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Given the historical Bitcoin prices from the last 90 days, predict the next 10 daily closing prices. The historical prices are: 6844.23, 7083.80, 7456.11, 6853.84, 6811.47, 6636.32, 6911.09, 7023.52, 6770.73, 6834.76, 6968.32, 7889.25, 7895.96, 7986.24, 8329.11, 8058.67, 7902.09, 8163.42, 8294.31, 8845.83, 8895.58, 8802.46, 8930.88, 9697.50, 8845.74, 9281.51, 8987.05, 9348.48, 9419.08, 9240.55, 9119.01, 9235.92, 9743.86, 9700.76, 9858.15, 9654.80, 9373.01, 9234.82, 9325.18, 9043.94, 8441.49, 8504.89, 8723.94, 8716.79, 8510.38, 8368.83, 8094.32, 8250.97, 8247.18, 8513.25, 8418.99, 8041.78, 7557.82, 7587.34, 7480.14, 7355.88, 7368.22, 7135.99, 7472.59, 7406.52, 7494.17, 7541.45, 7643.45, 7720.25, 7514.47, 7633.76, 7653.98, 7678.24, 7624.92, 7531.98, 6786.02, 6906.92, 6582.36, 6349.90, 6675.35, 6456.58, 6550.16, 6499.27, 6734.82, 6769.94, 6776.55, 6729.74, 6083.69, 6162.48, 6173.23, 6249.18, 6093.67, 6157.13, 5903.44, 6218.30.	[Bitcoin Technical Analysis for 2018-06-29] Volume: 3966230016, RSI (14-day): 39.59, 50-day EMA: 7159.13, 200-day EMA: 8207.74 [Wider Market Context] Gold Price: 1251.30, Gold RSI: 26.14 Oil Price: 74.15, Oil RSI: 70.06 [Recent News (last 7 days)] Nike, Inc. (NKE) Q4 2018 Earnings Conference Call Transcript: Image source: The Motley Fool. Nike, Inc.(NYSE: NKE)Q4 2018 Earnings Conference CallJune 28, 2018,5:00 p.m. ET • Prepared Remarks • Questions and Answers • Call Participants Operator Good afternoon, everyone. Welcome to Nike, Inc.'s fiscal 2018 fourth quarter conference call. For those who need to reference today's press release, you'll find it athttp://investors.nike.com. Leading today's call is Nitesh Sharan, Vice President, Investor Relations and Treasurer. Before I turn the call over the Mr. Sharan, let me remind you that participants on this call with ill make forward-looking statements based on current expectations and those statements are subject to certain risks and uncertainties that could cause actual results to differ materially. These risks as uncertainties are detailed in the reports filed with the FCC including the reported filed on form 10k. Some forward-looking statements may concern expectations of future revenue growth or gross margin. In addition, participants may discuss non-GAAP financial measures, including references to cost and dollar revenue. References to cost and dollar revenue are intended to provide context as to the performance of the business eliminating foreign exchange fluctuations. Participants may also make references to other non-public financial and statistical information and on GAAP financial measures. To the extent, non-public financial and statistical information is discussed presentations of comparable GAAP measures and quantitative reconciliations will be made available at Nike's websitehttp://investors.nike.com. Now, I would like to turn the call over to Natesh Sharan, Vice President, Investor Relations and Treasurer. Natesh Sharan-- Vice President of Investor Relations and Treasurer Thank you, operator. Hello, everyone, and thank you for joining us today to discuss Nike, Inc.'s fiscal 2018 fourth quarter and full-year results. And sorry for the brief delay getting started. As the operator indicated, participants on today's call may discuss non-GAAP financial measures. You will find the appropriate reconciliations in our press release, which was issued about an hour ago, or at our website, investors.nike.com. Joining us on today's call will be Nike, Inc. Chairman, President, and CEO Mark Parker, and our Chief Financial Officer Andy Campion. Following their prepared remarks, we will take your questions. We would like to allow as many of you to ask questions as possible in our allotted time, so we would appreciate you limiting your initial questions to two. In the event you have additional questions that are not covered by others, please feel free to requeue and we will do our best to come back to you. Thanks for your cooperation on this. I'll now turn the call over to Nike, Inc. Chairman, President, and CEO, Mark Parker. More From The Motley Fool • 3 Growth Stocks at Deep-Value Prices • 5 Expected Social Security Changes in 2018 • 6 Years Later, 6 Charts That Show How Far Apple, Inc. Has Come Since Steve Jobs' Passing • 10 Best Stocks to Buy Today • The $16,122 Social Security Bonus You Cannot Afford to Miss • Bitcoin's Biggest Competitor Isn't Ethereum -- It's This Mark Parker-- Chairman, President, and Chief Executive Officer Thanks, Natesh. Hello and good afternoon, everyone. We had a strong fourth quarter with results that confirm why we're so excited about the potential about of the consumer direct offense. The shifts we'd made to our business and our deeper focus on the three core areas: Innovation, direct, and speed, are igniting the next phase of growth and profitability for Nike. Here are the key areas of where we're deriving momentum in our business. First, we're winning with new innovation. We're leading with platforms, not just products. For example, React and AirMax is scaling through multiple styles and across categories. We're driving extraordinary growth and brand heat with consumers. Second, our digital offense is transforming Nike from how we connect with consumers to how we deliver products. This is a major shift from operating models of the past to a new digitally powered model of the future. And third, with a more focused strategy, we're running a more complete portfolio with better balance growth across geographies and categories. For the quarter, Nike, Inc. revenues grew 13% on a reported basis. Specific highlights include our international business growing 23% with greater China up 35%. We returned to healthy, sustainable growth in North America. Sportswear, a $10 billion business for Nike, had another quarter of double-digit growth. We saw solid momentum in key performance categories and Nike digital was up 41% for the quarter. The key to accelerating our strengths is to continue to sharpen the execution of our triple-double and looking at our progress this quarter, I'll start with two-x innovation. The line up of fresh, unexpected products that we shared with you last fall at our investor day has entered the marketplace. And as I noted, the consumer has responded. Nike React, for example, is living up to big expectations. We extended the launch momentum from last quarter and scaled significantly with excellent sell-through globally. The Epic React is already the #1 performance running shoe in the marketplace above $125 only trailing the AirVapor Max. And Zoom Air continues to be the training platform of choice for serious runners led by our best-selling Pegasus line. Our latest, the Peg 35, has the highest bookings in the first season for any Pegasus in our history. Overall running grew 7% for fiscal year '18. And with a loaded pipeline in fiscal '19 led by the Peg Turbo with Zoom X cushioning, we see a great runway ahead for our largest performance category. In sportswear, the consumer demand for all-day comfort is making AirMax one of the fastest growing platforms in our industry. Our icons, the AirMax Plus, 95, 97, and 98 are all performing incredibly well. AirVapor Max, built on that demand, in this quarter we took it a step further with Nike's first innovations built specifically for lifestyle: AirMax 270. Launching in March, 270 is the most successful AirMax launch in our history. That's one of the driving forces behind sportswear, a category that delivered more than[inaudible]billion dollars in revenue in Q4, our best quarter ever.[Inaudible]lifestyle AirMax platforms[inaudible]season ahead. Can you hear me clearly there? Are we clear? All right, sorry about that. Let's pick this back up again. So I said, you should look for more AirMax platforms in the season ahead, pushing the boundaries on lifestyle innovation. Air is one of Nike's greatest competitive differentiators and it continues to fuel extraordinary growth. Sportswear has begun to integrate Nike React into new styles, with more to come throughout fiscal year '19, including new icons from Jordan. The success of our new cushioning platforms is driving momentum in our women's business as well. In fact, following our launches the past three months, the 270 VaporMax and Epic React are already the top three selling women's athletic footwear models above $125. Overall, women's lifestyle product continues to set the pace for the category. For the quarter, women's saw the AirForce One continuing its strong momentum, the Blazer ramping up quickly in China and APLA and key AirMax icons growing triple digits. One of our biggest opportunities for fiscal '19 is to scale our women's sneaker business across both Nike and Jordan. In women's apparel, lifestyle's also leading the way, highlighted by strong growth in tops and fleece. And looking ahead, we're building on our leadership in bras and bringing more innovation through Flyknit apparel in the second half of the year. And as a part of our more holistic point of view on women's across running, training, and sportswear, we'll roll out a new approach with seasonal head-to-toe capsules and collections, like we did with the Meshed Up collection this quarter. There is great energy across our women's products and marketplace teams right now. One of our most important performance categories, Nike basketball, has produced strong momentum this year off the back of the NBA partnership and high demand for key signature styles. We've had an amazing year one with the NBA, we had a lot of firsts this year but I'd say our three biggest wins were our additions approach to jerseys, driving significantly higher NBA jersey sales than the league has ever had. The Showtime hoodie, which was a new premium apparel business for fiscal '18, with sell-through approaching 100% across most teams and channels. And the steady flow of LeBron player addition footwear that we launched through LeBron Watch on the Sneakers app, which is a new feature that turns the on-court footwear to real-time buying opportunities. Jordan brand proved, too, that the NBA is the ultimate sneaker runway. In many ways, Jordan defines the spectrum of performance and style. As part of the pre-game walk-in, on the court with the game's best players, and courtside with fans. But we know consumers are demanding more from Jordan and we know that people want wider access and new dimensions and we're delivering. This quarter, we nearly tripled the size of Jordan's women's sneaker business. Jordan apparel was up double-digits in all GOs and the Jordan brand in China was up nearly 50%. These are the areas where we see exponential growth and we will continue to focus. We have a lot of opportunity to expand the Jordan portfolio product to create a greater range of choice and to match the energy of the Jordan brand. For both Nike and Jordan, our partnerships with the world's best leagues, teams, and athletes are what fuel our growth. Nobody is better positioned to harness the expanding power of sport. Just look back at the moments in performances from our athletes over the last few weeks. Kevin Durant won back-to-back NBA titles and finals MVP awards. Eliud Kipchoge won the London Marathon in our new 3D printed uppers with flag print and ZoomX. Brooks Koepka winning the US Open for the second year in a row. And at the French Open, Simona Halep won her first title and Rafael Nadal won his unrivaled 11th at Roland Garros. And of course, we're two weeks into one of the world's greatest sports moments, the World Cup, where the energy for the Nike brand has been tremendous with over 60% of the players in the opening round wearing Nike boots.[Inaudible]scored by players in Nike boots than all of the brands combined, with Harry Kane and Cristiano Ronaldo leading the way. We also debuted the latest generation of Nike Flyknit, the material Superfly 360 and the Vapor 360. In apparel, we've seen strong sell-through of our performance kits and we've designed full collections across performance, training, and sportswear for key national teams, including England, France, Portugal, Brazil, and Nigeria. This quarter we also made an important commitment to our future in football. We entered into a 10-year partnership with the China super league, one of the fastest growing football nations in the world. The stories of our athletes and the innovation they inspire, those have always been central to our brand. And today, those products and stories are being amplified even further by the power of digital. We've talked about how critical mobile and social experiences are to our consumer and how that's driving change. But really, the full digital transformation of Nike that's taking place right now is even bigger than that. It's fundamentally shifting our entire company. Digital is allowing us to realize our vision for smart retail, to remove friction and personalize experiences through the intersection of digital and physical environments. It's sharpening our ability to sense the market through data and analytics. It's unlocking new manufacturing tools that are more precise and drive a new aesthetic. And it's opening up opportunities for new partnerships and how we develop talent in the organization. Let's start with how digital is fueling TwoX direct and our mission to lead the industry to a more differentiated marketplace through Nike consumer experiences. In our own ecosystem, NikePlus membership is the key to an elevated consumer experience. Once someone becomes a member and customizes their profile, we know what sports they like, how active they are, and the style of products they prefer. And that insight allows for unlocks for exclusive product, style advice from experts, and rewards for their activity. It personalizes the entire experience and allows us to remove friction points for members as they move seamlessly from mobile to the in-store environment. We've relaunched NikePlus membership in November and for the year, we've exceeded all of our membership targets with strong growth in new, active, and buying members, and improvement in engagement and conversion. And we continue to explore the physical and digital intersections through our new Nike app at retail, which is beginning to scale to multiple stores. Through smart retail, we can aggregate consumer buying patterns to better inform localized preferences and turn those into new growth opportunities. For example, next month we're opening a new retail concept in LA called Nike[inaudible]. It's a small format, data-driven store with an assortment influenced by what consumers are buying from surrounding zip codes. We see great potential in this approach and you'll see a lot more of it across our key cities. Digital innovation also allows us to push the edges on new immersive experiences, whether that's in our own channels or through partnered retail or social media platforms. The Sneakers app has delivered some incredibly compelling experiences this quarter. For example, the venues during Kendrick Lamar's recent tour, we triggered sneakers stash drops to make his Cortez Kenny 3 shoe available exclusively to his fans who were at the show. The Sneakers app is creating incredible demand and capturing more value from that energy is one of Nike's largest upside opportunities for fiscal '19 and beyond. Our investments in the digital experience are also creating a platform for new brand-friendly e-commerce partnerships. Our work with Tmall continues to set the bar for how we co-create shopping experiences through mobile and social. This quarter, we leveraged key shopping moments for AirMax on Tmall's super brand day and young athletes during its parent's channel launch. We continue to expand our presence in digital marketplaces through partnerships like Zalando and EMEA and ZOZOTOWN in Japan, which became fully operational in March. And we see huge potential in merging storytelling and shopping through our social platforms. This quarter, Nike became one of the first companies to drive new consumer experiences in Facebook messenger app, leveraging the AR camera to reveal the Kyrie 4 Red Carpet. Should look for more exciting new shopping experiences with Facebook and other social media platforms in the coming months. And as we noted at investor day, we're also piloting and scaling Nike consumer experiences with key wholesale partners. For example, the Nike certified athletes program turned selective Footlocker's associates into Nike experts. And after showing strong early results, Footlocker will scale the program across North America in Q1. And with JD Group and EMEA, we launched both a physical and digital concept to celebrate AirMax storytelling called Undisputed Air, driving triple-digit growth of Nike Air products in JD versus last year. Digital acceleration is also critical to creating an overall faster company, from consumer insight to responsive manufacturing to delivering products to the consumer when they want it. In other words, it's integral to our TwoX speed initiative. In fiscal '18, we've invested significantly in the capabilities that heighten our ability to sense the market and drive efficiency through our supply chain. We scaled seven key distribution centers around the world this year. One of the facilities in North America is our new Rebound facility, the first to be focused solely on accepting return product and getting it back into the marketplace significantly faster to maximize full price in-season selling. We've also integrated the Zodiac team from our recent acquisition, for giving us new predictive tools and advanced analytics to drive targeted growth. And we continue to develop our sensing capabilities within our key cities and sharpen the express lane, our fastest growing product engine that serves as a key focal point of our speed initiatives. This quarter, the express lane created a substantial impact by extending our in-line stories with new materials and colors as the teams did with the AirMax 270 this quarter. And amplifying the brand concepts we know are connecting best with consumers, like the Tuned Air Mercurial to celebrate World Cup. And capturing emerging trends, like we did in EMEA, with a 90s apparel collection where we identified the trend and quickly delivered product to market. Express lane as a whole, is leading to significantly stronger full price sell-through rates. Through digital, we're also inventing new manufacturing tools that allow us to push the boundaries of product creation, like computational design with React, or new Flyknit apparel, and automation throughout our supply chain continues to drive speed and efficiency. TwoX speed is a multi-year journey, and while we've made progress, we also know there's even greater opportunity ahead in this space. We've closed out the fiscal year with a strong performance across our business. Being closer to the consumer and our new offense has us focused on the biggest growth opportunities, making the right investments with the greatest returns. We fueled increased demand for Nike in fiscal '18 and fiscal '19 will continue that acceleration with an even faster pace of innovation and by serving consumers more completely across our entire portfolio. We have momentum and we're continuing to transform across multiple dimensions and throughout our entire organization. And I'm confident we'll use this quarter as a catalyst for growth into fiscal '19 and beyond. Thanks, and now here's Andy. Andy Campion-- Chief Financial Officer Thank you, Mark, and hello to everyone on the call. Fiscal year '18 was a strategically significant year for Nike. As we began the fiscal year last June, we communicated our new strategy: The consumer direct offense, which we believe would ignite Nike's next horizon of strong, sustainable, profitable growth and transform the company in the process. Met at our investor day this past October, we showcased how our new strategy was already beginning to come to life. We displayed the pipeline of innovative products that we plan to bring to market in the second half of fiscal year '18 on our path to TwoX innovation. We immersed our stakeholders in the relaunch of our Nike and Sneakers app experiences and the new membership services that would ignite TwoX direct. And we shared several of the manufacturing and supply chain initiatives that will help TwoX our speed and ultimately cut our time to market in half. Of course, we also established a new long-term financial model. But perhaps even more notable than the financial goals we established were some of the key operational measures of success that we shared. Those measures of success better define how we will transform Nike into a digitally led enterprise that connects more directly with our consumers globally through our key cities and countries. And as we now close Q4, we are thrilled to see our strategic execution translating into strong financial performance, as both revenue growth and profitability exceeded even our expectations. At the same time, what's even more exciting is that we also delivered across all of our key operational measures of success. And it's worth highlighting a few examples, as these are proof points that Nike's strategic transformation is under way at an accelerated pace. The first we said that new innovation platforms will drive over 50% of our incremental growth over the next five years. In fiscal year '18, revenue from new innovative platforms actually drove over 80% of our incremental growth, fueled by innovative new platforms such as the AirVapor Max, React, the AirMax 270, and ZoomX. We also said that we would TwoX direct with digital commerce growth, both owned and partnered, comprising over 50% of Nike's total company growth over the next five years. In fiscal year '18, Nike Direct, in fact, drove over 90% of our growth. And 100% of our growth was driven by the combination of Nike Direct and partnered Nike consumer experiences. Nike digital in particular grew 34% in Q4 on a constant currency basis and was the single fastest growing channel globally. Yet, for many of the hottest styles launched on Nike digital platforms within the quarter, our supply was only a fraction of the actual demand we experienced. This underscores a significant opportunity to better sense and serve digital demand in fiscal year '19. We also said in October that we expect our international geographies to drive over 75% of our growth and that North America would return to mid-single digit growth over the next five years. For the full year, our international geographies accounted for over 100% of our growth, with greater China growing nearly 2x the rate of any other geography on a currency-neutral basis. And in Q4, North America returned to growth, sharply reversing its prior trend. As Mark said, as we enter fiscal year '19, we are now running a more complete offense across our global portfolio. But before I go deeper into our outlook for fiscal year '19, let's first reflect on the drivers of our strong Q4 results. Nike, Inc. Q4 revenue increased 13%, up 8% on a currency-neutral basis, driven by double-digit international growth and a return to growth in North America. Nike Direct led our growth globally, including 5% comp store growth and 34% digital growth. For the full year, Nike, Inc. revenue increased 6% to $36.4 billion, up 4% on a currency-neutral basis. Gross margin expanded over 60 basis points in Q4, exceeding our own expectations due to accelerating full-price sales and Nike digital growth. For the full year, gross margin contracted just under 80 basis points as strong underlying product profitability was more than offset by a 90 basis point headwind from foreign exchange. Fourth quarter demand creation increased 25%, primarily driven by investments in new sports marketing assets such as Chelsea, Tottenham, and the NBA, brand marketing around key global sporting events such as the NBA finals and the World Cup, and global campaigns supporting the launch of new product innovations. For the full year, demand creation increased 7%. Operating overhead increased 14% for the quarter and 10% for the full year as we're investing in capabilities that will fuel long-term growth, particularly with respect to digital and innovation. Our effective tax rate was 6.4% for the quarter and 55.3% for the full year. The full year rate was significantly higher than the prior year; primarily due to the one-time transition tax associated with US tax reform. Fourth quarter diluted EPS increased 15% to $0.69. Full year diluted EPS declined 53% to $1.17 taking into account the significant one-time impacts of US tax reform. As of May 31st, inventories were up 4%, growing slower than the rate of revenue growth, which is an indication that our supply and demand management efforts over the course of fiscal year '18 have returned Nike to a strong full market globally. Finally, today we're announcing a new four-year, $15 billion share repurchase program. We anticipate that our current $12 billion share repurchase program will be completed within fiscal year '19. This newly expanded authorization, coupled with our dividend program, our evidence of Nike's strong cash flow generation and steadily increasing cash returns to shareholders. Now, let's turn to the financial performance for a few of our reported operating segments. In North America, Q4 revenue grew 3% on a reported basis and currency-neutral basis, led by new innovation platforms, very strong digital growth, continued momentum in sportswear, and broad growth across apparel. We've returned North America to revenue growth and expanding margins and this healthy momentum is carried forward into this new fiscal year. As we expected, digital continues to reshape the consumer experience and to some extent disrupt the more undifferentiated multi-brand wholesale dimensions of the marketplace. However, Nike consumer experiences at retail both owned and partnered and particularly those that leverage a digital connection to the consumer drove over two-thirds of our growth in North America. Digital connections have been critical to launching new and innovative products, creating brand heat, and better serving consumer demand. For example, as part of the Epic React launch, through social media, we invited our consumers to choose go. The Choose Go campaign inspired more than 1 million NikePlus members to participate in a run on the Nike running club app that day and generated over 500 million social media impressions. We also launched an exclusive colorway of the Epic React with Dick's Sporting Goods through a takeover of their digital commerce platform and social media channels. And as Mark detailed, we're in the process of launching the Nike app at retail in key markets, bringing NikePlus membership into the store an accelerating the convergence of digital and physical retail. As for the Jordan brand in North America, we are already back to a pull market and we expect a return to global growth in fiscal year '19. Consumers love the Jordan brand and their passion for the brand is unwavering. At the same time, we saw an opportunity to recalibrate the supply of select styles across distribution channels. While that included tightening the supply in some cases, it also included expanding the supply of the hottest most iconic Jordan styles on the Nike Sneakers app, which has fast become the leading destination for high heat footwear launches globally. We also leveraged both Jordan and Nike launches on the Sneakers app to create compelling new consumer experiences that merge digital and physical with our strategic retail partners. For example, through initiatives such as Shock Drop, Sneakers Path, and Sneaker Stash looking forward, we see tremendous opportunity to continue diversifying the Jordan brand for women in performance and through apparel. For the full year, North America's revenue declined 2% and EBIT was 7% lower. However, our Q4 results in North America reflect a reversal of trend and sustainable momentum going into fiscal year '19. Moving to EMEA, where revenues grew 10% on a currency-neutral basis in Q4, driven by strong growth in global football, sportswear, and running. Our apparel business is also particularly strong across Europe, with global football apparel approaching triple-digit growth in Q4 fueled by high energy, national pain collections associated with the World Cup. In footwear, AirMax continues to be the dominant platform in the region, with the AirMax 270 becoming the #1 style across key European markets and AirMax month in March propelling sportswear to record full-year revenues. The Nike brand is also #1 in all of our key cities across Europe, fueled by campaigns such as Nothing Beats a Londoner that amplified the authentic voice of over 200 London consumers along with influences such as Skepta and several of the world's greatest athletes, including Mo Farah, Harry Kane, and others. This is a great example of a hyper-local city campaign that resonated with our consumers globally. While Nike Direct continues to lead all dimensions of growth in EMEA, JD, for example, has also been a very strategic partner for Nike. JD continues to leverage digital connections with consumers and differentiated store concepts, including size, to both create and serve demand. And we look forward to the best practices that they will bring to the North America marketplace. For the full year, currency-neutral revenue growth was 9%, fueled by double-digit growth in sportswear and across apparel. On a reported basis, fiscal year '18 revenues grew 16% and EBIT increased 5% as strong revenue growth was offset primarily by transactional FX headwinds on gross margin. So next, let's turn to greater China. In Q4, greater China's growth accelerated to 25% on a currency-neutral basis, including strong double-digit growth across all categories, the Jordan brand, and across our women's business. Nike digital growth continues to outpace all other marketplace dimensions and we continue to partner with and learn from China's leading digital platforms. Through our partnership with Tmall, our first ever AirMax super brand day in March became our largest day on the platform, second only to singles day for the year. And with Tencent, we launched our Shoes Go campaign through digital media, inspiring 2 million runners to participate in a seven-week running journey and creating strong demand for the Epic React. For the full year, revenue from greater China increased 18% on a currency-neutral basis, driven by running, sportswear, the Jordan brand, and Nike basketball. On a reported basis, fiscal year revenues were up 21% and EBIT increased 20%. There are several drivers of the extraordinary long-term growth potential we see in greater China. From favorable macroeconomics to the rise of sport and fitness, to the scale and impact of digital, to the strength of the Nike brand. Accordingly, we will continue to invest, to extend our leadership in the strategically important and fast-growing market. In APLA, Q4 revenue grew 13% on a currency-neutral basis. Growth was strong across all key countries within this diverse geography and is being fueled by our focus on creating brand energy in key cities and through digital. In fact, while Nike digital growth was strong in every geography, APLA's digital growth led the pack. In addition to strong Nike Direct digital growth, growth renew entrepreneurial digital partners also accelerated. Looking forward, we will continue to drive digital momentum by scaling the Nike and Sneakers app across key countries within APLA while also continuing to explore and scale these digital partnerships. For the full fiscal year, revenue increased 10% on a currency-neutral basis fueled by balanced growth across all categories, including the Jordan brand and our women's business. On a reported basis, full-year revenues for the fiscal year increased 9%. While EBIT was up 21%, reflecting gross margin expansion and SGNA leverage. And finally, at Converse, revenue declined 11% on a currency-neutral basis for fiscal year '18 and declined 14% in the fourth quarter. Contraction was primarily driven by the decision to right size wholesale distribution in North America and EMEA. At the same time, Converse direct grew double-digits in Q4, including strong double-digit growth in digital for the full year with acceleration in Q4. On a reported basis, full-year revenues were down 8% and EBIT declined 35%. As we move into fiscal year '19, we are reigniting energy in the Converse brand and diversifying Converse's product portfolio both through Converse's authentic positioning in sport and through new sportswear styles and collaborations. In fiscal year '19, Converse will also launch a more direct, branded, and immersive digital experience to drive closer connections between the Converse brand and its passionate consumers. Fiscal year '19 will be the first full year of execution against Nike's consumer direct offense and the long-term financial goals that we detailed at our investor day. As we are now deeper into the execution of our new offense, it is becoming increasingly clear that digital is transforming how we operate and will favorably reshape our economic model over the long-term. Digital is inflecting our revenue growth and has a favorable mix impact on our gross margin as we capture more of the value that we are creating for consumers. As for SGNA, we will continue to accelerate investment in scalable, digital experiences and capabilities, building both organically and through acquisitions. At the same time, we're already seeing how upfront investments and experiences, like the Nike and Sneakers apps, and in capabilities such as data and analytics, can be efficiently leveraged globally to better serve our consumers across our key markets. Finally, digital also creates the potential for win-win economic models with our wholesale partners over time as they transform their retail experiences to serve the next generation of digitally native consumers. Taking all of these dynamics into account, we are updating our guidance for fiscal year '19. As of our last earnings call, we expected mid to high single-digit revenue growth in fiscal year '19. As we now close Q4, our expectations for revenue growth in fiscal year '19 have moved up slightly, entering the high single-digit range. This improved outlook takes into account building consumer demand for Nike. However, we are also mindful of renewed FX volatility in the strengthening dollar of late. As for gross margin, we now expect expansion of roughly 50 basis points or slightly greater, fueled by strong full price sales, expanding average selling prices, and growth in our Nike Direct businesses partially offset by higher input costs. As for SGNA, we will continue to prioritize investment in new digital consumer experiences and capabilities, in product innovation, and in brand marketing. As such, in fiscal year '19, we expect SGNA to grow roughly in the same range as revenue growth. We are not targeting SGNA leverage in fiscal year '19. We are capturing productivity gains within SGNA, but we will use that incremental capacity to invest strategically for the long-term. As for other expense, net of interest expense, we expect roughly 125 to 150 million of expense for the full year. We see our effective tax rate being in the mid-teens range or potentially slightly higher for the full year. It's important to note that our tax rate will continue to be volatile based upon the full implementation and further guidance with respect to US tax reform. Variation in our mix of earnings geographically will also have an impact as will the impact of stock-based compensation and other discrete items. Our focus will remain on driving strategic transformation and delivering strong growth over the long-term, more so than on the results in any individual quarter. That said, for some additional context as we enter the fiscal year, we expect the same level of revenue growth in Q1 as we do for the full year. We also expect less gross margin expansion in the first half as compared to the second half of the year. And finally, as for SGNA, our investment will be more frontloaded toward the first half of the fiscal year, driven by key consumer and sports moments such as the World Cup. The consumer direct offense is transforming how we operate at Nike and how we will create value for shareholders going forward, more specifically digital is proving to be as transformative as we expected and potentially even more so. We still have much work to do ahead of us to realize the full potential of our new office, offense. That said; it is clear as we accelerate into fiscal year '19 that we have now ignited Nike's next horizon of strong, sustainable profitable growth. With that, we'll now open the call up for questions. Operator At this time, I would like to remind everyone in order to ask a question, press * then the number 1 on your telephone keypad. Your first question comes from the line of Bob Drbul from Guggenheim. Your line is open. Bob Drbul-- Guggenheim -- Analyst Hi guys, good afternoon. I guess the question that I have is, on the North American market, you talk a lot about the sustainability of the growth in the US. As you look throughout the next fiscal year in terms of -- is it an expectation for the low single-digit increase, is it expected to accelerate based on what you're seeing? I was wondering if you could just comment a little bit more around the outlook in the North American market. Andy Campion-- Chief Financial Officer Sure. We do see sustainable momentum in North America. As you know, our investor day guidance for North America was that we believed it was a mid-single-digit growth market over the next five years. And so we don't typically provide geographical specific guidance certainly by quarter or for the full year. But I would say that we have momentum going into the year and that's really primarily fueled by new innovation platforms that we're scaling; Nike Direct, certainly Nike digital, which accelerated to well over 30% growth, driven by strong results on sneakers and through membership, and then I'd note that importantly, we've returned North America to a healthy pull market. Inventory is clean, up only 2%. Full price sales are accelerating, off-price sales are declining, and gross margins are expanding. We do see strong momentum, sustainable momentum going into fiscal year '19, but we are providing specific guidance by line item by geography. Mark Parker-- Chairman, President, and Chief Executive Officer And much of what you saw in terms of Q4 in terms of the momentum that has been building, we'll see that continue throughout the fiscal year. I'll put an exclamation point on the product as being a driving force beyond just executing some of the basics better across the board. Bob Drbul-- Guggenheim -- Analyst Okay, great, I just have a follow-up question, I think for Mark. The LeBron watch, can you just give us some insight into where you expect LeBron to land in free agency this year? Mark Parker-- Chairman, President, and Chief Executive Officer I'm not going there. I think wherever he goes he's going to help his team more than anybody else I think in the league. Everybody wants to know that question but I can't give you any more insight. Operator Your next question comes from the line of Kate McShane from Citi. Your line is open. Kate McShane-- Citi -- Analyst Hi, thank you, thanks for taking my question. My question is centered around Jordan. You made a couple of comments in the prepared comments about the brand. But I was curious -- could you remind us now that you're back into the pull model, how big[inaudible]in terms of dollars? Could you also maybe walk us through the fact that the retro versus the marquee business in the[inaudible]and any significant change in the pricing structure within Jordan? Andy Campion-- Chief Financial Officer Kate, if you refer to our earnings release, this is the time of the year where we actually report our revenue by category and what you would see in the release is the Jordan brand for the 12 months end of this fiscal year was about $2.85 billion. Mark Parker-- Chairman, President, and Chief Executive Officer Can you repeat the second part of that question, too, of the pricing? Kate McShane-- Citi -- Analyst Just if there was any change in the structure of the pricing now that you're back to the pull model for the brand? Andy Campion-- Chief Financial Officer From a pricing perspective, I'd say the leading indicator in terms of the strength of the Jordan brand is that we're seeing strong false price[inaudible]. In fact, it might be an understatement to say that our inventories are clean in North America. And that was not a result of adjusting prices. That was entirely about right-sizing supply and within distribution channels. And what we've seen is that certainly with respect to the hottest styles and the most iconic styles, we've had extraordinary demand. Again, demand that outpaced the supply that we had planned particularly with respect to our digital experiences like the Sneakers app. So we continue to feel that there's great price value there and certainly as we bring innovation and storytelling to those icons and across the rest of the Jordan line. Operator Your next question comes from the line of Jamie Merriman from Bernstein. Your line is open. Jamie Merriman-- Bernstein -- Analyst Thank you very much. I had two questions related to digital. Andy, you talked about the investments that you're making in digital and the visibility that you have in terms of the results that that is delivering. But can you talk a little bit about how you think about the ultimate opportunity from a profitability perspective as that business does scale? And then the second part would be, you mentioned Tmall as setting the bar in terms of your digital partners, you didn't talk about Amazon, so I'm just wondering if there are learnings from the Tmall relationship that you could work with Amazon to apply or if there's an opportunity there? Thank you. Andy Campion-- Chief Financial Officer Sure. I'll start with your question around the impact of digital. It's a great question and a timely question. As both Mark and I detailed, we saw acceleration in digital that quite frankly exceeded even our own expectations. It wasn't by accident. We'd certainly been investing both organically in digital experiences, such as some of the experiences we've shared with respect to our membership initiatives, as well as in capabilities. You've heard us refer to our acquisitions in Virgin Mega and Verdicts and Zodiac over time. And so, that acceleration is definitely a result of the investment. In terms of our evolving view of the impact of digital on our economic model or how we create value for shareholders, we do see digital being a platform that helps us better optimize supply and demand. We obviously get a very direct read and signals from consumers in terms of which products they are most interested in and that ultimately helps us amplify revenue growth through full price sales. When we're leveraging digital in a more direct way, we obviously capture more of that revenue at the retail price when we are leveraging digital with our partners. We do see a benefit from a full price sale and a win-win relations with our partners. Digital commerce also has margins that are favorable from a mix perspective relative to our traditional wholesale bricks and mortar business. From an SGNA perspective, I would suggest there are two ways to look at it. One is short, medium, and long-term, and then the other one is specifically more in the shorter term. I think short, medium, and long-term, what we're finding is that the capabilities or experiences we're building in digital are very scalable. And they're scalable and efficient way. You think about creating experiences around the Sneakers or Nike apps and to the extent we have success in the market where we launched that, we're then able to take that investment we've already made and leverage it in markets around the world and we're certainly see that for example with the sneakers app which is #1 in Japan in terms of free applications. We've seen millions of downloads of that app since launch in China, leveraging a lot of that upfront initial investment. We think it's a sort of leverage. At the same time, because we're focused on the long-term and we do think digital has the ability to really inflect our value creation, we're accelerating the investments that we're making in digital now to accelerate us down that path. Mark Parker-- Chairman, President, and Chief Executive Officer And quickly on Amazon -- I would just say that our partnership is progressing well. We remain focused on elevating the consumer experience on the platform. We're learning a lot, applying. And you mentioned Tmall; we did call that partnership out in our prepared remarks. Tmall has been an exceptional partner for us. I think the main focus is on elevating the brand profile and experience on the platform. And that'll continue to be the focus as we explore next steps with Amazon. And I'll call out our other digital platform partners, too, Zalando and ASOS and some of the others I mentioned earlier, that this is a critical part of our digital opportunity going forward beyond what we're doing direct. Operator Your next question comes from the line of Jim Duffy from Stifel. Your line is open. Jim Duffy-- Stifel -- Analyst Thank you, hello everyone. One of the things that jumped out at me from the call is the notable success you're having capitalizing on sneaker culture for women. How far are you down the runway on this and can you highlight some things to look for in fiscal '19 and beyond? Mark Parker-- Chairman, President, and Chief Executive Officer I would say that we're in the early stages here. To be frank, the demand that we've created from our Sneakers app has greatly exceeded our expectations and done so quickly, both for men and for women. This is, and I mentioned this before, but one of the biggest upside opportunities I think we have over the course of fiscal '19 and beyond. The response has been phenomenal and it's truly an area that we're excited about catching up, meeting end to end, being at a position to serve that incredible increase in demand that we've got from Sneakers and the whole sneaker culture, which is now a global and connected community that is creating, again, incredible buzz around the world and incredible demand. In some ways, it's a great problem to have, but we've got a lot of upside opportunity here. Jim Duffy-- Stifel -- Analyst Great, and then Mark, leveraging data clearly a focus. Where are you in the process of providing data to some of the upstream operating units like design and demand planning and putting them in a position to use that data to inform business decisions? Mark Parker-- Chairman, President, and Chief Executive Officer That's a great question. I'd say we're on the early stages. This is a constantly moving opportunity for us, design and product creation and the express lane, the supply chain -- they're all connecting digitally, its predictive demand planning, sensing and demand planning is absolutely a critical part. Advancing this capability, moving forward. I feel like we're making a tremendous progress in that respect. I think this next fiscal year will be an acceleration of the use of data to inform product design and capabilities going forward. And then, it's actually impacting how we manage our supply chain in our manufacturing flexibility and response time. I think you'll see a lot of scaling of the data and analytics capabilities for Nike here in the month and quarters ahead. Operator Your next question comes from the line of Simeon Siegel from Nomura Instinet. Your line is open. Simeon Siegel-- Nomura Instinet -- Analyst Thanks, hi guys, and congrats on the strong end to the year. Just looking for the route over that multi-year mid-single digit North American number. Is there any color you could share on how you view footwear and apparel and any distinction there in terms of how you see the competitive dynamic? Thank you. Mark Parker-- Chairman, President, and Chief Executive Officer Actually, we see strength across both product types: Footwear and apparel. Both are competitive marketplaces for Nike in North America but around the world. The health of the business both on the footwear and the apparel side is actually quite strong in demand that we're seeing. We're equally focused on innovation, both in performance and lifestyle, in footwear and apparel. But we see the results that we've rated in Q4 and the momentum that's building -- we'll see that continue throughout the fiscal year. Very bullish on both footwear and apparel, both[inaudible]performance and certainly sportswear. Andy Campion-- Chief Financial Officer I just note that in the quarter, in North America the return to growth was fueled by growth in both footwear and apparel with a slightly faster rate of growth in apparel and part of that rate of growth was impacted by our new partnership with the NBA and Mark referenced some of the new styles that we brought to the assortment with the NBA and then more broadly across our line in basketball. Mark Parker-- Chairman, President, and Chief Executive Officer I'll mention too, it's a[inaudible]men's and women. Women's is a major growth area for Nike in both footwear, we mentioned sneakers, and in sportswear, success that we're seeing, but likewise in apparel, again, particularly in the sportswear area. Simeon Siegel-- Nomura Instinet -- Analyst And so to the point about the digital strength. Do you see any distinction between apparel and footwear online as that business grows? Or is broad-based? Mark Parker-- Chairman, President, and Chief Executive Officer It's actually fairly broad-based. We see it both in physical and digital, direct, and wholesale. But certainly, of the footwear side, we're seeing incredible spikes in demand as I mentioned with our direct business, particularly around the Sneakers mobile app. And again, expect that to continue. On the apparel side, I think it's a bit more balanced. Operator Your next question comes from the line of Chris Svezia from Wedbush. Your line is open. Chris Svezia-- Wedbush -- Analyst Thank you, everyone, for taking my questions. Congratulations. I guess just first, Western Europe. I'm just curious beyond the World Cup, what's your ability to maintain some of the momentum you're seeing, whether it's in footwear or apparel, maybe of any color by region, either digital or TTC? Just sort of what you're seeing in that market that might give you some confidence that that momentum can continue once you get through the World Cup event. Mark Parker-- Chairman, President, and Chief Executive Officer I think the underlying health of the business for Nike and Europe is actually quite strong beyond what we're seeing in the World Cup. And again, I think that's both in footwear and apparel. Similarly to the North America, we have a clean marketplace seeing growing full price sales. We're outpacing the marketplace overall. It's the same dynamics; new product innovation is resonating, especially in some of the key styles we mentioned, like the AirMax franchise, the AirMax 270, the VaporMax. We're editing our product mix. We're creating more choice but focusing on key products and that's really helping to drive our strength in the marketplace. I think the focus, too, on the key cities with hyper-local products and a lot of that's fueled by our express lane, is really clicking into gear in Europe. So we are over-indexing in Europe and again, beyond the World Cup, we expect that to continue. Chris Svezia-- Wedbush -- Analyst And Andy, for you -- you outperformed Q4 on the gross margin, you got it to roughly 50 basis points for fiscal year '19 but it seems like some of the drivers are accelerating around product, favorable channel mix, and I believe also FX starts becoming incremental[inaudible]. Could you maybe just walk through what other pieces we might be missing that go into that gross margin? I think you threw out product cost. But any color around that would be helpful. Andy Campion-- Chief Financial Officer Sure. As I said, we see strong gross margin expansion fiscal year '19. You know that our long-term financial model is to deliver as much as 50 basis points of expansion. And we have updated that outlook to be 50 basis points or slightly greater. That's led by stronger full price selling as well as over-indexing growth in our higher margin make it direct businesses. While FX headwinds are now behind us, we're not forecasting significant FX tailwinds based on current rates and based on FX volatility being renewed of late, we're being measured in that regard even as we look out for the second half of the year. We are forecasting, as you know, at a better pressure on gross margin from select input cost headwinds within labor, oil, freight, materials. And then I should note that our margins within our margins different than many of our peers, we capture a significant portion of our supply chain cost where some of our peers capture those costs in SGNA and so as we're investing to TwoX speed, we do have some investments in revolutionizing manufacturing and other initiatives that are in that line item of RPNL. Operator Your last question comes from the line of Matt McClintock from Barclays. Your line is open. Matt McClintock-- Barclays -- Analyst Hi, yes, good afternoon everyone. Andy, I wanted to follow-up on something you said in your remarks. You said supply was only a fraction of the demand. And that sounds like a pretty good problem to have. But I was wondering, in the context of TwoX speed as you were just saying, how do we think about optimizing the total value or the total projected value of a new shoe or new sneaker in a world where you have TwoX speed and consumer demand is changing at an accelerating rate? Andy Campion-- Chief Financial Officer As you put it, I think you said it was a nice problem to have. We see it as a great opportunity to really serve the consumers who have extraordinary demand for that product better. So frankly, along the lines of the notion of TwoX speed, we're attacking that opportunity with a lot of urgency. Not just because it is a revenue upside potential driver, which it certainly is. As I said, the supply that we had against some of the[inaudible]we saw on some of the hottest styles was, as I said, but a fraction of that demand. We also see it as a great opportunity to both serve in terms of the product they want but also connect in a deeper way with those passionate consumers -- many call them "sneakerheads" -- who have chosen to connect with us as members on the Nike app and Sneakers. In terms of TwoX speed, I think even elevating as Mark said; the digital transformation at Nike really is an end-to-end notion. When we think about demand sensing, the greatest opportunity we have is to sense the demand and even in a more nuanced way -- the signals and the preferences from the consumers that we're connecting with this directly on Sneakers. We use things like notify me initiative, draws, pre-orders, and we're coming up increasingly with even more creative ways to get a sense for how robust the demand is, either for specific products or for types of products that we may be planning to bring to market. Matt McClintock-- Barclays -- Analyst Perfect. Thank you very much for that color. Mark Parker-- Chairman, President, and Chief Executive Officer Thank you, everyone, for joining us today. I'd like to, again, just apologize for the technical difficulties we had earlier. We were receiving some noisy feedback. It was a great quarter though, so if you have some business related feedback or questions related to that, feel free to reach out to the investor relations team. We look forward to speaking with you next quarter. Thank you very much. Operator This concludes today's conference call. You may now disconnect. Duration:65 minutes Natesh Sharan-- Vice President of Investor Relations and Treasurer Mark Parker-- Chairman, President, and Chief Executive Officer Andy Campion-- Chief Financial Officer Bob Drbul-- Guggenheim -- Analyst Kate McShane-- Citi -- Analyst Jamie Merriman-- Bernstein -- Analyst Jim Duffy-- Stifel -- Analyst Simeon Siegel-- Nomura Instinet -- Analyst Chris Svezia-- Wedbush -- Analyst Matt McClintock-- Barclays -- Analyst More NKE analysis This article is a transcript of this conference call produced for The Motley Fool. While we strive for our Foolish Best, there may be errors, omissions, or inaccuracies in this transcript. As with all our articles, The Motley Fool does not assume any responsibility for your use of this content, and we strongly encourage you to do your own research, including listening to the call yourself and reading the company's SEC filings. Please see ourTerms and Conditionsfor additional details, including our Obligatory Capitalized Disclaimers of Liability. More From The Motley Fool • 3 Growth Stocks at Deep-Value Prices • 5 Expected Social Security Changes in 2018 • 6 Years Later, 6 Charts That Show How Far Apple, Inc. Has Come Since Steve Jobs' Passing • 10 Best Stocks to Buy Today • The $16,122 Social Security Bonus You Cannot Afford to Miss • Bitcoin's Biggest Competitor Isn't Ethereum -- It's This The Motley Fool owns shares of and recommends Nike. The Motley Fool has adisclosure policy. \|\| Nike, Inc. (NKE) Q4 2018 Earnings Conference Call Transcript: Logo of jester cap with thought bubble with words 'Fool Transcripts' below it Image source: The Motley Fool. Nike, Inc. (NYSE: NKE) Q4 2018 Earnings Conference Call June 28, 2018, 5:00 p.m. ET Contents: Prepared Remarks Questions and Answers Call Participants Prepared Remarks: Operator Good afternoon, everyone. Welcome to Nike, Inc.'s fiscal 2018 fourth quarter conference call. For those who need to reference today's press release, you'll find it at http://investors.nike.com . Leading today's call is Nitesh Sharan, Vice President, Investor Relations and Treasurer. Before I turn the call over the Mr. Sharan, let me remind you that participants on this call with ill make forward-looking statements based on current expectations and those statements are subject to certain risks and uncertainties that could cause actual results to differ materially. These risks as uncertainties are detailed in the reports filed with the FCC including the reported filed on form 10k. Some forward-looking statements may concern expectations of future revenue growth or gross margin. In addition, participants may discuss non-GAAP financial measures, including references to cost and dollar revenue. References to cost and dollar revenue are intended to provide context as to the performance of the business eliminating foreign exchange fluctuations. Participants may also make references to other non-public financial and statistical information and on GAAP financial measures. To the extent, non-public financial and statistical information is discussed presentations of comparable GAAP measures and quantitative reconciliations will be made available at Nike's website http://investors.nike.com . Now, I would like to turn the call over to Natesh Sharan, Vice President, Investor Relations and Treasurer. Natesh Sharan -- Vice President of Investor Relations and Treasurer Thank you, operator. Hello, everyone, and thank you for joining us today to discuss Nike, Inc.'s fiscal 2018 fourth quarter and full-year results. And sorry for the brief delay getting started. As the operator indicated, participants on today's call may discuss non-GAAP financial measures. You will find the appropriate reconciliations in our press release, which was issued about an hour ago, or at our website, investors.nike.com. Story continues Joining us on today's call will be Nike, Inc. Chairman, President, and CEO Mark Parker, and our Chief Financial Officer Andy Campion. Following their prepared remarks, we will take your questions. We would like to allow as many of you to ask questions as possible in our allotted time, so we would appreciate you limiting your initial questions to two. In the event you have additional questions that are not covered by others, please feel free to requeue and we will do our best to come back to you. Thanks for your cooperation on this. I'll now turn the call over to Nike, Inc. Chairman, President, and CEO, Mark Parker. More From The Motley Fool 3 Growth Stocks at Deep-Value Prices 5 Expected Social Security Changes in 2018 6 Years Later, 6 Charts That Show How Far Apple, Inc. Has Come Since Steve Jobs' Passing 10 Best Stocks to Buy Today The $16,122 Social Security Bonus You Cannot Afford to Miss Bitcoin's Biggest Competitor Isn't Ethereum -- It's This Mark Parker -- Chairman, President, and Chief Executive Officer Thanks, Natesh. Hello and good afternoon, everyone. We had a strong fourth quarter with results that confirm why we're so excited about the potential about of the consumer direct offense. The shifts we'd made to our business and our deeper focus on the three core areas: Innovation, direct, and speed, are igniting the next phase of growth and profitability for Nike. Here are the key areas of where we're deriving momentum in our business. First, we're winning with new innovation. We're leading with platforms, not just products. For example, React and AirMax is scaling through multiple styles and across categories. We're driving extraordinary growth and brand heat with consumers. Second, our digital offense is transforming Nike from how we connect with consumers to how we deliver products. This is a major shift from operating models of the past to a new digitally powered model of the future. And third, with a more focused strategy, we're running a more complete portfolio with better balance growth across geographies and categories. For the quarter, Nike, Inc. revenues grew 13% on a reported basis. Specific highlights include our international business growing 23% with greater China up 35%. We returned to healthy, sustainable growth in North America. Sportswear, a $10 billion business for Nike, had another quarter of double-digit growth. We saw solid momentum in key performance categories and Nike digital was up 41% for the quarter. The key to accelerating our strengths is to continue to sharpen the execution of our triple-double and looking at our progress this quarter, I'll start with two-x innovation. The line up of fresh, unexpected products that we shared with you last fall at our investor day has entered the marketplace. And as I noted, the consumer has responded. Nike React, for example, is living up to big expectations. We extended the launch momentum from last quarter and scaled significantly with excellent sell-through globally. The Epic React is already the #1 performance running shoe in the marketplace above $125 only trailing the AirVapor Max. And Zoom Air continues to be the training platform of choice for serious runners led by our best-selling Pegasus line. Our latest, the Peg 35, has the highest bookings in the first season for any Pegasus in our history. Overall running grew 7% for fiscal year '18. And with a loaded pipeline in fiscal '19 led by the Peg Turbo with Zoom X cushioning, we see a great runway ahead for our largest performance category. In sportswear, the consumer demand for all-day comfort is making AirMax one of the fastest growing platforms in our industry. Our icons, the AirMax Plus, 95, 97, and 98 are all performing incredibly well. AirVapor Max, built on that demand, in this quarter we took it a step further with Nike's first innovations built specifically for lifestyle: AirMax 270. Launching in March, 270 is the most successful AirMax launch in our history. That's one of the driving forces behind sportswear, a category that delivered more than [inaudible] billion dollars in revenue in Q4, our best quarter ever. [Inaudible] lifestyle AirMax platforms [inaudible] season ahead. Can you hear me clearly there? Are we clear? All right, sorry about that. Let's pick this back up again. So I said, you should look for more AirMax platforms in the season ahead, pushing the boundaries on lifestyle innovation. Air is one of Nike's greatest competitive differentiators and it continues to fuel extraordinary growth. Sportswear has begun to integrate Nike React into new styles, with more to come throughout fiscal year '19, including new icons from Jordan. The success of our new cushioning platforms is driving momentum in our women's business as well. In fact, following our launches the past three months, the 270 VaporMax and Epic React are already the top three selling women's athletic footwear models above $125. Overall, women's lifestyle product continues to set the pace for the category. For the quarter, women's saw the AirForce One continuing its strong momentum, the Blazer ramping up quickly in China and APLA and key AirMax icons growing triple digits. One of our biggest opportunities for fiscal '19 is to scale our women's sneaker business across both Nike and Jordan. In women's apparel, lifestyle's also leading the way, highlighted by strong growth in tops and fleece. And looking ahead, we're building on our leadership in bras and bringing more innovation through Flyknit apparel in the second half of the year. And as a part of our more holistic point of view on women's across running, training, and sportswear, we'll roll out a new approach with seasonal head-to-toe capsules and collections, like we did with the Meshed Up collection this quarter. There is great energy across our women's products and marketplace teams right now. One of our most important performance categories, Nike basketball, has produced strong momentum this year off the back of the NBA partnership and high demand for key signature styles. We've had an amazing year one with the NBA, we had a lot of firsts this year but I'd say our three biggest wins were our additions approach to jerseys, driving significantly higher NBA jersey sales than the league has ever had. The Showtime hoodie, which was a new premium apparel business for fiscal '18, with sell-through approaching 100% across most teams and channels. And the steady flow of LeBron player addition footwear that we launched through LeBron Watch on the Sneakers app, which is a new feature that turns the on-court footwear to real-time buying opportunities. Jordan brand proved, too, that the NBA is the ultimate sneaker runway. In many ways, Jordan defines the spectrum of performance and style. As part of the pre-game walk-in, on the court with the game's best players, and courtside with fans. But we know consumers are demanding more from Jordan and we know that people want wider access and new dimensions and we're delivering. This quarter, we nearly tripled the size of Jordan's women's sneaker business. Jordan apparel was up double-digits in all GOs and the Jordan brand in China was up nearly 50%. These are the areas where we see exponential growth and we will continue to focus. We have a lot of opportunity to expand the Jordan portfolio product to create a greater range of choice and to match the energy of the Jordan brand. For both Nike and Jordan, our partnerships with the world's best leagues, teams, and athletes are what fuel our growth. Nobody is better positioned to harness the expanding power of sport. Just look back at the moments in performances from our athletes over the last few weeks. Kevin Durant won back-to-back NBA titles and finals MVP awards. Eliud Kipchoge won the London Marathon in our new 3D printed uppers with flag print and ZoomX. Brooks Koepka winning the US Open for the second year in a row. And at the French Open, Simona Halep won her first title and Rafael Nadal won his unrivaled 11th at Roland Garros. And of course, we're two weeks into one of the world's greatest sports moments, the World Cup, where the energy for the Nike brand has been tremendous with over 60% of the players in the opening round wearing Nike boots. [Inaudible] scored by players in Nike boots than all of the brands combined, with Harry Kane and Cristiano Ronaldo leading the way. We also debuted the latest generation of Nike Flyknit, the material Superfly 360 and the Vapor 360. In apparel, we've seen strong sell-through of our performance kits and we've designed full collections across performance, training, and sportswear for key national teams, including England, France, Portugal, Brazil, and Nigeria. This quarter we also made an important commitment to our future in football. We entered into a 10-year partnership with the China super league, one of the fastest growing football nations in the world. The stories of our athletes and the innovation they inspire, those have always been central to our brand. And today, those products and stories are being amplified even further by the power of digital. We've talked about how critical mobile and social experiences are to our consumer and how that's driving change. But really, the full digital transformation of Nike that's taking place right now is even bigger than that. It's fundamentally shifting our entire company. Digital is allowing us to realize our vision for smart retail, to remove friction and personalize experiences through the intersection of digital and physical environments. It's sharpening our ability to sense the market through data and analytics. It's unlocking new manufacturing tools that are more precise and drive a new aesthetic. And it's opening up opportunities for new partnerships and how we develop talent in the organization. Let's start with how digital is fueling TwoX direct and our mission to lead the industry to a more differentiated marketplace through Nike consumer experiences. In our own ecosystem, NikePlus membership is the key to an elevated consumer experience. Once someone becomes a member and customizes their profile, we know what sports they like, how active they are, and the style of products they prefer. And that insight allows for unlocks for exclusive product, style advice from experts, and rewards for their activity. It personalizes the entire experience and allows us to remove friction points for members as they move seamlessly from mobile to the in-store environment. We've relaunched NikePlus membership in November and for the year, we've exceeded all of our membership targets with strong growth in new, active, and buying members, and improvement in engagement and conversion. And we continue to explore the physical and digital intersections through our new Nike app at retail, which is beginning to scale to multiple stores. Through smart retail, we can aggregate consumer buying patterns to better inform localized preferences and turn those into new growth opportunities. For example, next month we're opening a new retail concept in LA called Nike [inaudible] . It's a small format, data-driven store with an assortment influenced by what consumers are buying from surrounding zip codes. We see great potential in this approach and you'll see a lot more of it across our key cities. Digital innovation also allows us to push the edges on new immersive experiences, whether that's in our own channels or through partnered retail or social media platforms. The Sneakers app has delivered some incredibly compelling experiences this quarter. For example, the venues during Kendrick Lamar's recent tour, we triggered sneakers stash drops to make his Cortez Kenny 3 shoe available exclusively to his fans who were at the show. The Sneakers app is creating incredible demand and capturing more value from that energy is one of Nike's largest upside opportunities for fiscal '19 and beyond. Our investments in the digital experience are also creating a platform for new brand-friendly e-commerce partnerships. Our work with Tmall continues to set the bar for how we co-create shopping experiences through mobile and social. This quarter, we leveraged key shopping moments for AirMax on Tmall's super brand day and young athletes during its parent's channel launch. We continue to expand our presence in digital marketplaces through partnerships like Zalando and EMEA and ZOZOTOWN in Japan, which became fully operational in March. And we see huge potential in merging storytelling and shopping through our social platforms. This quarter, Nike became one of the first companies to drive new consumer experiences in Facebook messenger app, leveraging the AR camera to reveal the Kyrie 4 Red Carpet. Should look for more exciting new shopping experiences with Facebook and other social media platforms in the coming months. And as we noted at investor day, we're also piloting and scaling Nike consumer experiences with key wholesale partners. For example, the Nike certified athletes program turned selective Footlocker's associates into Nike experts. And after showing strong early results, Footlocker will scale the program across North America in Q1. And with JD Group and EMEA, we launched both a physical and digital concept to celebrate AirMax storytelling called Undisputed Air, driving triple-digit growth of Nike Air products in JD versus last year. Digital acceleration is also critical to creating an overall faster company, from consumer insight to responsive manufacturing to delivering products to the consumer when they want it. In other words, it's integral to our TwoX speed initiative. In fiscal '18, we've invested significantly in the capabilities that heighten our ability to sense the market and drive efficiency through our supply chain. We scaled seven key distribution centers around the world this year. One of the facilities in North America is our new Rebound facility, the first to be focused solely on accepting return product and getting it back into the marketplace significantly faster to maximize full price in-season selling. We've also integrated the Zodiac team from our recent acquisition, for giving us new predictive tools and advanced analytics to drive targeted growth. And we continue to develop our sensing capabilities within our key cities and sharpen the express lane, our fastest growing product engine that serves as a key focal point of our speed initiatives. This quarter, the express lane created a substantial impact by extending our in-line stories with new materials and colors as the teams did with the AirMax 270 this quarter. And amplifying the brand concepts we know are connecting best with consumers, like the Tuned Air Mercurial to celebrate World Cup. And capturing emerging trends, like we did in EMEA, with a 90s apparel collection where we identified the trend and quickly delivered product to market. Express lane as a whole, is leading to significantly stronger full price sell-through rates. Through digital, we're also inventing new manufacturing tools that allow us to push the boundaries of product creation, like computational design with React, or new Flyknit apparel, and automation throughout our supply chain continues to drive speed and efficiency. TwoX speed is a multi-year journey, and while we've made progress, we also know there's even greater opportunity ahead in this space. We've closed out the fiscal year with a strong performance across our business. Being closer to the consumer and our new offense has us focused on the biggest growth opportunities, making the right investments with the greatest returns. We fueled increased demand for Nike in fiscal '18 and fiscal '19 will continue that acceleration with an even faster pace of innovation and by serving consumers more completely across our entire portfolio. We have momentum and we're continuing to transform across multiple dimensions and throughout our entire organization. And I'm confident we'll use this quarter as a catalyst for growth into fiscal '19 and beyond. Thanks, and now here's Andy. Andy Campion -- Chief Financial Officer Thank you, Mark, and hello to everyone on the call. Fiscal year '18 was a strategically significant year for Nike. As we began the fiscal year last June, we communicated our new strategy: The consumer direct offense, which we believe would ignite Nike's next horizon of strong, sustainable, profitable growth and transform the company in the process. Met at our investor day this past October, we showcased how our new strategy was already beginning to come to life. We displayed the pipeline of innovative products that we plan to bring to market in the second half of fiscal year '18 on our path to TwoX innovation. We immersed our stakeholders in the relaunch of our Nike and Sneakers app experiences and the new membership services that would ignite TwoX direct. And we shared several of the manufacturing and supply chain initiatives that will help TwoX our speed and ultimately cut our time to market in half. Of course, we also established a new long-term financial model. But perhaps even more notable than the financial goals we established were some of the key operational measures of success that we shared. Those measures of success better define how we will transform Nike into a digitally led enterprise that connects more directly with our consumers globally through our key cities and countries. And as we now close Q4, we are thrilled to see our strategic execution translating into strong financial performance, as both revenue growth and profitability exceeded even our expectations. At the same time, what's even more exciting is that we also delivered across all of our key operational measures of success. And it's worth highlighting a few examples, as these are proof points that Nike's strategic transformation is under way at an accelerated pace. The first we said that new innovation platforms will drive over 50% of our incremental growth over the next five years. In fiscal year '18, revenue from new innovative platforms actually drove over 80% of our incremental growth, fueled by innovative new platforms such as the AirVapor Max, React, the AirMax 270, and ZoomX. We also said that we would TwoX direct with digital commerce growth, both owned and partnered, comprising over 50% of Nike's total company growth over the next five years. In fiscal year '18, Nike Direct, in fact, drove over 90% of our growth. And 100% of our growth was driven by the combination of Nike Direct and partnered Nike consumer experiences. Nike digital in particular grew 34% in Q4 on a constant currency basis and was the single fastest growing channel globally. Yet, for many of the hottest styles launched on Nike digital platforms within the quarter, our supply was only a fraction of the actual demand we experienced. This underscores a significant opportunity to better sense and serve digital demand in fiscal year '19. We also said in October that we expect our international geographies to drive over 75% of our growth and that North America would return to mid-single digit growth over the next five years. For the full year, our international geographies accounted for over 100% of our growth, with greater China growing nearly 2x the rate of any other geography on a currency-neutral basis. And in Q4, North America returned to growth, sharply reversing its prior trend. As Mark said, as we enter fiscal year '19, we are now running a more complete offense across our global portfolio. But before I go deeper into our outlook for fiscal year '19, let's first reflect on the drivers of our strong Q4 results. Nike, Inc. Q4 revenue increased 13%, up 8% on a currency-neutral basis, driven by double-digit international growth and a return to growth in North America. Nike Direct led our growth globally, including 5% comp store growth and 34% digital growth. For the full year, Nike, Inc. revenue increased 6% to $36.4 billion, up 4% on a currency-neutral basis. Gross margin expanded over 60 basis points in Q4, exceeding our own expectations due to accelerating full-price sales and Nike digital growth. For the full year, gross margin contracted just under 80 basis points as strong underlying product profitability was more than offset by a 90 basis point headwind from foreign exchange. Fourth quarter demand creation increased 25%, primarily driven by investments in new sports marketing assets such as Chelsea, Tottenham, and the NBA, brand marketing around key global sporting events such as the NBA finals and the World Cup, and global campaigns supporting the launch of new product innovations. For the full year, demand creation increased 7%. Operating overhead increased 14% for the quarter and 10% for the full year as we're investing in capabilities that will fuel long-term growth, particularly with respect to digital and innovation. Our effective tax rate was 6.4% for the quarter and 55.3% for the full year. The full year rate was significantly higher than the prior year; primarily due to the one-time transition tax associated with US tax reform. Fourth quarter diluted EPS increased 15% to $0.69. Full year diluted EPS declined 53% to $1.17 taking into account the significant one-time impacts of US tax reform. As of May 31st, inventories were up 4%, growing slower than the rate of revenue growth, which is an indication that our supply and demand management efforts over the course of fiscal year '18 have returned Nike to a strong full market globally. Finally, today we're announcing a new four-year, $15 billion share repurchase program. We anticipate that our current $12 billion share repurchase program will be completed within fiscal year '19. This newly expanded authorization, coupled with our dividend program, our evidence of Nike's strong cash flow generation and steadily increasing cash returns to shareholders. Now, let's turn to the financial performance for a few of our reported operating segments. In North America, Q4 revenue grew 3% on a reported basis and currency-neutral basis, led by new innovation platforms, very strong digital growth, continued momentum in sportswear, and broad growth across apparel. We've returned North America to revenue growth and expanding margins and this healthy momentum is carried forward into this new fiscal year. As we expected, digital continues to reshape the consumer experience and to some extent disrupt the more undifferentiated multi-brand wholesale dimensions of the marketplace. However, Nike consumer experiences at retail both owned and partnered and particularly those that leverage a digital connection to the consumer drove over two-thirds of our growth in North America. Digital connections have been critical to launching new and innovative products, creating brand heat, and better serving consumer demand. For example, as part of the Epic React launch, through social media, we invited our consumers to choose go. The Choose Go campaign inspired more than 1 million NikePlus members to participate in a run on the Nike running club app that day and generated over 500 million social media impressions. We also launched an exclusive colorway of the Epic React with Dick's Sporting Goods through a takeover of their digital commerce platform and social media channels. And as Mark detailed, we're in the process of launching the Nike app at retail in key markets, bringing NikePlus membership into the store an accelerating the convergence of digital and physical retail. As for the Jordan brand in North America, we are already back to a pull market and we expect a return to global growth in fiscal year '19. Consumers love the Jordan brand and their passion for the brand is unwavering. At the same time, we saw an opportunity to recalibrate the supply of select styles across distribution channels. While that included tightening the supply in some cases, it also included expanding the supply of the hottest most iconic Jordan styles on the Nike Sneakers app, which has fast become the leading destination for high heat footwear launches globally. We also leveraged both Jordan and Nike launches on the Sneakers app to create compelling new consumer experiences that merge digital and physical with our strategic retail partners. For example, through initiatives such as Shock Drop, Sneakers Path, and Sneaker Stash looking forward, we see tremendous opportunity to continue diversifying the Jordan brand for women in performance and through apparel. For the full year, North America's revenue declined 2% and EBIT was 7% lower. However, our Q4 results in North America reflect a reversal of trend and sustainable momentum going into fiscal year '19. Moving to EMEA, where revenues grew 10% on a currency-neutral basis in Q4, driven by strong growth in global football, sportswear, and running. Our apparel business is also particularly strong across Europe, with global football apparel approaching triple-digit growth in Q4 fueled by high energy, national pain collections associated with the World Cup. In footwear, AirMax continues to be the dominant platform in the region, with the AirMax 270 becoming the #1 style across key European markets and AirMax month in March propelling sportswear to record full-year revenues. The Nike brand is also #1 in all of our key cities across Europe, fueled by campaigns such as Nothing Beats a Londoner that amplified the authentic voice of over 200 London consumers along with influences such as Skepta and several of the world's greatest athletes, including Mo Farah, Harry Kane, and others. This is a great example of a hyper-local city campaign that resonated with our consumers globally. While Nike Direct continues to lead all dimensions of growth in EMEA, JD, for example, has also been a very strategic partner for Nike. JD continues to leverage digital connections with consumers and differentiated store concepts, including size, to both create and serve demand. And we look forward to the best practices that they will bring to the North America marketplace. For the full year, currency-neutral revenue growth was 9%, fueled by double-digit growth in sportswear and across apparel. On a reported basis, fiscal year '18 revenues grew 16% and EBIT increased 5% as strong revenue growth was offset primarily by transactional FX headwinds on gross margin. So next, let's turn to greater China. In Q4, greater China's growth accelerated to 25% on a currency-neutral basis, including strong double-digit growth across all categories, the Jordan brand, and across our women's business. Nike digital growth continues to outpace all other marketplace dimensions and we continue to partner with and learn from China's leading digital platforms. Through our partnership with Tmall, our first ever AirMax super brand day in March became our largest day on the platform, second only to singles day for the year. And with Tencent, we launched our Shoes Go campaign through digital media, inspiring 2 million runners to participate in a seven-week running journey and creating strong demand for the Epic React. For the full year, revenue from greater China increased 18% on a currency-neutral basis, driven by running, sportswear, the Jordan brand, and Nike basketball. On a reported basis, fiscal year revenues were up 21% and EBIT increased 20%. There are several drivers of the extraordinary long-term growth potential we see in greater China. From favorable macroeconomics to the rise of sport and fitness, to the scale and impact of digital, to the strength of the Nike brand. Accordingly, we will continue to invest, to extend our leadership in the strategically important and fast-growing market. In APLA, Q4 revenue grew 13% on a currency-neutral basis. Growth was strong across all key countries within this diverse geography and is being fueled by our focus on creating brand energy in key cities and through digital. In fact, while Nike digital growth was strong in every geography, APLA's digital growth led the pack. In addition to strong Nike Direct digital growth, growth renew entrepreneurial digital partners also accelerated. Looking forward, we will continue to drive digital momentum by scaling the Nike and Sneakers app across key countries within APLA while also continuing to explore and scale these digital partnerships. For the full fiscal year, revenue increased 10% on a currency-neutral basis fueled by balanced growth across all categories, including the Jordan brand and our women's business. On a reported basis, full-year revenues for the fiscal year increased 9%. While EBIT was up 21%, reflecting gross margin expansion and SGNA leverage. And finally, at Converse, revenue declined 11% on a currency-neutral basis for fiscal year '18 and declined 14% in the fourth quarter. Contraction was primarily driven by the decision to right size wholesale distribution in North America and EMEA. At the same time, Converse direct grew double-digits in Q4, including strong double-digit growth in digital for the full year with acceleration in Q4. On a reported basis, full-year revenues were down 8% and EBIT declined 35%. As we move into fiscal year '19, we are reigniting energy in the Converse brand and diversifying Converse's product portfolio both through Converse's authentic positioning in sport and through new sportswear styles and collaborations. In fiscal year '19, Converse will also launch a more direct, branded, and immersive digital experience to drive closer connections between the Converse brand and its passionate consumers. Fiscal year '19 will be the first full year of execution against Nike's consumer direct offense and the long-term financial goals that we detailed at our investor day. As we are now deeper into the execution of our new offense, it is becoming increasingly clear that digital is transforming how we operate and will favorably reshape our economic model over the long-term. Digital is inflecting our revenue growth and has a favorable mix impact on our gross margin as we capture more of the value that we are creating for consumers. As for SGNA, we will continue to accelerate investment in scalable, digital experiences and capabilities, building both organically and through acquisitions. At the same time, we're already seeing how upfront investments and experiences, like the Nike and Sneakers apps, and in capabilities such as data and analytics, can be efficiently leveraged globally to better serve our consumers across our key markets. Finally, digital also creates the potential for win-win economic models with our wholesale partners over time as they transform their retail experiences to serve the next generation of digitally native consumers. Taking all of these dynamics into account, we are updating our guidance for fiscal year '19. As of our last earnings call, we expected mid to high single-digit revenue growth in fiscal year '19. As we now close Q4, our expectations for revenue growth in fiscal year '19 have moved up slightly, entering the high single-digit range. This improved outlook takes into account building consumer demand for Nike. However, we are also mindful of renewed FX volatility in the strengthening dollar of late. As for gross margin, we now expect expansion of roughly 50 basis points or slightly greater, fueled by strong full price sales, expanding average selling prices, and growth in our Nike Direct businesses partially offset by higher input costs. As for SGNA, we will continue to prioritize investment in new digital consumer experiences and capabilities, in product innovation, and in brand marketing. As such, in fiscal year '19, we expect SGNA to grow roughly in the same range as revenue growth. We are not targeting SGNA leverage in fiscal year '19. We are capturing productivity gains within SGNA, but we will use that incremental capacity to invest strategically for the long-term. As for other expense, net of interest expense, we expect roughly 125 to 150 million of expense for the full year. We see our effective tax rate being in the mid-teens range or potentially slightly higher for the full year. It's important to note that our tax rate will continue to be volatile based upon the full implementation and further guidance with respect to US tax reform. Variation in our mix of earnings geographically will also have an impact as will the impact of stock-based compensation and other discrete items. Our focus will remain on driving strategic transformation and delivering strong growth over the long-term, more so than on the results in any individual quarter. That said, for some additional context as we enter the fiscal year, we expect the same level of revenue growth in Q1 as we do for the full year. We also expect less gross margin expansion in the first half as compared to the second half of the year. And finally, as for SGNA, our investment will be more frontloaded toward the first half of the fiscal year, driven by key consumer and sports moments such as the World Cup. The consumer direct offense is transforming how we operate at Nike and how we will create value for shareholders going forward, more specifically digital is proving to be as transformative as we expected and potentially even more so. We still have much work to do ahead of us to realize the full potential of our new office, offense. That said; it is clear as we accelerate into fiscal year '19 that we have now ignited Nike's next horizon of strong, sustainable profitable growth. With that, we'll now open the call up for questions. Questions and Answers: Operator At this time, I would like to remind everyone in order to ask a question, press * then the number 1 on your telephone keypad. Your first question comes from the line of Bob Drbul from Guggenheim. Your line is open. Bob Drbul -- Guggenheim -- Analyst Hi guys, good afternoon. I guess the question that I have is, on the North American market, you talk a lot about the sustainability of the growth in the US. As you look throughout the next fiscal year in terms of -- is it an expectation for the low single-digit increase, is it expected to accelerate based on what you're seeing? I was wondering if you could just comment a little bit more around the outlook in the North American market. Andy Campion -- Chief Financial Officer Sure. We do see sustainable momentum in North America. As you know, our investor day guidance for North America was that we believed it was a mid-single-digit growth market over the next five years. And so we don't typically provide geographical specific guidance certainly by quarter or for the full year. But I would say that we have momentum going into the year and that's really primarily fueled by new innovation platforms that we're scaling; Nike Direct, certainly Nike digital, which accelerated to well over 30% growth, driven by strong results on sneakers and through membership, and then I'd note that importantly, we've returned North America to a healthy pull market. Inventory is clean, up only 2%. Full price sales are accelerating, off-price sales are declining, and gross margins are expanding. We do see strong momentum, sustainable momentum going into fiscal year '19, but we are providing specific guidance by line item by geography. Mark Parker -- Chairman, President, and Chief Executive Officer And much of what you saw in terms of Q4 in terms of the momentum that has been building, we'll see that continue throughout the fiscal year. I'll put an exclamation point on the product as being a driving force beyond just executing some of the basics better across the board. Bob Drbul -- Guggenheim -- Analyst Okay, great, I just have a follow-up question, I think for Mark. The LeBron watch, can you just give us some insight into where you expect LeBron to land in free agency this year? Mark Parker -- Chairman, President, and Chief Executive Officer I'm not going there. I think wherever he goes he's going to help his team more than anybody else I think in the league. Everybody wants to know that question but I can't give you any more insight. Operator Your next question comes from the line of Kate McShane from Citi. Your line is open. Kate McShane -- Citi -- Analyst Hi, thank you, thanks for taking my question. My question is centered around Jordan. You made a couple of comments in the prepared comments about the brand. But I was curious -- could you remind us now that you're back into the pull model, how big [inaudible] in terms of dollars? Could you also maybe walk us through the fact that the retro versus the marquee business in the [inaudible] and any significant change in the pricing structure within Jordan? Andy Campion -- Chief Financial Officer Kate, if you refer to our earnings release, this is the time of the year where we actually report our revenue by category and what you would see in the release is the Jordan brand for the 12 months end of this fiscal year was about $2.85 billion. Mark Parker -- Chairman, President, and Chief Executive Officer Can you repeat the second part of that question, too, of the pricing? Kate McShane -- Citi -- Analyst Just if there was any change in the structure of the pricing now that you're back to the pull model for the brand? Andy Campion -- Chief Financial Officer From a pricing perspective, I'd say the leading indicator in terms of the strength of the Jordan brand is that we're seeing strong false price [inaudible] . In fact, it might be an understatement to say that our inventories are clean in North America. And that was not a result of adjusting prices. That was entirely about right-sizing supply and within distribution channels. And what we've seen is that certainly with respect to the hottest styles and the most iconic styles, we've had extraordinary demand. Again, demand that outpaced the supply that we had planned particularly with respect to our digital experiences like the Sneakers app. So we continue to feel that there's great price value there and certainly as we bring innovation and storytelling to those icons and across the rest of the Jordan line. Operator Your next question comes from the line of Jamie Merriman from Bernstein. Your line is open. Jamie Merriman -- Bernstein -- Analyst Thank you very much. I had two questions related to digital. Andy, you talked about the investments that you're making in digital and the visibility that you have in terms of the results that that is delivering. But can you talk a little bit about how you think about the ultimate opportunity from a profitability perspective as that business does scale? And then the second part would be, you mentioned Tmall as setting the bar in terms of your digital partners, you didn't talk about Amazon, so I'm just wondering if there are learnings from the Tmall relationship that you could work with Amazon to apply or if there's an opportunity there? Thank you. Andy Campion -- Chief Financial Officer Sure. I'll start with your question around the impact of digital. It's a great question and a timely question. As both Mark and I detailed, we saw acceleration in digital that quite frankly exceeded even our own expectations. It wasn't by accident. We'd certainly been investing both organically in digital experiences, such as some of the experiences we've shared with respect to our membership initiatives, as well as in capabilities. You've heard us refer to our acquisitions in Virgin Mega and Verdicts and Zodiac over time. And so, that acceleration is definitely a result of the investment. In terms of our evolving view of the impact of digital on our economic model or how we create value for shareholders, we do see digital being a platform that helps us better optimize supply and demand. We obviously get a very direct read and signals from consumers in terms of which products they are most interested in and that ultimately helps us amplify revenue growth through full price sales. When we're leveraging digital in a more direct way, we obviously capture more of that revenue at the retail price when we are leveraging digital with our partners. We do see a benefit from a full price sale and a win-win relations with our partners. Digital commerce also has margins that are favorable from a mix perspective relative to our traditional wholesale bricks and mortar business. From an SGNA perspective, I would suggest there are two ways to look at it. One is short, medium, and long-term, and then the other one is specifically more in the shorter term. I think short, medium, and long-term, what we're finding is that the capabilities or experiences we're building in digital are very scalable. And they're scalable and efficient way. You think about creating experiences around the Sneakers or Nike apps and to the extent we have success in the market where we launched that, we're then able to take that investment we've already made and leverage it in markets around the world and we're certainly see that for example with the sneakers app which is #1 in Japan in terms of free applications. We've seen millions of downloads of that app since launch in China, leveraging a lot of that upfront initial investment. We think it's a sort of leverage. At the same time, because we're focused on the long-term and we do think digital has the ability to really inflect our value creation, we're accelerating the investments that we're making in digital now to accelerate us down that path. Mark Parker -- Chairman, President, and Chief Executive Officer And quickly on Amazon -- I would just say that our partnership is progressing well. We remain focused on elevating the consumer experience on the platform. We're learning a lot, applying. And you mentioned Tmall; we did call that partnership out in our prepared remarks. Tmall has been an exceptional partner for us. I think the main focus is on elevating the brand profile and experience on the platform. And that'll continue to be the focus as we explore next steps with Amazon. And I'll call out our other digital platform partners, too, Zalando and ASOS and some of the others I mentioned earlier, that this is a critical part of our digital opportunity going forward beyond what we're doing direct. Operator Your next question comes from the line of Jim Duffy from Stifel. Your line is open. Jim Duffy -- Stifel -- Analyst Thank you, hello everyone. One of the things that jumped out at me from the call is the notable success you're having capitalizing on sneaker culture for women. How far are you down the runway on this and can you highlight some things to look for in fiscal '19 and beyond? Mark Parker -- Chairman, President, and Chief Executive Officer I would say that we're in the early stages here. To be frank, the demand that we've created from our Sneakers app has greatly exceeded our expectations and done so quickly, both for men and for women. This is, and I mentioned this before, but one of the biggest upside opportunities I think we have over the course of fiscal '19 and beyond. The response has been phenomenal and it's truly an area that we're excited about catching up, meeting end to end, being at a position to serve that incredible increase in demand that we've got from Sneakers and the whole sneaker culture, which is now a global and connected community that is creating, again, incredible buzz around the world and incredible demand. In some ways, it's a great problem to have, but we've got a lot of upside opportunity here. Jim Duffy -- Stifel -- Analyst Great, and then Mark, leveraging data clearly a focus. Where are you in the process of providing data to some of the upstream operating units like design and demand planning and putting them in a position to use that data to inform business decisions? Mark Parker -- Chairman, President, and Chief Executive Officer That's a great question. I'd say we're on the early stages. This is a constantly moving opportunity for us, design and product creation and the express lane, the supply chain -- they're all connecting digitally, its predictive demand planning, sensing and demand planning is absolutely a critical part. Advancing this capability, moving forward. I feel like we're making a tremendous progress in that respect. I think this next fiscal year will be an acceleration of the use of data to inform product design and capabilities going forward. And then, it's actually impacting how we manage our supply chain in our manufacturing flexibility and response time. I think you'll see a lot of scaling of the data and analytics capabilities for Nike here in the month and quarters ahead. Operator Your next question comes from the line of Simeon Siegel from Nomura Instinet. Your line is open. Simeon Siegel -- Nomura Instinet -- Analyst Thanks, hi guys, and congrats on the strong end to the year. Just looking for the route over that multi-year mid-single digit North American number. Is there any color you could share on how you view footwear and apparel and any distinction there in terms of how you see the competitive dynamic? Thank you. Mark Parker -- Chairman, President, and Chief Executive Officer Actually, we see strength across both product types: Footwear and apparel. Both are competitive marketplaces for Nike in North America but around the world. The health of the business both on the footwear and the apparel side is actually quite strong in demand that we're seeing. We're equally focused on innovation, both in performance and lifestyle, in footwear and apparel. But we see the results that we've rated in Q4 and the momentum that's building -- we'll see that continue throughout the fiscal year. Very bullish on both footwear and apparel, both [inaudible] performance and certainly sportswear. Andy Campion -- Chief Financial Officer I just note that in the quarter, in North America the return to growth was fueled by growth in both footwear and apparel with a slightly faster rate of growth in apparel and part of that rate of growth was impacted by our new partnership with the NBA and Mark referenced some of the new styles that we brought to the assortment with the NBA and then more broadly across our line in basketball. Mark Parker -- Chairman, President, and Chief Executive Officer I'll mention too, it's a [inaudible] men's and women. Women's is a major growth area for Nike in both footwear, we mentioned sneakers, and in sportswear, success that we're seeing, but likewise in apparel, again, particularly in the sportswear area. Simeon Siegel -- Nomura Instinet -- Analyst And so to the point about the digital strength. Do you see any distinction between apparel and footwear online as that business grows? Or is broad-based? Mark Parker -- Chairman, President, and Chief Executive Officer It's actually fairly broad-based. We see it both in physical and digital, direct, and wholesale. But certainly, of the footwear side, we're seeing incredible spikes in demand as I mentioned with our direct business, particularly around the Sneakers mobile app. And again, expect that to continue. On the apparel side, I think it's a bit more balanced. Operator Your next question comes from the line of Chris Svezia from Wedbush. Your line is open. Chris Svezia -- Wedbush -- Analyst Thank you, everyone, for taking my questions. Congratulations. I guess just first, Western Europe. I'm just curious beyond the World Cup, what's your ability to maintain some of the momentum you're seeing, whether it's in footwear or apparel, maybe of any color by region, either digital or TTC? Just sort of what you're seeing in that market that might give you some confidence that that momentum can continue once you get through the World Cup event. Mark Parker -- Chairman, President, and Chief Executive Officer I think the underlying health of the business for Nike and Europe is actually quite strong beyond what we're seeing in the World Cup. And again, I think that's both in footwear and apparel. Similarly to the North America, we have a clean marketplace seeing growing full price sales. We're outpacing the marketplace overall. It's the same dynamics; new product innovation is resonating, especially in some of the key styles we mentioned, like the AirMax franchise, the AirMax 270, the VaporMax. We're editing our product mix. We're creating more choice but focusing on key products and that's really helping to drive our strength in the marketplace. I think the focus, too, on the key cities with hyper-local products and a lot of that's fueled by our express lane, is really clicking into gear in Europe. So we are over-indexing in Europe and again, beyond the World Cup, we expect that to continue. Chris Svezia -- Wedbush -- Analyst And Andy, for you -- you outperformed Q4 on the gross margin, you got it to roughly 50 basis points for fiscal year '19 but it seems like some of the drivers are accelerating around product, favorable channel mix, and I believe also FX starts becoming incremental [inaudible] . Could you maybe just walk through what other pieces we might be missing that go into that gross margin? I think you threw out product cost. But any color around that would be helpful. Andy Campion -- Chief Financial Officer Sure. As I said, we see strong gross margin expansion fiscal year '19. You know that our long-term financial model is to deliver as much as 50 basis points of expansion. And we have updated that outlook to be 50 basis points or slightly greater. That's led by stronger full price selling as well as over-indexing growth in our higher margin make it direct businesses. While FX headwinds are now behind us, we're not forecasting significant FX tailwinds based on current rates and based on FX volatility being renewed of late, we're being measured in that regard even as we look out for the second half of the year. We are forecasting, as you know, at a better pressure on gross margin from select input cost headwinds within labor, oil, freight, materials. And then I should note that our margins within our margins different than many of our peers, we capture a significant portion of our supply chain cost where some of our peers capture those costs in SGNA and so as we're investing to TwoX speed, we do have some investments in revolutionizing manufacturing and other initiatives that are in that line item of RPNL. Operator Your last question comes from the line of Matt McClintock from Barclays. Your line is open. Matt McClintock -- Barclays -- Analyst Hi, yes, good afternoon everyone. Andy, I wanted to follow-up on something you said in your remarks. You said supply was only a fraction of the demand. And that sounds like a pretty good problem to have. But I was wondering, in the context of TwoX speed as you were just saying, how do we think about optimizing the total value or the total projected value of a new shoe or new sneaker in a world where you have TwoX speed and consumer demand is changing at an accelerating rate? Andy Campion -- Chief Financial Officer As you put it, I think you said it was a nice problem to have. We see it as a great opportunity to really serve the consumers who have extraordinary demand for that product better. So frankly, along the lines of the notion of TwoX speed, we're attacking that opportunity with a lot of urgency. Not just because it is a revenue upside potential driver, which it certainly is. As I said, the supply that we had against some of the [inaudible] we saw on some of the hottest styles was, as I said, but a fraction of that demand. We also see it as a great opportunity to both serve in terms of the product they want but also connect in a deeper way with those passionate consumers -- many call them "sneakerheads" -- who have chosen to connect with us as members on the Nike app and Sneakers. In terms of TwoX speed, I think even elevating as Mark said; the digital transformation at Nike really is an end-to-end notion. When we think about demand sensing, the greatest opportunity we have is to sense the demand and even in a more nuanced way -- the signals and the preferences from the consumers that we're connecting with this directly on Sneakers. We use things like notify me initiative, draws, pre-orders, and we're coming up increasingly with even more creative ways to get a sense for how robust the demand is, either for specific products or for types of products that we may be planning to bring to market. Matt McClintock -- Barclays -- Analyst Perfect. Thank you very much for that color. Mark Parker -- Chairman, President, and Chief Executive Officer Thank you, everyone, for joining us today. I'd like to, again, just apologize for the technical difficulties we had earlier. We were receiving some noisy feedback. It was a great quarter though, so if you have some business related feedback or questions related to that, feel free to reach out to the investor relations team. We look forward to speaking with you next quarter. Thank you very much. Operator This concludes today's conference call. You may now disconnect. Duration: 65 minutes Call participants: Natesh Sharan -- Vice President of Investor Relations and Treasurer Mark Parker -- Chairman, President, and Chief Executive Officer Andy Campion -- Chief Financial Officer Bob Drbul -- Guggenheim -- Analyst Kate McShane -- Citi -- Analyst Jamie Merriman -- Bernstein -- Analyst Jim Duffy -- Stifel -- Analyst Simeon Siegel -- Nomura Instinet -- Analyst Chris Svezia -- Wedbush -- Analyst Matt McClintock -- Barclays -- Analyst More NKE analysis This article is a transcript of this conference call produced for The Motley Fool. While we strive for our Foolish Best, there may be errors, omissions, or inaccuracies in this transcript. As with all our articles, The Motley Fool does not assume any responsibility for your use of this content, and we strongly encourage you to do your own research, including listening to the call yourself and reading the company's SEC filings. Please see our Terms and Conditions for additional details, including our Obligatory Capitalized Disclaimers of Liability. More From The Motley Fool 3 Growth Stocks at Deep-Value Prices 5 Expected Social Security Changes in 2018 6 Years Later, 6 Charts That Show How Far Apple, Inc. Has Come Since Steve Jobs' Passing 10 Best Stocks to Buy Today The $16,122 Social Security Bonus You Cannot Afford to Miss Bitcoin's Biggest Competitor Isn't Ethereum -- It's This The Motley Fool owns shares of and recommends Nike. The Motley Fool has a disclosure policy . \|\| Bitcoin Continues Retreat Amid Falling Demand for Cryptos: Investing.com – Bitcoin continued to trade around the $6,000 mark as traders remained in wait-and-see mode amid a lack of meaningful data to determine direction. Bitcoin fell 0.97% to $6,077.0 on the Bitfinex exchange, after hitting a session high of $6,192.7. Bitcoin barely moved, trading in a narrow $140 range, as interest in trading the popular crypto appears to be on the wane, reducing the prospect of meaningful moves in either direction. While there appears to be no single reason for the demise in the popular crypto, negative remarks on cryptos continue to sour sentiment. Cryptocurrencies are highly volatile, vulnerable to fraud and may give rise to “reputational risks” for businesses that get involved with the assets, warned the the deputy governor of the Bank of England in a letter to banks, insurers and investors. Bitcoin trading volumes on the bitfinex exchange look set to post a fourth-straight monthly decline, averaging around 644,000 contracts so far this month, that is well below the 2.3 million contracts traded at the peak in December, when bitcoin soared to a record $20,000. Falling trading activity in bitcoin has seen the total crypto market cap continue to drop – a sign of falling demand. The total market cap of cryptocurrencies fell to about $244 billion, at the time of writing, from $248 billion on Wednesday, as traders fled holdings of other large-cap cryptos. Ripple XRP fell 3.03% to $0.45557 on the Poloniex exchange, while Ethereum fell 0.48% to $432.60. Bitcoin Cash fell 4.06% to $681.00, while Litecoin fell 2.84% to $77.77. Related Articles BoE Reminds Local Banks, Insurers of Risks Associated with Crypto Assets Line Opens New Cryptocurrency Exchange Despite Bear Run Positive News Not Moving Bitcoin’s Price Higher, So What Will? \|\| Bitcoin Continues Retreat Amid Falling Demand for Cryptos: Investing.com – Bitcoin continued to trade around the $6,000 mark as traders remained in wait-and-see mode amid a lack of meaningful data to determine direction. Bitcoin fell 0.97% to $6,077.0 on the Bitfinex exchange, after hitting a session high of $6,192.7. Bitcoin barely moved, trading in a narrow $140 range, as interest in trading the popular crypto appears to be on the wane, reducing the prospect of meaningful moves in either direction. While there appears to be no single reason for the demise in the popular crypto, negative remarks on cryptos continue to sour sentiment. Cryptocurrencies are highly volatile, vulnerable to fraud and may give rise to “reputational risks” for businesses that get involved with the assets, warned the the deputy governor of the Bank of England in a letter to banks, insurers and investors. Bitcoin trading volumes on the bitfinex exchange look set to post a fourth-straight monthly decline, averaging around 644,000 contracts so far this month, that is well below the 2.3 million contracts traded at the peak in December, when bitcoin soared to a record $20,000. Falling trading activity in bitcoin has seen the total crypto market cap continue to drop – a sign of falling demand. The total market cap of cryptocurrencies fell to about $244 billion, at the time of writing, from $248 billion on Wednesday, as traders fled holdings of other large-cap cryptos. Ripple XRP fell 3.03% to $0.45557 on the Poloniex exchange, while Ethereum fell 0.48% to $432.60. Bitcoin Cash fell 4.06% to $681.00, while Litecoin fell 2.84% to $77.77. Related Articles BoE Reminds Local Banks, Insurers of Risks Associated with Crypto Assets Line Opens New Cryptocurrency Exchange Despite Bear Run Positive News Not Moving Bitcoin’s Price Higher, So What Will? \|\| Bitcoin Continues Retreat Amid Falling Demand for Cryptos: Investing.com Bitcoin continued to trade around the $6,000 mark as traders remained in wait-and-see mode amid a lack of meaningful data to determine direction. Bitcoin fell 0.97% to $6,077.0 on the Bitfinex exchange, after hitting a session high of $6,192.7. Bitcoin barely moved, trading in a narrow $140 range, as interest in trading the popular crypto appears to be on the wane, reducing the prospect of meaningful moves in either direction. While there appears to be no single reason for the demise in the popular crypto, negative remarks on cryptos continue to sour sentiment. Cryptocurrencies are highly volatile, vulnerable to fraud and may give rise to reputational risks for businesses that get involved with the assets, warned the the deputy governor of the Bank of England in a letter to banks, insurers and investors. Bitcoin trading volumes on the bitfinex exchange look set to post a fourth-straight monthly decline, averaging around 644,000 contracts so far this month, that is well below the 2.3 million contracts traded at the peak in December, when bitcoin soared to a record $20,000. Falling trading activity in bitcoin has seen the total crypto market cap continue to drop a sign of falling demand. The total market cap of cryptocurrencies fell to about $244 billion, at the time of writing, from $248 billion on Wednesday, as traders fled holdings of other large-cap cryptos. Ripple XRP fell 3.03% to $0.45557 on the Poloniex exchange, while Ethereum fell 0.48% to $432.60. Bitcoin Cash fell 4.06% to $681.00, while Litecoin fell 2.84% to $77.77. Related Articles BoE Reminds Local Banks, Insurers of Risks Associated with Crypto Assets Line Opens New Cryptocurrency Exchange Despite Bear Run Positive News Not Moving Bitcoins Price Higher, So What Will? \|\| Apple Reportedly Making Progress Bringing on Second OLED Supplier: The OLED display on last year's iPhone X is one of that flagship's headline features, but thus farApple(NASDAQ: AAPL)has relied entirely on a single source for OLED panels, frenemySamsung. Only having one supplier for a critical component is never ideal, as it gives that supplier much better negotiating leverage. The premium prices associated with OLED displays are a significant contributing factor to iPhone X's lofty price point, and Apple has reportedly beenseeking pricing concessionsfrom the South Korean conglomerate. Apple has been working to bringLG Display(NYSE: LPL)onboard as a second supplier, but the latter company has beenhitting roadblocksin terms of manufacturing capacity and quality requirements. However, it sounds like LG is making progress. Image source: Apple. Bloombergreports that a deal with LG is imminent, although the supplier is only expected to provide a relatively small number of units to Apple -- just 2 million to 4 million. Apple sold 77.3 million total iPhones in the fourth quarter alone, although it does not disclose unit mix, so it's not clear how many of those were iPhone X models with OLED displays. That would just be a start though, paving the way for the company to purchase "significant volumes" from LG in 2019, according to the report. Apple is expected to release three new iPhones in 2018, of which two will incorporate OLED displays. LG is vying to be the sole supplier for at least one of those models but may not be able to secure such a commitment from Apple. China's BOE Technology, one of numerous Chinese companiesinvesting in OLED capacity, is also in talks with Apple to supply OLED panels, although it remains behind schedule with production. The more OLED suppliers that can ramp production capacity, the better for Apple, as ensuing competition among suppliers would help drive down costs and subsequently accelerate adoption in the form of lower consumer prices. More broadly, the OLED market has hit some setbacks recently, which have weighed onUniversal Display(NASDAQ: OLED): Shares are down 60% from the all-time high set in January. For example, market leader Samsung saw OLED shipments fall 26% in the first quarter to 88 million units, according to UBI Research. UBI was expecting the market to start recovering this quarter, but CLSA thinks it will take longer than that. Samsung's capacity utilization is still extremely low at around 35%, but this figure should rise to 80% in the second half of the year, in CLSA's view. OLED technology should stillenjoy a few yearsas the dominant display technology once it reaches mainstream adoption, despite some technological threats on the horizon like MicroLED. It will just take some time to get there, but at least Apple is now pitching in to catalyze adoption. More From The Motley Fool • 3 Growth Stocks at Deep-Value Prices • 5 Expected Social Security Changes in 2018 • 6 Years Later, 6 Charts That Show How Far Apple, Inc. Has Come Since Steve Jobs' Passing • 10 Best Stocks to Buy Today • The $16,122 Social Security Bonus You Cannot Afford to Miss • Bitcoin's Biggest Competitor Isn't Ethereum -- It's This Evan Niu, CFAowns shares of Apple and Universal Display. The Motley Fool owns shares of and recommends Apple and Universal Display. The Motley Fool has the following options: long January 2020 $150 calls on Apple and short January 2020 $155 calls on Apple. The Motley Fool has adisclosure policy. \|\| Apple Reportedly Making Progress Bringing on Second OLED Supplier: The OLED display on last year's iPhone X is one of that flagship's headline features, but thus far Apple (NASDAQ: AAPL) has relied entirely on a single source for OLED panels, frenemy Samsung . Only having one supplier for a critical component is never ideal, as it gives that supplier much better negotiating leverage. The premium prices associated with OLED displays are a significant contributing factor to iPhone X's lofty price point, and Apple has reportedly been seeking pricing concessions from the South Korean conglomerate. Apple has been working to bring LG Display (NYSE: LPL) onboard as a second supplier , but the latter company has been hitting roadblocks in terms of manufacturing capacity and quality requirements. However, it sounds like LG is making progress. iPhone X lineup Image source: Apple. A small start Bloomberg reports that a deal with LG is imminent, although the supplier is only expected to provide a relatively small number of units to Apple -- just 2 million to 4 million. Apple sold 77.3 million total iPhones in the fourth quarter alone, although it does not disclose unit mix, so it's not clear how many of those were iPhone X models with OLED displays. That would just be a start though, paving the way for the company to purchase "significant volumes" from LG in 2019, according to the report. Apple is expected to release three new iPhones in 2018, of which two will incorporate OLED displays. LG is vying to be the sole supplier for at least one of those models but may not be able to secure such a commitment from Apple. China's BOE Technology, one of numerous Chinese companies investing in OLED capacity , is also in talks with Apple to supply OLED panels, although it remains behind schedule with production. The more OLED suppliers that can ramp production capacity, the better for Apple, as ensuing competition among suppliers would help drive down costs and subsequently accelerate adoption in the form of lower consumer prices. Story continues OLED setbacks More broadly, the OLED market has hit some setbacks recently, which have weighed on Universal Display (NASDAQ: OLED) : Shares are down 60% from the all-time high set in January. For example, market leader Samsung saw OLED shipments fall 26% in the first quarter to 88 million units, according to UBI Research. UBI was expecting the market to start recovering this quarter, but CLSA thinks it will take longer than that. Samsung's capacity utilization is still extremely low at around 35%, but this figure should rise to 80% in the second half of the year, in CLSA's view. OLED technology should still enjoy a few years as the dominant display technology once it reaches mainstream adoption, despite some technological threats on the horizon like MicroLED. It will just take some time to get there, but at least Apple is now pitching in to catalyze adoption. More From The Motley Fool 3 Growth Stocks at Deep-Value Prices 5 Expected Social Security Changes in 2018 6 Years Later, 6 Charts That Show How Far Apple, Inc. Has Come Since Steve Jobs' Passing 10 Best Stocks to Buy Today The $16,122 Social Security Bonus You Cannot Afford to Miss Bitcoin's Biggest Competitor Isn't Ethereum -- It's This Evan Niu, CFA owns shares of Apple and Universal Display. The Motley Fool owns shares of and recommends Apple and Universal Display. The Motley Fool has the following options: long January 2020 $150 calls on Apple and short January 2020 $155 calls on Apple. The Motley Fool has a disclosure policy . \|\| This Electric Semi Is Trucking Right Past Tesla's: German auto and truck giantDaimler AG(NASDAQOTH: DDAIF)said that two big-truck operators, Penske Truck Leasing and NFI Industries, have agreed to begin usingtwo all-new electric Freightliner trucksin a pilot program -- starting later this year.This is significant. While it may be a while before consumers adopt electric vehicles in huge numbers, the trucking industry is very interested in the technology's potential to cut fuel costs while greatly reducing emissions. It's a market thatTesla(NASDAQ: TSLA)has been hoping to enter -- but as of right now, it looks like Freightliner is ahead of the Silicon Valley upstart's big-truck effort. The Freightliner eCascadia is a battery-electric tractor-trailer with 250 miles of range. It will go into production in 2021. Image source: Daimler AG. Daimler said that two companies that operate fleets of big trucks have signed up to participate in the pilot program for the two new electric trucks being developed by its Freightliner brand: • Penske Truck Leasing is a corporate sibling ofPenske Automotive Group(NYSE: PAG)that leases and maintains over 240,000 trucks around the world. • NFI Industries is a full-service logistics company, a freight hauler that operates a fleet of over 4,000 tractors and 8,700 trailers. Daimler said that it will supply Penske and NFI with a test fleet of 30 prototype electric trucks before the end of the year. The two companies will evaluate the new Freightliners, working closely with Freightliner engineers to provide detailed feedback to help the company refine the trucks' designs. Freightliner has two electric trucks in development now.The first, called the eCascadia, is a full-blown Class 8 ("tractor trailer") heavy truck. It has a 550 kilowatt-hour (kWh) battery, good enough for a range of about 250 miles with a fully loaded trailer. That battery pack has some fast-charging capability: It can be recharged to 80% capacity (or about 220 miles of range) in less than 90 minutes. The second electric Freightliner, the eM2 106, is what the industry calls a "last mile" truck -- intended for local-level distribution and deliveries. It has a 325-kWh battery pack, giving it a range of about 230 miles when loaded. That battery pack can be recharged to 80% (about 184 miles of range) in less than 60 minutes. Freightliner's eM2 106 is a battery-electric "last mile" truck for deliveries. Image source: Daimler AG. Daimler expects to begin mass-producing both trucks in 2021, incorporating the lessons learned in this pilot program with Penske and NFI. As with just about everything involving Tesla, there has been a lot of attention and investor interest around its Semi. The Tesla Semi is a battery-electric Class 8 (tractor-trailer) truck that features the automaker's distinctive edgy styling. Tesla has said that the Semi will be offered with 300-mile and 500-mile battery packs when it comes to market... eventually. Tesla has received somesmall early orders(and deposits, of course) for the Semi from major truck operators looking to kick the new truck's tires. Again, like everything else having to do with Tesla, expectations for the Semi and estimates of its market potential are huge. Tesla has built a few prototypes of its Semi, a sleek battery-electric heavy truck. But it's not clear when (or where) it'll go into production. Image source: Tesla, Inc. But the reality is that, as of right now at least, Tesla doesn't appear to have made any effort to finish the Semi's development and begin production. It doesn't appear to have any factory space to build the truck, for starters: As of right now, Model 3s are being finished in a temporary building in the parking lot of Tesla's factory. And given itsall-out effortto get production of its compact sedan up to speed, it seems unlikely that Tesla's engineers have had much bandwidth to work on the Semi since it was revealed last fall. Tesla has fostered big, big expectations for the Semi -- but it's not clear when (or whether) it'll be ready to deliver. Meanwhile, the current prototype version of the eCascadia might not quite match the Tesla Semi's range, but it's on schedule for a 2021 launch -- and it's coming from a company that truck-fleet operators know they can trust. For now, at least, I think we have to conclude that Tesla is in an unaccustomed position with its heavy truck: behind at least one legacy company. More From The Motley Fool • 3 Growth Stocks at Deep-Value Prices • 5 Expected Social Security Changes in 2018 • 6 Years Later, 6 Charts That Show How Far Apple, Inc. Has Come Since Steve Jobs' Passing • 10 Best Stocks to Buy Today • The $16,122 Social Security Bonus You Cannot Afford to Miss • Bitcoin's Biggest Competitor Isn't Ethereum -- It's This John Rosevearhas no position in any of the stocks mentioned. The Motley Fool owns shares of and recommends Tesla. The Motley Fool has adisclosure policy. \|\| This Electric Semi Is Trucking Right Past Tesla's: German auto and truck giant Daimler AG (NASDAQOTH: DDAIF) said that two big-truck operators, Penske Truck Leasing and NFI Industries, have agreed to begin using two all-new electric Freightliner trucks in a pilot program -- starting later this year. This is significant. While it may be a while before consumers adopt electric vehicles in huge numbers, the trucking industry is very interested in the technology's potential to cut fuel costs while greatly reducing emissions. It's a market that Tesla (NASDAQ: TSLA) has been hoping to enter -- but as of right now, it looks like Freightliner is ahead of the Silicon Valley upstart's big-truck effort. The Freightliner eCascadia, a sleek silver tractor-trailer with blue lights in its grille. The Freightliner eCascadia is a battery-electric tractor-trailer with 250 miles of range. It will go into production in 2021. Image source: Daimler AG. What Daimler said: Its pilot program begins later in 2018 Daimler said that two companies that operate fleets of big trucks have signed up to participate in the pilot program for the two new electric trucks being developed by its Freightliner brand: Penske Truck Leasing is a corporate sibling of Penske Automotive Group (NYSE: PAG) that leases and maintains over 240,000 trucks around the world. NFI Industries is a full-service logistics company, a freight hauler that operates a fleet of over 4,000 tractors and 8,700 trailers. Daimler said that it will supply Penske and NFI with a test fleet of 30 prototype electric trucks before the end of the year. The two companies will evaluate the new Freightliners, working closely with Freightliner engineers to provide detailed feedback to help the company refine the trucks' designs. What are these electric Freightliners? Freightliner has two electric trucks in development now. The first, called the eCascadia, is a full-blown Class 8 ("tractor trailer") heavy truck. It has a 550 kilowatt-hour (kWh) battery, good enough for a range of about 250 miles with a fully loaded trailer. That battery pack has some fast-charging capability: It can be recharged to 80% capacity (or about 220 miles of range) in less than 90 minutes. Story continues The second electric Freightliner, the eM2 106, is what the industry calls a "last mile" truck -- intended for local-level distribution and deliveries. It has a 325-kWh battery pack, giving it a range of about 230 miles when loaded. That battery pack can be recharged to 80% (about 184 miles of range) in less than 60 minutes. The Freightliner eM2 106, a battery-electric box truck with blue lights in its grille. Freightliner's eM2 106 is a battery-electric "last mile" truck for deliveries. Image source: Daimler AG. Daimler expects to begin mass-producing both trucks in 2021, incorporating the lessons learned in this pilot program with Penske and NFI. What about Tesla's Semi? As with just about everything involving Tesla, there has been a lot of attention and investor interest around its Semi. The Tesla Semi is a battery-electric Class 8 (tractor-trailer) truck that features the automaker's distinctive edgy styling. Tesla has said that the Semi will be offered with 300-mile and 500-mile battery packs when it comes to market... eventually. Tesla has received some small early orders (and deposits, of course) for the Semi from major truck operators looking to kick the new truck's tires. Again, like everything else having to do with Tesla, expectations for the Semi and estimates of its market potential are huge. A Tesla Semi, a blue tractor-trailer truck, on a rural road. Tesla has built a few prototypes of its Semi, a sleek battery-electric heavy truck. But it's not clear when (or where) it'll go into production. Image source: Tesla, Inc. But the reality is that, as of right now at least, Tesla doesn't appear to have made any effort to finish the Semi's development and begin production. It doesn't appear to have any factory space to build the truck, for starters: As of right now, Model 3s are being finished in a temporary building in the parking lot of Tesla's factory. And given its all-out effort to get production of its compact sedan up to speed, it seems unlikely that Tesla's engineers have had much bandwidth to work on the Semi since it was revealed last fall. The upshot: For once, Tesla seems to be behind Tesla has fostered big, big expectations for the Semi -- but it's not clear when (or whether) it'll be ready to deliver. Meanwhile, the current prototype version of the eCascadia might not quite match the Tesla Semi's range, but it's on schedule for a 2021 launch -- and it's coming from a company that truck-fleet operators know they can trust. For now, at least, I think we have to conclude that Tesla is in an unaccustomed position with its heavy truck: behind at least one legacy company. More From The Motley Fool 3 Growth Stocks at Deep-Value Prices 5 Expected Social Security Changes in 2018 6 Years Later, 6 Charts That Show How Far Apple, Inc. Has Come Since Steve Jobs' Passing 10 Best Stocks to Buy Today The $16,122 Social Security Bonus You Cannot Afford to Miss Bitcoin's Biggest Competitor Isn't Ethereum -- It's This John Rosevear has no position in any of the stocks mentioned. The Motley Fool owns shares of and recommends Tesla. The Motley Fool has a disclosure policy . \|\| Will the New Chevrolet Blazer Help Sustain General Motors' Profit Boom?: General Motors (NYSE: GM) revealed an all-new crossover SUV last week. The 2019 Chevrolet Blazer is a "two-row" (five-passenger) midsize SUV that will slot in between the huge-selling Chevrolet Equinox and the big Chevy Traverse when it begins arriving at U.S. dealers early next year. While a few GM fans grumbled about its name -- the original Chevy Blazers were brawny truck-based SUVs; this one isn't -- GM shareholders should welcome the new family friendly Blazer: It's the latest addition to what has been a very profitable line of products for GM. A silver 2019 Chevrolet Blazer, a midsize crossover SUV. An old Chevy nameplate for an all-new crossover: The 2019 Chevrolet Blazer will begin arriving at dealers early next year. Image source: General Motors. Big sales gains for GM's new crossovers -- so far "Crossover SUV" is the industry's term for an SUV built on a sedan-like unibody architecture. They've become wildly popular for good reasons: They offer most of the advantages of the traditional truck-based SUVs that were popular 15 years ago, but they're lighter in weight, they drive more like sedans than trucks, and they have much better fuel economy. To say that GM has been making hay on this trend is an understatement. There's a truism in the auto industry: Vehicles generate the best sales and margins when they're brand new. And when the new vehicle is in a hot-selling segment, sales (and profits) can be very significant. Nearly all of GM's crossovers are brand new or significantly refreshed since the beginning of 2016. Sales of the group were very strong in 2017, and they've continued to be strong so far this year. Vehicle U.S. sales YTD through May Change vs. 2017 Buick Enclave 17,943 11.8% Buick Encore 44,278 23.8% Buick Envision 14,255 (19)% Cadillac XT5 27,531 11.4% Chevrolet Equinox 141,477 35.7% Chevrolet Traverse 61,708 33.6% Chevrolet Trax 37,173 19.7% GMC Acadia 43,452 (9.7)% GMC Terrain 53,463 45.4% TOTAL 441,280 22.4% Data source: Automotive News estimates. Story continues With that said, here's the key thing that investors need to know about the all-new Blazer: It's an addition to the lineup, not a replacement for an outgoing model. I won't get into all the technical details of the new Blazer here, but the thing to know is that in terms of both size and price, it'll slot in between the Chevrolet Equinox and Traverse. You'll note that those are the two best-selling vehicles on that chart. The new Blazer will aim to push that total higher -- capturing buyers who might find the Equinox to be a bit small, but who don't need the seven-passenger capacity of the big Traverse. If there's a sweet spot to the crossover market, that might be it. A view of the front seat and dash of a 2019 Chevrolet Blazer, featuring dark leather and fabric with brushed-metal accents. The new Blazer's interior is consistent with other recent GM efforts: High-quality materials and a sensible layout. Image source: General Motors. GM is in expansion mode When the new Blazer arrives next year, it'll be the second addition to GM's crossover lineup since the revamp effort began. It'll follow the all-new Cadillac XT4 , which is set to launch in the second half of 2018. What's the XT4? Think of it this way: The lone crossover in the current Cadillac lineup, the XT5, is Blazer-sized; the XT4 is roughly Equinox-sized, one notch down from the XT5 in size and price. And yes, there's a Traverse-sized three-row Cadillac crossover in the works, too; it'll arrive after the Blazer next year. GM is investing in brand-new crossover models because the investments it made in the models that have already been launched are paying off nicely. Crossover sales have done a lot to keep GM's profits strong even as overall new-vehicle sales have begun to slide. A slide from GM's earnings presentation showing that improvements in product mix, pricing, and costs helped mitigate a drop in sales. The crossovers were responsible for much of that. This slide from GM's fourth-quarter 2017 earnings presentation shows how improved "pricing" driven by the new crossover SUVs helped keep GM's 2017 pre-tax profit strong despite a slide in overall sales. Image source: General Motors. A slide from GM's first-quarter 2018 earnings presentation, showing that pricing gains driven mostly by the crossovers helped soften a year-over-year drop in profit. A similar story played out in the first quarter of 2018. Image source: General Motors. The takeaway: These crossovers are at the center of GM's profit strategy Simply put, GM is banking on its crossovers to help keep its profits strong as the U.S. new-car market retreats from its cyclical peak -- and as it goes through the considerable disruption of launching all-new versions of its full-size pickups later this year. The Blazer won't arrive until early 2019, but assuming that the U.S. economy is still healthy when it launches, it's likely to be a big seller -- helping to keep GM's profit momentum going. More From The Motley Fool 3 Growth Stocks at Deep-Value Prices 5 Expected Social Security Changes in 2018 6 Years Later, 6 Charts That Show How Far Apple, Inc. Has Come Since Steve Jobs' Passing 10 Best Stocks to Buy Today The $16,122 Social Security Bonus You Cannot Afford to Miss Bitcoin's Biggest Competitor Isn't Ethereum -- It's This John Rosevear owns shares of General Motors. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy . \|\| Will the New Chevrolet Blazer Help Sustain General Motors' Profit Boom?: General Motors(NYSE: GM)revealed an all-new crossover SUV last week. The 2019 Chevrolet Blazer is a "two-row" (five-passenger) midsize SUV that will slot in between the huge-selling Chevrolet Equinox and the big Chevy Traverse when it begins arriving at U.S. dealers early next year. While a few GM fans grumbled about its name -- the original Chevy Blazers were brawny truck-based SUVs; this one isn't -- GM shareholders should welcome the new family friendly Blazer: It's the latest addition to what has been a very profitable line of products for GM. An old Chevy nameplate for an all-new crossover: The 2019 Chevrolet Blazer will begin arriving at dealers early next year. Image source: General Motors. "Crossover SUV" is the industry's term for an SUV built on a sedan-like unibody architecture. They've become wildly popular for good reasons: They offer most of the advantages of the traditional truck-based SUVs that were popular 15 years ago, but they're lighter in weight, they drive more like sedans than trucks, and they have much better fuel economy. To say that GM has been making hay on this trend is an understatement. There's a truism in the auto industry: Vehicles generate the best sales and margins when they're brand new. And when the new vehicle is in a hot-selling segment, sales (and profits) can be very significant. Nearly all of GM's crossovers are brand new or significantly refreshed since the beginning of 2016. Sales of the group were very strong in 2017, and they've continued to be strong so far this year. [{"Vehicle": "Buick Enclave", "U.S. sales YTD through May": "17,943", "Change vs. 2017": "11.8%"}, {"Vehicle": "Buick Encore", "U.S. sales YTD through May": "44,278", "Change vs. 2017": "23.8%"}, {"Vehicle": "Buick Envision", "U.S. sales YTD through May": "14,255", "Change vs. 2017": "(19)%"}, {"Vehicle": "Cadillac XT5", "U.S. sales YTD through May": "27,531", "Change vs. 2017": "11.4%"}, {"Vehicle": "Chevrolet Equinox", "U.S. sales YTD through May": "141,477", "Change vs. 2017": "35.7%"}, {"Vehicle": "Chevrolet Traverse", "U.S. sales YTD through May": "61,708", "Change vs. 2017": "33.6%"}, {"Vehicle": "Chevrolet Trax", "U.S. sales YTD through May": "37,173", "Change vs. 2017": "19.7%"}, {"Vehicle": "GMC Acadia", "U.S. sales YTD through May": "43,452", "Change vs. 2017": "(9.7)%"}, {"Vehicle": "GMC Terrain", "U.S. sales YTD through May": "53,463", "Change vs. 2017": "45.4%"}, {"Vehicle": "TOTAL", "U.S. sales YTD through May": "441,280", "Change vs. 2017": "22.4%"}] Data source: Automotive News estimates. With that said, here's the key thing that investors need to know about the all-new Blazer: It's an addition to the lineup, not a replacement for an outgoing model. I won't get into all the technical details of the new Blazer here, but the thing to know is that in terms of both size and price, it'll slot in between the Chevrolet Equinox and Traverse. You'll note that those are the two best-selling vehicles on that chart. The new Blazer will aim to push that total higher -- capturing buyers who might find the Equinox to be a bit small, but who don't need the seven-passenger capacity of the big Traverse. If there's a sweet spot to the crossover market, that might be it. The new Blazer's interior is consistent with other recent GM efforts: High-quality materials and a sensible layout. Image source: General Motors. When the new Blazer arrives next year, it'll be the second addition to GM's crossover lineup since the revamp effort began. It'll follow theall-new Cadillac XT4, which is set to launch in the second half of 2018. What's the XT4? Think of it this way: The lone crossover in the current Cadillac lineup, the XT5, is Blazer-sized; the XT4 is roughly Equinox-sized, one notch down from the XT5 in size and price. And yes, there's a Traverse-sized three-row Cadillac crossover in the works, too; it'll arrive after the Blazer next year. GM is investing in brand-new crossover models because the investments it made in the models that have already been launched are paying off nicely. Crossover sales havedone a lotto keepGM's profits strongeven as overall new-vehicle sales have begun to slide. This slide from GM's fourth-quarter 2017 earnings presentation shows how improved "pricing" driven by the new crossover SUVs helped keep GM's 2017 pre-tax profit strong despite a slide in overall sales. Image source: General Motors. A similar story played out in the first quarter of 2018. Image source: General Motors. Simply put, GM is banking on its crossovers to help keep its profits strong as the U.S. new-car market retreats from its cyclical peak -- and as it goes through the considerable disruption of launching all-new versions of its full-size pickups later this year. The Blazer won't arrive until early 2019, but assuming that the U.S. economy is still healthy when it launches, it's likely to be a big seller -- helping to keep GM's profit momentum going. More From The Motley Fool • 3 Growth Stocks at Deep-Value Prices • 5 Expected Social Security Changes in 2018 • 6 Years Later, 6 Charts That Show How Far Apple, Inc. Has Come Since Steve Jobs' Passing • 10 Best Stocks to Buy Today • The $16,122 Social Security Bonus You Cannot Afford to Miss • Bitcoin's Biggest Competitor Isn't Ethereum -- It's This John Rosevearowns shares of General Motors. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has adisclosure policy. \|\| Trade Scuffle Deals a Blow to Canada ETF: This article was originally published onETFTrends.com. The biggest Canada country-specific ETF is experiencing heavy outflows as President Donald Trump ramps up his trade rhetoric. TheiShares MSCI Canada ETF (NYSEArca:EWC), the largest U.S.-listed ETF tracking Canadian equities, experienced its biggest outflow in almost four months on Wednesday as investors yanked $48 million out of the ETF, with volume at almost 5.6 million shares, marking the largest daily volume since March and twice the average daily turnover in the past year, Bloomberg reports. EWC has declined 4.9% year-to-date. The distaste for Canadian equity exposure suggests American investors are growing more wary of how tariffs may affect Canada, one of the U.S.'s largest trading partners. Canada ETFs Experience Heightened Trading Daniel Straus, vice president of ETFs and financial products research at National Bank of Canada, argued that Canada-focused ETFs tend to experience heightened trading interest on the outlook of oil prices, but this trend has lessened in recent weeks. “What’s happening recently is there’s a new spate of headlines related to trade and trade wars and tariffs and I think that probably a lot of large institutional traders are trying to position their portfolios for what they see as significant headline risk,” Straus told Bloomberg. “For that reason, I think the flows might decouple from performance and from the oil markets in a way that breaks from the patterns we’ve observed in the past.” The U.S. has placed tariffs on steel and aluminum. Canada has responded with its own tariffs on C$16.6 billion worth of imports from the U.S. on July 1. The Invesco CurrencyShares Canadian Dollar Trust (FXC) has also reflected the depreciation in the Canadian dollar. FXC, which tracks the movements of the loonie against the U.S. dollar, has declined 5.8% year-to-date, with the CAD now trading at around USD $0.7536. Other Canada ETFs include the First Trust Canada AlphaDEX Fund (FCAN), Guggenheim Canadian Energy Income Fund (ENY) and the SPDR MSCI Canada Quality Mix ETF (NYSEArca:QCAN ) . For more information on international markets, visit our global ETFs category. POPULAR ARTICLES FROM ETFTRENDS.COM • Bitcoin Price Prediction: $5,350 in Bear Market • What is ESG Investing? • SEC Looks to Ease Rules Approving Low-Risk ETFs • Creating the 21st Century Portfolio • VanEck to Shutter Two ETFs: SPUN and IGEM READ MORE AT ETFTRENDS.COM > \|\| Trade Scuffle Deals a Blow to Canada ETF: This article was originally published on ETFTrends.com. The biggest Canada country-specific ETF is experiencing heavy outflows as President Donald Trump ramps up his trade rhetoric. The iShares MSCI Canada ETF (NYSEArca: EWC ) , the largest U.S.-listed ETF tracking Canadian equities, experienced its biggest outflow in almost four months on Wednesday as investors yanked $48 million out of the ETF, with volume at almost 5.6 million shares, marking the largest daily volume since March and twice the average daily turnover in the past year, Bloomberg reports. EWC has declined 4.9% year-to-date. The distaste for Canadian equity exposure suggests American investors are growing more wary of how tariffs may affect Canada, one of the U.S.'s largest trading partners. Canada ETFs Experience Heightened Trading Daniel Straus, vice president of ETFs and financial products research at National Bank of Canada, argued that Canada-focused ETFs tend to experience heightened trading interest on the outlook of oil prices, but this trend has lessened in recent weeks. Whats happening recently is theres a new spate of headlines related to trade and trade wars and tariffs and I think that probably a lot of large institutional traders are trying to position their portfolios for what they see as significant headline risk, Straus told Bloomberg. For that reason, I think the flows might decouple from performance and from the oil markets in a way that breaks from the patterns weve observed in the past. The U.S. has placed tariffs on steel and aluminum. Canada has responded with its own tariffs on C$16.6 billion worth of imports from the U.S. on July 1. The Invesco CurrencyShares Canadian Dollar Trust ( FXC ) has also reflected the depreciation in the Canadian dollar. FXC, which tracks the movements of the loonie against the U.S. dollar, has declined 5.8% year-to-date, with the CAD now trading at around USD $0.7536. Other Canada ETFs include the First Trust Canada AlphaDEX Fund ( FCAN ), Guggenheim Canadian Energy Income Fund ( ENY ) and the SPDR MSCI Canada Quality Mix ETF (NYSEArca: QCAN ) . Story continues For more information on international markets, visit our global ETFs category. POPULAR ARTICLES FROM ETFTRENDS.COM Bitcoin Price Prediction: $5,350 in Bear Market What is ESG Investing? SEC Looks to Ease Rules Approving Low-Risk ETFs Creating the 21st Century Portfolio VanEck to Shutter Two ETFs: SPUN and IGEM READ MORE AT ETFTRENDS.COM > \|\| Emerging Market ETFs Can’t Shake Off Trade Fears: This article was originally published on ETFTrends.com. Emerging market stocks, especially those tracking emerging Asia and related ETFs, were struggling to find their footing Thursday as uncertainty surrounding the U.S. trade policy fueled ongoing volatility. The EGShares India Small Cap ETF ( SCIN ) was among the worst performers Thursday, declining 2.1%. Additionally, the iShares MSCI Philippines ETF ( EPHE ) fell 1.0%, iShares MSCI Indonesia ETF ( EIDO ) dropped 1.4% and the VanEck Vectors V ietnam ETF ( VNM ) declined 1.1%. While U.S. equities struggled to push forward on Thursday, Asia emerging market equities continued to struggle. Traders remained unclear of the trade outlook as the White House appeared to step back from an all-out confrontation with China, the second biggest economy in the world, and adviser Larry Kudlow to later follow up saying that President Donald Trump was not softening his stance. Related: Warning Signs for Large Emerging Markets ETF “The volatility comes because we’ve seen some volatility in the trade talks and it just naturally moves over into the markets,” Chris Gaffney, president of TIAA Bank World Markets in St. Louis, said told Bloomberg. “Trade is one of the major things impacting emerging markets, it’s impacting all of the markets. But specifically on the emerging market rout, unfortunately there’s probably more to come.” Emerging Currencies Exhibit Weakness Furthermore, the ongoing weakness in emerging currencies also weighed on sentiment. While a weaker currency supports exports by making products more competitive in international markets, it also raises the price of imports, which is particularly harmful for countries that need to bring in money to pay off debts. Related: Best ETFs to Hedge Further Weakness in China For instance, India’s rupee touched an all-time low as higher energy costs and the emerging-market selloff dragged on the Asian market. Indonesia’s rupiah currency depreciated to its lowest level since October 2015 even as the central bank is expected to raise rates Friday. Story continues "While the speed of selling has slowed down compared to the early part of the week, emerging market currencies have continued to show weakness," Jameel Ahmad, global head of currency strategy at FXTM, told CNN . For more information on the developing economies, visit our emerging markets category . POPULAR ARTICLES FROM ETFTRENDS.COM Bitcoin Price Prediction: $5,350 in Bear Market What is ESG Investing? SEC Looks to Ease Rules Approving Low-Risk ETFs Creating the 21st Century Portfolio VanEck to Shutter Two ETFs: SPUN and IGEM READ MORE AT ETFTRENDS.COM > \|\| Emerging Market ETFs Can’t Shake Off Trade Fears: This article was originally published onETFTrends.com. Emerging market stocks, especially those tracking emerging Asia and related ETFs, were struggling to find their footing Thursday as uncertainty surrounding the U.S. trade policy fueled ongoing volatility. The EGShares India Small Cap ETF (SCIN) was among the worst performers Thursday, declining 2.1%. Additionally, the iShares MSCI Philippines ETF (EPHE) fell 1.0%, iShares MSCI Indonesia ETF (EIDO) dropped 1.4% and theVanEck Vectors Vietnam ETF (VNM) declined 1.1%. While U.S. equities struggled to push forward on Thursday, Asia emerging market equities continued to struggle. Traders remained unclear of the trade outlook as the White House appeared to step back from an all-out confrontation with China, the second biggest economy in the world, and adviser Larry Kudlow to later follow up saying that President Donald Trump was not softening his stance. Related:Warning Signs for Large Emerging Markets ETF “The volatility comes because we’ve seen some volatility in the trade talks and it just naturally moves over into the markets,” Chris Gaffney, president of TIAA Bank World Markets in St. Louis, said told Bloomberg. “Trade is one of the major things impacting emerging markets, it’s impacting all of the markets. But specifically on the emerging market rout, unfortunately there’s probably more to come.” Emerging Currencies Exhibit Weakness Furthermore, the ongoing weakness in emerging currencies also weighed on sentiment. While a weaker currency supports exports by making products more competitive in international markets, it also raises the price of imports, which is particularly harmful for countries that need to bring in money to pay off debts. Related:Best ETFs to Hedge Further Weakness in China For instance, India’s rupee touched an all-time low as higher energy costs and the emerging-market selloff dragged on the Asian market. Indonesia’s rupiah currency depreciated to its lowest level since October 2015 even as the central bank is expected to raise rates Friday. "While the speed of selling has slowed down compared to the early part of the week, emerging market currencies have continued to show weakness," Jameel Ahmad, global head of currency strategy at FXTM, toldCNN. For more information on the developing economies, visit ouremerging markets category. POPULAR ARTICLES FROM ETFTRENDS.COM • Bitcoin Price Prediction: $5,350 in Bear Market • What is ESG Investing? • SEC Looks to Ease Rules Approving Low-Risk ETFs • Creating the 21st Century Portfolio • VanEck to Shutter Two ETFs: SPUN and IGEM READ MORE AT ETFTRENDS.COM > \|\| Why Shares of Cavium Inc. Popped Today: Shares ofCaviumInc.(NASDAQ: CAVM)jumped on Thursday afterMarvell Technology Group's(NASDAQ: MRVL)acquisition of the company was approved by Chinese regulators. Marvell now expects the deal to close in July. Cavium stock ended the session up 9.8% while Marvell stock gained 8.2%. Cavium agreed to be acquired by Marvellin November of last year. The transaction was valued at roughly $6 billion, with Marvell paying $40 in cash and 2.1857 Marvell shares for each share of Cavium. That worked out to a purchase price of $80 per share at the time. Image source: Getty Images. With tense trade relations between the U.S. and China, the approval from China's State Administration for Market Regulation ends any concerns that this deal would be shut down by regulators. Marvell expects to realize between $150 million and $175 million in annual run-rate synergies within 18 months of closing, and the deal is expected to be accretive to revenue growth, margins, and non-GAAPEPS. The combined company will have annual revenue in the ballpark of $3.4 billion, with a presence in hard disk drive and solid-state drive controllers, networking solutions, wireless connectivity products, multicore processors, storage connectivity products, and security solutions. When the deal was announced, Marvell estimated that the acquisition would bring its total addressable market up to $16 billion. With the last big hurdle out of the way, this acquisition looks like a done deal. More From The Motley Fool • 3 Growth Stocks at Deep-Value Prices • 5 Expected Social Security Changes in 2018 • 6 Years Later, 6 Charts That Show How Far Apple, Inc. Has Come Since Steve Jobs' Passing • 10 Best Stocks to Buy Today • The $16,122 Social Security Bonus You Cannot Afford to Miss • Bitcoin's Biggest Competitor Isn't Ethereum -- It's This Timothy Greenhas no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has adisclosure policy. \|\| Why Shares of Cavium Inc. Popped Today: What happened Shares of Cavium Inc. (NASDAQ: CAVM) jumped on Thursday after Marvell Technology Group 's (NASDAQ: MRVL) acquisition of the company was approved by Chinese regulators. Marvell now expects the deal to close in July. Cavium stock ended the session up 9.8% while Marvell stock gained 8.2%. So what Cavium agreed to be acquired by Marvell in November of last year. The transaction was valued at roughly $6 billion, with Marvell paying $40 in cash and 2.1857 Marvell shares for each share of Cavium. That worked out to a purchase price of $80 per share at the time. A drawing of a big fish eating a little fish on a notepad page. Image source: Getty Images. With tense trade relations between the U.S. and China, the approval from China's State Administration for Market Regulation ends any concerns that this deal would be shut down by regulators. Marvell expects to realize between $150 million and $175 million in annual run-rate synergies within 18 months of closing, and the deal is expected to be accretive to revenue growth, margins, and non- GAAP EPS. Now what The combined company will have annual revenue in the ballpark of $3.4 billion, with a presence in hard disk drive and solid-state drive controllers, networking solutions, wireless connectivity products, multicore processors, storage connectivity products, and security solutions. When the deal was announced, Marvell estimated that the acquisition would bring its total addressable market up to $16 billion. With the last big hurdle out of the way, this acquisition looks like a done deal. More From The Motley Fool 3 Growth Stocks at Deep-Value Prices 5 Expected Social Security Changes in 2018 6 Years Later, 6 Charts That Show How Far Apple, Inc. Has Come Since Steve Jobs' Passing 10 Best Stocks to Buy Today The $16,122 Social Security Bonus You Cannot Afford to Miss Bitcoin's Biggest Competitor Isn't Ethereum -- It's This Timothy Green has no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy . \|\| Should You Invest in Qiwi, the “PayPal of Russia”?: Many American investors tend to avoid Russian stocks due to concerns about political risks, possible sanctions, and currency headwinds. Some high-growth Russian tech stocks were, however, tossed out with the bathwater in recent years. One such stock is Qiwi (NASDAQ: QIWI) , a mobile payments processor often called the "Russian PayPal (NASDAQ: PYPL) ." Qiwi lost nearly 40% of its market value over the past 12 months, even though its revenue is still growing at double-digit rates. Let's take a closer look at Qiwi and see if it's a hidden gem or a lump of coal. A woman sends a payment with her smartphone. Image source: Getty Images. What does Qiwi do? Qiwi is based in Cyprus, but it generates most of its revenue from Russia. It provides online payment services in Russia, Kazakhstan, Moldova, Belarus, Romania, the United Arab Emirates, and other overseas markets. Users can send payments via online and mobile channels, or through its network of over 150,000 kiosks and terminals. Qiwi Wallet, which provides customer-to-merchant and peer-to-peer transfers, is similar to PayPal's core app. Its total number of Wallet users rose 13% annually last quarter to 20.3 million. Like PayPal, Qiwi provides Visa -branded prepaid cards. It also offers pay-by-installment card systems through its SOVEST brand, along with other value-added services. Qiwi recently acquired two other banking brands, Tochka and Rocketbank, to expand its presence with small to medium-sized enterprises (SMEs). The acquisition of those brands, which were previously held by Russian banking giant Otkritie, formed the foundation for a new joint venture between Qiwi, Tochka, and Otkritie earlier this year. Otkritie nearly took a majority stake in Qiwi last year, but the deal was terminated after an insufficient number of shares were tendered. How fast is Qiwi growing? Qiwi's adjusted net revenue rose 41% annually to 4.1 billion rubles ($71.6 million) last quarter as its Payment Services segment revenue rose 26% to 3.7 billion rubles ($64.1 million). Its total Payment Services volume climbed 20% to 249.2 billion rubles ($4.4 billion). Qiwi attributes that growth to rising e-commerce and money remittance transactions. Story continues Qiwi's first quarter figures include its new revenues from Tochka and Rocketbank. The launch of those projects (especially Tochka and its tech service agreements with Otkritie) boosted Qiwi's revenues from SMEs to 420 million rubles ($7.3 million), compared to nothing in the prior year quarter. Qiwi Wallet. Qiwi Wallet. Image source: Google Play. For the full year, Qiwi expects its adjusted revenues to rise 15%-20%, compared to its prior forecast for 12%-16% growth. Its updated forecast includes revenues from Tochka and Rocketbank for the first half of the year, while its older forecast assumed no meaningful revenue from the two brands. This means that Qiwi's ADR shares currently trade at about 3.5 times the midpoint of its adjusted revenue estimate for 2018, but that valuation could fluctuate due to changing foreign exchange rates. By comparison, analysts expect PayPal's revenue to rise 18% this year, but the stock trades at almost seven times that estimate. How profitable is Qiwi? Qiwi's top line growth looks promising, but its bottom line growth is less encouraging. Its adjusted EBITDA slid 5% to 1.45 billion rubles ($25.3 million) last quarter, its adjusted net profit dropped 15% to 1.08 billion rubles ($18.9 million), and its net profit from its Payment Services segment tumbled 27% to 2.2 billion rubles ($38.6 million). Qiwi attributes those declines to higher expenses related to its SOVEST and Tochka projects, higher advertising and client acquisition expenses, and higher administrative and credit loss expenses. Higher tax rates and unfavorable foreign exchange headwinds also took a bite out of its net profits. For the full year, Qiwi expects its Payment Services net profit to rise 10%-15% as a few headwinds fade and it reaps the benefits of the Tochka and Rocketbank deals. However, it still expects its adjusted net profit to decline 0%-10%. Qiwi's ADR shares currently trade at roughly 15 times the midpoint of that estimate assuming share counts and foreign exchange rates remain constant. Investors should also note that many websites still report that Qiwi pays a 5% dividend yield -- but it suspended that dividend last year. Those numbers compare poorly to PayPal's estimated growth rate of 23% this year. PayPal's stock is certainly pricier at 36 times this year's earnings, but that premium is justified by its growth . The verdict: Stick with PayPal for now PayPal generates more stable returns than Qiwi, and it also has a presence in the Russian market. Qiwi's prospects might improve once it stabilizes its earnings growth and the ruble rebounds, but the potential rewards don't outweigh the risks yet. I'm keeping an eye on this stock, but I probably won't buy it anytime soon. More From The Motley Fool 3 Growth Stocks at Deep-Value Prices 5 Expected Social Security Changes in 2018 6 Years Later, 6 Charts That Show How Far Apple, Inc. Has Come Since Steve Jobs' Passing 10 Best Stocks to Buy Today The $16,122 Social Security Bonus You Cannot Afford to Miss Bitcoin's Biggest Competitor Isn't Ethereum -- It's This Leo Sun has no position in any of the stocks mentioned. The Motley Fool owns shares of and recommends PayPal Holdings. The Motley Fool owns shares of Visa. The Motley Fool has a disclosure policy . \|\| Should You Invest in Qiwi, the “PayPal of Russia”?: Many American investors tend to avoid Russian stocks due to concerns about political risks, possible sanctions, and currency headwinds. Some high-growth Russian tech stocks were, however, tossed out with the bathwater in recent years. One such stock isQiwi(NASDAQ: QIWI), a mobile payments processor often called the "RussianPayPal(NASDAQ: PYPL)." Qiwi lost nearly 40% of its market value over the past 12 months, even though its revenue is still growing at double-digit rates. Let's take a closer look at Qiwi and see if it's a hidden gem or a lump of coal. Image source: Getty Images. Qiwi is based in Cyprus, but it generates most of its revenue from Russia. It provides online payment services in Russia, Kazakhstan, Moldova, Belarus, Romania, the United Arab Emirates, and other overseas markets. Users can send payments via online and mobile channels, or through its network of over 150,000 kiosks and terminals. Qiwi Wallet, which provides customer-to-merchant and peer-to-peer transfers, is similar to PayPal's core app. Its total number of Wallet users rose 13% annually last quarter to 20.3 million. Like PayPal, Qiwi providesVisa-branded prepaid cards. It also offers pay-by-installment card systems through its SOVEST brand, along with other value-added services. Qiwi recently acquired two other banking brands, Tochka and Rocketbank, to expand its presence with small to medium-sized enterprises (SMEs). The acquisition of those brands, which were previously held by Russian banking giant Otkritie, formed the foundation for a new joint venture between Qiwi, Tochka, and Otkritie earlier this year. Otkritie nearly took a majority stake in Qiwi last year, but the dealwas terminatedafter an insufficient number of shares were tendered. Qiwi's adjusted net revenue rose 41% annually to 4.1 billion rubles ($71.6 million) last quarter as its Payment Services segment revenue rose 26% to 3.7 billion rubles ($64.1 million). Its total Payment Services volume climbed 20% to 249.2 billion rubles ($4.4 billion). Qiwi attributes that growth to rising e-commerce and money remittance transactions. Qiwi's first quarter figures include its new revenues from Tochka and Rocketbank. The launch of those projects (especially Tochka and its tech service agreements with Otkritie) boosted Qiwi's revenues from SMEs to 420 million rubles ($7.3 million), compared to nothing in the prior year quarter. Qiwi Wallet. Image source: Google Play. For the full year, Qiwi expects its adjusted revenues to rise 15%-20%, compared to its prior forecast for 12%-16% growth. Its updated forecast includes revenues from Tochka and Rocketbank for the first half of the year, while its older forecast assumed no meaningful revenue from the two brands. This means that Qiwi's ADR shares currently trade at about 3.5 times the midpoint of its adjusted revenue estimate for 2018, but that valuation could fluctuate due to changing foreign exchange rates. By comparison, analysts expect PayPal's revenue to rise 18% this year, but the stock trades at almost seven times that estimate. Qiwi's top line growth looks promising, but its bottom line growth is less encouraging. Its adjusted EBITDA slid 5% to 1.45 billion rubles ($25.3 million) last quarter, its adjusted net profit dropped 15% to 1.08 billion rubles ($18.9 million), and its net profit from its Payment Services segment tumbled 27% to 2.2 billion rubles ($38.6 million). Qiwi attributes those declines to higher expenses related to its SOVEST and Tochka projects, higher advertising and client acquisition expenses, and higher administrative and credit loss expenses. Higher tax rates and unfavorable foreign exchange headwinds also took a bite out of its net profits. For the full year, Qiwi expects its Payment Services net profit to rise 10%-15% as a few headwinds fade and it reaps the benefits of the Tochka and Rocketbank deals. However, it still expects its adjusted net profit to decline 0%-10%. Qiwi's ADR shares currently trade at roughly 15 times the midpoint of that estimate assuming share counts and foreign exchange rates remain constant. Investors should also note that many websites still report that Qiwi pays a 5% dividend yield -- but it suspended that dividend last year. Those numbers compare poorly to PayPal's estimated growth rate of 23% this year. PayPal's stock is certainly pricier at 36 times this year's earnings, but that premium is justifiedby its growth. PayPal generates more stable returns than Qiwi, and it also has a presence in the Russian market. Qiwi's prospects might improve once it stabilizes its earnings growth and the ruble rebounds, but the potential rewards don't outweigh the risks yet. I'm keeping an eye on this stock, but I probably won't buy it anytime soon. More From The Motley Fool • 3 Growth Stocks at Deep-Value Prices • 5 Expected Social Security Changes in 2018 • 6 Years Later, 6 Charts That Show How Far Apple, Inc. Has Come Since Steve Jobs' Passing • 10 Best Stocks to Buy Today • The $16,122 Social Security Bonus You Cannot Afford to Miss • Bitcoin's Biggest Competitor Isn't Ethereum -- It's This Leo Sunhas no position in any of the stocks mentioned. The Motley Fool owns shares of and recommends PayPal Holdings. The Motley Fool owns shares of Visa. The Motley Fool has adisclosure policy. \|\| Why Volkswagen, NVIDIA, and Aquantia Are Teaming Up on Self-Driving: Volkswagen AG 's (NASDAQOTH: VLKAY) U.S. unit is teaming up with four suppliers, including chip powerhouse NVIDIA (NASDAQ: NVDA) , to deal with a key technical challenge facing developers of self-driving cars: moving all the data around inside the car. A new "alliance" plans to create a key standard This new alliance, called the Networking for Autonomous Driving (NAV) Alliance, is being formed by five companies: Volkswagen Group of America, NVIDIA, Aquantia (NYSE: AQ) , a Silicon Valley company that specializes in high-speed Ethernet solutions, and two big Germany-based auto-industry suppliers, Robert Bosch GmbH and Continental AG (NASDAQOTH: CTTAY) . A graphic that shows the trademarks of the five companies in the NAV Alliance above a stylized picture of a sporty car. Image source: NAV Alliance. The NAV Alliance said in a statement that it plans to create a new set of standards for high-speed in-vehicle networks. The hope is that the new standards are adopted widely within the auto industry, allowing other companies to create in-car components that are ready to connect over these networks. The Alliance's statement said it expects other automakers and auto-industry suppliers to join in the coming months. As you'd expect, the details around the proposed standards themselves are highly technical. For investors, the key things to note are the companies involved -- and more broadly, the fact that the industrywide push to develop self-driving technology has reached the point where this sort of thing is needed. Who are these companies? Volkswagen is the German auto giant, of course. Specifically, it's VW's U.S. arm that signed on to this deal. Bosch and Continental are both big suppliers to VW (and many other automakers). Chip giant NVIDIA has staked out an early leadership position in the race to build hardware "brains" for self-driving vehicles. Its GPU (graphics processing unit) chips turn out to be especially well-suited for the complex calculations needed in artificial-intelligence applications (of which self-driving is one). NVIDIA has been offering its chips in a series of ready-to-go packages for self-driving test vehicles under the Drive PX name. Story continues The latest version of Drive PX, called Drive PX Pegasus , is effectively an on-board supercomputer packaged to meet auto-industry standards for safety and durability. It's expected to begin shipping in the second half of 2018. The Drive PX Pegasus, a rugged circuit board with several processors and plugs visible. NVIDIA's Drive PX Pegasus is an on-board supercomputer designed for self-driving vehicles. It incorporates Aquantia's high-speed Ethernet technology. Image source: NVIDIA. Last but certainly not least, Aquantia is the company that might be key to this new alliance. Aquantia is a Silicon Valley company that specializes in super-fast Ethernet connectivity solutions. It has developed a 10-gigabit-per-second automotive-grade networking solution that it is positioning as ideal for the huge in-car data-shuffling needs of Level 4 and Level 5 autonomous vehicles. Significantly, NVIDIA integrated Aquantia's high-speed automotive Ethernet into Drive PX Pegasus -- giving both companies an incentive to push it as the industry standard. What's next for the NAV Alliance It'll be interesting to see how NVIDIA's chief rival in this space, Intel (NASDAQ: INTC) , responds to this development. Intel, via its subsidiary Mobileye, has also staked out a substantial position in the self-driving race. Will it choose to join the NAV Alliance, making Aquantia the de facto in-car networking standard -- or will it push a competing solution? Of course, Intel's decision might depend on whether other major automakers with advanced self-driving programs, like General Motors (NYSE: GM) , choose to join the Alliance. We'll see how this plays out -- but either way, if you're eyeing investment opportunities in and around the race to deploy self-driving vehicles , I think it's worth putting Aquantia on your radar. More From The Motley Fool 3 Growth Stocks at Deep-Value Prices 5 Expected Social Security Changes in 2018 6 Years Later, 6 Charts That Show How Far Apple, Inc. Has Come Since Steve Jobs' Passing 10 Best Stocks to Buy Today The $16,122 Social Security Bonus You Cannot Afford to Miss Bitcoin's Biggest Competitor Isn't Ethereum -- It's This John Rosevear owns shares of General Motors. The Motley Fool owns shares of and recommends Nvidia. The Motley Fool has a disclosure policy . [Social Media Buzz] #DolarTrue BTC 29/06/2018 07:04 PM BTC Venta Panama : 5975.61 BTC USA : 6260.00 BTC Compra VEF : 19,698,496,870 USD/VEF : 3190203.75 \|\| La cotización #Bitcoin actual es: Compra: $152.905,1988 ARS Venta: $200.000,00 ARS \|\| Bitcoin - BTC Price: $5,928.59 Change in 1h: +0.72% Market cap: $101,509,466,195.00 Ranking: 1 #Bitcoin #BTC \|\| Угадай курс BTC/USD на 7.07.2018 00:00 - https://mmgp.ru/showthread.php?t=590571 …pic.twitter.com/2PIf9I97XO \|\| The current price of 1 $BTC on June 29, 2018 at 01:59A...	6404.00, 6385.82, 6614.18, 6529.59, 6597.55, 6639.14, 6673.50, 6856.93, 6773.88, 6741.75
Given the historical Bitcoin prices from the last 90 days, predict the next 10 daily closing prices. The historical prices are: 11086.40, 11489.70, 11512.60, 11573.30, 10779.90, 9965.57, 9395.01, 9337.55, 8866.00, 9578.63, 9205.12, 9194.85, 8269.81, 8300.86, 8338.35, 7916.88, 8223.68, 8630.65, 8913.47, 8929.28, 8728.47, 8879.62, 8668.12, 8495.78, 8209.40, 7833.04, 7954.48, 7165.70, 6890.52, 6973.53, 6844.23, 7083.80, 7456.11, 6853.84, 6811.47, 6636.32, 6911.09, 7023.52, 6770.73, 6834.76, 6968.32, 7889.25, 7895.96, 7986.24, 8329.11, 8058.67, 7902.09, 8163.42, 8294.31, 8845.83, 8895.58, 8802.46, 8930.88, 9697.50, 8845.74, 9281.51, 8987.05, 9348.48, 9419.08, 9240.55, 9119.01, 9235.92, 9743.86, 9700.76, 9858.15, 9654.80, 9373.01, 9234.82, 9325.18, 9043.94, 8441.49, 8504.89, 8723.94, 8716.79, 8510.38, 8368.83, 8094.32, 8250.97, 8247.18, 8513.25, 8418.99, 8041.78, 7557.82, 7587.34, 7480.14, 7355.88, 7368.22, 7135.99, 7472.59, 7406.52.	[Bitcoin Technical Analysis for 2018-05-30] Volume: 4922540032, RSI (14-day): 36.64, 50-day EMA: 8341.08, 200-day EMA: 8706.10 [Wider Market Context] Gold Price: 1301.50, Gold RSI: 45.86 Oil Price: 68.21, Oil RSI: 45.20 [Recent News (last 7 days)] Why Universal Display Corporation Stock Popped Today: Shares ofUniversal Display Corporation(NASDAQ: OLED)jumped as much as 17% early Tuesday before settling to close up 4% following reports thatApple(NASDAQ: AAPL)has chosen to adopt OLED displays across its entire iPhone line. More specifically,accordingto "industry sources" speaking to South Korea'sElectronic Times, Apple will expand its use of OLED displays from just a single model -- as it currently does with only its high-end iPhone X -- to all three of its newer iPhone models to be launched in 2019. IMAGE SOURCE: UNIVERSAL DISPLAY. The same sources noted that if Apple ultimately opts to launch more than three iPhone models in 2019, it may be forced to continue using LCD displays in at least one model because of manufacturing bottlenecks. But assuming Apple moves forward with its OLED-centric plans, it's likely it will continue sourcing OLED panels fromSamsungDisplay -- which currently serves as Apple's sole OLED display provider -- while enlistingLG Display(NYSE: LPL)as a secondary supplier. To be clear, Samsung Display and LG Display are Universal Display's two largest customers;bothcompanieshave long-term patent license and OLED material supply agreements with the OLED technologist. The move shouldn't be terribly surprising to longtime Universal Display investors. In fact, shortly after Apple incorporated OLED into its first-generation Apple watch in 2015, I evenwrote, "I think it's quite possible that, over time, Apple willcompletelytransition away from LCD and toward OLED." And when Universal Display announcedstrong first-quarter 2018 resultsearlier this month, CFO Sidney Rosenblatt insisted their story was still in its early stages, adding that "we continue to expect 2019 to be a meaningful year of growth." Still, it's equally unsurprising that Universal Display stock would pop on these fresh reports of Apple's dedication to its flagship technology. And I think Universal Display shareholders have every reason to celebrate. More From The Motley Fool • 3 Growth Stocks at Deep-Value Prices • 5 Expected Social Security Changes in 2018 • 6 Years Later, 6 Charts That Show How Far Apple, Inc. Has Come Since Steve Jobs' Passing • 10 Best Stocks to Buy Today • The $16,122 Social Security Bonus You Cannot Afford to Miss • Bitcoin's Biggest Competitor Isn't Ethereum -- It's This Steve Symingtonowns shares of Universal Display. The Motley Fool owns shares of and recommends Apple and Universal Display. The Motley Fool has the following options: long January 2020 $150 calls on Apple and short January 2020 $155 calls on Apple. The Motley Fool has adisclosure policy. \|\| Why Universal Display Corporation Stock Popped Today: Shares of Universal Display Corporation (NASDAQ: OLED) jumped as much as 17% early Tuesday before settling to close up 4% following reports that Apple (NASDAQ: AAPL) has chosen to adopt OLED displays across its entire iPhone line. More specifically, according to "industry sources" speaking to South Korea's Electronic Times , Apple will expand its use of OLED displays from just a single model -- as it currently does with only its high-end iPhone X -- to all three of its newer iPhone models to be launched in 2019. Three jars containing red, blue, and green phosphorescent OLED material with Universal Display logo IMAGE SOURCE: UNIVERSAL DISPLAY. So what The same sources noted that if Apple ultimately opts to launch more than three iPhone models in 2019, it may be forced to continue using LCD displays in at least one model because of manufacturing bottlenecks. But assuming Apple moves forward with its OLED-centric plans, it's likely it will continue sourcing OLED panels from Samsung Display -- which currently serves as Apple's sole OLED display provider -- while enlisting LG Display (NYSE: LPL) as a secondary supplier. To be clear, Samsung Display and LG Display are Universal Display's two largest customers; both companies have long-term patent license and OLED material supply agreements with the OLED technologist. Now what The move shouldn't be terribly surprising to longtime Universal Display investors. In fact, shortly after Apple incorporated OLED into its first-generation Apple watch in 2015, I even wrote , "I think it's quite possible that, over time, Apple will completely transition away from LCD and toward OLED." And when Universal Display announced strong first-quarter 2018 results earlier this month, CFO Sidney Rosenblatt insisted their story was still in its early stages, adding that "we continue to expect 2019 to be a meaningful year of growth." Still, it's equally unsurprising that Universal Display stock would pop on these fresh reports of Apple's dedication to its flagship technology. And I think Universal Display shareholders have every reason to celebrate. Story continues More From The Motley Fool 3 Growth Stocks at Deep-Value Prices 5 Expected Social Security Changes in 2018 6 Years Later, 6 Charts That Show How Far Apple, Inc. Has Come Since Steve Jobs' Passing 10 Best Stocks to Buy Today The $16,122 Social Security Bonus You Cannot Afford to Miss Bitcoin's Biggest Competitor Isn't Ethereum -- It's This Steve Symington owns shares of Universal Display. The Motley Fool owns shares of and recommends Apple and Universal Display. The Motley Fool has the following options: long January 2020 $150 calls on Apple and short January 2020 $155 calls on Apple. The Motley Fool has a disclosure policy . \|\| This Oil Stock Is Quietly Creating Hidden Value: Apache Corporation(NYSE: APA)stunned the oil and gas world in late 2016 by announcing the discovery of theAlpine Highplay in a long-overlooked spot of thePermian Basin. The company believed that it had uncovered more than 3 billion barrels of oil and even more natural gas, which would drive growth for years to come. However, that growth wouldn't materialize overnight because Apache first had to build out the infrastructure needed to develop the field from scratch. While this process has been slow, Apache has methodically created a large-scale midstream business that could be worth far more in the future than investors realize. That untapped upside makes Apache a compelling oil stock to consider these days. Image source: Getty Images. Over the past year, Apache has invested more than $700 million in building a fit-for-purpose midstream system in the Alpine High region. It's constructed five central processing facilities and over 150 miles of pipeline to move production from newly drilled wells to long-haul pipelines. There are plans to spend another $500 million on infrastructure this year and up to $1 billion through 2020 to complete the initial buildout of its midstream system in the region. This large up-front investment will enable Apache to quickly ramp up its production from the play in the coming years. The company is already off to a fast start. After achieving first sales last May, Apache ended 2017 producing 25,000 barrels of oil equivalent per day (BOE/D) from the play. If everything goes according to plan, its output will average 160,000 to 180,000 BOE/D in 2020, representing a more than 150% compound annual growth rate from 2017's starting average. In addition to building out infrastructure within its Alpine High acreage, Apache has been working with third-party midstream companies to secure pipeline takeaway capacity to move its production out of the region. However, the company has taken a unique approach. Instead of just signing long-term contracts for capacity on new pipelines, the company has also secured an option to buy a stake in these lines, which will bolster the value of its midstream business. One of those projects is theGulf Coast Express Pipeline, which would move natural gas from the Permian Basin to the Gulf Coast. The pipeline is under development by a joint venture led byKinder Morgan, which owns a 50% stake.Targa ResourcesandDCP Midstreameach holds a 25% interest in the project and have committed to shipping significant volumes on the pipeline. Another major shipper committed to the project is Apache, which also secured an option to buy a 15% stake in the project from Kinder Morgan. Apache also recently signed an agreement withEnterprise Products Partnersto commit 100% of the natural gas liquids (NGLs) produced out of Alpine High to the midstream giant. Apache will ship this output on the Shin Oak pipeline, which Enterprise is building in the region to move NGLs to its hub in Mont Belvieu, Texas. Aside from securing that takeaway capacity, Apache has the option to buy a 33% stake in Shin Oak after Enterprise finishes the project. These options to acquire stakes in those two pipeline projects could come in handy because one of Apache's priorities for 2018 is to find a joint venture partner for its Alpine High midstream business. The aim of that deal would be twofold: offload a portion of the $1 billion of future capital spending and monetize its previous investments. However, by also including the option agreements in a deal with the infrastructure it has developed, the whole package is much more valuable to a buyer because it's a fully integrated system. The market doesn't yet recognize this value considering that Apache's stock is down nearly 30% since it discovered Alpine High even though oil prices are up almost 60%. Because of that, Apache could have significant upside in the coming year as it unlocks the value it has created in building out its midstream business, let alone start ramping output from Alpine High. These factors make itquite the bargainfor value-conscious investors. More From The Motley Fool • 3 Growth Stocks at Deep-Value Prices • 5 Expected Social Security Changes in 2018 • 6 Years Later, 6 Charts That Show How Far Apple, Inc. Has Come Since Steve Jobs' Passing • 10 Best Stocks to Buy Today • The $16,122 Social Security Bonus You Cannot Afford to Miss • Bitcoin's Biggest Competitor Isn't Ethereum -- It's This Matthew DiLalloowns shares of Enterprise Products Partners and Kinder Morgan. The Motley Fool owns shares of and recommends Kinder Morgan. The Motley Fool has adisclosure policy. \|\| This Oil Stock Is Quietly Creating Hidden Value: Apache Corporation (NYSE: APA) stunned the oil and gas world in late 2016 by announcing the discovery of the Alpine High play in a long-overlooked spot of the Permian Basin . The company believed that it had uncovered more than 3 billion barrels of oil and even more natural gas, which would drive growth for years to come. However, that growth wouldn't materialize overnight because Apache first had to build out the infrastructure needed to develop the field from scratch. While this process has been slow, Apache has methodically created a large-scale midstream business that could be worth far more in the future than investors realize. That untapped upside makes Apache a compelling oil stock to consider these days. A pipeline under construction through a field. Image source: Getty Images. Building value one pipe at a time Over the past year, Apache has invested more than $700 million in building a fit-for-purpose midstream system in the Alpine High region. It's constructed five central processing facilities and over 150 miles of pipeline to move production from newly drilled wells to long-haul pipelines. There are plans to spend another $500 million on infrastructure this year and up to $1 billion through 2020 to complete the initial buildout of its midstream system in the region. This large up-front investment will enable Apache to quickly ramp up its production from the play in the coming years. The company is already off to a fast start. After achieving first sales last May, Apache ended 2017 producing 25,000 barrels of oil equivalent per day (BOE/D) from the play. If everything goes according to plan, its output will average 160,000 to 180,000 BOE/D in 2020, representing a more than 150% compound annual growth rate from 2017's starting average. Optional upside In addition to building out infrastructure within its Alpine High acreage, Apache has been working with third-party midstream companies to secure pipeline takeaway capacity to move its production out of the region. However, the company has taken a unique approach. Instead of just signing long-term contracts for capacity on new pipelines, the company has also secured an option to buy a stake in these lines, which will bolster the value of its midstream business. Story continues One of those projects is the Gulf Coast Express Pipeline , which would move natural gas from the Permian Basin to the Gulf Coast. The pipeline is under development by a joint venture led by Kinder Morgan , which owns a 50% stake. Targa Resources and DCP Midstream each holds a 25% interest in the project and have committed to shipping significant volumes on the pipeline. Another major shipper committed to the project is Apache, which also secured an option to buy a 15% stake in the project from Kinder Morgan. Apache also recently signed an agreement with Enterprise Products Partners to commit 100% of the natural gas liquids (NGLs) produced out of Alpine High to the midstream giant. Apache will ship this output on the Shin Oak pipeline, which Enterprise is building in the region to move NGLs to its hub in Mont Belvieu, Texas. Aside from securing that takeaway capacity, Apache has the option to buy a 33% stake in Shin Oak after Enterprise finishes the project. A catalyst on the horizon These options to acquire stakes in those two pipeline projects could come in handy because one of Apache's priorities for 2018 is to find a joint venture partner for its Alpine High midstream business. The aim of that deal would be twofold: offload a portion of the $1 billion of future capital spending and monetize its previous investments. However, by also including the option agreements in a deal with the infrastructure it has developed, the whole package is much more valuable to a buyer because it's a fully integrated system. The market doesn't yet recognize this value considering that Apache's stock is down nearly 30% since it discovered Alpine High even though oil prices are up almost 60%. Because of that, Apache could have significant upside in the coming year as it unlocks the value it has created in building out its midstream business, let alone start ramping output from Alpine High. These factors make it quite the bargain for value-conscious investors. More From The Motley Fool 3 Growth Stocks at Deep-Value Prices 5 Expected Social Security Changes in 2018 6 Years Later, 6 Charts That Show How Far Apple, Inc. Has Come Since Steve Jobs' Passing 10 Best Stocks to Buy Today The $16,122 Social Security Bonus You Cannot Afford to Miss Bitcoin's Biggest Competitor Isn't Ethereum -- It's This Matthew DiLallo owns shares of Enterprise Products Partners and Kinder Morgan. The Motley Fool owns shares of and recommends Kinder Morgan. The Motley Fool has a disclosure policy . \|\| Why Is No One Talking About NetEase Inc. Stock?: Chinese online media giantNetEase Inc.(NASDAQ: NTES)is hardly the talk of the town. Sporting a $30 billion market cap, NetEase works in a consumer-facing industry, and share prices have bounced between $222 and $378 over the last year. And these are the hallmarks of the market's most-discussed tickers. But other than around the time of the company's earnings reports, NetEase rarely receives much press coverage. As of this writing,the last news report about NetEaseon the Yahoo Finance feeds is five days old. Excluding The Motley Fool's efforts to keep investors informed, the newest article from other sources was published 12 days ago. So what's the deal with the radio silence? NetEase could rightly ask: Is anybody listening? Image source: Getty Images. First and foremost, NetEase is huge in China but doesn't do any business anywhere else. That makes it nearly invisible to American consumers, which leads to less interest in NetEase's headlines. In a news cycle where clicks and views often drive the editorial decisions, it just makes sense to give outsiders like NetEase less coverage. Furthermore, American investors are often intimidated by foreign stocks that report their results under different market rules and reporting standards. Converting Chinese yuan to U.S. dollars can be a hassle, and who knows what accounting practices NetEase might use? This goes for both readers and writers, by the way -- I can't write about companies I don't understand. I can't really rebut the fact that NetEase works in a very different market with nearly zero ties to North America. That's going to keep a lid on NetEase coverage until the company decides to explore international expansion. The company is looking at some international expansion opportunities, but it's not an easy play. NetEase hasn't saturated the Chinese markets yet, and Beijing's regulators can make it difficult to get any overseas operations going. On the other hand, NetEase's stock is only listed on the all-American Nasdaq exchange. There is no underlying stock on the Beijing exchange, so the financial reports must comply with Nasdaq's rules and the same SEC accounting rules as any American company. NetEase recently adopted the same Topic 606 revenue accounting rules that have resulted in large changes to many earnings reports over the last quarter and a half. Management also supplies most of its financial information in both Chinese and American currencies, allowing U.S. investors to skip the currency conversion step when analyzing NetEase's results. So it's actually not that hard to keep an American eye on NetEase and its financial progress. In a nutshell, it's a solidly profitable video gaming and online media player inthe world's largest consumer market. Earnings have seen annual growth of 24% over the last five years, while annual sales skyrocketed 46% higher. Right now, NetEase offers a modest price-to-earnings ratio of 19 times forward earnings as share prices have plunged 35% lower in the last six months. It might not be a slam-dunk buy today, but NetEase could sure use increased media interest at the very least. More From The Motley Fool • 3 Growth Stocks at Deep-Value Prices • 5 Expected Social Security Changes in 2018 • 6 Years Later, 6 Charts That Show How Far Apple, Inc. Has Come Since Steve Jobs' Passing • 10 Best Stocks to Buy Today • The $16,122 Social Security Bonus You Cannot Afford to Miss • Bitcoin's Biggest Competitor Isn't Ethereum -- It's This Anders Bylundhas no position in any of the stocks mentioned. The Motley Fool owns shares of and recommends NetEase. The Motley Fool has adisclosure policy. \|\| Why Is No One Talking About NetEase Inc. Stock?: Chinese online media giant NetEase Inc. (NASDAQ: NTES) is hardly the talk of the town. Sporting a $30 billion market cap, NetEase works in a consumer-facing industry, and share prices have bounced between $222 and $378 over the last year. And these are the hallmarks of the market's most-discussed tickers. But other than around the time of the company's earnings reports, NetEase rarely receives much press coverage. As of this writing, the last news report about NetEase on the Yahoo Finance feeds is five days old. Excluding The Motley Fool's efforts to keep investors informed, the newest article from other sources was published 12 days ago. So what's the deal with the radio silence? Man with a megaphone separated from a large crowd by a wide stretch of bare concrete. NetEase could rightly ask: Is anybody listening? Image source: Getty Images. Beijing is a long way away First and foremost, NetEase is huge in China but doesn't do any business anywhere else. That makes it nearly invisible to American consumers, which leads to less interest in NetEase's headlines. In a news cycle where clicks and views often drive the editorial decisions, it just makes sense to give outsiders like NetEase less coverage. Furthermore, American investors are often intimidated by foreign stocks that report their results under different market rules and reporting standards. Converting Chinese yuan to U.S. dollars can be a hassle, and who knows what accounting practices NetEase might use? This goes for both readers and writers, by the way -- I can't write about companies I don't understand. Reasons to pay closer attention to NetEase I can't really rebut the fact that NetEase works in a very different market with nearly zero ties to North America. That's going to keep a lid on NetEase coverage until the company decides to explore international expansion. The company is looking at some international expansion opportunities, but it's not an easy play. NetEase hasn't saturated the Chinese markets yet, and Beijing's regulators can make it difficult to get any overseas operations going. Story continues On the other hand, NetEase's stock is only listed on the all-American Nasdaq exchange. There is no underlying stock on the Beijing exchange, so the financial reports must comply with Nasdaq's rules and the same SEC accounting rules as any American company. NetEase recently adopted the same Topic 606 revenue accounting rules that have resulted in large changes to many earnings reports over the last quarter and a half. Management also supplies most of its financial information in both Chinese and American currencies, allowing U.S. investors to skip the currency conversion step when analyzing NetEase's results. So it's actually not that hard to keep an American eye on NetEase and its financial progress. In a nutshell, it's a solidly profitable video gaming and online media player in the world's largest consumer market . Earnings have seen annual growth of 24% over the last five years, while annual sales skyrocketed 46% higher. Right now, NetEase offers a modest price-to-earnings ratio of 19 times forward earnings as share prices have plunged 35% lower in the last six months. It might not be a slam-dunk buy today, but NetEase could sure use increased media interest at the very least. More From The Motley Fool 3 Growth Stocks at Deep-Value Prices 5 Expected Social Security Changes in 2018 6 Years Later, 6 Charts That Show How Far Apple, Inc. Has Come Since Steve Jobs' Passing 10 Best Stocks to Buy Today The $16,122 Social Security Bonus You Cannot Afford to Miss Bitcoin's Biggest Competitor Isn't Ethereum -- It's This Anders Bylund has no position in any of the stocks mentioned. The Motley Fool owns shares of and recommends NetEase. The Motley Fool has a disclosure policy . \|\| What Happened in the Stock Market Today: Stocks fell amid news of political instability in Italy, with bond prices tumbling and both theDow Jones Industrial Average(DJINDICES: ^DJI)and theS&P 500(SNPINDEX: ^GSPC)posting losses of more than a percentage point. [{"Index": "Dow", "Percentage Change": "(1.58%)", "Point Change": "(391.64)"}, {"Index": "S&P 500", "Percentage Change": "(1.16%)", "Point Change": "(31.47)"}] Data source: Yahoo! Finance. Financial stocks were hammered on falling interest rates, with theFinancial Select Sector SPDR ETF(NYSEMKT: XLF)dropping 3.3%. Emerging markets stocks also took a tumble; theVanguard FTSE Emerging Markets ETF(NYSEMKT: VWO)fell 2.2%. As for individual stocks,MOMO(NASDAQ: MOMO)reported big gains in revenue and profit, andKinder Morgan(NYSE: KMI)announced a deal to divest a Canadian pipeline. Image source: Getty Images. Shares of Chinese social media company Momo soared 15.2% afterthe company reportedaccelerated revenue growth that beat expectations. Revenue jumped 64% to $435 million, solidly ahead of previous guidance of 46% to 52% growth and the analyst expectation for 49%. Adjusted earnings per share rose 57% to $0.69, while Wall Street was expecting $0.50. Momo's growth was driven by strong gains in its live video service. Live video revenue increased 75% to $371.5 million. Paying users increased to 4.4 million from 4.1 million in the period a year ago, and average revenue per user for the service increased 46%. The company had 103.3 million monthly active users in March, a 21% increase from March 2017. "The content ecosystem continues to improve, driving robust organic growth momentum for live streaming business," said CEO Yan Tang. "Strong topline performance, coupled with the operating leverage of our business model creates ample room for us to make significant investment for our future while maintaining a healthy profit margin." Looking forward, Momo expects second-quarter revenue to grow 51% to 55% to a range of $470 million to $485 million, which includes $4.5 million of new revenue from itsrecent acquisitionof rival dating service Tantan. Investors liked the pace of growth, and pushed the stock near its all-time high. Pipeline giant Kinder Morgan announced it hadreached an agreementto sell the Trans Mountain Pipeline and the controversial expansion project associated with it to the government of Canada for 4.5 billion Canadian dollars ($3.5 billion). As part of the deal, the government agreed to finance the resumption of work on the expansion project until the transaction closes. Investors pushed shares of Kinder Morgan up almost 1% on the news. The expansion of the oil pipeline from Edmonton, Alberta, to a port near Vancouver, British Columbia, was opposed by environmental groups and Kinder Morgan Canada (KML) faced the potential of years of legal and political challenges. On April 8, KMLannouncedit was putting the project on hold, rather than risking billions of dollars on an outcome that was outside its control. The company set a deadline of May 31 to resolve the issue before shutting down the project completely. For its part, the Canadian government wanted the project for the sake of jobs and to open up new markets for oil from the Canadian oil sands. Kinder Morgan expects that despite losing the profits from the existing pipeline, it still expects to meet or exceed its goal for distributable cash flow in 2018, and will improve the balance sheet by $2 billion after taxes. The company expects to pay $0.80 per share in dividends this year, $1.00 in 2019, and $1.25 in 2020. "With respect to future growth, we are confident that KMI will continue to find investment opportunities across its unparalleled network of midstream assets," said CEO Steve Kean. With some major uncertainty off the table and a soon-to-be-strengthened balance sheet, Kinder Morgan arguably became abetter buytoday. More From The Motley Fool • 3 Growth Stocks at Deep-Value Prices • 5 Expected Social Security Changes in 2018 • 6 Years Later, 6 Charts That Show How Far Apple, Inc. Has Come Since Steve Jobs' Passing • 10 Best Stocks to Buy Today • The $16,122 Social Security Bonus You Cannot Afford to Miss • Bitcoin's Biggest Competitor Isn't Ethereum -- It's This Jim Crumlyowns shares of Kinder Morgan. The Motley Fool owns shares of and recommends Kinder Morgan. The Motley Fool recommends Momo. The Motley Fool has adisclosure policy. \|\| What Happened in the Stock Market Today: Stocks fell amid news of political instability in Italy, with bond prices tumbling and both the Dow Jones Industrial Average (DJINDICES: ^DJI) and the S&P 500 (SNPINDEX: ^GSPC) posting losses of more than a percentage point. Today's stock market Index Percentage Change Point Change Dow (1.58%) (391.64) S&P 500 (1.16%) (31.47) Data source: Yahoo! Finance. Financial stocks were hammered on falling interest rates, with the Financial Select Sector SPDR ETF (NYSEMKT: XLF) dropping 3.3%. Emerging markets stocks also took a tumble; the Vanguard FTSE Emerging Markets ETF (NYSEMKT: VWO) fell 2.2%. As for individual stocks, MOMO (NASDAQ: MOMO) reported big gains in revenue and profit, and Kinder Morgan (NYSE: KMI) announced a deal to divest a Canadian pipeline. Falling stock chart superimposed over digital map of the world Image source: Getty Images. More momentum for Momo Shares of Chinese social media company Momo soared 15.2% after the company reported accelerated revenue growth that beat expectations. Revenue jumped 64% to $435 million, solidly ahead of previous guidance of 46% to 52% growth and the analyst expectation for 49%. Adjusted earnings per share rose 57% to $0.69, while Wall Street was expecting $0.50. Momo's growth was driven by strong gains in its live video service. Live video revenue increased 75% to $371.5 million. Paying users increased to 4.4 million from 4.1 million in the period a year ago, and average revenue per user for the service increased 46%. The company had 103.3 million monthly active users in March, a 21% increase from March 2017. "The content ecosystem continues to improve, driving robust organic growth momentum for live streaming business," said CEO Yan Tang. "Strong topline performance, coupled with the operating leverage of our business model creates ample room for us to make significant investment for our future while maintaining a healthy profit margin." Looking forward, Momo expects second-quarter revenue to grow 51% to 55% to a range of $470 million to $485 million, which includes $4.5 million of new revenue from its recent acquisition of rival dating service Tantan. Investors liked the pace of growth, and pushed the stock near its all-time high. Story continues Kinder Morgan rids itself of a headache Pipeline giant Kinder Morgan announced it had reached an agreement to sell the Trans Mountain Pipeline and the controversial expansion project associated with it to the government of Canada for 4.5 billion Canadian dollars ($3.5 billion). As part of the deal, the government agreed to finance the resumption of work on the expansion project until the transaction closes. Investors pushed shares of Kinder Morgan up almost 1% on the news. The expansion of the oil pipeline from Edmonton, Alberta, to a port near Vancouver, British Columbia, was opposed by environmental groups and Kinder Morgan Canada (KML) faced the potential of years of legal and political challenges. On April 8, KML announced it was putting the project on hold, rather than risking billions of dollars on an outcome that was outside its control. The company set a deadline of May 31 to resolve the issue before shutting down the project completely. For its part, the Canadian government wanted the project for the sake of jobs and to open up new markets for oil from the Canadian oil sands. Kinder Morgan expects that despite losing the profits from the existing pipeline, it still expects to meet or exceed its goal for distributable cash flow in 2018, and will improve the balance sheet by $2 billion after taxes. The company expects to pay $0.80 per share in dividends this year, $1.00 in 2019, and $1.25 in 2020. "With respect to future growth, we are confident that KMI will continue to find investment opportunities across its unparalleled network of midstream assets," said CEO Steve Kean. With some major uncertainty off the table and a soon-to-be-strengthened balance sheet, Kinder Morgan arguably became a better buy today. More From The Motley Fool 3 Growth Stocks at Deep-Value Prices 5 Expected Social Security Changes in 2018 6 Years Later, 6 Charts That Show How Far Apple, Inc. Has Come Since Steve Jobs' Passing 10 Best Stocks to Buy Today The $16,122 Social Security Bonus You Cannot Afford to Miss Bitcoin's Biggest Competitor Isn't Ethereum -- It's This Jim Crumly owns shares of Kinder Morgan. The Motley Fool owns shares of and recommends Kinder Morgan. The Motley Fool recommends Momo. The Motley Fool has a disclosure policy . \|\| Euro ETFs Reel as Eurozone Crisis Mounts: This article was originally published on ETFTrends.com. The euro currency and related exchange traded funds retreated as a political upheaval in Italy fuels concerns that the third-largest Eurozone member could pull out from the currency bloc. The C urrencyShares Euro Currency Trust ( FXE ) fell 1.1% Tuesday with the euro currency now trading around $1.1542, its lowest level in six months. “There’s an existential threat hanging over the single currency if we head into more elections this summer, I don’t know how we get away from that now, given the scale of the financial implications,” Kit Juckes, chief foreign exchange strategist at Société Générale, told the Wall Street Journal . The sudden spike in uncertainty may be traced back to Italian President Sergio Mattarella’s decision to block the formation of a euroskeptic coalition government formed of the anti-establishment 5 Star Movement and the League parties, fueling concerns of a new elections, which could strengthen anti-euro zone forces. Eurozone's Existential Crisis “The market response of pushing the euro lower appears justified, as this story is shaping up to be one more existential threat for the eurozone. In the event of early elections, euroskeptic and populist parties could gain an even bigger share of the voting pie, increasing the risk that policies like calling a referendum on the euro start being discussed again in eurozone’s third-largest economy,” said Andreas Georgiou, investment analyst at XM.com, according to MarketWatch . “As for the euro, while its longer-term outlook remains relatively bright, the currency’s near-term prospects continue to be clouded by a combination of political uncertainties, a European economy losing momentum, and an ECB that appears increasingly more cautious to normalize,” Georgiou added. Alternatively, ETF traders could also capitalize on further euro currency woes through inverse or bearish euro-related ETFs. For instance, the ProShares Short Euro ( EUFX ) is designed to provide 100% of the inverse, or opposite, return of the U.S. dollar price of the euro, on a daily basis and the ProShares UltraShort Euro ( EUO ) provides 200% of the inverse return of the U.S. dollar price of the euro on a daily basis. The Market Vectors Double Short Euro ETN ( DRR ) tracks the Double Short Euro Index, which also provides a -200% exposure to the euro. The VelocityShares Daily 4X Long USD vs. EUR ( DEUR ) takes 4x or 400% exposure to the moves of the U.S. dollar against the euro currency. Consequently, these types of inverse ETFs may be used to capitalize on a stronger USD or weakening EUR. Story continues For more information on the foreign exchange markets, visit our currency ETFs category . POPULAR ARTICLES FROM ETFTRENDS.COM An Ominous Sign for Platinum ETFs Bearish Traders Get After This Energy ETF Bitcoin Still in a Vulnerable Spot? Almost Half of U.S. Cannot Cover a $400 Unexpected Expense Why You Should Consider Consumer Staples ETFs READ MORE AT ETFTRENDS.COM > \|\| Euro ETFs Reel as Eurozone Crisis Mounts: This article was originally published onETFTrends.com. The euro currency and related exchange traded funds retreated as a political upheaval in Italy fuels concerns that the third-largest Eurozone member could pull out from the currency bloc. TheCurrencyShares Euro Currency Trust (FXE) fell 1.1% Tuesday with the euro currency now trading around $1.1542, its lowest level in six months. “There’s an existential threat hanging over the single currency if we head into more elections this summer, I don’t know how we get away from that now, given the scale of the financial implications,” Kit Juckes, chief foreign exchange strategist at Société Générale, told theWall Street Journal. The sudden spike in uncertainty may be traced back to Italian President Sergio Mattarella’s decision to block the formation of a euroskeptic coalition government formed of the anti-establishment 5 Star Movement and the League parties, fueling concerns of a new elections, which could strengthen anti-euro zone forces. Eurozone's Existential Crisis “The market response of pushing the euro lower appears justified, as this story is shaping up to be one more existential threat for the eurozone. In the event of early elections, euroskeptic and populist parties could gain an even bigger share of the voting pie, increasing the risk that policies like calling a referendum on the euro start being discussed again in eurozone’s third-largest economy,” said Andreas Georgiou, investment analyst at XM.com, according toMarketWatch. “As for the euro, while its longer-term outlook remains relatively bright, the currency’s near-term prospects continue to be clouded by a combination of political uncertainties, a European economy losing momentum, and an ECB that appears increasingly more cautious to normalize,” Georgiou added. Alternatively, ETF traders could also capitalize on further euro currency woes through inverse or bearish euro-related ETFs. For instance, the ProShares Short Euro (EUFX) is designed to provide 100% of the inverse, or opposite, return of the U.S. dollar price of the euro, on a daily basis and the ProShares UltraShort Euro (EUO) provides 200% of the inverse return of the U.S. dollar price of the euro on a daily basis. The Market Vectors Double Short Euro ETN (DRR) tracks the Double Short Euro Index, which also provides a -200% exposure to the euro. The VelocityShares Daily 4X Long USD vs. EUR (DEUR) takes 4x or 400% exposure to the moves of the U.S. dollar against the euro currency. Consequently, these types of inverse ETFs may be used to capitalize on a stronger USD or weakening EUR. For more information on the foreign exchange markets, visit ourcurrency ETFs category. POPULAR ARTICLES FROM ETFTRENDS.COM • An Ominous Sign for Platinum ETFs • Bearish Traders Get After This Energy ETF • Bitcoin Still in a Vulnerable Spot? • Almost Half of U.S. Cannot Cover a $400 Unexpected Expense • Why You Should Consider Consumer Staples ETFs READ MORE AT ETFTRENDS.COM > \|\| Political Crisis Upends Italy ETFs: This article was originally published on ETFTrends.com. Italian markets and country-specific exchange traded funds plunged Tuesday as the prospect of new elections fueled speculation of the potential rise of an anti-euro zone faction. On Tuesday, the iShares MSCI Italy Capped ETF ( EWI ) declined 6.3%% and Franklin FTSE Italy ETF ( FLIY ) decreased 5.8%. Fueling the anxiety in the Italian markets, six-month Italian debt, which sold for a negative yield as recently as April, now drew a yield of 1.213% on lackluster demand from investors while two-year bonds, which came with a negative yield as recently as two weeks ago, traded at a 2.69% yield, the Wall Street Journal reports. The sudden distaste for Italian assets intensified on worries that the Eurozone's third largest state could exit the bloc and may even trigger further breakdown in the euro currency union. Stay Away From Italy “Given recent developments, it seems unlikely we will have better visibility in the coming months, particularly if new elections are in the pipeline. As a consequence, we would expect international investors to stay on the sidelines at least until the political turmoil cools,” SocGen strategists said, reiterating their underweight stance on Italian stocks, according to MarketWatch . All of the speculation may be traced back to Italian President Sergio Mattarella's decision to block the formation of a euroskeptic coalition government formed of the antiestablishment 5 Star Movement and the League parties, fueling concerns of a new elections, which could strengthen anti-euro zone forces. “It’s not clear what the ECB can do. It’s not really a liquidity issue, it’s not a confidence issue in the same way as 2012 was,” Kit Juckes, chief foreign exchange strategist at Société Générale, told the WSJ. “This is about a country where the parties rising fastest in the polls might just not be keen on being in the euro.” For more information on global markets, visit our global ETFs category . Story continues POPULAR ARTICLES FROM ETFTRENDS.COM Bitcoin Still in a Vulnerable Spot? Almost Half of U.S. Cannot Cover a $400 Unexpected Expense Why You Should Consider Consumer Staples ETFs This Country Doesn’t Consider Crypto to be Real Money A Powerful Catalyst Grows the Marijuana ETF READ MORE AT ETFTRENDS.COM > \|\| Political Crisis Upends Italy ETFs: This article was originally published onETFTrends.com. Italian markets and country-specific exchange traded funds plunged Tuesday as the prospect of new elections fueled speculation of the potential rise of an anti-euro zone faction. On Tuesday, the iShares MSCI Italy Capped ETF (EWI) declined 6.3%% and Franklin FTSE Italy ETF (FLIY) decreased 5.8%. Fueling the anxiety in the Italian markets, six-month Italian debt, which sold for a negative yield as recently as April, now drew a yield of 1.213% on lackluster demand from investors while two-year bonds, which came with a negative yield as recently as two weeks ago, traded at a 2.69% yield, theWall Street Journalreports. The sudden distaste for Italian assets intensified on worries that the Eurozone's third largest state could exit the bloc and may even trigger further breakdown in the euro currency union. Stay Away From Italy “Given recent developments, it seems unlikely we will have better visibility in the coming months, particularly if new elections are in the pipeline. As a consequence, we would expect international investors to stay on the sidelines at least until the political turmoil cools,” SocGen strategists said, reiterating their underweight stance on Italian stocks, according toMarketWatch. All of the speculation may be traced back to Italian President Sergio Mattarella's decision to block the formation of a euroskeptic coalition government formed of the antiestablishment 5 Star Movement and the League parties, fueling concerns of a new elections, which could strengthen anti-euro zone forces. “It’s not clear what the ECB can do. It’s not really a liquidity issue, it’s not a confidence issue in the same way as 2012 was,” Kit Juckes, chief foreign exchange strategist at Société Générale, told the WSJ. “This is about a country where the parties rising fastest in the polls might just not be keen on being in the euro.” For more information on global markets, visit ourglobal ETFs category. POPULAR ARTICLES FROM ETFTRENDS.COM • Bitcoin Still in a Vulnerable Spot? • Almost Half of U.S. Cannot Cover a $400 Unexpected Expense • Why You Should Consider Consumer Staples ETFs • This Country Doesn’t Consider Crypto to be Real Money • A Powerful Catalyst Grows the Marijuana ETF READ MORE AT ETFTRENDS.COM > \|\| Better Buy: Tesla, Inc. (TSLA) vs. BMW (BMW): Tesla, Inc.(NASDAQ: TSLA)andBMW(NASDAQOTH: BAMXF)aren't terribly different as automakers when you think about it. They both serve the luxury market, demand high performance from their vehicles, and command a premium price for their products. What separates the two companies is where they are in their life cycle. BMW is a mature company and we know it can make cars and SUVs profitably. Tesla has ambitions to be a major automaker and is already the dominant electric vehicle (EV) manufacturer. But it hasn't yet proven the ability to profitably manufacture vehicles at a mass scale. It's that backdrop that frames how we should look at these stocks. Tesla Model S. Image source: Tesla. The first thing to look at between these two companies is the difference in the scale of their businesses. Tesla has generated $12.5 billion in revenue over the past year and BMW has generated $111.5 billion. TSLA Revenue (TTM)data byYCharts. On a unit level, BMW sold 2.1 million vehicles in 2017 and Tesla passed 100,000 vehicles sold for the first time. Tesla hopes to someday get its Gigafactory and Freemont factoryrunning at a 500,000-vehicle-per-year pace, but realistically 2 million vehicles in sales per year is probably a decade or more away. BMW has also proven that it can generate among the best margins in the auto industry, consistently posting gross margin of around 20% and an operating margin of around 10%. Tesla hopes to generate gross margin of up to 25%, and at times, it's done just that. But we don't know what margins will look like when Tesla reaches a production scale of 500,000 units per year (or more). TSLA Gross Profit Margin (TTM)data byYCharts. Until Tesla proves its ability to generate a 20%-plus gross margin with a mass production vehicle, I consider BMW's margins best in class and a goal Tesla someday may reach. While Tesla would love to someday have the scale and operational efficiency of BMW, it's BMW that's behind the curve compared to Tesla's position in the EV market. Thus far, BMW has dipped its toes into the EV market with the i3, i8, and some plug-in hybrids, but it will be a few years before EVs make up a meaningful percentage of sales. Being a step behind the competition isn't something BMW is used to, andmanagement knows it needs to invest heavilyto match, or beat, companies like Tesla in the EV market. To catch up, BMW is increasing research and development spending by $1 billion this year to $8.6 billion, partly to develop an all-electric X3 SUV and an i4 sedan. But they won't reach production until 2020, by which time Tesla's Model S, X, and 3 should be coming off the production line at a pace of at least 500,000 per year. BMW is trying to catch up to Tesla in EVs, but it's hard to change the strategy of an established company quickly. Tesla's disruption of the status quo is undeniable, and BMW will have to work hard to establish its own EVs in the market. But there's one thing that makes me think BMW is still the better stock today. What Tesla hasn't proven is the ability to sell mass-market cars at scale and make money at the same time, and that's what scares me most about the stock. Tesla's Model S and Model 3 have both gotten "not recommended" ratings fromConsumer Reportsbecause of reliability and safety concerns, respectively. There are reports of workers making some auto and battery parts by hand. Workers are concerned with safety at the Freemont plant, and then there are safety concerns about Tesla's autopilot system, which has been involved inmultiple accidentsnow. Making cars is hard, and Tesla hasn't proven the ability to produce large numbers of cars that meet industry standards yet. It's one thing to make the Model X or S and sell them for $75,000 or more to loyal customers. It's something entirely different to sell hundreds of thousands of affordable EVs (Model 3) to mass-market consumers, who have higher reliability standards than luxury buyers who are already committed to the Tesla brand. Until Tesla can prove that it can make hundreds of thousands of vehicles per year at the levels of quality that the industry demandsandat a high margin, my money will be on BMW. We know BMW has the ability to move aggressively into the EV market, but we don't know if Tesla has the chops to reach BMW'sscalein manufacturing, and that's the biggest difference between these two stocks. More From The Motley Fool • 3 Growth Stocks at Deep-Value Prices • 5 Expected Social Security Changes in 2018 • 6 Years Later, 6 Charts That Show How Far Apple, Inc. Has Come Since Steve Jobs' Passing • 10 Best Stocks to Buy Today • The $16,122 Social Security Bonus You Cannot Afford to Miss • Bitcoin's Biggest Competitor Isn't Ethereum -- It's This Travis Hoiumhas no position in any of the stocks mentioned. The Motley Fool owns shares of and recommends Tesla. The Motley Fool recommends BMW. The Motley Fool has adisclosure policy. \|\| Better Buy: Tesla, Inc. (TSLA) vs. BMW (BMW): Tesla, Inc. (NASDAQ: TSLA) and BMW (NASDAQOTH: BAMXF) aren't terribly different as automakers when you think about it. They both serve the luxury market, demand high performance from their vehicles, and command a premium price for their products. What separates the two companies is where they are in their life cycle. BMW is a mature company and we know it can make cars and SUVs profitably. Tesla has ambitions to be a major automaker and is already the dominant electric vehicle (EV) manufacturer. But it hasn't yet proven the ability to profitably manufacture vehicles at a mass scale. It's that backdrop that frames how we should look at these stocks. Tesla Model S in front of a house. Tesla Model S. Image source: Tesla. BMW is what Tesla wants to be The first thing to look at between these two companies is the difference in the scale of their businesses. Tesla has generated $12.5 billion in revenue over the past year and BMW has generated $111.5 billion. TSLA Revenue (TTM) Chart TSLA Revenue (TTM) data by YCharts . On a unit level, BMW sold 2.1 million vehicles in 2017 and Tesla passed 100,000 vehicles sold for the first time. Tesla hopes to someday get its Gigafactory and Freemont factory running at a 500,000-vehicle-per-year pace , but realistically 2 million vehicles in sales per year is probably a decade or more away. BMW has also proven that it can generate among the best margins in the auto industry, consistently posting gross margin of around 20% and an operating margin of around 10%. Tesla hopes to generate gross margin of up to 25%, and at times, it's done just that. But we don't know what margins will look like when Tesla reaches a production scale of 500,000 units per year (or more). TSLA Gross Profit Margin (TTM) Chart TSLA Gross Profit Margin (TTM) data by YCharts . Until Tesla proves its ability to generate a 20%-plus gross margin with a mass production vehicle, I consider BMW's margins best in class and a goal Tesla someday may reach. BMW is trying to follow in Tesla's footsteps While Tesla would love to someday have the scale and operational efficiency of BMW, it's BMW that's behind the curve compared to Tesla's position in the EV market. Thus far, BMW has dipped its toes into the EV market with the i3, i8, and some plug-in hybrids, but it will be a few years before EVs make up a meaningful percentage of sales. Story continues Being a step behind the competition isn't something BMW is used to, and management knows it needs to invest heavily to match, or beat, companies like Tesla in the EV market. To catch up, BMW is increasing research and development spending by $1 billion this year to $8.6 billion, partly to develop an all-electric X3 SUV and an i4 sedan. But they won't reach production until 2020, by which time Tesla's Model S, X, and 3 should be coming off the production line at a pace of at least 500,000 per year. BMW is trying to catch up to Tesla in EVs, but it's hard to change the strategy of an established company quickly. Tesla's disruption of the status quo is undeniable, and BMW will have to work hard to establish its own EVs in the market. But there's one thing that makes me think BMW is still the better stock today. Making cars is hard What Tesla hasn't proven is the ability to sell mass-market cars at scale and make money at the same time, and that's what scares me most about the stock. Tesla's Model S and Model 3 have both gotten "not recommended" ratings from Consumer Reports because of reliability and safety concerns, respectively. There are reports of workers making some auto and battery parts by hand. Workers are concerned with safety at the Freemont plant, and then there are safety concerns about Tesla's autopilot system, which has been involved in multiple accidents now. Making cars is hard, and Tesla hasn't proven the ability to produce large numbers of cars that meet industry standards yet. It's one thing to make the Model X or S and sell them for $75,000 or more to loyal customers. It's something entirely different to sell hundreds of thousands of affordable EVs (Model 3) to mass-market consumers, who have higher reliability standards than luxury buyers who are already committed to the Tesla brand. Until Tesla can prove that it can make hundreds of thousands of vehicles per year at the levels of quality that the industry demands and at a high margin, my money will be on BMW. We know BMW has the ability to move aggressively into the EV market, but we don't know if Tesla has the chops to reach BMW's scale in manufacturing, and that's the biggest difference between these two stocks. More From The Motley Fool 3 Growth Stocks at Deep-Value Prices 5 Expected Social Security Changes in 2018 6 Years Later, 6 Charts That Show How Far Apple, Inc. Has Come Since Steve Jobs' Passing 10 Best Stocks to Buy Today The $16,122 Social Security Bonus You Cannot Afford to Miss Bitcoin's Biggest Competitor Isn't Ethereum -- It's This Travis Hoium has no position in any of the stocks mentioned. The Motley Fool owns shares of and recommends Tesla. The Motley Fool recommends BMW. The Motley Fool has a disclosure policy . \|\| Qualcomm's NXP Deal Faces 3 New Questions: Qualcomm(NASDAQ: QCOM)announced its planned takeover ofNXP Semiconductors(NASDAQ: NXPI)in Oct. 2016, but the chipmaker has faced an uphill battle in getting the deal approved. NXP's investors balked at Qualcomm's initial bid, lawsuits from OEMs and regulators raised antitrust concerns, and the deal became a bargaining chip in trade talks between the U.S. and China. Qualcomm desperately needs to close the NXP deal, since it would pivot the company's business away from the mobile chipmaking and licensing markets. NXP, the top automotive chipmaker in the world, benefits from rising demand for connected and driverless cars. Image source: Getty Images. I previously predicted that Qualcomm wouldn't close the deal this year forthree reasons: China's MOFCOM (Ministry of Commerce) seemed to be stalling the deal, NXP investors weren't tendering enough shares, and the chipmaker faced a go-private buyout attempt by its former chairman and CEO Paul Jacobs. Let's check back in on the deal and discuss three new questions the deal faces. On May 26, theWall Street Journalreported that Chinese regulators could approve the NXP deal "in the next few days" -- presumably in response to the Trump Administration's decision to help Chinese telecom equipment makerZTE(NASDAQOTH: ZTCOY)remain in business after it was hit with aseven-year banfrom buying U.S. components. In April, the U.S. Commerce Department found ZTE guilty of violating trade sanctions with its shipments of devices with U.S. components to Iran and North Korea. The Chinese government protested the ban, since it would cripple its ability to launch its nationwide 5G network. Chinese regulators subsequently suspended their review of the NXP deal in a thinly veiled retaliation. But after the Trump Administration softened its stance on ZTE, multiple reports claimed that MOFCOM and China's SAMR (State Administration for Market Regulation) had restarted the review. Therefore, the outlook seems rosier for Qualcomm, but the deal clearly remains a bargaining chip in the trade talks between Washington and Beijing. Elliott Management, the activist fund that pressured Qualcomm toraise its bidfor NXP, reduced its overall stake in NXP from 7.1% on Feb. 16 to 4.95% on May 22. Now that Elliott's position has dropped below 5%, it's no longer obligated to publicly disclose its positions -- and can sell its entire stake without further notice. The decision seems strange, since NXP shares still trade at a decent discount to Qualcomm's takeover bid of $127.50 and Chinese regulators are resuming discussions. However, a closer look at Elliott's sales actually reveal that its total number of NXP shares actuallyrosefrom 16.4 million to 16.6 million during that period. The big decline in its "overall" stake actually came from sales of derivatives -- which indicates that it'sprobablyjust winding down its option trades ahead of a potential takeover. Qualcomm might win over the Chinese government and NXP's biggest shareholder, but it still faces an uphill battle with NXP's other investors. Under Dutch law, Qualcomm needs about 80% of NXP shares to be tendered for the deal to clear. Image source: Getty Images. Qualcomm recently revealed that a mere 4% of those shares had been tendered as of May 24, representing a big drop from 13.1% on May 10 and 12.7% on April 26. Qualcomm will likely need to raise its bid again to secure more shares. Qualcomm believes that buying NXP will be "significantly accretive" to its non-GAAP earnings, while expanding its addressable markets by about 40% in 2020. But the deal remains stuck in the mud, and I doubt that it will close by the end of this year. More From The Motley Fool • 3 Growth Stocks at Deep-Value Prices • 5 Expected Social Security Changes in 2018 • 6 Years Later, 6 Charts That Show How Far Apple, Inc. Has Come Since Steve Jobs' Passing • 10 Best Stocks to Buy Today • The $16,122 Social Security Bonus You Cannot Afford to Miss • Bitcoin's Biggest Competitor Isn't Ethereum -- It's This Leo Sunhas no position in any of the stocks mentioned. The Motley Fool owns shares of Qualcomm. The Motley Fool recommends NXP Semiconductors. The Motley Fool has adisclosure policy. \|\| Qualcomm's NXP Deal Faces 3 New Questions: Qualcomm (NASDAQ: QCOM) announced its planned takeover of NXP Semiconductors (NASDAQ: NXPI) in Oct. 2016, but the chipmaker has faced an uphill battle in getting the deal approved. NXP's investors balked at Qualcomm's initial bid, lawsuits from OEMs and regulators raised antitrust concerns, and the deal became a bargaining chip in trade talks between the U.S. and China. Qualcomm desperately needs to close the NXP deal, since it would pivot the company's business away from the mobile chipmaking and licensing markets. NXP, the top automotive chipmaker in the world, benefits from rising demand for connected and driverless cars. Three question marks on three pieces of colored paper. Image source: Getty Images. I previously predicted that Qualcomm wouldn't close the deal this year for three reasons : China's MOFCOM (Ministry of Commerce) seemed to be stalling the deal, NXP investors weren't tendering enough shares, and the chipmaker faced a go-private buyout attempt by its former chairman and CEO Paul Jacobs. Let's check back in on the deal and discuss three new questions the deal faces. Will China really approve the NXP deal? On May 26, the Wall Street Journal reported that Chinese regulators could approve the NXP deal "in the next few days" -- presumably in response to the Trump Administration's decision to help Chinese telecom equipment maker ZTE (NASDAQOTH: ZTCOY) remain in business after it was hit with a seven-year ban from buying U.S. components. In April, the U.S. Commerce Department found ZTE guilty of violating trade sanctions with its shipments of devices with U.S. components to Iran and North Korea. The Chinese government protested the ban, since it would cripple its ability to launch its nationwide 5G network. Chinese regulators subsequently suspended their review of the NXP deal in a thinly veiled retaliation. But after the Trump Administration softened its stance on ZTE, multiple reports claimed that MOFCOM and China's SAMR (State Administration for Market Regulation) had restarted the review. Therefore, the outlook seems rosier for Qualcomm, but the deal clearly remains a bargaining chip in the trade talks between Washington and Beijing. Story continues Why is Elliott Management reducing its stake? Elliott Management, the activist fund that pressured Qualcomm to raise its bid for NXP, reduced its overall stake in NXP from 7.1% on Feb. 16 to 4.95% on May 22. Now that Elliott's position has dropped below 5%, it's no longer obligated to publicly disclose its positions -- and can sell its entire stake without further notice. The decision seems strange, since NXP shares still trade at a decent discount to Qualcomm's takeover bid of $127.50 and Chinese regulators are resuming discussions. However, a closer look at Elliott's sales actually reveal that its total number of NXP shares actually rose from 16.4 million to 16.6 million during that period. The big decline in its "overall" stake actually came from sales of derivatives -- which indicates that it's probably just winding down its option trades ahead of a potential takeover. Why are NXP investors withdrawing their tendered shares? Qualcomm might win over the Chinese government and NXP's biggest shareholder, but it still faces an uphill battle with NXP's other investors. Under Dutch law, Qualcomm needs about 80% of NXP shares to be tendered for the deal to clear. A boy writes "buy" and "sell" on a blackboard. Image source: Getty Images. Qualcomm recently revealed that a mere 4% of those shares had been tendered as of May 24, representing a big drop from 13.1% on May 10 and 12.7% on April 26. Qualcomm will likely need to raise its bid again to secure more shares. The bottom line Qualcomm believes that buying NXP will be "significantly accretive" to its non-GAAP earnings, while expanding its addressable markets by about 40% in 2020. But the deal remains stuck in the mud, and I doubt that it will close by the end of this year. More From The Motley Fool 3 Growth Stocks at Deep-Value Prices 5 Expected Social Security Changes in 2018 6 Years Later, 6 Charts That Show How Far Apple, Inc. Has Come Since Steve Jobs' Passing 10 Best Stocks to Buy Today The $16,122 Social Security Bonus You Cannot Afford to Miss Bitcoin's Biggest Competitor Isn't Ethereum -- It's This Leo Sun has no position in any of the stocks mentioned. The Motley Fool owns shares of Qualcomm. The Motley Fool recommends NXP Semiconductors. The Motley Fool has a disclosure policy . \|\| Kinder Morgan Inc Hands Over Its Controversial Trans Mountain Expansion Project to Canada: With anend-of-the-month deadline looming,Kinder Morgan(NYSE: KMI)and the Government of Canada struck a deal to keep the controversial Trans Mountain Pipeline expansion project alive after the pipeline giant agreed to sell the existing line and the planned expansion to Canada for 4.5 billion Canadian dollars ($3.5 billion). The deal will enable Kinder Morgan to walk away from the controversial project while recouping some value for investors. Meanwhile, Canada gets more time to find a buyer for this crucial infrastructure project. Kinder Morgan, through its Canadian subsidiaryKinder Morgan Canada Limited(TSX: KML), has agreed to sell 100% of the existing Trans Mountain Pipeline, as well as the associated expansion, to the Canadian government for cash in a deal that should close later this year. In the interim, the Government of Canada has agreed to fund the resumption of planning and construction work on the project via a credit facility. Kinder Morgan will also work with the Government of Canada to find a third-party buyer through July 22 of this year. Image source: Getty Images. Given the timing of the deal's closing, Kinder Morgan doesn't expect it to impact its 2018 outlook. In fact, the company anticipates that it will meet or exceed its target for distributable cash flow per share this year even with the loss of the earnings from this system. Meanwhile, the company expects that its 70% share of the after-tax proceeds will be about $2 billion, which will give its balance sheet a much-needed shot in the arm. Further, the company said it still expects to pay dividends of $0.80 per share in 2018 -- up 60% from last year -- and increase the payout by 25% in both 2019 and 2020. Kinder Morgan had expected to invest $5.7 billion over the next few years to increase the capacity of Trans Mountain from 300,000 barrels per day to 890,000 barrels per day. However, it faced numerous delays that have already pushed back the anticipated in-service date by over a year. That also delayed the timing of the roughly $600 million in incremental annual earnings the company thought that it would receive from its share of the expanded pipeline. With the company no longer building this project, it leaves a big hole that Kinder Morgan now needs to fill. However, one thing CEO Steve Kean made clear in the press release announcing the pipeline's sale is that he's confident that the company can backfill this loss quickly. The CEO stated, "[W]ith respect to future growth, we are confident that KMI will continue to find investment opportunities across its unparalleled network of midstream assets." He noted that in the last year alone, the company has secured $2.1 billion of new projects and hasseveral others in development. If the company can keep up that pace and lock up about $2 billion of new projects per year, those expansions could generate more than $300 million of annual earnings, and that's assuming a slightly lower return than the projects it currently has under way. In other words, the company could quickly replace what it will lose by selling Trans Mountain. Kinder Morgan had hoped that it would be able to build the Trans Mountain expansion project so that it could benefit from the stable cash flows it would produce. However, with intense opposition, there was too great a risk that the company would get mired in legal battles that could tie up the capital it has invested in the project for years. Because of that, the outright sale of the entire system is a good outcome for investors -- it removes this risk while providing the company with some cash to bolster its balance sheet. And with plenty of other expansion opportunities in front of it, the company should be able to offset the loss of Trans Mountain in short order and grow shareholder value with less risk, making it an evenbetter buy right now. More From The Motley Fool • 3 Growth Stocks at Deep-Value Prices • 5 Expected Social Security Changes in 2018 • 6 Years Later, 6 Charts That Show How Far Apple, Inc. Has Come Since Steve Jobs' Passing • 10 Best Stocks to Buy Today • The $16,122 Social Security Bonus You Cannot Afford to Miss • Bitcoin's Biggest Competitor Isn't Ethereum -- It's This Matthew DiLalloowns shares of Kinder Morgan. The Motley Fool owns shares of and recommends Kinder Morgan. The Motley Fool has adisclosure policy. \|\| Kinder Morgan Inc Hands Over Its Controversial Trans Mountain Expansion Project to Canada: With an end-of-the-month deadline looming , Kinder Morgan (NYSE: KMI) and the Government of Canada struck a deal to keep the controversial Trans Mountain Pipeline expansion project alive after the pipeline giant agreed to sell the existing line and the planned expansion to Canada for 4.5 billion Canadian dollars ($3.5 billion). The deal will enable Kinder Morgan to walk away from the controversial project while recouping some value for investors. Meanwhile, Canada gets more time to find a buyer for this crucial infrastructure project. Details on the deal Kinder Morgan, through its Canadian subsidiary Kinder Morgan Canada Limited (TSX: KML) , has agreed to sell 100% of the existing Trans Mountain Pipeline, as well as the associated expansion, to the Canadian government for cash in a deal that should close later this year. In the interim, the Government of Canada has agreed to fund the resumption of planning and construction work on the project via a credit facility. Kinder Morgan will also work with the Government of Canada to find a third-party buyer through July 22 of this year. Oil Pipeline near snow covered mountain. Image source: Getty Images. Given the timing of the deal's closing, Kinder Morgan doesn't expect it to impact its 2018 outlook. In fact, the company anticipates that it will meet or exceed its target for distributable cash flow per share this year even with the loss of the earnings from this system. Meanwhile, the company expects that its 70% share of the after-tax proceeds will be about $2 billion, which will give its balance sheet a much-needed shot in the arm. Further, the company said it still expects to pay dividends of $0.80 per share in 2018 -- up 60% from last year -- and increase the payout by 25% in both 2019 and 2020. Where does Kinder Morgan grow from here? Kinder Morgan had expected to invest $5.7 billion over the next few years to increase the capacity of Trans Mountain from 300,000 barrels per day to 890,000 barrels per day. However, it faced numerous delays that have already pushed back the anticipated in-service date by over a year. That also delayed the timing of the roughly $600 million in incremental annual earnings the company thought that it would receive from its share of the expanded pipeline. With the company no longer building this project, it leaves a big hole that Kinder Morgan now needs to fill. Story continues However, one thing CEO Steve Kean made clear in the press release announcing the pipeline's sale is that he's confident that the company can backfill this loss quickly. The CEO stated, "[W]ith respect to future growth, we are confident that KMI will continue to find investment opportunities across its unparalleled network of midstream assets." He noted that in the last year alone, the company has secured $2.1 billion of new projects and has several others in development . If the company can keep up that pace and lock up about $2 billion of new projects per year, those expansions could generate more than $300 million of annual earnings, and that's assuming a slightly lower return than the projects it currently has under way. In other words, the company could quickly replace what it will lose by selling Trans Mountain. The best outcome from a tough situation Kinder Morgan had hoped that it would be able to build the Trans Mountain expansion project so that it could benefit from the stable cash flows it would produce. However, with intense opposition, there was too great a risk that the company would get mired in legal battles that could tie up the capital it has invested in the project for years. Because of that, the outright sale of the entire system is a good outcome for investors -- it removes this risk while providing the company with some cash to bolster its balance sheet. And with plenty of other expansion opportunities in front of it, the company should be able to offset the loss of Trans Mountain in short order and grow shareholder value with less risk, making it an even better buy right now . More From The Motley Fool 3 Growth Stocks at Deep-Value Prices 5 Expected Social Security Changes in 2018 6 Years Later, 6 Charts That Show How Far Apple, Inc. Has Come Since Steve Jobs' Passing 10 Best Stocks to Buy Today The $16,122 Social Security Bonus You Cannot Afford to Miss Bitcoin's Biggest Competitor Isn't Ethereum -- It's This Matthew DiLallo owns shares of Kinder Morgan. The Motley Fool owns shares of and recommends Kinder Morgan. The Motley Fool has a disclosure policy . \|\| These 3 Stocks Shot Up 50% in 2017 -- Are They Still Buys?: Most financial literature stresses the point that impressive past financial returns don't guarantee good results in the future. And while that's strictly true, market-thumping stock price growth often results from the type of fundamental improvements in a company's business that can drive many years of gains. With that in mind, we asked Motley Fool investors to scour the pool of recent high-flying stocks for investments that might keep rising. Read on to find out whyBoeing(NYSE: BA),Constellation Brands(NYSE: STZ), andGeron(NASDAQ: GERN)topped this list. Image source: Getty Images. Dan Caplinger(Boeing):You don't often see stocks in the Dow Jones Industrial Average make aggressive upward moves over short periods of time, but Boeing gained a lot of altitude in 2017. The aerospace giant saw its shares soar almost 90% last year, riding the wave of aircraft orders from an airline industry that's healthier than it's been in decades. With plenty of available cash flow, buyers are investing in new aircraft to modernize their fleets and increase efficiency, and Boeing's new models are among the most popular in the world. Boeing's strength has continued into 2018, with the stock higher by more than 20% so far this year as well. Fundamentally,Boeing is doing a lot of things right. Moves to emphasize its most popular lines of aircraft and to look at internal efficiency gains have had a big impact on margin for its key commercial business, and that's boosting profit substantially. In particular, the workhorse 737 series of planes has been more popular than ever, and new variants are getting a lot of attention from buyers. Add to that expected demand for wide-body models like the 757, 767, and 777, and Boeing seems to have its engines revved up for maximum growth. As long as airlines continue to thrive, Boeing and its shareholders should keep reaping the rewards. George Budwell(Geron Corporation):Geron Corporation has nearly doubled in value so far this year, but the best may be yet to come for this tiny drugmaker. If you're not familiar with this story, Geron is developing a first-in-class telomerase inhibitor called imetelstat with the biopharma giantJohnson & Johnsonfortwo blood cancersknown as myelofibrosis (MF) and myelodyspastic syndromes (MDS). J&J currently owns an exclusive global license to the drug and the company is expected to decide whether to keep this license by the end of the third quarter of this year. In short, Geron is staring down a critical binary event that could make or break its stock later this year. The good news, though, is that imetelstat seems to be bending the curve in terms of overall survival for its MF indication, and generating substantial improvements in patients with MDS as well. The downside is that J&J is keeping a tight lid on the results for both trials; so investors won't known anything concrete until the company unveils its Continuation Decision regarding the collaboration in Q3. Now, if J&J walks, Geron will have to make some tough choices. After a recent capital raise, for instance, the biotech seems to have enough cash to at least get imetelstat's planned late-stage trial in MDS under way, but the drug's MF indication would almost certainly be tabled in the event J&J cuts bait. But the silver lining here is that Geron no longer appears to be in imminent danger of folding if J&J does end the collaboration. So, with a viable path forward on the table in a worst-case scenario, and a monstrousshort-squeeze possibleif J&J decides to stay the course, Geron's stock appears to offer a rather enticing risk-to-reward ratio right now. That said, this penny biotech stock is arguably only suited for the most aggressive of investors due to the strong possibility that its shares will tank -- at least temporarily -- if J&J leaves the picture. Demitri Kalogeropoulos(Constellation Brands):The broader beer industry saw little growth last year, but Constellation Brands' impressivesales and profitability gainsleft peers likeAnheuser-Busch InBev,Molson Coors, and evenBoston Beerfar behind. In fact, its imported beers like Corona and Modelo were responsible for most of the industry's growth in 2017, and Constellation Brands amplified that success by boosting selling prices and lifting its operating margin to a new high. Image source: Getty Images. After five consecutive years of 20% or better earnings growth, Constellation Brands is on track for a significant slowdown this year. Management istargeting a 10% profit increasein 2018 as they spend aggressively on marketing support for core beer and wine products and for promoting the launch of Corona Premier, the first national expansion of that brand in over 25 years. Yet Constellation Brands still looks like a good buy today. Its beer business is expected to grow at a healthy 10% pace this year while the wine and spirits segment boosts sales and profitability. Looking further out, the company's massive capacity expansion project should soon start reducing costs, and investors can also look forward to increased direct cash returns in the coming years now that the capital spending has peaked. There's the potential that the company will profit from the sale of marijuana, too, as its legalizationbegins to open the doorto edible cannabis products starting in 2019. More From The Motley Fool • 3 Growth Stocks at Deep-Value Prices • 5 Expected Social Security Changes in 2018 • 6 Years Later, 6 Charts That Show How Far Apple, Inc. Has Come Since Steve Jobs' Passing • 10 Best Stocks to Buy Today • The $16,122 Social Security Bonus You Cannot Afford to Miss • Bitcoin's Biggest Competitor Isn't Ethereum -- It's This Dan Caplingerowns shares of Boeing.Demitrios Kalogeropoulosowns shares of Boston Beer.George Budwellowns shares of Geron. The Motley Fool owns shares of and recommends Anheuser-Busch InBev NV and Boston Beer. The Motley Fool owns shares of Johnson & Johnson and Molson Coors Brewing. The Motley Fool has adisclosure policy. \|\| These 3 Stocks Shot Up 50% in 2017 -- Are They Still Buys?: Most financial literature stresses the point that impressive past financial returns don't guarantee good results in the future. And while that's strictly true, market-thumping stock price growth often results from the type of fundamental improvements in a company's business that can drive many years of gains. With that in mind, we asked Motley Fool investors to scour the pool of recent high-flying stocks for investments that might keep rising. Read on to find out why Boeing (NYSE: BA) , Constellation Brands (NYSE: STZ) , and Geron (NASDAQ: GERN) topped this list. A space shuttle taking off. Image source: Getty Images. This stock keeps flying higher Dan Caplinger (Boeing): You don't often see stocks in the Dow Jones Industrial Average make aggressive upward moves over short periods of time, but Boeing gained a lot of altitude in 2017. The aerospace giant saw its shares soar almost 90% last year, riding the wave of aircraft orders from an airline industry that's healthier than it's been in decades. With plenty of available cash flow, buyers are investing in new aircraft to modernize their fleets and increase efficiency, and Boeing's new models are among the most popular in the world. Boeing's strength has continued into 2018, with the stock higher by more than 20% so far this year as well. Fundamentally, Boeing is doing a lot of things right . Moves to emphasize its most popular lines of aircraft and to look at internal efficiency gains have had a big impact on margin for its key commercial business, and that's boosting profit substantially. In particular, the workhorse 737 series of planes has been more popular than ever, and new variants are getting a lot of attention from buyers. Add to that expected demand for wide-body models like the 757, 767, and 777, and Boeing seems to have its engines revved up for maximum growth. As long as airlines continue to thrive, Boeing and its shareholders should keep reaping the rewards. Story continues An attractive risk-to-reward ratio George Budwell (Geron Corporation): Geron Corporation has nearly doubled in value so far this year, but the best may be yet to come for this tiny drugmaker. If you're not familiar with this story, Geron is developing a first-in-class telomerase inhibitor called imetelstat with the biopharma giant Johnson & Johnson for two blood cancers known as myelofibrosis (MF) and myelodyspastic syndromes (MDS). J&J currently owns an exclusive global license to the drug and the company is expected to decide whether to keep this license by the end of the third quarter of this year. In short, Geron is staring down a critical binary event that could make or break its stock later this year. The good news, though, is that imetelstat seems to be bending the curve in terms of overall survival for its MF indication, and generating substantial improvements in patients with MDS as well. The downside is that J&J is keeping a tight lid on the results for both trials; so investors won't known anything concrete until the company unveils its Continuation Decision regarding the collaboration in Q3. Now, if J&J walks, Geron will have to make some tough choices. After a recent capital raise, for instance, the biotech seems to have enough cash to at least get imetelstat's planned late-stage trial in MDS under way, but the drug's MF indication would almost certainly be tabled in the event J&J cuts bait. But the silver lining here is that Geron no longer appears to be in imminent danger of folding if J&J does end the collaboration. So, with a viable path forward on the table in a worst-case scenario, and a monstrous short-squeeze possible if J&J decides to stay the course, Geron's stock appears to offer a rather enticing risk-to-reward ratio right now. That said, this penny biotech stock is arguably only suited for the most aggressive of investors due to the strong possibility that its shares will tank -- at least temporarily -- if J&J leaves the picture. More gains ahead for this alcoholic beverage giant Demitri Kalogeropoulos (Constellation Brands): The broader beer industry saw little growth last year, but Constellation Brands' impressive sales and profitability gains left peers like Anheuser-Busch InBev , Molson Coors , and even Boston Beer far behind. In fact, its imported beers like Corona and Modelo were responsible for most of the industry's growth in 2017, and Constellation Brands amplified that success by boosting selling prices and lifting its operating margin to a new high. Friends drinking beer at a bar. Image source: Getty Images. After five consecutive years of 20% or better earnings growth, Constellation Brands is on track for a significant slowdown this year. Management is targeting a 10% profit increase in 2018 as they spend aggressively on marketing support for core beer and wine products and for promoting the launch of Corona Premier, the first national expansion of that brand in over 25 years. Yet Constellation Brands still looks like a good buy today. Its beer business is expected to grow at a healthy 10% pace this year while the wine and spirits segment boosts sales and profitability. Looking further out, the company's massive capacity expansion project should soon start reducing costs, and investors can also look forward to increased direct cash returns in the coming years now that the capital spending has peaked. There's the potential that the company will profit from the sale of marijuana, too, as its legalization begins to open the door to edible cannabis products starting in 2019. More From The Motley Fool 3 Growth Stocks at Deep-Value Prices 5 Expected Social Security Changes in 2018 6 Years Later, 6 Charts That Show How Far Apple, Inc. Has Come Since Steve Jobs' Passing 10 Best Stocks to Buy Today The $16,122 Social Security Bonus You Cannot Afford to Miss Bitcoin's Biggest Competitor Isn't Ethereum -- It's This Dan Caplinger owns shares of Boeing. Demitrios Kalogeropoulos owns shares of Boston Beer. George Budwell owns shares of Geron. The Motley Fool owns shares of and recommends Anheuser-Busch InBev NV and Boston Beer. The Motley Fool owns shares of Johnson & Johnson and Molson Coors Brewing. The Motley Fool has a disclosure policy . [Social Media Buzz] 合戦予告（仕手、 Big Pump）刻 :6月2日21:00 場所: coinexchange 対象通貨 ??? / BTC 参加者には第2回お米騒動の参加資格Okome coinをもれなく配布、銘柄発表は下記にて Okome coinはBTCに交換可能 https://discord.gg/BQhXVuG \|\| Cotización del Bitcoin Cash: 877 00.€ \| +0.22% \| Kraken \| 30/05/18 08:00 #BitcoinCash #Kraken #BCHEUR \|\| #Bitcoin #BTC 2.93% #Ethereum #ETH 6.57% #Ripple #XRP 5.25% #Stellar #XLM 4.52% #Bitcoin Cash #BCH 7.00% #EOS #EOS 6.86% #Litecoin #LTC 2.92% #Cardano #ADA 10.54% #Ontology #ONT 9.23% #Tron #TRX 1.55% #Dash 3.51% #NEO 3.74% #ZCash ...	7494.17, 7541.45, 7643.45, 7720.25, 7514.47, 7633.76, 7653.98, 7678.24, 7624.92, 7531.98
Given the historical Bitcoin prices from the last 90 days, predict the next 10 daily closing prices. The historical prices are: 10784.49, 10619.45, 10575.97, 10549.33, 10669.58, 10793.34, 10604.41, 10668.97, 10915.69, 11064.46, 11296.36, 11384.18, 11555.36, 11425.90, 11429.51, 11495.35, 11322.12, 11358.10, 11483.36, 11742.04, 11916.33, 12823.69, 12965.89, 12931.54, 13108.06, 13031.17, 13075.25, 13654.22, 13271.29, 13437.88, 13546.52, 13781.00, 13737.11, 13550.49, 13950.30, 14133.71, 15579.85, 15565.88, 14833.75, 15479.57, 15332.32, 15290.90, 15701.34, 16276.34, 16317.81, 16068.14, 15955.59, 16716.11, 17645.41, 17804.01, 17817.09, 18621.31, 18642.23, 18370.00, 18364.12, 19107.46, 18732.12, 17150.62, 17108.40, 17717.41, 18177.48, 19625.84, 18803.00, 19201.09, 19445.40, 18699.77, 19154.23, 19345.12, 19191.63, 18321.14, 18553.92, 18264.99, 18058.90, 18803.66, 19142.38, 19246.64, 19417.08, 21310.60, 22805.16, 23137.96, 23869.83, 23477.29, 22803.08, 23783.03, 23241.35, 23735.95, 24664.79, 26437.04, 26272.29, 27084.81.	[Bitcoin Technical Analysis for 2020-12-28] Volume: 49056742893, RSI (14-day): 78.69, 50-day EMA: 19981.53, 200-day EMA: 14382.61 [Wider Market Context] Gold Price: 1877.20, Gold RSI: 54.78 Oil Price: 47.62, Oil RSI: 60.13 [Recent News (last 7 days)] CNBC's Michael Farr Believes Tesla Stock Is 'Stupidly Expensive': CNBC contributor Michael FarrsaysTesla stock is “stupidly expensive.” What Happened:Farr says Tesla stock is “an example of disparity” and its future is unclear: “It may go higher and shareholders may be rewarded, or it may languish or fall.” Tesla was just added to the S&P 500 Index last Monday, and according to Farr, its price is still highly overvalued. “The current valuation makesTeslathe sixth-largest company in the S&P 500, and by any metric, shares of this company are expensive,” he writes. Farr also is an author, a CNN and Bloomberg commentator, and president of investment firm Farr, Miller, & Washington. Points To Bear In Mind:Farr does not exclude the possibility that Tesla will become a fabulous long-term investment, but he says it’s more likely to go down. If you consider buying Tesla, think about these two points, the analyst writes: “All else equal, when you buy stocks at high valuations, your expected future returns are going to fall.” And secondly, "all high-growth companies begin trading in anticipation of huge future growth." When asked at CNBC's Power Lunch if he's going to buy Tesla stock, he replied, “no, not on your life.” Price Action:Tesla stock fell 0.27% and traded at $660.00 in the after-hours markets on Thursday. Latest Ratings for TSLA [{"Dec 2020": "Dec 2020", "CFRA": "Jefferies", "Downgrades": "Downgrades", "Strong Buy": "Buy", "Hold": "Hold"}, {"Dec 2020": "Dec 2020", "CFRA": "New Street", "Downgrades": "Downgrades", "Strong Buy": "Buy", "Hold": "Neutral"}] View More Analyst Ratings for TSLAView the Latest Analyst Ratings See more from Benzinga • Click here for options trades from Benzinga • Elon Musk Hopeful Tesla Can Deliver 500,000 Vehicles By End Of Year, Encourages Employees To 'Make It Happen' • Elon Musk Calls Bitcoin 'BS' In Tawdry Tweet, Causes 20% Dogecoin Surge © 2020 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. \|\| Crypto Long & Short: The Christmas Poem Edition: In a departure from our usual Crypto Long & Short format, in honor of the holiday season I’ve written a poem that reviews the year and reflects some of the progress made in our industry. It’s not rigorous analysis, but I hope the change in rhythm lightens the festive period. Go ahead and laugh, but may I say in my defense that “good at rhymes” was not in my original job description. <clears throat> Related:Coinbase to Suspend XRP Trading Following SEC Suit Against Ripple ‘Twas the day after Christmas. Instead of some rest I decided to review how we had progressed. In January,headlines screamedmilitary tension. Related:Market Wrap: Bitcoin Hovers Around $27K While ETH/BTC Pair Goes Bullish Bitcoinas “safe haven”attracted attention. The ructions in March did much to dispel The“safe haven” mythas all prices fell. “Black Thursday” also highlighted the danger Oftoo much leverage. But things would get stranger. We all soon grew aware of the threat of a new Type of virus that spread. It was not “just the flu.” As April drew round, we saw a new correlation Between bitcoin and stocks, and a dip in inflation As spending dried up. But the biggest shock Was anegative oil pricefrom way too much stock And not enough storage. Uncertainty spread As markets digested the changes ahead. The official response to the looming crash In incomes and output was toprint more“cash.” The ballooning supply of fiat to spend Was in sharp contrast to a cap that won’t bend. And with perfect timing did the network remind Us that every four years the new issue declined. Thehalving in Mayduringour big event Highlighted supply rules we can’t circumvent. In Juneprices held.Volatility dropped. The spread of the virus could not be stopped. Nor could the rise of the prices of stocks That used tech to help people weather the shocks Of a new way of working and seeing their friends, In spite of the cuts in yields and dividends. The summer saw two new trends gather speed: Services to satisfy institutional need Forcustody,platformsandproductsgalore. Anddecentralized financehad surprises in store: Asurge inthe volume oftrading on some Ofthe platformsthat had names that would become Memes of their own.Sushi,pizzaandYAMs– While many delivered, it seems some werescams. With part of the U.S. fightingfireafterfire As August dragged on, stock markets climbed higher. In October, the bitcoin price started to rise And a looming election pushed stress to new highs. PayPal’s supportfor transacting in some Crypto assets meant mainstream adoption could come. Morewell-known investorscame out in defense Of a bitcoin stake held as a hedge – it made sense In the face of the risk of growing inflation And currency woes that could lead to stagnation. In December, bitcoin’s correlation to gold Has fallen almost to zero, as new narratives unfold And the bitcoin price enters a new paradigm. As I write this verse, it continues to climb Toward new all-time highs. Now, I do not know Where it goes from here, but theinflows do show Thatinstitutional interestseemshere to stay. With so much going on, there is more I could say, But this poem is already way too long, yet I can’t leave without urging us not to forget That the year has been hard for so many out there. And although there is hope, we should still be aware Of the need to be kind, and to take care Of our health, and our loved ones. For always somewhere There is someone whose day could be brightened with sharing A bit of compassion, affection and caring. With that, dear readers, I bid you good cheer! Happy holidays, and have a hopeful New Year. Crypto fund managerBitwisehasliquidated the XRP positionit held in its Bitwise 10 Crypto Index Fund, after the U.S. Securities and Exchange Commission announced that it wassuing the companyRipple, which maintains 55 billionXRPin escrow and releases 1 billion every month, for what it deems a years-long unregistered offering of securities.TAKEAWAY:It is not clear that the suit will prevail, as Rippleis claiming thatXRP falls outside of federal securities laws. Nevertheless, it is a big deal even for investors that have no interest in XRP, since the ripple effect (sorry) of the regulatory action willtouch exchangesthatlist the tokenas well asfunds that hold it, such as the Bitwise product. It will also further the conversation over what is and isn’t a security, clarity which will be welcomed by the industry as a whole. At time of writing, the XRP price is 40% lower than its price a week ago. Anthony Scaramucci’s hedge fundSkyBridge Capital, which manages approximately $9.2 billion worth of assets, filed a Form D with the U.S. Securities and Exchange Commission for what appears to be itsfirst bitcoin-only fund.SkyBridge has alreadyinvested $25 millionin this fund, which will open to new investors in early January. According to Scaramucci, MicroStrategy’s CEO Michael Saylor was the inspiration for the fund. Scaramucci also said that SkyBridge is running a full bitcoin node.TAKEAWAY:The Saylor connection is interesting in that it shows the contagion power of high-profile conviction. And you don’t often hear of institutional investors getting as deeply involved as to run a node. Here’s agood article by JP Koningon how we applaud the entrance of institutional investors into the market, but we tend to oversimplifywhythey’re investing. Mogo, a Canadian fintech listed on the Nasdaq and Toronto stock exchanges, has announced itwill make a corporate investmentof up to CA$1.5 million (US$1.16 million) in bitcoin, and will consider additional purchases over 2021.TAKEAWAY:I really hope we aren’t witnessing the beginning of a trend in which companies announce bitcoin interest so their share price will go up. I just fail to see the sense in announcing a massive buybeforeyou do it – isn’t part of a company’s obligation to its shareholders to ensure it gets the best price for its acquisitions? The original bitcoin-buying corporation,MicroStrategy,has invested all of the proceedsof its $650 million debt issuance into 29,646 more bitcoin, at an average unit price of $21,925. The business intelligence firm now has 70,470 BTC worth over $1.596 billion in its treasury reserve.TAKEAWAY:Nowthismakes sense, announcingafterthe buy has been completed. Many companies will no doubt have noticed the MicroStrategy share price performance since it dove headfirst into cryptocurrency – this could well encourage others to dive in, and not necessarily for ideological or even investment thesis reasons. • Crypto Long & Short: The Christmas Poem Edition • Crypto Long & Short: The Christmas Poem Edition \|\| Crypto Long & Short: The Christmas Poem Edition: In a departure from our usual Crypto Long & Short format, in honor of the holiday season I’ve written a poem that reviews the year and reflects some of the progress made in our industry. It’s not rigorous analysis, but I hope the change in rhythm lightens the festive period. Go ahead and laugh, but may I say in my defense that “good at rhymes” was not in my original job description. <clears throat> A cryptomas rhyme Related: Coinbase to Suspend XRP Trading Following SEC Suit Against Ripple ‘Twas the day after Christmas. Instead of some rest I decided to review how we had progressed. In January, headlines screamed military tension . Related: Market Wrap: Bitcoin Hovers Around $27K While ETH/BTC Pair Goes Bullish Bitcoin as “safe haven” attracted attention . The ructions in March did much to dispel The “safe haven” myth as all prices fell. “Black Thursday” also highlighted the danger Of too much leverage . But things would get stranger. We all soon grew aware of the threat of a new Type of virus that spread. It was not “just the flu.” As April drew round, we saw a new correlation Between bitcoin and stocks, and a dip in inflation As spending dried up. But the biggest shock Was a negative oil price from way too much stock And not enough storage. Uncertainty spread As markets digested the changes ahead. The official response to the looming crash In incomes and output was to print more “cash.” The ballooning supply of fiat to spend Was in sharp contrast to a cap that won’t bend. And with perfect timing did the network remind Us that every four years the new issue declined. The halving in May during our big event Highlighted supply rules we can’t circumvent. In June prices held . Volatility dropped. The spread of the virus could not be stopped. Nor could the rise of the prices of stocks That used tech to help people weather the shocks Of a new way of working and seeing their friends, Story continues In spite of the cuts in yields and dividends. The summer saw two new trends gather speed: Services to satisfy institutional need For custody , platforms and products galore. And decentralized finance had surprises in store: A surge in the volume of trading on some Of the platforms that had names that would become Memes of their own. Sushi , pizza and YAMs – While many delivered, it seems some were scams . With part of the U.S. fighting fire after fire As August dragged on, stock markets climbed higher. In October, the bitcoin price started to rise And a looming election pushed stress to new highs. PayPal’s support for transacting in some Crypto assets meant mainstream adoption could come. More well-known investors came out in defense Of a bitcoin stake held as a hedge – it made sense In the face of the risk of growing inflation And currency woes that could lead to stagnation. In December, bitcoin’s correlation to gold Has fallen almost to zero, as new narratives unfold And the bitcoin price enters a new paradigm. As I write this verse, it continues to climb Toward new all-time highs. Now, I do not know Where it goes from here, but the inflows do show That institutional interest seems here to stay . With so much going on, there is more I could say, But this poem is already way too long, yet I can’t leave without urging us not to forget That the year has been hard for so many out there. And although there is hope, we should still be aware Of the need to be kind, and to take care Of our health, and our loved ones. For always somewhere There is someone whose day could be brightened with sharing A bit of compassion, affection and caring. With that, dear readers, I bid you good cheer! Happy holidays, and have a hopeful New Year. Chain links Crypto fund manager Bitwise has liquidated the XRP position it held in its Bitwise 10 Crypto Index Fund, after the U.S. Securities and Exchange Commission announced that it was suing the company Ripple, which maintains 55 billion XRP in escrow and releases 1 billion every month, for what it deems a years-long unregistered offering of securities. TAKEAWAY: It is not clear that the suit will prevail, as Ripple is claiming that XRP falls outside of federal securities laws. Nevertheless, it is a big deal even for investors that have no interest in XRP, since the ripple effect (sorry) of the regulatory action will touch exchanges that list the token as well as funds that hold it , such as the Bitwise product. It will also further the conversation over what is and isn’t a security, clarity which will be welcomed by the industry as a whole. At time of writing, the XRP price is 40% lower than its price a week ago. Anthony Scaramucci’s hedge fund SkyBridge Capital , which manages approximately $9.2 billion worth of assets, filed a Form D with the U.S. Securities and Exchange Commission for what appears to be its first bitcoin-only fund. SkyBridge has already invested $25 million in this fund, which will open to new investors in early January. According to Scaramucci, MicroStrategy’s CEO Michael Saylor was the inspiration for the fund. Scaramucci also said that SkyBridge is running a full bitcoin node. TAKEAWAY: The Saylor connection is interesting in that it shows the contagion power of high-profile conviction. And you don’t often hear of institutional investors getting as deeply involved as to run a node. Here’s a good article by JP Koning on how we applaud the entrance of institutional investors into the market, but we tend to oversimplify why they’re investing. Mogo , a Canadian fintech listed on the Nasdaq and Toronto stock exchanges, has announced it will make a corporate investment of up to CA$1.5 million (US$1.16 million) in bitcoin, and will consider additional purchases over 2021. TAKEAWAY: I really hope we aren’t witnessing the beginning of a trend in which companies announce bitcoin interest so their share price will go up. I just fail to see the sense in announcing a massive buy before you do it – isn’t part of a company’s obligation to its shareholders to ensure it gets the best price for its acquisitions? The original bitcoin-buying corporation, MicroStrategy , has invested all of the proceeds of its $650 million debt issuance into 29,646 more bitcoin, at an average unit price of $21,925. The business intelligence firm now has 70,470 BTC worth over $1.596 billion in its treasury reserve. TAKEAWAY: Now this makes sense, announcing after the buy has been completed. Many companies will no doubt have noticed the MicroStrategy share price performance since it dove headfirst into cryptocurrency – this could well encourage others to dive in, and not necessarily for ideological or even investment thesis reasons. Related Stories Crypto Long & Short: The Christmas Poem Edition Crypto Long & Short: The Christmas Poem Edition \|\| Ethereum Jumps 12%, Reaches $710 For First Time Since 2018: The price of Ethereum, the leading alternative cryptocurrency, or altcoin, has gone up 12.72% in the past 24 hours and was trading at $710 this morning, EST, according toTradingViewdata. What Happened:Ethereum, or ETH, launched in 2013, has been the second leading cryptocurrency, in terms of market capitalization, afterBitcoinfor years now. Many crypto experts argue that the blockchain technology behind ETH is better than Bitcoin’s and makes a better case for its usage. The current Ethereum capitalization is $80 billion, while Bitcoin’s capitalization is $499.5 billion, as of publication time. This is the highest price Ethereum has reached since January 2018, when it hit an all-time high of $1,432. Why It Matters:The major digital currency, Bitcoin, has had its best month in history, crossing the $20,000 mark for the first time on Dec. 16 and growing to $26,000 in just two weeks. Itwas tradingat $26724at the time of this article's publication. Image by Peter Patel from Pixabay. See more from Benzinga • Click here for options trades from Benzinga • Bitcoin Crosses ,700, Aims At ,000 • Elon Musk Calls Bitcoin 'BS' In Tawdry Tweet, Causes 20% Dogecoin Surge © 2020 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. \|\| Ethereum Jumps 12%, Reaches $710 For First Time Since 2018: The price of Ethereum, the leading alternative cryptocurrency, or altcoin, has gone up 12.72% in the past 24 hours and was trading at $710 this morning, EST, according to TradingView data. What Happened: Ethereum, or ETH, launched in 2013, has been the second leading cryptocurrency, in terms of market capitalization, after Bitcoin for years now. Many crypto experts argue that the blockchain technology behind ETH is better than Bitcoins and makes a better case for its usage. The current Ethereum capitalization is $80 billion, while Bitcoins capitalization is $499.5 billion, as of publication time. This is the highest price Ethereum has reached since January 2018, when it hit an all-time high of $1,432. Why It Matters: The major digital currency, Bitcoin, has had its best month in history, crossing the $20,000 mark for the first time on Dec. 16 and growing to $26,000 in just two weeks. It was trading at $26724 at the time of this article's publication. Image by Peter Patel from Pixabay. See more from Benzinga Click here for options trades from Benzinga Bitcoin Crosses ,700, Aims At ,000 Elon Musk Calls Bitcoin 'BS' In Tawdry Tweet, Causes 20% Dogecoin Surge © 2020 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. View comments \|\| BlackRock Seeks VP Blockchain Lead to ‘Drive Demand’ for Firm’s Crypto Offerings: The world’s largest asset manager, BlackRock, is seeking to hire a vice president to help build and execute strategies and “drive demand” for the company’s crypto and crypto-related offerings. • BlackRock, which has $6.84 trillion assets under management, hasposted a job vacancyfor a New York-based VP of blockchain to help with the valuation of crypto assets. • According to the post, the applicant must have at least a year’s experience in the technological foundations of blockchain technology including cryptographic hash functions, distributed network consensus mechanisms, and public-private key cryptography. • Candidates should be able to “devise and articulate fundamental valuation methodologies for crypto-assets; evaluate game theory and decentralizing governance models associated with blockchain technology,” said the listing. • BlackRock CEO Larry Fink recently made somebullish commentsonbitcoin, stating it has “caught the attention” of many people and that the nascent cryptocurrency asset class can possibly “evolve” into a global market asset. Read more:BlackRock’s Fink Says Bitcoin Can Possibly ‘Evolve’ Into Global Asset • BlackRock Seeks VP Blockchain Lead to ‘Drive Demand’ for Firm’s Crypto Offerings • BlackRock Seeks VP Blockchain Lead to ‘Drive Demand’ for Firm’s Crypto Offerings • BlackRock Seeks VP Blockchain Lead to ‘Drive Demand’ for Firm’s Crypto Offerings • BlackRock Seeks VP Blockchain Lead to ‘Drive Demand’ for Firm’s Crypto Offerings \|\| BlackRock Seeks VP Blockchain Lead to ‘Drive Demand’ for Firm’s Crypto Offerings: The world’s largest asset manager, BlackRock, is seeking to hire a vice president to help build and execute strategies and “drive demand” for the company’s crypto and crypto-related offerings. BlackRock, which has $6.84 trillion assets under management, has posted a job vacancy for a New York-based VP of blockchain to help with the valuation of crypto assets. According to the post, the applicant must have at least a year’s experience in the technological foundations of blockchain technology including cryptographic hash functions, distributed network consensus mechanisms, and public-private key cryptography. Candidates should be able to “devise and articulate fundamental valuation methodologies for crypto-assets; evaluate game theory and decentralizing governance models associated with blockchain technology,” said the listing. BlackRock CEO Larry Fink recently made some bullish comments on bitcoin , stating it has “caught the attention” of many people and that the nascent cryptocurrency asset class can possibly “evolve” into a global market asset. Read more: BlackRock’s Fink Says Bitcoin Can Possibly ‘Evolve’ Into Global Asset Related Stories BlackRock Seeks VP Blockchain Lead to ‘Drive Demand’ for Firm’s Crypto Offerings BlackRock Seeks VP Blockchain Lead to ‘Drive Demand’ for Firm’s Crypto Offerings BlackRock Seeks VP Blockchain Lead to ‘Drive Demand’ for Firm’s Crypto Offerings BlackRock Seeks VP Blockchain Lead to ‘Drive Demand’ for Firm’s Crypto Offerings \|\| Ether Trades Above $700 for the First Time Since 2018: Ether prices soared on Sunday, trading above $700 for the first time since May 21, 2018. The native currency of the Ethereum network’s break above $700 marks an 11% gain in just 24 hours. • Etherwas as low as $624.76 in the 11:00 UTC (6:00 a.m. ET) hour, just five hours before trading at $700. • The second-highest cryptocurrency by market cap, the total value of ether was $80 billion as of press time. • Bitcoinhas also been rallying over the Christmas weekend, at one point piercing the $29,000 mark. It was trading in the $27,300 range when ether made its move higher than $700. • Volume was noticeably higher on the eight exchanges tracked by theCoinDesk 20. The combined value of ether changing hands on those exchanges was more than $2.3 billion. The average daily volume was $2.175 billion over the previous seven days. • Ether Trades Above $700 for the First Time Since 2018 • Ether Trades Above $700 for the First Time Since 2018 • Ether Trades Above $700 for the First Time Since 2018 • Ether Trades Above $700 for the First Time Since 2018 \|\| Ether Trades Above $700 for the First Time Since 2018: Ether prices soared on Sunday, trading above $700 for the first time since May 21, 2018. The native currency of the Ethereum networks break above $700 marks an 11% gain in just 24 hours. Ether was as low as $624.76 in the 11:00 UTC (6:00 a.m. ET) hour, just five hours before trading at $700. The second-highest cryptocurrency by market cap, the total value of ether was $80 billion as of press time. Bitcoin has also been rallying over the Christmas weekend, at one point piercing the $29,000 mark. It was trading in the $27,300 range when ether made its move higher than $700. Volume was noticeably higher on the eight exchanges tracked by the CoinDesk 20 . The combined value of ether changing hands on those exchanges was more than $2.3 billion. The average daily volume was $2.175 billion over the previous seven days. Related Stories Ether Trades Above $700 for the First Time Since 2018 Ether Trades Above $700 for the First Time Since 2018 Ether Trades Above $700 for the First Time Since 2018 Ether Trades Above $700 for the First Time Since 2018 \|\| Bitcoin Tops $28K for 1st Time, Hours After Crossing $27K; Market Cap Now Exceeds $500B: After tearing through $27,000 for the first time ever only a few hours before, the price of bitcoin briefly surged past $28,000 Sunday morning as the leading cryptocurrency’s recent meteoric rise continues. BTC’s market value now exceeds $500 billion. • Recently,BTChas been leaving a string of broken records in its wake afterpassingthe psychologically key $20,000 mark for the first time on Dec. 16. • In the last several days BTC seems to found yet another gear,breaking through $25,000Friday night for the first time andgoing through $26,000Saturday afternoon like a hot poker through one-ply tissue. • Roughly half a day later, BTC surged past $27,000 early Sunday morning, before racing past $28,000 just before dawn, before settling down to $27,604.67 at this writing, up 9.63% in the last 24 hours. • Year to date, BTC is up more than 275%. In the last 48 hours, it’s risen 14%. • With a market value of $512.34 billion, BTC is now more valuable than all but seven publicly traded companies, sitting between Alibaba at $545.4 billion and Tencent Holdings at $509.7 billion, according toStatista data. • Institutional investors are perceived to be driving this record-setting run. Among them: Anthony Scaramucci’s Skybridge Capital ($25 millionin December); MassMutual ($100 millionin December); and Guggenheim (up to 10%of its $5 billion macro fund). • With the end of the year looming, some fund managers may also be buying BTC so they canbragnext year about being smart enough to get in in 2020 while neglecting to say at which price they had done so. • In addition, the U.S. Federal Reserve, along with other central banks, has been printing money with abandon, trying to stave off the worst economic effects of the pandemic as U.S. President Donald Trump has been pushing Congress to pass an even bigger relief package to allow for larger stimulus checks. These actions are viewed by many as potential catalysts for inflation and bad for the U.S. dollar, both of which could be positive for BTC. • While the tremendous rise in BTC might make it easy to think we’re going to see $30,000 before the end of the year, it’s good to keep in mind this surge is taking place over a holiday weekend on thin volume. Monday could well bring a different narrative. • Still, there are those who think BTC is just getting started. Scaramucci has said he believes BTC is in the “early innings” and Saturday afternoon, crypto venture capitalist/bitcoin evangelist Tim Draper tweeted that the price of the leading cryptocurrency could rise ten-fold by the end of 2022. • Bitcoin Tops $28K for 1st Time, Hours After Crossing $27K; Market Cap Now Exceeds $500B • Bitcoin Tops $28K for 1st Time, Hours After Crossing $27K; Market Cap Now Exceeds $500B • Bitcoin Tops $28K for 1st Time, Hours After Crossing $27K; Market Cap Now Exceeds $500B • Bitcoin Tops $28K for 1st Time, Hours After Crossing $27K; Market Cap Now Exceeds $500B \|\| Bitcoin Tops $28K for 1st Time, Hours After Crossing $27K; Market Cap Now Exceeds $500B: After tearing through $27,000 for the first time ever only a few hours before, the price of bitcoin briefly surged past $28,000 Sunday morning as the leading cryptocurrency’s recent meteoric rise continues. BTC’s market value now exceeds $500 billion. • Recently,BTChas been leaving a string of broken records in its wake afterpassingthe psychologically key $20,000 mark for the first time on Dec. 16. • In the last several days BTC seems to found yet another gear,breaking through $25,000Friday night for the first time andgoing through $26,000Saturday afternoon like a hot poker through one-ply tissue. • Roughly half a day later, BTC surged past $27,000 early Sunday morning, before racing past $28,000 just before dawn, before settling down to $27,604.67 at this writing, up 9.63% in the last 24 hours. • Year to date, BTC is up more than 275%. In the last 48 hours, it’s risen 14%. • With a market value of $512.34 billion, BTC is now more valuable than all but seven publicly traded companies, sitting between Alibaba at $545.4 billion and Tencent Holdings at $509.7 billion, according toStatista data. • Institutional investors are perceived to be driving this record-setting run. Among them: Anthony Scaramucci’s Skybridge Capital ($25 millionin December); MassMutual ($100 millionin December); and Guggenheim (up to 10%of its $5 billion macro fund). • With the end of the year looming, some fund managers may also be buying BTC so they canbragnext year about being smart enough to get in in 2020 while neglecting to say at which price they had done so. • In addition, the U.S. Federal Reserve, along with other central banks, has been printing money with abandon, trying to stave off the worst economic effects of the pandemic as U.S. President Donald Trump has been pushing Congress to pass an even bigger relief package to allow for larger stimulus checks. These actions are viewed by many as potential catalysts for inflation and bad for the U.S. dollar, both of which could be positive for BTC. • While the tremendous rise in BTC might make it easy to think we’re going to see $30,000 before the end of the year, it’s good to keep in mind this surge is taking place over a holiday weekend on thin volume. Monday could well bring a different narrative. • Still, there are those who think BTC is just getting started. Scaramucci has said he believes BTC is in the “early innings” and Saturday afternoon, crypto venture capitalist/bitcoin evangelist Tim Draper tweeted that the price of the leading cryptocurrency could rise ten-fold by the end of 2022. • Bitcoin Tops $28K for 1st Time, Hours After Crossing $27K; Market Cap Now Exceeds $500B • Bitcoin Tops $28K for 1st Time, Hours After Crossing $27K; Market Cap Now Exceeds $500B • Bitcoin Tops $28K for 1st Time, Hours After Crossing $27K; Market Cap Now Exceeds $500B • Bitcoin Tops $28K for 1st Time, Hours After Crossing $27K; Market Cap Now Exceeds $500B \|\| Bitcoin Tops $28K for 1st Time, Hours After Crossing $27K; Market Cap Now Exceeds $500B: After tearing through $27,000 for the first time ever only a few hours before, the price of bitcoin briefly surged past $28,000 Sunday morning as the leading cryptocurrency’s recent meteoric rise continues. BTC’s market value now exceeds $500 billion. Recently, BTC has been leaving a string of broken records in its wake after passing the psychologically key $20,000 mark for the first time on Dec. 16. In the last several days BTC seems to found yet another gear, breaking through $25,000 Friday night for the first time and going through $26,000 Saturday afternoon like a hot poker through one-ply tissue. Roughly half a day later, BTC surged past $27,000 early Sunday morning, before racing past $28,000 just before dawn, before settling down to $27,604.67 at this writing, up 9.63% in the last 24 hours. Year to date, BTC is up more than 275%. In the last 48 hours, it’s risen 14%. With a market value of $512.34 billion, BTC is now more valuable than all but seven publicly traded companies, sitting between Alibaba at $545.4 billion and Tencent Holdings at $509.7 billion, according to Statista data . Institutional investors are perceived to be driving this record-setting run. Among them: Anthony Scaramucci’s Skybridge Capital ( $25 million in December); MassMutual ( $100 million in December); and Guggenheim ( up to 10% of its $5 billion macro fund). With the end of the year looming, some fund managers may also be buying BTC so they can brag next year about being smart enough to get in in 2020 while neglecting to say at which price they had done so. In addition, the U.S. Federal Reserve, along with other central banks, has been printing money with abandon, trying to stave off the worst economic effects of the pandemic as U.S. President Donald Trump has been pushing Congress to pass an even bigger relief package to allow for larger stimulus checks. These actions are viewed by many as potential catalysts for inflation and bad for the U.S. dollar, both of which could be positive for BTC. While the tremendous rise in BTC might make it easy to think we’re going to see $30,000 before the end of the year, it’s good to keep in mind this surge is taking place over a holiday weekend on thin volume. Monday could well bring a different narrative. Still, there are those who think BTC is just getting started. Scaramucci has said he believes BTC is in the “early innings” and Saturday afternoon, crypto venture capitalist/bitcoin evangelist Tim Draper tweeted that the price of the leading cryptocurrency could rise ten-fold by the end of 2022. Story continues Related Stories Bitcoin Tops $28K for 1st Time, Hours After Crossing $27K; Market Cap Now Exceeds $500B Bitcoin Tops $28K for 1st Time, Hours After Crossing $27K; Market Cap Now Exceeds $500B Bitcoin Tops $28K for 1st Time, Hours After Crossing $27K; Market Cap Now Exceeds $500B Bitcoin Tops $28K for 1st Time, Hours After Crossing $27K; Market Cap Now Exceeds $500B View comments \|\| Bitcoin Faces Regulatory Scrutiny After Record-Breaking Rally: (Bloomberg) -- Its been a tough year by all accounts. But for Bitcoin, 2020 has been a marvelous time. The cryptocurrency almost quadrupled, surpassing $20,000 for the first time as it notched record after record. The diehards cheered it as an inflation hedge in an era of unprecedented central bank largesse. Wall Street veterans from Paul Tudor Jones to Stanley Druckenmiller blessed it as an alternative asset, adding to the rally. And companies like MicroStrategy Inc. and Square Inc. moved cash reserves into crypto in search of better returns than near-zero interest rates deliver. While none of those reasons for buying Bitcoin comport with its origins as an alternative to fiat currencies, they do point to a growing acceptance of crypto as an asset class of its own. And that has the zealot-like community taking yet another victory lap in their quest for legitimacy. Whats happening now -- and its happening faster than anyone could ever imagine -- is that Bitcoin is moving from a fringe esoteric asset to the mainstream, said Matt Hougan, chief investment officer of Bitwise Asset Management. If its going mainstream, there is just so much money on the sidelines that is going to have to come in and establish a position that it leaves me very bullish for 2021. But with Bitcoin capturing greater attention, it could also garner further scrutiny from regulators, says Guy Hirsch, managing director for the U.S. at online-trading platform eToro. Despite this meteoric rise, there are some storm clouds on the horizon, he said, including the fallout from several last-minute actions by the outgoing Trump administration, among others. Devotees say that in some ways, the pandemic-ravaged year proved the perfect environment for the digital coin. Warnings of rampant money-printing by global central banks -- some of which started to reveal their own interests in digital assets -- sparked fears of eventual inflation, while interest rates dipped to rock-bottom lows. Thats thrust some investors to chase returns and hedge with cryptocurrencies, pushing its price past $28,000 from around $7,200 at the start of January. Story continues Predicting where it will go is a fraught exercise. Many left the coin for dead after its 2017 rally resulted in a crash the following year, a stretch of time sometimes referred to as the crypto winter. But its surged more than 300% in 2020 and many investors say it could continue to gain next year. A Deutsche Bank survey found a majority see it ending 2021 higher, with 41% of participants projecting a target between $20,000-$49,999 and 12% seeing it crossing above $100,000, according to Jim Reid, a strategist at the firm. Earlier: Treasury Proposes Crackdown on Virtual-Currency Transfers What else is on the radar? To Meltem Demirors, chief strategy officer at digital-asset manager CoinShares, there are some concerns about what the incoming Joe Biden administration might mean for the crypto space. Generally, I think we have had challenges with the Dems -- they prefer more regulation, more oversight, Demirors said. I am a bit worried about the direction things are trending, especially around antitrust lawsuits and an erosion in internet privacy. Still, the industry has some allies, said Demirors, including North Carolinas Patrick McHenry and Ohios Warren Davidson, who she says have been advocates for the preservation of consumer financial privacy. Going forward, many strategists and investors say, the industry could see more scrutiny and tighter regulation with Biden in the White House. A lot will, of course, depend on who fills key positions within the administration. Janet Yellen, whos been nominated to serve as Treasury secretary in Bidens administration, has in recent years cautioned investors over Bitcoin, saying it was a highly speculative asset and not a stable store of value. A representative didnt immediately return a request seeking comment. Meanwhile, Bloomberg News reported that Gary Gensler could be nominated to replace Jay Clayton at the U.S. Securities and Exchange Commission. Claytons exit from the regulator is welcome news for crypto fans who saw him take a hard line over the years, suing to halt initial coin offerings, rejecting applications for Bitcoin exchange-traded funds and launching a last-minute lawsuit against Ripple Labs Inc. Gensler, who served as a Commodity Futures Trading Commission chairman during the Obama administration, is a senior advisor to the MIT Media Lab Digital Currency Initiative and teaches about blockchain technology and digital currencies. According to eToros Hirsch, there is uncertainty around how the Biden administration will approach cryptocurrencies, but the appointments are notable because Yellen is famously anti-crypto and Gensler is known for being pro-crypto. Without knowing how authorities will seek to more robustly regulate crypto in the coming years, it is hard for the markets to continue growing at the same rate they are now, especially if, as some fear, regulations aimed at curbing innovation rather than fostering it are enacted, said Hirsch. Once again, clarity is the name of the game. For more articles like this, please visit us at bloomberg.com Subscribe now to stay ahead with the most trusted business news source. ©2020 Bloomberg L.P. \|\| Bitcoin Faces Regulatory Scrutiny After Record-Breaking Rally: (Bloomberg) -- It’s been a tough year by all accounts. But for Bitcoin, 2020 has been a marvelous time. The cryptocurrency almost quadrupled, surpassing $20,000 for the first time as it notched record after record. The diehards cheered it as an inflation hedge in an era of unprecedented central bank largesse. Wall Street veterans from Paul Tudor Jones to Stanley Druckenmiller blessed it as an alternative asset, adding to the rally. And companies like MicroStrategy Inc. and Square Inc. moved cash reserves into crypto in search of better returns than near-zero interest rates deliver. While none of those reasons for buying Bitcoin comport with its origins as an alternative to fiat currencies, they do point to a growing acceptance of crypto as an asset class of its own. And that has the zealot-like community taking yet another victory lap in their quest for legitimacy. “What’s happening now -- and it’s happening faster than anyone could ever imagine -- is that Bitcoin is moving from a fringe esoteric asset to the mainstream,” said Matt Hougan, chief investment officer of Bitwise Asset Management. “If it’s going mainstream, there is just so much money on the sidelines that is going to have to come in and establish a position that it leaves me very bullish for 2021.” But with Bitcoin capturing greater attention, it could also garner further scrutiny from regulators, says Guy Hirsch, managing director for the U.S. at online-trading platform eToro. “Despite this meteoric rise, there are some storm clouds on the horizon,” he said, including the fallout from several last-minute actions by the outgoing Trump administration, among others. Devotees say that in some ways, the pandemic-ravaged year proved the perfect environment for the digital coin. Warnings of rampant money-printing by global central banks -- some of which started to reveal their own interests in digital assets -- sparked fears of eventual inflation, while interest rates dipped to rock-bottom lows. That’s thrust some investors to chase returns and hedge with cryptocurrencies, pushing its price past $28,000 from around $7,200 at the start of January. Predicting where it will go is a fraught exercise. Many left the coin for dead after its 2017 rally resulted in a crash the following year, a stretch of time sometimes referred to as the “crypto winter.” But it’s surged more than 300% in 2020 and many investors say it could continue to gain next year. A Deutsche Bank survey found a majority see it ending 2021 higher, with 41% of participants projecting a target between $20,000-$49,999 and 12% seeing it crossing above $100,000, according to Jim Reid, a strategist at the firm. Earlier: Treasury Proposes Crackdown on Virtual-Currency Transfers What else is on the radar? To Meltem Demirors, chief strategy officer at digital-asset manager CoinShares, there are some concerns about what the incoming Joe Biden administration might mean for the crypto space. “Generally, I think we have had challenges with the Dems -- they prefer more regulation, more oversight,” Demirors said. “I am a bit worried about the direction things are trending,” especially around antitrust lawsuits and an erosion in internet privacy. Still, the industry has some allies, said Demirors, including North Carolina’s Patrick McHenry and Ohio’s Warren Davidson, who she says have been advocates for the preservation of consumer financial privacy. Going forward, many strategists and investors say, the industry could see more scrutiny and tighter regulation with Biden in the White House. A lot will, of course, depend on who fills key positions within the administration. Janet Yellen, who’s been nominated to serve as Treasury secretary in Biden’s administration, has in recent years cautioned investors over Bitcoin, saying it was a “highly speculative asset” and “not a stable store of value.” A representative didn’t immediately return a request seeking comment. Meanwhile, Bloomberg News reported that Gary Gensler could be nominated to replace Jay Clayton at the U.S. Securities and Exchange Commission. Clayton’s exit from the regulator is welcome news for crypto fans who saw him take a hard line over the years, suing to halt initial coin offerings, rejecting applications for Bitcoin exchange-traded funds and launching a last-minute lawsuit against Ripple Labs Inc. Gensler, who served as a Commodity Futures Trading Commission chairman during the Obama administration, is a senior advisor to the MIT Media Lab Digital Currency Initiative and teaches about blockchain technology and digital currencies. According to eToro’s Hirsch, there is uncertainty around how the Biden administration will approach cryptocurrencies, but the appointments are notable “because Yellen is famously anti-crypto and Gensler is known for being pro-crypto.” “Without knowing how authorities will seek to more robustly regulate crypto in the coming years, it is hard for the markets to continue growing at the same rate they are now, especially if, as some fear, regulations aimed at curbing innovation rather than fostering it are enacted,” said Hirsch. “Once again, clarity is the name of the game.” For more articles like this, please visit us atbloomberg.com Subscribe nowto stay ahead with the most trusted business news source. ©2020 Bloomberg L.P. \|\| Bitcoin Faces Regulatory Scrutiny After Record-Breaking Rally: (Bloomberg) -- It’s been a tough year by all accounts. But for Bitcoin, 2020 has been a marvelous time. The cryptocurrency almost quadrupled, surpassing $20,000 for the first time as it notched record after record. The diehards cheered it as an inflation hedge in an era of unprecedented central bank largesse. Wall Street veterans from Paul Tudor Jones to Stanley Druckenmiller blessed it as an alternative asset, adding to the rally. And companies like MicroStrategy Inc. and Square Inc. moved cash reserves into crypto in search of better returns than near-zero interest rates deliver. While none of those reasons for buying Bitcoin comport with its origins as an alternative to fiat currencies, they do point to a growing acceptance of crypto as an asset class of its own. And that has the zealot-like community taking yet another victory lap in their quest for legitimacy. “What’s happening now -- and it’s happening faster than anyone could ever imagine -- is that Bitcoin is moving from a fringe esoteric asset to the mainstream,” said Matt Hougan, chief investment officer of Bitwise Asset Management. “If it’s going mainstream, there is just so much money on the sidelines that is going to have to come in and establish a position that it leaves me very bullish for 2021.” But with Bitcoin capturing greater attention, it could also garner further scrutiny from regulators, says Guy Hirsch, managing director for the U.S. at online-trading platform eToro. “Despite this meteoric rise, there are some storm clouds on the horizon,” he said, including the fallout from several last-minute actions by the outgoing Trump administration, among others. Devotees say that in some ways, the pandemic-ravaged year proved the perfect environment for the digital coin. Warnings of rampant money-printing by global central banks -- some of which started to reveal their own interests in digital assets -- sparked fears of eventual inflation, while interest rates dipped to rock-bottom lows. That’s thrust some investors to chase returns and hedge with cryptocurrencies, pushing its price past $28,000 from around $7,200 at the start of January. Predicting where it will go is a fraught exercise. Many left the coin for dead after its 2017 rally resulted in a crash the following year, a stretch of time sometimes referred to as the “crypto winter.” But it’s surged more than 300% in 2020 and many investors say it could continue to gain next year. A Deutsche Bank survey found a majority see it ending 2021 higher, with 41% of participants projecting a target between $20,000-$49,999 and 12% seeing it crossing above $100,000, according to Jim Reid, a strategist at the firm. Earlier: Treasury Proposes Crackdown on Virtual-Currency Transfers What else is on the radar? To Meltem Demirors, chief strategy officer at digital-asset manager CoinShares, there are some concerns about what the incoming Joe Biden administration might mean for the crypto space. “Generally, I think we have had challenges with the Dems -- they prefer more regulation, more oversight,” Demirors said. “I am a bit worried about the direction things are trending,” especially around antitrust lawsuits and an erosion in internet privacy. Still, the industry has some allies, said Demirors, including North Carolina’s Patrick McHenry and Ohio’s Warren Davidson, who she says have been advocates for the preservation of consumer financial privacy. Going forward, many strategists and investors say, the industry could see more scrutiny and tighter regulation with Biden in the White House. A lot will, of course, depend on who fills key positions within the administration. Janet Yellen, who’s been nominated to serve as Treasury secretary in Biden’s administration, has in recent years cautioned investors over Bitcoin, saying it was a “highly speculative asset” and “not a stable store of value.” A representative didn’t immediately return a request seeking comment. Meanwhile, Bloomberg News reported that Gary Gensler could be nominated to replace Jay Clayton at the U.S. Securities and Exchange Commission. Clayton’s exit from the regulator is welcome news for crypto fans who saw him take a hard line over the years, suing to halt initial coin offerings, rejecting applications for Bitcoin exchange-traded funds and launching a last-minute lawsuit against Ripple Labs Inc. Gensler, who served as a Commodity Futures Trading Commission chairman during the Obama administration, is a senior advisor to the MIT Media Lab Digital Currency Initiative and teaches about blockchain technology and digital currencies. According to eToro’s Hirsch, there is uncertainty around how the Biden administration will approach cryptocurrencies, but the appointments are notable “because Yellen is famously anti-crypto and Gensler is known for being pro-crypto.” “Without knowing how authorities will seek to more robustly regulate crypto in the coming years, it is hard for the markets to continue growing at the same rate they are now, especially if, as some fear, regulations aimed at curbing innovation rather than fostering it are enacted,” said Hirsch. “Once again, clarity is the name of the game.” For more articles like this, please visit us atbloomberg.com Subscribe nowto stay ahead with the most trusted business news source. ©2020 Bloomberg L.P. \|\| Crypto’s Choice: Join the Financial System or Fight It: This has been an extraordinary year. Not for a century has there been a pandemic on this scale. And although far fewer people have so far died from COVID-19 than perished in the 1918-19 “Spanish flu,” the economic damage is probably far worse. Governments shut down large parts of their economies to try to prevent the virus from spreading, and borrowed heavily to support businesses that could not trade and people who couldn’t work. Central banks cut interest rates to the bone and poured money into financial markets to ward off a deflationary collapse. Now, as 2020 draws to a close, returns on investment are nowhere to be found, and there are rising fears of inflation. It’s no surprise, therefore, that 2020 is ending with a cryptocurrency boom. During 2020, the fortunes of cryptocurrencies have been determined mainly by central banks. When financial markets crashed in March, cryptocurrencies suffered an even worse fall than traditional asset classes. Bitcoiners would like us to believe that the halvening in May helped bitcoin’s price to recover, but the fact is cryptocurrencies recovered as central banks poured money into financial markets . Continued infusions of fiat money caused the prices of all assets to rise, and cryptocurrencies proved to be no exception. This post is part of CoinDesk’s 2020 Year in Review – a collection of op-eds, essays and interviews about the year in crypto and beyond. Frances Coppola, a CoinDesk columnist, is a freelance writer and speaker on banking, finance and economics. Her book “ The Case for People’s Quantitative Easing ,” explains how modern money creation and quantitative easing work, and advocates “helicopter money” to help economies out of recession. Related: Charting Asia’s Dominant FinTech Frontier Fiat money injections by central banks have particularly fuelled the rise and rise of stablecoins, the ties that bind the crypto ecosystem ever more tightly to the existing financial system. All that fiat money has had to go somewhere, and thanks to central banks’ zero and negative interest rate policies, yield on conventional assets is all but non-existent. So why not have a flutter on the crypto markets, while holding an option to exit back into fiat quickly if it all goes wrong? Stablecoins may be more smoke and mirrors than a real safety net, but they seem to be giving growing numbers of people the confidence to trade cryptocurrencies. Story continues The March crash also revealed that, contrary to what bitcoiners had hoped, institutional investors don’t regard bitcoin as a “safe asset.” They dumped bitcoin and poured their money into traditional safe havens – dollar, yen and Swiss franc. And bitcoin’s recovery since then has pretty much tracked the rise of stocks and corporate bonds, though with somewhat greater volatility. So it seems that despite all that central bank money printing, investors don’t see inflation as their principal risk, or if they do, they don’t regard bitcoin as a good inflation hedge. They buy bitcoin and other established cryptocurrencies as high-risk assets to spice up their yield-starved portfolios. But in the crypto world, bitcoin is now firmly established as the principal “safe asset” for DeFi collateralized lending, along with ether and certain stablecoins. So depending on your point of view, bitcoin and ether are either high-risk, high-yield assets in their own right, or safe collateral for high-risk, high-yield borrowing and lending. If the cryptocurrency community chooses to conform, cryptocurrency may achieve widespread adoption – but at the price of eventually being absorbed into the financial system it set out to replace. Related: That Decoupling Sound: China, the US and a Year of CBDCs This bifurcation reflects the chasm between those for whom the crypto world is “home” and those for whom it is an unfamiliar sea full of bloodthirsty monsters . Even seasoned crypto investors can find crypto markets terrifying : it’s hardly surprising that traditional investors are as yet reluctant to do more than dip in their toes. But that doesn’t mean traditional finance isn’t interested in cryptocurrencies. On the contrary, cryptocurrencies are becoming high-yield assets of choice for many institutional investors. And as cryptocurrencies become increasingly easy to acquire, hold and trade, more and more ordinary people are investing in them, too. In fact, the ease with which retail investors can buy cryptocurrency with credit cards is a matter of some concern: credit cards are debt, and cryptocurrency trading is by any standards a high-risk activity. In the past, every time there has been a debt-fuelled cryptocurrency bubble, people have been broken. And as I write, cryptocurrency is bubbling again. When crypto bubbles, regulators wake up. This extraordinary year draws to a close with the news that the Financial Crimes Enforcement Network (FinCEN) wants to end anonymity for transfers from crypto exchanges to private wallets . The idea seems to be to bring crypto in line with traditional banking. See also: Frances Coppola: Banks Are Toast but Crypto Has Lost Its Soul It’s arguably unfair that traditional banks should have to comply with onerous know your customer/anti-money laundering (KYC/AML) requirements that crypto exchanges don’t. Crypto enthusiasts would no doubt retort that the solution is to end KYC/AML requirements, not to impose them on people transferring coins to their own private crypto wallets. But introducing this new rule might make cryptocurrencies more attractive to big institutional investors. And therein lies the dilemma for cryptocurrency. We might say that it is at a fork in the road. Will the community decide to conform to the rules of the existing financial system? Or will it reject those rules, break the ties that bind it to the existing system, and become a parallel financial system, setting its own rules and operating largely outside the existing law? If the cryptocurrency community chooses to conform, cryptocurrency may achieve widespread adoption – but at the price of eventually being absorbed into the financial system it set out to replace. But if the cryptocurrency community chooses separation, then the road will eventually lead to head-on conflict with those whose job it is to enforce the existing laws. Who will win? Related Stories Crypto’s Choice: Join the Financial System or Fight It Crypto’s Choice: Join the Financial System or Fight It \|\| Crypto’s Choice: Join the Financial System or Fight It: This has been an extraordinary year. Not for a century has there been a pandemic on this scale. And although far fewer people have so far died from COVID-19 than perished in the 1918-19 “Spanish flu,” the economic damage is probably far worse. Governments shut down large parts of their economies to try to prevent the virus from spreading, and borrowed heavily to support businesses that could not trade and people who couldn’t work. Central banks cut interest rates to the bone and poured money into financial markets to ward off a deflationary collapse. Now, as 2020 draws to a close, returns on investment are nowhere to be found, and there are rising fears of inflation. It’s no surprise, therefore, that 2020 is ending with a cryptocurrency boom. During 2020, the fortunes of cryptocurrencies have been determined mainly by central banks. When financial markets crashed in March, cryptocurrencies suffered an even worse fall than traditional asset classes. Bitcoiners would like us to believe that the halvening in May helpedbitcoin’sprice to recover, but the fact is cryptocurrencies recoveredas central banks poured money into financial markets. Continued infusions of fiat money caused the prices of all assets to rise, and cryptocurrencies proved to be no exception. This post is part of CoinDesk’s2020 Year in Review– a collection of op-eds, essays and interviews about the year in crypto and beyond. Frances Coppola, a CoinDesk columnist, is a freelance writer and speaker on banking, finance and economics. Her book “The Case for People’s Quantitative Easing,” explains how modern money creation and quantitative easing work, and advocates “helicopter money” to help economies out of recession. Related:Charting Asia’s Dominant FinTech Frontier Fiat money injections by central banks have particularly fuelled the rise and rise of stablecoins, the ties that bind the crypto ecosystem ever more tightly to the existing financial system. All that fiat money has had to go somewhere, and thanks to central banks’ zero and negative interest rate policies, yield on conventional assets is all but non-existent. So why not have a flutter on the crypto markets, while holding an option to exit back into fiat quickly if it all goes wrong? Stablecoins may be moresmoke and mirrorsthan a real safety net, but they seem to be giving growing numbers of people the confidence to trade cryptocurrencies. The March crash also revealed that, contrary to what bitcoiners had hoped, institutional investors don’t regard bitcoin as a “safe asset.” They dumped bitcoin and poured their money into traditional safe havens – dollar, yen and Swiss franc. And bitcoin’s recovery since then has pretty much tracked the rise of stocks and corporate bonds, though with somewhat greater volatility. So it seems that despite all that central bank money printing, investors don’t see inflation as their principal risk, or if they do, they don’t regard bitcoin as a good inflation hedge. They buy bitcoin and other established cryptocurrencies as high-risk assets to spice up their yield-starved portfolios. But in the crypto world, bitcoin is now firmly established as the principal “safe asset” for DeFi collateralized lending, along withetherand certain stablecoins. So depending on your point of view, bitcoin and ether are either high-risk, high-yield assets in their own right, or safe collateral for high-risk, high-yield borrowing and lending. If the cryptocurrency community chooses to conform, cryptocurrency may achieve widespread adoption – but at the price of eventually being absorbed into the financial system it set out to replace. Related:That Decoupling Sound: China, the US and a Year of CBDCs This bifurcation reflects the chasm between those for whom the crypto world is “home” and those for whom it isan unfamiliar sea full of bloodthirsty monsters. Even seasoned crypto investorscan find crypto markets terrifying: it’s hardly surprising that traditional investors are as yet reluctant to do more than dip in their toes. But that doesn’t mean traditional finance isn’t interested in cryptocurrencies. On the contrary, cryptocurrencies are becoming high-yield assets of choice for many institutional investors. And as cryptocurrencies become increasingly easy to acquire, hold and trade, more and more ordinary people are investing in them, too. In fact, the ease with which retail investors can buy cryptocurrency with credit cards is a matter of some concern: credit cards are debt, and cryptocurrency trading is by any standards a high-risk activity. In the past, every time there has been a debt-fuelled cryptocurrency bubble, people have been broken. And as I write, cryptocurrency is bubbling again. When crypto bubbles, regulators wake up. This extraordinary year draws to a close with the news that the Financial Crimes Enforcement Network (FinCEN)wants to end anonymity for transfers from crypto exchanges to private wallets. The idea seems to be to bring crypto in line with traditional banking. See also:Frances Coppola: Banks Are Toast but Crypto Has Lost Its Soul It’s arguably unfair that traditional banks should have to comply with onerous know your customer/anti-money laundering (KYC/AML) requirements that crypto exchanges don’t. Crypto enthusiasts would no doubt retort that the solution is to end KYC/AML requirements, not to impose them on people transferring coins to their own private crypto wallets. But introducing this new rule might make cryptocurrencies more attractive to big institutional investors. And therein lies the dilemma for cryptocurrency. We might say that it is at a fork in the road. Will the community decide to conform to the rules of the existing financial system? Or will it reject those rules, break the ties that bind it to the existing system, and become a parallel financial system, setting its own rules and operating largely outside the existing law? If the cryptocurrency community chooses to conform, cryptocurrency may achieve widespread adoption – but at the price of eventually being absorbed into the financial system it set out to replace. But if the cryptocurrency community chooses separation, then the road will eventually lead to head-on conflict with those whose job it is to enforce the existing laws. Who will win? • Crypto’s Choice: Join the Financial System or Fight It • Crypto’s Choice: Join the Financial System or Fight It \|\| The biggest business scandals of 2020: In a normal year, the wickedest corporate scandals and worst executive malfeasance are impossible to forget. But in 2020, many of us found ourselves hard-pressed to even recall what evil acts went down over the past 12 months. To that end, Fortune s editors have rounded up the 10 strangest, juiciest, most out-there business scandals of the year. Nikolas roll Perhaps inspired by infamous blood-testing firm Theranos, liquid hydrogen trucking startup Nikola has been taking the mantra fake it til you make it a bit too literally. Short-seller Hindenburg Research claimed in September that Nikola and its CEO, Trevor Milton, had made a string of misrepresentations of its technology . That included a 2016 promotional video that purported to show an operational Nikola freight truck but was in fact staged by rolling the truck down a long hill. Nikola later confirmed that claim. But the company brazenly argued there was no deception, since the firm at the time described the video as showing the vehicle in motiontechnically true, even if gravity was doing the work instead of hydrogen. Regardless, Milton soon fell on his sword, resigning as CEO. For fans of corporate scandal, the truly scintillating element here is that Hindenburgs report landed a mere two days after General Motors announced plans for a major partnership with Nikola (timing that surely helped Hindenburg profit from its short position). The deal would have seen GM take a major equity stake and manufacture Nikolas planned Badger electric pickup. GM took its sweet time wiping the egg off its face, waiting until late November to announce that it would effectively back out of the deal. From a June peak of $79.73, Nikolas stock today trades at closer to $17 per share. David Z. Morris Wirecards collapse The Wirecard saga offers two scandals in one. Former CEO Markus Braun seemed to think the financial services company had $2.1 billion that didnt exist, to put the most charitable construction on events; the company collapsed in June and investors lost billions. The parallel scandal is the failure of regulators and auditors to spot the looming disaster despite years of warning signs. Bruce Dorris, a former prosecutor who is president of the Association of Certified Fraud Examiners, says, When you look at the magnitude of what happened, this is the Enron of Germany. Wirecard, now insolvent and dismembered, was Europes preeminent fintech firm, offering mobile payment and banking services worldwide. Founded in 1999, it was near failure in 2002 when Braun, a former KPMG consultant, put in some capital and became CEO. The company expanded, went public, attracted new capital, and kept growing. Story continues Its success extended beyond financial growth. Wirecard was also a source of pride for Germany and Europe, a seemingly thriving global player in an important new industry dominated by startups in China and the U.S. Its rocketlike ascent peaked in 2018, when investors valued it at 24 billion euros ($27 billion) and it joined Germanys business aristocracy as one of the 30 members of the DAX stock index. But something wasnt right. Outsiders, notably journalist Dan McCrum of the Financial Times , had been finding discrepancies in Wirecards accounts since 2015. Wirecard always denied vehemently that anything was wrong, but the drumbeat of doubts continued. In 2019, Germanys market supervisor, BaFin, launched an investigationnot of Wirecard, but of the Financial Times . When the Singapore police raided Wirecards offices there a month later, BaFin banned short-selling of Wirecard stock for two months. Matters came to a head last June when Wirecard announced that 1.9 billion euros (about $2.1 billion) was missing. Braun quickly resigned. The company soon announced a prevailing likelihood that the missing funds do not exist. Braun was arrested the next day and remains in custody. The stock, which once traded at 191 euros ($233), was recently at 0.43 euros (52 cents). A report ordered by the European Parliament calls the Wirecard debacle a potentially pivotal event for Europes capital market that should trigger wholesale reform of financial market oversight. Enrons collapse inspired the Sarbanes-Oxley Act. If the Wirecard scandal can spark a similar response, it may do at least some good. Geoff Colvin Luckin Coffees frothy finances For a business named Luckin, its luck sure ran out quick. Founded in October 2017, the upstart coffee chain grew at an apparently breakneck pace to overtake Starbucks as Chinas biggest bean-brew slinger by the start of the year. But as its acknowledgment of rampant fraudulent accounting would later reveal, the companys caffeine fever-dreamed ambitionto hook a tea-drinking nation on joefeatured far more froth than substance. As one of Chinas youngest, hottest so-called unicorn startups, Beijing-based Luckin pitched itself as a tech company rather than a glorified barista biz. Luckin lured people to order drinks for takeout and delivery through its mobile app. The company served up copious discounts and free beverage vouchers, cutting the price of its drinks to about a third of the competitions. Like any good tech startup, executives prioritized growth over profits. The strategy worked well, for a while. By the end of 2018, a little more than a year after its founding, Luckin opened more than 2,000 stores and acquired a $2 billion valuation from private investors. By May 2019, it raised $561 million at a $4.2 billion valuation going public on the Nasdaq stock exchange. In early 2020, after supposedly usurping the Chinese markets coffee crown from Starbuckss tiara-donning merladyas measured by total number of stores (4,500 versus Starbucks 4,300)its valuation soared to an all-time high of $12 billion. Then came the accusations of fraud. Luckin initially denied a report, circulated on Jan. 31 by Muddy Waters, the prominent U.S. short-seller firm, alleging fabricated sales. A few weeks later, though, on April 2, Luckin came clean, fessing up to $310 million in made-up money inflowsa large portion of its reported revenue for 2019. The company acknowledged the inflated figures, saw its stock delisted, reorganized its leadership team, and in December reached a $180 million settlement with the U.S. Securities and Exchange Commission. Jinyi Guo, Luckins recently instated chairman and chief executive, said in a statement that the deal reflects our cooperation and remediation efforts, and enables the company to continue with the execution of its business strategy. He added that the company is committed to a system of strong internal financial controls, and adhering to best practices for compliance and corporate governance. Carson Block, Muddy Waters founder, tells Fortune that he believes Luckin is just the tip of the iceberg when it comes to securities fraud by Chinese-based companies. Im of the view that almost every single one of them is committing fraud to some extent, he said, noting that it is difficult for the SEC to enforce its rules on businesses based abroad. Robert Hackett Twitters security slip On the afternoon of July 15, 2020, a series of increasingly famous Twitter accounts, including those of Elon Musk, Kim Kardashian, and Barack Obama, appeared to be getting a little weird, tweeting out a simple Bitcoin scam. Twitter had to shut down all tweeting by verified accounts while it raced to find the security hole. Had the accounts been hijacked by an elite hacking team from Russia? State-backed operatives from North Korea? Hardly. A bored teenager in Florida named Graham Ivan Clark and some friends had managed to fool a Twitter employee over the phone into revealing the credentials needed to reset account passwords and email addresses. Clark was arrested a few weeks later and is awaiting trial. Its the oldest trick in the book, says Rachel Tobac, CEO of San Francisco security firm SocialProof Security. Twitter moved to limit how many employees had access to such power and took other steps to tighten security. It also issued a comprehensive report about how the hack had occurred. And that helped raise awareness and improve training at many companies to guard against further social engineering hacks, says Tobac. Humans are the first line of defense. Aaron Pressman Teslas lockdown defiance Electric-auto maker Tesla wildly outperformed expectations in 2020, starting with a largely pre-COVID first-quarter earnings beat, and powering itself all the way onto the S&P 500 . But CEO Elon Musks reaction to California measures to curb the coronavirus pandemic saw his company caught with its halo on crooked. The first shots were fired in April, when Tesla attempted to defy lockdown orders by calling workers back to its Fremont factory but was stopped by Alameda County officials. Days later, during the April earnings call for that impressive first quarter, Musk shocked an audience of investors and analysts by describing Californias lockdown orders as fascist, which sounds even worse 300,000 dead Americans later. On May 9, Tesla sued to get out of lockdown , reasonably pointing to conflicting statements from Alameda County about Teslas status as an essential business. But just days later, Tesla simply restarted vehicle production without permission. Alameda officials seemingly caved in to Musks libertarian defiance, announcing on May 13 that it would approve Teslas plan to reopen the plantafter Tesla already had done so. Conditions at the factory were subsequently described as unsafe , including lax face mask enforcement, and Tesla workers started testing positive for the coronavirus almost immediately . As if seeking to prove that he could devote much of his life to fighting climate change and still moonlight as a James Bond villain, Musk told workers they could stay home if they were concerned over safetythen sent termination letters to some who did. David Z. Morris A McDonalds pickle At the end of 2019, McDonalds CEO Steve Easterbrook was fired for sexting with a subordinate in what the company said was a consensual relationship. Given the values of the company, I agree with the board that it is time for me to move on, Easterbrook said at the time in an email to employees. Since then, things have gotten much, much messier. In August, McDonalds filed a lawsuit against Easterbrook, alleging that he had physical sexual relationships with three McDonalds employees in the year before he was fired and approved stock grants worth hundreds of thousands of dollars to one of those women. The company also claimed that he concealed evidence during its initial investigation, deleting emails from his phone. With these alleged new revelations, McDonalds argued it had cause to fire Easterbrook and that he should repay his severance. Easterbrook fired back that the company knew about the stock awards and had the information about his other relationships when they negotiated his severance. The litigation is ongoing, but what is clear is in its attempts to distance itself from the behavior of its former CEO, McDonalds is willing to publicly air its dirty laundry in a way rarely seen in corporate America. Beth Kowitt PPP fraud The $670 billion behemoth known as the Paycheck Protection Program is, by most measures, the largest small-business relief program in American historya cornerstone of the federal governments response to a once-in-a-generation pandemic that has devastated small-business owners across the country. Yet nine months after it was enacted as part of the $2.2 trillion CARES Act pandemic aid package, PPP is swiftly becoming more synonymous with the least flattering aspects of government intervention: namely, waste, graft, and fraud that critics say was enabled by mismanagement and a lack of transparency on the part of the Trump administration. Instances of PPP fraud are legion and continue to pile up, from the fake Florida ministry that allegedly received more than $8 million in government funds to the Texas man who allegedly poured nearly $1 million of PPP money into cryptocurrency. Those cases appear to be only the tip of the iceberg; there are suggestions that hundreds of millions, if not billions of dollars of taxpayer funds, may have been fraudulently allocated through PPP, with government watchdogs acknowledging the possibility of widespread potential fraud and abuse. The Trump administration, for its part, points to the programs successes in allocating more than $520 billion to roughly 5.2 million American businesses, enabling many to save jobs and keep workers on their payroll during a time of severe economic distress. But even on a legitimate basis, the program clearly had its flaws. Data recently released by the Small Business Administration suggests that more than half of all PPP funds went to only 5% of recipients and more than a quarter went to only 1% , with large and well-capitalized public companies among the beneficiaries of that lopsided distribution. Whats more, theres ample evidence that many small businessesparticularly minority-owned ones, which were hit disproportionately hard by the pandemic werent able to get the money they needed through the program. Meanwhile, wealthy celebrities and well-connected politicians found it all too convenient to get the funds they desired. As one government watchdog put it : Fundamentally, this program was poorly designed and irresponsibly run by the Trump administration. Rey Mashayekhi Wells Fargo Wait Wells Fargo is a top business scandal of 2020? Didnt that mess happen in 2016? Turns out its more accurate to say the scandal started in 2016. Four years later its still going strong, meriting a Special Achievement Award among business scandals and thus a place on our list. D-Day was Sept. 8, 2016, when news broke that the bank had created more than 2 million fake accounts and would pay $185 million in penalties. That spectacular revelation led the news; within weeks congressional committees held hearings , and CEO John Stumpf abruptly retired . With penalties paid and leadership changed, the trouble seemed well on its way to resolution. But it wasnt. Fast-forward to 2020: In January, Stumpf agreed to pay a $17.5 million fine to the Office of the Comptroller of the Currency for his role in the scandal, and the OCC sought $37.5 million in fines from five other ex-officers. Wells Fargo in February agreed to pay $3 billion to resolve federal criminal and civil investigations of the scandalan amount that was appropriate given the staggering size, scope, and duration of Wells Fargos illicit conduct, said U.S. Attorney Andrew Murray. In November, Stumpf agreed to pay the Securities and Exchange Commission a $2.5 million fine. The SEC also brought charges against Carrie L. Tolstedt, who led Wells Fargos retail bank when the fake accounts were created. And those are just the main developments of 2020. In the intervening years the scandal got bigger, not smaller. The bank discovered it had created 3.5 million fake accounts, not 2 million. It also discovered it had charged more than 800,000 car loan customers for auto insurance they didnt need or even know about (fine: $1 billion; class-action lawsuit settlement: about $400 million). Most damaging of all, the Fed in 2018 prohibited Wells Fargo from growing its assets beyond their level at the end of 2017, $1.95 trillionan unprecedented sanction. Thats a major reason Wells Fargo has badly underperformed the S&P 500 and the other biggest banks (JPMorgan Chase, Bank of America , Citigroup) since the scandal began. Wells Fargos February settlement with the Justice Department includes a deferred prosecution agreement thats contingent on the bank continuing to cooperate with further government investigations. Further investigations? After four years, this epic scandal is still far from over. Geoff Colvin eBay on the attack In August 2019, Ina and David Steiner, founders of online retail blog eCommerce Bytes, experienced harassment in a variety of forms: oddly threatening items mailed to their home including a bloody pig mask, live spiders and cockroaches, pornography, and a book about grieving a spouse; an expensive late-night pizza order; and Craigslist ads advertising a swingers party and an estate sale at their home address. The couple, of Natick, Mass., reported the occurrences to police. It wasnt until they noticed people in cars watching and following them that authorities began to connect the dots, the Wall Street Journal reported : Two different cars were rentals issued to eBay employees. A criminal investigation found ongoing internal animosity at eBay toward the bloggers, who sometimes had been critical of eBay in their coverage. According to an FBI affidavit, former eBay chief communications officer Steve Wymer read an eCommerce Bytes post about eBays then-CEO Devin Wenigs salary back in April 2019, then texted Wenig, We are going to crush this lady, referring to its author, Ina Steiner. Wenig and Wymer departed the company in September 2019. In a statement, eBay said that while Wenig did not authorize the harassment campaign, his inappropriate communications regarding the blog were among a number of considerations leading to his departure from the company, Fortune s Aaron Pressman reported in a summary of the scandal earlier this year. In another statement, obtained by Bloomberg , eBay said neither the company nor any current eBay employee was indicted and that eBay was notified by law enforcement in August 2019 of suspicious actions by its security personnel toward a blogger, who writes about the company, and her husband. The company said it terminated all involved employeesin September 2019. Investigators found that the group behind the plot used prepaid debit cards, burner phones, anonymous email accounts, and VPN software to try to obscure their identities, and deleted messaging records. In September, four of the six individuals allegedly involved in the plot admitted to their involvement and soon pleaded guilty to conspiracy to commit cyberstalking and conspiracy to tamper with witnesses. Lydia Belanger Carlos Ghosn Technically it was Dec. 29, 2019, when Carlos Ghosn boarded a bullet train from his home in Tokyo (where he was facing charges of financial misconduct and was free on bail). But it wasnt until the early days of January that the full details about Ghosns escape from what he has called a rigged Japanese justice system began to emerge in the press. The train ride would be the first leg of his escape to Lebanon that seemed plucked from a Hollywood movie. Aided by an exGreen Beret , he hid in a box designed to transport stereo equipment and was shuttled onto a private plane that flew to Istanbul, then transferred to a smaller plane that took him to Beirut (a country where he has a home and would face no extradition to Japan). Perhaps the most astounding thing about the Ghosn saga? The fact that so many of us naively assumed in January that it would certainly be the business story of 2020. Lee Clifford More must-read tech coverage from Fortune : Intuits CEO on the $7.1 billion Credit Karma acquisition , reorienting toward A.I., and reskilling workers Commentary: The broken business model of Uber and Lyft is taking a heavy toll on society WarnerMedia Studios chief on the controversial decision to release new movies on HBO Max Look out for these new smartphone features in 2021 LinkedIn saw a massive influx in user posts and violations this year This story was originally featured on Fortune.com View comments \|\| The biggest business scandals of 2020: In a normal year, the wickedest corporate scandals and worst executive malfeasance are impossible to forget. But in 2020, many of us found ourselves hard-pressed to evenrecallwhat evil acts went down over the past 12 months. To that end,Fortune‘s editors have rounded up the 10 strangest, juiciest, most out-there business scandals of the year. Perhaps inspired by infamous blood-testing firm Theranos, liquid hydrogen trucking startup Nikola has been taking the mantra “fake it ’til you make it” a bit too literally. Short-sellerHindenburg Research claimed in Septemberthat Nikola and its CEO, Trevor Milton, hadmade a string of misrepresentations of its technology. That included a 2016 promotional video that purported to show an operational Nikola freight truck but was in fact staged by rolling the truck down a long hill. Nikola later confirmed that claim. But the company brazenly argued there was no deception, since the firm at the time described the video as showing the vehicle “in motion”—technically true, even if gravity was doing the work instead of hydrogen. Regardless, Milton soon fell on his sword, resigning as CEO. For fans of corporate scandal, the truly scintillating element here is that Hindenburg’s report landed a mere two days afterGeneral Motorsannounced plans for a major partnership with Nikola (timing that surely helped Hindenburg profit from its short position). The deal would have seen GM take a major equity stake and manufacture Nikola’s planned Badger electric pickup. GM took its sweet time wiping the egg off its face, waiting until late November to announce that it would effectively back out of the deal. From a June peak of $79.73, Nikola’s stock today trades at closer to $17 per share. —David Z. Morris TheWirecard sagaoffers two scandals in one. Former CEO Markus Braun seemed to think the financial services company had $2.1 billion that didn’t exist, to put the most charitable construction on events; the company collapsed in June and investors lost billions. The parallel scandal is the failure of regulators and auditors to spot the looming disaster despite years of warning signs. Bruce Dorris, a former prosecutor who is president of the Association of Certified Fraud Examiners, says, “When you look at the magnitude of what happened, this is the Enron of Germany.” Wirecard, now insolvent and dismembered, was Europe’s preeminent fintech firm, offering mobile payment and banking services worldwide. Founded in 1999, it was near failure in 2002 when Braun, a formerKPMGconsultant, put in some capital and became CEO. The company expanded, went public, attracted new capital, and kept growing. Its success extended beyond financial growth. Wirecard was also a source of pride for Germany and Europe, a seemingly thriving global player in an important new industry dominated by startups in China and the U.S. Its rocketlike ascent peaked in 2018, when investors valued it at 24 billion euros ($27 billion) and it joined Germany’s business aristocracy as one of the 30 members of the DAX stock index. But something wasn’t right. Outsiders, notably journalist Dan McCrum of theFinancial Times, had been finding discrepancies in Wirecard’s accounts since 2015. Wirecard always denied vehemently that anything was wrong, but the drumbeat of doubts continued. In 2019, Germany’s market supervisor, BaFin, launched an investigation—not of Wirecard, but of theFinancial Times. When the Singapore police raided Wirecard’s offices there a month later, BaFin banned short-selling of Wirecard stock for two months. Matters came to a head last June whenWirecard announcedthat 1.9 billion euros (about $2.1 billion) was “missing.” Braun quickly resigned. The company soon announced “a prevailing likelihood” that the missing funds“do not exist.”Braunwas arrestedthe next day and remains in custody. The stock, which once traded at 191 euros ($233), was recently at 0.43 euros (52 cents). Areportordered by the European Parliament calls the Wirecard debacle “a potentially pivotal event for Europe’s capital market” that should trigger wholesale reform of financial market oversight. Enron’s collapse inspired the Sarbanes-Oxley Act. If the Wirecard scandal can spark a similar response, it may do at least some good. —Geoff Colvin For a business named Luckin, its luck sure ran out quick. Founded in October 2017, the upstart coffee chain grew at an apparently breakneck pace to overtakeStarbucksas China’s biggest bean-brew slinger by the start of the year. But as its acknowledgment of rampant fraudulent accounting would later reveal, the company’s caffeine fever-dreamed ambition—to hook a tea-drinking nation on joe—featured far more froth than substance. As one of China’s youngest, hottest so-called unicorn startups, Beijing-based Luckin pitched itself as a tech company rather than a glorified barista biz. Luckin lured people to order drinks for takeout and delivery through its mobile app. The company served up copious discounts and “free” beverage vouchers, cutting the price of its drinks to about a third of the competition’s. Like any good tech startup, executives prioritized growth over profits. The strategy worked well, for a while. By the end of 2018, a little more than a year after its founding, Luckin opened more than 2,000 stores and acquired a $2 billion valuation from private investors. By May 2019, it raised $561 million at a $4.2 billion valuation going public on the Nasdaq stock exchange. In early 2020, after supposedly usurping the Chinese market’s coffee crown from Starbucks’s tiara-donning merlady—as measured by total number of stores (4,500 versus Starbucks’ 4,300)—its valuation soared to an all-time high of $12 billion. Then came the accusations of fraud. Luckin initially denied a report, circulated on Jan. 31 by Muddy Waters, the prominent U.S. short-seller firm, alleging fabricated sales. A few weeks later, though, on April 2, Luckin came clean, fessing up to $310 million in made-up money inflows—a large portion of its reported revenue for 2019. The company acknowledged the inflated figures, saw its stock delisted, reorganized its leadership team, and in December reached a $180 million settlement with the U.S. Securities and Exchange Commission. Jinyi Guo, Luckin’s recently instated chairman and chief executive, said in a statement that the deal “reflects our cooperation and remediation efforts, and enables the company to continue with the execution of its business strategy.” He added that the company is “committed to a system of strong internal financial controls, and adhering to best practices for compliance and corporate governance.” Carson Block, Muddy Waters’ founder, tellsFortunethat he believes Luckin is just the tip of the iceberg when it comes to securities fraud by Chinese-based companies. “I’m of the view that almost every single one of them is committing fraud to some extent,” he said, noting that it is difficult for the SEC to enforce its rules on businesses based abroad. —Robert Hackett On the afternoon of July 15, 2020, a series of increasingly famousTwitteraccounts, including those of Elon Musk, Kim Kardashian, and Barack Obama, appeared to be getting a little weird, tweeting out a simple Bitcoin scam. Twitter had to shut down all tweeting by verified accounts while it raced to find the security hole. Had the accounts been hijacked by an elite hacking team from Russia? State-backed operatives from North Korea? Hardly. A bored teenager in Florida named Graham Ivan Clark and some friends had managed to fool a Twitter employee over the phone into revealing the credentials needed to reset account passwords and email addresses. Clark was arrested a few weeks later and is awaiting trial. “It’s the oldest trick in the book,” says Rachel Tobac, CEO of San Francisco security firm SocialProof Security. Twitter moved to limit how many employees had access to such power and took other steps to tighten security. It also issued a comprehensive report about how the hack had occurred. And that helped raise awareness and improve training at many companies to guard against further “social engineering” hacks, says Tobac. “Humans are the first line of defense.” —Aaron Pressman Electric-auto maker Tesla wildly outperformed expectations in 2020, starting with a largely pre-COVID first-quarter earnings beat, and powering itself all the wayonto the S&P 500. But CEO Elon Musk’s reaction to California measures to curb the coronavirus pandemic saw his company caught with its halo on crooked. The first shots were fired in April, whenTeslaattempted to defy lockdown orders bycalling workers backto its Fremont factory but was stopped by Alameda County officials. Days later, during the April earnings call for that impressive first quarter, Musk shocked an audience of investors and analysts by describing California’s lockdown ordersas “fascist,”which sounds even worse 300,000 dead Americans later. On May 9, Teslasued to get out of lockdown, reasonably pointing to conflicting statements from Alameda County about Tesla’s status as an “essential business.” But just days later, Tesla simplyrestarted vehicle productionwithout permission. Alameda officials seemingly caved in to Musk’s libertarian defiance, announcing on May 13 that it would approve Tesla’s plan to reopen the plant—after Tesla already had done so. Conditions at the factory were subsequentlydescribed as unsafe, including lax face mask enforcement, and Tesla workers started testing positive for the coronavirusalmost immediately. As if seeking to prove that he could devote much of his life to fighting climate change and still moonlight as a James Bond villain, Musktold workers they could stay homeif they were concerned over safety—then senttermination lettersto some who did. —David Z. Morris At the end of 2019, McDonald’sCEO Steve Easterbrookwas fired for sexting with a subordinate in what the company said was a consensual relationship. “Given the values of the company, I agree with the board that it is time for me to move on,” Easterbrook said at the time in an email to employees. Since then, things have gotten much, much messier. In August, McDonald’s filed a lawsuit against Easterbrook, alleging that he had physical sexual relationships with three McDonald’s employees in the year before he was fired and approved stock grants worth hundreds of thousands of dollars to one of those women. The company also claimed that he concealed evidence during its initial investigation, deleting emails from his phone. With these alleged new revelations, McDonald’s argued it had cause to fire Easterbrook and that he should repay his severance. Easterbrook fired back that the company knew about the stock awards and had the information about his other relationships when they negotiated his severance. The litigation is ongoing, but what is clear is in its attempts to distance itself from the behavior of its former CEO, McDonald’s is willing to publicly air its dirty laundry in a way rarely seen in corporate America. —Beth Kowitt The $670 billion behemoth known as the Paycheck Protection Program is, by most measures, the largest small-business relief program in American history—a cornerstone of the federal government’s response to a once-in-a-generation pandemic that has devastated small-business owners across the country. Yet nine months after it was enacted as part of the $2.2 trillion CARES Act pandemic aid package, PPP is swiftly becoming more synonymous with the least flattering aspects of government intervention: namely, waste, graft, and fraud that critics say was enabled by mismanagement and alack of transparencyon the part of the Trump administration. Instances of PPP fraud are legion and continue to pile up, from thefake Florida ministrythat allegedly received more than $8 million in government funds to the Texas man who allegedly pourednearly $1 millionof PPP money into cryptocurrency. Those cases appear to be only the tip of the iceberg; there are suggestions that hundreds of millions, if not billions of dollars of taxpayer funds,may have been fraudulently allocatedthrough PPP, with government watchdogsacknowledgingthe possibility of “widespread potential fraud and abuse.” The Trump administration, for its part,points to the program’s successesin allocating more than $520 billion to roughly 5.2 million American businesses, enabling many to save jobs and keep workers on their payroll during a time of severe economic distress. But even on a legitimate basis, the program clearly had its flaws. Data recently released by the Small Business Administration suggests that more than half of all PPP funds went toonly 5% of recipientsand more than a quarterwent to only 1%, with large and well-capitalizedpublic companies among the beneficiariesof that lopsided distribution. What’s more, there’s ample evidence that many small businesses—particularly minority-owned ones, which werehit disproportionately hardby the pandemic—weren’t able to get the money they neededthrough the program. Meanwhile,wealthy celebritiesandwell-connected politiciansfound it all too convenient to get the funds they desired. As one government watchdogput it: “Fundamentally, this program was poorly designed and irresponsibly run by the Trump administration.” —Rey Mashayekhi Wait—Wells Fargois a top business scandal of 2020? Didn’t that mess happen in 2016? Turns out it’s more accurate to say the scandal started in 2016. Four years later it’s still going strong, meriting a Special Achievement Award among business scandals and thus a place on our list. D-Day was Sept. 8, 2016, whennews brokethat the bank had created more than 2 million fake accounts and would pay $185 million in penalties. That spectacular revelation led the news; within weeks congressional committeesheld hearings, and CEO John Stumpfabruptly retired. With penalties paid and leadership changed, the trouble seemed well on its way to resolution. But it wasn’t. Fast-forward to 2020: In January,Stumpf agreedto pay a $17.5 million fine to the Office of the Comptroller of the Currency for his role in the scandal, and the OCC sought $37.5 million in fines from five other ex-officers. Wells Fargo in February agreed topay $3 billionto resolve federal criminal and civil investigations of the scandal—an amount that was “appropriate given the staggering size, scope, and duration of Wells Fargo’s illicit conduct,” said U.S. Attorney Andrew Murray. In November, Stumpfagreed to paythe Securities and Exchange Commission a $2.5 million fine. The SEC also brought charges against Carrie L. Tolstedt, who led Wells Fargo’s retail bank when the fake accounts were created. And those are just the main developments of 2020. In the intervening years the scandal got bigger, not smaller. The bank discovered it had created 3.5 million fake accounts, not 2 million. It also discovered it had charged more than 800,000 car loan customers for auto insurance they didn’t need or even know about (fine: $1 billion; class-action lawsuit settlement: about $400 million). Most damaging of all, the Fed in 2018prohibited Wells Fargo from growingits assets beyond their level at the end of 2017, $1.95 trillion—an unprecedented sanction. That’s a major reason Wells Fargo has badly underperformed the S&P 500 and the other biggest banks (JPMorgan Chase,Bank of America, Citigroup) since the scandal began. Wells Fargo’s February settlement with the Justice Department includes a deferred prosecution agreement that’s contingent on the bank “continuing to cooperate with further government investigations.” Further investigations? After four years, this epic scandal is still far from over. —Geoff Colvin In August 2019, Ina and David Steiner, founders of online retail blog eCommerce Bytes, experienced harassment in a variety of forms: oddly threatening items mailed to their home including a bloody pig mask, live spiders and cockroaches, pornography, and a book about grieving a spouse; an expensive late-night pizza order; and Craigslist ads advertising a swingers party and an estate sale at their home address. The couple, of Natick, Mass., reported the occurrences to police. It wasn’t until they noticed people in cars watching and following them that authorities began to connect the dots, theWall Street Journalreported: Two different cars were rentals issued to eBay employees. A criminal investigation found ongoing internal animosity at eBay toward the bloggers, who sometimes had been critical of eBay in their coverage. According to an FBI affidavit, former eBay chief communications officer Steve Wymer read an eCommerce Bytespostabout eBay’s then-CEO Devin Wenig’s salary back in April 2019, then texted Wenig, “We are going to crush this lady,” referring to its author, Ina Steiner. Wenig and Wymer departed the company in September 2019. In a statement, eBay said “that while Wenig did not authorize the harassment campaign, his ‘inappropriate communications’ regarding the blog were among ‘a number of considerations leading to his departure from the company,’”Fortune’s Aaron Pressman reported in asummaryof the scandal earlier this year. In another statement, obtained byBloomberg, eBay said “neither the company nor any current eBay employee was indicted” and that eBay “was notified by law enforcement in August 2019 of suspicious actions by its security personnel toward a blogger, who writes about the company, and her husband.” The company said it “terminated all involved employees…in September 2019.” Investigators found that the group behind the plot used prepaid debit cards, burner phones, anonymous email accounts, and VPN software to try to obscure their identities, and deleted messaging records. In September, four of the six individuals allegedly involved in the plotadmitted to their involvementand soonpleaded guiltyto conspiracy to commit cyberstalking and conspiracy to tamper with witnesses. —Lydia Belanger Technically it was Dec. 29, 2019, when Carlos Ghosnboarded a bullet train from his home in Tokyo(where he was facing charges of financial misconduct and was free on bail). But it wasn’t until the early days of January that the full details about Ghosn’s escape from what he has called a “rigged Japanese justice system” began to emerge in the press. The train ride would be the first leg of his escape to Lebanon that seemed plucked from a Hollywood movie.Aided by an ex–Green Beret, he hid in a box designed to transport stereo equipment and was shuttled onto a private plane that flew to Istanbul, then transferred to a smaller plane that took him to Beirut (a country where he has a home and would face no extradition to Japan). Perhaps the most astounding thing about the Ghosn saga? The fact that so many of us naively assumed in January that it would certainly bethebusiness story of 2020. —Lee Clifford • Intuit’s CEO on the $7.1 billion Credit Karma acquisition, reorienting toward A.I., and reskilling workers • Commentary: The broken business model of Uber and Lyft istaking a heavy toll on society • WarnerMedia Studios chief onthe controversial decision to release new movies on HBO Max • Look out for thesenew smartphone features in 2021 • LinkedIn sawa massive influxin user posts and violations this year This story was originally featured onFortune.com \|\| Bitcoin hits $500bn market cap for the first time in history: According to Asset Dash, the digital currency now it takes 11th place among the biggest global assets, behind such giants as Facebook, Apple and Tesla. Photo: Nik Oiko/SOPA Images/LightRocket via Getty Images The combined value of all Bitcoin ( BTC-USD ) tokens in circulation has reached half a trillion dollars for the first time ever as the cryptocurrency continues its stellar rally. According to Asset Dash , the digital currency now it takes 11th place among the biggest global assets, behind such giants as Facebook ( FB ), Apple ( AAPL ), and Tesla ( TSLA ) and ahead of Samsung ( 005930.KS ), Walmart ( WMT ) and Coca Cola ( KO ). It also pushed ahead of Visa on Sunday, before pulling back slightly, making it the worlds largest financial service. In just the last day alone, Bitcoin climbed around 15% to $28,000 (£20,925), passing the psychological $25,000 benchmark. By 5pm on Sunday it was up just 1.4% to $26,800. Bitcoin has risen around 50% since the week before Christmas. The rise last week was accelerated by British fund manager Ruffer Investment Management ( RICA.L ), which revealed it had bought $745m worth of Bitcoin, pushing the digital currency above the $20,000 price level for the first time. Ruffer has allocated 2.7% of the fund to the digital currency, using its profits from gold to buy Bitcoin. It comes as high-profile Bitcoin investor Nigel Green, chief executive of financial advisory group deVere, sold half of his holdings this week. I have sold half my holdings of Bitcoin as it hit an all-time high," he said in an emailed statement. Why? Because it should now be treated as any other investmentthats to say, where possible, its better to sell high and re-buy in the dips. He added: The steady gains in the price of Bitcoin has made the digital currency the top performing asset of 2020, up over 200%. As such, I felt the time was right for profit-taking. There should be no misunderstanding about my decision to sell. It is not due to a lack of belief in bitcoin, or the concept of digital currenciesits profit-taking now to buy more later. The price of Bitcoin has soared this month. Chart: Yahoo Finance Bitcoin started 2020 at around $7,000 per coin. Despite its rise this year, the cryptocurrency remains extremely volatile and experts often remain sceptical about using it as an investment. Story continues However, Matt Hougan, chief investment officer of Bitwise Asset Management told Bloomberg: Whats happening now - and its happening faster than anyone could ever imagine - is that Bitcoin is moving from a fringe esoteric asset to the mainstream. If its going mainstream, there is just so much money on the sidelines that is going to have to come in and establish a position that it leaves me very bullish for 2021. In October, PayPal ( PYPL ) announced that it would allow the cryptocurrencies on its platform in what was a major move toward the mass adoption of digital currencies. The California-based payments platform said the launch of its new service would allow customers to buy, hold and sell cryptocurrency directly from their PayPal account. US account holders will be able to deal in digital coins, including Bitcoin, Ethereum, Bitcoin Cash and Litcoin in the coming weeks and plans to expand to Venmo and some countries in the first half of 2021. Customers will be able to use their cryptocurrency holdings to pay for goods and services at PayPals 26 million merchants worldwide from early next year. However, merchants will not receive virtual coin payments, with cryptocurrency payments being settled using fiat currencies, such as the US dollar, the company said. PayPal has partnered with Paxos, a New York chartered trust company, to provide cryptocurrency trading and custodial services. Watch: Why investors are piling into Bitcoin despite the risks [Social Media Buzz] None available.	27362.44, 28840.95, 29001.72, 29374.15, 32127.27, 32782.02, 31971.91, 33992.43, 36824.36, 39371.04
Given the historical Bitcoin prices from the last 90 days, predict the next 10 daily closing prices. The historical prices are: 7494.17, 7541.45, 7643.45, 7720.25, 7514.47, 7633.76, 7653.98, 7678.24, 7624.92, 7531.98, 6786.02, 6906.92, 6582.36, 6349.90, 6675.35, 6456.58, 6550.16, 6499.27, 6734.82, 6769.94, 6776.55, 6729.74, 6083.69, 6162.48, 6173.23, 6249.18, 6093.67, 6157.13, 5903.44, 6218.30, 6404.00, 6385.82, 6614.18, 6529.59, 6597.55, 6639.14, 6673.50, 6856.93, 6773.88, 6741.75, 6329.95, 6394.71, 6228.81, 6238.05, 6276.12, 6359.64, 6741.75, 7321.04, 7370.78, 7466.86, 7354.13, 7419.29, 7418.49, 7711.11, 8424.27, 8181.39, 7951.58, 8165.01, 8192.15, 8218.46, 8180.48, 7780.44, 7624.91, 7567.15, 7434.39, 7032.85, 7068.48, 6951.80, 6753.12, 6305.80, 6568.23, 6184.71, 6295.73, 6322.69, 6297.57, 6199.71, 6308.52, 6334.73, 6580.63, 6423.76, 6506.07, 6308.53, 6488.76, 6376.71, 6534.88, 6719.96, 6763.19, 6707.26, 6884.64, 7096.28.	[Bitcoin Technical Analysis for 2018-08-28] Volume: 4659940000, RSI (14-day): 59.16, 50-day EMA: 6850.32, 200-day EMA: 7615.71 [Wider Market Context] Gold Price: 1207.40, Gold RSI: 49.63 Oil Price: 68.53, Oil RSI: 52.70 [Recent News (last 7 days)] Don’t Take Profits in Advanced Micro Devices Stock Just Yet: The past six months have been pretty great for Advanced Micro Devices (NASDAQ: AMD ) as investors warmed up to the semiconductor company and the stock shot 60% higher. The tech firm was beaten down earlier in the year as the bitcoin wave crashed and trade tension with China hurt sentiment. The bulls have been flooding into AMD stock in recent months as the firm’s latest chip offerings steal market share from major competitors. But with the share price in the mid-20s, many are starting to wonder if it’s profit-taking time. Where the Pop Came From AMD stock has spent the majority of its existence playing second fiddle to its larger rivals like Intel (NASDAQ: INTC ) and Nvidia (NASDAQ: NVDA ), but this year the company’s new line of improved chips helped put the company on the map and have been taking the market by storm. InvestorPlace - Stock Market News, Stock Advice & Trading Tips AMD’s most recent quarter showed that overall sales rose an impressive 53%, helped by the fact that computer and graphics sales were up 64%. AMD’s latest-generation Ryzen chips are viewed as being “better” than Intel’s which has helped the company ink deals with big-time computer makers like Samsung (OTCMKTS: SSNLF ) and HP (NYSE: HP ). 15 Services Stocks to Buy for a Piece of U.S. Economic Growth The graphics chip sales increase has been a major driver of AMD stock’s success because those types of chips are used in high-growth technology industries like artificial intelligence. Being at the top of the class in a segment with a long and steep growth curve has been a major boon for AMD’s share price. Aside from the graphics chips, AMD has also rolled out a new line of Epyc chips for use in data centers. Again, this is a high-growth industry that offers a lot of upside for semiconductor companies like Advanced Micro Devices. So far, AMD has had its chips used in data centers at big names like Baidu (NASDAQ: BIDU ) and Microsoft (NASDAQ: MSFT ), and that list is expected to continue growing. Story continues Momentum Likely to Continue While AMD is having its moment in the sun, Intel is still tough competition, and the company’s size and experience makes it a formidable opponent. Plus, one of the reasons INTC has fallen behind is the fact that the firm had delays in its product planning — a window of opportunity that is unlikely to open again. However, as Matthew Ramsay of Cowen pointed out , diversity is likely to become a priority for digital-processing firms. Using only one supplier with one type of chip presents a security risk, so the market is likely to make room for more than one chipmaker, and AMD looks likely to benefit from that shift for years to come. What About Bitcoin? AMD got a lot of attention last year after the company’s processors were heralded as a favorite among bitcoin miners. However, the company was caught up alongside the cryptocurrency’s wild swings as investors treated the firm as a bitcoin investment opportunity. While it’s true that AMD does benefit from cryptocurrency mining because its chips are popular among miners, it’s important to keep in mind that the bitcoin-related part of the firm’s growth story i s just a small piece of the pie . That’s a good thing for investors because although cryptocurrencies are certainly volatile, they also represent a good future growth opportunity. However, since AMD doesn’t have all of its hopes pinned on the cryptocurrency industry, it is a much safer way to play blockchain than other purer plays. AMD Stock Can Go Higher It’s hard to say how much higher AMD stock can climb, but I wouldn’t take profits in the firm just yet. The company looks likely to deliver strong results in the second half of the year, and beyond that I agree with Cowen. The firm will likely benefit from customers’ need to diversify their chip suppliers. Advanced Micro Devices Stock Is a Strong Buy After Earnings AMD’s latest offerings have made the firm a worthy competitor against both Intel and Nvidia which has given the stock an injection of well-deserved optimism. The company looks likely to prosper in the months ahead, and its days of being a second-best semiconductor company appear to be over. As of this writing, Laura Hoy did not hold a position in any of the aforementioned securities. More From InvestorPlace 15 Services Stocks to Buy for a Piece of U.S. Economic Growth 5 Marijuana Stocks to Watch 10 Dow Jones Stocks to Buy Before They Rally 7 Strong Buy Stocks With 30%+ Upside Potential Compare Brokers The post Don’t Take Profits in Advanced Micro Devices Stock Just Yet appeared first on InvestorPlace . \|\| Gossip Mag Claims Bill Cosby is Using Bitcoin to Hide His Fortune [Hes Probably Not]: bill cosby bitcoin An online gossip magazine claims to have insider information that disgraced actor Bill Cosby is using bitcoin to try to conceal what remains of his fortune from his creditors. Citing an unnamed insider, celebrity gossip site Radar Online alleges that Cosby, who was convicted earlier this year on three counts of sexual assault, has purchased approximately $5 million worth of bitcoin ahead of his sentencing date in late September. According to the publication, Cosby believes that by moving his assets into bitcoin, he will be able to shield his remaining fortune from his creditors, including his lawyers to whom he is said to owe millions in legal fees, as well as his wife if she pursues a divorce in the future. He moved close to $5 million in Bitcoin after an expert told him its practically untraceable and impossible for anyone but him to retrieve, the source said.The expert said it couldnt be taken in a divorce, bankruptcy or by the government in any liens! Radar, like most gossip magazines, pays sources for stories and does not subject claims to the same level of scrutiny as news outlets. Consequently, the publications claims should be taken with a heavy dose of skepticism, barring independent verification by a more reputable publication. On the off-chance its true, though, its not clear from whom Cosby is getting financial advice because this so-called expert is giving him some questionable information. While its accurate to say that bitcoin transactions are uncensorable, and depending on how they are stored resistant to government seizure, that does not mean that trading his physical dollars for digital gold will exempt him from his financial liabilities. For one thing, it would be virtually impossible for someone as high profile as Cosby to both quickly acquire $5 million worth of bitcoin and do so in a way that cannot be traced by blockchain analytics firms. Moreover, even if he could somehow arrange such an anonymous purchase it would not solve his problems because his financial statements would betray a $5 million hole that would exist whether he had held the funds in cash or exchanged them for physical gold, Amazon gift cards, or yes, even tulip bulbs. Even if his creditors could not prove where the assets were housed, his financial statements would likely be sufficient to prove that he was hiding assets, placing him at risk for both civil and criminal penalties. Featured Image from Shutterstock The post Gossip Mag Claims Bill Cosby is Using Bitcoin to Hide His Fortune [Hes Probably Not] appeared first on CCN . \|\| Gossip Mag Claims Bill Cosby is Using Bitcoin to Hide His Fortune [Hes Probably Not]: bill cosby bitcoin An online gossip magazine claims to have insider information that disgraced actor Bill Cosby is using bitcoin to try to conceal what remains of his fortune from his creditors. Citing an unnamed insider, celebrity gossip site Radar Online alleges that Cosby, who was convicted earlier this year on three counts of sexual assault, has purchased approximately $5 million worth of bitcoin ahead of his sentencing date in late September. According to the publication, Cosby believes that by moving his assets into bitcoin, he will be able to shield his remaining fortune from his creditors, including his lawyers to whom he is said to owe millions in legal fees, as well as his wife if she pursues a divorce in the future. He moved close to $5 million in Bitcoin after an expert told him its practically untraceable and impossible for anyone but him to retrieve, the source said.The expert said it couldnt be taken in a divorce, bankruptcy or by the government in any liens! Radar, like most gossip magazines, pays sources for stories and does not subject claims to the same level of scrutiny as news outlets. Consequently, the publications claims should be taken with a heavy dose of skepticism, barring independent verification by a more reputable publication. On the off-chance its true, though, its not clear from whom Cosby is getting financial advice because this so-called expert is giving him some questionable information. While its accurate to say that bitcoin transactions are uncensorable, and depending on how they are stored resistant to government seizure, that does not mean that trading his physical dollars for digital gold will exempt him from his financial liabilities. For one thing, it would be virtually impossible for someone as high profile as Cosby to both quickly acquire $5 million worth of bitcoin and do so in a way that cannot be traced by blockchain analytics firms. Moreover, even if he could somehow arrange such an anonymous purchase it would not solve his problems because his financial statements would betray a $5 million hole that would exist whether he had held the funds in cash or exchanged them for physical gold, Amazon gift cards, or yes, even tulip bulbs. Even if his creditors could not prove where the assets were housed, his financial statements would likely be sufficient to prove that he was hiding assets, placing him at risk for both civil and criminal penalties. Featured Image from Shutterstock The post Gossip Mag Claims Bill Cosby is Using Bitcoin to Hide His Fortune [Hes Probably Not] appeared first on CCN . \|\| Gossip Mag Claims Bill Cosby is Using Bitcoin to Hide His Fortune [Hes Probably Not]: bill cosby bitcoin An online gossip magazine claims to have insider information that disgraced actor Bill Cosby is using bitcoin to try to conceal what remains of his fortune from his creditors. Citing an unnamed insider, celebrity gossip site Radar Online alleges that Cosby, who was convicted earlier this year on three counts of sexual assault, has purchased approximately $5 million worth of bitcoin ahead of his sentencing date in late September. According to the publication, Cosby believes that by moving his assets into bitcoin, he will be able to shield his remaining fortune from his creditors, including his lawyers to whom he is said to owe millions in legal fees, as well as his wife if she pursues a divorce in the future. He moved close to $5 million in Bitcoin after an expert told him its practically untraceable and impossible for anyone but him to retrieve, the source said.The expert said it couldnt be taken in a divorce, bankruptcy or by the government in any liens! Radar, like most gossip magazines, pays sources for stories and does not subject claims to the same level of scrutiny as news outlets. Consequently, the publications claims should be taken with a heavy dose of skepticism, barring independent verification by a more reputable publication. On the off-chance its true, though, its not clear from whom Cosby is getting financial advice because this so-called expert is giving him some questionable information. While its accurate to say that bitcoin transactions are uncensorable, and depending on how they are stored resistant to government seizure, that does not mean that trading his physical dollars for digital gold will exempt him from his financial liabilities. For one thing, it would be virtually impossible for someone as high profile as Cosby to both quickly acquire $5 million worth of bitcoin and do so in a way that cannot be traced by blockchain analytics firms. Moreover, even if he could somehow arrange such an anonymous purchase it would not solve his problems because his financial statements would betray a $5 million hole that would exist whether he had held the funds in cash or exchanged them for physical gold, Amazon gift cards, or yes, even tulip bulbs. Even if his creditors could not prove where the assets were housed, his financial statements would likely be sufficient to prove that he was hiding assets, placing him at risk for both civil and criminal penalties. Featured Image from Shutterstock The post Gossip Mag Claims Bill Cosby is Using Bitcoin to Hide His Fortune [Hes Probably Not] appeared first on CCN . \|\| Cryptos Higher; Bank of America Applies for Blockchain Patent: The price of cryptos rose on Monday Investing.com - Bitcoin and other cryptocurrencies were higher on Monday as news that the U.S. Securities and Exchange Commission (SEC) will review the applications of Bitcoin exchange traded funds continued to bolster digital coins. Bitcoin rose 0.20% to $6,725.10 on the Bitfinex exchange, as of 8:17 AM ET (12:17 GMT). Cryptocurrencies overall were higher, with the coin market cap of total market capitalization at $217 billion at the time of writing, compared to $212 billion on Friday. Ethereum, the second-biggest alternative currency by market cap, rose 0.50% to $276.25 while XRP, the third-largest virtual currency, increased 1.41% to $0.32780 and Litecoin was at $57.509, up 0.62%. Virtual coins were bolstered on Friday after the SEC said it would review a decision to reject the applications of Bitcoin ETFs. Last week the SEC rejected the applications from nine companies to list their Bitcoin ETFs, citing concerns about fraud and manipulation of bitcoin markets. Meanwhile, Bank of America (NYSE:BAC) applied for a blockchain patent to secure the storage of cryptocurrency. The financial giant has filed 50 patents in relation to blockchain and digital currency. The Aug. 23 patent is described as an application that implements encryption and links data to certain blocks of blockchain as a form of data security. Bank of America is just one of a number of financial institutions that have filed patents related to cryptocurrency. While many bank executives have spoken out against Bitcoin and other coins, the companies have shown increasing interest in blockchain, the technology behind virtual currencies. Related Articles Baidu Joins China’s Crypto Blockade Traxion Offers Blockchain Solution to Philippine Farmers IOTA (MIOTA) Price Recovers as Trinity Desktop Beta Wallet Brought to Users \|\| Cryptos Higher; Bank of America Applies for Blockchain Patent: The price of cryptos rose on Monday Investing.com - Bitcoin and other cryptocurrencies were higher on Monday as news that the U.S. Securities and Exchange Commission (SEC) will review the applications of Bitcoin exchange traded funds continued to bolster digital coins. Bitcoin rose 0.20% to $6,725.10 on the Bitfinex exchange, as of 8:17 AM ET (12:17 GMT). Cryptocurrencies overall were higher, with the coin market cap of total market capitalization at $217 billion at the time of writing, compared to $212 billion on Friday. Ethereum, the second-biggest alternative currency by market cap, rose 0.50% to $276.25 while XRP, the third-largest virtual currency, increased 1.41% to $0.32780 and Litecoin was at $57.509, up 0.62%. Virtual coins were bolstered on Friday after the SEC said it would review a decision to reject the applications of Bitcoin ETFs. Last week the SEC rejected the applications from nine companies to list their Bitcoin ETFs, citing concerns about fraud and manipulation of bitcoin markets. Meanwhile, Bank of America (NYSE:BAC) applied for a blockchain patent to secure the storage of cryptocurrency. The financial giant has filed 50 patents in relation to blockchain and digital currency. The Aug. 23 patent is described as an application that implements encryption and links data to certain blocks of blockchain as a form of data security. Bank of America is just one of a number of financial institutions that have filed patents related to cryptocurrency. While many bank executives have spoken out against Bitcoin and other coins, the companies have shown increasing interest in blockchain, the technology behind virtual currencies. Related Articles Baidu Joins China’s Crypto Blockade Traxion Offers Blockchain Solution to Philippine Farmers IOTA (MIOTA) Price Recovers as Trinity Desktop Beta Wallet Brought to Users \|\| Is This Activision Blizzards Biggest Weakness?: On the surface, Activision Blizzard (NASDAQ: ATVI) has had a good year so far, with record revenue and earnings generated through the first half of 2018. But there's one metric that's coming up short: monthly active users (MAUs), which is the company's way of measuring its audience reach with its games. Over the last two years, the game maker's MAUs have fallen by 36%. That works out to 196 million users who are no longer playing Activision Blizzard's games, and this could hurt its ability to grow revenue over the long term unless this slide reverses. Let's look at recent trends causing this slide and what they mean for investors. Pair of video game console controllers laying on the floor with a TV displaying a game in the background. Image source: Getty Images. A steady decline Activision defines monthly active users as "the number of individuals who accessed a particular game in a given month." One of Activision's long-term goals is to build a big audience around its franchises. The more people who play its games, the more opportunities Activision has to make money from selling additional content updates, which players purchase within a game. In-game spending is a key source of revenue, accounting for 56% of Activision's annual revenue. The 36% decline in MAUs over the last few years is largely due to the King segment (mobile games), which has experienced a substantial loss of 204 million MAUs since the third quarter of 2015. Management attributes King's decline to less-engaged players leaving the base, which makes sense given that King's revenue grew 5% year over year in the second quarter. Clearly, if those were engaged players leaving the base -- the kind who regularly spend money on in-game content -- King likely wouldn't have grown its top line. Segment Monthly Active Users (millions) Activision 45 51 55 49 47 46 46 Blizzard 37 38 40 42 46 42 28 King 270 285 290 293 314 394 474 Total 352 374 385 384 407 482 548 Data source: Activision Blizzard. Story continues The Activision segment (which creates big console titles like Call of Duty and Destiny ) ended the second quarter with 45 million MAUs, which is fairly stable against the year-ago quarter's 47 million. Management reported that Call of Duty: WWII (2017) is experiencing higher MAUs over the previous version in the best-selling series. The most concerning trend is within the Blizzard segment (the maker of Overwatch ), which saw MAUs decline by 9 million over the past year to 37 million in the second quarter. Management attributed Blizzard's MAU decline to player losses in Heroes of the Storm and Overwatch . Overwatch 's weakness is disappointing. It's one of four franchises that make up two-thirds of the organization's annual revenue. The company's new esports league based on the game, Overwatch League, has been a big success, and Activision has been able to sell teams at steep prices while attracting big-brand sponsors . With the esports excitement surrounding the game, you would think it would be gaining players instead of losing them. Why are players leaving the base? The main culprit seems to be the surging popularity of battle royale games . One of these, Fortnite, has simply gone viral in the gaming community this year. On the popular Twitch game-streaming site, viewers spent an average of 131 million hours per month watching others play the game during the second quarter. In comparison, viewers spent an average of 28 million hours per month watching others play Overwatch . Fortnite has grown at a blistering pace, reaching 125 million registered players in less than a year since its launch. In comparison, it took Overwatch almost two years to reach 40 million registered players. When asked about the impact these battle royale games are having on Activision Blizzard's core franchises, CFO Spencer Neumann said, "I mentioned on our last call, and it continues to be the case, that we believe we're seeing some impact across certain franchises, primarily on engagement, including players that seem to be splitting some of their time between our games and trying something new." Is this a weakness? The MAU losses for King don't appear to be hurting that segment, given the 5% year-over-year growth in revenue for the Candy Crush maker in the most recent quarter. King has maintained stable quarterly revenue (over $500 million) and operating income (over $150 million) during the last year. But Blizzard's losses seem to have hurt that segment. Along with Blizzard's loss of 9 million users over the last year, segment revenue fell 13.6% year over year in the second quarter. Operating income was down 41% to $133 million, but some of the decline in profitability was due to increased operating expenses to get Overwatch League up and running. The Blizzard segment could get a boost in the third quarter from the new World of Warcraft: Battle for Azeroth expansion out this month -- it's already sold more than 3.4 million copies. Based on strong sales expectations for the Warcraft expansion, Call of Duty: Black Ops 4 , and other content to be released this fall, the company anticipates that total revenue will grow 4.8% this year to $7.355 billion, and that non- GAAP earnings per share will climb 11.3% to $2.46. Both targets, if achieved, would represent new highs for the company. But at some point, investors need to see stabilization in MAUs. Obviously, the company can't afford to bleed users forever, especially when Activision stock trades at a relatively high forward-earnings multiple of 29 times expected earnings for 2018. The multiple implies high growth expectations from esports, and continued high engagement with core (and possibly new) franchises. Until the decline in monthly active users reverses its trend, this is a weakness for Activision Blizzard which shareholders should monitor. More From The Motley Fool 3 Growth Stocks at Deep-Value Prices 5 Expected Social Security Changes in 2018 6 Years Later, 6 Charts That Show How Far Apple, Inc. Has Come Since Steve Jobs' Passing 10 Best Stocks to Buy Today The $16,122 Social Security Bonus You Cannot Afford to Miss Bitcoin's Biggest Competitor Isn't Ethereum -- It's This John Ballard owns shares of Activision Blizzard. The Motley Fool owns shares of and recommends Activision Blizzard. The Motley Fool has a disclosure policy . \|\| Is This Activision Blizzard’s Biggest Weakness?: On the surface,Activision Blizzard(NASDAQ: ATVI)has had a good year so far, with record revenue and earnings generated through the first half of 2018. But there's one metric that's coming up short: monthly active users (MAUs), which is the company's way of measuring its audience reach with its games. Over the last two years, the game maker's MAUs have fallen by 36%. That works out to 196 million users who are no longer playing Activision Blizzard's games, and this could hurt its ability to grow revenue over the long term unless this slide reverses. Let's look at recent trends causing this slide and what they mean for investors. Image source: Getty Images. Activision definesmonthly active usersas "the number of individuals who accessed a particular game in a given month." One of Activision's long-term goals is to build a big audience around its franchises. The more people who play its games, the more opportunities Activision has to make money from selling additional content updates, which players purchase within a game. In-game spending is a key source of revenue, accounting for 56% of Activision's annual revenue. The 36% decline in MAUs over the last few years is largely due to the King segment (mobile games), which has experienced a substantial loss of 204 million MAUs since the third quarter of 2015. Management attributes King's decline to less-engaged players leaving the base, which makes sense given that King's revenue grew 5% year over year in the second quarter. Clearly, if those were engaged players leaving the base -- the kind who regularly spend money on in-game content -- King likely wouldn't have grown its top line. [[], ["Activision", "45", "51", "55", "49", "47", "46", "46"], ["Blizzard", "37", "38", "40", "42", "46", "42", "28"], ["King", "270", "285", "290", "293", "314", "394", "474"], ["Total", "352", "374", "385", "384", "407", "482", "548"]] Data source: Activision Blizzard. The Activision segment (which creates big console titles likeCall of DutyandDestiny) ended the second quarter with 45 million MAUs, which is fairly stable against the year-ago quarter's 47 million. Management reported thatCall of Duty: WWII(2017) is experiencing higher MAUs over the previous version in the best-selling series. The most concerning trend is within the Blizzard segment (the maker ofOverwatch), which saw MAUs decline by 9 million over the past year to 37 million in the second quarter. Management attributed Blizzard's MAU decline to player losses inHeroes of the StormandOverwatch. Overwatch's weakness is disappointing. It'sone of four franchisesthat make up two-thirds of the organization's annual revenue. The company's new esports league based on the game,OverwatchLeague, has been a big success, and Activision has been able tosell teams at steep priceswhileattracting big-brand sponsors. With the esports excitement surrounding the game, you would think it would begainingplayers instead of losing them. The main culprit seems to be the surging popularity ofbattle royale games. One of these,Fortnite,has simply gone viral in the gaming community this year. On the popular Twitch game-streaming site, viewers spent an average of 131 million hours per month watching others play the game during the second quarter. In comparison, viewers spent an average of 28 million hours per month watching others playOverwatch. Fortnitehas grown at a blistering pace, reaching 125 million registered players in less than a year since its launch. In comparison, it tookOverwatchalmost two years to reach 40 million registered players. When asked about the impact these battle royale games are having on Activision Blizzard's core franchises, CFO Spencer Neumann said, "I mentioned on our last call, and it continues to be the case, that we believe we're seeing some impact across certain franchises, primarily on engagement, including players that seem to be splitting some of their time between our games and trying something new." The MAU losses for King don't appear to be hurting that segment, given the 5% year-over-year growth in revenue for theCandy Crushmaker in the most recent quarter. King has maintained stable quarterly revenue (over $500 million) and operating income (over $150 million) during the last year. But Blizzard's losses seem to have hurt that segment. Along with Blizzard's loss of 9 million users over the last year, segment revenue fell 13.6% year over year in the second quarter. Operating income was down 41% to $133 million, but some of the decline in profitability was due to increased operating expenses to getOverwatchLeague up and running. The Blizzard segment could get a boost in the third quarter from the newWorld of Warcraft: Battle for Azerothexpansion out this month -- it's already sold more than 3.4 million copies. Based on strong sales expectations for theWarcraftexpansion,Call of Duty: Black Ops 4, and other content to be released this fall, the company anticipates that total revenue will grow 4.8% this year to $7.355 billion, and that non-GAAPearnings per share will climb 11.3% to $2.46. Both targets, if achieved, would represent new highs for the company. But at some point, investors need to see stabilization in MAUs. Obviously, the company can't afford to bleed users forever, especially when Activision stock trades at a relatively high forward-earnings multiple of 29 times expected earnings for 2018. The multiple implies high growth expectations from esports, and continued high engagement with core (and possibly new) franchises. Until the decline in monthly active users reverses its trend, this is a weakness for Activision Blizzard which shareholders should monitor. More From The Motley Fool • 3 Growth Stocks at Deep-Value Prices • 5 Expected Social Security Changes in 2018 • 6 Years Later, 6 Charts That Show How Far Apple, Inc. Has Come Since Steve Jobs' Passing • 10 Best Stocks to Buy Today • The $16,122 Social Security Bonus You Cannot Afford to Miss • Bitcoin's Biggest Competitor Isn't Ethereum -- It's This John Ballardowns shares of Activision Blizzard. The Motley Fool owns shares of and recommends Activision Blizzard. The Motley Fool has adisclosure policy. \|\| Chinese bitcoin mining rig makers aim to raise billions in HK IPOs: By Alun John and Julie Zhu HONG KONG (Reuters) - (Reuters) Three of the world's largest bitcoin mining equipment makers plan to raise billions of dollars with initial public offerings in Hong Kong, even as other companies report plunging demand for the chips needed to make bitcoin. Soaring cryptocurrency prices last year triggered a boom in demand for specialist mining chips and in developing "mines" - facilities with thousands of machines that create the coins by solving complex mathematical puzzles. Yet the US chipmaker Nvidia Corp said this month that second-quarter sales to crypto miners totalled just US$18m, compared with US$100m expected by analysts. Nvidia's chief financial officer, Colette Kress, said she anticipated "no contribution" to revenues from cryptocurrency in coming months. That has raised concerns about the upcoming Hong Kong listings by three Chinese manufacturers of bitcoin mining equipment, Bitmain, Canaan Inc and Ebang International Holdings. The companies all design high-end computer chips intended for mining cryptocurrencies, particularly bitcoin, and sell mining equipment containing the chips. In addition, Bitmain mines cryptocurrencies on its own account. Companies like Nvidia also sell specialty chips used for mining. "The marked decline in the price of bitcoin since the start of the year is likely to weigh on investors' interest in these companies," said Benjamin Quinlan, chief executive of financial services consultancy Quinlan & Associates. But, he added, "the fall in the price of bitcoin from its peaks has not been matched by an equivalent fall in the numbers of people mining it." Bitcoin is currently trading at US$6,699, down 64% from its December 2017 peak of US$18,690. Daily mining revenue was 77% lower than in December, according to Blockchain.info, a data analytics and wallet provider. "As the bitcoin price decreases, so does the profitability of mining itself, which decreases demand for mining chips and miners," said Wang Leilei, a consultant at financial services consultancy Kapronasia. It is not just the price of bitcoin that is causing worries. People close to the IPOs said regulatory scrutiny and a patchy performance by Hong Kong offerings this year were additional concerns. Julian Hosp, president of TenX, a Singapore-based blockchain firm, has also warned that if coins switch mining algorithms, then the machines designed to mine them would become useless. "I would be quite wary of investing in these miners," Hosp said, referring to the equipment makers. "They are not long-term businesses and I think they've had their uptrend for now." READYING IPO SALES PITCHES Canaan and Ebang filed plans in May and June respectively for floats in Hong Kong, while Bitmain is expected to file its plans next month for an IPO in which it aims to raise at least US$3bn, sources close to the deal said. Cryptocurrency trading is a global activity, but Chinese chipmakers have led the way in developing the most efficient means to mine the coins. Bitmain had three quarters of the market for the specialist chips last year, followed by Canaan on 14%, according to estimates by analysts at Bernstein. Ebang is aiming to raise up to US$1bn, according to sources, while Canaan is targeting at least US$400m - down from a figure of up to US$2bn touted earlier this year by people involved in the deal. While Ebang is expected to face Hong Kong's listing committee in September, Canaan's offering is taking longer. Two sources familiar with Canaan's situation said the company had not yet fixed a date for a committee appearance, as it worked on clearing up questions from HKEX officials regarding due diligence done on its prospectus. A source close to Bitmain'S IPO said the company was aware about the potential for close regulatory scrutiny. Bitmain, Canaan and Ebang didn't respond to requests for comment. A Hong Kong exchange spokesman declined to comment. The bitcoin price slump is leading miners to consider their IPO sales pitches carefully, with many involved expecting them to push the potential of other uses for their chips. Both Canaan and Ebang highlight the potential for their technology to be applied to other cutting-edge sectors. That includes broader development of blockchain applications - the ledger system that underpins bitcoin and which is being widely explored by the financial industry - as well as artificial intelligence tools and the forthcoming build-out of 5G telecoms networks both within and outside China. "The mainland government encourages chip design and production, as that is a segment of China's market that has been suffering," said Kapronasia's Wang. "Bitmain and Canaan chips could also be used for non-bitcoin applications, like blockchain in general, big data, cybersecurity or AI, which is an advantage for the companies." (Reporting by Julie Zhu, Alun John, Fiona Lau of IFR, Clare Jim, Marius Zaharia, Timothy Chan and Holly Chik in HONG KONG; Additional reporting by Thomas Wilson in TOKYO and Elias Glenn in BEIJING; Editing by Jennifer Hughes and Philip McClellan) \|\| Chinese bitcoin mining rig makers aim to raise billions in HK IPOs: By Alun John and Julie Zhu HONG KONG (Reuters) - (Reuters) Three of the world's largest bitcoin mining equipment makers plan to raise billions of dollars with initial public offerings in Hong Kong, even as other companies report plunging demand for the chips needed to make bitcoin. Soaring cryptocurrency prices last year triggered a boom in demand for specialist mining chips and in developing "mines" - facilities with thousands of machines that create the coins by solving complex mathematical puzzles. Yet the US chipmaker Nvidia Corp said this month that second-quarter sales to crypto miners totalled just US$18m, compared with US$100m expected by analysts. Nvidia's chief financial officer, Colette Kress, said she anticipated "no contribution" to revenues from cryptocurrency in coming months. That has raised concerns about the upcoming Hong Kong listings by three Chinese manufacturers of bitcoin mining equipment, Bitmain, Canaan Inc and Ebang International Holdings. The companies all design high-end computer chips intended for mining cryptocurrencies, particularly bitcoin, and sell mining equipment containing the chips. In addition, Bitmain mines cryptocurrencies on its own account. Companies like Nvidia also sell specialty chips used for mining. "The marked decline in the price of bitcoin since the start of the year is likely to weigh on investors' interest in these companies," said Benjamin Quinlan, chief executive of financial services consultancy Quinlan & Associates. But, he added, "the fall in the price of bitcoin from its peaks has not been matched by an equivalent fall in the numbers of people mining it." Bitcoin is currently trading at US$6,699, down 64% from its December 2017 peak of US$18,690. Daily mining revenue was 77% lower than in December, according to Blockchain.info, a data analytics and wallet provider. "As the bitcoin price decreases, so does the profitability of mining itself, which decreases demand for mining chips and miners," said Wang Leilei, a consultant at financial services consultancy Kapronasia. It is not just the price of bitcoin that is causing worries. People close to the IPOs said regulatory scrutiny and a patchy performance by Hong Kong offerings this year were additional concerns. Julian Hosp, president of TenX, a Singapore-based blockchain firm, has also warned that if coins switch mining algorithms, then the machines designed to mine them would become useless. "I would be quite wary of investing in these miners," Hosp said, referring to the equipment makers. "They are not long-term businesses and I think they've had their uptrend for now." READYING IPO SALES PITCHES Canaan and Ebang filed plans in May and June respectively for floats in Hong Kong, while Bitmain is expected to file its plans next month for an IPO in which it aims to raise at least US$3bn, sources close to the deal said. Cryptocurrency trading is a global activity, but Chinese chipmakers have led the way in developing the most efficient means to mine the coins. Bitmain had three quarters of the market for the specialist chips last year, followed by Canaan on 14%, according to estimates by analysts at Bernstein. Ebang is aiming to raise up to US$1bn, according to sources, while Canaan is targeting at least US$400m - down from a figure of up to US$2bn touted earlier this year by people involved in the deal. While Ebang is expected to face Hong Kong's listing committee in September, Canaan's offering is taking longer. Two sources familiar with Canaan's situation said the company had not yet fixed a date for a committee appearance, as it worked on clearing up questions from HKEX officials regarding due diligence done on its prospectus. A source close to Bitmain'S IPO said the company was aware about the potential for close regulatory scrutiny. Bitmain, Canaan and Ebang didn't respond to requests for comment. A Hong Kong exchange spokesman declined to comment. The bitcoin price slump is leading miners to consider their IPO sales pitches carefully, with many involved expecting them to push the potential of other uses for their chips. Both Canaan and Ebang highlight the potential for their technology to be applied to other cutting-edge sectors. That includes broader development of blockchain applications - the ledger system that underpins bitcoin and which is being widely explored by the financial industry - as well as artificial intelligence tools and the forthcoming build-out of 5G telecoms networks both within and outside China. "The mainland government encourages chip design and production, as that is a segment of China's market that has been suffering," said Kapronasia's Wang. "Bitmain and Canaan chips could also be used for non-bitcoin applications, like blockchain in general, big data, cybersecurity or AI, which is an advantage for the companies." (Reporting by Julie Zhu, Alun John, Fiona Lau of IFR, Clare Jim, Marius Zaharia, Timothy Chan and Holly Chik in HONG KONG; Additional reporting by Thomas Wilson in TOKYO and Elias Glenn in BEIJING; Editing by Jennifer Hughes and Philip McClellan) \|\| If You Like ONEOK, Inc.'s Dividend, You Should Love Williams Companies' Payout: At first glance, pipeline giant ONEOK (NYSE: OKE) appears to offer income-seeking investors a superior opportunity when compared to fellow pipeline giant Williams Companies (NYSE: WMB) . Not only does ONEOK have a higher yield -- 4.9% versus 4.5% for Williams -- but it expects to increase its payout at a 9% to 11% annual pace through 2021 while Williams' current forecast is that it will boost its dividend 10% to 15% in 2019. However, when we drill down a bit deeper, we find one metric that puts Williams Companies' dividend ahead of ONEOK's for investors seeking a lower-risk payout. A look at ONEOK's dividend ONEOK currently expects to generate between $1.675 billion to $1.805 billion in distributable cash flow this year, which is money it could pay out in dividends. That's enough cash to cover the company's high-yielding dividend with plenty of room to spare. So far this year, ONEOK has generated more than $240 million in excess cash after paying its dividend, even though it has increased the payout 11% from last year's rate. That equates to a dividend coverage ratio of about 1.38 times, which is very healthy for a pipeline company. $100 bills with the word dividend on top. Image source: Getty Images. ONEOK is using its excess cash, plus money it raised earlier this year by selling stock, to bolster its balance sheet as well as finance high-return growth projects. Overall, the company has more than $4 billion of expansions under construction, which should come online through the end of 2020. ONEOK believes that these growth projects should provide enough cash flow to grow its dividend at a 9% to 11% annual pace through 2021 even as it maintains a greater than 1.2 times dividend coverage ratio and conservative leverage metrics, including a debt-to- EBITDA ratio of less than 4.0 times. That combination of a high yield, a high growth rate, and a strong financial profile puts ONEOK in a class of its own . A look at Williams Companies' dividend Williams Companies also generates gobs of cash, with the pipeline giant on track to produce $2.6 billion to $2.9 billion in distributable cash flow this year. At the midpoint, that's enough money to cover its high-yielding payout by an even more comfortable 1.6 times. That coverage ratio is worth pointing out since it implies that Williams has the potential to offer an even higher-yielding dividend. If the company were to match its coverage level to ONEOK's by increasing the percentage of cash flow it pays out, William's yield would increase to 5.1%. Story continues Williams, meanwhile, expects to invest about $3.9 billion into expanding its portfolio of pipeline assets this year and another $2.6 billion in 2019. This investment should boost Williams' distributable cash flow to between $2.9 billion-$3.3 billion next year, which should support a 10% to 15% dividend increase even as the coverage ratio climbs to around 1.7 times. Furthermore, Williams expects its leverage ratio to fall from 5.0 times in 2018 to less than 4.75 times next year. While Williams hasn't yet announced a dividend growth forecast beyond 2019, the company should have no problem increasing its payout at a fast pace in the coming years due to the volume of expansion projects it has in development. The company noted at its analyst day earlier this year that in addition to the $7.3 billion of projects already under construction that it had another $5 billion that it was close to sanctioning, which were part of the more than $20 billion of future opportunities it has identified. Because of that, the company believes it's well positioned to invest between $2.5 billion to $3 billion per year in expanding its pipeline portfolio. That investment rate should be enough to support double-digit annual dividend growth even as the company maintains a strong coverage ratio of more than 1.5 times and continues pushing down its leverage ratio. Digging deeper uncovers a better option ONEOK currently offers a slightly higher yield and greater visibility into future dividend growth than Williams, which is why many income investors would probably prefer to invest in that pipeline giant. However, digging deeper, we find that Williams gives investors a safer payout since it has a higher coverage ratio. As a result, the company can retain more cash flow to invest in expansion projects that will drive future growth. That more conservative coverage ratio and funding profile are things that risk-averse investors love to see in income stocks. More From The Motley Fool 3 Growth Stocks at Deep-Value Prices 5 Expected Social Security Changes in 2018 6 Years Later, 6 Charts That Show How Far Apple, Inc. Has Come Since Steve Jobs' Passing 10 Best Stocks to Buy Today The $16,122 Social Security Bonus You Cannot Afford to Miss Bitcoin's Biggest Competitor Isn't Ethereum -- It's This Matthew DiLallo has no position in any of the stocks mentioned. The Motley Fool recommends ONEOK. The Motley Fool has a disclosure policy . \|\| If You Like ONEOK, Inc.'s Dividend, You Should Love Williams Companies' Payout: At first glance, pipeline giantONEOK(NYSE: OKE)appears to offer income-seeking investors a superior opportunity when compared to fellow pipeline giantWilliams Companies(NYSE: WMB). Not only does ONEOK have a higher yield -- 4.9% versus 4.5% for Williams -- but it expects to increase its payout at a 9% to 11% annual pace through 2021 while Williams' current forecast is that it will boost its dividend 10% to 15% in 2019. However, when we drill down a bit deeper, we find one metric that puts Williams Companies' dividend ahead of ONEOK's for investors seeking a lower-risk payout. ONEOK currently expects to generate between $1.675 billion to $1.805 billion in distributable cash flow this year, which is money it could pay out in dividends. That's enough cash to cover the company's high-yielding dividend with plenty of room to spare. So far this year, ONEOK has generated more than $240 million in excess cash after paying its dividend, even though it has increased the payout 11% from last year's rate. That equates to a dividend coverage ratio of about 1.38 times, which is very healthy for a pipeline company. Image source: Getty Images. ONEOK is using its excess cash, plus money it raised earlier this year by selling stock, to bolster its balance sheet as well as finance high-return growth projects. Overall, the company has more than $4 billion of expansions under construction, which should come online through the end of 2020. ONEOK believes that these growth projects should provide enough cash flow to grow its dividend at a 9% to 11% annual pace through 2021 even as it maintains a greater than 1.2 times dividend coverage ratio and conservative leverage metrics, including a debt-to-EBITDAratio of less than 4.0 times. That combination of a high yield, a high growth rate, and a strong financial profileputs ONEOK in a class of its own. Williams Companies also generates gobs of cash, with the pipeline giant on track to produce $2.6 billion to $2.9 billion in distributable cash flow this year. At the midpoint, that's enough money to cover its high-yielding payout by an even more comfortable 1.6 times. That coverage ratio is worth pointing out since it implies that Williams has the potential to offer an even higher-yielding dividend. If the company were to match its coverage level to ONEOK's by increasing the percentage of cash flow it pays out, William's yield would increase to 5.1%. Williams, meanwhile, expects to invest about $3.9 billion into expanding its portfolio of pipeline assets this year and another $2.6 billion in 2019. This investment should boost Williams' distributable cash flow to between $2.9 billion-$3.3 billion next year, which should support a 10% to 15% dividend increase even as the coverage ratio climbs to around 1.7 times. Furthermore, Williams expects its leverage ratio to fall from 5.0 times in 2018 to less than 4.75 times next year. While Williams hasn't yet announced a dividend growth forecast beyond 2019, the company should have no problem increasing its payout at a fast pace in the coming years due to the volume of expansion projects it has in development. The company noted at its analyst day earlier this year that in addition to the $7.3 billion of projects already under construction that it had another $5 billion that it was close to sanctioning, which were part of the more than $20 billion of future opportunities it has identified. Because of that, the company believes it's well positioned to invest between $2.5 billion to $3 billion per year in expanding its pipeline portfolio. That investment rate should be enough to support double-digit annual dividend growth even as the company maintains a strong coverage ratio of more than 1.5 times and continues pushing down its leverage ratio. ONEOK currently offers a slightly higher yield and greater visibility into future dividend growth than Williams, which is why many income investors would probably prefer to invest in that pipeline giant. However, digging deeper, we find that Williams gives investors a safer payout since it has a higher coverage ratio. As a result, the company can retain more cash flow to invest in expansion projects that will drive future growth. That more conservative coverage ratio and funding profile are things that risk-averse investors love to see in income stocks. More From The Motley Fool • 3 Growth Stocks at Deep-Value Prices • 5 Expected Social Security Changes in 2018 • 6 Years Later, 6 Charts That Show How Far Apple, Inc. Has Come Since Steve Jobs' Passing • 10 Best Stocks to Buy Today • The $16,122 Social Security Bonus You Cannot Afford to Miss • Bitcoin's Biggest Competitor Isn't Ethereum -- It's This Matthew DiLallohas no position in any of the stocks mentioned. The Motley Fool recommends ONEOK. The Motley Fool has adisclosure policy. \|\| Japanese Bitcoin Mining Firm GMO Stops Mining Bitcoin Cash: Japan bitcoin mining GMO Internet, a leading Japanese bitcoin mining firm, has informed investors that it has stopped mining bitcoin cash, documents purportedly distributed by the company show. Those documents, made public by “The Bitcoin Knowledge Podcast” host Trace Mayer, indicate that the Tokyo-based GMO mined 0 BCH in July, down from a high of 287 in February. Why would GMO Internet switch all mining capacity to $BTC from $BCH ? Only ~$37,867 for one hour 51% $BCH attack? Does DARI ratio account for block maturation times? Nov fork? What could possibly happen with this $9B testnet? Sure is fun to watch! 😂 💩 https://t.co/2P55FNxK23 pic.twitter.com/hZLx2hDUk6 — Trace Mayer (@TraceMayer) August 24, 2018 However, it’s possible GMO will resume mining BCH if its profitability increases in the future. The firm’s bitcoin cash mining operation has been highly-sporadic, and it also mined 0 BCH in April before mining 37 and 62 BCH over the next two months. GMO’s bitcoin mining operation, however, has been characterized by a steady increase in BTC revenue. In July, GMO mined 568 BTC — worth $3.8 million at the present exchange rate — up from 528 the month prior and just 21 in Dec. 2017. Earlier this year, GMO said that it hoped to scale its mining operation to 3,000PH/s by December. However, that now seems unlikely, as declining cryptocurrency profits have squeezed miner profit margins and reduced the incentive to invest in new hashpower. Indeed, GMO mined with 384PH/s in July, which made it the first month this year that it did not bring new devices online. Story continues In June, GMO unveiled the B2, first bitcoin mining chip wholly-developed by a Japanese company. The device, which also featured the world’s first 7nm chip, quickly sold out. GMO is now accepting preorders for the B3, which the firm claims can achieve a hashpower as high as 33TH/s, compared to the 14TH/s offered by the Antminer S9, Bitmain’s flagship mining rig. Bitmain, as CCN reported , is currently planning the cryptocurrency industry’s largest-ever initial public offering (IPO). However, the China-based firm, which once had a market share as large as 85 percent, is facing increasing competition from GMO and others, leading market research firm Sanford C. Bernstein & Co. to speculate in a recent report that the ASIC designer has lost its competitive edge. “I respect Bitmain,” GMO CEO Masatoshi Kumagi said in June, perhaps presciently, “but we will top them.” Featured Image from Shutterstock The post Japanese Bitcoin Mining Firm GMO Stops Mining Bitcoin Cash appeared first on CCN . \|\| Japanese Bitcoin Mining Firm GMO Stops Mining Bitcoin Cash: Japan bitcoin mining GMO Internet, a leading Japanese bitcoin mining firm, has informed investors that it has stopped mining bitcoin cash, documents purportedly distributed by the company show. Those documents, made public by “The Bitcoin Knowledge Podcast” host Trace Mayer, indicate that the Tokyo-based GMO mined 0 BCH in July, down from a high of 287 in February. Why would GMO Internet switch all mining capacity to $BTC from $BCH ? Only ~$37,867 for one hour 51% $BCH attack? Does DARI ratio account for block maturation times? Nov fork? What could possibly happen with this $9B testnet? Sure is fun to watch! 😂 💩 https://t.co/2P55FNxK23 pic.twitter.com/hZLx2hDUk6 — Trace Mayer (@TraceMayer) August 24, 2018 However, it’s possible GMO will resume mining BCH if its profitability increases in the future. The firm’s bitcoin cash mining operation has been highly-sporadic, and it also mined 0 BCH in April before mining 37 and 62 BCH over the next two months. GMO’s bitcoin mining operation, however, has been characterized by a steady increase in BTC revenue. In July, GMO mined 568 BTC — worth $3.8 million at the present exchange rate — up from 528 the month prior and just 21 in Dec. 2017. Earlier this year, GMO said that it hoped to scale its mining operation to 3,000PH/s by December. However, that now seems unlikely, as declining cryptocurrency profits have squeezed miner profit margins and reduced the incentive to invest in new hashpower. Indeed, GMO mined with 384PH/s in July, which made it the first month this year that it did not bring new devices online. Story continues In June, GMO unveiled the B2, first bitcoin mining chip wholly-developed by a Japanese company. The device, which also featured the world’s first 7nm chip, quickly sold out. GMO is now accepting preorders for the B3, which the firm claims can achieve a hashpower as high as 33TH/s, compared to the 14TH/s offered by the Antminer S9, Bitmain’s flagship mining rig. Bitmain, as CCN reported , is currently planning the cryptocurrency industry’s largest-ever initial public offering (IPO). However, the China-based firm, which once had a market share as large as 85 percent, is facing increasing competition from GMO and others, leading market research firm Sanford C. Bernstein & Co. to speculate in a recent report that the ASIC designer has lost its competitive edge. “I respect Bitmain,” GMO CEO Masatoshi Kumagi said in June, perhaps presciently, “but we will top them.” Featured Image from Shutterstock The post Japanese Bitcoin Mining Firm GMO Stops Mining Bitcoin Cash appeared first on CCN . \|\| Japanese Bitcoin Mining Firm GMO Stops Mining Bitcoin Cash: Japan bitcoin mining GMO Internet, a leading Japanese bitcoin mining firm, has informed investors that it has stopped mining bitcoin cash, documents purportedly distributed by the company show. Those documents, made public by “The Bitcoin Knowledge Podcast” host Trace Mayer, indicate that the Tokyo-based GMO mined 0 BCH in July, down from a high of 287 in February. Why would GMO Internet switch all mining capacity to $BTC from $BCH ? Only ~$37,867 for one hour 51% $BCH attack? Does DARI ratio account for block maturation times? Nov fork? What could possibly happen with this $9B testnet? Sure is fun to watch! 😂 💩 https://t.co/2P55FNxK23 pic.twitter.com/hZLx2hDUk6 — Trace Mayer (@TraceMayer) August 24, 2018 However, it’s possible GMO will resume mining BCH if its profitability increases in the future. The firm’s bitcoin cash mining operation has been highly-sporadic, and it also mined 0 BCH in April before mining 37 and 62 BCH over the next two months. GMO’s bitcoin mining operation, however, has been characterized by a steady increase in BTC revenue. In July, GMO mined 568 BTC — worth $3.8 million at the present exchange rate — up from 528 the month prior and just 21 in Dec. 2017. Earlier this year, GMO said that it hoped to scale its mining operation to 3,000PH/s by December. However, that now seems unlikely, as declining cryptocurrency profits have squeezed miner profit margins and reduced the incentive to invest in new hashpower. Indeed, GMO mined with 384PH/s in July, which made it the first month this year that it did not bring new devices online. Story continues In June, GMO unveiled the B2, first bitcoin mining chip wholly-developed by a Japanese company. The device, which also featured the world’s first 7nm chip, quickly sold out. GMO is now accepting preorders for the B3, which the firm claims can achieve a hashpower as high as 33TH/s, compared to the 14TH/s offered by the Antminer S9, Bitmain’s flagship mining rig. Bitmain, as CCN reported , is currently planning the cryptocurrency industry’s largest-ever initial public offering (IPO). However, the China-based firm, which once had a market share as large as 85 percent, is facing increasing competition from GMO and others, leading market research firm Sanford C. Bernstein & Co. to speculate in a recent report that the ASIC designer has lost its competitive edge. “I respect Bitmain,” GMO CEO Masatoshi Kumagi said in June, perhaps presciently, “but we will top them.” Featured Image from Shutterstock The post Japanese Bitcoin Mining Firm GMO Stops Mining Bitcoin Cash appeared first on CCN . \|\| The next bitcoin gold rush is brewing — and it's in the last place you might expect: Whether you're riding the bitcoin wave or feel you missed out on the gold rush, blockchain evangelists say not to fear; there's an even bigger investment opportunity around the corner. In CNBC's new original documentary, "Bitcoin: Boom or Bust," anchor Melissa Lee transports viewers to one of those emerging markets: South Africa. During an eye-opening journey, Ran NeuNer (blockchain investor and host of "Crypto Trader" on CNBC Africa) takes Lee on a tour of one of the nation's poorest townships, Khayelitsha, South Africa, where he explains why it could be the true epicentre for the cryptocurrency revolution — not to mention the next potential gold mine for institutional and amateur investors alike. But it's an unusual encounter with an Uber driver that paints the most vivid use case for digital currency's future. "Bitcoin: Boom or Bust" premieres on CNBC on Monday, August 27 th 6 pm ET/ 3 pm PT. Like this story?Subscribe to CNBC Make It on YouTube! Don't miss:Warren Buffett explains one thing people still don't understand about bitcoin This story has been revised and updated. More From CNBC • These East Asian cities are leading the way for entrepreneurs • Crypto millionaire who lives in a tree says bitcoin is just getting started • I shopped for a $260,000 Patek Philippe and compared a $60 knock-off \|\| Top Cryptographers: Without Privacy, Cryptocurrencies Will Never Gain Critical Adoption: HONG KONG, CHINA / ACCESSWIRE / August 27, 2018 / Dr. Duncan S. Wong, the co-inventor of the cryptographic primitive known as "Linkable Ring Signature" that powers the world's 10 th largest cryptocurrency Monero, said on Wednesday that the matter of privacy for enterprises from considering the adoption of cryptocurrencies and blockchain technologies is like a double-edged sword. "You can't really imagine big banks using cryptocurrencies if it is possible to easily trace all of their transactions, as we can do with Bitcoin today", he said. "But at the same time privacy tokens also won't be able to achieve widespread adoption, because authorities such as tax bureaus still demand to have some insight into them." He was speaking after a summit in Malaysia announcing his "Accountable Privacy" initiative - Abelian. The aim of this initiative is to create a public blockchain where the transaction record is visible and tracible by regulatory authorities, while still preserving privacy in-between users and towards the general public. Wong's comment on the importance of privacy were the latest to highlight the adoption problem in the cryptocurrency space. Earlier this month, Ethereum's Vitalik Buterin said, "there is still a way to go" in terms of preserving privacy on blockchain, pointing out that "currently, there are no good ways to use blockchain while preserving privacy." The "Accountable Privacy" initiative is a collaborative effort between research institutes of Nanyang Technological University (NTU) of Singapore, Shanghai Jiao Tong University (SJTU) of China, and University of Wollongong (UoW) of Australia, and can be seen as a challenge to Buterin's statement. The development is handled by Hong Kong based blockchain development firm CryptoBLK, which is well-known for its previous development work for HSBC and ING. So called privacy cryptocurrencies make use of cryptography, that is mathematics, to hide information such as a payment's source, size, and destination from the public. Achieving privacy may be crucial in promoting widespread adoption of cryptocurrencies, yet leading privacy cryptocurrencies such as Monero, ZCash, and Dash have long been criticized for their potential use in supporting the illegal trading of firearms, drugs, and pornography. Story continues "Somehow privacy in the cryptocurrency space carries negative connotation. But think about this - what I buy in a supermarket may not be a secret, but do I necessarily want everyone to know? Probably not," said Wong. "Privacy of our transaction history is indeed a very basic request." "The challenge is to enable and abide by regulations, such as KYC and AML policies, while maintaining the privacy of users. This can be done by introducing a cryptographic primitive called verifiable encryption into the cryptocurrency", Wong continued. "If we can balance the need for privacy versus accountability, it solves a lot of concerns from enterprises. They could in turn promote the technology to more people." Dr. Wong was the inventor of Linkable Ring Signature, a defining technology for Monero, the most popular privacy token to date. The concept of Linkable Ring Signature allows a transaction initiator to sign-off on a transaction, and then mix his signature with the signatures of other users, effectively hiding the initiator of the transaction. It remains to be seen if Dr. Wong can repeat the success of Monero, and successfully challenge Vitalik Buterin's statement, but the Accountable Privacy initiative certainly seems to be off to a flying start. Contact Email: [email protected] SOURCE: Dr. Duncan S. Wong \|\| Top Cryptographers: Without Privacy, Cryptocurrencies Will Never Gain Critical Adoption: HONG KONG, CHINA / ACCESSWIRE / August 27, 2018 / Dr. Duncan S. Wong, the co-inventor of the cryptographic primitive known as "Linkable Ring Signature" that powers the world's 10 th largest cryptocurrency Monero, said on Wednesday that the matter of privacy for enterprises from considering the adoption of cryptocurrencies and blockchain technologies is like a double-edged sword. "You can't really imagine big banks using cryptocurrencies if it is possible to easily trace all of their transactions, as we can do with Bitcoin today", he said. "But at the same time privacy tokens also won't be able to achieve widespread adoption, because authorities such as tax bureaus still demand to have some insight into them." He was speaking after a summit in Malaysia announcing his "Accountable Privacy" initiative - Abelian. The aim of this initiative is to create a public blockchain where the transaction record is visible and tracible by regulatory authorities, while still preserving privacy in-between users and towards the general public. Wong's comment on the importance of privacy were the latest to highlight the adoption problem in the cryptocurrency space. Earlier this month, Ethereum's Vitalik Buterin said, "there is still a way to go" in terms of preserving privacy on blockchain, pointing out that "currently, there are no good ways to use blockchain while preserving privacy." The "Accountable Privacy" initiative is a collaborative effort between research institutes of Nanyang Technological University (NTU) of Singapore, Shanghai Jiao Tong University (SJTU) of China, and University of Wollongong (UoW) of Australia, and can be seen as a challenge to Buterin's statement. The development is handled by Hong Kong based blockchain development firm CryptoBLK, which is well-known for its previous development work for HSBC and ING. So called privacy cryptocurrencies make use of cryptography, that is mathematics, to hide information such as a payment's source, size, and destination from the public. Achieving privacy may be crucial in promoting widespread adoption of cryptocurrencies, yet leading privacy cryptocurrencies such as Monero, ZCash, and Dash have long been criticized for their potential use in supporting the illegal trading of firearms, drugs, and pornography. Story continues "Somehow privacy in the cryptocurrency space carries negative connotation. But think about this - what I buy in a supermarket may not be a secret, but do I necessarily want everyone to know? Probably not," said Wong. "Privacy of our transaction history is indeed a very basic request." "The challenge is to enable and abide by regulations, such as KYC and AML policies, while maintaining the privacy of users. This can be done by introducing a cryptographic primitive called verifiable encryption into the cryptocurrency", Wong continued. "If we can balance the need for privacy versus accountability, it solves a lot of concerns from enterprises. They could in turn promote the technology to more people." Dr. Wong was the inventor of Linkable Ring Signature, a defining technology for Monero, the most popular privacy token to date. The concept of Linkable Ring Signature allows a transaction initiator to sign-off on a transaction, and then mix his signature with the signatures of other users, effectively hiding the initiator of the transaction. It remains to be seen if Dr. Wong can repeat the success of Monero, and successfully challenge Vitalik Buterin's statement, but the Accountable Privacy initiative certainly seems to be off to a flying start. Contact Email: [email protected] SOURCE: Dr. Duncan S. Wong \|\| North Korea to Host its First-Ever International Crypto Conference: Report: North Korea Bitcoin Youbit Sanctions-hit North Korea is planning to host its first-ever international conference focusing on cryptocurrencies and blockchain technology in October. According to Radio Free Asia, the event will be held in the hermit kingdoms capital of Pyongyang and will stretch for two days beginning October 1. Per various reports, the conference is expected to attract blockchain and cryptocurrency experts from all over the world. No information was provided on how this is expected to be pulled off given that the country has an underdeveloped conference tourism industry and the fact that some countries such as the United States have banned their citizens from traveling to North Korea except in special circumstances. The event is scheduled to conclude with a meet-and-greet with the business leaders of North Korea. Sources told Radio Free Asia that the goal behind hosting the conference was to demonstrate the technological capabilities of the Asian country. Creative Solutions This comes at a time when a report compiled by Korea Development Bank, a state-run financial institution in South Korea, has claimed that evidence had emerged of a small-scale cryptocurrency mining operation being run by the North Korean regime last year between May and July. However, according to Yonhap News Agency, the initiative is said to have failed though the reasons were not provided. The Korea Development Bank report seems to confirm conclusions drawn earlier that the hermit kingdom could be eyeing cryptocurrencies as a way of evading sanctions imposed on the country or as a way of financing the regime of King Jong-un, the countrys ruler. Going Rogue In February this year, CCN reported that South Korean intelligence officials had told the countrys parliament that North Korean state-sponsored hackers had stolen billions of won in cryptocurrency last year by hacking exchanges. During a briefing a member of the countrys parliamentary intelligence committee, Kim Byung-kee, alluded to the fact that the hackers obtained the private information of cryptocurrency exchanges as well as the private information of their clients through phishing. North Korea sent emails that could hack into cryptocurrency exchanges and their customers private information and stole (cryptocurrency) worth billions of won, Byung-kee disclosed at the time. Known Bad Actor This was not entirely a new development. In September last year, for instance, cybersecurity company FireEye had warned that state-sponsored hackers from North Korea had targeted cryptocurrency exchanges in South Korea with a view of stealing bitcoin as well as other digital assets. As CCN reported then, these efforts were aimed at evading sanctions as well as obtaining funds meant to sponsor the regime. And just as the intelligence agency of South Korea had pointed out, the FireEye report indicated that the attacks on the exchanges had been preceded by spear-phishing campaigns. Story continues Featured image from Shutterstock. The post North Korea to Host its First-Ever International Crypto Conference: Report appeared first on CCN . View comments \|\| Upside Calling? Bearish Bets on Bitcoin Futures Hit Record Low: The bearish sentiment in the bitcoin (BTC) futures market hit a record low last week, indicating that the worst of the leading cryptocurrency's price plunge is in the past. The non-commercial futures contracts of bitcoin, traded by large speculators and hedge funds, totaled a net position of -1266 contracts in the week ended Aug. 21 â the lowest on record, according to the data released by the Commodity Futures Trading Commission (CFTC) on Friday. The futures data indicates that the speculators are the least bearish on BTC since the futures were first listed back in December. With Nearly $200 Million on the Line, EOS Is Building A Voting System A negative total represents net short positions (bearish bets) and a positive tally indicates net long positions (bullish bets). The sharp drop in the bearish sentiment, as represented by the steady decline in the net short positions from the high of -1945 seen ten weeks ago to -1266, adds credence to the signs of bearish exhaustion indicated by BTC's defense of $6,000 since mid-June. At press time, BTC is changing hands at $6,715 on Bitfinex. Weekly chart Crypto Isn't Just Money - It's a Defense Against Discrimination As seen in the above chart, BTC printed lows below $6,000 three times in the last ten weeks, but the drop was short-lived, that is, all three weekly candles closed (Sunday's close as per UTC) above the psychological mark. So, it seems safe to say that for BTC, the path of least resistance is on the higher side. The short-term technical charts are also echoing similar sentiments. Daily chart The upward sloping 5-day and 10-day moving averages (MAs) indicate a short-term bullish setup. Further, the 50-day MA is about the cross the 100-day MA in a bull-friendly manner. 4-hour chart The ascending trendline and the rising 50-candle MA and 100-candle MA favor a move higher toward $7,000. That said, BTC's inability to cross the psychological hurdle of $6,800 over the weekend is a slight cause for concern. However, only a break below the channel support, currently seen at $6,600, would abort the short-term bullish view. Story continues View The bearish net positions in the bitcoin futures markets hit a record low last week, validating the argument put forward by the technical charts that the cryptocurrency has likely bottomed out around $6,000. A break above $6,800 (psychological resistance) would bolster the already bullish technical setup and would open the doors to $7,000. A move below the ascending trendline seen in the 4-hour chart would weaken the bullish case and could yield a drop to $6,230 (Aug. 20 low). Disclosure: Â The author holds no cryptocurrency assetsÂ at the time of writing. Bitcoin Â imageÂ via Shutterstock; Charts byÂ Trading View Related Stories The Weirdest Prediction Markets on Augur Right Now Bitcoin Price Could End Day With Tightest Trading Range of 2018 [Social Media Buzz] 1H 2018/08/28 16:00 (2018/08/28 15:00) LONG : 28477.41 BTC (-107.74 BTC) SHORT : 33080.35 BTC (-581.49 BTC) LS比 : 46% vs 53% (45% vs 54%) \|\| 1H 2018/08/28 18:00 (2018/08/28 16:59) LONG : 28447.72 BTC (-44.9 BTC) SHORT : 33103.49 BTC (+71.2 BTC) LS比 : 46% vs 53% (46% vs 53%) \|\| #BTCUSD hits 2nd BUY target! TP2 @ 7075.00 is touched just now with 95692 pip #profit! #Business #Money #Investing #Investment #Bitcoin #IOT #BlockChain #Trading #USD #BTC #CryptoCurrency #Crypto #Dash #Icon #ETH #C...	7047.16, 6978.23, 7037.58, 7193.25, 7272.72, 7260.06, 7361.66, 6792.83, 6529.17, 6467.07
Given the historical Bitcoin prices from the last 90 days, predict the next 10 daily closing prices. The historical prices are: 30825.70, 33005.76, 32067.64, 32289.38, 32366.39, 32569.85, 30432.55, 33466.10, 34316.39, 34269.52, 33114.36, 33537.18, 35510.29, 37472.09, 36926.07, 38144.31, 39266.01, 38903.44, 46196.46, 46481.11, 44918.18, 47909.33, 47504.85, 47105.52, 48717.29, 47945.06, 49199.87, 52149.01, 51679.80, 55888.13, 56099.52, 57539.95, 54207.32, 48824.43, 49705.33, 47093.85, 46339.76, 46188.45, 45137.77, 49631.24, 48378.99, 50538.24, 48561.17, 48927.30, 48912.38, 51206.69, 52246.52, 54824.12, 56008.55, 57805.12, 57332.09, 61243.09, 59302.32, 55907.20, 56804.90, 58870.89, 57858.92, 58346.65, 58313.64, 57523.42, 54529.14, 54738.95, 52774.27, 51704.16, 55137.31, 55973.51, 55950.75, 57750.20, 58917.69, 58918.83, 59095.81, 59384.31, 57603.89, 58758.55, 59057.88, 58192.36, 56048.94, 58323.95, 58245.00, 59793.23, 60204.96, 59893.45, 63503.46, 63109.70, 63314.01, 61572.79, 60683.82, 56216.18, 55724.27, 56473.03.	[Bitcoin Technical Analysis for 2021-04-20] Volume: 67849323955, RSI (14-day): 44.59, 50-day EMA: 55880.78, 200-day EMA: 38751.77 [Wider Market Context] Gold Price: 1777.30, Gold RSI: 59.00 Oil Price: 62.44, Oil RSI: 54.12 [Recent News (last 7 days)] aXpire's PayBX Launches with Aims of Mass Crypto Adoption: We create FinTech SaaS for the modern age Miami Beach, FL , April 19, 2021 (GLOBE NEWSWIRE) -- aXpire is launching their PayBX app in the summer of this year. This cryptocurrency payments application will allow users to spend their crypto through their pre-existing bank-issued debit cards. PayBX will initially launch in Europe and then expand globally. PayBX will be officially launched in Q3 of 2021. PayBX will allow anyone to spend cryptocurrencies using their debit cards. On PayBX, users can earn APY on BTC, ETH, and stablecoins. aXpire is launching their PayBX mobile app to allow users to spend their crypto through their own debit cards. This will be the world’s first application that allows users to spend cryptocurrencies through their own debit cards, not requiring a PayBX-branded card but by simply plugging into their bank accounts. The app will be launched in the third quarter of 2021, and access to the app will start in Europe. The app was created to benefit all crypto holders, as it has become evident that as the blockchain industry grows, there are numerous new users who download and trade on different exchange platforms and that don’t have the ability to spend their cryptocurrencies daily, without large fees or hurdles. What is PayBX PayBX is a custodial wallet as the crypto community requires both decentralized and more centralized options for true adoption. PayBX enables its users to spend the value of their digital assets through pre-existing debit cards, linked to the payments application through API. Rather than traders requiring a new debit card for their wallets, PayBX enables them to spend cryptocurrencies as FIAT by simply using a regular bank-issued debit card. Whenever a transaction is made, PayBX recognizes it and the equivalent amount in crypto can be sold to cover the FIAT value of the transaction, deposited into the users’ bank account. PayBX’s Features PayBX includes several other features with the sole purpose of benefiting the users, including, but not limited to; high yield interest on savings, so users can earn interest on select assets held in PayBX; On-ramp and off-ramp, so users can buy and sell cryptocurrencies against a plethora of FIAT currencies, including EUR, GBP, AUD, JPY and more. Transfer funds to and from users’ banks, or purchase crypto using debit and credit cards, stored in PayBX or transferred off-platform; crypto-to-crypto swaps, for users to swap cryptocurrencies easily without leaving their PayBX wallet. Story continues About aXpire aXpire develops B2B software-as-a-service (SaaS) products and B2C applications which utilizes blockchain technology in the front-end and/or the back-end. The Company has 17+ years of experience in the software development space through their sister company LSG, or Legal Solutions Group, a company that has been creating and servicing “household” names such as Coca-Cola, Nike, IBM, Intel, KFC, NFL and beyond with software solutions. About PayBX PayBX is an application that was created to allow traders to use their pre-existing debit cards to spend cryptocurrencies in online and physical stores, while retaining the cards’ benefits, regardless of the merchant’s acceptance of crypto. Additionally, the app integrates with a leading CeFi provider to offer high APY interest on select holdings held in users’ wallets. AXPR Tokens AXPR is the native token of aXpire that is involved with all its solutions, including PayBX. The token is used within the PayBX app to avail several benefits, including discounts, lower fees, and exclusive features and functionality, such as increased APY if AXPR is held. Media Details - Name - axpire Email - [email protected] City - Miami Country - USA Content Disclaimer: The above review statements are those of the sponsor (Source of content) and do not necessarily reflect the official policy, position or views of the content publisher. The content distribution company is therefore not responsible for the content and its authenticity and legal standing of the above subject matter. Each individual is required to exercise its content when making a purchase from the above offer. The information does not constitute advice or an offer to buy. Any purchase made from the above press release is made at your own risk. Consult an expert advisor/health and professional advisor before any such purchase. 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IN NO EVENT SHALL OUR PR COMPANY BE LIABLE OR RESPONSIBLE TO YOU OR ANY OTHER PERSON FOR ANY DIRECT, INDIRECT, INCIDENTAL, CONSEQUENTIAL, SPECIAL, OR EXEMPLARY DAMAGES OF ANY KIND, INCLUDING WITHOUT LIMITATION, LOST PROFITS OR LOST OPPORTUNITIES, EVEN IF ADVISED OF THE POSSIBILITY OF SUCH DAMAGES IN ADVANCE AND REGARDLESS OF THE CAUSE OF ACTION UPON WHICH ANY SUCH CLAIM IS BASED, INCLUDING, WITHOUT LIMITATION, ANY CLAIM ARISING OUT OF OR IN CONNECTION WITH ANY OF THE CONTENT, INCLUDING, WITHOUT LIMITATION, AUDIO, PHOTOGRAPHS, AND VIDEOS, OR OF THE ACCURACY, RELIABILITY, OR LEGALITY OF ANY STATEMENT MADE IN OR OMITTED FROM ANY advertisement, sponsorship, endorsement, testimonial, opinion, or other product-related or service-related statement or review appearing in the Websites or in ANY post or article distributed via the Websites. \|\| aXpire's PayBX Launches with Aims of Mass Crypto Adoption: We create FinTech SaaS for the modern age Miami Beach, FL , April 19, 2021 (GLOBE NEWSWIRE) --aXpire is launching their PayBX app in the summer of this year. This cryptocurrency payments application will allow users to spend their crypto through their pre-existing bank-issued debit cards. PayBX will initially launch in Europe and then expand globally. • PayBX will be officially launched in Q3 of 2021. • PayBX will allow anyone to spend cryptocurrencies using their debit cards. • On PayBX, users can earn APY on BTC, ETH, and stablecoins. aXpire is launching their PayBX mobile app to allow users to spend their crypto through their own debit cards. This will be the world’s first application that allows users to spend cryptocurrencies through their own debit cards, not requiring a PayBX-branded card but by simply plugging into their bank accounts. The app will be launched in the third quarter of 2021, and access to the app will start in Europe. The app was created to benefit all crypto holders, as it has become evident that as the blockchain industry grows, there are numerous new users who download and trade on different exchange platforms and that don’t have the ability to spend their cryptocurrencies daily, without large fees or hurdles. What is PayBX PayBX is a custodial wallet as the crypto community requires both decentralized and more centralized options for true adoption. PayBX enables its users to spend the value of their digital assets through pre-existing debit cards, linked to the payments application through API. Rather than traders requiring a new debit card for their wallets, PayBX enables them to spend cryptocurrencies as FIAT by simply using a regular bank-issued debit card. Whenever a transaction is made, PayBX recognizes it and the equivalent amount in crypto can be sold to cover the FIAT value of the transaction, deposited into the users’ bank account. PayBX’s Features PayBX includes several other features with the sole purpose of benefiting the users, including, but not limited to; high yield interest on savings, so users can earn interest on select assets held in PayBX; On-ramp and off-ramp, so users can buy and sell cryptocurrencies against a plethora of FIAT currencies, including EUR, GBP, AUD, JPY and more. Transfer funds to and from users’ banks, or purchase crypto using debit and credit cards, stored in PayBX or transferred off-platform; crypto-to-crypto swaps, for users to swap cryptocurrencies easily without leaving their PayBX wallet. About aXpire aXpire develops B2B software-as-a-service (SaaS) products and B2C applications which utilizes blockchain technology in the front-end and/or the back-end. The Company has 17+ years of experience in the software development space through their sister company LSG, or Legal Solutions Group, a company that has been creating and servicing “household” names such as Coca-Cola, Nike, IBM, Intel, KFC, NFL and beyond with software solutions. About PayBX PayBX is an application that was created to allow traders to use their pre-existing debit cards to spend cryptocurrencies in online and physical stores, while retaining the cards’ benefits, regardless of the merchant’s acceptance of crypto. Additionally, the app integrates with a leading CeFi provider to offer high APY interest on select holdings held in users’ wallets. AXPR Tokens AXPR is the native token of aXpire that is involved with all its solutions, including PayBX. The token is used within the PayBX app to avail several benefits, including discounts, lower fees, and exclusive features and functionality, such as increased APY if AXPR is held. 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IN NO EVENT SHALL OUR PR COMPANY BE LIABLE OR RESPONSIBLE TO YOU OR ANY OTHER PERSON FOR ANY DIRECT, INDIRECT, INCIDENTAL, CONSEQUENTIAL, SPECIAL, OR EXEMPLARY DAMAGES OF ANY KIND, INCLUDING WITHOUT LIMITATION, LOST PROFITS OR LOST OPPORTUNITIES, EVEN IF ADVISED OF THE POSSIBILITY OF SUCH DAMAGES IN ADVANCE AND REGARDLESS OF THE CAUSE OF ACTION UPON WHICH ANY SUCH CLAIM IS BASED, INCLUDING, WITHOUT LIMITATION, ANY CLAIM ARISING OUT OF OR IN CONNECTION WITH ANY OF THE CONTENT, INCLUDING, WITHOUT LIMITATION, AUDIO, PHOTOGRAPHS, AND VIDEOS, OR OF THE ACCURACY, RELIABILITY, OR LEGALITY OF ANY STATEMENT MADE IN OR OMITTED FROM ANY advertisement, sponsorship, endorsement, testimonial, opinion, or other product-related or service-related statement or review appearing in the Websites or in ANY post or article distributed via the Websites. \|\| Bitfarms Plans 210 MW Bitcoin Mining Facility in Argentina: Publicly tradedbitcoinmining company Bitfarms (TSXV:BITF, OTC:BFARF) has signed an agreement under which it can draw up to 210 megawatts of electricity for its planned mining facility in Argentina. The initial term of the contract with a private Argentinian power producer is eight years, the company said in anannouncementMonday, with an effective cost of $0.022 per kilowatt-hour for the electricity for the first four years. In October, Bitfarms had agreed to develop a 60 MW bitcoin mining operation in Argentina, noting a “favorable year-round climate” for the facility, which the company said will be a “significant contributor” to its target of 8.0 exahash/second by theend of 2022and “provide geographic production diversification to reduce risk.” Related:Meltem Demirors at Consensus: Distributed “Our planned expansion in Argentina is a continuation of our experience and our desire to deliver value to shareholders,” said Bitfarms President Geoffrey Morphy. “The strategic expansion provides the scale and efficiency that we were seeking.” “With considerable low-cost power available to us over many years, we can enhance our margin performance in the short term and ensure we have a viable operation on which we can count through and after the next halving event in 2024,” Morphy said. According to Bitfarms’ announcement, the “210 MW is sufficient to support approximately 55,000 new-generation miners, which could generate approximately $650 million of revenues or 11,774 BTC, based on current difficulty levels and a bitcoin price of $55,000.” Bitfarms now has five industrial-scale hydroelectricfacilitiesin Québec, Canada, with a combined capacity of 69 MW. The company is also preparing for a Nasdaq listing in a U.S. push. Related:Meghnad Desai at Consensus: Distributed In recent months, Bitfarms has purchased tens of thousands of bitcoin mining machines as part of its wider expansion efforts. In early March, it disclosed plans to buy48,000 MicroBT mining machines. A “substantial portion” of those miners are destined for the Argentinian facility, Bitfarms said Monday. Bitfarms also announced Friday that it had purchased an additional 1,996 newMicroBT mining machines, which will be installed through August and will provide an extra 160 petahash per second. According to Ben Gagnon, director of mining operations at Bitfarms, there has never been as much capital ready to be used in North American markets as there is right now as a result of coronavirus lockdowns. “How do you invest capital in a market like this? Bitcoin mining is the perfect candidate,” he told CoinDesk “It has quick ROIs (return on investments), is capitally intense, can utilize turn-key infrastructure and produce an asset that requires no customers and is appreciating in value faster than anything else they can produce.” The company isn’t alone in its moves toward increasing the mining footprint of North American firms. Other industrial-scale miners such asMarathon,RiotandBlockcaphave purchased tens of thousands of machines in recent weeks. On Monday, DMG Blockchain Solutions, another publicly traded Canadian bitcoin mining company,purchased3,600 application specific integrated circuit (ASIC) machines. • Bitfarms Plans 210 MW Bitcoin Mining Facility in Argentina • Bitfarms Plans 210 MW Bitcoin Mining Facility in Argentina \|\| Bitfarms Plans 210 MW Bitcoin Mining Facility in Argentina: Publicly tradedbitcoinmining company Bitfarms (TSXV:BITF, OTC:BFARF) has signed an agreement under which it can draw up to 210 megawatts of electricity for its planned mining facility in Argentina. The initial term of the contract with a private Argentinian power producer is eight years, the company said in anannouncementMonday, with an effective cost of $0.022 per kilowatt-hour for the electricity for the first four years. In October, Bitfarms had agreed to develop a 60 MW bitcoin mining operation in Argentina, noting a “favorable year-round climate” for the facility, which the company said will be a “significant contributor” to its target of 8.0 exahash/second by theend of 2022and “provide geographic production diversification to reduce risk.” Related:Meltem Demirors at Consensus: Distributed “Our planned expansion in Argentina is a continuation of our experience and our desire to deliver value to shareholders,” said Bitfarms President Geoffrey Morphy. “The strategic expansion provides the scale and efficiency that we were seeking.” “With considerable low-cost power available to us over many years, we can enhance our margin performance in the short term and ensure we have a viable operation on which we can count through and after the next halving event in 2024,” Morphy said. According to Bitfarms’ announcement, the “210 MW is sufficient to support approximately 55,000 new-generation miners, which could generate approximately $650 million of revenues or 11,774 BTC, based on current difficulty levels and a bitcoin price of $55,000.” Bitfarms now has five industrial-scale hydroelectricfacilitiesin Québec, Canada, with a combined capacity of 69 MW. The company is also preparing for a Nasdaq listing in a U.S. push. Related:Meghnad Desai at Consensus: Distributed In recent months, Bitfarms has purchased tens of thousands of bitcoin mining machines as part of its wider expansion efforts. In early March, it disclosed plans to buy48,000 MicroBT mining machines. A “substantial portion” of those miners are destined for the Argentinian facility, Bitfarms said Monday. Bitfarms also announced Friday that it had purchased an additional 1,996 newMicroBT mining machines, which will be installed through August and will provide an extra 160 petahash per second. According to Ben Gagnon, director of mining operations at Bitfarms, there has never been as much capital ready to be used in North American markets as there is right now as a result of coronavirus lockdowns. “How do you invest capital in a market like this? Bitcoin mining is the perfect candidate,” he told CoinDesk “It has quick ROIs (return on investments), is capitally intense, can utilize turn-key infrastructure and produce an asset that requires no customers and is appreciating in value faster than anything else they can produce.” The company isn’t alone in its moves toward increasing the mining footprint of North American firms. Other industrial-scale miners such asMarathon,RiotandBlockcaphave purchased tens of thousands of machines in recent weeks. On Monday, DMG Blockchain Solutions, another publicly traded Canadian bitcoin mining company,purchased3,600 application specific integrated circuit (ASIC) machines. • Bitfarms Plans 210 MW Bitcoin Mining Facility in Argentina • Bitfarms Plans 210 MW Bitcoin Mining Facility in Argentina \|\| Bitfarms Plans 210 MW Bitcoin Mining Facility in Argentina: Publicly traded bitcoin mining company Bitfarms (TSXV:BITF, OTC:BFARF) has signed an agreement under which it can draw up to 210 megawatts of electricity for its planned mining facility in Argentina. The initial term of the contract with a private Argentinian power producer is eight years, the company said in an announcement Monday, with an effective cost of $0.022 per kilowatt-hour for the electricity for the first four years. In October, Bitfarms had agreed to develop a 60 MW bitcoin mining operation in Argentina, noting a favorable year-round climate for the facility, which the company said will be a significant contributor to its target of 8.0 exahash/second by the end of 2022 and provide geographic production diversification to reduce risk. Related: Meltem Demirors at Consensus: Distributed Our planned expansion in Argentina is a continuation of our experience and our desire to deliver value to shareholders, said Bitfarms President Geoffrey Morphy. The strategic expansion provides the scale and efficiency that we were seeking. With considerable low-cost power available to us over many years, we can enhance our margin performance in the short term and ensure we have a viable operation on which we can count through and after the next halving event in 2024, Morphy said. According to Bitfarms announcement, the 210 MW is sufficient to support approximately 55,000 new-generation miners, which could generate approximately $650 million of revenues or 11,774 BTC, based on current difficulty levels and a bitcoin price of $55,000. Bitfarms now has five industrial-scale hydroelectric facilities in Québec, Canada, with a combined capacity of 69 MW. The company is also preparing for a Nasdaq listing in a U.S. push. Bitcoin mining expansion in the Americas Related: Meghnad Desai at Consensus: Distributed In recent months, Bitfarms has purchased tens of thousands of bitcoin mining machines as part of its wider expansion efforts. In early March, it disclosed plans to buy 48,000 MicroBT mining machines . A substantial portion of those miners are destined for the Argentinian facility, Bitfarms said Monday. Bitfarms also announced Friday that it had purchased an additional 1,996 new MicroBT mining machines , which will be installed through August and will provide an extra 160 petahash per second. According to Ben Gagnon, director of mining operations at Bitfarms, there has never been as much capital ready to be used in North American markets as there is right now as a result of coronavirus lockdowns. Story continues How do you invest capital in a market like this? Bitcoin mining is the perfect candidate, he told CoinDesk It has quick ROIs (return on investments), is capitally intense, can utilize turn-key infrastructure and produce an asset that requires no customers and is appreciating in value faster than anything else they can produce. The company isnt alone in its moves toward increasing the mining footprint of North American firms. Other industrial-scale miners such as Marathon , Riot and Blockcap have purchased tens of thousands of machines in recent weeks. On Monday, DMG Blockchain Solutions, another publicly traded Canadian bitcoin mining company, purchased 3,600 application specific integrated circuit (ASIC) machines. Related Stories Bitfarms Plans 210 MW Bitcoin Mining Facility in Argentina Bitfarms Plans 210 MW Bitcoin Mining Facility in Argentina View comments \|\| McDonald's BTS Meal launching May 26 as part of celebrity menu collaboration: The latest superstars to team up with McDonald's on a new celebrity meal:BTS. On Monday, the fast food giant announced it will launch the BTS Meal starting May 26 in the U.S. and 11 other countries. The meal will be offered in nearly 50 countries during May and June. The chain had successfully launched similar limited-edition celebrity meals featuring musiciansTravis ScottandJ Balvin. The meal includes a 10-piece Chicken McNuggets, medium fries, a medium Coke – and, for the first time in the U.S. – Sweet Chili and Cajun dipping sauces. McDonald's says the sauces are inspired by popular recipes from its restaurants in South Korea, where the boy band is from. "The band has great memories with McDonald’s," said Big Hit Music, the record label of BTS, in a statement. "We’re excited about this collaboration and can’t wait to share the BTS Meal with the world." Job openings surge. Why aren't applications?Companies turn to aggressive hiring tactics Ready for 'DogeDay'?:As Bitcoin tumbles, Dogecoin fans want to make 'DogeDay' happen on April 20 The meal will be available in the U.S. May 26 through June 20. Customers in the U.S. will be able to order the BTS Meal in restaurants and drive-thrus, through contactless mobile order in the McDonald’s app or through the chain's delivery service, McDelivery. "We’re excited to bring customers even closer to their beloved band in a way only McDonald’s can – through our delicious food – when we introduce the BTS signature order on our menu next month," said Morgan Flatley, chief marketing officer for McDonald’s USA, in a statement. Follow Brett Molina on Twitter:@brettmolina23. This article originally appeared on USA TODAY:McDonald's BTS Meal: New celebrity menu collaboration launches May 26 \|\| McDonald's BTS Meal launching May 26 as part of celebrity menu collaboration: The latest superstars to team up with McDonald's on a new celebrity meal: BTS . On Monday, the fast food giant announced it will launch the BTS Meal starting May 26 in the U.S. and 11 other countries. The meal will be offered in nearly 50 countries during May and June. The chain had successfully launched similar limited-edition celebrity meals featuring musicians Travis Scott and J Balvin . The meal includes a 10-piece Chicken McNuggets, medium fries, a medium Coke and, for the first time in the U.S. Sweet Chili and Cajun dipping sauces. McDonald's says the sauces are inspired by popular recipes from its restaurants in South Korea, where the boy band is from. "The band has great memories with McDonalds," said Big Hit Music, the record label of BTS, in a statement. "Were excited about this collaboration and cant wait to share the BTS Meal with the world." A logo commemorating The BTS Meal, available at McDonald's starting May 26. Job openings surge. Why aren't applications? Companies turn to aggressive hiring tactics Ready for 'DogeDay'?: As Bitcoin tumbles, Dogecoin fans want to make 'DogeDay' happen on April 20 The meal will be available in the U.S. May 26 through June 20. Customers in the U.S. will be able to order the BTS Meal in restaurants and drive-thrus, through contactless mobile order in the McDonalds app or through the chain's delivery service, McDelivery. "Were excited to bring customers even closer to their beloved band in a way only McDonalds can through our delicious food when we introduce the BTS signature order on our menu next month," said Morgan Flatley, chief marketing officer for McDonalds USA, in a statement. Follow Brett Molina on Twitter: @brettmolina23 . This article originally appeared on USA TODAY: McDonald's BTS Meal: New celebrity menu collaboration launches May 26 \|\| GLOBAL MARKETS-World shares dip after hitting record highs; U.S. yields rebound: * Reuters Live Markets blog: (Updates to U.S. market close) By Rodrigo Campos NEW YORK, April 19 (Reuters) - An index of stocks across the world on Monday posted its largest daily drop in almost four weeks after touching a record high as investors looked for earnings to justify the high valuations in equities. The U.S. dollar index touched a more than 6-week low and Treasury yields edged up after posting on Friday their largest weekly drop since June and oil prices slipped on concerns over rising coronavirus cases globally. On Wall Street, indexes fell, with the Nasdaq being the biggest decliner. The Dow Jones Industrial Average fell 123.04 points, or 0.36%, to 34,077.63, the S&P 500 lost 22.21 points, or 0.53%, to 4,163.26 and the Nasdaq Composite dropped 137.58 points, or 0.98%, to 13,914.77. "Wall Street could be in for a few choppy trading weeks as more of the same strong earnings beats becomes the theme," Edward Moya, senior market analyst at OANDA, said in a note. "U.S. stocks appear to have hit a top as all the good news from corporate America has been mostly priced in and as the pause in rising yields continues." MSCI's gauge of stocks across the globe shed 0.28%, its largest daily drop since March 24. The pan-European STOXX 600 index lost 0.07% and Emerging market stocks lost 0.01%. MSCI's broadest index of Asia-Pacific shares outside Japan closed 0.12% higher. Nikkei futures lost 1.48%. The dollar fell against a basket of peers on the back of the sharp drop in Treasury yields last week. "Indeed, the USD rally is all but distant memory by now and the currency's underperformance seems to reflect the apparent divergence in the outlook between the slumping UST yields and the rather perky bond yields elsewhere," said Valentin Marinov, head of G10 FX research at Credit Agricole. The dollar index fell 0.564%, with the euro up 0.42% to $1.2033. The Japanese yen strengthened 0.55% versus the greenback at 108.15 per dollar, while sterling was last trading at $1.3987, up 1.14% on the day, as traders bet on the British economy reopening amid the COVID-19 pandemic. Treasury yields rose after last week's sharp drop. "Yields are taking their cues from the equity markets," said Jim Barnes, director of fixed income for Bryn Mawr Trust. He and others said investors are also waiting to gauge the market's appetite for $24 billion of 20-year bonds scheduled to be auctioned on Wednesday. Benchmark 10-year notes last fell 10/32 in price to yield 1.6064%, from 1.573% late on Friday. Spot gold dropped 0.3% to $1,770.26 an ounce. Silver fell 0.56% to $25.81. Bitcoin last fell 0.14% to $56,202.89. Oil prices edged up, but rising COVID-19 infections in India prompted concern than stronger measures to contain the pandemic would hurt economic activity. A weaker dollar makes oil cheaper for holders of other currencies. However, COVID-19 cases have surged in India, the world's third-biggest oil importer and consumer, dampening optimism for a sustained global recovery in demand. "The primary hazard to continued oil price strength is the possible re-emergence of COVID-19 case counts on a broad scale," said Jim Ritterbusch, president of Ritterbusch and Associates. U.S. crude rose 0.43% to $63.40 per barrel and Brent was at $67.09, up 0.48% on the day. (Reporting by Rodrigo Campos; additional reporting by Medha Singh and Shivani Kumaresan in Bengaluru, Devika Krishna Kumar, Herbert Lash and David Henry in New York and Ross Kerber in Boston; Editing by Alex Richardson, Will Dunham and Richard Chang) \|\| GLOBAL MARKETS-World shares dip after hitting record highs; U.S. yields rebound: * Reuters Live Markets blog: (Updates to U.S. market close) By Rodrigo Campos NEW YORK, April 19 (Reuters) - An index of stocks across the world on Monday posted its largest daily drop in almost four weeks after touching a record high as investors looked for earnings to justify the high valuations in equities. The U.S. dollar index touched a more than 6-week low and Treasury yields edged up after posting on Friday their largest weekly drop since June and oil prices slipped on concerns over rising coronavirus cases globally. On Wall Street, indexes fell, with the Nasdaq being the biggest decliner. The Dow Jones Industrial Average fell 123.04 points, or 0.36%, to 34,077.63, the S&P 500 lost 22.21 points, or 0.53%, to 4,163.26 and the Nasdaq Composite dropped 137.58 points, or 0.98%, to 13,914.77. "Wall Street could be in for a few choppy trading weeks as more of the same strong earnings beats becomes the theme," Edward Moya, senior market analyst at OANDA, said in a note. "U.S. stocks appear to have hit a top as all the good news from corporate America has been mostly priced in and as the pause in rising yields continues." MSCI's gauge of stocks across the globe shed 0.28%, its largest daily drop since March 24. The pan-European STOXX 600 index lost 0.07% and Emerging market stocks lost 0.01%. MSCI's broadest index of Asia-Pacific shares outside Japan closed 0.12% higher. Nikkei futures lost 1.48%. The dollar fell against a basket of peers on the back of the sharp drop in Treasury yields last week. "Indeed, the USD rally is all but distant memory by now and the currency's underperformance seems to reflect the apparent divergence in the outlook between the slumping UST yields and the rather perky bond yields elsewhere," said Valentin Marinov, head of G10 FX research at Credit Agricole. The dollar index fell 0.564%, with the euro up 0.42% to $1.2033. The Japanese yen strengthened 0.55% versus the greenback at 108.15 per dollar, while sterling was last trading at $1.3987, up 1.14% on the day, as traders bet on the British economy reopening amid the COVID-19 pandemic. Story continues Treasury yields rose after last week's sharp drop. "Yields are taking their cues from the equity markets," said Jim Barnes, director of fixed income for Bryn Mawr Trust. He and others said investors are also waiting to gauge the market's appetite for $24 billion of 20-year bonds scheduled to be auctioned on Wednesday. Benchmark 10-year notes last fell 10/32 in price to yield 1.6064%, from 1.573% late on Friday. Spot gold dropped 0.3% to $1,770.26 an ounce. Silver fell 0.56% to $25.81. Bitcoin last fell 0.14% to $56,202.89. Oil prices edged up, but rising COVID-19 infections in India prompted concern than stronger measures to contain the pandemic would hurt economic activity. A weaker dollar makes oil cheaper for holders of other currencies. However, COVID-19 cases have surged in India, the world's third-biggest oil importer and consumer, dampening optimism for a sustained global recovery in demand. "The primary hazard to continued oil price strength is the possible re-emergence of COVID-19 case counts on a broad scale," said Jim Ritterbusch, president of Ritterbusch and Associates. U.S. crude rose 0.43% to $63.40 per barrel and Brent was at $67.09, up 0.48% on the day. (Reporting by Rodrigo Campos; additional reporting by Medha Singh and Shivani Kumaresan in Bengaluru, Devika Krishna Kumar, Herbert Lash and David Henry in New York and Ross Kerber in Boston; Editing by Alex Richardson, Will Dunham and Richard Chang) \|\| Market Wrap: Bitcoin Recovers From Sunday Slump to $56K as Doge Jumps 19%: The bitcoin market saw spot volumes not witnessed since February and record derivatives action over the weekend. Ether declined, while the meme-y alternative cryptocurrency dogecoin saw double-digit percentage price appreciation. Bitcoin (BTC) trading around $56,026 as of 21:00 UTC (4 p.m. ET). Gaining 0.30% over the previous 24 hours. Bitcoin’s 24-hour range: $54,680-$57,456 (CoinDesk 20) BTC near the 10-hour but below the 50-hour moving average on the hourly chart, a sideways signal for market technicians. The price of bitcoin suffered a price drop on Monday, dipping to as low as $54,680 before recovering somewhat, to $56,026 as of press time “The crypto markets witnessed a sudden dip over the weekend, when BTC dropped before recovering about half of that by day end,” noted David Lifchitz, CIO and partner at quant trading firm ExoAlpha. Related: WeWork Now Accepting Crypto as a Form of Payment Bitcoin volumes on major exchanges that encompass the CoinDesk 20 had a banner day Sunday when viewed through the prism of the past three months. Volumes on the CoinDesk 20 eight spot BTC venues was over $8 billion for the first time since Feb. 23, when volumes surpassed $12 billion. Volumes were much lower Monday, at below $4 billion as of press time. The majority of volume Sunday was related to derivatives, noted Jason Lau, chief operating officer of San Francisco-based exchange OKCoin. Liquidations, the crypto equivalent of a margin call, approached the $10 billion mark Sunday across all digital assets according to data aggregator Bybt. The leveraged wipeouts are a record level that surpasses a previous record set in February. “As usual, the primary reason was a combination of over-leveraged derivative traders,” Lau told CoinDesk. Related: Bitcoin News Roundup for April 20, 2021 Traders are obviously trying to peer into the future to see where BTC will head this week after the dump. It may take a recovery to over $60,000 for the market to expand due to increased retail interest again while whales will scoop up more of the asset if it heads back towards $50,000, according to ExoAlpha’s Lifchitz. “ Bitcoin is stuck in the $50,000-$60,000 twilight zone,” said Lifchitz. “Above $60,000 it’s the retail FOMO, or Fear Of Missing Out, frenzy. Below $50,000 lay the institutional dip buyers.” According to CoinDesk 20 data, bitcoin has closed at over $60,000 only seven days, all of them in March and April. It has not closed below $50,000 since March 6. The Coinbase direct listing last week might add some padding to the market as newer investors find increased interest in crypto, said Misha Alefirenko, co-founder of crypto market maker Velvetformula. Story continues “Retail investors are finally in the game with all the buzz around the Coinbase listing,” Alefirenko said. Read More: Coinbase Going Public Isn’t Selling Out – It’s the Start of a Long Game However, there is still some potential for downside risk. “The bull definitely wants to take a breather,” ExoAlpha’s Lifchitz concluded. “Should the $50,000 level break, dip buyers would be submerged by sellers, then $30,000 looks like the obvious next stop, but we are not there yet.” OKCoin’s Lau sees long-term bullish fundamentals, however, given continued positive statements from central banks regarding crypto. He pointed to China’s central bank, the People’s Bank of China (PBOC) , as an example. “Longer term, the prospects for bitcoin remain bright, buoyed by encouraging statements by the PBOC that bitcoin is emerging as an investable asset class,” Lau said. “This potentially marks a shift in tone towards bitcoin from the world’s second largest economy’s central bank.” Ether dips as investors await relief from fee quagmire Ether (ETH), the second-largest cryptocurrency by market capitalization, was down Monday trading around $2,182 and falling 0.53% in 24 hours as of 21:00 UTC (4:00 p.m. ET). Since the start of 2021, ether’s price has appreciated over 208% as of CoinDesk daily closing price information from Jan. 1 to April 18. Stefan Coolican, chief financial officer of investment firm Ether Capital, says despite some red on the trading screens in the past few days, investors are bullish, anticipating a solution to Ethereum’s fee problems. Ethereum Improvement Proposal 1559, which is expected to help solve constraints in the network’s decentralized application functionality due to high fees, should be arriving in the next few months. Read More: Ethereum’s ‘EIP 1559’ Fee Market Overhaul Greenlit for July “I think EIP 1559 in the summer and the ETH2 merge getting prioritized is very bullish on the ETH value proposition, but this is more of a longer-term six- to 12-month play,” Coolican told CoinDesk. Other markets The perennial meme-maker token dogecoin experienced big-time gains Monday. It rose more than 19% the past day, according to CoinDesk 20 data. The rise comes ahead of what some fans of the token have been referring to as “Dogeday,” on Tuesday seen as an occasion for celebrating the token, and perhaps pumping its price. (The date also happens to be April 20, an occasion for celebration by marijuana enthusiasts.) Ether Capital’s Coolican also noted solana (SOL) was a surprise gainer over the past 24 hours, with data aggregator CoinGecko tallying a 13% gain for the blockchain development project over the past 24 hours. “SOL seemed to be one of the only tokens that was actually bid this weekend as everything else was getting crushed,” he said. “Not sure why.” Read More: Dogecoin Eclipses XRP as 4th-Largest Cryptocurrency Ahead of ‘Dogeday’ Digital assets on the CoinDesk 20 are mostly in the red Monday. Notable winners as of 21:00 UTC (4:00 p.m. ET): xrp (XRP) + 3.1% omg network (OMG) + 1.8% bitcoin cash (BCH) + 0.90% Notable losers: ethereum classic (ETC) – 10.1% tezos (XTZ) – 8.2% algorand (ALGO) – 8.1% Equities: The Nikkei 225 index ended the day flat, in the green just 0.01% as coronavirus surges in Asia largely mitigated a rise in the chipmakers sector Monday . Europe’s FTSE 100 closed in the red 0.28% as the European Central Bank released data showing a decline in the continent’s exports, a bearish signal . The United States’ S&P 500 index slipped 0.50% as the technology sector suffered losses Monday, including Telsa down 4% and Coinbase dipping 3% . Commodities: Oil was up 0.55%. Price per barrel of West Texas Intermediate crude: $63.42. Gold was in the red 0.30% and at $1,770 as of press time. Silver is falling, down 0.46% and changing hands at $25.82. Treasurys: The 10-year U.S. Treasury bond yield climbed Monday to 1.601 and in the green 1.35%. Related Stories Market Wrap: Bitcoin Recovers From Sunday Slump to $56K as Doge Jumps 19% Market Wrap: Bitcoin Recovers From Sunday Slump to $56K as Doge Jumps 19% View comments \|\| Market Wrap: Bitcoin Recovers From Sunday Slump to $56K as Doge Jumps 19%: The bitcoin market saw spot volumes not witnessed since February and record derivatives action over the weekend. Ether declined, while the meme-y alternative cryptocurrency dogecoin saw double-digit percentage price appreciation. Bitcoin (BTC) trading around $56,026 as of 21:00 UTC (4 p.m. ET). Gaining 0.30% over the previous 24 hours. Bitcoin’s 24-hour range: $54,680-$57,456 (CoinDesk 20) BTC near the 10-hour but below the 50-hour moving average on the hourly chart, a sideways signal for market technicians. The price of bitcoin suffered a price drop on Monday, dipping to as low as $54,680 before recovering somewhat, to $56,026 as of press time “The crypto markets witnessed a sudden dip over the weekend, when BTC dropped before recovering about half of that by day end,” noted David Lifchitz, CIO and partner at quant trading firm ExoAlpha. Related: WeWork Now Accepting Crypto as a Form of Payment Bitcoin volumes on major exchanges that encompass the CoinDesk 20 had a banner day Sunday when viewed through the prism of the past three months. Volumes on the CoinDesk 20 eight spot BTC venues was over $8 billion for the first time since Feb. 23, when volumes surpassed $12 billion. Volumes were much lower Monday, at below $4 billion as of press time. The majority of volume Sunday was related to derivatives, noted Jason Lau, chief operating officer of San Francisco-based exchange OKCoin. Liquidations, the crypto equivalent of a margin call, approached the $10 billion mark Sunday across all digital assets according to data aggregator Bybt. The leveraged wipeouts are a record level that surpasses a previous record set in February. “As usual, the primary reason was a combination of over-leveraged derivative traders,” Lau told CoinDesk. Related: Bitcoin News Roundup for April 20, 2021 Traders are obviously trying to peer into the future to see where BTC will head this week after the dump. It may take a recovery to over $60,000 for the market to expand due to increased retail interest again while whales will scoop up more of the asset if it heads back towards $50,000, according to ExoAlpha’s Lifchitz. “ Bitcoin is stuck in the $50,000-$60,000 twilight zone,” said Lifchitz. “Above $60,000 it’s the retail FOMO, or Fear Of Missing Out, frenzy. Below $50,000 lay the institutional dip buyers.” According to CoinDesk 20 data, bitcoin has closed at over $60,000 only seven days, all of them in March and April. It has not closed below $50,000 since March 6. The Coinbase direct listing last week might add some padding to the market as newer investors find increased interest in crypto, said Misha Alefirenko, co-founder of crypto market maker Velvetformula. Story continues “Retail investors are finally in the game with all the buzz around the Coinbase listing,” Alefirenko said. Read More: Coinbase Going Public Isn’t Selling Out – It’s the Start of a Long Game However, there is still some potential for downside risk. “The bull definitely wants to take a breather,” ExoAlpha’s Lifchitz concluded. “Should the $50,000 level break, dip buyers would be submerged by sellers, then $30,000 looks like the obvious next stop, but we are not there yet.” OKCoin’s Lau sees long-term bullish fundamentals, however, given continued positive statements from central banks regarding crypto. He pointed to China’s central bank, the People’s Bank of China (PBOC) , as an example. “Longer term, the prospects for bitcoin remain bright, buoyed by encouraging statements by the PBOC that bitcoin is emerging as an investable asset class,” Lau said. “This potentially marks a shift in tone towards bitcoin from the world’s second largest economy’s central bank.” Ether dips as investors await relief from fee quagmire Ether (ETH), the second-largest cryptocurrency by market capitalization, was down Monday trading around $2,182 and falling 0.53% in 24 hours as of 21:00 UTC (4:00 p.m. ET). Since the start of 2021, ether’s price has appreciated over 208% as of CoinDesk daily closing price information from Jan. 1 to April 18. Stefan Coolican, chief financial officer of investment firm Ether Capital, says despite some red on the trading screens in the past few days, investors are bullish, anticipating a solution to Ethereum’s fee problems. Ethereum Improvement Proposal 1559, which is expected to help solve constraints in the network’s decentralized application functionality due to high fees, should be arriving in the next few months. Read More: Ethereum’s ‘EIP 1559’ Fee Market Overhaul Greenlit for July “I think EIP 1559 in the summer and the ETH2 merge getting prioritized is very bullish on the ETH value proposition, but this is more of a longer-term six- to 12-month play,” Coolican told CoinDesk. Other markets The perennial meme-maker token dogecoin experienced big-time gains Monday. It rose more than 19% the past day, according to CoinDesk 20 data. The rise comes ahead of what some fans of the token have been referring to as “Dogeday,” on Tuesday seen as an occasion for celebrating the token, and perhaps pumping its price. (The date also happens to be April 20, an occasion for celebration by marijuana enthusiasts.) Ether Capital’s Coolican also noted solana (SOL) was a surprise gainer over the past 24 hours, with data aggregator CoinGecko tallying a 13% gain for the blockchain development project over the past 24 hours. “SOL seemed to be one of the only tokens that was actually bid this weekend as everything else was getting crushed,” he said. “Not sure why.” Read More: Dogecoin Eclipses XRP as 4th-Largest Cryptocurrency Ahead of ‘Dogeday’ Digital assets on the CoinDesk 20 are mostly in the red Monday. Notable winners as of 21:00 UTC (4:00 p.m. ET): xrp (XRP) + 3.1% omg network (OMG) + 1.8% bitcoin cash (BCH) + 0.90% Notable losers: ethereum classic (ETC) – 10.1% tezos (XTZ) – 8.2% algorand (ALGO) – 8.1% Equities: The Nikkei 225 index ended the day flat, in the green just 0.01% as coronavirus surges in Asia largely mitigated a rise in the chipmakers sector Monday . Europe’s FTSE 100 closed in the red 0.28% as the European Central Bank released data showing a decline in the continent’s exports, a bearish signal . The United States’ S&P 500 index slipped 0.50% as the technology sector suffered losses Monday, including Telsa down 4% and Coinbase dipping 3% . Commodities: Oil was up 0.55%. Price per barrel of West Texas Intermediate crude: $63.42. Gold was in the red 0.30% and at $1,770 as of press time. Silver is falling, down 0.46% and changing hands at $25.82. Treasurys: The 10-year U.S. Treasury bond yield climbed Monday to 1.601 and in the green 1.35%. Related Stories Market Wrap: Bitcoin Recovers From Sunday Slump to $56K as Doge Jumps 19% Market Wrap: Bitcoin Recovers From Sunday Slump to $56K as Doge Jumps 19% View comments \|\| Market Wrap: Bitcoin Recovers From Sunday Slump to $56K as Doge Jumps 19%: The bitcoin market saw spot volumes not witnessed since February and record derivatives action over the weekend. Ether declined, while the meme-y alternative cryptocurrency dogecoin saw double-digit percentage price appreciation. Bitcoin (BTC) trading around $56,026 as of 21:00 UTC (4 p.m. ET). Gaining 0.30% over the previous 24 hours. Bitcoin’s 24-hour range: $54,680-$57,456 (CoinDesk 20) BTC near the 10-hour but below the 50-hour moving average on the hourly chart, a sideways signal for market technicians. The price of bitcoin suffered a price drop on Monday, dipping to as low as $54,680 before recovering somewhat, to $56,026 as of press time “The crypto markets witnessed a sudden dip over the weekend, when BTC dropped before recovering about half of that by day end,” noted David Lifchitz, CIO and partner at quant trading firm ExoAlpha. Related: WeWork Now Accepting Crypto as a Form of Payment Bitcoin volumes on major exchanges that encompass the CoinDesk 20 had a banner day Sunday when viewed through the prism of the past three months. Volumes on the CoinDesk 20 eight spot BTC venues was over $8 billion for the first time since Feb. 23, when volumes surpassed $12 billion. Volumes were much lower Monday, at below $4 billion as of press time. The majority of volume Sunday was related to derivatives, noted Jason Lau, chief operating officer of San Francisco-based exchange OKCoin. Liquidations, the crypto equivalent of a margin call, approached the $10 billion mark Sunday across all digital assets according to data aggregator Bybt. The leveraged wipeouts are a record level that surpasses a previous record set in February. “As usual, the primary reason was a combination of over-leveraged derivative traders,” Lau told CoinDesk. Related: Bitcoin News Roundup for April 20, 2021 Traders are obviously trying to peer into the future to see where BTC will head this week after the dump. It may take a recovery to over $60,000 for the market to expand due to increased retail interest again while whales will scoop up more of the asset if it heads back towards $50,000, according to ExoAlpha’s Lifchitz. “ Bitcoin is stuck in the $50,000-$60,000 twilight zone,” said Lifchitz. “Above $60,000 it’s the retail FOMO, or Fear Of Missing Out, frenzy. Below $50,000 lay the institutional dip buyers.” According to CoinDesk 20 data, bitcoin has closed at over $60,000 only seven days, all of them in March and April. It has not closed below $50,000 since March 6. The Coinbase direct listing last week might add some padding to the market as newer investors find increased interest in crypto, said Misha Alefirenko, co-founder of crypto market maker Velvetformula. Story continues “Retail investors are finally in the game with all the buzz around the Coinbase listing,” Alefirenko said. Read More: Coinbase Going Public Isn’t Selling Out – It’s the Start of a Long Game However, there is still some potential for downside risk. “The bull definitely wants to take a breather,” ExoAlpha’s Lifchitz concluded. “Should the $50,000 level break, dip buyers would be submerged by sellers, then $30,000 looks like the obvious next stop, but we are not there yet.” OKCoin’s Lau sees long-term bullish fundamentals, however, given continued positive statements from central banks regarding crypto. He pointed to China’s central bank, the People’s Bank of China (PBOC) , as an example. “Longer term, the prospects for bitcoin remain bright, buoyed by encouraging statements by the PBOC that bitcoin is emerging as an investable asset class,” Lau said. “This potentially marks a shift in tone towards bitcoin from the world’s second largest economy’s central bank.” Ether dips as investors await relief from fee quagmire Ether (ETH), the second-largest cryptocurrency by market capitalization, was down Monday trading around $2,182 and falling 0.53% in 24 hours as of 21:00 UTC (4:00 p.m. ET). Since the start of 2021, ether’s price has appreciated over 208% as of CoinDesk daily closing price information from Jan. 1 to April 18. Stefan Coolican, chief financial officer of investment firm Ether Capital, says despite some red on the trading screens in the past few days, investors are bullish, anticipating a solution to Ethereum’s fee problems. Ethereum Improvement Proposal 1559, which is expected to help solve constraints in the network’s decentralized application functionality due to high fees, should be arriving in the next few months. Read More: Ethereum’s ‘EIP 1559’ Fee Market Overhaul Greenlit for July “I think EIP 1559 in the summer and the ETH2 merge getting prioritized is very bullish on the ETH value proposition, but this is more of a longer-term six- to 12-month play,” Coolican told CoinDesk. Other markets The perennial meme-maker token dogecoin experienced big-time gains Monday. It rose more than 19% the past day, according to CoinDesk 20 data. The rise comes ahead of what some fans of the token have been referring to as “Dogeday,” on Tuesday seen as an occasion for celebrating the token, and perhaps pumping its price. (The date also happens to be April 20, an occasion for celebration by marijuana enthusiasts.) Ether Capital’s Coolican also noted solana (SOL) was a surprise gainer over the past 24 hours, with data aggregator CoinGecko tallying a 13% gain for the blockchain development project over the past 24 hours. “SOL seemed to be one of the only tokens that was actually bid this weekend as everything else was getting crushed,” he said. “Not sure why.” Read More: Dogecoin Eclipses XRP as 4th-Largest Cryptocurrency Ahead of ‘Dogeday’ Digital assets on the CoinDesk 20 are mostly in the red Monday. Notable winners as of 21:00 UTC (4:00 p.m. ET): xrp (XRP) + 3.1% omg network (OMG) + 1.8% bitcoin cash (BCH) + 0.90% Notable losers: ethereum classic (ETC) – 10.1% tezos (XTZ) – 8.2% algorand (ALGO) – 8.1% Equities: The Nikkei 225 index ended the day flat, in the green just 0.01% as coronavirus surges in Asia largely mitigated a rise in the chipmakers sector Monday . Europe’s FTSE 100 closed in the red 0.28% as the European Central Bank released data showing a decline in the continent’s exports, a bearish signal . The United States’ S&P 500 index slipped 0.50% as the technology sector suffered losses Monday, including Telsa down 4% and Coinbase dipping 3% . Commodities: Oil was up 0.55%. Price per barrel of West Texas Intermediate crude: $63.42. Gold was in the red 0.30% and at $1,770 as of press time. Silver is falling, down 0.46% and changing hands at $25.82. Treasurys: The 10-year U.S. Treasury bond yield climbed Monday to 1.601 and in the green 1.35%. Related Stories Market Wrap: Bitcoin Recovers From Sunday Slump to $56K as Doge Jumps 19% Market Wrap: Bitcoin Recovers From Sunday Slump to $56K as Doge Jumps 19% View comments \|\| Bitcoin Well Announces Record Fourth Quarter and Year End 2020 Financial Results: EDMONTON, Alberta, April 19, 2021 (GLOBE NEWSWIRE) --Bitcoin Well(the “Company” or “BTCW”) is proud to provide a summary of our record financial and operating results for the three and twelve month periods ended December 31, 2020. Bitcoin Well realized tremendous growth and evolution through 2020, highlighted by an increase in operating ATM machines of almost 140% year-over-year. We completed a corporate rebrand to Bitcoin Well, successfully closed multiple acquisitions that helped further grow our business, and initiated a reverse takeover transaction (the "RTO") to pursue a public listing (see the press release datedSeptember 14, 2020). Our financial and operating results in 2020 were driven by our unique organic growth strategy, enterprising consolidation approach and commitment to cost-effective expansion into new markets. During the year, we bolstered our internal team and implemented sound governance processes and policies in advance of becoming a reporting issuer. “I am proud and excited to share our team’s accomplishments from 2020. Last year was a banner year for Bitcoin Well across the board and has set us up for continued growth in 2021 and beyond,” said Adam O’Brien, Founder and CEO of Bitcoin Well. “Today, you can find us in almost every major Canadian city with over 120 ATMs and a suite of easy-to-use online services. Bitcoin Well is strategically positioned to keep propelling our growth and become the first publicly-traded Bitcoin ATM company in the world1, while providing the fastest and safest way to buy and sell bitcoin.” Record Q4 and Year-End 2020 Highlights • Revenue increased by over 255% to $52.0 million in 2020 over 2019, while Q4 2020 sales revenue increased more than 425% to $22.9 million compared to $4.3 million for the same period in 2019. Growth in both periods is due largely to an increase in active ATMs, higher per machine revenue, rising bitcoin and other cryptocurrency prices and an increase in our over-the-counter (“OTC”) sales. • Gross profit in 2020 grew approximately 340% year-over-year to $7.3 million, representing a gross profit margin of 14%, while Q4 2020 gross profit was over 485% higher than Q4 2019 at $3.8 million, generating a Q4 2020 gross profit margin of 17%. • We generated Adjusted EBITDA2of $3.0 million in 2020, over 455% higher than in 2019, and our Q4 2020 Adjusted EBITDA2was $1.9 million, an increase of more than 500% compared to Q4 2019. • A total of 55 new ATMs were added to our portfolio through the year which contributed to a total of 95 machines installed across Canada as at December 31, 2020; and today, the Company has 124 ATMs in operation. • Our average revenue generated per machine in Q4 2020 was over $33,500 with an average transaction size per machine of just under $1,000. • Cash balances at year end 2020 totaled $4.1 million with a working capital deficit of $2.9 million, while the market value of our inventory held at December 31, 2020 was $6.7 million, compared with $87 thousand at year end 2019. • Bitcoin Well recorded net operating income of $1.8 million for 2020 compared to $276 thousand in 2019, reflecting over $800 thousand of costs associated with the RTO transaction, and realized a net comprehensive loss of $2.7 million owing primarily to non-cash items including the change in fair value of cryptocurrency and share-based compensation expenses. 1Based on management’s assessment derived from publicly-available sources.2Non-IFRS measure. See Advisories – "Non-IFRS measures". Q4 and Full Year 2020 Overview [{"": "Revenue ($000s)", "Quarter endedDec 31, 2020": "$22,865.6", "Quarter endedDec 31, 2019": "$4,336.7", "Year endedDec 31, 2020": "$51,970.6", "Year endedDec 31, 2019": "$14,539.5"}, {"": "Gross Profit ($000s)", "Quarter endedDec 31, 2020": "$3,835.0", "Quarter endedDec 31, 2019": "$653.2", "Year endedDec 31, 2020": "$7,292.7", "Year endedDec 31, 2019": "$1,653.2"}, {"": "Gross Profit Margin (%)", "Quarter endedDec 31, 2020": "17%", "Quarter endedDec 31, 2019": "15%", "Year endedDec 31, 2020": "14%", "Year endedDec 31, 2019": "11%"}, {"": "Adjusted EBITDA1($000s)", "Quarter endedDec 31, 2020": "$1,947.2", "Quarter endedDec 31, 2019": "$316.9", "Year endedDec 31, 2020": "$2,964.6", "Year endedDec 31, 2019": "$531.2"}, {"": "Adjusted EBITDA1Margin (%)", "Quarter endedDec 31, 2020": "8.5%", "Quarter endedDec 31, 2019": "7.3%", "Year endedDec 31, 2020": "5.7%", "Year endedDec 31, 2019": "3.7%"}, {"": "ATM Count", "Quarter endedDec 31, 2020": "", "Quarter endedDec 31, 2019": "", "Year endedDec 31, 2020": "95", "Year endedDec 31, 2019": "40"}] 1Non-IFRS measure. See Advisories – "Non-IFRS measures". The Company’s audited Financial Statements and Notes, as well as Management’s Discussion and Analysis (“MD&A”) for the three and twelve months ended December 31, 2020 will be available on the Company’s website. Developments to Date in 2021 In the first four months of 2021, we have successfully achieved several key milestones that put us in an exceptional position for the foreseeable future: • So far in 2021, Bitcoin Well has added 29 ATMs to our portfolio. • In February, Bitcoin Well announced a brokered private placement of up to $7 million, the proceeds from which will be used to accelerate global expansion, support the pursuit of synergistic acquisitions and reinforce our working capital. The financing is expected to close concurrently with the RTO closing. • We also announced in February the development of a new corporate headquarters that will be a staple in the City of Edmonton. Our office will provide 35,000 square feet of collaborative workspace for Bitcoin Well to build community, inspire learning and innovation and be able to house our ongoing growth. The Company’s headquarters will be a safe and inviting space for people to come and learn about Bitcoin. The Company’s 2021 plan is expected to leverage the skills and expertise of our all-star team, add new ATMs and enhance our service offerings which will continue supporting our growth trajectory. We believe Bitcoin Well is poised to drive further expansion of our business, revenue and customer base, while benefitting from the macro-level industry discussions around bitcoin and its role aiding individuals to gain financial sovereignty. Leading the Way One of the many advantages of Bitcoin Well is that our business model is ‘non-custodial’, which means that at no time during a transaction are we holding client funds on their behalf. True to our credo that Bitcoin ATMs offer the fastest and safest ways to buy and sell bitcoin, the time lapse between when a customer deposits funds into our ATMs until they receive their bitcoin delivered to their wallet is approximately eight seconds. This sets Bitcoin Well apart from crypto-asset trading platforms (“CTP”s), which are custodial platforms (such as cryptocurrency exchanges) that facilitate trades in security tokens or crypto contracts, and are very different from Bitcoin Well. At the end of March, 2021, Canadian securities regulators issued guidance that represents a landmark change in the regulatory landscape for CTPs and which will have a material impact on those businesses in Canada. Since we are non-custodial, these new regulations do not apply to Bitcoin Well and in fact, help to demonstrate the value of our trusted, convenient and high-integrity business model. Effective June 1, 2021, new compliance obligations will be required for all entities dealing in cryptocurrencies which is expected to become overly burdensome for smaller companies and increase acquisition opportunities for Bitcoin Well. Since we are already registered with the Canadian Government’s Financial Transactions and Reports Analysis Centre (“FINTRAC”), Bitcoin Well has established extremely rigorous compliance protocols and practices which protect the Company as well as our clients. About Bitcoin Well Bitcoin Well offers convenient, secure and reliable ways to buy and sell bitcoin through a trusted Bitcoin ATM network and suite of web-based transaction services. Bitcoin Well is profitable and positioned to become the first publicly traded Bitcoin ATM company, with an enterprising consolidation strategy to deliver accretive and cost-effective expansion in North America and globally. As leaders of the longest-running, founder-led Bitcoin ATM company, management of Bitcoin Well brings deep operational capabilities that span the entire value chain along with access to proprietary, cutting-edge software development that supports further expansion. Follow us onLinkedIn,Twitter,YouTube,FacebookandInstagramto keep up to date with our business. Contact InformationFor further information, please contact: Bitcoin Well 10142 82 Avenue NWEdmonton, AB T6E 1Z4bitcoinwell.com Adam O’Brien, President & CEOTel: 1 888 711 3866 or Karen Smola, Marketing ManagerTel: 1 888 711 3866 Reader Advisory / Forward-Looking Statements Statements in this press release regarding Bitcoin Well which are not historical facts are “forward-looking statements” that involve risks and uncertainties, such as the timing of expansion plans and activities, the closing of the RTO and the timing thereof, as well as various business objectives. Such information can generally be identified by the use of forwarding-looking wording such as “may”, “expect”, “estimate”, “anticipate”, “intend”, “believe” and “continue” or the negative thereof or similar variations. Since forward-looking statements address future events and conditions, by their very nature, they involve inherent risks and uncertainties such as the risk that the closing may not occur for any reason. Actual results in each case could differ materially from those currently anticipated in such statements due to factors such as: (i) adverse market conditions and (ii) the need for additional financing. Except as required by law, Bitcoin Well does not intend to update any changes to such statements. Investors are cautioned that, except as disclosed in the filing statement prepared in connection with the RTO, any information released or received with respect to the transaction may not be accurate or complete and should not be relied upon. Non-IFRS Measures The Company uses certain terms in this news release and within the MD&A, such as ‘adjusted EBITDA’, which do not have a standardized or prescribed meaning under International Financial Reporting Standards (IFRS), and, accordingly these measurements may not be comparable with the calculation of similar measurements used by other companies. For a reconciliation of each non-IFRS measure to its nearest IFRS measure, please refer to the "Cautionary Note Regarding Forward-Looking Information” section in the MD&A for applicable definitions, calculations, rationale for use and reconciliations to the most directly comparable measure under IFRS. Non-IFRS measures are provided as supplementary information by which readers may wish to consider the Company's performance but should not be relied upon for comparative or investment purposes. The TSX Venture Exchange Inc. has in no way passed upon the merits of the RTO and has neither approved nor disapproved the contents of this press release. \|\| Bitcoin Well Announces Record Fourth Quarter and Year End 2020 Financial Results: EDMONTON, Alberta, April 19, 2021 (GLOBE NEWSWIRE) -- Bitcoin Well (the Company or BTCW) is proud to provide a summary of our record financial and operating results for the three and twelve month periods ended December 31, 2020. Bitcoin Well realized tremendous growth and evolution through 2020, highlighted by an increase in operating ATM machines of almost 140% year-over-year. We completed a corporate rebrand to Bitcoin Well, successfully closed multiple acquisitions that helped further grow our business, and initiated a reverse takeover transaction (the "RTO") to pursue a public listing (see the press release dated September 14, 2020 ). Our financial and operating results in 2020 were driven by our unique organic growth strategy, enterprising consolidation approach and commitment to cost-effective expansion into new markets. During the year, we bolstered our internal team and implemented sound governance processes and policies in advance of becoming a reporting issuer. I am proud and excited to share our teams accomplishments from 2020. Last year was a banner year for Bitcoin Well across the board and has set us up for continued growth in 2021 and beyond, said Adam OBrien, Founder and CEO of Bitcoin Well. Today, you can find us in almost every major Canadian city with over 120 ATMs and a suite of easy-to-use online services. Bitcoin Well is strategically positioned to keep propelling our growth and become the first publicly-traded Bitcoin ATM company in the world 1 , while providing the fastest and safest way to buy and sell bitcoin. Record Q4 and Year-End 2020 Highlights Revenue increased by over 255% to $52.0 million in 2020 over 2019, while Q4 2020 sales revenue increased more than 425% to $22.9 million compared to $4.3 million for the same period in 2019. Growth in both periods is due largely to an increase in active ATMs, higher per machine revenue, rising bitcoin and other cryptocurrency prices and an increase in our over-the-counter (OTC) sales. Gross profit in 2020 grew approximately 340% year-over-year to $7.3 million, representing a gross profit margin of 14%, while Q4 2020 gross profit was over 485% higher than Q4 2019 at $3.8 million, generating a Q4 2020 gross profit margin of 17%. We generated Adjusted EBITDA 2 of $3.0 million in 2020, over 455% higher than in 2019, and our Q4 2020 Adjusted EBITDA 2 was $1.9 million, an increase of more than 500% compared to Q4 2019. A total of 55 new ATMs were added to our portfolio through the year which contributed to a total of 95 machines installed across Canada as at December 31, 2020; and today, the Company has 124 ATMs in operation. Our average revenue generated per machine in Q4 2020 was over $33,500 with an average transaction size per machine of just under $1,000. Cash balances at year end 2020 totaled $4.1 million with a working capital deficit of $2.9 million, while the market value of our inventory held at December 31, 2020 was $6.7 million, compared with $87 thousand at year end 2019. Bitcoin Well recorded net operating income of $1.8 million for 2020 compared to $276 thousand in 2019, reflecting over $800 thousand of costs associated with the RTO transaction, and realized a net comprehensive loss of $2.7 million owing primarily to non-cash items including the change in fair value of cryptocurrency and share-based compensation expenses. Story continues 1 Based on managements assessment derived from publicly-available sources. 2 Non-IFRS measure. See Advisories "Non-IFRS measures". Q4 and Full Year 2020 Overview Quarter ended Dec 31, 2020 Quarter ended Dec 31, 2019 Year ended Dec 31, 2020 Year ended Dec 31, 2019 Revenue ($000s) $ 22,865.6 $4,336.7 $ 51,970.6 $14,539.5 Gross Profit ($000s) $ 3,835.0 $653.2 $ 7,292.7 $1,653.2 Gross Profit Margin (%) 17 % 15% 14 % 11% Adjusted EBITDA 1 ($000s) $ 1,947.2 $316.9 $ 2,964.6 $531.2 Adjusted EBITDA 1 Margin (%) 8.5 % 7.3% 5.7 % 3.7% ATM Count 95 40 1 Non-IFRS measure. See Advisories "Non-IFRS measures". The Companys audited Financial Statements and Notes, as well as Managements Discussion and Analysis (MD&A) for the three and twelve months ended December 31, 2020 will be available on the Companys website. Developments to Date in 2021 In the first four months of 2021, we have successfully achieved several key milestones that put us in an exceptional position for the foreseeable future: So far in 2021, Bitcoin Well has added 29 ATMs to our portfolio. In February, Bitcoin Well announced a brokered private placement of up to $7 million, the proceeds from which will be used to accelerate global expansion, support the pursuit of synergistic acquisitions and reinforce our working capital. The financing is expected to close concurrently with the RTO closing. We also announced in February the development of a new corporate headquarters that will be a staple in the City of Edmonton. Our office will provide 35,000 square feet of collaborative workspace for Bitcoin Well to build community, inspire learning and innovation and be able to house our ongoing growth. The Companys headquarters will be a safe and inviting space for people to come and learn about Bitcoin. The Companys 2021 plan is expected to leverage the skills and expertise of our all-star team, add new ATMs and enhance our service offerings which will continue supporting our growth trajectory. We believe Bitcoin Well is poised to drive further expansion of our business, revenue and customer base, while benefitting from the macro-level industry discussions around bitcoin and its role aiding individuals to gain financial sovereignty. Leading the Way One of the many advantages of Bitcoin Well is that our business model is non-custodial, which means that at no time during a transaction are we holding client funds on their behalf. True to our credo that Bitcoin ATMs offer the fastest and safest ways to buy and sell bitcoin, the time lapse between when a customer deposits funds into our ATMs until they receive their bitcoin delivered to their wallet is approximately eight seconds. This sets Bitcoin Well apart from crypto-asset trading platforms (CTPs), which are custodial platforms (such as cryptocurrency exchanges) that facilitate trades in security tokens or crypto contracts, and are very different from Bitcoin Well. At the end of March, 2021, Canadian securities regulators issued guidance that represents a landmark change in the regulatory landscape for CTPs and which will have a material impact on those businesses in Canada. Since we are non-custodial, these new regulations do not apply to Bitcoin Well and in fact, help to demonstrate the value of our trusted, convenient and high-integrity business model. Effective June 1, 2021, new compliance obligations will be required for all entities dealing in cryptocurrencies which is expected to become overly burdensome for smaller companies and increase acquisition opportunities for Bitcoin Well. Since we are already registered with the Canadian Governments Financial Transactions and Reports Analysis Centre (FINTRAC), Bitcoin Well has established extremely rigorous compliance protocols and practices which protect the Company as well as our clients. About Bitcoin Well Bitcoin Well offers convenient, secure and reliable ways to buy and sell bitcoin through a trusted Bitcoin ATM network and suite of web-based transaction services. Bitcoin Well is profitable and positioned to become the first publicly traded Bitcoin ATM company, with an enterprising consolidation strategy to deliver accretive and cost-effective expansion in North America and globally. As leaders of the longest-running, founder-led Bitcoin ATM company, management of Bitcoin Well brings deep operational capabilities that span the entire value chain along with access to proprietary, cutting-edge software development that supports further expansion. Follow us on LinkedIn , Twitter , YouTube , Facebook and Instagram to keep up to date with our business. Contact Information For further information, please contact: Bitcoin Well 10142 82 Avenue NW Edmonton, AB T6E 1Z4 bitcoinwell.com Adam OBrien , President & CEO Tel: 1 888 711 3866 or Karen Smola , Marketing Manager Tel: 1 888 711 3866 Reader Advisory / Forward-Looking Statements Statements in this press release regarding Bitcoin Well which are not historical facts are forward-looking statements that involve risks and uncertainties, such as the timing of expansion plans and activities, the closing of the RTO and the timing thereof, as well as various business objectives. Such information can generally be identified by the use of forwarding-looking wording such as may, expect, estimate, anticipate, intend, believe and continue or the negative thereof or similar variations. Since forward-looking statements address future events and conditions, by their very nature, they involve inherent risks and uncertainties such as the risk that the closing may not occur for any reason. Actual results in each case could differ materially from those currently anticipated in such statements due to factors such as: (i) adverse market conditions and (ii) the need for additional financing. Except as required by law, Bitcoin Well does not intend to update any changes to such statements. Investors are cautioned that, except as disclosed in the filing statement prepared in connection with the RTO, any information released or received with respect to the transaction may not be accurate or complete and should not be relied upon. Non-IFRS Measures The Company uses certain terms in this news release and within the MD&A, such as adjusted EBITDA, which do not have a standardized or prescribed meaning under International Financial Reporting Standards (IFRS), and, accordingly these measurements may not be comparable with the calculation of similar measurements used by other companies. For a reconciliation of each non-IFRS measure to its nearest IFRS measure, please refer to the "Cautionary Note Regarding Forward-Looking Information section in the MD&A for applicable definitions, calculations, rationale for use and reconciliations to the most directly comparable measure under IFRS. Non-IFRS measures are provided as supplementary information by which readers may wish to consider the Company's performance but should not be relied upon for comparative or investment purposes. The TSX Venture Exchange Inc. has in no way passed upon the merits of the RTO and has neither approved nor disapproved the contents of this press release. \|\| Bitcoin Well Announces Record Fourth Quarter and Year End 2020 Financial Results: EDMONTON, Alberta, April 19, 2021 (GLOBE NEWSWIRE) --Bitcoin Well(the “Company” or “BTCW”) is proud to provide a summary of our record financial and operating results for the three and twelve month periods ended December 31, 2020. Bitcoin Well realized tremendous growth and evolution through 2020, highlighted by an increase in operating ATM machines of almost 140% year-over-year. We completed a corporate rebrand to Bitcoin Well, successfully closed multiple acquisitions that helped further grow our business, and initiated a reverse takeover transaction (the "RTO") to pursue a public listing (see the press release datedSeptember 14, 2020). Our financial and operating results in 2020 were driven by our unique organic growth strategy, enterprising consolidation approach and commitment to cost-effective expansion into new markets. During the year, we bolstered our internal team and implemented sound governance processes and policies in advance of becoming a reporting issuer. “I am proud and excited to share our team’s accomplishments from 2020. Last year was a banner year for Bitcoin Well across the board and has set us up for continued growth in 2021 and beyond,” said Adam O’Brien, Founder and CEO of Bitcoin Well. “Today, you can find us in almost every major Canadian city with over 120 ATMs and a suite of easy-to-use online services. Bitcoin Well is strategically positioned to keep propelling our growth and become the first publicly-traded Bitcoin ATM company in the world1, while providing the fastest and safest way to buy and sell bitcoin.” Record Q4 and Year-End 2020 Highlights • Revenue increased by over 255% to $52.0 million in 2020 over 2019, while Q4 2020 sales revenue increased more than 425% to $22.9 million compared to $4.3 million for the same period in 2019. Growth in both periods is due largely to an increase in active ATMs, higher per machine revenue, rising bitcoin and other cryptocurrency prices and an increase in our over-the-counter (“OTC”) sales. • Gross profit in 2020 grew approximately 340% year-over-year to $7.3 million, representing a gross profit margin of 14%, while Q4 2020 gross profit was over 485% higher than Q4 2019 at $3.8 million, generating a Q4 2020 gross profit margin of 17%. • We generated Adjusted EBITDA2of $3.0 million in 2020, over 455% higher than in 2019, and our Q4 2020 Adjusted EBITDA2was $1.9 million, an increase of more than 500% compared to Q4 2019. • A total of 55 new ATMs were added to our portfolio through the year which contributed to a total of 95 machines installed across Canada as at December 31, 2020; and today, the Company has 124 ATMs in operation. • Our average revenue generated per machine in Q4 2020 was over $33,500 with an average transaction size per machine of just under $1,000. • Cash balances at year end 2020 totaled $4.1 million with a working capital deficit of $2.9 million, while the market value of our inventory held at December 31, 2020 was $6.7 million, compared with $87 thousand at year end 2019. • Bitcoin Well recorded net operating income of $1.8 million for 2020 compared to $276 thousand in 2019, reflecting over $800 thousand of costs associated with the RTO transaction, and realized a net comprehensive loss of $2.7 million owing primarily to non-cash items including the change in fair value of cryptocurrency and share-based compensation expenses. 1Based on management’s assessment derived from publicly-available sources.2Non-IFRS measure. See Advisories – "Non-IFRS measures". Q4 and Full Year 2020 Overview [{"": "Revenue ($000s)", "Quarter endedDec 31, 2020": "$22,865.6", "Quarter endedDec 31, 2019": "$4,336.7", "Year endedDec 31, 2020": "$51,970.6", "Year endedDec 31, 2019": "$14,539.5"}, {"": "Gross Profit ($000s)", "Quarter endedDec 31, 2020": "$3,835.0", "Quarter endedDec 31, 2019": "$653.2", "Year endedDec 31, 2020": "$7,292.7", "Year endedDec 31, 2019": "$1,653.2"}, {"": "Gross Profit Margin (%)", "Quarter endedDec 31, 2020": "17%", "Quarter endedDec 31, 2019": "15%", "Year endedDec 31, 2020": "14%", "Year endedDec 31, 2019": "11%"}, {"": "Adjusted EBITDA1($000s)", "Quarter endedDec 31, 2020": "$1,947.2", "Quarter endedDec 31, 2019": "$316.9", "Year endedDec 31, 2020": "$2,964.6", "Year endedDec 31, 2019": "$531.2"}, {"": "Adjusted EBITDA1Margin (%)", "Quarter endedDec 31, 2020": "8.5%", "Quarter endedDec 31, 2019": "7.3%", "Year endedDec 31, 2020": "5.7%", "Year endedDec 31, 2019": "3.7%"}, {"": "ATM Count", "Quarter endedDec 31, 2020": "", "Quarter endedDec 31, 2019": "", "Year endedDec 31, 2020": "95", "Year endedDec 31, 2019": "40"}] 1Non-IFRS measure. See Advisories – "Non-IFRS measures". The Company’s audited Financial Statements and Notes, as well as Management’s Discussion and Analysis (“MD&A”) for the three and twelve months ended December 31, 2020 will be available on the Company’s website. Developments to Date in 2021 In the first four months of 2021, we have successfully achieved several key milestones that put us in an exceptional position for the foreseeable future: • So far in 2021, Bitcoin Well has added 29 ATMs to our portfolio. • In February, Bitcoin Well announced a brokered private placement of up to $7 million, the proceeds from which will be used to accelerate global expansion, support the pursuit of synergistic acquisitions and reinforce our working capital. The financing is expected to close concurrently with the RTO closing. • We also announced in February the development of a new corporate headquarters that will be a staple in the City of Edmonton. Our office will provide 35,000 square feet of collaborative workspace for Bitcoin Well to build community, inspire learning and innovation and be able to house our ongoing growth. The Company’s headquarters will be a safe and inviting space for people to come and learn about Bitcoin. The Company’s 2021 plan is expected to leverage the skills and expertise of our all-star team, add new ATMs and enhance our service offerings which will continue supporting our growth trajectory. We believe Bitcoin Well is poised to drive further expansion of our business, revenue and customer base, while benefitting from the macro-level industry discussions around bitcoin and its role aiding individuals to gain financial sovereignty. Leading the Way One of the many advantages of Bitcoin Well is that our business model is ‘non-custodial’, which means that at no time during a transaction are we holding client funds on their behalf. True to our credo that Bitcoin ATMs offer the fastest and safest ways to buy and sell bitcoin, the time lapse between when a customer deposits funds into our ATMs until they receive their bitcoin delivered to their wallet is approximately eight seconds. This sets Bitcoin Well apart from crypto-asset trading platforms (“CTP”s), which are custodial platforms (such as cryptocurrency exchanges) that facilitate trades in security tokens or crypto contracts, and are very different from Bitcoin Well. At the end of March, 2021, Canadian securities regulators issued guidance that represents a landmark change in the regulatory landscape for CTPs and which will have a material impact on those businesses in Canada. Since we are non-custodial, these new regulations do not apply to Bitcoin Well and in fact, help to demonstrate the value of our trusted, convenient and high-integrity business model. Effective June 1, 2021, new compliance obligations will be required for all entities dealing in cryptocurrencies which is expected to become overly burdensome for smaller companies and increase acquisition opportunities for Bitcoin Well. Since we are already registered with the Canadian Government’s Financial Transactions and Reports Analysis Centre (“FINTRAC”), Bitcoin Well has established extremely rigorous compliance protocols and practices which protect the Company as well as our clients. About Bitcoin Well Bitcoin Well offers convenient, secure and reliable ways to buy and sell bitcoin through a trusted Bitcoin ATM network and suite of web-based transaction services. Bitcoin Well is profitable and positioned to become the first publicly traded Bitcoin ATM company, with an enterprising consolidation strategy to deliver accretive and cost-effective expansion in North America and globally. As leaders of the longest-running, founder-led Bitcoin ATM company, management of Bitcoin Well brings deep operational capabilities that span the entire value chain along with access to proprietary, cutting-edge software development that supports further expansion. Follow us onLinkedIn,Twitter,YouTube,FacebookandInstagramto keep up to date with our business. Contact InformationFor further information, please contact: Bitcoin Well 10142 82 Avenue NWEdmonton, AB T6E 1Z4bitcoinwell.com Adam O’Brien, President & CEOTel: 1 888 711 3866 or Karen Smola, Marketing ManagerTel: 1 888 711 3866 Reader Advisory / Forward-Looking Statements Statements in this press release regarding Bitcoin Well which are not historical facts are “forward-looking statements” that involve risks and uncertainties, such as the timing of expansion plans and activities, the closing of the RTO and the timing thereof, as well as various business objectives. Such information can generally be identified by the use of forwarding-looking wording such as “may”, “expect”, “estimate”, “anticipate”, “intend”, “believe” and “continue” or the negative thereof or similar variations. Since forward-looking statements address future events and conditions, by their very nature, they involve inherent risks and uncertainties such as the risk that the closing may not occur for any reason. Actual results in each case could differ materially from those currently anticipated in such statements due to factors such as: (i) adverse market conditions and (ii) the need for additional financing. Except as required by law, Bitcoin Well does not intend to update any changes to such statements. Investors are cautioned that, except as disclosed in the filing statement prepared in connection with the RTO, any information released or received with respect to the transaction may not be accurate or complete and should not be relied upon. Non-IFRS Measures The Company uses certain terms in this news release and within the MD&A, such as ‘adjusted EBITDA’, which do not have a standardized or prescribed meaning under International Financial Reporting Standards (IFRS), and, accordingly these measurements may not be comparable with the calculation of similar measurements used by other companies. For a reconciliation of each non-IFRS measure to its nearest IFRS measure, please refer to the "Cautionary Note Regarding Forward-Looking Information” section in the MD&A for applicable definitions, calculations, rationale for use and reconciliations to the most directly comparable measure under IFRS. Non-IFRS measures are provided as supplementary information by which readers may wish to consider the Company's performance but should not be relied upon for comparative or investment purposes. The TSX Venture Exchange Inc. has in no way passed upon the merits of the RTO and has neither approved nor disapproved the contents of this press release. \|\| US STOCKS-Wall Street slips off record highs, Tesla drops after fatal crash: * Tesla falls after fatal crash, bitcoin slumps * GameStop shares jump as CEO exits * Coca-Cola rises as revenue beats estimates (Adds post 4 p.m. close data) By Herbert Lash NEW YORK, April 19 (Reuters) - U.S. stocks closed lower on Monday, slipping from last week's record levels, as investors awaited guidance from first-quarter earnings to justify high valuations, while Tesla Inc shares fell after a fatal car crash. The electric-car maker slid 3.4% after a Tesla vehicle believed to be operating without anyone in the driver's seat crashed into a tree on Saturday north of Houston, killing two occupants. The stock was the biggest drag on the S&P 500 and Nasdaq Composite Index. An 8.4% drop over the weekend in bitcoin, in which Tesla has an investment, also weighed on its share price. The S&P 500 was mostly lower, with Microsoft Corp, Amazon.com Inc and Nvidia Corp also weighing on the benchmark index as analysts await results this week and next that form the bulk of earnings season. Corporate outlooks should indicate to what degree the rally from last year's lows can continue. Analysts expect first-quarter earnings to have grown 30.9% from a year ago, according to Refinitiv IBES data. The U.S. economy is poised to boom as consumers hold $2 trillion in savings in excess of pre-pandemic levels, said Doug Peta, chief U.S. investment strategist at BCA Research, adding markets are in pause mode. "If indeed we do keep grinding higher that would be healthy, that would suggest that the grinding higher is sustainable," Peta said. "The pullbacks along the way are healthy." Real estate was the only one of the 11 S&P 500 sectors to post gains. Nvidia fell 3.5% after the UK government said it would look into the national security implications of Nvidia's purchase of British chip designer ARM Holdings, raising a question mark over the $40 billion deal. Coca-Cola Co rose 0.6% after the beverage maker trounced estimates for quarterly profit and revenue, benefiting from the easing of pandemic curbs and wide vaccine rollouts. Story continues International Business Machines Corp, another blue-chip company, slipped 0.4% ahead of its results due after the market close. "The market has had a huge jump to the upside so it needs to take a little bit of rest," said Peter Cardillo, chief market economist at Spartan Capital Securities in New York. "For now it's just a little bit of profit taking as traders await results from big tech names on Wall Street." The Dow Jones Industrial Average fell 123.04 points, or 0.36%, to 34,077.63. The S&P 500 lost 22.21 points, or 0.53%, at 4,163.26; while the Nasdaq Composite dropped 137.58 points, or 0.98%, to 13,914.77. Volume on U.S. exchanges was 9.86 billion shares. A recent retreat in benchmark 10-year Treasury yields from 14-month highs has helped high-flying technology stocks to rebound, while strong economic data has lifted the S&P 500 and the Dow to record levels. The S&P 500 has gained the past four weeks, its longest winning streak since August 2020. GameStop Corp jumped 6.3% on the announcement of its chief executive's resignation. Crypto stocks including miners Riot Blockchain and Marathon Digital each fell more than 8% as bitcoin took a hammering over the weekend. Bitcoin closed down 0.7%. Harley-Davidson Inc jumped 9.7% after the motorcycle maker raised it full-year forecast for sales growth. (Reporting by Shivani Kumaresan and Medha Singh in Bengaluru; Editing by Shounak Dasgupta, Bernard Orr and Richard Chang) \|\| US STOCKS-Wall Street slips off record highs, Tesla drops after fatal crash: * Tesla falls after fatal crash, bitcoin slumps * GameStop shares jump as CEO exits * Coca-Cola rises as revenue beats estimates (Adds post 4 p.m. close data) By Herbert Lash NEW YORK, April 19 (Reuters) - U.S. stocks closed lower on Monday, slipping from last week's record levels, as investors awaited guidance from first-quarter earnings to justify high valuations, while Tesla Inc shares fell after a fatal car crash. The electric-car maker slid 3.4% after a Tesla vehicle believed to be operating without anyone in the driver's seat crashed into a tree on Saturday north of Houston, killing two occupants. The stock was the biggest drag on the S&P 500 and Nasdaq Composite Index. An 8.4% drop over the weekend in bitcoin, in which Tesla has an investment, also weighed on its share price. The S&P 500 was mostly lower, with Microsoft Corp, Amazon.com Inc and Nvidia Corp also weighing on the benchmark index as analysts await results this week and next that form the bulk of earnings season. Corporate outlooks should indicate to what degree the rally from last year's lows can continue. Analysts expect first-quarter earnings to have grown 30.9% from a year ago, according to Refinitiv IBES data. The U.S. economy is poised to boom as consumers hold $2 trillion in savings in excess of pre-pandemic levels, said Doug Peta, chief U.S. investment strategist at BCA Research, adding markets are in pause mode. "If indeed we do keep grinding higher that would be healthy, that would suggest that the grinding higher is sustainable," Peta said. "The pullbacks along the way are healthy." Real estate was the only one of the 11 S&P 500 sectors to post gains. Nvidia fell 3.5% after the UK government said it would look into the national security implications of Nvidia's purchase of British chip designer ARM Holdings, raising a question mark over the $40 billion deal. Coca-Cola Co rose 0.6% after the beverage maker trounced estimates for quarterly profit and revenue, benefiting from the easing of pandemic curbs and wide vaccine rollouts. International Business Machines Corp, another blue-chip company, slipped 0.4% ahead of its results due after the market close. "The market has had a huge jump to the upside so it needs to take a little bit of rest," said Peter Cardillo, chief market economist at Spartan Capital Securities in New York. "For now it's just a little bit of profit taking as traders await results from big tech names on Wall Street." The Dow Jones Industrial Average fell 123.04 points, or 0.36%, to 34,077.63. The S&P 500 lost 22.21 points, or 0.53%, at 4,163.26; while the Nasdaq Composite dropped 137.58 points, or 0.98%, to 13,914.77. Volume on U.S. exchanges was 9.86 billion shares. A recent retreat in benchmark 10-year Treasury yields from 14-month highs has helped high-flying technology stocks to rebound, while strong economic data has lifted the S&P 500 and the Dow to record levels. The S&P 500 has gained the past four weeks, its longest winning streak since August 2020. GameStop Corp jumped 6.3% on the announcement of its chief executive's resignation. Crypto stocks including miners Riot Blockchain and Marathon Digital each fell more than 8% as bitcoin took a hammering over the weekend. Bitcoin closed down 0.7%. Harley-Davidson Inc jumped 9.7% after the motorcycle maker raised it full-year forecast for sales growth. (Reporting by Shivani Kumaresan and Medha Singh in Bengaluru; Editing by Shounak Dasgupta, Bernard Orr and Richard Chang) \|\| Stock market news live updates: Stocks pull back from record levels as tech stocks dive: Stocks fell Monday, with the S&P 500 and Dow retreating from record levels. [Click here to read what's moving markets heading into Tuesday, April 20] The Dow dropped more than 120 points, or 0.4%, after the index rallied to an all-time high of more than 34,000 last week. The S&P 500 also dipped below the index's record high, and the Nasdaq sank The 10-year Treasury yield rose to top 1.6%. Bitcoin (BTC-USD) prices steadied Monday afternoon after plunging swiftly over the weekend. Bitcoin sank as much as 15% on Sunday, and other major coins like Ether and XRP also dropped. Bitcoin prices had reached a record high of more than $64,000 on Wednesday as Coinbase Global (COIN), the largest cryptocurrency exchange in the U.S.,went public via a direct listing. For equities, however, volatility has subsided considerably in recent sessions. The CBOE Volatility Index, or VIX, hovered near a 14-month low as stocks remained close to all-time highs. "The S&P 500 has reached new highs while volatility has sharply declined. Low volatility has outweighed low correlations among stocks, driving return dispersion back below the long-term average," David Kostin, Goldman Sachs chief U.S. equity strategist, said in a note Monday. "As the U.S. moves beyond key macro events such as the 2020 election, the $1.9 trillion fiscal stimulus package, and peak economic activity, we expect three defining themes for markets will be tax reform, infrastructure, and pricing power," Kostin said. "The details of tax reform will drive wide variation in the size of the hit to company earnings, while only certain companies are likely to be direct beneficiaries of infrastructure spending," he added. "Similarly, the effect of rising input costs will vary depending on company margin profiles and ability to pass through costs to end consumers. These micro-driven catalysts should keep stock correlations low, but a return to a high dispersion environment will be challenging without an increase in volatility." Corporate earnings season will accelerate this week, with companies including Netflix (NFLX), Johnson & Johnson (JNJ), Snap (SNAP) and Intel (INTC) poised to report results. So far, about 9% of S&P 500 companies have reported first-quarter earnings results, with 81% of these companies having beaten expectations – matching the record high beat rate from 2008. "It’s not just cost-cutting delivering these results," Nicholas Colas, co-founder of DataTrek Research, said in a note Monday. "Revenue surprises are also at record levels: 84% of reporting companies have beaten top line expectations (old record in Q3 2020, 79%) and the mean revenue beat is 3.3 points ahead of Wall Street’s models (old record 2.9 points in Q4 2020)." "Q1 2021 corporate earnings reports thus far are showing both upside revenue surprises and solid incremental earnings leverage from those top-line beats," he added. "We have been relying on the latter to support our positive view on U.S. large caps, but it’s nice to see the former as well." — Here were the main moves in markets as of 4:04 p.m. ET: • S&P 500 (^GSPC): -22.14 (-0.53%) to 4,163.33 • Dow (^DJI): -121.26 (-0.35%) to 34,079.41 • Nasdaq (^IXIC): -137.58 (-0.98%) to 13,914.77 • Crude (CL=F): +$0.30 (+0.48%) to $63.43 a barrel • Gold (GC=F): -$9.60 (-0.54%) to $1,770.60 per ounce • 10-year Treasury (^TNX): +2.8 bps to yield 1.6010% — Here's where markets were trading Monday afternoon: • S&P 500 (^GSPC): -24.89 points (-0.59%) to 4,160.58 • Dow (^DJI): -163.31 points (-0.48%) to 34,037.36 • Nasdaq (^IXIC): -159.50 points (-1.14%) to 13,891.65 • Crude (CL=F): +$0.22 (+0.35%) to $63.35 a barrel • Gold (GC=F): -$8.30 (-0.47%) to $1,771.90 per ounce • 10-year Treasury (^TNX): +3 bps to yield 1.603% — Shares of Coinbase sank shortly after market open on Monday, adding to a stretch of volatile trading in the stock's short history on the public markets after Bitcoin prices plunged over the weekend. Coinbase shares dropped 2% around 9:45 a.m. in New York, even as bitcoin, ethereum and other crypto prices recovered. Other stocks closely tied to digital currencies, including Bit Digital (BTBT) and Marathon Digital (MARA), also fell Monday morning. — Here's where markets were trading after the opening bell on Monday: • S&P 500 (^GSPC): -5.95 points (-0.14%) to 4,179.52 • Dow (^DJI): -74.71 points (-0.22%) to 34,124.96 • Nasdaq (^IXIC): -39.75 points (-0.27%) to 14,013.82 • Crude (CL=F): +$0.01 (+0.02%) to $63.14 a barrel • Gold (GC=F): -$13.10 (-0.74%) to $1,767.10 per ounce • 10-year Treasury (^TNX): +3.6 bps to yield 1.608% — Coca-Cola (KO) postedfirst-quarter results that handily exceeded expectations, with the beverage giant offering signs of a strong consumer resurgence coming out of the COVID-19 pandemic. First-quarter comparable earnings per share were 55 cents, or 5 pennies ahead of estimates, on adjusted operating revenue of $9.02 billion. This top-line growth represented an increase of 5% over last year, for the first year-over-year rise since the first quarter of 2020. Unit case volumes returned to 2019 levels in March, Coca-Cola added. “We are encouraged by improvements in our business, especially in markets where vaccine availability is increasing and economies are opening up, and we remain confident in our full year guidance," Coca-Cola Company CEO James Quincey said in a press statement. — Here's where markets were trading Monday morning: • S&P 500 futures (ES=F): 4,168.00, down 8.25 point or 0.2% • Dow futures (YM=F): 34,016.00, down 65 points or 0.19% • Nasdaq futures (NQ=F):13,995.00, down 34.5 points or 0.25% • Crude (CL=F): -$0.14 (-0.22%) to $62.99 a barrel • Gold (GC=F): +$4.90 (+0.28%) to $1,785.10 per ounce • 10-year Treasury (^TNX): +0.5 bps to yield 1.578% — Emily McCormick is a reporter for Yahoo Finance.Follow her on Twitter: @emily_mcck Read more from Emily: • Charlie Munger on Robinhood and GameStop frenzy: 'It's a dirty way to make money' • Charlie Munger says Costco 'has one thing that Amazon does not have' • Labor market weakness could last ‘for several years’ in pandemic’s wake: economist • Credit Suisse boosts 2021 S&P 500 price target to 4,200 with more stimulus expected • What happened in the economy in 2020 • These tech jobs may disappear in the face of automation \|\| Stock market news live updates: Stocks pull back from record levels as tech stocks dive: Stocks fell Monday, with the S&P 500 and Dow retreating from record levels. [ Click here to read what's moving markets heading into Tuesday, April 20 ] The Dow dropped more than 120 points, or 0.4%, after the index rallied to an all-time high of more than 34,000 last week. The S&P 500 also dipped below the index's record high, and the Nasdaq sank The 10-year Treasury yield rose to top 1.6%. Bitcoin ( BTC-USD ) prices steadied Monday afternoon after plunging swiftly over the weekend. Bitcoin sank as much as 15% on Sunday, and other major coins like Ether and XRP also dropped. Bitcoin prices had reached a record high of more than $64,000 on Wednesday as Coinbase Global ( COIN ), the largest cryptocurrency exchange in the U.S., went public via a direct listing. For equities, however, volatility has subsided considerably in recent sessions. The CBOE Volatility Index, or VIX, hovered near a 14-month low as stocks remained close to all-time highs. "The S&P 500 has reached new highs while volatility has sharply declined. Low volatility has outweighed low correlations among stocks, driving return dispersion back below the long-term average," David Kostin, Goldman Sachs chief U.S. equity strategist, said in a note Monday. "As the U.S. moves beyond key macro events such as the 2020 election, the $1.9 trillion fiscal stimulus package, and peak economic activity, we expect three defining themes for markets will be tax reform, infrastructure, and pricing power," Kostin said. "The details of tax reform will drive wide variation in the size of the hit to company earnings, while only certain companies are likely to be direct beneficiaries of infrastructure spending," he added. "Similarly, the effect of rising input costs will vary depending on company margin profiles and ability to pass through costs to end consumers. These micro-driven catalysts should keep stock correlations low, but a return to a high dispersion environment will be challenging without an increase in volatility." Corporate earnings season will accelerate this week, with companies including Netflix ( NFLX ), Johnson & Johnson ( JNJ ), Snap ( SNAP ) and Intel ( INTC ) poised to report results. So far, about 9% of S&P 500 companies have reported first-quarter earnings results, with 81% of these companies having beaten expectations – matching the record high beat rate from 2008. "It’s not just cost-cutting delivering these results," Nicholas Colas, co-founder of DataTrek Research, said in a note Monday. "Revenue surprises are also at record levels: 84% of reporting companies have beaten top line expectations (old record in Q3 2020, 79%) and the mean revenue beat is 3.3 points ahead of Wall Street’s models (old record 2.9 points in Q4 2020)." Story continues "Q1 2021 corporate earnings reports thus far are showing both upside revenue surprises and solid incremental earnings leverage from those top-line beats," he added. "We have been relying on the latter to support our positive view on U.S. large caps, but it’s nice to see the former as well." — 4:04 p.m. ET: Stocks fall from record levels as technology shares drop; Dow ends 3-day winning streak Here were the main moves in markets as of 4:04 p.m. ET: S&P 500 ( ^GSPC ) : -22.14 (-0.53%) to 4,163.33 Dow ( ^DJI ) : -121.26 (-0.35%) to 34,079.41 Nasdaq ( ^IXIC ) : -137.58 (-0.98%) to 13,914.77 Crude ( CL=F ) : +$0.30 (+0.48%) to $63.43 a barrel Gold ( GC=F ) : -$9.60 (-0.54%) to $1,770.60 per ounce 10-year Treasury ( ^TNX ) : +2.8 bps to yield 1.6010% — 1:21 p.m. ET: Stocks hold lower, Nasdaq drops more than 1% Here's where markets were trading Monday afternoon: S&P 500 ( ^GSPC ) : -24.89 points (-0.59%) to 4,160.58 Dow ( ^DJI ) : -163.31 points (-0.48%) to 34,037.36 Nasdaq ( ^IXIC ) : -159.50 points (-1.14%) to 13,891.65 Crude ( CL=F ) : +$0.22 (+0.35%) to $63.35 a barrel Gold ( GC=F ) : -$8.30 (-0.47%) to $1,771.90 per ounce 10-year Treasury ( ^TNX ) : +3 bps to yield 1.603% — 9:43 a.m. ET: Coinbase, crypto-related stocks tumble after Bitcoin flash crash Shares of Coinbase sank shortly after market open on Monday, adding to a stretch of volatile trading in the stock's short history on the public markets after Bitcoin prices plunged over the weekend. Coinbase shares dropped 2% around 9:45 a.m. in New York, even as bitcoin, ethereum and other crypto prices recovered. Other stocks closely tied to digital currencies, including Bit Digital ( BTBT ) and Marathon Digital ( MARA ), also fell Monday morning. — 9:31 a.m. ET: Stocks open slightly lower Here's where markets were trading after the opening bell on Monday: S&P 500 ( ^GSPC ) : -5.95 points (-0.14%) to 4,179.52 Dow ( ^DJI ) : -74.71 points (-0.22%) to 34,124.96 Nasdaq ( ^IXIC ) : -39.75 points (-0.27%) to 14,013.82 Crude ( CL=F ) : +$0.01 (+0.02%) to $63.14 a barrel Gold ( GC=F ) : -$13.10 (-0.74%) to $1,767.10 per ounce 10-year Treasury ( ^TNX ) : +3.6 bps to yield 1.608% — 8:27 a.m. ET: Coca-Cola shares rise after Q1 results beat estimates, with post-pandemic recovery helping boost sales Coca-Cola ( KO ) posted first-quarter results that handily exceeded expectations , with the beverage giant offering signs of a strong consumer resurgence coming out of the COVID-19 pandemic. First-quarter comparable earnings per share were 55 cents, or 5 pennies ahead of estimates, on adjusted operating revenue of $9.02 billion. This top-line growth represented an increase of 5% over last year, for the first year-over-year rise since the first quarter of 2020. Unit case volumes returned to 2019 levels in March, Coca-Cola added. “We are encouraged by improvements in our business, especially in markets where vaccine availability is increasing and economies are opening up, and we remain confident in our full year guidance," Coca-Cola Company CEO James Quincey said in a press statement. — 7:15 a.m. ET Monday: Stock futures pull back from record levels Here's where markets were trading Monday morning: S&P 500 futures ( ES=F ) : 4,168.00, down 8.25 point or 0.2% Dow futures ( YM=F ) : 34,016.00, down 65 points or 0.19% Nasdaq futures ( NQ=F ): 13,995.00, down 34.5 points or 0.25% Crude ( CL=F ) : -$0.14 (-0.22%) to $62.99 a barrel Gold ( GC=F ) : +$4.90 (+0.28%) to $1,785.10 per ounce 10-year Treasury ( ^TNX ) : +0.5 bps to yield 1.578% The Fearless Girl statue is seen outside the New York Stock Exchange (NYSE) in New York, U.S., February 12, 2021. REUTERS/Brendan McDermid (Brendan McDermid / reuters) — Emily McCormick is a reporter for Yahoo Finance. Follow her on Twitter: @emily_mcck Read more from Emily: Charlie Munger on Robinhood and GameStop frenzy: 'It's a dirty way to make money' Charlie Munger says Costco 'has one thing that Amazon does not have' Labor market weakness could last ‘for several years’ in pandemic’s wake: economist Credit Suisse boosts 2021 S&P 500 price target to 4,200 with more stimulus expected What happened in the economy in 2020 These tech jobs may disappear in the face of automation View comments \|\| DOGE Fans to Celebrate ‘DOGE Day’ as Price Hits the Roof: Dogecoin’s (DOGE) rally has generated a frenzy amongst hodlers. They want to make April 20 the “DOGE day.” DOGE has soared to reach its all time high of $0.41 on April 19. The coin, which was created as a joke, has nowgained428.2% in seven days. The current state of the cryptocurrency markets has generated mixed feelings in different camps. Bitcoin (BTC) and major altcoinsplummeted over the weekend. Many felt it was long overdue as the markets had risen massively. In fact, the total cryptocurrency market cap momentarilycrossed the $2 trillionmark. It experienced asharp declineafter the bloodbath. Bitcoin nose-dived and quickly settled around the $55,000 mark. There has, however, been a celebration in the DOGE camp amidst the bloodbath. The meme-inspired coin hascontinued to exceed expectations, gaining 25% in the last 24-hours. On the seven-day chart, dogecoin is up by over 400%. Its market cap is now north of $55 billion. In the wake of the recent surge, DOGE aficionados haveset aside April 20 to commemorate the coin. They call it “DOGE day.” Many hodlers have expressed enthusiasm for the coin, and celebrations have already begun on social media. Inspired by the rally, Mark Cuban said that Mavericks would not sell dogecoin gained from sales. Early this year, the Dallas-based NBA team startedaccepting dogecoinpayments on its online store. Cuban is thrilled by the surge in sales and the dogecoin price, and he’s apparently in for a long ride. Additionally, Tesla CEO, Elon Musk is one of the high-profile advocates of DOGE. He has made several tweets that sent the coin’s price soaring. His most recent tweet sent thecoin’s price to a new all-time high. [Social Media Buzz] None available.	53906.09, 51762.27, 51093.65, 50050.87, 49004.25, 54021.75, 55033.12, 54824.70, 53555.11, 57750.18
Given the historical Bitcoin prices from the last 90 days, predict the next 10 daily closing prices. The historical prices are: 2730.40, 2754.86, 2576.48, 2529.45, 2671.78, 2809.01, 2726.45, 2757.18, 2875.34, 2718.26, 2710.67, 2804.73, 2895.89, 3252.91, 3213.94, 3378.94, 3419.94, 3342.47, 3381.28, 3650.62, 3884.71, 4073.26, 4325.13, 4181.93, 4376.63, 4331.69, 4160.62, 4193.70, 4087.66, 4001.74, 4100.52, 4151.52, 4334.68, 4371.60, 4352.40, 4382.88, 4382.66, 4579.02, 4565.30, 4703.39, 4892.01, 4578.77, 4582.96, 4236.31, 4376.53, 4597.12, 4599.88, 4228.75, 4226.06, 4122.94, 4161.27, 4130.81, 3882.59, 3154.95, 3637.52, 3625.04, 3582.88, 4065.20, 3924.97, 3905.95, 3631.04, 3630.70, 3792.40, 3682.84, 3926.07, 3892.35, 4200.67, 4174.73, 4163.07, 4338.71, 4403.74, 4409.32, 4317.48, 4229.36, 4328.41, 4370.81, 4426.89, 4610.48, 4772.02, 4781.99, 4826.48, 5446.91, 5647.21, 5831.79, 5678.19, 5725.59, 5605.51, 5590.69, 5708.52, 6011.45.	[Bitcoin Technical Analysis for 2017-10-20] Volume: 2354429952, RSI (14-day): 77.03, 50-day EMA: 4595.45, 200-day EMA: 3233.30 [Wider Market Context] Gold Price: 1277.40, Gold RSI: 43.32 Oil Price: 51.47, Oil RSI: 55.77 [Recent News (last 7 days)] Why Sally Beauty Holdings, Inc. (SBH) Shares Are Sinking Today: Sally Beauty Holdings, Inc.(NYSE:SBH) shares took a dip Thursday as the company may be the subject of a takeover soon. Source:Flickr Amazon.com, Inc.(NASDAQ:AMZN) may place a bid toacquire the beauty supplies provider, according to a report fromD.A. Davidson. The move would help the e-commerce retailer reach other industries. InvestorPlace - Stock Market News, Stock Advice & Trading Tips “Beauty has been a hard category to crack for AMZN, and it has entered a partnership with SBH to test in the Dallas area same-day delivery of beauty orders fulfilled by Sally Beauty retail store,” said D.A. Davidson analyst Linda Bolton Weiser. Sally Beauty is already the retail partner of Amazon in the beauty industry due to the former’s large presence in the U.S., where it owns more than 2,900 stores and a high gross margin of 55%. Weiser added that Amazon’s decision to attempt to purchase Sally Beauty does not come from a desire to compete with large retail rivals. “Rather, it’s strategy is to keep raising the percentage of sales from exclusive products over time, which enhances gross margin,” said Weiser. About 50% of Sally Beauty’s sales come from private label products or products that are exclusive to the store. Plus, adding the company to Amazon’s fold would help bring in another slate of customers with a new loyalty program that would enhance its gross margin. SBH stock fell 5.2% Thursday. AMZN shares fell 1.1% during regular trading hours. • 5 Bitcoin Stocks to Buy for Low-Risk Cryptocurrency Profits • 7 Stocks to Buy Before the Holidays • Kroger Co Stock Has Way More Upside Than You Think The postWhy Sally Beauty Holdings, Inc. (SBH) Shares Are Sinking Todayappeared first onInvestorPlace. \|\| Why Sally Beauty Holdings, Inc. (SBH) Shares Are Sinking Today: Sally Beauty Holdings, Inc. (NYSE: SBH ) shares took a dip Thursday as the company may be the subject of a takeover soon. Sally Beauty Holdings, Inc. (SBH) Source: Flickr Amazon.com, Inc. (NASDAQ: AMZN ) may place a bid to acquire the beauty supplies provider , according to a report from D.A. Davidson . The move would help the e-commerce retailer reach other industries. InvestorPlace - Stock Market News, Stock Advice & Trading Tips “Beauty has been a hard category to crack for AMZN, and it has entered a partnership with SBH to test in the Dallas area same-day delivery of beauty orders fulfilled by Sally Beauty retail store,” said D.A. Davidson analyst Linda Bolton Weiser. Sally Beauty is already the retail partner of Amazon in the beauty industry due to the former’s large presence in the U.S., where it owns more than 2,900 stores and a high gross margin of 55%. Weiser added that Amazon’s decision to attempt to purchase Sally Beauty does not come from a desire to compete with large retail rivals. “Rather, it’s strategy is to keep raising the percentage of sales from exclusive products over time, which enhances gross margin,” said Weiser. About 50% of Sally Beauty’s sales come from private label products or products that are exclusive to the store. Plus, adding the company to Amazon’s fold would help bring in another slate of customers with a new loyalty program that would enhance its gross margin. SBH stock fell 5.2% Thursday. AMZN shares fell 1.1% during regular trading hours. More From InvestorPlace 5 Bitcoin Stocks to Buy for Low-Risk Cryptocurrency Profits 7 Stocks to Buy Before the Holidays Kroger Co Stock Has Way More Upside Than You Think The post Why Sally Beauty Holdings, Inc. (SBH) Shares Are Sinking Today appeared first on InvestorPlace . \|\| Blue Apron Layoffs: 300+ Employees Get Chopped: Blue Apron Holdings Inc (NYSE: APRN ) announced that it would be cutting down its workforce by 6%. Blue Apron The food delivery service has about 5,000 workers, so a 6% cut would amount to roughly 300 workers . The move is a shock from Blue Apron, which went public a few months ago, in June. The IPO performed poorly following Amazon.com, Inc’s (NASDAQ: AMZN ) decision to acquire Whole Foods around the same time and launching a meal-delivery service through Whole Foods, which took a bite out of Blue Apron’s business. InvestorPlace - Stock Market News, Stock Advice & Trading Tips The company’s workforce reduction filing also mentioned that it plants to incur about $3.5 million in expenses in its fiscal fourth quarter. Blue Apron CEO Matt Salzberg spoke of the matter, noting that a company-wide realignment is a painful one and it was a hard decision for the Board. The company hopes to move forward by bringing in more growth and achieving profitability. “The actions that we took today flowed from the roadmapping and reprioritization exercise that we recently undertook,” Salzberg said. “As part of that work, we identified the need to reduce some roles, open others, and streamline decision making for greater accountability. Wherever possible, we sought to fill new roles with existing employees,” he added. Salzberg also mentioned that many of the workers Blue Apron parted with are talented and important individuals who simply had to be let go to cut down on costs. APRN shares fell 1.6% Thursday. More From InvestorPlace 5 Bitcoin Stocks to Buy for Low-Risk Cryptocurrency Profits 7 Stocks to Buy Before the Holidays Kroger Co Stock Has Way More Upside Than You Think The post Blue Apron Layoffs: 300+ Employees Get Chopped appeared first on InvestorPlace . \|\| Blue Apron Layoffs: 300+ Employees Get Chopped: Blue Apron Holdings Inc(NYSE:APRN) announced that it would be cutting down its workforce by 6%. The food delivery service has about 5,000 workers, so a 6% cut would amountto roughly 300 workers. The move is a shock from Blue Apron, which went public a few months ago, in June. The IPO performed poorly followingAmazon.com, Inc’s(NASDAQ:AMZN) decision to acquireWhole Foodsaround the same time and launching a meal-delivery service through Whole Foods, which took a bite out of Blue Apron’s business. InvestorPlace - Stock Market News, Stock Advice & Trading Tips The company’s workforce reduction filing also mentioned that it plants to incur about $3.5 million in expenses in its fiscal fourth quarter. Blue Apron CEO Matt Salzberg spoke of the matter, noting that a company-wide realignment is a painful one and it was a hard decision for the Board. The company hopes to move forward by bringing in more growth and achieving profitability. “The actions that we took today flowed from the roadmapping and reprioritization exercise that we recently undertook,” Salzberg said. “As part of that work, we identified the need to reduce some roles, open others, and streamline decision making for greater accountability. Wherever possible, we sought to fill new roles with existing employees,” he added. Salzberg also mentioned that many of the workers Blue Apron parted with are talented and important individuals who simply had to be let go to cut down on costs. APRN shares fell 1.6% Thursday. • 5 Bitcoin Stocks to Buy for Low-Risk Cryptocurrency Profits • 7 Stocks to Buy Before the Holidays • Kroger Co Stock Has Way More Upside Than You Think The postBlue Apron Layoffs: 300+ Employees Get Choppedappeared first onInvestorPlace. \|\| Why Adobe Systems Incorporated (ADBE) Stock Is Soaring Today: Adobe Systems Incorporated(NASDAQ:ADBE) unveiled its latest quarterly earnings guidance Thursday. The company revealed thatit expects revenueto be about $8.7 billion for fiscal 2018, marking a 20% increase compared to its fiscal 2017 sales, also topping Wall Street’s consensus estimate of $8.6 billion, according to data compiled byFactSet. In the earnings front, Adobe expects profit to be $5.50 per share on an adjusted basis, higher than analysts’ projections of $5.21 per share, also based on data compiled by FactSet. InvestorPlace - Stock Market News, Stock Advice & Trading Tips Its cloud bookings are slated to grow 20% compared to the year-ago period. The forecast reflects “our continued momentum and leadership,” CEO Shantanu Narayen said in a statement. For its fourth quarter, Adobe said it’s on track to garner revenue of $1.95 billion, in line with analysts’ consensus estimate of $1.95 billion, according to FactSet. Earnings will come in at $1.15 per share, the company says, below analysts’ prediction of $1.16 per share. Adobe also provided more details regarding its Sensei AI platform this week at its Max conference. The concept was introduced about a year ago. “When one of the very best artists in Photoshop spends hours in creation, what are the other things they do and maybe more importantly, what are the things they don’t do?” said Adobe CTO Abhay Parasnis in a press conference. “We are trying to harness that and marry that with the latest advances in deep learning so that the algorithms can actually become partners for that creative professional.” ADBE stock gained 12.1% Thursday. • 5 Bitcoin Stocks to Buy for Low-Risk Cryptocurrency Profits • 7 Stocks to Buy Before the Holidays • Kroger Co Stock Has Way More Upside Than You Think The postWhy Adobe Systems Incorporated (ADBE) Stock Is Soaring Todayappeared first onInvestorPlace. \|\| Why Adobe Systems Incorporated (ADBE) Stock Is Soaring Today: Adobe Systems Incorporated (NASDAQ: ADBE ) unveiled its latest quarterly earnings guidance Thursday. Adobe Systems Incorporated (ADBE) The company revealed that it expects revenue to be about $8.7 billion for fiscal 2018, marking a 20% increase compared to its fiscal 2017 sales, also topping Wall Street’s consensus estimate of $8.6 billion, according to data compiled by FactSet . In the earnings front, Adobe expects profit to be $5.50 per share on an adjusted basis, higher than analysts’ projections of $5.21 per share, also based on data compiled by FactSet. InvestorPlace - Stock Market News, Stock Advice & Trading Tips Its cloud bookings are slated to grow 20% compared to the year-ago period. The forecast reflects “our continued momentum and leadership,” CEO Shantanu Narayen said in a statement. For its fourth quarter, Adobe said it’s on track to garner revenue of $1.95 billion, in line with analysts’ consensus estimate of $1.95 billion, according to FactSet. Earnings will come in at $1.15 per share, the company says, below analysts’ prediction of $1.16 per share. Adobe also provided more details regarding its Sensei AI platform this week at its Max conference. The concept was introduced about a year ago. “When one of the very best artists in Photoshop spends hours in creation, what are the other things they do and maybe more importantly, what are the things they don’t do?” said Adobe CTO Abhay Parasnis in a press conference. “We are trying to harness that and marry that with the latest advances in deep learning so that the algorithms can actually become partners for that creative professional.” ADBE stock gained 12.1% Thursday. More From InvestorPlace 5 Bitcoin Stocks to Buy for Low-Risk Cryptocurrency Profits 7 Stocks to Buy Before the Holidays Kroger Co Stock Has Way More Upside Than You Think The post Why Adobe Systems Incorporated (ADBE) Stock Is Soaring Today appeared first on InvestorPlace . \|\| Market Snapshot – Stocks Correct Lower: Therisky assets did not faretoo well today as the Chinese data weighed on the markets today and kept them under pressure. The DAX corrected lower today after breaking through to new highs yesterday and this was the case with most stock market around the world which have been making highs followed by periods of correction, something that we saw today. This is likely to continue for the short and medium term as long as the tension in the Korean region does not interfere with the flow of the markets. The tension there has always been around the corner as far as the markets are concerned and this has been making it difficult to trade the stock markets with abandon. Thepound and the euro continueto remain under pressure as the dollar remained steady across the board. The market is looking forward to the reports on who the next Fed chair would be and it is widely expected to be a hawkish member and if that happens, then we could see the dollar pushing even higher against the other currencies. There is a bit of lack of data in the markets this week and the next as we are in the second half of the month and hence the market has to depend on such economic news to spur itself into volatility. Thisarticlewas originally posted on FX Empire • Crude Oil Price Analysis for October 20, 2017 • Bullish Power on the EURUSD, AUDNZD and AUDUSD • Bitcoin Runs In Two Price Channels With Different Time Frame • Nikkei and Dow Jones Industrials at Record Highs, US Futures Lower, Gold Rises • EUR/USD Mid-Session Technical Analysis for October 19, 2017 • Natural Gas Price Analysis for October 20, 2017 \|\| Market Snapshot – Stocks Correct Lower: Stocks Correct on Weak Chinese Data The risky assets did not fare too well today as the Chinese data weighed on the markets today and kept them under pressure. The DAX corrected lower today after breaking through to new highs yesterday and this was the case with most stock market around the world which have been making highs followed by periods of correction, something that we saw today. This is likely to continue for the short and medium term as long as the tension in the Korean region does not interfere with the flow of the markets. The tension there has always been around the corner as far as the markets are concerned and this has been making it difficult to trade the stock markets with abandon. Pound Remains Under Pressure The pound and the euro continue to remain under pressure as the dollar remained steady across the board. The market is looking forward to the reports on who the next Fed chair would be and it is widely expected to be a hawkish member and if that happens, then we could see the dollar pushing even higher against the other currencies. There is a bit of lack of data in the markets this week and the next as we are in the second half of the month and hence the market has to depend on such economic news to spur itself into volatility. This article was originally posted on FX Empire More From FXEMPIRE: Crude Oil Price Analysis for October 20, 2017 Bullish Power on the EURUSD, AUDNZD and AUDUSD Bitcoin Runs In Two Price Channels With Different Time Frame Nikkei and Dow Jones Industrials at Record Highs, US Futures Lower, Gold Rises EUR/USD Mid-Session Technical Analysis for October 19, 2017 Natural Gas Price Analysis for October 20, 2017 \|\| 3 Stocks to Watch on Thursday: Crown Holdings, Inc. (CCK), Kinder Morgan Inc (KMI) and United Rentals, Inc. (URI): It was a strong day for theDow Jones Industrial Average, which finished above 23,000 for the first time ever, while gold lost 0.2%. The Dow surged 0.7%, while theS&P 500 Indexgained 0.1% and theNasdaq Compositegained a fraction. Several companies posted earnings after hours Wednesday, includingCrown Holdings, Inc.(NYSE:CCK),Kinder Morgan Inc(NYSE:KMI) andUnited Rentals, Inc.(NYSE:URI). Crown Holdings shares rose after the company’s encouragingquarterly earnings beat. InvestorPlace - Stock Market News, Stock Advice & Trading Tips The company said that it earned $1.32 per share, or $1.41 per share on an adjusted basis for its third quarter, compared to the consensus estimate of $1.41 per share, according toThomson Reuters. The figure was above the year-ago earnings of $1.33 per share On the revenue front, Crown Holdings posted sales of $2.47 billion, a 6% increase year-over-year, when it brought in $2.33 billion. Analysts were calling for revenue of $2.4 billion. • 10 Blue-Chip Dividend Stocks to Buy for 2018 For its fourth quarter of fiscal 2017, Crown Holdings predicts it will earn 75 to 80 cents per share, in line with Wall Street’s guidance of 79 cents per share. CCK stock surged 0.3% after the bell Wednesday. Kinder Morganposted its quarterly resultsyesterday. For its third quarter, the company posted adjusted earnings of 15 cents per share, which was in line with the year-ago earnings of 15 cents per share. Analysts called for earnings of 15 cents per share. Revenue came in at $3.28 billion for Kinder Morgan, which was below the year-ago revenue of $3.33 billion. Wall Street’s guidance was for revenue of $3.25 billion. The company reiterated its plan to pay 12.5 cents per share in its quarterly dividend in 2017. The figure will raise to 20 cents per share next year, and the company plans to use its cash in excess of dividend payments to fund growth investments and strengthen its balance sheet. KMI stock gained 1.6% after hours yesterday. United Rentals shares also hiked upon the company’s results. For its third quarter, the company earned $3.25 per diluted share, a massive improvement compared to the $2.58 per share it brought in over the same period last year. United Rentals’ revenue amounted to $1.76 billion, including rental revenue of $1.53 billion. Total revenue surged more than 17% year-over-year, while rental revenue gained 16%. • Why Twitter Inc (TWTR) Stock Earnings Next Week Could Be Rough Within the rental revenue segment, owned equipment rental revenue popped 15.8%, its Pro forma rental revenue hiked up 8.9% year-over-year, marking a growth of 7.6% in the volume of equipment on rent, while rental rents surged 0.9%. URI stock grew 2% after the bell Wednesday. As of this writing, Karl Utermohlen didn’t have a position in any of the aforementioned securities. • 5 Bitcoin Stocks to Buy for Low-Risk Cryptocurrency Profits • 7 Stocks to Buy Before the Holidays • Kroger Co Stock Has Way More Upside Than You Think The post3 Stocks to Watch on Thursday: Crown Holdings, Inc. (CCK), Kinder Morgan Inc (KMI) and United Rentals, Inc. (URI)appeared first onInvestorPlace. \|\| 3 Stocks to Watch on Thursday: Crown Holdings, Inc. (CCK), Kinder Morgan Inc (KMI) and United Rentals, Inc. (URI): It was a strong day for the Dow Jones Industrial Average , which finished above 23,000 for the first time ever, while gold lost 0.2%. The Dow surged 0.7%, while the S&P 500 Index gained 0.1% and the Nasdaq Composite gained a fraction. 3 Stocks to Watch on Thursday: Crown Holdings, Inc. (CCK), Kinder Morgan Inc (KMI) and United Rentals, Inc. (URI) Several companies posted earnings after hours Wednesday, including Crown Holdings, Inc. (NYSE: CCK ), Kinder Morgan Inc (NYSE: KMI ) and United Rentals, Inc. (NYSE: URI ). Crown Holdings, Inc. (CCK) Crown Holdings shares rose after the company’s encouraging quarterly earnings beat . InvestorPlace - Stock Market News, Stock Advice & Trading Tips The company said that it earned $1.32 per share, or $1.41 per share on an adjusted basis for its third quarter, compared to the consensus estimate of $1.41 per share, according to Thomson Reuters . The figure was above the year-ago earnings of $1.33 per share On the revenue front, Crown Holdings posted sales of $2.47 billion, a 6% increase year-over-year, when it brought in $2.33 billion. Analysts were calling for revenue of $2.4 billion. 10 Blue-Chip Dividend Stocks to Buy for 2018 For its fourth quarter of fiscal 2017, Crown Holdings predicts it will earn 75 to 80 cents per share, in line with Wall Street’s guidance of 79 cents per share. CCK stock surged 0.3% after the bell Wednesday. Kinder Morgan Inc (KMI) Kinder Morgan posted its quarterly results yesterday. For its third quarter, the company posted adjusted earnings of 15 cents per share, which was in line with the year-ago earnings of 15 cents per share. Analysts called for earnings of 15 cents per share. Revenue came in at $3.28 billion for Kinder Morgan, which was below the year-ago revenue of $3.33 billion. Wall Street’s guidance was for revenue of $3.25 billion. The company reiterated its plan to pay 12.5 cents per share in its quarterly dividend in 2017. The figure will raise to 20 cents per share next year, and the company plans to use its cash in excess of dividend payments to fund growth investments and strengthen its balance sheet. Story continues KMI stock gained 1.6% after hours yesterday. United Rentals, Inc. (URI) United Rentals shares also hiked up on the company’s results . For its third quarter, the company earned $3.25 per diluted share, a massive improvement compared to the $2.58 per share it brought in over the same period last year. United Rentals’ revenue amounted to $1.76 billion, including rental revenue of $1.53 billion. Total revenue surged more than 17% year-over-year, while rental revenue gained 16%. Why Twitter Inc (TWTR) Stock Earnings Next Week Could Be Rough Within the rental revenue segment, owned equipment rental revenue popped 15.8%, its Pro forma rental revenue hiked up 8.9% year-over-year, marking a growth of 7.6% in the volume of equipment on rent, while rental rents surged 0.9%. URI stock grew 2% after the bell Wednesday. As of this writing, Karl Utermohlen didn’t have a position in any of the aforementioned securities. More From InvestorPlace 5 Bitcoin Stocks to Buy for Low-Risk Cryptocurrency Profits 7 Stocks to Buy Before the Holidays Kroger Co Stock Has Way More Upside Than You Think The post 3 Stocks to Watch on Thursday: Crown Holdings, Inc. (CCK), Kinder Morgan Inc (KMI) and United Rentals, Inc. (URI) appeared first on InvestorPlace . \|\| Augusta Dragic - Discusses Using Digital Currency for Online Betting: BUCHAREST, ROMANIA / ACCESSWIRE / October 18, 2017 /As blockchain technology has found a broader level of acceptance over the past several years, digital currencies have begun to gain popularity among online gambling platforms.Augusta Dragic, the director of human resources with Romanian sports bookmaker SuperBet, recently discussed the reasons why wagering sites prefer to offer Bitcoin and other forms of cryptocurrency to their customers. While gambling is completely legal in most parts of the world, many betters wish to operate with a certain level of discretion, andAugusta Dragicnotes that digital currencies offer an unparalleled amount of privacy. Customers are able to send and receive Bitcoins without providing any personal identification information. Transactions are instead carried out through an anonymous pseudonym, which the user may or may not choose to link to their real identity. Similarly, when used correctly, the coins are more secure than credit cards or Paypal. Bitcoins are protected with individual private keys and digital wallet passwords that are not stored on any servers. Executions are also incredibly fast - most transactions are confirmed within minutes. In rare cases, some have taken up to an hour. By comparison, ACH bank transfer can take up to five business days to complete - international ones a week or more. With reputable gaming platforms akin to SuperBet, gamers can fund their accounts or make withdrawals instantly. As a result of their efficient nature, digital currencies are also much cheaper to use. Bitcoin fees are a fraction of those associated with traditional online payments, meaning players get to keep a significantly larger percentage of their winnings and the operator saves on credit card fees. Most important, said Dragic, is the origin of these cryptocurrencies. Because they were created on the Internet, they are near perfectly optimized for online gambling platforms. Traditional financial institutions' sluggish and inefficient qualities make it apparent they were never meant to be used in a digital age. Bitcoin eliminates the need for banks and credit cards while guaranteeing a superior level of privacy, security, and ease of use. Augusta Dragicholds an executive position at Superbet, Central and Eastern Europe's market-leading sports betting operator. Founded in 2009, the company offers the best odds and the widest range of online betting, slots, live casinos, virtual games and lotteries. Dragic, with the support of an executive team comprised of members with extensive gaming experience at the national and international levels, has grown Superbet to over 2,000 employees. Her superior management skills and ability to coordinate with other successful businesses has resulted in Superbet being recognized as Europe's fastest rising company in the betting and gaming center. In August, Dragic announced the network opened their 600thagency and is scheduled to launch operations in Poland during the second half of 2017. Augusta Dragic - HR Director at Superbet:http://augustadragicnews.comAugusta Valeria Dragic - Profile professional - LinkedIn:https://www.linkedin.com/in/augusta-valeria-dragic-2a8a59b/SuperBet wants to expand in the international market - 5star.media:https://5star.media/2017/05/19/superbet-wants-expand-international-market/ Contact Information: AugustaDragicNews.comhttp://[email protected] SOURCE:Augusta Dragic \|\| Augusta Dragic - Discusses Using Digital Currency for Online Betting: BUCHAREST, ROMANIA / ACCESSWIRE / October 18, 2017 / As blockchain technology has found a broader level of acceptance over the past several years, digital currencies have begun to gain popularity among online gambling platforms. Augusta Dragic , the director of human resources with Romanian sports bookmaker SuperBet, recently discussed the reasons why wagering sites prefer to offer Bitcoin and other forms of cryptocurrency to their customers. While gambling is completely legal in most parts of the world, many betters wish to operate with a certain level of discretion, and Augusta Dragic notes that digital currencies offer an unparalleled amount of privacy. Customers are able to send and receive Bitcoins without providing any personal identification information. Transactions are instead carried out through an anonymous pseudonym, which the user may or may not choose to link to their real identity. Similarly, when used correctly, the coins are more secure than credit cards or Paypal. Bitcoins are protected with individual private keys and digital wallet passwords that are not stored on any servers. Executions are also incredibly fast - most transactions are confirmed within minutes. In rare cases, some have taken up to an hour. By comparison, ACH bank transfer can take up to five business days to complete - international ones a week or more. With reputable gaming platforms akin to SuperBet, gamers can fund their accounts or make withdrawals instantly. As a result of their efficient nature, digital currencies are also much cheaper to use. Bitcoin fees are a fraction of those associated with traditional online payments, meaning players get to keep a significantly larger percentage of their winnings and the operator saves on credit card fees. Most important, said Dragic, is the origin of these cryptocurrencies. Because they were created on the Internet, they are near perfectly optimized for online gambling platforms. Traditional financial institutions' sluggish and inefficient qualities make it apparent they were never meant to be used in a digital age. Bitcoin eliminates the need for banks and credit cards while guaranteeing a superior level of privacy, security, and ease of use. Story continues Augusta Dragic holds an executive position at Superbet, Central and Eastern Europe's market-leading sports betting operator. Founded in 2009, the company offers the best odds and the widest range of online betting, slots, live casinos, virtual games and lotteries. Dragic, with the support of an executive team comprised of members with extensive gaming experience at the national and international levels, has grown Superbet to over 2,000 employees. Her superior management skills and ability to coordinate with other successful businesses has resulted in Superbet being recognized as Europe's fastest rising company in the betting and gaming center. In August, Dragic announced the network opened their 600 th agency and is scheduled to launch operations in Poland during the second half of 2017. Augusta Dragic - HR Director at Superbet: http://augustadragicnews.com Augusta Valeria Dragic - Profile professional - LinkedIn: https://www.linkedin.com/in/augusta-valeria-dragic-2a8a59b/ SuperBet wants to expand in the international market - 5star.media: https://5star.media/2017/05/19/superbet-wants-expand-international-market/ Contact Information: AugustaDragicNews.com http://augustadragicnews.com [email protected] SOURCE: Augusta Dragic \|\| eBay Inc (EBAY) Q3 Adjusted Earnings in Line With Expectations: eBay Inc(NASDAQ:EBAY) reported on its latest quarter late Wednesday. Source:Mike Knell via Flickr DON’T USE OLD LOGO For its third quarter, the online auction giantsaid it earned $514 million, or 48 cents per share, while non-GAAP earnings were also 48 cents per share. Analysts were calling for profit of 48 cents per share. InvestorPlace - Stock Market News, Stock Advice & Trading Tips Revenue was also similar to what the Wall Street consensus estimate called for as eBay raked in $2.4 billion in sales versus an outlook of $2.37 billion. The figure was a 9% improvement compared to the year-ago period. The company added that its gross merchandise volume (GMV) amounted to $21.7 billion, most of which came from eBay’s Marketplace platforms. The company has geared a large portion of its technology and marketing efforts towards this segment, which brought in $20.5 billion of GMV and $1.9 billion of revenue. “In Q3, we drove acceleration across all three of our platforms, delivering strong top and bottom line financial results and our fastest volume growth in over three years,” said eBay CEO Devin Wenig. “Our customers are responding to the significant product enhancements we have been making, and this is reflected in our results.” The company also said it added 2 million active buyers across its platforms, now reaching 168 million. For its fourth quarter, eBay predicts it will rake in $2.58 billion and $2.62 billion in revenue, while earnings are slated to be between 57 and 59 cents per share on an adjusted basis. EBAY stock rose 1.3% during regular trading hours, but the earnings call unveiled after the bell saw shares fall 5.4%. • 5 Bitcoin Stocks to Buy for Low-Risk Cryptocurrency Profits • 7 Stocks to Buy Before the Holidays • Kroger Co Stock Has Way More Upside Than You Think The posteBay Inc (EBAY) Q3 Adjusted Earnings in Line With Expectationsappeared first onInvestorPlace. \|\| eBay Inc (EBAY) Q3 Adjusted Earnings in Line With Expectations: eBay Inc (NASDAQ: EBAY ) reported on its latest quarter late Wednesday. eBay Inc (EBAY) Source: Mike Knell via Flickr DON’T USE OLD LOGO For its third quarter, the online auction giant said it earned $514 million , or 48 cents per share, while non-GAAP earnings were also 48 cents per share. Analysts were calling for profit of 48 cents per share. InvestorPlace - Stock Market News, Stock Advice & Trading Tips Revenue was also similar to what the Wall Street consensus estimate called for as eBay raked in $2.4 billion in sales versus an outlook of $2.37 billion. The figure was a 9% improvement compared to the year-ago period. The company added that its gross merchandise volume (GMV) amounted to $21.7 billion, most of which came from eBay’s Marketplace platforms. The company has geared a large portion of its technology and marketing efforts towards this segment, which brought in $20.5 billion of GMV and $1.9 billion of revenue. “In Q3, we drove acceleration across all three of our platforms, delivering strong top and bottom line financial results and our fastest volume growth in over three years,” said eBay CEO Devin Wenig. “Our customers are responding to the significant product enhancements we have been making, and this is reflected in our results.” The company also said it added 2 million active buyers across its platforms, now reaching 168 million. For its fourth quarter, eBay predicts it will rake in $2.58 billion and $2.62 billion in revenue, while earnings are slated to be between 57 and 59 cents per share on an adjusted basis. EBAY stock rose 1.3% during regular trading hours, but the earnings call unveiled after the bell saw shares fall 5.4%. More From InvestorPlace 5 Bitcoin Stocks to Buy for Low-Risk Cryptocurrency Profits 7 Stocks to Buy Before the Holidays Kroger Co Stock Has Way More Upside Than You Think The post eBay Inc (EBAY) Q3 Adjusted Earnings in Line With Expectations appeared first on InvestorPlace . \|\| United Continental Holdings Inc (UAL) Profit Tops Estimates, Falls Y/Y: United Continental Holdings Inc (NYSE: UAL ) reported on its latest period, beating expectations despite natural disasters hurting its business. United Continental Holdings Inc (UAL) The hurricanes that struck the U.S. took a hit on the company’s earnings and revenue figures , but they were still stronger than expected for the period. The parent company of United Airlines earned $2.22 per share, which topped analysts’ expectations of $2.12 per share. Revenue was also strong at $9.88 billion, ahead of the consensus estimate of $9.86 billion, according to Thomson Reuters . The figure was below the year-ago revenue of $9.91 per share, while earnings were much better last year at $3.11 per share. InvestorPlace - Stock Market News, Stock Advice & Trading Tips Hurricane Harvey alone contributed to causing United Continental posting $400 million in losses as it hurt business to and from Houston, Texas, the fourth-largest city in the country. A total of at least 7,400 flights were canceled out of its hub at the George Bush Intercontinental Airport. The storm caused the company to reduce its third-quarter revenue outlook to a 3.5% to 4% slip. The company has also been in the midst of controversy as a passenger is suing United Airlines after a drunk passenger reportedly urinated on him. It is unclear how much Daniel Card is asking from the company , but he is accusing the airline of assault, negligence, breach of contract and emotional distress. UAL stock shares surged 0.7% during regular trading hours Wednesday, rose an additional 0.6% after the bell. More From InvestorPlace 5 Bitcoin Stocks to Buy for Low-Risk Cryptocurrency Profits 7 Stocks to Buy Before the Holidays Kroger Co Stock Has Way More Upside Than You Think The post United Continental Holdings Inc (UAL) Profit Tops Estimates, Falls Y/Y appeared first on InvestorPlace . \|\| United Continental Holdings Inc (UAL) Profit Tops Estimates, Falls Y/Y: United Continental Holdings Inc(NYSE:UAL) reported on its latest period, beating expectations despite natural disasters hurting its business. The hurricanes that struck the U.S. took a hit on thecompany’s earnings and revenue figures, but they were still stronger than expected for the period. The parent company of United Airlines earned $2.22 per share, which topped analysts’ expectations of $2.12 per share. Revenue was also strong at $9.88 billion, ahead of the consensus estimate of $9.86 billion, according toThomson Reuters. The figure was below the year-ago revenue of $9.91 per share, while earnings were much better last year at $3.11 per share. InvestorPlace - Stock Market News, Stock Advice & Trading Tips Hurricane Harvey alone contributed to causing United Continental posting $400 million in losses as it hurt business to and from Houston, Texas, the fourth-largest city in the country. A total of at least 7,400 flights were canceled out of its hub at the George Bush Intercontinental Airport. The storm caused the company to reduce its third-quarter revenue outlook to a 3.5% to 4% slip. The company has also been in the midst of controversy as a passenger is suing United Airlines after a drunk passenger reportedly urinated on him. It is unclear how much Daniel Cardis asking from the company, but he is accusing the airline of assault, negligence, breach of contract and emotional distress. UAL stock shares surged 0.7% during regular trading hours Wednesday, rose an additional 0.6% after the bell. • 5 Bitcoin Stocks to Buy for Low-Risk Cryptocurrency Profits • 7 Stocks to Buy Before the Holidays • Kroger Co Stock Has Way More Upside Than You Think The postUnited Continental Holdings Inc (UAL) Profit Tops Estimates, Falls Y/Yappeared first onInvestorPlace. \|\| We asked cryptocurrency experts to respond to Jamie Dimon's bitcoin bashings — here's what they said: Jamie Dimon Chip Somodevilla / Getty Images Jamie Dimon has been a vocal critic of bitcoin since its earliest days, but his most recent comments have ignited a conversation about digital currencies on Wall Street. Two of the bankers' main arguments against the cryptocurrency are that it is in a bubble, and it will ultimately be "crushed" by governments. We spoke with experts in the cryptocurrency space to examine those two critiques. They said bitcoin's underpinning blockchain technology can't be easily jeopardized by governments and future use-cases justify its current value. JPMorgan CEO Jamie Dimon sparked a conversation about bitcoin among top Wall Streeters. Since he called the digital currency "a fraud" in September, a slew of top Wall Streeters from BlackRock's Larry Fink to Morgan Stanley's James Gorman, have weighed in on bitcoin, which is up more than 400% year-to-date. Dimon said during JPMorgan's earnings call Thursday he would stop talking about bitcoin. His vow of silence, however, ended prematurely. The very next day Dimon bashed bitcoin at a conference in Washington, D.C. He concluded his remarks by saying he was done talking about bitcoin. Whether Dimon can keep his word remains to be seen, but what is certain is that his critiques of bitcoin and cryptocurrencies will continue to drive conversation in both crypto- and Wall Street-circles. 'Worse than tulip bulbs' Bubble Reuters/Mike Blake Wall Street is full of folks who think the over $160 billion cryptocurrency market is in a bubble. Dimon said it is "worse than the tulip bulbs," alluding to the speculative bubble of newly arrived tulips in 17th century Europe. In fact, the notion that some folks are just betting on the price of bitcoin and other cryptocurrencies is not even contested among bitcoin's most fundamental followers. Crypto-evangelists, however, would argue that such investors are in the minority, whereas the majority of cryptocurrency investors are betting on the underpinning technology of their coins and tokens, rather than just looking for a quick profit. Story continues "There is certainly some speculation," Ryan Taylor, a former McKinsey analyst and CEO of Dash, a top cryptocurrency. "But it's being driven by the belief that future use-cases will come to fruition." Crypto-skeptics often rebuke the argument for future use-cases, which range from toll systems to peer-to-peer energy exchange networks, by saying they are too far off to warrant current valuations. "The real world benefits are said to take years to materialize, even among evangelists," wrote UBS, the Switzerland-based bank in a recent note . The bank says at the end of the day people are just looking to sell at a higher price. Bitcoin enthusiasts respond by pointing to the utility of cryptocurrency's network, which sees more than 200,000 transactions per day, as evidence of its inherent value. Here's Stan Miroshnik, CEO and managing director, Element Group: "The bitcoin economy is supported by all the goods and services you can buy with bitcoin, as well as the infrastructure investments made by thousands of people to support the distributed bitcoin network. All of this has fundamental value. I can pay in bitcoin faster, cheaper and more secure than with PayPal, this is a fundamental value. " PayPal did not respond for comment at the time of publication. According to PayPal's website , a bank transfer made through their platform takes approximately one business day. A bitcoin transaction typically takes under 30 minutes, although that number frequently fluctuates. 'Governments are going to crush it one day' Dimon doubled down on his position that governments would be a main impediment to the future growth of bitcoin and the overall cryptocurrency market on Friday, saying sovereigns will ultimately crush it once it becomes too big of a threat to their authority. Here's Dimon (emphasis added): The other thing I've always [said] about bitcoin, governments — and this is not a technological statement — governments are going to crush it one day . Governments like to know where the money is, who has it and what you're doing with it, in case you haven't noticed. Right? China's recent interventions into both currency- and crypto-markets best illustrates Dimon's point. The country's regulators in September deemed initial coin offerings , a red-hot cryptocurrency-based fundraising method, illegal. And currently there is a wide-spread crackdown on bitcoin trading underway in the country. China notably has also implemented restrictions on cross-border payments between its yuan and foreign currencies to keep renminbi from exiting the country. China is an extreme case, but numerous countries, from the US to South Korea , have ramped up efforts to impose restrictions on the wild west of cryptocurrencies. This isn't worrying most cryptocurrency enthusiasts. Capture.PNG Markets Insider Samson Mow, the CSO of Blockstream , a bitcoin software company based in San Francisco, told Business Insider that governments may dislike crypto, but the degree to which they can impact the digital currency is limited. "Cryptocurrencies by design cannot be "closed down" because first, they are decentralized, and second, they're just information," Mow said. "To even try to close them down, you'd have to shut down the internet, and even then it would only be a minor hindrance." The bitcoin markets seem to agree with Mow. Since China banned ICOs, for instance, bitcoin has rallied more than $1,000. Josh Olszwicz, a bitcoin trader, told Business Insider the markets have ignored the news out of China because it is not something that impacts its underlying blockchain technology . "If it doesn't affect the protocol, then it's not a real problem," he told Business Insider."The bitcoin cash shakeup was much more worrisome from my perspective, but even then the core bitcoin protocol remained unaffected." If a country were to completely ban bitcoin, the network would still be there for people to use. And it wouldn't be too difficult for people to get away with using bitcoin or other cryptocurrencies, because the network is anonymous and transactions and trades are hard to trace. NOW WATCH: SCOTT GALLOWAY: Amazon is using an unfair advantage to dominate its competitors See Also: No wonder investors are rushing into cryptocurrencies — average ICO returns are 1,320% UBS: Cryptocurrencies are in a 'speculative bubble' Bitcoin passes $5,000 to hit fresh all-time high \|\| We asked cryptocurrency experts to respond to Jamie Dimon's bitcoin bashings — here's what they said: Jamie Dimon Chip Somodevilla / Getty Images Jamie Dimon has been a vocal critic of bitcoin since its earliest days, but his most recent comments have ignited a conversation about digital currencies on Wall Street. Two of the bankers' main arguments against the cryptocurrency are that it is in a bubble, and it will ultimately be "crushed" by governments. We spoke with experts in the cryptocurrency space to examine those two critiques. They said bitcoin's underpinning blockchain technology can't be easily jeopardized by governments and future use-cases justify its current value. JPMorgan CEO Jamie Dimon sparked a conversation about bitcoin among top Wall Streeters. Since he called the digital currency "a fraud" in September, a slew of top Wall Streeters from BlackRock's Larry Fink to Morgan Stanley's James Gorman, have weighed in on bitcoin, which is up more than 400% year-to-date. Dimon said during JPMorgan's earnings call Thursday he would stop talking about bitcoin. His vow of silence, however, ended prematurely. The very next day Dimon bashed bitcoin at a conference in Washington, D.C. He concluded his remarks by saying he was done talking about bitcoin. Whether Dimon can keep his word remains to be seen, but what is certain is that his critiques of bitcoin and cryptocurrencies will continue to drive conversation in both crypto- and Wall Street-circles. 'Worse than tulip bulbs' Bubble Reuters/Mike Blake Wall Street is full of folks who think the over $160 billion cryptocurrency market is in a bubble. Dimon said it is "worse than the tulip bulbs," alluding to the speculative bubble of newly arrived tulips in 17th century Europe. In fact, the notion that some folks are just betting on the price of bitcoin and other cryptocurrencies is not even contested among bitcoin's most fundamental followers. Crypto-evangelists, however, would argue that such investors are in the minority, whereas the majority of cryptocurrency investors are betting on the underpinning technology of their coins and tokens, rather than just looking for a quick profit. Story continues "There is certainly some speculation," Ryan Taylor, a former McKinsey analyst and CEO of Dash, a top cryptocurrency. "But it's being driven by the belief that future use-cases will come to fruition." Crypto-skeptics often rebuke the argument for future use-cases, which range from toll systems to peer-to-peer energy exchange networks, by saying they are too far off to warrant current valuations. "The real world benefits are said to take years to materialize, even among evangelists," wrote UBS, the Switzerland-based bank in a recent note . The bank says at the end of the day people are just looking to sell at a higher price. Bitcoin enthusiasts respond by pointing to the utility of cryptocurrency's network, which sees more than 200,000 transactions per day, as evidence of its inherent value. Here's Stan Miroshnik, CEO and managing director, Element Group: "The bitcoin economy is supported by all the goods and services you can buy with bitcoin, as well as the infrastructure investments made by thousands of people to support the distributed bitcoin network. All of this has fundamental value. I can pay in bitcoin faster, cheaper and more secure than with PayPal, this is a fundamental value. " PayPal did not respond for comment at the time of publication. According to PayPal's website , a bank transfer made through their platform takes approximately one business day. A bitcoin transaction typically takes under 30 minutes, although that number frequently fluctuates. 'Governments are going to crush it one day' Dimon doubled down on his position that governments would be a main impediment to the future growth of bitcoin and the overall cryptocurrency market on Friday, saying sovereigns will ultimately crush it once it becomes too big of a threat to their authority. Here's Dimon (emphasis added): The other thing I've always [said] about bitcoin, governments — and this is not a technological statement — governments are going to crush it one day . Governments like to know where the money is, who has it and what you're doing with it, in case you haven't noticed. Right? China's recent interventions into both currency- and crypto-markets best illustrates Dimon's point. The country's regulators in September deemed initial coin offerings , a red-hot cryptocurrency-based fundraising method, illegal. And currently there is a wide-spread crackdown on bitcoin trading underway in the country. China notably has also implemented restrictions on cross-border payments between its yuan and foreign currencies to keep renminbi from exiting the country. China is an extreme case, but numerous countries, from the US to South Korea , have ramped up efforts to impose restrictions on the wild west of cryptocurrencies. This isn't worrying most cryptocurrency enthusiasts. Capture.PNG Markets Insider Samson Mow, the CSO of Blockstream , a bitcoin software company based in San Francisco, told Business Insider that governments may dislike crypto, but the degree to which they can impact the digital currency is limited. "Cryptocurrencies by design cannot be "closed down" because first, they are decentralized, and second, they're just information," Mow said. "To even try to close them down, you'd have to shut down the internet, and even then it would only be a minor hindrance." The bitcoin markets seem to agree with Mow. Since China banned ICOs, for instance, bitcoin has rallied more than $1,000. Josh Olszwicz, a bitcoin trader, told Business Insider the markets have ignored the news out of China because it is not something that impacts its underlying blockchain technology . "If it doesn't affect the protocol, then it's not a real problem," he told Business Insider."The bitcoin cash shakeup was much more worrisome from my perspective, but even then the core bitcoin protocol remained unaffected." If a country were to completely ban bitcoin, the network would still be there for people to use. And it wouldn't be too difficult for people to get away with using bitcoin or other cryptocurrencies, because the network is anonymous and transactions and trades are hard to trace. NOW WATCH: SCOTT GALLOWAY: Amazon is using an unfair advantage to dominate its competitors See Also: No wonder investors are rushing into cryptocurrencies — average ICO returns are 1,320% UBS: Cryptocurrencies are in a 'speculative bubble' Bitcoin passes $5,000 to hit fresh all-time high \|\| 3 Big Stock Charts for Wednesday: Alphabet Inc, Microsoft Corporation and Exxon Mobil Corporation: The Dow Jones Industrial Average is getting a jump today as International Business Machines Corp. (NYSE: IBM ) shares are trading almost 10% higher after better-than-expected earnings results. The move isn’t as strong in the S&P 500 and Nasdaq Composite as the broader markets are moving sideways. The string of new highs on the major exchanges is starting to push a number of stock charts into overbought territory ahead of their earnings reports. We’ve noted a swing of funds into the technology stocks over the past two weeks as results from the financials haven’t impressed. 10 Blue-Chip Dividend Stocks to Buy for 2018 Being aware of the “sell the rumor” rule, today’s Three Big Stock Charts looks at the technical of Alphabet Inc (NASDAQ: GOOGL ), Microsoft Corporation (NASDAQ: MSFT ) and Exxon Mobil Corporation (NYSE: XOM ) as all three are flashing short-term overbought signals. Alphabet (GOOGL) InvestorPlace - Stock Market News, Stock Advice & Trading Tips Alphabet shares have rallied over the last month as a migration into large-cap tech stocks has taken place ahead of earnings. The stock now sits at a critical test ahead of its earnings release on Oct. 26. The next week may see a “sell the news” pullback ahead of this report according to the current chart. Shares are now sitting just above the psychologically critical $1,000 price. The stock has failed to hold this level previously in June and July. A move below the $1,000 mark will increase selling pressure. Shares of Alphabet are now in overbought territory according to their RSI. This suggests that the stock is likely to see some selling pressure due to profit-taking by traders. A pullback in Alphabet stock would likely be short-lived as the stock would find its first round of support at $980. This would be seen as a buying opportunity ahead of earnings. Microsoft (MSFT) With shipments of PCs on the rise, Microsoft and other hardware companies have seen a tailwind that has helped shares rally into their earnings reports. Microsoft is set to release earnings in a little over a week on Oct. 26. The current chart suggests that we may see some selling ahead of the report. Story continues The recent rally to $78 has carried Microsoft stock into a technically overbought situation. The last similar signal was in June ahead of a pullback from $72 to $68 that occurred in roughly a week. Microsoft shares tend to trade lower ahead of their earnings as traders look to lock-in profits on gains ahead of the volatility caused by the company’s earnings report. Currently, the difference between the current price and the 50-day moving average of Microsoft shares has hit a historical extreme. This often signals that a stock has technically extended itself too far and is due for a correction. Exxon Mobil (XOM) Oil prices have seen an increase in volatility along with the related energy companies. Exxon Mobile has rallied back to chart and technical resistance causing the stock to begin a consolidation that appears to be ready to turn into a small correction. The slightest turn lower in Crude prices will likely tip this balance. Exxon Mobil shares are now trading just below $83. This price has been a technically significant level for all of 2017 as the stock has reversed from rallies at this price dating back to March. While Exxon Mobil stock is hitting chart resistance they are also registering an overbought signal from their RSI. The latest readings have crossed above 70, usually an indication of upcoming price weakness. The 50-day moving average for Exxon Mobil remains in a bearish trend. This suggests that any selling pressure will be increased as the technical traders and programs determine the latest rally an anomaly within the longer-term trend. As of this writing, Johnson Research Group did not hold a position in any of the aforementioned securities. More From InvestorPlace 7 Investments Every Retirement Investor Should Own Dow Jones Industrial Average Hits 23,000. Now What? 5 Bitcoin Stocks to Buy for Low-Risk Cryptocurrency Profits The post 3 Big Stock Charts for Wednesday: Alphabet Inc, Microsoft Corporation and Exxon Mobil Corporation appeared first on InvestorPlace . \|\| 3 Big Stock Charts for Wednesday: Alphabet Inc, Microsoft Corporation and Exxon Mobil Corporation: TheDow Jones Industrial Averageis getting a jump today asInternational Business Machines Corp.(NYSE:IBM) shares are trading almost 10% higher after better-than-expected earnings results. The move isn’t as strong in theS&P 500andNasdaq Compositeas the broader markets are moving sideways. The string of new highs on the major exchanges is starting to push a number of stock charts into overbought territory ahead of their earnings reports. We’ve noted a swing of funds into the technology stocks over the past two weeks as results from the financials haven’t impressed. • 10 Blue-Chip Dividend Stocks to Buy for 2018 Being aware of the “sell the rumor” rule, today’s Three Big Stock Charts looks at the technical ofAlphabet Inc(NASDAQ:GOOGL),Microsoft Corporation(NASDAQ:MSFT) andExxon Mobil Corporation(NYSE:XOM) as all three are flashing short-term overbought signals. InvestorPlace - Stock Market News, Stock Advice & Trading Tips Alphabet shares have rallied over the last month as a migration into large-cap tech stocks has taken place ahead of earnings. The stock now sits at a critical test ahead of its earnings release on Oct. 26. The next week may see a “sell the news” pullback ahead of this report according to the current chart. • Shares are now sitting just above the psychologically critical $1,000 price. The stock has failed to hold this level previously in June and July. A move below the $1,000 mark will increase selling pressure. • Shares of Alphabet are now in overbought territory according to their RSI. This suggests that the stock is likely to see some selling pressure due to profit-taking by traders. • A pullback in Alphabet stock would likely be short-lived as the stock would find its first round of support at $980. This would be seen as a buying opportunity ahead of earnings. With shipments of PCs on the rise, Microsoft and other hardware companies have seen a tailwind that has helped shares rally into their earnings reports. Microsoft is set to release earnings in a little over a week on Oct. 26. The current chart suggests that we may see some selling ahead of the report. • The recent rally to $78 has carried Microsoft stock into a technically overbought situation. The last similar signal was in June ahead of a pullback from $72 to $68 that occurred in roughly a week. • Microsoft shares tend to trade lower ahead of their earnings as traders look to lock-in profits on gains ahead of the volatility caused by the company’s earnings report. • Currently, the difference between the current price and the 50-day moving average of Microsoft shares has hit a historical extreme. This often signals that a stock has technically extended itself too far and is due for a correction. Oil prices have seen an increase in volatility along with the related energy companies. Exxon Mobile has rallied back to chart and technical resistance causing the stock to begin a consolidation that appears to be ready to turn into a small correction. The slightest turn lower in Crude prices will likely tip this balance. • Exxon Mobil shares are now trading just below $83. This price has been a technically significant level for all of 2017 as the stock has reversed from rallies at this price dating back to March. • While Exxon Mobil stock is hitting chart resistance they are also registering an overbought signal from their RSI. The latest readings have crossed above 70, usually an indication of upcoming price weakness. • The 50-day moving average for Exxon Mobil remains in a bearish trend. This suggests that any selling pressure will be increased as the technical traders and programs determine the latest rally an anomaly within the longer-term trend. As of this writing, Johnson Research Group did not hold a position in any of the aforementioned securities. • 7 Investments Every Retirement Investor Should Own • Dow Jones Industrial Average Hits 23,000. Now What? • 5 Bitcoin Stocks to Buy for Low-Risk Cryptocurrency Profits The post3 Big Stock Charts for Wednesday: Alphabet Inc, Microsoft Corporation and Exxon Mobil Corporationappeared first onInvestorPlace. [Social Media Buzz] 1 #BTC (#Bitcoin) quotes: $5640.58/$5648.80 #Bitstamp $5636.40/$5648.09 #Kraken ⇢$-12.40/$7.51 $5622.00/$5681.14 #Coinbase ⇢$-26.80/$40.56 \|\| 1 BTC Price: BTC-e USD Bitstamp 5787.00 USD Coinbase 5769.00 USD #btc #bitcoin 2017-10-20 10:30 pic.twitter.com/ZrJsBxfj8z \|\| 10/21 06:00現在 #Bitcoin : 669,965円↓ #NEM #XEM : 24.4999円↓ #Monacoin : 318.5円↓ #Ethereum : 34,455円→ #Zaif : 0.5668円↑ \|\| Buy! (10:12:37 am PDT) Price: 5896.00 (+/- 0.5) Close: 5900.18 (+/- 0.5) Stop: 5893.00 (+/- 0.5) #gdax #coinba...	6031.60, 6008.42, 5930.32, 5526.64, 5750.80, 5904.83, 5780.90, 5753.09, 6153.85, 6130.53
Given the historical Bitcoin prices from the last 90 days, predict the next 10 daily closing prices. The historical prices are: 9697.50, 8845.74, 9281.51, 8987.05, 9348.48, 9419.08, 9240.55, 9119.01, 9235.92, 9743.86, 9700.76, 9858.15, 9654.80, 9373.01, 9234.82, 9325.18, 9043.94, 8441.49, 8504.89, 8723.94, 8716.79, 8510.38, 8368.83, 8094.32, 8250.97, 8247.18, 8513.25, 8418.99, 8041.78, 7557.82, 7587.34, 7480.14, 7355.88, 7368.22, 7135.99, 7472.59, 7406.52, 7494.17, 7541.45, 7643.45, 7720.25, 7514.47, 7633.76, 7653.98, 7678.24, 7624.92, 7531.98, 6786.02, 6906.92, 6582.36, 6349.90, 6675.35, 6456.58, 6550.16, 6499.27, 6734.82, 6769.94, 6776.55, 6729.74, 6083.69, 6162.48, 6173.23, 6249.18, 6093.67, 6157.13, 5903.44, 6218.30, 6404.00, 6385.82, 6614.18, 6529.59, 6597.55, 6639.14, 6673.50, 6856.93, 6773.88, 6741.75, 6329.95, 6394.71, 6228.81, 6238.05, 6276.12, 6359.64, 6741.75, 7321.04, 7370.78, 7466.86, 7354.13, 7419.29, 7418.49.	[Bitcoin Technical Analysis for 2018-07-22] Volume: 3695460096, RSI (14-day): 65.45, 50-day EMA: 6955.87, 200-day EMA: 7910.93 [Wider Market Context] None available. [Recent News (last 7 days)] Bitcoin Makes Major Headway: CFA Exam Will Now Include Crypto Topics: Bitcoin CFA Exam Cryptocurrencies and blockchain technologies are making serious headway in the financial industry, the most recent sign being the decision by the CFA Institute, which offers the Chartered Financial Analyst designation, a three-level program, to include cryptocurrencies and blockchain to its Level I and II curriculums next year, according to Bloomberg . The material for the 2019 exams will be available in August. The topics are part of a new section called Fintech in Investment Management. The CFA, based in Charlottesville, Va., added these topics in response to rising interest based on focus groups and surveys. Crypto Integrates With Finance Finance has become increasingly integrated with cryptocurrencies on account of the growth of bitcoin. Bitcoin futures are currently traded by trading house in Chicago and at leading financial firms like Goldman Sachs Inc . In addition, more Wall Street professionals are joining cryptocurrency startups. Cryptocurrencies have taken a hit in 2018 and real-world blockchain applications have been limited, but many observers claim the technologies can make major changes to the global financial system. Stephen Horan, the managing director of curriculum and general education at CFA Institute, said blockchain and cryptocurrencies are not a passing fad. The material about blockchain and cryptocurrency will be available next to other fintech topics such as automated trading, machine learning and artificial intelligence. Horan said additional related topics, like the intersection of economics and cryptocurrencies, could ultimately be added to the curriculum. Practitioners Respond Bitcoin tax accounting Kayden Lee, a 27-year-old financial economics student, took the CFA Level I exam last month and is working as an intern fund analyst this summer. He said the blockchain and cryptocurrency material will be helpful to people like himself considering cryptocurrencys expansion and adoption. The focus of the material, he noted, is how fintech and blockchain improve, disrupt and unravel certain financial sectors. The topics will also fall under CFA readings about professional ethics, which is an area some see a need for in the cryptocurrency industry. Numerous crypto projects work in a cloudy legal environment. In addition, a number of ICOs and cryptocurrency trading platforms have been subject to money laundering, theft, market manipulation, and fraud. A total of 227,031 candidates from 91 nations and territories have registered for the June exams, which marks a record number. Most of the candidates are from Asia, home to a significant amount of cryptocurrency trading. CryptoCompare.com reported that around 45% of bitcoin transactions get paired against the Japanese yen. In addition, cryptocurrency exchanges in Korea are among the largest. Story continues Darius Sit, formerly a BNP Paribas SA bond trader and foreign exchange student now serving as a managing partner at QCP Capital Pte in Singapore, a cryptocurrency trading firm, said additional education is always a good thing. Also read: Start studying, bitcoin certification is here Certifications Not Unknown Cryptocurrency organizations have themselves long offered various types of certification to industry professionals. In 2014, the Digital Currency Council offered a certification reserved for professionals who have mastered digital currencies in the U.S. That same year, in Canada, the CryptoCurrency Certification Consortium (C4) in Canada announced Professional and Expert level certification. Images from Shutterstock The post Bitcoin Makes Major Headway: CFA Exam Will Now Include Crypto Topics appeared first on CCN . View comments \|\| Bitcoin Makes Major Headway: CFA Exam Will Now Include Crypto Topics: Cryptocurrencies and blockchain technologies are making serious headway in the financial industry, the most recent sign being the decision by the CFA Institute, which offers the Chartered Financial Analyst designation, a three-level program, to include cryptocurrencies and blockchain to its Level I and II curriculums next year, according toBloomberg. The material for the 2019 exams will be available in August. The topics are part of a new section called Fintech in Investment Management. The CFA, based in Charlottesville, Va., added these topics in response to rising interest based on focus groups and surveys. Finance has become increasingly integrated with cryptocurrencies on account of the growth of bitcoin. Bitcoin futures are currently traded by trading house in Chicago and at leading financial firms likeGoldman Sachs Inc. In addition, more Wall Street professionals are joining cryptocurrency startups. Cryptocurrencies have taken a hit in 2018 and real-world blockchain applications have been limited, but many observers claim the technologies can make major changes to the global financial system.Stephen Horan, the managing director of curriculum and general education at CFA Institute, said blockchain and cryptocurrencies are not a passing fad. The material about blockchain and cryptocurrency will be available next to other fintech topics such as automated trading, machine learning and artificial intelligence. Horan said additional related topics, like the intersection of economics and cryptocurrencies, could ultimately be added to the curriculum. Kayden Lee, a 27-year-old financial economics student, took the CFA Level I exam last month and is working as an intern fund analyst this summer. He said the blockchain and cryptocurrency material will be helpful to people like himself considering cryptocurrency’s expansion and adoption. The focus of the material, he noted, is how fintech and blockchain improve, disrupt and unravel certain financial sectors. The topics will also fall under CFA readings about professional ethics, which is an area some see a need for in the cryptocurrency industry. Numerous crypto projects work in a cloudy legal environment. In addition, a number of ICOs and cryptocurrency trading platforms have been subject to money laundering, theft, market manipulation, and fraud. A total of 227,031 candidates from 91 nations and territories have registered for the June exams, which marks a record number. Most of the candidates are from Asia, home to a significant amount of cryptocurrency trading. CryptoCompare.com reported that around 45% of bitcoin transactions get paired against the Japanese yen. In addition, cryptocurrency exchanges in Korea are among the largest. Darius Sit, formerly a BNP Paribas SA bond trader and foreign exchange student now serving as a managing partner at QCP Capital Pte in Singapore, a cryptocurrency trading firm, said additional education is always a good thing. Also read:Start studying, bitcoin certification is here Cryptocurrency organizations have themselves long offered various types of certification to industry professionals. In 2014, theDigital Currency Council offered a certification“reserved for professionals who have mastered digital currencies” in the U.S. That same year, in Canada, the CryptoCurrency Certification Consortium (C4) in Canada announced “Professional” and “Expert” level certification. Images from Shutterstock The postBitcoin Makes Major Headway: CFA Exam Will Now Include Crypto Topicsappeared first onCCN. \|\| Bitcoin Makes Major Headway: CFA Exam Will Now Include Crypto Topics: Cryptocurrencies and blockchain technologies are making serious headway in the financial industry, the most recent sign being the decision by the CFA Institute, which offers the Chartered Financial Analyst designation, a three-level program, to include cryptocurrencies and blockchain to its Level I and II curriculums next year, according toBloomberg. The material for the 2019 exams will be available in August. The topics are part of a new section called Fintech in Investment Management. The CFA, based in Charlottesville, Va., added these topics in response to rising interest based on focus groups and surveys. Finance has become increasingly integrated with cryptocurrencies on account of the growth of bitcoin. Bitcoin futures are currently traded by trading house in Chicago and at leading financial firms likeGoldman Sachs Inc. In addition, more Wall Street professionals are joining cryptocurrency startups. Cryptocurrencies have taken a hit in 2018 and real-world blockchain applications have been limited, but many observers claim the technologies can make major changes to the global financial system.Stephen Horan, the managing director of curriculum and general education at CFA Institute, said blockchain and cryptocurrencies are not a passing fad. The material about blockchain and cryptocurrency will be available next to other fintech topics such as automated trading, machine learning and artificial intelligence. Horan said additional related topics, like the intersection of economics and cryptocurrencies, could ultimately be added to the curriculum. Kayden Lee, a 27-year-old financial economics student, took the CFA Level I exam last month and is working as an intern fund analyst this summer. He said the blockchain and cryptocurrency material will be helpful to people like himself considering cryptocurrency’s expansion and adoption. The focus of the material, he noted, is how fintech and blockchain improve, disrupt and unravel certain financial sectors. The topics will also fall under CFA readings about professional ethics, which is an area some see a need for in the cryptocurrency industry. Numerous crypto projects work in a cloudy legal environment. In addition, a number of ICOs and cryptocurrency trading platforms have been subject to money laundering, theft, market manipulation, and fraud. A total of 227,031 candidates from 91 nations and territories have registered for the June exams, which marks a record number. Most of the candidates are from Asia, home to a significant amount of cryptocurrency trading. CryptoCompare.com reported that around 45% of bitcoin transactions get paired against the Japanese yen. In addition, cryptocurrency exchanges in Korea are among the largest. Darius Sit, formerly a BNP Paribas SA bond trader and foreign exchange student now serving as a managing partner at QCP Capital Pte in Singapore, a cryptocurrency trading firm, said additional education is always a good thing. Also read:Start studying, bitcoin certification is here Cryptocurrency organizations have themselves long offered various types of certification to industry professionals. In 2014, theDigital Currency Council offered a certification“reserved for professionals who have mastered digital currencies” in the U.S. That same year, in Canada, the CryptoCurrency Certification Consortium (C4) in Canada announced “Professional” and “Expert” level certification. Images from Shutterstock The postBitcoin Makes Major Headway: CFA Exam Will Now Include Crypto Topicsappeared first onCCN. \|\| Hashflare Shuts Down Bitcoin Mining Service and Cancels All Bitcoin Contracts: Hashflare, a so-called “cloud mining” service that allowed speculators to effectively rent processing power on the Bitcoin network, announced Friday that it had shut down its Bitcoin mining hardware and canceled related contracts. The company says the cancellations are in accordance with its terms of service, but many users are also reporting that the company has placed strict new controls on withdrawals, fueling longstanding allegations that the operation is not above board. The shutdown was announced in an email to customers and on Hashflare’sFacebook page, with the statement primarily blaming “a difficult time for the cryptocurrency market,” including a dramatic decline in the market value of Bitcoin from its bubbly December 2017 peak. Hashflare claims that it has worked to lower its costs, but that the price decline nonetheless means that “BTC mining continues to be unprofitable.” Hashflare contract-holders pre-paid a yearly fee for a fixed amount of the cryptographic processing power that secures the Bitcoin network, along with daily service and maintenance fees. In principle, the yearly fee was effectively an investment in mining hardware, while the service fees covered costs like personnel and electricity. In exchange, Hashflare agreed to buy, operate, and maintain Bitcoin mining hardware on customers’ behalf, and share with contract-holders a portion of the Bitcoin rewards received from the network for operating the machines. Get The Ledger,Fortune’sblockchain and cryptocurrency newsletter. Because those costs were more fixed than the value of rewards in Bitcoin, these agreements always involved the risk of losses. Hashflare said on Friday that its daily fees have exceeded customer returns for 28 consecutive days, triggering a clause that allows Hashflare toterminate those contracts– without, according to users, refunding the remaining portion of annual contract fees. Hashflare also offers mining contracts onothercryptocurrency networks, such as Litecoin, Ether, and Dash, but has not said those contracts will be canceled. Just before its cancellation announcement, on Thursday, Hashflare also implemented new controls on withdrawals, putting stricter limits on withdrawals for customers who do not verify their identity. The restrictions have added to anger over the shutdown on forums like Reddit, where many users report having funds trapped in Hashflare’s system. Some disappointed customers have reported successfully disputing Hashflare’s contract fees to credit card companies, while others have proposed pursuing legal recourse to try and recover their investments. \|\| Hashflare Shuts Down Bitcoin Mining Service and Cancels All Bitcoin Contracts: Hashflare, a so-called “cloud mining” service that allowed speculators to effectively rent processing power on the Bitcoin network, announced Friday that it had shut down its Bitcoin mining hardware and canceled related contracts. The company says the cancellations are in accordance with its terms of service, but many users are also reporting that the company has placed strict new controls on withdrawals, fueling longstanding allegations that the operation is not above board. The shutdown was announced in an email to customers and on Hashflare’sFacebook page, with the statement primarily blaming “a difficult time for the cryptocurrency market,” including a dramatic decline in the market value of Bitcoin from its bubbly December 2017 peak. Hashflare claims that it has worked to lower its costs, but that the price decline nonetheless means that “BTC mining continues to be unprofitable.” Hashflare contract-holders pre-paid a yearly fee for a fixed amount of the cryptographic processing power that secures the Bitcoin network, along with daily service and maintenance fees. In principle, the yearly fee was effectively an investment in mining hardware, while the service fees covered costs like personnel and electricity. In exchange, Hashflare agreed to buy, operate, and maintain Bitcoin mining hardware on customers’ behalf, and share with contract-holders a portion of the Bitcoin rewards received from the network for operating the machines. Get The Ledger,Fortune’sblockchain and cryptocurrency newsletter. Because those costs were more fixed than the value of rewards in Bitcoin, these agreements always involved the risk of losses. Hashflare said on Friday that its daily fees have exceeded customer returns for 28 consecutive days, triggering a clause that allows Hashflare toterminate those contracts– without, according to users, refunding the remaining portion of annual contract fees. Hashflare also offers mining contracts onothercryptocurrency networks, such as Litecoin, Ether, and Dash, but has not said those contracts will be canceled. Just before its cancellation announcement, on Thursday, Hashflare also implemented new controls on withdrawals, putting stricter limits on withdrawals for customers who do not verify their identity. The restrictions have added to anger over the shutdown on forums like Reddit, where many users report having funds trapped in Hashflare’s system. Some disappointed customers have reported successfully disputing Hashflare’s contract fees to credit card companies, while others have proposed pursuing legal recourse to try and recover their investments. \|\| Hashflare Shuts Down Bitcoin Mining Service and Cancels All Bitcoin Contracts: Hashflare, a so-called cloud mining service that allowed speculators to effectively rent processing power on the Bitcoin network, announced Friday that it had shut down its Bitcoin mining hardware and canceled related contracts. The company says the cancellations are in accordance with its terms of service, but many users are also reporting that the company has placed strict new controls on withdrawals, fueling longstanding allegations that the operation is not above board. The shutdown was announced in an email to customers and on Hashflares Facebook page , with the statement primarily blaming a difficult time for the cryptocurrency market, including a dramatic decline in the market value of Bitcoin from its bubbly December 2017 peak. Hashflare claims that it has worked to lower its costs, but that the price decline nonetheless means that BTC mining continues to be unprofitable. Hashflare contract-holders pre-paid a yearly fee for a fixed amount of the cryptographic processing power that secures the Bitcoin network, along with daily service and maintenance fees. In principle, the yearly fee was effectively an investment in mining hardware, while the service fees covered costs like personnel and electricity. In exchange, Hashflare agreed to buy, operate, and maintain Bitcoin mining hardware on customers behalf, and share with contract-holders a portion of the Bitcoin rewards received from the network for operating the machines. Get The Ledger , Fortunes blockchain and cryptocurrency newsletter. Because those costs were more fixed than the value of rewards in Bitcoin, these agreements always involved the risk of losses. Hashflare said on Friday that its daily fees have exceeded customer returns for 28 consecutive days, triggering a clause that allows Hashflare to terminate those contracts without, according to users, refunding the remaining portion of annual contract fees. Hashflare also offers mining contracts on other cryptocurrency networks, such as Litecoin, Ether, and Dash, but has not said those contracts will be canceled. Just before its cancellation announcement, on Thursday, Hashflare also implemented new controls on withdrawals, putting stricter limits on withdrawals for customers who do not verify their identity. The restrictions have added to anger over the shutdown on forums like Reddit, where many users report having funds trapped in Hashflares system. Some disappointed customers have reported successfully disputing Hashflares contract fees to credit card companies, while others have proposed pursuing legal recourse to try and recover their investments. To anybody that purchased a Hashflare cloud mining contract with a credit card, it might be possible to get a refund with that credit card as one of my followers tipped me. He bought his contracts at the end of 2017. pic.twitter.com/gAVXjIS720 Madoff wasn't on the blockchain (@bccponzi) July 16, 2018 \|\| 0x Gains 12% and Tokens Rise During Volatile Cryptocurrency Markets: The crypto market has been extremely volatile over the past 24 hours, especially small tokens and digital assets, possibly due to the decline in volume in the past week. Yesterday, on July 21, the price of bitcoin surged from $7,400 to $7,600 in a span of 10 minutes, with a spike demand on major cryptocurrency exchanges including Binance and Bitfinex. However, almost immediately after the spike, the price of bitcoin crashed from the higher end of $7,600 to the lower end of $7,300, bringing along other major digital assets and tokens as well. Since then, the price of bitcoin has been very volatile in the range of $7,400, with decent volume and demand. Still, the volume of bitcoin compared to its volume of last week is relatively low, and has decreased by over a billion dollars in the past 48 hours. Subsequent to its large rally on July 19, the price of bitcoin has struggled to initiate any major movement on the upside, mostly due to the lack of momentum in the crypto exchange market. Ether, Bitcoin Cash, and Ripple in particular have performed poorly against both bitcoin and the US dollar. The volatile movement of the market may open bitcoin and other major cryptocurrencies vulnerable to strong downward movements, and as BitMEX CEO Arthur Hayes emphasized, a drop below the $6,000 mark to bottom out in the $5,500 to $6,000 is still a possibility. “I don’t actually think we’ve seen the worst. I would like to see us test $5,000 to really see if we put a bottom in. But come back in Q3, Q4, I think is when the party is going to start again,” Hayes said. Currently, the market and community are generally optimistic, mostly due to the strong performance of bitcoin since earlier this week, but other major assets and tokens have not been performing as well as bitcoin against the US dollar. ICON (ICX), 0x (ZRX), and Zilliqa (ZIL) have spiked by 5 to 10 percent on July 21, with ZRX recording a solid performance throughout this week, supported by the intent of Coinbase, the world’s largest crypto exchange to integrate ZRX in the near future. Against bitcoin, ZRX experienced an 8 percent rise in its value, as its dollar price rose from $1.02 to $1.18. Overall, the crypto market is in a positive position to continue its momentum, but as Hayes and other experts have noted, it will need to demonstrate stability before eyeing 20 to 40 percent movements on the upside, and properly bottom out in the lower region. With Samsung accepting crypto in its stores and the G20 moving towards unified regulations around cryptocurrency exchanges, the crypto sector has shown enthusiasm towards the long-term growth of the market. If the G20 moves to unify crypto regulations by the end of 2018, led by the efforts of the Japanese government, it may lead the crypto market open to a larger group of accredited investors in leading economies. Featured image from Shutterstock. The post0x Gains 12% and Tokens Rise During Volatile Cryptocurrency Marketsappeared first onCCN. \|\| 0x Gains 12% and Tokens Rise During Volatile Cryptocurrency Markets: Ripple price Uber The crypto market has been extremely volatile over the past 24 hours, especially small tokens and digital assets, possibly due to the decline in volume in the past week. Bitcoin’s Weird Movements Yesterday, on July 21, the price of bitcoin surged from $7,400 to $7,600 in a span of 10 minutes, with a spike demand on major cryptocurrency exchanges including Binance and Bitfinex. However, almost immediately after the spike, the price of bitcoin crashed from the higher end of $7,600 to the lower end of $7,300, bringing along other major digital assets and tokens as well. Since then, the price of bitcoin has been very volatile in the range of $7,400, with decent volume and demand. Still, the volume of bitcoin compared to its volume of last week is relatively low, and has decreased by over a billion dollars in the past 48 hours. Subsequent to its large rally on July 19, the price of bitcoin has struggled to initiate any major movement on the upside, mostly due to the lack of momentum in the crypto exchange market. Ether, Bitcoin Cash, and Ripple in particular have performed poorly against both bitcoin and the US dollar. The volatile movement of the market may open bitcoin and other major cryptocurrencies vulnerable to strong downward movements, and as BitMEX CEO Arthur Hayes emphasized, a drop below the $6,000 mark to bottom out in the $5,500 to $6,000 is still a possibility. “I don’t actually think we’ve seen the worst. I would like to see us test $5,000 to really see if we put a bottom in. But come back in Q3, Q4, I think is when the party is going to start again,” Hayes said. Currently, the market and community are generally optimistic, mostly due to the strong performance of bitcoin since earlier this week, but other major assets and tokens have not been performing as well as bitcoin against the US dollar. Tokens Surge in Price ICON (ICX), 0x (ZRX), and Zilliqa (ZIL) have spiked by 5 to 10 percent on July 21, with ZRX recording a solid performance throughout this week, supported by the intent of Coinbase, the world’s largest crypto exchange to integrate ZRX in the near future. Against bitcoin, ZRX experienced an 8 percent rise in its value, as its dollar price rose from $1.02 to $1.18. Overall, the crypto market is in a positive position to continue its momentum, but as Hayes and other experts have noted, it will need to demonstrate stability before eyeing 20 to 40 percent movements on the upside, and properly bottom out in the lower region. With Samsung accepting crypto in its stores and the G20 moving towards unified regulations around cryptocurrency exchanges, the crypto sector has shown enthusiasm towards the long-term growth of the market. Story continues If the G20 moves to unify crypto regulations by the end of 2018, led by the efforts of the Japanese government, it may lead the crypto market open to a larger group of accredited investors in leading economies. Featured image from Shutterstock. The post 0x Gains 12% and Tokens Rise During Volatile Cryptocurrency Markets appeared first on CCN . View comments \|\| Forget Netflix, Cord-Cutters Love This One Company: Netflixis often seen as the face of the cord-cutting movement, a service where you can essentially stream what you want, when you want, for a reasonable monthly fee. With a massive content library that'sabout to get even largeras the company plans to spend $13 billion on new, original programming, Netflix is a cord-cutter's dream. Yet while the streaming service has the content videophiles are looking for, a recent report on the websiteCord CuttersNewssays there's another company that's beloved every bit as much by people wanting to distance themselves from their cable TV company:Roku(NASDAQ: ROKU). Image source: Getty Images. Results from the industry site's quarterly consumer survey show that when it comes to those looking beyond the cable box, Roku leads the pack. For the third straight year, a sampling of over 2,000 people who have cut the cord shows that more than 70% of them own a Roku device, whether it is one of its streaming devices or a Roku TV. The significance of Roku's dominance is found in what it is going up against.Amazon.com's(NASDAQ: AMZN)Fire TV is the second most popular streaming device. But with just 35% of those surveyed saying they had one, that puts it far behind the leader. Similarly, just 24% of consumers hadApple's(NASDAQ: AAPL)Apple TV. The numbers of the survey don't sum to 100% because some consumers have more than one streaming device. The results are supported by TabloTV, which makes DVRs that allow consumers to record any over-the-air broadcast on any device. It tweeted in response to the survey by Cord Cutter News that Roku "also controls 70% of Tablo OTA DVRs!" Roku is using its leadership position to further grow its business. Advertising is becoming one of the keys to its results, withplatform revenue surpassing sales of its streaming playersfor the first time last quarter. Some $70 billion is spent on television advertising each year, and Roku is anticipating it will grab a growing percentage of that, particularly after launching the advertiser-supported Roku Channel, which has quickly become one of the top 10 channels on Roku devices, based on hours streamed. Citing statistics from Nielsen, Roku says 10% of those 18 to 34 years old in the U.S. can only be reached through the Roku platform. Beyond just video advertising, Roku display advertising is a growth channel, too. It added 6.6 million new accounts from last year -- a 1.5 million sequential increase -- giving it 21 million active user accounts, half of whom have cut the cord with cable or were never tethered to it in the first place. That suggests streaming apps will pay top dollar for landing on its home screen. Indeed, Cord Cutter News finds that many services launch on Roku first before moving onto other devices. It points to apps from Sling TV and Philo as two examples of apps that made their splash on Roku first, though it also notes that some services surprisingly don't prioritize Roku's platform. Beyond just cord-cutters, though, investors should also take note of where this race is heading. The survey also found that when it comes to which device consumers were planning to purchase, they chose a Roku more than two-to-one over Amazon's Fire TV. Having combined simplicity and price with its early first-mover status, Roku has created an offering that is hard to beat. It also indicates why the service is smart not to abandon its hardware business as it develops the platform side to become its primary source of revenue. This may not be an exact replica of a razor-and-blade business model, as Roku isn't quite giving away its hardware. But the service has found a way to cut through the noise in the cord-cutter market and land firmly in the forefront of the industry by using the hardware to push advertising. The two-pronged approach ensures that Roku will be the market leader well into the future, and consumers seem thrilled with that outlook. More From The Motley Fool • 3 Growth Stocks at Deep-Value Prices • 5 Expected Social Security Changes in 2018 • 6 Years Later, 6 Charts That Show How Far Apple, Inc. Has Come Since Steve Jobs' Passing • 10 Best Stocks to Buy Today • The $16,122 Social Security Bonus You Cannot Afford to Miss • Bitcoin's Biggest Competitor Isn't Ethereum -- It's This John Mackey, CEO of Whole Foods Market, an Amazon subsidiary, is a member of The Motley Fool's board of directors.Rich Dupreyhas no position in any of the stocks mentioned. The Motley Fool owns shares of and recommends Amazon, Apple, and Netflix. The Motley Fool has the following options: long January 2020 $150 calls on Apple and short January 2020 $155 calls on Apple. The Motley Fool has adisclosure policy. \|\| Forget Netflix, Cord-Cutters Love This One Company: Netflix is often seen as the face of the cord-cutting movement, a service where you can essentially stream what you want, when you want, for a reasonable monthly fee. With a massive content library that's about to get even larger as the company plans to spend $13 billion on new, original programming, Netflix is a cord-cutter's dream. Yet while the streaming service has the content videophiles are looking for, a recent report on the website Cord Cutters News says there's another company that's beloved every bit as much by people wanting to distance themselves from their cable TV company: Roku (NASDAQ: ROKU) . Woman standing in front of numerous screens Image source: Getty Images. Roku holds the clear lead Results from the industry site's quarterly consumer survey show that when it comes to those looking beyond the cable box, Roku leads the pack. For the third straight year, a sampling of over 2,000 people who have cut the cord shows that more than 70% of them own a Roku device, whether it is one of its streaming devices or a Roku TV. The significance of Roku's dominance is found in what it is going up against. Amazon.com 's (NASDAQ: AMZN) Fire TV is the second most popular streaming device. But with just 35% of those surveyed saying they had one, that puts it far behind the leader. Similarly, just 24% of consumers had Apple 's (NASDAQ: AAPL) Apple TV. The numbers of the survey don't sum to 100% because some consumers have more than one streaming device. The results are supported by TabloTV, which makes DVRs that allow consumers to record any over-the-air broadcast on any device. It tweeted in response to the survey by Cord Cutter News that Roku "also controls 70% of Tablo OTA DVRs!" Taking full advantage Roku is using its leadership position to further grow its business. Advertising is becoming one of the keys to its results, with platform revenue surpassing sales of its streaming players for the first time last quarter. Some $70 billion is spent on television advertising each year, and Roku is anticipating it will grab a growing percentage of that, particularly after launching the advertiser-supported Roku Channel, which has quickly become one of the top 10 channels on Roku devices, based on hours streamed. Citing statistics from Nielsen, Roku says 10% of those 18 to 34 years old in the U.S. can only be reached through the Roku platform. Story continues Beyond just video advertising, Roku display advertising is a growth channel, too. It added 6.6 million new accounts from last year -- a 1.5 million sequential increase -- giving it 21 million active user accounts, half of whom have cut the cord with cable or were never tethered to it in the first place. That suggests streaming apps will pay top dollar for landing on its home screen. Indeed, Cord Cutter News finds that many services launch on Roku first before moving onto other devices. It points to apps from Sling TV and Philo as two examples of apps that made their splash on Roku first, though it also notes that some services surprisingly don't prioritize Roku's platform. Many more plan to switch, too Beyond just cord-cutters, though, investors should also take note of where this race is heading. The survey also found that when it comes to which device consumers were planning to purchase, they chose a Roku more than two-to-one over Amazon's Fire TV. Having combined simplicity and price with its early first-mover status, Roku has created an offering that is hard to beat. It also indicates why the service is smart not to abandon its hardware business as it develops the platform side to become its primary source of revenue. This may not be an exact replica of a razor-and-blade business model, as Roku isn't quite giving away its hardware. But the service has found a way to cut through the noise in the cord-cutter market and land firmly in the forefront of the industry by using the hardware to push advertising. The two-pronged approach ensures that Roku will be the market leader well into the future, and consumers seem thrilled with that outlook. More From The Motley Fool 3 Growth Stocks at Deep-Value Prices 5 Expected Social Security Changes in 2018 6 Years Later, 6 Charts That Show How Far Apple, Inc. Has Come Since Steve Jobs' Passing 10 Best Stocks to Buy Today The $16,122 Social Security Bonus You Cannot Afford to Miss Bitcoin's Biggest Competitor Isn't Ethereum -- It's This John Mackey, CEO of Whole Foods Market, an Amazon subsidiary, is a member of The Motley Fool's board of directors. Rich Duprey has no position in any of the stocks mentioned. The Motley Fool owns shares of and recommends Amazon, Apple, and Netflix. The Motley Fool has the following options: long January 2020 $150 calls on Apple and short January 2020 $155 calls on Apple. The Motley Fool has a disclosure policy . \|\| Disney World's Top Rival Is Winning the Water Park War: Comcast (NASDAQ: CMCSA) has been conceding defeat to Disney (NYSE: DIS) lately. It bowed out of the bidding war for Twenty-First Century Fox 's content assets earlier this week, and Comcast's Universal Orlando fell behind in 2017 in terms of attendance after years of gaining ground on Disney World. Universal Studios Florida and Islands of Adventure saw their combined attendance rise 2% last year, according to industry tracker Themed Entertainment Association. Disney World's four theme parks saw their overall audience counts grow by nearly 4%. With Disney now a lock to close on its purchase of fresh entertainment properties and big investments at its Florida theme parks, one might conclude that the next few years are Disney's to lose. However, Comcast's Universal Orlando is gaining ground when it comes to water parks, an area that Disney can't afford to keep neglecting if it wants to keep dominating the busy central Florida attractions landscape. Volcano Bay's icon as seen from the pool chair beach. Image source: Comcast's Volcano Bay. Erupting on the scene Comcast's Volcano Bay opened in late May of last year, and it's been a game changer . The high-tech watery oasis runs circles around Disney World's older Blizzard Beach and Typhoon Lagoon attractions in terms of thrills, queueing up for rides, and immersive diversions. Guests are given wearable bracelets as they arrive that they use to reserve wait times for the more popular slides. Volcano Bay's signature Krakatau water coaster weaves in and out of the park's flagship volcano structure, putting Typhoon Lagoon's old school rendition to shame. Comcast is beating Disney at its own game. Volcano Bay had a fair share of hiccups when it initially opened. There were crowd control issues, lulls between attraction return times, and the park often had to turn away guests on capacity constraints. The first wave of reviews was brutal. Despite the challenges, its abridged rookie year was a success. Volcano Bay attracted 1.5 million guests in 2017. Disney's Typhoon Lagoon and Blizzard Beach clocked in with attendance of 2.163 million and 1.945 million, respectively, despite being open for nearly five more months than Comcast's debutante. Story continues Attendance at Disney World's water parks declined a combined 6% last year, a sharp contrast to the increase at its larger theme parks. Weather wasn't always kind, but clearly Volcano Bay had a gravitational pull away from the established water parks. It wouldn't be a surprise if Comcast's Volcano Bay overtakes Blizzard Beach and possibly even Typhoon Lagoon in turnstile clicks in 2018, its first full year of operation. It will definitely overtake each of the Disney parks in revenue, as Volcano Bay tickets cost more, and there's a wider array of food and beverage options available once inside. Disney will have to decide if it wants to concede the sea battle. It's been years since Blizzard Beach has added a substantial new ride or water slide. Typhoon Lagoon added a tame family raft ride last year, but it came at the expense of removing a popular and unique snorkeling attraction. In short, Disney's been phoning it in with its water parks, just as it did with its theme parks until Comcast began gaining ground following the 2010 debut of the Wizarding World of Harry Potter. Disney World finally raised the bar last year with its Flight of Passage flying banshee simulator, and it will likely do the same when Star Wars: Galaxy's Edge takes off in late 2019. Volcano Bay needs to provide the same kind of wake-up call to Disney's two water parks that it received with its theme parks following Comcast's Harry Potter-themed rejuvenation. Comcast isn't going away, and it has already started developing a tract of land that is larger than its entire existing resort . Disney has a window, but it may only be open for a couple of years. It's time to take its water parks to the next level. More From The Motley Fool 3 Growth Stocks at Deep-Value Prices 5 Expected Social Security Changes in 2018 6 Years Later, 6 Charts That Show How Far Apple, Inc. Has Come Since Steve Jobs' Passing 10 Best Stocks to Buy Today The $16,122 Social Security Bonus You Cannot Afford to Miss Bitcoin's Biggest Competitor Isn't Ethereum -- It's This Rick Munarriz owns shares of Walt Disney. The Motley Fool owns shares of and recommends Walt Disney. The Motley Fool has a disclosure policy . \|\| Disney World's Top Rival Is Winning the Water Park War: Comcast(NASDAQ: CMCSA)has been conceding defeat toDisney(NYSE: DIS)lately. Itbowed out of the bidding warforTwenty-First Century Fox's content assets earlier this week, and Comcast's Universal Orlando fell behind in 2017 in terms of attendance after years of gaining ground on Disney World. Universal Studios Florida and Islands of Adventure saw their combined attendance rise 2% last year, according to industry tracker Themed Entertainment Association. Disney World's four theme parks saw their overall audience counts grow by nearly 4%. With Disney now a lock to close on its purchase of fresh entertainment properties and big investments at its Florida theme parks, one might conclude that the next few years are Disney's to lose. However, Comcast's Universal Orlando is gaining ground when it comes to water parks, an area that Disney can't afford to keep neglecting if it wants to keep dominating the busy central Florida attractions landscape. Image source: Comcast's Volcano Bay. Comcast's Volcano Bay opened in late May of last year, and it's been agame changer. The high-tech watery oasis runs circles around Disney World's older Blizzard Beach and Typhoon Lagoon attractions in terms of thrills, queueing up for rides, and immersive diversions. Guests are given wearable bracelets as they arrive that they use to reserve wait times for the more popular slides. Volcano Bay's signature Krakatau water coaster weaves in and out of the park's flagship volcano structure, putting Typhoon Lagoon's old school rendition to shame. Comcast is beating Disney at its own game. Volcano Bay had afair share of hiccupswhen it initially opened. There were crowd control issues, lulls between attraction return times, and the park often had to turn away guests on capacity constraints. The first wave of reviews was brutal. Despite the challenges, its abridged rookie year was a success. Volcano Bay attracted 1.5 million guests in 2017. Disney's Typhoon Lagoon and Blizzard Beach clocked in with attendance of 2.163 million and 1.945 million, respectively, despite being open for nearly five more months than Comcast's debutante. Attendance at Disney World's water parks declined a combined 6% last year, a sharp contrast to the increase at its larger theme parks. Weather wasn't always kind, but clearly Volcano Bay had a gravitational pull away from the established water parks. It wouldn't be a surprise if Comcast's Volcano Bay overtakes Blizzard Beach and possibly even Typhoon Lagoon in turnstile clicks in 2018, its first full year of operation. It will definitely overtake each of the Disney parks in revenue, as Volcano Bay tickets cost more, and there's a wider array of food and beverage options available once inside. Disney will have to decide if it wants to concede the sea battle. It's been years since Blizzard Beach has added a substantial new ride or water slide. Typhoon Lagoon added a tame family raft ride last year, but it came at the expense of removing a popular and unique snorkeling attraction. In short, Disney's been phoning it in with its water parks, just as it did with its theme parks until Comcast began gaining ground following the 2010 debut of the Wizarding World of Harry Potter. Disney World finally raised the bar last year with its Flight of Passage flying banshee simulator, and it will likely do the same when Star Wars: Galaxy's Edge takes off in late 2019. Volcano Bay needs to provide the same kind of wake-up call to Disney's two water parks that it received with its theme parks following Comcast's Harry Potter-themed rejuvenation. Comcast isn't going away, and it has already started developing a tract of land that islarger than its entire existing resort. Disney has a window, but it may only be open for a couple of years. It's time to take its water parks to the next level. More From The Motley Fool • 3 Growth Stocks at Deep-Value Prices • 5 Expected Social Security Changes in 2018 • 6 Years Later, 6 Charts That Show How Far Apple, Inc. Has Come Since Steve Jobs' Passing • 10 Best Stocks to Buy Today • The $16,122 Social Security Bonus You Cannot Afford to Miss • Bitcoin's Biggest Competitor Isn't Ethereum -- It's This Rick Munarrizowns shares of Walt Disney. The Motley Fool owns shares of and recommends Walt Disney. The Motley Fool has adisclosure policy. \|\| Want To Spend Your Crypto?: TALLINN, ESTONIA / ACCESSWIRE / July 21, 2018 /The Cryptassist platform will include a comprehensive database where users can view where they can spend their cryptocurrencies, online and offline. Introducing the Cryptassist Where to Spend Crypto Database The feature will allow users to search for locations, websites, services or products that can be paid for in cryptocurrency. The feature is customizable by the user and can be linked to their portfolio so that only the relevant coins and information are provided. Searchable Maps Maps will be available which will be searchable using geographical or product-specific criteria. Searches will show nearby locations, products or services where cryptocurrencies are accepted. A user will be able to submit via an online application form for the inclusion of places where crypto can be spent. To learn more about the Cryptassist Where to Spend Crypto Database or the Cryptassist platform, please visit our website or download our Whitepaper atwww.cryptassist.io Connect with Cryptassist: • Email:[email protected] • Facebook:https://www.facebook.com/cryptassistcoin • Twitter:https://www.twitter.com/cryptassistcoin • Instagram:https://www.instagram.com/cryptassistcoin/ • Youtube:https://www.youtube.com/c/CryptAssistCoin • Medium:https://medium.com/@cryptassistcoin • VK:https://vk.com/cryptassistcoin • LinkedIn:https://www.linkedin.com/company/cryptassist/ • Reddit:https://www.reddit.com/r/CryptAssist/ • Telegram Group:https://t.me/CryptAssistCoin • Bitcointalk ANN:https://bitcointalk.org/index.php?topic=4553885.0 SOURCE:Cryptassist \|\| Want To Spend Your Crypto?: TALLINN, ESTONIA / ACCESSWIRE / July 21, 2018 / The Cryptassist platform will include a comprehensive database where users can view where they can spend their cryptocurrencies, online and offline. Introducing the Cryptassist Where to Spend Crypto Database The feature will allow users to search for locations, websites, services or products that can be paid for in cryptocurrency. The feature is customizable by the user and can be linked to their portfolio so that only the relevant coins and information are provided. Searchable Maps Maps will be available which will be searchable using geographical or product-specific criteria. Searches will show nearby locations, products or services where cryptocurrencies are accepted. A user will be able to submit via an online application form for the inclusion of places where crypto can be spent. To learn more about the Cryptassist Where to Spend Crypto Database or the Cryptassist platform, please visit our website or download our Whitepaper at www.cryptassist.io Connect with Cryptassist: Email: [email protected] Facebook: https://www.facebook.com/cryptassistcoin Twitter: https://www.twitter.com/cryptassistcoin Instagram: https://www.instagram.com/cryptassistcoin/ Youtube: https://www.youtube.com/c/CryptAssistCoin Medium: https://medium.com/@cryptassistcoin VK: https://vk.com/cryptassistcoin LinkedIn: https://www.linkedin.com/company/cryptassist/ Reddit: https://www.reddit.com/r/CryptAssist/ Telegram Group: https://t.me/CryptAssistCoin Bitcointalk ANN: https://bitcointalk.org/index.php?topic=4553885.0 SOURCE: Cryptassist \|\| South Africas Secluded Whites-Only Orania Community is Testing a Digital Currency: Exclusively populated by Afrikaners, the town of Orania located in the remote parts of South Africas Northern Cape Province, has had its own currency known as the Ora since 2004. Pegged to the rand, the Orania Chamber of Commerce has been responsible for printing the communitys currency. Now the town of approximately 1,600 people is experimenting with a digital currency version of the Ora, the E-Ora, as a way of further solidifying their independence. Safe-Haven from Devaluation or Hyper-Inflation According to the Associated Press, the experiment began in January though the idea had been announced last year as CCN had reported . Per the Orania Chamber of Commerce chairman, Daniel Dames, the E-Ora will offer respite if the South African rand suffers from hyper-inflation or devaluation. As it is not a cryptocurrency in the mold of Bitcoin , for instance, the proponents of the E-Ora harbor the vision of ultimately pegging the digital currency to a hard currency. If the rand became so weak that one were to decide to walk away from it, one could perhaps couple (the E-Ora) to something else, such as a basket of currencies out there. Or something inside Orania. Something comparable that has value, Dames told the Associated Press. Work on the digital currency is however still ongoing. The Orania Chamber of Commerce met with various people engaged in the finalization of the eOra (Orania crypto currency) at the Orania Movement offices. Among them @Dawie_Roodt . pic.twitter.com/41sL9QkQBc Orania Afrikaner Homeland (@OraniaHomeland) July 11, 2018 According to some of the Orania community members who have been using the E-Ora, some of the advantages that the digital currency has offered include low transaction costs with some already using it to shop via their mobile phones. The digital currency also offers convenience since it makes it unnecessary to carry cash around. Story continues Cheaper to Produce Additionally, the E-Ora will eliminate the expenses of printing paper notes as well as reducing transaction costs. It is basically electronic cash that will be moved from wallet to wallet with every transaction without the commercial banks standing in the middle. In this way friction and cost is removed from the transaction. Both consumers and retailers will save between three and five per cent per transaction, Peter Krige, the coordinator of Oranias digital currency initiative said last year when the plans were initially announced. During the testing phase of the E-Ora digital currency , the transaction costs have been averaging around 0.5%. The proponents of the Ora currency, and by extension the E-Ora, also argue that the digital currency will assist in preserving their Afrikaans culture. Nearing Three Decades of Existence Established by Carel Boshoff in 1991, Orania is situated on private land that measures 8,000 hectares. The community which regularly generates controversy over its lack of racial diversity has two schools and its own municipal services. Its economy is heavily reliant on tourism and agriculture and currently Oranias own statistics suggest it enjoys an unemployment rate of 2% compared to a South Africa-wide rate of 26.7%. The post South Africas Secluded Whites-Only Orania Community is Testing a Digital Currency appeared first on CCN . \|\| South Africa’s Secluded Whites-Only Orania Community is Testing a Digital Currency: Exclusively populated by Afrikaners, the town of Orania located in the remote parts ofSouth Africa’sNorthern Cape Province, has had its own currency known as the Ora since 2004. Pegged to the rand, the Orania Chamber of Commerce has been responsible for printing the community’s currency. Now the town of approximately 1,600 people is experimenting with a digital currency version of the Ora, the E-Ora, as a way of further solidifying their independence. According to the Associated Press, the experiment began in January though the idea had been announced last year as CCNhad reported. Per the Orania Chamber of Commerce chairman, Daniel Dames, the E-Ora will offer respite if the South African rand suffers from hyper-inflation or devaluation. As it is not a cryptocurrency in the mold ofBitcoin, for instance, the proponents of the E-Ora harbor the vision of ultimately pegging the digital currency to a hard currency. “If the rand became so weak that one were to decide to walk away from it, one could perhaps couple (the E-Ora) to something else, such as a basket of currencies out there. Or something inside Orania. Something comparable that has value,” Damestoldthe Associated Press. Work on the digital currency is however still ongoing. According to some of the Orania community members who have been using the E-Ora, some of the advantages that the digital currency has offered include low transaction costs with some already using it to shop via their mobile phones. The digital currency also offers convenience since it makes it unnecessary to carry cash around. Additionally, the E-Ora will eliminate the expenses of printing paper notes as well as reducing transaction costs. “It is basically electronic cash that will be moved from wallet to wallet with every transaction without the commercial banks standing in the middle. In this way friction and cost is removed from the transaction. Both consumers and retailers will save between three and five per cent per transaction,” Peter Krige, the coordinator of Orania’s digital currency initiativesaidlast year when the plans were initially announced. During the testing phase of the E-Oradigital currency, the transaction costs have been averaging around 0.5%. The proponents of the Ora currency, and by extension the E-Ora, also argue that the digital currency will assist in preserving their Afrikaans culture. Established by Carel Boshoff in 1991, Orania is situated on private land that measures 8,000 hectares. The community which regularly generates controversy over its lack of racial diversity has two schools and its own municipal services. Its economy is heavily reliant on tourism and agriculture and currently Orania’s own statistics suggest it enjoys an unemployment rate of 2% compared to a South Africa-widerateof 26.7%. The postSouth Africa’s Secluded Whites-Only Orania Community is Testing a Digital Currencyappeared first onCCN. \|\| China's Crypto Millionaires Are Using Bitcoin to Buy Real Estate Abroad: The chives growing in one crypto tycoon's California mansion carry a hidden message. Guo Hongcai, a beef salesman turned early bitcoin adopter from China's Shanxi province, is one of many freshly minted millionaires funneling parts of their wealth out of the country by purchasing real estate abroad. In April, Hongcai sold 500 bitcoin in the U.S. then used that money to buy a 100,000-square-foot mansion in Los Gatos, a 90-minute drive from San Francisco, California. His Rolls-Royce, also purchased with the fruits of bitcoin arbitrage, sits in the driveway close to a small chives garden. Crypto Trading 101: Bull and Bear Flags (And What They Mean for Price) "It's very normal to sell bitcoin in the U.S. After selling bitcoin, you can just buy anything you want," he told CoinDesk. Guo calls this secondary residence his "Mansion of Chives," because the vegetable is also Chinese slang for crypto investors who prove vulnerable to big sell-offs. AsChinese regulatorsclamp down on industry business on the mainland, crypto millionaires are turning to foreign real estate markets to diversify their holdings. Some purchase property directly with crypto, others like Hongcai use bitcoin to gain foreign currencies without going through a bank. The founders of one U.S. crypto real estate startup, who spoke on condition of anonymity, told CoinDesk roughly one-third of their prospective users hail from Asia, figures which include Chinese investors seeking tokenized property rights through Hong Kong securities brokers. $8K In Reach? 4 Barriers Await Emboldened Bitcoin Bulls According to theSouth China Morning Post, real estate purchased in Hong Kong doesn't require the same taxes and documentation as other financial assets held abroad. Chinese investment inforeign real estate, often through Hong Kong brokers, has been rising for years. Now early bitcoin adopters are utilizing new wealth for familiar patterns. "The requests we have from them start at $50,000 or $100,000 up to, the latest one was $3 to $4 million for Silicon Valley," Natalia Karayaneva, CEO ofPropy, another crypto-powered real estate marketplace, told CoinDesk. She added: "We're seeing that more and more people are willing to buy properties with cryptocurrencies because it's getting easier to get their money out of the country using bitcoin, rather than establishing a bank account based in Hong Kong and getting their money out of the country using business channels." According to Karayaneva, the U.S. and the U.K. are the most sought-after locations for real estate, especially fintech hubs like London or California's Bay Area. "They were mostly interested in residential properties next to good education, like Stanford," she said. "Also, they want to diversify. They want to have parts of their assets abroad in more stable countries." So far, around half of the traffic to Propy's website comes from China, out of 50,000 monthly views. It's a trend that has implications far beyond China, though, especially in California, where, according to statistics gathered over a decade byATTOM Data Solutions, nearly a quarter of all single-family homes are now purchased in all-cash transactions without a mortgage. According to CEO Roy Dekel atSetSchedule, a California-based startup helping licensed real estate agents connect with buyers and homeowners, it's more common for Chinese bitcoin veterans to convert cryptocurrency into cash than to buy property directly with it. "We have noticed a drop in Chinese interest, but certain cities like Los Angeles, San Francisco, and New York remain strong," he told CoinDesk. "The ultra-wealthy Chinese have used this source as a diversification of investment." On the other hand, Dekel also noticed "many blockchain enthusiasts" are buying second homes or investment properties, leading to an uptick in sellers interested in accepting cryptocurrencies directly from international buyers. Since platforms like Propy are compliant across jurisdictions, the reason behind this trend may go beyond tax evasion, speaking to real pain points in legitimate markets. In January,The New York Timesasserted that China'sexorbitanthousing market is "like a casino." Further,Reutersreported property development restrictions continue to tighten, such as reduced subsidies for housing developers. "In Beijing, only last year they saw a 40 percent rise in price," Karayaneva said. "Historically, real estate investors from China are very active abroad because their own property market is going crazy." All things considered, Chinese buyers are hardly the only ones purchasing property with cryptocurrency. In 2017, Europeans used bitcoin to buy luxury apartments in Dubai'sAston Crypto Plaza, a project spearheaded by British Baroness Michelle Mone. Wherever it's taking place, though, it has become increasingly clear that crypto wealth could have a real impact on global real estate patterns. Door image viaShutterstock • Police Force Confiscates 295 Bitcoins from Criminal in UK First • Financial Exchange Thinks Blockchain Can Keep Online Auctions Fair \|\| China's Crypto Millionaires Are Using Bitcoin to Buy Real Estate Abroad: Bitcoin is flowing out of China, into California mansions and changing global real estate patterns. The chives growing in one crypto tycoon's California mansion carry a hidden message. Guo Hongcai, a beef salesman turned early bitcoin adopter from China's Shanxi province, is one of many freshly minted millionaires funneling parts of their wealth out of the country by purchasing real estate abroad. In April, Hongcai sold 500 bitcoin in the U.S. then used that money to buy a 100,000-square-foot mansion in Los Gatos, a 90-minute drive from San Francisco, California. His Rolls-Royce, also purchased with the fruits of bitcoin arbitrage, sits in the driveway close to a small chives garden. Crypto Trading 101: Bull and Bear Flags (And What They Mean for Price) "It's very normal to sell bitcoin in the U.S. After selling bitcoin, you can just buy anything you want," he told CoinDesk. Guo calls this secondary residence his "Mansion of Chives," because the vegetable is also Chinese slang for crypto investors who prove vulnerable to big sell-offs. As Chinese regulators clamp down on industry business on the mainland, crypto millionaires are turning to foreign real estate markets to diversify their holdings. Some purchase property directly with crypto, others like Hongcai use bitcoin to gain foreign currencies without going through a bank. The founders of one U.S. crypto real estate startup, who spoke on condition of anonymity, told CoinDesk roughly one-third of their prospective users hail from Asia, figures which include Chinese investors seeking tokenized property rights through Hong Kong securities brokers. $8K In Reach? 4 Barriers Await Emboldened Bitcoin Bulls According to the South China Morning Post , real estate purchased in Hong Kong doesn't require the same taxes and documentation as other financial assets held abroad. Chinese investment in foreign real estate , often through Hong Kong brokers, has been rising for years. Now early bitcoin adopters are utilizing new wealth for familiar patterns. Story continues "The requests we have from them start at $50,000 or $100,000 up to, the latest one was $3 to $4 million for Silicon Valley," Natalia Karayaneva, CEO of Propy , another crypto-powered real estate marketplace, told CoinDesk. She added: "We're seeing that more and more people are willing to buy properties with cryptocurrencies because it's getting easier to get their money out of the country using bitcoin, rather than establishing a bank account based in Hong Kong and getting their money out of the country using business channels." Crypto hubs According to Karayaneva, the U.S. and the U.K. are the most sought-after locations for real estate, especially fintech hubs like London or California's Bay Area. "They were mostly interested in residential properties next to good education, like Stanford," she said. "Also, they want to diversify. They want to have parts of their assets abroad in more stable countries." So far, around half of the traffic to Propy's website comes from China, out of 50,000 monthly views. It's a trend that has implications far beyond China, though, especially in California, where, according to statistics gathered over a decade by ATTOM Data Solutions , nearly a quarter of all single-family homes are now purchased in all-cash transactions without a mortgage. According to CEO Roy Dekel at SetSchedule , a California-based startup helping licensed real estate agents connect with buyers and homeowners, it's more common for Chinese bitcoin veterans to convert cryptocurrency into cash than to buy property directly with it. "We have noticed a drop in Chinese interest, but certain cities like Los Angeles, San Francisco, and New York remain strong," he told CoinDesk. "The ultra-wealthy Chinese have used this source as a diversification of investment." High rollers On the other hand, Dekel also noticed "many blockchain enthusiasts" are buying second homes or investment properties, leading to an uptick in sellers interested in accepting cryptocurrencies directly from international buyers. Since platforms like Propy are compliant across jurisdictions, the reason behind this trend may go beyond tax evasion, speaking to real pain points in legitimate markets. In January, The New York Times asserted that China's exorbitant housing market is "like a casino." Further, Reuters reported property development restrictions continue to tighten, such as reduced subsidies for housing developers. "In Beijing, only last year they saw a 40 percent rise in price," Karayaneva said. "Historically, real estate investors from China are very active abroad because their own property market is going crazy." All things considered, Chinese buyers are hardly the only ones purchasing property with cryptocurrency. In 2017, Europeans used bitcoin to buy luxury apartments in Dubai's Aston Crypto Plaza , a project spearheaded by British Baroness Michelle Mone. Wherever it's taking place, though, it has become increasingly clear that crypto wealth could have a real impact on global real estate patterns. Door image via Shutterstock Related Stories Police Force Confiscates 295 Bitcoins from Criminal in UK First Financial Exchange Thinks Blockchain Can Keep Online Auctions Fair \|\| China's Crypto Millionaires Are Using Bitcoin to Buy Real Estate Abroad: The chives growing in one crypto tycoon's California mansion carry a hidden message. Guo Hongcai, a beef salesman turned early bitcoin adopter from China's Shanxi province, is one of many freshly minted millionaires funneling parts of their wealth out of the country by purchasing real estate abroad. In April, Hongcai sold 500 bitcoin in the U.S. then used that money to buy a 100,000-square-foot mansion in Los Gatos, a 90-minute drive from San Francisco, California. His Rolls-Royce, also purchased with the fruits of bitcoin arbitrage, sits in the driveway close to a small chives garden. Crypto Trading 101: Bull and Bear Flags (And What They Mean for Price) "It's very normal to sell bitcoin in the U.S. After selling bitcoin, you can just buy anything you want," he told CoinDesk. Guo calls this secondary residence his "Mansion of Chives," because the vegetable is also Chinese slang for crypto investors who prove vulnerable to big sell-offs. AsChinese regulatorsclamp down on industry business on the mainland, crypto millionaires are turning to foreign real estate markets to diversify their holdings. Some purchase property directly with crypto, others like Hongcai use bitcoin to gain foreign currencies without going through a bank. The founders of one U.S. crypto real estate startup, who spoke on condition of anonymity, told CoinDesk roughly one-third of their prospective users hail from Asia, figures which include Chinese investors seeking tokenized property rights through Hong Kong securities brokers. $8K In Reach? 4 Barriers Await Emboldened Bitcoin Bulls According to theSouth China Morning Post, real estate purchased in Hong Kong doesn't require the same taxes and documentation as other financial assets held abroad. Chinese investment inforeign real estate, often through Hong Kong brokers, has been rising for years. Now early bitcoin adopters are utilizing new wealth for familiar patterns. "The requests we have from them start at $50,000 or $100,000 up to, the latest one was $3 to $4 million for Silicon Valley," Natalia Karayaneva, CEO ofPropy, another crypto-powered real estate marketplace, told CoinDesk. She added: "We're seeing that more and more people are willing to buy properties with cryptocurrencies because it's getting easier to get their money out of the country using bitcoin, rather than establishing a bank account based in Hong Kong and getting their money out of the country using business channels." According to Karayaneva, the U.S. and the U.K. are the most sought-after locations for real estate, especially fintech hubs like London or California's Bay Area. "They were mostly interested in residential properties next to good education, like Stanford," she said. "Also, they want to diversify. They want to have parts of their assets abroad in more stable countries." So far, around half of the traffic to Propy's website comes from China, out of 50,000 monthly views. It's a trend that has implications far beyond China, though, especially in California, where, according to statistics gathered over a decade byATTOM Data Solutions, nearly a quarter of all single-family homes are now purchased in all-cash transactions without a mortgage. According to CEO Roy Dekel atSetSchedule, a California-based startup helping licensed real estate agents connect with buyers and homeowners, it's more common for Chinese bitcoin veterans to convert cryptocurrency into cash than to buy property directly with it. "We have noticed a drop in Chinese interest, but certain cities like Los Angeles, San Francisco, and New York remain strong," he told CoinDesk. "The ultra-wealthy Chinese have used this source as a diversification of investment." On the other hand, Dekel also noticed "many blockchain enthusiasts" are buying second homes or investment properties, leading to an uptick in sellers interested in accepting cryptocurrencies directly from international buyers. Since platforms like Propy are compliant across jurisdictions, the reason behind this trend may go beyond tax evasion, speaking to real pain points in legitimate markets. In January,The New York Timesasserted that China'sexorbitanthousing market is "like a casino." Further,Reutersreported property development restrictions continue to tighten, such as reduced subsidies for housing developers. "In Beijing, only last year they saw a 40 percent rise in price," Karayaneva said. "Historically, real estate investors from China are very active abroad because their own property market is going crazy." All things considered, Chinese buyers are hardly the only ones purchasing property with cryptocurrency. In 2017, Europeans used bitcoin to buy luxury apartments in Dubai'sAston Crypto Plaza, a project spearheaded by British Baroness Michelle Mone. Wherever it's taking place, though, it has become increasingly clear that crypto wealth could have a real impact on global real estate patterns. Door image viaShutterstock • Police Force Confiscates 295 Bitcoins from Criminal in UK First • Financial Exchange Thinks Blockchain Can Keep Online Auctions Fair \|\| Crypto Trading 101: Bull and Bear Flags (And What They Mean for Price): When it comes to making big money in trading, the trend is your friend. But spotting the trend when it is in the nascent stage is challenging, and running along with it right up to the top is an even bigger challenge. That's becauseÂ asset prices rarely see a 90-degree rally or collapse. More often than not, trends (bullish/bearish) will pause briefly to allow traders or investors who missed the initial move (higher or lower) to join the bandwagon. If the participation increases, the asset price extends the bull or bear run, or else a trend reversal may occur. China's Crypto Millionaires Are Using Bitcoin to Buy Real Estate Abroad A trader can spot trend extensions with the help of bullish or bearish continuation patterns, which occur in a variety of easily identifiable shapes, some of the most popular of which are known as bull and bear flags. A bull flag is appropriately spotted in an uptrend when the price is likely to continue upward, while the bear flag is conversely spotted in a downtrend when the price is likely to sink further. (While the implication of the pattern is far more important than its name, the "flag" terminology derives from its visual similarity to the fabric you'd see hanging outside a government building.) Who's In Control of Tezos? That Answer Is About to Change Each flag pattern consists of two main components: the pole and flag. The "pole" represents a strong impulsive move (higher/lower) and is backed by a surge in trading volume and the subsequent pause or consolidation the "flag," which looks like a falling or rising channel. The flag pattern can be invaluable for a trader in that there are clear points of success and failure to profit or mitigate risk from. If resistance breaks in a bull flag, the trader can be confident price will continue upwards roughly the length of the pole (popularly known as measured height method). If support of the bull flag is breached, the trader knows the pattern is invalid and continuation is unlikely. The exact opposite is the case for a bear flag. An asset usually mimics the pole after a bull flag breakout or bear flag breakdown. So, the target is derived as follows: • Bull flag breakout >> Pole height added to breakout price • Bear flag breakdown >> Pole height subtracted from breakout price • Pole height = pole high minus pole low The real world demonstrations of both flag types are depicted below. The Bull Flag • Asset: bitcoin (BTC) • Timeframe: 6-hour chart • Pattern: Bull flag breakout The cryptocurrency cleared the flag resistance on Feb. 20, 2017, signaling a continuation of the rally from the $917 low of the pole and opened upside towards $1,228 (target as per measured height method, i.e. pole height ($157) added to breakout price). Guess what, bitcoin came just $10 shy of price target on Feb. 24, 2017. • Asset: Ethereum (ETH) • Timeframe: 4-hour chart • Pattern: Bear flag breakdown In this case, ether broke the flag support on Mar. 17, 2018 suggesting continued depreciation from the $699 pole high and set scope for $463 (target as per measured height method, i.e. pole height ($133) deduced from breakdown price). Surprise, surprise, ether was just $12 shy of reaching the exact price target on March 18, 2018. Bull flags and bear flags can be a trader's friend in strongly trending markets, but they do not always perform as advertised. In some cases, the pattern can present a trap known as a "false breakout" when priceÂ breaches the boundary of the flag and quickly retraces. Waiting for a candlestick to close outside of the flag tends to addÂ credence to the breakout, and can help the trader mitigate risk. As a trader, you would want to avoid betting or punting on an asset price if the bull flag breakout of bear flag breakout is not backed by strong volumes. A low volume move usually ends up trapping investors on the wrong side of the market. Further, using indicators like the Relative Strength Index (RSI) to gauge scope for a rally following a breakout can help boost traders' success rates. READ:ÂTiming the Crypto Market With RSI (A Beginner's Guide) Trading candlesÂ image via Shutterstock • $8K In Reach? 4 Barriers Await Emboldened Bitcoin Bulls • Police Force Confiscates 295 Bitcoins from Criminal in UK First [Social Media Buzz] Jul 22, 2018 06:30:00 UTC \| 7,389.20$ \| 6,299.90€ \| 5,626.40£ \| #Bitcoin #btc pic.twitter.com/DeSH0A3OJD \|\| 1H 2018/07/22 18:00 (2018/07/22 17:00) LONG : 33514.25 BTC (-121.05 BTC) SHORT : 20244.49 BTC (-15.38 BTC) LS比 : 62% vs 37% (62% vs 37%) \|\| 1 BTC = 28610.00000000 BRL em 22/07/2018 ás 19:00:01. #bitcoin #bitcoinbr #bitcoinexchangebr \|\| This tweet, "Bitcoin (0.26): $7,465.58 Ethereum (0.4): $467.29 XRP (0.3): $0.45 Bitcoin Cash (0.92): $799.74 EOS (0.47): $8.15 Stellar (0.21): $0.29 Lite...	7711.11, 8424.27, 8181.39, 7951.58, 8165.01, 8192.15, 8218.46, 8180.48, 7780.44, 7624.91
Given the historical Bitcoin prices from the last 90 days, predict the next 10 daily closing prices. The historical prices are: 10975.60, 11074.60, 11323.20, 11657.20, 11916.70, 14291.50, 17899.70, 16569.40, 15178.20, 15455.40, 16936.80, 17415.40, 16408.20, 16564.00, 17706.90, 19497.40, 19140.80, 19114.20, 17776.70, 16624.60, 15802.90, 13831.80, 14699.20, 13925.80, 14026.60, 16099.80, 15838.50, 14606.50, 14656.20, 12952.20, 14156.40, 13657.20, 14982.10, 15201.00, 15599.20, 17429.50, 17527.00, 16477.60, 15170.10, 14595.40, 14973.30, 13405.80, 13980.60, 14360.20, 13772.00, 13819.80, 11490.50, 11188.60, 11474.90, 11607.40, 12899.20, 11600.10, 10931.40, 10868.40, 11359.40, 11259.40, 11171.40, 11440.70, 11786.30, 11296.40, 10106.30, 10221.10, 9170.54, 8830.75, 9174.91, 8277.01, 6955.27, 7754.00, 7621.30, 8265.59, 8736.98, 8621.90, 8129.97, 8926.57, 8598.31, 9494.63, 10166.40, 10233.90, 11112.70, 10551.80, 11225.30, 11403.70, 10690.40, 10005.00, 10301.10, 9813.07, 9664.73, 10366.70, 10725.60, 10397.90.	[Bitcoin Technical Analysis for 2018-02-28] Volume: 6936189952, RSI (14-day): 51.30, 50-day EMA: 10679.53, 200-day EMA: 9090.61 [Wider Market Context] Gold Price: 1315.50, Gold RSI: 43.56 Oil Price: 61.64, Oil RSI: 46.44 [Recent News (last 7 days)] 3 Top Pharma Stocks With Dividend Yields Over 3%: It's no secret that investing in dividend-paying stocks is one of the best ways for everyday investors to create an income stream large enough to make their retirement dreams a reality.Merck & Co., Inc.(NYSE: MRK),Pfizer Inc.(NYSE: PFE), andAbbVie Inc.(NYSE: ABBV)all offer yields of 3.2% or higher right now. With the average stock in the benchmarkS&P 500index paying just 1.8%, these big pharma stocks are far too attractive to ignore. Of course, a juicy yield today won't help you accumulate much wealth if the payout doesn't grow. Let's look at what's driving profitability for these pharmaceutical giants to see if they can keep boosting payouts over the long run. Image source: Getty Images. This stock's fallen around 11% since the companywithdrew its European applicationfor Keytruda plus chemotherapy as a first-line treatment for metastatic non-small cell lung cancer late last year. As a result, the stock offers a fairly attractive 3.5% dividend yield at recent prices. First-line indications are highly coveted because these patients tend to stay on therapy much longer than those that relapse following their first treatments. Approval for a similar lung cancer indication in the U.S. helped Keytruda sales jump 172% last year to $3.8 billion, but hopes of a similar surge across the Atlantic are fading now that the company could lose the first-mover advantage. Merck soothed some concerns by publishing data from the Keynote-189 trial, which is intended to support a first-line lung cancer application in the U.S. that's nearly identical to the one it shelved in the EU. Merck hasn't shared the details, but Keynote-189 reached its main goals and the data will probably be used to bolster a resubmission for first-line lung cancer in the EU later this year. While there's a good chance that Keytruda sales will continue growing, older products are at a standstill or sinking. Merck's Januvia franchise sales fell 3% last year to $5.9 billion and sales ofcholesterol-reducingblockbuster Zetia fell 43% to $2.1 billion. With such stiff headwinds to overcome, the company expects total sales to rise by just 2% to 3% this year. Over the past five years, Merck raised its payout at a sluggish 2.3% annual rate. Despite being cautious, four quarterly payments at $0.48 per share work out to around 63% of the company's earnings expectations for 2018. Most big pharma's are comfortable withpayout ratiosin the 60% to 70% range, which suggests Merck's dividend isn't going to grow any faster than its bottom line. The average analyst following the stock expects earnings to rise at a 5.3% annual rate over the next five years. That's not terrible, but you can probably do better with Pfizer or AbbVie. Image source: Getty Images. Analysts following Pfizer expect its bottom line to grow a bit faster than Merck's. Combined with a much lower payout ratio, though, shares of America's largest pharmaceutical company are positioned to deliver more dividend growth than Merck's. Over the past five years, Pfizer raised its payout at a 7.8% annual rate, increasing it to 3.7% at recent prices. Even with a healthy rate of dividend increases in recent years, Pfizer's planned dividend payments for 2018 work out to just 46% of earnings expectations for the year. That low payout ratio gives the company a chance to boost payments at a rate faster than earnings growth, in the years ahead. Sagging sales of aging blockbusters are a problem for Pfizer as well, but it has a few more pieces moving in the right direction than Merck. Last year, sales of next-gen blood thinner Eliquis rose 47% to $2.5 billion and breast cancer therapy Ibrance surged 46% to $3.1 billion. Although total revenue fell a percentage point in 2017, cost-cutting and share buybacks helped lift adjusted earnings 11% to $2.65 per share. In 2017, Pfizer received a record 10 approvals from the FDA that will mostly expand addressable patient populations of already-marketed drugs, along with their sales potential. At last glance, Pfizer had around a half-dozen new drug candidates, plusbiosimilar versionsof six of today's blockbuster drugs, in late-stage development. The most important patents protecting Humira's exclusivity expired last year, butAmgen(NASDAQ: AMGN)signed a deallast September that prevents it from launching its biosimilar version of the drug until 2023. The anti-inflammatory, which makes up about two-thirds of AbbVie's total revenue, racked up a stunning $18.4 billion last year and is expected to hit $20 billion by 2022. At recent prices, AbbVie shares offer a 3.2% yield. Although that's a bit less than those of Pfizer and Merck, AbbVie grew adjusted earnings 16.2% to $5.60 last year and expects its bottom line to grow another 32% in 2018. The company's outstanding performance prompted the board to authorize a new $10 billion stock repurchase program and bump the dividend 35% higher this year. Although Humira will eventually become more of an albatross than a hot-air balloon, AbbVie has several candidates in late-stage development that could help offset the losses. Risankizumab is an experimental psoriasis treatment that showed a huge benefit overJohnson & Johnson's Stelara, a drug that generated $4.0 billion in global sales last year. Upadacitinib is another anti-inflammatory candidate with megablockbuster potential on its way to a Food and Drug Administration review soon. AbbVie intends to submit a rheumatoid arthritis application to regulators in the second half of the year, and pivotal trials with Crohn's disease and eczema patients are underway. AbbVie thinks a successful launch in multiple indications could drive upadacitinib sales to $6.5 billion by 2025. Overly optimistic peak sales estimates abound in this industry, but AbbVie has a habit of delivering results. There are no guarantees that any of the company's late-stage candidates will succeed, but this pharma stock has what it takes to deliver heaps of dividend income for years to come. More From The Motley Fool • 3 Growth Stocks at Deep-Value Prices • 5 Expected Social Security Changes in 2018 • 6 Years Later, 6 Charts That Show How Far Apple, Inc. Has Come Since Steve Jobs' Passing • 10 Best Stocks to Buy Today • The $16,122 Social Security Bonus You Cannot Afford to Miss • Bitcoin's Biggest Competitor Isn't Ethereum -- It's This Cory Renauerhas no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has adisclosure policy. \|\| 3 Top Pharma Stocks With Dividend Yields Over 3%: It's no secret that investing in dividend-paying stocks is one of the best ways for everyday investors to create an income stream large enough to make their retirement dreams a reality. Merck & Co., Inc. (NYSE: MRK) , Pfizer Inc. (NYSE: PFE) , and AbbVie Inc. (NYSE: ABBV) all offer yields of 3.2% or higher right now. With the average stock in the benchmark S&P 500 index paying just 1.8%, these big pharma stocks are far too attractive to ignore. Of course, a juicy yield today won't help you accumulate much wealth if the payout doesn't grow. Let's look at what's driving profitability for these pharmaceutical giants to see if they can keep boosting payouts over the long run. The word yield written above an upward sloping chart while a man points to the arrow. Image source: Getty Images. 1. Merck & Co.: Feeling withdrawn This stock's fallen around 11% since the company withdrew its European application for Keytruda plus chemotherapy as a first-line treatment for metastatic non-small cell lung cancer late last year. As a result, the stock offers a fairly attractive 3.5% dividend yield at recent prices. First-line indications are highly coveted because these patients tend to stay on therapy much longer than those that relapse following their first treatments. Approval for a similar lung cancer indication in the U.S. helped Keytruda sales jump 172% last year to $3.8 billion, but hopes of a similar surge across the Atlantic are fading now that the company could lose the first-mover advantage. Merck soothed some concerns by publishing data from the Keynote-189 trial, which is intended to support a first-line lung cancer application in the U.S. that's nearly identical to the one it shelved in the EU. Merck hasn't shared the details, but Keynote-189 reached its main goals and the data will probably be used to bolster a resubmission for first-line lung cancer in the EU later this year. While there's a good chance that Keytruda sales will continue growing, older products are at a standstill or sinking. Merck's Januvia franchise sales fell 3% last year to $5.9 billion and sales of cholesterol-reducing blockbuster Zetia fell 43% to $2.1 billion. With such stiff headwinds to overcome, the company expects total sales to rise by just 2% to 3% this year. Story continues Over the past five years, Merck raised its payout at a sluggish 2.3% annual rate. Despite being cautious, four quarterly payments at $0.48 per share work out to around 63% of the company's earnings expectations for 2018. Most big pharma's are comfortable with payout ratios in the 60% to 70% range, which suggests Merck's dividend isn't going to grow any faster than its bottom line. The average analyst following the stock expects earnings to rise at a 5.3% annual rate over the next five years. That's not terrible, but you can probably do better with Pfizer or AbbVie. Gold coins growing in four jars, with seedlings growing out of two jars. Image source: Getty Images. 2. Pfizer Inc.: Room to grow Analysts following Pfizer expect its bottom line to grow a bit faster than Merck's. Combined with a much lower payout ratio, though, shares of America's largest pharmaceutical company are positioned to deliver more dividend growth than Merck's. Over the past five years, Pfizer raised its payout at a 7.8% annual rate, increasing it to 3.7% at recent prices. Even with a healthy rate of dividend increases in recent years, Pfizer's planned dividend payments for 2018 work out to just 46% of earnings expectations for the year. That low payout ratio gives the company a chance to boost payments at a rate faster than earnings growth, in the years ahead. Sagging sales of aging blockbusters are a problem for Pfizer as well, but it has a few more pieces moving in the right direction than Merck. Last year, sales of next-gen blood thinner Eliquis rose 47% to $2.5 billion and breast cancer therapy Ibrance surged 46% to $3.1 billion. Although total revenue fell a percentage point in 2017, cost-cutting and share buybacks helped lift adjusted earnings 11% to $2.65 per share. In 2017, Pfizer received a record 10 approvals from the FDA that will mostly expand addressable patient populations of already-marketed drugs, along with their sales potential. At last glance, Pfizer had around a half-dozen new drug candidates, plus biosimilar versions of six of today's blockbuster drugs, in late-stage development. 3. AbbVie Inc.: What patent cliff? The most important patents protecting Humira's exclusivity expired last year, but Amgen (NASDAQ: AMGN) signed a deal last September that prevents it from launching its biosimilar version of the drug until 2023. The anti-inflammatory, which makes up about two-thirds of AbbVie's total revenue, racked up a stunning $18.4 billion last year and is expected to hit $20 billion by 2022. At recent prices, AbbVie shares offer a 3.2% yield. Although that's a bit less than those of Pfizer and Merck, AbbVie grew adjusted earnings 16.2% to $5.60 last year and expects its bottom line to grow another 32% in 2018. The company's outstanding performance prompted the board to authorize a new $10 billion stock repurchase program and bump the dividend 35% higher this year. Although Humira will eventually become more of an albatross than a hot-air balloon, AbbVie has several candidates in late-stage development that could help offset the losses. Risankizumab is an experimental psoriasis treatment that showed a huge benefit over Johnson & Johnson 's Stelara, a drug that generated $4.0 billion in global sales last year. Upadacitinib is another anti-inflammatory candidate with megablockbuster potential on its way to a Food and Drug Administration review soon. AbbVie intends to submit a rheumatoid arthritis application to regulators in the second half of the year, and pivotal trials with Crohn's disease and eczema patients are underway. AbbVie thinks a successful launch in multiple indications could drive upadacitinib sales to $6.5 billion by 2025. Overly optimistic peak sales estimates abound in this industry, but AbbVie has a habit of delivering results. There are no guarantees that any of the company's late-stage candidates will succeed, but this pharma stock has what it takes to deliver heaps of dividend income for years to come. More From The Motley Fool 3 Growth Stocks at Deep-Value Prices 5 Expected Social Security Changes in 2018 6 Years Later, 6 Charts That Show How Far Apple, Inc. Has Come Since Steve Jobs' Passing 10 Best Stocks to Buy Today The $16,122 Social Security Bonus You Cannot Afford to Miss Bitcoin's Biggest Competitor Isn't Ethereum -- It's This Cory Renauer has no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy . \|\| Bill Gates Says Cryptocurrencies Have Caused Deaths: Though the philanthropy under Bill Gates name has partnered with cryptocurrency firm Ripple in a bid to help the unbanked , the worlds second richest man said Tuesday that the main feature of Bitcoin and its ilk is not a good thing. In previous media interviews, Gates has been quoted saying that Bitcoin is better than currency, and that it is exciting because it shows how cheap (transactions) can be. That was back in 2014 . When quizzed regarding his views on cryptocurrencies in his sixth Reddit Ask Me Anything session Tuesday though, the billionaire focused instead on the downsides of Bitcoin and its peers. Namely, that the cryptocurrencies dont reveal the name of their holders in the way a credit card statement might--making it easier for illegal transactions to fly under the radar. The main feature of cryptocurrencies is their anonymity. I dont think this is a good thing, he said in the Reddit post. The governments ability to find money laundering and tax evasion and terrorist funding is a good thing. Right now cryptocurrencies are used for buying fentanyl and other drugs so it is a rare technology that has caused deaths in a fairly direct way. Notably, some cryptocurrencies such as Bitcoin are pseudonymous, while others such as Monero are billed as having additional privacy features . Signs have emerged in recent months that less famous digital coins such as Monero have become the cryptocurrency of choice for criminals. In a parallel to his 2014 interview, Gates also commented on how cryptocurrencies did not require face-to-face interaction. Back in 2014, when the price of Bitcoin totaled about $350 and average fees per transaction tallied 6 cents, and indeed after the infamous online drug market place SilkRoad was shuttered by U.S. officials , Gates noted that Bitcoin is better than currency as you dont physically have to be in the same place, and of course for large transactions, currency can get pretty convenient. Story continues Four years later today, though, Gates noted that when it comes to criminal enforcement, cash actually has an upside. Yes--anonymous cash is used for these kinds of things, he wrote in the Reddit AMA, following a comment about cashs anonymity. But you have to be physically present to transfer it which makes things like kidnapping payments more difficult. Notably, though, while Gates pointed to the negatives of cryptocurrencies as a store of value, he did not decry the technology underlying it. And Gates has in the past made positive comments on the technological advancements that Bitcoin represents, rather than Bitcoin itself. During a BackChannel interview in 2015, he noted that people need to draw on the revolution of Bitcoin, but Bitcoin alone is not good enough. The Bill and Melinda Gates Foundation also released a software in October, in tandem with Ripple, in a bid to make it cheaper for developing countries to build financial services infrastructure. The price of cryptocurrency poster child, Bitcoin, remained steady, despite on user speculating its value might drop following comments from the worlds second wealthiest man . The price of Bitcoin rose about 3.5% Tuesday to $10,600 . See original article on Fortune.com More from Fortune.com Someone Stole 7 Bitcoins from Apple Co-Founder Steve Wozniak Crypto Legend Who Bought Pizza With 10,000 Bitcoin Is Back At It Self-Proclaimed Inventor of Bitcoin Accused of Swindling $5 Billion in Cryptocurrency New SEC Cyber Guidelines, Tesla's Crypto Cloud, WhatsApp's Money Chinese Bitcoin Mining Firm Bitmain Made $3 to $4 Billion in Profits Last Year, Says Analyst \|\| Bill Gates Says Cryptocurrencies Have Caused Deaths: Though the philanthropy under Bill Gates’ name has partnered with cryptocurrency firm Ripplein a bid to help the unbanked, the world’s second richest man said Tuesday that the main feature of Bitcoin and its ilk is not a “good thing.” In previous media interviews, Gates has been quoted saying that Bitcoin is “better than currency,” and that it “is exciting because it shows how cheap (transactions) can be.” That wasback in 2014. When quizzed regarding his views on cryptocurrencies in his sixth Reddit “Ask Me Anything” session Tuesday though, the billionaire focused instead on the downsides of Bitcoin and its peers. Namely, that the cryptocurrencies don’t reveal the name of their holders in the way a credit card statement might--making it easier for illegal transactions to fly under the radar. “The main feature of cryptocurrencies is their anonymity. I don’t think this is a good thing,” he said in theRedditpost. “The government’s ability to find money laundering and tax evasion and terrorist funding is a good thing. Right now cryptocurrencies are used for buying fentanyl and other drugs so it is a rare technology that has caused deaths in a fairly direct way.” Notably, some cryptocurrencies such as Bitcoin are pseudonymous, while others such as Monero are billed as havingadditional privacy features. Signs have emerged in recent months that less famous digital coins such as Monero have become the cryptocurrency of choice for criminals. In a parallel to his 2014 interview, Gates also commented on how cryptocurrencies did not require face-to-face interaction. Back in 2014, when the price of Bitcoin totaled about $350 and average fees per transaction tallied 6 cents, and indeed after the infamous online drug market place SilkRoad wasshuttered by U.S. officials, Gates noted that Bitcoin is better than currency as “you don’t physically have to be in the same place, and of course for large transactions, currency can get pretty convenient.” Four years later today, though, Gates noted that when it comes to criminal enforcement, cash actually has an upside. “Yes--anonymous cash is used for these kinds of things,” he wrote in the Reddit AMA, following a comment about cash’s anonymity. “But you have to be physically present to transfer it which makes things likekidnapping paymentsmore difficult.” Notably, though, while Gates pointed to the negatives of cryptocurrencies as a store of value, he did not decry the technology underlying it. And Gates has in the past made positive comments on the technological advancements that Bitcoin represents, rather than Bitcoin itself. During a BackChannel interview in 2015, he noted that people need to “draw on the revolution of Bitcoin, but Bitcoin alone is not good enough.” The Bill and Melinda Gates Foundation also released a software in October, in tandem with Ripple, in a bid to make it cheaper for developing countries to build financial services infrastructure. The price of cryptocurrency poster child, Bitcoin, remained steady, despite on user speculating its value might drop following comments from theworld’s second wealthiest man. The price of Bitcoin rose about 3.5% Tuesdayto $10,600. See original article on Fortune.com More from Fortune.com • Someone Stole 7 Bitcoins from Apple Co-Founder Steve Wozniak • Crypto Legend Who Bought Pizza With 10,000 Bitcoin Is Back At It • Self-Proclaimed Inventor of Bitcoin Accused of Swindling $5 Billion in Cryptocurrency • New SEC Cyber Guidelines, Tesla's Crypto Cloud, WhatsApp's Money • Chinese Bitcoin Mining Firm Bitmain Made $3 to $4 Billion in Profits Last Year, Says Analyst \|\| What Happened in the Stock Market Today: After attempting to extend its recent rally with an early surge, the stock market gave back some ofyesterday's gainsamid concerns that the U.S. Federal Reserve could raise interest rates more quickly than expected given the current strength of the economy. TheDow Jones Industrial Average(DJINDICES: ^DJI)andS&P; 500(SNPINDEX: ^GSPC)declined just over 1%. [{"Index": "Dow", "Percentage Change": "(1.16%)", "Point Change": "(299.24)"}, {"Index": "S&P 500", "Percentage Change": "(1.27%)", "Point Change": "(35.32)"}] Data source: Yahoo! Finance. Retail stocks were among today's biggest losers, with theSPDR S&P Retail ETF(NYSEMKT: XRT)down 2%. Meanwhile, financials stocks helped stem declines elsewhere, with theFinancial Select Sector SPDR Fund(NYSEMKT: XLF)falling just under 1% -- but only after spending the bulk of today's trading session in positive territory. As for individual stocks, wildly contrasting earnings news sent shares ofDillard's(NYSE: DDS)andFitbit(NYSE: FIT)in drastically different directions today. Image source: Getty Images. Shares of Dillard's skyrocketed 16.9% today after the department store chain delivered impressive quarterly results. Net sales climbed 6.5% year over year to $2.061 billion, including 3% comparable-store sales growth. Gross margin also improved 48 basis points year over year to 30.5%, and adjusted earnings per share soared 64% to $2.82. Both the top and bottom lines trounced Wall Street's consensus expectations, which called for earnings of only $1.77 per share on revenue of $2.03 billion. Keeping in mind Dillard's stock alsopopped more than 18% in Novemberfollowing an equally strong quarter and favorable holiday sales results, CEO William Dillard II stated: The positive sales trends we noted at the end of the third quarter continued through the fourth. Our 3% comparable store sales increase combined with gross margin improvement and relative expense control led to a notable increase in pre-tax income for the quarter. We are working to keep this momentum into 2018. That said, Dillard's declined to offer specific financial guidance for the coming year. But given its sustained momentum and relative outperformance so far, it's no surprise to see shares traded at a fresh 52-week high today. Meanwhile, shares of Fitbit dropped 12.3% today after the wearable technology specialist announced underwhelming fourth-quarter 2017 results and weak forward guidance. Revenue fell 0.5% to $570.8 million, as a nearly 17% decline in the number of devices sold (to 5.4 million) was offset by the higher price of Fitbit's new Ionic smartwatches. On the bottom line, that translated to an adjusted net loss of $4.7 million, or $0.02 per share. But Fitbit management wasn't pleased. "Ionic sales outpaced the trajectory of our prior highest-priced device, our legacy GPS watch Fitbit Search," stated Fitbit CEO James Park during the subsequent call. "However, we had more aggressive goals for Ionic." In particular, Fitbit believes Ionic sales were hurt by a combination of aggressive promotions during the holidays, delays in the availability of its software development kit (SDK), and a limited number of apps available at launch. Worse yet, with the crucial holiday season now finished, Fitbit expects revenue in the first quarter will decline in the range of 20% to 15% year over year, which should result in an adjusted loss per share of $0.21 to $0.18. By comparison, Wall Street was modeling a loss of $0.09 per share on a more modest 13.8% decline in sales. Finally, for full-year 2018, Fitbit expects revenue of $1.5 billion, down from $1.62 billion in 2017 and far below expectations for 8%growth. In the end,Fitbit's Ionic couldn't deliver when it mattered the most. And given an absence of sales growth and sustained profitability, it's hard to blame investors for taking a big step back today. More From The Motley Fool • 3 Growth Stocks at Deep-Value Prices • 5 Expected Social Security Changes in 2018 • 6 Years Later, 6 Charts That Show How Far Apple, Inc. Has Come Since Steve Jobs' Passing • 10 Best Stocks to Buy Today • The $16,122 Social Security Bonus You Cannot Afford to Miss • Bitcoin's Biggest Competitor Isn't Ethereum -- It's This Steve Symingtonhas no position in any of the stocks mentioned. The Motley Fool owns shares of and recommends Fitbit. The Motley Fool has adisclosure policy. \|\| What Happened in the Stock Market Today: After attempting to extend its recent rally with an early surge, the stock market gave back some of yesterday's gains amid concerns that the U.S. Federal Reserve could raise interest rates more quickly than expected given the current strength of the economy. The Dow Jones Industrial Average (DJINDICES: ^DJI) and S&P; 500 (SNPINDEX: ^GSPC) declined just over 1%. Today's stock market Index Percentage Change Point Change Dow (1.16%) (299.24) S&P 500 (1.27%) (35.32) Data source: Yahoo! Finance. Retail stocks were among today's biggest losers, with the SPDR S&P Retail ETF (NYSEMKT: XRT) down 2%. Meanwhile, financials stocks helped stem declines elsewhere, with the Financial Select Sector SPDR Fund (NYSEMKT: XLF) falling just under 1% -- but only after spending the bulk of today's trading session in positive territory. As for individual stocks, wildly contrasting earnings news sent shares of Dillard's (NYSE: DDS) and Fitbit (NYSE: FIT) in drastically different directions today. Close-up of the Wall St. street sign, with American flags in the background Image source: Getty Images. Dillard's sustains its momentum Shares of Dillard's skyrocketed 16.9% today after the department store chain delivered impressive quarterly results. Net sales climbed 6.5% year over year to $2.061 billion, including 3% comparable-store sales growth. Gross margin also improved 48 basis points year over year to 30.5%, and adjusted earnings per share soared 64% to $2.82. Both the top and bottom lines trounced Wall Street's consensus expectations, which called for earnings of only $1.77 per share on revenue of $2.03 billion. Keeping in mind Dillard's stock also popped more than 18% in November following an equally strong quarter and favorable holiday sales results, CEO William Dillard II stated: The positive sales trends we noted at the end of the third quarter continued through the fourth. Our 3% comparable store sales increase combined with gross margin improvement and relative expense control led to a notable increase in pre-tax income for the quarter. We are working to keep this momentum into 2018. Story continues That said, Dillard's declined to offer specific financial guidance for the coming year. But given its sustained momentum and relative outperformance so far, it's no surprise to see shares traded at a fresh 52-week high today. Fitbit's holiday-quarter sales fall yet again Meanwhile, shares of Fitbit dropped 12.3% today after the wearable technology specialist announced underwhelming fourth-quarter 2017 results and weak forward guidance. Revenue fell 0.5% to $570.8 million, as a nearly 17% decline in the number of devices sold (to 5.4 million) was offset by the higher price of Fitbit's new Ionic smartwatches. On the bottom line, that translated to an adjusted net loss of $4.7 million, or $0.02 per share. But Fitbit management wasn't pleased. "Ionic sales outpaced the trajectory of our prior highest-priced device, our legacy GPS watch Fitbit Search," stated Fitbit CEO James Park during the subsequent call. "However, we had more aggressive goals for Ionic." In particular, Fitbit believes Ionic sales were hurt by a combination of aggressive promotions during the holidays, delays in the availability of its software development kit (SDK), and a limited number of apps available at launch. Worse yet, with the crucial holiday season now finished, Fitbit expects revenue in the first quarter will decline in the range of 20% to 15% year over year, which should result in an adjusted loss per share of $0.21 to $0.18. By comparison, Wall Street was modeling a loss of $0.09 per share on a more modest 13.8% decline in sales. Finally, for full-year 2018, Fitbit expects revenue of $1.5 billion, down from $1.62 billion in 2017 and far below expectations for 8% growth . In the end, Fitbit's Ionic couldn't deliver when it mattered the most . And given an absence of sales growth and sustained profitability, it's hard to blame investors for taking a big step back today. More From The Motley Fool 3 Growth Stocks at Deep-Value Prices 5 Expected Social Security Changes in 2018 6 Years Later, 6 Charts That Show How Far Apple, Inc. Has Come Since Steve Jobs' Passing 10 Best Stocks to Buy Today The $16,122 Social Security Bonus You Cannot Afford to Miss Bitcoin's Biggest Competitor Isn't Ethereum -- It's This Steve Symington has no position in any of the stocks mentioned. The Motley Fool owns shares of and recommends Fitbit. The Motley Fool has a disclosure policy . \|\| Square's bets beyond a register brought in $253M last year as it posts a largely positive fourth quarter: Square posted a largely successful fourth quarter that showed continuing growth with its Cash App with users spending around $90 million on its Cash card in December, putting it on a potentially $1 billion run rate. That would offer another significant avenue for Square to snap up additional customers as it looks to chip away at the alternatives available for directly sending cash between users. While popularized by Venmo, many companies have gone after this space including Apple, where you can send money over iMessage and its massive popularity through services abroad are showing the appeal for a company like Square. The rest of the report was largely above analyst expectations, though it got a slight dig for missing a near-term forecast for its earnings. Square is looking less and less like just the point-of-sale system that it was when it went public, though that still accounts for a significant portion of its business. But as it diversifies into new services revenue, especially with new products like Square Capital and the Cash App, it's finding new ways to sell a growth (and stability) story to Wall Street that's so far delivered for its shares over the past year. Those subscription- and services-based components generated $253 million in 2017, according to the company. For the most part, the stock went nowhere after today's earnings report, which more or less equates to a continuing run that's sent its shares skyrocketing in the past year. Square's shares have risen more than 150 percent over the past 12 months, sending it to a valuation north of $17.8 billion a valuation wildly higher than its initial public offering when there were many questions about whether it could be a successful business. Here's the final slash line: Q4 adjusted earnings: 8 cents per share, compared to analyst expectations of 7 cents per share. Q4 adjusted revenue: $283 million, compared to Wall Street estimates of $266.3 million (up 47 percent year-over-year). Q1 revenue forecast: $292.5 million midpoint, compared to analyst estimates of $271.9 million. Q1 adjusted earnings forecast: 4 cents per share (midpoint), compared to analyst estimates of 8 cents per share. FY2017 subscription and services- based revenue (including Caviar, Cash and Square Capital: $253 million (up 95 percent year-over-year). Q4 gross payment volume: $17.9 billion (up 31 percent year-over-year). Cash App users: 7 million monthly active customers. Story continues For one of the first times, as Square recently opened up bitcoin buying and selling in its Cash App , cryptocurrency operations are now falling under the "risk factors" for the company a set of boilerplate statements made about the general risks it faces that it thinks it needs to disclose to investors. A significant part of that risk seems to stem from the evolving state of regulation around cryptocurrency. There's a pretty meaty section in the risk factors in its main filing, which we've included below: We recently introduced a feature to the Cash App that permits our customers to buy and sell bitcoin. Bitcoin is not considered legal tender or backed by any government, and it has experienced price volatility, technological glitches and various law enforcement and regulatory interventions. We do not believe that the bitcoin platform involves offering participants securities that are subject to the registration or other provisions of the federal or state securities laws. We also do not believe the feature subjects us to regulation under the federal securities laws, including as a broker-dealer or an investment adviser, or registration under the federal commodities laws. However, the regulation of cryptocurrency and crypto platforms is still an evolving area and it is possible that a court or a federal or state regulator could disagree with one or more of these conclusions. If we fail to comply with regulations or prohibitions applicable to us, we could face regulatory or other enforcement actions and potential fines and other consequences. Further, we might not be able to continue operating the feature, at least in current form, and to the extent that the feature is viewed by the market as a valuable asset to Square, the price of our Class A common stock could decrease. Additionally, there is no specific accounting guidance in U.S. GAAP covering accounting for cryptocurrencies, which means the accounting can be complex and subject to challenge or scrutiny. The final conclusions on the accounting treatment for our cryptocurrency transactions could affect the presentation of our results of operations. Square's revenue continued to grow at a pretty decent clip year-over-year, and we're starting to see some trends of it beginning to look more and more healthy even as it looks to diversify its business beyond just its point-of-sale through services like the Cash App, its meal delivery service Caviar and Square Capital. Subscription revenue which includes those services accounted for $253 million in revenue, and Square Capital in the fourth quarter had 47,000 business loans totaling $305 million. This article originally appeared on TechCrunch . \|\| Square's bets beyond a register brought in $253M last year as it posts a largely positive fourth quarter: Square posted a largely successful fourth quarter that showed continuing growth with its Cash App — with users spending around $90 million on its Cash card in December, putting it on a potentially $1 billion run rate. That would offer another significant avenue for Square to snap up additional customers as it looks to chip away at the alternatives available for directly sending cash between users. While popularized by Venmo, many companies have gone after this space — including Apple, where you can send money over iMessage — and its massive popularity through services abroad are showing the appeal for a company like Square. The rest of the report was largely above analyst expectations, though it got a slight dig for missing a near-term forecast for its earnings. Square is looking less and less like just the point-of-sale system that it was when it went public, though that still accounts for a significant portion of its business. But as it diversifies into new services revenue, especially with new products like Square Capital and the Cash App, it's finding new ways to sell a growth (and stability) story to Wall Street that's so far delivered for its shares over the past year. Those subscription- and services-based components generated $253 million in 2017, according to the company. For the most part, the stock went nowhere after today's earnings report, which more or less equates to a continuing run that's sent its shares skyrocketing in the past year. Square's shares have risen more than 150 percent over the past 12 months, sending it to a valuation north of $17.8 billion — a valuation wildly higher than its initial public offering when there were many questions about whether it could be a successful business. Here's the final slash line: • Q4 adjusted earnings:8 cents per share, compared to analyst expectations of 7 cents per share. • Q4 adjusted revenue:$283 million, compared to Wall Street estimates of $266.3 million (up 47 percent year-over-year). • Q1 revenue forecast:$292.5 million midpoint, compared to analyst estimates of $271.9 million. • Q1 adjusted earnings forecast:4 cents per share (midpoint), compared to analyst estimates of 8 cents per share. • FY2017 subscription and services- based revenue (including Caviar, Cash and Square Capital:$253 million (up 95 percent year-over-year). • Q4 gross payment volume:$17.9 billion (up 31 percent year-over-year). • Cash App users:7 million monthly active customers. For one of the first times, as Squarerecently opened up bitcoin buying and selling in its Cash App, cryptocurrency operations are now falling under the "risk factors" for the company — a set of boilerplate statements made about the general risks it faces that it thinks it needs to disclose to investors. A significant part of that risk seems to stem from the evolving state of regulation around cryptocurrency. There's a pretty meaty section in the risk factors in its main filing, which we've included below: We recently introduced a feature to the Cash App that permits our customers to buy and sell bitcoin. Bitcoin is not considered legal tender or backed by any government, and it has experienced price volatility, technological glitches and various law enforcement and regulatory interventions. We do not believe that the bitcoin platform involves offering participants securities that are subject to the registration or other provisions of the federal or state securities laws. We also do not believe the feature subjects us to regulation under the federal securities laws, including as a broker-dealer or an investment adviser, or registration under the federal commodities laws. However, the regulation of cryptocurrency and crypto platforms is still an evolving area and it is possible that a court or a federal or state regulator could disagree with one or more of these conclusions. If we fail to comply with regulations or prohibitions applicable to us, we could face regulatory or other enforcement actions and potential fines and other consequences. Further, we might not be able to continue operating the feature, at least in current form, and to the extent that the feature is viewed by the market as a valuable asset to Square, the price of our Class A common stock could decrease. Additionally, there is no specific accounting guidance in U.S. GAAP covering accounting for cryptocurrencies, which means the accounting can be complex and subject to challenge or scrutiny. The final conclusions on the accounting treatment for our cryptocurrency transactions could affect the presentation of our results of operations. Square's revenue continued to grow at a pretty decent clip year-over-year, and we're starting to see some trends of it beginning to look more and more healthy even as it looks to diversify its business beyond just its point-of-sale through services like the Cash App, its meal delivery service Caviar and Square Capital. Subscription revenue — which includes those services — accounted for $253 million in revenue, and Square Capital in the fourth quarter had 47,000 business loans totaling $305 million. • This article originally appeared onTechCrunch. \|\| Will Apple Offer 5G iPhones in 2019?: Apple (NASDAQ: AAPL) is expected to launch three new iPhones later this year: a successor to the current iPhone 8 and iPhone 8 Plus (a device that I believe will simply be called "iPhone"); a successor to the current iPhone X; and a larger-screen version of the successor to the iPhone X, which I'll refer to as the iPhone X Plus. All three new iPhone models are expected to support gigabit LTE speeds, enabled by Intel 's (NASDAQ: INTC) new XMM 7560 modem . Apple's latest iPhone models support peak download speeds of 600 megabits per second, so the jump -- at least on paper -- should be quite significant. Next year, many smartphone vendors are expected to introduce smartphones with support for the wireless standard that succeeds 4G LTE, known as 5G . Indeed, wireless chip specialist Qualcomm (NASDAQ: QCOM) recently announced a list of partners that intend to sell smartphones powered by its upcoming Snapdragon X50 5G modem. There is some speculation that Apple may be late to offer iPhones with 5G connections, something that wouldn't be without historical precedent. Apple was also late in offering 4G LTE-capable smartphones, though it's worth noting that its ability to invest in new technologies has grown by leaps and bounds over the last seven years. However, I think that there's a good chance that Apple will offer 5G-capable iPhone models in the second half of 2019, especially as it faces the risk of falling behind the competition if it doesn't. Here's how I expect Apple to do it. Apple's iPhone X lineup Image source: Apple. 5G for the iPhone X line, LTE for the standard iPhone I think that for the 2019 iPhone lineup, Apple will continue to segment its devices based on price. At the high end, I expect direct successors to what I think will be this year's iPhone X and iPhone X Plus. For the mainstream, it seems reasonable to bet on Apple introducing a cost-optimized successor to what I'm calling simply the iPhone. I believe the standard iPhone won't come with a 5G modem and will instead -- to save on costs and drive effective product segmentation -- use an upgraded LTE modem from Intel, the XMM 7660 . Intel's XMM 7560 LTE modem next to a penny and a pencil eraser. The model is smaller thant the penny; bigger than the eraser. Image source: Intel. The successors to the iPhone X, however, could come with 5G modems. Apple could use a solution from Qualcomm, or Intel's upcoming XMM 8060 5G modem (which Intel says will "ship in commercial consumer devices in mid-2019"). Perhaps Apple could even sell some with Intel modems and others with Qualcomm modems, as it does with the iPhone 7-series, iPhone 8-series, and iPhone X smartphones. Story continues From a risk-management perspective, it might be smart for Apple to use multiple modem suppliers in the early innings of the 5G transition, in case one fails to deliver. Not only would limiting 5G capability to the more expensive models make sense from a financial perspective -- cheaper devices get less sophisticated cellular subsystems while more expensive devices get more advanced ones -- but it would also be helpful from a product segmentation perspective. Apple will want to find ways to drive iPhone average selling prices as high as possible, to drive revenue growth in a stagnant smartphone market. By limiting 5G capabilities to its most expensive devices, the company would be giving customers a reason to buy higher-end smartphones. More From The Motley Fool 3 Growth Stocks at Deep-Value Prices 5 Expected Social Security Changes in 2018 6 Years Later, 6 Charts That Show How Far Apple, Inc. Has Come Since Steve Jobs' Passing 10 Best Stocks to Buy Today The $16,122 Social Security Bonus You Cannot Afford to Miss Bitcoin's Biggest Competitor Isn't Ethereum -- It's This Ashraf Eassa owns shares of Intel and Qualcomm. The Motley Fool owns shares of and recommends Apple. The Motley Fool owns shares of Qualcomm and has the following options: long January 2020 $150 calls on Apple and short January 2020 $155 calls on Apple. The Motley Fool recommends Intel. The Motley Fool has a disclosure policy . View comments \|\| Will Apple Offer 5G iPhones in 2019?: Apple(NASDAQ: AAPL)is expected to launch three new iPhones later this year: asuccessor to the current iPhone 8 and iPhone 8 Plus(a device that I believe will simply be called "iPhone"); a successor to the current iPhone X; and a larger-screen version of the successor to the iPhone X, which I'll refer to as the iPhone X Plus. All three new iPhone models are expected to support gigabit LTE speeds,enabled byIntel's(NASDAQ: INTC)newXMM 7560 modem. Apple's latest iPhone models support peak download speeds of 600 megabits per second, so the jump -- at least on paper -- should be quite significant. Next year, many smartphone vendors are expected to introduce smartphones with support for the wireless standard that succeeds 4G LTE, known as5G. Indeed, wireless chip specialistQualcomm(NASDAQ: QCOM)recently announced a list of partners that intend to sell smartphones powered by its upcoming Snapdragon X50 5G modem. There issome speculationthat Apple may be late to offer iPhones with 5G connections, something that wouldn't be without historical precedent. Apple was also late in offering 4G LTE-capable smartphones, though it's worth noting that its ability to invest in new technologies has grown by leaps and bounds over the last seven years. However, I think that there's a good chance that Apple will offer 5G-capable iPhone models in the second half of 2019, especially as it faces the risk of falling behind the competition if it doesn't. Here's how I expect Apple to do it. Image source: Apple. I think that for the 2019 iPhone lineup, Apple will continue to segment its devices based on price. At the high end, I expect direct successors to what I think will be this year's iPhone X and iPhone X Plus. For the mainstream, it seems reasonable to bet on Apple introducing a cost-optimized successor to what I'm calling simply the iPhone. I believe the standard iPhone won't come with a 5G modem and will instead -- to save on costs and drive effective product segmentation -- use an upgraded LTE modem from Intel, theXMM 7660. Image source: Intel. The successors to the iPhone X, however, could come with 5G modems. Apple could use a solution from Qualcomm, or Intel's upcoming XMM 8060 5G modem (which Intel says will "ship in commercial consumer devices in mid-2019"). Perhaps Apple could even sell some with Intel modems and others with Qualcomm modems, as it does with the iPhone 7-series, iPhone 8-series, and iPhone X smartphones. From a risk-management perspective, it might be smart for Apple to use multiple modem suppliers in the early innings of the 5G transition, in case one fails to deliver. Not only would limiting 5G capability to the more expensive models make sense from a financial perspective -- cheaper devices get less sophisticated cellular subsystems while more expensive devices get more advanced ones -- but it would also be helpful from a product segmentation perspective. Apple will want to find ways to drive iPhone average selling prices as high as possible, to drive revenue growth in a stagnant smartphone market. By limiting 5G capabilities to its most expensive devices, the company would be giving customers a reason to buy higher-end smartphones. More From The Motley Fool • 3 Growth Stocks at Deep-Value Prices • 5 Expected Social Security Changes in 2018 • 6 Years Later, 6 Charts That Show How Far Apple, Inc. Has Come Since Steve Jobs' Passing • 10 Best Stocks to Buy Today • The $16,122 Social Security Bonus You Cannot Afford to Miss • Bitcoin's Biggest Competitor Isn't Ethereum -- It's This Ashraf Eassaowns shares of Intel and Qualcomm. The Motley Fool owns shares of and recommends Apple. The Motley Fool owns shares of Qualcomm and has the following options: long January 2020 $150 calls on Apple and short January 2020 $155 calls on Apple. The Motley Fool recommends Intel. The Motley Fool has adisclosure policy. \|\| AppFolio Ends 2017 on a High Note: AppFolio(NASDAQ: APPF), a software-as-a-service business focused on the needs of property managers and law firms, reported its fourth-quarter and full-year results on Monday, Feb. 26. Revenue growthacceleratedslightly to 35% during the period, and the company cranked out a profit for the fourth time in a row. Image source: Getty Images. [{"Metric": "Sales", "Q4 2017": "$37.9 million", "Q4 2016": "$28.0 million", "Year-Over-Year Change": "35%"}, {"Metric": "GAAP net income", "Q4 2017": "$2.6 million", "Q4 2016": "($1.3 million)", "Year-Over-Year Change": "N/A"}, {"Metric": "GAAP EPS", "Q4 2017": "$0.07", "Q4 2016": "($0.04)", "Year-Over-Year Change": "N/A"}, {"Metric": "Adjusted EPS", "Q4 2017": "$0.12", "Q4 2016": "$0.01", "Year-Over-Year Change": "1,100%"}] GAAP= generally accepted accounting principles. EPS = earnings per share. Data source: AppFolio. • Core solutions revenue -- which primarily consists of subscription fees -- grew 27% to $15.5 million. • Value+ services revenue -- which is earned when customers pay for add-on services such as application screening, payments processing, or website hosting -- jumped 42% to $20.8 million. • Property manager customer count grew 17% year over year to 11,700. Total units on the platform grew 21% to 3.25 million. • Legal customers grew 15% to 9,350. • The company generated $7.8 million in cash from operating activities during the fourth quarter. Zooming out to the full year, here's a look at the company's key numbers from 2017: • Revenue grew 36% to $143.8 million. • GAAP net income was $9.7 million, which is a sharp reversal from the $8.3 million loss that was recorded in 2016. • Non-GAAP net income -- which excludes stock-based compensation -- was $15.9 million, or $0.45 per share. AppFolio CEO Jason Randall provide investors with the following commentary related to the company's performance: Our financial results in 2017 reflect our continued dual focus on gaining operating leverage in our existing business and reinvesting back into the business for future growth. We attribute our progress in that regard not only to our emphasis on delighting our customers but also to our consistent pace of product and technology innovation and our unwavering dedication to our talented and engaged team. AppFolio remains committed to the mission of revolutionizing vertical industry businesses by providing great cloud-based business management software and services. Randall also stated that the company remains heads-down focused on introducing new Value+ services to its current customers and expanding into new markets. CFO Ida Kane stated that the company is transitioning to a new accounting standard in 2018 called ASC 606. Kane said that this transition will not have a material impact on revenue, but will change the timing of when costs related to new sales contracts are recognized. Instead of being expensed immediately, these sales costs will be deferred and expensed over a three-year period. Turning to guidance, management expects revenue in 2018 to land between $179 million and $182 million. The midpoint of this range represents growth of 26%. Randall ended his prepared remarks on the investor call by outlining his priorities for the year ahead: As we look ahead, our company culture remains a key area of focus. We know that engaged and happy employees deliver outstanding customer experiences. Our team is at the very core of our success and we believe our culture, along with our values, will continue to provide us with a competitive advantage. Going forward, we remain focused on long-term sustainable growth while continuing to serve our happy and growing base of customers. More From The Motley Fool • 3 Growth Stocks at Deep-Value Prices • 5 Expected Social Security Changes in 2018 • 6 Years Later, 6 Charts That Show How Far Apple, Inc. Has Come Since Steve Jobs' Passing • 10 Best Stocks to Buy Today • The $16,122 Social Security Bonus You Cannot Afford to Miss • Bitcoin's Biggest Competitor Isn't Ethereum -- It's This Brian Feroldiowns shares of AppFolio. The Motley Fool recommends AppFolio. The Motley Fool has adisclosure policy. \|\| AppFolio Ends 2017 on a High Note: AppFolio (NASDAQ: APPF) , a software-as-a-service business focused on the needs of property managers and law firms, reported its fourth-quarter and full-year results on Monday, Feb. 26. Revenue growth accelerated slightly to 35% during the period, and the company cranked out a profit for the fourth time in a row. A man in a suit touching tablet screen with a chart coming off of it Image source: Getty Images. AppFolio Q4 results: The raw numbers Metric Q4 2017 Q4 2016 Year-Over-Year Change Sales $37.9 million $28.0 million 35% GAAP net income $2.6 million ($1.3 million) N/A GAAP EPS $0.07 ($0.04) N/A Adjusted EPS $0.12 $0.01 1,100% GAAP = generally accepted accounting principles. EPS = earnings per share. Data source: AppFolio. What happened with Appfolio this quarter? Core solutions revenue -- which primarily consists of subscription fees -- grew 27% to $15.5 million. Value+ services revenue -- which is earned when customers pay for add-on services such as application screening, payments processing, or website hosting -- jumped 42% to $20.8 million. Property manager customer count grew 17% year over year to 11,700. Total units on the platform grew 21% to 3.25 million. Legal customers grew 15% to 9,350. The company generated $7.8 million in cash from operating activities during the fourth quarter. Zooming out to the full year, here's a look at the company's key numbers from 2017: Revenue grew 36% to $143.8 million. GAAP net income was $9.7 million, which is a sharp reversal from the $8.3 million loss that was recorded in 2016. Non-GAAP net income -- which excludes stock-based compensation -- was $15.9 million, or $0.45 per share. What management had to say AppFolio CEO Jason Randall provide investors with the following commentary related to the company's performance: Our financial results in 2017 reflect our continued dual focus on gaining operating leverage in our existing business and reinvesting back into the business for future growth. We attribute our progress in that regard not only to our emphasis on delighting our customers but also to our consistent pace of product and technology innovation and our unwavering dedication to our talented and engaged team. AppFolio remains committed to the mission of revolutionizing vertical industry businesses by providing great cloud-based business management software and services. Story continues Randall also stated that the company remains heads-down focused on introducing new Value+ services to its current customers and expanding into new markets. Looking forward CFO Ida Kane stated that the company is transitioning to a new accounting standard in 2018 called ASC 606. Kane said that this transition will not have a material impact on revenue, but will change the timing of when costs related to new sales contracts are recognized. Instead of being expensed immediately, these sales costs will be deferred and expensed over a three-year period. Turning to guidance, management expects revenue in 2018 to land between $179 million and $182 million. The midpoint of this range represents growth of 26%. Randall ended his prepared remarks on the investor call by outlining his priorities for the year ahead: As we look ahead, our company culture remains a key area of focus. We know that engaged and happy employees deliver outstanding customer experiences. Our team is at the very core of our success and we believe our culture, along with our values, will continue to provide us with a competitive advantage. Going forward, we remain focused on long-term sustainable growth while continuing to serve our happy and growing base of customers. More From The Motley Fool 3 Growth Stocks at Deep-Value Prices 5 Expected Social Security Changes in 2018 6 Years Later, 6 Charts That Show How Far Apple, Inc. Has Come Since Steve Jobs' Passing 10 Best Stocks to Buy Today The $16,122 Social Security Bonus You Cannot Afford to Miss Bitcoin's Biggest Competitor Isn't Ethereum -- It's This Brian Feroldi owns shares of AppFolio. The Motley Fool recommends AppFolio. The Motley Fool has a disclosure policy . \|\| 3 Stocks the World's Best Investors Are Buying Right Now: Reviewing what the world's best investors are doing is a smart place to start when looking to stock a portfolio with winning investments. Understanding why they took stakes in specific companies can give investors the edge when deciding where to put their hard-earned funds. With that in mind, we asked three Motley Fool investors to choose companies that the world's best investors were adding to their portfolios. They offered convincing arguments forApple Inc.(NASDAQ: AAPL),Netflix, Inc.(NASDAQ: NFLX), andSuncor Energy Inc.(NYSE: SU). Image source: The Motley Fool. Tim Green(Apple):Warren Buffett is unquestionably one of the greatest investors of all time. He makes his fair share of mistakes, but that doesn't stop him from betting big when he sees an opportunity. Apple doesn't seem like a typical Buffett stock, dependent on constantly churning out new consumer gadgets. But the Oracle of Omaha no doubt believes Apple's brand provides a major competitive advantage. Buffett'sBerkshire Hathawaywent on a buying spree during the fourth quarter,scooping up 31.2 million additional shares of Apple. That brings the company's total stake up to 165.3 million shares, worth around $28 billion. Apple is now Berkshire's largest stock holding. Apple is still heavily dependent on the iPhone, although newer products like the Apple Watch and its array of services are growing quickly. The biggest risks for Apple are the commodification of smartphones and the lengthening of the upgrade cycle. The company's expensive iPhone X was an attempt to move prices higher to offset any potential decline in volume. Demand has reportedly beenweaker than expected. Image source: Apple. For Buffett, Apple's brand loyalty is likely what matters most. iPhone users tend to stick with the iPhone, often not even considering the alternatives. That's a recipe for outsized profits. How durable is that brand loyalty? Durable enough for Buffett to hurl nearly $30 billion into the stock. Danny Vena(Netflix):Daniel Loeb, the investor behind activist hedge fund Third Point, has established one of the most enviable track records among hedge fund managers. Under his guidance, the Offshore Fund has generated an annualized return of 15.8% since December 1996 -- nearly twice the return of the S&P 500. With a track record like that, it's worth examining his recent purchases. Among the most notable additions to Third Point's holdings in the fourth quarter of 2017 was the purchase of 2 million shares of streaming pioneer Netflix. The purchase quickly vaulted the company into the top ten, making it the fund's ninth-largest holding. Netflix saw significant adoption in 2017, adding nearly 24 million members and increasing its subscriber count by 25%. Its worldwide customer base now numbers over 117 million, with more joining every day. Revenue grew to $3.3 billionin the fourth quarter, up 33% year over year, while net income of $67 million nearly tripled over the prior-year quarter. Image source: Netflix. With a total addressable market estimated at 450 million, Netflix could more than triple its existing customer base in the coming decade. That isn't the only reason to be bullish on Netflix. The company has demonstrated significant pricing power, as evidenced by its continuing stellar growth -- even in the face of recent price increases. Netflix also stands to gain over time from its move to develop its own content, a strategy that spreads the cost of each project over a growing list of subscribers. As its customer count grows and its content spending levels off, much more of the company's revenue will make its way to the bottom line. With a significant track record of subscriber growth, increasing revenue, and steadily climbingcontribution margins, it's easy to see why one of the world's best investors is buying Netflix. Reuben Gregg Brewer(Suncor Energy Inc.):Although not a specific person, 1832 Asset Management is one of the largest asset management firms in Canada with over $100 billion under management. It recently added Canadian oil giant Suncor Energy to its portfolio. Suncor is probably best known as a key owner and operator of Canadian oil sands projects. Oil sands are often considered a high-cost energy option, but that's only half true. The big expenses are faced during the construction phase of an oil sands development. But once up and running, oil sands, which are mined, not drilled,are relatively cheap to operate. Suncor has tried to highlight that fact. Image source: Suncor Energy. This is interesting right now because Suncor is coming to the end of the construction phase on a couple of new oil projects. One is an offshore oil project and the other is Fort Hills, an oil sands development, which is expected to ramp up to 90% of its full capacity by the end of 2018. The offshore endeavor, known as the Hebron project, is also starting to pump oil. All in, Suncor expects oil production to jump 10% in 2018 and 2019.Add in increasing oil pricesand the low ongoing costs of the company's core oil sands projects, and Suncor looks well positioned for the future. Suncor is perhaps somewhat misunderstood by investors because of its oil sands exposure, which many see as a negative. With a dividend yield of 2.8%, slightly above its five-year average and notably higher than what you could get from an S&P 500 Index fund, investors might want to do a deep dive into Suncor. Perhaps 1832 Asset Management is seeing something others are missing. More From The Motley Fool • 3 Growth Stocks at Deep-Value Prices • 5 Expected Social Security Changes in 2018 • 6 Years Later, 6 Charts That Show How Far Apple, Inc. Has Come Since Steve Jobs' Passing • 10 Best Stocks to Buy Today • The $16,122 Social Security Bonus You Cannot Afford to Miss • Bitcoin's Biggest Competitor Isn't Ethereum -- It's This Danny Venaowns shares of Apple and Netflix. The Motley Fool owns shares of and recommends Apple and Netflix. The Motley Fool has the following options: long January 2020 $150 calls on Apple and short January 2020 $155 calls on Apple. The Motley Fool has adisclosure policy. \|\| 3 Stocks the World's Best Investors Are Buying Right Now: Reviewing what the world's best investors are doing is a smart place to start when looking to stock a portfolio with winning investments. Understanding why they took stakes in specific companies can give investors the edge when deciding where to put their hard-earned funds. With that in mind, we asked three Motley Fool investors to choose companies that the world's best investors were adding to their portfolios. They offered convincing arguments for Apple Inc. (NASDAQ: AAPL) , Netflix, Inc. (NASDAQ: NFLX) , and Suncor Energy Inc. (NYSE: SU) . Warren Buffett smiling. Image source: The Motley Fool. A powerful brand Tim Green (Apple): Warren Buffett is unquestionably one of the greatest investors of all time. He makes his fair share of mistakes, but that doesn't stop him from betting big when he sees an opportunity. Apple doesn't seem like a typical Buffett stock, dependent on constantly churning out new consumer gadgets. But the Oracle of Omaha no doubt believes Apple's brand provides a major competitive advantage. Buffett's Berkshire Hathaway went on a buying spree during the fourth quarter, scooping up 31.2 million additional shares of Apple . That brings the company's total stake up to 165.3 million shares, worth around $28 billion. Apple is now Berkshire's largest stock holding. Apple is still heavily dependent on the iPhone, although newer products like the Apple Watch and its array of services are growing quickly. The biggest risks for Apple are the commodification of smartphones and the lengthening of the upgrade cycle. The company's expensive iPhone X was an attempt to move prices higher to offset any potential decline in volume. Demand has reportedly been weaker than expected . The iPhone X rear-facing camera. Image source: Apple. For Buffett, Apple's brand loyalty is likely what matters most. iPhone users tend to stick with the iPhone, often not even considering the alternatives. That's a recipe for outsized profits. How durable is that brand loyalty? Durable enough for Buffett to hurl nearly $30 billion into the stock. Story continues Danny Vena (Netflix): Daniel Loeb, the investor behind activist hedge fund Third Point, has established one of the most enviable track records among hedge fund managers. Under his guidance, the Offshore Fund has generated an annualized return of 15.8% since December 1996 -- nearly twice the return of the S&P 500. With a track record like that, it's worth examining his recent purchases. Among the most notable additions to Third Point's holdings in the fourth quarter of 2017 was the purchase of 2 million shares of streaming pioneer Netflix. The purchase quickly vaulted the company into the top ten, making it the fund's ninth-largest holding. Netflix saw significant adoption in 2017, adding nearly 24 million members and increasing its subscriber count by 25%. Its worldwide customer base now numbers over 117 million, with more joining every day. Revenue grew to $3.3 billion in the fourth quarter , up 33% year over year, while net income of $67 million nearly tripled over the prior-year quarter. Three young boys in Ghostbusters costumes, in a scene from Netflix's Image source: Netflix. With a total addressable market estimated at 450 million, Netflix could more than triple its existing customer base in the coming decade. That isn't the only reason to be bullish on Netflix. The company has demonstrated significant pricing power, as evidenced by its continuing stellar growth -- even in the face of recent price increases. Netflix also stands to gain over time from its move to develop its own content, a strategy that spreads the cost of each project over a growing list of subscribers. As its customer count grows and its content spending levels off, much more of the company's revenue will make its way to the bottom line. With a significant track record of subscriber growth, increasing revenue, and steadily climbing contribution margins , it's easy to see why one of the world's best investors is buying Netflix. A new oil name Reuben Gregg Brewer (Suncor Energy Inc.): Although not a specific person, 1832 Asset Management is one of the largest asset management firms in Canada with over $100 billion under management. It recently added Canadian oil giant Suncor Energy to its portfolio. Suncor is probably best known as a key owner and operator of Canadian oil sands projects. Oil sands are often considered a high-cost energy option, but that's only half true. The big expenses are faced during the construction phase of an oil sands development. But once up and running, oil sands, which are mined, not drilled, are relatively cheap to operate . Suncor has tried to highlight that fact. Suncor Energy Fort Hills oil sands development. Image source: Suncor Energy. This is interesting right now because Suncor is coming to the end of the construction phase on a couple of new oil projects. One is an offshore oil project and the other is Fort Hills, an oil sands development, which is expected to ramp up to 90% of its full capacity by the end of 2018. The offshore endeavor, known as the Hebron project, is also starting to pump oil. All in, Suncor expects oil production to jump 10% in 2018 and 2019. Add in increasing oil prices and the low ongoing costs of the company's core oil sands projects, and Suncor looks well positioned for the future. Suncor is perhaps somewhat misunderstood by investors because of its oil sands exposure, which many see as a negative. With a dividend yield of 2.8%, slightly above its five-year average and notably higher than what you could get from an S&P 500 Index fund, investors might want to do a deep dive into Suncor. Perhaps 1832 Asset Management is seeing something others are missing. More From The Motley Fool 3 Growth Stocks at Deep-Value Prices 5 Expected Social Security Changes in 2018 6 Years Later, 6 Charts That Show How Far Apple, Inc. Has Come Since Steve Jobs' Passing 10 Best Stocks to Buy Today The $16,122 Social Security Bonus You Cannot Afford to Miss Bitcoin's Biggest Competitor Isn't Ethereum -- It's This Danny Vena owns shares of Apple and Netflix. The Motley Fool owns shares of and recommends Apple and Netflix. The Motley Fool has the following options: long January 2020 $150 calls on Apple and short January 2020 $155 calls on Apple. The Motley Fool has a disclosure policy . \|\| Where to Get a White Label Robo-Advisor for My Financial Planning Practice?: Financial advisors are clamoring for ways to lower costs and automate their back-end. Realistically, computers handle complicated investment management tasks, asset allocation and rebalancing more efficiently than humans. These realities underscore the growing demand for backend, white label robo-advisors. Answering the demand for these private-label robo-advisors are hordes of rapidly launching startups and established financial management players. The white label robo-advisors evolved to lower costs and automate services for the financial advisor. So, if you’re wondering where to get a white label advisor, the answer is almost anywhere, from big brokerage houses such as Fidelity to existing robo-advisors such as Betterment as well as stand-alone white label firms like TradingFront. Following is a starting point for your white label robo-advisor search. This isn’t meant to be an all-inclusive list of all white label robo-advisors. InvestorPlace - Stock Market News, Stock Advice & Trading Tips The white label trend started with Jemstep, a legacy robo-advisor who was bought out by Invesco. Most white label robo-advisors simply create various portfolios of index fund ETFs allocated according to typical risk profiles from conservative to aggressive. Although others offer additional financial advisory management solutions. • 5 Hot Stocks With Huge Revenue Drivers Ahead TradingFront is customizable to your firm’s needs. The company is built by advisors, for advisors. A huge draw for new financial advisors to the TradingFront portal is that advisors just getting started receive free access to their platform. TAM investment advisors want to help financial professionals serve all investors, not only those with high AUM. Their white label platform FinchTech is a fully digital non-advised product. Their white label portfolios are managed by investment professionals, not computers. TAM claims that the non-advised solution reduces financial advisor risk and regulations. AdvisorEngine, formerly NestEgg promises an open architecture white label robo-advisor platform plus more. This firm not only builds, manages and optimizes investment portfolios but also offers account aggregations, financial planning tools and CRM. Marstone promises to fulfill the DOL fiduciary rule with its private label robo product aimed at financial advisory firms. Their advisor dashboard gives a unified view of all your financial advisory information including AUM, client alerts, activity and broader market news and information. Clients can customize their portfolios in line with their values and invest towards specific goals. A newer entrant into the white label robo-advising sphere includes Invest Forward, which uses Folio Institutional as its custodian. This player also offers access to the highly regarded Dimensional Fund Advisors offerings. Invest Forward’s advisor solution includes a customized website, account management tools and back-office robo-advisor technology. Betterment, considered among the firstrobo-advisors, launched Betterment for Advisors in 2014. This backend robo-advisor for financial professionals calls itself a “paperless back office”. Their software automates and streamlines the operational side of the business with an automated portfolio plus account opening, billing, accounting and client communication. Fidelity AMP or Automated Management Platform is a back-end solution for advisors who use Fidelity as their custodian. Available for Fidelity’s Wealthscape financial advisory clients, the offering includes eMoney, wealth management technology. The portal is adjustable from all robo to part human and part robo management. Other services include goal setting onboarding and more. • When Will I Be Able to Invest in Bitcoin With a Robo-Advisor? As with any business decision, decide what solution you need and review the available white label robo-advisor solutions. The field is growing rapidly so it’s quite possible that before you complete this article, there’ll be a new offering on the market. Barbara A. Friedberg, MBA, MS is a veteran portfolio manager, expert investor, and former university finance instructor. She is editor/author of Personal Finance; An Encyclopedia of Modern Money Management and two additional money books. She is CEO ofRobo-Advisor Pros.com, arobo-advisor reviewandinformation website. Additionally, Friedberg ispublisherof the well-regarded investment websiteBarbara Friedberg Personal Finance.com. Follow her on twitter @barbfriedberg and @roboadvisorpros. As of this writing, she does not hold a position in any of the aforementioned securities. • 7 Europe Dividend ETFs for Overseas Income • 6 Big Name Stocks Hedge Funds Are Selling • 4 Undervalued Consumer Stocks to Buy Today Compare Brokers The postWhere to Get a White Label Robo-Advisor for My Financial Planning Practice?appeared first onInvestorPlace. \|\| Where to Get a White Label Robo-Advisor for My Financial Planning Practice?: Financial advisors are clamoring for ways to lower costs and automate their back-end. Realistically, computers handle complicated investment management tasks, asset allocation and rebalancing more efficiently than humans. These realities underscore the growing demand for backend, white label robo-advisors. Answering the demand for these private-label robo-advisors are hordes of rapidly launching startups and established financial management players. The white label robo-advisors evolved to lower costs and automate services for the financial advisor. So, if you’re wondering where to get a white label advisor, the answer is almost anywhere, from big brokerage houses such as Fidelity to existing robo-advisors such as Betterment as well as stand-alone white label firms like TradingFront. Following is a starting point for your white label robo-advisor search. This isn’t meant to be an all-inclusive list of all white label robo-advisors. InvestorPlace - Stock Market News, Stock Advice & Trading Tips White Label Robo-Advisors: The Fintech Solution for Financial Advisors The white label trend started with Jemstep, a legacy robo-advisor who was bought out by Invesco. Most white label robo-advisors simply create various portfolios of index fund ETFs allocated according to typical risk profiles from conservative to aggressive. Although others offer additional financial advisory management solutions. 5 Hot Stocks With Huge Revenue Drivers Ahead TradingFront is customizable to your firm’s needs. The company is built by advisors, for advisors. A huge draw for new financial advisors to the TradingFront portal is that advisors just getting started receive free access to their platform. TAM investment advisors want to help financial professionals serve all investors, not only those with high AUM. Their white label platform FinchTech is a fully digital non-advised product. Their white label portfolios are managed by investment professionals, not computers. TAM claims that the non-advised solution reduces financial advisor risk and regulations. Story continues AdvisorEngine, formerly NestEgg promises an open architecture white label robo-advisor platform plus more. This firm not only builds, manages and optimizes investment portfolios but also offers account aggregations, financial planning tools and CRM. Marstone promises to fulfill the DOL fiduciary rule with its private label robo product aimed at financial advisory firms. Their advisor dashboard gives a unified view of all your financial advisory information including AUM, client alerts, activity and broader market news and information. Clients can customize their portfolios in line with their values and invest towards specific goals. A newer entrant into the white label robo-advising sphere includes Invest Forward, which uses Folio Institutional as its custodian. This player also offers access to the highly regarded Dimensional Fund Advisors offerings. Invest Forward’s advisor solution includes a customized website, account management tools and back-office robo-advisor technology. Betterment, considered among the first robo-advisors , launched Betterment for Advisors in 2014. This backend robo-advisor for financial professionals calls itself a “paperless back office”. Their software automates and streamlines the operational side of the business with an automated portfolio plus account opening, billing, accounting and client communication. Fidelity AMP or Automated Management Platform is a back-end solution for advisors who use Fidelity as their custodian. Available for Fidelity’s Wealthscape financial advisory clients, the offering includes eMoney, wealth management technology. The portal is adjustable from all robo to part human and part robo management. Other services include goal setting onboarding and more. When Will I Be Able to Invest in Bitcoin With a Robo-Advisor? As with any business decision, decide what solution you need and review the available white label robo-advisor solutions. The field is growing rapidly so it’s quite possible that before you complete this article, there’ll be a new offering on the market. Barbara A. Friedberg, MBA, MS is a veteran portfolio manager, expert investor, and former university finance instructor. She is editor/author of Personal Finance; An Encyclopedia of Modern Money Management and two additional money books. She is CEO of Robo-Advisor Pros.com , a robo -advisor review and information website. Additionally, Friedberg is publisher of the well-regarded investment website Barbara Friedberg Personal Finance.com . Follow her on twitter @barbfriedberg and @roboadvisorpros. As of this writing, she does not hold a position in any of the aforementioned securities. More From InvestorPlace 7 Europe Dividend ETFs for Overseas Income 6 Big Name Stocks Hedge Funds Are Selling 4 Undervalued Consumer Stocks to Buy Today Compare Brokers The post Where to Get a White Label Robo-Advisor for My Financial Planning Practice? appeared first on InvestorPlace . \|\| Bitcoin 'creator' slapped with $10 billion lawsuit: Craig Wright, the Australian who has previously claimed to beBitcoincreatorSatoshi Nakamoto, is the subject of a multi billion dollar lawsuit. Wright is being sued by the estate of David Kleiman, who was thought to have co-created the cryptocurrency with the Australian. Kleiman passed away in 2013, but Kleiman's brother Ira claims that Wright somehow appropriated his former partner's bitcoin hoard. According toMotherboard, either Wright and Kleiman were involved in the creation of Bitcoin, or were there moments after the platform was created. Consequently, they apparently had access to mining tools at its earliest time, enabling them to rack up a small fortune in cryptocurrency. The pair are thought to have controlled anything up to 1.1 million BTC, although it's clear that nobody knows the figures for sure. The case itself centers on Wright's conduct shortly after Kleiman died in 2013, and Wright subsequently contacted Kleiman's elderly father. Wright stands accused of fraudulently claiming that David Kleiman had signed over ownership and control of W&K, a company Kleiman ran, to Wright. He supported this with documents that, as far as Ira Kleiman is concerned, were fraudulent, and signed with a fake signature. The lawsuit contends that the value of the contentious Bitcoin, and any associated intellectual property, is worth anything between $5 billion and $10 billion. It also claims that Wright once admitted that the signature used on the documents was computer-generated. The document also highlight's Wright's history of problems with theAustralian Tax Authoritiesthat included the back-dating of crucial documents. Wright himself is a colorful figure in the Bitcoin community, who made a name for himself when he"outed" himself as Nakamotoin 2016. After inviting theBBC, The EconomistandGQto a meeting, he produced evidence that he was in fact the creator of Bitcoin, verified by the Bitcoin foundation's Gavin Andresen. This claim wasthen torn to shreds by other researchers, whoclaimedthe purported evidence waspublicly-available. Days later, Wrightwithdrew his claim, saying that he lacked "the courage," to prove he was Nakamoto. In the subsequent fallout, Wright was subject to intensive scrutiny that painted the computer scientist as something of a fabulist. His Ph.D. credentials werefound to be questionable, and companies he claimed to have worked with professed tohaving never worked with himThe achievements on his LinkedIn profile weresubsequently erasedand questions remain as to whether he was the creator of Bitcoin, or simply had too much free time on his hands. \|\| Bitcoin 'creator' slapped with $10 billion lawsuit: Craig Wright, the Australian who has previously claimed to beBitcoincreatorSatoshi Nakamoto, is the subject of a multi billion dollar lawsuit. Wright is being sued by the estate of David Kleiman, who was thought to have co-created the cryptocurrency with the Australian. Kleiman passed away in 2013, but Kleiman's brother Ira claims that Wright somehow appropriated his former partner's bitcoin hoard. According toMotherboard, either Wright and Kleiman were involved in the creation of Bitcoin, or were there moments after the platform was created. Consequently, they apparently had access to mining tools at its earliest time, enabling them to rack up a small fortune in cryptocurrency. The pair are thought to have controlled anything up to 1.1 million BTC, although it's clear that nobody knows the figures for sure. The case itself centers on Wright's conduct shortly after Kleiman died in 2013, and Wright subsequently contacted Kleiman's elderly father. Wright stands accused of fraudulently claiming that David Kleiman had signed over ownership and control of W&K, a company Kleiman ran, to Wright. He supported this with documents that, as far as Ira Kleiman is concerned, were fraudulent, and signed with a fake signature. The lawsuit contends that the value of the contentious Bitcoin, and any associated intellectual property, is worth anything between $5 billion and $10 billion. It also claims that Wright once admitted that the signature used on the documents was computer-generated. The document also highlight's Wright's history of problems with theAustralian Tax Authoritiesthat included the back-dating of crucial documents. Wright himself is a colorful figure in the Bitcoin community, who made a name for himself when he"outed" himself as Nakamotoin 2016. After inviting theBBC, The EconomistandGQto a meeting, he produced evidence that he was in fact the creator of Bitcoin, verified by the Bitcoin foundation's Gavin Andresen. This claim wasthen torn to shreds by other researchers, whoclaimedthe purported evidence waspublicly-available. Days later, Wrightwithdrew his claim, saying that he lacked "the courage," to prove he was Nakamoto. In the subsequent fallout, Wright was subject to intensive scrutiny that painted the computer scientist as something of a fabulist. His Ph.D. credentials werefound to be questionable, and companies he claimed to have worked with professed tohaving never worked with himThe achievements on his LinkedIn profile weresubsequently erasedand questions remain as to whether he was the creator of Bitcoin, or simply had too much free time on his hands. \|\| Bitcoin 'creator' slapped with $10 billion lawsuit: Craig Wright, the Australian who has previously claimed to beBitcoincreatorSatoshi Nakamoto, is the subject of a multi billion dollar lawsuit. Wright is being sued by the estate of David Kleiman, who was thought to have co-created the cryptocurrency with the Australian. Kleiman passed away in 2013, but Kleiman's brother Ira claims that Wright somehow appropriated his former partner's bitcoin hoard. According toMotherboard, either Wright and Kleiman were involved in the creation of Bitcoin, or were there moments after the platform was created. Consequently, they apparently had access to mining tools at its earliest time, enabling them to rack up a small fortune in cryptocurrency. The pair are thought to have controlled anything up to 1.1 million BTC, although it's clear that nobody knows the figures for sure. The case itself centers on Wright's conduct shortly after Kleiman died in 2013, and Wright subsequently contacted Kleiman's elderly father. Wright stands accused of fraudulently claiming that David Kleiman had signed over ownership and control of W&K, a company Kleiman ran, to Wright. He supported this with documents that, as far as Ira Kleiman is concerned, were fraudulent, and signed with a fake signature. The lawsuit contends that the value of the contentious Bitcoin, and any associated intellectual property, is worth anything between $5 billion and $10 billion. It also claims that Wright once admitted that the signature used on the documents was computer-generated. The document also highlight's Wright's history of problems with theAustralian Tax Authoritiesthat included the back-dating of crucial documents. Wright himself is a colorful figure in the Bitcoin community, who made a name for himself when he"outed" himself as Nakamotoin 2016. After inviting theBBC, The EconomistandGQto a meeting, he produced evidence that he was in fact the creator of Bitcoin, verified by the Bitcoin foundation's Gavin Andresen. This claim wasthen torn to shreds by other researchers, whoclaimedthe purported evidence waspublicly-available. Days later, Wrightwithdrew his claim, saying that he lacked "the courage," to prove he was Nakamoto. In the subsequent fallout, Wright was subject to intensive scrutiny that painted the computer scientist as something of a fabulist. His Ph.D. credentials werefound to be questionable, and companies he claimed to have worked with professed tohaving never worked with himThe achievements on his LinkedIn profile weresubsequently erasedand questions remain as to whether he was the creator of Bitcoin, or simply had too much free time on his hands. \|\| Bitcoin 'creator' slapped with $10 billion lawsuit: Craig Wright , the Australian who has previously claimed to be Bitcoin creator Satoshi Nakamoto , is the subject of a multi billion dollar lawsuit. Wright is being sued by the estate of David Kleiman, who was thought to have co-created the cryptocurrency with the Australian. Kleiman passed away in 2013, but Kleiman's brother Ira claims that Wright somehow appropriated his former partner's bitcoin hoard. According to Motherboard , either Wright and Kleiman were involved in the creation of Bitcoin, or were there moments after the platform was created. Consequently, they apparently had access to mining tools at its earliest time, enabling them to rack up a small fortune in cryptocurrency. The pair are thought to have controlled anything up to 1.1 million BTC, although it's clear that nobody knows the figures for sure. The case itself centers on Wright's conduct shortly after Kleiman died in 2013, and Wright subsequently contacted Kleiman's elderly father. Wright stands accused of fraudulently claiming that David Kleiman had signed over ownership and control of W&K, a company Kleiman ran, to Wright. He supported this with documents that, as far as Ira Kleiman is concerned, were fraudulent, and signed with a fake signature. The lawsuit contends that the value of the contentious Bitcoin, and any associated intellectual property, is worth anything between $5 billion and $10 billion. It also claims that Wright once admitted that the signature used on the documents was computer-generated. The document also highlight's Wright's history of problems with the Australian Tax Authorities that included the back-dating of crucial documents. Wright himself is a colorful figure in the Bitcoin community, who made a name for himself when he "outed" himself as Nakamoto in 2016. After inviting the BBC, The Economist and GQ to a meeting, he produced evidence that he was in fact the creator of Bitcoin, verified by the Bitcoin foundation's Gavin Andresen. This claim was then torn to shreds by other researchers , who claimed the purported evidence was publicly-available . Days later, Wright withdrew his claim , saying that he lacked "the courage," to prove he was Nakamoto. In the subsequent fallout, Wright was subject to intensive scrutiny that painted the computer scientist as something of a fabulist. His Ph.D. credentials were found to be questionable , and companies he claimed to have worked with professed to having never worked with him The achievements on his LinkedIn profile were subsequently erased and questions remain as to whether he was the creator of Bitcoin, or simply had too much free time on his hands. View comments [Social Media Buzz] Bitcoin - BTC Price: $10,901.10 Change in 1h: -0.72% Market cap: $184,130,752,628.00 Ranking: 1 #Bitcoin #BTC \|\| Bitcoin 10/25 値打ちが下がったので1bit強全て売却した。10万程利益があったが 15：00ころにはまた爆上げ。Bitcoingoldが欲しかったのですが我慢できず売ってしまった。毎日チャートを見て一喜一憂する必要がなくなったので結果売却してよかったのかも・・・ \|\| The #BitcoinPizza would be worth US$108,353,000.00 right now (up 2.07% in the last 24 hours): #Bitcoin \|\| $2,500.00 Antminer S9 13.5TH/s-Including Bitmain APW3++ PSU-Immediate Shipping #Bitcoin #Mining #Cryptocurrency http://bit.ly/2HN2uwJ pic.t...	10951.00, 11086.40, 11489.70, 11512.60, 11573.30, 10779.90, 9965.57, 9395.01, 9337.55, 8866.00
Given the historical Bitcoin prices from the last 90 days, predict the next 10 daily closing prices. The historical prices are: 10360.55, 10358.05, 10347.71, 10276.79, 10241.27, 10198.25, 10266.42, 10181.64, 10019.72, 10070.39, 9729.32, 8620.57, 8486.99, 8118.97, 8251.85, 8245.92, 8104.19, 8293.87, 8343.28, 8393.04, 8259.99, 8205.94, 8151.50, 7988.16, 8245.62, 8228.78, 8595.74, 8586.47, 8321.76, 8336.56, 8321.01, 8374.69, 8205.37, 8047.53, 8103.91, 7973.21, 7988.56, 8222.08, 8243.72, 8078.20, 7514.67, 7493.49, 8660.70, 9244.97, 9551.71, 9256.15, 9427.69, 9205.73, 9199.58, 9261.10, 9324.72, 9235.35, 9412.61, 9342.53, 9360.88, 9267.56, 8804.88, 8813.58, 9055.53, 8757.79, 8815.66, 8808.26, 8708.09, 8491.99, 8550.76, 8577.98, 8309.29, 8206.15, 8027.27, 7642.75, 7296.58, 7397.80, 7047.92, 7146.13, 7218.37, 7531.66, 7463.11, 7761.24, 7569.63, 7424.29, 7321.99, 7320.15, 7252.03, 7448.31, 7547.00, 7556.24, 7564.35, 7400.90, 7278.12, 7217.43.	[Bitcoin Technical Analysis for 2019-12-11] Volume: 16350490689, RSI (14-day): 36.69, 50-day EMA: 8013.16, 200-day EMA: 8457.44 [Wider Market Context] Gold Price: 1469.40, Gold RSI: 49.45 Oil Price: 58.76, Oil RSI: 56.95 [Recent News (last 7 days)] Argentinas RSK to start scholarship programme: One of Argentinas most successful blockchain start-ups, RSK, is investing in education through the RSK scholarship programme. The programme will finance solutions for the development of its ecosystem and will include preparing and training RSK specialists. The RSK scholarship programme The RSK project is responsible for the Bitcoin sidechain of the same name, and it has now opened its first scholarship programme for developers and teams that undertake projects on its blockchain. Have you already visited our Grants Program? Up to 200K USD to be awarded for #developers ! Get the details in our post: https://t.co/w89cO6RseV #ToolsForDevsByDevs pic.twitter.com/zyaW88foiL RSK (@RSKsmart) December 5, 2019 The programme opened up on December 1 and will continue to receive applications until the end of 2020, according to RSKs official blog. The RSK scholarship programme is designed for developers, individuals, or teams that require financing to carry out any project that contributes to the growth of the RSK ecosystem. These can be as diverse as browser wallets for decentralised applications (dApps), smart contracts, deploying tools on the chain, or any other development on the RSK sidechain. So far, RSK has allocated $200,000 to the programme. The amount each scholarship recipient will receive will depend on the characteristics of their particular project. Once interested parties register and submit their proposals, the RSK team will individually evaluate each project to determine if it meets the criteria and assess whether the applicant has the ability to carry out their plan. Story continues In addition to new projects, the RSK scholarship programme also has a rewards programme for anyone with ideas to improve the developer experience using RSK. This includes modifying nodes on the RSK network, creating dApps , implementing new services, or improving decentralised applications currently on RSK. More about RSK Created by Argentine developers, RSK Labs designed its RootStock (RSK) sidechain to make the execution of smart contracts with Bitcoin possible. A year ago, it was integrated with RIF Labs in order to accelerate and enhance the development of the internet of value. In May of this year, RSK and RIF together launched a new brand called IOV Labs, designed to be the development arm of both platforms. It is this new start-up that will be responsible for providing funds for the RSK scholarship programme. According to the company, among the advantages of coding applications for its Bitcoin sidechain, RSK allows developers to import, create, and implement their EVM-based dApps [Ethereum Virtual Machine], which offers perfect compatibility with the Ethereum network. RSK also offers integration with Microsoft Azure since April 2019, as well as low transaction costs. In addition to funding, selected participants will also receive tutoring that will give them access to a group of mentors selected by IOV. These specialists will support participants throughout the development of their idea through the programme. Other blockchain projects in Argentina Despite a worsening economy and recent change in leadership, the blockchain space in Argentina appears to be thriving. Beyond RSK, there are several innovative blockchain projects in the country including Experimental, Carnes Validadas, and Ripio. Moreover, Argentina has so far shown a crypto-friendly stance, even allowing users to top up their public transport card , the SUBE, with BTC. The latest funding offered by RSK shows that despite rising inflation and a less-than-favourable economic climate, blockchain start-ups are finding their feet. The post Argentinas RSK to start scholarship programme appeared first on Coin Rivet . \|\| Argentinas RSK to start scholarship programme: One of Argentinas most successful blockchain start-ups, RSK, is investing in education through the RSK scholarship programme. The programme will finance solutions for the development of its ecosystem and will include preparing and training RSK specialists. The RSK scholarship programme The RSK project is responsible for the Bitcoin sidechain of the same name, and it has now opened its first scholarship programme for developers and teams that undertake projects on its blockchain. Have you already visited our Grants Program? Up to 200K USD to be awarded for #developers ! Get the details in our post: https://t.co/w89cO6RseV #ToolsForDevsByDevs pic.twitter.com/zyaW88foiL RSK (@RSKsmart) December 5, 2019 The programme opened up on December 1 and will continue to receive applications until the end of 2020, according to RSKs official blog. The RSK scholarship programme is designed for developers, individuals, or teams that require financing to carry out any project that contributes to the growth of the RSK ecosystem. These can be as diverse as browser wallets for decentralised applications (dApps), smart contracts, deploying tools on the chain, or any other development on the RSK sidechain. So far, RSK has allocated $200,000 to the programme. The amount each scholarship recipient will receive will depend on the characteristics of their particular project. Once interested parties register and submit their proposals, the RSK team will individually evaluate each project to determine if it meets the criteria and assess whether the applicant has the ability to carry out their plan. Story continues In addition to new projects, the RSK scholarship programme also has a rewards programme for anyone with ideas to improve the developer experience using RSK. This includes modifying nodes on the RSK network, creating dApps , implementing new services, or improving decentralised applications currently on RSK. More about RSK Created by Argentine developers, RSK Labs designed its RootStock (RSK) sidechain to make the execution of smart contracts with Bitcoin possible. A year ago, it was integrated with RIF Labs in order to accelerate and enhance the development of the internet of value. In May of this year, RSK and RIF together launched a new brand called IOV Labs, designed to be the development arm of both platforms. It is this new start-up that will be responsible for providing funds for the RSK scholarship programme. According to the company, among the advantages of coding applications for its Bitcoin sidechain, RSK allows developers to import, create, and implement their EVM-based dApps [Ethereum Virtual Machine], which offers perfect compatibility with the Ethereum network. RSK also offers integration with Microsoft Azure since April 2019, as well as low transaction costs. In addition to funding, selected participants will also receive tutoring that will give them access to a group of mentors selected by IOV. These specialists will support participants throughout the development of their idea through the programme. Other blockchain projects in Argentina Despite a worsening economy and recent change in leadership, the blockchain space in Argentina appears to be thriving. Beyond RSK, there are several innovative blockchain projects in the country including Experimental, Carnes Validadas, and Ripio. Moreover, Argentina has so far shown a crypto-friendly stance, even allowing users to top up their public transport card , the SUBE, with BTC. The latest funding offered by RSK shows that despite rising inflation and a less-than-favourable economic climate, blockchain start-ups are finding their feet. The post Argentinas RSK to start scholarship programme appeared first on Coin Rivet . \|\| US Arrests 3 in Alleged Crypto Mining Pool Fraud Scheme: U.S. authorities arrested three alleged scammers attached to the BitClub Network Tuesday who successfully defrauded investors of $722 million through a mining pool Ponzi scheme. According to a press release , Matthew Brent Goettsche, 37, of Lafayette, Colorado; Jobadiah Sinclair Weeks, 38, of Arvada, Colorado; and Joseph Frank Abel, 49, of Camarillo, California were indicted on charges of conspiracy to commit wire fraud (Goettsche and Weeks) and conspiracy to offer unregistered securities through their participation in BitClub Network , a mining pool. The news was first reported by BNN Bloomberg. Two other unidentified defendants remain at large. Related: Australian Police Charge 5 Over $1.8 Million Cryptocurrency Scam The alleged scammers created false figures meant to demonstrate BitClub’s earnings from its bitcoin mining pool to its investors between April 2014 and December 2019. An attached indictment showed how Goettsche and an unidentified individual planned how to make their fake numbers look “real” by providing daily earnings inconsistent on a day-to-day basis. “Goettsche discussed with his conspirators that their target audience would be ‘dumb’ investors, referred to them as ‘sheep,’ and said he was ‘building this whole model on the backs of idiots,’” the release said. Investors were encouraged both to purchase shares of the mining pool, as well as “rewarded” for bringing on new investors. Related: UK Finance Watchdog Mimicked in Crypto Scam Email Goettsche allegedly directed his co-conspirators to raise and lower the Ponzi’s supposed earnings at various times, while Weeks apparently sent an email in mid-2017 which noted BitClub’s shareholder funds were not used to purchase more mining equipment. In a statement, John Tafur, Special Agent in Charge of the IRS-Criminal Investigation group’s Newark field office said, “today’s indictment alleges the defendants were involved in a sophisticated Ponzi scheme involving hundreds of millions of dollars that preyed upon investors all over the world.” Story continues The scam was “a classic con game” with a crypto twist, he said. BitClub has long been an active player in the crypto space too. The pool claimed to receive $136,000 as part of an errant bitcoin transaction fee, of which it donated half to the Bitcoin Foundation in 2016. The pool also apparently supported the controversial SegWit2x upgrade (which was eventually pulled) in 2017. The FBI, IRS-Criminal Investigation and IRS local field offices were all involved in the investigation. The DOJ is directing potential victims to a page on its website to find out more information or fill out a questionnaire. Related Stories A Suspect Crypto Site Stole My Identity – and I’m Furious Protestors Set Alleged Bitcoin Ponzi Scheme Perpetrator’s Home on Fire \|\| US Arrests 3 in Alleged Crypto Mining Pool Fraud Scheme: U.S. authorities arrested three alleged scammers attached to the BitClub Network Tuesday who successfully defrauded investors of $722 million through a mining pool Ponzi scheme. According to a press release, Matthew Brent Goettsche, 37, of Lafayette, Colorado; Jobadiah Sinclair Weeks, 38, of Arvada, Colorado; and Joseph Frank Abel, 49, of Camarillo, California were indicted on charges of conspiracy to commit wire fraud (Goettsche and Weeks) and conspiracy to offer unregistered securities through their participation inBitClub Network, a mining pool. The newswas first reportedby BNN Bloomberg. Two other unidentified defendants remain at large. Related:Australian Police Charge 5 Over $1.8 Million Cryptocurrency Scam The alleged scammers created false figures meant to demonstrate BitClub’s earnings from its bitcoin mining pool to its investors between April 2014 and December 2019. Anattached indictmentshowed how Goettsche and an unidentified individual planned how to make their fake numbers look “real” by providing daily earnings inconsistent on a day-to-day basis. “Goettsche discussed with his conspirators that their target audience would be ‘dumb’ investors, referred to them as ‘sheep,’ and said he was ‘building this whole model on the backs of idiots,’” the release said. Investors were encouraged both to purchase shares of the mining pool, as well as “rewarded” for bringing on new investors. Related:UK Finance Watchdog Mimicked in Crypto Scam Email Goettsche allegedly directed his co-conspirators to raise and lower the Ponzi’s supposed earnings at various times, while Weeks apparently sent an email in mid-2017 which noted BitClub’s shareholder funds were not used to purchase more mining equipment. In a statement, John Tafur, Special Agent in Charge of the IRS-Criminal Investigation group’s Newark field office said, “today’s indictment alleges the defendants were involved in a sophisticated Ponzi scheme involving hundreds of millions of dollars that preyed upon investors all over the world.” The scam was “a classic con game” with a crypto twist, he said. BitClub has long been an active player in the crypto space too. The pool claimed toreceive $136,000as part of an errant bitcoin transaction fee, of whichit donated halfto the Bitcoin Foundation in 2016. The pool alsoapparently supportedthe controversial SegWit2x upgrade (which was eventually pulled) in 2017. The FBI, IRS-Criminal Investigation and IRS local field offices were all involved in the investigation. The DOJ is directing potential victims toa page on its websiteto find out more information or fill out a questionnaire. • A Suspect Crypto Site Stole My Identity – and I’m Furious • Protestors Set Alleged Bitcoin Ponzi Scheme Perpetrator’s Home on Fire \|\| Two new Bitcoin trusts revealed for Asian markets: Asset management group IDEG Investments has launched Asia’s first-ever Bitcoin trust for professional investors. In a press release published on Sunday, IDEG states that the funds are designed as an easy way for Asian “old money” to invest in the digital asset markets. The IDEG Investments group has launched two funds – the Asia Bitcoin Trust I and the Atlas Mining Trust I – which are both managed in different ways. Unlike Grayscale, which is a passively managed fund, the Asia Bitcoin Trust I is actively managed by a professional investment team, whereas the Asia Mining Trust I offers investors the opportunity to share profits from Bitcoin mining operators. Kevin Yang, CEO of IDEG, said: “As the investment manager of the Trust, IDEG will apply a range of hedging and arbitrage strategies in order to gain more Bitcoin for the investors and meanwhile effectively control the risk of drawdowns.” Raymond Yuan, the founder of IDEG, encouraged more professional investors to invest in digital assets, saying: “Bitcoin is a unique asset class that has no correlation with any traditional asset. Investing in Bitcoin can optimise the risk-to-reward ratio of portfolios. It’s time for the institutional investors to include digital assets in their asset allocation strategies.” Yuan also sees a huge potential return from Bitcoin mining operations, which he claimed institutional miners could “improve in almost every aspect” compared to the average Bitcoin miner. Coinbase custody The trusts will use Coinbase’s custody solutions to hold their Bitcoin. US-based crypto exchange Coinbase is the world’s largest custodian of digital assets. Yuan says of Coinbase’s digital asset custody: “Our positioning is to be a bridge to connect traditional investors and digital assets with the highest transparency and the highest security in the industry.” American Bitcoin trust Grayscale, which has previously claimed to be the world’s largest Bitcoin and digital asset fund, also uses Coinbase’s custody solutions to store its cryptocurrencies. Story continues Coinbase, which originally began as an easy fiat-to-crypto on-ramp for retail investors, has recently been focusing heavily on providing professional custody solutions for crypto funds. The custodian holds over 900,000 Bitcoins and a range of other cryptocurrencies. In August, Grayscale transferred over $2.7 billion in crypto assets to Coinbase in fewer than 12 hours. IDEG has yet to announce how many assets under management it has to date. The post Two new Bitcoin trusts revealed for Asian markets appeared first on Coin Rivet . \|\| Two new Bitcoin trusts revealed for Asian markets: Asset management group IDEG Investments has launched Asia’s first-ever Bitcoin trust for professional investors. In a press release published on Sunday, IDEG states that the funds are designed as an easy way for Asian “old money” to invest in the digital asset markets. The IDEG Investments group has launched two funds – the Asia Bitcoin Trust I and the Atlas Mining Trust I – which are both managed in different ways. Unlike Grayscale, which is a passively managed fund, the Asia Bitcoin Trust I is actively managed by a professional investment team, whereas the Asia Mining Trust I offers investors the opportunity to share profits from Bitcoin mining operators. Kevin Yang, CEO of IDEG, said: “As the investment manager of the Trust, IDEG will apply a range of hedging and arbitrage strategies in order to gain more Bitcoin for the investors and meanwhile effectively control the risk of drawdowns.” Raymond Yuan, the founder of IDEG, encouraged more professional investors to invest in digital assets, saying: “Bitcoin is a unique asset class that has no correlation with any traditional asset. Investing in Bitcoin can optimise the risk-to-reward ratio of portfolios. It’s time for the institutional investors to include digital assets in their asset allocation strategies.” Yuan also sees a huge potential return from Bitcoin mining operations, which he claimed institutional miners could “improve in almost every aspect” compared to the average Bitcoin miner. Coinbase custody The trusts will use Coinbase’s custody solutions to hold their Bitcoin. US-based crypto exchange Coinbase is the world’s largest custodian of digital assets. Yuan says of Coinbase’s digital asset custody: “Our positioning is to be a bridge to connect traditional investors and digital assets with the highest transparency and the highest security in the industry.” American Bitcoin trust Grayscale, which has previously claimed to be the world’s largest Bitcoin and digital asset fund, also uses Coinbase’s custody solutions to store its cryptocurrencies. Story continues Coinbase, which originally began as an easy fiat-to-crypto on-ramp for retail investors, has recently been focusing heavily on providing professional custody solutions for crypto funds. The custodian holds over 900,000 Bitcoins and a range of other cryptocurrencies. In August, Grayscale transferred over $2.7 billion in crypto assets to Coinbase in fewer than 12 hours. IDEG has yet to announce how many assets under management it has to date. The post Two new Bitcoin trusts revealed for Asian markets appeared first on Coin Rivet . \|\| Two new Bitcoin trusts revealed for Asian markets: Asset management group IDEG Investments has launched Asia’s first-ever Bitcoin trust for professional investors. In a press release published on Sunday, IDEG states that the funds are designed as an easy way for Asian “old money” to invest in the digital asset markets. The IDEG Investments group has launched two funds – the Asia Bitcoin Trust I and the Atlas Mining Trust I – which are both managed in different ways. Unlike Grayscale, which is a passively managed fund, the Asia Bitcoin Trust I is actively managed by a professional investment team, whereas the Asia Mining Trust I offers investors the opportunity to share profits from Bitcoin mining operators. Kevin Yang, CEO of IDEG, said: “As the investment manager of the Trust, IDEG will apply a range of hedging and arbitrage strategies in order to gain more Bitcoin for the investors and meanwhile effectively control the risk of drawdowns.” Raymond Yuan, the founder of IDEG, encouraged more professional investors to invest in digital assets, saying: “Bitcoin is a unique asset class that has no correlation with any traditional asset. Investing in Bitcoin can optimise the risk-to-reward ratio of portfolios. It’s time for the institutional investors to include digital assets in their asset allocation strategies.” Yuan also sees a huge potential return from Bitcoin mining operations, which he claimed institutional miners could “improve in almost every aspect” compared to the average Bitcoin miner. Coinbase custody The trusts will use Coinbase’s custody solutions to hold their Bitcoin. US-based crypto exchange Coinbase is the world’s largest custodian of digital assets. Yuan says of Coinbase’s digital asset custody: “Our positioning is to be a bridge to connect traditional investors and digital assets with the highest transparency and the highest security in the industry.” American Bitcoin trust Grayscale, which has previously claimed to be the world’s largest Bitcoin and digital asset fund, also uses Coinbase’s custody solutions to store its cryptocurrencies. Story continues Coinbase, which originally began as an easy fiat-to-crypto on-ramp for retail investors, has recently been focusing heavily on providing professional custody solutions for crypto funds. The custodian holds over 900,000 Bitcoins and a range of other cryptocurrencies. In August, Grayscale transferred over $2.7 billion in crypto assets to Coinbase in fewer than 12 hours. IDEG has yet to announce how many assets under management it has to date. The post Two new Bitcoin trusts revealed for Asian markets appeared first on Coin Rivet . \|\| Don’t Answer the Phone! How Americans Have Lost Millions to Scammers: You might think you’re savvy enough to not get duped, but more and more people are falling victim to bank scams, identity theft, online fraud and similar crimes. Scammers change their tactics as people get wise to their ruses. For example, the IRS warned the public about scammers impersonating agents as far back as 2014, and IRS fraud calls were the No. 1 source of complaints on the BeenVerified Spam Call Complaint Monitor. Then Social Security scammers captured that lead in the first half of 2019. Arm yourself with information against scammers, so youknow what to avoid and how to protect yourself. Last updated: Dec. 10, 2019 If your phone rings and the person on the other end claims to be with the Social Security Administration and says that your number was suspended for fraudulent activity, you’ve just encountered the scam reported most frequently to the FTC. Fraudsters threaten arrest unless you wire them money or buy them gift cards to resolve nonexistent legal problems. They often spoof a real Social Security phone number to add a veneer of legitimacy to their scam. They may try other tricks as well, like saying you’ll get approved for Social Security benefits or get more money if you pay them. According toBeenVerified, complaints about this scam more than tripled in the first half of 2019 as compared to the last half of 2018. The Social Security Administration says you’ll get a letter if there’s ever a problem with your Social Security records. Its agents will never threaten you over the phone. Hang up on any suspicious callers and file a report. This scam operates on the pretense of someone claiming they’re from the IRS telling people that they owe back taxes. “The caller then informs the citizen that if they do not pay, the police will come to their home and arrest them,” said Patrick Simasko, elder law attorney and wealth preservation specialist at Simasko Law. “The caller will then ask for money and demand that the payment is in the form of gift cards.” Although complaints about this scam dropped in the first half of 2019 as compared to 2018, according to BeenVerified, it’s still a dangerous one to watch out for. Never provide payment — in any form — over the phone, especially from anyone claiming to be with the IRS. “First and foremost the IRS never calls — and they will never ask for a tax payment with gift cards,” Simasko said. Scammers try to fool victims into giving their credit card numbers over the phone or online under a variety of pretexts. For example, they claim to be able to lower the victim’s interest rate, then charge the credit card without performing any services or use it for their own fraudulent purposes. You can avoid falling victim to this scam by never giving out your credit card number over the phone. This money scam involves phone callers claiming you owe money for a nonexistent bill. The caller demands immediate payment, often using the name of a large company — like Visa or Mastercard — with which you have legitimate dealings. They might have your personal information, obtained via identity theft, so don’t assume they’re legitimate just because they know details like your address and Social Security number. Avoid providing personal information over the phone, especially if you aren’t the one who initiated the call. Learn how tofind out if you really have debt in collections. Everyone likes getting something for free, and online scammers play on this desire by dangling free offers that end up costing you money or compromising your information. For example, you might get an email offering an item in exchange for filling out a survey. The scammer might use the name of a popular store like Walmart to earn your trust. At the end of the survey, you’re asked to pay a small shipping fee, but when you put in your credit card, it’s suddenly hit with charges for unwanted merchandise and subscriptions. Don’t expect to get the item you were originally offered as it likely will never show up. Another common free offer scam involves companies that offer free samples or trials of their products, but hide expensive autoship commitments in the fine print. According to the FTC, they make it very difficult to halt the charges once you realize what’s going on. If you try to return the unwanted goods for a refund, they make it so difficult that you’re likely to give up in disgust. Avoid these scams by being suspicious of any free offer. Research it before you bite, and be extremely cautious when signing up for anything online. Read the terms and conditions carefully and watch out for prechecked boxes signing you up for unwanted extras. Report fraudulent freebies to theFTC. While these are some of the top complaints about phone scams, according to BeenVerified, fraudsters have many other tricks up their sleeves. The next slides cover other scams to watch out for when you spend time online or answer phone calls from strangers. Telemarketers run scams offering unneeded medical devices for which they bill Medicare and doctor’s offices — sometimes pressuring patients to authorize equipment they don’t need. Callers also misrepresent their products, like those who claim to offer a free medical alert system — bundled with hefty monthly monitoring fees. Avoid purchasing medical products over the phone; do research to verify the legitimacy of these offers and whether you need the items. Keep Your Money Safe:The Ultimate Financial Planning Guide — Do It Like the Pros in 8 Steps If you have grandchildren, your first instinct is to help them if they’re in trouble. “This scam preys on that generosity and love a grandparent often has for their family,” said Ron Long, head of Regulatory Affairs and Elder Client Initiatives at Wells Fargo Advisors. “Knowing that many grandparents and grandchildren only connect a few times a year, the perpetrator will call and impersonate a grandchild, requesting emergency funds. He’ll say he lost his wallet, has been in an accident, or is in jail and needs a bond, explicitly asking the victim to not tell his mom and dad. The impersonator gives the grandparent directions to wire money — typically somewhere that requires no identification to collect.” Don’t wire money to anyone you can’t confirm is the actual person you think you’re sending funds to. Scammers on the phone or at your door might pretend to be linked to your local police or firefighters or claim to collect for veterans’ organizations to make you believe that giving them money supports a worthy cause. In reality, charities might get only a small percentage of your donation — or receive nothing at all — because the solicitors keep all of the funds. Research charities through Charity Navigator or Charity Watch before donating any money. It’s exciting to think you’ve won millions of dollars like the lucky Publisher’s Clearinghouse winners you see on TV. Unfortunately, that phone call claiming you’re a big sweepstakes winner is probably a money scam. “With these money scams, a con artist will call the victim and say they won a huge sum of money but have to pay a fee to facilitate the earnings,” said Justin Lavelle, chief communications director at BeenVerified. “Once the scammer receives the wired money, they disappear.” Bottom line: Never pay money in order to receive a prize. The elderly are particularly susceptible to this type of fraud, as are people who aren’t familiar with computers — and they get lured in by fake tech support. The scammer might call you, or you might see a pop-up warning about viruses instructing you to call. “It appears to come from a well-known company,” Long said. “The service provider might request to access your computer, allowing them to see everything on it. In some cases, they might even ask for your credit card number, claiming they need it to fix your computer, when likely they have installed the malware and pocketed the cash.” Get tech support only from trusted, official sources. Magazine sales calls at your door or over the phone might be a ruse to get your credit card or bank information, trick you into paying for a nonexistent subscription or lock you into an overpriced long-term subscription. Traveling sales crews might even steal from your home if you let them inside. Avoid this scam by shopping around for subscription prices and ordering directly from the publisher. Single people often look for love online. Seth Ruden, a senior fraud consultant at ACI Worldwide, said that this type of online search opens these romantic hopefuls up to romance scams, which he calls “one of the most novel social engineering typologies out there.” “Typical of a romance scam is a charming individual developing a long-term long-distance relationship with their victim,” Ruden said. “They do this before requesting a large sum of money to help with an emergency, travel or other empathy-inducing incidents.” The scammer then milks as much money as possible — and finally disappears. Don’t let emotions override common sense; be wary of giving money to anyone you don’t know well. Sales sites such as Craigslist, OfferUp and Facebook Marketplace offer thrifty people the opportunity to turn their trash into some cash. Sadly, many who turn to Craigslist and other sites to sell furnishings and household goods encounter online fraud. Scammers claiming to be in another state or country offer to purchase an item, then send a fraudulent check and get you to wire part of the money back for supposed shipping charges before it bounces. Prevent this by dealing with local buyers only. Some scams target stay-at-home moms and people hoping to supplement Social Security benefits with part-time work by advertising nonexistent jobs and sending fraudulent checks. For example, the secret shopper scam asks victims to cash the check and use the funds to wire money to test Western Union’s customer service. The check bounces and the victim is then liable for the money, which went to the scammer or an accomplice. Don’t wire money to anyone you don’t personally know, and don’t cash checks from strangers, either. People looking to save money on expensive prescriptions can fall for fraudulent websites claiming to sell people’s necessary medications online for less. At best, you waste your money on ineffective pills — and at worst, you could get ill from taking an unknown substance. Only purchase medication from legitimate sources — research the company or website that’s offering you a deal to make sure it’s not fraudulent. Don’t Overpay:How To Save Money on All Your Monthly Expenses and Bills People who lose a spouse or other close relative might be targeted by debt collectors demanding payment of the deceased person’s bills. What they don’t say is that spouses and relatives often aren’t personally responsible for those debts. Typically, those debts are the estate’s obligation — with a few exceptions. Avoid this scam by understanding your rights and legal obligations. Saying “yes” to a phone caller after a seemingly innocent question like “Is this so-and-so?” or “Can you hear me?” can lead to money scams, according to Wade Rasmussen, president of Amerifund. “The scammer will record the victim’s answer and use the recorded voice-print of the victim saying ‘yes,’ to authorize fraudulent activity,” Rasmussen said. “Answer such questions from phone numbers you don’t recognize by repeating the affirming question in your answer, instead of saying yes. For example, answer the questions with ‘I can hear you’ or ‘Who might I ask is calling?'” Ruden said people might receive emails that look like they are from legitimate senders — like a package delivery company — and have links on them that resemble notifications sent by the legitimate entity. “If you didn’t order anything, the email might be sent by an imposter looking to infect your computer with malware,” he said. “Look for evidence in the webpage address or for bad grammar in the text body to confirm the illegitimacy of the source.” People who want to supplement their savings might want to explore the cryptocurrency market, but Steve Razinski of I’ve Tried That, a resource for information on scams, warned that doing so makes them vulnerable to money scams. The scammers claim that “a secret new algorithm has been released that will guarantee it can pick winning trades or ‘the next Bitcoin’ with 99.9% accuracy,” Razinski said. “It’s all a ploy to get you to deposit $500 into an overseas brokerage,” he said. “The software, if it even loads, usually performs worse than a coin flip.” Exercise extreme caution when dealing with cryptocurrency, and research any new methods you find — or that find you — to confirm their legitimacy. Scammers are experts at using social engineering to get your money, and they often do it with bank fraud phone calls. They claim to be from your bank and scare you with claims that your account is compromised or that someone is using your credit or debit cards. They count on your panic preventing you from thinking clearly. They get your passwords, PINs or other information and use it to steal your money. Worse yet, if your information is compromised, scammers might try to spear phish you. They get some information about you and use it to draw out more. For example, they might find out where you bank and the last four digits of your Social Security number. They spoof your bank’s legitimate phone number, use the Social Security number information to win your trust and get you to provide information that allows them to drain your bank accounts. Whenever someone says they’re calling from your bank, hang up and call back to the bank’s phone number that you know is legitimate, even if the caller has some of your personal information. Report the suspicious call to theFTC. Most people have passwords for email, online banking, shopping sites and a vast array of other websites that store sensitive information. Online scammers use phishing to steal them and make fraudulent purchases and withdrawals. Their favorite tactic is sending out phishing emails that look like legitimate requests for your login credentials. Their messages claim to be from popular companies like Apple or Spotify and often claim that you’ve placed a big order and need to follow a link to sign in and cancel it. If you follow a link in those emails and enter your password, you send it right into the scammers’ hands. Never enter a password via an email link, no matter how much you’re tempted to do so. If you think the message could be legitimate, contact the company directly through its website or another trusted method. Missing jury duty can lead to penalties, and online scammers take advantage of that fact. They’ve taken to impersonating court officials and calling potential victims, claiming they didn’t answer a jury duty summons. They toss out threats of jail time unless you send them money or a gift card to pay a fine. They may claim you have to stay on the phone with them while buying the cards or wiring the money to avoid immediate arrest. No legitimate official will ever call with these demands, even if you do miss jury duty. Hang up if you get a suspicious call, then contact your local court or police department. Phone scams continue to evolve as people get wise to them, but you’ll stay safe from most fraud attempts if you follow the FTC’s advice. Never believe callers who use scare tactics like threatening you with arrest or who try to dazzle you with prizes or offers that are too good to be true. Never give out any personal information to a caller, and never make payments to unknown parties over the phone. That’s especially true if they demand a nontraceable, nonrefundable form of payment like a gift card or money transfer app. The caller ID might say they’re legitimate, but it’s easily faked. Hang up as soon as the caller asks for information or money and you’ll stop the scam in its tracks. Online, don’t open email attachments or click links in emails, pop-up windows or suspicious ads. Use difficult-to-guess passwords that incorporate upper and lowercase letters, numbers and special characters, and don’t give them out to anyone or fill out suspicious logins. Ignore offers that are too good to be true, whether they be for shopping, jobs or anything else. Cut off all contact with anyone who asks you for money or personal details. More From GOBankingRates • 50 Best Places To Retire In the US • How To Avoid Wells Fargo’s Monthly Maintenance Fees • Best Regional Banks of 2020 • Retirees Confess What They Wish They’d Done With Their Money This article originally appeared onGOBankingRates.com:Don’t Answer the Phone! How Americans Have Lost Millions to Scammers \|\| Don’t Answer the Phone! How Americans Have Lost Millions to Scammers: You might think you’re savvy enough to not get duped, but more and more people are falling victim to bank scams, identity theft, online fraud and similar crimes. Scammers change their tactics as people get wise to their ruses. For example, the IRS warned the public about scammers impersonating agents as far back as 2014, and IRS fraud calls were the No. 1 source of complaints on the BeenVerified Spam Call Complaint Monitor. Then Social Security scammers captured that lead in the first half of 2019. Arm yourself with information against scammers, so you know what to avoid and how to protect yourself . Last updated: Dec. 10, 2019 Scam No. 1: Social Security Spam Calls From Fraudsters If your phone rings and the person on the other end claims to be with the Social Security Administration and says that your number was suspended for fraudulent activity, you’ve just encountered the scam reported most frequently to the FTC. Fraudsters threaten arrest unless you wire them money or buy them gift cards to resolve nonexistent legal problems. They often spoof a real Social Security phone number to add a veneer of legitimacy to their scam. They may try other tricks as well, like saying you’ll get approved for Social Security benefits or get more money if you pay them. According to BeenVerified , complaints about this scam more than tripled in the first half of 2019 as compared to the last half of 2018. The Social Security Administration says you’ll get a letter if there’s ever a problem with your Social Security records. Its agents will never threaten you over the phone. Hang up on any suspicious callers and file a report. Scam No. 2: Fake IRS Calls This scam operates on the pretense of someone claiming they’re from the IRS telling people that they owe back taxes. “The caller then informs the citizen that if they do not pay, the police will come to their home and arrest them,” said Patrick Simasko, elder law attorney and wealth preservation specialist at Simasko Law. “The caller will then ask for money and demand that the payment is in the form of gift cards.” Story continues Although complaints about this scam dropped in the first half of 2019 as compared to 2018, according to BeenVerified, it’s still a dangerous one to watch out for. Never provide payment — in any form — over the phone, especially from anyone claiming to be with the IRS. “First and foremost the IRS never calls — and they will never ask for a tax payment with gift cards,” Simasko said. Scam No. 3: Phishing Phone Calls About Credit Cards Scammers try to fool victims into giving their credit card numbers over the phone or online under a variety of pretexts. For example, they claim to be able to lower the victim’s interest rate, then charge the credit card without performing any services or use it for their own fraudulent purposes. You can avoid falling victim to this scam by never giving out your credit card number over the phone. Scam No. 4: Phony Debt Collectors This money scam involves phone callers claiming you owe money for a nonexistent bill. The caller demands immediate payment, often using the name of a large company — like Visa or Mastercard — with which you have legitimate dealings. They might have your personal information, obtained via identity theft, so don’t assume they’re legitimate just because they know details like your address and Social Security number. Avoid providing personal information over the phone, especially if you aren’t the one who initiated the call. Learn how to find out if you really have debt in collections . Scam No. 5: Free Offers That Don't Really Exist Everyone likes getting something for free, and online scammers play on this desire by dangling free offers that end up costing you money or compromising your information. For example, you might get an email offering an item in exchange for filling out a survey. The scammer might use the name of a popular store like Walmart to earn your trust. At the end of the survey, you’re asked to pay a small shipping fee, but when you put in your credit card, it’s suddenly hit with charges for unwanted merchandise and subscriptions. Don’t expect to get the item you were originally offered as it likely will never show up. Another common free offer scam involves companies that offer free samples or trials of their products, but hide expensive autoship commitments in the fine print. According to the FTC, they make it very difficult to halt the charges once you realize what’s going on. If you try to return the unwanted goods for a refund, they make it so difficult that you’re likely to give up in disgust. Avoid these scams by being suspicious of any free offer. Research it before you bite, and be extremely cautious when signing up for anything online. Read the terms and conditions carefully and watch out for prechecked boxes signing you up for unwanted extras. Report fraudulent freebies to the FTC . While these are some of the top complaints about phone scams, according to BeenVerified, fraudsters have many other tricks up their sleeves. The next slides cover other scams to watch out for when you spend time online or answer phone calls from strangers. Scam No. 6: Medical and Medicare Fraud Telemarketers run scams offering unneeded medical devices for which they bill Medicare and doctor’s offices — sometimes pressuring patients to authorize equipment they don’t need. Callers also misrepresent their products, like those who claim to offer a free medical alert system — bundled with hefty monthly monitoring fees. Avoid purchasing medical products over the phone; do research to verify the legitimacy of these offers and whether you need the items. Keep Your Money Safe: The Ultimate Financial Planning Guide — Do It Like the Pros in 8 Steps Scam No. 7: The Grandparent Scam If you have grandchildren, your first instinct is to help them if they’re in trouble. “This scam preys on that generosity and love a grandparent often has for their family,” said Ron Long, head of Regulatory Affairs and Elder Client Initiatives at Wells Fargo Advisors. “Knowing that many grandparents and grandchildren only connect a few times a year, the perpetrator will call and impersonate a grandchild, requesting emergency funds. He’ll say he lost his wallet, has been in an accident, or is in jail and needs a bond, explicitly asking the victim to not tell his mom and dad. The impersonator gives the grandparent directions to wire money — typically somewhere that requires no identification to collect.” Don’t wire money to anyone you can’t confirm is the actual person you think you’re sending funds to. Scam No. 8: Fraudulent Charity Solicitations Scammers on the phone or at your door might pretend to be linked to your local police or firefighters or claim to collect for veterans’ organizations to make you believe that giving them money supports a worthy cause. In reality, charities might get only a small percentage of your donation — or receive nothing at all — because the solicitors keep all of the funds. Research charities through Charity Navigator or Charity Watch before donating any money. Scam No. 9: Fake Lottery or Sweepstakes Winnings It’s exciting to think you’ve won millions of dollars like the lucky Publisher’s Clearinghouse winners you see on TV. Unfortunately, that phone call claiming you’re a big sweepstakes winner is probably a money scam. “With these money scams, a con artist will call the victim and say they won a huge sum of money but have to pay a fee to facilitate the earnings,” said Justin Lavelle, chief communications director at BeenVerified. “Once the scammer receives the wired money, they disappear.” Bottom line: Never pay money in order to receive a prize. Scam No. 10: Bogus Tech Support The elderly are particularly susceptible to this type of fraud, as are people who aren’t familiar with computers — and they get lured in by fake tech support. The scammer might call you, or you might see a pop-up warning about viruses instructing you to call. “It appears to come from a well-known company,” Long said. “The service provider might request to access your computer, allowing them to see everything on it. In some cases, they might even ask for your credit card number, claiming they need it to fix your computer, when likely they have installed the malware and pocketed the cash.” Get tech support only from trusted, official sources. Scam No. 11: Magazine Sales Scams Magazine sales calls at your door or over the phone might be a ruse to get your credit card or bank information, trick you into paying for a nonexistent subscription or lock you into an overpriced long-term subscription. Traveling sales crews might even steal from your home if you let them inside. Avoid this scam by shopping around for subscription prices and ordering directly from the publisher. Scam No. 12: 'Catfishing' or Phony Romance Scams Single people often look for love online. Seth Ruden, a senior fraud consultant at ACI Worldwide, said that this type of online search opens these romantic hopefuls up to romance scams, which he calls “one of the most novel social engineering typologies out there.” “Typical of a romance scam is a charming individual developing a long-term long-distance relationship with their victim,” Ruden said. “They do this before requesting a large sum of money to help with an emergency, travel or other empathy-inducing incidents.” The scammer then milks as much money as possible — and finally disappears. Don’t let emotions override common sense; be wary of giving money to anyone you don’t know well. Scam No. 13: Craigslist Sales Scams Sales sites such as Craigslist, OfferUp and Facebook Marketplace offer thrifty people the opportunity to turn their trash into some cash. Sadly, many who turn to Craigslist and other sites to sell furnishings and household goods encounter online fraud. Scammers claiming to be in another state or country offer to purchase an item, then send a fraudulent check and get you to wire part of the money back for supposed shipping charges before it bounces. Prevent this by dealing with local buyers only. Scam No. 14: Part-Time Job Scams Some scams target stay-at-home moms and people hoping to supplement Social Security benefits with part-time work by advertising nonexistent jobs and sending fraudulent checks. For example, the secret shopper scam asks victims to cash the check and use the funds to wire money to test Western Union’s customer service. The check bounces and the victim is then liable for the money, which went to the scammer or an accomplice. Don’t wire money to anyone you don’t personally know, and don’t cash checks from strangers, either. Scam No. 15: Prescription Drug Scams People looking to save money on expensive prescriptions can fall for fraudulent websites claiming to sell people’s necessary medications online for less. At best, you waste your money on ineffective pills — and at worst, you could get ill from taking an unknown substance. Only purchase medication from legitimate sources — research the company or website that’s offering you a deal to make sure it’s not fraudulent. Don’t Overpay: How To Save Money on All Your Monthly Expenses and Bills Scam No. 16: Debt Collectors Demanding Payment for Deceased Relatives' Debt People who lose a spouse or other close relative might be targeted by debt collectors demanding payment of the deceased person’s bills. What they don’t say is that spouses and relatives often aren’t personally responsible for those debts. Typically, those debts are the estate’s obligation — with a few exceptions. Avoid this scam by understanding your rights and legal obligations. Scam No. 17: The 'Yes' Scam Saying “yes” to a phone caller after a seemingly innocent question like “Is this so-and-so?” or “Can you hear me?” can lead to money scams, according to Wade Rasmussen, president of Amerifund. “The scammer will record the victim’s answer and use the recorded voice-print of the victim saying ‘yes,’ to authorize fraudulent activity,” Rasmussen said. “Answer such questions from phone numbers you don’t recognize by repeating the affirming question in your answer, instead of saying yes. For example, answer the questions with ‘I can hear you’ or ‘Who might I ask is calling?'” Scam No. 18: Emails Containing Malware Ruden said people might receive emails that look like they are from legitimate senders — like a package delivery company — and have links on them that resemble notifications sent by the legitimate entity. “If you didn’t order anything, the email might be sent by an imposter looking to infect your computer with malware,” he said. “Look for evidence in the webpage address or for bad grammar in the text body to confirm the illegitimacy of the source.” Scam No. 19: Cryptocurrency Money Scams People who want to supplement their savings might want to explore the cryptocurrency market, but Steve Razinski of I’ve Tried That, a resource for information on scams, warned that doing so makes them vulnerable to money scams. The scammers claim that “a secret new algorithm has been released that will guarantee it can pick winning trades or ‘the next Bitcoin’ with 99.9% accuracy,” Razinski said. “It’s all a ploy to get you to deposit $500 into an overseas brokerage,” he said. “The software, if it even loads, usually performs worse than a coin flip.” Exercise extreme caution when dealing with cryptocurrency, and research any new methods you find — or that find you — to confirm their legitimacy. Scam No. 20: Bank Fraud Calls Scammers are experts at using social engineering to get your money, and they often do it with bank fraud phone calls. They claim to be from your bank and scare you with claims that your account is compromised or that someone is using your credit or debit cards. They count on your panic preventing you from thinking clearly. They get your passwords, PINs or other information and use it to steal your money. Worse yet, if your information is compromised, scammers might try to spear phish you. They get some information about you and use it to draw out more. For example, they might find out where you bank and the last four digits of your Social Security number. They spoof your bank’s legitimate phone number, use the Social Security number information to win your trust and get you to provide information that allows them to drain your bank accounts. Whenever someone says they’re calling from your bank, hang up and call back to the bank’s phone number that you know is legitimate, even if the caller has some of your personal information. Report the suspicious call to the FTC . Scam No. 21: Website Password Requests Most people have passwords for email, online banking, shopping sites and a vast array of other websites that store sensitive information. Online scammers use phishing to steal them and make fraudulent purchases and withdrawals. Their favorite tactic is sending out phishing emails that look like legitimate requests for your login credentials. Their messages claim to be from popular companies like Apple or Spotify and often claim that you’ve placed a big order and need to follow a link to sign in and cancel it. If you follow a link in those emails and enter your password, you send it right into the scammers’ hands. Never enter a password via an email link, no matter how much you’re tempted to do so. If you think the message could be legitimate, contact the company directly through its website or another trusted method. Scam No. 22: Jury Duty Scam Missing jury duty can lead to penalties, and online scammers take advantage of that fact. They’ve taken to impersonating court officials and calling potential victims, claiming they didn’t answer a jury duty summons. They toss out threats of jail time unless you send them money or a gift card to pay a fine. They may claim you have to stay on the phone with them while buying the cards or wiring the money to avoid immediate arrest. No legitimate official will ever call with these demands, even if you do miss jury duty. Hang up if you get a suspicious call, then contact your local court or police department. How To Protect Yourself From Phone and Online Scams Phone scams continue to evolve as people get wise to them, but you’ll stay safe from most fraud attempts if you follow the FTC’s advice. Never believe callers who use scare tactics like threatening you with arrest or who try to dazzle you with prizes or offers that are too good to be true. Never give out any personal information to a caller, and never make payments to unknown parties over the phone. That’s especially true if they demand a nontraceable, nonrefundable form of payment like a gift card or money transfer app. The caller ID might say they’re legitimate, but it’s easily faked. Hang up as soon as the caller asks for information or money and you’ll stop the scam in its tracks. Online, don’t open email attachments or click links in emails, pop-up windows or suspicious ads. Use difficult-to-guess passwords that incorporate upper and lowercase letters, numbers and special characters, and don’t give them out to anyone or fill out suspicious logins. Ignore offers that are too good to be true, whether they be for shopping, jobs or anything else. Cut off all contact with anyone who asks you for money or personal details. More From GOBankingRates 50 Best Places To Retire In the US How To Avoid Wells Fargo’s Monthly Maintenance Fees Best Regional Banks of 2020 Retirees Confess What They Wish They’d Done With Their Money This article originally appeared on GOBankingRates.com : Don’t Answer the Phone! How Americans Have Lost Millions to Scammers \|\| Natural Gas Price Forecast – Natural Gas Markets Trying To Recover: Natural gas marketscontinue to very soft in general, but during the trading session on Tuesday we saw a bit of stability, something that would certainly be welcomed by those long of this commodity. There is a gap that still needs to be filled from the open of the week, meaning that we could get a bounce of about five cents, but at that point one would have to anticipate a bit of a resistance barrier. This is predicated by warmer temperatures being forecasted in the United States for Christmas. This obviously is a killer for demand, but at this point we are at such a low level that one would have to think, and reversal wouldn’t take much to kick off. If nothing else, we could get a bit of profit-taking down of these extraordinarily low levels. The natural gas markets are typically very volatile, so all it will take you some type of weather report calling for extraordinarily cold temperatures, and then natural gas will climb drastically. Beyond that, with the prediction models are notoriously fickle this time of year in the northeastern part of the US, so a sudden turnaround isn’t completely out of the cards at this point. That being said, this is a very bearish market and quite frankly this has been one of the worst winters that I can remember in the natural gas markets. One would think that as we get closer to New Year’s Day there needs to be a surge higher or this will have been a bit of a disaster for natural gas suppliers this year. Please let us know what you think in the comments below Thisarticlewas originally posted on FX Empire • Is Bitcoin Getting Ready For Take-Off? • E-mini Dow Jones Industrial Average (YM) Futures Technical Analysis – 27755 Pivot Controlling Today’s Direction • Trade War: There Is A Limit To Everything • USD/JPY Price Forecast – US Dollar Building A Base • Crude Oil Price Forecast – Crude Oil Markets Pressing Resistance • Gold Price Forecast – Gold Markets Continue To Struggle \|\| Natural Gas Price Forecast – Natural Gas Markets Trying To Recover: Natural gas markets continue to very soft in general, but during the trading session on Tuesday we saw a bit of stability, something that would certainly be welcomed by those long of this commodity. There is a gap that still needs to be filled from the open of the week, meaning that we could get a bounce of about five cents, but at that point one would have to anticipate a bit of a resistance barrier. This is predicated by warmer temperatures being forecasted in the United States for Christmas. This obviously is a killer for demand, but at this point we are at such a low level that one would have to think, and reversal wouldn’t take much to kick off. If nothing else, we could get a bit of profit-taking down of these extraordinarily low levels. NATGAS Video 11.12.19 The natural gas markets are typically very volatile, so all it will take you some type of weather report calling for extraordinarily cold temperatures, and then natural gas will climb drastically. Beyond that, with the prediction models are notoriously fickle this time of year in the northeastern part of the US, so a sudden turnaround isn’t completely out of the cards at this point. That being said, this is a very bearish market and quite frankly this has been one of the worst winters that I can remember in the natural gas markets. One would think that as we get closer to New Year’s Day there needs to be a surge higher or this will have been a bit of a disaster for natural gas suppliers this year. Please let us know what you think in the comments below This article was originally posted on FX Empire More From FXEMPIRE: Is Bitcoin Getting Ready For Take-Off? E-mini Dow Jones Industrial Average (YM) Futures Technical Analysis – 27755 Pivot Controlling Today’s Direction Trade War: There Is A Limit To Everything USD/JPY Price Forecast – US Dollar Building A Base Crude Oil Price Forecast – Crude Oil Markets Pressing Resistance Gold Price Forecast – Gold Markets Continue To Struggle \|\| Nic Carter on Quadriga, Libra and Other Suspect Projects: This post is part of CoinDesk’s 2019 Year in Review, a collection of 100 op-eds, interviews and takes on the state of blockchain and the world. It’s apt that Nic Carter’s favorite book is Candide, a satirical novella published during the age of enlightenment. It’s a story of a sheltered man coming to terms with the hardships of reality. Deeply critical of the optimism of the age, the philosopher Voltaire asks in Candide, “If this is the best of possible worlds, what then are the others?” Not a satirist himself – though he’s given ita hand– Carter is one of crypto’s most dogged critics. His rise to prominence coincided with the gaining popularity of the phrase “blockchain, not bitcoin” — the idea that distributed ledgers are a solution to everything fromworld hunger to cancer.Carter isn’t convinced blockchain will usher in a utopia. Related:Blockchain Faces Big Challenges But the Opportunity Is Enormous If this is the best of all possible ledgers, what’s with all the fraud? But Carter does believe crypto – especially bitcoin – will change the world for the better. As founder of Castle Island Ventures, a venture capital operation, and CoinMetrics, an analytics startup, he’s actively investigating and investing in what he sees as the industry’s most promising projects. We caught up with Carter in late October to discuss the industry’s recent scams, the dangers of fractional reserve banking, Libra, and the effects of spending too little time in “meat-space.” Related:Cryptocurrency Is Most Useful for Breaking Laws and Social Constructs Nic, crypto has come under attack from a lot of places this year, from state actors, the media to some extent, especially after Gerald Cotten died and people lost millions of dollars. I mean, why would anyone trust it? Cotten was such a good case study. What people thought was the case was not the case as it was reported. I was super skeptical of the original story — that this guy just lost some keys. He basically operated a Ponzi exchange. It’s really a story about fractional reserve banking and how everything goes wrong when people think an exchange doesn’t have sufficient reserves. At that point, there’s gonna be a run on the bank. That’s why I really agitate for proofs of reserve. Exchanges should publish periodic attestations that they have X amount. Quadriga should be a catalyst for this. But nobody gave a shit. It was nothing to do with the security of bitcoin or custody. It collapsed because this guy was a fraudster. For whatever reason, people don’t demand proofs of the actual solvency, at least with the vigor they might question banks. Do you think this represents a systemic risk for the industry? That exchanges potentially could be operating when they’re actually insolvent? My guess is that none of the big high profile western exchanges are insolvent. Quadriga probably was the only one, because CoinMetrics has done some workevaluating trading volumeversus bitcoins on the balance sheet [though an imperfect science, a ratio derived from exchange volumes and deposits acts as a “proof of reserves” to show that trading doesn’t exceed assets on chain]. We know deposit numbers generally seem to work, but some of them, like exchanges trying to get a leg up in the market, might have a big incentive tolie, cheat or play unfair. Some of them are undoubtedly insolvent. There’s hundreds of exchanges worldwide, only ahandful meetthe BitLicense requirements in New York, which means they face real consequences if they screw up. Would you say the licensing that Department of Finance is doing in New York state has been helpful? It’s a substitute. A paradox. Because this will cripple and spur development. I’m not some sort of decentralization fetishist. You’re not meant to need to trust the government to trust that bitcoin is sound, for instance. Like if 80 percent of all bitcoins were held in exchanges which were regulated, like the end of being FDIC insured, that’s literally the same model that underscores the banking system. So if we are relying on exchanges which are guaranteed by the government in some way, you can still have bailouts. You could have covert inflation. You’re going to get the same banking system all over again. So it means you haven’t achieved much, which is why I’d prefer instead of regulation, super aggressive transparency. Proving to depositors that they are sound is an obvious thing they can do, instead of getting the hammer from the government eventually. What else happened this year? Libra. Yeah, it seems that is the number one story of the year. What’s really interesting to me is that, Congress got so upset about it, I think mostly to score political points. But I think Facebook miscalculated, because they thought their messaging was about creating a global currency. We’re gonna have this reserve, and we’re gonna fill it with all these foreign currencies, and a little bit of dollars. Obviously, that’s going to offend Congress. Because the dollar is like 70 percent of all international trade. So they’re going to want the reserve full of dollars. Facebook could have gone the patriotic route, and said the Libra Reserve will be full of dollars and maybe 10 percent Swiss francs. So we’d basically export dollars abroad, which helps finance the government. It’d be good for the U.S., good for the treasury. It’d be a new vector for the dollar’s rise around the world. You could keep selling cheap Treasury bills and so on. But they didn’t do that. So, there are consequences. The other thing I find funny is that everybody in Congress, for some reason, woke up to the threat of cryptocurrency, or non-sovereign currency, right when Libra was announced. But bitcoin’s been around for 10 years, and they weren’t worried about it. They’re underestimating it. Mnuchin went on Squawk Box and talked about bitcoin in the context of Libra. I guess in their minds, they don’t even realize that something that is a non-corporate project can actually be viable for money. Or maybe they just surrendered some of the messaging from people like [Congressman]Warren Davidson[Representative, Ohio], who said bitcoin can’t really be controlled and should just be left aside from now. The other thing that nobody’s bringing up is Ripple. Ripple and Ripple Labs are U.S. companies. They’re issuing their own currency, XRP. They’ve sold it by the bucket load for the last six years. And they’re being totally ignored. Why aren’t they getting letters saying: “stop doing this.” I think it’s because no one takes them seriously, but they take Facebook very seriously. In 2018, you were bullish that the SEC would crack down on a bunch of different ICO projects. Yeah, that’s my great shame, man. Yeah, they never did. Yeah, and this year, we saw a bunch of new actions – Telegram just within the past few days – do you think that this phantom of the industry ended up being kind of toothless? It was this looming specter. Our firm doesn’t invest in any tokens for that reason as well as a variety of ethical reasons – I don’t like the dirty secret of the industry: that venture firms get their exit from tokens by selling them to public retail investors. In some way or another, they get a discount. They structure it in a variety of ways, but the way they make money is by drumming up hype for these things and then selling them before it becomes clear that they’re obviously worthless. It’s perverse, because it’s an IPO for a firm that may have a patent, yet has nothing to offer. The whole thing is funded under expectation and hope, and it’s not clear that there’s any sustainable revenue or value accruing to any of these tokens. Period. You know? Maybe Bitcoin just about works. But we don’t even know how to value it. Every other smart contract chain you’re talking about, how do you value those things? Nobody has a good answer. The fact that the investors in these things know their exit comes from retail, which still happens, makes it profoundly unethical. Like even Ripple which has these quarterly disclosure reports where they say how much extra XRP they sold? They can’t even get those numbers right. CoinMetrics looked in and foundserious discrepanciesbetween the on-chain stuff and what the disclosure of 100 million XRP. From the start of my serious involvement in this industry, I thought for sure there would be serious fines. And the perpetrators would be banned from the securities industry or from holding positions as directors of a company. And yeah, that hasn’t been the case. It makes me think that maybe we’re dealing with a S.E.C. that is super risk-averse and doesn’t want to get into costly litigation, unless they think they have a slam dunk. If I had to guess, I think there might be something more coming down from the SEC. Are there any token projects you see as legitimate? Professionally speaking, we are a venture fund. We absolutely could back startups building on other chains. There’s valid things being done on other blockchains. In terms of the monetary use case, I think bitcoin is gonna be the winner for the foreseeable future. But there will be a lot of smart contract chains fighting it out down there, and one of them will probably get meaningful usage at some point. We’re still figuring out the basics, man. Custody, key management, exchanges. They are corrupt. Merchant service is stuff like that. There’s still opportunity, sure. Ultimately, it’ll be nice to start seeing building on lightning. There are half a dozen startups that are targeting lightning. What do you think of [thedangerous ideaof] accelerationism? I’m interested in Curtis Yarvin’s decentralizedweb project. It’s not just about money. It’s society. It’s not just owning your land. It’s laying claim to your identity. If you think about your Twitter handle as a plot of land, or the property that you improve upon and put work into…your social graph, then [you can say how it could valuable]. Ultimately, I think social media is not going to make it. And we’re gonna get something like Urbit or some other federated model like Mastodon to organize a virtual society. It allows you to control your own data in a home server. Someday, optimistically, I think that’s gonna happen in the real world. Like an exit from the state. We’ll have our own states. Decentralized things, or at least bitcoin, represent something philosophical that’s an advancement in human thinking and in human society. Others have called it a truth machine that exists independently of the state. I think bitcoin isn’t actually an end in itself. It’s one of the most critical innovations that we’ve ever developed. The first being when people realized they could encode information by scrawling it down on clay cylinders in Mesopotamia and give information persistence. Blockchain is just a sophisticated version. I bristle a little bit at “truth machine” just because it’s, like “garbage in garbage out.” Also, it gets abused a lot in a non-bitcoin context. There’s not a lot of guarantees in blockchain. You need to attach a computational, real world cost to the job of including information on the ledger to make sure that the information is good. There’s an argument that blockchains are really bad for human transactions — that the technology will only make sense after everything is automated for computers to speak with each other. Yeah, it’s kind of hostile to humans. When humans interacted with blockchains they can mess up, make a typo. We kind of stumbled into this technology. We were progressively going more digital. If bitcoin didn’t exist, we’d have some other former virtual cash. Maybe someone would have rebooted like Chaum’s e-cash. I don’t exactly know how machines would benefit from machine-based currency. I haven’t really puzzled that out. People talk about electric cars paying to charge up. What’s the problem bitcoin solves? It lets people that mistrust each other transact online. Machines could be instructed to trust. Bitcoin is a very cold institution. It’s kind of like a machine, it’s unfeeling, and just follows set rules. All of our best institutions are kind of resistant to capture, resistant to malleability. Will the U.S. create a digital dollar this year? Do you expect more sovereign nations to create coins? The virtualization of currency is only going to continue because it’s like super pro to government objectives. They want to be able to surveil every transaction. Plus, you can’t impose negative interest rates on physical cash. Right? They really want total granular control of the economy through the money supply. But something like that would kill commercial banking, and they have a quasi-monopoly and pretty powerful lobbyists, so I doubt a digital dollar would happen anytime soon. Either way, I don’t think it’s good or bad for bitcoin. • 2019: The Year Washington, Silicon Valley and Beijing Faced Off Over Crypto \|\| Nic Carter on Quadriga, Libra and Other Suspect Projects: This post is part of CoinDesk’s 2019 Year in Review, a collection of 100 op-eds, interviews and takes on the state of blockchain and the world. It’s apt that Nic Carter’s favorite book is Candide, a satirical novella published during the age of enlightenment. It’s a story of a sheltered man coming to terms with the hardships of reality. Deeply critical of the optimism of the age, the philosopher Voltaire asks in Candide, “If this is the best of possible worlds, what then are the others?” Not a satirist himself – though he’s given it a hand – Carter is one of crypto’s most dogged critics. His rise to prominence coincided with the gaining popularity of the phrase “blockchain, not bitcoin” — the idea that distributed ledgers are a solution to everything from world hunger to cancer. Carter isn’t convinced blockchain will usher in a utopia. Related: Blockchain Faces Big Challenges But the Opportunity Is Enormous If this is the best of all possible ledgers, what’s with all the fraud? But Carter does believe crypto – especially bitcoin – will change the world for the better. As founder of Castle Island Ventures, a venture capital operation, and CoinMetrics, an analytics startup, he’s actively investigating and investing in what he sees as the industry’s most promising projects. We caught up with Carter in late October to discuss the industry’s recent scams, the dangers of fractional reserve banking, Libra, and the effects of spending too little time in “meat-space.” Related: Cryptocurrency Is Most Useful for Breaking Laws and Social Constructs Nic, crypto has come under attack from a lot of places this year, from state actors, the media to some extent, especially after Gerald Cotten died and people lost millions of dollars. I mean, why would anyone trust it? Cotten was such a good case study. What people thought was the case was not the case as it was reported. I was super skeptical of the original story — that this guy just lost some keys. He basically operated a Ponzi exchange. It’s really a story about fractional reserve banking and how everything goes wrong when people think an exchange doesn’t have sufficient reserves. At that point, there’s gonna be a run on the bank. That’s why I really agitate for proofs of reserve. Exchanges should publish periodic attestations that they have X amount. Quadriga should be a catalyst for this. But nobody gave a shit. It was nothing to do with the security of bitcoin or custody. It collapsed because this guy was a fraudster. For whatever reason, people don’t demand proofs of the actual solvency, at least with the vigor they might question banks. Story continues Do you think this represents a systemic risk for the industry? That exchanges potentially could be operating when they’re actually insolvent? My guess is that none of the big high profile western exchanges are insolvent. Quadriga probably was the only one, because CoinMetrics has done some work evaluating trading volume versus bitcoins on the balance sheet [though an imperfect science, a ratio derived from exchange volumes and deposits acts as a “ proof of reserves ” to show that trading doesn’t exceed assets on chain]. We know deposit numbers generally seem to work, but some of them, like exchanges trying to get a leg up in the market, might have a big incentive to lie, cheat or play unfair . Some of them are undoubtedly insolvent. There’s hundreds of exchanges worldwide, only a handful meet the BitLicense requirements in New York, which means they face real consequences if they screw up. Would you say the licensing that Department of Finance is doing in New York state has been helpful? It’s a substitute. A paradox. Because this will cripple and spur development. I’m not some sort of decentralization fetishist. You’re not meant to need to trust the government to trust that bitcoin is sound, for instance. Like if 80 percent of all bitcoins were held in exchanges which were regulated, like the end of being FDIC insured, that’s literally the same model that underscores the banking system. So if we are relying on exchanges which are guaranteed by the government in some way, you can still have bailouts. You could have covert inflation. You’re going to get the same banking system all over again. So it means you haven’t achieved much, which is why I’d prefer instead of regulation, super aggressive transparency. Proving to depositors that they are sound is an obvious thing they can do, instead of getting the hammer from the government eventually. What else happened this year? Libra. Yeah, it seems that is the number one story of the year. What’s really interesting to me is that, Congress got so upset about it, I think mostly to score political points. But I think Facebook miscalculated, because they thought their messaging was about creating a global currency. We’re gonna have this reserve, and we’re gonna fill it with all these foreign currencies, and a little bit of dollars. Obviously, that’s going to offend Congress. Because the dollar is like 70 percent of all international trade. So they’re going to want the reserve full of dollars. Facebook could have gone the patriotic route, and said the Libra Reserve will be full of dollars and maybe 10 percent Swiss francs. So we’d basically export dollars abroad, which helps finance the government. It’d be good for the U.S., good for the treasury. It’d be a new vector for the dollar’s rise around the world. You could keep selling cheap Treasury bills and so on. But they didn’t do that. So, there are consequences. The other thing I find funny is that everybody in Congress, for some reason, woke up to the threat of cryptocurrency, or non-sovereign currency, right when Libra was announced. But bitcoin’s been around for 10 years, and they weren’t worried about it. They’re underestimating it. Mnuchin went on Squawk Box and talked about bitcoin in the context of Libra. I guess in their minds, they don’t even realize that something that is a non-corporate project can actually be viable for money. Or maybe they just surrendered some of the messaging from people like [Congressman] Warren Davidson [Representative, Ohio], who said bitcoin can’t really be controlled and should just be left aside from now. The other thing that nobody’s bringing up is Ripple. Ripple and Ripple Labs are U.S. companies. They’re issuing their own currency, XRP. They’ve sold it by the bucket load for the last six years. And they’re being totally ignored. Why aren’t they getting letters saying: “stop doing this.” I think it’s because no one takes them seriously, but they take Facebook very seriously. In 2018, you were bullish that the SEC would crack down on a bunch of different ICO projects. Yeah, that’s my great shame, man. Yeah, they never did. Yeah, and this year, we saw a bunch of new actions – Telegram just within the past few days – do you think that this phantom of the industry ended up being kind of toothless? It was this looming specter. Our firm doesn’t invest in any tokens for that reason as well as a variety of ethical reasons – I don’t like the dirty secret of the industry: that venture firms get their exit from tokens by selling them to public retail investors. In some way or another, they get a discount. They structure it in a variety of ways, but the way they make money is by drumming up hype for these things and then selling them before it becomes clear that they’re obviously worthless. It’s perverse, because it’s an IPO for a firm that may have a patent, yet has nothing to offer. The whole thing is funded under expectation and hope, and it’s not clear that there’s any sustainable revenue or value accruing to any of these tokens. Period. You know? Maybe Bitcoin just about works. But we don’t even know how to value it. Every other smart contract chain you’re talking about, how do you value those things? Nobody has a good answer. The fact that the investors in these things know their exit comes from retail, which still happens, makes it profoundly unethical. Like even Ripple which has these quarterly disclosure reports where they say how much extra XRP they sold? They can’t even get those numbers right. CoinMetrics looked in and found serious discrepancies between the on-chain stuff and what the disclosure of 100 million XRP. From the start of my serious involvement in this industry, I thought for sure there would be serious fines. And the perpetrators would be banned from the securities industry or from holding positions as directors of a company. And yeah, that hasn’t been the case. It makes me think that maybe we’re dealing with a S.E.C. that is super risk-averse and doesn’t want to get into costly litigation, unless they think they have a slam dunk. If I had to guess, I think there might be something more coming down from the SEC. Are there any token projects you see as legitimate? Professionally speaking, we are a venture fund. We absolutely could back startups building on other chains. There’s valid things being done on other blockchains. In terms of the monetary use case, I think bitcoin is gonna be the winner for the foreseeable future. But there will be a lot of smart contract chains fighting it out down there, and one of them will probably get meaningful usage at some point. We’re still figuring out the basics, man. Custody, key management, exchanges. They are corrupt. Merchant service is stuff like that. There’s still opportunity, sure. Ultimately, it’ll be nice to start seeing building on lightning. There are half a dozen startups that are targeting lightning. What do you think of [the dangerous idea of] accelerationism? I’m interested in Curtis Yarvin’s decentralized web project . It’s not just about money. It’s society. It’s not just owning your land. It’s laying claim to your identity. If you think about your Twitter handle as a plot of land, or the property that you improve upon and put work into…your social graph, then [you can say how it could valuable]. Ultimately, I think social media is not going to make it. And we’re gonna get something like Urbit or some other federated model like Mastodon to organize a virtual society. It allows you to control your own data in a home server. Someday, optimistically, I think that’s gonna happen in the real world. Like an exit from the state. We’ll have our own states. Decentralized things, or at least bitcoin, represent something philosophical that’s an advancement in human thinking and in human society. Others have called it a truth machine that exists independently of the state. I think bitcoin isn’t actually an end in itself. It’s one of the most critical innovations that we’ve ever developed. The first being when people realized they could encode information by scrawling it down on clay cylinders in Mesopotamia and give information persistence. Blockchain is just a sophisticated version. I bristle a little bit at “truth machine” just because it’s, like “garbage in garbage out.” Also, it gets abused a lot in a non-bitcoin context. There’s not a lot of guarantees in blockchain. You need to attach a computational, real world cost to the job of including information on the ledger to make sure that the information is good. There’s an argument that blockchains are really bad for human transactions — that the technology will only make sense after everything is automated for computers to speak with each other. Yeah, it’s kind of hostile to humans. When humans interacted with blockchains they can mess up, make a typo. We kind of stumbled into this technology. We were progressively going more digital. If bitcoin didn’t exist, we’d have some other former virtual cash. Maybe someone would have rebooted like Chaum’s e-cash. I don’t exactly know how machines would benefit from machine-based currency. I haven’t really puzzled that out. People talk about electric cars paying to charge up. What’s the problem bitcoin solves? It lets people that mistrust each other transact online. Machines could be instructed to trust. Bitcoin is a very cold institution. It’s kind of like a machine, it’s unfeeling, and just follows set rules. All of our best institutions are kind of resistant to capture, resistant to malleability. Will the U.S. create a digital dollar this year? Do you expect more sovereign nations to create coins? The virtualization of currency is only going to continue because it’s like super pro to government objectives. They want to be able to surveil every transaction. Plus, you can’t impose negative interest rates on physical cash. Right? They really want total granular control of the economy through the money supply. But something like that would kill commercial banking, and they have a quasi-monopoly and pretty powerful lobbyists, so I doubt a digital dollar would happen anytime soon. Either way, I don’t think it’s good or bad for bitcoin. Related Stories 2019: The Year Washington, Silicon Valley and Beijing Faced Off Over Crypto \|\| Is Bitcoin Getting Ready For Take-Off?: The decline of the hash rate, downward price waves, and the general negative news background have led to the fact that some market participants expect theBitcoin to fall downto $5,800. Although compared to the price levels a year ago, Bitcoin is more than 100% more expensive, such sentiment has become possible again in part due to the news from China. In addition to negative indicators, there are a number of reasons to expect the growth of the benchmark cryptocurrency. In particular, the technical analysis showed the formation of a “golden cross” on the weekly chart, which may indicate the approaching growth of the asset. Last time 50 and 100 – daily moving averages (when the line with a longer period crosses the line with a shorter period from top to bottom), crossed in May 2016. Although it took quite a long time before the historic 2017 rally began, the price level reached by the Bitcoin, was worth it. It should be noted that this time it may take quite a long time too, but at least it may indicate the approaching of the local bottom. In addition to the “golden cross”, Whale Alert reported on December 9 about the creation of USDT tokens worth $200 million, which have not yet entered the crypto market. The Bitcoin rally in December 2017 is most actively associated with USDT market pump. However, if this is the case, it is a manipulation dreamed of all Bitcoin and other cryptocurrency holders. In addition to events from the crypto world, there is another supposed factor to support the cryptocurrency market. This is a traditional market that is experiencing a number of serious problems, which may result in a massive sell-off. Endless trade wars, a stock market bubble, central bank monetary policies, populism, and the breaking of ties even between allies can all be a serious force of support for Bitcoin and stablecoins. Although the cryptocurrency market is frightening with its volatility, it can still attract some of the funds of investors taking profits on the traditional market. If we are talking about the traditional market, it is worth remembering the launch of Bakkt’s settlement futures and options. The launch took place according to the schedule, and the market participants were pleasantly surprised by the volumes. The platform showed 1250BTC, which contrasts sharply with 72 BTC in September, when the delivery futures were launched. Everything indicates the readiness of the company to seriously strengthen its market position, in addition, all this is happening with the official permission of the CFTC. And this last factor, rather, causes fears among market participants, as nobody seriously believes in support of cryptocurrencies by the U.S. government and institutional investors. This article was written byFxPro Thisarticlewas originally posted on FX Empire • Copper attempting a fresh breakout • Is Bitcoin Getting Ready For Take-Off? • Gold Price Forecast – Gold Markets Continue To Struggle • Silver Price Forecast – Silver Markets Continue Slow Grind • USD/JPY Price Forecast – US Dollar Building A Base • EUR/USD Price Forecast – Euro To Continue Consolidation \|\| Is Bitcoin Getting Ready For Take-Off?: The decline of the hash rate, downward price waves, and the general negative news background have led to the fact that some market participants expect theBitcoin to fall downto $5,800. Although compared to the price levels a year ago, Bitcoin is more than 100% more expensive, such sentiment has become possible again in part due to the news from China. In addition to negative indicators, there are a number of reasons to expect the growth of the benchmark cryptocurrency. In particular, the technical analysis showed the formation of a “golden cross” on the weekly chart, which may indicate the approaching growth of the asset. Last time 50 and 100 – daily moving averages (when the line with a longer period crosses the line with a shorter period from top to bottom), crossed in May 2016. Although it took quite a long time before the historic 2017 rally began, the price level reached by the Bitcoin, was worth it. It should be noted that this time it may take quite a long time too, but at least it may indicate the approaching of the local bottom. In addition to the “golden cross”, Whale Alert reported on December 9 about the creation of USDT tokens worth $200 million, which have not yet entered the crypto market. The Bitcoin rally in December 2017 is most actively associated with USDT market pump. However, if this is the case, it is a manipulation dreamed of all Bitcoin and other cryptocurrency holders. In addition to events from the crypto world, there is another supposed factor to support the cryptocurrency market. This is a traditional market that is experiencing a number of serious problems, which may result in a massive sell-off. Endless trade wars, a stock market bubble, central bank monetary policies, populism, and the breaking of ties even between allies can all be a serious force of support for Bitcoin and stablecoins. Although the cryptocurrency market is frightening with its volatility, it can still attract some of the funds of investors taking profits on the traditional market. If we are talking about the traditional market, it is worth remembering the launch of Bakkt’s settlement futures and options. The launch took place according to the schedule, and the market participants were pleasantly surprised by the volumes. The platform showed 1250BTC, which contrasts sharply with 72 BTC in September, when the delivery futures were launched. Everything indicates the readiness of the company to seriously strengthen its market position, in addition, all this is happening with the official permission of the CFTC. And this last factor, rather, causes fears among market participants, as nobody seriously believes in support of cryptocurrencies by the U.S. government and institutional investors. This article was written byFxPro Thisarticlewas originally posted on FX Empire • Copper attempting a fresh breakout • Is Bitcoin Getting Ready For Take-Off? • Gold Price Forecast – Gold Markets Continue To Struggle • Silver Price Forecast – Silver Markets Continue Slow Grind • USD/JPY Price Forecast – US Dollar Building A Base • EUR/USD Price Forecast – Euro To Continue Consolidation \|\| Is Bitcoin Getting Ready For Take-Off?: The decline of the hash rate, downward price waves, and the general negative news background have led to the fact that some market participants expect the Bitcoin to fall down to $5,800. Although compared to the price levels a year ago, Bitcoin is more than 100% more expensive, such sentiment has become possible again in part due to the news from China. In addition to negative indicators, there are a number of reasons to expect the growth of the benchmark cryptocurrency. In particular, the technical analysis showed the formation of a golden cross on the weekly chart, which may indicate the approaching growth of the asset. Last time 50 and 100 daily moving averages (when the line with a longer period crosses the line with a shorter period from top to bottom), crossed in May 2016. Although it took quite a long time before the historic 2017 rally began, the price level reached by the Bitcoin, was worth it. It should be noted that this time it may take quite a long time too, but at least it may indicate the approaching of the local bottom. In addition to the golden cross, Whale Alert reported on December 9 about the creation of USDT tokens worth $200 million, which have not yet entered the crypto market. The Bitcoin rally in December 2017 is most actively associated with USDT market pump. However, if this is the case, it is a manipulation dreamed of all Bitcoin and other cryptocurrency holders. In addition to events from the crypto world, there is another supposed factor to support the cryptocurrency market. This is a traditional market that is experiencing a number of serious problems, which may result in a massive sell-off. Endless trade wars, a stock market bubble, central bank monetary policies, populism, and the breaking of ties even between allies can all be a serious force of support for Bitcoin and stablecoins. Although the cryptocurrency market is frightening with its volatility, it can still attract some of the funds of investors taking profits on the traditional market. Story continues If we are talking about the traditional market, it is worth remembering the launch of Bakkts settlement futures and options. The launch took place according to the schedule, and the market participants were pleasantly surprised by the volumes. The platform showed 1250 BTC , which contrasts sharply with 72 BTC in September, when the delivery futures were launched. Everything indicates the readiness of the company to seriously strengthen its market position, in addition, all this is happening with the official permission of the CFTC. And this last factor, rather, causes fears among market participants, as nobody seriously believes in support of cryptocurrencies by the U.S. government and institutional investors. This article was written by FxPro This article was originally posted on FX Empire More From FXEMPIRE: Copper attempting a fresh breakout Is Bitcoin Getting Ready For Take-Off? Gold Price Forecast Gold Markets Continue To Struggle Silver Price Forecast Silver Markets Continue Slow Grind USD/JPY Price Forecast US Dollar Building A Base EUR/USD Price Forecast Euro To Continue Consolidation \|\| SEC gives green light to Bitcoin futures fund: The Securities and Exchange Commission (SEC) has given the green light to an investment fund which will invest in Bitcoin futures. The fund will be managed by Stone Ridge Funds – a company which currently has around $15bn worth of assets under management – and will be run with the intent to invest only in cash-settled futures. This will help mitigate the risks associated with directly holding digital assets. The new fund has received the personal backing of the SEC’s director of investment management Dalia Blass, who claimed the move is an example of her recent endeavours to engage with the fund industry. The fund is also a closed-end interval fund that doesn’t offer daily redemptions, meaning large, short-term liquidity demands will have little effect on price. Stone Ridge Funds filed the registration statement back in October, and it has been subject to two amendments before finally coming into effect on December 9. The fund is reportedly the first of its kind to be approved by the SEC. Stone Ridge Funds is a subsidiary of Stone Ridge Holdings Group, whose focus is on institutional clients with long-term goals. It will serve as the fund’s investment adviser. Blass isn’t the only SEC official to endorse the fund, with commissioner Hester ‘Crypto Mom’ Pierce sharing similar sentiments, claiming the move is a “bit of progress”. Interested in reading more SEC-related news? Discover more about the SEC urging a court to reopen a case against crypto Ponzi scammer Renwick Haddow. The post SEC gives green light to Bitcoin futures fund appeared first on Coin Rivet . \|\| SEC gives green light to Bitcoin futures fund: The Securities and Exchange Commission (SEC) has given the green light to an investment fund which will invest in Bitcoin futures. The fund will be managed by Stone Ridge Funds – a company which currently has around $15bn worth of assets under management – and will be run with the intent to invest only in cash-settled futures. This will help mitigate the risks associated with directly holding digital assets. The new fund has received the personal backing of the SEC’s director of investment management Dalia Blass, who claimed the move is an example of her recent endeavours to engage with the fund industry. The fund is also a closed-end interval fund that doesn’t offer daily redemptions, meaning large, short-term liquidity demands will have little effect on price. Stone Ridge Funds filed the registration statement back in October, and it has been subject to two amendments before finally coming into effect on December 9. The fund is reportedly the first of its kind to be approved by the SEC. Stone Ridge Funds is a subsidiary of Stone Ridge Holdings Group, whose focus is on institutional clients with long-term goals. It will serve as the fund’s investment adviser. Blass isn’t the only SEC official to endorse the fund, with commissioner Hester ‘Crypto Mom’ Pierce sharing similar sentiments, claiming the move is a “bit of progress”. Interested in reading more SEC-related news? Discover more about the SEC urging a court to reopen a case against crypto Ponzi scammer Renwick Haddow. The post SEC gives green light to Bitcoin futures fund appeared first on Coin Rivet . \|\| SEC gives green light to Bitcoin futures fund: The Securities and Exchange Commission (SEC) has given the green light to an investment fund which will invest in Bitcoin futures. The fund will be managed by Stone Ridge Funds – a company which currently has around $15bn worth of assets under management – and will be run with the intent to invest only in cash-settled futures. This will help mitigate the risks associated with directly holding digital assets. The new fund has received the personal backing of the SEC’s director of investment management Dalia Blass, who claimed the move is an example of her recent endeavours to engage with the fund industry. The fund is also a closed-end interval fund that doesn’t offer daily redemptions, meaning large, short-term liquidity demands will have little effect on price. Stone Ridge Funds filed the registration statement back in October, and it has been subject to two amendments before finally coming into effect on December 9. The fund is reportedly the first of its kind to be approved by the SEC. Stone Ridge Funds is a subsidiary of Stone Ridge Holdings Group, whose focus is on institutional clients with long-term goals. It will serve as the fund’s investment adviser. Blass isn’t the only SEC official to endorse the fund, with commissioner Hester ‘Crypto Mom’ Pierce sharing similar sentiments, claiming the move is a “bit of progress”. Interested in reading more SEC-related news? Discover more about the SEC urging a court to reopen a case against crypto Ponzi scammer Renwick Haddow. The post SEC gives green light to Bitcoin futures fund appeared first on Coin Rivet . \|\| How Cryptocurrency Traders Use Leverage: As an asset class, cryptocurrency has evolved substantially in the past decade. With the introduction of increasingly sophisticated speculative platforms and trading instruments, the crypto trading environment is a far cry from the handful of savvy buy-and-holders that constituted the initial investors in bitcoin, ethereum, and other coins. Despite the influx of investment vehicles and exchanges that now support digital assets, one of the most popular means of speculating on cryptocurrency remains forex-style contract pairs. This means using margin to speculate on the spread between a cryptocurrency and another asset, which makes the most of the asset’s historical volatility without requiring traders to buy the actual asset. However, this type of Contract for Difference (CFD) trading can introduce a good deal of risk to a trader’s portfolio. It’s for that reason traders should have a full accounting of the role margin and derivatives play in the contemporary cryptocurrency market. The ABCs Of CFD Contract For Difference trading is among the class of financial terms that does exactly what it says on the tin. Essentially, traders using CFDs are purchasing long futures contracts for an asset—let’s say bitcoin—that will ultimately be fulfilled by another denomination—say the U.S. dollar. The contract itself may become more or less valuable based on the increase or decrease in difference between bitcoin and the dollar. Cryptocurrency traders gravitate CFDs because they don’t require them to put up full funding for the underlying assets in the trade. While the contracts do represent ownership of the underlying asset, many contract brokers such CryptoRocket only require traders to fund a fraction of the total contract value through their account and provide the remaining funding on margin. This means traders can take an outsized contract position in the spread between two assets and sell once they’ve realized their target profit. Story continues Despite this convenience, traders shouldn’t lose perspective that they are still holding the underlying assets during a trade, even if it is just on paper. This means that, while traders using a broker like CryptoRocket need only put up 1% of a cryptocurrency contract’s full value, they are still carrying the full risk of the trade. While there is no cap to how much can be made trading these assets, there is also no floor to how much can be lost. This outsized risk is why some countries like the United States have regulations banning brokers located in their nations from engaging in CFD trading. It is also why it is strongly encouraged that traders over-fund their accounts and utilize stop-loss orders to avoid losing more than they can afford and incurring a margin call. Because while CFDs do carry a good amount of risk, smart, well-executed CFD trades can also produce outsized profits. An Illustration Let’s take a look at a timely example of how cryptocurrency CFD trading works, using the current spread in BTC/USD on CryptoRocket as our guide. Let’s say you were interested in the BTC/USD pair and you felt the price of bitcoin will go up above $7,600. Using margin, you purchase a contract for 1% of the current ask—$7,445—which means you will need a minimum of $74 to fund the transaction. In the event that bitcoin does rise above your $7,600 target, let’s say you can exit at exactly $7,645, your profit from that would be $200 on your initial $74 investment, which after CryptoRocket ’s flat $6 margin fees comes to $194 net profit. Of course, should bitcoin fall to say $7,380 the loss would essentially wipe-out your initial capital ($74 - $65 = $9). You can see how this could be a problem if the loss extends beyond the capital in your account. Should that happen, it can eventually lead to what is called a margin call and your account holdings could be forfeit until the broker is able to settle your remaining margin. This is the main reason why most cryptocurrency traders placed a stop-loss order. Of course, traders who are eligible to trade CFD and who practice due caution to minimize loss and ensure account funding can reap outsized returns with the strategy. Like with all trading, it's simply critical they understand the full degree of risk posed by any trading vehicle. Risk Warning: Trading leveraged products such as Forex and CFDs may not be suitable for all investors as they carry a degree of risk to your capital. Please ensure that you fully understand the risks involved, taking into account your investments objectives and level of experience, before trading, and if necessary seek independent advice. Please read the full Risk Disclosure This website is not directed at any jurisdiction and is not intended for any use that would be contrary to local law or regulation. Show Advertiser Disclosure See more from Benzinga Is Cryptocurrency In For Another Volatile December? © 2019 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. [Social Media Buzz] None available.	7243.13, 7269.68, 7124.67, 7152.30, 6932.48, 6640.52, 7276.80, 7202.84, 7218.82, 7191.16
Given the historical Bitcoin prices from the last 90 days, predict the next 10 daily closing prices. The historical prices are: 222.60, 224.63, 235.27, 234.18, 236.46, 231.27, 226.39, 219.43, 229.29, 225.85, 225.81, 236.15, 232.08, 234.93, 240.36, 239.02, 236.12, 229.78, 237.33, 243.86, 241.83, 240.30, 242.16, 241.11, 236.38, 236.93, 237.60, 236.15, 236.80, 233.13, 231.95, 234.02, 235.34, 240.35, 238.87, 240.95, 237.11, 237.12, 237.28, 237.41, 237.10, 233.35, 230.19, 222.93, 225.80, 225.87, 224.32, 224.95, 225.62, 222.88, 228.49, 229.05, 228.80, 229.71, 229.98, 232.40, 233.54, 236.82, 250.90, 249.28, 249.01, 244.61, 245.21, 243.94, 246.99, 244.30, 240.51, 242.80, 243.59, 250.99, 249.01, 257.06, 263.07, 258.62, 255.41, 256.34, 260.89, 271.91, 269.03, 266.21, 270.79, 269.23, 284.89, 293.11, 310.87, 292.05, 287.46, 285.83, 278.09, 279.47.	[Bitcoin Technical Analysis for 2015-07-17] Volume: 27591400, RSI (14-day): 56.70, 50-day EMA: 258.93, 200-day EMA: 257.15 [Wider Market Context] Gold Price: 1131.80, Gold RSI: 30.32 Oil Price: 50.89, Oil RSI: 30.85 [Recent News (last 7 days)] Trading Google earnings: 3 stocks to buy: Google (NASDAQ: GOOGL) shares spiked following a strong quarterly earnings report Thursday, and CNBC "Fast Money" traders jumped on the bandwagon with investors. "I think the stock's got real runway here. I think it can turn and go a lot higher," said trader David Seaburg. The Internet giant's stock surged more than 10 percent in extended trading as second-quarter profit of $6.99 per share topped analysts' expectations. Though revenue fell slightly short of expectations and crucial ad metrics were mixed, markets cheered signs of expense control and strong signs for the YouTube video platform. "I thought it was undervalued before. This is not a crazy valuation here," said trader Karen Finerman, who owns Google stock. Read More Google shares jump as profits handily beat expectations Google seems primed to move higher, and investors should hold it with $600 per share as a floor, said trader Guy Adami. It closed the regular session above $601 before the after-hours spike. Trader Brian Kelly added that he saw positive signs in financial discipline and YouTube, but he would wait for a pullback to buy Google shares. A post-earnings spike in Netflix (NASDAQ: NFLX) shares, among other names, helped push the Nasdaq Composite (NASDAQ: .IXIC) to a record close Thursday. Looking forward in the technology sector, Kelly sees upside in Microsoft (NASDAQ: MSFT) . Read More Overseas growth is driving Netflix stock surge: Analyst Adami also noted that Facebook (NASDAQ: FB) looks to be "breaking out." The stock has gone about 16 percent higher this year. Disclosures: Brian Kelly Brian Kelly is long BBRY, BTC=; ITB, TAN, TLT, TSL and euro. He is short yuan and yen. Today he bought ITB. Karen Finerman Karen is long BABA, BAC, C, FINL, FL, GOOG, GOOGL, JPM, KORS, M, URI, BABA puts and URI calls. She is short SPY. Her firm is long ANTM, AAPL, BAC, C, DIS, FBT, FINL, FL, GILD, GOOG, GOOGL, GPS, IBB, JPM, KORS, M, SUNE, URI, XBI, KORS call spreads, URI calls, KORS puts and SPY put spreads. Her firm is short IWM, SPY and MDY. Karen Finerman is on the board of GrafTech International. Story continues Guy Adami Guy Adami is long CELG, EXAS and INTC. Guy Adami's wife, Linda Snow, works at Merck. More From CNBC Top News and Analysis Latest News Video Personal Finance \|\| Trading Google earnings: 3 stocks to buy: Google(NASDAQ: GOOGL)shares spiked following a strong quarterly earnings report Thursday, and CNBC"Fast Money"traders jumped on the bandwagon with investors. "I think the stock's got real runway here. I think it can turn and go a lot higher," said trader David Seaburg. The Internet giant's stock surged more than 10 percent in extended trading as second-quarter profit of $6.99 per share topped analysts' expectations. Though revenue fell slightly short of expectations and crucial ad metrics were mixed, markets cheered signs of expense control and strong signs for the YouTube video platform. "I thought it was undervalued before. This is not a crazy valuation here," said trader Karen Finerman, who owns Google stock. Read MoreGoogle shares jump as profits handily beat expectations Google seems primed to move higher, and investors should hold it with $600 per share as a floor, said trader Guy Adami. It closed the regular session above $601 before the after-hours spike. Trader Brian Kelly added that he saw positive signs in financial discipline and YouTube, but he would wait for a pullback to buy Google shares. A post-earnings spike in Netflix(NASDAQ: NFLX)shares, among other names, helped push the Nasdaq Composite(NASDAQ: .IXIC)to a record close Thursday. Looking forward in the technology sector, Kelly sees upside in Microsoft(NASDAQ: MSFT). Read MoreOverseas growth is driving Netflix stock surge: Analyst Adami also noted that Facebook(NASDAQ: FB)looks to be "breaking out." The stock has gone about 16 percent higher this year. Disclosures: Brian Kelly Brian Kelly is long BBRY, BTC=; ITB, TAN, TLT, TSL and euro. He is short yuan and yen. Today he bought ITB. Karen Finerman Karen is long BABA, BAC, C, FINL, FL, GOOG, GOOGL, JPM, KORS, M, URI, BABA puts and URI calls. She is short SPY. Her firm is long ANTM, AAPL, BAC, C, DIS, FBT, FINL, FL, GILD, GOOG, GOOGL, GPS, IBB, JPM, KORS, M, SUNE, URI, XBI, KORS call spreads, URI calls, KORS puts and SPY put spreads. Her firm is short IWM, SPY and MDY. Karen Finerman is on the board of GrafTech International. Guy Adami Guy Adami is long CELG, EXAS and INTC. Guy Adami's wife, Linda Snow, works at Merck. More From CNBC • Top News and Analysis • Latest News Video • Personal Finance \|\| Bitnet and BlockCypher Announce Deal to Remove Risk in Accepting Bitcoin: BELFAST, UNITED KINGDOM and SAN FRANCISCO, CA--(Marketwired - Jul 16, 2015) -Bitnet, an enterprise bitcoin payments processor, today announced that they have selectedBlockCypher, a blockchain web services company, as a key data provider to help Bitnet mitigate the risk for merchants in accepting bitcoin payments. Bitnet's new 'Instant Approval' service addresses the challenge faced by merchants of waiting for bitcoin transactions to be confirmed on the blockchain. This process can take over an hour if merchants require guarantees from their payment processor that transactions will be settled. Drawing on the long industry experience of their team in managing online payment risk for merchants, Bitnet has built a solution that calculates the probability of whether a bitcoin transaction will ultimately confirm on the blockchain. Significantly, Bitnet takes financial liability for that decision. The 'Instant Approval' service relies on a number of data points, crucial to which are BlockCypher's double-spend detection and transaction propagation metrics. The new 'Instant Approval' service enables merchants to accept bitcoin within their existing checkout flows that are typically built around accepting card payments, where authorizations that guarantee funds are provided within seconds. "We are delighted to work with Bitnet," said Catheryne Nicholson, CEO at BlockCypher. "Their expertise in the intricacies of enterprise payments can unlock bitcoin's potential in very large-scale industries that experience a high volume of chargebacks." "One of the biggest challenges for merchants wanting to accept bitcoin is how to accommodate the delayed confirmation times into their 'real-time' checkout flows and still be assured of being funded," said Seamus Cushley, VP Product at Bitnet. "We partnered with BlockCypher to provide key data for our 'Instant Approval' service due to their best-in-class metrics and enterprise service." The two companies have been collaborating for the last six months to make this deal happen. It's an example of the philosophy both companies share of working together to collectively further the Bitcoin ecosystem, also echoed in Bitnet's core values: "If you want to travel fast, travel alone. If you want to travel far, travel together. Let's do this together." About Bitnet:Bitnet provides a digital commerce platform enabling enterprise-scale merchants to accept bitcoin payments. Bitnet's engineering, product, and business development team helped build and manage the world's largest payment gateway, CyberSource, which was sold to the world's largest payment network, Visa, for $2 billion in 2010. Bitnet has offices in San Francisco, California; Belfast, Northern Ireland; and Singapore. For more information visithttps://www.bitnet.io. About BlockCypher:BlockCypher helps companies easily build reliable block chain applications, exposing simple web APIs for developers to build on. BlockCypher runs multiple block chains on the same infrastructure, including their own block chain. BlockCypher provides a cloud-optimized enterprise-grade block chain platform with no single point of failure, linear scaling, and uptimes >99.99%. BlockCypher's office is in Redwood City, California. For more information, visithttp://www.blockcypher.com. \|\| Bitnet and BlockCypher Announce Deal to Remove Risk in Accepting Bitcoin: BELFAST, UNITED KINGDOM and SAN FRANCISCO, CA--(Marketwired - Jul 16, 2015) - Bitnet , an enterprise bitcoin payments processor, today announced that they have selected BlockCypher , a blockchain web services company, as a key data provider to help Bitnet mitigate the risk for merchants in accepting bitcoin payments. Bitnet's new 'Instant Approval' service addresses the challenge faced by merchants of waiting for bitcoin transactions to be confirmed on the blockchain. This process can take over an hour if merchants require guarantees from their payment processor that transactions will be settled. Drawing on the long industry experience of their team in managing online payment risk for merchants, Bitnet has built a solution that calculates the probability of whether a bitcoin transaction will ultimately confirm on the blockchain. Significantly, Bitnet takes financial liability for that decision. The 'Instant Approval' service relies on a number of data points, crucial to which are BlockCypher's double-spend detection and transaction propagation metrics. The new 'Instant Approval' service enables merchants to accept bitcoin within their existing checkout flows that are typically built around accepting card payments, where authorizations that guarantee funds are provided within seconds. "We are delighted to work with Bitnet," said Catheryne Nicholson, CEO at BlockCypher. "Their expertise in the intricacies of enterprise payments can unlock bitcoin's potential in very large-scale industries that experience a high volume of chargebacks." "One of the biggest challenges for merchants wanting to accept bitcoin is how to accommodate the delayed confirmation times into their 'real-time' checkout flows and still be assured of being funded," said Seamus Cushley, VP Product at Bitnet. "We partnered with BlockCypher to provide key data for our 'Instant Approval' service due to their best-in-class metrics and enterprise service." The two companies have been collaborating for the last six months to make this deal happen. It's an example of the philosophy both companies share of working together to collectively further the Bitcoin ecosystem, also echoed in Bitnet's core values: "If you want to travel fast, travel alone. If you want to travel far, travel together. Let's do this together." About Bitnet: Bitnet provides a digital commerce platform enabling enterprise-scale merchants to accept bitcoin payments. Bitnet's engineering, product, and business development team helped build and manage the world's largest payment gateway, CyberSource, which was sold to the world's largest payment network, Visa, for $2 billion in 2010. Bitnet has offices in San Francisco, California; Belfast, Northern Ireland; and Singapore. For more information visit https://www.bitnet.io . About BlockCypher: BlockCypher helps companies easily build reliable block chain applications, exposing simple web APIs for developers to build on. BlockCypher runs multiple block chains on the same infrastructure, including their own block chain. BlockCypher provides a cloud-optimized enterprise-grade block chain platform with no single point of failure, linear scaling, and uptimes >99.99%. BlockCypher's office is in Redwood City, California. For more information, visit http://www.blockcypher.com . \|\| Bitnet and BlockCypher Announce Deal to Remove Risk in Accepting Bitcoin: BELFAST, UNITED KINGDOM and SAN FRANCISCO, CA--(Marketwired - Jul 16, 2015) -Bitnet, an enterprise bitcoin payments processor, today announced that they have selectedBlockCypher, a blockchain web services company, as a key data provider to help Bitnet mitigate the risk for merchants in accepting bitcoin payments. Bitnet's new 'Instant Approval' service addresses the challenge faced by merchants of waiting for bitcoin transactions to be confirmed on the blockchain. This process can take over an hour if merchants require guarantees from their payment processor that transactions will be settled. Drawing on the long industry experience of their team in managing online payment risk for merchants, Bitnet has built a solution that calculates the probability of whether a bitcoin transaction will ultimately confirm on the blockchain. Significantly, Bitnet takes financial liability for that decision. The 'Instant Approval' service relies on a number of data points, crucial to which are BlockCypher's double-spend detection and transaction propagation metrics. The new 'Instant Approval' service enables merchants to accept bitcoin within their existing checkout flows that are typically built around accepting card payments, where authorizations that guarantee funds are provided within seconds. "We are delighted to work with Bitnet," said Catheryne Nicholson, CEO at BlockCypher. "Their expertise in the intricacies of enterprise payments can unlock bitcoin's potential in very large-scale industries that experience a high volume of chargebacks." "One of the biggest challenges for merchants wanting to accept bitcoin is how to accommodate the delayed confirmation times into their 'real-time' checkout flows and still be assured of being funded," said Seamus Cushley, VP Product at Bitnet. "We partnered with BlockCypher to provide key data for our 'Instant Approval' service due to their best-in-class metrics and enterprise service." The two companies have been collaborating for the last six months to make this deal happen. It's an example of the philosophy both companies share of working together to collectively further the Bitcoin ecosystem, also echoed in Bitnet's core values: "If you want to travel fast, travel alone. If you want to travel far, travel together. Let's do this together." About Bitnet:Bitnet provides a digital commerce platform enabling enterprise-scale merchants to accept bitcoin payments. Bitnet's engineering, product, and business development team helped build and manage the world's largest payment gateway, CyberSource, which was sold to the world's largest payment network, Visa, for $2 billion in 2010. Bitnet has offices in San Francisco, California; Belfast, Northern Ireland; and Singapore. For more information visithttps://www.bitnet.io. About BlockCypher:BlockCypher helps companies easily build reliable block chain applications, exposing simple web APIs for developers to build on. BlockCypher runs multiple block chains on the same infrastructure, including their own block chain. BlockCypher provides a cloud-optimized enterprise-grade block chain platform with no single point of failure, linear scaling, and uptimes >99.99%. BlockCypher's office is in Redwood City, California. For more information, visithttp://www.blockcypher.com. \|\| Is Iran's Nuclear Agreement A Done Deal?: While it may seem like the hardest negotiations are over, the nuclear agreement made between Iranian officials and Western diplomats was only the beginning. Now the deal will be scrutinized around the world as the U.S. and its allies debate whether or not the agreement's benefits outweigh the risks. Republican Majority One arena where the deal islikely to face a lot of oppositionis U.S. Congress. As Republicans represent the majority in both the Senate and the House, there could be a lot of pushback against the nuclear deal during Congress' 60 day review period. However, in order to completely overturn the deal and ensure that it is not passed, Republicans would need to gain support from many of Congress' Democrats. Since the bill represents a major policy aim for Obama, who is backed by the Democrats, Republicans are unlikely to get the votes they need to kill the deal. Related Link:Is Russia Next To Adopt Bitcoin? Middle Eastern Worries The U.S. isn't the only place the deal faces opposition. In the Middle East, many of the U.S.' allies worry that the deal will give Iran too much power. While Iranian officials have promised to curb the nation's nuclear activities in accordance with new restrictions laid out in the agreement, Israeli Prime Minister Benjamin Netanyahu said that the financial power that relaxed sanctions will give Iran will spell disaster for the region. Netanyahu said he plans to lobby against the deal as he believes it will allow Iran to provide financial support to its allies, namely Syria. See more from Benzinga • Greece Receives Bailout Deal: Now What? • Can Greece's Latest Reform Proposal Be Trusted? • Greece To Plead Its Case At A Last-Chance Summit © 2015 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. \|\| Is Iran's Nuclear Agreement A Done Deal?: While it may seem like the hardest negotiations are over, the nuclear agreement made between Iranian officials and Western diplomats was only the beginning. Now the deal will be scrutinized around the world as the U.S. and its allies debate whether or not the agreement's benefits outweigh the risks. Republican Majority One arena where the deal is likely to face a lot of opposition is U.S. Congress. As Republicans represent the majority in both the Senate and the House, there could be a lot of pushback against the nuclear deal during Congress' 60 day review period. However, in order to completely overturn the deal and ensure that it is not passed, Republicans would need to gain support from many of Congress' Democrats. Since the bill represents a major policy aim for Obama, who is backed by the Democrats, Republicans are unlikely to get the votes they need to kill the deal. Related Link: Is Russia Next To Adopt Bitcoin? Middle Eastern Worries The U.S. isn't the only place the deal faces opposition. In the Middle East, many of the U.S.' allies worry that the deal will give Iran too much power. While Iranian officials have promised to curb the nation's nuclear activities in accordance with new restrictions laid out in the agreement, Israeli Prime Minister Benjamin Netanyahu said that the financial power that relaxed sanctions will give Iran will spell disaster for the region. Netanyahu said he plans to lobby against the deal as he believes it will allow Iran to provide financial support to its allies, namely Syria. See more from Benzinga Greece Receives Bailout Deal: Now What? Can Greece's Latest Reform Proposal Be Trusted? Greece To Plead Its Case At A Last-Chance Summit © 2015 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. \|\| Pot Breathalyzer To Make Marijuana Legalization Safer: With marijuana becoming legal in more and more states across the U.S., concerns about road safety have taken center stage. As regulations regarding how much alcohol can be safely consumed before driving have been hammered into the public eye for years, many worry that newly legalized pot rules need to be paid the same attention. However, in order for law enforcement agencies to uphold the rules governing marijuana consumption while driving, an easy system to test the amount of cannabis a driver has ingested is necessary. For that reason, many companies are working to come up with a device that can detect marijuana the way that traditional breathalyzers measure a driver's alcohol level. Prototype Cannabix Technologies Inc., a Canadian-based firm, says it isnearing the final stagesof developing a ‘pot breathalyzer". The device is still only a prototype, but once it becomes available for widespread use, it could revolutionize the way that police enforce marijuana laws. Related Link:Senate Considers Giving Marijuana Businesses Access To Banks Will It Be Accurate Enough? While the advent of a pot breathalyzer would be a major step forward for marijuana legalization, experts say it won't be accurate enough to be used on its own at first. The device would detect whether or not a person has THC, the psychoactive ingredient in cannabis, in their system, but probably wouldn't be able to tell just how much. More Research Needed So far, there has been no consensus regarding what amount of THC, if any, is safe for drivers. In Washington and Montana, drivers must have less than 5 nanograms/milliliter, though Pennsylvania allows just 1 ng/ml and some other states don't allow any amount of THC at all. See more from Benzinga • Is Russia Next To Adopt Bitcoin? • Cloudminr Hacking Scandal Reignites Skepticism Over Bitcoin • Can Marijuana Fight America's Drug Addiction? © 2015 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. \|\| Pot Breathalyzer To Make Marijuana Legalization Safer: With marijuana becoming legal in more and more states across the U.S., concerns about road safety have taken center stage. As regulations regarding how much alcohol can be safely consumed before driving have been hammered into the public eye for years, many worry that newly legalized pot rules need to be paid the same attention. However, in order for law enforcement agencies to uphold the rules governing marijuana consumption while driving, an easy system to test the amount of cannabis a driver has ingested is necessary. For that reason, many companies are working to come up with a device that can detect marijuana the way that traditional breathalyzers measure a driver's alcohol level. Prototype Cannabix Technologies Inc., a Canadian-based firm, says it is nearing the final stages of developing a ‘pot breathalyzer". The device is still only a prototype, but once it becomes available for widespread use, it could revolutionize the way that police enforce marijuana laws. Related Link: Senate Considers Giving Marijuana Businesses Access To Banks Will It Be Accurate Enough? While the advent of a pot breathalyzer would be a major step forward for marijuana legalization, experts say it won't be accurate enough to be used on its own at first. The device would detect whether or not a person has THC, the psychoactive ingredient in cannabis, in their system, but probably wouldn't be able to tell just how much. More Research Needed So far, there has been no consensus regarding what amount of THC, if any, is safe for drivers. In Washington and Montana, drivers must have less than 5 nanograms/milliliter, though Pennsylvania allows just 1 ng/ml and some other states don't allow any amount of THC at all. See more from Benzinga Is Russia Next To Adopt Bitcoin? Cloudminr Hacking Scandal Reignites Skepticism Over Bitcoin Can Marijuana Fight America's Drug Addiction? © 2015 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. \|\| Is Russia Next To Adopt Bitcoin?: This week, Russian President Vladimir Putingave his opinionon bitcoin to the public for the first time. Putin hasn't been open about his view on cryptocurrencies in the past, but on Russia 24, the nation's domestic TV network, Putin was optimistic about bitcoin's future possibilities. Putin Commends Bank Of Russia Putin remarked that the Bank of Russia's efforts to explore applications for bitcoin have been beneficial and that the nation may find future use for the technology. In his view, cryptocurrencies still have major reliability issues, but the technology they run on may be useful to facilitate transactions down the road. Related Link:Wedbush Predicts A Bright Future For Bitcoin Still Reliability Issues In his interview, he underlined the problems that bitcoin presents, saying that the fact that the currency isn't backed by anything represents a major issue with adopting cryptocurrencies. Though he said the nation isn't planning to reject cryptocurrencies, the issues related to using them can't be overlooked. Not A No Cryptocurrency enthusiasts took Putin's comments as a positive sign for the direction of digital currencies. Although he did not make any definitive statements regarding the Russian government's stance on using the currency, he appeared optimistic about the possibility of using blockchain in order to keep track of accounting records. Many had expected Putin to take a more firm stance against cryptocurrencies, so the fact that he didn't announce that they would be prohibited was considered a win. See more from Benzinga • Cloudminr Hacking Scandal Reignites Skepticism Over Bitcoin • Can Marijuana Fight America's Drug Addiction? • The Big Business Behind Fantasy Sports © 2015 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. \|\| Is Russia Next To Adopt Bitcoin?: This week, Russian President Vladimir Putin gave his opinion on bitcoin to the public for the first time. Putin hasn't been open about his view on cryptocurrencies in the past, but on Russia 24, the nation's domestic TV network, Putin was optimistic about bitcoin's future possibilities. Putin Commends Bank Of Russia Putin remarked that the Bank of Russia's efforts to explore applications for bitcoin have been beneficial and that the nation may find future use for the technology. In his view, cryptocurrencies still have major reliability issues, but the technology they run on may be useful to facilitate transactions down the road. Related Link: Wedbush Predicts A Bright Future For Bitcoin Still Reliability Issues In his interview, he underlined the problems that bitcoin presents, saying that the fact that the currency isn't backed by anything represents a major issue with adopting cryptocurrencies. Though he said the nation isn't planning to reject cryptocurrencies, the issues related to using them can't be overlooked. Not A No Cryptocurrency enthusiasts took Putin's comments as a positive sign for the direction of digital currencies. Although he did not make any definitive statements regarding the Russian government's stance on using the currency, he appeared optimistic about the possibility of using blockchain in order to keep track of accounting records. Many had expected Putin to take a more firm stance against cryptocurrencies, so the fact that he didn't announce that they would be prohibited was considered a win. See more from Benzinga Cloudminr Hacking Scandal Reignites Skepticism Over Bitcoin Can Marijuana Fight America's Drug Addiction? The Big Business Behind Fantasy Sports © 2015 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. View comments \|\| Is Russia Next To Adopt Bitcoin?: This week, Russian President Vladimir Putingave his opinionon bitcoin to the public for the first time. Putin hasn't been open about his view on cryptocurrencies in the past, but on Russia 24, the nation's domestic TV network, Putin was optimistic about bitcoin's future possibilities. Putin Commends Bank Of Russia Putin remarked that the Bank of Russia's efforts to explore applications for bitcoin have been beneficial and that the nation may find future use for the technology. In his view, cryptocurrencies still have major reliability issues, but the technology they run on may be useful to facilitate transactions down the road. Related Link:Wedbush Predicts A Bright Future For Bitcoin Still Reliability Issues In his interview, he underlined the problems that bitcoin presents, saying that the fact that the currency isn't backed by anything represents a major issue with adopting cryptocurrencies. Though he said the nation isn't planning to reject cryptocurrencies, the issues related to using them can't be overlooked. Not A No Cryptocurrency enthusiasts took Putin's comments as a positive sign for the direction of digital currencies. Although he did not make any definitive statements regarding the Russian government's stance on using the currency, he appeared optimistic about the possibility of using blockchain in order to keep track of accounting records. Many had expected Putin to take a more firm stance against cryptocurrencies, so the fact that he didn't announce that they would be prohibited was considered a win. See more from Benzinga • Cloudminr Hacking Scandal Reignites Skepticism Over Bitcoin • Can Marijuana Fight America's Drug Addiction? • The Big Business Behind Fantasy Sports © 2015 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. \|\| CCEDK and Bit-X Release Nanocard: The First True Crypto-Debit Card: CCEDK has announced that it is coming out with its own Bitcoin debit card BLOKHUS, DENMARK / ACCESSWIRE / July 13, 2015 /In addition to strictly storing the funds as Bitcoin or USD, the user will have the option to store their money as a BitShares BitAsset. Also referred to as SmartCoins, they would be pegged to the value of the dollar or another major currency. "A new generation of 2.0 coins is being used to address the volatility issue. BitShares' SmartCoins will be available as funding options for the NanoCard in the coming months, meaning that customer balances can be safely stored as crypto coins pegged to USD, EUR, CNY or even gold and silver, and converted only at the time of use," explained CEO Ronnie Boesing. This is a fundamentally lacking feature in many card programs available to Bitcoiners, although Bitreserve has come along way to deal with the problem of volatility. The new card will be called the NanoCard and will be broadly available to customers of the exchange beginning today. The NanoCard is a collaboration betweenDanish bitcoin exchange CCEDKandforex platform Bit-x, which aims to show how virtual currencies are finally coming of age. Ronnie Boesing believes that something like the NanoCard could be a "killer app" for Bitcoin, saying. "Bit-x, CCEDK, Cryptonomex, BitShares: each provides a part of the puzzle and the result is bitcoin's killer app." However, there are a number of other Bitcoin debit cards out there, including some that allow the user to receive part of their pay in Bitcoin, and then still have access to the funds for spending even after the conversion to bitcoin. Regardless, those atCCEDK were excited to releaseadebit cardfor their traders to make use of. According to CEO Mr. Boesing, "We have combined the strengths of digital currencies pioneered by bitcoin with the universal acceptance of major credit cards. It's the combination of technologies that makes the NanoCard so powerful. We are extremely proud to have partnered with Bit-x after just a year in business. The result is perhaps the world's first true crypto-debit card. No one can tell you how to use your own money and thanks to Bit-x this will be accepted everywhere." Additionally, CCEDK is partnering with Cryptonomex in order to provide new security measures to protect funds and trading. Part of what Cryptonomex will do is create auditing and transparency layers for CCEDK's customers to have an opportunity to verify what's on the exchange. Transparency is an element of strength for any exchange, as the Bitcoin community learned, through events like Mt. Gox, what a severe lack of transparency can do. "You won't have to worry about our exchange being hacked or whether it is honest or solvent," explains Boesing. Contact CCEDK \| Crypto Coins Exchange Denmark Aps: Ronny [email protected]ærvej 6, Hune, DK-9492 Blokhus Denmark SOURCE:CCEDK.com \|\| CCEDK and Bit-X Release Nanocard: The First True Crypto-Debit Card: CCEDK has announced that it is coming out with its own Bitcoin debit card BLOKHUS, DENMARK / ACCESSWIRE / July 13, 2015 / In addition to strictly storing the funds as Bitcoin or USD, the user will have the option to store their money as a BitShares BitAsset. Also referred to as SmartCoins, they would be pegged to the value of the dollar or another major currency. "A new generation of 2.0 coins is being used to address the volatility issue. BitShares' SmartCoins will be available as funding options for the NanoCard in the coming months, meaning that customer balances can be safely stored as crypto coins pegged to USD, EUR, CNY or even gold and silver, and converted only at the time of use," explained CEO Ronnie Boesing. This is a fundamentally lacking feature in many card programs available to Bitcoiners, although Bitreserve has come along way to deal with the problem of volatility. The new card will be called the NanoCard and will be broadly available to customers of the exchange beginning today. The NanoCard is a collaboration between Danish bitcoin exchange CCEDK and forex platform Bit-x , which aims to show how virtual currencies are finally coming of age. Ronnie Boesing believes that something like the NanoCard could be a "killer app" for Bitcoin, saying. "Bit-x, CCEDK, Cryptonomex, BitShares: each provides a part of the puzzle and the result is bitcoin's killer app." However, there are a number of other Bitcoin debit cards out there, including some that allow the user to receive part of their pay in Bitcoin, and then still have access to the funds for spending even after the conversion to bitcoin. Regardless, those at CCEDK were excited to r e lease a debit card for their traders to make use of. According to CEO Mr. Boesing, "We have combined the strengths of digital currencies pioneered by bitcoin with the universal acceptance of major credit cards. It's the combination of technologies that makes the NanoCard so powerful. We are extremely proud to have partnered with Bit-x after just a year in business. The result is perhaps the world's first true crypto-debit card. No one can tell you how to use your own money and thanks to Bit-x this will be accepted everywhere." Additionally, CCEDK is partnering with Cryptonomex in order to provide new security measures to protect funds and trading. Part of what Cryptonomex will do is create auditing and transparency layers for CCEDK's customers to have an opportunity to verify what's on the exchange. Transparency is an element of strength for any exchange, as the Bitcoin community learned, through events like Mt. Gox, what a severe lack of transparency can do. "You won't have to worry about our exchange being hacked or whether it is honest or solvent," explains Boesing. Story continues Contact CCEDK \| Crypto Coins Exchange Denmark Aps: Ronny Boesing +45-36-98-11-50 [email protected] Tyttebærvej 6, Hune, DK-9492 Blokhus Denmark SOURCE: CCEDK.com View comments \|\| Nuclear Bunker Data Center To Partner With BitShares: Debert, NS Canada / ACCESSWIRE / July 10, 2015 / Data Security Node Inc. (DSN) is a 64,000 sq/ft nuclear bunker data center located in Nova Scotia, Canada. DSN provides hosted services and unique value added offerings, and is announcing a partnership with Bitshares, a one of a kind decentralized smart contract platform. Together, they are introducing a number of crypto-asset driven solutions to help usher in a new age of financial freedom and transparency. Jonathan Baha’i, President of Data Security Node , explains, "We have come to a place, technologically, where a revolution is about to happen at all levels of society - thanks to a new breed of blockchain driven technologies. BitShares 2.0 is at the crest of this movement, and we are absolutely thrilled to be joining forces with them." The new partnership comes by way of a service offering from DSN called BunkerDEX which enables the exchange of crypto assets between multiple blockchains. Through the BitShares network, customers will be able to exchange virtual assets of all kinds, from popular crypto currencies like Bitcoin, to SmartCoins that hold the value of Dollars and Euro , to alternative banking solutions like bill and payment services that provide lower fees and less risk than most brick-and-mortar banks. "BunkerDEX will be the foundation for several offerings that connect to services from our bunker," Jonathan continues, "such as BunkerMining, The Canadian Rewards Debit, and S.A.F.E. (Synchronized Asset Futures Engine). We have some pretty amazing tools to work with now, thanks to the BitShares 2.0 platform." "Our nuclear bunker data center is the perfect place to host critical data, like financial transactions, that need a high level of protection," says Jonathan. "Most of us don’t expect nukes to fall from the sky any time soon, but the increasing appearance of natural disasters is actually a huge threat to data centers all around the world. Even data centers with sophisticated contingency planning have shown that they are helpless in the face of large scale natural disasters. For example, an Electromagnetic Pulse (EMP), either manmade or by solar flares, would instantly destroy the electronics in most data centers. Due to the sophisticated construction of our bunker, we are the only solution in Canada that provides protection from these types of threats." Story continues BunkerMining BunkerMining is a crypto mining pool that will soon pay miners in SmartCoins such as bitUSD and bitEuro, or by having real gold or silver drop-shipped to their door. BunkerMining will operate as a zero fee network thanks to the efficiencies it gains by operating through the BunkerDEX. Paying miners in stable cryptocurrencies or real world assets such as gold and silver will be an in-demand feature according to Jonathan. "Crypto miners have invested heavily in their operations, and have often been burned by the volatility (daily fluctuations in value) that crypto coins like Bitcoin experience. In fact lately, we have even seen volatility in the markets for many national fiat currencies. With BunkerMining however, miners will have the freedom to choose which currency (SmartCoin) to cash in their earnings, or even to bypass currencies altogether and opt instead for real gold and silver." Via the BunkerDEX, the BunkerMining operation will create a whole new index class that will be minable with the most popular hashing algorithms available. "This will be a game changer for miners," explained Jonathan. "The markets for various coins are constantly changing. Those that invest in mining hardware take on a risk that the value of the coins they mine today might not profit tomorrow. By using the BunkerMining pool, miners that use Scrypt mining rigs for example will also be able to benefit from increased value in Bitcoin, which is not a scrypt mined coin, as part of the index." "What’s even more exciting is the level of transparency we will be able to bring to our mining pool, and potentially our index could become another metric for measuring the current state of crypto," muses Jonathan. "Thanks to the support of the BitShares delegate system, during our initial growth phase we should be able to offer miners a higher ROI than anywhere else, and bonuses on payouts will constantly keep us among the most profitable mining pools." The Canadian Rewards Debit Thanks to the BitShares’ high capacity network, the BunkerDEX will enable anyone with a SmartPhone to cash their cheques, pay bills online, and send money to their friends and family in any SmartCoin they choose. "Historically, Canadians have been the earliest adopters of new electronic payment technologies," Jonathan recalls, "and we will appeal to them with a system that is convenient, easy to use, and secure - thanks to the decentralization of the BitShares network. Also, we have much lower overhead costs than a brick-and-mortar bank, so we will have much lower fees." DSN will provide secure gateway transactions that will enable Canadians to easily transact their everyday banking and purchases in Canada and around the world. BitShares is decentralized , so every account holder has sole access to their funds. Because of this, account holders can enjoy the convenience of everyday banking transactions without the risk of bank failure. Add this to the first of its kind referral program that will be built into BitShares 2.0, and marketing to Canadians will be a no brainer. Synchronized Assets Futures Engine (SAFE) Saving the best for last, Jonathan beams, "I have to say, I am most excited about the SAFE system we have created in tandem with Bunkershares, because it seems that technically we may have created an entirely new class of financial instrument. With the BitShares 2.0 network, we will be presenting a never before seen mechanism for online businesses to utilize. We think that SAFE has the potential to spur a whole new industry." To raise money for expanding operations, Data Security node will soon begin selling an asset called BunkerShares , which will be issued onto the BitShares Decentralized Exchange as User Issued Assets. SAFE will be a platform that provides businesses in high demand industries a way to raise money from investors without issuing securities. Instead, investors get to act as the middleman on every sale, and their investment is always protected against the potential for a liquidity crunch. Return on investment for SAFE "shareholders" in a company have the potential to be much higher than traditional securities instruments, and could be comparable to what an equity investment return would have in the short term. Through the BitShares network, all transactions are decentralized and made public, so the entire system can be audited at any time by any shareholder. They do this simply by using a SAFE company’s online shopping cart to make a purchase. SAFE aligns the incentives of investors and companies more harmoniously than traditional stocks, so investors in small businesses don’t have to wait years or longer for the chance to liquidate their holdings. "Because this is a brand new concept, we made a video ( SAFE Investment ) to help explain it in detail. In the video, we compare Wal-Mart gift cards to how SAFE can work for online businesses," Jonathan continues, "I am confident from the feedback from prospective investors thus far that this new financial instrument, backed by our technology, is going to gain traction in the coming year as companies seek to diversify their capital sources." "With our nuclear bunker data center utilizing the BitShares 2.0 platform, I see a bright future ahead for us." The BunkerShares 50 day sale will commence this fall, with the BunkerDEX following shortly afterwards. ### BunkerShares - www.bunkershares.ca Data Security Node - www.datasecuritynode.com BitShares - www.bitshares.org Cyptonomex - www.cryptonomex.com About Data Security Node Inc. From the nuclear bunker data center located in Debert, Nova Scotia, Canada, Data Security Node provides hosted solutions to companies and government organizations worldwide. Since cloud infrastructure often requires high levels of security, DSN provides the high end infrastructure necessary to compete in today’s marketplace. About BitShares The BitShares Decentralized Exchange is a peer-to-peer blockchain based asset exchange platform. It has done away with destabilizing practices like fractional reserve lending and order front running, and provided opportunity for people living in volatile regions of the world to hold their savings in a stable instrument of value. Similar to Bitcoin, the BitShares network cannot be breached or forced to shut down, and anyone running the free and open source software can participate. For more information or to start trading today, please visit Bitshares.org. About Cryptonomex, Inc. (BitShares core development) Cryptonomex provides software development services to meet the growing demand for custom, high-performance, blockchains and related technology. Our engineers have designed and built one of the most advanced blockchain architectures on the market, capable of processing over 100,000 transactions per second with an average confirmation time of less than 1 second. ### Contact Data Security Node Inc.: Jonathan Baha'i 800-784-0849 [email protected] Debert, Nova Scotia Source: Data Security Node Inc. \|\| Nuclear Bunker Data Center To Partner With BitShares: Debert, NS Canada / ACCESSWIRE / July 10, 2015 / Data Security Node Inc. (DSN) is a 64,000 sq/ft nuclear bunker data center located in Nova Scotia, Canada. DSN provides hosted services and unique value added offerings, and is announcing a partnership with Bitshares, a one of a kind decentralized smart contract platform. Together, they are introducing a number of crypto-asset driven solutions to help usher in a new age of financial freedom and transparency. Jonathan Baha’i, President of Data Security Node , explains, "We have come to a place, technologically, where a revolution is about to happen at all levels of society - thanks to a new breed of blockchain driven technologies. BitShares 2.0 is at the crest of this movement, and we are absolutely thrilled to be joining forces with them." The new partnership comes by way of a service offering from DSN called BunkerDEX which enables the exchange of crypto assets between multiple blockchains. Through the BitShares network, customers will be able to exchange virtual assets of all kinds, from popular crypto currencies like Bitcoin, to SmartCoins that hold the value of Dollars and Euro , to alternative banking solutions like bill and payment services that provide lower fees and less risk than most brick-and-mortar banks. "BunkerDEX will be the foundation for several offerings that connect to services from our bunker," Jonathan continues, "such as BunkerMining, The Canadian Rewards Debit, and S.A.F.E. (Synchronized Asset Futures Engine). We have some pretty amazing tools to work with now, thanks to the BitShares 2.0 platform." "Our nuclear bunker data center is the perfect place to host critical data, like financial transactions, that need a high level of protection," says Jonathan. "Most of us don’t expect nukes to fall from the sky any time soon, but the increasing appearance of natural disasters is actually a huge threat to data centers all around the world. Even data centers with sophisticated contingency planning have shown that they are helpless in the face of large scale natural disasters. For example, an Electromagnetic Pulse (EMP), either manmade or by solar flares, would instantly destroy the electronics in most data centers. Due to the sophisticated construction of our bunker, we are the only solution in Canada that provides protection from these types of threats." Story continues BunkerMining BunkerMining is a crypto mining pool that will soon pay miners in SmartCoins such as bitUSD and bitEuro, or by having real gold or silver drop-shipped to their door. BunkerMining will operate as a zero fee network thanks to the efficiencies it gains by operating through the BunkerDEX. Paying miners in stable cryptocurrencies or real world assets such as gold and silver will be an in-demand feature according to Jonathan. "Crypto miners have invested heavily in their operations, and have often been burned by the volatility (daily fluctuations in value) that crypto coins like Bitcoin experience. In fact lately, we have even seen volatility in the markets for many national fiat currencies. With BunkerMining however, miners will have the freedom to choose which currency (SmartCoin) to cash in their earnings, or even to bypass currencies altogether and opt instead for real gold and silver." Via the BunkerDEX, the BunkerMining operation will create a whole new index class that will be minable with the most popular hashing algorithms available. "This will be a game changer for miners," explained Jonathan. "The markets for various coins are constantly changing. Those that invest in mining hardware take on a risk that the value of the coins they mine today might not profit tomorrow. By using the BunkerMining pool, miners that use Scrypt mining rigs for example will also be able to benefit from increased value in Bitcoin, which is not a scrypt mined coin, as part of the index." "What’s even more exciting is the level of transparency we will be able to bring to our mining pool, and potentially our index could become another metric for measuring the current state of crypto," muses Jonathan. "Thanks to the support of the BitShares delegate system, during our initial growth phase we should be able to offer miners a higher ROI than anywhere else, and bonuses on payouts will constantly keep us among the most profitable mining pools." The Canadian Rewards Debit Thanks to the BitShares’ high capacity network, the BunkerDEX will enable anyone with a SmartPhone to cash their cheques, pay bills online, and send money to their friends and family in any SmartCoin they choose. "Historically, Canadians have been the earliest adopters of new electronic payment technologies," Jonathan recalls, "and we will appeal to them with a system that is convenient, easy to use, and secure - thanks to the decentralization of the BitShares network. Also, we have much lower overhead costs than a brick-and-mortar bank, so we will have much lower fees." DSN will provide secure gateway transactions that will enable Canadians to easily transact their everyday banking and purchases in Canada and around the world. BitShares is decentralized , so every account holder has sole access to their funds. Because of this, account holders can enjoy the convenience of everyday banking transactions without the risk of bank failure. Add this to the first of its kind referral program that will be built into BitShares 2.0, and marketing to Canadians will be a no brainer. Synchronized Assets Futures Engine (SAFE) Saving the best for last, Jonathan beams, "I have to say, I am most excited about the SAFE system we have created in tandem with Bunkershares, because it seems that technically we may have created an entirely new class of financial instrument. With the BitShares 2.0 network, we will be presenting a never before seen mechanism for online businesses to utilize. We think that SAFE has the potential to spur a whole new industry." To raise money for expanding operations, Data Security node will soon begin selling an asset called BunkerShares , which will be issued onto the BitShares Decentralized Exchange as User Issued Assets. SAFE will be a platform that provides businesses in high demand industries a way to raise money from investors without issuing securities. Instead, investors get to act as the middleman on every sale, and their investment is always protected against the potential for a liquidity crunch. Return on investment for SAFE "shareholders" in a company have the potential to be much higher than traditional securities instruments, and could be comparable to what an equity investment return would have in the short term. Through the BitShares network, all transactions are decentralized and made public, so the entire system can be audited at any time by any shareholder. They do this simply by using a SAFE company’s online shopping cart to make a purchase. SAFE aligns the incentives of investors and companies more harmoniously than traditional stocks, so investors in small businesses don’t have to wait years or longer for the chance to liquidate their holdings. "Because this is a brand new concept, we made a video ( SAFE Investment ) to help explain it in detail. In the video, we compare Wal-Mart gift cards to how SAFE can work for online businesses," Jonathan continues, "I am confident from the feedback from prospective investors thus far that this new financial instrument, backed by our technology, is going to gain traction in the coming year as companies seek to diversify their capital sources." "With our nuclear bunker data center utilizing the BitShares 2.0 platform, I see a bright future ahead for us." The BunkerShares 50 day sale will commence this fall, with the BunkerDEX following shortly afterwards. ### BunkerShares - www.bunkershares.ca Data Security Node - www.datasecuritynode.com BitShares - www.bitshares.org Cyptonomex - www.cryptonomex.com About Data Security Node Inc. From the nuclear bunker data center located in Debert, Nova Scotia, Canada, Data Security Node provides hosted solutions to companies and government organizations worldwide. Since cloud infrastructure often requires high levels of security, DSN provides the high end infrastructure necessary to compete in today’s marketplace. About BitShares The BitShares Decentralized Exchange is a peer-to-peer blockchain based asset exchange platform. It has done away with destabilizing practices like fractional reserve lending and order front running, and provided opportunity for people living in volatile regions of the world to hold their savings in a stable instrument of value. Similar to Bitcoin, the BitShares network cannot be breached or forced to shut down, and anyone running the free and open source software can participate. For more information or to start trading today, please visit Bitshares.org. About Cryptonomex, Inc. (BitShares core development) Cryptonomex provides software development services to meet the growing demand for custom, high-performance, blockchains and related technology. Our engineers have designed and built one of the most advanced blockchain architectures on the market, capable of processing over 100,000 transactions per second with an average confirmation time of less than 1 second. ### Contact Data Security Node Inc.: Jonathan Baha'i 800-784-0849 [email protected] Debert, Nova Scotia Source: Data Security Node Inc. \|\| Your first trade for Monday, July 13: The "Fast Money" traders gave their final trades of the day. Dan Nathan was a seller of PG(NYSE: PG). Josh Brown was a buyer of CME(NASDAQ: CME). Brian Kelly was a buyer of TSL(NYSE: TSL). Guy Adami was a buyer of JBLU(NASDAQ: JBLU). Trader disclosure: On July 10, 2015, the following stocks and commodities mentioned or intended to be mentioned on CNBC's "Fast Money" were owned by the "Fast Money" traders: Dan Nathan is longJPM July put spread, TJX Aug Put, TWTR, TWTR SEPT call spread, SO, INTC July put, LVS July Aug Put Spread, PG Aug Put, COST Aug put spread, WDAY July call fly, BA Sept put; he is short SO Aug call. Today he bought BA Sept put. Josh Brown is long AAPL, DE, DNKN, EBAY, FSLR, JMBA, SAM, SHAK, SPWR, TNET, TWTR, XLE, XON. Brian Kelly is long BBRY, BTC=; TAN, TLT, TSL, Canadian Dollar, Euro; Yuan, and Yen. Today he bought TSL.Guy Adami is long CELG, EXAS, INTC, Guy Adami's wife, Linda Snow, works at Merck. More From CNBC • Top News and Analysis • Latest News Video • Personal Finance \|\| Your first trade for Monday, July 13: The " Fast Money " traders gave their final trades of the day. Dan Nathan was a seller of PG (NYSE: PG) . Josh Brown was a buyer of CME (NASDAQ: CME) . Brian Kelly was a buyer of TSL (NYSE: TSL) . Guy Adami was a buyer of JBLU (NASDAQ: JBLU) . Trader disclosure: On July 10, 2015, the following stocks and commodities mentioned or intended to be mentioned on CNBC's "Fast Money" were owned by the "Fast Money" traders: Dan Nathan is long JPM July put spread, TJX Aug Put, TWTR, TWTR SEPT call spread, SO, INTC July put, LVS July Aug Put Spread, PG Aug Put, COST Aug put spread, WDAY July call fly, BA Sept put; he is short SO Aug call. Today he bought BA Sept put. Josh Brown is long AAPL, DE, DNKN, EBAY, FSLR, JMBA, SAM, SHAK, SPWR, TNET, TWTR, XLE, XON. Brian Kelly is long BBRY, BTC=; TAN, TLT, TSL, Canadian Dollar, Euro; Yuan, and Yen. Today he bought TSL.Guy Adami is long CELG, EXAS, INTC, Guy Adami's wife, Linda Snow, works at Merck. More From CNBC Top News and Analysis Latest News Video Personal Finance \|\| Cable & Wireless Obtains TV Licence in Anguilla: MIAMI, FL--(Marketwired - Jul 10, 2015) - Cable and Wireless Communications (C&W) which now operates Flow, the Caribbean's leading communications service provider, today announced that it has secured the broadcast licence to operate TV service in Anguilla. John Reid, President, C&W's Consumer Group said, "This is welcome news for our customers in Anguilla. Our successful merger with Columbus International Inc has facilitated the acceleration of our expanded portfolio from triple play to market leading quad play services." Reid also said, "We are delighted to have the opportunity to introduce the most advanced digital TV technology available today to the people of Anguilla. Our Advanced Video Service (AVS) provides state-of-the-art High Definition TV, Personal Cloud Video Recorder, parental control and allows viewers to watch TV on the go with the Flow To-Go app." According to the Consumer Group President, "The planned launch of this advanced video service in Anguilla will provide our viewers with the region's best TV experience and is set to transform the way people watch TV. It will be TV on demand, whenever, wherever and how the viewer wishes. Our ambition is to be number one with customers, and delivering world-class customer experiences is what we are all about." Dubbed, "TV you can control," Advanced Video Services is an extraordinary High Definition visual experience with over 60 HD channels available at no extra cost. AVS allows customers to: • Restart TV programmes from the beginning • Record all their favourite shows using the new Cloud Video recorder feature • Watch new blockbuster movies from the comfort of their homes with our Video OnDemand service • Monitor content via Advanced Parental controls • Access TV on the go through our Flow ToGo smartphone application Commenting on the approval of the TV licence and soon to be announced launch of TV services, Anguilla Country Manager, Matthieu Dion said, "Anguillans will benefit from the best content, service features and the most flexible options -- all accessible at home or on the go. All this is just a taste of the many innovations to come. We will deliver Anguilla's best TV service across the most advanced network, ensuring our customers experience the great services they so richly deserve." C&W will commence delivery of TV service in Anguilla by the end of the year. In 2014, C&W embarked on a US$7.4M network upgrade investment programme for Anguilla, as part of a wider regional investment strategy, called Project Marlin. About Cable & Wireless Communications: Cable & Wireless Communications Plc (CWC) is a full service communications and entertainment provider, operating in the Caribbean and Latin America. With annual sales of over $2.4 billion, it operates both mobile and fixed networks, supported by submarine and terrestrial optical fibre backhaul capacity. Through the acquisition of Columbus International Inc. on 31 March 2015, CWC now delivers superior high-speed mobile data, broadband and TV/video services. It has leading market positions in Mobile, Fixed Line, Broadband and TV consumer offers. Through its business division, CWC provides data centre hosting, domestic and international managed network services, and customised IT service solutions, utilising cloud technology to serve business and government customers. The company also operates a state-of-the-art subsea fibre optic cable network that spans more than 42,000 km -- the most extensive in the region -- as well as 38,000 km of terrestrial fibre providing wholesale and carrier backhaul capacity. CWC has more than 7,500 employees serving over 6 million customers (Mobile 3.8m; Fixed Line 1.1m ; TV 430k and Broadband 650k ) as well as over 125k corporate clients across 42 countries. The Company's leading brands include; LIME and Flow in the Caribbean; BTC in The Bahamas; Mas Movil in Panama; C&W Business and C&W Networks. CWC is the market leader in most products offered and territories served. It is a major contributor to local communities through its corporate social responsibility programmes. Cable & Wireless Communications' shares are quoted on the London Stock Exchange under the ticker CWC. The company is headquartered in London with its operational hub located in Miami, within close proximity to the Caribbean and Latin America. For more information visit:http://www.cwc.com \|\| Cable & Wireless Obtains TV Licence in Anguilla: MIAMI, FL--(Marketwired - Jul 10, 2015) - Cable and Wireless Communications (C&W) which now operates Flow, the Caribbean's leading communications service provider, today announced that it has secured the broadcast licence to operate TV service in Anguilla. John Reid, President, C&W's Consumer Group said, "This is welcome news for our customers in Anguilla. Our successful merger with Columbus International Inc has facilitated the acceleration of our expanded portfolio from triple play to market leading quad play services." Reid also said, "We are delighted to have the opportunity to introduce the most advanced digital TV technology available today to the people of Anguilla. Our Advanced Video Service (AVS) provides state-of-the-art High Definition TV, Personal Cloud Video Recorder, parental control and allows viewers to watch TV on the go with the Flow To-Go app." According to the Consumer Group President, "The planned launch of this advanced video service in Anguilla will provide our viewers with the region's best TV experience and is set to transform the way people watch TV. It will be TV on demand, whenever, wherever and how the viewer wishes. Our ambition is to be number one with customers, and delivering world-class customer experiences is what we are all about." Dubbed, "TV you can control," Advanced Video Services is an extraordinary High Definition visual experience with over 60 HD channels available at no extra cost. AVS allows customers to: Restart TV programmes from the beginning Record all their favourite shows using the new Cloud Video recorder feature Watch new blockbuster movies from the comfort of their homes with our Video OnDemand service Monitor content via Advanced Parental controls Access TV on the go through our Flow ToGo smartphone application Commenting on the approval of the TV licence and soon to be announced launch of TV services, Anguilla Country Manager, Matthieu Dion said, "Anguillans will benefit from the best content, service features and the most flexible options -- all accessible at home or on the go. All this is just a taste of the many innovations to come. We will deliver Anguilla's best TV service across the most advanced network, ensuring our customers experience the great services they so richly deserve." Story continues C&W will commence delivery of TV service in Anguilla by the end of the year. In 2014, C&W embarked on a US$7.4M network upgrade investment programme for Anguilla, as part of a wider regional investment strategy, called Project Marlin. About Cable & Wireless Communications: Cable & Wireless Communications Plc (CWC) is a full service communications and entertainment provider, operating in the Caribbean and Latin America. With annual sales of over $2.4 billion, it operates both mobile and fixed networks, supported by submarine and terrestrial optical fibre backhaul capacity. Through the acquisition of Columbus International Inc. on 31 March 2015, CWC now delivers superior high-speed mobile data, broadband and TV/video services. It has leading market positions in Mobile, Fixed Line, Broadband and TV consumer offers. Through its business division, CWC provides data centre hosting, domestic and international managed network services, and customised IT service solutions, utilising cloud technology to serve business and government customers. The company also operates a state-of-the-art subsea fibre optic cable network that spans more than 42,000 km -- the most extensive in the region -- as well as 38,000 km of terrestrial fibre providing wholesale and carrier backhaul capacity. CWC has more than 7,500 employees serving over 6 million customers (Mobile 3.8m; Fixed Line 1.1m ; TV 430k and Broadband 650k ) as well as over 125k corporate clients across 42 countries. The Company's leading brands include; LIME and Flow in the Caribbean; BTC in The Bahamas; Mas Movil in Panama; C&W Business and C&W Networks. CWC is the market leader in most products offered and territories served. It is a major contributor to local communities through its corporate social responsibility programmes. Cable & Wireless Communications' shares are quoted on the London Stock Exchange under the ticker CWC. The company is headquartered in London with its operational hub located in Miami, within close proximity to the Caribbean and Latin America. For more information visit: http://www.cwc.com [Social Media Buzz] In the last 10 mins, there were arb opps spanning 20 exchange pair(s), yielding profits ranging between $0.00 and $1,443.07 #bitcoin #btc \|\| #RDD / #BTC on the exchanges: Cryptsy: Error Bittrex: 0.00000005 Average $1.4E-5 per #reddcoin 22:00:01 \|\| buysellbitco.in #bitcoin price in INR, Buy : 17953.00 INR Sell : 17403.00 INR. Buy and sell bitcoin in #India using #buysellbitcoin \|\| FLOETRY offer $1.00 cash buys Bitcoins! http://phillyx.io/buy #Philadelphia #bitcoin #FLOETRYREUNIONTOUR \|\| buysellb...	274.90, 273.61, 278.98, 275.83, 277.22, 276.05, 288.28, 288.70, 292.69, 293.62
Given the historical Bitcoin prices from the last 90 days, predict the next 10 daily closing prices. The historical prices are: 10058.80, 9888.61, 10233.60, 10975.60, 11074.60, 11323.20, 11657.20, 11916.70, 14291.50, 17899.70, 16569.40, 15178.20, 15455.40, 16936.80, 17415.40, 16408.20, 16564.00, 17706.90, 19497.40, 19140.80, 19114.20, 17776.70, 16624.60, 15802.90, 13831.80, 14699.20, 13925.80, 14026.60, 16099.80, 15838.50, 14606.50, 14656.20, 12952.20, 14156.40, 13657.20, 14982.10, 15201.00, 15599.20, 17429.50, 17527.00, 16477.60, 15170.10, 14595.40, 14973.30, 13405.80, 13980.60, 14360.20, 13772.00, 13819.80, 11490.50, 11188.60, 11474.90, 11607.40, 12899.20, 11600.10, 10931.40, 10868.40, 11359.40, 11259.40, 11171.40, 11440.70, 11786.30, 11296.40, 10106.30, 10221.10, 9170.54, 8830.75, 9174.91, 8277.01, 6955.27, 7754.00, 7621.30, 8265.59, 8736.98, 8621.90, 8129.97, 8926.57, 8598.31, 9494.63, 10166.40, 10233.90, 11112.70, 10551.80, 11225.30, 11403.70, 10690.40, 10005.00, 10301.10, 9813.07, 9664.73.	[Bitcoin Technical Analysis for 2018-02-25] Volume: 5706939904, RSI (14-day): 46.41, 50-day EMA: 10702.80, 200-day EMA: 9047.78 [Wider Market Context] None available. [Recent News (last 7 days)] As Southwest Airlines Enters Hawaii, Alaska Airlines May Be the Biggest Loser: Southwest Airlines (NYSE: LUV) is steadily working through the regulatory process so that it can start flying to Hawaii near the end of 2018 or in early 2019. When its Hawaii service finally arrives, the biggest casualty probably won't be either of the current market leaders -- Hawaiian Holdings and United Continental . Instead, Alaska Air (NYSE: ALK) appears to be the most vulnerable carrier to Southwest's growth in Hawaii. An accidental leader in the California-Hawaii market A decade ago, Alaska Airlines had just begun flying to Hawaii from its core hubs in Seattle and Anchorage. However, the twin bankruptcies of Aloha Airlines and ATA Airlines within the span of a week in early 2008 created a massive void in the California-Hawaii air travel market, particularly outside of the big hubs, San Francisco and Los Angeles. Beginning in 2009, Alaska Airlines seized this opportunity by adding numerous routes to Hawaii from the top secondary markets in California. Today, it flies to Hawaii from Oakland, San Jose, Sacramento, and San Diego. (Meanwhile, Alaska Air's Virgin America subsidiary flies to Hawaii from San Francisco and Los Angeles.) A rendering of an Alaska Airlines jet flying over clouds Alaska Airlines capitalized on two 2008 airline bankruptcies to grow in Hawaii. Image source: Alaska Airlines. In total, flights to Hawaii -- mainly from California -- now account for 14% of Alaska's capacity. Alaska Airlines has particularly high market share from Oakland, San Jose, and San Diego to Hawaii. A formidable competitor is coming for this traffic Southwest Airlines CEO Gary Kelly has stated that the company plans to enter the Hawaii market with flights from one or two cities in California. Unfortunately for Alaska Airlines, Oakland and San Diego are two of the most logical Hawaii gateways for Southwest Airlines. Los Angeles, Oakland, and San Diego are Southwest's largest bases in California. The carrier currently operates between 115 and 130 daily departures at each of the three airports. However, while Southwest will probably fly from Los Angeles to Hawaii sooner or later, L.A. not quite as attractive a departure point for Hawaii flights as Oakland or San Diego for two reasons. Story continues First, Southwest Airlines controls just 13 gates in Los Angeles, which limits its ability to expand. This means that adding flights to Hawaii would come at the expense of flights to other cities, at least to some extent. Second, there are already five airlines flying from Los Angeles to Hawaii. By contrast, Alaska Airlines and Hawaiian Airlines are currently the only airlines offering scheduled service to Hawaii from Oakland and San Diego. A Southwest Airlines plane preparing to land, with mountains in the background Southwest Airlines may soon start flying from Oakland and San Diego to Hawaii. Image source: Southwest Airlines. Southwest absolutely dominates Oakland International Airport, with roughly 70% market share. As a result, it has a huge built-in customer base there. It will also be able to draw connecting traffic from the nearly three dozen other cities it serves nonstop from Oakland, whereas Alaska only offers flights to Hawaii and its Seattle and Portland hubs from Oakland. Alaska Airlines has a more defensible position in San Diego, where it operates about 40 flights a day. Still, Southwest has nearly three times as many flights there and a commanding market share of nearly 40%. This will give it a natural advantage in competing for Hawaii-bound traffic. Will Alaska Airlines retreat? As noted above, Southwest Airlines' strong market position in Oakland and San Diego should give it a revenue-production advantage over Alaska if it flies from those cities to Hawaii. Southwest will also have a unit cost advantage due to its somewhat denser seating configuration, purchasing scale, and overall cost discipline. In recent months, Alaska Air's management has emphasized that it will be aggressive in cutting capacity when necessary to improve profitability. In the long run, Alaska may significantly reduce its capacity from California to Hawaii if Southwest's growth puts too much pressure on pricing and load factors. Alaska Airlines could even exit the Oakland-Hawaii market entirely, as it doesn't seem to have a competitive advantage there relative to Southwest Airlines. The good news for Alaska Air shareholders is that the company's acquisition of Virgin America has given it a strong foothold in San Francisco and Los Angeles. As a result, Alaska Airlines should have plenty of options for profitably redeploying planes that are no longer needed for flights to Hawaii in the coming years. More From The Motley Fool 3 Growth Stocks at Deep-Value Prices 5 Expected Social Security Changes in 2018 6 Years Later, 6 Charts That Show How Far Apple, Inc. Has Come Since Steve Jobs' Passing 10 Best Stocks to Buy Today The $16,122 Social Security Bonus You Cannot Afford to Miss Bitcoin's Biggest Competitor Isn't Ethereum -- It's This Adam Levine-Weinberg owns shares of Alaska Air Group and Hawaiian Holdings. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy . \|\| As Southwest Airlines Enters Hawaii, Alaska Airlines May Be the Biggest Loser: Southwest Airlines(NYSE: LUV)is steadilyworking through the regulatory processso that it can start flying to Hawaii near the end of 2018 or in early 2019. When its Hawaii service finally arrives, the biggest casualty probably won't be either of the current market leaders --Hawaiian HoldingsandUnited Continental. Instead,Alaska Air(NYSE: ALK)appears to be the most vulnerable carrier to Southwest's growth in Hawaii. A decade ago, Alaska Airlines had just begun flying to Hawaii from its core hubs in Seattle and Anchorage. However, the twin bankruptcies of Aloha Airlines and ATA Airlines within the span of a week in early 2008 created a massive void in the California-Hawaii air travel market, particularly outside of the big hubs, San Francisco and Los Angeles. Beginning in 2009, Alaska Airlines seized this opportunity by adding numerous routes to Hawaii from the top secondary markets in California. Today, it flies to Hawaii from Oakland, San Jose, Sacramento, and San Diego. (Meanwhile, Alaska Air's Virgin America subsidiary flies to Hawaii from San Francisco and Los Angeles.) Alaska Airlines capitalized on two 2008 airline bankruptcies to grow in Hawaii. Image source: Alaska Airlines. In total, flights to Hawaii -- mainly from California -- now account for 14% of Alaska's capacity. Alaska Airlines has particularly high market share from Oakland, San Jose, and San Diego to Hawaii. Southwest Airlines CEO Gary Kelly has stated that the company plans to enter the Hawaii market with flights from one or two cities in California. Unfortunately for Alaska Airlines, Oakland and San Diego aretwo of the most logical Hawaii gatewaysfor Southwest Airlines. Los Angeles, Oakland, and San Diego are Southwest's largest bases in California. The carrier currently operates between 115 and 130 daily departures at each of the three airports. However, while Southwest will probably fly from Los Angeles to Hawaii sooner or later, L.A. not quite as attractive a departure point for Hawaii flights as Oakland or San Diego for two reasons. First, Southwest Airlines controls just 13 gates in Los Angeles, which limits its ability to expand. This means that adding flights to Hawaii would come at the expense of flights to other cities, at least to some extent. Second, there are already five airlines flying from Los Angeles to Hawaii. By contrast, Alaska Airlines and Hawaiian Airlines are currently the only airlines offering scheduled service to Hawaii from Oakland and San Diego. Southwest Airlines may soon start flying from Oakland and San Diego to Hawaii. Image source: Southwest Airlines. Southwest absolutely dominates Oakland International Airport, with roughly 70% market share. As a result, it has a huge built-in customer base there. It will also be able to draw connecting traffic from the nearly three dozen other cities it serves nonstop from Oakland, whereas Alaska only offers flights to Hawaii and its Seattle and Portland hubs from Oakland. Alaska Airlines has a more defensible position in San Diego, where it operates about 40 flights a day. Still, Southwest has nearly three times as many flights there and a commanding market share of nearly 40%. This will give it a natural advantage in competing for Hawaii-bound traffic. As noted above, Southwest Airlines' strong market position in Oakland and San Diego should give it a revenue-production advantage over Alaska if it flies from those cities to Hawaii. Southwest will also have a unit cost advantage due to its somewhat denser seating configuration, purchasing scale, and overall cost discipline. In recent months, Alaska Air's management has emphasized that it will be aggressive in cutting capacity when necessary to improve profitability. In the long run, Alaska may significantly reduce its capacity from California to Hawaii if Southwest's growth puts too much pressure on pricing and load factors. Alaska Airlines could even exit the Oakland-Hawaii market entirely, as it doesn't seem to have a competitive advantage there relative to Southwest Airlines. The good news for Alaska Air shareholders is that the company's acquisition of Virgin America has given it a strong foothold in San Francisco and Los Angeles. As a result, Alaska Airlines should have plenty of options for profitably redeploying planes that are no longer needed for flights to Hawaii in the coming years. More From The Motley Fool • 3 Growth Stocks at Deep-Value Prices • 5 Expected Social Security Changes in 2018 • 6 Years Later, 6 Charts That Show How Far Apple, Inc. Has Come Since Steve Jobs' Passing • 10 Best Stocks to Buy Today • The $16,122 Social Security Bonus You Cannot Afford to Miss • Bitcoin's Biggest Competitor Isn't Ethereum -- It's This Adam Levine-Weinbergowns shares of Alaska Air Group and Hawaiian Holdings. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has adisclosure policy. \|\| These 3 Dividend Stocks Offer Shares at a Discount: Dividend stocks can help investors benefit from the power of compounding. By reinvesting dividend payments to purchase additional shares of stock, you'll see the amount of income you receive grow over time, building on itself and creating a positive-feedback loop that can eventually produce huge amounts of income. Many brokers offer the ability to reinvest dividends in additional shares. However, in some special situations, using a dividend reinvestment plan (DRIP) directly from the company itself can give you the ability to get a discount on the shares that you purchase with your dividend income. In particular,Aqua America(NYSE: WTR),Franco-Nevada(NYSE: FNV), andStudent Transportation(NASDAQ: STB)are three stocks that you can buy more cheaply through dividend reinvestment than you'll get on the open market. [{"Stock": "Aqua America", "Current Dividend Yield": "2.4%", "Discount on DRIP Purchases": "5%"}, {"Stock": "Franco-Nevada", "Current Dividend Yield": "1.3%", "Discount on DRIP Purchases": "3%"}, {"Stock": "Student Transportation", "Current Dividend Yield": "7%", "Discount on DRIP Purchases": "3%"}] Data source: Yahoo! Finance, company investor-relations websites. Many dividend investors turn to utility stocks for reliable streams of dividend income, and the water-utility area is one that features constant demand for customers and dependable levels of earnings.Aqua Americais one of the biggest water utilities in the U.S. and it gets more than 97% of its revenue from its regulated water-utility business. Aqua America has also moved into the potentially lucrative area of providing water to natural gas exploration-and-production companies, whose needs for water for hydraulic-fracturing operations have provided demand for services from utility companies with the expertise and capacity to provide it. The joint venture in which Aqua America participates has struggled due to poor performance in the energy sector in recent years, but a bounce could make that part of the business more lucrative. Aqua America features a dividend yield of 2.4%. Under the company's current plan, investors can participate in its dividend reinvestment and direct stock purchase plan and have cash dividends reinvested in additional shares of stock at a 5% discount. With no commissions or trading fees for purchase and the ability to own fractional shares, investors can be assured that all of their funds go toward purchasing stock. Image source: Aqua America. In the precious-metals arena, Franco-Nevada offers an unusual way to profit from mining activities.Franco-Nevada isn't a miner, but it provides financing to mining-company clients, obtaining streams of produced gold, silver, and other metals in exchange for the capital that they provide. More recently, Franco-Nevada has started to diversify away from its formerly exclusive emphasis on precious metals to boost its exposure to oil and gas interests, purchasing royalties on energy production in exchange for upfront capital. Franco-Nevada's current dividend yield of 1.3% might not look all that impressive, but the streaming specialist has boosted its annual payouts every year for a decade. It's only the huge gains in the stock over that time that have kept its yield down. Moreover, participants in the company's dividend-reinvestment program can get a 3% discount on the shares they purchase with their dividend income. That could help produce even greater gains for long-term shareholders who believe in the mining financier's prospects. One constant in the education world is the need for school buses, and Student Transportation offers managed and contracted school-bus services, as well as special-needs transportation and charter services for students and educational institutions. The company stands out as one of the rarified set of stocks that paymonthly dividends to their shareholders, and its current yield of more than 7% reflects the reliable demand from Student Transportation's public-sector clients. Unlike some dividend reinvestment plans, the Student Transportation plan technically requires U.S. shareholders to be institutional accredited investors in order to participate. However, the website urges shareholders to contact brokers in order to get the benefits of participation, which currently include a 3% discount on shares purchased with reinvested dividend income. It's important to understand that being able to invest dividends for discounted shares doesn't justify investing in a stock that you don't believe in. But if you like the company anyway, picking up a discount on shares by reinvesting dividends is a great way to make your investment dollars work a little bit harder for you. Take a look at the companies you like, and see if they offer their own discounts through dividend reinvestment plans. More From The Motley Fool • 3 Growth Stocks at Deep-Value Prices • 5 Expected Social Security Changes in 2018 • 6 Years Later, 6 Charts That Show How Far Apple, Inc. Has Come Since Steve Jobs' Passing • 10 Best Stocks to Buy Today • The $16,122 Social Security Bonus You Cannot Afford to Miss • Bitcoin's Biggest Competitor Isn't Ethereum -- It's This Dan Caplingerhas no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has adisclosure policy. \|\| Is Trump Breaking His Medical Marijuana Promise?: In recent years, the United States has been a breeding ground for rapid marijuana sales growth. According to Marijuana Business Daily 's report, "Marijuana Business Factbook 2017," U.S. sales were forecast to grow by an estimated 30% in 2017, 45% in 2018, and by an aggregate of 300% to approximately $17 billion annually between 2016 and 2021. Consumer opinion has been a major reason for the rapid rise in cannabis sales. Just over two decades ago, Gallup found that just a quarter of the population favored the idea of legalizing recreational pot. By October 2017, favorability had catapulted to nearly two out of three Americans, representing an all-time high over a nearly five-decade stretch of polling. A person holding cannabis leaves in their cupped hands. Image source: Getty Images. The cannabis industry's ceiling is limited in the U.S. by its scheduling Yet, in spite of this rapid sales growth, the steady increase in favorability among the public, and the 29 states that legalized marijuana in some capacity, the ceiling for the U.S. pot industry is quite low. The reason? Look no further than restrictive federal laws. Whereas medicinal marijuana is legal in Canada, Mexico, and a growing number of countries throughout the world, it remains entirely illegal in the United States. As a schedule I substance, marijuana is put on par with heroin and LSD, is viewed as being highly prone to abuse, and isn't recognized as having any medical benefits. This schedule I classification makes life very difficult for cannabis companies and medical weed patients alike. Pot-based companies often have very minimal access to basic banking services, with many struggling just to open a checking account. Similarly, they can pay an effective tax rate of up to 90%, if profitable, due to tax code 280E disallowing businesses that sell a federally illegal substance from taking normal corporate income-tax deductions. Meanwhile, patients suffer due to the copious amounts of red tape surrounding clinical studies involving medical marijuana. There's just one approved grow facility in the U.S. the University of Mississippi which makes it difficult for researchers to conduct the studies congressional lawmakers would require before reconsidering weed's scheduling. Story continues Jeff Sessions addressing an audience. Jeff Sessions addressing an audience. Image source: Jeff Sessions' Senate webpage. Jeff Sessions: Enemy No. 1 of the marijuana industry? Truth be told, there are a laundry list of reasons why investing in marijuana in the U.S. is a downright sadistic idea, beyond just the business disadvantages described above. But one stands out from the rest. Namely, I'm talking about Attorney General Jeff Sessions. It's no secret that Sessions isn't a supporter of marijuana's expansion not even in the teensiest of ways. He's railed against the drug before by claiming that "no good people smoke marijuana," and has completely debunked the idea that the opioid crisis can be fought by prescribing or legalizing cannabis instead of opioids to treat pain. But his actions speak even louder than his words. Last year, Sessions sent a letter to a handful of his congressional colleagues requesting that the Rohrabacher-Farr Amendment (also known as Rohrabacher-Blumenauer) be repealed. This amendment is included with each federal spending bill and, if passed, disallows the Justice Department from using federal dollars to prosecute medical marijuana businesses operating in states that legalized medical weed. Though Sessions has been unsuccessful in his efforts to remove this amendment, his intentions are clear. More recently, on Jan. 4, 2018, Sessions announced that he'd be rescinding the Cole memo . This memo, crafted by former Deputy Attorney General James Cole in August 2013, outlines a series of loose "rules" that states would abide by in order to keep the federal government off their backs. Examples include keeping grown cannabis within a state's borders and ensuring that adolescents are kept away from accessing marijuana. The removal of this memo opens the door for state-level prosecutors to bring marijuana charges against businesses or people, even in legalized states, with discretion. Donald Trump addressing Congress. Image source: President Donald J. Trump's official Facebook page. Photo by Shealah Craighead. President Trump may be reversing his stance on medical marijuana Yet, for as anti-cannabis as Sessions has been, the industry has continued to expand nonetheless. President Trump, though, can exert far more power and influence than Jeff Sessions, and in recent weeks he's demonstrated that he, not Sessions, may be the biggest enemy of the pot industry. During his campaign, Donald Trump came across as a general supporter of cannabis, or at the very least someone who was intrigued about learning more. He was quoted as saying he was " 100 percent " behind the idea of legalizing medical marijuana and suggested that he'd need to look into recreational cannabis more before leaning one way or another. While that may not be the overwhelming support legalization enthusiasts wanted to hear, it looked as if America was getting its first cannabis-progressive president.However, those promises of support for medical cannabis have been for naught. To begin with, Trump was the person who nominated Sessions to be attorney general, knowing full well that he'd been an ardent opponent of expansion during his time in the Senate. Even more telling is what's happened of late with Israel's ambitions of launching a medical marijuana export industry. Israel, which legalized medical cannabis in the 1990s, is looking for new ways to generate revenue, with an Israeli government report suggesting that exporting cannabis would bring in between $285 million and $1.14 billion a year. The U.S. was deemed as Israel's prime export destination. A cannabis bud atop a doctor's prescription pad. Image source: Getty Images. Unfortunately for Israel, those plans have been put on hold. The Times of Israel reported earlier this month that Israeli Prime Minister Benjamin Netanyahu halted plans to export medical cannabis to the U.S. as a means to placate President Trump, who has viewed the expansion of the U.S. cannabis industry with disdain. If Trump truly supported the domestic medical cannabis industry, it would seem logical he would support the importation of medical weed from an ally. Netanyahu's comments suggest the possibility that Trump's beliefs on pot may more closely align with Jeff Sessions than anyone realizes. As much as legalization enthusiasts wanted to believe Trump's medical cannabis ambitions, it's looking more likely that he's actually an opponent, not a proponent, of marijuana. That should raise red flags for anyone thinking of investing in U.S. marijuana stocks. More From The Motley Fool 3 Growth Stocks at Deep-Value Prices 5 Expected Social Security Changes in 2018 6 Years Later, 6 Charts That Show How Far Apple, Inc. Has Come Since Steve Jobs' Passing 10 Best Stocks to Buy Today The $16,122 Social Security Bonus You Cannot Afford to Miss Bitcoin's Biggest Competitor Isn't Ethereum -- It's This The Motley Fool has a disclosure policy . \|\| These 3 Dividend Stocks Offer Shares at a Discount: Dividend stocks can help investors benefit from the power of compounding. By reinvesting dividend payments to purchase additional shares of stock, you'll see the amount of income you receive grow over time, building on itself and creating a positive-feedback loop that can eventually produce huge amounts of income. Many brokers offer the ability to reinvest dividends in additional shares. However, in some special situations, using a dividend reinvestment plan (DRIP) directly from the company itself can give you the ability to get a discount on the shares that you purchase with your dividend income. In particular, Aqua America (NYSE: WTR) , Franco-Nevada (NYSE: FNV) , and Student Transportation (NASDAQ: STB) are three stocks that you can buy more cheaply through dividend reinvestment than you'll get on the open market. Stock Current Dividend Yield Discount on DRIP Purchases Aqua America 2.4% 5% Franco-Nevada 1.3% 3% Student Transportation 7% 3% Data source: Yahoo! Finance, company investor-relations websites. Aqua America Many dividend investors turn to utility stocks for reliable streams of dividend income, and the water-utility area is one that features constant demand for customers and dependable levels of earnings. Aqua America is one of the biggest water utilities in the U.S. and it gets more than 97% of its revenue from its regulated water-utility business. Aqua America has also moved into the potentially lucrative area of providing water to natural gas exploration-and-production companies, whose needs for water for hydraulic-fracturing operations have provided demand for services from utility companies with the expertise and capacity to provide it. The joint venture in which Aqua America participates has struggled due to poor performance in the energy sector in recent years, but a bounce could make that part of the business more lucrative. Aqua America features a dividend yield of 2.4%. Under the company's current plan, investors can participate in its dividend reinvestment and direct stock purchase plan and have cash dividends reinvested in additional shares of stock at a 5% discount. With no commissions or trading fees for purchase and the ability to own fractional shares, investors can be assured that all of their funds go toward purchasing stock. Story continues Worker with hard hat probing a water treatment plant collection pool. Image source: Aqua America. Franco-Nevada In the precious-metals arena, Franco-Nevada offers an unusual way to profit from mining activities. Franco-Nevada isn't a miner , but it provides financing to mining-company clients, obtaining streams of produced gold, silver, and other metals in exchange for the capital that they provide. More recently, Franco-Nevada has started to diversify away from its formerly exclusive emphasis on precious metals to boost its exposure to oil and gas interests, purchasing royalties on energy production in exchange for upfront capital. Franco-Nevada's current dividend yield of 1.3% might not look all that impressive, but the streaming specialist has boosted its annual payouts every year for a decade. It's only the huge gains in the stock over that time that have kept its yield down. Moreover, participants in the company's dividend-reinvestment program can get a 3% discount on the shares they purchase with their dividend income. That could help produce even greater gains for long-term shareholders who believe in the mining financier's prospects. Student Transportation One constant in the education world is the need for school buses, and Student Transportation offers managed and contracted school-bus services, as well as special-needs transportation and charter services for students and educational institutions. The company stands out as one of the rarified set of stocks that pay monthly dividends to their shareholders , and its current yield of more than 7% reflects the reliable demand from Student Transportation's public-sector clients. Unlike some dividend reinvestment plans, the Student Transportation plan technically requires U.S. shareholders to be institutional accredited investors in order to participate. However, the website urges shareholders to contact brokers in order to get the benefits of participation, which currently include a 3% discount on shares purchased with reinvested dividend income. Get dividend discounts It's important to understand that being able to invest dividends for discounted shares doesn't justify investing in a stock that you don't believe in. But if you like the company anyway, picking up a discount on shares by reinvesting dividends is a great way to make your investment dollars work a little bit harder for you. Take a look at the companies you like, and see if they offer their own discounts through dividend reinvestment plans. More From The Motley Fool 3 Growth Stocks at Deep-Value Prices 5 Expected Social Security Changes in 2018 6 Years Later, 6 Charts That Show How Far Apple, Inc. Has Come Since Steve Jobs' Passing 10 Best Stocks to Buy Today The $16,122 Social Security Bonus You Cannot Afford to Miss Bitcoin's Biggest Competitor Isn't Ethereum -- It's This Dan Caplinger has no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy . \|\| Is Trump Breaking His Medical Marijuana Promise?: In recent years, the United States has been a breeding ground for rapid marijuana sales growth. According toMarijuana Business Daily's report, "Marijuana Business Factbook 2017," U.S. sales were forecast to grow by an estimated 30% in 2017, 45% in 2018, and by an aggregate of 300% to approximately $17 billion annually between 2016 and 2021. Consumer opinion has been a major reason for the rapid rise in cannabis sales. Just over two decades ago, Gallup found that just a quarter of the population favored the idea of legalizing recreational pot. By October 2017, favorability had catapulted to nearly two out of three Americans, representing anall-time highover a nearly five-decade stretch of polling. Image source: Getty Images. Yet, in spite of this rapid sales growth, the steady increase in favorability among the public, and the 29 states that legalized marijuana in some capacity, the ceiling for the U.S. pot industry is quite low. The reason? Look no further than restrictive federal laws. Whereas medicinal marijuana is legal in Canada, Mexico, and a growing number of countries throughout the world, it remains entirely illegal in the United States. As a schedule I substance, marijuana is put on par with heroin and LSD, is viewed as being highly prone to abuse, and isn't recognized as having any medical benefits. This schedule I classification makes life very difficult for cannabis companies and medical weed patients alike. Pot-based companies often have very minimal access to basic banking services, with many struggling just to open a checking account. Similarly, they can pay an effective tax rate of up to 90%, if profitable, due to tax code 280E disallowing businesses that sell a federally illegal substance from taking normal corporate income-tax deductions. Meanwhile, patients suffer due to the copious amounts of red tape surrounding clinical studies involving medical marijuana. There's just one approved grow facility in the U.S. – the University of Mississippi – which makes it difficult for researchers to conduct the studies congressional lawmakers would require before reconsidering weed's scheduling. Jeff Sessions addressing an audience. Image source: Jeff Sessions' Senate webpage. Truth be told, there are alaundry list of reasonswhy investing in marijuana in the U.S. is a downright sadistic idea, beyond just the business disadvantages described above. But one stands out from the rest. Namely, I'm talking about Attorney General Jeff Sessions. It's no secret that Sessions isn't a supporter of marijuana's expansion – not even in the teensiest of ways. He's railed against the drug before by claiming that "no good people smoke marijuana," and has completelydebunked the ideathat the opioid crisis can be fought by prescribing or legalizing cannabis instead of opioids to treat pain. But his actions speak even louder than his words. Last year, Sessions sent a letter to a handful of his congressional colleagues requesting that the Rohrabacher-Farr Amendment (also known as Rohrabacher-Blumenauer) be repealed. This amendment is included with each federal spending bill and, if passed, disallows the Justice Department from using federal dollars to prosecute medical marijuana businesses operating in states that legalized medical weed. Though Sessions has been unsuccessful in his efforts to remove this amendment, his intentions are clear. More recently, on Jan. 4, 2018, Sessions announced that he'd berescinding the Cole memo. This memo, crafted by former Deputy Attorney General James Cole in August 2013, outlines a series of loose "rules" that states would abide by in order to keep the federal government off their backs. Examples include keeping grown cannabis within a state's borders and ensuring that adolescents are kept away from accessing marijuana. The removal of this memo opens the door for state-level prosecutors to bring marijuana charges against businesses or people, even in legalized states, with discretion. Image source: President Donald J. Trump's official Facebook page. Photo by Shealah Craighead. Yet, for as anti-cannabis as Sessions has been, the industry has continued to expand nonetheless. President Trump, though, can exert far more power and influence than Jeff Sessions, and in recent weeks he's demonstrated that he, not Sessions, may be the biggest enemy of the pot industry. During his campaign, Donald Trump came across as a general supporter of cannabis, or at the very least someone who was intrigued about learning more. He was quoted as saying he was "100 percent" behind the idea of legalizing medical marijuana and suggested that he'd need to look into recreational cannabis more before leaning one way or another. While that may not be the overwhelming support legalization enthusiasts wanted to hear, it looked as if America was getting its first cannabis-progressive president.However, those promises of support for medical cannabis have been for naught. To begin with, Trump was the person who nominated Sessions to be attorney general, knowing full well that he'd been an ardent opponent of expansion during his time in the Senate. Even more telling is what's happened of late with Israel's ambitions of launching a medical marijuana export industry. Israel, which legalized medical cannabis in the 1990s, is looking for new ways to generate revenue, with an Israeli government report suggesting that exporting cannabis would bring in between $285 million and $1.14 billion a year. The U.S. was deemed as Israel's prime export destination. Image source: Getty Images. Unfortunately for Israel, those plans have been put on hold. TheTimes of Israelreported earlier this month that Israeli Prime Minister Benjamin Netanyahu halted plans to export medical cannabis to the U.S. as a means to placate President Trump, who has viewed the expansion of the U.S. cannabis industry with disdain. If Trump truly supported the domestic medical cannabis industry, it would seem logical he would support the importation of medical weed from an ally. Netanyahu's comments suggest the possibility that Trump's beliefs on pot may more closely align with Jeff Sessions than anyone realizes. As much as legalization enthusiasts wanted to believe Trump's medical cannabis ambitions, it's looking more likely that he's actually an opponent, not a proponent, of marijuana. That should raise red flags for anyone thinking of investing in U.S. marijuana stocks. More From The Motley Fool • 3 Growth Stocks at Deep-Value Prices • 5 Expected Social Security Changes in 2018 • 6 Years Later, 6 Charts That Show How Far Apple, Inc. Has Come Since Steve Jobs' Passing • 10 Best Stocks to Buy Today • The $16,122 Social Security Bonus You Cannot Afford to Miss • Bitcoin's Biggest Competitor Isn't Ethereum -- It's This The Motley Fool has adisclosure policy. \|\| Boeing Hedges Its Bet in MQ-25 Drone Competition: Boeing(NYSE: BA)earlier this month signed on to help privately held General Atomics in the competition to build the U.S. Navy's MQ-25 Stingray tanker drone, even as Boeing has its own competing design in the competition. The reasoning behind Boeing's surprising decision to hedge its bets provides some insight into the company's long-term thinking and goes well beyond one program. Boeing, General Atomics, andLockheed Martin(NYSE: LMT)in January all submitted bids to build what the Navy describes as an aerial refueling tanker drone, and General Atomics on Feb. 12 announced a group of partners includingUnited Technologies,L-3 Communications, andBAE Systems, along with Boeing. Specifically, General Atomics will lean on Boeing Autonomous Systems for what was described as "aviation and autonomous experience" on its drone, which is expected to be based on its Avenger model. Boeing's entry into the MQ-25 competition. Image source: Boeing. The partnership won't stop Boeing from entering its own competitor into a competition that could be worth billions depending on how many units the Navy eventually decides to order. Despite the potential size of the contract, the Stingray would appear at first glance to be an odd one for Boeing to double down on. The Navy appears in no rush to get the eventual winner into production, projecting just four MQ-25 deliveries by fiscal 2023 in its recently released budget projections, and the Pentagon has made no firm commitment to buy the full 72 aircraft initially envisioned. Further, the government has seemed uncertain at times about what it needs the Stringray to do, and whether the drone would be primarily just for refueling or also be used for surveillance and intelligence gathering. With all the uncertainty,Northrop Grumman, which was initially viewed as one of the favorites in the competition, last October went the opposite direction from Boeing anddropped out of the competition. For Boeing, participation in the MQ-25 program seems to be about a lot more than selling a few drones. It's an incumbent manufacturer in a sector where new technologies threaten to disrupt the status quo, making sure it has a seat at the table for whatever comes next. Boeing has a lot to offer whoever the eventual winner is,given its leading role as a provider of Air Force refueling tankersand its generations of experience working with catapult launch and recovery systems on aircraft carriers. But ever since the company's X-32 design lost out to Lockheed Martin's F-35 in the joint strike fighter competition, Boeing has been at least at somewhat of a disadvantage when it comes to next-generation flying technology development. Lockheed has invested millions of dollars and countless hours in trials and development to get the F-35 up to snuff that Boeing would have benefited from had the X-32 been selected instead. By attempting to ensure its participation in an ambitious drone project, and in particular one that needs to marry manned and unmanned aircraft in ways that figure to become more common in the future, Boeing figures to gain valuable experience when preparing for future competitions. Bofore the partnership, Boeing was at risk of being left on the outside yet again. As fellow Fool Rich Smithnoted in January, many watchers give the General Atomics offering the upper hand in the Stingray competition because of its expected cost advantages and the previous success of its designs. In partnering with General Atomics, Boeing is offering its expertise to the potential eventual winner. That's a gesture the Pentagon would surely appreciate. If it ensures Boeing a seat at the table for a next-gen aircraft, all the better for the company. More From The Motley Fool • 3 Growth Stocks at Deep-Value Prices • 5 Expected Social Security Changes in 2018 • 6 Years Later, 6 Charts That Show How Far Apple, Inc. Has Come Since Steve Jobs' Passing • 10 Best Stocks to Buy Today • The $16,122 Social Security Bonus You Cannot Afford to Miss • Bitcoin's Biggest Competitor Isn't Ethereum -- It's This Lou Whitemanhas no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has adisclosure policy. \|\| Boeing Hedges Its Bet in MQ-25 Drone Competition: Boeing (NYSE: BA) earlier this month signed on to help privately held General Atomics in the competition to build the U.S. Navy's MQ-25 Stingray tanker drone, even as Boeing has its own competing design in the competition. The reasoning behind Boeing's surprising decision to hedge its bets provides some insight into the company's long-term thinking and goes well beyond one program. Boeing, General Atomics, and Lockheed Martin (NYSE: LMT) in January all submitted bids to build what the Navy describes as an aerial refueling tanker drone, and General Atomics on Feb. 12 announced a group of partners including United Technologies , L-3 Communications , and BAE Systems , along with Boeing. Specifically, General Atomics will lean on Boeing Autonomous Systems for what was described as "aviation and autonomous experience" on its drone, which is expected to be based on its Avenger model. MQ-25 prototype Boeing's entry into the MQ-25 competition. Image source: Boeing. The partnership won't stop Boeing from entering its own competitor into a competition that could be worth billions depending on how many units the Navy eventually decides to order. An unexpected place to devote added resources Despite the potential size of the contract, the Stingray would appear at first glance to be an odd one for Boeing to double down on. The Navy appears in no rush to get the eventual winner into production, projecting just four MQ-25 deliveries by fiscal 2023 in its recently released budget projections, and the Pentagon has made no firm commitment to buy the full 72 aircraft initially envisioned. Further, the government has seemed uncertain at times about what it needs the Stringray to do, and whether the drone would be primarily just for refueling or also be used for surveillance and intelligence gathering. With all the uncertainty, Northrop Grumman , which was initially viewed as one of the favorites in the competition, last October went the opposite direction from Boeing and dropped out of the competition . Story continues More than just a drone For Boeing, participation in the MQ-25 program seems to be about a lot more than selling a few drones. It's an incumbent manufacturer in a sector where new technologies threaten to disrupt the status quo, making sure it has a seat at the table for whatever comes next. Boeing has a lot to offer whoever the eventual winner is, given its leading role as a provider of Air Force refueling tankers and its generations of experience working with catapult launch and recovery systems on aircraft carriers. But ever since the company's X-32 design lost out to Lockheed Martin's F-35 in the joint strike fighter competition, Boeing has been at least at somewhat of a disadvantage when it comes to next-generation flying technology development. Lockheed has invested millions of dollars and countless hours in trials and development to get the F-35 up to snuff that Boeing would have benefited from had the X-32 been selected instead. By attempting to ensure its participation in an ambitious drone project, and in particular one that needs to marry manned and unmanned aircraft in ways that figure to become more common in the future, Boeing figures to gain valuable experience when preparing for future competitions. Bofore the partnership, Boeing was at risk of being left on the outside yet again. As fellow Fool Rich Smith noted in January , many watchers give the General Atomics offering the upper hand in the Stingray competition because of its expected cost advantages and the previous success of its designs. In partnering with General Atomics, Boeing is offering its expertise to the potential eventual winner. That's a gesture the Pentagon would surely appreciate. If it ensures Boeing a seat at the table for a next-gen aircraft, all the better for the company. More From The Motley Fool 3 Growth Stocks at Deep-Value Prices 5 Expected Social Security Changes in 2018 6 Years Later, 6 Charts That Show How Far Apple, Inc. Has Come Since Steve Jobs' Passing 10 Best Stocks to Buy Today The $16,122 Social Security Bonus You Cannot Afford to Miss Bitcoin's Biggest Competitor Isn't Ethereum -- It's This Lou Whiteman has no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy . \|\| Riot Blockchain Gets Hit by Another Shareholder Lawsuit: After changing its name toRiot Blockchainin October to include the word “blockchain,” the public companywatched its stock skyrocket from $8 a share to more than $38 during a cryptocurrency rally at the beginning of the year. The first significant problem was the company did not have any real focus on blockchain technology. Before October, Riot was known as Bioptix, a maker of diagnostic machinery for the biotech industry. The company also changed its ticker symbol to RIOT from BIOP. Another problem was that key shareholder Barry Honig got caught with his hand in the cookie jar,selling offa big stake of his shares at $38 per share after the name change. On February 22, 2018, law firm Robbins Geller Rudman & Dowd LLPannouncedit was filing a class-action lawsuit against Riot. The complaint charges Riot, along with Honig and company CEO John O’Rourke and CFO Jeffrey McGonegal, with securities violations. Specifically, the charges claim that despite its lack of blockchain expertise, Riot changed its name to generate investor enthusiasm to further an insider scheme that would allow Riot’s controlling shareholders to dump their stocks at grossly inflated prices. At least two other lawsuits have been filed against Riot and its principals, charging them with securities violations and false and misleading statements. These lawsuits follow a scathinginvestigationinto Riot by CNBC on February 16, 2018, that raised questions about the company’s business model and Honig. In the wake of that report, shares tumbled 33 percent to $11.46. It is likely these class-action lawsuits may be the first of many to come against Riot. On October 4, 2017, Riotadopted its new nameand headed off in a radical new business direction, announcing it was going to invest in and operate blockchain technologies with a focus on Bitcoin and Ethereum. The company had no previous business in blockchain technology, yet in press releases, Riot portrayed itself as a seasoned player in the space. “At Riot Blockchain, our team has the insight and network to effectively grow and develop blockchain assets,” said Riot’s then-CEO, Michael Beeghley, in astatementat the time. The company has a history of questionable activities. In December, Riot began purchasing cryptocurrency mining equipment. But rather than purchasing from the manufacturer or other suppliers, thecompany paidmore than $11 million for equipment worth only $2 million by purchasing it through a newly formed shell entity. Honig is also charged with exercising outside influence over the company’s business operations. Beginning in April 2016, long before the company changed its name to Riot, Honig began purchasing shares in the company. By December 2016, he had become the company’s largest shareholder, owning more than 11 percent of the company. He used that influence to nominate several new directors to the board, including O’Rourke. In addition to insider selling after the name change, other worrying signs about the company included:Riot lost two auditing firms in just one year, and two annual stockholder meetings werepostponedat the last minute. Also, some of Riot’s business deals involved investors who had worked on similar deals together in the past, raising questions about the company’s governance. Riot is not the only company to have jumped onboard the rename-your-company “blockchain” bandwagon. Several other companies have also rewritten their names to cash in on the blockchain and cryptocurrency craze. In December, the Long Island Iced Tea Corporation, a New York–based company that makes iced tea,rebranded itselfas “Long Blockchain.” Its company shares rose 300 percent as a result. In January, legacy photography company Kodak announced thelaunch of KODAKCoin, a “photo-centric” cryptocurrency for photographers, and its stock went up 80 percent within hours. Lawsuits like the ones now piling up against Riot stand as a reminder that a name change is not enough — a company needs real blockchain experience and technology and a solid business plan behind it before adding “blockchain” to its name. This article originally appeared onBitcoin Magazine. \|\| Riot Blockchain Gets Hit by Another Shareholder Lawsuit: Riot Blockchain Gets Hit by Another Shareholder Lawsuit After changing its name to Riot Blockchain in October to include the word “blockchain,” the public company watched its stock skyrocket from $8 a share to more than $38 during a cryptocurrency rally at the beginning of the year. The first significant problem was the company did not have any real focus on blockchain technology. Before October, Riot was known as Bioptix, a maker of diagnostic machinery for the biotech industry. The company also changed its ticker symbol to RIOT from BIOP. Another problem was that key shareholder Barry Honig got caught with his hand in the cookie jar, selling off a big stake of his shares at $38 per share after the name change. On February 22, 2018, law firm Robbins Geller Rudman & Dowd LLP announced it was filing a class-action lawsuit against Riot. The complaint charges Riot, along with Honig and company CEO John O’Rourke and CFO Jeffrey McGonegal, with securities violations. Specifically, the charges claim that despite its lack of blockchain expertise, Riot changed its name to generate investor enthusiasm to further an insider scheme that would allow Riot’s controlling shareholders to dump their stocks at grossly inflated prices. At least two other lawsuits have been filed against Riot and its principals, charging them with securities violations and false and misleading statements. These lawsuits follow a scathing investigation into Riot by CNBC on February 16, 2018, that raised questions about the company’s business model and Honig. In the wake of that report, shares tumbled 33 percent to $11.46. It is likely these class-action lawsuits may be the first of many to come against Riot. On October 4, 2017, Riot adopted its new name and headed off in a radical new business direction, announcing it was going to invest in and operate blockchain technologies with a focus on Bitcoin and Ethereum. The company had no previous business in blockchain technology, yet in press releases, Riot portrayed itself as a seasoned player in the space. “At Riot Blockchain, our team has the insight and network to effectively grow and develop blockchain assets,” said Riot’s then-CEO, Michael Beeghley, in a statement at the time. The company has a history of questionable activities. In December, Riot began purchasing cryptocurrency mining equipment. But rather than purchasing from the manufacturer or other suppliers, the company paid more than $11 million for equipment worth only $2 million by purchasing it through a newly formed shell entity. Honig is also charged with exercising outside influence over the company’s business operations. Beginning in April 2016, long before the company changed its name to Riot, Honig began purchasing shares in the company. By December 2016, he had become the company’s largest shareholder, owning more than 11 percent of the company. He used that influence to nominate several new directors to the board, including O’Rourke. In addition to insider selling after the name change, other worrying signs about the company included: Riot lost two auditing firms in just one year, and two annual stockholder meetings were postponed at the last minute. Also, some of Riot’s business deals involved investors who had worked on similar deals together in the past, raising questions about the company’s governance. Riot is not the only company to have jumped onboard the rename-your-company “blockchain” bandwagon. Several other companies have also rewritten their names to cash in on the blockchain and cryptocurrency craze. In December, the Long Island Iced Tea Corporation, a New York–based company that makes iced tea, rebranded itself as “Long Blockchain.” Its company shares rose 300 percent as a result. In January, legacy photography company Kodak announced the launch of KODAKCoin , a “photo-centric” cryptocurrency for photographers, and its stock went up 80 percent within hours. Lawsuits like the ones now piling up against Riot stand as a reminder that a name change is not enough — a company needs real blockchain experience and technology and a solid business plan behind it before adding “blockchain” to its name. Story continues Shady Activities “All Aboard” This article originally appeared on Bitcoin Magazine . View comments \|\| 8 memorable quotes from Warren Buffett's newest shareholder letter: In his annual letter to Berkshire Hathaway (BRK-A,BRK-B) shareholders, legendary investor Warren Buffett muses on the M&A environment, his aversion to leverage, opportunities to buy during downturns, and his disregard for fees charged by active managers. We’ve rounded up eight of our favorite quotes from this year’s letter. Buffett bemoans the acquisition frenzy on Wall Street that’s been fueled by extraordinarily cheap debt, making it difficult to find possible acquisitions at a “sensible purchase price.” Buffett and Charlie Munger’s aversion to using leverage may have “dampened” their returns over the last 53 years, but the long-term focused investors don’t seem all that bothered by it. When making investment decisions, Buffett and Munger have focused on building Berkshire in a manner that can withstand major economic downturns without the need for government bailouts. Buffett and Munger don’t rely on the expensive research produced by Wall Street firms to make investment decisions. Leverage might boost returns when prices go up, but it’s devastating when prices go down, which is when solvent investors are able buy cheaply. Amateur investors who put their money in low-cost index funds can beat the so-called ‘smart money’ hedge funds charging extraordinary management and performance fees. Buffett has long been a critic of the high fees charged by hedge fund managers, especially when they continue to charge those fees during periods of poor performance. Buffett learned that so-called “risk-free” bonds were a ‘far riskier’ investment than a long-term investment in common stocks. Julia La Roche is a finance reporter at Yahoo Finance.Follow her on Twitter. • Munger: It’s time for regulators to ‘let up’ on Wells Fargo • Munger: Part of GE’s problem is how it promotes its executives • Munger: Rising medical costs in the US are evil • Munger: Bitcoin is ‘poison’ and the government needs to step on it hard • Munger: You won’t get the returns Buffett and I got by doing what we did \|\| Warren Buffett's best quotes from Berkshire Hathaway letter: In his annual letter to Berkshire Hathaway ( BRK-A , BRK-B ) shareholders, legendary investor Warren Buffett muses on the M&A environment, his aversion to leverage, opportunities to buy during downturns, and his disregard for fees charged by active managers. We’ve rounded up eight of our favorite quotes from this year’s letter. 1. “If Wall Street analysts or board members urge that brand of CEO to consider possible acquisitions, it’s a bit like telling your ripening teenager to be sure to have a normal sex life.” Buffett bemoans the acquisition frenzy on Wall Street that’s been fueled by extraordinarily cheap debt, making it difficult to find possible acquisitions at a “sensible purchase price.” 2. “But Charlie and I sleep well. Both of us believe it is insane to risk what you have and need in order to obtain what you don’t need.” Buffett and Charlie Munger’s aversion to using leverage may have “dampened” their returns over the last 53 years, but the long-term focused investors don’t seem all that bothered by it. 3. “Charlie and I never will operate Berkshire in a manner that depends on the kindness of strangers — or even that of friends who may be facing liquidity problems of their own.” When making investment decisions, Buffett and Munger have focused on building Berkshire in a manner that can withstand major economic downturns without the need for government bailouts. 4. “Charlie and I view the marketable common stocks that Berkshire owns as interests in businesses, not as ticker symbols to be bought or sold based on their ‘chart’ patterns, the ‘target’ prices of analysts or the opinions of media pundits.” Buffett and Munger don’t rely on the expensive research produced by Wall Street firms to make investment decisions. 5. “When major declines occur, however, they offer extraordinary opportunities to those who are not handicapped by debt.” Leverage might boost returns when prices go up, but it’s devastating when prices go down, which is when solvent investors are able buy cheaply. 6. “Though markets are generally rational, they occasionally do crazy things. Seizing the opportunities then offered does not require great intelligence, a degree in economics or a familiarity with Wall Street jargon such as alpha and beta.” Amateur investors who put their money in low-cost index funds can beat the so-called ‘smart money’ hedge funds charging extraordinary management and performance fees. 7. “Performance comes, performance goes. Fees never falter.” Buffett has long been a critic of the high fees charged by hedge fund managers, especially when they continue to charge those fees during periods of poor performance. Story continues 8. “Investing is an activity in which consumption today is foregone in an attempt to allow greater consumption at a later date. ‘Risk’ is the possibility that this objective won’t be attained.” Buffett learned that so-called “risk-free” bonds were a ‘far riskier’ investment than a long-term investment in common stocks. Julia La Roche is a finance reporter at Yahoo Finance. Follow her on Twitter. Munger: It’s time for regulators to ‘let up’ on Wells Fargo Munger: Part of GE’s problem is how it promotes its executives Munger: Rising medical costs in the US are evil Munger: Bitcoin is ‘poison’ and the government needs to step on it hard Munger: You won’t get the returns Buffett and I got by doing what we did View comments \|\| Trump's Budget Gives These Oil Stocks an Extra Boost: Most oil wells only scratch the surface of their potential. The average well recovers only about 10% of the oil trapped in an underground reservoir. However, by using a variety of enhanced oil recovery (EOR) techniques, companies can boost the amount of oil extracted to as much as 60% of the original oil in place (OOIP). As one would expect, these methods add to the cost, and the additional expense is getting harder to justify in an era of low oil prices. The companies that employ one of the costlier techniques, which involves injecting carbon dioxide into an oil reservoir to coax more oil out of the ground, just got a shot in the arm. A provision in the latest U.S. budget, which President Trump recently signed into law, will significantly boost a tax credit for injecting this gas underground to produce oil. A pipeline and an oil pump at sunset. Image source: Getty Images. EOR 101 When an oil company drills into a reservoir, oil naturally flows out of the wellbore at first. But as the built-up pressure gets released, the rate of flow falls, much the same way that soda initially gushes out of a shaken can before fizzling out. To boost the flow, companies install a pumpjack (like the one in the picture above) to pull more oil out of the ground. These primary production techniques typically recover only 10% to 20% of the OOIP. The next stage in the process often involves flooding the reservoir with water to push more oil out. This stage recovers just an additional 20% of the OOIP. During the third stage, also called tertiary recovery, gases like carbon dioxide are injected into the ground, which can often recover another 20% of the OOIP. Oil companies have been using carbon dioxide for more than 40 years to boost output and prolong the life of legacy oil wells. However, it's a costly process. Producers must secure a supply of carbon dioxide, build a pipeline to the field, drill carbon dioxide injection wells, and finally flood the reservoir. The carbon dioxide then moves through the formation and mixes with the oil, pushing it toward the producing well. Story continues Pumpjack backlit by the setting sun. Image source: Getty Images. Three oil stocks that will benefit the most To help offset the additional costs, a tax credit of up to $10 per ton of carbon dioxide injected into the ground has been available to EOR producers. The new budget that President Trump recently signed into law boosts that credit up to $35 per ton for the next 12 years. That will help reduce costs for the top EOR producers in the country: Kinder Morgan (NYSE: KMI) , Denbury Resources (NYSE: DNR) , and Occidental Petroleum (NYSE: OXY) . While it's known as a natural gas pipeline company, Kinder Morgan is also one of the largest oil producers in Texas , with all its output coming from carbon dioxide . In addition to producing oil, the company controls carbon dioxide source fields in Colorado and New Mexico, as well as the pipelines that move the gas to oil fields in Texas. In fact, the company is the largest transporter of carbon dioxide in North America, moving 1.3 billion cubic feet per day. Kinder Morgan's carbon business is already a vast operation, and the company plans to spend $1.6 billion over the next five years to expand it. And thanks to the higher tax credit, the company could invest even more, since it stands to benefit twice: The change should reduce its production costs and potentially give it an opportunity to expand its supply and transportation business to meet the needs of other producers in the future. Oil giant Occidental Petroleum operates more carbon dioxide floods than any other company in the country. Each year, it injects more than 700 billion cubic feet of carbon dioxide into the ground to produce oil. Occidental plans to invest $550 million over the next few years on additional carbon dioxide floods. If the tax credit works as hoped, the company could reinvest its savings and boost that spending level to increase output further. Denbury Resources' focus is EOR, with 60% of its production coming from this process. While Kinder Morgan and Occidental Petroleum concentrate solely on coaxing more oil out of the Permian Basin , Denbury produces from the Gulf Coast and Rockies regions. Another thing that's unique about Denbury: A quarter of its carbon dioxide comes from industrial sources. For example, Air Products (NYSE: APD) recovers and purifies carbon dioxide captured at one of its facilities in Texas, and then transports it on Denbury's Green Pipeline. Denbury then injects it into the West Hastings Field in Texas. This process captures 45 million cubic feet of carbon dioxide each day produced at Air Products' facility. It's one of two industrial sources used by Denbury in the region, with a third one potentially coming on line in 2021. While Denbury has the resources in the ground and access to carbon dioxide to produce more oil, it lacks the capital to build the pipelines necessary to flood additional fields. It has proposed building a 110-mile, $150 million pipeline project in Montana and a 90-mile, $220 million expansion in Texas, and with oil prices improving and the tax credit expanding, the company might be able to move forward with those projects. A shot in the arm The increased tax credit will certainly benefit this trio of EOR producers in the coming years by helping reduce their production costs. The resulting improvement in cash flow, which would be even bigger with higher oil prices, could help spur more investment than currently planned, which in turn could enable these companies to increase production faster. Those factors could also help reverse the fortunes of investors in this trio of oil stocks, all of which are down sharply in the past few years due to the lingering effects of the oil market downturn. More From The Motley Fool 3 Growth Stocks at Deep-Value Prices 5 Expected Social Security Changes in 2018 6 Years Later, 6 Charts That Show How Far Apple, Inc. Has Come Since Steve Jobs' Passing 10 Best Stocks to Buy Today The $16,122 Social Security Bonus You Cannot Afford to Miss Bitcoin's Biggest Competitor Isn't Ethereum -- It's This Matthew DiLallo owns shares of Denbury Resources and Kinder Morgan and has the following options: short March 2018 $17 puts on Kinder Morgan. The Motley Fool owns shares of and recommends Kinder Morgan. The Motley Fool has a disclosure policy . \|\| Trump's Budget Gives These Oil Stocks an Extra Boost: Most oil wells only scratch the surface of their potential. The average well recovers only about 10% of the oil trapped in an underground reservoir. However, by using a variety of enhanced oil recovery (EOR) techniques, companies can boost the amount of oil extracted to as much as 60% of the original oil in place (OOIP). As one would expect, these methods add to the cost, and the additional expense is getting harder to justify in an era of low oil prices. The companies that employ one of the costlier techniques, which involves injecting carbon dioxide into an oil reservoir to coax more oil out of the ground, just got a shot in the arm. A provision in the latest U.S. budget, which President Trump recently signed into law, will significantly boost a tax credit for injecting this gas underground to produce oil. Image source: Getty Images. When an oil company drills into a reservoir, oil naturally flows out of the wellbore at first. But as the built-up pressure gets released, the rate of flow falls, much the same way that soda initially gushes out of a shaken can before fizzling out. To boost the flow, companies install a pumpjack (like the one in the picture above) to pull more oil out of the ground. These primary production techniques typically recover only 10% to 20% of the OOIP. The next stage in the process often involves flooding the reservoir with water to push more oil out. This stage recovers just an additional 20% of the OOIP. During the third stage, also called tertiary recovery, gases like carbon dioxide are injected into the ground, which can often recover another 20% of the OOIP. Oil companies have been using carbon dioxide for more than 40 years to boost output and prolong the life of legacy oil wells. However, it's a costly process. Producers must secure a supply of carbon dioxide, build a pipeline to the field, drill carbon dioxide injection wells, and finally flood the reservoir. The carbon dioxide then moves through the formation and mixes with the oil, pushing it toward the producing well. Image source: Getty Images. To help offset the additional costs, a tax credit of up to $10 per ton of carbon dioxide injected into the ground has been available to EOR producers. The new budget that President Trump recently signed into law boosts that credit up to $35 per ton for the next 12 years. That will help reduce costs for the top EOR producers in the country:Kinder Morgan(NYSE: KMI),Denbury Resources(NYSE: DNR), andOccidental Petroleum(NYSE: OXY). While it's known as a natural gas pipeline company, Kinder Morgan is alsoone of the largest oil producers in Texas, withall its output coming from carbon dioxide. In addition to producing oil, the company controls carbon dioxide source fields in Colorado and New Mexico, as well as the pipelines that move the gas to oil fields in Texas. In fact, the company is the largest transporter of carbon dioxide in North America, moving 1.3 billion cubic feet per day. Kinder Morgan's carbon business is already a vast operation, and the company plans to spend $1.6 billion over the next five years to expand it. And thanks to the higher tax credit, the company could invest even more, since it stands to benefit twice: The change should reduce its production costs and potentially give it an opportunity to expand its supply and transportation business to meet the needs of other producers in the future. Oil giant Occidental Petroleum operates more carbon dioxide floods than any other company in the country. Each year, it injects more than 700 billion cubic feet of carbon dioxide into the ground to produce oil. Occidental plans to invest $550 million over the next few years on additional carbon dioxide floods. If the tax credit works as hoped, the company could reinvest its savings and boost that spending level to increase output further. Denbury Resources' focus is EOR, with 60% of its production coming from this process. While Kinder Morgan and Occidental Petroleum concentrate solely on coaxing more oil out of thePermian Basin, Denbury produces from the Gulf Coast and Rockies regions. Another thing that's unique about Denbury: A quarter of its carbon dioxide comes from industrial sources. For example,Air Products(NYSE: APD)recovers and purifies carbon dioxide captured at one of its facilities in Texas, and then transports it on Denbury's Green Pipeline. Denbury then injects it into the West Hastings Field in Texas. This process captures 45 million cubic feet of carbon dioxide each day produced at Air Products' facility. It's one of two industrial sources used by Denbury in the region, with a third one potentially coming on line in 2021. While Denbury has the resources in the ground and access to carbon dioxide to produce more oil, it lacks the capital to build the pipelines necessary to flood additional fields. It has proposed building a 110-mile, $150 million pipeline project in Montana and a 90-mile, $220 million expansion in Texas, and with oil prices improving and the tax credit expanding, the company might be able to move forward with those projects. The increased tax credit will certainly benefit this trio of EOR producers in the coming years by helping reduce their production costs. The resulting improvement in cash flow, which would be even bigger with higher oil prices, could help spur more investment than currently planned, which in turn could enable these companies to increase production faster. Those factors could also help reverse the fortunes of investors in this trio of oil stocks, all of which are down sharply in the past few years due to the lingering effects of the oil market downturn. More From The Motley Fool • 3 Growth Stocks at Deep-Value Prices • 5 Expected Social Security Changes in 2018 • 6 Years Later, 6 Charts That Show How Far Apple, Inc. Has Come Since Steve Jobs' Passing • 10 Best Stocks to Buy Today • The $16,122 Social Security Bonus You Cannot Afford to Miss • Bitcoin's Biggest Competitor Isn't Ethereum -- It's This Matthew DiLalloowns shares of Denbury Resources and Kinder Morgan and has the following options: short March 2018 $17 puts on Kinder Morgan. The Motley Fool owns shares of and recommends Kinder Morgan. The Motley Fool has adisclosure policy. \|\| Say Hello to the Blockchain in Transport Alliance and Its 10 Brand-Name Members: Cryptocurrencies have taken the market by storm over the past year and change. Last year, the aggregate value of virtual currencies soared close to $600 billion, increasing in value by more than 3,300% in the process. This gain may very well be the greatest single-year return we'll ever see in an asset class. Though numerous catalysts played a critical role in pushing digital currency prices higher, much of the credit rightly belongs toblockchain technology, which was introduced to the world in mainstream fashion when bitcoin debuted in 2009. For those of you unfamiliar with blockchain, we're talking about the digital, distributed, and decentralized ledger that underpins most cryptocurrencies and is responsible for transparently recording all transactions without the need for a financial intermediary, such as a bank. Image source: Getty Images. The existence and evolution of blockchain is a result of perceived inefficiencies with the current financial system. For example, banks tend to act as third parties during transactions, entitling them to a fee, which blockchain developers view as excessive. Additionally, transactions made to countries outside of your domestic borders could take days to validate and settle, which developers believe is unacceptable. With blockchain, transactions are being proofed 24 hours a day, seven days a week, meaning there's the potential to settle transactions almost instantly, or within a few minutes in a worst-case scenario. Likewise, the elimination of banks as the middlemen should help reduce transaction costs. Though blockchain is expected to be a boon to the financial services industry for the points described above, blockchain actually has numerous applications beyond currency-only industries and sectors. Blockchain can be used to createdecentralized IDs, immutably log medical records, and, perhaps most intriguingly, make supply chains more efficient. The rise of blockchain has led numerous big businesses to dabble with the technology in pilot and small-scale projects. For instance, the Enterprise Ethereum Alliance (EEA), which was formed in February 2017, is now 200 organizations strong, and is the largest open-source blockchain initiative in the world.Quite a few brand-name companiesare testing versions of the Ethereum blockchain for a variety of industries, including financial, industrial, logistics, energy, and medical. Image source: Getty Images. Arguably, though, an even more exciting open-source blockchain initiative was formed just a few months ago: the Blockchain in Transport Alliance (BiTA). This alliance, which rather than focusing on a specific version of blockchain as the EEA does, has a specific industrial focus of utilizing blockchain to improve efficiencies in the freight industry. Understand that this doesn't just mean trucking, albeit trucking is a major component of BiTA. It involves financers, parts suppliers, cloud computing developers, railroads, and tire companies, to name a few industries. An available presentation from BiTA on itswebsitelists eight real-world use cases for blockchain in the freight industry. These are: 1. Performance history:Since blockchain is transparent and immutable, it would allow all parties access to past performance to remove any "trust" concerns. 2. Vehicle maintenance:Blockchain would allow a vehicle's repair history to stay with a vehicle for anyone to see, rather than kept on paper, which can be lost or altered. 3. Quality assurance:Blockchain would allow all parties access to records and photos of loads at pick-up and drop-off locations, resolving unsubstantiated disputes. 4. Compliance:Electronic logging devices already in transport vehicles can send real-time weather and traffic data to the blockchain network to aid in rerouting. 5. Capacity monitoring:Blockchain can help logistics companies with changes in available capacity throughout the day. 6. Payments and pricing:Since blockchain data is logged digitally, companies will be able to utilize more data than ever to generate accurate pricing. 7. Fraud detection:As noted, blockchain transactions are immutable, and will therefore be visible to everyone with access to the network, reducing the potential for fraud. 8. Theft prevention:Blockchain can contain regulations and photo IDs, which improves security measures and reduces the opportunity for product theft. Image source: UPS. Not only is this transportation blockchain initiative picking up traction, but it's managed to attract more than 110 members, with hundreds of additional applicants lying in wait. Some of the most well-known members include logistics companiesUPS(NYSE: UPS)andFedEx, tire company Bridgestone, truck and engine developerNavistar, railroad kingpin BNSF, trucking companiesWerner Enterprises,C.H. Robinson, andYRC Worldwide, and cloud computing giantsSAP(NYSE: SAP)andSalesforce.com. For example, UPS joined BiTA back on Nov. 7, with the expressed interest in exploring what blockchain could do for its custom brokerage business. In particular, UPS wants to examine the possibility of removing paper from its custom brokerage business, which would improve security and transaction accuracy, helping all parties involved. UPS believes that blockchain would improve trust between it and its customers, as well as government customs agencies. Meanwhile, German software behemoth SAP joined BiTA a mere eight days after UPS. Joining made it complete since given that SAP in 2016 vowed to invest $2.2 billion over a five-year period to develop Internet of Things (IoT) capabilities for applications in the supply chain, manufacturing, and logistics industries. In July 2017, SAP unveiled a track and trace option to its "Leonardo" IoT platform, which aids in supply chain monitoring of goods around the globe. Given the industry focus of BiTA, as well as the consortium of brand-name companies backing it, the transportation industry may actually have a shot to beat the financial services industry into real-world, broad-scale implementation of blockchain technology. This is certainly something worth keeping a close eye on. More From The Motley Fool • 3 Growth Stocks at Deep-Value Prices • 5 Expected Social Security Changes in 2018 • 6 Years Later, 6 Charts That Show How Far Apple, Inc. Has Come Since Steve Jobs' Passing • 10 Best Stocks to Buy Today • The $16,122 Social Security Bonus You Cannot Afford to Miss • Bitcoin's Biggest Competitor Isn't Ethereum -- It's This Sean Williamshas no position in any of the stocks or cryptocurrencies mentioned. The Motley Fool recommends C.H. Robinson Worldwide, FedEx, and Salesforce.com, but has no position in any cryptocurrencies mentioned. The Motley Fool has adisclosure policy. \|\| Say Hello to the Blockchain in Transport Alliance and Its 10 Brand-Name Members: Cryptocurrencies have taken the market by storm over the past year and change. Last year, the aggregate value of virtual currencies soared close to $600 billion, increasing in value by more than 3,300% in the process. This gain may very well be the greatest single-year return we'll ever see in an asset class. Excitement surrounding blockchain technology is building Though numerous catalysts played a critical role in pushing digital currency prices higher, much of the credit rightly belongs to blockchain technology , which was introduced to the world in mainstream fashion when bitcoin debuted in 2009. For those of you unfamiliar with blockchain, we're talking about the digital, distributed, and decentralized ledger that underpins most cryptocurrencies and is responsible for transparently recording all transactions without the need for a financial intermediary, such as a bank. A man touching an encrypted block on a digital screen that's part of a larger blockchain. Image source: Getty Images. The existence and evolution of blockchain is a result of perceived inefficiencies with the current financial system. For example, banks tend to act as third parties during transactions, entitling them to a fee, which blockchain developers view as excessive. Additionally, transactions made to countries outside of your domestic borders could take days to validate and settle, which developers believe is unacceptable. With blockchain, transactions are being proofed 24 hours a day, seven days a week, meaning there's the potential to settle transactions almost instantly, or within a few minutes in a worst-case scenario. Likewise, the elimination of banks as the middlemen should help reduce transaction costs. Though blockchain is expected to be a boon to the financial services industry for the points described above, blockchain actually has numerous applications beyond currency-only industries and sectors. Blockchain can be used to create decentralized IDs , immutably log medical records, and, perhaps most intriguingly, make supply chains more efficient. Story continues Say hello to the Blockchain in Transport Alliance The rise of blockchain has led numerous big businesses to dabble with the technology in pilot and small-scale projects. For instance, the Enterprise Ethereum Alliance (EEA), which was formed in February 2017, is now 200 organizations strong, and is the largest open-source blockchain initiative in the world. Quite a few brand-name companies are testing versions of the Ethereum blockchain for a variety of industries, including financial, industrial, logistics, energy, and medical. Packaged boxes on conveyors waiting to be shipped. Image source: Getty Images. Arguably, though, an even more exciting open-source blockchain initiative was formed just a few months ago: the Blockchain in Transport Alliance (BiTA). This alliance, which rather than focusing on a specific version of blockchain as the EEA does, has a specific industrial focus of utilizing blockchain to improve efficiencies in the freight industry. Understand that this doesn't just mean trucking, albeit trucking is a major component of BiTA. It involves financers, parts suppliers, cloud computing developers, railroads, and tire companies, to name a few industries. An available presentation from BiTA on its website lists eight real-world use cases for blockchain in the freight industry. These are: Performance history: Since blockchain is transparent and immutable, it would allow all parties access to past performance to remove any "trust" concerns. Vehicle maintenance: Blockchain would allow a vehicle's repair history to stay with a vehicle for anyone to see, rather than kept on paper, which can be lost or altered. Quality assurance: Blockchain would allow all parties access to records and photos of loads at pick-up and drop-off locations, resolving unsubstantiated disputes. Compliance: Electronic logging devices already in transport vehicles can send real-time weather and traffic data to the blockchain network to aid in rerouting. Capacity monitoring: Blockchain can help logistics companies with changes in available capacity throughout the day. Payments and pricing: Since blockchain data is logged digitally, companies will be able to utilize more data than ever to generate accurate pricing. Fraud detection: As noted, blockchain transactions are immutable, and will therefore be visible to everyone with access to the network, reducing the potential for fraud. Theft prevention: Blockchain can contain regulations and photo IDs, which improves security measures and reduces the opportunity for product theft. A male UPS employee wearing brown shorts and a neon orange vest loading boxes onto a truck. Image source: UPS. BiTA's biggest brand-name members Not only is this transportation blockchain initiative picking up traction, but it's managed to attract more than 110 members, with hundreds of additional applicants lying in wait. Some of the most well-known members include logistics companies UPS (NYSE: UPS) and FedEx , tire company Bridgestone, truck and engine developer Navistar , railroad kingpin BNSF, trucking companies Werner Enterprises , C.H. Robinson , and YRC Worldwide , and cloud computing giants SAP (NYSE: SAP) and Salesforce.com . For example, UPS joined BiTA back on Nov. 7, with the expressed interest in exploring what blockchain could do for its custom brokerage business. In particular, UPS wants to examine the possibility of removing paper from its custom brokerage business, which would improve security and transaction accuracy, helping all parties involved. UPS believes that blockchain would improve trust between it and its customers, as well as government customs agencies. Meanwhile, German software behemoth SAP joined BiTA a mere eight days after UPS. Joining made it complete since given that SAP in 2016 vowed to invest $2.2 billion over a five-year period to develop Internet of Things (IoT) capabilities for applications in the supply chain, manufacturing, and logistics industries. In July 2017, SAP unveiled a track and trace option to its "Leonardo" IoT platform, which aids in supply chain monitoring of goods around the globe. Given the industry focus of BiTA, as well as the consortium of brand-name companies backing it, the transportation industry may actually have a shot to beat the financial services industry into real-world, broad-scale implementation of blockchain technology. This is certainly something worth keeping a close eye on. More From The Motley Fool 3 Growth Stocks at Deep-Value Prices 5 Expected Social Security Changes in 2018 6 Years Later, 6 Charts That Show How Far Apple, Inc. Has Come Since Steve Jobs' Passing 10 Best Stocks to Buy Today The $16,122 Social Security Bonus You Cannot Afford to Miss Bitcoin's Biggest Competitor Isn't Ethereum -- It's This Sean Williams has no position in any of the stocks or cryptocurrencies mentioned. The Motley Fool recommends C.H. Robinson Worldwide, FedEx, and Salesforce.com, but has no position in any cryptocurrencies mentioned. The Motley Fool has a disclosure policy . \|\| 3 Biotech Stocks That Soared This Week: Are They Buys?: No matter what happens with the stock market in general, you can count on at least a few biotech stocks to generate sizzling returns week after week. This week was no exception, with three hot biotech stocks soaring 24% or more in just a few days. Voyager Therapeutics (NASDAQ: VYGR) , Fate Therapeutics (NASDAQ: FATE) , and Odonate Therapeutics (NASDAQ: ODT) ranked as three of the biggest movers this week. What drove these biotech stocks higher -- and are they smart picks for investors now after their tremendous gains? Line chart going up in front of businessman holding calculator surrounded by dollar signs Image source: Getty Images. 1. Voyager Therapeutics: It's nice to be wanted Voyager Therapeutics stood out as the biggest biotech winner of the week, with its shares skyrocketing nearly 50% higher. The company received a huge boost from a huge drugmaker -- AbbVie (NYSE: ABBV) . On Feb. 20, AbbVie and Voyager announced a strategic collaboration to develop treatments for Alzheimer's disease and other neurodegenerative diseases. Under the terms of the deal, Voyager will receive $69 million in up-front payments and the potential for up to $155 million in preclinical and phase 1 milestone payments. Beyond that, AbbVie could also pay Voyager as much as $895 million per vectorized tau antibody if key development and regulatory milestones are reached, plus tiered royalties on any commercial sales. Voyager currently has one clinical program. VY-AADC received a green light last month from the Food and Drug Administration to advance to a phase 2/3 clinical study targeting treatment of advanced Parkinson's disease. The small biotech also has several preclinical candidates, including a couple for which Sanofi has secured licensing option rights. The deal with AbbVie seems to be a good fit for both companies. Voyager benefits from the influx of cash. AbbVie gets to supplement its neuroscience pipeline, which includes one experimental Alzheimer's disease drug in phase 2 testing. 2. Fate Therapeutics: Early progress is still progress Fate Therapeutics stock jumped 45% this week, continuing a six-month streak in which the biotech's market cap has more than tripled. The catalyst for Fate over the past few days was the company's announcement about an early-stage clinical study. Story continues The biotech's lead pipeline candidate is FATE-NK100, a natural killer (NK) cell cancer therapy. On Feb. 20, Fate Therapeutics announced that the first patient had been treated in a phase 1 study combining FATE-NK100 with either Herceptin or Erbitux in treating advanced solid tumors. Both of these other drugs are monoclonal antibody chemotherapies commonly used in cancer treatment. Why did Fate get such a nice bump on very early news in an early-stage study? Probably because investors are excited about the potential for FATE-NK100. The immunotherapy is also in a couple of other clinical studies targeting treatment of acute myelogenous leukemia and ovarian cancer. Although it's still early, FATE-NK100 holds considerable promise in treating cancer, especially for patients who have failed monoclonal antibody therapy. The combination of the NK cell cancer therapy with monoclonal antibody drugs could be more effective than single-drug treatments. 3. Odonate Therapeutics: One really optimistic CEO Odonate Therapeutics stock rose 24% higher this week. But the biotech didn't announce a major partnership like Voyager did, nor did it provide a pipeline update like Fate did. So what caused Odonate stock to zoom higher? One likely catalyst is increased insider buying of the biotech stock. Odonate CEO Kevin Tang bought nearly $2.9 million worth of the company's shares on Feb. 16, 2018. Tang followed up with another purchase totaling nearly $1.1 million on Feb. 22. Tang seems to be optimistic about the prospects for Odonate's pipeline candidate, tesetaxel. The chemotherapy is being evaluated in a late-stage clinical study for treatment of metastatic breast cancer. Tesetaxel belongs to a class of drugs known as taxanes, several of which have been approved for treating cancer. However, tesetaxel should be more convenient for patients since it's a pill and doesn't require intravenous administration like currently approved taxanes. This advantage could make the drug a commercial success if eventually approved. Odonate just started the phase 3 study of tesetaxel in December, so it's too soon to know how well the drug will perform. Initial results from the study probably won't be available until late 2020. Are they buys? At this point, Voyager, Fate, and Odonate seem to have promising pipeline candidates. I think it's great that Voyager has attracted the interest of major drugmakers. Fate also has a collaboration with Juno Therapeutics , which is being acquired by Celgene . And it's usually a positive sign for a CEO to pour big bucks into his company's stock as Odonate's Kevin Tang has done. However, all three of this week's top biotech stocks are still in clinical stage, with no products on the market. For many investors, buying clinical-stage biotech stocks is simply too risky. The odds of failure for drugs in clinical development are pretty high, especially for early-stage candidates. So while I think there are reasons to be cautiously optimistic about Voyager, Fate, and Odonate, I don't think they're stocks to buy right now for most investors. I'm much more comfortable taking a position in AbbVie, which keeps on giving investors more reason to buy with its increasing dividends and pipeline progress. A big biotech like AbbVie isn't likely to jump 20% or more in one week like these three stocks just did. But AbbVie has gained more than 20% so far this year and more than 90% over the last 12 months. That's enough soaring to make most investors happy. More From The Motley Fool 3 Growth Stocks at Deep-Value Prices 5 Expected Social Security Changes in 2018 6 Years Later, 6 Charts That Show How Far Apple, Inc. Has Come Since Steve Jobs' Passing 10 Best Stocks to Buy Today The $16,122 Social Security Bonus You Cannot Afford to Miss Bitcoin's Biggest Competitor Isn't Ethereum -- It's This Keith Speights owns shares of AbbVie and Celgene. The Motley Fool owns shares of and recommends Celgene. The Motley Fool has a disclosure policy . \|\| 3 Biotech Stocks That Soared This Week: Are They Buys?: No matter what happens with the stock market in general, you can count on at least a few biotech stocks to generate sizzling returns week after week. This week was no exception, with three hot biotech stocks soaring 24% or more in just a few days. Voyager Therapeutics(NASDAQ: VYGR),Fate Therapeutics(NASDAQ: FATE), andOdonate Therapeutics(NASDAQ: ODT)ranked as three of the biggest movers this week. What drove these biotech stocks higher -- and are they smart picks for investors now after their tremendous gains? Image source: Getty Images. Voyager Therapeutics stood out as the biggest biotech winner of the week, withits shares skyrocketingnearly 50% higher. The company received a huge boost from a huge drugmaker --AbbVie(NYSE: ABBV). On Feb. 20, AbbVie and Voyager announced a strategic collaboration to develop treatments for Alzheimer's disease and other neurodegenerative diseases. Under the terms of the deal, Voyager will receive $69 million in up-front payments and the potential for up to $155 million in preclinical and phase 1 milestone payments. Beyond that, AbbVie could also pay Voyager as much as $895 million per vectorized tau antibody if key development and regulatory milestones are reached, plus tiered royalties on any commercial sales. Voyager currently has one clinical program. VY-AADC received a green light last month from the Food and Drug Administration to advance to a phase 2/3 clinical study targeting treatment of advanced Parkinson's disease. The small biotech also has several preclinical candidates, including a couple for whichSanofihas secured licensing option rights. The deal with AbbVie seems to be a good fit for both companies. Voyager benefits from the influx of cash. AbbVie gets to supplement its neuroscience pipeline, which includes one experimental Alzheimer's disease drug in phase 2 testing. Fate Therapeutics stock jumped 45% this week, continuing a six-month streak in which the biotech's market cap has more than tripled. The catalyst for Fate over the past few days was the company's announcement about an early-stage clinical study. The biotech's lead pipeline candidate is FATE-NK100, a natural killer (NK) cell cancer therapy. On Feb. 20, Fate Therapeutics announced that the first patient had been treated in a phase 1 study combining FATE-NK100 with either Herceptin or Erbitux in treating advanced solid tumors. Both of these other drugs are monoclonal antibody chemotherapies commonly used in cancer treatment. Why did Fate get such a nice bump on very early news in an early-stage study? Probably because investors are excited about the potential for FATE-NK100. The immunotherapy is also in a couple of other clinical studies targeting treatment of acute myelogenous leukemia and ovarian cancer. Although it's still early, FATE-NK100 holds considerable promise in treating cancer, especially for patients who have failed monoclonal antibody therapy. The combination of the NK cell cancer therapy with monoclonal antibody drugs could be more effective than single-drug treatments. Odonate Therapeutics stock rose 24% higher this week. But the biotech didn't announce a major partnership like Voyager did, nor did it provide a pipeline update like Fate did. So what caused Odonate stock to zoom higher? One likely catalyst is increased insider buying of the biotech stock. Odonate CEO Kevin Tang bought nearly $2.9 million worth of the company's shares on Feb. 16, 2018. Tang followed up with another purchase totaling nearly $1.1 million on Feb. 22. Tang seems to be optimistic about the prospects for Odonate's pipeline candidate, tesetaxel. The chemotherapy is being evaluated in a late-stage clinical study for treatment of metastatic breast cancer. Tesetaxel belongs to a class of drugs known as taxanes, several of which have been approved for treating cancer. However, tesetaxel should be more convenient for patients since it's a pill and doesn't require intravenous administration like currently approved taxanes. This advantage could make the drug a commercial success if eventually approved. Odonate just started the phase 3 study of tesetaxel in December, so it's too soon to know how well the drug will perform. Initial results from the study probably won't be available until late 2020. At this point, Voyager, Fate, and Odonate seem to have promising pipeline candidates. I think it's great that Voyager has attracted the interest of major drugmakers. Fate also has a collaboration withJuno Therapeutics, which is being acquired byCelgene. And it's usually a positive sign for a CEO to pour big bucks into his company's stock as Odonate's Kevin Tang has done. However, all three of this week's top biotech stocks are still in clinical stage, with no products on the market. For many investors, buying clinical-stage biotech stocks is simply too risky. The odds of failure for drugs in clinical development are pretty high, especially for early-stage candidates. So while I think there are reasons to be cautiously optimistic about Voyager, Fate, and Odonate, I don't think they're stocks to buy right now for most investors. I'm much more comfortable taking a position in AbbVie, which keeps ongiving investors more reason to buywith its increasing dividends and pipeline progress. A big biotech like AbbVie isn't likely to jump 20% or more in one week like these three stocks just did. But AbbVie has gained more than 20% so far this year and more than 90% over the last 12 months. That's enough soaring to make most investors happy. More From The Motley Fool • 3 Growth Stocks at Deep-Value Prices • 5 Expected Social Security Changes in 2018 • 6 Years Later, 6 Charts That Show How Far Apple, Inc. Has Come Since Steve Jobs' Passing • 10 Best Stocks to Buy Today • The $16,122 Social Security Bonus You Cannot Afford to Miss • Bitcoin's Biggest Competitor Isn't Ethereum -- It's This Keith Speightsowns shares of AbbVie and Celgene. The Motley Fool owns shares of and recommends Celgene. The Motley Fool has adisclosure policy. \|\| In Your 60s? 3 Stocks You Should Consider Buying: OK, those of us in our 60s know this already, but I'm going to say it anyway: We are not old. "Old" people are 10 or more years older than us, a perspective we've probably held for a long time -- say, since our first rock concert in the 1960s. I'm not just being whimsical about this; I have data. The Pew Research Center conducted a study of aging and found that the definition of old age depends on who you ask. People between 18 to 29 think that the average person becomes old at age 60. Those of middle age believe the threshold is closer to 70, and people 65 and older -- the ones who ought to know, I might add -- say on the average that old age starts at 74. Well, I admit that how we feel about aging might not matter much in investing, but what does matter is longevity. A woman turning 65 in the U.S. today can expect to live, on average, to 86.6. A man can expect to live to 84.3. And perhaps even more important is the fact that 1 out of every 4 65-year-old Americans will live to 90 and 1 in 10 will live to 95. Man and woman in their 60s walking down a path holding hands. Image source: Getty Images. What that means for us is that the investment horizon of a 60-something is still measured in decades. That has implications for how we should look at picking stocks. Ask a 30-something (you know, one of those people who think we are old) what stocks a 60-year-old should own, and it's almost a certainty they'll say to go with dividend stocks. That would be the conventional wisdom, but it misses the most important point. Don't get me wrong: I think dividend stocks are great for people of all ages. Leaders of companies that emphasize dividend yield tend to have a conservative mindset, not taking risks that could force a dividend cut down the road. Often this leads to steadier performance, less volatility, and an investment you don't have to watch very closely. And if you are drawing on your portfolio regularly for income, those dividend credits coming into your account are nice to see. Story continues But the real enemy of older investors that are living on investment income is not volatility, it is inflation. Even at a low inflation rate of 3%, a 65-year-old needs to prepare for the possibility of inflation doubling their cost of living in their lifetime. And there is no guarantee that inflation won't return to the higher rates of yesteryear (consider the Jimmy Carter years). So the best stocks for people in their 60s include a component of growth that will at least keep up with inflation. American Tower Corporation (NYSE: AMT) , 3M Corporation (NYSE: MMM) , and Celgene (NASDAQ: CELG) are three stocks with good growth and some built-in inflation protection (and yes, two of them happen to pay dividends). American Tower logo. Image source: American Tower. American Tower Corporation American Tower owns cellphone towers -- lots of them. It owns about 40,000 towers in the U.S. and 108,000 in the rest of the world, mostly in the emerging markets of India, Africa, and Latin America, where cellphone coverage is growing rapidly. American Tower makes its money by renting space on its towers to communications companies. A single tower could have space rented to multiple phone companies, and each tenant could have multiple sets of antennas and equipment for different wireless technologies and frequencies. As cellular voice and data usage increases, tenants add more equipment to increase bandwidth, and have to pay American Tower more rent. The beauty of American Tower's business model, and why it has inflation protection built in, is that the company signs contracts with tenants for five to 10 years with built-in escalation clauses that raise the rent at about the rate of inflation. In the U.S., these escalators average about 3% annually, and in international markets, the rate is based on local inflation rates. Tenants typically renew; the historical churn rate is about 1% to 2%. The rate escalations protect revenue from inflation, increasing cellular data usage drives the need for more equipment space and therefore more rent, and the company has other sources of growth, too. The company is structured as a real estate investment trust (REIT), so it is required to return 90% of its GAAP profit as distributions to shareholders. But since the company has a lot of non-cash expenses, it generates free cash flow far in excess of what it needs to distribute, and it uses that money to expand , buying new tower sites or acquiring towers from other providers. It also helps to support a dividend yield of 2%. With mobile data usage expected to expand at least 25% to 30% annually in the U.S. (and even faster in emerging markets), and deployment of 5G equipment on the horizon, American Tower has plenty of growth to layer on top of its inflation-protected core. The stock yields 2%. Origami Post-it Note art with a paper clip. Image source: 3M. 3M Corporation It's hard to find a company that has a more reliable history of growth and investor-friendly capital allocation than 3M. It has paid a dividend for a hundred years and recently joined a small group of companies that has raised their dividend each year for the last 60 years. These haven't been token raises. Over the last 20 years, 3M has raised its quarterly dividend by 395%, outpacing inflation over that period of 52% by almost eight times. That kind of income growth can help retirees sleep at night. What makes 3M able to deliver returns that beat inflation by a wide margin over decades? Innovation. The company consistently invests in innovation, both in new products and in manufacturing processes, and has a large product portfolio diversified across multiple sectors like consumer goods, healthcare, and industrial, giving it stability and dependability. Last year 3M grew sales 5.1%, increased core earnings 12.4%, converted 100% of earnings to free cash flow, paid out $2.8 billion in dividends, and bought back $2.1 billion of its stock. It recently hiked the dividend by a whopping 16%. The stock now yields 2.3% and sells for a reasonable 22 times estimated 2018 earnings. Count on 3M to continue delivering inflation-beating returns long after you get old. Lab workers with vials and microscope. Image source: Getty Images. Celgene No doubt you've noticed, either through personal experience or by reading the news, that drug prices are rising much faster than inflation. Industry forecasters predict that drug prices will increase 7.6% in 2018, more than three times the 2% overall inflation the Federal Reserve is expecting. Politicians may talk about the issue a lot, but no one seriously believes that drug prices will do anything but soar relative to inflation for a long time. Fueling the growth of the drug industry is billions of dollars in spending on research and development, which is producing new breakthrough therapies and discovering treatments for diseases that were formerly untreatable. Investors can get growth with some inflation protection by buying shares of companies that have plenty of cash flow to pour into developing their drug pipeplines. Celgene, one of the larger biotechnology companies, spent $2.7 billion on research and development in 2017. That's not enough to put it in the top 10 spenders in the drug industry, but it's growing that investment faster than its peers, having hiked its R&D budget 9.6% from the year before. Celgene is running 160 clinical trials with 42 novel molecules across 60 indications. Celgene's current drug portfolio is generating plenty of growth and cash flow, which will be used for drug development and strategic acquisitions like its recent offer to buy Juno Therapeutics. Sales in 2017 grew 16% last year to $13 billion and adjusted earnings per share grew 25%. Operating cash flow of $5.2 billion was up 26% compared with 2016. Analysts expect the company to be able to grow prescription drug sales at 15% annually through 2022. You can get a piece of Celgene on sale now. A clinical trial failure last fall got investors worried about the near-term outlook, but Celgene's robust pipeline and growing investments in new drugs will produce plenty of other blockbuster drugs in the investment horizon of a 60-something. The stock sells for 11 times estimated 2018 earnings, compared with 17x for the S&P 500 . Celgene doesn't pay a dividend, preferring to invest its cash in its business. Dividends aren't enough Dividend stocks are great for people in their 60s, but every dollar that a company returns in the form of a dividend is a dollar that it does not reinvest in growing the underlying business. That's fine, but to withstand the inflation threat, those of us relying on investments to sustain us for decades need to make sure our investments also come with dependable sources of growth as well. Hey, if you're in your 60s, don't let anyone tell you you're old. Instead, buy good growth stocks that can beat inflation over the long term and be patient. Because, chances are, someday you will be old. Of course, you already knew that. More From The Motley Fool 3 Growth Stocks at Deep-Value Prices 5 Expected Social Security Changes in 2018 6 Years Later, 6 Charts That Show How Far Apple, Inc. Has Come Since Steve Jobs' Passing 10 Best Stocks to Buy Today The $16,122 Social Security Bonus You Cannot Afford to Miss Bitcoin's Biggest Competitor Isn't Ethereum -- It's This Jim Crumly owns shares of 3M, American Tower, and Celgene. The Motley Fool owns shares of and recommends American Tower and Celgene. The Motley Fool has the following options: short April 2018 $130 calls on American Tower and long January 2019 $80 calls on American Tower. The Motley Fool recommends 3M. The Motley Fool has a disclosure policy . \|\| In Your 60s? 3 Stocks You Should Consider Buying: OK, those of us in our 60s know this already, but I'm going to say it anyway: We are not old. "Old" people are 10 or more years older than us, a perspective we've probably held for a long time -- say, since our first rock concert in the 1960s. I'm not just being whimsical about this; I have data. The Pew Research Center conducteda studyof aging and found that the definition of old age depends on who you ask. People between 18 to 29 think that the average person becomes old at age 60. Those of middle age believe the threshold is closer to 70, and people 65 and older -- the ones who ought to know, I might add -- say on the average that old age starts at 74. Well, I admit that how we feel about aging might not matter much in investing, but what does matter is longevity. A woman turning 65 in the U.S. today can expect to live, on average, to 86.6. A man can expect to live to 84.3. And perhaps even more important is the fact that 1 out of every 4 65-year-old Americans will live to 90 and 1 in 10 will live to 95. Image source: Getty Images. What that means for us is that the investment horizon of a 60-something is still measured in decades. That has implications for how we should look at picking stocks. Ask a 30-something (you know, one of those people who think we are old) what stocks a 60-year-old should own, and it's almost a certainty they'll say to go with dividend stocks. That would be the conventional wisdom, but it misses the most important point. Don't get me wrong: I think dividend stocks are great for people of all ages. Leaders of companies that emphasize dividend yield tend to have a conservative mindset, not taking risks that could force a dividend cut down the road. Often this leads to steadier performance, less volatility, and an investment you don't have to watch very closely. And if you are drawing on your portfolio regularly for income, those dividend credits coming into your account are nice to see. But the real enemy of older investors that are living on investment income is not volatility, it is inflation. Even at a low inflation rate of 3%, a 65-year-old needs to prepare for the possibility of inflation doubling their cost of living in their lifetime. And there is no guarantee that inflation won't return to the higher rates of yesteryear (consider the Jimmy Carter years). So the best stocks for people in their 60s include a component of growth that will at least keep up with inflation.American Tower Corporation(NYSE: AMT),3M Corporation(NYSE: MMM), andCelgene(NASDAQ: CELG)are three stocks with good growth and some built-in inflation protection (and yes, two of them happen to pay dividends). Image source: American Tower. American Tower owns cellphone towers -- lots of them. It owns about 40,000 towers in the U.S. and 108,000 in the rest of the world, mostly in the emerging markets of India, Africa, and Latin America, where cellphone coverage is growing rapidly. American Tower makes its money by renting space on its towers to communications companies. A single tower could have space rented to multiple phone companies, and each tenant could have multiple sets of antennas and equipment for different wireless technologies and frequencies. As cellular voice and data usage increases, tenants add more equipment to increase bandwidth, and have to pay American Tower more rent. The beauty of American Tower's business model, and why it has inflation protection built in, is that the company signs contracts with tenants for five to 10 years with built-in escalation clauses that raise the rent at about the rate of inflation. In the U.S., these escalators average about 3% annually, and in international markets, the rate is based on local inflation rates. Tenants typically renew; the historical churn rate is about 1% to 2%. The rate escalations protect revenue from inflation, increasing cellular data usage drives the need for more equipment space and therefore more rent, and the company has other sources of growth, too. The company is structured as areal estate investment trust(REIT), so it is required to return 90% of itsGAAPprofit as distributions to shareholders. But since the company has a lot of non-cash expenses, it generates free cash flow far in excess of what it needs to distribute, and it uses that money toexpand, buying new tower sites or acquiring towers from other providers. It also helps to support a dividend yield of 2%. With mobile data usage expected to expand at least 25% to 30% annually in the U.S. (and even faster in emerging markets), and deployment of 5G equipment on the horizon, American Tower has plenty of growth to layer on top of its inflation-protected core. The stock yields 2%. Image source: 3M. It's hard to find a company that has a more reliable history of growth and investor-friendly capital allocation than 3M. It has paid a dividend for a hundred years and recently joined asmall group of companiesthat has raised their dividend each year for the last 60 years. These haven't been token raises. Over the last 20 years, 3M has raised its quarterly dividend by 395%, outpacing inflation over that period of 52% by almost eight times. That kind of income growth can help retirees sleep at night. What makes 3M able to deliver returns that beat inflation by a wide margin over decades? Innovation. The company consistently invests in innovation, both in new products and in manufacturing processes, and has a large product portfolio diversified across multiple sectors like consumer goods, healthcare, and industrial, giving it stability and dependability. Last year 3M grew sales 5.1%, increased core earnings 12.4%, converted 100% of earnings to free cash flow, paid out $2.8 billion in dividends, and bought back $2.1 billion of its stock. It recently hiked the dividend by a whopping 16%. The stock now yields 2.3% and sells for a reasonable 22 times estimated 2018 earnings. Count on 3M tocontinue deliveringinflation-beating returns long after you get old. Image source: Getty Images. No doubt you've noticed, either through personal experience or by reading the news, that drug prices are rising much faster than inflation. Industry forecasters predict that drug prices will increase 7.6% in 2018, more than three times the 2% overall inflation the Federal Reserve is expecting. Politicians may talk about the issue a lot, but no one seriously believes that drug prices will do anything but soar relative to inflation for a long time. Fueling the growth of the drug industry is billions of dollars in spending on research and development, which is producing new breakthrough therapies and discovering treatments for diseases that were formerly untreatable. Investors can get growth with some inflation protection by buying shares of companies that have plenty of cash flow to pour into developing their drug pipeplines. Celgene, one of the larger biotechnology companies, spent $2.7 billion on research and development in 2017. That's not enough to put it in the top 10 spenders in the drug industry, but it's growing that investment faster than its peers, having hiked its R&D budget 9.6% from the year before. Celgene is running 160 clinical trials with 42 novel molecules across 60 indications. Celgene's current drug portfolio is generating plenty of growth and cash flow, which will be used for drug development and strategic acquisitions like itsrecent offerto buy Juno Therapeutics. Sales in 2017 grew 16% last year to $13 billion and adjusted earnings per share grew 25%. Operating cash flow of $5.2 billion was up 26% compared with 2016. Analysts expect the company to be able to grow prescription drug sales at 15% annually through 2022. You can get a piece of Celgeneon salenow. A clinical trial failure last fall got investors worried about the near-term outlook, but Celgene's robust pipeline and growing investments in new drugs will produce plenty of other blockbuster drugs in the investment horizon of a 60-something. The stock sells for 11 times estimated 2018 earnings, compared with 17x for theS&P 500. Celgene doesn't pay a dividend, preferring to invest its cash in its business. Dividend stocks are great for people in their 60s, but every dollar that a company returns in the form of a dividend is a dollar that it does not reinvest in growing the underlying business. That's fine, but to withstand the inflation threat, those of us relying on investments to sustain us for decades need to make sure our investments also come with dependable sources of growth as well. Hey, if you're in your 60s, don't let anyone tell you you're old. Instead, buy good growth stocks that can beat inflation over the long term and be patient. Because, chances are, someday youwillbe old. Of course, you already knew that. More From The Motley Fool • 3 Growth Stocks at Deep-Value Prices • 5 Expected Social Security Changes in 2018 • 6 Years Later, 6 Charts That Show How Far Apple, Inc. Has Come Since Steve Jobs' Passing • 10 Best Stocks to Buy Today • The $16,122 Social Security Bonus You Cannot Afford to Miss • Bitcoin's Biggest Competitor Isn't Ethereum -- It's This Jim Crumlyowns shares of 3M, American Tower, and Celgene. The Motley Fool owns shares of and recommends American Tower and Celgene. The Motley Fool has the following options: short April 2018 $130 calls on American Tower and long January 2019 $80 calls on American Tower. The Motley Fool recommends 3M. The Motley Fool has adisclosure policy. [Social Media Buzz] 25Feb2018 18:00 UTC #Bitcoin live spots - #XBTUSD @ 9,383.90000 $ - #XBTEUR @ 7,633.85000 € \|\| It’s $1.00 lunchtime again today! Gotta save money for more cheaper coming $BTC in a few days pic.twitter.com/DvIUiW68TP \|\| 25 Şubat 2018 Saat 04:00:06, 1 BTC Kaç TL, 36.515,70 TL. #BTCTL #BTCKacTL #bitcoin #bitcoindeğerihttp://www.doviz724.com/1-bitcoin-kac-tl.html … \|\| Current Bitcoin Price All Forks = $11,001.00 -0.98% -- $BTC = $9,664.73 -0.80% $BCH = $1,178.10 -1.18% $BTG = $114.90 -0....	10366.70, 10725.60, 10397.90, 10951.00, 11086.40, 11489.70, 11512.60, 11573.30, 10779.90, 9965.57
Given the historical Bitcoin prices from the last 90 days, predict the next 10 daily closing prices. The historical prices are: 650.62, 655.56, 661.28, 654.10, 651.78, 654.35, 655.03, 656.99, 655.05, 624.68, 606.27, 547.47, 566.35, 578.29, 575.04, 587.78, 592.69, 591.05, 587.80, 592.10, 589.12, 587.56, 585.59, 570.47, 567.24, 577.44, 573.22, 574.32, 575.63, 581.70, 581.31, 586.75, 583.41, 580.18, 577.76, 579.65, 569.95, 573.91, 574.11, 577.50, 575.47, 572.30, 575.54, 598.21, 608.63, 606.59, 610.44, 614.54, 626.32, 622.86, 623.51, 606.72, 608.24, 609.24, 610.68, 607.16, 606.97, 605.98, 609.87, 609.23, 608.31, 597.15, 596.30, 602.84, 602.62, 600.83, 608.04, 606.17, 604.73, 605.69, 609.73, 613.98, 610.89, 612.13, 610.20, 612.51, 613.02, 617.12, 619.11, 616.75, 618.99, 641.07, 636.19, 636.79, 640.38, 638.65, 641.63, 639.19, 637.96, 630.52.	[Bitcoin Technical Analysis for 2016-10-19] Volume: 69381696, RSI (14-day): 57.17, 50-day EMA: 616.36, 200-day EMA: 567.15 [Wider Market Context] Gold Price: 1267.90, Gold RSI: 39.33 Oil Price: 51.60, Oil RSI: 65.86 [Recent News (last 7 days)] Traders debate buying pullback in Intel after earnings: The "Fast Money" traders debated whether to jump on a dip in Intel(INTC)after the company gavecurrent-quarter guidance that slightly missedWall Street expectations. Trader Guy Adami said Intel slightly lowered its gross margins guidance, which he found "potentially concerning." Trader Pete Najarian said he would be a buyer of Intel shares, as the stock fell more than 5 percent in extended trading on Tuesday. Trader Brian Kelly said he's concerned about Nvidia(NVDA), another semiconductor stock, and would be taking profits off the table in the company. He also said he would buy Intel. Disclosures: PETE NAJARIAN Long stock: AAPL, BAC, DIS, DISCA, GE, KMI, KMIA, KO, LUX, MRK, PEP, PFE CALLS: AAL, ABT, AMD, ATVI, BABA, BAC, BBY, BHI, BSX, CNX, COP, COTY, CRM, CS, CSCO, CXW, DAL, DISH, ECA, ETP, GM, GS, HAL, INTC, JBLU, JCP, KBE, KGC, KMI, KO, LLY, LOW, M, MOS, MRO, MRVL, MUR, NAV, NBR, P, RIO, SBUX, SLV, TMUS, TTS, TV, TWTR, VRX, WFT, WLL, XLF and puts: CLF, EEM, MBLY, WFC TIM SEYMOUR Tim Seymour is long ABX, APC, AVP, BAC, BBRY, CLF, DO, DVYE, EDC, EWZ, F, FB, FCX, FXI, GM, GOOGL, GE, INTC, LQD,MCD, MUR, OIH, PG, RACE, RAI, RH, RL, SINA, T, TWTR, VALE, VZ, XOM short: SPY, XRT. His firm is long ABX, BABA, BIDU, CBD, CLF, EWZ, F, KO, MCD, MPEL, NKE, PEP, PF, SAVE, SBUX, SINA, VALE, VIAB, WMT, WEN, X, YHOO, short EWG, HYG, IWM BRIAN KELLY Brian Kelly is long Bitcoin, SLV and Silver Futures, US Dollar UUP. He is short the euro and Japanese yen. GUY ADAMI Guy Adami is long CELG, EXAS, GDX, INTC. Adami's wife, Linda Snow, works at Merck. More From CNBC • Top News and Analysis • Latest News Video • Personal Finance \|\| Traders debate buying pullback in Intel after earnings: The " Fast Money " traders debated whether to jump on a dip in Intel ( INTC ) after the company gave current-quarter guidance that slightly missed Wall Street expectations. Trader Guy Adami said Intel slightly lowered its gross margins guidance, which he found "potentially concerning." Trader Pete Najarian said he would be a buyer of Intel shares, as the stock fell more than 5 percent in extended trading on Tuesday. Trader Brian Kelly said he's concerned about Nvidia ( NVDA ) , another semiconductor stock, and would be taking profits off the table in the company. He also said he would buy Intel. Disclosures: PETE NAJARIAN Long stock: AAPL, BAC, DIS, DISCA, GE, KMI, KMIA, KO, LUX, MRK, PEP, PFE CALLS: AAL, ABT, AMD, ATVI, BABA, BAC, BBY, BHI, BSX, CNX, COP, COTY, CRM, CS, CSCO, CXW, DAL, DISH, ECA, ETP, GM, GS, HAL, INTC, JBLU, JCP, KBE, KGC, KMI, KO, LLY, LOW, M, MOS, MRO, MRVL, MUR, NAV, NBR, P, RIO, SBUX, SLV, TMUS, TTS, TV, TWTR, VRX, WFT, WLL, XLF and puts: CLF, EEM, MBLY, WFC TIM SEYMOUR Tim Seymour is long ABX, APC, AVP, BAC, BBRY, CLF, DO, DVYE, EDC, EWZ, F, FB, FCX, FXI, GM, GOOGL, GE, INTC, LQD,MCD, MUR, OIH, PG, RACE, RAI, RH, RL, SINA, T, TWTR, VALE, VZ, XOM short: SPY, XRT. His firm is long ABX, BABA, BIDU, CBD, CLF, EWZ, F, KO, MCD, MPEL, NKE, PEP, PF, SAVE, SBUX, SINA, VALE, VIAB, WMT, WEN, X, YHOO, short EWG, HYG, IWM BRIAN KELLY Brian Kelly is long Bitcoin, SLV and Silver Futures, US Dollar UUP. He is short the euro and Japanese yen. GUY ADAMI Guy Adami is long CELG, EXAS, GDX, INTC. Adami's wife, Linda Snow, works at Merck. More From CNBC Top News and Analysis Latest News Video Personal Finance \|\| Winklevoss brothers name State Street as bitcoin ETF administrator: By Gertrude Chavez-Dreyfuss NEW YORK (Reuters) - Investors Cameron and Tyler Winklevoss on Tuesday filed amendments to their proposed bitcoin exchange-traded fund, naming State Street as administrator, according to a filing with the Securities and Exchange Commission. The Winklevoss brothers, identical twins, had filed their first application for a bitcoin ETF called Winklevoss Bitcoin Trust three years ago. Investors have shown keen interest in the Winklevoss ETF. If approved by the SEC, this would be the first bitcoin ETF issued by a U.S. entity. According to the amended filing, State Street will provide the fund administration and accounting services, including calculating the bitcoin trust's net asset value (NAV). Another major change involved the ETF's custodian, Gemini Trust Company, doing monthly "proof of control" exercises and publishing the reports on the ETF's website. "Custodian's cold storage system was purpose-built to demonstrate "proof of control" of the private keys associated with its public bitcoin addresses," the filing said. "The sponsor and the custodian have engaged an independent audit firm to verify that the custodian can demonstrate "proof of control" of the private keys that control the Trust's on a monthly basis." Burr Pilger Mayer, based in San Francisco and known for working with venture-backed digital currency companies, has been named the ETF's auditor, the filing said. In addition, the SEC filing said Gemini's daily auction price at 4 p.m. EDT will now be used to price the NAV of the ETF. The previous pricing mechanism was the Gemini spot price. Gemini runs a digital currency trading venue. Since its launch in September, the Gemini auction has transacted more than 19,00 bitcoin on average per business day, which represents more than 16 percent of all U.S.-based bitcoin exchange volume during the 4 p.m. period, Gemini said on Tuesday. The daily auction along with Gemini's expansion has increased the company's market share to about 9 percent of all U.S. dollar-denominated exchange-traded bitcoin volume. Story continues The ETF would trade under the ticker symbol COIN. Late on Tuesday, bitcoin traded at $632.88 on the BitStamp platform. (Reporting by Gertrude Chavez-Dreyfuss) \|\| Winklevoss brothers name State Street as bitcoin ETF administrator: By Gertrude Chavez-Dreyfuss NEW YORK (Reuters) - Investors Cameron and Tyler Winklevoss on Tuesday filed amendments to their proposed bitcoin exchange-traded fund, naming State Street as administrator, according to a filing with the Securities and Exchange Commission. The Winklevoss brothers, identical twins, had filed their first application for a bitcoin ETF called Winklevoss Bitcoin Trust three years ago. Investors have shown keen interest in the Winklevoss ETF. If approved by the SEC, this would be the first bitcoin ETF issued by a U.S. entity. According to the amended filing, State Street will provide the fund administration and accounting services, including calculating the bitcoin trust's net asset value (NAV). Another major change involved the ETF's custodian, Gemini Trust Company, doing monthly "proof of control" exercises and publishing the reports on the ETF's website. "Custodian's cold storage system was purpose-built to demonstrate "proof of control" of the private keys associated with its public bitcoin addresses," the filing said. "The sponsor and the custodian have engaged an independent audit firm to verify that the custodian can demonstrate "proof of control" of the private keys that control the Trust's on a monthly basis." Burr Pilger Mayer, based in San Francisco and known for working with venture-backed digital currency companies, has been named the ETF's auditor, the filing said. In addition, the SEC filing said Gemini's daily auction price at 4 p.m. EDT will now be used to price the NAV of the ETF. The previous pricing mechanism was the Gemini spot price. Gemini runs a digital currency trading venue. Since its launch in September, the Gemini auction has transacted more than 19,00 bitcoin on average per business day, which represents more than 16 percent of all U.S.-based bitcoin exchange volume during the 4 p.m. period, Gemini said on Tuesday. The daily auction along with Gemini's expansion has increased the company's market share to about 9 percent of all U.S. dollar-denominated exchange-traded bitcoin volume. Story continues The ETF would trade under the ticker symbol COIN. Late on Tuesday, bitcoin traded at $632.88 on the BitStamp platform. (Reporting by Gertrude Chavez-Dreyfuss) \|\| Winklevoss brothers name State Street as bitcoin ETF administrator: By Gertrude Chavez-Dreyfuss NEW YORK (Reuters) - Investors Cameron and Tyler Winklevoss on Tuesday filed amendments to their proposed bitcoin exchange-traded fund, naming State Street as administrator, according to a filing with the Securities and Exchange Commission. The Winklevoss brothers, identical twins, had filed their first application for a bitcoin ETF called Winklevoss Bitcoin Trust three years ago. Investors have shown keen interest in the Winklevoss ETF. If approved by the SEC, this would be the first bitcoin ETF issued by a U.S. entity. According to the amended filing, State Street will provide the fund administration and accounting services, including calculating the bitcoin trust's net asset value (NAV). Another major change involved the ETF's custodian, Gemini Trust Company, doing monthly "proof of control" exercises and publishing the reports on the ETF's website. "Custodian's cold storage system was purpose-built to demonstrate "proof of control" of the private keys associated with its public bitcoin addresses," the filing said. "The sponsor and the custodian have engaged an independent audit firm to verify that the custodian can demonstrate "proof of control" of the private keys that control the Trust's on a monthly basis." Burr Pilger Mayer, based in San Francisco and known for working with venture-backed digital currency companies, has been named the ETF's auditor, the filing said. In addition, the SEC filing said Gemini's daily auction price at 4 p.m. EDT will now be used to price the NAV of the ETF. The previous pricing mechanism was the Gemini spot price. Gemini runs a digital currency trading venue. Since its launch in September, the Gemini auction has transacted more than 19,00 bitcoin on average per business day, which represents more than 16 percent of all U.S.-based bitcoin exchange volume during the 4 p.m. period, Gemini said on Tuesday. The daily auction along with Gemini's expansion has increased the company's market share to about 9 percent of all U.S. dollar-denominated exchange-traded bitcoin volume. Story continues The ETF would trade under the ticker symbol COIN. Late on Tuesday, bitcoin traded at $632.88 on the BitStamp platform. (Reporting by Gertrude Chavez-Dreyfuss) \|\| Winklevoss brothers name State Street as bitcoin ETF administrator: By Gertrude Chavez-Dreyfuss NEW YORK (Reuters) - Investors Cameron and Tyler Winklevoss on Tuesday filed amendments to their proposed bitcoin exchange-traded fund, naming State Street as administrator, according to a filing with the Securities and Exchange Commission. The Winklevoss brothers, identical twins, had filed their first application for a bitcoin ETF called Winklevoss Bitcoin Trust three years ago. Investors have shown keen interest in the Winklevoss ETF. If approved by the SEC, this would be the first bitcoin ETF issued by a U.S. entity. According to the amended filing, State Street will provide the fund administration and accounting services, including calculating the bitcoin trust's net asset value (NAV). Another major change involved the ETF's custodian, Gemini Trust Company, doing monthly "proof of control" exercises and publishing the reports on the ETF's website. "Custodian's cold storage system was purpose-built to demonstrate "proof of control" of the private keys associated with its public bitcoin addresses," the filing said. "The sponsor and the custodian have engaged an independent audit firm to verify that the custodian can demonstrate "proof of control" of the private keys that control the Trust's on a monthly basis." Burr Pilger Mayer, based in San Francisco and known for working with venture-backed digital currency companies, has been named the ETF's auditor, the filing said. In addition, the SEC filing said Gemini's daily auction price at 4 p.m. EDT will now be used to price the NAV of the ETF. The previous pricing mechanism was the Gemini spot price. Gemini runs a digital currency trading venue. Since its launch in September, the Gemini auction has transacted more than 19,00 bitcoin on average per business day, which represents more than 16 percent of all U.S.-based bitcoin exchange volume during the 4 p.m. period, Gemini said on Tuesday. Story continues The daily auction along with Gemini's expansion has increased the company's market share to about 9 percent of all U.S. dollar-denominated exchange-traded bitcoin volume. The ETF would trade under the ticker symbol COIN. Late on Tuesday, bitcoin traded at $632.88 on the BitStamp platform. (Reporting by Gertrude Chavez-Dreyfuss) \|\| Winklevoss brothers name State Street as bitcoin ETF administrator: By Gertrude Chavez-Dreyfuss NEW YORK (Reuters) - Investors Cameron and Tyler Winklevoss on Tuesday filed amendments to their proposed bitcoin exchange-traded fund, naming State Street as administrator, according to a filing with the Securities and Exchange Commission. The Winklevoss brothers, identical twins, had filed their first application for a bitcoin ETF called Winklevoss Bitcoin Trust three years ago. Investors have shown keen interest in the Winklevoss ETF. If approved by the SEC, this would be the first bitcoin ETF issued by a U.S. entity. According to the amended filing, State Street will provide the fund administration and accounting services, including calculating the bitcoin trust's net asset value (NAV). Another major change involved the ETF's custodian, Gemini Trust Company, doing monthly "proof of control" exercises and publishing the reports on the ETF's website. "Custodian's cold storage system was purpose-built to demonstrate "proof of control" of the private keys associated with its public bitcoin addresses," the filing said. "The sponsor and the custodian have engaged an independent audit firm to verify that the custodian can demonstrate "proof of control" of the private keys that control the Trust's on a monthly basis." Burr Pilger Mayer, based in San Francisco and known for working with venture-backed digital currency companies, has been named the ETF's auditor, the filing said. In addition, the SEC filing said Gemini's daily auction price at 4 p.m. EDT will now be used to price the NAV of the ETF. The previous pricing mechanism was the Gemini spot price. Gemini runs a digital currency trading venue. Since its launch in September, the Gemini auction has transacted more than 19,00 bitcoin on average per business day, which represents more than 16 percent of all U.S.-based bitcoin exchange volume during the 4 p.m. period, Gemini said on Tuesday. The daily auction along with Gemini's expansion has increased the company's market share to about 9 percent of all U.S. dollar-denominated exchange-traded bitcoin volume. The ETF would trade under the ticker symbol COIN. Late on Tuesday, bitcoin traded at $632.88 on the BitStamp platform. (Reporting by Gertrude Chavez-Dreyfuss) \|\| Winklevoss brothers name State Street as bitcoin ETF administrator: By Gertrude Chavez-Dreyfuss NEW YORK (Reuters) - Investors Cameron and Tyler Winklevoss on Tuesday filed amendments to their proposed bitcoin exchange-traded fund, naming State Street as administrator, according to a filing with the Securities and Exchange Commission. The Winklevoss brothers, identical twins, had filed their first application for a bitcoin ETF called Winklevoss Bitcoin Trust three years ago. Investors have shown keen interest in the Winklevoss ETF. If approved by the SEC, this would be the first bitcoin ETF issued by a U.S. entity. According to the amended filing, State Street will provide the fund administration and accounting services, including calculating the bitcoin trust's net asset value (NAV). Another major change involved the ETF's custodian, Gemini Trust Company, doing monthly "proof of control" exercises and publishing the reports on the ETF's website. "Custodian's cold storage system was purpose-built to demonstrate "proof of control" of the private keys associated with its public bitcoin addresses," the filing said. "The sponsor and the custodian have engaged an independent audit firm to verify that the custodian can demonstrate "proof of control" of the private keys that control the Trust's on a monthly basis." Burr Pilger Mayer, based in San Francisco and known for working with venture-backed digital currency companies, has been named the ETF's auditor, the filing said. In addition, the SEC filing said Gemini's daily auction price at 4 p.m. EDT will now be used to price the NAV of the ETF. The previous pricing mechanism was the Gemini spot price. Gemini runs a digital currency trading venue. Since its launch in September, the Gemini auction has transacted more than 19,00 bitcoin on average per business day, which represents more than 16 percent of all U.S.-based bitcoin exchange volume during the 4 p.m. period, Gemini said on Tuesday. The daily auction along with Gemini's expansion has increased the company's market share to about 9 percent of all U.S. dollar-denominated exchange-traded bitcoin volume. The ETF would trade under the ticker symbol COIN. Late on Tuesday, bitcoin traded at $632.88 on the BitStamp platform. (Reporting by Gertrude Chavez-Dreyfuss) \|\| Winklevoss brothers name State Street as bitcoin ETF administrator: By Gertrude Chavez-Dreyfuss NEW YORK, Oct 18 (Reuters) - Investors Cameron and Tyler Winklevoss on Tuesday filed amendments to their proposed bitcoin exchange-traded fund, naming State Street as administrator, according to a filing with the Securities and Exchange Commission. The Winklevoss brothers, identical twins, had filed their first application for a bitcoin ETF called Winklevoss Bitcoin Trust three years ago. Investors have shown keen interest in the Winklevoss ETF. If approved by the SEC, this would be the first bitcoin ETF issued by a U.S. entity. According to the amended filing, State Street will provide the fund administration and accounting services, including calculating the bitcoin trust's net asset value (NAV). Another major change involved the ETF's custodian, Gemini Trust Company, doing monthly "proof of control" exercises and publishing the reports on the ETF's website. "Custodian's cold storage system was purpose-built to demonstrate "proof of control" of the private keys associated with its public bitcoin addresses," the filing said. "The sponsor and the custodian have engaged an independent audit firm to verify that the custodian can demonstrate "proof of control" of the private keys that control the Trust's on a monthly basis." Burr Pilger Mayer, based in San Francisco and known for working with venture-backed digital currency companies, has been named the ETF's auditor, the filing said. In addition, the SEC filing said Gemini's daily auction price at 4 p.m. EDT will now be used to price the NAV of the ETF. The previous pricing mechanism was the Gemini spot price. Gemini runs a digital currency trading venue. Since its launch in September, the Gemini auction has transacted more than 19,00 bitcoin on average per business day, which represents more than 16 percent of all U.S.-based bitcoin exchange volume during the 4 p.m. period, Gemini said on Tuesday. The daily auction along with Gemini's expansion has increased the company's market share to about 9 percent of all U.S. dollar-denominated exchange-traded bitcoin volume. Story continues The ETF would trade under the ticker symbol COIN. Late on Tuesday, bitcoin traded at $632.88 on the BitStamp platform. (Reporting by Gertrude Chavez-Dreyfuss) \|\| Winklevoss brothers name State Street as bitcoin ETF administrator: By Gertrude Chavez-Dreyfuss NEW YORK, Oct 18 (Reuters) - Investors Cameron and Tyler Winklevoss on Tuesday filed amendments to their proposed bitcoin exchange-traded fund, naming State Street as administrator, according to a filing with the Securities and Exchange Commission. The Winklevoss brothers, identical twins, had filed their first application for a bitcoin ETF called Winklevoss Bitcoin Trust three years ago. Investors have shown keen interest in the Winklevoss ETF. If approved by the SEC, this would be the first bitcoin ETF issued by a U.S. entity. According to the amended filing, State Street will provide the fund administration and accounting services, including calculating the bitcoin trust's net asset value (NAV). Another major change involved the ETF's custodian, Gemini Trust Company, doing monthly "proof of control" exercises and publishing the reports on the ETF's website. "Custodian's cold storage system was purpose-built to demonstrate "proof of control" of the private keys associated with its public bitcoin addresses," the filing said. "The sponsor and the custodian have engaged an independent audit firm to verify that the custodian can demonstrate "proof of control" of the private keys that control the Trust's on a monthly basis." Burr Pilger Mayer, based in San Francisco and known for working with venture-backed digital currency companies, has been named the ETF's auditor, the filing said. In addition, the SEC filing said Gemini's daily auction price at 4 p.m. EDT will now be used to price the NAV of the ETF. The previous pricing mechanism was the Gemini spot price. Gemini runs a digital currency trading venue. Since its launch in September, the Gemini auction has transacted more than 19,00 bitcoin on average per business day, which represents more than 16 percent of all U.S.-based bitcoin exchange volume during the 4 p.m. period, Gemini said on Tuesday. The daily auction along with Gemini's expansion has increased the company's market share to about 9 percent of all U.S. dollar-denominated exchange-traded bitcoin volume. Story continues The ETF would trade under the ticker symbol COIN. Late on Tuesday, bitcoin traded at $632.88 on the BitStamp platform. (Reporting by Gertrude Chavez-Dreyfuss) \|\| Netscape Co-Founder: Passwords Are the Weak Link in Cyber Security: Jim Clark, co-founder of Netscape and Shutterfly, weighs in on the flaws of current cyber security efforts in place to prevent hacks. Clark discussed the rise in security breaches facing business of all sizes as well as organizations and government agencies. “Recently there’s been a spate as you know of disruptions, the DNC getting emails tapped and small business owners getting their machines encrypted so that they couldn’t do business and having to pay Bitcoin ransom and there’s, you know, massive password theft at companies like Yahoo. So we’re seeing it in a lot of different places,” Clark told the FOX Business Network’s Maria Bartiromo. Clark sees the use of passwords as a weak link in efforts to improve cyber security. “In the end it all, in one way or another, points to this deficiency I call it, that we call a password.” Clark then went into greater depth as to why he sees the use of passwords as a deficiency. “You don’t want to use it for access to a site because that requires that the site have a copy. You see, passwords are deficient because they amount to a shared secret. And there’s that old joke, ‘a secret is something you tell one person at a time.’ And the thing about a secret, this particular secret, you don’t want anyone to know.” Because of this, Clark added, “You’ve got to get out of passwords, there’s no question about that.” Clark explained the certificate concept used to authenticate websites. “The certificate concept has been around for years. It’s used to authenticate and make sure that you’re connecting to Google, make sure you’re connected to Yahoo. Any site you go to has a certificate. And that certificate is issued by a certification authority – there’s a complete infrastructure for dealing with that kind of issue.” Clark says that this certification could be implemented for users as well to replace the need for passwords. “The exact same mechanism can be used to authenticate users, so users need to be issued a certificate, then they don’t need a password and this certificate gets shared with everyone because it can’t be altered, it can’t be messed with. If you mess with it, It’s no longer valid.” Related Articles • U.S. housing starts tumble on weak multi-family construction activity • Halliburton posts surprise profit as expenses fall • Nissan to appoint CEO Ghosn as Mitsubishi Motors chairman: sources \|\| Dave Nadig's Deep Dive On New ETF Liquidity Rules: When the SEC published draft rules for mutual fund and ETF liquidity last year,I was less than complimentary. I pointed out that, for instance, virtually all corporate and high-yield bond ETFs would fail to meet the requirements on illiquid assets. That rule issailing through(with some small changes) for mutual funds, but the press is reporting that ETFs got a pass. That’s not quite true. Some BackgroundThe original proposal—and the current version—focused on all open-ended funds maintaining a liquidity risk management program with the intent to ensure that it could always meet shareholder redemptions in an orderly fashion. It was a clear response—or convenient timing at least—to the shenanigans that happened to Third Avenue’s mutual fund in the summer of 2015, when it closed for redemptions because it couldn’t sell its junk bonds fast enough. The original proposal received an enormous amount of industry commentary, and rather than publishing a revised rule for comment, the SEC simply published a final rule, which will go into effect for most funds in December 2018. The key components of the final rule are threefold: 1. Rules that ensure a fund always have highly liquid securities to meet redemptions 2. Rules that ensure a fund doesn’t have more than 15% of its investments in illiquid investment 3. A reporting regime that has funds classify all of their positions at least monthly and report each security as belonging to one of four liquidity buckets (the two above and two in the middle) Much of what the SEC requested was pretty noncontroversial; however, the ETF industry argued in its various comment letters that since ETFs meet redemptions generally by in-kind transfer of underlying securities, it should be exempt from large swaths of the program. They got a small slice of what they wanted, and it will have significant implications. What About The ETF Get-Out-of-Jail-Free Card?The SEC has defined for the first time a class of ETFs it refers to as “In-kind ETFs.” In-kind ETFs are those that use only a de minimis amount of cash in any redemption activity. The commission goes out of its way to say that it really means this: If you regularly use cash redemptions, you’re not covered here. The second big issue is that, to qualify, you must publish your complete portfolio every single day—the same transparency standard the SEC has so far held actively managed ETFs to. If you’re an in-kind ETF by this definition, you cansort ofavoid two components of the program: You don’t have to hold a bunch of highly liquid investments to meet redemptions, and you don’t have to classify all your portfolio holdings. I say "sort of" because the wording of the final rule is, in my opinion, a bit different than the actual discussion of the rule in the SEC’s 400-page final rulemaking document. The actual rule simply says in-kind ETFs can consider the fact that they can redeem-out shares when drafting their liquidity risk management program. It doesn’t actually say in-kind ETFs are exempt from holding those highly liquid assets or that they don’t have to comply with the fairly onerous reporting process. I imagine that will get cleared up and clarified, but it’s frustrating when the final rule doesn’t match the stated intent. But let’s assume that ETFs get at least a little relief there. The Big Whammy: The 15% RuleSo what’s the big deal? The 15% illiquid cap is problematic. There’s an enormous amount of wiggle room in how to meet the assessment that a given position can be liquidated without significant impact in seven days, and all that wiggle room lands on the fund board to interpret. The SEC discussion clearly shows that the commission understands it could be upsetting the apple cart, going so far as to say some funds will have to consider closing: “In circumstances in which it appears unlikely that the fund will be able to reduce its illiquid investment holdings to or below 15% within a period of time commensurate with its redemption obligations, a fund’s periodic liquidity risk review could lead the fund to reconsider its continued operation as an open-end fund.” So Who Could Get Hit Hardest Here?There are two groups that have an immediate problem. The first is ETFs that invest in less liquid securities. Funds that invest primarily in high-yield debt or bank loans may be able to argue that they can unload their whole portfolios without impact, but ultimately fund boards will have to decide how much risk they want to take in defining liberal interpretations of “illiquid.” The second issue is large funds. Because there’s no scaling here, funds that are very large have a much higher burden than small funds. I can own 100 shares of the most illiquid microcap and probably claim correctly that I could find a buyer in week. Not so for a $100 billion fund trying to own a proportionally similar position in the same company. This second issue is a big one, particularly for Vanguard.Vanguard’s ETFsare share classes of mutual funds. My assumption is that the root fund is what will have to make the test, not each individual share class, so it won’t get the pass on the reporting or highly liquid requirements. And Vanguard will be hit harder on the 15% illiquid cap than it would if its ETFs were in fact separate funds. While most of Vanguard’s 70 ETFs are in highly liquid corners of the market, it’s possible that funds like theVanguard Small Cap Index Fund (VB)or theVanguard Short Term Corporate Bond Index Fund (VCSH)could face real hurdles. When I ran the volume numbers on VCSH holdings last year, I estimated that even swamping the market, it would take VCSH 16 days to trade out. So without market impact, that’s probably a multiple—clearly a fund that probably won’t be in compliance without a pretty liberal interpretation of how the short-term corporate markets can absorb big sales. Could Vanguard solve this problem? It would be tricky. It would need to spin the ETFs out and adopt full disclosure. That’s a lot of work to save a few funds. Then again, I’m not sure what the options are. In the end, it does seem like ETFs dodged a BB here, if not a bullet, but the ripples from this earthquake will be felt for quite some time. I’m not suggesting we’ll see a huge raft of fund closures, but at a minimum, it’s a good year to be a lawyer advising fund boards. At the time of writing, the author held no positions in the securities mentioned. Dave Nadig is the director of exchange-traded funds at FactSet Research Systems. You can reach him [email protected], or on Twitter @DaveNadig. Recommended Stories • Swedroe: Cross Trading Boosts Mutual Funds Returns • Dave Nadig's Deep Dive On New ETF Liquidity Rules • SEC Approves Fund Liquidity Rules, Goes Easy On ETFs • SEC Wants To Hear From You On Bitcoin ETF • 6 ETFs To Gain From Money Market Mutual Fund Reform Permalink\| © Copyright 2016ETF.com.All rights reserved \|\| Dave Nadig's Deep Dive On New ETF Liquidity Rules: When the SEC published draft rules for mutual fund and ETF liquidity last year, I was less than complimentary . I pointed out that, for instance, virtually all corporate and high-yield bond ETFs would fail to meet the requirements on illiquid assets. That rule is sailing through (with some small changes) for mutual funds, but the press is reporting that ETFs got a pass. That’s not quite true. Some Background The original proposal — and the current version—focused on all open-ended funds maintaining a liquidity risk management program with the intent to ensure that it could always meet shareholder redemptions in an orderly fashion. It was a clear response — or convenient timing at least — to the shenanigans that happened to Third Avenue’s mutual fund in the summer of 2015, when it closed for redemptions because it couldn’t sell its junk bonds fast enough. The original proposal received an enormous amount of industry commentary, and rather than publishing a revised rule for comment, the SEC simply published a final rule, which will go into effect for most funds in December 2018. The key components of the final rule are threefold: Rules that ensure a fund always have highly liquid securities to meet redemptions Rules that ensure a fund doesn’t have more than 15% of its investments in illiquid investment A reporting regime that has funds classify all of their positions at least monthly and report each security as belonging to one of four liquidity buckets (the two above and two in the middle) Much of what the SEC requested was pretty noncontroversial; however, the ETF industry argued in its various comment letters that since ETFs meet redemptions generally by in-kind transfer of underlying securities, it should be exempt from large swaths of the program. They got a small slice of what they wanted, and it will have significant implications. What About The ETF Get-Out-of-Jail-Free Card? The SEC has defined for the first time a class of ETFs it refers to as “In-kind ETFs.” In-kind ETFs are those that use only a de minimis amount of cash in any redemption activity. The commission goes out of its way to say that it really means this: If you regularly use cash redemptions, you’re not covered here. Story continues The second big issue is that, to qualify, you must publish your complete portfolio every single day — the same transparency standard the SEC has so far held actively managed ETFs to. If you’re an in-kind ETF by this definition, you can sort of avoid two components of the program: You don’t have to hold a bunch of highly liquid investments to meet redemptions, and you don’t have to classify all your portfolio holdings. I say "sort of" because the wording of the final rule is, in my opinion, a bit different than the actual discussion of the rule in the SEC’s 400-page final rulemaking document. The actual rule simply says in-kind ETFs can consider the fact that they can redeem-out shares when drafting their liquidity risk management program. It doesn’t actually say in-kind ETFs are exempt from holding those highly liquid assets or that they don’t have to comply with the fairly onerous reporting process. I imagine that will get cleared up and clarified, but it’s frustrating when the final rule doesn’t match the stated intent. But let’s assume that ETFs get at least a little relief there. The Big Whammy: The 15% Rule So what’s the big deal? The 15% illiquid cap is problematic. There’s an enormous amount of wiggle room in how to meet the assessment that a given position can be liquidated without significant impact in seven days, and all that wiggle room lands on the fund board to interpret. The SEC discussion clearly shows that the commission understands it could be upsetting the apple cart, going so far as to say some funds will have to consider closing: “In circumstances in which it appears unlikely that the fund will be able to reduce its illiquid investment holdings to or below 15% within a period of time commensurate with its redemption obligations, a fund’s periodic liquidity risk review could lead the fund to reconsider its continued operation as an open-end fund.” So Who Could Get Hit Hardest Here? There are two groups that have an immediate problem. The first is ETFs that invest in less liquid securities. Funds that invest primarily in high-yield debt or bank loans may be able to argue that they can unload their whole portfolios without impact, but ultimately fund boards will have to decide how much risk they want to take in defining liberal interpretations of “illiquid.” The second issue is large funds. Because there’s no scaling here, funds that are very large have a much higher burden than small funds. I can own 100 shares of the most illiquid microcap and probably claim correctly that I could find a buyer in week. Not so for a $100 billion fund trying to own a proportionally similar position in the same company. This second issue is a big one, particularly for Vanguard. Vanguard’s ETFs are share classes of mutual funds. My assumption is that the root fund is what will have to make the test, not each individual share class, so it won’t get the pass on the reporting or highly liquid requirements. And Vanguard will be hit harder on the 15% illiquid cap than it would if its ETFs were in fact separate funds. While most of Vanguard’s 70 ETFs are in highly liquid corners of the market, it’s possible that funds like the Vanguard Small Cap Index Fund (VB) or the Vanguard Short Term Corporate Bond Index Fund (VCSH) could face real hurdles. When I ran the volume numbers on VCSH holdings last year, I estimated that even swamping the market, it would take VCSH 16 days to trade out. So without market impact, that’s probably a multiple —c learly a fund that probably won’t be in compliance without a pretty liberal interpretation of how the short-term corporate markets can absorb big sales. Could Vanguard solve this problem? It would be tricky. It would need to spin the ETFs out and adopt full disclosure. That’s a lot of work to save a few funds. Then again, I’m not sure what the options are. In the end, it does seem like ETFs dodged a BB here, if not a bullet, but the ripples from this earthquake will be felt for quite some time. I’m not suggesting we’ll see a huge raft of fund closures, but at a minimum, it’s a good year to be a lawyer advising fund boards. At the time of writing, the author held no positions in the securities mentioned. Dave Nadig is the director of exchange-traded funds at FactSet Research Systems. You can reach him at [email protected] , or on Twitter @DaveNadig. Recommended Stories Swedroe: Cross Trading Boosts Mutual Funds Returns Dave Nadig's Deep Dive On New ETF Liquidity Rules SEC Approves Fund Liquidity Rules, Goes Easy On ETFs SEC Wants To Hear From You On Bitcoin ETF 6 ETFs To Gain From Money Market Mutual Fund Reform Permalink \| © Copyright 2016 ETF.com. All rights reserved \|\| Blockchain could soon power stock markets, music sales, and even prevent child labor — here's how it works: (.) It's a technology conceived by the mysterious creator ofbitcoin— the digital currency championed by a motley crew of privacy-obsessed libertarians, social activists, and some criminals. (AP Photo) Now the idea of blockchain has gripped Wall Street's biggest institutions. Its enthusiasts think it could change the world. Sure, it would make contracts more enforceable and speed up the settlement of stock trades — hence the interest from big banks. But some see it going much further, cracking down onsex trafficking, music piracy, and child labor. And the key to all that — what attracts these different factions — is something that, on the surface at least, sounds rather banal: a digital ledger, like the one in your checkbook. "Blockchain is a truly extraordinary technology that does really mundane things," said Paul Brody, Ernst & Young's global blockchain leader. But for all the promise, these big questions remain: Who will foot the bill, and is it really as secure as supporters say? In the non-blockchain world, we keep separate records of transactions. If you write your friend a check, you balance your own checkbook and your friend does the same when they deposit it. But things can go wrong. They might forget to update their checkbook ledger. And each bank has no way to know immediately if the person has enough in their bank account to cover it. (Flickr / oblivion9999) With a blockchain, instead of two separate checkbooks with two records of debits and credits, you'd both look at the same ledger of transactions. It's private (encrypted, in computer-speak), and decentralized, so neither of you controls the ledger. This "distributed ledger" operates on consensus. Both of you can look at the ledger. Each transaction gets put into a block. If you both say that block is valid and correct, it's added to a chain. And that chain is protected by sophisticated cryptography: No one can change the chain after the fact. Now imagine this in a more complex form. This is what gets people in finance and technology excited. Say you want to buy a stock. Right now, your bank, brokerage, the stock exchange, and the company you're buying all have separate, private records of transactions. They can't see each other's ledgers. Nor can they verify that everything is accurate among all involved. With blockchain, they can all be on the same page — literally. Your bank can verify that you have enough money to transfer to your brokerage. That transfer is added to the ledger of transactions that everyone involved can see. Then your broker executes a trade for 100 shares. That gets added to the blockchain, too. Everyone involved verifies it's legitimate. The exchange receives the order — also added and verified. And then the company's shares end up in your account. You could see the record of all the shares you buy and sell in the permanent record. If you decide to sell the shares later, that transaction gets added to the blockchain. And because it's a consensus model in which every party confirms a transaction, "it gets more secure the more people you add" to the blockchain, Brody said. "When a transaction is completed, everyone has to get a copy of the transaction." That's blockchain in its purest form. In reality, however, different companies are experimenting with different forms. A blockchain used in financial services could be private, or a hybrid model between the decentralized vision and a more traditional centralized model that bankers are used to. A regulator, for instance, could hold the key to a blockchain, and some companies are thinking about how to maintain a middleman. No one knows who invented blockchain. The idea for it came from apaper published online eight years agothat unveiled bitcoin, the digital currency. The author, Satoshi Nakamoto, is thought to be using a pseudonym. The true identity remains a mystery, and there's debate over whether it was created by an individual or group. At first, bitcoin got all the attention. The idea of a secure, private currency, divorced from a specific government, captured the imaginations of technologists, libertarians, and people concerned about the power of big banks and government regulation. Bitcoin transactions occur peer-to-peer, meaning no government or third party is involved. (Goldman SachsYouTube/Goldman Sachs) Today, bitcoin and blockchain still attract privacy-minded and antigovernment types. But it also increasingly appeals to people like Grainne McNamara. She spent years building out technology at banks like Morgan Stanley and Goldman Sachs. Now she's a leader of PricewaterhouseCooper's blockchain for financial services. And that means she spends a lot of time attending and hosting blockchain conferences. At one, a speaker showed a picture of a shed in his presentation. McNamara remembers him jokingly saying, "Take the bankers behind the shed and kill them." He didn't know his audience. McNamara was sitting next to former bankers, who found the whole thing humorous, she said. Despite the shed metaphor, "it's a peaceful cohabitation," McNamara told Business Insider. "People genuinely appreciate the disruptive element to spawn innovation." One area blockchain proponents get excited about is the idea of a "smart contract." While most bank agreements are still paper documents — banks are awash in paper, even in 2016 — a smart contract is a computer program that helps keeps everyone accountable. (People play a video game on the stand of Acer at the IFA Electronics show in Berlin, Germany, Sept. 2, 2015.Reuters/Axel Schmidt) Let's say you're a company that designs and sells video game consoles. You work with suppliers and shipping companies, and have a number of serious concerns. You want to make sure they're manufactured well and on time. You want to make sure there are no labor violations, such as children working on the assembly line. And you want to make sure everyone gets paid on time. In the old way of doing things, numerous contracts might be involved to manufacture one video game console. And each side may have its own paper copies. Smart contracts provide automated accountability. (Samantha Lee / Business Insider) Because this is blockchain, everyone involved looks at the same contract; no one can change it without the permission of most others. Here's an example: When a truck picks up finished video game consoles from a factory in, say, China, the shipping company scans each box. Those are added to the blockchain, triggering a release of funds from the video game company's bank account. No one has to invoice and chase a payment. "You can marry up the delivery and payment of services," Brody said. It can go beyond getting paid, too. Each worker on the assembly line could scan their identification card, which is then verified by multiple sources such as government agencies and third-party auditors, ensuring the workers are not underage or overworked. And because it's a blockchain, no one can alter the record later. Some have discussed blockchain as a possible tool to help prevent sex trafficking and other scourges. And there are other uses for it that may become big parts of our lives. (Samantha Lee / Business Insider) Smart contracts in healthcare could do things such as trigger an insurance payment to a doctor when a patient undergoes a CT scan. A blockchain could also be a secure place to store electronic medical records. It would detail all patient-doctor communication, illness and treatment information, vaccination records, medical bills etc. Every subsequent doctor visit or treatment would be added to the blockchain, including those in different cities and countries, creating a complete, historical record of the patient's health. In this case, the blockchain is private, and only certain participants would have the encryption keys to see the record. Musicians may wish there had been blockchain when Napster undermined music sales around the turn of the century through file-sharing. (Blockchain could prevent music piracyFlickr/Kelsey) Now some are thinking blockchain could prevent piracy and help boost sales. Artists could provide their music directly off a ledger, and smart contracts might ensure the right people are paid and only those with rights play the tracks. A similar model could help fund news outlets and other media organizations. Some companies' whole job is tracking down property records. Blockchain could change that. If property deeds were on a blockchain, the other participants (known as "network nodes") that validate the transaction could be real-estate agents, financing banks, and a land registry authority. Once the transaction is validated, it is added to the blockchain, and the updated state of the blockchain is broadcast to the participants in real time. As the blockchain maintains the history of all transactions, the entire history of the property and its owners is on the blockchain. The Australian Securities Exchange — ASX — plans to decide by mid-2017 if it will replace its post-trade clearing and settlement systemwith a blockchain version. This could be a turning point for blockchain and potentially a catalyst for widespread adoption. (Bank of EnglandJim Edwards) Central bankers are also getting in on the action. The Bank of England and the People's Bank of China are discussing issuing their national currencies — the pound and the renminbi, respectively — on blockchain. If successful, the technology would make the currencies more traceable, allowing the banks to track them through the financial system in real time. Right now, this use of blockchain is limited to discussion and research papers, but if implemented, other central banks are likely to follow suit. The US Federal Reserve is closely following developments as well, with Fed Gov. Lael Brainard in charge of keeping an eye on the new technology. It's also rumored that other items such as diamonds, art, and food could be put on blockchain so the entire history of the items could be traced. There are over120 blockchain projectsspanning a variety of industries, and theannual budget for blockchain initiativesin 2016 is estimated to be $1 billion. In financial services, Goldman Sachs, JPMorgan Chase, and Bank of America are among the big names that have partnered withR3, a startuptrying to bring blockchain technology to the finance world. But if blockchain is going to work, it needs an industrywide standard. For the first bank to adopt this digital system and overhaul existing infrastructure, it could mean a risky and expensive investment, and that bank would have to hope others follow suit. No one wants to be the first to test that theory. That's why this is one of the few cutting-edge technologies that is generating a lot of talk but not a lot of action among banks. While they are dabbling in the technology, attending conferences and partnering with R3,no bank is taking the leadand going from proofs of concept to using it in the real world. "To get the true value, you need the network effect," said Graham Warner, head of global transaction banking product development in the Americas at Deutsche Bank. The more people and companies use blockchain, the more valuable the technology becomes. For all its promise, some major impediments could prevent blockchain's widespread deployment, including regulation, cost, and security issues. Implementing and standardizing blockchain could cost in the billions of dollars, and it would mean an overhaul of legacy systems that people are used to and understand. Today's technology works, and replacing it with something unproven is seen as an expensive risk. Blockchain technology would also potentially mean a huge number of job losses, especially in middle- and back-office functions. Banks would have to get the remaining employees up to speed on the new technology, and using it would initially be a trial-and-error process. (Ethereum) In August, hackers stole $72 million worth of bitcoin from accounts at the Hong Kong cryptocurrency exchange Bitfinex. And in June, hackers stole $55 million worth of ether, a bitcoin rival. The nonprofit that runs ether, Ethereum Foundation, just rolled back the chain. It's as if the hack never took place, and business returned to normal. But that worries purists. The Ethereum hack — and the response to it — led Accenture tocreatean "editable blockchain model," to "resolve human errors, accommodate legal and regulatory requirements, and address mischief and other issues," according to anews release. Blockchain enthusiasts say this threatens the very nature of the blockchain itself. One of the fundamental benefits of blockchain technology is its immutability — the blockchain represents a "golden record" of transactions, a complete, historical record that technically cannot be interfered with or undone. But there "isn't one blockchain to rule them all," Warner said. "It will be an evolutionary, Darwinian process" to figure out which version of the blockchain applies to which use case. When McNamara learned about blockchain, she said she was "a little bit of a skeptic. But I've been proven wrong." The ecosystem is evolving, she said, and people involved, whether they're activists or bankers, are getting together and talking about "shared values and pain points." (ASXAP) While some big players like the ASX may be using some form of blockchain as early as next year, some issues are holding blockchain back. Different versions of blockchain are in development, and there's little agreement on what's the best or purest version to deploy. And dozens of startups are working on their own takes on blockchain. Innovation is happening, but all the competing ideas makes big companies cautious to commit to any one type. But most proponents think everything will be worked out in due time, and that in the next few years, blockchain and its smart contracts would improve our lives, even if it operates quietly in the background, invisible to most people. NOW WATCH:Ken Rogoff explains why he's been advocating to eliminate the $100 bill More From Business Insider • Now is the worst time to buy a new computer • John Kasich's dire warning for the Republican Party: EVOLVE OR DIE • Amazon Prime members have access to one of the best smartphone deals out there right now \|\| Blockchain could soon power stock markets, music sales, and even prevent child labor — here's how it works: bi graphics_future of blockchain (.) It's a technology conceived by the mysterious creator of bitcoin — the digital currency championed by a motley crew of privacy-obsessed libertarians, social activists, and some criminals. Bank of America (AP Photo) Now the idea of blockchain has gripped Wall Street's biggest institutions. Its enthusiasts think it could change the world. Sure, it would make contracts more enforceable and speed up the settlement of stock trades — hence the interest from big banks. But some see it going much further, cracking down on sex trafficking , music piracy, and child labor. And the key to all that — what attracts these different factions — is something that, on the surface at least, sounds rather banal: a digital ledger, like the one in your checkbook. "Blockchain is a truly extraordinary technology that does really mundane things," said Paul Brody, Ernst & Young's global blockchain leader. But for all the promise, these big questions remain: Who will foot the bill, and is it really as secure as supporters say? What is blockchain? In the non-blockchain world, we keep separate records of transactions. If you write your friend a check, you balance your own checkbook and your friend does the same when they deposit it. But things can go wrong. They might forget to update their checkbook ledger. And each bank has no way to know immediately if the person has enough in their bank account to cover it. checkbook, checks, writing a check (Flickr / oblivion9999) With a blockchain, instead of two separate checkbooks with two records of debits and credits, you'd both look at the same ledger of transactions. It's private (encrypted, in computer-speak), and decentralized, so neither of you controls the ledger. This "distributed ledger" operates on consensus. Both of you can look at the ledger. Each transaction gets put into a block. If you both say that block is valid and correct, it's added to a chain. And that chain is protected by sophisticated cryptography: No one can change the chain after the fact. Now imagine this in a more complex form. This is what gets people in finance and technology excited. Say you want to buy a stock. Right now, your bank, brokerage, the stock exchange, and the company you're buying all have separate, private records of transactions. They can't see each other's ledgers. Nor can they verify that everything is accurate among all involved. With blockchain, they can all be on the same page — literally. Your bank can verify that you have enough money to transfer to your brokerage. That transfer is added to the ledger of transactions that everyone involved can see. Then your broker executes a trade for 100 shares. That gets added to the blockchain, too. Everyone involved verifies it's legitimate. Story continues The exchange receives the order — also added and verified. And then the company's shares end up in your account. You could see the record of all the shares you buy and sell in the permanent record. If you decide to sell the shares later, that transaction gets added to the blockchain. And because it's a consensus model in which every party confirms a transaction, "it gets more secure the more people you add" to the blockchain, Brody said. "When a transaction is completed, everyone has to get a copy of the transaction." That's blockchain in its purest form. In reality, however, different companies are experimenting with different forms. A blockchain used in financial services could be private, or a hybrid model between the decentralized vision and a more traditional centralized model that bankers are used to. A regulator, for instance, could hold the key to a blockchain, and some companies are thinking about how to maintain a middleman. Mysterious beginnings No one knows who invented blockchain. The idea for it came from a paper published online eight years ago that unveiled bitcoin, the digital currency. The author, Satoshi Nakamoto, is thought to be using a pseudonym. The true identity remains a mystery, and there's debate over whether it was created by an individual or group. At first, bitcoin got all the attention. The idea of a secure, private currency, divorced from a specific government, captured the imaginations of technologists, libertarians, and people concerned about the power of big banks and government regulation. Bitcoin transactions occur peer-to-peer, meaning no government or third party is involved. Goldman Sachs recruiting video (Goldman SachsYouTube/Goldman Sachs) Today, bitcoin and blockchain still attract privacy-minded and antigovernment types. But it also increasingly appeals to people like Grainne McNamara. She spent years building out technology at banks like Morgan Stanley and Goldman Sachs. Now she's a leader of PricewaterhouseCooper's blockchain for financial services. And that means she spends a lot of time attending and hosting blockchain conferences. At one, a speaker showed a picture of a shed in his presentation. McNamara remembers him jokingly saying, "Take the bankers behind the shed and kill them." He didn't know his audience. McNamara was sitting next to former bankers, who found the whole thing humorous, she said. Despite the shed metaphor, "it's a peaceful cohabitation," McNamara told Business Insider. "People genuinely appreciate the disruptive element to spawn innovation." A contract with a brain One area blockchain proponents get excited about is the idea of a "smart contract." While most bank agreements are still paper documents — banks are awash in paper, even in 2016 — a smart contract is a computer program that helps keeps everyone accountable. video games (People play a video game on the stand of Acer at the IFA Electronics show in Berlin, Germany, Sept. 2, 2015.Reuters/Axel Schmidt) Let's say you're a company that designs and sells video game consoles. You work with suppliers and shipping companies, and have a number of serious concerns. You want to make sure they're manufactured well and on time. You want to make sure there are no labor violations, such as children working on the assembly line. And you want to make sure everyone gets paid on time. In the old way of doing things, numerous contracts might be involved to manufacture one video game console. And each side may have its own paper copies. Smart contracts provide automated accountability. bi graphics a smart contract (Samantha Lee / Business Insider) Because this is blockchain, everyone involved looks at the same contract; no one can change it without the permission of most others. Here's an example: When a truck picks up finished video game consoles from a factory in, say, China, the shipping company scans each box. Those are added to the blockchain, triggering a release of funds from the video game company's bank account. No one has to invoice and chase a payment. "You can marry up the delivery and payment of services," Brody said. It can go beyond getting paid, too. Each worker on the assembly line could scan their identification card, which is then verified by multiple sources such as government agencies and third-party auditors, ensuring the workers are not underage or overworked. And because it's a blockchain, no one can alter the record later. Some have discussed blockchain as a possible tool to help prevent sex trafficking and other scourges. And there are other uses for it that may become big parts of our lives. Healthcare bi graphics possible uses for blockchain (Samantha Lee / Business Insider) Smart contracts in healthcare could do things such as trigger an insurance payment to a doctor when a patient undergoes a CT scan. A blockchain could also be a secure place to store electronic medical records. It would detail all patient-doctor communication, illness and treatment information, vaccination records, medical bills etc. Every subsequent doctor visit or treatment would be added to the blockchain, including those in different cities and countries, creating a complete, historical record of the patient's health. In this case, the blockchain is private, and only certain participants would have the encryption keys to see the record. Music and media Musicians may wish there had been blockchain when Napster undermined music sales around the turn of the century through file-sharing. Music (Blockchain could prevent music piracyFlickr/Kelsey) Now some are thinking blockchain could prevent piracy and help boost sales. Artists could provide their music directly off a ledger, and smart contracts might ensure the right people are paid and only those with rights play the tracks. A similar model could help fund news outlets and other media organizations. Property records Some companies' whole job is tracking down property records. Blockchain could change that. If property deeds were on a blockchain, the other participants (known as "network nodes") that validate the transaction could be real-estate agents, financing banks, and a land registry authority. Once the transaction is validated, it is added to the blockchain, and the updated state of the blockchain is broadcast to the participants in real time. As the blockchain maintains the history of all transactions, the entire history of the property and its owners is on the blockchain. Trading and banking The Australian Securities Exchange — ASX — plans to decide by mid-2017 if it will replace its post-trade clearing and settlement system with a blockchain version . This could be a turning point for blockchain and potentially a catalyst for widespread adoption. Bank of England (Bank of EnglandJim Edwards) Central bankers are also getting in on the action. The Bank of England and the People's Bank of China are discussing issuing their national currencies — the pound and the renminbi, respectively — on blockchain. If successful, the technology would make the currencies more traceable, allowing the banks to track them through the financial system in real time. Right now, this use of blockchain is limited to discussion and research papers, but if implemented, other central banks are likely to follow suit. The US Federal Reserve is closely following developments as well, with Fed Gov. Lael Brainard in charge of keeping an eye on the new technology. It's also rumored that other items such as diamonds, art, and food could be put on blockchain so the entire history of the items could be traced. Buzz vs. reality There are over 120 blockchain projects spanning a variety of industries, and the annual budget for blockchain initiatives in 2016 is estimated to be $1 billion. In financial services, Goldman Sachs, JPMorgan Chase, and Bank of America are among the big names that have partnered with R3, a startup trying to bring blockchain technology to the finance world. But if blockchain is going to work, it needs an industrywide standard. For the first bank to adopt this digital system and overhaul existing infrastructure, it could mean a risky and expensive investment, and that bank would have to hope others follow suit. No one wants to be the first to test that theory. That's why this is one of the few cutting-edge technologies that is generating a lot of talk but not a lot of action among banks. While they are dabbling in the technology, attending conferences and partnering with R3, no bank is taking the lead and going from proofs of concept to using it in the real world. "To get the true value, you need the network effect," said Graham Warner, head of global transaction banking product development in the Americas at Deutsche Bank. The more people and companies use blockchain, the more valuable the technology becomes. Other challenges For all its promise, some major impediments could prevent blockchain's widespread deployment, including regulation, cost, and security issues. Implementing and standardizing blockchain could cost in the billions of dollars, and it would mean an overhaul of legacy systems that people are used to and understand. Today's technology works, and replacing it with something unproven is seen as an expensive risk. Blockchain technology would also potentially mean a huge number of job losses, especially in middle- and back-office functions. Banks would have to get the remaining employees up to speed on the new technology, and using it would initially be a trial-and-error process. Security and privacy issues ethereum (Ethereum) In August, hackers stole $72 million worth of bitcoin from accounts at the Hong Kong cryptocurrency exchange Bitfinex. And in June, hackers stole $55 million worth of ether, a bitcoin rival. The nonprofit that runs ether, Ethereum Foundation, just rolled back the chain. It's as if the hack never took place, and business returned to normal. But that worries purists. The Ethereum hack — and the response to it — led Accenture to create an "editable blockchain model," to "resolve human errors, accommodate legal and regulatory requirements, and address mischief and other issues," according to a news release . Blockchain enthusiasts say this threatens the very nature of the blockchain itself. One of the fundamental benefits of blockchain technology is its immutability — the blockchain represents a "golden record" of transactions, a complete, historical record that technically cannot be interfered with or undone. But there "isn't one blockchain to rule them all," Warner said. "It will be an evolutionary, Darwinian process" to figure out which version of the blockchain applies to which use case. What's next When McNamara learned about blockchain, she said she was "a little bit of a skeptic. But I've been proven wrong." The ecosystem is evolving, she said, and people involved, whether they're activists or bankers, are getting together and talking about "shared values and pain points." ASX Australia Stock Exchange Trader (ASXAP) While some big players like the ASX may be using some form of blockchain as early as next year, some issues are holding blockchain back. Different versions of blockchain are in development, and there's little agreement on what's the best or purest version to deploy. And dozens of startups are working on their own takes on blockchain. Innovation is happening, but all the competing ideas makes big companies cautious to commit to any one type. But most proponents think everything will be worked out in due time, and that in the next few years, blockchain and its smart contracts would improve our lives, even if it operates quietly in the background, invisible to most people. NOW WATCH: Ken Rogoff explains why he's been advocating to eliminate the $100 bill More From Business Insider Now is the worst time to buy a new computer John Kasich's dire warning for the Republican Party: EVOLVE OR DIE Amazon Prime members have access to one of the best smartphone deals out there right now View comments \|\| Coen brothers are writing 'Dark Web,' the Silk Road movie: Heads up,Fargofans: Fox is making a movie calledDark Webabout Silk Road founderRoss Ulbricht, and the studioenlistedthe help of the Coen brothers. The siblings are on board to write the film's screenplay based on theWiredseries that tells the story of Ulbricht's empire and its fall in the hands of authorities. Silk Road was once a thriving online black market selling illegal drugs, weapons and even the services of hitmen, where buyers and sellers dealt in Bitcoins as their main currency. Ulbricht, who was known in the community under the pseudonym Dread Pirate Roberts, began building it back in 2010. Five years later, he wassentenced to lifein prison after he was convicted on seven charges of money laundering, drug trafficking, conspiracy and computer hacking, among other things. The controversial figure also ordered a hit on five people, including a blackmailer, according to a transcript of his conversations with assassins thatWiredpublished. While DPR paid for the hits,nobodyactually got killed. As if those elements weren't enough to make a good thriller, one of the federal agents who investigated the case alsoreceiveda six-and-a-half year sentence. He was found guilty of stealing $800,000 worth of Bitcoins from the marketplace while the feds were investigating the case. It's unclear if the Coen brothers will also directDark Web,but we're sure a lot of people will be thrilled if they sign up for that part, as well. Besides the crime thrillerFargo, they also directed and wrote a number of other award-winning films, includingTrue Grit,No Country for Old Menand Spielberg'sBridge of Spies. \|\| Coen brothers are writing 'Dark Web,' the Silk Road movie: Heads up, Fargo fans: Fox is making a movie called Dark Web about Silk Road founder Ross Ulbricht , and the studio enlisted the help of the Coen brothers. The siblings are on board to write the film's screenplay based on the Wired series that tells the story of Ulbricht's empire and its fall in the hands of authorities. Silk Road was once a thriving online black market selling illegal drugs, weapons and even the services of hitmen, where buyers and sellers dealt in Bitcoins as their main currency. Ulbricht, who was known in the community under the pseudonym Dread Pirate Roberts, began building it back in 2010. Five years later, he was sentenced to life in prison after he was convicted on seven charges of money laundering, drug trafficking, conspiracy and computer hacking, among other things. The controversial figure also ordered a hit on five people, including a blackmailer, according to a transcript of his conversations with assassins that Wired published . While DPR paid for the hits, nobody actually got killed. As if those elements weren't enough to make a good thriller, one of the federal agents who investigated the case also received a six-and-a-half year sentence. He was found guilty of stealing $800,000 worth of Bitcoins from the marketplace while the feds were investigating the case. It's unclear if the Coen brothers will also direct Dark Web, but we're sure a lot of people will be thrilled if they sign up for that part, as well. Besides the crime thriller Fargo , they also directed and wrote a number of other award-winning films, including True Grit , No Country for Old Men and Spielberg's Bridge of Spies . \|\| Payments In The Marijuana Industry: How Blockchain Can Increase Profit And Security: Blockchain was born with the bitcoin, conceived as a way to make databases secure but not managed by one single person. This allows “people who do not know or trust each other [to] build a dependable ledger,” an article fromThe Economistexplained. As the technology evolved and became more programmable, other applications like tracing a product’s identity/authenticity were found for it. In some cases, blockchain technologies have even managed to replace banks and services like those offered byPaypal Holdings Inc(NASDAQ:PYPL),Moneygram International Inc(NASDAQ:MGI) orThe Western Union Company(NYSE:WU), making transactions faster, cheaper and more secure. Related Link:You're So Money: NY Judge Rules Bitcoin Qualify As "Funds" “While software reduces global inequalities through intellectual capital, the blockchain today is helping to reduce global inequalities through financial capital,” Forbes contributor Jonathan Chester explained in arecent piece. The Marijuana Industry The legal marijuana industry often finds big hurdles in the banking system; afraid of federal regulators and the money laundering risk derived from such a cash intensive space, most banks don’t want to open accounts for these companies. In this vacuum, a few companies have come up with creative solutions. For instance,Tokken, provides online banking services to companies in the emerging marijuana industry. As per their site, they offer “safe payment methods to consumers, and a robust compliance platform to partner banks... [eliminating] the risk of money laundering by creating a virtual barrier to cash transactions.” “Using an indelible Blockchain ledger to ensure data integrity and a proprietary compliance program based on structured analytic techniques, Tokken is designed to comply with every relevant regulatory requirement and provide a sustainable banking solution for the cannabis,” the site added. CEO Lamine Zarrad recently sat down with Chester and explained that operating in cash costs the marijuana industry between 20 and 25 percent of its revenue. “This is typically lost through the costs of security, storage and shrinkage, a euphemism for employee theft,” he stated. “In order to get cash back into the banking systems, Marijuana companies will work with holding companies that will hold funds on behalf of the dispensary, which the dispensary can then access. In order to get funds into the accounts, these dispensaries need to hire groups of runners who take the cash to ATMs throughout the city to deposit cash in small batches.” But, how can the company achieve this without recurring to a bank? Related Link:Reads For The Weed-Kend: Franchising, Canada And Snoop Dogg, Damian Marley's Cannabis Prison Venture As Chester expounded, blockchains were created specifically to avoid banks while still meeting most audit requirements — as each transaction is both public and protected from “book-cooks.” Tokken, for example, notarizes its transactions via Tierion, a platform that “puts an immutably cryptographic summary of business records on the blockchain, which permits verification while maintaining customer privacy,” Chester concluded. Full ratings data available on Benzinga Pro. Do you have ideas for articles/interviews you'd like to see more of on Benzinga? Please email [email protected] with your best article ideas. One person will be randomly selected to win a $20 Amazon gift card! Disclosure: Javier Hasse holds no interest in any of the securities or entities mentioned above. See more from Benzinga • Apple, PayPal A Couple Of The Only Stocks That Traded Green Today © 2016 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. \|\| Payments In The Marijuana Industry: How Blockchain Can Increase Profit And Security: Blockchain was born with the bitcoin, conceived as a way to make databases secure but not managed by one single person. This allows “people who do not know or trust each other [to] build a dependable ledger,” an article from The Economist explained. As the technology evolved and became more programmable, other applications like tracing a product’s identity/authenticity were found for it. In some cases, blockchain technologies have even managed to replace banks and services like those offered by Paypal Holdings Inc (NASDAQ: PYPL ), Moneygram International Inc (NASDAQ: MGI ) or The Western Union Company (NYSE: WU ), making transactions faster, cheaper and more secure. Related Link: You're So Money: NY Judge Rules Bitcoin Qualify As "Funds" “While software reduces global inequalities through intellectual capital, the blockchain today is helping to reduce global inequalities through financial capital,” Forbes contributor Jonathan Chester explained in a recent piece . The Marijuana Industry The legal marijuana industry often finds big hurdles in the banking system; afraid of federal regulators and the money laundering risk derived from such a cash intensive space, most banks don’t want to open accounts for these companies. In this vacuum, a few companies have come up with creative solutions. For instance, Tokken , provides online banking services to companies in the emerging marijuana industry. As per their site, they offer “safe payment methods to consumers, and a robust compliance platform to partner banks... [eliminating] the risk of money laundering by creating a virtual barrier to cash transactions.” “Using an indelible Blockchain ledger to ensure data integrity and a proprietary compliance program based on structured analytic techniques, Tokken is designed to comply with every relevant regulatory requirement and provide a sustainable banking solution for the cannabis,” the site added. CEO Lamine Zarrad recently sat down with Chester and explained that operating in cash costs the marijuana industry between 20 and 25 percent of its revenue. “This is typically lost through the costs of security, storage and shrinkage, a euphemism for employee theft,” he stated. “In order to get cash back into the banking systems, Marijuana companies will work with holding companies that will hold funds on behalf of the dispensary, which the dispensary can then access. In order to get funds into the accounts, these dispensaries need to hire groups of runners who take the cash to ATMs throughout the city to deposit cash in small batches.” Story continues But, how can the company achieve this without recurring to a bank? Related Link: Reads For The Weed-Kend: Franchising, Canada And Snoop Dogg, Damian Marley's Cannabis Prison Venture As Chester expounded, blockchains were created specifically to avoid banks while still meeting most audit requirements — as each transaction is both public and protected from “book-cooks.” Tokken, for example, notarizes its transactions via Tierion, a platform that “puts an immutably cryptographic summary of business records on the blockchain, which permits verification while maintaining customer privacy,” Chester concluded. Full ratings data available on Benzinga Pro. Do you have ideas for articles/interviews you'd like to see more of on Benzinga? Please email [email protected] with your best article ideas. One person will be randomly selected to win a $20 Amazon gift card! Disclosure: Javier Hasse holds no interest in any of the securities or entities mentioned above. See more from Benzinga Apple, PayPal A Couple Of The Only Stocks That Traded Green Today © 2016 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. \|\| THMiners Release 2 New CryptoCurrency Miners: MOUNTAIN VIEW, CA / ACCESSWIRE / October 14, 2016 / THMiners Inc. ( www.THMiners.com ) has officially launched two new, highly powerful miners for Bitcoin and Litecoin, two of the leading cryptocurrencies in the world. The company has developed the minersBitcoin Miner 60/THs and Litecoin Miner 1200MH/sto enable users to more easily process digital transactions and quickly monitor the release of new digital coins. Each miner retails at $3,000 and comes with all of the necessary equipment, including the control unit, cabling and casing, making it fast and easy to set up and operate. "We are absolutely thrilled to launch these two new cryptocurrency miners and make them available to people located all around the world," said David Treeman, CEO of THMiners. "Our top priority is to make sure our products allow users to make the most out of the digital currency revolution that continues to grow on a global level." THMiners's new Litecoin Miner 1200 MH/s comes with the ability to mine both Litecoin and a variety of other cryptocurrencies across the globe. Both miners have undergone comprehensive testing throughout multiple stages of their manufacturing processes, ensuring the highest standards of quality possible. The company, based in California, has a team of specialists on staff with years of experience working closely with both Bitcoin and Litecoin hardware. In creating its cryptocurrency miners, the team uses only top-quality materials and components, making the products highly durable and long-lasting for users. THMiners only accepts payment in Bitcoin, provides an extended 5-year warranty to cover any types of failure in its products and offers free shipping to anywhere in the world via UPS or FedEx. Bitcoin and Litecoin have risen significantly in popularity over the past several years, with one Bitcoin currently worth about $600 U.S. dollars. Litecoin is now worth a more modest four U.S. dollars, but has been gradually on the rise since its launch in 2011. In fact, retailers, financial institutions and members of the public are increasingly viewing these cybercurrencies as viable alternatives to more traditional forms of money, which are vulnerable to socioeconomic and political shocks occurring with greater frequency worldwide. Story continues THMiners aims to deliver high-tech solutions for effectively and profitably mining cryptocurrencies, using proprietary components rather than sourcing them from outside parties. All of its hardware, including the chips that run its miners, is manufactured at the company's partner facilities in Asia. This gives THMiners the ability to maintain quality while offering its products at affordable prices. For more information on THMiners and its new cryptocurrency miners, please visit http://www.THMiners.com . SOURCE: THMiners Inc. via Submit Press Release 123 [Social Media Buzz] $631.54 #bitfinex; $627.92 #bitstamp; $628.92 #GDAX; $627.01 #btce; $629.00 #itBit; $625.94 #OKCoin; #bitcoin news: http://bit.ly/1VI6Yse \|\| 1 KOBO = 0.00000253 BTC = 0.0000 USD = 0.0000 NGN = 0.0000 ZAR = 0.0000 KES #Kobocoin 2016-10-19 11:00 pic.twitter.com/E4K8FB4h3q \|\| BTC-E LAST 632.45$ AVERAGE 634.00$ at 2:25 UTC #Bitcoin #BTCUSD \|\| #EuroCoin #EUC $0.000271 (-50.00%) 0.00000043 BTC (-49.37%) \|\| 1 KOBO = 0.00000243 BTC = 0.0015 USD = 0.4568 NGN = 0.0208 ZAR = 0.1518 KES ...	630.86, 632.83, 657.29, 657.07, 653.76, 657.59, 678.30, 688.31, 689.65, 714.48
Given the historical Bitcoin prices from the last 90 days, predict the next 10 daily closing prices. The historical prices are: 9194.85, 8269.81, 8300.86, 8338.35, 7916.88, 8223.68, 8630.65, 8913.47, 8929.28, 8728.47, 8879.62, 8668.12, 8495.78, 8209.40, 7833.04, 7954.48, 7165.70, 6890.52, 6973.53, 6844.23, 7083.80, 7456.11, 6853.84, 6811.47, 6636.32, 6911.09, 7023.52, 6770.73, 6834.76, 6968.32, 7889.25, 7895.96, 7986.24, 8329.11, 8058.67, 7902.09, 8163.42, 8294.31, 8845.83, 8895.58, 8802.46, 8930.88, 9697.50, 8845.74, 9281.51, 8987.05, 9348.48, 9419.08, 9240.55, 9119.01, 9235.92, 9743.86, 9700.76, 9858.15, 9654.80, 9373.01, 9234.82, 9325.18, 9043.94, 8441.49, 8504.89, 8723.94, 8716.79, 8510.38, 8368.83, 8094.32, 8250.97, 8247.18, 8513.25, 8418.99, 8041.78, 7557.82, 7587.34, 7480.14, 7355.88, 7368.22, 7135.99, 7472.59, 7406.52, 7494.17, 7541.45, 7643.45, 7720.25, 7514.47, 7633.76, 7653.98, 7678.24, 7624.92, 7531.98, 6786.02.	[Bitcoin Technical Analysis for 2018-06-10] Volume: 5804839936, RSI (14-day): 29.08, 50-day EMA: 8047.06, 200-day EMA: 8583.18 [Wider Market Context] None available. [Recent News (last 7 days)] CFTC Demands Trading Data From Bitcoin Exchanges In Price Manipulation Probe: cftc The US Commodity Futures Trading Commission (CFTC) has told certain bitcoin exchanges to provide extensive trading data to determine whether or not manipulation has distorted cryptocurrency markets, unnamed sources told The Wall Street Journal . Regulators opened the investigation after CME Group Inc. introduced bitcoin futures in December, according to the sources. The futures final values are based on prices from the Coinbase, Kraken, itBit and Bitstamp exchanges. Manipulation in those markets could distort bitcoin futures that are government regulated. CME Sought Data In January CME asked the exchanges to share trading data in January when its first futures contract settled, the sources said. Several exchanges chose not to comply, claiming CMEs request was invasive. When CME amended its request to a few hours worth of trading, the exchanges gave some data from a few participants. The CFTC, which had supported the bitcoin futures introduction which they saw as risky but worthwhile, became frustrated and subpoenaed the exchanges. CFTC Wanted Information Sharing Agreements The CFTC was concerned CME did not have agreements requiring markets to share bitcoin futures trading data. Such data would include trade times, canceled or unfilled orders, order sizes and the identities of the traders. CME approached a third-party company to calculate the bitcoin futures price, the sources said. The exchanges did not wish to provide the data to the London-based company, a company that has its own cryptocurrency trading platform. The CFTC was moved by the dispute over sharing the trading data to investigate whether or not there was collusion to manipulate the prices, the sources said. The CFTC is working with the Justice Department, which the sources claimed is investigating the manipulation of other cryptocurrencies. CME offers traders a variety of bitcoin futures for months into the future. The contract prices are determined the last Friday of the month and take into account the four bitcoin exchanges average price over an hour. Story continues CFTC And CME To Monitor Trades cryptocurrency derivatives CME and the CFTC are expected to monitor trading for that hour to determine whether individual trades distort the futures price. The exchanges are required to cooperate with investigations, according to Laurie Bischel, a CME spokeswoman. Bitstamp chose not to comment on the investigation, and Coinbase did not respond to a request for comment. Jesse Powell, Krakens chief executive, released a statement Friday claiming that the CFTCs newly declared oversight is causing the exchanges to question their index participation. He stated earlier this week that bitcoin market manipulation concerns were overstated, and that anyone attempting to manipulate the market is taking a big risk for minimum benefit. Charles Cascarilla, chief executive of the company operating itBit, said there is clear desire for stricter oversight. Also read: CFTC issues new guidance on cryptocurrency derivatives Price Manipulation Schemes The sources said there are various possible cryptocurrency trading schemes. In one strategy, called spoofing, traders make big orders to dupe others into raising their buy price, enabling the spoofer to sell at a higher price. The CFTC believes that because bitcoin is a commodity it has the power to investigate fraudulent trading, even if the exchanges are not required to follow the same rules as futures markets. In May, the CFTC announced there is a need for a higher level of monitoring the bitcoin market for exchanges that offer futures. Featured Image from Shutterstock The post CFTC Demands Trading Data From Bitcoin Exchanges In Price Manipulation Probe appeared first on CCN . \|\| CFTC Demands Trading Data From Bitcoin Exchanges In Price Manipulation Probe: The USCommodity Futures Trading Commission(CFTC) has told certain bitcoin exchanges to provide extensive trading data to determine whether or not manipulation has distorted cryptocurrency markets, unnamed sources toldThe Wall Street Journal. Regulators opened the investigation after CME Group Inc. introducedbitcoin futuresin December, according to the sources. The futures’ final values are based on prices from the Coinbase, Kraken, itBit and Bitstamp exchanges. Manipulation in those markets could distort bitcoin futures that are government regulated. CME asked the exchanges to share trading data in January when its first futures contract settled, the sources said. Several exchanges chose not to comply, claiming CME’s request was invasive. When CME amended its request to a few hours’ worth of trading, the exchanges gave some data from a few participants. The CFTC, which had supported the bitcoin futures’ introduction which they saw as risky but worthwhile, became frustrated and subpoenaed the exchanges. The CFTC was concerned CME did not have agreements requiring markets to share bitcoin futures trading data. Such data would include trade times, canceled or unfilled orders, order sizes and the identities of the traders. CME approached a third-party company to calculate the bitcoin futures price, the sources said. The exchanges did not wish to provide the data to the London-based company, a company that has its own cryptocurrency trading platform. The CFTC was moved by the dispute over sharing the trading data to investigate whether or not there was collusion to manipulate the prices, the sources said. The CFTC is working with the Justice Department, which the sources claimed is investigating the manipulation of other cryptocurrencies. CME offers traders a variety of bitcoin futures for months into the future. The contract prices are determined the last Friday of the month and take into account the four bitcoin exchanges’ average price over an hour. CME and the CFTC are expected to monitor trading for that hour to determine whether individual trades distort the futures price. The exchanges are required to cooperate with investigations, according to Laurie Bischel, a CME spokeswoman. Bitstamp chose not to comment on the investigation, and Coinbase did not respond to a request for comment. Jesse Powell, Kraken’s chief executive, released a statement Friday claiming that the CFTC’s “newly declared oversight” is causing the exchanges to question their index participation. He stated earlier this week that bitcoin market manipulation concerns were overstated, and that anyone attempting to manipulate the market is taking a big risk for minimum benefit. Charles Cascarilla, chief executive of the company operating itBit, said there is clear desire for stricter oversight. Also read:CFTC issues new guidance on cryptocurrency derivatives The sources said there are various possible cryptocurrency trading schemes. In one strategy, called “spoofing,” traders make big orders to dupe others into raising their buy price, enabling the spoofer to sell at a higher price. The CFTC believes that because bitcoin is a commodity it has the power to investigate fraudulent trading, even if the exchanges are not required to follow the same rules as futures markets. In May, theCFTC announced there is a need for a higher level of monitoringthe bitcoin market for exchanges that offer futures. Featured Image from Shutterstock The postCFTC Demands Trading Data From Bitcoin Exchanges In Price Manipulation Probeappeared first onCCN. \|\| CFTC Demands Trading Data From Bitcoin Exchanges In Price Manipulation Probe: The USCommodity Futures Trading Commission(CFTC) has told certain bitcoin exchanges to provide extensive trading data to determine whether or not manipulation has distorted cryptocurrency markets, unnamed sources toldThe Wall Street Journal. Regulators opened the investigation after CME Group Inc. introducedbitcoin futuresin December, according to the sources. The futures’ final values are based on prices from the Coinbase, Kraken, itBit and Bitstamp exchanges. Manipulation in those markets could distort bitcoin futures that are government regulated. CME asked the exchanges to share trading data in January when its first futures contract settled, the sources said. Several exchanges chose not to comply, claiming CME’s request was invasive. When CME amended its request to a few hours’ worth of trading, the exchanges gave some data from a few participants. The CFTC, which had supported the bitcoin futures’ introduction which they saw as risky but worthwhile, became frustrated and subpoenaed the exchanges. The CFTC was concerned CME did not have agreements requiring markets to share bitcoin futures trading data. Such data would include trade times, canceled or unfilled orders, order sizes and the identities of the traders. CME approached a third-party company to calculate the bitcoin futures price, the sources said. The exchanges did not wish to provide the data to the London-based company, a company that has its own cryptocurrency trading platform. The CFTC was moved by the dispute over sharing the trading data to investigate whether or not there was collusion to manipulate the prices, the sources said. The CFTC is working with the Justice Department, which the sources claimed is investigating the manipulation of other cryptocurrencies. CME offers traders a variety of bitcoin futures for months into the future. The contract prices are determined the last Friday of the month and take into account the four bitcoin exchanges’ average price over an hour. CME and the CFTC are expected to monitor trading for that hour to determine whether individual trades distort the futures price. The exchanges are required to cooperate with investigations, according to Laurie Bischel, a CME spokeswoman. Bitstamp chose not to comment on the investigation, and Coinbase did not respond to a request for comment. Jesse Powell, Kraken’s chief executive, released a statement Friday claiming that the CFTC’s “newly declared oversight” is causing the exchanges to question their index participation. He stated earlier this week that bitcoin market manipulation concerns were overstated, and that anyone attempting to manipulate the market is taking a big risk for minimum benefit. Charles Cascarilla, chief executive of the company operating itBit, said there is clear desire for stricter oversight. Also read:CFTC issues new guidance on cryptocurrency derivatives The sources said there are various possible cryptocurrency trading schemes. In one strategy, called “spoofing,” traders make big orders to dupe others into raising their buy price, enabling the spoofer to sell at a higher price. The CFTC believes that because bitcoin is a commodity it has the power to investigate fraudulent trading, even if the exchanges are not required to follow the same rules as futures markets. In May, theCFTC announced there is a need for a higher level of monitoringthe bitcoin market for exchanges that offer futures. Featured Image from Shutterstock The postCFTC Demands Trading Data From Bitcoin Exchanges In Price Manipulation Probeappeared first onCCN. \|\| Aussie, Kiwi Underpinned by Increased Appetite for Risky Assets: The U.S. Dollar finished lower against most major currencies last week with the price action primarily driven by a strong recovery in the Euro. Economic data was scare last week so investors had to rely on headlines. Most of the headlines dealt with geopolitical events including this week-ends G-7 summit, trade issues and President Trumps upcoming meeting with North Korean leader Kim Jong-un on June 12. June U.S. Dollar Index futures settled at 93.537, down 0.632 or -0.67%. Japanese Yen The Dollar/Yen finished higher last week as investors continued to react to rising Treasury yields and expectations that the U.S. Federal Reserve will raise interest rates 25 basis points this week. The Dollar/Yen was also pressured by strong demand for higher risk assets. Trading was light because economic reports were scare and the Fed speakers were in their quiet period. Last week, the USD/JPY settled at 109.539, down 0.163 or -0.15%. Australian Dollar The Australian Dollar rose sharply early in the week, but the rally faded as investors reacted to not so friendly domestic economic data, trade war fears and the upcoming interest rate hike by the Fed. Aussie traders also expressed some concerns over renewed talk of problems in emerging markets. The AUD/USD settled at .7598, up 0.0029 or +0.39%. The week started with the Australian government reporting stronger than expected retail sales data. Retail Sales came in up 0.4% after coming in flat the month before. Traders were looking for a rise of 0.3%. The Reserve Bank of Australia delivered a familiar message early in the week saying they were happy with the economy, but still not ready to make a move on interest rates. The RBA left its benchmark interest rate at 1.50% for the 20 th consecutive meeting, the longest span in history. Additionally, investors priced in the chances of the next rate hike for November 2019. Australian GDP came in at 1.0%, beating the 0.9% estimate. Additionally, 2017 fourth quarter GDP was revised upward to 0.5%. Prices spiked on the news, however, the rally stalled when investors realized that this type of growth would not be sustained. The AUD/USD rally started to fade and the Forex pair ended the week with two-straight sessions of losses after the trade balance came in at 0.98 Billion. Although the number matched the estimate, it was still well below the upwardly revised previous report of 1.73 Billion. New Zealand Dollar The New Zealand Dollar posted a small gain last week. There were no major domestic reports so investors piggy-backed the rally in the Australian Dollar. Oversold conditions and increased demand for higher risk assets also drove the Kiwi higher. Story continues The NZD/USD settled at .7030, up 0.0043 or +0.62%. This article was originally posted on FX Empire More From FXEMPIRE: Comex High Grade Copper Price Futures (HG) Technical Analysis In Position to Make New High for Year if Strike Continues Aussie, Kiwi Underpinned by Increased Appetite for Risky Assets Bitcoin Cash, Litecoin and Ripple Daily Analysis 09/06/18 Bitcoin has quiet yet negative week The Week Ahead Trump, The ECB, the FED, North Korea and Trade in Focus US stock markets rally for the week View comments \|\| Aussie, Kiwi Underpinned by Increased Appetite for Risky Assets: The U.S. Dollar finished lower against most major currencies last week with the price action primarily driven by a strong recovery in the Euro. Economic data was scare last week so investors had to rely on headlines. Most of the headlines dealt with geopolitical events including this week-end’s G-7 summit, trade issues and President Trump’s upcoming meeting with North Korean leader Kim Jong-un on June 12. June U.S. Dollar Indexfutures settled at 93.537, down 0.632 or -0.67%. The Dollar/Yen finished higher last week as investors continued to react to rising Treasury yields and expectations that the U.S. Federal Reserve will raise interest rates 25 basis points this week. The Dollar/Yen was also pressured by strong demand for higher risk assets. Trading was light because economic reports were scare and the Fed speakers were in their quiet period. Last week, theUSD/JPYsettled at 109.539, down 0.163 or -0.15%. The Australian Dollar rose sharply early in the week, but the rally faded as investors reacted to not so friendly domestic economic data, trade war fears and the upcoming interest rate hike by the Fed. Aussie traders also expressed some concerns over renewed talk of problems in emerging markets. TheAUD/USDsettled at .7598, up 0.0029 or +0.39%. The week started with the Australian government reporting stronger than expected retail sales data. Retail Sales came in up 0.4% after coming in flat the month before. Traders were looking for a rise of 0.3%. The Reserve Bank of Australia delivered a familiar message early in the week saying they were happy with the economy, but still not ready to make a move on interest rates. The RBA left its benchmark interest rate at 1.50% for the 20thconsecutive meeting, the longest span in history. Additionally, investors priced in the chances of the next rate hike for November 2019. Australian GDP came in at 1.0%, beating the 0.9% estimate. Additionally, 2017 fourth quarter GDP was revised upward to 0.5%. Prices spiked on the news, however, the rally stalled when investors realized that this type of growth would not be sustained. The AUD/USD rally started to fade and the Forex pair ended the week with two-straight sessions of losses after the trade balance came in at 0.98 Billion. Although the number matched the estimate, it was still well below the upwardly revised previous report of 1.73 Billion. The New Zealand Dollar posted a small gain last week. There were no major domestic reports so investors piggy-backed the rally in the Australian Dollar. Oversold conditions and increased demand for higher risk assets also drove the Kiwi higher. TheNZD/USDsettled at .7030, up 0.0043 or +0.62%. Thisarticlewas originally posted on FX Empire • Comex High Grade Copper Price Futures (HG) Technical Analysis – In Position to Make New High for Year if Strike Continues • Aussie, Kiwi Underpinned by Increased Appetite for Risky Assets • Bitcoin Cash, Litecoin and Ripple Daily Analysis – 09/06/18 • Bitcoin has quiet yet negative week • The Week Ahead – Trump, The ECB, the FED, North Korea and Trade in Focus • US stock markets rally for the week \|\| Tech Stocks This Week: Microsoft's Acquisition, DocuSign's Stellar Quarter, and More: Tech companies made some big headlines during the week. After software-giant Microsoft (NASDAQ: MSFT) kicked off the week with an announcement of a major acquisition, other interesting news in tech included Apple 's (NASDAQ: AAPL) supply-chain rumors and DocuSign 's (NASDAQ: DOCU) impressive quarterly results for its first reported quarter as a publicly traded company. Here's a look at what investors should know about each of these tech stories. The word "technology" on top of computing codes Image source: Getty Images. Microsoft bets on open-source software development On Monday, Microsoft announced it had reached an agreement to acquire open-source software development platform GitHub for $7.5 billion worth of Microsoft stock. With 28 million developers coding openly on GitHub, the acquisition signals Microsoft's bet both on the expectations of growth in programming and an open-source future. "Microsoft is a developer-first company, and by joining forces with GitHub we strengthen our commitment to developer freedom, openness and innovation," said Microsoft CEO Satya Nadella in a press release about the acquisition. Microsoft also said GitHub will operate independently: "Developers will continue to be able to use the programming languages, tools and operating systems of their choice for their projects -- and will still be able to deploy their code to any operating system, any cloud and any device." GitHub has estimated annualized revenue of about $300 million, so it's tough to justify the deal's $7.5 billion value. But Microsoft believes it can help scale GitHub's business, which is already growing rapidly. Ignore these supply-chain rumors Shares of Apple fell as much as 2% in premarket trading on Friday following a report from Nikkei Asian Review saying Apple told suppliers to plan for 20% lower component orders for iPhones this year compared to last year. This news surfaced at the time when Apple is usually lining up suppliers for its annual fall launch of new iPhone models, so this news spooked some investors. But Apple stock recovered some of its premarket decline during the trading day, with shares finishing Friday down only 0.9%. Story continues Investors should be cautious about reading things into Apple's supply-chain rumors. Given the company's sprawling global network of suppliers and the variety of different iPhone models Apple keeps in its product lineup even as it launches new iPhones, predicting iPhone sales based on supply-chain rumors is a difficult -- if not impossible -- task. Indeed, Apple CEO Tim Cook has specifically warned investors not to read anything into supply-chain rumors. DocuSign DocuSign soared 37% on the day of its initial public offering in April, and investors have big expectations for the e-signature and cloud-based document company. The company already is proving bullish investors right as it reported a stellar first quarter of fiscal 2019, which sent shares about 3.5% higher on Friday. For DocuSign's first quarter, revenue jumped 37% year over year, to $155.8 million. In addition, DocuSign's non- GAAP gross profit margin notably improved from 78% in the year-ago quarter to 80% in its first quarter of fiscal 2018. DocuSign CEO Dan Springer cited the company's international business, where it saw "strong growth, expansion and development," as a key driver of revenue growth. DocuSign's international sales increased 52% year over year during the quarter. Shares have nearly doubled DocuSign's IPO price of $29. More From The Motley Fool 3 Growth Stocks at Deep-Value Prices 5 Expected Social Security Changes in 2018 6 Years Later, 6 Charts That Show How Far Apple, Inc. Has Come Since Steve Jobs' Passing 10 Best Stocks to Buy Today The $16,122 Social Security Bonus You Cannot Afford to Miss Bitcoin's Biggest Competitor Isn't Ethereum -- It's This Teresa Kersten is an employee of LinkedIn and is a member of The Motley Fool's board of directors. LinkedIn is owned by Microsoft. Daniel Sparks owns shares of Apple. The Motley Fool owns shares of and recommends Apple. The Motley Fool has the following options: long January 2020 $150 calls on Apple and short January 2020 $155 calls on Apple. The Motley Fool has a disclosure policy . \|\| Tech Stocks This Week: Microsoft's Acquisition, DocuSign's Stellar Quarter, and More: Tech companies made some big headlines during the week. After software-giantMicrosoft(NASDAQ: MSFT)kicked off the week with an announcement of a major acquisition, other interesting news in tech includedApple's(NASDAQ: AAPL)supply-chain rumors andDocuSign's(NASDAQ: DOCU)impressive quarterly results for its first reported quarter as a publicly traded company. Here's a look at what investors should know about each of these tech stories. Image source: Getty Images. On Monday, Microsoft announced it had reached an agreement to acquire open-source software development platform GitHub for $7.5 billion worth of Microsoft stock. With 28 million developers coding openly on GitHub, the acquisition signals Microsoft's bet both on the expectations of growth in programming and an open-source future. "Microsoft is a developer-first company, and by joining forces with GitHub we strengthen our commitment to developer freedom, openness and innovation," said Microsoft CEO Satya Nadella in a press release about the acquisition. Microsoft also said GitHub will operate independently: "Developers will continue to be able to use the programming languages, tools and operating systems of their choice for their projects -- and will still be able to deploy their code to any operating system, any cloud and any device." GitHub has estimated annualized revenue of about $300 million, so it's tough to justify the deal's $7.5 billion value. But Microsoft believes it can help scale GitHub's business, which is already growing rapidly. Shares of Apple fell as much as 2% in premarket trading on Friday following a report fromNikkei Asian Reviewsaying Apple told suppliers to plan for 20% lower component orders for iPhones this year compared to last year. This news surfaced at the time when Apple is usually lining up suppliers for its annual fall launch of new iPhone models, so this news spooked some investors. But Apple stock recovered some of its premarket decline during the trading day, with shares finishing Friday down only 0.9%. Investors should be cautious about reading things into Apple's supply-chain rumors. Given the company's sprawling global network of suppliers and the variety of different iPhone models Apple keeps in its product lineup even as it launches new iPhones, predicting iPhone sales based on supply-chain rumors is a difficult -- if not impossible -- task. Indeed, Apple CEO Tim Cook hasspecifically warned investorsnot to read anything into supply-chain rumors. DocuSign soared 37% on the day ofits initial public offeringin April, and investors have big expectations for the e-signature and cloud-based document company. The company already is proving bullish investors right as it reported a stellar first quarter of fiscal 2019, which sent shares about 3.5% higher on Friday. For DocuSign's first quarter, revenue jumped 37% year over year, to $155.8 million. In addition, DocuSign's non-GAAPgross profit margin notably improved from 78% in the year-ago quarter to 80% in its first quarter of fiscal 2018. DocuSign CEO Dan Springer cited the company's international business, where it saw "strong growth, expansion and development," as a key driver of revenue growth. DocuSign's international sales increased 52% year over year during the quarter. Shares have nearly doubled DocuSign's IPO price of $29. More From The Motley Fool • 3 Growth Stocks at Deep-Value Prices • 5 Expected Social Security Changes in 2018 • 6 Years Later, 6 Charts That Show How Far Apple, Inc. Has Come Since Steve Jobs' Passing • 10 Best Stocks to Buy Today • The $16,122 Social Security Bonus You Cannot Afford to Miss • Bitcoin's Biggest Competitor Isn't Ethereum -- It's This Teresa Kersten is an employee of LinkedIn and is a member of The Motley Fool's board of directors. LinkedIn is owned by Microsoft.Daniel Sparksowns shares of Apple. The Motley Fool owns shares of and recommends Apple. The Motley Fool has the following options: long January 2020 $150 calls on Apple and short January 2020 $155 calls on Apple. The Motley Fool has adisclosure policy. \|\| 2 Internet Stocks That Have a Killer Advantage: Digital advertising is a megatrend that's benefiting pretty much anyone with a toe in digital media. We've seen a rush of traditional media companies, telecoms, and just about everyone else trying to get into digital media just to capitalize on the strong secular trend toward digital advertising . And despite the growth in competition over the last few years, Facebook (NASDAQ: FB) and Alphabet (NASDAQ: GOOG) (NASDAQ: GOOGL) subsidiary Google continue to completely dominate the space, combining to take the majority of digital ad sales in the United States. What's more, by some estimates, the companies continue to gain market share despite their dominant positions. That growth stems from the companies' killer advantage in digital advertising: producing better returns for their marketing partners than any of their competitors. A graphic of a bar chart coming out of a tablet computer. Image source: Getty Images. It starts with the audience Facebook and Google have massive audiences across their various products. Google boasts seven different products with over 1 billion users: Search, Android, YouTube, Chrome, Maps, Google Play, and Gmail. Google Assistant and Google Photos likely aren't too far behind. Facebook, meanwhile, has over 2 billion users on its flagship app, 1.5 billion WhatsApp users, 1.3 billion Messenger users, and 800 million Instagram users. What's more, the audience is extremely engaged. YouTube users spend an average of over 1 hour per day streaming video just on mobile. Google searches are increasing as more consumers now have access to Google Search on their phones or via smart speakers. That same trend is pushing more people to use Google Play for app purchases. Meanwhile, Facebook's 2 billion-plus users spend around half an hour per day in the app. Add another 20 minutes to 30 minutes on Instagram. And there are billions of messages sent everyday on WhatsApp and Messenger. While competing apps like Snap 's (NYSE: SNAP) Snapchat boast average engagement of over 30 minutes per day, and consumers still watch hours and hours of television every day, Facebook and Google really shine by aggregating user data and using it to target advertisements. That targeting data on such a broad audience is what really gives the companies a killer advantage. Getting the right ad in front of the right person at the right time There's a great quote from John Wanamaker, a late-19th century department store merchant, about marketing: "Half the money I spend on advertising is wasted; the trouble is, I don't know which half." Facebook COO Sheryl Sandberg doesn't think that has to be true anymore. Story continues Not only do Facebook and Google have constantly improving measurement capabilities to show advertisers just how well their campaigns are performing (solving the second half of Wanamaker's quote), they have the data and technology to put ads in front of the right person at the right time in order to improve conversion in the first place (solving for the first half). Of course, competitors like Snap and other digital media and advertising companies will argue they can do the same thing. But none can do it at the level of Facebook and Google for most advertisers. In a survey of U.S. ad buyers in December, 86% specifically said a Google or Facebook product produced the highest return on investment. And while fringe cases may find better returns on Snapchat or other platforms, Facebook's and Google's broad audiences ensure they produce the best returns for the vast majority of advertisers. That's a killer advantage that's tough for anyone to overcome. Not only does a company have to build a multibillion-person audience, they have to produce ad products that provide value, and targeting capabilities to make sure they convert well. I don't see that happening anytime soon, and I expect Facebook and Google to continue to benefit from the megatrend toward digital advertising. More From The Motley Fool 3 Growth Stocks at Deep-Value Prices 5 Expected Social Security Changes in 2018 6 Years Later, 6 Charts That Show How Far Apple, Inc. Has Come Since Steve Jobs' Passing 10 Best Stocks to Buy Today The $16,122 Social Security Bonus You Cannot Afford to Miss Bitcoin's Biggest Competitor Isn't Ethereum -- It's This Suzanne Frey, an executive at Alphabet, is a member of The Motley Fool's board of directors. Adam Levy owns shares of Alphabet (C shares) and Facebook. The Motley Fool owns shares of and recommends Alphabet (A and C shares) and Facebook. The Motley Fool has a disclosure policy . View comments \|\| 2 Internet Stocks That Have a Killer Advantage: Digital advertising is a megatrend that's benefiting pretty much anyone with a toe in digital media. We've seen a rush of traditional media companies, telecoms, and just about everyone else trying to get into digital media just to capitalize on thestrong secular trend toward digital advertising. And despite the growth in competition over the last few years,Facebook(NASDAQ: FB)andAlphabet(NASDAQ: GOOG)(NASDAQ: GOOGL)subsidiary Google continue to completely dominate the space, combining to take the majority of digital ad sales in the United States. What's more, by some estimates, the companies continue to gain market share despite their dominant positions. That growth stems from the companies' killer advantage in digital advertising: producing better returns for their marketing partners than any of their competitors. Image source: Getty Images. Facebook and Google have massive audiences across their various products. Google boasts seven different products with over 1 billion users: Search, Android, YouTube, Chrome, Maps, Google Play, and Gmail. Google Assistant and Google Photos likely aren't too far behind. Facebook, meanwhile, has over 2 billion users on its flagship app, 1.5 billion WhatsApp users, 1.3 billion Messenger users, and 800 million Instagram users. What's more, the audience is extremely engaged. YouTube users spend an average of over 1 hour per day streaming video just on mobile. Google searches are increasing as more consumers now have access to Google Search on their phones or via smart speakers. That same trend is pushing more people to use Google Play for app purchases. Meanwhile, Facebook's 2 billion-plus users spend aroundhalf an hour per dayin the app. Add another 20 minutes to 30 minutes on Instagram. And there are billions of messages sent everyday on WhatsApp and Messenger. While competing apps likeSnap's(NYSE: SNAP)Snapchat boast average engagement of over 30 minutes per day, and consumers still watch hours and hours of television every day, Facebook and Google really shine by aggregating user data and using it to target advertisements. That targeting data on such a broad audience is what really gives the companies a killer advantage. There's a great quote from John Wanamaker, a late-19th century department store merchant, about marketing: "Half the money I spend on advertising is wasted; the trouble is, I don't know which half." Facebook COO Sheryl Sandberg doesn't think that has to be true anymore. Not only do Facebook and Google have constantly improving measurement capabilities to show advertisers just how well their campaigns are performing (solving the second half of Wanamaker's quote), they have the data and technology to put ads in front of the right person at the right time in order to improve conversion in the first place (solving for the first half). Of course, competitors like Snap and other digital media and advertising companies will argue they can do the same thing. But none can do it at the level of Facebook and Google for most advertisers. In a survey of U.S. ad buyers in December, 86% specifically said a Google or Facebook product produced the highest return on investment. And while fringe cases may find better returns on Snapchat or other platforms, Facebook's and Google's broad audiences ensure they produce the best returns for the vast majority of advertisers. That's a killer advantage that's tough for anyone to overcome. Not only does a company have to build a multibillion-person audience, they have to produce ad products that provide value, and targeting capabilities to make sure they convert well. I don't see that happening anytime soon, and I expect Facebook and Google to continue to benefit from the megatrend toward digital advertising. More From The Motley Fool • 3 Growth Stocks at Deep-Value Prices • 5 Expected Social Security Changes in 2018 • 6 Years Later, 6 Charts That Show How Far Apple, Inc. Has Come Since Steve Jobs' Passing • 10 Best Stocks to Buy Today • The $16,122 Social Security Bonus You Cannot Afford to Miss • Bitcoin's Biggest Competitor Isn't Ethereum -- It's This Suzanne Frey, an executive at Alphabet, is a member of The Motley Fool's board of directors.Adam Levyowns shares of Alphabet (C shares) and Facebook. The Motley Fool owns shares of and recommends Alphabet (A and C shares) and Facebook. The Motley Fool has adisclosure policy. \|\| Why OPKO Health, Inc. Stock Rocketed Higher in May: Shares of the diversified healthcare companyOpko Health, Inc.(NASDAQ: OPK)gained a healthy 27.6% last month, according toS&P Global Market Intelligence. What sparked this double-digit rally? Opko's shares surged higher last month in response to a strongfirst-quarter earnings reportthat topped Wall Street's revenue forecast by a stately $18 million. Image Source: Getty Images. Over the past few years, Opko's shares have struggled mightily due to the poor commercial launches of the company's prostate cancer test known as 4Kscore, as well as the secondary hyperparathyroidism drug Rayaldee. In the first quarter of this year, however, Opko reported that Rayaldee's prescriptions rose by a healthy 730% year over year, giving investors hope that this key drug may finally start to become a major growth driver moving forward. Unfortunately, Opko ended last month on a sour note. The company reported that the Medicare Administrative Contractor, Novitas Solutions, released a draft policy that would deny coverage for Opko's 4Kscore test. While Opko does have a chance to offer a rebuttal to this initial guidance early next month, this forthcoming coverage decision could become a major overhang for the company. Despite 4kscore's anemic sales so far, Opko has been counting on it to eventually transform into a blockbuster product. Compounding matters, Opko clearly needs to raise additional capital soon based on its last stated cash balance of less than $100 million and a current quarterly burn rate that presently exceeds a whopping $43 million. When looked at together, Opko's weak financial position and 4Kscore's shaky reimbursement status arguably make this stock far too risky to own at this point. More From The Motley Fool • 3 Growth Stocks at Deep-Value Prices • 5 Expected Social Security Changes in 2018 • 6 Years Later, 6 Charts That Show How Far Apple, Inc. Has Come Since Steve Jobs' Passing • 10 Best Stocks to Buy Today • The $16,122 Social Security Bonus You Cannot Afford to Miss • Bitcoin's Biggest Competitor Isn't Ethereum -- It's This George Budwellhas no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has adisclosure policy. \|\| Why OPKO Health, Inc. Stock Rocketed Higher in May: What happened Shares of the diversified healthcare company Opko Health, Inc. (NASDAQ: OPK) gained a healthy 27.6% last month, according to S&P Global Market Intelligence . What sparked this double-digit rally? Opko's shares surged higher last month in response to a strong first-quarter earnings report that topped Wall Street's revenue forecast by a stately $18 million. A series of stacked coins with seedlings sprouting on top. Image Source: Getty Images. So what Over the past few years, Opko's shares have struggled mightily due to the poor commercial launches of the company's prostate cancer test known as 4Kscore, as well as the secondary hyperparathyroidism drug Rayaldee. In the first quarter of this year, however, Opko reported that Rayaldee's prescriptions rose by a healthy 730% year over year, giving investors hope that this key drug may finally start to become a major growth driver moving forward. Now what Unfortunately, Opko ended last month on a sour note. The company reported that the Medicare Administrative Contractor, Novitas Solutions, released a draft policy that would deny coverage for Opko's 4Kscore test. While Opko does have a chance to offer a rebuttal to this initial guidance early next month, this forthcoming coverage decision could become a major overhang for the company. Despite 4kscore's anemic sales so far, Opko has been counting on it to eventually transform into a blockbuster product. Compounding matters, Opko clearly needs to raise additional capital soon based on its last stated cash balance of less than $100 million and a current quarterly burn rate that presently exceeds a whopping $43 million. When looked at together, Opko's weak financial position and 4Kscore's shaky reimbursement status arguably make this stock far too risky to own at this point. More From The Motley Fool 3 Growth Stocks at Deep-Value Prices 5 Expected Social Security Changes in 2018 6 Years Later, 6 Charts That Show How Far Apple, Inc. Has Come Since Steve Jobs' Passing 10 Best Stocks to Buy Today The $16,122 Social Security Bonus You Cannot Afford to Miss Bitcoin's Biggest Competitor Isn't Ethereum -- It's This George Budwell has no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy . \|\| Why Turtle Beach Stock Rocketed 216% in May: What happened Turtle Beach (NASDAQ: HEAR) stock rocketed up 216.4% in May, according to data from S&P; Global Market Intelligence , dwarfing the S&P 500 's 2.4% return for the month. Shares of the gaming headset maker have continued to move higher in June, bringing their year-to-date 2018 gain to a whopping 1,010% through Friday, June 8. Seven of Turtle Beach's gaming headset models lined up horizontally with company name and logo and phrase Image source: Turtle Beach. So what Turtle Beach stock's huge May gain was driven by the company's release on May 9 of strong first-quarter 2018 financial results, along with management significantly increasing its full-year 2018 guidance. The stock soared nearly 65% the following trading day and continued to climb the remainder of the month. In the first quarter, Turtle Beach's net sales surged 185% year over year, to $40.9 million, while net income came in at $2.0 million, or $0.16 per share, compared to a net loss of $9.9 million, or $0.81 per share, in the first quarter of 2017. For full-year 2018, management now expects revenue to increase 37% year over year to about $205 million, up from its $157 million outlook issued in March. And it now projects earnings per share (EPS) of $0.95 versus a loss of $0.26 per share in 2017. Its previous guidance was for a loss of $0.12 per share. Turtle Beach's growth is primarily being driven by the phenomenal popularity of Epic Games' Fortnite Battle Royale and PUBG Corp.'s PlayerUnknown's Battlegrounds (PUBG) . Communicating with other players is important in these battle royale genre video games, which are survivalist games where the last person standing wins, so players need headsets. Now what Where Turtle Beach's stock goes from here will heavily depend upon whether the battle royale gaming craze has staying power. One thing that's certain is that Turtle Beach stock is very volatile, making it only suitable for investors with high risk tolerances. More From The Motley Fool 3 Growth Stocks at Deep-Value Prices 5 Expected Social Security Changes in 2018 6 Years Later, 6 Charts That Show How Far Apple, Inc. Has Come Since Steve Jobs' Passing 10 Best Stocks to Buy Today The $16,122 Social Security Bonus You Cannot Afford to Miss Bitcoin's Biggest Competitor Isn't Ethereum -- It's This Beth McKenna has no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy . \|\| Why Turtle Beach Stock Rocketed 216% in May: What happened Turtle Beach (NASDAQ: HEAR) stock rocketed up 216.4% in May, according to data from S&P; Global Market Intelligence , dwarfing the S&P 500 's 2.4% return for the month. Shares of the gaming headset maker have continued to move higher in June, bringing their year-to-date 2018 gain to a whopping 1,010% through Friday, June 8. Seven of Turtle Beach's gaming headset models lined up horizontally with company name and logo and phrase Image source: Turtle Beach. So what Turtle Beach stock's huge May gain was driven by the company's release on May 9 of strong first-quarter 2018 financial results, along with management significantly increasing its full-year 2018 guidance. The stock soared nearly 65% the following trading day and continued to climb the remainder of the month. In the first quarter, Turtle Beach's net sales surged 185% year over year, to $40.9 million, while net income came in at $2.0 million, or $0.16 per share, compared to a net loss of $9.9 million, or $0.81 per share, in the first quarter of 2017. For full-year 2018, management now expects revenue to increase 37% year over year to about $205 million, up from its $157 million outlook issued in March. And it now projects earnings per share (EPS) of $0.95 versus a loss of $0.26 per share in 2017. Its previous guidance was for a loss of $0.12 per share. Turtle Beach's growth is primarily being driven by the phenomenal popularity of Epic Games' Fortnite Battle Royale and PUBG Corp.'s PlayerUnknown's Battlegrounds (PUBG) . Communicating with other players is important in these battle royale genre video games, which are survivalist games where the last person standing wins, so players need headsets. Now what Where Turtle Beach's stock goes from here will heavily depend upon whether the battle royale gaming craze has staying power. One thing that's certain is that Turtle Beach stock is very volatile, making it only suitable for investors with high risk tolerances. More From The Motley Fool 3 Growth Stocks at Deep-Value Prices 5 Expected Social Security Changes in 2018 6 Years Later, 6 Charts That Show How Far Apple, Inc. Has Come Since Steve Jobs' Passing 10 Best Stocks to Buy Today The $16,122 Social Security Bonus You Cannot Afford to Miss Bitcoin's Biggest Competitor Isn't Ethereum -- It's This Beth McKenna has no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy . \|\| Hype For One Activision Blizzard Franchise Should Excite Investors: On the heels of strong sales of the 2017 release of Call of Duty: WWII , Activision Blizzard (NASDAQ: ATVI) recently announced the next installment of the series will be Call of Duty: Black Ops 4 . Its predecessor, Black Ops III (2015), has been so popular that the company continues to support that game with additional content for players to purchase while playing. It's possible that Black Ops 4 , which will launch on Oct. 12, could surpass its predecessor's popularity to become the top-selling Call of Duty game in the series's history. Based on the high interest it's garnering on social media and the game's focus on multiplayer gameplay, those weighty expectations may not be out of reach. Graphic art of military soldier firing a weapon with the Call of Duty Black Ops 4 logo in the bottom right corner. Image source: Activision Blizzard. Black Ops 4 is trending The Black Ops 4 live stream set new records as the most watched game unveiling in Call of Duty history. It was the top trending topic on Twitter globally during the announcement. In total, views for the live stream, official trailers, and other videos have already exceeded 80 million. Online views for game trailers, etc., have proven to be a reasonably good indicator of sales. For example, last year's Call of Duty: WWII received significantly more online views over the previous year's Infinite Warfare version, which translated to a strong launch in fall 2017. Call of Duty: WWII was the top-grossing console game worldwide in 2017, which is almost an annual tradition for the franchise. Based on strong sales of WWII , as well as Destiny 2 and Crash Bandicoot N. Sane Trilogy , the Activision publishing segment grew its fourth-quarter revenue 16% year over year. How past Call of Duty games have fared The Call of Duty franchise is one of four games that have made up two-thirds of the company's annual revenue over the past three years. It's also one of the best-selling video games of all time , but sales of the series haven't always been consistent. The 2014 release of Call of Duty: Advanced Warfare didn't perform well enough to boost the Activision publishing segment, which saw its full-year revenue decline 7% over 2013.Additionally, the 2016 release of Call of Duty: Infinite Warfare performed very poorly, which contributed to an 18% decline in full-year revenue for the segment. Story continues Yet Activision still managed to exceed overall revenue and earnings expectations in those years, mainly because management has a history of under promising and over delivering. Management's early guidance for 2018 is calling for 4.8% growth in revenue to $7.355 billion, and growth in non- GAAP earnings per share of 11%. If history is any guide, expect management to gradually increase those estimates as the year goes on, especially with a major World of Warcraft expansion releasing later this summer and Black Ops 4 on track to have a big launch. There are a few reasons why investors should bet not only on a strong launch for Black Ops 4 , but possibly a new franchise record. Black Ops 4 is being designed for esports To date, the Black Ops sub-series of the Call of Duty franchise is the most played in company history, with a community of 200 million players who have spent a cumulative 15 billion hours playing the games. That is a large community of fans that is stoked about a new multiplayer feature coming to Black Ops 4 . New multiplayer games like Fortnite and PlayerUnknown's Battlegrounds are extremely popular right now for their online survival gameplay. Black Ops 4 will feature its own Hunger Games -style mode for the first time, which makes this release in the series the most highly anticipated in company history.This is a turning point for the Call of Duty franchise, which is dropping its single-player story mode due to the massive popularity of online multiplayer competitive gaming, especially in light of the growth of esports . Similar to how Activision created Overwatch to target the esports market with its focus on team-based multiplayer gameplay, executives seem to be positioning the Call of Duty series as a pure online competitive game for the benefit of growing the audience for Call of Duty World League, the professional esport based on the game. It's a new era Given the popularity of the Call of Duty franchise coupled with a pure focus on offering gamers more multiplayer gameplay -- which is all the rage right now -- Black Ops 4 could easily be the all-time best-selling game in the series and deliver not only a solid finish to the year, but it could create a multiplayer experience that keeps gamers engaged (and spending money) well beyond 2018. More From The Motley Fool 3 Growth Stocks at Deep-Value Prices 5 Expected Social Security Changes in 2018 6 Years Later, 6 Charts That Show How Far Apple, Inc. Has Come Since Steve Jobs' Passing 10 Best Stocks to Buy Today The $16,122 Social Security Bonus You Cannot Afford to Miss Bitcoin's Biggest Competitor Isn't Ethereum -- It's This John Ballard owns shares of Activision Blizzard. The Motley Fool owns shares of and recommends Activision Blizzard and TWTR. The Motley Fool has a disclosure policy . \|\| Hype For One Activision Blizzard Franchise Should Excite Investors: On the heels of strong sales of the 2017 release ofCall of Duty: WWII,Activision Blizzard(NASDAQ: ATVI)recently announced the next installment of the series will beCall of Duty: Black Ops 4. Its predecessor,Black Ops III(2015), has been so popular that the company continues to support that game with additional content for players to purchase while playing. It's possible thatBlack Ops 4, which will launch on Oct. 12, could surpass its predecessor's popularity to become the top-sellingCall of Dutygame in the series's history. Based on the high interest it's garnering on social media and the game's focus on multiplayer gameplay, those weighty expectations may not be out of reach. Image source: Activision Blizzard. TheBlack Ops 4live stream set new records as the most watched game unveiling inCall of Dutyhistory. It was the top trending topic onTwitterglobally during the announcement. In total, views for the live stream, official trailers, and other videos have already exceeded 80 million. Online views for game trailers, etc., have proven to be a reasonably good indicator of sales. For example, last year'sCall of Duty: WWIIreceived significantlymore online viewsover the previous year'sInfinite Warfareversion, which translated to a strong launch in fall 2017. Call of Duty: WWIIwas the top-grossing console game worldwide in 2017, which is almost an annual tradition for the franchise. Based on strong sales ofWWII, as well asDestiny 2andCrash Bandicoot N. Sane Trilogy, the Activision publishing segment grew its fourth-quarter revenue 16% year over year. TheCall of Dutyfranchise is one of four games that have made uptwo-thirdsof the company's annual revenue over the past three years. It's also one of the best-selling video games ofall time, but sales of the series haven't always been consistent. The 2014 release ofCall of Duty: Advanced Warfaredidn't perform well enough to boost the Activision publishing segment, which saw its full-year revenue decline 7% over 2013.Additionally, the 2016 release ofCall of Duty: Infinite Warfareperformed very poorly, which contributed to an 18% decline in full-year revenue for the segment. Yet Activision still managed to exceed overall revenue and earnings expectations in those years, mainly because management has a history of under promising and over delivering. Management's early guidance for 2018 is calling for 4.8% growth in revenue to $7.355 billion, and growth in non-GAAPearnings per share of 11%. If history is any guide, expect management to gradually increase those estimates as the year goes on, especially with a majorWorld of Warcraftexpansion releasing later this summer andBlack Ops 4on track to have a big launch. There are a few reasons why investors should bet not only on a strong launch forBlack Ops 4, but possibly a new franchise record. To date, theBlack Opssub-series of theCall of Dutyfranchise is the most played in company history, with a community of 200 million players who have spent a cumulative 15 billion hours playing the games. That is a large community of fans that is stoked about a new multiplayer feature coming toBlack Ops 4. New multiplayer games likeFortniteandPlayerUnknown's Battlegroundsare extremely popular right now for their online survival gameplay.Black Ops 4will feature its ownHunger Games-style mode for the first time, which makes this release in the series the most highly anticipated in company history.This is a turning point for theCall of Dutyfranchise, which is dropping its single-player story mode due to the massive popularity of online multiplayer competitive gaming, especially in light of the growth ofesports. Similar to how Activision createdOverwatchto target the esports market with its focus on team-based multiplayer gameplay, executives seem to be positioning theCall of Dutyseries as a pure online competitive game for the benefit of growing the audience forCall of DutyWorld League, the professional esport based on the game. Given the popularity of theCall of Dutyfranchise coupled with a pure focus on offering gamers more multiplayer gameplay -- which is all the rage right now --Black Ops 4could easily be the all-time best-selling game in the series and deliver not only a solid finish to the year, but it could create a multiplayer experience that keeps gamers engaged (and spending money) well beyond 2018. More From The Motley Fool • 3 Growth Stocks at Deep-Value Prices • 5 Expected Social Security Changes in 2018 • 6 Years Later, 6 Charts That Show How Far Apple, Inc. Has Come Since Steve Jobs' Passing • 10 Best Stocks to Buy Today • The $16,122 Social Security Bonus You Cannot Afford to Miss • Bitcoin's Biggest Competitor Isn't Ethereum -- It's This John Ballardowns shares of Activision Blizzard. The Motley Fool owns shares of and recommends Activision Blizzard and TWTR. The Motley Fool has adisclosure policy. \|\| 6 Internet of Things Facts to Make Investors Sit Up and Take Notice: The Internet of Things (or IoT) links formerly isolated objects -- think thermostats, cars, refrigerators, etc. -- to the Internet. All that connectivity allows devices to communicate with each other, provides us with vast amounts of previously inaccessible data, and does handy things like, for example, warn businesses when equipment is about to break down. The IoT has been around for years, but the recent proliferation of low-cost sensors has made it easier and more affordable to bring all sorts of new things online. Here are a few facts that show how big this tech trend really is, and why investors should be paying attention. Finger touching lines that are lighting up. Image source: Getty Images. 1. You can measure the IoT's worth in the trillions of dollars. By 2025, the global worth of IoT devices, revenues, and cost-savings is expected to reach $6.2 trillion. The healthcare industry is forecast to account for the largest fraction of that at $2.5 trillion, with manufacturing close behind at $2.3 trillion. 2. Two years from now, there will be over 200 billion connected devices. According to Intel (NASDAQ: INTC) , there were 15 billion connected IoT devices in 2015, but the chipmaker calculates that number will jump to more than 200 billion by 2020. 3. Consumer IoT devices are surging. Apple (NASDAQ: AAPL) became the world's top maker of wearable tech just a few quarters ago, when it outpaced Fitbit (NYSE: FIT) for the first time. Apple Watch sales are still a small portion of its total revenues (the company doesn't break out Watch sales in its reports), but the growth rate of the consumer IoT device market indicates that there's still plenty of room for Apple to expand its wearable business. 4. Vehicle-to-vehicle communication could cut the number of crashes in the U.S. by 600,000 a year. Driverless cars get all of the attention these days, but allowing vehicles to talk to each other -- conveying everything from accident warnings to data about traffic conditions -- could prevent more than a half-million crashes in the U.S. every single year, according to the National Highway Transportation Safety Administration (NHTSA). General Motors is currently the only automaker in the U.S. that sells vehicles equipped with this technology, but Toyota has plans to bring shortwave vehicle-to-vehicle (V2V) communications to its U.S. offerings in 2021. Story continues It's also worth pointing out that tools to track industrial vehicles are already a growing part of the IoT. CalAmp (NASDAQ: CAMP) is a leader in the machine-to-machine (M2M) market. Its hardware and cloud-based software allow industrial equipment giant Caterpillar to track some of its construction vehicle fleets. Technology icons superimposed into the inside of a car. Image source: Getty Images. 5. China may be leading the IoT already. A recent Accenture study asserted that China's openness to the IoT, and its current investments in the technology, could add $196 billion to its manufacturing sector over the next 15 years. But Chinese tech companies are making big moves in the IoT space as well. E-commerce giant Alibaba (NYSE: BABA) just bought a large chipmaker -- Hangzhou C-SKY Microsystems -- to advance its cloud-based business. Research firm IDC says China will outspend the U.S. in the IoT market this year, $209 billion to $194 billion. 6. The Internet of Things is improving farming. Sensors embedded in the ground are providing some farmers with data that helps them provide more water, pesticides or fertilizer specifically to those crops that need them. AT&T (NYSE: T) recently partnered with a company called WaterBit, which makes solar-powered sensors to monitor soil moisture. When the sensors detect a specific part of a field needs more water, they signal an automated irrigation system that supplies it only to that section. As a Scientific American article noted last year, this type of "precision farming" not only conserves water, but can help boost crop yields as well. Remember this The Internet of Things is transforming many industries, and there are still plenty of ways for investors to capitalize on its growth. Some tech companies, like Intel, break out their IoT-related revenues, but many don't. For example, Apple is clearly benefiting from its leadership position in the wearable tech space, but it still wraps up its smartwatch sales figures in its broad "other products" segment (which includes Apple TV, Beats, and HomePod, among other things). Investors who are looking to profit from the IoT's potential should consider whether they want to buy stock in large companies that have minor exposure to the IoT, or small-cap business making bigger bets on it (or both). The former will offer more stability, but the latter could deliver more significant share price gains as the IoT expands. More From The Motley Fool 3 Growth Stocks at Deep-Value Prices 5 Expected Social Security Changes in 2018 6 Years Later, 6 Charts That Show How Far Apple, Inc. Has Come Since Steve Jobs' Passing 10 Best Stocks to Buy Today The $16,122 Social Security Bonus You Cannot Afford to Miss Bitcoin's Biggest Competitor Isn't Ethereum -- It's This Chris Neiger has no position in any of the stocks mentioned. The Motley Fool owns shares of and recommends Apple and Fitbit. The Motley Fool has the following options: long January 2020 $150 calls on Apple and short January 2020 $155 calls on Apple. The Motley Fool recommends CalAmp. The Motley Fool has a disclosure policy . \|\| 6 Internet of Things Facts to Make Investors Sit Up and Take Notice: TheInternet of Things(or IoT) links formerly isolated objects -- think thermostats, cars, refrigerators, etc. -- to the Internet. All that connectivity allows devices to communicate with each other, provides us with vast amounts of previously inaccessible data, and does handy things like, for example, warn businesses when equipment is about to break down. The IoT has been around for years, but the recent proliferation of low-cost sensors has made it easier and more affordable to bring all sorts of new things online. Here are a few facts that show how big this tech trend really is, and why investors should be paying attention. Image source: Getty Images. By 2025, the global worth of IoT devices, revenues, and cost-savings is expected to reach $6.2 trillion. The healthcare industry is forecast to account for the largest fraction of that at $2.5 trillion, with manufacturing close behind at $2.3 trillion. According toIntel(NASDAQ: INTC), there were 15 billion connected IoT devices in 2015, but the chipmaker calculates that number will jump to more than 200 billion by 2020. Apple(NASDAQ: AAPL)became the world's top maker of wearable techjust a few quarters ago, when it outpacedFitbit(NYSE: FIT)for the first time. Apple Watch sales are still a small portion of its total revenues (the company doesn't break out Watch sales in its reports), but the growth rate of the consumer IoT device market indicates that there's still plenty of room for Apple to expand its wearable business. Driverless carsget all of the attention these days, but allowing vehicles to talk to each other -- conveying everything from accident warnings to data about traffic conditions -- could prevent more than a half-million crashes in the U.S. every single year, according to the National Highway Transportation Safety Administration (NHTSA).General Motorsis currently the only automaker in the U.S. that sells vehicles equipped with this technology, butToyotahas plans to bring shortwave vehicle-to-vehicle (V2V) communications to its U.S. offerings in 2021. It's also worth pointing out that tools to track industrial vehicles are already a growing part of the IoT.CalAmp(NASDAQ: CAMP)is a leader in the machine-to-machine(M2M) market. Its hardware and cloud-based software allow industrial equipment giantCaterpillarto track some of its construction vehicle fleets. Image source: Getty Images. A recentAccenturestudy asserted that China's openness to the IoT, and its current investments in the technology, could add $196 billion to its manufacturing sector over the next 15 years. But Chinese tech companies are making big moves in the IoT space as well. E-commerce giantAlibaba(NYSE: BABA)just bought a large chipmaker -- Hangzhou C-SKY Microsystems -- to advance its cloud-based business. Research firm IDC says China will outspend the U.S. in the IoT market this year, $209 billion to $194 billion. Sensors embedded in the ground are providing some farmers with data that helps them provide more water, pesticides or fertilizer specifically to those crops that need them.AT&T(NYSE: T)recently partnered with a company called WaterBit, which makes solar-powered sensors to monitor soil moisture. When the sensors detect a specific part of a field needs more water, they signal an automated irrigation system that supplies it only to that section. As aScientific Americanarticlenoted last year, this type of "precision farming" not only conserves water, but can help boost crop yields as well. The Internet of Things is transforming many industries, and there are still plenty of ways for investors to capitalize on its growth. Some tech companies, like Intel, break out their IoT-related revenues, but many don't. For example, Apple is clearly benefiting from its leadership position in the wearable tech space, but it still wraps up its smartwatch sales figures in its broad "other products" segment (which includes Apple TV, Beats, and HomePod, among other things). Investors who are looking to profit from the IoT's potential should consider whether they want to buy stock in large companies that have minor exposure to the IoT, or small-cap business making bigger bets on it (or both). The former will offer more stability, but the latter could deliver more significant share price gains as the IoT expands. More From The Motley Fool • 3 Growth Stocks at Deep-Value Prices • 5 Expected Social Security Changes in 2018 • 6 Years Later, 6 Charts That Show How Far Apple, Inc. Has Come Since Steve Jobs' Passing • 10 Best Stocks to Buy Today • The $16,122 Social Security Bonus You Cannot Afford to Miss • Bitcoin's Biggest Competitor Isn't Ethereum -- It's This Chris Neigerhas no position in any of the stocks mentioned. The Motley Fool owns shares of and recommends Apple and Fitbit. The Motley Fool has the following options: long January 2020 $150 calls on Apple and short January 2020 $155 calls on Apple. The Motley Fool recommends CalAmp. The Motley Fool has adisclosure policy. \|\| Despite Warnings, ICO Promoters’ Self-Reporting is ‘Underwhelming’: SEC Official: SEC Bitcoin ETF ICOs are securities, according to the SEC, but few are reporting themselves as such. As CCN reported , the SEC announced this week that it isn’t planning to update its securities framework to accommodate ICOs, which behave much like securities in that they back funding towards a company like a stock or traditional IPO. However, the SEC warned ICOs that they were skirting regulations as far back as early 2017, which stands out as a year full of ICOs. The number of fraudulent ICOs with exit schemes drew a lot of attention from regulators, who saw the ventures as the ‘Wild West’ outside of securities regulations that protected investors. Wait and See Isn’t Going as Planned While many ICO-backed ventures took a wait-and-see approach for more solid SEC’s decisions, this announcement adds to their unchanged belief that ICOs are the same as traditional securities. In an interview with CNBC, Brett Redfearn, SEC Director of division of trading and markets, stated: “We’re underwhelmed by the enthusiasm for coming within the regulatory structure right now. There are a number of exchanges that are trading ICOs that I would think that we would see more registrations.” This confirms again that the SEC’s stance hasn’t changed. As CCN reported , the SEC is stepping up enforcement of the laws this year, sending more Cease and Desist orders than ever before. The prior warnings from the SEC have changed to more aggressive enforcement. The SEC is also implicating exchanges that trade tokens and coins that did not self-report to the agency as part of their ICOs. One could argue, however, that these efforts to weed out scam ICOs are a key phase for legitimizing cryptocurrencies in the eyes of US regulators, as they are not pursuing outright bans. The Litmus Test for ICOs Refearn also discussed the way the agency determines whether an ICO is a security. They are using the “Howey Test,” a standard that came from a 1946 Supreme Court case ( SEC v. W.J. Howey Co. ). Refearn admitted, however, that tokens and coins aren’t easy to classify as “not all of them are obvious on its face exactly what it is.” The SEC director closed with a mention about ripple (XRP) and ethereum (ETH). As the SEC reported on May 13, XRP’s backers have made efforts to classify the token as purely a means of exchange. He said that a decision on “at least one of those products forthcoming in the future.” Other projects could soon follow with this argument in order to avoid lengthy securities laws. Story continues Featured image from Shutterstock. The post Despite Warnings, ICO Promoters’ Self-Reporting is ‘Underwhelming’: SEC Official appeared first on CCN . View comments \|\| 3 Dividend Stocks That Give Their Investors Several Raises Each Year: The best dividend growth stocks have long histories of increasing their dividends once each year. However, a small handful of companies do even better than that by raising their payouts every single quarter like clockwork. Three such income-growth gems are Enterprise Products Partners (NYSE: EPD) , Phillips 66 Partners (NYSE: PSXP) , and Noble Midstream Partners (NYSE: NBLX) . 55 and counting Enterprise Products Partners has increased its distribution to investors for an impressive 55 straight quarters, and 64 times overall since going public about 20 years ago. The energy midstream MLP has been able to deliver that steady growth by building and buying cash-generating assets over the years while maintaining a strong financial profile. In fact, the company maintains one of the highest credit ratings among MLPs by keeping its leverage low and distribution coverage high. A hand giving out $100 bills. Image source: Getty Images. Those solid financials put Enterprise in the position to increase its 5.8%-yielding payout each quarter for at least the next few years. It also doesn't hurt that the company finished up $4.5 billion of growth projects last year, and completed another $400 million in expansions so far this year, which should significantly increase cash flow in the near term. Meanwhile, the company has another $5.3 billion of growth projects under construction and more in development that should steadily increase cash flow over the next few years. This growing cash-flow stream, when combined with the company's moves to further improve an already top-tier financial profile , increases the odds that Enterprise can continue its quarterly distribution growth streak. Shifting into second gear In mid-2013, refining giant Phillips 66 (NYSE: PSX) formed Phillips 66 Partners to acquire and operate its midstream assets. Phillips 66's aim at the time was to slowly sell those assets to its MLP, which would give it the cash flow to support 30% compound annual distribution growth through the end of 2018. With Phillip 66 Partners increasing its payout in 18 consecutive quarters, and by a 31% compound annual growth rate, it's well on its way to achieving that goal. Story continues The main fuel driving Phillips 66 Partners' distribution growth over the past several years has been a steady diet of acquisitions from Phillips 66. While this has transferred the bulk of the refiners' midstream assets over to its MLP, that doesn't mean Phillips 66 Partners' distribution growth will dry up after this year. That's because the company has secured several expansion projects , which will help grow cash flow in the future, giving it more fuel to continue increasing the payout. While Phillips 66 Partners likely won't expand its 5.4%-yielding payout as quickly as it had in the past, the company should be able to still grow it at a healthy pace going forward. Just getting started Noble Midstream Partners is much earlier in its lifecycle since it just went public in late 2016. However, the company has increased its payout every single quarter since that time, including by an impressive 24% over the past year. Meanwhile, there's plenty more growth ahead given what the company has coming down the pipeline. Noble Midstream Partners has invested $1.2 billion since its IPO to expand its midstream network, including completing organic expansion projects, third-party acquisitions, and a drop-down transaction with parent Noble Energy (NYSE: NBL) . Those investments set the stage for Noble Midstream to grow cash flow at a rapid pace over the next several years, which should support 20% annual distribution growth through 2020. Meanwhile, there's material upside to that outlook if the company secures new projects that are currently under consideration or completes additional drop-down transactions with Noble Energy. This forecast suggests that Noble Midstream Partners should be able to grow its 3.8%-yielding payout by a healthy rate every quarter for at least the next five years. Why wait a whole year? Most investors need to wait a year before they get a raise from their dividend stocks. This trio, on the other hand, gives their investors more money each quarter. That trend appears poised to continue, which makes them great options for investors who are seeking a steadily growing income stream. More From The Motley Fool 3 Growth Stocks at Deep-Value Prices 5 Expected Social Security Changes in 2018 6 Years Later, 6 Charts That Show How Far Apple, Inc. Has Come Since Steve Jobs' Passing 10 Best Stocks to Buy Today The $16,122 Social Security Bonus You Cannot Afford to Miss Bitcoin's Biggest Competitor Isn't Ethereum -- It's This Matthew DiLallo owns shares of Enterprise Products Partners and Phillips 66. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy . \|\| 3 Dividend Stocks That Give Their Investors Several Raises Each Year: Thebest dividend growth stockshave long histories of increasing their dividends once each year. However, a small handful of companies do even better than that by raising their payouts every single quarter like clockwork. Three such income-growth gems areEnterprise Products Partners(NYSE: EPD),Phillips 66 Partners(NYSE: PSXP), andNoble Midstream Partners(NYSE: NBLX). Enterprise Products Partners has increased its distribution to investors for an impressive 55 straight quarters, and 64 times overall since going public about 20 years ago. The energy midstreamMLPhas been able to deliver that steady growth by building and buying cash-generating assets over the years while maintaining a strong financial profile. In fact, the company maintains one of the highest credit ratings among MLPs by keeping its leverage low and distribution coverage high. Image source: Getty Images. Those solid financials put Enterprise in the position to increase its 5.8%-yielding payout each quarter for at least the next few years. It also doesn't hurt that the company finished up $4.5 billion of growth projects last year, and completed another $400 million in expansions so far this year, which should significantly increase cash flow in the near term. Meanwhile, the company has another $5.3 billion of growth projects under construction and more in development that should steadily increase cash flow over the next few years. This growing cash-flow stream, when combinedwith the company's moves to further improve an already top-tier financial profile, increases the odds that Enterprise can continue its quarterly distribution growth streak. In mid-2013, refining giantPhillips 66(NYSE: PSX)formed Phillips 66 Partners to acquire and operate its midstream assets. Phillips 66's aim at the time was to slowly sell those assets to its MLP, which would give it the cash flow to support 30% compound annual distribution growth through the end of 2018. With Phillip 66 Partners increasing its payout in 18 consecutive quarters, and by a 31% compound annual growth rate, it's well on its way to achieving that goal. The main fuel driving Phillips 66 Partners' distribution growth over the past several years has been a steady diet of acquisitions from Phillips 66. While this has transferred the bulk of the refiners' midstream assets over to its MLP, that doesn't mean Phillips 66 Partners' distribution growth will dry up after this year. That's because the company hassecured several expansion projects, which will help grow cash flow in the future, giving it more fuel to continue increasing the payout. While Phillips 66 Partners likely won't expand its 5.4%-yielding payout as quickly as it had in the past, the company should be able to still grow it at a healthy pace going forward. Noble Midstream Partners is much earlier in its lifecycle since it just went public in late 2016. However, the company has increased its payout every single quarter since that time, including by an impressive 24% over the past year. Meanwhile, there's plenty more growth ahead given what the company has coming down the pipeline. Noble Midstream Partners has invested $1.2 billion since its IPO to expand its midstream network, including completing organic expansion projects, third-party acquisitions, and a drop-down transaction with parentNoble Energy(NYSE: NBL). Those investments set the stage for Noble Midstream to grow cash flow at a rapid pace over the next several years, which should support 20% annual distribution growth through 2020. Meanwhile, there's material upside to that outlook if the company secures new projects that are currently under consideration or completes additional drop-down transactions with Noble Energy. This forecast suggests that Noble Midstream Partners should be able to grow its 3.8%-yielding payout by a healthy rate every quarter for at least the next five years. Most investors need to wait a year before they get a raise from their dividend stocks. This trio, on the other hand, gives their investors more money each quarter. That trend appears poised to continue, which makes them great options for investors who are seeking a steadily growing income stream. More From The Motley Fool • 3 Growth Stocks at Deep-Value Prices • 5 Expected Social Security Changes in 2018 • 6 Years Later, 6 Charts That Show How Far Apple, Inc. Has Come Since Steve Jobs' Passing • 10 Best Stocks to Buy Today • The $16,122 Social Security Bonus You Cannot Afford to Miss • Bitcoin's Biggest Competitor Isn't Ethereum -- It's This Matthew DiLalloowns shares of Enterprise Products Partners and Phillips 66. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has adisclosure policy. [Social Media Buzz] 11/06/2018 - 00:00 ========================= • -1.42 #Bitcoin: ₺30,259.58 • -1.69 #Ethereum: ₺2,371.04 • -2.74 #Ripple: ₺2.59 • -3.02 #BitcoinCash: ₺4,237.76 ========================= ➜ Anlık fiyatlar için takip edin! #BitcoinTürkiye \|\| One Bitcoin now worth $7080.00@bitstamp. High $7636.590. Low $7060.380. Market Cap $120.960 Billion #bitcoin \|\| You Suffer . . . But why !? Bitcoin just hit $7,271.00, time to remotely toggle your rig at home... #bitcoin \|\| Provável Dump: R$ 27.131,00 Queda de ...	6906.92, 6582.36, 6349.90, 6675.35, 6456.58, 6550.16, 6499.27, 6734.82, 6769.94, 6776.55
Given the historical Bitcoin prices from the last 90 days, predict the next 10 daily closing prices. The historical prices are: 8913.47, 8929.28, 8728.47, 8879.62, 8668.12, 8495.78, 8209.40, 7833.04, 7954.48, 7165.70, 6890.52, 6973.53, 6844.23, 7083.80, 7456.11, 6853.84, 6811.47, 6636.32, 6911.09, 7023.52, 6770.73, 6834.76, 6968.32, 7889.25, 7895.96, 7986.24, 8329.11, 8058.67, 7902.09, 8163.42, 8294.31, 8845.83, 8895.58, 8802.46, 8930.88, 9697.50, 8845.74, 9281.51, 8987.05, 9348.48, 9419.08, 9240.55, 9119.01, 9235.92, 9743.86, 9700.76, 9858.15, 9654.80, 9373.01, 9234.82, 9325.18, 9043.94, 8441.49, 8504.89, 8723.94, 8716.79, 8510.38, 8368.83, 8094.32, 8250.97, 8247.18, 8513.25, 8418.99, 8041.78, 7557.82, 7587.34, 7480.14, 7355.88, 7368.22, 7135.99, 7472.59, 7406.52, 7494.17, 7541.45, 7643.45, 7720.25, 7514.47, 7633.76, 7653.98, 7678.24, 7624.92, 7531.98, 6786.02, 6906.92, 6582.36, 6349.90, 6675.35, 6456.58, 6550.16, 6499.27.	[Bitcoin Technical Analysis for 2018-06-17] Volume: 3104019968, RSI (14-day): 33.64, 50-day EMA: 7685.77, 200-day EMA: 8447.25 [Wider Market Context] None available. [Recent News (last 7 days)] What Are the Medicare Trust Funds (and Why Should I Worry About Them)?: Retirees count on a combination of retirement benefits from Social Security and healthcare benefits from Medicare to give them the peace of mind they need to live well in their older years. Medicare and Social Security get their financial support from the American public, with some of it coming directly from sources like payroll taxes and some of it coming indirectly through appropriations from the overall federal budget. Most people know about the Social Security Trust Funds , which have saved up money in anticipation of the demographic bulge of retiring Americans that have pushed benefit expenditures of the program to exceed the revenue that Social Security pulls in. But Medicare also has trust funds , and they play an equally vital but somewhat different role in protecting Medicare participants from financial hardship. Paper with Medicare on the top, with a stethoscope sitting on top of it on a wood table. Image source: Getty Images. 2 trust funds for Medicare Medicare has two different trust funds that offer financial support for various Medicare benefits. The Hospital Insurance Trust Fund, or HI Trust Fund for short, goes toward paying the hospital and inpatient care expenses that Medicare Part A typically covers. It also contributes toward covering the costs of program administration, including efforts to fight fraud and abuse of the Medicare system. The Supplementary Medical Insurance or SMI Trust Fund covers other medical expenses associated with different parts of the Medicare program. Its assets go toward funding outpatient expenses like doctor visits under Medicare Part B. It also helps finance prescription drug plan coverage under Medicare Part D. A portion of the SMI Trust Fund's assets also goes toward overall Medicare administration costs. Where do the Medicare trust funds get their money? The two programs get funded in very different ways. The 1.45% in Medicare taxes that get withheld from your paycheck, along with your employer's matching 1.45% tax, go into the HI Trust Fund. Some of the income taxes that select taxpayers owe on their Social Security benefits also gets put into the HI Trust Fund, as does premium revenue from the relatively small number of recipients who lack sufficient employment history to get free Part A coverage and therefore have to pay premiums to get that coverage. Interest on the fund is the final component of the income the HI Trust Fund pulls in. The SMI Trust Fund relies much more on participant income. Most people pay their own premiums for Medicare Part B coverage for medical services, and those who elect prescription drug coverage under Medicare Part D often pay additional premiums. That money helps to fund those benefits, and premiums are set in such a way that they can meet about 25% of the costs of providing Part B and Part D services. Any additional resources come from funds authorized by Congress, which are paid from the general budget. Trust fund interest is also available as necessary. Story continues Should you worry about the Medicare Trust Funds? This year's report from Medicare's trustees raised new alarm bells about the financial sustainability of the program. With just $202 billion in the HI Trust Fund, the trustees estimate that money will be gone by 2026, three years sooner than it expected in the 2017 report. The SMI Trust Fund has no direct concerns because of its reliance on the general fund of the federal government for support. Yet cost increases threaten both to expand federal budget needs and to raise premiums that participants pay for Part B and Part D Medicare coverage. The primary reason why fewer people worry about Medicare than Social Security is that the federal government has long seen the need to supplement the dedicated funding sources that support the healthcare program with money from the general fund. Therefore, if trust funds for Medicare run out of money, it would just require a larger appropriation from other federal sources. Nevertheless, with some politicians looking to rein in entitlement spending, Medicare participants must be diligent in order to defend the benefits they rely on for their health and well-being. More From The Motley Fool 3 Growth Stocks at Deep-Value Prices 5 Expected Social Security Changes in 2018 6 Years Later, 6 Charts That Show How Far Apple, Inc. Has Come Since Steve Jobs' Passing 10 Best Stocks to Buy Today The $16,122 Social Security Bonus You Cannot Afford to Miss Bitcoin's Biggest Competitor Isn't Ethereum -- It's This The Motley Fool has a disclosure policy . View comments \|\| What Are the Medicare Trust Funds (and Why Should I Worry About Them)?: Retirees count on a combination ofretirement benefits from Social Securityandhealthcare benefits from Medicareto give them the peace of mind they need to live well in their older years. Medicare and Social Security get their financial support from the American public, with some of it coming directly from sources like payroll taxes and some of it coming indirectly through appropriations from the overall federal budget. Most people know about theSocial Security Trust Funds, which have saved up money in anticipation of the demographic bulge of retiring Americans that have pushed benefit expenditures of the program to exceed the revenue that Social Security pulls in. ButMedicare also has trust funds, and they play an equally vital but somewhat different role in protecting Medicare participants from financial hardship. Image source: Getty Images. Medicare has two different trust funds that offer financial support for various Medicare benefits. The Hospital Insurance Trust Fund, or HI Trust Fund for short, goes toward paying the hospital and inpatient care expenses that Medicare Part A typically covers. It also contributes toward covering the costs of program administration, including efforts to fight fraud and abuse of the Medicare system. The Supplementary Medical Insurance or SMI Trust Fund covers other medical expenses associated with different parts of the Medicare program. Its assets go toward funding outpatient expenses like doctor visits under Medicare Part B. It also helps finance prescription drug plan coverage under Medicare Part D. A portion of the SMI Trust Fund's assets also goes toward overall Medicare administration costs. The two programs get funded in very different ways. The 1.45% in Medicare taxes that get withheld from your paycheck, along with your employer's matching 1.45% tax, go into the HI Trust Fund. Some of the income taxes that select taxpayers owe on their Social Security benefits also gets put into the HI Trust Fund, as does premium revenue from the relatively small number of recipients who lack sufficient employment history to get free Part A coverage and therefore have to pay premiums to get that coverage. Interest on the fund is the final component of the income the HI Trust Fund pulls in. The SMI Trust Fund relies much more on participant income. Most people pay their own premiums for Medicare Part B coverage for medical services, and those who elect prescription drug coverage under Medicare Part D often pay additional premiums. That money helps to fund those benefits, and premiums are set in such a way that they can meet about 25% of the costs of providing Part B and Part D services. Any additional resources come from funds authorized by Congress, which are paid from the general budget. Trust fund interest is also available as necessary. This year's report from Medicare's trustees raised new alarm bells about the financial sustainability of the program. With just $202 billion in the HI Trust Fund, the trustees estimate that money will be gone by 2026, three years sooner than it expected in the 2017 report. The SMI Trust Fund has no direct concerns because of its reliance on the general fund of the federal government for support. Yet cost increases threaten both to expand federal budget needs and toraise premiums that participantspay for Part B and Part D Medicare coverage. The primary reason why fewer people worry about Medicare than Social Security is that the federal government has long seen the need to supplement the dedicated funding sources that support the healthcare program with money from the general fund. Therefore, if trust funds for Medicare run out of money, it would just require a larger appropriation from other federal sources. Nevertheless, with some politicians looking to rein in entitlement spending, Medicare participants must be diligent in order to defend the benefits they rely on for their health and well-being. More From The Motley Fool • 3 Growth Stocks at Deep-Value Prices • 5 Expected Social Security Changes in 2018 • 6 Years Later, 6 Charts That Show How Far Apple, Inc. Has Come Since Steve Jobs' Passing • 10 Best Stocks to Buy Today • The $16,122 Social Security Bonus You Cannot Afford to Miss • Bitcoin's Biggest Competitor Isn't Ethereum -- It's This The Motley Fool has adisclosure policy. \|\| The Fed said it's hiking rates four times this year, but here's why the market's not convinced: The Federal Reserve voted Wednesday to approve a rate increase and indicated two more are coming this year, bringing the total to four. However, futures traders give the fourth hike just a little better than half a chance of happening. The doubt is fueled over whether the U.S. growth path can continue and if the Fed will want to continue to tighten while its global counterparts remain loose. The Federal Reserve may have telegraphed a fourth interest rate hike this year, but markets didn't quite get the message. After the conclusion Wednesday of its two-day meeting, the Federal Open Market Committee, through the so-called dot plot of individual members' expectations, indicated that it would increase rates two more times before 2018 ends . That would come on top of the quarter-point rate increase the committee approved at the meeting, as well as one already enacted in March. While the more aggressive tilt normally would trigger a corresponding move in the fed funds futures market, where contracts for the central bank's benchmark rate are traded, the response was minimal. As of Friday afternoon, traders were implying just a 55 percent chance of a fourth hike in December — a little better than a coin flip and just 10 percentage points or so above the chances before the meeting and the surprise dot-plot change. There are multiple reasons why the market is not buying into a more hawkish Fed. Primarily, they center on the belief that the central bank will have limited room to move considering the dovish position of many of its global counterparts. There also are fears that a Fed that is too hawkish could invert the curve on government bond yields and signal a recession. "I was of the view that the Fed will and should only go twice. Based on the recent data, it looks like the third hike is hard to argue against," said Joe LaVorgna, chief economist for the Americas at Natixis. "I just don't see the Fed being able to go as much as they want given where the curve is and the dots are. If the Fed hikes four times this year, the curve is going to invert in December." Story continues "Maybe they ignore that, maybe it doesn't mean anything, but that would trouble me," he added. The rate increase came as Fed officials gave the economy high marks, though it took just one member to move his or her dot higher on the chart to tilt the median toward another hike. Chairman Jerome Powell said that while the Fed is "not ready to declare victory" on its price stability mandate, he added that growth looks strong and able to support the central bank's continued march back toward normalization. The committee kept its benchmark rate anchored near zero for seven years until beginning to hike in December 2015. Wednesday's move pushes the target range for the rate to 1.75 percent to 2 percent. "The economy has strengthened so much since I've joined the Fed," Powell told reporters at a post-meeting news conference. "Really, the decision you see today is another sign that the U.S. economy is in great shape, growth is strong, the labor market is strong, inflation is close to target. That's what you're seeing." Still, traders were moved only a little by Powell's optimism. Two more hikes would translate to a target funds rate of 2.25 percent to 2.5 percent. But traders implied a 2.19 percent funds rate by December, which would get close to but fall short of the Fed's intentions. What will matter between now and then is data — how much more progress the economy makes toward a 2 percent inflation rate, and whether wage pressures will build that also would compel the Fed to act. On the other hand, continued unrest in emerging markets and signs that the U.S. bank is getting out of step with the pace of its global counterparts could give officials pause. Some economists believe the market's skepticism about a more aggressive Fed is ill-founded. "From the data we look at, there is every reason to believe the economy will more than justify the Fed's proposed trajectory for policy rates," Steve Blitz, chief U.S. economist at TS Lombard, said in a note to clients. "The trajectory for higher policy rates is in place. The market's 'bet' against that happening is what looks wrong." After all, the U.S. is on the path to possible GDP growth of 4 percent or more in the second quarter that could last throughout the year. The Fed could justify tightening faster than other central banks simply on the grounds that the U.S. is growing much better than most other major developed economies. Still, Tom Porcelli, chief U.S. economist at RBC Capital Markets, said "client chats" are indicating that "doubts remain." "Chairman Jay Powell used the word 'great' to specifically describe the backdrop twice and he used 'strong' about a dozen times," Porcelli said in a note. "Any doubts about their conviction on the path they see this hiking cycle taking should be long extinguished." More From CNBC Cramer Remix: The Qualcomm-NXP deal could signal what’s next for trade Cramer: Bitcoin and PayPal are putting pressure on bank stocks Economic conditions 'too good' for stocks: Market veteran Jim Paulsen \|\| The Fed said it's hiking rates four times this year, but here's why the market's not convinced: • The Federal Reserve voted Wednesday to approve a rate increase and indicated two more are coming this year, bringing the total to four. • However, futures traders give the fourth hike just a little better than half a chance of happening. • The doubt is fueled over whether the U.S. growth path can continue and if the Fed will want to continue to tighten while its global counterparts remain loose. The Federal Reserve may have telegraphed a fourth interest rate hike this year, but markets didn't quite get the message. After the conclusion Wednesday of its two-day meeting, the Federal Open Market Committee, through the so-called dot plot of individual members' expectations, indicated that it would increase rates two more times before 2018 ends . That would come on top of the quarter-point rate increase the committee approved at the meeting, as well as one already enacted in March. While the more aggressive tilt normally would trigger a corresponding move in the fed funds futures market, where contracts for the central bank's benchmark rate are traded, the response was minimal. As of Friday afternoon, traders were implying just a 55 percent chance of a fourth hike in December — a little better than a coin flip and just 10 percentage points or so above the chances before the meeting and the surprise dot-plot change. There are multiple reasons why the market is not buying into a more hawkish Fed. Primarily, they center on the belief that the central bank will have limited room to move considering the dovish position of many of its global counterparts. There also are fears that a Fed that is too hawkish could invert the curve on government bond yields and signal a recession. "I was of the view that the Fed will and should only go twice. Based on the recent data, it looks like the third hike is hard to argue against," said Joe LaVorgna, chief economist for the Americas at Natixis. "I just don't see the Fed being able to go as much as they want given where the curve is and the dots are. If the Fed hikes four times this year, the curve is going to invert in December." "Maybe they ignore that, maybe it doesn't mean anything, but that would trouble me," he added. The rate increase came as Fed officials gave the economy high marks, though it took just one member to move his or her dot higher on the chart to tilt the median toward another hike. Chairman Jerome Powell said that while the Fed is "not ready to declare victory" on its price stability mandate, he added that growth looks strong and able to support the central bank's continued march back toward normalization. The committee kept its benchmark rate anchored near zero for seven years until beginning to hike in December 2015. Wednesday's move pushes the target range for the rate to 1.75 percent to 2 percent. "The economy has strengthened so much since I've joined the Fed," Powell told reporters at a post-meeting news conference. "Really, the decision you see today is another sign that the U.S. economy is in great shape, growth is strong, the labor market is strong, inflation is close to target. That's what you're seeing." Still, traders were moved only a little by Powell's optimism. Two more hikes would translate to a target funds rate of 2.25 percent to 2.5 percent. But traders implied a 2.19 percent funds rate by December, which would get close to but fall short of the Fed's intentions. What will matter between now and then is data — how much more progress the economy makes toward a 2 percent inflation rate, and whether wage pressures will build that also would compel the Fed to act. On the other hand, continued unrest in emerging markets and signs that the U.S. bank is getting out of step with the pace of its global counterparts could give officials pause. Some economists believe the market's skepticism about a more aggressive Fed is ill-founded. "From the data we look at, there is every reason to believe the economy will more than justify the Fed's proposed trajectory for policy rates," Steve Blitz, chief U.S. economist at TS Lombard, said in a note to clients. "The trajectory for higher policy rates is in place. The market's 'bet' against that happening is what looks wrong." After all, the U.S. is on the path to possible GDP growth of 4 percent or more in the second quarter that could last throughout the year. The Fed could justify tightening faster than other central banks simply on the grounds that the U.S. is growing much better than most other major developed economies. Still, Tom Porcelli, chief U.S. economist at RBC Capital Markets, said "client chats" are indicating that "doubts remain." "Chairman Jay Powell used the word 'great' to specifically describe the backdrop twice and he used 'strong' about a dozen times," Porcelli said in a note. "Any doubts about their conviction on the path they see this hiking cycle taking should be long extinguished." More From CNBC • Cramer Remix: The Qualcomm-NXP deal could signal what’s next for trade • Cramer: Bitcoin and PayPal are putting pressure on bank stocks • Economic conditions 'too good' for stocks: Market veteran Jim Paulsen \|\| Investors Are Overlooking This Shareholder-Focused Chipmaker: Chipmakers have been a red-hot sector for what now seems like forever. In the last five years, the Philadelphia Semiconductor Index has advanced nearly 200%, versus the S&P 500's total return of 90%. Perhaps the most notable chipmaker during this period is GPU-maker NVIDIA , as its stock increased 1,800%. Against that backdrop, you can forgive investors for overlooking other companies in the sector, which is exactly what has happened to Texas Instruments (NASDAQ: TXN) . It's somewhat understandable, as Texas Instruments' key product, analog chips, don't elicit the same reaction from the technology community as NVIDIA's GPUs with their artificial intelligence (AI), data center, and gaming-focused applications. However, overlooked companies can often provide phenomenal returns below the radar. And that's just what Texas Instruments has done, slightly outpacing the semiconductor industry's return by advancing 227% during this same five-year period. Inside of an autonomous vehicle concept. Image Source: Getty Images Strong growth and improving margins will lead to more cash return While it certainly did not post the same growth rates as NVIDIA, Texas Instruments is outperforming the overall market. Last quarter, the company reported a 11.4% year-on-year revenue increase. The quarter marked the fourth out of the last five that the company has posted double-digit increases. In fiscal 2017, the company reported an 11.9% increase, a higher revenue growth rate than the prior year versus the S&P 500's 7% increase. Perhaps more important, Texas Instruments is growing its margins in the process. Operating income increased 3.7% over the prior-year quarter. The biggest driver was the company's transition from 200-millimeter analog production to 300-millimeter, a change that lowers the chip production costs by 40%. And in sales mix, higher-margin analog chips comprised a larger percentage of sales during the quarter. The combination of increased margins and revenue have boosted Texas Instruments' free cash flow. And the company's shareholder-friendly management team has stated in no uncertain terms that it expects to return essentially all its free cash flow to shareholders. In the last 12 months, Texas Instruments has returned $5.1 billion in share repurchases and dividends, roughly equivalent to 4.5% of its current market cap. Story continues Texas Instruments could be huge in the Internet of Things Expect Texas Instruments' free cash flow to continue to grow. Although analog chips may be boring compared to chips used in AI and gaming applications, it's likely that the former will have a huge role in the Internet of Things (IoT), as converting analog signals to digital will be a key part of the data collection and monitoring feedback processes needed to automate residential and industrial objects. To date, the IoT has progressed at a slower rate than many have predicted. But there's reason to expect growth to rapidly pick up in the next few years as the initial focus of the industrial IoT has turned to autonomous vehicles, with numerous automakers and technology companies in various stages of real-world testing. Market research firm IC Insights expects analog chips will be the fasting-growth chip category, averaging 6.6% annual growth between 2017 and 2022 on the back of analog automotive chips, with an expected 15% growth for auto analog this year. Texas Instruments is well situated here and in industrial IoT in general, with 35% of its 2017 revenue attributable to industrial applications and 19% to automotive applications. Texas Instruments may not have the appeal of other chipmakers, but the company has quietly reduced more than 43% of its shares outstanding since 2004 and provided investors with 14 years of consecutive dividend increases. Investors should expect both to continue. More From The Motley Fool 3 Growth Stocks at Deep-Value Prices 5 Expected Social Security Changes in 2018 6 Years Later, 6 Charts That Show How Far Apple, Inc. Has Come Since Steve Jobs' Passing 10 Best Stocks to Buy Today The $16,122 Social Security Bonus You Cannot Afford to Miss Bitcoin's Biggest Competitor Isn't Ethereum -- It's This Jamal Carnette, CFA owns shares of Texas Instruments. The Motley Fool owns shares of and recommends Nvidia. The Motley Fool has a disclosure policy . \|\| Investors Are Overlooking This Shareholder-Focused Chipmaker: Chipmakers have been a red-hot sector for what now seems like forever. In the last five years, the Philadelphia Semiconductor Index has advanced nearly 200%, versus the S&P 500's total return of 90%. Perhaps the most notable chipmaker during this period is GPU-makerNVIDIA, as its stock increased 1,800%. Against that backdrop, you can forgive investors for overlooking other companies in the sector, which is exactly what has happened toTexas Instruments(NASDAQ: TXN). It's somewhat understandable, as Texas Instruments' key product, analog chips, don't elicit the same reaction from the technology community as NVIDIA's GPUs with their artificial intelligence (AI), data center, and gaming-focused applications. However, overlooked companies can often provide phenomenal returns below the radar. And that's just what Texas Instruments has done, slightly outpacing the semiconductor industry's return by advancing 227% during this same five-year period. Image Source: Getty Images While it certainly did not post the same growth rates as NVIDIA, Texas Instruments is outperforming the overall market. Last quarter, the company reported a 11.4% year-on-year revenue increase. The quarter marked the fourth out of the last five that the company has posted double-digit increases. In fiscal 2017, the company reported an 11.9% increase, a higher revenue growth rate than the prior year versus the S&P 500's 7% increase. Perhaps more important, Texas Instruments is growing its margins in the process. Operating income increased 3.7% over the prior-year quarter. The biggest driver was the company's transition from 200-millimeter analog production to 300-millimeter, a change that lowers the chip production costs by 40%. And in sales mix, higher-margin analog chips comprised a larger percentage of sales during the quarter. The combination of increased margins and revenue have boosted Texas Instruments' free cash flow. And the company's shareholder-friendly management team has stated in no uncertain terms that it expects to return essentially all its free cash flow to shareholders. In the last 12 months, Texas Instruments has returned $5.1 billion in share repurchases and dividends, roughly equivalent to 4.5% of its current market cap. Expect Texas Instruments' free cash flow to continue to grow. Although analog chips may be boring compared to chips used in AI and gaming applications, it's likely that the former will have a huge role in theInternet of Things(IoT), as converting analog signals to digital will be a key part of the data collection and monitoring feedback processes needed to automate residential and industrial objects. To date, the IoT has progressed at a slower rate than many have predicted. But there's reason to expect growth to rapidly pick up in the next few years as the initial focus of the industrial IoT has turned to autonomous vehicles, withnumerous automakers and technology companiesin various stages of real-world testing. Market research firm IC Insights expects analog chips will be the fasting-growth chip category, averaging 6.6% annual growth between 2017 and 2022 on the back of analog automotive chips, with an expected 15% growth for auto analog this year. Texas Instruments is well situated here and in industrial IoT in general, with 35% of its 2017 revenue attributable to industrial applications and 19% to automotive applications. Texas Instruments may not have the appeal of other chipmakers, but the company has quietly reduced more than 43% of its shares outstanding since 2004 and provided investors with 14 years of consecutive dividend increases. Investors should expect both to continue. More From The Motley Fool • 3 Growth Stocks at Deep-Value Prices • 5 Expected Social Security Changes in 2018 • 6 Years Later, 6 Charts That Show How Far Apple, Inc. Has Come Since Steve Jobs' Passing • 10 Best Stocks to Buy Today • The $16,122 Social Security Bonus You Cannot Afford to Miss • Bitcoin's Biggest Competitor Isn't Ethereum -- It's This Jamal Carnette, CFAowns shares of Texas Instruments. The Motley Fool owns shares of and recommends Nvidia. The Motley Fool has adisclosure policy. \|\| Ford Is Still Cruising Along in Europe: Ford Motor Company (NYSE: F) said that its sales in Europe rose 0.6% in May from a very good year-ago result , on strong sales of SUVs, commercial vehicles, and a big jump in sales of the outgoing version of the compact Focus. Ford has nearly overcome a weak start to 2018 in the Old World, when its all-new Fiesta, a best-seller, was still in short supply. Now that its dealers have ample inventories of the little Ford -- and of Ford's smaller crossover SUVs -- the Blue Oval is keeping pace with a growing European market. Year to date, Ford's sales are down just 0.4% through May. A taupe Ford Fiesta hatchback parked in a European city. A smartly-dressed couple is standing nearby. The little Fiesta is still Ford's best-seller in Europe -- but good deals on the outgoing Focus gave it stiff competition last month. Image source: Ford Motor Company. The raw numbers Ford reports several sets of sales results for Europe, but two are particularly important. The first is for the 20 Western and Central European centuries that Ford thinks of as its primary market in Europe. (Ford refers to that group of countries as the "Euro 20.") The second is for all of Europe, including the countries of Eastern Europe, the former Soviet republics, Russia, and Turkey. (Ford calls the second group the "Euro 50.") Region May 2018 sales Change vs. May 2017 May 2018 market share Change vs. May 2017 Euro 20 118,700 0.6% 7.1% flat Euro 50 134,600 (1.6)% 7.1% (0.2) ppts Data source: Ford Motor Company. Sales totals are rounded to the nearest thousand. "Ppts" = percentage points. What's working for Ford in Europe: Small cars and crossovers Here are the results for Ford's five best-sellers in Europe in May. Vehicle May 2018 sales Change vs. May 2017 Fiesta 22,300 (9)% Focus 20,900 27% Kuga 13,300 13% Transit Custom 11,000 4% EcoSport 10,300 72% Data source: Ford Motor Company. Sales totals are rounded to the nearest thousand. Fiesta sales are off a bit from a year ago. That might seem surprising for a brand-new model that has been in high demand, but consider: Ford has an all-new Focus coming to Europe in a few months, and its dealers are clearing out stocks of the outgoing model. I bet more than a few customers who walked into a European Ford dealership last month intending to buy a new Fiesta in May ended up with a good deal on a one-size-up Focus instead. Story continues Ford's smaller crossover SUVs also did well in May, a good sign for Ford's second-quarter profits. The European EcoSport isn't quite all-new, but it received a significant update for 2018, and sales are up sharply from 2017 levels. The Kuga, the European version of the compact Escape, also had a strong month. Another positive sign for profitability: Demand for higher-trim Fords is up. While Europeans tend to favor smaller vehicles than Americans, they also tend to order them in plush trims, which give Ford more profit than you'd expect on something like a Fiesta or Focus. Ford said that what it calls "high-series" vehicles made up 69% of its passenger-car sales in the Euro 20 last month, up 6.9 percentage points from May of 2017. What isn't working: Ford's larger vehicles are struggling While Ford's Fiesta, Focus, and smaller crossovers are all doing well in Europe, its larger models are struggling. Vehicle May 2018 sales Change vs. May 2017 Mondeo 4,100 (16)% S-Max 1,600 (45)% Edge 1,100 (27)% Galaxy 900 (40)% Data source: Ford Motor Company. Sales totals are rounded to the nearest thousand. American readers will be familiar with the Ford Edge, which is the same two-row midsize crossover that Ford sells here in the U.S. What are the others? The Mondeo is the European version of the midsize Fusion. In Europe, it's offered in wagon and hatchback versions in addition to the familiar sedan. (But you'd recognize all three of them right way.) The S-Max is a tall wagon based on the Fusion. (You probably know the C-Max, a tall wagon based on the Focus. The S-Max is that, one size up.) The Galaxy is closely related to the S-Max, but it's a little bigger, with three rows of seats to the S-Max's two. It's essentially a minivan, but scaled down a bit for Europe. (And it's not related to the old Ford Galaxie sedan, of course, except in spirit -- it's a big kid-hauler, just as the 1960s Galaxie wagons were.) Why are sales of all of these vehicles down? Part of the answer may have to do with their drivetrains: All are offered with both diesel and gasoline engines; diesels have become a tougher sell in Europe in the wake of Volkswagen 's emissions-cheating scandal; and the gasoline engines use more fuel per kilometer than the diesels. Another part of the answer probably has to do with the same big trend we've seen in the U.S. and China: More buyers are choosing crossover SUVs. The Kuga's recent success could be coming at the expense of the S-Max and Mondeo to some extent. A red Ford S-Max, a tall five-passenger wagon, parked at an upscale beach. The Ford S-Max is a tall wagon that shares underpinnings with the Fusion sedan. Sales have been down as more European buyers have been choosing crossover SUVs. Image source: Ford Motor Company. The upshot: On balance, things are looking pretty good Ford's first-quarter result in Europe was mixed, in large part because of the Fiesta. The all-new version of Ford's European best-seller drove an improvement in net pricing, but sales were down because supplies were still tight. More broadly, that trend away from diesel engines, which in Ford's lineup tend to be part of higher-profit packages, and unfavorable exchange-rate movements didn't help, either. The upshot was a $90 million drop in profit in the first quarter , to $119 million. We still don't know how the diesel issue will affect Ford on an ongoing basis, and we don't quite know how the exchange-rate story will play out in the second quarter. But within the things Ford can control, the signs are good: Sales of the new Fiesta continue to be strong, and more buyers are choosing higher-profit trims. Assuming those trends continue in June, Ford has a good chance of improving on the $88 million in profit it earned in Europe in the second quarter of last year. More From The Motley Fool 3 Growth Stocks at Deep-Value Prices 5 Expected Social Security Changes in 2018 6 Years Later, 6 Charts That Show How Far Apple, Inc. Has Come Since Steve Jobs' Passing 10 Best Stocks to Buy Today The $16,122 Social Security Bonus You Cannot Afford to Miss Bitcoin's Biggest Competitor Isn't Ethereum -- It's This John Rosevear owns shares of Ford. The Motley Fool recommends Ford. The Motley Fool has a disclosure policy . \|\| Ford Is Still Cruising Along in Europe: Ford Motor Company(NYSE: F)said that its sales in Europe rose 0.6% in May from avery good year-ago result, on strong sales of SUVs, commercial vehicles, and a big jump in sales of the outgoing version of the compact Focus. Ford has nearly overcome a weak start to 2018 in the Old World, when its all-new Fiesta, a best-seller, was still in short supply. Now that its dealers have ample inventories of the little Ford -- and of Ford's smaller crossover SUVs -- the Blue Oval is keeping pace with a growing European market. Year to date, Ford's sales are down just 0.4% through May. The little Fiesta is still Ford's best-seller in Europe -- but good deals on the outgoing Focus gave it stiff competition last month. Image source: Ford Motor Company. Ford reports several sets of sales results for Europe, but two are particularly important. The first is for the 20 Western and Central European centuries that Ford thinks of as its primary market in Europe. (Ford refers to that group of countries as the "Euro 20.") The second is for all of Europe, including the countries of Eastern Europe, the former Soviet republics, Russia, and Turkey. (Ford calls the second group the "Euro 50.") [{"Region": "Euro 20", "May 2018 sales": "118,700", "Change vs. May 2017": "flat", "May 2018 market share": "7.1%"}, {"Region": "Euro 50", "May 2018 sales": "134,600", "Change vs. May 2017": "(0.2) ppts", "May 2018 market share": "7.1%"}] Data source: Ford Motor Company. Sales totals are rounded to the nearest thousand. "Ppts" = percentage points. Here are the results for Ford's five best-sellers in Europe in May. [{"Vehicle": "Fiesta", "May 2018 sales": "22,300", "Change vs. May 2017": "(9)%"}, {"Vehicle": "Focus", "May 2018 sales": "20,900", "Change vs. May 2017": "27%"}, {"Vehicle": "Kuga", "May 2018 sales": "13,300", "Change vs. May 2017": "13%"}, {"Vehicle": "Transit Custom", "May 2018 sales": "11,000", "Change vs. May 2017": "4%"}, {"Vehicle": "EcoSport", "May 2018 sales": "10,300", "Change vs. May 2017": "72%"}] Data source: Ford Motor Company. Sales totals are rounded to the nearest thousand. Fiesta sales are off a bit from a year ago. That might seem surprising for a brand-new model that has been in high demand, but consider: Ford has an all-new Focus coming to Europe in a few months, and its dealers are clearing out stocks of the outgoing model. I bet more than a few customers who walked into a European Ford dealership last month intending to buy a new Fiesta in May ended up with a good deal on a one-size-up Focus instead. Ford's smaller crossover SUVs also did well in May, a good sign for Ford's second-quarter profits. The European EcoSport isn't quite all-new, but it received a significant update for 2018, and sales are up sharply from 2017 levels. The Kuga, the European version of the compact Escape, also had a strong month. Another positive sign for profitability: Demand for higher-trim Fords is up. While Europeans tend to favor smaller vehicles than Americans, they also tend to order them in plush trims, which give Ford more profit than you'd expect on something like a Fiesta or Focus. Ford said that what it calls "high-series" vehicles made up 69% of its passenger-car sales in the Euro 20 last month, up 6.9 percentage points from May of 2017. While Ford's Fiesta, Focus, and smaller crossovers are all doing well in Europe, its larger models are struggling. [{"Vehicle": "Mondeo", "May 2018 sales": "4,100", "Change vs. May 2017": "(16)%"}, {"Vehicle": "S-Max", "May 2018 sales": "1,600", "Change vs. May 2017": "(45)%"}, {"Vehicle": "Edge", "May 2018 sales": "1,100", "Change vs. May 2017": "(27)%"}, {"Vehicle": "Galaxy", "May 2018 sales": "900", "Change vs. May 2017": "(40)%"}] Data source: Ford Motor Company. Sales totals are rounded to the nearest thousand. American readers will be familiar with the Ford Edge, which is the same two-row midsize crossover that Ford sells here in the U.S. What are the others? • The Mondeo is the European version of the midsize Fusion. In Europe, it's offered in wagon and hatchback versions in addition to the familiar sedan. (But you'd recognize all three of them right way.) • The S-Max is a tall wagon based on the Fusion. (You probably know the C-Max, a tall wagon based on the Focus. The S-Max is that, one size up.) • The Galaxy is closely related to the S-Max, but it's a little bigger, with three rows of seats to the S-Max's two. It's essentially a minivan, but scaled down a bit for Europe. (And it's not related to the old Ford Galaxie sedan, of course, except in spirit -- it's a big kid-hauler, just as the 1960s Galaxie wagons were.) Why are sales of all of these vehicles down? Part of the answer may have to do with their drivetrains: All are offered with both diesel and gasoline engines; diesels have become a tougher sell in Europe in the wake ofVolkswagen's emissions-cheating scandal; and the gasoline engines use more fuel per kilometer than the diesels. Another part of the answer probably has to do with the same big trend we've seen in the U.S. and China: More buyers are choosing crossover SUVs. The Kuga's recent success could be coming at the expense of the S-Max and Mondeo to some extent. The Ford S-Max is a tall wagon that shares underpinnings with the Fusion sedan. Sales have been down as more European buyers have been choosing crossover SUVs. Image source: Ford Motor Company. Ford's first-quarter result in Europe was mixed, in large part because of the Fiesta. The all-new version of Ford's European best-seller drove an improvement in net pricing, but sales were down because supplies were still tight. More broadly, that trend away from diesel engines, which in Ford's lineup tend to be part of higher-profit packages, and unfavorable exchange-rate movements didn't help, either. The upshot was a$90 million drop in profit in the first quarter, to $119 million. We still don't know how the diesel issue will affect Ford on an ongoing basis, and we don't quite know how the exchange-rate story will play out in the second quarter. But within the things Ford can control, the signs are good: Sales of the new Fiesta continue to be strong, and more buyers are choosing higher-profit trims. Assuming those trends continue in June, Ford has a good chance of improving on the$88 million in profitit earned in Europe in the second quarter of last year. More From The Motley Fool • 3 Growth Stocks at Deep-Value Prices • 5 Expected Social Security Changes in 2018 • 6 Years Later, 6 Charts That Show How Far Apple, Inc. Has Come Since Steve Jobs' Passing • 10 Best Stocks to Buy Today • The $16,122 Social Security Bonus You Cannot Afford to Miss • Bitcoin's Biggest Competitor Isn't Ethereum -- It's This John Rosevearowns shares of Ford. The Motley Fool recommends Ford. The Motley Fool has adisclosure policy. \|\| Retired? 2 Stocks You Should Consider Buying: If you're retired, you've likely shifted from building your nest egg to trying to live off of your savings. That means you'll want to look at stocks that are relatively safe and pay a generous dividend. Investors have punished the stocks of giant U.S. utility Southern Company (NYSE: SO) and packaged-food specialist General Mills (NYSE: GIS) for what are likely to be near-term problems, leading to big dividend yields. Although each has some issues to deal with, the real risks are less than they appear for investors willing to think long term. Both should interest retired investors today. 1. A giant, high-yield utility Southern is one of the largest electric and natural gas utilities in the United States. The stock is down 20% from the highs it reached in mid-2016. The yield is a robust 5.1%, more than twice the yield offered by an S&P 500 Index fund. And Southern's beta, a measure of relative volatility , has been extremely low over the past five years, with the stock at times moving in the opposite direction of the overall market. Three golden eggs sitting in a basket made of dollar bills If it's time to live off of your hard-earned savings, then high-yield stocks are a good place to start. Image source: Getty Images. There are a few headwinds facing Southern today. First, rising interest rates have helped push the shares lower this year, but that's an industrywide issue that Southern can't do anything about. Second, Southern has a major nuclear power project, known as Vogtle, that hasn't been going very well. It was over budget and missing key construction deadlines when its contractor Westinghouse declared bankruptcy last year. But Southern has taken greater control of the project and switched to a new contractor. Since this change, the project has been hitting its key milestones. The third issue is funding the company's over $30 billion in capital spending plans, which notably include the nuclear power plants. This spending is expected to drive 4% to 6% earnings and dividend growth, but only if Southern can pay for it. On this front, the utility ended the first quarter with $6.2 billion in liquidity. It since has agreed to sell assets or interests in assets to raise additional cash, including a Florida utility and a piece of its solar business. Story continues These moves should reduce debt and leave ample cash for capital projects once they're consummated. Fears over massive dilutive stock sales, which have been hampering the shares lately, are unlikely to come to fruition. An update on Southern's nuclear power project explaining that it is on time and on budget with the adjusted plans Southern's first-quarter update on its Vogtle nuclear power plant. Image source: The Southen Co. Essentially, Southern has been addressing the issues it can control -- funding investment plans and righting the Vogtle nuclear project. With the utility's yield at the high-end of its range over the past decade, it would make a good addition to a retirement portfolio as it begins to deal with some of the concerns that have led to its relatively low share price. 2. A big deal, but risk is priced in Next up is General Mills, the iconic packaged-foods company that owns name brands like Cheerios and Betty Crocker. Don't look at the company as a food maker, however, because it's really a brand manager. In fact, at a recent conference, CEO Jeffrey Hardmening made sure to point out that the company uses its global distribution system, product development skills, and advertising heft to support a collection of leading brands... that change over time. The stock is down 40% from its 2016 highs and lower by nearly 30% in 2018 alone. That's pushed the yield up to a very generous 4.4%. That's at the high end of the historical range for General Mills' dividend yield, making it worth a deep look from retired investors. SO Dividend Yield (TTM) Chart SO Dividend Yield (TTM) data by YCharts. General Mills is facing three main issues. First, changing consumer tastes have led to weak sales for packaged-food makers. However, the company has been taking steps to adjust, and fiscal third-quarter sales were up 1% year over year. Not a great showing, but a solid one. The second issue is profitability, which has been hampered by increasing costs, notably for transportation (profit margin fell 1.2 percentage points year over year in the quarter, to 15.7%). General Mills is planning on pushing through price increases to address this issue. The third problem dragging General Mills shares lower today was the recent roughly $8 billion acquisition of fast-growing premium pet-food maker Blue Buffalo . This deal will push General Mills' debt higher at a time when profitability is being constrained by rising costs. However, the company has stated that it's committed to maintaining the dividend at the current level, with plans to focus on debt repayment over the next few years. That's likely to include non-core asset sales. With regard to integrating this new business, General Mills has a successful track record of taking on new brands, like Annie's, and using its scale to broaden the acquired brand's product lineup and distribution. The cost was material here, but the potential to leverage General Mills' business strengths is huge. The worst-case scenario is that the deal is a dud. But giant General Mills, despite notable leverage (long-term debt was around 60% of the capital structure before the Blue Buffalo deal), likely has the financial strength to muddle through such an outcome and keep rewarding investors with a hefty dividend . With such a large stock price decline, however, even this risk appears to be priced in today. Retired investors willing to take a long-term view of the situation should be taking a close look at General Mills. Short-term thinking is your friend Benjamin Graham is famous for saying that the stock market is a voting machine over the short term and a weighing machine over the long term. That's a nice way to say that investors often get caught up in short-term issues that aren't likely to have a major long-term impact on a company, pushing the shares lower temporarily. Southern and General Mills both appear to be dealing with short-term thinking today, creating a high-yield opportunity for investors willing to think long term. More From The Motley Fool 3 Growth Stocks at Deep-Value Prices 5 Expected Social Security Changes in 2018 6 Years Later, 6 Charts That Show How Far Apple, Inc. Has Come Since Steve Jobs' Passing 10 Best Stocks to Buy Today The $16,122 Social Security Bonus You Cannot Afford to Miss Bitcoin's Biggest Competitor Isn't Ethereum -- It's This Reuben Gregg Brewer owns shares of General Mills and Southern Company. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy . \|\| Retired? 2 Stocks You Should Consider Buying: If you're retired, you've likely shifted from building your nest egg to trying to live off of your savings. That means you'll want to look at stocks that are relatively safe and pay a generous dividend. Investors have punished the stocks of giant U.S. utilitySouthern Company(NYSE: SO)and packaged-food specialistGeneral Mills(NYSE: GIS)for what are likely to be near-term problems, leading to big dividend yields. Although each has some issues to deal with, the real risks are less than they appear for investors willing to think long term. Both should interest retired investors today. Southern is one of the largest electric and natural gas utilities in the United States. The stock is down 20% from the highs it reached in mid-2016. The yield is a robust 5.1%, more than twice the yield offered by an S&P 500 Index fund. And Southern'sbeta, a measure of relative volatility, has been extremely low over the past five years, with the stock at times moving in the opposite direction of the overall market. If it's time to live off of your hard-earned savings, then high-yield stocks are a good place to start. Image source: Getty Images. There are a few headwinds facing Southern today. First, rising interest rates have helped push the shares lower this year, but that's an industrywide issue that Southern can't do anything about. Second, Southern has a major nuclear power project, known as Vogtle, that hasn't been going very well. It was over budget and missing key construction deadlines whenits contractor Westinghouse declared bankruptcylast year. But Southern has taken greater control of the project and switched to a new contractor. Since this change, the project has been hitting its key milestones. The third issue is funding the company's over $30 billion in capital spending plans, which notably include the nuclear power plants. This spending is expected to drive 4% to 6% earnings and dividend growth, but only if Southern can pay for it. On this front, the utility ended the first quarter with $6.2 billion in liquidity. It since has agreed to sell assets or interests in assets to raise additional cash, including a Florida utility and a piece of its solar business. These moves should reduce debt and leave ample cash for capital projects once they're consummated. Fears over massive dilutive stock sales, which have been hampering the shares lately, are unlikely to come to fruition. Southern's first-quarter update on its Vogtle nuclear power plant. Image source: The Southen Co. Essentially, Southern has been addressing the issues it can control -- funding investment plans and righting the Vogtle nuclear project. With the utility's yield at the high-end of its range over the past decade, it would make a good addition to a retirement portfolio as it begins to deal with some of the concerns that have led to its relatively low share price. Next up is General Mills, the iconic packaged-foods company that owns name brands like Cheerios and Betty Crocker. Don't look at the company as a food maker, however, because it's really a brand manager. In fact, at a recent conference, CEO Jeffrey Hardmening made sure to point out that the company uses its global distribution system, product development skills, and advertising heft to support a collection of leading brands... that change over time. The stock is down 40% from its 2016 highs and lower by nearly 30% in 2018 alone. That's pushed the yield up to a very generous 4.4%. That's at the high end of the historical range for General Mills' dividend yield, making it worth a deep look from retired investors. SO Dividend Yield (TTM)data byYCharts. General Mills is facing three main issues. First, changing consumer tastes have led to weak sales for packaged-food makers. However, the company has been taking steps to adjust, and fiscal third-quarter sales were up 1% year over year. Not a great showing, but a solid one. The second issue is profitability, which has been hampered by increasing costs, notably for transportation (profit margin fell 1.2 percentage points year over year in the quarter, to 15.7%). General Mills is planning on pushing through price increases to address this issue. The third problem dragging General Mills shares lower today was the recent roughly $8 billionacquisition of fast-growing premium pet-food maker Blue Buffalo. This deal will push General Mills' debt higher at a time when profitability is being constrained by rising costs. However, the company has stated that it's committed to maintaining the dividend at the current level, with plans to focus on debt repayment over the next few years. That's likely to include non-core asset sales. With regard to integrating this new business, General Mills has a successful track record of taking on new brands, like Annie's, and using its scale to broaden the acquired brand's product lineup and distribution. The cost was material here, but the potential to leverage General Mills' business strengths is huge. The worst-case scenario is that the deal is a dud. But giant General Mills, despite notable leverage (long-term debt was around 60% of the capital structure before the Blue Buffalo deal), likelyhas the financial strength to muddle through such an outcome and keep rewarding investors with a hefty dividend. With such a large stock price decline, however, even this risk appears to be priced in today. Retired investors willing to take a long-term view of the situation should be taking a close look at General Mills. Benjamin Graham is famous for saying that the stock market is a voting machine over the short term and a weighing machine over the long term. That's a nice way to say that investors often get caught up in short-term issues that aren't likely to have a major long-term impact on a company, pushing the shares lower temporarily. Southern and General Mills both appear to be dealing with short-term thinking today, creating a high-yield opportunity for investors willing to think long term. More From The Motley Fool • 3 Growth Stocks at Deep-Value Prices • 5 Expected Social Security Changes in 2018 • 6 Years Later, 6 Charts That Show How Far Apple, Inc. Has Come Since Steve Jobs' Passing • 10 Best Stocks to Buy Today • The $16,122 Social Security Bonus You Cannot Afford to Miss • Bitcoin's Biggest Competitor Isn't Ethereum -- It's This Reuben Gregg Brewerowns shares of General Mills and Southern Company. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has adisclosure policy. \|\| Disruptor Alert: These 3 Companies Are Changing Retail: The rise of e-commerce has rocked the retail industry like nothing before. The brick-and-mortar storefront, a model that has persisted for thousands of years, is being gradually replaced by online retail, and the convenience of shopping from home or a smartphone is changing the way retailers, both physical and online, do business. Not surprisingly, more than a few disruptive companies have emerged in this climate as mobile technology created opportunities that previously didn't exist. Let's take a look at few companies that are changing the retail industry. Image source: Getty Images. Personalized styling services have emerged as one type of innovation in clothing retail, but no one is doing it better thanStitch Fix(NASDAQ: SFIX), which is much larger than any of its direct competitors. At a market value of $2.5 billion, the company is the only publicly traded pure-play styling service. Stitch Fix is disrupting apparel retail by giving consumers the ability to buy new clothes without the time, energy, and hassle that normally goes into shopping. Unlike traditional retail or even online options, Stitch Fix doesn't allow you to choose your own clothes. Instead, it sends you five items at a time based on an interface through which you select your style preferences, budget, and fit. Customers only pay for what they want to keep and return the rest. The fee for the service is $20, which is credited toward whatever items the customer decides to purchase. This is all done online, which means Stitch Fix has heaps of data on what customers like and how its clothes fit, giving it a distinct advantage over traditional retail, which does not collect any such information. Management often talks about how the company uses data science and algorithms to help select clothes for its customers. Thus far, the service seems to be picking up steam as revenue growth accelerated to 29% in its most recent quarter, and the company posted a wider profit than expected. Stitch Fix -- which already has petite and maternity offshoots from its standard offerings for men and women -- is preparing to launch a kids' line, showing that the company has plenty of room for growth as it moves intonew product categories. Don't be surprised if Stitch Fix continues to take share from traditional clothing retailers. Home Depot(NYSE: HD)may seem like an odd choice because the company is seen by many consumers as a typical big-box chain; however, the home-improvement retailer is changing quickly and pushing the envelope in a number of ways. It was early among brick-and-mortar chains to recognize the opportunity in e-commerce as it essentiallystopped opening stores10 years ago and instead invested that money in its current store base and building out its online capabilities. Arguably, no retailer has done a better job at integrating digital technologies with the in-store experience. More than 40% of Home Depot's online orders are now picked up in stores as the company has focused its e-commerce strategy around products that don't lend themselves to online retail. It offers in-store demonstrations for customers who want to learn more about products or home improvement projects. Its associates all carry interactive smartphones to help them assist customers, and its mobile app uses augmented reality to help customers see how products would look inside their homes. The company was even named one of the 50 Most Innovative Retailers byFast Companylast year. In April, Home Depot said it was hiring 1,000 technology associates to work on projects relating to artificial intelligence, machine learning, and augmented reality. It's no surprise that the company has consistently outperformed rivalLowe'sand has been one of the best-performing retail stocks over the last decade. It's impossible to discuss retail disruption without mentioningAmazon.com(NASDAQ: AMZN). Since its inception, the e-commerce giant has been rewriting the rules of retail with innovations like its Prime loyalty program, which has won over 100 million customers with benefits including free two-day delivery. Amazon continues to roil its competition with new initiatives, such as rolling out free same-day delivery from Whole Foods locations following its acquisition of the grocery chain a year ago, and it's also experimenting with a high-tech, cashier-lessAmazon Gostore. Using a network of cameras and artificial intelligence, the store charges customers automatically based on what they take off the shelves and has no checkouts or lines. It's unclear what the future of Amazon Go will be, or if such technology will become mainstream, but according to reports, the company is planning to expand the concept to six new stores in addition to the original one in Seattle. Meanwhile, Amazon continues to innovate in other ways, testing drone delivery and using robots in its warehouses, and its core philosophies like being customer-focused and building for the long term have put pressure across the retail industry to follow suit. Margins, for example, have generally fallen once Amazon enters a sector. Its tech prowess in areas like cloud computing and voice-activated technology also give it a leg up on the competition. Companies across the retail spectrum are striving to reinvent themselves thanks to pressure from Amazon and others, but as the retail industry continues to evolve, these three companies will be among the leaders. More From The Motley Fool • 3 Growth Stocks at Deep-Value Prices • 5 Expected Social Security Changes in 2018 • 6 Years Later, 6 Charts That Show How Far Apple, Inc. Has Come Since Steve Jobs' Passing • 10 Best Stocks to Buy Today • The $16,122 Social Security Bonus You Cannot Afford to Miss • Bitcoin's Biggest Competitor Isn't Ethereum -- It's This John Mackey, CEO of Whole Foods Market, an Amazon subsidiary, is a member of The Motley Fool's board of directors.Jeremy Bowmanowns shares of Stitch Fix. The Motley Fool owns shares of and recommends Amazon. The Motley Fool owns shares of Stitch Fix and has the following options: short September 2018 $180 calls on Home Depot and long January 2020 $110 calls on Home Depot. The Motley Fool recommends Home Depot. The Motley Fool has adisclosure policy. \|\| Disruptor Alert: These 3 Companies Are Changing Retail: The rise of e-commerce has rocked the retail industry like nothing before. The brick-and-mortar storefront, a model that has persisted for thousands of years, is being gradually replaced by online retail, and the convenience of shopping from home or a smartphone is changing the way retailers, both physical and online, do business. Not surprisingly, more than a few disruptive companies have emerged in this climate as mobile technology created opportunities that previously didn't exist. Let's take a look at few companies that are changing the retail industry. A hand holding a lightbulb with constellations above it Image source: Getty Images. 1. Stitch Fix Personalized styling services have emerged as one type of innovation in clothing retail, but no one is doing it better than Stitch Fix (NASDAQ: SFIX) , which is much larger than any of its direct competitors. At a market value of $2.5 billion, the company is the only publicly traded pure-play styling service. Stitch Fix is disrupting apparel retail by giving consumers the ability to buy new clothes without the time, energy, and hassle that normally goes into shopping. Unlike traditional retail or even online options, Stitch Fix doesn't allow you to choose your own clothes. Instead, it sends you five items at a time based on an interface through which you select your style preferences, budget, and fit. Customers only pay for what they want to keep and return the rest. The fee for the service is $20, which is credited toward whatever items the customer decides to purchase. This is all done online, which means Stitch Fix has heaps of data on what customers like and how its clothes fit, giving it a distinct advantage over traditional retail, which does not collect any such information. Management often talks about how the company uses data science and algorithms to help select clothes for its customers. Thus far, the service seems to be picking up steam as revenue growth accelerated to 29% in its most recent quarter, and the company posted a wider profit than expected. Stitch Fix -- which already has petite and maternity offshoots from its standard offerings for men and women -- is preparing to launch a kids' line, showing that the company has plenty of room for growth as it moves into new product categories . Don't be surprised if Stitch Fix continues to take share from traditional clothing retailers. Story continues 2. Home Depot Home Depot (NYSE: HD) may seem like an odd choice because the company is seen by many consumers as a typical big-box chain; however, the home-improvement retailer is changing quickly and pushing the envelope in a number of ways. It was early among brick-and-mortar chains to recognize the opportunity in e-commerce as it essentially stopped opening stores 10 years ago and instead invested that money in its current store base and building out its online capabilities. Arguably, no retailer has done a better job at integrating digital technologies with the in-store experience. More than 40% of Home Depot's online orders are now picked up in stores as the company has focused its e-commerce strategy around products that don't lend themselves to online retail. It offers in-store demonstrations for customers who want to learn more about products or home improvement projects. Its associates all carry interactive smartphones to help them assist customers, and its mobile app uses augmented reality to help customers see how products would look inside their homes. The company was even named one of the 50 Most Innovative Retailers by Fast Company last year. In April, Home Depot said it was hiring 1,000 technology associates to work on projects relating to artificial intelligence, machine learning, and augmented reality. It's no surprise that the company has consistently outperformed rival Lowe's and has been one of the best-performing retail stocks over the last decade. 3. Amazon It's impossible to discuss retail disruption without mentioning Amazon.com (NASDAQ: AMZN) . Since its inception, the e-commerce giant has been rewriting the rules of retail with innovations like its Prime loyalty program, which has won over 100 million customers with benefits including free two-day delivery. Amazon continues to roil its competition with new initiatives, such as rolling out free same-day delivery from Whole Foods locations following its acquisition of the grocery chain a year ago, and it's also experimenting with a high-tech, cashier-less Amazon Go store. Using a network of cameras and artificial intelligence, the store charges customers automatically based on what they take off the shelves and has no checkouts or lines. It's unclear what the future of Amazon Go will be, or if such technology will become mainstream, but according to reports, the company is planning to expand the concept to six new stores in addition to the original one in Seattle. Meanwhile, Amazon continues to innovate in other ways, testing drone delivery and using robots in its warehouses, and its core philosophies like being customer-focused and building for the long term have put pressure across the retail industry to follow suit. Margins, for example, have generally fallen once Amazon enters a sector. Its tech prowess in areas like cloud computing and voice-activated technology also give it a leg up on the competition. Companies across the retail spectrum are striving to reinvent themselves thanks to pressure from Amazon and others, but as the retail industry continues to evolve, these three companies will be among the leaders. More From The Motley Fool 3 Growth Stocks at Deep-Value Prices 5 Expected Social Security Changes in 2018 6 Years Later, 6 Charts That Show How Far Apple, Inc. Has Come Since Steve Jobs' Passing 10 Best Stocks to Buy Today The $16,122 Social Security Bonus You Cannot Afford to Miss Bitcoin's Biggest Competitor Isn't Ethereum -- It's This John Mackey, CEO of Whole Foods Market, an Amazon subsidiary, is a member of The Motley Fool's board of directors. Jeremy Bowman owns shares of Stitch Fix. The Motley Fool owns shares of and recommends Amazon. The Motley Fool owns shares of Stitch Fix and has the following options: short September 2018 $180 calls on Home Depot and long January 2020 $110 calls on Home Depot. The Motley Fool recommends Home Depot. The Motley Fool has a disclosure policy . \|\| Why Intel Shouldn't Do a Stock Split Yet: During Intel 's (NASDAQ: INTC) most recent stockholder meeting, one investor asked management the following question : What about doing a stock split to make shareholders like myself be more in tune with Intel? Intel's response, predictably, boiled down to, "No comment." Room with six chairs, curved wall with blue lights on baseboard and ceiling trim, and Intel logo on wall. Image source: Intel. It might seem that this question-and-answer pair isn't that useful to current and prospective investors, since it's not entirely clear from the question what the investor meant by making Intel more "in tune" with fellow shareholders. But it does raise the issue of whether Intel should do a stock split , and my answer to that is no. Intel's stock is accessible One reason that companies split their stocks is that it makes the stock seem more accessible to a broader set of shareholders. For example, if an investor puts away $1,000 per month into their retirement account and they want to use that money to buy shares of a company that they really like, it'd be much easier for them to make regular purchases of that company's stock if each share cost $50 instead of, say, $5,000 (in that case, they'd have to either buy a fifth of a share each month -- something that can be hard to do -- or wait five months to buy a single share). Now, to be clear, whether a stock is worth $50 per share or $5,000 per share, a $1,000 investment is still a $1,000 investment. However, for many individual investors, especially those starting out with relatively little investment capital, a stock that's worth $50 per share may simply seem more accessible than a stock that's worth $5,000. In the case of Intel, I think at $55.05 (where the stock last traded as of this writing), the stock is still accessible to many individual investors. An investor with even reasonably modest capital should be able to buy a solid amount of Intel stock at the current share price. When should Intel stock split? As far as I'm concerned, a company should seriously start thinking about splitting its stock when it becomes worth more than, say, $100 per share. At that point, it's a lot more difficult for many individual investors to buy a psychologically pleasing number of shares (e.g., 50 shares or 100 shares). That perceived inaccessibility could turn potential individual investors off to the stock. Story continues And, of course, it's generally not a good idea for a company to have potential investors put off from buying its stock -- after all, the more demand there is for a company's shares, the more the company could be worth. For some perspective, Intel stock currently trades at just under 16 times trailing-12-month earnings. For Intel stock to be worth $100 at that multiple , the company would need to earn $6.25 per share. That's probably not going to happen anytime soon. Current analyst estimates call for Intel to rake in $3.83 in earnings per share in 2019 and then $4.54 per share by 2020. If Intel winds up hitting those estimates (though there are, of course, risks that could prevent Intel from getting there), then I could see the stock hitting roughly $72 per share by the 2020 time frame. At that point, if Intel management can see a path to around $6.25 in earnings per share, then it might want to start thinking about a stock split. But that seems like it'd be many years off, so for now I don't think Intel needs to deal with splitting its stock. More From The Motley Fool 3 Growth Stocks at Deep-Value Prices 5 Expected Social Security Changes in 2018 6 Years Later, 6 Charts That Show How Far Apple, Inc. Has Come Since Steve Jobs' Passing 10 Best Stocks to Buy Today The $16,122 Social Security Bonus You Cannot Afford to Miss Bitcoin's Biggest Competitor Isn't Ethereum -- It's This Ashraf Eassa has no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy . \|\| Why Intel Shouldn't Do a Stock Split Yet: During Intel 's (NASDAQ: INTC) most recent stockholder meeting, one investor asked management the following question : What about doing a stock split to make shareholders like myself be more in tune with Intel? Intel's response, predictably, boiled down to, "No comment." Room with six chairs, curved wall with blue lights on baseboard and ceiling trim, and Intel logo on wall. Image source: Intel. It might seem that this question-and-answer pair isn't that useful to current and prospective investors, since it's not entirely clear from the question what the investor meant by making Intel more "in tune" with fellow shareholders. But it does raise the issue of whether Intel should do a stock split , and my answer to that is no. Intel's stock is accessible One reason that companies split their stocks is that it makes the stock seem more accessible to a broader set of shareholders. For example, if an investor puts away $1,000 per month into their retirement account and they want to use that money to buy shares of a company that they really like, it'd be much easier for them to make regular purchases of that company's stock if each share cost $50 instead of, say, $5,000 (in that case, they'd have to either buy a fifth of a share each month -- something that can be hard to do -- or wait five months to buy a single share). Now, to be clear, whether a stock is worth $50 per share or $5,000 per share, a $1,000 investment is still a $1,000 investment. However, for many individual investors, especially those starting out with relatively little investment capital, a stock that's worth $50 per share may simply seem more accessible than a stock that's worth $5,000. In the case of Intel, I think at $55.05 (where the stock last traded as of this writing), the stock is still accessible to many individual investors. An investor with even reasonably modest capital should be able to buy a solid amount of Intel stock at the current share price. When should Intel stock split? As far as I'm concerned, a company should seriously start thinking about splitting its stock when it becomes worth more than, say, $100 per share. At that point, it's a lot more difficult for many individual investors to buy a psychologically pleasing number of shares (e.g., 50 shares or 100 shares). That perceived inaccessibility could turn potential individual investors off to the stock. Story continues And, of course, it's generally not a good idea for a company to have potential investors put off from buying its stock -- after all, the more demand there is for a company's shares, the more the company could be worth. For some perspective, Intel stock currently trades at just under 16 times trailing-12-month earnings. For Intel stock to be worth $100 at that multiple , the company would need to earn $6.25 per share. That's probably not going to happen anytime soon. Current analyst estimates call for Intel to rake in $3.83 in earnings per share in 2019 and then $4.54 per share by 2020. If Intel winds up hitting those estimates (though there are, of course, risks that could prevent Intel from getting there), then I could see the stock hitting roughly $72 per share by the 2020 time frame. At that point, if Intel management can see a path to around $6.25 in earnings per share, then it might want to start thinking about a stock split. But that seems like it'd be many years off, so for now I don't think Intel needs to deal with splitting its stock. More From The Motley Fool 3 Growth Stocks at Deep-Value Prices 5 Expected Social Security Changes in 2018 6 Years Later, 6 Charts That Show How Far Apple, Inc. Has Come Since Steve Jobs' Passing 10 Best Stocks to Buy Today The $16,122 Social Security Bonus You Cannot Afford to Miss Bitcoin's Biggest Competitor Isn't Ethereum -- It's This Ashraf Eassa has no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy . \|\| Constellation Brands Has a Secret Weapon in the Beer Wars: Trump's Tariffs: During the 2016 U.S. presidential campaign, then-candidate Donald Trump made controversial proposals about his desire to institute tariffs and renegotiate longstanding trade deals. Today, President Trump's threats of tariffs have become reality, with the president recently initiating tariffs on imported steel and aluminum. Initially, Trump exempted Mexico, Canada, and the European Union as they are often reliable trading partners, but he has since reversed the exemptions. As the currency of the U.S.' most dependent trading partner, Mexico's peso tumbled to a one-year low versus the U.S. dollar. Yet oddly enough,Constellation Brands(NYSE: STZ)and its host of Mexican beers stand to benefit directly from Trump's tariffs. Image Source: Getty Images. Most companies source some, or all, of their products or labor from foreign markets to sell in their home market and around the world. For U.S. companies, the most optimal situation is when the U.S. dollar strengthens versus the local currency of sourcing countries, making thecost of goods sold(COGS) cheaper. In a perverse way, Trump's tariffs benefit nontargeted industries and companies that rely on imported goods from those countries as a part of their cost of goods sold,provided steel and aluminum isn't a significant component of COGS. That's because the dollar should now buy more Mexican labor and raw materials. As the chart shows, the peso has significantly weakened in the last year,. pushing past the 20 peso level, a level rarely attained in the last decade. US Dollar to Mexican Peso Exchange Ratedata byYCharts. Note: Conventional presentation is Mexican pesos per $1, so higher figures mean peso devaluation. With that in mind, perhaps there's no company better positioned for a decrease in the Mexican peso than Constellation Brands. First, the clear majority of its brewing operations and brands -- Modelo, Corona Extra, and Corona Light -- are from our neighbors to the south, and most of its sales are in the United States. For example, Corona Extra is the best-selling imported beer in the United States, and 97% of Constellation's total sales were in the United States last year. Therefore, a weaker peso affords Constellation options to better compete against its U.S-brewed peers. The company can leave its pricing unchanged and experience margin expansion and possible higher equity prices. It can lower prices in order to grow market share, spend on other nondirect expenses (like marketing) to increase brand awareness, or a combination of all of the above. There's already evidence this is occurring: In its fiscal 2018 earnings report, Constellation noted its beer operating margin increased by more than 3 percentage points to 39.5%, citing "foreign currency favorability" as a reason for the increase. Although Constellation is partially hedged for currency changes from both a balance sheet and transactional basis, a cheaper peso will allow the company to lock in more favorable hedges for longer. A lower peso is more important than current transactions, however. Constellation continues to spend heavily to build out operations south of the border, having already spent $2.9 billion toincrease its Mexican capacityto 31.5 million hectoliters, including a new glass production plant that should lower the production cost of glass over and above the currency savings. The current container mix for U.S. beverages are 70% glass and 27% aluminum, although it's likely now glass will take a larger role due to tariff avoidance and cheaper sourcing via the new glass plant. Additional plans are to further increase production by an additional 12.5 million hectoliters in the next five years. Not only is this becoming cheaper in U.S. dollars due to FX effects, but the new tax law makes a significant portion of capex immediately expensible, which lowers cost as well. Prudent corporate finance calls for Constellation to expedite its planned capital expenditures to take advantage of the dollar's strength. Constellation Brands is in a delicate situation; although the company benefits from targeted tariffs and the threat of trade issues, like most companies it has a vested interest in targeted tariffs not devolving into full-fledged trade wars and embargoes. Most likely, share prices across the board will be heavily affected, however, not just for companies that source in Mexico. It's likely that the worst-case scenario for trade will not occur. However, in the interim, look for Constellation to take advantage of a cheaper peso to grow operating margins and profit in the short term while investing in the country via new plants and equipment to grow operating margins over the long term. More From The Motley Fool • 3 Growth Stocks at Deep-Value Prices • 5 Expected Social Security Changes in 2018 • 6 Years Later, 6 Charts That Show How Far Apple, Inc. Has Come Since Steve Jobs' Passing • 10 Best Stocks to Buy Today • The $16,122 Social Security Bonus You Cannot Afford to Miss • Bitcoin's Biggest Competitor Isn't Ethereum -- It's This Jamal Carnette, CFAhas no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has adisclosure policy. \|\| Constellation Brands Has a Secret Weapon in the Beer Wars: Trump's Tariffs: During the 2016 U.S. presidential campaign, then-candidate Donald Trump made controversial proposals about his desire to institute tariffs and renegotiate longstanding trade deals. Today, President Trump's threats of tariffs have become reality, with the president recently initiating tariffs on imported steel and aluminum. Initially, Trump exempted Mexico, Canada, and the European Union as they are often reliable trading partners, but he has since reversed the exemptions. As the currency of the U.S.' most dependent trading partner, Mexico's peso tumbled to a one-year low versus the U.S. dollar. Yet oddly enough, Constellation Brands (NYSE: STZ) and its host of Mexican beers stand to benefit directly from Trump's tariffs. Mashup of U.S. and Mexican flags. Image Source: Getty Images. Foreign exchange 101 Most companies source some, or all, of their products or labor from foreign markets to sell in their home market and around the world. For U.S. companies, the most optimal situation is when the U.S. dollar strengthens versus the local currency of sourcing countries, making the cost of goods sold (COGS) cheaper. In a perverse way, Trump's tariffs benefit nontargeted industries and companies that rely on imported goods from those countries as a part of their cost of goods sold, provided steel and aluminum isn't a significant component of COGS . That's because the dollar should now buy more Mexican labor and raw materials. As the chart shows, the peso has significantly weakened in the last year,. pushing past the 20 peso level, a level rarely attained in the last decade. US Dollar to Mexican Peso Exchange Rate Chart US Dollar to Mexican Peso Exchange Rate data by YCharts . Note: Conventional presentation is Mexican pesos per $1, so higher figures mean peso devaluation. Constellation Brands is well situated With that in mind, perhaps there's no company better positioned for a decrease in the Mexican peso than Constellation Brands. First, the clear majority of its brewing operations and brands -- Modelo, Corona Extra, and Corona Light -- are from our neighbors to the south, and most of its sales are in the United States. For example, Corona Extra is the best-selling imported beer in the United States, and 97% of Constellation's total sales were in the United States last year. Story continues Therefore, a weaker peso affords Constellation options to better compete against its U.S-brewed peers. The company can leave its pricing unchanged and experience margin expansion and possible higher equity prices. It can lower prices in order to grow market share, spend on other nondirect expenses (like marketing) to increase brand awareness, or a combination of all of the above. There's already evidence this is occurring: In its fiscal 2018 earnings report, Constellation noted its beer operating margin increased by more than 3 percentage points to 39.5%, citing "foreign currency favorability" as a reason for the increase. Although Constellation is partially hedged for currency changes from both a balance sheet and transactional basis, a cheaper peso will allow the company to lock in more favorable hedges for longer. A lower peso can have longer-lasting effects as well A lower peso is more important than current transactions, however. Constellation continues to spend heavily to build out operations south of the border, having already spent $2.9 billion to increase its Mexican capacity to 31.5 million hectoliters, including a new glass production plant that should lower the production cost of glass over and above the currency savings. The current container mix for U.S. beverages are 70% glass and 27% aluminum, although it's likely now glass will take a larger role due to tariff avoidance and cheaper sourcing via the new glass plant. Additional plans are to further increase production by an additional 12.5 million hectoliters in the next five years. Not only is this becoming cheaper in U.S. dollars due to FX effects, but the new tax law makes a significant portion of capex immediately expensible, which lowers cost as well. Prudent corporate finance calls for Constellation to expedite its planned capital expenditures to take advantage of the dollar's strength. Trade wars on deck? Constellation Brands is in a delicate situation; although the company benefits from targeted tariffs and the threat of trade issues, like most companies it has a vested interest in targeted tariffs not devolving into full-fledged trade wars and embargoes. Most likely, share prices across the board will be heavily affected, however, not just for companies that source in Mexico. It's likely that the worst-case scenario for trade will not occur. However, in the interim, look for Constellation to take advantage of a cheaper peso to grow operating margins and profit in the short term while investing in the country via new plants and equipment to grow operating margins over the long term. More From The Motley Fool 3 Growth Stocks at Deep-Value Prices 5 Expected Social Security Changes in 2018 6 Years Later, 6 Charts That Show How Far Apple, Inc. Has Come Since Steve Jobs' Passing 10 Best Stocks to Buy Today The $16,122 Social Security Bonus You Cannot Afford to Miss Bitcoin's Biggest Competitor Isn't Ethereum -- It's This Jamal Carnette, CFA has no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy . \|\| Tech Stocks This Week: Etsy Soars, Tesla's Planned "Self-Driving" Features, and More: In a week when theS&P 500traded approximately flat, two notable tech stocks jumped and one soared. • Social networkTwitter(NYSE: TWTR)saw its stock rise more than 11% during the week as shares surged to a new three-year high. • Shares of electric-car companyTesla(NASDAQ: TSLA)added to gains earlier this month, rising 13% during the week. • Online marketplaceEtsy(NASDAQ: ETSY)skyrocketeda total of 28% during the week on news of the company's new fee structure. Here's a closer look at what's behind each of these companies' big moves in their stock prices. ^SPXdata byYCharts. Optimistic analyst commentary on Twitter stock earlier this week likely was one of the reasons for the stock's 11% gain during the week. "We are raising our estimates on TWTR shares as we believe advertising momentum is strengthening, particularly among large marketers," said JPMorgan analyst Doug Anmuth on Tuesday (viaCNBC). Anmuth cited improvements for users and marketers and strong growth in daily active users as reasons he's optimistic. The analyst raised his price target for the stock to $50. In Twitter'smost recent quarter, the company swung from a loss of $0.09 in the year-ago quarter to earnings per share of $0.08. On a non-GAAPbasis, earnings per share (EPS) improved from $0.07 in the year-ago quarter to $0.16. Revenue and daily active users increased 21% and 10%, respectively, year over year. Twitter has surged over the past year as the company proved it can reinvigorate user growth while cutting costs and improving its advertising products. Shares are up a total of 174% over the past 12 months. Electric-car company Tesla continued to rise this week for a number of reasons, includinglayoffs aimed to help the automaker achieve profitability, Tesla CEO Elon Musk'sopen-market purchases of $25 million worth of Tesla stock, and an overall bullish trend ever since Musk forecast earlier this month that Teslalikely will achieve its ambitious production and profitability targets. Model S. Image source: Author. But one of the most interesting announcements from Tesla this week was that the company is planning for some major updates for Autopilot. Tesla will release Autopilot version nine in August, Musk said on Twitter this week. Coming about two years after version eight was released, one of the updates included in version nine will be the first release of some features for its Autopilot tier called "full self-driving capability." "To date, Autopilot resources have rightly focused entirely on safety. With V9, we will begin to enable full self-driving features," Musk explained on Twitter. Another likely feature to be included in version eight will be assisted driving from highway on-ramp to highway off-ramp -- a capability Musk has saidshould be deployed within the next few months. Online marketplace Etsy took the market by surprise this week when it increased the fees it charges sellers from 3.5% of sales to 5% of sales. Incremental revenue generated from the higher fees will be reinvested into Etsy's business. "We plan to increase our 2017 direct marketing spend by at least 40% in 2018, revamp our Etsy community platforms, and execute against an exciting product roadmap," explained Etsy CFO Rachel Glaser. "We believe all of this will help drive near-term growth and increase buyer lifetime value." In addition to hiking its fees, the company also launched two new subscription tiers for sellers to get access to more tools, customer support, and services. More From The Motley Fool • 3 Growth Stocks at Deep-Value Prices • 5 Expected Social Security Changes in 2018 • 6 Years Later, 6 Charts That Show How Far Apple, Inc. Has Come Since Steve Jobs' Passing • 10 Best Stocks to Buy Today • The $16,122 Social Security Bonus You Cannot Afford to Miss • Bitcoin's Biggest Competitor Isn't Ethereum -- It's This Daniel Sparksowns shares of Tesla. The Motley Fool owns shares of and recommends Tesla and Twitter. The Motley Fool recommends Etsy. The Motley Fool has adisclosure policy. \|\| Tech Stocks This Week: Etsy Soars, Tesla's Planned "Self-Driving" Features, and More: In a week when the S&P 500 traded approximately flat, two notable tech stocks jumped and one soared. Social network Twitter (NYSE: TWTR) saw its stock rise more than 11% during the week as shares surged to a new three-year high. Shares of electric-car company Tesla (NASDAQ: TSLA) added to gains earlier this month, rising 13% during the week. Online marketplace Etsy (NASDAQ: ETSY) skyrocketed a total of 28% during the week on news of the company's new fee structure. Here's a closer look at what's behind each of these companies' big moves in their stock prices. ^SPX Chart ^SPX data by YCharts. Twitter gets a $50 price target Optimistic analyst commentary on Twitter stock earlier this week likely was one of the reasons for the stock's 11% gain during the week. "We are raising our estimates on TWTR shares as we believe advertising momentum is strengthening, particularly among large marketers," said JPMorgan analyst Doug Anmuth on Tuesday (via CNBC ). Anmuth cited improvements for users and marketers and strong growth in daily active users as reasons he's optimistic. The analyst raised his price target for the stock to $50. In Twitter's most recent quarter , the company swung from a loss of $0.09 in the year-ago quarter to earnings per share of $0.08. On a non- GAAP basis, earnings per share (EPS) improved from $0.07 in the year-ago quarter to $0.16. Revenue and daily active users increased 21% and 10%, respectively, year over year. Twitter has surged over the past year as the company proved it can reinvigorate user growth while cutting costs and improving its advertising products. Shares are up a total of 174% over the past 12 months. Tesla plans to enable some "self-driving" features this year Electric-car company Tesla continued to rise this week for a number of reasons, including layoffs aimed to help the automaker achieve profitability , Tesla CEO Elon Musk's open-market purchases of $25 million worth of Tesla stock , and an overall bullish trend ever since Musk forecast earlier this month that Tesla likely will achieve its ambitious production and profitability targets . Story continues Model S interior. Model S. Image source: Author. But one of the most interesting announcements from Tesla this week was that the company is planning for some major updates for Autopilot. Tesla will release Autopilot version nine in August, Musk said on Twitter this week. Coming about two years after version eight was released, one of the updates included in version nine will be the first release of some features for its Autopilot tier called "full self-driving capability." "To date, Autopilot resources have rightly focused entirely on safety. With V9, we will begin to enable full self-driving features," Musk explained on Twitter. Another likely feature to be included in version eight will be assisted driving from highway on-ramp to highway off-ramp -- a capability Musk has said should be deployed within the next few months . Investors love Etsy's new fee structure Online marketplace Etsy took the market by surprise this week when it increased the fees it charges sellers from 3.5% of sales to 5% of sales. Incremental revenue generated from the higher fees will be reinvested into Etsy's business. "We plan to increase our 2017 direct marketing spend by at least 40% in 2018, revamp our Etsy community platforms, and execute against an exciting product roadmap," explained Etsy CFO Rachel Glaser. "We believe all of this will help drive near-term growth and increase buyer lifetime value." In addition to hiking its fees, the company also launched two new subscription tiers for sellers to get access to more tools, customer support, and services. More From The Motley Fool 3 Growth Stocks at Deep-Value Prices 5 Expected Social Security Changes in 2018 6 Years Later, 6 Charts That Show How Far Apple, Inc. Has Come Since Steve Jobs' Passing 10 Best Stocks to Buy Today The $16,122 Social Security Bonus You Cannot Afford to Miss Bitcoin's Biggest Competitor Isn't Ethereum -- It's This Daniel Sparks owns shares of Tesla. The Motley Fool owns shares of and recommends Tesla and Twitter. The Motley Fool recommends Etsy. The Motley Fool has a disclosure policy . \|\| Better Buy: Philip Morris International, Inc. vs. British American Tobacco: When you look at theglobal tobacco industry,Philip Morris International(NYSE: PM)andBritish American Tobacco(NYSE: BTI)are among the most influential companies in the business. Philip Morris focuses exclusively on the international tobacco market, while British American Tobacco recently acquired U.S. tobacco giant Reynolds American to become a truly global player in tobacco. The pace of change in the tobacco industry is faster than ever, and both Philip Morris and BAT have had to pivot in order to avoid the many potential pitfalls involved in this business. With both stocks having seen weakness lately, some value investors smell opportunity but want to make sure they make the smarter pick between these two companies. With that in mind, here's a closer look at Philip Morris International and British American Tobacco that can shed some light on which one looks more promising. Image source: Philip Morris. Both Philip Morris and BAT have posted huge losses for shareholders lately. Since June 2017, Philip Morris stock is down 33%, and BAT's 29% drop is only a little bit less extreme. Comparing the two tobacco stocks based on valuation is a little challenging right now, largely because of one-time elements that have distorted trailing earnings recently. For instance, Philip Morris has a trailing multiple of more than 22 right now, but its forward multiple is more reasonable at 16. Meanwhile, BAT's trailing multiple is ridiculously low at just two times earnings due to a huge one-time earnings boost, but again a forward multiple of 13 is more realistic. Based on slightly better stock performance and a cheaper valuation based on future earnings projections, British American gets the nod here. Both Philip Morris International and British American Tobacco have been generous with shareholders in making dividend payments. Philip Morris wins on the current yield front with a 5.3% dividend yield, but BAT's 4.7% figure isn't too far behind. Both of the tobacco giants have also seen some pressure on dividends lately, although shareholders have still benefited to a large extent. For Philip Morris, what had been double-digit percentage dividend growth year after year has suddenly slowed dramatically, with the company making relatively small increases over the past few years. BAT, meanwhile, has adopted a quarterly dividend schedule, which is fairly unusual for U.K.-based companies that typically prefer unequal semi-annual payments. BAT's payments in dollar terms have also dipped in recent years, largely reflecting the Reynolds American purchase as well as the plunge in the British pound due to the Brexit decision. For now, Philip Morris' higher yield and more reliable growth gives it an advantage on the dividend front. Big Tobacco is going through huge shifts, and Philip Morris and BAT have both had to respond aggressively. For Philip Morris, moving beyond traditional cigarettes has become a long-term strategic goal, and the company sees alternative reduced-risk products like its iQOS heated tobacco system to be instrumental to its long-term success. Yet after an extremely promising start, iQOS sales were unexpectedly weak during the first quarter, and that prompted aplunge in the share pricefollowing the announcement. Moreover, Philip Morris has hoped to gain approval from the U.S. Food and Drug Administration to sell iQOS in the U.S. through its distribution partner, but thus far, the regulator hasn't been forthcoming in granting its permission. Add to that an ongoing decline in regular cigarette consumption and an increasingly hostile regulatory environment worldwide, and it's easy to see why Philip Morris has faced such difficulties lately. British American has had to deal with challenges of its own. Earlier this year, the company had torecall its Vibe electronic cigarettes, as several users reported battery overheating problems that the company judged could result in the risk of fire. The recall involved 2.6 million units, further harming BAT's competitive status in the e-cigarette arena in the U.S. market as competitors like JUUL Labs have built up a commanding presence domestically. More broadly, BAT has seen growth from its takeover of Reynolds American, but it's also dealing with the challenges of a broader secular decline in cigarette demand throughout many regions of the world market. At this point, neither Philip Morris nor BAT looks like a sure thing for investors. Philip Morris needs to get iQOS back on track, while BAT would benefit from broader alternative growth trends more generally. That'll take some doing, and until that happens, investors are smarter watching both of these stocks from the sidelines. More From The Motley Fool • 3 Growth Stocks at Deep-Value Prices • 5 Expected Social Security Changes in 2018 • 6 Years Later, 6 Charts That Show How Far Apple, Inc. Has Come Since Steve Jobs' Passing • 10 Best Stocks to Buy Today • The $16,122 Social Security Bonus You Cannot Afford to Miss • Bitcoin's Biggest Competitor Isn't Ethereum -- It's This Dan Caplingerhas no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has adisclosure policy. \|\| Better Buy: Philip Morris International, Inc. vs. British American Tobacco: When you look at the global tobacco industry , Philip Morris International (NYSE: PM) and British American Tobacco (NYSE: BTI) are among the most influential companies in the business. Philip Morris focuses exclusively on the international tobacco market, while British American Tobacco recently acquired U.S. tobacco giant Reynolds American to become a truly global player in tobacco. The pace of change in the tobacco industry is faster than ever, and both Philip Morris and BAT have had to pivot in order to avoid the many potential pitfalls involved in this business. With both stocks having seen weakness lately, some value investors smell opportunity but want to make sure they make the smarter pick between these two companies. With that in mind, here's a closer look at Philip Morris International and British American Tobacco that can shed some light on which one looks more promising. Two hands holding an iQOS device over a white table. Image source: Philip Morris. Valuation and stock performance Both Philip Morris and BAT have posted huge losses for shareholders lately. Since June 2017, Philip Morris stock is down 33%, and BAT's 29% drop is only a little bit less extreme. Comparing the two tobacco stocks based on valuation is a little challenging right now, largely because of one-time elements that have distorted trailing earnings recently. For instance, Philip Morris has a trailing multiple of more than 22 right now, but its forward multiple is more reasonable at 16. Meanwhile, BAT's trailing multiple is ridiculously low at just two times earnings due to a huge one-time earnings boost, but again a forward multiple of 13 is more realistic. Based on slightly better stock performance and a cheaper valuation based on future earnings projections, British American gets the nod here. Dividends Both Philip Morris International and British American Tobacco have been generous with shareholders in making dividend payments. Philip Morris wins on the current yield front with a 5.3% dividend yield, but BAT's 4.7% figure isn't too far behind. Story continues Both of the tobacco giants have also seen some pressure on dividends lately, although shareholders have still benefited to a large extent. For Philip Morris, what had been double-digit percentage dividend growth year after year has suddenly slowed dramatically, with the company making relatively small increases over the past few years. BAT, meanwhile, has adopted a quarterly dividend schedule, which is fairly unusual for U.K.-based companies that typically prefer unequal semi-annual payments. BAT's payments in dollar terms have also dipped in recent years, largely reflecting the Reynolds American purchase as well as the plunge in the British pound due to the Brexit decision. For now, Philip Morris' higher yield and more reliable growth gives it an advantage on the dividend front. Growth prospects and risks Big Tobacco is going through huge shifts, and Philip Morris and BAT have both had to respond aggressively. For Philip Morris, moving beyond traditional cigarettes has become a long-term strategic goal, and the company sees alternative reduced-risk products like its iQOS heated tobacco system to be instrumental to its long-term success. Yet after an extremely promising start, iQOS sales were unexpectedly weak during the first quarter, and that prompted a plunge in the share price following the announcement. Moreover, Philip Morris has hoped to gain approval from the U.S. Food and Drug Administration to sell iQOS in the U.S. through its distribution partner, but thus far, the regulator hasn't been forthcoming in granting its permission. Add to that an ongoing decline in regular cigarette consumption and an increasingly hostile regulatory environment worldwide, and it's easy to see why Philip Morris has faced such difficulties lately. British American has had to deal with challenges of its own. Earlier this year, the company had to recall its Vibe electronic cigarettes , as several users reported battery overheating problems that the company judged could result in the risk of fire. The recall involved 2.6 million units, further harming BAT's competitive status in the e-cigarette arena in the U.S. market as competitors like JUUL Labs have built up a commanding presence domestically. More broadly, BAT has seen growth from its takeover of Reynolds American, but it's also dealing with the challenges of a broader secular decline in cigarette demand throughout many regions of the world market. Giving it a pass At this point, neither Philip Morris nor BAT looks like a sure thing for investors. Philip Morris needs to get iQOS back on track, while BAT would benefit from broader alternative growth trends more generally. That'll take some doing, and until that happens, investors are smarter watching both of these stocks from the sidelines. More From The Motley Fool 3 Growth Stocks at Deep-Value Prices 5 Expected Social Security Changes in 2018 6 Years Later, 6 Charts That Show How Far Apple, Inc. Has Come Since Steve Jobs' Passing 10 Best Stocks to Buy Today The $16,122 Social Security Bonus You Cannot Afford to Miss Bitcoin's Biggest Competitor Isn't Ethereum -- It's This Dan Caplinger has no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy . [Social Media Buzz] 取得日時：2018/06/18 00:00:09 NANJファンのみんな、今日も1日が始まったで今のNANJ（NANJ/BTC）や！【COINEXCANGE】価格：0.00000019 BTC［19sat］取引量（24hr）：14.5191 BTC 【MERCATOX】価格：0.00000021 BTC［21sat］取引量（24hr）：0.0038 BTC 今日も1日がんばるで！ \|\| Jun 17, 2018 06:00:00 UTC \| 6,509.90$ \| 5,602.20€ \| 4,901.00£ \| #Bitcoin #btc pic.twitter.com/KjeeORgeMU \|\| 2018-06-18_00-00-47 Forecast #BTC $BTC #Bitflyerpic.twitter.com/BanOTKXTYZ \|\| Último: R$ 25.554,00 ▲ Alta: R$ 25.800,00 ▼ Baixa: R$ 25.291,00 ▼ Volume: 23.43981971 BTC ▲ Taxa 30min: 6...	6734.82, 6769.94, 6776.55, 6729.74, 6083.69, 6162.48, 6173.23, 6249.18, 6093.67, 6157.13
Given the historical Bitcoin prices from the last 90 days, predict the next 10 daily closing prices. The historical prices are: 5982.46, 6174.53, 6378.85, 7204.77, 6972.37, 7814.92, 7994.42, 8205.17, 7884.91, 7343.90, 7271.21, 8197.69, 7978.31, 7963.33, 7680.07, 7881.85, 7987.37, 8052.54, 8673.22, 8805.78, 8719.96, 8659.49, 8319.47, 8574.50, 8564.02, 8742.96, 8209.00, 7707.77, 7824.23, 7822.02, 8043.95, 7954.13, 7688.08, 8000.33, 7927.71, 8145.86, 8230.92, 8693.83, 8838.38, 8994.49, 9320.35, 9081.76, 9273.52, 9527.16, 10144.56, 10701.69, 10855.37, 11011.10, 11790.92, 13016.23, 11182.81, 12407.33, 11959.37, 10817.16, 10583.13, 10801.68, 11961.27, 11215.44, 10978.46, 11208.55, 11450.85, 12285.96, 12573.81, 12156.51, 11358.66, 11815.99, 11392.38, 10256.06, 10895.09, 9477.64, 9693.80, 10666.48, 10530.73, 10767.14, 10599.11, 10343.11, 9900.77, 9811.93, 9911.84, 9870.30, 9477.68, 9552.86, 9519.15, 9607.42, 10085.63, 10399.67, 10518.17, 10821.73, 10970.18, 11805.65.	[Bitcoin Technical Analysis for 2019-08-05] Volume: 23875988832, RSI (14-day): 64.45, 50-day EMA: 10180.17, 200-day EMA: 7784.89 [Wider Market Context] Gold Price: 1464.60, Gold RSI: 74.10 Oil Price: 54.69, Oil RSI: 42.78 [Recent News (last 7 days)] Land on the blockchain: How countries are solving ownership disputes using DLT: The World Bank estimates that fewer than 30 percent of the world’s population has the official title to their land. In Zambia, for instance, getting the deed for your home could change your life. The value of your house increases tenfold, and you become eligible for government welfare services and bank loans. But the process is expensive, laborious, and occasionally corrupt. There are more than 500,000 land records in the Zambian land administration, but only 176,000 of these records are complete. And, with the government issuing an average of just seven thousand land titles a year for the past decade, it’d take the government dozens of years to get its act straight. That all changed when the government started experimenting with registering land titles on blockchain in late 2018. Medici Land Governance, a public benefit corporation who’s partnered with the Zambian government, was able to collect full property records for 56,000 title holders in under three months, smashing the 7,000 a year average. And unlike conventional deeds, new deeds issued via blockchain are tamperproof, meaning they can’t be edited or altered. Zambia isn’t alone inexperimentingwith blockchain technology as a means to record real estate titles and deeds: governments and NGOs all over the world are resolving ownership disputes by uploading land registry titles onto blockchains, making it easier for citizens to keep track of who owns what, and giving them improved control over their assets. Developed countries are leading the charge.The Georgian government’sland-registry systemhopes to make it possible to buy a house in ten seconds, rather than a couple of months, and theBritish government hascreated a systemto automate land-registry titles and improve the transparency of data. Buying a home via blockchain Success in developed countries could make an even bigger impact in the developing world, where land rights are manipulated, often to make way for construction projects, such as dams or gold mines. “People can be killed,” saysKarol Boudreaux, Chief Program Officer at Landesa, a non-profit that works with governments to secure land rights. Blockchain would make it easier to prove ownership, which could counteract much of the violent displacement that occurs when land titles go missing. Decryptspoke to governments, lawyers and NGO leaders, to find out whether blockchain could help secure land rights. And we found that, in conjunction with other emerging technologies, blockchain is already making a huge difference. Traditionally, NGOs helped governments with updated computer software, such asGIS mappingsystems. But costly government services in many countries means that land titles are corrupt, and a lack of professionally certified surveyors means that land parcels aren’t demarcated properly. Without the right land title, “you’re more likely to be forcibly evicted, and less likely to be properly compensated. This lack of property documentation and recognition of rights drives violent conflict all around the world. It’s critically important,” Boudreaux tellsDecrypt. “There are still digital divides, which can be particularly challenging for women,” Boudreaux added. “Women may or may not be listed as spouses of partners on land documents. Even if land documents exist, they are often out of date.” Bottom up, crowd-sourced solutions, such as the use of community surveyors, means that locals share cell phone GPS locations, and community information about properties, to build a case that someone has a claim to a parcel of land, and share the evidence with governments. If such ownership is validated by the government, someone could apply to a bank for credit, or get access to government resources, like healthcare, or subsidies. For Boudreaux, blockchain could provide an alternative system of rights outside of the formalized government sector, and reduce the cumbersome process of formally selling or transferring properties on the record. That’s exactly what happened in The Republic of Georgia, which built the most advanced and successful blockchain system in the world. The Republic of Georgia, beset by corruption from its days under Soviet rule, had a lot of catching up to do when the Soviet Union collapsed. Private property was banned under communist rule, so, when it came to privatising land, the government was tasked with compiling millions of documents, scattered across different agencies. Alongside a series of reforms, which sought to curb corruption and bureaucracy, President Mikheil Saakashvili set up the National Agency of the Public Registry (NAPR) in 2004 to streamline the land registry process. Now, 30 years later, Georgia has one of the most efficient land titling systems in the world—ranked third best by the World Bank. That’s all helped by blockchain. Their blockchain-based land titling system, developed in collaboration with the Bitfury Group, NAPR, and the Blockchain Trust Accelerator, started in April 2016. A year later, their blockchain system stores more than 2 million extracts about land titles on the public Bitcoin blockchain. Go ahead, look up your Georgian mansion on theirreal estate registry. Land titles have the address, name, and mortgage status of property owners, and transactions are recorded, with time stamps, on the public blockchain. Download the land deed and NAPR generates a hash code, a combinations of 64 digits and letters. Enter the hashcode in theblockchainwebpage, and you can verify the validity of the document. While NAPR generate the hashcodes, they’re sent to Bitfury group, who store the hashcodes in their blockchain system. “We have not paid for these two million transactions, it’s all Bitfury’s kind assistance,” Mariam Turashvili, project manager of the NAPR’s blockchain program, says. Should the Bitfury money well runs dry? “We will find a way,” says Turashvili. “We might even think about creating our private blockchain,” Turashvili adds. First, blockchain means that land titles are decentralized, rather than held on physical, central servers. “It’s been ten years since our last war with Russia, so we need the physical security of the servers, and blockchain protects us from that,” she says. “It’s not only war; it’s also fires. A lot of archives have been burned. Why not keep [data] more secure?” Second, though Turashvili says the NAPR handled most of Georgia’s corruption, blockchain gives citizens the assurance that their land titles are secure. “A land title is stored on blockchain, and no-one will be able to change it, to delete or alter it, or use the law to manipulate it. Even employees have access to the system, but everything is stored on blockchain, so [citizens] are sure that nothing is going to happen to their ownership right, that it will be protected.” Privacy concerns? “We don’t save any documents in the blockchain, just the hash code. Even if we did, our legislation says that everything related to property is public.” In the next phases of the program, Turashvili says that trust contracts will cut the registration fees from a few days to two hours. After legal details are finalized, Turashvili says the NAPR plans to roll out this program in about a month. If the trust contracts are successful, Turashvili and her team will start work on smart contracts. Then, says Turashvili, transferring property titles will “take just minutes”. The Bitfury and Republic of Georgia initiative is just one of several collaborations aimed at creating blockchain-based land-titling services. Bitfury’s John Mercurio says they’re in “discussions around the world with various governments and municipalities,” and recently released ademoshowcasing its efforts in Amsterdam. In the U.K., the government’s land registry is testing out blockchain technology to make it easier to buy and sell homes. Its proof of concept uses smart contracts, which, as Senior Product Manager Lauren Tombs says,“enables the automation of some of the manual aspects undertaken by conveyancers that can sometimes slow down simple transactions.” It started building up a “Digital Street Community” of people from conveyancers, estate agents, mortgage lenders, PropTech start-ups, homebuyers and sellers across the property market, getting their input on how blockchain could be used to make buying and selling houses less painful. “Using blockchain can lead to faster, more secure transactions, with greater trust and transparency,” said Tombs. The government’s idea came to life when, in March of this year, it showed how smart contracts could have facilitated the sale and transfer of a semi-detached house in Gillingham. When the seller, Stefan, sold his house to the buyer, Peter, without using blockchain technology, the process took 22 weeks. The team behind Digital Street sat Stefan and Peter down and showed them how, if they had used Digital Street’s blockchain technology, the process of signing contracts would have only taken under ten minutes. Each party in the transaction runs their own “node,” giving them “full visibility of the transaction, the business logic and provides the ability to verify that data is valid and check its history,” says Tombs. “By using blockchain technology, each party was able to see a current view of the transaction, any historical actions that had been taken, and actions that still need to take place before the transaction was complete,” Tombs said. Though the demonstration didn’t actually help Stefan or Peter in any way, the government is using the case study as a success story, proof that future land titles could be done via blockchain. But Katherine Lang, a senior lawyer at international law firm Taylor Wessing, said that “legally, it’s not actually possible at the moment to transfer property using a smart contract.” You need to transfer property in writing by deed, and an electronic signature doesn’t pass muster. The outcome of anongoing government report on electronic signaturescould result in policy changes, but at least for now, “It’s not legal”. Nor is using smart contracts necessarily quicker, says Lang, “because you still have to do your due diligence.” Though smart contracts speed up the process of signing deeds–from one day to ten minutes– Local authority searches, insurance investigations, the surveyor who notices damp in the walls all take time, and “none of that can be replaced by technology.” — but not the 22 weeks. Yet Lang still praises the U.K. for its initiative. Britain’s tech scene dominates its European rivals, and adding blockchain to its ancient legal tradition encourages other countries to innovate in their legal sectors. Developing countries have already taken inspiration, says Medici Land Governance’s CEO, Ali El Husseini, said in an interview.His organization helps governments in Zambia, Rwanda, Liberia, Tulu, Mexico and in poorer parts of the U.S. put land titles on the blockchain. “People want those titles,” El Husseini says. So much so, that when invited 200 people to hear him speak in Zambia last October, 5,000 showed up, including the country’s Minister for Justice. El Husseini says they hope to expand the process. By 2020, the goal is for every eligible resident in Zambia’s capital, Lusaka, to have a blockchain-based land title; if it’s successful, the program will be rolled out nationwide. By providing title deeds, El Husseini says that the government can provide services they previously avoided, claiming the land was home to squatters. “It goes a long way,” says ElHusseini. \|\| Land on the blockchain: How countries are solving ownership disputes using DLT: The World Bank estimates that fewer than 30 percent of the world’s population has the official title to their land. In Zambia, for instance, getting the deed for your home could change your life. The value of your house increases tenfold, and you become eligible for government welfare services and bank loans. But the process is expensive, laborious, and occasionally corrupt. There are more than 500,000 land records in the Zambian land administration, but only 176,000 of these records are complete. And, with the government issuing an average of just seven thousand land titles a year for the past decade, it’d take the government dozens of years to get its act straight. That all changed when the government started experimenting with registering land titles on blockchain in late 2018. Medici Land Governance, a public benefit corporation who’s partnered with the Zambian government, was able to collect full property records for 56,000 title holders in under three months, smashing the 7,000 a year average. And unlike conventional deeds, new deeds issued via blockchain are tamperproof, meaning they can’t be edited or altered. A better way Zambia isn’t alone in experimenting with blockchain technology as a means to record real estate titles and deeds: governments and NGOs all over the world are resolving ownership disputes by uploading land registry titles onto blockchains, making it easier for citizens to keep track of who owns what, and giving them improved control over their assets. Developed countries are leading the charge. The Georgian government’s land-registry system hopes to make it possible to buy a house in ten seconds, rather than a couple of months, and the British government has created a system to automate land-registry titles and improve the transparency of data. Buying a home via blockchain Success in developed countries could make an even bigger impact in the developing world, where land rights are manipulated, often to make way for construction projects, such as dams or gold mines. “People can be killed,” says Karol Boudreaux , Chief Program Officer at Landesa, a non-profit that works with governments to secure land rights. Story continues Blockchain would make it easier to prove ownership, which could counteract much of the violent displacement that occurs when land titles go missing. Decrypt spoke to governments, lawyers and NGO leaders, to find out whether blockchain could help secure land rights. And we found that, in conjunction with other emerging technologies, blockchain is already making a huge difference. Mapping the problem Traditionally, NGOs helped governments with updated computer software, such as GIS mapping systems. But costly government services in many countries means that land titles are corrupt, and a lack of professionally certified surveyors means that land parcels aren’t demarcated properly. Without the right land title, “you’re more likely to be forcibly evicted, and less likely to be properly compensated. This lack of property documentation and recognition of rights drives violent conflict all around the world. It’s critically important,” Boudreaux tells Decrypt . “There are still digital divides, which can be particularly challenging for women,” Boudreaux added . “Women may or may not be listed as spouses of partners on land documents. Even if land documents exist, they are often out of date . ” Bottom up, crowd-sourced solutions, such as the use of community surveyors, means that locals share cell phone GPS locations, and community information about properties, to build a case that someone has a claim to a parcel of land, and share the evidence with governments. If such ownership is validated by the government, someone could apply to a bank for credit, or get access to government resources, like healthcare, or subsidies. For Boudreaux, blockchain could provide an alternative system of rights outside of the formalized government sector, and reduce the cumbersome process of formally selling or transferring properties on the record. That’s exactly what happened in The Republic of Georgia, which built the most advanced and successful blockchain system in the world. The Blockchain Republic The Republic of Georgia, beset by corruption from its days under Soviet rule, had a lot of catching up to do when the Soviet Union collapsed. Private property was banned under communist rule, so, when it came to privatising land, the government was tasked with compiling millions of documents, scattered across different agencies. Alongside a series of reforms, which sought to curb corruption and bureaucracy, President Mikheil Saakashvili set up the National Agency of the Public Registry (NAPR) in 2004 to streamline the land registry process. Now, 30 years later, Georgia has one of the most efficient land titling systems in the world—ranked third best by the World Bank. That’s all helped by blockchain. Their blockchain-based land titling system, developed in collaboration with the Bitfury Group, NAPR, and the Blockchain Trust Accelerator, started in April 2016. A year later, their blockchain system stores more than 2 million extracts about land titles on the public Bitcoin blockchain. Go ahead, look up your Georgian mansion on their real estate registry . Land titles have the address, name, and mortgage status of property owners, and transactions are recorded, with time stamps, on the public blockchain. Download the land deed and NAPR generates a hash code, a combinations of 64 digits and letters. Enter the hashcode in the blockchain webpage, and you can verify the validity of the document. While NAPR generate the hashcodes, they’re sent to Bitfury group, who store the hashcodes in their blockchain system. “We have not paid for these two million transactions, it’s all Bitfury’s kind assistance,” Mariam Turashvili, project manager of the NAPR’s blockchain program, says. Should the Bitfury money well runs dry? “We will find a way,” says Turashvili. “We might even think about creating our private blockchain,” Turashvili adds. How the program works First, blockchain means that land titles are decentralized, rather than held on physical, central servers. “It’s been ten years since our last war with Russia, so we need the physical security of the servers, and blockchain protects us from that,” she says. “It’s not only war; it’s also fires. A lot of archives have been burned. Why not keep [data] more secure?” Second, though Turashvili says the NAPR handled most of Georgia’s corruption, blockchain gives citizens the assurance that their land titles are secure. “A land title is stored on blockchain, and no-one will be able to change it, to delete or alter it, or use the law to manipulate it. Even employees have access to the system, but everything is stored on blockchain, so [citizens] are sure that nothing is going to happen to their ownership right, that it will be protected.” Privacy concerns? “We don’t save any documents in the blockchain, just the hash code. Even if we did, our legislation says that everything related to property is public.” In the next phases of the program, Turashvili says that trust contracts will cut the registration fees from a few days to two hours. After legal details are finalized, Turashvili says the NAPR plans to roll out this program in about a month. If the trust contracts are successful, Turashvili and her team will start work on smart contracts. Then, says Turashvili, transferring property titles will “take just minutes”. How to get to Digital Street The Bitfury and Republic of Georgia initiative is just one of several collaborations aimed at creating blockchain-based land-titling services. Bitfury’s John Mercurio says they’re in “discussions around the world with various governments and municipalities,” and recently released a demo showcasing its efforts in Amsterdam. In the U.K., the government’s land registry is testing out blockchain technology to make it easier to buy and sell homes. Its proof of concept uses smart contracts, which, as Senior Product Manager Lauren Tombs says , “enables the automation of some of the manual aspects undertaken by conveyancers that can sometimes slow down simple transactions.” It started building up a “Digital Street Community” of people from conveyancers, estate agents, mortgage lenders, PropTech start-ups, homebuyers and sellers across the property market, getting their input on how blockchain could be used to make buying and selling houses less painful. “Using blockchain can lead to faster, more secure transactions, with greater trust and transparency,” said Tombs. The government’s idea came to life when, in March of this year, it showed how smart contracts could have facilitated the sale and transfer of a semi-detached house in Gillingham. When the seller, Stefan, sold his house to the buyer, Peter, without using blockchain technology, the process took 22 weeks. The team behind Digital Street sat Stefan and Peter down and showed them how, if they had used Digital Street’s blockchain technology, the process of signing contracts would have only taken under ten minutes. Each party in the transaction runs their own “node,” giving them “full visibility of the transaction, the business logic and provides the ability to verify that data is valid and check its history,” says Tombs. “By using blockchain technology, each party was able to see a current view of the transaction, any historical actions that had been taken, and actions that still need to take place before the transaction was complete,” Tombs said . Though the demonstration didn’t actually help Stefan or Peter in any way, the government is using the case study as a success story, proof that future land titles could be done via blockchain. But Katherine Lang, a senior lawyer at international law firm Taylor Wessing, said that “legally, it’s not actually possible at the moment to transfer property using a smart contract.” You need to transfer property in writing by deed, and an electronic signature doesn’t pass muster. The outcome of an ongoing government report on electronic signatures could result in policy changes, but at least for now, “It’s not legal”. Nor is using smart contracts necessarily quicker, says Lang, “because you still have to do your due diligence.” Though smart contracts speed up the process of signing deeds–from one day to ten minutes– Local authority searches, insurance investigations, the surveyor who notices damp in the walls all take time, and “none of that can be replaced by technology.” — but not the 22 weeks. Yet Lang still praises the U.K. for its initiative. Britain’s tech scene dominates its European rivals, and adding blockchain to its ancient legal tradition encourages other countries to innovate in their legal sectors. Developing the world Developing countries have already taken inspiration, says Medici Land Governance’s CEO, Ali El Husseini, said in an interview . His organization helps governments in Zambia, Rwanda, Liberia, Tulu, Mexico and in poorer parts of the U.S. put land titles on the blockchain. “People want those titles,” El Husseini says . So much so, that when invited 200 people to hear him speak in Zambia last October, 5,000 showed up, including the country’s Minister for Justice. El Husseini says they hope to expand the process. By 2020, the goal is for every eligible resident in Zambia’s capital, Lusaka, to have a blockchain-based land title; if it’s successful, the program will be rolled out nationwide. By providing title deeds, El Husseini says that the government can provide services they previously avoided, claiming the land was home to squatters. “It goes a long way,” says El Husseini. \|\| The Week Ahead: Brexit, Central Banks, Trade and Stats in Focus: On the Macro For the Dollar: It’s a relatively quiet week ahead on the economic calendar , following a particularly busy week last week. The market’s preferred ISM non-manufacturing PMI numbers for July gets the week going on Monday. Barring any material deviations, finalized the Markit’s service sector PMI will likely be ignored. June JOLTs job opening and weekly jobless claims figures due out on Tuesday and Thursday respectively will also provide direction. Wholesale inflation figures due out on Friday will also influence, as the markets look for softer inflationary pressures to support further FED rate cuts. Outside of the numbers, expect geopolitics to continue to drive the majors. The markets will need to continue to monitor trade war chatter, Iran, and Brexit. The Dollar Spot Index ended the week up by 0.09% to $98.096. For the EUR : It’s a relatively busy week ahead on the economic data front. Spanish and Italian service sector PMI numbers for July get the week going on Monday. Barring any major deviations, France and Germany’s finalized numbers will likely have a muted impact on the EUR. With the Eurozone’s manufacturing sector in contraction, the service PMIs will need to be in line with or better than forecast. We can expect the Eurozone’s service sector PMI and composite to also influence. Through the rest of the week, Germany’s factory orders (Tues), industrial production (Wed) and trade data (Fri) will also provide direction. Outside of the stats, the ECB will release its economic bulletin on Thursday. With stats on the lighter side, we can expect the EUR to be sensitive to the content. The EUR/USD ended the week down by 0.18% to $1.1108 For the Pound: It’s a particularly busy week ahead on the economic calendar . July’s service sector PMI will provide direction at the start of the week, as will July’s BRC retail sales monitor due out on Tuesday. The markets will then shift focus to 2 nd quarter GDP and manufacturing production numbers due on Thursday. Story continues Of less influence on the day will be 2 nd quarter business investment, trade, and industrial production numbers. We also expect house price data due out on Wednesday and Thursday to also be brushed aside. Outside of the numbers, any Brexit chatter will need close monitoring, with Brexit continuing to be the key driver near-term The GBP/USD ended the week down 1.79% at $1.2162. For the Loonie: It’s a relatively quiet week ahead on the data front. July’s Ivey PMI due out on Wednesday and employment figures due out on Friday will provide direction in the week. We expect housing sector numbers due out on Thursday and Friday to have a muted impact on the Loonie. Outside of the stats, the IEA’s monthly report and sentiment towards the U.S – China trade war will also influence. The Loonie ended the week down 0.31% to C$1.3207 against the U.S Dollar. Out of Asia For the Aussie Dollar: It’s a relatively quiet but influential week ahead. Economic data is limited June trade figures due out on Tuesday and June home loan numbers due out on Wednesday. Trade data will provide direction on the data front. Of greater significance will be the RBA’s interest rate decision and rate statement on Tuesday. In the wake of the FED’s rate cut, the RBA is expected to keep rates steady at 1%. The big question will be on whether there is any hint of a rate cut in the months ahead. The RBA is also scheduled to release its monetary policy statement on Friday. With a lack of stats, we can expect the Aussie Dollar to be responsive on the day. From elsewhere, China’s July service sector PMI and trade data to also impact in the week. On the geopolitical front, the U.S – China trade war will continue to influence. The Aussie Dollar ended the week down by 1.59% to $0.6801. For the Japanese Yen: It’s another relatively busy week ahead on the economic calendar . July service sector PMI gets the week going on Monday. As the manufacturing sector activity continues to struggle, service sector numbers will need to provide support. Household spending numbers due out on Tuesday will also be key ahead of 2 nd quarter GDP numbers due out on Friday. We expect current account data, due out on Thursday, to have a muted impact on sentiment towards BoJ monetary policy. Outside of the numbers, expect chatter on trade from the U.S and Beijing to remain the key driver. The Japanese Yen ended the week up 1.92% to ¥106.59 against the U.S Dollar. For the Kiwi Dollar: It’s a busy week ahead. Key stats include 2 nd quarter employment and inflation figures due out on Tuesday will have a material impact on the Kiwi. The main event, however, is the RBNZ interest rate decision on Wednesday. The RBNZ is expected to cut rates to 1.25% this week. With the rate cut priced in, it’s all about the forward guidance. Will the rate statement and press conference signal further action ahead or will it be a hold through to next year? Outside of the numbers, we expect the Kiwi Dollar to continue to be sensitive to geopolitical risk. Risk aversion and a dovish RBNZ rate cut would see the Kiwi Dollar visit $0.64 levels, last visited in June. The Kiwi Dollar ended the week down 1.51% to $0.6536. Out of China: It’s a relatively busy week ahead on the economic data front. July service sector PMI figures will influence market risk appetite ahead of July trade data due out on Thursday. Of less influence in the week are July inflation figures that are due out on Friday. Outside of the stats, updates from the U.S – China trade talks will also continue to drive the markets. Following Trump’s latest threat of fresh tariffs, China’s response and any U.S reaction will need consideration. The Hang Seng slid by 5.21% in the week, with the CSI300 ending the week down by 2.88%. Geo-Politics Trade Wars : No further face to face meetings are expected until next month. That leaves Trump’s Twitter account and Beijing to influence in the week ahead. Judging by Trump’s tweets from last week, there’s a long way to go before any resolution. That’s not good for anyone, particularly a U.S president in search of a 2 nd term in office… UK Politics : It’s all about Brexit as new British Prime Minister Boris Johnson looks to set his mark. The British PM issued an ultimatum to the EU early on, stating that there would be no discussions until the Irish backstop is removed. Unsurprisingly, there have been no talks as the EU continues to stand its ground. Expect more chatter in the week ahead… Iran : No news may be good news for now, but with the U.S in a trade war with China and withdrawing from a nuclear agreement with Russia, things could get messy… The Rest The RBA: While the RBA is expected to leave rates unchanged on Tuesday, the RBA rate statement will be key. Any hint of further rate cuts and expect the Aussie Dollar to take a tumble, particularly after the FED’s hawkish rate cut last week. The RBNZ: The RBNZ is expected to cut rates on Wednesday. With a 25 basis point cut priced in, will the RBNZ signal further cuts on the horizon or signal a near-term end to the easing cycle. With the U.S – China trade war showing no signs of an end, it’s hard to foresee a hawkish cut. Earnings: It’s another big week ahead… Earnings releases and outlooks will not just influence the U.S majors, but risk appetite across the global financial markets. Corporate America: Tuesday, 6 th August Walt Disney Co. Corporate Germany Monday, 5 th August Continental AG Wednesday, 7 th August Commerzbank AG Wirecard AG Thursday, 8 th August ThyssenKrupp AG This article was originally posted on FX Empire More From FXEMPIRE: Oil Price Fundamental Weekly Forecast – Weak Dollar Could Be Supportive Natural Gas Price Prediction – Prices Drop to 3-year Low Commodity-Linked Aussie, Kiwi Tumble as Money Flows into Safe-Haven Yen U.S Mortgage Rates – Hold Steady But Could Be in for a Slide Bitcoin Cash – ABC, Litecoin and Ripple Daily Analysis – 04/08/19 Bitcoin Cash – ABC, Litecoin and Ripple Daily Analysis – 03/08/19 \|\| The Week Ahead: Brexit, Central Banks, Trade and Stats in Focus: On the Macro For the Dollar: It’s a relatively quiet week ahead on the economic calendar , following a particularly busy week last week. The market’s preferred ISM non-manufacturing PMI numbers for July gets the week going on Monday. Barring any material deviations, finalized the Markit’s service sector PMI will likely be ignored. June JOLTs job opening and weekly jobless claims figures due out on Tuesday and Thursday respectively will also provide direction. Wholesale inflation figures due out on Friday will also influence, as the markets look for softer inflationary pressures to support further FED rate cuts. Outside of the numbers, expect geopolitics to continue to drive the majors. The markets will need to continue to monitor trade war chatter, Iran, and Brexit. The Dollar Spot Index ended the week up by 0.09% to $98.096. For the EUR : It’s a relatively busy week ahead on the economic data front. Spanish and Italian service sector PMI numbers for July get the week going on Monday. Barring any major deviations, France and Germany’s finalized numbers will likely have a muted impact on the EUR. With the Eurozone’s manufacturing sector in contraction, the service PMIs will need to be in line with or better than forecast. We can expect the Eurozone’s service sector PMI and composite to also influence. Through the rest of the week, Germany’s factory orders (Tues), industrial production (Wed) and trade data (Fri) will also provide direction. Outside of the stats, the ECB will release its economic bulletin on Thursday. With stats on the lighter side, we can expect the EUR to be sensitive to the content. The EUR/USD ended the week down by 0.18% to $1.1108 For the Pound: It’s a particularly busy week ahead on the economic calendar . July’s service sector PMI will provide direction at the start of the week, as will July’s BRC retail sales monitor due out on Tuesday. The markets will then shift focus to 2 nd quarter GDP and manufacturing production numbers due on Thursday. Story continues Of less influence on the day will be 2 nd quarter business investment, trade, and industrial production numbers. We also expect house price data due out on Wednesday and Thursday to also be brushed aside. Outside of the numbers, any Brexit chatter will need close monitoring, with Brexit continuing to be the key driver near-term The GBP/USD ended the week down 1.79% at $1.2162. For the Loonie: It’s a relatively quiet week ahead on the data front. July’s Ivey PMI due out on Wednesday and employment figures due out on Friday will provide direction in the week. We expect housing sector numbers due out on Thursday and Friday to have a muted impact on the Loonie. Outside of the stats, the IEA’s monthly report and sentiment towards the U.S – China trade war will also influence. The Loonie ended the week down 0.31% to C$1.3207 against the U.S Dollar. Out of Asia For the Aussie Dollar: It’s a relatively quiet but influential week ahead. Economic data is limited June trade figures due out on Tuesday and June home loan numbers due out on Wednesday. Trade data will provide direction on the data front. Of greater significance will be the RBA’s interest rate decision and rate statement on Tuesday. In the wake of the FED’s rate cut, the RBA is expected to keep rates steady at 1%. The big question will be on whether there is any hint of a rate cut in the months ahead. The RBA is also scheduled to release its monetary policy statement on Friday. With a lack of stats, we can expect the Aussie Dollar to be responsive on the day. From elsewhere, China’s July service sector PMI and trade data to also impact in the week. On the geopolitical front, the U.S – China trade war will continue to influence. The Aussie Dollar ended the week down by 1.59% to $0.6801. For the Japanese Yen: It’s another relatively busy week ahead on the economic calendar . July service sector PMI gets the week going on Monday. As the manufacturing sector activity continues to struggle, service sector numbers will need to provide support. Household spending numbers due out on Tuesday will also be key ahead of 2 nd quarter GDP numbers due out on Friday. We expect current account data, due out on Thursday, to have a muted impact on sentiment towards BoJ monetary policy. Outside of the numbers, expect chatter on trade from the U.S and Beijing to remain the key driver. The Japanese Yen ended the week up 1.92% to ¥106.59 against the U.S Dollar. For the Kiwi Dollar: It’s a busy week ahead. Key stats include 2 nd quarter employment and inflation figures due out on Tuesday will have a material impact on the Kiwi. The main event, however, is the RBNZ interest rate decision on Wednesday. The RBNZ is expected to cut rates to 1.25% this week. With the rate cut priced in, it’s all about the forward guidance. Will the rate statement and press conference signal further action ahead or will it be a hold through to next year? Outside of the numbers, we expect the Kiwi Dollar to continue to be sensitive to geopolitical risk. Risk aversion and a dovish RBNZ rate cut would see the Kiwi Dollar visit $0.64 levels, last visited in June. The Kiwi Dollar ended the week down 1.51% to $0.6536. Out of China: It’s a relatively busy week ahead on the economic data front. July service sector PMI figures will influence market risk appetite ahead of July trade data due out on Thursday. Of less influence in the week are July inflation figures that are due out on Friday. Outside of the stats, updates from the U.S – China trade talks will also continue to drive the markets. Following Trump’s latest threat of fresh tariffs, China’s response and any U.S reaction will need consideration. The Hang Seng slid by 5.21% in the week, with the CSI300 ending the week down by 2.88%. Geo-Politics Trade Wars : No further face to face meetings are expected until next month. That leaves Trump’s Twitter account and Beijing to influence in the week ahead. Judging by Trump’s tweets from last week, there’s a long way to go before any resolution. That’s not good for anyone, particularly a U.S president in search of a 2 nd term in office… UK Politics : It’s all about Brexit as new British Prime Minister Boris Johnson looks to set his mark. The British PM issued an ultimatum to the EU early on, stating that there would be no discussions until the Irish backstop is removed. Unsurprisingly, there have been no talks as the EU continues to stand its ground. Expect more chatter in the week ahead… Iran : No news may be good news for now, but with the U.S in a trade war with China and withdrawing from a nuclear agreement with Russia, things could get messy… The Rest The RBA: While the RBA is expected to leave rates unchanged on Tuesday, the RBA rate statement will be key. Any hint of further rate cuts and expect the Aussie Dollar to take a tumble, particularly after the FED’s hawkish rate cut last week. The RBNZ: The RBNZ is expected to cut rates on Wednesday. With a 25 basis point cut priced in, will the RBNZ signal further cuts on the horizon or signal a near-term end to the easing cycle. With the U.S – China trade war showing no signs of an end, it’s hard to foresee a hawkish cut. Earnings: It’s another big week ahead… Earnings releases and outlooks will not just influence the U.S majors, but risk appetite across the global financial markets. Corporate America: Tuesday, 6 th August Walt Disney Co. Corporate Germany Monday, 5 th August Continental AG Wednesday, 7 th August Commerzbank AG Wirecard AG Thursday, 8 th August ThyssenKrupp AG This article was originally posted on FX Empire More From FXEMPIRE: Oil Price Fundamental Weekly Forecast – Weak Dollar Could Be Supportive Natural Gas Price Prediction – Prices Drop to 3-year Low Commodity-Linked Aussie, Kiwi Tumble as Money Flows into Safe-Haven Yen U.S Mortgage Rates – Hold Steady But Could Be in for a Slide Bitcoin Cash – ABC, Litecoin and Ripple Daily Analysis – 04/08/19 Bitcoin Cash – ABC, Litecoin and Ripple Daily Analysis – 03/08/19 \|\| From Ghana to the Bronx, These Teen Bitcoiners Are Building the Future: Jemima Joseph, 18, is working a summer job as a social media manager for a crypto startup after graduating from high school in the Bronx. And she learned how to make her first cryptocurrency transaction, a purchase usingzcash, with theFlexamobile app. It was a summer day, so hot the air outside felt like soup, when Joseph joined 10 other teenagers inside the BXL Business Incubator in a ragged neighborhood in the South Bronx. Their former high school English teacher,Carlos Acevedo, arranged for representatives from the Electric Coin Company, Messari, Gemini, Flexa and Casa to teach a two-day workshop for local students interested in cryptocurrency. Sitting near Joseph during the lecture is Emmanuel Ntiamoab, 18, soon to be a computer science student at the University of Buffalo. Related:Bitcoin Eyes $12K Price Hurdle as Dominance Rate Hits 28-Month High “We, as students in the South Bronx, don’t often get the opportunity to be a part of something bigger,” said Ntiamoab. “So if this cryptocurrency is really like the internet, I want to learn how to be a part of it. I’m interested in development.” Many of these students hail from immigrant communities, Ghanian, Jamaican, Nigerian, and Dominican, plus, even among the American students there are several Puerto Ricans. Most of them work after school to help support their families. They’re familiar with cross-border payments within underbanked communities. What they don’t know are the different tools available today. “There’s a large population of unbanked and underbanked people right here,” Acevedo told CoinDesk. “They pay predatory fees. … There are fewer bank branches in the Bronx than any other borough.” It’s true. The streets outside are full of places to get cash loans and sell jewelry and send payments abroad, all with brightly colored signs, and their correspondingly loud fees. Electric Coin Company VP of Marketing Josh Swihart told CoinDesk each student got a small zcash allowance for completing the workshop. Related:Bitcoin’s Price Jumps Back Above $11K for the First Time In 3 Weeks “I’d love to see this replicated in other cities,” Swihart told CoinDesk. “We’ve already been asked about Oakland.” Although Joseph already has a summer job in the industry, several other students were interested in finding internships or staying after for the entrepreneurship coaching by the BXL Business Incubator. They’ve now joined dozens of teenagers around the world who told CoinDesk about their plans to join the cryptocurrency industry, starting by using crypto assets to further their own education. Jemima Joseph learning about zcash with friend Joswald Batista, who is new to the crypto space. (Photo by Leigh Cuen for CoinDesk) That’s what Toronto-based developer Anish Agnihotri, 16, told CoinDesk keeps him engaged in open-source projects since he first learned about bitcoin in 2015. “I like that anyone, anywhere, can connect with a community of builders that is so welcoming,” Agnihotri said. “I’ve worked with people from Africa, Mexico, China, through things like Gitcoin.” Fellow Toronto-nativeTalha Atta, 17,told CoinDesk he was immediately inspired when he learned about bitcoin from the news in 2017. “Remittances, being able to move money abroad without any fees, would really help my family in Pakistan,” Atta said. “I just want to find the right technology to solve problems and reduce inequality.” He’s already started experimenting with such use cases. Earlier this year, Atta won ahackathonwith some friends by making an IOTA-fueled micropayments system for people who don’t have WiFi to tap into other people’s connections. Whether they are starting their own companies, studying computer science, doing internships, contributing to open source projects on GitHub or helping educate their peers, here are10 more teens to watch as they rise through the crypto ecosystem: Few bitcoiners hustle as hard as the 17-year-old founder of BlockXAfrica. The Ghana-based Akyaw runs educational meetups through an email newsletter and Telegram group with nearly 300 subscribers, plus 16 teen volunteers who help organize meetups. “We are working on content in local languages and our English content is always based on local examples and things relevant to the average Ghanaian,” he said. Akyaw is ramping up BlockXAfrica’s programming this year, with plans for a hackathon, a developer training program, and an online course by 2020. He said the developer training will focus on apps for using cryptocurrency that leverageinterfaces the local community is already familiar with. “People in Africa are more familiar with sending money through mobile phone numbers than email addresses,” he said. Eventually, his goal is to turn BlockXAfrica into a monetized business, with paid trainings and exclusive content. Until then, the group is focused on spreading high-quality information and combating the myth that all cryptocurrencies are “a scam,” he said. “Most of [the participants] are teenagers because I started by speaking to my friends,” Akyaw added. By the age of 16, this entrepreneur from Saharanpur in northern India already sold herCrypto Price Trackermobile app, which monitors1,000 cryptocurrencies across 20 exchanges in 10 languages,to Redwood City Ventures. The iOS app maps bitcoin’s price in 32 different fiat currencies. Its global, user-friendly focus earned her the “Woman of the Year” award at a CryptoChicks conference in Toronto in April. Despite an onslaught ofdeath threats and cyberbullying, Arora continues to work with Redwood City Ventures to further develop the product, which has been downloaded by more than 25,000 people so far. Instead of letting the trolls get her down, Arora usedher earnings to buy textbooks and apply for aO-1A visato stay and work in the U.S. She has since relocated to San Francisco and hopes to stay to work in the cryptocurrency industry. Now her second app, Cryptos Stickers, offers over 50 iMessage stickers related to various crypto memes. Over in London, node wizard Anand Patel has helped at least 10 people set up their own personal nodes for various cryptocurrencies, in addition to roughly 100 people using his scripts to run nodes. “For bitcoin, I have a lightning node testing their Layer 2 solution,” Patel told CoinDesk. “I wanted to have more of an impact on the new technology so I’d help different communities by creating install scripts to simplify the process for new users trying to set up miners and full nodes.” Since he first discovered bitcoin four years ago, Patel graduated from theblockchain workshopled by Bitcoin Core contributor Jimmy Song and helped secure networks for proof-of-stake crypto projects such as PIVX, Chaincoin, OXY and Rise. “I had the basic skills so I thought I’d just experiment, see what’s being done, run different people’s software and learn the process,” he said, adding that he is inspired to help facilitate “anew generation of entrepreneurs that value liberty and co-creation through decentralization.” Meanwhile in the U.S. state of Washington, a 15-year-old figure skater is starting research to build a blockchain application for local fruit growers and sellers. Pichini’s interest in distributed databases started while working with her dad to build a community registry of ice skating competitions and opportunities. Plus, she started trading bitcoin with her parents as a learning exercise. After attending Song’s bitcoin seminar, Pichini noticed all the farmers and packing plants in her town shipping cherries and apples across the country. “Especially here in Washington, there are a lot of people who are mining [bitcoin],” she told CoinDesk. “I think that [bitcoin] could actually be used as payment, especially in the wholesale industry. …I think I’d want to start my own company and have blockchain be a part of it.” Minneapolis native Lim bought his first bitcoin in 2016, after hearing about it from friends at school, and quickly became a regular at local bitcoin meetups. When Lim’s mother experienced severe health problems after several strokes, he pondered how to apply knowledge of the bitcoin ethos to the healthcare industry. “In general, what I want to do is to be on the cutting-edge of blockchain technology in the healthcare space,” Lim told CoinDesk. “Putting myself out there was the best thing I could have done, instead of just reading books but also meeting people who have experience in this space.” Lim went on to win a Startup Weekend Minneapolis hackathon in 2017 with a Hyperledger-based blockchain solution calledBlocVac, which allows patients to keep and share their own immunization records.Since then, Lim has presented his blockchain experiments at universities likeMITand community events withTechstars. “I see myself primarily as an entrepreneur,” Lim said, “making it commonplace for people to be using applications on top of [the blockchain].” This Londoner made a name for himself in March 2018 bydiscovering a flawin the Ledger hardware wallet. His blog post about the vulnerability propelled him toTwitter fame, with some conspiracy theorists suggesting the teen hacker worked for the rival startup Trezor. In reality,Rashidhas contributed code to Trezor’s firmware to enhance security, although he’s not officially involved with the company, and occasionally submits contributions to open source projects such as Bitcoin Core and zcash. “When you look back on history, or even current world affairs in less fortunate places in the world, you can see where something like bitcoin could be applied to really improve people’s lives,” Rashid told CoinDesk. His goal is to help improve “the security and usability of private key management” across the cryptocurrency ecosystem. For now, Rashid prefers to study and experiment on his own rather than join a startup or launch his own venture. “I would like to study proposals for privacy improvements, such as the zero-knowledge proofs used in zcash,” he said. Over in Israel, 18-year-old Sack created his own freelance job teaching developers about smart contracts and writing blockchain research reports for startups. So far, eight developers have taken his ethereum course, customized for each client. He developed the base curriculum while teaching himself how to deploy ethereum code in early 2017. “You get to meet a lot of interesting people,” Sack told CoinDesk, speaking of both the ethereum and bitcoin communities. “These issues actually matter. This is the internet disrupting something that is very inherent: money, programmable money. It makes me want to put my time in it, because there’s a lot to do here.” Several of the 25 students who attended Sack’s lectures at Tel Aviv University are now working on their own open source applications. One such student even went on to participate in the winning team of the Tel AvivBitcoin Embassy’s2018 hackathon with a project related to the lightning network, a scaling solution for bitcoin. Since then, he has also contributed to Andreas Antonopoulos’s GitHub resources for ethereum developers and made a lightning wallet as an experiment. “We had a great time. It really helped me with my research,” Sacks said of the wallet, which he developed with friends at a Tel Aviv hackathon. He hopes to continue freelancing in the industry, and contributing to the open source projects that fascinate him. DAOstack developer Kaufman, 18, startedcontributingto open source ethereum projects in January 2018, after two years of researching the space. “I also love the community and the openness of the platform,” Kaufman told CoinDesk. “I already suggested an EIP [ethereum improvement proposal].” Kaufman dropped out of his freshman year of high school to start working full-time as a freelance mobile app developer at Tel Avivian startups. But it became a hassle for the prodigy’s parents to get him banking services. “As a teenager, I have a lot of problems with banks,” Kaufman said. “The concept of bitcoin giving me control over my own financial assets inspires me a lot.” In addition to leading ethereum workshops for over 100 students at coding school Le Wagon in Tel Aviv,Kaufman is currently researching the lightning network. “I’m really interested in how the Lightning network can bring bitcoin to more mainstream adoption,” he said. “I’m currently trying to see how I can build something for that purpose.” When Ramos graduated from high school in 2018, he promptly launched his second startup Shasta, a blockchain energy marketplace. The idea came to this Spanish entrepreneur because his first startup, Sharge, which earned him a place on theForbes 30 under 30in the European tech sector list, couldn’t get off the ground when it faced regulatory issues related to electric cars and energy sharing. Ramos first heard about cryptocurrency in 2015 at Tim Draper’s coworking space in Silicon Valley. In 2018, a five-person team helped Ramos launch the ethereum-based project Shasta with a solar-powered pilot in a small Spanish village. Ramos said nearly 2,000 people have used the testnet so far. “It’s a platform that lets consumers and providers connect in a DAO [decentralized autonomous organization],” Ramos told CoinDesk. “You can manage all the payments and receipts, all the things going on in this marketplace. … If we think it makes sense to make a utility token in this program, if it really makes sense, then we will do it. If not, we will raise money from traditional investors.” Computer science student Gerald Nash, 19, has already interned at Coinbase and led several programs at the Howard University Blockchain Lab. “A lot of students around me have randomly had their Venmo or PayPal accounts shut down or frozen even if there’s nothing suspicious,” Nash told CoinDesk.“The big thing that inspired me the most is the idea of monetary sovereignty.” Nash first learned about bitcoin on Reddit in 2013, when he was still in high school in Atlanta, Georgia. Now he runs campus events to teach students how to manage noncustodial bitcoin wallets with private keys, the alphanumeric strings that act as passwords. “I mostly follow bitcoin and ethereum as two of my favorite projects,” he said. “I think over the next five years [crypto] will provide more technical users with greater financial inclusion. … People will have greater access to moving and growing their money.” Image of teen bitcoiners in Ghana (including Elisha Owusu Akyaw, second from left) via BlockXAfrica • Bitcoin Won’t Be a Global Reserve Currency. But It’s Opening the Box • ConsenSys-Backed Truffle Is Taking Its Dev Tools Beyond Just Ethereum \|\| From Ghana to the Bronx, These Teen Bitcoiners Are Building the Future: Jemima Joseph, 18, is working a summer job as a social media manager for a crypto startup after graduating from high school in the Bronx. And she learned how to make her first cryptocurrency transaction, a purchase usingzcash, with theFlexamobile app. It was a summer day, so hot the air outside felt like soup, when Joseph joined 10 other teenagers inside the BXL Business Incubator in a ragged neighborhood in the South Bronx. Their former high school English teacher,Carlos Acevedo, arranged for representatives from the Electric Coin Company, Messari, Gemini, Flexa and Casa to teach a two-day workshop for local students interested in cryptocurrency. Sitting near Joseph during the lecture is Emmanuel Ntiamoab, 18, soon to be a computer science student at the University of Buffalo. Related:Bitcoin Eyes $12K Price Hurdle as Dominance Rate Hits 28-Month High “We, as students in the South Bronx, don’t often get the opportunity to be a part of something bigger,” said Ntiamoab. “So if this cryptocurrency is really like the internet, I want to learn how to be a part of it. I’m interested in development.” Many of these students hail from immigrant communities, Ghanian, Jamaican, Nigerian, and Dominican, plus, even among the American students there are several Puerto Ricans. Most of them work after school to help support their families. They’re familiar with cross-border payments within underbanked communities. What they don’t know are the different tools available today. “There’s a large population of unbanked and underbanked people right here,” Acevedo told CoinDesk. “They pay predatory fees. … There are fewer bank branches in the Bronx than any other borough.” It’s true. The streets outside are full of places to get cash loans and sell jewelry and send payments abroad, all with brightly colored signs, and their correspondingly loud fees. Electric Coin Company VP of Marketing Josh Swihart told CoinDesk each student got a small zcash allowance for completing the workshop. Related:Bitcoin’s Price Jumps Back Above $11K for the First Time In 3 Weeks “I’d love to see this replicated in other cities,” Swihart told CoinDesk. “We’ve already been asked about Oakland.” Although Joseph already has a summer job in the industry, several other students were interested in finding internships or staying after for the entrepreneurship coaching by the BXL Business Incubator. They’ve now joined dozens of teenagers around the world who told CoinDesk about their plans to join the cryptocurrency industry, starting by using crypto assets to further their own education. Jemima Joseph learning about zcash with friend Joswald Batista, who is new to the crypto space. (Photo by Leigh Cuen for CoinDesk) That’s what Toronto-based developer Anish Agnihotri, 16, told CoinDesk keeps him engaged in open-source projects since he first learned about bitcoin in 2015. “I like that anyone, anywhere, can connect with a community of builders that is so welcoming,” Agnihotri said. “I’ve worked with people from Africa, Mexico, China, through things like Gitcoin.” Fellow Toronto-nativeTalha Atta, 17,told CoinDesk he was immediately inspired when he learned about bitcoin from the news in 2017. “Remittances, being able to move money abroad without any fees, would really help my family in Pakistan,” Atta said. “I just want to find the right technology to solve problems and reduce inequality.” He’s already started experimenting with such use cases. Earlier this year, Atta won ahackathonwith some friends by making an IOTA-fueled micropayments system for people who don’t have WiFi to tap into other people’s connections. Whether they are starting their own companies, studying computer science, doing internships, contributing to open source projects on GitHub or helping educate their peers, here are10 more teens to watch as they rise through the crypto ecosystem: Few bitcoiners hustle as hard as the 17-year-old founder of BlockXAfrica. The Ghana-based Akyaw runs educational meetups through an email newsletter and Telegram group with nearly 300 subscribers, plus 16 teen volunteers who help organize meetups. “We are working on content in local languages and our English content is always based on local examples and things relevant to the average Ghanaian,” he said. Akyaw is ramping up BlockXAfrica’s programming this year, with plans for a hackathon, a developer training program, and an online course by 2020. He said the developer training will focus on apps for using cryptocurrency that leverageinterfaces the local community is already familiar with. “People in Africa are more familiar with sending money through mobile phone numbers than email addresses,” he said. Eventually, his goal is to turn BlockXAfrica into a monetized business, with paid trainings and exclusive content. Until then, the group is focused on spreading high-quality information and combating the myth that all cryptocurrencies are “a scam,” he said. “Most of [the participants] are teenagers because I started by speaking to my friends,” Akyaw added. By the age of 16, this entrepreneur from Saharanpur in northern India already sold herCrypto Price Trackermobile app, which monitors1,000 cryptocurrencies across 20 exchanges in 10 languages,to Redwood City Ventures. The iOS app maps bitcoin’s price in 32 different fiat currencies. Its global, user-friendly focus earned her the “Woman of the Year” award at a CryptoChicks conference in Toronto in April. Despite an onslaught ofdeath threats and cyberbullying, Arora continues to work with Redwood City Ventures to further develop the product, which has been downloaded by more than 25,000 people so far. Instead of letting the trolls get her down, Arora usedher earnings to buy textbooks and apply for aO-1A visato stay and work in the U.S. She has since relocated to San Francisco and hopes to stay to work in the cryptocurrency industry. Now her second app, Cryptos Stickers, offers over 50 iMessage stickers related to various crypto memes. Over in London, node wizard Anand Patel has helped at least 10 people set up their own personal nodes for various cryptocurrencies, in addition to roughly 100 people using his scripts to run nodes. “For bitcoin, I have a lightning node testing their Layer 2 solution,” Patel told CoinDesk. “I wanted to have more of an impact on the new technology so I’d help different communities by creating install scripts to simplify the process for new users trying to set up miners and full nodes.” Since he first discovered bitcoin four years ago, Patel graduated from theblockchain workshopled by Bitcoin Core contributor Jimmy Song and helped secure networks for proof-of-stake crypto projects such as PIVX, Chaincoin, OXY and Rise. “I had the basic skills so I thought I’d just experiment, see what’s being done, run different people’s software and learn the process,” he said, adding that he is inspired to help facilitate “anew generation of entrepreneurs that value liberty and co-creation through decentralization.” Meanwhile in the U.S. state of Washington, a 15-year-old figure skater is starting research to build a blockchain application for local fruit growers and sellers. Pichini’s interest in distributed databases started while working with her dad to build a community registry of ice skating competitions and opportunities. Plus, she started trading bitcoin with her parents as a learning exercise. After attending Song’s bitcoin seminar, Pichini noticed all the farmers and packing plants in her town shipping cherries and apples across the country. “Especially here in Washington, there are a lot of people who are mining [bitcoin],” she told CoinDesk. “I think that [bitcoin] could actually be used as payment, especially in the wholesale industry. …I think I’d want to start my own company and have blockchain be a part of it.” Minneapolis native Lim bought his first bitcoin in 2016, after hearing about it from friends at school, and quickly became a regular at local bitcoin meetups. When Lim’s mother experienced severe health problems after several strokes, he pondered how to apply knowledge of the bitcoin ethos to the healthcare industry. “In general, what I want to do is to be on the cutting-edge of blockchain technology in the healthcare space,” Lim told CoinDesk. “Putting myself out there was the best thing I could have done, instead of just reading books but also meeting people who have experience in this space.” Lim went on to win a Startup Weekend Minneapolis hackathon in 2017 with a Hyperledger-based blockchain solution calledBlocVac, which allows patients to keep and share their own immunization records.Since then, Lim has presented his blockchain experiments at universities likeMITand community events withTechstars. “I see myself primarily as an entrepreneur,” Lim said, “making it commonplace for people to be using applications on top of [the blockchain].” This Londoner made a name for himself in March 2018 bydiscovering a flawin the Ledger hardware wallet. His blog post about the vulnerability propelled him toTwitter fame, with some conspiracy theorists suggesting the teen hacker worked for the rival startup Trezor. In reality,Rashidhas contributed code to Trezor’s firmware to enhance security, although he’s not officially involved with the company, and occasionally submits contributions to open source projects such as Bitcoin Core and zcash. “When you look back on history, or even current world affairs in less fortunate places in the world, you can see where something like bitcoin could be applied to really improve people’s lives,” Rashid told CoinDesk. His goal is to help improve “the security and usability of private key management” across the cryptocurrency ecosystem. For now, Rashid prefers to study and experiment on his own rather than join a startup or launch his own venture. “I would like to study proposals for privacy improvements, such as the zero-knowledge proofs used in zcash,” he said. Over in Israel, 18-year-old Sack created his own freelance job teaching developers about smart contracts and writing blockchain research reports for startups. So far, eight developers have taken his ethereum course, customized for each client. He developed the base curriculum while teaching himself how to deploy ethereum code in early 2017. “You get to meet a lot of interesting people,” Sack told CoinDesk, speaking of both the ethereum and bitcoin communities. “These issues actually matter. This is the internet disrupting something that is very inherent: money, programmable money. It makes me want to put my time in it, because there’s a lot to do here.” Several of the 25 students who attended Sack’s lectures at Tel Aviv University are now working on their own open source applications. One such student even went on to participate in the winning team of the Tel AvivBitcoin Embassy’s2018 hackathon with a project related to the lightning network, a scaling solution for bitcoin. Since then, he has also contributed to Andreas Antonopoulos’s GitHub resources for ethereum developers and made a lightning wallet as an experiment. “We had a great time. It really helped me with my research,” Sacks said of the wallet, which he developed with friends at a Tel Aviv hackathon. He hopes to continue freelancing in the industry, and contributing to the open source projects that fascinate him. DAOstack developer Kaufman, 18, startedcontributingto open source ethereum projects in January 2018, after two years of researching the space. “I also love the community and the openness of the platform,” Kaufman told CoinDesk. “I already suggested an EIP [ethereum improvement proposal].” Kaufman dropped out of his freshman year of high school to start working full-time as a freelance mobile app developer at Tel Avivian startups. But it became a hassle for the prodigy’s parents to get him banking services. “As a teenager, I have a lot of problems with banks,” Kaufman said. “The concept of bitcoin giving me control over my own financial assets inspires me a lot.” In addition to leading ethereum workshops for over 100 students at coding school Le Wagon in Tel Aviv,Kaufman is currently researching the lightning network. “I’m really interested in how the Lightning network can bring bitcoin to more mainstream adoption,” he said. “I’m currently trying to see how I can build something for that purpose.” When Ramos graduated from high school in 2018, he promptly launched his second startup Shasta, a blockchain energy marketplace. The idea came to this Spanish entrepreneur because his first startup, Sharge, which earned him a place on theForbes 30 under 30in the European tech sector list, couldn’t get off the ground when it faced regulatory issues related to electric cars and energy sharing. Ramos first heard about cryptocurrency in 2015 at Tim Draper’s coworking space in Silicon Valley. In 2018, a five-person team helped Ramos launch the ethereum-based project Shasta with a solar-powered pilot in a small Spanish village. Ramos said nearly 2,000 people have used the testnet so far. “It’s a platform that lets consumers and providers connect in a DAO [decentralized autonomous organization],” Ramos told CoinDesk. “You can manage all the payments and receipts, all the things going on in this marketplace. … If we think it makes sense to make a utility token in this program, if it really makes sense, then we will do it. If not, we will raise money from traditional investors.” Computer science student Gerald Nash, 19, has already interned at Coinbase and led several programs at the Howard University Blockchain Lab. “A lot of students around me have randomly had their Venmo or PayPal accounts shut down or frozen even if there’s nothing suspicious,” Nash told CoinDesk.“The big thing that inspired me the most is the idea of monetary sovereignty.” Nash first learned about bitcoin on Reddit in 2013, when he was still in high school in Atlanta, Georgia. Now he runs campus events to teach students how to manage noncustodial bitcoin wallets with private keys, the alphanumeric strings that act as passwords. “I mostly follow bitcoin and ethereum as two of my favorite projects,” he said. “I think over the next five years [crypto] will provide more technical users with greater financial inclusion. … People will have greater access to moving and growing their money.” Image of teen bitcoiners in Ghana (including Elisha Owusu Akyaw, second from left) via BlockXAfrica • Bitcoin Won’t Be a Global Reserve Currency. But It’s Opening the Box • ConsenSys-Backed Truffle Is Taking Its Dev Tools Beyond Just Ethereum \|\| From Ghana to the Bronx, These Teen Bitcoiners Are Building the Future: Jemima Joseph, 18, is working a summer job as a social media manager for a crypto startup after graduating from high school in the Bronx. And she learned how to make her first cryptocurrency transaction, a purchase using zcash , with the Flexa mobile app. It was a summer day, so hot the air outside felt like soup, when Joseph joined 10 other teenagers inside the BXL Business Incubator in a ragged neighborhood in the South Bronx. Their former high school English teacher, Carlos Acevedo , arranged for representatives from the Electric Coin Company, Messari, Gemini, Flexa and Casa to teach a two-day workshop for local students interested in cryptocurrency. Sitting near Joseph during the lecture is Emmanuel Ntiamoab, 18, soon to be a computer science student at the University of Buffalo. Related: Bitcoin Eyes $12K Price Hurdle as Dominance Rate Hits 28-Month High We, as students in the South Bronx, dont often get the opportunity to be a part of something bigger, said Ntiamoab. So if this cryptocurrency is really like the internet, I want to learn how to be a part of it. Im interested in development. Many of these students hail from immigrant communities, Ghanian, Jamaican, Nigerian, and Dominican, plus, even among the American students there are several Puerto Ricans. Most of them work after school to help support their families. Theyre familiar with cross-border payments within underbanked communities. What they dont know are the different tools available today. Theres a large population of unbanked and underbanked people right here, Acevedo told CoinDesk. They pay predatory fees. There are fewer bank branches in the Bronx than any other borough. Its true. The streets outside are full of places to get cash loans and sell jewelry and send payments abroad, all with brightly colored signs, and their correspondingly loud fees. Electric Coin Company VP of Marketing Josh Swihart told CoinDesk each student got a small zcash allowance for completing the workshop. Story continues Related: Bitcoins Price Jumps Back Above $11K for the First Time In 3 Weeks Id love to see this replicated in other cities, Swihart told CoinDesk. Weve already been asked about Oakland. Although Joseph already has a summer job in the industry, several other students were interested in finding internships or staying after for the entrepreneurship coaching by the BXL Business Incubator. Theyve now joined dozens of teenagers around the world who told CoinDesk about their plans to join the cryptocurrency industry, starting by using crypto assets to further their own education. Jemima Joseph learning about zcash with friend Joswald Batista, who is new to the crypto space. (Photo by Leigh Cuen for CoinDesk) Meet the teens Thats what Toronto-based developer Anish Agnihotri, 16, told CoinDesk keeps him engaged in open-source projects since he first learned about bitcoin in 2015. I like that anyone, anywhere, can connect with a community of builders that is so welcoming, Agnihotri said. Ive worked with people from Africa, Mexico, China, through things like Gitcoin. Fellow Toronto-native Talha Atta, 17, told CoinDesk he was immediately inspired when he learned about bitcoin from the news in 2017. Remittances, being able to move money abroad without any fees, would really help my family in Pakistan, Atta said. I just want to find the right technology to solve problems and reduce inequality. Hes already started experimenting with such use cases. Earlier this year, Atta won a hackathon with some friends by making an IOTA-fueled micropayments system for people who dont have WiFi to tap into other peoples connections. Whether they are starting their own companies, studying computer science, doing internships, contributing to open source projects on GitHub or helping educate their peers, here are 10 more teens to watch as they rise through the crypto ecosystem: 1 . Elisha Owusu Akyaw Few bitcoiners hustle as hard as the 17-year-old founder of BlockXAfrica. The Ghana-based Akyaw runs educational meetups through an email newsletter and Telegram group with nearly 300 subscribers, plus 16 teen volunteers who help organize meetups. We are working on content in local languages and our English content is always based on local examples and things relevant to the average Ghanaian, he said. Akyaw is ramping up BlockXAfricas programming this year, with plans for a hackathon, a developer training program, and an online course by 2020. He said the developer training will focus on apps for using cryptocurrency that leverage interfaces the local community is already familiar with. People in Africa are more familiar with sending money through mobile phone numbers than email addresses, he said. Eventually, his goal is to turn BlockXAfrica into a monetized business, with paid trainings and exclusive content. Until then, the group is focused on spreading high-quality information and combating the myth that all cryptocurrencies are a scam, he said. Most of [the participants] are teenagers because I started by speaking to my friends, Akyaw added. 2. Harshita Arora By the age of 16, this entrepreneur from Saharanpur in northern India already sold her Crypto Price Tracker mobile app, which monitors 1,000 cryptocurrencies across 20 exchanges in 10 languages, to Redwood City Ventures. The iOS app maps bitcoins price in 32 different fiat currencies. Its global, user-friendly focus earned her the Woman of the Year award at a CryptoChicks conference in Toronto in April. Despite an onslaught of death threats and cyberbullying , Arora continues to work with Redwood City Ventures to further develop the product, which has been downloaded by more than 25,000 people so far. Instead of letting the trolls get her down, Arora used her earnings to buy textbooks and apply for a O-1A visa to stay and work in the U.S. She has since relocated to San Francisco and hopes to stay to work in the cryptocurrency industry . Now her second app, Cryptos Stickers, offers over 50 iMessage stickers related to various crypto memes. 3. Anand Patel Over in London, node wizard Anand Patel has helped at least 10 people set up their own personal nodes for various cryptocurrencies, in addition to roughly 100 people using his scripts to run nodes. For bitcoin, I have a lightning node testing their Layer 2 solution, Patel told CoinDesk. I wanted to have more of an impact on the new technology so Id help different communities by creating install scripts to simplify the process for new users trying to set up miners and full nodes. Since he first discovered bitcoin four years ago, Patel graduated from the blockchain workshop led by Bitcoin Core contributor Jimmy Song and helped secure networks for proof-of-stake crypto projects such as PIVX, Chaincoin, OXY and Rise. I had the basic skills so I thought Id just experiment, see whats being done, run different peoples software and learn the process, he said, adding that he is inspired to help facilitate a new generation of entrepreneurs that value liberty and co-creation through decentralization. 4. Kiki Pichini Meanwhile in the U.S. state of Washington, a 15-year-old figure skater is starting research to build a blockchain application for local fruit growers and sellers. Pichinis interest in distributed databases started while working with her dad to build a community registry of ice skating competitions and opportunities. Plus, she started trading bitcoin with her parents as a learning exercise. After attending Songs bitcoin seminar, Pichini noticed all the farmers and packing plants in her town shipping cherries and apples across the country. Especially here in Washington, there are a lot of people who are mining [bitcoin], she told CoinDesk. I think that [bitcoin] could actually be used as payment, especially in the wholesale industry. I think Id want to start my own company and have blockchain be a part of it. 5. Ian Lim Minneapolis native Lim bought his first bitcoin in 2016, after hearing about it from friends at school, and quickly became a regular at local bitcoin meetups. When Lims mother experienced severe health problems after several strokes, he pondered how to apply knowledge of the bitcoin ethos to the healthcare industry. In general, what I want to do is to be on the cutting-edge of blockchain technology in the healthcare space, Lim told CoinDesk. Putting myself out there was the best thing I could have done, instead of just reading books but also meeting people who have experience in this space. Lim went on to win a Startup Weekend Minneapolis hackathon in 2017 with a Hyperledger-based blockchain solution called BlocVac , which allows patients to keep and share their own immunization records. Since then, Lim has presented his blockchain experiments at universities like MIT and community events with Techstars . I see myself primarily as an entrepreneur, Lim said, making it commonplace for people to be using applications on top of [the blockchain]. 6. Saleem Rashid This Londoner made a name for himself in March 2018 by discovering a flaw in the Ledger hardware wallet. His blog post about the vulnerability propelled him to Twitter fame , with some conspiracy theorists suggesting the teen hacker worked for the rival startup Trezor. In reality, Rashid has contributed code to Trezors firmware to enhance security, although hes not officially involved with the company, and occasionally submits contributions to open source projects such as Bitcoin Core and zcash. When you look back on history, or even current world affairs in less fortunate places in the world, you can see where something like bitcoin could be applied to really improve peoples lives, Rashid told CoinDesk. His goal is to help improve the security and usability of private key management across the cryptocurrency ecosystem. For now, Rashid prefers to study and experiment on his own rather than join a startup or launch his own venture. I would like to study proposals for privacy improvements, such as the zero-knowledge proofs used in zcash, he said. 7. Chanan Sack Over in Israel, 18-year-old Sack created his own freelance job teaching developers about smart contracts and writing blockchain research reports for startups. So far, eight developers have taken his ethereum course, customized for each client. He developed the base curriculum while teaching himself how to deploy ethereum code in early 2017. You get to meet a lot of interesting people, Sack told CoinDesk, speaking of both the ethereum and bitcoin communities. These issues actually matter. This is the internet disrupting something that is very inherent: money, programmable money. It makes me want to put my time in it, because theres a lot to do here. Several of the 25 students who attended Sacks lectures at Tel Aviv University are now working on their own open source applications. One such student even went on to participate in the winning team of the Tel Aviv Bitcoin Embassys 2018 hackathon with a project related to the lightning network, a scaling solution for bitcoin. Since then, he has also contributed to Andreas Antonopouloss GitHub resources for ethereum developers and made a lightning wallet as an experiment. We had a great time. It really helped me with my research, Sacks said of the wallet, which he developed with friends at a Tel Aviv hackathon. He hopes to continue freelancing in the industry, and contributing to the open source projects that fascinate him. 8. Ben Kaufman DAOstack developer Kaufman, 18, started contributing to open source ethereum projects in January 2018, after two years of researching the space. I also love the community and the openness of the platform, Kaufman told CoinDesk. I already suggested an EIP [ethereum improvement proposal]. Kaufman dropped out of his freshman year of high school to start working full-time as a freelance mobile app developer at Tel Avivian startups. But it became a hassle for the prodigys parents to get him banking services. As a teenager, I have a lot of problems with banks, Kaufman said. The concept of bitcoin giving me control over my own financial assets inspires me a lot. In addition to leading ethereum workshops for over 100 students at coding school Le Wagon in Tel Aviv, Kaufman is currently researching the lightning network. Im really interested in how the Lightning network can bring bitcoin to more mainstream adoption, he said. Im currently trying to see how I can build something for that purpose. 9. Alex Sicart Ramos When Ramos graduated from high school in 2018, he promptly launched his second startup Shasta, a blockchain energy marketplace. The idea came to this Spanish entrepreneur because his first startup, Sharge, which earned him a place on the Forbes 30 under 30 in the European tech sector list, couldnt get off the ground when it faced regulatory issues related to electric cars and energy sharing. Ramos first heard about cryptocurrency in 2015 at Tim Drapers coworking space in Silicon Valley. In 2018, a five-person team helped Ramos launch the ethereum-based project Shasta with a solar-powered pilot in a small Spanish village. Ramos said nearly 2,000 people have used the testnet so far. Its a platform that lets consumers and providers connect in a DAO [decentralized autonomous organization], Ramos told CoinDesk. You can manage all the payments and receipts, all the things going on in this marketplace. If we think it makes sense to make a utility token in this program, if it really makes sense, then we will do it. If not, we will raise money from traditional investors. 10. Gerald Nash Computer science student Gerald Nash, 19, has already interned at Coinbase and led several programs at the Howard University Blockchain Lab. A lot of students around me have randomly had their Venmo or PayPal accounts shut down or frozen even if theres nothing suspicious, Nash told CoinDesk. The big thing that inspired me the most is the idea of monetary sovereignty. Nash first learned about bitcoin on Reddit in 2013, when he was still in high school in Atlanta, Georgia. Now he runs campus events to teach students how to manage noncustodial bitcoin wallets with private keys, the alphanumeric strings that act as passwords. I mostly follow bitcoin and ethereum as two of my favorite projects, he said. I think over the next five years [crypto] will provide more technical users with greater financial inclusion. People will have greater access to moving and growing their money. Image of teen bitcoiners in Ghana (including Elisha Owusu Akyaw, second from left) via BlockXAfrica Related Stories Bitcoin Wont Be a Global Reserve Currency. But Its Opening the Box ConsenSys-Backed Truffle Is Taking Its Dev Tools Beyond Just Ethereum \|\| U.S Mortgage Rates – Hold Steady But Could Be in for a Slide: Mortgage rates were flat in the week ending 1stAugust. 30-year fixed rates held steady at 3.75% following a 6 basis point fall in the week ending 25thJuly. The flat week left 30-year rates close to the lowest level since late 2016 according to figures released byFreddie Mac. Compared to this time last year, 30-year fixed rates were down by 85 basis points. More significantly, 30-year fixed rates are down by 119 basis points since last November’s most recent peak of 4.94%. Freddie Mac noted that mortgage rates have stabilized over the last 2-months, reflecting the recovery and improvement in the U.S economy. Looking ahead, the combination of low mortgage rates, tight labor market, and higher consumer confidence should support the housing market. House price sales are expected to pick up through the summer and early fall. Key stats out of the U.S through the 1sthalf of the week were on the heavier side. After a quiet Monday, the FED’s preferred Core PCE Price Index numbers, personal spending, and consumer confidence figures provided direction on Tuesday. While the annual rate of inflation picked up from 1.5% to 1.6% in June, inflation continued to fall short of the FED’s 2% target. The lack of inflationary pressures supported the anticipated rate cut on Wednesday. Consumer confidence rebounded in July, with the CB Consumer Confidence Index rising from 124.3 to 135.7. Personal spending also held steady, rising by 0.3% following a 0.4% rise in May. On Wednesday, the ADP nonfarm employment change figure also supported yields, with 156k jobs added in July. Economists had forecasted a 150k rise following a 112k rise in June. The FED hawkish rate cut was the main event of the week, however. Failure to signal further rate cuts down the road did little to Treasury yields mid-week. Outside of the stats, negative sentiment towards the U.S – China trade war weighed. The weekly average rates for new mortgages as of 1stAugust were quoted byFreddie Macto be: • 30-year fixed rates remained unchanged at 3.75% in the week. Rates were down from 4.60% from a year ago. The average fee rose from 0.5 to 0.6 points. • 15-year fixed rates increased by 2 basis points to 3.20% in the week. Rates were down from 4.08% from a year ago. The average fee held steady at 0.5 points. • 5-year fixed rates slipped by 1 basis point to 3.46% in the week. Rates were down by 47 basis points from last year’s 3.93%. The average fee held steady at 0.4 points. For the week ending 26thJuly,rateswere quoted to be: • Average interest rates for 30-year fixed, backed by the FHA, decreased from 3.98% to 3.94%, the lowest level since Sep-17. Points decreased from 0.31 to 0.29 (incl. origination fee) for 80% LTV loans. • Average interest rates for 30-year fixed with conforming loan balances remained unchanged at 4.08%. Points increased from 0.33 to 0.34 (incl. origination fee) for 80% LTV loans. • Average 30-year rates for jumbo loan balances also remained unchanged at 4.04%. Points decreased from 0.25 to 0.22 (incl. origination fee) for 80% LTV loans. Weekly figures released by the Mortgage Bankers Association showed that the Market Composite Index, which is a measure of mortgage loan application volume, decreased by 2% in the week ending 26thJuly. The fall followed on from a 1.9% decline in the week ending 19thJuly. The Refinance Index increased by 0.1% in the week ending 26thJuly. The Index had decreased by 2% in the week ending 19thJuly. The share of refinance mortgage activity increased from 49.8% to 50.5%, reversing a fall from 50.0% to 49.8% in the week prior. According to the MBA, mortgage applications were down last week as a result of a 3% fall in purchase applications. In spite of the pullback, purchase activity was up by 6% year-on-year. The Mortgage Applications Index fell for a 3rdconsecutive week to reach its lowest level since March, however. In spite of strong demand, a lack of supply continued to restrict buying activity. It’s a relatively quiet first half of the week ahead. Key stats due out of the U.S include July service sector PMIs due out on Monday and June JOLTs job opening numbers due out on Tuesday. While we can expect the market’s preferred ISM non-manufacturing PMI to impact yields, market reaction to Trump’s latest tariff threat will likely continue to dictate risk sentiment. The U.S President would need to change his stance on tariffs or China would need to agree to get the ball rolling to prevent a further pullback in Treasury yields and ultimately mortgage rates… On the monetary policy front, FOMC member chatter will also have an impact. Thisarticlewas originally posted on FX Empire • Silver Weekly Price Forecast – Silver find plenty of buyers after initially dipping this week • In the Topsy Turvy World of Crypto, the Bitcoin Bulls Take the Week • Natural Gas Price Fundamental Weekly Forecast – In Position to Challenge Psychological $2.00 Level • The Week Ahead: Brexit, Central Banks, Trade and Stats in Focus • Dollar Index Retreats From 2-Year High As Chances of September Fed Rate Cut Jump • AUD/USD Forex Technical Analysis – Strengthens Over .6819, Weakens Under .6763 \|\| U.S Mortgage Rates Hold Steady But Could Be in for a Slide: Mortgage rates were flat in the week ending 1 st August. 30-year fixed rates held steady at 3.75% following a 6 basis point fall in the week ending 25 th July. The flat week left 30-year rates close to the lowest level since late 2016 according to figures released by Freddie Mac . Compared to this time last year, 30-year fixed rates were down by 85 basis points. More significantly, 30-year fixed rates are down by 119 basis points since last Novembers most recent peak of 4.94%. Freddie Mac noted that mortgage rates have stabilized over the last 2-months, reflecting the recovery and improvement in the U.S economy. Looking ahead, the combination of low mortgage rates, tight labor market, and higher consumer confidence should support the housing market. House price sales are expected to pick up through the summer and early fall. Economic Data from the Week Key stats out of the U.S through the 1 st half of the week were on the heavier side. After a quiet Monday, the FEDs preferred Core PCE Price Index numbers, personal spending, and consumer confidence figures provided direction on Tuesday. While the annual rate of inflation picked up from 1.5% to 1.6% in June, inflation continued to fall short of the FEDs 2% target. The lack of inflationary pressures supported the anticipated rate cut on Wednesday. Consumer confidence rebounded in July, with the CB Consumer Confidence Index rising from 124.3 to 135.7. Personal spending also held steady, rising by 0.3% following a 0.4% rise in May. On Wednesday, the ADP nonfarm employment change figure also supported yields, with 156k jobs added in July. Economists had forecasted a 150k rise following a 112k rise in June. The FED hawkish rate cut was the main event of the week, however. Failure to signal further rate cuts down the road did little to Treasury yields mid-week. Outside of the stats, negative sentiment towards the U.S China trade war weighed. Freddie Mac Rates The weekly average rates for new mortgages as of 1 st August were quoted by Freddie Mac to be : Story continues 30-year fixed rates remained unchanged at 3.75% in the week. Rates were down from 4.60% from a year ago. The average fee rose from 0.5 to 0.6 points. 15-year fixed rates increased by 2 basis points to 3.20% in the week. Rates were down from 4.08% from a year ago. The average fee held steady at 0.5 points. 5-year fixed rates slipped by 1 basis point to 3.46% in the week. Rates were down by 47 basis points from last years 3.93%. The average fee held steady at 0.4 points. Mortgage Bankers Association Rates For the week ending 26 th July, rates were quoted to be : Average interest rates for 30-year fixed, backed by the FHA, decreased from 3.98% to 3.94%, the lowest level since Sep-17. Points decreased from 0.31 to 0.29 (incl. origination fee) for 80% LTV loans. Average interest rates for 30-year fixed with conforming loan balances remained unchanged at 4.08%. Points increased from 0.33 to 0.34 (incl. origination fee) for 80% LTV loans. Average 30-year rates for jumbo loan balances also remained unchanged at 4.04%. Points decreased from 0.25 to 0.22 (incl. origination fee) for 80% LTV loans. Weekly figures released by the Mortgage Bankers Association showed that the Market Composite Index, which is a measure of mortgage loan application volume, decreased by 2% in the week ending 26 th July. The fall followed on from a 1.9% decline in the week ending 19 th July. The Refinance Index increased by 0.1% in the week ending 26 th July. The Index had decreased by 2% in the week ending 19 th July. The share of refinance mortgage activity increased from 49.8% to 50.5%, reversing a fall from 50.0% to 49.8% in the week prior. According to the MBA, mortgage applications were down last week as a result of a 3% fall in purchase applications. In spite of the pullback, purchase activity was up by 6% year-on-year. The Mortgage Applications Index fell for a 3 rd consecutive week to reach its lowest level since March, however. In spite of strong demand, a lack of supply continued to restrict buying activity. For the week ahead Its a relatively quiet first half of the week ahead. Key stats due out of the U.S include July service sector PMIs due out on Monday and June JOLTs job opening numbers due out on Tuesday. Outside of the numbers While we can expect the markets preferred ISM non-manufacturing PMI to impact yields, market reaction to Trumps latest tariff threat will likely continue to dictate risk sentiment. The U.S President would need to change his stance on tariffs or China would need to agree to get the ball rolling to prevent a further pullback in Treasury yields and ultimately mortgage rates On the monetary policy front, FOMC member chatter will also have an impact. This article was originally posted on FX Empire More From FXEMPIRE: Silver Weekly Price Forecast Silver find plenty of buyers after initially dipping this week In the Topsy Turvy World of Crypto, the Bitcoin Bulls Take the Week Natural Gas Price Fundamental Weekly Forecast In Position to Challenge Psychological $2.00 Level The Week Ahead: Brexit, Central Banks, Trade and Stats in Focus Dollar Index Retreats From 2-Year High As Chances of September Fed Rate Cut Jump AUD/USD Forex Technical Analysis Strengthens Over .6819, Weakens Under .6763 \|\| AUD/USD Forex Technical Analysis Strengthens Over .6819, Weakens Under .6763: The Australian Dollar closed slightly lower on Friday as the currency rebounded from an earlier test of the low of the year as news of slower U.S. payrolls growth in July fueled expectations that the Federal Reserve would cut interest rates again in September. Gains were likely capped by heightened U.S.-China trade tensions that drove down demand for commodity-linked currencies. On Friday, the AUD/USD settled at .6801, down 0.0001 or 0.02%. This was up from an intraday low of .6763. The previous low of the year was .6764, hit on July 3, 2019. Daily AUD/USD Swing Chart Daily Swing Chart Technical Analysis The main trend is down according to the daily swing chart. A trade through .6763 will signal a resumption of the downtrend. The daily chart is wide open under this level with the next major bottom the March 3, 2009 main bottom at .6285. This is followed by the February 2, 2009 main bottom at .6247. The November 20, 2008 main bottom at .6074 and the October 27, 2008 main bottom at .6008. Fridays price action suggests that aggressive counter-trend buyers were trying to form a closing price reversal bottom, but fell short at the close. This doesnt mean the trend is getting ready to turn to up, but there is the possibility of a short-term shift in momentum to the upside. The current short-term range is .7082 to .6763. If the market is able to generate enough upside momentum over the near-term, we could see an eventual rally into its retracement zone at .6923 to .6960. Daily Swing Chart Technical Forecast The offsetting fundamentals are making a forecast difficult. Furthermore, the hedge funds are net short and looking for more downside especially since there is no real support under .6764 until .6285 to .6008. On the bearish side, the Reserve Bank of Australia (RBA) is expected to cut rates in October, however, before that, the Federal Reserve is widely expected to cut rates again in September. Additionally, the new tariffs on China are expected to kick in on September and traders are still waiting for countermeasures by China. Story continues The first sign that the selling is getting weaker will be a move through .6819. This will make .6763 a new minor bottom. This move will not necessarily mean that new buyers are driving the price action. In fact, we anticipate that there are a lot of shorts that have to be cleared out before real buyers will emerge. Were looking to play momentum on Monday with an upside bias expected to form on a sustained move over .6819 and the downside bias to continue on a sustained move under .6763. This article was originally posted on FX Empire More From FXEMPIRE: AUD/USD Forex Technical Analysis Strengthens Over .6819, Weakens Under .6763 Silver Weekly Price Forecast Silver find plenty of buyers after initially dipping this week Crude Oil Weekly Price Forecast Crude oil markets continue to look confused Gold Price Prediction Prices Remain Near 6-Year Highs Following US Jobs Report Forex Daily Recap DXY Slipped over Weak US June Trade Balance Bitcoin Cash ABC, Litecoin and Ripple Daily Analysis 03/08/19 \|\| AUD/USD Forex Technical Analysis – Strengthens Over .6819, Weakens Under .6763: The Australian Dollar closed slightly lower on Friday as the currency rebounded from an earlier test of the low of the year as news of slower U.S. payrolls growth in July fueled expectations that the Federal Reserve would cut interest rates again in September. Gains were likely capped by heightened U.S.-China trade tensions that drove down demand for commodity-linked currencies. On Friday, theAUD/USDsettled at .6801, down 0.0001 or 0.02%. This was up from an intraday low of .6763. The previous low of the year was .6764, hit on July 3, 2019. The main trend is down according to the daily swing chart. A trade through .6763 will signal a resumption of the downtrend. The daily chart is wide open under this level with the next major bottom the March 3, 2009 main bottom at .6285. This is followed by the February 2, 2009 main bottom at .6247. The November 20, 2008 main bottom at .6074 and the October 27, 2008 main bottom at .6008. Friday’s price action suggests that aggressive counter-trend buyers were trying to form a closing price reversal bottom, but fell short at the close. This doesn’t mean the trend is getting ready to turn to up, but there is the possibility of a short-term shift in momentum to the upside. The current short-term range is .7082 to .6763. If the market is able to generate enough upside momentum over the near-term, we could see an eventual rally into its retracement zone at .6923 to .6960. The offsetting fundamentals are making a forecast difficult. Furthermore, the hedge funds are net short and looking for more downside especially since there is no real support under .6764 until .6285 to .6008. On the bearish side, the Reserve Bank of Australia (RBA) is expected to cut rates in October, however, before that, the Federal Reserve is widely expected to cut rates again in September. Additionally, the new tariffs on China are expected to kick in on September and traders are still waiting for countermeasures by China. The first sign that the selling is getting weaker will be a move through .6819. This will make .6763 a new minor bottom. This move will not necessarily mean that new buyers are driving the price action. In fact, we anticipate that there are a lot of shorts that have to be cleared out before real buyers will emerge. We’re looking to play momentum on Monday with an upside bias expected to form on a sustained move over .6819 and the downside bias to continue on a sustained move under .6763. Thisarticlewas originally posted on FX Empire • AUD/USD Forex Technical Analysis – Strengthens Over .6819, Weakens Under .6763 • Silver Weekly Price Forecast – Silver find plenty of buyers after initially dipping this week • Crude Oil Weekly Price Forecast – Crude oil markets continue to look confused • Gold Price Prediction – Prices Remain Near 6-Year Highs Following US Jobs Report • Forex Daily Recap – DXY Slipped over Weak US June Trade Balance • Bitcoin Cash – ABC, Litecoin and Ripple Daily Analysis – 03/08/19 \|\| In the Topsy Turvy World of Crypto, the Bitcoin Bulls Take the Week: It’s been a bullish start to the month of August for Bitcoin and the majors, as the bulls reverse last week’s losses. Bitcoin rose by 2.88% on Saturday. Following on from a 1.15% gain on Friday, Bitcoin ended the day at $10,822. A particularly bullish morning saw Bitcoin rally from an early intraday low $10,506 to late morning high $10,845. Steering clear of the major support levels, Bitcoin broke through the first major resistance level at $10,675.67 and second major resistance level at $10,831.33. A pullback to $10,700 levels was short-lived, with Bitcoin bouncing back to a late intraday high $10,917. In spite of the bounce back, Bitcoin continued to fall short of $11,000 levels, leading to a pullback to $10,800 levels late in the day. For the current week, 5 consecutive days in the green have given Bitcoin a 13.7% gain Monday through Saturday. Across the rest of the top 10 cryptos, it was a mixed bag on Saturday. Bucking the trend on the day were Binance Coin and Litecoin, which fell by 1.32% and by 0.72% respectively. It was green for the rest of the pack, however, with Bitcoin Cash ABC leading the way, rising by 3.57% on the day. EOS and Ethereum also saw solid gains on the day, with the pair up by 2.5% and 1.96% respectively. It was relatively lackluster for the rest of the majors, however. For the current week, Steller’s Lumen and Tron’s TRX struggled, with the pair down by 3.27% and 2.16% respectively. For the rest of the pack, it’s been a relatively bullish week. Trailing Bitcoin, Bitcoin Cash ABC was the best of the rest, rallying by 9.03%. Ethereum and Litecoin also found strong support, with the pair up by 5.03% and 4.54% respectively. Also in the green, but facing the prospects of a weekly loss were Bitcoin Cash SV and Ripple’s XRP, which were up by 1.52% and 1.43% respectively. In crypto terms, it was a relative non-event for the rest of the pack, however. EOS and Binance Coin were up by just 0.25% and 0.04% respectively. At the time of writing, Bitcoin was down by 0.71% to $10,745. A mixed start to the day saw Bitcoin strike an early morning high $10,916 before falling to a low $10,713. In spite of the choppy morning, Bitcoin left the major support and resistance levels untested early on. Elsewhere, there were no early trend buckers. Litecoin and Bitcoin Cash ABC saw the heaviest losses early on, with the pair down by 2.85% and 2.56% respectively. Bitcoin Cash SV wasn’t far behind with a 2.01% loss at the time of writing. Across the majors, Ripple’s XRP (-0.64%) and Steller’s Lumen (-0.75%) saw the most modest losses early on. Bitcoin would need to move back through to $10,750 levels to support another run at the first major resistance level at $10,990.67. Barring a broad-based crypto rebound, however, Bitcoin would likely continue to come up short of $11,000 levels. In the event of a breakthrough to $11,000 levels, the second major resistance level at $11,159.33 would likely pin back any breakout. Failure to move back through to $10,750 levels could see Bitcoin slide deeper into the red. A fall through the morning low $10,713.1 to sub-$10,700 levels would bring the first major support level at $10,579.67 into play. Barring an extended sell-off through the day, Bitcoin would likely steer clear of the second major support level at $10,337.33. Get Into Cryptocurrency Trading Today Thisarticlewas originally posted on FX Empire • Bitcoin Cash – ABC, Litecoin and Ripple Daily Analysis – 04/08/19 • Commodity-Linked Aussie, Kiwi Tumble as Money Flows into Safe-Haven Yen • Natural Gas Weekly Price Forecast – Natural gas markets show signs of weakness yet again • U.S Mortgage Rates – Hold Steady But Could Be in for a Slide • Crude Oil Weekly Price Forecast – Crude oil markets continue to look confused • Dollar Index Retreats From 2-Year High As Chances of September Fed Rate Cut Jump \|\| In the Topsy Turvy World of Crypto, the Bitcoin Bulls Take the Week: It’s been a bullish start to the month of August for Bitcoin and the majors, as the bulls reverse last week’s losses. Bitcoin rose by 2.88% on Saturday. Following on from a 1.15% gain on Friday, Bitcoin ended the day at $10,822. A particularly bullish morning saw Bitcoin rally from an early intraday low $10,506 to late morning high $10,845. Steering clear of the major support levels, Bitcoin broke through the first major resistance level at $10,675.67 and second major resistance level at $10,831.33. A pullback to $10,700 levels was short-lived, with Bitcoin bouncing back to a late intraday high $10,917. In spite of the bounce back, Bitcoin continued to fall short of $11,000 levels, leading to a pullback to $10,800 levels late in the day. For the current week, 5 consecutive days in the green have given Bitcoin a 13.7% gain Monday through Saturday. Across the rest of the top 10 cryptos, it was a mixed bag on Saturday. Bucking the trend on the day were Binance Coin and Litecoin, which fell by 1.32% and by 0.72% respectively. It was green for the rest of the pack, however, with Bitcoin Cash ABC leading the way, rising by 3.57% on the day. EOS and Ethereum also saw solid gains on the day, with the pair up by 2.5% and 1.96% respectively. It was relatively lackluster for the rest of the majors, however. For the current week, Steller’s Lumen and Tron’s TRX struggled, with the pair down by 3.27% and 2.16% respectively. For the rest of the pack, it’s been a relatively bullish week. Trailing Bitcoin, Bitcoin Cash ABC was the best of the rest, rallying by 9.03%. Ethereum and Litecoin also found strong support, with the pair up by 5.03% and 4.54% respectively. Also in the green, but facing the prospects of a weekly loss were Bitcoin Cash SV and Ripple’s XRP, which were up by 1.52% and 1.43% respectively. In crypto terms, it was a relative non-event for the rest of the pack, however. EOS and Binance Coin were up by just 0.25% and 0.04% respectively. At the time of writing, Bitcoin was down by 0.71% to $10,745. A mixed start to the day saw Bitcoin strike an early morning high $10,916 before falling to a low $10,713. In spite of the choppy morning, Bitcoin left the major support and resistance levels untested early on. Elsewhere, there were no early trend buckers. Litecoin and Bitcoin Cash ABC saw the heaviest losses early on, with the pair down by 2.85% and 2.56% respectively. Bitcoin Cash SV wasn’t far behind with a 2.01% loss at the time of writing. Across the majors, Ripple’s XRP (-0.64%) and Steller’s Lumen (-0.75%) saw the most modest losses early on. Bitcoin would need to move back through to $10,750 levels to support another run at the first major resistance level at $10,990.67. Barring a broad-based crypto rebound, however, Bitcoin would likely continue to come up short of $11,000 levels. In the event of a breakthrough to $11,000 levels, the second major resistance level at $11,159.33 would likely pin back any breakout. Failure to move back through to $10,750 levels could see Bitcoin slide deeper into the red. A fall through the morning low $10,713.1 to sub-$10,700 levels would bring the first major support level at $10,579.67 into play. Barring an extended sell-off through the day, Bitcoin would likely steer clear of the second major support level at $10,337.33. Get Into Cryptocurrency Trading Today Thisarticlewas originally posted on FX Empire • Bitcoin Cash – ABC, Litecoin and Ripple Daily Analysis – 04/08/19 • Commodity-Linked Aussie, Kiwi Tumble as Money Flows into Safe-Haven Yen • Natural Gas Weekly Price Forecast – Natural gas markets show signs of weakness yet again • U.S Mortgage Rates – Hold Steady But Could Be in for a Slide • Crude Oil Weekly Price Forecast – Crude oil markets continue to look confused • Dollar Index Retreats From 2-Year High As Chances of September Fed Rate Cut Jump \|\| In the Topsy Turvy World of Crypto, the Bitcoin Bulls Take the Week: It’s been a bullish start to the month of August for Bitcoin and the majors, as the bulls reverse last week’s losses. Bitcoin rose by 2.88% on Saturday. Following on from a 1.15% gain on Friday, Bitcoin ended the day at $10,822. A particularly bullish morning saw Bitcoin rally from an early intraday low $10,506 to late morning high $10,845. Steering clear of the major support levels, Bitcoin broke through the first major resistance level at $10,675.67 and second major resistance level at $10,831.33. A pullback to $10,700 levels was short-lived, with Bitcoin bouncing back to a late intraday high $10,917. In spite of the bounce back, Bitcoin continued to fall short of $11,000 levels, leading to a pullback to $10,800 levels late in the day. For the current week, 5 consecutive days in the green have given Bitcoin a 13.7% gain Monday through Saturday. The Rest of the Pack Across the rest of the top 10 cryptos, it was a mixed bag on Saturday. Bucking the trend on the day were Binance Coin and Litecoin, which fell by 1.32% and by 0.72% respectively. It was green for the rest of the pack, however, with Bitcoin Cash ABC leading the way, rising by 3.57% on the day. EOS and Ethereum also saw solid gains on the day, with the pair up by 2.5% and 1.96% respectively. It was relatively lackluster for the rest of the majors, however. For the current week, Steller’s Lumen and Tron’s TRX struggled, with the pair down by 3.27% and 2.16% respectively. For the rest of the pack, it’s been a relatively bullish week. Trailing Bitcoin, Bitcoin Cash ABC was the best of the rest, rallying by 9.03%. Ethereum and Litecoin also found strong support, with the pair up by 5.03% and 4.54% respectively. Also in the green, but facing the prospects of a weekly loss were Bitcoin Cash SV and Ripple’s XRP, which were up by 1.52% and 1.43% respectively. In crypto terms, it was a relative non-event for the rest of the pack, however. EOS and Binance Coin were up by just 0.25% and 0.04% respectively. Story continues This Morning At the time of writing, Bitcoin was down by 0.71% to $10,745. A mixed start to the day saw Bitcoin strike an early morning high $10,916 before falling to a low $10,713. In spite of the choppy morning, Bitcoin left the major support and resistance levels untested early on. Elsewhere, there were no early trend buckers. Litecoin and Bitcoin Cash ABC saw the heaviest losses early on, with the pair down by 2.85% and 2.56% respectively. Bitcoin Cash SV wasn’t far behind with a 2.01% loss at the time of writing. Across the majors, Ripple’s XRP (-0.64%) and Steller’s Lumen (-0.75%) saw the most modest losses early on. For the Day Ahead Bitcoin would need to move back through to $10,750 levels to support another run at the first major resistance level at $10,990.67. Barring a broad-based crypto rebound, however, Bitcoin would likely continue to come up short of $11,000 levels. In the event of a breakthrough to $11,000 levels, the second major resistance level at $11,159.33 would likely pin back any breakout. Failure to move back through to $10,750 levels could see Bitcoin slide deeper into the red. A fall through the morning low $10,713.1 to sub-$10,700 levels would bring the first major support level at $10,579.67 into play. Barring an extended sell-off through the day, Bitcoin would likely steer clear of the second major support level at $10,337.33. Get Into Cryptocurrency Trading Today This article was originally posted on FX Empire More From FXEMPIRE: Bitcoin Cash – ABC, Litecoin and Ripple Daily Analysis – 04/08/19 Commodity-Linked Aussie, Kiwi Tumble as Money Flows into Safe-Haven Yen Natural Gas Weekly Price Forecast – Natural gas markets show signs of weakness yet again U.S Mortgage Rates – Hold Steady But Could Be in for a Slide Crude Oil Weekly Price Forecast – Crude oil markets continue to look confused Dollar Index Retreats From 2-Year High As Chances of September Fed Rate Cut Jump \|\| Bitcoin Cash ABC, Litecoin and Ripple Daily Analysis 04/08/19: Bitcoin Cash ABC on the Defensive Bitcoin Cash ABC rallied by 3.57% on Saturday. Reversing a 0.54% fall from Friday, Bitcoin Cash ABC ended the day at $338.67. A particularly bullish morning saw Bitcoin Cash ABC rally from intraday low $327 to an early morning intraday high $347.39. The early rally saw Bitcoin Cash ABC break through the first major resistance level at $333.67 and second major resistance level at $340.2. Easing back through the rest of the day, Bitcoin Cash ABC slipped to $332 levels before a bounce back to $338 levels in the final hour. In spite of the choppy day, Bitcoin Cash ABC left the major support levels untested. At the time of writing, Bitcoin Cash ABC was down by 1.42% to $333.87. A bearish start to the day saw Bitcoin Cash ABC fall from an early morning high $337 to a low $333.87. Bitcoin Cash ABC left the major support and resistance levels untested early on. For the day ahead, a move back through the morning high to $338 levels would support a run at the first major resistance level at $348.37. Bitcoin Cash ABC would need the support of the broader market, however, to break out from the morning high $337. Barring a broad-based crypto rally, Fridays high $347.39 and first major resistance level at $348.37 would likely limit any upside. Failure to move through to $338 levels could see Bitcoin Cash ABC take a bigger hit on the day. A fall through to $329 levels would bring the first major support level at $327.98 into play. Litecoin Back in the Red Litecoin slipped by 0.72% on Saturday. Following on from a 4.1% slide on Friday, Litecoin ended the day at $94.2. A mixed start to the day saw Litecoin recover from a morning low $93.92 to strike an early morning intraday high $96.79. Falling well short of the first major resistance level at $98.47, Litecoin eased back to a late intraday low $93.6. Steering clear of the first major support level at $91.71, Litecoin recovered to $94 levels to limit the downside on the day. At the time of writing, Litecoin was down by 0.59% to $93.64. Another mixed start to the day saw Litecoin rise to a morning high $94.79 before hitting reverse. Falling short of the first major resistance level at $96.13, Litecoin fell to a morning low $93.38 before steadying. In spite of the pullback, Litecoin steered clear of the first major support level at $92.94. For the day ahead, a move through the morning high to $94.9 levels would support another run at the first major resistance level at $96.13. Barring a broad-based crypto rally, the first major resistance level and Saturdays high $96.79 would limit any upside. Story continues Failure to move through to $94.9 levels could see Litecoin slide deeper into the red. A fall back through the morning low $93.38 would bring the first major support level at $92.94 into play. Barring a crypto meltdown, Litecoin should steer clear of sub-$90 levels on the day. Expect the second major support level at $91.67 to come into play in the event of an extended sell-off. Ripples XRP Falls Short of $0.32 Again Ripples XRP gained 1.48% on Saturday. Reversing most of a 1.68% fall from Friday, Ripples XRP ended the day at $0.31595. Bullish through the morning, Ripples XRP rallied from an early intraday low $0.31074 to an early afternoon intraday high $0.31771. Steering clear of the first major support level at $0.3071, Ripples XRP broke through the first major resistance level at $0.3166. Falling short of $0.32 levels for a 2 nd consecutive day, Ripples XRP eased back to $0.314 levels before a late move back to $0.31595. At the time of writing, Ripples XRP was down by 0.19% to $0.31534. Ripples XRP hit an early morning high $0.31706 before falling to a low $0.31462. Ripples XRP left the major support and resistance levels untested early on. For the day ahead, Ripples XRP would need to steer clear of sub-$0.315 levels to support a run at the first major resistance level at $0.3189. Barring a broad-based crypto rebound, however, Ripples XRP would likely continue to fall short of $0.32 levels. Failure to steer clear of sub-$0.315 levels could see Ripples XRP test the first major support level at $0.3119. In the event of an extended sell-off through the day, Ripples XRP could test the second major support level at $0.3078 before any recovery. Ripples XRP should steer clear of the third major support level at $0.3009 and sub-$0.30 levels on the day. Please let us know what you think in the comments below Thanks, Bob This article was originally posted on FX Empire More From FXEMPIRE: S&P 500 Price Forecast Stock markets get hammered Silver Weekly Price Forecast Silver find plenty of buyers after initially dipping this week Oil Price Fundamental Weekly Forecast Weak Dollar Could Be Supportive US Stock Market Overview Stocks Slump on Revisions to Jobs Data Gold Price Prediction Prices Remain Near 6-Year Highs Following US Jobs Report S&P 500 Weekly Price Forecast Stock markets get crushed this week View comments \|\| Bitcoin Cash – ABC, Litecoin and Ripple Daily Analysis – 04/08/19: Bitcoin Cash ABC rallied by 3.57% on Saturday. Reversing a 0.54% fall from Friday, Bitcoin Cash ABC ended the day at $338.67. A particularly bullish morning saw Bitcoin Cash ABC rally from intraday low $327 to an early morning intraday high $347.39. The early rally saw Bitcoin Cash ABC break through the first major resistance level at $333.67 and second major resistance level at $340.2. Easing back through the rest of the day, Bitcoin Cash ABC slipped to $332 levels before a bounce back to $338 levels in the final hour. In spite of the choppy day, Bitcoin Cash ABC left the major support levels untested. At the time of writing, Bitcoin Cash ABC was down by 1.42% to $333.87. A bearish start to the day saw Bitcoin Cash ABC fall from an early morning high $337 to a low $333.87. Bitcoin Cash ABC left the major support and resistance levels untested early on. For the day ahead, a move back through the morning high to $338 levels would support a run at the first major resistance level at $348.37. Bitcoin Cash ABC would need the support of the broader market, however, to break out from the morning high $337. Barring a broad-based crypto rally, Friday’s high $347.39 and first major resistance level at $348.37 would likely limit any upside. Failure to move through to $338 levels could see Bitcoin Cash ABC take a bigger hit on the day. A fall through to $329 levels would bring the first major support level at $327.98 into play. Litecoin slipped by 0.72% on Saturday. Following on from a 4.1% slide on Friday, Litecoin ended the day at $94.2. A mixed start to the day saw Litecoin recover from a morning low $93.92 to strike an early morning intraday high $96.79. Falling well short of the first major resistance level at $98.47, Litecoin eased back to a late intraday low $93.6. Steering clear of the first major support level at $91.71, Litecoin recovered to $94 levels to limit the downside on the day. At the time of writing, Litecoin was down by 0.59% to $93.64. Another mixed start to the day saw Litecoin rise to a morning high $94.79 before hitting reverse. Falling short of the first major resistance level at $96.13, Litecoin fell to a morning low $93.38 before steadying. In spite of the pullback, Litecoin steered clear of the first major support level at $92.94. For the day ahead, a move through the morning high to $94.9 levels would support another run at the first major resistance level at $96.13. Barring a broad-based crypto rally, the first major resistance level and Saturday’s high $96.79 would limit any upside. Failure to move through to $94.9 levels could see Litecoin slide deeper into the red. A fall back through the morning low $93.38 would bring the first major support level at $92.94 into play. Barring a crypto meltdown, Litecoin should steer clear of sub-$90 levels on the day. Expect the second major support level at $91.67 to come into play in the event of an extended sell-off. Ripple’s XRP gained 1.48% on Saturday. Reversing most of a 1.68% fall from Friday, Ripple’s XRP ended the day at $0.31595. Bullish through the morning, Ripple’s XRP rallied from an early intraday low $0.31074 to an early afternoon intraday high $0.31771. Steering clear of the first major support level at $0.3071, Ripple’s XRP broke through the first major resistance level at $0.3166. Falling short of $0.32 levels for a 2ndconsecutive day, Ripple’s XRP eased back to $0.314 levels before a late move back to $0.31595. At the time of writing, Ripple’s XRP was down by 0.19% to $0.31534. Ripple’s XRP hit an early morning high $0.31706 before falling to a low $0.31462. Ripple’s XRP left the major support and resistance levels untested early on. For the day ahead, Ripple’s XRP would need to steer clear of sub-$0.315 levels to support a run at the first major resistance level at $0.3189. Barring a broad-based crypto rebound, however, Ripple’s XRP would likely continue to fall short of $0.32 levels. Failure to steer clear of sub-$0.315 levels could see Ripple’s XRP test the first major support level at $0.3119. In the event of an extended sell-off through the day, Ripple’s XRP could test the second major support level at $0.3078 before any recovery. Ripple’s XRP should steer clear of the third major support level at $0.3009 and sub-$0.30 levels on the day. Please let us know what you think in the comments below Thanks, Bob Thisarticlewas originally posted on FX Empire • S&P 500 Price Forecast – Stock markets get hammered • Silver Weekly Price Forecast – Silver find plenty of buyers after initially dipping this week • Oil Price Fundamental Weekly Forecast – Weak Dollar Could Be Supportive • US Stock Market Overview – Stocks Slump on Revisions to Jobs Data • Gold Price Prediction – Prices Remain Near 6-Year Highs Following US Jobs Report • S&P 500 Weekly Price Forecast – Stock markets get crushed this week \|\| Bitcoin Cash – ABC, Litecoin and Ripple Daily Analysis – 04/08/19: Bitcoin Cash ABC rallied by 3.57% on Saturday. Reversing a 0.54% fall from Friday, Bitcoin Cash ABC ended the day at $338.67. A particularly bullish morning saw Bitcoin Cash ABC rally from intraday low $327 to an early morning intraday high $347.39. The early rally saw Bitcoin Cash ABC break through the first major resistance level at $333.67 and second major resistance level at $340.2. Easing back through the rest of the day, Bitcoin Cash ABC slipped to $332 levels before a bounce back to $338 levels in the final hour. In spite of the choppy day, Bitcoin Cash ABC left the major support levels untested. At the time of writing, Bitcoin Cash ABC was down by 1.42% to $333.87. A bearish start to the day saw Bitcoin Cash ABC fall from an early morning high $337 to a low $333.87. Bitcoin Cash ABC left the major support and resistance levels untested early on. For the day ahead, a move back through the morning high to $338 levels would support a run at the first major resistance level at $348.37. Bitcoin Cash ABC would need the support of the broader market, however, to break out from the morning high $337. Barring a broad-based crypto rally, Friday’s high $347.39 and first major resistance level at $348.37 would likely limit any upside. Failure to move through to $338 levels could see Bitcoin Cash ABC take a bigger hit on the day. A fall through to $329 levels would bring the first major support level at $327.98 into play. Litecoin slipped by 0.72% on Saturday. Following on from a 4.1% slide on Friday, Litecoin ended the day at $94.2. A mixed start to the day saw Litecoin recover from a morning low $93.92 to strike an early morning intraday high $96.79. Falling well short of the first major resistance level at $98.47, Litecoin eased back to a late intraday low $93.6. Steering clear of the first major support level at $91.71, Litecoin recovered to $94 levels to limit the downside on the day. At the time of writing, Litecoin was down by 0.59% to $93.64. Another mixed start to the day saw Litecoin rise to a morning high $94.79 before hitting reverse. Falling short of the first major resistance level at $96.13, Litecoin fell to a morning low $93.38 before steadying. In spite of the pullback, Litecoin steered clear of the first major support level at $92.94. For the day ahead, a move through the morning high to $94.9 levels would support another run at the first major resistance level at $96.13. Barring a broad-based crypto rally, the first major resistance level and Saturday’s high $96.79 would limit any upside. Failure to move through to $94.9 levels could see Litecoin slide deeper into the red. A fall back through the morning low $93.38 would bring the first major support level at $92.94 into play. Barring a crypto meltdown, Litecoin should steer clear of sub-$90 levels on the day. Expect the second major support level at $91.67 to come into play in the event of an extended sell-off. Ripple’s XRP gained 1.48% on Saturday. Reversing most of a 1.68% fall from Friday, Ripple’s XRP ended the day at $0.31595. Bullish through the morning, Ripple’s XRP rallied from an early intraday low $0.31074 to an early afternoon intraday high $0.31771. Steering clear of the first major support level at $0.3071, Ripple’s XRP broke through the first major resistance level at $0.3166. Falling short of $0.32 levels for a 2ndconsecutive day, Ripple’s XRP eased back to $0.314 levels before a late move back to $0.31595. At the time of writing, Ripple’s XRP was down by 0.19% to $0.31534. Ripple’s XRP hit an early morning high $0.31706 before falling to a low $0.31462. Ripple’s XRP left the major support and resistance levels untested early on. For the day ahead, Ripple’s XRP would need to steer clear of sub-$0.315 levels to support a run at the first major resistance level at $0.3189. Barring a broad-based crypto rebound, however, Ripple’s XRP would likely continue to fall short of $0.32 levels. Failure to steer clear of sub-$0.315 levels could see Ripple’s XRP test the first major support level at $0.3119. In the event of an extended sell-off through the day, Ripple’s XRP could test the second major support level at $0.3078 before any recovery. Ripple’s XRP should steer clear of the third major support level at $0.3009 and sub-$0.30 levels on the day. Please let us know what you think in the comments below Thanks, Bob Thisarticlewas originally posted on FX Empire • S&P 500 Price Forecast – Stock markets get hammered • Silver Weekly Price Forecast – Silver find plenty of buyers after initially dipping this week • Oil Price Fundamental Weekly Forecast – Weak Dollar Could Be Supportive • US Stock Market Overview – Stocks Slump on Revisions to Jobs Data • Gold Price Prediction – Prices Remain Near 6-Year Highs Following US Jobs Report • S&P 500 Weekly Price Forecast – Stock markets get crushed this week \|\| Seven reasons why Ethereum is no longer an altcoin: To many people, bitcoin is not only the granddaddy of crypto, it remains the one true coin. Everything else, including Ethereum’s coin, ether, has traditionally been referred to as an alternative coin, or “altcoin.” But is it time for a labelling shake up? While the discussion is not new, new arguments and data suggest that, alone among thousands of altcoins, ether could be in the running for a promotion. Here’s why: 1. Ethereum is the most similar to Bitcoin A new study, from the San Francisco Open Exchange (SFOX,) suggests that “it may no longer be accurate to classify ether as an ‘altcoin,’” because its correlation to bitcoin is significantly higher than bitcoin’s correlations to other coins. In the previous month, according to the study’s author, ether’s correlation to bitcoin was 0.788, whereas Bitcoin Cash scored 0.638, Litecoin, 0.577, Bitcoin SV was 0.619 and Ethereum Classic managed only 0.602. The team concluded that Ethereum is gradually becoming “a blockchain that is publicly recognized as an asset on its own terms, much like B itcoin.” 2. Ethereum is the world’s largest blockchain platform Though bitcoin is the original crypto, Ethereum is the biggest blockchain by volume. There are over 1,600 dapps on the platform, according to a study by dapp.com . Tron, meanwhile, has more active users but Ethererum has twice as many active dapps. 3. Ethereum is second only to Bitcoin in market capitalization (As of July 2019.) 4. Ethereum has the biggest community There are twice as many developers working on Ethereum each month as bitcoin, a ccording to a report by crypto asset management firm Electric Capital . It says approximately 216 developers work on the platform monthly. Crypto news site The Block suggests there are between 250,000 to 350,000 developers building on the platform. 5. Ethereum has the second most-talked about coin after Bitcoin Given how big the developer base and community are, it’s hardly surprising that ether is also the second most talked about coin. A study by Pacific Northwest National Laboratory analyzed cryptocurrency based discussions over on Reddit and found that only bitcoin is discussed more. (Hat tip to Monero, which came in third.) Story continues 6. Ethereum is the most decentralized blockchain platform in existence Analysis tool Ethernodes reports just under 17,000 nodes running the blockchain across six continents. Bitcoin dwarfs that with more than 66,000 , but many of these are concentrated in data centers . 7. Ethereum is the most active smart contract platform Of the top 100 tokens by market cap, 94% are built on top of the platform. Updated to more accurately reflect number and concentration of Bitcoin nodes. \|\| Seven reasons why Ethereum is no longer an altcoin: To many people,bitcoinis not only the granddaddy of crypto, it remains the one true coin. Everything else, including Ethereum’s coin, ether, has traditionally been referred to as an alternative coin, or “altcoin.” But is it time for a labelling shake up? While the discussion is not new, new arguments and data suggest that, alone among thousands of altcoins, ether could be in the running for a promotion. Here’s why: A new study, from theSan Francisco Open Exchange(SFOX,) suggests that “it may no longer be accurate to classify ether as an ‘altcoin,’” because its correlation to bitcoin is significantly higher than bitcoin’s correlations to other coins. In the previous month, according to the study’s author, ether’s correlation to bitcoin was 0.788, whereas Bitcoin Cash scored 0.638, Litecoin, 0.577, Bitcoin SV was 0.619 and Ethereum Classic managed only 0.602. The team concluded that Ethereum is gradually becoming “a blockchain that is publicly recognized as an asset on its own terms, much like Bitcoin.” Though bitcoin is the original crypto, Ethereum is thebiggest blockchainby volume. There are over 1,600 dapps on the platform, according to a study bydapp.com. Tron, meanwhile, has more active users but Ethererum has twice as many active dapps. (As of July 2019.) There are twice as many developers working on Ethereum each month as bitcoin, according to a report by crypto asset management firmElectric Capital. It says approximately 216 developers work on the platform monthly.Crypto news siteThe Blocksuggeststhere are between 250,000 to 350,000 developers building on the platform. Given how big the developer base and community are, it’s hardly surprising that ether is also the second most talked about coin.Astudyby Pacific Northwest National Laboratory analyzed cryptocurrency based discussions over on Reddit and found that only bitcoin is discussed more. (Hat tip to Monero, which came in third.) Analysis toolEthernodesreports just under 17,000 nodes running the blockchain across six continents. Bitcoin dwarfs that with more than66,000, but many of these are concentrated indata centers. Of the top 100 tokens by market cap,94%are built on top of the platform. Updated to more accurately reflect number and concentration of Bitcoin nodes. \|\| Korea’s Shinhan to Offer Blockchain-Based Securities Lending: Shinhan Financial Investment will soon be offering peer-to-peer (P2P) stock lending via the blockchain. When the new service is introduced this year, individuals will be able to borrow and lend securities with other individuals directly, rather than going through an intermediary. TheEconomic Newsand other local Korean media reported the news. Securities lending and borrowing transactions are normally inefficient and expensive for anyone but larger investors. Commissions can be high and accurate information difficult to obtain. With a P2P service, individual owners of stock should be able to easily and cheaply lend their shares directly to others, earning a fee in the process. Individual short sellers will potentially be able to borrow stock from willing counterparties without having to pay exorbitant fees to large institutions. Related:South Korea Declares Partial ‘Regulation-Free’ Zone for Crypto Companies Shinhan Financial Investment, which is a brokerage related to the country’s second largest banking group by assets, is developing the capability in cooperation with Directional, a Korean company that has been permitted by the Financial Service Commission (FSC) to provide stock lending and borrowing as part of the government’s sandbox initiative. Sandboxes, which are being aggressively pushed by the current administration, allow for a temporary lifting of regulations for the testing of innovative technologies and services. Directionalreceived its exception in May under a financial market sandbox programannounced by the FSC in April. No timeframe has been reported for the roll out of the Shinhan offering. Shinhan Bank has been aggressive in its pursuit of blockchain solutions. Two years ago, it started using the technology for the verification of gold bars. Since then, it has utilized it for interest rate swaps and and cross border remittances. In May this year, it was reported that the bank would use the technology forloan verification, enabling customers to electronically submit documents that previously had to be presented on paper, and often in person, and authenticated manually. Like most commercial banks in Korea, Shinhan has been more enthusiastic about blockchain than pure crypto, tracking the official government stance but running counter to customer appetite for coins. Related:Firearm Firm Wins Patent for Integrating Blockchain into ‘Black Box’ for Guns The bank was for a while more positive on crypto and accepted deposits from cryptoexchanges and exchange customers rejected by other banks. But in light of increased scrutiny by the authorities from 2018, and in light of new FATF standards, the bank has upped its surveillance of crypto-connected accounts and is instituting systems and procedures to enforce real-name account requirements and adhere to Know-Your-Customer best practices. Like other banks, it is currently renegotiating its cryptoexchange deposit agreements. While an extension of its contract with Korbit, the local exchange it serves, is expected, nothing is guaranteed given concerns about possible fraud. Image via Shutterstock. • Bitcoin’s Largest Wallet Blockchain Just Launched Its First Crypto Exchange • South Korean Financial Overseer Who Banned ICOs Abruptly Quits [Social Media Buzz] @maxkeiser @tariqnasheed @SkinnerLiber8ed @cryptoblood_ @bitcoinzay Bowel transplantation my mom in the United States is more than 1600000 USD (148.98 BTC).18ZTgN3aRo5fMYP7s86PkKhwsn3wNYCAm3 https://t.co/mNJRhy9J6w \|\| $BTC CNBC: Bitcoin jumps 9% to surge past $11,000 while stocks dive on trade worries https://t.co/ynITtSDRY2 \|\| #Bitcoin continues to climb aggressively anticipating the #madtour4’s next move. https://t.co/qe9fvc57R3 \|\| "This means that #hashrate is a good indicator of the #Bitcoin...	11478.17, 11941.97, 11966.41, 11862.94, 11354.02, 11523.58, 11382.62, 10895.83, 10051.70, 10311.55
Given the historical Bitcoin prices from the last 90 days, predict the next 10 daily closing prices. The historical prices are: 3629.79, 3673.84, 3915.71, 3947.09, 3999.82, 3954.12, 4005.53, 4142.53, 3810.43, 3882.70, 3854.36, 3851.05, 3854.79, 3859.58, 3864.42, 3847.18, 3761.56, 3896.38, 3903.94, 3911.48, 3901.13, 3963.31, 3951.60, 3905.23, 3909.16, 3906.72, 3924.37, 3960.91, 4048.73, 4025.23, 4032.51, 4071.19, 4087.48, 4029.33, 4023.97, 4035.83, 4022.17, 3963.07, 3985.08, 4087.07, 4069.11, 4098.37, 4106.66, 4105.40, 4158.18, 4879.88, 4973.02, 4922.80, 5036.68, 5059.82, 5198.90, 5289.77, 5204.96, 5324.55, 5064.49, 5089.54, 5096.59, 5167.72, 5067.11, 5235.56, 5251.94, 5298.39, 5303.81, 5337.89, 5314.53, 5399.37, 5572.36, 5464.87, 5210.52, 5279.35, 5268.29, 5285.14, 5247.35, 5350.73, 5402.70, 5505.28, 5768.29, 5831.17, 5795.71, 5746.81, 5829.50, 5982.46, 6174.53, 6378.85, 7204.77, 6972.37, 7814.92, 7994.42, 8205.17, 7884.91.	[Bitcoin Technical Analysis for 2019-05-16] Volume: 33167197581, RSI (14-day): 77.95, 50-day EMA: 5718.58, 200-day EMA: 5059.93 [Wider Market Context] Gold Price: 1285.00, Gold RSI: 48.98 Oil Price: 62.87, Oil RSI: 53.37 [Recent News (last 7 days)] Crypto Exchange Seed CX Adds Support for Three Stablecoins: Chicago-based crypto exchange Seed CX has announced support for stablecoins Paxos (PAX), USD Coin (USDC), and TrueUSD (TUSD) in a press release on May 14. The new stablecoin additions can be traded for U.S. dollars starting May 17, and the exchange is aiming to roll out trading pairs between the stablecoins and other fiat currencies such as the euro in the near future. Seed CX CEO Edward Woodford commented on the impetus to add stablecoin options: “Stablecoins are important in the ecosystem as they increase the velocity of movement of fiat equivalent assets 24/7 and had been requested by a number of our trading participants.” For margin trading, the press release states that these three stablecoins can be used as collateral with a minimum holding requirement of 10%, which allows investors to trade up to 1,000% of the value for their current stablecoin holdings. As recently reported by Cointelegraph, major crypto exchange Binance looks like it will be rolling out support for margin trading for nine trading pairs. While not yet confirmed, the public Application Programming Interface ( API) has been recently updated to include the variables “isSpotTradingAllowed” and is “isMarginTradingAllowed.” A Reddit user observed at the outset of May that second variable check is now true for nine pairs: BTC /USDT, BNB/BTC, BNB/USDT, ETH /BTC, ETH/USDT, TRX/BTC, TRX/USDT, XRP /BTC, XRP/USDT. Binance CEO CZ linked to the post in an official twitter post , saying “Crowd intelligence is amazing.” Related Articles: Polychain CEO Says Facebook’s Rumored Stablecoin Blockchain Should Be Public Reserve CEO Predicts Central Banks Will Tokenize, Still Room for Stablecoins HBUS Survey: Almost 12% of US Cryptocurrency Holders Are Long-Term Investors New Ernst & Young Report Reveals Assets and Debts of Now-Defunct QuadrigaCX \|\| Crypto Exchange Seed CX Adds Support for Three Stablecoins: Chicago-based crypto exchange Seed CX has announced support for stablecoins Paxos (PAX), USD Coin (USDC), and TrueUSD (TUSD) in a press release on May 14. The new stablecoin additions can be traded for U.S. dollars starting May 17, and the exchange is aiming to roll out trading pairs between the stablecoins and other fiat currencies such as the euro in the near future. Seed CX CEO Edward Woodford commented on the impetus to add stablecoin options: “Stablecoins are important in the ecosystem as they increase the velocity of movement of fiat equivalent assets 24/7 and had been requested by a number of our trading participants.” For margin trading, the press release states that these three stablecoins can be used as collateral with a minimum holding requirement of 10%, which allows investors to trade up to 1,000% of the value for their current stablecoin holdings. As recently reported by Cointelegraph, major crypto exchange Binance looks like it will be rolling out support for margin trading for nine trading pairs. While not yet confirmed, the public Application Programming Interface ( API) has been recently updated to include the variables “isSpotTradingAllowed” and is “isMarginTradingAllowed.” A Reddit user observed at the outset of May that second variable check is now true for nine pairs: BTC /USDT, BNB/BTC, BNB/USDT, ETH /BTC, ETH/USDT, TRX/BTC, TRX/USDT, XRP /BTC, XRP/USDT. Binance CEO CZ linked to the post in an official twitter post , saying “Crowd intelligence is amazing.” Related Articles: Polychain CEO Says Facebook’s Rumored Stablecoin Blockchain Should Be Public Reserve CEO Predicts Central Banks Will Tokenize, Still Room for Stablecoins HBUS Survey: Almost 12% of US Cryptocurrency Holders Are Long-Term Investors New Ernst & Young Report Reveals Assets and Debts of Now-Defunct QuadrigaCX \|\| Snot-Nosed Kid’s Insane Boast Evokes Scary Memories of Bitcoin Bubble: ByCCN: Erik Finmandeclared bitcoin “dead” less than six months ago. Now he says that anyone who buys and holds cryptocurrencies for the next 10 years has a good chance of becoming fabulously wealthy. He “doubled down”on the statement to MarketWatch, saying that people who haven’t become billionaires using the buy and hold strategy in a decade have only themselves to blame. “I believe that you could be a millionaire by investing in blockchain and bitcoin. I will double down on that and say that if you’re not a billionaire in the next 10 years, it’s your own fault.” Finman invested inbitcoinas a young teenager after learning about it from his brother. He famously made a bet with his parents that if he was not a millionaire by age 18, he would go to college. But if he was, they would drop the issue. He’s reportedly worth more than $3.5 million in bitcoin alone. HisBitcoin CashandBitcoin SVholdings have some value as well, but he’s never spoken to the “airdropped” coins. In a moment of clarity and drama-free exposition,Craig Wrightrecently wrote about people who believe they will become rich without work. Wrightsaid: “We are at such a point today. We are at the critical stage, but we have moved from stock tips to crypto assets. Now, we find hot dog vendors, the homeless, and the flim-flam men peddling illegal exchanges and talking about money to be made, wealth that cannot be avoided, and riches without work.” Other than having made a wise (lucky?) decision when he was very young, the whole story of which is questionable, Finman’s opinion of cryptocurrency is entirely unqualified. Read the full story on CCN.com. \|\| Snot-Nosed Kid’s Insane Boast Evokes Scary Memories of Bitcoin Bubble: ByCCN: Erik Finmandeclared bitcoin “dead” less than six months ago. Now he says that anyone who buys and holds cryptocurrencies for the next 10 years has a good chance of becoming fabulously wealthy. He “doubled down”on the statement to MarketWatch, saying that people who haven’t become billionaires using the buy and hold strategy in a decade have only themselves to blame. “I believe that you could be a millionaire by investing in blockchain and bitcoin. I will double down on that and say that if you’re not a billionaire in the next 10 years, it’s your own fault.” Finman invested inbitcoinas a young teenager after learning about it from his brother. He famously made a bet with his parents that if he was not a millionaire by age 18, he would go to college. But if he was, they would drop the issue. He’s reportedly worth more than $3.5 million in bitcoin alone. HisBitcoin CashandBitcoin SVholdings have some value as well, but he’s never spoken to the “airdropped” coins. In a moment of clarity and drama-free exposition,Craig Wrightrecently wrote about people who believe they will become rich without work. Wrightsaid: “We are at such a point today. We are at the critical stage, but we have moved from stock tips to crypto assets. Now, we find hot dog vendors, the homeless, and the flim-flam men peddling illegal exchanges and talking about money to be made, wealth that cannot be avoided, and riches without work.” Other than having made a wise (lucky?) decision when he was very young, the whole story of which is questionable, Finman’s opinion of cryptocurrency is entirely unqualified. Read the full story on CCN.com. \|\| Snot-Nosed Kid’s Insane Boast Evokes Scary Memories of Bitcoin Bubble: Erik Finman is a teenage bitcoin millionaire who believes that any 'hodlers' who aren't similarly wealthy in 10 years only have themselves to blame.\| Source: Shutterstock By CCN : Erik Finman declared bitcoin “dead” less than six months ago . Now he says that anyone who buys and holds cryptocurrencies for the next 10 years has a good chance of becoming fabulously wealthy. The Confidence of Easy Money He “doubled down” on the statement to MarketWatch , saying that people who haven’t become billionaires using the buy and hold strategy in a decade have only themselves to blame. “I believe that you could be a millionaire by investing in blockchain and bitcoin. I will double down on that and say that if you’re not a billionaire in the next 10 years, it’s your own fault.” Finman invested in bitcoin as a young teenager after learning about it from his brother. He famously made a bet with his parents that if he was not a millionaire by age 18, he would go to college. But if he was, they would drop the issue. He’s reportedly worth more than $3.5 million in bitcoin alone. His Bitcoin Cash and Bitcoin SV holdings have some value as well, but he’s never spoken to the “airdropped” coins. In a moment of clarity and drama-free exposition, Craig Wright recently wrote about people who believe they will become rich without work. Wright said : “We are at such a point today. We are at the critical stage, but we have moved from stock tips to crypto assets. Now, we find hot dog vendors, the homeless, and the flim-flam men peddling illegal exchanges and talking about money to be made, wealth that cannot be avoided, and riches without work.” Other than having made a wise (lucky?) decision when he was very young, the whole story of which is questionable, Finman’s opinion of cryptocurrency is entirely unqualified. Read the full story on CCN.com . \|\| Berkshire Hathaway Reveals Sizable Position In Amazon: This article was originally published on ETFTrends.com. U.S. markets closed up across the board on Thursday. The communications sector was a leader in the gains, with Amazon (AMZN) stock closed up 1.69%, possibly due to the release that Warren Buffet’s Berkshire Hathaway has been buying shares in Amazon to the tune of almost a billion dollars. Berkshire’s stake in Amazon was 483,300 shares at the end of the quarter ended March 31, according to a filing at the Securities and Exchange Commission. The value of that stake was $904 million by the closing bell Wednesday. The news of Berkshire Hathaway's interest in Amazon first came to be market news almost two weeks ago, on May 2, a day before Berkshire’s annual shareholder meeting in Omaha, Nebraska. The size of the position had yet to be revealed to the public however. “One of the fellows in the office that manage money … bought some Amazon so it will show up in the 13F” later this month, Buffett told CNBC at that time. Buffett was referring to either Todd Combs or Ted Weschler, who each manage portfolios of more than $13 billion in equities for Berkshire. Combs and Weschler have gradually taken on an increasingly prominent role in Berkshire, as Buffet looks to step back from the magnitude of his obligations. Combs and Weschler each manage $13 billion of Berkshire’s approximately $173 billion portfolio. "The two people that, one of whom made the investment in Amazon, they are looking at hundreds of securities," Buffett said at the meeting. "Because they are managing less money in their universe, they are looking for things that they feel they understand what will be developed by that business between now and judgment day." Berkshire’s interest in Amazon didn't progress completely out of the blue though. When asked in 2017 on CNBC’s Squawk Box why he hasn’t invested in Amazon shares yet, Buffett gave a one word answer: “Stupidity.” Last year in an interview with CNBC , Warren Buffett said: “The truth is that I’ve watched Amazon from the start and I think what Jeff Bezos has done is something close to a miracle, and the problem is if I think something is going to be a miracle I tend not to bet on it.” Story continues Buffet further added, “Yeah, I’ve been a fan, and I’ve been an idiot for not buying” [Amazon shares.] “But I want you to know it’s no personality changes taking place.” "I always admired Jeff [Bezos]. I met him 20 years ago or so. And I thought he was something special, but I didn't realize you could go from books to what's happened there," Buffett also said in the wide-ranging interview. "He had a vision and executed it in an incredible way.” Amazon shares rose 0.13% in after-hours trading following the SEC filing. For more tech related stories, visit our Innovative ETFs Channel . POPULAR ARTICLES AND RESOURCES FROM ETFTRENDS.COM SPY ETF Quote VOO ETF Quote QQQ ETF Quote VTI ETF Quote JNUG ETF Quote Top 34 Gold ETFs Top 34 Oil ETFs Top 57 Financials ETFs Bitcoin Tear Continues As BTC Breaches $8,000 New Bitcoin ETF Filed as BTC Price Eyes $8K Beyond Meat Up 5.25% Despite Sea of Red Crytocurrency Devotee Sees Bitcoin Tripling by 2021 Universal Basic Income Would Be a Social and Economic Disaster READ MORE AT ETFTRENDS.COM > \|\| Berkshire Hathaway Reveals Sizable Position In Amazon: This article was originally published onETFTrends.com. U.S. markets closed up across the board on Thursday. The communications sector was a leader in the gains, withAmazon (AMZN)stock closed up 1.69%, possibly due to the release that Warren Buffet’s Berkshire Hathaway has been buying shares in Amazon to the tune of almost a billion dollars. Berkshire’s stake in Amazon was 483,300 shares at the end of the quarter ended March 31, according to a filing at the Securities and Exchange Commission. The value of that stake was $904 million by the closing bell Wednesday. The news of Berkshire Hathaway's interest in Amazon first came to be market news almost two weeks ago, on May 2, a day before Berkshire’s annual shareholder meeting in Omaha, Nebraska. The size of the position had yet to be revealed to the public however. “One of the fellows in the office that manage money … bought some Amazon so it will show up in the 13F” later this month, Buffett toldCNBCat that time. Buffett was referring to either Todd Combs or Ted Weschler, who each manage portfolios of more than $13 billion in equities for Berkshire. Combs and Weschler have gradually taken on an increasingly prominent role in Berkshire, as Buffet looks to step back from the magnitude of his obligations. Combs and Weschler each manage $13 billion of Berkshire’s approximately $173 billion portfolio. "The two people that, one of whom made the investment in Amazon, they are looking at hundreds of securities," Buffett said at the meeting. "Because they are managing less money in their universe, they are looking for things that they feel they understand what will be developed by that business between now and judgment day." Berkshire’s interest in Amazon didn't progress completely out of the blue though. When asked in 2017 on CNBC’s Squawk Box why he hasn’t invested in Amazon shares yet, Buffett gave a one word answer: “Stupidity.” Last year in an interviewwith CNBC, Warren Buffett said: “The truth is that I’ve watched Amazon from the start and I think what Jeff Bezos has done is something close to a miracle, and the problem is if I think something is going to be a miracle I tend not to bet on it.” Buffet further added, “Yeah, I’ve been a fan, and I’ve been an idiot for not buying” [Amazon shares.] “But I want you to know it’s no personality changes taking place.” "I always admired Jeff [Bezos]. I met him 20 years ago or so. And I thought he was something special, but I didn't realize you could go from books to what's happened there," Buffett also said in the wide-ranging interview. "He had a vision and executed it in an incredible way.” Amazon shares rose 0.13% in after-hours trading following the SEC filing. For more tech related stories, visit ourInnovative ETFs Channel. POPULAR ARTICLES AND RESOURCES FROM ETFTRENDS.COM • SPY ETF Quote • VOO ETF Quote • QQQ ETF Quote • VTI ETF Quote • JNUG ETF Quote • Top 34 Gold ETFs • Top 34 Oil ETFs • Top 57 Financials ETFs • Bitcoin Tear Continues As BTC Breaches $8,000 • New Bitcoin ETF Filed as BTC Price Eyes $8K • Beyond Meat Up 5.25% Despite Sea of Red • Crytocurrency Devotee Sees Bitcoin Tripling by 2021 • Universal Basic Income Would Be a Social and Economic Disaster READ MORE AT ETFTRENDS.COM > \|\| Bitcoin, Ethereum, Ripple, Bitcoin Cash, Litecoin, EOS, Binance Coin, Stellar, Cardano, TRON: Price Analysis May 15: The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Cointelegraph. Every investment and trading move involves risk, you should conduct your own research when making a decision. Market data is provided by the HitBTC exchange. As the Bitcoin rally picked up momentum, the volume also spiked higher. Bitcoin futures on CME made a new record as the number of traded contracts reached 33,700 on May 13, which was way higher than the previous record of 22,500 contracts that exchanged hands on April 4. While increasing volume is a positive sign, a huge spike in volume can, at times, signal panic buying for the fear of missing out on the gains. This is also a time when a number of rumors will crop up that can result in short-term spikes. One such rumor was that eBay will start accepting cryptocurrencies, but the same was denied by the company. United States crypto exchange and wallet service Coinbase has expanded operations in 50 more countries and has introduced USD Coin (USDC) trading in 85 more countries. While this increases the reach of cryptocurrencies. It also provides an opportunity to the people living in inflation-hit nations to escape devaluation of their fiat currencies. Meanwhile, the U.S. Securities and Exchange Commission has postponed its decision on the Bitcoin exchange-traded fund application by Bitwise Asset Management. Shark Tank's Kevin O'Leary, based on his personal experience in using Bitcoin for a real estate transaction, has termed the coin as a useless form of currency. We believe that as the markets mature, these troubles will be a thing of the past. Hence, people should look into the future rather than dwell in the past. BTC/USD After the sharp run-up of the past few days, Bitcoin ( BTC ) is taking a breather. It is facing some profit booking close to the overhead resistance of $8,496.53. The digital currency can either enter into a consolidation or a correction from these levels. Story continues The first support on the downside is at $7,413.46 and if this level breaks, the slide can extend to the 20-day EMA. We expect one of these supports to stall the pullback. Both the moving averages are trending up, which shows that the BTC/USD pair is in a bullish grip. However, the RSI is deep in overbought territory, which suggests that buying has been overdone in the short term. Traders can keep the stop loss on the remaining long positions at $7,100. We will watch for the next two days and if the bulls fail to push the price above $8,496.53, we will suggest booking profits on the complete position. On the other hand, if the pair breaks out of $8,496.53, it can move up to $10,000. ETH/USD Ethereum ( ETH ) has picked up momentum in the past two days and has risen above our first target objective of $225. Though we like the way it has rallied, still we suggest traders book profits on 30% of their long positions at the current levels to pocket some gains and raise the stop loss on the remaining to $175, just below the 20-day EMA. If the price sustains above $225.49, the stops can again be raised to break even. The next level to watch is the pattern target of $256. If the momentum continues, a rally to $300 is also possible. Both the moving averages are sloping up and the RSI is in the overbought zone. This shows that the bulls are in the drivers seat. Any dip is likely to find support at $200 and below it at the 20-day EMA. Our bullish view will be invalidated if the ETH/USD pair plummets below the 20-day EMA. XRP/USD Ripple ( XRP ) soared on May 14 and broke out of the overhead resistance of $0.33108 and $0.37835. This is a positive sign. It might face some profit booking close to $0.450 from where it might enter into a minor correction or a consolidation. Any dip will find buyers close to $0.37835. We expect this level to hold and the XRP/USD pair to provide traders an opportunity to enter long positions. However, we will wait for a confirmation that the level is holding before proposing a trade in it. On the upside, a breakout of $0.45 can clear the path for a rally to $0.60, with minor resistances at $0.50 and $0.55. At times, trades are missed because of large unexpected moves. It is a good trading strategy to wait for a low-risk entry point with a suitable stop loss and not chase the price higher. BCH/USD Bitcoin Cash ( BCH ) is currently facing selling close to the resistance line of the ascending channel. A pullback to the 20-day EMA is a possibility. With both the moving averages sloping up and the RSI in the overbought zone, the bulls have the upper hand. A breakout and close (UTC time frame) above the channel will be a positive sign and can result in a quick move to $500, followed by a rally to $638.99. The BCH/USD pair has a history of vertical rallies, hence, these targets are achievable. However, if the pair fails to break out of the channel, it might gradually continue to climb higher. It will weaken and slide to the support line of the channel on a breakdown of the 20-day EMA. LTC/USD Litecoin ( LTC ) closed (UTC time frame) above the overhead resistance of $91 on May 14. This completed a cup and handle pattern that triggered our buy recommendation given in the previous analysis. The target level to watch on the upside is $158.91, with a minor resistance at $127.6180. The moving averages have turned up and the RSI is in the overbought zone. This shows that the bulls are in command. For now, the stop loss can be kept at $70. We will watch for the LTC/USD pair to pick up momentum and quickly rally above $102, else the bears will again try to sink the pair back below the breakout level of $91. If the price slips back below $91, it will weaken the breakout. We may close the position if the price sustains below $91. EOS/USD EOS is looking strong as it has broken out of the overhead resistance at $6.0726. It can now climb to the next overhead resistance at $6.8299. If this level is also crossed, the digital currency is likely to pick up momentum. The 20-day EMA has started to slope up and the RSI has reached the overbought zone. This suggests that the bulls have the upper hand. If the EOS/USD pair fails to ascend $6.8299 in the first attempt, it might consolidate near the resistance for a few days or correct toward the 20-day EMA. The trend will turn in favor of the bears if the price slides below the strong support zone of $4.4930$3.8723. BNB/USD Binance Coin ( BNB ) made a new lifetime high on May 13, which failed to sustain. But it has again risen to new highs today. A cryptocurrency that breaks out to new highs with a strong move signals that there is more to come. The BNB/USD pair can now move up to the resistance line where it is likely to face some selling. The pair had turned down thrice from this resistance line, hence, it is an important level to watch out for. Any dip will find support at the 20-day EMA. Both the moving averages are sloping up and the RSI has climbed into the overbought zone. This shows that the path of least resistance is to the upside. However, as we do not find a setup with a good risk to reward ratio, we are not proposing a trade in it. XLM/USD Stellar ( XLM ) has broken out of both the moving averages and the resistance at the long-term downtrend line. This points to an end of the downtrend. There is a minor resistance at $0.13250273 and if this level is crossed, the rally can extend to $0.14861760. We find a developing inverted head and shoulders pattern on the XLM/USD pair. The pattern will complete on a breakout and close (UTC time frame) above $0.14861760. This gives the pair a target objective of $0.22466773, with a minor resistance at $0.17759016. We will wait for the price to sustain above $0.14861760 before suggesting a trade in it. However, if the bulls fail to push the price above $0.14861760, it might dip to the 20-day EMA once again. ADA/USD Cardano ( ADA ) has been gradually inching higher towards the overhead resistance of $0.094256 for the past few days. If the price breaks out and closes (UTC time frame) above $0.094256, it will complete a rounding bottom pattern that has a target objective of $0.161275. The 20-day EMA has started to turn up and the RSI has also climbed into the bullish territory. This suggests that bulls have a minor advantage. The traders can buy on a close (UTC time frame) above $0.094256. We will suggest a stop loss after the trade triggers. On the other hand, if the bulls fail to ascend the overhead resistance of $0.094256, the ADA/USD pair might remain range bound for a few more days. It will turn negative on a break below the recent lows of $0.057898. TRX/USD Tron ( TRX ) has finally broken out of the range. If the bulls sustain the breakout, it will indicate the start of a new uptrend. Therefore, we retain our buy recommendation given in an earlier analysis. As the digital currency had been consolidating for a very long time, we expect the next rally to last long and reach $0.050, with a minor resistance at $0.040. Contrary to our assumption, if the TRX/USD pair fails to sustain above the range, it will extend its consolidation for a few more days. It will weaken on a breakdown of $0.02094452. The trend will turn negative if the bottom of the range at $0.0183 breaks down. Market data is provided by the HitBTC exchange. Charts for analysis are provided by TradingView . Related Articles: Bitcoin, Ethereum, Ripple, Bitcoin Cash, Litecoin, EOS, Binance Coin, Stellar, Cardano, TRON: Price Analysis May 13 Bitcoin, Ethereum, Ripple, Bitcoin Cash, Litecoin, EOS, Binance Coin, Stellar, Cardano, TRON: Price Analysis May 10 Bitcoin, Ethereum, Ripple, Bitcoin Cash, Litecoin, EOS, Binance Coin, Stellar, Cardano, TRON: Price Analysis May 8 Bitcoin, Ethereum, Ripple, Bitcoin Cash, Litecoin, EOS, Binance Coin, Stellar, Cardano, TRON: Price Analysis May 6 \|\| Bitcoin, Ethereum, Ripple, Bitcoin Cash, Litecoin, EOS, Binance Coin, Stellar, Cardano, TRON: Price Analysis May 15: The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Cointelegraph. Every investment and trading move involves risk, you should conduct your own research when making a decision. Market data is provided by theHitBTCexchange. As the Bitcoin rally picked up momentum, the volume also spiked higher. Bitcoin futures on CME made a new record as the number of traded contracts reached33,700on May 13, which was way higher than the previous record of 22,500 contracts that exchanged hands on April 4. While increasing volume is a positive sign, a huge spike in volume can, at times, signal panic buying for the fear of missing out on the gains. This is also a time when a number of rumors will crop up that can result in short-term spikes. One such rumor was thateBaywill start accepting cryptocurrencies, but the same wasdeniedby the company. United Statescrypto exchangeandwalletserviceCoinbasehas expanded operations in 50 more countries and has introduced USD Coin (USDC) trading in85more countries. While this increases the reach of cryptocurrencies. It also provides an opportunity to the people living in inflation-hit nations to escape devaluation of their fiat currencies. Meanwhile, the U.S.Securities and Exchange Commissionhaspostponedits decision on the Bitcoinexchange-traded fundapplication by Bitwise Asset Management. Shark Tank's Kevin O'Leary, based on his personal experience in using Bitcoin for a real estate transaction, has termed the coin as auselessform of currency. We believe that as the markets mature, these troubles will be a thing of the past. Hence, people should look into the future rather than dwell in the past. After the sharp run-up of the past few days, Bitcoin (BTC) is taking a breather. It is facing some profit booking close to the overhead resistance of $8,496.53. The digital currency can either enter into a consolidation or a correction from these levels. The first support on the downside is at $7,413.46 and if this level breaks, the slide can extend to the 20-day EMA. We expect one of these supports to stall the pullback. Both the moving averages are trending up, which shows that theBTC/USDpair is in a bullish grip. However, the RSI is deep in overbought territory, which suggests that buying has been overdone in the short term. Traders can keep the stop loss on the remaininglongpositions at $7,100. We will watch for the next two days and if the bulls fail to push the price above $8,496.53, we will suggest booking profits on the complete position. On the other hand, if the pair breaks out of $8,496.53, it can move up to $10,000. Ethereum (ETH) has picked up momentum in the past two days and has risen above our first target objective of $225. Though we like the way it has rallied, still we suggest traders book profits on 30% of theirlongpositions at the current levels to pocket some gains and raise the stop loss on the remaining to $175, just below the 20-day EMA. If the price sustains above $225.49, the stops can again be raised to break even. The next level to watch is the pattern target of $256. If the momentum continues, a rally to $300 is also possible. Both the moving averages are sloping up and the RSI is in the overbought zone. This shows that the bulls are in the driver’s seat. Any dip is likely to find support at $200 and below it at the 20-day EMA. Our bullish view will be invalidated if theETH/USDpair plummets below the 20-day EMA. Ripple (XRP) soared on May 14 and broke out of the overhead resistance of $0.33108 and $0.37835. This is a positive sign. It might face some profit booking close to $0.450 from where it might enter into a minor correction or a consolidation. Any dip will find buyers close to $0.37835. We expect this level to hold and theXRP/USDpair to provide traders an opportunity to enter long positions. However, we will wait for a confirmation that the level is holding before proposing a trade in it. On the upside, a breakout of $0.45 can clear the path for a rally to $0.60, with minor resistances at $0.50 and $0.55. At times, trades are missed because of large unexpected moves. It is a good trading strategy to wait for a low-risk entry point with a suitable stop loss and not chase the price higher. Bitcoin Cash (BCH) is currently facing selling close to the resistance line of the ascending channel. A pullback to the 20-day EMA is a possibility. With both the moving averages sloping up and the RSI in the overbought zone, the bulls have the upper hand. A breakout and close (UTC time frame) above the channel will be a positive sign and can result in a quick move to $500, followed by a rally to $638.99. TheBCH/USDpair has a history of vertical rallies, hence, these targets are achievable. However, if the pair fails to break out of the channel, it might gradually continue to climb higher. It will weaken and slide to the support line of the channel on a breakdown of the 20-day EMA. Litecoin (LTC) closed (UTC time frame) above the overhead resistance of $91 on May 14. This completed a cup and handle pattern that triggered our buy recommendation given in thepreviousanalysis. The target level to watch on the upside is $158.91, with a minor resistance at $127.6180. The moving averages have turned up and the RSI is in the overbought zone. This shows that the bulls are in command. For now, the stop loss can be kept at $70. We will watch for theLTC/USDpair to pick up momentum and quickly rally above $102, else the bears will again try to sink the pair back below the breakout level of $91. If the price slips back below $91, it will weaken the breakout. We may close the position if the price sustains below $91. EOSis looking strong as it has broken out of the overhead resistance at $6.0726. It can now climb to the next overhead resistance at $6.8299. If this level is also crossed, the digital currency is likely to pick up momentum. The 20-day EMA has started to slope up and the RSI has reached the overbought zone. This suggests that the bulls have the upper hand. If theEOS/USDpair fails to ascend $6.8299 in the first attempt, it might consolidate near the resistance for a few days or correct toward the 20-day EMA. The trend will turn in favor of the bears if the price slides below the strong support zone of $4.4930–$3.8723. Binance Coin (BNB) made a new lifetime high on May 13, which failed to sustain. But it has again risen to new highs today. A cryptocurrency that breaks out to new highs with a strong move signals that there is more to come. TheBNB/USDpair can now move up to the resistance line where it is likely to face some selling. The pair had turned down thrice from this resistance line, hence, it is an important level to watch out for. Any dip will find support at the 20-day EMA. Both the moving averages are sloping up and the RSI has climbed into the overbought zone. This shows that the path of least resistance is to the upside. However, as we do not find a setup with a good risk to reward ratio, we are not proposing a trade in it. Stellar (XLM) has broken out of both the moving averages and the resistance at the long-term downtrend line. This points to an end of the downtrend. There is a minor resistance at $0.13250273 and if this level is crossed, the rally can extend to $0.14861760. We find a developing inverted head and shoulders pattern on theXLM/USDpair. The pattern will complete on a breakout and close (UTC time frame) above $0.14861760. This gives the pair a target objective of $0.22466773, with a minor resistance at $0.17759016. We will wait for the price to sustain above $0.14861760 before suggesting a trade in it. However, if the bulls fail to push the price above $0.14861760, it might dip to the 20-day EMA once again. Cardano (ADA) has been gradually inching higher towards the overhead resistance of $0.094256 for the past few days. If the price breaks out and closes (UTC time frame) above $0.094256, it will complete a rounding bottom pattern that has a target objective of $0.161275. The 20-day EMA has started to turn up and the RSI has also climbed into the bullish territory. This suggests that bulls have a minor advantage. The traders can buy on a close (UTC time frame) above $0.094256. We will suggest a stop loss after the trade triggers. On the other hand, if the bulls fail to ascend the overhead resistance of $0.094256, theADA/USDpair might remain range bound for a few more days. It will turn negative on a break below the recent lows of $0.057898. Tron (TRX) has finally broken out of the range. If the bulls sustain the breakout, it will indicate the start of a new uptrend. Therefore, we retain ourbuyrecommendation given in an earlier analysis. As the digital currency had been consolidating for a very long time, we expect the next rally to last long and reach $0.050, with a minor resistance at $0.040. Contrary to our assumption, if theTRX/USDpair fails to sustain above the range, it will extend its consolidation for a few more days. It will weaken on a breakdown of $0.02094452. The trend will turn negative if the bottom of the range at $0.0183 breaks down. Market data is provided by theHitBTCexchange. Charts for analysis are provided byTradingView. • Bitcoin, Ethereum, Ripple, Bitcoin Cash, Litecoin, EOS, Binance Coin, Stellar, Cardano, TRON: Price Analysis May 13 • Bitcoin, Ethereum, Ripple, Bitcoin Cash, Litecoin, EOS, Binance Coin, Stellar, Cardano, TRON: Price Analysis May 10 • Bitcoin, Ethereum, Ripple, Bitcoin Cash, Litecoin, EOS, Binance Coin, Stellar, Cardano, TRON: Price Analysis May 8 • Bitcoin, Ethereum, Ripple, Bitcoin Cash, Litecoin, EOS, Binance Coin, Stellar, Cardano, TRON: Price Analysis May 6 \|\| Bitcoin, Ethereum, Ripple, Bitcoin Cash, Litecoin, EOS, Binance Coin, Stellar, Cardano, TRON: Price Analysis May 15: The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Cointelegraph. Every investment and trading move involves risk, you should conduct your own research when making a decision. Market data is provided by theHitBTCexchange. As the Bitcoin rally picked up momentum, the volume also spiked higher. Bitcoin futures on CME made a new record as the number of traded contracts reached33,700on May 13, which was way higher than the previous record of 22,500 contracts that exchanged hands on April 4. While increasing volume is a positive sign, a huge spike in volume can, at times, signal panic buying for the fear of missing out on the gains. This is also a time when a number of rumors will crop up that can result in short-term spikes. One such rumor was thateBaywill start accepting cryptocurrencies, but the same wasdeniedby the company. United Statescrypto exchangeandwalletserviceCoinbasehas expanded operations in 50 more countries and has introduced USD Coin (USDC) trading in85more countries. While this increases the reach of cryptocurrencies. It also provides an opportunity to the people living in inflation-hit nations to escape devaluation of their fiat currencies. Meanwhile, the U.S.Securities and Exchange Commissionhaspostponedits decision on the Bitcoinexchange-traded fundapplication by Bitwise Asset Management. Shark Tank's Kevin O'Leary, based on his personal experience in using Bitcoin for a real estate transaction, has termed the coin as auselessform of currency. We believe that as the markets mature, these troubles will be a thing of the past. Hence, people should look into the future rather than dwell in the past. After the sharp run-up of the past few days, Bitcoin (BTC) is taking a breather. It is facing some profit booking close to the overhead resistance of $8,496.53. The digital currency can either enter into a consolidation or a correction from these levels. The first support on the downside is at $7,413.46 and if this level breaks, the slide can extend to the 20-day EMA. We expect one of these supports to stall the pullback. Both the moving averages are trending up, which shows that theBTC/USDpair is in a bullish grip. However, the RSI is deep in overbought territory, which suggests that buying has been overdone in the short term. Traders can keep the stop loss on the remaininglongpositions at $7,100. We will watch for the next two days and if the bulls fail to push the price above $8,496.53, we will suggest booking profits on the complete position. On the other hand, if the pair breaks out of $8,496.53, it can move up to $10,000. Ethereum (ETH) has picked up momentum in the past two days and has risen above our first target objective of $225. Though we like the way it has rallied, still we suggest traders book profits on 30% of theirlongpositions at the current levels to pocket some gains and raise the stop loss on the remaining to $175, just below the 20-day EMA. If the price sustains above $225.49, the stops can again be raised to break even. The next level to watch is the pattern target of $256. If the momentum continues, a rally to $300 is also possible. Both the moving averages are sloping up and the RSI is in the overbought zone. This shows that the bulls are in the driver’s seat. Any dip is likely to find support at $200 and below it at the 20-day EMA. Our bullish view will be invalidated if theETH/USDpair plummets below the 20-day EMA. Ripple (XRP) soared on May 14 and broke out of the overhead resistance of $0.33108 and $0.37835. This is a positive sign. It might face some profit booking close to $0.450 from where it might enter into a minor correction or a consolidation. Any dip will find buyers close to $0.37835. We expect this level to hold and theXRP/USDpair to provide traders an opportunity to enter long positions. However, we will wait for a confirmation that the level is holding before proposing a trade in it. On the upside, a breakout of $0.45 can clear the path for a rally to $0.60, with minor resistances at $0.50 and $0.55. At times, trades are missed because of large unexpected moves. It is a good trading strategy to wait for a low-risk entry point with a suitable stop loss and not chase the price higher. Bitcoin Cash (BCH) is currently facing selling close to the resistance line of the ascending channel. A pullback to the 20-day EMA is a possibility. With both the moving averages sloping up and the RSI in the overbought zone, the bulls have the upper hand. A breakout and close (UTC time frame) above the channel will be a positive sign and can result in a quick move to $500, followed by a rally to $638.99. TheBCH/USDpair has a history of vertical rallies, hence, these targets are achievable. However, if the pair fails to break out of the channel, it might gradually continue to climb higher. It will weaken and slide to the support line of the channel on a breakdown of the 20-day EMA. Litecoin (LTC) closed (UTC time frame) above the overhead resistance of $91 on May 14. This completed a cup and handle pattern that triggered our buy recommendation given in thepreviousanalysis. The target level to watch on the upside is $158.91, with a minor resistance at $127.6180. The moving averages have turned up and the RSI is in the overbought zone. This shows that the bulls are in command. For now, the stop loss can be kept at $70. We will watch for theLTC/USDpair to pick up momentum and quickly rally above $102, else the bears will again try to sink the pair back below the breakout level of $91. If the price slips back below $91, it will weaken the breakout. We may close the position if the price sustains below $91. EOSis looking strong as it has broken out of the overhead resistance at $6.0726. It can now climb to the next overhead resistance at $6.8299. If this level is also crossed, the digital currency is likely to pick up momentum. The 20-day EMA has started to slope up and the RSI has reached the overbought zone. This suggests that the bulls have the upper hand. If theEOS/USDpair fails to ascend $6.8299 in the first attempt, it might consolidate near the resistance for a few days or correct toward the 20-day EMA. The trend will turn in favor of the bears if the price slides below the strong support zone of $4.4930–$3.8723. Binance Coin (BNB) made a new lifetime high on May 13, which failed to sustain. But it has again risen to new highs today. A cryptocurrency that breaks out to new highs with a strong move signals that there is more to come. TheBNB/USDpair can now move up to the resistance line where it is likely to face some selling. The pair had turned down thrice from this resistance line, hence, it is an important level to watch out for. Any dip will find support at the 20-day EMA. Both the moving averages are sloping up and the RSI has climbed into the overbought zone. This shows that the path of least resistance is to the upside. However, as we do not find a setup with a good risk to reward ratio, we are not proposing a trade in it. Stellar (XLM) has broken out of both the moving averages and the resistance at the long-term downtrend line. This points to an end of the downtrend. There is a minor resistance at $0.13250273 and if this level is crossed, the rally can extend to $0.14861760. We find a developing inverted head and shoulders pattern on theXLM/USDpair. The pattern will complete on a breakout and close (UTC time frame) above $0.14861760. This gives the pair a target objective of $0.22466773, with a minor resistance at $0.17759016. We will wait for the price to sustain above $0.14861760 before suggesting a trade in it. However, if the bulls fail to push the price above $0.14861760, it might dip to the 20-day EMA once again. Cardano (ADA) has been gradually inching higher towards the overhead resistance of $0.094256 for the past few days. If the price breaks out and closes (UTC time frame) above $0.094256, it will complete a rounding bottom pattern that has a target objective of $0.161275. The 20-day EMA has started to turn up and the RSI has also climbed into the bullish territory. This suggests that bulls have a minor advantage. The traders can buy on a close (UTC time frame) above $0.094256. We will suggest a stop loss after the trade triggers. On the other hand, if the bulls fail to ascend the overhead resistance of $0.094256, theADA/USDpair might remain range bound for a few more days. It will turn negative on a break below the recent lows of $0.057898. Tron (TRX) has finally broken out of the range. If the bulls sustain the breakout, it will indicate the start of a new uptrend. Therefore, we retain ourbuyrecommendation given in an earlier analysis. As the digital currency had been consolidating for a very long time, we expect the next rally to last long and reach $0.050, with a minor resistance at $0.040. Contrary to our assumption, if theTRX/USDpair fails to sustain above the range, it will extend its consolidation for a few more days. It will weaken on a breakdown of $0.02094452. The trend will turn negative if the bottom of the range at $0.0183 breaks down. Market data is provided by theHitBTCexchange. Charts for analysis are provided byTradingView. • Bitcoin, Ethereum, Ripple, Bitcoin Cash, Litecoin, EOS, Binance Coin, Stellar, Cardano, TRON: Price Analysis May 13 • Bitcoin, Ethereum, Ripple, Bitcoin Cash, Litecoin, EOS, Binance Coin, Stellar, Cardano, TRON: Price Analysis May 10 • Bitcoin, Ethereum, Ripple, Bitcoin Cash, Litecoin, EOS, Binance Coin, Stellar, Cardano, TRON: Price Analysis May 8 • Bitcoin, Ethereum, Ripple, Bitcoin Cash, Litecoin, EOS, Binance Coin, Stellar, Cardano, TRON: Price Analysis May 6 \|\| BetterHash, an attempt to make Bitcoin mining more decentralized: One persistent problem in the Bitcoin ecosystem is the centralization of mining, specifically, in the hands of mining pools. Mining pools are entities through which bitcoin miners combine their computing resources (hash power) to coordinate mining activities. This process provides would-be individual miners with a regular payout of block rewards and transaction fees, as the mining pool rewards miners based on how much hash power they are contributing to the pool, not who was first to find a bitcoin block. Most mining pools are operated by a company or individual running a pool server, which charges miners a percentage of the mining earnings for operators’ work in running pool-mining protocols, maintaining Bitcoin full nodes, and coordinating mining activities. Join Genesis now and continue reading, BetterHash, an attempt to make Bitcoin mining more decentralized ! \|\| BetterHash, an attempt to make Bitcoin mining more decentralized: One persistent problem in the Bitcoin ecosystem is the centralization of mining, specifically, in the hands of mining pools. Mining pools are entities through which bitcoin miners combine their computing resources (hash power) to coordinate mining activities. This process provides would-be individual miners with a regular payout of block rewards and transaction fees, as the mining pool rewards miners based on how much hash power they are contributing to the pool, not who was first to find a bitcoin block. Most mining pools are operated by a company or individual running a pool server, which charges miners a percentage of the mining earnings for operators’ work in running pool-mining protocols, maintaining Bitcoin full nodes, and coordinating mining activities. Join Genesis nowand continue reading,BetterHash, an attempt to make Bitcoin mining more decentralized! \|\| BetterHash, an attempt to make Bitcoin mining more decentralized: One persistent problem in the Bitcoin ecosystem is the centralization of mining, specifically, in the hands of mining pools. Mining pools are entities through which bitcoin miners combine their computing resources (hash power) to coordinate mining activities. This process provides would-be individual miners with a regular payout of block rewards and transaction fees, as the mining pool rewards miners based on how much hash power they are contributing to the pool, not who was first to find a bitcoin block. Most mining pools are operated by a company or individual running a pool server, which charges miners a percentage of the mining earnings for operators’ work in running pool-mining protocols, maintaining Bitcoin full nodes, and coordinating mining activities. Join Genesis nowand continue reading,BetterHash, an attempt to make Bitcoin mining more decentralized! \|\| This app lets you use bitcoin at Whole Foods, Nordstrom and other retailers: As bitcoin soars, retailers are looking to get in on the action. Starting this week big name retailers including Whole Foods (AMZN), Gamestop (GME) and Nordstrom (JWN) will start accepting cryptocurrency as a form of payment in their stores via a new mobile payments app called Spedn by payment network Flexa. Spedn allows consumers to use things such as bitcoin (BTC-USD) and ether (ETH-USD) to make purchases in stores. So how does it work? “You deposit cryptocurrency into it. You display a code that you scan at the register. That’s it,” Flexa co-founder and CEO Tyler Spalding told Yahoo Finance’sOn the Move. Flexa has teamed up with familiar faces for the venture — the Winklevoss twins’ digital currency exchange, Gemini, which custodies and insures all crypto funds that are deposited into the app. The software executes trades and puts quote prices in real time and Gemini locks in quotes and settles it. Flexa just sells the tokens on the exchange and sends ACH payments to the retailer. “The network doesn’t have any risk to volatility whatsoever,” said Spalding, referring to Flexa. Bitcoin (BTC-USD) has been on a tear this year, more than doubling in value to around $8,000. However, the surge is still far from the December 2017 all-time high of nearly $20,000. The unstable nature of the crypto market has made it difficult for some companies to feel comfortable embracing it as a form of payment. “A merchant accepting cryptocurrency natively is very challenging,” Spalding said. “The volume and relevance to merchants is something we are working at.” Kenneth Underwood is a senior producer for Yahoo Finance On the Move. \|\| This app lets you use bitcoin at Whole Foods, Nordstrom and other retailers: As bitcoin soars, retailers are looking to get in on the action. Starting this week big name retailers including Whole Foods ( AMZN ), Gamestop ( GME ) and Nordstrom ( JWN ) will start accepting cryptocurrency as a form of payment in their stores via a new mobile payments app called Spedn by payment network Flexa. Spedn allows consumers to use things such as bitcoin ( BTC-USD ) and ether ( ETH-USD ) to make purchases in stores. This is a Whole Foods Market in Upper Saint Clair, Pa., Wednesday, Aug. 8, 2018. (AP Photo/Gene J. Puskar) So how does it work? “You deposit cryptocurrency into it. You display a code that you scan at the register. That’s it,” Flexa co-founder and CEO Tyler Spalding told Yahoo Finance’s On the Move . Flexa has teamed up with familiar faces for the venture — the Winklevoss twins’ digital currency exchange, Gemini, which custodies and insures all crypto funds that are deposited into the app. The software executes trades and puts quote prices in real time and Gemini locks in quotes and settles it. Flexa just sells the tokens on the exchange and sends ACH payments to the retailer. “The network doesn’t have any risk to volatility whatsoever,” said Spalding, referring to Flexa. Cameron Winklevoss, left, and Tyler Winklevoss attend amfAR's Fashion Week New York Gala at Cipriani Wall Street on Wednesday, Feb. 8, 2017, in New York. (Photo by Evan Agostini/Invision/AP) Bitcoin ( BTC-USD ) has been on a tear this year, more than doubling in value to around $8,000. However, the surge is still far from the December 2017 all-time high of nearly $20,000. The unstable nature of the crypto market has made it difficult for some companies to feel comfortable embracing it as a form of payment. “A merchant accepting cryptocurrency natively is very challenging,” Spalding said. “The volume and relevance to merchants is something we are working at.” Kenneth Underwood is a senior producer for Yahoo Finance On the Move. \|\| Why Bitcoin Isn’t Gold 2.0: Juan Carlos Artigas is director of investment research at the World Gold Council. He authors many of the gold research reports published by the WGC and is an expert on the factors affecting the price of the yellow metal. Artigas argues that gold is a unique asset with characteristics not found in any other asset, including bitcoin specifically and cryptocurrencies more broadly. ETF.com recently spoke up with Artigas to get his views on the bitcoin versus gold debate. (For the flip side of this gold coin debate, read: “‘Drop Gold For Bitcoin”) ETF.com: There has been a push by some cryptocurrency enthusiasts to get investors to drop gold in favor of bitcoin. They're calling bitcoin "gold 2.0,” “digital gold” and such. How do you respond to people who’re trying to get investors to shun gold in favor of bitcoin? Juan Carlos Artigas:That speaks to the misunderstanding on the role gold plays in society, not only in the monetary system but more broadly, as part of our modern culture.Gold has been used as means of exchange and as a currency for millennia—it was backing up global currencies up until 1971. Even today, gold forms an integral part of foreign reserves for central banks around the world in developed and emerging markets. But there's also a large portion of gold that’s used for other purposes, such as in jewelry and technology. In fact, many of the computers used to mine bitcoin rely on gold components to properly function. We certainly agree there’s a lot of innovation and technological changes that’re going to improve many aspects of financial markets—including blockchain technology. But it’s not accurate to say that bitcoin in particular, or any specific token for that matter, is replacing or should replace gold, because they serve very different purposes.I understand why some people may want to use gold as a marketing tool to try and get investors to do something. After all, everybody in the world knows about gold. Tying another asset to gold is a good marketing strategy, but the data doesn’t support the idea of bitcoin replacing gold.ETF.com: What would you point to in order to convince someone that gold’s still superior to bitcoin, or at the least, serves a different purpose than bitcoin? Artigas: If you look at the performance of cryptocurrency tokens over the past five years, there’s been a pattern of very strong rallies and then substantial pullbacks in the price.People claim that these tokens are safe havens, but in Q4 [fourth quarter of 2018], we saw exactly the opposite. When the stock market pulled back, cryptocurrencies were plunging along with it. On the other hand, gold prices increased. Investors need to understand gold is very unique, because it has a dual nature that pretty much no other asset does. On the one hand, there are physical applications— jewelry and technology—that’re positively linked to the expansion of the economy.On the other hand, you have the investment side that’s countercyclical and is linked to investors' use of gold as a way to preserve capital, as a safe haven. This dual nature is very unique to gold. If you look at other assets, you’re not going to find something that behaves like gold from that perspective. ETF.com: You’ve pointed to the fact that gold has acted much more like a safe haven than bitcoin during periods of market turmoil. What about the idea that bitcoin has a leg up on gold because its supply is permanently capped? Artigas:Bitcoin supply may be fixed, but there are more than 2,000 cryptocurrencies out there. Nobody knows if bitcoin is going to be the one that remains instead of ethereum or something else that comes up that has a better program. In the end, the way society ends up using blockchain may be completely different from the perspective of a currency. It may be a different solution even if it's still utilizing tokens. I don't know how bitcoin will look in the future. What I can tell you though, with a good degree of confidence, is that gold will remain an asset that has a very unique set of properties through its dual nature and through its supply-and-demand dynamics, that make it useful for many investors, especially when they’re trying to hedge systemic risks. Bitcoin today may not be what bitcoin is in the future. Cryptocurrencies today aren’t necessarily what cryptocurrencies will be in the future, because they’re still in their infancy, and there's still a lot of stuff in terms of regulation and other considerations that may change the behavior of those investments. Email Sumit Roy [email protected] follow him on Twitter@sumitroy2 Recommended Stories • ProShares Closing 3 ETFs • All ETF Inflows/Outflows Aren’t The Same • Investors Plow Into Treasury ETFs This Week • VanEck Aims To Be Agile Permalink\| © Copyright 2019ETF.com.All rights reserved \|\| Why Bitcoin Isn’t Gold 2.0: Juan Carlos Artigas Juan Carlos Artigas is director of investment research at the World Gold Council. He authors many of the gold research reports published by the WGC and is an expert on the factors affecting the price of the yellow metal. Artigas argues that gold is a unique asset with characteristics not found in any other asset, including bitcoin specifically and cryptocurrencies more broadly. ETF.com recently spoke up with Artigas to get his views on the bitcoin versus gold debate. (For the flip side of this gold coin debate, read: “ ‘Drop Gold For Bitcoin” ) ETF.com: There has been a push by some cryptocurrency enthusiasts to get investors to drop gold in favor of bitcoin. They're calling bitcoin "gold 2.0,” “digital gold” and such. How do you respond to people who’re trying to get investors to shun gold in favor of bitcoin? Juan Carlos Artigas: That speaks to the misunderstanding on the role gold plays in society, not only in the monetary system but more broadly, as part of our modern culture. Gold has been used as means of exchange and as a currency for millennia—it was backing up global currencies up until 1971. Even today, gold forms an integral part of foreign reserves for central banks around the world in developed and emerging markets. But there's also a large portion of gold that’s used for other purposes, such as in jewelry and technology. In fact, many of the computers used to mine bitcoin rely on gold components to properly function. We certainly agree there’s a lot of innovation and technological changes that’re going to improve many aspects of financial markets—including blockchain technology. But it’s not accurate to say that bitcoin in particular, or any specific token for that matter, is replacing or should replace gold, because they serve very different purposes. I understand why some people may want to use gold as a marketing tool to try and get investors to do something. After all, everybody in the world knows about gold. Tying another asset to gold is a good marketing strategy, but the data doesn’t support the idea of bitcoin replacing gold. ETF.com: What would you point to in order to convince someone that gold’s still superior to bitcoin, or at the least, serves a different purpose than bitcoin? Story continues Artigas : If you look at the performance of cryptocurrency tokens over the past five years, there’s been a pattern of very strong rallies and then substantial pullbacks in the price. People claim that these tokens are safe havens, but in Q4 [fourth quarter of 2018], we saw exactly the opposite. When the stock market pulled back, cryptocurrencies were plunging along with it. On the other hand, gold prices increased. Investors need to understand gold is very unique, because it has a dual nature that pretty much no other asset does. On the one hand, there are physical applications— jewelry and technology—that’re positively linked to the expansion of the economy. On the other hand, you have the investment side that’s countercyclical and is linked to investors' use of gold as a way to preserve capital, as a safe haven. This dual nature is very unique to gold. If you look at other assets, you’re not going to find something that behaves like gold from that perspective. ETF.com: You’ve pointed to the fact that gold has acted much more like a safe haven than bitcoin during periods of market turmoil. What about the idea that bitcoin has a leg up on gold because its supply is permanently capped? Artigas: Bitcoin supply may be fixed, but there are more than 2,000 cryptocurrencies out there. Nobody knows if bitcoin is going to be the one that remains instead of ethereum or something else that comes up that has a better program. In the end, the way society ends up using blockchain may be completely different from the perspective of a currency. It may be a different solution even if it's still utilizing tokens. I don't know how bitcoin will look in the future. What I can tell you though, with a good degree of confidence, is that gold will remain an asset that has a very unique set of properties through its dual nature and through its supply-and-demand dynamics, that make it useful for many investors, especially when they’re trying to hedge systemic risks. Bitcoin today may not be what bitcoin is in the future. Cryptocurrencies today aren’t necessarily what cryptocurrencies will be in the future, because they’re still in their infancy, and there's still a lot of stuff in terms of regulation and other considerations that may change the behavior of those investments. Email Sumit Roy at [email protected] or follow him on Twitter @sumitroy2 Recommended Stories ProShares Closing 3 ETFs All ETF Inflows/Outflows Aren’t The Same Investors Plow Into Treasury ETFs This Week VanEck Aims To Be Agile Permalink \| © Copyright 2019 ETF.com. All rights reserved \|\| Why Bitcoin Isn’t Gold 2.0: Juan Carlos Artigas is director of investment research at the World Gold Council. He authors many of the gold research reports published by the WGC and is an expert on the factors affecting the price of the yellow metal. Artigas argues that gold is a unique asset with characteristics not found in any other asset, including bitcoin specifically and cryptocurrencies more broadly. ETF.com recently spoke up with Artigas to get his views on the bitcoin versus gold debate. (For the flip side of this gold coin debate, read: “‘Drop Gold For Bitcoin”) ETF.com: There has been a push by some cryptocurrency enthusiasts to get investors to drop gold in favor of bitcoin. They're calling bitcoin "gold 2.0,” “digital gold” and such. How do you respond to people who’re trying to get investors to shun gold in favor of bitcoin? Juan Carlos Artigas:That speaks to the misunderstanding on the role gold plays in society, not only in the monetary system but more broadly, as part of our modern culture.Gold has been used as means of exchange and as a currency for millennia—it was backing up global currencies up until 1971. Even today, gold forms an integral part of foreign reserves for central banks around the world in developed and emerging markets. But there's also a large portion of gold that’s used for other purposes, such as in jewelry and technology. In fact, many of the computers used to mine bitcoin rely on gold components to properly function. We certainly agree there’s a lot of innovation and technological changes that’re going to improve many aspects of financial markets—including blockchain technology. But it’s not accurate to say that bitcoin in particular, or any specific token for that matter, is replacing or should replace gold, because they serve very different purposes.I understand why some people may want to use gold as a marketing tool to try and get investors to do something. After all, everybody in the world knows about gold. Tying another asset to gold is a good marketing strategy, but the data doesn’t support the idea of bitcoin replacing gold.ETF.com: What would you point to in order to convince someone that gold’s still superior to bitcoin, or at the least, serves a different purpose than bitcoin? Artigas: If you look at the performance of cryptocurrency tokens over the past five years, there’s been a pattern of very strong rallies and then substantial pullbacks in the price.People claim that these tokens are safe havens, but in Q4 [fourth quarter of 2018], we saw exactly the opposite. When the stock market pulled back, cryptocurrencies were plunging along with it. On the other hand, gold prices increased. Investors need to understand gold is very unique, because it has a dual nature that pretty much no other asset does. On the one hand, there are physical applications— jewelry and technology—that’re positively linked to the expansion of the economy.On the other hand, you have the investment side that’s countercyclical and is linked to investors' use of gold as a way to preserve capital, as a safe haven. This dual nature is very unique to gold. If you look at other assets, you’re not going to find something that behaves like gold from that perspective. ETF.com: You’ve pointed to the fact that gold has acted much more like a safe haven than bitcoin during periods of market turmoil. What about the idea that bitcoin has a leg up on gold because its supply is permanently capped? Artigas:Bitcoin supply may be fixed, but there are more than 2,000 cryptocurrencies out there. Nobody knows if bitcoin is going to be the one that remains instead of ethereum or something else that comes up that has a better program. In the end, the way society ends up using blockchain may be completely different from the perspective of a currency. It may be a different solution even if it's still utilizing tokens. I don't know how bitcoin will look in the future. What I can tell you though, with a good degree of confidence, is that gold will remain an asset that has a very unique set of properties through its dual nature and through its supply-and-demand dynamics, that make it useful for many investors, especially when they’re trying to hedge systemic risks. Bitcoin today may not be what bitcoin is in the future. Cryptocurrencies today aren’t necessarily what cryptocurrencies will be in the future, because they’re still in their infancy, and there's still a lot of stuff in terms of regulation and other considerations that may change the behavior of those investments. Email Sumit Roy [email protected] follow him on Twitter@sumitroy2 Recommended Stories • ProShares Closing 3 ETFs • All ETF Inflows/Outflows Aren’t The Same • Investors Plow Into Treasury ETFs This Week • VanEck Aims To Be Agile Permalink\| © Copyright 2019ETF.com.All rights reserved \|\| Indonesia ETFs Fall Behind on Biggest Monthly Trade Deficit on Record: This article was originally published onETFTrends.com. Indonesia country-specific exchange traded funds were among the worst performers Wednesday after the Southeast Asian economy recorded its biggest ever monthly trade deficit in April, revealing its ongoing struggles in a global environment gripped by trade concerns. On Wednesday, theiShares MSCI Indonesia ETF (EIDO) declined 2.1% andVanEck Vectors Indonesia Index ETF (IDX) decreased 2.2%. Meanwhile, the broader MSCI Emerging Markets Index was up around 0.1%. Weighing on Indonesia's equity markets, Statistics Indonesia revealed the value of goods shipped from the country to the rest of the world plunged by 13.1% year-over-year in April, compared to economists' expectations of a 7.2% fall, theFinancial Timesreports. Meanwhile, imports for the month slipped by just 6.6% year-over-year, compared to forecasts for a 12.1% decline. The resulting disparity between imports and exports pushed Southeast Asia's biggest economy's monthly trade deficit to $2.5 billion, Indonesia's biggest shortfall since it started recording data since 1950. The wide trade deficit “may exert additional pressure on the Indonesian rupiah although the central bank has pledged to support the currency,” economists at ING said prior to the data release, adding that Jakarta has been trying to hold onto a surplus with policies intended to limit imports. Indonesia is a major exporter of commodities, including palm oil and coal. Prices on these raw materials have slipped this year on rising speculation of a global slowdown in response to increased trade barriers, notably between the U.S. and China. Bahana Sekuritas warned that Indonesia may be caught between U.S. and China as trade talks or lack there of continues. The Southeast Asian country is a major supplier of coal, rubber and forestry products to both countries. Further weighing on Indonesian markets, data published last week also revealed the economy grew at a slower pace than expected over the first quarter, which was partially attributed to the weakening export sector. For more information on the Indonesian market, visit ourIndonesia category. POPULAR ARTICLES AND RESOURCES FROM ETFTRENDS.COM • SPY ETF Quote • VOO ETF Quote • QQQ ETF Quote • VTI ETF Quote • JNUG ETF Quote • Top 34 Gold ETFs • Top 34 Oil ETFs • Top 57 Financials ETFs • Bitcoin Tear Continues As BTC Breaches $8,000 • New Bitcoin ETF Filed as BTC Price Eyes $8K • Beyond Meat Up 5.25% Despite Sea of Red • Crytocurrency Devotee Sees Bitcoin Tripling by 2021 • Universal Basic Income Would Be a Social and Economic Disaster READ MORE AT ETFTRENDS.COM > \|\| Indonesia ETFs Fall Behind on Biggest Monthly Trade Deficit on Record: This article was originally published on ETFTrends.com. Indonesia country-specific exchange traded funds were among the worst performers Wednesday after the Southeast Asian economy recorded its biggest ever monthly trade deficit in April, revealing its ongoing struggles in a global environment gripped by trade concerns. On Wednesday, the iShares MSCI Indonesia ETF ( EIDO ) declined 2.1% and VanEck Vectors Indonesia Index ETF ( IDX ) decreased 2.2%. Meanwhile, the broader MSCI Emerging Markets Index was up around 0.1%. Weighing on Indonesia's equity markets, Statistics Indonesia revealed the value of goods shipped from the country to the rest of the world plunged by 13.1% year-over-year in April, compared to economists' expectations of a 7.2% fall, the Financial Times reports. Meanwhile, imports for the month slipped by just 6.6% year-over-year, compared to forecasts for a 12.1% decline. The resulting disparity between imports and exports pushed Southeast Asia's biggest economy's monthly trade deficit to $2.5 billion, Indonesia's biggest shortfall since it started recording data since 1950. The wide trade deficit “may exert additional pressure on the Indonesian rupiah although the central bank has pledged to support the currency,” economists at ING said prior to the data release, adding that Jakarta has been trying to hold onto a surplus with policies intended to limit imports. Indonesia is a major exporter of commodities, including palm oil and coal. Prices on these raw materials have slipped this year on rising speculation of a global slowdown in response to increased trade barriers, notably between the U.S. and China. Bahana Sekuritas warned that Indonesia may be caught between U.S. and China as trade talks or lack there of continues. The Southeast Asian country is a major supplier of coal, rubber and forestry products to both countries. Further weighing on Indonesian markets, data published last week also revealed the economy grew at a slower pace than expected over the first quarter, which was partially attributed to the weakening export sector. Story continues For more information on the Indonesian market, visit our Indonesia category . POPULAR ARTICLES AND RESOURCES FROM ETFTRENDS.COM SPY ETF Quote VOO ETF Quote QQQ ETF Quote VTI ETF Quote JNUG ETF Quote Top 34 Gold ETFs Top 34 Oil ETFs Top 57 Financials ETFs Bitcoin Tear Continues As BTC Breaches $8,000 New Bitcoin ETF Filed as BTC Price Eyes $8K Beyond Meat Up 5.25% Despite Sea of Red Crytocurrency Devotee Sees Bitcoin Tripling by 2021 Universal Basic Income Would Be a Social and Economic Disaster READ MORE AT ETFTRENDS.COM > [Social Media Buzz] Perfect nice 😎 \|\| \BJ/BTC.COM/LTCmm_p@ #litecoin https://t.co/P0LC7aa5H7 \|\| @GBTC_Bitcoin So you are basically spamming a pink sheet bitcoin derivative (ETF) that has a NAV of 7.86 and is trading at 9.94 suggesting a premium of about 25%. Why would anyone buy something like that when if they want $BTC they can get the real thing without the derivative risk or premium? \|\| @SanityCrypto Binance System Upgrade Complete: Promotion 10,000 ETH and 5,000 BTC Giveaway. as a form of reward for the last...	7343.90, 7271.21, 8197.69, 7978.31, 7963.33, 7680.07, 7881.85, 7987.37, 8052.54, 8673.22
Given the historical Bitcoin prices from the last 90 days, predict the next 10 daily closing prices. The historical prices are: 3487.95, 3521.06, 3464.01, 3459.15, 3466.36, 3413.77, 3399.47, 3666.78, 3671.20, 3690.19, 3648.43, 3653.53, 3632.07, 3616.88, 3620.81, 3629.79, 3673.84, 3915.71, 3947.09, 3999.82, 3954.12, 4005.53, 4142.53, 3810.43, 3882.70, 3854.36, 3851.05, 3854.79, 3859.58, 3864.42, 3847.18, 3761.56, 3896.38, 3903.94, 3911.48, 3901.13, 3963.31, 3951.60, 3905.23, 3909.16, 3906.72, 3924.37, 3960.91, 4048.73, 4025.23, 4032.51, 4071.19, 4087.48, 4029.33, 4023.97, 4035.83, 4022.17, 3963.07, 3985.08, 4087.07, 4069.11, 4098.37, 4106.66, 4105.40, 4158.18, 4879.88, 4973.02, 4922.80, 5036.68, 5059.82, 5198.90, 5289.77, 5204.96, 5324.55, 5064.49, 5089.54, 5096.59, 5167.72, 5067.11, 5235.56, 5251.94, 5298.39, 5303.81, 5337.89, 5314.53, 5399.37, 5572.36, 5464.87, 5210.52, 5279.35, 5268.29, 5285.14, 5247.35, 5350.73, 5402.70.	[Bitcoin Technical Analysis for 2019-05-01] Volume: 13679528236, RSI (14-day): 62.71, 50-day EMA: 4862.50, 200-day EMA: 4803.55 [Wider Market Context] Gold Price: 1281.40, Gold RSI: 46.40 Oil Price: 63.60, Oil RSI: 54.28 [Recent News (last 7 days)] Bitcoin Price Analysis: Short Squeeze Imminent as Bearish Pressure Weakens: Price Analysis Video.jpg Summary: Following unconfirmed claims by the NYC Attorney General regarding Bitfinex and Tethers insolvency, the bitcoin market had a knee jerk reaction that caused us to retest macro support. However, this pullback barely made a scratch on the market structure as we didnt manage to break our trend of higher lows. The move was swift, but after a few days of sideways consolidation, the market is now seeing a retest of macro resistance in the $5,300 level. So far, the market has yet to reclaim the broken support, but the move is still fresh If we manage to close above the $5,300 level, this would mark a very bullish feat for our market structure as we continue to test and reclaim support level after support level. If we can close a daily candle above the $5,300 level, its very likely we will see a continuation of the uptrend and test the $5,800s. At the moment, the short interest is very high and the market seems to be absorbing every bit of ammunition the bears throw at it. As time moves on, we are seeing a high amount of short positions stack up around the $5,300 zone. This sets up the market for a potentially violent short squeeze. Trading and investing in digital assets like bitcoin is highly speculative and comes with many risks. This analysis is for informational purposes and should not be considered investment advice. Statements and financial information on Bitcoin Magazine and BTC Inc sites do not necessarily reflect the opinion of BTC Inc and should not be construed as an endorsement or recommendation to buy, sell or hold. Past performance is not necessarily indicative of future results. This article originally appeared on Bitcoin Magazine . \|\| Bitcoin Price Analysis: Short Squeeze Imminent as Bearish Pressure Weakens: 1. Followingunconfirmed claimsby the NYC Attorney General regarding Bitfinex and Tether’s insolvency, thebitcoinmarket had a knee jerk reaction that caused us to retest macro support. However, this pullback barely made a scratch on the market structure as we didn’t manage to break our trend of higher lows. 2. The move was swift, but after a few days of sideways consolidation, the market is now seeing a retest of macro resistance in the $5,300 level. So far, themarkethas yet to reclaim the broken support, but the move is still fresh 3. If we manage to close above the $5,300 level, this would mark a very bullish feat for our market structure as we continue to test and reclaim support level after support level. If we can close a daily candle above the $5,300 level, it’s very likely we will see a continuation of the uptrend and test the $5,800s. 4. At the moment, the short interest is very high and the market seems to be absorbing every bit of ammunition the bears throw at it. As time moves on, we are seeing a high amount of short positions stack up around the $5,300 zone. This sets up the market for a potentially violent short squeeze. Trading and investing in digital assets like bitcoin is highly speculative and comes with many risks. This analysis is for informational purposes and should not be considered investment advice. Statements and financial information onBitcoin MagazineandBTC Incsites do not necessarily reflect the opinion ofBTC Incand should not be construed as an endorsement or recommendation to buy, sell or hold. Past performance is not necessarily indicative of future results. This article originally appeared onBitcoin Magazine. \|\| Bitcoin Price Analysis: Short Squeeze Imminent as Bearish Pressure Weakens: 1. Followingunconfirmed claimsby the NYC Attorney General regarding Bitfinex and Tether’s insolvency, thebitcoinmarket had a knee jerk reaction that caused us to retest macro support. However, this pullback barely made a scratch on the market structure as we didn’t manage to break our trend of higher lows. 2. The move was swift, but after a few days of sideways consolidation, the market is now seeing a retest of macro resistance in the $5,300 level. So far, themarkethas yet to reclaim the broken support, but the move is still fresh 3. If we manage to close above the $5,300 level, this would mark a very bullish feat for our market structure as we continue to test and reclaim support level after support level. If we can close a daily candle above the $5,300 level, it’s very likely we will see a continuation of the uptrend and test the $5,800s. 4. At the moment, the short interest is very high and the market seems to be absorbing every bit of ammunition the bears throw at it. As time moves on, we are seeing a high amount of short positions stack up around the $5,300 zone. This sets up the market for a potentially violent short squeeze. Trading and investing in digital assets like bitcoin is highly speculative and comes with many risks. This analysis is for informational purposes and should not be considered investment advice. Statements and financial information onBitcoin MagazineandBTC Incsites do not necessarily reflect the opinion ofBTC Incand should not be construed as an endorsement or recommendation to buy, sell or hold. Past performance is not necessarily indicative of future results. This article originally appeared onBitcoin Magazine. \|\| “Holders Are Not at Risk”: Bitfinex Lawyer Responds to NY Attorney General: Bitfinex and Tether’s legal counsel has written a responseto the New York Attorney General’s (NYAG) ex parte order, which claims that Bitifinex used Tether’s reserves to cover some $850 million in losses. In short, the affidavit writes off the NYAG’s concerns, calling them baseless and requesting an Order to Show Cause that would require the NYAG to prove its case in court unless it vacates or modifies the ex parte order. Additionally, it requests that the Supreme Court of the State of New York stay the NYAG’s order, meaning Bitfinex would not have to comply with a May 3, 2019, deadline requiring the exchange to produce documents related to a $900 million line of credit Bitfinex established with Tether to stanch the $850 million loss. Authored by Stuart Hoegner, who has served as Bitfinex and Tether’s legal counsel since 2016, the affidavit is scathing in its rebuke of the Attorney General’s claims. Hoegner writes that the Office of the New York Attorney General’s (OAG) “preliminary injunction serves no useful purpose” and that it “has succeeded only in spreading misinformation to the markets.” Marked throughout with a tone of defiance, the letter asserts that “Tether holders are not at risk,” despite the NYAG’s framing of the situation in its own letter. Further, it claims that Bitfinex self-reported its troubles with Crypto Capital to the NYAG, the payment processor that allegedly led to Bitfinex’s $850 million loss of customer funds. Hoegner admits that Tether is operating under a roughly 74 percent reserve — but also argues that this practice is not a problem. The affidavit begins in defense of Bitfinex’s relationship to Crypto Capital, whose refusal to wire funds to Bitfinex back in 2018 bottlenecked fiat withdrawals for many customers, the NYAG’s letter states. Bitfinex had to rely on Crypto Capital’s services because it had been ostracized from proper banking relationships, Hoegner claims, citing how its complications with such banks as Wells Fargois a perpetual thorn in the industry’s side. According to the letter, Bitfinex, among other exchanges (like QuadrigaCX in Canada) that used Crypto Capital for makeshift banking, began experiencing withdrawal problems in 2018. This was on account of Crypto Capital having a substantial amount of its funds seized, the document states, affirming that “at least one governmental entity has confirmed that it was involved in the seizure of Crypto Capital funds.” What’s more, the document alleges that “Bitfinex proactively and voluntarily informed the Office of the New York Attorney General (‘OAG’), as well as various U.S. federal law enforcement agencies of its issues and concomitant concerns with Crypto Capital.” The letter continues, “On information and belief, those federal agencies have since been investigating Crypto Capital on a non-public basis at the time of OAG’s application and press release regarding this matter.” Hoegner continues to make the case that Bitfinex orchestrated a “good-faith solution” when it debited $625 million from Tether’s reserves, along with establishing a$900 million line of revolving creditwith the stablecoin company, to cover the losses incurred from Crypto Capital. The counsel argues that this was done “for the protection of the virtual currency market,” and he suggests that the NYAG’s recommendation for the New York Supreme Court to enjoin Bitfinex from drawing on this line of credit would harm the market’s participants. “OAG purports to wonder what ‘benefit[s] would accrue to Tether, or holders of tethers, from this transaction,’ the obvious answer is that Tether, and holders of tether, have a keen interest in ensuring that one of the dominant trading platforms of tethers has sufficient liquidity for normal operations.” Biftinex’s upper echelon began orchestrating the deal in December of 2018, and according to the document, Bitfinex alerted the NYAG to the deal “one month before it was closed, providing OAG a general overview of [it].” The NYAG makes mention of this in its own letter, but it qualifies that it wasn’t alerted of the deal’s final structure until after it was finalized and that it had changed from its first draft. “The description of the transaction differed significantly from what OAG was told just weeks earlier in the February 21. 2019 meeting. and included new information about a previous. undisclosed transfer of $625 million from Tether’s reserves to Bitfinex,” the ex parte order reads. Hoegner makes no reference to the $625 million Tether transferred to Bitfinex’s Bahama-based Deltec bank account; it only touches on $675 million that was transferred from Bitifinex’s Crypto Capital account to Tether’s Crypto Capital account for “the protection of Tether.” This transaction, which the document claims took place on an “arms-length basis”was signed for both sides by the same representative counsel, Giancarlo Devasini. The letter continues to say that the deal has not interfered with Tether’s usual business dealings as the NYAG’s letter might suggest, adding that “the average daily fiat redemption has been $566,066.00, with the largest being $24.2 million.” This is drawn from a reserve of “cash or cash equivalents (short term equivalents)” of $2.1 billion. With its market cap at $2.8 billion, that means Tether is running at a 74 percent reserve, Hoegner admits, going further to say that Bitfinex can draw on the line of credit until this percentile drops to 68. With a deposit-to-reserve ratio of 3 to 4, Bitfinex is doing leagues better than banks that are legally obligated to only hold fractions of reserves at or lower than 10 percent, the document points out. That Tether is operating with fractions in its reserves has also beenwell covered by industry media, Hoegner argues, when Tether made changes to its website’s policies. “Market participants appear to understand that tether is not at risk,” Hoegner concludes. Turning the tables, the lawyer argues that the NYAG’s “misleading” letter did more damage as the market shed some $10 billion in capitalization in response, and he argues that “market confidence in U.S. Dollar tether remained strong, as tether continued to trade at $0.99” — this is after USDT dipped to $0.97 following the news. In a memorandum defending Hoegner’s stance, Zoe Phillips, an attorney for Tether, argues that the NYAG has no business meddling in Bitfinex and Tether’s affairs as long as there is responsible disclosure. “… the Attorney General has no authority to dictate how Bitfinex and Tether do business with one another, or the amount of reserves that Tether must hold. The Martin Act is an antifraud statute enacted to ensure that there is proper disclosure about the risks associated with the sale of securities and commodities … Tether states plainly on its website that tethers are backed by reserves in various forms, specifically including ‘loans’ to ‘affiliated entities.’” For its own part, one of the NYAG’s qualms with the line-of-credit arrangement is that Tether holders and Bitfinex users were not informed. Still, Hoegner’s letter draws the same conclusion that the “OAG’s application contains numerous mischaracterizations and omissions that undercut its request for injunctive relief.” It gives no indication that Bitfinex will comply with the NYAG’s demand to comply with a series of requests by May 3, 2019, arguing that it would “impede the normal operations of Bitfinex’s business.” This article originally appeared onBitcoin Magazine. \|\| Holders Are Not at Risk: Bitfinex Lawyer Responds to NY Attorney General: bitfinex nyag Bitfinex and Tethers legal counsel has written a response to the New York Attorney Generals (NYAG) ex parte order , which claims that Bitifinex used Tethers reserves to cover some $850 million in losses. In short, the affidavit writes off the NYAGs concerns, calling them baseless and requesting an Order to Show Cause that would require the NYAG to prove its case in court unless it vacates or modifies the ex parte order. Additionally, it requests that the Supreme Court of the State of New York stay the NYAGs order, meaning Bitfinex would not have to comply with a May 3, 2019, deadline requiring the exchange to produce documents related to a $900 million line of credit Bitfinex established with Tether to stanch the $850 million loss. Authored by Stuart Hoegner, who has served as Bitfinex and Tethers legal counsel since 2016, the affidavit is scathing in its rebuke of the Attorney Generals claims. Hoegner writes that the Office of the New York Attorney Generals (OAG) preliminary injunction serves no useful purpose and that it has succeeded only in spreading misinformation to the markets. Marked throughout with a tone of defiance, the letter asserts that Tether holders are not at risk, despite the NYAGs framing of the situation in its own letter. Further, it claims that Bitfinex self-reported its troubles with Crypto Capital to the NYAG, the payment processor that allegedly led to Bitfinexs $850 million loss of customer funds. Hoegner admits that Tether is operating under a roughly 74 percent reserve but also argues that this practice is not a problem. The AG Doth Protest Too Much? The affidavit begins in defense of Bitfinexs relationship to Crypto Capital, whose refusal to wire funds to Bitfinex back in 2018 bottlenecked fiat withdrawals for many customers, the NYAGs letter states. Bitfinex had to rely on Crypto Capitals services because it had been ostracized from proper banking relationships, Hoegner claims, citing how its complications with such banks as Wells Fargo is a perpetual thorn in the industrys side . Story continues According to the letter, Bitfinex, among other exchanges (like QuadrigaCX in Canada) that used Crypto Capital for makeshift banking, began experiencing withdrawal problems in 2018. This was on account of Crypto Capital having a substantial amount of its funds seized, the document states, affirming that at least one governmental entity has confirmed that it was involved in the seizure of Crypto Capital funds. Whats more, the document alleges that Bitfinex proactively and voluntarily informed the Office of the New York Attorney General (OAG), as well as various U.S. federal law enforcement agencies of its issues and concomitant concerns with Crypto Capital. The letter continues, On information and belief, those federal agencies have since been investigating Crypto Capital on a non-public basis at the time of OAGs application and press release regarding this matter. Hoegner continues to make the case that Bitfinex orchestrated a good-faith solution when it debited $625 million from Tethers reserves, along with establishing a $900 million line of revolving credit with the stablecoin company, to cover the losses incurred from Crypto Capital. The counsel argues that this was done for the protection of the virtual currency market, and he suggests that the NYAGs recommendation for the New York Supreme Court to enjoin Bitfinex from drawing on this line of credit would harm the markets participants. OAG purports to wonder what benefit[s] would accrue to Tether, or holders of tethers, from this transaction, the obvious answer is that Tether, and holders of tether, have a keen interest in ensuring that one of the dominant trading platforms of tethers has sufficient liquidity for normal operations. Biftinexs upper echelon began orchestrating the deal in December of 2018, and according to the document, Bitfinex alerted the NYAG to the deal one month before it was closed, providing OAG a general overview of [it]. The NYAG makes mention of this in its own letter, but it qualifies that it wasnt alerted of the deals final structure until after it was finalized and that it had changed from its first draft. The description of the transaction differed significantly from what OAG was told just weeks earlier in the February 21. 2019 meeting. and included new information about a previous. undisclosed transfer of $625 million from Tethers reserves to Bitfinex, the ex parte order reads. Hoegner makes no reference to the $625 million Tether transferred to Bitfinexs Bahama-based Deltec bank account; it only touches on $675 million that was transferred from Bitifinexs Crypto Capital account to Tethers Crypto Capital account for the protection of Tether. This transaction, which the document claims took place on an arms-length basis was signed for both sides by the same representative counsel , Giancarlo Devasini. Under the Tether The letter continues to say that the deal has not interfered with Tethers usual business dealings as the NYAGs letter might suggest, adding that the average daily fiat redemption has been $566,066.00, with the largest being $24.2 million. This is drawn from a reserve of cash or cash equivalents (short term equivalents) of $2.1 billion. With its market cap at $2.8 billion, that means Tether is running at a 74 percent reserve, Hoegner admits, going further to say that Bitfinex can draw on the line of credit until this percentile drops to 68. With a deposit-to-reserve ratio of 3 to 4, Bitfinex is doing leagues better than banks that are legally obligated to only hold fractions of reserves at or lower than 10 percent, the document points out. That Tether is operating with fractions in its reserves has also been well covered by industry media , Hoegner argues, when Tether made changes to its websites policies. Market participants appear to understand that tether is not at risk, Hoegner concludes. Turning the tables, the lawyer argues that the NYAGs misleading letter did more damage as the market shed some $10 billion in capitalization in response, and he argues that market confidence in U.S. Dollar tether remained strong, as tether continued to trade at $0.99 this is after USDT dipped to $0.97 following the news. In a memorandum defending Hoegners stance, Zoe Phillips, an attorney for Tether, argues that the NYAG has no business meddling in Bitfinex and Tethers affairs as long as there is responsible disclosure. the Attorney General has no authority to dictate how Bitfinex and Tether do business with one another, or the amount of reserves that Tether must hold. The Martin Act is an antifraud statute enacted to ensure that there is proper disclosure about the risks associated with the sale of securities and commodities Tether states plainly on its website that tethers are backed by reserves in various forms, specifically including loans to affiliated entities. For its own part, one of the NYAGs qualms with the line-of-credit arrangement is that Tether holders and Bitfinex users were not informed. Still, Hoegners letter draws the same conclusion that the OAGs application contains numerous mischaracterizations and omissions that undercut its request for injunctive relief. It gives no indication that Bitfinex will comply with the NYAGs demand to comply with a series of requests by May 3, 2019, arguing that it would impede the normal operations of Bitfinexs business. This article originally appeared on Bitcoin Magazine . \|\| Report: Former Barclays Exec Joins Fidelity Investments to Work on Digital Assets: A former executive of British investment bank Barclays, Chris Tyrer, has joined Fidelity Digital Assets, the crypto platform of American financial services corporation Fidelity Investments, Finance Magnates reported on April 30. Tyrer began working on digital assets for Fidelity Investments after serving over 13 years at Barclays as Head of Digital Assets Project, Head of Commodities Trading, and Global Head of Crude Oil Trading, according to his LinkedIn profile . Tyrer and commodity trader Matthieu Jobbe Duval reportedly attempted to establish a digital currency trading desk at the bank , but the project was reportedly put on hold as prices continued to fall at the end of 2018. As reported earlier in April, Fidelity Digital Assets named former Head of Equity Electronic Sales for the Americas at Barclays Christine Sandler as Head of Sales and Marketing. Fidelity Digital Assets went live in the beginning of March with a selected group of clients. The company’s head Tom Jessop said then that they were still working on various parts of the platform. He noted that while some users have been on the platform since January, others may wait until September, as it “really depends on the facts and circumstances of each client.” In February, Fidelity Investments received and passed on the Lightning Torch — a community-driven experiment aimed at raising awareness about the protocol and testing its robustness — to the Harvard School Blockchain & Crypto Club. The trend first reportedly started when Twitter user and bitcoin ( BTC ) enthusiast Hodlonaut sent 10,000 satoshis (the smallest, indivisible denomination of a bitcoin) to another Lightning user, and the user added another 10,000 satoshis and passed it on. Related Articles: UK Central Bank Deputy Governor Dave Ramsden: Crypto Is Not a Store of Value TrustToken Launches Stablecoin Backed by Canadian Dollar Report: Indictment Reveals Connection to Bitfinex, QuadrigaCX’s Shadow Banking Services Dutch Central Bank Will Keep Embracing DLT, But To-Date Findings Are Not All Positive \|\| Report: Former Barclays Exec Joins Fidelity Investments to Work on Digital Assets: A former executive of British investment bank Barclays, Chris Tyrer, has joined Fidelity Digital Assets, the crypto platform of American financial services corporation Fidelity Investments, Finance Magnatesreportedon April 30. Tyrer began working ondigital assetsfor Fidelity Investments after serving over 13 years at Barclays as Head of Digital Assets Project, Head of Commodities Trading, and Global Head of Crude Oil Trading, according to hisLinkedIn profile. Tyrer and commodity trader Matthieu Jobbe Duval reportedlyattemptedto establish a digital currency trading desk at thebank, but the project was reportedlyput on holdas prices continued to fall at the end of 2018. As reported earlier in April, Fidelity Digital Assetsnamedformer Head of Equity Electronic Sales for the Americas at Barclays Christine Sandler as Head of Sales and Marketing. Fidelity Digital Assetswent livein the beginning of March with a selected group of clients. The company’s head Tom Jessop said then that they were still working on various parts of the platform. He noted that while some users have been on the platform since January, others may wait until September, as it “really depends on the facts and circumstances of each client.” In February, Fidelity Investmentsreceived and passedon the Lightning Torch — a community-driven experiment aimed at raising awareness about the protocol and testing its robustness — to the Harvard School Blockchain & Crypto Club. The trend first reportedly started when Twitter user and bitcoin (BTC) enthusiast Hodlonaut sent 10,000 satoshis (the smallest, indivisible denomination of a bitcoin) to another Lightning user, and the user added another 10,000 satoshis and passed it on. • UK Central Bank Deputy Governor Dave Ramsden: Crypto Is Not a Store of Value • TrustToken Launches Stablecoin Backed by Canadian Dollar • Report: Indictment Reveals Connection to Bitfinex, QuadrigaCX’s Shadow Banking Services • Dutch Central Bank Will Keep Embracing DLT, But To-Date Findings Are Not All Positive \|\| Tether Lawyer Shocker: Only 74% Backed by Cash, How Will Bitcoin React?: A lawyer for Tether has admitted only 74% of the stablecoin is backed by cash. \| Source: Shutterstock By CCN.com : According to an affidavit filed with the Supreme Court of the State of New York by Stuart Hoegner, the general counsel to Tether and major bitcoin exchange Bitfinex, only 74 percent of Tethers holdings are backed by cash. As of the date [April 30] I am signing this affidavit, Tether has cash and cash equivalents (short term securities) on hand totaling approximately $2.1 billion, representing approximately 74 percent of the current outstanding tethers, the affidavit read. The affidavit sparked debates within the cryptocurrency community. Some industry executives argued that Tethers 74 percent holding could be considered relatively high and that it does not differ from the concept of fractional banking. Bitcoin is trading at a more than $300 premium on Bitfinex amid speculation investors are exiting the Tether stablecoin https://t.co/msm05ZQWvx pic.twitter.com/UpWWDnxrEg Bloomberg Crypto (@crypto) April 30, 2019 Others have said that it is not sensible to compare Tether to fractional banking as the offering of Tether is a stablecoin backed by the value of the U.S. dollar on a 1:1 ratio. Tether is Not 100% Backed Anymore, Analysts Offer Contrasting Viewpoints Several macro analysts including Alex Krüger, who previously defended Tether in late 2018, which was understandable given that Tether was said to have had a cash reserve equivalent to all Tether issued by November 2018, said that it is difficult to argue against Tether having an asset-liability mismatch. Confirmed, from the horses mouth. Tether is not fully backed by cash and cash equivalents. Tether has an asset-liability mismatch (i.e. liquidity concerns) and is possibly insolvent as well (i.e. liabilities > assets), Krüger said. Read the full story on CCN.com . \|\| Tether Lawyer Shocker: Only 74% Backed by Cash, How Will Bitcoin React?: ByCCN.com: According to an affidavit filed with the Supreme Court of the State of New York by Stuart Hoegner, the general counsel to Tether and major bitcoin exchange Bitfinex, only 74 percent of Tether’s holdings are backed by cash. “As of the date [April 30] I am signing this affidavit, Tether has cash and cash equivalents (short term securities) on hand totaling approximately $2.1 billion, representing approximately 74 percent of the current outstanding tethers,” the affidavit read. The affidavit sparked debates within the cryptocurrency community. Some industry executives argued that Tether’s 74 percent holding could be considered relatively high and that it does not differ from the concept of fractional banking. Others have said that it is not sensible to compare Tether to fractional banking as the offering of Tether is a stablecoin backed by the value of the U.S. dollar on a 1:1 ratio. Several macro analysts including Alex Krüger, who previously defended Tether in late 2018, which was understandable given that Tether was said to have had a cash reserve equivalent to all Tether issued by November 2018, said that it is difficult to argue against Tether having an asset-liability mismatch. “Confirmed, from the horse’s mouth. Tether is not fully backed by cash and cash equivalents. Tether has an asset-liability mismatch (i.e. liquidity concerns) and is possibly insolvent as well (i.e. liabilities > assets),” Krüger said. \|\| Tether Lawyer Shocker: Only 74% Backed by Cash, How Will Bitcoin React?: ByCCN.com: According to an affidavit filed with the Supreme Court of the State of New York by Stuart Hoegner, the general counsel to Tether and major bitcoin exchange Bitfinex, only 74 percent of Tether’s holdings are backed by cash. “As of the date [April 30] I am signing this affidavit, Tether has cash and cash equivalents (short term securities) on hand totaling approximately $2.1 billion, representing approximately 74 percent of the current outstanding tethers,” the affidavit read. The affidavit sparked debates within the cryptocurrency community. Some industry executives argued that Tether’s 74 percent holding could be considered relatively high and that it does not differ from the concept of fractional banking. Others have said that it is not sensible to compare Tether to fractional banking as the offering of Tether is a stablecoin backed by the value of the U.S. dollar on a 1:1 ratio. Several macro analysts including Alex Krüger, who previously defended Tether in late 2018, which was understandable given that Tether was said to have had a cash reserve equivalent to all Tether issued by November 2018, said that it is difficult to argue against Tether having an asset-liability mismatch. “Confirmed, from the horse’s mouth. Tether is not fully backed by cash and cash equivalents. Tether has an asset-liability mismatch (i.e. liquidity concerns) and is possibly insolvent as well (i.e. liabilities > assets),” Krüger said. \|\| Millennials Are the ‘Driving Force’ of Bitcoin Ownership: Survey: Most people have heard of bitcoin by now, but young people have the highest conviction about it, the Blockchain Capital/Harris Poll reveals. \| Source: Shutterstock By CCN : Millennials bask in knowing they are far more ahead of the technology curve than older adults. This is why their demographic has been more willing to embrace bitcoin as a long-term investment. But what about the stock market? Their proclivity toward crypto has led many to abandon good old fashioned stock market investing. This may prevent them from reaping the long-term gains inherent in buying the Dow Jones Industrial Average, S&P 500, and Nasdaq. Millennials’ Love Affair with Bitcoin There are no bigger champions of bitcoin than people who are under the age of 35. Harris Poll conducted a survey on behalf of Blockchain Capital . The poll spanned April 23–25, 2019 across more than 2,000 adults. Blockchain Capital General Partner Spencer Bogart shared the survey’s findings in a Medium post . By popular request – here's the breakdown of people that responded to the Harris Poll survey. Will share more interesting results in the coming days/weeks :) pic.twitter.com/oBUKdB7t9a — Spencer Bogart (@CremeDeLaCrypto) April 30, 2019 When it comes to bitcoin, millennials comfortably check off the following boxes: Awareness Familiarity Perception Conviction What’s more telling is their propensity and willingness to buy bitcoin. Despite the crypto winter, the percentage of people indicating they are ‘very’ or ‘somewhat’ likely to buy bitcoin in the next five years rose by nearly half. The survey found that 27% of respondents would prefer bitcoin to stocks as of April 2019 vs. 19% in the bull market of October 2017. millennials The propensity to buy bitcoin has increased since the bull market of 2017. \| Source: Spencer Bogart Medium Post Read the full story on CCN.com . \|\| Millennials Are the ‘Driving Force’ of Bitcoin Ownership: Survey: Most people have heard of bitcoin by now, but young people have the highest conviction about it, the Blockchain Capital/Harris Poll reveals. \| Source: Shutterstock By CCN : Millennials bask in knowing they are far more ahead of the technology curve than older adults. This is why their demographic has been more willing to embrace bitcoin as a long-term investment. But what about the stock market? Their proclivity toward crypto has led many to abandon good old fashioned stock market investing. This may prevent them from reaping the long-term gains inherent in buying the Dow Jones Industrial Average, S&P 500, and Nasdaq. Millennials’ Love Affair with Bitcoin There are no bigger champions of bitcoin than people who are under the age of 35. Harris Poll conducted a survey on behalf of Blockchain Capital . The poll spanned April 23–25, 2019 across more than 2,000 adults. Blockchain Capital General Partner Spencer Bogart shared the survey’s findings in a Medium post . By popular request – here's the breakdown of people that responded to the Harris Poll survey. Will share more interesting results in the coming days/weeks :) pic.twitter.com/oBUKdB7t9a — Spencer Bogart (@CremeDeLaCrypto) April 30, 2019 When it comes to bitcoin, millennials comfortably check off the following boxes: Awareness Familiarity Perception Conviction What’s more telling is their propensity and willingness to buy bitcoin. Despite the crypto winter, the percentage of people indicating they are ‘very’ or ‘somewhat’ likely to buy bitcoin in the next five years rose by nearly half. The survey found that 27% of respondents would prefer bitcoin to stocks as of April 2019 vs. 19% in the bull market of October 2017. millennials The propensity to buy bitcoin has increased since the bull market of 2017. \| Source: Spencer Bogart Medium Post Read the full story on CCN.com . \|\| Millennials Are the ‘Driving Force’ of Bitcoin Ownership: Survey: Most people have heard of bitcoin by now, but young people have the highest conviction about it, the Blockchain Capital/Harris Poll reveals. \| Source: Shutterstock By CCN : Millennials bask in knowing they are far more ahead of the technology curve than older adults. This is why their demographic has been more willing to embrace bitcoin as a long-term investment. But what about the stock market? Their proclivity toward crypto has led many to abandon good old fashioned stock market investing. This may prevent them from reaping the long-term gains inherent in buying the Dow Jones Industrial Average, S&P 500, and Nasdaq. Millennials’ Love Affair with Bitcoin There are no bigger champions of bitcoin than people who are under the age of 35. Harris Poll conducted a survey on behalf of Blockchain Capital . The poll spanned April 23–25, 2019 across more than 2,000 adults. Blockchain Capital General Partner Spencer Bogart shared the survey’s findings in a Medium post . By popular request – here's the breakdown of people that responded to the Harris Poll survey. Will share more interesting results in the coming days/weeks :) pic.twitter.com/oBUKdB7t9a — Spencer Bogart (@CremeDeLaCrypto) April 30, 2019 When it comes to bitcoin, millennials comfortably check off the following boxes: Awareness Familiarity Perception Conviction What’s more telling is their propensity and willingness to buy bitcoin. Despite the crypto winter, the percentage of people indicating they are ‘very’ or ‘somewhat’ likely to buy bitcoin in the next five years rose by nearly half. The survey found that 27% of respondents would prefer bitcoin to stocks as of April 2019 vs. 19% in the bull market of October 2017. millennials The propensity to buy bitcoin has increased since the bull market of 2017. \| Source: Spencer Bogart Medium Post Read the full story on CCN.com . \|\| A Conversation with Mark Yusko, CEO and CIO of Morgan Creek Capital Management: The following transcript is taken from episode two of The Scoop, The Block's new podcast. Listen below and subscribe to The Scoop on Apple , Spotify , Google Play , Stitcher , or wherever you listen to podcasts. Email feedback to [email protected] . This transcript has been edited for clarity and length. In this episode of The Scoop, Frank Chaparro and Matteo Leibowitz interview Mark Yusko , CEO and CIO of Morgan Creek Capital Management. Mark is also Co-Founder & Partner of Morgan Creek Digital, an asset management firm focussed on investing across the blockchain and digital assets industry. Over the course of an hour long conversation, Mark discusses his investing philosophy, bullishness on Bitcoin and blockchain, which economic theories best describe reality, the mistake of moving off of a gold standard, and why financial markets in 2019 may be a repeat of the dotcom bomb. As Mark says in the opening "I'll give you the give you the short version, although I don't do short well." Frank Chaparro I hope you enjoy the episode. So we are, I mean I'm very excited for this podcast. I was telling Teo before we came down here that I really think that this thing is made by the guests who are, I don't know if they're just gracious enough or thrill seekers but I'm the weakest link, Teo's the weaker link and we have the strongest link sitting next to me on my right -- Mark the Chief Investment Officer and CEO of Morgan Creek Capital . Mark Yusko Yeah. Morgan Creek Capital Management then we'll get to Morgan Creek Digital Assets in a little bit. Frank It's basically a fund of funds, we were talking about the structure before we turned on the recording equipment. Mark thanks so much for coming down or coming up rather from Raleigh, North Carolina. Mark Woke up in North Carolina and here I am. Frank Well thanks so much for joining us. Tell us a bit about just what Morgan Creek is and how it all got started and what you guys are investing in. Story continues Mark Yeah I'll give you the short version although I'll warn you I don't do short well so I'll try to stay short. But so I grew up in the investment world I worked for an insurance company, an asset manager and then I got the call to go back to the alma mater. I went to Notre Dame back in 93' was the assistant investment officer there for five years and then left to be the Chief Investment Officer at University of North Carolina. Traditional asset allocation, manager selection, portfolio construction. We didn't really make the direct investments, we allocated money to managers. I was approached by a couple of families back in 2004, left, formed a registered investment adviser called Morgan Creek Capital Management. In 2004 we started managing money for individuals, wealthy families, family offices, smaller institutions that didn't have staff and that morphed from advisory work to fund of funds work to hedge funds, private investments and then about five years ago, kind of started to get into the rabbit hole of crypto and blockchain and then a year and a half ago we launched Morgan Creek Digital Assets which is a subsidiary of Morgan Creek Capital Management. Frank But it all started when you were at University of North Carolina. These families, how did they know of what you were doing? Mark Great question. It's interesting, right? I went to North Carolina in 1998 and most people will not remember this but in 1996 Julian Robertson who's a very famous UNC grad, famous hedge fund manager, ran Tiger Management and he had a tough year in 1996 and they wrote an article in Businessweek called The Fall of the Wizard and he was down 9 percent, the market was up 5 percent. And so North Carolina banned hedge funds. The board of North Carolina banned hedge funds. So I show up in 1998 and I said "well you know the best managers in the world manage these hedge funds. People like Julian and others, I want to invest" and they're like "oh well we banned hedge funds." I'm like "alright fine." We won't have any hedge funds, we'll have long short equity, opportunistic equity, enhanced fixed income and absolute return. And the chancellor says that's just nomenclature, right? I said Yeah. He said good as long as we're clear. So we did over the next two years leading up to the Y2K, move to about 40 plus percent in hedge funds, about 20 percent in private. And so from 2000-2002 when the average foundation endowment lost about a quarter of their assets when the market crashed in 2000, 2001, and 2002. We were flat. And so people heard about that and also I became known. It's kind of funny. Someone called me the Madonna of hedge funds because I was out there preaching hedge funds. Frank You don't look like Madonna. Mark I don't look like Madonna, I don't sound like Madonna, I don't sing like Madonna. She's way more buff than I am. But I was out on the dais speaking at conferences saying you can't just be in stocks, bonds and cash. You've got to be in alternate investments, you've got to be in hedge funds. The talent is migrating from the traditional world to hedge funds and you've got to go there. Frank It's interesting, there's almost a parallel about then in 2000, 2001 you were telling everybody this is where you need to be an investor. Mark It's even more parallel, back then, first time 1996. We go to our board at Notre Dame before I went to UNC, said we want to invest in hedge funds, we'll invest in this guy Julian Robertson and Danny Och and his group. And Richard Perry and they're like, "No, that's where all the bad guys are. You know we're fiduciaries. We can't possibly invest in hedge funds. Those are risky.". Frank So how did you convince them? Mark Well just showed them the data, right? Data doesn't lie. Frank Unless you're in crypto. Mark Well yeah unless you're in crypto. Right, right we could talk about that. So one of my early bosses said "figures lie and liars figure" but the data, the actual data doesn't lie. So what's interesting about Markowitz theory , right? Harry Markowitz won the Nobel Prize and he said if you take bonds and you add stocks, risk goes down. If you add real estate and hedge funds, risk goes down. Everybody was like, no that can't be right. Well he won the Nobel Prize, it's right. And so we showed them the data, both at Notre Dame and then again at UNC. And the proof in the pudding is in the eating, right? Our results spoke for themselves. You know we had really good results as we increased our allocation. It makes sense, in what business do you know does the best person not charge the most money? Doctor, lawyer, football coach, basketball player, same thing with asset management. The worst people are going to stay managing index funds because it pays the least and the best are going to go run where they can get 2 and 20 . And so we saw this migration of talent and we follow the talent, follow the money, follow the talent and we allocated capital there and it worked. But it's very similar to today in that back then nobody wanted to do hedge funds. They were afraid of hedge funds, like I said UNC had banned hedge funds -- that's where all the evil dark sided people were and oh you're not American if you short stocks, I'm like no, it's really American to tell people to buy stuff that's egregiously overvalued that's going to go down. Yea that's really American. No what's American, is calling out frauds and fads and phonies and all the overvalued assets, that's what a good hedge fund manager does. We made those changes, that worked out so fast forward to today, where are all the bad guys? Frank In crypto. Mark In crypto. And so trying to convince people to go in that direction. What's interesting is that I have this partner, I think you've had him on the show or willl have him on the show. But Anthony Pompliano or "Pomp" as everybody knows him. He's got his own podcast and all this good stuff. But he and I met two years ago through an investment in Lyft and we're both making late stage venture investments. We also do early stage. He did some early stage stuff, something called Full Tilt Capital and we met and didn't spend much time together. We met, we did this investment. Great. About six months later I start following this guy on Twitter. Turns out it's Pomp and I like, like, like, like, like, everything he said either would have come out of my mouth or I'd said it -- I got to meet this guy. Frank I've got to find out what the virus is all about. Mark Exactly. The virus is spreading. So we sit down for breakfast, get together for breakfast the next day and then the next week and then after a couple weeks I say we should work together. So, he describes it best in the sense of, sounds better when he says it but if you take the two groups, take the crypto kids -- they all wear black T-shirts and sit on the side of the river and they look across the other side and they look at the institutional old guys like me and say "don't look like them, don't like them, don't trust them'. And the old guys in the institutional business look across the river and say "don't look like those guys, don't trust them". And they're not going to work together but there in the middle, there's four or five guys who've crossed the chasm, John Burbank , Novogratz , Dan Morehead and this Yusko guy and Pomp said well three of those guys are traders. We don't want to be traders but this Yusko guy, he's actually managed billions of dollars, he's got infrastructure he's got salespeople, he's got back office people. Maybe we could create this bridge across the river between the instititutional capital and the people who have this knowledge about this emerging technology. Frank But before you and Pomp sort of came together ahead of your meeting of the minds and identified the synergy between the two firms, you had had your own crypto journey, right? You came into contact with Dan Morehead, the Tiger Management sort of mafia so to speak. And you had your own coming of age story with crypto from 2013 til when I guess you met Pomp maybe a year ago? When did the deal close? Mark Well we met in 2017 and we really put Morgan Creek Digital together last year in 2018. But yeah to your point, we all have a crypto journey, we all see the crypto light and I say what's interesting about this, is everyone I know who's intelligent starts skeptical. That's the way you should start, right? With anything new you should start skeptical. And then, I call it ignorance displacement theory, right? Archimedes discovered this displacement principle by getting in the bathtub and boom, the water displaced. And it's the same thing with ignorance. We all start ignorant about something -- that doesn't necessarily mean in the negative connotation, it just means we don't have knowledge. But as we gain knowledge about something, anything, how to play golf, how to play poker, whatever it is whether it's investing crypto... Frank Ricky, which we play sometimes, you ever play Ricky? You gotta try it Mark No, no so see I'm ignorant so I would be the patsy. If you're in a game for 20 minutes you don't know who the patsy is, stop playing. So we won't play. I was ignorant and so I met Dan Morehead who I had helped seed when he launched Pantera Macro when he spun out of Tiger. I've known Dan twenty five years, we've been investing with pretty much all the Tiger Cubs over the years on the hedge fund side. And we had a great relationship and he in 2013 said "hey I'm shutting down the macro fund, sending your money back and I'm going to do these two funds in crypto". I don't even know what you're talking about but tell me more. He says "well there's this thing Bitcoin, we're going to start a Bitcoin fund and the founders of Fortress are putting money in and it is really interesting. And then I'm gonna do this infrastructure fund to back companies that are gonna help build that". I'm like ding ding ding ding ding. I'm a picks and shovels guy. I like infrastructure. Okay I'll do that. That was the first of my many bad decisions in crypto because that fund's been great. It's about a 9.6X. We'd all say that's awesome. I should have put the money in Bitcoin fund. That's like 86X including the crypto winter. It's the best performing hedge fund of all time. So fast forward another couple of years I'm starting to think more about this. I wrote, actually it was just a year, I wrote, remember when Bitcoin had bounced to a thousand and then it dropped about 400, first quarter of 14'. I write these long letters. I mean they're long, like 40 50 60 and my last one was 83 pages. "Why do you write such long letters? Like they're too hard to read". They're not for you. They're for me. It's how I learn, by writing and how I get my views. And so I wrote one paragraph on Bitcoin in a 60 page letter and I had clients say we'll fire you if you don't stop talking about this crazy stuff. Frank How many? Mark Pardon. Frank How many clients? Mark Half a dozen. Half a dozen people called, literally took time out of their day. So that means how many people thought it? But half a dozen people called up and said stop talking about this. This is crazy. We don't wanna hear about Bitcoin. Now that was at 400 but it went to one hundred seventy five. Okay. They were right. That was September that year. And then boom, goes all the way back to 1000. So, 2015 my son's graduating from Notre Dame where we all went and I said go meet with Dan and just talk to some companies and he talked to a couple of companies, Coinbase and a couple others and he comes and he says "I don't know Dad I just I really want to live in San Francisco but I think I'm going to go with KPMG." Safe, easy. Okay great. Great decision. So we're having Thanksgiving dinner last year and he's like "All right fine. You were right. I should go gone with one of the crypto companies. But you're not as smart as you think you are." I'm like "oh, tell me why?" He says, "you didn't mortgage the house up and put it all on Bitcoin." I'm like "Ah, touché!". All right. So again, told you I've made many bad decisions but the key was I had this beginning of this relationship with the infrastructure side vested in Coinbase and Xapo and a couple other infrastructure companies. Korbit , good outcomes. Then we started to dabble in crypto itself and that was kind of 2015, '16 and a couple of our clients instead of saying they'd fire us they said, this is interesting, tell me more and it did a little bit. And one of the good things, we weren't as forceful. Frank Now was that through the hedge fund part of the business? Mark It was in our private side of the business. So we have private funds that do fund of funds. We have hedge funds of funds and a hedge fund. And so we did everything more in our private funds. Frank And so what was the exposure to clients in terms of...? Mark What we told people was we should do 1 percent in crypto itself because of the asymmetry of it and then you should put another couple percent in infrastructure related to it. So a couple, 2-3 percent, not crazy allocations but we thought the asymmetry was really high. And when you look at traditional assets today, one of our big themes right now is get off zero #getoffzero from Twitter . And the key is that 0, 10 years from now you look back it's going to be the wrong answer. As a fiduciary, no exposure crypto assets are going to be the wrong answer. So it doesn't have to be 10 or 20 or 30 percent because the asymmetry is so large. So we started to small, started to allocate and that's when I had this meeting with Anthony and a couple other people too. But it was really that meeting with Anthony 18 months ago. Mark So we started down the path of building what we called Morgan Creek Blockchain Opportunity Fund. So we had the documents we were all ready to go and Pomp and his partner Jason Williams had this thing called Full Tilt Capital, they were doing early stage investing, kind of professionalizing friends and family. And we got together and said hey let's merge, we'll bring you guys on as the team to do the blockchain opportunity fund and we'll flip flop our normal model. Our normal model was 70 percent funds, external managers, 30 percent co investments. So we'll flip flop it and we'll go 70 percent in direct deals, we'll go 15 percent in external managers so we'll invest in a Pantera or Blockchain Capital or something else and then we'll do up to 15 percent directly into crypto. And so, we launched that, we went out to raise 25 million bucks. We actually were oversubscribed, we raised 40 . But the big thing is we got institutions to come in. We got six institutions, because most of the money so far has been high networth individuals but we got six institutions and the big one for us is we got two public pension funds and that was amazing because they're usually not early adopters but we had two great CIO's, real leaders. They both invested personally. We got to their boards and survived the board meeting ordeal. Frank That's interesting, we can get into that like what maybe the board meetings were like but something that I was thinking about when that news came out you know 2 massive, I think it was the fireman's fund of Fairfax County. Right. To what degree is this something that's going to impact the investment return of the folks that're investing for when it's just this massive fund that, at the end of the day is only getting limited amount of exposure is it that big of an ask to convince them? Mark That's a really good question and a lot of people would say no. If you only put you know half a percent or 1 percent, it can't move the needle. Not true, venture capital. So 1996 I was at Notre Dame and we invested five million dollars in this venture capital company called Sequoia. In 1996 Sequoia was not famous, Michael Moritz hadn't even done a deal yet. He was a reporter for The Wall Street Journal. Don Valentine hired him over and we backed him, of that five million dollar investment they put half a million into this little company called Google and we took out two hundred million dollars. There should be a quad at Notre Dame called the Google quad. So you can have little tiny investments, make a gigantic impact on the overall fund, if they have the right asymmetry. You're never gonna get a 400X return buying stocks in an index fund. You're never going to get a 400 percent return buying bonds or high yield bonds or even... Frank But when a massive pension fund is investing hundreds of millions of dollars. The point I'm trying to get at is do they really care if they're going to throw a couple million or small percent? Mark Absolutely they care. Frank Why do they care? Mark Because venture capital is all about asymmetry and what you're doing is you're making small bets in areas where you can get in front of a big trend. Whether it be cloud computing. Whether it be blockchain technology and we can spend I mean I'd love to spend time talking about this is -- what people confuse is they think crypto is a thing. They think that you know Bitcoin's a thing. What they're missing is this is a technological evolution -- that's what I wrote my last letter on financial natural selection and Darwin . This is the evolution of technology. Started in the 50s 1954 the mainframe, 68 with the microchip, 82 at the personal computer, 96 with the Internet, 2010 with the mobile net and 2024 we're still five years from now is the trust net (my term, use it liberally) and we want to call it the internet of things or the internet of value but it's the trust net. We're using blockchain technology to establish a single point of truth or trust and we don't need that intermediate trusted third party and what it does is the same way DOS created an operating system for computers, personal computers. And Steve Ballmer, in 1982 going to work for Microsoft. His mom's like why would anyone want a computer in their house? He has 18 billion reasons to say mom I was right. So then in 2010, or in actually 2005 Google bought Android, people were saying what're you doing buying Android? Well now they have 80 percent market share globally of mobile phones operating system. And so the same thing is going to happen here with blockchain over the next 5, 8, 10 years. Blockchain will drive every meaningful company, every meaningful network, every meaningful system on the planet. It is this technological wave that will give early investors huge multiples. Frank This is the pitch. This is something like what you might have been saying in front of the board potentially? Mark Perfect example, in the board meeting, police board. Two and a half hour board meeting, we're grilled every which way from Sunday, right? They had a 200 page due diligence questionnaire that we had to fill out. You know Pomp tells the story great, he's like I've never written 200 pages in my whole life about anything. And you know I was operating out of a coffee shop so I couldn't do a 200 page due diligence document. We already had it done. So that was why the institution trusts Morgan Creek. We want to be the trusted advisor to the digital age or in the digital age. We want to be somebody that institutions can trust because we come from the old world embracing the new world. And so we're at this board meeting, two and a half hours. We get to the very end and it's right out of central casting. Police officer, Harley Davidson parked outside, helmet, uniform, helmet on the table, gun on the table, sunglasses, mustache, right off a TV screen. And he says "All right let me get this straight. I've got to go tell my guys that I just approved putting their pension in drug dealer money" and I'm like "whoa no no that is not what you're going to tell them. No, what you're gonna tell them is this, that today as a fiduciary you look at bonds and you're gonna make 3 percent for the next 10 years. You look at equities you're gonna be lucky to make 3 percent. We have an actuary assumed rate of seven and a half. The only way we're gonna get that is by having diversifying assets that have a greater asymmetry to them." And that's venture capital and venture capital in new technology that is going to use this emerging technology and make it mainstream. If you think about new technology the first users are always the bad guys. Who was the first person with a pager? Drug dealer. Who was the first person with a cell phone? Drug dealer. Who's first person to use the Internet? Frank 100 percent. I mean I have an uncle who worked in the telephone industry in the 1980s and he was telling me how like back then, it was a conversation over Thanksgiving dinner where you know obviously I talk about what I write about, what I do and how the industry as you alluded to before is associated with criminals crooks etc. and he was saying "Well, Frankie back in the 80s when grandpa Bill and I were working in the telephone industry what we would do is we would sell". Actually I honestly don't think I should say this. They would basically configure the technology so that you could skip ahead calls and so you skip ahead calls and so everyone would look at telephones as in the beginning as this sort of shady thing. And I think every new technology has that. Matteo Leibowitz I have a question. So when you're pitching to these funds and to other clients, do you pitch this as a technological revolution or as a monetary revolution? Mark So yes and yes. It is going to evolve even within the technology itself. And if you think about it, today we have the most successful blockchain is the Bitcoin blockchain, right? Most powerful supercomputer in the world 1,500X more powerful than the next highest supercomputer. Never had a fraudulent transaction. Never had one second of downtime. Bar none most powerful computing system in the world. Okay that's interesting but what is it really good for? Well right now it's really a store of value. It's digital gold. Now it's also being speculated in but it really is digital gold. So it's a crypto commodity. And at the end of the day there are only four assets that people can invest in: stocks, bonds, currencies, commodities. Ultimately we had analog, right? Physical pieces of paper. Then they went electronic, where we are today we have cue sips that represent analog physical pieces of paper at DTCC. And eventually we'll have digital. Crypto, another word for digital just means cryptographically secure. So we have crypto commodities, right? Bitcoin is a crypto commodity. Now people want it. Satoshi son theoretically wanted to be a cryptocurrency -- a medium of exchange, a payment rail that will come. The challenge is, it's like when you're building a house. Good, fast and cheap, pick two. You can have a good and fast but it won't be cheap, you can have it good and cheap but it won't be fast. You can have it fast and cheap but it won't be good. So in technology you can have fast or secure, can't have both. So Bitcoin chose secure, so it's the most secure network but is not fast. So we're gonna have to build second and third layer systems just like Visa's not money. We use it like money. Every day everybody uses it but it's a payment rail and everyone says oh well we can't compete. Bitcoin can't compete. Of course not, not yet because it's only 10 years old. But it is a application of technology that will ultimately become a monetary revolution. I have this great chart that I use in these presentations. If you go back five thousand years, gold has been money for five thousand years. There've been seven hundred seventy five paper currencies in the history of mankind. Three quarters of them no longer exist. The Romans Solidus which wasn't paper it was actually a copper coin was the most powerful currency in the world for a millennia. Today it's a trinket, I have one in my bag, cost a dollar in Italy. In fact the word solid comes from that. If you had a Solidus you were a citizen, you were solid. Now that's gone away because governments spend too much and they crash and empires fall and all that good stuff, that'll happen again in America. But what happened is, paper currencies have this problem with being unsound money, fiat currencies eventually fall. So for five thousand years one ounce of gold bought a fine man's suit. In 1973 we left the gold standard. Nixon's calamity and we since then have started the slow long journey into calamity which is the disappearance of the purchasing power of our currency. Same thing happened in Zimbabwe or Venezuela or Argentina. All these things will happen because fiat is unsound money. So what I have is this great chart that looks like a big X and if you think about it, fiat started at 100 percent market share and it's going to zero. Crypto started at zero market share, it's going to a hundred. Not gonna happen overnight but it's going to happen over time. And cryptocurrency will replace fiat currency over the long term. It will also become payment rails. Then ultimately we'll have crypto bonds, crypto stocks that will be digital representations of those ownership assets and ultimately everything in the world. Frank Investors are known to be a finicky bunch right? How do you convince them along the ride like you know in my reporting over the course of 2018 there were LP lawsuits, there were funds shutting down especially on the Long Tail, most of these guys just operating out of their garage or their mother's basement but for a firm and institutional type firm like yourself, when you're looking at something that sounds so long term, something that's going to going to replace money. A new system of trust. How do you convince investors that this is worth their time over the next 10 years, especially when you have things like exchange hacks and you have things like network scalability issues which Teo's diving into all the time and the fact that we're not seeing merchant adoption on the Bitcoin front? Mark Education education education. Every technological advance takes longer than you think, has setbacks and things that people point at that say it's not going to work, it's not going to happen. The Internet: Paul Krugman said "it will never be more important than a fax machine" I'm thinking the Internet's more important than a fax machine. Frank Is that how you convince them? You just go to them and say here's what Paul Krugman said? Mark No it's about education. The first hurdle is to get them to stop thinking about it as a thing. Don't think of it as a thing that your nephew did and told you about it at Thanksgiving dinner and you put money in in 2017 and you lost a bunch because you speculated and you bought in at the price that was well above fair value and it went below fair value. Investing is a really simple concept right? If you buy things below fair value and you hold them, you make money. If you buy things above fair value and you hold them, you lose money. It's pretty simple. And so people who bought crypto in the you know herd of people in 2017 when Bitcoin was touching 20 thousand, lost a lot of money and they rightfully don't trust it. But they were investing for all the wrong reasons. They didn't understand the technology, they didn't even understand that it was technology. All they knew was it was something moving, it was shiny and that's true of everything. Internet stocks, Pets.com, MySpace, I was doing my research for a presentation I'm doing and there's actually a cover: Don't mess with MySpace. MySpace is going to out Google Google and out PayPal PayPal. They're gone, they disappeared. Technology is going to have winners, it's going to have losers and everyone has experienced that, particularly in the institutional world, they've all been through looking at a technology, whether through venture capital or private equity or private energy or other forms of private investing and it's always a small piece of their portfolio. The bulk of people's wealth is always in the public markets and the public markets the problem with it is you get lots of volatility and now you get the machines and high frequency trading and then you've got people doing stupid ass stuff like you know Long Island Iced Tea turning themselves into Long Island Blockchain . Frank I was there for that IPO. When I was at Nasdaq. I remember drafting the press release for Long Island Block.... Well no, it was Long Island Iced Tea at the time Mark And here's a crazy thing. We had a company back in the boom in 2000, so we'd invested in the company that helped companies turn their name to dot coms. That's all they did. It went public and our cost was 50 cents. Stock went public, traded to a hundred and four dollars. We were restricted, once we got off restriction I call the venture capital and ask what should we do? He says I can't talk because I'm an insider but I can say two things. Revenue, six million. Market cap, six billion and there was a silence and he asked Mark did you hear? Yeah I got to go, bye. Sell sell sell sell sell! And we sold around a hundred and it went to four. Think about that, if your cost is 50 cents, four is still an eight bagger, that's still pretty good. But we made two hundred X because we got out. The key is there are lots of those examples in institutional portfolios from a prudent allocation to venture capital, growth equity or private investments. The same education process around this, it's convincing that police officer that we were doing a fiduciarily correct thing and what he said was I can support that. In fact he was quoted in an article where the reporter's came in and said "what are you guys crazy investing in drug dealer money?" He said we're not investing drug dealer money. We're making a prudent diversifying investment in our portfolio so that we can achieve our long term actuary assumed rate and serve our beneficiaries. Matteo You mentioned this sound money and phenomenon. And the loss of purchasing power. Would you say that you consider yourself an Austrian economist, do you fall into that category? Have you always fallen into that category? Mark I probably lean that way. I'm not all in but I definitely don't believe in voodoo economics. You know like supply side economics. I definitely probably have a little bit less of a leaning toward the monetarists. I think inflation is not a monetary phenomenon, I think it's a demographic phenomenon. When you have a lot of young people you have a lot of inflation, when you have a lot of old people you have a lot deflation. So I think from a monetary perspective in terms of sound money I'm definitely more of an Austrian. I think the gold standard was right in the sense that for five thousand years it has been pretty consistent. Matteo But we've also seen some massive growth in GDP since the US moved off the gold standard. Mark Well I'll argue that has nothing to do with the gold standard and everything to do with demographics. As the baby boomers started turning forty five and from forty five to sixty five you're the most productive in your life. You spend the most. We also have a very good system of fractional reserve banking and fractional reserve banking is the key. To me it's the expansion of credit through fractional reserve banking. Now you can do that with sound money, you don't have to devalue the currency to have fractional reserve banking. If you do both, arguably you can juice the return. The problem is you get on this treadmill of if you don't continue to increase the liquidity and the credit you're going to crash and that's where we are today. That's why we had the president or the tweeter in chief telling us that the Fed must continue to cut rates. Frank What do you think of Herman Cain coming on board? Mark Well I guess I have to like the fact he said we should go back to the gold standard. I guess I have to like that but I don't like anything else about the guy. Matteo In order for Bitcoin to realize these asymmetric returns, does the dollar have to collapse? Do we have to see this return to a sound money economy? Mark Great question. No. For for Bitcoin to have truly asymmetric returns like the the 50X, 100X returns that some people believed. From this point forward, I think what you have to have is network effect continue and start to move out of, S curves are really interesting. So S curves, you start with the innovators, the 1 or 2 percent then you go to the early adopters and then you go to the late majority or the early majority rather than the late majority than the early adopters and then the masses. And we're only at the very knee of the curve. We're like 10, 11 percent adoption. So it's that exponential and human beings are bad at math generally. We're really bad at anything that's not linear like we can do linear math, two times two, four times four. But if you ask somebody 17 times 21 that's actually been proven to be the limit of human intelligence. People can't do that without a calculator. If you ask them to do squared or you know cubed or quad they can't do it. So that's part of the challenge, there's a great quote from Bill Gates . You mentioned it earlier Frank in the sense that we always overestimate what we can accomplish in two years and underestimate what we can accomplish in 10. And that's because we don't understand the compounding effect. Mark For Bitcoin to really achieve, I had this great tie that Vanek gave me it's got gold on one side and Bitcoin on the other with a little scale for Bitcoin gold equivalents and that's where I think the first step is, if gold is a seven and a half trillion dollar asset and Bitcoin gets there with 20 million coins or whatever we got 17 million coins, we can get somewhere between 400 and 500 thousand dollars per coin. They would say ah well that's ridiculous. Well no it's not ridiculous all we have to do is go to Satoshi's . And then the unit doesn't make people freak out, we can go to eight decimal places and make the per unit value pretty small but a single coin, of which there aren't enough of if every millionaire in the world wanted one, so we're going to end up with Satoshi's anyway. That demand I think has to come from organic growth and people saying I want to use it. I want to use it for its convenience but we need infrastructure. And that's why our first investment fund is all focused on infrastructure. We'll let other people who want to play in the speculating in the currency itself do that. And we have the digital asset index fund that we partnered with bit wise to give an institutional quality. We want be the S&P 500 of crypto. Why the S&P 500? Well the S&P 500 is run by a committee. So we have a committee and they decide what goes in what goes out and there's a second criteria which is it has to be things that aren't controlled by a single entity. So we kick out Stellar and and XRP not because we have anything against them but because they're centrally controlled. So we want that to become the S&P 500. There are lots of indices but people trust the brand of the S&P 500. And so over time we'd like people to have a portion of assets in crypto itself. But right now we want exchanges, protocols, tools, infrastructure, data, all those things. Frank But what are we going to see in the near term in terms of actual use cases rolling out, there's a lot of talk that we're looking at at The Block with centralized finance and you know synthetic derivatives and things like decentralized lending. This idea that Bitcoin will replace or at least eat into what gold functions as seems like something that's way down the line. Maybe 10, 15 years Mark I don't think it's way down the line at all. Ask any thirty five year old how much gold they have. Zero nada zip. Ask a sixty five year old how much Bitcoin have. Zero nada zip. So you've got this divide across generations. I'm not saying that Bitcoin will replace gold. I think it's digital gold. The problem with gold, I don't know if you've ever seen the movie Knight's Tale. It's one of my favorites, you got to watch it. Heath Ledger, classic. This weekend you got to watch it. Love this movie. It's all about jousting and you know the main character goes around winning these jousting tournaments and they always give him gold and there's this one scene where he's got a gold calf and he wants to give a piece to his squire and he literally bangs the calf and breaks off the legs and says here go do something with that. That's a really inexact way to divide your gold. It's also heavy. If you want to transport a lot of money across state lines it's really hard to do. Whereas, I say all the world's gold fits into Olympic sized swimming pools. All the Bitcoin in the world fits right here, on my phone. Now I don't have all of it in the world in fact I don't have any on my phone because I've been sim swapped twice, which is ridiculous. Frank Someone tried to steal your identity, right? Mark It's a crazy world that we live in. Frank I get the potential for Bitcoin to replace gold in some aspects especially among the younger folks but what do you see happening very soon, more broadly throughout crypto? Mark I think payment rails are already starting. I think you are starting to see people be willing to not just be a hodler but to actually use it as a medium of exchange. I think that's positive. I think you will see more people accept it. I was in New Orleans not for Mardi Gras because my wife didn't want to go then but right before and there were a couple of places in New Orleans that will accept Bitcoin for payment. There's not a lot but what we need is we need better wallets. We need better technology on our phones we need the ability to kind of segregate our hodling store of value stake and our payment piece, where we don't care if we spend a little and get a little. Frank We probably have to get more people like you, funds like you comfortable with investing in this market. What are the headaches when you think about allocating capital to this market. We talked about disclosures and such, there's a legal hurdle, there's an education hurdle. But just from the reporting and you think of things like in the traditional Wall Street world, things like prime brokers that extend leverage or rather margin to, what are we missing? Mark We're missing everything. We're making progress though, right? We have companies like BlockFi that are starting to make crypto loans. We've got infrastructure custodians that are starting to get qualified custody status that'll make the institutions happy. We need all of these things. Frank Yea but it's like a trust from North Dakota. Mark I understand, Wyoming's right behind was doing great work in Wyoming and now South Carolina is trying to copy what they've done. Good artists borrow, great artists steal. So we want to steal whatever we can get. We are still five years away from the point at which we deem this the next technological wave. This is the cool time to invest and there's so much that's going to change and so much is going to happen and every piece of it is incremental and iterative. But what I love about it and I say this all time, this is the greatest wealth creation opportunity I'm probably ever going to see in my lifetime. Why? Because when the Internet came along, it was building on, pardon my French although I said that once and someone said why do you say that we're not vulgar? So you know it's built on crappy shit. The stuff that was in the technology world at that point was not very good. Trying to do Netflix when it was first envisioned. Video on Demand didn't work because dial up modems were too slow and it almost died. I mean Netflix almost died and it wasn't until we got broadband and we kind of got that from the Koreans that we really started to seize that opportunity. So the same thing that has to happen is the technology of the Internet enabled all of the things around information exchange. In the old days I sent a letter to somebody. Three days later they got it. They spent a day thinking about it. They wrote something down, three days later I got it, I got a response. Think about that, that's seven days. I joke my wife can't wait seven seconds to get a response on a text. But the key is that that got even better when we went to mobile phones. The mobile net because the Internet had a few connected devices, personal computers. Now we have 10 billion cell phones, I don't know why we call them phones because no one talks on them but supercomputers that we hold in our hand, there's 10 billion connected devices. Within five years we'll have two hundred billion connected devices and that language, that operating system is blockchain and it's going to drive payment between things. You'll sit in your autonomous vehicle, you'll drive into the charging station, it will instantaneously charge and you'll drive away. The car will make the payment to the charging station, you won't get out I won't get out we'll be in the back doing whatever we do but the car will interact with the charging station or you'll walk into a store and you'll grab what you want and the payment will happen between your cart or your wallet or whatever and the thing. It's already happening. All these things are are going to be developed and the people who benefit the most are always the ones that embrace innovation as an asset class. As I said there are four assets: stocks, bonds, currencies and commodities. But I say there's a fifth asset which is innovation. If you look at the best investors on the planet whether it's Yale or Notre Dame or UNC or some of the good pension funds like Chris Aleman, it's CALSTRS or some of the others. There are these leaders who always figured out that it's innovation that drives wealth creation and this wealth creation opportunity is so much bigger. The Internet created multi multi-billion dollar companies centabillion dollar companies. The mobile net created the first trillion dollar companies with Apple and Amazon. This is going to create the first trillionaires. Frank But before that happens, it's still a 200 billion dollar market, there's still trillions of dollars of other assets floating around the world that you as an investor need to be thinking about and need to be thinking about where the opportunity is. We were watching the video of you on CNBC, you were calling for a disaster in 2019 . In terms of the stock market. Best Q1 I think since the 80s in terms of well we can get to... Mark It was only a good Q1 because you had such a crappy Q4. Frank But real quick though before we get into what your crystal ball about the markets is saying, before that I just want to know what you think about generally opportunities elsewhere outside of crypto as a fund. What do you look for, as a fund of funds and as a direct investor, what opportunities do you look for outside of crypto? Mark Our job as an advisor is to have a view on every asset. From stocks to bonds to currencies to commodities to private markets to public markets. And what's interesting is, I would say it's just math, #justmath and every asset has an intrinsic value and has the present value or current value and that current value can be above or below the intrinsic value and then it's either overvalued or undervalued. We like to buy undervalued things and sell overvalued things, pretty simple. Now the problem is things can become more overvalued. So let's just walk through all the assets. Cash last year in 2018 outperformed 98 percent of global assets. How many people were overweight cash last year? No one. Frank You guys were though, right? Mark We were overweight, we weren't super overweight. But think about that, cash outperformed 98 percent of global assets. Now all of that outperformance happened in three months. So you were you were underperforming for nine months until September 21st. That's when the bear market began in my mind. And since then the next three months you totally made it up and you actually went ahead for the year. So you fast forward and you say like this year you had a good first quarter in equities. Well that's true but it's only because you had such a crappy fourth quarter. Today U.S. stocks, global stocks, dead money since January 26, 2017. I'm sorry 2018. Since January 26, 2018 so 15 months, dead money, no return. That's not a good outcome. I'm going to argue that it's going to stay that way for the next decade. We're going to zero return in equities, public equities for the next decade. Why do I say that. Because we're at similar valuations that we were in 2000 and from 2000 to 2010 we had zero return. Now I think emerging markets will be exempt from that. There's good opportunities in emerging markets. And what you're seeing in many of those emerging markets are faster adoption of things related to crypto and other technologies because they're just more technologically aware. I mean I quote the stat all the time in South Korea for every engineer we graduate in the United States they graduate 17. For every lawyer they graduate in South Korea we graduate 40. I joke they're a country of wealth creation, we're a country of wealth redistribution. Last year we graduated 450,000 stem engineers. China graduated 4.5 million. They have 90 percent of the new patents on A.I. they're killing us with new technology. Matteo I had a question which was also going back. We were discussing innovation. And a lot of our conversation today has been focused around Bitcoin specifically. Bitcoin doesn't exist within a vacuum. What percentage probability do you assign to Bitcoin being the MySpace of the crypto market? Mark Well OK I thought I knew where you're going. I love it. I love the ending. Zero probability of being the MySpace. Because MySpace lost to Facebook and others because in a closed technology system a company can come along with new technology and ace you out. AltaVista, Lycos, web crawler were all much better search engines than Google but then Google innovated in a closed system and outperformed all of them, became number one. In an open source world post Red Hat. Now anytime someone innovates and comes up with something new, copy paste. You can take that tech and add it to your chain. In the open source world it's different. And so I think there's zero probability it becomes MySpace. I thought you were gonna ask what's the probability that it is the long term winner? And I actually think it's a reasonably high number, I won't put a number on it but a big number. Why do I think that? It's because the guy who won the Nobel Prize this year Paul Romer. I read a paper of his when I was in business school back in 87 and actually said at the time I thought the guy would win the Nobel Prize. It took 30 plus years for it to happen but he did actually win the Nobel Prize. He wrote this thing called the law of increasing returns and in that what he talks about is not the best technology that wins it's the technology that gets the greatest network effect the fastest. So VHS and Beta etc. And I think what Bitcoin has done, it was first. It has got the widest adoption and trust and therefore I think it will be one of the long term winners. Are there technological innovations that could occur that will do other things better? For sure. But what I also think's going to happen is Bitcoin is going to end up as a base layer and then there'll be other layers like lightning network and other things on top of it the same way that I have cash well actually I don't have cash but I used to have cash and then I have cards and I use the cards the same way as cash and now I have the Apple Pay which is even different than the card because it's using my card but it's a third layer's system. All those systems are going to emerge for crypto. And I think Bitcoin will be at the root of that. It may not be the only thing but I think It'll be one of them. Matteo That's very interesting. When you're speaking to institutions and your peers in the investment world where does Ethereum figure. Where do these other protocols figure? Mark It's a less politically correct analogy these days after the Khashoggi murder but I say that it's like Saudi. Bitcoin's the king and Ethereum's the Crown Prince and then there's all the other princes that hate each other. The other six thousand Saudi princes they all hate each other and really there's the king and the crown prince and that's all that matters. And so I think Ethereum is important. I think it is. There's only twelve-ish or I don't know what the exact number is cryptocurrency's, everything else is called cryptocurrency is not it's a utility token and some utility tokens are good, 90 plus percent of them are bad going to zero. But some of them are going to be amazing but the cryptocurrency as store of value or medium of exchange there's only a small number. Monero, Dash, Ethereum, Bitcoin. Matteo That's interesting. How do you tend to distinguish between a utility token and a cryptocurrency? Mark A utility token is like a Chucky Cheese token, it gives you access to a network or some privilege like airline miles whereas a cryptocurrency to me has to be either a store of value or medium of exchange and doesn't do anything else whereas you can also have other types of digital assets that don't have any of those functions. One of the challenges of ICOs, you know Pomp and Jason were really negative on ICOs and when they said we're not gonna do any ICOs. People said "Oh you're idiots" and everyone else did ICO funds and they've all gone to zero. Close enough. The reality is that most of those ICOs were bad because they don't give you access to cash flow or ownership. Like if I issued the Mark coin and I give you guys all in this room coins and then I take the money and I build out a string of buildings and call them Chucky Cheese and I give you the mark tokens and you go knock yourself out and have fun on the arcade. That's great for you, you get to play the games but what you should have said is that I want 50 percent of your business. I want to own a piece of that business. So utility tokens to me were a great way to crowdsource venture capital. The problem is preseed stage venture has a 90 plus percent loss ratio. And why people are expecting it to be any better than that is silly. So cryptocurrency, I said a dozen or so. I don't know what the exact number is, really interesting. Really good. I think long term winners. Ethereum is one of those. Frank I want to ask this to everyone who comes on the show, what you might have been wrong about over the past three months and how you might have in terms of your view of the market, crypto or otherwise have shifted that view? You were talking about how we're going to have in 2019 and we were about to get into it, a devastating year for the markets. How is that still your view despite that this is one of the best Q1 in many many years? How are you still of that view? What in the market are you seeing that the rest of the market isn't? You mentioned zombie companies Mark So first of all I'm wrong all the time and I don't have any ego about it in that to be a great investor you're actually wrong more than lousy investors because great investors actually are willing to put themselves out and take a stand and be wrong. Lousy investors never do anything, they're paralyzed so they're never wrong but they never make any money. The best investors in history, Julian Robertson, George Soros, Michael Steiner. Fifty eight percent of the time I aspire to be 50 something. The key is to when you're wrong cut your losses and when you're right double up. Most people double down and trim their winners. That's the wrong thing to do. Frank So are you doubling down or doubling up? Mark You asked why do I think we're still in a bear market and why do I think 2019 is gonna be a crappy year even though the first quarter was great? Because I think we are in a three year period just like 2000 2001 2002 and what people forget is in 2000 we had the tech bubble, we had crazy IPO's -- 81 percent didn't make any money. We just eclipsed that record with the Lyft IPO which we made a lot of money on but that's 82 percent of companies now don't make money. So we eclipse that record. We've got the highest number of companies that don't make money going public. Your point about zombie companies, we have the highest percentage of companies we've ever had that actually not only can they not pay off their debt, they can't service their debt with the last three years. So 16 percent of companies in the S&P fifteen hundred. So the top fifteen hundred companies in the United States, 16 percent, one in six can't service their debt with the money they make and one third, actually a little higher thirty five percent, of all the companies in the rest of 2000 make no money. That's bad and that's all because of QE and allowing bad things to exist and what I call participation trophy markets. What I said was two thousand was going to play out, I mean 2018 was gonna play out like two thousand. So we were basically flat to September and then we were up a little bit through September and then we crashed and we finished down in single digits. So in 2000 we were down nine in 2018 we are down four. So then what happened in 2001 is we had the last gasp rally return to normalcy. Have you ever seen the bubble chart? You get the new paradigm, then you get the crash and then you get the last little run up, that's called the return to normal before the big crash. And that's exactly what happened in 2001. We had a big run up, a 20 percent run up in second quarter between first and second quarter of 2001 and then starting in May we went down 30 percent. We rallied another 20 percent, we had two 20 percent rallies in 2001 and we still finished down 14 percent. So I think that's exactly what's happening here. The plunge protection team came and I was on TV on Christmas Eve and they asked what do you think's going on? Actually not on Christmas Eve on the twenty sixth after Christmas Eve and I was up in Chicago and they said what do you think's going on? I said I think they called the Plunge Protection Team. Since September 21st last year we're still down, since September 21st last year we're still down, only down 1 percent but we're still down. And so what people are missing is this is a normal way that a bear market works and I described it on TV as it's like a rubber ball bouncing down a set of stairs. Each bounce is higher ,that's just kinetic energy, the end of the trip is a bad place. So if I'm wrong on the bear market not playing out what I will have missed is here's the thing. First quarter earnings that were supposed to be double digit growth three months ago are now going to be down single digits. It's the steepest drop in 30 years for first quarter earnings estimates. Preannouncements by companies are over 77 percent negative. Haven't had that in 20 years and I think the earnings season of first quarter is going to be absolutely god awful. I think the only thing keeping the market up is buybacks. We had a I thought the record was as good as it could get last year. So I believe that the government cut a deal with companies. The Fed is not allowed to buy stock directly. Bank of Japan can buy stock. Swiss National Bank can buy stock. The Fed is not allowed to buy stock. So what I believe they did is said look we'll cut your taxes and you take that money and you buy back stock and in so doing you'll support the market. So eight hundred billion dollars of buybacks last year shattered the all time record by a factor of two. I thought we couldn't get higher than two hundred billion in fourth quarter. Two hundred and ninety billion dollars. We had outflows from mutual funds, we had outflows from ETF's. The only positive was buybacks. And if you watched the market, every day from about eleven o'clock in the morning till two thirty in the afternoon it goes straight up 45 degree line and what you want to watch is the first half hour, that's when the dumb money trades, that's when the retail money trades and that's usually what you're going to try to buy and if you watch the last half hour that's when the smart money trades and it's been distributing again and by distribution means it's selling, the last half hours always weak. All last year, last half hour was weak, first quarter last half hour strong. That was the buybacks and the ETF's. And then I'll say the plunge protection team. But here's the problem. Look at the volume. Look at Apple's volume in the last two weeks. Minuscule. I think to Monday we had the lowest volume day in the last twelve months. So it's not that lots of people are buying. It's that we have this short squeeze and buybacks and that is artificially holding up. And when that dam breaks and people actually see how bad first quarter earnings are and how bad the growth numbers are. IMF just downgraded global growth for the third time in six months but I could be wrong. Frank And just a close up because we were running out of time and there's people that are looking to kick us out. Is that good or bad for Bitcoin in one word? Mark It's agnostic for Bitcoin. There are a lot of things that are good for Bitcoin. What's good for Bitcoin is price is a liar. Don't look at the daily price. Look at all of the fundamental things. Growth in number of wallets, growth in transactions, transactions per block. All the fundamental metrics of blockchain I mean of Bitcoin are going positive. All the fundamentals of blockchain adoption and usage is positive. Focus on that. Frank Thank you so much for joining us today. Mark All right. Thanks for having me. It was fun. Frank We'd like to take a minute to thank our sponsor Cash App. Cash App has been the number one in finance on the App Store for almost two years. It was the first major peer to peer payments app to support Bitcoin and it's still the fastest and easiest way to onramp fiat. No more waiting five days for your ACH transfer to come through. With Cash App you can buy Bitcoin instantly. When you're ready to take full ownership of your private keys just use cash app to scan an external wallet's QR code. It's really that simple, cash app also comes with standard banking features like direct deposits and others your bank would never even consider like cash card, a customizable debit card that lets you instantly save every time you use it at Lyft, Whole Foods, Chipotle, Chick fil A, Starbucks, Dunkin, local coffee shops and a whole lot more. Download cash up today from the App Store or Google Play and thanks for listening. \|\| A Conversation with Mark Yusko, CEO and CIO of Morgan Creek Capital Management: The following transcript is taken from episode two of The Scoop, The Block's new podcast. Listen below and subscribe to The Scoop onApple,Spotify,Google Play,Stitcher, or wherever you listen to podcasts. Email feedback [email protected]. This transcript has been edited for clarity and length. In this episode of The Scoop, Frank Chaparro and Matteo Leibowitz interviewMark Yusko, CEO and CIO of Morgan Creek Capital Management. Mark is also Co-Founder & Partner of Morgan Creek Digital, an asset management firm focussed on investing across the blockchain and digital assets industry. Over the course of an hour long conversation, Mark discusses his investing philosophy, bullishness on Bitcoin and blockchain, which economic theories best describe reality, the mistake of moving off of a gold standard, and why financial markets in 2019 may be a repeat of the dotcom bomb. As Mark says in the opening "I'll give you the give you the short version, although I don't do short well." Frank ChaparroI hope you enjoy the episode. So we are, I mean I'm very excited for this podcast. I was telling Teo before we came down here that I really think that this thing is made by the guests who are, I don't know if they're just gracious enough or thrill seekers but I'm the weakest link, Teo's the weaker link and we have the strongest link sitting next to me on my right -- Mark the Chief Investment Officer and CEO ofMorgan Creek Capital. Mark YuskoYeah. Morgan Creek Capital Management then we'll get toMorgan Creek Digital Assetsin a little bit. FrankIt's basically a fund of funds, we were talking about the structure before we turned on the recording equipment. Mark thanks so much for coming down or coming up rather from Raleigh, North Carolina. MarkWoke up in North Carolina and here I am. FrankWell thanks so much for joining us. Tell us a bit about just what Morgan Creek is and how it all got started and what you guys are investing in. MarkYeah I'll give you the short version although I'll warn you I don't do short well so I'll try to stay short. But so I grew up in the investment world I worked for an insurance company, an asset manager and then I got the call to go back to the alma mater. I went to Notre Dame back in 93' was the assistant investment officer there for five years and then left to be the Chief Investment Officer at University of North Carolina. Traditional asset allocation, manager selection, portfolio construction. We didn't really make the direct investments, we allocated money to managers. I was approached by a couple of families back in 2004, left, formed a registered investment adviser called Morgan Creek Capital Management. In 2004 we started managing money for individuals, wealthy families, family offices, smaller institutions that didn't have staff and that morphed from advisory work to fund of funds work to hedge funds, private investments and then about five years ago, kind of started to get into the rabbit hole of crypto and blockchain and then a year and a half ago we launched Morgan Creek Digital Assets which is a subsidiary of Morgan Creek Capital Management. FrankBut it all started when you were at University of North Carolina. These families, how did they know of what you were doing? MarkGreat question. It's interesting, right? I went to North Carolina in 1998 and most people will not remember this but in 1996Julian Robertsonwho's a very famous UNC grad, famous hedge fund manager, ranTiger Managementand he had a tough year in 1996 and they wrote anarticle in Businessweek called The Fall of the Wizardand he was down 9 percent, the market was up 5 percent. And so North Carolina banned hedge funds. The board of North Carolina banned hedge funds. So I show up in 1998 and I said "well you know the best managers in the world manage these hedge funds. People like Julian and others, I want to invest" and they're like "oh well we banned hedge funds." I'm like "alright fine." We won't have any hedge funds, we'll have long short equity, opportunistic equity, enhanced fixed income and absolute return. And the chancellor says that's just nomenclature, right? I said Yeah. He said good as long as we're clear. So we did over the next two years leading up to the Y2K, move to about 40 plus percent in hedge funds, about 20 percent in private. And so from 2000-2002 when the average foundation endowment lost about a quarter of their assets when the market crashed in 2000, 2001, and 2002. We were flat. And so people heard about that and also I became known. It's kind of funny. Someone called me the Madonna of hedge funds because I was out there preaching hedge funds. FrankYou don't look like Madonna. MarkI don't look like Madonna, I don't sound like Madonna, I don't sing like Madonna. She's way more buff than I am. But I was out on the dais speaking at conferences saying you can't just be in stocks, bonds and cash. You've got to be in alternate investments, you've got to be in hedge funds. The talent is migrating from the traditional world to hedge funds and you've got to go there. FrankIt's interesting, there's almost a parallel about then in 2000, 2001 you were telling everybody this is where you need to be an investor. MarkIt's even more parallel, back then, first time 1996. We go to our board at Notre Dame before I went to UNC, said we want to invest in hedge funds, we'll invest in this guy Julian Robertson andDanny Ochand his group. AndRichard Perryand they're like, "No, that's where all the bad guys are. You know we're fiduciaries. We can't possibly invest in hedge funds. Those are risky.". FrankSo how did you convince them? MarkWell just showed them the data, right? Data doesn't lie. FrankUnless you're in crypto. MarkWell yeah unless you're in crypto. Right, right we could talk about that. So one of my early bosses said"figures lie and liars figure"but the data, the actual data doesn't lie. So what's interesting aboutMarkowitz theory, right? Harry Markowitz won the Nobel Prize and he said if you take bonds and you add stocks, risk goes down. If you add real estate and hedge funds, risk goes down. Everybody was like, no that can't be right. Well he won the Nobel Prize, it's right. And so we showed them the data, both at Notre Dame and then again at UNC. And the proof in the pudding is in the eating, right? Our results spoke for themselves. You know we had really good results as we increased our allocation. It makes sense, in what business do you know does the best person not charge the most money? Doctor, lawyer, football coach, basketball player, same thing with asset management. The worst people are going to stay managing index funds because it pays the least and the best are going to go run where they can get2 and 20. And so we saw this migration of talent and we follow the talent, follow the money, follow the talent and we allocated capital there and it worked. But it's very similar to today in that back then nobody wanted to do hedge funds. They were afraid of hedge funds, like I said UNC had banned hedge funds -- that's where all the evil dark sided people were and oh you're not American if you short stocks, I'm like no, it's really American to tell people to buy stuff that's egregiously overvalued that's going to go down. Yea that's really American. No what's American, is calling out frauds and fads and phonies and all the overvalued assets, that's what a good hedge fund manager does. We made those changes, that worked out so fast forward to today, where are all the bad guys? FrankIn crypto. MarkIn crypto. And so trying to convince people to go in that direction. What's interesting is that I have this partner, I think you've had him on the show or willl have him on the show. ButAnthony Pompliano or "Pomp"as everybody knows him. He's gothis own podcastand all this good stuff. But he and I met two years ago through an investment in Lyft and we're both making late stage venture investments. We also do early stage. He did some early stage stuff, something calledFull Tilt Capitaland we met and didn't spend much time together. We met, we did this investment. Great. About six months later I start following this guy on Twitter. Turns out it's Pomp and I like, like, like, like, like, everything he said either would have come out of my mouth or I'd said it -- I got to meet this guy. FrankI've got to find out what the virus is all about. MarkExactly. The virus is spreading. So we sit down for breakfast, get together for breakfast the next day and then the next week and then after a couple weeks I say we should work together. So, he describes it best in the sense of, sounds better when he says it but if you take the two groups, take the crypto kids -- they all wear black T-shirts and sit on the side of the river and they look across the other side and they look at the institutional old guys like me and say "don't look like them, don't like them, don't trust them'. And the old guys in the institutional business look across the river and say "don't look like those guys, don't trust them". And they're not going to work together but there in the middle, there's four or five guys who've crossed the chasm,John Burbank,Novogratz,Dan Moreheadand this Yusko guy and Pomp said well three of those guys are traders. We don't want to be traders but this Yusko guy, he's actually managed billions of dollars, he's got infrastructure he's got salespeople, he's got back office people. Maybe we could create this bridge across the river between the instititutional capital and the people who have this knowledge about this emerging technology. FrankBut before you and Pomp sort of came together ahead of your meeting of the minds and identified the synergy between the two firms, you had had your own crypto journey, right? You came into contact with Dan Morehead, the Tiger Management sort of mafia so to speak. And you had your own coming of age story with crypto from 2013 til when I guess you met Pomp maybe a year ago? When did the deal close? MarkWell we met in 2017 and we really put Morgan Creek Digital together last year in 2018. But yeah to your point, we all have a crypto journey, we all see the crypto light and I say what's interesting about this, is everyone I know who's intelligent starts skeptical. That's the way you should start, right? With anything new you should start skeptical. And then, I call it ignorance displacement theory, right?Archimedes discovered this displacement principleby getting in the bathtub and boom, the water displaced. And it's the same thing with ignorance. We all start ignorant about something -- that doesn't necessarily mean in the negative connotation, it just means we don't have knowledge. But as we gain knowledge about something, anything, how to play golf, how to play poker, whatever it is whether it's investing crypto... FrankRicky, which we play sometimes, you ever play Ricky? You gotta try it MarkNo, no so see I'm ignorant so I would be the patsy. If you're in a game for 20 minutes you don't know who the patsy is, stop playing. So we won't play. I was ignorant and so I met Dan Morehead who I had helped seed when he launched Pantera Macro when he spun out of Tiger. I've known Dan twenty five years, we've been investing with pretty much all the Tiger Cubs over the years on the hedge fund side. And we had a great relationship and he in 2013 said "hey I'm shutting down the macro fund, sending your money back and I'm going to do these two funds in crypto". I don't even know what you're talking about but tell me more. He says "well there's this thing Bitcoin, we're going to start aBitcoin fund and the founders of Fortress are putting money inand it is really interesting. And then I'm gonna do this infrastructure fund to back companies that are gonna help build that". I'm like ding ding ding ding ding. I'm a picks and shovels guy. I like infrastructure. Okay I'll do that. That was the first of my many bad decisions in crypto because that fund's been great. It's about a 9.6X. We'd all say that's awesome. I should have put the money in Bitcoin fund. That's like 86X including the crypto winter. It's the best performing hedge fund of all time. So fast forward another couple of years I'm starting to think more about this. I wrote, actually it was just a year, I wrote, remember when Bitcoin had bounced to a thousand and then it dropped about 400, first quarter of 14'. I write these long letters. I mean they're long, like 40 50 60 and my last one was 83 pages. "Why do you write such long letters? Like they're too hard to read". They're not for you. They're for me. It's how I learn, by writing and how I get my views. And so I wrote one paragraph on Bitcoin in a 60 page letter and I had clients say we'll fire you if you don't stop talking about this crazy stuff. FrankHow many? MarkPardon. FrankHow many clients? MarkHalf a dozen. Half a dozen people called, literally took time out of their day. So that means how many people thought it? But half a dozen people called up and said stop talking about this. This is crazy. We don't wanna hear about Bitcoin. Now that was at 400 but it went to one hundred seventy five. Okay. They were right. That was September that year. And then boom, goes all the way back to 1000. So, 2015 my son's graduating from Notre Dame where we all went and I said go meet with Dan and just talk to some companies and he talked to a couple of companies, Coinbase and a couple others and he comes and he says "I don't know Dad I just I really want to live in San Francisco but I think I'm going to go with KPMG." Safe, easy. Okay great. Great decision. So we're having Thanksgiving dinner last year and he's like "All right fine. You were right. I should go gone with one of the crypto companies. But you're not as smart as you think you are." I'm like "oh, tell me why?" He says, "you didn't mortgage the house up and put it all on Bitcoin." I'm like "Ah, touché!". All right. So again, told you I've made many bad decisions but the key was I had this beginning of this relationship with the infrastructure side vested in Coinbase andXapoand a couple other infrastructure companies.Korbit, good outcomes. Then we started to dabble in crypto itself and that was kind of 2015, '16 and a couple of our clients instead of saying they'd fire us they said, this is interesting, tell me more and it did a little bit. And one of the good things, we weren't as forceful. FrankNow was that through the hedge fund part of the business? MarkIt was in our private side of the business. So we have private funds that do fund of funds. We have hedge funds of funds and a hedge fund. And so we did everything more in our private funds. FrankAnd so what was the exposure to clients in terms of...? MarkWhat we told people was we should do 1 percent in crypto itself because of the asymmetry of it and then you should put another couple percent in infrastructure related to it. So a couple, 2-3 percent, not crazy allocations but we thought the asymmetry was really high. And when you look at traditional assets today, one of our big themes right now is get off zero#getoffzero from Twitter. And the key is that 0, 10 years from now you look back it's going to be the wrong answer. As a fiduciary, no exposure crypto assets are going to be the wrong answer. So it doesn't have to be 10 or 20 or 30 percent because the asymmetry is so large. So we started to small, started to allocate and that's when I had this meeting with Anthony and a couple other people too. But it was really that meeting with Anthony 18 months ago. MarkSo we started down the path of building what we called Morgan Creek Blockchain Opportunity Fund. So we had the documents we were all ready to go and Pomp and his partner Jason Williams had this thing called Full Tilt Capital, they were doing early stage investing, kind of professionalizing friends and family. And we got together and said hey let's merge, we'll bring you guys on as the team to do the blockchain opportunity fund and we'll flip flop our normal model. Our normal model was 70 percent funds, external managers, 30 percent co investments. So we'll flip flop it and we'll go 70 percent in direct deals, we'll go 15 percent in external managers so we'll invest in a Pantera or Blockchain Capital or something else and then we'll do up to 15 percent directly into crypto. And so, we launched that, we went out to raise 25 million bucks. We actually were oversubscribed,we raised 40. But the big thing is we got institutions to come in. We got six institutions, because most of the money so far has been high networth individuals but we got six institutions and the big one for us is we got two public pension funds and that was amazing because they're usually not early adopters but we had two great CIO's, real leaders. They both invested personally. We got to their boards and survived the board meeting ordeal. FrankThat's interesting, we can get into that like what maybe the board meetings were like but something that I was thinking about when that news came out you know 2 massive, I think it was the fireman's fund of Fairfax County. Right. To what degree is this something that's going to impact the investment return of the folks that're investing for when it's just this massive fund that, at the end of the day is only getting limited amount of exposure is it that big of an ask to convince them? MarkThat's a really good question and a lot of people would say no. If you only put you know half a percent or 1 percent, it can't move the needle. Not true, venture capital. So 1996 I was at Notre Dame and we invested five million dollars in this venture capital company called Sequoia. In 1996 Sequoia was not famous,Michael Moritzhadn't even done a deal yet. He was a reporter for The Wall Street Journal. Don Valentine hired him over and we backed him, of that five million dollar investment they put half a million into this little company called Google and we took out two hundred million dollars. There should be a quad at Notre Dame called the Google quad. So you can have little tiny investments, make a gigantic impact on the overall fund, if they have the right asymmetry. You're never gonna get a 400X return buying stocks in an index fund. You're never going to get a 400 percent return buying bonds or high yield bonds or even... FrankBut when a massive pension fund is investing hundreds of millions of dollars. The point I'm trying to get at is do they really care if they're going to throw a couple million or small percent? MarkAbsolutely they care. FrankWhy do they care? MarkBecause venture capital is all about asymmetry and what you're doing is you're making small bets in areas where you can get in front of a big trend. Whether it be cloud computing. Whether it be blockchain technology and we can spend I mean I'd love to spend time talking about this is -- what people confuse is they think crypto is a thing. They think that you know Bitcoin's a thing. What they're missing is this is a technological evolution -- that's what I wrotemy last letter on financial natural selection and Darwin. This is the evolution of technology. Started in the 50s 1954 the mainframe, 68 with the microchip, 82 at the personal computer, 96 with the Internet, 2010 with the mobile net and 2024 we're still five years from now is the trust net (my term, use it liberally) and we want to call it the internet of things or the internet of value but it's the trust net. We're using blockchain technology to establish a single point of truth or trust and we don't need that intermediate trusted third party and what it does is the same way DOS created an operating system for computers, personal computers. And Steve Ballmer, in 1982 going to work for Microsoft. His mom's like why would anyone want a computer in their house? He has 18 billion reasons to say mom I was right. So then in 2010, or in actually 2005 Google bought Android, people were saying what're you doing buying Android? Well now they have 80 percent market share globally of mobile phones operating system. And so the same thing is going to happen here with blockchain over the next 5, 8, 10 years. Blockchain will drive every meaningful company, every meaningful network, every meaningful system on the planet. It is this technological wave that will give early investors huge multiples. FrankThis is the pitch. This is something like what you might have been saying in front of the board potentially? MarkPerfect example, in the board meeting, police board. Two and a half hour board meeting, we're grilled every which way from Sunday, right? They had a 200 page due diligence questionnaire that we had to fill out. You know Pomp tells the story great, he's like I've never written 200 pages in my whole life about anything. And you know I was operating out of a coffee shop so I couldn't do a 200 page due diligence document. We already had it done. So that was why the institution trusts Morgan Creek. We want to be the trusted advisor to the digital age or in the digital age. We want to be somebody that institutions can trust because we come from the old world embracing the new world. And so we're at this board meeting, two and a half hours. We get to the very end and it's right out of central casting. Police officer, Harley Davidson parked outside, helmet, uniform, helmet on the table, gun on the table, sunglasses, mustache, right off a TV screen. And he says "All right let me get this straight. I've got to go tell my guys that I just approved putting their pension in drug dealer money" and I'm like "whoa no no that is not what you're going to tell them. No, what you're gonna tell them is this, that today as a fiduciary you look at bonds and you're gonna make 3 percent for the next 10 years. You look at equities you're gonna be lucky to make 3 percent. We have an actuary assumed rate of seven and a half. The only way we're gonna get that is by having diversifying assets that have a greater asymmetry to them." And that's venture capital and venture capital in new technology that is going to use this emerging technology and make it mainstream. If you think about new technology the first users are always the bad guys. Who was the first person with a pager? Drug dealer. Who was the first person with a cell phone? Drug dealer. Who's first person to use the Internet? Frank100 percent. I mean I have an uncle who worked in the telephone industry in the 1980s and he was telling me how like back then, it was a conversation over Thanksgiving dinner where you know obviously I talk about what I write about, what I do and how the industry as you alluded to before is associated with criminals crooks etc. and he was saying "Well, Frankie back in the 80s when grandpa Bill and I were working in the telephone industry what we would do is we would sell". Actually I honestly don't think I should say this. They would basically configure the technology so that you could skip ahead calls and so you skip ahead calls and so everyone would look at telephones as in the beginning as this sort of shady thing. And I think every new technology has that. Matteo LeibowitzI have a question. So when you're pitching to these funds and to other clients, do you pitch this as a technological revolution or as a monetary revolution? MarkSo yes and yes. It is going to evolve even within the technology itself. And if you think about it, today we have the most successful blockchain is the Bitcoin blockchain, right? Most powerful supercomputer in the world 1,500X more powerful than the next highest supercomputer. Never had a fraudulent transaction. Never had one second of downtime. Bar none most powerful computing system in the world. Okay that's interesting but what is it really good for? Well right now it's really a store of value. It's digital gold. Now it's also being speculated in but it really is digital gold. So it's a crypto commodity. And at the end of the day there are only four assets that people can invest in: stocks, bonds, currencies, commodities. Ultimately we had analog, right? Physical pieces of paper. Then they went electronic, where we are today we have cue sips that represent analog physical pieces of paper at DTCC. And eventually we'll have digital. Crypto, another word for digital just means cryptographically secure. So we have crypto commodities, right? Bitcoin is a crypto commodity. Now people want it. Satoshi son theoretically wanted to be a cryptocurrency -- a medium of exchange, a payment rail that will come. The challenge is, it's like when you're building a house.Good, fast and cheap, pick two.You can have a good and fast but it won't be cheap, you can have it good and cheap but it won't be fast. You can have it fast and cheap but it won't be good. So in technology you can have fast or secure, can't have both. So Bitcoin chose secure, so it's the most secure network but is not fast. So we're gonna have to build second and third layer systems just like Visa's not money. We use it like money. Every day everybody uses it but it's a payment rail and everyone says oh well we can't compete. Bitcoin can't compete. Of course not, not yet because it's only 10 years old. But it is a application of technology that will ultimately become a monetary revolution. I have this great chart that I use in these presentations. If you go back five thousand years, gold has been money for five thousand years. There've been seven hundred seventy five paper currencies in the history of mankind. Three quarters of them no longer exist. TheRomans Soliduswhich wasn't paper it was actually a copper coin was the most powerful currency in the world for a millennia. Today it's a trinket, I have one in my bag, cost a dollar in Italy. In fact the word solid comes from that. If you had a Solidus you were a citizen, you were solid. Now that's gone away because governments spend too much and they crash and empires fall and all that good stuff, that'll happen again in America. But what happened is, paper currencies have this problem with being unsound money, fiat currencies eventually fall. So for five thousand years one ounce of gold bought a fine man's suit. In 1973 we left the gold standard. Nixon's calamity and we since then have started the slow long journey into calamity which is the disappearance of the purchasing power of our currency. Same thing happened in Zimbabwe or Venezuela or Argentina. All these things will happen because fiat is unsound money. So what I have is this great chart that looks like a big X and if you think about it, fiat started at 100 percent market share and it's going to zero. Crypto started at zero market share, it's going to a hundred. Not gonna happen overnight but it's going to happen over time. And cryptocurrency will replace fiat currency over the long term. It will also become payment rails. Then ultimately we'll have crypto bonds, crypto stocks that will be digital representations of those ownership assets and ultimately everything in the world. FrankInvestors are known to be a finicky bunch right? How do you convince them along the ride like you know in my reporting over the course of 2018 there were LP lawsuits, there were funds shutting down especially on the Long Tail, most of these guys just operating out of their garage or their mother's basement but for a firm and institutional type firm like yourself, when you're looking at something that sounds so long term, something that's going to going to replace money. A new system of trust. How do you convince investors that this is worth their time over the next 10 years, especially when you have things likeexchange hacksand you have things likenetwork scalabilityissues which Teo's diving into all the time and the fact that we're not seeing merchant adoption on the Bitcoin front? MarkEducation education education. Every technological advance takes longer than you think, has setbacks and things that people point at that say it's not going to work, it's not going to happen. The Internet:Paul Krugman said "it will never be more important than a fax machine"I'm thinking the Internet's more important than a fax machine. FrankIs that how you convince them? You just go to them and say here's what Paul Krugman said? MarkNo it's about education. The first hurdle is to get them to stop thinking about it as a thing. Don't think of it as a thing that your nephew did and told you about it at Thanksgiving dinner and you put money in in 2017 and you lost a bunch because you speculated and you bought in at the price that was well above fair value and it went below fair value. Investing is a really simple concept right? If you buy things below fair value and you hold them, you make money. If you buy things above fair value and you hold them, you lose money. It's pretty simple. And so people who bought crypto in the you know herd of people in 2017 when Bitcoin was touching 20 thousand, lost a lot of money and they rightfully don't trust it. But they were investing for all the wrong reasons. They didn't understand the technology, they didn't even understand that it was technology. All they knew was it was something moving, it was shiny and that's true of everything. Internet stocks, Pets.com, MySpace, I was doing my research for a presentation I'm doing and there's actually a cover:Don't mess with MySpace.MySpace is going to out Google Google and out PayPal PayPal. They're gone, they disappeared. Technology is going to have winners, it's going to have losers and everyone has experienced that, particularly in the institutional world, they've all been through looking at a technology, whether through venture capital or private equity or private energy or other forms of private investing and it's always a small piece of their portfolio. The bulk of people's wealth is always in the public markets and the public markets the problem with it is you get lots of volatility and now you get the machines and high frequency trading and then you've got people doing stupid ass stuff like you knowLong Island Iced Tea turning themselves into Long Island Blockchain. FrankI was there for that IPO.When I was at Nasdaq. I remember drafting the press release for Long Island Block.... Well no, it was Long Island Iced Tea at the time MarkAnd here's a crazy thing. We had a company back in the boom in 2000, so we'd invested in the company that helped companies turn their name to dot coms. That's all they did. It went public and our cost was 50 cents. Stock went public, traded to a hundred and four dollars. We were restricted, once we got off restriction I call the venture capital and ask what should we do? He says I can't talk because I'm an insider but I can say two things. Revenue, six million. Market cap, six billion and there was a silence and he asked Mark did you hear? Yeah I got to go, bye. Sell sell sell sell sell! And we sold around a hundred and it went to four. Think about that, if your cost is 50 cents, four is still an eight bagger, that's still pretty good. But we made two hundred X because we got out. The key is there are lots of those examples in institutional portfolios from a prudent allocation to venture capital, growth equity or private investments. The same education process around this, it's convincing that police officer that we were doing a fiduciarily correct thing and what he said was I can support that. In fact he was quoted in an article where the reporter's came in and said "what are you guys crazy investing in drug dealer money?" He said we're not investing drug dealer money. We're making a prudent diversifying investment in our portfolio so that we can achieve our long term actuary assumed rate and serve our beneficiaries. MatteoYou mentioned this sound money and phenomenon. And the loss of purchasing power. Would you say that you consider yourself an Austrian economist, do you fall into that category? Have you always fallen into that category? MarkI probably lean that way. I'm not all in but I definitely don't believe in voodoo economics. You know like supply side economics. I definitely probably have a little bit less of a leaning toward the monetarists. I think inflation is not a monetary phenomenon, I think it's a demographic phenomenon. When you have a lot of young people you have a lot of inflation, when you have a lot of old people you have a lot deflation. So I think from a monetary perspective in terms of sound money I'm definitely more of an Austrian. I think the gold standard was right in the sense that for five thousand years it has been pretty consistent. MatteoBut we've also seen some massive growth in GDP since the US moved off the gold standard. MarkWell I'll argue that has nothing to do with the gold standard and everything to do with demographics. As the baby boomers started turning forty five and from forty five to sixty five you're the most productive in your life. You spend the most. We also have a very good system of fractional reserve banking and fractional reserve banking is the key. To me it's the expansion of credit through fractional reserve banking. Now you can do that with sound money, you don't have to devalue the currency to have fractional reserve banking. If you do both, arguably you can juice the return. The problem is you get on this treadmill of if you don't continue to increase the liquidity and the credit you're going to crash and that's where we are today. That's why we had the president or the tweeter in chief telling us that the Fed must continue to cut rates. FrankWhat do you think of Herman Cain coming on board? MarkWell I guess I have to like the fact he said we should go back to the gold standard. I guess I have to like that but I don't like anything else about the guy. MatteoIn order for Bitcoin to realize these asymmetric returns, does the dollar have to collapse? Do we have to see this return to a sound money economy? MarkGreat question. No. For for Bitcoin to have truly asymmetric returns like the the 50X, 100X returns that some people believed. From this point forward, I think what you have to have is network effect continue and start to move out of, S curves are really interesting. So S curves, you start with the innovators, the 1 or 2 percent then you go to the early adopters and then you go to the late majority or the early majority rather than the late majority than the early adopters and then the masses. And we're only at the very knee of the curve. We're like 10, 11 percent adoption. So it's that exponential and human beings are bad at math generally. We're really bad at anything that's not linear like we can do linear math, two times two, four times four. But if you ask somebody 17 times 21 that's actually been proven to be the limit of human intelligence. People can't do that without a calculator. If you ask them to do squared or you know cubed or quad they can't do it. So that's part of the challenge, there'sa great quote from Bill Gates. You mentioned it earlier Frank in the sense that we always overestimate what we can accomplish in two years and underestimate what we can accomplish in 10. And that's because we don't understand the compounding effect. MarkFor Bitcoin to really achieve, I had this great tie that Vanek gave me it's got gold on one side and Bitcoin on the other with a little scale for Bitcoin gold equivalents and that's where I think the first step is, if gold is a seven and a half trillion dollar asset and Bitcoin gets there with 20 million coins or whatever we got 17 million coins, we can get somewhere between 400 and 500 thousand dollars per coin. They would say ah well that's ridiculous. Well no it's not ridiculous all we have to do is go toSatoshi's. And then the unit doesn't make people freak out, we can go to eight decimal places and make the per unit value pretty small but a single coin, of which there aren't enough of if every millionaire in the world wanted one, so we're going to end up with Satoshi's anyway. That demand I think has to come from organic growth and people saying I want to use it. I want to use it for its convenience but we need infrastructure. And that's why our first investment fund is all focused on infrastructure. We'll let other people who want to play in the speculating in the currency itself do that. And we have the digital asset index fund that we partnered with bit wise to give an institutional quality. We want be the S&P 500 of crypto. Why the S&P 500? Well the S&P 500 is run by a committee. So we have a committee and they decide what goes in what goes out and there's a second criteria which is it has to be things that aren't controlled by a single entity. So we kick out Stellar and and XRP not because we have anything against them but because they're centrally controlled. So we want that to become the S&P 500. There are lots of indices but people trust the brand of the S&P 500. And so over time we'd like people to have a portion of assets in crypto itself. But right now we want exchanges, protocols, tools, infrastructure, data, all those things. FrankBut what are we going to see in the near term in terms of actual use cases rolling out, there's a lot of talk that we're looking at at The Block with centralized finance and you know synthetic derivatives and things like decentralized lending. This idea that Bitcoin will replace or at least eat into what gold functions as seems like something that's way down the line. Maybe 10, 15 years MarkI don't think it's way down the line at all. Ask any thirty five year old how much gold they have. Zero nada zip. Ask a sixty five year old how much Bitcoin have. Zero nada zip. So you've got this divide across generations. I'm not saying that Bitcoin will replace gold. I think it's digital gold. The problem with gold, I don't know if you've ever seen the movie Knight's Tale. It's one of my favorites, you got to watch it. Heath Ledger, classic. This weekend you got to watch it. Love this movie. It's all about jousting and you know the main character goes around winning these jousting tournaments and they always give him gold and there's this one scene where he's got a gold calf and he wants to give a piece to his squire and he literally bangs the calf and breaks off the legs and says here go do something with that. That's a really inexact way to divide your gold. It's also heavy. If you want to transport a lot of money across state lines it's really hard to do. Whereas, I say all the world's gold fits into Olympic sized swimming pools. All the Bitcoin in the world fits right here, on my phone. Now I don't have all of it in the world in fact I don't have any on my phone because I've been sim swapped twice, which is ridiculous. FrankSomeone tried to steal your identity, right? MarkIt's a crazy world that we live in. FrankI get the potential for Bitcoin to replace gold in some aspects especially among the younger folks but what do you see happening very soon, more broadly throughout crypto? MarkI think payment rails are already starting. I think you are starting to see people be willing to not just be a hodler but to actually use it as a medium of exchange. I think that's positive. I think you will see more people accept it. I was in New Orleans not for Mardi Gras because my wife didn't want to go then but right before and there were a couple of places in New Orleans that will accept Bitcoin for payment. There's not a lot but what we need is we need better wallets. We need better technology on our phones we need the ability to kind of segregate our hodling store of value stake and our payment piece, where we don't care if we spend a little and get a little. FrankWe probably have to get more people like you, funds like you comfortable with investing in this market. What are the headaches when you think about allocating capital to this market. We talked about disclosures and such, there's a legal hurdle, there's an education hurdle. But just from the reporting and you think of things like in the traditional Wall Street world, things like prime brokers that extend leverage or rather margin to, what are we missing? MarkWe're missing everything. We're making progress though, right? We have companies likeBlockFithat are starting to make crypto loans. We've got infrastructure custodians that are starting to get qualified custody status that'll make the institutions happy. We need all of these things. FrankYea but it's like a trust from North Dakota. MarkI understand, Wyoming's right behind was doing great work in Wyoming and now South Carolina is trying to copy what they've done. Good artists borrow, great artists steal. So we want to steal whatever we can get. We are still five years away from the point at which we deem this the next technological wave. This is the cool time to invest and there's so much that's going to change and so much is going to happen and every piece of it is incremental and iterative. But what I love about it and I say this all time, this is the greatest wealth creation opportunity I'm probably ever going to see in my lifetime. Why? Because when the Internet came along, it was building on, pardon my French although I said that once and someone said why do you say that we're not vulgar? So you know it's built on crappy shit. The stuff that was in the technology world at that point was not very good. Trying to do Netflix when it was first envisioned. Video on Demand didn't work because dial up modems were too slow and it almost died. I mean Netflix almost died and it wasn't until we got broadband and we kind of got that from the Koreans that we really started to seize that opportunity. So the same thing that has to happen is the technology of the Internet enabled all of the things around information exchange. In the old days I sent a letter to somebody. Three days later they got it. They spent a day thinking about it. They wrote something down, three days later I got it, I got a response. Think about that, that's seven days. I joke my wife can't wait seven seconds to get a response on a text. But the key is that that got even better when we went to mobile phones. The mobile net because the Internet had a few connected devices, personal computers. Now we have 10 billion cell phones, I don't know why we call them phones because no one talks on them but supercomputers that we hold in our hand, there's 10 billion connected devices. Within five years we'll have two hundred billion connected devices and that language, that operating system is blockchain and it's going to drive payment between things. You'll sit in your autonomous vehicle, you'll drive into the charging station, it will instantaneously charge and you'll drive away. The car will make the payment to the charging station, you won't get out I won't get out we'll be in the back doing whatever we do but the car will interact with the charging station or you'll walk into a store and you'll grab what you want and the payment will happen between your cart or your wallet or whatever and the thing. It's already happening. All these things are are going to be developed and the people who benefit the most are always the ones that embrace innovation as an asset class. As I said there are four assets: stocks, bonds, currencies and commodities. But I say there's a fifth asset which is innovation. If you look at the best investors on the planet whether it's Yale or Notre Dame or UNC or some of the good pension funds like Chris Aleman, it'sCALSTRSor some of the others. There are these leaders who always figured out that it's innovation that drives wealth creation and this wealth creation opportunity is so much bigger. The Internet created multi multi-billion dollar companies centabillion dollar companies. The mobile net created the first trillion dollar companies with Apple and Amazon. This is going to create the first trillionaires. FrankBut before that happens, it's still a 200 billion dollar market, there's still trillions of dollars of other assets floating around the world that you as an investor need to be thinking about and need to be thinking about where the opportunity is. We were watchingthe video of you on CNBC, you were calling for a disaster in 2019. In terms of the stock market. Best Q1 I think since the 80s in terms of well we can get to... MarkIt was only a good Q1 because you had such a crappy Q4. FrankBut real quick though before we get into what your crystal ball about the markets is saying, before that I just want to know what you think about generally opportunities elsewhere outside of crypto as a fund. What do you look for, as a fund of funds and as a direct investor, what opportunities do you look for outside of crypto? MarkOur job as an advisor is to have a view on every asset. From stocks to bonds to currencies to commodities to private markets to public markets. And what's interesting is, I would say it's just math, #justmath and every asset has an intrinsic value and has the present value or current value and that current value can be above or below the intrinsic value and then it's either overvalued or undervalued. We like to buy undervalued things and sell overvalued things, pretty simple. Now the problem is things can become more overvalued. So let's just walk through all the assets. Cash last year in 2018 outperformed 98 percent of global assets. How many people were overweight cash last year? No one. FrankYou guys were though, right? MarkWe were overweight, we weren't super overweight. But think about that, cash outperformed 98 percent of global assets. Now all of that outperformance happened in three months. So you were you were underperforming for nine months until September 21st. That's when the bear market began in my mind. And since then the next three months you totally made it up and you actually went ahead for the year. So you fast forward and you say like this year you had a good first quarter in equities. Well that's true but it's only because you had such a crappy fourth quarter. Today U.S. stocks, global stocks, dead money since January 26, 2017. I'm sorry 2018. Since January 26, 2018 so 15 months, dead money, no return. That's not a good outcome. I'm going to argue that it's going to stay that way for the next decade. We're going to zero return in equities, public equities for the next decade. Why do I say that. Because we're at similar valuations that we were in 2000 and from 2000 to 2010 we had zero return. Now I think emerging markets will be exempt from that. There's good opportunities in emerging markets. And what you're seeing in many of those emerging markets are faster adoption of things related to crypto and other technologies because they're just more technologically aware. I mean I quote the stat all the time in South Korea for every engineer we graduate in the United States they graduate 17. For every lawyer they graduate in South Korea we graduate 40. I joke they're a country of wealth creation, we're a country of wealth redistribution. Last year we graduated 450,000 stem engineers. China graduated 4.5 million. They have 90 percent of the new patents on A.I. they're killing us with new technology. MatteoI had a question which was also going back. We were discussing innovation. And a lot of our conversation today has been focused around Bitcoin specifically. Bitcoin doesn't exist within a vacuum. What percentage probability do you assign to Bitcoin being the MySpace of the crypto market? MarkWell OK I thought I knew where you're going. I love it. I love the ending. Zero probability of being the MySpace. Because MySpace lost to Facebook and others because in a closed technology system a company can come along with new technology and ace you out. AltaVista, Lycos, web crawler were all much better search engines than Google but then Google innovated in a closed system and outperformed all of them, became number one. In an open source world post Red Hat. Now anytime someone innovates and comes up with something new, copy paste. You can take that tech and add it to your chain. In the open source world it's different. And so I think there's zero probability it becomes MySpace. I thought you were gonna ask what's the probability that it is the long term winner? And I actually think it's a reasonably high number, I won't put a number on it but a big number. Why do I think that? It's because the guy who won the Nobel Prize this year Paul Romer. I read a paper of his when I was in business school back in 87 and actually said at the time I thought the guy would win the Nobel Prize. It took 30 plus years for it to happen but he did actually win the Nobel Prize. He wrote this thing called the law of increasing returns and in that what he talks about is not the best technology that wins it's the technology that gets the greatest network effect the fastest. So VHS and Beta etc. And I think what Bitcoin has done, it was first. It has got the widest adoption and trust and therefore I think it will be one of the long term winners. Are there technological innovations that could occur that will do other things better? For sure. But what I also think's going to happen is Bitcoin is going to end up as a base layer and then there'll be other layers like lightning network and other things on top of it the same way that I have cash well actually I don't have cash but I used to have cash and then I have cards and I use the cards the same way as cash and now I have the Apple Pay which is even different than the card because it's using my card but it's a third layer's system. All those systems are going to emerge for crypto. And I think Bitcoin will be at the root of that. It may not be the only thing but I think It'll be one of them. MatteoThat's very interesting. When you're speaking to institutions and your peers in the investment world where does Ethereum figure. Where do these other protocols figure? MarkIt's a less politically correct analogy these days after the Khashoggi murder but I say that it's like Saudi. Bitcoin's the king and Ethereum's the Crown Prince and then there's all the other princes that hate each other. The other six thousand Saudi princes they all hate each other and really there's the king and the crown prince and that's all that matters. And so I think Ethereum is important. I think it is. There's only twelve-ish or I don't know what the exact number is cryptocurrency's, everything else is called cryptocurrency is not it's a utility token and some utility tokens are good, 90 plus percent of them are bad going to zero. But some of them are going to be amazing but the cryptocurrency as store of value or medium of exchange there's only a small number. Monero, Dash, Ethereum, Bitcoin. MatteoThat's interesting. How do you tend to distinguish between a utility token and a cryptocurrency? MarkA utility token is like a Chucky Cheese token, it gives you access to a network or some privilege like airline miles whereas a cryptocurrency to me has to be either a store of value or medium of exchange and doesn't do anything else whereas you can also have other types of digital assets that don't have any of those functions. One of the challenges of ICOs, you know Pomp and Jason were really negative on ICOs and when they said we're not gonna do any ICOs. People said "Oh you're idiots" and everyone else did ICO funds and they've all gone to zero. Close enough. The reality is that most of those ICOs were bad because they don't give you access to cash flow or ownership. Like if I issued the Mark coin and I give you guys all in this room coins and then I take the money and I build out a string of buildings and call them Chucky Cheese and I give you the mark tokens and you go knock yourself out and have fun on the arcade. That's great for you, you get to play the games but what you should have said is that I want 50 percent of your business. I want to own a piece of that business. So utility tokens to me were a great way to crowdsource venture capital. The problem is preseed stage venture has a 90 plus percent loss ratio. And why people are expecting it to be any better than that is silly. So cryptocurrency, I said a dozen or so. I don't know what the exact number is, really interesting. Really good. I think long term winners. Ethereum is one of those. FrankI want to ask this to everyone who comes on the show, what you might have been wrong about over the past three months and how you might have in terms of your view of the market, crypto or otherwise have shifted that view? You were talking about how we're going to have in 2019 and we were about to get into it, a devastating year for the markets. How is that still your view despite that this is one of the best Q1 in many many years? How are you still of that view? What in the market are you seeing that the rest of the market isn't? You mentioned zombie companies MarkSo first of all I'm wrong all the time and I don't have any ego about it in that to be a great investor you're actually wrong more than lousy investors because great investors actually are willing to put themselves out and take a stand and be wrong. Lousy investors never do anything, they're paralyzed so they're never wrong but they never make any money. The best investors in history, Julian Robertson, George Soros, Michael Steiner. Fifty eight percent of the time I aspire to be 50 something. The key is to when you're wrong cut your losses and when you're right double up. Most people double down and trim their winners. That's the wrong thing to do. FrankSo are you doubling down or doubling up? MarkYou asked why do I think we're still in a bear market and why do I think 2019 is gonna be a crappy year even though the first quarter was great? Because I think we are in a three year period just like 2000 2001 2002 and what people forget is in 2000 we had the tech bubble, we had crazy IPO's -- 81 percent didn't make any money. We just eclipsed that record with the Lyft IPO which we made a lot of money on but that's 82 percent of companies now don't make money. So we eclipse that record. We've got the highest number of companies that don't make money going public. Your point about zombie companies, we have the highest percentage of companies we've ever had that actually not only can they not pay off their debt, they can't service their debt with the last three years. So 16 percent of companies in the S&P fifteen hundred. So the top fifteen hundred companies in the United States, 16 percent, one in six can't service their debt with the money they make and one third, actually a little higher thirty five percent, of all the companies in the rest of 2000 make no money. That's bad and that's all because of QE and allowing bad things to exist and what I call participation trophy markets. What I said was two thousand was going to play out, I mean 2018 was gonna play out like two thousand. So we were basically flat to September and then we were up a little bit through September and then we crashed and we finished down in single digits. So in 2000 we were down nine in 2018 we are down four. So then what happened in 2001 is we had the last gasp rally return to normalcy. Have you ever seen the bubble chart? You get the new paradigm, then you get the crash and then you get the last little run up, that's called the return to normal before the big crash. And that's exactly what happened in 2001. We had a big run up, a 20 percent run up in second quarter between first and second quarter of 2001 and then starting in May we went down 30 percent. We rallied another 20 percent, we had two 20 percent rallies in 2001 and we still finished down 14 percent. So I think that's exactly what's happening here. The plunge protection team came and I was on TV on Christmas Eve and they asked what do you think's going on? Actually not on Christmas Eve on the twenty sixth after Christmas Eve and I was up in Chicago and they said what do you think's going on? I said I think they called the Plunge Protection Team. Since September 21st last year we're still down, since September 21st last year we're still down, only down 1 percent but we're still down. And so what people are missing is this is a normal way that a bear market works and I described it on TV as it's like a rubber ball bouncing down a set of stairs. Each bounce is higher ,that's just kinetic energy, the end of the trip is a bad place. So if I'm wrong on the bear market not playing out what I will have missed is here's the thing. First quarter earnings that were supposed to be double digit growth three months ago are now going to be down single digits. It's the steepest drop in 30 years for first quarter earnings estimates. Preannouncements by companies are over 77 percent negative. Haven't had that in 20 years and I think the earnings season of first quarter is going to be absolutely god awful. I think the only thing keeping the market up is buybacks. We had a I thought the record was as good as it could get last year. So I believe that the government cut a deal with companies. The Fed is not allowed to buy stock directly. Bank of Japan can buy stock. Swiss National Bank can buy stock. The Fed is not allowed to buy stock. So what I believe they did is said look we'll cut your taxes and you take that money and you buy back stock and in so doing you'll support the market. So eight hundred billion dollars of buybacks last year shattered the all time record by a factor of two. I thought we couldn't get higher than two hundred billion in fourth quarter. Two hundred and ninety billion dollars. We had outflows from mutual funds, we had outflows from ETF's. The only positive was buybacks. And if you watched the market, every day from about eleven o'clock in the morning till two thirty in the afternoon it goes straight up 45 degree line and what you want to watch is the first half hour, that's when the dumb money trades, that's when the retail money trades and that's usually what you're going to try to buy and if you watch the last half hour that's when the smart money trades and it's been distributing again and by distribution means it's selling, the last half hours always weak. All last year, last half hour was weak, first quarter last half hour strong. That was the buybacks and the ETF's. And then I'll say the plunge protection team. But here's the problem. Look at the volume. Look at Apple's volume in the last two weeks. Minuscule. I think to Monday we had the lowest volume day in the last twelve months. So it's not that lots of people are buying. It's that we have this short squeeze and buybacks and that is artificially holding up. And when that dam breaks and people actually see how bad first quarter earnings are and how bad the growth numbers are. IMF just downgraded global growth for the third time in six months but I could be wrong. FrankAnd just a close up because we were running out of time and there's people that are looking to kick us out. Is that good or bad for Bitcoin in one word? MarkIt's agnostic for Bitcoin. There are a lot of things that are good for Bitcoin. What's good for Bitcoin is price is a liar. Don't look at the daily price. Look at all of the fundamental things. Growth in number of wallets, growth in transactions, transactions per block. All the fundamental metrics of blockchain I mean of Bitcoin are going positive. All the fundamentals of blockchain adoption and usage is positive. Focus on that. FrankThank you so much for joining us today. MarkAll right. Thanks for having me. It was fun. FrankWe'd like to take a minute to thank our sponsor Cash App. Cash App has been the number one in finance on the App Store for almost two years. It was the first major peer to peer payments app to support Bitcoin and it's still the fastest and easiest way to onramp fiat. No more waiting five days for your ACH transfer to come through. With Cash App you can buy Bitcoin instantly. When you're ready to take full ownership of your private keys just use cash app to scan an external wallet's QR code. It's really that simple, cash app also comes with standard banking features like direct deposits and others your bank would never even consider like cash card, a customizable debit card that lets you instantly save every time you use it at Lyft, Whole Foods, Chipotle, Chick fil A, Starbucks, Dunkin, local coffee shops and a whole lot more. Download cash up today from the App Store or Google Play and thanks for listening. \|\| Crypto-Specialist Economist Reveals Trick for Governments to ‘Kill Bitcoin’: ByCCN.com: Saifedean Ammous, author of theBitcoin Standard, appeared on themost recent episode of Stephen Livera’s crypto-economics podcast. Ammous spoke on several subjects, includinga hyperbitcoinized future. Livera spoke to the fact that a full government ban on Bitcoin would make people aware of the fact that they have little control over the money in their bank accounts. Ammous responded, in part: People think that if government were to just pass a law that bans Bitcoin, then Bitcoin goes away and they get to laugh at us, and that’s the end of the story. I think it’s actually the other way around. […] The more restrictive governments are against Bitcoin, that means the more restrictive they generally are financially, and the worse their monetary policies are. Ammous believes that laws banning Bitcoin have a positive impact on it. The unrestricted nature of Bitcoin transactions means that repression hasmore of a Streisand effect. A blanket ban on bitcoin will have the opposite effect, according to the economist. \| Source: Shutterstock Read the full story on CCN.com. \|\| Crypto-Specialist Economist Reveals Trick for Governments to ‘Kill Bitcoin’: This economist has a unique take on how governments can take on and kill bitcoin. \| Source: YouTube/Fundación Rafael del Pino By CCN.com : Saifedean Ammous, author of the Bitcoin Standard , appeared on the most recent episode of Stephen Livera’s crypto-economics podcast . Ammous spoke on several subjects, including a hyperbitcoinized future . What Would It Take To Kill Bitcoin? Livera spoke to the fact that a full government ban on Bitcoin would make people aware of the fact that they have little control over the money in their bank accounts. Ammous responded, in part: People think that if government were to just pass a law that bans Bitcoin, then Bitcoin goes away and they get to laugh at us, and that’s the end of the story. I think it’s actually the other way around. […] The more restrictive governments are against Bitcoin, that means the more restrictive they generally are financially, and the worse their monetary policies are. So if people are trying to get into Bitcoin and governments are saying, ‘If you buy Bitcoin, we’re going to throw you in jail,’ then number one, we can tell, obviously that people have a good reason to be buying Bitcoin, otherwise they wouldn’t be risking going to jail. And that government is trying to stop them from it, and the fact that it is trying to stop them means that government is imposing financial restrictions on them. And so that ultimately is Bitcoin’s use case. Bitcoin’s use case is moving money around the world without having to report to your government. And so the more governments create restrictions like this, the more problems they create, the worse their monetary policy is, and that’s not just, you know, the governments of the west. […] It applies all over the world. Bitcoin Bans Have a Streisand Effect Ammous believes that laws banning Bitcoin have a positive impact on it. The unrestricted nature of Bitcoin transactions means that repression has more of a Streisand effect . A blanket ban on bitcoin will have the opposite effect, according to the economist. \| Source: Shutterstock Read the full story on CCN.com . \|\| Crypto-Specialist Economist Reveals Trick for Governments to ‘Kill Bitcoin’: ByCCN.com: Saifedean Ammous, author of theBitcoin Standard, appeared on themost recent episode of Stephen Livera’s crypto-economics podcast. Ammous spoke on several subjects, includinga hyperbitcoinized future. Livera spoke to the fact that a full government ban on Bitcoin would make people aware of the fact that they have little control over the money in their bank accounts. Ammous responded, in part: People think that if government were to just pass a law that bans Bitcoin, then Bitcoin goes away and they get to laugh at us, and that’s the end of the story. I think it’s actually the other way around. […] The more restrictive governments are against Bitcoin, that means the more restrictive they generally are financially, and the worse their monetary policies are. Ammous believes that laws banning Bitcoin have a positive impact on it. The unrestricted nature of Bitcoin transactions means that repression hasmore of a Streisand effect. A blanket ban on bitcoin will have the opposite effect, according to the economist. \| Source: Shutterstock Read the full story on CCN.com. \|\| BitPay Partners With Refundo to Enable Taxpayers to Receive Refunds in Bitcoin: Cryptocurrency payment services firm BitPay has partnered with tax-related financial products company Refundo to enable people to get a portion of their tax refund back in bitcoin ( BTC ). The development was announced in a press release shared with Cointelegraph on April 30. Refundos new product dubbed CoinRT allows taxpayers to receive all or a portion of the federal and state tax refunds in BTC through BitPays Payouts, purportedly ensuring low transaction fees, speed, and serving the underbanked. To start using the platform, taxpayers need to create an account, provide a bitcoin wallet address, and receive a unique routing and account number to input on their tax return. Customers then have to pass a Know Your Customer procedure, and once the Internal Revenue Service ( IRS ) or state deposit the refund, BitPay processes the payment and transfers it to the taxpayers crypto wallet. Leading financial industry players have been steadily embracing the tax issue when dealing with cryptocurrencies. Last month, Big Four auditing and professional services firm Ernst & Young launched a tool for accounting and preparing taxes on cryptocurrency holdings. The product can reportedly get information about crypto transactions from virtually all major exchanges, consolidate data from various sources, and automatically produce reports, including cryptocurrency-related IRS tax returns. In February, United States tax preparation software TurboTax Online partnered with CoinsTax, LLC to add cryptocurrency tax calculation to its services. The service will allow users to import trading data directly from major exchanges. Once calculated, capital gains and income reports can be downloaded or uploaded directly into Form 1040 Schedule D. On April 11, 21 different U.S. federal representatives sent a bipartisan letter to the IRS requesting guidance on how to report virtual currency taxes. The action took place before the filing deadline for federal income tax returns on April 15, 2019. Specifically, the letter asked the IRS to specify acceptable methods for calculating the virtual currencies cost basis, cost basis assignment and lot relief, as well as tax treatment of crypto hard forks, citing bitcoins fork bitcoin cash ( BCH ) that took place in August 2017. Related Articles: Grayscale to Launch Pro-Bitcoin Ads Drop Gold on Social Media, Linear TV US-Based Exchange ErisX Officially Announces Public Launch of Spot Market 3% of American Retirees Own Some Bitcoin, While 33% Have No Idea What Bitcoin Is: Survey New York District Attorney Charges Two for Shadow Banking Crypto Companies \|\| BitPay Partners With Refundo to Enable Taxpayers to Receive Refunds in Bitcoin: Cryptocurrency payment services firmBitPayhas partnered with tax-related financial products company Refundo to enable people to get a portion of their tax refund back in bitcoin (BTC). The development was announced in a press release shared with Cointelegraph on April 30. Refundo’s new product dubbed CoinRT allows taxpayers to receive all or a portion of the federal and state tax refunds in BTC through BitPay’s Payouts, purportedly ensuring low transaction fees, speed, and serving the underbanked. To start using the platform, taxpayers need to create an account, provide a bitcoin wallet address, and receive a unique routing and account number to input on their tax return. Customers then have to pass aKnow Your Customerprocedure, and once the Internal Revenue Service (IRS) or state deposit the refund, BitPay processes the payment and transfers it to the taxpayer’s crypto wallet. Leading financial industry players have been steadily embracing the tax issue when dealing with cryptocurrencies. Last month, Big Four auditing and professional services firmErnst & Younglauncheda tool for accounting and preparing taxes on cryptocurrency holdings. The product can reportedly get information about crypto transactions from “virtually all” major exchanges, consolidate data from various sources, and automatically produce reports, including cryptocurrency-related IRS tax returns. In February,United Statestax preparation software TurboTax Onlinepartneredwith CoinsTax, LLC to add cryptocurrency tax calculation to its services. The service will allow users to import trading data directly from major exchanges. Once calculated, capital gains and income reports can be downloaded or uploaded directly into Form 1040 Schedule D. On April 11, 21 different U.S. federal representativessenta bipartisan letter to the IRS requesting guidance on how to report virtual currency taxes. The action took place before the filing deadline for federal income tax returns on April 15, 2019. Specifically, the letter asked the IRS to specify acceptable methods for calculating the virtual currencies’ cost basis, cost basis assignment and lot relief, as well as tax treatment of crypto hard forks, citing bitcoin’s fork bitcoin cash (BCH) that took place in August 2017. • Grayscale to Launch Pro-Bitcoin Ads ‘Drop Gold’ on Social Media, Linear TV • US-Based Exchange ErisX Officially Announces Public Launch of Spot Market • 3% of American Retirees Own Some Bitcoin, While 33% Have No Idea What Bitcoin Is: Survey • New York District Attorney Charges Two for Shadow Banking Crypto Companies [Social Media Buzz] Who will own the most #cryptocurrency in the next few years? The countries that are the most concerned about their economies, meaning their national currencies, will dominate the #crypto market of the future. Do you agree with it , Sevgili Hocam @el33th4xor ? #bitcoin #btc $btc https://t.co/QVNzzRvhSk \|\| 2019/05/01 13:00:04 BTCドミナンス : 54.169% 未承認 : 11089 BitFlyer SPOT/FX/乖離　　592340.0 / 599397.0 / 1.191% BitMex 調達率　　BTC : -0.0679% / -0.069% 　　ETH : 0.01% / 0.01% Finex FRR 　　BTC : 35.7...	5505.28, 5768.29, 5831.17, 5795.71, 5746.81, 5829.50, 5982.46, 6174.53, 6378.85, 7204.77
Given the historical Bitcoin prices from the last 90 days, predict the next 10 daily closing prices. The historical prices are: 2823.81, 2947.71, 2958.11, 2659.63, 2717.02, 2506.37, 2464.58, 2518.56, 2655.88, 2548.29, 2589.60, 2721.79, 2689.10, 2705.41, 2744.91, 2608.72, 2589.41, 2478.45, 2552.45, 2574.79, 2539.32, 2480.84, 2434.55, 2506.47, 2564.06, 2601.64, 2601.99, 2608.56, 2518.66, 2571.34, 2518.44, 2372.56, 2337.79, 2398.84, 2357.90, 2233.34, 1998.86, 1929.82, 2228.41, 2318.88, 2273.43, 2817.60, 2667.76, 2810.12, 2730.40, 2754.86, 2576.48, 2529.45, 2671.78, 2809.01, 2726.45, 2757.18, 2875.34, 2718.26, 2710.67, 2804.73, 2895.89, 3252.91, 3213.94, 3378.94, 3419.94, 3342.47, 3381.28, 3650.62, 3884.71, 4073.26, 4325.13, 4181.93, 4376.63, 4331.69, 4160.62, 4193.70, 4087.66, 4001.74, 4100.52, 4151.52, 4334.68, 4371.60, 4352.40, 4382.88, 4382.66, 4579.02, 4565.30, 4703.39, 4892.01, 4578.77, 4582.96, 4236.31, 4376.53, 4597.12.	[Bitcoin Technical Analysis for 2017-09-06] Volume: 2172100096, RSI (14-day): 60.97, 50-day EMA: 3806.98, 200-day EMA: 2523.77 [Wider Market Context] Gold Price: 1333.90, Gold RSI: 73.53 Oil Price: 49.16, Oil RSI: 58.24 [Recent News (last 7 days)] Isle of Man firm to launch 250 million-pound Dubai property priced in bitcoin: By Gertrude Chavez-Dreyfuss NEW YORK (Reuters) - The Knox Group of Companies, with headquarters in the Isle of Man, announced late on Tuesday it will launch a residential and commercial property development in Dubai valued at 250 million pounds ($325 million), with residences that can be purchased in the digital currency bitcoin. The company said the 2.4 million-square-foot (22.3-hectare) property venture called Aston Plaza and Residences, consisting of two residential towers and a shopping mall, will be the first major real estate development that will accept bitcoin as payment. The Dubai project is one step toward efforts to push bitcoin into the mainstream. Maligned and ridiculed in its early days, bitcoin hit a record high of $4,870 on Friday, surging more than 400 percent so far this year. The whole project is expected to be completed by late 2019. "This a great opportunity for the crypto-currency community to offload some of its significant gains, especially the early adopters, and actually deploy them in hard-core assets which I'm building," Knox's chairman, Doug Barrowman, said in an interview with Reuters. Barrowman, originally from Scotland, in 2008 founded Knox, which engages in private equity, property and wealth management. The company manages 1.5 billion pounds in assets, he said. The Dubai venture is a collaboration with Baroness Michelle Mone, a member of the House of Lords and founder of the lingerie company Ultimo. Mone said in an interview that her interior design company will do the interiors of the apartments. Bitcoin payments platform BitPay will process the bitcoin transactions. The company already provides bitcoin payment tools to companies such as Microsoft and Richard Branson's space venture, Virgin Galactic. Knox's Barrowman said the current popularity of initial Coin offerings (ICOs), a token-based method of fundraising for technology start-ups, has shown that there is huge demand for crypto-investors to diversify their assets. Studio apartments will start in price from 33 bitcoin and, mirroring ICOs, early investors will be given additional bonuses, Barrowman said. Packages for interior design services and furniture can also be purchased in bitcoins. One-bedroom apartments can go for about 54 bitcoins, or $250,000, Barrowman said, while two-bedrooms can be bought for 80 bitcoins, or $380,000. Essentially, the apartments will be offered at a 15-20 percent discount, Barrowman said. There will be 1,133 apartments; 480 have already been sold in traditional currencies and the remaining will be earmarked for bitcoin holders, Baroness Mone said. (1 British pound = $1.30) (Reporting by Gertrude Chavez-Dreyfuss) \|\| Isle of Man firm to launch 250 million-pound Dubai property priced in bitcoin: By Gertrude Chavez-Dreyfuss NEW YORK (Reuters) - The Knox Group of Companies, with headquarters in the Isle of Man, announced late on Tuesday it will launch a residential and commercial property development in Dubai valued at 250 million pounds ($325 million), with residences that can be purchased in the digital currency bitcoin. The company said the 2.4 million-square-foot (22.3-hectare) property venture called Aston Plaza and Residences, consisting of two residential towers and a shopping mall, will be the first major real estate development that will accept bitcoin as payment. The Dubai project is one step toward efforts to push bitcoin into the mainstream. Maligned and ridiculed in its early days, bitcoin hit a record high of $4,870 on Friday, surging more than 400 percent so far this year. The whole project is expected to be completed by late 2019. "This a great opportunity for the crypto-currency community to offload some of its significant gains, especially the early adopters, and actually deploy them in hard-core assets which I'm building," Knox's chairman, Doug Barrowman, said in an interview with Reuters. Barrowman, originally from Scotland, in 2008 founded Knox, which engages in private equity, property and wealth management. The company manages 1.5 billion pounds in assets, he said. The Dubai venture is a collaboration with Baroness Michelle Mone, a member of the House of Lords and founder of the lingerie company Ultimo. Mone said in an interview that her interior design company will do the interiors of the apartments. Bitcoin payments platform BitPay will process the bitcoin transactions. The company already provides bitcoin payment tools to companies such as Microsoft and Richard Branson's space venture, Virgin Galactic. Knox's Barrowman said the current popularity of initial Coin offerings (ICOs), a token-based method of fundraising for technology start-ups, has shown that there is huge demand for crypto-investors to diversify their assets. Studio apartments will start in price from 33 bitcoin and, mirroring ICOs, early investors will be given additional bonuses, Barrowman said. Packages for interior design services and furniture can also be purchased in bitcoins. One-bedroom apartments can go for about 54 bitcoins, or $250,000, Barrowman said, while two-bedrooms can be bought for 80 bitcoins, or $380,000. Essentially, the apartments will be offered at a 15-20 percent discount, Barrowman said. There will be 1,133 apartments; 480 have already been sold in traditional currencies and the remaining will be earmarked for bitcoin holders, Baroness Mone said. (1 British pound = $1.30) (Reporting by Gertrude Chavez-Dreyfuss) \|\| Bitcoin regains momentum after regulatory crackdown in China: Investing.com – Bitcoin traded higher on Tuesday but remained well below its recent peak as market participants continued to assess the fallout from China’s decision to ban individuals and organizations from raising funds through initial coin offerings (ICOs). On the U.S.-based Bitfinex exchange, bitcoin rose to $4,386, up $185.6 or 4.42%, but lagged its recent peak of $4,911.80. At current prices Bitcoin boasts a market cap of $72.42 billion. The People’s Bank of China said on its website Monday that it had completed investigations into ICOs, and will strictly punish offerings in the future while penalizing legal violations in ones already completed. Individuals and organizations that have completed ICO fundraisings should make arrangements to return funds, said a joint statement from the People’s Bank of China (PBOC), the securities and banking regulators and other government departments that was posted on the central bank’s website. An initial coin offering (ICO) is a used as a means of fundraising via the use of cryptocurrency in which a company attracts investors by releasing its own digital currency which can appreciate in value if the business is successful. The Chinese government’s latest measures to curb the activity of initial coin offerings are seen as a threat to the strong demand that currently supports cryptocurrency growth. Ethereum, in particular, is widely believed to one of the main cryptocurrencies at risk of suffering from a dip in demand, as ICO issuers often request payment in ether – a currency transacted through the Ethereum network. Ethereum, gained 7.43% to $317.69 while Bitcoin Cash rose $36.10, or 6.96%, to $555.08. To stay on top of the latest moves in the crypto-space, be sure to check out:https://www.investing.com/crypto/ Related Articles Bitcoin regains momentum after regulatory crackdown in China Dollar edges lower as U.S.-North Korea tensions weigh Dollar falls on concern about North Korea, Fed rate outlook \|\| Bitcoin regains momentum after regulatory crackdown in China: Investing.com – Bitcoin traded higher on Tuesday but remained well below its recent peak as market participants continued to assess the fallout from China’s decision to ban individuals and organizations from raising funds through initial coin offerings (ICOs). On the U.S.-based Bitfinex exchange, bitcoin rose to $4,386, up $185.6 or 4.42%, but lagged its recent peak of $4,911.80. At current prices Bitcoin boasts a market cap of $72.42 billion. The People’s Bank of China said on its website Monday that it had completed investigations into ICOs, and will strictly punish offerings in the future while penalizing legal violations in ones already completed. Individuals and organizations that have completed ICO fundraisings should make arrangements to return funds, said a joint statement from the People’s Bank of China (PBOC), the securities and banking regulators and other government departments that was posted on the central bank’s website. An initial coin offering (ICO) is a used as a means of fundraising via the use of cryptocurrency in which a company attracts investors by releasing its own digital currency which can appreciate in value if the business is successful. The Chinese government’s latest measures to curb the activity of initial coin offerings are seen as a threat to the strong demand that currently supports cryptocurrency growth. Ethereum, in particular, is widely believed to one of the main cryptocurrencies at risk of suffering from a dip in demand, as ICO issuers often request payment in ether – a currency transacted through the Ethereum network. Ethereum, gained 7.43% to $317.69 while Bitcoin Cash rose $36.10, or 6.96%, to $555.08. To stay on top of the latest moves in the crypto-space, be sure to check out:https://www.investing.com/crypto/ Related Articles Bitcoin regains momentum after regulatory crackdown in China Dollar edges lower as U.S.-North Korea tensions weigh Dollar falls on concern about North Korea, Fed rate outlook \|\| Bitcoin regains momentum after regulatory crackdown in China: Bitcoin recovered after suffering its biggest drop in 2 months on Monday Investing.com Bitcoin traded higher on Tuesday but remained well below its recent peak as market participants continued to assess the fallout from Chinas decision to ban individuals and organizations from raising funds through initial coin offerings (ICOs). On the U.S.-based Bitfinex exchange, bitcoin rose to $4,386, up $185.6 or 4.42%, but lagged its recent peak of $4,911.80. At current prices Bitcoin boasts a market cap of $72.42 billion. The Peoples Bank of China said on its website Monday that it had completed investigations into ICOs, and will strictly punish offerings in the future while penalizing legal violations in ones already completed. Individuals and organizations that have completed ICO fundraisings should make arrangements to return funds, said a joint statement from the Peoples Bank of China (PBOC), the securities and banking regulators and other government departments that was posted on the central banks website. An initial coin offering (ICO) is a used as a means of fundraising via the use of cryptocurrency in which a company attracts investors by releasing its own digital currency which can appreciate in value if the business is successful. The Chinese governments latest measures to curb the activity of initial coin offerings are seen as a threat to the strong demand that currently supports cryptocurrency growth. Ethereum, in particular, is widely believed to one of the main cryptocurrencies at risk of suffering from a dip in demand, as ICO issuers often request payment in ether a currency transacted through the Ethereum network. Ethereum, gained 7.43% to $317.69 while Bitcoin Cash rose $36.10, or 6.96%, to $555.08. To stay on top of the latest moves in the crypto-space, be sure to check out: https://www.investing.com/crypto/ Related Articles Bitcoin regains momentum after regulatory crackdown in China Dollar edges lower as U.S.-North Korea tensions weigh Dollar falls on concern about North Korea, Fed rate outlook \|\| Meg Whitman responds to reports she was gunning for Uber CEO job: 'I actually am not going anywhere': HPE ( HPE ) CEO Meg Whitman on Tuesday gave her clearest comments yet on her commitment to the company following reports that she was in the running to be the next CEO of taxi company Uber. On the company's quarterly earnings call with financial analysts on Tuesday, Whitman indicated that she isn't planning to leave anytime soon. A few other analysts on the call on Tuesday didn't bring up the elephant in the room and instead focused on HPE's latest financial results. But Toni Sacconaghi of Bernstein Research finally did bring it up, asking her to "clear the air." Here's what Whitman said: There has been some press. [Laughs.] Listen, I thought -- I was called in very late in the Uber search, and I thought it was a very interesting business model. To me, it's actually quite similar to eBay -- very disruptive. It relies on a community of drivers just like eBay relies on a community of sellers. And the growth prospects reminded the of eBay in its early days. And as you know, I'm also an investor in Uber. But in the end it wasn't the right thing. But I would say it really has nothing to do with HPE, which is quite special in its own right. And we have a very focused strategy and a path forward to build a very big business on what I think is quite a compelling strategy -- hybrid IT, edge computing, IoT and much more, and we also have a remarkable customer base and partner base. So the other thing is I've dedicated the last six years of my life to this company, and there is more work to do. And I'm here to make this company successful, and I'm excited about the new strategy. So lots more work to do, and I actually am not going anywhere. Whitman wasn't chosen to be the new CEO, and neither was GE CEO Jeff Immelt. Instead, the company's new CEO is Dara Khosrowshahi , who until now has led Expedia ( EXPE ). Whitman did resign from the board of HP ( HPQ ) Inc. -- the other company created from the break-up of Hewlett-Packard in 2015 -- during the Uber CEO search process. She also sent a out a series of tweets indicating her lack of interest in heading up Uber. tweet tweet tweet Nevertheless, multiple reports say Whitman talked to Uber's board about the position even after her tweets. The New York Times reported that on Sunday, August 27, Whitman met with some Uber board members and gave a presentation about what Uber would have to do to get her to take the job, including settling a lawsuit between investors Benchmark and former CEO Travis Kalanick. Later that day, the board chose Khosrowshahi to lead the company. More From CNBC Uber's 'leaky board' scared Meg Whitman away from the CEO job Bitcoin price on the rise again after falling $1,000 in three days Blockchain technology is moving into the shipping industry \|\| Meg Whitman responds to reports she was gunning for Uber CEO job: 'I actually am not going anywhere': HPE (HPE) CEO Meg Whitman on Tuesday gave her clearest comments yet on her commitment to the company following reports that she was in the running to be the next CEO of taxi company Uber. On the company's quarterly earnings call with financial analysts on Tuesday, Whitman indicated that she isn't planning to leave anytime soon. A few other analysts on the call on Tuesday didn't bring up the elephant in the room and instead focused on HPE's latest financial results. But Toni Sacconaghi of Bernstein Research finally did bring it up, asking her to "clear the air." Here's what Whitman said: There has been some press. [Laughs.] Listen, I thought -- I was called in very late in the Uber search, and I thought it was a very interesting business model. To me, it's actually quite similar to eBay -- very disruptive. It relies on a community of drivers just like eBay relies on a community of sellers. And the growth prospects reminded the of eBay in its early days. And as you know, I'm also an investor in Uber. But in the end it wasn't the right thing. But I would say it really has nothing to do with HPE, which is quite special in its own right. And we have a very focused strategy and a path forward to build a very big business on what I think is quite a compelling strategy -- hybrid IT, edge computing, IoT and much more, and we also have a remarkable customer base and partner base. So the other thing is I've dedicated the last six years of my life to this company, and there is more work to do. And I'm here to make this company successful, and I'm excited about the new strategy. So lots more work to do, and I actually am not going anywhere. Whitman wasn't chosen to be the new CEO, and neither was GE CEO Jeff Immelt. Instead, the company's new CEO is Dara Khosrowshahi , who until now has led Expedia (EXPE). Whitman did resign from the board of HP (HPQ) Inc. -- the other company created from the break-up of Hewlett-Packard in 2015 -- during the Uber CEO search process. She also sent a out a series of tweets indicating her lack of interest in heading up Uber. tweet tweet tweet Nevertheless, multiple reports say Whitman talked to Uber's board about the position even after her tweets. The New York Times reported that on Sunday, August 27, Whitman met with some Uber board members and gave a presentation about what Uber would have to do to get her to take the job, including settling a lawsuit between investors Benchmark and former CEO Travis Kalanick. Later that day, the board chose Khosrowshahi to lead the company.More From CNBC • Uber's 'leaky board' scared Meg Whitman away from the CEO job • Bitcoin price on the rise again after falling $1,000 in three days • Blockchain technology is moving into the shipping industry \|\| STOCKS TUMBLE: Here's what you need to know: falling drop bike lake (Wang He/Getty Images) Stocks tumbled on Tuesday, rattled by the weekend's saber rattling by North Korea and ongoing worries about the upcoming debt ceiling deadline . All three major indices fell by about one percent on Tuesday, with the Nasdaq taking the biggest hit. Several of the chip makers, like AMD and Nvidia , dragged down the index. And now, the scoreboard: Dow: 2 1,716.80 , -270.76, (-1.23%) S&P 500: 2, 447.98 , -28.57, (-1.15%) Nasdaq: 6, 375.57 , -59.76, (-0.93%) Stocks tumble as banks sell-off, North Korea tensions mount. North Korea tested its largest nuclear weapon yet over the weekend, and the stock markets opened weaker on Tuesday. Traders are increasingly worried that the US government may soon run out of ways to pay its bills. The bond market continues to reflect fears that the US government may soon run out of funding. Here's which parts of China's economy would get slammed if Trump put his Twitter threats into action. President Donald Trump is considering cutting off trade with countries who trade with North Korea, including China. Congress is leaning toward 'punting' on its huge deadlines, but it doesn't mean they 'can get through the month drama-free'. Congress is facing a brutal September , but according to many analysts, it looks like lawmakers may kick the can down the road a little longer. 20-somethings are spending less money than you think. According to a recent poll, youngsters are spending $20 less per day than their 2008 counterparts. ADDITIONALLY: Stock pickers are piling into these 9 stocks ROBERT SHILLER: Bitcoin is the 'best example right now' of a bubble Banks are sliding as the yield curve nears its flattest level since 2007 UBS: Technologies like blockchain are IBM's 'best hope for recovery' America is facing a 'retail refugee crisis' as thousands of stores shut down and millions of people become the 'blacksmiths of their era' NOW WATCH: Trump's lack of progress has caused a major dollar reversal More From Business Insider STOCKS DO NOTHING: Here's what you need to know NASDAQ HITS RECORD HIGHS: Here's what you need to know STOCKS CLIMB: Here's what you need to know \|\| STOCKS TUMBLE: Here's what you need to know: falling drop bike lake (Wang He/Getty Images) Stocks tumbled on Tuesday, rattled by the weekend's saber rattling by North Korea and ongoing worries about the upcoming debt ceiling deadline . All three major indices fell by about one percent on Tuesday, with the Nasdaq taking the biggest hit. Several of the chip makers, like AMD and Nvidia , dragged down the index. And now, the scoreboard: Dow: 2 1,716.80 , -270.76, (-1.23%) S&P 500: 2, 447.98 , -28.57, (-1.15%) Nasdaq: 6, 375.57 , -59.76, (-0.93%) Stocks tumble as banks sell-off, North Korea tensions mount. North Korea tested its largest nuclear weapon yet over the weekend, and the stock markets opened weaker on Tuesday. Traders are increasingly worried that the US government may soon run out of ways to pay its bills. The bond market continues to reflect fears that the US government may soon run out of funding. Here's which parts of China's economy would get slammed if Trump put his Twitter threats into action. President Donald Trump is considering cutting off trade with countries who trade with North Korea, including China. Congress is leaning toward 'punting' on its huge deadlines, but it doesn't mean they 'can get through the month drama-free'. Congress is facing a brutal September , but according to many analysts, it looks like lawmakers may kick the can down the road a little longer. 20-somethings are spending less money than you think. According to a recent poll, youngsters are spending $20 less per day than their 2008 counterparts. ADDITIONALLY: Stock pickers are piling into these 9 stocks ROBERT SHILLER: Bitcoin is the 'best example right now' of a bubble Banks are sliding as the yield curve nears its flattest level since 2007 UBS: Technologies like blockchain are IBM's 'best hope for recovery' America is facing a 'retail refugee crisis' as thousands of stores shut down and millions of people become the 'blacksmiths of their era' NOW WATCH: Trump's lack of progress has caused a major dollar reversal More From Business Insider STOCKS DO NOTHING: Here's what you need to know NASDAQ HITS RECORD HIGHS: Here's what you need to know STOCKS CLIMB: Here's what you need to know \|\| 6 ETF Picks for September: As we exited a lukewarm August and stepped into the final month of Q3, the investing cohort must have shifted its focus to the likely market movement in September. This is especially true given the month’s cursed seasonality in the equity market. September is historically the worst month of the year for stocks. According to moneychimp.com, a consensus carried out from 1950 to 2016 has revealed that September ended up offering positive returns in 29 years and negative returns in 38 years, with an average return of negative 0.67%, which is worse than any month. Undesirable financial events like the start of the Great Depression in 1929 or the fall of Lehman Brothers in 2008 all crept up in the month of September. Even this September bears the risk of considerable negative changes to the market in case geopolitical tensions between North Korea and the U.S. heighten, and political uncertainty in the United States related to tax reforms and government shutdown escalates. All these make it more important to pin point ETFs that could safeguard investors from any steep and sudden market swing as well as lead them to some gains. PowerShares QQQ QQQ">QQQ September may be ill reputed in terms of stock returns, but this time the month opened up with a deluge of upbeat data points. First, at the end of August, the Commerce Department released Q2 economic growth data of 3% compared with its earlier estimate of 2.6%. This was the best GDP growth since first-quarter 2015 (read: Top ETF Stories of August). And at the start of September, data showed that U.S. manufacturing expanded in August at the quickest clip since 2011. This calls for growth investing. We are thus bullish on Nasdaq-100 ETF QQQ. Nasdaq Composite has already registered the largest weekly gain of the year on signs of economic strength and a bounce in biotech shares. SPDR S&P Biotech ETF XBI Biotech ETFs, especially those with a focus on cancer therapy, staged a great show in August in particular on Gilead’s GILD buyout announcement of clinical-stage biopharmaceutical company Kite Pharma KITE. Plus, a CAR-T treatment — a type of gene therapy for cancer —has been approved for use in the United States lately. All these developments in the biotech sphere should bode well for the related ETFs (read: Biotech ETFs Soar on Gilead-Kite Deal). VanEck Vectors Semiconductor ETF SMH The usage of cryptocurrencies like bitcoin, Ethereum and Ripple are on a tear. Following its immense price rise, Burger King has also jumped into this area with the launch of its own virtual coin called "WhopperCoin" in Russia (read: Bitcoin ETFs: More Issuers Join the Race). Since mining of cryptocurrencies needs the usage of semiconductors, this part of the technology sector should perform well in September. In any case, semiconductor is the value-centric traditional tech area that is likely to have an upper hand in an edgy investing environment. Moreover, the semiconductor space is consolidating rapidly with a number of deals announced lately. iShares Edge MSCI Multifactor Global ETF ACWF Since U.S. equities have a record of underperformance in the month, investors can have a look at the global ETF. This way, investors can mitigate certain risks. Notably, the global economy is on an upward trajectory. And the fund looks to track the global developed and emerging market large- and mid-cap stocks chosen on the basis of value, quality, momentum, and low-size scores (read: Global Dividend Payments Upbeat in Q2: ETFs to Benefit). WisdomTree Europe Small-Cap Dividend ETF DFE The Euro zone economic growth has looked up this year. The region grew 0.6% sequentially in Q2 following 0.5% expansion in the previous period. Despite this positive sentiment, a rising euro might be a deterrent. So, we have chosen a small-cap Europe ETF — DFE — which is less susceptible to a rising euro. Small-caps better reflect the uptick in the domestic economy. And with the benchmark U.S. Treasury yield loitering under 2.2%, it would be intriguing to go for a higher-yielding pick. The fund yields about 2.66% annually. iShares S&P Moderate Allocation Fund AOM Finally, we would like to pick a full-fledged defensive ETF like AOM. The fund takes a fund-of-funds approach and is a combination of bonds and global stocks. Equities make up about 45% of the fund followed by 26% government or Treasury bonds. The U.S. accounts for about 62% of the portfolio while Japan (5.7%) and the U.K. (4%) take the next two spots. Want key ETF info delivered straight to your inbox?Zacks’ free Fund Newsletter will brief you on top news and analysis, as well as top-performing ETFs, each week. Get it free >> Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days.Click to get this free reportNASDAQ-100 SHRS (QQQ): ETF Research ReportsVANECK-SEMICON (SMH): ETF Research ReportsWISDMTR-EU SC D (DFE): ETF Research ReportsISHARS-FS GLBL (ACWF): ETF Research ReportsSPDR-SP BIOTECH (XBI): ETF Research ReportsISHARS-MD AL (AOM): ETF Research ReportsGilead Sciences, Inc. (GILD) : Free Stock Analysis ReportKite Pharma, Inc. (KITE) : Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment ResearchWant the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report \|\| 6 ETF Picks for September: As we exited a lukewarm August and stepped into the final month of Q3, the investing cohort must have shifted its focus to the likely market movement in September. This is especially true given the months cursed seasonality in the equity market. September is historically the worst month of the year for stocks. According to moneychimp.com, a consensus carried out from 1950 to 2016 has revealed that September ended up offering positive returns in 29 years and negative returns in 38 years, with an average return of negative 0.67%, which is worse than any month. Undesirable financial events like the start of the Great Depression in 1929 or the fall of Lehman Brothers in 2008 all crept up in the month of September. Even this September bears the risk of considerable negative changes to the market in case geopolitical tensions between North Korea and the U.S. heighten, and political uncertainty in the United States related to tax reforms and government shutdown escalates. All these make it more important to pin point ETFs that could safeguard investors from any steep and sudden market swing as well as lead them to some gains. PowerShares QQQ QQQ">QQQ September may be ill reputed in terms of stock returns, but this time the month opened up with a deluge of upbeat data points. First, at the end of August, the Commerce Department released Q2 economic growth data of 3% compared with its earlier estimate of 2.6%. This was the best GDP growth since first-quarter 2015 (read: Top ETF Stories of August). And at the start of September, data showed that U.S. manufacturing expanded in August at the quickest clip since 2011. This calls for growth investing. We are thus bullish on Nasdaq-100 ETF QQQ. Nasdaq Composite has already registered the largest weekly gain of the year on signs of economic strength and a bounce in biotech shares. SPDR S&P Biotech ETF XBI Biotech ETFs, especially those with a focus on cancer therapy, staged a great show in August in particular on Gileads GILD buyout announcement of clinical-stage biopharmaceutical company Kite Pharma KITE. Plus, a CAR-T treatment a type of gene therapy for cancer has been approved for use in the United States lately. All these developments in the biotech sphere should bode well for the related ETFs (read: Biotech ETFs Soar on Gilead-Kite Deal). Story continues VanEck Vectors Semiconductor ETF SMH The usage of cryptocurrencies like bitcoin, Ethereum and Ripple are on a tear. Following its immense price rise, Burger King has also jumped into this area with the launch of its own virtual coin called "WhopperCoin" in Russia (read: Bitcoin ETFs: More Issuers Join the Race). Since mining of cryptocurrencies needs the usage of semiconductors, this part of the technology sector should perform well in September. In any case, semiconductor is the value-centric traditional tech area that is likely to have an upper hand in an edgy investing environment. Moreover, the semiconductor space is consolidating rapidly with a number of deals announced lately. iShares Edge MSCI Multifactor Global ETF ACWF Since U.S. equities have a record of underperformance in the month, investors can have a look at the global ETF. This way, investors can mitigate certain risks. Notably, the global economy is on an upward trajectory. And the fund looks to track the global developed and emerging market large- and mid-cap stocks chosen on the basis of value, quality, momentum, and low-size scores (read: Global Dividend Payments Upbeat in Q2: ETFs to Benefit). WisdomTree Europe Small-Cap Dividend ETF DFE The Euro zone economic growth has looked up this year. The region grew 0.6% sequentially in Q2 following 0.5% expansion in the previous period. Despite this positive sentiment, a rising euro might be a deterrent. So, we have chosen a small-cap Europe ETF DFE which is less susceptible to a rising euro. Small-caps better reflect the uptick in the domestic economy. And with the benchmark U.S. Treasury yield loitering under 2.2%, it would be intriguing to go for a higher-yielding pick. The fund yields about 2.66% annually. iShares S&P Moderate Allocation Fund AOM Finally, we would like to pick a full-fledged defensive ETF like AOM. The fund takes a fund-of-funds approach and is a combination of bonds and global stocks. Equities make up about 45% of the fund followed by 26% government or Treasury bonds. The U.S. accounts for about 62% of the portfolio while Japan (5.7%) and the U.K. (4%) take the next two spots. Want key ETF info delivered straight to your inbox? Zacks free Fund Newsletter will brief you on top news and analysis, as well as top-performing ETFs, each week. Get it free >> Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report NASDAQ-100 SHRS (QQQ): ETF Research Reports VANECK-SEMICON (SMH): ETF Research Reports WISDMTR-EU SC D (DFE): ETF Research Reports ISHARS-FS GLBL (ACWF): ETF Research Reports SPDR-SP BIOTECH (XBI): ETF Research Reports ISHARS-MD AL (AOM): ETF Research Reports Gilead Sciences, Inc. (GILD) : Free Stock Analysis Report Kite Pharma, Inc. (KITE) : Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report \|\| How Apple's iPhone has improved since its 2007 debut: These days, we yawn and roll our eyes at each new smartphone model. The changes seem to be tiny—evolutionary. Where are the big steps forward? Well, it may be that there aren’t many big steps left to take. Every kind of machine evolves, finally reaching an ultimate incarnation of itself. How often, for example, do you replace your refrigerator? Or your air conditioner? There just aren’t many compelling new features left to add. Even so, we’ve come a very long way since 2007, when Apple (AAPL)released the very first iPhone. Every year, there’s another model, each faster and loaded up with more features. As we prepare for the September 12 unveiling of the 10th-anniversary iPhone, here’s a chronology of what was new with each year’s iteration. The very first iPhone introduced averylong list of firsts. The big one, of course, was that it was all touchscreen—no typing keys. Not just a touchscreen—amultitouchscreen, with all of those touch gestures we now take for granted, like “pinch to zoom” and swiping through lists. It also introduced visual voicemail, where your messages appear in an inbox. Its email and web browser apps were full-fledged, showing all the formatting you’d see on a desktop computer—a first for phones. It’s also worth remembering what the first iPhone didn’t have: A front camera. A camera flash. Video recording. Cut and paste. GPS. MMS (sending photos as text messages). A memory-card slot. Voice dialing. Word-complete suggestions. A choice of carrier (it was AT&T [T] only, and really slow). And there was no app store. You got 16 apps, and you were happy. The base model cost $500, and packed 4 gigabytes of storage. As I wrotein my reviewin The New York Times: “The iPhone is revolutionary; it’s flawed. It’s substance; it’s style. It does things no phone has ever done before; it lacks features found even on the most basic phones.” The second iPhone was intended to address the first phone’s Achilles’ heel: Its excruciatingly slow internet. This model took advantage of AT&T’s 3G network, which was at least twice as fast as the old one. The storage options doubled, to 8 and 16 GB. A white color option debuted. And the phone gained true GPS. (The original phone simulated GPS by triangulating from known WiFi hot spots and cell towers.) Software:Focusing on only thehardwareof the iPhone is missing the bigger picture: Each new phone is accompanied by a new version of its system software, which we now call iOS. In general, each new iOS version’s features also work on earlier iPhone models. The iPhone 3G, for example, was accompanied by the debut of the App Store, a single, central catalog of add-on apps. The idea that you could download new programs directly onto the iPhone, instead of having to transfer them from a computer, was a huge breakthrough at the time. The “S,” Steve Jobs said, stood for “speed.” This phone was faster in every way. Its camera got bumped up to three megapixels, and gained a long list of features: auto-focus, tap-to-focus, exposure lock, auto white balance, auto macro shots, “rule of thirds” grid lines, and a 5x digital zoom. A new magnetometer permitted the creation of the Compass app. Software:Video recording! And voice control of music playback and dialing. The comfortable rounded plastic back disappeared in this redesigned model, which had crisp edges and hardened glass front and back panels—plus the first “Retina” screen (much higher resolution). A front-facing camera appeared on this model, plus, for the first time, an LED flash. Apple also added a second microphone, at the top, for noise cancellation during calls, and a gyroscope, which can precisely calculate how you’re turning the phone in space (handy for games). This was the first iPhone that could run on the CDMA cellular network, the one used by Verizon (VZ) and Sprint (S). Once Apple’s early exclusive contract with AT&T ended in 2011, the iPhone 4 became the first model offered by Verizon and other carriers. Software:iOS 4 introduced FaceTime video conferencing (over WiFi only) and limited multitasking, including an app switcher. This model introduced Siri, the voice assistant that paved the way for Microsoft’s (MSFT) Cortana, Google (GOOG,GOOGL) Assistant, Amazon (AMZN) Echo, and so on. The 4S was, of course, faster, and its camera received its usually resolution bump (to 8 megapixels, good for 1080p hi-def videos). Software:iOS 5 was a big one. It introduced iMessages, the Notification Center, Reminders, built-in Twitter (TWTR), iCloud, and the ability to let nearby computers get online via tethering (Personal Hotspot). The iPhone 5 had a thinner body and taller screen; compatibility with much faster LTE cellular data networks; and a faster, better camera, capable of snapping stills while recording video. With this phone, Apple eliminated the 30-pin connector that it had used for charging and syncing all iPhones and iPads to date—and replaced it with the tiny Lightning connector. Millions of people had to buy and fuss with adapters. Software:iOS 6 introduced panorama mode for the Camera app, more Siri commands, one-tap responses to incoming texts and calls (like, “Driving—I’ll call you later”). Apple also replaced Google’s fantastic pre-installed Google Maps app with a shockingly incomplete Apple app. Its guidance was so poor, Apple CEO Tim Cook wound upapologizing for itand suggesting that people use Google Maps instead. Apple’s fingerprint sensor, cleverly embedded in the Home button, let you unlock the phone without a password for the first time. As usual, the camera got better and the processor got faster—its A7 was the first 64-bit chip ever used in a phone. Apple replaced its time-honored, coin-shaped iPhone earbuds with the blobbier AirPods earbuds. (A budget model, the iPhone 5C, came out at the same time, in a choice of five plastic colors. It was otherwise essentially identical to 2012’s iPhone 5.) Software:iOS 7 was ahugesoftware release. It introduced a massive and controversial redesign. Its sparse look eliminated “skeuomorphic” design elements, in which on-screen things depict real-world materials (lined yellow paper for Notes, leather binding for Calendar, wooden shelves for iBooks). iOS 7 also came loaded with new features: AirDrop made it simple to shoot pictures, notes, and contacts among iPhones. Control Center is the panel that slides up from the bottom of the screen to offer commonly used settings. In the Camera app: slow-motion video, zooming while recording, photo filters, and 10-frames-a-second bursts. With this model, Apple followed Samsung’s lead—and went for bigger screens. There were now, for the first time, two iPhones in the same line: the iPhone 6 and the larger 6 Plus. Both had faster chips and Apple Pay (wireless payments at special cash-register terminals). The 6 family gained a barometer to detect altitude changes (?!), and upgraded wireless components that permitted WiFi calling. The upgraded cameras offered slow-mo video at 240 frames a second (quarter-speed), phase-detection autofocus (faster and more accurate), and optical image stabilization on the 6 Plus. The front-facing camera got better low-light capability, burst mode, and HDR (high dynamic range) ability. Software:In iOS 8, Apple finally added a row of three next-word guesses above the keyboard, to save typing. The Continuity feature permitted interaction between the phone and a Mac, like calling and texting from the Mac—and, in later iOS/Mac versions, copying on one device and pasting on the other. Family Sharing allows up to six family members to share stuff they’ve bought from Apple (music, videos, apps, etc.). The Camera app gained a self timer and a time-lapse mode, iCloud Drive (Apple’s version of Dropbox) debuted. Eventually, in iOS 8.4, Apple Music came along—its subscription music plan. In addition to the usual speed and camera-resolution enhancements (12 megapixels, 4K video), the 6S and 6S Plus introduced what Apple calls 3D Touch: a pressure-sensitive screen. You can press harder on an app to see a menu of common commands, or peek into links or lists without actually leaving the screen you’re on. These models also featured a front-facing “flash” that works by overcranking the front-facing screen by 3X. (The iPhone SE packed most of the same features of the 6S into a much smaller body—the traditional iPhone size—to the delight of the small-handed.) Software:The iOS 9 update introduced debuted Live Photos, which are three-second video clips that you can capture with every photo. Most people will probably remember the iPhone 7 and 7 Plus primarily as the phones that killed off the headphone jack. But these models also gained waterproofing (up to 30 minutes under a meter of water), a larger battery, stabilized camera even on the smaller phone, better low-light photos, an array offourLED flashes on the back for greater brightness, stereo speakers, and a Home button that doesn’t actually move, but instead just simulates a click using a vibration motor. On the iPhone 7 Plus, Apple installedtwolenses: one wide-angle, one a 2X zoom. This is true, optical zoom, not the cruddy digital zoom on most previous phones. Software:iOS 10 introduced a huge range of small tweaks, and a couple of big ones. First, there has been a colossal revamp of Messages, Apple’s text-messaging app, adding a wide range of visual treats, animations, and effects to dress up your message. Second, iOS 10 requires fewer steps to unlock the phone—for example, to check the latest alerts or fire up the camera. Nobody knows for sure what Apple will unveil in the new iPhoneson September 12. But the rumor millers seem pretty confident about a few things: • A massive redesign.No more black panels above and below the screen. Instead, a gorgeous OLED screen will extend to all four edges of the flagship phone, rumored to be called the iPhone X. • No more Home button.You’ll have to get back to the Home screen, and perform other functions, using new swiping gestures on the screen. (Or maybe there’ll be an on-screenHome button.) • Face ID.You’ll be able to unlock the phone by looking at it. • Pad-based charging.As on the Samsung Galaxy, instead of plugging in a cable, you’ll have the option of setting it down on a pad) to charge. (That’s why front and back will be glass.) • AR features.Augmented reality means seeing graphics overlaid on the camera’s view of the world around you: arrows that show which way to walk to get to the nearest subway stop, for example, or info boxes that identify the prices of apartments in nearby buildings. • Nosebleed price.The number people are kicking around is $1,000. However, there’s also some intel that a less expensive iPhone model or two (called iPhone 8) will be released simultaneously, without the OLED screen. Software:We already know what iOS 11 will bring, because Apple’s told us! It will be a lot of nips and tucks, like auto-Do Not Disturb when you’re driving; a more real-sounding voice for Siri; screen recording; more compact photo and video formats to save space; and person-to-person payments within the Messages app, like Venmo. Here’smy complete writeup of iOS 11. We’ll be at Apple’s unveiling show at 10 a.m. Pacific time on September 12, live-blogging the event and posting a complete set of articles, photos, and videos about what’s new. We’re pretty sure you won’t want to miss it! More from David Pogue: Gulliver’s Gate is a $40 million world of miniatures in Times Square The 5 best new features of this week’s YouTube redesign Samsung’s Bixby voice assistant is ambitious, powerful, and half-baked Is through-the-air charging a hoax? Electrify your existing bike in 2 minutes with these ingenious wheels Marty Cooper, inventor of the cellphone: The next step is implantables The David Pogue Review: Windows 10 Creators Update Now I get it: Bitcoin David Pogue’s search for the world’s best air-travel app The little-known iPhone feature that lets blind people see with their fingers David Pogue, tech columnist for Yahoo Finance, welcomes nontoxic comments in the comments section below. On the web, he’sdavidpogue.com. On Twitter, he’s@pogue. On email, he’s [email protected]. You canread all his articles here, or you can sign up toget his columns by email. \|\| How Apple's iPhone has improved: These days, we yawn and roll our eyes at each new smartphone model. The changes seem to be tinyevolutionary. Where are the big steps forward? Well, it may be that there arent many big steps left to take. Every kind of machine evolves, finally reaching an ultimate incarnation of itself. How often, for example, do you replace your refrigerator? Or your air conditioner? There just arent many compelling new features left to add. Even so, weve come a very long way since 2007, when Apple ( AAPL ) released the very first iPhone . Every year, theres another model, each faster and loaded up with more features. As we prepare for the September 12 unveiling of the 10th-anniversary iPhone, heres a chronology of what was new with each years iteration. The iPhone gets a total body makeover every few years. This year, its time. iPhone (June 2007) The very first iPhone introduced a very long list of firsts. The big one, of course, was that it was all touchscreenno typing keys. Not just a touchscreena multitouch screen, with all of those touch gestures we now take for granted, like pinch to zoom and swiping through lists. It also introduced visual voicemail, where your messages appear in an inbox. Its email and web browser apps were full-fledged, showing all the formatting youd see on a desktop computera first for phones. Its also worth remembering what the first iPhone didnt have: A front camera. A camera flash. Video recording. Cut and paste. GPS. MMS (sending photos as text messages). A memory-card slot. Voice dialing. Word-complete suggestions. A choice of carrier (it was AT&T [ T ] only, and really slow). And there was no app store. You got 16 apps, and you were happy. The base model cost $500, and packed 4 gigabytes of storage. As I wrote in my review in The New York Times: The iPhone is revolutionary; its flawed. Its substance; its style. It does things no phone has ever done before; it lacks features found even on the most basic phones. Here it is: The Apple product that not even Apple guessed would change the world. iPhone 3G (July 2008) The second iPhone was intended to address the first phones Achilles heel: Its excruciatingly slow internet. This model took advantage of AT&Ts 3G network, which was at least twice as fast as the old one. Story continues The storage options doubled, to 8 and 16 GB. A white color option debuted. And the phone gained true GPS. (The original phone simulated GPS by triangulating from known WiFi hot spots and cell towers.) This iPhone was called 3G because it could get onto the 3G cellular networks (and NOT because it was the third-generation iPhone; it wasnt). Software: Focusing on only the hardware of the iPhone is missing the bigger picture: Each new phone is accompanied by a new version of its system software, which we now call iOS. In general, each new iOS versions features also work on earlier iPhone models. The iPhone 3G, for example, was accompanied by the debut of the App Store, a single, central catalog of add-on apps. The idea that you could download new programs directly onto the iPhone, instead of having to transfer them from a computer, was a huge breakthrough at the time. iPhone 3GS (June 2009) The S, Steve Jobs said, stood for speed. This phone was faster in every way. Its camera got bumped up to three megapixels, and gained a long list of features: auto-focus, tap-to-focus, exposure lock, auto white balance, auto macro shots, rule of thirds grid lines, and a 5x digital zoom. A new magnetometer permitted the creation of the Compass app. The S in 3GS stood for speed. Software: Video recording! And voice control of music playback and dialing. iPhone 4 (June 2010) The comfortable rounded plastic back disappeared in this redesigned model, which had crisp edges and hardened glass front and back panelsplus the first Retina screen (much higher resolution). A front-facing camera appeared on this model, plus, for the first time, an LED flash. Apple also added a second microphone, at the top, for noise cancellation during calls, and a gyroscope, which can precisely calculate how youre turning the phone in space (handy for games). This was the first iPhone that could run on the CDMA cellular network, the one used by Verizon ( VZ ) and Sprint ( S ). Once Apples early exclusive contract with AT&T ended in 2011, the iPhone 4 became the first model offered by Verizon and other carriers. No more rounded back in the iPhone 4. Software: iOS 4 introduced FaceTime video conferencing (over WiFi only) and limited multitasking, including an app switcher. iPhone 4S (October 2011) This model introduced Siri, the voice assistant that paved the way for Microsofts ( MSFT ) Cortana, Google ( GOOG , GOOGL ) Assistant, Amazon ( AMZN ) Echo, and so on. The 4S was, of course, faster, and its camera received its usually resolution bump (to 8 megapixels, good for 1080p hi-def videos). The iPhone 4sstarring Siri. Software: iOS 5 was a big one. It introduced iMessages, the Notification Center, Reminders, built-in Twitter ( TWTR ), iCloud, and the ability to let nearby computers get online via tethering (Personal Hotspot). iPhone 5 (September 2012) The iPhone 5 had a thinner body and taller screen; compatibility with much faster LTE cellular data networks; and a faster, better camera, capable of snapping stills while recording video. With this phone, Apple eliminated the 30-pin connector that it had used for charging and syncing all iPhones and iPads to dateand replaced it with the tiny Lightning connector. Millions of people had to buy and fuss with adapters. The iPhone 5 introduced the Lightning connector for charging. Software: iOS 6 introduced panorama mode for the Camera app, more Siri commands, one-tap responses to incoming texts and calls (like, DrivingIll call you later). Apple also replaced Googles fantastic pre-installed Google Maps app with a shockingly incomplete Apple app. Its guidance was so poor, Apple CEO Tim Cook wound up apologizing for it and suggesting that people use Google Maps instead. iPhone 5s (September 2013) Apples fingerprint sensor, cleverly embedded in the Home button, let you unlock the phone without a password for the first time. As usual, the camera got better and the processor got fasterits A7 was the first 64-bit chip ever used in a phone. Apple replaced its time-honored, coin-shaped iPhone earbuds with the blobbier AirPods earbuds. (A budget model, the iPhone 5C, came out at the same time, in a choice of five plastic colors. It was otherwise essentially identical to 2012s iPhone 5.) The iPhone 5s, starring the Touch ID fingerprint reader. Software: iOS 7 was a huge software release. It introduced a massive and controversial redesign. Its sparse look eliminated skeuomorphic design elements, in which on-screen things depict real-world materials (lined yellow paper for Notes, leather binding for Calendar, wooden shelves for iBooks). iOS 7 also came loaded with new features: AirDrop made it simple to shoot pictures, notes, and contacts among iPhones. Control Center is the panel that slides up from the bottom of the screen to offer commonly used settings. In the Camera app: slow-motion video, zooming while recording, photo filters, and 10-frames-a-second bursts. iPhone 6 (September 2014) With this model, Apple followed Samsungs leadand went for bigger screens. There were now, for the first time, two iPhones in the same line: the iPhone 6 and the larger 6 Plus. Both had faster chips and Apple Pay (wireless payments at special cash-register terminals). The 6 family gained a barometer to detect altitude changes (?!), and upgraded wireless components that permitted WiFi calling. The upgraded cameras offered slow-mo video at 240 frames a second (quarter-speed), phase-detection autofocus (faster and more accurate), and optical image stabilization on the 6 Plus. The front-facing camera got better low-light capability, burst mode, and HDR (high dynamic range) ability. The iPhone 6 dramatically increased the iPhones screen sizeand body size Software: In iOS 8, Apple finally added a row of three next-word guesses above the keyboard, to save typing. The Continuity feature permitted interaction between the phone and a Mac, like calling and texting from the Macand, in later iOS/Mac versions, copying on one device and pasting on the other. Family Sharing allows up to six family members to share stuff theyve bought from Apple (music, videos, apps, etc.). The Camera app gained a self timer and a time-lapse mode, iCloud Drive (Apples version of Dropbox) debuted. Eventually, in iOS 8.4, Apple Music came alongits subscription music plan. iPhone 6S and SE (September 2015) In addition to the usual speed and camera-resolution enhancements (12 megapixels, 4K video), the 6S and 6S Plus introduced what Apple calls 3D Touch: a pressure-sensitive screen. You can press harder on an app to see a menu of common commands, or peek into links or lists without actually leaving the screen youre on. These models also featured a front-facing flash that works by overcranking the front-facing screen by 3X. (The iPhone SE packed most of the same features of the 6S into a much smaller bodythe traditional iPhone sizeto the delight of the small-handed.) The iPhone 6s and 6s Plus introduced a pressure-sensitive screen. Software: The iOS 9 update introduced debuted Live Photos, which are three-second video clips that you can capture with every photo. iPhone 7 (September 2016) Most people will probably remember the iPhone 7 and 7 Plus primarily as the phones that killed off the headphone jack. But these models also gained waterproofing (up to 30 minutes under a meter of water), a larger battery, stabilized camera even on the smaller phone, better low-light photos, an array of four LED flashes on the back for greater brightness, stereo speakers, and a Home button that doesnt actually move, but instead just simulates a click using a vibration motor. On the iPhone 7 Plus, Apple installed two lenses: one wide-angle, one a 2X zoom. This is true, optical zoom, not the cruddy digital zoom on most previous phones. The iPhone 7 and 7 Plus had no headphone jack. Theyre shown here with what Apple hopes youll use instead: the AirPods. Software: iOS 10 introduced a huge range of small tweaks, and a couple of big ones. First, there has been a colossal revamp of Messages, Apples text-messaging app, adding a wide range of visual treats, animations, and effects to dress up your message. Second, iOS 10 requires fewer steps to unlock the phonefor example, to check the latest alerts or fire up the camera. iPhone X and 8? (September 2017) Nobody knows for sure what Apple will unveil in the new iPhones on September 12. But the rumor millers seem pretty confident about a few things: A massive redesign. No more black panels above and below the screen. Instead, a gorgeous OLED screen will extend to all four edges of the flagship phone, rumored to be called the iPhone X. No more Home button. Youll have to get back to the Home screen, and perform other functions, using new swiping gestures on the screen. (Or maybe therell be an on -screen Home button.) Face ID. Youll be able to unlock the phone by looking at it. Pad-based charging. As on the Samsung Galaxy, instead of plugging in a cable, youll have the option of setting it down on a pad) to charge. (Thats why front and back will be glass.) AR features. Augmented reality means seeing graphics overlaid on the cameras view of the world around you: arrows that show which way to walk to get to the nearest subway stop, for example, or info boxes that identify the prices of apartments in nearby buildings. Nosebleed price. The number people are kicking around is $1,000. However, theres also some intel that a less expensive iPhone model or two (called iPhone 8) will be released simultaneously, without the OLED screen. Software: We already know what iOS 11 will bring, because Apples told us! It will be a lot of nips and tucks, like auto-Do Not Disturb when youre driving; a more real-sounding voice for Siri; screen recording; more compact photo and video formats to save space; and person-to-person payments within the Messages app, like Venmo. Heres my complete writeup of iOS 11. See you on September 12! Well be at Apples unveiling show at 10 a.m. Pacific time on September 12, live-blogging the event and posting a complete set of articles, photos, and videos about whats new. Were pretty sure you wont want to miss it! More from David Pogue: Gullivers Gate is a $40 million world of miniatures in Times Square The 5 best new features of this weeks YouTube redesign Samsungs Bixby voice assistant is ambitious, powerful, and half-baked Is through-the-air charging a hoax? Electrify your existing bike in 2 minutes with these ingenious wheels Marty Cooper, inventor of the cellphone: The next step is implantables The David Pogue Review: Windows 10 Creators Update Now I get it: Bitcoin David Pogues search for the worlds best air-travel app The little-known iPhone feature that lets blind people see with their fingers David Pogue, tech columnist for Yahoo Finance, welcomes nontoxic comments in the comments section below. On the web, hes davidpogue.com . On Twitter, hes @pogue . On email, hes [email protected]. You can read all his articles here , or you can sign up to get his columns by email . \|\| Gold Price Prediction for September 6, 2017: Gold prices surged higher in the wake of this weekend’s hydrogen bomb detonation that brought forward a risk aversion trade that paved the way for higher gold prices. The yellow metal surge breaking out above resistance which was seen near the November 6, 2016 highs at 1,337. Support on the yellow metal is seen near the 10-day moving average at 1,312. The next level of target resistance on gold prices is seen near the July 2016 highs at 1,371. Momentum is positive as the RSI (relative strength index) which is a momentum oscillator that measures accelerating and decelerating momentum, broke out to fresh 5-month highs, which reflects accelerating positive momentum. The only caveat is that the current reading of 74, is above the overbought trigger level of 70 and could foreshadow a correction in gold prices. Thisarticlewas originally posted on FX Empire • Gold Price Prediction for September 6, 2017 • Market Snapshot – Markets Recover as Risks Recede • Commodities Daily Forecast – September 5, 2017 • Trading Mix of Bitcoin, Gold and SP500 • Gold Price’s Bullish Movement Extended To 1339.69 • Gold Price Futures (GC) Technical Analysis – September 5, 2017 Forecast \|\| Gold Price Prediction for September 6, 2017: Gold prices surged higher in the wake of this weekend’s hydrogen bomb detonation that brought forward a risk aversion trade that paved the way for higher gold prices. The yellow metal surge breaking out above resistance which was seen near the November 6, 2016 highs at 1,337. Support on the yellow metal is seen near the 10-day moving average at 1,312. The next level of target resistance on gold prices is seen near the July 2016 highs at 1,371. Momentum is Positive but Gold is Overbought Momentum is positive as the RSI (relative strength index) which is a momentum oscillator that measures accelerating and decelerating momentum, broke out to fresh 5-month highs, which reflects accelerating positive momentum. The only caveat is that the current reading of 74, is above the overbought trigger level of 70 and could foreshadow a correction in gold prices. This article was originally posted on FX Empire More From FXEMPIRE: Gold Price Prediction for September 6, 2017 Market Snapshot – Markets Recover as Risks Recede Commodities Daily Forecast – September 5, 2017 Trading Mix of Bitcoin, Gold and SP500 Gold Price’s Bullish Movement Extended To 1339.69 Gold Price Futures (GC) Technical Analysis – September 5, 2017 Forecast \|\| The Magomedov Brothers—Oligarchs Via Cronyism?: Brothers Ziyavudin and Magomed Magmedov are among the top 50 wealthiest people in Russia. Though well-connected and established, they remain a mystery to the greater public. The family name made waves most recently when it was rumored that Ziyavudin had shown interest in buying shares in the UFC . This was a departure from his normal interests in logistical investments, raising eyebrows as to what other obscure plans he has made for the future. The Magomedovs are co-owners of the Summa Group, a giant multi-faceted holding company. The Summa Group has massive investments across various fields including port logistics, engineering, construction, telecommunications, and oil and gas. Their huge business successes have earned them vast political and financial power. Their lofty status is also partially due to talk of the Hyperloop One creating a “New Silk Road”, connecting the Far East to European countries and drastically increasing trade transportation possibilities. The Magomedovs are major investors in the project. But their rise has not come without a cost. The Summa Group and the Magomedovs, especially Ziyavudin, are far from having a clean slate, and their dubious past dealings overshadow their current ventures. Ziyavudin himself has a reputation burdened with failed contracts , political cronyism, extortion and even bribery . Questions have been raised as to the Magomedovs’ ultimate motives in both their recent Hyperloop One and rumored UFC ventures. Shady Associations Ziyavudin and Magomed are not your typical billionaires. Having grown up in Dagestan, a rough and impoverished Northern Caucasus province, the Magomedov brothers have taken their street smarts into the world of politics and business. Ziyavudin has used his associations, no matter how suspect, for his personal benefit. In a short matter of time he has transformed himself from the owner of a little-known pipeline company to a major player and a member of the Russian oligarchy. Story continues The Magomedov brothers’ business partners are not always squeaky clean either, which raises eyebrows from critics regarding their dealings. The brothers have been on advisory boards for multiple corporations and banks in Russia. Most significantly, Ziyavudin sat on the board of Diamond Bank, as well as others which were headed by Aleksei Frenkel. Diamond’s license would eventually be revoked by the Central Bank of Russia for repeated illegal activities, and suspected money laundering for criminal rings. The story of Diamond Bank would deepen in controversy when a co-owner, Aleksander Slesare, his family, and the deputy chairman of the Central Bank Adrei Kozlov, who ordered the license revoked, were found murdered. Aleksei, Zivayudin’s partner and confidante on the Diamond board, would eventually be arrested for ordering the murder of Kozlov. Though not directly guilty, Zivayudin’s critics question whether his openness to shady dealers has an impact on his own private ventures. Ziyavudin’s main ascent was launched under the Medvedev presidency, and he has maintained close ties in the government. Medvedev had issued a call to increase development in the Northern Caucasus region to boost tourism, which Magomedov answered with vigor. This led directly to state contracts with Ziyavudin, who consequently shared a direct peer in Medvedev’s government. Arkady Dvorkovich, the former Deputy Prime Minister to Medvedev, was an old friend of Magomedov. They became acquainted in their younger years while studying together at Moscow State University. This precarious connection is widely rumored by many to be the sole catalyst for Ziyavudin’s rise to oligarchy. Under Medvedev and Dvorkovich’s watch, Magomedov’s net worth soared to a nearly .1 billion in just a few years. Though he denies that cronyism played a part in his rise, questions remain as to how a relatively unknown businessman in the Dagestan province could turn into a multi-billionaire oligarch in such a short period of time without the help of friends. Bouncing Back During Putin’s return as the unmatched leader of Russia, Magomedov suffered a huge loss, both financially and politically. In an effort to secure his position of authority, Putin removed several Medvedev allies, including industry tycoons who flourished under Medvedev, which greatly affected Magomedov. Ziyavudin initially suffered a net loss of over a billion dollars, and has slowly been trying to build his way back into Putin’s good graces. Critics and those hesitant of Magomedov warn that any new venture put on by the mysterious billionaire are simply an attempt to regain footing and become politically relevant. It is rumored that his attempt at buying UFC share was his shot at sports diplomacy, a typically successful tactic in Russia. Furthermore, his interest in bringing the Hyperloop One concept to create a “New Silk Road” is questionable in its sincerity. Critics question his motives as simply a push for political expedience. Moreover, his past contractual failures and controversies are cited, such as the Kaliningrad stadium, the oil terminal in the port of Rotterdam, as well as other failed projects and bankruptcy rumors. They argue Magomedov’s oversight in such a project would not only inevitably fail, but waste government taxes in the process, only to line Magomedov’s wallet. Overall, the Megomadov brother’s suspicious allies and shady dealings do not paint a pretty picture for future ventures. Photo credit: public domain See more from Benzinga Investing in Education: Entrepreneurs Place Human Capital at the Top Why the Sudden Surge In Bitcoin And What Do The Professionals Think? Is Revenue Generation On Blockchain The Wave Of The Future? © 2017 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. \|\| The Magomedov Brothers—Oligarchs Via Cronyism?: Brothers Ziyavudin and Magomed Magmedov are among the top 50 wealthiest people in Russia. Though well-connected and established, they remain a mystery to the greater public. The family name made waves most recently when it was rumored that Ziyavudin had shown interest inbuying shares in the UFC. This was a departure from his normal interests in logistical investments, raising eyebrows as to what other obscure plans he has made for the future. The Magomedovs are co-owners of the Summa Group, a giant multi-faceted holding company. The Summa Group has massive investments across various fields including port logistics, engineering, construction, telecommunications, and oil and gas. Their huge business successes have earned them vast political and financial power. Their lofty status is also partially due to talk of theHyperloop Onecreating a “New Silk Road”, connecting the Far East to European countries and drastically increasing trade transportation possibilities. The Magomedovs are major investors in the project. But their rise has not come without a cost. The Summa Group and the Magomedovs, especially Ziyavudin, are far from having a clean slate, and their dubious past dealings overshadow their current ventures. Ziyavudin himself has a reputation burdened withfailed contracts, political cronyism,extortionand evenbribery. Questions have been raised as to the Magomedovs’ ultimate motives in both their recent Hyperloop One and rumored UFC ventures. Shady Associations Ziyavudin and Magomed are not your typical billionaires. Having grown up in Dagestan, a rough and impoverished Northern Caucasus province, the Magomedov brothers have taken their street smarts into the world of politics and business. Ziyavudin has used his associations, no matter how suspect, for his personal benefit. In a short matter of time he hastransformed himselffrom the owner of a little-known pipeline company to a major player and a member of the Russian oligarchy. The Magomedov brothers’ business partners are not always squeaky clean either, which raises eyebrows from critics regarding their dealings. The brothers have been on advisory boards for multiple corporations and banks in Russia. Most significantly, Ziyavudin sat on the board of Diamond Bank, as well as others which were headed by Aleksei Frenkel. Diamond’s license would eventually be revoked by the Central Bank of Russia for repeated illegal activities, and suspected money laundering for criminal rings. The story of Diamond Bank would deepen in controversy when a co-owner, Aleksander Slesare, his family, and the deputy chairman of the Central Bank Adrei Kozlov, who ordered the license revoked, were found murdered. Aleksei, Zivayudin’s partner and confidante on the Diamond board, would eventually be arrested for ordering the murder of Kozlov. Though not directly guilty, Zivayudin’s critics question whether his openness to shady dealers has an impact on his own private ventures. Ziyavudin’s main ascent was launched under the Medvedev presidency, and he has maintained close ties in the government. Medvedev had issued a call to increase development in the Northern Caucasus region to boost tourism, which Magomedov answered with vigor. This led directly to state contracts with Ziyavudin, who consequently shared a direct peer in Medvedev’s government. Arkady Dvorkovich, the former Deputy Prime Minister to Medvedev, was an old friend of Magomedov. They became acquainted in their younger years while studying together at Moscow State University. This precarious connection is widely rumored by many to be the sole catalyst for Ziyavudin’s rise to oligarchy. Under Medvedev and Dvorkovich’s watch, Magomedov’s net worth soared to a nearly .1 billion in just a few years. Though he denies that cronyism played a part in his rise, questions remain as to how a relatively unknown businessman in the Dagestan province could turn into a multi-billionaire oligarch in such a short period of time without the help of friends. Bouncing Back During Putin’s return as the unmatched leader of Russia, Magomedov suffered a huge loss, both financially and politically. In an effort to secure his position of authority, Putin removed several Medvedev allies, including industry tycoons who flourished under Medvedev, which greatly affected Magomedov. Ziyavudin initially suffered a net loss of over a billion dollars, and has slowly been trying to build his way back into Putin’s good graces. Critics and those hesitant of Magomedov warn that any new venture put on by the mysterious billionaire are simply an attempt to regain footing and become politically relevant. It is rumored that his attempt at buying UFC share was his shot at sports diplomacy, a typically successful tactic in Russia. Furthermore, his interest in bringing the Hyperloop One concept to create a “New Silk Road” is questionable in its sincerity. Critics question his motives as simply a push for political expedience. Moreover, his past contractual failures and controversies are cited, such as the Kaliningrad stadium, the oil terminal in the port of Rotterdam, as well as other failed projects and bankruptcy rumors. They argue Magomedov’s oversight in such a project would not only inevitably fail, but waste government taxes in the process, only to line Magomedov’s wallet. Overall, the Megomadov brother’s suspicious allies and shady dealings do not paint a pretty picture for future ventures. Photo credit: public domain See more from Benzinga • Investing in Education: Entrepreneurs Place Human Capital at the Top • Why the Sudden Surge In Bitcoin And What Do The Professionals Think? • Is Revenue Generation On Blockchain The Wave Of The Future? © 2017 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. \|\| 7 Reasons Why China Banned ICOs: China enacted a draconian measure this weekend. Its regulators outlawed initial coin offerings or ICOs , a new way of financing startups based on blockchains, the technology that underpins cryptocurrencies. (For more on blockchain tech , read this recent Fortune magazine cover story.) In a joint decree from seven financial regulatorsincluding the Peoples Bank of China, the Ministry of Industry and Information Technology, and the China Banking Regulatory Commissionstate officials laid out their reasoning . The group said they consider crypto token sales to be an unauthorized and illegal public financing activity, which involves financial crimes such as the illegal distribution of financial tokens, the illegal issuance of securities and illegal fundraising, financial fraud and pyramid scheme. In other words: dont even think about getting involved with an ICO. We dug into the regulators text and applied our own expertise to provide some context for the news. Below are seven reasons why China likely instituted the ban. 1. ICOs are out of control The ICO craze has gotten out of hand. In the first half of the year, ICOs raised more than $1 billion for blockchain-based projectsmany of which consist of little more than a white paper and some marketing spiel about disrupting various industries with new kind of Internet money. Celebrities ranging from pro boxer Floyd Mayweather to hotel heiress Paris Hilton have been endorsing the stuff. Without a counterbalance, the sector would continue to grow unchecked; China decided to put the kibosh on the funding mechanism before the space could get any more bonkers. 2. Many ICOs are scams It doesnt take a financial whiz to understand that many ICOs operate like classic pump and dump scams or pyramid schemes. Get people to throw money behind an asset or opportunity they dont understand all that well; hope the price of the mostly worthless junk inflates; cash out. There are too many hucksters out there simply looking to make a quick buck. Story continues 3. The mania poses a danger to retail investors. When the crypto bubble bursts who is going to get hurt? Joe investor, thats who. By clamping down on the ICO sector, China may be warding off bigger financial troubles for consumers down the line. There are securities laws for a reason. 4. China is a hotbed for the action (scams and all) China is an epicenter for cryptocurrency mania. In the first half of the year, China-based ICOs raised about $400 million through 65 offerings with more than 100,000 investors, according to a report from the National Internet Finance Association of China . That puts the country in a particularly precarious position if and when the crypto boom comes crashing down. Get Data Sheet , Fortunes technology newsletter. 5. China wants its own coin Weve heard rumors that China is looking to mint its own national cryptocurrency. If the country succeeds it will have greater control over that platform than the present options (Bitcoin, Ethereum, etc.). Regulators may be clearing the way for this this eventual debut. 6. ICOs threaten incumbents China likes to pick its business winners. In general, ventures originating outside the country tend to fail for lack of state support. In their very conception, ICOs are designed to threaten or circumvent traditional power playersto get around regulatory obstacles, to provide a new way to access venture capital, to build projects or protocols that might one day compete with incumbent businesses and provide censorship-resistant alternatives. A lack of state control means that government views the whole lot of ICOs warily. 7. China wants a cool-off period By considering all ICOs illegal rather than differentiating ones that trade in unregistered securities from ones that act more like tokens to use certain decentralized apps, China is taking a heavy-handed approach. (In the United States, the SEC appears to be gearing up for a distinction between the two types.) China may simply be trying to cool off the crypto mania with a strict, if temporary, edict. Theres no knowing whether this ban is forever, or whether it has been prompted by the present craze. Fred Wilson, an investor at Union Square Ventures who is bullish on cryptocurrencies, penned a take on the move. He observed that many have speculated that this Chinese ban is temporary to give the Chinese authorities time to come up with sensible regulations. I suspect that is right. This is part of Fortunes new initiative, The Ledger, a trusted news source at the intersection of tech and finance. For more on The Ledger, click here . \|\| 7 Reasons Why China Banned ICOs: Chinaenacted a draconian measurethis weekend. Its regulators outlawedinitial coin offeringsorICOs, a new way of financing startups based on blockchains, the technology that underpins cryptocurrencies. (For more onblockchain tech, read this recentFortunemagazine cover story.) In ajoint decreefrom seven financial regulators—including the People’s Bank of China, the Ministry of Industry and Information Technology, and the China Banking Regulatory Commission—state officialslaid out their reasoning. The group said they consider crypto token sales to be “an unauthorized and illegal public financing activity, which involves financial crimes such as the illegal distribution of financial tokens, the illegal issuance of securities and illegal fundraising, financial fraud and pyramid scheme.” In other words: don’t even think about getting involved with an ICO. We dug into the regulators’ text and applied our own expertise to provide some context for the news. Below are seven reasons why China likely instituted the ban. The ICO craze has gotten out of hand. In the first half of the year, ICOsraised more than $1 billionfor blockchain-based projects—many of which consist of little more than a white paper and some marketing spiel about disrupting various industries with new kind of Internet money. Celebrities ranging from pro boxerFloyd Mayweatherto hotel heiress Paris Hilton have been endorsing the stuff. Without a counterbalance, the sector would continue to grow unchecked; China decided to put the kibosh on the funding mechanism before the space could get any more bonkers. It doesn’t take a financial whiz to understand that many ICOs operate like classic pump and dump scams or pyramid schemes. Get people to throw money behind an asset or opportunity they don’t understand all that well; hope the price of the mostly worthless junk inflates; cash out. There are too many hucksters out there simply looking to make a quick buck. When the crypto bubble bursts who is going to get hurt? Joe investor, that’s who. By clamping down on the ICO sector, China may be warding off bigger financial troubles for consumers down the line. There are securities laws for a reason. China is an epicenter for cryptocurrency mania. In the first half of the year, China-based ICOs raised about $400 million through 65 offerings with more than 100,000 investors, according to a report from theNational Internet Finance Association of China. That puts the country in a particularly precarious position if and when the crypto boom comes crashing down. Get Data Sheet,Fortune’stechnology newsletter. We’ve heard rumors that China is looking to mint its own national cryptocurrency. If the country succeeds it will have greater control over that platform than the present options (Bitcoin, Ethereum, etc.). Regulators may be clearing the way for this this eventual debut. China likes to pick its business winners. In general, ventures originating outside the country tend to fail for lack of state support. In their very conception, ICOs are designed to threaten or circumvent traditional power players—to get around regulatory obstacles, to provide a new way to access venture capital, to build projects or protocols that might one day compete with incumbent businesses and provide censorship-resistant alternatives. A lack of state control means that government views the whole lot of ICOs warily. By considering all ICOs illegal rather than differentiating ones that trade in unregistered securities from ones that act more like tokens to use certain decentralized apps, China is taking a heavy-handed approach. (In the United States, the SEC appears to be gearing up for a distinction between the two types.) China may simply be trying to cool off the crypto mania with a strict, if temporary, edict. There’s no knowing whether this ban is forever, or whether it has been prompted by the present craze. Fred Wilson, an investor at Union Square Ventures who is bullish on cryptocurrencies,penned a takeon the move. He observed that “many have speculated that this Chinese ban is temporary to give the Chinese authorities time to come up with sensible regulations. I suspect that is right.” This is part ofFortune’snew initiative,The Ledger,a trusted news source at the intersection of tech and finance. For more onThe Ledger,click here. \|\| Pound touches over $1.30 against dollar as dovish Fed speech knocks interest rate hike hopes: Lael Brainard said that inflation is falling Growth in services sector slowed in August, according to latest PMI survey; a weaker-than-expected performance Disappointing services figures send "warning signals" about the health of the UK economy, says IHS Markit Pound touches over $1.30 as dovish Fed policymaker speech warns of weak inflation; knocks Fed interest rate hike hopes FTSE 100 retreats back into the red despite strong start as pound rallies against the dollar 4:49PM FTSE 100 closes 0.5pc lower The pound's advances killed off hope that the FTSE 100 could rebound from yesterday's losses The pound's afternoon rally against the dollar on those US Federal Reserve comments killed off any hope that the FTSE 100 might rebound from yesterday's losses. The UK's blue-chip index has finished 0.5pc lower with financial stocks coming off worst in London this afternoon. Our markets wrap and market report will follow soon... 4:21PM Fed policymaker urges caution on interest rates US Federal Reserve policymaker Lael Brainard with former chancellor George Osborne Although the pound had already advanced on the dollar this morning, US Federal Reserve policymaker Lael Brainard's comment that inflation is "well short" of its target has propelled sterling over $1.30 for the first time in over three weeks. Ms Brainard, a dovish member of the FOMC, urged for caution on hiking rates due to the US' persistently weak inflation. Here are a few snippets from her speech that are worth a look at: "Despite this benign picture for the U.S. economy and continued increases in resource utilization, core inflation, as measured by changes in the PCE price index for items other than food and energy, slowed by almost 1/2 percentage point relative to the pace a year ago. Indeed, both overall and core inflation were only 1.4 percent for the year through July, well short of the Federal Open Market Committee's (FOMC) objective... "Once balance sheet normalization is under way, I will be looking closely at the evolution of inflation before making a determination about further adjustments to the federal funds rate. We have been falling short of our inflation objective not just in the past year, but over a longer period as well. My own view is that we should be cautious about tightening policy further until we are confident inflation is on track to achieve our target." Story continues 4:12PM DS Smith completes giant US deal as sales remain high DS Smith supplies packaging to different sectors, including online retailers and food businesses Sales at packaging company DS Smith are continuing to improve, as the firm completes its giant deal to acquire a US company and gain a foothold in the American market. The firm said in a trading update ahead of its annual general meeting on Tuesday that sales growth since May 1 has been well ahead of the same period last year, meeting its expectations. “Progress with our pan-European and e-commerce customers was particularly strong again,” it said, adding that the last quarter had been "encouraging". It has also benefited from a recovery in paper prices after costs rose earlier in the year. Read Rhiannon Bury's full report here 3:45PM Fidelity and Hermes join calls for Sports Direct chairman Hellawell to go Sports Direct chairman Keith Hellawell Sports Direct is bracing for yet another stormy encounter with shareholders on Wednesday as Hermes and Fidelity join the pack of independent investors and advisory groups rebelling against chairman Keith Hellawell. Former police chief and drugs tsar Keith Hellawell has committed to stepping down from the board if the majority of independent investors revolt again at Sports Direct's annual meeting, which could spell further boardroom upheaval for the sportswear retailer. Fidelity, which owns a 6pc stake in Sports Direct, is understood to be voting against Mr Hellawell - joining Aberdeen Standard Investments, Royal London and Legal & General is rebelling against the longstanding chairman. Glass Lewis, Pirc and the Institutional Shareholder Service have all recommended shareholders vote against Mr Hellawell’s re-election. Read Ashley Armstrong's full report 3:18PM US equities fail to avoid risk aversion; pound flirts with $1.30 after Fed comments US stocks have retreated early on in New York US stocks have had their dose of risk aversion this afternoon and retreated firmly into the red after avoiding the North Korea-related sell-off yesterday due to a bank holiday. Internationally-exposed financials have pulled down the Dow Jones most with the US benchmark index sinking 0.5pc early on. *BRAINARD: CAUTIOUS ON HIKING AGAIN UNTIL INFLATION ON TRACK — Michael Hewson �� (@mhewson_CMC) September 5, 2017 Meanwhile on the currency markets, the pound is taking advantage of the dollar being knocked by US Federal Reserve policymaker Lael Brainard saying that inflation is falling "well short" of its 2pc target, meaning that the planned hike in interest rates before the end of the year could be delayed. Sterling has jumped 0.6pc higher against the dollar and is now flirting with the $1.30 mark for the first time since mid-August. 2:53PM Growth in UK services sector falls to 11-month low The services sector includes the UK's big financial firms Growth in the services sector has fallen to its lowest rate in almost a year, in a further blow to the UK economy. The sector, which covers everything from banking to teaching and accounts for around 75pc of Britain’s GDP, grew at a slower rate in the month of August, according to the latest purchasing managers index (PMI) from IHS Markit. Expectations of growth came in at 53.2 in August, lower than the 53.8 recorded in July and below the 53.5 forecast by economists. This makes last month the weakest since September 2016. Firms blamed “subdued client demand” and rising uncertainty about the UK economic outlook for the lack of strong growth. Read Rhiannon Bury's full report here 2:24PM US markets preview US stocks are expected to nudge down this afternoon The US is beginning to wake up across the Atlantic and after missing the North Korea pull-back yesterday on equity markets due to a bank holiday American stocks are expected to retreat into the red. There isn't much economics data to distract traders from the tensions on the Korean Peninsular this afternoon with factory orders data for July the pick of the bunch stateside. Spreadex analyst Connor Campbell provided this preview of the action in the US: "Looking to this afternoon and after missing much of the North Korea-reaction due to Labor Day the US markets are set for a sluggish start. The Dow Jones is facing a flat open when the bell rings on Wall Street, keeping the index around the 21900 mark. "Beyond any further nuclear developments the only other thing to focus on this afternoon is the factory orders figure, set to plunge from 3.0% to -3.3% month-on-month." 1:59PM Attention begins to shift to European Central Bank Mario Draghi could announce the change in monetary policy this week With investor angst over North Korea waning, the markets' gaze is now beginning to shift towards the European Central Bank's policy meeting on Thursday. The ECB is thought to be on the verge of announcing the winding down of its €60bn-a-month quantitative easing programme as the eurozone's robust recovery continues but the strength of the euro could actually delay the central bank's plans. Analysts believe that the ECB is worried that the strong euro will weigh on inflation and thus delay the central bank plan to tape its asset-purchasing programme. Reports that the announcement by ECB president Mario Draghi could be delayed until December are exaggerated, however, according to IG's chief market analyst Chris Beauchamp. If Mr Draghi doesn't announce the change in monetary policy on Thursday then October 26 and December 14 are the next key opportunities for him to announce a shift in policy. Mr Beauchamp commented: "Absent some commitment to actually boost the QE programme, it seems there is little that the ECB can really do to stop euro appreciation. After all, economic growth continues, which makes eurozone stocks attractive. And to buy eurozone stocks, you need to buy euros first. "A higher euro would tend to mean that the major eurozone indices will continue to suffer, continuing the downtrend that has persisted since June. For now, it seems difficult to perceive a means by which the ECB can arrest the euro’s rise, since at some point the bank will want to cut back further the monthly asset purchase programme. But for the moment, it may not have much choice but to carry on as before, in a bid to boost inflation." 1:33PM 10 cheap items to buy today that could make you a fortune 10 cheap items to buy today that could make you a fortune As interest rates on savings continue to shrink, and with household income falling , people are considering other means of making extra cash - including snapping up collectibles. Gumtree and antiques expert Tracy Martin have teamed up to predict which everyday items are likely to be worth a small fortune in years to come. 12:58PM The North Sea must ‘earn its right to grow’, says Shell boss Shell boss Ben Van Beurden said the North Sea needs to “earn its right to grow” amid “challenging times” for the oil and gas sector The North Sea still has the support of supermajors BP and Royal Dutch Shell but the basin will need to earn its right to grow within a rapidly changing energy landscape, oil bosses have warned. Oil industry heavyweights have converged on Aberdeen this week for a conference focused on the future of the North Sea as oil majors shift their portfolios towards low cost oil, petroleum products, gas and even renewables. Ben Van Beurden, Shell’s chief executive, said the Anglo-Dutch group is still committed to the basin after its $3bn sell-off to private equity backed Chrysaor, but added that the North Sea needs to “earn its right to grow” amid “challenging times” for the oil and gas sector. The North Sea was hard hit by the recent oil price crash due to higher costs. In the wake of the downturn oil producers in the region will need to adapt to a lower range of oil market prices and slow but steady shift towards lower carbon energy options. Read Jillian Ambrose's full report here 12:49PM Lunchtime update: UK services sector slowdown sharper than expected The services sectors hasn't grown this slowly since September 2016 Growth in the UK services sector in August slowed to its weakest level in almost a year, IHS Markit's latest PMI survey revealed this morning. Increasing cost pressures and heightened economic uncertainty pulled down the UK's most important sector last month with IHS Markit commenting that the recent weakness in the construction and services sectors will send "warning signals" on the health of the UK economy. That hasn't deterred the pound, however, which has made small gains on the currency markets, rising 0.3pc against the dollar to $1.2959. That mid-morning rally has wounded a modest recovery on the FTSE 100 this morning with Reckitt Benckiser pulling down the index most as the dust settles from its boardroom reshuffle yesterday. On the FTSE 250, software maker Aveva has surged 27pc after finally reaching an £3bn deal to merge with French giant Schneider Electric at the third attempt. Here's the current state of play in Europe: FTSE 100: -0.05pc DAX: -0.17pc CAC 40: +0.03pc IBEX: -0.17pc 12:29PM Bitcoin price drops 20pc in three day Bitcoin plummeted after reaching its $5,000 peak The price of Bitcoin has plummeted in the last three days after the virtual currency hit record levels. Values of other cryptocurrencies such as Ethererum and Ripple have also plunged, wiping billions off their combined values. The currencies have exploded in value in recent months amid surging interest in initial coin offerings (ICOs) , a newly-popular way for companies to raise funds. The surging prices of Bitcoin, Ethereum and others had appeared to defy warnings of a bubble, but sceptics believe that a crash will only be a matter of time. Read James Titcomb's full report here 12:04PM Games Workshop says profits and revenues 'well above' previous year as recovery continues Board game Space Hulk is set in the fictional universe of Warhammer 40,000 The recovery of Games Workshop shows no signs of slowing as the miniature figurine manufacturer revealed that profits are “well above” the previous year. In a brief update to the stock market, the Nottingham-based company said both revenues and profits for the year were considerably ahead of the same period in the previous financial year. The update, which includes the announcement of a dividend of 35p per share, sent Games Workshop’s share price up by more than 10pc in early trading. It marks the latest step in the company’s comeback from a challenging year in 2015, when it was hit by disappointing Christmas sales and a slowdown on the high street. Read Sam Dean's full report here 11:53AM Merkel's clean air pledge lifts German carmakers; FTSE 100 lacking 'catalyst' Ms Merkel has pledged more clean air aid to help slow restrictions on diesel cars The FTSE 100 is lacking a "catalyst" to kick-start its day of trading, according to Accendo Markets head of research Mike Van Dulken. The UK's blue-chip index has been weakened by a rallying pound while the DAX in Germany has jumped 0.5pc higher as its big car producers rise on chancellor Angela Merkel's pro-automobile industry rhetoric. She has said that she would double the budget for clean air aid in order to reduce the threat of restrictions on diesel cars. Mr Van Dulken said on today's movements in Europe: "European equities are positive to differing degrees. The UK FTSE needs a catalyst to escape this week's range, Germany's DAX is flirting with a bullish breakout on Autos-friendly rhetoric from Merkel and Dow Jones futures are testing their highs of the week before investors return from the Labor day long weekend. "Sentiment is positive despite ongoing geopolitical issues, investors further demonstrating their thick skin. Helping out is a combination of M&A from both sides of the Atlantic, stable macro data in the Eurozone and continued gains for metals and oil." 11:36AM Retail sales pick-up to 1.3pc; weak comparable flatters figures While retail sales growth rebounded, the figures were up against a "dismal" August last year There is some slightly less bleak data on the UK economy from the British Retail Consortium for traders to digest this morning but it comes with a big dollop of caveat. The BRC's latest data showed that retail sales growth in August rebounded to 1.3pc compared to the previous year but it is being compared to a very weak August for sales growth last year. The BRC said that non-food sales returning to growth "as shoppers’ attentions turned to homewares, autumn clothing ranges and the new school term" underpinned the figures. Helen Dickinson, the BRC's chief executive, said that the figures paint a more positive picture on the health of consumer spending than the reality. She explained: "Non-food sales have only just recovered to levels seen two years ago, after a dismal August in 2016; while strong figures for food are largely the result of rising prices, leaving growth in volume terms weaker than last year. "Stark challenges lurk around the corner for the retail industry. Purchasing decisions are very much dictated by a shrinking pool of discretionary consumer spend, with the amount of money in people’s pockets set to be dented by inflation and statutory rises in employee pension contributions in a few months’ time. It’s therefore crucial to protect consumers wherever possible from further cost pressures. " 11:11AM Stock markets update: Software maker Aveva soars 30pc after finally agreeing merger with Schneider Electric Redrow is one of the top gainers on the FTSE 250 With all that services sector growth excitement, we've neglected the big movers on the stock markets in London this morning. Software maker Aveva shares have soared almost 30pc after finally reaching an agreement to merge with French multinational Schneider Electric at the third time of asking while housebuilder Redrow has popped 4.6pc on its record results with the other housebuilders enjoying a boost from a read across. Oil shares are among the top gainers on the FTSE 100 after the price of crude firmed up following last week's Hurricane Harvey-related losses but their heavy weighting is not enough to stop the overall index slipping towards flat territory. At the other end, consumer goods giant Reckitt Benckiser has retreated 2.4pc on a broker downgrade from Exane BNP Paribas while gold producers Fresnillo and Randgold Resources have retreated as quickly fading investor angst over North Korea pulls down safe haven gold. 10:32AM Services growth slowdown reaction: Figures suggest economy is struggling to pick-up The weighted average of the three PMIs is comfortably below the levels that have prompted the MPC to raise interest rates in the past, says Pantheon Macro Today's services sector growth shows that the economy is "struggling to pick-up the pace in the third quarter", commented Capital Economics' UK economist Paul Hollingsworth. He said that the combined PMI reading – which includes manufacturing, construction and services – is consistent with growth of around 0.4pc for the third quarter, a slight acceleration from 0.3pc in the previous quarter. Pantheon Macro UK economist Samuel Tombs agrees that the figures show "modest GDP growth in the third quarter". He said: "Despite the slowdown, the largest majority of services firms since July 2015 reported that work backlogs increased in August. In response, firms hired the most workers in 19 months and offered slightly higher wages to retain key staff; the input price index picked up to its highest level since February. "But with the decline in the new orders index to 54.2 in August from 54.7 in July signalling continued weakness in demand, we doubt that stronger rates of growth in either employment or wages will be sustained." Something for everyone in the services UK PMI numbers today which were at an 11 month low https://t.co/TdG63cT4Zf pic.twitter.com/atV7jCkhDk — Chris Bailey (@Financial_Orbit) September 5, 2017 10:19AM Services growth slowdown reaction: Cost pressures may alert Bank of England's MPC UK services PMI - moving further away from Bank of England rate hike territory pic.twitter.com/M7aTsXhGNJ — Andy Bruce (@BruceReuters) September 5, 2017 Dean Turner, economist at UBS Wealth Management, said on today's disappointing services growth figures that the cost pressures highlighted in the report could draw the attention of the Bank of England's Monetary Policy Committee. Mr Turner added this on today's data: "The most interesting aspect of the report was the reference to cost pressure and the outlook for hiring which accelerated for the third consecutive month. As unemployment is already low, this adds to the concerns that labour shortages could start to push wages higher in the months ahead. With this in mind, today’s figures could make the Monetary Policy Committee sit up and take note. "That said, it remains our view that the Bank will keep interest rates on hold through 2018. The data is not as strong as some would hope, and with inflation likely to peak around the turn of the year, as well as the uncertainties presented by Brexit, it’s unlikely there’ll be much of an appetite for the majority of the MPC to raise rates anytime soon" 9:58AM Services sector growth slows in August; data sends 'warning signals' about health of UK economy UK Services PMI slips to 53.2 in August, lowest since September 2016 #PMI #BOE #GBP pic.twitter.com/HisB3GpY4R — Sigma Squawk (@SigmaSquawk) September 5, 2017 This morning's services PMI data slowdown shows growth in the sector at its weakest since September 2016, the drop-off being far sharper than economists had forecast. IHS Markit said that stronger cost pressures across the sector had pulled down the reading with input price inflation at its fastest since February. It was the sector's 13th consecutive month of growth but the report said that subdued client demand and heightened uncertainty about the economic outlook had weighed on growth. Chris Williamson, chief business economist at IHS Markit, said that today's services sector figures could be warning signals for the UK economy. He added: "Robust manufacturing growth means the economy may be rebalancing towards goods production, aided by the weaker pound, but the slowdowns in services and construction send warning signals about the health of the economy. “In services, the weaker growth trend was most evident in consumer–facing sectors such as hotels & restaurants and other personal services, which includes businesses such as cinemas, gyms and hairdressers. "The overall level of optimism also remained subdued, mainly linked to Brexit uncertainty, close to levels that have previously been indicative of the economy stalling or even contracting." 9:35AM Growth in the UK services sector slows Services sector growth across Europe was weaker than expected Growth in the UK services sector slowed in August, according to IHS Markit's latest PMI survey. Services PMI fell to to 53.2 from July's uptick, a weaker-than-expected performance from the sector. The pound retreated to flat territory against the dollar ahead of the figures but has steadied since the disappointing data dropped, trading at $1.2922. 9:19AM Redrow posts record results and hikes dividend by 70pc Redrow has hiked its dividend in its results this morning FTSE 250 housebuilder Redrow has made light of the slowdown in the housing market by posting record results and hiking its dividend by 70pc. Redrow said its pre-tax profits for the year to the end of June had increased by 26pc to £315m as revenues jumped 20pc to a record £1.66bn. Revenues were boosted by a 7pc increase in Redrow’s average selling price, to £309,800. Legal completions, meanwhile, grew 15pc to 5,416. The strong set of results allowed the company to raise its full-year dividend by 70pc to 17p and upgrade its profit guidance in the medium term. The update sent Redrow shares up more than 5pc in early trading. Read Sam Dean's full report here 9:13AM Eurozone services PMI data hints at weaker-than-expected UK reading Eurozone final services PMI for August revised lower to 54.7 from 54.9 #PMI #EUR pic.twitter.com/T4SxVyqcyZ — Sigma Squawk (@SigmaSquawk) September 5, 2017 Italy Services PMI makes it a poor start to the day; 55.1 vs 55.5e however the prior 56.3 was a 10yr high — Mike van Dulken (@Accendo_Mike) September 5, 2017 The eurozone's services PMI figures have dropped a little earlier than our own and if they are anything to go by then we should be expecting a sharper drop-off than initially thought in our own sector's performance. Spain, France, Italy and the overall eurozone all underperformed economists' expectations this morning with only Germany defying the trend. Some analysts have pointed out that some of those falls are from multi-year highs but nonetheless economists thought the sector would hold out better than it has. Following the disappointing figures on the continent, the pound has nudged up against the euro, trading 0.1pc higher at €1.0879. There were no signs of a slowdown over in China, however, with their services sector growth picking up to 52.7 overnight. #China Caixin services PMI +1.2 to 52.7 in Aug. Not much slowdown here pic.twitter.com/qk2TwOmQ7K — Shane Oliver (@ShaneOliverAMP) September 5, 2017 8:56AM Services PMI preview: Growth in UK's most important sector expected to soften The services sector could outperform expectations, according to CMC Markets analyst Michael Hewson The contrasting growth figures in the manufacturing and construction sectors' latest PMI surveys have cranked up the pressure on the services sector's own reading due today. Growth in the sector, the UK's most important, is expected to weaken slightly to 53.5 from July's solid 53.8 reading (any figure above 50 indicates growth). The closely watched survey due at 9.30am will provide investors a few more clues to the health of the UK economy with the construction PMI slipping to a one-year low yesterday and Friday's manufacturing PMI figure showing the sector continuing to rebound. CMC Markets' analyst Michael Hewson believes that it wouldn't be a surprise to see the services sector outperform expectations. He added on recent UK PMI figures: "The weak construction number contrasted with last weeks continued improvement in manufacturing and as such makes today’s services PMI number that much more important, given some of the recent softness seen in recent surveys here. "In July we saw a nice uptick to 53.8, after a bit of a slowdown in June, and it is expected that we might see some softening in August back to 53.5, though it wouldn’t be a surprise if we did outperform, particularly in areas that support travel, leisure and tourism." 8:35AM Agenda: Services sector data dominates investor focus Growth in the services sector is expected to soften slightly Welcome to our live markets coverage. Services PMI data dominates the markets' focus this morning with the reading holding added importance given the contrasting fortunes of the manufacturing and construction sectors in their own recent PMI readings. Ahead of the figures the pound has nudged up against the dollar, trading 0.1pc higher at $1.2935. Asia stocks on defensive after N Korea selloff but #China shares & Copper up on econ optimism. Bitcoin continues to fall after China action. pic.twitter.com/cXvKmYXlb4 — Holger Zschaepitz (@Schuldensuehner) September 5, 2017 North Korea's latest nuclear tests knocked risk appetite yet again yesterday but the increasing regularity of the rogue state's provocations meant that the pull-back on stocks markets is becoming more mild with each escalation. While shares retreated into the red once again and the usual safe haven suspects, gold, Japanese yen and Swiss franc, pushed higher, financial markets are numbing to Kim Jong-un's sabre-rattling with the FTSE 100 only slipping 0.36pc yesterday. Although mild caution still persists today, stock markets across Europe have clawed back lost ground with the FTSE 100 propelled into positive territory by the housebuilding sector. Barratt Developments leads the pack on the blue-chip index ahead of its full-year results tomorrow after rival Redrow reported record results and upgraded its guidance. Interim results: Dalata Hotel Group, IQE, Cairn Homes, Vipera, Alpha Fx Group Full-year results: Alumasc Group, A & J Mucklow Group, Mattioli Woods, Redrow AGM: 888 Holdings Trading statement: Mattioli Woods Economics: BRC Retail Sales Monitor y/y (UK), Services PMI (UK), Final Services PMI (US), Factory Orders m/m (US), ISM Non-Manufacturing PMI (US), IBD/TIPP Economic Optimism (US), Final Services PMI (EU), Retail Sales m/m (EU), Revised GDP q/q (EU) [Social Media Buzz] Cotizaciones al 06/09/2017 05:00 AM Bitcoin (BTC): 25.510.810 Ethereum (ETH): 1.847.665 Litecoin (LTC): 427.614 BTC Cash (BCH): 3.122.815 \|\| WTI 49.19USD +0.52 Brent 54.16USD +0.78 Bitcoin $4676.00 USD/RUB 57.44 EUR/RUB 68.49 USD/UAH 25.97 EUR/UAH 31.17 RUB/UAH 0.45 UAH/RUB 2.20 \|\| Winning roll number: 6 Congratulations to user nwo911 who won 0.01 #Bitcoin ! https://t.co/NXjB0j1YaN https://t.co/kphXVbMV8b \|\| Cotizaciones al 06/09/2017 12:00 AM Bitcoin (BTC): 25.110.610 Ethereum (ETH): 1.821.60...	4599.88, 4228.75, 4226.06, 4122.94, 4161.27, 4130.81, 3882.59, 3154.95, 3637.52, 3625.04
Given the historical Bitcoin prices from the last 90 days, predict the next 10 daily closing prices. The historical prices are: 3252.91, 3213.94, 3378.94, 3419.94, 3342.47, 3381.28, 3650.62, 3884.71, 4073.26, 4325.13, 4181.93, 4376.63, 4331.69, 4160.62, 4193.70, 4087.66, 4001.74, 4100.52, 4151.52, 4334.68, 4371.60, 4352.40, 4382.88, 4382.66, 4579.02, 4565.30, 4703.39, 4892.01, 4578.77, 4582.96, 4236.31, 4376.53, 4597.12, 4599.88, 4228.75, 4226.06, 4122.94, 4161.27, 4130.81, 3882.59, 3154.95, 3637.52, 3625.04, 3582.88, 4065.20, 3924.97, 3905.95, 3631.04, 3630.70, 3792.40, 3682.84, 3926.07, 3892.35, 4200.67, 4174.73, 4163.07, 4338.71, 4403.74, 4409.32, 4317.48, 4229.36, 4328.41, 4370.81, 4426.89, 4610.48, 4772.02, 4781.99, 4826.48, 5446.91, 5647.21, 5831.79, 5678.19, 5725.59, 5605.51, 5590.69, 5708.52, 6011.45, 6031.60, 6008.42, 5930.32, 5526.64, 5750.80, 5904.83, 5780.90, 5753.09, 6153.85, 6130.53, 6468.40, 6767.31, 7078.50.	[Bitcoin Technical Analysis for 2017-11-02] Volume: 4653770240, RSI (14-day): 78.42, 50-day EMA: 5224.46, 200-day EMA: 3584.02 [Wider Market Context] Gold Price: 1274.90, Gold RSI: 45.66 Oil Price: 54.54, Oil RSI: 69.98 [Recent News (last 7 days)] Ford crushes October sales estimates amid truck boom (F, GM, FCAU, NSANY): New cars on a truck REUTERS/Paulo Whitaker US auto sales rose more than expected in October. Ford , among the major manufacturers that topped forecasts, was supported by strong truck sales. September was the strongest month of this year for the auto companies. They benefitted as people replaced cars that were salvaged by recent hurricanes. This bump could persist for a few more months. Also, end-of-year incentives for buyers could boost sales in November and December. US auto sales rose more than expected in October, following the strongest month of 2017. Sales increased at a seasonally adjusted annual rate of 18.1 million, according to Autodata's estimate. Analysts had forecast an increase by 17.50 million in October, down 2% year-on-year, according to Bloomberg. Here's the scoreboard: Fiat Chrysler : -13% (-12% expected) Ford : 6.4% (1.4% expected) GM : -2.2% (-1.5% expected) Nissan : 8.4% (-5.7% expected) Toyota: 1.1% (4% expected) Honda: 0.9% (-2.2% expected) Volkswagen: 11.9% Mazda: -8.4% The two hurricanes that hit Texas and Florida salvaged many cars and created the need to replace them. This bump is likely to remain through the end of the year, adding 200,000-500,000 vehicle sales per month, according to Evercore ISI. Outside of this one-time boost, carmakers have benefitted from a shift in consumers' preference towards more profitable pickups and crossovers instead of cheaper sedans. Ford reported an 11% rise in truck sales, which helped offset a slowdown in cars. Carmakers could get a seasonal boost from year-end product launches and promotions around Black Friday, Christmas and the new year. NOW WATCH: $6 TRILLION INVESTMENT CHIEF: Bitcoin is a bubble See Also: This little-known Amazon service turns stuff you want to get rid of into store credit 'Psychologically scarred' millennials are killing countless industries from napkins to Applebee's — here are the businesses they like the least Bitcoin just hit an all-time high — here's how you buy and sell it SEE ALSO: The US auto market is about to surprise everybody \|\| Ford crushes October sales estimates amid truck boom (F, GM, FCAU, NSANY): REUTERS/Paulo Whitaker • US auto sales rose more than expected in October. • Ford, among the major manufacturers that topped forecasts, was supported by strong truck sales. • September was the strongest month of this year for the auto companies. They benefitted as people replaced cars that were salvaged by recent hurricanes. • This bump could persist for a few more months. Also, end-of-year incentives for buyers could boost sales in November and December. US auto sales rose more than expected in October, following the strongest month of 2017. Sales increased at a seasonally adjusted annual rate of 18.1 million, according to Autodata's estimate.Analysts had forecast an increase by 17.50 million in October, down 2% year-on-year, according to Bloomberg. Here's the scoreboard: • Fiat Chrysler:-13%(-12% expected) • Ford:6.4%(1.4% expected) • GM:-2.2%(-1.5% expected) • Nissan:8.4%(-5.7% expected) • Toyota:1.1%(4% expected) • Honda:0.9%(-2.2% expected) • Volkswagen:11.9% • Mazda:-8.4% The two hurricanes that hit Texas and Florida salvaged many cars and created the need to replace them. This bump is likely to remain through the end of the year, adding 200,000-500,000 vehicle sales per month, according to Evercore ISI. Outside of this one-time boost, carmakers have benefitted from a shift in consumers' preference towards more profitable pickups and crossovers instead of cheaper sedans. Ford reported an 11% rise in truck sales, which helped offset a slowdown in cars. Carmakers could get a seasonal boost from year-end product launches and promotions around Black Friday, Christmas and the new year. NOW WATCH:$6 TRILLION INVESTMENT CHIEF: Bitcoin is a bubble See Also: • This little-known Amazon service turns stuff you want to get rid of into store credit • 'Psychologically scarred' millennials are killing countless industries from napkins to Applebee's — here are the businesses they like the least • Bitcoin just hit an all-time high — here's how you buy and sell it SEE ALSO:The US auto market is about to surprise everybody \|\| Fitbit Inc (FIT) Posts Loss in Q3, Beats Analysts’ Expectations: Fitbit Inc (NYSE: FIT ) shares were heading lower as the company posted a loss for its third quarter of fiscal 2017. “We believe Fitbit Ionic delivers the best health and fitness experience in the category. It has received the highest customer ratings of any Fitbit product within the first month of sales, giving us confidence in our ability to capture share of the fast-growing smartwatch market.” Source: Fitbit As the company approaches the end of its fiscal year, Fitbit posted a non-GAAP net loss of a penny per share for the last quarter, amounting to a net loss of $113 million, or 48 cents per share. On an adjusted basis, Yahoo Finance analysts expected a loss of four cents per share for the company. One of the company’s strong point in the quarter is its Fitbit Ionic device, which is expected to be a hit. Fitbit also posted revenue of $393 million, which is a decline compared to the $504 million in revenue a year ago. InvestorPlace - Stock Market News, Stock Advice & Trading Tips Fitbit added that its health and fitness devices surged 7% in its third quarter compared to its second quarter, totaling 3.6 million sales of these products. “We continue to execute on our transition plan by delivering on our financial guidance and product roadmap, positioning Fitbit on a path back to growth and profitability,” CEO James Park said in the company’s quarterly report. “We believe Fitbit Ionic delivers the best health and fitness experience in the category,” he added. “It has received the highest customer ratings of any Fitbit product within the first month of sales, giving us confidence in our ability to capture share of the fast-growing smartwatch market.” FIT shares gained 1.7% during regular trading hours Wednesday but slipped 0.3% after the bell. More From InvestorPlace 5 Bitcoin Stocks to Buy for Low-Risk Cryptocurrency Profits 7 Stocks to Buy Before the Holidays How Much Money Do I Need to Retire? The post Fitbit Inc (FIT) Posts Loss in Q3, Beats Analysts’ Expectations appeared first on InvestorPlace . \|\| Fitbit Inc (FIT) Posts Loss in Q3, Beats Analysts’ Expectations: Fitbit Inc(NYSE:FIT) shares were heading lower as the company posted a loss for its third quarter of fiscal 2017. Source: Fitbit As the company approaches the end of its fiscal year, Fitbitposted a non-GAAP net lossof a penny per share for the last quarter, amounting to a net loss of $113 million, or 48 cents per share. On an adjusted basis,Yahoo Financeanalysts expected a loss of four cents per share for the company. One of the company’s strong point in the quarter is its Fitbit Ionic device, which is expected to be a hit. Fitbit also posted revenue of $393 million, which is a decline compared to the $504 million in revenue a year ago. InvestorPlace - Stock Market News, Stock Advice & Trading Tips Fitbit added that its health and fitness devices surged 7% in its third quarter compared to its second quarter, totaling 3.6 million sales of these products. “We continue to execute on our transition plan by delivering on our financial guidance and product roadmap, positioning Fitbit on a path back to growth and profitability,” CEO James Park said in the company’s quarterly report. “We believe Fitbit Ionic delivers the best health and fitness experience in the category,” he added. “It has received the highest customer ratings of any Fitbit product within the first month of sales, giving us confidence in our ability to capture share of the fast-growing smartwatch market.” FIT shares gained 1.7% during regular trading hours Wednesday but slipped 0.3% after the bell. • 5 Bitcoin Stocks to Buy for Low-Risk Cryptocurrency Profits • 7 Stocks to Buy Before the Holidays • How Much Money Do I Need to Retire? The postFitbit Inc (FIT) Posts Loss in Q3, Beats Analysts’ Expectationsappeared first onInvestorPlace. \|\| Stock market outlook, November 2: The news will not let up this week. On Thursday, earnings from Apple ( AAPL ), the worlds biggest company, and Starbucks (SBUX) will highlight the earnings calendar. While a lot of the markets focus is likely to be on the Federal Reserve, as President Donald Trump is expected to name Fed governor Jerome Powell to replace Janet Yellen as Chair of the central bank. The Wall Street Journal reported late Wednesday that Trump will announce Powell as Yellens replacement, putting the presidents pick in-line with where market consensus had coalesced in recent days. Markets should take a Powell announcement largely in stride, keeping financial conditions easy and providing little disruption to an economy that is experiencing solid growth, said Peter Hooper, an economist at Deutsche Bank. Federal Reserve governor Jerome Powell is slated to be named the successor to Janet Yellen as Chair of the central bank by President Donald Trump on Thursday. In addition, Powell has now had five years experience working inside the Fed, by all reports very effectively on both macroeconomics/monetary policy and on regulatory policy. He seems well versed in both important spheres of Fed responsibility. Tom Porcelli, chief U.S. economist at RBC Capital Markets, said last week that Powell, would be a natural extension of Yellen at a point where policy is not screaming for a wildly different policy approach. Futures were little-changed on Wednesday night after headlines crossed that Powell would in fact be Trumps pick. On the earnings side, Apple earnings are always a big event, with Wall Street analysts expecting the company will report earnings per share of $1.87 on revenue of $50.5 billion. iPhone unit sales are expected to total 46.1 million with an average selling price of $633. According to data from Bloomberg, Apple shares are expected to move 4.8% after earnings according to options pricing, and the stock has moved higher after six of its last 12 earnings announcements. Shares of Apple are up 44% year-to-date. Apple CEO Tim Cook speaks at The Bloomberg Global Business Forum in New York, U.S., September 20, 2017. REUTERS/Brendan Mcdermid Elsewhere on the earnings calendar, results are expected from Yum Brands ( YUM ), ADP ( ADP ), Western Union ( WU ), Ralph Lauren ( RL ), CBS ( CBS ), AIG ( AIG ), and Cigna ( CI ). Story continues Investors will also be tracking shares of Facebook ( FB ), which were trading at a record high after hours on Wednesday despite CEO Mark Zuckerberg saying in the companys earnings release that, Were investing so much in security that it will impact our profitability. Protecting our community is more important than maximizing our profits. Also on the docket for Thursday is an expected announcement from House Republicans of a draft outline of their tax bill. Reports Wednesday said Trump wants to call the bill the Cut, Cut, Cut Act, while Politico reported that tensions among GOP lawmakers were very high as of late Wednesday afternoon, notably among Republican representative from Democratic states. Myles Udland is a writer at Yahoo Finance. Follow him on Twitter @MylesUdland Read more from Myles here: Its been 17 years since U.S. consumers felt this good about the economy TOM LEE: Bitcoin is an important asset for investors to own Wall Street cant stop talking about Bitcoin Why a new Federal Reserve chair wont rattle markets Warren Buffett likes the stock market because of the bond market Americas shortage of workers is about to get much worse \|\| Apple, Starbucks, and Powell — What you need to know on Thursday: The news will not let up this week. On Thursday, earnings from Apple (AAPL), the world’s biggest company, and Starbucks (SBUX) will highlight the earnings calendar. While a lot of the market’s focus is likely to be on the Federal Reserve, as President Donald Trump is expected to name Fed governor Jerome Powell to replace Janet Yellen as Chair of the central bank. The Wall Street Journalreported late Wednesdaythat Trump will announce Powell as Yellen’s replacement, putting the president’s pick in-line with where market consensus had coalesced in recent days. “Markets should take a Powell announcement largely in stride, keeping financial conditions easy and providing little disruption to an economy that is experiencing solid growth,” said Peter Hooper, an economist at Deutsche Bank. “In addition, Powell has now had five years experience working inside the Fed, by all reports very effectively on both macroeconomics/monetary policy and on regulatory policy. He seems well versed in both important spheres of Fed responsibility.” Tom Porcelli, chief U.S. economist at RBC Capital Markets, said last week that Powell, “would be a natural extension of Yellen at a point where policy is not screaming for a wildly different policy approach.” Futures were little-changed on Wednesday night after headlines crossed that Powell would in fact be Trump’s pick. On the earnings side, Apple earnings are always a big event, with Wall Street analysts expecting the company will report earnings per share of $1.87 on revenue of $50.5 billion. iPhone unit sales are expected to total 46.1 million with an average selling price of $633. According to data from Bloomberg, Apple shares are expected to move 4.8% after earnings according to options pricing, and the stock has moved higher after six of its last 12 earnings announcements. Shares of Apple are up 44% year-to-date. Elsewhere on the earnings calendar, results are expected from Yum Brands (YUM), ADP (ADP), Western Union (WU), Ralph Lauren (RL), CBS (CBS), AIG (AIG), and Cigna (CI). Investors will also be tracking shares of Facebook (FB), which were trading at a record high after hours on Wednesday despite CEO Mark Zuckerberg saying in thecompany’s earnings releasethat, “We’re investing so much in security that it will impact our profitability. Protecting our community is more important than maximizing our profits.” Also on the docket for Thursday is an expected announcement from House Republicans of a draft outline of their tax bill.Reports Wednesday saidTrump wants to call the bill the “Cut, Cut, Cut Act,” whilePolitico reportedthat tensions among GOP lawmakers were “very high” as of late Wednesday afternoon, notably among Republican representative from Democratic states. — Myles Udland is a writer at Yahoo Finance. Follow him on Twitter@MylesUdland Read more from Myles here: • It’s been 17 years since U.S. consumers felt this good about the economy • TOM LEE: Bitcoin is an important asset for investors to own • Wall Street can’t stop talking about Bitcoin • Why a new Federal Reserve chair won’t rattle markets • Warren Buffett likes the stock market because of the bond market • America’s shortage of workers is about to get ‘much worse’ \|\| GoPro Inc (GPRO) Reverses Losing Trend in Q3: GoPro Inc (NASDAQ: GPRO ) unveiled its latest quarterly earnings results late in the day Wednesday. GoPro Inc (GPRO) Source: GoPro After the close of the bell, the handy camera manufacturer posted third-quarter earnings of $15 million, or 10 cents per share. In the year-ago quarter, GoPro lost $104 million, or 74 cents per share. On an adjusted basis, the company earned 15 cents per share while Wall Street was calling for a consensus estimate of two cents per share. Revenue was also better, rising 37% to $330 million, while also beating analysts projection of $313.1 million. InvestorPlace - Stock Market News, Stock Advice & Trading Tips GoPro has turned a corner, restoring growth and profitability to our business, said founder and CEO Nick Woodman in a statement. The company had previously posted losses for seven consecutive quarters. GoPros outlook for the current period left something to be desired as it expects adjusted earnings in the range of 37 cents to 47 cents per share, well below the consensus estimate of 56 cents per share. For the full-year profit, the company sees earnings a two-cent loss per share to a profit of eight cents per share. We are now focused on driving consumer demand to reach our goal of full-year double-digit revenue growth and non-GAAP profitability, said Woodman. The company has been churning out new products, including a drone that will set consumers back $1,000. GoPro also plans to expand its selection of cameras, including the HERO6 camera and Fusion, which is its first spherical camera. The latter product will be available starting in November. GPRO shares were sinking 9.7% after the bell Wednesday. More From InvestorPlace 5 Bitcoin Stocks to Buy for Low-Risk Cryptocurrency Profits 7 Stocks to Buy Before the Holidays How Much Money Do I Need to Retire? The post GoPro Inc (GPRO) Reverses Losing Trend in Q3 appeared first on InvestorPlace . \|\| GoPro Inc (GPRO) Reverses Losing Trend in Q3: GoPro Inc(NASDAQ:GPRO) unveiled its latest quarterly earnings results late in the day Wednesday. Source: GoPro After the close of the bell, the handy camera manufacturerposted third-quarter earningsof $15 million, or 10 cents per share. In the year-ago quarter, GoPro lost $104 million, or 74 cents per share. On an adjusted basis, the company earned 15 cents per share while Wall Street was calling for a consensus estimate of two cents per share. Revenue was also better, rising 37% to $330 million, while also beating analysts’ projection of $313.1 million. InvestorPlace - Stock Market News, Stock Advice & Trading Tips “GoPro has turned a corner, restoring growth and profitability to our business,” said founder and CEO Nick Woodman in a statement. The company had previously posted losses for seven consecutive quarters. GoPro’s outlook for the current period left something to be desired as it expects adjusted earnings in the range of 37 cents to 47 cents per share, well below the consensus estimate of 56 cents per share. For the full-year profit, the company sees earnings a two-cent loss per share to a profit of eight cents per share. “We are now focused on driving consumer demand to reach our goal of full-year double-digit revenue growth and non-GAAP profitability,” said Woodman. The company has been churning out new products, including a drone that will set consumers back $1,000. GoPro also plans to expand its selection of cameras, including the HERO6 camera and Fusion, which is its first spherical camera. The latter product will be available starting in November. GPRO shares were sinking 9.7% after the bell Wednesday. • 5 Bitcoin Stocks to Buy for Low-Risk Cryptocurrency Profits • 7 Stocks to Buy Before the Holidays • How Much Money Do I Need to Retire? The postGoPro Inc (GPRO) Reverses Losing Trend in Q3appeared first onInvestorPlace. \|\| Tesla Inc (TSLA) Slashes Production of Two Cars, Misses Q3 Estimates: Tesla Inc (NASDAQ: TSLA ) unveiled its quarterly results Wednesday, posting a loss that was wider than any previous quarter in the companys history. Tesla Inc (TSLA) Source: Tesla The company has been having trouble keeping up with the demand for its electric vehicles, prompting it to cut production of two vehicles. One such car is the Model X and the other is the Model S. All in all, Tesla will reduce the production of these cars by 10% in the fourth quarter in order to reallocate these resources into improving its Model 3. For the first quarter of fiscal 2018, the company plans on producing 5,000 Model 3 vehicles per week. InvestorPlace - Stock Market News, Stock Advice & Trading Tips As far as the companys earnings are concerned, Tesla posted an adjusted loss per share of $2.92 per share, significantly wider than the loss of $2.23 per share that Wall Street predicted. Revenue was a stronger point for the automotive company, coming in at $2.98 billion, ahead of the $2.39 billion that analysts called for. Teslas free cash flow fell to -$1.4 billion versus the -$1.2 billion projected by analysts. While we continue to make significant progress each week in fixing Model 3 bottlenecks, the nature of manufacturing challenges during a ramp such as this makes it difficult to predict exactly how long it will take for all bottlenecks to be cleared or when new ones will appear, Tesla said in a statement . TSLA shares fell 3.8% after the bell Wednesday. More From InvestorPlace 5 Bitcoin Stocks to Buy for Low-Risk Cryptocurrency Profits 7 Stocks to Buy Before the Holidays How Much Money Do I Need to Retire? The post Tesla Inc (TSLA) Slashes Production of Two Cars, Misses Q3 Estimates appeared first on InvestorPlace . \|\| Tesla Inc (TSLA) Slashes Production of Two Cars, Misses Q3 Estimates: Tesla Inc(NASDAQ:TSLA) unveiled its quarterly results Wednesday, posting a loss that was wider than any previous quarter in the company’s history. Source: Tesla The companyhas been having troublekeeping up with the demand for its electric vehicles, prompting it to cut production of two vehicles. One such car is the Model X and the other is the Model S. All in all, Tesla will reduce the production of these cars by 10% in the fourth quarter in order to reallocate these resources into improving its Model 3. For the first quarter of fiscal 2018, the company plans on producing 5,000 Model 3 vehicles per week. InvestorPlace - Stock Market News, Stock Advice & Trading Tips As far as the company’s earnings are concerned, Tesla posted an adjusted loss per share of $2.92 per share, significantly wider than the loss of $2.23 per share that Wall Street predicted. Revenue was a stronger point for the automotive company, coming in at $2.98 billion, ahead of the $2.39 billion that analysts called for. Tesla’s free cash flow fell to -$1.4 billion versus the -$1.2 billion projected by analysts. “While we continue to make significant progress each week in fixing Model 3 bottlenecks, the nature of manufacturing challenges during a ramp such as this makes it difficult to predict exactly how long it will take for all bottlenecks to be cleared or when new ones will appear,” Tesla said in astatement. TSLA shares fell 3.8% after the bell Wednesday. • 5 Bitcoin Stocks to Buy for Low-Risk Cryptocurrency Profits • 7 Stocks to Buy Before the Holidays • How Much Money Do I Need to Retire? The postTesla Inc (TSLA) Slashes Production of Two Cars, Misses Q3 Estimatesappeared first onInvestorPlace. \|\| Facebook Inc (FB) Continues Streak of Shattering Earnings Expectations: Facebook Inc (NASDAQ: FB ) had a strong third quarter that sent shares surging after the bell. Facebook Inc (FB) Source: Facebook The company has been on a roll in recent quarters as it has continued to top analysts’ projections by a wide margin . Facebook amassed more users in the most recent quarter, now serving 2.06 billion monthly active users, marking a 3.19% increase compared to last period’s 2.006 billion and a 3.4% growth rate. The social media site’s daily active users has reached 1.37 billion , a 3.8% increase quarter-over-quarter when it had 1.32 billion. Facebook’s revenue came in at $10.33 billion, marking a 47% rise year-over-year, while also topping the Wall Street consensus estimate of $9.84 billion. InvestorPlace - Stock Market News, Stock Advice & Trading Tips Earnings came in at $1.59 per share, more than 30 cents ahead of analysts’ projections of $1.28 per share, and a 77% increase compared to the year-ago period. Facebook CEO said that its impressive growth will slow down soon. He added that the company has been investing plenty into security that will improve the site in the future. “Protecting our community is more important than maximizing our profits,” he said. Part of the reason why Facebook has been fighting to improve its security is due to the scrutiny the site received for failing to adequately combat and take down fake news. One such case is the U.S. election and Russia’s involvement in it with false stats and information designed to boost President Trump’s popularity. FB stock gained 1% after hours. More From InvestorPlace 5 Bitcoin Stocks to Buy for Low-Risk Cryptocurrency Profits 7 Stocks to Buy Before the Holidays How Much Money Do I Need to Retire? The post Facebook Inc (FB) Continues Streak of Shattering Earnings Expectations appeared first on InvestorPlace . \|\| Facebook Inc (FB) Continues Streak of Shattering Earnings Expectations: Facebook Inc(NASDAQ:FB) had a strong third quarter that sent shares surging after the bell. Source: Facebook The company has been on a roll in recent quarters as it has continued to top analysts’ projectionsby a wide margin. Facebook amassed more users in the most recent quarter, now serving 2.06 billion monthly active users, marking a 3.19% increase compared to last period’s 2.006 billion and a 3.4% growth rate. The social media site’s daily active users hasreached 1.37 billion, a 3.8% increase quarter-over-quarter when it had 1.32 billion. Facebook’s revenue came in at $10.33 billion, marking a 47% rise year-over-year, while also topping the Wall Street consensus estimate of $9.84 billion. InvestorPlace - Stock Market News, Stock Advice & Trading Tips Earnings came in at $1.59 per share, more than 30 cents ahead of analysts’ projections of $1.28 per share, and a 77% increase compared to the year-ago period. Facebook CEO said that its impressive growth will slow down soon. He added that the company has been investing plenty into security that will improve the site in the future. “Protecting our community is more important than maximizing our profits,” he said. Part of the reason why Facebook has been fighting to improve its security is due to the scrutiny the site received for failing to adequately combat and take down fake news. One such case is the U.S. election and Russia’s involvement in it with false stats and information designed to boost President Trump’s popularity. FB stock gained 1% after hours. • 5 Bitcoin Stocks to Buy for Low-Risk Cryptocurrency Profits • 7 Stocks to Buy Before the Holidays • How Much Money Do I Need to Retire? The postFacebook Inc (FB) Continues Streak of Shattering Earnings Expectationsappeared first onInvestorPlace. \|\| Celebrity endorsements of new coin sales may be illegal, SEC says: Floyd Mayweather's and DJ Khaled's endorsements of new digital coin sales may be illegal if the celebrities do not disclose how they are benefiting, the Securities and Exchange Commission said. "Celebrities and others are using social media networks to encourage the public to purchase stocks and other investments," the commission said. "These endorsements may be unlawful if they do not disclose the nature, source, and amount of any compensation paid, directly or indirectly, by the company in exchange for the endorsement." The warning comes after The New York Times published Friday a detailed expose of celebrity endorsements of token sales and the lack of clarity around the projects, which can often raise tens of millions or even hundreds of millions of dollars. Mayweather, a boxer, has promoted three tokens, while rapper DJ Khaled, Paris Hilton and soccer player Luis Suarez have all endorsed new coin sales, the Times said.Initial coin offerings have taken off over the last 18 months and have raised more than $3 billion in total, according to financial research firm Autonomous Next. As digital currencies bitcoin (Exchange: BTC=) and ethereum (Exchange: ETH=) have soared in value this year, a flurry of new projects have launched based on the same blockchain technology and have sold their own digital coins as a way to raise funds for the development. Some of the coins will become a way for users to interact with the completed project, and developers say the token sale process allows them to raise funds more quickly than more traditional routes like venture capital. However, many of the projects barely exist beyond an online whitepaper and a small team of developers.Some token sales have preemptively barred U.S. residents from officially participating for fear of retaliation from U.S. regulators.The SEC this summer signaled securities laws may apply to digital coins, and issued an investor bulletin about the risks of investing in the coin sales.WATCH: Bitcoin futures may help the case for a bitcoin ETF Floyd Mayweather's and DJ Khaled's endorsements of new digital coin sales may be illegal if the celebrities do not disclose how they are benefiting, the Securities and Exchange Commission said. "Celebrities and others are using social media networks to encourage the public to purchase stocks and other investments," the commission said. "These endorsements may be unlawful if they do not disclose the nature, source, and amount of any compensation paid, directly or indirectly, by the company in exchange for the endorsement." The warning comes after The New York Times published Friday a detailed expose of celebrity endorsements of token sales and the lack of clarity around the projects, which can often raise tens of millions or even hundreds of millions of dollars. Mayweather, a boxer, has promoted three tokens, while rapper DJ Khaled, Paris Hilton and soccer player Luis Suarez have all endorsed new coin sales, the Times said. Initial coin offerings have taken off over the last 18 months and have raised more than $3 billion in total, according to financial research firm Autonomous Next. As digital currencies bitcoin (Exchange: BTC=) and ethereum (Exchange: ETH=) have soared in value this year, a flurry of new projects have launched based on the same blockchain technology and have sold their own digital coins as a way to raise funds for the development. Some of the coins will become a way for users to interact with the completed project, and developers say the token sale process allows them to raise funds more quickly than more traditional routes like venture capital. However, many of the projects barely exist beyond an online whitepaper and a small team of developers. Some token sales have preemptively barred U.S. residents from officially participating for fear of retaliation from U.S. regulators. The SEC this summer signaled securities laws may apply to digital coins, and issued an investor bulletin about the risks of investing in the coin sales. WATCH: Bitcoin futures may help the case for a bitcoin ETF More From CNBC After-hours buzz: FB, TSLA, GPRO & more Why Powell is the 'boring' choice but best for stock market Market shrugs off Fed's 'bland' comments on economy as it awaits Yellen replacement \|\| Celebrity endorsements of new coin sales may be illegal, SEC says: Floyd Mayweather's and DJ Khaled's endorsements of new digital coin sales may be illegal if the celebrities do not disclose how they are benefiting, the Securities and Exchange Commission said. "Celebrities and others are using social media networks to encourage the public to purchase stocks and other investments," the commission said. "These endorsements may be unlawful if they do not disclose the nature, source, and amount of any compensation paid, directly or indirectly, by the company in exchange for the endorsement." The warning comes after The New York Times published Friday a detailed expose of celebrity endorsements of token sales and the lack of clarity around the projects, which can often raise tens of millions or even hundreds of millions of dollars. Mayweather, a boxer, has promoted three tokens, while rapper DJ Khaled, Paris Hilton and soccer player Luis Suarez have all endorsed new coin sales, the Times said.Initial coin offerings have taken off over the last 18 months and have raised more than $3 billion in total, according to financial research firm Autonomous Next. As digital currencies bitcoin (Exchange: BTC=) and ethereum (Exchange: ETH=) have soared in value this year, a flurry of new projects have launched based on the same blockchain technology and have sold their own digital coins as a way to raise funds for the development. Some of the coins will become a way for users to interact with the completed project, and developers say the token sale process allows them to raise funds more quickly than more traditional routes like venture capital. However, many of the projects barely exist beyond an online whitepaper and a small team of developers.Some token sales have preemptively barred U.S. residents from officially participating for fear of retaliation from U.S. regulators.The SEC this summer signaled securities laws may apply to digital coins, and issued an investor bulletin about the risks of investing in the coin sales.WATCH: Bitcoin futures may help the case for a bitcoin ETF Floyd Mayweather's and DJ Khaled's endorsements of new digital coin sales may be illegal if the celebrities do not disclose how they are benefiting, the Securities and Exchange Commission said. "Celebrities and others are using social media networks to encourage the public to purchase stocks and other investments," the commission said. "These endorsements may be unlawful if they do not disclose the nature, source, and amount of any compensation paid, directly or indirectly, by the company in exchange for the endorsement." The warning comes after The New York Times published Friday a detailed expose of celebrity endorsements of token sales and the lack of clarity around the projects, which can often raise tens of millions or even hundreds of millions of dollars. Mayweather, a boxer, has promoted three tokens, while rapper DJ Khaled, Paris Hilton and soccer player Luis Suarez have all endorsed new coin sales, the Times said. Initial coin offerings have taken off over the last 18 months and have raised more than $3 billion in total, according to financial research firm Autonomous Next. As digital currencies bitcoin (Exchange: BTC=) and ethereum (Exchange: ETH=) have soared in value this year, a flurry of new projects have launched based on the same blockchain technology and have sold their own digital coins as a way to raise funds for the development. Some of the coins will become a way for users to interact with the completed project, and developers say the token sale process allows them to raise funds more quickly than more traditional routes like venture capital. However, many of the projects barely exist beyond an online whitepaper and a small team of developers. Some token sales have preemptively barred U.S. residents from officially participating for fear of retaliation from U.S. regulators. The SEC this summer signaled securities laws may apply to digital coins, and issued an investor bulletin about the risks of investing in the coin sales. WATCH: Bitcoin futures may help the case for a bitcoin ETF More From CNBC After-hours buzz: FB, TSLA, GPRO & more Why Powell is the 'boring' choice but best for stock market Market shrugs off Fed's 'bland' comments on economy as it awaits Yellen replacement \|\| Tesla posts big loss, cuts Model X and Model S production to catch up on Model 3 (TSLA): Tesla Model X factory YouTube/iPhone-Fan Tesla on Wednesday reported a wider-than-expected quarterly loss, the largest in its history. In its third-quarter earnings report, the company said it would cut production of its Model S and Model X vehicles to redeploy resources toward the Model 3. In October, CEO Elon Musk described the newest vehicle as being "deep in production hell." Tesla's negative free cash flow swelled to $1.4 billion, more than analysts had expected. Tesla on Wednesday reported the largest quarterly loss in its history and said it was cutting production on two of its vehicle models. Here are the key third-quarter numbers (expectations via Bloomberg): Adjusted loss per share: -$2.92 (-$2.23 expected). Revenue: $2.98 billion ($2.39 billion expected). Free cash flow: - $1.4 billion (-$1.2 billion expected). The company said it planned to produce "about 10% fewer" units of its Model S and Model X models in the fourth quarter and reallocate resources to the Model 3, its newest. Tesla expects to hit a Model 3 production rate of 5,000 vehicles a week by late in the first quarter of 2018. "While we continue to make significant progress each week in fixing Model 3 bottlenecks, the nature of manufacturing challenges during a ramp such as this makes it difficult to predict exactly how long it will take for all bottlenecks to be cleared or when new ones will appear," Tesla said in its statement . Tesla said in October that it produced only 260 vehicles, well below its target of 1,500. CEO Elon Musk said the Model 3 was "deep in production hell." Tesla's negative free cash flow expanded to -$1.4 billion, more than analysts' forecast of -$1.2 billion. The company said it was working with organizations in Puerto Rico to provide solar panels following the devastation left by Hurricane Maria in late September. Installations of its energy-storage units rose 138% year over year in the third quarter, driven by the Powerwall, its at-home battery. Story continues Tesla shares fell as much as 5% in extended trading after the earnings release. Tesla has surged 51% this year through Wednesday's close, and its market cap at various points has surpassed those of rivals including Ford , Fiat Chrysler , and General Motors . NOW WATCH: $6 TRILLION INVESTMENT CHIEF: Bitcoin is a bubble See Also: Under Armour slashes its forecast for the rest of the year Traders were blindsided by Celgene's massive earnings flop Ford beats on earnings, raises the lower end of its forecast SEE ALSO: Here are the most important things to look for in Tesla's third-quarter earnings \|\| Tesla posts big loss, cuts Model X and Model S production to catch up on Model 3 (TSLA): YouTube/iPhone-Fan • Tesla on Wednesday reported a wider-than-expected quarterly loss, the largest in its history. • In its third-quarter earnings report, the company said it would cut production of its Model S and Model X vehicles to redeploy resources toward the Model 3. In October, CEO Elon Musk described the newest vehicle as being "deep in production hell." • Tesla's negative free cash flow swelled to $1.4 billion, more than analysts had expected. Teslaon Wednesday reported the largest quarterly loss in its history and said it was cutting production on two of its vehicle models. Here are the key third-quarter numbers (expectations via Bloomberg): • Adjusted loss per share:-$2.92(-$2.23 expected). • Revenue:$2.98 billion($2.39 billion expected). • Free cash flow: -$1.4 billion(-$1.2 billion expected). The company said it planned to produce "about 10% fewer" units of its Model S and Model X models in the fourth quarter and reallocate resources to the Model 3, its newest. Tesla expects to hit a Model 3 production rate of 5,000 vehicles a week by late in the first quarter of 2018. "While we continue to make significant progress each week in fixing Model 3 bottlenecks, the nature of manufacturing challenges during a ramp such as this makes it difficult to predict exactly how long it will take for all bottlenecks to be cleared or when new ones will appear," Tesla said in itsstatement. Tesla said in October that it produced only 260 vehicles, well below its target of 1,500. CEO Elon Musk said the Model 3 was "deep in production hell." Tesla's negative free cash flow expanded to -$1.4 billion, more than analysts' forecast of -$1.2 billion. The company said it was working with organizations in Puerto Rico to provide solar panels following the devastation left by Hurricane Maria in late September. Installations of its energy-storage units rose 138% year over year in the third quarter, driven by the Powerwall, its at-home battery. Tesla shares fell as much as 5% in extended trading after the earnings release. Tesla has surged 51% this year through Wednesday's close, and its market cap at various points has surpassed those of rivals includingFord,Fiat Chrysler, andGeneral Motors. NOW WATCH:$6 TRILLION INVESTMENT CHIEF: Bitcoin is a bubble See Also: • Under Armour slashes its forecast for the rest of the year • Traders were blindsided by Celgene's massive earnings flop • Ford beats on earnings, raises the lower end of its forecast SEE ALSO:Here are the most important things to look for in Tesla's third-quarter earnings \|\| Cryptocurrencies reach record $185 billion in market value after bitcoin surge: The market capitalization of all cryptocurrencies soared to a record high Wednesday, on the back of a jump in the price of bitcoin (Exchange: BTC=) . The total value of the digital currencies topped $185 billion for the first time at around midday ET, according to data from industry website Coinmarketcap.Bitcoin, the world's largest cryptocurrency, shot above $6,600 earlier in the session, mere hours after breaking through the $6,400 mark. The market cap of bitcoin alone is currently more than $109 billion. The price of the virtual currency made fresh gains after derivatives titan CME Group (NASDAQ: CME) said it would introduce bitcoin futures at theend of the year . CME said its bitcoin futures contract would be cash-settled and based on the CME CF Bitcoin Reference Rate (BRR), launched in November last year with London-based online trading platform Crypto Facilities.Cryptocurrencies have received their fair share of criticism from a number of economists, regulators and banking executives this year. Last month, Harvard economist Kenneth Rogoff predicted the price of bitcoin would likely "collapse" as it faced continued pressure from governments. Rogoff's comments followed China's decision to ban domestic bitcoin exchanges, a move which saw the currency dip significantly , only to soon make a recovery. And JPMorgan CEO Jamie Dimon notoriously referred to bitcoin as a "fraud" that will eventually "blow up". The market capitalization of all cryptocurrencies soared to a record high Wednesday, on the back of a jump in the price of bitcoin (Exchange: BTC=) . The total value of the digital currencies topped $185 billion for the first time at around midday ET, according to data from industry website Coinmarketcap. Bitcoin, the world's largest cryptocurrency, shot above $6,600 earlier in the session, mere hours after breaking through the $6,400 mark. The market cap of bitcoin alone is currently more than $109 billion. The price of the virtual currency made fresh gains after derivatives titan CME Group (NASDAQ: CME) said it would introduce bitcoin futures at the end of the year . CME said its bitcoin futures contract would be cash-settled and based on the CME CF Bitcoin Reference Rate (BRR), launched in November last year with London-based online trading platform Crypto Facilities. Cryptocurrencies have received their fair share of criticism from a number of economists, regulators and banking executives this year. Last month, Harvard economist Kenneth Rogoff predicted the price of bitcoin would likely "collapse" as it faced continued pressure from governments. Rogoff's comments followed China's decision to ban domestic bitcoin exchanges, a move which saw the currency dip significantly , only to soon make a recovery. And JPMorgan CEO Jamie Dimon notoriously referred to bitcoin as a "fraud" that will eventually "blow up". More From CNBC This UK fintech is taking on big banks with business loans — and one key EU law is driving it Central bank-issued digital currency is the future, not cryptocurrency, economist says This start-up allows Chinese investors to pour cash into US tech firms before they go public \|\| Cryptocurrencies reach record $185 billion in market value after bitcoin surge: The market capitalization of all cryptocurrencies soared to a record high Wednesday, on the back of a jump in the price of bitcoin (Exchange: BTC=) . The total value of the digital currencies topped $185 billion for the first time at around midday ET, according to data from industry website Coinmarketcap.Bitcoin, the world's largest cryptocurrency, shot above $6,600 earlier in the session, mere hours after breaking through the $6,400 mark. The market cap of bitcoin alone is currently more than $109 billion. The price of the virtual currency made fresh gains after derivatives titan CME Group (NASDAQ: CME) said it would introduce bitcoin futures at theend of the year . CME said its bitcoin futures contract would be cash-settled and based on the CME CF Bitcoin Reference Rate (BRR), launched in November last year with London-based online trading platform Crypto Facilities.Cryptocurrencies have received their fair share of criticism from a number of economists, regulators and banking executives this year. Last month, Harvard economist Kenneth Rogoff predicted the price of bitcoin would likely "collapse" as it faced continued pressure from governments. Rogoff's comments followed China's decision to ban domestic bitcoin exchanges, a move which saw the currency dip significantly , only to soon make a recovery. And JPMorgan CEO Jamie Dimon notoriously referred to bitcoin as a "fraud" that will eventually "blow up". The market capitalization of all cryptocurrencies soared to a record high Wednesday, on the back of a jump in the price of bitcoin (Exchange: BTC=) . The total value of the digital currencies topped $185 billion for the first time at around midday ET, according to data from industry website Coinmarketcap. Bitcoin, the world's largest cryptocurrency, shot above $6,600 earlier in the session, mere hours after breaking through the $6,400 mark. The market cap of bitcoin alone is currently more than $109 billion. The price of the virtual currency made fresh gains after derivatives titan CME Group (NASDAQ: CME) said it would introduce bitcoin futures at the end of the year . CME said its bitcoin futures contract would be cash-settled and based on the CME CF Bitcoin Reference Rate (BRR), launched in November last year with London-based online trading platform Crypto Facilities. Cryptocurrencies have received their fair share of criticism from a number of economists, regulators and banking executives this year. Last month, Harvard economist Kenneth Rogoff predicted the price of bitcoin would likely "collapse" as it faced continued pressure from governments. Rogoff's comments followed China's decision to ban domestic bitcoin exchanges, a move which saw the currency dip significantly , only to soon make a recovery. And JPMorgan CEO Jamie Dimon notoriously referred to bitcoin as a "fraud" that will eventually "blow up".More From CNBC • This UK fintech is taking on big banks with business loans — and one key EU law is driving it • Central bank-issued digital currency is the future, not cryptocurrency, economist says • This start-up allows Chinese investors to pour cash into US tech firms before they go public \|\| Robinhood, a stock trading app built for millennials, is growing up: Robinhood stock trading app Robinhood Robinhood, the San Francisco-based brokerage famous for offering commission-free stock trading, has unveiled a new web platform on which users will be able to buy and sell stocks and utilize a suite of new investor tools. The company has amassed more than 3 million users, adding new accounts at a faster rate than ever before. Robinhood, the brokerage known for its sleek mobile app for zero commission stock trading, is unveiling a web platform. The new web platform looks more like an ecommerce site, where users can comparison shop, cofounder Baiju Bhatt told Business Insider. Users can check, for instance, Apple's stock and see how many people on Robinhood own it, what analysts think about the stock, as well as more technical information like earnings. "We want to be comically, obsessively focused on what our costumers want in everything that we do," Bhatt said. "When people are buying stocks, they are comparison shopping and they want an experience that's built for that." Capture.PNG Robinhood As such, they built it to replicate the comparison shopping experience on Amazon. "We wanted to avoid information overload with way too much stuff going on," Bhatt said."That's the problem with all the other brokerages." The company is catching up to its legacy rivals, reaching more than 3 million users. Etrade, by comparison, has 3.3 million users. Bhatt declined to comment on profitability of the company. In August, Bhatt told Business Insider the company would continue to roll out new features to meet the need of its users, who skew younger, to meet their needs as they mature as investors. Here's Bhatt: In time, as our users become more and more sophisticated, we will continue to add features that match them. But we hope to never lose sight of those first timers as well. Fundamentally, that should be the most important thing for financial-services companies. Making the entire industry something that serves the broader market, not just the people who make them a lot of money. Story continues He told Business Insider there are more features in the works. NOW WATCH: TOP STRATEGIST: Bitcoin will soar to $25,000 in 5 years See Also: Maverick Capital, a $10.5 billion hedge fund, told clients it may have 'cracked the code' The richest families in America are pouring money into healthcare startups The largest options exchange in the US is moving in on a $1.6 billion bitcoin opportunity SEE ALSO: The cofounder of $1.3 billion startup Robinhood explains a 'logical fallacy' in investing \|\| Robinhood, a stock trading app built for millennials, is growing up: Robinhood • Robinhood, the San Francisco-based brokerage famous for offering commission-free stock trading, has unveiled a new web platform on which users will be able to buy and sell stocks and utilize a suite of new investor tools. • The company has amassed more than 3 million users, adding new accounts at a faster rate than ever before. Robinhood, the brokerage known for its sleek mobile app for zero commission stock trading, is unveiling a web platform. The new web platform looks more like an ecommerce site, where users can comparison shop, cofounder Baiju Bhatt told Business Insider. Users can check, for instance, Apple's stock and see how many people on Robinhood own it, what analysts think about the stock, as well as more technical information like earnings. "We want to be comically, obsessively focused on what our costumers want in everything that we do," Bhatt said. "When people are buying stocks, they are comparison shopping and they want an experience that's built for that." RobinhoodAs such, they built it to replicate the comparison shopping experience on Amazon. "We wanted to avoid information overload with way too much stuff going on," Bhatt said."That's the problem with all the other brokerages." The company is catching up to its legacy rivals, reaching more than 3 million users. Etrade, by comparison, has 3.3 million users. Bhatt declined to comment on profitability of the company. In August, Bhatt told Business Insider the company would continue to roll out new features to meet the need of its users, who skew younger, to meet their needs as they mature as investors. Here's Bhatt: In time, as our users become more and more sophisticated, we will continue to add features that match them. But we hope to never lose sight of those first timers as well. Fundamentally, that should be the most important thing for financial-services companies. Making the entire industry something that serves the broader market, not just the people who make them a lot of money. He told Business Insider there are more features in the works. NOW WATCH:TOP STRATEGIST: Bitcoin will soar to $25,000 in 5 years See Also: • Maverick Capital, a $10.5 billion hedge fund, told clients it may have 'cracked the code' • The richest families in America are pouring money into healthcare startups • The largest options exchange in the US is moving in on a $1.6 billion bitcoin opportunity SEE ALSO:The cofounder of $1.3 billion startup Robinhood explains a 'logical fallacy' in investing [Social Media Buzz] 11/03 09:00現在 #Bitcoin : 808,515円↑ #NEM #XEM : 19.0889円↑ #Monacoin : 308.9円↓ #Ethereum : 32,530円→ #Zaif : 0.37円↑ \|\| 11/03 00:00 Crypto currency sentiment analysis. BTC : Positive BCC : Neutral ETH : Positive ETC : Positive https://goo.gl/5hp6Cz #BTC \|\| Bitcoin 's price passed $7K soon after 10:00 UTC, & has reached a record high of $7,034.14… https://www.instagram.com/p/BbAl1tkAh4t/ \|\| In the last 10 mins, there were arb opps spanning 11 exchange pair(s), yielding profits ranging between $0.0...	7207.76, 7379.95, 7407.41, 7022.76, 7144.38, 7459.69, 7143.58, 6618.14, 6357.60, 5950.07
Given the historical Bitcoin prices from the last 90 days, predict the next 10 daily closing prices. The historical prices are: 6635.75, 7315.54, 7871.69, 7708.99, 7790.15, 8036.49, 8200.64, 8071.26, 8253.55, 8038.77, 8253.69, 8790.92, 9330.55, 9818.35, 10058.80, 9888.61, 10233.60, 10975.60, 11074.60, 11323.20, 11657.20, 11916.70, 14291.50, 17899.70, 16569.40, 15178.20, 15455.40, 16936.80, 17415.40, 16408.20, 16564.00, 17706.90, 19497.40, 19140.80, 19114.20, 17776.70, 16624.60, 15802.90, 13831.80, 14699.20, 13925.80, 14026.60, 16099.80, 15838.50, 14606.50, 14656.20, 12952.20, 14156.40, 13657.20, 14982.10, 15201.00, 15599.20, 17429.50, 17527.00, 16477.60, 15170.10, 14595.40, 14973.30, 13405.80, 13980.60, 14360.20, 13772.00, 13819.80, 11490.50, 11188.60, 11474.90, 11607.40, 12899.20, 11600.10, 10931.40, 10868.40, 11359.40, 11259.40, 11171.40, 11440.70, 11786.30, 11296.40, 10106.30, 10221.10, 9170.54, 8830.75, 9174.91, 8277.01, 6955.27, 7754.00, 7621.30, 8265.59, 8736.98, 8621.90, 8129.97.	[Bitcoin Technical Analysis for 2018-02-11] Volume: 6122189824, RSI (14-day): 37.31, 50-day EMA: 11083.69, 200-day EMA: 8879.51 [Wider Market Context] None available. [Recent News (last 7 days)] Why Himax Technologies Looks Strong Going Into Q4 Earnings: Himax Technologies(NASDAQ: HIMX)hada mostly banner year in 2017, delivering delectable gains thanks to two big partnerships. First,Apple(NASDAQ: AAPL)decided to use Himax solutions for enabling Face ID in the iPhone X. Then,Qualcommchose it as a partnerfor developing 3D sensing solutions for smartphones and automobiles. But Himax's dream run came toa screeching haltin December after short-seller Citron Research accused the company's management of fraud. The unsubstantiated tweet sparked a sell-off even as the company denied allegations of fraud and said Citron's accusation had no credibility. Himax stock hasn't recovered yet, but the company has an opportunity to boost investor confidence when it releases its fourth-quarter results on Feb. 13. Will it be able to deliver? Let's see: Image Source: Getty Images. Wall Street analysts on average expect $0.14 per share in earnings from Himax on revenue of $185 million. By comparison, the company reported $0.03 per share in earnings in the year-ago quarter on $203 million in revenue. The consensus estimates are in line with the company's guidance issued in November, so it shouldn't have much difficulty meeting them. Moreover, investors shouldn't get hung up on the estimated 9% drop in Himax's revenue. The company is facing a tough year-over-year comparison because of the phaseout of one of its customer programs. And Himax is calling for a sharp rise in earnings thanks to an improving product mix that's leading to margin expansion. An increase in sales of touch and display driver-integration products, as well as a bump in shipments of 3D sensing chips manufactured using Himax's wafer-level optics technology, is positively impacting its gross margin profile. The improvement in the company's product mix helped it boost its Q3 gross margin by 170 basis points sequentially to 25.6%, 70 basis points above the original guidance. In Q4, Himax expects its gross margin to witness a sequential drop of 1% because of seasonality. But it will still be way better than the 19.1% gross margin reported by the company in the prior-year period, leading to a massive pop in earnings year over year. More important, the chipmaker's improved margin profile should give a nice boost to profitability as its top-line growth is expected to start picking up this year. Himax bears might worry that the company will issue tepid guidance because of Apple'smediocre outlook for the quarter including March. But one shouldn't forget that Himax wasn't an Apple supplier a year ago, so the chipmaker will gain even if Cupertino slashes its production during the current quarter because of seasonal patterns. There is a lot of speculation around iPhone X production. Certain outlets report that Cupertino could slash production by as much as 50% over the next two quarters because of weak demand, before eventually discontinuing it in the second half of the year. But such a move from Apple seems highly unlikely given the popularity of the iPhone X and its impact on Apple's sales. The iPhone X pulled up Apple's average selling prices during the holiday quarter. This boosted iPhone revenue by 13% year over yearin spite of a 1% dropin iPhone shipments during a quarter. What's more, Apple's guidance for the quarter including March calls for a 17% year-over-year growth in revenue. So I'm not putting much weight in the speculation that Apple could stop the production of its best-selling iPhone model. And there are reports that key Apple suppliers expect just a 10% drop in component orders this quarter, similar to what was done last year. More important, Apple isn't the only catalyst for Himax. As already mentioned, the chipmaker has a partnership with Qualcomm for making 3D sensing chips for smartphones and automotive applications. The good news is that their jointly developed 3D sensing solution will start contributing to Himax's revenue and profit from the first half of 2018. Himax said in the previous conference call that its SLiM 3D sensing solution for Android devices "will be ready for mass production and shipment by the end of the first quarter of 2018, with an initial capacity of 2 million units per month." Himax will gradually expand its capacity based on demand, and this should pave the way for long-term growth because use of 3D sensing modules in smartphones is expected to increase at a massive compound annual growth rate of 209% through 2020. Analysts expect Himax's revenue to grow almost 30% in fiscal 2018 after an estimated 14% decline last year. All in all, Himax looks ready to kick-start its turnaround with a strong Q4 report and a sunny guidance. More From The Motley Fool • 3 Growth Stocks at Deep-Value Prices • 5 Expected Social Security Changes in 2018 • 6 Years Later, 6 Charts That Show How Far Apple, Inc. Has Come Since Steve Jobs' Passing • 10 Best Stocks to Buy Today • The $16,122 Social Security Bonus You Cannot Afford to Miss • Bitcoin's Biggest Competitor Isn't Ethereum -- It's This Harsh Chauhanhas no position in any of the stocks mentioned. The Motley Fool owns shares of and recommends Apple. The Motley Fool owns shares of Qualcomm and has the following options: long January 2020 $150 calls on Apple and short January 2020 $155 calls on Apple. The Motley Fool has adisclosure policy. \|\| Why Himax Technologies Looks Strong Going Into Q4 Earnings: Himax Technologies (NASDAQ: HIMX) had a mostly banner year in 2017 , delivering delectable gains thanks to two big partnerships. First, Apple (NASDAQ: AAPL) decided to use Himax solutions for enabling Face ID in the iPhone X. Then, Qualcomm chose it as a partner for developing 3D sensing solutions for smartphones and automobiles. But Himax's dream run came to a screeching halt in December after short-seller Citron Research accused the company's management of fraud. The unsubstantiated tweet sparked a sell-off even as the company denied allegations of fraud and said Citron's accusation had no credibility. Himax stock hasn't recovered yet, but the company has an opportunity to boost investor confidence when it releases its fourth-quarter results on Feb. 13. Will it be able to deliver? Let's see: A die with buy, hold, and sell written on three faces placed with dollar bills. Image Source: Getty Images. The headline numbers Wall Street analysts on average expect $0.14 per share in earnings from Himax on revenue of $185 million. By comparison, the company reported $0.03 per share in earnings in the year-ago quarter on $203 million in revenue. The consensus estimates are in line with the company's guidance issued in November, so it shouldn't have much difficulty meeting them. Moreover, investors shouldn't get hung up on the estimated 9% drop in Himax's revenue. The company is facing a tough year-over-year comparison because of the phaseout of one of its customer programs. And Himax is calling for a sharp rise in earnings thanks to an improving product mix that's leading to margin expansion. An increase in sales of touch and display driver-integration products, as well as a bump in shipments of 3D sensing chips manufactured using Himax's wafer-level optics technology, is positively impacting its gross margin profile. The improvement in the company's product mix helped it boost its Q3 gross margin by 170 basis points sequentially to 25.6%, 70 basis points above the original guidance. Story continues In Q4, Himax expects its gross margin to witness a sequential drop of 1% because of seasonality. But it will still be way better than the 19.1% gross margin reported by the company in the prior-year period, leading to a massive pop in earnings year over year. More important, the chipmaker's improved margin profile should give a nice boost to profitability as its top-line growth is expected to start picking up this year. The outlook should be strong Himax bears might worry that the company will issue tepid guidance because of Apple's mediocre outlook for the quarter including March . But one shouldn't forget that Himax wasn't an Apple supplier a year ago, so the chipmaker will gain even if Cupertino slashes its production during the current quarter because of seasonal patterns. There is a lot of speculation around iPhone X production. Certain outlets report that Cupertino could slash production by as much as 50% over the next two quarters because of weak demand, before eventually discontinuing it in the second half of the year. But such a move from Apple seems highly unlikely given the popularity of the iPhone X and its impact on Apple's sales. The iPhone X pulled up Apple's average selling prices during the holiday quarter. This boosted iPhone revenue by 13% year over year in spite of a 1% drop in iPhone shipments during a quarter. What's more, Apple's guidance for the quarter including March calls for a 17% year-over-year growth in revenue. So I'm not putting much weight in the speculation that Apple could stop the production of its best-selling iPhone model. And there are reports that key Apple suppliers expect just a 10% drop in component orders this quarter, similar to what was done last year. More important, Apple isn't the only catalyst for Himax. As already mentioned, the chipmaker has a partnership with Qualcomm for making 3D sensing chips for smartphones and automotive applications. The good news is that their jointly developed 3D sensing solution will start contributing to Himax's revenue and profit from the first half of 2018. Himax said in the previous conference call that its SLiM 3D sensing solution for Android devices "will be ready for mass production and shipment by the end of the first quarter of 2018, with an initial capacity of 2 million units per month." Himax will gradually expand its capacity based on demand, and this should pave the way for long-term growth because use of 3D sensing modules in smartphones is expected to increase at a massive compound annual growth rate of 209% through 2020. Analysts expect Himax's revenue to grow almost 30% in fiscal 2018 after an estimated 14% decline last year. All in all, Himax looks ready to kick-start its turnaround with a strong Q4 report and a sunny guidance. More From The Motley Fool 3 Growth Stocks at Deep-Value Prices 5 Expected Social Security Changes in 2018 6 Years Later, 6 Charts That Show How Far Apple, Inc. Has Come Since Steve Jobs' Passing 10 Best Stocks to Buy Today The $16,122 Social Security Bonus You Cannot Afford to Miss Bitcoin's Biggest Competitor Isn't Ethereum -- It's This Harsh Chauhan has no position in any of the stocks mentioned. The Motley Fool owns shares of and recommends Apple. The Motley Fool owns shares of Qualcomm and has the following options: long January 2020 $150 calls on Apple and short January 2020 $155 calls on Apple. The Motley Fool has a disclosure policy . \|\| In the Near Future, Box Office Results Will Be Replaced by This Metric: In its last reported quarter, online TV streaming service Netflix (NASDAQ: NFLX) hit one out of the park, netting millions of new subscribers, while boosting its spending on new content. Meanwhile, ticket sales at the box office notched a year-over-year decline, this in spite of Disney 's (NYSE: DIS) newest installment of the Star Wars franchise. Despite the two metrics headed in opposite directions, many investors still look to the box office to measure the health of entertainment studios . My prediction: In the near future, total TV-streaming subscribers will be a metric we give more credence to. The situation Over the last decade, sales of tickets at movie theaters have declined. Theater operators have been able to partly offset this by raising ticket prices, enticing viewers with higher quality screens and reclining seats. Still, the slow slide at the box office isn't the rosiest of pictures. A line chart dating back to 2000. Ticket sales peaked in 2002 at nearly 1.6 billion. 2017 ticket sales were only slightly over 1.2 billion. Chart by author. Data source: Box Office Mojo. That isn't to say no one is watching a screen, it's just that the screens are smaller. Streaming video services, often credited for contributing to the ditching of traditional pay TV, are part of the problem for movie theaters, too. The U.S. leads the world in TV viewing, and the number of hours has crept even higher in recent years. The average family watches four and a half hours of TV content every day. An increasing amount of that is via a streaming service like Hulu, Netflix (NASDAQ: NFLX) , or Amazon 's (NASDAQ: AMZN) Prime Video service. Subscribers and churn: the metric of the future TV viewing at home is a leading factor in people going to the movies less often. That's a problem for entertainment studios. When they release a movie, the hope is for a blockbuster hit so that revenue from ticket sales is higher than the movie budget and advertising. It's a high stakes game, though, especially considering it's pretty easy for movie production budgets to reach nine digits these days, and that's before distribution and advertising costs. That makes the amount of profit gained, if any, unpredictable. Story continues An audience in a dark movie theater eating popcorn and drinking soda. Image source: Getty Images. With streaming services, revenues earned are a little less uncertain. Subscribers pay monthly fees for services, so the trick becomes keeping them paying with new quality content. In the past, that usually meant TV shows, as they provide more viewing time than movies. Miniseries and new movies are also headed to streaming, though, as Netflix has been showing off lately with its movie starring Will Smith, Bright , or cinematic event-style TV series like Stranger Things . The pace of new releases skipping the silver screen and going straight to the home could pick up. Netflix has competition from Hulu and Amazon's Prime video, both of which are dumping money into new content; Disney is also gearing up to launch its own service in 2019; and AT&T; (NYSE: T) has a similar service through its DirecTV subsidiary. Even Verizon (NYSE: VZ) has been rumored to be working on its own online streaming service. With all that competition, new content could become an increasingly important way to draw in and maintain subscribers, especially as studios themselves make internet streaming a bigger part of their business. Right now, new subscriber growth is alive and well as Americans and households abroad continue to migrate online. Eventually, that growth will start to slow as the industry matures and more competition enters the fray. At that point, churn rates -- the number of customers discontinuing their subscription to a service -- will become a way to measure the success of online entertainment content. I'm certainly not saying the box office will die out. The silver screen can still be a lucrative business. Studios have homed in on winning formulas for blockbusters, focusing on sequels, and sci-fi and superhero action adventures. However, if the trend keeps pace and ticket sales continue to struggle, look to streaming services to play an increasingly important role in paying the bills for entertainment studios. More From The Motley Fool 3 Growth Stocks at Deep-Value Prices 5 Expected Social Security Changes in 2018 6 Years Later, 6 Charts That Show How Far Apple, Inc. Has Come Since Steve Jobs' Passing 10 Best Stocks to Buy Today The $16,122 Social Security Bonus You Cannot Afford to Miss Bitcoin's Biggest Competitor Isn't Ethereum -- It's This John Mackey, CEO of Whole Foods Market, an Amazon subsidiary, is a member of The Motley Fool's board of directors. Nicholas Rossolillo owns shares of Verizon Communications and Walt Disney. The Motley Fool owns shares of and recommends Amazon, Netflix, Verizon Communications, and Walt Disney. The Motley Fool has a disclosure policy . \|\| In the Near Future, Box Office Results Will Be Replaced by This Metric: In its last reported quarter, online TV streaming serviceNetflix(NASDAQ: NFLX)hit one out of the park, netting millions of new subscribers, while boosting its spending on new content. Meanwhile, ticket sales at the box office notched a year-over-year decline, this in spite ofDisney's(NYSE: DIS)newest installment of theStar Warsfranchise. Despite the two metrics headed in opposite directions, many investors still look to the box office to measure the health ofentertainment studios. My prediction: In the near future, total TV-streaming subscribers will be a metric we give more credence to. Over the last decade, sales of tickets at movie theaters have declined. Theater operators have been able to partly offset this by raising ticket prices, enticing viewers with higher quality screens and reclining seats. Still, the slow slide at the box office isn't the rosiest of pictures. Chart by author. Data source: Box Office Mojo. That isn't to say no one is watching a screen, it's just that the screens are smaller. Streaming video services, often credited for contributing to the ditching of traditional pay TV, are part of the problem for movie theaters, too. The U.S. leads the world in TV viewing, and the number of hours has crept even higher in recent years. The average family watches four and a half hours of TV content every day. An increasing amount of that is via a streaming service like Hulu,Netflix(NASDAQ: NFLX), orAmazon's(NASDAQ: AMZN)Prime Video service. TV viewing at home is a leading factor in people going to the movies less often. That's a problem for entertainment studios. When they release a movie, the hope is for a blockbuster hit so that revenue from ticket sales is higher than the movie budget and advertising. It's a high stakes game, though, especially considering it's pretty easy for movie production budgets to reach nine digits these days, and that's before distribution and advertising costs. That makes the amount of profit gained, if any, unpredictable. Image source: Getty Images. With streaming services, revenues earned are a little less uncertain. Subscribers pay monthly fees for services, so the trick becomes keeping them paying with new quality content. In the past, that usually meant TV shows, as they provide more viewing time than movies. Miniseries and new movies are also headed to streaming, though, as Netflix has been showing off lately with its movie starring Will Smith,Bright, or cinematic event-style TV series likeStranger Things. The pace of new releases skipping the silver screen and going straight to the home could pick up. Netflix has competition from Hulu and Amazon's Prime video, both of which are dumping money into new content;Disneyis also gearing up to launch its own service in 2019; andAT&T;(NYSE: T)has a similar service through its DirecTV subsidiary. EvenVerizon(NYSE: VZ)has been rumored to be working on its own online streaming service. With all that competition, new content could become an increasingly important way to draw in and maintain subscribers, especially as studios themselves make internet streaming a bigger part of their business. Right now, new subscriber growth is alive and well as Americans and households abroad continue to migrate online. Eventually, that growth will start to slow as the industry matures and more competition enters the fray. At that point, churn rates -- the number of customers discontinuing their subscription to a service -- will become a way to measure the success of online entertainment content. I'm certainly not saying the box office will die out. The silver screen can still be a lucrative business. Studios have homed in on winning formulas for blockbusters, focusing on sequels, and sci-fi and superhero action adventures. However, if the trend keeps pace and ticket sales continue to struggle, look to streaming services to play an increasingly important role in paying the bills for entertainment studios. More From The Motley Fool • 3 Growth Stocks at Deep-Value Prices • 5 Expected Social Security Changes in 2018 • 6 Years Later, 6 Charts That Show How Far Apple, Inc. Has Come Since Steve Jobs' Passing • 10 Best Stocks to Buy Today • The $16,122 Social Security Bonus You Cannot Afford to Miss • Bitcoin's Biggest Competitor Isn't Ethereum -- It's This John Mackey, CEO of Whole Foods Market, an Amazon subsidiary, is a member of The Motley Fool's board of directors.Nicholas Rossolilloowns shares of Verizon Communications and Walt Disney. The Motley Fool owns shares of and recommends Amazon, Netflix, Verizon Communications, and Walt Disney. The Motley Fool has adisclosure policy. \|\| After Its Latest Earnings Report, Chipotle Can't Afford to Stand Still: Shares of Chipotle Mexican Grill, Inc. (NYSE: CMG) dove after the company's latest earnings report this week, and it's easy to see why. The numbers were disappointing across the board, but even worse, management seems to have no plan to fix things. Comparable sales increased a measly 0.9% in the fourth quarter 2017 at a time when the company is still lapping the plunge in sales from the E. coli crisis, and customer visits in the quarter actually fell 3% as the company appears to still be suffering from the July Norovirus incident that forced the temporary closing of a single location in Virginia. The rise in sales was instead due to a price increase, which is not a sustainable way to grow revenue. Overall revenue increased just 7.3% as the company slowed its pace of new store openings, and restaurant-level operating margin improved only 140 basis points to 14.9%, a far cry from the 26.6% margin it had in the fourth quarter of 2014 before the E. coli outbreak. Not surprisingly, earnings per share were also down nearly 70% from that period. In other words, Chipotle is still in the midst of a crisis, more than two years after customers began fleeing over E. coli concerns. A Chipotle location in Colorado Image source: Chipote. What, me worry? Chipotle shares spiked two months ago when the company announced it was looking for a new CEO and that founder Steve Ells would step aside to become Executive Chairman. The market's reaction seemed cathartic after two years of Chipotle's struggles following the E. coli outbreak, but Ells had no update on the search process during the earnings call and management had few ideas to drive growth. CFO Jack Hartung even said that transactions were likely to be negative until July, when the company laps the Norovirus incident from a year ago, explaining why the company guided for low-single-digit comparable sales in 2018. When your biggest growth driver is waiting for bad news to stop affecting comparisons, you have a problem, especially when your stock is trading at a P/E ratio of 50. Story continues Ells explained on the call that while investors and analysts regularly ask about new menu items to boost the brand and the company has a test kitchen devoted to such products, it's tricky to add new dishes due in part to the restaurant's assembly line format. There is only so much room on the serving line, which is partly why the company got rid of chorizo to make room for queso. The one new idea Chipotle did share on the call was to redesign its restaurants. Management said for the first time ever the company would invest more capital in its current store base than in new stores, and that it would double the amount it spends on per-restaurant upkeep to $20,000 this year. The company also said it would invest $10 million into new restaurant prototypes, which will inform new openings and remodels in 2019 and 2020. Still, Stifel analyst Chris Cull pointed out that the average restaurant remodel costs $250,000 to $500,000, and argued that Chipotle's initiative is too small to have a meaningful impact. A wider field of competition Chipotle may have problems beyond its own quixotic challenges. While the company has been spinning its wheels, trying to buff its tarnished brand, competitors large and small have been moving forward. Much in the way that Starbucks has been forced to defend itself from so-called third-wave coffee shops, Chipotle may face a new threat from younger fast-casual chains. In many ways, Chipotle pioneered the fast casual industry, showing that good food could be served fast, and leveraged the power of the assembly line in restaurants. But its success has spawned a slew of imitators. There are fast-casual salad chains like Chop't and Sweetgreen, burger businesses like Shake Shack , Habit Restaurant , and Smashburger, and even other fast-casual burrito chains like Dos Toros, Freebirds, and Torchy's Tacos. While Chipotle is busy soul-searching, New York-based Dos Toros, which opened its first location in 2009, has been in the midst of a growth spurt. The company expanded to its second city, Chicago, late last year, and plans to add five more restaurants this year on top of the 15 it already has. Co-CEO and co-founder Leo Kremer told me he considers himself a fan of Chipotle, but believes that it's harder for a company the size of Chipotle to innovate than for smaller companies like his own. He also thinks the quality of fast-casual cuisine has gone up so much, especially in cities, that the market is so much more competitive than it was when Chipotle first started out. With only 15 locations, Dos Toros is not going to be a direct threat to Chipotle anytime soon, but it's emblematic of the shift in the market, as consumers and Chipotle's own customers have many more choices than they did 10 or 20 years ago. That threat, as much as anything else, may be spiking Chipotle's hopes of returning to glory. With the competitive landscape changing, it's crucial that the burrito chain find a way to refresh its brand and regain some of its former appeal. Restaurant redesigns might be a good start, but the company needs something bolder to have a meaningful impact. Without it, the stock will likely continue to swoon. More From The Motley Fool 3 Growth Stocks at Deep-Value Prices 5 Expected Social Security Changes in 2018 6 Years Later, 6 Charts That Show How Far Apple, Inc. Has Come Since Steve Jobs' Passing 10 Best Stocks to Buy Today The $16,122 Social Security Bonus You Cannot Afford to Miss Bitcoin's Biggest Competitor Isn't Ethereum -- It's This Jeremy Bowman owns shares of Chipotle Mexican Grill, Habit Restaurants, Shake Shack, and Starbucks. The Motley Fool owns shares of and recommends Chipotle Mexican Grill and Starbucks. The Motley Fool is short shares of Shake Shack. The Motley Fool has a disclosure policy . \|\| After Its Latest Earnings Report, Chipotle Can't Afford to Stand Still: Shares ofChipotle Mexican Grill, Inc.(NYSE: CMG)doveafter the company's latest earnings report this week, and it's easy to see why. The numbers were disappointing across the board, but even worse, management seems to have no plan to fix things. Comparable sales increased a measly 0.9% in the fourth quarter 2017 at a time when the company is still lapping the plunge in sales from the E. coli crisis, and customer visits in the quarter actually fell 3% as the company appears to still be suffering from the JulyNorovirus incidentthat forced the temporary closing of a single location in Virginia. The rise in sales was instead due to a price increase, which is not a sustainable way to grow revenue. Overall revenue increased just 7.3% as the company slowed its pace of new store openings, and restaurant-level operating margin improved only 140 basis points to 14.9%, a far cry from the 26.6% margin it had in the fourth quarter of 2014 before the E. coli outbreak. Not surprisingly, earnings per share were also down nearly 70% from that period. In other words, Chipotle is still in the midst of a crisis, more than two years after customers began fleeing over E. coli concerns. Image source: Chipote. Chipotle shares spiked two months ago when the company announced it was looking for a new CEO and that founder Steve Ells would step aside to become Executive Chairman. The market's reaction seemed cathartic after two years of Chipotle's struggles following the E. coli outbreak, but Ells had no update on the search process during the earnings call and management had few ideas to drive growth. CFO Jack Hartung even said that transactions were likely to be negative until July, when the company laps the Norovirus incident from a year ago, explaining why the company guided for low-single-digit comparable sales in 2018. When your biggest growth driver is waiting for bad news to stop affecting comparisons, you have a problem, especially when your stock is trading at a P/E ratio of 50. Ells explained on the call that while investors and analysts regularly ask about new menu items to boost the brand and the company has a test kitchen devoted to such products, it's tricky to add new dishes due in part to the restaurant's assembly line format. There is only so much room on the serving line, which is partly why the company got rid of chorizo to make room for queso. The one new idea Chipotle did share on the call was to redesign its restaurants. Management said for the first time ever the company would invest more capital in its current store base than in new stores, and that it would double the amount it spends on per-restaurant upkeep to $20,000 this year. The company also said it would invest $10 million into new restaurant prototypes, which will inform new openings and remodels in 2019 and 2020. Still,Stifel analyst Chris Cullpointed out that the average restaurant remodel costs $250,000 to $500,000, and argued that Chipotle's initiative is too small to have a meaningful impact. Chipotle may have problems beyond its own quixotic challenges. While the company has been spinning its wheels, trying to buff its tarnished brand, competitors large and small have been moving forward. Much in the way thatStarbuckshas been forced to defend itself from so-called third-wave coffee shops, Chipotle may face a new threat from younger fast-casual chains. In many ways, Chipotle pioneered the fast casual industry, showing that good food could be served fast, and leveraged the power of the assembly line in restaurants. But its success has spawned a slew of imitators. There are fast-casual salad chains like Chop't and Sweetgreen, burger businesses likeShake Shack,Habit Restaurant, and Smashburger, and even other fast-casual burrito chains like Dos Toros, Freebirds, and Torchy's Tacos. While Chipotle is busy soul-searching, New York-based Dos Toros, which opened its first location in 2009, has been in the midst of a growth spurt. The company expanded to its second city, Chicago, late last year, and plans to add five more restaurants this year on top of the 15 it already has. Co-CEO and co-founder Leo Kremer told me he considers himself a fan of Chipotle, but believes that it's harder for a company the size of Chipotle to innovate than for smaller companies like his own. He also thinks the quality of fast-casual cuisine has gone up so much, especially in cities, that the market is so much more competitive than it was when Chipotle first started out. With only 15 locations, Dos Toros is not going to be a direct threat to Chipotle anytime soon, but it's emblematic of the shift in the market, as consumers and Chipotle's own customers have many more choices than they did 10 or 20 years ago. That threat, as much as anything else, may be spiking Chipotle's hopes of returning to glory. With the competitive landscape changing, it's crucial that the burrito chain find a way to refresh its brand and regain some of its former appeal. Restaurant redesigns might be a good start, but the company needs something bolder to have a meaningful impact. Without it, the stock will likely continue to swoon. More From The Motley Fool • 3 Growth Stocks at Deep-Value Prices • 5 Expected Social Security Changes in 2018 • 6 Years Later, 6 Charts That Show How Far Apple, Inc. Has Come Since Steve Jobs' Passing • 10 Best Stocks to Buy Today • The $16,122 Social Security Bonus You Cannot Afford to Miss • Bitcoin's Biggest Competitor Isn't Ethereum -- It's This Jeremy Bowmanowns shares of Chipotle Mexican Grill, Habit Restaurants, Shake Shack, and Starbucks. The Motley Fool owns shares of and recommends Chipotle Mexican Grill and Starbucks. The Motley Fool is short shares of Shake Shack. The Motley Fool has adisclosure policy. \|\| The Most Important Social Security Chart You'll Ever See: Social Security is such a vital program that most elderly beneficiaries get 50% or more of theirretirement incomefrom it, while 21% of married ones and 43% of unmarried ones get fully90%or more of their income from it. Clearly, it's worth trying to get as much from Social Security as you can. The more you know about how Social Security works, the more you'll be able to benefit from it, so here is a chart featuring the most important thing to know about it, along with some additional vital information. Image source: Getty Images. When it comes to starting to collect your Social Security retirement benefits, the age at which you do so makes a big difference in how big those checks will be. Start at your full retirement age, and you'll collect your full benefits. Start collecting earlier, and the checks will be smaller, while delaying starting will result in bigger checks. Just how much bigger or smaller? Well, you'll first need to know just what your full retirement age is. The full retirement age for Social Security used to be 65 for everyone, but it has been increased for many of us. For those born in 1937 or earlier, it remains 65; for those born in 1960 or later, it's 67; and for those born between 1937 and 1960, it's somewhere in between. No matter when your full retirement age is, you can claim and start collecting your benefitsas early as age 62and as late as age 70. For every year beyond your full retirement age that you delay starting to receive benefits, you'll increase their value by about 8% -- until age 70. So delaying from age 67 to 70 can leave you with checks about 24% fatter. If your full retirement age is 67 and you start collecting benefits at age 62, they will be 30% smaller. The table below shows the approximate percentage of your full benefits that you'll get if you start collecting at various ages. Note that many people have retirement ages between 66 and 67, such as 66 years and 8 months, so the table doesn't offer precise numbers for all. But it still gives a rough idea of the effect of waiting or being early. [{"Start Collecting at:": "62", "Full Retirement Age of 66": "75%", "Full Retirement Age of 67": "70%"}, {"Start Collecting at:": "63", "Full Retirement Age of 66": "80%", "Full Retirement Age of 67": "75%"}, {"Start Collecting at:": "64", "Full Retirement Age of 66": "86.7%", "Full Retirement Age of 67": "80%"}, {"Start Collecting at:": "65", "Full Retirement Age of 66": "93.3%", "Full Retirement Age of 67": "86.7%"}, {"Start Collecting at:": "66", "Full Retirement Age of 66": "100%", "Full Retirement Age of 67": "93.3%"}, {"Start Collecting at:": "67", "Full Retirement Age of 66": "108%", "Full Retirement Age of 67": "100%"}, {"Start Collecting at:": "68", "Full Retirement Age of 66": "116%", "Full Retirement Age of 67": "108%"}, {"Start Collecting at:": "69", "Full Retirement Age of 66": "124%", "Full Retirement Age of 67": "116%"}, {"Start Collecting at:": "70", "Full Retirement Age of 66": "132%", "Full Retirement Age of 67": "124%"}] Source: Social Security Administration. While the age at which you start collecting your benefits matters, it doesn't matter as much as you might think. That's because the program is designed so that total benefits received are about the same no matter when you start collecting, if you have an average life span. Checks that start arriving at age 62 will be considerably smaller, but you'll receive many more of them. So for most people, it's close to a wash. The average monthly retirement benefit was recently $1,404. That amounts to close to $17,000 per year. If your earnings have been above average, you'll collect more than that -- but relatively few people collect more than $30,000, so don't expect Social Security to provide as much as you'd like. (Therearemore ways toget the most out of Social Security, though.) Social Security might seem like a boring topic, but think of it as crucial cash arriving in your bank account every month for many years, and it can start to get more interesting. More From The Motley Fool • 3 Growth Stocks at Deep-Value Prices • 5 Expected Social Security Changes in 2018 • 6 Years Later, 6 Charts That Show How Far Apple, Inc. Has Come Since Steve Jobs' Passing • 10 Best Stocks to Buy Today • The $16,122 Social Security Bonus You Cannot Afford to Miss • Bitcoin's Biggest Competitor Isn't Ethereum -- It's This The Motley Fool has adisclosure policy. \|\| The Most Important Social Security Chart You'll Ever See: Social Security is such a vital program that most elderly beneficiaries get 50% or more of their retirement income from it, while 21% of married ones and 43% of unmarried ones get fully 90% or more of their income from it. Clearly, it's worth trying to get as much from Social Security as you can. The more you know about how Social Security works, the more you'll be able to benefit from it, so here is a chart featuring the most important thing to know about it, along with some additional vital information. the words you should know this, and a hand holding a pen Image source: Getty Images. For Social Security benefits, timing matters When it comes to starting to collect your Social Security retirement benefits, the age at which you do so makes a big difference in how big those checks will be. Start at your full retirement age, and you'll collect your full benefits. Start collecting earlier, and the checks will be smaller, while delaying starting will result in bigger checks. Just how much bigger or smaller? Well, you'll first need to know just what your full retirement age is. The full retirement age for Social Security used to be 65 for everyone, but it has been increased for many of us. For those born in 1937 or earlier, it remains 65; for those born in 1960 or later, it's 67; and for those born between 1937 and 1960, it's somewhere in between. No matter when your full retirement age is, you can claim and start collecting your benefits as early as age 62 and as late as age 70. For every year beyond your full retirement age that you delay starting to receive benefits, you'll increase their value by about 8% -- until age 70. So delaying from age 67 to 70 can leave you with checks about 24% fatter. If your full retirement age is 67 and you start collecting benefits at age 62, they will be 30% smaller. The table below shows the approximate percentage of your full benefits that you'll get if you start collecting at various ages. Note that many people have retirement ages between 66 and 67, such as 66 years and 8 months, so the table doesn't offer precise numbers for all. But it still gives a rough idea of the effect of waiting or being early. Story continues Start Collecting at: Full Retirement Age of 66 Full Retirement Age of 67 62 75% 70% 63 80% 75% 64 86.7% 80% 65 93.3% 86.7% 66 100% 93.3% 67 108% 100% 68 116% 108% 69 124% 116% 70 132% 124% Source: Social Security Administration. It's a wash! While the age at which you start collecting your benefits matters, it doesn't matter as much as you might think. That's because the program is designed so that total benefits received are about the same no matter when you start collecting, if you have an average life span. Checks that start arriving at age 62 will be considerably smaller, but you'll receive many more of them. So for most people, it's close to a wash. The average monthly retirement benefit was recently $1,404. That amounts to close to $17,000 per year. If your earnings have been above average, you'll collect more than that -- but relatively few people collect more than $30,000, so don't expect Social Security to provide as much as you'd like. (There are more ways to get the most out of Social Security , though.) Social Security might seem like a boring topic, but think of it as crucial cash arriving in your bank account every month for many years, and it can start to get more interesting. More From The Motley Fool 3 Growth Stocks at Deep-Value Prices 5 Expected Social Security Changes in 2018 6 Years Later, 6 Charts That Show How Far Apple, Inc. Has Come Since Steve Jobs' Passing 10 Best Stocks to Buy Today The $16,122 Social Security Bonus You Cannot Afford to Miss Bitcoin's Biggest Competitor Isn't Ethereum -- It's This The Motley Fool has a disclosure policy . \|\| Arizona Senate Votes to Accept Tax Payments in Bitcoin: The Arizona Senate on Thursdaypassed a billthat would allow residents to pay their income taxes using Bitcoin or other cryptocurrencies "recognized" by the state's revenue authorities. The law will next be considered by the state's House of Representatives. Accepting payment of income taxes in cryptocurrency has profound symbolic and practical significance. Historically, the use of government-issued currencies for the payment of income tax has helped guarantee those currency's widespread adoption as a payments medium. Skeptics of systems like Bitcoin, which allow quick global payments but are not issued or backed by governments, have argued in part that their separation from government revenue structures reduces their inherent usefulness and, in turn, value. Get Data Sheet,Fortune'stechnology newsletter. The Arizona move, then, is a positive signal for Bitcoin. But Arizona State Representative Jeff Weninger, who has sponsored similar bills, says the primary goal is to foster technological innovation in the state. The bill, Weningertold Fox News, is "sending a signal to everyone in the United States and possibly throughout the world that Arizona is going to be the place to be for blockchain and digital currency technology in the future." That may sound like a longshot, given the concentration of tech innovation in places like San Francisco and New York. But blockchain tech in particular has been met with widely divergent regulatory approaches that could reshape that landscape. For instance, New York's controversial 'BitLicense' law is widely seen asrestrictiveto blockchain innovation and may be pushing startups out of the state. The Arizona Senate bill includes a provision mandating that cryptocurrency payments be converted to U.S. dollars within 24 hours of their payment. That could help address concerns about thevolatilityof cryptocurrency values and its potential impact on state revenues. See original article on Fortune.com More from Fortune.com • Bitcoin and Bug Bounties on the Hill, Apple and Cisco's Cyber Deal, iPhone Leak • Bitcoins Worth $4.7 Million Seized in Fake ID Case • Russia Arrests Nuclear Scientists Who Used a Supercomputer to Mine Bitcoin • Forget the Stock Market. Investors Are Trading in Gold for Bitcoin • Litecoin Is Now a Surprise Favorite of Criminals Tired of Bitcoin \|\| Arizona Senate Votes to Accept Tax Payments in Bitcoin: The Arizona Senate on Thursday passed a bill that would allow residents to pay their income taxes using Bitcoin or other cryptocurrencies "recognized" by the state's revenue authorities. The law will next be considered by the state's House of Representatives. Accepting payment of income taxes in cryptocurrency has profound symbolic and practical significance. Historically, the use of government-issued currencies for the payment of income tax has helped guarantee those currency's widespread adoption as a payments medium. Skeptics of systems like Bitcoin, which allow quick global payments but are not issued or backed by governments, have argued in part that their separation from government revenue structures reduces their inherent usefulness and, in turn, value. Get Data Sheet , Fortune's technology newsletter. The Arizona move, then, is a positive signal for Bitcoin. But Arizona State Representative Jeff Weninger, who has sponsored similar bills, says the primary goal is to foster technological innovation in the state. The bill, Weninger told Fox News , is "sending a signal to everyone in the United States and possibly throughout the world that Arizona is going to be the place to be for blockchain and digital currency technology in the future." That may sound like a longshot, given the concentration of tech innovation in places like San Francisco and New York. But blockchain tech in particular has been met with widely divergent regulatory approaches that could reshape that landscape. For instance, New York's controversial 'BitLicense' law is widely seen as restrictive to blockchain innovation and may be pushing startups out of the state. The Arizona Senate bill includes a provision mandating that cryptocurrency payments be converted to U.S. dollars within 24 hours of their payment. That could help address concerns about the volatility of cryptocurrency values and its potential impact on state revenues. Story continues See original article on Fortune.com More from Fortune.com Bitcoin and Bug Bounties on the Hill, Apple and Cisco's Cyber Deal, iPhone Leak Bitcoins Worth $4.7 Million Seized in Fake ID Case Russia Arrests Nuclear Scientists Who Used a Supercomputer to Mine Bitcoin Forget the Stock Market. Investors Are Trading in Gold for Bitcoin Litecoin Is Now a Surprise Favorite of Criminals Tired of Bitcoin \|\| Arizona Senate Votes to Accept Tax Payments in Bitcoin: The Arizona Senate on Thursdaypassed a billthat would allow residents to pay their income taxes using Bitcoin or other cryptocurrencies "recognized" by the state's revenue authorities. The law will next be considered by the state's House of Representatives. Accepting payment of income taxes in cryptocurrency has profound symbolic and practical significance. Historically, the use of government-issued currencies for the payment of income tax has helped guarantee those currency's widespread adoption as a payments medium. Skeptics of systems like Bitcoin, which allow quick global payments but are not issued or backed by governments, have argued in part that their separation from government revenue structures reduces their inherent usefulness and, in turn, value. Get Data Sheet,Fortune'stechnology newsletter. The Arizona move, then, is a positive signal for Bitcoin. But Arizona State Representative Jeff Weninger, who has sponsored similar bills, says the primary goal is to foster technological innovation in the state. The bill, Weningertold Fox News, is "sending a signal to everyone in the United States and possibly throughout the world that Arizona is going to be the place to be for blockchain and digital currency technology in the future." That may sound like a longshot, given the concentration of tech innovation in places like San Francisco and New York. But blockchain tech in particular has been met with widely divergent regulatory approaches that could reshape that landscape. For instance, New York's controversial 'BitLicense' law is widely seen asrestrictiveto blockchain innovation and may be pushing startups out of the state. The Arizona Senate bill includes a provision mandating that cryptocurrency payments be converted to U.S. dollars within 24 hours of their payment. That could help address concerns about thevolatilityof cryptocurrency values and its potential impact on state revenues. See original article on Fortune.com More from Fortune.com • Bitcoin and Bug Bounties on the Hill, Apple and Cisco's Cyber Deal, iPhone Leak • Bitcoins Worth $4.7 Million Seized in Fake ID Case • Russia Arrests Nuclear Scientists Who Used a Supercomputer to Mine Bitcoin • Forget the Stock Market. Investors Are Trading in Gold for Bitcoin • Litecoin Is Now a Surprise Favorite of Criminals Tired of Bitcoin \|\| Tech Stocks This Week: Twitter Stock Soars, iRobot Stock Plummets, and More: Earnings season continued this week, sending some tech stocks soaring and others plummeting. Others remained particularly steady after their reports. Here are three interesting stories from tech stocks this week that all managed to solicit significantly different reactions from investors: Twitter (NYSE: TWTR) stock soared when the company swung to a profit and reported higher-than-expected revenue. iRobot (NASDAQ: IRBT) stock took a hit after the company reported weaker-than-expected bottom-line guidance. Activision Blizzard (NASDAQ: ATVI) stock held steady after reporting results ahead of management's guidance for the quarter. A woman looking at her smartphone while using her laptop Image source: Getty Images. Twitter soars For Twitter's fourth quarter, investors were hoping the social network would show signs that it was close to returning to top-line growth . Instead, Twitter said it already returned to growth. Revenue was up 2% year over year in Twitter's fourth quarter -- a distinct change from the 4% year-over-year revenue decline it reported in its third quarter of 2017. Other key achievements during the quarter included returning to GAAP profitability with earnings per share of $0.12, a fifth consecutive quarter of double-digit daily active user growth, and 10% year-over-year growth in its data licensing revenue. Twitter stock soared after the report was released -- and shares finished the week up 22% even as the S&P 500 pulled back 5%. iRobot plummets Despite reporting 54% revenue growth and guiding for 2018 revenue above analysts' estimates, iRobot still managed to plummet after the company released its fourth-quarter results, falling around 30%. Bearish sentiment toward the stock probably reflected iRobot's lower-than-expected guidance for its full-year earnings per share. iRobot CEO Colin Angle's attempt to explain its lower-than-expected guidance for earnings per share during the company's quarterly conference call failed to alleviate concerns. "I want to reiterate that iRobot is committed to a profitable growth strategy, showing an improving top line and bottom line," Angle explained. "But at this moment in time, with the market accelerating in its growth and competitive pressure coming into the markets, we made a choice to double down on ensuring we had adequate dry powder to drive that top-line growth." Story continues iRobot stock fell a total of 35% last week. Activision Blizzard holds steady On Thursday, Activision Blizzard reported strong results that helped the gaming company finish the year with record revenue and cash flow, as well as important new customer engagement milestones. Fourth-quarter revenue was $2.04 billion, up from $2.01 billion in the year-ago quarter and far ahead of management's guidance for fourth-quarter revenue of $1.7 billion. Non-GAAP EPS was $0.49, down from $0.65 in the year-ago quarter, but well ahead of guidance for non-GAAP EPS of $0.36. For the full year, Activision's revenue and non-GAAP EPS were $7.02 billion and $2.21, up from $6.61 billion and $2.18 in 2016. For 2018, Activision said it expected strong growth, guiding for revenue of $7.35 billion and non-GAAP EPS of $2.45. Importantly, Activision said players across Activision, Blizzard, and King games spent an average of over 50 minutes per day gaming for the second quarter in a row. The stock traded about 1.9% higher after Activision's earnings release -- about in line with the S&P 500's rise on Friday. For the week, shares were down about 6%, slightly worse than the S&P 500's 5% pullback. More From The Motley Fool 3 Growth Stocks at Deep-Value Prices 5 Expected Social Security Changes in 2018 6 Years Later, 6 Charts That Show How Far Apple, Inc. Has Come Since Steve Jobs' Passing 10 Best Stocks to Buy Today The $16,122 Social Security Bonus You Cannot Afford to Miss Bitcoin's Biggest Competitor Isn't Ethereum -- It's This Daniel Sparks has no position in any of the stocks mentioned. The Motley Fool owns shares of and recommends Activision Blizzard, iRobot, and Twitter. The Motley Fool has a disclosure policy . \|\| Tech Stocks This Week: Twitter Stock Soars, iRobot Stock Plummets, and More: Earnings season continued this week, sending some tech stocks soaring and others plummeting. Others remained particularly steady after their reports. Here are three interesting stories from tech stocks this week that all managed to solicit significantly different reactions from investors: 1. Twitter(NYSE: TWTR)stock soared when the company swung to a profit and reported higher-than-expected revenue. 2. iRobot(NASDAQ: IRBT)stock took a hit after the company reported weaker-than-expected bottom-line guidance. 3. Activision Blizzard(NASDAQ: ATVI)stock held steady after reporting results ahead of management's guidance for the quarter. Image source: Getty Images. For Twitter's fourth quarter, investors were hoping the social network wouldshow signs that it was close to returning to top-line growth. Instead, Twitter said it already returned to growth. Revenue was up 2% year over year in Twitter's fourth quarter -- a distinct change from the 4% year-over-year revenue decline it reported in its third quarter of 2017. Other key achievements during the quarter included returning to GAAP profitability with earnings per share of $0.12, a fifth consecutive quarter of double-digit daily active user growth, and 10% year-over-year growth in its data licensing revenue. Twitter stocksoaredafter the report was released -- and shares finished the week up 22% even as the S&P 500 pulled back 5%. Despite reporting 54% revenue growth and guiding for 2018 revenue above analysts' estimates, iRobot still managed to plummet after the company released its fourth-quarter results, falling around 30%. Bearish sentiment toward the stock probably reflected iRobot's lower-than-expected guidance for its full-year earnings per share. iRobot CEO Colin Angle's attempt toexplain its lower-than-expected guidancefor earnings per share during the company's quarterly conference call failed to alleviate concerns. "I want to reiterate that iRobot is committed to a profitable growth strategy, showing an improving top line and bottom line," Angle explained. "But at this moment in time, with the market accelerating in its growth and competitive pressure coming into the markets, we made a choice to double down on ensuring we had adequate dry powder to drive that top-line growth." iRobot stock fell a total of 35% last week. On Thursday, Activision Blizzard reported strong results that helped the gaming company finish the year with record revenue and cash flow, as well as important new customer engagement milestones. Fourth-quarter revenue was $2.04 billion, up from $2.01 billion in the year-ago quarter and far ahead of management's guidance for fourth-quarter revenue of $1.7 billion. Non-GAAP EPS was $0.49, down from $0.65 in the year-ago quarter, but well ahead of guidance for non-GAAP EPS of $0.36. For the full year, Activision's revenue and non-GAAP EPS were $7.02 billion and $2.21, up from $6.61 billion and $2.18 in 2016. For 2018, Activision said it expected strong growth, guiding for revenue of $7.35 billion and non-GAAP EPS of $2.45. Importantly, Activision said players across Activision, Blizzard, and King games spent an average of over 50 minutes per day gaming for the second quarter in a row. The stock traded about 1.9% higher after Activision's earnings release -- about in line with the S&P 500's rise on Friday. For the week, shares were down about 6%, slightly worse than the S&P 500's 5% pullback. More From The Motley Fool • 3 Growth Stocks at Deep-Value Prices • 5 Expected Social Security Changes in 2018 • 6 Years Later, 6 Charts That Show How Far Apple, Inc. Has Come Since Steve Jobs' Passing • 10 Best Stocks to Buy Today • The $16,122 Social Security Bonus You Cannot Afford to Miss • Bitcoin's Biggest Competitor Isn't Ethereum -- It's This Daniel Sparkshas no position in any of the stocks mentioned. The Motley Fool owns shares of and recommends Activision Blizzard, iRobot, and Twitter. The Motley Fool has adisclosure policy. \|\| Bitcoin and Bug Bounties on the Hill, Apple and Cisco's Cyber Deal, iPhone Leak: Good morning, Cyber Saturday readers. On Tuesday, the U.S. Senate convened two hearings on a couple of this newsletters favorite topics: cryptocurrencies and bug bounty programs. The days testimonies were chock full of fresh insightsand were a welcome diversion, for this author, from the governments unending budgetary troubles . The first hearing before the Senate Banking Committee saw Jay Clayton, chair of the Securities and Exchange Commission, and Christopher Giancarlo, chair of the Commodity Futures Trading Commission, dish about virtual money. Amid cratering prices, repeated thefts, and recent banking credit bans, Bitcoin investors had braced themselves for the worst. The regulators, however, struck several positive notes during the session , praising Bitcoin for spurring innovations in digital ledger technology. Giancarlo, for one, promised a thoughtful and balanced response, and not a dismissive one to the digital gold rush. One point to keep an eye on: Clayton warned entrepreneurs against initial coin offerings, recent fundraising phenomena that founders have used to raise billions of dollars through the sale of self-minted digital tokens. To the extent that digital assets like ICOs [initial coin offerings] are securitiesand I believe every ICO Ive seen is a securitywe have jurisdiction and our federal securities laws apply, he said. Expect Claytons agency to continue to pursue action against projects it deems in violation of securities laws. The second hearing before the Senate Subcommittee on Consumer Protection invited cybersecurity professionals to the Hill to discuss the historically uneasy relationship between companies and hackers. Some highlights: John Flynn, Ubers chief information security officer, told the panel that his company made a misstep by failing to promptly report a 2016 data breach that recently came to light. Mårtin Mickos, CEO of HackerOne, a bug bounty startup, urged legislators to revise laws used to prosecute hackers and to standardize data breach notification requirements at the federal level. And Katie Moussouris, founder of Luta Security, a bug bounty consultancy, pressed companies to adopt clear policies around vulnerability reporting. (HackerOne posted a nice recap of the days happenings, which you can read on its blog here .) Story continues Both hearings were highly encouraging. Lets hope that when the lawmakers reexamine their books, theyll keep the good sense of these experts in mind. Have a great weekend. Robert Hackett @rhhackett [email protected] Welcome to the Cyber Saturday edition of Data Sheet, Fortune s daily tech newsletter. Fortune reporter Robert Hackett here. You may reach Robert Hackett via Twitter , Cryptocat , Jabber (see OTR fingerprint on my about.me ), PGP encrypted email (see public key on my Keybase.io ), Wickr , Signal , or however you (securely) prefer. Feedback welcome. THREATS Digital defense discount deals. Insurer Allianz will offer discounts on cybersecurity insurance coverage to customers that use Apple devices, like Macs and iPhones, Cisco security products designed to protect against ransomware attacks, and risk evaluations from Aon, the professional services firm. Apple CEO Tim Cook and Cisco CEO Tim Robbins revealed in June that they were collaborating with insurers on these new policies. Suspicious spy saga sours. U.S. intelligence agents, lured by the possibility of recovering hacking tools stolen from the NSA, paid a Russian intermediary an installment of $100,000 for the alleged cyber weapons last year. Further negotiations fell through after the Russian source delivered only materials already made public by the shadow brokers, a mysterious group that first started leaking the NSA attack code in 2016, and as the source continued to push unverifiable, allegedly compromising materials related to President Donald Trump. Intern infiltrates iPhone internals. Apple forced the code-sharing website Github to take down a post containing leaked source code for the iPhones boot process this week, as Motherboard first reported . Apparently, the code escaped Apple headquarters when a lowly intern absconded with the files and shared them with friends in the jailbreaking hacker community. Banks ban Bitcoin buys. Credit card issuers are forbidding cryptocurrency purchases on credit in an effort to reduce financial and legal risks . Firms that have recently blacklisted Bitcoin sellers include Bank of America, J.P. Morgan Chase, Citigroup, Capital One, Discover, and Lloyds . Hey, you using that nuclear supercomputer? Mind if I borrow it for something ? Share todays Data Sheet with a friend: http://fortune.com/newsletter/datasheet/ Looking for previous Data Sheets? Click here . ACCESS GRANTED If we lived in a dystopian world without trust, Bitcoin might dominate existing payment methods. But in this world, where people do tend to trust financial institutions to handle payments and central banks to maintain the value of money it seems unlikely that bitcoin could ever be as convenient as existing payment means. Antoine Martin, an economist at the Federal Reserve Bank of New York, penned an op-ed that takes a whack at Bitcoin . He said the cryptocurrency could be usefuljust not in this universe. But then, thats what a Fed banker would say Meanwhile, Tyler Winklevoss told CNBC that people who fail to see Bitcoins potential suffer a failure of imagination . FORTUNE RECON Forget the Stock Market. Investors Are Trading in Gold for Bitcoin , by Lucinda Shen Hackers Could Crack Millions of Samsung and Roku Smart TVs , by Jonathan Vanian This Company Wants to Sequence Your Genome, Put It On a BlockchainAnd Pay You For It , by Sy Mukherjee Litecoin Is Now a Surprise Favorite of Criminals Tired of Bitcoin , by Jeff John Roberts How the NYPD Is Using Apple iPhones to Fight Crime in New York City , by Don Reisinger Reddits Alexis Ohanian Thinks Software Will Dominate Venture Capital , by Polina Marinova Ripple-Powered Mobile Payments to Debut at Santander , by David Z. Morris These Charts Show How Security Pros Are Rising in the Corporate Ranks , by Robert Hackett Two Men Charged With Jackpotting ATM Machines in New England , by Hallie Detrick North Korean Hackers May Have Stolen $530 Million From a Japanese Cryptocurrency Exchange , by Laignee Barron ONE MORE THING Inside the smart home panopticon. If youre interested in living in a smart homean abode outfitted with hi-tech, Internet-connected gadgetryyou should first understand the extent to which everyday household items will spy on you. This Gizmodo investigation details, in an entertaining firsthand account, the many ways that connected TVs, security cameras, coffee makers, mattress covers, and more mundane objects invade peoples privacy. Add to that the micro-aggravations of dealing with buggy domestic devices and youll be left wondering how this stuff ever came to be called smart. \|\| Bitcoin and Bug Bounties on the Hill, Apple and Cisco's Cyber Deal, iPhone Leak: Good morning, Cyber Saturday readers. On Tuesday, the U.S. Senate convened two hearings on a couple of this newsletter’s favorite topics: cryptocurrencies and bug bounty programs. The day’s testimonies were chock full of fresh insights—and were a welcome diversion, for this author, from the government’sunending budgetary troubles. Thefirst hearingbefore the Senate Banking Committee saw Jay Clayton, chair of the Securities and Exchange Commission, and Christopher Giancarlo, chair of the Commodity Futures Trading Commission, dish about virtual money. Amid cratering prices, repeated thefts, and recent banking credit bans, Bitcoin investors had braced themselves for the worst. The regulators, however, struck several positive notes duringthe session, praising Bitcoin for spurring innovations in digital ledger technology. Giancarlo, for one, promised “a thoughtful and balanced response, and not a dismissive one” to the digital gold rush. One point to keep an eye on: Clayton warned entrepreneurs against “initial coin offerings,” recent fundraising phenomena that founders have used to raise billions of dollars through the sale of self-minted digital tokens. “To the extent that digital assets like ICOs [initial coin offerings] are securities—and I believe every ICO I’ve seen is a security—we have jurisdiction and our federal securities laws apply,” he said. Expect Clayton’s agency to continue to pursue action against projects it deems in violation of securities laws. Thesecond hearingbefore the Senate Subcommittee on Consumer Protection invited cybersecurity professionals to the Hill to discuss the historically uneasy relationship between companies and hackers. Some highlights: John Flynn, Uber’s chief information security officer, told the panel that his company “made a misstep” by failing to promptly report a 2016data breachthat recently came to light. Mårtin Mickos, CEO of HackerOne, a bug bounty startup,urged legislatorsto revise laws used to prosecute hackers and to standardize data breach notification requirements at the federal level. And Katie Moussouris, founder of Luta Security, a bug bounty consultancy, pressed companies to adopt clear policies around vulnerability reporting. (HackerOne posted a nice recap of the day’s happenings, which you can read on its bloghere.) Both hearings were highly encouraging. Let’s hope that when the lawmakers reexamine their books, they’ll keep the good sense of these experts in mind. Have a great weekend. Robert Hackett @rhhackett [email protected] Welcome to the Cyber Saturday edition of Data Sheet,Fortune’sdaily tech newsletter.Fortunereporter Robert Hackett here. You may reach Robert Hackett viaTwitter,Cryptocat,Jabber(see OTR fingerprint on myabout.me), PGP encrypted email (see public key on myKeybase.io),Wickr,Signal, or however you (securely) prefer.Feedback welcome. Digital defense discount deals.Insurer Allianz will offerdiscounts on cybersecurity insurancecoverage to customers that use Apple devices, like Macs and iPhones, Cisco security products designed to protect against ransomware attacks, and risk evaluations from Aon, the professional services firm. Apple CEO Tim Cook and Cisco CEO Tim Robbinsrevealed in Junethat they were collaborating with insurers on these new policies. Suspicious spy saga sours.U.S. intelligence agents, lured by the possibility of recovering hacking tools stolen from the NSA,paid a Russian intermediaryan installment of $100,000 for the alleged cyber weapons last year. Furthernegotiations fell throughafter the Russian source delivered only materials already made public by the “shadow brokers,” a mysterious group that first started leaking the NSA attack code in 2016, and as the source continued to push unverifiable, allegedly compromising materials related to President Donald Trump. Intern infiltrates iPhone internals.Apple forced the code-sharing website Github to take down a post containing leaked source code for the iPhone’s boot process this week, asMotherboard first reported. Apparently, the code escaped Apple headquarters when a lowlyintern absconded with the filesand shared them with friends in the “jailbreaking” hacker community. Banks ban Bitcoin buys.Credit card issuers areforbidding cryptocurrency purchases on creditin an effort to reducefinancial and legal risks. Firms that have recently blacklisted Bitcoin sellers include Bank of America, J.P. Morgan Chase, Citigroup, Capital One, Discover, andLloyds. Hey, you using that nuclear supercomputer? Mind if Iborrow it for something? Share today’s Data Sheet with a friend: http://fortune.com/newsletter/datasheet/ Looking for previous Data Sheets? Clickhere. “If we lived in a dystopian world without trust, Bitcoin might dominate existing payment methods. But in this world, where people do tend to trust financial institutions to handle payments and central banks to maintain the value of money it seems unlikely that bitcoin could ever be as convenient as existing payment means.” —Antoine Martin, an economist at the Federal Reserve Bank of New York, penned an op-ed thattakes a whack at Bitcoin. He said the cryptocurrency could be useful—just not in this universe.But then, that’s what a Fed bankerwouldsay… Meanwhile, Tyler Winklevoss told CNBC that people who fail to see Bitcoin’s potential suffer a “failure of imagination.” Forget the Stock Market. Investors Are Trading in Gold for Bitcoin,by Lucinda Shen Hackers Could Crack Millions of Samsung and Roku Smart TVs,by Jonathan Vanian This Company Wants to Sequence Your Genome, Put It On a Blockchain—And Pay You For It,by Sy Mukherjee Litecoin Is Now a Surprise Favorite of Criminals Tired of Bitcoin,by Jeff John Roberts How the NYPD Is Using Apple iPhones to Fight Crime in New York City,by Don Reisinger Reddit’s Alexis Ohanian Thinks Software Will Dominate Venture Capital,by Polina Marinova Ripple-Powered Mobile Payments to Debut at Santander,by David Z. Morris These Charts Show How Security Pros Are Rising in the Corporate Ranks,by Robert Hackett Two Men Charged With ‘Jackpotting’ ATM Machines in New England,by Hallie Detrick North Korean Hackers May Have Stolen $530 Million From a Japanese Cryptocurrency Exchange,by Laignee Barron Inside the “smart” home panopticon.If you’re interested in living in a “smart” home—an abode outfitted with hi-tech, Internet-connected gadgetry—you should first understand the extent to which everyday household items will spy on you. ThisGizmodo investigationdetails, in an entertaining firsthand account, the many ways that connected TVs, security cameras, coffee makers, mattress covers, and more mundane objects invade people’s privacy. Add to that the micro-aggravations of dealing with buggy domestic devices and you’ll be left wondering how this stuff ever came to be called “smart.” \|\| Bitcoin and Bug Bounties on the Hill, Apple and Cisco's Cyber Deal, iPhone Leak: Good morning, Cyber Saturday readers. On Tuesday, the U.S. Senate convened two hearings on a couple of this newsletter’s favorite topics: cryptocurrencies and bug bounty programs. The day’s testimonies were chock full of fresh insights—and were a welcome diversion, for this author, from the government’sunending budgetary troubles. Thefirst hearingbefore the Senate Banking Committee saw Jay Clayton, chair of the Securities and Exchange Commission, and Christopher Giancarlo, chair of the Commodity Futures Trading Commission, dish about virtual money. Amid cratering prices, repeated thefts, and recent banking credit bans, Bitcoin investors had braced themselves for the worst. The regulators, however, struck several positive notes duringthe session, praising Bitcoin for spurring innovations in digital ledger technology. Giancarlo, for one, promised “a thoughtful and balanced response, and not a dismissive one” to the digital gold rush. One point to keep an eye on: Clayton warned entrepreneurs against “initial coin offerings,” recent fundraising phenomena that founders have used to raise billions of dollars through the sale of self-minted digital tokens. “To the extent that digital assets like ICOs [initial coin offerings] are securities—and I believe every ICO I’ve seen is a security—we have jurisdiction and our federal securities laws apply,” he said. Expect Clayton’s agency to continue to pursue action against projects it deems in violation of securities laws. Thesecond hearingbefore the Senate Subcommittee on Consumer Protection invited cybersecurity professionals to the Hill to discuss the historically uneasy relationship between companies and hackers. Some highlights: John Flynn, Uber’s chief information security officer, told the panel that his company “made a misstep” by failing to promptly report a 2016data breachthat recently came to light. Mårtin Mickos, CEO of HackerOne, a bug bounty startup,urged legislatorsto revise laws used to prosecute hackers and to standardize data breach notification requirements at the federal level. And Katie Moussouris, founder of Luta Security, a bug bounty consultancy, pressed companies to adopt clear policies around vulnerability reporting. (HackerOne posted a nice recap of the day’s happenings, which you can read on its bloghere.) Both hearings were highly encouraging. Let’s hope that when the lawmakers reexamine their books, they’ll keep the good sense of these experts in mind. Have a great weekend. Robert Hackett @rhhackett [email protected] Welcome to the Cyber Saturday edition of Data Sheet,Fortune’sdaily tech newsletter.Fortunereporter Robert Hackett here. You may reach Robert Hackett viaTwitter,Cryptocat,Jabber(see OTR fingerprint on myabout.me), PGP encrypted email (see public key on myKeybase.io),Wickr,Signal, or however you (securely) prefer.Feedback welcome. Digital defense discount deals.Insurer Allianz will offerdiscounts on cybersecurity insurancecoverage to customers that use Apple devices, like Macs and iPhones, Cisco security products designed to protect against ransomware attacks, and risk evaluations from Aon, the professional services firm. Apple CEO Tim Cook and Cisco CEO Tim Robbinsrevealed in Junethat they were collaborating with insurers on these new policies. Suspicious spy saga sours.U.S. intelligence agents, lured by the possibility of recovering hacking tools stolen from the NSA,paid a Russian intermediaryan installment of $100,000 for the alleged cyber weapons last year. Furthernegotiations fell throughafter the Russian source delivered only materials already made public by the “shadow brokers,” a mysterious group that first started leaking the NSA attack code in 2016, and as the source continued to push unverifiable, allegedly compromising materials related to President Donald Trump. Intern infiltrates iPhone internals.Apple forced the code-sharing website Github to take down a post containing leaked source code for the iPhone’s boot process this week, asMotherboard first reported. Apparently, the code escaped Apple headquarters when a lowlyintern absconded with the filesand shared them with friends in the “jailbreaking” hacker community. Banks ban Bitcoin buys.Credit card issuers areforbidding cryptocurrency purchases on creditin an effort to reducefinancial and legal risks. Firms that have recently blacklisted Bitcoin sellers include Bank of America, J.P. Morgan Chase, Citigroup, Capital One, Discover, andLloyds. Hey, you using that nuclear supercomputer? Mind if Iborrow it for something? Share today’s Data Sheet with a friend: http://fortune.com/newsletter/datasheet/ Looking for previous Data Sheets? Clickhere. “If we lived in a dystopian world without trust, Bitcoin might dominate existing payment methods. But in this world, where people do tend to trust financial institutions to handle payments and central banks to maintain the value of money it seems unlikely that bitcoin could ever be as convenient as existing payment means.” —Antoine Martin, an economist at the Federal Reserve Bank of New York, penned an op-ed thattakes a whack at Bitcoin. He said the cryptocurrency could be useful—just not in this universe.But then, that’s what a Fed bankerwouldsay… Meanwhile, Tyler Winklevoss told CNBC that people who fail to see Bitcoin’s potential suffer a “failure of imagination.” Forget the Stock Market. Investors Are Trading in Gold for Bitcoin,by Lucinda Shen Hackers Could Crack Millions of Samsung and Roku Smart TVs,by Jonathan Vanian This Company Wants to Sequence Your Genome, Put It On a Blockchain—And Pay You For It,by Sy Mukherjee Litecoin Is Now a Surprise Favorite of Criminals Tired of Bitcoin,by Jeff John Roberts How the NYPD Is Using Apple iPhones to Fight Crime in New York City,by Don Reisinger Reddit’s Alexis Ohanian Thinks Software Will Dominate Venture Capital,by Polina Marinova Ripple-Powered Mobile Payments to Debut at Santander,by David Z. Morris These Charts Show How Security Pros Are Rising in the Corporate Ranks,by Robert Hackett Two Men Charged With ‘Jackpotting’ ATM Machines in New England,by Hallie Detrick North Korean Hackers May Have Stolen $530 Million From a Japanese Cryptocurrency Exchange,by Laignee Barron Inside the “smart” home panopticon.If you’re interested in living in a “smart” home—an abode outfitted with hi-tech, Internet-connected gadgetry—you should first understand the extent to which everyday household items will spy on you. ThisGizmodo investigationdetails, in an entertaining firsthand account, the many ways that connected TVs, security cameras, coffee makers, mattress covers, and more mundane objects invade people’s privacy. Add to that the micro-aggravations of dealing with buggy domestic devices and you’ll be left wondering how this stuff ever came to be called “smart.” \|\| This New Marijuana Survey Tells You Everything You Need to Know About Public Sentiment: There's a good reason why the marijuana industry is known as the green rush -- it has growers, distributors, retailers, and most importantly, investors seeing plenty of green. According to a 2017 report from Marijuana Business Daily entitled "Marijuana Business Factbook 2017," legal U.S. pot sales are expected to grow by a whopping 45% in 2018, mainly on account of California opening its doors to recreational weed sales. As an aggregate, Marijuana Business Daily 's report estimates a quadrupling in legal U.S. sales between 2016 and 2021, to about $17 billion. That pace of growth is hard for investors to overlook, which is a big reason why pot stocks have soared over the trailing year. A man smelling the leaves of a potted cannabis plant. Image source: Getty Images. This new poll tells you everything you need to know about marijuana in the U.S. The most telling aspect of the cannabis industry's rise has been the ongoing shift of how marijuana is viewed by the American public. Just a few days ago, Fox News released its latest survey detailing Americans' favorability and opposition to the idea of legalizing marijuana. Between 2013 and 2015, favorability had increased modestly, with 46%, 50%, and 51% favoring legalization in 2013, 2014, and 2015, respectively. However, in the January 2018 poll, which was conducted by Anderson Robbins Research and Shaw & Company Research on behalf of Fox News, an all-time record 59% of the 1,002 respondents favored legalizing weed. Opposition to legalization also hit an all-time low since the question was first posed to the public by Fox News in 2013. After 49% of the public opposed legalization in 2013, just 32% now oppose the idea of legalizing marijuana. Age certainly played a role, with millennials being the most likely to favor legalization, at 72%. Meanwhile, Gen Xers and baby boomers showed more modest support, at 60% and 52% respective favorability. Political affiliation mattered, too. Those respondents who identified as Democrats or Independents strongly favored legalization, with 68% and 67%, respectively, supporting the idea. By comparison, people who identified as Republican were deadlocked 46% in favor and 46% opposed. Some 61% who described themselves as "very conservative voters" opposed the idea of legalizing pot. Story continues Yet, here's what's really interesting about the opposition data: It's improving. Back in 2015, 59% of Republicans collectively opposed the legalization of cannabis, whereas just 46% do now. Likewise, 75% of "very conservative voters" opposed the idea of legalizing weed in 2013, meaning this opposition is down by 14 percentage points in just five years. A person cupping cannabis leaves in their hands. Image source: Getty Images. That's now five polls with one clear consensus The Fox News poll also aligns with four previous national polls that have been undertaken since April 2017. All of those polls have led to one clear consensus among the American public: They'd like recreational and medical pot legalized. Gallup, perhaps the best-known national pollster, found in October 2017 that 64% of respondents favored legalization. Comparatively, that's up from just 25% who favored the idea of legalization back in 1995, the year before medical cannabis was legalized in California. Additionally, Gallup's survey showed a slight favorability toward legalization for Republicans for the first time ever. Similar favorability has been seen with the CBS News survey, Pew Research Center poll, and independent Quinnipiac University survey. A respective 61% of respondents across all three surveys favored legalization, even with the question worded differently in all three polls. It's worth noting that Quinnipiac's survey questioned respondents on medical marijuana, too. Its August 2017 poll found 94% of them support legalization and just 4% are opposed the idea. A book on federal and state marijuana laws next to a gavel. Image source: Getty Images. Opinions won't move the needle with this administration Unfortunately, opinions aren't going to be enough to change pot's schedule in the United States. Currently a schedule I drug, cannabis is recognized as a wholly illegal substance with a higher potential for abuse and no recognized medical benefits. What's more, its classification as a schedule I substance is making life difficult for pot businesses, even in states that have legalized marijuana in some capacity. Medical researchers looking to get benefit-versus-risk studies underway are buried under red tape. Meanwhile, cannabis businesses are unable to take normal corporate income-tax deductions, and they have little or no access to basic banking services. This even includes something as simple as a checking account, in most instances. Making matters worse, Attorney General Jeff Sessions is waging an all-out war on the marijuana industry. Long known as an opponent of pot, Sessions announced on Jan. 4, 2018 that he'd be rescinding the Cole memo . This memo was a loose set of "rules" created by former Deputy Attorney General James Cole under the Obama administration that legalizing states would follow to keep the federal government off their backs. This included keeping adolescents away from marijuana and ensuring that weed grown within a state stayed in that state. Rescinding this memo opens the door for state-level prosecutors to use their judgment in bringing pot charges against people or businesses, even in legal states. As long as Sessions is the Attorney General, little progress will be made on the cannabis front in the United States. Dried cannabis buds atop miniature Canadian flags, and next to a piece of paper with the word yes written on it. Image source: Getty Images. Investors should look elsewhere Truth be told, the U.S. could very well be the most lucrative cannabis market in the world... if it were legal. Cowen & Co. has suggested that the U.S. legal weed market could be worth $50 billion by 2026, depending on its scheduling. However, that legalization could be years off -- if it ever occurs. If you're an investor, you shouldn't be lured in by a clearly challenged U.S. market. Instead, marijuana stock investors would be wise to focus on the Canadian cannabis industry . Canada legalized medical weed back in 2001, and its medical industry has been expanding at a double-digit percentage pace, thanks to the oversight of Health Canada. The Canadian parliament is also currently reviewing a bill introduced by Prime Minister Justin Trudeau in April 2017 that could legalize recreational cannabis by July 2018. This would allow Canada to become the first developed country in the world to legalize adult-use pot. If approved, Canada's growers could see $5 billion in added annual revenue once fully ramped up. While there are a number of intriguing marijuana stocks to consider, MedReleaf (NASDAQOTH: MEDFF) is the perfect example of a pot stock worth digging into. Having gone public less than a year ago, MedReleaf has used its initial public offering proceeds and a recent bought-deal offering to grow its capacity at its Bradford, Ontario facility. Not only will the company benefit from growing demand if recreational weed is legalized, but as a major producer of cannabis oils , a pricier and higher margin product than dried cannabis, the company will be able to make more money on an equivalent amount of sales, relative to its peers. As the marijuana industry expands, Canada appears to have the blueprint for success. More From The Motley Fool 3 Growth Stocks at Deep-Value Prices 5 Expected Social Security Changes in 2018 6 Years Later, 6 Charts That Show How Far Apple, Inc. Has Come Since Steve Jobs' Passing 10 Best Stocks to Buy Today The $16,122 Social Security Bonus You Cannot Afford to Miss Bitcoin's Biggest Competitor Isn't Ethereum -- It's This Sean Williams has no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy . \|\| This New Marijuana Survey Tells You Everything You Need to Know About Public Sentiment: There's a good reason why the marijuana industry is known as the green rush -- it has growers, distributors, retailers, and most importantly, investors seeing plenty of green. According to a 2017 report fromMarijuana Business Dailyentitled "Marijuana Business Factbook 2017," legal U.S. pot sales are expected to grow by a whopping 45% in 2018, mainly on account of California opening its doors to recreational weed sales. As an aggregate,Marijuana Business Daily's report estimates a quadrupling in legal U.S. sales between 2016 and 2021, to about $17 billion. That pace of growth is hard for investors to overlook, which is a big reason why pot stocks have soared over the trailing year. Image source: Getty Images. The most telling aspect of the cannabis industry's rise has been the ongoing shift of how marijuana is viewed by the American public. Just a few days ago, Fox Newsreleasedits latest survey detailing Americans' favorability and opposition to the idea of legalizing marijuana. Between 2013 and 2015, favorability had increased modestly, with 46%, 50%, and 51% favoring legalization in 2013, 2014, and 2015, respectively. However, in the January 2018 poll, which was conducted by Anderson Robbins Research and Shaw & Company Research on behalf of Fox News, an all-time record 59% of the 1,002 respondents favored legalizing weed. Opposition to legalization also hit an all-time low since the question was first posed to the public by Fox News in 2013. After 49% of the public opposed legalization in 2013, just 32% now oppose the idea of legalizing marijuana. Age certainly played a role, with millennials being the most likely to favor legalization, at 72%. Meanwhile, Gen Xers and baby boomers showed more modest support, at 60% and 52% respective favorability. Political affiliation mattered, too. Those respondents who identified as Democrats or Independents strongly favored legalization, with 68% and 67%, respectively, supporting the idea. By comparison, people who identified as Republican were deadlocked 46% in favor and 46% opposed. Some 61% who described themselves as "very conservative voters" opposed the idea of legalizing pot. Yet, here's what's really interesting about the opposition data: It's improving. Back in 2015, 59% of Republicans collectively opposed the legalization of cannabis, whereas just 46% do now. Likewise, 75% of "very conservative voters" opposed the idea of legalizing weed in 2013, meaning this opposition is down by 14 percentage points in just five years. Image source: Getty Images. The Fox News poll also aligns withfour previous national pollsthat have been undertaken since April 2017. All of those polls have led to one clear consensus among the American public: They'd like recreational and medical pot legalized. Gallup, perhaps the best-known national pollster, found in October 2017 that 64% of respondents favored legalization. Comparatively, that's up from just 25% who favored the idea of legalization back in 1995, the year before medical cannabis was legalized in California. Additionally, Gallup's survey showed a slight favorability toward legalization for Republicans for the first time ever. Similar favorability has been seen with the CBS News survey, Pew Research Center poll, and independent Quinnipiac University survey. A respective 61% of respondents across all three surveys favored legalization, even with the question worded differently in all three polls. It's worth noting that Quinnipiac's survey questioned respondents on medical marijuana, too. Its August 2017 poll found 94% of them support legalization and just 4% are opposed the idea. Image source: Getty Images. Unfortunately, opinions aren't going to be enough to change pot's schedule in the United States. Currently a schedule I drug, cannabis is recognized as a wholly illegal substance with a higher potential for abuse and no recognized medical benefits. What's more, its classification as a schedule I substance is making life difficult for pot businesses, even in states that have legalized marijuana in some capacity. Medical researchers looking to get benefit-versus-risk studies underway are buried under red tape. Meanwhile, cannabis businesses are unable to take normal corporate income-tax deductions, and they have little or no access to basic banking services. This even includes something as simple as a checking account, in most instances. Making matters worse, Attorney General Jeff Sessions is waging an all-out war on the marijuana industry. Long known as an opponent of pot, Sessions announced on Jan. 4, 2018 that he'd berescinding the Cole memo. This memo was a loose set of "rules" created by former Deputy Attorney General James Cole under the Obama administration that legalizing states would follow to keep the federal government off their backs. This included keeping adolescents away from marijuana and ensuring that weed grown within a state stayed in that state. Rescinding this memo opens the door for state-level prosecutors to use their judgment in bringing pot charges against people or businesses, even in legal states. As long as Sessions is the Attorney General, little progress will be made on the cannabis front in the United States. Image source: Getty Images. Truth be told, the U.S. could very well be the most lucrative cannabis market in the world... if it were legal. Cowen & Co. has suggested that the U.S. legal weed market could be worth $50 billion by 2026, depending on its scheduling. However, that legalization could be years off -- if it ever occurs. If you're an investor, you shouldn't be lured in by a clearly challenged U.S. market. Instead, marijuana stock investors would be wise tofocus on the Canadian cannabis industry. Canada legalized medical weed back in 2001, and its medical industry has been expanding at a double-digit percentage pace, thanks to the oversight of Health Canada. The Canadian parliament is also currently reviewing a bill introduced by Prime Minister Justin Trudeau in April 2017 that could legalize recreational cannabis by July 2018. This would allow Canada to become the first developed country in the world to legalize adult-use pot. If approved, Canada's growers could see $5 billion in added annual revenue once fully ramped up. While there are a number of intriguing marijuana stocks to consider,MedReleaf(NASDAQOTH: MEDFF)is the perfect example of a pot stock worth digging into. Having gone public less than a year ago, MedReleaf has used its initial public offering proceeds and a recent bought-deal offering to grow its capacity at its Bradford, Ontario facility. Not only will the company benefit from growing demand if recreational weed is legalized, but as amajor producer of cannabis oils, a pricier and higher margin product than dried cannabis, the company will be able to make more money on an equivalent amount of sales, relative to its peers. As the marijuana industry expands, Canada appears to have the blueprint for success. More From The Motley Fool • 3 Growth Stocks at Deep-Value Prices • 5 Expected Social Security Changes in 2018 • 6 Years Later, 6 Charts That Show How Far Apple, Inc. Has Come Since Steve Jobs' Passing • 10 Best Stocks to Buy Today • The $16,122 Social Security Bonus You Cannot Afford to Miss • Bitcoin's Biggest Competitor Isn't Ethereum -- It's This Sean Williamshas no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has adisclosure policy. \|\| PayPal Continues to Execute but Gets Put on Notice: For a while, it seemedPayPal Holdings, Inc.(NASDAQ: PYPL)could do no wrong. The digital payments company has been enjoying an impressive run, with its shares more than doublingover the last year. PayPal reported its financial results after the market closed on Wednesday, exceeding analysts' expectations on both the top and bottom lines. Unfortunately, the forecast it provided for the coming year was not as robust as investors had hoped, causing the stock to fall after closing near all-time highs. In addition, an announcement by longtime partnereBay(NASDAQ: EBAY)took investors by surprise, causing the sell-off to accelerate. eBay's announcement overshadowed PayPal's impressive earnings. Image source: PayPal. For the just completed fourth quarter, PayPal's revenue grew to $3.74 billion, an increase of 26% year over year, and also 26% on a constant currency basis. This showing exceeded the high end of the company's forecast in a range of $3.57 billion to $3.63 billion, while beating analysts' consensus estimates of $3.63 billion. PayPal reported net income of $620 million, which grew 59% over the prior-year quarter, though those results were skewed by several one-time adjustments. GAAP earnings per diluted share grew 57% to $0.50, which adjusted for one-time gains and costs would have been $0.55 per share, beating analysts' expectations of $0.52 per share. PayPal had two one-time items that affected its results. During the quarter, PayPal agreed to sell $5.8 billion in consumer loans toSynchrony Financial(NYSE: SYF). Revaluing this transaction because of the proposed sale resulted in an increase of $0.25 to its GAAP earnings per share. The recently enacted tax legislation also complicated matters, resulting in a one-time tax charge of $180 million, which reduced GAAP earnings per share by $0.15. PayPal continued to scale its user base, adding 8.7 million active customer accounts during the quarter, up 61% year over year, and growing to 227 million. PayPal's payments continued their impressive growth, up 25% year over year to 2.2 billion transactions. Customer engagement also grew, increasing to 33.6 transactions per active customer account over the trailing-12-month period, up 8% over the prior year. The company processed $131 billion in total payment volume (TPV), up 32% year over year, or 29% on a currency-neutral basis. Mobile engagement continued to climb, as approximately 37% of TPV, or $48 billion, originated on mobile devices, up 53% year over year. Person-to-person (P2P) payment volume accelerated to $27 billion, up 50% year over year and accounting for a full 20% of TPV in the fourth quarter. Venmo, PayPal's P2P social payments platform, processed $10.4 billion during the quarter, an 86% year-over-year increase, and surpassing $10 billion in quarterly payments for the first time. The company reviewed several noteworthy events that transpired during the quarter. The previously mentioned sale of $5.8 billion in consumer loans to Synchrony Financial is subject to regulatory approval and is expected to close in the third quarter of 2018. PayPal launched domestic operations in India, after offering cross-border payments for nearly a decade. The market presents a large opportunity for the company, as 60% of all e-commerce orders in the country are paid cash-on-delivery. The big news didn't come from PayPal, however, but from longtime partner eBay, which announced it would begin to "intermediate" the payments on its platform with the help of PayPal competitor Adyen. PayPal will remain a payment option on eBay's marketplace until July 2023, but Adyen will begin processing transactions for eBay in North America this year and will be handling the majority of the company's payments by 2021. Transactions from eBay represented 13% of PayPal's TPV for the quarter, down from 16% in the prior-year quarter, and has been a declining part of PayPal's total business. PayPal CEO Dan Schulman played down the situation, saying the loss of eBay's business would be "quite manageable." For the first quarter of 2018, PayPal expects to grow revenue in a range between $3.58 billion and $3.63 billion, producing GAAP earnings between $0.41 and $0.43 per share. While the pending break with eBay may present some short-term challenges, PayPal's impressive growth will more than make up for the declining business its former parent represents. PayPal has shown that it can deliver the goods, and any immediate decline in the share price appears to be a buying opportunity. More From The Motley Fool • 3 Growth Stocks at Deep-Value Prices • 5 Expected Social Security Changes in 2018 • 6 Years Later, 6 Charts That Show How Far Apple, Inc. Has Come Since Steve Jobs' Passing • 10 Best Stocks to Buy Today • The $16,122 Social Security Bonus You Cannot Afford to Miss • Bitcoin's Biggest Competitor Isn't Ethereum -- It's This Danny Venaowns shares of PayPal Holdings and has the following options: long January 2019 $18 calls on eBay and short April 2018 $35 calls on eBay. The Motley Fool owns shares of and recommends eBay and PayPal Holdings. The Motley Fool recommends Synchrony Financial. The Motley Fool has adisclosure policy. \|\| PayPal Continues to Execute but Gets Put on Notice: For a while, it seemed PayPal Holdings, Inc. (NASDAQ: PYPL) could do no wrong. The digital payments company has been enjoying an impressive run, with its shares more than doubling over the last year . PayPal reported its financial results after the market closed on Wednesday, exceeding analysts' expectations on both the top and bottom lines. Unfortunately, the forecast it provided for the coming year was not as robust as investors had hoped, causing the stock to fall after closing near all-time highs. In addition, an announcement by longtime partner eBay (NASDAQ: EBAY) took investors by surprise, causing the sell-off to accelerate. PayPal logo outside its HQ building. eBay's announcement overshadowed PayPal's impressive earnings. Image source: PayPal. Impressive growth continues For the just completed fourth quarter, PayPal's revenue grew to $3.74 billion, an increase of 26% year over year, and also 26% on a constant currency basis. This showing exceeded the high end of the company's forecast in a range of $3.57 billion to $3.63 billion, while beating analysts' consensus estimates of $3.63 billion. PayPal reported net income of $620 million, which grew 59% over the prior-year quarter, though those results were skewed by several one-time adjustments. GAAP earnings per diluted share grew 57% to $0.50, which adjusted for one-time gains and costs would have been $0.55 per share, beating analysts' expectations of $0.52 per share. PayPal had two one-time items that affected its results. During the quarter, PayPal agreed to sell $5.8 billion in consumer loans to Synchrony Financial (NYSE: SYF) . Revaluing this transaction because of the proposed sale resulted in an increase of $0.25 to its GAAP earnings per share. The recently enacted tax legislation also complicated matters, resulting in a one-time tax charge of $180 million, which reduced GAAP earnings per share by $0.15. Increasing user base PayPal continued to scale its user base, adding 8.7 million active customer accounts during the quarter, up 61% year over year, and growing to 227 million. Story continues PayPal's payments continued their impressive growth, up 25% year over year to 2.2 billion transactions. Customer engagement also grew, increasing to 33.6 transactions per active customer account over the trailing-12-month period, up 8% over the prior year. The company processed $131 billion in total payment volume (TPV), up 32% year over year, or 29% on a currency-neutral basis. Mobile engagement continued to climb, as approximately 37% of TPV, or $48 billion, originated on mobile devices, up 53% year over year. Person-to-person (P2P) payment volume accelerated to $27 billion, up 50% year over year and accounting for a full 20% of TPV in the fourth quarter. Venmo, PayPal's P2P social payments platform, processed $10.4 billion during the quarter, an 86% year-over-year increase, and surpassing $10 billion in quarterly payments for the first time. Continued expansion, but a loss... The company reviewed several noteworthy events that transpired during the quarter. The previously mentioned sale of $5.8 billion in consumer loans to Synchrony Financial is subject to regulatory approval and is expected to close in the third quarter of 2018. PayPal launched domestic operations in India, after offering cross-border payments for nearly a decade. The market presents a large opportunity for the company, as 60% of all e-commerce orders in the country are paid cash-on-delivery. The big news didn't come from PayPal, however, but from longtime partner eBay, which announced it would begin to "intermediate" the payments on its platform with the help of PayPal competitor Adyen. PayPal will remain a payment option on eBay's marketplace until July 2023, but Adyen will begin processing transactions for eBay in North America this year and will be handling the majority of the company's payments by 2021. Transactions from eBay represented 13% of PayPal's TPV for the quarter, down from 16% in the prior-year quarter, and has been a declining part of PayPal's total business. PayPal CEO Dan Schulman played down the situation, saying the loss of eBay's business would be "quite manageable." Looking to the future For the first quarter of 2018, PayPal expects to grow revenue in a range between $3.58 billion and $3.63 billion, producing GAAP earnings between $0.41 and $0.43 per share. While the pending break with eBay may present some short-term challenges, PayPal's impressive growth will more than make up for the declining business its former parent represents. PayPal has shown that it can deliver the goods, and any immediate decline in the share price appears to be a buying opportunity. More From The Motley Fool 3 Growth Stocks at Deep-Value Prices 5 Expected Social Security Changes in 2018 6 Years Later, 6 Charts That Show How Far Apple, Inc. Has Come Since Steve Jobs' Passing 10 Best Stocks to Buy Today The $16,122 Social Security Bonus You Cannot Afford to Miss Bitcoin's Biggest Competitor Isn't Ethereum -- It's This Danny Vena owns shares of PayPal Holdings and has the following options: long January 2019 $18 calls on eBay and short April 2018 $35 calls on eBay. The Motley Fool owns shares of and recommends eBay and PayPal Holdings. The Motley Fool recommends Synchrony Financial. The Motley Fool has a disclosure policy . [Social Media Buzz] $1,750.00 Antminer L3+ 504MH/s Litecoin LTC Miner IN-HAND Ready to Ship Now! #Bitcoin #Mining #Cryptocurrency http://bit.ly/2CcM6By pic.twitter.com/3yOJrRnB9u \|\| Today's #Bitcoin price is $8299.00 #cryptocurrency #virtualmoney \|\| BTC Price: 8310.00$, BTC Today High : 8560.42$, BTC All Time High : 19903.44$ ETH Price: 838.03$ #bitcoin #BTC $BTC #ETH $ETH #cryptopic.twitter.com/wvXVDXBviy \|\| Gana $45,00 Usd Por Afiliar, Quieres ganarte dólares con Bitcoin sin tanto esfuerzo? Es solo dedicar u ··...	8926.57, 8598.31, 9494.63, 10166.40, 10233.90, 11112.70, 10551.80, 11225.30, 11403.70, 10690.40
Given the historical Bitcoin prices from the last 90 days, predict the next 10 daily closing prices. The historical prices are: 9771.49, 9795.70, 9870.09, 9321.78, 9480.84, 9475.28, 9386.79, 9450.70, 9538.02, 9480.25, 9411.84, 9288.02, 9332.34, 9303.63, 9648.72, 9629.66, 9313.61, 9264.81, 9162.92, 9045.39, 9143.58, 9190.85, 9137.99, 9228.33, 9123.41, 9087.30, 9132.49, 9073.94, 9375.47, 9252.28, 9428.33, 9277.97, 9278.81, 9240.35, 9276.50, 9243.61, 9243.21, 9192.84, 9132.23, 9151.39, 9159.04, 9185.82, 9164.23, 9374.89, 9525.36, 9581.07, 9536.89, 9677.11, 9905.17, 10990.87, 10912.82, 11100.47, 11111.21, 11323.47, 11759.59, 11053.61, 11246.35, 11205.89, 11747.02, 11779.77, 11601.47, 11754.05, 11675.74, 11878.11, 11410.53, 11584.93, 11784.14, 11768.87, 11865.70, 11892.80, 12254.40, 11991.23, 11758.28, 11878.37, 11592.49, 11681.83, 11664.85, 11774.60, 11366.13, 11488.36, 11323.40, 11542.50, 11506.87, 11711.51, 11680.82, 11970.48, 11414.03, 10245.30, 10511.81, 10169.57.	[Bitcoin Technical Analysis for 2020-09-05] Volume: 44916565292, RSI (14-day): 34.82, 50-day EMA: 11023.31, 200-day EMA: 9668.09 [Wider Market Context] None available. [Recent News (last 7 days)] US Stock Market Overview – Stock as Volatility Continues to Rise: US stocks continued to experience volatility during the first week of September. The VIX volatility index climbed to the highest level since June. Most of the focus was directed to the US jobs numbers, which continue to rebound since tumbling in March and April. The question is whether the decelerating in jobs will weigh on stocks. Large-cap tech stocks continued to fall on Friday as large bets in the options markets that tech stocks would rise were unwound. The VIX volatility index continues to climb, rising to the highest levels since June. Ahead of the jobs report, the Nasdaq was down by more than 1% which followed a 5% decline on Thursday. For the week, sectors were mixed, driven down by energy shares. Nonfarm payrolls rose by 1.37 million in August and the unemployment rate tumbled to 8.4%. The unemployment rate was by far the lowest since the coronavirus shutdown in March. Expectations were for a rise of 1.32 million jobs and the jobless rate to decline to 9.8% from 10.2% in July. Thisarticlewas originally posted on FX Empire • Natural Gas Price Prediction – Prices Rise as Weather Concerns Remain • The Weekly Wrap – A Busy Economic Calendar Delivered Support for the Greenback • Natural Gas Weekly Price Forecast – Natural Gas Markets Pull Back • Natural Gas Price Forecast – Natural Gas Markets Give Up Early Gains • EOS, Ethereum and Ripple’s XRP – Daily Tech Analysis – September 5th, 2020 • Bitcoin Down Almost 10% Today, You’ll Be Surprised to Hear What’s Next \|\| US Stock Market Overview – Stock as Volatility Continues to Rise: US stocks continued to experience volatility during the first week of September. The VIX volatility index climbed to the highest level since June. Most of the focus was directed to the US jobs numbers, which continue to rebound since tumbling in March and April. The question is whether the decelerating in jobs will weigh on stocks. Large-cap tech stocks continued to fall on Friday as large bets in the options markets that tech stocks would rise were unwound. The VIX volatility index continues to climb, rising to the highest levels since June. Ahead of the jobs report, the Nasdaq was down by more than 1% which followed a 5% decline on Thursday. For the week, sectors were mixed, driven down by energy shares. Payrolls Rise in Line with Expectations but Unemployment Rate Falls Nonfarm payrolls rose by 1.37 million in August and the unemployment rate tumbled to 8.4%. The unemployment rate was by far the lowest since the coronavirus shutdown in March. Expectations were for a rise of 1.32 million jobs and the jobless rate to decline to 9.8% from 10.2% in July. This article was originally posted on FX Empire More From FXEMPIRE: Natural Gas Price Prediction – Prices Rise as Weather Concerns Remain The Weekly Wrap – A Busy Economic Calendar Delivered Support for the Greenback Natural Gas Weekly Price Forecast – Natural Gas Markets Pull Back Natural Gas Price Forecast – Natural Gas Markets Give Up Early Gains EOS, Ethereum and Ripple’s XRP – Daily Tech Analysis – September 5th, 2020 Bitcoin Down Almost 10% Today, You’ll Be Surprised to Hear What’s Next \|\| Bitcoin Down Almost 10% Today, You’ll Be Surprised to Hear What’s Next: RESEARCH HIGHLIGHTS: • Bitcoincollapsed near Triple Fib Amplitude Arcs – is this a sign of pending reversal for other assets? • It is very likely that Bitcoin price levels will fall below the May through July levels, near $9k in an attempt to identify new support levels. The $8k level would be the next downside price target. Beyond that, possibly $7k or even $6k. • GoldandSilverwill move lower before going higher as a potential price collapse in Bitcoin suggests general market fear is hitting all global assets. • As other assets decline in valuation levels, the US Dollar will likely be viewed as the strongest currency to own and rise. Many of you are familiar with my team’s advanced study of Fibonacci Price Theory and our use of our proprietary Fibonacci Price Amplitude Arc indicators. This technical analysis theory is a combination of Nikola Tesla’s Mechanical Resonance theory and traditional Fibonacci Price Theory. We believe the innate frequency of price action (once found), can be used to identify future critical inflection points in price. In this case with Bitcoin, three unique Fibonacci Price Amplitude Arcs aligned within 5 days to present a very real price inflection point. The recent collapse in the price of Bitcoin may be inherently related to the frequency of price from past peaks and troughs using our advanced Fibonacci Price Theory. We found it interesting that Bitcoin prices stayed below $10k through most of June and July, when other Fibonacci Price Amplitude Arcs crossed price, then began to move higher after the last Price Amplitude Arc completed near July 20, 2020. After that Fibonacci Arc completed, the only Fibonacci Price Amplitude Arcs present in the future were the Triple Fibonacci Arcs shown on this Daily Bitcoin chart (below). Our team also believes that once Bitcoin cleared the previous Fibonacci Arcs, a bit of a “reprieve” took place in price where a moderate upside price rally too place. As we neared the Triple Fibonacci Arcs, price activity muted and reversed. Could it be that price reacts to frequency levels we are not seeing on the charts? The Weekly BitCoin chart, below, highlights many of the origination points (peaks and troughs) of the Fibonacci Price Amplitude Arcs. We anchor them to price peaks or troughs as a way to use and study them, measuring critical price waves (up or down) using Eclipse drawing tools, then drag them and anchor them to current or past peaks or troughs. Then we study the levels to determine if the frequency of price validity is accurate or not. If we believe we have drawn a Fibonacci Price Amplitude Arc that is valid, we’ll keep in on the chart for future reference. We believe this current Triple Fibonacci Arc pattern may be present in other symbols given how theUS stock marketshave reversed recently. It may be that these critical price inflection points operate across major indexes like tides in the ocean work across multiple ports and harbors. When a big or critical Fibonacci Price Amplitude Arc hits, we believe it results in a broad market reaction. If this breakdown in Bitcoin Continues, the $8k level would be the next downside price target. Beyond that, possibly $7k and maybe as low as $6k. We will have to see how Bitcoin reacts to this Triple Fibonacci Price Amplitude Arc and how deep price corrects at this time. It is very likely that Bitcoin price levels will fall below the May through July levels, near $9k in an attempt to identify new support levels. We also believe Gold and Silver will move lower as a price collapse in Bitcoin suggests general market fear it hitting all global assets. The US Dollar may attempt to form support as well because of this move. As other assets decline in valuation levels, some primary currency will likely be viewed as the strongest alternative asset – this will likely be the US Dollar. Eventually, after what we believe could be a moderate downtrend in Gold and Silver, precious metals will begin to move dramatically higher as foreign currency and Bitcoin prices continue to fall. Capital will always seek out the best, least risky, investment solutions at times of chaos and risk. If Bitcoin becomes highly volatile and continues to fall, then alternate assets present very real opportunities. Isn’t it time you learned how I can help you better understand technical analysis as well as find and execute better trades? If you look back at past research, you will see that my incredible team and our proprietary technical analysis tools have shown you what to expect from the markets in the future. Do you want to learn how to profit from these expected moves? If so, sign up for myActive ETF Swing Trade Signalstoday! If you have a buy-and-hold or retirement account and are looking for long-term technical signals for when to buy and sell equities, bonds, precious metals, or sit in cash then be sure to subscribe to myPassive Long-Term ETF Investing Signalsto stay ahead of the market and protect your wealth! Chris VermeulenChief Market StrategistTechnical Traders Ltd. NOTICE AND DISCLAIMER: Our free research does not constitute a trade recommendation or solicitation for our readers to take any action regarding this research. It is provided for educational purposes only. Thisarticlewas originally posted on FX Empire • European Equities: A Week in Review – 04/09/20 • Bitcoin Down Almost 10% Today, You’ll Be Surprised to Hear What’s Next • GBP/JPY Weekly Price Forecast – British Pound Gives Up Gains • Silver Weekly Price Forecast – Silver Gives Back Early Gains for the Week • Natural Gas Price Prediction – Prices Rise as Weather Concerns Remain • E-mini NASDAQ-100 Index (NQ) Futures Technical Analysis – Technical Bounce Could Lead to Test of 11803.75 \|\| Bitcoin Down Almost 10% Today, Youll Be Surprised to Hear Whats Next: RESEARCH HIGHLIGHTS: Bitcoin collapsed near Triple Fib Amplitude Arcs is this a sign of pending reversal for other assets? It is very likely that Bitcoin price levels will fall below the May through July levels, near $9k in an attempt to identify new support levels. The $8k level would be the next downside price target. Beyond that, possibly $7k or even $6k. Gold and Silver will move lower before going higher as a potential price collapse in Bitcoin suggests general market fear is hitting all global assets. As other assets decline in valuation levels, the US Dollar will likely be viewed as the strongest currency to own and rise. Many of you are familiar with my teams advanced study of Fibonacci Price Theory and our use of our proprietary Fibonacci Price Amplitude Arc indicators. This technical analysis theory is a combination of Nikola Teslas Mechanical Resonance theory and traditional Fibonacci Price Theory. We believe the innate frequency of price action (once found), can be used to identify future critical inflection points in price. In this case with Bitcoin, three unique Fibonacci Price Amplitude Arcs aligned within 5 days to present a very real price inflection point. The recent collapse in the price of Bitcoin may be inherently related to the frequency of price from past peaks and troughs using our advanced Fibonacci Price Theory. We found it interesting that Bitcoin prices stayed below $10k through most of June and July, when other Fibonacci Price Amplitude Arcs crossed price, then began to move higher after the last Price Amplitude Arc completed near July 20, 2020. After that Fibonacci Arc completed, the only Fibonacci Price Amplitude Arcs present in the future were the Triple Fibonacci Arcs shown on this Daily Bitcoin chart (below). Our team also believes that once Bitcoin cleared the previous Fibonacci Arcs, a bit of a reprieve took place in price where a moderate upside price rally too place. As we neared the Triple Fibonacci Arcs, price activity muted and reversed. Could it be that price reacts to frequency levels we are not seeing on the charts? Story continues The Weekly BitCoin chart, below, highlights many of the origination points (peaks and troughs) of the Fibonacci Price Amplitude Arcs. We anchor them to price peaks or troughs as a way to use and study them, measuring critical price waves (up or down) using Eclipse drawing tools, then drag them and anchor them to current or past peaks or troughs. Then we study the levels to determine if the frequency of price validity is accurate or not. If we believe we have drawn a Fibonacci Price Amplitude Arc that is valid, well keep in on the chart for future reference. We believe this current Triple Fibonacci Arc pattern may be present in other symbols given how the US stock markets have reversed recently. It may be that these critical price inflection points operate across major indexes like tides in the ocean work across multiple ports and harbors. When a big or critical Fibonacci Price Amplitude Arc hits, we believe it results in a broad market reaction. If this breakdown in Bitcoin Continues, the $8k level would be the next downside price target. Beyond that, possibly $7k and maybe as low as $6k. We will have to see how Bitcoin reacts to this Triple Fibonacci Price Amplitude Arc and how deep price corrects at this time. It is very likely that Bitcoin price levels will fall below the May through July levels, near $9k in an attempt to identify new support levels. We also believe Gold and Silver will move lower as a price collapse in Bitcoin suggests general market fear it hitting all global assets. The US Dollar may attempt to form support as well because of this move. As other assets decline in valuation levels, some primary currency will likely be viewed as the strongest alternative asset this will likely be the US Dollar. Eventually, after what we believe could be a moderate downtrend in Gold and Silver, precious metals will begin to move dramatically higher as foreign currency and Bitcoin prices continue to fall. Capital will always seek out the best, least risky, investment solutions at times of chaos and risk. If Bitcoin becomes highly volatile and continues to fall, then alternate assets present very real opportunities. Isnt it time you learned how I can help you better understand technical analysis as well as find and execute better trades? If you look back at past research, you will see that my incredible team and our proprietary technical analysis tools have shown you what to expect from the markets in the future. Do you want to learn how to profit from these expected moves? If so, sign up for my Active ETF Swing Trade Signals today! If you have a buy-and-hold or retirement account and are looking for long-term technical signals for when to buy and sell equities, bonds, precious metals, or sit in cash then be sure to subscribe to my Passive Long-Term ETF Investing Signals to stay ahead of the market and protect your wealth! Chris Vermeulen Chief Market Strategist Technical Traders Ltd. NOTICE AND DISCLAIMER: Our free research does not constitute a trade recommendation or solicitation for our readers to take any action regarding this research. It is provided for educational purposes only. This article was originally posted on FX Empire More From FXEMPIRE: European Equities: A Week in Review 04/09/20 Bitcoin Down Almost 10% Today, Youll Be Surprised to Hear Whats Next GBP/JPY Weekly Price Forecast British Pound Gives Up Gains Silver Weekly Price Forecast Silver Gives Back Early Gains for the Week Natural Gas Price Prediction Prices Rise as Weather Concerns Remain E-mini NASDAQ-100 Index (NQ) Futures Technical Analysis Technical Bounce Could Lead to Test of 11803.75 \|\| Bitcoin Down Almost 10% Today, You’ll Be Surprised to Hear What’s Next: RESEARCH HIGHLIGHTS: • Bitcoincollapsed near Triple Fib Amplitude Arcs – is this a sign of pending reversal for other assets? • It is very likely that Bitcoin price levels will fall below the May through July levels, near $9k in an attempt to identify new support levels. The $8k level would be the next downside price target. Beyond that, possibly $7k or even $6k. • GoldandSilverwill move lower before going higher as a potential price collapse in Bitcoin suggests general market fear is hitting all global assets. • As other assets decline in valuation levels, the US Dollar will likely be viewed as the strongest currency to own and rise. Many of you are familiar with my team’s advanced study of Fibonacci Price Theory and our use of our proprietary Fibonacci Price Amplitude Arc indicators. This technical analysis theory is a combination of Nikola Tesla’s Mechanical Resonance theory and traditional Fibonacci Price Theory. We believe the innate frequency of price action (once found), can be used to identify future critical inflection points in price. In this case with Bitcoin, three unique Fibonacci Price Amplitude Arcs aligned within 5 days to present a very real price inflection point. The recent collapse in the price of Bitcoin may be inherently related to the frequency of price from past peaks and troughs using our advanced Fibonacci Price Theory. We found it interesting that Bitcoin prices stayed below $10k through most of June and July, when other Fibonacci Price Amplitude Arcs crossed price, then began to move higher after the last Price Amplitude Arc completed near July 20, 2020. After that Fibonacci Arc completed, the only Fibonacci Price Amplitude Arcs present in the future were the Triple Fibonacci Arcs shown on this Daily Bitcoin chart (below). Our team also believes that once Bitcoin cleared the previous Fibonacci Arcs, a bit of a “reprieve” took place in price where a moderate upside price rally too place. As we neared the Triple Fibonacci Arcs, price activity muted and reversed. Could it be that price reacts to frequency levels we are not seeing on the charts? The Weekly BitCoin chart, below, highlights many of the origination points (peaks and troughs) of the Fibonacci Price Amplitude Arcs. We anchor them to price peaks or troughs as a way to use and study them, measuring critical price waves (up or down) using Eclipse drawing tools, then drag them and anchor them to current or past peaks or troughs. Then we study the levels to determine if the frequency of price validity is accurate or not. If we believe we have drawn a Fibonacci Price Amplitude Arc that is valid, we’ll keep in on the chart for future reference. We believe this current Triple Fibonacci Arc pattern may be present in other symbols given how theUS stock marketshave reversed recently. It may be that these critical price inflection points operate across major indexes like tides in the ocean work across multiple ports and harbors. When a big or critical Fibonacci Price Amplitude Arc hits, we believe it results in a broad market reaction. If this breakdown in Bitcoin Continues, the $8k level would be the next downside price target. Beyond that, possibly $7k and maybe as low as $6k. We will have to see how Bitcoin reacts to this Triple Fibonacci Price Amplitude Arc and how deep price corrects at this time. It is very likely that Bitcoin price levels will fall below the May through July levels, near $9k in an attempt to identify new support levels. We also believe Gold and Silver will move lower as a price collapse in Bitcoin suggests general market fear it hitting all global assets. The US Dollar may attempt to form support as well because of this move. As other assets decline in valuation levels, some primary currency will likely be viewed as the strongest alternative asset – this will likely be the US Dollar. Eventually, after what we believe could be a moderate downtrend in Gold and Silver, precious metals will begin to move dramatically higher as foreign currency and Bitcoin prices continue to fall. Capital will always seek out the best, least risky, investment solutions at times of chaos and risk. If Bitcoin becomes highly volatile and continues to fall, then alternate assets present very real opportunities. Isn’t it time you learned how I can help you better understand technical analysis as well as find and execute better trades? If you look back at past research, you will see that my incredible team and our proprietary technical analysis tools have shown you what to expect from the markets in the future. Do you want to learn how to profit from these expected moves? If so, sign up for myActive ETF Swing Trade Signalstoday! If you have a buy-and-hold or retirement account and are looking for long-term technical signals for when to buy and sell equities, bonds, precious metals, or sit in cash then be sure to subscribe to myPassive Long-Term ETF Investing Signalsto stay ahead of the market and protect your wealth! Chris VermeulenChief Market StrategistTechnical Traders Ltd. NOTICE AND DISCLAIMER: Our free research does not constitute a trade recommendation or solicitation for our readers to take any action regarding this research. It is provided for educational purposes only. Thisarticlewas originally posted on FX Empire • European Equities: A Week in Review – 04/09/20 • Bitcoin Down Almost 10% Today, You’ll Be Surprised to Hear What’s Next • GBP/JPY Weekly Price Forecast – British Pound Gives Up Gains • Silver Weekly Price Forecast – Silver Gives Back Early Gains for the Week • Natural Gas Price Prediction – Prices Rise as Weather Concerns Remain • E-mini NASDAQ-100 Index (NQ) Futures Technical Analysis – Technical Bounce Could Lead to Test of 11803.75 \|\| Square, BitGo, And Cyclebit: The State Of Crypto Payments: The following is a contributed article from a content partner of Benzinga Discussions surrounding cryptocurrency payment platforms have captured the attention of investors worldwide, specifically on whether digital currencies are useful in the retail sector. For instance, the growth and widespread adoption of ‘stable-coins’ has nudged 20,000 merchants to accept crypto payments. The list of parties interested in crypto-transactions, however, is not merely limited to small businesses; we have seen that corporations like Microsoft, Overstock, Namecheap, Starbucks, Whole Foods, CheapAir, Travala, and Expedia have all shifted their attention. The $250 Billion crypto payment market, though broad, can be best understood by examining three major categories:P2P Retail Payments, Crypto Custody, and Merchant Plugin and Gateways. Square’s Cash App -A Leader In P2P Crypto Retail Payments Since January, the stock market value ofSquare, Inc.(NYSE:SQ) has risen in value by 148%; last year alone, the stock grew by 137%. As claimed by analysts, one should anticipate that if Square’s Cash App continues to perform, its SQ stock price could increase by 400% within 4 to 5 years, matching the capitalization of companies like PayPal. Undoubtedly, the firm has garnered the interest of investors. Most importantly, however, it has demonstrated an ability to generate profit, as evidenced by its Q2 earnings report for 2020, which revealed that Cash App’s gross profit grew by 167%, totalling to $281 million. One explanation for CashApp’s popularity may be attributed to Bitcoin, as the platform allows its users to buy, sell, and transfer it. This is especially significant, as it has been consistently demonstrated that younger users’ favour this means of payment. As a result, Square’s Bitcoin gross profit jumped by 711%. The list of features offered by Cash App goes on. One new idea currently under pilot testing would allow members of its ‘Cash App P2P Payments’ service to obtain small, short-term loans. 1000 users were offered such loans, ranging from $20 - $200, to be paid back within four weeks at a 5% flat interest rate. Whether successful or not, this attempt to explore possibilities by Square is an indicator of its willingness to expand their business model. Offering small loans is expected to broaden Cash App’s lending efforts, and could eventually become a more complete financial payment solution when compared to PayPal. As such, Square Capital, the firm's lending arm, has been able to support merchants with micro-finance schemes for years, and is even approved to operate as a bank. Just as important to analyse, however, are Cash App’s competitors. For instance, Coinbase offers its members the ability to borrow cash against their Bitcoin holdings, and is preparing an IPO to launch a waitlist for customers. Users will be able to borrow up to 30% of $20,000 of their Bitcoin holdings at an 8% APR, which is less competitive than the majority of competing crypto lending solutions. Yet given US regulatory limitations, this solution is expected to receive a lot of adoption, since there will be no special applications or credit checks required. Other key competitors like Venmo and Zelle have furthered their respective lending programs, suggesting that they too see the potential of P2P payment platforms. Yet the main difference between Cash App and its competitors lies in its Bitcoin transactions and growing lending schemes. BitGo -Institutional Digital Asset Custody Firm BitGo operates in the crypto-sector as a security and digital-asset trust firm. Showing its intent to compete, they have recently announced the acquisition of “Excess Specie Insurance”, enabling users to purchase their own dedicated excess limits above BitGo’s $100 million insurance policy, ensuring an additional layer of protection to crypto holdings. Until recently, BitGo was covering up to $100 million worth of digital assets held in their accounts with the security firms, but is now backed by investors such as Goldman Sachs and Galaxy Digital Ventures. One distinctive feature offered by BitGo is ‘Wrapped Bitcoin’, an ERC-20 token with a 1-1 peg to Bitcoin. It currently secures 46,000 BTC, worth more than $500 million through custodial patchwork. Yet the Palo Alto-based company hasn’t stopped there; its product portfolio has expanded to offer institutional digital asset lending services. BitGo is currently lendingBitcoin(BTC),Ether(ETH),Litecoin(LTC) and stablecoins. In its most recent endeavour, BitGo has applied to become a qualified crypto custodian in New York State. As such, they expect “a dramatic increase in market demand for its products and services from banks, pension funds, hedge funds and other fiduciaries”, according to an announcement published on August 25th. Yet another area of growth within the industry are gateway platforms that enable merchants to accept cryptocurrency payments in exchange for their services. Cyclebit;Accelerating Crypto Payment Solutions For Merchants Cyclebit is a new firm that differentiates itself by offering zero-fee tools to retailers, allowing them to accept cryptocurrencies for in-store, online, and on-the-go purchases. Cyclebit hosts 20 of the most popular cryptocurrencies, connecting merchants to a broader customer base. The company is currently processing 1 million transactions a month, featuring a $1 billion annual turnover. Cyclebitis one of the largest mPOS and e-commerce software providers in Eastern Europe, with a range of solutions being used by the largest insurance, logistics and retail businesses in Canada, USA, Thailand, Vietnam, Japan and Europe. Among the company's clients are online marketplaces, insurance and logistics companies like Ozon, Lamoda, Delivery Club, Pony Express, and DPD. Included in its product suite is ‘Cycle-Online’, an innovative e-commerce solution for processing online crypto payments. This allows users to accept crypto payments anywhere in the world with full protection against volatility, chargebacks, and ID theft. Another solution is the tap2go application, designed to allow any Android smartphone with an NFC module to act as a terminal for receiving contactless payments. The app complies with PCI DSS Level 1 security standards, and thus has immense potential on CIS markets like Russia, where payments using Google Pay, Apple Pay and Samsung Pay now make up almost 80% of all contactless transactions. Despite the many benefits of crypto payments for merchants and consumers, including limited fees, improved privacy, and diminished reliance on centralized authorities, there remain barriers to overcome. Taxation or liquidity barriers for smaller-cap crypto projects are but two examples. What remains clear, however, is the enormous potential of the industry available for the players who enter first. For now, analysts wait in anticipation to see who will succeed. See more from Benzinga • Level01 On Why DeFi Is Here To Stay • Is Dash Price On The Verge Of A Bull Break? Golden Cross And 3 Key Indicators Suggest As Much • The 5 Hottest DeFi Projects To Watch In Asia © 2020 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. \|\| Square, BitGo, And Cyclebit: The State Of Crypto Payments: The following is a contributed article from a content partner of Benzinga Discussions surrounding cryptocurrency payment platforms have captured the attention of investors worldwide, specifically on whether digital currencies are useful in the retail sector. For instance, the growth and widespread adoption of stable-coins has nudged 20,000 merchants to accept crypto payments. The list of parties interested in crypto-transactions, however, is not merely limited to small businesses; we have seen that corporations like Microsoft, Overstock, Namecheap, Starbucks, Whole Foods, CheapAir, Travala, and Expedia have all shifted their attention. The $250 Billion crypto payment market, though broad, can be best understood by examining three major categories: P2P Retail Payments, Crypto Custody, and Merchant Plugin and Gateways. Squares Cash App - A Leader In P2P Crypto Retail Payments Since January, the stock market value of Square, Inc. (NYSE: SQ ) has risen in value by 148%; last year alone, the stock grew by 137%. As claimed by analysts, one should anticipate that if Squares Cash App continues to perform, its SQ stock price could increase by 400% within 4 to 5 years, matching the capitalization of companies like PayPal. Undoubtedly, the firm has garnered the interest of investors. Most importantly, however, it has demonstrated an ability to generate profit, as evidenced by its Q2 earnings report for 2020, which revealed that Cash Apps gross profit grew by 167%, totalling to $281 million. One explanation for CashApps popularity may be attributed to Bitcoin, as the platform allows its users to buy, sell, and transfer it. This is especially significant, as it has been consistently demonstrated that younger users favour this means of payment. As a result, Squares Bitcoin gross profit jumped by 711%. The list of features offered by Cash App goes on. One new idea currently under pilot testing would allow members of its Cash App P2P Payments service to obtain small, short-term loans. 1000 users were offered such loans, ranging from $20 - $200, to be paid back within four weeks at a 5% flat interest rate. Whether successful or not, this attempt to explore possibilities by Square is an indicator of its willingness to expand their business model. Story continues Offering small loans is expected to broaden Cash Apps lending efforts, and could eventually become a more complete financial payment solution when compared to PayPal. As such, Square Capital, the firm's lending arm, has been able to support merchants with micro-finance schemes for years, and is even approved to operate as a bank. Just as important to analyse, however, are Cash Apps competitors. For instance, Coinbase offers its members the ability to borrow cash against their Bitcoin holdings, and is preparing an IPO to launch a waitlist for customers. Users will be able to borrow up to 30% of $20,000 of their Bitcoin holdings at an 8% APR, which is less competitive than the majority of competing crypto lending solutions. Yet given US regulatory limitations, this solution is expected to receive a lot of adoption, since there will be no special applications or credit checks required. Other key competitors like Venmo and Zelle have furthered their respective lending programs, suggesting that they too see the potential of P2P payment platforms. Yet the main difference between Cash App and its competitors lies in its Bitcoin transactions and growing lending schemes. BitGo - Institutional Digital Asset Custody Firm BitGo operates in the crypto-sector as a security and digital-asset trust firm. Showing its intent to compete, they have recently announced the acquisition of Excess Specie Insurance, enabling users to purchase their own dedicated excess limits above BitGos $100 million insurance policy, ensuring an additional layer of protection to crypto holdings. Until recently, BitGo was covering up to $100 million worth of digital assets held in their accounts with the security firms, but is now backed by investors such as Goldman Sachs and Galaxy Digital Ventures. One distinctive feature offered by BitGo is Wrapped Bitcoin, an ERC-20 token with a 1-1 peg to Bitcoin. It currently secures 46,000 BTC, worth more than $500 million through custodial patchwork. Yet the Palo Alto-based company hasnt stopped there; its product portfolio has expanded to offer institutional digital asset lending services. BitGo is currently lending Bitcoin (BTC), Ether (ETH), Litecoin (LTC) and stablecoins. In its most recent endeavour, BitGo has applied to become a qualified crypto custodian in New York State. As such, they expect a dramatic increase in market demand for its products and services from banks, pension funds, hedge funds and other fiduciaries, according to an announcement published on August 25th. Yet another area of growth within the industry are gateway platforms that enable merchants to accept cryptocurrency payments in exchange for their services. Cyclebit; Accelerating Crypto Payment Solutions For Merchants Cyclebit is a new firm that differentiates itself by offering zero-fee tools to retailers, allowing them to accept cryptocurrencies for in-store, online, and on-the-go purchases. Cyclebit hosts 20 of the most popular cryptocurrencies, connecting merchants to a broader customer base. The company is currently processing 1 million transactions a month, featuring a $1 billion annual turnover. Cyclebit is one of the largest mPOS and e-commerce software providers in Eastern Europe, with a range of solutions being used by the largest insurance, logistics and retail businesses in Canada, USA, Thailand, Vietnam, Japan and Europe. Among the company's clients are online marketplaces, insurance and logistics companies like Ozon, Lamoda, Delivery Club, Pony Express, and DPD. Included in its product suite is Cycle-Online, an innovative e-commerce solution for processing online crypto payments. This allows users to accept crypto payments anywhere in the world with full protection against volatility, chargebacks, and ID theft. Another solution is the tap2go application, designed to allow any Android smartphone with an NFC module to act as a terminal for receiving contactless payments. The app complies with PCI DSS Level 1 security standards, and thus has immense potential on CIS markets like Russia, where payments using Google Pay, Apple Pay and Samsung Pay now make up almost 80% of all contactless transactions. Despite the many benefits of crypto payments for merchants and consumers, including limited fees, improved privacy, and diminished reliance on centralized authorities, there remain barriers to overcome. Taxation or liquidity barriers for smaller-cap crypto projects are but two examples. What remains clear, however, is the enormous potential of the industry available for the players who enter first. For now, analysts wait in anticipation to see who will succeed. See more from Benzinga Level01 On Why DeFi Is Here To Stay Is Dash Price On The Verge Of A Bull Break? Golden Cross And 3 Key Indicators Suggest As Much The 5 Hottest DeFi Projects To Watch In Asia © 2020 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. \|\| S&P 500 Weekly Price Forecast – Stock Markets Pullback to Recent Break Out: TheS&P 500has rallied a bit to reach towards the 3600 level before getting absently hammered on Thursday and Friday. At this point in time, the market looks as if it is trying to find its footing, and I think that it is only a matter of time before we do find those buyers. At this point, I think that there is massive support between here and the 3200 level, which I think is the short term bottom. However, it is also possible that we go sideways in the short term, as the market has seen a bit of an over exuberance when it comes to buying, and now it is likely that the market grind sideways to digest the gains, as we had come so far in such a short amount of time. Ultimately, I do think that the S&P 500 continues to react to the Federal Reserve and all of its efforts, so a pullback here is probably going to end up being a buying opportunity. Granted, I recognize that the stock markets are completely divorced from reality, but that has been the case for 12 years so I do not see how this should suddenly change now. With this, liquidity continues to force money into the market, but ultimately it is difficult to short in that scenario, despite the fact that any person can see that we are overdone. I think it nice pullback from here makes sense but it should be noted that the 3400 level is showing itself as resilient as well. For a look at all of today’s economic events, check out oureconomic calendar. Thisarticlewas originally posted on FX Empire • Gold Weekly Price Forecast – Gold Markets Fail at Big Figure Again • E-mini NASDAQ-100 Index (NQ) Futures Technical Analysis – Technical Bounce Could Lead to Test of 11803.75 • USD/CAD Daily Forecast – U.S. Dollar Fails To Continue Its Rebound • EUR/USD Weekly Price Forecast – Euro Gives Back Initial Push • S&P 500 Price Forecast – Stock Markets Looking for Support • Bitcoin Down Almost 10% Today, You’ll Be Surprised to Hear What’s Next \|\| Gold Weekly Price Forecast – Gold Markets Fail at Big Figure Again: Gold markets initially tried to rally during the course of the week but continue to see trouble at the $2000 level, which of course is a large, round, psychologically significant figure. If we were to break above that level, it would obviously be very bullish, but at this point I do not think that happens anytime soon. The market breaking above there obviously has gold looking for the $2100 level, but it is going to take some type of shock to the system to get gold flying like that. Gold Price Predictions Video 07.09.20 The US dollar has been strengthening, and as the employment numbers in the United States came out a little better than anticipated, we could start to see a little bit of a reversal in the fortunes of the greenback, at least on a temporary basis. If that is going to be the case, then gold will certainly selloff. Underneath the current trading area though, I think that the $1800 level is an extraordinarily supportive area, and I would become aggressively long of this market. If we were to break down significantly below there, then the uptrend is over, and the US dollar skyrockets again. While it does sound a little drastic, that is essentially how this market is behaving these days. As central banks around the world continue to buy gold, so I do think that longer-term goes higher but we have clearly gotten a bit ahead of ourselves as of late. The markets are trying to tell us this, so if we are a longer-term trader, we know that we have an opportunity to pick up gold “on the cheap” if it does drop. For a look at all of today’s economic events, check out our economic calendar . This article was originally posted on FX Empire More From FXEMPIRE: GBP/JPY Weekly Price Forecast – British Pound Gives Up Gains Bitcoin Down Almost 10% Today, You’ll Be Surprised to Hear What’s Next Gold Weekly Price Forecast – Gold Markets Fail at Big Figure Again GBP/USD Weekly Price Forecast – British Pound Pulls Back US Stock Market Overview – Stock as Volatility Continues to Rise Silver Price Forecast – Silver Markets Pull Back Into the Weekend \|\| Gold Weekly Price Forecast – Gold Markets Fail at Big Figure Again: Gold marketsinitially tried to rally during the course of the week but continue to see trouble at the $2000 level, which of course is a large, round, psychologically significant figure. If we were to break above that level, it would obviously be very bullish, but at this point I do not think that happens anytime soon. The market breaking above there obviously has gold looking for the $2100 level, but it is going to take some type of shock to the system to get gold flying like that. The US dollar has been strengthening, and as the employment numbers in the United States came out a little better than anticipated, we could start to see a little bit of a reversal in the fortunes of the greenback, at least on a temporary basis. If that is going to be the case, then gold will certainly selloff. Underneath the current trading area though, I think that the $1800 level is an extraordinarily supportive area, and I would become aggressively long of this market. If we were to break down significantly below there, then the uptrend is over, and the US dollar skyrockets again. While it does sound a little drastic, that is essentially how this market is behaving these days. As central banks around the world continue to buy gold, so I do think that longer-term goes higher but we have clearly gotten a bit ahead of ourselves as of late. The markets are trying to tell us this, so if we are a longer-term trader, we know that we have an opportunity to pick up gold “on the cheap” if it does drop. For a look at all of today’s economic events, check out oureconomic calendar. Thisarticlewas originally posted on FX Empire • GBP/JPY Weekly Price Forecast – British Pound Gives Up Gains • Bitcoin Down Almost 10% Today, You’ll Be Surprised to Hear What’s Next • Gold Weekly Price Forecast – Gold Markets Fail at Big Figure Again • GBP/USD Weekly Price Forecast – British Pound Pulls Back • US Stock Market Overview – Stock as Volatility Continues to Rise • Silver Price Forecast – Silver Markets Pull Back Into the Weekend \|\| Blockchain Bites: Tether’s Dispute, Buterin’s Fix and 3 Reasons for Bitcoin’s Sell-Off: Tether disputes allegations of market manipulation brought in court, Vitalik Buterin issues a proposal for Ethereum’s high gas fees and Voatz weighed in on whether a longstanding federal law over computer access is overly broad. Tether disputesTether and affiliate exchange group iFinex havecalled for a market manipulation lawsuit to be dismissedbecause plaintiffs, they say, cannot prove $3 billion worth of unbacked stablecoins actually entered the market. Five crypto traders are suing the companies for incurred monetary losses after buying cryptocurrencies at prices they claim were inflated by Tether’s manipulation of the market. Plaintiffs claim Tether issued billions of dollars worth of dollar-backed cryptos, which Bitfinex then used to purchase cryptocurrencies on the open market to prop prices up during market downturns. Defendants’ lawyers argue the claimUSDTis not properly backed is based on “unfounded allegations, and that it hasn’t been proven cryptocurrency prices were indeed artificial at the time in question. New pairsBitMEXannounced plans to introduce futures markets for two cryptocurrencies,chainlink(LINK) andtezos(XTZ), the first new coins to appear on the exchange in over two years. These two cryptos have seen triple-digit year-to-date returns. BitMEX last listed a new token in June 2018, when it announced a TRON/BTC futures market. Shortly before that announcement, the exchange removed six altcoin futures markets, includingethereum classic(ETC),zcash(ZEC), andmonero(XMR). Notably, the new altcoin futures will trade against tether (USDT) instead ofbitcoin(BTC). In Friday’s announcement, BitMEX said the reason for this is because “USDT pairs account for over 60% of overall altcoin volume.” Related: Fee fixes?Ethereum co-founderVitalik Buterin released an improvement proposal(EIP 2929) Tuesday in a bid to ameliorate soaring network fees. Average network fees reached $15.21 on Wednesday, up 660% from $2 a month ago. The surge in fees is likely being driven by the growing use and number of decentralized finance (DeFi) applications. Buterin’s proposal would make “heavy” contracts, which update the Ethereum state, more expensive by a factor of three. This repricing proposal could break some smart contracts already operating on Ethereum, Buterin wrote, adding developers “have had years of warning” about potential changes. Necessary consensus to vote the proposal in could take weeks or months. International regulationBank of England (BoE) Governor Andrew Bailey saidregulators have to come together for a “global response” to stablecoinissuance. Speaking Thursday, he said the international nature of stablecoins, which can be based in one country and operate in another, meant failure to coordinate could result in confusion and regulatory fragmentation. While admitting stablecoins could reduce frictional costs, even becoming the primary means for purchasing goods and services, regulators must ensure they maintain their 1:1 backing with fiat currencies. Further, Bailey called bitcoin unsuitable for payments and multi-asset backed crypto-dollars like libra premature. The BoE is actively researching a “digital pound.” Quickening researchBrazil’s chief central banker Roberto Campos Neto said Wednesday that his countrycould be ready for a digital currency(CBDC) by 2022. By that time, the Banco Central president said, Brazil will have an interoperable instant payments system and a “credible” and “convertible” international currency – “all the ingredients to have a digital currency,” he said at a Bloomberg event covered by local outlet Correio Braziliense. Campos Neto also was reported to have said that CBDCs are the consequence of fast-digitizing financial systems such as Brazil’s. • Craig Wright Trial Over a Fortune in Bitcoin Moved to 2021(Dan Palmer/CoinDesk) • BitClub Promoter Pleads Guilty for Role in $722M Fraudulent Mining Scheme(Zack Voell/CoinDesk) • US Air Force and Raytheon Are Studying How Distributed Ledgers Could Help Command the Skies(Danny Nelson/CoinDesk) • SEC Faces Stiff Test in Regulating DeFi, Says Hester Peirce(Robert Stevens/Decrypt) • DeFi Protocols Don’t Do “Lending”(Jake Chervinsky/Bankless) Is the CFAA overly broad?Blockchain voting startup Voatzweighed in on a longstanding ruling about improper access to a “protected computer.” Related:Money Reimagined: Defanging FAANG Appearing in a “friend of the court” brief before the U.S. Supreme Court, the startup argued that bug bounty programs concerning cybersecurity should be operated under strict supervision. The case, Van Buren v. United States, is centered around whether it is a federal crime for someone to access a computer “for an improper purpose,” if they already have permission to access other files on that computer. Nathan Van Buren, the petitioner in the case, is a former Georgia police officer who was charged under the Computer Fraud and Abuse Act (CFAA), which is often used to prosecute computer hackers. Enacted before the establishment of the internet, the CFAA prohibits accessing a “computer” without permission as well as the unauthorized deletion, alteration or blocking of privately stored data. Some, likeprominent lawyer Tor Eklend,believe the law is overly broad and outdated. For his part, Van Buren claims a lower court ruling upholding his conviction could be taken to mean that “any ‘trivial breach’” of a computer system could be a federal crime. He was given permission to look up a license plate for an acquaintance. In its brief, Voatz says the CFAA does not need to be narrowed, and some breaches of computer systems are necessary. However, the firm argues researchers looking into potential vulnerabilities should specifically check with the companies they are evaluating prior to doing so, and should only proceed with authorization from the companies. Late last year, a University of Michigan student or students participating in a security course likely accessed Voatz’ systems. In its brief, Voatz said the “students’ ill-advised activity” was reported to West Virginia officials, prompting an FBI investigation, because the company could not distinguish between their research and an actual hostile attack. “Regardless of the particulars, however, the West Virginia incident illustrates the harm caused by attacking, or ‘researching,’ critical infrastructure without proper access or authorization especially in the middle of an election,” Voatz wrote. Non-malicious researchers trying to break into digital tools “imposes significant additional costs” to organizations, Voatz said, and could harm public confidence. Reasons whyBitcoin prices fell below $11,000 yesterday for the first time in a month. First Mover Editor Bradley Keounspoke to market analysts for their take on why the market tanked.Here are the three most common responses. 1. Bitcoin is tracking traditional markets • “There could be an overlap between equity sellers and digital currency sellers. The largest equity market decliners this morning are tech stocks, including retail trading darlings, Tesla and the FAANG names [Facebook, Amazon, Apple, Netflix and Alphabet, once Google]. It is unclear if this will push into a continued broader crash in equity markets, which could put more pressure on digital currencies, or if it is just a short-term correction,” John Todaro, director of institutional research at the cryptocurrency analysis firm TradeBlock, said. 2. DeFi sell-offs cascaded into bitcoin • The total value locked (TVL) in all DeFi applications dropped to $9.1 billion from $9.5 billion, over the past few days, according to the website DeFi Pulse. This may be related to drops in both ether and bitcoin’s price. • “Also, an aggressive unwind of the very crowded trade across Uniswap token related positions in the wake of a number of tokens, namely PIZZA and HOTDOG, dramatically collapsed from $6,000 to $1 in a mere few hours. This is likely because the same assets (bitcoin, ether and others) are used aggressively to structure collateralized positions,” Denis Vinokourov, head of research at the crypto prime broker BeQuant, said. 3. Miners sold some of their bitcoin • Blockchain-data analysis firm CryptoQuant found major bitcoin-mining pools have increased the amount of bitcoin they’re transferred out, potentially as a de-risking maneuver. • “Miners are good traders. I think they are just looking for selling opportunities, not capitulation. I think it’s going to be the war of miners between those who want a bitcoin price rally and those who don’t. Some Chinese miners already realize their mining profitability (ROI), and they might not want new mining competitors joining the industry because of the bull market,” Ki Young Yu, founder of CryptoQuant, said. Risk off?Bitcoin isn’t likely to seea quick rebound from the double-digit price dropover the last two days, CoinDesk’s Omkar Godbole reports. Bitcoin fell by over 10% on Thursday to $10,006, according to CoinDesk’s Bitcoin Price Index, the biggest single-day percentage decline since March 12 when prices crashed around 40% amid a major sell-off across the equities markets. Though up slightly, Matthew Dibb, Stack COO, thinks bitcoin will track traditional assets during “this ‘risk-off’ period.” “Macro factors are currently at play,” Dibbs said. Wallet forksWasabi Wallet hashard-forked the wallet Thursday to address a vulnerabilityfor a hypothetical attack the team assumes has never been carried out. Discovered by a team member at Trezor, a leading maker of hardware wallets, the vulnerability would have interfered with the wallet’s implementation of CoinJoin, a privacy protocol. Users need to upgrade to the latest version of the wallet if they want to continue using the CoinJoin feature. “The flaw’s discovery is another example of the open-source community’s camaraderie and cooperation,” CoinDesk’s Colin Harper reports. Stablecoin opportunityNic Carter, a CoinDesk columnist and partner at Castle Island Ventures, believes the billion-dollar stablecoin marketpresents an opportunity for the United States, not a threat.“If the U.S. chooses to marginalize crypto-dollars and punish their issuers, not only will they suppress a burgeoning American industry, they will also push users into even less accountable alternatives,” he writes. DeFi degensThe latest edition of The Breakdown looks at theburgeoning DeFi market and its “degenerate” players. • Blockchain Bites: Tether’s Dispute, Buterin’s Fix and 3 Reasons for Bitcoin’s Sell-Off • Blockchain Bites: Tether’s Dispute, Buterin’s Fix and 3 Reasons for Bitcoin’s Sell-Off \|\| Blockchain Bites: Tether’s Dispute, Buterin’s Fix and 3 Reasons for Bitcoin’s Sell-Off: Tether disputes allegations of market manipulation brought in court, Vitalik Buterin issues a proposal for Ethereum’s high gas fees and Voatz weighed in on whether a longstanding federal law over computer access is overly broad. Tether disputesTether and affiliate exchange group iFinex havecalled for a market manipulation lawsuit to be dismissedbecause plaintiffs, they say, cannot prove $3 billion worth of unbacked stablecoins actually entered the market. Five crypto traders are suing the companies for incurred monetary losses after buying cryptocurrencies at prices they claim were inflated by Tether’s manipulation of the market. Plaintiffs claim Tether issued billions of dollars worth of dollar-backed cryptos, which Bitfinex then used to purchase cryptocurrencies on the open market to prop prices up during market downturns. Defendants’ lawyers argue the claimUSDTis not properly backed is based on “unfounded allegations, and that it hasn’t been proven cryptocurrency prices were indeed artificial at the time in question. New pairsBitMEXannounced plans to introduce futures markets for two cryptocurrencies,chainlink(LINK) andtezos(XTZ), the first new coins to appear on the exchange in over two years. These two cryptos have seen triple-digit year-to-date returns. BitMEX last listed a new token in June 2018, when it announced a TRON/BTC futures market. Shortly before that announcement, the exchange removed six altcoin futures markets, includingethereum classic(ETC),zcash(ZEC), andmonero(XMR). Notably, the new altcoin futures will trade against tether (USDT) instead ofbitcoin(BTC). In Friday’s announcement, BitMEX said the reason for this is because “USDT pairs account for over 60% of overall altcoin volume.” Related: Fee fixes?Ethereum co-founderVitalik Buterin released an improvement proposal(EIP 2929) Tuesday in a bid to ameliorate soaring network fees. Average network fees reached $15.21 on Wednesday, up 660% from $2 a month ago. The surge in fees is likely being driven by the growing use and number of decentralized finance (DeFi) applications. Buterin’s proposal would make “heavy” contracts, which update the Ethereum state, more expensive by a factor of three. This repricing proposal could break some smart contracts already operating on Ethereum, Buterin wrote, adding developers “have had years of warning” about potential changes. Necessary consensus to vote the proposal in could take weeks or months. International regulationBank of England (BoE) Governor Andrew Bailey saidregulators have to come together for a “global response” to stablecoinissuance. Speaking Thursday, he said the international nature of stablecoins, which can be based in one country and operate in another, meant failure to coordinate could result in confusion and regulatory fragmentation. While admitting stablecoins could reduce frictional costs, even becoming the primary means for purchasing goods and services, regulators must ensure they maintain their 1:1 backing with fiat currencies. Further, Bailey called bitcoin unsuitable for payments and multi-asset backed crypto-dollars like libra premature. The BoE is actively researching a “digital pound.” Quickening researchBrazil’s chief central banker Roberto Campos Neto said Wednesday that his countrycould be ready for a digital currency(CBDC) by 2022. By that time, the Banco Central president said, Brazil will have an interoperable instant payments system and a “credible” and “convertible” international currency – “all the ingredients to have a digital currency,” he said at a Bloomberg event covered by local outlet Correio Braziliense. Campos Neto also was reported to have said that CBDCs are the consequence of fast-digitizing financial systems such as Brazil’s. • Craig Wright Trial Over a Fortune in Bitcoin Moved to 2021(Dan Palmer/CoinDesk) • BitClub Promoter Pleads Guilty for Role in $722M Fraudulent Mining Scheme(Zack Voell/CoinDesk) • US Air Force and Raytheon Are Studying How Distributed Ledgers Could Help Command the Skies(Danny Nelson/CoinDesk) • SEC Faces Stiff Test in Regulating DeFi, Says Hester Peirce(Robert Stevens/Decrypt) • DeFi Protocols Don’t Do “Lending”(Jake Chervinsky/Bankless) Is the CFAA overly broad?Blockchain voting startup Voatzweighed in on a longstanding ruling about improper access to a “protected computer.” Related:Money Reimagined: Defanging FAANG Appearing in a “friend of the court” brief before the U.S. Supreme Court, the startup argued that bug bounty programs concerning cybersecurity should be operated under strict supervision. The case, Van Buren v. United States, is centered around whether it is a federal crime for someone to access a computer “for an improper purpose,” if they already have permission to access other files on that computer. Nathan Van Buren, the petitioner in the case, is a former Georgia police officer who was charged under the Computer Fraud and Abuse Act (CFAA), which is often used to prosecute computer hackers. Enacted before the establishment of the internet, the CFAA prohibits accessing a “computer” without permission as well as the unauthorized deletion, alteration or blocking of privately stored data. Some, likeprominent lawyer Tor Eklend,believe the law is overly broad and outdated. For his part, Van Buren claims a lower court ruling upholding his conviction could be taken to mean that “any ‘trivial breach’” of a computer system could be a federal crime. He was given permission to look up a license plate for an acquaintance. In its brief, Voatz says the CFAA does not need to be narrowed, and some breaches of computer systems are necessary. However, the firm argues researchers looking into potential vulnerabilities should specifically check with the companies they are evaluating prior to doing so, and should only proceed with authorization from the companies. Late last year, a University of Michigan student or students participating in a security course likely accessed Voatz’ systems. In its brief, Voatz said the “students’ ill-advised activity” was reported to West Virginia officials, prompting an FBI investigation, because the company could not distinguish between their research and an actual hostile attack. “Regardless of the particulars, however, the West Virginia incident illustrates the harm caused by attacking, or ‘researching,’ critical infrastructure without proper access or authorization especially in the middle of an election,” Voatz wrote. Non-malicious researchers trying to break into digital tools “imposes significant additional costs” to organizations, Voatz said, and could harm public confidence. Reasons whyBitcoin prices fell below $11,000 yesterday for the first time in a month. First Mover Editor Bradley Keounspoke to market analysts for their take on why the market tanked.Here are the three most common responses. 1. Bitcoin is tracking traditional markets • “There could be an overlap between equity sellers and digital currency sellers. The largest equity market decliners this morning are tech stocks, including retail trading darlings, Tesla and the FAANG names [Facebook, Amazon, Apple, Netflix and Alphabet, once Google]. It is unclear if this will push into a continued broader crash in equity markets, which could put more pressure on digital currencies, or if it is just a short-term correction,” John Todaro, director of institutional research at the cryptocurrency analysis firm TradeBlock, said. 2. DeFi sell-offs cascaded into bitcoin • The total value locked (TVL) in all DeFi applications dropped to $9.1 billion from $9.5 billion, over the past few days, according to the website DeFi Pulse. This may be related to drops in both ether and bitcoin’s price. • “Also, an aggressive unwind of the very crowded trade across Uniswap token related positions in the wake of a number of tokens, namely PIZZA and HOTDOG, dramatically collapsed from $6,000 to $1 in a mere few hours. This is likely because the same assets (bitcoin, ether and others) are used aggressively to structure collateralized positions,” Denis Vinokourov, head of research at the crypto prime broker BeQuant, said. 3. Miners sold some of their bitcoin • Blockchain-data analysis firm CryptoQuant found major bitcoin-mining pools have increased the amount of bitcoin they’re transferred out, potentially as a de-risking maneuver. • “Miners are good traders. I think they are just looking for selling opportunities, not capitulation. I think it’s going to be the war of miners between those who want a bitcoin price rally and those who don’t. Some Chinese miners already realize their mining profitability (ROI), and they might not want new mining competitors joining the industry because of the bull market,” Ki Young Yu, founder of CryptoQuant, said. Risk off?Bitcoin isn’t likely to seea quick rebound from the double-digit price dropover the last two days, CoinDesk’s Omkar Godbole reports. Bitcoin fell by over 10% on Thursday to $10,006, according to CoinDesk’s Bitcoin Price Index, the biggest single-day percentage decline since March 12 when prices crashed around 40% amid a major sell-off across the equities markets. Though up slightly, Matthew Dibb, Stack COO, thinks bitcoin will track traditional assets during “this ‘risk-off’ period.” “Macro factors are currently at play,” Dibbs said. Wallet forksWasabi Wallet hashard-forked the wallet Thursday to address a vulnerabilityfor a hypothetical attack the team assumes has never been carried out. Discovered by a team member at Trezor, a leading maker of hardware wallets, the vulnerability would have interfered with the wallet’s implementation of CoinJoin, a privacy protocol. Users need to upgrade to the latest version of the wallet if they want to continue using the CoinJoin feature. “The flaw’s discovery is another example of the open-source community’s camaraderie and cooperation,” CoinDesk’s Colin Harper reports. Stablecoin opportunityNic Carter, a CoinDesk columnist and partner at Castle Island Ventures, believes the billion-dollar stablecoin marketpresents an opportunity for the United States, not a threat.“If the U.S. chooses to marginalize crypto-dollars and punish their issuers, not only will they suppress a burgeoning American industry, they will also push users into even less accountable alternatives,” he writes. DeFi degensThe latest edition of The Breakdown looks at theburgeoning DeFi market and its “degenerate” players. • Blockchain Bites: Tether’s Dispute, Buterin’s Fix and 3 Reasons for Bitcoin’s Sell-Off • Blockchain Bites: Tether’s Dispute, Buterin’s Fix and 3 Reasons for Bitcoin’s Sell-Off \|\| Blockchain Bites: Tether’s Dispute, Buterin’s Fix and 3 Reasons for Bitcoin’s Sell-Off: Tether disputes allegations of market manipulation brought in court, Vitalik Buterin issues a proposal for Ethereum’s high gas fees and Voatz weighed in on whether a longstanding federal law over computer access is overly broad. Top shelf Tether disputes Tether and affiliate exchange group iFinex have called for a market manipulation lawsuit to be dismissed because plaintiffs, they say, cannot prove $3 billion worth of unbacked stablecoins actually entered the market. Five crypto traders are suing the companies for incurred monetary losses after buying cryptocurrencies at prices they claim were inflated by Tether’s manipulation of the market. Plaintiffs claim Tether issued billions of dollars worth of dollar-backed cryptos, which Bitfinex then used to purchase cryptocurrencies on the open market to prop prices up during market downturns. Defendants’ lawyers argue the claim USDT is not properly backed is based on “unfounded allegations, and that it hasn’t been proven cryptocurrency prices were indeed artificial at the time in question. New pairs BitMEX announced plans to introduce futures markets for two cryptocurrencies, chainlink (LINK) and tezos (XTZ), the first new coins to appear on the exchange in over two years. These two cryptos have seen triple-digit year-to-date returns. BitMEX last listed a new token in June 2018, when it announced a TRON/BTC futures market. Shortly before that announcement, the exchange removed six altcoin futures markets, including ethereum classic (ETC), zcash (ZEC), and monero (XMR). Notably, the new altcoin futures will trade against tether (USDT) instead of bitcoin (BTC). In Friday’s announcement, BitMEX said the reason for this is because “USDT pairs account for over 60% of overall altcoin volume.” Related: Fee fixes? Ethereum co-founder Vitalik Buterin released an improvement proposal (EIP 2929) Tuesday in a bid to ameliorate soaring network fees. Average network fees reached $15.21 on Wednesday, up 660% from $2 a month ago. The surge in fees is likely being driven by the growing use and number of decentralized finance (DeFi) applications. Buterin’s proposal would make “heavy” contracts, which update the Ethereum state, more expensive by a factor of three. This repricing proposal could break some smart contracts already operating on Ethereum, Buterin wrote, adding developers “have had years of warning” about potential changes. Necessary consensus to vote the proposal in could take weeks or months. Story continues International regulation Bank of England (BoE) Governor Andrew Bailey said regulators have to come together for a “global response” to stablecoin issuance. Speaking Thursday, he said the international nature of stablecoins, which can be based in one country and operate in another, meant failure to coordinate could result in confusion and regulatory fragmentation. While admitting stablecoins could reduce frictional costs, even becoming the primary means for purchasing goods and services, regulators must ensure they maintain their 1:1 backing with fiat currencies. Further, Bailey called bitcoin unsuitable for payments and multi-asset backed crypto-dollars like libra premature. The BoE is actively researching a “digital pound.” Quickening research Brazil’s chief central banker Roberto Campos Neto said Wednesday that his country could be ready for a digital currency (CBDC) by 2022. By that time, the Banco Central president said, Brazil will have an interoperable instant payments system and a “credible” and “convertible” international currency – “all the ingredients to have a digital currency,” he said at a Bloomberg event covered by local outlet Correio Braziliense. Campos Neto also was reported to have said that CBDCs are the consequence of fast-digitizing financial systems such as Brazil’s. Quick bites Craig Wright Trial Over a Fortune in Bitcoin Moved to 2021 (Dan Palmer/CoinDesk) BitClub Promoter Pleads Guilty for Role in $722M Fraudulent Mining Scheme (Zack Voell/CoinDesk) US Air Force and Raytheon Are Studying How Distributed Ledgers Could Help Command the Skies (Danny Nelson/CoinDesk) SEC Faces Stiff Test in Regulating DeFi, Says Hester Peirce (Robert Stevens/Decrypt) DeFi Protocols Don’t Do “Lending” (Jake Chervinsky/Bankless) At stake Is the CFAA overly broad? Blockchain voting startup Voatz weighed in on a longstanding ruling about improper access to a “protected computer.” Related: Money Reimagined: Defanging FAANG Appearing in a “friend of the court” brief before the U.S. Supreme Court, the startup argued that bug bounty programs concerning cybersecurity should be operated under strict supervision. The case, Van Buren v. United States, is centered around whether it is a federal crime for someone to access a computer “for an improper purpose,” if they already have permission to access other files on that computer. Nathan Van Buren, the petitioner in the case, is a former Georgia police officer who was charged under the Computer Fraud and Abuse Act (CFAA), which is often used to prosecute computer hackers. Enacted before the establishment of the internet, the CFAA prohibits accessing a “computer” without permission as well as the unauthorized deletion, alteration or blocking of privately stored data. Some, like prominent lawyer Tor Eklend, believe the law is overly broad and outdated. For his part, Van Buren claims a lower court ruling upholding his conviction could be taken to mean that “any ‘trivial breach’” of a computer system could be a federal crime. He was given permission to look up a license plate for an acquaintance. In its brief, Voatz says the CFAA does not need to be narrowed, and some breaches of computer systems are necessary. However, the firm argues researchers looking into potential vulnerabilities should specifically check with the companies they are evaluating prior to doing so, and should only proceed with authorization from the companies. Late last year, a University of Michigan student or students participating in a security course likely accessed Voatz’ systems. In its brief, Voatz said the “students’ ill-advised activity” was reported to West Virginia officials, prompting an FBI investigation, because the company could not distinguish between their research and an actual hostile attack. “Regardless of the particulars, however, the West Virginia incident illustrates the harm caused by attacking, or ‘researching,’ critical infrastructure without proper access or authorization especially in the middle of an election,” Voatz wrote. Non-malicious researchers trying to break into digital tools “imposes significant additional costs” to organizations, Voatz said, and could harm public confidence. Market intel Reasons why Bitcoin prices fell below $11,000 yesterday for the first time in a month. First Mover Editor Bradley Keoun spoke to market analysts for their take on why the market tanked. Here are the three most common responses. 1. Bitcoin is tracking traditional markets “There could be an overlap between equity sellers and digital currency sellers. The largest equity market decliners this morning are tech stocks, including retail trading darlings, Tesla and the FAANG names [Facebook, Amazon, Apple, Netflix and Alphabet, once Google]. It is unclear if this will push into a continued broader crash in equity markets, which could put more pressure on digital currencies, or if it is just a short-term correction,” John Todaro, director of institutional research at the cryptocurrency analysis firm TradeBlock, said. 2. DeFi sell-offs cascaded into bitcoin The total value locked (TVL) in all DeFi applications dropped to $9.1 billion from $9.5 billion, over the past few days, according to the website DeFi Pulse. This may be related to drops in both ether and bitcoin’s price. “Also, an aggressive unwind of the very crowded trade across Uniswap token related positions in the wake of a number of tokens, namely PIZZA and HOTDOG, dramatically collapsed from $6,000 to $1 in a mere few hours. This is likely because the same assets (bitcoin, ether and others) are used aggressively to structure collateralized positions,” Denis Vinokourov, head of research at the crypto prime broker BeQuant, said. 3. Miners sold some of their bitcoin Blockchain-data analysis firm CryptoQuant found major bitcoin-mining pools have increased the amount of bitcoin they’re transferred out, potentially as a de-risking maneuver. “Miners are good traders. I think they are just looking for selling opportunities, not capitulation. I think it’s going to be the war of miners between those who want a bitcoin price rally and those who don’t. Some Chinese miners already realize their mining profitability (ROI), and they might not want new mining competitors joining the industry because of the bull market,” Ki Young Yu, founder of CryptoQuant, said. Risk off? Bitcoin isn’t likely to see a quick rebound from the double-digit price drop over the last two days, CoinDesk’s Omkar Godbole reports. Bitcoin fell by over 10% on Thursday to $10,006, according to CoinDesk’s Bitcoin Price Index, the biggest single-day percentage decline since March 12 when prices crashed around 40% amid a major sell-off across the equities markets. Though up slightly, Matthew Dibb, Stack COO, thinks bitcoin will track traditional assets during “this ‘risk-off’ period.” “Macro factors are currently at play,” Dibbs said. Tech pod Wallet forks Wasabi Wallet has hard-forked the wallet Thursday to address a vulnerability for a hypothetical attack the team assumes has never been carried out. Discovered by a team member at Trezor, a leading maker of hardware wallets, the vulnerability would have interfered with the wallet’s implementation of CoinJoin, a privacy protocol. Users need to upgrade to the latest version of the wallet if they want to continue using the CoinJoin feature. “The flaw’s discovery is another example of the open-source community’s camaraderie and cooperation,” CoinDesk’s Colin Harper reports. Op-ed Stablecoin opportunity Nic Carter, a CoinDesk columnist and partner at Castle Island Ventures, believes the billion-dollar stablecoin market presents an opportunity for the United States, not a threat. “If the U.S. chooses to marginalize crypto-dollars and punish their issuers, not only will they suppress a burgeoning American industry, they will also push users into even less accountable alternatives,” he writes. Podcast corner DeFi degens The latest edition of The Breakdown looks at the burgeoning DeFi market and its “degenerate” players. Who won #CryptoTwitter? Related Stories Blockchain Bites: Tether’s Dispute, Buterin’s Fix and 3 Reasons for Bitcoin’s Sell-Off Blockchain Bites: Tether’s Dispute, Buterin’s Fix and 3 Reasons for Bitcoin’s Sell-Off \|\| Marathon Patent Group Is Still a No-Go Despite Recent PR Claims: Editor’s note: This article was updated on Sept. 8, 2020, after receiving confirmation of the stated electricity prices for Marathon Patent Group’s new mining location. Marathon Patent Group(NASDAQ:MARA) stock is one to avoid. At its inception in 2012 it was a patent companyfounded on a portfolio of three patentsand one application. In August 2017 Marathon announced it intended to also pursue potentialalternative businesses. Then, in November 2017, it acquired Global Bit Ventures, cementing its current direction as a crypto miner. Since then MARA stock has rattled off three years of successive losses. Source: Shutterstock Clearly this is a company that is in chaos looking for hope. The chances of it finding that hope look very, very slim. The company’s latest news does, however, leave a slight possibility. InvestorPlace - Stock Market News, Stock Advice & Trading Tips Since Marathon Patent Group pivoted business to cryptomining, MARA stock has seen three distinct peaks. First, at the announcing of its new direction, the stock shot up. It then sharply decreased to around $1 within its first five months of cryptomining. It mostly proceeded to remain under a dollar for the next year. In April 2019 it enacted a 4-for-1 reverse stock split pushing shares above theNasdaq’s$1 minimum price listing requirement. Again, Marathon shares ratcheted down to below a dollar and the company was facing NASDAQ listing trouble. The company undertook a series of mining computer purchases, issued stock, and acquired a separate mining company. These moves, along with recent price appreciation in cryptos, managed to bring shares above $5. They have since retreated to their current price of $2.50. • 10 Blue-Chip Stocks Ideal for Any Investor This clear pattern of boom and quick retreat has defined MARA stock ever since it became a crypto mining company. Marathon Patent Group has essentially been buying more computers so that they have more capacity to mine. Their business model is relatively simple: hope that you can mine more Bitcoin in value than its costs. Energy costs and computer costs are relatively predictable, Bitcoin much less so. MyInvestorPlacecolleague Thomas Yeung laid out the inherent misdirection of Marathon Patent Group’s business plan inhis recent article. The previous three years do look like a strategy of taking what hasn’t worked, and then deciding to scale it up. That’s a recipe for increasing losses. However, there has been news out of the company of late which, if true, could change the fundamental investment attractiveness of MARA stock. On Aug. 26 the company announced its intent to acquire Fastblock Mining. The company is making some pretty big claims about the fundamental changes this will bring. First, Marathon Patent Group states their current cost to mine one Bitcoin is $7,400. It also contends that upon this deal being consummated, the cost will drop to $3,600 per Bitcoin. They believe this will increase their monthly revenues to about $4 million. This steep decrease comes from a low electricity cost of $0.0285 per KwH in the new location. Past financial statements raise many, many red flags. This company has not managed to make money so far. And investors really have to ask themselves, is the stated $4 million in monthly revenue really feasible? The company had $1.185 million in revenue inallof 2019 from 26,700 square feet of operations. Now with 40,000 additional sq.ft, revenues will increase to $48 million annually? They should rise essentially in a linear fashion. But they’ve jumped exponentially while Marathon Patent Groups square footage has increased by 150% (26,700 to 66,700). Maybe the bitcoin prices will hold true to their projections and they’ll see their revenues turn positive. But given their track record, it makes more sense to side with me and avoid this stock. On the date of publication, Alex Sirois did not have (either directly or indirectly) any positions in the securities mentioned in this article. • Why Everyone Is Investing in 5G All WRONG • America’s #1 Stock Picker Reveals His Next 1,000% Winner • Revolutionary Tech Behind 5G Rollout Is Being Pioneered By This 1 Company • Radical New Battery Could Dismantle Oil Markets The postMarathon Patent Group Is Still a No-Go Despite Recent PR Claimsappeared first onInvestorPlace. \|\| Marathon Patent Group Is Still a No-Go Despite Recent PR Claims: Editor’s note: This article was updated on Sept. 8, 2020, after receiving confirmation of the stated electricity prices for Marathon Patent Group’s new mining location. Marathon Patent Group (NASDAQ: MARA ) stock is one to avoid. At its inception in 2012 it was a patent company founded on a portfolio of three patents and one application. In August 2017 Marathon announced it intended to also pursue potential alternative businesses . Then, in November 2017, it acquired Global Bit Ventures, cementing its current direction as a crypto miner. Since then MARA stock has rattled off three years of successive losses. Cryptocurrencies: Pile of altcoins represented as physical coins Source: Shutterstock Clearly this is a company that is in chaos looking for hope. The chances of it finding that hope look very, very slim. The company’s latest news does, however, leave a slight possibility. InvestorPlace - Stock Market News, Stock Advice & Trading Tips Treading Water Since Marathon Patent Group pivoted business to cryptomining, MARA stock has seen three distinct peaks. First, at the announcing of its new direction, the stock shot up. It then sharply decreased to around $1 within its first five months of cryptomining. It mostly proceeded to remain under a dollar for the next year. In April 2019 it enacted a 4-for-1 reverse stock split pushing shares above the Nasdaq’s $1 minimum price listing requirement. Again, Marathon shares ratcheted down to below a dollar and the company was facing NASDAQ listing trouble. The company undertook a series of mining computer purchases, issued stock, and acquired a separate mining company. These moves, along with recent price appreciation in cryptos, managed to bring shares above $5. They have since retreated to their current price of $2.50. 10 Blue-Chip Stocks Ideal for Any Investor This clear pattern of boom and quick retreat has defined MARA stock ever since it became a crypto mining company. Business Model Marathon Patent Group has essentially been buying more computers so that they have more capacity to mine. Their business model is relatively simple: hope that you can mine more Bitcoin in value than its costs. Energy costs and computer costs are relatively predictable, Bitcoin much less so. Story continues My InvestorPlace colleague Thomas Yeung laid out the inherent misdirection of Marathon Patent Group’s business plan in his recent article . The previous three years do look like a strategy of taking what hasn’t worked, and then deciding to scale it up. That’s a recipe for increasing losses. However, there has been news out of the company of late which, if true, could change the fundamental investment attractiveness of MARA stock. Acquisitions On Aug. 26 the company announced its intent to acquire Fastblock Mining. The company is making some pretty big claims about the fundamental changes this will bring. First, Marathon Patent Group states their current cost to mine one Bitcoin is $7,400. It also contends that upon this deal being consummated, the cost will drop to $3,600 per Bitcoin. They believe this will increase their monthly revenues to about $4 million. This steep decrease comes from a low electricity cost of $0.0285 per KwH in the new location. Revenues That High? Past financial statements raise many, many red flags. This company has not managed to make money so far. And investors really have to ask themselves, is the stated $4 million in monthly revenue really feasible? The company had $1.185 million in revenue in all of 2019 from 26,700 square feet of operations. Now with 40,000 additional sq.ft, revenues will increase to $48 million annually? They should rise essentially in a linear fashion. But they’ve jumped exponentially while Marathon Patent Groups square footage has increased by 150% (26,700 to 66,700). Maybe the bitcoin prices will hold true to their projections and they’ll see their revenues turn positive. But given their track record, it makes more sense to side with me and avoid this stock. On the date of publication, Alex Sirois did not have (either directly or indirectly) any positions in the securities mentioned in this article. More From InvestorPlace Why Everyone Is Investing in 5G All WRONG America’s #1 Stock Picker Reveals His Next 1,000% Winner Revolutionary Tech Behind 5G Rollout Is Being Pioneered By This 1 Company Radical New Battery Could Dismantle Oil Markets The post Marathon Patent Group Is Still a No-Go Despite Recent PR Claims appeared first on InvestorPlace . \|\| GBP/JPY Weekly Price Forecast – British Pound Gives Up Gains: TheBritish poundinitially tried to rally during the week but gave back the gains to show signs of exhaustion. Ultimately, the market is likely to see selling on rallies in the short term, unless there is more of a “risk reversion” in other words, people would be looking to buy anything risk appetite. I think the last couple of days have been rather drastic, at least in some of the risk appetite markets that most people follow. The NASDAQ 100 has gotten absolutely crushed, just as the S&P 500 has. This tells you that there is a lot of fear out there when it comes to risk appetite, so with that in mind it makes sense that this pair would follow right along as the Japanese yen is considered to be a “safety currency.” From a technical analysis standpoint, the 200 week EMA has offered significant resistance, near a massive supply zone so I think all of this lines up quite nicely. I am not saying that this pair breaks apart here, just that it will more than likely try to break down below the ¥140 level and perhaps try to find support again at the ¥138 level where we had rallied from two weeks ago. Either way, you can expect a lot of volatility now that vacation season is over, and more traders are coming back to work. The alternate scenario of course is that the market turns around to break above the top of the shooting star for the week, which would be a massively bullish sign. For a look at all of today’s economic events, check out oureconomic calendar. Thisarticlewas originally posted on FX Empire • Oil Traders Under Pressure, as Seasonal Effect on Crude Oil Markets Come to Play • Gold Price Forecast – Gold Markets Continue to Show Current Area • Bitcoin Down Almost 10% Today, You’ll Be Surprised to Hear What’s Next • Silver Weekly Price Forecast – Silver Gives Back Early Gains for the Week • Crude Oil Price Forecast – Crude Oil Markets Breakthrough Moving Averages • Silver Price Forecast – Silver Markets Pull Back Into the Weekend \|\| GBP/JPY Weekly Price Forecast British Pound Gives Up Gains: The British pound initially tried to rally during the week but gave back the gains to show signs of exhaustion. Ultimately, the market is likely to see selling on rallies in the short term, unless there is more of a risk reversion in other words, people would be looking to buy anything risk appetite. I think the last couple of days have been rather drastic, at least in some of the risk appetite markets that most people follow. The NASDAQ 100 has gotten absolutely crushed, just as the S&P 500 has. This tells you that there is a lot of fear out there when it comes to risk appetite, so with that in mind it makes sense that this pair would follow right along as the Japanese yen is considered to be a safety currency. GBP/JPY Video 07.09.20 From a technical analysis standpoint, the 200 week EMA has offered significant resistance, near a massive supply zone so I think all of this lines up quite nicely. I am not saying that this pair breaks apart here, just that it will more than likely try to break down below the ¥140 level and perhaps try to find support again at the ¥138 level where we had rallied from two weeks ago. Either way, you can expect a lot of volatility now that vacation season is over, and more traders are coming back to work. The alternate scenario of course is that the market turns around to break above the top of the shooting star for the week, which would be a massively bullish sign. For a look at all of todays economic events, check out our economic calendar . This article was originally posted on FX Empire More From FXEMPIRE: Oil Traders Under Pressure, as Seasonal Effect on Crude Oil Markets Come to Play Gold Price Forecast Gold Markets Continue to Show Current Area Bitcoin Down Almost 10% Today, Youll Be Surprised to Hear Whats Next Silver Weekly Price Forecast Silver Gives Back Early Gains for the Week Crude Oil Price Forecast Crude Oil Markets Breakthrough Moving Averages Silver Price Forecast Silver Markets Pull Back Into the Weekend \|\| Oil Traders Under Pressure, as Seasonal Effect on Crude Oil Markets Come to Play: Traders have been struggling of late to keep Brent crude prices above the $43.50 price support level, after touching one month low, as Brent crude prices breached the crucial support area around the $45 price level. Sell-offs also intensified on increased profit taking by traders. It should be noted that Crude prices of late have been experiencing low volatility in the markets overall. However, the recent U.S Job reports recently released is expected to keep the price of crude above the $40 level price level (Brent Crude) in the near term and probably trigger more trading activity in the fragile energy market. Also the recent surge in the US dollar ahead of the European Central Bank (ECB) rate decision is posing a most massive threat to the short-term view of crude oil prices. Crude oil traders are aware, on the recent rebound on the US dollar Index, as squeezed out momentarily the steady bullish run on the energy derivative, as the greenback’s gain is relatively negative effect on the commodity. Also, there is a seasonality effect on the black liquid derivative, including the U.S refinery maintenance period and end of the driving season that will both be weighing on oil demand in September, perhaps spooking the markets, even more, are reports that Iraq was getting complacent on its commitments under the OPEC+ agreement. While the USD move and Iraq news may have led to some profit-taking, underlying supply/demand dynamics and the just recent impressive economic data from the world’s largest economy continue to suggest a tightening market and a move towards the $45 per barrel in the case for Brent oil. Crude oil prices now seem to be in a price consolidation phase after a positive melt-up over the past eight weeks. For a look at all of today’s economic events, check out our economic calendar . This article was originally posted on FX Empire More From FXEMPIRE: Bitcoin Down Almost 10% Today, You’ll Be Surprised to Hear What’s Next AUD/USD Weekly Price Forecast – Australian Dollar Pulls Back After Trying to Rally USD/JPY Weekly Price Forecast – US Dollar Rallies Into Resistance E-mini NASDAQ-100 Index (NQ) Futures Technical Analysis – Technical Bounce Could Lead to Test of 11803.75 Oil Tries To Settle Below The $40 Level Silver Weekly Price Forecast – Silver Gives Back Early Gains for the Week \|\| Oil Traders Under Pressure, as Seasonal Effect on Crude Oil Markets Come to Play: Traders have been struggling of late to keepBrent crude pricesabove the $43.50 price support level, after touching one month low, as Brent crude prices breached the crucial support area around the $45 price level. Sell-offs also intensified on increased profit taking by traders. It should be noted that Crude prices of late have been experiencing low volatility in the markets overall. However, the recentU.S Job reportsrecently released is expected to keep the price of crude above the $40 level price level (Brent Crude) in the near term and probably trigger more trading activity in the fragile energy market. Also the recent surge in the US dollar ahead of the European Central Bank (ECB) rate decision is posing a most massive threat to the short-term view of crude oil prices. Crude oil traders are aware, on the recent rebound on the US dollar Index, as squeezed out momentarily the steady bullish run on the energy derivative, as the greenback’s gain is relatively negative effect on the commodity. Also, there is a seasonality effect on the black liquid derivative, including the U.S refinery maintenance period and end of the driving season that will both be weighing on oil demand in September, perhaps spooking the markets, even more, are reports that Iraq was getting complacent on its commitments under the OPEC+ agreement. While the USD move and Iraq news may have led to some profit-taking, underlying supply/demand dynamics and the just recent impressive economic data from the world’s largest economy continue to suggest a tightening market and a move towards the $45 per barrel in the case for Brent oil. Crude oil prices now seem to be in a price consolidation phase after a positive melt-up over the past eight weeks. For a look at all of today’s economic events, check out oureconomic calendar. Thisarticlewas originally posted on FX Empire • Bitcoin Down Almost 10% Today, You’ll Be Surprised to Hear What’s Next • AUD/USD Weekly Price Forecast – Australian Dollar Pulls Back After Trying to Rally • USD/JPY Weekly Price Forecast – US Dollar Rallies Into Resistance • E-mini NASDAQ-100 Index (NQ) Futures Technical Analysis – Technical Bounce Could Lead to Test of 11803.75 • Oil Tries To Settle Below The $40 Level • Silver Weekly Price Forecast – Silver Gives Back Early Gains for the Week \|\| FACT Aiming to Redefine DeFi Lending and Staking with Zero-Interest Loans: Launched on 31st August 2020, FACT (“Fee Active Collateral Token”), a lending protocol, has entered the DeFi scene with a bang. Its unique product allows cryptocurrency investors to deposit various stablecoins as collateral, all with zero interest rate. FACT’s investment model is designed to give investors a new passive income model, as opposed to traditional staking used in other DeFi protocols. Also Read \| The Major Upside of Bitcoin – What Does It Mean? It’s noteworthy that DeFi lending and staking are now gaining popularity in the cryptocurrency, as they allow you to make money even while you sleep. To that end, FACT introduced its unique lending model to help investors earn passive returns on both their deposits and investments. By staking FACT, you’re automatically considered a Liquidity Provider, using your collateral to hedge against volatility in the crypto markets. To get you started, here's how you can easily earn passive income with FACT. Also Read \| Marsan Bitcoin Exchange - Everything You Need to Know First, deposit Dai (or any other supported token) at 0% interest as collateral to get FACT for liquidity mining. To help sustain the platform, borrowers pay a one-time 2% processing fee to liquidity providers (i.e., stakers). Then, you can stake FACT to earn passive returns. By staking FACT, you'll be recognized as a Liquidity Provider and you will receive a share of the 2% fixed borrowing fee. In addition to liquidity providing , you'll receive a part of the tokens (7 million FACT) allocated for staking rewards. Keep in mind that your earnings are determined by two factors: how much FACT you stake and how long your crypto-assets are locked in the system, As a liquidity provider you’ll get the 2% distributed as long as you are staking FACT. FACT is the native token, so you don't need to hold token ETH/FACT pairs — say 50% ETH and 50% FACT — to become a liquidity provider. Also, as a staker, you'll not be affected by price fluctuations and impermeant losses since you're only contributing to the liquidity pool by only FACT. Story continues FACT was recently listed on popular decentralized exchange Uniswap, in what was a high-profile launch. This massive partnership has helped early-stage FACT investors successfully earn a whopping 1400% return on their investments. In what was a strategic move aimed at getting better exposure and more traction, FACT scored another exchange partnership with Hotbit four days later. For the unfamiliar, Hotbit is an exchange that allows you to trade virtually every major cryptocurrency, more than every other exchange in the crypto space. 20,000 FACT tokens will be burned every month and most of the remaining tokens will be locked up in FACT's smart contract to provide liquidity to the mining pool. The smart contract is already in development, and HODLers will be able to stake their tokens starting from 20th September, 2020. September will be a significant month for the project, with operations kicking into full swing this month. Several 'updates' have been rolled out already, such as the Uniswap token listing, presale Liquidity lock and Hotbit listing. Moreover, plans are already in place for major announcements like the Probit and Kucoin listings (in the coming weeks), beta release, and staking dApp launch which are highly anticipated in the community. FACT Project Roadmap; major announcements expected in September FACT has a circulating supply of 400,000 while as of September 3 (i.e., after the first FACT coin burn), the total supply is 15,382,000. Out of the total supply of FACT, 5.5 million FACT available to the liquidity pool. To reduce the supply of FACT tokens, FACT DAO will burn 20,000 FACT every month, thereby preventing inflation. Since FACT is a deflationary currency, its value will only increase over time while the supply reduces. As such, stakers will keep earning better rewards for liquidity mining. Considering the overall complexity of the project and the ambitious vision of the team, FACT has already made a lasting impression in less than a week (precisely three days) after its launch. It's important to note FACT is much more than a cryptocurrency; it's an ecosystem supporting crypto stakeholders who believe in the future of money: decentralized finance. With a fast-growing community of passionate investors and several groundbreaking features to be added in the future (launching its DEX, for instance), FACT is no doubt one innovative project to watch out for in the DeFi space. Through zero-interest lending, lucrative staking rewards and yield farming, the future looks bright, for a FACT ! For more information on FACT and how it's not "just another lending protocol", you can read the whitepaper: https://fact.finance/FACT_WHITEPAPER_V11.pdf Contract address: 0x23aEfF664c1B2bbA98422a0399586e96cc8a1C92 Follow FACT on Twitter: https://twitter.com/factdefi Telegram official community: https://t.me/factfinance Telegram official Korean community: https://t.me/factfinancekor FACT website: https://fact.finance Media inquiries: [email protected] [Social Media Buzz] None available.	10280.35, 10369.56, 10131.52, 10242.35, 10363.14, 10400.92, 10442.17, 10323.76, 10680.84, 10796.95
Given the historical Bitcoin prices from the last 90 days, predict the next 10 daily closing prices. The historical prices are: 9277.97, 9278.81, 9240.35, 9276.50, 9243.61, 9243.21, 9192.84, 9132.23, 9151.39, 9159.04, 9185.82, 9164.23, 9374.89, 9525.36, 9581.07, 9536.89, 9677.11, 9905.17, 10990.87, 10912.82, 11100.47, 11111.21, 11323.47, 11759.59, 11053.61, 11246.35, 11205.89, 11747.02, 11779.77, 11601.47, 11754.05, 11675.74, 11878.11, 11410.53, 11584.93, 11784.14, 11768.87, 11865.70, 11892.80, 12254.40, 11991.23, 11758.28, 11878.37, 11592.49, 11681.83, 11664.85, 11774.60, 11366.13, 11488.36, 11323.40, 11542.50, 11506.87, 11711.51, 11680.82, 11970.48, 11414.03, 10245.30, 10511.81, 10169.57, 10280.35, 10369.56, 10131.52, 10242.35, 10363.14, 10400.92, 10442.17, 10323.76, 10680.84, 10796.95, 10974.91, 10948.99, 10944.59, 11094.35, 10938.27, 10462.26, 10538.46, 10246.19, 10760.07, 10692.72, 10750.72, 10775.27, 10709.65, 10844.64, 10784.49, 10619.45, 10575.97, 10549.33, 10669.58, 10793.34, 10604.41.	[Bitcoin Technical Analysis for 2020-10-06] Volume: 42623695307, RSI (14-day): 46.78, 50-day EMA: 10759.81, 200-day EMA: 9924.93 [Wider Market Context] Gold Price: 1901.10, Gold RSI: 47.37 Oil Price: 40.67, Oil RSI: 53.12 [Recent News (last 7 days)] BitMEX Ether Futures Trading Contracts Fall by Half in Wake of US Charges: Investor interest in ether futures traded on BitMEX has declined sharply since the Seychelles-based cryptocurrency exchange was charged Thursday with illegally operating an unregistered derivatives-trading platform that accepted U.S. customers. At press time, ether futures contracts worth $63 million (179,000 ETH) are open or active on BitMEX, the lowest since May 15, according to data source Skew . Open interest is down nearly 50% from the $125 million observed on Oct. 1. Last week, the U.S. Commodity Futures Trading Commission (CFTC) filed civil charges against BitMEX, and the Department of Justice brought criminal charges against BitMEXs owners for facilitating money laundering and other illegal transactions. Open interest in ether futures on BitMEX was declining even before last weeks charges, in line with a downdraft witnessed across the industry. It had peaked at $214 million on Sept. 1. Septembers 17% decline in ethers price likely dented short-term optimism, causing a slide in the open interest across all exchanges. Notably, since Thursday, open positions in BitMEX bitcoin futures have also declined by over 20% from $592 million to $456 million. Also read: Open Interest in CME Bitcoin Futures Slides as Market Sapped by Surging DeFi Related Stories BitMEX Ether Futures Trading Contracts Fall by Half in Wake of US Charges BitMEX Ether Futures Trading Contracts Fall by Half in Wake of US Charges BitMEX Ether Futures Trading Contracts Fall by Half in Wake of US Charges BitMEX Ether Futures Trading Contracts Fall by Half in Wake of US Charges \|\| BitMEX Ether Futures Trading Contracts Fall by Half in Wake of US Charges: Investor interest inetherfutures traded on BitMEX has declined sharply since the Seychelles-based cryptocurrency exchange was charged Thursday with illegally operating an unregistered derivatives-trading platform that accepted U.S. customers. • At press time, ether futures contracts worth $63 million (179,000 ETH) are open or active on BitMEX, the lowest since May 15, according to data sourceSkew. • Open interest is down nearly 50% from the $125 million observed on Oct. 1. • Last week, the U.S. Commodity Futures Trading Commission (CFTC)filedcivil charges against BitMEX, and the Department of Justice brought criminal charges against BitMEX’s owners for facilitating money laundering and other illegal transactions. • Open interest in ether futures on BitMEX was declining even before last week’s charges, in line with a downdraft witnessed across the industry. It had peaked at $214 million on Sept. 1. • September’s 17% decline in ether’s price likely dented short-term optimism, causing a slide in the open interest across all exchanges. • Notably, since Thursday, open positions in BitMEXbitcoinfutures have also declined by over 20% from $592 million to $456 million. Also read:Open Interest in CME Bitcoin Futures Slides as Market Sapped by Surging DeFi • BitMEX Ether Futures Trading Contracts Fall by Half in Wake of US Charges • BitMEX Ether Futures Trading Contracts Fall by Half in Wake of US Charges • BitMEX Ether Futures Trading Contracts Fall by Half in Wake of US Charges • BitMEX Ether Futures Trading Contracts Fall by Half in Wake of US Charges \|\| John McAfee arrested after DOJ indicts crypto millionaire for tax evasion: Cybersecurity entrepreneur and crypto personality John McAfee's wild ride could be coming to an end after he was arrested in Spain today, and now faces extradition to the U.S. over charges spanning tax evasion and fraud. The SEC accuses McAfee of being paid more than $23.1 million worth of cryptocurrency assets for promoting a number of ICO token sales without disclosing that he was being paid to do so. Furthermore the DOJ has levied a number of counts of tax evasion against McAfee, saying that he "willfully attempted to evade" payment of income taxes owed to the federal government. In a brief announcing the arrest and unsealing of indictment documents , the DOJ also details that the charges are confined to McAfee the individual and that they did not find any connection with the "anti-virus company bearing his name." The DOJ's charges against McAfee are a bit dry, but detail 10 counts against the entrepreneur. McAfee faced five counts of tax evasion, which each carry a maximum penalty of five years in prison, as well as five counts of "willful failure to file a tax return," each carrying a maximum penalty of one year in prison. The SEC filing is a much more interesting read , with 55 pages detailing a lengthy investigation into McAfee's alleged fraudulent activity promoting a number of ICOs throughout 2017 and 2018. The report specifically notes that McAfee allegedly received more than $11.6 million worth of BTC and ETH tokens for promoting seven ICOs. Unfortunately, those offerings were not named in the suit. He additionally received $11.5 million worth of the promoted tokens, the suit alleges. We have reached out to John McAfee for comment. ICOs are becoming funds \|\| John McAfee arrested after DOJ indicts crypto millionaire for tax evasion: Cybersecurity entrepreneur and crypto personalityJohn McAfee'swild ride could be coming to an end after he was arrested in Spain today, and now faces extradition to the U.S. over charges spanning tax evasion and fraud. The SEC accuses McAfee of being paid more than $23.1 million worth of cryptocurrency assets for promoting a number of ICO token sales without disclosing that he was being paid to do so. Furthermore the DOJhas levied a number of counts of tax evasionagainst McAfee, saying that he "willfully attempted to evade" payment of income taxes owed to the federal government. In abrief announcing the arrest and unsealing of indictment documents, the DOJ also details that the charges are confined to McAfee the individual and that they did not find any connection with the "anti-virus company bearing his name." TheDOJ's chargesagainst McAfee are a bit dry, but detail 10 counts against the entrepreneur. McAfee faced five counts of tax evasion, which each carry a maximum penalty of five years in prison, as well as five counts of "willful failure to file a tax return," each carrying a maximum penalty of one year in prison. TheSEC filing is a much more interesting read, with 55 pages detailing a lengthy investigation into McAfee's alleged fraudulent activity promoting a number of ICOs throughout 2017 and 2018. The report specifically notes that McAfee allegedly received more than $11.6 million worth of BTC and ETH tokens for promoting seven ICOs. Unfortunately, those offerings were not named in the suit. He additionally received $11.5 million worth of the promoted tokens, the suit alleges. We have reached out to John McAfee for comment. ICOs are becoming funds \|\| Pound falls as EU prepares to ignore Johnson’s Brexit ultimatum: • EU reportedly plans to shrug off Johnson’s ultimatum for compromises • Construction PMI beats expectations as business rises • Markets mixed as questions remain over Trump’s health • Premier Oil and Chrysaor to merge • German industrial orders jump • Fifth Co-op Bank boss in seven years quits • Cinema industry braced for further closures as Cineworld warns over 45,000 job losses • Russell Lynch:Only a planning revolution can help turn renters into ‘Generation Buy’ • Sign up here for our daily business briefing newsletter Despite a moderate rise across Europe, the FTSE 100 has closed flat, following a pretty uninspiring performance. It was another quiet day overall, with an increasing sense that that markets are waiting for next month’s US election. Here are some of the day’s top stories: • Premier Oil and Chrysaor to create North Sea giant:Two of the largest North Sea oil explorers are set to merge in a deal that will create one of the largest independent oil and gas companies on the London Stock Exchange. • Construction sector surges after growth spurt:Britain’s builders enjoyed their best month since Covid-19 struck during September after a surge in projects delayed by the pandemic. • Out-of-town sites boom for Wagamama owner:Wagamama owner The Restaurant Group (TRG) hailed a sales revival at its suburban pubs and restaurants after the cornavirus pandemic caused its half-year losses to almost triple. • More pain for cinemas as Warner delays The Batman:Warner Bros blockbuster The Batman has been postponed as the pandemic continues to play havoc with the blockbuster release schedule. • Don’t turn off funding taps yet, warns Lagarde:Christine Lagarde warned that measures to contain coronavirus threatened Europe’s economic recovery and urged governments not to turn off the fiscal taps too soon. Thank you for following along today – we’ll be back at the same time tomorrow! Federal Reserve chair Jerome Powell has warned the US’s economic recovery may be weak if America’s government can’t provide sufficient fiscal aid. Mr Powell’s comment during a speech for a virtual conference, comes as Congress remains in a stalemate over relief spending. The Fed chair said: Boohoo has said it will give evidence to MPs following up on an inquiry into the fast fashion industry and textile waste. My colleagueLaura Onitareports: • Read more:Boohoo to give evidence in new fast fashion probe The number of US job openings dropped in August, declining for the first time in four months. There were 6.5m openings compared to July’s 6.7m, according the Department of Labor’s Job Openings and Labor Turnover Survey. The fall is in line with economists’ estimates. The US’s trade deficit continued to widen in August, reaching $67.1bn. That’s the biggest deficit since 2006, and reflects a further increase in imports as companies responded to higher domestic demand. The surplus in services fell to the smallest since 2012. Surprising precisely nobody, Wall Street has opened flat as a pancake. European shares are now edging slightly higher – which means it’s America’s turn to be flat. The S&P 500 is set to open up 0.2pc, while Nasdaq futures are down 0.1pc. McLaren has begun final testing of its first production electric hybrid supercar before it goes on sale early next year. My colleagueAlan Toveywrites: • Read more:McLaren unveils first 'mass market' hybrid supercar GlaxoSmithKline and Vir Biotechnology will expand their trial of an experimental Covid antibody after initial use by a group of volunteers did not raise any safety concerns. The companies started testing the antibody on early-stage patients in August, hoping to keep symptoms from progressing. Several firms are running tests in this promising class of antiviral drugs to combat the pandemic. After testing the drug on 20 US participants for safety, the trial will now expand to 1,300 patients globally. Half will be randomly assigned to a control group receiving a placebo. Interim trial results may be available as early as the end of this year, with complete efficacy results expected by the first quarter of 2021. The global downturn sparked by the coronavirus pandemic will not be as bad as originally feared, but the crisis is far from over, according to IMF chief Kristalina Georgieva. “The picture today is less dire... allowing for a small upward revision to our global forecast for 2020,” she said ahead of its updated forecasts next week. Ms Georgieva credited the “extraordinary policy measures that put a floor under the world economy”, which amounted to $12 trillion in fiscal support to households and companies. But the economic shocks, especially to low-income countries, have been “profound”, adding: “All countries are now facing what I would call ‘the Long Ascent’ – a difficult climb that will be long, uneven, and uncertain.” Warner Bros blockbuster The Batman has been postponed as the pandemic continues to play havoc with the blockbuster release schedule. My colleagueBen Woodsreports: • Read more:More pain for cinemas as Warner delays The Batman My colleagueRussell Lynchhas a full report on this morning’s construction PMI. He writes: • Read more:Construction ‘takes off’ after growth spurt Birmingham-based Tonik Energy has ceased trading with 250 employees expected to lose their jobs. My colleagueEd Clowesreports: • Read more:Tonik Energy is latest supplier to collapse The European Union is preparing to call Boris Johnson’s bluff over next week’s Brexit deadline, betting that the PM won’t walk away if he fails to draw concessions, Bloomberg reports. The news service says: The pound has dropped to a session low following that report: Reuters’ Andy Bruce tweets: UK PM JOHNSON SAYS BUT UK ECONOMY HAD CHRONIC UNDERLYING PROBLEMS Boris Johnson is currently giving his keynote speech to the Conservative Party conference. You can follow live via the link below, or the video embedded above: • Politics latest news:Boris Johnson seeks to shake off Tory gloom with conference speech – watch live The Financial Conduct Authority has banned the sale of derivatives and exchange-traded notes related to some cryptoassets to retail customers, calling them “ill-suited” for such buyers. The City watchdog said such products cannot be reliably valued for a number of reasons: • inherent nature of the underlying assets, which means they have no reliable basis for valuation • prevalence of market abuse and financial crime in the secondary market (eg cyber theft) • extreme volatility in cryptoasset price movements • inadequate understanding of cryptoassets by retail consumers • lack of legitimate investment need for retail consumers to invest in these products It warned such feature mean “retail consumers might suffer harm from sudden and unexpected losses if they invest in these products”. The regulator estimated customers would save around £53m due to the ban. The ban covers a range of tokens that are not defined as “specified investments”, and includes tokens for well-known cryptocurrencies including Bitcoin, Ether and Ripple. The FCA’s Sheldon Mills said: The ban will come into effect from January 6th. Trading groups IG and Plus500 have both dipped in response to the decision. Apple has pulled rival speakers and headphones from its physical and online stores as the iPhone-maker readies a shake-up of its audio line up. My colleagueMichael Cogleyreports: • Read more:Apple stops selling rival headphones ahead of audio product launch Here are some of the day’s top stories from the Telegraph Money team: • Let the old retire early, former minister urges as state pension age rises to 66:Those nearing retirement should be given early access to their state pension during the pandemic, a former minister has said, as the retirement age increases to 66 for the first time. • NatWest cuts investment Isa fees – but could you get a better deal elsewhere?:Around 80,000 NatWest customers are set to benefit as the bank has reduced the fees it charges on its stocks and shares Isas. However they could still be getting a better deal by shopping elsewhere. • Isabelle Fraser:Boris Johnson's madcap first-time buyer plan won’t get off the ground European equities are stuck in the red, although they’ve edged upwards in recent minutes. Retailer Watches of Switzerland’s shares have popped higher this morning after it raised its guidance following booming sales since the start of the quarter. The FTSE 250 group said revenues for the first ten weeks of its second quarter (from the start of August) were 20.2pc higher than 2019 on a constant-currency basis. Its performance in the UK “continues to be driven by strong domestic sales offsetting lower tourist and airport business”, the company said. It now expects revenues of £880m to £910m for the full year, versus previous estimates of £840m to £860m. Net debt is expected to be slightly lower than anticipated, at £80m to £100m versus an earlier estimate of £90m to £110m. Chief executive Brian Duffy said: The BBC’s political editor tweets: EU negotiating team coming to London tmrw, Barnier likely late Thursday for talks on Friday (deleted prev tweet to avoid confusion!) Commenting on those PMI figures, Duncan Brock of the Chartered Institute of Procurement & Supply, which helped gather the data, said: Here are some salient points from today’s construction PMI report: • Sentiment towards future activity was the strongest for seven months • The strongest performing category was home building, where firms registered a sharp expansion in activity for the fourth month running. Work undertaken on commercial projects also rose strongly, increasing at quickest pace for over two years. Meanwhile, civil engineering activity fell for the second month running and at the sharpest rate since May. • Anecdotal evidence suggested that the expansion in overall activity was predominantly driven by an improvement in demand conditions • New orders rose for the fourth time in as many months • UK construction firms recorded another marked increase in purchasing activity • Staff numbers continued to fall in September. However, the rate of workforce contraction eased to the slowest for seven months • Cost burdens faced by building companies continued to rise A recovery in UK construction gained pace in September, with activity rising at a faster pace than during August, according to the latest purchasing managers’ index data from IHS Markit. The gauge rose to 56.8 (where a score above 50 indicates growth) – beating expectations for a reading 54, and indicating a faster pace of expansion than the previous month’s 54.6. IHS Markit said: Wagamama-owner The Restaurant Group said it has seen improved sales since July, after ditching its financial guidance and revealing the pandemic cut its first-half revenues by around 56pc. The company – which recently lost its spot in the FTSE 250 – posted a £234.7m pretax loss for the six months to the end of June, compared with a £87.7m loss for the same period last year. It has closed around 180 restaurants as part of a rapid downsizing operation in response to the pandemic, with its Frankie & Benny’s locations particularly hard-hit. Trading between early July and late September had been “very encouraging”, the group added, saying like-for-like sales had improvement into all its divisions expect concessions, which have “been heavily impacted by the well-reported travel disruptions”. It noted that lower pressure from rivals meant there had been a “greater availability of skilled and experienced labour for the remaining operators”. It warned the outlook for the sector “remains extremely challenging”, and withdrew all previous guidance. Shore Capital’s Greg Johnson said The Restaurant Group’s post-lockdown performance had been “highly encuraging”, adding: British employers planned to make 58,000 workers redundant in August according to statutory filings, the BBC reports. The broadcaster says966 separate employers informed the Government of plans to cut 20 or more jobs – more than four times as many as during August last year. The figures are lower than during June and July, with 150,000 job cuts indicated during each. Here’s how many planned redundancies have been indicated by filings over recent months: In an interview with LBC radio this morning, Chancellor Rishi Sunak has confirmed that the Government will press ahead with a Budget before the end of this fiscal year – having cancelled a planned fiscal statement in November. Mr Sunak said: Baroness Rona Fairhead will join FTSE 250 group Electrocomponents as its new chair, the company has announced. She will succeed Peter Johnson at the start of February, after joining as a non-executive at the start of November. Formerly chair of the BBC Trust – and having held other roles across a 35 year career, including as chief executive of the Financial Times and chief financial officer of Pearson – Baroness Fairhead joined the House of Lords in 2017. Mr Johnson said: After edging higher at the open, European stock gains have faded – the pan-continental Stoxx 600 is flat, and the FTSE is narrowly in the red. Premier Oil is to merge with larger rival Chrysaor in a deal that will reorganise its massive debt pile and leave shareholders with just 5.45pc of the enlarged company. My colleagueJon Yeomansreports: • Read more:Premier Oil and Chrysaor to merge Premier’s shares have popped about 19pc higher at the open. European stock markets have opened narrowly higher, with the FTSE up 0.1pc. It’s worth watching UK pubs stocks at the open today, following a report in today’s Telegraph that dozens of Tory MPs may vote against Boris Johnson’s 10pm curfew for pubs, restaurants and bars. As my colleagueChristopher Hopereports: • Read more:End of 10pm curfew in sight as dozens of Tories prepare to rebel Industrial orders in Germany beat expectations during Auguast, rising 4.4pc versus the 2.8pc climb expected by economists. However, orders (seen here as an index) remained below pre-pandemic levels. Manufacturing PMI figures released last week suggested the country’s factory activity comeback continued in September, so we should expected this recovery to continue when we get the next round of figures. Andrew Bester, chief executive of the Cop-Operative Bank, has announced plans to step down after just two years in charge. Mr Bester, who joined the lender in 2018, has committed to remaining in place while chair Bob Dench leads the search for a successor. He departure date will be confirmed soon, the bank said. The Bank said in August that it would cut 350 jobs and close 18 branches in response to the pandemic. • Read more:Co-op Bank closes branches and cuts 350 jobs Good morning. The FTSE is tipped open slightly higher as Asian markets rose after Donald Trump was discharged from hospital. Boris Johnson is expected to unveil his plans to stave off surging unemployment rates later today, calling for a “green industrial revolution” in a move which he hopes will create hundreds of thousands of jobs. 1)Treasury eyes tax raid as support grows for assault on the rich:Fears are growing that the Treasury has political cover for a tax raid on the rich after a new poll found that Britons overwhelmingly back an assault on wealth to plug the budget shortfall. The public supports raising taxes instead of a return to austerity by a 15-point margin as ministers eye ways to bring the country's finances under control after debt rocketed above 100pc of GDP, according to the survey by pollster Ipsos Mori. 2)Cinema industry braced for further closures as Cineworld warns over 45,000 job losses:Experts warned that further cinema chains are likely to follow Cineworld’s lead as a second wave of Covid hits release schedules. Britain’s largest cinema chain Cineworld said it would shut theatres in the UK from this Thursday after the latest James Bond film was delayed. 3)Italians eye up bread maker Hovis with takeover bid:The baker's current owners, London-listed Premier Foods and US investment company Gores Group, have been approached by Newlat bosses with an offer which would make the Reggio Emilia-based companyone of the largest playersin the European food industry. Hovis employs 2,800 people and has eight bakeries, one flour mill and three distribution centres. 4)Peter Thiel enjoys $278m payday after Palantir floats:The Silicon Valley tycoon has landed a $278m (£214m) payday by selling shares in his data mining company Palantir in the first two days after its stock market float. Mr Thiel – a former PayPal boss, early Facebook investor and an outspoken supporter of Donald Trump – sold around 27.4m shares last Wednesday and Thursday, filings have revealed. 5)Bank of England official says evidence on negative rates is 'positive':Jonathan Haskel has become the latest Bank of England ratesetter to leave the door open to negative interest rates. The Monetary Policy Committee (MPC) member echoed his colleague Silvana Tenreyro’s open-mindedness about the controversial policy, expressed in anexclusive interview with The Sunday Telegraph last month. No FTSE 350 companies are reporting. Economics:Construction PMI (UK), balance of trade (US), factory orders (Germany) \|\| Market Wrap: Bitcoin Gains Steadily to $10.7K; Ethereum Fees at 2-Month Low: Bitcoin’s price is steadily increasing after last week’s bad news dump; while Ethereum’s fees fall. • Bitcoin(BTC) trading around $10,734 as of 20:15 UTC (4:15 p.m. ET). Gaining 0.51% over the previous 24 hours. • Bitcoin’s 24-hour range: $10,621-$10,775 • BTC above its 10-day and 50-day moving averages, a bullish signal for market technicians. Bitcoin’s price has been on a steady rise since Saturday, topping out at $10,775 Monday on spot exchanges such as Coinbase. Cindy Leow, portfolio manager for 256 Capital Partners, a multi-strategy trading firm, notes bitcoin’s capacity to rebound from recent unpleasant news. “Bitcoin has quickly recovered from back-to-back news about the [Commodity Futures Trading Commission] and the Department of Justice’s indictment against BitMEX as well as news of [Pres. Donald] Trump contracting COVID, speaking to its short-term resilience.” Read More:Bitcoin Volatility Hits 23-Month Low and Shrugs Off BitMEX, Trump’s Illness Related:First Mover: Bitcoiners May Not Care if Dollar Keeps Its Reserve Status Despite bitcoin’s bounceback, Constantin Kogan, partner at crypto fund-of-funds BitBull Capital, is concerned as the derivatives market indicates many traders are still sitting out. “Bitcoin has been stuck in a $10,000-$11,000 channel for the last month,” he said. “Lending yields have fallen across the board as investors await the return of volatility and measure the potential impacts of BitMEX’s stunning downfall.” A sign of distress can be seen by comparing bitcoin’s funding rates with those of competitors. Funding rates are fees paid by one side of a futures contract to the other. When they’re positive, it usually reflects bullish sentiment, while negative rates are bearish. But BitMEX’s negative funding rate might be a sign that investors are leaving the venue, according to Vishal Shah, an options trader and founder of derivatives exchange Alpha5. BitMEX’s funding rate is currently around -0.0124%, while funding rates for major competitors have been at or close to zero for the past three days. Related:Bitcoin's Options Market Retains Long-Term Bull Bias Despite Sluggish Price “It’s a function of unwinds,” Shah said. “Long positions are coming unwound to an extent, open interest has fallen materially, as expected.” “This makes BitMEX a relatively cheaper venue for BTC-denominated players to gain topside leverage,” Shah said. “But that discount isn’t material; you’d have to justify the risk for a 5-10% annualized gain given the regulatory overhang.” While many investors are justifiably losing interest in BitMEX due to its looming legal issues, bitcoin’s dominance, its market share in relation to the total crypto capitalization, has been bouncing back from 2020 lows in September. Dominance starting to trend upwards could affect price, especially if there is sell pressure on both bitcoin and altcoins, said 256 Capital’s Leow. “While this may seem bullish for BTC, it is also a cautionary signal: When low-cap alts dump while BTC stays flat, BTC tends to follow suit in the short-term.” The second-largest cryptocurrency by market capitalization,ether(ETH), was down Monday trading around $351 and slipping 0.37% in 24 hours as of 20:15 UTC (4:15 p.m. ET). Read More:CME Bitcoin Futures Open Interest Slides as Market Sapped by Surging DeFi Fees on Ethereum totalled 5,560 ETH Saturday, the lowest amount spent on the network since August 8. Used to conduct transactions and interact with smart contracts that constitute decentralized finance or DeFi, Ethereum fees have been hitting all-time highs as of late. On Sept. 17, for example, a record 42,763 ETH in fees were paid to miners. Jean-Marc Bonnefous, managing partner of Tellurian Capital, an investment firm, doesn’t expect Ethereum fees, also known as gas, to stay low. “I suspect this is a temporary lull only as the structural issue of the gas costs has not gone away,” he said. Traders could take advantage of the respite in fees to rebalance, Bonnefous noted. “It may be a good time to readjust portfolios at a cheaper cost.” Digital assets on theCoinDesk 20are mostly green Monday. Notable winners as of 20:15 UTC (4:15 p.m. ET): • monero(XMR) + 2.8% • zcash(ZEC) + 2.5% • chainlink(LINK) + 1.8% Notable losers as of 20:15 UTC (4:15 p.m. ET): • litecoin(LTC) – 1.5% • ethereum classic(ETC) – 1% • eos(EOS) – 0.58% Read More:KuCoin CEO Says Suspects in $281M Hack Identified Equities: • Asia’s Nikkei 225 closed in the green 1.2%,led higher by gains in the transportation and financial sectors. • Europe’s FTSE 100 ended the day climbing 0.69% asinvestors were cautiously optimistic on U.S. President Trump’s coronavirus condition. • In the United States the S&P 500 gained 1.7% asthe news President Trump will leave the hospital Monday boosted investor optimism. Commodities: • Oil is up 6.3%. Price per barrel of West Texas Intermediate crude: $39.35. • Gold was in the green 0.78% and at $1,913 as of press time. Treasurys: • U.S. Treasury bond yields climbed Monday. Yields, which move in the opposite direction as price, were up most on the two-year, jumping to 0.149 and in the green 11.8%. • Market Wrap: Bitcoin Gains Steadily to $10.7K; Ethereum Fees at 2-Month Low • Market Wrap: Bitcoin Gains Steadily to $10.7K; Ethereum Fees at 2-Month Low \|\| Market Wrap: Bitcoin Gains Steadily to $10.7K; Ethereum Fees at 2-Month Low: Bitcoin’s price is steadily increasing after last week’s bad news dump; while Ethereum’s fees fall. • Bitcoin(BTC) trading around $10,734 as of 20:15 UTC (4:15 p.m. ET). Gaining 0.51% over the previous 24 hours. • Bitcoin’s 24-hour range: $10,621-$10,775 • BTC above its 10-day and 50-day moving averages, a bullish signal for market technicians. Bitcoin’s price has been on a steady rise since Saturday, topping out at $10,775 Monday on spot exchanges such as Coinbase. Cindy Leow, portfolio manager for 256 Capital Partners, a multi-strategy trading firm, notes bitcoin’s capacity to rebound from recent unpleasant news. “Bitcoin has quickly recovered from back-to-back news about the [Commodity Futures Trading Commission] and the Department of Justice’s indictment against BitMEX as well as news of [Pres. Donald] Trump contracting COVID, speaking to its short-term resilience.” Read More:Bitcoin Volatility Hits 23-Month Low and Shrugs Off BitMEX, Trump’s Illness Related:First Mover: Bitcoiners May Not Care if Dollar Keeps Its Reserve Status Despite bitcoin’s bounceback, Constantin Kogan, partner at crypto fund-of-funds BitBull Capital, is concerned as the derivatives market indicates many traders are still sitting out. “Bitcoin has been stuck in a $10,000-$11,000 channel for the last month,” he said. “Lending yields have fallen across the board as investors await the return of volatility and measure the potential impacts of BitMEX’s stunning downfall.” A sign of distress can be seen by comparing bitcoin’s funding rates with those of competitors. Funding rates are fees paid by one side of a futures contract to the other. When they’re positive, it usually reflects bullish sentiment, while negative rates are bearish. But BitMEX’s negative funding rate might be a sign that investors are leaving the venue, according to Vishal Shah, an options trader and founder of derivatives exchange Alpha5. BitMEX’s funding rate is currently around -0.0124%, while funding rates for major competitors have been at or close to zero for the past three days. Related:Bitcoin's Options Market Retains Long-Term Bull Bias Despite Sluggish Price “It’s a function of unwinds,” Shah said. “Long positions are coming unwound to an extent, open interest has fallen materially, as expected.” “This makes BitMEX a relatively cheaper venue for BTC-denominated players to gain topside leverage,” Shah said. “But that discount isn’t material; you’d have to justify the risk for a 5-10% annualized gain given the regulatory overhang.” While many investors are justifiably losing interest in BitMEX due to its looming legal issues, bitcoin’s dominance, its market share in relation to the total crypto capitalization, has been bouncing back from 2020 lows in September. Dominance starting to trend upwards could affect price, especially if there is sell pressure on both bitcoin and altcoins, said 256 Capital’s Leow. “While this may seem bullish for BTC, it is also a cautionary signal: When low-cap alts dump while BTC stays flat, BTC tends to follow suit in the short-term.” The second-largest cryptocurrency by market capitalization,ether(ETH), was down Monday trading around $351 and slipping 0.37% in 24 hours as of 20:15 UTC (4:15 p.m. ET). Read More:CME Bitcoin Futures Open Interest Slides as Market Sapped by Surging DeFi Fees on Ethereum totalled 5,560 ETH Saturday, the lowest amount spent on the network since August 8. Used to conduct transactions and interact with smart contracts that constitute decentralized finance or DeFi, Ethereum fees have been hitting all-time highs as of late. On Sept. 17, for example, a record 42,763 ETH in fees were paid to miners. Jean-Marc Bonnefous, managing partner of Tellurian Capital, an investment firm, doesn’t expect Ethereum fees, also known as gas, to stay low. “I suspect this is a temporary lull only as the structural issue of the gas costs has not gone away,” he said. Traders could take advantage of the respite in fees to rebalance, Bonnefous noted. “It may be a good time to readjust portfolios at a cheaper cost.” Digital assets on theCoinDesk 20are mostly green Monday. Notable winners as of 20:15 UTC (4:15 p.m. ET): • monero(XMR) + 2.8% • zcash(ZEC) + 2.5% • chainlink(LINK) + 1.8% Notable losers as of 20:15 UTC (4:15 p.m. ET): • litecoin(LTC) – 1.5% • ethereum classic(ETC) – 1% • eos(EOS) – 0.58% Read More:KuCoin CEO Says Suspects in $281M Hack Identified Equities: • Asia’s Nikkei 225 closed in the green 1.2%,led higher by gains in the transportation and financial sectors. • Europe’s FTSE 100 ended the day climbing 0.69% asinvestors were cautiously optimistic on U.S. President Trump’s coronavirus condition. • In the United States the S&P 500 gained 1.7% asthe news President Trump will leave the hospital Monday boosted investor optimism. Commodities: • Oil is up 6.3%. Price per barrel of West Texas Intermediate crude: $39.35. • Gold was in the green 0.78% and at $1,913 as of press time. Treasurys: • U.S. Treasury bond yields climbed Monday. Yields, which move in the opposite direction as price, were up most on the two-year, jumping to 0.149 and in the green 11.8%. • Market Wrap: Bitcoin Gains Steadily to $10.7K; Ethereum Fees at 2-Month Low • Market Wrap: Bitcoin Gains Steadily to $10.7K; Ethereum Fees at 2-Month Low \|\| Market Wrap: Bitcoin Gains Steadily to $10.7K; Ethereum Fees at 2-Month Low: Bitcoin’s price is steadily increasing after last week’s bad news dump; while Ethereum’s fees fall. Bitcoin (BTC) trading around $10,734 as of 20:15 UTC (4:15 p.m. ET). Gaining 0.51% over the previous 24 hours. Bitcoin’s 24-hour range: $10,621-$10,775 BTC above its 10-day and 50-day moving averages, a bullish signal for market technicians. Bitcoin’s price has been on a steady rise since Saturday, topping out at $10,775 Monday on spot exchanges such as Coinbase. Cindy Leow, portfolio manager for 256 Capital Partners, a multi-strategy trading firm, notes bitcoin’s capacity to rebound from recent unpleasant news. “Bitcoin has quickly recovered from back-to-back news about the [Commodity Futures Trading Commission] and the Department of Justice’s indictment against BitMEX as well as news of [Pres. Donald] Trump contracting COVID, speaking to its short-term resilience.” Read More: Bitcoin Volatility Hits 23-Month Low and Shrugs Off BitMEX, Trump’s Illness Related: First Mover: Bitcoiners May Not Care if Dollar Keeps Its Reserve Status Despite bitcoin’s bounceback, Constantin Kogan, partner at crypto fund-of-funds BitBull Capital, is concerned as the derivatives market indicates many traders are still sitting out. “Bitcoin has been stuck in a $10,000-$11,000 channel for the last month,” he said. “Lending yields have fallen across the board as investors await the return of volatility and measure the potential impacts of BitMEX’s stunning downfall.” A sign of distress can be seen by comparing bitcoin’s funding rates with those of competitors. Funding rates are fees paid by one side of a futures contract to the other. When they’re positive, it usually reflects bullish sentiment, while negative rates are bearish. But BitMEX’s negative funding rate might be a sign that investors are leaving the venue, according to Vishal Shah, an options trader and founder of derivatives exchange Alpha5. Story continues BitMEX’s funding rate is currently around -0.0124%, while funding rates for major competitors have been at or close to zero for the past three days. Related: Bitcoin's Options Market Retains Long-Term Bull Bias Despite Sluggish Price “It’s a function of unwinds,” Shah said. “Long positions are coming unwound to an extent, open interest has fallen materially, as expected.” “This makes BitMEX a relatively cheaper venue for BTC-denominated players to gain topside leverage,” Shah said. “But that discount isn’t material; you’d have to justify the risk for a 5-10% annualized gain given the regulatory overhang.” While many investors are justifiably losing interest in BitMEX due to its looming legal issues, bitcoin’s dominance, its market share in relation to the total crypto capitalization, has been bouncing back from 2020 lows in September. Dominance starting to trend upwards could affect price, especially if there is sell pressure on both bitcoin and altcoins, said 256 Capital’s Leow. “While this may seem bullish for BTC, it is also a cautionary signal: When low-cap alts dump while BTC stays flat, BTC tends to follow suit in the short-term.” Daily Ethereum fees drop The second-largest cryptocurrency by market capitalization, ether (ETH), was down Monday trading around $351 and slipping 0.37% in 24 hours as of 20:15 UTC (4:15 p.m. ET). Read More: CME Bitcoin Futures Open Interest Slides as Market Sapped by Surging DeFi Fees on Ethereum totalled 5,560 ETH Saturday, the lowest amount spent on the network since August 8. Used to conduct transactions and interact with smart contracts that constitute decentralized finance or DeFi, Ethereum fees have been hitting all-time highs as of late. On Sept. 17, for example, a record 42,763 ETH in fees were paid to miners. Jean-Marc Bonnefous , managing partner of Tellurian Capital, an investment firm, doesn’t expect Ethereum fees, also known as gas, to stay low. “I suspect this is a temporary lull only as the structural issue of the gas costs has not gone away,” he said. Traders could take advantage of the respite in fees to rebalance, Bonnefous noted. “It may be a good time to readjust portfolios at a cheaper cost.” Other markets Digital assets on the CoinDesk 20 are mostly green Monday. Notable winners as of 20:15 UTC (4:15 p.m. ET): monero (XMR) + 2.8% zcash (ZEC) + 2.5% chainlink (LINK) + 1.8% Notable losers as of 20:15 UTC (4:15 p.m. ET): litecoin (LTC) – 1.5% ethereum classic (ETC) – 1% eos (EOS) – 0.58% Read More: KuCoin CEO Says Suspects in $281M Hack Identified Equities: Asia’s Nikkei 225 closed in the green 1.2%, led higher by gains in the transportation and financial sectors . Europe’s FTSE 100 ended the day climbing 0.69% as investors were cautiously optimistic on U.S. President Trump’s coronavirus condition . In the United States the S&P 500 gained 1.7% as the news President Trump will leave the hospital Monday boosted investor optimism . Commodities: Oil is up 6.3%. Price per barrel of West Texas Intermediate crude: $39.35. Gold was in the green 0.78% and at $1,913 as of press time. Treasurys: U.S. Treasury bond yields climbed Monday. Yields, which move in the opposite direction as price, were up most on the two-year, jumping to 0.149 and in the green 11.8%. Related Stories Market Wrap: Bitcoin Gains Steadily to $10.7K; Ethereum Fees at 2-Month Low Market Wrap: Bitcoin Gains Steadily to $10.7K; Ethereum Fees at 2-Month Low \|\| John McAfee sued by SEC for ICO promotions, arrested on U.S. tax evasion charges: The U.S. Securities and Exchange Commission filed suit against crypto investor and promoter John McAfee for his past promotion of initial coin offerings (ICOs) on social media. Per the complaint: "From at least November 2017 through February 2018, McAfee leveraged his fame to make more than $23.1 million U.S. Dollars (USD) in undisclosed compensation by recommending at least seven initial coin offerings or ICOs to his Twitter followers. The ICOs at issue involved the offer and sale of digital asset securities and McAfees recommendations were materially false and misleading for several reasons." Specifically, McAfee was accused of not disclosing "that he was being paid to promote the ICOs by the issuers," that he "falsely claimed to be an investor and/or a technical advisor when he recommended several ICOs," that he "encouraged investors to purchase the securities sold in certain of the ICOs without disclosing that he was simultaneously trying to sell his own holdings and had paid another third-party promoter to tout the securities" and that he "engaged in a practice known as scalping as to at least one digital asset security, by accumulating large amounts of the digital asset security and touting it on Twitter without disclosing his intent to sell it." In a separate action announced by the Department of Justice, McAfee has been charged with tax evasion. McAfee has been arrested in Spain "where he is pending extradition." The DOJ stated: "According to the indictment, John McAfee earned millions in income from promoting cryptocurrencies, consulting work, speaking engagements, and selling the rights to his life story for a documentary. From 2014 to 2018, McAfee allegedly failed to file tax returns, despite receiving considerable income from these sources. The indictment does not allege that during these years McAfee received any income or had any connection with the anti-virus company bearing his name." Story continues "If convicted, McAfee faces a maximum sentence of five years in prison on each count of tax evasion and a maximum sentence of one year in prison on each count of willful failure to file a tax return. McAfee also faces a period of supervised release, restitution, and monetary penalties," the DOJ said in its statement. McAfee's co-defendant, Jimmy Gale Watson, Jr., was described as McAfee's bodyguard. Watson is accused of assisting McAfee, naming the touting and scalping activities in particular. "McAfee was paid bitcoin (BTC) and ether (ETH) worth more than $11.6 million, plus an additional $11.5 million worth of promoted tokens, as undisclosed compensation for his promotions of seven ICOs. McAfee paid Watson at least $316,000 for his role," the complaint stated. McAfee has commented on the SEC's scrutiny of his activities in the past. He wrote on Twitter in June 2018 that "Due to SEC threats, I am no longer working with ICOs nor am I recommending them, and those doing ICOs can all look forward to arrest." Decrypt's Tim Copeland published a detailed report in April 2019 about McAfee's ICO promotions, revealing that he would seek payment in the form of up to 20 percent of a project's token supply in exchange for his promotional support. The outlet reported at the time that "contracts shared with Decrypt show he has continued to accept money for promoting ICOs toward the end of last year." The SEC is seeking disgorgement of ill-gotten gains, civil penalties, and barring both McAfee and Watson "from participating, directly or indirectly, in the issuance, purchase, offer, or sale of any digital asset security." Read the full SEC complaint and DOJ indictment below: gov.uscourts.nysd.545664.1.0_1 by MichaelPatrickMcSweeney on Scribd Mcafee Unsealed Indictment 0 by MichaelPatrickMcSweeney on Scribd Editor's Note: This report has been updated with additional information. © 2020 The Block Crypto, Inc. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice. \|\| John McAfee sued by SEC for ICO promotions, arrested on U.S. tax evasion charges: The U.S. Securities and Exchange Commission filed suit against crypto investor and promoter John McAfee for his past promotion of initial coin offerings (ICOs) on social media. Per the complaint: "From at least November 2017 through February 2018, McAfee leveraged his fame to make more than $23.1 million U.S. Dollars (“USD”) in undisclosed compensation by recommending at least seven “initial coin offerings” or ICOs to his Twitter followers. The ICOs at issue involved the offer and sale of digital asset securities and McAfee’s recommendations were materially false and misleading for several reasons." Specifically, McAfee was accused of not disclosing "that he was being paid to promote the ICOs by the issuers," that he "falsely claimed to be an investor and/or a technical advisor when he recommended several ICOs," that he "encouraged investors to purchase the securities sold in certain of the ICOs without disclosing that he was simultaneously trying to sell his own holdings and had paid another third-party promoter to tout the securities" and that he "engaged in a practice known as “scalping” as to at least one digital asset security, by accumulating large amounts of the digital asset security and touting it on Twitter without disclosing his intent to sell it." In a separate action announced by the Department of Justice, McAfee has been charged with tax evasion. McAfee has been arrested in Spain "where he is pending extradition." The DOJ stated: "According to the indictment, John McAfee earned millions in income from promoting cryptocurrencies, consulting work, speaking engagements, and selling the rights to his life story for a documentary. From 2014 to 2018, McAfee allegedly failed to file tax returns, despite receiving considerable income from these sources. The indictment does not allege that during these years McAfee received any income or had any connection with the anti-virus company bearing his name." "If convicted, McAfee faces a maximum sentence of five years in prison on each count of tax evasion and a maximum sentence of one year in prison on each count of willful failure to file a tax return. McAfee also faces a period of supervised release, restitution, and monetary penalties," theDOJsaid in its statement. McAfee's co-defendant, Jimmy Gale Watson, Jr., was described as McAfee's bodyguard. Watson is accused of assisting McAfee, naming the touting and scalping activities in particular. "McAfee was paid bitcoin (BTC) and ether (ETH) worth more than $11.6 million, plus an additional $11.5 million worth of promoted tokens, as undisclosed compensation for his promotions of seven ICOs. McAfee paid Watson at least $316,000 for his role," the complaint stated. McAfee has commented on the SEC's scrutiny of his activities in the past. Hewrote on Twitterin June 2018 that "Due to SEC threats, I am no longer working with ICOs nor am I recommending them, and those doing ICOs can all look forward to arrest." Decrypt's Tim Copelandpublished a detailed reportin April 2019 about McAfee's ICO promotions, revealing that he would seek payment in the form of up to 20 percent of a project's token supply in exchange for his promotional support. The outlet reported at the time that "contracts shared with Decrypt show he has continued to accept money for promoting ICOs toward the end of last year." The SEC is seeking disgorgement of ill-gotten gains, civil penalties, and barring both McAfee and Watson "from participating, directly or indirectly, in the issuance, purchase, offer, or sale of any digital asset security." Read the full SEC complaint and DOJ indictment below: gov.uscourts.nysd.545664.1.0_1byMichaelPatrickMcSweeneyon Scribd Mcafee Unsealed Indictment 0byMichaelPatrickMcSweeneyon Scribd Editor's Note:This report has been updated with additional information. © 2020 The Block Crypto, Inc. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice. \|\| John McAfee Arrested in Spain on US Criminal Charges: John McAfee, the 74-year-old software magnate-turned-crypto-bull, has been arrested in Spain on allegations of tax evasion,accordingto the U.S. Department of Justice. His extradition to the U.S. is pending. • On Monday DOJ prosecutors unsealed a criminal indictment against McAfee, who faces charges of tax evasion and willful failure to file tax returns that could land him behind bars for over five years, if convicted. • The announcement comes the same day the U.S. Securities and Exchange Commission (SEC)sued McAfeefor allegedly pumping initial coin offerings (ICOs) without disclosing he was being paid to do so. • McAfee allegedly receivedBTCandETHworth more than $11.6 million for promoting seven ICOs in 2017 and 2018. • He also allegedly received $11.5 million in the promoted tokens. The SEC does not name the projects in the suit. • The SEC outlined the securities violations in a55-page complaintfiled Monday in the U.S. District Court for the Southern District of New York. • According to the SEC, McAfee raised a total of $23.2 million from projects which raised a cumulative $41 million. • “McAfee’s extravagant posts (such as tweeting predictions about BTC price increases and promising to ‘eat my dk on national television’ if such predictions did not pan out) … generated an enormous amount of publicity,” the SEC said in its complaint. • The SEC is seeking civil penalties and an order prohibiting McAfee from serving as a public officer again in future. • The SEC also sued McAfee’s personal security guard, Jimmy Gale Watson, in the complaint. • John McAfee Arrested in Spain on US Criminal Charges • John McAfee Arrested in Spain on US Criminal Charges • John McAfee Arrested in Spain on US Criminal Charges • John McAfee Arrested in Spain on US Criminal Charges \|\| John McAfee Arrested in Spain on US Criminal Charges: John McAfee, the 74-year-old software magnate-turned-crypto-bull, has been arrested in Spain on allegations of tax evasion, according to the U.S. Department of Justice. His extradition to the U.S. is pending. On Monday DOJ prosecutors unsealed a criminal indictment against McAfee, who faces charges of tax evasion and willful failure to file tax returns that could land him behind bars for over five years, if convicted. The announcement comes the same day the U.S. Securities and Exchange Commission (SEC) sued McAfee for allegedly pumping initial coin offerings (ICOs) without disclosing he was being paid to do so. McAfee allegedly received BTC and ETH worth more than $11.6 million for promoting seven ICOs in 2017 and 2018. He also allegedly received $11.5 million in the promoted tokens. The SEC does not name the projects in the suit. The SEC outlined the securities violations in a 55-page complaint filed Monday in the U.S. District Court for the Southern District of New York. According to the SEC, McAfee raised a total of $23.2 million from projects which raised a cumulative $41 million. “McAfee’s extravagant posts (such as tweeting predictions about BTC price increases and promising to ‘eat my dk on national television’ if such predictions did not pan out) … generated an enormous amount of publicity,” the SEC said in its complaint. The SEC is seeking civil penalties and an order prohibiting McAfee from serving as a public officer again in future. The SEC also sued McAfee’s personal security guard, Jimmy Gale Watson, in the complaint. Related Stories John McAfee Arrested in Spain on US Criminal Charges John McAfee Arrested in Spain on US Criminal Charges John McAfee Arrested in Spain on US Criminal Charges John McAfee Arrested in Spain on US Criminal Charges \|\| ALT 5 Sigma Digital Instrument Market Summary for BTC, ETH, LTC, BCH: NEW YORK, NY / ACCESSWIRE / October 5, 2020 /ALT 5 Sigma Inc. an emerging leader in blockchain powered financial platforms provides its daily digital instruments market summary for Bitcoin (BTC/USD), Ether (ETH/USD), Litecoin (LTC/USD). Real-Time Market Data is available atwww.alt5pro.comand Real-Time Market Data feed is also available atwww.alt5sigma.comALT 5 Sigma Digital Instrument Market Summary for BTC, ETH, LTC, BCH About ALT 5 Sigma Inc. ALT 5 is a fintech company specializing in the development and deployment of digital assets trading and exchange platforms. Alt 5 was founded by financial industry specialists out of the necessity to provide the digital asset economy with security, accessibility, transparency and compliance. ALT 5 provides its clients the ability to buy, sell and hold digital assets in a safe and secure environment deployed with the best practices of the financial industry. ALT 5's products and services are available to Banks, Broker Dealers, Funds, Family Offices, Professional Traders, Retail Traders, Digital Asset Exchanges, Digital Asset Brokers, Blockchain Developers, and Financial Information Providers. ALT 5's digital asset custodian services are secured by GardaWorld. GardaWorld is the world's largest privately-owned business solutions and security services company, offering cash management services. For more information, visitwww.alt5sigma.com. Contact: Andre BeauchesneTel. [email protected] For more information on ALT 5 Pay, visitwww.alt5pay.comFor more information on ALT 5 Pro, visitwww.alt5pro.com SOURCE:ALT 5 Sigma Inc. View source version on accesswire.com:https://www.accesswire.com/609198/ALT-5-Sigma-Digital-Instrument-Market-Summary-for-BTC-ETH-LTC-BCH \|\| ALT 5 Sigma Digital Instrument Market Summary for BTC, ETH, LTC, BCH: NEW YORK, NY / ACCESSWIRE / October 5, 2020 / ALT 5 Sigma Inc. an emerging leader in blockchain powered financial platforms provides its daily digital instruments market summary for Bitcoin (BTC/USD), Ether (ETH/USD), Litecoin (LTC/USD). Real-Time Market Data is available at www.alt5pro.com and Real-Time Market Data feed is also available at www.alt5sigma.com ALT 5 Sigma Digital Instrument Market Summary for BTC, ETH, LTC, BCH About ALT 5 Sigma Inc. ALT 5 is a fintech company specializing in the development and deployment of digital assets trading and exchange platforms. Alt 5 was founded by financial industry specialists out of the necessity to provide the digital asset economy with security, accessibility, transparency and compliance. ALT 5 provides its clients the ability to buy, sell and hold digital assets in a safe and secure environment deployed with the best practices of the financial industry. ALT 5's products and services are available to Banks, Broker Dealers, Funds, Family Offices, Professional Traders, Retail Traders, Digital Asset Exchanges, Digital Asset Brokers, Blockchain Developers, and Financial Information Providers. ALT 5's digital asset custodian services are secured by GardaWorld. GardaWorld is the world's largest privately-owned business solutions and security services company, offering cash management services. For more information, visit www.alt5sigma.com . Contact: Andre Beauchesne Tel. 1-800-204-6203 [email protected] For more information on ALT 5 Pay, visit www.alt5pay.com For more information on ALT 5 Pro, visit www.alt5pro.com SOURCE: ALT 5 Sigma Inc. View source version on accesswire.com: https://www.accesswire.com/609198/ALT-5-Sigma-Digital-Instrument-Market-Summary-for-BTC-ETH-LTC-BCH View comments \|\| ALT 5 Sigma Digital Instrument Market Summary for BTC, ETH, LTC, BCH: NEW YORK, NY / ACCESSWIRE / October 5, 2020 /ALT 5 Sigma Inc. an emerging leader in blockchain powered financial platforms provides its daily digital instruments market summary for Bitcoin (BTC/USD), Ether (ETH/USD), Litecoin (LTC/USD). Real-Time Market Data is available atwww.alt5pro.comand Real-Time Market Data feed is also available atwww.alt5sigma.comALT 5 Sigma Digital Instrument Market Summary for BTC, ETH, LTC, BCH About ALT 5 Sigma Inc. ALT 5 is a fintech company specializing in the development and deployment of digital assets trading and exchange platforms. Alt 5 was founded by financial industry specialists out of the necessity to provide the digital asset economy with security, accessibility, transparency and compliance. ALT 5 provides its clients the ability to buy, sell and hold digital assets in a safe and secure environment deployed with the best practices of the financial industry. ALT 5's products and services are available to Banks, Broker Dealers, Funds, Family Offices, Professional Traders, Retail Traders, Digital Asset Exchanges, Digital Asset Brokers, Blockchain Developers, and Financial Information Providers. ALT 5's digital asset custodian services are secured by GardaWorld. GardaWorld is the world's largest privately-owned business solutions and security services company, offering cash management services. For more information, visitwww.alt5sigma.com. Contact: Andre BeauchesneTel. [email protected] For more information on ALT 5 Pay, visitwww.alt5pay.comFor more information on ALT 5 Pro, visitwww.alt5pro.com SOURCE:ALT 5 Sigma Inc. View source version on accesswire.com:https://www.accesswire.com/609198/ALT-5-Sigma-Digital-Instrument-Market-Summary-for-BTC-ETH-LTC-BCH \|\| Mystery shopper, fake job offers target people stretched for cash during pandemic: Tosha Waggoner, 33, would love to land a job, but she wasn't sure that depositing a $6,000 check that arrived out of the blue was the right way to get one. Admittedly, her job hunting prospects have been bleak after she gave birth to a daughter in April, when many businesses had closed their doors during the pandemic. Her fiancé isn't working either, but he's going to a union trade school for masonry. They could use the money, like most people during the economic downturn. "It was a straight up check," Waggoner said. The instructions, sent in August by a supervisor named Michael, indicated that she'd need to deposit the $6,000 check to buy gift cards, take photos of the numbers on the gift cards and send them to Michael. There was something involving a Bitcoin account, too. After all was said and done, Waggoner was told she would get to keep about $330 of the $6,000 for her pay. Scammers told Tracy Taschereau to put money on Best Buy gift cards after they deposited fake checks into her account to make it seem like she had money and could qualify for a loan. She read off the numbers on the phone, enabling scammers to have quick access to the cash. Still no relief check? Remember an Oct. 15 deadline is coming up Saw recall: Kobalt cordless saws sold at Lowe's recalled for 'laceration hazard' More than a few things about that check made her think twice: Who, after all, sends $6,000 checks out of the blue? And who needs a Bitcoin account to hold a job? Fake job offers are flooding email accounts and mailboxes, according to consumers looking for work. Many typically involve better-than-expected pay, gift cards, a quick online interview and yes, a check out of the blue. One hot scam asks mystery shoppers to see whether COVID-19 safety procedures are being practiced at Walmart and elsewhere. Consumers report being sent checks of $1,475 and being told they'll make $425 for shopping at two Walmart stores and a bank. The checks look like they've cleared the bank in a couple of days but weeks later, they're discovered to be fakes , long after the consumer has lost hundreds of dollars to the scam. No legitimate business is going to pay in advance, then ask you to return some of the money or buy gift cards or pay for supplies. Story continues "These kind of job scams have always been popular, but criminals are doubling down when they know millions of people have lost their jobs during the pandemic," said Amy Nofziger, director of the AARP Fraud Watch Network. Fake jobs look like a perfect fit Someone looking for a job shouldn't overlook the possibility that a con artist can create the perfect job, based on a target's education and skill set before sending a text or email. "A lot of time when people are looking for jobs, they will publicly post their resumés," Nofziger said. The fraudsters know if a person just graduated with an arts degree or is interested in the social services field. "When they target you with a tighter arrow, you're more likely to think they really want me because they did their research on me," Nofziger said. Some offers sound like they're from real nonprofit organizations, government agencies or actual businesses. The con artists are only impersonating the real deal. Students report getting an email that looks like it's from their college's Job Placement and Student Services office. People might be offered a chance to work remotely or take advantage of flexible hours, something that can sound quite tempting if they're short on cash and must play hall monitor for school-age children taking online classes at home. Many lose big money after phony promises The employment scam can be one of the riskiest for students, young consumers, military spouses and others, given the level of monetary losses and percentage of reports that involve victims, according to the Better Business Bureau. The median loss was $1,500 for employment scams, according to a BBB report in 2019. The losses are about half of those for romance scams but often far greater than those for online shopping scams, tech support scams, and scams involving advance fees for loans. The employment scam made up 9.3% of all scams reported to BBB Scam Tracker in 2019. Beware of the Google Hangouts job interview Julie Graham, a graduate of the University of Michigan-Flint with a bachelor's degree in Fine Arts , said she thought she had a possible interview on Google Hangouts with a man who claimed to be Samuel Galvan, hiring manager for the GEA Group. He emailed her, claiming he found her resumé on Indeed. "The whole interview seemed wonky from the start, and I was getting a gut feeling things were not right," said Graham, 44, from Flint. Julie Graham, a graduate from the University of Michigan-Flint, had an interview on Google Hangouts for a job that promised $45 a hour but required that she deposit a check to buy supplies. She fears it was a scam. A promise of $45 an hour for an entry-level graphic designer job seemed too good to be true. The interviewer made unusual statements in a two-hour, text-only interview process, such as: "GEA Group is establishing a branch office in your area in the next couple of months. Hence, we are recruiting via online potential employees who would eventually have an office space." "For now," the interviewer said, "this is going to be an online and work from home job. The working hours are flexible where you could choose to work from anywhere of your choice." Graham, who lost her hearing as an adult, said she appreciated a chance to interview initially by text but found the conversation extremely odd. "Because of my hearing disability," she said, "I never really believe what people say." The interviewer wanted her to hand over personal information so a check could be sent to get programs up and running so she could work from home. She told him she needed more proof that the job was real, and that seemed to be the end of that. She never got a response from him. "I am convinced they were aiming to scam," Graham said. She admitted she has no real proof she was about to be ripped off, but all the signs of a scam were there including that scammers often do interviews chatting via Google Hangouts. When she emailed the company named, she received a response telling her that this was a scam and she shouldn't pay any money or share personal information. Another college-age job hunter in New York received an e-letter out of the blue, promising a work-from-home opportunity at the Center for Disability Services in Albany, New York. The salary range was $400 to $600 a week. The center notes on its website, "The Center for Disability Services does not send unsolicited offers of employment nor does it request candidates to advance or cover expenses on the Centers behalf." As part of the scam, the applicant was asked to buy special paper at an office supply store that could be used to print checks. The applicant was supposed to fill out and deposit one electronically into his account. The job applicant thought something wasn't right, talked with family members and didn't print any checks. Don't cash a check or give bank account info rmation Michigan Attorney General Dana Nessel's office said it's gotten reports that scammers ask for bank account information as part of a job offer. "The obvious concern there is scammers then have access to your finances and can steal your money or potentially use your account for other purposes," said Ryan Jarvi, press secretary for the attorney general. In an old scam, the target is sent a check that looks authentic but is fake. Scammers bank on how the check clearing system works, tricking the target that a check is real because the money is available in a few days. Some scammers say, "As soon as the funds are made available by your bank, withdraw the money" to do a job as a mystery shopper, cover an "accidental overpayment," buy gift cards or follow other steps. The fake check will bounce, but it may be weeks before that sad fact is discovered. And the victim is out whatever money was wired, spent or put on gift cards. Michigan consumers can file complaints with the office's consumer protection team at mi.gov/agcomplaints. People can file complaints about job scams with the Federal Trade Commission at FTC.gov or the Better Business Bureau's scam tracker at BBB.org/scamtracker. Given all the pressures many people face, some might believe they've got a real job prospect. Waggoner spotted another red flag before she could be taken for big money. Why, she wondered, did this job offer involve a Bitcoin account? Her fiancé lost money after getting hit by a scam involving Bitcoin so both of them were hesitant. Good thing she didn't fall for it or else she could have lost up to $6,000 when she deposited that check and it bounced weeks later, leaving her on the hook for the money used to buy gift cards. The scammers could have accessed the cash when she handed over the numbers on the gift cards. "As soon as I saw Bitcoin, I just ripped it up and threw a million pieces into the garbage can," Waggoner said. Waggoner said she gets texts every day about some kind of odd job. "I've been getting these messages ever since this stupid pandemic has been going on," Waggoner said. Contact Susan Tompor v ia [email protected] . Follow her on Twitter @ tompor . To subscribe, please go to freep.com/specialoffer. R ead more on business and sign up for our business newsletter . This article originally appeared on Detroit Free Press: Mystery shopper, fake job offers target people stretched for cash \|\| Mystery shopper, fake job offers target people stretched for cash during pandemic: Tosha Waggoner, 33, would love to land a job, but she wasn't sure that depositing a $6,000 check that arrived out of the blue was the right way to get one. Admittedly, her job hunting prospects have been bleak after she gave birth to a daughter in April, when many businesses had closed their doors during the pandemic. Her fiancé isn't working either, but he's going to a union trade school for masonry. They could use the money, like most people during the economic downturn. "It was a straight up check," Waggoner said. The instructions, sent in August by a supervisor named Michael, indicated that she'd need to deposit the $6,000 check to buy gift cards, take photos of the numbers on the gift cards and send them to Michael. There was something involving a Bitcoin account, too. After all was said and done,Waggoner was told she would get to keep about $330 of the $6,000 for her pay. Still no relief check?Remember an Oct. 15 deadline is coming up Saw recall:Kobalt cordless saws sold at Lowe's recalled for 'laceration hazard' More than a few things about that check made her think twice: Who, after all, sends $6,000 checks out of the blue? And who needs a Bitcoin account to hold a job? Fake job offers are flooding email accounts and mailboxes, according to consumers looking for work. Many typically involve better-than-expected pay, gift cards, a quick online interview – and yes, a check out of the blue. One hot scam asks mystery shoppers to see whether COVID-19 safety procedures are being practiced at Walmart and elsewhere. Consumers report being sent checks of $1,475 and being told they'll make $425 for shopping at two Walmart stores and a bank. The checks look like they've cleared the bank in a couple of days – but weeks later, they're discovered to befakes, long after the consumer has lost hundreds of dollars to the scam. No legitimate business is going topay in advance,then ask you to return some of the money or buy gift cards or pay for supplies. "These kind of job scams have always been popular, but criminals are doubling down when they know millions of people have lost their jobs during the pandemic," said Amy Nofziger, director of the AARP Fraud Watch Network. Someone looking for a job shouldn't overlook the possibility that a con artist can create the perfect job, based on a target's education and skill set before sending a text or email. "A lot of time when people are looking for jobs, they will publicly post their resumés," Nofziger said. The fraudsters know if a person just graduated with an arts degree or is interested in the social services field. "When they target you with a tighter arrow, you're more likely to think they really want me because they did their research on me," Nofziger said. Some offers sound like they're from real nonprofit organizations, government agencies or actual businesses. The con artists are only impersonating the real deal. Students report getting an email that looks like it's from their college's Job Placement and Student Services office. People might be offered a chance to work remotely or take advantage of flexible hours, something that can sound quite tempting if they're short on cash and must play hall monitor for school-age children taking online classes at home. The employment scam can be one of theriskiestfor students, young consumers, military spouses and others,given the level of monetary losses and percentage of reports that involve victims,according to the Better Business Bureau. The median loss was $1,500 for employment scams, according to a BBB report in 2019.The losses are about half of those for romance scams but often far greater than those for online shopping scams, tech support scams, and scams involving advance fees for loans. The employment scam made up9.3% of all scamsreported to BBB Scam Tracker in 2019. Julie Graham, a graduate of the University of Michigan-Flintwith a bachelor's degree in Fine Arts, said she thought she had a possible interview on Google Hangouts with a man who claimed to be Samuel Galvan, hiring manager for the GEA Group. He emailed her, claiming he found her resumé on Indeed. "The whole interview seemed wonky from the start, and I was getting a gut feeling things were not right," said Graham, 44, from Flint. A promise of $45 an hour for an entry-level graphic designer job seemed too good to be true. The interviewer made unusual statements in a two-hour, text-only interview process, such as: "GEA Group is establishing a branch office in your area in the next couple of months. Hence, we are recruiting via online potential employees who would eventually have an office space." "For now," the interviewer said, "this is going to be an online and work from home job. The working hours are flexible where you could choose to work from anywhere of your choice." Graham, who lost her hearing as an adult, said she appreciated a chance to interview initially by text but found the conversation extremely odd. "Because of my hearing disability," she said, "I never really believe what people say." The interviewer wanted her to hand over personal information so a check could be sent to get programs up and running so she could work from home. She told him she needed more proof that the job was real, and that seemed to be the end of that. She never got a response from him. "I am convinced they were aiming to scam," Graham said. She admitted she has no real proof she was about to be ripped off, but all the signs of a scam were there – including that scammers often do interviews chatting via Google Hangouts. When she emailed the company named, she received a response telling her that this was a scam and she shouldn't pay any money or share personal information. Another college-age job hunter in New York received an e-letter out of the blue, promising a work-from-home opportunity at the Center for Disability Services in Albany, New York. The salary range was $400 to $600 a week. The center notes on its website, "The Center for Disability Services does not send unsolicited offers of employment nor does it request candidates to advance or cover expenses on the Center’s behalf." As part of the scam, the applicant was asked to buy special paper at an office supply store that could be used to print checks. The applicant was supposed to fill out and deposit one electronically into his account. The job applicant thought something wasn't right, talked with family members and didn't print any checks. Michigan Attorney General Dana Nessel's office said it's gotten reports that scammers ask for bank account information as part of a job offer. "The obvious concern there is scammers then have access to your finances and can steal your money or potentially use your account for other purposes," said Ryan Jarvi, press secretary for the attorney general. In an old scam, the target is sent a check that looks authentic but is fake. Scammers bank on how the check clearing system works, tricking the target that a check is real because the money is available in a few days. Some scammers say, "As soon as the funds are made available by your bank, withdraw the money" to do a job as a mystery shopper, cover an "accidental overpayment," buy gift cards or follow other steps. The fake check will bounce, but it may be weeks before that sad fact is discovered. And the victim is out whatever money was wired, spent or put on gift cards. Michigan consumerscan file complaints with the office's consumer protection team at mi.gov/agcomplaints. People can file complaints aboutjob scamswith the Federal Trade Commission at FTC.gov or theBetter Business Bureau's scam trackerat BBB.org/scamtracker. Given all the pressures many people face, some might believe they've got a real job prospect. Waggoner spotted another red flag before she could be taken for big money. Why, she wondered, did this job offer involve a Bitcoin account? Her fiancé lost money after getting hit by a scam involving Bitcoin – so both of them were hesitant. Good thing she didn't fall for it – or else she could have lost up to $6,000 when she deposited that check and it bounced weeks later, leaving her on the hook for the money used to buy gift cards. The scammers could have accessed the cash when she handed over the numbers on the gift cards. "As soon as I saw Bitcoin, I just ripped it up and threw a million pieces into the garbage can," Waggoner said. Waggoner said she gets texts every day about some kind of odd job. "I've been getting these messages ever since this stupid pandemic has been going on," Waggoner said. ContactSusan [email protected] her on Twitter@tompor. To subscribe, please go tofreep.com/specialoffer.Read more onbusinessand sign up for ourbusiness newsletter. This article originally appeared on Detroit Free Press:Mystery shopper, fake job offers target people stretched for cash \|\| Fidelity, Vanguard, Schwab Funds Have Been Loading Up on Crypto Mining Stocks: Three of the largest asset managers are diversifying their funds to hold blockchain stocks, throwing more establishment financial might behindbitcoin’stechnology. Charles Schwab has begun purchasing shares of Riot Blockchain, joining Fidelity and Vanguard – already investors in Riot, HIVE Blockchain Technologies, Hut 8 and BC Group – in allocating mutual fund holdings to a cryptocurrency company, according to financial filings with the U.S. Securities and Exchange Commission. The stock purchases also double down on the mutual fund managers’ equity investments and experiments in the space. Schwab this summer invested inAlchemy, an Ethereum application platform, while Vanguard has been pilotingSymbiont’sblockchain for foreign exchange transactions, and Fidelity has adigital assets arm– set to launch atrading serviceand abitcoin index fund– and has backedCoin Metrics,FireblocksandEverledger. Related:DeFi Has a Front-Running Problem. Sparkpool's Potential Fix Is Launching This Month Filings for the first half of this year show Charles Schwab Investment Management, Inc.purchased22,977 Riot shares for $52,000. Two Vanguard funds – theVanguard Index FundandVanguard Valley Forge Index Fund– were invested in 954,229 Riot shares worth $2,118,000, and two Fidelity funds were separately invested in 176,242 Riot shares worth $230,115 (split between aNASDAQ indexandthree market indices) and 2,769,759HIVE sharesworth $1,003,163. Riot Blockchain, based in the U.S., and HIVE Blockchain Technologies, based in Canada, provide services for mining bitcoin, a process where new cryptocurrency is minted. Outside the U.S., a third Fidelity fund – Fidelity International – first acquired this year 10,451,094 shares valued at $1.80 each ofHut 8, a Canadian bitcoin mining company, and 17 million shares priced at HK$6.50 (US$8.30) ofBC Group, a Hong Kong-based digital asset platform, earlier filings indicate. The Riot shares in the two Vanguard funds and a third Vanguard fund – the Vanguard Institutional Index Fund – are back up from the last three years, which ended with them holding a combined 269,610 shares for $7,912,000 in 2017, 187,049 shares for $282,000 in 2018 and 826,391 shares for $925,000 in 2019. Related:Record $166M Ethereum Fees Last Month Were 6 Times Bigger Than Bitcoin's Holdings also ticked up again for the Fidelity fund invested in Riot – the Fidelity Concord Street Trust – which bought 188,277 shares for $1,185,607 ending in 2018 and 159,263 shares for $270,375 ending in 2019. They dipped for the Fidelity Securities Fund invested in HIVE, with 5,792,880 shares for $82,433,000 ending in 2017, 4,972,700 shares for $821,000 ending in 2018 and 2,784,259 shares for $367,980 ending in 2019. The Blackstone Group’s Alternative Investment Funds were also holding Riot Blockchain stock last year, but stopped including it in their portfolios. Also read:Fidelity’s Chief Strategist Starts Bitcoin Index FundCORRECT: 00:40 UTC. Removes reference to Vanguard in last paragraph. • Fidelity, Vanguard, Schwab Funds Have Been Loading Up on Crypto Mining Stocks • Fidelity, Vanguard, Schwab Funds Have Been Loading Up on Crypto Mining Stocks \|\| Fidelity, Vanguard, Schwab Funds Have Been Loading Up on Crypto Mining Stocks: Three of the largest asset managers are diversifying their funds to hold blockchain stocks, throwing more establishment financial might behind bitcoin’s technology. Charles Schwab has begun purchasing shares of Riot Blockchain, joining Fidelity and Vanguard – already investors in Riot, HIVE Blockchain Technologies, Hut 8 and BC Group – in allocating mutual fund holdings to a cryptocurrency company, according to financial filings with the U.S. Securities and Exchange Commission. The stock purchases also double down on the mutual fund managers’ equity investments and experiments in the space. Schwab this summer invested in Alchemy , an Ethereum application platform, while Vanguard has been piloting Symbiont’s blockchain for foreign exchange transactions, and Fidelity has a digital assets arm – set to launch a trading service and a bitcoin index fund – and has backed Coin Metrics , Fireblocks and Everledger . Related: DeFi Has a Front-Running Problem. Sparkpool's Potential Fix Is Launching This Month Filings for the first half of this year show Charles Schwab Investment Management, Inc. purchased 22,977 Riot shares for $52,000. Two Vanguard funds – the Vanguard Index Fund and Vanguard Valley Forge Index Fund – were invested in 954,229 Riot shares worth $2,118,000, and two Fidelity funds were separately invested in 176,242 Riot shares worth $230,115 (split between a NASDAQ index and three market indices ) and 2,769,759 HIVE shares worth $1,003,163. Riot Blockchain, based in the U.S., and HIVE Blockchain Technologies, based in Canada, provide services for mining bitcoin, a process where new cryptocurrency is minted. Outside the U.S., a third Fidelity fund – Fidelity International – first acquired this year 10,451,094 shares valued at $1.80 each of Hut 8 , a Canadian bitcoin mining company, and 17 million shares priced at HK$6.50 (US$8.30) of BC Group , a Hong Kong-based digital asset platform, earlier filings indicate. Story continues The Riot shares in the two Vanguard funds and a third Vanguard fund – the Vanguard Institutional Index Fund – are back up from the last three years, which ended with them holding a combined 269,610 shares for $7,912,000 in 2017, 187,049 shares for $282,000 in 2018 and 826,391 shares for $925,000 in 2019. Related: Record $166M Ethereum Fees Last Month Were 6 Times Bigger Than Bitcoin's Holdings also ticked up again for the Fidelity fund invested in Riot – the Fidelity Concord Street Trust – which bought 188,277 shares for $1,185,607 ending in 2018 and 159,263 shares for $270,375 ending in 2019. They dipped for the Fidelity Securities Fund invested in HIVE, with 5,792,880 shares for $82,433,000 ending in 2017, 4,972,700 shares for $821,000 ending in 2018 and 2,784,259 shares for $367,980 ending in 2019. The Blackstone Group’s Alternative Investment Funds were also holding Riot Blockchain stock last year, but stopped including it in their portfolios. Also read: Fidelity’s Chief Strategist Starts Bitcoin Index Fund CORRECT: 00:40 UTC . Removes reference to Vanguard in last paragraph. Related Stories Fidelity, Vanguard, Schwab Funds Have Been Loading Up on Crypto Mining Stocks Fidelity, Vanguard, Schwab Funds Have Been Loading Up on Crypto Mining Stocks \|\| Romania’s government is set to auction confiscated cryptocurrency for first time: Romania’s National Agency for the Management of Seized Assets will auction off small amounts of Bitcoin and Ether — a first in the country’s history. The auction’s cryptocurrency was confiscated from a fraud case. In the auction, 0.97 of ETH will start at 1,670 Romanian lei ($403 USD) and 0.6 BTC begins at 30,535 lei ($7,382.56 USD). Bidders must be a legal entity, company with “know your customer” procedures, and meet Romania’s requirements of financial laws to fight money laundering. The winning bidder must also provide data on addresses associated with cryptocurrency exchange. Romania is not the first country to hold a state-run auction on cryptocurrency used in financial crimes. In February of 2020, the United States Marshal Service auctioned 4,040 bitcoins ($37 million worth) that were confiscated through various federal criminal, civil, and administrative proceedings, as previously reported . UK police auctioned off £300,000 ($369,000) of criminally seized Bitcoin, Ethereum, XRP, and Bitcoin SV on Sept. 26, 2019. © 2020 The Block Crypto, Inc. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice. [Social Media Buzz] None available.	10668.97, 10915.69, 11064.46, 11296.36, 11384.18, 11555.36, 11425.90, 11429.51, 11495.35, 11322.12
Given the historical Bitcoin prices from the last 90 days, predict the next 10 daily closing prices. The historical prices are: 10796.95, 10974.91, 10948.99, 10944.59, 11094.35, 10938.27, 10462.26, 10538.46, 10246.19, 10760.07, 10692.72, 10750.72, 10775.27, 10709.65, 10844.64, 10784.49, 10619.45, 10575.97, 10549.33, 10669.58, 10793.34, 10604.41, 10668.97, 10915.69, 11064.46, 11296.36, 11384.18, 11555.36, 11425.90, 11429.51, 11495.35, 11322.12, 11358.10, 11483.36, 11742.04, 11916.33, 12823.69, 12965.89, 12931.54, 13108.06, 13031.17, 13075.25, 13654.22, 13271.29, 13437.88, 13546.52, 13781.00, 13737.11, 13550.49, 13950.30, 14133.71, 15579.85, 15565.88, 14833.75, 15479.57, 15332.32, 15290.90, 15701.34, 16276.34, 16317.81, 16068.14, 15955.59, 16716.11, 17645.41, 17804.01, 17817.09, 18621.31, 18642.23, 18370.00, 18364.12, 19107.46, 18732.12, 17150.62, 17108.40, 17717.41, 18177.48, 19625.84, 18803.00, 19201.09, 19445.40, 18699.77, 19154.23, 19345.12, 19191.63, 18321.14, 18553.92, 18264.99, 18058.90, 18803.66, 19142.38.	[Bitcoin Technical Analysis for 2020-12-13] Volume: 25450468637, RSI (14-day): 58.96, 50-day EMA: 16872.74, 200-day EMA: 12906.18 [Wider Market Context] None available. [Recent News (last 7 days)] The Week In Cannabis: Big Money, Mexico, South Carolina, Jay-Z, Martha Stewart, Nicole Kidman And More: Cannabis stocks traded down this week, despite a series of financing announcements and other good news, including a new bill from Congress. GrowGeneration Corp.(NASDAQ:GRWG) wants to raise $125 million via a public offering. The offering was then upsized to $150 million on Wednesday, offering 5 million shares at a price of $30.00 per share. Weedmapsis going public via a merger withSilver Spike Acquisition Corp. (NASDAQ:SSPK), whileLeafLinkclosed a $40 million Series C funding round led by Founders Fund. “Money keeps flowing into the cannabis space as we saw the huge $1.5 billion valuation given to the Weedmaps deal with the Silver Spike SPAC. Not only that, GrowGeneration supersized its offering from $125 million to $150 million. Despite the inconsistent stock performance, there is still a big demand for investment in this industry,” Debra Borchard, editor in chief of Green Market Report, told Benzinga. ETFMG Alternative Harvest ETFsurpassed $1 billion in assets under management. The fund has been trading on NYSE for less than three years, being the first cannabis-focused ETF to list in the United States. Jason Wilson, ETFMG Cannabis Research and Banking, told Benzinga that “there are two key takeaways as it relates to MJ and the significance of achieving this milestone.” Politics The U.S. House of Representatives passed a bill to reduce barriers and broaden scientific research into medical cannabis.According to Marijuana Business Daily, the bill will also enable private manufacturing and distribution of cannabis exclusively for research demands. Both the MORE Act and the Medical Marijuana Research Act are still waiting for a final decision in the Senate.Many experts in the spacethink there are slim chances for either of bill to win Senate approval, the report continued. InSouth Carolina, Republican lawmakersprefiled legislation to allow for medical marijuana. Rep. Bill Herbkersman is the lead sponsor on the bill and attributes his support to his brother, who used cannabis to treat cancer-related symptoms. Herbkersman says no one in South Carolina with a serious illness should have to circumvent the law to attain their needed relief. "Waiting any longer will only add to the suffering that is experienced by those who are plagued with [a] debilitating illness," he voiced, citing the availability of cannabis in 36 other states as another driver. InMexico, the lower houseopted to postpone the cannabis legalizationbill debate to February 2021. This is the third time the current deadline has been extended, following earlier requests. Mexican senators passed adult-use cannabis legalization bill on Nov. 19, with an 82 to 18 vote. Over the five trading days of the week: • TheETFMG Alternative Harvest ETF(NYSE:MJ): lost 4.2% • TheAdvisorShares Pure Cannabis ETF(NYSE:YOLO): was down 4.3% • TheCannabis ETF(NYSE:THCX): tumbled 7.9% • TheAmplify Seymour Cannabis ETF(NYSE:CNBS): fell 4.6% • TheSPDR S&P 500 ETF Trust(NYSE:SPY) was down 1.04%. Canopy Growth Corp.(TSX: WEED) (NASDAQ:CGC) announced that theFranchise Group Inc.(NASDAQ:FRG) subsidiary The Vitamin Shoppe will start to sell the entire collection of Martha Stewart CBD products, becoming the first national retailer to offer the full line. The company later announced a new round of changes to its Canadian operations, following a series of layoffs in April and September. The Smith Falls, Ontario-based company opted to shut down operations at its sites in St. John’s, Newfoundland and Labrador; Fredericton, New Brunswick; Edmonton, Alberta; and Bowmanville, Ontario. The move would impact roughly 220 employees and “streamline its operations and further improve margins,” Canopy noted. In addition, the company also said it would also terminate its Saskatchewan-based outdoor cannabis grow operation. Benzinga Cannabis content is now available in Spanish onEl Planteo. Jushi Holdings Inc.(CSE: JUSH) (OTCQB:JUSHF)’s retail brand Beyond/Hello partnered withHolistic Industriesto help deliver “Garcia Hand Picked” to Santa Barbara cannabis consumers. Long-awaited, cannabis products fromJay-Z’scannabis line Monogram are finally available. Shawn ‘Jay-Z’ Carter’s cannabis line Monogram is the first brand created in collaboration with Caliva, one of the biggest vertically-integrated cannabis companies in the country. Jay Z has been Caliva’s Chief Brand Strategist since July 2019. Rap artist T.I. is backing Georgia-based cannabis companyHarvest Connect LLC.The Atlanta native — a singer/songwriter, producer, record executive and author — has become an investor and equity partner in the company. Cannabis tech companyDutchieteamed up with weed-focused branding agency Highopes to launch Flynt, a system designed to help small cannabis businesses create websites. Touted as “the Squarespace for cannabis," Flynt is said to be seamless and user-friendly. It offers pre-built templates to equip dispensaries with a cost-effective website so cannabis customers can opt for an e-commerce shopping experience. The out-of-the-box solution also includes resources and best practices pointers from experts in the cannabis space. A report from New Frontier Data said annual legal medical and recreational sales are estimated to grow at a compound annual growth rate (CAGR) of 21%, hitting more than $41 billion by 2025, compared to $13.2 billion in 2019. More News From The Week Oscar, Golden Globe, and Emmy Award-winning actressNicole Kidmanwas namedThe Sera Labs Inc.'s first strategic business partner and brand ambassador. According to Thursday’s update, Kidman agreed to endorse the company's topical products. As the "face of the brand," Kidman opted to support the product development at the Los Angeles-based CBD products company. Venom Extracts, which is owned byHollister Biosciences Inc.(CSE: HOLL) (PINK:HSTRF), generated CA$40 million in revenue year to date. This is the second and final revenue milestone Venom accomplished under the acquisition agreement the company inked in March. Recall how Hollister paid CA$20 million for the Arizona-based cannabis extract brand. Venom is also posted a positive adjusted EBITDA of 4.8 million. Hemp and cannabis infusion technology companyVertosastarted offering a propriety Powder-based Emulsion Powder, formulated to infuse CBD into an array of product categories, from nutritional supplements to tea and coffee pods to protein bars, an ensuring fast-acting effects and consistent potency. PharmaCielo(TSXV: PCLO) (OTCQX:PCLOF) partnered with U.S.-basedAssuredTransto offer independent lab tests and analysis for PharmaCielo’s CBD extracts product quality in the U.S. Sundial Growers Inc.(Nasdaq:SNDL) received approval to transfer its listing to the Nasdaq Capital Market. The transfer is expected to take effect on Dec. 15. Power REIT(AMEX: PW), an infrastructure assets-focused real estate investment trust, purchased a 2.11-acre property in Crowley County, Colorado, for $1.3 million. The deal also includes Power REIT's support of an 18,528 square-foot greenhouse and processing facility construction. Red White & Bloom Brands Inc. (CSE: RWB) (OTCQX:RWBYF) launched an exclusive line of High Times branded cannabis products in Michigan. Provisioning Centers can now place pre-orders. Pure Extracts Technologies Corp. (CSE: PULL) decided to join the growing mushroom industry via collaboration with The Nutraceutical Medicine Company Inc. Icanic Brands Co. Inc.(CSE: ICAN) (OTCQB:ICNAF), the company behind Tarantula, announced its intent to buy THC Engineering LLC for $1.75 million. Top Stories Of The Week • Delic: Advancing Psychedelics Education With Help From The Public Markets • What To Know About The Cannabis Advisory Group, Jackie Cornell's New Non-Profit • SLOW Develops Jeans Made From Wild-Growing Himalayan Hemp • The Drug War: A Guide To Understanding The War On Drugs • Keith Haring For The Holidays: Cannabis Glassware Meets Urban Culture • Viridian Chart Of The Week: Have We Seen The Bottom For Hemp? • Saucey Founder: 'It Sucks' That Weed Is Illegal In NY, But Big Plans In Play For 'East Coast Brand' • Entourage Effect's Matt Hawkins To Cannabis Operators: 'Put Egos Aside' To Get Deals Done • From Cola To CBD: CGC's Sol Clahane Discusses Martha Stewart, 2021 And 'Big CPG' Expertise • Is MindMed Creating The Tesla Of Mental Health? Thoughts From CEO JR Rahn, Investor Kevin O'Leary Top Spanish stories: • Neuquén: se Aprobó la Nueva Reglamentación del Cannabis Medicinal • Canadá Aprueba el Uso de Psilocibina para Capacitar Profesionales de la Salud • México: Otro Retraso en la Legalización de la Marihuana • ETF de Cannabis MJ Alcanza los USD 1.000 Millones en Activos • Hostear sin Público, MCs Favoritos y Las Chicas del Free: Habla Queen Mary, la Anfitriona de la Red Bull Internacional 2020 • Hablamos con un Psiquiatra Experto sobre DMT y PsicodélicosDel Dot-Com, Bitcoin y Cannabis Medicinal en Colombia • ¿Qué Pasa Si Fumo Marihuana Todos los Días? • Buenos Aires: Intendente de San Martín Habla del Proyecto de Cannabis Medicinal por Aprobar • El Exorcismo de Frescolate: ¿Por qué el Campeón del Mundo Tuvo que Recurrir al Fuego para Volver a Nacer? • 420 Investor sobre la Industria del Cannabis: ‘Estoy Más Emocionado que Nunca’ Lead image byIlona Szentivanyi. Copyright: Benzinga. See more from Benzinga • Click here for options trades from Benzinga • The Week In Cannabis: MORE Act Passes, UN Vote, Joe Rogan, Will.i.am, Aphria, Canopy And Earnings • The Week In Cannabis: Stocks Skyrocket As Markets Rise, Jay-Z's New Mega Venture And More © 2020 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. \|\| The Week In Cannabis: Big Money, Mexico, South Carolina, Jay-Z, Martha Stewart, Nicole Kidman And More: Cannabis stocks traded down this week, despite a series of financing announcements and other good news, including a new bill from Congress. GrowGeneration Corp. (NASDAQ: GRWG ) wants to raise $125 million via a public offering. The offering was then upsized to $150 million on Wednesday, offering 5 million shares at a price of $30.00 per share. Weedmaps is going public via a merger with Silver Spike Acquisition Corp . (NASDAQ: SSPK ), while LeafLink closed a $40 million Series C funding round led by Founders Fund. “Money keeps flowing into the cannabis space as we saw the huge $1.5 billion valuation given to the Weedmaps deal with the Silver Spike SPAC. Not only that, GrowGeneration supersized its offering from $125 million to $150 million. Despite the inconsistent stock performance, there is still a big demand for investment in this industry,” Debra Borchard, editor in chief of Green Market Report, told Benzinga. ETFMG Alternative Harvest ETF surpassed $1 billion in assets under management. The fund has been trading on NYSE for less than three years, being the first cannabis-focused ETF to list in the United States. Jason Wilson, ETFMG Cannabis Research and Banking, told Benzinga that “there are two key takeaways as it relates to MJ and the significance of achieving this milestone.” Politics The U.S. House of Representatives passed a bill to reduce barriers and broaden scientific research into medical cannabis. According to Marijuana Business Daily , the bill will also enable private manufacturing and distribution of cannabis exclusively for research demands. Both the MORE Act and the Medical Marijuana Research Act are still waiting for a final decision in the Senate. Many experts in the space think there are slim chances for either of bill to win Senate approval, the report continued. In South Carolina , Republican lawmakers prefiled legislation to allow for medical marijuana . Rep. Bill Herbkersman is the lead sponsor on the bill and attributes his support to his brother, who used cannabis to treat cancer-related symptoms. Story continues Herbkersman says no one in South Carolina with a serious illness should have to circumvent the law to attain their needed relief. "Waiting any longer will only add to the suffering that is experienced by those who are plagued with [a] debilitating illness," he voiced, citing the availability of cannabis in 36 other states as another driver. In Mexico , the lower house opted to postpone the cannabis legalization bill debate to February 2021. This is the third time the current deadline has been extended, following earlier requests. Mexican senators passed adult-use cannabis legalization bill on Nov. 19, with an 82 to 18 vote. Over the five trading days of the week: The ETFMG Alternative Harvest ETF (NYSE: MJ ): lost 4.2% The AdvisorShares Pure Cannabis ETF (NYSE: YOLO ): was down 4.3% The Cannabis ETF (NYSE: THCX ): tumbled 7.9% The Amplify Seymour Cannabis ETF (NYSE: CNBS ): fell 4.6% The SPDR S&P 500 ETF Trust (NYSE: SPY ) was down 1.04%. Canopy Growth Corp. (TSX: WEED) (NASDAQ: CGC ) announced that the Franchise Group Inc. (NASDAQ: FRG ) subsidiary The Vitamin Shoppe will start to sell the entire collection of Martha Stewart CBD products, becoming the first national retailer to offer the full line. The company later announced a new round of changes to its Canadian operations, following a series of layoffs in April and September. The Smith Falls, Ontario-based company opted to shut down operations at its sites in St. John’s, Newfoundland and Labrador; Fredericton, New Brunswick; Edmonton, Alberta; and Bowmanville, Ontario. The move would impact roughly 220 employees and “streamline its operations and further improve margins,” Canopy noted. In addition, the company also said it would also terminate its Saskatchewan-based outdoor cannabis grow operation. Benzinga Cannabis content is now available in Spanish on El Planteo . Jushi Holdings Inc. (CSE: JUSH) (OTCQB: JUSHF )’s retail brand Beyond/Hello partnered with Holistic Industries to help deliver “Garcia Hand Picked” to Santa Barbara cannabis consumers. Long-awaited, cannabis products from Jay-Z’s cannabis line Monogram are finally available. Shawn ‘Jay-Z’ Carter’s cannabis line Monogram is the first brand created in collaboration with Caliva, one of the biggest vertically-integrated cannabis companies in the country. Jay Z has been Caliva’s Chief Brand Strategist since July 2019. Rap artist T.I. is backing Georgia-based cannabis company Harvest Connect LLC. The Atlanta native — a singer/songwriter, producer, record executive and author — has become an investor and equity partner in the company. Cannabis tech company Dutchie teamed up with weed-focused branding agency Highopes to launch Flynt, a system designed to help small cannabis businesses create websites. Touted as “the Squarespace for cannabis," Flynt is said to be seamless and user-friendly. It offers pre-built templates to equip dispensaries with a cost-effective website so cannabis customers can opt for an e-commerce shopping experience. The out-of-the-box solution also includes resources and best practices pointers from experts in the cannabis space. A report from New Frontier Data said annual legal medical and recreational sales are estimated to grow at a compound annual growth rate (CAGR) of 21%, hitting more than $41 billion by 2025, compared to $13.2 billion in 2019. More News From The Week Oscar, Golden Globe, and Emmy Award-winning actress Nicole Kidman was named The Sera Labs Inc.'s first strategic business partner and brand ambassador. According to Thursday’s update, Kidman agreed to endorse the company's topical products. As the "face of the brand," Kidman opted to support the product development at the Los Angeles-based CBD products company. Venom Extracts, which is owned by Hollister Biosciences Inc. (CSE: HOLL) (PINK: HSTRF ), generated CA$40 million in revenue year to date. This is the second and final revenue milestone Venom accomplished under the acquisition agreement the company inked in March. Recall how Hollister paid CA$20 million for the Arizona-based cannabis extract brand. Venom is also posted a positive adjusted EBITDA of 4.8 million. Hemp and cannabis infusion technology company Vertosa started offering a propriety Powder-based Emulsion Powder, formulated to infuse CBD into an array of product categories, from nutritional supplements to tea and coffee pods to protein bars, an ensuring fast-acting effects and consistent potency. PharmaCielo (TSXV: PCLO) (OTCQX: PCLOF ) partnered with U.S.-based AssuredTrans to offer independent lab tests and analysis for PharmaCielo’s CBD extracts product quality in the U.S. Sundial Growers Inc. (Nasdaq: SNDL ) received approval to transfer its listing to the Nasdaq Capital Market. The transfer is expected to take effect on Dec. 15. Power REIT (AMEX: PW), an infrastructure assets-focused real estate investment trust, purchased a 2.11-acre property in Crowley County, Colorado, for $1.3 million. The deal also includes Power REIT's support of an 18,528 square-foot greenhouse and processing facility construction. Red White & Bloom Brands Inc . (CSE: RWB) (OTCQX: RWBYF ) launched an exclusive line of High Times branded cannabis products in Michigan. Provisioning Centers can now place pre-orders. Pure Extracts Technologies Corp . (CSE: PULL) decided to join the growing mushroom industry via collaboration with The Nutraceutical Medicine Company Inc. Icanic Brands Co. Inc. (CSE: ICAN) (OTCQB: ICNAF ), the company behind Tarantula, announced its intent to buy THC Engineering LLC for $1.75 million. Top Stories Of The Week Delic: Advancing Psychedelics Education With Help From The Public Markets What To Know About The Cannabis Advisory Group, Jackie Cornell's New Non-Profit SLOW Develops Jeans Made From Wild-Growing Himalayan Hemp The Drug War: A Guide To Understanding The War On Drugs Keith Haring For The Holidays: Cannabis Glassware Meets Urban Culture Viridian Chart Of The Week: Have We Seen The Bottom For Hemp? Saucey Founder: 'It Sucks' That Weed Is Illegal In NY, But Big Plans In Play For 'East Coast Brand' Entourage Effect's Matt Hawkins To Cannabis Operators: 'Put Egos Aside' To Get Deals Done From Cola To CBD: CGC's Sol Clahane Discusses Martha Stewart, 2021 And 'Big CPG' Expertise Is MindMed Creating The Tesla Of Mental Health? Thoughts From CEO JR Rahn, Investor Kevin O'Leary Top Spanish stories: Neuquén: se Aprobó la Nueva Reglamentación del Cannabis Medicinal Canadá Aprueba el Uso de Psilocibina para Capacitar Profesionales de la Salud México: Otro Retraso en la Legalización de la Marihuana ETF de Cannabis MJ Alcanza los USD 1.000 Millones en Activos Hostear sin Público, MCs Favoritos y Las Chicas del Free: Habla Queen Mary, la Anfitriona de la Red Bull Internacional 2020 Hablamos con un Psiquiatra Experto sobre DMT y Psicodélicos Del Dot-Com, Bitcoin y Cannabis Medicinal en Colombia ¿Qué Pasa Si Fumo Marihuana Todos los Días? Buenos Aires: Intendente de San Martín Habla del Proyecto de Cannabis Medicinal por Aprobar El Exorcismo de Frescolate: ¿Por qué el Campeón del Mundo Tuvo que Recurrir al Fuego para Volver a Nacer? 420 Investor sobre la Industria del Cannabis: ‘Estoy Más Emocionado que Nunca’ Lead image by Ilona Szentivanyi . Copyright: Benzinga. See more from Benzinga Click here for options trades from Benzinga The Week In Cannabis: MORE Act Passes, UN Vote, Joe Rogan, Will.i.am, Aphria, Canopy And Earnings The Week In Cannabis: Stocks Skyrocket As Markets Rise, Jay-Z's New Mega Venture And More © 2020 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. \|\| Benzinga's Bulls And Bears Of The Week: Boeing, Netflix, Nike, Starbucks And More: • Benzinga has examined the prospects for many investorfavorite stocksover the past week. • The week's bullish calls included the iPhone maker and aerospace and apparel leaders. • A top electric vehicle maker and a COVID-19 vaccine play were among the more bearish calls. Though the year is in the home stretch now, the past week was still a busy one. Perhaps the biggest news was that thefirst COVID-19 vaccinewas approved for use in the United States, and it looks like there will bemore to come. Still, the big U.S. indexes ended the week slightly lower, led by the S&P 500's 1% retreat. The iPhone maker said it will bringmore productionin house, and it also tossed its hat in theautonomous vehiclering. Like most companies, it is stilladjusting to the pandemic. Meanwhile, regulators came down hard on asocial media leaderthis past week. It was also a week whenthe 737-Maxtook to the skies again, somepetroleum giantsmay have to look more toward the future, and there was speculation that theelectric vehicle leadermay be looking for a new home. Plus anentertainment colossusmade a splash late in the week. The inauguralBenzinga Global Small Cap Conferencehappened this past week too. Through it all, Benzinga continued to examine the prospects for many of the stocks most popular with investors. Here are a few of this past week's most bullish and bearish posts that are worth another look. Bulls "Apple Gets 0 Bull Case Target From Wedbush On Strongest Product Cycle Since 2014" by Shivdeep Dhaliwal examines why an analyst sees "major tailwinds" forApple Inc.(NASDAQ:AAPL) stock, including strong iPhone 12 demand. In "UBS Upgrades Boeing, Spirit AeroSystems, Doubles Price Targets," Wayne Duggan discusses how expectations for a highly effective coronavirus vaccine have catalyzed the beginning of an aerospace upcycle — good news forBoeing Co(NYSE:BA). Nike Inc(NYSE:NKE) is a growth company that has performed well during the pandemic, with its shift to digital and a move away from undifferentiated products. So says Priya Nigam's "KeyBanc Bullish On Nike's E-Commerce Opportunity." Aditya Raghunath's "What Do Wall Street Analysts Think After Starbucks Investor Day?" focuses on why analysts believeStarbucks Corporation(NASDAQ:SBUX) stock has a lot of near-term momentum and is expected perform well next year. For additional bullish calls of the past week, also have a look at the following: • Kevin O'Leary: 'I'm So Glad I'm An Investor In America 2.0' • Why BofA Projects 'Continued Recovery In Oil Prices' • Bitcoin Rally Could See Further Support As Institutional Investors Face FOMO, Analyst Says Bears In Shivdeep Dhaliwal's "Tesla Gets Downgrade From Long-Term Bull Pierre Ferragu, Analyst Says Time To Book Profits," see why investors may want to take someTesla Inc(NASDAQ:TSLA) profits ahead of the stock's inclusion in the S&P 500. "Needham Sticks To Its Streaming War Stance: Buy Roku, Sell Netflix" by Jayson Derrick makes the case that, contrary to popular belief,Netflix Inc(NASDAQ:NFLX) is not an industry leader. See what investors should favor instead. Shanthi Rexaline's "Moderna Analyst Positive On Coronavirus Vaccine Progress, Downgrades Shares On Valuation" shows why aModerna Inc(NASDAQ:MRNA) analyst stepped to the sidelines last week. TheHelmerich & Payne, Inc.(NYSE:HP) stock valuation appears "stretched," even with a more optimistic U.S. rig count forecast for the near term, according to "BofA Downgrades Helmerich & Payne On Valuation" by Priya Nigam. Be sure to check out the following additional bearish calls: • Feeling Good About Your Investments? Here's Why That Could Be A Bad Sign • Cramer Says Time To Take Profit In These Electric Vehicle SPAC Stocks At the time of this writing, the author had no position in the mentioned equities. Keep up with all the latest breaking news and trading ideas by followingBenzingaon Twitter. See more from Benzinga • Click here for options trades from Benzinga • Barron's Latest Picks And Pans: Airbnb, Bank Stocks, Dividend Aristocrats And More • Notable Insider Buys of the Past Week: Foot Locker, Icahn Enterprises, Kraft Heinz And More © 2020 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. \|\| Benzinga's Bulls And Bears Of The Week: Boeing, Netflix, Nike, Starbucks And More: Benzinga has examined the prospects for many investor favorite stocks over the past week. The week's bullish calls included the iPhone maker and aerospace and apparel leaders. A top electric vehicle maker and a COVID-19 vaccine play were among the more bearish calls. Though the year is in the home stretch now, the past week was still a busy one. Perhaps the biggest news was that the first COVID-19 vaccine was approved for use in the United States, and it looks like there will be more to come . Still, the big U.S. indexes ended the week slightly lower, led by the S&P 500's 1% retreat. The iPhone maker said it will bring more production in house, and it also tossed its hat in the autonomous vehicle ring. Like most companies, it is still adjusting to the pandemic . Meanwhile, regulators came down hard on a social media leader this past week. It was also a week when the 737-Max took to the skies again, some petroleum giants may have to look more toward the future, and there was speculation that the electric vehicle leader may be looking for a new home. Plus an entertainment colossus made a splash late in the week. The inaugural Benzinga Global Small Cap Conference happened this past week too. Through it all, Benzinga continued to examine the prospects for many of the stocks most popular with investors. Here are a few of this past week's most bullish and bearish posts that are worth another look. Bulls " Apple Gets 0 Bull Case Target From Wedbush On Strongest Product Cycle Since 2014 " by Shivdeep Dhaliwal examines why an analyst sees "major tailwinds" for Apple Inc. (NASDAQ: AAPL ) stock, including strong iPhone 12 demand. In " UBS Upgrades Boeing, Spirit AeroSystems, Doubles Price Targets ," Wayne Duggan discusses how expectations for a highly effective coronavirus vaccine have catalyzed the beginning of an aerospace upcycle — good news for Boeing Co (NYSE: BA ). Nike Inc (NYSE: NKE ) is a growth company that has performed well during the pandemic, with its shift to digital and a move away from undifferentiated products. So says Priya Nigam's " KeyBanc Bullish On Nike's E-Commerce Opportunity ." Story continues Aditya Raghunath's " What Do Wall Street Analysts Think After Starbucks Investor Day? " focuses on why analysts believe Starbucks Corporation (NASDAQ: SBUX ) stock has a lot of near-term momentum and is expected perform well next year. For additional bullish calls of the past week, also have a look at the following: Kevin O'Leary: 'I'm So Glad I'm An Investor In America 2.0' Why BofA Projects 'Continued Recovery In Oil Prices' Bitcoin Rally Could See Further Support As Institutional Investors Face FOMO, Analyst Says Bears In Shivdeep Dhaliwal's " Tesla Gets Downgrade From Long-Term Bull Pierre Ferragu, Analyst Says Time To Book Profits ," see why investors may want to take some Tesla Inc (NASDAQ: TSLA ) profits ahead of the stock's inclusion in the S&P 500. " Needham Sticks To Its Streaming War Stance: Buy Roku, Sell Netflix " by Jayson Derrick makes the case that, contrary to popular belief, Netflix Inc (NASDAQ: NFLX ) is not an industry leader. See what investors should favor instead. Shanthi Rexaline's " Moderna Analyst Positive On Coronavirus Vaccine Progress, Downgrades Shares On Valuation " shows why a Moderna Inc (NASDAQ: MRNA ) analyst stepped to the sidelines last week. The Helmerich & Payne, Inc. (NYSE: HP ) stock valuation appears "stretched," even with a more optimistic U.S. rig count forecast for the near term, according to " BofA Downgrades Helmerich & Payne On Valuation " by Priya Nigam. Be sure to check out the following additional bearish calls: Feeling Good About Your Investments? Here's Why That Could Be A Bad Sign Cramer Says Time To Take Profit In These Electric Vehicle SPAC Stocks At the time of this writing, the author had no position in the mentioned equities. Keep up with all the latest breaking news and trading ideas by following Benzinga on Twitter. See more from Benzinga Click here for options trades from Benzinga Barron's Latest Picks And Pans: Airbnb, Bank Stocks, Dividend Aristocrats And More Notable Insider Buys of the Past Week: Foot Locker, Icahn Enterprises, Kraft Heinz And More © 2020 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. \|\| The Bitcoin Banking Battle Heats Up: Banks are moving into crypto and crypto companies are trying to become banks, so how does it all play out? Formore episodesand free early access before our regular 3 p.m. Eastern time releases, subscribe withApple Podcasts,Spotify,Pocketcasts,Google Podcasts,Castbox,Stitcher,RadioPublica,iHeartRadioorRSS. This episode is sponsored byCrypto.com,Nexo.ioand this week’s special product launchLVL.co. Related:‘COVID-19 Was a Catalyst’: Henri Arslanian on a ‘Game-Changing’ Year for Crypto and 10 Predictions for 2021 Download this episode On this edition of the weekly recap, NLW looks at the brewing battle to be thebitcoinand crypto bank of the future. He looks at three stories reporting banks getting into crypto (BBVA, Standard Chartered and DBS) as well as crypto companies applying to become banks. Finally, he examines why this is happening right now, and what are the true stakes of the game. This week on The Breakdown: • Monday \|China’s Latest Digital Currency Trial Is Its Most Important Yet • Tuesday \|A De Facto Bitcoin ETF? MicroStrategy Is Raising $400M to Buy More BTC • Wednesday \|The Most Important Trends and People Shaping Crypto 2020, With Ryan Selkis • Thursday \|SEC Commissioner Hester Peirce on a Bitcoin ETF, Custody Rules and What’s Next for the SEC • Friday \|Why a Massive 169-Year-Old Insurance Company Just Bought $100M in Bitcoin Formore episodesand free early access before our regular 3 p.m. Eastern time releases, subscribe withApple Podcasts,Spotify,Pocketcasts,Google Podcasts,Castbox,Stitcher,RadioPublica,iHeartRadioorRSS. • The Bitcoin Banking Battle Heats Up • The Bitcoin Banking Battle Heats Up • The Bitcoin Banking Battle Heats Up \|\| The Bitcoin Banking Battle Heats Up: Banks are moving into crypto and crypto companies are trying to become banks, so how does it all play out? Formore episodesand free early access before our regular 3 p.m. Eastern time releases, subscribe withApple Podcasts,Spotify,Pocketcasts,Google Podcasts,Castbox,Stitcher,RadioPublica,iHeartRadioorRSS. This episode is sponsored byCrypto.com,Nexo.ioand this week’s special product launchLVL.co. Related:‘COVID-19 Was a Catalyst’: Henri Arslanian on a ‘Game-Changing’ Year for Crypto and 10 Predictions for 2021 Download this episode On this edition of the weekly recap, NLW looks at the brewing battle to be thebitcoinand crypto bank of the future. He looks at three stories reporting banks getting into crypto (BBVA, Standard Chartered and DBS) as well as crypto companies applying to become banks. Finally, he examines why this is happening right now, and what are the true stakes of the game. This week on The Breakdown: • Monday \|China’s Latest Digital Currency Trial Is Its Most Important Yet • Tuesday \|A De Facto Bitcoin ETF? MicroStrategy Is Raising $400M to Buy More BTC • Wednesday \|The Most Important Trends and People Shaping Crypto 2020, With Ryan Selkis • Thursday \|SEC Commissioner Hester Peirce on a Bitcoin ETF, Custody Rules and What’s Next for the SEC • Friday \|Why a Massive 169-Year-Old Insurance Company Just Bought $100M in Bitcoin Formore episodesand free early access before our regular 3 p.m. Eastern time releases, subscribe withApple Podcasts,Spotify,Pocketcasts,Google Podcasts,Castbox,Stitcher,RadioPublica,iHeartRadioorRSS. • The Bitcoin Banking Battle Heats Up • The Bitcoin Banking Battle Heats Up • The Bitcoin Banking Battle Heats Up \|\| The Bitcoin Banking Battle Heats Up: Banks are moving into crypto and crypto companies are trying to become banks, so how does it all play out? For more episodes and free early access before our regular 3 p.m. Eastern time releases, subscribe with Apple Podcasts , Spotify , Pocketcasts , Google Podcasts , Castbox , Stitcher , RadioPublica , iHeartRadio or RSS . This episode is sponsored by Crypto.com , Nexo.io and this weeks special product launch LVL.co . Related: COVID-19 Was a Catalyst: Henri Arslanian on a Game-Changing Year for Crypto and 10 Predictions for 2021 Download this episode On this edition of the weekly recap, NLW looks at the brewing battle to be the bitcoin and crypto bank of the future. He looks at three stories reporting banks getting into crypto (BBVA, Standard Chartered and DBS) as well as crypto companies applying to become banks. Finally, he examines why this is happening right now, and what are the true stakes of the game. This week on The Breakdown: Monday \| Chinas Latest Digital Currency Trial Is Its Most Important Yet Tuesday \| A De Facto Bitcoin ETF? MicroStrategy Is Raising $400M to Buy More BTC Wednesday \| The Most Important Trends and People Shaping Crypto 2020, With Ryan Selkis Thursday \| SEC Commissioner Hester Peirce on a Bitcoin ETF, Custody Rules and Whats Next for the SEC Friday \| Why a Massive 169-Year-Old Insurance Company Just Bought $100M in Bitcoin For more episodes and free early access before our regular 3 p.m. Eastern time releases, subscribe with Apple Podcasts , Spotify , Pocketcasts , Google Podcasts , Castbox , Stitcher , RadioPublica , iHeartRadio or RSS . Related Stories The Bitcoin Banking Battle Heats Up The Bitcoin Banking Battle Heats Up The Bitcoin Banking Battle Heats Up \|\| The American heartland needs jobs. Could Bitcoin mining become its next savior?: A startup called Core Scientific announced this week that it has raised $23 million to expand its cryptocurrency mining operations. The company, based in Bellevue, Wash., is already running crypto mines in North Carolina, Georgia, and Kentucky, and plans to open more before long. It’s not hard to understand why. Right now, a single Bitcoin—the digital mining equivalent of a gold nugget—is worth around $20,000. Mining a single Bitcoin block brings a reward of 6.25 of them, or about $125,000. If Core Scientific’s mining ventures are successful, the company will not just make a lot of money. It will also help to repatriate crypto production to the United States, where Bitcoin got its start. The recent resurgence in crypto mining feels like a good-news story. Mining companies like Core Scientific are in a position to make money and create jobs in rural areas, while also ensuring more Bitcoin—which is becoming a strategic asset—ends up in American hands. But there are also reasons for caution. The last crypto-mining boom promised similar benefits but resulted in fly-by-night companies leaving a trail of scams and environmental degradation in their wake. Will the outcome be any different this time? Digital picks and shovels Mining cryptocurrency is different from conventional mining in some obvious ways. There’s no excavating and hauling ore. And the tools of the trade are not pickaxes and dynamite. Instead, crypto miners rely on two things to make a living: custom-designed computer chips and a torrent of electricity. A crypto-mining operation looks like this: In order to find a digital nugget, crypto miners pit their computers against others around the world in a race to solve complex math problems. The computer that solves the problem broadcasts the solution to others on the network and, in doing so, adds a block to the blockchain —a tamperproof ledger that serves as a public record of transactions. For their trouble, the owner of the winning computer pockets the “block reward,” which is 6.25 Bitcoins in the case of Bitcoin plus transaction fees. The process is repeated every 10 minutes or so. Story continues In the early days, when it was still viable to mine Bitcoin with a home laptop, a large proportion of crypto mining took place in the U.S. But as the computer power needed to solve the math problems increased, Chinese mining operations came to dominate. The Chinese miners enjoyed two advantages: easy access to cheap power, including in places like Mongolia, and a domestic manufacturing base capable of cranking out so-called mining rigs—computers with custom chips made just for mining. While there are other mining operations around the globe, China remains far and away the leader, as can be seen in this chart from the Cambridge Centre for Alternative Finance: Now, some U.S. companies believe they can wrest some of the mining pie back from China. In the case of Core Scientific, it has struck arrangements for cheap power across five sites, spanning over 100 acres in total, in Dalton, Ga., Marble, N.C., and Calvert City, Ky. The firm has also cut deals with Chinese manufacturers to get first dibs on the newest mining rigs, and plans to mine not just Bitcoin but so-called alt coins like Litecoin, Bitcoin Cash, Zcash, and Ethereum. Core Scientific is now one of the biggest U.S. miners, but its operations are part of a still larger plan. That plan is being steered by an outfit called Foundry, which is behind the just announced $23 million investment in Core Scientific. Foundry is a subsidiary of Digital Currency Group (DCG), a sprawling crypto conglomerate that recently announced it would spend $100 million on mining initiatives. According to Foundry CEO Mike Colyer, boosting crypto production in the U.S. will serve to strengthen Bitcoin’s network by diversifying the miners who maintain it. “The only way Bitcoin works is when it’s distributed through the world and when it’s decentralized,” says Colyer, who predicts the share of U.S.-produced Bitcoin could rise to 25% in the next few years. Put another way, the U.S. mining ventures will help ensure that no consortium of miners can collude to manipulate the blockchain network. Such collusion requires a single entity to control over 50% of the network—a risk that is is remote in the case of Bitcoin, but which has transpired in the case of smaller digital currencies. Foundry’s mining initiatives offer the promise of strengthening Bitcoin’s network—and, of course, giving the company a chance to make money—but may also reflect another strategic imperative. Namely, as demand for Bitcoin increases in the market, more companies may wish to have a private supply of it to facilitate trading operations. In the case of DCG, which has a giant consumer Bitcoin business, Foundry’s ventures may help facilitate vertical integration. “Mining is a great way to accumulate Bitcoin. With the correct setup, you can mine it cheaper than you can buy it,” says Amanda Fabiano, who formerly oversaw mining operations at investment giant Fidelity and now does the same for crypto-trading firm Galaxy Digital. The best use of power in a “carbon-challenged world”? To get a different perspective on Bitcoin mining in North America, I spoke to Steve Wright, the general manager of a public utility in Chelan County, Wash. During the last big Bitcoin boom in 2017, Wright had to contend with a crush of mining companies asking to tap into the county’s ample hydroelectric resources. “We had a lot of companies come in and say, ‘We’re going to do great things,’ and then they would be gone from the face of the earth,” Wright recalls. “People would say, ‘We’re here for long term,’ and then nobody would pick up the phone.” Problems also came in the form of reckless operators who overloaded transformers, triggering fires. Meanwhile, the crypto miners who wanted to set up shop demanded the low electricity rates available to locals. For Wright, agreeing to those demands risked undercutting the profits the utility earned from selling its hydropower at higher rates to outside markets. Wright also faced pushback from county residents who questioned whether it was ethical to expend energy on something like Bitcoin mining. “When you have a green supply of power and you have a carbon-challenged world, people were asking if this is the best use of that power,” said Wright, whose job involves overseeing Columbia River dams like the one below. The debate over the environmental impact of crypto mining is not restricted to Chelan County. The payment giant Square, which recently bought $50 million of Bitcoin for its corporate treasury, announced a $10 million pledge this week to support a “Bitcoin Clean Energy” initiative as part of a larger plan to become carbon neutral by 2030. Meanwhile, other U.S. companies are finding creative ways to reduce Bitcoin’s environmental impact. Fabiano of Galaxy Digital pointed to three firms in the oil-and-gas field—Crusoe Energy, Great American Mining, and Upstream Data—that are capturing the energy typically wasted through flaring (when shale drilling rigs burn off excess natural gas) to power crypto mining. All of this may help assuage critics who view Bitcoin mining as an environmental disaster. But firms like Core Scientific also have to overcome another public relations problem: that mining operations are run by shifty carpetbaggers who will leave local communities in the lurch. This perception is another legacy of the 2017 Bitcoin boom when digital miners—who typically share the libertarian, borderless worldview of the larger crypto community—took towns across the country for a ride. The most famous example is Rockdale, Texas. The town became the subject of a Wired magazine feature about how a Chinese firm, Bitmain, touted a new Bitcoin venture that would help replace jobs and revenue that had been lost when an Alcoa plant closed. Rockdale town officials put on lavish dinners to make the mining executives feel welcome but, as happened in Chelan County and elsewhere, they vanished into the night. As for jobs, cryptocurrency mining operations may provide a handful of new positions for local residents. But Wright says the employment opportunities are nothing like what a recently closed aluminum plant used to provide—meaning his county has less reason to roll out a welcome mat for crypto companies. Colyer, the Foundry CEO, acknowledges the crypto-mining industry must overcome deep levels of mistrust. But he insists ventures like Core Scientific are a different breed from past fly-by-night operations. “In 2017, there were lots of people making huge promises, running around the company, and scaring local governments. A lot of those people have disappeared, and the companies that are left are legitimate,” he says. But even if the North American mining companies can overcome public skepticism, they will also have to prove they can succeed in a venture that has mostly been defined by failure. Relying on Chinese chips A successful crypto-mining operation requires the use of new machines built with ASIC chips—a type of computer chip custom-built for a specific purpose. In the case of Bitcoin mining rigs, the chips are specially designed to crunch the math problems that build the blockchain. This raises an obvious question: If a company can manufacture the best mining rigs, why would it sell them rather than set up a Bitcoin-mining operation of its own? And indeed Bitmain, one of the two Chinese companies that makes most of the machines, has faced past accusations of passing off used mining rigs as new. Meanwhile, the company is the subject of an ongoing class action lawsuit that claims it surreptitiously mined Bitcoins purchased by its customers. The allegations are unproven, and Bitmain denies wrongdoing. But the situation appears to pose a risk for the likes of Foundry and Core Scientific, which are not only undertaking their own mining operations but plan to supply machines to other companies. Colyer of Foundry says that such concerns were valid in the past but that the mining industry has evolved to eliminate self-dealing by the Chinese manufacturers. One reason, he says, is that the manufacturers have come to recognize that distributing mining power across the globe benefits the broader Bitcoin economy. Fabiano, the mining expert with Galaxy Digital, says the industry has become more trustworthy in part because there is now intense competition between Bitmain and the other big manufacturer, MicroBT. But Fabiano adds that accessing state-of-the-art mining rigs, which can cost between $2,600 and $2,800 apiece, has become difficult as a result of supply chain issues. She notes that the companies obtain their chips from Taiwan-based TSMC and Samsung, and that those companies have hundreds of other clients—including the likes of Apple —that may receive priority over Bitcoin companies. The upshot, says Fabiano, is that new machines may not be available until next July. In the long term, Core Scientific executives predict that chipmakers like TSMC may set up production in the U.S. and provide a domestic source of mining equipment. But Fabiano suggests that China will always have the manufacturing edge and that Colyer’s prediction of the U.S. obtaining a 25% share of mining capacity is optimistic. The bottom line is that aspirations for a booming crypto-mining industry in the U.S. is risky and fraught with uncertainty—much like Bitcoin itself. More must-read finance coverage from Fortune : Why aren’t we in another Great Depression? The IRS effectively canceled the tax break that made PPP loans so valuable A $100 million “virtual power plant” could put an end to California’s power woes Robinhood’s next adventure : Stealing market share from the rich Commentary: The 20 most important personal finance laws to live by This story was originally featured on Fortune.com \|\| The American heartland needs jobs. Could Bitcoin mining become its next savior?: A startup called Core Scientific announced this week that it hasraised$23 million to expand its cryptocurrency mining operations. The company, based in Bellevue, Wash., is already running crypto mines in North Carolina, Georgia, and Kentucky, and plans to open more before long. It’s not hard to understand why. Right now, a single Bitcoin—the digital mining equivalent of a gold nugget—is worth around $20,000. Mining a single Bitcoin block brings a reward of 6.25 of them, or about $125,000. If Core Scientific’s mining ventures are successful, the company will not just make a lot of money. It will also help to repatriate crypto production to the United States, where Bitcoin got its start. The recent resurgence in crypto mining feels like a good-news story. Mining companies like Core Scientific are in a position to make money and create jobs in rural areas, while also ensuring more Bitcoin—which is becoming a strategic asset—ends up in American hands. But there are also reasons for caution. The last crypto-mining boom promised similar benefits but resulted in fly-by-night companies leaving a trail of scams and environmental degradation in their wake. Will the outcome be any different this time? Mining cryptocurrency is different from conventional mining in some obvious ways. There’s no excavating and hauling ore. And the tools of the trade are not pickaxes and dynamite. Instead, crypto miners rely on two things to make a living: custom-designed computer chips and a torrent of electricity. A crypto-mining operation looks like this: In order to find a digital nugget, crypto miners pit their computers against others around the world in a race to solve complex math problems. The computer that solves the problem broadcasts the solution to others on the network and, in doing so, adds a block tothe blockchain—a tamperproof ledger that serves as a public record of transactions. For their trouble, the owner of the winning computer pockets the “block reward,” which is 6.25 Bitcoins in the case of Bitcoin plus transaction fees. The process is repeated every 10 minutes or so. In the early days, when it was still viable to mine Bitcoin with a home laptop, a large proportion of crypto mining took place in the U.S. But as the computer power needed to solve the math problems increased, Chinese mining operations came to dominate. The Chinese miners enjoyed two advantages: easy access to cheap power, including in places like Mongolia, and a domestic manufacturing base capable of cranking out so-called mining rigs—computers with custom chips made just for mining. While there are other mining operations around the globe, China remains far and away the leader, as can be seen inthis chartfrom the Cambridge Centre for Alternative Finance: Now, some U.S. companies believe they can wrest some of the mining pie back from China. In the case of Core Scientific, it has struck arrangements for cheap power across five sites, spanning over 100 acres in total, in Dalton, Ga., Marble, N.C., and Calvert City, Ky. The firm has also cut deals with Chinese manufacturers to get first dibs on the newest mining rigs, and plans to mine not just Bitcoin but so-called alt coins like Litecoin, Bitcoin Cash, Zcash, and Ethereum. Core Scientific is now one of the biggest U.S. miners, but its operations are part of a still larger plan. That plan is being steered by an outfit called Foundry, which is behind the just announced $23 million investment in Core Scientific. Foundry is a subsidiary of Digital Currency Group (DCG), a sprawling crypto conglomerate that recently announced it wouldspend $100 millionon mining initiatives. According to Foundry CEO Mike Colyer, boosting crypto production in the U.S. will serve to strengthen Bitcoin’s network by diversifying the miners who maintain it. “The only way Bitcoin works is when it’s distributed through the world and when it’s decentralized,” says Colyer, who predicts the share of U.S.-produced Bitcoin could rise to 25% in the next few years. Put another way, the U.S. mining ventures will help ensure that no consortium of miners can collude to manipulate the blockchain network. Such collusion requires a single entity to control over 50% of the network—a risk that is is remote in the case of Bitcoin, but which has transpired in the case of smaller digital currencies. Foundry’s mining initiatives offer the promise of strengthening Bitcoin’s network—and, of course, giving the company a chance to make money—but may also reflect another strategic imperative. Namely, as demand for Bitcoin increases in the market, more companies may wish to have a private supply of it to facilitate trading operations. In the case of DCG, which has a giant consumer Bitcoin business, Foundry’s ventures may help facilitate vertical integration. “Mining is a great way to accumulate Bitcoin. With the correct setup, you can mine it cheaper than you can buy it,” says Amanda Fabiano, who formerly oversaw mining operations at investment giant Fidelity and now does the same for crypto-trading firm Galaxy Digital. To get a different perspective on Bitcoin mining in North America, I spoke to Steve Wright, the general manager of a public utility in Chelan County, Wash. During the last big Bitcoin boom in 2017, Wright had to contend with a crush of mining companies asking to tap into the county’s ample hydroelectric resources. “We had a lot of companies come in and say, ‘We’re going to do great things,’ and then they would be gone from the face of the earth,” Wright recalls. “People would say, ‘We’re here for long term,’ and then nobody would pick up the phone.” Problems also came in the form of reckless operators who overloaded transformers, triggering fires. Meanwhile, the crypto miners who wanted to set up shop demanded the low electricity rates available to locals. For Wright, agreeing to those demands risked undercutting the profits the utility earned from selling its hydropower at higher rates to outside markets. Wright also faced pushback from county residents who questioned whether it was ethical to expend energy on something like Bitcoin mining. “When you have a green supply of power and you have a carbon-challenged world, people were asking if this is the best use of that power,” said Wright, whose job involves overseeing Columbia River dams like the one below. The debate over the environmental impact of crypto mining is not restricted to Chelan County. The payment giant Square, which recentlybought $50 millionof Bitcoin for its corporate treasury,announceda $10 million pledge this week to support a “Bitcoin Clean Energy” initiative as part of a larger plan to become carbon neutral by 2030. Meanwhile, other U.S. companies are finding creative ways to reduce Bitcoin’s environmental impact. Fabiano of Galaxy Digital pointed to three firms in the oil-and-gas field—Crusoe Energy, Great American Mining, and Upstream Data—that arecapturing the energytypically wasted through flaring (when shale drilling rigs burn off excess natural gas) to power crypto mining. All of this may help assuage critics who view Bitcoin mining as an environmental disaster. But firms like Core Scientific also have to overcome another public relations problem: that mining operations are run by shifty carpetbaggers who will leave local communities in the lurch. This perception is another legacy of the 2017 Bitcoin boom when digital miners—who typically share the libertarian, borderless worldview of the larger crypto community—took towns across the country for a ride. The most famous example is Rockdale, Texas. The town became the subject of aWiredmagazine featureabout how a Chinese firm, Bitmain, touted a new Bitcoin venture that would help replace jobs and revenue that had been lost when anAlcoaplant closed. Rockdale town officials put on lavish dinners to make the mining executives feel welcome but, as happened in Chelan County and elsewhere, they vanished into the night. As for jobs, cryptocurrency mining operations may provide a handful of new positions for local residents. But Wright says the employment opportunities are nothing like what a recently closed aluminum plant used to provide—meaning his county has less reason to roll out a welcome mat for crypto companies. Colyer, the Foundry CEO, acknowledges the crypto-mining industry must overcome deep levels of mistrust. But he insists ventures like Core Scientific are a different breed from past fly-by-night operations. “In 2017, there were lots of people making huge promises, running around the company, and scaring local governments. A lot of those people have disappeared, and the companies that are left are legitimate,” he says. But even if the North American mining companies can overcome public skepticism, they will also have to prove they can succeed in a venture that has mostly been defined by failure. A successful crypto-mining operation requires the use of new machines built with ASIC chips—a type of computer chip custom-built for a specific purpose. In the case of Bitcoin mining rigs, the chips are specially designed to crunch the math problems that build the blockchain. This raises an obvious question: If a company can manufacture the best mining rigs, why would it sell them rather than set up a Bitcoin-mining operation of its own? And indeed Bitmain, one of the two Chinese companies that makes most of the machines, has faced past accusations of passing off used mining rigs as new. Meanwhile, the company is the subject of an ongoingclass action lawsuitthat claims it surreptitiously mined Bitcoins purchased by its customers. The allegations are unproven, and Bitmain denies wrongdoing. But the situation appears to pose a risk for the likes of Foundry and Core Scientific, which are not only undertaking their own mining operations but plan to supply machines to other companies. Colyer of Foundry says that such concerns were valid in the past but that the mining industry has evolved to eliminate self-dealing by the Chinese manufacturers. One reason, he says, is that the manufacturers have come to recognize that distributing mining power across the globe benefits the broader Bitcoin economy. Fabiano, the mining expert with Galaxy Digital, says the industry has become more trustworthy in part because there is now intense competition between Bitmain and the other big manufacturer, MicroBT. But Fabiano adds that accessing state-of-the-art mining rigs, which can cost between $2,600 and $2,800 apiece, has become difficult as a result of supply chain issues. She notes that the companies obtain their chips from Taiwan-based TSMC and Samsung, and that those companies have hundreds of other clients—including the likes ofApple—that may receive priority over Bitcoin companies. The upshot, says Fabiano, is that new machines may not be available until next July. In the long term, Core Scientific executives predict that chipmakers like TSMC may set up production in the U.S. and provide a domestic source of mining equipment. But Fabiano suggests that China will always have the manufacturing edge and that Colyer’s prediction of the U.S. obtaining a 25% share of mining capacity is optimistic. The bottom line is that aspirations for a booming crypto-mining industry in the U.S. is risky and fraught with uncertainty—much like Bitcoin itself. • Why aren’t we in another Great Depression? • The IRS effectively canceledthe tax break that made PPP loans so valuable • A $100 million “virtual power plant”could put an end to California’s power woes • Robinhood’s next adventure: Stealing market share from the rich • Commentary: The 20 most importantpersonal finance laws to live by This story was originally featured onFortune.com \|\| The American heartland needs jobs. Could Bitcoin mining become its next savior?: A startup called Core Scientific announced this week that it hasraised$23 million to expand its cryptocurrency mining operations. The company, based in Bellevue, Wash., is already running crypto mines in North Carolina, Georgia, and Kentucky, and plans to open more before long. It’s not hard to understand why. Right now, a single Bitcoin—the digital mining equivalent of a gold nugget—is worth around $20,000. Mining a single Bitcoin block brings a reward of 6.25 of them, or about $125,000. If Core Scientific’s mining ventures are successful, the company will not just make a lot of money. It will also help to repatriate crypto production to the United States, where Bitcoin got its start. The recent resurgence in crypto mining feels like a good-news story. Mining companies like Core Scientific are in a position to make money and create jobs in rural areas, while also ensuring more Bitcoin—which is becoming a strategic asset—ends up in American hands. But there are also reasons for caution. The last crypto-mining boom promised similar benefits but resulted in fly-by-night companies leaving a trail of scams and environmental degradation in their wake. Will the outcome be any different this time? Mining cryptocurrency is different from conventional mining in some obvious ways. There’s no excavating and hauling ore. And the tools of the trade are not pickaxes and dynamite. Instead, crypto miners rely on two things to make a living: custom-designed computer chips and a torrent of electricity. A crypto-mining operation looks like this: In order to find a digital nugget, crypto miners pit their computers against others around the world in a race to solve complex math problems. The computer that solves the problem broadcasts the solution to others on the network and, in doing so, adds a block tothe blockchain—a tamperproof ledger that serves as a public record of transactions. For their trouble, the owner of the winning computer pockets the “block reward,” which is 6.25 Bitcoins in the case of Bitcoin plus transaction fees. The process is repeated every 10 minutes or so. In the early days, when it was still viable to mine Bitcoin with a home laptop, a large proportion of crypto mining took place in the U.S. But as the computer power needed to solve the math problems increased, Chinese mining operations came to dominate. The Chinese miners enjoyed two advantages: easy access to cheap power, including in places like Mongolia, and a domestic manufacturing base capable of cranking out so-called mining rigs—computers with custom chips made just for mining. While there are other mining operations around the globe, China remains far and away the leader, as can be seen inthis chartfrom the Cambridge Centre for Alternative Finance: Now, some U.S. companies believe they can wrest some of the mining pie back from China. In the case of Core Scientific, it has struck arrangements for cheap power across five sites, spanning over 100 acres in total, in Dalton, Ga., Marble, N.C., and Calvert City, Ky. The firm has also cut deals with Chinese manufacturers to get first dibs on the newest mining rigs, and plans to mine not just Bitcoin but so-called alt coins like Litecoin, Bitcoin Cash, Zcash, and Ethereum. Core Scientific is now one of the biggest U.S. miners, but its operations are part of a still larger plan. That plan is being steered by an outfit called Foundry, which is behind the just announced $23 million investment in Core Scientific. Foundry is a subsidiary of Digital Currency Group (DCG), a sprawling crypto conglomerate that recently announced it wouldspend $100 millionon mining initiatives. According to Foundry CEO Mike Colyer, boosting crypto production in the U.S. will serve to strengthen Bitcoin’s network by diversifying the miners who maintain it. “The only way Bitcoin works is when it’s distributed through the world and when it’s decentralized,” says Colyer, who predicts the share of U.S.-produced Bitcoin could rise to 25% in the next few years. Put another way, the U.S. mining ventures will help ensure that no consortium of miners can collude to manipulate the blockchain network. Such collusion requires a single entity to control over 50% of the network—a risk that is is remote in the case of Bitcoin, but which has transpired in the case of smaller digital currencies. Foundry’s mining initiatives offer the promise of strengthening Bitcoin’s network—and, of course, giving the company a chance to make money—but may also reflect another strategic imperative. Namely, as demand for Bitcoin increases in the market, more companies may wish to have a private supply of it to facilitate trading operations. In the case of DCG, which has a giant consumer Bitcoin business, Foundry’s ventures may help facilitate vertical integration. “Mining is a great way to accumulate Bitcoin. With the correct setup, you can mine it cheaper than you can buy it,” says Amanda Fabiano, who formerly oversaw mining operations at investment giant Fidelity and now does the same for crypto-trading firm Galaxy Digital. To get a different perspective on Bitcoin mining in North America, I spoke to Steve Wright, the general manager of a public utility in Chelan County, Wash. During the last big Bitcoin boom in 2017, Wright had to contend with a crush of mining companies asking to tap into the county’s ample hydroelectric resources. “We had a lot of companies come in and say, ‘We’re going to do great things,’ and then they would be gone from the face of the earth,” Wright recalls. “People would say, ‘We’re here for long term,’ and then nobody would pick up the phone.” Problems also came in the form of reckless operators who overloaded transformers, triggering fires. Meanwhile, the crypto miners who wanted to set up shop demanded the low electricity rates available to locals. For Wright, agreeing to those demands risked undercutting the profits the utility earned from selling its hydropower at higher rates to outside markets. Wright also faced pushback from county residents who questioned whether it was ethical to expend energy on something like Bitcoin mining. “When you have a green supply of power and you have a carbon-challenged world, people were asking if this is the best use of that power,” said Wright, whose job involves overseeing Columbia River dams like the one below. The debate over the environmental impact of crypto mining is not restricted to Chelan County. The payment giant Square, which recentlybought $50 millionof Bitcoin for its corporate treasury,announceda $10 million pledge this week to support a “Bitcoin Clean Energy” initiative as part of a larger plan to become carbon neutral by 2030. Meanwhile, other U.S. companies are finding creative ways to reduce Bitcoin’s environmental impact. Fabiano of Galaxy Digital pointed to three firms in the oil-and-gas field—Crusoe Energy, Great American Mining, and Upstream Data—that arecapturing the energytypically wasted through flaring (when shale drilling rigs burn off excess natural gas) to power crypto mining. All of this may help assuage critics who view Bitcoin mining as an environmental disaster. But firms like Core Scientific also have to overcome another public relations problem: that mining operations are run by shifty carpetbaggers who will leave local communities in the lurch. This perception is another legacy of the 2017 Bitcoin boom when digital miners—who typically share the libertarian, borderless worldview of the larger crypto community—took towns across the country for a ride. The most famous example is Rockdale, Texas. The town became the subject of aWiredmagazine featureabout how a Chinese firm, Bitmain, touted a new Bitcoin venture that would help replace jobs and revenue that had been lost when anAlcoaplant closed. Rockdale town officials put on lavish dinners to make the mining executives feel welcome but, as happened in Chelan County and elsewhere, they vanished into the night. As for jobs, cryptocurrency mining operations may provide a handful of new positions for local residents. But Wright says the employment opportunities are nothing like what a recently closed aluminum plant used to provide—meaning his county has less reason to roll out a welcome mat for crypto companies. Colyer, the Foundry CEO, acknowledges the crypto-mining industry must overcome deep levels of mistrust. But he insists ventures like Core Scientific are a different breed from past fly-by-night operations. “In 2017, there were lots of people making huge promises, running around the company, and scaring local governments. A lot of those people have disappeared, and the companies that are left are legitimate,” he says. But even if the North American mining companies can overcome public skepticism, they will also have to prove they can succeed in a venture that has mostly been defined by failure. A successful crypto-mining operation requires the use of new machines built with ASIC chips—a type of computer chip custom-built for a specific purpose. In the case of Bitcoin mining rigs, the chips are specially designed to crunch the math problems that build the blockchain. This raises an obvious question: If a company can manufacture the best mining rigs, why would it sell them rather than set up a Bitcoin-mining operation of its own? And indeed Bitmain, one of the two Chinese companies that makes most of the machines, has faced past accusations of passing off used mining rigs as new. Meanwhile, the company is the subject of an ongoingclass action lawsuitthat claims it surreptitiously mined Bitcoins purchased by its customers. The allegations are unproven, and Bitmain denies wrongdoing. But the situation appears to pose a risk for the likes of Foundry and Core Scientific, which are not only undertaking their own mining operations but plan to supply machines to other companies. Colyer of Foundry says that such concerns were valid in the past but that the mining industry has evolved to eliminate self-dealing by the Chinese manufacturers. One reason, he says, is that the manufacturers have come to recognize that distributing mining power across the globe benefits the broader Bitcoin economy. Fabiano, the mining expert with Galaxy Digital, says the industry has become more trustworthy in part because there is now intense competition between Bitmain and the other big manufacturer, MicroBT. But Fabiano adds that accessing state-of-the-art mining rigs, which can cost between $2,600 and $2,800 apiece, has become difficult as a result of supply chain issues. She notes that the companies obtain their chips from Taiwan-based TSMC and Samsung, and that those companies have hundreds of other clients—including the likes ofApple—that may receive priority over Bitcoin companies. The upshot, says Fabiano, is that new machines may not be available until next July. In the long term, Core Scientific executives predict that chipmakers like TSMC may set up production in the U.S. and provide a domestic source of mining equipment. But Fabiano suggests that China will always have the manufacturing edge and that Colyer’s prediction of the U.S. obtaining a 25% share of mining capacity is optimistic. The bottom line is that aspirations for a booming crypto-mining industry in the U.S. is risky and fraught with uncertainty—much like Bitcoin itself. • Why aren’t we in another Great Depression? • The IRS effectively canceledthe tax break that made PPP loans so valuable • A $100 million “virtual power plant”could put an end to California’s power woes • Robinhood’s next adventure: Stealing market share from the rich • Commentary: The 20 most importantpersonal finance laws to live by This story was originally featured onFortune.com \|\| The Crypto Daily – Movers and Shakers – December 12th, 2020: Bitcoin , BTC to USD, fell 1.17% on Friday. Following on from a 1.61% decline on Thursday, Bitcoin ended the day at $18,049.9. It was a mixed start to the day. Bitcoin rose to an early morning intraday high $18,299.0 before hitting reverse. Falling short of the first major resistance level at $18,574, Bitcoin fell to a late morning intraday low $17,629.0. The reversal saw Bitcoin fall through the first major support level at $17,941. Finding support at the second major support level at $17,621, Bitcoin briefly revisited $18,190 levels before ending the day at sub-$18,100. The near-term bullish trend remained intact, in spite of the latest pullback to sub-$18,000 levels. For the bears, Bitcoin would need to slide through the 62% FIB of $10,095 to form a near-term bearish trend. The Rest of the Pack Across the rest of the majors, it was a bearish day on Friday. Litecoin and Ripple’s XRP slid by 3.39% and by 3.72% respectively to lead the way down. Bitcoin Cash SV , (-2.28%), Chainlink (-2.05%), Ethereum (-2.65%) and Polkadot (-2.70%) and also saw relatively heavy losses. Binance Coin (-1.21%), Cardano’s ADA (-1.79%), and Crypto.com Coin (-1.69%) saw relatively modest losses on the day. In the current week, the crypto total market cap rose to a Monday high $569.88bn before falling to a Friday low $509.01bn. At the time of writing, the total market cap stood at $531.62bn. Bitcoin’s dominance rose to a Wednesday high 64.26% before falling to a Wednesday low 63.03%. At the time of writing, Bitcoin’s dominance stood at 64.01%. This Morning At the time of writing, Bitcoin was up by 1.62% to $18,342.0. A bullish start to the day saw Bitcoin rise from an early morning low $18,049.9 to a high $18,400.0. Bitcoin broke through the first major resistance level at $18,356 early on before easing back. Elsewhere, it was a mixed start to the day. Ripple’s XRP (-2.22%) and Bitcoin Cash SV (-0.77%) saw red to buck the trend early on. Story continues It was a bullish start for the rest of the majors, however. At the time of writing, Cardano’s ADA was up by 4.84% to lead the way. For the Bitcoin Day Ahead Bitcoin would need to avoid a fall through the pivot level at $17,993 to bring the first major resistance level at $18,356 back into play. Support from the broader market would be needed for Bitcoin to hold onto $18,300 levels early on. Barring an extended crypto rally, the first major resistance level and resistance at $18,500 would likely cap any upside. In the event of an extended crypto rally, the second major resistance level at $18,663 and resistance at $19,000 would likely come into play. Failure to avoid a fall through the $17,993 pivot would bring the first major support level at $17,686 into play. Barring another extended crypto sell-off, Bitcoin should steer clear of sub-$17,500 levels. The second major support level sits at $17,323. This article was originally posted on FX Empire More From FXEMPIRE: S&P 500 Weekly Price Forecast – Stock Markets Pull Back E-mini Dow Jones Industrial Average (YM) Futures Technical Analysis – Strong Over 29917, Weak Under 29780 Ethereum, Litecoin, and Ripple’s XRP – Daily Tech Analysis – December 12th, 2020 Crude Oil Weekly Price Forecast – Crude Oil Markets Pause Crude Oil Price Forecast – Crude Oil Markets Quiet on Friday COVID-19 Vaccine Update – Pfizer Inc. Approval Imminent Amidst a Virus Surge \|\| The Crypto Daily – Movers and Shakers – December 12th, 2020: Bitcoin , BTC to USD, fell 1.17% on Friday. Following on from a 1.61% decline on Thursday, Bitcoin ended the day at $18,049.9. It was a mixed start to the day. Bitcoin rose to an early morning intraday high $18,299.0 before hitting reverse. Falling short of the first major resistance level at $18,574, Bitcoin fell to a late morning intraday low $17,629.0. The reversal saw Bitcoin fall through the first major support level at $17,941. Finding support at the second major support level at $17,621, Bitcoin briefly revisited $18,190 levels before ending the day at sub-$18,100. The near-term bullish trend remained intact, in spite of the latest pullback to sub-$18,000 levels. For the bears, Bitcoin would need to slide through the 62% FIB of $10,095 to form a near-term bearish trend. The Rest of the Pack Across the rest of the majors, it was a bearish day on Friday. Litecoin and Ripple’s XRP slid by 3.39% and by 3.72% respectively to lead the way down. Bitcoin Cash SV , (-2.28%), Chainlink (-2.05%), Ethereum (-2.65%) and Polkadot (-2.70%) and also saw relatively heavy losses. Binance Coin (-1.21%), Cardano’s ADA (-1.79%), and Crypto.com Coin (-1.69%) saw relatively modest losses on the day. In the current week, the crypto total market cap rose to a Monday high $569.88bn before falling to a Friday low $509.01bn. At the time of writing, the total market cap stood at $531.62bn. Bitcoin’s dominance rose to a Wednesday high 64.26% before falling to a Wednesday low 63.03%. At the time of writing, Bitcoin’s dominance stood at 64.01%. This Morning At the time of writing, Bitcoin was up by 1.62% to $18,342.0. A bullish start to the day saw Bitcoin rise from an early morning low $18,049.9 to a high $18,400.0. Bitcoin broke through the first major resistance level at $18,356 early on before easing back. Elsewhere, it was a mixed start to the day. Ripple’s XRP (-2.22%) and Bitcoin Cash SV (-0.77%) saw red to buck the trend early on. Story continues It was a bullish start for the rest of the majors, however. At the time of writing, Cardano’s ADA was up by 4.84% to lead the way. For the Bitcoin Day Ahead Bitcoin would need to avoid a fall through the pivot level at $17,993 to bring the first major resistance level at $18,356 back into play. Support from the broader market would be needed for Bitcoin to hold onto $18,300 levels early on. Barring an extended crypto rally, the first major resistance level and resistance at $18,500 would likely cap any upside. In the event of an extended crypto rally, the second major resistance level at $18,663 and resistance at $19,000 would likely come into play. Failure to avoid a fall through the $17,993 pivot would bring the first major support level at $17,686 into play. Barring another extended crypto sell-off, Bitcoin should steer clear of sub-$17,500 levels. The second major support level sits at $17,323. This article was originally posted on FX Empire More From FXEMPIRE: S&P 500 Weekly Price Forecast – Stock Markets Pull Back E-mini Dow Jones Industrial Average (YM) Futures Technical Analysis – Strong Over 29917, Weak Under 29780 Ethereum, Litecoin, and Ripple’s XRP – Daily Tech Analysis – December 12th, 2020 Crude Oil Weekly Price Forecast – Crude Oil Markets Pause Crude Oil Price Forecast – Crude Oil Markets Quiet on Friday COVID-19 Vaccine Update – Pfizer Inc. Approval Imminent Amidst a Virus Surge \|\| FinCEN Encourages Banks to Share Customer Information With Each Other: A U.S. agency that fights financial crime is encouraging financial institutions, ranging from banks to cryptocurrency exchanges, to share customer information with one another to catch wrongdoers. The Financial Crimes Enforcement Network (FinCEN), a bureau of the Treasury Department, issued afact sheetThursday spelling out that the 2001 Patriot Act gives institutions wide latitude in what kind of information they are permitted to share. Overall, the sheet seemingly lowers the obstacles for further sharing of personal customer information among banks, the threshold of what qualifies as “suspicious” activity and whether the entities sharing customer information even need to be financial institutions. Related:How the Incoming Administration Can Fix Crypto Regulation Among other matters, the fact sheet clarifies that Section 314(b) of the act, and the regulations putting it into practice, “impose no limitations on the sharing of personally identifiable information.” The sheet added that institutions have to protect the security and confidentiality of this data, and use it only for the purposes laid out in the nearly 20-year-old law, passed a month after the 9/11 attacks. Still, the guidance is likely to chafe privacy advocates inside and outside the crypto community who are already uneasy about thehoneypot of personal datathat FinCEN’s suspicious activity report (SAR) database has become. The more places information is shared, after all, the more ways it can be misused or stolen. “It seems that in the spirit of ‘protecting our communities and preventing crimes and bad acts,’ FinCEN’s guidance is dramatically expanding its expectation of banks to share data, at the expense of individuals’ privacy, while potentially exposing them to very real cyber risks, when it is not clear that such a move is necessary,” said Nizan Geslevich Packin, an associate professor of law at City University of New York. In aspeechThursday, FinCEN Director Kenneth Blanco framed interbank data sharing as a public safety measure. Related:The Bitcoin Banking Battle Heats Up “Information sharing among financial institutions through 314(b) is critical to identifying, reporting and preventing crime and bad acts,” he said in prepared remarks for a virtual gathering of bankers and lawyers. “It is an important part of how we protect our national security.” However, he suggested institutions have been reluctant to take part. “Many have been calling for clarity in this area for a long time,” so the agency saw fit “to clarify in greater detail the circumstances where 314(b) applies, with the hope of enhancing participation,” Blanco said. The information that can be shared is not limited to activities suspected of involving proceeds of a specified unlawful activity (SUA), Blanco said. Institutions do not need “specific information that these activities directly relate to proceeds of an SUA, or to have identified specific proceeds of an SUA being laundered” in order to share data with each other, he said. Nor must they have made “a conclusive determination that the activity is suspicious.” The FinCEN fact sheet claims additional reporting can shed “more light upon overall financial trails” and build “a more comprehensive and accurate picture of a customer’s activities that may involve money laundering or [where] terrorist financing is suspected.” Angela Angelovska-Wilson, co-founder of DLx Law and former chief legal and compliance officer at blockchain software firm Digital Asset, recognized that while multiple financial entities handling sensitive data could create additional vulnerabilities, it may ultimately be a positive. If banks can share data about what might be suspicious among each other, it could stop some entities from acting with blinders on, she argued. For example, if someone is engaging in one kind of activity in a certain account, and then behaving differently in another, that might seem suspicious to both banks. But if they communicate about this data before filing a SAR, it could benefit the customer as a more holistic picture of their financial activities could illuminate that they’re not doing anything suspicious. “Basically what 314(b) has done in the past is it has hampered people’s ability to share information in order to figure out whether or not something is actually suspicious and be able to thoughtfully report to FinCEN,” said Angelovska-Wilson. Yet others read FinCEN’s continued efforts to widen the information-snagging net as a sign of policy failure. “This shows that Congress has not been performing its oversight function,” said Michael German, a former FBI special agent, privacy expert and a fellow at the Brennan Center for Justice. “It’s waiting for the Treasury Department to claim that this is an effective measure against terrorism or money laundering. But after two decades of increased sharing of suspicious activity reports, it has not resulted in measurable successes against terrorism or money laundering. It’s time for our elected representatives to protect our data, the way that is promised under the Bank Secrecy Act, rather than these exceptions for sharing.” FinCEN, he said, “is only going to keep pushing for more information and more information, even if that information is useless to its stated goals.” Financial institutions are still forbidden to disclose that a SAR exists, and that applies even when the report was filed jointly with another company, FinCEN’s fact sheet stated. “However, financial institutions participating in Section 314(b) that are considering filing or have filed a joint SAR may freely discuss the prospective or already filed joint SAR [among] themselves,” the fact sheet said. While crypto exchanges aren’t explicitly listed, money services businesses and securities brokers are. Both categories include cryptocurrency businesses. Compliance vendors and associations of financial institutions, including unincorporated ones governed by a contract between members, are also permitted to take part in information-sharing, FinCEN added. “The big takeaway from this seems to be that FinCEN is encouraging people to engage in more data sharing,” said Michael Yaeger, a shareholder at the law firm of Carlton Fields, who focuses on government investigations and cybersecurity matters. “They are doing so in a variety of ways, including pointing out that a financial institution does not need to have made a conclusive determination that activity is suspicious or closely tied to a specified unlawful activity. An institution need not have concluded a SAR must be filed.” As CoinDeskreported Thursday, over the years there has been a move toward so-called defensive filing, meaning that if there is any question something could be deemed suspicious, banks are encouraged to file a SAR. This has led to what one compliance officer called an “avalanche of data” because financial institutions have been filing more and more to FinCEN. “Many questions about the safety of the information collected by FinCEN, as well as the bureau’s failure to provide clear guidelines regarding how and when it eventually deletes the data it has, remain unanswered,” Packin said. “This is concerning … in an era in which cybersecurity [has] become a major concern.” Read more:How FinCEN Became a Honeypot for Sensitive Personal Data • FinCEN Encourages Banks to Share Customer Information With Each Other • FinCEN Encourages Banks to Share Customer Information With Each Other \|\| FinCEN Encourages Banks to Share Customer Information With Each Other: A U.S. agency that fights financial crime is encouraging financial institutions, ranging from banks to cryptocurrency exchanges, to share customer information with one another to catch wrongdoers. The Financial Crimes Enforcement Network (FinCEN), a bureau of the Treasury Department, issued a fact sheet Thursday spelling out that the 2001 Patriot Act gives institutions wide latitude in what kind of information they are permitted to share. Overall, the sheet seemingly lowers the obstacles for further sharing of personal customer information among banks, the threshold of what qualifies as “suspicious” activity and whether the entities sharing customer information even need to be financial institutions. Related: How the Incoming Administration Can Fix Crypto Regulation Among other matters, the fact sheet clarifies that Section 314(b) of the act, and the regulations putting it into practice, “impose no limitations on the sharing of personally identifiable information.” The sheet added that institutions have to protect the security and confidentiality of this data, and use it only for the purposes laid out in the nearly 20-year-old law, passed a month after the 9/11 attacks. Still, the guidance is likely to chafe privacy advocates inside and outside the crypto community who are already uneasy about the honeypot of personal data that FinCEN’s suspicious activity report (SAR) database has become. The more places information is shared, after all, the more ways it can be misused or stolen. “It seems that in the spirit of ‘protecting our communities and preventing crimes and bad acts,’ FinCEN’s guidance is dramatically expanding its expectation of banks to share data, at the expense of individuals’ privacy, while potentially exposing them to very real cyber risks, when it is not clear that such a move is necessary,” said Nizan Geslevich Packin, an associate professor of law at City University of New York. Story continues In a speech Thursday, FinCEN Director Kenneth Blanco framed interbank data sharing as a public safety measure. Related: The Bitcoin Banking Battle Heats Up “Information sharing among financial institutions through 314(b) is critical to identifying, reporting and preventing crime and bad acts,” he said in prepared remarks for a virtual gathering of bankers and lawyers. “It is an important part of how we protect our national security.” However, he suggested institutions have been reluctant to take part. “Many have been calling for clarity in this area for a long time,” so the agency saw fit “to clarify in greater detail the circumstances where 314(b) applies, with the hope of enhancing participation,” Blanco said. Lowering the bar The information that can be shared is not limited to activities suspected of involving proceeds of a specified unlawful activity (SUA), Blanco said. Institutions do not need “specific information that these activities directly relate to proceeds of an SUA, or to have identified specific proceeds of an SUA being laundered” in order to share data with each other, he said. Nor must they have made “a conclusive determination that the activity is suspicious.” The FinCEN fact sheet claims additional reporting can shed “more light upon overall financial trails” and build “a more comprehensive and accurate picture of a customer’s activities that may involve money laundering or [where] terrorist financing is suspected.” Angela Angelovska-Wilson, co-founder of DLx Law and former chief legal and compliance officer at blockchain software firm Digital Asset, recognized that while multiple financial entities handling sensitive data could create additional vulnerabilities, it may ultimately be a positive. If banks can share data about what might be suspicious among each other, it could stop some entities from acting with blinders on, she argued. For example, if someone is engaging in one kind of activity in a certain account, and then behaving differently in another, that might seem suspicious to both banks. But if they communicate about this data before filing a SAR, it could benefit the customer as a more holistic picture of their financial activities could illuminate that they’re not doing anything suspicious. “Basically what 314(b) has done in the past is it has hampered people’s ability to share information in order to figure out whether or not something is actually suspicious and be able to thoughtfully report to FinCEN,” said Angelovska-Wilson. Yet others read FinCEN’s continued efforts to widen the information-snagging net as a sign of policy failure. “This shows that Congress has not been performing its oversight function,” said Michael German, a former FBI special agent, privacy expert and a fellow at the Brennan Center for Justice. “It’s waiting for the Treasury Department to claim that this is an effective measure against terrorism or money laundering. But after two decades of increased sharing of suspicious activity reports, it has not resulted in measurable successes against terrorism or money laundering. It’s time for our elected representatives to protect our data, the way that is promised under the Bank Secrecy Act, rather than these exceptions for sharing.” FinCEN, he said, “is only going to keep pushing for more information and more information, even if that information is useless to its stated goals.” Don’t tell a soul Financial institutions are still forbidden to disclose that a SAR exists, and that applies even when the report was filed jointly with another company, FinCEN’s fact sheet stated. “However, financial institutions participating in Section 314(b) that are considering filing or have filed a joint SAR may freely discuss the prospective or already filed joint SAR [among] themselves,” the fact sheet said. While crypto exchanges aren’t explicitly listed, money services businesses and securities brokers are. Both categories include cryptocurrency businesses. Compliance vendors and associations of financial institutions, including unincorporated ones governed by a contract between members, are also permitted to take part in information-sharing, FinCEN added. “The big takeaway from this seems to be that FinCEN is encouraging people to engage in more data sharing,” said Michael Yaeger, a shareholder at the law firm of Carlton Fields, who focuses on government investigations and cybersecurity matters. “They are doing so in a variety of ways, including pointing out that a financial institution does not need to have made a conclusive determination that activity is suspicious or closely tied to a specified unlawful activity. An institution need not have concluded a SAR must be filed.” As CoinDesk reported Thursday , over the years there has been a move toward so-called defensive filing, meaning that if there is any question something could be deemed suspicious, banks are encouraged to file a SAR. This has led to what one compliance officer called an “avalanche of data” because financial institutions have been filing more and more to FinCEN. “Many questions about the safety of the information collected by FinCEN, as well as the bureau’s failure to provide clear guidelines regarding how and when it eventually deletes the data it has, remain unanswered,” Packin said. “This is concerning … in an era in which cybersecurity [has] become a major concern.” Read more: How FinCEN Became a Honeypot for Sensitive Personal Data Related Stories FinCEN Encourages Banks to Share Customer Information With Each Other FinCEN Encourages Banks to Share Customer Information With Each Other \|\| Market Wrap: Bitcoin Holding at $18K; Active Ethereum Addresses up 140% in 2020: Bitcoin is struggling to make gains as an expected low-volume weekend could push price further down. Meanwhile, the increasing number of active Ethereum addresses this year is a testament to the network’s growth. • Bitcoin(BTC) trading around $18,019 as of 21:00 UTC (4 p.m. ET). Slipping 2% over the previous 24 hours. • Bitcoin’s 24-hour range: $17,593-$18,404 (CoinDesk 20) • BTC slightly above its 10-hour moving average but below the 50-hour on the hourly chart, a sideways signal for market technicians. The price of bitcoin fell to as low as $17,593 Friday, according to CoinDesk 20 data. The price has recovered somewhat, hovering around $18,000 territory, and was at $17,962 as of press time. Read More:Bitcoin Whales Buy Low, Sell High; Retail Investors Chase Rallies: Data Related:First Mover: Horrible 2020 Economy Proved Best Thing for Bitcoin “BTC looks like it lost momentum,” said Misha Alefirenko, co-founder of VelvetFormula, a digital asset liquidity provider. “If buyers are not stepping in soon, we may see a testing of the $16,400-$16,900 range over the weekend.” Friday is shaping up to be a better day in terms of volume at over $1 billion total for the eight major exchanges tracked by the CoinDesk 20 as of press time. Thursday’s figure was $965 million. However, weekends almost always have lower volume, such as last weekend’s $578 million daily average, according to CoinDesk 20 data. “It’s a fairly balanced market at the moment, with the fresh inflows from institutional money met with profit taking from some existing large players as well as increased miners’ hedging,” noted Jean-Marc Bonnefous, partner at investment firm Tellurian Capital. Read More:MicroStrategy’s Bitcoin-Driven Offering Boosted to $650M Related:Mergers Position Yearn Finance as the Amazon of DeFi The derivatives market is also a factor, according to Bonnefous. “There is a big concentration around the $16,000 strike for the BTC options expiry on 25th December, which acts as a polarizing target short term,” he said. The $16,000 strike is the third-most popular strike point in the bitcoin options market, based on data from aggregator Skew. “We are now seeing public companies like MicroStrategy using leverage to acquire a larger position in bitcoin,” said Michael Gord, chief executive officer of quant crypto firm Global Digital Assets. December doldrums may continue, but many analysts are hyped up about bitcoin’s potential in 2021. “Next year, as annual budgets reopen, I expect a huge surge in demand to enter the industry from enterprises and institutional investors,” Global Digital Asset’s Gord said. “Macro matters and, in particular, risks surrounding Brexit may rattle equity markets and result in the U.S. dollar potentially strengthening,” said Denis Vinokourov, head of research for crypto brokerage Bequant. Equity markets are down globally Friday on some macroeconomic uncertainty. • Asia’s Nikkei 225 closed in the red 0.40%,led lower by losses in SoftBank Group, which fell 4.7% in Japan on Friday. • The FTSE 100 in Europe ended the day slipping 0.80% asBrexit negotiations closed in on a key deadline, leaving investors to sell on the uncertainty. • The S&P 500 in the United States dipped 0.13% asinvestors remain unsure regarding the potential for government stimulus to help boost the economy. “But given bitcoin and broader digital assets this year in the wake of COVID-19 pandemic and U.S. elections, expect bitcoin to show a similar amount of resilience,” added Vinokourov. Ether(ETH), the second-largest cryptocurrency by market capitalization, was down Friday, trading around $548 and slipping 3.1% in 24 hours as of 21:00 UTC (4:00 p.m. ET). The number of active addresses on the Ethereum network has increased to 379,249 as of Dec. 10 from 158,039 on Jan. 1, a 140% increase. Bequant’s Vinokourov told CoinDesk this data, in addition to metrics showing the movement of Ethereum users from centralized exchanges (CeFi) to decentralized exchanges (DeFi), is a huge liquidity opportunity for token economies within that ecosystem. Read More:This One Graph Shows Ether Going From CeFi to DeFi: Glassnode “The amount of gas fees spent on ETH deposits to centralized exchanges has fallen to less than 1%, as of Dec. 9, from around 26% in late October 2017, according to Glassnode data,” Vinokourov noted. “There is plenty of liquidity in the market. As such, DeFi tokens look particularly attractive even with the recent downside.” Digital assets on theCoinDesk 20are mostly red Friday. Notable winners as of 21:00 UTC (4:00 p.m. ET): • cosmos(ATOM) + 2.6% • kyber network(KNC) + 1.1% Notable losers: • stellar(XLM) – 5.1% • litecoin(LTC) – 4.4% • chainlink(LINK) – 4.3% Commodities: • Oil was down 0.82%. Price per barrel of West Texas Intermediate crude: $46.57. • Gold was in the green 0.14% and at $1,838 as of press time. Treasurys: • The 10-year U.S. Treasury bond yield fell Friday dipping to 0.890 and in the red 1.3%. • Market Wrap: Bitcoin Holding at $18K; Active Ethereum Addresses up 140% in 2020 • Market Wrap: Bitcoin Holding at $18K; Active Ethereum Addresses up 140% in 2020 \|\| Market Wrap: Bitcoin Holding at $18K; Active Ethereum Addresses up 140% in 2020: Bitcoin is struggling to make gains as an expected low-volume weekend could push price further down. Meanwhile, the increasing number of active Ethereum addresses this year is a testament to the network’s growth. • Bitcoin(BTC) trading around $18,019 as of 21:00 UTC (4 p.m. ET). Slipping 2% over the previous 24 hours. • Bitcoin’s 24-hour range: $17,593-$18,404 (CoinDesk 20) • BTC slightly above its 10-hour moving average but below the 50-hour on the hourly chart, a sideways signal for market technicians. The price of bitcoin fell to as low as $17,593 Friday, according to CoinDesk 20 data. The price has recovered somewhat, hovering around $18,000 territory, and was at $17,962 as of press time. Read More:Bitcoin Whales Buy Low, Sell High; Retail Investors Chase Rallies: Data Related:First Mover: Horrible 2020 Economy Proved Best Thing for Bitcoin “BTC looks like it lost momentum,” said Misha Alefirenko, co-founder of VelvetFormula, a digital asset liquidity provider. “If buyers are not stepping in soon, we may see a testing of the $16,400-$16,900 range over the weekend.” Friday is shaping up to be a better day in terms of volume at over $1 billion total for the eight major exchanges tracked by the CoinDesk 20 as of press time. Thursday’s figure was $965 million. However, weekends almost always have lower volume, such as last weekend’s $578 million daily average, according to CoinDesk 20 data. “It’s a fairly balanced market at the moment, with the fresh inflows from institutional money met with profit taking from some existing large players as well as increased miners’ hedging,” noted Jean-Marc Bonnefous, partner at investment firm Tellurian Capital. Read More:MicroStrategy’s Bitcoin-Driven Offering Boosted to $650M Related:Mergers Position Yearn Finance as the Amazon of DeFi The derivatives market is also a factor, according to Bonnefous. “There is a big concentration around the $16,000 strike for the BTC options expiry on 25th December, which acts as a polarizing target short term,” he said. The $16,000 strike is the third-most popular strike point in the bitcoin options market, based on data from aggregator Skew. “We are now seeing public companies like MicroStrategy using leverage to acquire a larger position in bitcoin,” said Michael Gord, chief executive officer of quant crypto firm Global Digital Assets. December doldrums may continue, but many analysts are hyped up about bitcoin’s potential in 2021. “Next year, as annual budgets reopen, I expect a huge surge in demand to enter the industry from enterprises and institutional investors,” Global Digital Asset’s Gord said. “Macro matters and, in particular, risks surrounding Brexit may rattle equity markets and result in the U.S. dollar potentially strengthening,” said Denis Vinokourov, head of research for crypto brokerage Bequant. Equity markets are down globally Friday on some macroeconomic uncertainty. • Asia’s Nikkei 225 closed in the red 0.40%,led lower by losses in SoftBank Group, which fell 4.7% in Japan on Friday. • The FTSE 100 in Europe ended the day slipping 0.80% asBrexit negotiations closed in on a key deadline, leaving investors to sell on the uncertainty. • The S&P 500 in the United States dipped 0.13% asinvestors remain unsure regarding the potential for government stimulus to help boost the economy. “But given bitcoin and broader digital assets this year in the wake of COVID-19 pandemic and U.S. elections, expect bitcoin to show a similar amount of resilience,” added Vinokourov. Ether(ETH), the second-largest cryptocurrency by market capitalization, was down Friday, trading around $548 and slipping 3.1% in 24 hours as of 21:00 UTC (4:00 p.m. ET). The number of active addresses on the Ethereum network has increased to 379,249 as of Dec. 10 from 158,039 on Jan. 1, a 140% increase. Bequant’s Vinokourov told CoinDesk this data, in addition to metrics showing the movement of Ethereum users from centralized exchanges (CeFi) to decentralized exchanges (DeFi), is a huge liquidity opportunity for token economies within that ecosystem. Read More:This One Graph Shows Ether Going From CeFi to DeFi: Glassnode “The amount of gas fees spent on ETH deposits to centralized exchanges has fallen to less than 1%, as of Dec. 9, from around 26% in late October 2017, according to Glassnode data,” Vinokourov noted. “There is plenty of liquidity in the market. As such, DeFi tokens look particularly attractive even with the recent downside.” Digital assets on theCoinDesk 20are mostly red Friday. Notable winners as of 21:00 UTC (4:00 p.m. ET): • cosmos(ATOM) + 2.6% • kyber network(KNC) + 1.1% Notable losers: • stellar(XLM) – 5.1% • litecoin(LTC) – 4.4% • chainlink(LINK) – 4.3% Commodities: • Oil was down 0.82%. Price per barrel of West Texas Intermediate crude: $46.57. • Gold was in the green 0.14% and at $1,838 as of press time. Treasurys: • The 10-year U.S. Treasury bond yield fell Friday dipping to 0.890 and in the red 1.3%. • Market Wrap: Bitcoin Holding at $18K; Active Ethereum Addresses up 140% in 2020 • Market Wrap: Bitcoin Holding at $18K; Active Ethereum Addresses up 140% in 2020 \|\| Market Wrap: Bitcoin Holding at $18K; Active Ethereum Addresses up 140% in 2020: Bitcoin is struggling to make gains as an expected low-volume weekend could push price further down. Meanwhile, the increasing number of active Ethereum addresses this year is a testament to the network’s growth. Bitcoin (BTC) trading around $18,019 as of 21:00 UTC (4 p.m. ET). Slipping 2% over the previous 24 hours. Bitcoin’s 24-hour range: $17,593-$18,404 (CoinDesk 20) BTC slightly above its 10-hour moving average but below the 50-hour on the hourly chart, a sideways signal for market technicians. The price of bitcoin fell to as low as $17,593 Friday, according to CoinDesk 20 data. The price has recovered somewhat, hovering around $18,000 territory, and was at $17,962 as of press time. Read More: Bitcoin Whales Buy Low, Sell High; Retail Investors Chase Rallies: Data Related: First Mover: Horrible 2020 Economy Proved Best Thing for Bitcoin “BTC looks like it lost momentum,” said Misha Alefirenko, co-founder of VelvetFormula, a digital asset liquidity provider. “If buyers are not stepping in soon, we may see a testing of the $16,400-$16,900 range over the weekend.” Friday is shaping up to be a better day in terms of volume at over $1 billion total for the eight major exchanges tracked by the CoinDesk 20 as of press time. Thursday’s figure was $965 million. However, weekends almost always have lower volume, such as last weekend’s $578 million daily average, according to CoinDesk 20 data. “It’s a fairly balanced market at the moment, with the fresh inflows from institutional money met with profit taking from some existing large players as well as increased miners’ hedging,” noted Jean-Marc Bonnefous, partner at investment firm Tellurian Capital. Read More: MicroStrategy’s Bitcoin-Driven Offering Boosted to $650M Related: Mergers Position Yearn Finance as the Amazon of DeFi The derivatives market is also a factor, according to Bonnefous. “There is a big concentration around the $16,000 strike for the BTC options expiry on 25th December, which acts as a polarizing target short term,” he said. The $16,000 strike is the third-most popular strike point in the bitcoin options market, based on data from aggregator Skew. Story continues “We are now seeing public companies like MicroStrategy using leverage to acquire a larger position in bitcoin,” said Michael Gord, chief executive officer of quant crypto firm Global Digital Assets. December doldrums may continue, but many analysts are hyped up about bitcoin’s potential in 2021. “Next year, as annual budgets reopen, I expect a huge surge in demand to enter the industry from enterprises and institutional investors,” Global Digital Asset’s Gord said. “Macro matters and, in particular, risks surrounding Brexit may rattle equity markets and result in the U.S. dollar potentially strengthening,” said Denis Vinokourov, head of research for crypto brokerage Bequant. Equity markets are down globally Friday on some macroeconomic uncertainty. Asia’s Nikkei 225 closed in the red 0.40%, led lower by losses in SoftBank Group, which fell 4.7% in Japan on Friday . The FTSE 100 in Europe ended the day slipping 0.80% as Brexit negotiations closed in on a key deadline, leaving investors to sell on the uncertainty . The S&P 500 in the United States dipped 0.13% as investors remain unsure regarding the potential for government stimulus to help boost the economy . “But given bitcoin and broader digital assets this year in the wake of COVID-19 pandemic and U.S. elections, expect bitcoin to show a similar amount of resilience,” added Vinokourov. Ethereum active addresses uptrend in 2020 Ether (ETH), the second-largest cryptocurrency by market capitalization, was down Friday, trading around $548 and slipping 3.1% in 24 hours as of 21:00 UTC (4:00 p.m. ET). The number of active addresses on the Ethereum network has increased to 379,249 as of Dec. 10 from 158,039 on Jan. 1, a 140% increase. Bequant’s Vinokourov told CoinDesk this data, in addition to metrics showing the movement of Ethereum users from centralized exchanges (CeFi) to decentralized exchanges (DeFi), is a huge liquidity opportunity for token economies within that ecosystem. Read More: This One Graph Shows Ether Going From CeFi to DeFi: Glassnode “The amount of gas fees spent on ETH deposits to centralized exchanges has fallen to less than 1%, as of Dec. 9, from around 26% in late October 2017, according to Glassnode data,” Vinokourov noted. “There is plenty of liquidity in the market. As such, DeFi tokens look particularly attractive even with the recent downside.” Other markets Digital assets on the CoinDesk 20 are mostly red Friday. Notable winners as of 21:00 UTC (4:00 p.m. ET): cosmos (ATOM) + 2.6% kyber network (KNC) + 1.1% Notable losers: stellar (XLM) – 5.1% litecoin (LTC) – 4.4% chainlink (LINK) – 4.3% Commodities: Oil was down 0.82%. Price per barrel of West Texas Intermediate crude: $46.57. Gold was in the green 0.14% and at $1,838 as of press time. Treasurys: The 10-year U.S. Treasury bond yield fell Friday dipping to 0.890 and in the red 1.3%. Related Stories Market Wrap: Bitcoin Holding at $18K; Active Ethereum Addresses up 140% in 2020 Market Wrap: Bitcoin Holding at $18K; Active Ethereum Addresses up 140% in 2020 \|\| Dispute Resolution Protocols Can Help Enterprise Adopt Blockchain: As we approach the end of 2020, the blockchain industry is experiencing another resurgence. Bitcoin prices are hovering around all-time highs, decentralized finance, or DeFi, is exploring new offerings seemingly every week and tech stalwarts such as PayPal are integrating crypto into their offerings. These developments are positive news as we continue our efforts to build out the infrastructure of the future. They also surface areas of design and development in which we need to conduct additional research. Stephanie Hurder, a CoinDesk columnist, is a founding economist atPrysm Group, an economic advisory focused on the implementation of emerging technologies, and an academic contributor to the World Economic Forum. She has a PhD in Business Economics from Harvard. Related:Saylor Hits Back at Claims MicroStrategy's Bitcoin Trove Makes It an ETF This week, along with partners at the World Economic Forum and Latham & Watkins LLP, we published the report “Bridging the Governance Gap: Dispute Resolution for Blockchain-Based Transactions.” While more and more projects have invested in research and development related to governance, the area of dispute resolution, particularly for on-chain transactions, has been less frequently addressed. Focusing on enterprise applications and examining examples across industries, the report details the economic and legal importance of dispute resolution and presents a framework for types of dispute resolution systems. The four types are: • Private In-Network Resolution, in which disputes are resolved by the network operator or a committee of a network • Private In-Network Resolution, in which disputes are resolved by the network operator or a committee of a network • Semi-Private Industry Fora, in which disputes are resolved by industry participants who may participate in resolving other disputes • Litigation, in which disputes are resolved in court in the applicable legal system Common to all of these models of dispute resolution is that individuals, with varying degrees of expertise, will need to be involved in adjudicating the disputes. These individuals can be members of the network itself, industry participants or participants in the legal system with jurisdiction. Related:Money Reimagined: Bitcoin's Tug of War as Wall Street Moves In The reason for this is an economic concept calledcontractual incompleteness.In any agreement or contract there are circumstances that cannot be anticipated and accounted for in the initial design. When these events take place, participants may not know what to do or they may want to renegotiate and determine a new course of action. What this means for blockchain projects is the initial protocol or project code is never going to be a complete and comprehensive specification of what should occur in every circumstance. Unanticipated events and upgrades will need to be addressedby people. As complexity increases, the impact of contractual incompleteness will only increase over time. These types of unanticipated unknowns are also what drive the need for governance. As we have seen this year in DeFi, projects that attempt entirely new endeavors frequently face hacks and unexpected events. According to Prysm Group analysis, as of June 2020 over 5% ($50 million) of the $1 billion locked in DeFi projects at the time had been compromised by hacks and other unanticipated platform exploits. Since then, as the total value locked in DeFi projects has grown almost 15 times, projects have continued to be compromised via technical and economic hacks, ranging from re-entrancy to oracle manipulation. In each of these cases, the stakeholders of projects had to work among themselves and with others to diagnose the problem, propose upgrades and re-evaluate depending on unpredictable results in ways that they did not anticipate needing to do. See also: Stephanie Hurder –The Fourth Era of Blockchain Governance While blockchain projects are technical innovations, they are also economic ones. Studies such as the World Economic Forum report can show us that ultimately, at least for now, systems will perform better with pre-specified, designated places to include human judgment. The report highlights the importance of including dispute resolution as a core element of enterprise blockchain projects. Will blockchain outgrow or evolve out of the need for governance and dispute resolution? Most likely not. As blockchain as an industry matures and design improves, projects are also growing more interdependent. Taking DeFi as an example, lending and trading products almost always rely on multiple layers of lent and borrowed existing tokens and protocols as the collateral for their own products. These interdependencies make it more difficult to anticipate all potential events that can occur and predict the trickle-down impacts of an unexpected shock to a single entity in the industry. As complexity increases, the impact of contractual incompleteness will only increase over time. Anticipating all the ways that an ecosystem of complex protocols and systems may interact – and misfire – will only be more difficult. And, at least for the foreseeable future, the only solution to alleviate this is systems such as governance and dispute resolution, which apply good old human judgment. • Dispute Resolution Protocols Can Help Enterprise Adopt Blockchain • Dispute Resolution Protocols Can Help Enterprise Adopt Blockchain \|\| Dispute Resolution Protocols Can Help Enterprise Adopt Blockchain: As we approach the end of 2020, the blockchain industry is experiencing another resurgence. Bitcoin prices are hovering around all-time highs, decentralized finance, or DeFi, is exploring new offerings seemingly every week and tech stalwarts such as PayPal are integrating crypto into their offerings. These developments are positive news as we continue our efforts to build out the infrastructure of the future. They also surface areas of design and development in which we need to conduct additional research. Stephanie Hurder, a CoinDesk columnist, is a founding economist at Prysm Group , an economic advisory focused on the implementation of emerging technologies, and an academic contributor to the World Economic Forum. She has a PhD in Business Economics from Harvard. Related: Saylor Hits Back at Claims MicroStrategy's Bitcoin Trove Makes It an ETF This week, along with partners at the World Economic Forum and Latham & Watkins LLP, we published the report Bridging the Governance Gap: Dispute Resolution for Blockchain-Based Transactions. While more and more projects have invested in research and development related to governance, the area of dispute resolution, particularly for on-chain transactions, has been less frequently addressed. Focusing on enterprise applications and examining examples across industries, the report details the economic and legal importance of dispute resolution and presents a framework for types of dispute resolution systems. The four types are: Private In-Network Resolution, in which disputes are resolved by the network operator or a committee of a network Private In-Network Resolution, in which disputes are resolved by the network operator or a committee of a network Semi-Private Industry Fora, in which disputes are resolved by industry participants who may participate in resolving other disputes Litigation, in which disputes are resolved in court in the applicable legal system Story continues Common to all of these models of dispute resolution is that individuals, with varying degrees of expertise, will need to be involved in adjudicating the disputes. These individuals can be members of the network itself, industry participants or participants in the legal system with jurisdiction. Related: Money Reimagined: Bitcoin's Tug of War as Wall Street Moves In The reason for this is an economic concept called contractual incompleteness. In any agreement or contract there are circumstances that cannot be anticipated and accounted for in the initial design. When these events take place, participants may not know what to do or they may want to renegotiate and determine a new course of action. What this means for blockchain projects is the initial protocol or project code is never going to be a complete and comprehensive specification of what should occur in every circumstance. Unanticipated events and upgrades will need to be addressed by people . As complexity increases, the impact of contractual incompleteness will only increase over time. These types of unanticipated unknowns are also what drive the need for governance. As we have seen this year in DeFi, projects that attempt entirely new endeavors frequently face hacks and unexpected events. According to Prysm Group analysis, as of June 2020 over 5% ($50 million) of the $1 billion locked in DeFi projects at the time had been compromised by hacks and other unanticipated platform exploits. Since then, as the total value locked in DeFi projects has grown almost 15 times, projects have continued to be compromised via technical and economic hacks, ranging from re-entrancy to oracle manipulation. In each of these cases, the stakeholders of projects had to work among themselves and with others to diagnose the problem, propose upgrades and re-evaluate depending on unpredictable results in ways that they did not anticipate needing to do. See also: Stephanie Hurder The Fourth Era of Blockchain Governance While blockchain projects are technical innovations, they are also economic ones. Studies such as the World Economic Forum report can show us that ultimately, at least for now, systems will perform better with pre-specified, designated places to include human judgment. The report highlights the importance of including dispute resolution as a core element of enterprise blockchain projects. Will blockchain outgrow or evolve out of the need for governance and dispute resolution? Most likely not. As blockchain as an industry matures and design improves, projects are also growing more interdependent. Taking DeFi as an example, lending and trading products almost always rely on multiple layers of lent and borrowed existing tokens and protocols as the collateral for their own products. These interdependencies make it more difficult to anticipate all potential events that can occur and predict the trickle-down impacts of an unexpected shock to a single entity in the industry. As complexity increases, the impact of contractual incompleteness will only increase over time. Anticipating all the ways that an ecosystem of complex protocols and systems may interact and misfire will only be more difficult. And, at least for the foreseeable future, the only solution to alleviate this is systems such as governance and dispute resolution, which apply good old human judgment. Related Stories Dispute Resolution Protocols Can Help Enterprise Adopt Blockchain Dispute Resolution Protocols Can Help Enterprise Adopt Blockchain \|\| Why a Massive 169-Year-Old Insurance Company Just Bought $100M in Bitcoin: MassMutual becomes the latest announced institutional buyer of bitcoin, and this one could be even more significant in terms of precedent. Formore episodesand free early access before our regular 3 p.m. Eastern time releases, subscribe withApple Podcasts,Spotify,Pocketcasts,Google Podcasts,Castbox,Stitcher,RadioPublica,iHeartRadioorRSS. This episode is sponsored byCrypto.com,Nexo.ioand this week’s special product launchLVL.co. Related:Bitcoin Still on Track to Breach $20K in Coming Weeks: Analysts Download this episode • FDA panel recommends Pfizer vaccine approval as initial jobless claims soar • Antitrust lawsuit calls for Facebook breakup • Crypto-friendly CFTC chairman to resign at the beginning of the year In this episode, NLW looks at recent news that MassMutual had purchased $100 million inbitcoinfor its general account, as well as made a $5 million minority investment in $2.3 billion asset manager NYDIG, which helped facilitate the bitcoin purchase. He discusses why insurance company purchases are different than other institutional buyers like MicroStrategy, and why this might be the beginning of a more significant industry trend. See also:MassMutual Buys $100M in Bitcoin, Bets on Institutional Adoption With $5M NYDIG Stake Formore episodesand free early access before our regular 3 p.m. Eastern time releases, subscribe withApple Podcasts,Spotify,Pocketcasts,Google Podcasts,Castbox,Stitcher,RadioPublica,iHeartRadioorRSS. • Why a Massive 169-Year-Old Insurance Company Just Bought $100M in Bitcoin • Why a Massive 169-Year-Old Insurance Company Just Bought $100M in Bitcoin • Why a Massive 169-Year-Old Insurance Company Just Bought $100M in Bitcoin [Social Media Buzz] None available.	19246.64, 19417.08, 21310.60, 22805.16, 23137.96, 23869.83, 23477.29, 22803.08, 23783.03, 23241.35
Given the historical Bitcoin prices from the last 90 days, predict the next 10 daily closing prices. The historical prices are: 2515.35, 2511.81, 2686.81, 2863.20, 2732.16, 2805.62, 2823.81, 2947.71, 2958.11, 2659.63, 2717.02, 2506.37, 2464.58, 2518.56, 2655.88, 2548.29, 2589.60, 2721.79, 2689.10, 2705.41, 2744.91, 2608.72, 2589.41, 2478.45, 2552.45, 2574.79, 2539.32, 2480.84, 2434.55, 2506.47, 2564.06, 2601.64, 2601.99, 2608.56, 2518.66, 2571.34, 2518.44, 2372.56, 2337.79, 2398.84, 2357.90, 2233.34, 1998.86, 1929.82, 2228.41, 2318.88, 2273.43, 2817.60, 2667.76, 2810.12, 2730.40, 2754.86, 2576.48, 2529.45, 2671.78, 2809.01, 2726.45, 2757.18, 2875.34, 2718.26, 2710.67, 2804.73, 2895.89, 3252.91, 3213.94, 3378.94, 3419.94, 3342.47, 3381.28, 3650.62, 3884.71, 4073.26, 4325.13, 4181.93, 4376.63, 4331.69, 4160.62, 4193.70, 4087.66, 4001.74, 4100.52, 4151.52, 4334.68, 4371.60, 4352.40, 4382.88, 4382.66, 4579.02, 4565.30, 4703.39.	[Bitcoin Technical Analysis for 2017-08-31] Volume: 1944930048, RSI (14-day): 75.90, 50-day EMA: 3609.16, 200-day EMA: 2398.97 [Wider Market Context] Gold Price: 1316.20, Gold RSI: 71.17 Oil Price: 47.23, Oil RSI: 48.49 [Recent News (last 7 days)] Bitcoin's race to $5,000 on pause; Bitcoin Cash halts recent decline: Investing.com – Bitcoin traded lower on Wednesday, as investors appeared to take profit from the digital currency’s recent rally which saw it surged above $4,600 for the first time in its nine-year history. On the U.S.-based Bitfinex exchange, bitcoin fell to $4,581.9, down $26.3 or 0.57%, just shy of its recent all-time high of $4,583.8. Following its recent rally, Bitcoin is set to close more than 70% higher in August, boosting its market cap to $75.63 billion, highlighting the elevated demand for the largest cryptocurrency by market cap. Over the past year, Bitcoin has surged more than 400%, easily outperforming US stock benchmarks such as the S&P 500 and Nasdaq. In other crypto-currency trade, Bitcoin Cash rose $30.69, or 5.80%, to $565, but remained well below its peak of $935.50 while Ethereum, added 3.44% to $385.78. Bitcoin Cash was created as a result of a ‘civil war’ in Bitcoin, after some members of the bitcoin community rejected software upgrade SegWit2x – a proposal adopted by the majority of bitcoin users aimed at speeding up transactions on the bitcoin network – following concerns that SegWit2x fails to adequately address bitcoin’s scaling problem. Bitcoin transactions are limited to 1-megabyte every 10 minutes - or seven transactions per second. This compares to 2,000 per second for Visa and means that at peak times bitcoin transactions can take hours to be fulfilled, inhibiting the currency. Bitcoin Cash seeks to increase the block size to 8-megabytes whereas SegWit2X proposes moving transaction data outside of the block on a parallel track with plans to increase bitcoin’s block size later this year. To stay on top of the latest moves in the crypto-space, be sure to check out:https://www.investing.com/crypto/ Related Articles Dollar rebound on track on bullish US data Forex - Dollar adds to gains after solid U.S. data Forex - USD/CAD moves higher after strong U.S. data \|\| Bitcoin's race to $5,000 on pause; Bitcoin Cash halts recent decline: Investing.com Bitcoin traded lower on Wednesday, as investors appeared to take profit from the digital currencys recent rally which saw it surged above $4,600 for the first time in its nine-year history. On the U.S.-based Bitfinex exchange, bitcoin fell to $4,581.9, down $26.3 or 0.57%, just shy of its recent all-time high of $4,583.8. Following its recent rally, Bitcoin is set to close more than 70% higher in August, boosting its market cap to $75.63 billion, highlighting the elevated demand for the largest cryptocurrency by market cap. Over the past year, Bitcoin has surged more than 400%, easily outperforming US stock benchmarks such as the S&P 500 and Nasdaq. In other crypto-currency trade, Bitcoin Cash rose $30.69, or 5.80%, to $565, but remained well below its peak of $935.50 while Ethereum, added 3.44% to $385.78. Bitcoin Cash was created as a result of a civil war in Bitcoin, after some members of the bitcoin community rejected software upgrade SegWit2x a proposal adopted by the majority of bitcoin users aimed at speeding up transactions on the bitcoin network following concerns that SegWit2x fails to adequately address bitcoins scaling problem. Bitcoin transactions are limited to 1-megabyte every 10 minutes - or seven transactions per second. This compares to 2,000 per second for Visa and means that at peak times bitcoin transactions can take hours to be fulfilled, inhibiting the currency. Bitcoin Cash seeks to increase the block size to 8-megabytes whereas SegWit2X proposes moving transaction data outside of the block on a parallel track with plans to increase bitcoins block size later this year. To stay on top of the latest moves in the crypto-space, be sure to check out: https://www.investing.com/crypto/ Related Articles Dollar rebound on track on bullish US data Forex - Dollar adds to gains after solid U.S. data Forex - USD/CAD moves higher after strong U.S. data \|\| Bitcoin's race to $5,000 on pause; Bitcoin Cash halts recent decline: Investing.com – Bitcoin traded lower on Wednesday, as investors appeared to take profit from the digital currency’s recent rally which saw it surged above $4,600 for the first time in its nine-year history. On the U.S.-based Bitfinex exchange, bitcoin fell to $4,581.9, down $26.3 or 0.57%, just shy of its recent all-time high of $4,583.8. Following its recent rally, Bitcoin is set to close more than 70% higher in August, boosting its market cap to $75.63 billion, highlighting the elevated demand for the largest cryptocurrency by market cap. Over the past year, Bitcoin has surged more than 400%, easily outperforming US stock benchmarks such as the S&P 500 and Nasdaq. In other crypto-currency trade, Bitcoin Cash rose $30.69, or 5.80%, to $565, but remained well below its peak of $935.50 while Ethereum, added 3.44% to $385.78. Bitcoin Cash was created as a result of a ‘civil war’ in Bitcoin, after some members of the bitcoin community rejected software upgrade SegWit2x – a proposal adopted by the majority of bitcoin users aimed at speeding up transactions on the bitcoin network – following concerns that SegWit2x fails to adequately address bitcoin’s scaling problem. Bitcoin transactions are limited to 1-megabyte every 10 minutes - or seven transactions per second. This compares to 2,000 per second for Visa and means that at peak times bitcoin transactions can take hours to be fulfilled, inhibiting the currency. Bitcoin Cash seeks to increase the block size to 8-megabytes whereas SegWit2X proposes moving transaction data outside of the block on a parallel track with plans to increase bitcoin’s block size later this year. To stay on top of the latest moves in the crypto-space, be sure to check out:https://www.investing.com/crypto/ Related Articles Dollar rebound on track on bullish US data Forex - Dollar adds to gains after solid U.S. data Forex - USD/CAD moves higher after strong U.S. data \|\| Uber CEO Dara Khosrowshahi Wants to Take Company Public in the Next 3 Years: Uber’s new CEODara Khosrowshahitold employees that the ride-hailing company should go public, but not for another 18 to 36 months, according to reports citing sources at an all-hands meeting Wednesday. In his comments, some of which were shared via Twitter by reporters and Uber’s own communications team, also Khosrowshahi noted the downside of going public was the attention to metrics every quarter. Says being public 'sucks' because of the attention to metrics every quarter. Khosrowshahi, the former CEO of , will officially take over the new position on Tuesday,CNBC reported. Khosrowshahi will replaceTravis Kalanick, who resigned as Uber CEO in June after a string of embarrassing scandals in 2017 prompted investors to pressure the founder to step down. On Sunday, Uber’s board, which includes Arianna Huffington and , approved Khosrowshahi as the company’s next CEO. welcome@dkhos, we're thrilled to have you here!#UberSelfiepic.twitter.com/ziaAxufvew An Uber IPO has been hotly anticipated by investors, who placed a $68 billion valuation on the company last year. Get Data Sheet, Fortune's daily tech newsletter. Several reports, citing unnamed sources, recounted bits and pieces of the all-hands meeting, including Khosrowshahi’s comments on an IPO, his plan to focus first on the core business so Uber can start making “big bets,” and to earn back market share lost to rival Lyft. Getting the core business right (probably cash flows) so Uber can get back to focusing on the big bets that Travis put in play. “This company has to change. What got us here is not what's going to get us to the next level,” Khosrowshahi said, according to a tweet from Uber. .@dkhos: "If culture is pushed top down, then people don't believe in it. Culture is written bottoms up." Khosrowshahi also said it will be important to bring in a chairman to be his partner at the board level, which will drive agenda & rhythm of the board. See original article on Fortune.com More from Fortune.com • Expedia Promotes CFO Okerstrom to CEO After Khosrowshahi Moves to Uber • Lawsuit Against Ex-Uber CEO Travis Kalanick Heads to Arbitration • Uber Investor and Travis Kalanick Ally Decries 'Unholy Alliance of Perfidious Greed' • Uber's New CEO Is a Bitcoin Fan • Why Uber Was Right Not to Hire a Female CEO \|\| Uber CEO Dara Khosrowshahi Wants to Take Company Public in the Next 3 Years: Uber’s new CEO Dara Khosrowshahi told employees that the ride-hailing company should go public, but not for another 18 to 36 months, according to reports citing sources at an all-hands meeting Wednesday. In his comments, some of which were shared via Twitter by reporters and Uber’s own communications team, also Khosrowshahi noted the downside of going public was the attention to metrics every quarter. Says being public 'sucks' because of the attention to metrics every quarter. — Amir Efrati (@amir) August 30, 2017 Khosrowshahi, the former CEO of , will officially take over the new position on Tuesday, CNBC reported . Khosrowshahi will replace Travis Kalanick , who resigned as Uber CEO in June after a string of embarrassing scandals in 2017 prompted investors to pressure the founder to step down. On Sunday, Uber’s board, which includes Arianna Huffington and , approved Khosrowshahi as the company’s next CEO. welcome @dkhos , we're thrilled to have you here! #UberSelfie pic.twitter.com/ziaAxufvew — Ryan Graves (@ryangraves) August 30, 2017 An Uber IPO has been hotly anticipated by investors, who placed a $68 billion valuation on the company last year. Get Data Sheet , Fortune's daily tech newsletter. Several reports, citing unnamed sources, recounted bits and pieces of the all-hands meeting, including Khosrowshahi’s comments on an IPO, his plan to focus first on the core business so Uber can start making “big bets,” and to earn back market share lost to rival Lyft. Getting the core business right (probably cash flows) so Uber can get back to focusing on the big bets that Travis put in play. — Amir Efrati (@amir) August 30, 2017 “This company has to change. What got us here is not what's going to get us to the next level,” Khosrowshahi said, according to a tweet from Uber. . @dkhos : "If culture is pushed top down, then people don't believe in it. Culture is written bottoms up." — Uber Comms (@Uber_Comms) August 30, 2017 Story continues Khosrowshahi also said it will be important to bring in a chairman to be his partner at the board level, which will drive agenda & rhythm of the board. See original article on Fortune.com More from Fortune.com Expedia Promotes CFO Okerstrom to CEO After Khosrowshahi Moves to Uber Lawsuit Against Ex-Uber CEO Travis Kalanick Heads to Arbitration Uber Investor and Travis Kalanick Ally Decries 'Unholy Alliance of Perfidious Greed' Uber's New CEO Is a Bitcoin Fan Why Uber Was Right Not to Hire a Female CEO \|\| 5 Best features of YouTube redesign: This is a big week for YouTube ( GOOG , GOOGL ). Its getting a new design and new featuresall of which have been in the works, carefully and methodically, for a very long time, and all of which, as far as Im concerned, are welcome! Theres a new logo in town. Its time. As the YouTube blog points out, When YouTube launched 12 years ago, it was a single website that supported one video format, 320×240 at 4:3 aspect ratio. 320×240 pixels? Man, thats not even big enough for the YouTube logo these days. Which, by the way, is new, along with new fonts and new colors. The logo plays down the TV-ness of the old one, since, you knowwho watches TV sets anymore? On the desktop, you get four juicy new features: The weird Theater Mode button, which never really did much, now does something great. It makes the video fill the screen except for the menu bar and YouTube controls. Its one stop short of Full Screen, and genuinely useful. No more Load More buttons! The Comments scroll forever , loading more comments or videos automatically. Same thing with the thumbnails page. You can now preview a thumbnail by pointing to it without clicking. The new Dark Theme is meant for nighttime viewing so all that white isnt so blinding. It makes all the white areas of the screen black. To turn it on, click your avatar (your little account icon in the upper-right corner of the screen), click Dark Theme, and, in the resulting panel, turn on Activate Dark Theme. Heres where the Dark Theme switch is hiding. There are some changes in the phone app, too. The big one: Youve always been able to control the playback speed of a video on your computer, using the little sprocket menu. But now, finally , you can speed up or slow down playback on the app, too! The trick is to tap the three dots in the upper right, and then hit Playback Speed. In the app, the Playback speed control (left) opens up this menu of playback speeds (right). Its hard to redesign something as huge and popular as YouTube. But you know what? Theyve done it. Todays YouTube update is a big bundle of good stuff. More from David Pogue: Samsungs Bixby voice assistant is ambitious, powerful, and half-baked Story continues Is through-the-air charging a hoax? Electrify your existing bike in 2 minutes with these ingenious wheels Marty Cooper, inventor of the cellphone: The next step is implantables The David Pogue Review: Windows 10 Creators Update Now I get it: Bitcoin David Pogues search for the worlds best air-travel app The little-known iPhone feature that lets blind people see with their fingers David Pogue, tech columnist for Yahoo Finance, welcomes nontoxic comments in the comments section below. On the web, hes davidpogue.com . On Twitter, hes @pogue . On email, hes [email protected]. You can read all his articles here , or you can sign up to get his columns by email . \|\| The 5 best new features of this week's YouTube redesign: This is a big week for YouTube (GOOG,GOOGL). It’s getting a new design and new features—all of which have been in the works, carefully and methodically, for a very long time, and all of which, as far as I’m concerned, are welcome! It’s time. As theYouTube blogpoints out, “When YouTube launched 12 years ago, it was a single website that supported one video format, 320×240 at 4:3 aspect ratio.” 320×240 pixels? Man, that’s not even big enough for the YouTube logo these days. Which, by the way, is new, along with new fonts and new colors. The logo plays down the TV-ness of the old one, since, you know—who watches TV sets anymore? On the desktop, you get four juicy new features: • The weirdTheater Modebutton, which never really did much, now does something great. It makes the video fill the screen except for the menu bar and YouTube controls. It’s one stop short of Full Screen, and genuinely useful. • No more “Load More” buttons! TheComments scroll forever, loading more comments or videos automatically. Same thing with the thumbnails page. • You can nowpreview a thumbnailby pointing to it without clicking. • The newDark Themeis meant for nighttime viewing so all that white isn’t so blinding. It makes all the white areas of the screen black. To turn it on, click your avatar (your little account icon in the upper-right corner of the screen), click “Dark Theme,” and, in the resulting panel, turn on “Activate Dark Theme.” There are some changes in the phone app, too. The big one: You’ve always been able to control the playback speed of a video on your computer, using the little sprocket menu. But now,finally, you can speed up or slow down playback on the app, too! The trick is to tap the three dots in the upper right, and then hit “Playback Speed.” It’s hard to redesign something as huge and popular as YouTube. But you know what? They’ve done it. Today’s YouTube update is a big bundle of good stuff. More from David Pogue: Samsung’s Bixby voice assistant is ambitious, powerful, and half-baked Is through-the-air charging a hoax? Electrify your existing bike in 2 minutes with these ingenious wheels Marty Cooper, inventor of the cellphone: The next step is implantables The David Pogue Review: Windows 10 Creators Update Now I get it: Bitcoin David Pogue’s search for the world’s best air-travel app The little-known iPhone feature that lets blind people see with their fingers David Pogue, tech columnist for Yahoo Finance, welcomes nontoxic comments in the comments section below. On the web, he’sdavidpogue.com. On Twitter, he’s@pogue. On email, he’s [email protected]. You canread all his articles here, or you can sign up toget his columns by email. \|\| Hedge funds are cashing in on bitcoin mania — there are now more than 50 dedicated to cryptocurrencies: Bitcoin (Bitcoin themed balloons float in the air during the "Inside Bitcoins: The Future of Virtual Currency Conference" in New York.Reuters/Lucas Jackson) The market for cryptocurrencies is red-hot, and dozens of crypto-focused hedge funds are looking to get in on the action. Digital currencies, such as bitcoin, are powered by distributed ledger technology and are not controlled by a centralized authority. The market for such currencies has exploded with over 800 coins on the market with a combined marketcap of $166 billion. Autonomous NEXT, a fintech analytics firm, released a list of 55 cryptocurrency hedge funds on Tuesday, illustrating the mounting interest in the space. "Like wild mushrooms, crypto hedge funds have been taking root in the volatile and unregulated soil of the crypto economy," Autonomous NEXT said in a post on their website. "So we went digging, and digging and digging," the firm added. Many of the firms sport crypto-themed names such as Ether Capital, an homage to the token powering the ethereum blockchain, and Medici Crypto. 1confirmation is one of the youngest funds on the list. It launched on August 22 and has the backing of tech billionaire and "Shark Tank" star Mark Cuban . The meteoric rise of digital currencies such as bitcoin, which is up nearly 700% since 2016, and ether , which is up 3,300% over the same period, has drawn the attention of Wall Street. On top of this, the market for initial coin offerings, a fundraising method based on blockchain technology, is exploding with over $1.8 billion raised via ICOs since the beginning of the year, according to Autonomous NEXT. Even traditional hedge funders are paying attention. "We have seen managers invest in the actual currencies and/or in the ICOs, and soon there will be derivatives as well,” Steve Nadel, a hedge fund attorney, and partner at Seward & Kissel, said in an email sent to Business Insider. "C ryptocurrencies have garnered a fair amount of interest in the investment management space, primarily because of the returns they have recently shown," he said. Story continues Here's the full list of the crypto funds, in alphabetical order: (1) 1confirmation , (2) Alpha Bit , (3) Alphabet Coin Fund , (4) Auryn Capital , (5) BKCM Digital Asset Fund , (6) Blackmoon Crypto , (7) Bletchley Park Asset Management , (8) Block View Capital , (9) Blockchain Capital , (10) BlockStack , (11) BlockTower Capital , (12) Blueyard , (13) CoinFund LLC , (14) Coinshares 1 LP / Global Advisors , (15) Crypto Asset Fund , (16) Crypto Assets Fund , (17) Crypto Fund AG , (18) Crypto Lotus , (19) Cryptochain Capital , (20) Cryptocurrency Fund LLP , (21) Cryptor Trust , (22) Cyber Capital , (23) Digital Developers Fund , (24) Ether Capital , (25) Exagon Fund , (26) FBG Capital , (27) Fenbushi , (28) Firstchain Capital , (29) General Crypto , (30) Grasshopper Capital , (31) Hyperchain Capital , (32) ICONOMI , (33) Iterative Instinct , (34) Kenetic Capital , (35) Logos Fund , (36) Medici Crypto , (37) Metastable , (38) Monkey Capital , (39) Multicoin Capital , (40) Pantera , (41) Placeholder Capital , (42) Pollinate Capital , (43) Polychain , (44) Rich Fund , (45) Satoshi Fund , (46) Science Inc. , (47) Solidus Capital , (48) Soros Fund Management , (49) SuperBloom , (50) TAAS Fund , (51) Tezos , (52) The Token Fund , (53) Token Factory , (54) Unit Fund , (55) Venture One NOW WATCH: Shiller says bitcoin is the best example of a bubble in the market today More From Business Insider The former CIO of $3 trillion financial giant UBS has joined the non-profit behind one of the largest cryptocurrencies 'Jamie Dimon doesn't have the strongest track record when it comes to looking over the hill': Bitcoin community reacts to JPMorgan CEO's comments UK finance watchdog warns on ICOs: Be 'prepared to lose your entire stake' \|\| Hedge funds are cashing in on bitcoin mania — there are now more than 50 dedicated to cryptocurrencies: (Bitcoin themed balloons float in the air during the "Inside Bitcoins: The Future of Virtual Currency Conference" in New York.Reuters/Lucas Jackson) The market for cryptocurrencies is red-hot, and dozens of crypto-focused hedge funds are looking to get in on the action. Digital currencies, such as bitcoin, are powered by distributed ledger technology and are not controlled by a centralized authority. The market for such currencies has exploded with over 800 coins on the market with a combined marketcap of $166 billion. Autonomous NEXT, a fintech analytics firm, released a list of 55 cryptocurrency hedge funds on Tuesday, illustrating the mounting interest in the space. "Like wild mushrooms, crypto hedge funds have been taking root in the volatile and unregulated soil of the crypto economy," Autonomous NEXT said in a post on theirwebsite."So we went digging, and digging and digging," the firm added. Many of the firms sport crypto-themed names such as Ether Capital, an homage to the token powering the ethereum blockchain, and Medici Crypto. 1confirmation isone of the youngest funds on the list. It launched on August 22 andhas the backing of tech billionaire and "Shark Tank" star Mark Cuban. The meteoric rise of digital currencies such as bitcoin, which is up nearly 700% since 2016, andether, which is up 3,300% over the same period, has drawn the attention of Wall Street. On top of this, the market for initial coin offerings, a fundraising method based on blockchain technology, is exploding with over $1.8 billion raised via ICOs since the beginning of the year, according to Autonomous NEXT. Even traditional hedge funders are paying attention. "We have seen managers invest in the actual currencies and/or in the ICOs, and soon there will be derivatives as well,” Steve Nadel, a hedge fund attorney, and partner at Seward & Kissel, said in an email sent to Business Insider. "Cryptocurrencies have garnered a fair amount of interest in the investment management space, primarily because of the returns they have recently shown," he said. Here's the full list of the crypto funds, in alphabetical order: (1)1confirmation, (2)Alpha Bit, (3)Alphabet Coin Fund, (4)Auryn Capital, (5)BKCM Digital Asset Fund, (6)Blackmoon Crypto, (7)Bletchley Park Asset Management, (8)Block View Capital, (9)Blockchain Capital, (10)BlockStack, (11)BlockTower Capital, (12)Blueyard, (13)CoinFund LLC, (14)Coinshares 1 LP / Global Advisors, (15)Crypto Asset Fund, (16)Crypto Assets Fund, (17)Crypto Fund AG, (18)Crypto Lotus, (19)Cryptochain Capital, (20)Cryptocurrency Fund LLP, (21)Cryptor Trust, (22)Cyber Capital, (23)Digital Developers Fund, (24)Ether Capital, (25)Exagon Fund, (26)FBG Capital, (27)Fenbushi, (28)Firstchain Capital, (29)General Crypto, (30)Grasshopper Capital, (31)Hyperchain Capital, (32)ICONOMI, (33)Iterative Instinct, (34)Kenetic Capital, (35)Logos Fund, (36)Medici Crypto, (37)Metastable, (38)Monkey Capital, (39)Multicoin Capital, (40)Pantera, (41)Placeholder Capital, (42)Pollinate Capital, (43)Polychain, (44)Rich Fund, (45)Satoshi Fund, (46)Science Inc., (47)Solidus Capital, (48)Soros Fund Management, (49)SuperBloom, (50)TAAS Fund, (51)Tezos, (52)The Token Fund, (53)Token Factory, (54)Unit Fund, (55)Venture One NOW WATCH:Shiller says bitcoin is the best example of a bubble in the market today More From Business Insider • The former CIO of $3 trillion financial giant UBS has joined the non-profit behind one of the largest cryptocurrencies • 'Jamie Dimon doesn't have the strongest track record when it comes to looking over the hill': Bitcoin community reacts to JPMorgan CEO's comments • UK finance watchdog warns on ICOs: Be 'prepared to lose your entire stake' \|\| US GDP hits 3% in 2nd quarter: Great again? Stocks ( ^DJI , ^GSPC , ^IXIC ) climbing higher as Wall Street gets optimistic, on Main Street. Plus – Amazon’s everywhere – but one analyst thinks it’s the weakest of all big retailers. We explain And – Warren Buffett says stocks are “less attractive” now – but is there any other game in town? Plus – Overstock going crytpo – why CEO Patrick Byrne is embracing Bitcoin at the e-commerce retailer. Catch The Final Round at 4 p.m. with Dan Roberts and Yahoo Finance markets correspondent Myles Udland. Winners and losers Stocks getting hit today include Chico’s as the apparel retailer’s same store sales were worse than expected, Vera Bradley as the fashion accessories maker announced management changes that alarmed investors, and H&R Block – shares dropping as the tax-prep service posted a slightly wider-than-expected loss in its fiscal first quarter. Stocks getting a lift today include Marriott as Wolfe Research upgraded shares to ‘outperform’ from ‘peer perform.’ Netflix as as Bernstein analysts claim the loss of Disney content will be offset by international gains, and Bank of America – shares rising as Warren Buffett’s Berkshire Hathaway becomes B of A’s largest shareholder after it exercised warrants to buy 700 million shares. \|\| Stocks climb as optimism grows on Wall Street: Great again? Stocks (^DJI,^GSPC,^IXIC) climbing higher as Wall Street gets optimistic, on Main Street. Plus – Amazon’s everywhere – but one analyst thinks it’s the weakest of all big retailers. We explain And – Warren Buffett says stocks are “less attractive” now – but is there any other game in town? Plus – Overstock going crytpo – why CEO Patrick Byrne is embracing Bitcoin at the e-commerce retailer. Catch The Final Round at 4 p.m. with Dan Roberts and Yahoo Finance markets correspondent Myles Udland. Winners and losers Stocks getting hit today include Chico’s as the apparel retailer’s same store sales were worse than expected, Vera Bradley as the fashion accessories maker announced management changes that alarmed investors, and H&R Block – shares dropping as the tax-prep service posted a slightly wider-than-expected loss in its fiscal first quarter. Stocks getting a lift today include Marriott as Wolfe Research upgraded shares to ‘outperform’ from ‘peer perform.’ Netflix as as Bernstein analysts claim the loss of Disney content will be offset by international gains, and Bank of America – shares rising as Warren Buffett’s Berkshire Hathaway becomes B of A’s largest shareholder after it exercised warrants to buy 700 million shares. \|\| Dollar adds to gains after solid U.S. data: Investing.com - The dollar extended gains against a basket of the other major currencies on Wednesday as upbeat U.S. economic reports revived expectations for a third interest rate hike from the Federal Reserve this year. The U.S. dollar index, which measures the greenback’s strength against a trade-weighted basket of six major currencies, was up 0.52% at 92.75 by 10:49 AM ET (14:49 GMT). The index plumbed a low of 91.55 on Tuesday, the weakest since January 2015. The dollar was boosted after the Commerce Department reported that the U.S. economy grew by an annualized3% in the second quarter, up from an initial estimate of 2.6%. Another report showed that the U.S. private sector added a larger-than-forecast237,000 jobsin August, the largest monthly increase in five months. The dollar traded higher against the safe haven yen, with USD/JPY rising 0.5% to 110.24, having recovered from the previous session’s four-and-a-half month lows of 108.26. The greenback had risen earlier in the day as markets recovered after Monday’s slide in the wake of North Korea’s missile launch over Japan. Investors took some reassurance from President Trump’s relatively measured response. The dollar pushed higher against the Swiss franc, with USD/CHF rising 0.46% to 0.9598, well above Tuesday’s two-year trough of 0.9428. The yen and the Swissy are often sought in times of geopolitical tension or market turbulence because both countries have large current account surpluses. The euro extended losses against the dollar, with EUR/USD down 0.55% to 1.1906, having pulled away from Tuesday’s highs of 1.2069, the strongest level since Jan. 2 2015. Hopes that the European Central Bank will soon announce plans to taper its bond-buying stimulus program have driven the euro up around 13% against the dollar so far this year. Related Articles Forex - USD/CAD moves higher after strong U.S. data Forex - Dollar extends gains on upbeat U.S. data Bitcoin eases after hitting all-time high, Bitcoin Cash rises \|\| Dollar adds to gains after solid U.S. data: Dollar adds to gains after solid U.S. data Investing.com - The dollar extended gains against a basket of the other major currencies on Wednesday as upbeat U.S. economic reports revived expectations for a third interest rate hike from the Federal Reserve this year. The U.S. dollar index, which measures the greenback’s strength against a trade-weighted basket of six major currencies, was up 0.52% at 92.75 by 10:49 AM ET (14:49 GMT). The index plumbed a low of 91.55 on Tuesday, the weakest since January 2015. The dollar was boosted after the Commerce Department reported that the U.S. economy grew by an annualized 3% in the second quarter , up from an initial estimate of 2.6%. Another report showed that the U.S. private sector added a larger-than-forecast 237,000 jobs in August, the largest monthly increase in five months. The dollar traded higher against the safe haven yen, with USD/JPY rising 0.5% to 110.24, having recovered from the previous session’s four-and-a-half month lows of 108.26. The greenback had risen earlier in the day as markets recovered after Monday’s slide in the wake of North Korea’s missile launch over Japan. Investors took some reassurance from President Trump’s relatively measured response. The dollar pushed higher against the Swiss franc, with USD/CHF rising 0.46% to 0.9598, well above Tuesday’s two-year trough of 0.9428. The yen and the Swissy are often sought in times of geopolitical tension or market turbulence because both countries have large current account surpluses. The euro extended losses against the dollar, with EUR/USD down 0.55% to 1.1906, having pulled away from Tuesday’s highs of 1.2069, the strongest level since Jan. 2 2015. Hopes that the European Central Bank will soon announce plans to taper its bond-buying stimulus program have driven the euro up around 13% against the dollar so far this year. Related Articles Forex - USD/CAD moves higher after strong U.S. data Forex - Dollar extends gains on upbeat U.S. data Bitcoin eases after hitting all-time high, Bitcoin Cash rises View comments \|\| Bitcoin Payment Firm BitPesa Gets Big Boost From Famous Investor: The grandfather of venture capital just made his first bet on bitcoin.Alan Patricof, the founder and managing director of Greycroft, announced on Wednesday a $2 million investment into BitPesa, a startup that uses blockchain to speed up business payments across Africa and Asia. While the size of the investment is modest, the involvement of Patricof, one of the country’s first venture capitalists, is significant. While his firm has invested in various fintech companies--most notably Venmo, Acorns, and Braintree--Patricof and Greycroft have so far shied away from the crypto-currency space. In an interview withFortune, Patricof said his decision to back BitPesa is based on his confidence in the company’s young founder and CEO, Elizabeth Rossiello. Rossiello stands out in the digital currency world not only because she’s a woman, but because of her educational background. She studied at Columbia University’s School for International and Public Affairs, which is known as a hothouse of UN-types and lefty activists--but also snuck away to take corporate finance classes at the business school. After a stint at , Rossiello worked in Africa where she discovered how people relied on SIM cards and national phone carriers to do their banking. This experience helped her see the potential for different payment platforms--including bitcoin wallets, which let people conduct transactions without intermediary actors that siphoned off high fees. This led Rossiello to launch BitPesa as a cheap and efficient way to make business payments in places like Kenya, Nairobi, and Uganda. Increasingly, BitPesa is helping companies with more global transactions; she cited the example of an East African firm using BitPesa to purchase a fleet of cars from a Japanese exporter. Get Data Sheet,Fortune'stechnology newsletter. BitPesa, which also provides remittance services, deploys APIs to work a network of banks and mobile payments. This means that some customers may not even be aware that BitPesa is relying on the bitcoin network to conduct and record the transaction. In its latest funding round, BitPesa raised a total of $3 million from Greycroft and Plug and Play. This brings total investment in the company to over $10 million, following a $2.5 million Series A in January (which included a few very small contribution from Greycroft), and earlier investments from angels and seed investors. As for bitcoin’s volatility and relatively slow transaction speed (it takes ten minutes or more for a payment to register on the blockchain), Rossiello countered that bitcoin is infinitely superior to wire transfers, which can take days and provide unreliable records. She also noted that many African currencies are actually more volatile than bitcoin. BitPesa, however, doesn’t hold onto bitcoin to store or trade, but instead relies on third parties like bitcoin-giant Circle to provide the liquidity it needs. Patricof said he likes this attribute about the company, saying it means BitPesa is not a speculative enterprise and isn’t exposed to the price swings that regularly jolt crypto-currency markets. Patricof added that, unlike many New York venture capitalists, he does not hold any bitcoin for himself. That’s not the case, though, with Rossiello. “Of course I do,” she said. “I use it because I want to do what the experience is like for my partners. It’s as if I built a highway--I would drive a truck on it to make sure it went smoothly.” See original article on Fortune.com More from Fortune.com • Uber's New CEO Is a Bitcoin Fan • Exclusive: An Inside Look at Kim Dotcom's Bitcoin-Based Payments Platform • SEC Warns Scammers Are Using ICOs to Pump and Dump • Canada Pours Cold Water on 'Initial Coin Offerings' • Kim Dotcom Wants YouTube Stars to Test His Bitcoin Payment System \|\| Bitcoin Payment Firm BitPesa Gets Big Boost From Famous Investor: The grandfather of venture capital just made his first bet on bitcoin. Alan Patricof , the founder and managing director of Greycroft, announced on Wednesday a $2 million investment into BitPesa, a startup that uses blockchain to speed up business payments across Africa and Asia. While the size of the investment is modest, the involvement of Patricof, one of the countrys first venture capitalists, is significant. While his firm has invested in various fintech companies--most notably Venmo, Acorns, and Braintree--Patricof and Greycroft have so far shied away from the crypto-currency space. In an interview with Fortune , Patricof said his decision to back BitPesa is based on his confidence in the companys young founder and CEO, Elizabeth Rossiello. Rossiello stands out in the digital currency world not only because shes a woman, but because of her educational background. She studied at Columbia Universitys School for International and Public Affairs, which is known as a hothouse of UN-types and lefty activists--but also snuck away to take corporate finance classes at the business school. After a stint at , Rossiello worked in Africa where she discovered how people relied on SIM cards and national phone carriers to do their banking. This experience helped her see the potential for different payment platforms--including bitcoin wallets, which let people conduct transactions without intermediary actors that siphoned off high fees. This led Rossiello to launch BitPesa as a cheap and efficient way to make business payments in places like Kenya, Nairobi, and Uganda. Increasingly, BitPesa is helping companies with more global transactions; she cited the example of an East African firm using BitPesa to purchase a fleet of cars from a Japanese exporter. Get Data Sheet , Fortune's technology newsletter. BitPesa, which also provides remittance services, deploys APIs to work a network of banks and mobile payments. This means that some customers may not even be aware that BitPesa is relying on the bitcoin network to conduct and record the transaction. Story continues In its latest funding round, BitPesa raised a total of $3 million from Greycroft and Plug and Play. This brings total investment in the company to over $10 million, following a $2.5 million Series A in January (which included a few very small contribution from Greycroft), and earlier investments from angels and seed investors. As for bitcoins volatility and relatively slow transaction speed (it takes ten minutes or more for a payment to register on the blockchain), Rossiello countered that bitcoin is infinitely superior to wire transfers, which can take days and provide unreliable records. She also noted that many African currencies are actually more volatile than bitcoin. BitPesa, however, doesnt hold onto bitcoin to store or trade, but instead relies on third parties like bitcoin-giant Circle to provide the liquidity it needs. Patricof said he likes this attribute about the company, saying it means BitPesa is not a speculative enterprise and isnt exposed to the price swings that regularly jolt crypto-currency markets. Patricof added that, unlike many New York venture capitalists, he does not hold any bitcoin for himself. Thats not the case, though, with Rossiello. Of course I do, she said. I use it because I want to do what the experience is like for my partners. Its as if I built a highway--I would drive a truck on it to make sure it went smoothly. See original article on Fortune.com More from Fortune.com Uber's New CEO Is a Bitcoin Fan Exclusive: An Inside Look at Kim Dotcom's Bitcoin-Based Payments Platform SEC Warns Scammers Are Using ICOs to Pump and Dump Canada Pours Cold Water on 'Initial Coin Offerings' Kim Dotcom Wants YouTube Stars to Test His Bitcoin Payment System \|\| Bitcoin Payment Firm BitPesa Gets Big Boost From Famous Investor: The grandfather of venture capital just made his first bet on bitcoin.Alan Patricof, the founder and managing director of Greycroft, announced on Wednesday a $2 million investment into BitPesa, a startup that uses blockchain to speed up business payments across Africa and Asia. While the size of the investment is modest, the involvement of Patricof, one of the country’s first venture capitalists, is significant. While his firm has invested in various fintech companies--most notably Venmo, Acorns, and Braintree--Patricof and Greycroft have so far shied away from the crypto-currency space. In an interview withFortune, Patricof said his decision to back BitPesa is based on his confidence in the company’s young founder and CEO, Elizabeth Rossiello. Rossiello stands out in the digital currency world not only because she’s a woman, but because of her educational background. She studied at Columbia University’s School for International and Public Affairs, which is known as a hothouse of UN-types and lefty activists--but also snuck away to take corporate finance classes at the business school. After a stint at , Rossiello worked in Africa where she discovered how people relied on SIM cards and national phone carriers to do their banking. This experience helped her see the potential for different payment platforms--including bitcoin wallets, which let people conduct transactions without intermediary actors that siphoned off high fees. This led Rossiello to launch BitPesa as a cheap and efficient way to make business payments in places like Kenya, Nairobi, and Uganda. Increasingly, BitPesa is helping companies with more global transactions; she cited the example of an East African firm using BitPesa to purchase a fleet of cars from a Japanese exporter. Get Data Sheet,Fortune'stechnology newsletter. BitPesa, which also provides remittance services, deploys APIs to work a network of banks and mobile payments. This means that some customers may not even be aware that BitPesa is relying on the bitcoin network to conduct and record the transaction. In its latest funding round, BitPesa raised a total of $3 million from Greycroft and Plug and Play. This brings total investment in the company to over $10 million, following a $2.5 million Series A in January (which included a few very small contribution from Greycroft), and earlier investments from angels and seed investors. As for bitcoin’s volatility and relatively slow transaction speed (it takes ten minutes or more for a payment to register on the blockchain), Rossiello countered that bitcoin is infinitely superior to wire transfers, which can take days and provide unreliable records. She also noted that many African currencies are actually more volatile than bitcoin. BitPesa, however, doesn’t hold onto bitcoin to store or trade, but instead relies on third parties like bitcoin-giant Circle to provide the liquidity it needs. Patricof said he likes this attribute about the company, saying it means BitPesa is not a speculative enterprise and isn’t exposed to the price swings that regularly jolt crypto-currency markets. Patricof added that, unlike many New York venture capitalists, he does not hold any bitcoin for himself. That’s not the case, though, with Rossiello. “Of course I do,” she said. “I use it because I want to do what the experience is like for my partners. It’s as if I built a highway--I would drive a truck on it to make sure it went smoothly.” See original article on Fortune.com More from Fortune.com • Uber's New CEO Is a Bitcoin Fan • Exclusive: An Inside Look at Kim Dotcom's Bitcoin-Based Payments Platform • SEC Warns Scammers Are Using ICOs to Pump and Dump • Canada Pours Cold Water on 'Initial Coin Offerings' • Kim Dotcom Wants YouTube Stars to Test His Bitcoin Payment System \|\| WhopperCoin: Burger King Debuts Its Own ‘Bitcoin’ in Russia: Burger King, which belongs to Restaurant Brands International Inc (NYSE: QSR ), is introducing its own take on Bitcoin in Russia and its name is “WhopperCoin.” WhopperCoin: Burger King Debuts Its Own 'Bitcoin' in Russia Source: Shutterstock The WhopperCoin will be available to customers in Russia that sign up for a new rewards program. This program will give customers one of the digital coins for each ruble that they spend at the restaurant. Customers that collect enough of the WhopperCoins can trade them in for food. Burger King will require 1,700 coins of the virtual currency to be traded in for a Whopper. The company will be creating a total of 1 billion of the digital coins to reward customers with. InvestorPlace - Stock Market News, Stock Advice & Trading Tips Burger King says that it is also planning to introduce a new mobile app that will allow customers to track their Whoppercoins. The app is ready yet, but should be out in the near future. It will be available for devices running Apple Inc’s (NASDAQ: AAPL ) iOS and Alphabet Inc’s (NASDAQ: GOOG , GOOGL ) Google Android operating systems, reports Coindesk . “We are pleased that Burger King Russia has chosen Waves as a platform for launching its loyalty program and the emission of WhopperCoin,” Maxim Pertsovsky, Business Development Director of Waves Platform, said in a statement . “We are confident that this decision will promote the popularization of blockade technology in Russia, and will also bring its benefits and opportunities to a wide audience.” 10 Dividend Stocks That Will Deliver Double-Digit Returns Every Year While WhopperCoin is the first, it likely won’t be the last cryptocurrency made by a company. Dr Garrick Hileman, of the Cambridge Centre for Alternative Finance, says that he expects other companies to create their own virtual currencies for use in rewards programs. More From InvestorPlace 10 Investments You Should Hold in an IRA The 7 Best Stocks to Survive a Chaotic Next Few Months 6 Crumbling Tech Stocks That Will Bury You Alive As of this writing, William White did not hold a position in any of the aforementioned securities. The post WhopperCoin: Burger King Debuts Its Own ‘Bitcoin’ in Russia appeared first on InvestorPlace . \|\| WhopperCoin: Burger King Debuts Its Own ‘Bitcoin’ in Russia: Burger King, which belongs to Restaurant Brands International Inc (NYSE: QSR ), is introducing its own take on Bitcoin in Russia and its name is “WhopperCoin.” WhopperCoin: Burger King Debuts Its Own 'Bitcoin' in Russia Source: Shutterstock The WhopperCoin will be available to customers in Russia that sign up for a new rewards program. This program will give customers one of the digital coins for each ruble that they spend at the restaurant. Customers that collect enough of the WhopperCoins can trade them in for food. Burger King will require 1,700 coins of the virtual currency to be traded in for a Whopper. The company will be creating a total of 1 billion of the digital coins to reward customers with. InvestorPlace - Stock Market News, Stock Advice & Trading Tips Burger King says that it is also planning to introduce a new mobile app that will allow customers to track their Whoppercoins. The app is ready yet, but should be out in the near future. It will be available for devices running Apple Inc’s (NASDAQ: AAPL ) iOS and Alphabet Inc’s (NASDAQ: GOOG , GOOGL ) Google Android operating systems, reports Coindesk . “We are pleased that Burger King Russia has chosen Waves as a platform for launching its loyalty program and the emission of WhopperCoin,” Maxim Pertsovsky, Business Development Director of Waves Platform, said in a statement . “We are confident that this decision will promote the popularization of blockade technology in Russia, and will also bring its benefits and opportunities to a wide audience.” 10 Dividend Stocks That Will Deliver Double-Digit Returns Every Year While WhopperCoin is the first, it likely won’t be the last cryptocurrency made by a company. Dr Garrick Hileman, of the Cambridge Centre for Alternative Finance, says that he expects other companies to create their own virtual currencies for use in rewards programs. More From InvestorPlace 10 Investments You Should Hold in an IRA The 7 Best Stocks to Survive a Chaotic Next Few Months 6 Crumbling Tech Stocks That Will Bury You Alive As of this writing, William White did not hold a position in any of the aforementioned securities. The post WhopperCoin: Burger King Debuts Its Own ‘Bitcoin’ in Russia appeared first on InvestorPlace . \|\| WhopperCoin: Burger King Debuts Its Own ‘Bitcoin’ in Russia: Burger King, which belongs to Restaurant Brands International Inc (NYSE: QSR ), is introducing its own take on Bitcoin in Russia and its name is “WhopperCoin.” WhopperCoin: Burger King Debuts Its Own 'Bitcoin' in Russia Source: Shutterstock The WhopperCoin will be available to customers in Russia that sign up for a new rewards program. This program will give customers one of the digital coins for each ruble that they spend at the restaurant. Customers that collect enough of the WhopperCoins can trade them in for food. Burger King will require 1,700 coins of the virtual currency to be traded in for a Whopper. The company will be creating a total of 1 billion of the digital coins to reward customers with. InvestorPlace - Stock Market News, Stock Advice & Trading Tips Burger King says that it is also planning to introduce a new mobile app that will allow customers to track their Whoppercoins. The app is ready yet, but should be out in the near future. It will be available for devices running Apple Inc’s (NASDAQ: AAPL ) iOS and Alphabet Inc’s (NASDAQ: GOOG , GOOGL ) Google Android operating systems, reports Coindesk . “We are pleased that Burger King Russia has chosen Waves as a platform for launching its loyalty program and the emission of WhopperCoin,” Maxim Pertsovsky, Business Development Director of Waves Platform, said in a statement . “We are confident that this decision will promote the popularization of blockade technology in Russia, and will also bring its benefits and opportunities to a wide audience.” 10 Dividend Stocks That Will Deliver Double-Digit Returns Every Year While WhopperCoin is the first, it likely won’t be the last cryptocurrency made by a company. Dr Garrick Hileman, of the Cambridge Centre for Alternative Finance, says that he expects other companies to create their own virtual currencies for use in rewards programs. More From InvestorPlace 10 Investments You Should Hold in an IRA The 7 Best Stocks to Survive a Chaotic Next Few Months 6 Crumbling Tech Stocks That Will Bury You Alive As of this writing, William White did not hold a position in any of the aforementioned securities. The post WhopperCoin: Burger King Debuts Its Own ‘Bitcoin’ in Russia appeared first on InvestorPlace . \|\| USD/CAD moves higher after strong U.S. data: Greenback climbs against loonie, U.S. data supports Investing.com - The U.S. dollar moved higher against its Canadian counterpart on Wednesday, boosted by strong U.S. economic reports, while lower oil prices dampened demand for the commodity-related Canadian currency. USD/CAD was up 0.54% at 1.25678 by by 09.30 a.m. ET (13:30 GMT), the highest since August 23. The U.S. dollar found support after data showed that the U.S. private sector added more jobs than expected in July . In addition, a preliminary report showed that U.S. economic growth for the second quarter was revised even higher expected . The greenback had come under broad selling pressure following North Korea's missile launch over on Monday . But market sentiment improved as U.S. President Donald Trump's reaction to the North Korean aggression was seen as more moderate than in the past. The U.S. President did warn that "all options are on the table" however. Market participants were also monitoring developments in Texas, as flooding due to Tropical Storm Harvey has shut nearly a fifth of U.S. oil-refining capacity. Oil prices were trading lower on Wednesday, as traders were eyeing the weekly report on U.S. crude inventories due later in the day. In Canada, data earlier showed that the current account deficit widened to only C$16.3 billion in the second quarter from C$12.9 billion in the first quarter, whose figure was revised from a previously estimated deficit of C$14.1 billion. Analysts had expected the current account deficit to widen to C$17.4 billion in the last quarter. The loonie was also lower against the euro, with EUR/CAD adding 0.12% to 1.4998. Related Articles Forex - Dollar extends gains on upbeat U.S. data Bitcoin eases after hitting all-time high, Bitcoin Cash rises Forex - Dollar holds onto gains with U.S. data on tap [Social Media Buzz] BTC Real Time Price: ThePriceOfBTC: $4702.37 #GDAX; $4712.00 #bitstamp; $4706.30 #gemini; $4703.00 #kraken; $4694.98 #hitbtc; $4767.82 #cex; \|\| 31 Ağustos 2017 Saat 21:00:26, 1 BTC Kaç TL, 16.372,20 TL. #BitcoinTL #btctry #BitcoinNeKadarhttp://www.doviz724.com/1-bitcoin-kac-tl.html … \|\| LIVE: Profit = $3,254.34 (83.43 %). BUY B1.49 @ $3,100.00 (#VirCurex). SELL @ $4,751.00 (#BitKonan) #bitcoin #btc - http://www.projectcoin.org \|\| 09/01 03:00 Crypto currency sentiment analysis. BTC : Positive BC...	4892.01, 4578.77, 4582.96, 4236.31, 4376.53, 4597.12, 4599.88, 4228.75, 4226.06, 4122.94
Given the historical Bitcoin prices from the last 90 days, predict the next 10 daily closing prices. The historical prices are: 240.95, 237.11, 237.12, 237.28, 237.41, 237.10, 233.35, 230.19, 222.93, 225.80, 225.87, 224.32, 224.95, 225.62, 222.88, 228.49, 229.05, 228.80, 229.71, 229.98, 232.40, 233.54, 236.82, 250.90, 249.28, 249.01, 244.61, 245.21, 243.94, 246.99, 244.30, 240.51, 242.80, 243.59, 250.99, 249.01, 257.06, 263.07, 258.62, 255.41, 256.34, 260.89, 271.91, 269.03, 266.21, 270.79, 269.23, 284.89, 293.11, 310.87, 292.05, 287.46, 285.83, 278.09, 279.47, 274.90, 273.61, 278.98, 275.83, 277.22, 276.05, 288.28, 288.70, 292.69, 293.62, 294.43, 289.59, 287.72, 284.65, 281.60, 282.61, 281.23, 285.22, 281.88, 278.58, 279.58, 261.00, 265.08, 264.47, 270.39, 266.38, 264.08, 265.68, 261.55, 258.51, 257.98, 211.08, 226.68, 235.35, 232.57.	[Bitcoin Technical Analysis for 2015-08-21] Volume: 23173800, RSI (14-day): 35.25, 50-day EMA: 263.35, 200-day EMA: 260.83 [Wider Market Context] Gold Price: 1159.60, Gold RSI: 68.78 Oil Price: 40.45, Oil RSI: 26.02 [Recent News (last 7 days)] 3 names to watch on biotech beatdown: The cholesterol drug space is set to get a little more crowded, and "Fast Money" traders believe one company should benefit most. Amgen (NASDAQ: AMGN) could get approval for its new cholesterol treatment as early as next week. The medicine would compete with one already offered by Regeneron Pharmaceuticals (NASDAQ: REGN) . Amgen shed more than 3 percent, closing at about $161 per share Thursday amid a broader selloff in the sector. If it loses more ground to $150 a share, investors may want to scoop it up as it brings the new drug to market, said trader Dan Nathan. "Amgen is the sort of stock that you want to buy if it gets too oversold," he said. Read More Buy the biotech bounce: Technician Regeneron remains a "great company," but its valuation seems too lofty, added trader Guy Adami. He would also prefer Amgen shares. Trader Brian Kelly pointed to the iShares Nasdaq Biotechnology ETF (NASDAQ: IBB) , which plunged 4 percent on Thursday to close below $351. If the fund dips down to $340, he would look to buy in. Disclosures: Dan Nathan Dan is long QQQ sept put, JOY sept calls, TWTR, PG, BA sept put spread, COST aug put spread, TJX aug put, MSFT aug / nov put spread, GOOGL Sept put spread, XRT sept put spread. Today he sold to close SLB puts. Brian Kelly Brian Kelly is long BBRY, BTC=; ITB, TAN, TSL, the VIX, TWTR call spread, Euro; he is short AUDJPY, GBPJPY, CAC40, Ruble, Yuan. Karen Finerman Karen is long BABA, BAC, C, FINL, FL, GOOG, GOOGL, JPM, KORS, M, SUNE calls, BABA puts, she is short SPY, Her firm is long ANTM, AAPL, BAC, C, DIS, FBT, FINL, FL, GOOG, GOOGL, GPS, IBB, JPM, KORS, M, SUNE, URI, XBI, KORS call spreads, M call spreads, SUNE call spreads, GAP puts, KORS puts, SUNE puts, her firm is short IWM, SPY, MDY, Karen Finerman is on the board of GrafTech International. Guy Adami Guy Adami is long CELG, EXAS, INTC, Guy Adami's wife, Linda Snow, works at Merck. More From CNBC Top News and Analysis Latest News Video Personal Finance \|\| 3 names to watch on biotech beatdown: The cholesterol drug space is set to get a little more crowded, and"Fast Money"traders believe one company should benefit most. Amgen(NASDAQ: AMGN)could get approval for its new cholesterol treatment as early as next week. The medicine would compete with one already offered by Regeneron Pharmaceuticals(NASDAQ: REGN). Amgen shed more than 3 percent, closing at about $161 per share Thursday amid a broader selloff in the sector. If it loses more ground to $150 a share, investors may want to scoop it up as it brings the new drug to market, said trader Dan Nathan. "Amgen is the sort of stock that you want to buy if it gets too oversold," he said. Read MoreBuy the biotech bounce: Technician Regeneron remains a "great company," but its valuation seems too lofty, added trader Guy Adami. He would also prefer Amgen shares. Trader Brian Kelly pointed to the iShares Nasdaq Biotechnology ETF(NASDAQ: IBB), which plunged 4 percent on Thursday to close below $351. If the fund dips down to $340, he would look to buy in. Disclosures: Dan Nathan Dan is long QQQ sept put, JOY sept calls, TWTR, PG, BA sept put spread, COST aug put spread, TJX aug put, MSFT aug / nov put spread, GOOGL Sept put spread, XRT sept put spread. Today he sold to close SLB puts. Brian Kelly Brian Kelly is long BBRY, BTC=; ITB, TAN, TSL, the VIX, TWTR call spread, Euro; he is short AUDJPY, GBPJPY, CAC40, Ruble, Yuan. Karen Finerman Karen is long BABA, BAC, C, FINL, FL, GOOG, GOOGL, JPM, KORS, M, SUNE calls, BABA puts, she is short SPY, Her firm is long ANTM, AAPL, BAC, C, DIS, FBT, FINL, FL, GOOG, GOOGL, GPS, IBB, JPM, KORS, M, SUNE, URI, XBI, KORS call spreads, M call spreads, SUNE call spreads, GAP puts, KORS puts, SUNE puts, her firm is short IWM, SPY, MDY, Karen Finerman is on the board of GrafTech International. Guy Adami Guy Adami is long CELG, EXAS, INTC, Guy Adami's wife, Linda Snow, works at Merck. More From CNBC • Top News and Analysis • Latest News Video • Personal Finance \|\| Could this split be the end of bitcoin?: With a market valued currently at more than $3 billion, and hundreds of millions invested in related technologies, a lot is riding on bitcoin(: BTC=). But the digital token some say could replace government-backed currencies is facing a crisis that experts warn could potentially render it worthless. Over the weekend, two well-known bitcoin developers "forked" the technology, releasing software that will allow the community to split away from the core program. This contentious split arose overa long-running squabblebetween developers that started as a disagreement about the way data is packaged, and morphed into a philosophical question about the future of the technology. That very future-as CNBC predicted in July-could conceivably be threatened by the new software-called Bitcoin XT. "Contentious hard forks are bad for Bitcoin," the semi-official site Bitcoin.org's David Harding wrote ina policy post. A "hard" fork such as XT is not backwards-compatible with other versions of the software, meaning that any divergence in adoption is more difficult to reconcile. "At the very best, a contentious hard fork will leave people who chose the losing side of the fork feeling disenfranchised. At the very worst, it will make bitcoins permanently lose their value. In between are many possible outcomes, but none of them are good," the post continued. Here's the gist of the squabble: Bitcoin transactions are packaged into blocks before being recorded on bitcoin's permanent ledger. Developers disagree over what the maximum size of those blocks should be. On one hand, smaller means more security, but on the other hand bigger means that bitcoin technology can more easily scale into wider adoption and noncurrency applications. And beyond just the technical matter, the fight comes down to a more human dilemma: Who gets to decide which way the whole community, which is effectively leaderless, has to go? Mike Hearn, one of the developers behind XT,wrote in a lengthy postexplaining the fork that the current limitations of the original software are blocking the growth of bitcoin and its blockchain currency. He disputed Bitcoin.org's assessment of worst-case scenarios, and said that the fork may be the best way to save the currency from becoming irrelevant. Read MoreThe details of the debate can be found here. "There's no reason to believe a hard fork would make bitcoins permanently lose their value. On the contrary, it should increase them, as it'd prove the system is robust against poor decisions by any one group of developers," Hearn said in an email to CNBC. "By asking Bitcoin users to believe that a contentious fork can destroy the system, all they're really saying is that the community must obey the wishes of a tiny group of developers regardless of whether those wishes are bad or not." The way the XT fork works is that miners (who process transactions by solving complex math problems) can vote for whether they want to switch to the new system or stick with the core program. After Jan. 11, 2016, once 75 percent of mining power is voting for the fork, a two-week waiting period begins, and then the new rules take effect. Several polls and projections have indicated that miners may favor the primary XT change-making the maximum size for a "block" of data eight megabytes instead of one megabyte-so a fork could be in the future. Still, several core developers of the technology-who have taken over maintenance and growth of the technology from mysterious creator Satoshi Nakamoto-have come out against the change, and online discussions seem to indicate an ideological split in the community. Those core developers against the block size increase either did not respond to request for comment from CNBC or denied via a representative. But Adam Back, who developed one of the key algorithms behind bitcoin and still works with core developers, said the complaints about XT are manyfold, including worries that a 75 percent activation vote is too low, and that some of the other changes to the program are not sufficiently secure. Back said the community is actively working on finding solutions (with developer workshops scheduled) to the block size problem, and that jumping ahead of the normal review system is "a little puzzling" and "kind of disappointing." One major expert in the communitywrote in a Reddit postthat XT "represents a somewhat reckless approach, which in the name of advancement shatters existing structures, fragments the community and spins the ecosystem into chaos." Read MoreBitcoin firm raises $116M, including Qualcomm investment Hearn, however, told CNBC he thinks that assessment is "completely wrong," and that the XT approach has been debated for month with every objection considered. After all, the development of the potentially world-changing Bitcoin technology has been largely developedwithoutmuch structure, he said. "You can't shatter something that doesn't exist. Unfortunately a whole lot of people in the bitcoin community who aren't [closely] involved haven't fully realized or accepted how ad-hoc the Bitcoin Core project truly is," Hearn said, adding that "underlying contradictions and inability to make decisions" are actually the major problems that XT seeks to address. Hearn's desire to alter the decision-making process behind bitcoin would see him and XT co-developer Gavin Andresen jointly managing the technology, rather than a group of developers. Back acknowledged that the emergence of XT partially stems from resentment about other developers' ideas being shot down, but he said he believed a distributed power structure works best. "It's intentionally a decentralized process. People are worried that with $4 billion on the line someone could be blackmailed or could intentionally insert a bug," Back said. "They didn't think about the risks of being the sole maintainer of $4 billion of other people's money.... They're not thinking ahead far enough about the implications for all of this." (Thetotal value of all existing Bitcoinswas about $4 billion at the beginning of August; it's closer to $3.4 billion now.) As for concerns that his actions could spin the multibillion-dollar ecosystem into chaos, Hearn said he is in fact saving the technology. "[Andresen] and myself have said since the start that Bitcoin is a risky experiment. I'm sure everyone who invested knew that," Hearn wrote. "But if they invested, they presumably invested in the hope that Bitcoin would take off and become really mainstream. Right now, the only way to get there is via Bitcoin XT. So they should consider helping us out to ensure the outcome they would like." Investor Roger Ver-so-called "Bitcoin Jesus"-is one of several prominent voices in the community to voice his approval of the XT project. Additionally, a statement from all of the Chinese mining pools-which account for much of the power in the network-came out in favor of a block size increase. Still, Hearn could not say how he thought the community would swing, but underscored his contention that a vote for the core software could stymie future growth. "Well, Bitcoin will still exist no matter what happens. But obviously if there's no chance of growth and the community decides to follow the Bitcoin Core developers (without even knowing who exactly is in that group), then a whole lot of other developers and entrepreneurs will leave," Hearn said. "Because you can't build a successful business on an infrastructure with no chances of growth." All of this occurs against a background of increasing corporate and financial interest in bitcoin and its backing blockchain technology. Bitcoin runs on a blockchain that is more secure and decentralized than any of its competitors because of its large user base and its comparatively lengthy history. If those users were to splinter, then the entire enterprise could be compromised. Read MoreWhy is it called the 'blockchain?' Hearn wrote in his explanation of the fork that there are few risks of breaking the community: If less than 75 percent votes for XT, then nothing changes, and if more than 75 percent is in favor, then the rest of the marketplace will follow suit so as not to be left behind. "We don't think the sky will fall if the chain forks. We think people on the small-blocks side of the chain will upgrade and continue on the bigger-blocks side. There will be plenty of time for them to know about the change and prepare," he wrote. Still, if a sizable minority decides to hold out against XT and its bigger blocks, then presplit bitcoins could be spent twice-violating one of the key facets of the digital currency, and potentially harming trust. Back warned that the results of the fork could be disastrous. Anti-XT programs have sprung up to corrupt the vote, so even if it appears that there's been a 75 percent majority, the community could still be split 50-50. "If you get some kind of 50-50 split," Back explained, "you have two ledgers, not accepting each other's blocks ... inconsistent ledgers and exchanges that were out hundreds of thousands, or millions, of dollars." "Nobody wants it to go there, but the Bitcoin XT thing is teetering into a dangerous situation and dynamic," he added. "The safest thing to do is to stop that dynamic well before activation." Jeff Garzik, another bitcoin core developer who has expressed support for bigger blocks, told CNBC in June that creating a contentious fork would be the "worst of all possible options." As Hearn said in his letter to the community: "So this is it. Here we are." More From CNBC • Top News and Analysis • Latest News Video • Personal Finance \|\| Could this split be the end of bitcoin?: With a market valued currently at more than $3 billion, and hundreds of millions invested in related technologies, a lot is riding on bitcoin (: BTC=) . But the digital token some say could replace government-backed currencies is facing a crisis that experts warn could potentially render it worthless. Over the weekend, two well-known bitcoin developers "forked" the technology, releasing software that will allow the community to split away from the core program. This contentious split arose over a long-running squabble between developers that started as a disagreement about the way data is packaged, and morphed into a philosophical question about the future of the technology. That very future- as CNBC predicted in July -could conceivably be threatened by the new software-called Bitcoin XT. "Contentious hard forks are bad for Bitcoin," the semi-official site Bitcoin.org's David Harding wrote in a policy post . A "hard" fork such as XT is not backwards-compatible with other versions of the software, meaning that any divergence in adoption is more difficult to reconcile. "At the very best, a contentious hard fork will leave people who chose the losing side of the fork feeling disenfranchised. At the very worst, it will make bitcoins permanently lose their value. In between are many possible outcomes, but none of them are good," the post continued. Here's the gist of the squabble: Bitcoin transactions are packaged into blocks before being recorded on bitcoin's permanent ledger. Developers disagree over what the maximum size of those blocks should be. On one hand, smaller means more security, but on the other hand bigger means that bitcoin technology can more easily scale into wider adoption and noncurrency applications. And beyond just the technical matter, the fight comes down to a more human dilemma: Who gets to decide which way the whole community, which is effectively leaderless, has to go? Story continues Mike Hearn, one of the developers behind XT, wrote in a lengthy post explaining the fork that the current limitations of the original software are blocking the growth of bitcoin and its blockchain currency. He disputed Bitcoin.org's assessment of worst-case scenarios, and said that the fork may be the best way to save the currency from becoming irrelevant. Read More The details of the debate can be found here. "There's no reason to believe a hard fork would make bitcoins permanently lose their value. On the contrary, it should increase them, as it'd prove the system is robust against poor decisions by any one group of developers," Hearn said in an email to CNBC. "By asking Bitcoin users to believe that a contentious fork can destroy the system, all they're really saying is that the community must obey the wishes of a tiny group of developers regardless of whether those wishes are bad or not." The way the XT fork works is that miners (who process transactions by solving complex math problems) can vote for whether they want to switch to the new system or stick with the core program. After Jan. 11, 2016, once 75 percent of mining power is voting for the fork, a two-week waiting period begins, and then the new rules take effect. Several polls and projections have indicated that miners may favor the primary XT change-making the maximum size for a "block" of data eight megabytes instead of one megabyte-so a fork could be in the future. Still, several core developers of the technology-who have taken over maintenance and growth of the technology from mysterious creator Satoshi Nakamoto-have come out against the change, and online discussions seem to indicate an ideological split in the community. Those core developers against the block size increase either did not respond to request for comment from CNBC or denied via a representative. But Adam Back, who developed one of the key algorithms behind bitcoin and still works with core developers, said the complaints about XT are manyfold, including worries that a 75 percent activation vote is too low, and that some of the other changes to the program are not sufficiently secure. Back said the community is actively working on finding solutions (with developer workshops scheduled) to the block size problem, and that jumping ahead of the normal review system is "a little puzzling" and "kind of disappointing." One major expert in the community wrote in a Reddit post that XT "represents a somewhat reckless approach, which in the name of advancement shatters existing structures, fragments the community and spins the ecosystem into chaos." Read More Bitcoin firm raises $116M, including Qualcomm investment Hearn, however, told CNBC he thinks that assessment is "completely wrong," and that the XT approach has been debated for month with every objection considered. After all, the development of the potentially world-changing Bitcoin technology has been largely developed without much structure, he said. "You can't shatter something that doesn't exist. Unfortunately a whole lot of people in the bitcoin community who aren't [closely] involved haven't fully realized or accepted how ad-hoc the Bitcoin Core project truly is," Hearn said, adding that "underlying contradictions and inability to make decisions" are actually the major problems that XT seeks to address. Hearn's desire to alter the decision-making process behind bitcoin would see him and XT co-developer Gavin Andresen jointly managing the technology, rather than a group of developers. Back acknowledged that the emergence of XT partially stems from resentment about other developers' ideas being shot down, but he said he believed a distributed power structure works best. "It's intentionally a decentralized process. People are worried that with $4 billion on the line someone could be blackmailed or could intentionally insert a bug," Back said. "They didn't think about the risks of being the sole maintainer of $4 billion of other people's money.... They're not thinking ahead far enough about the implications for all of this." (The total value of all existing Bitcoins was about $4 billion at the beginning of August; it's closer to $3.4 billion now.) As for concerns that his actions could spin the multibillion-dollar ecosystem into chaos, Hearn said he is in fact saving the technology. "[Andresen] and myself have said since the start that Bitcoin is a risky experiment. I'm sure everyone who invested knew that," Hearn wrote. "But if they invested, they presumably invested in the hope that Bitcoin would take off and become really mainstream. Right now, the only way to get there is via Bitcoin XT. So they should consider helping us out to ensure the outcome they would like." Investor Roger Ver- so-called "Bitcoin Jesus" -is one of several prominent voices in the community to voice his approval of the XT project. Roger Ver tweet. Additionally, a statement from all of the Chinese mining pools-which account for much of the power in the network-came out in favor of a block size increase. Still, Hearn could not say how he thought the community would swing, but underscored his contention that a vote for the core software could stymie future growth. "Well, Bitcoin will still exist no matter what happens. But obviously if there's no chance of growth and the community decides to follow the Bitcoin Core developers (without even knowing who exactly is in that group), then a whole lot of other developers and entrepreneurs will leave," Hearn said. "Because you can't build a successful business on an infrastructure with no chances of growth." All of this occurs against a background of increasing corporate and financial interest in bitcoin and its backing blockchain technology. Bitcoin runs on a blockchain that is more secure and decentralized than any of its competitors because of its large user base and its comparatively lengthy history. If those users were to splinter, then the entire enterprise could be compromised. Read More Why is it called the 'blockchain?' Hearn wrote in his explanation of the fork that there are few risks of breaking the community: If less than 75 percent votes for XT, then nothing changes, and if more than 75 percent is in favor, then the rest of the marketplace will follow suit so as not to be left behind. "We don't think the sky will fall if the chain forks. We think people on the small-blocks side of the chain will upgrade and continue on the bigger-blocks side. There will be plenty of time for them to know about the change and prepare," he wrote. Still, if a sizable minority decides to hold out against XT and its bigger blocks, then presplit bitcoins could be spent twice-violating one of the key facets of the digital currency, and potentially harming trust. Back warned that the results of the fork could be disastrous. Anti-XT programs have sprung up to corrupt the vote, so even if it appears that there's been a 75 percent majority, the community could still be split 50-50. "If you get some kind of 50-50 split," Back explained, "you have two ledgers, not accepting each other's blocks ... inconsistent ledgers and exchanges that were out hundreds of thousands, or millions, of dollars." "Nobody wants it to go there, but the Bitcoin XT thing is teetering into a dangerous situation and dynamic," he added. "The safest thing to do is to stop that dynamic well before activation." Jeff Garzik, another bitcoin core developer who has expressed support for bigger blocks, told CNBC in June that creating a contentious fork would be the "worst of all possible options." As Hearn said in his letter to the community: "So this is it. Here we are." More From CNBC Top News and Analysis Latest News Video Personal Finance \|\| Pot-Friendly Candidates Emerge In 2016 Election: Marijuana will play an unprecedented role in the 2016 Presidential race as the drug has never before been regarded by the public in such a favorable light. In previous elections, marijuana was used as a weapon and candidate after candidate denied using, or liking the drug at all. However, this year pot is expected to come up several times on the campaign train, but as an issue rather than a shameful allegation. A Big Issue? It remains to be seen just how important a candidate's stance on marijuana legalization will be when it comes to the election. Most candidates have been vague about their views on the drug, saying that the Obama administration's decision to let states decide for themselves whether or not marijuana should be legalized has provided a good framework to see just how a legal marijuana market will affect the United States. Related Link:How Every Presidential Candidate Wants To Change The Economy Pot Friendly Candidates Ted Cruz and Rand Paul havevoiced their supportfor the marijuana market, saying that it should be each state's right to determine the laws governing marijuana. Paul also became the first candidate toturn to marijuana industry groupsfor campaign support. Others, like Chris Christie claim they will take a hardline against marijuana and reverse states' decisions to legalize the drug. Unknown Others, like Hillary Clinton, have taken a wishy-washy view— saying that they'd like to see how things go in Colorado and Oregon before making a firm decision or avoiding the issue all together. However, this week, Bernie Sanders appeared to be planning to take a stand on marijuana and many speculate that stand will be pro-legalization. On Tuesday, Sanders spoke out against the war on drugs and promised voters that his campaign would release his marijuana platform in a month. See more from Benzinga • Despite Record Profits, Turbulence Ahead For The Airline Industry • One Man's Journey Around The World Using Only Bitcoin • What The Fed Minutes Could Say About A September Rate Hike © 2015 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. \|\| Pot-Friendly Candidates Emerge In 2016 Election: Marijuana will play an unprecedented role in the 2016 Presidential race as the drug has never before been regarded by the public in such a favorable light. In previous elections, marijuana was used as a weapon and candidate after candidate denied using, or liking the drug at all. However, this year pot is expected to come up several times on the campaign train, but as an issue rather than a shameful allegation. A Big Issue? It remains to be seen just how important a candidate's stance on marijuana legalization will be when it comes to the election. Most candidates have been vague about their views on the drug, saying that the Obama administration's decision to let states decide for themselves whether or not marijuana should be legalized has provided a good framework to see just how a legal marijuana market will affect the United States. Related Link: How Every Presidential Candidate Wants To Change The Economy Pot Friendly Candidates Ted Cruz and Rand Paul have voiced their support for the marijuana market, saying that it should be each state's right to determine the laws governing marijuana. Paul also became the first candidate to turn to marijuana industry groups for campaign support. Others, like Chris Christie claim they will take a hardline against marijuana and reverse states' decisions to legalize the drug. Unknown Others, like Hillary Clinton, have taken a wishy-washy view— saying that they'd like to see how things go in Colorado and Oregon before making a firm decision or avoiding the issue all together. However, this week, Bernie Sanders appeared to be planning to take a stand on marijuana and many speculate that stand will be pro-legalization. On Tuesday, Sanders spoke out against the war on drugs and promised voters that his campaign would release his marijuana platform in a month. See more from Benzinga Despite Record Profits, Turbulence Ahead For The Airline Industry One Man's Journey Around The World Using Only Bitcoin What The Fed Minutes Could Say About A September Rate Hike © 2015 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. \|\| Google vs Apple: Which will be better in 11 years?: Google went public 11 years ago, and early buyers have done alright for themselves. Class A shares have enjoyed a a split-adjusted gain of nearly 1,300 percent since their first close. "Fast Money" traders believe the company's prospects looks just as promising in the 11 years to come. They contended that Google(GOOGL)holds more upside than technology giant Apple(AAPL), currently the largest company in the world by market capitalization. "I'd rather go with Google, which has multiple revenue streams and they've also shown to be a much better venture capitalist" through acquisitions, said trader Brian Kelly. Kelly expressed concern about Apple's possible reliance on the iPhone for growth in a "saturated" smartphone market. He noted that Google has branched out through acquisitions like YouTube and internal investments. Trader Karen Finerman-who owns Google personally and Apple through her firm Metropolitan Capital Advisors-also touted the variety of businesses at Google and its "moon shot" projects. The company later this year will set up a new operating structure under a holding company Alphabet, which will house its newer projects like Internet service, health services and self-driving cars. Read MoreGoogle's Alphabet move was brilliant Google looks more appealing as it seems "very hard to be replicated," added trader Guy Adami. Trader Tim Seymour-who owns both stocks-also prefers Google, saying it holds a place as "one of the most important companies in the world." Disclosures: Tim Seymour Tim Seymour is long AAPL, T, BAC, DIS, F, GE, GM, GOOGL, INTC, JPM, Tim's firm is long BABA, BIDU, MCD, NKE, NOK, SBUX, YHOO. Brian Kelly Brian Kelly is long BBRY, BTC=; ITB, TAN, TSL, the VIX, TWTR call spread, Euro; he is short AUDJPY, GBPJPY, Yuan. Today he bought Euro. Today he sold US dollar. Today he closed his short position in Yen. Karen Finerman Karen is long BABA, BAC, C, FINL, FL, GOOG, GOOGL, JPM, KORS, M, BABA puts, she is short SPY, Her firm is long ANTM, AAPL, BAC, C, DIS, FBT, FINL, FL, GOOG, GOOGL, GPS, IBB, JPM, KORS, M, SUNE, URI, XBI, KORS call spreads, SUNE call spreads, KORS puts, SUNE puts, her firm is short IWM, SPY, MDY, Karen Finerman is on the board of GrafTech International. Guy Adami Guy Adami is long CELG, EXAS, INTC, Guy Adami's wife, Linda Snow, works at Merck. More From CNBC • Top News and Analysis • Latest News Video • Personal Finance \|\| Google vs Apple: Which will be better in 11 years?: Google went public 11 years ago, and early buyers have done alright for themselves. Class A shares have enjoyed a a split-adjusted gain of nearly 1,300 percent since their first close. "Fast Money" traders believe the company's prospects looks just as promising in the 11 years to come. They contended that Google ( GOOGL ) holds more upside than technology giant Apple ( AAPL ) , currently the largest company in the world by market capitalization. "I'd rather go with Google, which has multiple revenue streams and they've also shown to be a much better venture capitalist" through acquisitions, said trader Brian Kelly. Kelly expressed concern about Apple's possible reliance on the iPhone for growth in a "saturated" smartphone market. He noted that Google has branched out through acquisitions like YouTube and internal investments. Trader Karen Finerman-who owns Google personally and Apple through her firm Metropolitan Capital Advisors-also touted the variety of businesses at Google and its "moon shot" projects. The company later this year will set up a new operating structure under a holding company Alphabet, which will house its newer projects like Internet service, health services and self-driving cars. Read More Google's Alphabet move was brilliant Google looks more appealing as it seems "very hard to be replicated," added trader Guy Adami. Trader Tim Seymour-who owns both stocks-also prefers Google, saying it holds a place as "one of the most important companies in the world." Disclosures: Tim Seymour Tim Seymour is long AAPL, T, BAC, DIS, F, GE, GM, GOOGL, INTC, JPM, Tim's firm is long BABA, BIDU, MCD, NKE, NOK, SBUX, YHOO. Brian Kelly Brian Kelly is long BBRY, BTC=; ITB, TAN, TSL, the VIX, TWTR call spread, Euro; he is short AUDJPY, GBPJPY, Yuan. Today he bought Euro. Today he sold US dollar. Today he closed his short position in Yen. Karen Finerman Karen is long BABA, BAC, C, FINL, FL, GOOG, GOOGL, JPM, KORS, M, BABA puts, she is short SPY, Her firm is long ANTM, AAPL, BAC, C, DIS, FBT, FINL, FL, GOOG, GOOGL, GPS, IBB, JPM, KORS, M, SUNE, URI, XBI, KORS call spreads, SUNE call spreads, KORS puts, SUNE puts, her firm is short IWM, SPY, MDY, Karen Finerman is on the board of GrafTech International. Guy Adami Guy Adami is long CELG, EXAS, INTC, Guy Adami's wife, Linda Snow, works at Merck. More From CNBC Top News and Analysis Latest News Video Personal Finance View comments \|\| Greece could soon get 1,000 bitcoin ATMs: Bitcoin(: BTC=)ATMs could spring up across Greece as soon as October as citizens and businesses become increasingly desperate to move their money despite capital controls. BTCGreece, which bills itself as the country's first bitcoin exchange, plans to eventually install 1,000 ATMs nationwide, in partnership with European bitcoin platform, Cubits. Thanos Marinos, the founder of BTCGreece, told CNBC on Wednesday that a soft launch was on the cards for October. "It is part of my vision to create a block chain ecosystem in Greece," he told CNBC. "If all goes as expected with no major issues we will launch first ATMs October 2015." Bitcoin is adecentralized digital currency that can be used around the world. Transactions are listed in a shared public ledger called the block chain. The digital currency has been touted as one way to to circumvent Greek capital controls. These have been in place since June and limit domestic investors to withdrawing no more than 60 euros ($66) per day from Greek banks, making life extremely tough for companies that need to pay or receive bills. Greek individuals and businesses are also forbidden from moving money to bank accounts abroad. The ATMs envisaged by Marinos could allow users to convert fiat currency into bitcoin and potentially vice versa. As yet, BTCGreece has no ATMs in Greece. However, Marinos said he had already received requests from 300 shops for bitcoin ATMs. "We want to do it cautiously," he told CNBC, adding that BTCGreece would announce more partnerships next week. Bitcoin rallied in Juneamid reports that Greeks were flocking to the currency in order to circumvent the controls. However, the currency's decentralized nature makes it challenging to say how many Greeks currently use it. Bitcoin ATMs have already been installed in other countries, predominately in the U.S. and Western European countries like the U.K., the Netherlands and Spain. "There has been a focus on bitcoin and Greece and the economic instability there," Akif Khan, chief commercial officer at digital commerce company, Bitnet, told CNBC on Wednesday. "So in one sense it will be an interesting experiment to see if Greeks do gravitate towards bitcoin as one of the tools in their financial toolkit to try and cope." Read MoreTrack Bitcoin versus the euro(Unknown: BTCEUR=) Belfast-based Khan added that Greece's regulatory environment was conducive to introducing ATMs. "In principle, putting bitcoin ATMs into Greece is just as feasible as in any other European country... Greece does not have a prohibitive regulatory environment in this regard," he told CNBC. -By CNBC'sKaty Barnato. Follow her@KatyBarnato. More From CNBC • Top News and Analysis • Latest News Video • Personal Finance \|\| Greece could soon get 1,000 bitcoin ATMs: Bitcoin (: BTC=) ATMs could spring up across Greece as soon as October as citizens and businesses become increasingly desperate to move their money despite capital controls. BTCGreece, which bills itself as the country's first bitcoin exchange, plans to eventually install 1,000 ATMs nationwide, in partnership with European bitcoin platform, Cubits. Thanos Marinos, the founder of BTCGreece, told CNBC on Wednesday that a soft launch was on the cards for October. "It is part of my vision to create a block chain ecosystem in Greece," he told CNBC. "If all goes as expected with no major issues we will launch first ATMs October 2015." Bitcoin is a decentralized digital currency that can be used around the world . Transactions are listed in a shared public ledger called the block chain. The digital currency has been touted as one way to to circumvent Greek capital controls. These have been in place since June and limit domestic investors to withdrawing no more than 60 euros ($66) per day from Greek banks, making life extremely tough for companies that need to pay or receive bills. Greek individuals and businesses are also forbidden from moving money to bank accounts abroad. The ATMs envisaged by Marinos could allow users to convert fiat currency into bitcoin and potentially vice versa. As yet, BTCGreece has no ATMs in Greece. However, Marinos said he had already received requests from 300 shops for bitcoin ATMs. "We want to do it cautiously," he told CNBC, adding that BTCGreece would announce more partnerships next week. Bitcoin rallied in June amid reports that Greeks were flocking to the currency in order to circumvent the controls. However, the currency's decentralized nature makes it challenging to say how many Greeks currently use it. Bitcoin ATMs have already been installed in other countries, predominately in the U.S. and Western European countries like the U.K., the Netherlands and Spain. "There has been a focus on bitcoin and Greece and the economic instability there," Akif Khan, chief commercial officer at digital commerce company, Bitnet, told CNBC on Wednesday. Story continues "So in one sense it will be an interesting experiment to see if Greeks do gravitate towards bitcoin as one of the tools in their financial toolkit to try and cope." Read More Track Bitcoin versus the euro (Unknown: BTCEUR=) Belfast-based Khan added that Greece's regulatory environment was conducive to introducing ATMs. "In principle, putting bitcoin ATMs into Greece is just as feasible as in any other European country... Greece does not have a prohibitive regulatory environment in this regard," he told CNBC. -By CNBC's Katy Barnato . Follow her @KatyBarnato . More From CNBC Top News and Analysis Latest News Video Personal Finance \|\| Will The New York Times Piece Damage Amazon?: On August 15, the New York Times published an article slamming e-commerce giant Amazon.com, Inc. (NASDAQ: AMZN ) for its unforgiving corporate culture. The piece describes in with anecdotal stories how employees are pushed to their limits in an environment that thrives on tension and inspires fear. The piece gained traction on social media and many customers said it was enough to stop them from using the service in the future. However, shares of Amazon are up 72.46 percent year-to-date, leading many to wonder just how much damage the article will do. Bezos Strikes Back Following the release of the article, Amazon CEO Jeff Bezos sent out a staff memo in which he asked employees to contact him directly if they'd received the kind of treatment the New York Times had described. He maintained that Amazon's culture is very different from what was depicted and said he was shocked by the stories told. Other current Amazon employees took to the Internet in defense of Amazon, saying that the descriptions were inaccurate and that the company has been misrepresented. Related Link: Amazon's Quarter Was A 'Full-On Crusher' Solid Performance While the article may have temporarily tarnished Amazon's glow, the company's solid Q2 performance is likely to overshadow complaints about management from an investors' perspective. In July, the company released strong Q2 sales and impressive financials which suggest that Amazon is on an upward trajectory. From a money-making point of view, the article has done little hurt the retail giant's appeal. Public Perception In the social media age, public perception is a huge part of a company's success. SeaWorld Entertainment Inc . (NYSE: SEAS ) lost a huge volume of customers after being slammed in the media for its treatment of orcas and Amazon similarly runs the risk of being known as a cruel company that treats its workers poorly, something that could deter shoppers from using the site. However, so far the fallout from the article appears to be minimal, with most expecting more outrageous comments from the 2016 Presidential hopefuls to redirect the public's attention in the coming days. Story continues See more from Benzinga What's Happening To Media Stocks? Bitcoin Rewards Gain Popularity Bitcoin, Marijuana And Drones: Meet Trees © 2015 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. \|\| Will The New York Times Piece Damage Amazon?: On August 15, the New York Times published anarticleslamming e-commerce giantAmazon.com, Inc.(NASDAQ:AMZN) for its unforgiving corporate culture. The piece describes in with anecdotal stories how employees are pushed to their limits in an environment that thrives on tension and inspires fear. The piece gained traction on social media and many customers said it was enough to stop them from using the service in the future. However, shares of Amazon are up 72.46 percent year-to-date, leading many to wonder just how much damage the article will do. Bezos Strikes Back Following the release of the article, Amazon CEO Jeff Bezos sent outa staff memoin which he asked employees to contact him directly if they'd received the kind of treatment the New York Times had described. He maintained that Amazon's culture is very different from what was depicted and said he was shocked by the stories told. Other current Amazon employees took to the Internet in defense of Amazon, saying that the descriptions were inaccurate and that the company has been misrepresented. Related Link:Amazon's Quarter Was A 'Full-On Crusher' Solid Performance While the article may have temporarily tarnished Amazon's glow, the company's solid Q2 performance is likely to overshadow complaints about management from an investors' perspective. In July, the company released strong Q2 sales and impressive financials which suggest that Amazon is on an upward trajectory. From a money-making point of view, the article has done little hurt the retail giant's appeal. Public Perception In the social media age, public perception is a huge part of a company's success.SeaWorld Entertainment Inc. (NYSE:SEAS) lost a huge volume of customers after being slammed in the media for its treatment of orcas and Amazon similarly runs the risk of being known as a cruel company that treats its workers poorly, something that could deter shoppers from using the site. However, so far the fallout from the article appears to be minimal, with most expecting more outrageous comments from the 2016 Presidential hopefuls to redirect the public's attention in the coming days. See more from Benzinga • What's Happening To Media Stocks? • Bitcoin Rewards Gain Popularity • Bitcoin, Marijuana And Drones: Meet Trees © 2015 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. \|\| Bitcoin Reaches A Fork In The Road: Since its arrival on the fintech scene, bitcoin has always been an open source, decentralized cryptocurrency. That means that no individual can update the system without a consensus among bitcoin users. However, a fiercedebatewithin the community has threatened to pull bitcoin users in two separate directions. The Problem The bitcoin community has been locked in a heated debate over whether or not developers should increase block sizes to greater than 1MB. A block records recent bitcoin transactions, and increasing its size would help to accommodate the cryptocurrency's growing demand. However, critics say that making blocks larger could prevent ordinary users from hosting and would lead to more centralization. Related Link:Bitcoin's Image As A Tool For Criminals May Not Be Far-Fetched A Choice To Make Now, developers Gavin Andresen and Mike Hearn have released a new version of software called Bitcoin XT which supports increased block sizes. The move has forced users to choose between Bitcoin Core, which keeps blocks under 1MB, or Bitcoin XT which allows their expansion when necessary. Core Or XT? While the two are compatible at the moment, Bitcoin XT is planning to update its system to incorporate larger block sizes if 75 percent of the cryptocurrency's users adopt it. Many worry that even if XT gains the majority needed for an update, the 25 percent of Core users will continue with that system. Such a decision would effectively tear the currency in two and could have the potential to significantly decrease adoption of the cryptocurrencies as a whole. See more from Benzinga • Automation Serves Up Massive Travel Delays For The Second Time This Summer • Disney Looks To A Galaxy Far, Far Away To Revamp Its Theme Parks • Bitcoin's Image As A Tool For Criminals May Not Be Far-Fetched © 2015 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. \|\| Bitcoin Reaches A Fork In The Road: Since its arrival on the fintech scene, bitcoin has always been an open source, decentralized cryptocurrency. That means that no individual can update the system without a consensus among bitcoin users. However, a fierce debate within the community has threatened to pull bitcoin users in two separate directions. The Problem The bitcoin community has been locked in a heated debate over whether or not developers should increase block sizes to greater than 1MB. A block records recent bitcoin transactions, and increasing its size would help to accommodate the cryptocurrency's growing demand. However, critics say that making blocks larger could prevent ordinary users from hosting and would lead to more centralization. Related Link: Bitcoin's Image As A Tool For Criminals May Not Be Far-Fetched A Choice To Make Now, developers Gavin Andresen and Mike Hearn have released a new version of software called Bitcoin XT which supports increased block sizes. The move has forced users to choose between Bitcoin Core, which keeps blocks under 1MB, or Bitcoin XT which allows their expansion when necessary. Core Or XT? While the two are compatible at the moment, Bitcoin XT is planning to update its system to incorporate larger block sizes if 75 percent of the cryptocurrency's users adopt it. Many worry that even if XT gains the majority needed for an update, the 25 percent of Core users will continue with that system. Such a decision would effectively tear the currency in two and could have the potential to significantly decrease adoption of the cryptocurrencies as a whole. See more from Benzinga Automation Serves Up Massive Travel Delays For The Second Time This Summer Disney Looks To A Galaxy Far, Far Away To Revamp Its Theme Parks Bitcoin's Image As A Tool For Criminals May Not Be Far-Fetched © 2015 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. \|\| Bitcoin Reaches A Fork In The Road: Since its arrival on the fintech scene, bitcoin has always been an open source, decentralized cryptocurrency. That means that no individual can update the system without a consensus among bitcoin users. However, a fiercedebatewithin the community has threatened to pull bitcoin users in two separate directions. The Problem The bitcoin community has been locked in a heated debate over whether or not developers should increase block sizes to greater than 1MB. A block records recent bitcoin transactions, and increasing its size would help to accommodate the cryptocurrency's growing demand. However, critics say that making blocks larger could prevent ordinary users from hosting and would lead to more centralization. Related Link:Bitcoin's Image As A Tool For Criminals May Not Be Far-Fetched A Choice To Make Now, developers Gavin Andresen and Mike Hearn have released a new version of software called Bitcoin XT which supports increased block sizes. The move has forced users to choose between Bitcoin Core, which keeps blocks under 1MB, or Bitcoin XT which allows their expansion when necessary. Core Or XT? While the two are compatible at the moment, Bitcoin XT is planning to update its system to incorporate larger block sizes if 75 percent of the cryptocurrency's users adopt it. Many worry that even if XT gains the majority needed for an update, the 25 percent of Core users will continue with that system. Such a decision would effectively tear the currency in two and could have the potential to significantly decrease adoption of the cryptocurrencies as a whole. See more from Benzinga • Automation Serves Up Massive Travel Delays For The Second Time This Summer • Disney Looks To A Galaxy Far, Far Away To Revamp Its Theme Parks • Bitcoin's Image As A Tool For Criminals May Not Be Far-Fetched © 2015 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. [Social Media Buzz] Another Bitcoin XT node started for 1.00 months! 57.12 months total provided by http://nodeup.xk.io . n=2 \|\| Why Use Bitcoin? Discover why thousands of people are switching to digital currency http://t.co/XgjafbxSo4 http://t.co/1CnmKIqfZf \|\| Current price: 236.11$ $BTCUSD $btc #bitcoin 2015-08-21 05:00:03 EDT \|\| #Bitcoin last trade @bleutrade $237.80 @btcecom $229.70 @cryptsy $239.00 Set #crypto #price #alerts at http://AlertCo.in \|\| Current price: 148.48£ $BTCGBP $btc #bitcoin 2015-08-21 23:...	230.39, 228.17, 210.49, 221.61, 225.83, 224.77, 231.40, 229.78, 228.76, 230.06
Given the historical Bitcoin prices from the last 90 days, predict the next 10 daily closing prices. The historical prices are: 42816.50, 44555.80, 43798.12, 46365.40, 45585.03, 45593.64, 44428.29, 47793.32, 47096.95, 47047.00, 46004.48, 44695.36, 44801.19, 46717.58, 49339.18, 48905.49, 49321.65, 49546.15, 47706.12, 48960.79, 46942.22, 49058.67, 48902.40, 48829.83, 47054.98, 47166.69, 48847.03, 49327.72, 50025.38, 49944.62, 51753.41, 52633.54, 46811.13, 46091.39, 46391.42, 44883.91, 45201.46, 46063.27, 44963.07, 47092.49, 48176.35, 47783.36, 47267.52, 48278.36, 47260.22, 42843.80, 40693.68, 43574.51, 44895.10, 42839.75, 42716.59, 43208.54, 42235.73, 41034.54, 41564.36, 43790.89, 48116.94, 47711.49, 48199.95, 49112.90, 51514.81, 55361.45, 53805.98, 53967.85, 54968.22, 54771.58, 57484.79, 56041.06, 57401.10, 57321.52, 61593.95, 60892.18, 61553.62, 62026.08, 64261.99, 65992.84, 62210.17, 60692.27, 61393.62, 60930.84, 63039.82, 60363.79, 58482.39, 60622.14, 62227.96, 61888.83, 61318.96, 61004.41, 63226.40, 62970.05.	[Bitcoin Technical Analysis for 2021-11-03] Volume: 36124731509, RSI (14-day): 60.22, 50-day EMA: 55857.79, 200-day EMA: 46750.49 [Wider Market Context] Gold Price: 1763.60, Gold RSI: 44.34 Oil Price: 80.86, Oil RSI: 51.50 [Recent News (last 7 days)] Zillow closes troubled home-flipping business amid a ‘decelerating’ housing market: We just witnessed the hottest stretch in the housing market’s tabulated history: In the 12 months ending Aug. 2021, U.S. home prices climbed a record 19.9% . But industry insiders say that historic run is beginning to lose some steam —something that's already causing pain for Zillow . The issue isn't Zillow's core online real estate listing business. Instead, it's the home-flipping business Zillow started in 2018 that's struggling. Last month, the company went as far as to pause the program, called iBuyer , because of struggles selling the homes for enough to recoup expenses. And, on Tuesday, it said it will scrap the service altogether and cut 2,000 workers. “We’ve determined the unpredictability in forecasting home prices far exceeds what we anticipated,” Zillow CEO Rich Barton said in a statement on Tuesday . The real estate listing site also reported third-quarter earnings in which it said it had lost a massive $339.2 million during the quarter, largely due to the faltering iBuyer program. During the same quarter a year ago, it posted a $39.6 million profit. Wall Street expects the troubles to continue this fall. Look no further than KeyBanc analyst Edward Yruma's research note published this week in which he said two-thirds of the homes owned by Zillow (at least among the 600 he measured) are currently worth less than what the company paid for them. Let's be clear: This announcement doesn't mean the housing market is heading backwards. Prices are still increasing. Instead, it stems from the fact that the strong housing market, industry insiders tell Fortune , has helped to cover-up some of the deeper issues in Zillow's home-flipping business. After all, it's easy to make money when home prices are climbing 19.9% (see the chart below). But future growth is expected to be slower as mortgage rates rise, as is expected. Fannie Mae predicts 7.9% home price growth in 2022 , while CoreLogic expects a meager 1.9% gain . Now that the market is cooling, cracks are showing in Zillow's iBuyer program. Story continues "Home price appreciation is a major part of iBuyer profits ... but as home prices start decelerating in some cities, Zillow’s model does not work so they’ve stopped iBuying to avoid massive losses," says Nik Shah, CEO of Home.LLC, a startup that provides down payment assistance to homebuyers in return for a share of any profits, tells Fortune . Zillow's iBuyer program also got pinched by the combination of the ongoing labor shortage, soaring material prices, and product delays. Even lumber— which burst back in the spring when prices topped 300% above their pre-pandemic levels —are back up over 40% since August . Shah says the issues in Zillow's flipping business only got "exacerbated" by these "staffing shortages and prohibitive repair costs." But don't pin the failed iBuyer program simply on the housing market or the pandemic. This business unit was a major money loser from day one. The company struggled to both forecast home prices, as Zillow's CEO admitted on Tuesday, and turn home-flipping into a scaled business. "Zillow quitting its iBuyer business shouldn't necessarily come as a surprise to those familiar with the flipping industry. Most successful flipping is done by local flippers using intimate knowledge of existing home conditions, renovation costs, and market idiosyncrasies, which is something that is very difficult to obtain purely through an automated home value estimate," Ralph McLaughlin, chief economist at Kukun, a real estate analytics firm, tells Fortune . "In addition, flipping at scale is very difficult, if impossible, to do across many markets because of challenges associated with securing labor, materials, and expertise. But Zillow has surely learned a lot from this experiment, and I wouldn't count them out for making a return to iBuyer in some form in the future." On the year, Zillow's shares are down 37%. That doesn't include the additional 11% drop after hours on Tuesday. Hardly, the return you'd expect for a company at the epicenter of a recording-breaking housing market. More finance coverage from Fortune : $69 billion in Bitcoin at the center of Miami crypto court fight FTX’s crypto loses 5% of its value despite the exchange plastering the World Series with ads Only 11% of companies are hitting their emissions goals 2022 home prices will keep rising at or near double digits , predicts the analyst who called the current housing boom Top D.C. financial regulators release stablecoin report and urge Congress to pass legislation This story was originally featured on Fortune.com \|\| Zillow closes troubled home-flipping business amid a ‘decelerating’ housing market: We just witnessed the hottest stretch in the housing market’s tabulated history: In the 12 months ending Aug. 2021, U.S.home prices climbed a record 19.9%. But industry insiders say thathistoric run is beginning to lose some steam—something that's already causing pain forZillow. The issue isn't Zillow's core online real estate listing business. Instead, it's the home-flipping business Zillow started in 2018 that's struggling. Last month, the company went as far as to pausethe program, called iBuyer, because of struggles selling the homes for enough to recoup expenses. And, on Tuesday, it said it will scrap the service altogether and cut 2,000 workers. “We’ve determined the unpredictability in forecasting home prices far exceeds what we anticipated,” Zillow CEO Rich Bartonsaid in a statement on Tuesday. The real estate listing site also reported third-quarter earnings in which it said it had lost a massive $339.2 million during the quarter, largely due to the faltering iBuyer program. During the same quarter a year ago, it posted a $39.6 million profit. Wall Street expects the troubles to continue this fall. Look no further thanKeyBanc analyst Edward Yruma's research note published this weekin which he said two-thirds of the homes owned by Zillow (at least among the 600 he measured) are currently worth less than what the company paid for them. Let's be clear: This announcement doesn't mean the housing market is heading backwards. Prices are still increasing. Instead, it stems from the fact that the strong housing market, industry insiders tellFortune, has helped to cover-up some of the deeper issues in Zillow's home-flipping business. After all, it's easy to make money when home prices are climbing 19.9% (see the chart below). Butfuture growth is expected to be sloweras mortgage rates rise, as is expected.Fannie Mae predicts 7.9% home price growth in 2022, whileCoreLogicexpects a meager1.9% gain. Now that the market is cooling, cracks are showing in Zillow's iBuyer program. "Home price appreciation is a major part of iBuyer profits ... but as home prices start decelerating in some cities, Zillow’s model does not work so they’ve stopped iBuying to avoid massive losses," says Nik Shah, CEO of Home.LLC, a startup that provides down payment assistance to homebuyers in return for a share of any profits, tellsFortune. Zillow's iBuyer program also got pinched by the combination of the ongoing labor shortage, soaring material prices, and product delays. Even lumber—which burstback in the spring whenprices topped 300% above their pre-pandemic levels—areback up over 40% since August. Shah says the issues in Zillow's flipping business only got "exacerbated" by these "staffing shortages and prohibitive repair costs." But don't pin the failed iBuyer program simply on the housing market or the pandemic. This business unit was a major money loser from day one. The company struggled to both forecast home prices, as Zillow's CEO admitted on Tuesday, and turn home-flipping into a scaled business. "Zillow quitting its iBuyer business shouldn't necessarily come as a surprise to those familiar with the flipping industry. Most successful flipping is done by local flippers using intimate knowledge of existing home conditions, renovation costs, and market idiosyncrasies, which is something that is very difficult to obtain purely through an automated home value estimate," Ralph McLaughlin, chief economist at Kukun, a real estate analytics firm, tellsFortune. "In addition, flipping at scale is very difficult, if impossible, to do across many markets because of challenges associated with securing labor, materials, and expertise. But Zillow has surely learned a lot from this experiment, and I wouldn't count them out for making a return to iBuyer in some form in the future." On the year, Zillow's shares are down 37%. That doesn't include the additional 11% drop after hours on Tuesday. Hardly, the return you'd expect for a company at the epicenter of a recording-breaking housing market. • $69 billion in Bitcoinat the center of Miami crypto court fight • FTX’s crypto loses 5% of its valuedespite the exchange plastering the World Series with ads • Only11% of companiesare hitting their emissions goals • 2022 home prices will keep rising at or near double digits, predicts the analyst who called the current housing boom • Top D.C. financial regulatorsrelease stablecoin report and urge Congress to pass legislation This story was originally featured onFortune.com \|\| Australia's CBA offers crypto trading, breaks ranks with industry: By Paulina Duran SYDNEY (Reuters) - Commonwealth Bank of Australia will become the country's first main-street bank to offer a platform for retail customers to trade cryptocurrencies, breaking industry ranks as it looks to match offerings from rival fintech firms. Australia's biggest lender said it will partner with New York-based exchange Gemini Trust Company LLC to offer a "crypto exchange and custody service" through a new feature in its mobile banking app that is used by about 6.4 million customers. "We believe we can play an important role in crypto to address what's clearly a growing customer need," Commonwealth Bank Chief Executive Matt Comyn said in a statement. Cryptocurrency executives and supporters said the move would help validate the $2.6 trillion crypto trading industry. "Nothing that I know, particularly from a bank of this size, enables retail clients to directly buy crypto through their platform, to the best of my knowledge. So it's really exciting," said Caroline Bowler, chief executive of BTC Markets, one of the largest crypto exchanges in Australia. Soaring popularity of cryptocurrencies has posed a problem for mainstream banks as they try to balance clients' interest in digital coins with regulatory concerns about their risks. Some large banks in the U.S. and Europe offer cryptocurrency trading services to institutional clients. Others, like Saxo Bank, offer access to crypto through ETFs or other crypto-linked products. Singapore's DBS Group offers a platform for cryptocurrency trading to wealthy clients. CBA's move puts it at odds with its "Big Four" peers that together dominate the banking sector: National Australia Bank (NAB), Westpac Banking Corp and Australia and New Zealand Banking Group Ltd. In September the group faced criticism at a parliamentary hearing for refusing to do business with cryptocurrency providers. At the time, Comyn said CBA was studying the space but had previously cancelled some business accounts of customers who were doing business with cryptocurrencies. "I am pleased the tide is turning as digital assets are mainstreamed," Liberal party Senator Andrew Bragg, who led an inquiry into the sector, said in a statement. "For too long, banks have cast aside cryptocurrency as an illegitimate fringe pursuit." CBA said its move had been driven by growing client demand and comes as local crypto services are being offered by fintechs such as Square, PayPal Holdings and British-based Revolut. The bank also lead the Australian industry's entry into the fast-growing Buy Now Pay Later sector earlier this year in an attempt to fend-off competition from Afterpay Ltd. Story continues "This is really clever from CBA," Jefferies banking analyst Brian Johnson said. "They've got a lot of youth customers and holding on to them and getting more people engaged with their apps with multiple functions, that makes them really sticky and can create long-term value." Starting with a pilot this year, the bank said it would offer the ability to buy, sell and hold 10 cryptocurrencies including Bitcoin, Ethereum and Litecoin. More features would be rolled out in 2022 and it would explore options including offering crypto payments for goods and services, it said. It would work with U.S. blockchain data platform Chainalysis to help its compliance team monitor and mitigate the threat of cyber crimes. (Reporting by Paulina Duran in Sydney; Editing by Karishma Singh, Stephen Coates and Richard Pullin) View comments \|\| Australia's CBA offers crypto trading, breaks ranks with industry: By Paulina Duran SYDNEY (Reuters) - Commonwealth Bank of Australia will become the country's first main-street bank to offer a platform for retail customers to trade cryptocurrencies, breaking industry ranks as it looks to match offerings from rival fintech firms. Australia's biggest lender said it will partner with New York-based exchange Gemini Trust Company LLC to offer a "crypto exchange and custody service" through a new feature in its mobile banking app that is used by about 6.4 million customers. "We believe we can play an important role in crypto to address what's clearly a growing customer need," Commonwealth Bank Chief Executive Matt Comyn said in a statement. Cryptocurrency executives and supporters said the move would help validate the $2.6 trillion crypto trading industry. "Nothing that I know, particularly from a bank of this size, enables retail clients to directly buy crypto through their platform, to the best of my knowledge. So it's really exciting," said Caroline Bowler, chief executive of BTC Markets, one of the largest crypto exchanges in Australia. Soaring popularity of cryptocurrencies has posed a problem for mainstream banks as they try to balance clients' interest in digital coins with regulatory concerns about their risks. Some large banks in the U.S. and Europe offer cryptocurrency trading services to institutional clients. Others, like Saxo Bank, offer access to crypto through ETFs or other crypto-linked products. Singapore's DBS Group offers a platform for cryptocurrency trading to wealthy clients. CBA's move puts it at odds with its "Big Four" peers that together dominate the banking sector: National Australia Bank (NAB), Westpac Banking Corp and Australia and New Zealand Banking Group Ltd. In September the group faced criticism at a parliamentary hearing for refusing to do business with cryptocurrency providers. At the time, Comyn said CBA was studying the space but had previously cancelled some business accounts of customers who were doing business with cryptocurrencies. "I am pleased the tide is turning as digital assets are mainstreamed," Liberal party Senator Andrew Bragg, who led an inquiry into the sector, said in a statement. "For too long, banks have cast aside cryptocurrency as an illegitimate fringe pursuit." CBA said its move had been driven by growing client demand and comes as local crypto services are being offered by fintechs such as Square, PayPal Holdings and British-based Revolut. The bank also lead the Australian industry's entry into the fast-growing Buy Now Pay Later sector earlier this year in an attempt to fend-off competition from Afterpay Ltd. Story continues "This is really clever from CBA," Jefferies banking analyst Brian Johnson said. "They've got a lot of youth customers and holding on to them and getting more people engaged with their apps with multiple functions, that makes them really sticky and can create long-term value." Starting with a pilot this year, the bank said it would offer the ability to buy, sell and hold 10 cryptocurrencies including Bitcoin, Ethereum and Litecoin. More features would be rolled out in 2022 and it would explore options including offering crypto payments for goods and services, it said. It would work with U.S. blockchain data platform Chainalysis to help its compliance team monitor and mitigate the threat of cyber crimes. (Reporting by Paulina Duran in Sydney; Editing by Karishma Singh, Stephen Coates and Richard Pullin) View comments \|\| Australia's CBA offers crypto trading, breaks ranks with industry: By Paulina Duran SYDNEY (Reuters) - Commonwealth Bank of Australia will become the country's first main-street bank to offer a platform for retail customers to trade cryptocurrencies, breaking industry ranks as it looks to match offerings from rival fintech firms. Australia's biggest lender said it will partner with New York-based exchange Gemini Trust Company LLC to offer a "crypto exchange and custody service" through a new feature in its mobile banking app that is used by about 6.4 million customers. "We believe we can play an important role in crypto to address what's clearly a growing customer need," Commonwealth Bank Chief Executive Matt Comyn said in a statement. Cryptocurrency executives and supporters said the move would help validate the $2.6 trillion crypto trading industry. "Nothing that I know, particularly from a bank of this size, enables retail clients to directly buy crypto through their platform, to the best of my knowledge. So it's really exciting," said Caroline Bowler, chief executive of BTC Markets, one of the largest crypto exchanges in Australia. Soaring popularity of cryptocurrencies has posed a problem for mainstream banks as they try to balance clients' interest in digital coins with regulatory concerns about their risks. Some large banks in the U.S. and Europe offer cryptocurrency trading services to institutional clients. Others, like Saxo Bank, offer access to crypto through ETFs or other crypto-linked products. Singapore's DBS Group offers a platform for cryptocurrency trading to wealthy clients. CBA's move puts it at odds with its "Big Four" peers that together dominate the banking sector: National Australia Bank (NAB), Westpac Banking Corp and Australia and New Zealand Banking Group Ltd. In September the group faced criticism at a parliamentary hearing for refusing to do business with cryptocurrency providers. At the time, Comyn said CBA was studying the space but had previously cancelled some business accounts of customers who were doing business with cryptocurrencies. "I am pleased the tide is turning as digital assets are mainstreamed," Liberal party Senator Andrew Bragg, who led an inquiry into the sector, said in a statement. "For too long, banks have cast aside cryptocurrency as an illegitimate fringe pursuit." CBA said its move had been driven by growing client demand and comes as local crypto services are being offered by fintechs such as Square, PayPal Holdings and British-based Revolut. The bank also lead the Australian industry's entry into the fast-growing Buy Now Pay Later sector earlier this year in an attempt to fend-off competition from Afterpay Ltd. "This is really clever from CBA," Jefferies banking analyst Brian Johnson said. "They've got a lot of youth customers and holding on to them and getting more people engaged with their apps with multiple functions, that makes them really sticky and can create long-term value." Starting with a pilot this year, the bank said it would offer the ability to buy, sell and hold 10 cryptocurrencies including Bitcoin, Ethereum and Litecoin. More features would be rolled out in 2022 and it would explore options including offering crypto payments for goods and services, it said. It would work with U.S. blockchain data platform Chainalysis to help its compliance team monitor and mitigate the threat of cyber crimes. (Reporting by Paulina Duran in Sydney; Editing by Karishma Singh, Stephen Coates and Richard Pullin) \|\| Australia's CBA offers crypto trading, breaks ranks with industry: By Paulina Duran SYDNEY (Reuters) - Commonwealth Bank of Australia will become the country's first main-street bank to offer a platform for retail customers to trade cryptocurrencies, breaking industry ranks as it looks to match offerings from rival fintech firms. Australia's biggest lender said it will partner with New York-based exchange Gemini Trust Company LLC to offer a "crypto exchange and custody service" through a new feature in its mobile banking app that is used by about 6.4 million customers. "We believe we can play an important role in crypto to address what's clearly a growing customer need," Commonwealth Bank Chief Executive Matt Comyn said in a statement. Cryptocurrency executives and supporters said the move would help validate the $2.6 trillion crypto trading industry. "Nothing that I know, particularly from a bank of this size, enables retail clients to directly buy crypto through their platform, to the best of my knowledge. So it's really exciting," said Caroline Bowler, chief executive of BTC Markets, one of the largest crypto exchanges in Australia. Soaring popularity of cryptocurrencies has posed a problem for mainstream banks as they try to balance clients' interest in digital coins with regulatory concerns about their risks. Some large banks in the U.S. and Europe offer cryptocurrency trading services to institutional clients. Others, like Saxo Bank, offer access to crypto through ETFs or other crypto-linked products. Singapore's DBS Group offers a platform for cryptocurrency trading to wealthy clients. CBA's move puts it at odds with its "Big Four" peers that together dominate the banking sector: National Australia Bank (NAB), Westpac Banking Corp and Australia and New Zealand Banking Group Ltd. In September the group faced criticism at a parliamentary hearing for refusing to do business with cryptocurrency providers. At the time, Comyn said CBA was studying the space but had previously cancelled some business accounts of customers who were doing business with cryptocurrencies. "I am pleased the tide is turning as digital assets are mainstreamed," Liberal party Senator Andrew Bragg, who led an inquiry into the sector, said in a statement. "For too long, banks have cast aside cryptocurrency as an illegitimate fringe pursuit." CBA said its move had been driven by growing client demand and comes as local crypto services are being offered by fintechs such as Square, PayPal Holdings and British-based Revolut. The bank also lead the Australian industry's entry into the fast-growing Buy Now Pay Later sector earlier this year in an attempt to fend-off competition from Afterpay Ltd. Story continues "This is really clever from CBA," Jefferies banking analyst Brian Johnson said. "They've got a lot of youth customers and holding on to them and getting more people engaged with their apps with multiple functions, that makes them really sticky and can create long-term value." Starting with a pilot this year, the bank said it would offer the ability to buy, sell and hold 10 cryptocurrencies including Bitcoin, Ethereum and Litecoin. More features would be rolled out in 2022 and it would explore options including offering crypto payments for goods and services, it said. It would work with U.S. blockchain data platform Chainalysis to help its compliance team monitor and mitigate the threat of cyber crimes. (Reporting by Paulina Duran in Sydney; Editing by Karishma Singh, Stephen Coates and Richard Pullin) View comments \|\| Marathon Digital Holds $457M in Bitcoin After Increase in October Mining: Marathon Digital (NASDAQ: MARA) produced 417.7 bitcoins in October, a 23% increase over the previous month that boosted the value of the company’s total bitcoin holdings to about $457.4 million, the bitcoin minersaidon Tuesday. • Marathon Digital now has about 7,453 bitcoins. Its mining fleet consists of 27,280 active miners producing approximately 2.96 exahashes (EH/s). • “With shipments of our previously purchased miners accelerating over the coming months, we continue to expect our bitcoin production to become more consistent as we scale,” Marathon Digital CEO Fred Thiel said in a statement. • In a press release, Marathon Digital said that it had received 42,381 top-tier ASIC miners from Bitmain this year with another 3,285 ASIC miners currently in transit. • The company has been expanding rapidly. After it receives all its outstanding purchase orders for miners by mid-2022 and deploys the machines, Marathon expects to have approximately 133,000 operational miners generating about 13.3 EH/s. • In October, Marathon Digitalannouncedthat it had secured a $100 million revolving line of credit with Silvergate Bank in bitcoin and U.S. dollars and would use the loan to fund the company’s bitcoin mining operations and to acquire new equipment. Read more:Crypto Miners Are ‘Stockpiling’ Bitcoin Amid Recent Rally, Kraken Says \|\| Marathon Digital Holds $457M in Bitcoin After Increase in October Mining: Marathon Digital (NASDAQ: MARA) produced 417.7 bitcoins in October, a 23% increase over the previous month that boosted the value of the company’s total bitcoin holdings to about $457.4 million, the bitcoin minersaidon Tuesday. • Marathon Digital now has about 7,453 bitcoins. Its mining fleet consists of 27,280 active miners producing approximately 2.96 exahashes (EH/s). • “With shipments of our previously purchased miners accelerating over the coming months, we continue to expect our bitcoin production to become more consistent as we scale,” Marathon Digital CEO Fred Thiel said in a statement. • In a press release, Marathon Digital said that it had received 42,381 top-tier ASIC miners from Bitmain this year with another 3,285 ASIC miners currently in transit. • The company has been expanding rapidly. After it receives all its outstanding purchase orders for miners by mid-2022 and deploys the machines, Marathon expects to have approximately 133,000 operational miners generating about 13.3 EH/s. • In October, Marathon Digitalannouncedthat it had secured a $100 million revolving line of credit with Silvergate Bank in bitcoin and U.S. dollars and would use the loan to fund the company’s bitcoin mining operations and to acquire new equipment. Read more:Crypto Miners Are ‘Stockpiling’ Bitcoin Amid Recent Rally, Kraken Says \|\| Marathon Digital Holds $457M in Bitcoin After Increase in October Mining: Marathon Digital (NASDAQ: MARA) produced 417.7 bitcoins in October, a 23% increase over the previous month that boosted the value of the company’s total bitcoin holdings to about $457.4 million, the bitcoin miner said on Tuesday. Marathon Digital now has about 7,453 bitcoins. Its mining fleet consists of 27,280 active miners producing approximately 2.96 exahashes (EH/s). “With shipments of our previously purchased miners accelerating over the coming months, we continue to expect our bitcoin production to become more consistent as we scale,” Marathon Digital CEO Fred Thiel said in a statement. In a press release, Marathon Digital said that it had received 42,381 top-tier ASIC miners from Bitmain this year with another 3,285 ASIC miners currently in transit. The company has been expanding rapidly. After it receives all its outstanding purchase orders for miners by mid-2022 and deploys the machines, Marathon expects to have approximately 133,000 operational miners generating about 13.3 EH/s. In October, Marathon Digital announced that it had secured a $100 million revolving line of credit with Silvergate Bank in bitcoin and U.S. dollars and would use the loan to fund the company’s bitcoin mining operations and to acquire new equipment. Read more: Crypto Miners Are ‘Stockpiling’ Bitcoin Amid Recent Rally, Kraken Says View comments \|\| Shibosu Token Brings Shiba Rewards For Investors: Houston, Texas, Nov. 02, 2021 (GLOBE NEWSWIRE) -- The Binance Smart Chain (BSC) community token space has just welcomed a brand-new token called Shibosu Token. Shibosu successfully launched on October 30th, 2021. Their mascot is your familiar, friendly Japanese Shiba Inu. The purpose of Shibosu is to spread love to fellow Shiba Inu token projects, while simultaneously running compelling daily giveaways for their community investors to win. The Shibosu token creator has been in the crypto space since 2014, with his first investments being in Bitcoin. The creator’s goal with this Shibosu token is to positively impact the crypto space by collaborating and celebrating other projects and setting a standard of how good projects in this crypto currency space operate. With an overwhelming number of scams that raid the BSC space, Shibosu Token creates a fun, safe place for investors who just love Shiba Inu meme tokens. Tokenomics of Shibosu allow for promotions within their community and gifts money to other Shiba Inu communities. There is a 12% buy tax and an 18% sell tax. Buy taxes are distributed for 3 functions: 2% to Shiba rewards, where SHIB token is bought and distributed as rewards to holders; 5% to buy backs, which buy and burn the native token helping levels of resistance and raising the floor price; and 5% for marketing and promotions. Sell taxes are distributed with 4% going to Shiba Rewards, 7% to buy back, and 7% to marketing. The tokenomics of Shibosu allow for compelling community giveaways. With a daily BNB lottery, investors can win additional BNB parallel to their investment growing. Also integrated into their tokenomics, 1% of transaction volume is accumulated and given out as a community prize every 3 days. Then there is their claim to fame, the gifting of BNB from the project to help support another Shiba Inu community token in the crypto-currency space. Investors have a lot of opportunity to showcase their love for Shiba Inu meme-community tokens. With a reflection system that pays you in SHIB token, daily BNB giveaways, a deflationary token system increasing token value, and spreading some love to other like-minded communities. The Shibosu creator is going to create a family of dog lovers in all of us. Check out more details and information on their website:https://www.shibosu.live Disclaimer: The information provided on this page does not constitute investment advice, financial advice, trading advice, or any other sort of advice and it should not be treated as such. This content is the opinion of a third party, and this site does not recommend that any specific cryptocurrency should be bought, sold, or held, or that any crypto investment should be made. The Crypto market is high risk, with high-risk and unproven projects. Readers should do their own research and consult a professional financial advisor before making any investment decisions. For the original news story, please visithttps://prdistribution.com/news/shibosu-token-brings-shiba-rewards-for-investors.html CONTACT: Media Company: Shibosu, Media Name: John Thomassen, Media Phone: 832-499-0126, Media Email: [email protected] Media Url: http://shibosu.live/ \|\| Shibosu Token Brings Shiba Rewards For Investors: Houston, Texas, Nov. 02, 2021 (GLOBE NEWSWIRE) -- The Binance Smart Chain (BSC) community token space has just welcomed a brand-new token called Shibosu Token. Shibosu successfully launched on October 30th, 2021. Their mascot is your familiar, friendly Japanese Shiba Inu. The purpose of Shibosu is to spread love to fellow Shiba Inu token projects, while simultaneously running compelling daily giveaways for their community investors to win. The Shibosu token creator has been in the crypto space since 2014, with his first investments being in Bitcoin. The creators goal with this Shibosu token is to positively impact the crypto space by collaborating and celebrating other projects and setting a standard of how good projects in this crypto currency space operate. With an overwhelming number of scams that raid the BSC space, Shibosu Token creates a fun, safe place for investors who just love Shiba Inu meme tokens. Tokenomics of Shibosu allow for promotions within their community and gifts money to other Shiba Inu communities. There is a 12% buy tax and an 18% sell tax. Buy taxes are distributed for 3 functions: 2% to Shiba rewards, where SHIB token is bought and distributed as rewards to holders; 5% to buy backs, which buy and burn the native token helping levels of resistance and raising the floor price; and 5% for marketing and promotions. Sell taxes are distributed with 4% going to Shiba Rewards, 7% to buy back, and 7% to marketing. The tokenomics of Shibosu allow for compelling community giveaways. With a daily BNB lottery, investors can win additional BNB parallel to their investment growing. Also integrated into their tokenomics, 1% of transaction volume is accumulated and given out as a community prize every 3 days. Then there is their claim to fame, the gifting of BNB from the project to help support another Shiba Inu community token in the crypto-currency space. Investors have a lot of opportunity to showcase their love for Shiba Inu meme-community tokens. With a reflection system that pays you in SHIB token, daily BNB giveaways, a deflationary token system increasing token value, and spreading some love to other like-minded communities. The Shibosu creator is going to create a family of dog lovers in all of us. Check out more details and information on their website: https://www.shibosu.live Story continues Disclaimer: The information provided on this page does not constitute investment advice, financial advice, trading advice, or any other sort of advice and it should not be treated as such. This content is the opinion of a third party, and this site does not recommend that any specific cryptocurrency should be bought, sold, or held, or that any crypto investment should be made. The Crypto market is high risk, with high-risk and unproven projects. Readers should do their own research and consult a professional financial advisor before making any investment decisions. For the original news story, please visit https://prdistribution.com/news/shibosu-token-brings-shiba-rewards-for-investors.html CONTACT: Media Company: Shibosu, Media Name: John Thomassen, Media Phone: 832-499-0126, Media Email: [email protected] Media Url: http://shibosu.live/ \|\| GLOBAL MARKETS-Global equities rally to reach new record, dollar rises ahead of big Fed meeting: (Recasts with latest market activity, adds analyst comment, adds WASHINGTON to dateline) * Asian shares hit by China worries * MSCI all-country index hits record, European close higher * RBA drops yield target; focus on Fed meeting By Katanga Johnson and Herbert Lash WASHINGTON/NEW YORK, Nov 2 (Reuters) - World shares reached new records on Tuesday, lifted by rising U.S. and European stocks, while the latest batch of earnings reports bolstered the dollar as investors await the Federal Reserve's plans to taper its massive stimulus. All three major U.S. stock indexes hit intraday record highs during the session. The STOXX 600 in Europe also posted a record close on strong corporate results as France's CAC 40 index hit its highest level since 2000. The Australian dollar fell after the Reserve Bank of Australia (RBA) sounded a more dovish tone than expected in the first of three much-anticipated central bank meetings this week. The Fed will release a statement at the end of its two-day meeting on Wednesday, when it is expected to announce the start of tapering its bond-buying program. Markets also are pricing an interest rate hike at the Bank of England meeting on Thursday. "Most times, markets are happiest when they get predictability, when they get what they expect, and I think the expectation is that they are going to taper," said Randy Frederick, vice president of trading and derivatives for Charles Schwab in Austin, Texas. MSCI's all-country world index, which tracks equity performance in 50 nations, gained 0.14% to close at a record 749.53. The pan-European STOXX 600 rose 0.14%. On Wall Street, the Dow Jones Industrial Average rose 0.39%, and the S&P 500 gained 0.37%. The Nasdaq Composite advanced 0.34%. Asian equities and bonds were mixed as Chinese property developers worried about contagion from China Evergrande Group's debt crisis. A debt exchange from one of the country's top homebuilders triggered a flurry of credit warnings. Story continues The Reserve Bank of Australia (RBA) on Tuesday sounded a more dovish tone than investors had anticipated, in the first of several central bank meetings this week, sending the Aussie to its biggest one-day loss since Sept. 29. Short-dated Australian government bond yields fell and the Australian dollar slid 1.0% to $0.7448. The U.S. dollar index, which tracks the greenback against a basket of six currencies, rose 0.181% even as the market has fully priced in a Fed taper announcement. The euro fell 0.22% to $1.1581, while the yen strengthened 0.01%. U.S. Treasury yields drifted as the market awaited the Fed's announcement. The market does not believe economic growth is going to be very strong next year, said Joe LaVorgna, chief economist for the Americas at Natixis in New York. "The real interest rate has stayed depressed if not slipped and that's really a function of where growth is. The market just doesn't believe growth is going to be very robust," LaVorgna said. The 10-year U.S. Treasury note was down 2.4 basis points at 1.549%. The chair of the U.S. Securities and Exchange Commission (SEC) said on Tuesday it will consider new oversight rules for some platforms for trading U.S. Treasuries, in a move aimed at boosting transparency and competition. Meanwhile, European government bond yields fell, pausing from a selloff sparked by the European Central Bank last week disappointing expectations of a firm pushback against aggressive market pricing for rate hikes. German 10-year yields slipped 0.8 basis point to -0.168%. Oil traded below $85 a barrel on Tuesday, but remained close to a three-year high in choppy trade ahead of weekly U.S. supply reports expected to show a rise in crude inventories as traders also looked toward Thursday's OPEC+ meeting. Brent was at $84.52, down 0.22% on the day while U.S. crude recently fell 0.63% to $83.52 per barrel. Bitcoin rose 4.3% to $63,544.84. (Reporting by Katanga Johnson in Washington and Herbert Lash in New York Editing by Alex Richardson and Matthew Lewis) \|\| GLOBAL MARKETS-Global equities rally to reach new record, dollar rises ahead of big Fed meeting: (Recasts with latest market activity, adds analyst comment, adds WASHINGTON to dateline) * Asian shares hit by China worries * MSCI all-country index hits record, European close higher * RBA drops yield target; focus on Fed meeting By Katanga Johnson and Herbert Lash WASHINGTON/NEW YORK, Nov 2 (Reuters) - World shares reached new records on Tuesday, lifted by rising U.S. and European stocks, while the latest batch of earnings reports bolstered the dollar as investors await the Federal Reserve's plans to taper its massive stimulus. All three major U.S. stock indexes hit intraday record highs during the session. The STOXX 600 in Europe also posted a record close on strong corporate results as France's CAC 40 index hit its highest level since 2000. The Australian dollar fell after the Reserve Bank of Australia (RBA) sounded a more dovish tone than expected in the first of three much-anticipated central bank meetings this week. The Fed will release a statement at the end of its two-day meeting on Wednesday, when it is expected to announce the start of tapering its bond-buying program. Markets also are pricing an interest rate hike at the Bank of England meeting on Thursday. "Most times, markets are happiest when they get predictability, when they get what they expect, and I think the expectation is that they are going to taper," said Randy Frederick, vice president of trading and derivatives for Charles Schwab in Austin, Texas. MSCI's all-country world index, which tracks equity performance in 50 nations, gained 0.14% to close at a record 749.53. The pan-European STOXX 600 rose 0.14%. On Wall Street, the Dow Jones Industrial Average rose 0.39%, and the S&P 500 gained 0.37%. The Nasdaq Composite advanced 0.34%. Asian equities and bonds were mixed as Chinese property developers worried about contagion from China Evergrande Group's debt crisis. A debt exchange from one of the country's top homebuilders triggered a flurry of credit warnings. The Reserve Bank of Australia (RBA) on Tuesday sounded a more dovish tone than investors had anticipated, in the first of several central bank meetings this week, sending the Aussie to its biggest one-day loss since Sept. 29. Short-dated Australian government bond yields fell and the Australian dollar slid 1.0% to $0.7448. The U.S. dollar index, which tracks the greenback against a basket of six currencies, rose 0.181% even as the market has fully priced in a Fed taper announcement. The euro fell 0.22% to $1.1581, while the yen strengthened 0.01%. U.S. Treasury yields drifted as the market awaited the Fed's announcement. The market does not believe economic growth is going to be very strong next year, said Joe LaVorgna, chief economist for the Americas at Natixis in New York. "The real interest rate has stayed depressed if not slipped and that's really a function of where growth is. The market just doesn't believe growth is going to be very robust," LaVorgna said. The 10-year U.S. Treasury note was down 2.4 basis points at 1.549%. The chair of the U.S. Securities and Exchange Commission (SEC) said on Tuesday it will consider new oversight rules for some platforms for trading U.S. Treasuries, in a move aimed at boosting transparency and competition. Meanwhile, European government bond yields fell, pausing from a selloff sparked by the European Central Bank last week disappointing expectations of a firm pushback against aggressive market pricing for rate hikes. German 10-year yields slipped 0.8 basis point to -0.168%. Oil traded below $85 a barrel on Tuesday, but remained close to a three-year high in choppy trade ahead of weekly U.S. supply reports expected to show a rise in crude inventories as traders also looked toward Thursday's OPEC+ meeting. Brent was at $84.52, down 0.22% on the day while U.S. crude recently fell 0.63% to $83.52 per barrel. Bitcoin rose 4.3% to $63,544.84. (Reporting by Katanga Johnson in Washington and Herbert Lash in New York Editing by Alex Richardson and Matthew Lewis) \|\| IRS Sends 430,000 Refunds for Unemployment Tax Compensation — Who Will Receive Roughly $1,189?: In its most recent press release, the Internal Revenue Service announced itsent approximately 430,000 refundsto those who paid taxes on unemployment compensation that is now excluded for the income tax year 2020 under the stimulus relief bill. See:Experts Walk You Through the Potential Tax Pitfalls of Seasonal Holiday Side GigsExplore:How Much the Average Person Paid in Taxes the Year You Were Born The new provision, which falls under the American Rescue Plan of 2021, was signed into law in March and excludes the first $10,200 in unemployment compensation per taxpayer in 2020. This amount is excluded when calculating one’s adjusted gross income — it is not the amount of the refund, the IRS stressed. The exclusion is available to individuals and married couples whose modified adjusted gross income is less than $150,000. The IRS estimates that the amount of the refunds sent out totals $510 million to taxpayers. The agency states that the effort to correct unemployment compensation overpayments will help most of the affected taxpayers to avoid filing an amended tax return. The IRS has identified over 16 million people who may be eligible for the adjustment. If you are eligible, you will either receive a refund, or have the overpayment applied to taxes due or other debts to the government. Stimulus Update:Investors Who Put Full Amount Into Bitcoin Saw $4.5K Profit The $10,200 exclusion applies only to federal taxes. Most states do not apply their own tax on unemployment benefits, but each state has their own provisions, so it’s crucial to make sure whether or not your state taxes them separately. The exclusion means that the first $10,200 is not subject to federal income tax this year — anything above that amount, however, can still be qualified as taxable income. The IRS said that the latest batch of corrections resulted in refunds averaging about $1,189. The agency also said its review of returns and processing corrections is almost complete. If you are one of the affected taxpayers, you should receive a letter from the IRS within 30 days of the adjustment, informing you of what kind of adjustment was made and the amount to be received/deducted from other debts. Learn:What a $100K Salary Looks Like After Taxes in Your StateFind:Looking for a Seasonal Side Gig? These 16 Places Are Hiring Right Now The IRS is also making corrections for Earned Income Tax Credit, additionalChild Tax Credit, American Opportunity Credit, Premium Tax Credit and Recovery Rebate Credit amounts affected by the exclusion. If you believe you fall under one of these corrections, the IRS states that it is more than likely you do not need to take any further action, and that the agency will take care of the correction automatically. More From GOBankingRates • Find Out Who Made GOBankingRates’ Best Credit Cards Lists and Get Helpful Tips • Give Us Your Thoughts: How Much Will You Spend Over the Holidays Relative to Last Year? • How To Use a Credit Card Like a Pro This Holiday Season • How To Refinance a Mortgage Last updated: November 2, 2021 This article originally appeared onGOBankingRates.com:IRS Sends 430,000 Refunds for Unemployment Tax Compensation — Who Will Receive Roughly $1,189? \|\| IRS Sends 430,000 Refunds for Unemployment Tax Compensation — Who Will Receive Roughly $1,189?: Prostock-Studio / iStock.com In its most recent press release, the Internal Revenue Service announced it sent approximately 430,000 refunds to those who paid taxes on unemployment compensation that is now excluded for the income tax year 2020 under the stimulus relief bill. See: Experts Walk You Through the Potential Tax Pitfalls of Seasonal Holiday Side Gigs Explore: How Much the Average Person Paid in Taxes the Year You Were Born The new provision, which falls under the American Rescue Plan of 2021, was signed into law in March and excludes the first $10,200 in unemployment compensation per taxpayer in 2020. This amount is excluded when calculating one’s adjusted gross income — it is not the amount of the refund, the IRS stressed. The exclusion is available to individuals and married couples whose modified adjusted gross income is less than $150,000. The IRS estimates that the amount of the refunds sent out totals $510 million to taxpayers. The agency states that the effort to correct unemployment compensation overpayments will help most of the affected taxpayers to avoid filing an amended tax return. The IRS has identified over 16 million people who may be eligible for the adjustment. If you are eligible, you will either receive a refund, or have the overpayment applied to taxes due or other debts to the government. Stimulus Update: Investors Who Put Full Amount Into Bitcoin Saw $4.5K Profit The $10,200 exclusion applies only to federal taxes. Most states do not apply their own tax on unemployment benefits, but each state has their own provisions, so it’s crucial to make sure whether or not your state taxes them separately. The exclusion means that the first $10,200 is not subject to federal income tax this year — anything above that amount, however, can still be qualified as taxable income. The IRS said that the latest batch of corrections resulted in refunds averaging about $1,189. The agency also said its review of returns and processing corrections is almost complete. If you are one of the affected taxpayers, you should receive a letter from the IRS within 30 days of the adjustment, informing you of what kind of adjustment was made and the amount to be received/deducted from other debts. Story continues Learn: What a $100K Salary Looks Like After Taxes in Your State Find: Looking for a Seasonal Side Gig? These 16 Places Are Hiring Right Now The IRS is also making corrections for Earned Income Tax Credit, additional Child Tax Credit , American Opportunity Credit, Premium Tax Credit and Recovery Rebate Credit amounts affected by the exclusion. If you believe you fall under one of these corrections, the IRS states that it is more than likely you do not need to take any further action, and that the agency will take care of the correction automatically. More From GOBankingRates Find Out Who Made GOBankingRates’ Best Credit Cards Lists and Get Helpful Tips Give Us Your Thoughts: How Much Will You Spend Over the Holidays Relative to Last Year? How To Use a Credit Card Like a Pro This Holiday Season How To Refinance a Mortgage Last updated: November 2, 2021 This article originally appeared on GOBankingRates.com : IRS Sends 430,000 Refunds for Unemployment Tax Compensation — Who Will Receive Roughly $1,189? \|\| Bitcoin Is Set to Surge Again After Its Taproot Update Is Completed: Bitcoin(CCC:BTC-USD) crypto is set to undergo an upgrade on Nov. 16 called Taproot,according toCryptoslatemagazine. As a result, BTC will likely benefit greatly from this protocol change. Source: kitti Suwanekkasit / Shutterstock.com The main effect ofTaprootwill be to allow Bitcoin to more efficiently process smart contracts and permit more privacy in multi-signature blockchain transactions. Up until now,Ethereum(CCC:ETH-USD) had reigned king in this area. Now Bitcoin can have another use for its holders, beyond its current purpose as just as a store of value. InvestorPlace - Stock Market News, Stock Advice & Trading Tips This will add to Bitcoin’s performance, which has already been impressive so far this year. It traded at $60,785 late on Nov. 1 with a market cap of $1.147 trillion according toCoinMarketCap. AsCryptoslateexplains, Taproot actually involves 3 new Bitcoin Improvement Proposals (BIPs). The first is numbered BIP-340 and allows the use of Schnorr signatures, which enable key aggregations. This is an important way to fix some privacy and space issues. • 7 Best Tech Stocks to Buy for Q4 Earnings Season The second is BIP-341, which introduces Merklized abstract syntax trees (MASTs) to make smart contracts on Bitcoin more secure. MASTs allow for smaller transaction sizes, more privacy and larger smart contracts. David Harding, a Bitcoin expert, explained more details about the MASTs proposal in arecent article. Lastly, BIP-342 will introduce a new scripting language to Bitcoin. Tapscript will make soft forks easier to do so that updates are less reliant on hard forks, or sudden changes. It will also allow Bitcoin to add new opcodes to improve Bitcoin’ssmart contract capabilityand change some limits for resource requirements. With Taproot,Decryptreports, “all parties in a transaction can cooperate to make these complex transactions look like standard, person-to-person transactions.” For hardcore programmers, Bitcoin’s main programming site,Bitcoin Core, provides more specific information on the Taproot upgrades. These changes will effectively make Bitcoin much more competitive with Ethereum. By Nov. 16, all Bitcoin nodes will have upgraded with the Taproot protocols, as more than 90% of all nodes have agreed to these changes. This will give developers of smart contracts, non-fungible tokens (NFTs) and decentralized finance (DeFi) apps much more confidence. They will be able to integrate their dApps (decentralized apps) into the Bitcoin network. Moreover, Ethereum’s high fees have made its smart contract and DeFi apps less popular with new developers. Many are now turning toSolana(CCC:SOL-USD) and other “Ethereum killers.” Now, however, Bitcoin can join in the competitive smart contract race. This could lead to a mushrooming number of dApps using Bitcoin in smart contracts and related applications. According toDecrypt, this upgrade will also lower transaction costs at Bitcoin, making it more competitive with Ethereum. No longer just a store of value, Bitcoin can now be a useful transaction currency. As a result, BTC could potentially have a second upward push through the end of the year. This will happen once investors realize the extent of the Taproot upgrades. So far this year, Bitcoin is up 106.9%. It ended last year at $29,374 per BTC crypto token, and reached $60,785 as of Nov. 1. Therefore, even if BTC moves up 20%, or $12,157, from here to $72,942, that would bring its year-to-date performance to a gain of 148.3%. In other words, a 20% gain will lead to a 41.4% percentage point improvement in performance compared to the beginning of the year. Now might not be a bad time to invest in Bitcoin, despite its meteoric rise so far this year. Taproot is likely to lead to another round of appreciation by the general market for this large cryptocurrency. On the date of publication, Mark R. Hake held a long position in Ethereum but did not own any other security mentioned in this article either directly or indirectly.The opinions expressed in this article are those of the writer, subject to the InvestorPlace.comPublishing Guidelines. Mark Hake writes about personal finance onmrhake.medium.comand runs theTotal Yield Value Guidewhich you can reviewhere. • Stock Prodigy Who Found NIO at $2… Says Buy THIS Now • Analyst Who Found Microsoft at $0.38 Names #1 Pick for the AI Boom • America’s #1 EV Stock Still Flying Under the Radar The postBitcoin Is Set to Surge Again After Its Taproot Update Is Completedappeared first onInvestorPlace. \|\| Bitcoin Is Set to Surge Again After Its Taproot Update Is Completed: Bitcoin(CCC:BTC-USD) crypto is set to undergo an upgrade on Nov. 16 called Taproot,according toCryptoslatemagazine. As a result, BTC will likely benefit greatly from this protocol change. Source: kitti Suwanekkasit / Shutterstock.com The main effect ofTaprootwill be to allow Bitcoin to more efficiently process smart contracts and permit more privacy in multi-signature blockchain transactions. Up until now,Ethereum(CCC:ETH-USD) had reigned king in this area. Now Bitcoin can have another use for its holders, beyond its current purpose as just as a store of value. InvestorPlace - Stock Market News, Stock Advice & Trading Tips This will add to Bitcoin’s performance, which has already been impressive so far this year. It traded at $60,785 late on Nov. 1 with a market cap of $1.147 trillion according toCoinMarketCap. AsCryptoslateexplains, Taproot actually involves 3 new Bitcoin Improvement Proposals (BIPs). The first is numbered BIP-340 and allows the use of Schnorr signatures, which enable key aggregations. This is an important way to fix some privacy and space issues. • 7 Best Tech Stocks to Buy for Q4 Earnings Season The second is BIP-341, which introduces Merklized abstract syntax trees (MASTs) to make smart contracts on Bitcoin more secure. MASTs allow for smaller transaction sizes, more privacy and larger smart contracts. David Harding, a Bitcoin expert, explained more details about the MASTs proposal in arecent article. Lastly, BIP-342 will introduce a new scripting language to Bitcoin. Tapscript will make soft forks easier to do so that updates are less reliant on hard forks, or sudden changes. It will also allow Bitcoin to add new opcodes to improve Bitcoin’ssmart contract capabilityand change some limits for resource requirements. With Taproot,Decryptreports, “all parties in a transaction can cooperate to make these complex transactions look like standard, person-to-person transactions.” For hardcore programmers, Bitcoin’s main programming site,Bitcoin Core, provides more specific information on the Taproot upgrades. These changes will effectively make Bitcoin much more competitive with Ethereum. By Nov. 16, all Bitcoin nodes will have upgraded with the Taproot protocols, as more than 90% of all nodes have agreed to these changes. This will give developers of smart contracts, non-fungible tokens (NFTs) and decentralized finance (DeFi) apps much more confidence. They will be able to integrate their dApps (decentralized apps) into the Bitcoin network. Moreover, Ethereum’s high fees have made its smart contract and DeFi apps less popular with new developers. Many are now turning toSolana(CCC:SOL-USD) and other “Ethereum killers.” Now, however, Bitcoin can join in the competitive smart contract race. This could lead to a mushrooming number of dApps using Bitcoin in smart contracts and related applications. According toDecrypt, this upgrade will also lower transaction costs at Bitcoin, making it more competitive with Ethereum. No longer just a store of value, Bitcoin can now be a useful transaction currency. As a result, BTC could potentially have a second upward push through the end of the year. This will happen once investors realize the extent of the Taproot upgrades. So far this year, Bitcoin is up 106.9%. It ended last year at $29,374 per BTC crypto token, and reached $60,785 as of Nov. 1. Therefore, even if BTC moves up 20%, or $12,157, from here to $72,942, that would bring its year-to-date performance to a gain of 148.3%. In other words, a 20% gain will lead to a 41.4% percentage point improvement in performance compared to the beginning of the year. Now might not be a bad time to invest in Bitcoin, despite its meteoric rise so far this year. Taproot is likely to lead to another round of appreciation by the general market for this large cryptocurrency. On the date of publication, Mark R. Hake held a long position in Ethereum but did not own any other security mentioned in this article either directly or indirectly.The opinions expressed in this article are those of the writer, subject to the InvestorPlace.comPublishing Guidelines. Mark Hake writes about personal finance onmrhake.medium.comand runs theTotal Yield Value Guidewhich you can reviewhere. • Stock Prodigy Who Found NIO at $2… Says Buy THIS Now • Analyst Who Found Microsoft at $0.38 Names #1 Pick for the AI Boom • America’s #1 EV Stock Still Flying Under the Radar The postBitcoin Is Set to Surge Again After Its Taproot Update Is Completedappeared first onInvestorPlace. \|\| Bitcoin Is Set to Surge Again After Its Taproot Update Is Completed: Bitcoin (CCC: BTC-USD ) crypto is set to undergo an upgrade on Nov. 16 called Taproot, according to Cryptoslate magazine . As a result, BTC will likely benefit greatly from this protocol change. Piles of gold Bitcoin tokens stacked together. Source: kitti Suwanekkasit / Shutterstock.com The main effect of Taproot will be to allow Bitcoin to more efficiently process smart contracts and permit more privacy in multi-signature blockchain transactions. Up until now, Ethereum (CCC: ETH-USD ) had reigned king in this area. Now Bitcoin can have another use for its holders, beyond its current purpose as just as a store of value. InvestorPlace - Stock Market News, Stock Advice & Trading Tips This will add to Bitcoins performance, which has already been impressive so far this year. It traded at $60,785 late on Nov. 1 with a market cap of $1.147 trillion according to CoinMarketCap . What Taproot Will Do for Bitcoin As Cryptoslate explains, Taproot actually involves 3 new Bitcoin Improvement Proposals (BIPs). The first is numbered BIP-340 and allows the use of Schnorr signatures, which enable key aggregations. This is an important way to fix some privacy and space issues. 7 Best Tech Stocks to Buy for Q4 Earnings Season The second is BIP-341, which introduces Merklized abstract syntax trees (MASTs) to make smart contracts on Bitcoin more secure. MASTs allow for smaller transaction sizes, more privacy and larger smart contracts. David Harding, a Bitcoin expert, explained more details about the MASTs proposal in a recent article . Lastly, BIP-342 will introduce a new scripting language to Bitcoin. Tapscript will make soft forks easier to do so that updates are less reliant on hard forks, or sudden changes. It will also allow Bitcoin to add new opcodes to improve Bitcoins smart contract capability and change some limits for resource requirements. With Taproot, Decrypt reports, all parties in a transaction can cooperate to make these complex transactions look like standard, person-to-person transactions. Story continues For hardcore programmers, Bitcoins main programming site, Bitcoin Core , provides more specific information on the Taproot upgrades. Taproots Expected Effect on Bitcoin These changes will effectively make Bitcoin much more competitive with Ethereum. By Nov. 16, all Bitcoin nodes will have upgraded with the Taproot protocols, as more than 90% of all nodes have agreed to these changes. This will give developers of smart contracts, non-fungible tokens (NFTs) and decentralized finance (DeFi) apps much more confidence. They will be able to integrate their dApps (decentralized apps) into the Bitcoin network. Moreover, Ethereums high fees have made its smart contract and DeFi apps less popular with new developers. Many are now turning to Solana (CCC: SOL-USD ) and other Ethereum killers. Now, however, Bitcoin can join in the competitive smart contract race. This could lead to a mushrooming number of dApps using Bitcoin in smart contracts and related applications. According to Decrypt , this upgrade will also lower transaction costs at Bitcoin, making it more competitive with Ethereum. What Investors in BTC Should Do No longer just a store of value, Bitcoin can now be a useful transaction currency. As a result, BTC could potentially have a second upward push through the end of the year. This will happen once investors realize the extent of the Taproot upgrades. So far this year, Bitcoin is up 106.9%. It ended last year at $29,374 per BTC crypto token, and reached $60,785 as of Nov. 1. Therefore, even if BTC moves up 20%, or $12,157, from here to $72,942, that would bring its year-to-date performance to a gain of 148.3%. In other words, a 20% gain will lead to a 41.4% percentage point improvement in performance compared to the beginning of the year. Now might not be a bad time to invest in Bitcoin, despite its meteoric rise so far this year. Taproot is likely to lead to another round of appreciation by the general market for this large cryptocurrency. On the date of publication, Mark R. Hake held a long position in Ethereum but did not own any other security mentioned in this article either directly or indirectly. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines . Mark Hake writes about personal finance on mrhake.medium.com and runs the Total Yield Value Guide which you can review here . More From InvestorPlace Stock Prodigy Who Found NIO at $2 Says Buy THIS Now Analyst Who Found Microsoft at $0.38 Names #1 Pick for the AI Boom Americas #1 EV Stock Still Flying Under the Radar The post Bitcoin Is Set to Surge Again After Its Taproot Update Is Completed appeared first on InvestorPlace . \|\| Baby Floki Doge Set To Reach The Moon WIth Over 12000 Holders: London, United Kingdom--(Newsfile Corp. - November 2, 2021) - At the time of writing, Baby Floki Doge's 24-hour trading volume stood at $485,632; it has obtained more than 12,000 holders in two days of its launch since 27th October. Hailed as the golden child of Doge and Floki, Baby Floki Doge is set on its course to reach Mars based on its hyper-deflationary tokenomics. A platform where every transaction is taxed by 6% of the trading volume and 2% is sent as rewards to the existing holders, the owners of $BABYFD will earn by way of a higher value. They can also stake the currency when the staking platform is ready. Baby Floki Doge To view an enhanced version of this graphic, please visit: https://orders.newsfilecorp.com/files/8372/101766_8ddf76b0040a096b_001full.jpg Feature Rich Crypto Platform with High-Security System Baby Floki Doge is a meme coin that works on the basis of a hyper-deflationary contract mechanism. Taking the token burning system to the next level, the burn wallet address of $BABYFD receives the largest supply of tokens, reducing the total circulation supply over time. The users engaging with Baby Floki Doge will receive higher reflections over time while benefiting from a high-value currency by lowering the token supply. The contract dictating the terms and conditions of reflections, taxation, and burning considers the community's overall benefit. Baby Floki Doge development and marketing team is adamant about ensuring that every community member gains the highest profit from the token and that $BABYFD becomes one of the most prized and popular tokens in the crypto space, gaining more ground than Bitcoin. Tested and Proven System Before the official launch, Baby Floki Doge was tested via different contracts several times and under different names. To prevent token sniping, the platform leverages anti-sniper bots executed during and after the public launch. Solidity Finance has audited Baby Floki Doge , and the liquidity has been locked for a minimum of one year. Story continues Taxation, Distribution, and Reflections Taxing the transactions completed through the platform helps the development and marketing team continue the momentum of building the cryptocurrency. With Baby Floki Doge, this transaction tax is the lowest at 6%. This 6% tax on buy and sell transactions is broken down to 2%, sent as $BABYFD reflections, and another 2% is allocated to the liquidity pool. The last 2% is reserved for the marketing and development tasks aimed at the growth of Baby Floki Doge. About Baby Floki Doge Baby Floki Doge is built by a team of veterans and crypto experts working on a hyper-deflationary system. $BABYFD has an initial token burning contract set in place, which will reduce the circulating supply by 50%. The initial token burning system is further added with a gradual decrease in the price by in-platform burn transactions. Baby Floki Doge aims to create massive income opportunities for the entire community. The users can swap $BNB for $BABYFD on PanCakeSwap and start engaging with a cryptocurrency that brings the best of Dogecoin and Floki to the mainstream. Media Contact Brian Dirk Email - [email protected] PR - Cryptoshib.com Email - [email protected] To view the source version of this press release, please visit https://www.newsfilecorp.com/release/101766 \|\| Baby Floki Doge Set To Reach The Moon WIth Over 12000 Holders: London, United Kingdom--(Newsfile Corp. - November 2, 2021) - At the time of writing,Baby Floki Doge's24-hour trading volume stood at $485,632; it has obtained more than 12,000 holders in two days of its launch since 27th October. Hailed as the golden child of Doge and Floki, Baby Floki Doge is set on its course to reach Mars based on its hyper-deflationary tokenomics. A platform where every transaction is taxed by 6% of the trading volume and 2% is sent as rewards to the existing holders, the owners of $BABYFD will earn by way of a higher value. They can also stake the currency when the staking platform is ready. Baby Floki Doge To view an enhanced version of this graphic, please visit:https://orders.newsfilecorp.com/files/8372/101766_8ddf76b0040a096b_001full.jpg Feature Rich Crypto Platform with High-Security System Baby Floki Dogeis a meme coin that works on the basis of a hyper-deflationary contract mechanism. Taking the token burning system to the next level, the burn wallet address of $BABYFD receives the largest supply of tokens, reducing the total circulation supply over time. The users engaging with Baby Floki Doge will receive higher reflections over time while benefiting from a high-value currency by lowering the token supply. The contract dictating the terms and conditions of reflections, taxation, and burning considers the community's overall benefit. Baby Floki Doge development and marketing team is adamant about ensuring that every community member gains the highest profit from the token and that $BABYFD becomes one of the most prized and popular tokens in the crypto space, gaining more ground than Bitcoin. Tested and Proven System Before the official launch, Baby Floki Doge was tested via different contracts several times and under different names. To prevent token sniping, the platform leverages anti-sniper bots executed during and after the public launch. Solidity Finance hasaudited Baby Floki Doge, and the liquidity has been locked for a minimum of one year. Taxation, Distribution, and Reflections Taxing the transactions completed through the platform helps the development and marketing team continue the momentum of building the cryptocurrency. With Baby Floki Doge, this transaction tax is the lowest at 6%. This 6% tax on buy and sell transactions is broken down to 2%, sent as $BABYFD reflections, and another 2% is allocated to the liquidity pool. The last 2% is reserved for the marketing and development tasks aimed at the growth of Baby Floki Doge. About Baby Floki Doge Baby Floki Dogeis built by a team of veterans and crypto experts working on a hyper-deflationary system. $BABYFD has an initial token burning contract set in place, which will reduce the circulating supply by 50%. The initial token burning system is further added with a gradual decrease in the price by in-platform burn transactions. Baby Floki Doge aims to create massive income opportunities for the entire community. The users can swap $BNB for $BABYFD on PanCakeSwap and start engaging with a cryptocurrency that brings the best of Dogecoin and Floki to the mainstream. Media Contact Brian DirkEmail [email protected] - Cryptoshib.comEmail [email protected] To view the source version of this press release, please visithttps://www.newsfilecorp.com/release/101766 [Social Media Buzz] None available.	61452.23, 61125.68, 61527.48, 63326.99, 67566.83, 66971.83, 64995.23, 64949.96, 64155.94, 64469.53
Given the historical Bitcoin prices from the last 90 days, predict the next 10 daily closing prices. The historical prices are: 17804.01, 17817.09, 18621.31, 18642.23, 18370.00, 18364.12, 19107.46, 18732.12, 17150.62, 17108.40, 17717.41, 18177.48, 19625.84, 18803.00, 19201.09, 19445.40, 18699.77, 19154.23, 19345.12, 19191.63, 18321.14, 18553.92, 18264.99, 18058.90, 18803.66, 19142.38, 19246.64, 19417.08, 21310.60, 22805.16, 23137.96, 23869.83, 23477.29, 22803.08, 23783.03, 23241.35, 23735.95, 24664.79, 26437.04, 26272.29, 27084.81, 27362.44, 28840.95, 29001.72, 29374.15, 32127.27, 32782.02, 31971.91, 33992.43, 36824.36, 39371.04, 40797.61, 40254.55, 38356.44, 35566.66, 33922.96, 37316.36, 39187.33, 36825.37, 36178.14, 35791.28, 36630.07, 36069.80, 35547.75, 30825.70, 33005.76, 32067.64, 32289.38, 32366.39, 32569.85, 30432.55, 33466.10, 34316.39, 34269.52, 33114.36, 33537.18, 35510.29, 37472.09, 36926.07, 38144.31, 39266.01, 38903.44, 46196.46, 46481.11, 44918.18, 47909.33, 47504.85, 47105.52, 48717.29, 47945.06.	[Bitcoin Technical Analysis for 2021-02-15] Volume: 77069903166, RSI (14-day): 70.49, 50-day EMA: 36277.59, 200-day EMA: 23240.53 [Wider Market Context] None available. [Recent News (last 7 days)] DXY V S&P Feb 14 2021: To respectfully indulge words from the last post for context: Overall, EUR/USD was the first currency in August 2020 to break above its 5 year average at 1.1300’s then the 10 year average in December 2020 at 1.2100’s. EUR/USD is categorized in the class of a risk asset and non USD currency. EUR/USD’s early break to its 5 year average set remainder 27 currencies on a course of deep perspective as non USD currency pairs had to not only match EUR/USD’s break to significant averages but the 1000 pip rise in GBP/USD, 700 for AUD/USD and other non USD currency pairs traded weekly from overbought to overbought and a non normal price circumstance. EUR/USD’s break threw normal price markets deeply off course since August 2020. Non USD currency pairs such as DXY, USD/CAD, USD/CHF and USD/JPY only option since August 2020 was to concur with EUR/USD and non USD rises by trading deeply oversold week to week and to break 5 and 10 year averages. EUR/USD and non USD currency pairs as risk assets followed risk asset counterparts in stock markets higher to current richter scale overbought levels. The S&P’s at 3900.00’s trade at extreme overbought levels. The DAX achieved all time highs. Stock market longs are virtually impossible until a significant correction occurs. DXY DXY for example just broke above its 10 year monthly average at 89.95 and contains a long way to travel to the 5 year average at 95.00’s. A currency pair to trade at a 10 year monthly average is not only a low, low price but extraordinary and highlights the magnitude to the rises and falls since last August. Next averages above to break are located at 91.43, 92.78 then 94.39 and 94.16. DXY from monthly averages 1 to 7 years faces stiff resistance from 94.00’s to 95.00’s. A break through this brick wall then DXY will travel easily to 97.00’s and 99.00’s. DXY below 89.95 targets 86.43, 84.32 and 81.83 at extreme oversold. Targets for DXY above 89.95 are located at 90.86, above 91.43 then 92.15, 92.47 and 92.66. Above 92.78 targets 92.87 and 92.89. DXY from current ranges from 89.95 to 92.78 trade at its widest ranges. As DXY travels higher then ranges severely compress. The opposite is true for EUR/USD as the higher it trades then ranges open much wider. Despite a low price and trade below monthly 5 year averages, DXY is mid range to oversold/ overbought. S&P’s DXY viewed from the S&P’s informs trade location miles above the 5 year monthly average at 2722.43 and at overbought to extremes. Overbought S&P’s reveals a healthy correction is on the way, DXY higher and EUR/USD as well as non USD currency pairs to follow much lower. The S&P’s are held by immediate averages at 3257.68, 3119.54 and 2989.17. A correction targets 3598.53, 3416.84 and 3300.20. A 400 point correction to the S&P’s assumes DXY travels 300 ish pips higher and breaks above 92.78 to trade between 92.78 to 94.39. S&P averages from 3257.68 travels every 100 points to 2200.00’s at the 10 year monthly average. Current S&P’s ranges are fairly suppressed however as S&P’s drop then ranges expand as the downside gains progresses. GOLD Gold trades above its 5 year monthly average at 1461.20 and trades misaligned to the S&P’s. Gold and the DXY are the same assets and should trade below 5 year monthly averages while the S&P’s trade above. Gold’s drop is held by 1815.65 and below targets 1642.17 and 1543.98. Gold is deeply overbought from a medium and long term perspective. Gold is finished above at 1943.62 and short is the only trade available. Moving forward, long USD and DXY is the best option while short Gold and the S&P’s although Gold lacks any real range capability. Gold viewed from 150 to 200 points is a viable option as it fails to contain any big price moves. Thisarticlewas originally posted on FX Empire • Bitcoin and Ripple’s XRP – Weekly Technical Analysis – February 15th, 2021 • DXY V S&P Feb 14 2021 • Oil Price Fundamental Daily Forecast – Higher as Stimulus Hopes, Tighter Supplies Offset Worries Over Demand • The Crypto Daily – Movers and Shakers – February 14th, 2021 • Cannabis, Alternative Agra, Mushrooms, and Cryptos – All ALTs are HOT • Natural Gas Price Fundamental Daily Forecast – Futures Capped by Stubborn Short-Sellers While Spot Prices Soar \|\| DXY V S&P Feb 14 2021: To respectfully indulge words from the last post for context: Overall, EUR/USD was the first currency in August 2020 to break above its 5 year average at 1.1300’s then the 10 year average in December 2020 at 1.2100’s. EUR/USD is categorized in the class of a risk asset and non USD currency. EUR/USD’s early break to its 5 year average set remainder 27 currencies on a course of deep perspective as non USD currency pairs had to not only match EUR/USD’s break to significant averages but the 1000 pip rise in GBP/USD, 700 for AUD/USD and other non USD currency pairs traded weekly from overbought to overbought and a non normal price circumstance. EUR/USD’s break threw normal price markets deeply off course since August 2020. Non USD currency pairs such as DXY, USD/CAD, USD/CHF and USD/JPY only option since August 2020 was to concur with EUR/USD and non USD rises by trading deeply oversold week to week and to break 5 and 10 year averages. EUR/USD and non USD currency pairs as risk assets followed risk asset counterparts in stock markets higher to current richter scale overbought levels. The S&P’s at 3900.00’s trade at extreme overbought levels. The DAX achieved all time highs. Stock market longs are virtually impossible until a significant correction occurs. DXY DXY for example just broke above its 10 year monthly average at 89.95 and contains a long way to travel to the 5 year average at 95.00’s. A currency pair to trade at a 10 year monthly average is not only a low, low price but extraordinary and highlights the magnitude to the rises and falls since last August. Next averages above to break are located at 91.43, 92.78 then 94.39 and 94.16. DXY from monthly averages 1 to 7 years faces stiff resistance from 94.00’s to 95.00’s. A break through this brick wall then DXY will travel easily to 97.00’s and 99.00’s. DXY below 89.95 targets 86.43, 84.32 and 81.83 at extreme oversold. Targets for DXY above 89.95 are located at 90.86, above 91.43 then 92.15, 92.47 and 92.66. Above 92.78 targets 92.87 and 92.89. Story continues DXY from current ranges from 89.95 to 92.78 trade at its widest ranges. As DXY travels higher then ranges severely compress. The opposite is true for EUR/USD as the higher it trades then ranges open much wider. Despite a low price and trade below monthly 5 year averages, DXY is mid range to oversold/ overbought. S&P’s DXY viewed from the S&P’s informs trade location miles above the 5 year monthly average at 2722.43 and at overbought to extremes. Overbought S&P’s reveals a healthy correction is on the way, DXY higher and EUR/USD as well as non USD currency pairs to follow much lower. The S&P’s are held by immediate averages at 3257.68, 3119.54 and 2989.17. A correction targets 3598.53, 3416.84 and 3300.20. A 400 point correction to the S&P’s assumes DXY travels 300 ish pips higher and breaks above 92.78 to trade between 92.78 to 94.39. S&P averages from 3257.68 travels every 100 points to 2200.00’s at the 10 year monthly average. Current S&P’s ranges are fairly suppressed however as S&P’s drop then ranges expand as the downside gains progresses. GOLD Gold trades above its 5 year monthly average at 1461.20 and trades misaligned to the S&P’s. Gold and the DXY are the same assets and should trade below 5 year monthly averages while the S&P’s trade above. Gold’s drop is held by 1815.65 and below targets 1642.17 and 1543.98. Gold is deeply overbought from a medium and long term perspective. Gold is finished above at 1943.62 and short is the only trade available. Moving forward, long USD and DXY is the best option while short Gold and the S&P’s although Gold lacks any real range capability. Gold viewed from 150 to 200 points is a viable option as it fails to contain any big price moves. This article was originally posted on FX Empire More From FXEMPIRE: Bitcoin and Ripple’s XRP – Weekly Technical Analysis – February 15th, 2021 DXY V S&P Feb 14 2021 Oil Price Fundamental Daily Forecast – Higher as Stimulus Hopes, Tighter Supplies Offset Worries Over Demand The Crypto Daily – Movers and Shakers – February 14th, 2021 Cannabis, Alternative Agra, Mushrooms, and Cryptos – All ALTs are HOT Natural Gas Price Fundamental Daily Forecast – Futures Capped by Stubborn Short-Sellers While Spot Prices Soar \|\| Avalanche Crippled by Bug Triggered by Unusually High Volume, Engineer Says: An Ava Labs engineer gave a rundown of the small code bug that severely crippled the Avalanche blockchain last week . In a Sunday Medium post , blockchain engineer Patrick O’Grady wrote that increased congestion on the network triggered a “non-deterministic bug” related to how the high-throughput, proof-of-stake blockchain keeps track of transactions. Funds were never at risk, O’Grady notes, though the high-profile misstep has a valuable lesson for the blockchain industry. Related: Russia's Lower House to Consider Bill on Crypto Taxation This Week Avalanche launched in September 2020 with the claim it could process 4,500 transactions per second. It’s backed by prominent cryptocurrency firms including Mike Novogratz’s Galaxy Digital, Bitmain and Initialized Capital. It also has an academic stamp of approval, having been designed by Emin Gün Sirer, a computer science professor at Cornell University. The blockchain is usually grouped with other so-called “Ethereum killers,” or blockchains designed to solve the scalability problems that have plagued the second-largest blockchain since inception. While positioned to steal market share from Ethereum, Avalanche also has been billed as a way to complement and connect – rather than strictly compete – with its forbear. Avalanche has three “default chains,” including the so-called “contract chain” that supports the Ethereum Virtual Machine and its Solidity coding language. It’s this chain that was part of this week’s issue. You can read a full accounting of the problem that arose here. But in short, in order to boost transaction throughput, Avalanche’s three chains remain separate and distinct from each other, each performing within a set range of transaction-types, up until the moment an asset has to hop over to another chain. That process was placed under an incredible strain, following the launch of a new decentralized money market called Pangolin. Story continues Related: Celsius Network, Argo Blockchain Back Pre-Seed Round for Bitcoin Mining Startup An atypical amount of users and volume created an atypical amount of blocks to be processed. This, O’Grady notes, triggered a bug that was creating false cross-chain “mints.” In O’Grady’s words: “This caused some validators to accept some invalid mint transactions, while the rest of the network refused to honor these transactions and stalled the [contract]-chain.” Importantly, no double-spends occurred. “The bug did not affect regular transactions, coin transfers, asset transfers, coin destruction, or smart contract invocations. Avalanche never allowed any user to successfully send the same funds to two recipients,” O’Grady wrote. A read of the issue was ready just hours after the initial issue, though a fix was harder to come by. Given Avalanche’s decentralized nature, it would be impossible to get all the nodes to collude and rollback problematic transactions. Instead, as O’Grady writes, a solution was found through incremental deployment of a patch – basically the way any software is updated. Blockchains are complex things, built by human beings, but run by machines. An issue that was small enough to bypass during an initial inspection can snowball as a network grows. In Avalanche’s case, the bug didn’t bring down the network but it did pour ice water over some of the boasts made about the network’s ability to handle high-throughput prior to launch. AVAX, the blockchain’s token, is trading hands at around $41.20 , down from $53 on Feb. 11 when the problem occured. Related Stories Avalanche Crippled by Bug Triggered by Unusually High Volume, Engineer Says Avalanche Crippled by Bug Triggered by Unusually High Volume, Engineer Says \|\| Avalanche Crippled by Bug Triggered by Unusually High Volume, Engineer Says: An Ava Labs engineer gave a rundown of the small code bug that severely crippled the Avalanche blockchain last week . In a Sunday Medium post , blockchain engineer Patrick O’Grady wrote that increased congestion on the network triggered a “non-deterministic bug” related to how the high-throughput, proof-of-stake blockchain keeps track of transactions. Funds were never at risk, O’Grady notes, though the high-profile misstep has a valuable lesson for the blockchain industry. Related: Russia's Lower House to Consider Bill on Crypto Taxation This Week Avalanche launched in September 2020 with the claim it could process 4,500 transactions per second. It’s backed by prominent cryptocurrency firms including Mike Novogratz’s Galaxy Digital, Bitmain and Initialized Capital. It also has an academic stamp of approval, having been designed by Emin Gün Sirer, a computer science professor at Cornell University. The blockchain is usually grouped with other so-called “Ethereum killers,” or blockchains designed to solve the scalability problems that have plagued the second-largest blockchain since inception. While positioned to steal market share from Ethereum, Avalanche also has been billed as a way to complement and connect – rather than strictly compete – with its forbear. Avalanche has three “default chains,” including the so-called “contract chain” that supports the Ethereum Virtual Machine and its Solidity coding language. It’s this chain that was part of this week’s issue. You can read a full accounting of the problem that arose here. But in short, in order to boost transaction throughput, Avalanche’s three chains remain separate and distinct from each other, each performing within a set range of transaction-types, up until the moment an asset has to hop over to another chain. That process was placed under an incredible strain, following the launch of a new decentralized money market called Pangolin. Story continues Related: Celsius Network, Argo Blockchain Back Pre-Seed Round for Bitcoin Mining Startup An atypical amount of users and volume created an atypical amount of blocks to be processed. This, O’Grady notes, triggered a bug that was creating false cross-chain “mints.” In O’Grady’s words: “This caused some validators to accept some invalid mint transactions, while the rest of the network refused to honor these transactions and stalled the [contract]-chain.” Importantly, no double-spends occurred. “The bug did not affect regular transactions, coin transfers, asset transfers, coin destruction, or smart contract invocations. Avalanche never allowed any user to successfully send the same funds to two recipients,” O’Grady wrote. A read of the issue was ready just hours after the initial issue, though a fix was harder to come by. Given Avalanche’s decentralized nature, it would be impossible to get all the nodes to collude and rollback problematic transactions. Instead, as O’Grady writes, a solution was found through incremental deployment of a patch – basically the way any software is updated. Blockchains are complex things, built by human beings, but run by machines. An issue that was small enough to bypass during an initial inspection can snowball as a network grows. In Avalanche’s case, the bug didn’t bring down the network but it did pour ice water over some of the boasts made about the network’s ability to handle high-throughput prior to launch. AVAX, the blockchain’s token, is trading hands at around $41.20 , down from $53 on Feb. 11 when the problem occured. Related Stories Avalanche Crippled by Bug Triggered by Unusually High Volume, Engineer Says Avalanche Crippled by Bug Triggered by Unusually High Volume, Engineer Says \|\| Roadman Investments Signs Social eCommerce Licensing Agreement with A3Com Solutions Corp: VANCOUVER, BC / ACCESSWIRE / February 14, 2021/Roadman Investments Corp. (TSXV:LITT)(FWB:1QD)(OTC PINK:RMANF) ("Roadman" or the "Company")("Roadman" or the "Company") is pleased to announce that it has signed a Social eCommerce Licensing Agreement with A3Com Solutions Corp. ("A3Com"). A3Com is a Vancouver-based eCommerce and mobile rewards platform and software development company. A3Com has an exclusive license for the right to develop iCashRewards, a next generation social eCommerce video marketing and rewards platform. iCashRewards is a leading provider of online and virtual reality shopping experience solutions, connecting merchants and consumers across the globe. iCashRewards is a web and mobile plug-in that gives online shoppers rewards in the form of cash back or USDT. iCashRewards welcomes global users to shop brand names like Microsoft, Canva, GoDaddy, Adidas, WIX, Shopify, Booking.com, Groupon, Virbela, Shoppers Drug Mart, Indigo, illy, Saks Fifths Avenue, Bloomingdales, Ledger, KeepKey, Huobi Cloud Bitcoin OTC, iBOFi and over 150 brands through its portalwww.iCashRewards.io. iCashRewards is reinventing marketing using blockchain technology for loyalty rewards and applying augmented reality (AR) and virtual reality (VR) short-form video marketing programs to be a disruptive force in the digital marketing space. "We are feeling confident and excited about adding A3Com Solutions iCashRewards on our investment portfolio and creating new revenue streams through an innovative social eCommerce and VR digital marketing platform." said Luke Montaine, CEO of Roadman Investments. "Welcome to iCashRewards, your new home for an innovative next-generation digital learning and shopping experience, supported by revolutionary virtual networking for participants across the globe." said Blair Lowther, President of A3Com Solutions. Under the terms of the licensing agreement, Roadman will absorb A3Com's development and license program and key personnel into its digital online remote operations and agrees to pay A3Com an upfront payment. A3Com is also eligible to receive potential additional payments related to development and online sales. Roadman has a first right of refusal to purchase 100% of A3Com after Roadman reaches 500,000 users on iCashRewards.io. About A3Com Solutions Corp. A3Com Solutions Corp.("A3Com") is a Vancouver-based startup, Blockchain & AI-focused software development company focusing on e-commerce and mobile reward platforms, consumer loyalty, and digital marketing. A3Com's featured platform is iCashRewards, which connects merchants and consumers worldwide. About Roadman Investments Corp. Roadman Investments Corp. ("Roadman") is a Canadian Venture Capital and Advisory Firm that strives to actively drive innovation and accelerate growth within its portfolio holdings in order to realize alpha returns for its shareholders. Roadman invests capital into companies that offer breakthrough products, devices, treatments and health supplements. For more information on iCashRewards or A3Com, visitwww.iCashRewards.ioand follow iCashRewards on: Facebook:https://www.facebook.com/iCashrewards.ioInstagram:https://www.instagram.com/iCashRewards/Linkedin:https://www.linkedin.com/company/icashrewardsTwitter:https://twitter.com/iCashloyaltyYoutube:https://bit.ly/2zaJE39 Contacts: A3Com Contacts:Fanny TravisTel: 604.689.0618Email:[email protected] Roadman Contacts:Luke MontaineTel:[email protected] Cautionary and Forward-Looking Statements This news release includes certain statements that constitute "forward-looking information" within the meaning of applicable securities law, including without limitation, completing a transaction with A3Com, other statements relating to the financial and business prospects of the Company, and other matters. Forward-looking statements address future events and conditions and are necessarily based upon a number of estimates and assumptions. These statements relate to analyses and other information that are based on forecasts of future results, estimates of amounts not yet determinable and assumptions of management. Any statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions or future events or performance (often, but not always, using words or phrases such as "expects" or "does not expect", "is expected", "anticipates" or "does not anticipate", "plans", "estimates" or "intends", or stating that certain actions, events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved), and variations of such words, and similar expressions are not statements of historical fact and may be forward-looking statements. Forward-looking statement are necessarily based upon a number of factors that, if untrue, could cause the actual results, performances or achievements of the Company to be materially different from future results, performances or achievements express or implied by such statements. Such statements and information are based on numerous assumptions regarding present and future business strategies and the environment in which the Company will operate in the future, including the price of metals, anticipated costs and the ability to achieve goals, that general business and economic conditions will not change in a material adverse manner, that financing will be available if and when needed and on reasonable terms. While such estimates and assumptions are considered reasonable by the management of the Company, they are inherently subject to significant business, economic, competitive and regulatory uncertainties and risks. Factors that could cause actual results to differ materially from those in forward looking statements include, but are not limited to, continued availability of capital and financing and general economic, market or business conditions, the loss of key directors, employees, advisors or consultants, increase in costs, litigation, failure of counterparties to perform their contractual obligations and fees charged by service providers. Investors are cautioned that forward-looking statements are not guarantees of future performance or events and, accordingly are cautioned not to put undue reliance on forward-looking statements due to the inherent uncertainty of such statements. The forward-looking statements included in this news release are made as of the date hereof and the Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as expressly required by applicable securities legislation. Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. SOURCE:Roadman Investments Corp. View source version on accesswire.com:https://www.accesswire.com/629637/Roadman-Investments-Signs-Social-eCommerce-Licensing-Agreement-with-A3Com-Solutions-Corp \|\| Roadman Investments Signs Social eCommerce Licensing Agreement with A3Com Solutions Corp: VANCOUVER, BC / ACCESSWIRE / February 14, 2021 / Roadman Investments Corp. (TSXV:LITT)(FWB:1QD)(OTC PINK:RMANF) (" Roadman " or the " Company ")(" Roadman " or the " Company ") is pleased to announce that it has signed a Social eCommerce Licensing Agreement with A3Com Solutions Corp. (" A3Com "). A3Com is a Vancouver-based eCommerce and mobile rewards platform and software development company. A3Com has an exclusive license for the right to develop iCashRewards, a next generation social eCommerce video marketing and rewards platform. iCashRewards is a leading provider of online and virtual reality shopping experience solutions, connecting merchants and consumers across the globe. iCashRewards is a web and mobile plug-in that gives online shoppers rewards in the form of cash back or USDT. iCashRewards welcomes global users to shop brand names like Microsoft, Canva, GoDaddy, Adidas, WIX, Shopify, Booking.com, Groupon, Virbela, Shoppers Drug Mart, Indigo, illy, Saks Fifths Avenue, Bloomingdales, Ledger, KeepKey, Huobi Cloud Bitcoin OTC, iBOFi and over 150 brands through its portal www.iCashRewards.io . iCashRewards is reinventing marketing using blockchain technology for loyalty rewards and applying augmented reality (AR) and virtual reality (VR) short-form video marketing programs to be a disruptive force in the digital marketing space. "We are feeling confident and excited about adding A3Com Solutions iCashRewards on our investment portfolio and creating new revenue streams through an innovative social eCommerce and VR digital marketing platform." said Luke Montaine, CEO of Roadman Investments. "Welcome to iCashRewards, your new home for an innovative next-generation digital learning and shopping experience, supported by revolutionary virtual networking for participants across the globe." said Blair Lowther, President of A3Com Solutions. Under the terms of the licensing agreement, Roadman will absorb A3Com's development and license program and key personnel into its digital online remote operations and agrees to pay A3Com an upfront payment. A3Com is also eligible to receive potential additional payments related to development and online sales. Roadman has a first right of refusal to purchase 100% of A3Com after Roadman reaches 500,000 users on iCashRewards.io. Story continues About A3Com Solutions Corp. A3Com Solutions Corp.("A3Com") is a Vancouver-based startup, Blockchain & AI-focused software development company focusing on e-commerce and mobile reward platforms, consumer loyalty, and digital marketing. A3Com's featured platform is iCashRewards, which connects merchants and consumers worldwide. About Roadman Investments Corp. Roadman Investments Corp. ("Roadman") is a Canadian Venture Capital and Advisory Firm that strives to actively drive innovation and accelerate growth within its portfolio holdings in order to realize alpha returns for its shareholders. Roadman invests capital into companies that offer breakthrough products, devices, treatments and health supplements. For more information on iCashRewards or A3Com, visit www.iCashRewards.io and follow iCashRewards on: Facebook: https://www.facebook.com/iCashrewards.io Instagram: https://www.instagram.com/iCashRewards/ Linkedin: https://www.linkedin.com/company/icashrewards Twitter: https://twitter.com/iCashloyalty Youtube: https://bit.ly/2zaJE39 Contacts: A3Com Contacts: Fanny Travis Tel: 604.689.0618 Email: [email protected] Roadman Contacts: Luke Montaine Tel: [email protected] Cautionary and Forward-Looking Statements This news release includes certain statements that constitute "forward-looking information" within the meaning of applicable securities law, including without limitation, completing a transaction with A3Com, other statements relating to the financial and business prospects of the Company, and other matters. Forward-looking statements address future events and conditions and are necessarily based upon a number of estimates and assumptions. These statements relate to analyses and other information that are based on forecasts of future results, estimates of amounts not yet determinable and assumptions of management. Any statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions or future events or performance (often, but not always, using words or phrases such as "expects" or "does not expect", "is expected", "anticipates" or "does not anticipate", "plans", "estimates" or "intends", or stating that certain actions, events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved), and variations of such words, and similar expressions are not statements of historical fact and may be forward-looking statements. Forward-looking statement are necessarily based upon a number of factors that, if untrue, could cause the actual results, performances or achievements of the Company to be materially different from future results, performances or achievements express or implied by such statements. Such statements and information are based on numerous assumptions regarding present and future business strategies and the environment in which the Company will operate in the future, including the price of metals, anticipated costs and the ability to achieve goals, that general business and economic conditions will not change in a material adverse manner, that financing will be available if and when needed and on reasonable terms. While such estimates and assumptions are considered reasonable by the management of the Company, they are inherently subject to significant business, economic, competitive and regulatory uncertainties and risks. Factors that could cause actual results to differ materially from those in forward looking statements include, but are not limited to, continued availability of capital and financing and general economic, market or business conditions, the loss of key directors, employees, advisors or consultants, increase in costs, litigation, failure of counterparties to perform their contractual obligations and fees charged by service providers. Investors are cautioned that forward-looking statements are not guarantees of future performance or events and, accordingly are cautioned not to put undue reliance on forward-looking statements due to the inherent uncertainty of such statements. The forward-looking statements included in this news release are made as of the date hereof and the Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as expressly required by applicable securities legislation. Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. SOURCE: Roadman Investments Corp. View source version on accesswire.com: https://www.accesswire.com/629637/Roadman-Investments-Signs-Social-eCommerce-Licensing-Agreement-with-A3Com-Solutions-Corp \|\| Volkswagen Chief Says Company 'Not Afraid' Of Apple Electric Car: Volkswagen(OTC:VLKAF) CEO says the company is not worried about the prospect of an electric car fromApple Inc(NASDAQ:AAPL). What Happened:Rumorshave been flying that the Sacramento-based tech giant might be getting ready to jump into the auto industry. In December, Reutersreportedthat Apple might be getting ready to build an electric vehicle for 2024. See also: How to Buy Volkswagen Stock Herbert Diess, the CEO of the German auto conglomerate, in an interview published today by German newspaper Frankfurter Allgemeine Sonntagszeitung, saidthat even if the news were true, Apple wouldn’t be able to “manage it overnight.” “The car industry is not a typical tech-sector that you could take over at a single stroke,” Diess said, according to aReuterstranslation. Although Volkswagen’s chief executive acknowledged that producing an electric car is a “logical” move for the iPhone manufacturer because it already has expertise in design, software development and batteries — not to mention enough capital to pull it off. “Still, we are not afraid,” he added. Price Action: Apple stock closed at $135.37 on Friday, up 0.18%, and were up 0.044% higher in the after-hours session, rising to $135.43. Volkswagen shares closed at $220.20, a drop of 0.86%, on Friday. See more from Benzinga • Click here for options trades from Benzinga • Robinhood CEO Goes To Confessional: Vlad Tenev Admits Mistakes On Chamath Palihapitiya's Podcast • Bitcoin Price Nears ,000 Following Week Of Good News © 2021 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. \|\| Volkswagen Chief Says Company 'Not Afraid' Of Apple Electric Car: Volkswagen (OTC: VLKAF ) CEO says the company is not worried about the prospect of an electric car from Apple Inc (NASDAQ: AAPL ). What Happened: Rumors have been flying that the Sacramento-based tech giant might be getting ready to jump into the auto industry. In December, Reuters reported that Apple might be getting ready to build an electric vehicle for 2024. See also: How to Buy Volkswagen Stock Herbert Diess, the CEO of the German auto conglomerate, in an interview published today by German newspaper Frankfurter Allgemeine Sonntagszeitung , said that even if the news were true, Apple wouldnt be able to manage it overnight. The car industry is not a typical tech-sector that you could take over at a single stroke, Diess said, according to a Reuters translation. Although Volkswagens chief executive acknowledged that producing an electric car is a logical move for the iPhone manufacturer because it already has expertise in design, software development and batteries not to mention enough capital to pull it off. Still, we are not afraid, he added. Price Action : Apple stock closed at $135.37 on Friday, up 0.18%, and were up 0.044% higher in the after-hours session, rising to $135.43. Volkswagen shares closed at $220.20, a drop of 0.86%, on Friday. See more from Benzinga Click here for options trades from Benzinga Robinhood CEO Goes To Confessional: Vlad Tenev Admits Mistakes On Chamath Palihapitiya's Podcast Bitcoin Price Nears ,000 Following Week Of Good News © 2021 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. \|\| Mark Cuban Reveals Why He Owns More Amazon and Netflix Than Any Other Stock: Mark Cuban, who made billions selling Broadcast.com to Yahoo! back in 1999, remains an active investor. He is also a student of the markets who is happy toshare his ideas with the world, especially because they often go against the conventional wisdom. He gave an interview with Real Vision, a financial news channel, this week. Here are some of the big takeaways: See:Americans’ Savings Drop to Lowest Point in YearsFind:Economy Explained — What Does the Fed Do, Anyway? 1. First and foremost, he thinks the stock market is in a bubble because of the Federal Reserve’s very low interest rates, which give investors a huge incentive to put money into stocks if they want anything like a return. 2. He sees the meme stock activity as an act of revenge rather than trading or gambing. Looking at GameStop (NYSE: GME), he says that the market is likely to be undone by liquidity issues. “It’s liquidity, as we saw with Robinhood, and it’s the SEC, who we don’t know what they’re going to do,” he said. See:20 Genius Things Mark Cuban Says to Do With Your MoneyFind:Mark Cuban — “Bitcoin is Exactly like the Dot Com Bubble” 3. He has been buying cryptocurrencies over the years. “I’ve just never sold,” he said. “Bitcoin is not going to be a currency. It’s not going to be a hedge against fiat and printing too many fiat dollars. It is a store of value that is going to increase in value because it’s scarce.” 4. His biggest holdings are Amazon (NASDAQ: AMZN) and Netflix (NASDAQ: NFLX), in large part because he likes their artificial intelligence capabilities. He has no trouble with the government breaking up the technology companies because he thinks it will only create more shareholder value. 5. At current interest rates, he thinks the government should send out more stimulus checks. More From GOBankingRates: • These Are the Best Banks of 2021 – Did Yours Make the Cut? • 36 Ways To Save For Your Emergency Fund and Any Unexpected Situations • Top 100 Banks Leading the U.S. in 2021 • 25 Tips and Tricks for Buying a Car Online During the Pandemic This article originally appeared onGOBankingRates.com:Mark Cuban Reveals Why He Owns More Amazon and Netflix Than Any Other Stock \|\| Mark Cuban Reveals Why He Owns More Amazon and Netflix Than Any Other Stock: ETIENNE LAURENT/EPA-EFE/Shutterstock / ETIENNE LAURENT/EPA-EFE/Shutterstock Mark Cuban, who made billions selling Broadcast.com to Yahoo! back in 1999, remains an active investor. He is also a student of the markets who is happy to share his ideas with the world , especially because they often go against the conventional wisdom. He gave an interview with Real Vision, a financial news channel, this week. Here are some of the big takeaways: See: Americans’ Savings Drop to Lowest Point in Years Find: Economy Explained — What Does the Fed Do, Anyway? 1. First and foremost, he thinks the stock market is in a bubble because of the Federal Reserve’s very low interest rates, which give investors a huge incentive to put money into stocks if they want anything like a return. 2. He sees the meme stock activity as an act of revenge rather than trading or gambing. Looking at GameStop (NYSE: GME), he says that the market is likely to be undone by liquidity issues. “It’s liquidity, as we saw with Robinhood, and it’s the SEC, who we don’t know what they’re going to do,” he said. See: 20 Genius Things Mark Cuban Says to Do With Your Money Find: Mark Cuban — “Bitcoin is Exactly like the Dot Com Bubble” 3. He has been buying cryptocurrencies over the years. “I’ve just never sold,” he said. “Bitcoin is not going to be a currency. It’s not going to be a hedge against fiat and printing too many fiat dollars. It is a store of value that is going to increase in value because it’s scarce.” 4. His biggest holdings are Amazon (NASDAQ: AMZN) and Netflix (NASDAQ: NFLX), in large part because he likes their artificial intelligence capabilities. He has no trouble with the government breaking up the technology companies because he thinks it will only create more shareholder value. 5. At current interest rates, he thinks the government should send out more stimulus checks. More From GOBankingRates: These Are the Best Banks of 2021 – Did Yours Make the Cut? 36 Ways To Save For Your Emergency Fund and Any Unexpected Situations Top 100 Banks Leading the U.S. in 2021 25 Tips and Tricks for Buying a Car Online During the Pandemic This article originally appeared on GOBankingRates.com : Mark Cuban Reveals Why He Owns More Amazon and Netflix Than Any Other Stock \|\| 12 tax red flags that could lead the IRS to audit you: Long after this year's tax season ends, the dreaded wordsIRS auditmean a headache is on the way for many U.S. taxpayers. Typically, the tax agency will audit less than 1% of all tax returns. But even 0.5% is still one out of every 200 taxpayers, which might have you sweating over your chances of being audited. But being chosen for an audit is more than a game of chance, and you’re less likely to attract attention from the IRS if you watch out for common red flags when you’refiling your taxes this season. Here are 12 to look out for. First, let’s look at somered flags thatcan’tbe avoided. The stats don’t lie — the more money you make, the more likely an audit is coming your way. “Despite common misperceptions about IRS examination rates, the reality is that the likelihood of an audit significantly increases as income grows,” says IRS Deputy Commissioner Sunita Lough. That doesn’t mean low-income workers can coast during tax time, but just prepared for extra scrutiny with a higher income. The IRS says typical audits for higher-income taxpayers involve at least three different tax years, and could take years to resolve. So if you’re in that group, take extra care when filing your taxes, and consider getting some help fromtax experts. This might seem unfair. If running a business wasn’t already difficult enough during the COVID-19 pandemic, now you have to worry about getting audited too. But just ask any business owner about the paperwork involved — there are a few things you could miss when you do your taxes, so the IRS is going to bring its magnifying glass to your return. Schedule C, the tax form that sole proprietors will fill out, has a ton of deductions for self-employed people. But the tax agency knows from experience that deductions can occasionally go overboard. When you’re filing your taxes, you have two choices: Itemize your deductions and list them out one by one, or take the simplified standard deduction. Deductions decrease your taxable income and help lower your tax bill, and after a 2017 tax law nearly doubled the standard deduction amounts, most U.S. households opt for that route. But, some taxpayers have lots of legally allowable deductions for qualifying expenses, and will itemize them instead. A super-high itemized deduction will open some eyes down at the tax agency. Just make sure you have all your documentation on hand to support your tax return. There are plenty of causes that need the help this year, and it doesn’t hurt that you can write-off that good deed, too. But if your charitable donation is astonishingly high compared to your income, it’s a red flag for the IRS. The agency t knows what the average charitable donation is for each income level. If your adjusted gross income is $75,000, the average yearly charitable donation is a bit higher than $3,000. If you donate, say $10,000 in a single year, expect a higher chance of you’ll hear from the IRS. As part of this year’snew tax changes, the agency is actually making it easier to get your tax break for donations, with a write off up to $300 in cash contributions to charity, even if you take the standard deduction. If you’re intobuying and selling Bitcoinand other digital currencies, the IRS wants to know. In 2019, the agency began sending thousands of letters to cryptocurrency holders, warning them they may have broken federal tax laws. The tax rules treat Bitcoin and other cryptocurrencies as property for tax purposes, and have published a set ofFAQsto help you file properly. The tax man may come knocking simply because you work in a certain industry. Cash businesses, like restaurants, lawn care and laundromats, are more likely to be audited because of how difficult it is to verify income received in cash. Try to document your business transactions as much as you can. If the IRS does come calling, they’ll want to confirm that your lifestyle is supported by your declared income. Speaking of cash transactions, any business that receives more than $10,000 in cash in a single transaction has to send a form to the IRS. So, if you’re making it rain at pawn shops, car dealers or casinos, be prepared for some added scrutiny. Next, these (likely) errors are also going to invite attention from the IRS. Here aresix red flags thatcanbe avoided. If you can’t get affordable health coverage through your employer, and you’re not eligible for Medicare, Medicaid or other federal insurance, you could get a handy tax credit when you buy insurance through a marketplace likehealthcare.gov. You can choose to have the credit paid in advance to the insurance company to lower your monthly payments, and then complete the necessary paperwork when you file your taxes. If you forget to report that subsidy, or you claim it even though you’re above the income threshold, you may get extra IRS attention. It might help to shop around andcompare ratesfrom health insurance companies. If you’re an American taxpayer stashing some of your money outside the U.S., the tax man will eventually find out. You're better off reporting your money before The IRS come looking. Failure to report your foreign bank account can lead to severe penalties. Just make sure you file aReport of Foreign Bank and Financial Accounts(FBAR) by deadline day. Business owners can list the depreciation of their car and the percentage of its business use for the year. But claiming that 100% of the use of your vehicle is for business is a major red flag. Have youreallynever used that car for anything but business? If you want to save extra cash on your car legitimately, check to see if you’re paying too much for insurance. If you haven’tshopped around for rateslately, you may be paying $1,100 more than you have to. It’s time to finally expense all those new home office products you bought last year, right? Even though the pandemic forced more people than ever to work from home in 2020, most won’t be able to claim the home office deduction. To save some money on those expenses, try afree browser extensionto compare prices and ensure you’re getting the best deals. Prior to 2018, some employees could write off home expenses if they went for itemized deductions. Now, the benefit is only available to self-employed people or independent contractors who use a space in their home exclusively for business. Even if you are eligible for this write off, you need to calculate what percentage of your home was used for business, and the IRS will flag your return if that number looks suspicious to them. All that money you’re paying into your traditional IRA or 401(k)? Technically you don’t need to wait until you’re retired before you start withdrawing. But if you do decide to make some withdrawals before the age of 59 1/2, there are some tax implications. You’ll pay a 10% penalty on top of regular income tax unless you qualify for an exemption, such as using your IRA to buy your first home. The IRS is on the lookout for taxpayers who don’tt actually qualify for those exemptions. Creating a strategy for your retirement accounts isn’t always simple. You may consider talking to acertified financial planner(CFP) who can help you make a personalized plan. This might seem obvious: If you don’t even bother filing an income tax return, the IRS is going to raise an eyebrow. But the IRS has been having a hard time keeping up with people who do not file tax returns — and it’s high-income nonfilers who are causing the most trouble. The Treasury Inspector General for Tax Administration released a report in 2020 that highlights tax money being left on the table by not pursuing nonfilers and set out recommendations to help the IRS to bridge that tax gap. That means that even if you’re not a high-earner, the tax agency may take nonfilers a bit more seriously this year. If it’s your first time, check out ourguide on filing your taxes. The process might be confusing at first, but getting audited iswaymore complicated. \|\| 12 tax red flags that could lead the IRS to audit you: 12 tax red flags that could lead the IRS to audit you Long after this year's tax season ends, the dreaded words IRS audit mean a headache is on the way for many U.S. taxpayers. Typically, the tax agency will audit less than 1% of all tax returns. But even 0.5% is still one out of every 200 taxpayers, which might have you sweating over your chances of being audited. But being chosen for an audit is more than a game of chance, and you’re less likely to attract attention from the IRS if you watch out for common red flags when you’re filing your taxes this season. Here are 12 to look out for. First, let’s look at some red flags that can’t be avoided . 1. Making a lot of money The stats don’t lie — the more money you make, the more likely an audit is coming your way. “Despite common misperceptions about IRS examination rates, the reality is that the likelihood of an audit significantly increases as income grows,” says IRS Deputy Commissioner Sunita Lough. That doesn’t mean low-income workers can coast during tax time, but just prepared for extra scrutiny with a higher income. The IRS says typical audits for higher-income taxpayers involve at least three different tax years, and could take years to resolve. So if you’re in that group, take extra care when filing your taxes, and consider getting some help from tax experts . 2. Running a business mavo / Shutterstock This might seem unfair. If running a business wasn’t already difficult enough during the COVID-19 pandemic, now you have to worry about getting audited too. But just ask any business owner about the paperwork involved — there are a few things you could miss when you do your taxes, so the IRS is going to bring its magnifying glass to your return. Schedule C, the tax form that sole proprietors will fill out, has a ton of deductions for self-employed people. But the tax agency knows from experience that deductions can occasionally go overboard. 3. High itemized deductions Vitalii Vodolazskyi / Shutterstock When you’re filing your taxes, you have two choices: Itemize your deductions and list them out one by one, or take the simplified standard deduction. Story continues Deductions decrease your taxable income and help lower your tax bill, and after a 2017 tax law nearly doubled the standard deduction amounts, most U.S. households opt for that route. But, some taxpayers have lots of legally allowable deductions for qualifying expenses, and will itemize them instead. A super-high itemized deduction will open some eyes down at the tax agency. Just make sure you have all your documentation on hand to support your tax return. 4. Large charitable donations Andrii Yalanskyi / Shutterstock There are plenty of causes that need the help this year, and it doesn’t hurt that you can write-off that good deed, too. But if your charitable donation is astonishingly high compared to your income, it’s a red flag for the IRS. The agency t knows what the average charitable donation is for each income level. If your adjusted gross income is $75,000, the average yearly charitable donation is a bit higher than $3,000. If you donate, say $10,000 in a single year, expect a higher chance of you’ll hear from the IRS. As part of this year’s new tax changes , the agency is actually making it easier to get your tax break for donations, with a write off up to $300 in cash contributions to charity, even if you take the standard deduction. 5. Dealing in cryptocurrency eamesBot / Shutterstock If you’re into buying and selling Bitcoin and other digital currencies, the IRS wants to know. In 2019, the agency began sending thousands of letters to cryptocurrency holders, warning them they may have broken federal tax laws. The tax rules treat Bitcoin and other cryptocurrencies as property for tax purposes, and have published a set of FAQs to help you file properly. 6. Cash transactions Maryna Pleshkun / Shutterstock The tax man may come knocking simply because you work in a certain industry. Cash businesses, like restaurants, lawn care and laundromats, are more likely to be audited because of how difficult it is to verify income received in cash. Try to document your business transactions as much as you can. If the IRS does come calling, they’ll want to confirm that your lifestyle is supported by your declared income. Speaking of cash transactions, any business that receives more than $10,000 in cash in a single transaction has to send a form to the IRS. So, if you’re making it rain at pawn shops, car dealers or casinos, be prepared for some added scrutiny. Next, these (likely) errors are also going to invite attention from the IRS. Here are six red flags that can be avoided . 1. Incorrectly reporting the health premium tax credit lightwavemedia / Shutterstock If you can’t get affordable health coverage through your employer, and you’re not eligible for Medicare, Medicaid or other federal insurance, you could get a handy tax credit when you buy insurance through a marketplace like healthcare.gov . You can choose to have the credit paid in advance to the insurance company to lower your monthly payments, and then complete the necessary paperwork when you file your taxes. If you forget to report that subsidy, or you claim it even though you’re above the income threshold, you may get extra IRS attention. It might help to shop around and compare rates from health insurance companies. 2. Failing to report a foreign bank account If you’re an American taxpayer stashing some of your money outside the U.S., the tax man will eventually find out. You're better off reporting your money before The IRS come looking. Failure to report your foreign bank account can lead to severe penalties. Just make sure you file a Report of Foreign Bank and Financial Accounts (FBAR) by deadline day. 3. 100% business use of a vehicle sirtravelalot / Shutterstock Business owners can list the depreciation of their car and the percentage of its business use for the year. But claiming that 100% of the use of your vehicle is for business is a major red flag. Have you really never used that car for anything but business? If you want to save extra cash on your car legitimately, check to see if you’re paying too much for insurance. If you haven’t shopped around for rates lately, you may be paying $1,100 more than you have to. 4. Claiming the home office deduction Milan Ilic Photographer / Shutterstock It’s time to finally expense all those new home office products you bought last year, right? Even though the pandemic forced more people than ever to work from home in 2020, most won’t be able to claim the home office deduction. To save some money on those expenses, try a free browser extension to compare prices and ensure you’re getting the best deals. Prior to 2018, some employees could write off home expenses if they went for itemized deductions. Now, the benefit is only available to self-employed people or independent contractors who use a space in their home exclusively for business. Even if you are eligible for this write off, you need to calculate what percentage of your home was used for business, and the IRS will flag your return if that number looks suspicious to them. 5. Taking an early payout from retirement accounts Don Mammoser / Shutterstock All that money you’re paying into your traditional IRA or 401(k)? Technically you don’t need to wait until you’re retired before you start withdrawing. But if you do decide to make some withdrawals before the age of 59 1/2, there are some tax implications. You’ll pay a 10% penalty on top of regular income tax unless you qualify for an exemption, such as using your IRA to buy your first home. The IRS is on the lookout for taxpayers who don’tt actually qualify for those exemptions. Creating a strategy for your retirement accounts isn’t always simple. You may consider talking to a certified financial planner (CFP) who can help you make a personalized plan. 6. Nonfilers wavebreakmedia / Shutterstock This might seem obvious: If you don’t even bother filing an income tax return, the IRS is going to raise an eyebrow. But the IRS has been having a hard time keeping up with people who do not file tax returns — and it’s high-income nonfilers who are causing the most trouble. The Treasury Inspector General for Tax Administration released a report in 2020 that highlights tax money being left on the table by not pursuing nonfilers and set out recommendations to help the IRS to bridge that tax gap. That means that even if you’re not a high-earner, the tax agency may take nonfilers a bit more seriously this year. If it’s your first time, check out our guide on filing your taxes . The process might be confusing at first, but getting audited is way more complicated. \|\| Robinhood CEO Goes To Confessional: Vlad Tenev Admits Mistakes On Chamath Palihapitiya's Podcast: Robinhood CEO Vlad Tenev admitted his company could have done a better job explaining the restrictions it took amid the Reddit and GameStop Corp. (NYSE: GME) craze. What Happened: “No doubt we could have communicated this a little bit better to customers,” Tenev said on the All-In Podcast late Friday, the co-host of which, Chamath Palihapitiya, said earlier that those who made the restrictions decision “should go to jail.” “We just did what we had to do to meet our deposit requirements. Because if we didn’t, we would be in a violation, and the consequences would be much worse,” Tenev explained, referring to the decision the company made on Jan. 28. But the platform’s announcement angered a lot of customers, and the comments flooded Twitter and other social media. Either @RobinhoodApp allows free trading or it's the end of Robinhood. Period. — Dave Portnoy (@stoolpresidente) January 28, 2021 The platform's CEO shared that he had received a lot of emails and phone calls after the emails about trading restrictions were sent. “As soon as those emails went out, the conspiracy theories started coming, so my phone was blowing up with, ‘How could you do this, how could you be on the side of the hedge funds?’” he said. “We probably could have offered more detail into that, with the foresight that maybe customers would think that a hedge fund forced us to do it.” Tenev also added that “the [restricting] process is operationalized at Robinhood,” and the platform has done it before “from time to time under different circumstances.” Why It Matters: The comments precede the U.S. House Financial Services Committee hearing on Feb.18, where Tenev, along with the CEOs of Reddit, Citadel Securities, and Melvin Capital, will be testifying. Photo by Noam Galai, courtesy WikiMedia/Creative Commons. Story continues See more from Benzinga Click here for options trades from Benzinga Bitcoin Price Nears ,000 Following Week Of Good News Freewallet Defends Self-Hosted Wallets After Elon Musk Criticism, Says Installs Increased By 50% Following Tweets © 2021 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. \|\| Robinhood CEO Goes To Confessional: Vlad Tenev Admits Mistakes On Chamath Palihapitiya's Podcast: Robinhood CEO Vlad Tenev admitted his company could have done a better job explaining the restrictions it took amid the Reddit and GameStop Corp. (NYSE: GME) craze. What Happened: “No doubt we could have communicated this a little bit better to customers,” Tenev said on the All-In Podcast late Friday, the co-host of which, Chamath Palihapitiya, said earlier that those who made the restrictions decision “should go to jail.” “We just did what we had to do to meet our deposit requirements. Because if we didn’t, we would be in a violation, and the consequences would be much worse,” Tenev explained, referring to the decision the company made on Jan. 28. But the platform’s announcement angered a lot of customers, and the comments flooded Twitter and other social media. Either @RobinhoodApp allows free trading or it's the end of Robinhood. Period. — Dave Portnoy (@stoolpresidente) January 28, 2021 The platform's CEO shared that he had received a lot of emails and phone calls after the emails about trading restrictions were sent. “As soon as those emails went out, the conspiracy theories started coming, so my phone was blowing up with, ‘How could you do this, how could you be on the side of the hedge funds?’” he said. “We probably could have offered more detail into that, with the foresight that maybe customers would think that a hedge fund forced us to do it.” Tenev also added that “the [restricting] process is operationalized at Robinhood,” and the platform has done it before “from time to time under different circumstances.” Why It Matters: The comments precede the U.S. House Financial Services Committee hearing on Feb.18, where Tenev, along with the CEOs of Reddit, Citadel Securities, and Melvin Capital, will be testifying. Photo by Noam Galai, courtesy WikiMedia/Creative Commons. Story continues See more from Benzinga Click here for options trades from Benzinga Bitcoin Price Nears ,000 Following Week Of Good News Freewallet Defends Self-Hosted Wallets After Elon Musk Criticism, Says Installs Increased By 50% Following Tweets © 2021 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. \|\| Coinbase Ventures, Paradigm Invest $12M in Synthetix DeFi Platform: Decentralized trading platform Synthetix has raised $12 million from venture capital firms Coinbase Ventures, Paradigm and IOSG. The raise looks to be a rare occurrence of VCs investing through the purchase of a platform’s native token directly from its treasury rather than wiring funds to its founders. Synthetix is run by a DAO, or a decentralized automatic organization, a way for a project to govern itself without a traditional corporate structure. Token holders are typically encouraged to vote on the direction the DAO will take. In the case of Synthetix, a platform on which users can trade synthetic assets and commodities, including Brent Crude oil future, users can create these novel assets using the platform’s native synth token (SNX). The application has become a key component of decentralized finance (DeFi), with approximately $2.8 billion worth of crypto “locked.” Related: Celsius Network, Argo Blockchain Back Pre-Seed Round for Bitcoin Mining Startup “We’re excited about supporting the synthetixDAO as it builds the leading synthetic asset platform,” Arjun Balaji, Paradigm investment partner, said in a press release. “Synthetix has one of the best communities in crypto and we’re glad to be a part of it.” There is some debate about the role of venture capital in DeFi, with some commentators believing these firms could have a distorting effect on what are thought to be open, public protocols. This view came to a head this summer, with the rise of the self-stylized community-driven SushiSwap protocol, a fork of the VC-backed Uniswap. See also: Fishy Business: What Happened to $1.2B DeFi Protocol SushiSwap Over the Weekend Uniswap founder Hayden Adams spoke recently on the “mutually beneficial experience” between venture capital and DeFi denying claims that Uniswap’s backers were “extractive.” Related: Russian Mobile Operators Eye Payments Services, Wallets for Digital Ruble Story continues In addition to providing liquidity for the protocol, the VCs will reportedly assist Synthetix recruit talent and plan for its next upgrade. Cointelegraph first reported the news. SNX is down approximately 4% on the day and 10% from a local high, according to Messari. Related Stories Coinbase Ventures, Paradigm Invest $12M in Synthetix DeFi Platform Coinbase Ventures, Paradigm Invest $12M in Synthetix DeFi Platform \|\| Coinbase Ventures, Paradigm Invest $12M in Synthetix DeFi Platform: Decentralized trading platform Synthetix has raised $12 million from venture capital firms Coinbase Ventures, Paradigm and IOSG. The raise looks to be a rare occurrence of VCs investing through the purchase of a platform’s native token directly from its treasury rather than wiring funds to its founders. Synthetix is run by a DAO, or a decentralized automatic organization, a way for a project to govern itself without a traditional corporate structure. Token holders are typically encouraged to vote on the direction the DAO will take. In the case of Synthetix, a platform on which users can tradesynthetic assetsand commodities, includingBrent Crudeoil future, users can create these novel assets using the platform’s native synth token (SNX). The application has become a key component of decentralized finance (DeFi), with approximately $2.8 billion worth of crypto “locked.” Related:Celsius Network, Argo Blockchain Back Pre-Seed Round for Bitcoin Mining Startup “We’re excited about supporting the synthetixDAO as it builds the leading synthetic asset platform,” Arjun Balaji, Paradigm investment partner, said in a press release. “Synthetix has one of the best communities in crypto and we’re glad to be a part of it.” There is some debate about the role of venture capital in DeFi, with some commentators believing these firms could have a distorting effect on what are thought to be open, public protocols. This view came to a head this summer, with the rise of the self-stylized community-driven SushiSwap protocol, a fork of the VC-backed Uniswap. See also:Fishy Business: What Happened to $1.2B DeFi Protocol SushiSwap Over the Weekend Uniswap founder Hayden Adamsspoke recentlyon the “mutually beneficial experience” between venture capital and DeFi denying claims that Uniswap’s backers were “extractive.” Related:Russian Mobile Operators Eye Payments Services, Wallets for Digital Ruble In addition to providing liquidity for the protocol, the VCs will reportedly assist Synthetix recruit talent and plan for its next upgrade. Cointelegraph firstreportedthe news. SNX is down approximately 4% on the day and 10% from a local high, according to Messari. • Coinbase Ventures, Paradigm Invest $12M in Synthetix DeFi Platform • Coinbase Ventures, Paradigm Invest $12M in Synthetix DeFi Platform \|\| Bitcoin approaches $50,000, wider adoption fuels record rally: (Reuters) - Bitcoin hit a new record high and approached $50,000 on Sunday, building on its record rally as Wall Street and Main Street increasingly adopt the world's biggest cryptocurrency. Bitcoin recently stood at $48,700 on Sunday morning, up more than 3%. It had traded as high as $49,714 earlier in the day. The cryptocurrency is up almost 70% year to date. After long being shunned by traditional financial firms, bitcoin and other virtual currencies appear to be increasingly entering the mainstream as an asset and routine payment vehicle. BNY Mellon said last week it formed a new unit to help clients hold, transfer and issue digital assets, just days after Elon Musk's Tesla revealed it had bought $1.5 billion worth of the cryptocurrency and would soon accept it as a form of payment for its cars. On Friday, Canada's Ontario Securities Commission approved the launch of Purpose Bitcoin ETF, Toronto-based asset management company Purpose Investments Inc said in a statement. The OSC confirmed it had cleared the launch of the world's first bitcoin exchange-traded fund, in a separate statement to Reuters. “The institutional side and corporate America is showing that this movement is not going away anytime soon,” said Edward Moya, senior market strategist at OANDA. “There’s still a raft of big money that’s going to jump onto this bandwagon.” Mayor Francis Suarez of Miami also said on Friday the Florida city is seeking to embrace bitcoin in its operations, a move that could bring dividends in terms of attracting technology companies. In January, BlackRock Inc, the world's largest asset manager, added bitcoin as an eligible investment to two funds. Credit card giant Mastercard's plans to offer support for some cryptocurrencies also boosted bitcoin's ambitions towards mainstream finance, though many banks remain reluctant to engage with it. Cryptocurrency miner Riot Blockchain rose 14% on Friday and hit its highest in over 10 years with a weekly gain of 110%, its biggest weekly gain since 2017. Digital asset tech company Marathon Patent Group showed a weekly gain of over 70%. (Reporting by Fergal Smith in Toronto, David Randall in New York; Julien Ponthus in London, Karen Pierog in Chicago; Additional reporting by Ira Iosebashvili; Writing by Alden Bentley; Editing by Ira Iosebashvili and Lisa Shumaker) \|\| Bitcoin approaches $50,000, wider adoption fuels record rally: (Reuters) - Bitcoin hit a new record high and approached $50,000 on Sunday, building on its record rally as Wall Street and Main Street increasingly adopt the world's biggest cryptocurrency. Bitcoin recently stood at $48,700 on Sunday morning, up more than 3%. It had traded as high as $49,714 earlier in the day. The cryptocurrency is up almost 70% year to date. After long being shunned by traditional financial firms, bitcoin and other virtual currencies appear to be increasingly entering the mainstream as an asset and routine payment vehicle. BNY Mellon said last week it formed a new unit to help clients hold, transfer and issue digital assets, just days after Elon Musk's Tesla revealed it had bought $1.5 billion worth of the cryptocurrency and would soon accept it as a form of payment for its cars. On Friday, Canada's Ontario Securities Commission approved the launch of Purpose Bitcoin ETF, Toronto-based asset management company Purpose Investments Inc said in a statement. The OSC confirmed it had cleared the launch of the world's first bitcoin exchange-traded fund, in a separate statement to Reuters. “The institutional side and corporate America is showing that this movement is not going away anytime soon,” said Edward Moya, senior market strategist at OANDA. “There’s still a raft of big money that’s going to jump onto this bandwagon.” Mayor Francis Suarez of Miami also said on Friday the Florida city is seeking to embrace bitcoin in its operations, a move that could bring dividends in terms of attracting technology companies. In January, BlackRock Inc, the world's largest asset manager, added bitcoin as an eligible investment to two funds. Credit card giant Mastercard's plans to offer support for some cryptocurrencies also boosted bitcoin's ambitions towards mainstream finance, though many banks remain reluctant to engage with it. Cryptocurrency miner Riot Blockchain rose 14% on Friday and hit its highest in over 10 years with a weekly gain of 110%, its biggest weekly gain since 2017. Digital asset tech company Marathon Patent Group showed a weekly gain of over 70%. (Reporting by Fergal Smith in Toronto, David Randall in New York; Julien Ponthus in London, Karen Pierog in Chicago; Additional reporting by Ira Iosebashvili; Writing by Alden Bentley; Editing by Ira Iosebashvili and Lisa Shumaker) \|\| Bitcoin approaches $50,000, wider adoption fuels record rally: (Reuters) - Bitcoin hit a new record high and approached $50,000 on Sunday, building on its record rally as Wall Street and Main Street increasingly adopt the world's biggest cryptocurrency. Bitcoin recently stood at $48,700 on Sunday morning, up more than 3%. It had traded as high as $49,714 earlier in the day. The cryptocurrency is up almost 70% year to date. After long being shunned by traditional financial firms, bitcoin and other virtual currencies appear to be increasingly entering the mainstream as an asset and routine payment vehicle. BNY Mellon said last week it formed a new unit to help clients hold, transfer and issue digital assets, just days after Elon Musk's Tesla revealed it had bought $1.5 billion worth of the cryptocurrency and would soon accept it as a form of payment for its cars. On Friday, Canada's Ontario Securities Commission approved the launch of Purpose Bitcoin ETF, Toronto-based asset management company Purpose Investments Inc said in a statement. The OSC confirmed it had cleared the launch of the world's first bitcoin exchange-traded fund, in a separate statement to Reuters. The institutional side and corporate America is showing that this movement is not going away anytime soon, said Edward Moya, senior market strategist at OANDA. Theres still a raft of big money thats going to jump onto this bandwagon. Mayor Francis Suarez of Miami also said on Friday the Florida city is seeking to embrace bitcoin in its operations, a move that could bring dividends in terms of attracting technology companies. In January, BlackRock Inc, the world's largest asset manager, added bitcoin as an eligible investment to two funds. Credit card giant Mastercard's plans to offer support for some cryptocurrencies also boosted bitcoin's ambitions towards mainstream finance, though many banks remain reluctant to engage with it. Cryptocurrency miner Riot Blockchain rose 14% on Friday and hit its highest in over 10 years with a weekly gain of 110%, its biggest weekly gain since 2017. Digital asset tech company Marathon Patent Group showed a weekly gain of over 70%. (Reporting by Fergal Smith in Toronto, David Randall in New York; Julien Ponthus in London, Karen Pierog in Chicago; Additional reporting by Ira Iosebashvili; Writing by Alden Bentley; Editing by Ira Iosebashvili and Lisa Shumaker) View comments \|\| Tony Zhang's Options Strategy For NVIDIA: On CNBC's "Options Action," Tony Zhang suggested that investors should consider a bullish options strategy in NVIDIA Corporation (NASDAQ: NVDA ) ahead of earnings, scheduled for February 24. He sees significant upside potential for the stock as it started breaking out on the upside last week. The price of Bitcoin could have a positive impact on demand for NVIDIA's GPU chips, and Zhang also sees some potential in its cloud computing segment. Zhang wants to exploit elevated implied volatility in NVIDIA and sell the March $590/$550 put spread for a net credit of $15.55. The trade starts to lose money below $574.45, and it can make a maximal loss of $24.45. Zhang decided to use this strategy because he wants to make money even if the stock retests its support level, instead of trading higher. See more from Benzinga Click here for options trades from Benzinga Cramer Gives His Opinion On Zoom, AbbVie And More © 2021 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. [Social Media Buzz] None available.	49199.87, 52149.01, 51679.80, 55888.13, 56099.52, 57539.95, 54207.32, 48824.43, 49705.33, 47093.85
Given the historical Bitcoin prices from the last 90 days, predict the next 10 daily closing prices. The historical prices are: 1347.89, 1421.60, 1452.82, 1490.09, 1537.67, 1555.45, 1578.80, 1596.71, 1723.35, 1755.36, 1787.13, 1848.57, 1724.24, 1804.91, 1808.91, 1738.43, 1734.45, 1839.09, 1888.65, 1987.71, 2084.73, 2041.20, 2173.40, 2320.42, 2443.64, 2304.98, 2202.42, 2038.87, 2155.80, 2255.61, 2175.47, 2286.41, 2407.88, 2488.55, 2515.35, 2511.81, 2686.81, 2863.20, 2732.16, 2805.62, 2823.81, 2947.71, 2958.11, 2659.63, 2717.02, 2506.37, 2464.58, 2518.56, 2655.88, 2548.29, 2589.60, 2721.79, 2689.10, 2705.41, 2744.91, 2608.72, 2589.41, 2478.45, 2552.45, 2574.79, 2539.32, 2480.84, 2434.55, 2506.47, 2564.06, 2601.64, 2601.99, 2608.56, 2518.66, 2571.34, 2518.44, 2372.56, 2337.79, 2398.84, 2357.90, 2233.34, 1998.86, 1929.82, 2228.41, 2318.88, 2273.43, 2817.60, 2667.76, 2810.12, 2730.40, 2754.86, 2576.48, 2529.45, 2671.78, 2809.01.	[Bitcoin Technical Analysis for 2017-07-28] Volume: 1380099968, RSI (14-day): 58.79, 50-day EMA: 2463.61, 200-day EMA: 1814.34 [Wider Market Context] Gold Price: 1268.40, Gold RSI: 66.19 Oil Price: 49.71, Oil RSI: 67.12 [Recent News (last 7 days)] Floyd Mayweather says he's gonna make a 's--- ton of money' from an initial coin offering: (Floyd MayweatherChris Carlson/AP) Boxing champ Floyd Mayweather has caught the cryptocurrency bug. On Thursday, the undefeated world champion took to Instagram to promote an initial coin offering byStox,a blockchain prediction company. The ICO will take place on August 2. According to Mayweather's Instagram post, the boxer thinks he's going to make a "s--- ton of money" from the capital raise. Here's a tweet of the post: Initial coin offering participants invest money and receive digital "tokens" in return. Thus far, ICOs have been largely unregulated, with some crowdfunding events raising hundreds of millions of dollars. In total, ICOs have raised $1.37 billion, according to Lex Sokolin, a partner at Autonomous NEXT, a fintech analytics firm. On Tuesday,the SEC saidthat initial coin offerings (ICOs), in some cases, can be considered securities; and as such will be required to subscribe to the necessary regulations. Mayweather might need that extra money from the ICO. According to an ESPN report, much of Mayweather's wealth is tied up in assets and not liquid. This prevented him from being able to pay back atax liability of $22.2 millionto the IRS. "Although the taxpayer has substantial assets, those assets are restricted and primarily illiquid,"Darren Rovell of ESPN said in a recent article, citing Law360. "The taxpayer has a significant liquidity event scheduled in about 60 days from which he intends to pay the balance of the 2015 tax liability due and outstanding." NOW WATCH:Harvard Business School professor explains the most important problem we have in finance today and how to fix it More From Business Insider • Jeff Bezos is now the world's richest person — and he could redefine philanthropy • 5 great tech brands you’ve probably never heard of • Here's why Bitcoin is rebounding \|\| Floyd Mayweather says he's gonna make a 's--- ton of money' from an initial coin offering: Floyd Mayweather (Floyd MayweatherChris Carlson/AP) Boxing champ Floyd Mayweather has caught the cryptocurrency bug. On Thursday, the undefeated world champion took to Instagram to promote an initial coin offering by Stox, a blockchain prediction company. The ICO will take place on August 2. According to Mayweather's Instagram post, the boxer thinks he's going to make a "s--- ton of money" from the capital raise. Here's a tweet of the post: He just posted that people. Floyd Mayweather is going all in on ICOs. 😭🤦‍♂️🤣 $ETH.X $BTC.X https://t.co/XpEmJpaANw pic.twitter.com/YNJI1JVmEK — StockTwits (@StockTwits) July 27, 2017 Initial coin offering participants invest money and receive digital "tokens" in return. Thus far, ICOs have been largely unregulated, with some crowdfunding events raising hundreds of millions of dollars. In total, ICOs have raised $1.37 billion, according to Lex Sokolin, a partner at Autonomous NEXT, a fintech analytics firm. On Tuesday, the SEC said that initial coin offerings (ICOs), in some cases, can be considered securities; and as such will be required to subscribe to the necessary regulations. Mayweather might need that extra money from the ICO. According to an ESPN report, much of Mayweather's wealth is tied up in assets and not liquid. This prevented him from being able to pay back a tax liability of $22.2 million to the IRS. "Although the taxpayer has substantial assets, those assets are restricted and primarily illiquid," Darren Rovell of ESPN said in a recent article, citing Law360 . "The taxpayer has a significant liquidity event scheduled in about 60 days from which he intends to pay the balance of the 2015 tax liability due and outstanding." Story continues NOW WATCH: Harvard Business School professor explains the most important problem we have in finance today and how to fix it More From Business Insider Jeff Bezos is now the world's richest person — and he could redefine philanthropy 5 great tech brands you’ve probably never heard of Here's why Bitcoin is rebounding \|\| Dance The Roomba: iRobot's Sterling Second Quarter Has Pro Bullish On Domestic Robot Space: iRobot Corporation (NASDAQ: IRBT )'s stellar second quarter makes Loup Ventures' Andrew Murphy more bullish on a market that includes robots that clean your floors and cut your lawn. Revenue for the second quarter of 2017 was $183.1 million, compared with $148.7 million for the second quarter of 2016. Revenue for the first half of 2017 was $351.6 million, compared with $279.5 million last year. “We believe the domestic robot market, which includes robotic vacuums, mops, and lawnmowers, is one of the most promising sub-categories within the robotics space.” Murphy wrote in a note. View more earnings on IRBT He said iRobot’s results leads to these takeaways: Legacy Vacuum Companies Not A Big Threat “It’s easier for a robotics company to build a vacuum than it is for a vacuum company to build a robot,” he wrote. “Although a Roomba vacuum cleaner may look simplistic on the outside, the advanced software programming, computer vision systems and engineering acumen that goes into developing a high-performing robot is difficult to replicate.” Related Link: Cornell’s Eccentric Robot Genius Gets Ideas From Infant Daughter The Market Is Bigger Than Anybody Thought “iRobot’s total robot revenues increased 24.2% y/y and the company raised full year 2017 guidance, which now implies 25.0% y/y growth in their robot business.” It’s Not Just Vacuums IRobots wet floor mops were up 80 percent. “And domestic robots is just the beginning of the much larger connected home theme.” Domestic Robots Are A Global Trend “While iRobot saw the strongest growth for robots domestically, the company is also upbeat about the growth they are seeing internationally.” ________ Image Credit: By Nohau - Own work, CC BY-SA 3.0, via Wikimedia Commons Latest Ratings for IRBT Jul 2017 Downgrades Buy Neutral May 2017 Canaccord Genuity Downgrades Buy Hold Nov 2016 Dougherty Initiates Coverage On Buy View More Analyst Ratings for IRBT View the Latest Analyst Ratings Story continues See more from Benzinga Stay Tuned For Facebook TV: Ad Sales Will Fund Big Bet On Video Feds Bust Reputed Bitcoin Baron In Billion Scheme To Launder Drug Money, Ransomware, Bribes And Identity Theft Scams The Athletic's New Model For Local Sports Writing: If You Build It, Will They Buy It? © 2017 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. \|\| Dance The Roomba: iRobot's Sterling Second Quarter Has Pro Bullish On Domestic Robot Space: iRobot Corporation(NASDAQ:IRBT)'s stellar second quarter makes Loup Ventures' Andrew Murphy more bullish on a market that includes robots that clean your floors and cut your lawn. Revenue for the second quarter of 2017 was $183.1 million, compared with $148.7 million for the second quarter of 2016. Revenue for the first half of 2017 was $351.6 million, compared with $279.5 million last year. “We believe the domestic robot market, which includes robotic vacuums, mops, and lawnmowers, is one of the most promising sub-categories within the robotics space.” Murphy wrote in a note. View more earnings on IRBT He said iRobot’s results leads to these takeaways: Legacy Vacuum Companies Not A Big Threat “It’s easier for a robotics company to build a vacuum than it is for a vacuum company to build a robot,” he wrote. “Although a Roomba vacuum cleaner may look simplistic on the outside, the advanced software programming, computer vision systems and engineering acumen that goes into developing a high-performing robot is difficult to replicate.” Related Link:Cornell’s Eccentric Robot Genius Gets Ideas From Infant Daughter The Market Is Bigger Than Anybody Thought “iRobot’s total robot revenues increased 24.2% y/y and the company raised full year 2017 guidance, which now implies 25.0% y/y growth in their robot business.” It’s Not Just Vacuums IRobots wet floor mops were up 80 percent. “And domestic robots is just the beginning of the much larger connected home theme.” Domestic Robots Are A Global Trend “While iRobot saw the strongest growth for robots domestically, the company is also upbeat about the growth they are seeing internationally.” ________ Image Credit: By Nohau - Own work, CC BY-SA 3.0,via Wikimedia Commons Latest Ratings for IRBT [{"Jul 2017": "May 2017", "": "Canaccord Genuity", "Downgrades": "Downgrades", "Buy": "Buy", "Neutral": "Hold"}, {"Jul 2017": "Nov 2016", "": "Dougherty", "Downgrades": "Initiates Coverage On", "Buy": "", "Neutral": "Buy"}] View More Analyst Ratings for IRBTView the Latest Analyst Ratings See more from Benzinga • Stay Tuned For Facebook TV: Ad Sales Will Fund Big Bet On Video • Feds Bust Reputed Bitcoin Baron In Billion Scheme To Launder Drug Money, Ransomware, Bribes And Identity Theft Scams • The Athletic's New Model For Local Sports Writing: If You Build It, Will They Buy It? © 2017 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. \|\| Here's why some Americans are risking their life savings on a Bitcoin IRA: Investors have been bullish on bitcoin all this year because of its rapid appreciation, but now, mom and pop buyers are also looking for a way to benefit from its price surge, despite the big risks. BitcoinIRA launched in May of 2016 , offering investors the tax-advantage of an Individual Retirement Account (IRA), plus the return of a high-risk, high-reward alternative asset class. It's similar in nature to other IRAs, except that instead of being funded by gold, cash, and bonds, it's backed by bitcoin. And the company isn't just dealing in bitcoin anymore. As of April, it now includes rival cryptocurrency ether, and it plans to add two more coins to its roster by the end of the summer. Chief Operating Officer Chris Kline says business couldn't be better. In its first year, he says BitcoinIRA was averaging around a million dollars of monthly inflows. In the last six months, they started doing that amount of business in a single day, he says. (CNBC did not independently verify the flows.) The popular cryptocurrency, bitcoin, may be highly volatile, but that didn't deter early adopter Roy Trimboli. Roy calls himself '11,' since he's the proud owner of the eleventh-ever BitcoinIRA. He says he's been a conventional guy since 22, always maxing out his 401(k) and investing in blue chip mutual funds, but a year ago, he put 10 bitcoins into a BitcoinIRA. He says he's now up about 300 percent. "It's a couple of generations worth of returns," he says. '11' is now just one of over 700 individual account holders, including clients as young as 20-years-old. But even with these kinds of returns, the fact remains, a speculative asset like bitcoin or ether comes with a certain degree of risk. Cryptocurrencies don't sleep. They're literally always moving, and if recent history is any indication, they're prone to seismic price moves in a very short space of time. Campbell Harvey, a finance professor at Duke University, says this kind of volatility is brutal. "We're talking six times the volatility of the S&P 500 or five times the volatility of gold." He says it has to do with the fact that this is new technology, "and it's not easy to think about the fundamental value of a cryptocurrency." Story continues That brutal volatility he's talking about is partly to do with the fact that these cryptocurrencies aren't collateralized. They're valuable, because people believe they're valuable. That's a big part of why Campbell says he's really worried about the BitcoinIRA. "I'm worried that people will put too much of their retirement in an asset like this. It's a very small piece of the market right now and it's extremely volatile. To put this into your savings, you need to be willing to lose everything. If you put your retirement savings into the stock market, there is almost no chance that you're going to lose everything." Risk aside, a BitcoinIRA itself isn't free. If you sink any less than $50,000 into your crypto nest egg, you'll face a hefty 15 percent set-up fee. But clients like Damon Smedley remain undeterred. He invested $330,000 into his BitcoinIRA last November. "You look at where I was one year ago, versus where I'm at today, and it's quite a drastic difference," Smedley said. It's not just the promise of a crazy return that's intrigued savers, it's also the fact that it's a hedge against the inflationary tendencies of mainstream currencies. Central banks in countries around the world have been printing cash to prop up their struggling economies, but that goes hand in hand with inflation. In the U.S., gold, stocks, and bonds have long been the traditional hedge against inflation and the rising dollar. But now, bitcoin and ethereum offer an alternative way to beat inflation, though it's clearly not for the faint of heart. One thing is for sure, despite its volatility, this new cryptocurrency asset class isn't going anywhere. More From CNBC Terror to end bitcoin anonymity? 'Smart' people and Panama Papers Bitcoin mining IPO falls short \|\| Here's why some Americans are risking their life savings on a Bitcoin IRA: Investors have been bullish on bitcoin all this year because of its rapid appreciation, but now, mom and pop buyers are also looking for a way to benefit from its price surge, despite the big risks.BitcoinIRAlaunched in May of 2016, offering investors the tax-advantage of an Individual Retirement Account (IRA), plus the return of a high-risk, high-reward alternative asset class. It's similar in nature to other IRAs, except that instead of being funded by gold, cash, and bonds, it's backed by bitcoin. And the company isn't just dealing in bitcoin anymore. As of April, it now includes rival cryptocurrency ether, and it plans to add two more coins to its roster by the end of the summer. Chief Operating Officer Chris Kline says business couldn't be better. In its first year, he says BitcoinIRA was averaging around a million dollars of monthly inflows. In the last six months, they started doing that amount of business in a single day, he says. (CNBC did not independently verify the flows.) The popular cryptocurrency, bitcoin, may be highly volatile, but that didn't deter early adopter Roy Trimboli.Roy calls himself '11,' since he's the proud owner of the eleventh-ever BitcoinIRA. He says he's been a conventional guy since 22, always maxing out his 401(k) and investing in blue chip mutual funds, but a year ago, he put 10 bitcoins into a BitcoinIRA. He says he's now up about 300 percent. "It's a couple of generations worth of returns," he says. '11' is now just one of over 700 individual account holders, including clients as young as 20-years-old. But even with these kinds of returns, the fact remains, a speculative asset like bitcoin or ether comes with a certain degree of risk. Cryptocurrencies don't sleep. They're literally always moving, and if recent history is any indication, they're prone to seismic price moves in a very short space of time. Campbell Harvey, a finance professor at Duke University, says this kind of volatility is brutal. "We're talking six times the volatility of the S&P 500 or five times the volatility of gold." He says it has to do with the fact that this is new technology, "and it's not easy to think about the fundamental value of a cryptocurrency." That brutal volatility he's talking about is partly to do with the fact that these cryptocurrencies aren't collateralized. They're valuable, because people believe they're valuable. That's a big part of why Campbell says he's really worried about the BitcoinIRA. "I'm worried that people will put too much of their retirement in an asset like this. It's a very small piece of the market right now and it's extremely volatile. To put this into your savings, you need to be willing to lose everything. If you put your retirement savings into the stock market, there is almost no chance that you're going to lose everything." Risk aside, a BitcoinIRA itself isn't free. If you sink any less than $50,000 into your crypto nest egg, you'll face a hefty 15 percent set-up fee. But clients like Damon Smedley remain undeterred. He invested $330,000 into his BitcoinIRA last November. "You look at where I was one year ago, versus where I'm at today, and it's quite a drastic difference," Smedley said. It's not just the promise of a crazy return that's intrigued savers, it's also the fact that it's a hedge against the inflationary tendencies of mainstream currencies. Central banks in countries around the world have been printing cash to prop up their struggling economies, but that goes hand in hand with inflation. In the U.S., gold, stocks, and bonds have long been the traditional hedge against inflation and the rising dollar. But now, bitcoin and ethereum offer an alternative way to beat inflation, though it's clearly not for the faint of heart. One thing is for sure, despite its volatility, this new cryptocurrency asset class isn't going anywhere. More From CNBC • Terror to end bitcoin anonymity? • 'Smart' people and Panama Papers • Bitcoin mining IPO falls short \|\| Here's why some Americans are risking their life savings on a Bitcoin IRA: Investors have been bullish on bitcoin all this year because of its rapid appreciation, but now, mom and pop buyers are also looking for a way to benefit from its price surge, despite the big risks.BitcoinIRAlaunched in May of 2016, offering investors the tax-advantage of an Individual Retirement Account (IRA), plus the return of a high-risk, high-reward alternative asset class. It's similar in nature to other IRAs, except that instead of being funded by gold, cash, and bonds, it's backed by bitcoin. And the company isn't just dealing in bitcoin anymore. As of April, it now includes rival cryptocurrency ether, and it plans to add two more coins to its roster by the end of the summer. Chief Operating Officer Chris Kline says business couldn't be better. In its first year, he says BitcoinIRA was averaging around a million dollars of monthly inflows. In the last six months, they started doing that amount of business in a single day, he says. (CNBC did not independently verify the flows.) The popular cryptocurrency, bitcoin, may be highly volatile, but that didn't deter early adopter Roy Trimboli.Roy calls himself '11,' since he's the proud owner of the eleventh-ever BitcoinIRA. He says he's been a conventional guy since 22, always maxing out his 401(k) and investing in blue chip mutual funds, but a year ago, he put 10 bitcoins into a BitcoinIRA. He says he's now up about 300 percent. "It's a couple of generations worth of returns," he says. '11' is now just one of over 700 individual account holders, including clients as young as 20-years-old. But even with these kinds of returns, the fact remains, a speculative asset like bitcoin or ether comes with a certain degree of risk. Cryptocurrencies don't sleep. They're literally always moving, and if recent history is any indication, they're prone to seismic price moves in a very short space of time. Campbell Harvey, a finance professor at Duke University, says this kind of volatility is brutal. "We're talking six times the volatility of the S&P 500 or five times the volatility of gold." He says it has to do with the fact that this is new technology, "and it's not easy to think about the fundamental value of a cryptocurrency." That brutal volatility he's talking about is partly to do with the fact that these cryptocurrencies aren't collateralized. They're valuable, because people believe they're valuable. That's a big part of why Campbell says he's really worried about the BitcoinIRA. "I'm worried that people will put too much of their retirement in an asset like this. It's a very small piece of the market right now and it's extremely volatile. To put this into your savings, you need to be willing to lose everything. If you put your retirement savings into the stock market, there is almost no chance that you're going to lose everything." Risk aside, a BitcoinIRA itself isn't free. If you sink any less than $50,000 into your crypto nest egg, you'll face a hefty 15 percent set-up fee. But clients like Damon Smedley remain undeterred. He invested $330,000 into his BitcoinIRA last November. "You look at where I was one year ago, versus where I'm at today, and it's quite a drastic difference," Smedley said. It's not just the promise of a crazy return that's intrigued savers, it's also the fact that it's a hedge against the inflationary tendencies of mainstream currencies. Central banks in countries around the world have been printing cash to prop up their struggling economies, but that goes hand in hand with inflation. In the U.S., gold, stocks, and bonds have long been the traditional hedge against inflation and the rising dollar. But now, bitcoin and ethereum offer an alternative way to beat inflation, though it's clearly not for the faint of heart. One thing is for sure, despite its volatility, this new cryptocurrency asset class isn't going anywhere. More From CNBC • Terror to end bitcoin anonymity? • 'Smart' people and Panama Papers • Bitcoin mining IPO falls short \|\| Billionaire investor Howard Marks says cryptocurrencies 'aren't real': (Oaktree Capital founder Howard MarksBloomberg) Howard Marks, billionaire investor and founder of Oaktree Capital Management is adamant about his stance on cryptocurrencies like bitcoin, Ether and others: “They’re not real.” Marks reiterated this three times to clients Wednesday in hislatest Oaktree memo. “I’d guess these things have arisen from the intersection of (a) doubts about financial security — including the value of national currencies — that grew out of the financial crisis an (b) the comfort felt by millennials regarding all things virtual,” writes Marks. “But they’re not real.” Marks has clearly done his homework. The 22-page letter is full of research notes and quotes from the New York Times, Wall Street Journal and others about blockchain-based currencies. But he’s still unconvinced that they hold any long-term promise. “Some people are eager to speculate on digital currency for profit,” he writes. “Others want to put a little money into these to-date-profitable phenomena rather than run the risk of missing out. But they’re not real!” It all comes down to optimism, says Marks. As soon as our current bull market takes a nosedive, bitcoin and ether speculators could take a big hit. “They’re likely to keep working as long as optimism is present,” writes Marks. “But their performance in bad times is far from dependable. What will happen to Bitcoin’s price and liquidity in a crisis if people decide they’d rather hold dollars (or gold)?” Marks isn’t the only old-school Wall Street player to be skeptical of digital currencies. Major bankslike Morgan Stanleyhave recognized bitcoin’s use as a value-holding asset, but are hesitant to call it a true currency. For people like Marks, Bitcoin has a steep learning curve. It’s not as simple as traditional fiat currency, with notes backed by a central bank and transferred through clearinghouses. Instead, bitcoin utilizes a blockchain, which can instantly credit and debit ledgers of parties involved in a transaction. It looks like Marks has some more reading to do to catch up. “Nobody has been able to make sense to me of these currencies,” he writes. NOW WATCH:Barclays strategist: You can expect a major department store to fail in the next 18 months More From Business Insider • Here's why Bitcoin is rebounding • Here's one way hackers can be stopped from stealing millions in an initial coin offering • Startups are enjoying a goldrush selling digital coins online — but can you tell the real one from the fakes? \|\| Billionaire investor Howard Marks says cryptocurrencies 'aren't real': howard marks (Oaktree Capital founder Howard MarksBloomberg) Howard Marks, billionaire investor and founder of Oaktree Capital Management is adamant about his stance on cryptocurrencies like bitcoin, Ether and others: Theyre not real. Marks reiterated this three times to clients Wednesday in his latest Oaktree memo . Id guess these things have arisen from the intersection of (a) doubts about financial security including the value of national currencies that grew out of the financial crisis an (b) the comfort felt by millennials regarding all things virtual, writes Marks. But theyre not real. Marks has clearly done his homework. The 22-page letter is full of research notes and quotes from the New York Times, Wall Street Journal and others about blockchain-based currencies. But hes still unconvinced that they hold any long-term promise. Some people are eager to speculate on digital currency for profit, he writes. Others want to put a little money into these to-date-profitable phenomena rather than run the risk of missing out. But theyre not real! It all comes down to optimism, says Marks. As soon as our current bull market takes a nosedive, bitcoin and ether speculators could take a big hit. Theyre likely to keep working as long as optimism is present, writes Marks. But their performance in bad times is far from dependable. What will happen to Bitcoins price and liquidity in a crisis if people decide theyd rather hold dollars (or gold)? Marks isnt the only old-school Wall Street player to be skeptical of digital currencies. Major banks like Morgan Stanley have recognized bitcoins use as a value-holding asset, but are hesitant to call it a true currency. For people like Marks, Bitcoin has a steep learning curve. Its not as simple as traditional fiat currency, with notes backed by a central bank and transferred through clearinghouses. Instead, bitcoin utilizes a blockchain, which can instantly credit and debit ledgers of parties involved in a transaction. It looks like Marks has some more reading to do to catch up. Nobody has been able to make sense to me of these currencies, he writes. NOW WATCH: Barclays strategist: You can expect a major department store to fail in the next 18 months More From Business Insider Here's why Bitcoin is rebounding Here's one way hackers can be stopped from stealing millions in an initial coin offering Startups are enjoying a goldrush selling digital coins online but can you tell the real one from the fakes? View comments \|\| Sequoia and Andreessen Horowitz Are Secretly Backing This Cryptocurrency Hedge Fund: It’s a hedge fund savvy enough to have scooped up Bitcoin when it was free. One of its founders is the well-known CEO of AngelList,Naval Ravikant. It’s backed by a roster of Silicon Valley’s top venture capital firms, and boasts returns of more than 500%. And you’ve probably never heard of it. Meet MetaStable Capital, a stealthy startup hedge fund based in San Francisco that invests only in cryptocurrencies such as Bitcoin and Ethereum. Since its launch in September 2014, MetaStable has delivered such eye-popping performance that it apparently lets the numbers mostly speak for themselves; it shuns publicity and never announced its recent fundraising round. Still,Fortunehas learned many of the details. In the spring, Andreessen Horowitz, Sequoia Capital, Union Square Ventures, Founders Fund and Bessemer Venture Partners all invested in MetaStable, according to several of the VCs and other people close to the fund. Notably, it’s only Sequoia’s second investment in a blockchain-related company in that venture capital firm’s 45-year history; the first was earlier this year, inPolychain Capital, in a $200 million round in which Andreessen, Union Square Ventures and Founders Fund also participated. In contrast to MetaStable, though, Polychain has been much more welcoming of press (its founder, Olaf Carlson-Wee, is on the cover ofForbes‘ latest issue). It also differs in its strategy: Whereas Polychain specializes in investing in other blockchain companies through what’s known as aninitial coin offering(or ICO)--an investment style that has been likened to venture capital--MetaStable invests directly in digital currencies that it believes could become a new form of money. Now, MetaStable owns about a dozen different cryptocurrencies, including Bitcoin (which one of the fund’s co-founders, Lucas Ryan, originally received for free in 2011), Ethereum, and Monero (of which the fund holds nearly 1%, or about $6 million worth, of all outstanding coins), according to a pitch deck seen byFortune. Josh Seims, MetaStable’s third co-founder, says the fund takes a value investing approach, “sort of what you imagine a Warren Buffett doing, but it's kind of oxymoronic to use these terms in the space because everything is so ephemeral.” An example in the pitch deck illustrates the fund’s skill in “Bitcoin crisis investing,” a Buffett-like concept of investing when others are fearful: When Bitfinex, a major cryptocurrency exchange, washacked last summer, the price of Bitcoin swiftly plunged more than 20% to under $550, and MetaStable took the opportunity to double its Bitcoin position within the next few hours. The price of Bitcoin has since more than quadrupled. Rather than try to time the market or buy into the newest blockchain trend, MetaStable looks closely at the real-world use cases of various digital currencies, and aims to make at least decade-long bets on the most “credible candidates,” Seims tellsFortune. “There’s a handful of, say between five and 10 of these major use cases that could be trillion-dollar blockchains,” he says. “It's all very long-term focused, and we think we're in super early days right now. It really comes down to which do we think is the strong enough technology, that we think can win.” (So far, MetaStable has also exhibited an edge in dodging some of the duds: It skippedThe Dao’s token offeringlast year, correctly predicting that it would be hacked; and also steered clear of the cryptocurrency Steem, which has largely turned out to be a flop.) Through mid-March, MetaStable’s flagship fund had returned 539% over its short lifetime, including 86% in the first two-and-a-half months of 2017 (a time period in which the Bitcoin price was up almost 28%). Since then, though, Bitcoin and Monero have each more than doubled; Ethereum, meanwhile, is worth more than five times what it was four months ago. (Year to date, the Ethereum price has risen more than 2,300%.) That means that MetaStable’s returns are actually much, much higher than the ones listed in its March presentation documents. A person close to the fund simply says it has “vastly outperformed Bitcoin;” that puts its 2017 returns at a minimum of 170% and likely far greater.Fortuneestimates that MetaStable’s returns since its inception now exceed 1,000%. One caveat is that the fund is likely relatively small by hedge fund standards, which makes it somewhat easier to post outsized return figures. Still, in the fledgling industry of cryptocurrency hedge funds, MetaStable appears to be one of the heavyweights. A recentForbesreport listed its assets at $45 million, but that was before the recentsurge in cryptocurrency pricesover the last few months. MetaStable’s portfolio more than doubled in value in May alone, according to a source close to the fund; on June 23, after aBitcoin and Ethereum price crash, the hedge fund reported total assets of $69 million in a regulatory filing. It’s not clear how much of those assets are venture capital dollars; typically, when VC firms invest in other funds (the startup accelerator Y Combinator, backed by Sequoia, is one prime example), they can choose to invest in the company itself (or “general partner”) or in the actual fund that company manages, or both. In the case of Polychain, for one, Union Square Venturessaid it backed the firm but also put some moneyinto the hedge fund. The abundance of capital is also enticing a slew of other cryptocurrency hedge funds to test the waters for themselves. According toHedge Fund Alert, there are at least 15 such funds already up and running, but as many as 25 more are in the works. Investors should expect similar restrictions and high fees as the ones that exist with traditional hedge funds: MetaStable requires a minimum investment of $1 million, and has a “2 and 20” structure for one of its funds, charging a management fee of 2% of assets, and a performance fee of 20% of the profits. A riskier fund has a 1.5% management fee and a 25% performance fee. See original article on Fortune.com More from Fortune.com • Microsoft Takes Another Step to Make Blockchain Friendly to Mere Mortals • 7 Cryptocurrency Predictions From the Experts • LedgerX Just Gave Us Another Way to Bet Against Bitcoin • A Bitcoin Visa Card? Not So Fast • Bitcoin Averts Split Into Two Currencies \|\| AMD stock soars 7% after strong guidance, earnings beat: Shares of Advanced Micro Devices (NASDAQ: AMD) soared after the company raised its outlook and reported earnings that topped expectations. The stock surged 7 percent in after-hours trading as more than 13 million shares changed hands on Tuesday. Here's how the company did compared to expectations, according to Thomson Reuters consensus estimates: EPS: 2 cents per share vs. break-even Revenue: $1.22 billion vs. $1.16 billion As strong as the company's second-quarter results were, tech analyst Patrick Moorhead said there may be more good news ahead for AMD. "AMD has a lot to look forward to as none of their actuals incorporates sales of EPYC server parts, only limited sales of the new Radeon Vega and none of the Ryzen notebook parts," Moorhead, founder and principal analyst of Moor Insights & Strategy, said. While expected, Moorhead said AMD's positive operating profit was "icing on the cake." AMD said it now expects third-quarter revenue to increase about 15 percent year over year. That figure implies third-quarter revenue of about $1.50 billion, easily besting analyst projections for about $1.39 billion, according to Thomson Reuters. The company said it also sees annual revenue growth in the mid to high-teens percentage, better than its previous expectation for revenue growth in the low teens. Wall Street previously projected full-year revenue growth of about 12.8 percent, according to a Thomson Reuters consensus estimate. AMD's optimistic revenue forecasts parallel AMD's expectation for a year-over-year decline in inventory for 2017. During its Tuesday earnings call, AMD said it's in the process of catching up with demand and is ramping up production to replenish its inventory. In June, the stock jumped after the company told CNBC that the dramatic rise in digital currency prices has driven demand for its graphics cards. At the time, major computer hardware retailers had sold out of AMD's recently launched RX 570 and RX 580 models. While Bitcoin prices have seen some recent turbulence , Bitcoin has still more than doubled in value for the year. Cryptocurrency miners use graphics cards from AMD and Nvidia (NASDAQ: NVDA) to "mine" new coins , which can then be sold or held for future appreciation. AMD traditionally has a better reputation for mining cryptocurrencies. During its earnings call, AMD said, however, that its still prioritizing its core gaming market. The company said it's continuing to watch developments in digital currencies. — CNBC's Evelyn Cheng and Tae Kim contributed to the report. Story continues More From CNBC Facebook's three-pronged plan to get businesses to use Messenger more Trump said Apple's Tim Cook 'promised' him he'd build three US factories Blue Apron co-founder steps aside amid post-IPO jitters View comments \|\| AMD stock soars 7% after strong guidance, earnings beat: Shares of Advanced Micro Devices(NASDAQ: AMD)soared after the company raised its outlook and reported earnings that topped expectations. The stock surged 7 percent in after-hours trading as more than 13 million shares changed hands on Tuesday. Here's how the company did compared to expectations, according to Thomson Reuters consensus estimates: • EPS: 2 cents per share vs. break-even • Revenue: $1.22 billion vs. $1.16 billion As strong as the company's second-quarter results were, tech analyst Patrick Moorhead said there may be more good news ahead for AMD. "AMD has a lot to look forward to as none of their actuals incorporates sales of EPYC server parts, only limited sales of the new Radeon Vega and none of the Ryzen notebook parts," Moorhead, founder and principal analyst of Moor Insights & Strategy, said. While expected, Moorhead said AMD's positive operating profit was "icing on the cake." AMD said it now expects third-quarter revenue to increase about 15 percent year over year. That figure implies third-quarter revenue of about $1.50 billion, easily besting analyst projections for about $1.39 billion, according to Thomson Reuters. The company said it also sees annual revenue growth in the mid to high-teens percentage, better than its previous expectation for revenue growth in the low teens. Wall Street previously projected full-year revenue growth of about 12.8 percent, according to a Thomson Reuters consensus estimate. AMD's optimistic revenue forecasts parallel AMD's expectation for a year-over-year decline in inventory for 2017. During its Tuesday earnings call, AMD said it's in the process of catching up with demand and is ramping up production to replenish its inventory. In June, the stock jumped after the company told CNBC that the dramatic rise indigital currency prices has driven demandfor its graphics cards. At the time, majorcomputer hardware retailers had sold outof AMD's recently launched RX 570 and RX 580 models. WhileBitcoin prices have seen some recent turbulence, Bitcoin has still more than doubled in value for the year. Cryptocurrency miners use graphics cards from AMD and Nvidia(NASDAQ: NVDA)to"mine" new coins, which can then be sold or held for future appreciation. AMD traditionally has a betterreputationfor mining cryptocurrencies. During its earnings call, AMD said, however, that its still prioritizing its core gaming market. The company said it's continuing to watch developments in digital currencies. — CNBC's Evelyn Cheng and Tae Kim contributed to the report. More From CNBC • Facebook's three-pronged plan to get businesses to use Messenger more • Trump said Apple's Tim Cook 'promised' him he'd build three US factories • Blue Apron co-founder steps aside amid post-IPO jitters \|\| AMD is slipping ahead of earnings: amd headquarters (The entrance to the Advanced Micro Devices Inc. (AMD) headquarters in Sunnyvale, California.AP Photo / Paul Sakuma) Wall Street is generally bullish ahead of AMD 's second-quarter earnings report on Tuesday, with most analysts rating the stock a neutral or buy, according to Bloomberg. However, shares are trading down about 0.5% at $14.12 a piece. Analysts are expecting earnings of $0.001 per share on revenue of $1.16 billion, according to data from Bloomberg. The company has beat on earnings estimates in the last seven quarters, topping estimates by an average of 106.82% over that period. For the first quarter , AMD lost $0.04 per share as revenue rose 18.3% year-over-year to $984 million. Higher demand for the company's low-cost Ryzen CPUs helped drive the growth, according to CEO Lisa Su. The company has been riding the wave of increased demand for its graphics processing units due to the rising popularity of cryptocurrency mining . Ethereum and Bitcoin have been in the headlines with their explosive growth this year. AMD has sold out of its GPUs at several points this year because cryptocurrency enthusiasts are buying all the cards they can to better their machines and grab a larger share of the growing currencies. AMD is facing steep competition from its main rival Nvidia. Its rival is not only taking over traditional GPU businesses like data center acceleration, but is also placing its highest performing chips in the hands of top researchers and car companies, sometimes for free in a move to outpace the competition. Millennials, who have been one of the most bullish groups, are selling AMD shares ahead of its earnings. According to data from Robinhood about users of its app, millennial investors are selling the stock 7% more frequently than they are buying it . AMD is up 24.49% this year. Click here to watch AMD's stock price live... amd stock price (Markets Insider) NOW WATCH: An economist explains the key issues that Trump needs to address to boost the economy More From Business Insider 22 awesome and weird things we bought using Amazon Prime 11 accessories that’ll help you get more out of your MacBook This might be our new favorite commuter backpack \|\| AMD is slipping ahead of earnings: amd headquarters (The entrance to the Advanced Micro Devices Inc. (AMD) headquarters in Sunnyvale, California.AP Photo / Paul Sakuma) Wall Street is generally bullish ahead of AMD 's second-quarter earnings report on Tuesday, with most analysts rating the stock a neutral or buy, according to Bloomberg. However, shares are trading down about 0.5% at $14.12 a piece. Analysts are expecting earnings of $0.001 per share on revenue of $1.16 billion, according to data from Bloomberg. The company has beat on earnings estimates in the last seven quarters, topping estimates by an average of 106.82% over that period. For the first quarter , AMD lost $0.04 per share as revenue rose 18.3% year-over-year to $984 million. Higher demand for the company's low-cost Ryzen CPUs helped drive the growth, according to CEO Lisa Su. The company has been riding the wave of increased demand for its graphics processing units due to the rising popularity of cryptocurrency mining . Ethereum and Bitcoin have been in the headlines with their explosive growth this year. AMD has sold out of its GPUs at several points this year because cryptocurrency enthusiasts are buying all the cards they can to better their machines and grab a larger share of the growing currencies. AMD is facing steep competition from its main rival Nvidia. Its rival is not only taking over traditional GPU businesses like data center acceleration, but is also placing its highest performing chips in the hands of top researchers and car companies, sometimes for free in a move to outpace the competition. Millennials, who have been one of the most bullish groups, are selling AMD shares ahead of its earnings. According to data from Robinhood about users of its app, millennial investors are selling the stock 7% more frequently than they are buying it . AMD is up 24.49% this year. Click here to watch AMD's stock price live... amd stock price (Markets Insider) NOW WATCH: An economist explains the key issues that Trump needs to address to boost the economy More From Business Insider 22 awesome and weird things we bought using Amazon Prime 11 accessories that’ll help you get more out of your MacBook This might be our new favorite commuter backpack \|\| The big business revolution: why the future is blockchain: Shutterstock The value of one bitcoin recently hit a record high of US$3,025, a staggering rise of over 200% in value this year alone. Aswath Damodaran, professor of finance at the New York University, known as Wall Streets dean of valuation, has said that among the younger generation, digital currencies have replaced gold as a choice of investment and that, sooner or later, currencies such as bitcoin and ethereum will compete against nation-state paper currencies. So could bitcoin become a popular currency and decrease the popularity of euros, dollars, pounds, roubles and others? For anything to be seen as money it needs to meet three functions a store of value , a measure of value and a medium of exchange . Bitcoins volatility shows that it is an infant in meeting these three criteria, but has the potential to do so. However, digital currencies like bitcoin are just one application of the blockchain technology that makes them possible. Blockchain, as the BBC explains , is: a method of recording data a digital ledger of transactions, agreements, contracts anything that needs to be independently recorded and verified as having happened. The big difference is that this ledger isnt stored in one place, its distributed across several, hundreds or even thousands of computers around the world. And everyone in the network can have access to an up-to-date version of the ledger, so its very transparent. Blockchain combines the security of cryptography , the storage and transmission of data in coded form, with peer-to-peer networks to create a shared database of transactions that is trusted, yet controlled by no one. If blockchain finds uses in various industries we could see a more digitally integrated global economy, something that could enhance economic growth and decrease poverty. Blockchain technology could make economic transactions around the world more transparent and secure. Shutterstock Huge potential In business today, we still require trusted administrators to manage and record the numbers and databases auditors, supervisory boards and so on. The potential of blockchain is that it offers the chance to distribute these digital ledgers to others through a network of computers across the world. It could actually dispense with those businesses that are based on trusted relationships such as banking, auditing, solicitors, even aspects of government. For example in Sweden, Georgia and Ukraine property registers are being moved on to the blockchain. Story continues In finance, people rarely lend directly to each other, hence the need for banks as trusted go-betweens. The beauty of cryptocurrencies such as bitcoin or ethereum is that they remove the need for the trusted third party, using instead an encrypted, secure database. This has huge implications for any business that requires the verification of payments and performance of contracts that is, most businesses. The beauty of blockchain is that something can be unique and stored digitally with ease, without needing an equivalent in the real world. For example, things like contracts, wills, deeds and share certificates might only require a piece of code stored on the blockchain that represents the exchange. Instead of a trusted intermediary verifying transactions, the computers of the shared network of bitcoin users themselves perform the verification at no cost to those involved in the transaction. Truth and trust This verification process holds the seeds of change across huge numbers of industries. The distributed ledger the blockchain offers the chance to enhance truth and trust in every system to which it is applied. It can prove who owns what at any given moment. Anything that currently exists to verify contracts, ownership, payments and even performance can be shifted to the blockchain . This would transfer power away from those who currently manage or verify transactions a seismic change to the way the world currently operates. As with any power shift, those holding power are reluctant to surrender it. The winners in this scenario will come from existing companies rather than start-ups, given that for this new system to work, it requires buy-in and trust existing brands already have this advantage. So what are blockchains main advantages? By performing the functions of record keepers and managers it would enhance decentralisation , reduce the amount of intermediaries involved and provide an alternative to how value can be stored. Physical as well as digital assets could be uniquely verified online to prove ownership. As transactions stored on the blockchain could be independently verified and traced, it would be easier to fight crime, counterfeiting and fraud, reducing systemic risk in the financial system. A distributed digital ledger would make it near impossible to change or falsify data, because data would have to be altered across all the related blocks in the digital chain, so any tampering would be exposed. Consequently associated costs would fall, enhancing economic growth and prosperity. In places like India, blockchain could bring access to banking to millions of poor people, helping them to save and plan for their future. Shutterstock A dramatic disruption is happening already in the financial industry: the worlds largest custodian bank, BNY Mellon, is using a blockchain based platform for government bond settlement . And one of the Bank of Englands research focus areas is based around financial technology or fintech and how it affects the way markets and society function. Another benefit would be to make micropayments possible digitally. A country such as India, where huge number of people still do not have access to banking, could experience profound economic change if brought within their reach, helping them save, borrow and plan for their future. Taking back our privacy The online marketing and advertising industry has feasted on data generated by internet users, and social media platforms such as Facebook with more than two billion users Google and Amazon collect considerable amounts of individualised data on us to target adverts at us. Blockchain could enhance our online privacy, by allowing us to store our digital footprint on our own unique blockchain and control who has access to it. Rather than these massive organisations building up records of our tastes and preferences, this data would be decentralised and within our own control. Online privacy would be tightened up with blockchain, as individuals would have secure control over their own personal data. Shutterstock Blockchain could enhance entrepreneurship in developed and developing countries, breaking down barriers built from embedded bureaucracy and corruption by providing a means to bypass existing power structures. For example, the digital ledger Everledger is tracking a real-life object diamonds to prove their provenance and ownership. As a result, trust in the system is enhanced. When the internet came into being, it was a disruptive, game-changing force for many industries blockchain technology holds the same potential. In moving trust from the current verifiers to a distributed blockchain system, the world could see a massive shift in power to the masses a truly revolutionary idea. This article was originally published on The Conversation . Read the original article . The Conversation The authors do not work for, consult, own shares in or receive funding from any company or organisation that would benefit from this article, and have disclosed no relevant affiliations beyond the academic appointment above. \|\| The big business revolution: why the future is blockchain: The value of onebitcoinrecently hit a record high of US$3,025, a staggering rise of over 200% in value this year alone. Aswath Damodaran, professor of finance at the New York University, known as Wall Street’s “dean of valuation”, has said that among the younger generation, digital currencies havereplaced goldas a choice of investment and that, sooner or later, currencies such as bitcoin andethereumwill compete against nation-state paper currencies. So could bitcoin become a popular currency and decrease the popularity of euros, dollars, pounds, roubles and others? For anything to be seen as “money” it needs to meet three functions – astore of value, ameasure of valueand amedium of exchange. Bitcoin’svolatilityshows that it is an infant in meeting these three criteria, but has the potential to do so. However, digital currencies like bitcoin are just one application of the blockchain technology that makes them possible. Blockchain, as the BBCexplains, is: a method of recording data – a digital ledger of transactions, agreements, contracts – anything that needs to be independently recorded and verified as having happened. The big difference is that this ledger isn’t stored in one place, it’s distributed across several, hundreds or even thousands of computers around the world. And everyone in the network can have access to an up-to-date version of the ledger, so it’s very transparent. Blockchain combines the security ofcryptography, the storage and transmission of data in coded form, withpeer-to-peer networksto create a shared database of transactions that is trusted, yet controlled by no one. If blockchain finds uses in various industries we could see a more digitally integrated global economy, something that could enhance economic growth and decrease poverty. In business today, we still require trusted administrators to manage and record the numbers and databases – auditors, supervisory boards and so on. The potential of blockchain is that it offers the chance to “distribute” these digital ledgers to others through a network of computers across the world. It could actuallydispensewith those businesses that are based on trusted relationships – such as banking, auditing, solicitors, even aspects of government. For example in Sweden, Georgia and Ukraineproperty registersare being moved on to the blockchain. In finance, people rarely lend directly to each other, hence the need for banks as trusted go-betweens. The beauty ofcryptocurrenciessuch as bitcoin or ethereum is that they remove the need for the trusted third party, using instead an encrypted, secure database. This has huge implications for any business that requires the verification of payments and performance of contracts – that is, most businesses. The beauty of blockchain is that something can be unique and stored digitally with ease, without needing an equivalent in the real world. For example, things like contracts, wills, deeds and share certificates might only require a piece of code stored on the blockchain that represents the exchange. Instead of a trusted intermediary verifying transactions, the computers of the shared network of bitcoin users themselves perform the verification at no cost to those involved in the transaction. This verification process holds the seeds of change across huge numbers of industries. The distributed ledger – the blockchain – offers the chance to enhance truth and trust in every system to which it is applied. It can prove who owns what at any given moment. Anything that currently exists to verify contracts, ownership, payments and even performance can beshifted to the blockchain. This would transfer power away from those who currently manage or verify transactions – a seismic change to the way the world currently operates. As with any power shift, those holding power are reluctant to surrender it. The “winners” in this scenario will come from existing companies rather than start-ups, given that for this new system to work, it requires buy-in and trust – existing brands already have this advantage. So what are blockchain’s main advantages? By performing the functions of record keepers and managers it wouldenhance decentralisation, reduce the amount of intermediaries involved and provide an alternative to how value can be stored. Physical as well as digital assets could be uniquely verified online to prove ownership. As transactions stored on the blockchain could be independently verified and traced, it would be easier to fight crime, counterfeiting and fraud, reducing systemic risk in the financial system. A distributed digital ledger would make it near impossible to change or falsify data, because data would have to be altered across all the related “blocks” in the digital chain, so any tampering would be exposed. Consequently associated costs would fall, enhancing economic growth and prosperity. A dramatic disruption is happening already in the financial industry: the world’s largest custodian bank, BNY Mellon, is using a blockchain based platform forgovernment bond settlement. And one of the Bank of England’sresearch focus areasis based around financial technology or “fintech” and how it affects the way markets and society function. Another benefit would be to makemicropaymentspossible digitally. A country such as India, where huge number of people still do not have access to banking, could experience profound economic change if brought within their reach, helping them save, borrow and plan for their future. The online marketing and advertising industry has feasted on data generated by internet users, and social media platforms such as Facebook – with more than two billion users – Google and Amazon collect considerable amounts of individualised data on us to target adverts at us. Blockchain could enhance our online privacy, by allowing us to store our digital footprint on our own unique blockchain and control who has access to it. Rather than these massive organisations building up records of our tastes and preferences, this data would be decentralised and within our own control. Blockchain could enhance entrepreneurship in developed and developing countries, breaking down barriers built from embedded bureaucracy and corruption by providing a means to bypass existing power structures. For example, the digital ledgerEverledgeris tracking a real-life object – diamonds – to prove their provenance and ownership. As a result, trust in the system is enhanced. When the internet came into being, it was a disruptive, game-changing force for many industries – blockchain technology holds the same potential. In moving trust from the current “verifiers” to a distributed blockchain system, the world could see a massive shift in power to the masses – a truly revolutionary idea. This article was originally published onThe Conversation. Read theoriginal article. The authors do not work for, consult, own shares in or receive funding from any company or organisation that would benefit from this article, and have disclosed no relevant affiliations beyond the academic appointment above. \|\| 7 Cryptocurrency Predictions From the Experts: Fortuneconvened some topcryptocurrencyentrepreneurs, venture capitalists, bankers, and others to chat about the future of digital money atFortune’sBrainstorm Tech conference in Aspen, Colo. last week. A select group met at the Aspen Institute for a breakfast roundtable discussion on Wednesday morning. Headliners on the panel includedBalaji Srinivasan, CEO and cofounder of 21.co, a cryptocurrency startup that has raised more in traditional VC funding than almost other one. Another was Peter Smith, CEO and cofounder of Blockchain, a U.K.-based cryptocurrency wallet company that recentlyraised $40 million from GV, the venture capital arm ofAlphabet, parent company of Googlegoog. And Kathleen Breitman, CEO and cofounder of Tezos, a blockchain startup that this yearraised more than $200 millionin an initial coin offering, or ICO, and which counts celeb investorsTim Draperand Mark Cuban among its backers. The crew of experts weighed in on everything from the longevity of Bitcoin, the original cryptocurrency and blockchain, or cryptographically secured public ledger, to the latest trend of hosting so-called token sales to fund projects, especially onEthereum, a rival blockchain to Bitcoin’s, to the future of a decentralized web. Here are some of the predictions we heard. Get Data Sheet,Fortune’stechnology newsletter. Most people who are enthusiastic about cryptocurrency appear to agree that Bitcoin and its newer rival Ethereum have staying power, though they may be more bullish on one versus the other. “In terms of 5 to 10 years, Bitcoin and Ether will be around I bet,” Balaji Srinivasan told the room of more than 70 people. Peter Smith said his company, Blockchain, which was early to Bitcoin, has only just started to warm up to newcomer Ethereum. In contrast, Mike Cagney, CEO and cofounder of SoFi, a personal finance company, said during a separate session on the main stage that he washotter on the latter technology. Bitcoin “has some purpose but its application for commercial transaction is limited right now,” Cagney said. “The blockchain and Ethereum, on the other hand, have absolutely fascinating infrastructure applications,” he continued, mentioning the possibility to overhaul title insurance, which involves policies related to real estate, as one example. Bitcoin and Ethereum may have stolen the show at this point, but the innovation won’t end there. Expect more winners on the horizon. Kathleen Breitman is hopeful that Tezos, her own blockchain bet, will fill a niche that solves problems with extant blockchains. In particular, she and her project’s developers are designing Tezos to automatically push software updates out to the network, thus, in theory, avoiding the divisive feuding over upgrades that has wracked systems like Bitcoin over the past few years. No one can say how many tokens and coins and blockchain protocols will eventually win out, but the experts seem to think there’s room for a multitude. “It’s likely that another one or two dominant ones we haven’t seen yet in the market,” Smith projected. “Another really dominant coin could come out this year or next year.” For the time being, token sales might seem like a fantastic way to raise a lot of money quickly and with few questions asked. Will this lead to riches for some? Undoubtedly—indeed, it already has. And rip-offs for others? Almost certainly. Smith said he presumes that market manipulation and insider dealing is rampant among purveyors of initial coin offerings. “We’re cautious about it in the short term,” Smith said of his company. “But you have to temper that with the idea that every new technology is going to be like that in the beginning.” Brad Garlinghouse, CEO of Ripple and a former executive atYahoo, voiced his less forgiving concerns about the sector on a separate panel. “Heavily regulated markets are typically heavily regulated for a reason,” he said. “Frauds are happening, people are going to jail.” The days of making a pilgrimage to the homes of the holders of purse strings are coming to an end. In a world where anyone can participate as an investor online, physical location matters much less. “It used to be you had to come to Silicon Valley, walk up Sand Hill Road, network with individuals,” Srinivasan said about entrepreneurs seeking funding, often strolling up a strip to the west of Palo Alto that long has been associated with venture capital firms. ICOs change all that. Projects are already getting funded this Kickstarter-like new way. Breitman said she that when she set up Tezos’ token sale, she aimed to“get as many people who wanted to participate in the ecosystem to contribute.” The company raised more than $200 million to date and, according to her, more than 30,000 Tezos wallets have been opened. Elena Kvochko, chief information officer of the security division at Barclays, said that her bank has had many talks with regulators about Bitcoin and its ilk. The rule-sticklers actually don’t mind working with Bitcoin, she said. What they do care about is financial institutions obeying “know your customer” laws, which prevent terrorists and other sanctioned groups from getting financed. Meanwhile, as governments settle on sets of rules of the road, countries like Switzerland, Singapore, and Estonia are jostling to develop frameworks that easily accommodate the new technology, Srinivasan said. They’re seeking to displace geographic incumbents and become hubs for a new wave of business financing. “If you’re a U.S. person or business, you have a good deal to be concerned about,” Smith said. Breitman added that until the rules are agreed upon, it’s “best to be transparent” about what one is doing. As cryptocurrency prices fluctuate wildly, speculators have been having a field day. However, there’s reason to believe the markets will become more stable, as Bitcoin gradually has over the past couple of years (despite its still big price swings), Smith said. In order for these computer coins to catch on big-time, they need a use-case that beats traditional money. Ideally, this ought to be better than merely “buying drugs,” as Jeff John Roberts,Fortunereporter and the session’s moderator, noted. Srinivasan proposed one possible scenario. Imagine that “all your waking hours are spent in the Matrix,” he said, referring to a virtual reality in which everyone is enmeshed in the future. As people from all over the world meet and interact, they will need a medium of exchange. “To transact, you can’t just hand over a dollar bill,” Srinivasan said. “You need an international currency for that.” “It might take a while but there’s going to be more of a need to transact across borders than there is today,” he said. Whenever a consumer swipes or dips a credit card, payment processors charge a fee. Nicko van Someren, chief technology officer of the Linux Foundation, pointed out that the fee companies likeVisaorMastercardcharge exceeds the cost to clear or settle transactions. These businesses can potentially process transactions quicker and cheaper, he contended. One potential outcome of the adoption of alternate systems, like Bitcoin, is to provide companies with the impetus to improve their services. “Bitcoin is good because it will make banks move toward the real cost of handling these transactions,” van Someren said. (By extension, in Ethereum’s case, one could imagine upstart companies built on it forcing giants likeAmazon,Facebook, or Dropbox to reconsider or improve their respective offerings.) Smith, meanwhile, was less optimistic about incumbents’ ability to adapt to such change. “I don’t think be lot of room for banks to simply adjust their price models,” he said. \|\| 7 Cryptocurrency Predictions From the Experts: Fortune convened some top cryptocurrency entrepreneurs, venture capitalists, bankers, and others to chat about the future of digital money at Fortunes Brainstorm Tech conference in Aspen, Colo. last week. A select group met at the Aspen Institute for a breakfast roundtable discussion on Wednesday morning. Headliners on the panel included Balaji Srinivasan , CEO and cofounder of 21.co, a cryptocurrency startup that has raised more in traditional VC funding than almost other one. Another was Peter Smith, CEO and cofounder of Blockchain, a U.K.-based cryptocurrency wallet company that recently raised $40 million from GV , the venture capital arm of Alphabet , parent company of Google goog . And Kathleen Breitman, CEO and cofounder of Tezos, a blockchain startup that this year raised more than $200 million in an initial coin offering, or ICO, and which counts celeb investors Tim Draper and Mark Cuban among its backers. The crew of experts weighed in on everything from the longevity of Bitcoin, the original cryptocurrency and blockchain, or cryptographically secured public ledger, to the latest trend of hosting so-called token sales to fund projects, especially on Ethereum , a rival blockchain to Bitcoins, to the future of a decentralized web. Here are some of the predictions we heard. Get Data Sheet , Fortunes technology newsletter. 1. Bitcoin and Ethereum are here to stay. Most people who are enthusiastic about cryptocurrency appear to agree that Bitcoin and its newer rival Ethereum have staying power, though they may be more bullish on one versus the other. In terms of 5 to 10 years, Bitcoin and Ether will be around I bet, Balaji Srinivasan told the room of more than 70 people. Peter Smith said his company, Blockchain, which was early to Bitcoin, has only just started to warm up to newcomer Ethereum. In contrast, Mike Cagney, CEO and cofounder of SoFi, a personal finance company, said during a separate session on the main stage that he was hotter on the latter technology . Story continues Bitcoin has some purpose but its application for commercial transaction is limited right now, Cagney said. The blockchain and Ethereum, on the other hand, have absolutely fascinating infrastructure applications, he continued, mentioning the possibility to overhaul title insurance, which involves policies related to real estate, as one example. 2. As yet unknown coins will hit the big time. Bitcoin and Ethereum may have stolen the show at this point, but the innovation wont end there. Expect more winners on the horizon. Kathleen Breitman is hopeful that Tezos, her own blockchain bet, will fill a niche that solves problems with extant blockchains. In particular, she and her projects developers are designing Tezos to automatically push software updates out to the network, thus, in theory, avoiding the divisive feuding over upgrades that has wracked systems like Bitcoin over the past few years. No one can say how many tokens and coins and blockchain protocols will eventually win out, but the experts seem to think theres room for a multitude. Its likely that another one or two dominant ones we havent seen yet in the market, Smith projected. Another really dominant coin could come out this year or next year. 3. Sure, people will get burned. For the time being, token sales might seem like a fantastic way to raise a lot of money quickly and with few questions asked. Will this lead to riches for some? Undoubtedlyindeed, it already has. And rip-offs for others? Almost certainly. Smith said he presumes that market manipulation and insider dealing is rampant among purveyors of initial coin offerings. Were cautious about it in the short term, Smith said of his company. But you have to temper that with the idea that every new technology is going to be like that in the beginning. Brad Garlinghouse, CEO of Ripple and a former executive at Yahoo , voiced his less forgiving concerns about the sector on a separate panel. Heavily regulated markets are typically heavily regulated for a reason, he said. Frauds are happening, people are going to jail. 4. ICOs will (eventually) give Silicon Valley and Wall Street a run for their money. The days of making a pilgrimage to the homes of the holders of purse strings are coming to an end. In a world where anyone can participate as an investor online, physical location matters much less. It used to be you had to come to Silicon Valley, walk up Sand Hill Road, network with individuals, Srinivasan said about entrepreneurs seeking funding, often strolling up a strip to the west of Palo Alto that long has been associated with venture capital firms. ICOs change all that. Projects are already getting funded this Kickstarter-like new way. Breitman said she that when she set up Tezos token sale, she aimed to get as many people who wanted to participate in the ecosystem to contribute. The company raised more than $200 million to date and, according to her, more than 30,000 Tezos wallets have been opened. 5. Regulations will stick. Elena Kvochko, chief information officer of the security division at Barclays, said that her bank has had many talks with regulators about Bitcoin and its ilk. The rule-sticklers actually dont mind working with Bitcoin, she said. What they do care about is financial institutions obeying know your customer laws, which prevent terrorists and other sanctioned groups from getting financed. Meanwhile, as governments settle on sets of rules of the road, countries like Switzerland, Singapore, and Estonia are jostling to develop frameworks that easily accommodate the new technology, Srinivasan said. Theyre seeking to displace geographic incumbents and become hubs for a new wave of business financing. If youre a U.S. person or business, you have a good deal to be concerned about, Smith said. Breitman added that until the rules are agreed upon, its best to be transparent about what one is doing. 6. Speculation will subside as killer apps take hold. As cryptocurrency prices fluctuate wildly, speculators have been having a field day. However, theres reason to believe the markets will become more stable, as Bitcoin gradually has over the past couple of years (despite its still big price swings), Smith said. In order for these computer coins to catch on big-time, they need a use-case that beats traditional money. Ideally, this ought to be better than merely buying drugs, as Jeff John Roberts, Fortune reporter and the sessions moderator, noted. Srinivasan proposed one possible scenario. Imagine that all your waking hours are spent in the Matrix, he said, referring to a virtual reality in which everyone is enmeshed in the future. As people from all over the world meet and interact, they will need a medium of exchange. To transact, you cant just hand over a dollar bill, Srinivasan said. You need an international currency for that. It might take a while but theres going to be more of a need to transact across borders than there is today, he said. 7. Cryptocurrencies will pressure incumbents to improve . Whenever a consumer swipes or dips a credit card, payment processors charge a fee. Nicko van Someren, chief technology officer of the Linux Foundation, pointed out that the fee companies like Visa or Mastercard charge exceeds the cost to clear or settle transactions. These businesses can potentially process transactions quicker and cheaper, he contended. One potential outcome of the adoption of alternate systems, like Bitcoin, is to provide companies with the impetus to improve their services. Bitcoin is good because it will make banks move toward the real cost of handling these transactions, van Someren said. (By extension, in Ethereums case, one could imagine upstart companies built on it forcing giants like Amazon , Facebook , or Dropbox to reconsider or improve their respective offerings.) Smith, meanwhile, was less optimistic about incumbents ability to adapt to such change. I dont think be lot of room for banks to simply adjust their price models, he said. \|\| GOLDMAN SACHS: Bitcoin may need 'another few swings' before making a run at record highs: Bitcoin is is trading down 4.7% at $2,623 a coin. Tuesday's selling comes after a strong day of gains on Monday as traders continue to jockey for position ahead of the August 1 decision on whether or not bitcoin will be split in two . According to Sheba Jafari, the head of technical strategy at Goldman Sachs, bitcoin "may need another few swings" before the trend continues. The cryprocurrency's inability to breakout above its June 13 high of $3,000 suggests it is forming a triangle pattern that could see as many as five swings, and a low of $1,786, Jafari writes. But fear not, says Jafari, because a run at record highs is in the cards as bitcoin remains in the fourth wave of a five wave series. "Anything above 3,000 (Jun. 13th high) will suggest potential to have already started wave V, which again has a minimum target at 2,988 and scope to reach 3,691 (the latter being a preferred target as this assumes a new high.)," Jafari wrote in a note to clients sent out on Monday. So far Jafari has been spot on in her analysis. In early July, Jafari suggested bitcoin wouldn't fall too far below $1,857 . It fell to somewhere between $1,758 or $1,852 (depending on which data you use). A few weeks earlier, Jafari predicted a big drop was coming after bitcoin hit $3,000. Bitcoin is up 166% so far in 2017. 7 25 17 bitcoin technical analysis COTD (Goldman Sachs) More From Business Insider The Fed has become the dollar's 'biggest problem' Legendary investor Byron Wien says the stock market is entering uncharted territory Consumer spending propels economic growth in the 2nd quarter — but by less than expected \|\| GOLDMAN SACHS: Bitcoin may need 'another few swings' before making a run at record highs: Bitcoinis is trading down 4.7% at $2,623 a coin. Tuesday's selling comes after a strong day of gains on Monday as traders continue to jockey for position ahead of the August 1 decision onwhether or not bitcoin will be split in two. According to Sheba Jafari, the head of technical strategy at Goldman Sachs, bitcoin "may need another few swings" before the trend continues. The cryprocurrency's inability to breakout above its June 13 high of $3,000 suggests it is forming a triangle pattern that could see as many as five swings, and a low of $1,786, Jafari writes. But fear not, says Jafari, because a run at record highs is in the cards as bitcoin remains in the fourth wave of a five wave series. "Anything above 3,000 (Jun. 13th high) will suggest potential to have already started wave V, which again has a minimum target at 2,988 and scope to reach 3,691 (the latter being a preferred target as this assumes a new high.)," Jafari wrote in a note to clients sent out on Monday. So far Jafari has been spot on in her analysis. In early July, Jafari suggestedbitcoin wouldn't fall too far below $1,857. It fell tosomewhere between $1,758 or $1,852 (depending on which data you use). A few weeks earlier, Jafari predicteda big drop was comingafter bitcoin hit $3,000. Bitcoin is up 166% so far in 2017. (Goldman Sachs) More From Business Insider • The Fed has become the dollar's 'biggest problem' • Legendary investor Byron Wien says the stock market is entering uncharted territory • Consumer spending propels economic growth in the 2nd quarter — but by less than expected [Social Media Buzz] $2782.69 at 00:15 UTC [24h Range: $2655.82 - $2825.00 Volume: 13966 BTC] \|\| Bitcoin trading at 2760.00. Don't miss out on the action! Automate trades with ModoBot. http://www.ModoBot.com #BTC #Bitcoin \|\| Jul 28, 2017 22:31:00 UTC \| 2,816.70$ \| 2,397.50€ \| 2,144.50£ \| #Bitcoin #btc pic.twitter.com/Adljwgi7Fy \|\| $2,825.00 BITCOIN PRICE \|\| Jul 28, 2017 19:31:00 UTC \| 2,784.40$ \| 2,367.40€ \| 2,117.20£ \| #Bitcoin #btc pic.twitter.com/Hjw5YgPtal \|\| #Monacoin 56.8円↓[Zaif] -円→[もなとれ] #NEM #XEM 19.2円↑[Za...	2726.45, 2757.18, 2875.34, 2718.26, 2710.67, 2804.73, 2895.89, 3252.91, 3213.94, 3378.94
Given the historical Bitcoin prices from the last 90 days, predict the next 10 daily closing prices. The historical prices are: 5829.50, 5982.46, 6174.53, 6378.85, 7204.77, 6972.37, 7814.92, 7994.42, 8205.17, 7884.91, 7343.90, 7271.21, 8197.69, 7978.31, 7963.33, 7680.07, 7881.85, 7987.37, 8052.54, 8673.22, 8805.78, 8719.96, 8659.49, 8319.47, 8574.50, 8564.02, 8742.96, 8209.00, 7707.77, 7824.23, 7822.02, 8043.95, 7954.13, 7688.08, 8000.33, 7927.71, 8145.86, 8230.92, 8693.83, 8838.38, 8994.49, 9320.35, 9081.76, 9273.52, 9527.16, 10144.56, 10701.69, 10855.37, 11011.10, 11790.92, 13016.23, 11182.81, 12407.33, 11959.37, 10817.16, 10583.13, 10801.68, 11961.27, 11215.44, 10978.46, 11208.55, 11450.85, 12285.96, 12573.81, 12156.51, 11358.66, 11815.99, 11392.38, 10256.06, 10895.09, 9477.64, 9693.80, 10666.48, 10530.73, 10767.14, 10599.11, 10343.11, 9900.77, 9811.93, 9911.84, 9870.30, 9477.68, 9552.86, 9519.15, 9607.42, 10085.63, 10399.67, 10518.17, 10821.73, 10970.18.	[Bitcoin Technical Analysis for 2019-08-04] Volume: 16530894787, RSI (14-day): 57.38, 50-day EMA: 10113.82, 200-day EMA: 7744.48 [Wider Market Context] None available. [Recent News (last 7 days)] Seven reasons why Ethereum is no longer an altcoin: To many people, bitcoin is not only the granddaddy of crypto, it remains the one true coin. Everything else, including Ethereum’s coin, ether, has traditionally been referred to as an alternative coin, or “altcoin.” But is it time for a labelling shake up? While the discussion is not new, new arguments and data suggest that, alone among thousands of altcoins, ether could be in the running for a promotion. Here’s why: 1. Ethereum is the most similar to Bitcoin A new study, from the San Francisco Open Exchange (SFOX,) suggests that “it may no longer be accurate to classify ether as an ‘altcoin,’” because its correlation to bitcoin is significantly higher than bitcoin’s correlations to other coins. In the previous month, according to the study’s author, ether’s correlation to bitcoin was 0.788, whereas Bitcoin Cash scored 0.638, Litecoin, 0.577, Bitcoin SV was 0.619 and Ethereum Classic managed only 0.602. The team concluded that Ethereum is gradually becoming “a blockchain that is publicly recognized as an asset on its own terms, much like B itcoin.” 2. Ethereum is the world’s largest blockchain platform Though bitcoin is the original crypto, Ethereum is the biggest blockchain by volume. There are over 1,600 dapps on the platform, according to a study by dapp.com . Tron, meanwhile, has more active users but Ethererum has twice as many active dapps. 3. Ethereum is second only to Bitcoin in market capitalization (As of July 2019.) 4. Ethereum has the biggest community There are twice as many developers working on Ethereum each month as bitcoin, a ccording to a report by crypto asset management firm Electric Capital . It says approximately 216 developers work on the platform monthly. Crypto news site The Block suggests there are between 250,000 to 350,000 developers building on the platform. 5. Ethereum has the second most-talked about coin after Bitcoin Given how big the developer base and community are, it’s hardly surprising that ether is also the second most talked about coin. A study by Pacific Northwest National Laboratory analyzed cryptocurrency based discussions over on Reddit and found that only bitcoin is discussed more. (Hat tip to Monero, which came in third.) Story continues 6. Ethereum is the most decentralized blockchain platform in existence Analysis tool Ethernodes reports just under 17,000 nodes running the blockchain across six continents. Bitcoin dwarfs that with more than 66,000 , but many of these are concentrated in data centers . 7. Ethereum is the most active smart contract platform Of the top 100 tokens by market cap, 94% are built on top of the platform. Updated to more accurately reflect number and concentration of Bitcoin nodes. \|\| Seven reasons why Ethereum is no longer an altcoin: To many people,bitcoinis not only the granddaddy of crypto, it remains the one true coin. Everything else, including Ethereum’s coin, ether, has traditionally been referred to as an alternative coin, or “altcoin.” But is it time for a labelling shake up? While the discussion is not new, new arguments and data suggest that, alone among thousands of altcoins, ether could be in the running for a promotion. Here’s why: A new study, from theSan Francisco Open Exchange(SFOX,) suggests that “it may no longer be accurate to classify ether as an ‘altcoin,’” because its correlation to bitcoin is significantly higher than bitcoin’s correlations to other coins. In the previous month, according to the study’s author, ether’s correlation to bitcoin was 0.788, whereas Bitcoin Cash scored 0.638, Litecoin, 0.577, Bitcoin SV was 0.619 and Ethereum Classic managed only 0.602. The team concluded that Ethereum is gradually becoming “a blockchain that is publicly recognized as an asset on its own terms, much like Bitcoin.” Though bitcoin is the original crypto, Ethereum is thebiggest blockchainby volume. There are over 1,600 dapps on the platform, according to a study bydapp.com. Tron, meanwhile, has more active users but Ethererum has twice as many active dapps. (As of July 2019.) There are twice as many developers working on Ethereum each month as bitcoin, according to a report by crypto asset management firmElectric Capital. It says approximately 216 developers work on the platform monthly.Crypto news siteThe Blocksuggeststhere are between 250,000 to 350,000 developers building on the platform. Given how big the developer base and community are, it’s hardly surprising that ether is also the second most talked about coin.Astudyby Pacific Northwest National Laboratory analyzed cryptocurrency based discussions over on Reddit and found that only bitcoin is discussed more. (Hat tip to Monero, which came in third.) Analysis toolEthernodesreports just under 17,000 nodes running the blockchain across six continents. Bitcoin dwarfs that with more than66,000, but many of these are concentrated indata centers. Of the top 100 tokens by market cap,94%are built on top of the platform. Updated to more accurately reflect number and concentration of Bitcoin nodes. \|\| Korea’s Shinhan to Offer Blockchain-Based Securities Lending: Shinhan Financial Investment will soon be offering peer-to-peer (P2P) stock lending via the blockchain. When the new service is introduced this year, individuals will be able to borrow and lend securities with other individuals directly, rather than going through an intermediary. TheEconomic Newsand other local Korean media reported the news. Securities lending and borrowing transactions are normally inefficient and expensive for anyone but larger investors. Commissions can be high and accurate information difficult to obtain. With a P2P service, individual owners of stock should be able to easily and cheaply lend their shares directly to others, earning a fee in the process. Individual short sellers will potentially be able to borrow stock from willing counterparties without having to pay exorbitant fees to large institutions. Related:South Korea Declares Partial ‘Regulation-Free’ Zone for Crypto Companies Shinhan Financial Investment, which is a brokerage related to the country’s second largest banking group by assets, is developing the capability in cooperation with Directional, a Korean company that has been permitted by the Financial Service Commission (FSC) to provide stock lending and borrowing as part of the government’s sandbox initiative. Sandboxes, which are being aggressively pushed by the current administration, allow for a temporary lifting of regulations for the testing of innovative technologies and services. Directionalreceived its exception in May under a financial market sandbox programannounced by the FSC in April. No timeframe has been reported for the roll out of the Shinhan offering. Shinhan Bank has been aggressive in its pursuit of blockchain solutions. Two years ago, it started using the technology for the verification of gold bars. Since then, it has utilized it for interest rate swaps and and cross border remittances. In May this year, it was reported that the bank would use the technology forloan verification, enabling customers to electronically submit documents that previously had to be presented on paper, and often in person, and authenticated manually. Like most commercial banks in Korea, Shinhan has been more enthusiastic about blockchain than pure crypto, tracking the official government stance but running counter to customer appetite for coins. Related:Firearm Firm Wins Patent for Integrating Blockchain into ‘Black Box’ for Guns The bank was for a while more positive on crypto and accepted deposits from cryptoexchanges and exchange customers rejected by other banks. But in light of increased scrutiny by the authorities from 2018, and in light of new FATF standards, the bank has upped its surveillance of crypto-connected accounts and is instituting systems and procedures to enforce real-name account requirements and adhere to Know-Your-Customer best practices. Like other banks, it is currently renegotiating its cryptoexchange deposit agreements. While an extension of its contract with Korbit, the local exchange it serves, is expected, nothing is guaranteed given concerns about possible fraud. Image via Shutterstock. • Bitcoin’s Largest Wallet Blockchain Just Launched Its First Crypto Exchange • South Korean Financial Overseer Who Banned ICOs Abruptly Quits \|\| Koreas Shinhan to Offer Blockchain-Based Securities Lending: Shinhan Financial Investment will soon be offering peer-to-peer (P2P) stock lending via the blockchain. When the new service is introduced this year, individuals will be able to borrow and lend securities with other individuals directly, rather than going through an intermediary. The Economic News and other local Korean media reported the news. Securities lending and borrowing transactions are normally inefficient and expensive for anyone but larger investors. Commissions can be high and accurate information difficult to obtain. With a P2P service, individual owners of stock should be able to easily and cheaply lend their shares directly to others, earning a fee in the process. Individual short sellers will potentially be able to borrow stock from willing counterparties without having to pay exorbitant fees to large institutions. Related: South Korea Declares Partial Regulation-Free Zone for Crypto Companies Shinhan Financial Investment, which is a brokerage related to the countrys second largest banking group by assets, is developing the capability in cooperation with Directional, a Korean company that has been permitted by the Financial Service Commission (FSC) to provide stock lending and borrowing as part of the governments sandbox initiative. Sandboxes, which are being aggressively pushed by the current administration, allow for a temporary lifting of regulations for the testing of innovative technologies and services. Directional received its exception in May under a financial market sandbox program announced by the FSC in April . No timeframe has been reported for the roll out of the Shinhan offering. Shinhan Bank has been aggressive in its pursuit of blockchain solutions. Two years ago, it started using the technology for the verification of gold bars. Since then, it has utilized it for interest rate swaps and and cross border remittances. In May this year, it was reported that the bank would use the technology for loan verification , enabling customers to electronically submit documents that previously had to be presented on paper, and often in person, and authenticated manually. Story continues Like most commercial banks in Korea, Shinhan has been more enthusiastic about blockchain than pure crypto, tracking the official government stance but running counter to customer appetite for coins. Related: Firearm Firm Wins Patent for Integrating Blockchain into Black Box for Guns The bank was for a while more positive on crypto and accepted deposits from cryptoexchanges and exchange customers rejected by other banks. But in light of increased scrutiny by the authorities from 2018, and in light of new FATF standards, the bank has upped its surveillance of crypto-connected accounts and is instituting systems and procedures to enforce real-name account requirements and adhere to Know-Your-Customer best practices. Like other banks, it is currently renegotiating its cryptoexchange deposit agreements. While an extension of its contract with Korbit, the local exchange it serves, is expected, nothing is guaranteed given concerns about possible fraud. Image via Shutterstock. Related Stories Bitcoins Largest Wallet Blockchain Just Launched Its First Crypto Exchange South Korean Financial Overseer Who Banned ICOs Abruptly Quits \|\| Bank of China is bullish for bitcoin: There’s no doubting the Bank of China’s favorable stance onbitcoin: Yesterday, it posted aninfographicon its website, explaining how cryptocurrency works, its uses and value. Until recently, China has come down hard on cryptocurrencies, which are banned. Yet, one of its four biggest, state-owned commercial banks is—apparently—promoting bitcoin. Not to be confused with the People’s Bank of China (PBoC)—which is the central regulatory authority for financial institutions and drafts the country’s monetary policy—the more liberal Bank of China, which has outlets all over the world, uses humor in its new infographic to provide a balanced picture of bitcoin’s pluses and minuses for its customers. Tron blockchain founder Justin Sun—one of China’s most successful crypto entrepreneurs—even pops up on the second screen, declaring “The biggest problem is too much money!” Does the Bank of China even know that he’s on the authorities’most wantedlist, and subject to a “border control” order? Though Sun is countered with an image of a Chinese crypto trader who committed suicide, after losing 2000 bitcoin, the rest of the infographic paints a more appealing picture of bitcoin. It goes on to describe the characteristics of bitcoin: its decentralized nature, price fluctuations and anonymity. It adds that bitcoin is hard to fake, and that its tax status is questionable. Then we delve into the history, from the publication of the bitcoin white paper, and via thefirst pizza purchased for bitcoinand theMt Gox hackto the announcement ofFacebook’s Libra coin. Part 2, deals with bitcoin’s volatility, scarcity and hash rate. Notably, we’re given an example of how Zimbabweans are using bitcoin as a safe haven to shield them from hyperinflation. And Part 3 looks at the present day—the accessibility of bitcoin ATMs, and the development of payment networks and attractive low-fee, cross-border payment solutions that some of the world’s leading institutions are working on. The doubters and detractors —investors Ray Dalio, Jamie Dimon and Warren Buffet—get to spit their bitcoin poison, but are portrayed as ignoramuses and balanced by Li Xiaolai (China’s biggest Bitcoin hodler) lighting a cigarette with a fiat note. It all ends by cautioning users about speculative investment. But Chinese-speaking twitter users said the message imparted was overwhelmingly positive. The Bank’s infographic isn’t the only sign that China is softening its hardline stance toward cryptocurrencies, and preparing the ground to develop its own. Earlier this month, Decryptreportedthat the PBoC had redoubled its efforts to produce a Chinese cryptocurrency—in the light of the risk posed to the country’s financial system by Facebook’s newly announced Libra coin. OnThursday, Ren Zhengfei, CEO of Chinese tech giant Huawei, became the latest Chinese tech luminary to speak up for the innovation. \|\| Bank of China is bullish for bitcoin: There’s no doubting the Bank of China’s favorable stance on bitcoin : Yesterday, it posted an infographic on its website, explaining how cryptocurrency works, its uses and value. Until recently, China has come down hard on cryptocurrencies, which are banned. Yet, one of its four biggest, state-owned commercial banks is—apparently—promoting bitcoin. Yesterday the #BankofChina posted up an article about #Bitcoin . They explained how $BTC works, why the price is going up, and why it’s valuable. Never thought I’d see that happen. #Bullish pic.twitter.com/GKzj7XJjJa — Samson Mow (@Excellion) July 27, 2019 Not to be confused with the People’s Bank of China (PBoC)—which is the central regulatory authority for financial institutions and drafts the country’s monetary policy—the more liberal Bank of China, which has outlets all over the world, uses humor in its new infographic to provide a balanced picture of bitcoin’s pluses and minuses for its customers. Tron blockchain founder Justin Sun—one of China’s most successful crypto entrepreneurs—even pops up on the second screen, declaring “The biggest problem is too much money!” Does the Bank of China even know that he’s on the authorities’ most wanted list, and subject to a “border control” order? Story continues Though Sun is countered with an image of a Chinese crypto trader who committed suicide, after losing 2000 bitcoin, the rest of the infographic paints a more appealing picture of bitcoin. It goes on to describe the characteristics of bitcoin: its decentralized nature, price fluctuations and anonymity. It adds that bitcoin is hard to fake, and that its tax status is questionable. Then we delve into the history, from the publication of the bitcoin white paper, and via the first pizza purchased for bitcoin and the Mt Gox hack to the announcement of Facebook’s Libra coin . Part 2, deals with bitcoin’s volatility, scarcity and hash rate. Notably, we’re given an example of how Zimbabweans are using bitcoin as a safe haven to shield them from hyperinflation. And Part 3 looks at the present day—the accessibility of bitcoin ATMs, and the development of payment networks and attractive low-fee, cross-border payment solutions that some of the world’s leading institutions are working on. The doubters and detractors —investors Ray Dalio, Jamie Dimon and Warren Buffet—get to spit their bitcoin poison, but are portrayed as ignoramuses and balanced by Li Xiaolai (China’s biggest Bitcoin hodler) lighting a cigarette with a fiat note. It all ends by cautioning users about speculative investment. But Chinese-speaking twitter users said the message imparted was overwhelmingly positive. I think the general sentiment is actually in favour of Bitcoin. — ProfessorMeow (@ProfessorMeo_w) July 27, 2019 The Bank’s infographic isn’t the only sign that China is softening its hardline stance toward cryptocurrencies, and preparing the ground to develop its own. 110 crypto exchanges want to set up shop in Japan Earlier this month, Decrypt reported that the PBoC had redoubled its efforts to produce a Chinese cryptocurrency—in the light of the risk posed to the country’s financial system by Facebook’s newly announced Libra coin. On Thursday , Ren Zhengfei, CEO of Chinese tech giant Huawei, became the latest Chinese tech luminary to speak up for the innovation. \|\| Bitcoin Won’t Be a Global Reserve Currency. But It’s Opening the Box: Noelle Acheson is a veteran of company analysis and a member of CoinDesk’s product team. The opinions expressed in this article are the author’s own. The following article originally appeared inInstitutional Cryptoby CoinDesk, a free newsletter for institutional investors interested in crypto assets.Sign up here. Celebrating the 75th anniversary of the Bretton Woods conference is probably not high on the list of priorities for cryptocurrency enthusiasts this month. This is an understandable oversight – the price swings,confusing product launchesandwhereabouts ofJustin Sun are perhaps more compelling. Related:Bitcoin’s Price Jumps Back Above $11K for the First Time In 3 Weeks But the birth of international economic cooperation and interoperability should be recognized as the beginning of a process of economic reconstruction that has contributed to the global imbalances worrying the markets today. It could also have set the scene for the solution. The bulk of the U.S. stock market may be overvalued, and yields look set to go even lower – but a large part of the current strain lurks under the surface of the currency market. A combination of monetary easing, trade tensions and the threat of military action in the Middle East is a noxious cocktail for currency holders and hedgers as international conversions get risky and costly. Perhaps because of this, as well as thedisquieting brandishingof financial muscle by the U.S. administration, the chorus of questions about the role of the U.S. dollar as a global reserve currency is getting louder. What’s more, it has held its leadership role for almost 100 years; the average global reserve currency lifespan over the past five centuriesis 95 years. Shifting balances are hinting that the dollar’s reign may soon be up: its share of foreign exchange reserves isover 60%, while the weight of the U.S. economy in global output has fallen toless than 25 percentand is likely to continue trending lower. Related:From Ghana to the Bronx, These Teen Bitcoiners Are Building the Future Encroaching currency competition could well gather momentum as politics starts to trump economics. Some have posited that there is a “non-zero chance” that bitcoin would make a great reserve currency. I disagree, I believe that there is exactly zero chance that could happen. Idothink, however, that the global reserve system will radically change over the next couple of decades. Bitcoin could be a part of what emerges. First, some background on the significance ofBretton Woodsand why we should be paying attention. In 1944, an agreement was drawn up between delegates from 44 nations that established the U.S. dollar as the world’s reserve currency, which would be pegged to gold. The other member nations would peg their currencies to the U.S. dollar, and the resulting relative stability between denominations would smooth world trade and boost the post-war recovery. The agreement also created the institutions of the International Monetary Fund (IMF) and the World Bank to coordinate global currency movements and channel loans to developing nations. The U.S. dollar stopped “officially” being the global reserve currency when President Richard Nixon took the country off the gold standard in 1971. It remained the de-facto global reserve currency, however, by dint of being the world’s largest economy and trading nation. Countries tended to hold more dollar reserves than all other foreign currencies combined, for the ease of transacting and for their relative stability. Being the global reserve currency is a mixed blessing. While it makes it easy to borrow in international markets, it takes away power to influence the domestic economy. If foreign debt holders start to believe that President Trump might encourage a devaluation of the U.S. dollar (as he hasoften hintedhe wants to do), they would start to unload, as a devaluation would make their bonds worth less. Foreign holdings of U.S. debtcurrently amount toover $6 trillion, almost 30% of the outstanding total, so even a small unloading would be a shock to the market and would weaken the dollar’s credibility for some time to come. As well as not being able to devaluewhen convenient, the additional global demand for U.S. dollars stemming from its reserve currency status is keeping the dollar’s value high relative to other currencies, exacerbating the current account deficit, now the largest in the world. And, whatever your views onModern Monetary Theory(which posits, among other things, that debt levels don’t matter), the vulnerability of the U.S. markets to foreign investment strategies is disquieting. So much for “America First.” Given thegrowing doubtsover theneed forandadvisability ofa fiat-based, single-issuer global reserve currency, you can see why the bitcoin narrative would pop up. Surely a sovereign-free, algorithm-based alternative would be more stable and trustworthy? Perhaps, but it won’t be bitcoin. First, a global currency needs to have a flexible supply. The limits on the amount of gold banks could hold was one of the main reasons the gold standard didn’t work – economic growth outstripped the supply of gold-backed money, and the inevitable scramble to overcome this limitation led to destabilization. Second, bitcoin will not become a universal settlement token for trading contracts. It’s too volatile. While this should soften in line with greater liquidity, it’s unlikely that businesses and sovereign powers will give up their preference for fiat, which they have some control over. So, if not bitcoin, then what? What could an international trading currency that embodies both trustworthiness and flexibility look like? One such model is Facebook’sLibra: a basket of currencies and government debt that is periodically rebalanced and used to peg a digital token that can be used for settlement. But the whirlwind of debate around the coin’s purpose and backing has highlighted the strong distrust of corporate motives with global ambitions, and the simmering anti-trust scrutiny will make it difficult for any large enterprise to create a universal solution. Another such model, much more likely, is a revamped Special Drawing Right (SDR). This basket of currencies was created by the IMF in 1969 to act as a private transaction token and a “store of value” for members. Its value moves in line with that of the underlying currencies: the U.S. dollar, Japanese yen, euro, British pound and Chinese renminbi. Several economistshave proposedtheexpansion ofthe SDR’s scope for purposes of international trade,positioning itas a global reserve currency that does not depend on any one issuer and can be managed by a neutral, supra-national organization with economic stability as its main objective. The problem is, even a liquid SDR in its current configuration would be subject to national priorities and vulnerabilities. A sharp depreciation in the U.S. dollar as central banks switch to the SDR as a reserve holding could destabilize the basket. The euro isalmost as significantas a global payment currency but carries an existential risk, however remote. The Chinese renminbi is still largely controlled by its government, and the British pound’s future is uncertain. If only the SDR in its new liquid form could be pegged to a non-sovereign token of exchange that is totally free from political manipulation. You see where I’m going with this? Other currencies would also form part of the basket, to reflect economic activity and allow flexibility in the supply. But a robust apolitical anchor could add a layer of trust, difficult to come by in an increasingly fractious trade environment. How this mechanism would work, I don’t know – it would no doubt be complex and fraught with controversy, and anyone who studies currencies is aware of the colossal complications of maintaining a peg. But thebuilding convictionthat the current system is flawed and the increasingly apparent politicization of currencies will eventually shift the conversation from “it’s too difficult to attempt” to “let’s start talking about this.” The biggest risk to the world economy right now is not trade tensions, overvalued assets or negative yields. It’s complacency in assuming that the status quo will hold. Profound change always costs a massive amount of political and economic capital, but it happens regardless. None of us can be sure what the next step of financial evolution will look like – but we’ll soon find out. As economist Tyler Cowen reminds usin a recentarticle: “Every era’s monetary institutions are virtually unimaginable until they are created.” Unfortunately, even getting the main participants to the table to discuss this will be a mammoth task. The Bretton Woods’ anniversary celebrations have given voice topapersandpanelsquestioningthe current reserve system, the role of the IMF and how to weather the economic storms ahead. Ideas and discussions are a start. But we shouldn’t forget that in 1944, just after the bloodiest war in history, what brought the participants to the table in a collaborative frame of mind was fear. We can all fervently hope that it doesn’t take that level of fear to get everyone to the table again. What is different this time around is that the need for a reform is becoming startlingly apparent. The discussions are involving a much broader set of participants. And bitcoin is adding a new tool to the box of potential solutions. On its own, it won’t solve the most pressing issues. But combined with other tools, and aided by diplomacy, academic rigor and patience, it could well form an integral part of a new type of reserve currency, which could help smooth or even avoid the shocks to come. (Disclosure: I hold a modest amount of bitcoin with no short positions.) Bitcoin imagevia Shutterstock • MIT’s AI Lab Analyzed 200,000 Bitcoin Transactions. Only 2% Were ‘Illicit’ • Bitcoin’s Price May Be Building for a Move Back Above $11K \|\| Bitcoin Won’t Be a Global Reserve Currency. But It’s Opening the Box: Noelle Acheson is a veteran of company analysis and a member of CoinDesk’s product team. The opinions expressed in this article are the author’s own. The following article originally appeared inInstitutional Cryptoby CoinDesk, a free newsletter for institutional investors interested in crypto assets.Sign up here. Celebrating the 75th anniversary of the Bretton Woods conference is probably not high on the list of priorities for cryptocurrency enthusiasts this month. This is an understandable oversight – the price swings,confusing product launchesandwhereabouts ofJustin Sun are perhaps more compelling. Related:Bitcoin’s Price Jumps Back Above $11K for the First Time In 3 Weeks But the birth of international economic cooperation and interoperability should be recognized as the beginning of a process of economic reconstruction that has contributed to the global imbalances worrying the markets today. It could also have set the scene for the solution. The bulk of the U.S. stock market may be overvalued, and yields look set to go even lower – but a large part of the current strain lurks under the surface of the currency market. A combination of monetary easing, trade tensions and the threat of military action in the Middle East is a noxious cocktail for currency holders and hedgers as international conversions get risky and costly. Perhaps because of this, as well as thedisquieting brandishingof financial muscle by the U.S. administration, the chorus of questions about the role of the U.S. dollar as a global reserve currency is getting louder. What’s more, it has held its leadership role for almost 100 years; the average global reserve currency lifespan over the past five centuriesis 95 years. Shifting balances are hinting that the dollar’s reign may soon be up: its share of foreign exchange reserves isover 60%, while the weight of the U.S. economy in global output has fallen toless than 25 percentand is likely to continue trending lower. Related:From Ghana to the Bronx, These Teen Bitcoiners Are Building the Future Encroaching currency competition could well gather momentum as politics starts to trump economics. Some have posited that there is a “non-zero chance” that bitcoin would make a great reserve currency. I disagree, I believe that there is exactly zero chance that could happen. Idothink, however, that the global reserve system will radically change over the next couple of decades. Bitcoin could be a part of what emerges. First, some background on the significance ofBretton Woodsand why we should be paying attention. In 1944, an agreement was drawn up between delegates from 44 nations that established the U.S. dollar as the world’s reserve currency, which would be pegged to gold. The other member nations would peg their currencies to the U.S. dollar, and the resulting relative stability between denominations would smooth world trade and boost the post-war recovery. The agreement also created the institutions of the International Monetary Fund (IMF) and the World Bank to coordinate global currency movements and channel loans to developing nations. The U.S. dollar stopped “officially” being the global reserve currency when President Richard Nixon took the country off the gold standard in 1971. It remained the de-facto global reserve currency, however, by dint of being the world’s largest economy and trading nation. Countries tended to hold more dollar reserves than all other foreign currencies combined, for the ease of transacting and for their relative stability. Being the global reserve currency is a mixed blessing. While it makes it easy to borrow in international markets, it takes away power to influence the domestic economy. If foreign debt holders start to believe that President Trump might encourage a devaluation of the U.S. dollar (as he hasoften hintedhe wants to do), they would start to unload, as a devaluation would make their bonds worth less. Foreign holdings of U.S. debtcurrently amount toover $6 trillion, almost 30% of the outstanding total, so even a small unloading would be a shock to the market and would weaken the dollar’s credibility for some time to come. As well as not being able to devaluewhen convenient, the additional global demand for U.S. dollars stemming from its reserve currency status is keeping the dollar’s value high relative to other currencies, exacerbating the current account deficit, now the largest in the world. And, whatever your views onModern Monetary Theory(which posits, among other things, that debt levels don’t matter), the vulnerability of the U.S. markets to foreign investment strategies is disquieting. So much for “America First.” Given thegrowing doubtsover theneed forandadvisability ofa fiat-based, single-issuer global reserve currency, you can see why the bitcoin narrative would pop up. Surely a sovereign-free, algorithm-based alternative would be more stable and trustworthy? Perhaps, but it won’t be bitcoin. First, a global currency needs to have a flexible supply. The limits on the amount of gold banks could hold was one of the main reasons the gold standard didn’t work – economic growth outstripped the supply of gold-backed money, and the inevitable scramble to overcome this limitation led to destabilization. Second, bitcoin will not become a universal settlement token for trading contracts. It’s too volatile. While this should soften in line with greater liquidity, it’s unlikely that businesses and sovereign powers will give up their preference for fiat, which they have some control over. So, if not bitcoin, then what? What could an international trading currency that embodies both trustworthiness and flexibility look like? One such model is Facebook’sLibra: a basket of currencies and government debt that is periodically rebalanced and used to peg a digital token that can be used for settlement. But the whirlwind of debate around the coin’s purpose and backing has highlighted the strong distrust of corporate motives with global ambitions, and the simmering anti-trust scrutiny will make it difficult for any large enterprise to create a universal solution. Another such model, much more likely, is a revamped Special Drawing Right (SDR). This basket of currencies was created by the IMF in 1969 to act as a private transaction token and a “store of value” for members. Its value moves in line with that of the underlying currencies: the U.S. dollar, Japanese yen, euro, British pound and Chinese renminbi. Several economistshave proposedtheexpansion ofthe SDR’s scope for purposes of international trade,positioning itas a global reserve currency that does not depend on any one issuer and can be managed by a neutral, supra-national organization with economic stability as its main objective. The problem is, even a liquid SDR in its current configuration would be subject to national priorities and vulnerabilities. A sharp depreciation in the U.S. dollar as central banks switch to the SDR as a reserve holding could destabilize the basket. The euro isalmost as significantas a global payment currency but carries an existential risk, however remote. The Chinese renminbi is still largely controlled by its government, and the British pound’s future is uncertain. If only the SDR in its new liquid form could be pegged to a non-sovereign token of exchange that is totally free from political manipulation. You see where I’m going with this? Other currencies would also form part of the basket, to reflect economic activity and allow flexibility in the supply. But a robust apolitical anchor could add a layer of trust, difficult to come by in an increasingly fractious trade environment. How this mechanism would work, I don’t know – it would no doubt be complex and fraught with controversy, and anyone who studies currencies is aware of the colossal complications of maintaining a peg. But thebuilding convictionthat the current system is flawed and the increasingly apparent politicization of currencies will eventually shift the conversation from “it’s too difficult to attempt” to “let’s start talking about this.” The biggest risk to the world economy right now is not trade tensions, overvalued assets or negative yields. It’s complacency in assuming that the status quo will hold. Profound change always costs a massive amount of political and economic capital, but it happens regardless. None of us can be sure what the next step of financial evolution will look like – but we’ll soon find out. As economist Tyler Cowen reminds usin a recentarticle: “Every era’s monetary institutions are virtually unimaginable until they are created.” Unfortunately, even getting the main participants to the table to discuss this will be a mammoth task. The Bretton Woods’ anniversary celebrations have given voice topapersandpanelsquestioningthe current reserve system, the role of the IMF and how to weather the economic storms ahead. Ideas and discussions are a start. But we shouldn’t forget that in 1944, just after the bloodiest war in history, what brought the participants to the table in a collaborative frame of mind was fear. We can all fervently hope that it doesn’t take that level of fear to get everyone to the table again. What is different this time around is that the need for a reform is becoming startlingly apparent. The discussions are involving a much broader set of participants. And bitcoin is adding a new tool to the box of potential solutions. On its own, it won’t solve the most pressing issues. But combined with other tools, and aided by diplomacy, academic rigor and patience, it could well form an integral part of a new type of reserve currency, which could help smooth or even avoid the shocks to come. (Disclosure: I hold a modest amount of bitcoin with no short positions.) Bitcoin imagevia Shutterstock • MIT’s AI Lab Analyzed 200,000 Bitcoin Transactions. Only 2% Were ‘Illicit’ • Bitcoin’s Price May Be Building for a Move Back Above $11K \|\| Bitcoin Wont Be a Global Reserve Currency. But Its Opening the Box: Noelle Acheson is a veteran of company analysis and a member of CoinDesks product team. The opinions expressed in this article are the authors own. The following article originally appeared in Institutional Crypto by CoinDesk, a free newsletter for institutional investors interested in crypto assets. Sign up here . Celebrating the 75th anniversary of the Bretton Woods conference is probably not high on the list of priorities for cryptocurrency enthusiasts this month. This is an understandable oversight the price swings, confusing product launches and whereabouts of Justin Sun are perhaps more compelling. Related: Bitcoins Price Jumps Back Above $11K for the First Time In 3 Weeks But the birth of international economic cooperation and interoperability should be recognized as the beginning of a process of economic reconstruction that has contributed to the global imbalances worrying the markets today. It could also have set the scene for the solution. The bulk of the U.S. stock market may be overvalued, and yields look set to go even lower but a large part of the current strain lurks under the surface of the currency market. A combination of monetary easing, trade tensions and the threat of military action in the Middle East is a noxious cocktail for currency holders and hedgers as international conversions get risky and costly. Perhaps because of this, as well as the disquieting brandishing of financial muscle by the U.S. administration, the chorus of questions about the role of the U.S. dollar as a global reserve currency is getting louder. Whats more, it has held its leadership role for almost 100 years; the average global reserve currency lifespan over the past five centuries is 95 years . Shifting balances are hinting that the dollars reign may soon be up: its share of foreign exchange reserves is over 60% , while the weight of the U.S. economy in global output has fallen to less than 25 percent and is likely to continue trending lower. Story continues Related: From Ghana to the Bronx, These Teen Bitcoiners Are Building the Future Encroaching currency competition could well gather momentum as politics starts to trump economics. Some have posited that there is a non-zero chance that bitcoin would make a great reserve currency. I disagree, I believe that there is exactly zero chance that could happen. I do think, however, that the global reserve system will radically change over the next couple of decades. Bitcoin could be a part of what emerges. What gives? First, some background on the significance of Bretton Woods and why we should be paying attention. In 1944, an agreement was drawn up between delegates from 44 nations that established the U.S. dollar as the worlds reserve currency, which would be pegged to gold. The other member nations would peg their currencies to the U.S. dollar, and the resulting relative stability between denominations would smooth world trade and boost the post-war recovery. The agreement also created the institutions of the International Monetary Fund (IMF) and the World Bank to coordinate global currency movements and channel loans to developing nations. The U.S. dollar stopped officially being the global reserve currency when President Richard Nixon took the country off the gold standard in 1971. It remained the de-facto global reserve currency, however, by dint of being the worlds largest economy and trading nation. Countries tended to hold more dollar reserves than all other foreign currencies combined, for the ease of transacting and for their relative stability. Being the global reserve currency is a mixed blessing. While it makes it easy to borrow in international markets, it takes away power to influence the domestic economy. If foreign debt holders start to believe that President Trump might encourage a devaluation of the U.S. dollar (as he has often hinted he wants to do), they would start to unload, as a devaluation would make their bonds worth less. Foreign holdings of U.S. debt currently amount to over $6 trillion, almost 30% of the outstanding total, so even a small unloading would be a shock to the market and would weaken the dollars credibility for some time to come. As well as not being able to devalue when convenient , the additional global demand for U.S. dollars stemming from its reserve currency status is keeping the dollars value high relative to other currencies, exacerbating the current account deficit, now the largest in the world. And, whatever your views on Modern Monetary Theory (which posits, among other things, that debt levels dont matter), the vulnerability of the U.S. markets to foreign investment strategies is disquieting. So much for America First. A new reserve currency? Given the growing doubts over the need for and advisability of a fiat-based, single-issuer global reserve currency, you can see why the bitcoin narrative would pop up. Surely a sovereign-free, algorithm-based alternative would be more stable and trustworthy? Perhaps, but it wont be bitcoin. First, a global currency needs to have a flexible supply. The limits on the amount of gold banks could hold was one of the main reasons the gold standard didnt work economic growth outstripped the supply of gold-backed money, and the inevitable scramble to overcome this limitation led to destabilization. Second, bitcoin will not become a universal settlement token for trading contracts. Its too volatile. While this should soften in line with greater liquidity, its unlikely that businesses and sovereign powers will give up their preference for fiat, which they have some control over. So, if not bitcoin, then what? What could an international trading currency that embodies both trustworthiness and flexibility look like? Drawing table One such model is Facebooks Libra : a basket of currencies and government debt that is periodically rebalanced and used to peg a digital token that can be used for settlement. But the whirlwind of debate around the coins purpose and backing has highlighted the strong distrust of corporate motives with global ambitions, and the simmering anti-trust scrutiny will make it difficult for any large enterprise to create a universal solution. Another such model, much more likely, is a revamped Special Drawing Right (SDR). This basket of currencies was created by the IMF in 1969 to act as a private transaction token and a store of value for members. Its value moves in line with that of the underlying currencies: the U.S. dollar, Japanese yen, euro, British pound and Chinese renminbi. Several economists have proposed the expansion of the SDRs scope for purposes of international trade, positioning it as a global reserve currency that does not depend on any one issuer and can be managed by a neutral, supra-national organization with economic stability as its main objective. The problem is, even a liquid SDR in its current configuration would be subject to national priorities and vulnerabilities. A sharp depreciation in the U.S. dollar as central banks switch to the SDR as a reserve holding could destabilize the basket. The euro is almost as significant as a global payment currency but carries an existential risk, however remote. The Chinese renminbi is still largely controlled by its government, and the British pounds future is uncertain. If only the SDR in its new liquid form could be pegged to a non-sovereign token of exchange that is totally free from political manipulation. You see where Im going with this? Other currencies would also form part of the basket, to reflect economic activity and allow flexibility in the supply. But a robust apolitical anchor could add a layer of trust, difficult to come by in an increasingly fractious trade environment. Time to talk How this mechanism would work, I dont know it would no doubt be complex and fraught with controversy, and anyone who studies currencies is aware of the colossal complications of maintaining a peg. But the building conviction that the current system is flawed and the increasingly apparent politicization of currencies will eventually shift the conversation from its too difficult to attempt to lets start talking about this. The biggest risk to the world economy right now is not trade tensions, overvalued assets or negative yields. Its complacency in assuming that the status quo will hold. Profound change always costs a massive amount of political and economic capital, but it happens regardless. None of us can be sure what the next step of financial evolution will look like but well soon find out. As economist Tyler Cowen reminds us in a recent article: Every eras monetary institutions are virtually unimaginable until they are created. Unfortunately, even getting the main participants to the table to discuss this will be a mammoth task. The Bretton Woods anniversary celebrations have given voice to papers and panels questioning the current reserve system, the role of the IMF and how to weather the economic storms ahead. Ideas and discussions are a start. But we shouldnt forget that in 1944, just after the bloodiest war in history, what brought the participants to the table in a collaborative frame of mind was fear. We can all fervently hope that it doesnt take that level of fear to get everyone to the table again. What is different this time around is that the need for a reform is becoming startlingly apparent. The discussions are involving a much broader set of participants. And bitcoin is adding a new tool to the box of potential solutions. On its own, it wont solve the most pressing issues. But combined with other tools, and aided by diplomacy, academic rigor and patience, it could well form an integral part of a new type of reserve currency, which could help smooth or even avoid the shocks to come. (Disclosure: I hold a modest amount of bitcoin with no short positions.) Bitcoin image via Shutterstock Related Stories MITs AI Lab Analyzed 200,000 Bitcoin Transactions. Only 2% Were Illicit Bitcoins Price May Be Building for a Move Back Above $11K \|\| Bitcoin Cash ABC, Litecoin and Ripple Daily Analysis 03/08/19: Bitcoin Cash ABC on the Move Bitcoin Cash ABC slipped by 0.54% on Friday. Reversing a 0.35% gain from Thursday, Bitcoin Cash ABC ended the day at $327.14. A mixed start to the day saw Bitcoin Cash ABC recover from a morning low $325 to a mid-morning intraday high $333.71. Steering clear of the major support levels, Bitcoin Cash ABC broke through the first major resistance level at $333.28. An early afternoon pullback saw Bitcoin Cash ABC fall to a late afternoon intraday low $320.69. Bitcoin Cash ABC fell through the first major support level at $322.05 before moving back to $327 levels to limit the loss on the day. At the time of writing, Bitcoin Cash ABC was up by 4.23% to $340.99. A particularly bullish morning saw Bitcoin Cash ABC rally from a morning low $327 to a high $347.39. The early rally saw Bitcoin Cash ABC break through the first major resistance level at $333.67 and second major resistance level at $340.2. For the day ahead, a hold above the second major resistance level at $340.2 would support further upside on the day. Bitcoin Cash ABC would need the support of the broader market, however, to take a run at $350 levels. An extended rally would bring the third major resistance level at $353.22 into play before any pullback. The 38.2% FIB of $359 would likely be left untested, however. Failure to hold above the second major resistance level could see Bitcoin Cash ABC slide through the first major resistance level at $333.67. Barring a broad-based crypto reversal, Bitcoin Cash ABC should steer clear of sub-$330 levels. Litecoin Finds Support Litecoin slid by 4.1% on Friday. Following on from a 0.03% fall on Thursday, Litecoin ended the day at $94.83. A choppy morning saw Litecoin recover from an early morning low $95.83 to strike a mid-morning intraday high $97.77. Litecoin fell through the first major support level at $95.92 early on, whilst falling short of the first major resistance level at $101.7. Story continues A mid-afternoon sell-off saw Litecoin slide to an intraday low $92.22 before wrapping up the day at $94 levels. The sell-off saw Litecoin slide through the first major support level at $95.92 and second major support level at $92.95. At the time of writing, Litecoin was up by 1.18% to $95.95. Another mixed start to the day saw Litecoin recover from a morning low $93.92 to strike a morning high $96.79. In spite of the choppy start to the day, Litecoin left the major support and resistance levels untested. For the day ahead, a hold above $95.3 levels would support another run at the first major resistance level at $98.47. Litecoin would need to the support of the broader market, however, to break out from this mornings high $96.79. Barring a broad-based crypto rally, the first major resistance level at $98.47 and the 38.2% FIB of $99 should limit any upside. Failure to hold above $95.3 levels could see Litecoin slide back to $92 levels before finding support. In the event of a broad-based crypto reversal, the first major support level at $91.71 would come into play. Litecoin would likely steer clear of sub-$90 levels, however. Ripples XRP Falls Short of $0.32 Ripples XRP declined by 1.68% on Friday. Following on from a 1.14% fall on Thursday, Ripples XRP ended the day at $0.31100. Recovering from an early morning low $0.31403, Ripples XRP struck a mid-morning intraday high $0.31821. Steering clear of the major support and resistance levels, Ripples XRP tumbled to a late afternoon intraday low $0.3087. Ripples XRP fell through the first major support level at $0.3125. The second major support level at $0.3088 limited the downside on the day, with Ripples XRP recovering to $0.31 levels late on. At the time of writing, Ripples XRP was up by 1.04% to $0.31423. A mixed start to the day saw Ripples XRP recover from a morning low $0.31074 to a morning high $0.3589. Ripples XRP left the major support and resistance levels untested in the early hours. For the day ahead, a hold above $0.3126 levels would support another run at the first major resistance level at $0.3166. Ripples XRP would need the support of the broader market, however, to take a run at $0.32 levels. Barring a broad-based crypto rally, the first major resistance level a $0.3166 and Fridays high $0.31821 should cap any upside. In the event of a crypto rally, the second major resistance level at $0.3221 would likely come into play. Failure to hold above $0.3126 levels could see Ripples XRP test the first major support level at $0.3071. Barring a crypto meltdown, Ripples XRP should continue to steer clear of sub-$0.30 levels. The second major support level at $0.3031 would come into play in the event of an extended sell-off, however. Please let us know what you think in the comments below Thanks, Bob This article was originally posted on FX Empire More From FXEMPIRE: USD/JPY Weekly Price Forecast the US dollar collapses against Japanese yen S&P 500 Price Forecast Stock markets get hammered Crude Oil Price Forecast Crude oil markets continue to see back and forth Bitcoin Cash ABC, Litecoin and Ripple Daily Analysis 03/08/19 Natural Gas Weekly Price Forecast Natural gas markets show signs of weakness yet again Silver Price Forecast Silver markets show resiliency again \|\| Bitcoin Cash – ABC, Litecoin and Ripple Daily Analysis – 03/08/19: Bitcoin Cash ABC slipped by 0.54% on Friday. Reversing a 0.35% gain from Thursday, Bitcoin Cash ABC ended the day at $327.14. A mixed start to the day saw Bitcoin Cash ABC recover from a morning low $325 to a mid-morning intraday high $333.71. Steering clear of the major support levels, Bitcoin Cash ABC broke through the first major resistance level at $333.28. An early afternoon pullback saw Bitcoin Cash ABC fall to a late afternoon intraday low $320.69. Bitcoin Cash ABC fell through the first major support level at $322.05 before moving back to $327 levels to limit the loss on the day. At the time of writing, Bitcoin Cash ABC was up by 4.23% to $340.99. A particularly bullish morning saw Bitcoin Cash ABC rally from a morning low $327 to a high $347.39. The early rally saw Bitcoin Cash ABC break through the first major resistance level at $333.67 and second major resistance level at $340.2. For the day ahead, a hold above the second major resistance level at $340.2 would support further upside on the day. Bitcoin Cash ABC would need the support of the broader market, however, to take a run at $350 levels. An extended rally would bring the third major resistance level at $353.22 into play before any pullback. The 38.2% FIB of $359 would likely be left untested, however. Failure to hold above the second major resistance level could see Bitcoin Cash ABC slide through the first major resistance level at $333.67. Barring a broad-based crypto reversal, Bitcoin Cash ABC should steer clear of sub-$330 levels. Litecoin slid by 4.1% on Friday. Following on from a 0.03% fall on Thursday, Litecoin ended the day at $94.83. A choppy morning saw Litecoin recover from an early morning low $95.83 to strike a mid-morning intraday high $97.77. Litecoin fell through the first major support level at $95.92 early on, whilst falling short of the first major resistance level at $101.7. A mid-afternoon sell-off saw Litecoin slide to an intraday low $92.22 before wrapping up the day at $94 levels. The sell-off saw Litecoin slide through the first major support level at $95.92 and second major support level at $92.95. At the time of writing, Litecoin was up by 1.18% to $95.95. Another mixed start to the day saw Litecoin recover from a morning low $93.92 to strike a morning high $96.79. In spite of the choppy start to the day, Litecoin left the major support and resistance levels untested. For the day ahead, a hold above $95.3 levels would support another run at the first major resistance level at $98.47. Litecoin would need to the support of the broader market, however, to break out from this morning’s high $96.79. Barring a broad-based crypto rally, the first major resistance level at $98.47 and the 38.2% FIB of $99 should limit any upside. Failure to hold above $95.3 levels could see Litecoin slide back to $92 levels before finding support. In the event of a broad-based crypto reversal, the first major support level at $91.71 would come into play. Litecoin would likely steer clear of sub-$90 levels, however. Ripple’s XRP declined by 1.68% on Friday. Following on from a 1.14% fall on Thursday, Ripple’s XRP ended the day at $0.31100. Recovering from an early morning low $0.31403, Ripple’s XRP struck a mid-morning intraday high $0.31821. Steering clear of the major support and resistance levels, Ripple’s XRP tumbled to a late afternoon intraday low $0.3087. Ripple’s XRP fell through the first major support level at $0.3125. The second major support level at $0.3088 limited the downside on the day, with Ripple’s XRP recovering to $0.31 levels late on. At the time of writing, Ripple’s XRP was up by 1.04% to $0.31423. A mixed start to the day saw Ripple’s XRP recover from a morning low $0.31074 to a morning high $0.3589. Ripple’s XRP left the major support and resistance levels untested in the early hours. For the day ahead, a hold above $0.3126 levels would support another run at the first major resistance level at $0.3166. Ripple’s XRP would need the support of the broader market, however, to take a run at $0.32 levels. Barring a broad-based crypto rally, the first major resistance level a $0.3166 and Friday’s high $0.31821 should cap any upside. In the event of a crypto rally, the second major resistance level at $0.3221 would likely come into play. Failure to hold above $0.3126 levels could see Ripple’s XRP test the first major support level at $0.3071. Barring a crypto meltdown, Ripple’s XRP should continue to steer clear of sub-$0.30 levels. The second major support level at $0.3031 would come into play in the event of an extended sell-off, however. Please let us know what you think in the comments below Thanks, Bob Thisarticlewas originally posted on FX Empire • USD/JPY Weekly Price Forecast – the US dollar collapses against Japanese yen • S&P 500 Price Forecast – Stock markets get hammered • Crude Oil Price Forecast – Crude oil markets continue to see back and forth • Bitcoin Cash – ABC, Litecoin and Ripple Daily Analysis – 03/08/19 • Natural Gas Weekly Price Forecast – Natural gas markets show signs of weakness yet again • Silver Price Forecast – Silver markets show resiliency again \|\| Bitcoin Cash – ABC, Litecoin and Ripple Daily Analysis – 03/08/19: Bitcoin Cash ABC slipped by 0.54% on Friday. Reversing a 0.35% gain from Thursday, Bitcoin Cash ABC ended the day at $327.14. A mixed start to the day saw Bitcoin Cash ABC recover from a morning low $325 to a mid-morning intraday high $333.71. Steering clear of the major support levels, Bitcoin Cash ABC broke through the first major resistance level at $333.28. An early afternoon pullback saw Bitcoin Cash ABC fall to a late afternoon intraday low $320.69. Bitcoin Cash ABC fell through the first major support level at $322.05 before moving back to $327 levels to limit the loss on the day. At the time of writing, Bitcoin Cash ABC was up by 4.23% to $340.99. A particularly bullish morning saw Bitcoin Cash ABC rally from a morning low $327 to a high $347.39. The early rally saw Bitcoin Cash ABC break through the first major resistance level at $333.67 and second major resistance level at $340.2. For the day ahead, a hold above the second major resistance level at $340.2 would support further upside on the day. Bitcoin Cash ABC would need the support of the broader market, however, to take a run at $350 levels. An extended rally would bring the third major resistance level at $353.22 into play before any pullback. The 38.2% FIB of $359 would likely be left untested, however. Failure to hold above the second major resistance level could see Bitcoin Cash ABC slide through the first major resistance level at $333.67. Barring a broad-based crypto reversal, Bitcoin Cash ABC should steer clear of sub-$330 levels. Litecoin slid by 4.1% on Friday. Following on from a 0.03% fall on Thursday, Litecoin ended the day at $94.83. A choppy morning saw Litecoin recover from an early morning low $95.83 to strike a mid-morning intraday high $97.77. Litecoin fell through the first major support level at $95.92 early on, whilst falling short of the first major resistance level at $101.7. A mid-afternoon sell-off saw Litecoin slide to an intraday low $92.22 before wrapping up the day at $94 levels. The sell-off saw Litecoin slide through the first major support level at $95.92 and second major support level at $92.95. At the time of writing, Litecoin was up by 1.18% to $95.95. Another mixed start to the day saw Litecoin recover from a morning low $93.92 to strike a morning high $96.79. In spite of the choppy start to the day, Litecoin left the major support and resistance levels untested. For the day ahead, a hold above $95.3 levels would support another run at the first major resistance level at $98.47. Litecoin would need to the support of the broader market, however, to break out from this morning’s high $96.79. Barring a broad-based crypto rally, the first major resistance level at $98.47 and the 38.2% FIB of $99 should limit any upside. Failure to hold above $95.3 levels could see Litecoin slide back to $92 levels before finding support. In the event of a broad-based crypto reversal, the first major support level at $91.71 would come into play. Litecoin would likely steer clear of sub-$90 levels, however. Ripple’s XRP declined by 1.68% on Friday. Following on from a 1.14% fall on Thursday, Ripple’s XRP ended the day at $0.31100. Recovering from an early morning low $0.31403, Ripple’s XRP struck a mid-morning intraday high $0.31821. Steering clear of the major support and resistance levels, Ripple’s XRP tumbled to a late afternoon intraday low $0.3087. Ripple’s XRP fell through the first major support level at $0.3125. The second major support level at $0.3088 limited the downside on the day, with Ripple’s XRP recovering to $0.31 levels late on. At the time of writing, Ripple’s XRP was up by 1.04% to $0.31423. A mixed start to the day saw Ripple’s XRP recover from a morning low $0.31074 to a morning high $0.3589. Ripple’s XRP left the major support and resistance levels untested in the early hours. For the day ahead, a hold above $0.3126 levels would support another run at the first major resistance level at $0.3166. Ripple’s XRP would need the support of the broader market, however, to take a run at $0.32 levels. Barring a broad-based crypto rally, the first major resistance level a $0.3166 and Friday’s high $0.31821 should cap any upside. In the event of a crypto rally, the second major resistance level at $0.3221 would likely come into play. Failure to hold above $0.3126 levels could see Ripple’s XRP test the first major support level at $0.3071. Barring a crypto meltdown, Ripple’s XRP should continue to steer clear of sub-$0.30 levels. The second major support level at $0.3031 would come into play in the event of an extended sell-off, however. Please let us know what you think in the comments below Thanks, Bob Thisarticlewas originally posted on FX Empire • USD/JPY Weekly Price Forecast – the US dollar collapses against Japanese yen • S&P 500 Price Forecast – Stock markets get hammered • Crude Oil Price Forecast – Crude oil markets continue to see back and forth • Bitcoin Cash – ABC, Litecoin and Ripple Daily Analysis – 03/08/19 • Natural Gas Weekly Price Forecast – Natural gas markets show signs of weakness yet again • Silver Price Forecast – Silver markets show resiliency again \|\| Apple Card will not allow purchase of cryptocurrencies: By Stephen Nellis (Reuters) - The Apple Inc <AAPL.O> credit card being launched with Goldman Sachs Group Inc <GS.N> will not allow the purchase of cryptocurrencies with the card, according to a customer agreement posted to Goldman's website on Friday. The Apple Card customer agreement said the card cannot be used to purchase cash advances or cash equivalents that include cryptocurrencies, casino gaming chips, race track wagers or lottery tickets. Goldman declined to comment and Apple did not immediately respond to request for comment. The Apple Card is part of a broader effort by Apple to derive more of its revenue from services after years of heavily reliance on iPhone sales, which declined 12% in the most recent quarter. For Goldman's part, the Apple partnership is part of the longtime investment bank's effort to build out a consumer-facing business. Apple and Goldman are not alone in banning the purchase of cryptocurrency such as Bitcoin with credit cards. Major American and British banks Lloyds Banking Group Plc <LLOY.L> and Virgin Money <VM.L> banned such purchases https://www.reuters.com/article/us-lloyds-bank-uk-bitcoin-idUSKBN1FO0UL last year, following the lead of U.S. banking giants JP Morgan Chase & Co <JPM.N> and Citigroup <C.N>. The banks were concerned that volatile prices could leave consumers saddled with debts they could not repay. (Reporting by Stephen Nellis; Editing by Will Dunham) \|\| Apple Card will not allow purchase of cryptocurrencies: By Stephen Nellis (Reuters) - The Apple Inc <AAPL.O> credit card being launched with Goldman Sachs Group Inc <GS.N> will not allow the purchase of cryptocurrencies with the card, according to a customer agreement posted to Goldman's website on Friday. The Apple Card customer agreement said the card cannot be used to purchase cash advances or cash equivalents that include cryptocurrencies, casino gaming chips, race track wagers or lottery tickets. Goldman declined to comment and Apple did not immediately respond to request for comment. The Apple Card is part of a broader effort by Apple to derive more of its revenue from services after years of heavily reliance on iPhone sales, which declined 12% in the most recent quarter. For Goldman's part, the Apple partnership is part of the longtime investment bank's effort to build out a consumer-facing business. Apple and Goldman are not alone in banning the purchase of cryptocurrency such as Bitcoin with credit cards. Major American and British banks Lloyds Banking Group Plc <LLOY.L> and Virgin Money <VM.L> banned such purchases https://www.reuters.com/article/us-lloyds-bank-uk-bitcoin-idUSKBN1FO0UL last year, following the lead of U.S. banking giants JP Morgan Chase & Co <JPM.N> and Citigroup <C.N>. The banks were concerned that volatile prices could leave consumers saddled with debts they could not repay. (Reporting by Stephen Nellis; Editing by Will Dunham) \|\| Apple Card will not allow purchase of cryptocurrencies: By Stephen Nellis (Reuters) - The Apple Inc <AAPL.O> credit card being launched with Goldman Sachs Group Inc <GS.N> will not allow the purchase of cryptocurrencies with the card, according to a customer agreement posted to Goldman's website on Friday. The Apple Card customer agreement said the card cannot be used to purchase cash advances or cash equivalents that include cryptocurrencies, casino gaming chips, race track wagers or lottery tickets. Goldman declined to comment and Apple did not immediately respond to request for comment. The Apple Card is part of a broader effort by Apple to derive more of its revenue from services after years of heavily reliance on iPhone sales, which declined 12% in the most recent quarter. For Goldman's part, the Apple partnership is part of the longtime investment bank's effort to build out a consumer-facing business. Apple and Goldman are not alone in banning the purchase of cryptocurrency such as Bitcoin with credit cards. Major American and British banks Lloyds Banking Group Plc <LLOY.L> and Virgin Money <VM.L> banned such purchases https://www.reuters.com/article/us-lloyds-bank-uk-bitcoin-idUSKBN1FO0UL last year, following the lead of U.S. banking giants JP Morgan Chase & Co <JPM.N> and Citigroup <C.N>. The banks were concerned that volatile prices could leave consumers saddled with debts they could not repay. (Reporting by Stephen Nellis; Editing by Will Dunham) \|\| Apple Card will not allow purchase of cryptocurrencies: By Stephen Nellis (Reuters) - The Apple Inc <AAPL.O> credit card being launched with Goldman Sachs Group Inc <GS.N> will not allow the purchase of cryptocurrencies with the card, according to a customer agreement posted to Goldman's website on Friday. The Apple Card customer agreement said the card cannot be used to purchase cash advances or cash equivalents that include cryptocurrencies, casino gaming chips, race track wagers or lottery tickets. Goldman declined to comment and Apple did not immediately respond to request for comment. The Apple Card is part of a broader effort by Apple to derive more of its revenue from services after years of heavily reliance on iPhone sales, which declined 12% in the most recent quarter. For Goldman's part, the Apple partnership is part of the longtime investment bank's effort to build out a consumer-facing business. Apple and Goldman are not alone in banning the purchase of cryptocurrency such as Bitcoin with credit cards. Major American and British banks Lloyds Banking Group Plc <LLOY.L> and Virgin Money <VM.L> banned such purchases https://www.reuters.com/article/us-lloyds-bank-uk-bitcoin-idUSKBN1FO0UL last year, following the lead of U.S. banking giants JP Morgan Chase & Co <JPM.N> and Citigroup <C.N>. The banks were concerned that volatile prices could leave consumers saddled with debts they could not repay. (Reporting by Stephen Nellis; Editing by Will Dunham) \|\| The Huge Gains You’re Missing: Look at the chart below. I’ve whited-out the name of the underlying investment. Any guess as to what it is? Perhaps a high-flying tech stock? Something 5G-related? Or perhaps a marijuana company? You’d be surprised … InvestorPlace - Stock Market News, Stock Advice & Trading Tips The chart above belongs to the Invesco Solar ETF ( TAN ). And it just had a big breakout. This week, it climbed over 8%. And it’s up more than 70% since its December low. And remember — this is for an ETF, which means it holds a basket of solar stocks. For an entire group of stocks to climb a collective 70%+ in such a short period of time is highly unusual. Better yet, if we narrow in on specific solar leaders, the gains are even more amazing. For example, here’s SunPower — look at the staggering price breakout yesterday. It shot up as much as 37% at one point. And since its December low, it’s pushed higher 223%. Look how it’s blown away the S&P … As I write Friday morning, it’s up another 3%. No one else is talking about this yet, but here’s the reality … Solar is making people rich. Yet very few investors realize this is happening … which means there’s still plenty of room for huge gains. For many years, solar stocks lagged behind the broad market. But I’m confident we’ll look back at April/May of 2019 and say that’s when investors “flipped the switch …” That’s when the age of Solar Stock Millionaires began … when, with little fanfare, a massive wave of wealth creation began to form … when people started making fortunes from one of the biggest energy revolutions in human history. People will lament missing out on it just like they missed out on Amazon, Netflix, Bitcoin, and cannabis. But you’re here, reading this right now, at the right time — on the ground floor. This is a chance to be a part of solar’s ascendency … from the beginning. Story continues Here at InvestorPlace , we’re thrilled to feature one of the preeminent solar investors in the industry — Eric Fry, editor of Fry’s Investment Report . He’s been recommending solar to his readers for many months now … and yes, he has them in on SunPower, so they’re benefitting from yesterday’s pop. Eric’s experience with macro trends has helped him call nearly every significant market move of the past 25 years … and he’s made more stock recommendations that resulted in 1,000%+ gains than anyone we know in the financial newsletter industry. Given this, he now has the nickname, “Mr. 1,000%.” So, in today’s Digest , we’re turning to Chris Skokna, who works closely with Eric. He’s put together a piece featuring Eric’s solar research. Solar’s time has come. Don’t let this one pass you by. Jeff Remsburg The Hidden Reason America’s Most Hated Technology Is Surging Imagine if more than half of all the cars ever manufactured were sold in just the past three years. Buy Detroit, right? Or imagine if more than half of all the software ever sold had been installed just since 2016. I don’t know about you, but if I heard that, I’d be moving even more of my money into Silicon Valley. Well, a statistic like that is taking shape right before our very eyes. But too many investors are ignoring it because they “hate” this technology. I’m talking about solar power. Now maybe you were one of those mid-2010s investors who got burned by SunEdison Inc. They watched their shares soar 2,000% on hype and hope, only to plummet to nearly zero and get delisted from the New York Stock Exchange once the reality of falling prices and no profits kicked in. That’s just one of many solar flameouts in the recent past. And that’s on top of many politicians bad-mouthing solar tech every chance they get. No wonder it’s so hated. But things are changing. Here’s what InvestorPlace Chief Global Investing Strategist Eric Fry has to say about the renewable power source’s profit prospects. “The solar industry is gaining momentum,” he says. “And that momentum is building at the exact same moment that global demand for solar power is about to go parabolic.” Check this out … According to “Solar Means Business,” a newly released report by the Solar Energy Industries Association (SEIA), “2018 ranks as the second-largest year for commercial solar installations, with 1,144 [megawatts] MW installed” and “More than half of all corporate solar capacity has been installed in the last three years.” Source: Solar Energy Industries Association I first came across this data in an article on Forbes.com . It was a pretty good article, highlighting the fact that huge corporations like Amazon.com Inc. ( AMZN ), Apple Inc. (AAPL), and Walmart Inc. ( WMT ) are pouring huge amounts of dollars into solar. Apple, the article notes, leads all corporate solar users, with 393 MW installed over the past three years. And commercial solar adoption is accelerating, according to the article, for three main reasons … • Declining costs • More flexible financing • Renewable energy-friendly state and local policies However, that’s not entirely true, Eric tells me. While those three items are indeed drivers behind solar’s rise, none is the main catalyst, he says. In fact, Eric says, “the mainstream media often misses this ‘hidden’ reason behind solar’s arrival” as a dependable, affordable energy source for corporations- and as a moneymaking opportunity for investors. “You see, a powerful new ‘X factor’ has entered the solar energy market,” he says. “And it has the potential to supercharge demand. That X factor is energy storage — batteries.” Until recently, solar-power installations lacked the ability to store energy. “They were simply use-it-or-lose-it power generators,” Eric says. “Energy storage technologies were too expensive to be viable additions to solar-power facilities.” But this old story is changing rapidly. Energy storage has arrived – and its arrival could be a very big deal for the solar industry. Looking globally, he says, the deployment of battery-based energy storage solutions (BESS) is ramping up quickly. According to JPMorgan, the cumulative installed base of BESS will soar 100-fold between now and 2030. To see how we’re getting there, Eric wants us to take a trip — to Hawaii … Profit in Paradise … “In the olden days of 2015, a company like Target Corp. ( TGT ) would contract with a solar company to install solar panels on the roofs of its superstores,” Eric says. “Once installed, the panels would deliver daytime electricity to supplement the electricity Target pulled from the regional power grid.” But now, he says, when Target installs new rooftop panels, it often also installs a battery system to store the excess energy it doesn’t use immediately. Eric points out that in 2017, Target kicked off its solar-storage project at its store in Kailua-Kona, on the big island of Hawaii’s east coast. There it installed a 910-kilowatt solar system from SunPower Corp. ( SPWR ) that included a 250-kilowatt energy storage component. “This may have been the first time a Target store had added energy storage to solar — but it won’t be the last,” Eric says. “On emerging trends in energy innovation,” the giant retailer stated, “we see energy storage as an integral tool to increasing our renewable energy consumption and improving resiliency at stores in climate-impacted communities.” By the end of this year, Target expects to install rooftop solar systems on more than 500 store locations. According to the SEIA report, Target is the third-biggest corporate solar user, with 242 MW installed 2016-’18. And by 2030, the company plans to produce 100% of its energy needs from renewable sources. “This storage component of the renewable energy industry is the new-new thing,” Eric says. “And it has the potential to deliver big-big growth to SunPower and other solar companies that take advantage.” This energy storage boom is increasing demand for new solar installations — and increasing the revenue-per-installation for companies like SunPower. It announced recently that one-third of its order backlog includes solar-plus-storage, and that these installs generate about 40% more revenue than ones without storage. … and Beyond Utilities are also embracing energy storage, Eric says. Increasingly, they are opting to add new generating capacity by building energy-plus-storage facilities, rather than gas- or coal-fired power plants. Last year, for example, the Arizona Public Service Co. ( APS ) committed to deploying 850 megawatts (MW) of energy storage over the next six years. Along the same lines, NextEra Energy Inc. ( NEE ) announced plans to deploy a 409 MW solar-plus-storage solution at Florida Power & Light Co., replacing two gas-fired power plants. “Here’s the bottom line,” Eric says. “Solar power is big — and getting much bigger.” At the end of 2018, the world’s installed capacity of solar-power generation totaled nearly half a billion megawatts — accounting for more than 7% of the globe’s power capacity. “In April of this year, for the first time ever, solar power generated more electricity in the United States than coal-fired power plants,” he says. “This landmark achievement was no fluke. This is going to keep happening with more and more frequency.” As this chart shows, coal power has been trending lower for many years, while solar power has been trending higher. Moreover, new capacity installations are on track to soar 25% this year, according to Bloomberg New Energy Finance, and to nearly double by 2021. According to the International Energy Agency’s (IEA) “Sustainable Development Scenario,” solar-power capacity will soar fivefold between now and 2025, accounting for a whopping 38% of global power generation. Looking further out, the IEA anticipates a 13-fold increase in solar-power capacity by 2040, at which point this renewable source would be providing two-thirds of the world’s power needs. “The IEA anticipates global spending on solar power to total $4 trillion over the next two decades — or about $180 billion per year,” Eric says. “If investment of this magnitude were to occur, solar power would become the world’s primary electricity source by 2040.” But you don’t have to wait 20 years to profit on this trend. By then, it could be too late — long after this spectacular growth trend has slowed. There are a lot of companies out there that are jumping on the solar bandwagon, and there is clearly a lot of investing potential here, but it’s all about finding the right companies that offer significant long-term potential. That’s why Eric recently released a special “all solar” edition of his brand-new newsletter — Fry’s Investment Report . In it, he shares two recommendations — and a whole lot of research –to get investors in on this technology’s profit ground floor. To learn more, I hope you’ll go here to find out how to join Fry’s Investment Report . Take care, Christopher Skokna Senior Managing Editor, Fry’s Investment Report The post The Huge Gains You’re Missing appeared first on InvestorPlace . \|\| The Huge Gains You’re Missing: Look at the chart below. I’ve whited-out the name of the underlying investment. Any guess as to what it is? Perhaps a high-flying tech stock? Something 5G-related? Or perhaps a marijuana company? You’d be surprised … InvestorPlace - Stock Market News, Stock Advice & Trading Tips The chart above belongs to theInvesco Solar ETF(TAN). And it just had a big breakout. This week, it climbed over 8%. And it’s up more than 70% since its December low. And remember — this is for an ETF, which means it holds a basket of solar stocks. For an entire group of stocks to climb a collective 70%+ in such a short period of time is highly unusual. Better yet, if we narrow in on specific solar leaders, the gains are even more amazing. For example, here’s SunPower — look at the staggering price breakout yesterday. It shot up as much as 37% at one point. And since its December low, it’s pushed higher 223%. Look how it’s blown away the S&P … As I write Friday morning, it’s up another 3%. No one else is talking about this yet, but here’s the reality … Solar is making people rich. Yet very few investors realize this is happening … which means there’s still plenty of room for huge gains. For many years, solar stocks lagged behind the broad market. But I’m confident we’ll look back at April/May of 2019 and say that’s when investors “flipped the switch …” That’s when the age of Solar Stock Millionaires began … when, with little fanfare, a massive wave of wealth creation began to form … when people started making fortunes from one of the biggest energy revolutions in human history. People will lament missing out on it just like they missed out on Amazon, Netflix, Bitcoin, and cannabis. But you’re here, reading this right now, at the right time — on the ground floor. This is a chance to be a part of solar’s ascendency … from the beginning. Here atInvestorPlace, we’re thrilled to feature one of the preeminent solar investors in the industry — Eric Fry, editor ofFry’s Investment Report. He’s been recommending solar to his readers for many months now … and yes, he has them in on SunPower, so they’re benefitting from yesterday’s pop. Eric’s experience with macro trends has helped him call nearly every significant market move of the past 25 years … and he’s made more stock recommendations that resulted in 1,000%+ gains than anyone we know in the financial newsletter industry. Given this, he now has the nickname, “Mr. 1,000%.” So, in today’sDigest, we’re turning to Chris Skokna, who works closely with Eric. He’s put together a piece featuring Eric’s solar research. Solar’s time has come. Don’t let this one pass you by. Jeff Remsburg The Hidden Reason America’s Most Hated Technology Is Surging Imagine if more than half of all the cars ever manufactured were sold in just the past three years. Buy Detroit, right? Or imagine if more than half of all the software ever sold had been installed just since 2016. I don’t know about you, but if I heard that, I’d be moving even more of my money into Silicon Valley. Well, a statistic like that is taking shape right before our very eyes. But too many investors are ignoring it because they “hate” this technology. I’m talking about solar power. Now maybe you were one of those mid-2010s investors who got burned by SunEdison Inc. They watched their shares soar 2,000% on hype and hope, only to plummet to nearly zero and get delisted from the New York Stock Exchange once the reality of falling prices and no profits kicked in. That’s just one of many solar flameouts in the recent past. And that’s on top of many politicians bad-mouthing solar tech every chance they get. No wonder it’s so hated. But things are changing. Here’s whatInvestorPlaceChief Global Investing Strategist Eric Fry has to say about the renewable power source’s profit prospects. “The solar industry is gaining momentum,” he says. “And that momentum is building at the exact same moment that global demand for solar power is about to go parabolic.” Check this out … According to “Solar Means Business,” a newly released report by the Solar Energy Industries Association (SEIA), “2018 ranks as the second-largest year for commercial solar installations, with 1,144 [megawatts] MW installed” and “More than half of all corporate solar capacity has been installed in the last three years.” Source: Solar Energy Industries Association I first came across this data in an article onForbes.com. It was a pretty good article, highlighting the fact that huge corporations likeAmazon.com Inc.(AMZN), Apple Inc. (AAPL), andWalmart Inc.(WMT) are pouring huge amounts of dollars into solar. Apple, the article notes, leads all corporate solar users, with 393 MW installed over the past three years. And commercial solar adoption is accelerating, according to the article, for three main reasons … • Declining costs• More flexible financing• Renewable energy-friendly state and local policies However, that’s not entirely true, Eric tells me. While those three items are indeed drivers behind solar’s rise, none is the main catalyst, he says. In fact, Eric says, “the mainstream media often misses this ‘hidden’ reason behind solar’s arrival” as a dependable, affordable energy source for corporations- and as a moneymaking opportunity for investors. “You see, a powerful new ‘X factor’ has entered the solar energy market,” he says. “And it has the potential to supercharge demand. That X factor is energy storage — batteries.” Until recently, solar-power installations lacked the ability to store energy. “They were simply use-it-or-lose-it power generators,” Eric says. “Energy storage technologies were too expensive to be viable additions to solar-power facilities.” But this old story is changing rapidly. Energy storage has arrived – and its arrival could be a very big deal for the solar industry. Looking globally, he says, the deployment of battery-based energy storage solutions (BESS) is ramping up quickly. According to JPMorgan, the cumulative installed base of BESS will soar 100-fold between now and 2030. To see how we’re getting there, Eric wants us to take a trip — to Hawaii … Profit in Paradise … “In the olden days of 2015, a company likeTarget Corp.(TGT) would contract with a solar company to install solar panels on the roofs of its superstores,” Eric says. “Once installed, the panels would deliver daytime electricity to supplement the electricity Target pulled from the regional power grid.” But now, he says, when Target installs new rooftop panels, it often also installs a battery system to store the excess energy it doesn’t use immediately. Eric points out that in 2017, Target kicked off its solar-storage project at its store in Kailua-Kona, on the big island of Hawaii’s east coast. There it installed a 910-kilowatt solar system fromSunPower Corp.(SPWR) that included a 250-kilowatt energy storage component. “This may have been the first time a Target store had added energy storage to solar — but it won’t be the last,” Eric says. “On emerging trends in energy innovation,” the giant retailer stated, “we see energy storage as an integral tool to increasing our renewable energy consumption and improving resiliency at stores in climate-impacted communities.” By the end of this year, Target expects to install rooftop solar systems on more than 500 store locations. According to the SEIA report, Target is the third-biggest corporate solar user, with 242 MW installed 2016-’18. And by 2030, the company plans to produce 100% of its energy needs from renewable sources. “This storage component of the renewable energy industry is the new-new thing,” Eric says. “And it has the potential to deliver big-big growth to SunPower and other solar companies that take advantage.” This energy storage boom is increasing demand for new solar installations —andincreasing the revenue-per-installation for companies like SunPower. It announced recently that one-third of its order backlog includes solar-plus-storage, and that these installs generate about 40% more revenue than ones without storage. … and Beyond Utilities are also embracing energy storage, Eric says. Increasingly, they are opting to add new generating capacity by building energy-plus-storage facilities, rather than gas- or coal-fired power plants. Last year, for example, theArizona Public Service Co.(APS) committed to deploying 850 megawatts (MW) of energy storage over the next six years. Along the same lines,NextEra Energy Inc.(NEE) announced plans to deploy a 409 MW solar-plus-storage solution at Florida Power & Light Co., replacing two gas-fired power plants. “Here’s the bottom line,” Eric says. “Solar power is big — and getting much bigger.” At the end of 2018, the world’s installed capacity of solar-power generation totaled nearly half a billion megawatts — accounting for more than 7% of the globe’s power capacity. “In April of this year, for the first time ever, solar power generated more electricity in the United States than coal-fired power plants,” he says. “This landmark achievement was no fluke. This is going to keep happening with more and more frequency.” As this chart shows, coal power has been trending lower for many years, while solar power has been trending higher. Moreover, new capacity installations are on track to soar 25% this year, according to Bloomberg New Energy Finance, and to nearly double by 2021. According to the International Energy Agency’s (IEA) “Sustainable Development Scenario,” solar-power capacity will soar fivefold between now and 2025, accounting for a whopping 38% of global power generation. Looking further out, the IEA anticipates a 13-fold increase in solar-power capacity by 2040, at which point this renewable source would be providingtwo-thirdsof the world’s power needs. “The IEA anticipates global spending on solar power to total $4 trillion over the next two decades — or about $180 billion per year,” Eric says. “If investment of this magnitude were to occur, solar power would become the world’s primary electricity source by 2040.” But you don’t have to wait 20 years to profit on this trend. By then, it could be too late — long after this spectacular growth trend has slowed. There are a lot of companies out there that are jumping on the solar bandwagon, and there is clearly a lot of investing potential here, but it’s all about finding therightcompanies that offer significant long-term potential. That’s why Eric recently released a special “all solar” edition of his brand-new newsletter —Fry’s Investment Report. In it, he shares two recommendations — and a whole lot of research –to get investors in on this technology’s profit ground floor. To learn more, I hope you’llgo hereto find out how to joinFry’s Investment Report. Take care, Christopher SkoknaSenior Managing Editor,Fry’s Investment Report The postThe Huge Gains You’re Missingappeared first onInvestorPlace. \|\| Bitcoin.com to Launch an Exchange: Bitcoin.com has announced it will launch a crypto exchange called Exchange.Bitcoin.com . Price of BCH last 30 days via CoinDesk data . This is the latest addition to a suite of products Bitcoin.com provides beyond their news service. The company has also developed a crypto casino, a wallet, and a P2P bitcoin cash exchange, aimed at furthering the utility of the forked alternative to bitcoin. While our company thinks the bitcoin cash network will be adopted by the masses worldwide, we also think its important to promote free markets and choice, the company said in a statement. Related: Roger Ver Steps Into Chairman Role as Bitcoin.com Adds New CEO Expected to launch in early September, the exchange will list many of the largest capitalized coins including bitcoin, ethereum, and litecoin. Additionally, it plans to offer around 50 trading pairs, as well as Simple Ledger Protocol (SLP) tokens tied to the BCH blockchain. Former CEO and proponent of bitcoin cash Roger Ver said: Were on the cusp of something very exciting with SLP tokens Its the beginning of a world where we can tokenize anything and, as people realize the potential this holds, theyre going to start demanding a place to trade their tokens. Ver recently stepped down as CEO of Bitcoin.com. Related: Judge Rules for Roger Ver in Craig Wright Libel Lawsuit Image via Shutterstock. Related Stories Monarch Unveils a Marketplace and Crypto Trading Platform Even at $30, Bitcoin Was More Exciting Than Poker \|\| Bitcoin.com to Launch an Exchange: Bitcoin.com has announced it will launch a crypto exchange calledExchange.Bitcoin.com. Price of BCH last 30 days viaCoinDesk data. This is the latest addition to a suite of productsBitcoin.comprovides beyond their news service. The company has also developed a crypto casino, a wallet, and a P2Pbitcoin cashexchange, aimed at furthering the utility of the forked alternative to bitcoin. “While our company thinks the bitcoin cash network will be adopted by the masses worldwide, we also think it’s important to promote free markets and choice,” the company said in a statement. Related:Roger Ver Steps Into Chairman Role as Bitcoin.com Adds New CEO Expected to launch in early September, the exchange will list many of the largest capitalized coins including bitcoin, ethereum, and litecoin. Additionally, it plans to offer around 50 trading pairs, as well asSimple Ledger Protocol(SLP) tokens tied to the BCH blockchain. Former CEO and proponent of bitcoin cash Roger Ver said: “We’re on the cusp of something very exciting with SLP tokens — It’s the beginning of a world where we can tokenize anything and, as people realize the potential this holds, they’re going to start demanding a place to trade their tokens.” Ver recentlystepped downas CEO of Bitcoin.com. Related:Judge Rules for Roger Ver in Craig Wright Libel Lawsuit Image via Shutterstock. • Monarch Unveils a Marketplace and Crypto Trading Platform • Even at $30, Bitcoin Was More Exciting Than Poker [Social Media Buzz] @APompliano The ugly tie that doesn't lie \|\| Always watching Bitcoin, don’t let this price jump get away from you. Catch it before it’s too late 🙌🏻 https://t.co/bkY7rInNdE \|\| @TareqMahamud109 @Zalxthereum @Raza88308739 @VinDAXOfficial @Parvezjumo3 @CryptoNewsIndia @MichaelSuppo @lopp @APompliano @ardctss @Bitcoin https://t.co/lgdzV28YGM \|\| Great article Dan @CrytoCoins https://t.co/ycEGPsvylI \|\| @EdLatimore Avoiding debt with the loose monetary policy of the Fed and all the $$$ printing ain’t ea...	11805.65, 11478.17, 11941.97, 11966.41, 11862.94, 11354.02, 11523.58, 11382.62, 10895.83, 10051.70
Given the historical Bitcoin prices from the last 90 days, predict the next 10 daily closing prices. The historical prices are: 6453.72, 6385.62, 6409.22, 6411.27, 6371.27, 6359.49, 5738.35, 5648.03, 5575.55, 5554.33, 5623.54, 4871.49, 4451.87, 4602.17, 4365.94, 4347.11, 3880.76, 4009.97, 3779.13, 3820.72, 4257.42, 4278.85, 4017.27, 4214.67, 4139.88, 3894.13, 3956.89, 3753.99, 3521.10, 3419.94, 3476.11, 3614.23, 3502.66, 3424.59, 3486.95, 3313.68, 3242.48, 3236.76, 3252.84, 3545.86, 3696.06, 3745.95, 4134.44, 3896.54, 4014.18, 3998.98, 4078.60, 3815.49, 3857.30, 3654.83, 3923.92, 3820.41, 3865.95, 3742.70, 3843.52, 3943.41, 3836.74, 3857.72, 3845.19, 4076.63, 4025.25, 4030.85, 4035.30, 3678.92, 3687.37, 3661.30, 3552.95, 3706.05, 3630.68, 3655.01, 3678.56, 3657.84, 3728.57, 3601.01, 3576.03, 3604.58, 3585.12, 3600.87, 3599.77, 3602.46, 3583.97, 3470.45, 3448.12, 3486.18, 3457.79, 3487.95, 3521.06, 3464.01, 3459.15, 3466.36.	[Bitcoin Technical Analysis for 2019-02-05] Volume: 5227549545, RSI (14-day): 40.02, 50-day EMA: 3762.08, 200-day EMA: 5198.43 [Wider Market Context] Gold Price: 1314.20, Gold RSI: 68.83 Oil Price: 53.66, Oil RSI: 54.92 [Recent News (last 7 days)] BitTorrent’s Token Price Spikes 600 Percent Since ICO: BitTorrent token’s (BTT) price has gone up over 600 percent since its initial coin offering (ICO) which sold out in minutes, according to the data fromCoinMarketCapon Feb. 4. Peer-to-peer torrent clientBitTorrent, which allows users to distribute files over the InternetlauncheditsTron-based native token BTT in the beginning of January. BTT is purportedly part of a broader ambition to build a decentralized content distribution platform using the digital currency. On Jan. 28, the BTT sale on theBinanceLaunchpad platform made headlines,netting$7.1 million dollars with the sale of 50 billion tokens in under 15 minutes. Tron CEO and founder Justin Sun officially announced then that all 23.76 billion BTT had been sold within 13 minutes and 25 seconds at a price of $0.00012 per token. As press time, BTT is trading around $0.000885, a 629 percent price hike since the ICO and a 47 percent increase over the last 24 hours. The coin’s trading volume over the last day is around $360 million, while its total supply is 990 billion BTT. BitTorrent token historical price chart. Source:CoinMarketCap For the same period, the leading digital currency by market capitalization Bitcoin (BTC) has lost around three percent, the second largest coin Ripple (XRP) has gained around 3.4 percent, while Ethereum (ETH) has increased by around 2.8 percent, per data from CoinMarketCap. • BitTorrent Tokens Sold Out in Under 15 Minutes, Netting Over $7 Mln • SBI Reports Financial Results, Recognizes Ripple for Cross Border Payments • World’s Largest Gun Auction Site GunBroker.com to Add Stablecoin ‘FreedomCoin’ • ETH Co-Founder Gavin Wood’s Blockchain Protocol Plans $60 Million Second Token Sale: WSJ \|\| BitTorrents Token Price Spikes 600 Percent Since ICO: BitTorrent tokens (BTT) price has gone up over 600 percent since its initial coin offering ( ICO ) which sold out in minutes, according to the data from CoinMarketCap on Feb. 4. Peer-to-peer torrent client BitTorrent , which allows users to distribute files over the Internet launched its Tron -based native token BTT in the beginning of January. BTT is purportedly part of a broader ambition to build a decentralized content distribution platform using the digital currency. On Jan. 28, the BTT sale on the Binance Launchpad platform made headlines, netting $7.1 million dollars with the sale of 50 billion tokens in under 15 minutes. Tron CEO and founder Justin Sun officially announced then that all 23.76 billion BTT had been sold within 13 minutes and 25 seconds at a price of $0.00012 per token. As press time, BTT is trading around $0.000885, a 629 percent price hike since the ICO and a 47 percent increase over the last 24 hours. The coins trading volume over the last day is around $360 million, while its total supply is 990 billion BTT. BitTorrent token historical price chart. Source: CoinMarketCap For the same period, the leading digital currency by market capitalization Bitcoin ( BTC ) has lost around three percent, the second largest coin Ripple ( XRP ) has gained around 3.4 percent, while Ethereum ( ETH ) has increased by around 2.8 percent, per data from CoinMarketCap. Related Articles: BitTorrent Tokens Sold Out in Under 15 Minutes, Netting Over $7 Mln SBI Reports Financial Results, Recognizes Ripple for Cross Border Payments Worlds Largest Gun Auction Site GunBroker.com to Add Stablecoin FreedomCoin ETH Co-Founder Gavin Woods Blockchain Protocol Plans $60 Million Second Token Sale: WSJ \|\| Bitcoin Price Trades Sideways as Crypto Market Pines for More Volatility: Here’s something you don’t say every day about Bitcoin and the wider cryptocurrency markets: where did the volatility go? We’ve spent the past few weeks looking at nearly the same charts every day. Bitcoin goes up a little, goes down a little more, gets back to where it was by the end of the week. Predictability is nice for adoption and acquisition, but it’s not what traders are looking for. Thus, if we rank the top cryptocurrencies by volume traded, things change around a little. As you may have noticed, Bitcoin Cash and Bitcoin SV fall straight out of the top 5. Ranking cryptos by volume traded is an interesting way to change the perspective. Read the full story onCCN.com. \|\| Bitcoin Price Trades Sideways as Crypto Market Pines for More Volatility: Here’s something you don’t say every day about Bitcoin and the wider cryptocurrency markets: where did the volatility go? We’ve spent the past few weeks looking at nearly the same charts every day. Bitcoin goes up a little, goes down a little more, gets back to where it was by the end of the week. Predictability is nice for adoption and acquisition, but it’s not what traders are looking for. Thus, if we rank the top cryptocurrencies by volume traded, things change around a little. As you may have noticed, Bitcoin Cash and Bitcoin SV fall straight out of the top 5. Ranking cryptos by volume traded is an interesting way to change the perspective. Read the full story onCCN.com. \|\| Bitcoin Price Trades Sideways as Crypto Market Pines for More Volatility: bitcoin price stuck gum Heres something you dont say every day about Bitcoin and the wider cryptocurrency markets: where did the volatility go? Weve spent the past few weeks looking at nearly the same charts every day. Crypto Market Disturbingly Quiet Bitcoin goes up a little, goes down a little more, gets back to where it was by the end of the week. Predictability is nice for adoption and acquisition, but its not what traders are looking for. Thus, if we rank the top cryptocurrencies by volume traded, things change around a little. As you may have noticed, Bitcoin Cash and Bitcoin SV fall straight out of the top 5. bitcoin crypto trading volume Ranking cryptos by volume traded is an interesting way to change the perspective. Read the full story on CCN.com . View comments \|\| A Court Date for QuadrigaCX: What to Expect at Tomorrow’s Hearing: The troubled crypto exchange QuadrigCX has appealed for creditor protection, setting the stage for a significant court hearing on Feb. 5 in Canada. Last Thursday, the exchange’s appeal was made before the Nova Scotia Supreme Court, with QuadrigaCX claiming that doesn’t have accessto walletscontaining some $137 million (U.S. dollars) in cryptocurrency. As such, it has claimed to be unable to repay more than 115,000 customers who are owed funds â and creditor protection is being sought to forestall any lawsuits while it attempts to find a solution. To that end, QuadrigaCX is seeking to have professional services firm EY oversee its proceedings. Tuesday’s hearing, at 830 a.m. EST, will see the companies go before the court. QuadrigaCX Owes Customers $190 Million, Court Filing Shows Christine Duhaime, a financial crimes attorney and managing partner with Duhaime Law, told CoinDesk that the most likely outcome during the hearing will be that a monitor â in this case, likely Ernst and Young â will be appointed. Quadrigaâs filing was not just for a monitor, however. Applying for creditor protection means it is trying to prevent customers from suing to recover lost funds, she noted. Duhaime explained: âThere are many unanswered questions though, for example, why have the wallet addresses not been disclosed? As you know in Bitcoin world, people know the pooled wallet addresses of exchanges â its not confidential or business information so thatâs an unanswered question that a Court eventually will have to address. Someone is eventually going to bring an application for disclosure of all the wallet addresses.â Crypto Exchange QuadrigaCX Files for Creditor Protection âTransparency is going to be critical for Quadriga and providing the wallets addresses is the first step to transparency,â she added. The professional services firm EY has already submitted an initial report after discussing the situation with QuadrigaCX, according to a filing obtained by CoinDesk. âThe Proposed Monitor understands that Quadriga is experiencing a liquidity crisis and has been unable to satisfy withdrawal requests from users. Additionally, Quadriga has been unable to locate a significant amount of cryptocurrency following the death of the Applicantsâ founder and Chief Executive Officer, Gerald Cotten,â the filing states. The filing notes that the company has not yet been able to verify the details included in Quadrigaâs initial filing, though it âhas assumed the integrity and truthfulness of the information and explanations provided to it.â In its report, EY explains that a number of factors resulted in Quadrigaâs current issues, including its lack of a corporate bank account and Cottenâs death. Most notably, EY has recommended that Quadriga maintain the suspension of its website. The exchange first took down its trading platformlast week, after voting in new directors to run the company. The firm has also recommended that Quadriga receive creditor protection under the Canadian Companiesâ Creditors Arrangement Act. Doing so, it explains, will allow for a full investigation of the exchange and its business, which will determine what assets are available for distribution and what is actually owed to users (in its report, EY claims that Quadriga only owes funds to 92,000 users â far fewer than the exchange’s claim of 115,000 users). If granted, Quadriga has a rough plan to operate through the next 13 weeks, or until April 28, the EY report says. Duhaime noted that unless customers or shareholders have an opportunity to file affidavits or other submissions prior to the hearing opposing this protection, it is likely that Quadriga will receive the court’s approval. Customers can appeal this decision, âand they can take action to protect their interests and seek the return of their funds” â but that would be dependent on the order issued Tuesday, she explained. Duhaime did question why Quadriga filed for creditor protection in Nova Scotia, rather than British Columbia, where the companies affiliated with the exchange are registered. âOne of Quadrigaâs new directors is resident in British Columbia. Quadrigaâs only known former accountant and auditing firm is in British Columbia. One of the [companies] is cease traded in British Columbia which means that the British Columbia Securities Commission has jurisdiction over that company. Its corporate records are in British Columbia. Most of its shareholders are in British Columbia and a sophisticated transfer agent in British Columbia, is in charge of shareholder matters for that company,â she noted, adding: âIn my opinion, I cannot see a Nova Scotia judge, if he or she is apprised of all of the actual matrix regarding the connections to BC, concluding that a Nova Scotia Court has jurisdiction. It may happen that a Nova Scotia Court accepts jurisdiction but usually a Judge would ask the party to prove the jurisdiction issue, especially in this case where the applicant is seeking an order to prevent litigation so the rights of parties across the country are affected.â The most important issue in the case revolves around the wallet addresses, Duhaime said. As far as Quadriga is concerned, the most important priority should be âmaking [customers] whole.â EY’s report says there are two initial sources of funds that can be recovered quickly: the cash held by Quadriga’s payment processor in the form of bank drafts, and any cryptos or fiat held by third-parties. The company may also look into selling the QCX trading platform, as it is potentially “a saleable asset of considerable value.” As these sources of funds are liquidated, the company added, it will hire “cryptocurrency forensic advisors” to try and locate or access the missing coins. Duhaime noted that in other cases, an exchange might track wallet addresses and have other exchanges it is working with freeze any activity to preserve funds. But that has not happened with Quadriga. Quadriga has also not yet asked for a court order to freeze its assets as a form of protection for customers. “People may query why a freezing order makes sense but if you are an exchange and your wallets with all your funds are suddenly not accessible, wouldnât you rush to get a court order to stop anyone else from possibly spending those funds or transferring them to other parties?” she told CoinDesk. Gavel image via Shutterstock • Troubled Crypto Exchange QuadrigaCX Goes Offline for ‘Maintenance’ • QuadrigaCX Crypto Exchange Users Still Can’t Get Their Money Out \|\| A Court Date for QuadrigaCX: What to Expect at Tomorrow’s Hearing: The troubled crypto exchange QuadrigCX has appealed for creditor protection, setting the stage for a significant court hearing on Feb. 5 in Canada. Last Thursday, the exchange’s appeal was made before the Nova Scotia Supreme Court, with QuadrigaCX claiming that doesn’t have access to wallets containing some $137 million (U.S. dollars) in cryptocurrency. As such, it has claimed to be unable to repay more than 115,000 customers who are owed funds â and creditor protection is being sought to forestall any lawsuits while it attempts to find a solution. To that end, QuadrigaCX is seeking to have professional services firm EY oversee its proceedings. Tuesday’s hearing, at 830 a.m. EST, will see the companies go before the court. QuadrigaCX Owes Customers $190 Million, Court Filing Shows Christine Duhaime, a financial crimes attorney and managing partner with Duhaime Law, told CoinDesk that the most likely outcome during the hearing will be that a monitor â in this case, likely Ernst and Young â will be appointed. Quadrigaâs filing was not just for a monitor, however. Applying for creditor protection means it is trying to prevent customers from suing to recover lost funds, she noted. Duhaime explained: âThere are many unanswered questions though, for example, why have the wallet addresses not been disclosed? As you know in Bitcoin world, people know the pooled wallet addresses of exchanges â its not confidential or business information so thatâs an unanswered question that a Court eventually will have to address. Someone is eventually going to bring an application for disclosure of all the wallet addresses.â Crypto Exchange QuadrigaCX Files for Creditor Protection âTransparency is going to be critical for Quadriga and providing the wallets addresses is the first step to transparency,â she added. EY proposal The professional services firm EY has already submitted an initial report after discussing the situation with QuadrigaCX, according to a filing obtained by CoinDesk. Story continues âThe Proposed Monitor understands that Quadriga is experiencing a liquidity crisis and has been unable to satisfy withdrawal requests from users. Additionally, Quadriga has been unable to locate a significant amount of cryptocurrency following the death of the Applicantsâ founder and Chief Executive Officer, Gerald Cotten,â the filing states. The filing notes that the company has not yet been able to verify the details included in Quadrigaâs initial filing, though it âhas assumed the integrity and truthfulness of the information and explanations provided to it.â In its report, EY explains that a number of factors resulted in Quadrigaâs current issues, including its lack of a corporate bank account and Cottenâs death. Most notably, EY has recommended that Quadriga maintain the suspension of its website. The exchange first took down its trading platform last week , after voting in new directors to run the company. The firm has also recommended that Quadriga receive creditor protection under the Canadian Companiesâ Creditors Arrangement Act. Doing so, it explains, will allow for a full investigation of the exchange and its business, which will determine what assets are available for distribution and what is actually owed to users (in its report, EY claims that Quadriga only owes funds to 92,000 users â far fewer than the exchange’s claim of 115,000 users). Plan pitched If granted, Quadriga has a rough plan to operate through the next 13 weeks, or until April 28, the EY report says. Duhaime noted that unless customers or shareholders have an opportunity to file affidavits or other submissions prior to the hearing opposing this protection, it is likely that Quadriga will receive the court’s approval. Customers can appeal this decision, âand they can take action to protect their interests and seek the return of their funds” â but that would be dependent on the order issued Tuesday, she explained. Duhaime did question why Quadriga filed for creditor protection in Nova Scotia, rather than British Columbia, where the companies affiliated with the exchange are registered. âOne of Quadrigaâs new directors is resident in British Columbia. Quadrigaâs only known former accountant and auditing firm is in British Columbia. One of the [companies] is cease traded in British Columbia which means that the British Columbia Securities Commission has jurisdiction over that company. Its corporate records are in British Columbia. Most of its shareholders are in British Columbia and a sophisticated transfer agent in British Columbia, is in charge of shareholder matters for that company,â she noted, adding: âIn my opinion, I cannot see a Nova Scotia judge, if he or she is apprised of all of the actual matrix regarding the connections to BC, concluding that a Nova Scotia Court has jurisdiction. It may happen that a Nova Scotia Court accepts jurisdiction but usually a Judge would ask the party to prove the jurisdiction issue, especially in this case where the applicant is seeking an order to prevent litigation so the rights of parties across the country are affected.â Funds recovery The most important issue in the case revolves around the wallet addresses, Duhaime said. As far as Quadriga is concerned, the most important priority should be âmaking [customers] whole.â EY’s report says there are two initial sources of funds that can be recovered quickly: the cash held by Quadriga’s payment processor in the form of bank drafts, and any cryptos or fiat held by third-parties. The company may also look into selling the QCX trading platform, as it is potentially “a saleable asset of considerable value.” As these sources of funds are liquidated, the company added, it will hire “cryptocurrency forensic advisors” to try and locate or access the missing coins. Duhaime noted that in other cases, an exchange might track wallet addresses and have other exchanges it is working with freeze any activity to preserve funds. But that has not happened with Quadriga. Quadriga has also not yet asked for a court order to freeze its assets as a form of protection for customers. “People may query why a freezing order makes sense but if you are an exchange and your wallets with all your funds are suddenly not accessible, wouldnât you rush to get a court order to stop anyone else from possibly spending those funds or transferring them to other parties?” she told CoinDesk. Gavel image via Shutterstock Related Stories Troubled Crypto Exchange QuadrigaCX Goes Offline for ‘Maintenance’ QuadrigaCX Crypto Exchange Users Still Can’t Get Their Money Out \|\| Bitcoin, Ripple, Ethereum, EOS, Bitcoin Cash, Litecoin, Tron, Stellar, Bitcoin SV, Cardano: Price Analysis, Feb. 4: The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Cointelegraph.com. Every investment and trading move involves risk, you should conduct your own research when making a decision. The market data is provided by the HitBTC exchange. While some are predicting the end of cryptocurrencies, the co-founder and CEO of Twitter Jack Dorsey has projected a very bullish future for Bitcoin ( BTC ). During a podcast with Joe Rogan, Dorsey said that he sees Bitcoin as the Internets native currency, his point of view later supported by Binance CEO Changpeng Zhao. In a poll conducted by Finder.com.au, crypto experts predicted that Bitcoin will see a reversal of fortune in 2019 and can rally to $7,000 by the end of the year. The most bullish forecast among the respondents was made by COO of Digital Capital Management, Ben Ritchie who put the number at $9,500 by the end of 2019. Mike Novogratz, CEO of crypto bank Galaxy Digital tweeted that the crypto prices might take longer to turn around. However, he is confident that the institutional players will take the plunge and carry the market higher. We believe that cryptocurrencies are at a tipping point. A breakdown from the critical support levels will extend the bear market, while a sharp move up could signal a probable bottom. BTC/USD Small range trading action continues in Bitcoin ( BTC ). The bulls could not push the price above the 20-day EMA in the past two days, which shows weakness. The bears will now attempt to push the price to the critical support at $3,236.09. A break of this level will resume the downtrend and negatively affect the sentiment. The next support on the downside is at $3,000, which is a psychological threshold. If this level also cracks, the slide could extend to $2,600. On the other hand, if the bulls scale above the 20-day EMA, the BTC/USD pair will rise to the 50-day SMA. We shall turn bullish if we see a range expansion to the upside that sustains for at least a couple of days. Such a move will indicate strong buying and a probable change in trend. Story continues The downtrend line has been acting as a stiff resistance since late November of last year. A break out of this line is likely to attract further buying. We might propose long positions on a breakout and close (UTC time frame) above the downtrend line. The upside levels to watch out for are $4,255, above which the move could stretch to $4,914.11. Upon crossing that hurdle, the cryptocurrency could rally further to $5,900. XRP/USD Ripple ( XRP ) continues to lose ground. It is likely to drop to the critical support at $0.27795. A break of this level could sink the pair to the yearly low of $0.24508. Conversely, if the bulls defend the support at $0.27795 and push the price above the 50-day SMA, the XRP/USD pair is likely to pick up momentum. We believe that a break out of the 50-day SMA can propel the pair to $0.4, with a minor resistance at $0.38239. The traders can initiate long positions as recommended in our analysis on Jan. 30. ETH/USD Ethereum ( ETH ) turned down from close to the overhead resistance on Feb. 3. The 20-day EMA is sloping down, and the RSI is below 50 levels, which shows that the bears have the advantage. A breakdown of the support at $103.2 will be a negative development that can drag the ETH/USD pair to the next support at $83. If that support also breaks, the downtrend will resume. The pair will gain strength if it breaks out of the tight range of $103.2$116.3. We expect a move to $134.5, and above it to $167.32. As the risk-reward ratio is high, we suggest long positions on a breakout and close (UTC time frame) above $116.3. The stop loss for the trade can be kept at $102. EOS/USD EOS broke out of the 20-day EMA on Feb. 2 but failed to scale the 50-day SMA. Currently, the bulls are again trying to break out of the 20-day EMA and move higher. A failure to rise above the moving averages will invite selling that can sink the EOS/USD pair to the critical support of $2.1733. A breakdown of this support will result in a drop to $1.7746, and below that to $1.55. On the other hand, if the bulls break out of the moving averages, a rally to $3.05, followed by a move to the top of the range at $3.2081 will be possible. We shall wait for the price to close (UTC time frame) above the 50-day SMA before suggesting a trade. BCH/USD Bitcoin Cash ( BCH ) is facing stiff resistance at $121.3. The 20-day EMA is also located just above this level. Hence, we expect it to act as a major hurdle. If the price turns down from the current levels, it can again drop to $105 and below that to the low at $73.5. The failure of the bulls to scale the 20-day EMA shows that the sellers still have the upper hand. The BCH/USD pair will show strength if it sustains above the 20-day EMA. On crossing this resistance, a rally to $141 is probable. With the 50-day SMA close to this level, we expect another roadblock at $141. After this level is scaled, the pair is likely to pick up momentum. We might suggest long positions if the price closes (UTC time frame) above $141. LTC/USD Litecoin ( LTC ) broke above the overhead resistance of $33 on Feb. 2. However, the bulls could not build upon the breakout and carry the price to the next overhead resistance at $36.428. A small positive is that the bulls have managed to sustain above the breakout level of $33 since scaling it. If the price rebounds sharply from $33, we anticipate a move to $36.428, and above it to $40.784. The traders can retain their stop loss at $27.5. Conversely, if the bears sink the LTC/USD pair below $33 and then below the moving averages, it will be a bearish sign. Support on the downside is at the small uptrend line, and below it in the support zone of $27.701$29.349. A breakdown of this zone will be a negative development that can plunge the pair to the yearly low of $23.090. TRX/USD Tron ( TRX ) fell below the 20-day EMA repeatedly from Jan. 31 to Feb. 4, but the bears could not capitalize on the falls. The lower levels attracted buying, which pushed the price back above the moving average. Currently, the bulls are attempting to break out of the overhead resistance at $0.02815521 once again. If successful, the TRX/USD pair can move up to $0.03575668, with a minor resistance at $0.03128011. We, however, shall book complete profits closer to $0.04. If the bulls fail to break out and sustain above the overhead resistance, the bears will again attempt to sink the pair below the 20-day EMA. The important levels to watch on the downside are $0.02306493, and below it $0.02113440. We recommend traders hold their long positions with the stop at $0.023. XLM/USD Stellar ( XLM ) continues to trade near the yearly lows without any signs of a sharp bounce. Both moving averages are trending down and the RSI is in the oversold zone, which shows a lack of buying support even at these levels. The target level to watch on the downside is $0.07864971, and if this support gives way, the drop could stretch to $0.05795397. Nevertheless, if the XLM/USD pair turns around from the current levels and rises above the 20-day EMA and the 50-day SMA, it can reach $0.13427050. A break out of this resistance could carry the pair to $0.184, which will act as a major hurdle. We shall wait for the price to scale above the 50-day SMA before turning positive. BSV/USD Bitcoin SV has been clinging on to the support at $65.031 for the past seven days. A breakdown of this level can result in a drop to $57, and below that to $38.528. The failure of the bulls to achieve a strong bounce from the critical support level shows a lack of buying at the higher levels. The falling 20-day EMA and the RSI in the negative zone show that the sellers are overpowering the buyers. Conversely, if the BSV/USD pair bounces sharply and rises above both moving averages, it can rally to $102.58, and above it to $123.98. We shall wait for the pair to show some strength before proposing a trade in it. ADA/USD Cardano ( ADA ) could not climb back into the ascending channel for the past three days, which is a negative sign. The bears will now attempt to plunge the ADA/USD pair below the support at $0.036815. If they are successful, it can result in a fall to $0.027237. The 20-day EMA is sloping down, and the RSI is stuck around the 40 levels, which shows that the sellers have the upper hand. However, if the bulls defend the support at $0.036815, the pair will again attempt to rise into the channel and scale the moving averages. We shall wait for a trend reversal to be signaled before turning positive. The market data is provided by the HitBTC exchange. The charts for the analysis are provided by TradingView . Related Articles: Bitcoin, Ripple, Ethereum, EOS, Bitcoin Cash, Litecoin, Tron, Stellar, Bitcoin SV, Cardano: Price Analysis, Feb. 1 Bitcoin, Ripple, Ethereum, EOS, Bitcoin Cash, Litecoin, Tron, Stellar, Bitcoin SV, Cardano: Price Analysis, Jan. 30 Bitcoin, Ripple, Ethereum, EOS, Bitcoin Cash, Litecoin, Tron, Stellar, Bitcoin SV, Cardano: Price Analysis, Jan. 28 Bitcoin, Ripple, Ethereum, Bitcoin Cash, EOS, Stellar, Litecoin, Tron, Bitcoin SV, Cardano: Price Analysis, Jan. 25 \|\| Bitcoin, Ripple, Ethereum, EOS, Bitcoin Cash, Litecoin, Tron, Stellar, Bitcoin SV, Cardano: Price Analysis, Feb. 4: The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Cointelegraph.com. Every investment and trading move involves risk, you should conduct your own research when making a decision. The market data is provided by theHitBTCexchange. While some are predicting the end of cryptocurrencies, the co-founder and CEO of Twitter Jack Dorsey has projected a very bullish future for Bitcoin (BTC). During a podcast with Joe Rogan, Dorsey said that he sees Bitcoin as the Internet’snativecurrency, his point of view latersupportedby Binance CEO Changpeng Zhao. In a poll conducted by Finder.com.au, crypto experts predicted that Bitcoin will see a reversal of fortune in 2019 and can rally to$7,000by the end of the year. The most bullish forecast among the respondents was made by COO of Digital Capital Management, Ben Ritchie who put the number at $9,500 by the end of 2019. Mike Novogratz, CEO of crypto bank Galaxy Digitaltweetedthat the crypto prices might take longer to turn around. However, he is confident that the institutional players will take the plunge and carry the market higher. We believe that cryptocurrencies are at a tipping point. A breakdown from the critical support levels will extend the bear market, while a sharp move up could signal a probable bottom. Small range trading action continues in Bitcoin (BTC). The bulls could not push the price above the 20-day EMA in the past two days, which shows weakness. The bears will now attempt to push the price to the critical support at $3,236.09. A break of this level will resume the downtrend and negatively affect the sentiment. The next support on the downside is at $3,000, which is a psychological threshold. If this level also cracks, the slide could extend to $2,600. On the other hand, if the bulls scale above the 20-day EMA, theBTC/USDpair will rise to the 50-day SMA. We shall turn bullish if we see a range expansion to the upside that sustains for at least a couple of days. Such a move will indicate strong buying and a probable change in trend. The downtrend line has been acting as a stiff resistance since late November of last year. A break out of this line is likely to attract further buying. We might propose long positions on a breakout and close (UTC time frame) above the downtrend line. The upside levels to watch out for are $4,255, above which the move could stretch to $4,914.11. Upon crossing that hurdle, the cryptocurrency could rally further to $5,900. Ripple (XRP) continues to lose ground. It is likely to drop to the critical support at $0.27795. A break of this level could sink the pair to the yearly low of $0.24508. Conversely, if the bulls defend the support at $0.27795 and push the price above the 50-day SMA, theXRP/USDpair is likely to pick up momentum. We believe that a break out of the 50-day SMA can propel the pair to $0.4, with a minor resistance at $0.38239. The traders can initiate long positions as recommended in ouranalysison Jan. 30. Ethereum (ETH) turned down from close to the overhead resistance on Feb. 3. The 20-day EMA is sloping down, and the RSI is below 50 levels, which shows that the bears have the advantage. A breakdown of the support at $103.2 will be a negative development that can drag theETH/USDpair to the next support at $83. If that support also breaks, the downtrend will resume. The pair will gain strength if it breaks out of the tight range of $103.2–$116.3. We expect a move to $134.5, and above it to $167.32. As the risk-reward ratio is high, we suggest long positions on a breakout and close (UTC time frame) above $116.3. The stop loss for the trade can be kept at $102. EOSbroke out of the 20-day EMA on Feb. 2 but failed to scale the 50-day SMA. Currently, the bulls are again trying to break out of the 20-day EMA and move higher. A failure to rise above the moving averages will invite selling that can sink theEOS/USDpair to the critical support of $2.1733. A breakdown of this support will result in a drop to $1.7746, and below that to $1.55. On the other hand, if the bulls break out of the moving averages, a rally to $3.05, followed by a move to the top of the range at $3.2081 will be possible. We shall wait for the price to close (UTC time frame) above the 50-day SMA before suggesting a trade. Bitcoin Cash (BCH) is facing stiff resistance at $121.3. The 20-day EMA is also located just above this level. Hence, we expect it to act as a major hurdle. If the price turns down from the current levels, it can again drop to $105 and below that to the low at $73.5. The failure of the bulls to scale the 20-day EMA shows that the sellers still have the upper hand. TheBCH/USDpair will show strength if it sustains above the 20-day EMA. On crossing this resistance, a rally to $141 is probable. With the 50-day SMA close to this level, we expect another roadblock at $141. After this level is scaled, the pair is likely to pick up momentum. We might suggest long positions if the price closes (UTC time frame) above $141. Litecoin (LTC) broke above the overhead resistance of $33 on Feb. 2. However, the bulls could not build upon the breakout and carry the price to the next overhead resistance at $36.428. A small positive is that the bulls have managed to sustain above the breakout level of $33 since scaling it. If the price rebounds sharply from $33, we anticipate a move to $36.428, and above it to $40.784. The traders can retain their stop loss at $27.5. Conversely, if the bears sink theLTC/USDpair below $33 and then below the moving averages, it will be a bearish sign. Support on the downside is at the small uptrend line, and below it in the support zone of $27.701–$29.349. A breakdown of this zone will be a negative development that can plunge the pair to the yearly low of $23.090. Tron (TRX) fell below the 20-day EMA repeatedly from Jan. 31 to Feb. 4, but the bears could not capitalize on the falls. The lower levels attracted buying, which pushed the price back above the moving average. Currently, the bulls are attempting to break out of the overhead resistance at $0.02815521 once again. If successful, theTRX/USDpair can move up to $0.03575668, with a minor resistance at $0.03128011. We, however, shall book complete profits closer to $0.04. If the bulls fail to break out and sustain above the overhead resistance, the bears will again attempt to sink the pair below the 20-day EMA. The important levels to watch on the downside are $0.02306493, and below it $0.02113440. We recommend traders hold their long positions with the stop at $0.023. Stellar (XLM) continues to trade near the yearly lows without any signs of a sharp bounce. Both moving averages are trending down and the RSI is in the oversold zone, which shows a lack of buying support even at these levels. The target level to watch on the downside is $0.07864971, and if this support gives way, the drop could stretch to $0.05795397. Nevertheless, if theXLM/USDpair turns around from the current levels and rises above the 20-day EMA and the 50-day SMA, it can reach $0.13427050. A break out of this resistance could carry the pair to $0.184, which will act as a major hurdle. We shall wait for the price to scale above the 50-day SMA before turning positive. Bitcoin SV has been clinging on to the support at $65.031 for the past seven days. A breakdown of this level can result in a drop to $57, and below that to $38.528. The failure of the bulls to achieve a strong bounce from the critical support level shows a lack of buying at the higher levels. The falling 20-day EMA and the RSI in the negative zone show that the sellers are overpowering the buyers. Conversely, if theBSV/USDpair bounces sharply and rises above both moving averages, it can rally to $102.58, and above it to $123.98. We shall wait for the pair to show some strength before proposing a trade in it. Cardano (ADA) could not climb back into the ascending channel for the past three days, which is a negative sign. The bears will now attempt to plunge theADA/USDpair below the support at $0.036815. If they are successful, it can result in a fall to $0.027237. The 20-day EMA is sloping down, and the RSI is stuck around the 40 levels, which shows that the sellers have the upper hand. However, if the bulls defend the support at $0.036815, the pair will again attempt to rise into the channel and scale the moving averages. We shall wait for a trend reversal to be signaled before turning positive. The market data is provided by theHitBTCexchange. The charts for the analysis are provided byTradingView. • Bitcoin, Ripple, Ethereum, EOS, Bitcoin Cash, Litecoin, Tron, Stellar, Bitcoin SV, Cardano: Price Analysis, Feb. 1 • Bitcoin, Ripple, Ethereum, EOS, Bitcoin Cash, Litecoin, Tron, Stellar, Bitcoin SV, Cardano: Price Analysis, Jan. 30 • Bitcoin, Ripple, Ethereum, EOS, Bitcoin Cash, Litecoin, Tron, Stellar, Bitcoin SV, Cardano: Price Analysis, Jan. 28 • Bitcoin, Ripple, Ethereum, Bitcoin Cash, EOS, Stellar, Litecoin, Tron, Bitcoin SV, Cardano: Price Analysis, Jan. 25 \|\| Bitcoin, Ripple, Ethereum, EOS, Bitcoin Cash, Litecoin, Tron, Stellar, Bitcoin SV, Cardano: Price Analysis, Feb. 4: The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Cointelegraph.com. Every investment and trading move involves risk, you should conduct your own research when making a decision. The market data is provided by theHitBTCexchange. While some are predicting the end of cryptocurrencies, the co-founder and CEO of Twitter Jack Dorsey has projected a very bullish future for Bitcoin (BTC). During a podcast with Joe Rogan, Dorsey said that he sees Bitcoin as the Internet’snativecurrency, his point of view latersupportedby Binance CEO Changpeng Zhao. In a poll conducted by Finder.com.au, crypto experts predicted that Bitcoin will see a reversal of fortune in 2019 and can rally to$7,000by the end of the year. The most bullish forecast among the respondents was made by COO of Digital Capital Management, Ben Ritchie who put the number at $9,500 by the end of 2019. Mike Novogratz, CEO of crypto bank Galaxy Digitaltweetedthat the crypto prices might take longer to turn around. However, he is confident that the institutional players will take the plunge and carry the market higher. We believe that cryptocurrencies are at a tipping point. A breakdown from the critical support levels will extend the bear market, while a sharp move up could signal a probable bottom. Small range trading action continues in Bitcoin (BTC). The bulls could not push the price above the 20-day EMA in the past two days, which shows weakness. The bears will now attempt to push the price to the critical support at $3,236.09. A break of this level will resume the downtrend and negatively affect the sentiment. The next support on the downside is at $3,000, which is a psychological threshold. If this level also cracks, the slide could extend to $2,600. On the other hand, if the bulls scale above the 20-day EMA, theBTC/USDpair will rise to the 50-day SMA. We shall turn bullish if we see a range expansion to the upside that sustains for at least a couple of days. Such a move will indicate strong buying and a probable change in trend. The downtrend line has been acting as a stiff resistance since late November of last year. A break out of this line is likely to attract further buying. We might propose long positions on a breakout and close (UTC time frame) above the downtrend line. The upside levels to watch out for are $4,255, above which the move could stretch to $4,914.11. Upon crossing that hurdle, the cryptocurrency could rally further to $5,900. Ripple (XRP) continues to lose ground. It is likely to drop to the critical support at $0.27795. A break of this level could sink the pair to the yearly low of $0.24508. Conversely, if the bulls defend the support at $0.27795 and push the price above the 50-day SMA, theXRP/USDpair is likely to pick up momentum. We believe that a break out of the 50-day SMA can propel the pair to $0.4, with a minor resistance at $0.38239. The traders can initiate long positions as recommended in ouranalysison Jan. 30. Ethereum (ETH) turned down from close to the overhead resistance on Feb. 3. The 20-day EMA is sloping down, and the RSI is below 50 levels, which shows that the bears have the advantage. A breakdown of the support at $103.2 will be a negative development that can drag theETH/USDpair to the next support at $83. If that support also breaks, the downtrend will resume. The pair will gain strength if it breaks out of the tight range of $103.2–$116.3. We expect a move to $134.5, and above it to $167.32. As the risk-reward ratio is high, we suggest long positions on a breakout and close (UTC time frame) above $116.3. The stop loss for the trade can be kept at $102. EOSbroke out of the 20-day EMA on Feb. 2 but failed to scale the 50-day SMA. Currently, the bulls are again trying to break out of the 20-day EMA and move higher. A failure to rise above the moving averages will invite selling that can sink theEOS/USDpair to the critical support of $2.1733. A breakdown of this support will result in a drop to $1.7746, and below that to $1.55. On the other hand, if the bulls break out of the moving averages, a rally to $3.05, followed by a move to the top of the range at $3.2081 will be possible. We shall wait for the price to close (UTC time frame) above the 50-day SMA before suggesting a trade. Bitcoin Cash (BCH) is facing stiff resistance at $121.3. The 20-day EMA is also located just above this level. Hence, we expect it to act as a major hurdle. If the price turns down from the current levels, it can again drop to $105 and below that to the low at $73.5. The failure of the bulls to scale the 20-day EMA shows that the sellers still have the upper hand. TheBCH/USDpair will show strength if it sustains above the 20-day EMA. On crossing this resistance, a rally to $141 is probable. With the 50-day SMA close to this level, we expect another roadblock at $141. After this level is scaled, the pair is likely to pick up momentum. We might suggest long positions if the price closes (UTC time frame) above $141. Litecoin (LTC) broke above the overhead resistance of $33 on Feb. 2. However, the bulls could not build upon the breakout and carry the price to the next overhead resistance at $36.428. A small positive is that the bulls have managed to sustain above the breakout level of $33 since scaling it. If the price rebounds sharply from $33, we anticipate a move to $36.428, and above it to $40.784. The traders can retain their stop loss at $27.5. Conversely, if the bears sink theLTC/USDpair below $33 and then below the moving averages, it will be a bearish sign. Support on the downside is at the small uptrend line, and below it in the support zone of $27.701–$29.349. A breakdown of this zone will be a negative development that can plunge the pair to the yearly low of $23.090. Tron (TRX) fell below the 20-day EMA repeatedly from Jan. 31 to Feb. 4, but the bears could not capitalize on the falls. The lower levels attracted buying, which pushed the price back above the moving average. Currently, the bulls are attempting to break out of the overhead resistance at $0.02815521 once again. If successful, theTRX/USDpair can move up to $0.03575668, with a minor resistance at $0.03128011. We, however, shall book complete profits closer to $0.04. If the bulls fail to break out and sustain above the overhead resistance, the bears will again attempt to sink the pair below the 20-day EMA. The important levels to watch on the downside are $0.02306493, and below it $0.02113440. We recommend traders hold their long positions with the stop at $0.023. Stellar (XLM) continues to trade near the yearly lows without any signs of a sharp bounce. Both moving averages are trending down and the RSI is in the oversold zone, which shows a lack of buying support even at these levels. The target level to watch on the downside is $0.07864971, and if this support gives way, the drop could stretch to $0.05795397. Nevertheless, if theXLM/USDpair turns around from the current levels and rises above the 20-day EMA and the 50-day SMA, it can reach $0.13427050. A break out of this resistance could carry the pair to $0.184, which will act as a major hurdle. We shall wait for the price to scale above the 50-day SMA before turning positive. Bitcoin SV has been clinging on to the support at $65.031 for the past seven days. A breakdown of this level can result in a drop to $57, and below that to $38.528. The failure of the bulls to achieve a strong bounce from the critical support level shows a lack of buying at the higher levels. The falling 20-day EMA and the RSI in the negative zone show that the sellers are overpowering the buyers. Conversely, if theBSV/USDpair bounces sharply and rises above both moving averages, it can rally to $102.58, and above it to $123.98. We shall wait for the pair to show some strength before proposing a trade in it. Cardano (ADA) could not climb back into the ascending channel for the past three days, which is a negative sign. The bears will now attempt to plunge theADA/USDpair below the support at $0.036815. If they are successful, it can result in a fall to $0.027237. The 20-day EMA is sloping down, and the RSI is stuck around the 40 levels, which shows that the sellers have the upper hand. However, if the bulls defend the support at $0.036815, the pair will again attempt to rise into the channel and scale the moving averages. We shall wait for a trend reversal to be signaled before turning positive. The market data is provided by theHitBTCexchange. The charts for the analysis are provided byTradingView. • Bitcoin, Ripple, Ethereum, EOS, Bitcoin Cash, Litecoin, Tron, Stellar, Bitcoin SV, Cardano: Price Analysis, Feb. 1 • Bitcoin, Ripple, Ethereum, EOS, Bitcoin Cash, Litecoin, Tron, Stellar, Bitcoin SV, Cardano: Price Analysis, Jan. 30 • Bitcoin, Ripple, Ethereum, EOS, Bitcoin Cash, Litecoin, Tron, Stellar, Bitcoin SV, Cardano: Price Analysis, Jan. 28 • Bitcoin, Ripple, Ethereum, Bitcoin Cash, EOS, Stellar, Litecoin, Tron, Bitcoin SV, Cardano: Price Analysis, Jan. 25 \|\| Why the Bitcoin Price Will Reject the Bulls and Crash Even Lower: While financial forecasters arepredictinga bullish 2019 for the bitcoin price, the cryptocurrency first needs to fight strong technical barriers in the near-term. It is becoming difficult for bitcoin bulls to initiate a substantial push towards the $3,480-barrier and beyond. At the same time, their presence at the support area above $3,371 is stopping thepricefrom further downside action. The situation has led bitcoin to remain rangebound, which is increasing the bearish sentiment in the near-term scenario. On the intraday/weekly level, bitcoin could now pursue another selling action thanks to two pressing issues: lower volatility and volume. Let’s discuss them in the sections as follows. Bitcoin is somewhat imitating the price action between January 26 and January 27. Back then, it was trending inside a triangle formation. As the pattern extended and trading range started contracting, the volume also began to diminish. In parallel, the gap between the upper and the lower Bollinger Band, which is directly proportional to an asset’s volatility, also started to minimize. On January 28, the bitcoin price broke down from the triangle pattern. Read the full story onCCN.com. \|\| Why the Bitcoin Price Will Reject the Bulls and Crash Even Lower: bitcoin price While financial forecasters are predicting a bullish 2019 for the bitcoin price, the cryptocurrency first needs to fight strong technical barriers in the near-term. It is becoming difficult for bitcoin bulls to initiate a substantial push towards the $3,480-barrier and beyond. At the same time, their presence at the support area above $3,371 is stopping the price from further downside action. The situation has led bitcoin to remain rangebound, which is increasing the bearish sentiment in the near-term scenario. On the intraday/weekly level, bitcoin could now pursue another selling action thanks to two pressing issues: lower volatility and volume. Let’s discuss them in the sections as follows. Bitcoin Price Sees January Deja Vu Bitcoin is somewhat imitating the price action between January 26 and January 27. Back then, it was trending inside a triangle formation. As the pattern extended and trading range started contracting, the volume also began to diminish. In parallel, the gap between the upper and the lower Bollinger Band, which is directly proportional to an asset’s volatility, also started to minimize. On January 28, the bitcoin price broke down from the triangle pattern. Read the full story on CCN.com . \|\| Why the Bitcoin Price Will Reject the Bulls and Crash Even Lower: While financial forecasters arepredictinga bullish 2019 for the bitcoin price, the cryptocurrency first needs to fight strong technical barriers in the near-term. It is becoming difficult for bitcoin bulls to initiate a substantial push towards the $3,480-barrier and beyond. At the same time, their presence at the support area above $3,371 is stopping thepricefrom further downside action. The situation has led bitcoin to remain rangebound, which is increasing the bearish sentiment in the near-term scenario. On the intraday/weekly level, bitcoin could now pursue another selling action thanks to two pressing issues: lower volatility and volume. Let’s discuss them in the sections as follows. Bitcoin is somewhat imitating the price action between January 26 and January 27. Back then, it was trending inside a triangle formation. As the pattern extended and trading range started contracting, the volume also began to diminish. In parallel, the gap between the upper and the lower Bollinger Band, which is directly proportional to an asset’s volatility, also started to minimize. On January 28, the bitcoin price broke down from the triangle pattern. Read the full story onCCN.com. \|\| Switzerland: Crypto Bank Seba Partners With Mortgage Bank Hypothekarbank: Switzerland -based crypto bank Seba Crypto AG has signed an agreement with Swiss mortgage bank Hypothekarbank Lenzburg AG to use its core banking system, Finstar, Cointelegraph auf Deutsch reports on Jan. 31. The partnership will allow for the implementation of Seba’s decentralized software into Finstar, as well as allowing Seba to use Finstar’s conventional services. Additionally, Seba will be able to use Finstar to process and store transactions made with cryptocurrencies and other blockchain-based products. The project is set to be completed in Q2 of 2019, a Jan. 31 press release notes. Hypothekarbank will reportedly be responsible for overseeing application management and data center operations. According to the press release, Seba will handle blockchain and crypto-specific developments independently. Seba CEO Guido Bühler was quoted in the press release as saying: "[t]oday's announcement is a sign of the new reality in the financial world where, as a regulated institution, we want to build a bridge between traditional banking and the digital ecosystem." Back in September 2018, Seba raised $103 million to help set up a bank that would offer cryptocurrency services, as reported by Cointelegraph. In November, Seba stated that it expects to receive a banking and securities license from Swiss financial regulator, the Swiss Financial Market Supervisory Authority, in the first half of 2019. The license, which the entity has yet to receive as per the recent press release, would allow the bank to legally conduct crypto trading and investments with other banks and investors. Related Articles: Twitter CEO Jack Dorsey Still Believes Bitcoin Will Be Internet’s Currency Six UAE and Saudi Arabian Banks Join Digital Currency Cross-Border Transaction Project Crypto Valley Assoc. Pres.: Switzerland Must Be ‘Open and Easy’ for Blockchain Investors Report: Analysts Identify Trail of Bitcoin Donations to Gaza’s Ruling Group Hamas \|\| Switzerland: Crypto Bank Seba Partners With Mortgage Bank Hypothekarbank: Switzerland-based crypto bank Seba Crypto AG has signed an agreement with Swiss mortgage bank Hypothekarbank Lenzburg AG to use its core banking system, Finstar, Cointelegraph auf Deutschreportson Jan. 31. The partnership will allow for the implementation of Seba’sdecentralizedsoftware into Finstar, as well as allowing Seba to use Finstar’s conventional services. Additionally, Seba will be able to use Finstar to process and store transactions made with cryptocurrencies and other blockchain-based products. The project is set to be completed in Q2 of 2019, a Jan. 31press releasenotes. Hypothekarbank will reportedly be responsible for overseeing application management and data center operations. According to the press release, Seba will handle blockchain and crypto-specific developments independently. Seba CEO Guido Bühler was quoted in the press release as saying: "[t]oday's announcement is a sign of the new reality in the financial world where, as a regulated institution, we want to build a bridge between traditional banking and the digital ecosystem." Back in September 2018, Seba raised $103 million to help set up a bank that would offer cryptocurrency services, asreportedby Cointelegraph. In November, Sebastatedthat it expects to receive a banking and securities license from Swiss financial regulator, the Swiss Financial Market Supervisory Authority, in the first half of 2019. The license, which the entity has yet to receive as per the recent press release, would allow the bank to legally conduct crypto trading and investments with other banks and investors. • Twitter CEO Jack Dorsey Still Believes Bitcoin Will Be Internet’s Currency • Six UAE and Saudi Arabian Banks Join Digital Currency Cross-Border Transaction Project • Crypto Valley Assoc. Pres.: Switzerland Must Be ‘Open and Easy’ for Blockchain Investors • Report: Analysts Identify Trail of Bitcoin Donations to Gaza’s Ruling Group Hamas \|\| Stock Market Sees Significant Growth, While Bitcoin Keeps Stability Over Past 7 Days: Monday, Feb. 4 — crypto markets have continued trading sideways over the past 24 hours, while Bitcoin (BTC) has been reasonably stable over the past 7 days, according to data fromCoinMarketCap. Market visualization fromCoin360 The majorcryptocurrencyBitcoin is up around 0.2 percent over the past 24 hours, and is trading at $3,470 as of press time. However, following some slightlosseson the week, Bitcoin is holding its weekly momentum, reporting 0.26 growth over the past 7 days at press time. With that, Bitcoin is down significantly over the past 30 days, down 8.6 percent from around $3,799 on Jan. 4. Bitcoin 7-day price chart. Source:CoinMarketCap Ripple (XRP), the second-largest cryptocurrency by market cap, is up about 0.76 percent over the day, and is trading at $0.303 as of press time. The digital coin is up 3.89 percent over the past 7 days. Ripple 7-day price chart. Source:CoinMarketCap The third top crypto, Ethereum (ETH), is seeing slight growth of around 0.86 percent at press time, up by 2.86 on the week, trading at $108.29 at press time. Ethereum 7-day price chart. Source:CoinMarketCap Total cryptomarket capitalizationamounts to $114 billion at press time, seeing a slight increase from $113.4 billion over the 24-hour period. Total market capitalization 24-hour chart. Source:CoinMarketCap Maker (MKR) token, the 19th top coin by market cap, has seen its priceskyrocketby more than 17.5 percent on the day. Other coins that have seen significant fluctuations over the past 24 hours are Binance Coin (BNB) and Tron (TRON), which are up 6.8 and 6.26 percent, respectively. Recent reportsrevealedthat majorCanadiancrypto exchangeQuadrigaCX has lost $145 million in digital assets following the sudden death of its founder Gerry Cotten, who was the sole controller of the exchange’s cold wallets and corresponding digital keys. Following the news, crypto and blockchain writer Joseph Youngemphasizedthat QuadrigaCX’s incident will “not have any impact on Bitcoin,” citing the Chainalysisreportrevealing that around four million bitcoins had been lost forever due to wallet losses or physical destruction by November 2017. At press time, such amount of Bitcoin is worth of $13.8 billion, or around 22 percent of its current market capitalization. Meanwhile, stock marketsare upon Monday, with the NASDAQ outperforming with almost 0.9 percent growth and the S&P 500 reporting around 0.3 percent gain, according toCNBC. Stocks have reportedly completed last week with their best monthly growth since October 2015, while the S&P 500 saw its largest one-month rise since 1987. Majoroilindexes have seen mixed signals, with West Texas Intermediate (WTI) down around 1.21 percent, Brent Crude down 0.29 percent decline, according to data fromOilPrice. The OPEC Reference Basket is down 0.42 percent at press time. • Bitcoin Hovers Over the $3,450 Mark as Top Cryptos See Slight Losses • Bitcoin Approaches $3,500 as Top Cryptos See Growth • Bitcoin Stays Over $3,600 as Most Top Cryptos See Slight Gains • Bitcoin Hovers Under $3,600 as Top Cryptos Remain Mostly Stable \|\| Stock Market Sees Significant Growth, While Bitcoin Keeps Stability Over Past 7 Days: Monday, Feb. 4 — crypto markets have continued trading sideways over the past 24 hours, while Bitcoin ( BTC ) has been reasonably stable over the past 7 days, according to data from CoinMarketCap . Market visualization from Coin360 Market visualization from Coin360 The major cryptocurrency Bitcoin is up around 0.2 percent over the past 24 hours, and is trading at $3,470 as of press time. However, following some slight losses on the week, Bitcoin is holding its weekly momentum, reporting 0.26 growth over the past 7 days at press time. With that, Bitcoin is down significantly over the past 30 days, down 8.6 percent from around $3,799 on Jan. 4. Bitcoin 7-day price chart. Source: CoinMarketCap Bitcoin 7-day price chart. Source: CoinMarketCap Ripple ( XRP ), the second-largest cryptocurrency by market cap, is up about 0.76 percent over the day, and is trading at $0.303 as of press time. The digital coin is up 3.89 percent over the past 7 days. Ripple 7-day price chart. Source: CoinMarketCap Ripple 7-day price chart. Source: CoinMarketCap The third top crypto, Ethereum ( ETH ), is seeing slight growth of around 0.86 percent at press time, up by 2.86 on the week, trading at $108.29 at press time. Ethereum 7-day price chart. Source: CoinMarketCap Ethereum 7-day price chart. Source: CoinMarketCap Total crypto market capitalization amounts to $114 billion at press time, seeing a slight increase from $113.4 billion over the 24-hour period. Total market capitalization 24-hour chart. Source: CoinMarketCap Total market capitalization 24-hour chart. Source: CoinMarketCap Maker ( MKR ) token, the 19th top coin by market cap, has seen its price skyrocket by more than 17.5 percent on the day. Other coins that have seen significant fluctuations over the past 24 hours are Binance Coin (BNB) and Tron ( TRON ), which are up 6.8 and 6.26 percent, respectively. Recent reports revealed that major Canadian crypto exchange QuadrigaCX has lost $145 million in digital assets following the sudden death of its founder Gerry Cotten, who was the sole controller of the exchange’s cold wallets and corresponding digital keys. Following the news, crypto and blockchain writer Joseph Young emphasized that QuadrigaCX’s incident will “not have any impact on Bitcoin,” citing the Chainalysis report revealing that around four million bitcoins had been lost forever due to wallet losses or physical destruction by November 2017. At press time, such amount of Bitcoin is worth of $13.8 billion, or around 22 percent of its current market capitalization. Story continues Meanwhile, stock markets are up on Monday, with the NASDAQ outperforming with almost 0.9 percent growth and the S&P 500 reporting around 0.3 percent gain, according to CNBC . Stocks have reportedly completed last week with their best monthly growth since October 2015, while the S&P 500 saw its largest one-month rise since 1987. Major oil indexes have seen mixed signals, with West Texas Intermediate (WTI) down around 1.21 percent, Brent Crude down 0.29 percent decline, according to data from OilPrice . The OPEC Reference Basket is down 0.42 percent at press time. Related Articles: Bitcoin Hovers Over the $3,450 Mark as Top Cryptos See Slight Losses Bitcoin Approaches $3,500 as Top Cryptos See Growth Bitcoin Stays Over $3,600 as Most Top Cryptos See Slight Gains Bitcoin Hovers Under $3,600 as Top Cryptos Remain Mostly Stable \|\| Stock Market Sees Significant Growth, While Bitcoin Keeps Stability Over Past 7 Days: Monday, Feb. 4 — crypto markets have continued trading sideways over the past 24 hours, while Bitcoin (BTC) has been reasonably stable over the past 7 days, according to data fromCoinMarketCap. Market visualization fromCoin360 The majorcryptocurrencyBitcoin is up around 0.2 percent over the past 24 hours, and is trading at $3,470 as of press time. However, following some slightlosseson the week, Bitcoin is holding its weekly momentum, reporting 0.26 growth over the past 7 days at press time. With that, Bitcoin is down significantly over the past 30 days, down 8.6 percent from around $3,799 on Jan. 4. Bitcoin 7-day price chart. Source:CoinMarketCap Ripple (XRP), the second-largest cryptocurrency by market cap, is up about 0.76 percent over the day, and is trading at $0.303 as of press time. The digital coin is up 3.89 percent over the past 7 days. Ripple 7-day price chart. Source:CoinMarketCap The third top crypto, Ethereum (ETH), is seeing slight growth of around 0.86 percent at press time, up by 2.86 on the week, trading at $108.29 at press time. Ethereum 7-day price chart. Source:CoinMarketCap Total cryptomarket capitalizationamounts to $114 billion at press time, seeing a slight increase from $113.4 billion over the 24-hour period. Total market capitalization 24-hour chart. Source:CoinMarketCap Maker (MKR) token, the 19th top coin by market cap, has seen its priceskyrocketby more than 17.5 percent on the day. Other coins that have seen significant fluctuations over the past 24 hours are Binance Coin (BNB) and Tron (TRON), which are up 6.8 and 6.26 percent, respectively. Recent reportsrevealedthat majorCanadiancrypto exchangeQuadrigaCX has lost $145 million in digital assets following the sudden death of its founder Gerry Cotten, who was the sole controller of the exchange’s cold wallets and corresponding digital keys. Following the news, crypto and blockchain writer Joseph Youngemphasizedthat QuadrigaCX’s incident will “not have any impact on Bitcoin,” citing the Chainalysisreportrevealing that around four million bitcoins had been lost forever due to wallet losses or physical destruction by November 2017. At press time, such amount of Bitcoin is worth of $13.8 billion, or around 22 percent of its current market capitalization. Meanwhile, stock marketsare upon Monday, with the NASDAQ outperforming with almost 0.9 percent growth and the S&P 500 reporting around 0.3 percent gain, according toCNBC. Stocks have reportedly completed last week with their best monthly growth since October 2015, while the S&P 500 saw its largest one-month rise since 1987. Majoroilindexes have seen mixed signals, with West Texas Intermediate (WTI) down around 1.21 percent, Brent Crude down 0.29 percent decline, according to data fromOilPrice. The OPEC Reference Basket is down 0.42 percent at press time. • Bitcoin Hovers Over the $3,450 Mark as Top Cryptos See Slight Losses • Bitcoin Approaches $3,500 as Top Cryptos See Growth • Bitcoin Stays Over $3,600 as Most Top Cryptos See Slight Gains • Bitcoin Hovers Under $3,600 as Top Cryptos Remain Mostly Stable \|\| Living on Bitcoin for a Week in San Francisco: LOB coverThumbnail.jpg When I decided, maybe against my better judgement, to live on bitcoin for a week, the plan was met by a combination of cautions and jokes from friends and loved ones: “Just don’t starve,” “Well, it’s the New Year, a perfect time to start a new diet,” “Will you be able to eat?”, “Have you really thought about it?” I had “really” thought about it and it seemed not only sensible but necessary. Nakamoto’s white paper calls Bitcoin an “Electronic Cash System,” and I hadn’t stressed the cryptocurrency’s utility as an actual method of payment. My experiment would likely validate the strong opinions of skeptics (to whom bitcoin is either some nebulous scam at its worst or an outrageously valued trinket for prodigal hobbyists at its best) and that camp of maximalists who believe that bitcoin isn’t and never was digital cash. It’s a problem that Kashmir Hill ran into when she did her own experiments, more so in 2013 than 2014. In 2013, her final conclusion was that she had “survived” the week, but by 2014, she had herself a ball spending bitcoin. She went from conquering San Francisco’s hilly landscape on foot and bike in 2013 (and the occasional, simple pleasure of pizza and cupcakes) to the luxury of Uber rides, wine tours and even a strip club visit just a year later. She did well for herself the second go at it. I want to be able to do even better. That as my mindset going into my own version of the experiment, picking up five years later from where Hill had left off. If she survived on her first attempt, then I damn well ought to be able to thrive , I thought, going into it. Boy, was I dead wrong. A day or two in was all it would take to break this expectation as I soon learned that my experience would be unlike either of Hill’s. I anticipated great merchant adoption and with it a greater variety of services through which to use my bitcoin. I thought I was walking into a more vibrant Bitcoin scene than half a decade ago, an opportunity rich with ways I could offload my coin. Instead, I found (at least in San Francisco) that fewer merchants take bitcoin now than they did before and that the Bay area’s Bitcoin community, excepting those still active in it, had receded into altcoin enthusiasm and the flowering industry of “blockchain not Bitcoin” that had become the new darling of tech VCs and entrepreneurs. Those still involved in the community took care of me though, and the week was just as easy or as difficult as I wanted to make it. Living on Bitcoin Day 1: “That’s Not Going to Work” I set out to live on bitcoin for a week in San Francisco. Story continues Living On Bitcoin Day 2: Being “Unbanked” Has Been Easy … But Also Hard On Day 2 of living on bitcoin experiment in San Francisco, I go on the hunt for some bitcoin-friendly eateries. Living on Bitcoin Day 3: Brother, Can You Take a Sat? I desperately comb the streets of San Francisco, hoping to find someone — anyone — who will accept payment in bitcoin on Day 3 of my experiment. Living on Bitcoin Day 4: The Uphill Climb Living on bitcoin has been a bit of an uphill battle. On Day 4, I try out some gift card options and move into the Crypto Castle. Living on Bitcoin Day 5: An In-Store Buy At Last (Spoiler: It’s Pot-Related) I finally make a point-of-sale purchase with bitcoin, hunt for Coinbase’s headquarters and chat with a young entrepreneur. Living on Bitcoin Day 6: An Artist, a Dev and a Moon Boy Walk Into a Bar… I continue my San Francisco experiment, spending bitcoin and attending a meetup in a crypto-friendly bar with some great, diverse company. Living on Bitcoin Day 7: A Supposedly Fun Thing I’d Definitely Do Again I finally wrap up my week of living on bitcoin in San Francisco with visits to 20 Mission and bitcoin artist cryptograffiti. But first, I’ll have to survive a storm out on the Bay. Saying that I thrived while on bitcoin would be pushing it, but saying that I survived would be an embellishment. So I’ll put it another way: I subsisted. Plain and simple, I got by without buying into a strip club’s tit-for-tat (tit-for-bit?) or splurging on a high-dollar meal like Kashmir Hill did in 2014 (though I could do that here in Nashville, dropping fat sats for a meal at Flyte ). Sure, the drinks at Stookey’s weren’t cheap, but they weren’t a bottle of Dom either. I got by without even buying a meal from a merchant during my trip, relying on bitcoin-bought Uber Eats credit and friends to keep me fed. My experience was both anticlimactic and blindsiding. I could have done it anywhere, something that I describe in the write-ups as fascinating and frustrating at the same time. I didn’t need San Francisco to spend my bitcoin (a city that, the week made quite clear, didn’t really want my bitcoin). Bitcoin didn’t need the merchants, though, to be useful; infrastructure, like Paxful and Bitrefill, made it useful. As the series unfolded on social media, plenty of other bitcoin-to-gift-card services, like Fold App and Bidali, reached out to me on Twitter, reaching for a chance at a PR plug (don’t get me wrong, though — I respect the hustle). I used what I knew going into the experiment, though out of the three exchanges that I demoed (Paxful, Bitrefill and Gyft), I stuck with Bitrefill for its convenience and efficiency. I probably should have tried some of the other options, and I fully support any company building this infrastructure because, without it, the experiment would have been over by day two (or I would have had to swallow the probability of a seven-day fast as I wrestled with how much I cared about my journalistic integrity). So I learned that this experiment is either too easy or too impossible, depending on how you frame it. What else I learned (in a strictly Silicon Valley context): The general public’s enthusiasm for Bitcoin has been dampened with the market. Interest in altcoins and blockchain has, in part, replaced this enthusiasm. Because of this interest, there’s at least one place (The Boba Tea Shop) that accepts a motley of altcoins but not bitcoin. Fewer places accept bitcoin now than in 2013–2014. Places stopped accepting bitcoin either because their payment processors went under or because transaction times and fees were outrageous during the peak of the 2017 bull run. Transaction times were pretty quick and fees weren’t high (none of my transactions took over a minute the whole week unless I opted for a low fee). Even if merchant adoption has waned, infrastructure using bitcoin to leverage services (e.g., Bitrefill, Paxful, etc. for buying gift cards) has progressed. Bitcoin ATMs aren’t as cool as they sound. Merchants who don’t accept bitcoin will either be annoyed/amused/confused when you ask if they do. An unfortunate number of places that used to accept bitcoin don’t exist anymore. You still can’t buy coffee with bitcoin (unless you buy a gift card first). Pretty much all resources for locating bitcoin-accepting venues (like coinmap.org or Edge wallet’s merchant finder) are outdated. Mobile wallets are still too clunky and unreliable for mass adoption. You don’t need a payment processor to do a point of sale and I wish businesses would understand this. Bitcoin OGs are still around. If you decide to live on bitcoin for a week, they will help you out. You could get hammered on bitcoin in San Francisco with liquor-by-the-drink (or bottle). Bitcoin is (obviously) best as a store of value. Because of this, it has its faults as a payment method, but the community is aware of these faults. Coinbase has become a monolithic entity that is hard to penetrate. This experiment is not all-encompassing and would play out much differently elsewhere. That last point might be a bit foolhardy to make before I actually try it, but I was told on day one by a Czech booth exhibitor that Prague would be a breeze. Aaron van Wirdum corroborated this claim, adding that his home in the Netherlands (specifically Amsterdam and Rotterdam) would be a great testing ground for the experiment. Jared Harrell, a community manager at Quantstamp and Canadian native, told me Vancouver would be worth visiting while pouring praise on the Canadian bitcoin community’s constitution and significance (my editor, another proud bitcoin Canuck, has also implored me to have a go at it in Canada). I’ll get there eventually (I hope). I intend to replicate this science experiment to get a larger sample size, and I have a hunch that I’ll get different results in different jurisdictions. For now, New York, Canada (Quebec/Ontario), Czech Republic (Prague), Netherlands (Rotterdam/Amsterdam) and the U.K. (London) are on my list of test subjects, and, for the new experiments, I’ll attempt a heightened level of difficulty for the variables (including not using Bitrefill, Paxful, Gyft, etc.). Latin America is another place that comes to mind, probably the place that best exemplifies why this experiment is worthwhile. As the economic and political situations in Venezuela worsen, bitcoin’s relevance in the region is on prominent display, and its utility is infecting neighboring countries as a diaspora of Venezuelan refugees pours across the economically battered country’s borders. At the end of my experiment, I had the privileges of eschewing my bitcoin wallet in favor of my real one and I was elated to get to use cash (whether physical or digital) again. For those (and they’re out there) living unbanked or under the duress of a faltering monetary system, the experiment never ends — it’s a struggle they reckon with daily. So I also learned that, over the course of the week, I didn’t need to live on bitcoin, so the choice to was gratuitous and a bit opportunistic (it gave me something fabulous to write about and has supplied my cocktail-party-conversation reserves with endless new material). But I also learned that, if I needed to, I could live on bitcoin, just as a growing population of underserviced and financially neglected citizens across the globe could right now. Bitcoin is monetary sovereignty, and this experiment is being stress-tested every day. You didn’t need me to show and tell you that but that also doesn’t mean I won’t do it again. If you have tips or places you think Colin should visit, drop him a line on Twitter (@AsILayHodling) or email ([email protected]). This article originally appeared on Bitcoin Magazine . View comments \|\| Living on Bitcoin for a Week in San Francisco: When I decided, maybe against my better judgement, to live on bitcoin for a week, the plan was met by a combination of cautions and jokes from friends and loved ones: “Just don’t starve,” “Well, it’s the New Year, a perfect time to start a new diet,” “Will you be able to eat?”, “Have you really thought about it?” I had “really” thought about it and it seemed not only sensible but necessary. Nakamoto’s white paper calls Bitcoin an “Electronic Cash System,” and I hadn’t stressed the cryptocurrency’s utility as an actual method of payment. My experiment would likely validate the strong opinions of skeptics (to whom bitcoin is either some nebulous scam at its worst or an outrageously valued trinket for prodigal hobbyists at its best) and that camp of maximalists who believe that bitcoin isn’t and never was digital cash. It’s a problem that Kashmir Hill ran into when she did her own experiments, more so in 2013 than 2014. In 2013, her final conclusion was that she had “survived” the week, but by 2014, she had herself a ball spending bitcoin. She went from conquering San Francisco’s hilly landscape on foot and bike in 2013 (and the occasional, simple pleasure of pizza and cupcakes) to the luxury of Uber rides, wine tours and even a strip club visit just a year later. She did well for herself the second go at it. I want to be able to do even better. That as my mindset going into my own version of the experiment, picking up five years later from where Hill had left off. If she survived on her first attempt, then I damn well ought to be able tothrive, I thought, going into it. Boy, was I dead wrong. A day or two in was all it would take to break this expectation as I soon learned that my experience would be unlike either of Hill’s. I anticipated great merchant adoption and with it a greater variety of services through which to use my bitcoin. I thought I was walking into a more vibrant Bitcoin scene than half a decade ago, an opportunity rich with ways I could offload my coin. Instead, I found (at least in San Francisco) that fewer merchants take bitcoin now than they did before and that the Bay area’s Bitcoin community, excepting those still active in it, had receded into altcoin enthusiasm and the flowering industry of “blockchain not Bitcoin” that had become the new darling of tech VCs and entrepreneurs. Those still involved in the community took care of me though, and the week was just as easy or as difficult as I wanted to make it. Living on Bitcoin Day 1: “That’s Not Going to Work” I set out to live on bitcoin for a week in San Francisco. Living On Bitcoin Day 2: Being “Unbanked” Has Been Easy … But Also Hard On Day 2 of living on bitcoin experiment in San Francisco, I go on the hunt for some bitcoin-friendly eateries. Living on Bitcoin Day 3: Brother, Can You Take a Sat? I desperately comb the streets of San Francisco, hoping to find someone — anyone — who will accept payment in bitcoin on Day 3 of my experiment. Living on Bitcoin Day 4: The Uphill Climb Living on bitcoin has been a bit of an uphill battle. On Day 4, I try out some gift card options and move into the Crypto Castle. Living on Bitcoin Day 5: An In-Store Buy At Last (Spoiler: It’s Pot-Related) I finally make a point-of-sale purchase with bitcoin, hunt for Coinbase’s headquarters and chat with a young entrepreneur. Living on Bitcoin Day 6: An Artist, a Dev and a Moon Boy Walk Into a Bar… I continue my San Francisco experiment, spending bitcoin and attending a meetup in a crypto-friendly bar with some great, diverse company. Living on Bitcoin Day 7: A Supposedly Fun Thing I’d Definitely Do Again I finally wrap up my week of living on bitcoin in San Francisco with visits to 20 Mission and bitcoin artist cryptograffiti. But first, I’ll have to survive a storm out on the Bay. Saying that I thrived while on bitcoin would be pushing it, but saying that I survived would be an embellishment. So I’ll put it another way: I subsisted. Plain and simple, I got by without buying into a strip club’s tit-for-tat (tit-for-bit?) or splurging on a high-dollar meal like Kashmir Hill did in 2014 (though I could do that here in Nashville, dropping fat sats for a meal atFlyte). Sure, the drinks at Stookey’s weren’t cheap, but they weren’t a bottle of Dom either. I got by without even buying a meal from a merchant during my trip, relying on bitcoin-bought Uber Eats credit and friends to keep me fed. My experience was both anticlimactic and blindsiding. I could have done it anywhere, something that I describe in the write-ups as fascinating and frustrating at the same time. I didn’t need San Francisco to spend my bitcoin (a city that, the week made quite clear, didn’t really want my bitcoin). Bitcoin didn’t need the merchants, though, to be useful; infrastructure, like Paxful and Bitrefill, made it useful. As the series unfolded on social media, plenty of other bitcoin-to-gift-card services, like Fold App and Bidali, reached out to me on Twitter, reaching for a chance at a PR plug (don’t get me wrong, though — I respect the hustle). I used what I knew going into the experiment, though out of the three exchanges that I demoed (Paxful, Bitrefill and Gyft), I stuck with Bitrefill for its convenience and efficiency. I probably should have tried some of the other options, and I fully support any company building this infrastructure because, without it, the experiment would have been over by day two (or I would have had to swallow the probability of a seven-day fast as I wrestled with how much I cared about my journalistic integrity). So I learned that this experiment is either too easy or too impossible, depending on how you frame it. What else I learned (in a strictly Silicon Valley context): • The general public’s enthusiasm for Bitcoin has been dampened with the market. • Interest in altcoins and blockchain has, in part, replaced this enthusiasm. • Because of this interest, there’s at least one place (The Boba Tea Shop) that accepts a motley of altcoins but not bitcoin. • Fewer places accept bitcoin now than in 2013–2014. • Places stopped accepting bitcoin either because their payment processors went under or because transaction times and fees were outrageous during the peak of the 2017 bull run. • Transaction times were pretty quick and fees weren’t high (none of my transactions took over a minute the whole week unless I opted for a low fee). • Even if merchant adoption has waned, infrastructure using bitcoin to leverage services (e.g., Bitrefill, Paxful, etc. for buying gift cards) has progressed. • Bitcoin ATMs aren’t as cool as they sound. • Merchants who don’t accept bitcoin will either be annoyed/amused/confused when you ask if they do. • An unfortunate number of places that used to accept bitcoin don’t exist anymore. • You still can’t buy coffee with bitcoin (unless you buy a gift card first). • Pretty much all resources for locating bitcoin-accepting venues (like coinmap.org or Edge wallet’s merchant finder) are outdated. • Mobile wallets are still too clunky and unreliable for mass adoption. • You don’t need a payment processor to do a point of sale and I wish businesses would understand this. • Bitcoin OGs are still around. • If you decide to live on bitcoin for a week, they will help you out. • You could get hammered on bitcoin in San Francisco with liquor-by-the-drink (or bottle). • Bitcoin is (obviously) best as a store of value. • Because of this, it has its faults as a payment method, but the community is aware of these faults. • Coinbase has become a monolithic entity that is hard to penetrate. • This experiment is not all-encompassing and would play out much differently elsewhere. That last point might be a bit foolhardy to make before I actually try it, but I was told on day one by a Czech booth exhibitor that Prague would be a breeze. Aaron van Wirdum corroborated this claim, adding that his home in the Netherlands (specifically Amsterdam and Rotterdam) would be a great testing ground for the experiment. Jared Harrell, a community manager at Quantstamp and Canadian native, told me Vancouver would be worth visiting while pouring praise on the Canadian bitcoin community’s constitution and significance (my editor, another proud bitcoin Canuck, has also implored me to have a go at it in Canada). I’ll get there eventually (I hope). I intend to replicate this science experiment to get a larger sample size, and I have a hunch that I’ll get different results in different jurisdictions. For now, New York, Canada (Quebec/Ontario), Czech Republic (Prague), Netherlands (Rotterdam/Amsterdam) and the U.K. (London) are on my list of test subjects, and, for the new experiments, I’ll attempt a heightened level of difficulty for the variables (including not using Bitrefill, Paxful, Gyft, etc.). Latin America is another place that comes to mind, probably the place that best exemplifies why this experiment is worthwhile. As the economic and political situations in Venezuela worsen, bitcoin’s relevance in the region is on prominent display, and its utility is infecting neighboring countries as a diaspora of Venezuelan refugees pours across the economically battered country’s borders. At the end of my experiment, I had the privileges of eschewing my bitcoin wallet in favor of my real one and I was elated to get to use cash (whether physical or digital) again. For those (and they’re out there) living unbanked or under the duress of a faltering monetary system, the experiment never ends — it’s a struggle they reckon with daily. So I also learned that, over the course of the week, I didn’t need to live on bitcoin, so the choice to was gratuitous and a bit opportunistic (it gave me something fabulous to write about and has supplied my cocktail-party-conversation reserves with endless new material). But I also learned that, if I needed to, I could live on bitcoin, just as a growing population of underserviced and financially neglected citizens across the globe could right now. Bitcoin is monetary sovereignty, and this experiment is being stress-tested every day. You didn’t need me to show and tell you that but thatalsodoesn’t mean I won’t do it again. If you have tips or places you think Colin should visit, drop him a line on Twitter (@AsILayHodling) or email ([email protected]). This article originally appeared onBitcoin Magazine. [Social Media Buzz] [08:00] Most mentioned tickers in the last 4 hours: $BTC $TRX $NPXS $BTT $XRP $ETH $THETA $HOT $XLM $LTCpic.twitter.com/m53h2KQtDo \|\| Cotización del Bitcoin Cash: 101 50.€ \| -0.39% \| Kraken \| 05/02/19 18:00 #BitcoinCash #Kraken #BCHEUR \|\| 最もBTC/JPYの取引量が多いのは？(2019-02-05 22:00:06 現在) Liquid 16570.751978 bitFlyer 2211.836691 coincheck 1968.074252 Zaif 676.141700 bitbank 484.680600 BITPoint 100.762291 \|\| 1,476 $BTC ($5,086,665.00 USD) transferred from Unknown ...	3413.77, 3399.47, 3666.78, 3671.20, 3690.19, 3648.43, 3653.53, 3632.07, 3616.88, 3620.81
Given the historical Bitcoin prices from the last 90 days, predict the next 10 daily closing prices. The historical prices are: 1154.73, 1013.38, 902.20, 908.59, 911.20, 902.83, 907.68, 777.76, 804.83, 823.98, 818.41, 821.80, 831.53, 907.94, 886.62, 899.07, 895.03, 921.79, 924.67, 921.01, 892.69, 901.54, 917.59, 919.75, 921.59, 919.50, 920.38, 970.40, 989.02, 1011.80, 1029.91, 1042.90, 1027.34, 1038.15, 1061.35, 1063.07, 994.38, 988.67, 1004.45, 999.18, 990.64, 1004.55, 1007.48, 1027.44, 1046.21, 1054.42, 1047.87, 1079.98, 1115.30, 1117.44, 1166.72, 1173.68, 1143.84, 1165.20, 1179.97, 1179.97, 1222.50, 1251.01, 1274.99, 1255.15, 1267.12, 1272.83, 1223.54, 1150.00, 1188.49, 1116.72, 1175.83, 1221.38, 1231.92, 1240.00, 1249.61, 1187.81, 1100.23, 973.82, 1036.74, 1054.23, 1120.54, 1049.14, 1038.59, 937.52, 972.78, 966.72, 1045.77, 1047.15, 1039.97, 1026.43, 1071.79, 1080.50, 1102.17, 1143.81.	[Bitcoin Technical Analysis for 2017-04-03] Volume: 580444032, RSI (14-day): 56.44, 50-day EMA: 1079.06, 200-day EMA: 905.73 [Wider Market Context] Gold Price: 1250.80, Gold RSI: 61.16 Oil Price: 50.24, Oil RSI: 51.74 [Recent News (last 7 days)] Now I Get It: Bitcoin: Man, if anything needs the now I get it treatment, its Bitcoin . You hear about it all the time in financial and technical circles but most people really dont grasp it. Bitcoin is an alternative kind of currency. Its entirely digitaltheres no paper money, theres no coins, nothing physical, not even a plastic card for your wallet. Your bitcoins are stored on your computer or your phone. If your hard drive crashes without a backup, you lose your bitcoins. This arrangement has some stunning advantages over traditional currency or credit cards: Between buyer and seller, theres no bank or credit-card company involved, no middleman who can charge fees. The entire Bitcoin banking system is a global peer-to-peer network, running Bitcoin software. When you buy something from someone in another country, theres no waiting to convert currenciesand again, no fees. All transactions are essentially anonymous, which is super convenient if youre a drug dealer or arms dealer. Theres a whole lot of really cool, really complicated math involved in Bitcoin, designed to keep it secure and to prevent Bitcoin inflation. For example: the complete record of all Bitcoin transactionsa massive digital ledger called the blockchain is stored on all Bitcoin users computers, rather than being held by a central authority. Bitcoin was born in 2009, the proposal of an anonymously written white paper. Theres no government to decide when to print new money in this case, so new bitcoins are minedcreatedthrough a complex scheme you can read about here . In essence, anyone can create new bitcoins, but dont think youll get rich that way. The job requires massive, expensive, high-horsepower computers that must slog through gigantic calculations to mine new money. The complexity of the math involved is adjusted so that its just barely profitable to mine bitcoins, and so that only a few bitcoins come into existence every 10 minutes. This production will stop when there are 21 million bitcoins on earth, which is supposed to happen around 2140 . After thatthats all the bitcoins therell ever be. So how do you get bitcoins? Same way you get euros or yen or pesos: You buy it with traditional currency like dollars. You can use online exchanges like Bitstamp and Coinbase . At this writing, one bitcoin costs about $1,078. What to do with bitcoins When you get a Bitcoin addresssomething like an email addressyou also get a complex password known as a private key, which you need to access your stash. At that point, you can transfer money to other people by sending it to their Bitcoin addresses. Story continues You can also pay for goods and services at some merchants, like Subway and Xbox; theyre delighted when that happens, because they dont lose 3% of the transaction in credit-card fees. But in the big picture, the list of places that accept Bitcoin is fairly small. And you dont get any particular benefit by paying for something this way. Bitcoin as an investment The good news is that since Bitcoins creation eight years ago, its value has gone up by quite a bitfrom well under a penny to over $1,000 per bitcoin today. The bad news is that its value is incredibly volatile. Remember this past January, when it dropped by a fifth in a day? Good times. Should you dive in? So: Bitcoin is fascinating, but its not very useful, at least not to most people. Some people love it, for sure, like investors with a taste for risk, tech-savvy early adopters, technically-minded libertarians, and criminals. But keep in mind that there are lots of exciting ways to lose all your bitcoins. Like if your hard drive crashes without a backup, and you lose your private key. Or if you get a Bitcoin virus, of which there are now many . Or if your Bitcoin exchange goes out of business, which has happened plenty; in fact, 18 of the first 40 exchanges had gone under as of 2013, taking all their clients money with them. Remember, this whole thing is largely unregulated. If you buy something with a credit card and you get ripped off, you can call an 800 number and the credit-card company will get your money back. But if you get ripped off with a Bitcoin transaction sorry! You voted for no middleman, remember? In the meantime, for most people, Bitcoin is a fascinating development thats a worthy topic of studyjust not for ownership. More from David Pogue: The Fitbit Alta HR band is the least dorky fitness band you can buy David Pogues search for the worlds best air-travel app David Pogue tested 47 pill-reminder apps to find the best one The little-known iPhone feature that lets blind people see with their fingers I paid $3,000 for my MacBook Pro and got emotional whiplash Heres the real money-maker for the Internet of Things David Pogue, tech columnist for Yahoo Finance, welcomes non-toxic comments in the Comments below. On the web, hes davidpogue.com . On Twitter, hes @pogue . On email, hes [email protected]. You can read all his articles here , or you can sign up to get his columns by email . View comments \|\| Now I Get It: Bitcoin: Man, if anything needs the “now I get it” treatment, it’sBitcoin. You hear about it all the time infinancial and technical circles—but most people really don’t grasp it. Bitcoin is an alternative kind of currency. It’s entirely digital—there’s no paper money, there’s no coins, nothing physical, not even a plastic card for your wallet. Your bitcoins are stored on your computer or your phone. If your hard drive crashes without a backup, you lose your bitcoins. This arrangement has some stunning advantages over traditional currency or credit cards: • Between buyer and seller, there’s no bank or credit-card company involved, no middleman who can charge fees. The entire Bitcoin banking system is a global peer-to-peer network, running Bitcoin software. • When you buy something from someone in another country, there’s no waiting to convert currencies—and again, no fees. • All transactions areessentiallyanonymous, which is super convenient if you’re a drug dealer or arms dealer. There’s a whole lot of really cool, really complicated math involved in Bitcoin, designed to keep it secure and to prevent Bitcoin inflation. For example: the complete record of all Bitcoin transactions—a massive digital ledger called theblockchain—is stored on all Bitcoin users’ computers, rather than being held by a central authority. Bitcoin was born in 2009, the proposal of an anonymously written white paper. There’s no government to decide when to print new money in this case, so new bitcoins are “mined”—created—through a complex scheme you can read abouthere. In essence, anyone can create new bitcoins, but don’t think you’ll get rich that way. The job requires massive, expensive, high-horsepower computers that must slog through gigantic calculations to “mine” new money. The complexity of the math involved is adjusted so that it’s just barely profitable to mine bitcoins, and so that only a few bitcoins come into existence every 10 minutes. This production will stop when there are 21 million bitcoins on earth, which is supposed tohappen around 2140. After that—that’s all the bitcoins there’ll ever be. So how do you get bitcoins? Same way you get euros or yen or pesos: You buy it with traditional currency like dollars. You can use online exchanges likeBitstampandCoinbase. At this writing, one bitcoin costs about $1,078. When you get a Bitcoin address—something like an email address—you also get a complex password known as a private key, which you need to access your stash. At that point, you can transfer money to other people by sending it to their Bitcoin addresses. You can also pay for goods and services at some merchants, like Subway and Xbox; they’re delighted when that happens, because they don’t lose 3% of the transaction in credit-card fees. But in the big picture,the list of places that accept Bitcoinis fairly small. Andyoudon’t get any particular benefit by paying for something this way. The good news is that since Bitcoin’s creation eight years ago, its value has gone up by quite a bit—from well under a penny to over $1,000 per bitcoin today. The bad news is that its value is incredibly volatile. Remember this past January,when it dropped by a fifthin a day? Good times. So: Bitcoin is fascinating, but it’s not very useful, at least not to most people. Some people love it, for sure, like investors with a taste for risk, tech-savvy early adopters, technically-minded libertarians, and criminals. But keep in mind that there are lots of exciting ways to lose all your bitcoins. Like if your hard drive crashes without a backup, and you lose your private key. Or if you get a Bitcoin virus, of whichthere are now many. Or if your Bitcoin exchange goes out of business, which has happened plenty; in fact,18 of the first 40 exchanges had gone underas of 2013, taking all their clients’ money with them. Remember, this whole thing is largely unregulated. If you buy something with a credit card and you get ripped off, you can call an 800 number and the credit-card company will get your money back. But if you get ripped off with a Bitcoin transaction … sorry! You voted for no middleman, remember? In the meantime, for most people, Bitcoin is a fascinating development that’s a worthy topic of study—just not for ownership. More from David Pogue: The Fitbit Alta HR band is the least dorky fitness band you can buy David Pogue’s search for the world’s best air-travel app David Pogue tested 47 pill-reminder apps to find the best one The little-known iPhone feature that lets blind people see with their fingers I paid $3,000 for my MacBook Pro and got emotional whiplash Here’s the real money-maker for the Internet of Things David Pogue, tech columnist for Yahoo Finance, welcomes non-toxic comments in the Comments below. On the web, he’sdavidpogue.com. On Twitter, he’s@pogue. On email, he’s [email protected]. You canread all his articles here, or you can sign up toget his columns by email. \|\| Now I Get It: Bitcoin: Man, if anything needs the “now I get it” treatment, it’sBitcoin. You hear about it all the time infinancial and technical circles—but most people really don’t grasp it. Bitcoin is an alternative kind of currency. It’s entirely digital—there’s no paper money, there’s no coins, nothing physical, not even a plastic card for your wallet. Your bitcoins are stored on your computer or your phone. If your hard drive crashes without a backup, you lose your bitcoins. This arrangement has some stunning advantages over traditional currency or credit cards: • Between buyer and seller, there’s no bank or credit-card company involved, no middleman who can charge fees. The entire Bitcoin banking system is a global peer-to-peer network, running Bitcoin software. • When you buy something from someone in another country, there’s no waiting to convert currencies—and again, no fees. • All transactions areessentiallyanonymous, which is super convenient if you’re a drug dealer or arms dealer. There’s a whole lot of really cool, really complicated math involved in Bitcoin, designed to keep it secure and to prevent Bitcoin inflation. For example: the complete record of all Bitcoin transactions—a massive digital ledger called theblockchain—is stored on all Bitcoin users’ computers, rather than being held by a central authority. Bitcoin was born in 2009, the proposal of an anonymously written white paper. There’s no government to decide when to print new money in this case, so new bitcoins are “mined”—created—through a complex scheme you can read abouthere. In essence, anyone can create new bitcoins, but don’t think you’ll get rich that way. The job requires massive, expensive, high-horsepower computers that must slog through gigantic calculations to “mine” new money. The complexity of the math involved is adjusted so that it’s just barely profitable to mine bitcoins, and so that only a few bitcoins come into existence every 10 minutes. This production will stop when there are 21 million bitcoins on earth, which is supposed tohappen around 2140. After that—that’s all the bitcoins there’ll ever be. So how do you get bitcoins? Same way you get euros or yen or pesos: You buy it with traditional currency like dollars. You can use online exchanges likeBitstampandCoinbase. At this writing, one bitcoin costs about $1,078. When you get a Bitcoin address—something like an email address—you also get a complex password known as a private key, which you need to access your stash. At that point, you can transfer money to other people by sending it to their Bitcoin addresses. You can also pay for goods and services at some merchants, like Subway and Xbox; they’re delighted when that happens, because they don’t lose 3% of the transaction in credit-card fees. But in the big picture,the list of places that accept Bitcoinis fairly small. Andyoudon’t get any particular benefit by paying for something this way. The good news is that since Bitcoin’s creation eight years ago, its value has gone up by quite a bit—from well under a penny to over $1,000 per bitcoin today. The bad news is that its value is incredibly volatile. Remember this past January,when it dropped by a fifthin a day? Good times. So: Bitcoin is fascinating, but it’s not very useful, at least not to most people. Some people love it, for sure, like investors with a taste for risk, tech-savvy early adopters, technically-minded libertarians, and criminals. But keep in mind that there are lots of exciting ways to lose all your bitcoins. Like if your hard drive crashes without a backup, and you lose your private key. Or if you get a Bitcoin virus, of whichthere are now many. Or if your Bitcoin exchange goes out of business, which has happened plenty; in fact,18 of the first 40 exchanges had gone underas of 2013, taking all their clients’ money with them. Remember, this whole thing is largely unregulated. If you buy something with a credit card and you get ripped off, you can call an 800 number and the credit-card company will get your money back. But if you get ripped off with a Bitcoin transaction … sorry! You voted for no middleman, remember? In the meantime, for most people, Bitcoin is a fascinating development that’s a worthy topic of study—just not for ownership. More from David Pogue: The Fitbit Alta HR band is the least dorky fitness band you can buy David Pogue’s search for the world’s best air-travel app David Pogue tested 47 pill-reminder apps to find the best one The little-known iPhone feature that lets blind people see with their fingers I paid $3,000 for my MacBook Pro and got emotional whiplash Here’s the real money-maker for the Internet of Things David Pogue, tech columnist for Yahoo Finance, welcomes non-toxic comments in the Comments below. On the web, he’sdavidpogue.com. On Twitter, he’s@pogue. On email, he’s [email protected]. You canread all his articles here, or you can sign up toget his columns by email. \|\| What You Must Know Before Subscribing to a VPN: When the U.S. Congress voted recently to overturn a Federal Communications Commission (FCC) rule requiring internet service providers (ISPs) to get a customer's permission before selling personally identifiable information, that kicked off a land rush to find virtual private network (VPN) providers to protect consumers' online privacy. There are literally hundreds of VPNs to choose from, however, and if you're not sure what these do and what they don't do, you could easily end up with a VPN that doesn't add much to your privacy except another subscription fee. The idea of a VPN is quite simple: it provides a secure (encrypted) tunnel between your device and a website, bypassing the traffic logs kept by your ISP. For example, if your ISP is in New York City, a VPN service allows you to connect with any of several servers anywhere in the world, making it look to the website that the connection is being made from one of those servers and not the ISP you use in New York. ALSO READ: Nearly 400 2017 Data Breaches Have Exposed More Than 7 Million Records Your ISP can't keep a useful log of your VPN activity because it doesn't know who requested the data or from where the requested data is coming. But your VPN knows, and that's the first thing you want to learn about any VPN provider: does the VPN keep traffic logs and, if so, what does it do with them? Some VPNs do keep traffic logs in order to provide themselves with legal protection in the event of a government request. Others keep some minimal data in order to help maintain their servers. Still others, sadly, collect the data and sell it to third parties. Because that's what you are probably trying to avoid, read the fine print and be sure to choose a service that states categorically that it does not keep logs, making sure to specify exactly the logs they don't keep. Be especially sure that the ISP does not keep activity or connection logs. ALSO READ: 14 Million Credentials Stolen from US Universities for Sale on Dark Web Story continues A good general overview of online privacy and VPNs is posted at Krebs on Security. More comprehensive tips on selecting a VPN, with more details and a comparison chart for nearly 200 VPN providers is available at That One Privacy Site. Here's a much shorter version of some of the site's guidelines: Beware of VPN review websites, which are nearly always paid reviews. Also look more carefully at affiliate VPN programs. Be aware of where the VPN service's servers are located and where in the world you will be connecting to the VPN. Check on payment methods, such as Bitcoin, cash or anonymous gift cards, that allow you to maintain your privacy. Choose a VPN that maintains its own first-party domain name server (DNS) that doesn't leak, and check it to make sure. Choose a VPN that provides an IPv6 DNS server that is only reachable through a VPN tunnel, and then test it to make sure that's true. Choose a VPN that has strong data and handshake encryption. Deciding if you want a VPN and the features of the VPN that are most important to you will take some time, and it will come with a price of around $10 a month. It's up to you to make sure you're getting the privacy protection you're paying for. Related Articles Countries Buying the Most Weapons From the US Government States Where the Most People Have Green Cards America's Happiest (and Most Miserable) States \|\| What You Must Know Before Subscribing to a VPN: When the U.S. Congress voted recently to overturn a Federal Communications Commission (FCC) rule requiring internet service providers (ISPs) to get a customer's permission before selling personally identifiable information, that kicked off a land rush to find virtual private network (VPN) providers to protect consumers' online privacy. There are literally hundreds of VPNs to choose from, however, and if you're not sure what these do and what they don't do, you could easily end up with a VPN that doesn't add much to your privacy except another subscription fee. The idea of a VPN is quite simple: it provides a secure (encrypted) tunnel between your device and a website, bypassing the traffic logs kept by your ISP. For example, if your ISP is in New York City, a VPN service allows you to connect with any of several servers anywhere in the world, making it look to the website that the connection is being made from one of those servers and not the ISP you use in New York. ALSO READ:Nearly 400 2017 Data Breaches Have Exposed More Than 7 Million Records Your ISP can't keep a useful log of your VPN activity because it doesn't know who requested the data or from where the requested data is coming. But your VPN knows, and that's the first thing you want to learn about any VPN provider: does the VPN keep traffic logs and, if so, what does it do with them? Some VPNs do keep traffic logs in order to provide themselves with legal protection in the event of a government request. Others keep some minimal data in order to help maintain their servers. Still others, sadly, collect the data and sell it to third parties. Because that's what you are probably trying to avoid, read the fine print and be sure to choose a service that states categorically that it does not keep logs, making sure to specify exactly the logs they don't keep. Be especially sure that the ISP does not keep activity or connection logs. ALSO READ:14 Million Credentials Stolen from US Universities for Sale on Dark Web A good general overview of online privacy and VPNs is posted at Krebs on Security. More comprehensive tips on selecting a VPN, with more details and a comparison chart for nearly 200 VPN providers is available at That One Privacy Site. Here's a much shorter version of some of the site's guidelines: • Beware of VPN review websites, which are nearly always paid reviews. Also look more carefully at affiliate VPN programs. • Be aware of where the VPN service's servers are located and where in the world you will be connecting to the VPN. • Check on payment methods, such as Bitcoin, cash or anonymous gift cards, that allow you to maintain your privacy. • Choose a VPN that maintains its own first-party domain name server (DNS) that doesn't leak, and check it to make sure. • Choose a VPN that provides an IPv6 DNS server that is only reachable through a VPN tunnel, and then test it to make sure that's true. • Choose a VPN that has strong data and handshake encryption. Deciding if you want a VPN and the features of the VPN that are most important to you will take some time, and it will come with a price of around $10 a month. It's up to you to make sure you're getting the privacy protection you're paying for. Related Articles • Countries Buying the Most Weapons From the US Government • States Where the Most People Have Green Cards • America's Happiest (and Most Miserable) States \|\| Flow's Ultimate Football Experience Attracts Top Manchester United Star: MIAMI, FL--(Marketwired - Mar 31, 2017) - When young Jamaican footballers take to the field on April 1stfor theFlow Ultimate Football Experiencethey'll be joined by Manchester United (Man Utd) Legend and fan favourite, Quinton Fortune who will share words of encouragement and guidance to the youngsters. The tough-tackling midfielder and South African international, earned his place in the hearts of his friends, peers and supporters of Man Utd after a 6-year stint with the club. He's one of several Man Utd Legends who will be present in some of Flow's markets at the skills-based events, leading up to theFlow Ultimate Football Experience Finalin Trinidad on May 7th. During his time at Old Trafford, Fortune displayed an honourable sense of determination and drive, despite being hampered by a string of unfortunate injuries. As part of the club, he earned the Intercontinental Cup (1999) and the FA Community Shield (2003) before moving on to other teams. Like many other former pro footballers, Fortune is not just a player; he's a coach, too. After his retirement in 2010, he spent time training with Man Utd's reserve team while simultaneously working towards his coaching badges, which he received in 2013. Needless to say, Fortune -- who wore number 25 with the Reds -- brings a unique combination of playing experience and coaching acumen to the Jamaican chapter of theFlow Ultimate Football Experience. And not only will the youngsters get expert advice on ways to enhance their performance, they'll also doubtlessly get a fresh boost of energy by simply playing in the presence of one of football's best. Flow and Manchester United's latest region-wide initiative, theFlow Ultimate Football Experienceis designed to give youngsters the chance-of-a-lifetime to participate in local talent development football camps across Flow's 15 markets. Two winners from each country will advance to the two-day skills session in T&T to experience one-on-one training with Caribbean Football Union (CFU) and Manchester United Soccer School Coaches. There, they will participate in a series of drills designed by the coaches and compete for the chance for two finalists and their coach to win a once-in-a-lifetime trip to Old Trafford in Manchester, England to seeMan Utd in a Premier League fixture. Skilled boys and girls between the ages of 13 to 16 can register online athttps://discoverflow.co/flowmanutd. Follow Flow Jamaica onFacebookand Twitter@FlowJamaicato track his visit to Jamaica for theFlow Ultimate Football Experience! "Flow and Manchester United - together we are in a different league." About C&W Communications C&W is a full service communications and entertainment provider and delivers market-leading video, broadband, telephony and mobile services to consumers in 18 countries. Through its business division, C&W provides data center hosting, domestic and international managed network services, and customized IT service solutions, utilizing cloud technology to serve business and government customers. C&W also operates a state-of-the-art submarine fiber network -- the most extensive in the region. Learn more atwww.cwc.com, or follow C&W onLinkedIn,FacebookorTwitter. About Liberty Global Liberty Global is the world's largest international TV and broadband company, with operations in more than 30 countries across Europe, Latin America and the Caribbean. We invest in the infrastructure that empowers our customers to make the most of the digital revolution. Our scale and commitment to innovation enable us to develop market-leading products delivered through next generation networks that connect our 25 million customers who subscribe to over 50 million television, broadband internet and telephony services. We also serve over 10 million mobile subscribers and offer WiFi service across 5 million access points. Liberty Global's businesses are comprised of two stocks: the Liberty Global Group (NASDAQ:LBTYA) (NASDAQ:LBTYB) (NASDAQ:LBTYK) for our European operations, and the LiLAC Group (NASDAQ:LILA) and (NASDAQ:LILAK) (OTC PINK:LILAB), which consists of our operations in Latin America and the Caribbean. The Liberty Global Group operates in 11 European countries under the consumer brands Virgin Media, Unitymedia, Telenet and UPC. The Liberty Global Group also owns 50% of VodafoneZiggo, a Dutch joint venture, which has 4 million customers, 10 million fixed-line subscribers and 5 million mobile subscribers. The LiLAC Group operates in over 20 countries in Latin America and the Caribbean under the consumer brands VTR, Flow, Liberty, Más Móvil and BTC. In addition, the LiLAC Group operates a sub-sea fiber network throughout the region in over 30 markets. For more information, please visitwww.libertyglobal.com. Image Available:http://www2.marketwire.com/mw/frame_mw?attachid=3125292 \|\| Flow's Ultimate Football Experience Attracts Top Manchester United Star: MIAMI, FL--(Marketwired - Mar 31, 2017) - When young Jamaican footballers take to the field on April 1 st for the Flow Ultimate Football Experience they'll be joined by Manchester United (Man Utd) Legend and fan favourite, Quinton Fortune who will share words of encouragement and guidance to the youngsters. The tough-tackling midfielder and South African international, earned his place in the hearts of his friends, peers and supporters of Man Utd after a 6-year stint with the club. He's one of several Man Utd Legends who will be present in some of Flow's markets at the skills-based events, leading up to the Flow Ultimate Football Experience Final in Trinidad on May 7 th . During his time at Old Trafford, Fortune displayed an honourable sense of determination and drive, despite being hampered by a string of unfortunate injuries. As part of the club, he earned the Intercontinental Cup (1999) and the FA Community Shield (2003) before moving on to other teams. Like many other former pro footballers, Fortune is not just a player; he's a coach, too. After his retirement in 2010, he spent time training with Man Utd's reserve team while simultaneously working towards his coaching badges, which he received in 2013. Needless to say, Fortune -- who wore number 25 with the Reds -- brings a unique combination of playing experience and coaching acumen to the Jamaican chapter of the Flow Ultimate Football Experience . And not only will the youngsters get expert advice on ways to enhance their performance, they'll also doubtlessly get a fresh boost of energy by simply playing in the presence of one of football's best. Flow and Manchester United's latest region-wide initiative, the Flow Ultimate Football Experience is designed to give youngsters the chance-of-a-lifetime to participate in local talent development football camps across Flow's 15 markets. Two winners from each country will advance to the two-day skills session in T&T to experience one-on-one training with Caribbean Football Union (CFU) and Manchester United Soccer School Coaches. There, they will participate in a series of drills designed by the coaches and compete for the chance for two finalists and their coach to win a once-in-a-lifetime trip to Old Trafford in Manchester, England to see Man Utd in a Premier League fixture . Story continues Skilled boys and girls between the ages of 13 to 16 can register online at https://discoverflow.co/flowmanutd . Follow Flow Jamaica on Facebook and Twitter @FlowJamaica to track his visit to Jamaica for the Flow Ultimate Football Experience ! " Flow and Manchester United - together we are in a different league ." About C&W Communications C&W is a full service communications and entertainment provider and delivers market-leading video, broadband, telephony and mobile services to consumers in 18 countries. Through its business division, C&W provides data center hosting, domestic and international managed network services, and customized IT service solutions, utilizing cloud technology to serve business and government customers. C&W also operates a state-of-the-art submarine fiber network -- the most extensive in the region. Learn more at www.cwc.com , or follow C&W on LinkedIn , Facebook or Twitter . About Liberty Global Liberty Global is the world's largest international TV and broadband company, with operations in more than 30 countries across Europe, Latin America and the Caribbean. We invest in the infrastructure that empowers our customers to make the most of the digital revolution. Our scale and commitment to innovation enable us to develop market-leading products delivered through next generation networks that connect our 25 million customers who subscribe to over 50 million television, broadband internet and telephony services. We also serve over 10 million mobile subscribers and offer WiFi service across 5 million access points. Liberty Global's businesses are comprised of two stocks: the Liberty Global Group ( NASDAQ : LBTYA ) ( NASDAQ : LBTYB ) ( NASDAQ : LBTYK ) for our European operations, and the LiLAC Group ( NASDAQ : LILA ) and ( NASDAQ : LILAK ) ( OTC PINK : LILAB ), which consists of our operations in Latin America and the Caribbean. The Liberty Global Group operates in 11 European countries under the consumer brands Virgin Media, Unitymedia, Telenet and UPC. The Liberty Global Group also owns 50% of VodafoneZiggo, a Dutch joint venture, which has 4 million customers, 10 million fixed-line subscribers and 5 million mobile subscribers. The LiLAC Group operates in over 20 countries in Latin America and the Caribbean under the consumer brands VTR, Flow, Liberty, Más Móvil and BTC. In addition, the LiLAC Group operates a sub-sea fiber network throughout the region in over 30 markets. For more information, please visit www.libertyglobal.com . Image Available: http://www2.marketwire.com/mw/frame_mw?attachid=3125292 \|\| How Sears Ruined Its CEO Eddie Lampert’s Hedge Fund: As if in sympathy with his dying retail giant, Sears CEO Eddie Lampert’s hedge fund has sunk perfectly in line with Sears’ own decline . While shares of fell nearly 55% in 2016 amid bankruptcy rumors , the assets in Lampert’s 29-year-old fund ESL Investments have dwindled a matching 55% in the same period. Sears, making up about a third of Lampert’s portfolio, was a major contributor to the the hedge fund’s shrink, but investors have also abandoned the fund recently, taking their money with them. By the end of 2016, Lampert’s fund held a mere $653 million--a sizable decline of 94% from the $16.5 billion it once managed at Sears’ peak in 2007 , according to securities filings. Lampert’s turnaround plan for Sears has so far not only failed to bring the struggling retailer back to health, but it has also been a personal disaster for the investor’s net worth. Lampert’s fund held $3.8 billion when he became CEO at the beginning of 2013, but those assets have dropped 84% since then, a Fortune analysis found--even greater than Sears’ 74% drop in the same period . Wilson’s stake in Sears, along with Sears Canada, once worth billions of dollars, is now valued at just $285 million. At least part of the reason Lampert’s losses outpaced those of Sears’ was due to the hedge funder significantly paring down stakes in his two other major holdings, and Gap . Neither or those stocks have done well since 2013, with Gap down 39% by the end of 2016, and AutoNation down 3.3%. The flagging performance has also prompted Lampert’s shareholders to pull their money out of the fund, according to the New York Times . This was not how Lampert, who has sworn his resolve to save Sears, envisioned how his investment would play out . Lampert had become a majority Sears stakeholder in 2004, and later helped engineer the company’s merger with Kmart in early 2005. By the time the merger had been completed, Lampert’s stake in Sears was worth $8.6 billion, amounting to a massive 72% of his portfolio. And that wasn’t the end of its glory days. By early 2007, those same shares had grown 29% in value to $11.1 billion--or 67% of his portfolio at the time. Story continues But when the financial recession hit Sears , as it did with other retailers, Lampert’s own fund suffered heavily. And now, the investor and CEO appears to be losing faith in the idea of ever making his money back: Sears acknowledged last week that “substantial doubt exists” in its “ability to continue as a going concern.” See original article on Fortune.com More from Fortune.com VC Fred Wilson Thinks Coinbase Is the Goldman Sachs of Bitcoin Nasdaq Stocks Are Quietly Setting New Highs Every Single Day Amazon and the Race to Be the First $1 Trillion Company Principal Financial Group Just Accused This Hedge Fund of Hiding Investments with Bernie Madoff Robots Are Replacing Humans at All These Wall Street Firms \|\| How Sears Ruined Its CEO Eddie Lampert’s Hedge Fund: As if in sympathy with his dying retail giant, Sears CEO Eddie Lampert’s hedge fund has sunk perfectlyin line with Sears’ own decline. While shares of fell nearly 55% in 2016amid bankruptcy rumors, the assets in Lampert’s 29-year-old fund ESL Investments have dwindled a matching 55% in the same period. Sears, making up about a third of Lampert’s portfolio, was a major contributor to the the hedge fund’s shrink, but investors have also abandoned the fund recently, taking their money with them. By the end of 2016, Lampert’s fund held a mere $653 million--a sizable decline of 94% from the $16.5 billion it once managed atSears’ peak in 2007, according to securities filings. Lampert’sturnaround planfor Sears has so far not only failed to bring the struggling retailer back to health, but it has also been a personal disaster for the investor’s net worth. Lampert’s fund held $3.8 billion when he became CEO at the beginning of 2013, but those assets have dropped 84% since then, aFortuneanalysis found--even greater than Sears’74% drop in the same period. Wilson’s stake in Sears, along with Sears Canada, once worth billions of dollars, is now valued at just $285 million. At least part of the reason Lampert’s losses outpaced those of Sears’ was due to the hedge funder significantly paring down stakes in his two other major holdings, and Gap . Neither or those stocks have done well since 2013, with Gap down 39% by the end of 2016, and AutoNation down 3.3%. The flagging performance has also prompted Lampert’s shareholders to pull their money out of the fund, according to theNew York Times. This was not how Lampert, who hassworn his resolve to saveSears,envisioned how his investment would play out. Lampert had become a majority Sears stakeholder in 2004, and later helped engineer the company’s merger with Kmart in early 2005. By the time the merger had been completed, Lampert’s stake in Sears was worth $8.6 billion, amounting to a massive 72% of his portfolio. And that wasn’t the end of its glory days. By early 2007, those same shares had grown 29% in value to $11.1 billion--or 67% of his portfolio at the time. Butwhen the financial recession hit Sears, as it did with other retailers, Lampert’s own fund suffered heavily. And now, the investor and CEO appears to be losing faith in the idea of ever making his money back: Searsacknowledged last week that “substantial doubt exists”in its “ability to continue as a going concern.” See original article on Fortune.com More from Fortune.com • VC Fred Wilson Thinks Coinbase Is the Goldman Sachs of Bitcoin • Nasdaq Stocks Are Quietly Setting New Highs Every Single Day • Amazon and the Race to Be the First $1 Trillion Company • Principal Financial Group Just Accused This Hedge Fund of Hiding Investments with Bernie Madoff • Robots Are Replacing Humans at All These Wall Street Firms \|\| Altcoin Crowdsale ICO Begins New Offering Under Symbol "ALT": VANCOUVER, BC / ACCESSWIRE / March 29, 2017 / First Bitcoin Capital Corp.(OTC PINK: BITCF) launched its first Initial Coin Offering (ICO) today. The Company foresees a major shift coming that will overnight witness the emergences of altcoins surpassing Bitcoin in overall market cap. Investopedia.com defines "Altcoin" as a combination of two words: "alt" and "coin"; alt being short for alternative and coin signifying currency. Thus, together they imply a category of cryptocurrency that is alternative to the digital currency, Bitcoin. In order to capitalize on the pending shift, the Company has wasted no time in launching its first ICO choosing a name to capture the maximum exposure to this emerging trend calling it "ALTcoin" bearing the symbol " ALT ." In conjunction with this new ICO (also sometimes known as ITO for Initial Token Offering), the company is preparing to launch the AltCoinMarketCap.com - website for worldwide tracking capitalization of various alternative cryptocurrencies, as a social platform for cryptocurrency enthusiasts and as a new, potential income source. Crypto Coin speculators may already begin acquiring ALT using Tether (USDT) as the medium of exchange. Early participants will automatically receive approximately 1.25 ALT for each USDT sent to the company's Omni wallet, Bitcoin address: 1FwADyEvdvaLNxjN1v3q6tNJCgHEBuABrS In order to insure receipt of the ALT upon transferring USDT to the company's wallet address, speculators will need to use their own personal Omni Wallet address and not an exchange provided wallet as the exchanges may not be prepared to credit those ALT to the senders account. After 6 confirmations, the ALTcoin ( ALT ) will arrive in recipient's personal Omni Wallet. This process is fully automated and requires no manual processing by the issuer of ALT . To participate, kindly see further details at: https://www.omniwallet.org/assets/details/149 The early bird bonus originally at 25%, will be gradually reduced to 20% the second week, 15% the third week, 10% the fourth week and 5% the final, fifth week, when the ICO closes. A bonus of 10% of all coins sold will belong to The Company while the 90% will be held by the public. It is rare to find an ICO that doesn't amass a greater percentage to the issuers and organizers. Story continues Management expects to witness ALT listed on several exchanges in the immediate future, including its subsidiary, COINQX.com so that those unable to send USDT to acquire ALT may also participate and so that secondary trading may ensue. Cryptopia is the first Bitcoin exchange outside OMNIDEX to list ALT . ALT utilizes the same Omni protocol as our recently launched Bitcoin Unlimited Futures, which is now trading on 3 exchanges under the symbols XBU on OmniDEX and CoinQX and as XB on C-Cex. We chose USDT as a medium of exchange for speculators to acquire ALT since it is the most actively traded Omni asset with tens of millions of coins in daily volume, trading in 11 currencies on Poloniex cryptocurrency exchange, as well as many other exchanges such as CoinQX.com and OMNIDEX exchanges. About the company: First Bitcoin Capital is engaged in developing digital currencies, proprietary Blockchain technologies, and the digital currency exchange- www.CoinQX.com . We see this step as a tremendous opportunity to create further shareholder value by leveraging management's experience in developing and managing complex Blockchain technologies, developing new types of digital assets. Being the first publicly-traded cryptocurrency and blockchain-centered company (with shares both traded in the US OTC Markets as [BITCF] and as [BIT] in crypto exchanges) we want to provide our shareholders with diversified exposure to digital cryptocurrencies and blockchain technologies. At this time the Company owns and operates the following digital assets. www.CoinQX.com cryptocurrency exchange, registered with FINCEN. www.iCoiNEWS.com real time cryptocurrency and bitcoin news site. www.BITminer.cc providing mining pool management services. www.2016coin.org online daily election coverage and home page for $PRES, $HILL, $GARY& $BURN -commemorative presidential election coins. www.bitcannpay.com Open Loop merchant services for dispensaries. List of Omni protocol coins issued on the Bitcoin Blockchain owned by the Company: http://omnichest.info/lookupadd.aspx?address=1FwADyEvdvaLNxjN1v3q6tNJCgHEBuABrS Forward-Looking Statements Certain statements contained in this press release may constitute "forward-looking statements." Forward-looking statements provide current expectations of future events based on certain assumptions and include any statement that does not directly relate to any historical or current fact. Actual results may differ materially from those indicated by such forward-looking statements as a result of various important factors as may be disclosed in company's filings. In addition to these factors, actual future performance, outcomes, and results may differ materially because of more general factors including (without limitation) general industry and market conditions and growth rates, economic conditions, and governmental and public policy changes. The forward-looking statements included in this press release represent the Company's views as of the date of this press release and these views could change. However, while the Company may elect to update these forward-looking statements at some point in the future, the Company specifically disclaims any obligation to do so. These forward-looking statements should not be relied upon as representing the Company's views as of any date subsequent to the date of the press release .Such forward-looking statements are risks that are detailed in the Company's filings, which are on file at www.OTCMarkets.com . Contact us via: [email protected] or visit http://www.bitcoincapitalcorp.com SOURCE: First Bitcoin Capital Corp. \|\| Altcoin Crowdsale ICO Begins New Offering Under Symbol "ALT": VANCOUVER, BC / ACCESSWIRE / March 29, 2017 /First Bitcoin Capital Corp.(OTC PINK: BITCF) launched its first Initial Coin Offering (ICO) today. The Company foresees a major shift coming that will overnight witness the emergences of altcoins surpassing Bitcoin in overall market cap. Investopedia.com defines "Altcoin" as a combination of two words: "alt" and "coin"; alt being short for alternative and coin signifying currency. Thus, together they imply a category of cryptocurrency that is alternative to the digital currency, Bitcoin. In order to capitalize on the pending shift, the Company has wasted no time in launching its first ICO choosing a name to capture the maximum exposure to this emerging trend calling it "ALTcoin" bearing the symbol "ALT." In conjunction with this new ICO (also sometimes known as ITO for Initial Token Offering), the company is preparing to launch theAltCoinMarketCap.com- website for worldwide tracking capitalization of various alternative cryptocurrencies, as a social platform for cryptocurrency enthusiasts and as a new, potential income source. Crypto Coin speculators may already begin acquiringALTusingTether (USDT)as the medium of exchange. Early participants will automatically receive approximately 1.25ALTfor eachUSDTsent to the company's Omni wallet, Bitcoin address: 1FwADyEvdvaLNxjN1v3q6tNJCgHEBuABrS In order to insure receipt of theALTupon transferringUSDTto the company's wallet address, speculators will need to use their own personal Omni Wallet address and not an exchange provided wallet as the exchanges may not be prepared to credit thoseALTto the senders account. After 6 confirmations, the ALTcoin (ALT) will arrive in recipient's personal Omni Wallet. This process is fully automated and requires no manual processing by the issuer ofALT. To participate, kindly see further details at:https://www.omniwallet.org/assets/details/149 The early bird bonus originally at 25%, will be gradually reduced to 20% the second week, 15% the third week, 10% the fourth week and 5% the final, fifth week, when the ICO closes. A bonus of 10% of all coins sold will belong to The Company while the 90% will be held by the public. It is rare to find an ICO that doesn't amass a greater percentage to the issuers and organizers. Management expects to witnessALTlisted on several exchanges in the immediate future, including its subsidiary, COINQX.com so that those unable to send USDT to acquire ALT may also participate and so that secondary trading may ensue. Cryptopia is the first Bitcoin exchange outside OMNIDEX to listALT. ALTutilizes the same Omni protocol as our recently launched Bitcoin Unlimited Futures, which is now trading on 3 exchanges under the symbols XBU on OmniDEX and CoinQX and as XB on C-Cex. We chose USDT as a medium of exchange for speculators to acquire ALT since it is the most actively traded Omni asset with tens of millions of coins in daily volume, trading in 11 currencies on Poloniex cryptocurrency exchange, as well as many other exchanges such as CoinQX.com and OMNIDEX exchanges. About the company: First Bitcoin Capital is engaged in developing digital currencies, proprietary Blockchain technologies, and the digital currency exchange-www.CoinQX.com. We see this step as a tremendous opportunity to create further shareholder value by leveraging management's experience in developing and managing complex Blockchain technologies, developing new types of digital assets. Being the first publicly-traded cryptocurrency and blockchain-centered company (with shares both traded in the US OTC Markets as [BITCF] and as [BIT] in crypto exchanges) we want to provide our shareholders with diversified exposure to digital cryptocurrencies and blockchain technologies. At this time the Company owns and operates the following digital assets. www.CoinQX.comcryptocurrency exchange, registered with FINCEN.www.iCoiNEWS.comreal time cryptocurrency and bitcoin news site.www.BITminer.ccproviding mining pool management services.www.2016coin.orgonline daily election coverage and home page for $PRES, $HILL, $GARY& $BURN -commemorative presidential election coins.www.bitcannpay.comOpen Loop merchant services for dispensaries. List of Omni protocol coins issued on the Bitcoin Blockchain owned by the Company:http://omnichest.info/lookupadd.aspx?address=1FwADyEvdvaLNxjN1v3q6tNJCgHEBuABrS Forward-Looking Statements Certain statements contained in this press release may constitute "forward-looking statements." Forward-looking statements provide current expectations of future events based on certain assumptions and include any statement that does not directly relate to any historical or current fact. Actual results may differ materially from those indicated by such forward-looking statements as a result of various important factors as may be disclosed in company's filings. In addition to these factors, actual future performance, outcomes, and results may differ materially because of more general factors including (without limitation) general industry and market conditions and growth rates, economic conditions, and governmental and public policy changes. The forward-looking statements included in this press release represent the Company's views as of the date of this press release and these views could change. However, while the Company may elect to update these forward-looking statements at some point in the future, the Company specifically disclaims any obligation to do so. These forward-looking statements should not be relied upon as representing the Company's views as of any date subsequent to the date of the press release .Such forward-looking statements are risks that are detailed in the Company's filings, which are on file atwww.OTCMarkets.com. Contact us via: [email protected] visithttp://www.bitcoincapitalcorp.com SOURCE:First Bitcoin Capital Corp. \|\| SEC denies a second application to list bitcoin product: By Trevor Hunnicutt NEW YORK (Reuters) - The U.S. Securities and Exchange Commission on Tuesday denied for the second time this month a request to bring to market a first-of-its-kind product tracking bitcoin, the digital currency. The SEC announced in a filing its decision denying Intercontinental Exchange Inc's NYSE Arca exchange the ability to list and trade the SolidX Bitcoin Trust, an exchange-traded product (ETP) that would trade like a stock and track the digital asset's price. Previously, the regulatory agency said it had concerns with a similar proposal by investors Cameron Winklevoss and Tyler Winklevoss. "The Commission believes that the significant markets for bitcoin are unregulated," the SEC said in its filing, echoing language from its decision earlier this month on the application by CBOE Holdings Inc's Bats exchange to list The Bitcoin ETF proposed by the Winklevoss brothers. On Friday, Bats asked the SEC to review its decision not to allow that fund to trade. "We are reviewing the SEC's order and evaluating our next steps," said Daniel H. Gallancy, chief executive officer of SolidX Partners Inc, a U.S. technology company that provides blockchain services. NYSE did not immediately respond to a request for comment. Bitcoin had scaled to a record of more than $1,300 this month, higher than the price of an ounce of gold, as investors speculated that an ETF holding the digital currency could woo more people into buying the asset. But after denial of the Winklevoss-proposed ETF, the digital currency's price plunged as much as 18 percent. It has rebounded partially since then and was at $1,041 on Tuesday, roughly unchanged from the previous day. Bitcoin is a virtual currency that can be used to move money around the world quickly and with relative anonymity, without the need for a central authority, such as a bank or government. Yet bitcoin presents a new set of risks to investors given its limited adoption, a number of massive cybersecurity breaches affecting bitcoin owners and the lack of consistent treatment of the assets by governments. There is one remaining bitcoin ETP proposal awaiting a verdict from the SEC. Grayscale Investments LLC's Bitcoin Investment Trust, backed by early bitcoin advocate Barry Silbert and his Digital Currency Group, filed an application last year. (Reporting by Trevor Hunnicutt; Additional reporting by Gertrude Chavez-Dreyfuss; Editing by David Gregorio and Cynthia Osterman) \|\| SEC denies a second application to list bitcoin product: By Trevor Hunnicutt NEW YORK (Reuters) - The U.S. Securities and Exchange Commission on Tuesday denied for the second time this month a request to bring to market a first-of-its-kind product tracking bitcoin, the digital currency. The SEC announced in a filing its decision denying Intercontinental Exchange Inc's NYSE Arca exchange the ability to list and trade the SolidX Bitcoin Trust, an exchange-traded product (ETP) that would trade like a stock and track the digital asset's price. Previously, the regulatory agency said it had concerns with a similar proposal by investors Cameron Winklevoss and Tyler Winklevoss. "The Commission believes that the significant markets for bitcoin are unregulated," the SEC said in its filing, echoing language from its decision earlier this month on the application by CBOE Holdings Inc's Bats exchange to list The Bitcoin ETF proposed by the Winklevoss brothers. On Friday, Bats asked the SEC to review its decision not to allow that fund to trade. "We are reviewing the SEC's order and evaluating our next steps," said Daniel H. Gallancy, chief executive officer of SolidX Partners Inc, a U.S. technology company that provides blockchain services. NYSE did not immediately respond to a request for comment. Bitcoin had scaled to a record of more than $1,300 this month, higher than the price of an ounce of gold, as investors speculated that an ETF holding the digital currency could woo more people into buying the asset. But after denial of the Winklevoss-proposed ETF, the digital currency's price plunged as much as 18 percent. It has rebounded partially since then and was at $1,041 on Tuesday, roughly unchanged from the previous day. Bitcoin is a virtual currency that can be used to move money around the world quickly and with relative anonymity, without the need for a central authority, such as a bank or government. Yet bitcoin presents a new set of risks to investors given its limited adoption, a number of massive cybersecurity breaches affecting bitcoin owners and the lack of consistent treatment of the assets by governments. There is one remaining bitcoin ETP proposal awaiting a verdict from the SEC. Grayscale Investments LLC's Bitcoin Investment Trust, backed by early bitcoin advocate Barry Silbert and his Digital Currency Group, filed an application last year. (Reporting by Trevor Hunnicutt; Additional reporting by Gertrude Chavez-Dreyfuss; Editing by David Gregorio and Cynthia Osterman) \|\| Bitcoin dives after the SEC shoots down plans for another bitcoin ETF: (Attendants pose with a bitcoin sign during the opening of Hong Kong's first bitcoin retail store.Reuters/Bobby Yip) Bitcoin has slid into negative territory after the US Securities and Exchange Commission rejected the plans for the SolidX Bitcoin ETF.The cryptocurrency is down 0.7% at $1,033 a coin. It was as high as $1,066 earlier on Tuesday. The regulator cited the fact that bitcoin is traded on unregulated markets, which means the SEC wouldn't be able to prevent fraud or market manipulation.In its ruling theSEC said: "As discussed further below, the Commission is disapproving this proposed rule change because it does not find the proposal to be consistent with Section 6(b)(5) of the Exchange Act, which requires, among other things, that the rules of a national securities exchange be designed to prevent fraudulent and manipulative acts and practices and to protect investors and the public interest. The Commission believes that, in order to meet this standard, an exchange that lists and trades shares of commodity-trust exchange-traded products (“ETPs”) must, in addition to other applicable requirements, satisfy two requirements that are dispositive in this matter. First, the exchange must have surveillance-sharing agreements with significant markets for trading the underlying commodity or derivatives on that commodity. And second, those markets must be regulated. Tuesday's announcement follows a similar ruling that was reached on March 10, when the SEC said it had rejected the Winklevoss twins' bitcoin ETF. 2017 has been a volatile year for bitcoin. The cryptocurrency gained 20% in the first week of the year, but soon crashed 35% after reports surfaced that China was going to crack down on trading. First,China's biggest exchanges started charging a flat fee of 0.2% per transaction, then they announced they wereblocking customer withdrawals. But bitcoin continued to climb higher, putting in a peak of $1,327 a coin shortly before the SEC rejected the Winklevoss ETF. Since then, however, bitcoin has tumbled more than 20% following reports developers were threatening a "hard fork" that would split the currency in two. Bitcoin has been the top-performing currency every year since 2010, aside from 2014. A third SEC ruling on a bitcoin ETF, by Grayscale Investments, is also expected to be rejected; although the timing of a final decision is not yet known. (Investing.com) NOW WATCH:7 mega-billionaires who made a fortune last year More From Business Insider • Bitcoin tanks below $1,000 • Bitcoin spikes above $1,000 • Bitcoin tumbles below $1,000 \|\| Bitcoin dives after the SEC shoots down plans for another bitcoin ETF: (Attendants pose with a bitcoin sign during the opening of Hong Kong's first bitcoin retail store.Reuters/Bobby Yip) Bitcoin has slid into negative territory after the US Securities and Exchange Commission rejected the plans for the SolidX Bitcoin ETF.The cryptocurrency is down 0.7% at $1,033 a coin. It was as high as $1,066 earlier on Tuesday. The regulator cited the fact that bitcoin is traded on unregulated markets, which means the SEC wouldn't be able to prevent fraud or market manipulation.In its ruling theSEC said: "As discussed further below, the Commission is disapproving this proposed rule change because it does not find the proposal to be consistent with Section 6(b)(5) of the Exchange Act, which requires, among other things, that the rules of a national securities exchange be designed to prevent fraudulent and manipulative acts and practices and to protect investors and the public interest. The Commission believes that, in order to meet this standard, an exchange that lists and trades shares of commodity-trust exchange-traded products (“ETPs”) must, in addition to other applicable requirements, satisfy two requirements that are dispositive in this matter. First, the exchange must have surveillance-sharing agreements with significant markets for trading the underlying commodity or derivatives on that commodity. And second, those markets must be regulated. Tuesday's announcement follows a similar ruling that was reached on March 10, when the SEC said it had rejected the Winklevoss twins' bitcoin ETF. 2017 has been a volatile year for bitcoin. The cryptocurrency gained 20% in the first week of the year, but soon crashed 35% after reports surfaced that China was going to crack down on trading. First,China's biggest exchanges started charging a flat fee of 0.2% per transaction, then they announced they wereblocking customer withdrawals. But bitcoin continued to climb higher, putting in a peak of $1,327 a coin shortly before the SEC rejected the Winklevoss ETF. Since then, however, bitcoin has tumbled more than 20% following reports developers were threatening a "hard fork" that would split the currency in two. Bitcoin has been the top-performing currency every year since 2010, aside from 2014. A third SEC ruling on a bitcoin ETF, by Grayscale Investments, is also expected to be rejected; although the timing of a final decision is not yet known. (Investing.com) NOW WATCH:7 mega-billionaires who made a fortune last year More From Business Insider • Bitcoin tanks below $1,000 • Bitcoin spikes above $1,000 • Bitcoin tumbles below $1,000 \|\| Bitcoin dives after the SEC shoots down plans for another bitcoin ETF: Bitcoin (Attendants pose with a bitcoin sign during the opening of Hong Kong's first bitcoin retail store.Reuters/Bobby Yip) Bitcoin has slid into negative territory after the US Securities and Exchange Commission rejected the plans for the SolidX Bitcoin ETF. The cryptocurrency is down 0.7% at $1,033 a coin. It was as high as $1,066 earlier on Tuesday. The regulator cited the fact that bitcoin is traded on unregulated markets, which means the SEC wouldn't be able to prevent fraud or market manipulation. In its ruling the SEC said : "As discussed further below, the Commission is disapproving this proposed rule change because it does not find the proposal to be consistent with Section 6(b)(5) of the Exchange Act, which requires, among other things, that the rules of a national securities exchange be designed to prevent fraudulent and manipulative acts and practices and to protect investors and the public interest. The Commission believes that, in order to meet this standard, an exchange that lists and trades shares of commodity-trust exchange-traded products (ETPs) must, in addition to other applicable requirements, satisfy two requirements that are dispositive in this matter. First, the exchange must have surveillance-sharing agreements with significant markets for trading the underlying commodity or derivatives on that commodity. And second, those markets must be regulated. Based on the record before it, the Commission believes that the significant markets for bitcoin are unregulated. Therefore, as the Exchange has not entered into, and would currently be unable to enter into, the type of surveillance-sharing agreement that has been in place with respect to all previously approved commodity-trust ETPsagreements that help address concerns about the potential for fraudulent or manipulative acts and practices in this marketthe Commission does not find the proposed rule change to be consistent with the Exchange Act." Tuesday's announcement follows a similar ruling that was reached on March 10, when the SEC said it had rejected the Winklevoss twins' bitcoin ETF. Story continues 2017 has been a volatile year for bitcoin. The cryptocurrency gained 20% in the first week of the year, but soon crashed 35% after reports surfaced that China was going to crack down on trading. First, China's biggest exchanges started charging a flat fee of 0.2% per transaction, then they announced they were blocking customer withdrawals . But bitcoin continued to climb higher, putting in a peak of $1,327 a coin shortly before the SEC rejected the Winklevoss ETF. Since then, however, bitcoin has tumbled more than 20% following reports developers were threatening a " hard fork " that would split the currency in two. Bitcoin has been the top-performing currency every year since 2010, aside from 2014. A third SEC ruling on a bitcoin ETF, by Grayscale Investments, is also expected to be rejected; although the timing of a final decision is not yet known. Bitcoin (Investing.com) NOW WATCH: 7 mega-billionaires who made a fortune last year More From Business Insider Bitcoin tanks below $1,000 Bitcoin spikes above $1,000 Bitcoin tumbles below $1,000 \|\| Flow Mobile Top Up Made Easy with Scotiabank: MIAMI, FL--(Marketwired - Mar 28, 2017) - Adding credit to your mobile phone has never been easier if you are a Flow and Scotiabank customer. Both companies have partnered to provide Mobile Top Up -- a solution that allows customers to add credit to their phones directly from their Scotiabank online and mobile banking accounts, or from any Scotiabank ATM across the Caribbean. Having access to Mobile Top Up means Flow customers no longer have to wait in long lines or rely on a phone card to stay connected. Now, Flow customers who use Scotiabank for their banking needs, can top up their phones virtually anytime and anywhere in the region. "We're happy to have teamed up with Scotiabank to integrate their banking with our mobile phone services," said Garry Sinclair, Caribbean President, C&W Communications, operators of the retail brand Flow. "We're always looking for new and convenient ways to enhance our customers' experience and make their lives easier. With this fast and simple Mobile Top Up service we're doing just that -- providing customers with an innovative option to always stay connected, hassle free," Sinclair added. Mobile Top Up is available in all of Flow Caribbean markets with mobile services. For more information please visit www.discoverflow.co . About Scotiabank Scotiabank has been part of the Caribbean and Central America region since 1889 when the Bank opened its first office in Kingston, Jamaica to support the trade of rum sugar and fish. This was the first time a Canadian bank had opened a branch outside the U.K. or the U.S. Scotiabank had a branch in Kingston before the Bank opened a branch in Toronto, Canada, where the Bank's Executive Offices are now located. Some 120 plus years later, Scotiabank is the leading bank in the Caribbean and Central America, with operations in 25 countries, including affiliates. Scotiabank is the only Canadian bank with operations in four five of the seven Central American countries, namely Costa Rica, Belize, Panama and El Salvador. Story continues About C&W Communications C&W is a full service communications and entertainment provider and delivers market-leading video, broadband, telephony and mobile services to consumers in 18 countries. Through its business division, C&W provides data center hosting, domestic and international managed network services, and customized IT service solutions, utilizing cloud technology to serve business and government customers. C&W also operates a state-of-the-art submarine fiber network -- the most extensive in the region. Learn more at www.cwc.com , or follow C&W on LinkedIn , Facebook or Twitter . About Liberty Global Liberty Global is the world's largest international TV and broadband company, with operations in more than 30 countries across Europe, Latin America and the Caribbean. We invest in the infrastructure that empowers our customers to make the most of the digital revolution. Our scale and commitment to innovation enable us to develop market-leading products delivered through next generation networks that connect our 25 million customers who subscribe to over 50 million television, broadband internet and telephony services. We also serve over 10 million mobile subscribers and offer WiFi service across 5 million access points. Liberty Global's businesses are comprised of two stocks: the Liberty Global Group ( NASDAQ : LBTYA ) ( NASDAQ : LBTYB ) and ( NASDAQ : LBTYK ) for our European operations, and the LiLAC Group ( NASDAQ : LILA ) and ( NASDAQ : LILAK ) ( OTC PINK : LILAB ), which consists of our operations in Latin America and the Caribbean. The Liberty Global Group operates in 11 European countries under the consumer brands Virgin Media, Unitymedia, Telenet and UPC. The Liberty Global Group also owns 50% of VodafoneZiggo, a Dutch joint venture, which has 4 million customers, 10 million fixed-line subscribers and 5 million mobile subscribers. The LiLAC Group operates in over 20 countries in Latin America and the Caribbean under the consumer brands VTR, Flow, Liberty, Más Móvil and BTC. In addition, the LiLAC Group operates a sub-sea fiber network throughout the region in over 30 markets. For more information, please visit www.libertyglobal.com . \|\| Flow Mobile Top Up Made Easy with Scotiabank: MIAMI, FL--(Marketwired - Mar 28, 2017) - Adding credit to your mobile phone has never been easier if you are aFlowandScotiabankcustomer. Both companies have partnered to provideMobile Top Up-- a solution that allows customers to add credit to their phones directly from their Scotiabank online andmobile bankingaccounts, or from any Scotiabank ATM across the Caribbean. Having access toMobile Top Upmeans Flow customers no longer have to wait in long lines or rely on a phone card to stay connected. Now, Flow customers who use Scotiabank for their banking needs, can top up their phones virtually anytime and anywhere in the region. "We're happy to have teamed up with Scotiabank to integrate their banking with our mobile phone services," said Garry Sinclair, Caribbean President, C&W Communications, operators of the retail brand Flow. "We're always looking for new and convenient ways to enhance our customers' experience and make their lives easier. With this fast and simpleMobile Top Upservice we're doing just that -- providing customers with an innovative option to always stay connected, hassle free," Sinclair added. Mobile Top Upis available in all of Flow Caribbean markets with mobile services. For more information please visitwww.discoverflow.co. About ScotiabankScotiabank has been part of the Caribbean and Central America region since 1889 when the Bank opened its first office in Kingston, Jamaica to support the trade of rum sugar and fish. This was the first time a Canadian bank had opened a branch outside the U.K. or the U.S. Scotiabank had a branch in Kingston before the Bank opened a branch in Toronto, Canada, where the Bank's Executive Offices are now located. Some 120 plus years later, Scotiabank is the leading bank in the Caribbean and Central America, with operations in 25 countries, including affiliates. Scotiabank is the only Canadian bank with operations in four five of the seven Central American countries, namely Costa Rica, Belize, Panama and El Salvador. About C&W CommunicationsC&W is a full service communications and entertainment provider and delivers market-leading video, broadband, telephony and mobile services to consumers in 18 countries. Through its business division, C&W provides data center hosting, domestic and international managed network services, and customized IT service solutions, utilizing cloud technology to serve business and government customers. C&W also operates a state-of-the-art submarine fiber network -- the most extensive in the region. Learn more atwww.cwc.com, or follow C&W onLinkedIn,FacebookorTwitter. About Liberty Global Liberty Global is the world's largest international TV and broadband company, with operations in more than 30 countries across Europe, Latin America and the Caribbean. We invest in the infrastructure that empowers our customers to make the most of the digital revolution. Our scale and commitment to innovation enable us to develop market-leading products delivered through next generation networks that connect our 25 million customers who subscribe to over 50 million television, broadband internet and telephony services. We also serve over 10 million mobile subscribers and offer WiFi service across 5 million access points. Liberty Global's businesses are comprised of two stocks: the Liberty Global Group (NASDAQ:LBTYA) (NASDAQ:LBTYB) and (NASDAQ:LBTYK) for our European operations, and the LiLAC Group (NASDAQ:LILA) and (NASDAQ:LILAK) (OTC PINK:LILAB), which consists of our operations in Latin America and the Caribbean. The Liberty Global Group operates in 11 European countries under the consumer brands Virgin Media, Unitymedia, Telenet and UPC. The Liberty Global Group also owns 50% of VodafoneZiggo, a Dutch joint venture, which has 4 million customers, 10 million fixed-line subscribers and 5 million mobile subscribers. The LiLAC Group operates in over 20 countries in Latin America and the Caribbean under the consumer brands VTR, Flow, Liberty, Más Móvil and BTC. In addition, the LiLAC Group operates a sub-sea fiber network throughout the region in over 30 markets. For more information, please visitwww.libertyglobal.com. \|\| Bitcoin is taking off: Bitcoin is up 2.1% at $1,062 a coin, as of 8:02 a.m. ET, extending its winning streak to a second day. The two-day advance has tacked on 11% as traders ready for the upcoming US Securities and Exchange Commision ruling on another b itcoin ETF, on or before March 30. The SolidX Bitcoin ETF is expected to suffer the same fate as the Wiklevoss twins' bitcoin ETF , which was rejected by the SEC on March 10. At the time, the SEC said it was rejecting the Winkleovss ETF because it did not "find the proposal to be consistent with Section 6(b)(5) of the Exchange Act, which requires, among other things, that the rules of a national securities exchange be designed to prevent fraudulent and manipulative acts and practices and to protect investors and the public interest." Bitcoin has had a volaile 2017. It gained 20% in the first week of the year before crashing 35% on news that China was going to crack down on trading. The cryptocurrency then rallied another 75%, putting in an all-time high of $1,327.19 the morning of the SEC's ruling on the Winklevoss ETF before tumbling to a low of $939 on Monday amid fears developers were threatening to set up a " hard fork " that would split bitcoin in two. Bitcoin has been the top-performing currency every year since 2010, except for 2014. It gained 120% last year. Bitcoin (Investing.com) NOW WATCH: 7 mega-billionaires who made a fortune last year More From Business Insider Bitcoin spikes above $1,000 Bitcoin tanks below $1,000 Bitcoin is roaring back \|\| Bitcoin is taking off: Bitcoinis up 2.1% at $1,062 a coin, as of 8:02 a.m. ET, extending its winning streak to a second day. The two-day advance has tacked on 11% as traders ready for the upcoming US Securities and Exchange Commision ruling on another bitcoin ETF, on or before March 30. TheSolidX Bitcoin ETF is expected to suffer the same fate as theWiklevoss twins' bitcoin ETF, which was rejected by the SEC on March 10. At the time, the SEC said it was rejecting the Winkleovss ETF becauseit did not "find the proposal to be consistent with Section 6(b)(5) of the Exchange Act, which requires, among other things, that the rules of a national securities exchange be designed to prevent fraudulent and manipulative acts and practices and to protect investors and the public interest." Bitcoin has had a volaile 2017. It gained 20% in the first week of the year before crashing 35% on news that China was going to crack down on trading. The cryptocurrency then rallied another 75%, putting in an all-time high of $1,327.19 the morning of the SEC's ruling on the Winklevoss ETF before tumbling to a low of $939 on Monday amid fears developers were threatening to set up a "hard fork" that would split bitcoin in two. Bitcoin has been the top-performing currency every year since 2010, except for 2014. It gained 120% last year. (Investing.com) NOW WATCH:7 mega-billionaires who made a fortune last year More From Business Insider • Bitcoin spikes above $1,000 • Bitcoin tanks below $1,000 • Bitcoin is roaring back [Social Media Buzz] One Bitcoin now worth $1150.00@bitstamp. High $1150.00. Low $1076.00. Market Cap $18.689 Billion #bitcoin \|\| One Bitcoin now worth $1135.00@bitstamp. High $1136.67. Low $1071.12. Market Cap $18.445 Billion #bitcoin \|\| Buy Bitcoin anywhere in the world - $50.00 #Items4Sale List ur biz at http://blacktradelines.com pic.twitter.com/1FHg97K2dN \|\| ETH Price: 1 ETH = $43.00 USD -4.39% ⇩ last 24h. 1 ETH = 0.037256 BTC -4.21% ⇩ last 24h. \|\| #FelizInicioDeSemana Precio del #bitcoin #3Abr 8.00 No tienes ...	1133.25, 1124.78, 1182.68, 1176.90, 1175.95, 1187.87, 1187.13, 1205.01, 1200.37, 1169.28
Given the historical Bitcoin prices from the last 90 days, predict the next 10 daily closing prices. The historical prices are: 790.53, 792.71, 800.88, 834.28, 864.54, 921.98, 898.82, 896.18, 907.61, 933.20, 975.92, 973.50, 961.24, 963.74, 998.33, 1021.75, 1043.84, 1154.73, 1013.38, 902.20, 908.59, 911.20, 902.83, 907.68, 777.76, 804.83, 823.98, 818.41, 821.80, 831.53, 907.94, 886.62, 899.07, 895.03, 921.79, 924.67, 921.01, 892.69, 901.54, 917.59, 919.75, 921.59, 919.50, 920.38, 970.40, 989.02, 1011.80, 1029.91, 1042.90, 1027.34, 1038.15, 1061.35, 1063.07, 994.38, 988.67, 1004.45, 999.18, 990.64, 1004.55, 1007.48, 1027.44, 1046.21, 1054.42, 1047.87, 1079.98, 1115.30, 1117.44, 1166.72, 1173.68, 1143.84, 1165.20, 1179.97, 1179.97, 1222.50, 1251.01, 1274.99, 1255.15, 1267.12, 1272.83, 1223.54, 1150.00, 1188.49, 1116.72, 1175.83, 1221.38, 1231.92, 1240.00, 1249.61, 1187.81, 1100.23.	[Bitcoin Technical Analysis for 2017-03-17] Volume: 706598976, RSI (14-day): 42.49, 50-day EMA: 1110.69, 200-day EMA: 880.33 [Wider Market Context] Gold Price: 1229.80, Gold RSI: 56.04 Oil Price: 48.78, Oil RSI: 33.93 [Recent News (last 7 days)] Bitcoin could be on the edge of a cliff: (A Bitcoin sign is seen in a window in TorontoThomson Reuters) Let me be clear: I do not trade bitcoin, but I do write about it often.Before going into journalism, I spent my days trading. I learned a lot about technical analysis during that time, and right now, technical analysis spells huge trouble ahead for the cryptocurrency. Let's recap what has been going on in the bitcoin market so far this year. Bitcoin rallied 120% in 2016 and has been thetop-performing currencyin each of the last two years. It opened 2017 by gaining 20% in the first week before crashing 35% on news thatChina was going to consider clamping downon trading. Since then, bitcoin has ripped higher by more than 50% even in the face of several pieces of bad news. First, China's biggest bitcoin exchanges said they were going to start charging a 0.2% fee on all transactions (previously there was no fee). This was significant asnearly 100% of bitcoin's trading volumetakes places on China's exchanges. Then, China's biggest exchanges said they were going toblock withdrawalsfrom trading accounts. But bitcoin kept climbing higher.It put in a record high of $1,327 a coin on March 10 as traders piled in ahead of the US Securities and Exchange Commission's ruling on theWinklevoss twins' bitcoin exchange-traded fund(ETF). The SEC denied the ETF. There are two more SEC rulings on the way, the next being on March 30. Neither one is expected to pass.That ruling sent bitcoin crashing 16% lower, but again it was ultimately resilient in the face of bad news. Prices snapped back up in overnight trade and ended the following session above the previous day's opening price. All of those ups and downs, though, have left the cryptocurrency in a precarious position. Take a look at a bitcoin chart: (Investing.com) The chart pattern appears to be putting in a classicdouble toppattern. In very simple terms, that's describing those two peaks you see highlighted above. What the double top does, is give us a clue to where traders will go from buying to selling bitcoin. In order for this pattern to be activated, bitcoin would have to close below the neckline, which appears near the $1,100 level. And while that hasn't happened yet, there is another troubling sign that's popping up on the charts. (bitcoinity.org) Bitcoin volume exploded into the end of 2016, but has vanished in 2017. This means that as the price was going up, the drop in volume didn't support the price trend. In other words, there wasn't any conviction behind the move. It appears that the transaction fees implemented by China's biggest exchanges have caused participation to dry up. So where is bitcoin headed? If the cryptocurrency falls below the neckline drawn on the first chart, the charts suggest a trip to the $900 area is likely. That's $300 a coin less than it's current level, or a 25% drop. NOW WATCH:7 mega-billionaires who made a fortune last year More From Business Insider • Bitcoin crashes after the SEC rejects the Winklevoss twins' ETF • Bitcoin super spikes to an all-time high • Bitcoin makes a big comeback \|\| Bitcoin could be on the edge of a cliff: FILE PHOTO - A Bitcoin sign is seen in a window in Toronto, May 8, 2014. REUTERS/Mark Blinch/File Photo (A Bitcoin sign is seen in a window in TorontoThomson Reuters) Let me be clear: I do not trade bitcoin, but I do write about it often. Before going into journalism, I spent my days trading. I learned a lot about technical analysis during that time, and right now, technical analysis spells huge trouble ahead for the cryptocurrency. Let's recap what has been going on in the bitcoin market so far this year. Bitcoin rallied 120% in 2016 and has been the top-performing currency in each of the last two years. It opened 2017 by gaining 20% in the first week before crashing 35% on news that China was going to consider clamping down on trading. Since then, bitcoin has ripped higher by more than 50% even in the face of several pieces of bad news. First, China's biggest bitcoin exchanges said they were going to start charging a 0.2% fee on all transactions (previously there was no fee). This was significant as nearly 100% of bitcoin's trading volume takes places on China's exchanges. Then, China's biggest exchanges said they were going to block withdrawals from trading accounts. But bitcoin kept climbing higher. It put in a record high of $1,327 a coin on March 10 as traders piled in ahead of the US Securities and Exchange Commission's ruling on the Winklevoss twins' bitcoin exchange-traded fund (ETF). The SEC denied the ETF. There are two more SEC rulings on the way, the next being on March 30. Neither one is expected to pass. That ruling sent bitcoin crashing 16% lower, but again it was ultimately resilient in the face of bad news. Prices snapped back up in overnight trade and ended the following session above the previous day's opening price. All of those ups and downs, though, have left the cryptocurrency in a precarious position. Take a look at a bitcoin chart: Bitcoin (Investing.com) The chart pattern appears to be putting in a classic double top pattern. In very simple terms, that's describing those two peaks you see highlighted above. Story continues What the double top does, is give us a clue to where traders will go from buying to selling bitcoin. In order for this pattern to be activated, bitcoin would have to close below the neckline, which appears near the $1,100 level. And while that hasn't happened yet, there is another troubling sign that's popping up on the charts. Bitcoin volume (bitcoinity.org) Bitcoin volume exploded into the end of 2016, but has vanished in 2017. This means that as the price was going up, the drop in volume didn't support the price trend. In other words, there wasn't any conviction behind the move. It appears that the transaction fees implemented by China's biggest exchanges have caused participation to dry up. So where is bitcoin headed? If the cryptocurrency falls below the neckline drawn on the first chart, the charts suggest a trip to the $900 area is likely. That's $300 a coin less than it's current level, or a 25% drop. NOW WATCH: 7 mega-billionaires who made a fortune last year More From Business Insider Bitcoin crashes after the SEC rejects the Winklevoss twins' ETF Bitcoin super spikes to an all-time high Bitcoin makes a big comeback \|\| Bitcoin could be on the edge of a cliff: (A Bitcoin sign is seen in a window in TorontoThomson Reuters) Let me be clear: I do not trade bitcoin, but I do write about it often.Before going into journalism, I spent my days trading. I learned a lot about technical analysis during that time, and right now, technical analysis spells huge trouble ahead for the cryptocurrency. Let's recap what has been going on in the bitcoin market so far this year. Bitcoin rallied 120% in 2016 and has been thetop-performing currencyin each of the last two years. It opened 2017 by gaining 20% in the first week before crashing 35% on news thatChina was going to consider clamping downon trading. Since then, bitcoin has ripped higher by more than 50% even in the face of several pieces of bad news. First, China's biggest bitcoin exchanges said they were going to start charging a 0.2% fee on all transactions (previously there was no fee). This was significant asnearly 100% of bitcoin's trading volumetakes places on China's exchanges. Then, China's biggest exchanges said they were going toblock withdrawalsfrom trading accounts. But bitcoin kept climbing higher.It put in a record high of $1,327 a coin on March 10 as traders piled in ahead of the US Securities and Exchange Commission's ruling on theWinklevoss twins' bitcoin exchange-traded fund(ETF). The SEC denied the ETF. There are two more SEC rulings on the way, the next being on March 30. Neither one is expected to pass.That ruling sent bitcoin crashing 16% lower, but again it was ultimately resilient in the face of bad news. Prices snapped back up in overnight trade and ended the following session above the previous day's opening price. All of those ups and downs, though, have left the cryptocurrency in a precarious position. Take a look at a bitcoin chart: (Investing.com) The chart pattern appears to be putting in a classicdouble toppattern. In very simple terms, that's describing those two peaks you see highlighted above. What the double top does, is give us a clue to where traders will go from buying to selling bitcoin. In order for this pattern to be activated, bitcoin would have to close below the neckline, which appears near the $1,100 level. And while that hasn't happened yet, there is another troubling sign that's popping up on the charts. (bitcoinity.org) Bitcoin volume exploded into the end of 2016, but has vanished in 2017. This means that as the price was going up, the drop in volume didn't support the price trend. In other words, there wasn't any conviction behind the move. It appears that the transaction fees implemented by China's biggest exchanges have caused participation to dry up. So where is bitcoin headed? If the cryptocurrency falls below the neckline drawn on the first chart, the charts suggest a trip to the $900 area is likely. That's $300 a coin less than it's current level, or a 25% drop. NOW WATCH:7 mega-billionaires who made a fortune last year More From Business Insider • Bitcoin crashes after the SEC rejects the Winklevoss twins' ETF • Bitcoin super spikes to an all-time high • Bitcoin makes a big comeback \|\| Did You Hear About MIT's New Civil Disobedience Award?: Did you hear about the MIT Media Lab's new proposition? If not, it's simple: win $250,000 by breaking the rules or shaking up the status quo. Yes, that's right. The MIT Media Lab's "Disobedience Award" will be presented to "a person or group engaged in what we believe is an extraordinary example of disobedience for the benefit of society." MIT explained that the winner needs to abide to non-violence measures and isn't limited to specific disciplines, such as scientific research, civil rights, freedom of speech, human rights and the freedom to innovate. Don't Count On A NYSE-Listed Company On Winning Needless to say, Western corporations follow the law and there are few, if any, companies that are "self-sacrificial" for the common good. Companies may take a stance, such as Apple Inc. (NASDAQ: AAPL ) refusing to comply with an FBI order to assist the government in unlocking an iPhone used by one of the terrorists involved in the San Bernardino attack. Bitcoin? It would be reasonable to assume a Bitcoin company could be considered for the award. The anonymous digital currency offers individuals across the world the ability to move money without government surveillance. This is especially true in heavily restricted countries like China where individuals aren't permitted to move $50,000 outside of the country. Are there any companies you think could or should be up for the award? See Also: Tim Cook: FBI Is Asking Apple For Something Too Dangerous To Create Brave New Coin Is The Bloomberg Of Blockchain See more from Benzinga Attention Detroit Entrepreneurs: Google Demo Day Is Right Around The Corner McDonald's Mobile Ordering Is Now A Reality Goldman Highlights Positive iPhone Data Out of China, Taiwan © 2017 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. \|\| Did You Hear About MIT's New Civil Disobedience Award?: Did you hear about theMIT Media Lab'snew proposition? If not, it's simple: win $250,000 by breaking the rules or shaking up the status quo. Yes, that's right. The MIT Media Lab's "Disobedience Award" will be presented to "a person or group engaged in what we believe is an extraordinary example of disobedience for the benefit of society." MIT explained that the winner needs to abide to non-violence measures and isn't limited to specific disciplines, such as scientific research, civil rights, freedom of speech, human rights and the freedom to innovate. Don't Count On A NYSE-Listed Company On Winning Needless to say, Western corporations follow the law and there are few, if any, companies that are "self-sacrificial" for the common good. Companies may take a stance, such asApple Inc.(NASDAQ:AAPL) refusing to comply with an FBI order to assist the government in unlocking an iPhone used by one of the terrorists involved in theSan Bernardino attack. Bitcoin? It would be reasonable to assume a Bitcoin company could be considered for the award. The anonymous digital currency offers individuals across the world the ability to move money without government surveillance. This is especially true in heavily restricted countries like China where individuals aren't permitted to move $50,000 outside of the country. Are there any companies you think could or should be up for the award? See Also: Tim Cook: FBI Is Asking Apple For Something Too Dangerous To Create Brave New Coin Is The Bloomberg Of Blockchain See more from Benzinga • Attention Detroit Entrepreneurs: Google Demo Day Is Right Around The Corner • McDonald's Mobile Ordering Is Now A Reality • Goldman Highlights Positive iPhone Data Out of China, Taiwan © 2017 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. \|\| No Bitcoin ETF Says SEC: What's Next?: Bitcoin may be hogging limelight in the investing world, but its ETF form was not that attractive to the SEC. Winklevoss Bitcoin Trust has filed for one to make bets on this soaring digital currency easy. Investors were hoping for a YES from the SEC, but the opposite happened. The SEC declined the proposal apprehending chances of fraud (read: Will Bitcoin ETF See the Light of Day in March?). What is Bitcoin? Bitcoins are ‘mined’ by using a greater amount of computer processing power. However, since there is a fixed amount of bitcoins, as the limit is reached, it becomes hard to ‘mine’ for the coins. The best part of this system is that it is beyond the reach of central banks. SEC Version The committee did not “find the proposal to be consistent with Section 6(b)(5) of the Exchange Act, which requires, among other things, that the rules of a national securities exchange be designed to prevent fraudulent and manipulative acts and practices and to protect investors and the public interest.” The news hit the cryptocurrency hard on the March 10 judgement day when its price fell about 15% to $1,050. Bitcoin pricings had been firing on all cylinders since the beginning of 2017, which drove it past the $1,100 mark on February 21, 2017 – the highest in more than three years. Notably, its value beat the $900 mark in late December for the first time since February 2014. In mid-2015, the currency was at around $200 (read: Explaining Bitcoin and Crypto Currency). The tussle between the U.S. Securities Exchange Commission and Winklevoss over the launch has been going on for about three years. In fact, the issuer has restructured the proposals for the Bitcoin ETF multiple times. What Next? While the first ETF did not gain approval, other issuers filed for their products on this currency. SolidX Partners sought SEC approval last July for its bitcoin ETF, SolidX Bitcoin Trust, which also would be listed on the NYSE. In January 2017, Grayscale Investments filed to list its own Bitcoin Investment Trust on the NYSE. The SEC’s rigidity could also make the situation tough for these two products. However, after an initial dip, the bitcoin bounced back all over again. It has gained about 13% since the SEC’s decision. This could be because of the fact “bitcoin isn’t regulated by any government and has been used by consumers worldwide to shelter assets from inflation or political upheavals in their home countries.” Bloomberg noted that bitcoin topped all key foreign-exchange trades, stock indexes, currencies and commodity contracts last year, which can be a proof of its sturdiness. As per CNBC, “bitcoin is a very volatile asset” but doesn’t have a strong correlation with other asset classes. Bourgeoning trading volumes in China, bitcoin’s largest market, has favored the price. As Chinese investors wanted to shield their portfolio from a depreciating yuan, they bet big on bitcoin, driving the currency to double in 2016. Moreover, trading volumes in China have been solid with the government taking proactive measures against illegal money transfer. As per an article published on CNBC, Bitcoin is emerging as a safe haven asset like gold. WithSPDR Gold SharesGLD coming under pressure due to rising rate prospects in the U.S. and a higher greenback, one can possibly find safety in seemingly safe or alternative assets like bitcoin. Other digital currencies like Ethereum, Dash and Monero have also been gaining considerable attention these days. Since SEC’s bitcoin ETF decision on March 10, 2017, these three currencies have gained about 60%, 59% and 40%, respectively. Bottom Line The prospect may be strengthening for bitcoin, but the SEC needs more proof of the safety in bitcoin trading. Only then can we expect a bitcoin ETF. As of now, investors have to be happy with traditional safe-haven assets and gold and silver bullion ETFs like GLD andiShares Silver TrustSLV (read: 3 Safe-Haven ETFs to Watch on Market Correction). Want key ETF info delivered straight to your inbox? Zacks’ free Fund Newsletter will brief you on top news and analysis, as well as top-performing ETFs, each week. Get it free >> Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days.Click to get this free reportSPDR-GOLD TRUST (GLD): ETF Research ReportsISHARS-SLVR TR (SLV): ETF Research ReportsTo read this article on Zacks.com click here.Zacks Investment ResearchWant the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report \|\| No Bitcoin ETF Says SEC: What's Next?: Bitcoin may be hogging limelight in the investing world, but its ETF form was not that attractive to the SEC. Winklevoss Bitcoin Trust has filed for one to make bets on this soaring digital currency easy. Investors were hoping for a YES from the SEC, but the opposite happened. The SEC declined the proposal apprehending chances of fraud (read: Will Bitcoin ETF See the Light of Day in March?). What is Bitcoin? Bitcoins are ‘mined’ by using a greater amount of computer processing power. However, since there is a fixed amount of bitcoins, as the limit is reached, it becomes hard to ‘mine’ for the coins. The best part of this system is that it is beyond the reach of central banks. SEC Version The committee did not “find the proposal to be consistent with Section 6(b)(5) of the Exchange Act, which requires, among other things, that the rules of a national securities exchange be designed to prevent fraudulent and manipulative acts and practices and to protect investors and the public interest.” The news hit the cryptocurrency hard on the March 10 judgement day when its price fell about 15% to $1,050. Bitcoin pricings had been firing on all cylinders since the beginning of 2017, which drove it past the $1,100 mark on February 21, 2017 – the highest in more than three years. Notably, its value beat the $900 mark in late December for the first time since February 2014. In mid-2015, the currency was at around $200 (read: Explaining Bitcoin and Crypto Currency). The tussle between the U.S. Securities Exchange Commission and Winklevoss over the launch has been going on for about three years. In fact, the issuer has restructured the proposals for the Bitcoin ETF multiple times. What Next? While the first ETF did not gain approval, other issuers filed for their products on this currency. SolidX Partners sought SEC approval last July for its bitcoin ETF, SolidX Bitcoin Trust, which also would be listed on the NYSE. In January 2017, Grayscale Investments filed to list its own Bitcoin Investment Trust on the NYSE. The SEC’s rigidity could also make the situation tough for these two products. However, after an initial dip, the bitcoin bounced back all over again. It has gained about 13% since the SEC’s decision. This could be because of the fact “bitcoin isn’t regulated by any government and has been used by consumers worldwide to shelter assets from inflation or political upheavals in their home countries.” Bloomberg noted that bitcoin topped all key foreign-exchange trades, stock indexes, currencies and commodity contracts last year, which can be a proof of its sturdiness. As per CNBC, “bitcoin is a very volatile asset” but doesn’t have a strong correlation with other asset classes. Bourgeoning trading volumes in China, bitcoin’s largest market, has favored the price. As Chinese investors wanted to shield their portfolio from a depreciating yuan, they bet big on bitcoin, driving the currency to double in 2016. Moreover, trading volumes in China have been solid with the government taking proactive measures against illegal money transfer. As per an article published on CNBC, Bitcoin is emerging as a safe haven asset like gold. WithSPDR Gold SharesGLD coming under pressure due to rising rate prospects in the U.S. and a higher greenback, one can possibly find safety in seemingly safe or alternative assets like bitcoin. Other digital currencies like Ethereum, Dash and Monero have also been gaining considerable attention these days. Since SEC’s bitcoin ETF decision on March 10, 2017, these three currencies have gained about 60%, 59% and 40%, respectively. Bottom Line The prospect may be strengthening for bitcoin, but the SEC needs more proof of the safety in bitcoin trading. Only then can we expect a bitcoin ETF. As of now, investors have to be happy with traditional safe-haven assets and gold and silver bullion ETFs like GLD andiShares Silver TrustSLV (read: 3 Safe-Haven ETFs to Watch on Market Correction). Want key ETF info delivered straight to your inbox? Zacks’ free Fund Newsletter will brief you on top news and analysis, as well as top-performing ETFs, each week. Get it free >> Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days.Click to get this free reportSPDR-GOLD TRUST (GLD): ETF Research ReportsISHARS-SLVR TR (SLV): ETF Research ReportsTo read this article on Zacks.com click here.Zacks Investment ResearchWant the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report \|\| No Bitcoin ETF Says SEC: What's Next?: Bitcoin may be hogging limelight in the investing world, but its ETF form was not that attractive to the SEC. Winklevoss Bitcoin Trust has filed for one to make bets on this soaring digital currency easy. Investors were hoping for a YES from the SEC, but the opposite happened. The SEC declined the proposal apprehending chances of fraud (read: Will Bitcoin ETF See the Light of Day in March?). What is Bitcoin? Bitcoins are ‘mined’ by using a greater amount of computer processing power. However, since there is a fixed amount of bitcoins, as the limit is reached, it becomes hard to ‘mine’ for the coins. The best part of this system is that it is beyond the reach of central banks. SEC Version The committee did not “find the proposal to be consistent with Section 6(b)(5) of the Exchange Act, which requires, among other things, that the rules of a national securities exchange be designed to prevent fraudulent and manipulative acts and practices and to protect investors and the public interest.” The news hit the cryptocurrency hard on the March 10 judgement day when its price fell about 15% to $1,050. Bitcoin pricings had been firing on all cylinders since the beginning of 2017, which drove it past the $1,100 mark on February 21, 2017 – the highest in more than three years. Notably, its value beat the $900 mark in late December for the first time since February 2014. In mid-2015, the currency was at around $200 (read: Explaining Bitcoin and Crypto Currency). The tussle between the U.S. Securities Exchange Commission and Winklevoss over the launch has been going on for about three years. In fact, the issuer has restructured the proposals for the Bitcoin ETF multiple times. What Next? While the first ETF did not gain approval, other issuers filed for their products on this currency. SolidX Partners sought SEC approval last July for its bitcoin ETF, SolidX Bitcoin Trust, which also would be listed on the NYSE. In January 2017, Grayscale Investments filed to list its own Bitcoin Investment Trust on the NYSE. The SEC’s rigidity could also make the situation tough for these two products. Story continues However, after an initial dip, the bitcoin bounced back all over again. It has gained about 13% since the SEC’s decision. This could be because of the fact “bitcoin isn’t regulated by any government and has been used by consumers worldwide to shelter assets from inflation or political upheavals in their home countries.” Bloomberg noted that bitcoin topped all key foreign-exchange trades, stock indexes, currencies and commodity contracts last year, which can be a proof of its sturdiness. As per CNBC, “bitcoin is a very volatile asset” but doesn’t have a strong correlation with other asset classes. Bourgeoning trading volumes in China, bitcoin’s largest market, has favored the price. As Chinese investors wanted to shield their portfolio from a depreciating yuan, they bet big on bitcoin, driving the currency to double in 2016. Moreover, trading volumes in China have been solid with the government taking proactive measures against illegal money transfer. As per an article published on CNBC, Bitcoin is emerging as a safe haven asset like gold. With SPDR Gold Shares GLD coming under pressure due to rising rate prospects in the U.S. and a higher greenback, one can possibly find safety in seemingly safe or alternative assets like bitcoin. Other digital currencies like Ethereum, Dash and Monero have also been gaining considerable attention these days. Since SEC’s bitcoin ETF decision on March 10, 2017, these three currencies have gained about 60%, 59% and 40%, respectively. Bottom Line The prospect may be strengthening for bitcoin, but the SEC needs more proof of the safety in bitcoin trading. Only then can we expect a bitcoin ETF. As of now, investors have to be happy with traditional safe-haven assets and gold and silver bullion ETFs like GLD and iShares Silver Trust SLV (read: 3 Safe-Haven ETFs to Watch on Market Correction). Want key ETF info delivered straight to your inbox? Zacks’ free Fund Newsletter will brief you on top news and analysis, as well as top-performing ETFs, each week. Get it free >> Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report SPDR-GOLD TRUST (GLD): ETF Research Reports ISHARS-SLVR TR (SLV): ETF Research Reports To read this article on Zacks.com click here. Zacks Investment Research Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report \|\| Venezuela is cracking down on 'bitcoin fever': Opposition supporters take part in a rally against President Nicolas Maduro's government in Caracas, Venezuela, October 26, 2016. REUTERS/Carlos Garcia Rawlins (Opposition supporters take part in a rally against President Nicolas Maduro's government in Caracas, Venezuela, October 26, 2016.Thomson Reuters) Venezuela's economy has seen its currency, the bolivar, plummet as inflation has spiraled into the triple digits , causing people there to struggle to meet their daily needs. In response, some Venezuelans have chosen to cross international borders to stock up on needed supplies, as others turn to a black market where goods are often sold in US dollars. Another alternative that has gained traction is bitcoin, a cryptocurrency whose value wobbles frequently and which can be used for clandestine purchases, both licit and illicit. Bitcoin has been embraced in Venezuela as the economy has faltered over the last few years, providing both a way of buying essential goods and resisting the unpopular government of President Nicolas Maduro. The number of users has surged from 450 in 2014 to 85,000 in 2016, according to Venezuelan bitcoin trading exchange Surbitcoin. "Bitcoin is a way of rebelling against the system," Caracas-based software developer John Villar told Reuters in October 2014, not long after he started using the cryptocurrency for online purchases. Bitcoin had dropped 70% between November 2013 and October 2014, but Venezuela's own currency had dropped 60% against the US dollar on the black market in the country over roughly the same period. "Even though bitcoin is volatile, it's still safer than the national currency," Kevin Charles, then a recent economics graduate, told Reuters . (Many Venezuelans still converted their bitcoin immediately into dollars, however.) "In Venezuela, we have a gold fever: a bitcoin fever!" a bitcoin miner someone who uses a complex computer setup to create bitcoins using elaborate algorithms said to Reuters in October 2014. Venezuela bitcoin cryptocurrency currency bolivar money Surbitcoin (The website of bitcoin trading exchange SurBitcoin on a computer in Caracas, October 5, 2014.REUTERS/Stringer) Now the Venezuelan government, long caught up in battles with the political opposition and in bloody struggles with rampant crime , has turned its attention to bitcoin users and producers. Story continues A recent post on a related subreddit by someone claiming to be a Venezuelan bitcoin miner, cited by The Washington Post , said the government was jailing miners and accusing them of terrorism, money laundering, and computer crimes. Two brothers in Caracas, who spoke to The Post anonymously, said police had raided their home in November, demanding $1,000 bribes for each of their more than 90 mining terminals. They paid up, they said. Despite its other turmoil, Venezuela, which has no laws against bitcoin, had been amenable to bitcoin miners, for whom electricity can be their biggest expense. Electricity is heavily subsidized in the Caribbean nation, where the longstanding socialist government has provided many services and goods to the population at low cost. (Those subsidies have also inspired profligate use by residents.) Caracas Venezuela blackout (Buildings left unlit during a partial blackout in Caracas, January 13, 2010.Reuters) The intense power demands of mining terminals may be the undoing of some miners, however. State power authorities can reportedly detect outsize power usage , and some miners who have been arrested were charged with electricity theft. The chief of the federal police agency said recently that bitcoin miners were imperiling the electrical service in a town south of Caracas, which is not implausible, considering that the country's electrical service, plagued by underinvestment and graft, has often been overwhelmed in times of high demand . (Thieves have also started pilfering electrical and communications gear for valuable components.) Despite enthusiasm for bitcoin in Venezuela, its spread may be hindered by the seemingly wide net of the authorities' crackdown and by the one-third of Venezuelans who don't have bank accounts. NOW WATCH: Here's how to use one of the many apps to buy and trade bitcoin More From Business Insider In the world's biggest cocaine producer, cultivation reportedly surged again in 2016 Italy and Mexico tracked down a fugitive mafia leader using his Facebook posts Ecuador's presidential election could have big consequences for the fate of Wikileaks Julian Assange \|\| Venezuela is cracking down on 'bitcoin fever': (Opposition supporters take part in a rally against President Nicolas Maduro's government in Caracas, Venezuela, October 26, 2016.Thomson Reuters) Venezuela's economy has seen its currency, the bolivar, plummet asinflation has spiraled into the triple digits, causingpeople there to struggleto meet their daily needs. In response, some Venezuelans have chosen tocross international bordersto stock up on needed supplies, as others turn to a black market where goods are often sold in US dollars. Another alternative that has gained traction is bitcoin, a cryptocurrency whose value wobbles frequently and which can be used for clandestine purchases, both licit and illicit. Bitcoin has been embraced in Venezuela as the economy has faltered over the last few years, providing both a way of buying essential goods and resisting theunpopular governmentof President Nicolas Maduro. The number of users has surged from 450 in 2014 to 85,000 in 2016,accordingto Venezuelan bitcoin trading exchange Surbitcoin. "Bitcoin is a way of rebelling against the system," Caracas-based software developer John Villartold Reutersin October 2014, not long after he started using the cryptocurrency for online purchases. Bitcoin had dropped 70% between November 2013 and October 2014, but Venezuela's own currencyhad dropped 60%against the US dollar on the black market in the country over roughly the same period. "Even though bitcoin is volatile, it's still safer than the national currency," Kevin Charles, then a recent economics graduate,told Reuters. (Many Venezuelans still converted their bitcoin immediately into dollars, however.) "In Venezuela, we have a gold fever: a bitcoin fever!" a bitcoin miner — someone who uses a complex computer setup to create bitcoins using elaborate algorithms —said to Reutersin October 2014. (The website of bitcoin trading exchange SurBitcoin on a computer in Caracas, October 5, 2014.REUTERS/Stringer) Now the Venezuelan government, longcaught up in battleswith the political opposition and inbloody struggles with rampant crime, has turned its attention to bitcoin users and producers. A recent post on a related subreddit by someone claiming to be a Venezuelan bitcoin miner,cited by The Washington Post, said the government was jailing miners and accusing them of terrorism, money laundering, and computer crimes. Two brothers in Caracas,who spoke to The Postanonymously, said police had raided their home in November, demanding $1,000 bribes for each of their more than 90 mining terminals. They paid up, they said. Despite its other turmoil, Venezuela, whichhas no lawsagainst bitcoin, had been amenable to bitcoin miners, for whom electricity can be their biggest expense. Electricity isheavily subsidizedin the Caribbean nation, where the longstanding socialist government has provided many services and goods to the population at low cost. (Those subsidies have also inspired profligate use by residents.) (Buildings left unlit during a partial blackout in Caracas, January 13, 2010.Reuters) The intense power demands of mining terminals may be the undoing of some miners, however. State power authorities can reportedlydetect outsize power usage, and some miners who have been arrested were charged with electricity theft. The chief of the federal police agencysaid recentlythat bitcoin miners were imperiling the electrical service in a town south of Caracas, which is not implausible, considering that the country's electrical service, plagued by underinvestment and graft, has often beenoverwhelmed in times of high demand. (Thieves havealso started pilferingelectrical and communications gear for valuable components.) Despite enthusiasm for bitcoin in Venezuela, its spread may be hindered by the seemingly wide net of the authorities' crackdown and by the one-third of Venezuelans who don't have bank accounts. NOW WATCH:Here's how to use one of the many apps to buy and trade bitcoin More From Business Insider • In the world's biggest cocaine producer, cultivation reportedly surged again in 2016 • Italy and Mexico tracked down a fugitive mafia leader using his Facebook posts • Ecuador's presidential election could have big consequences for the fate of Wikileaks’ Julian Assange \|\| Digital Currencies Went Crazy in the Wake of the SEC’s Bitcoin Ruling: Something strange is happening in the world of digital currency. When the Securities and Exchange Commission passed aharsh judgmentlast week on bitcoin, many expected the entire asset class to crumble. Instead, the opposite has happened. The SEC ruling, if you missed it, came down on Friday afternoon. The long-awaited decision, citing the possibility of fraud and market manipulation, rejected a proposal to create an exchange traded fund (ETF) for bitcoin, and threw cold water onhopes institutional investors would use the ETFto stock up on the currency. The market quicklypunished bitcoin, driving its price down to around $1,050--a more than 15% drop from its highs earlier that day. But when it came to other digital currencies, investors didn’t bail on them. They started gobbling them up. These other currencies such as Ethereum and Ripple (there are dozens) aren’t as famous as bitcoin but have been around for a while, and some people treat them as a proxy asset for bitcoin. Since the SEC decision, they’ve all shot up, some of them dramatically. Here is a chart that shows how the prices have changed. The data is compiled from each currency’s lowest price on March 10 (the day of the ruling) through Tuesday morning: As you can see,Ethereumhas made spectacular gains. The currency, which is tied to a popular new form of blockchain technology, is up around 60%. Dash, a less well-known bitcoin rival, is up about 59%. Get Data Sheet, Fortune's technology newsletter The other surprise in chart is how nicely bitcoin has recovered from the SEC’s punch last Friday. Here’s a closer look, courtesy ofCoindesk, of how its price has moved since Friday: As you can see, bitcoin is nudging back towards its near all-time high of $1,300, which came amid a frenzy of speculation that a positive SEC ruling would send the price soaring. For now, there is no clear explanation of why bitcoin recovered so quickly, or why the so-called “alt-currencies” like Dash initially rose when bitcoin fell. Some commentators have suggested the recent boom comes from new digital currency converts who learned about the assets as a result of the publicity surrounding the ETF decision. Others say the recent prices simply reflect the fact that digital currencies are a far more sturdy asset than they were two years ago, and their values can no longer be derailed by a bit of negative news. It’s also worth noting the SEC jolt from last week has brought about a change in the makeup of the overall market cap for digital currency. Note below how bitcoin’s share of the pie has dropped about 10% since the news: The upshot of this is that while bitcoin still clearly dominates the digital currency world, other assets--particularly Ethereum--may now be emerging as more than also-rans. See original article on Fortune.com More from Fortune.com • Snow Storm Stella Hit the Stock Market Harder Than Wall Street Expected • Here's Why Disney's Shares Are a Buy • Why Ackman's Exit May Not Be the End of Valeant's Stock Plunge • Verizon Wanted a Much Bigger Discount on Its Yahoo Bid • Here's Why National Napping Day Is Actually a Serious Matter \|\| Digital Currencies Went Crazy in the Wake of the SEC’s Bitcoin Ruling: Something strange is happening in the world of digital currency. When the Securities and Exchange Commission passed aharsh judgmentlast week on bitcoin, many expected the entire asset class to crumble. Instead, the opposite has happened. The SEC ruling, if you missed it, came down on Friday afternoon. The long-awaited decision, citing the possibility of fraud and market manipulation, rejected a proposal to create an exchange traded fund (ETF) for bitcoin, and threw cold water onhopes institutional investors would use the ETFto stock up on the currency. The market quicklypunished bitcoin, driving its price down to around $1,050--a more than 15% drop from its highs earlier that day. But when it came to other digital currencies, investors didn’t bail on them. They started gobbling them up. These other currencies such as Ethereum and Ripple (there are dozens) aren’t as famous as bitcoin but have been around for a while, and some people treat them as a proxy asset for bitcoin. Since the SEC decision, they’ve all shot up, some of them dramatically. Here is a chart that shows how the prices have changed. The data is compiled from each currency’s lowest price on March 10 (the day of the ruling) through Tuesday morning: As you can see,Ethereumhas made spectacular gains. The currency, which is tied to a popular new form of blockchain technology, is up around 60%. Dash, a less well-known bitcoin rival, is up about 59%. Get Data Sheet, Fortune's technology newsletter The other surprise in chart is how nicely bitcoin has recovered from the SEC’s punch last Friday. Here’s a closer look, courtesy ofCoindesk, of how its price has moved since Friday: As you can see, bitcoin is nudging back towards its near all-time high of $1,300, which came amid a frenzy of speculation that a positive SEC ruling would send the price soaring. For now, there is no clear explanation of why bitcoin recovered so quickly, or why the so-called “alt-currencies” like Dash initially rose when bitcoin fell. Some commentators have suggested the recent boom comes from new digital currency converts who learned about the assets as a result of the publicity surrounding the ETF decision. Others say the recent prices simply reflect the fact that digital currencies are a far more sturdy asset than they were two years ago, and their values can no longer be derailed by a bit of negative news. It’s also worth noting the SEC jolt from last week has brought about a change in the makeup of the overall market cap for digital currency. Note below how bitcoin’s share of the pie has dropped about 10% since the news: The upshot of this is that while bitcoin still clearly dominates the digital currency world, other assets--particularly Ethereum--may now be emerging as more than also-rans. See original article on Fortune.com More from Fortune.com • Snow Storm Stella Hit the Stock Market Harder Than Wall Street Expected • Here's Why Disney's Shares Are a Buy • Why Ackman's Exit May Not Be the End of Valeant's Stock Plunge • Verizon Wanted a Much Bigger Discount on Its Yahoo Bid • Here's Why National Napping Day Is Actually a Serious Matter \|\| Digital Currencies Went Crazy in the Wake of the SECs Bitcoin Ruling: Something strange is happening in the world of digital currency. When the Securities and Exchange Commission passed a harsh judgment last week on bitcoin, many expected the entire asset class to crumble. Instead, the opposite has happened. The SEC ruling, if you missed it, came down on Friday afternoon. The long-awaited decision, citing the possibility of fraud and market manipulation, rejected a proposal to create an exchange traded fund (ETF) for bitcoin, and threw cold water on hopes institutional investors would use the ETF to stock up on the currency. The market quickly punished bitcoin , driving its price down to around $1,050--a more than 15% drop from its highs earlier that day. But when it came to other digital currencies, investors didnt bail on them. They started gobbling them up. These other currencies such as Ethereum and Ripple (there are dozens) arent as famous as bitcoin but have been around for a while, and some people treat them as a proxy asset for bitcoin. Since the SEC decision, theyve all shot up, some of them dramatically. Here is a chart that shows how the prices have changed. The data is compiled from each currencys lowest price on March 10 (the day of the ruling) through Tuesday morning: As you can see, Ethereum has made spectacular gains. The currency, which is tied to a popular new form of blockchain technology, is up around 60%. Dash, a less well-known bitcoin rival, is up about 59%. Get Data Sheet , Fortune's technology newsletter The other surprise in chart is how nicely bitcoin has recovered from the SECs punch last Friday. Heres a closer look, courtesy of Coindesk , of how its price has moved since Friday: As you can see, bitcoin is nudging back towards its near all-time high of $1,300, which came amid a frenzy of speculation that a positive SEC ruling would send the price soaring. For now, there is no clear explanation of why bitcoin recovered so quickly, or why the so-called alt-currencies like Dash initially rose when bitcoin fell. Some commentators have suggested the recent boom comes from new digital currency converts who learned about the assets as a result of the publicity surrounding the ETF decision. Others say the recent prices simply reflect the fact that digital currencies are a far more sturdy asset than they were two years ago, and their values can no longer be derailed by a bit of negative news. Story continues Its also worth noting the SEC jolt from last week has brought about a change in the makeup of the overall market cap for digital currency. Note below how bitcoins share of the pie has dropped about 10% since the news: The upshot of this is that while bitcoin still clearly dominates the digital currency world, other assets--particularly Ethereum--may now be emerging as more than also-rans. See original article on Fortune.com More from Fortune.com Snow Storm Stella Hit the Stock Market Harder Than Wall Street Expected Here's Why Disney's Shares Are a Buy Why Ackman's Exit May Not Be the End of Valeant's Stock Plunge Verizon Wanted a Much Bigger Discount on Its Yahoo Bid Here's Why National Napping Day Is Actually a Serious Matter \|\| Zacks Investment Ideas feature highlights: Alamos Gold, Avino Silver, Fortuna Silver and Great Panther Silver: For Immediate Release Chicago, IL – March 14, 2017 – Today, Zacks Investment Ideas feature highlights Features: Alamos Gold ( NYSE: AGI – Free Report ), Avino Silver ( NYSEMKT: ASM – Free Report ), Fortuna Silver ( NYSE: FSM – Free Report ) and Great Panther Silver ( NYSEMKT: GPL – Free Report ) . Bitcoin Crash Creates Golden Opportunity I’ve been wrong about my timing of the silver and gold trade twice now. Once to my followers in Momentum Trader and another time in a much more public way, on Bloomberg the end of last year. My fundamental investment thesis surrounding gold hasn’t been wrong just my timing. And now, with gold prices bouncing off $1,200 and last week’s Bitcoin debacle I’m taking another stab at it. The Bitcoin debacle I’m referring to is last week’s decision by the SEC to reject the Winklevoss Twins’ proposal for a Bitcoin ETF. An ETF would have helped to legitimize the cryptocurrency and expose it to an entire new market of potential investors. The SEC’s decision was based on the unregulated nature of the Bitcoin market itself. With no way of overseeing the underlying investment, there was no way the SEC could give it a stamp of approval. You could argue that Bitcoin and gold are both alternatives to global fiat currencies. Neither has a central bank which governs them nor do they pay interest. They are both a store of value and can be held anonymously. Gold and silver have a tendency to track with each other so I’m including it when I look for stock ideas. Of course there’s one giant difference between the two. Gold has been a historic store of value for ages and something you can physically possess. Bitcoin is a digital currency that was created from nothing a few years ago. There is still a huge amount of skepticism surrounding Bitcoin and other cryptocurrencies. A rash of high profile hacks, essentially digital bank robberies, have loomed like a cloud over Bitcoin for years. This ETF would have been something like a Bitcoin coming out party. However, that was not the case and Bitcoin’s value plunged in Friday trading. Nearly simultaneous there was a huge rally in gold prices with the metal bouncing from just under $1,200 an ounce, an obvious psychological support level. Gold still does have an inverse relationship with yields. As interest rates rise you tend to see pressure on gold prices. We all know the Fed is going to hike rates next week. That is a huge negative on gold pricing. But if the metal can rally even in the face of that hike, then there could be overpowering fundamentals at play. Story continues One way to play a potential continuation of silver and gold’s move higher is to look at the silver and gold miners. A lot of these companies got lean and mean in order to survive the plummet in prices and have emerged with much stronger balance sheets. They have found ways to minimize their acquisition costs and streamline their mining process. I’ve put together a list here of gold stocks that are Zacks Rank #1 (Strong Buy) and Zacks Rank #2 (Buy) stocks for you to investigate a little further. Alamos Gold ( NYSE: AGI – Free Report ) Alamos Gold Inc., together with its subsidiaries, engages in the acquisition, exploration, development, and extraction of gold deposits in North America. It also explores for silver and precious metals. The company holds interests in the Young-Davidson mine, which includes contiguous mineral leases and claims totaling 11,000 acres located in Northern Ontario, Canada; the Mulatos mine located within the Salamandra Concessions in the Sierra Madre Occidental mountain range in the east-central portion of the State of Sonora, Mexico; and the El Chanate mine that comprises 22 mineral concessions covering 4,618 hectares situated in the State of Sonora, Mexico. It also holds interests in a portfolio of development stage projects in Mexico, Turkey, Canada, and the United States. Avino Silver ( NYSEMKT: ASM – Free Report ) Avino Silver & Gold Mines Ltd. engages in the production and sale of silver, gold, and copper bulk concentrates; and the exploration, evaluation, and acquisition of mineral properties. The company owns 42 mineral claims and leases 4 mineral claims in the state of Durango, Mexico. It also holds 100% interests in the Bralorne mine located in the Lillooet mining division, British Columbia, Canada; and the Eagle property located in the Mayo mining division of Yukon, Canada. Fortuna Silver ( NYSE: FSM – Free Report ) Fortuna Silver Mines Inc. engages in the exploration, extraction, and processing of mineral properties in Latin America. The company explores for silver, gold, lead, and zinc deposits. It holds interests in the Caylloma mine located in the Arequipa Department in southern Peru; and the San Jose mine located in the State of Oaxaca in southern Mexico. Great Panther Silver ( NYSEMKT: GPL – Free Report ) Great Panther Silver Limited, a silver mining and exploration company, engages in the mining of mineral properties in Mexico. It explores for silver, gold, lead, and zinc. The company holds interests in the Topia Mine and Guanajuato Mine Complex properties. It also holds mineral property interests in the exploration stage, such as the El Horcon and Santa Rosa projects located in Mexico, and Coricancha Mine Complex located in the Central Andes of Peru. Bottom Line I think Bitcoin blowing up here could benefit gold and silver over the short run. That being said, a great way to play the rise in these metals could be to look at the silver and gold miners. This is a short list to start researching the best one to buy. Looking for Ideas with Even Greater Upside? Today's investment ideas are short-term, directly based on our proven 1 to 3 month indicator. In addition, I invite you to consider our long-term opportunities. These rare trades look to start fast with strong Zacks Ranks, but carry through with double and triple-digit profit potential. Starting now, you can look inside our home run, value, and stocks under $10 portfolios, plus more. Click here for a peek at this private information>> Get the full Report on AGI - FREE Get the full Report on ASM - FREE Get the full Report on FSM - FREE Get the full Report on GPL - FREE Follow us on Twitter: https://twitter.com/ZacksResearch Join us on Facebook: https://www.facebook.com/ZacksInvestmentResearch Zacks Investment Research is under common control with affiliated entities (including a broker-dealer and an investment adviser), which may engage in transactions involving the foregoing securities for the clients of such affiliates. Media Contact Zacks Investment Research 800-767-3771 ext. 9339 [email protected] https://www.zacks.com/performance Past performance is no guarantee of future results. Inherent in any investment is the potential for loss. This material is being provided for informational purposes only and nothing herein constitutes investment, legal, accounting or tax advice, or a recommendation to buy, sell or hold a security. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. It should not be assumed that any investments in securities, companies, sectors or markets identified and described were or will be profitable. All information is current as of the date of herein and is subject to change without notice. Any views or opinions expressed may not reflect those of the firm as a whole. Zacks Investment Research does not engage in investment banking, market making or asset management activities of any securities. These returns are from hypothetical portfolios consisting of stocks with Zacks Rank = 1 that were rebalanced monthly with zero transaction costs. These are not the returns of actual portfolios of stocks. The S&P 500 is an unmanaged index. Visit https://www.zacks.com/performance for information about the performance numbers displayed in this press release. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Alamos Gold Inc. (AGI): Free Stock Analysis Report Avino Silver (ASM): Free Stock Analysis Report Fortuna Silver Mines Inc. (FSM): Free Stock Analysis Report Great Panther Silver Limited (GPL): Free Stock Analysis Report To read this article on Zacks.com click here. View comments \|\| Zacks Investment Ideas feature highlights: Alamos Gold, Avino Silver, Fortuna Silver and Great Panther Silver: For Immediate Release Chicago, IL – March 14, 2017 – Today, Zacks Investment Ideas feature highlights Features: Alamos Gold ( NYSE: AGI – Free Report ), Avino Silver ( NYSEMKT: ASM – Free Report ), Fortuna Silver ( NYSE: FSM – Free Report ) and Great Panther Silver ( NYSEMKT: GPL – Free Report ) . Bitcoin Crash Creates Golden Opportunity I’ve been wrong about my timing of the silver and gold trade twice now. Once to my followers in Momentum Trader and another time in a much more public way, on Bloomberg the end of last year. My fundamental investment thesis surrounding gold hasn’t been wrong just my timing. And now, with gold prices bouncing off $1,200 and last week’s Bitcoin debacle I’m taking another stab at it. The Bitcoin debacle I’m referring to is last week’s decision by the SEC to reject the Winklevoss Twins’ proposal for a Bitcoin ETF. An ETF would have helped to legitimize the cryptocurrency and expose it to an entire new market of potential investors. The SEC’s decision was based on the unregulated nature of the Bitcoin market itself. With no way of overseeing the underlying investment, there was no way the SEC could give it a stamp of approval. You could argue that Bitcoin and gold are both alternatives to global fiat currencies. Neither has a central bank which governs them nor do they pay interest. They are both a store of value and can be held anonymously. Gold and silver have a tendency to track with each other so I’m including it when I look for stock ideas. Of course there’s one giant difference between the two. Gold has been a historic store of value for ages and something you can physically possess. Bitcoin is a digital currency that was created from nothing a few years ago. There is still a huge amount of skepticism surrounding Bitcoin and other cryptocurrencies. A rash of high profile hacks, essentially digital bank robberies, have loomed like a cloud over Bitcoin for years. This ETF would have been something like a Bitcoin coming out party. However, that was not the case and Bitcoin’s value plunged in Friday trading. Nearly simultaneous there was a huge rally in gold prices with the metal bouncing from just under $1,200 an ounce, an obvious psychological support level. Gold still does have an inverse relationship with yields. As interest rates rise you tend to see pressure on gold prices. We all know the Fed is going to hike rates next week. That is a huge negative on gold pricing. But if the metal can rally even in the face of that hike, then there could be overpowering fundamentals at play. Story continues One way to play a potential continuation of silver and gold’s move higher is to look at the silver and gold miners. A lot of these companies got lean and mean in order to survive the plummet in prices and have emerged with much stronger balance sheets. They have found ways to minimize their acquisition costs and streamline their mining process. I’ve put together a list here of gold stocks that are Zacks Rank #1 (Strong Buy) and Zacks Rank #2 (Buy) stocks for you to investigate a little further. Alamos Gold ( NYSE: AGI – Free Report ) Alamos Gold Inc., together with its subsidiaries, engages in the acquisition, exploration, development, and extraction of gold deposits in North America. It also explores for silver and precious metals. The company holds interests in the Young-Davidson mine, which includes contiguous mineral leases and claims totaling 11,000 acres located in Northern Ontario, Canada; the Mulatos mine located within the Salamandra Concessions in the Sierra Madre Occidental mountain range in the east-central portion of the State of Sonora, Mexico; and the El Chanate mine that comprises 22 mineral concessions covering 4,618 hectares situated in the State of Sonora, Mexico. It also holds interests in a portfolio of development stage projects in Mexico, Turkey, Canada, and the United States. Avino Silver ( NYSEMKT: ASM – Free Report ) Avino Silver & Gold Mines Ltd. engages in the production and sale of silver, gold, and copper bulk concentrates; and the exploration, evaluation, and acquisition of mineral properties. The company owns 42 mineral claims and leases 4 mineral claims in the state of Durango, Mexico. It also holds 100% interests in the Bralorne mine located in the Lillooet mining division, British Columbia, Canada; and the Eagle property located in the Mayo mining division of Yukon, Canada. Fortuna Silver ( NYSE: FSM – Free Report ) Fortuna Silver Mines Inc. engages in the exploration, extraction, and processing of mineral properties in Latin America. The company explores for silver, gold, lead, and zinc deposits. It holds interests in the Caylloma mine located in the Arequipa Department in southern Peru; and the San Jose mine located in the State of Oaxaca in southern Mexico. Great Panther Silver ( NYSEMKT: GPL – Free Report ) Great Panther Silver Limited, a silver mining and exploration company, engages in the mining of mineral properties in Mexico. It explores for silver, gold, lead, and zinc. The company holds interests in the Topia Mine and Guanajuato Mine Complex properties. It also holds mineral property interests in the exploration stage, such as the El Horcon and Santa Rosa projects located in Mexico, and Coricancha Mine Complex located in the Central Andes of Peru. Bottom Line I think Bitcoin blowing up here could benefit gold and silver over the short run. That being said, a great way to play the rise in these metals could be to look at the silver and gold miners. This is a short list to start researching the best one to buy. Looking for Ideas with Even Greater Upside? Today's investment ideas are short-term, directly based on our proven 1 to 3 month indicator. In addition, I invite you to consider our long-term opportunities. These rare trades look to start fast with strong Zacks Ranks, but carry through with double and triple-digit profit potential. Starting now, you can look inside our home run, value, and stocks under $10 portfolios, plus more. Click here for a peek at this private information>> Get the full Report on AGI - FREE Get the full Report on ASM - FREE Get the full Report on FSM - FREE Get the full Report on GPL - FREE Follow us on Twitter: https://twitter.com/ZacksResearch Join us on Facebook: https://www.facebook.com/ZacksInvestmentResearch Zacks Investment Research is under common control with affiliated entities (including a broker-dealer and an investment adviser), which may engage in transactions involving the foregoing securities for the clients of such affiliates. Media Contact Zacks Investment Research 800-767-3771 ext. 9339 [email protected] https://www.zacks.com/performance Past performance is no guarantee of future results. Inherent in any investment is the potential for loss. This material is being provided for informational purposes only and nothing herein constitutes investment, legal, accounting or tax advice, or a recommendation to buy, sell or hold a security. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. It should not be assumed that any investments in securities, companies, sectors or markets identified and described were or will be profitable. All information is current as of the date of herein and is subject to change without notice. Any views or opinions expressed may not reflect those of the firm as a whole. Zacks Investment Research does not engage in investment banking, market making or asset management activities of any securities. These returns are from hypothetical portfolios consisting of stocks with Zacks Rank = 1 that were rebalanced monthly with zero transaction costs. These are not the returns of actual portfolios of stocks. The S&P 500 is an unmanaged index. Visit https://www.zacks.com/performance for information about the performance numbers displayed in this press release. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Alamos Gold Inc. (AGI): Free Stock Analysis Report Avino Silver (ASM): Free Stock Analysis Report Fortuna Silver Mines Inc. (FSM): Free Stock Analysis Report Great Panther Silver Limited (GPL): Free Stock Analysis Report To read this article on Zacks.com click here. View comments \|\| Your first trade for Tuesday, March 14: The "Fast Money" traders shared their first moves for the market open. Tim Seymour was a buyer of JPMorgan Chase(NYSE: JPM). Brian Kelly was a buyer of Intel(NASDAQ: INTC). Steve Grasso was a buyer of Citigroup(NYSE: C). Guy Adami was a buyer of Goldman Sachs(NYSE: GS). Trader disclosure: On March 13, 2017 , the following stocks and commodities mentioned or intended to be mentioned on CNBC's "Fast Money" were owned by the "Fast Money" traders: Guy Adami is long CELG, EXAS, GDX, INTC, Guy Adami's wife, Linda Snow, works at Merck. Steve Grasso's firm is long CUBA, DIA, HES, ICE, KDUS, MAT, MFIN, MJNA, MSFT, NE, RIG, SPY, TITXF, WDR, WPX, WLL, ZNGA. GRASSO IS LONG: CHK, EEM, EVGN, GDX, KBH, MJNA, MON, MU, OLN, PFE, PHM, QCOM, SNAP, SPY, T, TWTR. GRASSO'S KIDS OWN: EFA, EFG, EWJ, IJR, SPY. No Shorts. Brian Kelly is long Bitcoin, XBI, DXJ, TBT, DXY. Short: Yen, US Treasury Bonds.Tim Seymour is long ABX, AAPL, APC, AVP, BAC, BBRY, C, CLF, CVX, DO, DVYE, EDC, EWN, EWZ, F, FB, FCX, FXI, GM, GOOGL, GE, INTC, LQD, MOS, MCD, MUR, OIH, PG, RACE, RAI, RH, RL, SINA, SQ,T, TWTR, VALE, VZ, XOM. short: EEM, SPY, XRT; Tim Seymour's firm is long ABX, BABA, BIDU, CBD, CLF, EEM, EWZ, F, KO, MCD, MPEL, NKE, PEP, PF, TCEHY, SAVE, SBUX, SINA, VALE, VIAB, WMT, WEN, X, YHOO, short EWG, HYG, IWM. More From CNBC • Trading tech stocks after Intel/Mobileye deal • Ackman to CNBC: 'I should have sold' Valeant earlier • Valeant's biggest champion sells entire stake \|\| Your first trade for Tuesday, March 14: The " Fast Money " traders shared their first moves for the market open. Tim Seymour was a buyer of JPMorgan Chase (NYSE: JPM) . Brian Kelly was a buyer of Intel (NASDAQ: INTC) . Steve Grasso was a buyer of Citigroup (NYSE: C) . Guy Adami was a buyer of Goldman Sachs (NYSE: GS) . Trader disclosure: On March 13, 2017 , the following stocks and commodities mentioned or intended to be mentioned on CNBC's "Fast Money" were owned by the "Fast Money" traders: Guy Adami is long CELG, EXAS, GDX, INTC, Guy Adami's wife, Linda Snow, works at Merck. Steve Grasso's firm is long CUBA, DIA, HES, ICE, KDUS, MAT, MFIN, MJNA, MSFT, NE, RIG, SPY, TITXF, WDR, WPX, WLL, ZNGA. GRASSO IS LONG: CHK, EEM, EVGN, GDX, KBH, MJNA, MON, MU, OLN, PFE, PHM, QCOM, SNAP, SPY, T, TWTR. GRASSO'S KIDS OWN: EFA, EFG, EWJ, IJR, SPY. No Shorts. Brian Kelly is long Bitcoin, XBI, DXJ, TBT, DXY. Short: Yen, US Treasury Bonds. Tim Seymour is long ABX, AAPL, APC, AVP, BAC, BBRY, C, CLF, CVX, DO, DVYE, EDC, EWN, EWZ, F, FB, FCX, FXI, GM, GOOGL, GE, INTC, LQD, MOS, MCD, MUR, OIH, PG, RACE, RAI, RH, RL, SINA, SQ,T, TWTR, VALE, VZ, XOM. short: EEM, SPY, XRT; Tim Seymour's firm is long ABX, BABA, BIDU, CBD, CLF, EEM, EWZ, F, KO, MCD, MPEL, NKE, PEP, PF, TCEHY, SAVE, SBUX, SINA, VALE, VIAB, WMT, WEN, X, YHOO, short EWG, HYG, IWM. More From CNBC Trading tech stocks after Intel/Mobileye deal Ackman to CNBC: 'I should have sold' Valeant earlier Valeant's biggest champion sells entire stake \|\| Tuesday Hot Reads: Dividends Pile Up With This High Yield ETF: Compiled by ETF.com Staff Dividends Pile Up With This High-Yield Dividend ETF(SeekingAlpha)The market is exceptionally expensive, butHDVshould be on the watchlist for potential opportunities. Sector Rotation & The Momentum Factor(Newfound Research)Research indicates sector rotation strategies are just poorly executed versions of momentum investing. These Fed Officials Give The Best Policy Signal(Bloomberg)A useful infographic on which Fed officials accurately indicate policy changes, based on a poll of economists. 12b-1 Fees: It Is Time To Bid Them Farewell?(Kitces.com)A look at an added cost to mutual funds that has become even more controversial with the rise of ETFs and fee-based advisors. Schumer Warns Of Government Shutdown Over Trump’s Border Wall(Bloomberg)Senate Democrats warned Republicans Monday that attempts to take funding away from Planned Parenthood or pay for President Donald Trump’s border wall in a stopgap spending bill that must pass by late April would result in a government shutdown. Oil Market Is About To Get Ugly(CNBC)Could we retrace the entirety of the gains off the February 2016 low at $26.05? It's quite possible, writes John Kilduff. Learning From Wounds: What Lies Ahead For Other Bitcoin ETFs(The Cointelegraph)Considering the decision made on the Winklevoss Bitcoin ETF by the Securities and Exchange Commission on Friday, March 10, it's not likely the other two bitcoin ETF applications would be approved. How Shale Is Reshaping The World: 3 New Wars(ZeroHedge)Quote: "The U.S. Shale revolution will accelerate the breakdown of the global order as we know it, reshaping global geopolitics, leading to three major conflicts: Russia vs. Europe, Iran vs. Saudi Arabia and an Asian tanker war." The XLV Levels To Watch These Next 3 Weeks(Schaeffer’s Investment Research)With the GOP health care reform plan in focus,XLVappears to be in the process of forming a triple top. Small-Cap Outperformance Since The Election & Shareholder Yield(MainStay Investments)Small- and midcap stocks have outperformed large-caps since the election. Can the upward move persist? Recommended Stories • Monday Hot Reads: Avoid This Popular Dividend ETF • Tuesday Hot Reads: Dividends Pile Up With This High Yield ETF • Rebalancing Of Smart Beta ETFs Often Overlooked • Tuesday Hot Reads: Top 5 Dividend ETFs For 2017 • Swedroe: Investors’ Odd Affection For Dividends Permalink\| © Copyright 2017ETF.com.All rights reserved \|\| Tuesday Hot Reads: Dividends Pile Up With This High Yield ETF: Compiled by ETF.com Staff Dividends Pile Up With This High-Yield Dividend ETF (SeekingAlpha) The market is exceptionally expensive, but HDV should be on the watchlist for potential opportunities. Sector Rotation & The Momentum Factor (Newfound Research) Research indicates sector rotation strategies are just poorly executed versions of momentum investing. These Fed Officials Give The Best Policy Signal (Bloomberg) A useful infographic on which Fed officials accurately indicate policy changes, based on a poll of economists. 12b-1 Fees: It Is Time To Bid Them Farewell? (Kitces.com) A look at an added cost to mutual funds that has become even more controversial with the rise of ETFs and fee-based advisors. Schumer Warns Of Government Shutdown Over Trump’s Border Wall (Bloomberg) Senate Democrats warned Republicans Monday that attempts to take funding away from Planned Parenthood or pay for President Donald Trump’s border wall in a stopgap spending bill that must pass by late April would result in a government shutdown. Oil Market Is About To Get Ugly (CNBC) Could we retrace the entirety of the gains off the February 2016 low at $26.05? It's quite possible, writes John Kilduff. Learning From Wounds: What Lies Ahead For Other Bitcoin ETFs (The Cointelegraph) Considering the decision made on the Winklevoss Bitcoin ETF by the Securities and Exchange Commission on Friday, March 10, it's not likely the other two bitcoin ETF applications would be approved. How Shale Is Reshaping The World: 3 New Wars (ZeroHedge) Quote: "The U.S. Shale revolution will accelerate the breakdown of the global order as we know it, reshaping global geopolitics, leading to three major conflicts: Russia vs. Europe, Iran vs. Saudi Arabia and an Asian tanker war." The XLV Levels To Watch These Next 3 Weeks (Schaeffer’s Investment Research) With the GOP health care reform plan in focus, XLV appears to be in the process of forming a triple top. Story continues Small-Cap Outperformance Since The Election & Shareholder Yield (MainStay Investments) Small- and midcap stocks have outperformed large-caps since the election. Can the upward move persist? Recommended Stories Monday Hot Reads: Avoid This Popular Dividend ETF Tuesday Hot Reads: Dividends Pile Up With This High Yield ETF Rebalancing Of Smart Beta ETFs Often Overlooked Tuesday Hot Reads: Top 5 Dividend ETFs For 2017 Swedroe: Investors’ Odd Affection For Dividends Permalink \| © Copyright 2017 ETF.com. All rights reserved \|\| Emerging Markets Report: Betting on a BitCoin Run: ORLANDO, FL / ACCESSWIRE / March 14, 2017 /On March 3, 2017 a single BitCoin hit an all-time high, with the digital currency trading for as much as $1,283. The rise was driven, at least in part, by speculation that the Securities and Exchange Commission (SEC) was considering the approval of the first BitCoin-based ETF. Factor in that the leading proponents of the BitCoin based ETF were the Winkelvoss twins of Facebook fame and it is clear that the BitCoin world is in a very different place than it was just a few years ago. This could bode well for companies which have tethered their business to BitCoin and other global digital currencies. EnterDigatrade (DIGAF), a fully-reporting public company on the OTCQB that provides a proprietary global digital asset exchange that includes BitCoin and other others. Digatrade is indeed a pure digital currency play with a mantra of "digitizing finance one bit at a time." The Company is owned and operated by Digatrade Financial Corp, a company with headquarters in Vancouver, Canada. The proprietary Digatrade trading and matching engine manages high volume, high throughput, and low latency trading and was modeled on the same technology recently leveraged by the world's largest Investment Banks. It also features blended multi-currency settlement in addition to real time FX pricing and risk management fully powered by ANX Technologies. Digatrade offers an easy, secure, and affordable platform to buy and sell Bitcoin and other digital assets. Digatrade offers a 24 hour online platform that provides the automated matching of orders between its registered members and it strives to be your Bitcoin connection by making the experience as effortless as possible. It is Digatrade's mission to promote a healthy eco-system by providing value-added Bitcoin exchange services to the public. Digatrade is also lowering the barriers to Bitcoin and other digital asset adoption by increasing ways for consumers to acquire and access digital assets. The Digatrade user interface is focused on simplicity yet provides its' users with all the details they expect when buying and selling Bitcoin. Our designers regularly hold focus groups with the public to obtain feedback on their user experience and preferred user interface. Ease of use and simplicity are the number one priority. If you're looking for confusing menus or complicated navigation then you've come to the wrong place! Security is the cornerstone of Digatrade and the Digatrade team. Every element of our operation has been methodically designed for optimum security. This includes all factors including physical intrusion, exhaustive vetting and background checking of staff members, the cold storage of coins and manual (yet efficient) processing of all withdrawal requests, and dedicated awareness of recurring security threats such as social engineering, phishing, and remote zero day exploits to name only a few. For more information on DIGATRADE visitdigatrade.com. About the Emerging Markets Report: Emerging Markets Report is owned and operated by Emerging Markets Consulting, a syndicate of investor relations consultants representing years of experience. Our network consists of stock brokers, investment bankers, fund managers, and institutions that actively seek opportunities in the micro and small-cap equity markets. For more informative reports such as this, please sign up athttp://www.emergingmarketsllc.com/newsletter.php Section 17(b) of the Securities Act of 1933 requires that any person that uses the mails to publish, give publicity to, or circulate any publication or communication that describes a security in return for consideration received or to be received directly or indirectly from an issuer, underwriter, or dealer, must fully disclose the type of consideration (i.e. cash, free trading stock, restricted stock, stock options, stock warrants) and the specific amount of the consideration. In connection therewith, EMC has received the following compensation and/or has an agreement to receive in the future certain compensation, as described below. We may purchase Securities of the Profiled Company prior to their securities becoming publicly traded, which we may later sell publicly before, during or after our dissemination of the Information, and make profits therefrom. EMC has been paid 50,000 dollars by Marzany Inc. for preparation and distribution of this report and other media services. Emerging Markets Consulting, LLCFlorida Office15701 State Road 50, Suite #205Clermont, FL 34711E-mail:[email protected]:www.emergingmarketsllc.com SOURCE:Emerging Markets Report [Social Media Buzz] 1 #BTC (#Bitcoin) quotes: $1075.06/$1077.99 #Bitstamp $1110.00/$1111.57 #BTCe ⇢$32.01/$36.51 $1068.71/$1083.18 #Coinbase ⇢$-9.28/$8.12 \|\| 本日正午からBTC現物板にて「板寄せ」を開始！午前 11:59 ザラ場終了午前 12:00 （正午）板寄せ開始（この時間の取引は成立しません）午後 12:05 約定（一本値により約定します）ご参加お待ちしております！ https://lightning.bitflyer.jp/ \|\| It's March 17, 2017 at 08:00AM and #Bitcoin $BTC is $1149.00 Lets make some #Money today! \|\| Média de preços #BTC Compra: R$3.818,26 Venda: R$3.760,13 Horário: 03:00 https://watchcoins.net #CotacaoWatchCoins #bi...	973.82, 1036.74, 1054.23, 1120.54, 1049.14, 1038.59, 937.52, 972.78, 966.72, 1045.77
Given the historical Bitcoin prices from the last 90 days, predict the next 10 daily closing prices. The historical prices are: 43537.51, 42909.40, 37002.44, 40782.74, 37304.69, 37536.63, 34770.58, 38705.98, 38402.22, 39294.20, 38436.97, 35697.61, 34616.07, 35678.13, 37332.86, 36684.93, 37575.18, 39208.77, 36894.41, 35551.96, 35862.38, 33560.71, 33472.63, 37345.12, 36702.60, 37334.40, 35552.52, 39097.86, 40218.48, 40406.27, 38347.06, 38053.50, 35787.25, 35615.87, 35698.30, 31676.69, 32505.66, 33723.03, 34662.44, 31637.78, 32186.28, 34649.64, 34434.34, 35867.78, 35040.84, 33572.12, 33897.05, 34668.55, 35287.78, 33746.00, 34235.20, 33855.33, 32877.37, 33798.01, 33520.52, 34240.19, 33155.85, 32702.03, 32822.35, 31780.73, 31421.54, 31533.07, 31796.81, 30817.83, 29807.35, 32110.69, 32313.11, 33581.55, 34292.45, 35350.19, 37337.54, 39406.94, 39995.91, 40008.42, 42235.55, 41626.20, 39974.89, 39201.95, 38152.98, 39747.50, 40869.55, 42816.50, 44555.80, 43798.12, 46365.40, 45585.03, 45593.64, 44428.29, 47793.32, 47096.95.	[Bitcoin Technical Analysis for 2021-08-14] Volume: 31211354442, RSI (14-day): 68.13, 50-day EMA: 39444.74, 200-day EMA: 39250.54 [Wider Market Context] None available. [Recent News (last 7 days)] What Does Liquidation Mean and How to Avoid It?: The crypto market’s high volatility means liquidations are a common occurrence. Bitcoinand other cryptocurrencies are renowned for beinghigh-riskinvestments prone to extreme price swings. But while this volatility makes them a concern for regulators, it also presents an opportunity for investors to generate significant profits, particularly when compared to traditional asset classes like stocks and commodities. Over 2020, amid the coronavirus outbreak,bitcoinended the year up160%versus the S&P 500 at 14% and gold up 22%. Adding to this volatility is the potential to increase the size of crypto trading positions through the use of derivatives products likemargin trading,perpetual swapsandfutures. Derivatives are contracts based on the price of an underlying asset and allow people to bet on the asset’s future price. Crypto derivatives first appeared in2011and have gathered huge momentum in more recent years, especially among gung-ho retail investors looking to get the most out of their trading strategies. Related:How Does Ethereum Staking Work? With margin trading, traders can increase their earning potential by using borrowed funds from a cryptocurrency exchange. Binance, Huobi and Bitmex are some of the leading examples of centralized crypto exchanges that allow customers to trade on margin. But there’s something very important to note here. While borrowing funds to increase your trade positions can amplify any potential gains, you can also lose your invested capital just as easily, making this type of trading a two-edged sword. Margin trading involves increasing the amount of money you have to trade with by borrowing third-party funds. Think of it as borrowing money from a stranger to buy bitcoin or another cryptocurrency. But in this case, you are borrowing from a crypto exchange. This allows investors to increase the size of their trading positions, also known as “leverage.” Naturally, a stranger would not lend you money to trade for free. Similarly, in margin trading, the exchange will require you to put up an amount of crypto or fiat as collateral – known as an “initial margin” – in order to open a trading position. This initial margin is like an insurance fund for the exchange in case the trade goes against the borrower. Related:A Crypto Guide to the Metaverse It is also worth mentioning that the amount of money you can borrow from an exchange relative to your initial margin is determined by the leverage. For example, if you use a 5x leverage on an initial margin of $100, you will be taking a $400 loan to increase your trading position from $100 to $500. Each trade has the potential to make or lose more money depending on the size of the leverage. For instance, using the 5x leverage example above, if the price of an asset rises by 10%, you will make a profit of $50 on your $500 trading position, which represents a 50% profit relative to your initial $100 margin. You could then repay the $400 loan you took out and keep $150 for yourself ($50 profit + $100 initial margin.) However, if the value of the cryptocurrency you’re trading drops by 10%, you would have lost $50 from your initial margin (50% loss.) There is a simple formula to calculate your potential profits/losses when using leverage. Profit or Loss = (Initial Margin) x (% price movement) x (leverage) For clarity, use “plus” to represent positive price movements and “minus” for negative price movements. In general, remember that leverage is how much your initial margin can gain OR lose. Ensure you keep your potential losses to manageable levels. In the context of cryptocurrency markets, liquidation refers to when an exchange forcefully closes a trader’s leveraged position due to a partial or total loss of the trader’s initial margin. It happens when a trader is unable to meet the margin requirements for a leveraged position (fails to have sufficient funds to keep the trade open.) Liquidation occurs in both margin andfutures trading. Trading with a leveraged position is ahigh-riskstrategy, and it is possible to lose your entire collateral (initial margin) if the market makes a large enough move against your leveraged position. In fact, some countries like the United Kingdom consider it so risky it hasbannedcrypto exchanges from offering retail investors leveraged trading products to protect novice traders from being liquidated and losing all their invested capital. You can keep track of the percentage the market needs to move against your position it to be liquidated by using this formula: Liquidation % = 100 / Leverage For instance, if you use 5x leverage, your position will be liquidated if the price of an asset moves 20% against your position (100/5 = 20.) When using leverage, there are a handful of options available to mitigate the chances of being liquidated. One of these options is known as a “stop loss.” A stop-loss, otherwise known as a “stop order” or “stop-market order” is an advanced order that an investor places on a crypto exchange, instructing the exchange to sell an asset when it reaches a particular price point. When setting up a stop loss, you will need to input: • Stop price: The price where the stop loss order will execute • Sell price:The price at which you plan to sell a particular crypto asset • Size: How much of a particular asset you plan to sell If the market price reaches your stop price, the stop order automatically executes and sells the asset at whichever price and amount stated. If the trader feels the market could move quickly against them, they might choose to set the sell price lower than the stop price so it’s more likely to get filled (bought by another trader.) The primary purpose of a stop loss is to limit potential losses. To put things in perspective, let’s consider two scenarios. Scenario 1:A trader has $5,000 in his account but decides to use an initial margin of $100 and leverage of 10x to create a position of $1,000. He places a stop loss at 2.5% from his entry position. In this instance, the trader could potentially lose $25 in this trade, which is a mere 0.5% of his entire account size. If the trader does not use a stop loss, his position will be liquidated if there is a 10% drop in the price of the asset. Remember the liquidation formula above. Scenario 2:Another trader has $5,000 in his trading account but uses an initial margin of $2,500 and a 3x leverage to create a position of $7,500. By placing a stop loss at 2.5% away from his entry position, the trader could lose $187.5 in this trade, a 3.75% loss from their account. The lesson here is that while using higher leverage is typically considered very risky, this factor becomes very important if your position size is too large, as seen in the second scenario. As a rule of thumb, try to keep your losses per trade at less than 1.5% of your entire account size. When it comes to margin trading, risk management is arguably the most important lesson. Your primary goal should be to keep losses at a minimum level even before thinking about profits. No trading model is infallible. Therefore, you must deploy mechanisms to help you survive when the market doesn’t go as expected. Placing stop losses correctly is vitally important, and while there is no golden rule for setting a stop loss, a spread of 2%-5% of your trade size is often recommended. Alternatively, some traders prefer to set stop losses just below the most recent swing low (provided it’s not so low you’d stand to be liquidated before it triggered). Secondly, you should manage your trading size and the associated risk. The higher your leverage, the higher your chances of being liquidated. Using excessive leverage is akin to exposing your capital to unnecessary risk. Moreover, some exchanges manage liquidations aggressively. BitMEX, for example, only allows traders to holdBTC as initial margin. This means if bitcoin’s price falls, so too does the amount of funds held in collateral resulting in faster liquidations. Due to the risk associated with leverage trading, some exchanges have moved to lower the limit traders can access. BothBinanceandFTXare among the leading centralized crypto exchanges to slash leverage limits from 100x to 20x. • What Is Cryptography? • PBoC Says It Will Keep High Pressure on Crypto Trading \|\| What Does Liquidation Mean and How to Avoid It?: The crypto market’s high volatility means liquidations are a common occurrence. Bitcoin and other cryptocurrencies are renowned for being high-risk investments prone to extreme price swings. But while this volatility makes them a concern for regulators, it also presents an opportunity for investors to generate significant profits, particularly when compared to traditional asset classes like stocks and commodities. Over 2020, amid the coronavirus outbreak, bitcoin ended the year up 160% versus the S&P 500 at 14% and gold up 22%. Adding to this volatility is the potential to increase the size of crypto trading positions through the use of derivatives products like margin trading , perpetual swaps and futures . Derivatives are contracts based on the price of an underlying asset and allow people to bet on the asset’s future price. Crypto derivatives first appeared in 2011 and have gathered huge momentum in more recent years, especially among gung-ho retail investors looking to get the most out of their trading strategies. Related: How Does Ethereum Staking Work? With margin trading, traders can increase their earning potential by using borrowed funds from a cryptocurrency exchange. Binance, Huobi and Bitmex are some of the leading examples of centralized crypto exchanges that allow customers to trade on margin. But there’s something very important to note here. While borrowing funds to increase your trade positions can amplify any potential gains, you can also lose your invested capital just as easily, making this type of trading a two-edged sword. What is margin trading? Margin trading involves increasing the amount of money you have to trade with by borrowing third-party funds. Think of it as borrowing money from a stranger to buy bitcoin or another cryptocurrency. But in this case, you are borrowing from a crypto exchange. This allows investors to increase the size of their trading positions, also known as “leverage.” Naturally, a stranger would not lend you money to trade for free. Similarly, in margin trading, the exchange will require you to put up an amount of crypto or fiat as collateral – known as an “initial margin” – in order to open a trading position. This initial margin is like an insurance fund for the exchange in case the trade goes against the borrower. Related: A Crypto Guide to the Metaverse It is also worth mentioning that the amount of money you can borrow from an exchange relative to your initial margin is determined by the leverage. For example, if you use a 5x leverage on an initial margin of $100, you will be taking a $400 loan to increase your trading position from $100 to $500. Story continues Each trade has the potential to make or lose more money depending on the size of the leverage. For instance, using the 5x leverage example above, if the price of an asset rises by 10%, you will make a profit of $50 on your $500 trading position, which represents a 50% profit relative to your initial $100 margin. You could then repay the $400 loan you took out and keep $150 for yourself ($50 profit + $100 initial margin.) However , if the value of the cryptocurrency you’re trading drops by 10%, you would have lost $50 from your initial margin (50% loss.) There is a simple formula to calculate your potential profits/losses when using leverage. Profit or Loss = (Initial Margin) x (% price movement) x (leverage) For clarity, use “plus” to represent positive price movements and “minus” for negative price movements. In general, remember that leverage is how much your initial margin can gain OR lose. Ensure you keep your potential losses to manageable levels. What is liquidation? In the context of cryptocurrency markets, liquidation refers to when an exchange forcefully closes a trader’s leveraged position due to a partial or total loss of the trader’s initial margin. It happens when a trader is unable to meet the margin requirements for a leveraged position (fails to have sufficient funds to keep the trade open.) Liquidation occurs in both margin and futures trading . Trading with a leveraged position is a high-risk strategy, and it is possible to lose your entire collateral (initial margin) if the market makes a large enough move against your leveraged position. In fact, some countries like the United Kingdom consider it so risky it has banned crypto exchanges from offering retail investors leveraged trading products to protect novice traders from being liquidated and losing all their invested capital. You can keep track of the percentage the market needs to move against your position it to be liquidated by using this formula: Liquidation % = 100 / Leverage For instance, if you use 5x leverage, your position will be liquidated if the price of an asset moves 20% against your position (100/5 = 20.) How to avoid liquidation When using leverage, there are a handful of options available to mitigate the chances of being liquidated. One of these options is known as a “stop loss.” A stop-loss, otherwise known as a “stop order” or “stop-market order” is an advanced order that an investor places on a crypto exchange, instructing the exchange to sell an asset when it reaches a particular price point. When setting up a stop loss, you will need to input: Stop price : The price where the stop loss order will execute Sell price: The price at which you plan to sell a particular crypto asset Size : How much of a particular asset you plan to sell If the market price reaches your stop price, the stop order automatically executes and sells the asset at whichever price and amount stated. If the trader feels the market could move quickly against them, they might choose to set the sell price lower than the stop price so it’s more likely to get filled (bought by another trader.) The primary purpose of a stop loss is to limit potential losses. To put things in perspective, let’s consider two scenarios. Scenario 1: A trader has $5,000 in his account but decides to use an initial margin of $100 and leverage of 10x to create a position of $1,000. He places a stop loss at 2.5% from his entry position. In this instance, the trader could potentially lose $25 in this trade, which is a mere 0.5% of his entire account size. If the trader does not use a stop loss, his position will be liquidated if there is a 10% drop in the price of the asset. Remember the liquidation formula above. Scenario 2: Another trader has $5,000 in his trading account but uses an initial margin of $2,500 and a 3x leverage to create a position of $7,500. By placing a stop loss at 2.5% away from his entry position, the trader could lose $187.5 in this trade, a 3.75% loss from their account. The lesson here is that while using higher leverage is typically considered very risky, this factor becomes very important if your position size is too large, as seen in the second scenario. As a rule of thumb, try to keep your losses per trade at less than 1.5% of your entire account size. Where to set a stop loss When it comes to margin trading, risk management is arguably the most important lesson. Your primary goal should be to keep losses at a minimum level even before thinking about profits. No trading model is infallible. Therefore, you must deploy mechanisms to help you survive when the market doesn’t go as expected. Placing stop losses correctly is vitally important, and while there is no golden rule for setting a stop loss, a spread of 2%-5% of your trade size is often recommended. Alternatively, some traders prefer to set stop losses just below the most recent swing low (provided it’s not so low you’d stand to be liquidated before it triggered). Secondly, you should manage your trading size and the associated risk. The higher your leverage, the higher your chances of being liquidated. Using excessive leverage is akin to exposing your capital to unnecessary risk. Moreover, some exchanges manage liquidations aggressively. BitMEX, for example, only allows traders to hold BTC as initial margin . This means if bitcoin’s price falls, so too does the amount of funds held in collateral resulting in faster liquidations. Due to the risk associated with leverage trading, some exchanges have moved to lower the limit traders can access. Both Binance and FTX are among the leading centralized crypto exchanges to slash leverage limits from 100x to 20x. Related Stories What Is Cryptography? PBoC Says It Will Keep High Pressure on Crypto Trading View comments \|\| Strategic Investment Management, Llc Buys iShares MSCI EAFE ETF, iShares MSCI Emerging Markets ...: - By insider Arlington, VA, based Investment company Strategic Investment Management, Llc ( Current Portfolio ) buys iShares MSCI EAFE ETF, iShares MSCI Emerging Markets ETF, sells BTC iShares Core MSCI EAFE ETF, iShares MSCI World ETF, iShares Russell 3000 ETF during the 3-months ended 2021Q2, according to the most recent filings of the investment company, Strategic Investment Management, Llc. As of 2021Q2, Strategic Investment Management, Llc owns 12 stocks with a total value of $231 million. These are the details of the buys and sells. New Purchases: EFA, EEM, Added Positions: GLD, Reduced Positions: IEFA, URTH, IWV, IEMG, IWM, GSG, Warning! GuruFocus has detected 3 Warning Signs with SNOW. Click here to check it out. EFA 15-Year Financial Data The intrinsic value of EFA Peter Lynch Chart of EFA For the details of STRATEGIC INVESTMENT MANAGEMENT, LLC's stock buys and sells, go to https://www.gurufocus.com/guru/strategic+investment+management%2C+llc/current-portfolio/portfolio These are the top 5 holdings of STRATEGIC INVESTMENT MANAGEMENT, LLC BTC iShares Core MSCI EAFE ETF ( IEFA ) - 955,556 shares, 30.95% of the total portfolio. Shares reduced by 23.46% iShares Core S&P 500 ETF ( IVV ) - 107,152 shares, 19.93% of the total portfolio. iShares Core MSCI Emerging Markets ETF ( IEMG ) - 670,322 shares, 19.43% of the total portfolio. Shares reduced by 4.47% iShares Russell 2000 ETF (IWM) - 86,110 shares, 8.54% of the total portfolio. Shares reduced by 6.38% iShares S&P GSCI Commodity-Indexed Trust (GSG) - 1,004,700 shares, 6.99% of the total portfolio. Shares reduced by 6.49% New Purchase: iShares MSCI EAFE ETF (EFA) Strategic Investment Management, Llc initiated holding in iShares MSCI EAFE ETF. The purchase prices were between $74.85 and $81.24, with an estimated average price of $78.57. The stock is now traded at around $81.325000. The impact to a portfolio due to this purchase was 2.98%. The holding were 87,360 shares as of 2021-06-30. New Purchase: iShares MSCI Emerging Markets ETF (EEM) Strategic Investment Management, Llc initiated holding in iShares MSCI Emerging Markets ETF. The purchase prices were between $51.78 and $55.85, with an estimated average price of $54.14. The stock is now traded at around $51.675000. The impact to a portfolio due to this purchase was 1.49%. The holding were 62,380 shares as of 2021-06-30. Here is the complete portfolio of STRATEGIC INVESTMENT MANAGEMENT, LLC. Also check out: 1. STRATEGIC INVESTMENT MANAGEMENT, LLC's Undervalued Stocks 2. STRATEGIC INVESTMENT MANAGEMENT, LLC's Top Growth Companies, and 3. STRATEGIC INVESTMENT MANAGEMENT, LLC's High Yield stocks 4. Stocks that STRATEGIC INVESTMENT MANAGEMENT, LLC keeps buyingThis article first appeared on GuruFocus . View comments \|\| Strategic Investment Management, Llc Buys iShares MSCI EAFE ETF, iShares MSCI Emerging Markets ...: - By insiderArlington, VA, based Investment companyStrategic Investment Management, Llc(Current Portfolio) buys iShares MSCI EAFE ETF, iShares MSCI Emerging Markets ETF, sells BTC iShares Core MSCI EAFE ETF, iShares MSCI World ETF, iShares Russell 3000 ETF during the 3-months ended 2021Q2, according to the most recent filings of the investment company, Strategic Investment Management, Llc. As of 2021Q2, Strategic Investment Management, Llc owns 12 stocks with a total value of $231 million. These are the details of the buys and sells. • New Purchases:EFA, EEM, • Added Positions:GLD, • Reduced Positions:IEFA, URTH, IWV, IEMG, IWM, GSG, • Warning! GuruFocus has detected 3 Warning Signs with SNOW. Click here to check it out. • EFA 15-Year Financial Data • The intrinsic value of EFA • Peter Lynch Chart of EFA For the details of STRATEGIC INVESTMENT MANAGEMENT, LLC's stock buys and sells,go tohttps://www.gurufocus.com/guru/strategic+investment+management%2C+llc/current-portfolio/portfolio These are the top 5 holdings of STRATEGIC INVESTMENT MANAGEMENT, LLC 1. BTC iShares Core MSCI EAFE ETF (IEFA) - 955,556 shares, 30.95% of the total portfolio. Shares reduced by 23.46% 2. iShares Core S&P 500 ETF (IVV) - 107,152 shares, 19.93% of the total portfolio. 3. iShares Core MSCI Emerging Markets ETF (IEMG) - 670,322 shares, 19.43% of the total portfolio. Shares reduced by 4.47% 4. iShares Russell 2000 ETF (IWM) - 86,110 shares, 8.54% of the total portfolio. Shares reduced by 6.38% 5. iShares S&P GSCI Commodity-Indexed Trust (GSG) - 1,004,700 shares, 6.99% of the total portfolio. Shares reduced by 6.49% New Purchase: iShares MSCI EAFE ETF (EFA) Strategic Investment Management, Llc initiated holding in iShares MSCI EAFE ETF. The purchase prices were between $74.85 and $81.24, with an estimated average price of $78.57. The stock is now traded at around $81.325000. The impact to a portfolio due to this purchase was 2.98%. The holding were 87,360 shares as of 2021-06-30. New Purchase: iShares MSCI Emerging Markets ETF (EEM) Strategic Investment Management, Llc initiated holding in iShares MSCI Emerging Markets ETF. The purchase prices were between $51.78 and $55.85, with an estimated average price of $54.14. The stock is now traded at around $51.675000. The impact to a portfolio due to this purchase was 1.49%. The holding were 62,380 shares as of 2021-06-30. Here is the complete portfolio of STRATEGIC INVESTMENT MANAGEMENT, LLC. Also check out:1. STRATEGIC INVESTMENT MANAGEMENT, LLC's Undervalued Stocks2. STRATEGIC INVESTMENT MANAGEMENT, LLC's Top Growth Companies, and3. STRATEGIC INVESTMENT MANAGEMENT, LLC's High Yield stocks4. Stocks that STRATEGIC INVESTMENT MANAGEMENT, LLC keeps buyingThis article first appeared onGuruFocus. \|\| Market Wrap: Ethereum Keeps Burning and Price Is Hot: Bitcoin’s price rose Friday, back above $46,000 after dipping as low as $43,800 the prior day. The largest cryptocurrency by market value was trading close to its highest level in more than two months, sitting on a 60% year-to-date gain after rallying from a low around $29,000 as recently as June. A key threshold is the 200-day moving average of the price, currently around $45,000. Related:Crypto Funds Suffer 6th Week of Outflows Despite Bitcoin Rally “The 200-day moving average is pivotal in the day trader’s mind,” Matt Blom, head of trading for the digital-asset firm Eqonex, wrote in his daily newsletter. “A deeper dip to $40,900 will signal that the market is shaping up to form a new trading range, with $41,000 and $46,000 as the key levels.” Cryptocurrencies: • Bitcoin(BTC) $46,847, +4.83% • Ether(ETH) $3,224.2, +5.66% Traditional markets: • S&P 500: 4468.1, +0.2% • Gold: $1778.3, +1.46% • 10-year Treasury yield closed at 1.294%, compared with 1.369% on Thursday In an interview this week, Blom said the $50,000 price level may prove more difficult for bitcoin to break through than when the cryptocurrency soared past that level earlier this year en route to the all-time high price close to $65,000. Related:Figment Raises $50M to Build Up Proof-of-Stake Infrastructure That’s partly because some long-time bitcoin investors who missed the opportunity to take profits during that early-2021 rally might choose to do so once the key psychological hurdle of $50,000 is reached, Blom predicts. Such selling might “limit the upside for several weeks,” Blom said. “As soon as we get to $50K, I think we’re going to churn,” Blom said. “People are going to take some coins off. I don’t care how much of a HODLer you are.” In crypto-trading jargon, a HODLer is an investor who buys tokens under a plan to hold them for a long time. Cardano (ADA)jumped past $2 for the first timein nearly three months as the blockchain’s chief developer announced a September release date for the planned “Alonzo” upgrade – a move that would usher in smart-contract functionality and thus address what critics have described as one of the network’s most glaring deficiencies. Smart-contract functionality would allow Cardano to incorporate more applications including so-called decentralized finance (DeFi) platforms that allow for automated cryptocurrency lending and trading. The improvement could put the network in a better position to challenge Ethereum, currently the leader among blockchains with smart-contract functionality. The ADA price reached $2.08 at 9:05 UTC Friday, the highest since mid-May, when ADA was trading at $2.31 at its all-time high. Over the past 24 hours it’s up 16%. The recent price rally has pushed cardano’s market capitalization to about $65 billion, vying with binance coin (BNB) and tether (USDT) for the No. 3 rank among all cryptocurrencies by market value after No. 1 bitcoin and No. 2 ether. Ether traders are acutely focused on data from the underlying Ethereum blockchain’s recent upgrade, known as the London hard fork – and the potential for the refresh to reduce the cryptocurrency’s supply growth. Under Ethereum Improvement Proposal 1559, a component of the London upgrade that’s usually shorthanded as just EIP 1559, base fees paid to transact on the blockchain get “burned,” meaning they offset some of the 2 ETH created as miner rewards with each data block. As of press time, some 38,261 ETH have been burned in accordance with EIP 1559, according to the website Watch the Burn. The amount represents more than $120 million, and has reduced the net issuance of new ether by an estimated 35%. The big question is whether institutional investors who are creeping into digital-asset markets might start to see ether as an inflation-resistant asset, similar to the way many bitcoin bulls have cast that cryptocurrency. As bitcoin has rallied 16% in August, ether has outperformed with a 26% gain. On a year-to-date basis, ether has quadrupled in price while bitcoin is up 58%. FundStrat, the investment-research firm, wrote this week: “We expect fees moving through the platform to increase concurrent with the recent uptick in market activity and consequently should continue to see further disinflationary and perhaps even deflationary effects on Ethereum’s circulating supply, resulting in positive price performance.” It’s notable that Mike McGlone, the Bloomberg Intelligence analyst who won big plaudits for his (ultimately) accurate call last year that bitcoin would hit $50,000, raised the possibility in a report this week that ether might eventually challenge the larger cryptocurrency for the top spot in the rankings of digital assets by market capitalization. Crypto insiders often refer to that imagined change in the leaderboard as the “flippening.” “There appears little can stop the process of ethereum ‘flippening’ to take the top spot by market cap, even it takes years rather than months at current trajectories,” McGlone wrote. “Ethereum appears on an enduring path as the go-to platform for the crypto ecosystem and decentralization of finance akin to Amazon Inc. and e-commerce.” The drama around the largest hack in decentralized finance (DeFi) historyappears to be coming to an endafter the attacker returned most of the stolen funds to a multisig wallet set up by Poly Network, with the exception of the $33 million worth of tether that was frozen by Tether, CoinDesk’s Muyao Shen reports. “What crypto investors and regulators should be concerned about here is that this wasn’t a hack in the traditional sense, where someone gains unauthorised access,” wrote David Janczewski, co-founder and CEO at crypto security company Coincover in an email. “This appears to have been an exploit, where a user runs public code to take advantage of an undiscovered security issue,” Janczewski wrote. “This type of exploit certainly won’t be the last as funds deposited into smart contracts like this are always exposed to risks associated with how those smart contracts are coded.” • Polygon Merges With Hermez Network:Polygon, a layer 2 platform on the Ethereum blockchain, ismergingwith rollup platform Hermez Network in a 250 millionMATICdeal. The acquisition was worth about $250 million based on MATIC’s price on Aug. 4, when the deal was struck. Hermez will be absorbed into the Polygon ecosystem under the name Polygon Hermez, where it will become a part of Polygon’s line of products, including Polygon SDK and Polygon Avail. The entire Hermez project – its employees, technology and native HEZ token (which holders will be able to exchange at a rate of 3.5 MATIC: 1 HEZ) – will be integrated into Polygon’s platform. Polygon’s merger with Hermez is the first complete merger of one blockchain network into another. • Kaszek Makes First DeFi Investment:Kaszek, a leading Latin American venture capital fund,madeits first decentralized finance (DeFi) investment, leading a $3 million round in Exactly, a startup that is building an open-source, non-custodial credit protocol on the Ethereum platform. “We see a gigantic emerging opportunity in DeFi, which will change the financial landscape in unimaginable ways in the years to come,” Hernán Kazah, Kaszek’s co-founder and managing partner, said in a statement, adding that the investment is part of two recently raised funds totaling $1 billion. • 50 Years After Bretton Woods, the US Dollar’s Throne Is in Play • Binance Ordered by London High Court to Trace $2.6M Hackers • Bitcoin Development Boost: FTX Is Donating $450K to Brink • Binance Discontinues South Korean Won Trading Pairs, Payment Options • Fortune Raises Over $1.3M in Cover Art NFT Sale Most digital assets on CoinDesk 20 ended higher on Friday. In fact everything was in the green except for dollar-linked stablecoins. Notable winners of 21:00 UTC (4:00 p.m. ET): cardano(ADA) +12.85% chainlink(LINK) +7.72% polygon(MATIC) +7.65% • Bitcoin Holds Support; Approaching $50K Resistance • Cryptocurrency Market Tops $2T for First Time Since May \|\| Market Wrap: Ethereum Keeps Burning and Price Is Hot: Bitcoin’s price rose Friday, back above $46,000 after dipping as low as $43,800 the prior day. The largest cryptocurrency by market value was trading close to its highest level in more than two months, sitting on a 60% year-to-date gain after rallying from a low around $29,000 as recently as June. A key threshold is the 200-day moving average of the price, currently around $45,000. Related: Crypto Funds Suffer 6th Week of Outflows Despite Bitcoin Rally “The 200-day moving average is pivotal in the day trader’s mind,” Matt Blom, head of trading for the digital-asset firm Eqonex, wrote in his daily newsletter. “A deeper dip to $40,900 will signal that the market is shaping up to form a new trading range, with $41,000 and $46,000 as the key levels.” Latest prices Cryptocurrencies: Bitcoin (BTC) $46,847, +4.83% Ether (ETH) $3,224.2, +5.66% Traditional markets: S&P 500: 4468.1, +0.2% Gold: $1778.3, +1.46% 10-year Treasury yield closed at 1.294%, compared with 1.369% on Thursday What lies ahead? In an interview this week, Blom said the $50,000 price level may prove more difficult for bitcoin to break through than when the cryptocurrency soared past that level earlier this year en route to the all-time high price close to $65,000. Related: Figment Raises $50M to Build Up Proof-of-Stake Infrastructure That’s partly because some long-time bitcoin investors who missed the opportunity to take profits during that early-2021 rally might choose to do so once the key psychological hurdle of $50,000 is reached, Blom predicts. Such selling might “limit the upside for several weeks,” Blom said. “As soon as we get to $50K, I think we’re going to churn,” Blom said. “People are going to take some coins off. I don’t care how much of a HODLer you are.” In crypto-trading jargon, a HODLer is an investor who buys tokens under a plan to hold them for a long time. Cardano announces September release date for ‘Alonzo’ upgrade Cardano ( ADA ) jumped past $2 for the first time in nearly three months as the blockchain’s chief developer announced a September release date for the planned “Alonzo” upgrade – a move that would usher in smart-contract functionality and thus address what critics have described as one of the network’s most glaring deficiencies. Smart-contract functionality would allow Cardano to incorporate more applications including so-called decentralized finance (DeFi) platforms that allow for automated cryptocurrency lending and trading. The improvement could put the network in a better position to challenge Ethereum, currently the leader among blockchains with smart-contract functionality. Story continues The ADA price reached $2.08 at 9:05 UTC Friday, the highest since mid-May, when ADA was trading at $2.31 at its all-time high. Over the past 24 hours it’s up 16%. The recent price rally has pushed cardano’s market capitalization to about $65 billion, vying with binance coin ( BNB ) and tether ( USDT ) for the No. 3 rank among all cryptocurrencies by market value after No. 1 bitcoin and No. 2 ether. Ethereum keeps burning and price is hot Ether traders are acutely focused on data from the underlying Ethereum blockchain’s recent upgrade, known as the London hard fork – and the potential for the refresh to reduce the cryptocurrency’s supply growth. Under Ethereum Improvement Proposal 1559, a component of the London upgrade that’s usually shorthanded as just EIP 1559, base fees paid to transact on the blockchain get “burned,” meaning they offset some of the 2 ETH created as miner rewards with each data block. As of press time, some 38,261 ETH have been burned in accordance with EIP 1559, according to the website Watch the Burn. The amount represents more than $120 million, and has reduced the net issuance of new ether by an estimated 35%. The big question is whether institutional investors who are creeping into digital-asset markets might start to see ether as an inflation-resistant asset, similar to the way many bitcoin bulls have cast that cryptocurrency. As bitcoin has rallied 16% in August, ether has outperformed with a 26% gain. On a year-to-date basis, ether has quadrupled in price while bitcoin is up 58%. FundStrat, the investment-research firm, wrote this week: “We expect fees moving through the platform to increase concurrent with the recent uptick in market activity and consequently should continue to see further disinflationary and perhaps even deflationary effects on Ethereum’s circulating supply, resulting in positive price performance.” It’s notable that Mike McGlone, the Bloomberg Intelligence analyst who won big plaudits for his (ultimately) accurate call last year that bitcoin would hit $50,000, raised the possibility in a report this week that ether might eventually challenge the larger cryptocurrency for the top spot in the rankings of digital assets by market capitalization. Crypto insiders often refer to that imagined change in the leaderboard as the “flippening.” “There appears little can stop the process of ethereum ‘flippening’ to take the top spot by market cap, even it takes years rather than months at current trajectories,” McGlone wrote. “Ethereum appears on an enduring path as the go-to platform for the crypto ecosystem and decentralization of finance akin to Amazon Inc. and e-commerce.” Poly Network exploit update The drama around the largest hack in decentralized finance (DeFi) history appears to be coming to an end after the attacker returned most of the stolen funds to a multisig wallet set up by Poly Network, with the exception of the $33 million worth of tether that was frozen by Tether, CoinDesk’s Muyao Shen reports. “What crypto investors and regulators should be concerned about here is that this wasn’t a hack in the traditional sense, where someone gains unauthorised access,” wrote David Janczewski, co-founder and CEO at crypto security company Coincover in an email. “This appears to have been an exploit, where a user runs public code to take advantage of an undiscovered security issue,” Janczewski wrote. “This type of exploit certainly won’t be the last as funds deposited into smart contracts like this are always exposed to risks associated with how those smart contracts are coded.” Altcoin roundup: Polygon Merges With Hermez Network: Polygon, a layer 2 platform on the Ethereum blockchain, is merging with rollup platform Hermez Network in a 250 million MATIC deal. The acquisition was worth about $250 million based on MATIC’s price on Aug. 4, when the deal was struck. Hermez will be absorbed into the Polygon ecosystem under the name Polygon Hermez, where it will become a part of Polygon’s line of products, including Polygon SDK and Polygon Avail. The entire Hermez project – its employees, technology and native HEZ token (which holders will be able to exchange at a rate of 3.5 MATIC: 1 HEZ) – will be integrated into Polygon’s platform. Polygon’s merger with Hermez is the first complete merger of one blockchain network into another. Kaszek Makes First DeFi Investment: Kaszek, a leading Latin American venture capital fund, made its first decentralized finance (DeFi) investment, leading a $3 million round in Exactly, a startup that is building an open-source, non-custodial credit protocol on the Ethereum platform. “We see a gigantic emerging opportunity in DeFi, which will change the financial landscape in unimaginable ways in the years to come,” Hernán Kazah, Kaszek’s co-founder and managing partner, said in a statement, adding that the investment is part of two recently raised funds totaling $1 billion. Relevant News 50 Years After Bretton Woods, the US Dollar’s Throne Is in Play Binance Ordered by London High Court to Trace $2.6M Hackers Bitcoin Development Boost: FTX Is Donating $450K to Brink Binance Discontinues South Korean Won Trading Pairs, Payment Options Fortune Raises Over $1.3M in Cover Art NFT Sale Other markets Most digital assets on CoinDesk 20 ended higher on Friday. In fact everything was in the green except for dollar-linked stablecoins. Notable winners of 21:00 UTC (4:00 p.m. ET): cardano (ADA) +12.85% chainlink (LINK) +7.72% polygon (MATIC) +7.65% Related Stories Bitcoin Holds Support; Approaching $50K Resistance Cryptocurrency Market Tops $2T for First Time Since May View comments \|\| IRS, in Boon to Crypto, Will Reportedly Ignore How Bill Defines Broker; Bitcoin Rises: Related:Pelosi Ally Asks US House Speaker to Modify Crypto Language in Infrastructure Bill • Market Wrap: Bitcoin Rallies Despite Cooler Inflation Data • By Taxing Crypto, the US Government Has Accepted It’s Here to Stay \|\| IRS, in Boon to Crypto, Will Reportedly Ignore How Bill Defines Broker; Bitcoin Rises: Related: Pelosi Ally Asks US House Speaker to Modify Crypto Language in Infrastructure Bill A) a dealer, (B) a barter exchange, and (C) any other person who (for a consideration) regularly acts as a middleman with respect to property or services. Related Stories Market Wrap: Bitcoin Rallies Despite Cooler Inflation Data By Taxing Crypto, the US Government Has Accepted Its Here to Stay View comments \|\| IRS, in Boon to Crypto, Will Reportedly Ignore How Bill Defines Broker; Bitcoin Rises: Related:Pelosi Ally Asks US House Speaker to Modify Crypto Language in Infrastructure Bill • Market Wrap: Bitcoin Rallies Despite Cooler Inflation Data • By Taxing Crypto, the US Government Has Accepted It’s Here to Stay \|\| Cardano Jumps on Signals Smart Contracts Coming Next Month: Cardanojumped past$2 for the first time in nearly three months as the blockchain’s chief developer announced a September release date for the planned “Alonzo” upgrade – a move that would usher in smart-contract functionality and thus address what critics have described as one of the network’s most glaring deficiencies. Smart-contract functionality would allow Cardano to incorporate more applications including so-called decentralized finance (DeFi) platforms that allow for automated cryptocurrency lending and trading. The improvement could put the network in a better position to challenge Ethereum, currently the leader among blockchains with smart-contract functionality. The ADA price reached $2.08 at 9:05 UTC Friday, the highest since mid-May, when ADA was trading at $2.31 at its all-time high. Over the past 24 hours, it’s up 16%. The recent price rally has pushed cardano’s market capitalization to about $65 billion, vying with binance coin (BNB) and tether (USDT) for the No. 3 rank among all cryptocurrencies by market value after No. 1 bitcoin (BTC) and No. 2 ether (ETH). Related:Figment Raises $50M to Build Up Proof-of-Stake Infrastructure Nigel Hemsley, head of delivery for Cardano, said in avideoreleased by developer Input Output Friday that the platform would launch the Alonzo upgrade on “Monday, Sept. 12,” though a quick glance at the calendar shows that the date falls on a Sunday this year. The developer later tweeted again saying that the platform targeted simply “Sept. 12” for the upgrade. Started by Ethereum co-founder Charles Hoskinson, Cardano isa blockchain that aims to competewith Ethereum and other decentralized application platforms but as an avowedly more scalable, secure and efficient alternative. “Any growth in the price of cryptocurrencies is either directly caused by positive news driving up sentiments among buyers or a growth in tandem with the overall market trend,” Yuri Mazur, head of data analytics at crypto trading platform CEX.IO broker, wrote via email. “Cardano’s highly anticipated Alonzo upgrade is also a good reason for investors to stack up the coin.” The optimism has also risen in aprediction marketstarted in July that allows participants to bet on whether Cardano canrelease smart contract functionality by Oct. 1. Related:Cryptocurrency Market Tops $2T for First Time Since May As of press time, the betting contract, which pays out $1 of the stablecoinUSDCif Cardano succeeds in meeting the timeline, was trading at 85 cents. That’s up from 30 cents on July 18, when the market was first launched. • Market Wrap: Ethereum Keeps Burning and Price Is Hot • Ether Upside Strengthens Relative to Bitcoin \|\| Cardano Jumps on Signals Smart Contracts Coming Next Month: Cardano jumped past $2 for the first time in nearly three months as the blockchain’s chief developer announced a September release date for the planned “Alonzo” upgrade – a move that would usher in smart-contract functionality and thus address what critics have described as one of the network’s most glaring deficiencies. Smart-contract functionality would allow Cardano to incorporate more applications including so-called decentralized finance (DeFi) platforms that allow for automated cryptocurrency lending and trading. The improvement could put the network in a better position to challenge Ethereum, currently the leader among blockchains with smart-contract functionality. The ADA price reached $2.08 at 9:05 UTC Friday, the highest since mid-May, when ADA was trading at $2.31 at its all-time high. Over the past 24 hours, it’s up 16%. The recent price rally has pushed cardano’s market capitalization to about $65 billion, vying with binance coin ( BNB ) and tether ( USDT ) for the No. 3 rank among all cryptocurrencies by market value after No. 1 bitcoin ( BTC ) and No. 2 ether ( ETH ). Related: Figment Raises $50M to Build Up Proof-of-Stake Infrastructure Nigel Hemsley, head of delivery for Cardano, said in a video released by developer Input Output Friday that the platform would launch the Alonzo upgrade on “Monday, Sept. 12,” though a quick glance at the calendar shows that the date falls on a Sunday this year. The developer later tweeted again saying that the platform targeted simply “ Sept. 12 ” for the upgrade. Started by Ethereum co-founder Charles Hoskinson, Cardano is a blockchain that aims to compete with Ethereum and other decentralized application platforms but as an avowedly more scalable, secure and efficient alternative. “Any growth in the price of cryptocurrencies is either directly caused by positive news driving up sentiments among buyers or a growth in tandem with the overall market trend,” Yuri Mazur, head of data analytics at crypto trading platform CEX.IO broker, wrote via email. “Cardano’s highly anticipated Alonzo upgrade is also a good reason for investors to stack up the coin.” Story continues The optimism has also risen in a prediction market started in July that allows participants to bet on whether Cardano can release smart contract functionality by Oct. 1. Related: Cryptocurrency Market Tops $2T for First Time Since May As of press time, the betting contract, which pays out $1 of the stablecoin USDC if Cardano succeeds in meeting the timeline, was trading at 85 cents. That’s up from 30 cents on July 18, when the market was first launched. Related Stories Market Wrap: Ethereum Keeps Burning and Price Is Hot Ether Upside Strengthens Relative to Bitcoin \|\| Money Reimagined: A Turning Point for Crypto: When the “Conversation” section in last Friday’s newsletter covered the swirling congressional debate over the crypto provision in the U.S. Senate infrastructure bill, it was already a big story. But what happened over the next three days took it to a new level. Officially, the debate ended in a loss for the crypto community, but as this week’s column points out, it actually played out as a positive watershed moment in the technology’s public profile. As the column highlights, the legislative battle captured a new-versus-old struggle. That’s also the core theme of this week’s podcast episode, whose news hook is the 50th anniversary of one of the most important and most underappreciated events of the second half of the 20th century: the removal of the dollar’s peg to gold on Aug. 15, 1971. With Cornell economic professor Eswar Prasad and CoinDesk podcast managing editor Adam B. Levine as our guests, Sheila Warren and I dig into the legacy of that event and how it frames the coming digital currency war. Have a listen after reading the column. Congress gives crypto a gift: the moral high ground Related: Is the US Government at War With Itself Over Crypto Regulatory Authority? Every now and then a loss can be viewed as a victory. That’s how I feel about the crypto community’s prodigious but ultimately failed attempt to get the Senate to amend a highly damaging cryptocurrency surveillance provision in its infrastructure spending bill. The episode, with a made-for-Hollywood plot in which thousands of highly motivated activists were, in the end, obstructed by a single, self-interested senator, has made it easier to tell crypto’s story of inexorable change. The industry is now armed with the same basic narrative that revolutionaries and activists have carried throughout history, one of a persistent struggle that will eventually be victorious when the old inevitably gives way to the new. Story continues You’re reading Money Reimagined , a weekly look at the technological, economic and social events and trends that are redefining our relationship with money and transforming the global financial system. Subscribe to get the full newsletter here . Related: NYDFS Head Lacewell to Depart Agency by Month’s End As my colleague Emily Parker noted this week , the crypto community needs to get better at telling its story. Even as Bitcoin advocates keep touting the benefits of a decentralized, peer-to-peer exchange and of a provably scarce store of digital value, the idea has mostly failed to resonate with a large enough swath of the general public. While attitudes are clearly shifting as crypto adoption expands, that mainstream understanding gap makes it possible for the likes of Sen. Elizabeth Warren (D-Mass) to rail against the “dangers” of crypto. But the past week feels like a turning point. It started out when Sen. Rob Portman (R-Ohio) inserted a provision into the infrastructure spending bill that would increase the tax reporting requirements of cryptocurrency exchanges and capture an estimated $28 billion in new tax revenue (as a contribution to the bill’s $1 trillion-plus price tag). The biggest problem with the provision was the sweeping, catch-all language of what constitutes a “broker,” which crypto industry lawyers argued would be prone to wide interpretation, potentially capturing miners and open-source developers in an obligation to report to the Internal Revenue Service. As we argued in an editorial on Monday , the provision as written raised the specter of draconian surveillance of people’s day-to-day transactions, would drive crypto innovation offshore and was quite probably unenforceable. Grassroots action Almost immediately, crypto advocacy groups including Coin Center, the Blockchain Alliance, the Digital Chamber of Commerce and the Association for Digital Asset Markets (ADAM) sprung into action. They managed to convince Senators Ron Wyden (D-Ore), Cynthia Lummis (R-Wyo.) and Pat Toomey (R-Penn.) to sponsor an amendment that would narrow the responsibility for reporting to exchanges providing custodial services to their customers and exempt miners and developers from its requirements. The bipartisan nature of that sponsorship was key. With the aid of some savvy social media campaigning by Fight for the Future , these groups successfully motivated thousands of crypto enthusiasts to call, email and tweet at their senators, urging them to embrace the Wyden-Lummis-Toomey amendment. This mass action made it clear that, while the lobby groups themselves are funded by crypto enterprises, their real power comes from crypto investors and others engaged in the industry who are strongly motivated to participate in grassroots campaigns. It gave it the feel of a popular message, not just one coming from vested interests. The campaign was immediately impactful. Lawmakers from both houses of Congress and across the political divide started weighing in in support of the amendment and criticizing the original provision as a threat to American leadership in innovation and as a breach of privacy. Even Portman himself acknowledged that the Senate should look at tweaking the provision’s language to remove its ambiguities. His first formal attempt to fix it – a competing amendment co-sponsored with Senators Mark Warner (D-Va.) and Kyrsten Sinema (D-Ariz.) in line with the White House and Treasury Department’s wishes – arguably did more harm than good as it tried to distinguish between proof-of-work and proof-of-stake in a clumsy attempt to keep developers of the latter within the purview of the law. But eventually, the three of them reached a deal with Wyden, Lummis and Toomey, drafting a new amendment Monday that all six senators were happy with and that crypto advocacy groups such as Coin Center said they could support. Just getting to that point was an impressive achievement for the crypto community. The holdout What happened next was almost comical. Put to a consent vote requiring 100% approval, the new amendment won the support of 99 out of 100 senators. The holdout was Richard Selby, a Republican representing Alabama. He refused to sign unless an additional $50 billion defense contracting provision was added to the bill. That was rejected by Sen. Bernie Sanders (I-Vt.), and so the do-or-die amendment vote failed, which meant the bill’s original crypto provision remained intact, despite universal recognition of its problematic wording. (Shelby even acknowledged that it was flawed.) Many in the crypto community speculated that Shelby was more motivated by protecting the interests of his Wall Street donors than the defense industry. After 35 years in the Senate, he is due to retire in 2022, feeding a conspiracy theory that, in doing the anti-crypto bidding of bankers, he was paving the way for his staffers to get jobs on the Street when he leaves. Whether true or not, the image of a white, elderly man who has occupied his office since the Cold War petulantly refusing to support sensible legislation that’s pro-innovation and designed to maximize long-term tax revenues, all because of his own narrow, special interests, is just what crypto needs. Juxtaposed against the grassroots campaigning of tens of thousands of crypto enthusiasts around the country, many of them many generations younger than Shelby, his stubborn resistance has become the perfect image of the old guard resisting change to protect its own interests. It speaks directly to the very problem of centralized gatekeepers that Bitcoin and other blockchain technologies seek to get around. If crypto advocates need an image with which to illustrate that problem, what could be better than that of an aged, out-of-touch senator, captured by corporate interests, blocking the wishes of every other senator. In this case, he is literally “The 1%.” Now, as the fight over the bill goes to the House of Representatives, the community is rightfully invigorated. Sure, there’ll be plenty of resistance from other self-interested congressmen, which means this stupidly worded crypto provision could yet still become law. But even if that happens, the moral victory has been won. The once fringe-dwelling crypto community finds itself legitimized, which will eventually result in a policy environment that is constructive to the industry. The plot has changed, with a conclusion that looks far more friendly to the industry than that which its opponents have wanted to write. Off the charts: Penguins and punks We’re in the midst of a mania, a mania for pudgy penguins, crypto punk and bored apes. I talk, of course, of non-fungible tokens. Trading volumes on the NFT marketplace OpenSea is the best way to represent this mania. Check this chart that CoinDesk’s Shuai Hao created from data provided by Dune Analytics. Soaring August volumes on OpenSea show that the NFT craze still has legs. When NFT prices went sky-high earlier this year, only to fall fast, many observers said the market was all hype, but these numbers suggest otherwise. What matters now is less so the prices and more so the volumes. This is not to say that prices aren’t getting elevated too. We’re not talking about numbers like $69.3 million that Beeple’s “The First 5,000 Days” fetched in March. But the 400 ether ($1.3 million) that someone paid for this image from the Bored Ape Yacht Club series is hardly chump change. Related Stories 50 Years After Bretton Woods, the US Dollar’s Throne Is in Play What Blockchain Oracles Do Not See \|\| Money Reimagined: A Turning Point for Crypto: When the “Conversation” section in last Friday’s newsletter covered the swirling congressional debate over the crypto provision in the U.S. Senate infrastructure bill, it was already a big story. But what happened over the next three days took it to a new level. Officially, the debate ended in a loss for the crypto community, but as this week’s column points out, it actually played out as a positive watershed moment in the technology’s public profile. As the column highlights, the legislative battle captured a new-versus-old struggle. That’s also the core theme of this week’s podcast episode, whose news hook is the 50th anniversary of one of the most important and most underappreciated events of the second half of the 20th century: the removal of the dollar’s peg to gold on Aug. 15, 1971. With Cornell economic professor Eswar Prasad and CoinDesk podcast managing editor Adam B. Levine as our guests, Sheila Warren and I dig into the legacy of that event and how it frames the coming digital currency war. Have a listen after reading the column. Related:Is the US Government at War With Itself Over Crypto Regulatory Authority? Every now and then a loss can be viewed as a victory. That’s how I feel about the crypto community’s prodigious but ultimately failed attempt to get the Senate to amend a highly damaging cryptocurrency surveillance provision in its infrastructure spending bill. The episode, with a made-for-Hollywood plot in which thousands of highly motivated activists were, in the end, obstructed by a single, self-interested senator, has made it easier to tell crypto’s story of inexorable change. The industry is now armed with the same basic narrative that revolutionaries and activists have carried throughout history, one of a persistent struggle that will eventually be victorious when the old inevitably gives way to the new. You’re readingMoney Reimagined, a weekly look at the technological, economic and social events and trends that are redefining our relationship with money and transforming the global financial system. Subscribe to get the full newsletterhere. Related:NYDFS Head Lacewell to Depart Agency by Month’s End As my colleagueEmily Parker noted this week, the crypto community needs to get better at telling its story. Even as Bitcoin advocates keep touting the benefits of a decentralized, peer-to-peer exchange and of a provably scarce store of digital value, the idea has mostly failed to resonate with a large enough swath of the general public. While attitudes are clearly shifting as crypto adoption expands, that mainstream understanding gap makes it possible for the likes of Sen. Elizabeth Warren (D-Mass) torail against the “dangers” of crypto. But the past week feels like a turning point. It started out when Sen. Rob Portman (R-Ohio) inserted a provision into the infrastructure spending bill that would increase the tax reporting requirements of cryptocurrency exchanges and capture an estimated $28 billion in new tax revenue (as a contribution to the bill’s $1 trillion-plus price tag). The biggest problem with the provision was the sweeping, catch-all language of what constitutes a “broker,” which crypto industry lawyers argued would be prone to wide interpretation, potentially capturing miners and open-source developers in an obligation to report to the Internal Revenue Service. As we argued in aneditorial on Monday, the provision as written raised the specter of draconian surveillance of people’s day-to-day transactions, would drive crypto innovation offshore and was quite probably unenforceable. Almost immediately, crypto advocacy groups including Coin Center, the Blockchain Alliance, the Digital Chamber of Commerce and the Association for Digital Asset Markets (ADAM) sprung into action. They managed to convince Senators Ron Wyden (D-Ore), Cynthia Lummis (R-Wyo.) and Pat Toomey (R-Penn.) to sponsor an amendment that would narrow the responsibility for reporting to exchanges providing custodial services to their customers and exempt miners and developers from its requirements. The bipartisan nature of that sponsorship was key. With the aid of some savvy social media campaigning byFight for the Future, these groups successfully motivated thousands of crypto enthusiasts to call, email and tweet at their senators, urging them to embrace the Wyden-Lummis-Toomey amendment. This mass action made it clear that, while the lobby groups themselves are funded by crypto enterprises, their real power comes from crypto investors and others engaged in the industry who are strongly motivated to participate in grassroots campaigns. It gave it the feel of a popular message, not just one coming from vested interests. The campaign was immediately impactful. Lawmakers from both houses of Congress and across the political divide started weighing in in support of the amendment and criticizing the original provision as a threat to American leadership in innovation and as a breach of privacy. Even Portman himself acknowledged that the Senate should look at tweaking the provision’s language to remove its ambiguities. His first formal attempt to fix it – a competing amendment co-sponsored with Senators Mark Warner (D-Va.) and Kyrsten Sinema (D-Ariz.) in line with the White House and Treasury Department’s wishes – arguably did more harm than good as it tried to distinguish between proof-of-work and proof-of-stake in a clumsy attempt to keep developers of the latter within the purview of the law. But eventually, the three of them reached a deal with Wyden, Lummis and Toomey, drafting a new amendment Monday that all six senators were happy with and that crypto advocacy groups such as Coin Center said they could support. Just getting to that point was an impressive achievement for the crypto community. What happened next was almost comical. Put to a consent vote requiring 100% approval, the new amendment won the support of 99 out of 100 senators. The holdout was Richard Selby, a Republican representing Alabama. He refused to sign unless an additional $50 billion defense contracting provision was added to the bill. That was rejected by Sen. Bernie Sanders (I-Vt.), and so the do-or-die amendment vote failed, which meant the bill’s original crypto provision remained intact, despite universal recognition of its problematic wording. (Shelby even acknowledged that it was flawed.) Many in the crypto community speculated that Shelby was more motivated by protecting the interests of his Wall Street donors than the defense industry. After 35 years in the Senate, he is due to retire in 2022,feeding a conspiracy theorythat, in doing the anti-crypto bidding of bankers, he was paving the way for his staffers to get jobs on the Street when he leaves. Whether true or not, the image of a white, elderly man who has occupied his office since the Cold War petulantly refusing to support sensible legislation that’s pro-innovation and designed to maximize long-term tax revenues, all because of his own narrow, special interests, is just what crypto needs. Juxtaposed against the grassroots campaigning of tens of thousands of crypto enthusiasts around the country, many of them many generations younger than Shelby, his stubborn resistance has become the perfect image of the old guard resisting change to protect its own interests. It speaks directly to the very problem of centralized gatekeepers that Bitcoin and other blockchain technologies seek to get around. If crypto advocates need an image with which to illustrate that problem, what could be better than that of an aged, out-of-touch senator, captured by corporate interests, blocking the wishes of every other senator. In this case, he is literally “The 1%.” Now, as the fight over the bill goes to the House of Representatives, the community is rightfully invigorated. Sure, there’ll be plenty of resistance from other self-interested congressmen, which means this stupidly worded crypto provision could yet still become law. But even if that happens, the moral victory has been won. The once fringe-dwelling crypto community finds itself legitimized, which will eventually result in a policy environment that is constructive to the industry. The plot has changed, with a conclusion that looks far more friendly to the industry than that which its opponents have wanted to write. We’re in the midst of a mania, a mania for pudgy penguins, crypto punk and bored apes. I talk, of course, of non-fungible tokens. Trading volumes on the NFT marketplace OpenSea is the best way to represent this mania. Check this chart that CoinDesk’s Shuai Hao created from data provided by Dune Analytics. Soaring August volumes on OpenSea show that the NFT craze still has legs. When NFT prices went sky-high earlier this year, only to fall fast, many observers said the market was all hype, but these numbers suggest otherwise. What matters now is less so the prices and more so the volumes. This is not to say that prices aren’t getting elevated too. We’re not talking about numbers like $69.3 million that Beeple’s “The First 5,000 Days” fetched in March. But the 400ether($1.3 million) that someone paid forthis image from the Bored Ape Yacht Clubseries is hardly chump change. • 50 Years After Bretton Woods, the US Dollar’s Throne Is in Play • What Blockchain Oracles Do Not See \|\| Puerto Rico: una isla con impuestos bajos donde el ecosistema cripto prospera: La última media hora del viaje de regreso de Andrew Keys desde Manhattan a la oficina de ConsenSys en Brooklyn, Nueva York, fue una experiencia transformadora. El padre fundador de la blockchain Ethereum soñó con cómo la cadena de bloques podría mejorar el mundo —desde la digitalización del dinero hasta la descentralización de la web—, antes de salir de un vagón de metro en una mañana gris de invierno. Ahora prefiere llamar desde un paraíso tropical. Keys se mudó a Puerto Rico en enero de 2018, durante un punto álgido del anterior momento alcista del mercado cripto. Formó parte del grupo de primeros adoptantes de criptomonedas que buscaban aprovechar los generosos incentivos fiscales de la isla. Fue una tendencia que en su díasimbolizólos excesos de la industria blockchain, un movimiento que se asentó durante el mercado bajista y que ahora está volviendo a aparecer. Read this article inEnglish. Related:Living in Puerto Rico, Where the Taxes Are Low and Crypto Thrives La razón es tan clara como las aguas de la isla: Puerto Rico es un paraíso fiscal. Eso es cierto para todo el mundo, pero el enfoque no intervencionista de ese territorio sobre las ganancias de capital, los ingresos y los impuestos a las empresas es justo lo que los pro-capitalistas y escépticos del estado buscan en una residencia. Llámelo simpatía por las criptomonedas, con la ventaja de poder conservar el pasaporte estadounidense. La última avalancha de emigrantes cripto hacia la isla es la muestra de que el traslado significa un negocio. Pantera, uno de los fondos de cobertura más seguidos en el segmento cripto, se ha trasladado a San Juan. También lo han hecho CoinMint, un gran minero de bitcoins; SuperRare, una consolidada plataforma de tokens no fungibles (NFT); y la legendaria y poderosa pareja cripto conformada por Amanda y Sam Cassatt, ex-ejecutivos de ConsenSys convertidos en gurú del marketing e inversor de capital de riesgo, respectivamente. Hay hombres de dinero, programadores freelance y quienes prueban suerte en el ultramoderno negocio de las apuestas deETH. Coral DeFi —una plataforma de gestión de inversiones—, Dex Grid —una startup de energía descentralizada— y el protocolo definanzas descentralizadas(DeFI) BarnBridge surgieron de la nada en Puerto Rico. Y son más que bienvenidos: en 2012 Puerto Rico aprobó dos leyes, la Ley 20 y la Ley 22, destinadas a atraer a empresarios y corporaciones. La Ley 20 estableció un impuesto del 4% para las empresas exportadoras de servicios —consultoría de blockchain, por ejemplo— desde la isla. Related:By Taxing Crypto, the US Government Has Accepted It’s Here to Stay No obstante, la verdadera atracción es la Ley 22. Aunque oficialmente forma parte de Estados Unidos, la isla se ha aislado del código fiscal de ese país y exime a sus residentes de los impuestos sobre las ganancias de capital. Esto la convierte en el único lugar del territorio estadounidense en donde los ingresos por inversiones, intereses y dividendos no están sujetos a impuestos. Todo lo que hay que hacer es pasar 183 días al año en una isla conocida por sus playas blancas como perlas y sus rones oscuros (residir en un barco dentro de las aguas territoriales también sirve). “Yo no lo llamaría una laguna jurídica”, dijo Shehan Chandrasekera, contador público y cofundador de Column Tax. “No creo que sea algo oculto. Puerto Rico y otros paraísos fiscales son lugares comúnmente nombrados entre la comunidad de individuos de alto patrimonio.” Numerosas jurisdicciones —muchas de ellas paraísos tropicales— compiten por el tesoro ofreciendo impuestos bajos o nulos. Algunas, como El Salvador, atraen directamente a la comunidadbitcoin. Pero sólo Puerto Rico, que está más cerca de Caracas que de Miami, ofrece a los residentes una forma fácil de mantener la ciudadanía estadounidense. Eso no significa que se encuentren trajes deambulando por las orillas de arena: al fin y al cabo, se trata de cripto. Incluso cuando Keys tomaba el tren L llevaba vaqueros y camiseta. Pero el nuevo movimiento de inmigración está más orientado al sector corporativo que el anterior, aunque sólo sea como reacción ante las pasadas críticas de querer establecer en Puerto Rico una “isla de blockchain”. En 2017 la exestrella infantil y candidato presidencial Brock Pierce presentó al mundo tanto la plataforma de contratos inteligentesEOScomo la idea de una cripto-casa llamada “Puertopia.” Estos últimos planes llamaron la atención de los medios de comunicación, y por una buena razón: Pierce y su equipo compraron hoteles, iglesias e incluso un antiguo hospital infantil para albergar su entorno cripto. Existían planes para constituir una ciudad. Aunque los ricos han explotado durante mucho tiempo el sistema de evasión de impuestos de Puerto Rico, fue Pierce quien realmente introdujo el concepto en el mundo cripto. “Brock sigue siendo el número uno, por la cantidad de gente que tiene en su red, la cantidad de viajes que hace y la influencia que tiene en la comunidad”, dijo por teléfono desde San Juan Pedro Rivera, fundador de Crypto Mondays. A cambio de pagar muy pocos impuestos, estos cripto-ricos —en su mayoría hombres, al menos— reinvertirían su capital en Puerto Rico. Ese siempre ha sido el objetivo implícito de cualquier política fiscal favorable a las empresas, y con Pierce se convirtió en unapromesa explícita. Y se hizo aún más real tras el huracán María, que devastó la ya frágil economía e infraestructura de la isla. Pierce, quien ha prometido donar su multimillonaria fortuna en parte para apoyar a la patria que ha elegido, lanzó esfuerzos de reconstrucción en la vida real y dentro de la cadena (on-chain). Es difícil juzgar el impacto de ese trabajo. Se gastó dinero real, pero no fue el renacimiento anunciado. (Pierce no respondió a las múltiples peticiones de comentarios para este reportaje). Por supuesto, la grave recesión del mercado —y más tarde la pandemia mundial— desbarató muchos de los planes más descabellados de reconstrucción. Pero nunca estuvo claro qué significaba reinventar la economía digital de Puerto Rico. O si se quería. “La gente no tiene luz, electricidad, internet… sus techos tienen goteras”, dijo Rivera, quien emigró del Bronx en 2017. “No les importa el cripto, hermano”. Si la riqueza cripto tuvo algún efecto tangible en la recuperación de la isla, probablemente se hizo a nivel individual o fue demasiado local para ser notado, dijo. Rivera, por su parte, afirmó que ayudó a recaudar $27.000 para financiar el trabajo en el techo de Poet’s Passage, un lugar de referencia local donde se celebran reuniones semanales de cripto. Recientemente, cerró una ronda de financiación de $100.000 respaldada por la comunidad de Crypto Monday para regalar billetera precargadas con $10 en criptomonedas a miles de niños de la organización sin fines de lucro Boys & Girls Clubs. “He visto un montón de puertorriqueños que han hecho dinero en cripto invirtiendo en ello”, dijo. ¿Pero qué ocurre con las empresas del sector y la creación de empleos bien remunerados para los habitantes de la isla? “Todavía no hemos sido capaces de hacer que eso florezca realmente”, dijo. Para algunos, elvaporware, la evasión de impuestos, la transformación de unmonasterio en un hotel boutique, todo se resume en una cosa: la explotación. La intelectual y escritora canadiense de izquierdas Naomi Klein analizó la situación y la llamó “criptocolonialismo”; Jillian Crandall, investigadora del Instituto Politécnico Rensselaer, la calificó como una forma perversa del “capitalismo del desastre”. CoinDesk publicó un informe en el que se preguntaba si Puerto Rico podría sobrevivir a ser el “eterno patio de recreo”, la aproximada traducción al latín del término “Puertopia”. “Si no fuera por el hecho de que Puerto Rico es un Estado Libre Asociado de Estados Unidos, el proyecto [Puertopia] se parecería de manera exacta al colonialismo: la política o práctica de adquirir el control político total o parcial de otro país, ocuparlo con colonos y explotarlo económicamente. Espera… No, en realidad sigue siendo colonialismo”, escribió Bailey Reutzel, de CoinDesk,en 2018. Es un legado difícil de superar. Habían pasado cuatro semanas de unas vacaciones originariamente de una semana en el Caribe cuando Keiko Yoshino se dio cuenta de que no quería irse. Voló de vuelta a Washington, D.C., donde trabajaba en el sector público, para empacar sus pertenencias y atar cabos sueltos. Llegó a San Juan con dos maletas y un nuevo título: directora ejecutiva de la Asociación de Comercio de Blockchain en Puerto Rico. “Si me hubieras preguntado en diciembre, habría dicho: ‘Bitcoin, eso es como el dinero imaginario, ¿no?’”, dijo. Pero en Puerto Rico todo encajó, y se enamoró de la tecnología y de la isla. “Es un ambiente. Es la energía… Es muy distinto a lo que esperaba”, dijo. “Aquí es muy diferente. Valores diferentes, prioridades diferentes”. Yoshino no es la primera persona en la que se piensa cuando se habla de cripto y Puerto Rico. No es rica en criptomonedas y no está buscando crear un colectivo anarcocapitalista. Ayudó a fundar la asociación blockchain para apoyar a la comunidad cripto local y puso a trabajar sus años de experiencia en el gobierno. Paga sus cuentas, pero no se hace rica. Pero eso no impide que la gente la ataque. “En el pasado estuve en las redes sociales: escribieron mal mi nombre, me llamaron una cripto colonizadora”, dijo. Como una recién llegada al sector, considera que la idea de que las startups de blockchain son usurpadoras malévolas es tan irrisoria como la de que van a revolucionar la isla en breve. “Esa idea está desconectada de la realidad”, dice. En su trabajo de día está organizando una conferencia para este invierno. Los fines de semana juega al voleibol. Mencionó a un miembro de la asociación, Raincoat: una empresa de seguros que está utilizando la tecnología blockchain para ayudar a desembolsar pagos de seguros después de huracanes. Desde su punto de vista, el programa de incentivos fiscales ha ayudado mucho al país, pero no todo el mundo está de acuerdo. “Es un poco enfermizo cómo las corporaciones que están allí para aprovechar el impuesto a la exportación del 4% no hacen absolutamente nada para mejorar la economía local”, dijo un trader de criptomonedas que se hace llamar “PVKT” en Reddit y pidió permanecer bajo su seudónimo. Se mudó allí en 2019, principalmente por los beneficios fiscales, antes de repatriarse. Viviendo en una ciudad turística dos años después del huracán María se enfrentó a apagones itinerantes que “no eran muy propicios para el comercio”. También estaba la pobreza extrema que se veía: las casas de hormigón, las infraestructuras en ruinas, la falta de agua o de servicios básicos. Era difícil cuadrar su estilo de vida y el de quienes le rodeaban con la experiencia de la población local. “Se cambia mucho por los incentivos. Si lo único que te preocupa es el dinero y nada más, entonces puede que te convenga”, dijo PVKT. JSON, un usuario de Twitter con ese seudónimo, también planeaba mudarse a Puerto Rico antes de enfrentarse a un dilema moral similar. “Cuando lo analizo en profundidad, hay muchas cosas que no son deseables. La gente rica se muda allí pero hace poco para contribuir a la economía local. La gente de la isla es muy amable, pero algunos sienten que se aprovechan de ellos”, dijo. Si existe una comunidad cripto en Puerto Rico, es probable que se haya desarrollado debido al principio de proximidad. La mayoría de los cripto expatriados con los que hablé vivían en los mismos barrios de San Juan o Dorado, un enclave costero rico. Hay restaurantes de categoría mundial en donde los anfitriones hablan inglés y colegios privados a los que enviar a sus hijos. “Lo que ocurre es que hay una gran concentración de estas personas en zonas pequeñas”, dijo Rivera. Aunque vive en un barrio mayoritariamente hispanohablante, prefiere relacionarse con la clase alta. “Todos vamos a los mismos sitios. No hay tantos lugares de alto nivel en Puerto Rico”. Eso no es necesariamente algo malo: aunque los ricos se libren de pagar impuestos sobre las plusvalías, siguen contribuyendo al Estado. Keys señaló que paga el impuesto de sociedades, el impuesto sobre la propiedad y el impuesto sobre las ventas. “Hay infinidad de impuestos que la gente seguirá teniendo que pagar. Aunque potencialmente más bajos”, dijo. A veces, los expatriados se han enfrentado a más presión por su decisión de mudarse a Puerto Rico que por apostar por el dinero descentralizado de internet. Pero, en cierto sentido, mudarse al extranjero para escapar de la carga fiscal es similar a salirse del sistema monetario actual a través de las criptomonedas. Ambas son formas de dejar atrás al estado e intentar construir un sistema alternativo. “Nadie va a pagar todos esos impuestos”, dijo Rivera sobre la factura fiscal comparativamente alta que le esperaba si se hubiera quedado en el Bronx. “Si tienes la oportunidad de no pagar, no es que nuestro gobierno necesite el dinero, hermano. Pueden imprimir dinero cuando quieran”. • Inversores institucionales regresan a bitcoin a pesar de posibles impuestos para las criptomonedas en Estados Unidos • US Senate Passes $3.5T Budget Plan \|\| Puerto Rico: una isla con impuestos bajos donde el ecosistema cripto prospera: La última media hora del viaje de regreso de Andrew Keys desde Manhattan a la oficina de ConsenSys en Brooklyn, Nueva York, fue una experiencia transformadora. El padre fundador de la blockchain Ethereum soñó con cómo la cadena de bloques podría mejorar el mundo —desde la digitalización del dinero hasta la descentralización de la web—, antes de salir de un vagón de metro en una mañana gris de invierno. Ahora prefiere llamar desde un paraíso tropical. Keys se mudó a Puerto Rico en enero de 2018, durante un punto álgido del anterior momento alcista del mercado cripto. Formó parte del grupo de primeros adoptantes de criptomonedas que buscaban aprovechar los generosos incentivos fiscales de la isla. Fue una tendencia que en su día simbolizó los excesos de la industria blockchain, un movimiento que se asentó durante el mercado bajista y que ahora está volviendo a aparecer. Read this article in English . Related: Living in Puerto Rico, Where the Taxes Are Low and Crypto Thrives La razón es tan clara como las aguas de la isla: Puerto Rico es un paraíso fiscal. Eso es cierto para todo el mundo, pero el enfoque no intervencionista de ese territorio sobre las ganancias de capital, los ingresos y los impuestos a las empresas es justo lo que los pro-capitalistas y escépticos del estado buscan en una residencia. Llámelo simpatía por las criptomonedas, con la ventaja de poder conservar el pasaporte estadounidense. La última avalancha de emigrantes cripto hacia la isla es la muestra de que el traslado significa un negocio. Pantera, uno de los fondos de cobertura más seguidos en el segmento cripto, se ha trasladado a San Juan. También lo han hecho CoinMint, un gran minero de bitcoins; SuperRare, una consolidada plataforma de tokens no fungibles (NFT); y la legendaria y poderosa pareja cripto conformada por Amanda y Sam Cassatt, ex-ejecutivos de ConsenSys convertidos en gurú del marketing e inversor de capital de riesgo, respectivamente. Story continues Hay hombres de dinero, programadores freelance y quienes prueban suerte en el ultramoderno negocio de las apuestas de ETH . Coral DeFi —una plataforma de gestión de inversiones—, Dex Grid —una startup de energía descentralizada— y el protocolo de finanzas descentralizadas (DeFI) BarnBridge surgieron de la nada en Puerto Rico. Y son más que bienvenidos: en 2012 Puerto Rico aprobó dos leyes, la Ley 20 y la Ley 22, destinadas a atraer a empresarios y corporaciones. La Ley 20 estableció un impuesto del 4% para las empresas exportadoras de servicios —consultoría de blockchain, por ejemplo— desde la isla. Related: By Taxing Crypto, the US Government Has Accepted It’s Here to Stay No obstante, la verdadera atracción es la Ley 22. Aunque oficialmente forma parte de Estados Unidos, la isla se ha aislado del código fiscal de ese país y exime a sus residentes de los impuestos sobre las ganancias de capital. Esto la convierte en el único lugar del territorio estadounidense en donde los ingresos por inversiones, intereses y dividendos no están sujetos a impuestos. Todo lo que hay que hacer es pasar 183 días al año en una isla conocida por sus playas blancas como perlas y sus rones oscuros (residir en un barco dentro de las aguas territoriales también sirve). “Yo no lo llamaría una laguna jurídica”, dijo Shehan Chandrasekera, contador público y cofundador de Column Tax. “No creo que sea algo oculto. Puerto Rico y otros paraísos fiscales son lugares comúnmente nombrados entre la comunidad de individuos de alto patrimonio.” Numerosas jurisdicciones —muchas de ellas paraísos tropicales— compiten por el tesoro ofreciendo impuestos bajos o nulos. Algunas, como El Salvador, atraen directamente a la comunidad bitcoin . Pero sólo Puerto Rico, que está más cerca de Caracas que de Miami, ofrece a los residentes una forma fácil de mantener la ciudadanía estadounidense. Eso no significa que se encuentren trajes deambulando por las orillas de arena: al fin y al cabo, se trata de cripto. Incluso cuando Keys tomaba el tren L llevaba vaqueros y camiseta. Pero el nuevo movimiento de inmigración está más orientado al sector corporativo que el anterior, aunque sólo sea como reacción ante las pasadas críticas de querer establecer en Puerto Rico una “isla de blockchain”. Puertopia para siempre En 2017 la exestrella infantil y candidato presidencial Brock Pierce presentó al mundo tanto la plataforma de contratos inteligentes EOS como la idea de una cripto-casa llamada “ Puertopia .” Estos últimos planes llamaron la atención de los medios de comunicación, y por una buena razón: Pierce y su equipo compraron hoteles, iglesias e incluso un antiguo hospital infantil para albergar su entorno cripto. Existían planes para constituir una ciudad. Aunque los ricos han explotado durante mucho tiempo el sistema de evasión de impuestos de Puerto Rico, fue Pierce quien realmente introdujo el concepto en el mundo cripto. “Brock sigue siendo el número uno, por la cantidad de gente que tiene en su red, la cantidad de viajes que hace y la influencia que tiene en la comunidad”, dijo por teléfono desde San Juan Pedro Rivera, fundador de Crypto Mondays. A cambio de pagar muy pocos impuestos, estos cripto-ricos —en su mayoría hombres, al menos— reinvertirían su capital en Puerto Rico. Ese siempre ha sido el objetivo implícito de cualquier política fiscal favorable a las empresas, y con Pierce se convirtió en una promesa explícita . Y se hizo aún más real tras el huracán María, que devastó la ya frágil economía e infraestructura de la isla. Pierce, quien ha prometido donar su multimillonaria fortuna en parte para apoyar a la patria que ha elegido, lanzó esfuerzos de reconstrucción en la vida real y dentro de la cadena (on-chain). Es difícil juzgar el impacto de ese trabajo. Se gastó dinero real, pero no fue el renacimiento anunciado. (Pierce no respondió a las múltiples peticiones de comentarios para este reportaje). Por supuesto, la grave recesión del mercado —y más tarde la pandemia mundial— desbarató muchos de los planes más descabellados de reconstrucción. Pero nunca estuvo claro qué significaba reinventar la economía digital de Puerto Rico. O si se quería. “La gente no tiene luz, electricidad, internet… sus techos tienen goteras”, dijo Rivera, quien emigró del Bronx en 2017. “No les importa el cripto, hermano”. Si la riqueza cripto tuvo algún efecto tangible en la recuperación de la isla, probablemente se hizo a nivel individual o fue demasiado local para ser notado, dijo. Rivera, por su parte, afirmó que ayudó a recaudar $27.000 para financiar el trabajo en el techo de Poet’s Passage, un lugar de referencia local donde se celebran reuniones semanales de cripto. Recientemente, cerró una ronda de financiación de $100.000 respaldada por la comunidad de Crypto Monday para regalar billetera precargadas con $10 en criptomonedas a miles de niños de la organización sin fines de lucro Boys & Girls Clubs. “He visto un montón de puertorriqueños que han hecho dinero en cripto invirtiendo en ello”, dijo. ¿Pero qué ocurre con las empresas del sector y la creación de empleos bien remunerados para los habitantes de la isla? “Todavía no hemos sido capaces de hacer que eso florezca realmente”, dijo. Para algunos, el vaporware , la evasión de impuestos, la transformación de un monasterio en un hotel boutique , todo se resume en una cosa: la explotación. La intelectual y escritora canadiense de izquierdas Naomi Klein analizó la situación y la llamó “criptocolonialismo”; Jillian Crandall, investigadora del Instituto Politécnico Rensselaer, la calificó como una forma perversa del “capitalismo del desastre”. CoinDesk publicó un informe en el que se preguntaba si Puerto Rico podría sobrevivir a ser el “eterno patio de recreo”, la aproximada traducción al latín del término “Puertopia”. “Si no fuera por el hecho de que Puerto Rico es un Estado Libre Asociado de Estados Unidos, el proyecto [Puertopia] se parecería de manera exacta al colonialismo: la política o práctica de adquirir el control político total o parcial de otro país, ocuparlo con colonos y explotarlo económicamente. Espera… No, en realidad sigue siendo colonialismo”, escribió Bailey Reutzel, de CoinDesk, en 2018 . Es un legado difícil de superar. Creando una isla blockchain Habían pasado cuatro semanas de unas vacaciones originariamente de una semana en el Caribe cuando Keiko Yoshino se dio cuenta de que no quería irse. Voló de vuelta a Washington, D.C., donde trabajaba en el sector público, para empacar sus pertenencias y atar cabos sueltos. Llegó a San Juan con dos maletas y un nuevo título: directora ejecutiva de la Asociación de Comercio de Blockchain en Puerto Rico. “Si me hubieras preguntado en diciembre, habría dicho: ‘Bitcoin, eso es como el dinero imaginario, ¿no?’”, dijo. Pero en Puerto Rico todo encajó, y se enamoró de la tecnología y de la isla. “Es un ambiente. Es la energía… Es muy distinto a lo que esperaba”, dijo. “Aquí es muy diferente. Valores diferentes, prioridades diferentes”. Yoshino no es la primera persona en la que se piensa cuando se habla de cripto y Puerto Rico. No es rica en criptomonedas y no está buscando crear un colectivo anarcocapitalista. Ayudó a fundar la asociación blockchain para apoyar a la comunidad cripto local y puso a trabajar sus años de experiencia en el gobierno. Paga sus cuentas, pero no se hace rica. Pero eso no impide que la gente la ataque. “En el pasado estuve en las redes sociales: escribieron mal mi nombre, me llamaron una cripto colonizadora”, dijo. Como una recién llegada al sector, considera que la idea de que las startups de blockchain son usurpadoras malévolas es tan irrisoria como la de que van a revolucionar la isla en breve. “Esa idea está desconectada de la realidad”, dice. En su trabajo de día está organizando una conferencia para este invierno. Los fines de semana juega al voleibol. Mencionó a un miembro de la asociación, Raincoat: una empresa de seguros que está utilizando la tecnología blockchain para ayudar a desembolsar pagos de seguros después de huracanes. Desde su punto de vista, el programa de incentivos fiscales ha ayudado mucho al país, pero no todo el mundo está de acuerdo. “Es un poco enfermizo cómo las corporaciones que están allí para aprovechar el impuesto a la exportación del 4% no hacen absolutamente nada para mejorar la economía local”, dijo un trader de criptomonedas que se hace llamar “PVKT” en Reddit y pidió permanecer bajo su seudónimo. Se mudó allí en 2019, principalmente por los beneficios fiscales, antes de repatriarse. Viviendo en una ciudad turística dos años después del huracán María se enfrentó a apagones itinerantes que “no eran muy propicios para el comercio”. También estaba la pobreza extrema que se veía: las casas de hormigón, las infraestructuras en ruinas, la falta de agua o de servicios básicos. Era difícil cuadrar su estilo de vida y el de quienes le rodeaban con la experiencia de la población local. “Se cambia mucho por los incentivos. Si lo único que te preocupa es el dinero y nada más, entonces puede que te convenga”, dijo PVKT. JSON, un usuario de Twitter con ese seudónimo, también planeaba mudarse a Puerto Rico antes de enfrentarse a un dilema moral similar. “Cuando lo analizo en profundidad, hay muchas cosas que no son deseables. La gente rica se muda allí pero hace poco para contribuir a la economía local. La gente de la isla es muy amable, pero algunos sienten que se aprovechan de ellos”, dijo. Si existe una comunidad cripto en Puerto Rico, es probable que se haya desarrollado debido al principio de proximidad. La mayoría de los cripto expatriados con los que hablé vivían en los mismos barrios de San Juan o Dorado, un enclave costero rico. Hay restaurantes de categoría mundial en donde los anfitriones hablan inglés y colegios privados a los que enviar a sus hijos. “Lo que ocurre es que hay una gran concentración de estas personas en zonas pequeñas”, dijo Rivera. Aunque vive en un barrio mayoritariamente hispanohablante, prefiere relacionarse con la clase alta. “Todos vamos a los mismos sitios. No hay tantos lugares de alto nivel en Puerto Rico”. Eso no es necesariamente algo malo: aunque los ricos se libren de pagar impuestos sobre las plusvalías, siguen contribuyendo al Estado. Keys señaló que paga el impuesto de sociedades, el impuesto sobre la propiedad y el impuesto sobre las ventas. “Hay infinidad de impuestos que la gente seguirá teniendo que pagar. Aunque potencialmente más bajos”, dijo. A veces, los expatriados se han enfrentado a más presión por su decisión de mudarse a Puerto Rico que por apostar por el dinero descentralizado de internet. Pero, en cierto sentido, mudarse al extranjero para escapar de la carga fiscal es similar a salirse del sistema monetario actual a través de las criptomonedas. Ambas son formas de dejar atrás al estado e intentar construir un sistema alternativo. “Nadie va a pagar todos esos impuestos”, dijo Rivera sobre la factura fiscal comparativamente alta que le esperaba si se hubiera quedado en el Bronx. “Si tienes la oportunidad de no pagar, no es que nuestro gobierno necesite el dinero, hermano. Pueden imprimir dinero cuando quieran”. Related Stories Inversores institucionales regresan a bitcoin a pesar de posibles impuestos para las criptomonedas en Estados Unidos US Senate Passes $3.5T Budget Plan \|\| Founder of Alleged $95M Ponzi Nabbed in Russia, 3 More Sought: Russian police officials are investigating one of the biggest alleged Ponzi schemes in the country involving cryptocurrency. One of the founders is under arrest, while others have reportedly left Russia. Victims’ losses might be up to $95 million. The company, named Finiko, offered lucrative investment options using a network of promoters who pulled in new users for referral fees. Investors were supposed to put in bitcoin and get the native token of Finiko in return. In July, Kirill Doronin, one of founders of Finiko, was arrested under fraud charges. Before the arrest, he obtained Turkish citizenship under a different name, Onur Namik. On Wednesday, Finiko’s other co-founders – Marat and Edward Sabirov and Zygmunt Zygmuntovich – were put on a wanted list by the Russian police. Related: Russia’s Financial Monitoring Agency Wants to Identify and Profile Crypto Users Edward Sabirov was also a co-founder of a firm led by Nikolay Nikiforov, a former Russian minister of communications, which planned to build homes in Kazan, the city where Finiko was founded. Now, other partners are trying to expel Sabirov from the owners’ list by court action, according to data in the Russian arbitration court system. About 100 people reported Finiko to the police, officials said, and the amount of claims totaled to around 70 million Russian rubles, or slightly less than $1 million. However, Russian business publication The Bell cited an anonymous source at the Bank of Russia that said Finiko might have accumulated up to 7 billion rubles, or close to $95 million. Money siphoned out Finiko operated between 2019 and 2021, offering investment opportunities via crypto, including a deposit service with 20-30% APY (annual percentage yield), The Bell wrote. Clients invested in bitcoin, which Finiko exchanged for its native token. In June, Russian crypto new outlet Forklog reported that Finiko halted bitcoin withdrawals from its website, only allowing users to take out the native token FNK, which lost 97% of its value in three weeks. Story continues Related: Russia’s Telecom Giant MTS Invests $11.7M in Blockchain Trade-Finance Service: Report Then, in July, Finiko stopped all withdrawals, Forklog reported , demanding that users first submit a package of documents, including their income reports, reports on the banking transactions for one year, a confirmation of tax payment for the previous year and a “recommendation letter” from their bank, among others. The Bank of Russia put Finiko on the list of entities that “have signs of a Ponzi scheme.” Sergey Mendeleev, founder of crypto exchange Garantex, believes that Finiko’s founders might have stolen even bigger amounts of money than The Bell reported, perhaps up to $1 billion. “In January, the entire Moscow [crypto market] was on fire when Finiko cashed out about $100 million in just one week,” Mendeleev said. He also pointed to a particular transaction of 1,023 BTC, which was sent, reportedly, from Finiko’s wallet in December. “There was a scandal, of course, as people are not crazy about dealing with Ponzi money,” Mendeleev said. “But then it somehow calmed down. You can’t always tell whose money you’re dealing with, and Finiko’s bitcoin still hasn’t been labeled as scam funds [by blockchain tracing systems].” Most people got involved in Finiko by word of mouth from their friends and relatives, who reaped generous referral fees for that, The Bell wrote . The same people who referred their friends might have been helping them buy crypto for the first time to invest in a lucrative venture, Mendeleev said. Russian-language crypto Telegram channel Ghost_In_The_Block wrote in July about identifying Finiko’s crypto addresses. According to the summary published by the anonymous authors, Finiko’s USDT wallet processed more than 400 million USDT. Blockchain analytics firm Crystal Blockchain identified 1.8 million USDC , 111.3 million USDT and 888 ETH tied to Finiko’s digital wallets, as well as 110 million native tokens. Kyrylo Chykhradze, product director at Crystal Blockchain, told CoinDesk that the funds were partially sent to the decentralized exchange Uniswap, as well as to some centralized exchanges. Related Stories Russia’s Hermitage to Sell Digital Copies of Art as NFTs Bank of Russia Tells Stock Exchanges to Avoid Crypto-Related Funds \|\| Founder of Alleged $95M Ponzi Nabbed in Russia, 3 More Sought: Russian police officials are investigating one of the biggest alleged Ponzi schemes in the country involving cryptocurrency. One of the founders is under arrest, while others have reportedly left Russia. Victims’ losses might be up to $95 million. The company, named Finiko, offered lucrative investment options using a network of promoters who pulled in new users for referral fees. Investors were supposed to put inbitcoinand get the native token of Finiko in return. In July, Kirill Doronin, one of founders of Finiko, wasarrestedunder fraud charges. Before the arrest, heobtained Turkish citizenshipunder a different name, Onur Namik. On Wednesday, Finiko’s other co-founders – Marat and Edward Sabirov and Zygmunt Zygmuntovich – wereput on a wanted listby the Russian police. Related:Russia’s Financial Monitoring Agency Wants to Identify and Profile Crypto Users Edward Sabirov was also aco-founderof a firm led by Nikolay Nikiforov, a former Russian minister of communications, which planned to build homes in Kazan, the city where Finiko was founded. Now, other partners are trying to expel Sabirov from the owners’ list by court action, according todatain the Russian arbitration court system. About 100 people reported Finiko to the police, officials said, and the amount of claims totaled to around 70 million Russian rubles, or slightly less than $1 million. However, Russian business publication The Bellcitedan anonymous source at the Bank of Russia that said Finiko might have accumulated up to 7 billion rubles, or close to $95 million. Finiko operated between 2019 and 2021, offering investment opportunities via crypto, including a deposit service with 20-30% APY (annual percentage yield), The Bell wrote. Clients invested in bitcoin, which Finiko exchanged for its native token. In June, Russian crypto new outlet Forklogreportedthat Finiko halted bitcoin withdrawals from its website, only allowing users to take out the native token FNK, which lost 97% of its value in three weeks. Related:Russia’s Telecom Giant MTS Invests $11.7M in Blockchain Trade-Finance Service: Report Then, in July, Finiko stopped all withdrawals, Forklogreported, demanding that users first submit a package of documents, including their income reports, reports on the banking transactions for one year, a confirmation of tax payment for the previous year and a “recommendation letter” from their bank, among others. The Bank of Russia put Finikoon the listof entities that “have signs of a Ponzi scheme.” Sergey Mendeleev, founder of crypto exchange Garantex, believes that Finiko’s founders might have stolen even bigger amounts of money than The Bell reported, perhaps up to $1 billion. “In January, the entire Moscow [crypto market] was on fire when Finiko cashed out about $100 million in just one week,” Mendeleev said. He also pointed to a particulartransactionof 1,023 BTC, which was sent, reportedly, from Finiko’s wallet in December. “There was a scandal, of course, as people are not crazy about dealing with Ponzi money,” Mendeleev said. “But then it somehow calmed down. You can’t always tell whose money you’re dealing with, and Finiko’s bitcoin still hasn’t been labeled as scam funds [by blockchain tracing systems].” Most people got involved in Finiko by word of mouth from their friends and relatives, who reaped generous referral fees for that, The Bellwrote. The same people who referred their friends might have been helping them buy crypto for the first time to invest in a lucrative venture, Mendeleev said. Russian-language crypto Telegram channel Ghost_In_The_Block wrote in July about identifying Finiko’s crypto addresses. According to thesummarypublished by the anonymous authors, Finiko’sUSDTwallet processed more than 400 million USDT. Blockchain analytics firm Crystal Blockchain identified 1.8 millionUSDC, 111.3 million USDT and 888ETHtied to Finiko’s digital wallets, as well as 110 million native tokens. Kyrylo Chykhradze, product director at Crystal Blockchain, told CoinDesk that the funds were partially sent to the decentralized exchange Uniswap, as well as to some centralized exchanges. • Russia’s Hermitage to Sell Digital Copies of Art as NFTs • Bank of Russia Tells Stock Exchanges to Avoid Crypto-Related Funds \|\| 50 Years After Bretton Woods, the US Dollar’s Throne Is in Play: This Sunday, Aug. 15, will be the 50th anniversary of the end of the Bretton Woods currency system. After World War II, major nations essentially agreed to peg their currencies to a gold-backed dollar. But by 1971, faith in the U.S. dollar was eroding, forcing President Richard Nixon to end the dollar’s convertibility to gold. This ushered in the current status quo of relatively free-floating “fiat” currencies. That long-ago decision still has major implications today. Over the past few months, massive coronavirus pandemic relief spending in the U.S. has triggered worries that faith in the dollar’s soundness could be shaken again as it was 50 years ago. The dollar’s share of central bank balance sheets is still a dominant 59%, but has been slowly declining – threatening to take with it a number ofeconomic and political advantages. David Z. Morris is CoinDesk’s chief insights columnist. This article is excerpted fromThe Node, CoinDesk’s daily roundup of the most pivotal stories in blockchain and crypto news. You can subscribe to get the fullnewsletter here. Related:Ranking the Currencies That Could Unseat the Dollar To better understand the road ahead, I’ve been examining the viability of various currencies as central bank reserves, including the euro, the Japanese yen and the Chinese yuan, as well asbitcoinor other digital instruments. That analysis will be published soon, but I wanted to hit on a few highlights of what I learned talking to currency experts. First, despite high anxiety about the yuan’s rising influence, China faces a deep, possibly unsolvable conflict between its global currency ambitions and its domestic economic agenda: The Chinese Communist Party maintains tight currency controls to encourage domestic investment, but a reserve currency must be freely tradable. Between that conundrum and the inconsistency of Chinese regulation, experts are generally skeptical that the yuan can climb much in the global reserve rankings anytime soon. Japan, meanwhile, doesn’t sell enough debt abroad for its bonds to take up a large share of global reserves. Among current options, the euro seems to be the most serious competitor to the dollar, thanks to the large eurozone economy behind it and the relatively open and responsible management of the European Central Bank. A major recent step that makes this more plausible was the ECB’s decision to issue eurozone-wide bonds to fund pandemic relief programs. Related:Money Reimagined: A Turning Point for Crypto That’s ironic given that rising global debt levels are also a pillar of the case for central banks to hold bitcoin as part of their reserves. The coronavirus has fueled a massive surge in global debt, which as of earlier this year stood at365% of global GDP. If the world were a single country, that ratio would be a five-alarm fire – especially because so much of it is held by central banks of the countries that issued the debt, which economists includingEswar Prasadargue amounts to money printing. The case for individuals to hold bitcoin rests on the idea that central banks are inevitably tempted to debase their currency through this sort of inflationary policy. The same argument could be made for central banks: that the debt of other countries presents a large and rising risk. Bitcoin, by contrast, is effectively a commodity rather than debt, making it safer from some perspectives. For now, however, bitcoin’s price volatility remains a major obstacle to national adoption. Nonetheless, interest in the idea has exploded since El Salvador first dipped its toes in. Much of that has been from countries with weak currencies, such as Argentina, where President Alberto Fernandez this week expressed a degree ofopenness to using bitcoin. This, I think, is where to watch for the next major wave of bitcoin adoption: smaller nations with troubled currencies or histories of monetary mismanagement. For them, bitcoin is something entirely novel: a store of value that’s not dependent either on their own central bank, or a potentially hostile third nation. It’s clear they’re paying attention to the possibilities. • What Blockchain Oracles Do Not See • Market Wrap: Bitcoin Slides as US Lawmakers Wrangle Over Crypto Tax Proposal \|\| 50 Years After Bretton Woods, the US Dollars Throne Is in Play: This Sunday, Aug. 15, will be the 50th anniversary of the end of the Bretton Woods currency system. After World War II, major nations essentially agreed to peg their currencies to a gold-backed dollar. But by 1971, faith in the U.S. dollar was eroding, forcing President Richard Nixon to end the dollars convertibility to gold. This ushered in the current status quo of relatively free-floating fiat currencies. That long-ago decision still has major implications today. Over the past few months, massive coronavirus pandemic relief spending in the U.S. has triggered worries that faith in the dollars soundness could be shaken again as it was 50 years ago. The dollars share of central bank balance sheets is still a dominant 59%, but has been slowly declining threatening to take with it a number of economic and political advantages. David Z. Morris is CoinDesks chief insights columnist. This article is excerpted from The Node , CoinDesks daily roundup of the most pivotal stories in blockchain and crypto news. You can subscribe to get the full newsletter here . Related: Ranking the Currencies That Could Unseat the Dollar To better understand the road ahead, Ive been examining the viability of various currencies as central bank reserves, including the euro, the Japanese yen and the Chinese yuan, as well as bitcoin or other digital instruments. That analysis will be published soon, but I wanted to hit on a few highlights of what I learned talking to currency experts. First, despite high anxiety about the yuans rising influence, China faces a deep, possibly unsolvable conflict between its global currency ambitions and its domestic economic agenda: The Chinese Communist Party maintains tight currency controls to encourage domestic investment, but a reserve currency must be freely tradable. Between that conundrum and the inconsistency of Chinese regulation, experts are generally skeptical that the yuan can climb much in the global reserve rankings anytime soon. Japan, meanwhile, doesnt sell enough debt abroad for its bonds to take up a large share of global reserves. Story continues Among current options, the euro seems to be the most serious competitor to the dollar, thanks to the large eurozone economy behind it and the relatively open and responsible management of the European Central Bank. A major recent step that makes this more plausible was the ECBs decision to issue eurozone-wide bonds to fund pandemic relief programs. Related: Money Reimagined: A Turning Point for Crypto Thats ironic given that rising global debt levels are also a pillar of the case for central banks to hold bitcoin as part of their reserves. The coronavirus has fueled a massive surge in global debt, which as of earlier this year stood at 365% of global GDP. If the world were a single country, that ratio would be a five-alarm fire especially because so much of it is held by central banks of the countries that issued the debt, which economists including Eswar Prasad argue amounts to money printing. The case for individuals to hold bitcoin rests on the idea that central banks are inevitably tempted to debase their currency through this sort of inflationary policy. The same argument could be made for central banks: that the debt of other countries presents a large and rising risk. Bitcoin, by contrast, is effectively a commodity rather than debt, making it safer from some perspectives. For now, however, bitcoins price volatility remains a major obstacle to national adoption. Nonetheless, interest in the idea has exploded since El Salvador first dipped its toes in. Much of that has been from countries with weak currencies, such as Argentina, where President Alberto Fernandez this week expressed a degree of openness to using bitcoin. This, I think, is where to watch for the next major wave of bitcoin adoption: smaller nations with troubled currencies or histories of monetary mismanagement. For them, bitcoin is something entirely novel: a store of value thats not dependent either on their own central bank, or a potentially hostile third nation. Its clear theyre paying attention to the possibilities. Related Stories What Blockchain Oracles Do Not See Market Wrap: Bitcoin Slides as US Lawmakers Wrangle Over Crypto Tax Proposal \|\| XcelPlus International exhibits at Mining Disrupt 2021, solicits partnerships with crypto miners: RENO, NV, Aug. 13, 2021 (GLOBE NEWSWIRE) -- XcelPlus International Inc. (OTC PINK: XLPID) announced today that it intends to actively pursue partnerships with crypto-mining enterprises following its participation in the Mining Disrupt 2021 show in Miami. The Mining Disrupt 2021 event took place from July 20thto 22ndin Miami, Florida. It was predominantly attended by representatives from companies in the tech, energy, and cryptocurrency mining industries. XcelPlus International Chief Executive Officer Charles Robinson expressed his excitement with the outcome of the show. “We connected with the owners and operators of many crypto-mining enterprises while we were in attendance at Mining Disrupt 2021,” said Robinson. “We are actively negotiating with several of these companies over the prospects of using our plasma gasifiers to potentially fuel their crypto-mining projects.” Crypto mining has come under fire recently due to the energy demands and excessive burning of fossil fuels, which is often perceived by the general public to be wasteful. “By using our plasma gasifiers to support their crypto mining expeditions, these mining companies will be benefiting entire communities by cleaning up landfills and clearing away unsightly waste materials,” explained Robinson. “Through these processes, they will be seen as contributing to a societal good even as they pursue wealth through their crypto mining endeavors.” In addition to partnerships with crypto miners, XcelPlus is also actively soliciting partnerships with mining rig suppliers and exploring the viability of investing in a Bitcoin mining operation of its own. “We are also working to resolve listing issues and bring our company into 15c2-11 compliance to assist investors with their financial decisions and to make our company more transparent,” stated Robinson. Forward Looking Statements Certain statements in this communication constitute “forward-looking statements” under the Private Securities Litigation Reform Act of 1995. Forward-looking statements include statements of future expectations and events, future strategic objectives, business prospects and anticipated results. Forward looking statements can often be identified by words and phrases such as “intends,” “pursue,” “will,” “can,” “moving,” “working to resolve,” “expect,” “bring,” and similar expressions and include, but are not limited to, statements regarding or relating to the company’s business plans, pursuit of partnerships with crypto mining enterprises mining rig suppliers and others, participation in the crypto-mining industry, the likelihood of our gasifiers being used in crypto-mining projects, the feasibility of using our plasma gasifiers to support crypto mining expeditions, the results of any negotiations, acceptance of and demand for our products and services, resolving listing issues, the ability of the company to comply with FINRA rules and regulations including compliance with rule 15c2-11, and the ultimate success in the marketplace of our products, services and technologies. Forward-looking statements are not guarantees of future results and are subject to known and unknown risks and uncertainties that could cause actual results to differ materially and adversely from those expressed or implied in such statements. These statements are based on management’s current views and assumptions, speak only as of the date hereof and are subject to change. We undertake no obligation to revise or update any forward-looking statements for any reason, except as required by law. Contact: Ian DouglassChief Communications [email protected] [Social Media Buzz] None available.	47047.00, 46004.48, 44695.36, 44801.19, 46717.58, 49339.18, 48905.49, 49321.65, 49546.15, 47706.12
Given the historical Bitcoin prices from the last 90 days, predict the next 10 daily closing prices. The historical prices are: 414.82, 416.73, 417.96, 420.87, 420.90, 421.44, 424.03, 423.41, 422.74, 420.35, 419.41, 421.56, 422.48, 425.19, 423.73, 424.28, 429.71, 430.57, 427.40, 428.59, 435.51, 441.39, 449.42, 445.74, 450.28, 458.55, 461.43, 466.09, 444.69, 449.01, 455.10, 448.32, 451.88, 444.67, 450.30, 446.72, 447.98, 459.60, 458.54, 458.55, 460.48, 450.89, 452.73, 454.77, 455.67, 455.67, 457.57, 454.16, 453.78, 454.62, 438.71, 442.68, 443.19, 439.32, 444.15, 445.98, 449.60, 453.38, 473.46, 530.04, 526.23, 533.86, 531.39, 536.92, 537.97, 569.19, 572.73, 574.98, 585.54, 576.60, 581.65, 574.63, 577.47, 606.73, 672.78, 704.38, 685.56, 694.47, 766.31, 748.91, 756.23, 763.78, 737.23, 666.65, 596.12, 623.98, 665.30, 665.12, 629.37, 655.28.	[Bitcoin Technical Analysis for 2016-06-27] Volume: 122134000, RSI (14-day): 53.24, 50-day EMA: 586.69, 200-day EMA: 465.25 [Wider Market Context] Gold Price: 1322.50, Gold RSI: 68.75 Oil Price: 46.33, Oil RSI: 42.80 [Recent News (last 7 days)] Chinas Cyber Spying on the U.S. Has Drastically Changed: Last year United States President Barack Obama and Chinese President Xi Jinping entered into a dubious agreement during Xis first state visit: No more hacking one anothers businesses. Military and political espionage? Fair game. Industry? Hands off. Hackers allegedly sponsored by China had been ransacking U.S. companies for economic advantage for years, as any computer forensics pro who has helped clean up one of these data breaches will tell you. The hackers goal: Intellectual property theft. With the recent truce, the heads of state agreed that their countries could break into one anothers computer networks for traditional state on state espionage, but no more hacking for profit. For skeptics, heres the shocker: The parties appear to be keeping their word--for the most part. Cybersecurity firm FireEye released a report earlier this week that found that the number of breaches by China-based groups on U.S. businesses has dropped off a cliff. The number of network compromises has not fallen to zero, but it has plummeted 90% in the past two years . Get Data Sheet , Fortune 's technology newsletter. Fortune spoke to Laura Galante, director of the threat intelligence at FireEye , as well as Kevin Mandia, the companys recently appointed CEO, about the reports findings. (Mandia makes his appearance at question 12.) Among the topics discussed: How the threat of economic espionage has changed, what this means for U.S. businesses, and whether everyone may now breathe a sigh of relief. (Spoiler: The answer is no.) Heres what the two said, edited and condensed for clarity. Fortune: This report seems to be a follow-up to Mandiants original report on Chinese economic cyberespionage from a few years ago. [Editors note: FireEye purchased Mandiant, Mandias computer forensics firm, for about $1 billion in 2014.] What does the new report find? Laura Galante: We've tracked all of these groups for years before the APT1 report that you probably remember from back in 2013. Here we found the percentage of incidents and number of incidents we've seen over time from groups that are based in China, and how thats changed. We came up with a pretty deep understanding of how we've seen President Xi undertake reforms in the military and also in the party since he came to power. We have some analysis around how he is probably centralizing and refocusing some of the cyber operations that China sponsored. We also think that widespread exposure from private sector disclosures was another impetus that really changed how Beijing was thinking about cyber operations. Finally the punitive measures--the indictments of several military officers back in 2014, and then the threat of sanctions right on the eve of President Xi coming over to the U.S--these were all factors that, in the aggregate, have really changed the way we've seen intellectual property theft conducted from China based groups. Story continues Fortune: It seemed like the key line in the report was that the attacks are less voluminous, but more focused. Galante: Thats what we're seeing. When we do see compromises--and we have seen compromises since last year--we're seeing the groups conduct a variety of different activity at different targets, not just in the U.S., but also in Japan and abroad in Europe. We're seeing compromises of networks still. What we aren't seeing is data theft at such a volume as before--back in 2013, even 2014. We're seeing that they'll go in and they'll package up data, which is something that we typically see right before they would steal it, but we haven't observed instances of data theft, per se, in 2015 and 2016. Fortune: You're still seeing intrusions and breaches, but not the actual exfiltration of data. Is that accurate? Galante: That's right. What that doesn't necessarily mean is that it's not happening. We're not seeing the actual data theft in the recent examples that we've had here, but we're still seeing the compromise. If you're able to compromise the network, get in, move laterally to different parts of the network, and see the files that you want, that's still a very effective way to get at the information you want without the level of risk and evidence left behind of actually transferring the data out of a network. Fortune: So its a shift from smashing-and-grabbing to quietly and passively surveilling? Galante: That's a way to characterize what we've seen. And I think that fits too with what's definitely a higher cost of doing business that has risen in the last three and a half years. The risk of exposure from security firms, from security researchers, which is happening left and right, and the measures that the U.S. government has taken, paint a very different picture of risk when groups are operating--whether they be sponsored by the government, by a military entity, by an intelligence agency, or simply by opportunistic entrepreneurial groups who are looking for a way into a network to find something valuable to sell. We think that the scene in China really runs the gamut in terms of different types of sponsorship. Fortune: In the report you discuss how it's hard to make out the difference between these groups. Do you have any speculation as to whom--which groups--might be the ones remaining? Is it a mix? Does it weight toward government, or toward the enterprising hacker? What is the breakdown here--is there any way to know? Galante: It's hard to give a percentage. We have examples where we've seen what we call patriotic hackers, people who are aligned with state interests, but not necessarily on the payroll. We've seen everything form the patriotic hacker to the cybercriminal to groups that act in a very regimented 9-to-5 way. We see their tools built on a schedule that parallels Chinese federal holidays. We've seen really disciplined groups that operate in a way that's hard to not see that there has to be a ton of resourcing behind it, and probably a government entity. Another aspect that we've traced for years is how long we've seen groups operate. With some groups out of China, especially the ones that have been conducting the more traditional political espionage, we've seen those groups operate for over a decade with almost the same tools and infrastructure, too. Fortune: Part of this deal between Obama and Xi was that China would stop its attacks on U.S. enterprises. Obviously there are still attacks going on, as your report says, but is there any way to know whether, in fact, the state sponsored attacks are down? Galante: It's hard to say. The network visibility that we have just shows us what's compromised. What we don't know is when data is taken. In our cases, we haven't seen data theft. But when data has been taken in the past--to know that the data has been used and given to an entity, to an industry, or to a company in an industry that can then use it to put a product on the market--that would start to fulfill the definition of what theyre getting at with this economic espionage agreement. From our side were reluctant to say that this equates to economic espionage, because we simply see one part of a much longer chain of what would equate to economic espionage. What we can say is that we're still seeing compromises into corporate networks. Fortune: You mentioned that you're not seeing the same levels of data theft now. Is that because it's not happening, or because they're eluding detection in some way? Or perhaps FireEye doesn't have the visibility to see that? Galante: I think it's a couple factors. To set the premise though, it's very rare that you see data theft happening. When we're called in to do investigations, we're frequently looking into network logs and into network activity that, on average, happened almost 200 days before. [Editors note: the average breach takes 201 days to detect, according to a recent IBM study .] When you're investigating what happened previously, you have to consider, How well does the company keep logs? How do we go back and look at that activity and see what happened outside the network? There are a variety of factors that hamper understanding when the actual data was stolen, or if it was stolen. There are other cases where we've thwarted the detected compromise before the group could go any deeper into the network. So there are a couple of different wonky factors that keep the data theft from eluding our ability to have seen it when it happened. Now one thing were seeing is these groups go in and hack data and look for specific items. With the semiconductor firms, we were seeing attackers get into the files that had the manufacturing data about semiconductors and the chemical components used in the production. They're not just getting into a network, they're able to get in and navigate to data that would be useful. So that says a little bit more about their intent. If you're able to go in and locate a project that you need, that says a little bit more about what you're interested in. Fortune: Are there any cases that seem more grey in terms of what the hackers were going after? Galante: The navigational projects were interesting. This is a grey area. GPS navigation is right in that area of not knowing if it's for military or for civilian use. Traditionally, something for military use would fall into political espionage or military espionage, something that states have done since the beginning of time, versus something like the blueprints of a green energy or a coal cleaning plant, which we've seen before. When those are taken, that's a situation where it's pretty hard to see the military application of it. In the cases that we have here, in the cases that we've seen recently, we see semiconductors, we see high-tech corporations, we've seen an aerospace company, and a logistics company. These are all arguably targets and data that could fit either a military or a civilian use. So, tough to say whether that would trend more toward economic espionage versus political. Fortune: Have you been sending this report around government quarters? Galante: We frequently give a variety of government partners a heads up when we're able to do that before a report goes live. Fortune: What has been their reaction to this? Galante: This tracks fairly well with the visibility that they've had as well. Fortune: Last year a cybersecurity firm CrowdStrike issued a report saying there had been continued intrusions on U.S. companies after the China-U.S. deal . How does the FireEye report differ? Galante: That report came out in early October. It was really a first sense that activity still continued. But there's a ton of ways to look at activity. What we're very careful to parse here is that we wanted to know when a corporate network has been entered remotely, not just when the malware or the commands to the malware in a network has been live, which was one of the main indications used in that report from October to say that activity continued. We wanted to see that a group actively went into a network, and that was the bar that we used when we made the chart that you see, and also the graph. [Editors note: See, for example, page 11 of the report .] Fortune: So whereas CrowdStrike was asking--is there malware active on the network?--your report was asking, is there remote access happening? Galante: Is there an actual compromise of a network, yes. There is always remote access happening--so, is there a remote compromise happening of a corporate network. I think we're being more specific about how we want to define a piece of this, whereas CrowdStrike was looking just generally for any sort of beaconing or indication that infrastructure or malware were still living. We wanted to see something that reasonably made us conclude that an operator is still sitting there with fingers on keyboard, sending a command and entering networks. Kevin Mandia: Robert, this is Kevin Mandia. I've actually been on the line for the past 10 minutes and just staying quiet because Laura is crushing it. I don't know what CrowdStrikes criteria is for saying compromise or not compromise. I do know that we at FireEye have over 350 incident responders, we have nearly 350 iSight intel analysts [Editors note: FireEye acquired the threat intelligence firm iSight Partners for $200 million earlier this year], and we have well over 3,000 customers where we have appliances deployed. Those are the sources for where we find these compromises. We've had our threat database in existence since 2006, so thats the scale and scope at which we operate. When I look at the all the investigations we've done and all the intel we get from iSight, that's the data were reporting on. From the observables we have here at FireEye, the activity and counterespionage intrusions from China have gone down. Fortune: Because the attacks have dropped off precipitously, it seems, does this mean U.S. companies should breathe a sigh of relief? Mandia: Well, you've still got a bunch of other threats to worry about. So the answer is you still have to safeguard yourself from rogue states, which may be less responsible than China. I've always said this: the Chinese were the most polite hackers in cyberspace. They would break in, but I don't think they had exceptionally great counter forensics, they weren't destructive, they didn't go public with the data they stole. In many ways, if you were hacked, and you knew it, and it was the Chinese that did it, you breathed a sigh of relief. If it was some other group, you had to worry about public disclosure, about extortion, about a ton of other things. So the polite hackers have narrowed their targeting. That's how I look into this. I wouldn't breathe a sigh of relief. What I do see is that public exposure of Chinese cyber espionage by the private sector as well as by government officials--potentially the indictments and all the things Laura has put in the report--all of these factors did have an impact on the scale and scope of Chinese cyber espionage against the U.S.A. I see that as a positive thing. The unfortunate reality is that you still have to build your moat of defend against the other threats that are still out there. Fortune: During one recent quarter, Dave DeWalt, who was then FireEyes CEO, said that attacks by China on U.S. companies had been decreasing. A bunch of people took issue with the statement . They said that attacks are still going on. Where does FireEye stand on that? Because it seems the report is saying that, yes, the number of attacks has decreased a lot. Mandia: Yup, we just stand by exactly what were publishing. Based on our observables, that's what we see. This isn't like the TTPs [Editors note: TTPs is cyberspeak for tools, tactics, and procedures--the idiosyncrasies of hacking methods] of Chinese cyber espionage changed over night. When we do see them, the TTPs are largely the same. There are going to be those naysayers out there who say, well, maybe FireEye is just missing it. I've been locked onto these guys virtually my whole career. I'm not convinced anyone has been responding to Chinese cyber espionage breaches longer than I have--and if there is somebody I'd like to find them. We dealt with this back when I was in the military in the '90s, and we're locked on still. The TTPs will change, but they're not surreptitious. We're not missing it. That's my opinion. Fortune: How do you persuade companies to continue to invest in cybersecurity when it seems that maybe the threats are not as drastic or immediately pressing as they might have been? Galante: I would say at this point you're taking a roll of the dice if you're a corporate entity or a government entity with strong intellectual property. Especially something that could be dual-use. Particularly, if you're in one of the many industries that's producing cutting edge R&D, you're now rolling the dice and have been for a long time, on whether you're going to be compromised. Were seeing a maturation of China's military and political means to use cyber operations. To think that the decline in activity that we're seeing now is endemic of the future would be a misread. I think what we're seeing is a period of recalculating how to go with a precision force and a focus to get exactly the access that is needed, whether for political or military gains. Fortune: What prompted this report? Mandia: We went public in 2013 with the APT1 report. The government indicts soldiers in 2014. The president and the heads of state meet and they have discussions, and what does it lead to? What we hoped it would lead to--a reduction in the targeting of the private sector. I think that's a positive result. And that's why we're really doing this--to report on a positive result. Fortune: How have things changed for you since becoming CEO? Congrats on the promotion, by the way. Mandia: Thanks, it doesn't change much at the end of the day. PR person: Lets keep off that for now. Fortune: Okay, what else is interesting--is North Korea behind the SWIFT bank hacks? Mandia: First thing I would say as a general citizen--and I don't have the data to opine one way or another--but boy, wouldn't you want to know who stole $81 million dollars from the bank of Bangladesh? Fortune: Oh yeah. Mandia: I mean if we can't pierce anonymity behind that as an international community, both behind the hack and behind the laundering of the money, don't we have a challenge here? $81 million is gone and we don't know who did it? That's not a good indicator for whether were going to catch who hacks a utility in Mississippi and shuts it down. We've got to get attribution right. If we can't get it right for Ashley Madison, fine, I get that. But if we can't get it right for stealing $81 million--that's not a good indicator. I think that's the interesting story right now. Can the international community can the pierce anonymity behind folks who steal $81 million, and if they can't, what else can they not do? Fortune: Indeed. Thanks for your time. Mandia: Take care, Robert. Fortune: You too. See original article on Fortune.com More from Fortune.com Everything You Need to Know About North Korea's Suspected Bank Blitzkrieg Senate Rejects Proposal to Expand FBI Spying Power This Ad Firm That Tracked Kids Got Smacked With a $4 Million Fine Why the Senate Will Likely Give the FBI More Spying Power After Orlando Winklevoss Brothers Expand Their Bitcoin Exchange to the U.K. \|\| China’s Cyber Spying on the U.S. Has Drastically Changed: Last year United States President Barack Obama and Chinese President Xi Jinping entered into a dubious agreement during Xi’s first state visit: No more hacking one another’s businesses. Military and political espionage? Fair game. Industry? Hands off. Hackers allegedly sponsored by China had been ransacking U.S. companies for economic advantage for years, as any computer forensics pro who has helped clean up one of these data breaches will tell you. The hackers’ goal: Intellectual property theft. With the recent truce, the heads of state agreed that their countries could break into one another’s computer networks for traditional state on state espionage, but no more hacking for profit. For skeptics, here’s the shocker: The parties appear to be keeping their word--for the most part. Cybersecurity firm FireEyereleased a reportearlier this week that found that the number of breaches by China-based groups on U.S. businesses has dropped off a cliff. The number of network compromises has not fallen to zero, but it hasplummeted 90% in the past two years. Get Data Sheet,Fortune's technology newsletter. Fortunespoke to Laura Galante, director of the threat intelligence at FireEye , as well as Kevin Mandia, the company’s recently appointed CEO, about the report’s findings. (Mandia makes his appearance at question 12.) Among the topics discussed: How the threat of economic espionage has changed, what this means for U.S. businesses, and whether everyone may now breathe a sigh of relief. (Spoiler: The answer is no.) Here’s what the two said, edited and condensed for clarity. Fortune: This report seems to be a follow-up toMandiant’s original reporton Chinese economic cyberespionage from a few years ago. [Editors note: FireEyepurchasedMandiant, Mandia’s computer forensics firm, for about $1 billion in 2014.] What does the new report find? Laura Galante: We've tracked all of these groups for years before the APT1 report that you probably remember from back in 2013. Here we found the percentage of incidents and number of incidents we've seen over time from groups that are based in China, and how that’s changed. We came up with a pretty deep understanding of how we've seen President Xi undertake reforms in the military and also in the party since he came to power. We have some analysis around how he is probably centralizing and refocusing some of the cyber operations that China sponsored. We also think that widespread exposure from private sector disclosures was another impetus that really changed how Beijing was thinking about cyber operations. Finally the punitive measures--theindictments of several military officersback in 2014, and then thethreat of sanctionsright on the eve of President Xi coming over to the U.S--these were all factors that, in the aggregate, have really changed the way we've seen intellectual property theft conducted from China based groups. Fortune: It seemed like the key line in the report was that the attacks are less voluminous, but more focused. Galante: That’s what we're seeing. When we do see compromises--and we have seen compromises since last year--we're seeing the groups conduct a variety of different activity at different targets, not just in the U.S., but also in Japan and abroad in Europe. We're seeing compromises of networks still. What wearen'tseeing is data theft at such a volume as before--back in 2013, even 2014. We're seeing that they'll go in and they'll package up data, which is something that we typically see right before they would steal it, but we haven't observed instances of data theft, per se, in 2015 and 2016. Fortune: You're still seeing intrusions and breaches, but not the actual exfiltration of data. Is that accurate? Galante: That's right. What that doesn't necessarily mean is that it's not happening. We're not seeing the actual data theft in the recent examples that we've had here, but we're still seeing the compromise. If you're able to compromise the network, get in, move laterally to different parts of the network, and see the files that you want, that's still a very effective way to get at the information you want without the level of risk and evidence left behind of actually transferring the data out of a network. Fortune: So it’s a shift from smashing-and-grabbing to quietly and passively surveilling? Galante: That's a way to characterize what we've seen. And I think that fits too with what's definitely a higher cost of doing business that has risen in the last three and a half years. The risk of exposure from security firms, from security researchers, which is happening left and right, and the measures that the U.S. government has taken, paint a very different picture of risk when groups are operating--whether they be sponsored by the government, by a military entity, by an intelligence agency, or simply by opportunistic entrepreneurial groups who are looking for a way into a network to find something valuable to sell. We think that the scene in China really runs the gamut in terms of different types of sponsorship. Fortune: In the report you discuss how it's hard to make out the difference between these groups. Do you have any speculation as to whom--which groups--might be the ones remaining? Is it a mix? Does it weight toward government, or toward the enterprising hacker? What is the breakdown here--is there any way to know? Galante: It's hard to give a percentage. We have examples where we've seen what we call patriotic hackers, people who are aligned with state interests, but not necessarily on the payroll. We've seen everything form the patriotic hacker to the cybercriminal to groups that act in a very regimented 9-to-5 way. We see their tools built on a schedule that parallels Chinese federal holidays. We've seen really disciplined groups that operate in a way that's hard to not see that there has to be a ton of resourcing behind it, and probably a government entity. Another aspect that we've traced for years is how long we've seen groups operate. With some groups out of China, especially the ones that have been conducting the more traditional political espionage, we've seen those groups operate for over a decade with almost the same tools and infrastructure, too. Fortune: Part of this deal between Obama and Xi was that China would stop its attacks on U.S. enterprises. Obviously there are still attacks going on, as your report says, but is there any way to know whether, in fact, the state sponsored attacks are down? Galante: It's hard to say. The network visibility that we have just shows us what's compromised. What we don't know is when data is taken. In our cases, we haven't seen data theft. But when data has been taken in the past--to know that the data has been used and given to an entity, to an industry, or to a company in an industry that can then use it to put a product on the market--that would start to fulfill the definition of what they’re getting at with this economic espionage agreement. From our side we’re reluctant to say that this equates to economic espionage, because we simply see one part of a much longer chain of what would equate to economic espionage. What we can say is that we're still seeing compromises into corporate networks. Fortune: You mentioned that you're not seeing the same levels of data theft now. Is that because it's not happening, or because they're eluding detection in some way? Or perhaps FireEye doesn't have the visibility to see that? Galante: I think it's a couple factors. To set the premise though, it's very rare that you see data theft happening. When we're called in to do investigations, we're frequently looking into network logs and into network activity that, on average, happened almost 200 days before.[Editor’s note: the average breach takes 201 days to detect, according to arecent IBM study.]When you're investigating what happened previously, you have to consider, How well does the company keep logs? How do we go back and look at that activity and see what happened outside the network? There are a variety of factors that hamper understanding when the actual data was stolen, or if it was stolen. There are other cases where we've thwarted the detected compromise before the group could go any deeper into the network. So there are a couple of different wonky factors that keep the data theft from eluding our ability to have seen it when it happened. Now one thing we’re seeing is these groups go in and hack data and look for specific items. With the semiconductor firms, we were seeing attackers get into the files that had the manufacturing data about semiconductors and the chemical components used in the production. They're not just getting into a network, they're able to get in and navigate to data that would be useful. So that says a little bit more about their intent. If you're able to go in and locate a project that you need, that says a little bit more about what you're interested in. Fortune: Are there any cases that seem more grey in terms of what the hackers were going after? Galante: The navigational projects were interesting. This is a grey area. GPS navigation is right in that area of not knowing if it's for military or for civilian use. Traditionally, something for military use would fall into political espionage or military espionage, something that states have done since the beginning of time, versus something like the blueprints of a green energy or a coal cleaning plant, which we've seen before. When those are taken, that's a situation where it's pretty hard to see the military application of it. In the cases that we have here, in the cases that we've seen recently, we see semiconductors, we see high-tech corporations, we've seen an aerospace company, and a logistics company. These are all arguably targets and data that could fit either a military or a civilian use. So, tough to say whether that would trend more toward economic espionage versus political. Fortune: Have you been sending this report around government quarters? Galante: We frequently give a variety of government partners a heads up when we're able to do that before a report goes live. Fortune: What has been their reaction to this? Galante: This tracks fairly well with the visibility that they've had as well. Fortune: Last year a cybersecurity firm CrowdStrike issued a report saying there had been continued intrusions on U.S. companiesafter the China-U.S. deal. How does the FireEye report differ? Galante: That report came out in early October. It was really a first sense that activity still continued. But there's a ton of ways to look at activity. What we're very careful to parse here is that we wanted to know when a corporate network has been entered remotely, not just when the malware or the commands to the malware in a network has been live, which was one of the main indications used in that report from October to say that activity continued. We wanted to see that a group actively went into a network, and that was the bar that we used when we made the chart that you see, and also the graph.[Editor’s note:See, for example, page 11 of the report.] Fortune: So whereas CrowdStrike was asking--is there malware active on the network?--your report was asking, is there remote access happening? Galante: Is there an actual compromise of a network, yes. There is always remote access happening--so, is there a remote compromise happening of a corporate network. I think we're being more specific about how we want to define a piece of this, whereas CrowdStrike was looking just generally for any sort of beaconing or indication that infrastructure or malware were still living. We wanted to see something that reasonably made us conclude that an operator is still sitting there with fingers on keyboard, sending a command and entering networks. Kevin Mandia: Robert, this is Kevin Mandia. I've actually been on the line for the past 10 minutes and just staying quiet because Laura is crushing it. I don't know what CrowdStrike’s criteria is for saying compromise or not compromise. I do know that we at FireEye have over 350 incident responders, we have nearly 350 iSight intel analysts[Editor’s note:FireEye acquired the threat intelligence firm iSight Partnersfor $200 million earlier this year],and we have well over 3,000 customers where we have appliances deployed. Those are the sources for where we find these compromises. We've had our threat database in existence since 2006, so that’s the scale and scope at which we operate. When I look at the all the investigations we've done and all the intel we get from iSight, that's the data we’re reporting on. From the observables we have here at FireEye, the activity and counterespionage intrusions from China have gone down. Fortune: Because the attacks have dropped off precipitously, it seems, does this mean U.S. companies should breathe a sigh of relief? Mandia: Well, you've still got a bunch of other threats to worry about. So the answer is you still have to safeguard yourself from rogue states, which may be less responsible than China. I've always said this: the Chinese were the most polite hackers in cyberspace. They would break in, but I don't think they had exceptionally great counter forensics, they weren't destructive, they didn't go public with the data they stole. In many ways, if you were hacked, and you knew it, and it was the Chinese that did it, you breathed a sigh of relief. If it was some other group, you had to worry about public disclosure, about extortion, about a ton of other things. So the polite hackers have narrowed their targeting. That's how I look into this. I wouldn't breathe a sigh of relief. What I do see is that public exposure of Chinese cyber espionage by the private sector as well as by government officials--potentially the indictments and all the things Laura has put in the report--all of these factors did have an impact on the scale and scope of Chinese cyber espionage against the U.S.A. I see that as a positive thing. The unfortunate reality is that you still have to build your moat of defend against the other threats that are still out there. Fortune: During one recent quarter, Dave DeWalt, who was then FireEye’s CEO, said that attacks by China on U.S. companies had been decreasing. A bunch of peopletook issue with the statement. They said that attacks are still going on. Where does FireEye stand on that? Because it seems the report is saying that, yes, the number of attacks has decreased a lot. Mandia: Yup, we just stand by exactly what were publishing. Based on our observables, that's what we see. This isn't like the TTPs[Editor’s note: TTPs is cyberspeak for “tools, tactics, and procedures”--the idiosyncrasies of hacking methods]of Chinese cyber espionage changed over night. When we do see them, the TTPs are largely the same. There are going to be those naysayers out there who say, well, maybe FireEye is just missing it. I've been locked onto these guys virtually my whole career. I'm not convinced anyone has been responding to Chinese cyber espionage breaches longer than I have--and if there is somebody I'd like to find them. We dealt with this back when I was in the military in the '90s, and we're locked on still. The TTPs will change, but they're not surreptitious. We're not missing it. That's my opinion. Fortune: How do you persuade companies to continue to invest in cybersecurity when it seems that maybe the threats are not as drastic or immediately pressing as they might have been? Galante: I would say at this point you're taking a roll of the dice if you're a corporate entity or a government entity with strong intellectual property. Especially something that could be dual-use. Particularly, if you're in one of the many industries that's producing cutting edge R&D, you're now rolling the dice and have been for a long time, on whether you're going to be compromised. We’re seeing a maturation of China's military and political means to use cyber operations. To think that the decline in activity that we're seeing now is endemic of the future would be a misread. I think what we're seeing is a period of recalculating how to go with a precision force and a focus to get exactly the access that is needed, whether for political or military gains. Fortune: What prompted this report? Mandia: We went public in 2013 with the APT1 report. The government indicts soldiers in 2014. The president and the heads of state meet and they have discussions, and what does it lead to? What we hoped it would lead to--a reduction in the targeting of the private sector. I think that's a positive result. And that's why we're really doing this--to report on a positive result. Fortune: How have things changed for you since becoming CEO? Congrats on the promotion, by the way. Mandia: Thanks, it doesn't change much at the end of the day. PR person: Let’s keep off that for now. Fortune: Okay, what else is interesting--is North Korea behind the SWIFT bank hacks? Mandia: First thing I would say as a general citizen--and I don't have the data to opine one way or another--but boy, wouldn't you want to know who stole $81 million dollars from the bank of Bangladesh? Fortune: Oh yeah. Mandia: I mean if we can't pierce anonymity behind that as an international community, both behind the hack and behind the laundering of the money, don't we have a challenge here? $81 million is gone and we don't know who did it? That's not a good indicator for whether we’re going to catch who hacks a utility in Mississippi and shuts it down. We've got to get attribution right. If we can't get it right for Ashley Madison, fine, I get that. But if we can't get it right for stealing $81 million--that's not a good indicator. I think that's the interesting story right now. Can the international community can the pierce anonymity behind folks who steal $81 million, and if they can't, what else can they not do? Fortune: Indeed. Thanks for your time. Mandia: Take care, Robert. Fortune: You too. See original article on Fortune.com More from Fortune.com • Everything You Need to Know About North Korea's Suspected Bank Blitzkrieg • Senate Rejects Proposal to Expand FBI Spying Power • This Ad Firm That Tracked Kids Got Smacked With a $4 Million Fine • Why the Senate Will Likely Give the FBI More Spying Power After Orlando • Winklevoss Brothers Expand Their Bitcoin Exchange to the U.K. \|\| Looking For Safe Havens? Buy Gold! Buy Treasuries! Buy...Bitcoin?: The usual safe-haven trades are the only silver linings in an ugly Friday trading session. The iShares Barclays 20+ Yr Treas.Bond (ETF) (NASDAQ: TLT ) is up 2.7 percent and the SPDR Gold Trust (ETF) (NYSE: GLD ) is up 4.6 percent. However, another investment alternative may be emerging as the safe haven of the future. The cryptocurrency bitcoin has also surged above $650 on Friday as investors pour money in. It’s strange to think of a currency known for such extreme volatility as a safe haven, but with the pound and other European currencies taking a Brexit pounding, bitcoin buyers are probably more concerned with long-term value preservation than short-term price swings. “I don’t think it is a traditional safe-haven trade but a strategy to avoid official manipulation,” Swissquote Bank analyst Peter Rosenstreich explained. Bitcoin offers investors a unique new alternative to all traditional investment classes. Therefore, bad news for global financial markets may start to consistently be good news for bitcoin. Related Link: Baidu Among Companies Working Together To Use Bitcoin Technology To Create Global Bank Bitcoin investors endured some volatile trading earlier this week when rival cryptocurrency Ethereum suffered a major hack that resulted in $50 million in stolen currency. While bitcoin likely has a way to go before its price action is stable enough for the cryptocurrency to be considered “digital gold,” bitcoin already seems to be establishing a reputation among traders as a viable option during times of market uncertainty. Disclosure: The author holds no position in the stocks mentioned. See more from Benzinga What Analysts Think Central Banks Will Do Following Brexit What Goldman Sachs Thinks Of The Brexit This Treasury Bond ETF Is On Verge Of Bearish Chart Formation © 2016 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. View comments \|\| Looking For Safe Havens? Buy Gold! Buy Treasuries! Buy...Bitcoin?: The usual safe-haven trades are the only silver linings in an ugly Friday trading session. TheiShares Barclays 20+ Yr Treas.Bond(ETF)(NASDAQ:TLT) is up 2.7 percent and theSPDR Gold Trust (ETF)(NYSE:GLD) is up 4.6 percent. However, another investment alternative may be emerging as the safe haven of the future. The cryptocurrency bitcoin has also surged above $650 on Friday as investors pour money in. It’s strange to think of a currency known for such extreme volatility as a safe haven, but with the pound and other European currencies taking a Brexit pounding, bitcoin buyers are probably more concerned with long-term value preservation than short-term price swings. “I don’t think it is a traditional safe-haven trade but a strategy to avoid official manipulation,”Swissquote Bankanalyst Peter Rosenstreich explained. Bitcoin offers investors a unique new alternative to all traditional investment classes. Therefore, bad news for global financial markets may start to consistently be good news for bitcoin. Related Link:Baidu Among Companies Working Together To Use Bitcoin Technology To Create Global Bank Bitcoin investors endured some volatile trading earlier this week when rival cryptocurrency Ethereum suffered a major hack that resulted in $50 million in stolen currency. While bitcoin likely has a way to go before its price action is stable enough for the cryptocurrency to be considered “digital gold,” bitcoin already seems to be establishing a reputation among traders as a viable option during times of market uncertainty. Disclosure: The author holds no position in the stocks mentioned. See more from Benzinga • What Analysts Think Central Banks Will Do Following Brexit • What Goldman Sachs Thinks Of The Brexit • This Treasury Bond ETF Is On Verge Of Bearish Chart Formation © 2016 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. \|\| Looking For Safe Havens? Buy Gold! Buy Treasuries! Buy...Bitcoin?: The usual safe-haven trades are the only silver linings in an ugly Friday trading session. TheiShares Barclays 20+ Yr Treas.Bond(ETF)(NASDAQ:TLT) is up 2.7 percent and theSPDR Gold Trust (ETF)(NYSE:GLD) is up 4.6 percent. However, another investment alternative may be emerging as the safe haven of the future. The cryptocurrency bitcoin has also surged above $650 on Friday as investors pour money in. It’s strange to think of a currency known for such extreme volatility as a safe haven, but with the pound and other European currencies taking a Brexit pounding, bitcoin buyers are probably more concerned with long-term value preservation than short-term price swings. “I don’t think it is a traditional safe-haven trade but a strategy to avoid official manipulation,”Swissquote Bankanalyst Peter Rosenstreich explained. Bitcoin offers investors a unique new alternative to all traditional investment classes. Therefore, bad news for global financial markets may start to consistently be good news for bitcoin. Related Link:Baidu Among Companies Working Together To Use Bitcoin Technology To Create Global Bank Bitcoin investors endured some volatile trading earlier this week when rival cryptocurrency Ethereum suffered a major hack that resulted in $50 million in stolen currency. While bitcoin likely has a way to go before its price action is stable enough for the cryptocurrency to be considered “digital gold,” bitcoin already seems to be establishing a reputation among traders as a viable option during times of market uncertainty. Disclosure: The author holds no position in the stocks mentioned. See more from Benzinga • What Analysts Think Central Banks Will Do Following Brexit • What Goldman Sachs Thinks Of The Brexit • This Treasury Bond ETF Is On Verge Of Bearish Chart Formation © 2016 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. \|\| Clinton, Trump Weigh In On The Brexit: With one major source of market uncertainty ending up a worst-case scenario for global investors on Friday, the markets are now looking to the U.S. presidential election as the next major unknown. Now that the Brexit vote is official, both Donald Trump and Hillary Clinton have weighed in on the decision. “This time of uncertainty only underscores the need for calm, steady, experienced leadership in the White House to protect Americans’ pocketbooks and livelihoods, to support our friends and allies, to stand up to our adversaries, and to defend our interest,” Clinton said ina statement. Clinton had spoken out in opposition to a Brexit vote in recent weeks. Related Link:Baidu Among Companies Working Together To Use Bitcoin Technology To Create Global Bank Trump, on the other hand, had been in favor of a Brexit and praised the decision to leave the EU. “They’re angry over borders. They’re angry over people coming into the country and taking over. Nobody even knows who they are,” Trump said in a news conference on Friday. “They’re angry about many, many things. They took back control of their country. It’s a great thing.” The populist spirit underlying the Brexit campaign in the U.K. is the same type of enthusiasm that Trump is trying to drum up in American voters in November. See more from Benzinga • What Analysts Think Central Banks Will Do Following Brexit • The Fed Is 'Carefully Monitoring' Global Markets • What Goldman Sachs Thinks Of The Brexit © 2016 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. \|\| Clinton, Trump Weigh In On The Brexit: With one major source of market uncertainty ending up a worst-case scenario for global investors on Friday, the markets are now looking to the U.S. presidential election as the next major unknown. Now that the Brexit vote is official, both Donald Trump and Hillary Clinton have weighed in on the decision. “This time of uncertainty only underscores the need for calm, steady, experienced leadership in the White House to protect Americans’ pocketbooks and livelihoods, to support our friends and allies, to stand up to our adversaries, and to defend our interest,” Clinton said in a statement . Clinton had spoken out in opposition to a Brexit vote in recent weeks. Related Link: Baidu Among Companies Working Together To Use Bitcoin Technology To Create Global Bank Trump, on the other hand, had been in favor of a Brexit and praised the decision to leave the EU. “They’re angry over borders. They’re angry over people coming into the country and taking over. Nobody even knows who they are,” Trump said in a news conference on Friday. “They’re angry about many, many things. They took back control of their country. It’s a great thing.” The populist spirit underlying the Brexit campaign in the U.K. is the same type of enthusiasm that Trump is trying to drum up in American voters in November. See more from Benzinga What Analysts Think Central Banks Will Do Following Brexit The Fed Is 'Carefully Monitoring' Global Markets What Goldman Sachs Thinks Of The Brexit © 2016 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. \|\| The newest Bitcoin price surge isn’t just about Brexit: The price of the digital currency bitcoin is up 15% in the past 24 hours, and you might reasonably think it has something to do with the massive global economic event that took place on Thursday. And you’d be right. But that isn’t the whole story. Headlines are shouting that bitcoin is up because ofBritain’s vote to leave the European Union, which has sent its own currency,the pound, plummeting to a 31-year low. Yes, Brexit may be helping bitcoin, but as with every bitcoin spike, there are many other factors at play. “I’d say Brexit is just one sub-item of one of those factors,” says Gil Luria, a Wedbush Securities analyst who has a pretty good track record on the bitcoin price. In July 2015, when the price was around $250, heprojected it would reach $400in one year. In October, herevised the projection to $600. The coin is currently trading at $650. So, what are the factors that cause occasional bitcoin spikes? The first, and typically biggest, is China. It’s the biggest country for bitcoin trading activity and speculation (if not for bitcoin startup headquarters) and bitcoin is increasingly the vehicle of choice for capital exits from the yuan. The yuan is sinking as well at the moment, approaching a six-year low at the time of writing, and it is possible some tech-savvy Chinese investors are turning to bitcoin. Second, The Great Bitcoin Halving approaches. Huh? Here’s a quick-and-dirty summary: All bitcoin transactions are recorded onthe bitcoin blockchain, a public, decentralized, permissionless ledger. The transactions are recorded in bundles, called “blocks,” by “miners” who receive a small award in bitcoin for mining. Beginning in July, the reward that miners receive per block is being cut in half, for the second time in bitcoin’s history. The result of the halving will reduce the creation of new bitcoins from 9% down to about 4% per year, and while the effect of this on the price is up for debate, many believe the anticipation of the change is bringing up the price."People are excited" about the halving, Luria says. Third, general uncertainty and fear help bitcoin. Brexit is just the latest example of this. Bitcoin rose when the Greek debt crisis came to a head. It typically rises whenever a major country’s economy roils. That’s because bitcoin is an “uncorrelated asset” much like gold. “Bonds, stocks, home prices always go in the same direction,” Luria says. “But bitcoin is a place to hide in times of uncertainty. I’d rather have the volatility of bitcoin with the knowledge that my currency is going to get depreciated by 30% in the next few months. Bitcoin has its own drivers, its own value, and it’s not going to go up and down because of the actions of central banks.” It's important to note that bitcoin has already been on an absolute tear this summer. One month ago, the price was in the $400 range. Last week, it nearly hit $800. It’s up 57% in the past three months and 170% in the past year. It has been on a ride that briefly reversed earlier this week, when the price began falling again. Now it's been buoyed back up on the Brexit news. But it is possible, perhaps likely, that the price would have risen again this week, or next, even without the news from England. Nonetheless, bitcoin people are excited. "The pound has crashed; the Euro is in trouble, the dollar turbulent. Maybe it’s time the world looks at a more global solution," said Mihir Magudia of digital currency LEOcoin, in an e-mailed comment. Barry Silbert, whoseDigital Currency Group has invested in a lion’s share of the hottest bitcoin startups, tweeted a bit of a grand statement on Thursday night about the price hike. Before anyone goes ditching all their fiat currency for bitcoin, it’s worth keeping some perspective: the market cap of all the bitcoin in the world is only around $10 billion. That’s half an Under Armour. The best piece of wisdom to remember whenever anyone analyzes the price of bitcoin is that no one really knows anything. It’s a volatile commodity, with fluctuations influenced by a whole host of factors and elusive sentiment. -- Daniel Roberts is a writer at Yahoo Finance, covering technology and sports business. Follow him on Twitter at@readDanwrite. Read more: Here's where big banks stand on blockchain Why 21.co is the most exciting bitcoin company right now Coinbase is more bullish on bitcoin than ever \|\| The newest Bitcoin price surge isn’t just about Brexit: The price of the digital currency bitcoin is up 15% in the past 24 hours, and you might reasonably think it has something to do with the massive global economic event that took place on Thursday. And you’d be right. But that isn’t the whole story. Headlines are shouting that bitcoin is up because ofBritain’s vote to leave the European Union, which has sent its own currency,the pound, plummeting to a 31-year low. Yes, Brexit may be helping bitcoin, but as with every bitcoin spike, there are many other factors at play. “I’d say Brexit is just one sub-item of one of those factors,” says Gil Luria, a Wedbush Securities analyst who has a pretty good track record on the bitcoin price. In July 2015, when the price was around $250, heprojected it would reach $400in one year. In October, herevised the projection to $600. The coin is currently trading at $650. So, what are the factors that cause occasional bitcoin spikes? The first, and typically biggest, is China. It’s the biggest country for bitcoin trading activity and speculation (if not for bitcoin startup headquarters) and bitcoin is increasingly the vehicle of choice for capital exits from the yuan. The yuan is sinking as well at the moment, approaching a six-year low at the time of writing, and it is possible some tech-savvy Chinese investors are turning to bitcoin. Second, The Great Bitcoin Halving approaches. Huh? Here’s a quick-and-dirty summary: All bitcoin transactions are recorded onthe bitcoin blockchain, a public, decentralized, permissionless ledger. The transactions are recorded in bundles, called “blocks,” by “miners” who receive a small award in bitcoin for mining. Beginning in July, the reward that miners receive per block is being cut in half, for the second time in bitcoin’s history. The result of the halving will reduce the creation of new bitcoins from 9% down to about 4% per year, and while the effect of this on the price is up for debate, many believe the anticipation of the change is bringing up the price."People are excited" about the halving, Luria says. Third, general uncertainty and fear help bitcoin. Brexit is just the latest example of this. Bitcoin rose when the Greek debt crisis came to a head. It typically rises whenever a major country’s economy roils. That’s because bitcoin is an “uncorrelated asset” much like gold. “Bonds, stocks, home prices always go in the same direction,” Luria says. “But bitcoin is a place to hide in times of uncertainty. I’d rather have the volatility of bitcoin with the knowledge that my currency is going to get depreciated by 30% in the next few months. Bitcoin has its own drivers, its own value, and it’s not going to go up and down because of the actions of central banks.” It's important to note that bitcoin has already been on an absolute tear this summer. One month ago, the price was in the $400 range. Last week, it nearly hit $800. It’s up 57% in the past three months and 170% in the past year. It has been on a ride that briefly reversed earlier this week, when the price began falling again. Now it's been buoyed back up on the Brexit news. But it is possible, perhaps likely, that the price would have risen again this week, or next, even without the news from England. Nonetheless, bitcoin people are excited. "The pound has crashed; the Euro is in trouble, the dollar turbulent. Maybe it’s time the world looks at a more global solution," said Mihir Magudia of digital currency LEOcoin, in an e-mailed comment. Barry Silbert, whoseDigital Currency Group has invested in a lion’s share of the hottest bitcoin startups, tweeted a bit of a grand statement on Thursday night about the price hike. Before anyone goes ditching all their fiat currency for bitcoin, it’s worth keeping some perspective: the market cap of all the bitcoin in the world is only around $10 billion. That’s half an Under Armour. The best piece of wisdom to remember whenever anyone analyzes the price of bitcoin is that no one really knows anything. It’s a volatile commodity, with fluctuations influenced by a whole host of factors and elusive sentiment. -- Daniel Roberts is a writer at Yahoo Finance, covering technology and sports business. Follow him on Twitter at@readDanwrite. Read more: Here's where big banks stand on blockchain Why 21.co is the most exciting bitcoin company right now Coinbase is more bullish on bitcoin than ever \|\| The newest Bitcoin price surge isnt just about Brexit: Bitcoin price over the past 24 hours, via WinkDex. The price of the digital currency bitcoin is up 15% in the past 24 hours, and you might reasonably think it has something to do with the massive global economic event that took place on Thursday. And youd be right. But that isnt the whole story. Headlines are shouting that bitcoin is up because of Britains vote to leave the European Union , which has sent its own currency, the pound, plummeting to a 31-year low . Yes, Brexit may be helping bitcoin, but as with every bitcoin spike, there are many other factors at play. Id say Brexit is just one sub-item of one of those factors, says Gil Luria, a Wedbush Securities analyst who has a pretty good track record on the bitcoin price. In July 2015, when the price was around $250, he projected it would reach $400 in one year. In October, he revised the projection to $600 . The coin is currently trading at $650. So, what are the factors that cause occasional bitcoin spikes? The first, and typically biggest, is China. Its the biggest country for bitcoin trading activity and speculation (if not for bitcoin startup headquarters) and bitcoin is increasingly the vehicle of choice for capital exits from the yuan. The yuan is sinking as well at the moment, approaching a six-year low at the time of writing, and it is possible some tech-savvy Chinese investors are turning to bitcoin. Second, The Great Bitcoin Halving approaches. Huh? Heres a quick-and-dirty summary: All bitcoin transactions are recorded on the bitcoin blockchain, a public, decentralized, permissionless ledger . The transactions are recorded in bundles, called blocks, by miners who receive a small award in bitcoin for mining. Beginning in July, the reward that miners receive per block is being cut in half, for the second time in bitcoins history. The result of the halving will reduce the creation of new bitcoins from 9% down to about 4% per year, and while the effect of this on the price is up for debate, many believe the anticipation of the change is bringing up the price. "People are excited" about the halving, Luria says. Story continues Third, general uncertainty and fear help bitcoin. Brexit is just the latest example of this. Bitcoin rose when the Greek debt crisis came to a head. It typically rises whenever a major countrys economy roils. Thats because bitcoin is an uncorrelated asset much like gold. Bonds, stocks, home prices always go in the same direction, Luria says. But bitcoin is a place to hide in times of uncertainty. Id rather have the volatility of bitcoin with the knowledge that my currency is going to get depreciated by 30% in the next few months. Bitcoin has its own drivers, its own value, and its not going to go up and down because of the actions of central banks. It's important to note that bitcoin has already been on an absolute tear this summer. Bitcoin over the past 3 months, via WinkDex, which shows a blended price from the leading price indices. One month ago, the price was in the $400 range. Last week, it nearly hit $800. Its up 57% in the past three months and 170% in the past year. It has been on a ride that briefly reversed earlier this week, when the price began falling again. Now it's been buoyed back up on the Brexit news. But it is possible, perhaps likely, that the price would have risen again this week, or next, even without the news from England. Nonetheless, bitcoin people are excited. "The pound has crashed; the Euro is in trouble, the dollar turbulent. Maybe its time the world looks at a more global solution," said Mihir Magudia of digital currency LEOcoin, in an e-mailed comment. Barry Silbert, whose Digital Currency Group has invested in a lions share of the hottest bitcoin startups , tweeted a bit of a grand statement on Thursday night about the price hike. This is bitcoin's coming out party as a global safe haven investment. Amazing Barry Silbert (@barrysilbert) June 24, 2016 Before anyone goes ditching all their fiat currency for bitcoin, its worth keeping some perspective: the market cap of all the bitcoin in the world is only around $10 billion. Thats half an Under Armour. The best piece of wisdom to remember whenever anyone analyzes the price of bitcoin is that no one really knows anything. Its a volatile commodity, with fluctuations influenced by a whole host of factors and elusive sentiment. -- Daniel Roberts is a writer at Yahoo Finance, covering technology and sports business. Follow him on Twitter at @readDanwrite . Read more: Here's where big banks stand on blockchain Why 21.co is the most exciting bitcoin company right now Coinbase is more bullish on bitcoin than ever \|\| The Fed Is 'Carefully Monitoring' Global Markets: The surprise British vote to leave the Eurozone sent European markets into chaos on Friday. While European central banks scramble to maintain order, they at least know that they can count on help from across the Atlantic. The U.S. Federal Reserve released a concise statement on Friday assuring the European Union that it is willing provide liquidity if needed: “The Federal Reserve is carefully monitoring developments in global financial markets, in cooperation with other central banks, following the results of the U.K. referendum on membership in the European Union. The Federal Reserve is prepared to provide dollar liquidity through its existing swap lines with central banks, as necessary, to address pressured in global funding markets, which could have adverse implications for the U.S. economy.” Related Link: Baidu Among Companies Working Together To Use Bitcoin Technology To Create Global Bank President Obama also released a statement on the Brexit. "The special relationship between the United States and the United Kingdom is enduring, and the United Kingdom’s membership in NATO remains a vital cornerstone of U.S. foreign, security, and economic policy. The United Kingdom and the European Union will remain indispensable partners of the United States even as they begin negotiating their ongoing relationship to ensure continued stability, security, and prosperity for Europe, Great Britain and Northern Ireland, and the world," the statement reads. Obama had spoken out in opposition to a Brexit in the weeks leading up to the referendum. Canada Prime Minister Justin Trudeau has already released an official statement on the Brexit. “The UK and the EU are important strategic partners for Canada with whom we enjoy deep historical ties and common values,” the statement reads. “We will continue to build relations with both parties as they forge a new relationship.” So far in Friday trading, the SPDR S&P 500 ETF Trust (NYSE: SPY )’s 2.1 percent loss is relatively modest compared to the 8.8 percent drop in the iShares Trust (NYSE: EWU ). Story continues Disclosure: the author holds no position in the stocks mentioned. See more from Benzinga What Goldman Sachs Thinks Of The Brexit Social Data Provides Real-Time Brexit Sentiment Everything You Need To Know About The Brexit © 2016 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. \|\| The Fed Is 'Carefully Monitoring' Global Markets: The surprise British vote to leave the Eurozone sent European markets into chaos on Friday. While European central banks scramble to maintain order, they at least know that they can count on help from across the Atlantic. The U.S. Federal Reserve released aconcise statementon Friday assuring the European Union that it is willing provide liquidity if needed: “The Federal Reserve is carefully monitoring developments in global financial markets, in cooperation with other central banks, following the results of the U.K. referendum on membership in the European Union. The Federal Reserve is prepared to provide dollar liquidity through its existing swap lines with central banks, as necessary, to address pressured in global funding markets, which could have adverse implications for the U.S. economy.” Related Link:Baidu Among Companies Working Together To Use Bitcoin Technology To Create Global Bank President Obama also releaseda statementon the Brexit. "The special relationship between the United States and the United Kingdom is enduring, and the United Kingdom’s membership in NATO remains a vital cornerstone of U.S. foreign, security, and economic policy. The United Kingdom and the European Union will remain indispensable partners of the United States even as they begin negotiating their ongoing relationship to ensure continued stability, security, and prosperity for Europe, Great Britain and Northern Ireland, and the world," the statement reads. Obama had spoken out in opposition to a Brexit in the weeks leading up to the referendum. Canada Prime Minister Justin Trudeau has already released an official statement on the Brexit. “The UK and the EU are important strategic partners for Canada with whom we enjoy deep historical ties and common values,” the statement reads. “We will continue to build relations with both parties as they forge a new relationship.” So far in Friday trading, theSPDR S&P 500 ETF Trust(NYSE:SPY)’s 2.1 percent loss is relatively modest compared to the 8.8 percent drop in theiShares Trust(NYSE:EWU). Disclosure: the author holds no position in the stocks mentioned. See more from Benzinga • What Goldman Sachs Thinks Of The Brexit • Social Data Provides Real-Time Brexit Sentiment • Everything You Need To Know About The Brexit © 2016 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. \|\| Bitcoin spikes as yuan hits five-and-a-half year low on Brexit: The price of global cryptocurrencybitcoin (: BTC=) spiked on Friday as the yuan dipped after Britain voted to leave the European Union. Bitcoin moves are often counter-linked to the yuan because the majority of trade in the cryptocurrency comes from China. The yuan hit a five-and-a-half-year low on Friday, while the price of bitcoin jumped around 8.7 percent from the day's opening price, hitting highs of around $680.19, according to Coindesk which tracks the price of the cryptocurrency. "We are seeing trading volumes almost $100 million traded in the past 24 hours, it's two or three times compared to a slow day," Bobbly Lee, chief executive of BTCC, one of the largest bitcoin exchanges in the world based in China, told CNBC by phone on Friday. The value of bitcoin continues to be volatile. On Thursday, it plunged 25 percent since hitting a two-and-a-half year high on June 17 of $774.94. It is still not back at that level. But it's important to note that Brexit is just one among several factors that have affected the bitcoin price in recent times. Sentiment was dampened when earlier this week, Hong Kong-based bitcoin exchange Bitfinex was closed for a few hours because of "networking issues" in the company's data center, it said on Twitter. The issues were fixed on the same day. "The correction from a day or two ago had more to do with a technical correction that it did with Brexit," Lee said. More From CNBC Top News and Analysis Latest News Video Personal Finance \|\| Bitcoin spikes as yuan hits five-and-a-half year low on Brexit: The price of global cryptocurrencybitcoin(: BTC=)spiked on Friday as the yuan dipped after Britain voted to leave the European Union. Bitcoin moves are often counter-linked to the yuan because the majority of trade in the cryptocurrency comes from China. The yuan hit a five-and-a-half-year low on Friday, while the price of bitcoin jumped around 8.7 percent from the day's opening price, hitting highs of around $680.19, according to Coindesk which tracks the price of the cryptocurrency. "We are seeing trading volumes almost $100 million traded in the past 24 hours, it's two or three times compared to a slow day," Bobbly Lee, chief executive of BTCC, one of the largest bitcoin exchanges in the world based in China, told CNBC by phone on Friday. The value of bitcoin continues to be volatile. On Thursday, itplunged 25 percentsince hitting a two-and-a-half year high on June 17 of $774.94. It is still not back at that level. But it's important to note that Brexit is just oneamong several factorsthat have affected the bitcoin price in recent times. Sentiment was dampened when earlier this week, Hong Kong-based bitcoin exchange Bitfinex was closed for a few hours because of "networking issues" in the company's data center, it said on Twitter. The issues were fixed on the same day. "The correction from a day or two ago had more to do with a technical correction that it did with Brexit," Lee said. More From CNBC • Top News and Analysis • Latest News Video • Personal Finance \|\| Bitcoin spikes as yuan hits five-and-a-half year low on Brexit: The price of global cryptocurrencybitcoin(: BTC=)spiked on Friday as the yuan dipped after Britain voted to leave the European Union. Bitcoin moves are often counter-linked to the yuan because the majority of trade in the cryptocurrency comes from China. The yuan hit a five-and-a-half-year low on Friday, while the price of bitcoin jumped around 8.7 percent from the day's opening price, hitting highs of around $680.19, according to Coindesk which tracks the price of the cryptocurrency. "We are seeing trading volumes almost $100 million traded in the past 24 hours, it's two or three times compared to a slow day," Bobbly Lee, chief executive of BTCC, one of the largest bitcoin exchanges in the world based in China, told CNBC by phone on Friday. The value of bitcoin continues to be volatile. On Thursday, itplunged 25 percentsince hitting a two-and-a-half year high on June 17 of $774.94. It is still not back at that level. But it's important to note that Brexit is just oneamong several factorsthat have affected the bitcoin price in recent times. Sentiment was dampened when earlier this week, Hong Kong-based bitcoin exchange Bitfinex was closed for a few hours because of "networking issues" in the company's data center, it said on Twitter. The issues were fixed on the same day. "The correction from a day or two ago had more to do with a technical correction that it did with Brexit," Lee said. More From CNBC • Top News and Analysis • Latest News Video • Personal Finance \|\| Baidu Among Companies Working Together To Use Bitcoin Technology To Create Global Bank: Bitcoin’s whiplash-inducing volatility continued this week when the cryptocurrency surged to new two-year highs on Monday before plunging 10 percent the following day. One of the major drivers of Bitcoin’s recent rise has been demand from China. A group of Chinese companies, including Internet search giantBaidu Inc (ADR)(NASDAQ:BIDU), has raised $60 million in funding for Circle Inc, a U.S. startup based on Bitcoin’s underlying technology. Circle is a blockchain-based digital payment app. Blockchain technology is the public ledger of all Bitcoin transactions and is often viewed as the major underlying innovation of Bitcoin. Related Link:Self-Proclaimed Inventor Of Bitcoin Reportedly Seeks Hundreds Of Patents On Blockchain Technology “If you look at the trends, China very well could be the driver of the adoption of blockchain consumer services,” Circle CEOJeremy Allairesaid. One potential hurdle Circle and other blockchain-based startups may soon have to clear is potential patent disputes. Australian Craig Wright, who claims to be Bitcoin founder “Satoshi Nakamoto” has now filed at least 50 patent applications via Britain’s EITC Holdings Ltd. The London Review of Books claims that Wright is in the process of filing hundreds of patents that will eventually be sold for more than $1 billion. In the meantime, Circle and its investors will continue to try to apply blockchain technology toward Allaire's goal of building a global bank that makes sending payments “as easy as sending an email.” Disclosure: The author holds no position in the stocks mentioned. See more from Benzinga • Buy The FedEx Earnings Selloff, Deutsche Bank Says • Marijuana Ruling: Is The DEA Re-Scheduling Bullish For Weed Stocks? • Social Data Provides Real-Time Brexit Sentiment © 2016 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. \|\| Baidu Among Companies Working Together To Use Bitcoin Technology To Create Global Bank: Bitcoin’s whiplash-inducing volatility continued this week when the cryptocurrency surged to new two-year highs on Monday before plunging 10 percent the following day. One of the major drivers of Bitcoin’s recent rise has been demand from China. A group of Chinese companies, including Internet search giantBaidu Inc (ADR)(NASDAQ:BIDU), has raised $60 million in funding for Circle Inc, a U.S. startup based on Bitcoin’s underlying technology. Circle is a blockchain-based digital payment app. Blockchain technology is the public ledger of all Bitcoin transactions and is often viewed as the major underlying innovation of Bitcoin. Related Link:Self-Proclaimed Inventor Of Bitcoin Reportedly Seeks Hundreds Of Patents On Blockchain Technology “If you look at the trends, China very well could be the driver of the adoption of blockchain consumer services,” Circle CEOJeremy Allairesaid. One potential hurdle Circle and other blockchain-based startups may soon have to clear is potential patent disputes. Australian Craig Wright, who claims to be Bitcoin founder “Satoshi Nakamoto” has now filed at least 50 patent applications via Britain’s EITC Holdings Ltd. The London Review of Books claims that Wright is in the process of filing hundreds of patents that will eventually be sold for more than $1 billion. In the meantime, Circle and its investors will continue to try to apply blockchain technology toward Allaire's goal of building a global bank that makes sending payments “as easy as sending an email.” Disclosure: The author holds no position in the stocks mentioned. See more from Benzinga • Buy The FedEx Earnings Selloff, Deutsche Bank Says • Marijuana Ruling: Is The DEA Re-Scheduling Bullish For Weed Stocks? • Social Data Provides Real-Time Brexit Sentiment © 2016 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. \|\| The tide of money is turning in one of the hottest areas of tech: (Flickr/Kolitha de Silva) New York has traditionally been the hub of finance while Silicon Valley has the tech industry covered, but the tide of money is turning, and in fintech — the intersection of those two fields — New York is coming out on top. Fintech, short for financial technology, is an industry based on using technology to make financial services more efficient. According to a report published Thursday by Accenture Strategy and the Partnership Fund for New York City, New York tops Silicon Valley in fintech venture financing for the first time. In Q1 2016, $690 million in fintech venture capital funding flowed into New York, while $511 million went to Silicon Valley. Fintech investmentin New York during 2015 nearly tripled from 2014, to $2.3 billion, accounting for nearly 10% of all fintech investment globally. (Accenture, Partnership Fund) The top fintech accelerators in the US are based in New York, including Barclays Rise and the Fintech Innovation Lab, the latter of which held its demo day on Thursday. The Fintech Innovation Lab introduces selected startups in its program to 29 financial institutions that mentor the companies for 12 weeks. During this time, startups often adapt their models to solve common problems facing all financial institutions. Technologies like blockchain, cloud computing, and alternative data analytics have the potential to revolutionize the financial services industry, but regulation and challenges to scale make it tough for startups to go at it alone. This has caused investment in the sector to shift from companies that compete with deep-pocketed traditional financial institutions to those that partner with them. The chart below shows that in New York in 2010, 37% of fintech funding went to ventures that collaborated with financial institutions; that has increased to 83% in 2015. (Accenture, Partnership Fund Analysis of CB Insights Data) According to the report, banks are learning to work more closely with startups and transforming into companies that can seamlessly adopt new fintech and innovation solutions. Robert Gach, managing director of capital markets at Accenture Strategy and a coauthor of the report, said he believes the shift from competition to collaboration will continue, and it has the potential to fundamentally change the banking ecosystem. "It's when these technologies are no longer solving one problem at a time, but being put together and building upon each other that fintech will go the final mile," said Gach. NOW WATCH:THE BOTTOM LINE: Jamie Dimon and trillion dollar Apple More From Business Insider • Bitcoin may be headed for a bubble • Startup bank Tandem cuts headcount after funding setback • LendInvest to test investors \|\| The tide of money is turning in one of the hottest areas of tech: new york (Flickr/Kolitha de Silva) New York has traditionally been the hub of finance while Silicon Valley has the tech industry covered, but the tide of money is turning, and in fintech — the intersection of those two fields — New York is coming out on top. Fintech, short for financial technology, is an industry based on using technology to make financial services more efficient. According to a report published Thursday by Accenture Strategy and the Partnership Fund for New York City, New York tops Silicon Valley in fintech venture financing for the first time. In Q1 2016, $690 million in fintech venture capital funding flowed into New York, while $511 million went to Silicon Valley. Fintech investment in New York during 2015 nearly tripled from 2014, to $2.3 billion, accounting for nearly 10% of all fintech investment globally. NY Fintech Financing Activity (Accenture, Partnership Fund) The top fintech accelerators in the US are based in New York, including Barclays Rise and the Fintech Innovation Lab, the latter of which held its demo day on Thursday. The Fintech Innovation Lab introduces selected startups in its program to 29 financial institutions that mentor the companies for 12 weeks. During this time, startups often adapt their models to solve common problems facing all financial institutions. Technologies like blockchain, cloud computing, and alternative data analytics have the potential to revolutionize the financial services industry, but regulation and challenges to scale make it tough for startups to go at it alone. This has caused investment in the sector to shift from companies that compete with deep-pocketed traditional financial institutions to those that partner with them. The chart below shows that in New York in 2010, 37% of fintech funding went to ventures that collaborated with financial institutions; that has increased to 83% in 2015. Collaborative versus Competitive Fintech Investments (Accenture, Partnership Fund Analysis of CB Insights Data) According to the report, banks are learning to work more closely with startups and transforming into companies that can seamlessly adopt new fintech and innovation solutions. Story continues Robert Gach, managing director of capital markets at Accenture Strategy and a coauthor of the report, said he believes the shift from competition to collaboration will continue, and it has the potential to fundamentally change the banking ecosystem. "It's when these technologies are no longer solving one problem at a time, but being put together and building upon each other that fintech will go the final mile," said Gach. NOW WATCH: THE BOTTOM LINE: Jamie Dimon and trillion dollar Apple More From Business Insider Bitcoin may be headed for a bubble Startup bank Tandem cuts headcount after funding setback LendInvest to test investors \|\| Bitcoin Services Inc. To Develop Blockchain Software with Emphasis on Online Marketplace, File Storage and Identity Management: GRANDVILLE, MI / ACCESSWIRE / June 23, 2016 /Bitcoin Services Inc., (OTC Pink: BTSC) announced today that it plans to develop blockchain software with emphasis on online marketplace, file storage and identity management. In online marketplace Blockchain software will be applied to establish ownership over anything on the internet. This opens up the potential for ownership of tickets, merchandise, products, and subscriptions. On file storage blockchain software would allow a Peer to Peer file sharing network. It would remove the need for centralized databases and heavy storage areas. On Identity management blockchain software would allow users to create tamper-proof digital identities for themselves by being a blockchain-based identity service. These digital identities could be used to replace usernames and passwords online. About Bitcoin Services Inc.:The issuer's business operations are each Internet based to the consumer and consist of three separate streams, as follows: (1) bitcoin escrow services, (2) bitcoin mining, and (3) blockchain software development. The principal products and services are the mining of bitcoins, proving escrow services for buyers and sellers of bitcoins, and the development and sale of blockchain software. The market for these services and products is Worldwide, and sold and marketed on the Internet. Safe Harbor StatementThis release contains forward-looking statements within the meaning of Section 27a of the Securities Act of 1933, as amended and section 21e of the Securities and Exchange Act of 1934, as amended. Those statements include the intent, belief or current expectations of the company and its management team. Prospective investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, and that actual results may differ materially from those projected in the forward-looking statements as a result of various factors. Accomplishing the strategy described herein is significantly dependent upon numerous factors, many that are not in management's control. Some of these factors include the ability of the company to raise sufficient capital, attract qualified management, attract new customers and effectively compete against similar companies. CONTACT: [email protected] SOURCE:Bitcoin Services Inc. [Social Media Buzz] 1 #bitcoin 1968.47 TL, 615.627 $, 577 €, GBP, 38866.00 RUR, 65951 ¥, CNH, CAD #btc \|\| 1 #bitcoin 1921.64 TL, 617.999 $, 571.938 €, GBP, 39118.00 RUR, 65001 ¥, CNH, CAD #btc \|\| One Bitcoin now worth $654.50@bitstamp. High $665.51. Low $622.00. Market Cap $10.282 Billion #bitcoin \|\| Order your secure and smart Bitcoin hardware wallet - Only 34.80 EUR https://www.ledgerwallet.com/r/4518?path=/products/1-ledger-nano … #bitcoin #btc 00:17 pic.twitter.com/N7AnyE8hd3 \|\| #bitcoin #miner AntMiner S...	647.00, 639.89, 673.34, 676.30, 703.70, 658.66, 683.66, 670.63, 677.33, 640.56
Given the historical Bitcoin prices from the last 90 days, predict the next 10 daily closing prices. The historical prices are: 230.62, 230.28, 234.53, 235.14, 234.34, 232.76, 239.14, 236.69, 236.06, 237.55, 237.29, 238.73, 238.26, 240.38, 246.06, 242.97, 242.30, 243.93, 244.94, 247.05, 245.31, 249.51, 251.99, 254.32, 262.87, 270.64, 261.64, 263.44, 269.46, 266.27, 274.02, 276.50, 281.65, 283.68, 285.30, 293.79, 304.62, 313.86, 328.02, 314.17, 325.43, 361.19, 403.42, 411.56, 386.35, 374.47, 386.48, 373.37, 380.26, 336.82, 311.08, 338.15, 336.75, 332.91, 320.17, 330.75, 335.09, 334.59, 326.15, 322.02, 326.93, 324.54, 323.05, 320.05, 328.21, 352.68, 358.04, 357.38, 371.29, 377.32, 362.49, 359.19, 361.05, 363.18, 388.95, 388.78, 395.54, 415.56, 417.56, 415.48, 451.94, 435.00, 433.76, 444.18, 465.32, 454.93, 456.08, 463.62, 462.32, 442.68.	[Bitcoin Technical Analysis for 2015-12-20] Volume: 75409400, RSI (14-day): 61.97, 50-day EMA: 379.36, 200-day EMA: 305.13 [Wider Market Context] None available. [Recent News (last 7 days)] The myth of Mariana's Web, the darkest corner of the internet: Chances are, like me, the first time you heard about the Dark Web it was described as a foul and depraved marketplace, where children, drugs, and pirated movies could be bought for mere Bitcoin. Tabloids paint it as a place where a veritable "Top 10" of our biggest fears resides. Opportunistic security companies sell threat intelligence services that allude to hunting for bad guys in dark dens that deal in organ harvesting, involuntary human experiments, and more. Like most people, I find the siren song of lurid, spooky bullshit to be irresistible. And the Dark Web's boogeyman aura is all about spooky bullshit. That's despite the fact that the Dark Web is host to a lot of communities that aren't doing anything nefarious (unless you think furries are evil; there's a huge Dark Web furry social network that simply wants privacy). But the organ harvesting dramatics are nothing until we get to the "deepest part of the web, where people don't want you to go," the so-called "Mariana's Web." The legend of Mariana's Web appears to get its name from the deepest part of the ocean, Mariana's Trench. It's supposedly the deepest part of the web, a forbidden place of mysterious evil -- or at least, that's the mythos a subset of online believers has cultivated. Depending on where you get your Mariana's Web myths, it's where you'll find "the darkest secrets humanity has in its history," the secret location of Atlantis and "the Vatican secret archives," or a database of archives belonging to the most powerful intelligence agencies on Earth. Many believe that Mariana's is home to an all-powerful, female artificial intelligence entity . Mariana's Web is certainly the definition of spooky BS, especially because it's technically impossible; it's supposedly only accessible through quantum computers -- which currently only exist in science fiction. Story continues Yet to the chagrin of people who love facts, it's slowly starting to be reported as fact. Copy or Embed This Whisper Direct Link Embed Download on the App Store Download on Google Play Get App That's probably not a surprise if you've been watching infosec-challenged traditional media try to cover the finer points of hacking, let alone anything outside Google's reach. But seeing anecdotes and myth start to bubble up into areas that may affect people's actual decisions about risk and safety ... Well it's entertaining, but also worrying when anecdote is substituted for data in an area that often involves law enforcement. That infosec firm clients are asking for threat intel packages to include Mariana's Web is information that is also anecdotal, though it's my anecdote, and one I recently heard first-hand. But that new twist, my friends, isn't just the result of clickbait or security company sales drama -- it's the result of this fake infographic . An epic troll that people have interpreted as fact . I don't know why people don't read things carefully, or avoid fact checking, or want to believe in Atlantis and invisible beings. But I'm glad they do, because it sure makes doing research on dry-as-desert threat intel services way more entertaining. Fingers crossed that the TV take on the very fictional Mariana's Web comes from The X-Files , and not CSI: Cyber -- or CNN. [Image credit: Shutterstock] \|\| The myth of Mariana's Web, the darkest corner of the internet: Chances are, like me, the first time you heard about the Dark Web it was described as a foul and depraved marketplace, where children, drugs, and pirated movies could be bought for mere Bitcoin. Tabloids paint it as a place where a veritable "Top 10" of our biggest fears resides. Opportunistic security companies sell threat intelligence services that allude to hunting for bad guys in dark dens that deal in organ harvesting, involuntary human experiments, and more. Like most people, I find the siren song of lurid, spooky bullshit to be irresistible. And the Dark Web's boogeyman aura is all about spooky bullshit. That's despite the fact that the Dark Web is host to a lot of communities that aren't doing anything nefarious (unless you think furries are evil; there's a huge Dark Web furry social network that simply wants privacy). But the organ harvesting dramatics are nothing until we get tothe"deepest part of the web, where people don't want you to go," the so-called "Mariana's Web." The legend of Mariana's Web appears to get its name from the deepest part of the ocean, Mariana's Trench. It's supposedly the deepest part of the web, a forbidden place of mysterious evil -- or at least, that's the mythos a subset of online believers has cultivated. Depending on where you get your Mariana's Web myths, it's where you'll find "thedarkest secretshumanity has in its history," thesecret locationof Atlantis and "the Vatican secret archives," or a database of archives belonging tothe most powerful intelligence agencieson Earth. Many believe that Mariana's is home to an all-powerful,female artificial intelligence entity. Mariana's Web is certainly the definition of spooky BS, especially because it's technically impossible; it's supposedly only accessible through quantum computers -- which currently only exist in science fiction. Yet to the chagrin of people who love facts, it's slowly starting to bereportedas fact. Copy or Embed This Whisper Direct Link Embed Download on theApp Store Download onGoogle Play Get App That's probably not a surprise if you've been watching infosec-challenged traditional media try to cover the finer points of hacking, let alone anything outside Google's reach. But seeing anecdotes and myth start to bubble up into areas that may affect people's actual decisions about risk and safety ... Well it's entertaining, but also worrying when anecdote is substituted for data in an area that often involves law enforcement. That infosec firm clients are asking for threat intelpackagesto include Mariana's Web is information that is also anecdotal, though it's my anecdote, and one I recently heard first-hand. But that new twist, my friends, isn't just the result of clickbait or security company sales drama -- it's the result ofthis fake infographic. An epic troll that people haveinterpreted as fact. I don't know why people don't read things carefully, or avoid fact checking, or want to believe in Atlantis and invisible beings. But I'm glad they do, because it sure makes doing research on dry-as-desert threat intel services way more entertaining. Fingers crossed that the TV take on the very fictional Mariana's Web comes fromThe X-Files, and notCSI: Cyber-- or CNN. [Image credit: Shutterstock] \|\| The unofficial Goldman Sachs guide to New Year’s resolutions: new york times square new year confetti (REUTERS/Keith Bedford) Workmen clean up confetti and garbage left from New Year celebrations in Times Square in New York January 1, 2013. Exercise. Read more. Save money. Travel. Those are the staple resolutions. But if it’s not that complicated, why are there so many fat, dumb, poor people who don’t even have passports? So, forget about all of the tired, regurgitated resolutions that you recycle unfulfilled year in and out. Here are twenty practical and realistic goals for 2016 that will fundamentally make your life better: Return your hoverboard. You look like a jackass Martin Shkreli. Write down your goals. Less than 10% of people fulfill their resolutions, but the ones who write them down have a much higher success rate. Take it a step further and make a list of what you want to accomplish each day, week, and month. Forget an app; go old school. Turn off Netflix at midnight. Just chill. Get a comprehensive health exam. If possible, from Donald Trump’s physician . Read more . Hardly an original idea, but it’s seldom accomplished. This year, try being specific. Make a list of 10-15 books - a healthy mix of fiction, non-fiction, and a few classics you should have read in college. I’ll get you started with Joseph Conrad’s Heart of Darkness , Mark Bowden’s Killing Pablo , Ron Chernow’s Alexander Hamilton , or this one. Stop drinking soda. While you are at, give up orange juice too. Instead, drink green tea with fresh ginger and manuka honey. It cancels out the ten drinks you had the night before. Stay in on Friday nights . Your weekend will become infinitely better, and your bank account will benefit too. It’s time to act like an adult; get drunk at brunch on Sundays instead. Invest in a Bitcoin wallet . Because it will be the best-performing currency in 2016 . Come back to Twitter . Sure, engagement is down and relevance has peaked. But there is still no better way to efficiently curate news and information. Spend more time with old people . The Greatest Generation now makes up less than 1% of the US population . Find a World War II veteran and take him to lunch from time to time. Plan regular FBTs (Fake Business Trips). Get away from your life for a few days to relax, and, if need be, let some bad out. It’ll make you a better partner and parent. Get promoted . Forget about LinkedIn; it’s the Match.com for the underemployed. Invite your seniors out, get them into a bar and network the old fashioned way. Freshen up your wardrobe . There’s a reason Michael Jordan wore a brand new pair of shoes every game. While you’re at it, donate your old clothes to Career Gea r or Dress for Succes s - non-profits that provide clothing and career guidance to low-income men and women. Take a class. Sign up with a friend to make it more fun and help you see it through. It could be anything - cooking, coding, or photography. The Nikon D810 SLR even comes with free classes. Forget about unrealistic health pledges. You don’t need some insane diet or detox regime. They don’t actually make you live longer. It just seems longer. Eat sensibly, drink in moderation, and exercise; it’s not rocket science. Laugh more . Socialize. Drink. Throw parties. Host drunken game nights. Upgrade your friends if necessary. It’s the life in your years, not the years in your life. Say no to fitness gimmicks . You don’t need to start taking the stairs or parking as far away from the Whole Foods entrance as possible. And don’t prepay for thirty personal training sessions. Take up a competitive sport instead. Remember that feeling as a kid when you’re on the field, not thinking about anything else? Most of us have forgotten how great that feels. So join a basketball league or find someone to play tennis with. And get some of these. Skip the dramatic savings scheme . Giving up the $5 daily latte? Bringing your lunch to work? That just makes you the office pariah. Don’t go crazy with anti-social or unrealistic goals. Keep it simple; spend less than you make, and save up for the big-ticket items until you can afford them. Declare the bedroom technology free. Does this even need an explanation? It means more time for reading, sleep, and sex. And go ahead and upgrade your mattress . We’re talking about 1/3rd of your life. Stay in on New Years Eve . It’s amateur night and it rarely lives up to your expectations anyhow. This year, stay home with a bottle of something nice. Then start January 1 early and productively. Story continues John LeFevre is the creator of @GSElevator on Twitter, and the author of the New York Times bestselling book, Straight To Hell: True Tales of Deviance, Debauchery, And Billion-Dollar Deals NOW WATCH: How the buying power of your dollar has changed over the past 60 years More From Business Insider This guy gave up sugar and got 80% of his calories from fat — here's what happened Donald Trump left Joe Scarborough stunned after being asked about Vladimir Putin killing journalists Here's the ISIS message the female San Bernardino shooter posted on Facebook during the attack \|\| The unofficial Goldman Sachs guide to New Year’s resolutions: (REUTERS/Keith Bedford)Workmen clean up confetti and garbage left from New Year celebrations in Times Square in New York January 1, 2013. Exercise. Read more. Save money. Travel. Those are the staple resolutions. But if it’s not that complicated, why are there so many fat, dumb, poor people who don’t even have passports? So, forget about all of the tired, regurgitated resolutions that you recycle unfulfilled year in and out. Here are twenty practical and realistic goals for 2016 that will fundamentally make your life better: • Return your hoverboard.You look likeajackassMartin Shkreli. • Write down your goals.Less than 10% of people fulfill their resolutions, but the ones who write them down have a much higher success rate. Take it a step further and make a list of what you want to accomplish each day, week, and month. Forget an app;go old school. • Turn off Netflix at midnight.Just chill. • Get a comprehensive health exam.If possible, fromDonald Trump’s physician. • Read more. Hardly an original idea, but it’s seldom accomplished. This year, try being specific. Make a list of 10-15 books - a healthy mix of fiction, non-fiction, and a few classics you should have read in college. I’ll get you started with Joseph Conrad’sHeart of Darkness, Mark Bowden’sKilling Pablo, Ron Chernow’sAlexander Hamilton, orthis one. • Stop drinking soda.While you are at, give up orange juice too. Instead, drink green tea with fresh ginger and manuka honey. It cancels out the ten drinks you had the night before. • Stay in on Friday nights. Your weekend will become infinitely better, and your bank account will benefit too. It’s time to act like an adult; get drunk at brunch on Sundays instead. • Invest in a Bitcoin wallet. Because it will be the best-performingcurrency in 2016. • Come back to Twitter. Sure, engagement is down and relevance has peaked. But there is still no better way to efficiently curate news and information. • Spend more time with old people. The Greatest Generation now makes up less than1% of the US population. Find aWorld War II veteranand take him to lunch from time to time. • Plan regular FBTs (Fake Business Trips).Get away from your life for a few days to relax, and, if need be, let some bad out. It’ll make you a better partner and parent. • Get promoted. Forget about LinkedIn; it’s the Match.com for the underemployed. Invite your seniors out, get them into a bar and network the old fashioned way. • Freshen up your wardrobe. There’s a reason Michael Jordan wore a brand new pair of shoes every game. While you’re at it, donate your old clothes toCareer GearorDress for Success- non-profits that provide clothing and career guidance to low-income men and women. • Take a class.Sign up with a friend to make it more fun and help you see it through. It could be anything - cooking, coding, or photography. TheNikon D810 SLReven comes with free classes. • Forget about unrealistic health pledges.You don’t need some insane diet or detox regime. They don’t actually make you live longer. It just seems longer. Eat sensibly, drink in moderation, and exercise; it’s not rocket science. • Laugh more. Socialize. Drink. Throw parties. Host drunken game nights. Upgrade your friends if necessary. It’s the life in your years, not the years in your life. • Say no to fitness gimmicks. You don’t need to start taking the stairs or parking as far away from the Whole Foods entrance as possible. And don’t prepay for thirty personal training sessions. Take up a competitive sport instead. Remember that feeling as a kid when you’re on the field, not thinking about anything else? Most of us have forgotten how great that feels. So join a basketball league or find someone to play tennis with. And get some ofthese. • Skip the dramatic savings scheme. Giving up the $5 daily latte? Bringing your lunch to work? That just makes you the office pariah. Don’t go crazy with anti-social or unrealistic goals. Keep it simple; spend less than you make, and save up for the big-ticket items until you can afford them. • Declare the bedroom technology free.Does this even need an explanation? It means more time for reading, sleep, and sex. And go ahead andupgrade your mattress. We’re talking about 1/3rd of your life. • Stay in on New Years Eve. It’s amateur night and it rarely lives up to your expectations anyhow. This year, stay home with a bottle of something nice. Then start January 1 early and productively. John LeFevreis the creator of@GSElevatoron Twitter, and the author of the New York Times bestselling book,Straight To Hell: True Tales of Deviance, Debauchery, And Billion-Dollar Deals NOW WATCH:How the buying power of your dollar has changed over the past 60 years More From Business Insider • This guy gave up sugar and got 80% of his calories from fat — here's what happened • Donald Trump left Joe Scarborough stunned after being asked about Vladimir Putin killing journalists • Here's the ISIS message the female San Bernardino shooter posted on Facebook during the attack \|\| Where do the presidential candidates stand on encryption? A handy guide: Photo: Getty Images In the wake of terrorist attacks here and abroad, candidates in the 2016 presidential race have shifted their attention to issues of national security. Many have proposed aggressive measures to confront ISIS, including bombing it “back to the Stone Age” (Sen. Ted Cruz, R-Texas) and banning Muslims from entering the country altogether (Donald Trump ) . But very few have articulated a clear position on how to prevent terrorist recruitment and plotting online. CNN’s Tuesday night Republican debate brought many of these issues to the table, raising questions about surveillance, who owns the Internet and — paramount to the tech world — encryption . Encryption — a way to encode information so that only the sender and the intended recipient can read it — has been central to a security versus privacy debate dubbed the Crypto Wars that dates back to the early 1990s. For years, intelligence officials have pointed to the technology as a significant obstacle in tracking nefarious activity online. Those complaints have only grown more insistent since the terrorist attacks in Paris and San Bernardino. Recently, FBI Director James Comey even suggested that major tech companies reconsider their business structure to intercept and pass on encrypted information when needed. And those pressures are sure to increase after French counterterrorism investigators announced that encrypted apps such as WhatsApp and Telegram may have been used to plot the Nov. 13 Paris attack. Virtually all tech companies and cryptographers argue that building any type of “backdoor” into these secure communications would undermine the purpose of the technology entirely, ultimately compromising public privacy and driving consumers to use unregulated international products. It’s something our next president will most definitely have to weigh in on. And though not every presidential candidate has offered a firm stance on the debate, they’ve definitely dropped hints. Below, a survey of those candidates who have acknowledged the issue of encryption and what they think about it. Story continues Democrats: Hillary Clinton The current Democratic frontrunner has discussed encryption regulation several times, though we still don’t know how she feels about it. In a conversation with Re/code’s Kara Swisher in June, she said Silicon Valley needs to sit down with legislators and have a “real conversation” about ways to get around encryption to combat online terrorist activity. Then she waffled, admitting it was a “hard choice” and that “there are really strong, legitimate arguments on both sides.” During a speech at the Brookings Institution in December, Clinton threw around more vague platitudes, requesting an “urgent dialogue” between industry giants and law enforcement officials about tackling terrorists online, appealing to Silicon Valley to “disrupt ISIS.” Her voting record, however, offers a clearer picture of her stance on privacy tech. As a New York senator in 2001, Clinton supported the Patriot Act , which authorized expanded government surveillance to monitor phone and email communications, collect bank and credit card records and track Internet activity. As provisions under that act were set to expire this year, she endorsed a bill that re-upped and modified that surveillance program, ending the NSA’s bulk metadata collection but maintaining other forms of surveillance. At the same time, she said the Cybersecurity Information Sharing Act, which allows the sharing of Internet traffic information between the government and tech companies, “ doesn’t go far enough ,” in protecting us from foreign hackers. So, it seems Clinton has a history of siding with the surveyors, and not the surveilled. Bernie Sanders Maintaining a steadfast focus on economic and social justice issues during his presidential campaign, Sanders hasn’t spent much time battling mass surveillance. But his record signals that he’s much more concerned than Clinton about protecting citizen’s privacy. Just as he voted against the Patriot Act, he rejected the USA Freedom Act this June, arguing that it didn’t “go far enough in protecting our privacy rights.” “I worry that we are moving toward an Orwellian form of society, where Big Brother — whether in the corporate world, or the government — knows too much information about the private lives of innocent people,” he told Yahoo Global News Anchor Katie Couric in June. Though that’s not an outright condemnation of building back doors into encrypted communications for the purpose of government surveillance, it’s very close. Martin O’Malley Photo: Cheryl Senter/AP The Democratic Party’s third wheel addressed encryption, however noncommittally, in an op-ed for the New York Daily News , calling for “greater public-private collaboration on how we can prevent terrorists from exploiting encryption, which has enabled them to ‘go dark’ well before they strike.” Ultimately that concern for security is likely what pushed O’Malley to support the USA Freedom Act . However, he said he “would like to see us go further” when it comes to limiting the government’s ability to conduct surveillance on citizens. So it seems he’s conflicted in this area. Republicans: Jeb Bush: Photo: John Locher/AP Jeb Bush more or less condemned the use of encryption in August: “If you create encryption, it makes it harder for the American government to do its job — while protecting civil liberties — to make sure that evildoers aren’t in our midst,” he said at an event sponsored by a military contractor-affiliated group named Americans for Peace, Prosperity, and Security . Rand Paul Paul has positioned himself as one of the most tech-savvy candidates of the 2016 presidential race, hosting hack-a-thons and accepting donations via Bitcoin . So it’s no surprise that he has a lot to say about the proposal to limit encryption. In an interview with Yahoo News’ Olivier Knox in November, he supported public use of the technology and echoed the security concerns of many cryptographers and activists. “The head of the FBI came out with this recently, he says, ‘Oh, we’re going to ban encryption.’ And it’s like we want to build a backdoor into Facebook and a backdoor into Apple products,” Paul said at the Yahoo Politics Digital Democracy Conference . “A backdoor means that the government can look at your stuff, look at your information, your conversations. … The moment you build an opening — and I’m not an expert on coding or anything, but the moment you give a vulnerability to a code that someone can get into your source code, not only can the government, but so can your enemies, so can foreign governments.” This comes as no surprise, as Paul has challenged the provisions of the Patriot Act in the past, and recently compared banning encryption to banning guns . Carly Fiorina Photo: John Locher/AP During the first GOP debate, Carly Fiorina was asked whether Google and Apple should cooperate with the U.S. government to weaken encryption so criminals can’t hide behind it. In response, the former Hewlett-Packard CEO made up a new word . “We need to tear down cyberwalls,” she said, referring, one can only assume, to encryption. “We could have detected and repelled some of those cyberattacks” if we had passed “a law [that] has been sitting, languishing, sadly, on Capitol Hill.” Just this week, she clarified her stance in an interview with Breitbart News . “You can’t outlaw encryption,” she said. “Encryption protects American consumers from identity theft, and all the rest of it. But we have to be able to work around it when necessary to give our investigators the information they need.” Fiorina reiterated this strategy, which some experts say is wholly infeasible, at the debate on Tuesday, solidifying her willingness to compromise the security of encryption in the wake of terrorist threats. Lindsey Graham Photo: Mike Blake/Reuters Graham followed up on Fiorina’s remarks at the first Republican debate by declaring “if I have to tear down a cyberwall, I’ll tear down a cyberwall.” But the South Carolina senator’s past comments about technology may be reason to question whether he knows what tearing down that cyberwall would entail. In March, Graham said he’d never sent an email . Adding: “I don’t know what that makes me.” In this case, it makes him a person who probably doesn’t know much about the encryption debate. However, those who contribute to his campaign can rest assured that the governor’s website processes each credit card transaction “using encrypted code.” John Kasich Tuesday’s debate gave the Ohio governor an opportunity to blame encryption for our lack of prior intelligence in terrorist attacks. “There is a big problem, it’s called encryption,” he said. “The people in San Bernardino were communicating with people who the FBI had been watching, but because their phone was encrypted, because intelligence officials could not see who they were talking to, it was lost. … We need to be able to penetrate these people when they’re involved in these plots and these plans, and we have to give the local authorities the ability to penetrate in this route. Encryption is a major problem and Congress has got to deal with this, and so does the president, to keep us safe.” Kasich’s suggestion that we could not access the San Bernardino shooters’ phone conversations because their phone was encrypted is somewhat misleading. Kasich was referring to a CBS News tweet that quoted a “senior law enforcement official” who said investigators had found “levels of built-in encryption” in Syed Farook and Tashfeen Malik’s phones. Virtually all modern phones in the United States come out of the box with “levels of built-in encryption,” otherwise criminals would be able to intercept your calls whenever your phone connected to a cellular tower. Not to mention, if your phone was stolen, anyone would be able to access your sensitive information. Whether Kasich is confused by that point, or simply using it as an example to explain why all encryption is dangerous, is unclear. But there’s no question that he’s willing to significantly downgrade the security of devices to be sure nothing gets past intelligence officials. George Pataki During Tuesday night’s undercard debate, the former New York governor said that, as president, he would pass “a law on tech firms to prevent encryption.” In clarifying his position, he provided suggestions similar to Fiorina’s. “Companies are entitled to encrypt and protect their knowledge and their intelligence,” he said. “But what we need is a backdoor for law enforcement to be able — when they can establish that that communication poses a risk to our safety and engages in terrorism — to get a court order and go in and access those communications. Allow the companies to continue encryption, provide an entryway for law enforcement when they can prove to a court that there’s a sufficient risk, when there’s an attack upon us, that they have the right to look at those messages.” Marco Rubio Photo: John Locher/AP Rubio has made it clear that he wants the federal government and the private sector to share more information as a way to prevent cyber- and terrorist attacks. He’s also publicly supported the Foreign Intelligence Surveillance Act . And during Tuesday’s debate, he doubled down on his commitment to mass surveillance. “We are now at a time where we need more tools, not less tools,” the Florida senator said , criticizing the limits on metadata collection in the USA Freedom Act. Rubio’s willingness to expand programs that collect the private information of Americans signals an apparent willingness to compromise encryption for the same reasons. Ted Cruz Photo: John Locher/AP The Texas senator has towed a libertarian line when it comes to surveillance legislation in the past. As a candidate whose campaign runs on an explicit distrust of big government, it makes sense that Cruz would vote for the USA Freedom Act — a move that has earned him scorn from Rubio. During Tuesday’s debate, he argued that the bill’s mandate to transfer mass phone data collection from the NSA to phone companies actually gave more tools to pinpoint terror threats. However, cybersecurity activists worry that Cruz is uneducated on the intricacies of these policies, after an Oct. 15 video surfaced of the senator admitting to a crowd in Iowa that he was unfamiliar with CISA — a bill that critics say allows companies to monitor their customers and share their information with the government without warrant. Donald Trump Photo: John Locher/AP Trump has made many a reference to building walls, and some of them even appear to be cyber in nature. Though the Republican presidential frontrunner has not explicitly addressed encryption issues, he has suggested we shut off ISIS’ Internet connection, and expressed concern that the group is “using the Internet better than we are,” despite the fact that it “was our idea.” During the debate, he elaborated as best he could. “I wanted to get our brilliant people from Silicon Valley and other places and figure out a way that ISIS cannot do what they’re doing,” he said . “You talk freedom of speech, you talk freedom of anything you want. I don’t want them using our Internet to take our young impressionable youth.” Trump could be referring to the issue of encryption, or something much simpler. But anyone who’s willing to ban a world religion from the country might be willing to do the same for an essential element of consumer technology. Ben Carson Photo: Mike Blake/Reuters The retired brain surgeon has made virtually no mention of encryption on the campaign trail. But when it comes to assuring potential donors that their credit card information is safe, his website has a whole page on it: “Carson America uses a secure socket layer (SSL) with the highest level of encryption commercially available for www.bencarson.com on pages where online visitors register or make a secure online donation using their credit card.” That being said, Carson has said he’s open to the surveillance of mosques, churches and schools. Who knows whether that would entail the compromise of encryption technology? Chris Christie Photo: John Locher/AP In early 2015, Christie signed a law that required health insurance companies in New Jersey to encrypt client information, signaling he understands its importance. Still, the New Jersey governor has made his support for the NSA and government surveillance very clear, praising the provisions in the Patriot Act, and calling for the extension of intelligence-gathering capabilities. The fact that he’s publicly criticized Edward Snowden, and sparred with Rand Paul about these issues suggests he’d overhaul encryption if that meant even a hint of access to potential terrorist activity. Rick Santorum Photo: Mike Blake/Reuters Though the former senator from Pennsylvania has made no explicit mention of encryption, his voting record speaks for itself. Santorum voted for the Patriot Act in 2001, and said he’d do it again today. He’s also criticized Paul’s stance on the issue, saying “hopefully Rand Paul won’t prevail, that the Senate will do what it must do, which is to keep our defenses up and follow through with a plan that balances the interests,” Santorum replied. “It’s always a [balance] between security and freedom, and that’s in every aspect of our [lives].” That balance would likely mean that he’d prefer the government has access to encrypted communication for the sake of national security. Mike Huckabee Photo: Mike Blake/Reuters Huckabee, though not the race’s expert on online surveillance, has most definitely been vocal about the issue. He’s been known to publicly criticize unregulated monitoring by the NSA , arguing that the Patriot Act has gone too far. The former Arkansas governor has even said he’d repeal “Obama’s warrantless NSA spying program” if he became president. However, his comments about cybersecurity have caused experts to question his technological knowledge of the government’s digital capabilities in general. So, though he’s made no explicit mention of encryption, it’s possible that he, like so many other candidates, might not understand it. Related: Following Paris attacks, encryption services face new scrutiny Here’s the manual ISIS uses to teach its soldiers about encryption How encryption works and why people are so freaked out about it \|\| Where do the presidential candidates stand on encryption? A handy guide: Photo: Getty Images In the wake of terrorist attacks here and abroad, candidates in the 2016 presidential race have shifted their attention to issues of national security. Many have proposed aggressive measures to confront ISIS, including bombing it “back to the Stone Age” (Sen. Ted Cruz, R-Texas) and banning Muslims from entering the country altogether (Donald Trump ) . But very few have articulated a clear position on how to prevent terrorist recruitment and plotting online. CNN’s Tuesday night Republican debate brought many of these issues to the table, raising questions about surveillance, who owns the Internet and — paramount to the tech world — encryption . Encryption — a way to encode information so that only the sender and the intended recipient can read it — has been central to a security versus privacy debate dubbed the Crypto Wars that dates back to the early 1990s. For years, intelligence officials have pointed to the technology as a significant obstacle in tracking nefarious activity online. Those complaints have only grown more insistent since the terrorist attacks in Paris and San Bernardino. Recently, FBI Director James Comey even suggested that major tech companies reconsider their business structure to intercept and pass on encrypted information when needed. And those pressures are sure to increase after French counterterrorism investigators announced that encrypted apps such as WhatsApp and Telegram may have been used to plot the Nov. 13 Paris attack. Virtually all tech companies and cryptographers argue that building any type of “backdoor” into these secure communications would undermine the purpose of the technology entirely, ultimately compromising public privacy and driving consumers to use unregulated international products. It’s something our next president will most definitely have to weigh in on. And though not every presidential candidate has offered a firm stance on the debate, they’ve definitely dropped hints. Below, a survey of those candidates who have acknowledged the issue of encryption and what they think about it. Story continues Democrats: Hillary Clinton The current Democratic frontrunner has discussed encryption regulation several times, though we still don’t know how she feels about it. In a conversation with Re/code’s Kara Swisher in June, she said Silicon Valley needs to sit down with legislators and have a “real conversation” about ways to get around encryption to combat online terrorist activity. Then she waffled, admitting it was a “hard choice” and that “there are really strong, legitimate arguments on both sides.” During a speech at the Brookings Institution in December, Clinton threw around more vague platitudes, requesting an “urgent dialogue” between industry giants and law enforcement officials about tackling terrorists online, appealing to Silicon Valley to “disrupt ISIS.” Her voting record, however, offers a clearer picture of her stance on privacy tech. As a New York senator in 2001, Clinton supported the Patriot Act , which authorized expanded government surveillance to monitor phone and email communications, collect bank and credit card records and track Internet activity. As provisions under that act were set to expire this year, she endorsed a bill that re-upped and modified that surveillance program, ending the NSA’s bulk metadata collection but maintaining other forms of surveillance. At the same time, she said the Cybersecurity Information Sharing Act, which allows the sharing of Internet traffic information between the government and tech companies, “ doesn’t go far enough ,” in protecting us from foreign hackers. So, it seems Clinton has a history of siding with the surveyors, and not the surveilled. Bernie Sanders Maintaining a steadfast focus on economic and social justice issues during his presidential campaign, Sanders hasn’t spent much time battling mass surveillance. But his record signals that he’s much more concerned than Clinton about protecting citizen’s privacy. Just as he voted against the Patriot Act, he rejected the USA Freedom Act this June, arguing that it didn’t “go far enough in protecting our privacy rights.” “I worry that we are moving toward an Orwellian form of society, where Big Brother — whether in the corporate world, or the government — knows too much information about the private lives of innocent people,” he told Yahoo Global News Anchor Katie Couric in June. Though that’s not an outright condemnation of building back doors into encrypted communications for the purpose of government surveillance, it’s very close. Martin O’Malley Photo: Cheryl Senter/AP The Democratic Party’s third wheel addressed encryption, however noncommittally, in an op-ed for the New York Daily News , calling for “greater public-private collaboration on how we can prevent terrorists from exploiting encryption, which has enabled them to ‘go dark’ well before they strike.” Ultimately that concern for security is likely what pushed O’Malley to support the USA Freedom Act . However, he said he “would like to see us go further” when it comes to limiting the government’s ability to conduct surveillance on citizens. So it seems he’s conflicted in this area. Republicans: Jeb Bush: Photo: John Locher/AP Jeb Bush more or less condemned the use of encryption in August: “If you create encryption, it makes it harder for the American government to do its job — while protecting civil liberties — to make sure that evildoers aren’t in our midst,” he said at an event sponsored by a military contractor-affiliated group named Americans for Peace, Prosperity, and Security . Rand Paul Paul has positioned himself as one of the most tech-savvy candidates of the 2016 presidential race, hosting hack-a-thons and accepting donations via Bitcoin . So it’s no surprise that he has a lot to say about the proposal to limit encryption. In an interview with Yahoo News’ Olivier Knox in November, he supported public use of the technology and echoed the security concerns of many cryptographers and activists. “The head of the FBI came out with this recently, he says, ‘Oh, we’re going to ban encryption.’ And it’s like we want to build a backdoor into Facebook and a backdoor into Apple products,” Paul said at the Yahoo Politics Digital Democracy Conference . “A backdoor means that the government can look at your stuff, look at your information, your conversations. … The moment you build an opening — and I’m not an expert on coding or anything, but the moment you give a vulnerability to a code that someone can get into your source code, not only can the government, but so can your enemies, so can foreign governments.” This comes as no surprise, as Paul has challenged the provisions of the Patriot Act in the past, and recently compared banning encryption to banning guns . Carly Fiorina Photo: John Locher/AP During the first GOP debate, Carly Fiorina was asked whether Google and Apple should cooperate with the U.S. government to weaken encryption so criminals can’t hide behind it. In response, the former Hewlett-Packard CEO made up a new word . “We need to tear down cyberwalls,” she said, referring, one can only assume, to encryption. “We could have detected and repelled some of those cyberattacks” if we had passed “a law [that] has been sitting, languishing, sadly, on Capitol Hill.” Just this week, she clarified her stance in an interview with Breitbart News . “You can’t outlaw encryption,” she said. “Encryption protects American consumers from identity theft, and all the rest of it. But we have to be able to work around it when necessary to give our investigators the information they need.” Fiorina reiterated this strategy, which some experts say is wholly infeasible, at the debate on Tuesday, solidifying her willingness to compromise the security of encryption in the wake of terrorist threats. Lindsey Graham Photo: Mike Blake/Reuters Graham followed up on Fiorina’s remarks at the first Republican debate by declaring “if I have to tear down a cyberwall, I’ll tear down a cyberwall.” But the South Carolina senator’s past comments about technology may be reason to question whether he knows what tearing down that cyberwall would entail. In March, Graham said he’d never sent an email . Adding: “I don’t know what that makes me.” In this case, it makes him a person who probably doesn’t know much about the encryption debate. However, those who contribute to his campaign can rest assured that the governor’s website processes each credit card transaction “using encrypted code.” John Kasich Tuesday’s debate gave the Ohio governor an opportunity to blame encryption for our lack of prior intelligence in terrorist attacks. “There is a big problem, it’s called encryption,” he said. “The people in San Bernardino were communicating with people who the FBI had been watching, but because their phone was encrypted, because intelligence officials could not see who they were talking to, it was lost. … We need to be able to penetrate these people when they’re involved in these plots and these plans, and we have to give the local authorities the ability to penetrate in this route. Encryption is a major problem and Congress has got to deal with this, and so does the president, to keep us safe.” Kasich’s suggestion that we could not access the San Bernardino shooters’ phone conversations because their phone was encrypted is somewhat misleading. Kasich was referring to a CBS News tweet that quoted a “senior law enforcement official” who said investigators had found “levels of built-in encryption” in Syed Farook and Tashfeen Malik’s phones. Virtually all modern phones in the United States come out of the box with “levels of built-in encryption,” otherwise criminals would be able to intercept your calls whenever your phone connected to a cellular tower. Not to mention, if your phone was stolen, anyone would be able to access your sensitive information. Whether Kasich is confused by that point, or simply using it as an example to explain why all encryption is dangerous, is unclear. But there’s no question that he’s willing to significantly downgrade the security of devices to be sure nothing gets past intelligence officials. George Pataki During Tuesday night’s undercard debate, the former New York governor said that, as president, he would pass “a law on tech firms to prevent encryption.” In clarifying his position, he provided suggestions similar to Fiorina’s. “Companies are entitled to encrypt and protect their knowledge and their intelligence,” he said. “But what we need is a backdoor for law enforcement to be able — when they can establish that that communication poses a risk to our safety and engages in terrorism — to get a court order and go in and access those communications. Allow the companies to continue encryption, provide an entryway for law enforcement when they can prove to a court that there’s a sufficient risk, when there’s an attack upon us, that they have the right to look at those messages.” Marco Rubio Photo: John Locher/AP Rubio has made it clear that he wants the federal government and the private sector to share more information as a way to prevent cyber- and terrorist attacks. He’s also publicly supported the Foreign Intelligence Surveillance Act . And during Tuesday’s debate, he doubled down on his commitment to mass surveillance. “We are now at a time where we need more tools, not less tools,” the Florida senator said , criticizing the limits on metadata collection in the USA Freedom Act. Rubio’s willingness to expand programs that collect the private information of Americans signals an apparent willingness to compromise encryption for the same reasons. Ted Cruz Photo: John Locher/AP The Texas senator has towed a libertarian line when it comes to surveillance legislation in the past. As a candidate whose campaign runs on an explicit distrust of big government, it makes sense that Cruz would vote for the USA Freedom Act — a move that has earned him scorn from Rubio. During Tuesday’s debate, he argued that the bill’s mandate to transfer mass phone data collection from the NSA to phone companies actually gave more tools to pinpoint terror threats. However, cybersecurity activists worry that Cruz is uneducated on the intricacies of these policies, after an Oct. 15 video surfaced of the senator admitting to a crowd in Iowa that he was unfamiliar with CISA — a bill that critics say allows companies to monitor their customers and share their information with the government without warrant. Donald Trump Photo: John Locher/AP Trump has made many a reference to building walls, and some of them even appear to be cyber in nature. Though the Republican presidential frontrunner has not explicitly addressed encryption issues, he has suggested we shut off ISIS’ Internet connection, and expressed concern that the group is “using the Internet better than we are,” despite the fact that it “was our idea.” During the debate, he elaborated as best he could. “I wanted to get our brilliant people from Silicon Valley and other places and figure out a way that ISIS cannot do what they’re doing,” he said . “You talk freedom of speech, you talk freedom of anything you want. I don’t want them using our Internet to take our young impressionable youth.” Trump could be referring to the issue of encryption, or something much simpler. But anyone who’s willing to ban a world religion from the country might be willing to do the same for an essential element of consumer technology. Ben Carson Photo: Mike Blake/Reuters The retired brain surgeon has made virtually no mention of encryption on the campaign trail. But when it comes to assuring potential donors that their credit card information is safe, his website has a whole page on it: “Carson America uses a secure socket layer (SSL) with the highest level of encryption commercially available for www.bencarson.com on pages where online visitors register or make a secure online donation using their credit card.” That being said, Carson has said he’s open to the surveillance of mosques, churches and schools. Who knows whether that would entail the compromise of encryption technology? Chris Christie Photo: John Locher/AP In early 2015, Christie signed a law that required health insurance companies in New Jersey to encrypt client information, signaling he understands its importance. Still, the New Jersey governor has made his support for the NSA and government surveillance very clear, praising the provisions in the Patriot Act, and calling for the extension of intelligence-gathering capabilities. The fact that he’s publicly criticized Edward Snowden, and sparred with Rand Paul about these issues suggests he’d overhaul encryption if that meant even a hint of access to potential terrorist activity. Rick Santorum Photo: Mike Blake/Reuters Though the former senator from Pennsylvania has made no explicit mention of encryption, his voting record speaks for itself. Santorum voted for the Patriot Act in 2001, and said he’d do it again today. He’s also criticized Paul’s stance on the issue, saying “hopefully Rand Paul won’t prevail, that the Senate will do what it must do, which is to keep our defenses up and follow through with a plan that balances the interests,” Santorum replied. “It’s always a [balance] between security and freedom, and that’s in every aspect of our [lives].” That balance would likely mean that he’d prefer the government has access to encrypted communication for the sake of national security. Mike Huckabee Photo: Mike Blake/Reuters Huckabee, though not the race’s expert on online surveillance, has most definitely been vocal about the issue. He’s been known to publicly criticize unregulated monitoring by the NSA , arguing that the Patriot Act has gone too far. The former Arkansas governor has even said he’d repeal “Obama’s warrantless NSA spying program” if he became president. However, his comments about cybersecurity have caused experts to question his technological knowledge of the government’s digital capabilities in general. So, though he’s made no explicit mention of encryption, it’s possible that he, like so many other candidates, might not understand it. Related: Following Paris attacks, encryption services face new scrutiny Here’s the manual ISIS uses to teach its soldiers about encryption How encryption works and why people are so freaked out about it \|\| Natural Gas At 10-Year Low: One Way To Play Further Downside: • Gas is trading at its lowest level since 1999, driven by worries about weak demand. • At the New York Mercantile Exchange, the January Nymex price stood around $1.804 per million British thermal units (MMBtu) on Wednesday afternoon. • Is there further downside left? If so, how can traders play it? Bull spreads might offer an interesting option. What Are Bull Spreads? Spreads "offer built-in floor and ceiling levels that define the lowest and highest points at which the trade can settle," Nadex . In other words, traders know how much they can gain or lose from the outset, thus limiting the risk. Related Link:Trade Options? Here's How To Get Involved In Bitcoin How To Trade Natural Gas With Bull Spreads In the following example, the underlying natural gas futures market is trading around 1.9 and a trader decides to consider a daily Bull Spread. This trader believes the price of natural gas will fall in the short-term, so he chooses a Daily Bull Spread that looks something like:Natural Gas 1.000-2.000 (2:30PM). Since this trader believes the natural gas future will be below 1.9 at 2:30 p.m., he chooses to Sell the contact. Thus, he selects two contracts at the bid price of 1.9. "Each pip the price moves is worth $1 per point," Nadex explains. His Maximum Profit and Loss are displayed automatically. His trade's "floor" is 1.000 and his "ceiling" is 2.000. He will then monitor the trade and, when his position expires at 2:30 p.m., the difference between Nadex's calculated expiration value and his opening price of 1.9 will determine his profit or loss. Disclosure: Javier Hasse holds no positions in any of the securities mentioned above. See more from Benzinga • Think Energy Has More Downside? Here Are Two Ways To Play It © 2015 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. \|\| Natural Gas At 10-Year Low: One Way To Play Further Downside: Gas is trading at its lowest level since 1999, driven by worries about weak demand. At the New York Mercantile Exchange, the January Nymex price stood around $1.804 per million British thermal units (MMBtu) on Wednesday afternoon. Is there further downside left? If so, how can traders play it? Bull spreads might offer an interesting option. What Are Bull Spreads? Spreads "offer built-in floor and ceiling levels that define the lowest and highest points at which the trade can settle," Nadex . In other words, traders know how much they can gain or lose from the outset, thus limiting the risk. Related Link: Trade Options? Here's How To Get Involved In Bitcoin How To Trade Natural Gas With Bull Spreads In the following example, the underlying natural gas futures market is trading around 1.9 and a trader decides to consider a daily Bull Spread. This trader believes the price of natural gas will fall in the short-term, so he chooses a Daily Bull Spread that looks something like: Natural Gas 1.000-2.000 (2:30PM) . Since this trader believes the natural gas future will be below 1.9 at 2:30 p.m., he chooses to Sell the contact. Thus, he selects two contracts at the bid price of 1.9. "Each pip the price moves is worth $1 per point," Nadex explains. His Maximum Profit and Loss are displayed automatically. His trade's "floor" is 1.000 and his "ceiling" is 2.000. He will then monitor the trade and, when his position expires at 2:30 p.m., the difference between Nadex's calculated expiration value and his opening price of 1.9 will determine his profit or loss. Disclosure: Javier Hasse holds no positions in any of the securities mentioned above. See more from Benzinga Think Energy Has More Downside? Here Are Two Ways To Play It © 2015 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. \|\| Kenya’s central bank is taking out newspapers ads to warn against buying Bitcoin: The safest way to transfer money. The Central Bank of Kenya took out local newspaper ads this week to warn citizens of the dangers of crypto-currencies like Bitcoin. CBK – “Bitcoin and similar products are not legal tender nor are they regulated in Kenya” #statusquo pic.twitter.com/mdmkxTGMUx — Winter soldier (@Neloversion) December 15, 2015 Among the concerns it raises: Once again, Norway has been voted the best country in the world for humans Virtual currencies are traded in exchange platforms that tend to be unregulated all over the world. Consumers may therefore lose their money without having any legal redress in the event these exchanges collapse or close business. The public should therefore desist from transacting in Bitcoin and similar products. The CBK isn’t just following the lead of other governments that have warned citizens to steer clear of the unregulated virtual currency. It also is wading into a widening spat between the country’s dominant telecom, Safaricom, and an upstart remittances company that uses Bitcoin, called Bitpesa. Bitpesa and another start up, Lipisha, are both suing Safaricom for intimidation and cessation of service without notice for blocking their access to Safaricom’s widely used mobile money platform, Mpesa. The day before the central bank’s ad appeared, a Kenyan High Court judge ruled that Safaricom does not have to grant Bitpesa and its partner access while the court case proceeds. Ironically, the fight is between two companies that are both using technology to improve life for Africa’s emerging but still disadvantaged middle and working classes. Mpesa enables customers—including millions who are “unbanked”—to transfer, use, or store cash on their cell phones. It has helped raise the rate of Kenyan adults with access to formal financial services from to 67% in 2014, up from 41% in 2009. The platform also is being used for a range of other projects, from improving healthcare to giving rural areas access to solar power . Story continues Bitpesa, founded by former development professionals working in micro-finance, aims to reduce the high cost of money transfers for Africans living and working away from home. Africans spend double the global average rate to send remittances. Through Bitpesa, users can transfer bitcoin and then convert it into Kenyan shillings. The two-year-old company has raised more than $1.7 million from investors. “We were fans of the innovation that Safaricom first shared with Kenya and the region back in 2007-2009, and we watched as other companies built upon this first mobile money network, with iterations taking the technology to places Safaricom alone could never go,” Bitpesa co-founder Elizabeth Rossiello wrote in a Dec. 14 blog post . The debate over how to regulate Bitcoin also encapsulates the competing interests of innovation and status quo in a country that is dubbed East Africa’s “Silicon Savannah.” Safaricom, founded in 1997, is one of the country’s most established telecom firms and its largest mobile network provider. It has defended its decision to block Bitpesa by saying the startup does not meet anti-money-laundering laws. (Bitpesa counters that it does not fall under such regulations.) Observers point out the fact that Safaricom is also entering the remittances industry with a partnership between South Africa’s MTN Group and its parent company Vodafone that will allow users in both networks , which covers most of east and central Africa, to transfer money across the region on their phones. One of Bitpesa’s board members and investors, Joseph Mucheru has been nominated to be the country’s cabinet secretary for information and communications technology. He has said that once he is sworn in he will divest from the company, but his views are clear. He told a local newspaper , “It will be a sad day if we fail to embrace this because we are afraid. Kenya cannot be the tech hub of Africa if our own regulations stifle innovation.” But at least for now, Kenya’s central bank seems to think the caution is worth the tradeoff. Sign up for the Quartz Africa Weekly Brief — the most important and interesting news from across the continent, in your inbox. Sign up for the Quartz Daily Brief , our free daily newsletter with the world’s most important and interesting news. More stories from Quartz: Most of the information we spread online is quantifiably “bullshit” This simple negotiation tactic brought 195 countries to consensus \|\| Kenya’s central bank is taking out newspapers ads to warn against buying Bitcoin: The safest way to transfer money. The Central Bank of Kenya took out local newspaper ads this week to warn citizens of the dangers of crypto-currencies like Bitcoin. CBK – “Bitcoin and similar products are not legal tender nor are they regulated in Kenya” #statusquo pic.twitter.com/mdmkxTGMUx — Winter soldier (@Neloversion) December 15, 2015 Among the concerns it raises: Once again, Norway has been voted the best country in the world for humans Virtual currencies are traded in exchange platforms that tend to be unregulated all over the world. Consumers may therefore lose their money without having any legal redress in the event these exchanges collapse or close business. The public should therefore desist from transacting in Bitcoin and similar products. The CBK isn’t just following the lead of other governments that have warned citizens to steer clear of the unregulated virtual currency. It also is wading into a widening spat between the country’s dominant telecom, Safaricom, and an upstart remittances company that uses Bitcoin, called Bitpesa. Bitpesa and another start up, Lipisha, are both suing Safaricom for intimidation and cessation of service without notice for blocking their access to Safaricom’s widely used mobile money platform, Mpesa. The day before the central bank’s ad appeared, a Kenyan High Court judge ruled that Safaricom does not have to grant Bitpesa and its partner access while the court case proceeds. Ironically, the fight is between two companies that are both using technology to improve life for Africa’s emerging but still disadvantaged middle and working classes. Mpesa enables customers—including millions who are “unbanked”—to transfer, use, or store cash on their cell phones. It has helped raise the rate of Kenyan adults with access to formal financial services from to 67% in 2014, up from 41% in 2009. The platform also is being used for a range of other projects, from improving healthcare to giving rural areas access to solar power . Story continues Bitpesa, founded by former development professionals working in micro-finance, aims to reduce the high cost of money transfers for Africans living and working away from home. Africans spend double the global average rate to send remittances. Through Bitpesa, users can transfer bitcoin and then convert it into Kenyan shillings. The two-year-old company has raised more than $1.7 million from investors. “We were fans of the innovation that Safaricom first shared with Kenya and the region back in 2007-2009, and we watched as other companies built upon this first mobile money network, with iterations taking the technology to places Safaricom alone could never go,” Bitpesa co-founder Elizabeth Rossiello wrote in a Dec. 14 blog post . The debate over how to regulate Bitcoin also encapsulates the competing interests of innovation and status quo in a country that is dubbed East Africa’s “Silicon Savannah.” Safaricom, founded in 1997, is one of the country’s most established telecom firms and its largest mobile network provider. It has defended its decision to block Bitpesa by saying the startup does not meet anti-money-laundering laws. (Bitpesa counters that it does not fall under such regulations.) Observers point out the fact that Safaricom is also entering the remittances industry with a partnership between South Africa’s MTN Group and its parent company Vodafone that will allow users in both networks , which covers most of east and central Africa, to transfer money across the region on their phones. One of Bitpesa’s board members and investors, Joseph Mucheru has been nominated to be the country’s cabinet secretary for information and communications technology. He has said that once he is sworn in he will divest from the company, but his views are clear. He told a local newspaper , “It will be a sad day if we fail to embrace this because we are afraid. Kenya cannot be the tech hub of Africa if our own regulations stifle innovation.” But at least for now, Kenya’s central bank seems to think the caution is worth the tradeoff. Sign up for the Quartz Africa Weekly Brief — the most important and interesting news from across the continent, in your inbox. Sign up for the Quartz Daily Brief , our free daily newsletter with the world’s most important and interesting news. More stories from Quartz: Most of the information we spread online is quantifiably “bullshit” This simple negotiation tactic brought 195 countries to consensus \|\| Kenya’s central bank is taking out newspapers ads to warn against buying Bitcoin: The safest way to transfer money. The Central Bank of Kenya took out local newspaper ads this week to warn citizens of the dangers of crypto-currencies like Bitcoin. CBK – “Bitcoin and similar products are not legal tender nor are they regulated in Kenya” #statusquo pic.twitter.com/mdmkxTGMUx — Winter soldier (@Neloversion) December 15, 2015 Among the concerns it raises: Once again, Norway has been voted the best country in the world for humans Virtual currencies are traded in exchange platforms that tend to be unregulated all over the world. Consumers may therefore lose their money without having any legal redress in the event these exchanges collapse or close business. The public should therefore desist from transacting in Bitcoin and similar products. The CBK isn’t just following the lead of other governments that have warned citizens to steer clear of the unregulated virtual currency. It also is wading into a widening spat between the country’s dominant telecom, Safaricom, and an upstart remittances company that uses Bitcoin, called Bitpesa. Bitpesa and another start up, Lipisha, are both suing Safaricom for intimidation and cessation of service without notice for blocking their access to Safaricom’s widely used mobile money platform, Mpesa. The day before the central bank’s ad appeared, a Kenyan High Court judge ruled that Safaricom does not have to grant Bitpesa and its partner access while the court case proceeds. Ironically, the fight is between two companies that are both using technology to improve life for Africa’s emerging but still disadvantaged middle and working classes. Mpesa enables customers—including millions who are “unbanked”—to transfer, use, or store cash on their cell phones. It has helped raise the rate of Kenyan adults with access to formal financial services from to 67% in 2014, up from 41% in 2009. The platform also is being used for a range of other projects, from improving healthcare to giving rural areas access to solar power . Story continues Bitpesa, founded by former development professionals working in micro-finance, aims to reduce the high cost of money transfers for Africans living and working away from home. Africans spend double the global average rate to send remittances. Through Bitpesa, users can transfer bitcoin and then convert it into Kenyan shillings. The two-year-old company has raised more than $1.7 million from investors. “We were fans of the innovation that Safaricom first shared with Kenya and the region back in 2007-2009, and we watched as other companies built upon this first mobile money network, with iterations taking the technology to places Safaricom alone could never go,” Bitpesa co-founder Elizabeth Rossiello wrote in a Dec. 14 blog post . The debate over how to regulate Bitcoin also encapsulates the competing interests of innovation and status quo in a country that is dubbed East Africa’s “Silicon Savannah.” Safaricom, founded in 1997, is one of the country’s most established telecom firms and its largest mobile network provider. It has defended its decision to block Bitpesa by saying the startup does not meet anti-money-laundering laws. (Bitpesa counters that it does not fall under such regulations.) Observers point out the fact that Safaricom is also entering the remittances industry with a partnership between South Africa’s MTN Group and its parent company Vodafone that will allow users in both networks , which covers most of east and central Africa, to transfer money across the region on their phones. One of Bitpesa’s board members and investors, Joseph Mucheru has been nominated to be the country’s cabinet secretary for information and communications technology. He has said that once he is sworn in he will divest from the company, but his views are clear. He told a local newspaper , “It will be a sad day if we fail to embrace this because we are afraid. Kenya cannot be the tech hub of Africa if our own regulations stifle innovation.” But at least for now, Kenya’s central bank seems to think the caution is worth the tradeoff. Sign up for the Quartz Africa Weekly Brief — the most important and interesting news from across the continent, in your inbox. Sign up for the Quartz Daily Brief , our free daily newsletter with the world’s most important and interesting news. More stories from Quartz: Most of the information we spread online is quantifiably “bullshit” This simple negotiation tactic brought 195 countries to consensus \|\| ATM Market Worth $24.92 Billion by 2022: Grand View Research, Inc.: SAN FRANCISCO, CA--(Marketwired - Dec 14, 2015) - The globalATM marketis expected to reach USD 24.92 billion by 2022, according to a new study by Grand View Research, Inc. Rising demand for automated wireless communication devices along with growing security standards are estimated to drive the industry. Enhanced security standards for safer online, and physical financial transactions has led to a significant rise in use of these services. Further, continuation of strict security standards and safer modes of financial transactions are expected to have a substantial impact on the industry growth. Automation of the basic financial transactions and technological advancements increasing at alarming rate would increase mobile transcations among the customers. Linkage of ATMs with wiireless devices would facilitate the customers to complete the transcations securely. Browse full research report with TOC on "ATM Market Analysis By Solution (Managed Services, Deployment) And Segment Forecasts To 2022" at:http://www.grandviewresearch.com/industry-analysis/atm-market Rising competition amongst the banks to increase the penetration, would lead to its huge installation base, thus offering lucrative growth opportunities for the industry. In order to reduce the frauds, manufacturers and financial institutions are opting for anti-skimming, biometric devices, and voice recognition systems. Further key findings from the report suggest: • ATM deployment solutions industry accounted for over 70% of the overall revenue in 2014. They comprise installed machines at varied locations such as worksite, onsite, offsite and mobile segment. The deployment revenue comprises of installed machines and services as well as its maintenance. Rise in installation base and increasing maintenance activities are estimated to drive segment growth. • ATM managed services market is estimated to exhibit considerable growth, growing at a CAGR of over 11.0% from 2015 to 2022. It contributes significantly towards strengthening the infrastructure for multichannel delivery for better customer retention, acquisition and cross selling opportunities. • North America ATM market dominated in terms of revenue in 2014, and is expected to significantly lose share by 2022. Adoption of smart machines across countries such as U.S. is estimated to impel growth across this region. Increasing trend of trading in digital currency is driving demand for Bitcoin ATMs across the region. • Asia Pacific ATM industry is expected to grow at a substantial growth rate of over 12% from 2015 to 2022. Rising demand for self-service machines and ever increasing customer base across regions such as China and India are estimated to drive the regional demand over the next seven years. Additionally, increasing trend of outsourcing its related activities by financial institutions is projected to positively impact growth across this region. • ATM market share is occupied by companies such as NCR Corporation, Diebold Inc, Wincor Nixdorf, Euronet Worldwide and Nautilus Hyosung. Product innovations and strategic partnerships with the manufacturers are some of the notable strategies adopted by the vendors. For instance, In October 2014, Diebold launched a new 5500 series of with advanced security features such as biometric finger-vein readers and security camera provisioning. Grand View Research has segmented the ATM market on the basis of solution and region: • ATM Solution Outlook (Revenue, USD Million, 2012 - 2022)Managed ServicesDeploymentOnsiteOffsiteWorksiteMobile • ATM Regional Outlook (Revenue, USD Million, 2012 - 2022)North AmericaEuropeAsia PacificRoW Browse related reports by Grand View Research: • Online Media Market -http://www.grandviewresearch.com/industry-analysis/online-media-market • Electronic Contract Manufacturing Services Market -http://www.grandviewresearch.com/industry-analysis/the-global-electronic-contract-manufacturing-services-market • Customer Relation Management (CRM) Market -http://www.grandviewresearch.com/industry-analysis/customer-relation-management-crm-market • Data Management System (DBMS) Market -http://www.grandviewresearch.com/industry-analysis/dbms-market About Grand View Research Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare. Read Our Blogs -mediafound.org,ni2014.org [Social Media Buzz] $443.00 at 20:45 UTC [24h Range: $433.83 - $462.00 Volume: 15264 BTC] via #btcusdpic.twitter.com/o3hRCwbZnY \|\| #Bitcoin last trade @btcecom $455.26 @cryptsy $423.00 Set #crypto #price #alerts at http://AlertCo.in \|\| LIVE: Profit = $407.20 (4.82 %). BUY B20.51 @ $420.00 (#VirCurex). SELL @ $432.02 (#Bitfinex) #bitcoin #btc - http://www.projectcoin.org \|\| Current price: 440.1$ $BTCUSD $btc #bitcoin 2015-12-20 17:00:02 EST \|\| 1 #bitcoin 1309 TL, 434.935 $, 403 €, GBP, 30498 RUR, 55999 ¥, CNH,...	438.64, 436.57, 442.40, 454.98, 455.65, 417.27, 422.82, 422.28, 432.98, 426.62
Given the historical Bitcoin prices from the last 90 days, predict the next 10 daily closing prices. The historical prices are: 285.51, 256.30, 260.93, 261.75, 260.02, 267.96, 266.74, 245.60, 246.20, 248.53, 247.03, 252.80, 242.71, 247.53, 244.22, 247.27, 253.01, 254.32, 253.70, 260.60, 255.49, 253.18, 245.02, 243.68, 236.07, 236.55, 236.15, 224.59, 219.16, 223.83, 228.57, 222.88, 223.36, 222.60, 224.63, 235.27, 234.18, 236.46, 231.27, 226.39, 219.43, 229.29, 225.85, 225.81, 236.15, 232.08, 234.93, 240.36, 239.02, 236.12, 229.78, 237.33, 243.86, 241.83, 240.30, 242.16, 241.11, 236.38, 236.93, 237.60, 236.15, 236.80, 233.13, 231.95, 234.02, 235.34, 240.35, 238.87, 240.95, 237.11, 237.12, 237.28, 237.41, 237.10, 233.35, 230.19, 222.93, 225.80, 225.87, 224.32, 224.95, 225.62, 222.88, 228.49, 229.05, 228.80, 229.71, 229.98, 232.40, 233.54.	[Bitcoin Technical Analysis for 2015-06-14] Volume: 12165900, RSI (14-day): 54.73, 50-day EMA: 233.61, 200-day EMA: 254.63 [Wider Market Context] None available. [Recent News (last 7 days)] A massive wave of startups is coming to crush the big banks: Wave crashing (Reuters/Rafael Marchante) Startups are chipping into every line of business big banks enjoyed leading up to the financial crisis. The banks know it. A recent Goldman Sachs report suggested that $4.7 trillion of the financial-services industry’s business is jeopardized smaller competitors. Online brokerages threaten banks’ broker-dealer businesses. Wealth management apps have sprung up to claim millennials that are distrustful of big money managers. Personal-finance startups are helping consumers balance their checkbooks online. Refinancing startups are taking advantage of cheap debt to offer students better rates on loans . All of it is taking bit business away from banks. And the biggest firms on Wall Street are employing all sorts of tactics to defend their top line from invasions taking place on both coasts. Virtually every big bank has invested in startups. Increasingly, seed-stage ventures and accelerators have been formed as Wall Street firms snap up a piece of hundreds of pre-IPO companies. After launching its first finch incubator in Tel Aviv in 2013, by the end of 2014 Citi Ventures had expanded accelerator efforts to Spain, Germany, Singapore, Brazil, and the US. Barclays Accelerator operates in two countries, in part thanks to TechStars’ management expertise. Even Capital One has an accelerator of its own, Capital One Labs. Wells Fargo has backed a handful of startups through its accelerator. One has the potential to help big banks get slimmer on staffing. Kasisto is a platform for financial institutions providing clients virtual personal assistants. And Bank of America has sponsored tech accelerators in New York, London, and Charlotte. Commerce.Innovated is another accelerator run by Silicon Valley Bank and MasterCard. Hardeep Walia, Motif Investing CEO (Hardeep Walia, Motif Investing CEOCourtesy Hardeep Walia) Sometimes banks wind up jointly investing in the same startup, like Motif Investing , an online broker. Both JP Morgan and Goldman Sachs backed that platform. Story continues JP Morgan also backed Square, along with numerous big banks’ investment arms. (Morgan Stanley joined in that investment, as well.) And even Morgan Stanley, which has had a relatively muted presence in the investing scene, has struck deals to back companies like the messaging platform Perzo and Eris Exchange. Eris sells interest-rate-swap futures. Goldman Sachs also backed Square, along with other big startups. Other deals for the bank have included Kensho, a market-data-analytics firm. Goldman is even backing Bitcoin startups. Some view it as Wall Street finally acknowledging that customer acquisition requires their not being deaf to Silicon Valley. Others think it is less about changing culture than it is about suppressing competition. “Because we’re a not a retail bank, we view all disruption opportunities as being great,” Reetika Grewal, head of payments strategy and solutions at Silicon Valley Bank said. She works with Commerce.Innovated. But not everyone does. We spoke with a number of players in the startup space, as well as Wall Street veterans. Here’s what they had to say: “Banks are looking towards earlier stage investments and opportunities,” says one investor who has worked with banks on deals. “Even if they don’t take equity in the companies but rather use the accelerator as a way to understand the innovation going on outside of their walls, it's totally worth it. The investment is relatively minuscule in relation to the insight they'll gain." “One of the reasons some firms may be eager to do more early stage deals is that banks are being regulated out of building larger stakes in pre-IPO companies,” a banking-sector source said. He referred to this in the broader scope of post-crisis regulation like the Dodd Frank Reform and Consumer Protection Act. It requires that banks either fund outside investments entirely with their own money, or with 3% of client funds. That, the source said, makes it very difficult for banks to participate in late-stage investing. One investor notes that part of banks’ strategy of backing early stage companies is to reap future business . “[Banks] have always tried to service early tech companies as much as possible as lead generation,” one Silicon Valley source said. "There’s this appetite for credit that banks can’t satisfy,” the investor said. "Banks either need to build competing products or invest in new ones.” “Banks are finally admitting they don't have it all figured out,” says another investor in the space. NOW WATCH: Google opens up a 21,000-square-foot campus in South Korea for startups More From Business Insider DIMON: 'We are creating generations of citizens who will never have a chance' DIMON: 'The United States of America is truly an exceptional country,' but 'something is wrong' Morgan Stanley just named a Wall Street legend as the head of a new group \|\| A massive wave of startups is coming to crush the big banks: (Reuters/Rafael Marchante)Startups are chippinginto every line of business big banks enjoyed leading up to the financial crisis. The banks know it. A recentGoldman Sachs report suggestedthat $4.7 trillion of the financial-services industry’s business is jeopardized smaller competitors. Online brokerages threaten banks’ broker-dealer businesses.Wealth management appshave sprung up to claim millennials that are distrustful of big money managers. Personal-finance startups are helping consumers balance their checkbooks online. Refinancing startups are taking advantage of cheap debt tooffer students better rates on loans. All of it is taking bit business away from banks. And the biggest firms on Wall Street are employing all sorts of tactics to defend their top line from invasions taking place on both coasts. Virtually every big bank has invested in startups. Increasingly, seed-stage ventures and accelerators have been formed as Wall Street firms snap up a piece of hundreds of pre-IPO companies. After launching its first finch incubator in Tel Aviv in 2013, by the end of 2014 Citi Ventures had expanded accelerator efforts to Spain, Germany, Singapore, Brazil, and the US. Barclays Accelerator operates in two countries, in part thanks to TechStars’ management expertise. Even Capital One has an accelerator of its own, Capital One Labs. Wells Fargo has backed a handful of startups through its accelerator. One has the potential to help big banks get slimmer on staffing.Kasistois a platform for financial institutions providing clients virtual personal assistants. And Bank of America hassponsoredtech accelerators in New York, London, and Charlotte. Commerce.Innovated is another accelerator run by Silicon Valley Bank and MasterCard. (Hardeep Walia, Motif Investing CEOCourtesy Hardeep Walia) Sometimes banks wind up jointly investing in the same startup, likeMotif Investing, an online broker.Both JP Morgan and Goldman Sachs backed that platform. JP Morgan also backed Square, along with numerous big banks’ investment arms. (Morgan Stanley joined in that investment, as well.) And even Morgan Stanley, which has had a relatively muted presence in the investing scene, has struck deals to back companies like the messaging platform Perzo and Eris Exchange. Eris sells interest-rate-swap futures. Goldman Sachs also backed Square, along with other big startups. Otherdeals for the bankhave included Kensho, a market-data-analytics firm. Goldman is evenbacking Bitcoin startups. Some view it as Wall Street finally acknowledging that customer acquisition requires their not being deaf to Silicon Valley.Others think it is less about changing culture than it is about suppressing competition. “Because we’re a not a retail bank, we view all disruption opportunities as being great,” Reetika Grewal,head of payments strategy and solutions at Silicon Valley Bank said. She works with Commerce.Innovated. But not everyone does. We spoke with a number of players in the startup space, as well as Wall Street veterans. Here’s what they had to say: • “Banks are looking towards earlier stage investments and opportunities,”says one investor who has worked with banks on deals. “Even if they don’t take equity in the companies but rather use the accelerator as a way to understand the innovation going on outside of their walls, it's totally worth it.The investment is relatively minuscule in relation to the insight they'll gain." • “One of the reasons some firms may be eager to do more early stage deals is that banks are being regulated out of building larger stakes in pre-IPO companies,”a banking-sector source said. He referred to this in the broader scope of post-crisis regulation like the Dodd Frank Reform and Consumer Protection Act. It requires that banks either fund outside investments entirely with their own money, or with 3% of client funds. That, the source said, makes it very difficult for banks to participate in late-stage investing. • One investor notes thatpart of banks’ strategy of backing early stage companies is to reap future business. “[Banks] have always tried to service early tech companies as much as possible as lead generation,” one Silicon Valley source said. • "There’s this appetite for credit that banks can’t satisfy,”the investor said. "Banks either need to build competing products or invest in new ones.” • “Banks are finally admitting they don't have it all figured out,”says another investor in the space. NOW WATCH:Google opens up a 21,000-square-foot campus in South Korea for startups More From Business Insider • DIMON: 'We are creating generations of citizens who will never have a chance' • DIMON: 'The United States of America is truly an exceptional country,' but 'something is wrong' • Morgan Stanley just named a Wall Street legend as the head of a new group \|\| Edible Marijuana Products Get The 'Okay' In Canada: In 2009, a Canadian baker named Owen Smith was charged with trafficking and unlawful possession of marijuana for using cannabis oil to bake pot cookies. Smith was later acquitted, but a larger question loomed as to whether or not dispensaries in Canada should allow medical marijuana to be delivered in ways other than smoking. Edibles Allowed Six years later, Canada's Supreme Court has ruled that medical marijuana can come in all forms, including cannabis oil which can be baked into food products. The ruling reflects the changing culture of marijuana use, which has shifted from a focus on smoking to ingesting, which is considered "healthier." Encouraging Growth In Edibles Market The ruling in Canada is likely to spur on the blossoming edibles market, which has taken off in U.S. states like Colorado, where recreational marijuana use is legal. Now, medical marijuana patients suffering from conditions like epilepsy and HIV will have access to everything from pot-laced brownies to marijuana-infused tea. Related Link: Marijuana's Tax Problem Still Safety Concerns While the Canadian Supreme Court's decision is intended to protect patients who use the drug to manage their symptoms, many worry that the growing edibles market is becoming increasingly dangerous. Although strict regulations typically require marijuana-laced products to include clear warning labels and child-proof packaging, the number of accidental marijuana exposures in young children has been on the rise. Not only are children being rushed to the emergency room after unknowingly consuming a THC-laced treat, but some say adults are also at risk. Because ingesting marijuana as a food product can sometimes delay the effects, people are more likely to overdose from having too many servings. See more from Benzinga Google Takes To The Streets To Solve Cities' Problems Could Bitcoin Save Athens? Net Neutrality Rules Go Into Effect Today: Here's How It Could Affect You © 2015 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. View comments \|\| Edible Marijuana Products Get The 'Okay' In Canada: In 2009, a Canadian baker named Owen Smith was charged with trafficking and unlawful possession of marijuana for using cannabis oil to bake pot cookies. Smith was later acquitted, but a larger question loomed as to whether or not dispensaries in Canada should allow medical marijuana to be delivered in ways other than smoking. Edibles Allowed Six years later, Canada's Supreme Court hasruledthat medical marijuana can come in all forms, including cannabis oil which can be baked into food products. The ruling reflects the changing culture of marijuana use, which has shifted from a focus on smoking to ingesting, which is considered "healthier." Encouraging Growth In Edibles Market The ruling in Canada is likely to spur on the blossoming edibles market, which has taken off in U.S. states like Colorado, where recreational marijuana use is legal. Now, medical marijuana patients suffering from conditions like epilepsy and HIV will have access to everything from pot-laced brownies to marijuana-infused tea. Related Link:Marijuana's Tax Problem Still Safety Concerns While the Canadian Supreme Court's decision is intended to protect patients who use the drug to manage their symptoms, many worry that the growing edibles market is becoming increasingly dangerous. Although strict regulations typically require marijuana-laced products to include clear warning labels and child-proof packaging, the number of accidental marijuana exposures in young children has been on the rise. Not only are children being rushed to the emergency room after unknowingly consuming a THC-laced treat, but some say adults are also at risk. Because ingesting marijuana as a food product can sometimes delay the effects, people are more likely to overdose from having too many servings. See more from Benzinga • Google Takes To The Streets To Solve Cities' Problems • Could Bitcoin Save Athens? • Net Neutrality Rules Go Into Effect Today: Here's How It Could Affect You © 2015 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. \|\| Could Bitcoin Save Athens?: After the International Monetary Fund turned its back on debt negotiations with Greece on Thursday, many began to worry that the nation's efforts to appease creditors while reversing austerity cuts would prove to be fruitless. With a €1.5 billion payment due at the end of this month, Greece is running out of time to release the bailout funding it needs to stay afloat. Digital Currency To The Rescue? Greek Finance Minister Yanis Varoufakis jokingly tweeted that the nation would adopt bitcoin if no deal was made on April Fool's day; but two-and-a-half months later with no agreement made, some analysts say that a cryptocurrency could be a viable solution . Digi-Drachma Some believe that Greece could create a digital currency backed by the nation's assets which would be used to maintain public sector salaries and pensions. The currency, dubbed "digi-drachma" would free up the nation's remaining euros for loan repayments and allow Athens to continue functioning without making any more unpopular austerity cuts. Related Link: Greek Banks Struggle To Handle Deposit Outflows With Default Fears Rising ECB Considers The Possibility During debt negotiations, the European Central Bank considered a similar situation in which the nation paid its workers using IOUs. This idea was parallel to the one Varoufakis outlined in his April Fool's blog post; he said a digital currency, called FT coin, could be based on future tax revenue. Just A Band-Aid? The digital currency scenario might get Athens through its next loan repayment, but many say it would be a temporary fix for the nation's larger problem— debt. Greece's economy has been unable to sustain the nation's massive debt, so without some kind of reform, this problem is likely to repeat itself. This has been the issue at the center of the nation's bailout talks as eurozone creditors want to see Greece stand on its own rather than leaning on bailout money in the years to come. See more from Benzinga Net Neutrality Rules Go Into Effect Today: Here's How It Could Affect You Will E-Cigarettes Replace Traditional Cigarettes? Greek Banks Struggle To Handle Deposit Outflows With Default Fears Rising © 2015 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. \|\| Could Bitcoin Save Athens?: After the International Monetary Fund turned its back on debt negotiations with Greece on Thursday, many began to worry that the nation's efforts to appease creditors while reversing austerity cuts would prove to be fruitless. With a €1.5 billion payment due at the end of this month, Greece is running out of time to release the bailout funding it needs to stay afloat. Digital Currency To The Rescue? Greek Finance Minister Yanis Varoufakis jokinglytweetedthat the nation would adopt bitcoin if no deal was made on April Fool's day; but two-and-a-half months later with no agreement made, some analysts say thata cryptocurrency could be a viable solution. Digi-Drachma Some believe that Greece could create a digital currency backed by the nation's assets which would be used to maintain public sector salaries and pensions. The currency, dubbed "digi-drachma" would free up the nation's remaining euros for loan repayments and allow Athens to continue functioning without making any more unpopular austerity cuts. Related Link:Greek Banks Struggle To Handle Deposit Outflows With Default Fears Rising ECB Considers The Possibility During debt negotiations, the European Central Bank considered a similar situation in which the nation paid its workers using IOUs. This idea was parallel to the one Varoufakis outlined in his April Fool's blog post; he said a digital currency, called FT coin, could be based on future tax revenue. Just A Band-Aid? The digital currency scenario might get Athens through its next loan repayment, but many say it would be a temporary fix for the nation's larger problem— debt. Greece's economy has been unable to sustain the nation's massive debt, so without some kind of reform, this problem is likely to repeat itself. This has been the issue at the center of the nation's bailout talks as eurozone creditors want to see Greece stand on its own rather than leaning on bailout money in the years to come. See more from Benzinga • Net Neutrality Rules Go Into Effect Today: Here's How It Could Affect You • Will E-Cigarettes Replace Traditional Cigarettes? • Greek Banks Struggle To Handle Deposit Outflows With Default Fears Rising © 2015 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. \|\| Could Bitcoin Save Athens?: After the International Monetary Fund turned its back on debt negotiations with Greece on Thursday, many began to worry that the nation's efforts to appease creditors while reversing austerity cuts would prove to be fruitless. With a €1.5 billion payment due at the end of this month, Greece is running out of time to release the bailout funding it needs to stay afloat. Digital Currency To The Rescue? Greek Finance Minister Yanis Varoufakis jokinglytweetedthat the nation would adopt bitcoin if no deal was made on April Fool's day; but two-and-a-half months later with no agreement made, some analysts say thata cryptocurrency could be a viable solution. Digi-Drachma Some believe that Greece could create a digital currency backed by the nation's assets which would be used to maintain public sector salaries and pensions. The currency, dubbed "digi-drachma" would free up the nation's remaining euros for loan repayments and allow Athens to continue functioning without making any more unpopular austerity cuts. Related Link:Greek Banks Struggle To Handle Deposit Outflows With Default Fears Rising ECB Considers The Possibility During debt negotiations, the European Central Bank considered a similar situation in which the nation paid its workers using IOUs. This idea was parallel to the one Varoufakis outlined in his April Fool's blog post; he said a digital currency, called FT coin, could be based on future tax revenue. Just A Band-Aid? The digital currency scenario might get Athens through its next loan repayment, but many say it would be a temporary fix for the nation's larger problem— debt. Greece's economy has been unable to sustain the nation's massive debt, so without some kind of reform, this problem is likely to repeat itself. This has been the issue at the center of the nation's bailout talks as eurozone creditors want to see Greece stand on its own rather than leaning on bailout money in the years to come. See more from Benzinga • Net Neutrality Rules Go Into Effect Today: Here's How It Could Affect You • Will E-Cigarettes Replace Traditional Cigarettes? • Greek Banks Struggle To Handle Deposit Outflows With Default Fears Rising © 2015 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. \|\| A bitcoin start-up has made exchanging currency free: A bitcoin (:BTC=) start-up has launched a service that will allow people to carry out foreign exchange transactions for free, dodging the expensive commission often charged by major financial institutions. Bitreserve, a company founded last year by CNET and salesforce.com co-founder Halsey Minor, allows people to convert bitcoin into normal currencies and precious metals. The start-up used to charge a 0.45 percent commission for bitcoin-to-dollar transactions, but has now cut its fees entirely. The move is likely to give it an edge in the hotly contested "fintech" market where a number of companies such as U.K.-based Transferwise are contesting the currency transfer and mobile payments space. Users of the platform will be able to make currency exchanges in eight major currencies: euros, dollars, pounds, yuan, yen, pesos, rupees, swiss francs. People will also have the ability to convert the currencies into gold, silver, platinum and palladium, depending on the market price. Bitreserve offers the mid-market rate for currencies. "Those in society who can least afford it have to spend so much for things that are so commonplace," Anthony Watson, president and chief operating officer of Bitreserve, told CNBC by phone. "If you look at a Mexican immigrants, they send approximately $30 billion home every year and they pay just under $3 billion for the privilege of sending that money home. That is 10 percent and that is disgusting." Bitreserve's service comes with a catch however - you have to own bitcoin to use the service in order to make an initial deposit and then convert it to another asset. Plus, when users receive money, they can only spend it in bitcoin. This could put it at a disadvantage to other companies that allow people to sign up with bank accounts and send money for still a small commission. One use case of such a technology is remittances, which reached $436 billion in 2014, according to the World Bank. Since its inception in October 2014, Bitrserve has been responsible for $14.5 million worth of transactions globally, according to its website. Story continues But not all experts agree that a free model is sustainable in the currency exchange business. "No business that offers its services for free can do so sustainably over a long period of time without other revenue sources," Stan Stalnaker, board member of the Digital Asset Transfer Authority, a self-regulating body for digital currencies, told CNBC by email. Read More This is why bitcoin won't go away anytime soon "The real question, in an age of free transactions, is about business models - what other products and services can Bitreserve launch that it will charge for, and how successful will that be on the back of very low cost remittances?" Watson said the company was looking to partner with traditional financial institutions to allow people to move the money into traditional bank accounts, as well as retailers so people can buy items using regular currencies. "We are in conversation across the world with not only banks but different financial services providers. We are talking to a myriad of companies. We don't see ourselves as a threat to banks we see ourselves as complimenting what they do," Watson, the former Nike CIO, said. Another use of Bitreserve's technology is to store bitcoin in a stable currency like the U.S. dollar. "A lot of people are putting money on reserve and moving it into currency and moving bitcoin into a stable form of currency. Bticoin bounces around like a jack rabbit," Watson added. A number of companies such as Coincove and ArtaBit are offering similar services, but only allowing people to send bitcoin to converted to one currency. More From CNBC CNBC.com News Page CNBC.com Blogs Page CNBC.com Earnings Central \|\| A bitcoin start-up has made exchanging currency free: A bitcoin(:BTC=)start-up has launched a service that will allow people to carry out foreign exchange transactions for free, dodging the expensive commission often charged by major financial institutions. Bitreserve, a company founded last year by CNET and salesforce.com co-founder Halsey Minor, allows people to convert bitcoin into normal currencies and precious metals. The start-up used to charge a 0.45 percent commission for bitcoin-to-dollar transactions, but has now cut its fees entirely. The move is likely to give it an edge in the hotly contested "fintech" market where a number of companies such as U.K.-based Transferwise are contesting the currency transfer and mobile payments space. Users of the platform will be able to make currency exchanges in eight major currencies: euros, dollars, pounds, yuan, yen, pesos, rupees, swiss francs. People will also have the ability to convert the currencies into gold, silver, platinum and palladium, depending on the market price. Bitreserve offers the mid-market rate for currencies. "Those in society who can least afford it have to spend so much for things that are so commonplace," Anthony Watson, president and chief operating officer of Bitreserve, told CNBC by phone. "If you look at a Mexican immigrants, they send approximately $30 billion home every year and they pay just under $3 billion for the privilege of sending that money home. That is 10 percent and that is disgusting." Bitreserve's service comes with a catch however - you have to own bitcoin to use the service in order to make an initial deposit and then convert it to another asset. Plus, when users receive money, they can only spend it in bitcoin. This could put it at a disadvantage to other companies that allow people to sign up with bank accounts and send money for still a small commission. One use case of such a technology is remittances, which reached $436 billion in 2014, according to the World Bank. Since its inception in October 2014, Bitrserve has been responsible for $14.5 million worth of transactions globally, according to its website. But not all experts agree that a free model is sustainable in the currency exchange business. "No business that offers its services for free can do so sustainably over a long period of time without other revenue sources," Stan Stalnaker, board member of the Digital Asset Transfer Authority, a self-regulating body for digital currencies, told CNBC by email. Read MoreThis is why bitcoin won't go away anytime soon "The real question, in an age of free transactions, is about business models - what other products and services can Bitreserve launch that it will charge for, and how successful will that be on the back of very low cost remittances?" Watson said the company was looking to partner with traditional financial institutions to allow people to move the money into traditional bank accounts, as well as retailers so people can buy items using regular currencies. "We are in conversation across the world with not only banks but different financial services providers. We are talking to a myriad of companies. We don't see ourselves as a threat to banks we see ourselves as complimenting what they do," Watson, the former Nike CIO, said. Another use of Bitreserve's technology is to store bitcoin in a stable currency like the U.S. dollar. "A lot of people are putting money on reserve and moving it into currency and moving bitcoin into a stable form of currency. Bticoin bounces around like a jack rabbit," Watson added. A number of companies such as Coincove and ArtaBit are offering similar services, but only allowing people to send bitcoin to converted to one currency. More From CNBC • CNBC.com News Page • CNBC.com Blogs Page • CNBC.com Earnings Central \|\| 5 trades on Costolo's Twitter departure: The timing of Twitter(NYSE: TWTR)'s leadership shake-up bodes well for investors looking to buy into the stock, CNBC "Fast Money" traders said. Embattled Twitter CEO Dick Costolo will step down on July 1, the company announced Thursday. Co-founder and former CEO Jack Dorsey will take over on an interim basis until the position is filled. "It is interesting. I do think there is change here that is needed that opens the door," said trader Karen Finerman, who noted that she would consider taking a stake in Twitter. Many investors and analysts have called for a change amid a sluggish run for Twitter's stock. The company has struggled to expand its user base and grow revenue through advertising and other streams. But Dorsey said in a conference call Thursday that Costolo's departure did not reflect the company's near-term results. Read MoreAfter CEO exit, Twitter says no strategy change Still, traders felt the stock has room to climb higher; it closed Thursday below $36 per share. Investors should stay long in the stock using $35 as a stop, trader Guy Adami said. Twitter will likely rise during Dorsey's interim tenure, trader Brian Kelly added. Trader Dan Nathan-who owns Twitter stock-said he would stick with the name. Adami added that regardless of whether Facebook(NASDAQ: FB)will see a flood of advertisers or other business after Twitter's shake-up, it stands to move higher. The stock closed Thursday just below $82 per share. Read MoreTwitter employees flood Twitter with tweets for @dickc Disclosures: Brian Kelly Brian Kelly is long DXGE, BTC=, BBRY, U.S. dollar and oil. He is short Australian dollar, Canadian dollar, euro, yen and yuan. Today he entered into short euro. Today he closed out his short U.S. 30-year bonds and short DAX. Dan Nathan Dan is long SPY June put fly, TWTR, BBRY June calls, SO, DE June put fly, INTC July put, WMT June call fly, LVS July Aug put spread, TWTR Sept call spread, GRRO June put fly and CAT July/August put spread. He is short SO Aug calls. Today, he bought CAT July/August put spreads. Karen Finerman Karen is long BABA, BAC, C, FINL, FL, GOOG, GOOGL, JPM, KORS, M and URI. She is short SPY. Her firm is long ANTM, AAPL, BAC, C, DIS, FBT, FINL, FL, GOOG, GOOGL, GPS, IBB, JPM, KORS, M, SUNE, URI, XBI, KORS calls, URI calls and SPY puts. Her firm is short IWM, SPY, MDY and M calls. Karen Finerman is on the board of GrafTech International. Guy Adami Guy Adami is long CELG, EXAS and INTC. Guy Adami's wife, Linda Snow, works at Merck. More From CNBC • Top News and Analysis • Latest News Video • Personal Finance \|\| 5 trades on Costolo's Twitter departure: The timing of Twitter (NYSE: TWTR) 's leadership shake-up bodes well for investors looking to buy into the stock, CNBC "Fast Money" traders said. Embattled Twitter CEO Dick Costolo will step down on July 1, the company announced Thursday. Co-founder and former CEO Jack Dorsey will take over on an interim basis until the position is filled. "It is interesting. I do think there is change here that is needed that opens the door," said trader Karen Finerman, who noted that she would consider taking a stake in Twitter. Many investors and analysts have called for a change amid a sluggish run for Twitter's stock. The company has struggled to expand its user base and grow revenue through advertising and other streams. But Dorsey said in a conference call Thursday that Costolo's departure did not reflect the company's near-term results. Read More After CEO exit, Twitter says no strategy change Still, traders felt the stock has room to climb higher; it closed Thursday below $36 per share. Investors should stay long in the stock using $35 as a stop, trader Guy Adami said. Twitter will likely rise during Dorsey's interim tenure, trader Brian Kelly added. Trader Dan Nathan-who owns Twitter stock-said he would stick with the name. Adami added that regardless of whether Facebook (NASDAQ: FB) will see a flood of advertisers or other business after Twitter's shake-up, it stands to move higher. The stock closed Thursday just below $82 per share. Read More Twitter employees flood Twitter with tweets for @dickc Disclosures: Brian Kelly Brian Kelly is long DXGE, BTC=, BBRY, U.S. dollar and oil. He is short Australian dollar, Canadian dollar, euro, yen and yuan. Today he entered into short euro. Today he closed out his short U.S. 30-year bonds and short DAX. Dan Nathan Dan is long SPY June put fly, TWTR, BBRY June calls, SO, DE June put fly, INTC July put, WMT June call fly, LVS July Aug put spread, TWTR Sept call spread, GRRO June put fly and CAT July/August put spread. He is short SO Aug calls. Today, he bought CAT July/August put spreads. Karen Finerman Karen is long BABA, BAC, C, FINL, FL, GOOG, GOOGL, JPM, KORS, M and URI. She is short SPY. Her firm is long ANTM, AAPL, BAC, C, DIS, FBT, FINL, FL, GOOG, GOOGL, GPS, IBB, JPM, KORS, M, SUNE, URI, XBI, KORS calls, URI calls and SPY puts. Her firm is short IWM, SPY, MDY and M calls. Karen Finerman is on the board of GrafTech International. Guy Adami Guy Adami is long CELG, EXAS and INTC. Guy Adami's wife, Linda Snow, works at Merck. More From CNBC Top News and Analysis Latest News Video Personal Finance View comments \|\| GoCoin(TM) and Ziftr(R) Announce Merger Agreement to Offer Merchants a Richer Digital Currency Payment and Loyalty Experience for Their Customers: SANTA MONICA, CA--(Marketwired - Jun 10, 2015) - International blockchain payment platformGoCoinand mobile wallet, eCommerce loyalty and credit card processing companyZiftrtoday announced they have reached an agreement to proceed with strategic merger discussions. Together, the team and technology is equipped to swiftly surpass Coinbase and BitPay in the digital currency space and aggressively take on Stripe as a hybrid traditional and digital currency payments powerhouse with a built-in customer loyalty program. GoCoin is the world's #3 blockchain payment processor and the only major player processing Litecoin, Dogecoin, Tether and new experimental coins in addition to Bitcoin. With more than 7,500 merchants and a healthy pipeline of over 500 new signups monthly, GoCoin has attracted marquee brands like PayPal, RE/MAX UK, Shopify, CheapAir, eGifter and top Bitcoin mining companies Bitfury, Zoomhash, Hashpros and KnCminer. Based in Los Angeles, GoCoin has gained recent traction with entertainment companies such as Lionsgate Films, and additional entertainment and ticketing industry companies live in test markets before announcing a broader offering. Ziftr is a veteran eCommerce company that recently launchedziftrPAY™, a cryptocurrency and credit card payment platform and customer loyalty program that tokenizes credit card information to allow for highly secure transactions. In addition to ziftrPAY, Ziftr has createdziftrCOIN™, a digital coupon coin designed for use as part of a customer loyalty program, andziftrWALLET™, a mobile multi cryptocurrency wallet. ziftrCOIN and ziftrWALLET were both designed to provide an incentive for shopping with digital currency. Whether consumers pay with credit cards or digital currency, they receive "cash back" in their mobile wallets. "When consumers ask 'what's in it for me?', Bitcoin has a serious adoption problem," said Steve Beauregard, founder and CEO of GoCoin. "Loyalty points play a key role in a consumer's choice of payment method, and with the ziftrCOIN loyalty platform integrated into the ziftrWALLET, I believe we can finally give consumers the right experience to choose digital currencies over cards at checkout." Merchants that offer digital currency as a payment method have long sought better solutions to engage their customers and encourage them to use this low-cost, highly secure alternative to credit card payments. Together, GoCoin and Ziftr will offer one platform to meet these demands. "Ziftr has many of the necessary assets to accelerate mainstream adoption of digital currency, so merging with GoCoin and gaining access to its rapidly growing network of merchants gives our combined altcoin-friendly company the power to truly disrupt the $20 trillion global payments market. Our platform will allow merchants of all sizes to benefit from the transparency and efficiency of blockchain payments by giving them a better solution than what's currently available," said Bob Wilkins, CEO of Ziftr. About Ziftr® Established in 2008 and based in Milford, New Hampshire, Ziftr is revolutionizing the shopping experience by bringing cryptocurrency into the mainstream for both consumers and merchants. To accomplish this goal, Ziftr has developed the following tools and applications: ziftrCOIN, a digital coin that functions like a coupon; ziftrPAY, a next-generation cryptocurrency/credit card payment platform and customer loyalty program; ziftrWALLET, a multicoin digital wallet; and ziftrSHOP, a worldwide online marketplace where consumers will be able to conduct transactions using credit cards and cryptocurrency. Ziftr is a product of myVBO®, a full-service design, marketing and development company that helps businesses turn their ambitions into realities. For more information about Ziftr, visitwww.ziftr.com. About GoCoin™ A global leader in Blockchain payments and innovation, GoCoin was the first international platform for enabling merchants to accept Bitcoin and popular altcoins Litecoin, Dogecoin and Tether at checkout. Founded in July 2013, GoCoin has received over $2 million in funding led by Bitcoin Shop, Inc. (OTCQB:BTCS) and maintains offices in Singapore, London, Douglas and Santa Monica. For more information about GoCoin, visithttp://www.gocoin.com. DisclaimerAll statements in this release, other than statements of historical facts that address future ziftrCOIN availability, or developments that the ziftrCOIN expects are forward looking statements. Although the Corporation believes the expectations expressed in such forward looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in the forward looking statements. Factors that could cause results to differ materially from those in the forward looking statements include, but are not limited to: market volatility; continued availability of capital, financing and personnel; government regulation and laws; and general economic, market or business conditions. \|\| GoCoin(TM) and Ziftr(R) Announce Merger Agreement to Offer Merchants a Richer Digital Currency Payment and Loyalty Experience for Their Customers: SANTA MONICA, CA--(Marketwired - Jun 10, 2015) - International blockchain payment platform GoCoin and mobile wallet, eCommerce loyalty and credit card processing company Ziftr today announced they have reached an agreement to proceed with strategic merger discussions. Together, the team and technology is equipped to swiftly surpass Coinbase and BitPay in the digital currency space and aggressively take on Stripe as a hybrid traditional and digital currency payments powerhouse with a built-in customer loyalty program. GoCoin is the world's #3 blockchain payment processor and the only major player processing Litecoin, Dogecoin, Tether and new experimental coins in addition to Bitcoin. With more than 7,500 merchants and a healthy pipeline of over 500 new signups monthly, GoCoin has attracted marquee brands like PayPal, RE/MAX UK, Shopify, CheapAir, eGifter and top Bitcoin mining companies Bitfury, Zoomhash, Hashpros and KnCminer. Based in Los Angeles, GoCoin has gained recent traction with entertainment companies such as Lionsgate Films, and additional entertainment and ticketing industry companies live in test markets before announcing a broader offering. Ziftr is a veteran eCommerce company that recently launched ziftrPAY™ , a cryptocurrency and credit card payment platform and customer loyalty program that tokenizes credit card information to allow for highly secure transactions. In addition to ziftrPAY, Ziftr has created ziftrCOIN™ , a digital coupon coin designed for use as part of a customer loyalty program, and ziftrWALLET™ , a mobile multi cryptocurrency wallet. ziftrCOIN and ziftrWALLET were both designed to provide an incentive for shopping with digital currency. Whether consumers pay with credit cards or digital currency, they receive "cash back" in their mobile wallets. "When consumers ask 'what's in it for me?', Bitcoin has a serious adoption problem," said Steve Beauregard, founder and CEO of GoCoin. "Loyalty points play a key role in a consumer's choice of payment method, and with the ziftrCOIN loyalty platform integrated into the ziftrWALLET, I believe we can finally give consumers the right experience to choose digital currencies over cards at checkout." Story continues Merchants that offer digital currency as a payment method have long sought better solutions to engage their customers and encourage them to use this low-cost, highly secure alternative to credit card payments. Together, GoCoin and Ziftr will offer one platform to meet these demands. "Ziftr has many of the necessary assets to accelerate mainstream adoption of digital currency, so merging with GoCoin and gaining access to its rapidly growing network of merchants gives our combined altcoin-friendly company the power to truly disrupt the $20 trillion global payments market. Our platform will allow merchants of all sizes to benefit from the transparency and efficiency of blockchain payments by giving them a better solution than what's currently available," said Bob Wilkins, CEO of Ziftr. About Ziftr® Established in 2008 and based in Milford, New Hampshire, Ziftr is revolutionizing the shopping experience by bringing cryptocurrency into the mainstream for both consumers and merchants. To accomplish this goal, Ziftr has developed the following tools and applications: ziftrCOIN, a digital coin that functions like a coupon; ziftrPAY, a next-generation cryptocurrency/credit card payment platform and customer loyalty program; ziftrWALLET, a multicoin digital wallet; and ziftrSHOP, a worldwide online marketplace where consumers will be able to conduct transactions using credit cards and cryptocurrency. Ziftr is a product of myVBO®, a full-service design, marketing and development company that helps businesses turn their ambitions into realities. For more information about Ziftr, visit www.ziftr.com . About GoCoin™ A global leader in Blockchain payments and innovation, GoCoin was the first international platform for enabling merchants to accept Bitcoin and popular altcoins Litecoin, Dogecoin and Tether at checkout. Founded in July 2013, GoCoin has received over $2 million in funding led by Bitcoin Shop, Inc. ( OTCQB : BTCS ) and maintains offices in Singapore, London, Douglas and Santa Monica. For more information about GoCoin, visit http://www.gocoin.com . Disclaimer All statements in this release, other than statements of historical facts that address future ziftrCOIN availability, or developments that the ziftrCOIN expects are forward looking statements. Although the Corporation believes the expectations expressed in such forward looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in the forward looking statements. Factors that could cause results to differ materially from those in the forward looking statements include, but are not limited to: market volatility; continued availability of capital, financing and personnel; government regulation and laws; and general economic, market or business conditions. \|\| MarilynJean Media Interactive (MJMI.qb) Announces Entry into Bitcoin and Crypto-Currency Space: HENDERSON, NV / ACCESSWIRE / June 10, 2015 /MarilynJean Media Interactive (MJMI) announced today it has expanded its operations into the crypto-currency market with a focus on bitcoin. The Company announced plans to pursue several verticals within the space including operation of a Bitcoin Exchange where users will be able to buy and sell bitcoins, as well as other popular crypto-currencies, and exchange their holdings into a range of international currencies. The Company is also developing plans to partner with a manufacturer of bitcoin Automated Teller Machines (ATMs) whose operation it plans to integrate directly with its trading platform allowing for a seamless, end to end solution for trading and currency conversion either online or in person at an ATM. The current market capitalization of bitcoins in circulation exceeds $3 billion. Simultaneously, the company is also planning to use its developing expertise and network in the bitcoin space to participate in the multi-billion dollar currency remittance market. The company plans to use the combination of a bitcoin exchange and ATMs to facilitate ultra-low-cost international remittance services. The World Bank projects global remittances to exceed $450 billion in 2015. Peter Janosi, the company's president said: "With major players across virtually every industry making big bets on crypto-currencies, and bitcoin in particular, we believe our timing is optimal to enter this exciting space. We look forward to updating our shareholders with our progress in building the company's expertise and partnerships in the industry over the coming months." A crypto-currency is a medium of exchange using cryptography to secure transactions and control the creation of new units. Bitcoin became the first decentralized crypto-currency in 2009. Crypto-currency is produced at a rate which is defined when the system is created and publicly known. By contrast, in centralized banking and economic systems, such as the Federal Reserve System, corporate boards or governments control the supply of currency by printing units or demanding additions to digital banking ledgers. However, neither companies nor governments can produce units of crypto-currency and as such the value of crypto-currencies are completely based on supply and demand, free from any governmental control. Many people believe crypto-currencies, and in particular bitcoin, hold the promise of being the most significant advancement in global finance in modern history. The advent of bitcoin creates a secure, easily accessible and transferable transnational currency that is completely liberated from political influence. Richard Branson, head of the Virgin Group, is quoted on his company's website as saying: "I have invested in Bitcoin because I believe in its potential, the capacity it has to transform global payments is very exciting." Heavyweight investment bank Goldman Sachs (NYSE:GS), announced on April 30th 2015 that it had partnered with Chinese investment firm IDG Capital partners to invest $50 million in a Bitcoin start-up. Numerous high-profile firms have begun accepting Bitcoin as a payment method including: Dell Inc. (NASDAQ:DELL), Dish Network Corp. (NASDAQ:DISH), Expedia Inc. (NASDAQ:EXPE), and Overstock.com (NASDAQ:OSTK). MarilynJean Media Interactive is among the first publicly traded companies focussed on bitcoin and the crypto-currency space. The company's trading symbol is MJMI.QB. Website:www.marilynjean.comPress Contact:[email protected] SOURCE:MarilynJean Media Interactive \|\| MarilynJean Media Interactive (MJMI.qb) Announces Entry into Bitcoin and Crypto-Currency Space: HENDERSON, NV / ACCESSWIRE / June 10, 2015 /MarilynJean Media Interactive (MJMI) announced today it has expanded its operations into the crypto-currency market with a focus on bitcoin. The Company announced plans to pursue several verticals within the space including operation of a Bitcoin Exchange where users will be able to buy and sell bitcoins, as well as other popular crypto-currencies, and exchange their holdings into a range of international currencies. The Company is also developing plans to partner with a manufacturer of bitcoin Automated Teller Machines (ATMs) whose operation it plans to integrate directly with its trading platform allowing for a seamless, end to end solution for trading and currency conversion either online or in person at an ATM. The current market capitalization of bitcoins in circulation exceeds $3 billion. Simultaneously, the company is also planning to use its developing expertise and network in the bitcoin space to participate in the multi-billion dollar currency remittance market. The company plans to use the combination of a bitcoin exchange and ATMs to facilitate ultra-low-cost international remittance services. The World Bank projects global remittances to exceed $450 billion in 2015. Peter Janosi, the company's president said: "With major players across virtually every industry making big bets on crypto-currencies, and bitcoin in particular, we believe our timing is optimal to enter this exciting space. We look forward to updating our shareholders with our progress in building the company's expertise and partnerships in the industry over the coming months." A crypto-currency is a medium of exchange using cryptography to secure transactions and control the creation of new units. Bitcoin became the first decentralized crypto-currency in 2009. Crypto-currency is produced at a rate which is defined when the system is created and publicly known. By contrast, in centralized banking and economic systems, such as the Federal Reserve System, corporate boards or governments control the supply of currency by printing units or demanding additions to digital banking ledgers. However, neither companies nor governments can produce units of crypto-currency and as such the value of crypto-currencies are completely based on supply and demand, free from any governmental control. Many people believe crypto-currencies, and in particular bitcoin, hold the promise of being the most significant advancement in global finance in modern history. The advent of bitcoin creates a secure, easily accessible and transferable transnational currency that is completely liberated from political influence. Richard Branson, head of the Virgin Group, is quoted on his company's website as saying: "I have invested in Bitcoin because I believe in its potential, the capacity it has to transform global payments is very exciting." Heavyweight investment bank Goldman Sachs (NYSE:GS), announced on April 30th 2015 that it had partnered with Chinese investment firm IDG Capital partners to invest $50 million in a Bitcoin start-up. Numerous high-profile firms have begun accepting Bitcoin as a payment method including: Dell Inc. (NASDAQ:DELL), Dish Network Corp. (NASDAQ:DISH), Expedia Inc. (NASDAQ:EXPE), and Overstock.com (NASDAQ:OSTK). MarilynJean Media Interactive is among the first publicly traded companies focussed on bitcoin and the crypto-currency space. The company's trading symbol is MJMI.QB. Website:www.marilynjean.comPress Contact:[email protected] SOURCE:MarilynJean Media Interactive \|\| MarilynJean Media Interactive (MJMI.qb) Announces Entry into Bitcoin and Crypto-Currency Space: HENDERSON, NV / ACCESSWIRE / June 10, 2015 / MarilynJean Media Interactive ( MJMI ) announced today it has expanded its operations into the crypto-currency market with a focus on bitcoin. The Company announced plans to pursue several verticals within the space including operation of a Bitcoin Exchange where users will be able to buy and sell bitcoins, as well as other popular crypto-currencies, and exchange their holdings into a range of international currencies. The Company is also developing plans to partner with a manufacturer of bitcoin Automated Teller Machines (ATMs) whose operation it plans to integrate directly with its trading platform allowing for a seamless, end to end solution for trading and currency conversion either online or in person at an ATM. The current market capitalization of bitcoins in circulation exceeds $3 billion. Simultaneously, the company is also planning to use its developing expertise and network in the bitcoin space to participate in the multi-billion dollar currency remittance market. The company plans to use the combination of a bitcoin exchange and ATMs to facilitate ultra-low-cost international remittance services. The World Bank projects global remittances to exceed $450 billion in 2015. Peter Janosi, the company's president said: "With major players across virtually every industry making big bets on crypto-currencies, and bitcoin in particular, we believe our timing is optimal to enter this exciting space. We look forward to updating our shareholders with our progress in building the company's expertise and partnerships in the industry over the coming months." A crypto-currency is a medium of exchange using cryptography to secure transactions and control the creation of new units. Bitcoin became the first decentralized crypto-currency in 2009. Crypto-currency is produced at a rate which is defined when the system is created and publicly known. By contrast, in centralized banking and economic systems, such as the Federal Reserve System, corporate boards or governments control the supply of currency by printing units or demanding additions to digital banking ledgers. However, neither companies nor governments can produce units of crypto-currency and as such the value of crypto-currencies are completely based on supply and demand, free from any governmental control. Many people believe crypto-currencies, and in particular bitcoin, hold the promise of being the most significant advancement in global finance in modern history. The advent of bitcoin creates a secure, easily accessible and transferable transnational currency that is completely liberated from political influence. Story continues Richard Branson, head of the Virgin Group, is quoted on his company's website as saying: "I have invested in Bitcoin because I believe in its potential, the capacity it has to transform global payments is very exciting." Heavyweight investment bank Goldman Sachs (NYSE:GS), announced on April 30th 2015 that it had partnered with Chinese investment firm IDG Capital partners to invest $50 million in a Bitcoin start-up. Numerous high-profile firms have begun accepting Bitcoin as a payment method including: Dell Inc. (NASDAQ:DELL), Dish Network Corp. (NASDAQ:DISH), Expedia Inc. (NASDAQ:EXPE), and Overstock.com (NASDAQ:OSTK). MarilynJean Media Interactive is among the first publicly traded companies focussed on bitcoin and the crypto-currency space. The company's trading symbol is MJMI.QB. Website: www.marilynjean.com Press Contact: [email protected] SOURCE: MarilynJean Media Interactive View comments \|\| Getting mobile with Bitcoin: This article, Getting mobile with Bitcoin , originally appeared on TechRepublic.com . If you haven't heard of Bitcoin, you might be living on another planet. It's a cryptographic-based currency which isn't actually printed or minted but exists solely in electronic (digital) form. The advantages to Bitcoin are that it is internationally-based (no currency exchange or other fees) and used, it is not subject to laws or regulation from one individual entity, and it can purchase goods or services from businesses and fellow consumers. Bitcoins can be converted into any local currency via exchange rates (at the time of this writing one bitcoin is worth $237.47 in U.S. dollars). You can even generate your own bitcoins through a process called "mining" whereby special high-speed computer systems run software to verify a set of bitcoin transactions (known as a "blockchain"). The more work these systems contribute to this effort, the more bitcoins can be earned (however there is a finite number of bitcoins that the world can generate; approximately 21 million). Bitcoins are generally stored in and utilized by an application or mobile wallet. Two such examples are Bitcoin Wallet for Android and Bither for iOS , either of which can be used to obtain, use, sell and track Bitcoins: figurea.jpg Image: Google Play The concept of Bitcoin Wallet is the same as any other mobile payment system; Bitcoins are accessed via a centralized account (not actually stored on the device per se, meaning your device isn't required nor must be powered up for someone to send you Bitcoins). The app is just a front end to manage the Bitcoins. As it enters its sixth year of existence, the Bitcoin has rolled forward with steady momentum and its popularity continues to grow. As is usually the case with technological advancements, new possibilities are also arising for those savvy enough to stay ahead of the curve. Entire industries are springing up around Bitcoin and one such example involves a merger between two companies called The Bitcoin Shop and Spondoolies-Tech. Story continues The Bitcoin Shop (aka "BTCS") provides Bitcoin (and other digital currency) transaction verification services. It's goal is to build a universal platform for digital currency to provide a single point of access for users to engage in their ecosystem. Consequently, BTCS is investing $1.5m in a transaction verification server manufacturer named Spondoolies-Tech Ltd (aka "Spondoolies"). The motivation behind the merger is to "create the world's first publicly traded company to produce Bitcoin transaction verification equipment and deploy Bitcoin mining resources." I spoke with Charles Allen, CEO of BTCS to find out more about Bitcoin and the details of the BTCS-Spondoolies merger. Scott Matteson: "How do Bitcoin mobile apps work (specifically via Bitcoin Shop's context)?" Charles Allen: "Bitcoin Shop ("BTCS") does not currently have a mobile app. However many digital companies offer iPhone and Android compatible apps most of which are bitcoin wallets or price feeds." SM: "What is the advantage of Bitcoin over traditional currency?" CA: "There are many advantages of Bitcoin compared to fiat currency. Below are some key differentiators: Highly divisible compared to fiat currencies Globally transferable - e.g. in the current system, money can be sent around the world in a matter of days via wires but this is costly for small transactions and slow in today's age. With bitcoin, for example, one can send their bitcoins from anywhere (e.g., from the Japan to the U.S.) instantly for free. Scarce - the supply of bitcoin is predetermined so inflation is factored in. Not government issued - with fiat currencies in a fractional reserve system there is a real risk that a country will make poor decisions over time and devalue their currency." SM: "What security controls are in place to protect customers and vendors/suppliers/businesses (ties into the transaction verification equipment)?" CA: "Apart from sourcing servers and building our data center, customers / suppliers / vendors are not directly involved in the BTCS' operations so I'm not sure the question is relevant to our transaction verification services operations." SM: "Can you elaborate on what to expect from the Bitcoin Shop/Spondoolies merger?" CA: "The digital currency ecosystem is similar to the Internet in 1995, i.e. very few companies are generating revenue. As a combined company, we plan to build a fully integrated transaction verification services business, which will be our revenue and profit engine (similar to Google with advertising) as we explore and develop other blockchain technologies. Spondoolies recently announced 2014 revenue of $28 million, and we believe our fully integrated mining efforts should allow us as combined company to continue to grow revenue and earnings and capture additional margin. Further BTCS has an 83,000 square foot facility to expand mining operations into." SM: "What is the future of Bitcoin?" CA: "Bitcoin - and more importantly blockchain technologies - have the ability to fundamentally change the world in the same way the Internet did. The 'genie is out of the bottle' and it is likely not going away." SM: "Why are hackers/ransomware/cyber-criminals so interested in being paid in Bitcoin?" CA: "Bitcoin is essentially digital cash, and once you have it, you own it. The downside is that every transaction is recorded on the blockchain, so identities can be associated to public addresses, meaning owners of stolen bitcoins can be found. In the long run, bitcoin is a poor means for cybercrime, as there is a public ledger of who owns what." SM: "Can you elaborate a bit more on how BTCS performs transaction verification services?" CA: "Please watch video #1 and video #2 for the best details. BTCS runs ASIC servers (see video #1) in a repurposed 83,000 square foot manufacturing facility in NC - see video #3 (it is now filled with servers, so we are working on an updated video). 93% of our equipment is currently manufactured by Spondoolies." SM: "Can you also elaborate on the Spondoolies server product and how they are specifically tailored towards transaction verifications?" CA: "Currently we do not manufacture ASIC servers. Spondoolies is one of only 4-5 companies that manufacture ASICS servers. There are many companies that run data centers with ASIC servers but very few that manufacture them. The big competitors to Spondoolies are Bitmain, Bitfury, and KNC Miner. However, all of these companies are involved in the design, manufacturing and deployment of ASIC servers. Pre-merger, BTCS is engaged in the deployment of ASIC servers and not the design and manufacturing of them, while Spondoolies is engaged in the design and manufacturing of ASIC servers and not the deployment. As a merged entity, we will be fully integrated similar to Bitmain, Bitfury, and KNC Miner and be able to capture the margin on both sides. To put this in perspective, Spondoolies achieved $28m in revenue in 2014 and many of their customers have had a tremendous return on investment (depending on when they started and their cost structure)." SM: "Can you walk me (briefly) through how a transaction involving Bitcoin via BTCS will work at present? Same question for after the merger (if different)?" CA: "The transaction verification services process is not a business-to-consumer endeavor. We simply maintain the network and are rewarded by the network for doing so. Consumers / users of bitcoin never directly engage with us." SM: "Can you tell me a little more about blockchain technology and how it applies to BTCS? CA: "Bitcoin is based on blockchain technology ( see video #2). Many technologies are being built upon Bitcoin's blockchain and we are a participant in securing the blockchain through our transaction verification services business (or often referred to as mining). In our opinion, this is the core of the technology as well as the cash cow in the business. Many bitcoin companies are "pre-revenue" and will be for years to come. To draw a parallel, Google's cash cow is advertising, hence, they have yet to pollute the elegant and simplistic search interface. Yet they experiment with all sorts of other technologies many of which fail i.e. Glass, Answers, iGoogle, etc. and some that succeed i.e. Maps, Android etc. We believe as a merged company, fully integrated mining / transaction services will be our cash cow which catapults our business to the next level and allows us to venture into other Hopefully you've found this discussion engaging and it has helped advance your understanding of the Bitcoin environment. I'd like to thank Mr. Allen for the time he spent on the topic with me. See also: 5 Bitcoin and finance startups to watch from DEMO 2014 Pay with Bitcoin: 10 of the most interesting places to spend it 10 things you should know about Bitcoin and digital currencies 10 mobile payment systems you need to know \|\| Getting mobile with Bitcoin: This article, Getting mobile with Bitcoin , originally appeared on TechRepublic.com . If you haven't heard of Bitcoin, you might be living on another planet. It's a cryptographic-based currency which isn't actually printed or minted but exists solely in electronic (digital) form. The advantages to Bitcoin are that it is internationally-based (no currency exchange or other fees) and used, it is not subject to laws or regulation from one individual entity, and it can purchase goods or services from businesses and fellow consumers. Bitcoins can be converted into any local currency via exchange rates (at the time of this writing one bitcoin is worth $237.47 in U.S. dollars). You can even generate your own bitcoins through a process called "mining" whereby special high-speed computer systems run software to verify a set of bitcoin transactions (known as a "blockchain"). The more work these systems contribute to this effort, the more bitcoins can be earned (however there is a finite number of bitcoins that the world can generate; approximately 21 million). Bitcoins are generally stored in and utilized by an application or mobile wallet. Two such examples are Bitcoin Wallet for Android and Bither for iOS , either of which can be used to obtain, use, sell and track Bitcoins: figurea.jpg Image: Google Play The concept of Bitcoin Wallet is the same as any other mobile payment system; Bitcoins are accessed via a centralized account (not actually stored on the device per se, meaning your device isn't required nor must be powered up for someone to send you Bitcoins). The app is just a front end to manage the Bitcoins. As it enters its sixth year of existence, the Bitcoin has rolled forward with steady momentum and its popularity continues to grow. As is usually the case with technological advancements, new possibilities are also arising for those savvy enough to stay ahead of the curve. Entire industries are springing up around Bitcoin and one such example involves a merger between two companies called The Bitcoin Shop and Spondoolies-Tech. Story continues The Bitcoin Shop (aka "BTCS") provides Bitcoin (and other digital currency) transaction verification services. It's goal is to build a universal platform for digital currency to provide a single point of access for users to engage in their ecosystem. Consequently, BTCS is investing $1.5m in a transaction verification server manufacturer named Spondoolies-Tech Ltd (aka "Spondoolies"). The motivation behind the merger is to "create the world's first publicly traded company to produce Bitcoin transaction verification equipment and deploy Bitcoin mining resources." I spoke with Charles Allen, CEO of BTCS to find out more about Bitcoin and the details of the BTCS-Spondoolies merger. Scott Matteson: "How do Bitcoin mobile apps work (specifically via Bitcoin Shop's context)?" Charles Allen: "Bitcoin Shop ("BTCS") does not currently have a mobile app. However many digital companies offer iPhone and Android compatible apps most of which are bitcoin wallets or price feeds." SM: "What is the advantage of Bitcoin over traditional currency?" CA: "There are many advantages of Bitcoin compared to fiat currency. Below are some key differentiators: Highly divisible compared to fiat currencies Globally transferable - e.g. in the current system, money can be sent around the world in a matter of days via wires but this is costly for small transactions and slow in today's age. With bitcoin, for example, one can send their bitcoins from anywhere (e.g., from the Japan to the U.S.) instantly for free. Scarce - the supply of bitcoin is predetermined so inflation is factored in. Not government issued - with fiat currencies in a fractional reserve system there is a real risk that a country will make poor decisions over time and devalue their currency." SM: "What security controls are in place to protect customers and vendors/suppliers/businesses (ties into the transaction verification equipment)?" CA: "Apart from sourcing servers and building our data center, customers / suppliers / vendors are not directly involved in the BTCS' operations so I'm not sure the question is relevant to our transaction verification services operations." SM: "Can you elaborate on what to expect from the Bitcoin Shop/Spondoolies merger?" CA: "The digital currency ecosystem is similar to the Internet in 1995, i.e. very few companies are generating revenue. As a combined company, we plan to build a fully integrated transaction verification services business, which will be our revenue and profit engine (similar to Google with advertising) as we explore and develop other blockchain technologies. Spondoolies recently announced 2014 revenue of $28 million, and we believe our fully integrated mining efforts should allow us as combined company to continue to grow revenue and earnings and capture additional margin. Further BTCS has an 83,000 square foot facility to expand mining operations into." SM: "What is the future of Bitcoin?" CA: "Bitcoin - and more importantly blockchain technologies - have the ability to fundamentally change the world in the same way the Internet did. The 'genie is out of the bottle' and it is likely not going away." SM: "Why are hackers/ransomware/cyber-criminals so interested in being paid in Bitcoin?" CA: "Bitcoin is essentially digital cash, and once you have it, you own it. The downside is that every transaction is recorded on the blockchain, so identities can be associated to public addresses, meaning owners of stolen bitcoins can be found. In the long run, bitcoin is a poor means for cybercrime, as there is a public ledger of who owns what." SM: "Can you elaborate a bit more on how BTCS performs transaction verification services?" CA: "Please watch video #1 and video #2 for the best details. BTCS runs ASIC servers (see video #1) in a repurposed 83,000 square foot manufacturing facility in NC - see video #3 (it is now filled with servers, so we are working on an updated video). 93% of our equipment is currently manufactured by Spondoolies." SM: "Can you also elaborate on the Spondoolies server product and how they are specifically tailored towards transaction verifications?" CA: "Currently we do not manufacture ASIC servers. Spondoolies is one of only 4-5 companies that manufacture ASICS servers. There are many companies that run data centers with ASIC servers but very few that manufacture them. The big competitors to Spondoolies are Bitmain, Bitfury, and KNC Miner. However, all of these companies are involved in the design, manufacturing and deployment of ASIC servers. Pre-merger, BTCS is engaged in the deployment of ASIC servers and not the design and manufacturing of them, while Spondoolies is engaged in the design and manufacturing of ASIC servers and not the deployment. As a merged entity, we will be fully integrated similar to Bitmain, Bitfury, and KNC Miner and be able to capture the margin on both sides. To put this in perspective, Spondoolies achieved $28m in revenue in 2014 and many of their customers have had a tremendous return on investment (depending on when they started and their cost structure)." SM: "Can you walk me (briefly) through how a transaction involving Bitcoin via BTCS will work at present? Same question for after the merger (if different)?" CA: "The transaction verification services process is not a business-to-consumer endeavor. We simply maintain the network and are rewarded by the network for doing so. Consumers / users of bitcoin never directly engage with us." SM: "Can you tell me a little more about blockchain technology and how it applies to BTCS? CA: "Bitcoin is based on blockchain technology ( see video #2). Many technologies are being built upon Bitcoin's blockchain and we are a participant in securing the blockchain through our transaction verification services business (or often referred to as mining). In our opinion, this is the core of the technology as well as the cash cow in the business. Many bitcoin companies are "pre-revenue" and will be for years to come. To draw a parallel, Google's cash cow is advertising, hence, they have yet to pollute the elegant and simplistic search interface. Yet they experiment with all sorts of other technologies many of which fail i.e. Glass, Answers, iGoogle, etc. and some that succeed i.e. Maps, Android etc. We believe as a merged company, fully integrated mining / transaction services will be our cash cow which catapults our business to the next level and allows us to venture into other Hopefully you've found this discussion engaging and it has helped advance your understanding of the Bitcoin environment. I'd like to thank Mr. Allen for the time he spent on the topic with me. See also: 5 Bitcoin and finance startups to watch from DEMO 2014 Pay with Bitcoin: 10 of the most interesting places to spend it 10 things you should know about Bitcoin and digital currencies 10 mobile payment systems you need to know \|\| Getting mobile with Bitcoin: This article, Getting mobile with Bitcoin , originally appeared on TechRepublic.com . If you haven't heard of Bitcoin, you might be living on another planet. It's a cryptographic-based currency which isn't actually printed or minted but exists solely in electronic (digital) form. The advantages to Bitcoin are that it is internationally-based (no currency exchange or other fees) and used, it is not subject to laws or regulation from one individual entity, and it can purchase goods or services from businesses and fellow consumers. Bitcoins can be converted into any local currency via exchange rates (at the time of this writing one bitcoin is worth $237.47 in U.S. dollars). You can even generate your own bitcoins through a process called "mining" whereby special high-speed computer systems run software to verify a set of bitcoin transactions (known as a "blockchain"). The more work these systems contribute to this effort, the more bitcoins can be earned (however there is a finite number of bitcoins that the world can generate; approximately 21 million). Bitcoins are generally stored in and utilized by an application or mobile wallet. Two such examples are Bitcoin Wallet for Android and Bither for iOS , either of which can be used to obtain, use, sell and track Bitcoins: figurea.jpg Image: Google Play The concept of Bitcoin Wallet is the same as any other mobile payment system; Bitcoins are accessed via a centralized account (not actually stored on the device per se, meaning your device isn't required nor must be powered up for someone to send you Bitcoins). The app is just a front end to manage the Bitcoins. As it enters its sixth year of existence, the Bitcoin has rolled forward with steady momentum and its popularity continues to grow. As is usually the case with technological advancements, new possibilities are also arising for those savvy enough to stay ahead of the curve. Entire industries are springing up around Bitcoin and one such example involves a merger between two companies called The Bitcoin Shop and Spondoolies-Tech. Story continues The Bitcoin Shop (aka "BTCS") provides Bitcoin (and other digital currency) transaction verification services. It's goal is to build a universal platform for digital currency to provide a single point of access for users to engage in their ecosystem. Consequently, BTCS is investing $1.5m in a transaction verification server manufacturer named Spondoolies-Tech Ltd (aka "Spondoolies"). The motivation behind the merger is to "create the world's first publicly traded company to produce Bitcoin transaction verification equipment and deploy Bitcoin mining resources." I spoke with Charles Allen, CEO of BTCS to find out more about Bitcoin and the details of the BTCS-Spondoolies merger. Scott Matteson: "How do Bitcoin mobile apps work (specifically via Bitcoin Shop's context)?" Charles Allen: "Bitcoin Shop ("BTCS") does not currently have a mobile app. However many digital companies offer iPhone and Android compatible apps most of which are bitcoin wallets or price feeds." SM: "What is the advantage of Bitcoin over traditional currency?" CA: "There are many advantages of Bitcoin compared to fiat currency. Below are some key differentiators: Highly divisible compared to fiat currencies Globally transferable - e.g. in the current system, money can be sent around the world in a matter of days via wires but this is costly for small transactions and slow in today's age. With bitcoin, for example, one can send their bitcoins from anywhere (e.g., from the Japan to the U.S.) instantly for free. Scarce - the supply of bitcoin is predetermined so inflation is factored in. Not government issued - with fiat currencies in a fractional reserve system there is a real risk that a country will make poor decisions over time and devalue their currency." SM: "What security controls are in place to protect customers and vendors/suppliers/businesses (ties into the transaction verification equipment)?" CA: "Apart from sourcing servers and building our data center, customers / suppliers / vendors are not directly involved in the BTCS' operations so I'm not sure the question is relevant to our transaction verification services operations." SM: "Can you elaborate on what to expect from the Bitcoin Shop/Spondoolies merger?" CA: "The digital currency ecosystem is similar to the Internet in 1995, i.e. very few companies are generating revenue. As a combined company, we plan to build a fully integrated transaction verification services business, which will be our revenue and profit engine (similar to Google with advertising) as we explore and develop other blockchain technologies. Spondoolies recently announced 2014 revenue of $28 million, and we believe our fully integrated mining efforts should allow us as combined company to continue to grow revenue and earnings and capture additional margin. Further BTCS has an 83,000 square foot facility to expand mining operations into." SM: "What is the future of Bitcoin?" CA: "Bitcoin - and more importantly blockchain technologies - have the ability to fundamentally change the world in the same way the Internet did. The 'genie is out of the bottle' and it is likely not going away." SM: "Why are hackers/ransomware/cyber-criminals so interested in being paid in Bitcoin?" CA: "Bitcoin is essentially digital cash, and once you have it, you own it. The downside is that every transaction is recorded on the blockchain, so identities can be associated to public addresses, meaning owners of stolen bitcoins can be found. In the long run, bitcoin is a poor means for cybercrime, as there is a public ledger of who owns what." SM: "Can you elaborate a bit more on how BTCS performs transaction verification services?" CA: "Please watch video #1 and video #2 for the best details. BTCS runs ASIC servers (see video #1) in a repurposed 83,000 square foot manufacturing facility in NC - see video #3 (it is now filled with servers, so we are working on an updated video). 93% of our equipment is currently manufactured by Spondoolies." SM: "Can you also elaborate on the Spondoolies server product and how they are specifically tailored towards transaction verifications?" CA: "Currently we do not manufacture ASIC servers. Spondoolies is one of only 4-5 companies that manufacture ASICS servers. There are many companies that run data centers with ASIC servers but very few that manufacture them. The big competitors to Spondoolies are Bitmain, Bitfury, and KNC Miner. However, all of these companies are involved in the design, manufacturing and deployment of ASIC servers. Pre-merger, BTCS is engaged in the deployment of ASIC servers and not the design and manufacturing of them, while Spondoolies is engaged in the design and manufacturing of ASIC servers and not the deployment. As a merged entity, we will be fully integrated similar to Bitmain, Bitfury, and KNC Miner and be able to capture the margin on both sides. To put this in perspective, Spondoolies achieved $28m in revenue in 2014 and many of their customers have had a tremendous return on investment (depending on when they started and their cost structure)." SM: "Can you walk me (briefly) through how a transaction involving Bitcoin via BTCS will work at present? Same question for after the merger (if different)?" CA: "The transaction verification services process is not a business-to-consumer endeavor. We simply maintain the network and are rewarded by the network for doing so. Consumers / users of bitcoin never directly engage with us." SM: "Can you tell me a little more about blockchain technology and how it applies to BTCS? CA: "Bitcoin is based on blockchain technology ( see video #2). Many technologies are being built upon Bitcoin's blockchain and we are a participant in securing the blockchain through our transaction verification services business (or often referred to as mining). In our opinion, this is the core of the technology as well as the cash cow in the business. Many bitcoin companies are "pre-revenue" and will be for years to come. To draw a parallel, Google's cash cow is advertising, hence, they have yet to pollute the elegant and simplistic search interface. Yet they experiment with all sorts of other technologies many of which fail i.e. Glass, Answers, iGoogle, etc. and some that succeed i.e. Maps, Android etc. We believe as a merged company, fully integrated mining / transaction services will be our cash cow which catapults our business to the next level and allows us to venture into other Hopefully you've found this discussion engaging and it has helped advance your understanding of the Bitcoin environment. I'd like to thank Mr. Allen for the time he spent on the topic with me. See also: 5 Bitcoin and finance startups to watch from DEMO 2014 Pay with Bitcoin: 10 of the most interesting places to spend it 10 things you should know about Bitcoin and digital currencies 10 mobile payment systems you need to know \|\| Marijuana Regulations Questioned As Number Of Exposed Children Rises: As marijuana becomes a legal drug in more U.S. states, regulators are struggling to catch up with the growing number of issues that come with a new market. Political, social and health-related issues have all been in the spotlight when it comes to marijuana, but a newstudyby the Nationwide Children's Hospital proves that there is more to consider when it comes to legal weed. Exposure On The Rise The study showed that over the past seven years, marijuana exposure among young children rose by 145.7 percent. During that same time period, states with legal marijuana laws saw that figure rise by more than 600 percent. Even more concerning was data that showed that the majority of those children were less than three years old. Related Link:Evolving Regulations Make Marijuana Edibles A Difficult Industry To Navigate Edibles To Blame? One major reason for the rise in accidental exposure among children has been the advent of edible marijuana products. As the typical pot user is often a non-smoker, ingestibles are on the rise. More companies continue to release edible ways to feel the psychoactive effects of THC. Brownies, cookies and even breath mints are sold laced with THC, and young children are unable to detect the difference between an everyday treat and one containing marijuana. Better Packaging The study suggests that regulators in states where marijuana is legal haven't been able to keep up with the growing number of risks surrounding the drug. Though most states require marijuana products to be clearly labeled in child-proof packaging, many feel that more effort needs to be made in educating consumers on the dangers of accidental marijuana exposure among children. Image Credit: Public Domain See more from Benzinga • Bitcoin Theft Isn't Reserved For Hackers • Netflix Dives Deeper Into Europe Despite Murky Waters • Beverage Makers Hope To Ride The Craft Beer Wave © 2015 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. [Social Media Buzz] Bitcoin Price Weekly Analysis – Retest of 235.00 Likely: Bitcoin price struggled recently, but this past week ... http://bit.ly/1SenZph \|\| In the last 10 mins, there were arb opps spanning 20 exchange pair(s), yielding profits ranging between $0.00 and $1,358.39 #bitcoin #btc \|\| Bitcoin Price Weekly Analysis – Retest of 235.00 Likely http://www.fxinter.net/en/free-realtime-forex-news.aspx?ID=113550&direct=Bitcoin+Price+Weekly+Analysis+%e2%80%93+Retest+of+235.00+Likely … \|\| $232.15 at 01:45 UTC ...	236.82, 250.90, 249.28, 249.01, 244.61, 245.21, 243.94, 246.99, 244.30, 240.51
Given the historical Bitcoin prices from the last 90 days, predict the next 10 daily closing prices. The historical prices are: 7117.21, 7429.72, 7550.90, 7569.94, 7679.87, 7795.60, 7807.06, 8801.04, 8658.55, 8864.77, 8988.60, 8897.47, 8912.65, 9003.07, 9268.76, 9951.52, 9842.67, 9593.90, 8756.43, 8601.80, 8804.48, 9269.99, 9733.72, 9328.20, 9377.01, 9670.74, 9726.58, 9729.04, 9522.98, 9081.76, 9182.58, 9209.29, 8790.37, 8906.93, 8835.05, 9181.02, 9525.75, 9439.12, 9700.41, 9461.06, 10167.27, 9529.80, 9656.72, 9800.64, 9665.53, 9653.68, 9758.85, 9771.49, 9795.70, 9870.09, 9321.78, 9480.84, 9475.28, 9386.79, 9450.70, 9538.02, 9480.25, 9411.84, 9288.02, 9332.34, 9303.63, 9648.72, 9629.66, 9313.61, 9264.81, 9162.92, 9045.39, 9143.58, 9190.85, 9137.99, 9228.33, 9123.41, 9087.30, 9132.49, 9073.94, 9375.47, 9252.28, 9428.33, 9277.97, 9278.81, 9240.35, 9276.50, 9243.61, 9243.21, 9192.84, 9132.23, 9151.39, 9159.04, 9185.82, 9164.23.	[Bitcoin Technical Analysis for 2020-07-20] Volume: 13755604146, RSI (14-day): 46.08, 50-day EMA: 9210.98, 200-day EMA: 8696.47 [Wider Market Context] Gold Price: 1815.90, Gold RSI: 63.68 Oil Price: 40.81, Oil RSI: 59.39 [Recent News (last 7 days)] Twitter: Hack hit 130 accounts, company 'embarrassed': OAKLAND, Calif. (AP) — Twitter says the hack that compromised the accounts of some of its most high-profile users targeted 130 people. The hackers were able to reset the passwords of 45 of those accounts. The San Francisco=based company said in a blog post Saturday that for up to eight of these accounts the attackers also downloaded the account’s information through the “Your Twitter Data” tool. None of the eight were verified accounts, Twitter said, adding that it is contacting the owners of the affected accounts. “We’re embarrassed, we’re disappointed, and more than anything, we’re sorry. We know that we must work to regain your trust, and we will support all efforts to bring the perpetrators to justice,” Twitter said in the blog post. The July 17 attack broke into the Twitter accounts of world leaders, celebrities and tech moguls in one of the most high-profile security breaches in recent years. The attackers sent out tweets from the accounts of the public figures, offering to send $2,000 for every $1,000 sent to an anonymous Bitcoin address. It highlighted a major flaw with the service millions of people have come to rely on as an essential communications tool. Allison Nixon, chief research officer at cybersecurity firm 221B said in an email Sunday that the people behind the attack appear to have come from the “OG” community, a group interested in original, short Twitter handles such as @a, @b or @c, for instance. "Based upon what we have seen,the motivation for the most recent Twitter attack is similar to previous incidents we have observed in the OG community — a combination of financial incentive, technical bragging rights, challenge, and disruption,” Nixon wrote. “The OG community is not known to be tied to any nation state. Rather they are a disorganized crime community with a basic skillset and are a loosely organized group of serial fraudsters.” While this attack did not appear go further than the Bitcoin ruse — at least for now — it raises questions about Twitter’s ability to secure its service against election interference and misinformation ahead of the U.S. presidential election. “Entire markets and potentially elections may be manipulated or altered in this way,” Nixon said. "Victims of account takeovers generally do not know that the fraud has occurred, and generally cannot take security precautions to prevent it.” \|\| Twitter: Hack hit 130 accounts, company 'embarrassed': OAKLAND, Calif. (AP) — Twitter says the hack that compromised the accounts of some of its most high-profile users targeted 130 people. The hackers were able to reset the passwords of 45 of those accounts. The San Francisco=based company said in ablog post Saturdaythat for up to eight of these accounts the attackers also downloaded the account’s information through the “Your Twitter Data” tool. None of the eight were verified accounts, Twitter said, adding that it is contacting the owners of the affected accounts. “We’re embarrassed, we’re disappointed, and more than anything, we’re sorry. We know that we must work to regain your trust, and we will support all efforts to bring the perpetrators to justice,” Twitter said in the blog post. The July 17 attack broke into the Twitter accounts of world leaders, celebrities and tech moguls in one of the most high-profile security breaches in recent years. The attackers sent out tweets from the accounts of the public figures, offering to send $2,000 for every $1,000 sent to an anonymous Bitcoin address. It highlighted amajor flawwith the service millions of people have come to rely on as an essential communications tool. Allison Nixon, chief research officer at cybersecurity firm 221B said in an email Sunday that the people behind the attack appear to have come from the “OG” community, a group interested in original, short Twitter handles such as @a, @b or @c, for instance. "Based upon what we have seen,the motivation for the most recent Twitter attack is similar to previous incidents we have observed in the OG community — a combination of financial incentive, technical bragging rights, challenge, and disruption,” Nixon wrote. “The OG community is not known to be tied to any nation state. Rather they are a disorganized crime community with a basic skillset and are a loosely organized group of serial fraudsters.” While this attack did not appear go further than the Bitcoin ruse — at least for now — it raises questions about Twitter’s ability to secure its service against election interference and misinformation ahead of the U.S. presidential election. “Entire markets and potentially elections may be manipulated or altered in this way,” Nixon said. "Victims of account takeovers generally do not know that the fraud has occurred, and generally cannot take security precautions to prevent it.” \|\| Crypto Long & Short: Why the Twitter Hack Was Good for Bitcoin (and It’s Not the Media Attention): Every year has a handful of days that you’ll never forget. Sometimes for great reasons, sometimes for awful ones, and sometimes because a level of noise and action coalesces into an awareness that something big has shifted. Wednesday was one of those days, with the staccato of compromised Twitter accounts (including ours) escalating to reach prominent public figures including current and former heads of state. The scale of the hack was spectacular. Y ou’re reading Crypto Long & Short , a newsletter that looks closely at the forces driving cryptocurrency markets. Authored by CoinDesk’s head of research, Noelle Acheson, it goes out every Sunday and offers a recap of the week – with insights and analysis – from a professional investor’s point of view. You can subscribe here . Related: Bitcoin Futures Trading Volume Slips to 3-Month Low on CME The mainstream press called this a “bitcoin scam,” and to some extent it was – the hacker set up the typical ploy of promising to send back double whatever amount of bitcoin anyone sent to a certain wallet. It’s amazing that people fall for this. But some people do – a total of $123,000 worth of BTC was sent in approximately 400 transactions in total (some may have been the hacker recycling coins to inflate the activity). 17 transactions sent more than $1,000. Glossing over the fact that this is an astonishingly small amount for the scale of the hack, some skeptics took the opportunity to remind everyone how bitcoin was a scammer’s paradise. Close the door Some commentators went as far as to call for the banning of bitcoin. “If bitcoin were illegal,” goes the reasoning, “this wouldn’t happen.” Of course, this brought out the defenders by the droves, who pointed out – among other compelling arguments – that making something illegal doesn’t stop it from happening; it often just makes it harder to monitor. And banning bitcoin would not stop its use nor eliminate its value. Story continues But it did highlight a pervasive concern among many mainstream investors: a lack of regulatory clarity. Could the U.S. decide to outlaw bitcoin transactions within its jurisdiction? The very possibility is understandably enough to keep cautious investors away. Related: The Origins of the World's Oldest Bitcoin Metric, Explained Technically, the U.S. could not ban bitcoin on a global scale – bitcoin lives on a distributed network that would continue to exist even if U.S.-based nodes shut off and U.S.-based users dropped out. One of the strengths of bitcoin is that it is out of the range of state actors. But, realistically, making the holding or transacting of bitcoin illegal for U.S.-based entities and individuals would be a big shock to the price as its store of value narrative would take a significant hit. What’s more, the U.S. has considerable influence over the FATF, which sets anti-money laundering and anti-terrorist financing systems for the world’s banks and payments companies. The organization could be pressured to penalize governments that allow cryptocurrency services within their jurisdiction. Yet all of these concerns seem unfounded. Last week, the FATF announced its intention to step up crypto asset supervision with a view to building a global framework, which implies an interest in monitoring rather than stopping. And in the wake of the Twitter hack, the talk coming out of Washington is not about bitcoin. The concern is the centralization of platforms. Twitter is under scrutiny much more than bitcoin. If regulators were going to jump on the ban-bitcoin bandwagon, given the media frenzy, now would be the time. That they have not done so is a strong sign of acceptance. True, there may yet be hiccups ahead in the road to systemic support – but so far, the concern is more about the vulnerabilities in centralized services. Furthermore, the amount of bitcoin involved in the scam is minuscule compared to what the take could have been, given the scale of the operation. Maybe the public is becoming more scam-savvy? And we should all be grateful that the hackers only wanted bitcoin, when you consider that they had control of the Twitter accounts of the likes of Elon Musk, Joe Biden, Benjamin Netanyahu, Barack Obama, Apple… The lack of focus on bitcoin in Washington this week is a step forward, especially in the eyes of professional investors eager for greater regulatory clarity. If indeed bitcoin does weather this without louder calls for a clampdown, that is a strong sign that regulators acknowledge that bitcoin is here to stay. I see you Another way in which the Twitter hack was positive for bitcoin is the spotlight shone on the forensic transparency of the network. Within hours of the hack, blockchain analysts were already constructing profiles of the hacker’s history and tracking the movements of the ill-gotten funds. The wallets in question may not have a name and address associated with them, but they are indelibly there for anyone to monitor, and transactions into and out of these wallets cannot be hidden nor undone. Digital fiat money transfers may have associated names and addresses, but movements are easier to obscure. And names and addresses can be faked. What’s more, the fact that anyone can access this data spreads the potential for useful information coming to light. While there may initially be different interpretations of the addresses and transfers, a consensus interpretation tends to emerge, which is likely to be a help to law enforcement. And forensic techniques are advancing, as is the diversity of approaches to blockchain data analysis. This should reassure regulators that bitcoin-related crime is not the threat to society some skeptics claim. The bigger question It is true that having bitcoin in mainstream headlines is good for its “brand recognition” – but, in this case, the association with scams is not in its favor. Yet while politicians do pay attention to what the media is saying, by next week the “bitcoin scam” headlines will have faded into the pixels of time, given the frenetic news cycle we live in. And the market itself does not seem worried – the bitcoin price barely budged in the aftermath of the news. The lasting effect will be a deeper understanding for those willing to ask the right questions, not just about bitcoin’s seizure resistance but also about how one weak access point left so much power in a bad actor’s hands. That is a third beneficial outcome that should strengthen interest in blockchain applications beyond crypto assets. Growing concern over centralized vulnerabilities in communication platforms is just the beginning. From there to worrying about vulnerabilities in the centralized financial systems on which our society runs is not that big a step. Anyone know what’s going on yet? This week exemplified the seesaw of good news swiftly followed by dampeners. Better-than-expected earnings were offset by forecast downgrades, which seem to be spooking investors. Vaccine optimism, buoyed by positive results from a few laboratories, yet again got tempered by vaccine realism, as even really good candidates could take years before they become widely available. And when it comes to the evolution of the number of COVID-19 cases, positive news in some areas was offset by devastating news in others. The S&P 500 is very close to having clawed back its losses for the year-to-date, and by the time you read this, might well have done so. It is 7% higher than this time last year. I’ve given up wondering what economic outlook it is discounting. Bitcoin has had a lackluster performance so far this month, yet it continues to outperform other major indices and assets on a year-to-date basis. Its lack of volatility has traders champing at the bit, however, and the emotional tension of waiting for a breakout, any breakout, could soon start to impact trading patterns. CHAIN LINKS Crypto asset fund manager Grayscale Investments* released its Q2 report, which revealed new investment of over $900 million over the quarter, its largest quarterly inflow to date, and 80% more than the previous quarterly high in Q1. TAKEAWAY: While the BTC price has been stagnant of late, it appreciated over 40% in Q2, largely as part of a broader market recovery from post-crash lows, but also perhaps partially because of growing institutional support. We don’t know, however, how much of the inflow is new investment and how much is recycled as qualified investors sell their holding in the market at a premium and buy back in at par. (Grayscale is owned by DCG, also the parent of CoinDesk.) Lex Sokolin, the CMO and Global Fintech Co-Head at Ethereum laboratory ConsenSys, published an analysis of the rumored upcoming listing of crypto exchange Coinbase. TAKEAWAY: The lack of available data at the current time is one major obstacle for analysts trying to get a feel for what a listing valuation could be, but Lex does an admirable job of scraping information from public sources. Yet even if/when listing documents are filed and more numbers become available, analysts will still have a hard time figuring this one out: what exactly is Coinbase? Is it an exchange? A bank? A custodian? Crypto data provider Coin Metrics has published a report on stablecoins that looks into their explosive growth: It took supply five years to reach $6 billion in March 2012, and only four months since then to double that. TAKEAWAY: The report takes a close look at pegs – not everyone realizes that dollar stablecoins are not always worth $1, and that the difference can exert a material influence on supply as issuers arbitrage profit opportunities. Crypto fund manager Arca reviewed its 2020 predictions from January, and updated them for the rest of the year. TAKEAWAY: The ones I found particularly interesting included the growth in non-crypto companies issuing crypto tokens, the rise of non-fungible tokens as an asset group and the growing influence of younger generations (I wrote more about this here ). Bitcoin miners sent less bitcoin to exchanges during the second quarter of 2020 than at any time over the past 12 months. TAKEAWAY: This can be taken as bullish (miners are choosing to hold onto their mined bitcoin because they believe the price will go up) or bearish (they would rather not sell into what they think will be a weak market). Either way, we should remember that newly mined bitcoins now account for a very small fraction of trading volume, so the influence of miners’ decisions is mitigated. Their actions are worth watching, however, as most have close relationships with OTC desks that move high volumes and have their ear to the ground. The number of addresses holding a large number of bitcoins, known as “whale addresses,” has declined to a 14-month low. TAKEAWAY: As with the miner flows metric above, this can also be either bearish or bullish. It’s not positive news for the asset price outlook to see large holders reduce their stakes; but a broader distribution of ownership is better for price resilience. U.S.-based digital asset firm BitOoda published a report, together with the Fidelity Center for Applied Technology, that shows 50% of bitcoin mining is in China, and 14% in the U.S. TAKEAWAY: Earlier estimates had put China’s market share at 65%, so if these figures are accurate, the bitcoin mining industry is becoming more decentralized and less dependent on China. Crypto financial app Abra has settled charges from the SEC and the CFTC relating to its offering of synthetic swaps to retail investors without registering or selling them on a recognized national exchange. Abra and its Philippines-based partner company Plutus will pay $300,000 in fines and do not have to acknowledge the accusations. TAKEAWAY: This is the long arm of the law in action. Abra limited its offering to non-U.S. investors, and moved most of its operations overseas. But the regulators determined that having an office in San Francisco from which the contracts were marketed and hedged, serving a handful of U.S. retail investors that got through the geofencing, and having marketed to retail investors in the early days of the contract, put Abra in violation of securities laws. In other words, it doesn’t matter where your main base is – if your activity touches U.S. citizens and/or U.S. soil, you fall under U.S. jurisdiction. On a recent panel, Linda Lacewell, superintendent of the New York Department of Financial Services (NYDFS), said that the recent changes to the BitLicense law were being well received. TAKEAWAY: The original BitLicense, which emerged just over five years ago as a requirement for any crypto business wanting to operate in the state of New York, received significant criticism for its onerous application obligations and the high cost of compliance. Lacewell introduced some reforms to the regulation that aimed to lower the barriers and encourage more experimentation. It’s not surprising they are being well received, but it is good news to get the confirmation. Many crypto businesses chose to not do business in New York as a result of the original design, and the update does not mean they will come back. But Wall Street is one of the greatest financial centers in the world, and if crypto is going to run with the “big boys,” a presence at the heart of finance will be a step forward in the push to position crypto assets as a respectable investment for institutional portfolios. Bitcoin Core contributor Jeremy Rubin has revealed his work on a new smart-contract language for Bitcoin called Sapio, which he hopes will increase the “financial self-sovereignty” of users. TAKEAWAY: It’s worth keeping an eye on technological developments even in assets that, for many, are based on the store-of-value narrative. Enhanced smart contract ability will not only potentially lend application functionalities to Bitcoin, giving it a “residual value” and further likening it to gold (which, as well as an investment asset, is used in jewelry, technology, dentistry, etc.); it could also make it easier and/or safer to custody and exchange. BitGo will offer API support for the latest “Travel Rule” guidelines from the FATF that stipulate originators and beneficiaries of financial transactions over $1,000 be identified. TAKEAWAY: This was always going to be a difficult proposition with crypto assets, since identification of both ends of a transaction is often not possible, and goes against the integral idea that transfers can be decentralized and independent of a third party. The FATF’s reach is long, however, and non-compliance is likely to be costly for jurisdictions that cannot control crypto activity within their boundaries. Technological aids like BitGo’s API, provided by a firm with a long history of custodial services, are likely to calm fears of both regulators and clients. Plus, BitGo’s origin is as a custody technology provider – in 2013, it launched the first multi-sig wallet, a staple of custody technology today. Also, Shyft Network this week announced that it is releasing its blockchain-based solution to help crypto companies comply with the FATF requirements. TAKEAWAY: Tools like this are trying to get ahead of what is going to be a significant problem: the security vulnerabilities inherent in the FATF’s requirement to send sensitive financial information back and forth. The crypto options market is growing fast, both in volumes and in number of platforms. Gate.io, a relatively small offshore exchange, has launched a new options trading feature, and Singapore-based exchange Huobi, which already offers futures and perpetual swaps, plans to do so later this year. TAKEAWAY: Growth in options is a sign of a maturing market, and a necessary step for greater institutional involvement. How long this growth will continue is an open question, especially given the declining volumes in crypto spot and futures markets. Switzerland-based crypto custodian Metaco has closed a Series A round that was reportedly oversubscribed by a factor of two. Investors include Standard Chartered, smart-card and currency note printer Giesecke+Devrient, Zürcher Kantonalbank (the fourth largest bank in Switzerland), and the country’s postal service Swiss Post. TAKEAWAY: That this was reportedly oversubscribed is a sign of growing interest in Europe in digital asset market infrastructure. Also, the mix and profile of the investors is intriguing. Podcast episodes worth listening to: Does COVID-19 Have the World Rethinking Dollar Supremacy? – The Breakdown, Nathaniel Whittemore Why Bitcoin Now: Michael Casey and Niall Ferguson on How Bitcoin Fits in the History of Money – Unchained, Laura Shin Angrynomics: Why the World is So Angry, with Mark Byth, Eric Lonergan and Linda Yueh – Intelligence Squared Caitlin Long (Avanti Financial Group) on Bitcoin banks and the Wyoming SPDI – On the Brink, Nic Carter Lyn Alden: The Road to Inflation – Macro Voices, Erik Townsend Related Stories Crypto Long & Short: Why the Twitter Hack Was Good for Bitcoin (and It’s Not the Media Attention) Crypto Long & Short: Why the Twitter Hack Was Good for Bitcoin (and It’s Not the Media Attention) \|\| Crypto Long & Short: Why the Twitter Hack Was Good for Bitcoin (and It’s Not the Media Attention): Every year has a handful of days that you’ll never forget. Sometimes for great reasons, sometimes for awful ones, and sometimes because a level of noise and action coalesces into an awareness that something big has shifted. Wednesday was one of those days, with the staccato ofcompromised Twitter accounts(including ours) escalating to reach prominent public figures including current and former heads of state. Thescale of the hackwas spectacular. You’re readingCrypto Long & Short, a newsletter that looks closely at the forces driving cryptocurrency markets. Authored by CoinDesk’s head of research, Noelle Acheson, it goes out every Sunday and offers a recap of the week – with insights and analysis – from a professional investor’s point of view.You can subscribe here. Related:Bitcoin Futures Trading Volume Slips to 3-Month Low on CME The mainstream presscalled thisa “bitcoin scam,” and to some extent it was – the hacker set up the typical ploy of promising to send back double whatever amount of bitcoin anyone sent to a certain wallet. It’s amazing that people fall for this. But some people do – a total of $123,000 worth of BTC was sent inapproximately 400 transactionsin total (some may have been the hackerrecycling coinsto inflate the activity). 17 transactions sent more than $1,000. Glossing over the fact that this is an astonishingly small amount for the scale of the hack, some skeptics took the opportunity to remind everyone how bitcoin was ascammer’s paradise. Some commentators went as far as tocall for the banning of bitcoin.“If bitcoin were illegal,”goes the reasoning,“this wouldn’t happen.” Of course, this brought out the defenders by the droves, who pointed out – among other compelling arguments – that making something illegal doesn’t stop it from happening; it often just makes it harder to monitor. And banning bitcoin would not stop its use noreliminate its value. But it did highlight a pervasive concern among many mainstream investors: a lack of regulatory clarity. Could the U.S. decide to outlaw bitcoin transactions within its jurisdiction? The very possibility is understandably enough to keep cautious investors away. Related:The Origins of the World's Oldest Bitcoin Metric, Explained Technically, the U.S. could not ban bitcoin on a global scale – bitcoin lives on a distributed network that would continue to exist even if U.S.-based nodes shut off and U.S.-based users dropped out. One of the strengths of bitcoin is that it is out of the range of state actors. But, realistically, making the holding or transacting of bitcoin illegal for U.S.-based entities and individuals would be a big shock to the price as its store of value narrative would take a significant hit. What’s more, the U.S. hasconsiderable influenceover the FATF, which sets anti-money laundering and anti-terrorist financing systems for the world’s banks and payments companies. The organization could be pressured to penalize governments that allow cryptocurrency services within their jurisdiction.Yet all of these concerns seem unfounded. Last week, the FATFannouncedits intention to step up crypto asset supervision with a view to building a global framework, which implies an interest in monitoring rather than stopping. And in the wake of the Twitter hack, thetalk coming out of Washingtonis not about bitcoin. The concern is the centralization of platforms. Twitter is under scrutiny much more than bitcoin. If regulators were going to jump on the ban-bitcoin bandwagon, given the media frenzy, now would be the time. That they havenotdone so is a strong sign of acceptance. True, there may yet be hiccups ahead in the road to systemic support – but so far, the concern is more about the vulnerabilities in centralized services. Furthermore, the amount of bitcoin involved in the scam is minuscule compared to what the takecouldhave been, given the scale of the operation. Maybe the public is becoming more scam-savvy? And we should all be grateful that the hackers only wanted bitcoin, when you consider that they had control of the Twitter accounts of the likes of Elon Musk, Joe Biden, Benjamin Netanyahu, Barack Obama, Apple… The lack of focus on bitcoin in Washington this week is a step forward, especially in the eyes of professional investors eager for greater regulatory clarity. If indeed bitcoin does weather this without louder calls for a clampdown, that is a strong sign that regulators acknowledge that bitcoin is here to stay. Another way in which the Twitter hack was positive for bitcoin is the spotlight shone on the forensic transparency of the network. Within hours of the hack, blockchain analysts were alreadyconstructing profilesof the hacker’s history andtracking the movementsof the ill-gotten funds. The wallets in question may not have a name and address associated with them, but they are indelibly there for anyone to monitor, and transactions into and out of these wallets cannot be hidden nor undone. Digital fiat money transfers may have associated names and addresses, but movements are easier to obscure. And names and addresses can be faked. What’s more, the fact that anyone can access this data spreads the potential for useful information coming to light. While there may initially bedifferent interpretationsof the addresses and transfers, a consensus interpretation tends to emerge, which is likely to be a help to law enforcement. And forensic techniques are advancing, as is the diversity of approaches to blockchain data analysis. This should reassure regulators that bitcoin-related crime is not the threat to society some skeptics claim. It is true that having bitcoin in mainstream headlines is good for its “brand recognition” – but, in this case, the association with scams is not in its favor. Yet while politicians do pay attention to what the media is saying, by next week the “bitcoin scam” headlines will have faded into the pixels of time, given the frenetic news cycle we live in. And the market itself does not seem worried – the bitcoin pricebarely budgedin the aftermath of the news. The lasting effect will be a deeper understanding for those willing to ask the right questions, not just about bitcoin’sseizure resistancebut also about how one weak access point left so much power in a bad actor’s hands. That is a third beneficial outcome that should strengthen interest in blockchain applications beyond crypto assets. Growing concern overcentralized vulnerabilitiesincommunication platformsis just the beginning. From there to worrying about vulnerabilities in the centralized financial systems on which our society runs is not that big a step. This week exemplified the seesaw of good news swiftly followed by dampeners. Better-than-expected earnings were offset byforecast downgrades,which seem to be spooking investors.Vaccine optimism,buoyed by positive results from a few laboratories, yet again got tempered byvaccine realism,as even really good candidates could take years before they become widely available. And when it comes to the evolution of the number of COVID-19 cases,positive newsin some areas was offset bydevastating newsin others. The S&P 500 is very close to having clawed back its losses for the year-to-date, and by the time you read this, might well have done so. It is 7% higher than this time last year. I’ve given up wondering what economic outlook it is discounting. Bitcoin has had a lackluster performance so far this month, yet it continues to outperform other major indices and assets on a year-to-date basis. Itslack of volatilityhas traders champing at the bit, however, and the emotional tension of waiting for a breakout, any breakout, could soonstart to impacttrading patterns. Crypto asset fund managerGrayscale Investmentsreleased its Q2 report,which revealed new investment of over $900 million over the quarter, its largest quarterly inflow to date, and 80% more than the previous quarterly high in Q1.TAKEAWAY:While the BTC price has been stagnant of late, it appreciated over 40% in Q2, largely as part of a broader market recovery from post-crash lows, but also perhaps partially because of growing institutional support. We don’t know, however, how much of the inflow is new investment and how much is recycled as qualified investors sell their holding in the marketat a premiumand buy back in at par. (Grayscale is owned by DCG, also the parent of CoinDesk.) Lex Sokolin, the CMO and Global Fintech Co-Head at Ethereum laboratory ConsenSys,published an analysisof the rumored upcoming listing of crypto exchangeCoinbase. TAKEAWAY:The lack of available data at the current time is one major obstacle for analysts trying to get a feel for what a listing valuation could be, but Lex does an admirable job of scraping information from public sources. Yet even if/when listing documents are filed and more numbers become available, analysts will still have a hard time figuring this one out: what exactlyisCoinbase? Is it an exchange? A bank? A custodian? Crypto data providerCoin Metricshas published areport on stablecoinsthat looks into their explosive growth: It took supply five years to reach $6 billion in March 2012, and only four months since then to double that.TAKEAWAY:The report takes a close look at pegs – not everyone realizes that dollar stablecoins are not always worth $1, and that the difference can exert a material influence on supply as issuers arbitrage profit opportunities. Crypto fund managerArcareviewed its 2020 predictionsfrom January, and updated them for the rest of the year.TAKEAWAY:The ones I found particularly interesting included the growth in non-crypto companies issuing crypto tokens, the rise of non-fungible tokens as an asset group and the growing influence of younger generations (I wrote moreabout this here). Bitcoin minerssent less bitcointo exchanges during the second quarter of 2020 than at any time over the past 12 months.TAKEAWAY:This can be taken as bullish (miners are choosing to hold onto their mined bitcoin because they believe the price will go up) or bearish (they would rather not sell into what they think will be a weak market). Either way, we should remember that newly mined bitcoins now account for a very small fraction of trading volume, so the influence of miners’ decisions is mitigated. Their actions are worth watching, however, as most have close relationships with OTC desks that move high volumes and have their ear to the ground. The number of addresses holding a large number of bitcoins, known as“whale addresses,”has declined to a 14-month low.TAKEAWAY:As with the miner flows metric above, this can also be either bearish or bullish. It’s not positive news for the asset price outlook to see large holders reduce their stakes; but a broader distribution of ownership is better for price resilience. U.S.-based digital asset firmBitOodapublished a report,together with the Fidelity Center for Applied Technology, that shows 50% of bitcoin mining is in China, and 14% in the U.S.TAKEAWAY:Earlier estimates had put China’s market shareat 65%,so if these figures are accurate, the bitcoin mining industry is becoming more decentralized and less dependent on China. Crypto financial appAbrahassettled charges from the SEC and the CFTCrelating to its offering of synthetic swaps to retail investors without registering or selling them on a recognized national exchange. Abra and its Philippines-based partner company Plutus will pay $300,000 in fines and do not have to acknowledge the accusations.TAKEAWAY:This is the long arm of the law in action. Abra limited its offering to non-U.S. investors, and moved most of its operations overseas. But the regulators determined that having an office in San Francisco from which the contracts were marketed and hedged, serving a handful of U.S. retail investors that got through the geofencing, and having marketed to retail investors in the early days of the contract, put Abra in violation of securities laws. In other words, it doesn’t matter where your main base is – if your activity touches U.S. citizens and/or U.S. soil, you fall under U.S. jurisdiction. On a recent panel, Linda Lacewell, superintendent of the New York Department of Financial Services (NYDFS), said that therecent changes totheBitLicenselaw were being well received.TAKEAWAY:The original BitLicense, which emerged just over five years ago as a requirement for any crypto business wanting to operate in the state of New York, received significant criticism for its onerous application obligations and the high cost of compliance. Lacewell introduced some reforms to the regulation that aimed to lower the barriers and encourage more experimentation. It’s not surprising they are being well received, but it is good news to get the confirmation. Many crypto businesses chose to not do business in New York as a result of the original design, and the update does not mean they will come back. But Wall Street is one of the greatest financial centers in the world, and if crypto is going to run with the “big boys,” a presence at the heart of finance will be a step forward in the push to position crypto assets as a respectable investment for institutional portfolios. Bitcoin Core contributor Jeremy Rubin has revealed his work on anew smart-contract language for BitcoincalledSapio,which he hopes will increase the “financial self-sovereignty” of users.TAKEAWAY:It’s worth keeping an eye on technological developments even in assets that, for many, are based on the store-of-value narrative. Enhanced smart contract ability will not only potentially lend application functionalities to Bitcoin, giving it a “residual value” and further likening it to gold (which, as well as an investment asset, is used in jewelry, technology, dentistry, etc.); it could also make it easier and/or safer to custody and exchange. BitGowill offer API support for the latest “Travel Rule”guidelines from the FATFthat stipulate originators and beneficiaries of financial transactions over $1,000 be identified.TAKEAWAY:This was always going to be a difficult proposition with crypto assets, since identification of both ends of a transaction is often not possible, and goes against the integral idea that transfers can be decentralized and independent of a third party. The FATF’s reach is long, however, and non-compliance is likely to be costly for jurisdictions that cannot control crypto activity within their boundaries. Technological aids like BitGo’s API, provided by a firm with a long history of custodial services, are likely to calm fears of both regulators and clients. Plus, BitGo’s origin is as a custody technology provider – in 2013, it launched the first multi-sig wallet, a staple of custody technology today. Also,Shyft Networkthis week announced thatit is releasingits blockchain-based solution to help crypto companies comply with the FATF requirements.TAKEAWAY:Tools like this are trying to get ahead of what is going to be a significant problem: the security vulnerabilities inherent in the FATF’s requirement to send sensitive financial information back and forth. Thecrypto options marketis growing fast,both in volumes and in number of platforms. Gate.io, a relatively small offshore exchange, has launched a new options trading feature, and Singapore-based exchange Huobi, which already offers futures and perpetual swaps, plans to do so later this year.TAKEAWAY:Growth in options is a sign of a maturing market, and a necessary step for greater institutional involvement. How long this growth will continue is an open question, especially given the declining volumes in crypto spot and futures markets. Switzerland-based crypto custodianMetacohasclosed a Series A roundthat was reportedly oversubscribed by a factor of two. Investors include Standard Chartered, smart-card and currency note printer Giesecke+Devrient, Zürcher Kantonalbank (the fourth largest bank in Switzerland), and the country’s postal service Swiss Post.TAKEAWAY:That this was reportedly oversubscribed is a sign of growing interest in Europe in digital asset market infrastructure. Also, the mix and profile of the investors is intriguing. Podcast episodes worth listening to: • Does COVID-19 Have the World Rethinking Dollar Supremacy?– The Breakdown, Nathaniel Whittemore • Why Bitcoin Now: Michael Casey and Niall Ferguson on How Bitcoin Fits in the History of Money– Unchained, Laura Shin • Angrynomics: Why the World is So Angry, with Mark Byth, Eric Lonergan and Linda Yueh– Intelligence Squared • Caitlin Long (Avanti Financial Group) on Bitcoin banks and the Wyoming SPDI– On the Brink, Nic Carter • Lyn Alden: The Road to Inflation– Macro Voices, Erik Townsend • Crypto Long & Short: Why the Twitter Hack Was Good for Bitcoin (and It’s Not the Media Attention) • Crypto Long & Short: Why the Twitter Hack Was Good for Bitcoin (and It’s Not the Media Attention) \|\| Crypto Long & Short: Why the Twitter Hack Was Good for Bitcoin (and It’s Not the Media Attention): Every year has a handful of days that you’ll never forget. Sometimes for great reasons, sometimes for awful ones, and sometimes because a level of noise and action coalesces into an awareness that something big has shifted. Wednesday was one of those days, with the staccato ofcompromised Twitter accounts(including ours) escalating to reach prominent public figures including current and former heads of state. Thescale of the hackwas spectacular. You’re readingCrypto Long & Short, a newsletter that looks closely at the forces driving cryptocurrency markets. Authored by CoinDesk’s head of research, Noelle Acheson, it goes out every Sunday and offers a recap of the week – with insights and analysis – from a professional investor’s point of view.You can subscribe here. Related:Bitcoin Futures Trading Volume Slips to 3-Month Low on CME The mainstream presscalled thisa “bitcoin scam,” and to some extent it was – the hacker set up the typical ploy of promising to send back double whatever amount of bitcoin anyone sent to a certain wallet. It’s amazing that people fall for this. But some people do – a total of $123,000 worth of BTC was sent inapproximately 400 transactionsin total (some may have been the hackerrecycling coinsto inflate the activity). 17 transactions sent more than $1,000. Glossing over the fact that this is an astonishingly small amount for the scale of the hack, some skeptics took the opportunity to remind everyone how bitcoin was ascammer’s paradise. Some commentators went as far as tocall for the banning of bitcoin.“If bitcoin were illegal,”goes the reasoning,“this wouldn’t happen.” Of course, this brought out the defenders by the droves, who pointed out – among other compelling arguments – that making something illegal doesn’t stop it from happening; it often just makes it harder to monitor. And banning bitcoin would not stop its use noreliminate its value. But it did highlight a pervasive concern among many mainstream investors: a lack of regulatory clarity. Could the U.S. decide to outlaw bitcoin transactions within its jurisdiction? The very possibility is understandably enough to keep cautious investors away. Related:The Origins of the World's Oldest Bitcoin Metric, Explained Technically, the U.S. could not ban bitcoin on a global scale – bitcoin lives on a distributed network that would continue to exist even if U.S.-based nodes shut off and U.S.-based users dropped out. One of the strengths of bitcoin is that it is out of the range of state actors. But, realistically, making the holding or transacting of bitcoin illegal for U.S.-based entities and individuals would be a big shock to the price as its store of value narrative would take a significant hit. What’s more, the U.S. hasconsiderable influenceover the FATF, which sets anti-money laundering and anti-terrorist financing systems for the world’s banks and payments companies. The organization could be pressured to penalize governments that allow cryptocurrency services within their jurisdiction.Yet all of these concerns seem unfounded. Last week, the FATFannouncedits intention to step up crypto asset supervision with a view to building a global framework, which implies an interest in monitoring rather than stopping. And in the wake of the Twitter hack, thetalk coming out of Washingtonis not about bitcoin. The concern is the centralization of platforms. Twitter is under scrutiny much more than bitcoin. If regulators were going to jump on the ban-bitcoin bandwagon, given the media frenzy, now would be the time. That they havenotdone so is a strong sign of acceptance. True, there may yet be hiccups ahead in the road to systemic support – but so far, the concern is more about the vulnerabilities in centralized services. Furthermore, the amount of bitcoin involved in the scam is minuscule compared to what the takecouldhave been, given the scale of the operation. Maybe the public is becoming more scam-savvy? And we should all be grateful that the hackers only wanted bitcoin, when you consider that they had control of the Twitter accounts of the likes of Elon Musk, Joe Biden, Benjamin Netanyahu, Barack Obama, Apple… The lack of focus on bitcoin in Washington this week is a step forward, especially in the eyes of professional investors eager for greater regulatory clarity. If indeed bitcoin does weather this without louder calls for a clampdown, that is a strong sign that regulators acknowledge that bitcoin is here to stay. Another way in which the Twitter hack was positive for bitcoin is the spotlight shone on the forensic transparency of the network. Within hours of the hack, blockchain analysts were alreadyconstructing profilesof the hacker’s history andtracking the movementsof the ill-gotten funds. The wallets in question may not have a name and address associated with them, but they are indelibly there for anyone to monitor, and transactions into and out of these wallets cannot be hidden nor undone. Digital fiat money transfers may have associated names and addresses, but movements are easier to obscure. And names and addresses can be faked. What’s more, the fact that anyone can access this data spreads the potential for useful information coming to light. While there may initially bedifferent interpretationsof the addresses and transfers, a consensus interpretation tends to emerge, which is likely to be a help to law enforcement. And forensic techniques are advancing, as is the diversity of approaches to blockchain data analysis. This should reassure regulators that bitcoin-related crime is not the threat to society some skeptics claim. It is true that having bitcoin in mainstream headlines is good for its “brand recognition” – but, in this case, the association with scams is not in its favor. Yet while politicians do pay attention to what the media is saying, by next week the “bitcoin scam” headlines will have faded into the pixels of time, given the frenetic news cycle we live in. And the market itself does not seem worried – the bitcoin pricebarely budgedin the aftermath of the news. The lasting effect will be a deeper understanding for those willing to ask the right questions, not just about bitcoin’sseizure resistancebut also about how one weak access point left so much power in a bad actor’s hands. That is a third beneficial outcome that should strengthen interest in blockchain applications beyond crypto assets. Growing concern overcentralized vulnerabilitiesincommunication platformsis just the beginning. From there to worrying about vulnerabilities in the centralized financial systems on which our society runs is not that big a step. This week exemplified the seesaw of good news swiftly followed by dampeners. Better-than-expected earnings were offset byforecast downgrades,which seem to be spooking investors.Vaccine optimism,buoyed by positive results from a few laboratories, yet again got tempered byvaccine realism,as even really good candidates could take years before they become widely available. And when it comes to the evolution of the number of COVID-19 cases,positive newsin some areas was offset bydevastating newsin others. The S&P 500 is very close to having clawed back its losses for the year-to-date, and by the time you read this, might well have done so. It is 7% higher than this time last year. I’ve given up wondering what economic outlook it is discounting. Bitcoin has had a lackluster performance so far this month, yet it continues to outperform other major indices and assets on a year-to-date basis. Itslack of volatilityhas traders champing at the bit, however, and the emotional tension of waiting for a breakout, any breakout, could soonstart to impacttrading patterns. Crypto asset fund managerGrayscale Investmentsreleased its Q2 report,which revealed new investment of over $900 million over the quarter, its largest quarterly inflow to date, and 80% more than the previous quarterly high in Q1.TAKEAWAY:While the BTC price has been stagnant of late, it appreciated over 40% in Q2, largely as part of a broader market recovery from post-crash lows, but also perhaps partially because of growing institutional support. We don’t know, however, how much of the inflow is new investment and how much is recycled as qualified investors sell their holding in the marketat a premiumand buy back in at par. (*Grayscale is owned by DCG, also the parent of CoinDesk.) Lex Sokolin, the CMO and Global Fintech Co-Head at Ethereum laboratory ConsenSys,published an analysisof the rumored upcoming listing of crypto exchangeCoinbase. TAKEAWAY:The lack of available data at the current time is one major obstacle for analysts trying to get a feel for what a listing valuation could be, but Lex does an admirable job of scraping information from public sources. Yet even if/when listing documents are filed and more numbers become available, analysts will still have a hard time figuring this one out: what exactlyisCoinbase? Is it an exchange? A bank? A custodian? Crypto data providerCoin Metricshas published areport on stablecoinsthat looks into their explosive growth: It took supply five years to reach $6 billion in March 2012, and only four months since then to double that.TAKEAWAY:The report takes a close look at pegs – not everyone realizes that dollar stablecoins are not always worth $1, and that the difference can exert a material influence on supply as issuers arbitrage profit opportunities. Crypto fund managerArcareviewed its 2020 predictionsfrom January, and updated them for the rest of the year.TAKEAWAY:The ones I found particularly interesting included the growth in non-crypto companies issuing crypto tokens, the rise of non-fungible tokens as an asset group and the growing influence of younger generations (I wrote moreabout this here). Bitcoin minerssent less bitcointo exchanges during the second quarter of 2020 than at any time over the past 12 months.TAKEAWAY:This can be taken as bullish (miners are choosing to hold onto their mined bitcoin because they believe the price will go up) or bearish (they would rather not sell into what they think will be a weak market). Either way, we should remember that newly mined bitcoins now account for a very small fraction of trading volume, so the influence of miners’ decisions is mitigated. Their actions are worth watching, however, as most have close relationships with OTC desks that move high volumes and have their ear to the ground. The number of addresses holding a large number of bitcoins, known as“whale addresses,”has declined to a 14-month low.TAKEAWAY:As with the miner flows metric above, this can also be either bearish or bullish. It’s not positive news for the asset price outlook to see large holders reduce their stakes; but a broader distribution of ownership is better for price resilience. U.S.-based digital asset firmBitOodapublished a report,together with the Fidelity Center for Applied Technology, that shows 50% of bitcoin mining is in China, and 14% in the U.S.TAKEAWAY:Earlier estimates had put China’s market shareat 65%,so if these figures are accurate, the bitcoin mining industry is becoming more decentralized and less dependent on China. Crypto financial appAbrahassettled charges from the SEC and the CFTCrelating to its offering of synthetic swaps to retail investors without registering or selling them on a recognized national exchange. Abra and its Philippines-based partner company Plutus will pay $300,000 in fines and do not have to acknowledge the accusations.TAKEAWAY:This is the long arm of the law in action. Abra limited its offering to non-U.S. investors, and moved most of its operations overseas. But the regulators determined that having an office in San Francisco from which the contracts were marketed and hedged, serving a handful of U.S. retail investors that got through the geofencing, and having marketed to retail investors in the early days of the contract, put Abra in violation of securities laws. In other words, it doesn’t matter where your main base is – if your activity touches U.S. citizens and/or U.S. soil, you fall under U.S. jurisdiction. On a recent panel, Linda Lacewell, superintendent of the New York Department of Financial Services (NYDFS), said that therecent changes totheBitLicenselaw were being well received.TAKEAWAY:The original BitLicense, which emerged just over five years ago as a requirement for any crypto business wanting to operate in the state of New York, received significant criticism for its onerous application obligations and the high cost of compliance. Lacewell introduced some reforms to the regulation that aimed to lower the barriers and encourage more experimentation. It’s not surprising they are being well received, but it is good news to get the confirmation. Many crypto businesses chose to not do business in New York as a result of the original design, and the update does not mean they will come back. But Wall Street is one of the greatest financial centers in the world, and if crypto is going to run with the “big boys,” a presence at the heart of finance will be a step forward in the push to position crypto assets as a respectable investment for institutional portfolios. Bitcoin Core contributor Jeremy Rubin has revealed his work on anew smart-contract language for BitcoincalledSapio,which he hopes will increase the “financial self-sovereignty” of users.TAKEAWAY:It’s worth keeping an eye on technological developments even in assets that, for many, are based on the store-of-value narrative. Enhanced smart contract ability will not only potentially lend application functionalities to Bitcoin, giving it a “residual value” and further likening it to gold (which, as well as an investment asset, is used in jewelry, technology, dentistry, etc.); it could also make it easier and/or safer to custody and exchange. BitGowill offer API support for the latest “Travel Rule”guidelines from the FATFthat stipulate originators and beneficiaries of financial transactions over $1,000 be identified.TAKEAWAY:This was always going to be a difficult proposition with crypto assets, since identification of both ends of a transaction is often not possible, and goes against the integral idea that transfers can be decentralized and independent of a third party. The FATF’s reach is long, however, and non-compliance is likely to be costly for jurisdictions that cannot control crypto activity within their boundaries. Technological aids like BitGo’s API, provided by a firm with a long history of custodial services, are likely to calm fears of both regulators and clients. Plus, BitGo’s origin is as a custody technology provider – in 2013, it launched the first multi-sig wallet, a staple of custody technology today. Also,Shyft Networkthis week announced thatit is releasingits blockchain-based solution to help crypto companies comply with the FATF requirements.TAKEAWAY:Tools like this are trying to get ahead of what is going to be a significant problem: the security vulnerabilities inherent in the FATF’s requirement to send sensitive financial information back and forth. Thecrypto options marketis growing fast,both in volumes and in number of platforms. Gate.io, a relatively small offshore exchange, has launched a new options trading feature, and Singapore-based exchange Huobi, which already offers futures and perpetual swaps, plans to do so later this year.TAKEAWAY:Growth in options is a sign of a maturing market, and a necessary step for greater institutional involvement. How long this growth will continue is an open question, especially given the declining volumes in crypto spot and futures markets. Switzerland-based crypto custodianMetacohasclosed a Series A roundthat was reportedly oversubscribed by a factor of two. Investors include Standard Chartered, smart-card and currency note printer Giesecke+Devrient, Zürcher Kantonalbank (the fourth largest bank in Switzerland), and the country’s postal service Swiss Post.TAKEAWAY:That this was reportedly oversubscribed is a sign of growing interest in Europe in digital asset market infrastructure. Also, the mix and profile of the investors is intriguing. Podcast episodes worth listening to: • Does COVID-19 Have the World Rethinking Dollar Supremacy?– The Breakdown, Nathaniel Whittemore • Why Bitcoin Now: Michael Casey and Niall Ferguson on How Bitcoin Fits in the History of Money– Unchained, Laura Shin • Angrynomics: Why the World is So Angry, with Mark Byth, Eric Lonergan and Linda Yueh– Intelligence Squared • Caitlin Long (Avanti Financial Group) on Bitcoin banks and the Wyoming SPDI– On the Brink, Nic Carter • Lyn Alden: The Road to Inflation– Macro Voices, Erik Townsend • Crypto Long & Short: Why the Twitter Hack Was Good for Bitcoin (and It’s Not the Media Attention) • Crypto Long & Short: Why the Twitter Hack Was Good for Bitcoin (and It’s Not the Media Attention) \|\| The Origins of the Worlds Oldest Bitcoin Metric, Explained: The concept of bitcoin days destroyed (BDD) was introduced in 2011, two years after the creation of the worlds first cryptocurrency, bitcoin . People were already beginning to create blockchain metrics to measure on-chain transaction activity and value. For more episodes and free early access before our regular 3 p.m. Eastern time releases, subscribe with Apple Podcasts , Spotify , Pocketcasts , Google Podcasts , Castbox , Stitcher , RadioPublica , iHeartRadio or RSS . This episode is sponsored by Bitstamp and Crypto.com . Related: Bitcoin News Roundup for July 20, 2020 Once the first cryptocurrency metric was created, BDD was quickly followed by a plethora of other unique metrics including unspent transaction output (UTXO), market value to realized value (MVRV) and spent output profit ratio (SOPR). Despite the sophistication of cryptocurrency data and analysis since 2011, BDD remains a fundamental metric to understanding and valuing bitcoin. See also: Coin Days Destroyed: Giving Meaning to Transaction Volumes [BDD] is a metric that reflects the collective action of long-term [BTC] holders, said CoinDesk senior research analyst Galen Moore on a special podcast episode about the metric. Whats the psychology of the long-term holder? You can see that in a collective way [through BDD] in a way I dont think is possible in other asset categories. Moore interviewed Coin Metrics Lucas Nuzzi on July 7 , to learn more about BDDs use cases and limitations. In a follow-up discussion July 9, Moore noted no other financial asset enables traders and investors to see the activity of long-term asset holders as transparently as bitcoin. Related: Bitcoin Futures Trading Volume Slips to 3-Month Low on CME To this, CoinDesk research intern Duy Nguyen noted the motivations behind why long-term holders are moving funds at any given time is still largely a guessing game that requires further off-chain analysis beyond the scope of BDD. Story continues For more information about BDD, watch the 30-minute webinar featuring Nuzzis exclusive presentation on the metric on the CoinDesk Research Hub. For more episodes and free early access before our regular 3 p.m. Eastern time releases, subscribe with Apple Podcasts , Spotify , Pocketcasts , Google Podcasts , Castbox , Stitcher , RadioPublica , iHeartRadio or RSS . Related Stories The Origins of the Worlds Oldest Bitcoin Metric, Explained The Origins of the Worlds Oldest Bitcoin Metric, Explained \|\| The Origins of the World’s Oldest Bitcoin Metric, Explained: The concept of bitcoin days destroyed (BDD) was introduced in 2011, two years after the creation of the world’s first cryptocurrency,bitcoin. People were already beginning to create blockchain metrics to measure on-chain transaction activity and value. Formore episodesand free early access before our regular 3 p.m. Eastern time releases, subscribe withApple Podcasts,Spotify,Pocketcasts,Google Podcasts,Castbox,Stitcher,RadioPublica,iHeartRadioorRSS. This episode is sponsored byBitstampandCrypto.com. Related:Bitcoin News Roundup for July 20, 2020 Once the first cryptocurrency metric was created, BDD was quickly followed by a plethora of other unique metrics including unspent transaction output (UTXO), market value to realized value (MVRV) and spent output profit ratio (SOPR). Despite the sophistication of cryptocurrency data and analysis since 2011, BDD remains a fundamental metric to understanding and valuing bitcoin. See also:Coin Days Destroyed: Giving Meaning to Transaction Volumes “[BDD] is a metric that reflects the collective action of long-term [BTC] holders,” said CoinDesk senior research analyst Galen Moore on a special podcast episode about the metric. “What’s the psychology of the long-term holder? You can see that in a collective way [through BDD] in a way I don’t think is possible in other asset categories.” Moore interviewed Coin Metrics’ Lucas Nuzzion July 7, to learn more about BDD’s use cases and limitations. In a follow-up discussion July 9, Moore noted no other financial asset enables traders and investors to see the activity of long-term asset holders as transparently as bitcoin. Related:Bitcoin Futures Trading Volume Slips to 3-Month Low on CME To this, CoinDesk research intern Duy Nguyen noted the motivations behind why long-term holders are moving funds at any given time is still largely a guessing game that requires further off-chain analysis beyond the scope of BDD. For more information about BDD, watch the 30-minute webinar featuring Nuzzi’s exclusive presentation on the metricon the CoinDesk Research Hub. Formore episodesand free early access before our regular 3 p.m. Eastern time releases, subscribe withApple Podcasts,Spotify,Pocketcasts,Google Podcasts,Castbox,Stitcher,RadioPublica,iHeartRadioorRSS. • The Origins of the World’s Oldest Bitcoin Metric, Explained • The Origins of the World’s Oldest Bitcoin Metric, Explained \|\| The Origins of the World’s Oldest Bitcoin Metric, Explained: The concept of bitcoin days destroyed (BDD) was introduced in 2011, two years after the creation of the world’s first cryptocurrency,bitcoin. People were already beginning to create blockchain metrics to measure on-chain transaction activity and value. Formore episodesand free early access before our regular 3 p.m. Eastern time releases, subscribe withApple Podcasts,Spotify,Pocketcasts,Google Podcasts,Castbox,Stitcher,RadioPublica,iHeartRadioorRSS. This episode is sponsored byBitstampandCrypto.com. Related:Bitcoin News Roundup for July 20, 2020 Once the first cryptocurrency metric was created, BDD was quickly followed by a plethora of other unique metrics including unspent transaction output (UTXO), market value to realized value (MVRV) and spent output profit ratio (SOPR). Despite the sophistication of cryptocurrency data and analysis since 2011, BDD remains a fundamental metric to understanding and valuing bitcoin. See also:Coin Days Destroyed: Giving Meaning to Transaction Volumes “[BDD] is a metric that reflects the collective action of long-term [BTC] holders,” said CoinDesk senior research analyst Galen Moore on a special podcast episode about the metric. “What’s the psychology of the long-term holder? You can see that in a collective way [through BDD] in a way I don’t think is possible in other asset categories.” Moore interviewed Coin Metrics’ Lucas Nuzzion July 7, to learn more about BDD’s use cases and limitations. In a follow-up discussion July 9, Moore noted no other financial asset enables traders and investors to see the activity of long-term asset holders as transparently as bitcoin. Related:Bitcoin Futures Trading Volume Slips to 3-Month Low on CME To this, CoinDesk research intern Duy Nguyen noted the motivations behind why long-term holders are moving funds at any given time is still largely a guessing game that requires further off-chain analysis beyond the scope of BDD. For more information about BDD, watch the 30-minute webinar featuring Nuzzi’s exclusive presentation on the metricon the CoinDesk Research Hub. Formore episodesand free early access before our regular 3 p.m. Eastern time releases, subscribe withApple Podcasts,Spotify,Pocketcasts,Google Podcasts,Castbox,Stitcher,RadioPublica,iHeartRadioorRSS. • The Origins of the World’s Oldest Bitcoin Metric, Explained • The Origins of the World’s Oldest Bitcoin Metric, Explained \|\| The Crypto Daily – The Movers and Shakers – July 19th, 2020: Bitcoin, BTC to USD, rose by 0.24% on Saturday. Following on from a 0.19% gain on Friday, Bitcoin ended the day at $9,189.1. It was another bearish start to the day. Bitcoin fell to an early morning intraday low $9,120.1 before making a move. Steering clear of the first major support level at $9,114.93, Bitcoin struck a late morning high $9,217.0. Bitcoin broke through the first major resistance level at $9,206.83 before easing back to $9,170 levels. Late in the day, Bitcoin broke back through the first major resistance level to an intraday high $9,217.1 before easing back. Steering clear of the day’s pivot level at $9,155 through the afternoon was key to avoiding a day in the red. The near-term bullish trend remained intact in spite of the early July pullback to sub-$9,000 levels. For the bears, Bitcoin would need to slide through the 62% FIB of $6,400 to form a near-term bearish trend. The Rest of the Pack Across the rest of the majors, it was yet another mixed day on Saturday. EOS (-0.04%), Stellar’s Lumen (-3.04%), and Tezos (-4.87%) saw red to buck the trend on the day. It was a bullish day for the rest of the pack, with Ripple’s XRP rallying by 2.94% to lead the way. Bitcoin Cash ABC (+1.01%), Ethereum (+1.33%), Litecoin (+1.36%), Monero’s XMR (+1.17%), and Tron’s TRX (+1.31%) also found strong support. Binance Coin (+0.59%), Bitcoin Cash SV (+0.64%), and Cardano’s ADA (+0.60%) saw modest gains on the day. In the current week, the crypto total market cap rose to a Monday high $273.18bn before falling to a Thursday low $258.89bn. At the time of writing, the total market cap stood at $266.27bn. Bitcoin’s dominance fell to a Monday low 63.09% before rising to a Thursday high 64.28%. At the time of writing, Bitcoin’s dominance stood at 63.55%. This Morning At the time of writing, Bitcoin was up by 0.06% to $9,194.3. A mixed start to the day saw Bitcoin fall to an early morning low $9,185.7 before striking a high $9,194.4. Story continues Bitcoin left the major support and resistance levels untested early on. Elsewhere, it was a mixed start to the day. At the time of writing, Tezos was up by 1.21% to lead the way. Binance Coin bucked the trend early on, with a 0.24% loss. For the Bitcoin Day Ahead Bitcoin would need to avoid a fall through the $9,175.43 pivot to support a run at the first major resistance level at $9,230.77. Support from the broader market would be needed, however, for Bitcoin to break out from Saturday’s high $9,217.1. Barring an extended crypto rally, the first major resistance level and Saturday’s high would likely cap any upside. In the event of a crypto breakout, Bitcoin should break through the second major resistance level at $9,272.43. Resistance at $9,300 would likely cap any upside. Failure to avoid a fall through the $9,175.43 pivot level would bring the first major support level at $9,133.77 into play. Barring an extended crypto sell-off, however, Bitcoin should avoid sub-$9,000 levels. The second major resistance level at $9,078.43 should limit any downside. This article was originally posted on FX Empire More From FXEMPIRE: The Week Ahead – COVID-19 and Geopolitics and Private Sector PMIs in Focus E-mini Dow Jones Industrial Average (YM) Futures Technical Analysis – Could See Futures/Cash Divergence The Weekly Wrap – Economic Data and COVID-19 News Drives the Markets E-mini NASDAQ-100 Index (NQ) Futures Technical Analysis – Trend Up, Momentum Down on Daily Chart Price of Gold Fundamental Daily Forecast – Sideways to Better as Investors Await More Stimulus Measures European Equities: A Week in Review – 11/07/20 \|\| The Crypto Daily – The Movers and Shakers – July 19th, 2020: Bitcoin, BTC to USD, rose by 0.24% on Saturday. Following on from a 0.19% gain on Friday, Bitcoin ended the day at $9,189.1. It was another bearish start to the day. Bitcoin fell to an early morning intraday low $9,120.1 before making a move. Steering clear of the first major support level at $9,114.93, Bitcoin struck a late morning high $9,217.0. Bitcoin broke through the first major resistance level at $9,206.83 before easing back to $9,170 levels. Late in the day, Bitcoin broke back through the first major resistance level to an intraday high $9,217.1 before easing back. Steering clear of the day’s pivot level at $9,155 through the afternoon was key to avoiding a day in the red. The near-term bullish trend remained intact in spite of the early July pullback to sub-$9,000 levels. For the bears, Bitcoin would need to slide through the 62% FIB of $6,400 to form a near-term bearish trend. Across the rest of the majors, it was yet another mixed day on Saturday. EOS (-0.04%), Stellar’s Lumen (-3.04%), and Tezos (-4.87%) saw red to buck the trend on the day. It was a bullish day for the rest of the pack, with Ripple’s XRP rallying by 2.94% to lead the way. Bitcoin Cash ABC (+1.01%), Ethereum (+1.33%), Litecoin (+1.36%), Monero’s XMR (+1.17%), and Tron’s TRX (+1.31%) also found strong support. Binance Coin (+0.59%), Bitcoin Cash SV (+0.64%), and Cardano’s ADA (+0.60%) saw modest gains on the day. In the current week, the crypto total market cap rose to a Monday high $273.18bn before falling to a Thursday low $258.89bn. At the time of writing, the total market cap stood at $266.27bn. Bitcoin’s dominance fell to a Monday low 63.09% before rising to a Thursday high 64.28%. At the time of writing, Bitcoin’s dominance stood at 63.55%. At the time of writing, Bitcoin was up by 0.06% to $9,194.3. A mixed start to the day saw Bitcoin fall to an early morning low $9,185.7 before striking a high $9,194.4. Bitcoin left the major support and resistance levels untested early on. Elsewhere, it was a mixed start to the day. At the time of writing, Tezos was up by 1.21% to lead the way. Binance Coin bucked the trend early on, with a 0.24% loss. Bitcoin would need to avoid a fall through the $9,175.43 pivot to support a run at the first major resistance level at $9,230.77. Support from the broader market would be needed, however, for Bitcoin to break out from Saturday’s high $9,217.1. Barring an extended crypto rally, the first major resistance level and Saturday’s high would likely cap any upside. In the event of a crypto breakout, Bitcoin should break through the second major resistance level at $9,272.43. Resistance at $9,300 would likely cap any upside. Failure to avoid a fall through the $9,175.43 pivot level would bring the first major support level at $9,133.77 into play. Barring an extended crypto sell-off, however, Bitcoin should avoid sub-$9,000 levels. The second major resistance level at $9,078.43 should limit any downside. Thisarticlewas originally posted on FX Empire • The Week Ahead – COVID-19 and Geopolitics and Private Sector PMIs in Focus • E-mini Dow Jones Industrial Average (YM) Futures Technical Analysis – Could See Futures/Cash Divergence • The Weekly Wrap – Economic Data and COVID-19 News Drives the Markets • E-mini NASDAQ-100 Index (NQ) Futures Technical Analysis – Trend Up, Momentum Down on Daily Chart • Price of Gold Fundamental Daily Forecast – Sideways to Better as Investors Await More Stimulus Measures • European Equities: A Week in Review – 11/07/20 \|\| Social Media Is Democracy’s Faultline: The Breakdown Weekly Recap: From PayPal crypto confirmed to action in central bank digital currencies, these were six themes shaping the week. Formore episodesand free early access before our regular 3 p.m. Eastern time releases, subscribe withApple Podcasts,Spotify,Pocketcasts,Google Podcasts,Castbox,Stitcher,RadioPublica,iHeartRadioorRSS. This episode is sponsored byBitstampandCrypto.com. Related:Bitcoin News Roundup for July 20, 2020 On this edition of the Weekly Recap, NLW explores: • No-volatility bitcoin and DeFi’s big quarter • An uptick in central bank currency action • PayPal crypto confirmation • A China-U.S. rhetoric flare up • Social media as democracy’s fault line • In Fed World, is the narrative trade the only trade? Monday \|The Real Story Behind Tesla’s Crazy Rally Tuesday \|Why Are Execs of Bankrupt Companies Being Rewarded With Millions? Wednesday \|A Primer on the US and China’s ‘New Cold War’ Related:Are Stablecoins Eurodollars 2.0? Long Reads Sunday Thursday \|No, the Twitter Hack Wasn’t About Bitcoin Friday \|What If the Too-Strong Dollar Is a Solved Problem? Feat. Jon Turek Formore episodesand free early access before our regular 3 p.m. Eastern time releases, subscribe withApple Podcasts,Spotify,Pocketcasts,Google Podcasts,Castbox,Stitcher,RadioPublica,iHeartRadioorRSS. • Social Media Is Democracy’s Faultline: The Breakdown Weekly Recap • Social Media Is Democracy’s Faultline: The Breakdown Weekly Recap \|\| Social Media Is Democracys Faultline: The Breakdown Weekly Recap: From PayPal crypto confirmed to action in central bank digital currencies, these were six themes shaping the week. For more episodes and free early access before our regular 3 p.m. Eastern time releases, subscribe with Apple Podcasts , Spotify , Pocketcasts , Google Podcasts , Castbox , Stitcher , RadioPublica , iHeartRadio or RSS . This episode is sponsored by Bitstamp and Crypto.com . Related: Bitcoin News Roundup for July 20, 2020 On this edition of the Weekly Recap, NLW explores: No-volatility bitcoin and DeFis big quarter An uptick in central bank currency action PayPal crypto confirmation A China-U.S. rhetoric flare up Social media as democracys fault line In Fed World, is the narrative trade the only trade? This week on The Breakdown: Monday \| The Real Story Behind Teslas Crazy Rally Tuesday \| Why Are Execs of Bankrupt Companies Being Rewarded With Millions? Wednesday \| A Primer on the US and Chinas New Cold War Related: Are Stablecoins Eurodollars 2.0? Long Reads Sunday Thursday \| No, the Twitter Hack Wasnt About Bitcoin Friday \| What If the Too-Strong Dollar Is a Solved Problem? Feat. Jon Turek For more episodes and free early access before our regular 3 p.m. Eastern time releases, subscribe with Apple Podcasts , Spotify , Pocketcasts , Google Podcasts , Castbox , Stitcher , RadioPublica , iHeartRadio or RSS . Related Stories Social Media Is Democracys Faultline: The Breakdown Weekly Recap Social Media Is Democracys Faultline: The Breakdown Weekly Recap \|\| Novel Charts Dark Side of ICO Mania: The initial coin offering boom of 2017 and 2018 was the closest crypto came to mass adoption. It was a period of market and media exuberance. The Gray Lady, aka the New York Times, perhaps looking to court the new taste-makers and thehilariously wealthy, published think pieces about thecrypto revolutionand theleaders behind it. About 1,000 different token projects raisedover $22 billionover two years, according to CoinDesk Research. To put it in perspective, that’s approximately half the gross domestic product ofTuvalu, the country with the smallest GDP at that time. Unlike the natural resources anddomain namesthis tiny Pacific island nation cashes in on, the majority of token projects turned out to be vaporware. Related:The Novel Legal Strategy Bringing This ICO-Backed ‘Micro-Mobility’ Startup to Court Many petered outunremembered. Some werestraight-upscams. A few becamehousehold names, (for the wrong reasons). Haydn Wilks, a Welsh author, has memorialized the era in his second novel, “$hitcoin,” published this month by Dead Bird Press. It’s a story of grift and determination, about the revolutionary potentials of distributed technology and how fortunes were made and lost in an instant. We caught up with the32-year-old Wilksto discuss his work, his experiences during the ICO boom and the latest in crypto. In the novel, you walk the line between celebrating the potential technological benefits of crypto and also showing how some ICOs were get-rich schemes. Where do you find your own thoughts on the matter: Is crypto revolutionary, or is it a story people are trying to sell? Related:To His Own Surprise, Crypto Volume Pumper's Business Is Still Thriving I think that there are elements of both sides that are true. A lot of the tech was and is truly ground-breaking, cutting-edge stuff. But there were also a lot of ICOs launched purely with the intention of making as much [money] as possible as quickly as possible. And it was often very hard to distinguish between them. OysterPearl is one project that’s mentioned briefly in the novel – that was based on a unique idea that many saw real potential in, using visitors to a website’s computing power for storage as an alternative to serving advertising to generate money for the website. But the founder of Oyster Pearl was completely anonymous and even those working for the project didn’t know his real identity. The guy behind it built a vulnerability into theOyster Pearl smart contractthat allowed him to produce a load of new coins, sell them and disappear into anonymity while the project collapsed. When did you come into crypto or become aware of it? If you’re still following the developments, does anything strike you for its artistic potential? I was aware of Bitcoin for years before I really got into it. I’m not sure of the exact date, but maybe in 2012 or 2013 I tried to get into it, but it was a lot more difficult to get started in those days. I remember trying to download a copy of the blockchain to my PC, thinking that was the only way to set up a Bitcoin wallet! By 2017, you had much more user-friendly ways of buying cryptocurrency with fiat currency. Freelance writing work around the crypto space became more difficult to find as the 2017 hype died away. By 2019, most of the sites I’d worked for had become unprofitable and were no longer commissioning new articles, so I’ve not been keeping up with new developments in the space as closely as I was in the past. But I think the big projects like Ethereum have continued becoming more and more integrated into the tech andfinance mainstreamso I’m sure that there are a lot of interesting new stories to be told. See also:As Museums Go Dark, Crypto Art Finds Its Frame Who do you think are the most interesting real-life characters in crypto today? The crypto scene is full of larger-than-life characters! Some of the most interesting for a variety of different reasons would be Vitalik Buterin, Justin Sun, Craig S. Wright, C.Z. from Binance – the list goes on and on. The stories I found the most interesting were the ones with a lot of human drama to them. The split between Bitcoin Cash and Bitcoin Cash Satoshi’s Vision would make a great movie. Another story I found really fascinating was the rise of Binance and how they had to move around different countries, growing exponentially the whole time, until they could find apermanent base. There’s a huge amount of real-life drama to draw on in this world and I definitely think this won’t be the last work of fiction on the topic. Do you think the cultural experience of the ICO days was different in Europe and the U.S.? Was it a global experience? I mainly saw it from an Asian perspective as I was living in [South] Korea at the time. When I returned to the U.K. during 2017, it seemed like most people were aware of cryptocurrency, but there wasn’t the same appetite to invest in it that I saw in Korea. I was teaching at a university in Korea and students would talk about cryptocurrency in class quite regularly. You would also hear people talking about it everywhere you went, like bars, restaurants and cafes. I think something like50% of Korean twentysomethingswere investing in cryptocurrency, which must have been a much higher percentage than in Europe and the United States. Having said that, some of the most interesting stories came from Europe and the United States. RaiBlocks (laterrebranded as Nano) was the coin I had most success with during the 2017 bull run – I bought it when it was only available on Mercatox and BitGrail and it was just 65 cents a coin. Within about a month, it was at over $30. And then it emerged that BitGrail had lost a huge amount of users tokens – hundreds of millions of dollars worth, depending on when you calculate the loss. And BitGrail was handling all this money while being run by one inexperienced programmer in Italy who hadn’t even registered the exchange as a limited company, leaving him personally liable for all its losses. See also:Discovery Science to Premier Crypto-Funded TV Series About… Dragonchain? Another project that fascinated me wasElixir– they generated quite a lot of hype at a time when almost every coin had big supporters saying what a great investment a project was on sites like Bitcoin Talk and Reddit. But if you visited their website, they hadn’t produced a full-length white paper. All they had was a two-page pamphlet. And the only credentials its founders seemed to have was a degree from the University of Iowa. Future Synergy Coin’s creators in the novel are in no way based on the team behind Elixir, but the fact that two students could create something with that much impact was definitely a big early inspiration for basing the novel on a group of frat bros launching their own ICO. You are one of the first to write a crypto novel. How do you think the crypto phenomenon will fit in with the larger literary or cultural scenes? It took me a long time to write this novel. I was quite frustrated with myself for how long it was taking, as I thought someone would surely beat me to it and get a movie or book on this phenomenon out before I did. I’m kind of pleasantly surprised that this is the first novel to really capture the ICO phenomenon. There’s a huge amount of real-life drama to draw on in this world and I definitely think this won’t be the last work of fiction on the topic. Just as I was getting ready to launch the book, news broke that a movie is being produced based on “Bitcoin Billionaires,” a book about the Winklevoss twins’ involvement in Bitcoin. So I think that we are just starting to scratch the surface when it comes to this topic and there will be a lot more to come. • Novel Charts Dark Side of ICO Mania • Novel Charts Dark Side of ICO Mania \|\| Novel Charts Dark Side of ICO Mania: The initial coin offering boom of 2017 and 2018 was the closest crypto came to mass adoption. It was a period of market and media exuberance. The Gray Lady, aka the New York Times, perhaps looking to court the new taste-makers and the hilariously wealthy , published think pieces about the crypto revolution and the leaders behind it . About 1,000 different token projects raised over $22 billion over two years, according to CoinDesk Research. To put it in perspective, thats approximately half the gross domestic product of Tuvalu , the country with the smallest GDP at that time. Unlike the natural resources and domain names this tiny Pacific island nation cashes in on, the majority of token projects turned out to be vaporware. Related: The Novel Legal Strategy Bringing This ICO-Backed Micro-Mobility Startup to Court Many petered out unremembered . Some were straight-up scams . A few became household names , (for the wrong reasons). Haydn Wilks, a Welsh author, has memorialized the era in his second novel, $hitcoin , published this month by Dead Bird Press. Its a story of grift and determination, about the revolutionary potentials of distributed technology and how fortunes were made and lost in an instant. We caught up with the 32-year-old Wilks to discuss his work, his experiences during the ICO boom and the latest in crypto. In the novel, you walk the line between celebrating the potential technological benefits of crypto and also showing how some ICOs were get-rich schemes. Where do you find your own thoughts on the matter: Is crypto revolutionary, or is it a story people are trying to sell? Related: To His Own Surprise, Crypto Volume Pumper's Business Is Still Thriving I think that there are elements of both sides that are true. A lot of the tech was and is truly ground-breaking, cutting-edge stuff. But there were also a lot of ICOs launched purely with the intention of making as much [money] as possible as quickly as possible. And it was often very hard to distinguish between them. Story continues OysterPearl is one project thats mentioned briefly in the novel that was based on a unique idea that many saw real potential in, using visitors to a websites computing power for storage as an alternative to serving advertising to generate money for the website. But the founder of Oyster Pearl was completely anonymous and even those working for the project didnt know his real identity. The guy behind it built a vulnerability into the Oyster Pearl smart contract that allowed him to produce a load of new coins, sell them and disappear into anonymity while the project collapsed. When did you come into crypto or become aware of it? If youre still following the developments, does anything strike you for its artistic potential? I was aware of Bitcoin for years before I really got into it. Im not sure of the exact date, but maybe in 2012 or 2013 I tried to get into it, but it was a lot more difficult to get started in those days. I remember trying to download a copy of the blockchain to my PC, thinking that was the only way to set up a Bitcoin wallet! By 2017, you had much more user-friendly ways of buying cryptocurrency with fiat currency. Freelance writing work around the crypto space became more difficult to find as the 2017 hype died away. By 2019, most of the sites Id worked for had become unprofitable and were no longer commissioning new articles, so Ive not been keeping up with new developments in the space as closely as I was in the past. But I think the big projects like Ethereum have continued becoming more and more integrated into the tech and finance mainstream so Im sure that there are a lot of interesting new stories to be told. See also: As Museums Go Dark, Crypto Art Finds Its Frame Who do you think are the most interesting real-life characters in crypto today? The crypto scene is full of larger-than-life characters! Some of the most interesting for a variety of different reasons would be Vitalik Buterin, Justin Sun, Craig S. Wright, C.Z. from Binance the list goes on and on. The stories I found the most interesting were the ones with a lot of human drama to them. The split between Bitcoin Cash and Bitcoin Cash Satoshis Vision would make a great movie. Another story I found really fascinating was the rise of Binance and how they had to move around different countries, growing exponentially the whole time, until they could find a permanent base . Theres a huge amount of real-life drama to draw on in this world and I definitely think this wont be the last work of fiction on the topic. Do you think the cultural experience of the ICO days was different in Europe and the U.S.? Was it a global experience? I mainly saw it from an Asian perspective as I was living in [South] Korea at the time. When I returned to the U.K. during 2017, it seemed like most people were aware of cryptocurrency, but there wasnt the same appetite to invest in it that I saw in Korea. I was teaching at a university in Korea and students would talk about cryptocurrency in class quite regularly. You would also hear people talking about it everywhere you went, like bars, restaurants and cafes. I think something like 50% of Korean twentysomethings were investing in cryptocurrency, which must have been a much higher percentage than in Europe and the United States. Having said that, some of the most interesting stories came from Europe and the United States. RaiBlocks (later rebranded as Nano ) was the coin I had most success with during the 2017 bull run I bought it when it was only available on Mercatox and BitGrail and it was just 65 cents a coin. Within about a month, it was at over $30. And then it emerged that BitGrail had lost a huge amount of users tokens hundreds of millions of dollars worth, depending on when you calculate the loss. And BitGrail was handling all this money while being run by one inexperienced programmer in Italy who hadnt even registered the exchange as a limited company, leaving him personally liable for all its losses. See also: Discovery Science to Premier Crypto-Funded TV Series About Dragonchain? Another project that fascinated me was Elixir they generated quite a lot of hype at a time when almost every coin had big supporters saying what a great investment a project was on sites like Bitcoin Talk and Reddit. But if you visited their website, they hadnt produced a full-length white paper. All they had was a two-page pamphlet. And the only credentials its founders seemed to have was a degree from the University of Iowa. Future Synergy Coins creators in the novel are in no way based on the team behind Elixir, but the fact that two students could create something with that much impact was definitely a big early inspiration for basing the novel on a group of frat bros launching their own ICO. You are one of the first to write a crypto novel. How do you think the crypto phenomenon will fit in with the larger literary or cultural scenes? It took me a long time to write this novel. I was quite frustrated with myself for how long it was taking, as I thought someone would surely beat me to it and get a movie or book on this phenomenon out before I did. Im kind of pleasantly surprised that this is the first novel to really capture the ICO phenomenon. Theres a huge amount of real-life drama to draw on in this world and I definitely think this wont be the last work of fiction on the topic. Just as I was getting ready to launch the book, news broke that a movie is being produced based on Bitcoin Billionaires , a book about the Winklevoss twins involvement in Bitcoin. So I think that we are just starting to scratch the surface when it comes to this topic and there will be a lot more to come. Related Stories Novel Charts Dark Side of ICO Mania Novel Charts Dark Side of ICO Mania \|\| High-profile politicians and celebrities targeted in the cyber attack: Photo: Omar Marques/SOPA Images/LightRocket via Getty Images Twitter ( TWTR ) says that 130 accounts were targeted in the cyber attack that took place on Wednesday. Of these, 45 were successfully hacked, while eight unverified users’ information was accessed and downloaded. “In cases where an account was taken over by the attacker, they may have been able to view additional information. Our forensic investigation of these activities is still ongoing,” the company said. It did not give additional details about what that information might be. The hack affected US presidential candidate Joe Biden, reality TV star Kim Kardashian, former US President Barack Obama and Tesla ( TSLA ) tycoon Elon Musk. It used their accounts to solicit digital currency. Others targeted include rapper Kanye West, Amazon’s ( AMZN ) Jeff Bezos, investor Warren Buffett and Microsoft ( MSFT ) founder Bill Gates. Corporate accounts for Uber ( UBER ) and Apple ( AAPL ) were also on that list. Donald Trump was one of the prominent Twitter uses unaffected by this. Public records show the scam earned the fraudsters more than $100,000 (£79,570) in cryptocurrencies such as Bitcoin. Bitcoin is notoriously difficult to trace, and the “wallets” the currency was put into have already been emptied. This money is likely to have been split into smaller amounts through a “mixer” or “tumbler” to make it even harder to trace back to the attackers. Twitter also said the scammers may have tried to sell account names and handles. READ MORE: Why we need to stop food shaming at work The company set out a four-point plan of next-steps following the incident. This included an employee training scheme. The FBI is now investigating, according to reports. We are aware of a security incident impacting accounts on Twitter. We are investigating and taking steps to fix it. We will update everyone shortly. — Twitter Support (@TwitterSupport) July 15, 2020 View comments \|\| High-profile politicians and celebrities targeted in the cyber attack: Photo: Omar Marques/SOPA Images/LightRocket via Getty Images Twitter ( TWTR ) says that 130 accounts were targeted in the cyber attack that took place on Wednesday. Of these, 45 were successfully hacked, while eight unverified users’ information was accessed and downloaded. “In cases where an account was taken over by the attacker, they may have been able to view additional information. Our forensic investigation of these activities is still ongoing,” the company said. It did not give additional details about what that information might be. The hack affected US presidential candidate Joe Biden, reality TV star Kim Kardashian, former US President Barack Obama and Tesla ( TSLA ) tycoon Elon Musk. It used their accounts to solicit digital currency. Others targeted include rapper Kanye West, Amazon’s ( AMZN ) Jeff Bezos, investor Warren Buffett and Microsoft ( MSFT ) founder Bill Gates. Corporate accounts for Uber ( UBER ) and Apple ( AAPL ) were also on that list. Donald Trump was one of the prominent Twitter uses unaffected by this. Public records show the scam earned the fraudsters more than $100,000 (£79,570) in cryptocurrencies such as Bitcoin. Bitcoin is notoriously difficult to trace, and the “wallets” the currency was put into have already been emptied. This money is likely to have been split into smaller amounts through a “mixer” or “tumbler” to make it even harder to trace back to the attackers. Twitter also said the scammers may have tried to sell account names and handles. READ MORE: Why we need to stop food shaming at work The company set out a four-point plan of next-steps following the incident. This included an employee training scheme. The FBI is now investigating, according to reports. We are aware of a security incident impacting accounts on Twitter. We are investigating and taking steps to fix it. We will update everyone shortly. — Twitter Support (@TwitterSupport) July 15, 2020 View comments \|\| Twitter Says Several Employees Were Manipulated By Hackers: (Bloomberg) -- Twitter Inc. said several of its employees were manipulated by hackers into providing credentials for internal systems, and 130 Twitter accounts were targeted including those of Joe Biden, Elon Musk and Jeff Bezos. The hackers were able to reset passwords for 45 users, while eight had their data, including private messages, downloaded entirely, Twitter said in a blog post late Friday. While the hack targeted high-profile users such as Barack Obama and Warren Buffett, Twitter later clarified that data wasn’t downloaded from any verified accounts, without providing identities. The hackers may have also tried to sell the user names of some of the accounts, it said. “There are some details — particularly around remediation — that we are not providing right now to protect the security of the effort,” the company said. “We are continuing our forensic review of all of the accounts to confirm all actions that may have been taken.” Twitter did not say, for instance, whether the hackers read any of the private messages of world leaders while logged into their accounts. The attack on Wednesday involved a widespread scam, using the accounts of cryptocurrency companies, corporate leaders and celebrities to solicit Bitcoin transfers, in exchange for a promise of doubling the money. Twitter is working with authorities including the Federal Bureau of Investigation to identify the hackers and figure out the extent to which users’ data was compromised. For more articles like this, please visit us atbloomberg.com Subscribe nowto stay ahead with the most trusted business news source. ©2020 Bloomberg L.P. \|\| Twitter Says Several Employees Were Manipulated By Hackers: (Bloomberg) -- Twitter Inc. said several of its employees were manipulated by hackers into providing credentials for internal systems, and 130 Twitter accounts were targeted including those of Joe Biden, Elon Musk and Jeff Bezos. The hackers were able to reset passwords for 45 users, while eight had their data, including private messages, downloaded entirely, Twitter said in a blog post late Friday. While the hack targeted high-profile users such as Barack Obama and Warren Buffett, Twitter later clarified that data wasn’t downloaded from any verified accounts, without providing identities. The hackers may have also tried to sell the user names of some of the accounts, it said. “There are some details — particularly around remediation — that we are not providing right now to protect the security of the effort,” the company said. “We are continuing our forensic review of all of the accounts to confirm all actions that may have been taken.” Twitter did not say, for instance, whether the hackers read any of the private messages of world leaders while logged into their accounts. The attack on Wednesday involved a widespread scam, using the accounts of cryptocurrency companies, corporate leaders and celebrities to solicit Bitcoin transfers, in exchange for a promise of doubling the money. Twitter is working with authorities including the Federal Bureau of Investigation to identify the hackers and figure out the extent to which users’ data was compromised. For more articles like this, please visit us at bloomberg.com Subscribe now to stay ahead with the most trusted business news source. ©2020 Bloomberg L.P. \|\| Twitter confirms 'Bitcoin' hackers copied the data of several accounts: Ever sinceWednesday’s “bitcoin scam” hackwhere attackers used Twitter’s internal tools to take over a number of high profile accounts, there’s been speculation about what they were truly after. While tweets from hijacked accounts claimed to seek Bitcoin, the accounts accessed — and any others potentially accessed —could be far more valuable for the non-public information they contain, like linked address books and direct messages. As far as we know, that includes information for people like Joe Biden, Barack Obama, Elon Musk, Bill Gates and Warren Buffett, but those are only the ones we know about. Late Friday night,Twitter confirmedthat its investigation shows attackers exported the data on “up to eight of the accounts involved,” without specifying which ones (in alater tweet, the company indicated that none of the eight were Verified accounts). Of the 130 that it had previously said were targeted, Twitter now says the attackers performed a password reset and were able to access 45 of them, but did not specify why they may not have done so on the the others. Multiple reports, including one on Friday afternoon from theNew York Times, have featured accounts from posters on the “OGUsers” gray market forum where high-profile accounts are sometimes traded. By the accounts of their sources, an unknown person going by the name of “Kirk” claimed to be a Twitter employee and offered takeovers on any account, working at times via middle men, and collecting money via the same address advertised in the tweets. According to some of the customers and middlemen from the incident, they apparently believe Kirk accessed Twitter’s internal Slack channels, and found credentials for its internal admin tools there. Twitter’s own accounting of the incident isn’t any clearer, simply stating “The attackers successfully manipulated a small number of employees and used their credentials to access Twitter’s internal systems, including getting through our two-factor protections.” \|\| Twitter confirms 'Bitcoin' hackers copied the data of several accounts: Ever since Wednesday’s “bitcoin scam” hack where attackers used Twitter’s internal tools to take over a number of high profile accounts, there’s been speculation about what they were truly after. While tweets from hijacked accounts claimed to seek Bitcoin, the accounts accessed — and any others potentially accessed — could be far more valuable for the non-public information they contain , like linked address books and direct messages. As far as we know, that includes information for people like Joe Biden, Barack Obama, Elon Musk, Bill Gates and Warren Buffett, but those are only the ones we know about. Our investigation and cooperation with law enforcement continues, and we remain committed to sharing any updates here. More to come via @TwitterSupport as our investigation continues. — Twitter Support (@TwitterSupport) July 18, 2020 Late Friday night, Twitter confirmed that its investigation shows attackers exported the data on “up to eight of the accounts involved,” without specifying which ones (in a later tweet , the company indicated that none of the eight were Verified accounts). Of the 130 that it had previously said were targeted, Twitter now says the attackers performed a password reset and were able to access 45 of them, but did not specify why they may not have done so on the the others. There is a lot speculation about the identity of these 8 accounts. We will only disclose this to the impacted accounts, however to address some of the speculation: none of the eight were Verified accounts. — Twitter Support (@TwitterSupport) July 18, 2020 Multiple reports, including one on Friday afternoon from the New York Times , have featured accounts from posters on the “OGUsers” gray market forum where high-profile accounts are sometimes traded. By the accounts of their sources, an unknown person going by the name of “Kirk” claimed to be a Twitter employee and offered takeovers on any account, working at times via middle men, and collecting money via the same address advertised in the tweets. According to some of the customers and middlemen from the incident, they apparently believe Kirk accessed Twitter’s internal Slack channels, and found credentials for its internal admin tools there. Twitter’s own accounting of the incident isn’t any clearer, simply stating “The attackers successfully manipulated a small number of employees and used their credentials to access Twitter’s internal systems, including getting through our two-factor protections.” [Social Media Buzz] None available.	9374.89, 9525.36, 9581.07, 9536.89, 9677.11, 9905.17, 10990.87, 10912.82, 11100.47, 11111.21
Given the historical Bitcoin prices from the last 90 days, predict the next 10 daily closing prices. The historical prices are: 6786.02, 6906.92, 6582.36, 6349.90, 6675.35, 6456.58, 6550.16, 6499.27, 6734.82, 6769.94, 6776.55, 6729.74, 6083.69, 6162.48, 6173.23, 6249.18, 6093.67, 6157.13, 5903.44, 6218.30, 6404.00, 6385.82, 6614.18, 6529.59, 6597.55, 6639.14, 6673.50, 6856.93, 6773.88, 6741.75, 6329.95, 6394.71, 6228.81, 6238.05, 6276.12, 6359.64, 6741.75, 7321.04, 7370.78, 7466.86, 7354.13, 7419.29, 7418.49, 7711.11, 8424.27, 8181.39, 7951.58, 8165.01, 8192.15, 8218.46, 8180.48, 7780.44, 7624.91, 7567.15, 7434.39, 7032.85, 7068.48, 6951.80, 6753.12, 6305.80, 6568.23, 6184.71, 6295.73, 6322.69, 6297.57, 6199.71, 6308.52, 6334.73, 6580.63, 6423.76, 6506.07, 6308.53, 6488.76, 6376.71, 6534.88, 6719.96, 6763.19, 6707.26, 6884.64, 7096.28, 7047.16, 6978.23, 7037.58, 7193.25, 7272.72, 7260.06, 7361.66, 6792.83, 6529.17, 6467.07.	[Bitcoin Technical Analysis for 2018-09-07] Volume: 4264680000, RSI (14-day): 40.44, 50-day EMA: 6891.31, 200-day EMA: 7556.10 [Wider Market Context] Gold Price: 1193.60, Gold RSI: 42.66 Oil Price: 67.75, Oil RSI: 46.16 [Recent News (last 7 days)] Battle of the Privacycoins: Why Dash Is Not Really That Private: Based on blockchain technology, most cryptocurrencies have an open and public ledger. While this is required for these systems to work, it comes with a significant downside: Privacy is often quite limited. Government agencies, analytics companies and other interested parties — let’s call them “spies” — have ways to analyze the public blockchains and peer-to-peer networks of cryptocurrencies like Bitcoin, to cluster addresses and tie them to IP addresses or other identifying information. Unsatisfied with Bitcoin’s privacy features, several cryptocurrency projects have, over the years, launched with the specific goal to improve on them. And not without success. Several of these privacycoins are among the most popular cryptocurrencies on the market today. However, as detailed in this month’scover story, Bitcoin’s privacy features have recently seen significant improvements as well and are set to further improve over the next months and years. This miniseries will compare different privacycoins to the privacy offered by Bitcoin. In part one: Dash. Dash (DASH) is among the most popular but also themore controversialcryptocurrencies in the space today. Originally a codebase fork from Litecoin (which is in turn a codebase fork of Bitcoin), Dash was launched by its founder Evan Duffield in January 2014 as Xcoin. The project was quickly rebranded to Darkcoin, seemingly in reference toDark Wallet, a now-defunct, privacy-focused bitcoin wallet project. Darkcoin rebranded a second time in early 2015, to the current name Dash, which stands for "digital cash.” At the time of writing, Dash claims a12th spoton the cryptocurrency market cap lists, down from atop five spotfor some time in early 2017. Much of the controversy surrounding Dash stems from the early days of the project. While the coin was not premined, it was instamined. As the cryptocurrency went live, miners created 2 million coins in a matter of days. Quite a significant amount, with a projected supply currently scheduled for a total of 22 million, and some 8 million coins in circulation today. According to Duffield, himself one of the early miners, the instamine was an accident. But instead of fixing the problem — for example, by changing the protocol rules or relaunching — it was decided that the coin would continue despite the instamine. Since then, Dash has turned into (what it calls) a decentralized autonomous organization, or DAO, and prides itself on being the first successful example of such an organization. The DAO centers around Dash “masternodes” — DASH nodes that stake (proof of ownership) at least 1000 DASH — and should help the network in certain ways, for instance by confirming “instant transactions.” In return, these masternodes receive 45 percent of newly generated DASH. Another 10 percent of every block reward is reserved for the Dash treasury. What happens with these funds is decided by the masternodes by vote. In practice, this money funds theDash Core Group, effectively the company behind Dash, today headed by CEO Ryan Taylor. Additionally, this part of the block reward funds various forms of promotion of Dash but also some external projects, including Arizona State University's Blockchain Research Laboratory, a legal cannabis industry payments platform, and several initiatives in emerging markets. While once specifically marketed as a privacycoin, in recent years Dash did shift the focus of its pitch. Although privacy is still prominently featured on theDash websiteand promotional material, it also emphasizes ease of use and low costs, apparently geared toward mainstream adoption. As a particularly notable deviation from its privacy-focused past, Dash even established apartnershipwith blockchain analytics company Coinfirm. While details about this partnership and the implications of it remain somewhat unclear, it’s not hard to see how this partnership is an odd fit for a coin previously known as Darkcoin. Which brings us to these privacy features. Dash actually offers one particular privacy feature, called Private Send. The Private Send feature is conveniently offered in a drop-down menu of the Dash Core full node client and in other Dash wallets. Private Send is really an implementation of CoinJoin, the privacy solution first proposed for Bitcoin byBitcoin Coredeveloper Gregory Maxwell. In Private Send, three users add their coins together in one big transaction, that sends the coins to freshly generated addresses belonging to the same three users. As such, the coins are effectively mixed between the three participants, breaking the blockchain trail of ownership between them. This process can be automatically repeated up to eight times, with (hopefully) different mixing participants, for extra privacy. Like any CoinJoin solution, Private Send does require someone to construct the CoinJoin transaction. This is done using Dash’s masternode system. Dash users that wish to mix their coins contact a random masternode, which then collects the coins from the different users, and mashes them together in the CoinJoin transaction. It’s important to note that the masternode cannot steal the coins. However, it does mean that Dash users must trust the masternodes with their privacy. After all, the mixing masternodes can link the sending and receiving addresses together; they know exactly which coins are going where. If these masternodes are run by spies or share their information with spies (on purpose or by accident), the Dash users gain less than nothing: They don’t have privacy, while revealing that they would have liked to have privacy. Granted, if a Dash user mixes his coins more than once, the odds should decrease that all mixing masternodes leak this information. However, to optimize uptime (and collect block rewards), many masternodesappearto be run from virtual private servers that could be compromised relatively easily in one go, for example by government-sponsored spies. Further, many masternodes could be controlled by the same people (keep in mind that some 25 percent of all coins were mined in the first week), which means switching between them might not even help that much. It’s also worth noting that Private Send does require users to take the specific step of mixing, which in turn requires time, effort and comes with a (modest) fee. As such, only users who care about privacy are likely to partake in the mixing process; users who feel they have nothing to hide will not. This has the potential downside that mixing itself could be considered suspect. And while the trail of ownership is broken on the blockchain, the history of mixing is still visible. But perhaps most importantly, CoinJoin is not really unique. The technology was not only first proposed on Bitcoin, it is also available on Bitcoin. The most notable and powerful CoinJoin solution available today is Chaumian CoinJoin, which is embedded in the ZeroLink framework, which is, in turn, implemented in the Wasabi Wallet as well as the Bob Wallet and announced for Samourai Wallet. Similar to Private Send, ZeroLink lets users add their coins together in one big transaction, which sends all these coins to freshly generated addresses belonging to the same users. But importantly, and unlike Private Send, the mixer is in this case unable to link the sending and receiving addresses. Clever cryptography helps break the link, without needing to trust anyone. While Dash does, with its GUI-interface, offer a more user-friendly CoinJoin solution at this point time, the privacy guarantees are weaker than on Bitcoin — never mind serious contenders like Monero or Zcash. Needless to say, for a cryptocurrency that is, or at least was, promoted as a privacycoin, this is quite disappointing. Or as Maxwell — whose very own CoinJoin invention is used for Private Send — once described Dash’s privacy features:LOL. This article originally appeared onBitcoin Magazine. \|\| Abra Supports SEPA Bank Transfers, Enabling Crypto Purchases With Fiat: Abra, the all-in-one digital wallet and cryptocurrency exchange,has announced its supportfor Single Euro Payment Area (SEPA) bank accounts. European users can now enable direct wire transfers from European banks to purchase any of Abra’s 28 available cryptocurrencies. Founded in 2014, Abra is working toward providing users with maximum privacy and control. The application is non-custodial, and the wallet’s private keys arenever held by anyone otherthan the actual user. Abra employs no middlemen, ensuring customer funds are never touched, managed or viewed by outside parties. Past and present investors in Abra include American Express Ventures, First Round Capital, Arbor Ventures and RRE Ventures. Bill Barhydt is the founder and CEO of Abra. Speaking withBitcoin Magazine, he explains, “Abra’s new European bank transfers will be available to people living in 34 countries if they have a SEPA-supported bank account. We get asked all the time by our users in Europe to try and find ways to make investing in cryptocurrencies easier.” Abra wallets were initially funded using wire and bank transfers in the U.S. Customers could also purchase crypto using both credit or debit cards. The platform’s integration of SEPA will give several European Union nations the chance to deposit either national fiat currencies or euros into their Abra wallets to invest in cryptocurrencies. Among the countries now privy to this service are Poland, Romania, Cyprus, Austria, Germany and Italy. Abra’s recent partnership with Coinify — a secure platform for buying and selling bitcoin — is what helps to connect SEPA bank accounts with the Abra app. Once users have deposited funds into their Abra wallets, Coinify transfers the money into BTC based on present exchange rates. Users can then use their bitcoins to purchase any of Abra’s other cryptocurrency offerings. Furthermore, Abra says it isadding three more cryptocurrenciesto its trading system: Cardano (ADA), Basic Attention Token (BAT) and Tron (TRX). Abra also allows users to hold and trade bitcoin, ether, ethereum classic, bitcoin cash, dash and dogecoin among others. Barhydt states, “We are constantly looking for new ways to help make investing in cryptocurrency more simple and secure. By adding bank deposit support in Europe, we enable millions of people who are just entering crypto [to] gain exposure to this new asset class. We are also working on adding funding support to more countries across the globe. We have a lot of big plans in the next few months that are aimed at reducing some of the barriers to entry for cryptocurrency investors. In addition to that, we are constantly vetting more cryptocurrencies to add to the app.” This article originally appeared onBitcoin Magazine. \|\| Abra Supports SEPA Bank Transfers, Enabling Crypto Purchases With Fiat: Abra Supports SEPA Bank Transfers, Enabling Crypto Purchases With Fiat Abra, the all-in-one digital wallet and cryptocurrency exchange, has announced its support for Single Euro Payment Area (SEPA) bank accounts. European users can now enable direct wire transfers from European banks to purchase any of Abra’s 28 available cryptocurrencies. Founded in 2014, Abra is working toward providing users with maximum privacy and control. The application is non-custodial, and the wallet’s private keys are never held by anyone other than the actual user. Abra employs no middlemen, ensuring customer funds are never touched, managed or viewed by outside parties. Past and present investors in Abra include American Express Ventures, First Round Capital, Arbor Ventures and RRE Ventures. Bill Barhydt is the founder and CEO of Abra. Speaking with Bitcoin Magazine , he explains, “Abra’s new European bank transfers will be available to people living in 34 countries if they have a SEPA-supported bank account. We get asked all the time by our users in Europe to try and find ways to make investing in cryptocurrencies easier.” Abra wallets were initially funded using wire and bank transfers in the U.S. Customers could also purchase crypto using both credit or debit cards. The platform’s integration of SEPA will give several European Union nations the chance to deposit either national fiat currencies or euros into their Abra wallets to invest in cryptocurrencies. Among the countries now privy to this service are Poland, Romania, Cyprus, Austria, Germany and Italy. Abra’s recent partnership with Coinify — a secure platform for buying and selling bitcoin — is what helps to connect SEPA bank accounts with the Abra app. Once users have deposited funds into their Abra wallets, Coinify transfers the money into BTC based on present exchange rates. Users can then use their bitcoins to purchase any of Abra’s other cryptocurrency offerings. Furthermore, Abra says it is adding three more cryptocurrencies to its trading system: Cardano (ADA), Basic Attention Token (BAT) and Tron (TRX). Abra also allows users to hold and trade bitcoin, ether, ethereum classic, bitcoin cash, dash and dogecoin among others. Barhydt states, “We are constantly looking for new ways to help make investing in cryptocurrency more simple and secure. By adding bank deposit support in Europe, we enable millions of people who are just entering crypto [to] gain exposure to this new asset class. We are also working on adding funding support to more countries across the globe. We have a lot of big plans in the next few months that are aimed at reducing some of the barriers to entry for cryptocurrency investors. In addition to that, we are constantly vetting more cryptocurrencies to add to the app.” This article originally appeared on Bitcoin Magazine . \|\| Plus500 founders cash in £145m after selling shares for 'personal reasons': Plus500 stepped up to Londons main market earlier this year after the Bitcoin boom helped it almost quadruple its market valuation in one year. - Getty Plus500's founders have sold £145m worth of shares in the business weeks after warning that the trading platform's record run was coming to an end. Five of the businessmen who set up the Israel-based firm a decade ago have decided to halve their stake in the company "in response to significant demand from a small number of institutional investors". The company told investors on Thursday that the founders also chose to sell 9.4m of their shares because of "their desire to diversify their investments whilst raising funds for personal reasons". The move means that the group's founders, Alon Gonen, Gal Haber, Elad Ben-Izhak, Omer Elazari and Shlomi Weizmann, now own around 8pc in the group. The shares were sold at £15.50 each. The frenzy around Bitcoin has driven Plus500's recent success The London-listed business, which lets people bet on swings in price movements without owning the underlying asset through so-called contracts for difference (CfD) trading, has enjoyed huge success over the last year but last month warned that the " exceptional" performance is unlikely to be repeated . Market volatility and the frenzy around digital currencies such as Bitcoin has led it sign up swarms of new customers hoping to get rich quick, leading it to almost quadruple its market valuation in just 12 months and graduate to London's main market. However new rules aimed at protecting inexperienced punters from losing too much money on CfD trading came into effect last month. Plus500 chief Asaf Elimelech said the reduction in leverage ratios, one part of the new rules, could impact the business. View comments \|\| Plus500 founders cash in £145m after selling shares for 'personal reasons': Plus500's founders have sold £145m worth of shares in the business weeks after warning that the trading platform's record run was coming to an end. Five of the businessmen who set up the Israel-based firm a decade ago have decided to halve their stake in the company "in response to significant demand from a small number of institutional investors". The company told investors on Thursday that the founders also chose to sell 9.4m of their shares because of "their desire to diversify their investments whilst raising funds for personal reasons". The move means that the group's founders, Alon Gonen, Gal Haber, Elad Ben-Izhak, Omer Elazari and Shlomi Weizmann, now own around 8pc in the group. The shares were sold at £15.50 each. The London-listed business, whichlets people bet on swings in price movements without owning the underlying assetthrough so-called contracts for difference (CfD) trading, has enjoyed huge success over the last year but last month warned that the "exceptional" performance is unlikely to be repeated. Market volatility and the frenzy around digital currencies such as Bitcoin has led it sign up swarms of new customers hoping to get rich quick, leading it toalmost quadruple its market valuationin just 12 months and graduate to London's main market. However new rules aimed at protecting inexperienced punters from losing too much money on CfD trading came into effect last month. Plus500 chief Asaf Elimelech said the reduction in leverage ratios, one part of the new rules, could impact the business. \|\| Houston Rockets Billionaire Owner Accepts Bitcoin at Luxury Car Dealership: A luxury car retailer based in Houston, Texas, has become the first Bentley, Bugatti and Rolls-Royce (but not Lamborghini) dealership in the United States to adopt cryptocurrency as means of payment. Post Oak Motor Cars, which is owned by Houston Rockets billionaire, Tilman Fertitta, will now accept bitcoin and bitcoin cash thereby breaking new ground in a segment that caters to athletes, celebrities and other elite clients. Exciting news! My Post Oak Motor Cars at @PostOakUptown is the first @RollsRoyce , @BentleyMotors and @Bugatti dealership in America to accept @Bitcoin and Bitcoin Cash for payments. #bitcoin #BitcoinCash #luxurycars pic.twitter.com/AXPIcsx7up Tilman Fertitta (@TilmanJFertitta) September 5, 2018 According to Fertitta, the decision to accept crypto is aimed at enhancing the experiences of customers. The rising of bitcoin sparked my interest. Being a premier luxury car dealer, I always want to offer my customers the very best buying experience and this partnership will allow anyone around the world to purchase our vehicles faster and easier, Fertitta, said in a statement . Partnering With Payments Processor Bitcoin payments at Post Oak Motor Cars will be processed by Bitpay , whose chief commercial officer, Sonny Singh, has said most buyers prefer making big purchases using the largest cryptocurrency by market capitalization because it is convenient. Story continues Meet the first Bentley, Rolls-Royce, and Bugatti dealership to accept #Bitcoin and #BitcoinCash : https://t.co/X0zBiPXylW BitPay (@BitPay) September 5, 2018 Fertitta, who acquired the NBA team Houston Rockets last year at a price of US$2.2 billion, has been a vocal proponent of bitcoin. At the beginning of the year, for instance, the billionaire who also hosts the Billion Dollar Buyer reality television show on CNBC declared that bitcoin would become a permanent feature as he predicted that his businesses spread across various sectors would start accepting cryptocurrencies as means of payment. Insurance, the Missing Ingredient? At the time as CCN reported Fertitta argued that the flagship cryptocurrency needed to be insured by the U.S. Federal Deposit Insurance Corporation in order to increase adoption. Go to the bank and try to withdraw a million dollars, they dont have the money. Its just paper. Thats all bitcoin is, is paper, but its not insured by the FDIC today. And until its insured, a lot of people are never going to buy it, Fertitta was quoted as saying in a television interview. Additionally, Fertitta likened the current state of cryptocurrencies to the early days of the internet. He, however, disputed claims that bitcoin would end up just like some internet firms which disappeared once the dotcom bubble burst. A Lone Star State Thing? Fertitta is not the first owner of an NBA team to gravitate towards cryptocurrencies. Earlier this year, Mark Cuban , the owner of Dallas Mavericks which is based in the state of Texas just like the Houston Rockets, indicated that the basketball team would start accepting bitcoin for the purchase of tickets during the 2018-2019 season which kicks off on October 16. Bugatti Chiron image from Shutterstock. The post Houston Rockets Billionaire Owner Accepts Bitcoin at Luxury Car Dealership appeared first on CCN . \|\| Houston Rockets’ Billionaire Owner Accepts Bitcoin at Luxury Car Dealership: A luxury car retailer based in Houston, Texas, has become the first Bentley, Bugatti and Rolls-Royce (but not Lamborghini) dealership in the United States to adopt cryptocurrency as means of payment. Post Oak Motor Cars, which is owned by Houston Rockets billionaire, Tilman Fertitta, will now acceptbitcoinand bitcoin cash thereby breaking new ground in a segment that caters to athletes, celebrities and other elite clients. According to Fertitta, the decision to accept crypto is aimed at enhancing the experiences of customers. “The rising of bitcoin sparked my interest. Being a premier luxury car dealer, I always want to offer my customers the very best buying experience and this partnership will allow anyone around the world to purchase our vehicles faster and easier,” Fertitta, said in astatement. Bitcoin payments at Post Oak Motor Cars will be processed byBitpay, whose chief commercial officer, Sonny Singh, has said most buyers prefer making big purchases using the largest cryptocurrency by market capitalization because it is convenient. Fertitta, who acquired the NBA team Houston Rockets last year at a price of US$2.2 billion, has been a vocal proponent of bitcoin. At the beginning of the year, for instance, the billionaire who also hosts theBillion Dollar Buyerreality television show on CNBC declared that bitcoin would become a permanent feature as he predicted that his businesses spread across various sectors would start accepting cryptocurrencies as means of payment. At the time as CCN reported Fertitta argued that theflagship cryptocurrency needed to be insuredby the U.S. Federal Deposit Insurance Corporation in order to increase adoption. “Go to the bank and try to withdraw a million dollars, they don’t have the money. It’s just paper. That’s all bitcoin is, is paper, but it’s not insured by the FDIC today. And until it’s insured, a lot of people are never going to buy it,” Fertitta was quoted as saying in a television interview. Additionally, Fertitta likened the current state of cryptocurrencies to the early days of the internet. He, however, disputed claims that bitcoin would end up just like some internet firms which disappeared once the dotcom bubble burst. Fertitta is not the first owner of an NBA team to gravitate towards cryptocurrencies. Earlier this year,Mark Cuban, the owner of Dallas Mavericks which is based in the state of Texas just like the Houston Rockets, indicated that the basketball team would startaccepting bitcoin for the purchase of ticketsduring the 2018-2019 season which kicks off on October 16. Bugatti Chiron image from Shutterstock. The postHouston Rockets’ Billionaire Owner Accepts Bitcoin at Luxury Car Dealershipappeared first onCCN. \|\| Houston Rockets’ Billionaire Owner Accepts Bitcoin at Luxury Car Dealership: A luxury car retailer based in Houston, Texas, has become the first Bentley, Bugatti and Rolls-Royce (but not Lamborghini) dealership in the United States to adopt cryptocurrency as means of payment. Post Oak Motor Cars, which is owned by Houston Rockets billionaire, Tilman Fertitta, will now acceptbitcoinand bitcoin cash thereby breaking new ground in a segment that caters to athletes, celebrities and other elite clients. According to Fertitta, the decision to accept crypto is aimed at enhancing the experiences of customers. “The rising of bitcoin sparked my interest. Being a premier luxury car dealer, I always want to offer my customers the very best buying experience and this partnership will allow anyone around the world to purchase our vehicles faster and easier,” Fertitta, said in astatement. Bitcoin payments at Post Oak Motor Cars will be processed byBitpay, whose chief commercial officer, Sonny Singh, has said most buyers prefer making big purchases using the largest cryptocurrency by market capitalization because it is convenient. Fertitta, who acquired the NBA team Houston Rockets last year at a price of US$2.2 billion, has been a vocal proponent of bitcoin. At the beginning of the year, for instance, the billionaire who also hosts theBillion Dollar Buyerreality television show on CNBC declared that bitcoin would become a permanent feature as he predicted that his businesses spread across various sectors would start accepting cryptocurrencies as means of payment. At the time as CCN reported Fertitta argued that theflagship cryptocurrency needed to be insuredby the U.S. Federal Deposit Insurance Corporation in order to increase adoption. “Go to the bank and try to withdraw a million dollars, they don’t have the money. It’s just paper. That’s all bitcoin is, is paper, but it’s not insured by the FDIC today. And until it’s insured, a lot of people are never going to buy it,” Fertitta was quoted as saying in a television interview. Additionally, Fertitta likened the current state of cryptocurrencies to the early days of the internet. He, however, disputed claims that bitcoin would end up just like some internet firms which disappeared once the dotcom bubble burst. Fertitta is not the first owner of an NBA team to gravitate towards cryptocurrencies. Earlier this year,Mark Cuban, the owner of Dallas Mavericks which is based in the state of Texas just like the Houston Rockets, indicated that the basketball team would startaccepting bitcoin for the purchase of ticketsduring the 2018-2019 season which kicks off on October 16. Bugatti Chiron image from Shutterstock. The postHouston Rockets’ Billionaire Owner Accepts Bitcoin at Luxury Car Dealershipappeared first onCCN. \|\| Widespread adoption of Ethereum cryptocurrency still a dream: (Business Insider) The relevance of Ethereum today varies, depending on who you ask. Even the cryptocurrencys eight co-founders cant agree on how exactly it needs to evolve. Whats better between centralization versus decentralization networks? How should authentication be developed and secured? What innovation needs to take place? Co-founder Anthony Di Iorio says he believes its far from dead in the water. Ethereum is not a company, its one of many technologies out there and it has a lot of competition. Its the second leading technology right now and it has the most community around it, Di Iorio told Yahoo Canada Finance during the Blockchain Futurist Conference . Di Iorio is the founder and CEO of Decentral , an innovation hub for disruptive and decentralized technologies. A Toronto-native, Di Iorio helped start the Toronto Bitcoin Meetup back in 2012. It was here where he met Ethereum creator, Russian-Canadian coder Vitalik Buterin. Di Iorio used funds he had accumulated from prior business dealings and funded the Ethereum project. Di Iorio is an investor in numerous crypto assets including ZCash and Qtum , too. When asked if he worries about the value fluctuation seen in the cryptocurrency space, Di Iorio calmly says he doesnt let it stress him. Like any market there will inevitably be highs and lows, and he takes the good with the bad. A years worth of ups and downs for Bitcoin, Ethereum, Ripple and Litecoin (compared here to the U.S. dollar). (Yahoo Canada Finance) Last December you got people that were riding that wave [referring to the record breaking trade value of Bitcoin], and it really just comes down to value creation, says Di Iorio. Theres very little value thats come out of these things yet, a lot due to limitations of the technology. Theyre testing stuff right now and its going to take a lot of time for the value and the disruption of all these different sectors that will eventually come out, but its just not there yet. A lot of it is speculation. I dont stress about it though. Some people probably do. Some people will get out of the space quick because its not what they were expecting, but I dont stress about it, he says. Story continues Playing the long game At its peak in late 2017, one bitcoin (BTC) was worth just under US$20,000. A year prior it was trading below US$1,000. Bitcoin reached US$6,000 in June, over $8,000 in July and dropped back down to $6,000 in August. It is currently holding around $7,000. At the time of publishing, one bitcoin is worth US$7,280.70. As for Ethereum, one Ether ( ETH ), the networks native token, currently sits at $224.59. Both Bitcoin and Etherum are highly volatile. Im invested in a lot, not just in the crypto space, and one of the reasons it that Ethereum could fail, says Di Iorio. I take more of a holistic approach to the entire ecosystem and I support many different projects. My goal has always been to power people with tools, and I think there is going to be a paradigm shift down the road from third party controlled lives to user controlled lives. We [at Decentral] create the tools that are already starting that. Di Iorio says he doesnt see the mass adoption of these blockchain technologies happening right away. His focus is on finding a way to make things easier to adopt encourage the understanding of blockchain while accepting the ups and downs of cryptocurrencies. The experience is not there for the masses, for the general public to understand, and my goal is to simplify it and put it into an interface that people can easily use to move and mange different coins and different parts of their digital lives, explains Di Iorio. He points to other areas as well that could soon be running on blockchain technologies. Ethereum and Bitcoin were just first to make noise. This technology could be used for other areas like digital wills where you could automatically disperse the money through smart contracts and pay your siblings, or whatever is stipulated, without needing to meet with a lawyer. Thats all going to be done from a wallet, he says. Part of Ethereums success is marked by the appearance of direct competitors. Cardano ( ADA ), led by fellow Ethereum co-founder Charles Hoskinson, uses a system that is arguably faster and more secure and centralized than Ethereum. It uses a Proof of Stake (PoS). Four years ago, Hoskinson, as part of the Ethereum team, was interested in accepting venture capital and creating a for-profit entity with a more formal governing structure, according to Forbes. Vitalik Buterin was firm on his stance to keep Ethereum a nonprofit organization with an open source, decentralized governance. Hoskinson left the Ethereum organization in 2014. For the most part, Buterin has been absent from the Ethereum discussion. He did make an appearance on Reddit to address the inevitable collapse of ETH , but has remained out of the public discourse, including the recent Blockchain Futurist Conference attended by his co-creators. Buterin did say online that he believes Ethereum needs to evolve and noted the Ethereum community is considering two proposals to hep put ETH in a better position. Like Ethereum co-founders and supporters suggest, the key to this industry is collaboration and its hoped with more layers built, Ethereums relevance, expansion and use will be more widespread. According to another Ethereum co-founder, Joseph Lubin, this new stage is already underway. Weve got a bunch of layer two solutions which will enable us to do hundreds of thousands of transactions per second that are fully secured by layer one Ethereum, Lubin says in the clip. Its an ecosystem thats growing exponentially and there isnt a better solution in sight. But is it safe? 2018 hasnt been the best year for cryptocurrency in terms of security. According to findings from Crypto Aware, the first half of 2018 reported a loss of over US$1.73 billion in stolen assets . In June, $32 million worth of cryptocoins were stolen from South Koreas cryptocurrency exchange, Cointhumb , the worlds six largest exchange. Earlier in February, reports of over 30,000 coding bugs were found in Ethereums smart contracts , leaving millions in cryptocurrency vulnerable to theft. And lets not forget about the exit scams too, which according to The Next Web , have conned nearly $100 million in cryptocurrency. It also doesnt help instill much reassurance when famous former stockbroker Jordan Befort, who served a four-year prison sentence after being convicted in a penny stock boiler room operation, is warning the public of scams in the crypto space. Bitcoin itself is not a scam, I dont think, he told CNBC in an interview. He went on to say that its a dark market and that people dive into that and use it to rip others off. Its not that bitcoins a scam but its nature allows scams to occur, he argued. Still, there are firms like JP Morgan that have already shown interest in the space, the company appointed a head of Crypto-Assets Strategy this past May. JP Morgan is also part of the Enterprise Ethereum Alliance (EEA), which consists of over 85 firms and companies such as Deloitte, Ernst and Young (EY), Intel and Microsoft. Reddits co-founder Alexis Ohanian says hes betting on bitcoin despite its volatility , while Google announced recently it will be sharing big data about the Ethereum blockchain, available for exploration via BigQuery. Ethereum also has smart contracts, which lends more capabilities on the blockchain, and for many provides more trust and scalability. You can read Googles full blog post here . Were at this moment where its very industrial, very techy, very infrastructure-based and we still have a lot work to do to build scale and great resiliency in these systems that were taking about, says Matthew Roszak, CEO of Bloq , a blockchain technology company. Its got to be happening in real time before your brother, neighbour or hairdresser doesnt even know theyre running on blockchain-based systems. Download the Yahoo Finance app, available for Apple and Android . \|\| Ethereum's future depends on comprehension and community support: The relevance of Ethereum today varies, depending on who you ask. Even the cryptocurrency’s eight co-founders can’t agree on how exactly it needs to evolve. What’s better between centralization versus decentralization networks? How should authentication be developed and secured? What innovation needs to take place? Co-founder Anthony Di Iorio says he believes it’s far from dead in the water. “Ethereum is not a company, it’s one of many technologies out there and it has a lot of competition. It’s the second leading technology right now and it has the most community around it,” Di Iorio toldYahoo Canada Financeduring theBlockchain Futurist Conference. Di Iorio is the founder and CEO ofDecentral, an innovation hub for disruptive and decentralized technologies. A Toronto-native, Di Iorio helped start the Toronto Bitcoin Meetup back in 2012. It was here where he met Ethereum creator, Russian-Canadian coder Vitalik Buterin. Di Iorio used funds he had accumulated from prior business dealings and funded the Ethereum project. Di Iorio is an investor in numerous crypto assets includingZCashandQtum, too. When asked if he worries about the value fluctuation seen in the cryptocurrency space, Di Iorio calmly says he doesn’t let it stress him. Like any market there will inevitably be highs and lows, and he takes “the good with the bad.” “Last December you got people that were riding that wave [referring to the record breaking trade value of Bitcoin], and it really just comes down to value creation,” says Di Iorio. “There’s very little value that’s come out of these things yet, a lot due to limitations of the technology. They’re testing stuff right now and it’s going to take a lot of time for the value and the disruption of all these different sectors that will eventually come out, but it’s just not there yet. A lot of it is speculation. “I don’t stress about it though. Some people probably do. Some people will get out of the space quick because it’s not what they were expecting, but I don’t stress about it,” he says. Playing the long game At its peak in late 2017, one bitcoin (BTC) was worth just under US$20,000. A year prior it was trading below US$1,000. Bitcoin reached US$6,000 in June, over $8,000 in July and dropped back down to $6,000 in August. It is currently holding around $7,000. At the time of publishing, one bitcoin is worth US$7,280.70. As for Ethereum, one Ether (ETH), the network’s native token, currently sits at $224.59. Both Bitcoin and Etherum are highly volatile. “I’m invested in a lot, not just in the crypto space, and one of the reasons it that Ethereum could fail,” says Di Iorio. “I take more of a holistic approach to the entire ecosystem and I support many different projects. My goal has always been to power people with tools, and I think there is going to be a paradigm shift down the road from third party controlled lives to user controlled lives. We [at Decentral] create the tools that are already starting that.” Di Iorio says he doesn’t see the mass adoption of these blockchain technologies happening right away. His focus is on finding a way to make things easier to adopt encourage the understanding of blockchain while accepting the ups and downs of cryptocurrencies. “The experience is not there for the masses, for the general public to understand, and my goal is to simplify it and put it into an interface that people can easily use to move and mange different coins and different parts of their digital lives,” explains Di Iorio. He points to other areas as well that could soon be running on blockchain technologies. Ethereum and Bitcoin were just first to make noise. “This technology could be used for other areas like digital wills where you could automatically disperse the money through smart contracts and pay your siblings, or whatever is stipulated, without needing to meet with a lawyer. That’s all going to be done from a wallet,” he says. Part of Ethereum’s success is marked by the appearance of direct competitors.Cardano(ADA), led by fellow Ethereum co-founder Charles Hoskinson, uses a system that is arguably faster and more secure and centralized than Ethereum. It uses a Proof of Stake (PoS). Four years ago, Hoskinson, as part of the Ethereum team, was interested in accepting venture capital and creating a “for-profit entity with a more formal governing structure,” according toForbes.Vitalik Buterin was firm on his stance to keep Ethereum a “nonprofit organization with an open source, decentralized governance.” Hoskinson left the Ethereum organization in 2014. For the most part, Buterin has been absent from the Ethereum discussion. He did make an appearance on Reddit to address the “inevitable collapse of ETH,” but has remained out of the public discourse, including the recent Blockchain Futurist Conference attended by his co-creators. Buterin did say online that he believes Ethereum needs to evolve andnotedthe Ethereum community is considering two proposals to hep put ETH in a better position. Like Ethereum co-founders and supporters suggest, the key to this industry is collaboration and it’s hoped with more layers built, Ethereum’s relevance, expansion and use will be more widespread. According to another Ethereum co-founder, Joseph Lubin, this new stage is already underway. “We’ve got a bunch of layer two solutions which will enable us to do hundreds of thousands of transactions per second that are fully secured by layer one Ethereum,” Lubin says in the clip. “It’s an ecosystem that’s growing exponentially and there isn’t a better solution in sight.” But is it safe? 2018 hasn’t been the best year for cryptocurrency in terms of security. According to findings from Crypto Aware, the first half of 2018reported a loss of over US$1.73 billion in stolen assets. In June, $32 million worth of cryptocoins werestolen from South Korea’s cryptocurrency exchange, Cointhumb, the world’s six largest exchange. Earlier in February,reports of over 30,000 coding bugs were found in Ethereum’s smart contracts, leaving millions in cryptocurrency vulnerable to theft. And let’s not forget about the exit scams too, whichaccording toThe Next Web,have conned nearly $100 million in cryptocurrency. It also doesn’t help instill much reassurance when famous former stockbroker Jordan Befort, who served a four-year prison sentence after being convicted in a penny stock boiler room operation, is warning the public of scams in the crypto space. “Bitcoin itself is not a scam, I don’t think,” he toldCNBCin an interview. He went on to say that it’s a “dark market” and that “people dive into that and use it to rip others off.” “It’s not that bitcoin’s a scam but its nature allows scams to occur,” he argued. Still, there are firms like JP Morgan that have already shown interest in the space, the company appointed a head of “Crypto-Assets Strategy” this past May. JP Morgan is also part of theEnterprise Ethereum Alliance(EEA), which consists of over 85 firms and companies such as Deloitte, Ernst and Young (EY), Intel and Microsoft. Reddit’s co-founder Alexis Ohanian sayshe’s betting on bitcoin despite its volatility, while Google announced recently it will be sharing big data about the Ethereum blockchain, available for exploration via BigQuery. Ethereum also has smart contracts, which lends more capabilities on the blockchain, and for many provides more trust and scalability. You can read Google’s full blog posthere. “We’re at this moment where it’s very industrial, very techy, very infrastructure-based and we still have a lot work to do to build scale and great resiliency in these systems that we’re taking about,” says Matthew Roszak, CEO ofBloq, a blockchain technology company. “It’s got to be happening in real time before your brother, neighbour or hairdresser doesn’t even know they’re running on blockchain-based systems.” Download the Yahoo Finance app, available forAppleandAndroid. \|\| EOG Resources Inc. Continues to Sharpen Its Focus on the U.S.: According to a report by Reuters,EOG Resources(NYSE: EOG)has agreed to sell its oil and gas operations in the U.K. While the buyer didn't disclose the price, the company had hoped to fetch more than $300 million for these assets. However, that cash infusion wasn't the driving factor of this sale considering that EOG Resources ended last quarter with $1 billion in cash on its balance sheet and was on pace to produce more than $1 billion in free cash flow in the second half of this year. Instead, what drove this sale is EOG Resources' desire to further reduce its exposure to international markets. That will enable the company to focus even more of its attention on the U.S., where it continues uncovering vast supplies of low-cost oil. Image source: Getting images. EOG Resources reportedly sold its U.K. offshore assets to Tailwind Energy. The deal includes 100% of the Conway oilfield, a 25% interest in the Columbus gas development project, and some other smaller assets in the North Sea. Conway produces about 11,000 barrels of oil per day and has been generating free cash flow for EOG. Further, the field held approximately 10.9 million barrels of reserves. Columbus, on the other hand, is on track to start producing in early 2019, providing near-term growth for the new owner. Unlike many rivals that are unloading assets to reduce debt or buy back stock, EOG Resources is selling this business as part of its continued effort to shift its focus to its U.S. onshore shale assets. The company has done this by steadily parting ways with its international operations over the years. In 2016, for example, EOG sold its assets in Argentina to that country's national oil company. Meanwhile, the company has beenslowly exiting Canada in recent years. In 2014, the company sold the bulk of its Canadian assets for $410 million, which led it to close its office in the country. Two years before that, EOG sold its interest in the Kitimat LNG project as well as some associated natural gas acreage and assets in the country toChevron. With those sales, EOG's remaining international assets are in China, Canada, and Trinidad and Tobago. Of that group, Trinidad and Tobago is the only region where the company is focusing much attention these days. The company currently produces natural gas from several fields that it sells under a supply contract in Trinidad, which enables it to continue drilling more wells. Image source: Getty Images. The reason EOG Resources and many of its U.S. peers initially set their sights abroad was due to the lack of growth prospects at home. However, that has changed in more recent years, after the industry discovered how to tap into the country's vast shale resources. That has opened a treasure trove of oil and gas resources that now has many oil companies abandoning their global growth efforts to focus on expanding output at home. EOG Resources has been at the forefront of exploring the country's shale plays. It was a first mover in drilling shale gas wells in the Barnett, Marcellus, and Haynesville more than a decade ago. That success led it to be an early developer of oilier plays such as Bakken, Eagle Ford, and DJ Basin in the last 10 years. These exploration efforts have paid big dividends for the company, which now sits on an estimated 13.3 billion barrels of oil equivalent resources across six different regions that will provide it with decades of high-return growth at its current drilling pace. EOG continues to find new sources of oil, most recently unveiling a jaw-dropping 2.1 billion barrel of oil equivalent (BOE) resource in thePowder River Basin of Wyoming. Meanwhile, the company continues exploring its acreage around the country, which could lead to additional discoveries in the coming years. EOG Resources has been an early mover in drilling horizontal oil and gas wells in shale plays across the U.S. over the past decade and a half. That decision has enabled the company to generate market-smashing returns over the last 10 years, with its stock surging 166% versus a 98% gain for theS&P 500,even though oil has fallen 28%. That outperformance should continue given the company's large supply of low-cost oil resources andshareholder-focused expansion plan, which is why it remains one of thetop stocks to buy in the oil patch. More From The Motley Fool • 3 Growth Stocks at Deep-Value Prices • 5 Expected Social Security Changes in 2018 • 6 Years Later, 6 Charts That Show How Far Apple, Inc. Has Come Since Steve Jobs' Passing • 10 Best Stocks to Buy Today • The $16,122 Social Security Bonus You Cannot Afford to Miss • Bitcoin's Biggest Competitor Isn't Ethereum -- It's This Matthew DiLallohas no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has adisclosure policy. \|\| EOG Resources Inc. Continues to Sharpen Its Focus on the U.S.: According to a report by Reuters, EOG Resources (NYSE: EOG) has agreed to sell its oil and gas operations in the U.K. While the buyer didn't disclose the price, the company had hoped to fetch more than $300 million for these assets. However, that cash infusion wasn't the driving factor of this sale considering that EOG Resources ended last quarter with $1 billion in cash on its balance sheet and was on pace to produce more than $1 billion in free cash flow in the second half of this year. Instead, what drove this sale is EOG Resources' desire to further reduce its exposure to international markets. That will enable the company to focus even more of its attention on the U.S., where it continues uncovering vast supplies of low-cost oil. An oil pump under a blue sky. Image source: Getting images. Slowly heading for the exit EOG Resources reportedly sold its U.K. offshore assets to Tailwind Energy. The deal includes 100% of the Conway oilfield, a 25% interest in the Columbus gas development project, and some other smaller assets in the North Sea. Conway produces about 11,000 barrels of oil per day and has been generating free cash flow for EOG. Further, the field held approximately 10.9 million barrels of reserves. Columbus, on the other hand, is on track to start producing in early 2019, providing near-term growth for the new owner. Unlike many rivals that are unloading assets to reduce debt or buy back stock, EOG Resources is selling this business as part of its continued effort to shift its focus to its U.S. onshore shale assets. The company has done this by steadily parting ways with its international operations over the years. In 2016, for example, EOG sold its assets in Argentina to that country's national oil company. Meanwhile, the company has been slowly exiting Canada in recent years . In 2014, the company sold the bulk of its Canadian assets for $410 million, which led it to close its office in the country. Two years before that, EOG sold its interest in the Kitimat LNG project as well as some associated natural gas acreage and assets in the country to Chevron . Story continues With those sales, EOG's remaining international assets are in China, Canada, and Trinidad and Tobago. Of that group, Trinidad and Tobago is the only region where the company is focusing much attention these days. The company currently produces natural gas from several fields that it sells under a supply contract in Trinidad, which enables it to continue drilling more wells. Drilling rigs in the mountains. Image source: Getty Images. Uncovering a motherload of oil at home The reason EOG Resources and many of its U.S. peers initially set their sights abroad was due to the lack of growth prospects at home. However, that has changed in more recent years, after the industry discovered how to tap into the country's vast shale resources. That has opened a treasure trove of oil and gas resources that now has many oil companies abandoning their global growth efforts to focus on expanding output at home. EOG Resources has been at the forefront of exploring the country's shale plays. It was a first mover in drilling shale gas wells in the Barnett, Marcellus, and Haynesville more than a decade ago. That success led it to be an early developer of oilier plays such as Bakken, Eagle Ford, and DJ Basin in the last 10 years. These exploration efforts have paid big dividends for the company, which now sits on an estimated 13.3 billion barrels of oil equivalent resources across six different regions that will provide it with decades of high-return growth at its current drilling pace. EOG continues to find new sources of oil, most recently unveiling a jaw-dropping 2.1 billion barrel of oil equivalent (BOE) resource in the Powder River Basin of Wyoming . Meanwhile, the company continues exploring its acreage around the country, which could lead to additional discoveries in the coming years. The fuel to continue outperforming EOG Resources has been an early mover in drilling horizontal oil and gas wells in shale plays across the U.S. over the past decade and a half. That decision has enabled the company to generate market-smashing returns over the last 10 years, with its stock surging 166% versus a 98% gain for the S&P 500 ,even though oil has fallen 28%. That outperformance should continue given the company's large supply of low-cost oil resources and shareholder-focused expansion plan , which is why it remains one of the top stocks to buy in the oil patch . More From The Motley Fool 3 Growth Stocks at Deep-Value Prices 5 Expected Social Security Changes in 2018 6 Years Later, 6 Charts That Show How Far Apple, Inc. Has Come Since Steve Jobs' Passing 10 Best Stocks to Buy Today The $16,122 Social Security Bonus You Cannot Afford to Miss Bitcoin's Biggest Competitor Isn't Ethereum -- It's This Matthew DiLallo has no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy . \|\| Iran Legitimizes Crypto Mining Industry, Bitcoin Price Spikes to $24,000 Locally: The Iranian government’s recognition of cryptocurrency mining as a legitimate industry propelled bitcoin price to hit record highs at a time when the country closes in on its own national cryptocurrency to evade sanctions. According to local news agencyIBENA, the country’s High Council of Cyberspace (HCC) has confirmed that the government now sees the mining of cryptocurrencies like bitcoin as a legitimate industry. HCC secretary Abolhassan Firouzabadi stressed that the authority will “declare the framework and final policies” for startups and companies in the cryptocurrency sector before the turn of this month. Notably, the senior government official pointed to a unified policy approach among several government bodies including the ministries of Communications and Information Technology, Industry, Mining and Trade, Energy as well as the Ministry of Economic Affairs have all agreed that crypto mining “has been accepted as an industry.” Asreportedin November 2017, Firouzabadi has taken a decidedly embracive approach to the use of cryptocurrencies in Iran, under regulation. He stated at the time: “We [at the HCC] welcome Bitcoin, but we must have regulations for Bitcoin and any other digital currency…Our view regarding Bitcoin is positive, but it does not mean that we will not require regulations in this regard because following the rules is a must.” The legitimization of crypto mining in Iran follows the much-publicized government endeavor todevelop and launch a state cryptocurrency. The state token, Iranian authorities hope, will help circumvent western financial sanctions led by U.S. President Donald Trump. The indigenous cryptocurrency is pegged to Iran’s national currency, the rial, and is being developed on open-source blockchain tech offered by the Linux Foundaiton-ledHyperledger Fabric. When launched, the cryptocurrency will be used as a digital token to settle transactions within domestic banks alongside its intended usage in global commerce with allies without depending on SWIFT’s global interbanking system. Firouzabadi stressed that the state cryptocurrency “can be used as a financial transaction instrument with Iran’s trade partners and friendly countries amid economic pressures through U.S. sanctions.” In a direct reaction to the state’s recognition of crypto mining, trading activity in domestic Iranian exchanges shot through the roof to send bitcoin prices to record highs at $24,00 per coin, over 3x the global average in recent days. “The $24,000 figure was quoted on multiple digital currency exchanges but most notably Exir, where BTC traded hands at a price of 1,020,000,000 IRR,” Sam Bourgi of CCN’s sister publicationHackedreported. “That quashes the previous high of $20,000 per coin. By comparison, bitcoin traded at around $7,000 on major cryptocurrency exchanges on Wednesday.” Trading activity has been rampant in Iran during recent months with the head of Iranian Parliament’s Economic Commission claiming citizens had spentover $2.5 billionbuying cryptocurrencies beyond the country’s borders in anticipation of the United States’formal withdrawalfrom the Iranian nuclear deal. Tehran palace image from Shutterstock. The postIran Legitimizes Crypto Mining Industry, Bitcoin Price Spikes to $24,000 Locallyappeared first onCCN. \|\| Iran Legitimizes Crypto Mining Industry, Bitcoin Price Spikes to $24,000 Locally: The Iranian government’s recognition of cryptocurrency mining as a legitimate industry propelled bitcoin price to hit record highs at a time when the country closes in on its own national cryptocurrency to evade sanctions. According to local news agencyIBENA, the country’s High Council of Cyberspace (HCC) has confirmed that the government now sees the mining of cryptocurrencies like bitcoin as a legitimate industry. HCC secretary Abolhassan Firouzabadi stressed that the authority will “declare the framework and final policies” for startups and companies in the cryptocurrency sector before the turn of this month. Notably, the senior government official pointed to a unified policy approach among several government bodies including the ministries of Communications and Information Technology, Industry, Mining and Trade, Energy as well as the Ministry of Economic Affairs have all agreed that crypto mining “has been accepted as an industry.” Asreportedin November 2017, Firouzabadi has taken a decidedly embracive approach to the use of cryptocurrencies in Iran, under regulation. He stated at the time: “We [at the HCC] welcome Bitcoin, but we must have regulations for Bitcoin and any other digital currency…Our view regarding Bitcoin is positive, but it does not mean that we will not require regulations in this regard because following the rules is a must.” The legitimization of crypto mining in Iran follows the much-publicized government endeavor todevelop and launch a state cryptocurrency. The state token, Iranian authorities hope, will help circumvent western financial sanctions led by U.S. President Donald Trump. The indigenous cryptocurrency is pegged to Iran’s national currency, the rial, and is being developed on open-source blockchain tech offered by the Linux Foundaiton-ledHyperledger Fabric. When launched, the cryptocurrency will be used as a digital token to settle transactions within domestic banks alongside its intended usage in global commerce with allies without depending on SWIFT’s global interbanking system. Firouzabadi stressed that the state cryptocurrency “can be used as a financial transaction instrument with Iran’s trade partners and friendly countries amid economic pressures through U.S. sanctions.” In a direct reaction to the state’s recognition of crypto mining, trading activity in domestic Iranian exchanges shot through the roof to send bitcoin prices to record highs at $24,00 per coin, over 3x the global average in recent days. “The $24,000 figure was quoted on multiple digital currency exchanges but most notably Exir, where BTC traded hands at a price of 1,020,000,000 IRR,” Sam Bourgi of CCN’s sister publicationHackedreported. “That quashes the previous high of $20,000 per coin. By comparison, bitcoin traded at around $7,000 on major cryptocurrency exchanges on Wednesday.” Trading activity has been rampant in Iran during recent months with the head of Iranian Parliament’s Economic Commission claiming citizens had spentover $2.5 billionbuying cryptocurrencies beyond the country’s borders in anticipation of the United States’formal withdrawalfrom the Iranian nuclear deal. Tehran palace image from Shutterstock. The postIran Legitimizes Crypto Mining Industry, Bitcoin Price Spikes to $24,000 Locallyappeared first onCCN. \|\| Iran Legitimizes Crypto Mining Industry, Bitcoin Price Spikes to $24,000 Locally: The Iranian government’s recognition of cryptocurrency mining as a legitimate industry propelled bitcoin price to hit record highs at a time when the country closes in on its own national cryptocurrency to evade sanctions. According to local news agency IBENA , the country’s High Council of Cyberspace (HCC) has confirmed that the government now sees the mining of cryptocurrencies like bitcoin as a legitimate industry. HCC secretary Abolhassan Firouzabadi stressed that the authority will “declare the framework and final policies” for startups and companies in the cryptocurrency sector before the turn of this month. Notably, the senior government official pointed to a unified policy approach among several government bodies including the ministries of Communications and Information Technology, Industry, Mining and Trade, Energy as well as the Ministry of Economic Affairs have all agreed that crypto mining “has been accepted as an industry.” As reported in November 2017, Firouzabadi has taken a decidedly embracive approach to the use of cryptocurrencies in Iran, under regulation. He stated at the time: “We [at the HCC] welcome Bitcoin, but we must have regulations for Bitcoin and any other digital currency…Our view regarding Bitcoin is positive, but it does not mean that we will not require regulations in this regard because following the rules is a must.” The legitimization of crypto mining in Iran follows the much-publicized government endeavor to develop and launch a state cryptocurrency . The state token, Iranian authorities hope, will help circumvent western financial sanctions led by U.S. President Donald Trump. The indigenous cryptocurrency is pegged to Iran’s national currency, the rial, and is being developed on open-source blockchain tech offered by the Linux Foundaiton-led Hyperledger Fabric . When launched, the cryptocurrency will be used as a digital token to settle transactions within domestic banks alongside its intended usage in global commerce with allies without depending on SWIFT’s global interbanking system. Story continues Firouzabadi stressed that the state cryptocurrency “can be used as a financial transaction instrument with Iran’s trade partners and friendly countries amid economic pressures through U.S. sanctions.” Bitcoin Price Hits Domestic All-Time High In a direct reaction to the state’s recognition of crypto mining, trading activity in domestic Iranian exchanges shot through the roof to send bitcoin prices to record highs at $24,00 per coin, over 3x the global average in recent days. “The $24,000 figure was quoted on multiple digital currency exchanges but most notably Exir, where BTC traded hands at a price of 1,020,000,000 IRR,” Sam Bourgi of CCN’s sister publication Hacked reported. “That quashes the previous high of $20,000 per coin. By comparison, bitcoin traded at around $7,000 on major cryptocurrency exchanges on Wednesday.” Trading activity has been rampant in Iran during recent months with the head of Iranian Parliament’s Economic Commission claiming citizens had spent over $2.5 billion buying cryptocurrencies beyond the country’s borders in anticipation of the United States’ formal withdrawal from the Iranian nuclear deal. Tehran palace image from Shutterstock. The post Iran Legitimizes Crypto Mining Industry, Bitcoin Price Spikes to $24,000 Locally appeared first on CCN . \|\| Why Sprouts Farmers Markets, Inc. Stock Skyrocketed 23.2% in August: What happened Shares of Sprouts Farmers Market Inc. (NASDAQ: SFM) jumped 23.2% in August, according to data from S&P Global Market Intelligence , after the natural and organic grocery chain released strong second-quarter results and modestly increased its full-year guidance. To be sure, Sprouts stock climbed more than 12% on Aug. 2, 2018, alone -- the first trading day after its report hit the wires -- then continued drifting higher from there. Neatly arranged produce at a Sprouts Farmers Market store IMAGE SOURCE: SPROUTS FARMERS MARKET. So what Sprouts' quarterly revenue climbed 12% year over year to $1.32 billion, including a modest 2% increase in comparable-store sales.That translated to a 2% increase in net income to $42 million, and -- thanks to share repurchases over the past year -- 10% earnings growth on a per-share basis to $0.32. Both the top and bottom lines were roughly in line with Wall Street's expectations. According to CEO Amin Maredia, the company's double-digit growth "reflects the strength of Sprouts' differentiated business model and our solid execution across new and existing markets." Now what Looking ahead to the rest of the year, Sprouts called for 2018 earnings per share in the range of $1.24 to $1.28, marking a $0.02-per-share increase from the lower end of its previous range. Sprouts also reaffirmed its full-year 2018 outlook for net sales to jump 10.5% to 11.5%, assuming comparable-store sales growth of 1.5% to 2.5%. Of course, this report wasn't exactly the jaw-dropping variety that typically results in big post-earnings gains. But shares had also fallen around 25% from their 52-week high set this past February, leaving the stock ripe for a rebound on the first sign of good news. As a result, it was no surprise to see Sprouts bouncing back last month last month, and it will be equally unsurprising if the stock sustains its momentum in the coming months. More From The Motley Fool 3 Growth Stocks at Deep-Value Prices 5 Expected Social Security Changes in 2018 6 Years Later, 6 Charts That Show How Far Apple, Inc. Has Come Since Steve Jobs' Passing 10 Best Stocks to Buy Today The $16,122 Social Security Bonus You Cannot Afford to Miss Bitcoin's Biggest Competitor Isn't Ethereum -- It's This Steve Symington has no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy . \|\| Why Sprouts Farmers Markets, Inc. Stock Skyrocketed 23.2% in August: Shares ofSprouts Farmers Market Inc.(NASDAQ: SFM)jumped 23.2% in August, according to data fromS&P Global Market Intelligence, after the natural and organic grocery chain released strong second-quarter results and modestly increased its full-year guidance. To be sure, Sprouts stockclimbed more than 12%on Aug. 2, 2018, alone -- the first trading day after its report hit the wires -- then continued drifting higher from there. IMAGE SOURCE: SPROUTS FARMERS MARKET. Sprouts' quarterly revenue climbed 12% year over year to $1.32 billion, including a modest 2% increase in comparable-store sales.That translated to a 2% increase in net income to $42 million, and -- thanks to share repurchases over the past year -- 10% earnings growth on a per-share basis to $0.32. Both the top and bottom lines were roughly in line with Wall Street's expectations. According to CEO Amin Maredia, the company's double-digit growth "reflects the strength of Sprouts' differentiated business model and our solid execution across new and existing markets." Looking ahead to the rest of the year, Sprouts called for 2018 earnings per share in the range of $1.24 to $1.28, marking a $0.02-per-share increase from the lower end of its previous range. Sprouts also reaffirmed its full-year 2018 outlook for net sales to jump 10.5% to 11.5%, assuming comparable-store sales growth of 1.5% to 2.5%. Of course, this report wasn't exactly the jaw-dropping variety that typically results in big post-earnings gains. But shares had also fallen around 25% from their 52-week high set this past February, leaving the stock ripe for a rebound on the first sign of good news. As a result, it was no surprise to see Sprouts bouncing back last month last month, and it will be equally unsurprising if the stock sustains its momentum in the coming months. More From The Motley Fool • 3 Growth Stocks at Deep-Value Prices • 5 Expected Social Security Changes in 2018 • 6 Years Later, 6 Charts That Show How Far Apple, Inc. Has Come Since Steve Jobs' Passing • 10 Best Stocks to Buy Today • The $16,122 Social Security Bonus You Cannot Afford to Miss • Bitcoin's Biggest Competitor Isn't Ethereum -- It's This Steve Symingtonhas no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has adisclosure policy. \|\| Morning Brief: Starbucks debuts in Milan; Howard Schultz addresses speculation of presidential run: Thursday, September 6, 2018 Get the Morning Brief sent directly to your inbox every Monday to Friday by 6:30 a.m. ET.Subscribe On Thursday, the market’s attention will shift to the U.S. labor market with ADP’s report on private payroll growth and the weekly report on initial jobless claims both set for release in the morning. Economists expect that private payroll growth totaled 200,000 during August, with this report coming just one day before Friday’s official jobs report. Elsewhere on the economic calendar on Thursday, the August read on service sector activity from Markit Economics as well as the Institute for Supply Management’s gauge on non-manufacturing economic activity will also be released. Factory orders for July are also set to be published. And on the earnings side, the week’s lone report from the S&P 500 will come after the market close when Broadcom (AVGO) reports results. Other companies reporting results Thursday should include Barnes & Noble (BKS), GameStop (GME), Five Below (FIVE), and Lands’ End (LE). Read More Starbucks makes its debut in Milan, the place that inspired Howard Schultz: Starbucks (SBUX) will open its first store in Milan, Italy, this week, in the coffee mecca that inspired the company as we know it today. [Yahoo Finance] Is Howard Schultz eyeing a White House run?: When Howard Schultz stepped down from the board and his role as executive chairman of Starbucks in June, there was speculation that he might be eyeing a presidential run in 2020. In an interview ahead of the opening of Starbucks’s Milan Reserve Roastery, Yahoo Finance asked Schultz what his plans are now that the summer is almost over. During that same interview, Schultz also saidthat theU.S. and China should work to find common ground amid ongoing trade tensions.[Yahoo Finance] FBI probing Amex foreign-exchange pricing: The Federal Bureau of Investigation has launched a probe into pricing practices within American Express Co.’s (AXP) foreign-exchange unit, according to people familiar with the matter. The investigation is in its early stages and is focused on whether the foreign-exchange international payments department misrepresented pricing to clients in order to win their business, the people said. [The Wall Street Journal] CBS and National Amusements in talks to settle litigation: CBS Corp. (CBS) is in settlement talks with Shari Redstone and her family’s holding company National Amusements Inc over a litigation for the control of the broadcaster, a source familiar with the matter said. [Reuters] Major health-industry deals move closer to approval: The U.S. Department of Justice is on track to soon approve the acquisition of pharmacy-benefit manager Express Scripts Holding Co. (ESRX) by health insurer Cigna Corp. (CI), as well as CVS Health Corp.’s (CVS) takeover of insurer Aetna Inc. (AET), said a person familiar with the matter. The two deals stand to reshape the insurance and pharmacy industries. [Bloomberg] Bitcoin falls off a cliff again: Cryptocurrencies dropped sharply for the second time in less than 24 hours, sinking toward a nine-month low amid concern that broader adoption of digital assets will take longer than some anticipated. Bitcoin (BTC-USD), the largest cryptocurrency, tumbled as much as 9.8%, according to Bloomberg composite pricing.[Bloomberg] For more of the latest news,go to Yahoo Finance Yahoo Finance Originals Senators express ‘outrage’ and ‘disappointment’ at Google top execs for skipping hearing Facebook and Twitter on why they ‘are not doing business in China’ Men and women aren’t that different: investing app Stash NBA makes Beats by Dre its official headphone partner What it’s like to become a US citizen — The Morning Brief provides a quick rundown on what to watch in the markets, top news stories, and the best of Yahoo Finance Originals. \|\| Yahoo Finance Morning Brief: September 6, 2018: Thursday, September 6, 2018 Get the Morning Brief sent directly to your inbox every Monday to Friday by 6:30 a.m. ET. Subscribe What to watch today On Thursday, the market’s attention will shift to the U.S. labor market with ADP’s report on private payroll growth and the weekly report on initial jobless claims both set for release in the morning. Economists expect that private payroll growth totaled 200,000 during August, with this report coming just one day before Friday’s official jobs report. Elsewhere on the economic calendar on Thursday, the August read on service sector activity from Markit Economics as well as the Institute for Supply Management’s gauge on non-manufacturing economic activity will also be released. Factory orders for July are also set to be published. And on the earnings side, the week’s lone report from the S&P 500 will come after the market close when Broadcom ( AVGO ) reports results. Other companies reporting results Thursday should include Barnes & Noble ( BKS ), GameStop ( GME ), Five Below ( FIVE ), and Lands’ End ( LE ). Read More Top news Starbucks makes its debut in Milan, the place that inspired Howard Schultz : S tarbucks ( SBUX ) will open its first store in Milan, Italy, this week, in the coffee mecca that inspired the company as we know it today. [Yahoo Finance] Is Howard Schultz eyeing a White House run? : When Howard Schultz stepped down from the board and his role as executive chairman of Starbucks in June, there was speculation that he might be eyeing a presidential run in 2020. In an interview ahead of the opening of Starbucks’s Milan Reserve Roastery, Yahoo Finance asked Schultz what his plans are now that the summer is almost over. During that same interview, Schultz also said that the U.S. and China should work to find common ground amid ongoing trade tensions . [Yahoo Finance] FBI probing Amex foreign-exchange pricing : The Federal Bureau of Investigation has launched a probe into pricing practices within American Express Co.’s ( AXP ) foreign-exchange unit, according to people familiar with the matter. The investigation is in its early stages and is focused on whether the foreign-exchange international payments department misrepresented pricing to clients in order to win their business, the people said. [The Wall Street Journal] Story continues CBS and National Amusements in talks to settle litigation : CBS Corp. ( CBS ) is in settlement talks with Shari Redstone and her family’s holding company National Amusements Inc over a litigation for the control of the broadcaster, a source familiar with the matter said. [Reuters] Major health-industry deals move closer to approval : The U.S. Department of Justice is on track to soon approve the acquisition of pharmacy-benefit manager Express Scripts Holding Co. ( ESRX ) by health insurer Cigna Corp. ( CI ), as well as CVS Health Corp.’s ( CVS ) takeover of insurer Aetna Inc. ( AET ), said a person familiar with the matter. The t wo deals stand to reshape the insurance and pharmacy industries. [Bloomberg] Bitcoin falls off a cliff again : Cryptocurrencies dropped sharply for the second time in less than 24 hours, sinking toward a nine-month low amid concern that broader adoption of digital assets will take longer than some anticipated. Bitcoin ( BTC-USD ), the largest cryptocurrency, tumbled as much as 9.8%, according to Bloomberg composite pricing. [Bloomberg] For more of the latest news, go to Yahoo Finance Facebook COO Sheryl Sandberg, left, accompanied by Twitter CEO Jack Dorsey are sworn in before the Senate Intelligence Committee hearing on ‘Foreign Influence Operations and Their Use of Social Media Platforms’ on Capitol Hill, Wednesday, Sept. 5, 2018, in Washington. (AP Photo/Jose Luis Magana) Yahoo Finance Originals Senators express ‘outrage’ and ‘disappointment’ at Google top execs for skipping hearing Facebook and Twitter on why they ‘are not doing business in China’ Men and women aren’t that different: investing app Stash NBA makes Beats by Dre its official headphone partner What it’s like to become a US citizen — The Morning Brief provides a quick rundown on what to watch in the markets, top news stories, and the best of Yahoo Finance Originals. \|\| [Only] Bitcoin Accepted: $3 Million Valletta Palazzo Mansion Goes on Sale in Malta: It seems thatMaltacontinues to steal the headlines for innovative projects in the blockchain space with the most recent offering being a huge palazzo in the heart of Valletta being offered for sale with a $3 million price tag. The mansion can only be purchased in Bitcoin, with the property going on sale for 550 BTC. The 860 square-meter historic building in the heart of the Mediterranean island’s vibrant capital of Valletta also comes with permission to be transformed into a hotel or even office space. Valletta is undergoing a complete transformation lately with tens of previously abandoned mansions and palazzos being converted into high end boutique hotels catering for the upcomingnouveau riche. Uniquely, the imposing building comes with a three million euro price tag but can only be purchased in Bitcoin, giving its investor the opportunity to claim the title of making the first cryptocurrency property purchase on ‘Blockchain Island’. The ubiquitous John MacAfee who has also confirmed his participation at theMalta Blockchain Summitwhich is taking place in November has also been tweeting about the palazzo sale in Bitcoin. According to Ian Fitzpatrick who owns the property, there are a number of high net worth individuals who are looking at Malta as a place to invest their crypto wealth. This property could be the first of many coming on the market in cryptocurrency. Fitzpatrick was quoted as stating that the palazzo is more than four centuries old and has the potential to be developed into a boutique hotel which is becoming all the rage in Malta’s capital city. The sale is part of an initiative called CryptoHomes.io which, according to a statement on its official website, seeks to make more real estate listings available through crypto following the conclusion of the first crypto real estate investment in Malta. CryptoHomes has partnered with Cubits – a widely-trusted and well-established multi-currency wallet. One of CryptoHomes’ initiators – Dennis Avorin – said the move was a big step in proving cryptocurrency has a future in purchasing assets in the same way as regular cash. He stated: “Crypto is here to stay and we want to showcase that cryptocurrencies are not only commodities for speculators but also a means to purchase solid assets. Purchasing real estate with crypto is like purchasing real estate with fiat – the same due diligence and rules apply. We simply want to promote the use of crypto as a vehicle for solid investments and Malta is a great start with the incredibly strong real estate market that we have seen in the past few years”. In order to deliver full ‘know your customer’ (KYC) knowledge and due diligence, CryptoHomes has also partnered with KnowMeNow – a blockchain based KYC solution. Other real estate companies such as Remax Malta are also advertising the possibility of buying property with cryptocurrency but so far there have been no listings yet.Montenegrowas the first country to complete an apartment sale with Bitcoin although this was apparently immediately converted to fiat currency once the purchase was completed. Featured image from Shutterstock. The post[Only] Bitcoin Accepted: $3 Million Valletta Palazzo Mansion Goes on Sale in Maltaappeared first onCCN. [Social Media Buzz] #BTCUSD Market #1H timeframe on September 7 at 10:00 (UTC) is #Bearish. #cryptocurrency #bitcoin #btc #crypto #trading #idea #report technical analysis \|\| ツイート数の多かった仮想通貨 1位 $BTC 427 Tweets 2位 $TRX 266 Tweets 3位 $XRP 163 Tweets 4位 $ETH 96 Tweets 5位 $C20 56 Tweets 2018-09-08 07:00 ～ 2018-09-08 07:59 COINTREND いまTwitterで話題の仮想通貨を探せ！ https://cointrend.jp/ \|\| 2018-09-07 08:00:03 UTC BTC: $6504.66 BCH: $513.79 ETH: $225.57 ZEC: $130.68 LTC: $56.95 ETC: $11.85 XRP: $0.2953 \|\| Top 5 Cryptocurrencies...	6225.98, 6300.86, 6329.70, 6321.20, 6351.80, 6517.31, 6512.71, 6543.20, 6517.18, 6281.20
Given the historical Bitcoin prices from the last 90 days, predict the next 10 daily closing prices. The historical prices are: 413.76, 413.31, 418.09, 418.04, 416.39, 417.18, 417.95, 426.77, 424.23, 416.52, 414.82, 416.73, 417.96, 420.87, 420.90, 421.44, 424.03, 423.41, 422.74, 420.35, 419.41, 421.56, 422.48, 425.19, 423.73, 424.28, 429.71, 430.57, 427.40, 428.59, 435.51, 441.39, 449.42, 445.74, 450.28, 458.55, 461.43, 466.09, 444.69, 449.01, 455.10, 448.32, 451.88, 444.67, 450.30, 446.72, 447.98, 459.60, 458.54, 458.55, 460.48, 450.89, 452.73, 454.77, 455.67, 455.67, 457.57, 454.16, 453.78, 454.62, 438.71, 442.68, 443.19, 439.32, 444.15, 445.98, 449.60, 453.38, 473.46, 530.04, 526.23, 533.86, 531.39, 536.92, 537.97, 569.19, 572.73, 574.98, 585.54, 576.60, 581.65, 574.63, 577.47, 606.73, 672.78, 704.38, 685.56, 694.47, 766.31, 748.91.	[Bitcoin Technical Analysis for 2016-06-17] Volume: 363320992, RSI (14-day): 81.84, 50-day EMA: 544.88, 200-day EMA: 443.21 [Wider Market Context] Gold Price: 1292.50, Gold RSI: 66.78 Oil Price: 47.98, Oil RSI: 50.66 [Recent News (last 7 days)] Bank of Canada studies payments system using tech behind bitcoin: By Ethan Lou and Leah Schnurr TORONTO/OTTAWA (Reuters) - The Bank of Canada is experimenting with a payments system based on the technology behind the bitcoin virtual currency, the central bank said on Thursday. Bank of Canada Senior Deputy Governor Carolyn Wilkins said the central bank has been working with commercial banks to build the experimental interbank payment system. The goal "is solely to better understand the technology first-hand," she said in a statement. "Other frameworks need to be investigated, and there are many hurdles that need to be cleared before such a system would ever be ready for prime time." Wilkins, expected to speak further on the issue on Friday, said the experiment is among many financial technology research projects. Such experiments, she noted, are not aimed at developing central-bank issued e-money‎ for use by the general public. Details of the project, which uses the distributed-ledger technology associated with web-based currency bitcoin, were revealed at a payment-technology event in Calgary on Wednesday that was closed to media. Kyle Kemper, an entrepreneur and head of the Bitcoin Alliance of Canada, who was present at Wednesday's event, said the experiment is called "Project Jasper" and involves blockchain technology. Blockchain's distributed-ledger system allows users to conduct secure transactions with each other without the need for middlemen or central oversight, unlike traditional electronic funds transfers. A slide from a presentation at the event seen by Reuters details how the banks in the experiment would pledge cash collateral in a pool that the Bank of Canada would convert into a digital version. The digital currency would then be used as a medium of exchange and could be converted back to cash. While long known as the backbone of bitcoin, launched under a pseudonym, blockchain has garnered the attention of large financial institutions in recent years. R3, a New York-based research consortium that includes all of Canada's major banks, is a partner in the Bank of Canada's project, along with Payments Canada. Royal Bank of Canada, CIBC, TD Bank and Payments Canada declined to comment. (Reporting by Leah Schnurr and Ethan Lou; Editing by Dan Grebler) \|\| Bank of Canada studies payments system using tech behind bitcoin: By Ethan Lou and Leah Schnurr TORONTO/OTTAWA (Reuters) - The Bank of Canada is experimenting with a payments system based on the technology behind the bitcoin virtual currency, the central bank said on Thursday. Bank of Canada Senior Deputy Governor Carolyn Wilkins said the central bank has been working with commercial banks to build the experimental interbank payment system. The goal "is solely to better understand the technology first-hand," she said in a statement. "Other frameworks need to be investigated, and there are many hurdles that need to be cleared before such a system would ever be ready for prime time." Wilkins, expected to speak further on the issue on Friday, said the experiment is among many financial technology research projects. Such experiments, she noted, are not aimed at developing central-bank issued e-money‎ for use by the general public. Details of the project, which uses the distributed-ledger technology associated with web-based currency bitcoin, were revealed at a payment-technology event in Calgary on Wednesday that was closed to media. Kyle Kemper, an entrepreneur and head of the Bitcoin Alliance of Canada, who was present at Wednesday's event, said the experiment is called "Project Jasper" and involves blockchain technology. Blockchain's distributed-ledger system allows users to conduct secure transactions with each other without the need for middlemen or central oversight, unlike traditional electronic funds transfers. A slide from a presentation at the event seen by Reuters details how the banks in the experiment would pledge cash collateral in a pool that the Bank of Canada would convert into a digital version. The digital currency would then be used as a medium of exchange and could be converted back to cash. While long known as the backbone of bitcoin, launched under a pseudonym, blockchain has garnered the attention of large financial institutions in recent years. R3, a New York-based research consortium that includes all of Canada's major banks, is a partner in the Bank of Canada's project, along with Payments Canada. Royal Bank of Canada, CIBC, TD Bank and Payments Canada declined to comment. (Reporting by Leah Schnurr and Ethan Lou; Editing by Dan Grebler) \|\| Bank of Canada studies payments system using tech behind bitcoin: By Ethan Lou and Leah Schnurr TORONTO/OTTAWA (Reuters) - The Bank of Canada is experimenting with a payments system based on the technology behind the bitcoin virtual currency, the central bank said on Thursday. Bank of Canada Senior Deputy Governor Carolyn Wilkins said the central bank has been working with commercial banks to build the experimental interbank payment system. The goal "is solely to better understand the technology first-hand," she said in a statement. "Other frameworks need to be investigated, and there are many hurdles that need to be cleared before such a system would ever be ready for prime time." Wilkins, expected to speak further on the issue on Friday, said the experiment is among many financial technology research projects. Such experiments, she noted, are not aimed at developing central-bank issued e-money‎ for use by the general public. Details of the project, which uses the distributed-ledger technology associated with web-based currency bitcoin, were revealed at a payment-technology event in Calgary on Wednesday that was closed to media. Kyle Kemper, an entrepreneur and head of the Bitcoin Alliance of Canada, who was present at Wednesday's event, said the experiment is called "Project Jasper" and involves blockchain technology. Blockchain's distributed-ledger system allows users to conduct secure transactions with each other without the need for middlemen or central oversight, unlike traditional electronic funds transfers. A slide from a presentation at the event seen by Reuters details how the banks in the experiment would pledge cash collateral in a pool that the Bank of Canada would convert into a digital version. The digital currency would then be used as a medium of exchange and could be converted back to cash. While long known as the backbone of bitcoin, launched under a pseudonym, blockchain has garnered the attention of large financial institutions in recent years. R3, a New York-based research consortium that includes all of Canada's major banks, is a partner in the Bank of Canada's project, along with Payments Canada. Royal Bank of Canada, CIBC, TD Bank and Payments Canada declined to comment. (Reporting by Leah Schnurr and Ethan Lou; Editing by Dan Grebler) \|\| Bank of Canada studies payments system using tech behind bitcoin: By Ethan Lou and Leah Schnurr TORONTO/OTTAWA (Reuters) - The Bank of Canada is experimenting with a payments system based on the technology behind the bitcoin virtual currency, the central bank said on Thursday. Bank of Canada Senior Deputy Governor Carolyn Wilkins said the central bank has been working with commercial banks to build the experimental interbank payment system. The goal "is solely to better understand the technology first-hand," she said in a statement. "Other frameworks need to be investigated, and there are many hurdles that need to be cleared before such a system would ever be ready for prime time." Wilkins, expected to speak further on the issue on Friday, said the experiment is among many financial technology research projects. Such experiments, she noted, are not aimed at developing central-bank issued e-money‎ for use by the general public. Details of the project, which uses the distributed-ledger technology associated with web-based currency bitcoin, were revealed at a payment-technology event in Calgary on Wednesday that was closed to media. Kyle Kemper, an entrepreneur and head of the Bitcoin Alliance of Canada, who was present at Wednesday's event, said the experiment is called "Project Jasper" and involves blockchain technology. Blockchain's distributed-ledger system allows users to conduct secure transactions with each other without the need for middlemen or central oversight, unlike traditional electronic funds transfers. A slide from a presentation at the event seen by Reuters details how the banks in the experiment would pledge cash collateral in a pool that the Bank of Canada would convert into a digital version. The digital currency would then be used as a medium of exchange and could be converted back to cash. While long known as the backbone of bitcoin, launched under a pseudonym, blockchain has garnered the attention of large financial institutions in recent years. R3, a New York-based research consortium that includes all of Canada's major banks, is a partner in the Bank of Canada's project, along with Payments Canada. Royal Bank of Canada, CIBC, TD Bank and Payments Canada declined to comment. (Reporting by Leah Schnurr and Ethan Lou; Editing by Dan Grebler) \|\| Bank of Canada studies payments system using tech behind bitcoin: By Ethan Lou and Leah Schnurr TORONTO/OTTAWA, June 16 (Reuters) - The Bank of Canada is experimenting with a payments system based on the technology behind the bitcoin virtual currency, the central bank said on Thursday. Bank of Canada Senior Deputy Governor Carolyn Wilkins said the central bank has been working with commercial banks to build the experimental interbank payment system. The goal "is solely to better understand the technology first-hand," she said in a statement. "Other frameworks need to be investigated, and there are many hurdles that need to be cleared before such a system would ever be ready for prime time." Wilkins, expected to speak further on the issue on Friday, said the experiment is among many financial technology research projects. Such experiments, she noted, are not aimed at developing central-bank issued e-money for use by the general public. Details of the project, which uses the distributed-ledger technology associated with web-based currency bitcoin, were revealed at a payment-technology event in Calgary on Wednesday that was closed to media. Kyle Kemper, an entrepreneur and head of the Bitcoin Alliance of Canada, who was present at Wednesday's event, said the experiment is called "Project Jasper" and involves blockchain technology. Blockchain's distributed-ledger system allows users to conduct secure transactions with each other without the need for middlemen or central oversight, unlike traditional electronic funds transfers. A slide from a presentation at the event seen by Reuters details how the banks in the experiment would pledge cash collateral in a pool that the Bank of Canada would convert into a digital version. The digital currency would then be used as a medium of exchange and could be converted back to cash. While long known as the backbone of bitcoin, launched under a pseudonym, blockchain has garnered the attention of large financial institutions in recent years. R3, a New York-based research consortium that includes all of Canada's major banks, is a partner in the Bank of Canada's project, along with Payments Canada. Royal Bank of Canada, CIBC, TD Bank and Payments Canada declined to comment. (Reporting by Leah Schnurr and Ethan Lou; Editing by Dan Grebler) \|\| Bank of Canada studies payments system using tech behind bitcoin: By Ethan Lou and Leah Schnurr TORONTO/OTTAWA, June 16 (Reuters) - The Bank of Canada is experimenting with a payments system based on the technology behind the bitcoin virtual currency, the central bank said on Thursday. Bank of Canada Senior Deputy Governor Carolyn Wilkins said the central bank has been working with commercial banks to build the experimental interbank payment system. The goal "is solely to better understand the technology first-hand," she said in a statement. "Other frameworks need to be investigated, and there are many hurdles that need to be cleared before such a system would ever be ready for prime time." Wilkins, expected to speak further on the issue on Friday, said the experiment is among many financial technology research projects. Such experiments, she noted, are not aimed at developing central-bank issued e-money for use by the general public. Details of the project, which uses the distributed-ledger technology associated with web-based currency bitcoin, were revealed at a payment-technology event in Calgary on Wednesday that was closed to media. Kyle Kemper, an entrepreneur and head of the Bitcoin Alliance of Canada, who was present at Wednesday's event, said the experiment is called "Project Jasper" and involves blockchain technology. Blockchain's distributed-ledger system allows users to conduct secure transactions with each other without the need for middlemen or central oversight, unlike traditional electronic funds transfers. A slide from a presentation at the event seen by Reuters details how the banks in the experiment would pledge cash collateral in a pool that the Bank of Canada would convert into a digital version. The digital currency would then be used as a medium of exchange and could be converted back to cash. While long known as the backbone of bitcoin, launched under a pseudonym, blockchain has garnered the attention of large financial institutions in recent years. R3, a New York-based research consortium that includes all of Canada's major banks, is a partner in the Bank of Canada's project, along with Payments Canada. Royal Bank of Canada, CIBC, TD Bank and Payments Canada declined to comment. (Reporting by Leah Schnurr and Ethan Lou; Editing by Dan Grebler) \|\| VPN and VPS Provider ChangeIP Starts Accepting Bitcoin and Alipay: Due To Popular Demand in Mainland China, ChangeIP Has Enhanced the Company's Transactional Capability to Accept Alipay MIAMI, FL / ACCESSWIRE / June 16, 2016 /ChangeIP.comnow accepts for payment both the cryptographic currency Bitcoin and China's leading third-party online payment solution, Alipay. "Due to popular demand and to serve the rapidly growing market in mainland China, ChangeIP has enhanced the company's transactional capability to accept Alipay," said ChangeIP General Manager Kapil Jain. Alipay works like an escrow service, solving the issue of settlement risk in China. Bitcoin, which utilizes SHA-256 encryption for both its Proof-of-Work (PoW) system and transaction verification, goes hand-in-hand with ChangeIP's focus on privacy and security. "The world faces complex technological privacy and security issues and all of ChangeIP's solutions--and now, payment methods--protect and promote our customers privacy, security, and freedom," said Jain. To that effect, ChangeIP recently launched aVirtual Private Network (VPN) servicethat provides a secure tunnel between its clients and the Internet with super-strong encryption. For more information, please visitchangeip.com. About ChangeIP: ChangeIP is the rockstar, low-cost and high-touch web host. ChangeIP specializes in solutions--VPN, linux & windows web hosting, and VPS hosting--that all protect and promote its customers' privacy, security, and freedom. Contact: Kapil [email protected](949) 555-2861 SOURCE:ChangeIP.com \|\| VPN and VPS Provider ChangeIP Starts Accepting Bitcoin and Alipay: Due To Popular Demand in Mainland China, ChangeIP Has Enhanced the Company's Transactional Capability to Accept Alipay MIAMI, FL / ACCESSWIRE / June 16, 2016 /ChangeIP.comnow accepts for payment both the cryptographic currency Bitcoin and China's leading third-party online payment solution, Alipay. "Due to popular demand and to serve the rapidly growing market in mainland China, ChangeIP has enhanced the company's transactional capability to accept Alipay," said ChangeIP General Manager Kapil Jain. Alipay works like an escrow service, solving the issue of settlement risk in China. Bitcoin, which utilizes SHA-256 encryption for both its Proof-of-Work (PoW) system and transaction verification, goes hand-in-hand with ChangeIP's focus on privacy and security. "The world faces complex technological privacy and security issues and all of ChangeIP's solutions--and now, payment methods--protect and promote our customers privacy, security, and freedom," said Jain. To that effect, ChangeIP recently launched aVirtual Private Network (VPN) servicethat provides a secure tunnel between its clients and the Internet with super-strong encryption. For more information, please visitchangeip.com. About ChangeIP: ChangeIP is the rockstar, low-cost and high-touch web host. ChangeIP specializes in solutions--VPN, linux & windows web hosting, and VPS hosting--that all protect and promote its customers' privacy, security, and freedom. Contact: Kapil [email protected](949) 555-2861 SOURCE:ChangeIP.com \|\| VPN and VPS Provider ChangeIP Starts Accepting Bitcoin and Alipay: Due To Popular Demand in Mainland China, ChangeIP Has Enhanced the Company's Transactional Capability to Accept Alipay MIAMI, FL / ACCESSWIRE / June 16, 2016 / ChangeIP.com now accepts for payment both the cryptographic currency Bitcoin and China's leading third-party online payment solution, Alipay. "Due to popular demand and to serve the rapidly growing market in mainland China, ChangeIP has enhanced the company's transactional capability to accept Alipay," said ChangeIP General Manager Kapil Jain. Alipay works like an escrow service, solving the issue of settlement risk in China. Bitcoin, which utilizes SHA-256 encryption for both its Proof-of-Work (PoW) system and transaction verification, goes hand-in-hand with ChangeIP's focus on privacy and security. "The world faces complex technological privacy and security issues and all of ChangeIP's solutions--and now, payment methods--protect and promote our customers privacy, security, and freedom," said Jain. To that effect, ChangeIP recently launched a Virtual Private Network (VPN) service that provides a secure tunnel between its clients and the Internet with super-strong encryption. For more information, please visit changeip.com . About ChangeIP: ChangeIP is the rockstar, low-cost and high-touch web host. ChangeIP specializes in solutions--VPN, linux & windows web hosting, and VPS hosting--that all protect and promote its customers' privacy, security, and freedom. Contact: Kapil Jain [email protected] (949) 555-2861 SOURCE: ChangeIP.com \|\| 4 Ways to Raise a Philanthropic Kid: When parents teach money lessons to their children , it's a good time to incorporate the idea of charitable giving. Many children are naturally compassionate and there are ways parents can guide those thoughtful impulses. Experts in the philanthropic sector say parents can start at a very early age to encourage a charitable mindset in kids, even before children fully understand the concept. Jacob Harold, president and chief executive officer at GuideStar, which collects and presents information on U.S. nonprofit companies, says his 14-month-old son is starting to show signs of generosity, which he and his wife are trying to encourage. [See: 9 Ways to Harness the Growth of Latin America .] "In the last few weeks, he will take some of the food that my wife and I give him, and he tries to give some of it back to us. We always try to accept and celebrate that generosity that he is starting to exhibit," Harold says. As children grow, there are ways to encourage giving , and experts offer age-appropriate tips on how parents can raise a philanthropic child. Communication. Talking about what children may see in their daily life is a good way to teach them how to connect their world and charitable acts. Peter Borish, chief strategist with Quad Group and founding member of the Robin Hood Foundation, which works with families in New York's poorest neighborhoods, says when families volunteer, particularly when there is interaction between volunteers and those being served, it's important to talk about the experience. "Say if you serve at a soup kitchen, you can facilitate a discussion. Ask, 'what did you see and learn?' One shouldn't be embarrassed or uncomfortable in a situation with people who are different from you or who are in less-fortunate circumstances. If you don't speak about something, it eventually becomes unspeakable," Borish says. Harold says some parents might only point out problems that need to be addressed, such as homelessness, but philanthropy also looks at the good people have done to benefit others. He says visiting art or science museums are a great way to talk about the people who built them and the need for that type of philanthropy. "Those are chances to educate in general, but also to help kids to understand that there are problems and opportunities, and it takes human action and human resources to address those problems and capture those opportunities," he says. Time, treasury, talent. Stacey Rago, executive director of Chicago Charity Challenge, which teams businesses with charities to support employee giving, says philanthropy comes in three forms -- donating time through volunteering, donating money or donating skills -- and they all have value. Story continues "When you're 5 what do you have to offer? You offer your time. And believe me, seniors (at nursing homes) think kids are the best thing ever. Now that my kids are teens ... we've talked about the talent piece. My kids sing carols at the hospital," for instance, Rago says. Lisa Petersen, volunteer manager at Horizons for Youth, a Chicago-based social service agency, says even kindergarteners can volunteer time, which shows them that their time is valuable as a resource. Age-appropriate activities help children tie what they are doing with the cause. Rago says when it comes to volunteering, it's important to do it repetitively so the lessons sink in. [See: 8 Soaring Stocks That Suffered the Big Bounce .] Parents can also talk about when it's appropriate to donate time, treasury or talent, as not every action is desirable at the same time. Rago says sometimes volunteers are helpful, while other times nonprofit organizations can spend the money more efficiently. Make it fun . Bringing friends can also make volunteering fun, Petersen says. This way children don't feel like they're by themselves, and older kids don't feel like they're stuck with parents. "If they're doing it with a friend, they're bonding and building that relationship. It seems more fun than it would be by itself," she says. Parents can encourage kids to research topics, including which organizations are doing good work, how to find them and how to decide if the organization is a good fit, Harold says. "Making the world better is often fun. And it can be really interesting, too," he says. "We can capture not just compassion, but also capture curiosity." Harold says websites like Volunteermatch.org are helpful for people seeking volunteer opportunities because nonprofits post what they need. The website has a filter for kids' activities, along with other filters. Let them choose . Once children have had a few experiences volunteering, they may want to choose their own causes, Borish says. Choosing their own charities is not unlike the way parents let children choose their own hobbies. "It's similar to, when you're young, asking your child, do you like basketball, do you like baseball or ice skating. You're sort of indifferent to it, as long as they're doing something that they like, you're happy," he says. Parents who give allowances can start three money jars labeled spend, save, donate, and in the beginning parents may control how to divide resources. But as the child ages, Harold says letting him or her decide how much to put in and where to spend it gives the child some control. [Read: Bitcoin's Novelty is Spent .] "There's a sense of agency, so it's not put upon them. Parents (should) suggest and provide framework, but figure out ways to have the kid own that sense of choice," he says. More From US News & World Report 11 Ways President Trump's Tax Plan Could Affect Americans 8 Easy Ways to Make Money 10 Costs You Can Eliminate in Retirement View comments \|\| 4 Ways to Raise a Philanthropic Kid: When parents teach money lessons to their children , it's a good time to incorporate the idea of charitable giving. Many children are naturally compassionate and there are ways parents can guide those thoughtful impulses. Experts in the philanthropic sector say parents can start at a very early age to encourage a charitable mindset in kids, even before children fully understand the concept. Jacob Harold, president and chief executive officer at GuideStar, which collects and presents information on U.S. nonprofit companies, says his 14-month-old son is starting to show signs of generosity, which he and his wife are trying to encourage. [See: 9 Ways to Harness the Growth of Latin America .] "In the last few weeks, he will take some of the food that my wife and I give him, and he tries to give some of it back to us. We always try to accept and celebrate that generosity that he is starting to exhibit," Harold says. As children grow, there are ways to encourage giving , and experts offer age-appropriate tips on how parents can raise a philanthropic child. Communication. Talking about what children may see in their daily life is a good way to teach them how to connect their world and charitable acts. Peter Borish, chief strategist with Quad Group and founding member of the Robin Hood Foundation, which works with families in New York's poorest neighborhoods, says when families volunteer, particularly when there is interaction between volunteers and those being served, it's important to talk about the experience. "Say if you serve at a soup kitchen, you can facilitate a discussion. Ask, 'what did you see and learn?' One shouldn't be embarrassed or uncomfortable in a situation with people who are different from you or who are in less-fortunate circumstances. If you don't speak about something, it eventually becomes unspeakable," Borish says. Harold says some parents might only point out problems that need to be addressed, such as homelessness, but philanthropy also looks at the good people have done to benefit others. He says visiting art or science museums are a great way to talk about the people who built them and the need for that type of philanthropy. "Those are chances to educate in general, but also to help kids to understand that there are problems and opportunities, and it takes human action and human resources to address those problems and capture those opportunities," he says. Time, treasury, talent. Stacey Rago, executive director of Chicago Charity Challenge, which teams businesses with charities to support employee giving, says philanthropy comes in three forms -- donating time through volunteering, donating money or donating skills -- and they all have value. Story continues "When you're 5 what do you have to offer? You offer your time. And believe me, seniors (at nursing homes) think kids are the best thing ever. Now that my kids are teens ... we've talked about the talent piece. My kids sing carols at the hospital," for instance, Rago says. Lisa Petersen, volunteer manager at Horizons for Youth, a Chicago-based social service agency, says even kindergarteners can volunteer time, which shows them that their time is valuable as a resource. Age-appropriate activities help children tie what they are doing with the cause. Rago says when it comes to volunteering, it's important to do it repetitively so the lessons sink in. [See: 8 Soaring Stocks That Suffered the Big Bounce .] Parents can also talk about when it's appropriate to donate time, treasury or talent, as not every action is desirable at the same time. Rago says sometimes volunteers are helpful, while other times nonprofit organizations can spend the money more efficiently. Make it fun . Bringing friends can also make volunteering fun, Petersen says. This way children don't feel like they're by themselves, and older kids don't feel like they're stuck with parents. "If they're doing it with a friend, they're bonding and building that relationship. It seems more fun than it would be by itself," she says. Parents can encourage kids to research topics, including which organizations are doing good work, how to find them and how to decide if the organization is a good fit, Harold says. "Making the world better is often fun. And it can be really interesting, too," he says. "We can capture not just compassion, but also capture curiosity." Harold says websites like Volunteermatch.org are helpful for people seeking volunteer opportunities because nonprofits post what they need. The website has a filter for kids' activities, along with other filters. Let them choose . Once children have had a few experiences volunteering, they may want to choose their own causes, Borish says. Choosing their own charities is not unlike the way parents let children choose their own hobbies. "It's similar to, when you're young, asking your child, do you like basketball, do you like baseball or ice skating. You're sort of indifferent to it, as long as they're doing something that they like, you're happy," he says. Parents who give allowances can start three money jars labeled spend, save, donate, and in the beginning parents may control how to divide resources. But as the child ages, Harold says letting him or her decide how much to put in and where to spend it gives the child some control. [Read: Bitcoin's Novelty is Spent .] "There's a sense of agency, so it's not put upon them. Parents (should) suggest and provide framework, but figure out ways to have the kid own that sense of choice," he says. More From US News & World Report 11 Ways President Trump's Tax Plan Could Affect Americans 8 Easy Ways to Make Money 10 Costs You Can Eliminate in Retirement View comments \|\| Virtual Summit Launches Free Gold Investment Online Education Event Starting June 16th, 2016: BOYNTON BEACH, FL / ACCESSWIRE / June 14, 2016 /Gold buyers, investors, and individuals in the financial field can now register to attend TheGold Summitfree online event taking place on June 16th-18th, 2016. This information rich resource is designed to assist those interested in investing for their future during these uncertain times. Many people have become frustrated with the process of trying to ensure a sound financial future for themselves and their families. Those folks will be amazed to discover they have the ability to provide the future they desire with the release of 360summits.com online educational events. "In the past, single income families were able to survive; that just isn't possible in this day and age," explains George Shepherd, founder of the online portal 360summits.com. "People are worried about the economy, and rightfully so. We see countries around the world in various stages of collapse, or recovery, and they do not paint a picture of a future that people want." Shepherd further stated, "Virtual online events, such as The Gold Summit, are quickly becoming the new industry standard for dispersing educational resources to the multitudes of people interested in learning, and we are pleased to be at the cutting edge of this innovative connectivity." Attendees to The Gold Summit will have the opportunity to experience 20 expert presentations, such as: Precious metals and preparedness, How to hide precious metals in plain sight, How to choose the right metals to invest in, When to buy and sell for maximum profit,Numismatic coins; fact vs fiction, Government confiscation, taxation and travel, Bitcoin and crypto-currency, How to read the gold & silver charts right, How to create a local or regional barter economy and much more. The experts featured at The Gold Summit include: Stan Grist, Stefan Gleason, Bob Rinear, George Shepherd, Franklin Sanders, Kenneth Gerbino, Jim Puplava, David Morgan, Josh Phair, Jim Wyckoff, Max Wright, Annette Riggs, G. Edward Griffin, Rachel Fitch, Eric Goldsmith, Mitch Michaels, Chris Olsen, Pastor Jason Young, Dan Nance, Pete Fettig. All those interested in attending can register for free, view the schedule of presenters, topics, descriptions and more athttp://360summits.com/gold-summit/. Learn more about 360Summits and view their other online virtual events calendar at:http://www.360summits.com/. Contact 360Summits.com: George [email protected] Box 9 Boynton Beach, FL 33425 SOURCE:360Summits.com \|\| Jersey-based asset manager acquires Swedish issuer of bitcoin ETN: By Gertrude Chavez-Dreyfuss NEW YORK, June 13 (Reuters) - Asset management firm Global Advisors (Jersey) Limited said on Tuesday it has acquired XBT Provider, a Swedish publicly-listed company that launched the world's first bitcoin-backed exchange traded note. Global Advisors' co-founder Daniel Masters declined to disclose the terms of the acquisition, but said the company has taken over XBT's two ETN products called Bitcoin Tracker One and Bitcoin Tracker Euro. Both ETNs are available on the NASDAQ/OMX in Stockholm and are accessible in 179 countries. "It can be hard for some investors to access the bitcoin market," said Masters in an interview with Reuters on Tuesday. "This gives one-click access to bitcoin by anyone on an electronic trading platform that can access Nasdaq's global marketplace." Global Advisors is based on the Island of Jersey, the largest of the Channel Islands and a self-governing British Crown dependency. An ETN is a debt security with a maturity date, backed by the credit of the issuer. It's designed to provide investors access to the returns of a market benchmark. The acquisition came after the KnC, a Swedish bitcoin miner, filed for bankruptcy about two weeks ago, Masters said. KnC was the majority shareholder of XBT and as part of the miner's wind-up process, XBT was offered for sale to interested parties. KnC, which had raised $32 million a few years ago, had struggled as the Chinese have found a way to mine bitcoins with tremendous power at a lower cost. Bitcoin is created through a "mining" process where a computer's resources are used to perform millions of calculations. Once mined, bitcoins can be stored in an online wallet, traded on an online exchange, or used to buy goods and services. "I was on holiday with my family when we heard about XBT, I flew to Stockholm the next day and stayed there for seven days," said Masters. Masters used to run the energy trading desk in the 1990s at JP Morgan, before striking on his own to co-found Global Advisors. The firm's Bitcoin Investment Program was up 48 percent so far this year. Story continues The addition of the ETNs lifted Global Advisors' assets under management to $20 million. Trading in the two ETNs were suspended for two weeks after KnC filed for bankruptcy, and both resumed market activity on Tuesday. On the Nasdaq OMX Nordic Exchange, Bitcoin Tracker One and Bitcoin Tracker Euro were two of the biggest advancers on Tuesday, rising 42.78 percent and 43.89 percent respectively. Bitcoin hit $725 on Monday, boosted by Chinese demand. By midday on Tuesday, it was at $675.42, down 4.1 percent on the day. (Reporting by Gertrude Chavez-Dreyfuss; Editing by David Gregorio) \|\| Jersey-based asset manager acquires Swedish issuer of bitcoin ETN: By Gertrude Chavez-Dreyfuss NEW YORK, June 13 (Reuters) - Asset management firm Global Advisors (Jersey) Limited said on Tuesday it has acquired XBT Provider, a Swedish publicly-listed company that launched the world's first bitcoin-backed exchange traded note. Global Advisors' co-founder Daniel Masters declined to disclose the terms of the acquisition, but said the company has taken over XBT's two ETN products called Bitcoin Tracker One and Bitcoin Tracker Euro. Both ETNs are available on the NASDAQ/OMX in Stockholm and are accessible in 179 countries. "It can be hard for some investors to access the bitcoin market," said Masters in an interview with Reuters on Tuesday. "This gives one-click access to bitcoin by anyone on an electronic trading platform that can access Nasdaq's global marketplace." Global Advisors is based on the Island of Jersey, the largest of the Channel Islands and a self-governing British Crown dependency. An ETN is a debt security with a maturity date, backed by the credit of the issuer. It's designed to provide investors access to the returns of a market benchmark. The acquisition came after the KnC, a Swedish bitcoin miner, filed for bankruptcy about two weeks ago, Masters said. KnC was the majority shareholder of XBT and as part of the miner's wind-up process, XBT was offered for sale to interested parties. KnC, which had raised $32 million a few years ago, had struggled as the Chinese have found a way to mine bitcoins with tremendous power at a lower cost. Bitcoin is created through a "mining" process where a computer's resources are used to perform millions of calculations. Once mined, bitcoins can be stored in an online wallet, traded on an online exchange, or used to buy goods and services. "I was on holiday with my family when we heard about XBT, I flew to Stockholm the next day and stayed there for seven days," said Masters. Masters used to run the energy trading desk in the 1990s at JP Morgan, before striking on his own to co-found Global Advisors. The firm's Bitcoin Investment Program was up 48 percent so far this year. The addition of the ETNs lifted Global Advisors' assets under management to $20 million. Trading in the two ETNs were suspended for two weeks after KnC filed for bankruptcy, and both resumed market activity on Tuesday. On the Nasdaq OMX Nordic Exchange, Bitcoin Tracker One and Bitcoin Tracker Euro were two of the biggest advancers on Tuesday, rising 42.78 percent and 43.89 percent respectively. Bitcoin hit $725 on Monday, boosted by Chinese demand. By midday on Tuesday, it was at $675.42, down 4.1 percent on the day. (Reporting by Gertrude Chavez-Dreyfuss; Editing by David Gregorio) \|\| 7 Questions and Answers About the Economy: Investors are hit with new headlines every day: a weak jobs report, rising gasoline prices , unconventional election politics. It can be tough to make sense of the barrage of constantly changing news and events. Here is a look at seven key questions investors need to consider now. Are dialed-down forecasts for the U.S. economy a concern? Slower economic growth is, of course, a worry. "Actually, it's the whole ball game," says Guy LeBas, chief fixed income strategist at Janney Montgomery Scott in Philadelphia. "The real story, however, is much longer term than 2016. With population growth running about one third the rate it was in the 1980s and 1990s, and productivity gains still slowing, it's likely economic growth will only average 1.6 to 1.8 percent, even in relatively good times. In this context, 2016 is actually one of those 'good times,' when the economy is neither running too hot nor too cold." [See: The 10 Best REIT ETFs on the Market .] How could Federal Reserve rate hikes impact the economy this year? The surprisingly weak May employment report, which revealed only 38,000 new jobs were added last month, pushed the odds of a Fed rate increase at this week's meeting to less than 4 percent, according to Fed funds futures markets. Analysts are now pointing to the July Fed meeting as the next potential window for an interest rate increase. "If the jobs report proves to be an outlier, and we have a decent return next month, we are more likely to see a rate hike in July. We put that at about a 50-50 chance right now," says Hank Smith, chief investment officer at Haverford Trust. Even if the Fed hikes rates once or twice this year, it won't affect lending or economic activity, and won't be that big of a deal, Smith says. "The lower-for-longer environment will continue along with sub-average growth and a low probability of recession," he says. "Those themes remain in place with or without any rate hikes." What are the positive factors for the U.S. economy in the second half? There are bright spots. Consumer spending continues to grow and housing also continues to improve, says Brad McMillan, chief investment officer for Commonwealth Financial Network. "Strong underlying trends should support continued growth in both of these areas, with wages and household formation doing well. With consumers starting to spend, despite the poor recent job trends, the possibility of an acceleration in growth is real." Story continues Another shift from last year is the weaker U.S. dollar, which can offer a positive economic boost. "The weaker dollar should be a tailwind for exports and manufacturing after it was a big headwind from 2014 through early 2016," says John Canally, vice president at LPL Financial. What could the presidential election mean for the stock market? A market can deal with good news and bad news because it can price certainty, says John Conlon, chief equity strategist at People's United Wealth Management. "It does not like uncertainty. "This election is generating more uncertainty than any other in my lifetime because the range of candidate policies is wider than it has even been," McMillan says. "Rather than a typical center-left, center-right pair of candidates, you have one candidate being pulled to the left and another committed to policies outside the normal range. Business is reacting rationally by holding off decisions until more certainty is available -- a trend which is unlikely to subside until the election, and maybe not then." Heading into the July party conventions rhetoric remains high, "which makes it too early to truly have an understanding of each candidate's impact on the economy or sectors. This could all change on a dime, though, if the election results in a unified Congress and president," Smith says. [See: 9 Ways to Harness the Growth of Latin America .] Control of Congress will be important, Canally says. "The market has lately favored divided government, and if Mrs. Clinton wins, the Democrats are likely to retake the Senate, but unless it is a landslide win for Clinton, the GOP should hold the House, maintaining a divided government." What risks does the economy face in the second half? Risks for the economy are always present and can be either known risks or those that are unforeseen, says Bill Northey, a chief investment officer with The Private Client Group of U.S. Bank based in Helena, Montana. Northey lists the top known risk as capital market dislocation following a potential U.K. vote scheduled for next week that could have it exiting the European Union. Other risks include the loss of business and/or consumer confidence due to an acrimonious election cycle, which results in spending and investment paralysis, as well as a policy error by the Federal Reserve, he says. Where do analysts see the Standard & Poor's 500 index at the end of the year? Brace for choppy, back-and-forth action in the stock market. The Private Client Group of U.S. Bank pegs the year-end price target for the S&P 500 near current levels at 2,100. "Election cycle dynamics introduce a degree of uncertainty for the markets that will likely generate more volatility and keep a lid on near-term performance. We expect the stocks to trade in a sideways range until after the election, which will remove uncertainty," Northey says. "Additionally, the focus will shift to 2017 earnings where the resumption of earnings growth can provide some buoyancy to the equity market," he says What are the best money moves for investors? This is a year in which the markets may grind to a moderate single-digit returns, Smith says. "We aren't looking for huge returns on equities so investors should position themselves defensively," he says. "We like names that are blue-chip companies with better-than-bond dividends. You can still find plenty of names that have dividends that beat the 10-year yield." Stay focused on your long-term objectives and use the current environment as a check for your appetite for risk, Conlon says. He agrees that investor expectations should be adjusted down to single-digit returns due to slow economic growth and an average market valuation that is not cheap. [Read: Bitcoin's Novelty is Spent .] Conlon likes the energy and industrial sectors right now. "The energy sector due to the recovery in oil prices and the approaching crossing of supply with demand. Industrials due to low valuations, high cash flow, and attractive dividend yields," he says. More From US News & World Report The 9 Best Investors of All Time 8 Easy Ways to Make Money 11 Stocks That Donald Trump Loves \|\| 7 Questions and Answers About the Economy: Investors are hit with new headlines every day: a weak jobs report, rising gasoline prices , unconventional election politics. It can be tough to make sense of the barrage of constantly changing news and events. Here is a look at seven key questions investors need to consider now. Are dialed-down forecasts for the U.S. economy a concern? Slower economic growth is, of course, a worry. "Actually, it's the whole ball game," says Guy LeBas, chief fixed income strategist at Janney Montgomery Scott in Philadelphia. "The real story, however, is much longer term than 2016. With population growth running about one third the rate it was in the 1980s and 1990s, and productivity gains still slowing, it's likely economic growth will only average 1.6 to 1.8 percent, even in relatively good times. In this context, 2016 is actually one of those 'good times,' when the economy is neither running too hot nor too cold." [See: The 10 Best REIT ETFs on the Market .] How could Federal Reserve rate hikes impact the economy this year? The surprisingly weak May employment report, which revealed only 38,000 new jobs were added last month, pushed the odds of a Fed rate increase at this week's meeting to less than 4 percent, according to Fed funds futures markets. Analysts are now pointing to the July Fed meeting as the next potential window for an interest rate increase. "If the jobs report proves to be an outlier, and we have a decent return next month, we are more likely to see a rate hike in July. We put that at about a 50-50 chance right now," says Hank Smith, chief investment officer at Haverford Trust. Even if the Fed hikes rates once or twice this year, it won't affect lending or economic activity, and won't be that big of a deal, Smith says. "The lower-for-longer environment will continue along with sub-average growth and a low probability of recession," he says. "Those themes remain in place with or without any rate hikes." What are the positive factors for the U.S. economy in the second half? There are bright spots. Consumer spending continues to grow and housing also continues to improve, says Brad McMillan, chief investment officer for Commonwealth Financial Network. "Strong underlying trends should support continued growth in both of these areas, with wages and household formation doing well. With consumers starting to spend, despite the poor recent job trends, the possibility of an acceleration in growth is real." Story continues Another shift from last year is the weaker U.S. dollar, which can offer a positive economic boost. "The weaker dollar should be a tailwind for exports and manufacturing after it was a big headwind from 2014 through early 2016," says John Canally, vice president at LPL Financial. What could the presidential election mean for the stock market? A market can deal with good news and bad news because it can price certainty, says John Conlon, chief equity strategist at People's United Wealth Management. "It does not like uncertainty. "This election is generating more uncertainty than any other in my lifetime because the range of candidate policies is wider than it has even been," McMillan says. "Rather than a typical center-left, center-right pair of candidates, you have one candidate being pulled to the left and another committed to policies outside the normal range. Business is reacting rationally by holding off decisions until more certainty is available -- a trend which is unlikely to subside until the election, and maybe not then." Heading into the July party conventions rhetoric remains high, "which makes it too early to truly have an understanding of each candidate's impact on the economy or sectors. This could all change on a dime, though, if the election results in a unified Congress and president," Smith says. [See: 9 Ways to Harness the Growth of Latin America .] Control of Congress will be important, Canally says. "The market has lately favored divided government, and if Mrs. Clinton wins, the Democrats are likely to retake the Senate, but unless it is a landslide win for Clinton, the GOP should hold the House, maintaining a divided government." What risks does the economy face in the second half? Risks for the economy are always present and can be either known risks or those that are unforeseen, says Bill Northey, a chief investment officer with The Private Client Group of U.S. Bank based in Helena, Montana. Northey lists the top known risk as capital market dislocation following a potential U.K. vote scheduled for next week that could have it exiting the European Union. Other risks include the loss of business and/or consumer confidence due to an acrimonious election cycle, which results in spending and investment paralysis, as well as a policy error by the Federal Reserve, he says. Where do analysts see the Standard & Poor's 500 index at the end of the year? Brace for choppy, back-and-forth action in the stock market. The Private Client Group of U.S. Bank pegs the year-end price target for the S&P 500 near current levels at 2,100. "Election cycle dynamics introduce a degree of uncertainty for the markets that will likely generate more volatility and keep a lid on near-term performance. We expect the stocks to trade in a sideways range until after the election, which will remove uncertainty," Northey says. "Additionally, the focus will shift to 2017 earnings where the resumption of earnings growth can provide some buoyancy to the equity market," he says What are the best money moves for investors? This is a year in which the markets may grind to a moderate single-digit returns, Smith says. "We aren't looking for huge returns on equities so investors should position themselves defensively," he says. "We like names that are blue-chip companies with better-than-bond dividends. You can still find plenty of names that have dividends that beat the 10-year yield." Stay focused on your long-term objectives and use the current environment as a check for your appetite for risk, Conlon says. He agrees that investor expectations should be adjusted down to single-digit returns due to slow economic growth and an average market valuation that is not cheap. [Read: Bitcoin's Novelty is Spent .] Conlon likes the energy and industrial sectors right now. "The energy sector due to the recovery in oil prices and the approaching crossing of supply with demand. Industrials due to low valuations, high cash flow, and attractive dividend yields," he says. More From US News & World Report The 9 Best Investors of All Time 8 Easy Ways to Make Money 11 Stocks That Donald Trump Loves \|\| New York approves Ripple Lab's application for bitcoin license: By Patrick Rucker and Suzanne Barlyn WASHINGTON (Reuters) - New York state's financial regulator on Monday approved a license for bitcoin company Ripple Labs Inc, allowing it to offer digital currency services in the state. The New York State Department of Financial Services said the company had cleared a review of anti-money laundering, capitalization, consumer protection, and cyber-security standards. "DFS is pleased to continue to foster the growth of the New York virtual currency marketplace," Acting Department of Financial Services Superintendent Maria T. Vullo said in a statement. Bitcoin is a Web-based "cryptocurrency" that enables users to move money around the world quickly and anonymously without the need for third-party verification. Despite being championed by some as the digital money of the future, it is often dismissed as a currency that is too volatile to invest in. Ripple's service and currency, known as XRP, is for financial institutions and companies, such as banks, that provide liquidity for foreign exchanges. Last year, New York became the first U.S. state to issue extensive rules for virtual currency companies. The guidelines, aimed at consumer protection and prevention of money laundering, require companies to obtain what is known in the state as a "BitLicense." Ripple filed for the license under its corporate name, XRP II LLC, a venture backed by Andreessen Horowitz, Google Ventures and IDG Capital Partners. (Reporting By Patrick Rucker and Suzanne Barlyn; Editing by Alan Crosby) \|\| New York approves Ripple Lab's application for bitcoin license: By Patrick Rucker and Suzanne Barlyn WASHINGTON (Reuters) - New York state's financial regulator on Monday approved a license for bitcoin company Ripple Labs Inc, allowing it to offer digital currency services in the state. The New York State Department of Financial Services said the company had cleared a review of anti-money laundering, capitalization, consumer protection, and cyber-security standards. "DFS is pleased to continue to foster the growth of the New York virtual currency marketplace," Acting Department of Financial Services Superintendent Maria T. Vullo said in a statement. Bitcoin is a Web-based "cryptocurrency" that enables users to move money around the world quickly and anonymously without the need for third-party verification. Despite being championed by some as the digital money of the future, it is often dismissed as a currency that is too volatile to invest in. Ripple's service and currency, known as XRP, is for financial institutions and companies, such as banks, that provide liquidity for foreign exchanges. Last year, New York became the first U.S. state to issue extensive rules for virtual currency companies. The guidelines, aimed at consumer protection and prevention of money laundering, require companies to obtain what is known in the state as a "BitLicense." Ripple filed for the license under its corporate name, XRP II LLC, a venture backed by Andreessen Horowitz, Google Ventures and IDG Capital Partners. (Reporting By Patrick Rucker and Suzanne Barlyn; Editing by Alan Crosby) \|\| New York approves Ripple Lab's application for bitcoin license: By Patrick Rucker and Suzanne Barlyn WASHINGTON (Reuters) - New York state's financial regulator on Monday approved a license for bitcoin company Ripple Labs Inc, allowing it to offer digital currency services in the state. The New York State Department of Financial Services said the company had cleared a review of anti-money laundering, capitalization, consumer protection, and cyber-security standards. "DFS is pleased to continue to foster the growth of the New York virtual currency marketplace," Acting Department of Financial Services Superintendent Maria T. Vullo said in a statement. Bitcoin is a Web-based "cryptocurrency" that enables users to move money around the world quickly and anonymously without the need for third-party verification. Despite being championed by some as the digital money of the future, it is often dismissed as a currency that is too volatile to invest in. Ripple's service and currency, known as XRP, is for financial institutions and companies, such as banks, that provide liquidity for foreign exchanges. Last year, New York became the first U.S. state to issue extensive rules for virtual currency companies. The guidelines, aimed at consumer protection and prevention of money laundering, require companies to obtain what is known in the state as a "BitLicense." Ripple filed for the license under its corporate name, XRP II LLC, a venture backed by Andreessen Horowitz, Google Ventures and IDG Capital Partners. (Reporting By Patrick Rucker and Suzanne Barlyn; Editing by Alan Crosby) \|\| New York approves Ripple Lab's application for bitcoin license: By Patrick Rucker and Suzanne Barlyn WASHINGTON (Reuters) - New York state's financial regulator on Monday approved a license for bitcoin company Ripple Labs Inc, allowing it to offer digital currency services in the state. The New York State Department of Financial Services said the company had cleared a review of anti-money laundering, capitalization, consumer protection, and cyber-security standards. "DFS is pleased to continue to foster the growth of the New York virtual currency marketplace," Acting Department of Financial Services Superintendent Maria T. Vullo said in a statement. Bitcoin is a Web-based "cryptocurrency" that enables users to move money around the world quickly and anonymously without the need for third-party verification. Despite being championed by some as the digital money of the future, it is often dismissed as a currency that is too volatile to invest in. Ripple's service and currency, known as XRP, is for financial institutions and companies, such as banks, that provide liquidity for foreign exchanges. Last year, New York became the first U.S. state to issue extensive rules for virtual currency companies. The guidelines, aimed at consumer protection and prevention of money laundering, require companies to obtain what is known in the state as a "BitLicense." Ripple filed for the license under its corporate name, XRP II LLC, a venture backed by Andreessen Horowitz, Google Ventures and IDG Capital Partners. (Reporting By Patrick Rucker and Suzanne Barlyn; Editing by Alan Crosby) [Social Media Buzz] Order your secure and smart Bitcoin hardware wallet - Only 34.80 EUR https://www.ledgerwallet.com/r/4518?path=/products/1-ledger-nano … #bitcoin #btc 00:17 pic.twitter.com/t4GvoMYNFj \|\| 1 #BTC (#Bitcoin) quotes: $742.96/$745.70 #Bitstamp $718.08/$720.00 #BTCe ⇢$-27.62/$-22.96 $748.54/$749.47 #Coinbase ⇢$2.84/$6.51 \|\| Current price of Bitcoin is $755.00 \|\| #568 ImperialCoin BTC:฿0.00 USD:$0.0000022 Market Cap:$ 347.96129705 Supply:157,865,000 IPC http://dlvr.it/LZq3Ch \|\| 1 #BTC (#Bitcoin) quotes...	756.23, 763.78, 737.23, 666.65, 596.12, 623.98, 665.30, 665.12, 629.37, 655.28
Given the historical Bitcoin prices from the last 90 days, predict the next 10 daily closing prices. The historical prices are: 368.77, 373.06, 374.45, 369.95, 389.59, 386.55, 376.52, 376.62, 373.45, 376.03, 381.65, 379.65, 384.26, 391.86, 407.23, 400.18, 407.49, 416.32, 422.37, 420.79, 437.16, 438.80, 437.75, 420.74, 424.95, 424.54, 432.15, 432.52, 433.50, 437.70, 435.12, 423.99, 421.65, 410.94, 400.57, 407.71, 414.32, 413.97, 414.86, 417.13, 421.69, 411.62, 414.07, 416.44, 416.83, 417.01, 420.62, 409.55, 410.44, 413.76, 413.31, 418.09, 418.04, 416.39, 417.18, 417.95, 426.77, 424.23, 416.52, 414.82, 416.73, 417.96, 420.87, 420.90, 421.44, 424.03, 423.41, 422.74, 420.35, 419.41, 421.56, 422.48, 425.19, 423.73, 424.28, 429.71, 430.57, 427.40, 428.59, 435.51, 441.39, 449.42, 445.74, 450.28, 458.55, 461.43, 466.09, 444.69, 449.01, 455.10.	[Bitcoin Technical Analysis for 2016-04-29] Volume: 49258500, RSI (14-day): 62.47, 50-day EMA: 430.75, 200-day EMA: 389.42 [Wider Market Context] Gold Price: 1289.20, Gold RSI: 65.89 Oil Price: 45.92, Oil RSI: 69.32 [Recent News (last 7 days)] Larry Summers joins bitcoin firm as a senior advisor: Digital Currency Group is busy these days. In the last four months alone, the companyacquired the biggest bitcoin news site, CoinDesk, and along with it, the biggest bitcoin conference, Consensus; it alsogave money to Coin Center, the bitcoin industry's nonprofit advocacy group. On Thursday,DCG announced a laundry list of new investors and additions to its team, and among them is one very big name: Larry Summers. Summers, former Treasury secretary and former president of Harvard University, is joining DCG as a senior advisor. It is a reminder that Summers believes in the future of bitcoin, thecrypto-currency that many fare still skeptical about. One year ago, speaking at the Museum of American Finance,Summers was asked about bitcoinand said, "We have seen so little innovation cumulatively directed at taking the frictional costs out of the system. The notion that there’s going to be a lot of innovation and experimentation around how those frictional costs can be taken out feels like a very important kind of idea.” Digital Currency Group is an investment firm that has poured money into 72 different companies, more than two-thirds of which operate in the bitcoin space. A small portion of DCG's portfolio are companies exploring blockchain technology without bitcoin, so DCG calls itself a digital currency firm, not solely a bitcoin firm. (What is the blockchain? Watch our helpful primer video.) But it is associated primarily with bitcoin. DCG's portfolio boasts almost all of the hottest bitcoin startups, and those startups have accounted for more than 70% of all the venture capital put into bitcoin companies in total. The CEO of DCG is Barry Silbert, who in 2004 createdSecondMarket,which allowed for the trading of private-company stock, and in 2015 sold it to Nasdaq (NDAQ).In DCG's release about its news, Summers says, "Barry and his team at DCG are building an important platform with great potential to help these technologies reach mass adoption.” In the past, I have called DCG the Anheuser-Busch InBev (BUD) of the bitcoin world, but you could just as easily compare it to Barry Diller's acquisitiveInterActiveCorp (IAC), and indeed, Silbert says that DCG models itself after IAC and Berkshire Hathaway. (CoinDesk was DCG's first full acquisition, but expect more to come.) The addition of Summers, along with its new investors, supports the comparisons. In addition to bringing on Summers and respected bitcoin developer Gavin Andresen as advisors, DCG has raised a new funding round (it will not disclose the amount) from Western Union (WU), Prudential(PRU) through its investment subsidiary Gibraltar, FoxConn through its investment subsidiary HCM International, and others. But it is the involvement of Summers that may turn some heads on Wall Street. Silbert knows the value of the name. "I've gotten to know Dr. Summers over the past few years," Silbert tells Yahoo Finance, "and it has been fantastic to see his thinking about digital currency and blockchain evolve and mature." What Silbert and DCG and the rest of the bitcoin industry are hoping is that the general attitude toward bitcoin will continue to mature. -- Daniel Roberts is a writer at Yahoo Finance, covering sports business and technology. Read more: How big banks are paying lip service to the blockchain Here’s how you can invest in the blockchain Bitcoin's biggest investor just bought its biggest news site Here's a sign that PayPal is embracing Bitcoin \|\| Larry Summers joins bitcoin firm as a senior advisor: Digital Currency Group is busy these days. In the last four months alone, the company acquired the biggest bitcoin news site, CoinDesk , and along with it, the biggest bitcoin conference, Consensus; it also gave money to Coin Center , the bitcoin industry's nonprofit advocacy group. On Thursday, DCG announced a laundry list of new investors and additions to its team , and among them is one very big name: Larry Summers. Summers, former Treasury secretary and former president of Harvard University, is joining DCG as a senior advisor. It is a reminder that Summers believes in the future of bitcoin, the crypto-currency that many fare still skeptical about . One year ago, speaking at the Museum of American Finance, Summers was asked about bitcoin and said, " We have seen so little innovation cumulatively directed at taking the frictional costs out of the system. The notion that there’s going to be a lot of innovation and experimentation around how those frictional costs can be taken out feels like a very important kind of idea.” Digital Currency Group is an investment firm that has poured money into 72 different companies, more than two-thirds of which operate in the bitcoin space. A small portion of DCG's portfolio are companies exploring blockchain technology without bitcoin, so DCG calls itself a digital currency firm, not solely a bitcoin firm. ( What is the blockchain? Watch our helpful primer video .) But it is associated primarily with bitcoin. DCG's portfolio boasts almost all of the hottest bitcoin startups, and those startups have accounted for more than 70% of all the venture capital put into bitcoin companies in total. The CEO of DCG is Barry Silbert, who in 2004 created SecondMarket, which allowed for the trading of private-company stock, and in 2015 sold it to Nasdaq ( NDAQ ). In DCG's release about its news, Summers says, " Barry and his team at DCG are building an important platform with great potential to help these technologies reach mass adoption.” Story continues In the past, I have called DCG the Anheuser-Busch InBev ( BUD ) of the bitcoin world, but you could just as easily compare it to Barry Diller's acquisitive InterActiveCorp ( IAC ), and indeed, Silbert says that DCG models itself after IAC and Berkshire Hathaway. ( CoinDesk was DCG's first full acquisition , but expect more to come.) T he addition of Summers, along with its new investors, supports the comparisons. In addition to bringing on Summers and respected bitcoin developer Gavin Andresen as advisors, DCG has raised a new funding round (it will not disclose the amount) from Western Union ( WU ), Prudential ( PRU ) through its investment subsidiary Gibraltar, FoxConn through its investment subsidiary HCM International, and others. But it is the involvement of Summers that may turn some heads on Wall Street. Silbert knows the value of the name. "I've gotten to know Dr. Summers over the past few years," Silbert tells Yahoo Finance, "and it has been fantastic to see his thinking about digital currency and blockchain evolve and mature." What Silbert and DCG and the rest of the bitcoin industry are hoping is that the general attitude toward bitcoin will continue to mature. -- Daniel Roberts is a writer at Yahoo Finance, covering sports business and technology. Read more: How big banks are paying lip service to the blockchain Here’s how you can invest in the blockchain Bitcoin's biggest investor just bought its biggest news site Here's a sign that PayPal is embracing Bitcoin \|\| Benton Capital Increases Land Package at Wisa Lake Lithium Project: THUNDER BAY, ONTARIO--(Marketwired - Apr 26, 2016) - Benton Capital Corp. (TSX VENTURE:BTC) ("Benton" or "the Company") would like to announce that it has acquired a 100% interest through staking in an additional 30 units in 2 claims at its Wisa Lake Lithium project located 80km east of Fort Frances, Ontario (see BTC PR April 19, 2016). The property is connected to Highway 11 (Trans Canada), located 65km north, via an all-weather road that crosses the centre of the project. The land position was increased in order to cover an additional spodumene-bearing pegmatitic dyke located approximately 900m south of the Wisa Lake zone. Selective grab samples collected from the zones have been submitted to the laboratory for analysis. As indicated in the Company's PR dated April 19, 2016, the property covers the Wisa Lake deposit with a historical resource of 330,000 tonnes grading 1.15% Li2O (Lexindin Gold Mines Ltd., Manager's Report, 1958; Ontario Geological Survey, Open File Report 6285, Report of Activities 2012). In 1956, Lexindin completed a total of 20 drill holes (packsack and AQ-sized core) over a strike length of 335m and to a depth of approximately 65m to outline the Wisa Lake lithium mineralization. The diamond drill log of the most easterly hole intersected 6.4m containing 20% of the lithium-bearing mineral spodumene suggesting the mineralization is open at depth and to the east. It should be noted that the historical resource estimate for the deposit was calculated prior to CIM National Instrument 43-101 guidelines and as such should only be considered from a historical point of view and not relied upon. A qualified person has not completed sufficient work to classify the historical estimates as current mineral resources. Further diamond drill programs are required to bring the mineralization into a proper NI 43-101 compliant category. The Company has recently applied to change its name to Alset Energy Corp. and in is the process of applying for a new trading symbol. The Company has also granted 2,395,000 options to officers, directors and consultants of the company at a price of 7 cents for a period of 5 years. All of the above transactions are subject to TSX.V and regulatory approvals. Benton Capital is well funded with approximately $1 million in cash. Clinton Barr (P.Geo.), V.P. Exploration for Benton Capital Corp., is the qualified person responsible for this release and has reviewed and approved all scientific and technical data and disclosures in this release. On behalf of the Board of Directors of Benton Capital Corp, Stephen Stares, President THE TSX VENTURE EXCHANGE HAS NOT REVIEWED AND DOES NOT ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE. The information contained herein contains "forward-looking statements" within the meaning of applicable securities legislation. Forward-looking statements relate to information that is based on assumptions of management, forecasts of future results, and estimates of amounts not yet determinable. Any statements that express predictions, expectations, beliefs, plans, projections, objectives, assumptions or future events or performance are not statements of historical fact and may be "forward-looking statements." Forward-looking statements are subject to a variety of risks and uncertainties which could cause actual events or results to differ from those reflected in the forward-looking statements, including, without limitation: risks related to failure to obtain adequate financing on a timely basis and on acceptable terms; risks related to the outcome of legal proceedings; political and regulatory risks associated with mining and exploration; risks related to the maintenance of stock exchange listings; risks related to environmental regulation and liability; the potential for delays in exploration or development activities or the completion of feasibility studies; the uncertainty of profitability; risks and uncertainties relating to the interpretation of drill results, the geology, grade and continuity of mineral deposits; risks related to the inherent uncertainty of production and cost estimates and the potential for unexpected costs and expenses; results of prefeasibility and feasibility studies, and the possibility that future exploration, development or mining results will not be consistent with the Company's expectations; risks related to gold price and other commodity price fluctuations; and other risks and uncertainties related to the Company's prospects, properties and business detailed elsewhere in the Company's disclosure record. Should one or more of these risks and uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those described in forward-looking statements. Investors are cautioned against attributing undue certainty to forward-looking statements. These forward looking statements are made as of the date hereof and the Company does not assume any obligation to update or revise them to reflect new events or circumstances. Actual events or results could differ materially from the Company's expectations or projections. \|\| Benton Capital Increases Land Package at Wisa Lake Lithium Project: THUNDER BAY, ONTARIO--(Marketwired - Apr 26, 2016) - Benton Capital Corp. (TSX VENTURE:BTC) ("Benton" or "the Company") would like to announce that it has acquired a 100% interest through staking in an additional 30 units in 2 claims at its Wisa Lake Lithium project located 80km east of Fort Frances, Ontario (see BTC PR April 19, 2016). The property is connected to Highway 11 (Trans Canada), located 65km north, via an all-weather road that crosses the centre of the project. The land position was increased in order to cover an additional spodumene-bearing pegmatitic dyke located approximately 900m south of the Wisa Lake zone. Selective grab samples collected from the zones have been submitted to the laboratory for analysis. As indicated in the Company's PR dated April 19, 2016, the property covers the Wisa Lake deposit with a historical resource of 330,000 tonnes grading 1.15% Li 2 O (Lexindin Gold Mines Ltd., Manager's Report, 1958; Ontario Geological Survey, Open File Report 6285, Report of Activities 2012). In 1956, Lexindin completed a total of 20 drill holes (packsack and AQ-sized core) over a strike length of 335m and to a depth of approximately 65m to outline the Wisa Lake lithium mineralization. The diamond drill log of the most easterly hole intersected 6.4m containing 20% of the lithium-bearing mineral spodumene suggesting the mineralization is open at depth and to the east. It should be noted that the historical resource estimate for the deposit was calculated prior to CIM National Instrument 43-101 guidelines and as such should only be considered from a historical point of view and not relied upon. A qualified person has not completed sufficient work to classify the historical estimates as current mineral resources. Further diamond drill programs are required to bring the mineralization into a proper NI 43-101 compliant category. The Company has recently applied to change its name to Alset Energy Corp. and in is the process of applying for a new trading symbol. The Company has also granted 2,395,000 options to officers, directors and consultants of the company at a price of 7 cents for a period of 5 years. Story continues All of the above transactions are subject to TSX.V and regulatory approvals. Benton Capital is well funded with approximately $1 million in cash. Clinton Barr (P.Geo.), V.P. Exploration for Benton Capital Corp., is the qualified person responsible for this release and has reviewed and approved all scientific and technical data and disclosures in this release. On behalf of the Board of Directors of Benton Capital Corp, Stephen Stares, President THE TSX VENTURE EXCHANGE HAS NOT REVIEWED AND DOES NOT ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE. The information contained herein contains "forward-looking statements" within the meaning of applicable securities legislation. Forward-looking statements relate to information that is based on assumptions of management, forecasts of future results, and estimates of amounts not yet determinable. Any statements that express predictions, expectations, beliefs, plans, projections, objectives, assumptions or future events or performance are not statements of historical fact and may be "forward-looking statements." Forward-looking statements are subject to a variety of risks and uncertainties which could cause actual events or results to differ from those reflected in the forward-looking statements, including, without limitation: risks related to failure to obtain adequate financing on a timely basis and on acceptable terms; risks related to the outcome of legal proceedings; political and regulatory risks associated with mining and exploration; risks related to the maintenance of stock exchange listings; risks related to environmental regulation and liability; the potential for delays in exploration or development activities or the completion of feasibility studies; the uncertainty of profitability; risks and uncertainties relating to the interpretation of drill results, the geology, grade and continuity of mineral deposits; risks related to the inherent uncertainty of production and cost estimates and the potential for unexpected costs and expenses; results of prefeasibility and feasibility studies, and the possibility that future exploration, development or mining results will not be consistent with the Company's expectations; risks related to gold price and other commodity price fluctuations; and other risks and uncertainties related to the Company's prospects, properties and business detailed elsewhere in the Company's disclosure record. Should one or more of these risks and uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those described in forward-looking statements. Investors are cautioned against attributing undue certainty to forward-looking statements. These forward looking statements are made as of the date hereof and the Company does not assume any obligation to update or revise them to reflect new events or circumstances. Actual events or results could differ materially from the Company's expectations or projections. \|\| What Awaits Overstock.com (OSTK) this Earnings Season?: Overstock.com Inc.OSTK is expected to report first quarter 2016 results on Apr 25. It is an online retailer that sells brand-name merchandise at deep discounts. Its offerings include bed-and-bath goods, kitchenware, watches, jewelry, electronics, sporting goods and designer accessories. Let’s see how things are shaping up for this announcement. Factors at Play Overstock has been engaged in legal battles with several brokerage firms over issues of stock price manipulation, most recently with Goldman Sachs and Merrill Lynch. Merrill Lynch eventually settled by paying $20 million to Overstock.com and its co-plaintiffs. The Goldman Sachs case was dismissed by the court. Overstocks’ continuous efforts to reduce illegal stock manipulation and reform capital markets is likely to boost its share price and results in the to-be-reported quarter. Overstock has been a Bitcoin supporter for two years and has successfully leveraged the blockchain technology. Bitcoin is a digital currency platform with no central regulating authority involved in the transactions. It is also called crypto currency because it utilizes military-grade cryptography to protect users against fraud. Bitcoin and other cryptocurencies operate on blockchain, which is a distributed public ledger. The t0.com blockchain technology allows investors and buyers to track their purchases and ownership of crypto securities, ensuring complete transparency. Moreover, it facilitates same-day settlement of securities. However, the company has not yet achieved the expected level of synergy between blockchain and cryptocurrency and may separate them in the near future. Stocks to Consider Here are some companies that can be considered as our model shows that they have the right combination of a positive Earnings ESP and a favorable Zacks Rank to post an earnings beat this quarter: Equifax Inc. EFX with an Earnings ESP of +1.74% and a Zacks Rank #2 (Buy). SkyWest Inc. SKYW has an Earnings ESP of +16.00% and a Zacks Rank #2. Fidelity National Information Services, Inc.FIS with an Earnings ESP of +2.70% and a Zacks Rank #3 (Hold). Want the latest recommendations from Zacks Investment Research? Today, you can download7 Best Stocks for the Next 30 Days.Click to get this free report >> Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days.Click to get this free reportSKYWEST INC (SKYW): Free Stock Analysis ReportEQUIFAX INC (EFX): Free Stock Analysis ReportFIDELITY NAT IN (FIS): Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment Research \|\| What Awaits Overstock.com (OSTK) this Earnings Season?: Overstock.com Inc. OSTK is expected to report first quarter 2016 results on Apr 25. It is an online retailer that sells brand-name merchandise at deep discounts. Its offerings include bed-and-bath goods, kitchenware, watches, jewelry, electronics, sporting goods and designer accessories. Let’s see how things are shaping up for this announcement. Factors at Play Overstock has been engaged in legal battles with several brokerage firms over issues of stock price manipulation, most recently with Goldman Sachs and Merrill Lynch. Merrill Lynch eventually settled by paying $20 million to Overstock.com and its co-plaintiffs. The Goldman Sachs case was dismissed by the court. Overstocks’ continuous efforts to reduce illegal stock manipulation and reform capital markets is likely to boost its share price and results in the to-be-reported quarter. Overstock has been a Bitcoin supporter for two years and has successfully leveraged the blockchain technology. Bitcoin is a digital currency platform with no central regulating authority involved in the transactions. It is also called crypto currency because it utilizes military-grade cryptography to protect users against fraud. Bitcoin and other cryptocurencies operate on blockchain, which is a distributed public ledger. The t0.com blockchain technology allows investors and buyers to track their purchases and ownership of crypto securities, ensuring complete transparency. Moreover, it facilitates same-day settlement of securities. However, the company has not yet achieved the expected level of synergy between blockchain and cryptocurrency and may separate them in the near future. Stocks to Consider Here are some companies that can be considered as our model shows that they have the right combination of a positive Earnings ESP and a favorable Zacks Rank to post an earnings beat this quarter: Equifax Inc. EFX with an Earnings ESP of +1.74% and a Zacks Rank #2 (Buy). Story continues SkyWest Inc. SKYW has an Earnings ESP of +16.00% and a Zacks Rank #2. Fidelity National Information Services, Inc.FIS with an Earnings ESP of +2.70% and a Zacks Rank #3 (Hold). Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report >> Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report SKYWEST INC (SKYW): Free Stock Analysis Report EQUIFAX INC (EFX): Free Stock Analysis Report FIDELITY NAT IN (FIS): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research [Social Media Buzz] #TrinityCoin #TTY $ 0.000014 (0.75 %) 0.00000003 BTC (-0.00 %) \|\| LIVE: Profit = $802.03 (9.97 %). BUY B19.49 @ $420.00 (#VirCurex). SELL @ $454.58 (#Bitfinex) #bitcoin #btc - http://www.projectcoin.org \|\| #Telmi Bitcoin und Euro: 0.0100 BTC = 3.95 EUR 1.00 EUR = 0.0025 BTC Konverter http://dlvr.it/LB15R9 \|\| LIVE: Profit = $807.84 (10.04 %). BUY B19.49 @ $420.00 (#VirCurex). SELL @ $454.90 (#Bitfinex) #bitcoin #btc - http://www.projectcoin.org \|\| $448.52 at 03:00 UTC [24h Range: $436.13 - $45...	448.32, 451.88, 444.67, 450.30, 446.72, 447.98, 459.60, 458.54, 458.55, 460.48
Given the historical Bitcoin prices from the last 90 days, predict the next 10 daily closing prices. The historical prices are: 10131.52, 10242.35, 10363.14, 10400.92, 10442.17, 10323.76, 10680.84, 10796.95, 10974.91, 10948.99, 10944.59, 11094.35, 10938.27, 10462.26, 10538.46, 10246.19, 10760.07, 10692.72, 10750.72, 10775.27, 10709.65, 10844.64, 10784.49, 10619.45, 10575.97, 10549.33, 10669.58, 10793.34, 10604.41, 10668.97, 10915.69, 11064.46, 11296.36, 11384.18, 11555.36, 11425.90, 11429.51, 11495.35, 11322.12, 11358.10, 11483.36, 11742.04, 11916.33, 12823.69, 12965.89, 12931.54, 13108.06, 13031.17, 13075.25, 13654.22, 13271.29, 13437.88, 13546.52, 13781.00, 13737.11, 13550.49, 13950.30, 14133.71, 15579.85, 15565.88, 14833.75, 15479.57, 15332.32, 15290.90, 15701.34, 16276.34, 16317.81, 16068.14, 15955.59, 16716.11, 17645.41, 17804.01, 17817.09, 18621.31, 18642.23, 18370.00, 18364.12, 19107.46, 18732.12, 17150.62, 17108.40, 17717.41, 18177.48, 19625.84, 18803.00, 19201.09, 19445.40, 18699.77, 19154.23, 19345.12.	[Bitcoin Technical Analysis for 2020-12-06] Volume: 25293775714, RSI (14-day): 62.94, 50-day EMA: 16307.30, 200-day EMA: 12491.87 [Wider Market Context] None available. [Recent News (last 7 days)] Cardano to Launch Hard Fork Before Next Major Development Phase: IOHK, the development team behind public blockchain project Cardano,saidit is set to launch a hard fork in December as part of the transition to the third development phase of the protocol. Dubbed “Goguen,” the third phase will be focused on the protocol’s integration of smart contracts after building Cardano’s foundation and decentralizing its system in the first two phases. The hard fork will introduce the token-locking mechanism, one of its most significant new functions, to the mainnet. It will enable the network’s smart contracts to support certain conditions such as making users hold tokens for a fixed period of time in order to complete a contract. Related:Market Wrap: Bitcoin Dips Below $19,000 as Ether Options Volume Drops While only having a slight impact on the actual ledger, the token-locking function will prepare the platform for smart contracts and the creation of assets that run on Cardano, Kevin Hammond, the company’s software engineer, said in a statement. In addition, the upgrade will bring custom tokens into the network besides its nativeADAtoken, Hammond said. Founded in 2015, Cardano has experienced multiple hard forks to evolve through its five development phases, according to itsroadmap. After the Goguen era, the protocol will go through the last two phases, Basho and Voltaire, to improve its scaling and governance functions. • Cardano to Launch Hard Fork Before Next Major Development Phase • Cardano to Launch Hard Fork Before Next Major Development Phase • Cardano to Launch Hard Fork Before Next Major Development Phase \|\| Cardano to Launch Hard Fork Before Next Major Development Phase: IOHK, the development team behind public blockchain project Cardano, said it is set to launch a hard fork in December as part of the transition to the third development phase of the protocol. Dubbed “Goguen,” the third phase will be focused on the protocol’s integration of smart contracts after building Cardano’s foundation and decentralizing its system in the first two phases. The hard fork will introduce the token-locking mechanism, one of its most significant new functions, to the mainnet. It will enable the network’s smart contracts to support certain conditions such as making users hold tokens for a fixed period of time in order to complete a contract. Related: Market Wrap: Bitcoin Dips Below $19,000 as Ether Options Volume Drops While only having a slight impact on the actual ledger, the token-locking function will prepare the platform for smart contracts and the creation of assets that run on Cardano, Kevin Hammond, the company’s software engineer, said in a statement. In addition, the upgrade will bring custom tokens into the network besides its native ADA token, Hammond said. Founded in 2015, Cardano has experienced multiple hard forks to evolve through its five development phases, according to its roadmap . After the Goguen era, the protocol will go through the last two phases, Basho and Voltaire, to improve its scaling and governance functions. Related Stories Cardano to Launch Hard Fork Before Next Major Development Phase Cardano to Launch Hard Fork Before Next Major Development Phase Cardano to Launch Hard Fork Before Next Major Development Phase \|\| Barron's Latest Picks And Pans: Airbnb, Bank Stocks, Dividend Aristocrats And More: • This weekend'sBarron'soffers the guidance of a variety of experts on what's ahead for the global economy and the markets. • Another featured article examines why the Dividend Aristocrats may be the best bet now. • Also, the prospects for bank stocks and a highly anticipated IPO under a Biden administration. "Howard Marks Outlines Investment Opportunities, Risks" by Lawrence C. Strauss offers wisdom from Howard Marks, co-chair of Oaktree Capital Management, whose strategies include distressed assets and high-yield debt. See why his regular memos to Oaktree clients are read widely on Wall Street and beyond. Reshma Kapadia's "Climate Change Is the Biggest Investment Opportunity Post-Covid" features advice from Afsaneh Mashayekhi Beschloss, founder and CEO of RockCreek. The firm manages $15 billion on behalf of pensions, endowments and foundations, with a focus on sustainability and emerging markets. In "The Biggest Investment Opportunity for Americans Is China, Bridgewater's Karen Karniol-Tambour Says," Reshma Kapadia features the views of the director of investment research at Bridgewater Associates, the world's largest hedge fund. Find out why her boss, Ray Dalio, once likened her to a "vacuum cleaner of learning." Jens Nordvig is the founder of Exante Data, whose focus on data helped the firm see just how big a problem COVID-19 would be — and how to navigate it. So says "How to Invest in the Recoveries of the World's Hardest Hit Countries" by Ben Levisohn. See how to invest in the economic recoveries of Mexico, Thailand and other countries. In Andrew Bary's "Why Bitcoin Is the Best Investment Opportunity Post-Pandemic," see what historian Niall Ferguson, the prolific author, creator of the TV series The Ascent of Money and founder of Greenmantle, a macroeconomic and geopolitical advisory firm, has to say about what will drive the cryptocurrency higher. "Overconfidence Could Be Investors' Biggest Mistake, Richard Thaler Says" by Jack Hough offers guidance from Nobel Prize-winning behavioral economist Richard Thaler, who is co-founder of Fuller & Thaler, an asset manager that looks for bargains created when investors overreact and underreact. See how investors can avoid being punished by overconfidence. See also:Benzinga's Bulls And Bears Of The Week: Amazon, Apple, Ford, GE, Palantir And More Home-sharing upstart Airbnb could be one of the hottest initial public offerings of the year, and it is poised to gain when travel recovers, according to Andrew Bary's "Airbnb's IPO Will Be Hot. Its Stock Will Be Worth the Price." Discover how much of a challenge the online marketplace poses to the likes ofExpedia Group Inc(NYSE:EXPE) and toMarriott International Inc(NYSE:MAR). Its listing is expected in the middle of this month. In "7 Bank Stocks That Could Thrive in the Biden Era," Carleton English points out that the market found comfort in the naming of Janet Yellen as Treasury secretary, but it still favors regional banks such asBank of New York Mellon Corp(NYSE:BK),Comerica Incorporated(NYSE:CMA) andFifth Third Bancorp(NASDAQ:FITB) over the big banks. Lawrence C. Strauss's "Best Bet in a Down Year: The Dividend Aristocrats" says that consistent dividend growth over at least 25 years made up the best-performing basket of dividend stocks tracked by Wolfe Research, including many of the S&P 500 Dividend Aristocrats, such asAT&T Inc.(NYSE:T) andJohnson & Johnson(NYSE:JNJ). Also in this week's Barron's: • A checklist will get your financial life on track • Financial advice for women in their 50s • Financial advice for women in their 20s • Why the renminbi will gain wider use globally • How the COVID-19 crisis could turn into another financial crisis • Why the coronavirus pandemic was not a black swan event • How the ugly jobs report was may be good news for stocks • Why bond investors are taking on more risk • Whether gold prices will continue the march higher in 2021 • How the technology behind plant-based meat substitutes is just getting started At the time of this writing, the author had no position in the mentioned equities. Keep up with all the latest breaking news and trading ideas by followingBenzingaon Twitter. Photo courtesy Airbnb. See more from Benzinga • Click here for options trades from Benzinga • Notable Insider Buys of the Past Week: Foot Locker, Icahn Enterprises, Kraft Heinz And More • Benzinga's Bulls And Bears Of The Week: Amazon, Apple, Ford, GE, Palantir And More © 2020 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. \|\| Barron's Latest Picks And Pans: Airbnb, Bank Stocks, Dividend Aristocrats And More: This weekend's Barron's offers the guidance of a variety of experts on what's ahead for the global economy and the markets. Another featured article examines why the Dividend Aristocrats may be the best bet now. Also, the prospects for bank stocks and a highly anticipated IPO under a Biden administration. " Howard Marks Outlines Investment Opportunities, Risks " by Lawrence C. Strauss offers wisdom from Howard Marks, co-chair of Oaktree Capital Management, whose strategies include distressed assets and high-yield debt. See why his regular memos to Oaktree clients are read widely on Wall Street and beyond. Reshma Kapadia's " Climate Change Is the Biggest Investment Opportunity Post-Covid " features advice from Afsaneh Mashayekhi Beschloss, founder and CEO of RockCreek. The firm manages $15 billion on behalf of pensions, endowments and foundations, with a focus on sustainability and emerging markets. In " The Biggest Investment Opportunity for Americans Is China, Bridgewater's Karen Karniol-Tambour Says ," Reshma Kapadia features the views of the director of investment research at Bridgewater Associates, the world's largest hedge fund. Find out why her boss, Ray Dalio, once likened her to a "vacuum cleaner of learning." Jens Nordvig is the founder of Exante Data, whose focus on data helped the firm see just how big a problem COVID-19 would be — and how to navigate it. So says " How to Invest in the Recoveries of the World's Hardest Hit Countries " by Ben Levisohn. See how to invest in the economic recoveries of Mexico, Thailand and other countries. In Andrew Bary's " Why Bitcoin Is the Best Investment Opportunity Post-Pandemic ," see what historian Niall Ferguson, the prolific author, creator of the TV series The Ascent of Money and founder of Greenmantle, a macroeconomic and geopolitical advisory firm, has to say about what will drive the cryptocurrency higher. Story continues " Overconfidence Could Be Investors' Biggest Mistake, Richard Thaler Says " by Jack Hough offers guidance from Nobel Prize-winning behavioral economist Richard Thaler, who is co-founder of Fuller & Thaler, an asset manager that looks for bargains created when investors overreact and underreact. See how investors can avoid being punished by overconfidence. See also: Benzinga's Bulls And Bears Of The Week: Amazon, Apple, Ford, GE, Palantir And More Home-sharing upstart Airbnb could be one of the hottest initial public offerings of the year, and it is poised to gain when travel recovers, according to Andrew Bary's " Airbnb's IPO Will Be Hot. Its Stock Will Be Worth the Price. " Discover how much of a challenge the online marketplace poses to the likes of Expedia Group Inc (NYSE: EXPE ) and to Marriott International Inc (NYSE: MAR ). Its listing is expected in the middle of this month. In " 7 Bank Stocks That Could Thrive in the Biden Era ," Carleton English points out that the market found comfort in the naming of Janet Yellen as Treasury secretary, but it still favors regional banks such as Bank of New York Mellon Corp (NYSE: BK ), Comerica Incorporated (NYSE: CMA ) and Fifth Third Bancorp (NASDAQ: FITB ) over the big banks. Lawrence C. Strauss's " Best Bet in a Down Year: The Dividend Aristocrats " says that consistent dividend growth over at least 25 years made up the best-performing basket of dividend stocks tracked by Wolfe Research, including many of the S&P 500 Dividend Aristocrats, such as AT&T Inc. (NYSE: T ) and Johnson & Johnson (NYSE: JNJ ). Also in this week's Barron's: A checklist will get your financial life on track Financial advice for women in their 50s Financial advice for women in their 20s Why the renminbi will gain wider use globally How the COVID-19 crisis could turn into another financial crisis Why the coronavirus pandemic was not a black swan event How the ugly jobs report was may be good news for stocks Why bond investors are taking on more risk Whether gold prices will continue the march higher in 2021 How the technology behind plant-based meat substitutes is just getting started At the time of this writing, the author had no position in the mentioned equities. Keep up with all the latest breaking news and trading ideas by following Benzinga on Twitter. Photo courtesy Airbnb. See more from Benzinga Click here for options trades from Benzinga Notable Insider Buys of the Past Week: Foot Locker, Icahn Enterprises, Kraft Heinz And More Benzinga's Bulls And Bears Of The Week: Amazon, Apple, Ford, GE, Palantir And More © 2020 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. \|\| MicroStrategy Buys $50 Million Worth Of Bitcoin, Topping Up Holdings To $766M: MicroStrategy Incorporated(NASDAQ:MSTR) has bought $50 million worth ofBitcoinin cash, the company’s CEOannouncedon Twitter. What Happened:The company acquired 2,574 bitcoins for $50 million in cash at $19,427 per bitcoin, according to the related SECfiling. MicroStrategy now holds 40,824 bitcoins. That's an approximate valuation of $766.6 million, as of this afternoon. It previously purchased 16,796 bitcoins worth roughly $175 million in September, CoinDeskreported. Talking to CoinDesk in November, SaylorsaidBitcoin is “a million times better” than gold. What’s Next:During a virtual investor day in November, the company mentioned it was exploring Bitcoin data and analytics products for its customers,according toThe Block. Price Action:MicroStrategy shares closed 1.22% lower, at $324 in post-market trading. Bitcoin traded at $19,107.54 at press time, gaining 0.78% over 24 hours. See more from Benzinga • Click here for options trades from Benzinga • Guggenheim Fund Mulls Investment in Grayscale Bitcoin Trust • Cryptocurrency Prices Evolve In Cycles, Andreessen Horowitz Report Shows © 2020 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. \|\| MicroStrategy Buys $50 Million Worth Of Bitcoin, Topping Up Holdings To $766M: MicroStrategy Incorporated(NASDAQ:MSTR) has bought $50 million worth ofBitcoinin cash, the company’s CEOannouncedon Twitter. What Happened:The company acquired 2,574 bitcoins for $50 million in cash at $19,427 per bitcoin, according to the related SECfiling. MicroStrategy now holds 40,824 bitcoins. That's an approximate valuation of $766.6 million, as of this afternoon. It previously purchased 16,796 bitcoins worth roughly $175 million in September, CoinDeskreported. Talking to CoinDesk in November, SaylorsaidBitcoin is “a million times better” than gold. What’s Next:During a virtual investor day in November, the company mentioned it was exploring Bitcoin data and analytics products for its customers,according toThe Block. Price Action:MicroStrategy shares closed 1.22% lower, at $324 in post-market trading. Bitcoin traded at $19,107.54 at press time, gaining 0.78% over 24 hours. See more from Benzinga • Click here for options trades from Benzinga • Guggenheim Fund Mulls Investment in Grayscale Bitcoin Trust • Cryptocurrency Prices Evolve In Cycles, Andreessen Horowitz Report Shows © 2020 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. \|\| MicroStrategy Buys $50 Million Worth Of Bitcoin, Topping Up Holdings To $766M: MicroStrategy Incorporated (NASDAQ: MSTR ) has bought $50 million worth of Bitcoin in cash, the company’s CEO announced on Twitter. What Happened: The company acquired 2,574 bitcoins for $50 million in cash at $19,427 per bitcoin, according to the related SEC filing . MicroStrategy now holds 40,824 bitcoins. That's an approximate valuation of $766.6 million, as of this afternoon. It previously purchased 16,796 bitcoins worth roughly $175 million in September, CoinDesk reported . Talking to CoinDesk in November, Saylor said Bitcoin is “a million times better” than gold. What’s Next: During a virtual investor day in November, the company mentioned it was exploring Bitcoin data and analytics products for its customers, according to The Block. Price Action: MicroStrategy shares closed 1.22% lower, at $324 in post-market trading. Bitcoin traded at $19,107.54 at press time, gaining 0.78% over 24 hours. See more from Benzinga Click here for options trades from Benzinga Guggenheim Fund Mulls Investment in Grayscale Bitcoin Trust Cryptocurrency Prices Evolve In Cycles, Andreessen Horowitz Report Shows © 2020 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. \|\| Hong Kong Crypto Exchange Founder Taken Amid China’s Crackdown on Fraudulent Bank Accounts: Hong Kong-based crypto exchange CEO Global said Saturday one of its founders has been taken away by the authorities and it has no idea when he may return. “Affected by the ongoing national crackdown on fraudulent SIM cards and bank accounts, the bank account of one of our core founders has received illicit money from international fraudsters and scammers,” the company said in astatement. “The founder has been taken away for 15 days for the investigation.” The founder holds the private keys to most of the platform’s cold wallets. Since the exchange currently can not process all the withdrawals through its hot wallets, it said it has decided to suspend all withdrawals. Related:Hong Kong in Talks With PBOC on Digital Yuan Trial for Cross-Border Payments In the meantime, the platform will close all its over-the-counter (OTC) trading services because of the risks related to uncertainties surrounding China’s regulatory policies. The State Council, China’s cabinet,announceda national crackdown on fraudulent bank accounts and SIM cards in October. “Fraudulent SIM cards and bank accounts are among the root causes that have enabled many phone and cyber scams,” according to the announcement. People who want to avoid revealing their identity when opening a bank account or SIM card, many of whom are scammers, would buy existing SIM cards and bank accounts registered under others’ names. Due to high demand for these fraudulent accounts, an industry has developed to create and sell these accounts, some of which are obtained via identity theft. Within two weeks of the State Council’s announcement, the Chinese police have arrested more than 4,600 people and confiscated about 65,000 bank cards that are linked to fraudulent banking accounts, according to areportby state media outlet CCTV. Related:Niall Ferguson on Why Bitcoin and China Are Winning the Monetary Revolution More than 15,000 people involved in the crimes are barred from opening a new bank account in five years, according to the report. Colin Wu, a Chinese crypto reporter, recentlysaidsome Chinese crypto miners might have had difficulties in exchanging their minedbitcoinorETHfor the Chinese fiat currency topaytheir electricity bills using a bank card due to the crackdown. • Hong Kong Crypto Exchange Founder Taken Amid China’s Crackdown on Fraudulent Bank Accounts • Hong Kong Crypto Exchange Founder Taken Amid China’s Crackdown on Fraudulent Bank Accounts \|\| Hong Kong Crypto Exchange Founder Taken Amid Chinas Crackdown on Fraudulent Bank Accounts: Hong Kong-based crypto exchange CEO Global said Saturday one of its founders has been taken away by the authorities and it has no idea when he may return. Affected by the ongoing national crackdown on fraudulent SIM cards and bank accounts, the bank account of one of our core founders has received illicit money from international fraudsters and scammers, the company said in a statement . The founder has been taken away for 15 days for the investigation. The founder holds the private keys to most of the platforms cold wallets. Since the exchange currently can not process all the withdrawals through its hot wallets, it said it has decided to suspend all withdrawals. Related: Hong Kong in Talks With PBOC on Digital Yuan Trial for Cross-Border Payments In the meantime, the platform will close all its over-the-counter (OTC) trading services because of the risks related to uncertainties surrounding Chinas regulatory policies. The State Council, Chinas cabinet, announced a national crackdown on fraudulent bank accounts and SIM cards in October. Fraudulent SIM cards and bank accounts are among the root causes that have enabled many phone and cyber scams, according to the announcement. People who want to avoid revealing their identity when opening a bank account or SIM card, many of whom are scammers, would buy existing SIM cards and bank accounts registered under others names. Due to high demand for these fraudulent accounts, an industry has developed to create and sell these accounts, some of which are obtained via identity theft. Within two weeks of the State Councils announcement, the Chinese police have arrested more than 4,600 people and confiscated about 65,000 bank cards that are linked to fraudulent banking accounts, according to a report by state media outlet CCTV. Related: Niall Ferguson on Why Bitcoin and China Are Winning the Monetary Revolution Story continues More than 15,000 people involved in the crimes are barred from opening a new bank account in five years, according to the report. Colin Wu, a Chinese crypto reporter, recently said some Chinese crypto miners might have had difficulties in exchanging their mined bitcoin or ETH for the Chinese fiat currency to pay their electricity bills using a bank card due to the crackdown. Related Stories Hong Kong Crypto Exchange Founder Taken Amid Chinas Crackdown on Fraudulent Bank Accounts Hong Kong Crypto Exchange Founder Taken Amid Chinas Crackdown on Fraudulent Bank Accounts \|\| Apple Co-Founder Wozniak’s New Venture Lists Token to Help Fund Energy Efficiency Projects: Apple co-founder Steve Wozniak haslaunchedEfforce, a company that facilitates investments in energy efficiency projects via cryptocurrency and blockchain technology. The company aims to be a marketplace to streamline the process of financing and undertaking such projects by enabling them to receive crowd contributions from investors via its token, WOZX, which waslistedon Thursday through HBTC. Efforce claimed the listing has increased its market value tenfold to $950 million. The token will also be listednext weekon South Korea-based crypto exchange Bithumb Global. Related:5 Reasons Why Bitcoin Just Hit an All-Time High Price According to Efforce, energy services companies (ESCOs) tend to have limited access to capital since they often are unable to turn to traditional banking channels, as banks lack the technical expertise to properly assess the return on investment. ESCOs can register energy efficiency projects with Efforce and it will validate the projects, and evaluate their investment needs, calculate returns and create Energy Performance Contracts. There will be a smart meter on the company’s blockchain to measure each project’s energy savings and turn them into energy credits that are saved in investors’ profiles for use or sale. “We created Efforce to be the first decentralized platform that allows everyone to participate and benefit financially from worldwide energy efficiency projects, and create meaningful environmental change,” Wozniak said in a statement. Related:China's State-Sanctioned Blockchain Project BSN Adds Polkadot, Oasis, Bityuan to Network The company was co-founded by Wozniak, Jacopo Vanetti, Andrea Castiglione and Jacopo Visetti, who also founded AitherCO2. • Apple Co-Founder Wozniak’s New Venture Lists Token to Help Fund Energy Efficiency Projects • Apple Co-Founder Wozniak’s New Venture Lists Token to Help Fund Energy Efficiency Projects \|\| Apple Co-Founder Wozniaks New Venture Lists Token to Help Fund Energy Efficiency Projects: Apple co-founder Steve Wozniak has launched Efforce, a company that facilitates investments in energy efficiency projects via cryptocurrency and blockchain technology. The company aims to be a marketplace to streamline the process of financing and undertaking such projects by enabling them to receive crowd contributions from investors via its token, WOZX, which was listed on Thursday through HBTC. Efforce claimed the listing has increased its market value tenfold to $950 million. The token will also be listed next week on South Korea-based crypto exchange Bithumb Global. Related: 5 Reasons Why Bitcoin Just Hit an All-Time High Price According to Efforce, energy services companies (ESCOs) tend to have limited access to capital since they often are unable to turn to traditional banking channels, as banks lack the technical expertise to properly assess the return on investment. ESCOs can register energy efficiency projects with Efforce and it will validate the projects, and evaluate their investment needs, calculate returns and create Energy Performance Contracts. There will be a smart meter on the companys blockchain to measure each projects energy savings and turn them into energy credits that are saved in investors profiles for use or sale. We created Efforce to be the first decentralized platform that allows everyone to participate and benefit financially from worldwide energy efficiency projects, and create meaningful environmental change, Wozniak said in a statement. Related: China's State-Sanctioned Blockchain Project BSN Adds Polkadot, Oasis, Bityuan to Network The company was co-founded by Wozniak, Jacopo Vanetti, Andrea Castiglione and Jacopo Visetti, who also founded AitherCO2. Related Stories Apple Co-Founder Wozniaks New Venture Lists Token to Help Fund Energy Efficiency Projects Apple Co-Founder Wozniaks New Venture Lists Token to Help Fund Energy Efficiency Projects \|\| Square (SQ) Up 18.8% Since Last Earnings Report: Can It Continue?: It has been about a month since the last earnings report for Square (SQ). Shares have added about 18.8% in that time frame, outperforming the S&P 500. Will the recent positive trend continue leading up to its next earnings release, or is Square due for a pullback? Before we dive into how investors and analysts have reacted as of late, let's take a quick look at the most recent earnings report in order to get a better handle on the important catalysts. Square reported third-quarter 2020 adjusted earnings of 34 cents per share, beating the Zacks Consensus Estimate by 142.8%. Further, the bottom line surged 36% from the year-ago quarter.Net revenues of $3.03 billion comfortably surpassed the Zacks Consensus Estimate of $2.15 billion. Further, the top line improved 140% from the prior-ago quarter.The top line was driven by a strong momentum across the Cash App ecosystem that contributed $2.07 billion to net revenues during the reported quarter, up 574% year over year. Further, disbursements from the CARES Act stimulus programs and unemployment benefits aided growth in the Cash App engagement.Moreover, strengthening momentum across Bitcoin and a strong adoption of Cash Card benefited the results. Additionally, accelerating transaction, subscription and hardware revenues contributed well.Additionally, Square witnessed a solid traction across the seller ecosystem, which generated $965 million of revenues, up 5% year over year. Further, accelerating gross payment volume (GPV) drove the results.However, uncertainties related to the COVID-19 pandemic remain concerns for the company.Nevertheless, the company’s strengthening momentum in online channels and the growing card-not-present GPV are expected to act as tailwinds in the upcoming quarters.Further, a strong acquisition of net-new transacting active Cash App customers is likely to continue driving the company’s top line. GPV in the third quarter amounted to $31.7 billion,beating the Zacks Consensus Estimate of $29.6 billion. Moreover, the figure improved 12% year over year, which can primarily be attributed to strength acrossthe seller ecosystem during the reported quarter.Solid momentum across sellers in the international regions remained a major positive. Seller GPV was up 46% year over year and contributed 11% to the overall GPV of the company.Moreover, growth across beauty, personal care, retail, home and repair, professional services,andfood and drink verticals during the reported quarter remained positiveAdditionally, the proliferation of online sales in the international region was also a positive, backed by which GPV from online channels soared 60% year over year.Moreover, the card-not-present GPVwitnessed year-over-year growth of 24% in the third quarter. Robust online products, such as Square Online, Invoices,Virtual Terminal and e-commerce API contributed to thisupside. Transaction (30.5% of net revenues):The company generated transaction revenues of $925 million, up 13% year over year.Subscription and services (14.8% of revenues):The company generated $448 million revenues from this category, surging 60% from the year-ago quarter. This improvement can be attributed toa strong performance by Cash App, which contributed $354 million to the category’s top line. The figure was up 154% from the year-ago quarter. This was driven by a robust Cash Card spending and a growing Instant Deposit volume in the reported quarter.Hardware (0.9% of revenues):Square generated revenues worth$27 million from this business, up 25% year over year. This was driven by strong unit sales of hardware devices. The company witnessed improved sales of contactless devices like SquareRegister and Square Terminal in the reported quarter.Bitcoin (53.8% of revenues):The company generated revenues of $1.63 billion from this category, up significantly from $148.3 million. Square continued to benefit from the bitcoin space, driven by the increasing uptake of Cash App.Further, the company witnessed strong customer demand and growth in bitcoin actives in the third quarter. Per management, gross profit grew 59% from the year-ago quarter to $794 million.Adjusted EBITDA was $181 million, up 38% on a year-over-year basis.Operating expenses came in at $745 million, jumping 59% from the prior-year quarter.Product development expenses were $227 million, up 34% year over year, primarily dueto the rising engineering, data science and design personnel costs.General and administrative expenses were $154 million, up 33% from the prior-year quarter. This was primarily due to finance, legal and support personnel costs.Further, sales and marketing costs were $348 million, up 133% year over year due to increase in Cash App peer-to-peer payment transfer and Cash Card issuances. As of Sep 30, 2020, cash and cash equivalents balance was $2.1 billion, up from $1.9 billion as of Jun 30, 2020.Short-term investments were $762.4 million in the reported quarter, up from $714.3million in the previous quarter.Long-term debt was $1.76 billion, decreasing from $1.77 billion in the previous quarter. How Have Estimates Been Moving Since Then? It turns out, estimates revision have trended upward during the past month. The consensus estimate has shifted 35.45% due to these changes. VGM Scores At this time, Square has a great Growth Score of A, a grade with the same score on the momentum front. However, the stock was allocated a grade of D on the value side, putting it in the bottom 40% for this investment strategy. Overall, the stock has an aggregate VGM Score of B. If you aren't focused on one strategy, this score is the one you should be interested in. Outlook Estimates have been broadly trending upward for the stock, and the magnitude of these revisions looks promising. Notably, Square has a Zacks Rank #3 (Hold). We expect an in-line return from the stock in the next few months. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days.Click to get this free reportSquare, Inc. (SQ) : Free Stock Analysis ReportTo read this article on Zacks.com click here. \|\| Square (SQ) Up 18.8% Since Last Earnings Report: Can It Continue?: It has been about a month since the last earnings report for Square (SQ). Shares have added about 18.8% in that time frame, outperforming the S&P 500. Will the recent positive trend continue leading up to its next earnings release, or is Square due for a pullback? Before we dive into how investors and analysts have reacted as of late, let's take a quick look at the most recent earnings report in order to get a better handle on the important catalysts. Square Reports Q3 Earnings Square reported third-quarter 2020 adjusted earnings of 34 cents per share, beating the Zacks Consensus Estimate by 142.8%. Further, the bottom line surged 36% from the year-ago quarter. Net revenues of $3.03 billion comfortably surpassed the Zacks Consensus Estimate of $2.15 billion. Further, the top line improved 140% from the prior-ago quarter. The top line was driven by a strong momentum across the Cash App ecosystem that contributed $2.07 billion to net revenues during the reported quarter, up 574% year over year. Further, disbursements from the CARES Act stimulus programs and unemployment benefits aided growth in the Cash App engagement. Moreover, strengthening momentum across Bitcoin and a strong adoption of Cash Card benefited the results. Additionally, accelerating transaction, subscription and hardware revenues contributed well. Additionally, Square witnessed a solid traction across the seller ecosystem, which generated $965 million of revenues, up 5% year over year. Further, accelerating gross payment volume (GPV) drove the results. However, uncertainties related to the COVID-19 pandemic remain concerns for the company. Nevertheless, the companys strengthening momentum in online channels and the growing card-not-present GPV are expected to act as tailwinds in the upcoming quarters. Further, a strong acquisition of net-new transacting active Cash App customers is likely to continue driving the companys top line. Gross Payment Volume GPV in the third quarter amounted to $31.7 billion,beating the Zacks Consensus Estimate of $29.6 billion. Moreover, the figure improved 12% year over year, which can primarily be attributed to strength acrossthe seller ecosystem during the reported quarter. Solid momentum across sellers in the international regions remained a major positive. Seller GPV was up 46% year over year and contributed 11% to the overall GPV of the company. Moreover, growth across beauty, personal care, retail, home and repair, professional services,andfood and drink verticals during the reported quarter remained positive Additionally, the proliferation of online sales in the international region was also a positive, backed by which GPV from online channels soared 60% year over year. Moreover, the card-not-present GPVwitnessed year-over-year growth of 24% in the third quarter. Robust online products, such as Square Online, Invoices,Virtual Terminal and e-commerce API contributed to thisupside. Story continues Top-Line Details Transaction (30.5% of net revenues): The company generated transaction revenues of $925 million, up 13% year over year. Subscription and services (14.8% of revenues): The company generated $448 million revenues from this category, surging 60% from the year-ago quarter. This improvement can be attributed toa strong performance by Cash App, which contributed $354 million to the categorys top line. The figure was up 154% from the year-ago quarter. This was driven by a robust Cash Card spending and a growing Instant Deposit volume in the reported quarter. Hardware (0.9% of revenues): Square generated revenues worth$27 million from this business, up 25% year over year. This was driven by strong unit sales of hardware devices. The company witnessed improved sales of contactless devices like SquareRegister and Square Terminal in the reported quarter. Bitcoin (53.8% of revenues): The company generated revenues of $1.63 billion from this category, up significantly from $148.3 million. Square continued to benefit from the bitcoin space, driven by the increasing uptake of Cash App.Further, the company witnessed strong customer demand and growth in bitcoin actives in the third quarter. Operating Details Per management, gross profit grew 59% from the year-ago quarter to $794 million. Adjusted EBITDA was $181 million, up 38% on a year-over-year basis. Operating expenses came in at $745 million, jumping 59% from the prior-year quarter. Product development expenses were $227 million, up 34% year over year, primarily dueto the rising engineering, data science and design personnel costs. General and administrative expenses were $154 million, up 33% from the prior-year quarter. This was primarily due to finance, legal and support personnel costs. Further, sales and marketing costs were $348 million, up 133% year over year due to increase in Cash App peer-to-peer payment transfer and Cash Card issuances. Balance Sheet As of Sep 30, 2020, cash and cash equivalents balance was $2.1 billion, up from $1.9 billion as of Jun 30, 2020. Short-term investments were $762.4 million in the reported quarter, up from $714.3million in the previous quarter. Long-term debt was $1.76 billion, decreasing from $1.77 billion in the previous quarter. How Have Estimates Been Moving Since Then? It turns out, estimates revision have trended upward during the past month. The consensus estimate has shifted 35.45% due to these changes. VGM Scores At this time, Square has a great Growth Score of A, a grade with the same score on the momentum front. However, the stock was allocated a grade of D on the value side, putting it in the bottom 40% for this investment strategy. Overall, the stock has an aggregate VGM Score of B. If you aren't focused on one strategy, this score is the one you should be interested in. Outlook Estimates have been broadly trending upward for the stock, and the magnitude of these revisions looks promising. Notably, Square has a Zacks Rank #3 (Hold). We expect an in-line return from the stock in the next few months. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Square, Inc. (SQ) : Free Stock Analysis Report To read this article on Zacks.com click here. \|\| CME Leveraged Funds Double Down on Shorts as Bitcoin Maintains $19,000: Fresh off of bitcoin’srecord highin late November, leverage funds trading bitcoin futures on the Chicago Mercantile Exchange continue adding to their short positions as the leading cryptocurrency trades above $19,000. • Net short open interest (OI) for CME leveraged funds, or the total amount of outstanding contracts, hit record levels for the past two weeks, according to CME Commitment of Traders reports published every Friday. • The market’s total OI hit record highs of $1.3 billion at the end of last month. • Despite a slight decrease in short positions in early November, this demographic of traders has continued increasing its short positions since September. Over the same time period,bitcoinhas gained 60%. • Leveraged funds represent 62% of the total OI on CME’s bitcoin futures market. • CME traders likely opened some of these shorts are part of a carry trade in conjunction with long exposure in other bitcoin markets. • Also, the trades could be taken as hedges to reduce risk incurred by other open positions in the event of adverse price movements, explained Josh Olszewicz, bitcoin trader at Techemy Capital. Of course it’s hard to know for sure, but using CME bitcoin futures market to open hedging trades as well as exploiting the yield between CME markets and bitcoin spot price is a common strategy for many cryptocurrency trading firms. • Notably, OI for the other categories of CME traders is not nearly as bearish. For example, net OI for the catch-all category of “Other Reportable” traders, claiming 17% of total OI, is heavily long and near all-time highs. Update (Dec. 5, 17:38 UTC):This article has been updated to reflect the carry trade possibility for short OI increase in addition to hedging strategies. • CME Leveraged Funds Double Down on Shorts as Bitcoin Maintains $19,000 • CME Leveraged Funds Double Down on Shorts as Bitcoin Maintains $19,000 • CME Leveraged Funds Double Down on Shorts as Bitcoin Maintains $19,000 • CME Leveraged Funds Double Down on Shorts as Bitcoin Maintains $19,000 \|\| CME Leveraged Funds Double Down on Shorts as Bitcoin Maintains $19,000: Fresh off of bitcoin’srecord highin late November, leverage funds trading bitcoin futures on the Chicago Mercantile Exchange continue adding to their short positions as the leading cryptocurrency trades above $19,000. • Net short open interest (OI) for CME leveraged funds, or the total amount of outstanding contracts, hit record levels for the past two weeks, according to CME Commitment of Traders reports published every Friday. • The market’s total OI hit record highs of $1.3 billion at the end of last month. • Despite a slight decrease in short positions in early November, this demographic of traders has continued increasing its short positions since September. Over the same time period,bitcoinhas gained 60%. • Leveraged funds represent 62% of the total OI on CME’s bitcoin futures market. • CME traders likely opened some of these shorts are part of a carry trade in conjunction with long exposure in other bitcoin markets. • Also, the trades could be taken as hedges to reduce risk incurred by other open positions in the event of adverse price movements, explained Josh Olszewicz, bitcoin trader at Techemy Capital. Of course it’s hard to know for sure, but using CME bitcoin futures market to open hedging trades as well as exploiting the yield between CME markets and bitcoin spot price is a common strategy for many cryptocurrency trading firms. • Notably, OI for the other categories of CME traders is not nearly as bearish. For example, net OI for the catch-all category of “Other Reportable” traders, claiming 17% of total OI, is heavily long and near all-time highs. Update (Dec. 5, 17:38 UTC):This article has been updated to reflect the carry trade possibility for short OI increase in addition to hedging strategies. • CME Leveraged Funds Double Down on Shorts as Bitcoin Maintains $19,000 • CME Leveraged Funds Double Down on Shorts as Bitcoin Maintains $19,000 • CME Leveraged Funds Double Down on Shorts as Bitcoin Maintains $19,000 • CME Leveraged Funds Double Down on Shorts as Bitcoin Maintains $19,000 \|\| CME Leveraged Funds Double Down on Shorts as Bitcoin Maintains $19,000: Fresh off of bitcoins record high in late November, leverage funds trading bitcoin futures on the Chicago Mercantile Exchange continue adding to their short positions as the leading cryptocurrency trades above $19,000. Net short open interest (OI) for CME leveraged funds, or the total amount of outstanding contracts, hit record levels for the past two weeks, according to CME Commitment of Traders reports published every Friday. The markets total OI hit record highs of $1.3 billion at the end of last month. Despite a slight decrease in short positions in early November, this demographic of traders has continued increasing its short positions since September. Over the same time period, bitcoin has gained 60%. Leveraged funds represent 62% of the total OI on CMEs bitcoin futures market. CME traders likely opened some of these shorts are part of a carry trade in conjunction with long exposure in other bitcoin markets. Also, the trades could be taken as hedges to reduce risk incurred by other open positions in the event of adverse price movements, explained Josh Olszewicz, bitcoin trader at Techemy Capital. Of course its hard to know for sure, but using CME bitcoin futures market to open hedging trades as well as exploiting the yield between CME markets and bitcoin spot price is a common strategy for many cryptocurrency trading firms. Notably, OI for the other categories of CME traders is not nearly as bearish. For example, net OI for the catch-all category of Other Reportable traders, claiming 17% of total OI, is heavily long and near all-time highs. Update (Dec. 5, 17:38 UTC): This article has been updated to reflect the carry trade possibility for short OI increase in addition to hedging strategies. Related Stories CME Leveraged Funds Double Down on Shorts as Bitcoin Maintains $19,000 CME Leveraged Funds Double Down on Shorts as Bitcoin Maintains $19,000 CME Leveraged Funds Double Down on Shorts as Bitcoin Maintains $19,000 CME Leveraged Funds Double Down on Shorts as Bitcoin Maintains $19,000 \|\| India Plans to Tax Income From Bitcoin Investments: Report: India-based investors may soon have to pay taxes on returns earned from bitcoin investments. The country’s income tax authority is tracking investors making money amid the ongoingbitcoinprice rally and is all set to demand taxes, two sources familiar with the matter said,according to The Economic Times(ET), a business-focused daily newspaper. The tax department collected information about bitcoin trades executed through banking channels before the Reserve Bank of India’s (the country’s central bank) crypto ban took effect in April 2018. The Supreme Court overturned the ban in early March, bringing cheer to both investors and local cryptocurrency exchanges. Related:Thai Excise Department Will Deploy Blockchain Tech to Boost Tax Collection “The tax authority can also monitor earnings of cryptocurrency investors registered through KYC/AML compliant exchanges like CoinDCX and through national identity documents such as the PAN card,” Sumit Gupta, CEO of Mumbai-based cryptocurrency exchange CoinDCX, told CoinDesk. Some experts are anticipating a 30% tax on cryptocurrency gains, and many are advising their clients to file bitcoin returns as capital gains, which are associated with stocks, according to the article. Amit Maheshwari, a partner at tax and consulting firm AMK Global, told the newspaper that bitcoin’s active trading would be treated as a speculative business and attract normal tax rates. In contrast, authorities may treat one-off or infrequent transactions as capital gains, long-term or short-term, depending on the holding period, and levy a concessional rate of capital gains. The tax authority has not yet categorized returns from cryptocurrencies under any specific bracket. “Currently, if an investor submits his Income Tax declaration, the amount of earnings generated by investing in cryptocurrencies is highlighted under Income from Other Sources,'” Gupta told CoinDesk. Related:Russian Prime Minister Pledges to 'Civilize' Crypto Market and Prevent Scams The clarity on the tax and regulation front may bring more investor participation. While the Indian government does not consider bitcoin legal tender, holding cryptocurrencies is not necessarily illegal or banned.Back in September, the government wasreportedly mullinga new law prohibiting cryptocurrency trading. However,according to a think tank, the government would be better off legitimizing bitcoin by regulating it like corporate stock. • India Plans to Tax Income From Bitcoin Investments: Report • India Plans to Tax Income From Bitcoin Investments: Report \|\| India Plans to Tax Income From Bitcoin Investments: Report: India-based investors may soon have to pay taxes on returns earned from bitcoin investments. The country’s income tax authority is tracking investors making money amid the ongoing bitcoin price rally and is all set to demand taxes, two sources familiar with the matter said, according to The Economic Times (ET), a business-focused daily newspaper. The tax department collected information about bitcoin trades executed through banking channels before the Reserve Bank of India’s (the country’s central bank) crypto ban took effect in April 2018. The Supreme Court overturned the ban in early March, bringing cheer to both investors and local cryptocurrency exchanges. Related: Thai Excise Department Will Deploy Blockchain Tech to Boost Tax Collection “The tax authority can also monitor earnings of cryptocurrency investors registered through KYC/AML compliant exchanges like CoinDCX and through national identity documents such as the PAN card,” Sumit Gupta, CEO of Mumbai-based cryptocurrency exchange CoinDCX, told CoinDesk. Some experts are anticipating a 30% tax on cryptocurrency gains, and many are advising their clients to file bitcoin returns as capital gains, which are associated with stocks, according to the article. Amit Maheshwari, a partner at tax and consulting firm AMK Global, told the newspaper that bitcoin’s active trading would be treated as a speculative business and attract normal tax rates. In contrast, authorities may treat one-off or infrequent transactions as capital gains, long-term or short-term, depending on the holding period, and levy a concessional rate of capital gains. The tax authority has not yet categorized returns from cryptocurrencies under any specific bracket. “Currently, if an investor submits his Income Tax declaration, the amount of earnings generated by investing in cryptocurrencies is highlighted under Income from Other Sources,'” Gupta told CoinDesk. Related: Russian Prime Minister Pledges to 'Civilize' Crypto Market and Prevent Scams The clarity on the tax and regulation front may bring more investor participation. While the Indian government does not consider bitcoin legal tender, holding cryptocurrencies is not necessarily illegal or banned. Back in September, the government was reportedly mulling a new law prohibiting cryptocurrency trading. However, according to a think tank , the government would be better off legitimizing bitcoin by regulating it like corporate stock. Related Stories India Plans to Tax Income From Bitcoin Investments: Report India Plans to Tax Income From Bitcoin Investments: Report View comments \|\| India Plans to Tax Income From Bitcoin Investments: Report: India-based investors may soon have to pay taxes on returns earned from bitcoin investments. The country’s income tax authority is tracking investors making money amid the ongoingbitcoinprice rally and is all set to demand taxes, two sources familiar with the matter said,according to The Economic Times(ET), a business-focused daily newspaper. The tax department collected information about bitcoin trades executed through banking channels before the Reserve Bank of India’s (the country’s central bank) crypto ban took effect in April 2018. The Supreme Court overturned the ban in early March, bringing cheer to both investors and local cryptocurrency exchanges. Related:Thai Excise Department Will Deploy Blockchain Tech to Boost Tax Collection “The tax authority can also monitor earnings of cryptocurrency investors registered through KYC/AML compliant exchanges like CoinDCX and through national identity documents such as the PAN card,” Sumit Gupta, CEO of Mumbai-based cryptocurrency exchange CoinDCX, told CoinDesk. Some experts are anticipating a 30% tax on cryptocurrency gains, and many are advising their clients to file bitcoin returns as capital gains, which are associated with stocks, according to the article. Amit Maheshwari, a partner at tax and consulting firm AMK Global, told the newspaper that bitcoin’s active trading would be treated as a speculative business and attract normal tax rates. In contrast, authorities may treat one-off or infrequent transactions as capital gains, long-term or short-term, depending on the holding period, and levy a concessional rate of capital gains. The tax authority has not yet categorized returns from cryptocurrencies under any specific bracket. “Currently, if an investor submits his Income Tax declaration, the amount of earnings generated by investing in cryptocurrencies is highlighted under Income from Other Sources,'” Gupta told CoinDesk. Related:Russian Prime Minister Pledges to 'Civilize' Crypto Market and Prevent Scams The clarity on the tax and regulation front may bring more investor participation. While the Indian government does not consider bitcoin legal tender, holding cryptocurrencies is not necessarily illegal or banned.Back in September, the government wasreportedly mullinga new law prohibiting cryptocurrency trading. However,according to a think tank, the government would be better off legitimizing bitcoin by regulating it like corporate stock. • India Plans to Tax Income From Bitcoin Investments: Report • India Plans to Tax Income From Bitcoin Investments: Report \|\| JD.com Begins Limited Acceptance Of Chinese Digital Yuan Currency: Chinese e-commerce giant andAlibaba Group Holding Ltd(NYSE:BABA) competitorJD.com, Inc.(NASDAQ:JD) will become China's first platform to begin accepting a digital version of the country's currency, according toReuters. What Happened: Reuters reported that the company will accept payments in digital yuan through its fintech arm JD Digits. For now, this will be for only a limited number of products and available only to residents of Suzhou, a city near Shanghai. A lottery will be used to issue 200 digital yuan “red envelopes” to 100,000 consumers. Larger Plan: Through its central bank, the People’s Bank of China, China has been pushing to be at the forefront of national digital currencies. Suzhou has been among a handful of cities where trial programs have begun this year. Consumers in the country widely use mobile payments. Official mobile wallets would help handle potential crashes of mobile payment systems, while also giving the government greater control over how money is used. UnlikeBitcoinand other cryptocurrencies, the Chinese digital yuan allows officials totrack all digital cash in circulation. Photo courtesy Digital Yuan Trader. See more from Benzinga • Click here for options trades from Benzinga • Wait A Minute Before Buying Alibaba, JD On The Dip: Barron's © 2020 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. [Social Media Buzz] None available.	19191.63, 18321.14, 18553.92, 18264.99, 18058.90, 18803.66, 19142.38, 19246.64, 19417.08, 21310.60
Given the historical Bitcoin prices from the last 90 days, predict the next 10 daily closing prices. The historical prices are: 243.59, 250.99, 249.01, 257.06, 263.07, 258.62, 255.41, 256.34, 260.89, 271.91, 269.03, 266.21, 270.79, 269.23, 284.89, 293.11, 310.87, 292.05, 287.46, 285.83, 278.09, 279.47, 274.90, 273.61, 278.98, 275.83, 277.22, 276.05, 288.28, 288.70, 292.69, 293.62, 294.43, 289.59, 287.72, 284.65, 281.60, 282.61, 281.23, 285.22, 281.88, 278.58, 279.58, 261.00, 265.08, 264.47, 270.39, 266.38, 264.08, 265.68, 261.55, 258.51, 257.98, 211.08, 226.68, 235.35, 232.57, 230.39, 228.17, 210.49, 221.61, 225.83, 224.77, 231.40, 229.78, 228.76, 230.06, 228.12, 229.28, 227.18, 230.30, 235.02, 239.84, 239.85, 243.61, 238.17, 238.48, 240.11, 235.23, 230.51, 230.64, 230.30, 229.09, 229.81, 232.98, 231.49, 231.21, 227.09, 230.62, 230.28.	[Bitcoin Technical Analysis for 2015-09-23] Volume: 17254100, RSI (14-day): 44.79, 50-day EMA: 240.01, 200-day EMA: 252.48 [Wider Market Context] Gold Price: 1131.60, Gold RSI: 54.33 Oil Price: 44.48, Oil RSI: 47.80 [Recent News (last 7 days)] MarilynJean Media Interactive (OTCQB:MJMI) Today Announced Cancellation of Over 100,000,000 Convertible Preferred Shares: HENDERSON, NV / ACCESSWIRE / September 22, 2015 / MarilynJean Media Interactive ( MJMI ) today announced cancellation of over 100,000,000 convertible preferred shares representing over 35% of its fully diluted share total. As previously disclosed, on March 28, 2013, we acquired 100% of the issued and outstanding common shares of MarilynJean Media Inc.. Pursuant to that transaction, 106,651,250 Exchangeable Preferred Shares were issued. These were convertible into common shares of our Company on a one-for-one basis. On September 22, 2015 all 106,651,250 Exchangeable Preferred Shares were cancelled and returned to treasury, pursuant to Return to Treasury Agreements entered into with the holders of these shares. The shareholders agreed to cancel the shares and return them to treasury, in consideration for the issuance of promissory notes in the aggregate amount of $226,756. The promissory notes are due and payable upon our company completing a financing for gross proceeds of not less than $375,000. The cancelled shares represent 35.4% of the Company's fully diluted share total. Peter Janosi, MJMIs president said: With the cancellation of a significant portion of the Company's fully diluted share total, we believe we have dramatically increased the companys options for financing and growth. MJMI is in the business of providing safe and accessible services for the users of Bitcoin and other crypto-currencies. MJMI is currently exploring partnerships with several existing Bitcoin and crypto-currency exchanges as well as manufacturers and operators of Bitcoin ATMs. Such a combination would place the company in an exciting position to offer an end to end solution for trading in various crypto-currencies and potentially capture a share of the lucrative markets of Bitcoin trading and remittance services, just as these markets appear poised to undergo massive growth. About Bitcoin and Crypto-Currencies Bitcoin and other crypto-currencies are a medium of exchange using cryptography to secure transactions and control the creation of new units. Bitcoin became the first decentralized crypto-currency in 2009. Crypto-currency is produced at a rate which is defined when the system is created and publicly known. By contrast, in centralized banking and economic systems, such as the Federal Reserve System, corporate boards or governments control the supply of currency by printing units or demanding additions to digital banking ledgers. However, neither companies nor governments can produce units of crypto-currency and as such the value of crypto-currencies are completely based on supply and demand, free from any governmental control. Many people believe crypto-currencies, and in particular bitcoin, hold the promise of being the most significant advancement in global finance in modern history. The advent of bitcoin creates a secure, easily accessible and transferable transnational currency that is completely liberated from political influence. Story continues Richard Branson, head of the Virgin Group, is quoted on his company's website as saying: I have invested in Bitcoin because I believe in its potential, the capacity it has to transform global payments is very exciting. Heavyweight investment bank Goldman Sachs (NYSE:GS), announced on April 30th 2015 that it had partnered with Chinese investment firm IDG Capital partners to invest $50 million in a Bitcoin start-up. Numerous high-profile firms have begun accepting Bitcoin as a payment method including: Dell Inc. (NASDAQ:DELL), Dish Network Corp. (NASDAQ:DISH), Expedia Inc. (NASDAQ:EXPE), and Overstock.com (NASDAQ:OSTK). MarilynJean Media Interactive is among the first publicly traded companies focussed on bitcoin and the crypto-currency space. The company's trading symbol is OTCQB:MJMI. Website: www.marilynjean.com Press Contact: [email protected] SOURCE: MarilynJean Media Interactive \|\| MarilynJean Media Interactive (OTCQB:MJMI) Today Announced Cancellation of Over 100,000,000 Convertible Preferred Shares: HENDERSON, NV / ACCESSWIRE / September 22, 2015 /MarilynJean Media Interactive (MJMI) today announced cancellation of over 100,000,000 convertible preferred shares representing over 35% of its fully diluted share total. As previously disclosed, on March 28, 2013, we acquired 100% of the issued and outstanding common shares of MarilynJean Media Inc.. Pursuant to that transaction, 106,651,250 Exchangeable Preferred Shares were issued. These were convertible into common shares of our Company on a one-for-one basis. On September 22, 2015 all 106,651,250 Exchangeable Preferred Shares were cancelled and returned to treasury, pursuant to Return to Treasury Agreements entered into with the holders of these shares. The shareholders agreed to cancel the shares and return them to treasury, in consideration for the issuance of promissory notes in the aggregate amount of $226,756. The promissory notes are due and payable upon our company completing a financing for gross proceeds of not less than $375,000. The cancelled shares represent 35.4% of the Company's fully diluted share total. Peter Janosi, MJMIs president said: With the cancellation of a significant portion of the Company's fully diluted share total, we believe we have dramatically increased the companys options for financing and growth. MJMI is in the business of providing safe and accessible services for the users of Bitcoin and other crypto-currencies. MJMI is currently exploring partnerships with several existing Bitcoin and crypto-currency exchanges as well as manufacturers and operators of Bitcoin ATMs. Such a combination would place the company in an exciting position to offer an end to end solution for trading in various crypto-currencies and potentially capture a share of the lucrative markets of Bitcoin trading and remittance services, just as these markets appear poised to undergo massive growth. About Bitcoin and Crypto-Currencies Bitcoin and other crypto-currencies are a medium of exchange using cryptography to secure transactions and control the creation of new units. Bitcoin became the first decentralized crypto-currency in 2009. Crypto-currency is produced at a rate which is defined when the system is created and publicly known. By contrast, in centralized banking and economic systems, such as the Federal Reserve System, corporate boards or governments control the supply of currency by printing units or demanding additions to digital banking ledgers. However, neither companies nor governments can produce units of crypto-currency and as such the value of crypto-currencies are completely based on supply and demand, free from any governmental control. Many people believe crypto-currencies, and in particular bitcoin, hold the promise of being the most significant advancement in global finance in modern history. The advent of bitcoin creates a secure, easily accessible and transferable transnational currency that is completely liberated from political influence. Richard Branson, head of the Virgin Group, is quoted on his company's website as saying: I have invested in Bitcoin because I believe in its potential, the capacity it has to transform global payments is very exciting. Heavyweight investment bank Goldman Sachs (NYSE:GS), announced on April 30th 2015 that it had partnered with Chinese investment firm IDG Capital partners to invest $50 million in a Bitcoin start-up. Numerous high-profile firms have begun accepting Bitcoin as a payment method including: Dell Inc. (NASDAQ:DELL), Dish Network Corp. (NASDAQ:DISH), Expedia Inc. (NASDAQ:EXPE), and Overstock.com (NASDAQ:OSTK). MarilynJean Media Interactive is among the first publicly traded companies focussed on bitcoin and the crypto-currency space. The company's trading symbol is OTCQB:MJMI. Website:www.marilynjean.comPress Contact:[email protected] SOURCE:MarilynJean Media Interactive \|\| Is Snoop Dogg's Marijuana Platform Good For The Industry?: Snoop Dogg's persona has long been synonymous with marijuana as the 43-year-old has always been open about his drug use, even before the drug became legal. However, with the marijuana industry growing rapidly and many trying to spread awareness of the drug's medical benefits, some wonder if icons like Snoop Dogg are good for the industry. Merry Jane On Monday, Snoop Doggannouncedplans to create a pot-lifestyle platform called Merry Jane. The site will include news and information about marijuana and is intended to give marijuana enthusiasts a dedicated place to share and read about their hobby. When describing the website, Snoop Dogg said he intends to include cooking tutorials, celebrity appearances and even business advice for gangaprenuers. Related Link:Marijuana Posts A Major Win On The Campaign Trail A Good Move? While Snoop's website will likely appeal to a large number of the nation's pot users, some worry that it sends the wrong message at a time when marijuana needs to be taken seriously. With the 2016 elections coming up, many in the marijuana industry are worried about how a change to the administration could affect their business. Some of the candidates have pledged to reverse decisions regarding pot laws, while others have said they are uncertain about relaxing cannabis laws at a federal level. In order for the marijuana industry to continue growing, federal laws labeling marijuana as a dangerous, criminal substance need to change. One argument for marijuana has been widespread acceptance as more and more people come out in support of the drug. That acceptance has changed the portrait of an average pot smoker from a teenage burnout to an elderly pain patient or a working professional. Such shifts in perception are necessary, some say, in order to convince policy-makers in Washington to take the drug seriously. See more from Benzinga • 21 Inc's Bitcoin Computer Seeks To Redefine The Internet • Apple Moves Forward On Auto Plans • Forget The 2016 Election Candidates, CEOs Are Driving Change © 2015 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. \|\| Is Snoop Dogg's Marijuana Platform Good For The Industry?: Snoop Dogg's persona has long been synonymous with marijuana as the 43-year-old has always been open about his drug use, even before the drug became legal. However, with the marijuana industry growing rapidly and many trying to spread awareness of the drug's medical benefits, some wonder if icons like Snoop Dogg are good for the industry. Merry Jane On Monday, Snoop Dogg announced plans to create a pot-lifestyle platform called Merry Jane. The site will include news and information about marijuana and is intended to give marijuana enthusiasts a dedicated place to share and read about their hobby. When describing the website, Snoop Dogg said he intends to include cooking tutorials, celebrity appearances and even business advice for gangaprenuers. Related Link: Marijuana Posts A Major Win On The Campaign Trail A Good Move? While Snoop's website will likely appeal to a large number of the nation's pot users, some worry that it sends the wrong message at a time when marijuana needs to be taken seriously. With the 2016 elections coming up, many in the marijuana industry are worried about how a change to the administration could affect their business. Some of the candidates have pledged to reverse decisions regarding pot laws, while others have said they are uncertain about relaxing cannabis laws at a federal level. In order for the marijuana industry to continue growing, federal laws labeling marijuana as a dangerous, criminal substance need to change. One argument for marijuana has been widespread acceptance as more and more people come out in support of the drug. That acceptance has changed the portrait of an average pot smoker from a teenage burnout to an elderly pain patient or a working professional. Such shifts in perception are necessary, some say, in order to convince policy-makers in Washington to take the drug seriously. See more from Benzinga 21 Inc's Bitcoin Computer Seeks To Redefine The Internet Apple Moves Forward On Auto Plans Forget The 2016 Election Candidates, CEOs Are Driving Change © 2015 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. \|\| Texan pleads guilty to running bitcoin Ponzi scheme: By Nate Raymond NEW YORK (Reuters) - A Texas man accused of operating a Ponzi scheme involving bitcoins pleaded guilty on Monday in what prosecutors say was the first U.S. criminal securities fraud case related to the digital currency. Trendon Shavers, who authorities said defrauded investors after raising more than $4.5 million worth of bitcoins while operating Bitcoin Savings and Trust, pleaded guilty in Manhattan federal court to one count of securities fraud. "I know what I did was wrong, and I'm very sorry," Shavers said in court. Under a plea deal, Shavers has agreed not to appeal any sentence at or below 41 months in prison. Sentencing before U.S. District Judge Lewis Kaplan is scheduled for Feb. 3. Shavers, who went by "pirateat40" online, was arrested in November, two months after a federal judge in Texas ordered him to pay $40.7 million in a related U.S. Securities and Exchange Commission civil lawsuit. Prosecutors said Shavers, who turned 33 on Monday, raised at least 764,000 bitcoins worth more than $4.5 million based on the average price of bitcoin during the period of the scheme from investors from September 2011 to September 2012. He promised interest rates of 7 percent per week or 3,641 percent a year. The indictment said Shavers solicited the investments on the website Bitcoin Forum, offering to pay interest to investors who loaned bitcoins to Bitcoin Savings and Trust while he pursued a market arbitrage strategy. Michael Ferrara, a prosecutor, in court on Monday said Shavers had invested some of the bitcoins with Mt. Gox, the now-defunct Tokoyo-based bitcoin exchange. But Ferrara said Shavers, who lived in McKinney, Texas, largely instead used new investors' bitcoins to pay back prior investors. "In other words, he had the telltale signs of a Ponzi scheme," Ferrara said. In court papers, prosecutors had also accused Shavers of misappropriating bitcoins to buy a used BMW M5 sedan and a $1,000 steakhouse dinner in Las Vegas, and to go to spas and casinos. Story continues At the peak of the scheme, Shavers controlled about 7 percent of bitcoins in public circulation, prosecutors said. In total, prosecutors said he misappropriated 146,000 bitcoins and caused 48 investors to suffer losses. The case is U.S. v. Shavers, U.S. District Court, Southern District of New York, No. 15-cr-00157. (Reporting by Nate Raymond in New York; Editing by Cynthia Osterman) \|\| Texan pleads guilty to running bitcoin Ponzi scheme: By Nate Raymond NEW YORK (Reuters) - A Texas man accused of operating a Ponzi scheme involving bitcoins pleaded guilty on Monday in what prosecutors say was the first U.S. criminal securities fraud case related to the digital currency. Trendon Shavers, who authorities said defrauded investors after raising more than $4.5 million worth of bitcoins while operating Bitcoin Savings and Trust, pleaded guilty in Manhattan federal court to one count of securities fraud. "I know what I did was wrong, and I'm very sorry," Shavers said in court. Under a plea deal, Shavers has agreed not to appeal any sentence at or below 41 months in prison. Sentencing before U.S. District Judge Lewis Kaplan is scheduled for Feb. 3. Shavers, who went by "pirateat40" online, was arrested in November, two months after a federal judge in Texas ordered him to pay $40.7 million in a related U.S. Securities and Exchange Commission civil lawsuit. Prosecutors said Shavers, who turned 33 on Monday, raised at least 764,000 bitcoins worth more than $4.5 million based on the average price of bitcoin during the period of the scheme from investors from September 2011 to September 2012. He promised interest rates of 7 percent per week or 3,641 percent a year. The indictment said Shavers solicited the investments on the website Bitcoin Forum, offering to pay interest to investors who loaned bitcoins to Bitcoin Savings and Trust while he pursued a market arbitrage strategy. Michael Ferrara, a prosecutor, in court on Monday said Shavers had invested some of the bitcoins with Mt. Gox, the now-defunct Tokoyo-based bitcoin exchange. But Ferrara said Shavers, who lived in McKinney, Texas, largely instead used new investors' bitcoins to pay back prior investors. "In other words, he had the telltale signs of a Ponzi scheme," Ferrara said. In court papers, prosecutors had also accused Shavers of misappropriating bitcoins to buy a used BMW M5 sedan and a $1,000 steakhouse dinner in Las Vegas, and to go to spas and casinos. Story continues At the peak of the scheme, Shavers controlled about 7 percent of bitcoins in public circulation, prosecutors said. In total, prosecutors said he misappropriated 146,000 bitcoins and caused 48 investors to suffer losses. The case is U.S. v. Shavers, U.S. District Court, Southern District of New York, No. 15-cr-00157. (Reporting by Nate Raymond in New York; Editing by Cynthia Osterman) \|\| Bitcoin Gaining Traction At Colleges Around The World: The purpose of higher education is to provide students with the tools they need to enter their chosen profession. Real-world skills have long been an emphasis at top schools around the world, and now those skills include an in depth study on cryptocurrencies like bitcoin. As digital currencies gain momentum across the globe, universities are taking notice andadding bitcoin coursesto their syllabuses in order to keep up with the quickly changing fintech landscape. Teaching In An Evolving Field American Universities like Massachusetts Institute of Technology and Duke University only recently launched bitcoin classes, but others around the world have been offering such courses for years. The University of Cumbria was the first U.K. university to offer bitcoin courses and the University of Nicosia in Cyprus was one of the first to offer a free bitcoin course in 2013 to any interested parties. Related Link:New Ruling Defines Bitcoin As A Commodity In The US Bitcoin Adoption Universities that offer bitcoin studies are creating a major stepping stone for the cryptocurrency as it expands further. Not only do the classes give the best and brightest the tools to solve real-world problems related to digital currencies, but they draw awareness to cryptocurrencies as well. Canadian McGill University and MIT both offered bitcoin giveaways to students in an effort to give the cryptocurrency more traction on campus. Others like the U.K.'s Imperial College have dedicated research to the expanding field and given students and staff the opportunity to collaborate in order to solve some of the cryptocurrency's pressing issues. Bitcoin Payments Not only are schools offering their students a chance to learn more about bitcoin, but many are accepting the cryptocurrency as payment for their studies as well. In 2013, the University of Nicosia in Cyprus was the first college in the world to accept bitcoin as a form of payment. The school announced that its students could pay for courses and other fees using the cryptocurrency, and had its first student pay in bitcoin just weeks later. See more from Benzinga • As Adults Embrace Marijuana, Teens Turn Their Noses Up • Here's How The Fed's Decisions Will Affect Central Bankers Around The World • Pentagon Working To Overhaul Cybersecurity Protocol © 2015 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. \|\| Bitcoin Gaining Traction At Colleges Around The World: The purpose of higher education is to provide students with the tools they need to enter their chosen profession. Real-world skills have long been an emphasis at top schools around the world, and now those skills include an in depth study on cryptocurrencies like bitcoin. As digital currencies gain momentum across the globe, universities are taking notice andadding bitcoin coursesto their syllabuses in order to keep up with the quickly changing fintech landscape. Teaching In An Evolving Field American Universities like Massachusetts Institute of Technology and Duke University only recently launched bitcoin classes, but others around the world have been offering such courses for years. The University of Cumbria was the first U.K. university to offer bitcoin courses and the University of Nicosia in Cyprus was one of the first to offer a free bitcoin course in 2013 to any interested parties. Related Link:New Ruling Defines Bitcoin As A Commodity In The US Bitcoin Adoption Universities that offer bitcoin studies are creating a major stepping stone for the cryptocurrency as it expands further. Not only do the classes give the best and brightest the tools to solve real-world problems related to digital currencies, but they draw awareness to cryptocurrencies as well. Canadian McGill University and MIT both offered bitcoin giveaways to students in an effort to give the cryptocurrency more traction on campus. Others like the U.K.'s Imperial College have dedicated research to the expanding field and given students and staff the opportunity to collaborate in order to solve some of the cryptocurrency's pressing issues. Bitcoin Payments Not only are schools offering their students a chance to learn more about bitcoin, but many are accepting the cryptocurrency as payment for their studies as well. In 2013, the University of Nicosia in Cyprus was the first college in the world to accept bitcoin as a form of payment. The school announced that its students could pay for courses and other fees using the cryptocurrency, and had its first student pay in bitcoin just weeks later. See more from Benzinga • As Adults Embrace Marijuana, Teens Turn Their Noses Up • Here's How The Fed's Decisions Will Affect Central Bankers Around The World • Pentagon Working To Overhaul Cybersecurity Protocol © 2015 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. \|\| Bitcoin Gaining Traction At Colleges Around The World: The purpose of higher education is to provide students with the tools they need to enter their chosen profession. Real-world skills have long been an emphasis at top schools around the world, and now those skills include an in depth study on cryptocurrencies like bitcoin. As digital currencies gain momentum across the globe, universities are taking notice and adding bitcoin courses to their syllabuses in order to keep up with the quickly changing fintech landscape. Teaching In An Evolving Field American Universities like Massachusetts Institute of Technology and Duke University only recently launched bitcoin classes, but others around the world have been offering such courses for years. The University of Cumbria was the first U.K. university to offer bitcoin courses and the University of Nicosia in Cyprus was one of the first to offer a free bitcoin course in 2013 to any interested parties. Related Link: New Ruling Defines Bitcoin As A Commodity In The US Bitcoin Adoption Universities that offer bitcoin studies are creating a major stepping stone for the cryptocurrency as it expands further. Not only do the classes give the best and brightest the tools to solve real-world problems related to digital currencies, but they draw awareness to cryptocurrencies as well. Canadian McGill University and MIT both offered bitcoin giveaways to students in an effort to give the cryptocurrency more traction on campus. Others like the U.K.'s Imperial College have dedicated research to the expanding field and given students and staff the opportunity to collaborate in order to solve some of the cryptocurrency's pressing issues. Bitcoin Payments Not only are schools offering their students a chance to learn more about bitcoin, but many are accepting the cryptocurrency as payment for their studies as well. In 2013, the University of Nicosia in Cyprus was the first college in the world to accept bitcoin as a form of payment. The school announced that its students could pay for courses and other fees using the cryptocurrency, and had its first student pay in bitcoin just weeks later. Story continues See more from Benzinga As Adults Embrace Marijuana, Teens Turn Their Noses Up Here's How The Fed's Decisions Will Affect Central Bankers Around The World Pentagon Working To Overhaul Cybersecurity Protocol © 2015 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. \|\| Innovation ETFs: Real Deal Or Gimmick?: [This article previously appeared in our September issue of ETF Report .] Technological innovations are so integrated into our lives that we don’t think about their impact. Beyond the latest electronic gadget, technology has enhanced everything from medicine to food. Within the past 12 months, several new exchange-traded funds debuted promoting the idea that innovation is an investable theme. These funds are more than simple technology sector ETFs; rather, their idea of innovation is to look at companies using technology to push their industry forward. In fact, many of these companies aren’t necessarily considered technology firms; instead, they inhabit other sectors like energy or health care. The biggest of these funds in terms of assets under management by far is the iShares Exponential Technologies ETF (XT ), based on the Morningstar Exponential Technologies Index. It’s backed by fund manager Ric Edelman, founder and chief executive officer of Edelman Financial, who seeded the fund with about $560 million after its launch. There are two other fund families focusing on technological innovation. ARK Investment Management’s funds include four actively managed ETFs: the ARK Genomic Revolution Multi-Sector ETF (ARKG \| D-36) , ARK Industrial Innovation ETF (ARKQ \| D-44) , ARK Web x.0 ETF (ARKW\|D-29) and ARK Innovation ETF (ARKK \| D-32) . ARKK contains all three of the other ARK innovation funds. Meanwhile, the newly launched Gavekal Knowledge Leaders Developed World ETF (KLDW ) and the Gavekal Knowledge Leaders Emerging Markets ETF (KLEM) follow Gavekal’s Knowledge Leaders indexes. There is some debate about whether technological innovation is an investment theme, and it may just be pure coincidence that within the space of a year several funds launched based roughly on the same idea without being clones of each other. Technology certainly has blurred the lines regarding the categorization of certain firms based on their business lines—think of Tesla being a car company and focused on energy storage. Yet at least one industry watcher said the name “innovation” is just growth with better marketing. Story continues Another Paradigm Shift? Managers of these funds said when thinking broadly about innovation, consider how the advent of different technologies changed life over the centuries, such as the printing press, the steam engine and electricity. Edelman said previously he went to iShares to create a fund focusing on “new economy” companies, a fund that would include everything from robotics to artificial intelligence to energy and environmental systems to medicine. Innovation is neither a market sector nor a geographical issue, but a fundamental theme. Given recent technological breakthroughs, he has said, this fund could not have existed even a few years ago. XT launched March 23 and has about $689 million in assets under management. Information technology and health care make up the bulk of the fund, a little more than 60% combined, with 67% of the companies domiciled in the U.S. It has an expense ratio of 0.47%. Targeting ‘Disruptive’ Technology XT has the most assets under management of the innovation funds, but it wasn’t the first on the scene. ARK Investments’ fund ARKQ launched on Sept. 30, 2014, ARKW launched on Oct. 7, 2014 and ARKG and ARKK launched Oct. 31. These funds focus on the theme of “disruptive” technology. Tom Staudt, associate portfolio manager at ARK, says the funds look at what they call “general purpose technology platforms” that will drive the economy across sectors. Those platforms include cloud computing and big data, automation and robotics, and genomic sequencing. Innovations Capture For a larger view, please click on the image above. All four funds have expense ratios of 0.95% and have a heavy domestic tilt, with at least 71% of holdings in U.S. companies. By sector breakdown, ARKW has 77% in technology; ARKQ is 56% technology-focused; ARKG is 80% focused on health care. ARKK holds all three funds and comprises 48% ARKW, 31% ARKQ and 20% ARKG. As of July 20, assets under management were $14 million for ARKQ, $13.1 million for ARKW, $9.7 million for ARKG and $7.7 million for ARKK. At first blush, the funds appear to be heavily weighted in technology or health care, but Staudt says they’re really cross-sector funds that fit into a portfolio’s growth allocation. The funds’ construction takes advantage of the blurry lines of classification across sectors. For instance, investors who own the Technology Select Sector SPDR Fund (XLK \| A-90) , don’t own Amazon, the largest cloud provider in the world. “The reason they don’t is because [Amazon] is considered a consumer-discretionary company. They don’t have Netflix, the largest streaming-video provider in the world. Why? It’s consumer discretionary,” he said. Staudt doesn’t necessarily consider innovation to be a new investment idea, but he suggests the current interest in innovation comes from buyers getting comfortable again with technology investing as a whole after dealing with “scar tissue from the tech and telecom bust” that started in 2000. A Semiconductor Spark Steven Vannelli, chief investment officer for Gavekal Funds, says they trace back the idea of technological innovation influencing everyday life to the introduction of the semiconductor and how computing power grew. The exponential growth in computing technology is commonly known as Moore’s law, named after Gordon Moore, co-founder of Intel. The semiconductor’s influence is seen in what Gavekal calls “the knowledge effect,” and Gavekal built indexes around companies using this to change how their industries develop. The KLDW and KLEM ETFs are based on those benchmarks. Launched July 8, the funds each have $2.5 million in assets under management as of July 20. Companies using the knowledge effect outperform less innovative companies, Vannelli says, and part of that is due to how the U.S. Financial Accounting Standards Board forces firms to expense their knowledge investments in the period in which they were incurred. This doesn’t allow companies to treat knowledge investments as assets—unlike the way physical objects are accounted—so it skews what information investors have, he says. Gavekal picks the firms for their funds by reorganizing what’s publically recorded on a company’s balance sheet and treats investments in intellectual property the same way a company might treat equipment. Growth Rebranded? … Christian Magoon, chief executive officer of YieldShares, and an industry veteran who launched many ETFs, is skeptical about whether innovation is a true investment theme. “If you launched a ‘growth-leaders fund,’ there would be yawning in the marketplace. But if you launched an ‘innovation fund,’ people would say ‘oh, innovation, that’s interesting.’ It has a little bit of a branding/marketing feel to it,” he said. Paul Britt, senior analyst at FactSet, says investors interested in an innovation fund need to look closely at the holdings, because some of them contain big-cap names rather than small- or midcap firms most people associate with innovation, noting the PureFunds ISE Mobile Payments ETF (IPAY) as an example. “That’s hot and trending, and I’m picturing a bunch of college kids in a loft somewhere cooking these things up. But if you look under the hood, the top holdings [in IPAY] are Visa, MasterCard and Amex. You’re thinking ‘how innovative is that?’” he said. Britt agrees that blunt sector classification is becoming fuzzy, such as in the Amazon and Netflix examples. He said investors wanting a nuanced approach should review a firm’s revenue attribution to understand what portion is actually focused on the potential innovation theme. “That speaks to the classification notion of what these companies are, and what bucket you put them in,” he said. What makes these ETFs stand out a bit is that they may hold some names not normally represented in traditional indexes, Magoon says, since many leading innovation firms usually have smaller market caps or are emerging companies. He says these are likely more volatile stocks, so owning a basket of 20 or 30 companies in a diversified ETF is less risky than owning, say, a biotech sector ETF. One thing to consider about these funds is their expectations that they will target future growth, Britt says. “It’s one thing to name these companies; it’s another thing to say that these things are going to outperform the market—that the market has underpriced them. At end of the day, they might not outperform Nabisco or something else,” he said. The overall market is currently rewarding growth, which benefits these ETFs, Magoon says, but if value investing becomes popular, it’s hard to say how it will affect the funds. Britt says investors could get some perspective on innovation funds by looking back at what was hot a few years ago, such as renewable energy. He used the PowerShares Global Clean Energy Portfolio (PBD \| D-23) as an example of a fund that is down significantly from its highs. “That’s innovation, but it’s not so fresh. It may give you a little perspective on what will it feel like in five years when we’ve moved on to the next thing. Some of these funds will be with us, some not,” he said. … Or A Lasting Theme? Certainly, XT, the largest of these funds, has a heavy growth tilt, though it’s not at all a pure growth vehicle. If you look at the Morningstar classifications of the holdings, 46% of the portfolio is in growth stocks, with 32% in blend and 21% in value. In other words, more than half of the fund is in nongrowth stocks. By contrast, 33% of the SPDR SandP 500 ETF (SPY \| A-98) is classified as growth. However, advisors using the funds would beg to differ with the growth characterization. John Eberle, chief investment officer of Fiduciary Financial Partners, notes that he’s been using the firm’s actively managed mutual fund since not too long after it launched, and that he would be moving some of those assets into the ETFs. The ETFs, he points out, don’t need to maintain cash reserves, unlike the mutual fund, which at times has roughly 20% of its assets in cash. Eberle also doesn’t see Gavekal’s approach as a growth-oriented strategy. “I could see these being perceived as more growth-oriented, but I would think of it in a different way. They’re trying to define an asset that’s not defined in the balance sheet, like intangibles,” Eberle said, adding that he considers himself to be a value investor, as he believes growth expectations are frequently overestimated. “Whether the intellectual capital is generated internally or through MandA, it shouldn’t make a difference. Value or growth, what they’re getting is an asset that is—or more to the point, is not —on the balance sheet that will generate revenue and profit opportunity that other people are not accounting for,” he said. For Ric Edelman, who was the main driving force behind XT, the growth characterization seems to be purely coincidental. He notes that growth qualities were not a part of the selection methodology. “The fund was designed to contain companies that are leaders in using or developing exponential technologies, and growth was not a criteria,” he said. And while Edelman doesn’t think the launch of seven similarly themed funds within the space of a year was necessarily a coincidence, he’s not convinced it’s a widespread trend, adding that he’s not aware of any other similar funds in development. He is, however, a firm believer in the exponential technologies theme that underlies XT. “I’m convinced that this particular theme is very important for investment portfolios, and will increasingly be viewed as an essential part of any asset allocation model,” he said. Recommended stories Swedroe: Taxing The Yale Model ETF Options 101: 3 Ways To Go Long SPY Greg King Debuts New ETF Firm All Investors Are Long Volatility, But There’s Help Bitcoins In This ETF Not What It Seems Permalink \| © Copyright "dat ETF.com. All rights reserved \|\| Innovation ETFs: Real Deal Or Gimmick?: [This article previously appeared in ourSeptember issue of ETF Report.] Technological innovations are so integrated into our lives that we don’t think about their impact. Beyond the latest electronic gadget, technology has enhanced everything from medicine to food. Within the past 12 months, several new exchange-traded funds debuted promoting the idea that innovation is an investable theme. These funds are more than simple technology sector ETFs; rather, their idea of innovation is to look at companies using technology to push their industry forward. In fact, many of these companies aren’t necessarily considered technology firms; instead, they inhabit other sectors like energy or health care. The biggest of these funds in terms of assets under management by far is theiShares Exponential Technologies ETF (XT), based on the Morningstar Exponential Technologies Index. It’s backed by fund manager Ric Edelman, founder and chief executive officer of Edelman Financial, who seeded the fund with about $560 million after its launch. There are two other fund families focusing on technological innovation. ARK Investment Management’s funds include four actively managed ETFs: theARK Genomic Revolution Multi-Sector ETF (ARKG \| D-36),ARK Industrial Innovation ETF (ARKQ \| D-44),ARK Web x.0 ETF (ARKW\|D-29)andARK Innovation ETF (ARKK \| D-32). ARKK contains all three of the other ARK innovation funds. Meanwhile, the newly launchedGavekal Knowledge Leaders Developed World ETF (KLDW) and theGavekal Knowledge Leaders Emerging Markets ETF (KLEM)follow Gavekal’s Knowledge Leaders indexes. There is some debate about whether technological innovation is an investment theme, and it may just be pure coincidence that within the space of a year several funds launched based roughly on the same idea without being clones of each other. Technology certainly has blurred the lines regarding the categorization of certain firms based on their business lines—think of Tesla being a car companyandfocused on energy storage. Yet at least one industry watcher said the name “innovation” is just growth with better marketing. Another Paradigm Shift?Managers of these funds said when thinking broadly about innovation, consider how the advent of different technologies changed life over the centuries, such as the printing press, the steam engine and electricity. Edelman said previously he went to iShares to create a fund focusing on “new economy” companies, a fund that would include everything from robotics to artificial intelligence to energy and environmental systems to medicine. Innovation is neither a market sector nor a geographical issue, but a fundamental theme. Given recent technological breakthroughs, he has said, this fund could not have existed even a few years ago. XT launched March 23 and has about $689 million in assets under management. Information technology and health care make up the bulk of the fund, a little more than 60% combined, with 67% of the companies domiciled in the U.S. It has an expense ratio of 0.47%. Targeting ‘Disruptive’ TechnologyXT has the most assets under management of the innovation funds, but it wasn’t the first on the scene. ARK Investments’ fund ARKQ launched on Sept. 30, 2014, ARKW launched on Oct. 7, 2014 and ARKG and ARKK launched Oct. 31. These funds focus on the theme of “disruptive” technology. Tom Staudt, associate portfolio manager at ARK, says the funds look at what they call “general purpose technology platforms” that will drive the economy across sectors. Those platforms include cloud computing and big data, automation and robotics, and genomic sequencing. For a larger view, please click on the image above. All four funds have expense ratios of 0.95% and have a heavy domestic tilt, with at least 71% of holdings in U.S. companies. By sector breakdown, ARKW has 77% in technology; ARKQ is 56% technology-focused; ARKG is 80% focused on health care. ARKK holds all three funds and comprises 48% ARKW, 31% ARKQ and 20% ARKG. As of July 20, assets under management were $14 million for ARKQ, $13.1 million for ARKW, $9.7 million for ARKG and $7.7 million for ARKK. At first blush, the funds appear to be heavily weighted in technology or health care, but Staudt says they’re really cross-sector funds that fit into a portfolio’s growth allocation. The funds’ construction takes advantage of the blurry lines of classification across sectors. For instance, investors who own theTechnology Select Sector SPDR Fund (XLK \| A-90), don’t own Amazon, the largest cloud provider in the world. “The reason they don’t is because [Amazon] is considered a consumer-discretionary company. They don’t have Netflix, the largest streaming-video provider in the world. Why? It’s consumer discretionary,” he said. Staudt doesn’t necessarily consider innovation to be a new investment idea, but he suggests the current interest in innovation comes from buyers getting comfortable again with technology investing as a whole after dealing with “scar tissue from the tech and telecom bust” that started in 2000. A Semiconductor SparkSteven Vannelli, chief investment officer for Gavekal Funds, says they trace back the idea of technological innovation influencing everyday life to the introduction of the semiconductor and how computing power grew. The exponential growth in computing technology is commonly known as Moore’s law, named after Gordon Moore, co-founder of Intel. The semiconductor’s influence is seen in what Gavekal calls “the knowledge effect,” and Gavekal built indexes around companies using this to change how their industries develop. The KLDW and KLEM ETFs are based on those benchmarks. Launched July 8, the funds each have $2.5 million in assets under management as of July 20. Companies using the knowledge effect outperform less innovative companies, Vannelli says, and part of that is due to how the U.S. Financial Accounting Standards Board forces firms to expense their knowledge investments in the period in which they were incurred. This doesn’t allow companies to treat knowledge investments as assets—unlike the way physical objects are accounted—so it skews what information investors have, he says. Gavekal picks the firms for their funds by reorganizing what’s publically recorded on a company’s balance sheet and treats investments in intellectual property the same way a company might treat equipment. Growth Rebranded? …Christian Magoon, chief executive officer of YieldShares, and an industry veteran who launched many ETFs, is skeptical about whether innovation is a true investment theme. “If you launched a ‘growth-leaders fund,’ there would be yawning in the marketplace. But if you launched an ‘innovation fund,’ people would say ‘oh, innovation, that’s interesting.’ It has a little bit of a branding/marketing feel to it,” he said. Paul Britt, senior analyst at FactSet, says investors interested in an innovation fund need to look closely at the holdings, because some of them contain big-cap names rather than small- or midcap firms most people associate with innovation, noting the PureFunds ISE Mobile Payments ETF (IPAY) as an example. “That’s hot and trending, and I’m picturing a bunch of college kids in a loft somewhere cooking these things up. But if you look under the hood, the top holdings [in IPAY] are Visa, MasterCard and Amex. You’re thinking ‘how innovative is that?’” he said. Britt agrees that blunt sector classification is becoming fuzzy, such as in the Amazon and Netflix examples. He said investors wanting a nuanced approach should review a firm’s revenue attribution to understand what portion is actually focused on the potential innovation theme. “That speaks to the classification notion of what these companies are, and what bucket you put them in,” he said. What makes these ETFs stand out a bit is that they may hold some names not normally represented in traditional indexes, Magoon says, since many leading innovation firms usually have smaller market caps or are emerging companies. He says these are likely more volatile stocks, so owning a basket of 20 or 30 companies in a diversified ETF is less risky than owning, say, a biotech sector ETF. One thing to consider about these funds is their expectations that they will target future growth, Britt says. “It’s one thing to name these companies; it’s another thing to say that these things are going to outperform the market—that the market has underpriced them. At end of the day, they might not outperform Nabisco or something else,” he said. The overall market is currently rewarding growth, which benefits these ETFs, Magoon says, but if value investing becomes popular, it’s hard to say how it will affect the funds. Britt says investors could get some perspective on innovation funds by looking back at what was hot a few years ago, such as renewable energy. He used thePowerShares Global Clean Energy Portfolio (PBD \| D-23)as an example of a fund that is down significantly from its highs. “That’s innovation, but it’s not so fresh. It may give you a little perspective on what will it feel like in five years when we’ve moved on to the next thing. Some of these funds will be with us, some not,” he said. … Or A Lasting Theme?Certainly, XT, the largest of these funds, has a heavy growth tilt, though it’s not at all a pure growth vehicle. If you look at the Morningstar classifications of the holdings, 46% of the portfolio is in growth stocks, with 32% in blend and 21% in value. In other words, more than half of the fund is in nongrowth stocks. By contrast, 33% of theSPDR SandP 500 ETF (SPY \| A-98)is classified as growth. However, advisors using the funds would beg to differ with the growth characterization. John Eberle, chief investment officer of Fiduciary Financial Partners, notes that he’s been using the firm’s actively managed mutual fund since not too long after it launched, and that he would be moving some of those assets into the ETFs. The ETFs, he points out, don’t need to maintain cash reserves, unlike the mutual fund, which at times has roughly 20% of its assets in cash. Eberle also doesn’t see Gavekal’s approach as a growth-oriented strategy. “I could see these being perceived as more growth-oriented, but I would think of it in a different way. They’re trying to define an asset that’s not defined in the balance sheet, like intangibles,” Eberle said, adding that he considers himself to be a value investor, as he believes growth expectations are frequently overestimated. “Whether the intellectual capital is generated internally or through MandA, it shouldn’t make a difference. Value or growth, what they’re getting is an asset that is—or more to the point, isnot—on the balance sheet that will generate revenue and profit opportunity that other people are not accounting for,” he said. For Ric Edelman, who was the main driving force behind XT, the growth characterization seems to be purely coincidental. He notes that growth qualities were not a part of the selection methodology. “The fund was designed to contain companies that are leaders in using or developing exponential technologies, and growth was not a criteria,” he said. And while Edelman doesn’t think the launch of seven similarly themed funds within the space of a year was necessarily a coincidence, he’s not convinced it’s a widespread trend, adding that he’s not aware of any other similar funds in development. He is, however, a firm believer in the exponential technologies theme that underlies XT. “I’m convinced that this particular theme is very important for investment portfolios, and will increasingly be viewed as an essential part of any asset allocation model,” he said. Recommended stories • Swedroe: Taxing The Yale Model • ETF Options 101: 3 Ways To Go Long SPY • Greg King Debuts New ETF Firm • All Investors Are Long Volatility, But There’s Help • Bitcoins In This ETF Not What It Seems Permalink\| © Copyright "datETF.com.All rights reserved \|\| Bitcoin Is Now Classified as a Commodity in the U.S.: Bitcoin will now be classed as a commodity in the U.S. along with gold and oil, according to the Commodity Futures Trading Commission (CFTC), which has started to clamp down on unregistered firms that trade derivatives of the cryptocurrency. The CFTC stated Thursday that it had ordered bitcoin options trading platform Coinflip, and its CEO Francisco Riordan, to cease trading due to it not registering and complying with its regulations. It added that it had also filed, and simultaneously settled, charges against the San Francisco-based firm. This might mean a nervous couple of months for other unregistered bitcoin derivatives firms in the U.S. but also signaled that the cryptocurrency will now come under the CFTC's scope. "CFTC holds that bitcoin and other virtual currencies are a commodity covered by the commodity exchange act," the regulator said in a statement Thursday. Aitan Goelman, the CFTC's director of enforcement, added that "while there is a lot of excitement surrounding bitcoin...innovation does not excuse those acting in this space from following the same rules applicable to all participants in the commodity derivatives markets." Francisco Riordan was not immediately available for comment when contacted by CNBC. Bitcoin is a virtual currency that allows users to exchange online credits for goods and services. While there is no central bank that issues them, bitcoins can be created online by using a computer to complete difficult tasks, a process known as mining. As well as bitcoin exchanges and wallet services, a small but growing sector of derivatives firms selling products based on the digital currency have also sprung up in recent years. Crypto Facilities was set up in the U.K. this year by former bankers from Goldman Sachs, Morgan Stanley, BNP Paribas and Societe Generale. The platform pitches itself as a broker which specializes in bitcoin derivatives, and trades financial products like options and futures which are directly linked to the price of the cryptocurrency. Thus, it allows users to "go long" and bet that the price of bitcoin will rise, or "go short" and bet the price will fall. Technology enthusiasts, regulators and economists have been pondering how to pigeon hole bitcoin since its emergence in 2009. In August 2013, the German Finance Ministry classified it as a "unit of account", meaning it is can be used for tax and trading purposes in the country and is like "private money." \|\| Bitcoin Is Now Classified as a Commodity in the U.S.: Bitcoin will now be classed as a commodity in the U.S. along with gold and oil, according to the Commodity Futures Trading Commission (CFTC), which has started to clamp down on unregistered firms that trade derivatives of the cryptocurrency. The CFTC stated Thursday that it had ordered bitcoin options trading platform Coinflip, and its CEO Francisco Riordan, to cease trading due to it not registering and complying with its regulations. It added that it had also filed, and simultaneously settled, charges against the San Francisco-based firm. This might mean a nervous couple of months for other unregistered bitcoin derivatives firms in the U.S. but also signaled that the cryptocurrency will now come under the CFTC's scope. "CFTC holds that bitcoin and other virtual currencies are a commodity covered by the commodity exchange act," the regulator said in a statement Thursday. Aitan Goelman, the CFTC's director of enforcement, added that "while there is a lot of excitement surrounding bitcoin...innovation does not excuse those acting in this space from following the same rules applicable to all participants in the commodity derivatives markets." Francisco Riordan was not immediately available for comment when contacted by CNBC. Bitcoin is a virtual currency that allows users to exchange online credits for goods and services. While there is no central bank that issues them, bitcoins can be created online by using a computer to complete difficult tasks, a process known as mining. As well as bitcoin exchanges and wallet services, a small but growing sector of derivatives firms selling products based on the digital currency have also sprung up in recent years. Crypto Facilities was set up in the U.K. this year by former bankers from Goldman Sachs, Morgan Stanley, BNP Paribas and Societe Generale. The platform pitches itself as a broker which specializes in bitcoin derivatives, and trades financial products like options and futures which are directly linked to the price of the cryptocurrency. Thus, it allows users to "go long" and bet that the price of bitcoin will rise, or "go short" and bet the price will fall. Technology enthusiasts, regulators and economists have been pondering how to pigeon hole bitcoin since its emergence in 2009. In August 2013, the German Finance Ministry classified it as a "unit of account", meaning it is can be used for tax and trading purposes in the country and is like "private money." \|\| Bitcoin Is Now Classified as a Commodity in the U.S.: Bitcoin will now be classed as a commodity in the U.S. along with gold and oil, according to the Commodity Futures Trading Commission (CFTC), which has started to clamp down on unregistered firms that trade derivatives of the cryptocurrency. The CFTC stated Thursday that it had ordered bitcoin options trading platform Coinflip, and its CEO Francisco Riordan, to cease trading due to it not registering and complying with its regulations. It added that it had also filed, and simultaneously settled, charges against the San Francisco-based firm. This might mean a nervous couple of months for other unregistered bitcoin derivatives firms in the U.S. but also signaled that the cryptocurrency will now come under the CFTC's scope. "CFTC holds that bitcoin and other virtual currencies are a commodity covered by the commodity exchange act," the regulator said in a statement Thursday. Aitan Goelman, the CFTC's director of enforcement, added that "while there is a lot of excitement surrounding bitcoin...innovation does not excuse those acting in this space from following the same rules applicable to all participants in the commodity derivatives markets." Francisco Riordan was not immediately available for comment when contacted by CNBC. Bitcoin is a virtual currency that allows users to exchange online credits for goods and services. While there is no central bank that issues them, bitcoins can be created online by using a computer to complete difficult tasks, a process known as mining. As well as bitcoin exchanges and wallet services, a small but growing sector of derivatives firms selling products based on the digital currency have also sprung up in recent years. Crypto Facilities was set up in the U.K. this year by former bankers from Goldman Sachs, Morgan Stanley, BNP Paribas and Societe Generale. The platform pitches itself as a broker which specializes in bitcoin derivatives, and trades financial products like options and futures which are directly linked to the price of the cryptocurrency. Thus, it allows users to "go long" and bet that the price of bitcoin will rise, or "go short" and bet the price will fall. Technology enthusiasts, regulators and economists have been pondering how to pigeon hole bitcoin since its emergence in 2009. In August 2013, the German Finance Ministry classified it as a "unit of account", meaning it is can be used for tax and trading purposes in the country and is like "private money." View comments \|\| Bitcoins Officially Deemed A Commodity: It’s official: Bitcoins are a commodity in the U.S. The Commodity Futures Trading Commission (CFTC) said today that bitcoin, the cryptocurrency that has been gathering traction globally since the financial crisis of 2008, will be treated as a commodity for regulatory purposes, much like gold and oil. As such, trading in bitcoins should come under the same type of scrutiny that commodity trading does. The ruling is aimed specifically at derivatives trading firms that have been transacting in bitcoins without complying with CFTC rules. Must Follow Rules Like Others“While there is a lot of excitement surrounding bitcoin and other virtual currencies, innovation does not excuse those acting in this space from following the same rules applicable to all participants in the commodity derivatives markets,” Aitan Goelman, CFTC’s director of enforcement, said in apress release. For a long time, there’s been a debate on whether bitcoins should be classified as a currency or a commodity. The distinction matters to the extent that it dictates regulatory standards that apply to the still largely unregulated cryptocurrency. Last year, the Internal Revenue Service began to offer some clarity about the status of bitcoins bysayingthat virtual currencies such as bitcoins are “treated as property for U.S. federal tax purposes.” Winklevoss Bitcoin Trust In the ETF space, the ruling should have little—if any—impact on theWinklevoss Bitcoin Trust (COIN), which is currently in registration. COIN, if approved, could be the first bitcoin ETF in the market. TheARK Web x.0 ETF (ARKW \| D-30)hasan allocation to bitcoins, but it’s an Internet equity fund. According to theprospectusfiled with the Securities and Exchange Commission, COIN is designed under the assumption that bitcoin is a “digital commodity,” much like theSPDR Gold Trust (GLD \| A-100)is a physical commodity trust that owns gold, or the smallerMerk Gold ETF (OUNZ \| B-100), which owns physical gold and allows individual investors of any size to redeem shares for actual assets. “The trust [COIN] is expected from time to time to issue baskets in exchange for deposits of bitcoins and to distribute bitcoins in connection with redemptions of baskets,” according to the prospectus. Contact Cinthia Murphy [email protected]. Recommended stories • Gold Vs Platinum: ETF Prices Diverge • ETFs To Consider As US Oil Output Tumbles • Bitcoins Officially Deemed A Commodity • How An ETF Can Drop 100% In A Day • Bitcoins In This ETF Not What It Seems Permalink\| © Copyright 2015ETF.com.All rights reserved \|\| Bitcoins Officially Deemed A Commodity: Bitcoin prices have now rallied upward of 70 percent in the past 90 days50 percent in the past month alonethanks to a pickup in demand led by China. These gains are starting to show up in a pair of ETFs that offer some exposure to the crypto-currency. Its official: Bitcoins are a commodity in the U.S. The Commodity Futures Trading Commission (CFTC) said today that bitcoin, the cryptocurrency that has been gathering traction globally since the financial crisis of 2008, will be treated as a commodity for regulatory purposes, much like gold and oil. As such, trading in bitcoins should come under the same type of scrutiny that commodity trading does. The ruling is aimed specifically at derivatives trading firms that have been transacting in bitcoins without complying with CFTC rules. Must Follow Rules Like Others While there is a lot of excitement surrounding bitcoin and other virtual currencies, innovation does not excuse those acting in this space from following the same rules applicable to all participants in the commodity derivatives markets, Aitan Goelman, CFTCs director of enforcement, said in a press release. For a long time, theres been a debate on whether bitcoins should be classified as a currency or a commodity. The distinction matters to the extent that it dictates regulatory standards that apply to the still largely unregulated cryptocurrency. Last year, the Internal Revenue Service began to offer some clarity about the status of bitcoins by saying that virtual currencies such as bitcoins are treated as property for U.S. federal tax purposes. Winklevoss Bitcoin Trust In the ETF space, the ruling should have littleif anyimpact on the Winklevoss Bitcoin Trust (COIN) , which is currently in registration. COIN, if approved, could be the first bitcoin ETF in the market. The ARK Web x.0 ETF (ARKW \| D-30) has an allocation to bitcoins , but its an Internet equity fund. According to the prospectus filed with the Securities and Exchange Commission, COIN is designed under the assumption that bitcoin is a digital commodity, much like the SPDR Gold Trust (GLD \| A-100) is a physical commodity trust that owns gold, or the smaller Merk Gold ETF (OUNZ \| B-100) , which owns physical gold and allows individual investors of any size to redeem shares for actual assets. Story continues The trust [COIN] is expected from time to time to issue baskets in exchange for deposits of bitcoins and to distribute bitcoins in connection with redemptions of baskets, according to the prospectus. Contact Cinthia Murphy at [email protected] . Recommended stories Gold Vs Platinum: ETF Prices Diverge ETFs To Consider As US Oil Output Tumbles Bitcoins Officially Deemed A Commodity How An ETF Can Drop 100% In A Day Bitcoins In This ETF Not What It Seems Permalink \| © Copyright 2015 ETF.com. All rights reserved \|\| Bitcoins Officially Deemed A Commodity: It’s official: Bitcoins are a commodity in the U.S. The Commodity Futures Trading Commission (CFTC) said today that bitcoin, the cryptocurrency that has been gathering traction globally since the financial crisis of 2008, will be treated as a commodity for regulatory purposes, much like gold and oil. As such, trading in bitcoins should come under the same type of scrutiny that commodity trading does. The ruling is aimed specifically at derivatives trading firms that have been transacting in bitcoins without complying with CFTC rules. Must Follow Rules Like Others“While there is a lot of excitement surrounding bitcoin and other virtual currencies, innovation does not excuse those acting in this space from following the same rules applicable to all participants in the commodity derivatives markets,” Aitan Goelman, CFTC’s director of enforcement, said in apress release. For a long time, there’s been a debate on whether bitcoins should be classified as a currency or a commodity. The distinction matters to the extent that it dictates regulatory standards that apply to the still largely unregulated cryptocurrency. Last year, the Internal Revenue Service began to offer some clarity about the status of bitcoins bysayingthat virtual currencies such as bitcoins are “treated as property for U.S. federal tax purposes.” Winklevoss Bitcoin Trust In the ETF space, the ruling should have little—if any—impact on theWinklevoss Bitcoin Trust (COIN), which is currently in registration. COIN, if approved, could be the first bitcoin ETF in the market. TheARK Web x.0 ETF (ARKW \| D-30)hasan allocation to bitcoins, but it’s an Internet equity fund. According to theprospectusfiled with the Securities and Exchange Commission, COIN is designed under the assumption that bitcoin is a “digital commodity,” much like theSPDR Gold Trust (GLD \| A-100)is a physical commodity trust that owns gold, or the smallerMerk Gold ETF (OUNZ \| B-100), which owns physical gold and allows individual investors of any size to redeem shares for actual assets. “The trust [COIN] is expected from time to time to issue baskets in exchange for deposits of bitcoins and to distribute bitcoins in connection with redemptions of baskets,” according to the prospectus. Contact Cinthia Murphy [email protected]. Recommended stories • Gold Vs Platinum: ETF Prices Diverge • ETFs To Consider As US Oil Output Tumbles • Bitcoins Officially Deemed A Commodity • How An ETF Can Drop 100% In A Day • Bitcoins In This ETF Not What It Seems Permalink\| © Copyright 2015ETF.com.All rights reserved \|\| Cannabis Sativa Inc and THC Farmaceuticals’ Subsidiary, Terpene Research Labs (TRL) to Produce Terpenes Based on CBDS’ Patent Pending Strain: MESQUITE, NV / ACCESSWIRE / September 18, 2015 / Cannabis Sativa Inc ( CBDS ) and THC Farmaceuticals, Inc (CBDG) announced today that they have entered into an agreement for TRL to develop for CBDS terpene based products from CBDS' patent pending stain of Cannabis known as "CTA." As part of the agreement CBDG shall pay CBDS 10,000,000 hempcoins for the non-exclusive right to sell products TRL produces from the CTA strain plus a 5% cash royalty. CBDG will pay 35% royalty to CBDS on all fees or other gross revenues it receives from licensing products for others to produce products using CTA genetics. CBDS shall retain the right to sell the same products under its "Hi" brand (or such other of its brands in its sole discretion) and will pay a 5% royalty to TRL for all products sold using the terpene products developed by TRL. CBDS shall pay a royalty at the rate of 35% of gross revenue to CBDG for all terpene products developed by TRL and licensed by CBDS to other parties. CBDS also transfers to CBDG all rights to the CTA products developed by TRL for distribution outside of North America. CBDS granted CBDG a 3 year option to acquire all of the CTA plant and patent rights outside of North America for an additional 10,000,000 hempcoins. The option begins to run from the time that the first hempcoins are delivered to CBDS. Should this option be exercised, CBDG will then pay a royalty of 3% of gross revenues received from with respect to products produced by or for CBDG or any of its affiliates and 20% on all royalties it receives. The US Commodity Futures Trading Commission ruled yesterday that "[t]he definition of a commodity [being] broad... Bitcoin and other virtual currencies are encompassed in the definition and properly defined as commodities," the agency has turned our newest earned asset into a commodity. About Terpenes; Terpenes (/ˈtɜrpiːn/) are a large and diverse class of organic compounds, produced by a variety of plants. About Hempcoin : Hempcoins (HMP) is a litecoin type crypo-commodity that can be mined and is backed by shares of $RMTN. See: http://www.hempcoin.com . About CBDS: Cannabis Sativa, Inc. is in the business of branding and licensing via its 'hi' intellectual properties. The Company also offers the Wild Earth Naturals line of CBD Water and cosmetic products which are designed to use organic and natural ingredients, including CBD and hemp seed oil. The Company is engaged through its subsidiaries, Kush and Hi Brands International, Inc., in the research, development and licensing of specialized natural cannabis products, including cannabis formulas, edibles, topicals, strains, recipes and delivery systems. Story continues This press release contains "forward-looking statements." Although the forward-looking statements in this release reflect the good faith judgment of management, forward-looking statements are inherently subject to known and unknown risks and uncertainties that may cause actual results to be materially different from those discussed in these forward-looking statements. Readers are urged to carefully review and consider the various disclosures made by us in our reports filed with the Securities and Exchange Commission, including the risk factors that attempt to advise interested parties of the risks that may affect our business, financial condition, results of operation and cash flows. If one or more of these risks or uncertainties materialize, or if the underlying assumptions prove incorrect, our actual results may vary materially from those expected or projected. Readers are urged not to place undue reliance on these forward-looking statements, which speak only as of the date of this release. We assume no obligation to update any forward-looking statements in order to reflect any event or circumstance that may arise after the date of this release. Contact Information: Investor Relations Mesquite, NV 89027 702-345-4074 http://www.cbds.com SOURCE: Cannabis Sativa, Inc. View comments \|\| Cannabis Sativa Inc and THC Farmaceuticals’ Subsidiary, Terpene Research Labs (TRL) to Produce Terpenes Based on CBDS’ Patent Pending Strain: MESQUITE, NV / ACCESSWIRE / September 18, 2015 /Cannabis Sativa Inc (CBDS) and THC Farmaceuticals, Inc (CBDG) announced today that they have entered into an agreement for TRL to develop for CBDS terpene based products from CBDS' patent pending stain of Cannabis known as "CTA." As part of the agreement CBDG shall pay CBDS 10,000,000 hempcoins for the non-exclusive right to sell products TRL produces from the CTA strain plus a 5% cash royalty. CBDG will pay 35% royalty to CBDS on all fees or other gross revenues it receives from licensing products for others to produce products using CTA genetics. CBDS shall retain the right to sell the same products under its "Hi" brand (or such other of its brands in its sole discretion) and will pay a 5% royalty to TRL for all products sold using the terpene products developed by TRL. CBDS shall pay a royalty at the rate of 35% of gross revenue to CBDG for all terpene products developed by TRL and licensed by CBDS to other parties. CBDS also transfers to CBDG all rights to the CTA products developed by TRL for distribution outside of North America. CBDS granted CBDG a 3 year option to acquire all of the CTA plant and patent rights outside of North America for an additional 10,000,000 hempcoins. The option begins to run from the time that the first hempcoins are delivered to CBDS. Should this option be exercised, CBDG will then pay a royalty of 3% of gross revenues received from with respect to products produced by or for CBDG or any of its affiliates and 20% on all royalties it receives. The US Commodity Futures Trading Commission ruled yesterday that "[t]he definition of acommodity[being] broad... Bitcoin and other virtual currencies are encompassed in the definition and properly defined as commodities," the agency has turned our newest earned asset into a commodity. About Terpenes;Terpenes (/ˈtɜrpiːn/) are a large and diverse class of organic compounds, produced by a variety of plants. About Hempcoin: Hempcoins (HMP) is a litecoin type crypo-commodity that can be mined and is backed by shares of $RMTN. See:http://www.hempcoin.com. About CBDS:Cannabis Sativa, Inc. is in the business of branding and licensing via its 'hi' intellectual properties. The Company also offers the Wild Earth Naturals line of CBD Water and cosmetic products which are designed to use organic and natural ingredients, including CBD and hemp seed oil. The Company is engaged through its subsidiaries, Kush and Hi Brands International, Inc., in the research, development and licensing of specialized natural cannabis products, including cannabis formulas, edibles, topicals, strains, recipes and delivery systems. This press release contains "forward-looking statements." Although the forward-looking statements in this release reflect the good faith judgment of management, forward-looking statements are inherently subject to known and unknown risks and uncertainties that may cause actual results to be materially different from those discussed in these forward-looking statements. Readers are urged to carefully review and consider the various disclosures made by us in our reports filed with the Securities and Exchange Commission, including the risk factors that attempt to advise interested parties of the risks that may affect our business, financial condition, results of operation and cash flows. If one or more of these risks or uncertainties materialize, or if the underlying assumptions prove incorrect, our actual results may vary materially from those expected or projected. Readers are urged not to place undue reliance on these forward-looking statements, which speak only as of the date of this release. We assume no obligation to update any forward-looking statements in order to reflect any event or circumstance that may arise after the date of this release. Contact Information: Investor RelationsMesquite, NV 89027702-345-4074 http://www.cbds.com SOURCE:Cannabis Sativa, Inc. \|\| IBM Gets Behind Blockchain: While bitcoin and other cryptocurrencies have struggled to find mainstream appeal, blockchain, the ledger like technology that they run on, has been touted as one of the most important technological advancements of the past decade. The system has the ability to facilitate transactions in a way that many say will transform more than just the financial industry. That idea is now being put into practice by tech giant International Business Machines Corp. (NYSE: IBM ), as the company announced that it is working to use the technology to create a "smart contracts" system. Related Link: Buy Some Bitcoin With This ETF Smart Contracts The Wall Street Journal reported that IBM Research Senior Vice President Arvind Krishna said that the firm is working on a way to develop blockchain technology into a system that can facilitate contracts. The system is expected to eventually be released as open-source software and will likely give other big name companies reason to look into using the technology. Improving Business Transactions IBM's smart contracts system won't include the use of cryptocurrencies, but will instead draw on blockchain's ability to track individual transactions but keep the details private. The idea is to allow companies to embed rules into their contracts and allow the blockchain system to enforce them. One example the company is looking into would be a system that automatically pays for goods once they are delivered, however the possibilities for using the technology could reach into several aspects of business operations. See more from Benzinga IBM Uses Tennis To Demonstrate Its Dominance In Data U.S. Tech Firms Hope To Have A Say In New EU Digital Market Rules iBusiness, iPrograms: Apple Stretches Its Legs © 2015 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. View comments [Social Media Buzz] : Джекпот!!! Беспроигрышная Лотерея Bitcoin в прямом эфире каждое воскресенье в 16:00! Сделав активацию в 10 м... http://bit.ly/1PsYsGX \|\| @DthezgaR untuk semua rute hari ini beroperasi normal mulai pk. 11.00. Di BTC ada booth Arnes Shuttle (pick up point). \|\| Be judicious, buy your bitcoins at https://Bittylicious.com/refer/2465 £156.00 per BTC. (BPI +3.79%) #buy #bitcoin #banktrans \|\| In the last 10 mins, there were arb opps spanning 15 exchange pair(s), yielding profits ranging between $0.0...	234.53, 235.14, 234.34, 232.76, 239.14, 236.69, 236.06, 237.55, 237.29, 238.73
Given the historical Bitcoin prices from the last 90 days, predict the next 10 daily closing prices. The historical prices are: 7459.69, 7143.58, 6618.14, 6357.60, 5950.07, 6559.49, 6635.75, 7315.54, 7871.69, 7708.99, 7790.15, 8036.49, 8200.64, 8071.26, 8253.55, 8038.77, 8253.69, 8790.92, 9330.55, 9818.35, 10058.80, 9888.61, 10233.60, 10975.60, 11074.60, 11323.20, 11657.20, 11916.70, 14291.50, 17899.70, 16569.40, 15178.20, 15455.40, 16936.80, 17415.40, 16408.20, 16564.00, 17706.90, 19497.40, 19140.80, 19114.20, 17776.70, 16624.60, 15802.90, 13831.80, 14699.20, 13925.80, 14026.60, 16099.80, 15838.50, 14606.50, 14656.20, 12952.20, 14156.40, 13657.20, 14982.10, 15201.00, 15599.20, 17429.50, 17527.00, 16477.60, 15170.10, 14595.40, 14973.30, 13405.80, 13980.60, 14360.20, 13772.00, 13819.80, 11490.50, 11188.60, 11474.90, 11607.40, 12899.20, 11600.10, 10931.40, 10868.40, 11359.40, 11259.40, 11171.40, 11440.70, 11786.30, 11296.40, 10106.30, 10221.10, 9170.54, 8830.75, 9174.91, 8277.01, 6955.27.	[Bitcoin Technical Analysis for 2018-02-05] Volume: 9285289984, RSI (14-day): 26.18, 50-day EMA: 11864.46, 200-day EMA: 8921.98 [Wider Market Context] Gold Price: 1333.00, Gold RSI: 54.88 Oil Price: 64.15, Oil RSI: 55.31 [Recent News (last 7 days)] DoubleLine's Jeffrey Gundlach: 'Hard to love bonds at even 3 pct' yield: By Jennifer Ablan NEW YORK, Feb 4 (Reuters) - Jeffrey Gundlach, the chief executive of DoubleLine Capital, says "it is hard to love bonds at even 3 percent" yield, given the backdrop for accelerating economic growth in the U.S. "It seems the tradable buy on bonds will need a flight-to-safety bid on a wave of fear washing over risk markets," Gundlach told Reuters late on Saturday. "Hard to love bonds at even 3 percent when GDPNow for Q1 2018 is suggesting annualized nominal GDP growth above 7 percent." The 10-year Treasury yield hit a four-year high on Friday after the latest jobs report showed solid wage gains, effectively confirming the expected rate increase at the Federal Reserve’s next meeting in March. Friday’s selloff contributed to the broad decline in U.S. government paper within the last week as inflation fears, strong economic data and an announcement of bigger Treasury auctions drove yields higher. The yield on the 10-year Treasury note climbed 7.9 basis points to 2.852 percent, the highest since January 2014. "Treasury yields have been rising at a pace above 200 basis points annualized on parts of the (yield) curve since September," said Gundlach, known as Wall Street's Bond King. "This is partly caused by the manic mood and partly caused by the falling dollar and related rising commodities. Rates up significantly and dollar down significantly with exploding deficits is a dangerous cocktail reminiscent of 1987." Last month, Gundlach predicted the S&P 500 may go up 15 percent in the first part of the year, but "I believe, when it falls, it will wipe out the entire gain of the first part of the year with a negative sign in front of it." On Saturday, Gundlach said: "What matters to success this year is understanding that we entered a mania phase in 2017 that went completely out of control after September with the Bitcoin blowoff exhibiting exactly the same lunacy as the dot com blow off back in late 1999. "Similar to that period, but even more excessive this time -who’d have thought it possible - is the explosion of bullish sentiment, with some surveys registering 96 percent, 97 percent, even 100 percent bullish respondents. Long Island Blockchain. Kodakcoin. Cryptokitties. Sheer madness." Gundlach said overall, the U.S. stock market is an odds-on favorite to turn in a negative return for 2018. "Whether Friday is the start of a crash or just the first chapter in the topping process is not the issue," he said. (Reporting By Jennifer Ablan; Editing by Susan Thomas) \|\| DoubleLine's Jeffrey Gundlach: 'Hard to love bonds at even 3 pct' yield: By Jennifer Ablan NEW YORK, Feb 4 (Reuters) - Jeffrey Gundlach, the chief executive of DoubleLine Capital, says "it is hard to love bonds at even 3 percent" yield, given the backdrop for accelerating economic growth in the U.S. "It seems the tradable buy on bonds will need a flight-to-safety bid on a wave of fear washing over risk markets," Gundlach told Reuters late on Saturday. "Hard to love bonds at even 3 percent when GDPNow for Q1 2018 is suggesting annualized nominal GDP growth above 7 percent." The 10-year Treasury yield hit a four-year high on Friday after the latest jobs report showed solid wage gains, effectively confirming the expected rate increase at the Federal Reserve’s next meeting in March. Friday’s selloff contributed to the broad decline in U.S. government paper within the last week as inflation fears, strong economic data and an announcement of bigger Treasury auctions drove yields higher. The yield on the 10-year Treasury note climbed 7.9 basis points to 2.852 percent, the highest since January 2014. "Treasury yields have been rising at a pace above 200 basis points annualized on parts of the (yield) curve since September," said Gundlach, known as Wall Street's Bond King. "This is partly caused by the manic mood and partly caused by the falling dollar and related rising commodities. Rates up significantly and dollar down significantly with exploding deficits is a dangerous cocktail reminiscent of 1987." Last month, Gundlach predicted the S&P 500 may go up 15 percent in the first part of the year, but "I believe, when it falls, it will wipe out the entire gain of the first part of the year with a negative sign in front of it." On Saturday, Gundlach said: "What matters to success this year is understanding that we entered a mania phase in 2017 that went completely out of control after September with the Bitcoin blowoff exhibiting exactly the same lunacy as the dot com blow off back in late 1999. "Similar to that period, but even more excessive this time -who’d have thought it possible - is the explosion of bullish sentiment, with some surveys registering 96 percent, 97 percent, even 100 percent bullish respondents. Long Island Blockchain. Kodakcoin. Cryptokitties. Sheer madness." Gundlach said overall, the U.S. stock market is an odds-on favorite to turn in a negative return for 2018. "Whether Friday is the start of a crash or just the first chapter in the topping process is not the issue," he said. (Reporting By Jennifer Ablan; Editing by Susan Thomas) \|\| The "Stories" Format Will Dominate Social Media in 2018: Mark Zuckerberg knows a few things about trends in social media. He acquired Instagram when it was still in its infancy, and he attempted to buy Snapchat when it was still relatively small.Facebook(NASDAQ: FB)has also successfully copied features and formats from other apps, such as hashtags and Stories. So when Zuckerberg said on onFacebook's fourth-quarter earnings callthat, "Stories are on track to overtake posts in feeds as the most common way that people share across all social apps," my ears perked up. In fact, Stories -- user-generated photo or video collections that disappear after 24 hours -- have become so popular that Zuckerberg said it "will have an impact on how we build products and think about our business." The growth of Stories presents yet another opportunity for Facebook. Image source: Instagram. Stories is most popular in Instagram and WhatsApp, which each have over 300 million daily active users for the feature. By comparison,Snap's(NYSE: SNAP)Snapchat has just 178 million daily users as of the end of the third quarter, and about140 millionpeople use Snapchat Stories on a daily basis. Facebook Stories -- which are displayed across the Facebook app and Messenger -- has another 70 million daily users. But the Stories format -- on both Facebook's and Snap's apps -- remains relatively under-monetized. Facebook stands to benefit from the same ad features Snap has been touting for a few years now: "It's full screen, it's authentic, and it's very engaging," Facebook COO Sheryl Sandberg said. Snap's success selling Snap Ads, however, has been limited. After opening up its self-serve ad platform, Snap saw tepid demand for its ad products resulting ina decline in average ad prices. Most advertisers that have tried Snap Ads find it an ineffective use of their budgets, according to a recent eMarketer survey. But Snap's struggles may be tied more closely to its relatively poor targeting capabilities, not to the ad format itself. Facebook, by comparison, has some of the best targeting and measuring capabilities in the world. Combining those capabilities with the new Stories ad format will be "really powerful in the business of our clients," Sandberg said. It's been a year and half since Facebook CFO Dave Wehner warned that ad revenue growth will slow down now that it's reached ad load saturation in its news feed. Again, he forecasted that ad impressions will grow "at a modest pace" in 2018. To his credit, the growth in ad impressions has slowed significantly, dropping to just 4% growth year over year in the fourth quarter. But Sandberg's commentary that ads in Stories remain "a small but quickly growing part of our revenue" implies there's a lot of room to ramp up ads in Stories. That could result in ad impressions growth that starts to outpace user growth once again at some point in the future. That's especially true considering Zuckerberg's commentary that Stories will be a more common way of sharing than feed posts this year and that it will affect how management thinks about the business. Instagram is still relatively nascent in its journey toward becoming yet anotherad revenue machinefor Facebook. It currently counts 2 million active advertisers, compared with Facebook's 6 million. But Facebook's ad buying platform is set up to funnel advertisers on Facebook onto Instagram, so it's only a matter of time before that gap gets a lot smaller. And while Instagram counts just 800 million monthly active users compared with Facebook's 2.1 billion, Instagram isgrowing quickly. Meanwhile, Facebook is just reaching the very early stages of monetization in WhatsApp. The popularity of Stories in that app -- which has 1.5 billion monthly active users -- could bring a ton of businesses into the WhatsApp ecosystem, opening further revenue opportunities beyond advertising for the messaging app. Changes to news feedcould put some pressure on ad impressions, but management expects the impact to be modest, if not negligible. Facebook will be able to offset any impact from the changes with growth in Stories ads. And considering the high potential value they can deliver thanks to Facebook's targeting and measurement tools, it should help keep average ad prices elevated as well. More From The Motley Fool • 3 Growth Stocks at Deep-Value Prices • 5 Expected Social Security Changes in 2018 • 6 Years Later, 6 Charts That Show How Far Apple, Inc. Has Come Since Steve Jobs' Passing • 10 Best Stocks to Buy Today • The $16,122 Social Security Bonus You Cannot Afford to Miss • Bitcoin's Biggest Competitor Isn't Ethereum -- It's This Adam Levyhas no position in any of the stocks mentioned. The Motley Fool owns shares of and recommends Facebook. The Motley Fool has the following options: short March 2018 $200 calls on Facebook and long March 2018 $170 puts on Facebook. The Motley Fool has adisclosure policy. \|\| The "Stories" Format Will Dominate Social Media in 2018: Mark Zuckerberg knows a few things about trends in social media. He acquired Instagram when it was still in its infancy, and he attempted to buy Snapchat when it was still relatively small. Facebook (NASDAQ: FB) has also successfully copied features and formats from other apps, such as hashtags and Stories. So when Zuckerberg said on on Facebook's fourth-quarter earnings call that, "Stories are on track to overtake posts in feeds as the most common way that people share across all social apps," my ears perked up. In fact, Stories -- user-generated photo or video collections that disappear after 24 hours -- have become so popular that Zuckerberg said it "will have an impact on how we build products and think about our business." The growth of Stories presents yet another opportunity for Facebook. Three cell phone screenshots of Instagram Stories Image source: Instagram. Stories is under-monetized Stories is most popular in Instagram and WhatsApp, which each have over 300 million daily active users for the feature. By comparison, Snap 's (NYSE: SNAP) Snapchat has just 178 million daily users as of the end of the third quarter, and about 140 million people use Snapchat Stories on a daily basis. Facebook Stories -- which are displayed across the Facebook app and Messenger -- has another 70 million daily users. But the Stories format -- on both Facebook's and Snap's apps -- remains relatively under-monetized. Facebook stands to benefit from the same ad features Snap has been touting for a few years now: "It's full screen, it's authentic, and it's very engaging," Facebook COO Sheryl Sandberg said. Snap's success selling Snap Ads, however, has been limited. After opening up its self-serve ad platform, Snap saw tepid demand for its ad products resulting in a decline in average ad prices . Most advertisers that have tried Snap Ads find it an ineffective use of their budgets, according to a recent eMarketer survey. But Snap's struggles may be tied more closely to its relatively poor targeting capabilities, not to the ad format itself. Facebook, by comparison, has some of the best targeting and measuring capabilities in the world. Combining those capabilities with the new Stories ad format will be "really powerful in the business of our clients," Sandberg said. Story continues Expecting modest ad impression growth It's been a year and half since Facebook CFO Dave Wehner warned that ad revenue growth will slow down now that it's reached ad load saturation in its news feed. Again, he forecasted that ad impressions will grow "at a modest pace" in 2018. To his credit, the growth in ad impressions has slowed significantly, dropping to just 4% growth year over year in the fourth quarter. But Sandberg's commentary that ads in Stories remain "a small but quickly growing part of our revenue" implies there's a lot of room to ramp up ads in Stories. That could result in ad impressions growth that starts to outpace user growth once again at some point in the future. That's especially true considering Zuckerberg's commentary that Stories will be a more common way of sharing than feed posts this year and that it will affect how management thinks about the business. Instagram is still relatively nascent in its journey toward becoming yet another ad revenue machine for Facebook. It currently counts 2 million active advertisers, compared with Facebook's 6 million. But Facebook's ad buying platform is set up to funnel advertisers on Facebook onto Instagram, so it's only a matter of time before that gap gets a lot smaller. And while Instagram counts just 800 million monthly active users compared with Facebook's 2.1 billion, Instagram is growing quickly . Meanwhile, Facebook is just reaching the very early stages of monetization in WhatsApp. The popularity of Stories in that app -- which has 1.5 billion monthly active users -- could bring a ton of businesses into the WhatsApp ecosystem, opening further revenue opportunities beyond advertising for the messaging app. Changes to news feed could put some pressure on ad impressions, but management expects the impact to be modest, if not negligible. Facebook will be able to offset any impact from the changes with growth in Stories ads. And considering the high potential value they can deliver thanks to Facebook's targeting and measurement tools, it should help keep average ad prices elevated as well. More From The Motley Fool 3 Growth Stocks at Deep-Value Prices 5 Expected Social Security Changes in 2018 6 Years Later, 6 Charts That Show How Far Apple, Inc. Has Come Since Steve Jobs' Passing 10 Best Stocks to Buy Today The $16,122 Social Security Bonus You Cannot Afford to Miss Bitcoin's Biggest Competitor Isn't Ethereum -- It's This Adam Levy has no position in any of the stocks mentioned. The Motley Fool owns shares of and recommends Facebook. The Motley Fool has the following options: short March 2018 $200 calls on Facebook and long March 2018 $170 puts on Facebook. The Motley Fool has a disclosure policy . \|\| 3 Positives From Apple Inc.'s Earnings Report: On Feb. 1, Apple (NASDAQ: AAPL) reported financial results for the first quarter of its fiscal 2018. Typically, the first quarter in any given fiscal year is the most important for Apple because it's typically the peak quarter for the year and sets the pace for the rest of the fiscal year. That peak occurs because Apple tends to announce new iPhone models at the very end of a fiscal year, making the first quarter of the following fiscal year the peak for Apple's iPhone business. iPhone sales made up more than 60% of Apple's total revenue in its fiscal year 2017, so as the iPhone business trends, so too does Apple's overall business. Apple's iPhone X front (left) and back (right) in silver. Image source: Apple. I'd like to look at three things that were really encouraging from Apple's Q1 2018 results. 1. iPhone average selling price boost Apple reported that iPhone revenue grew 13% year over year in its most recent quarter, with unit shipments down 1% over that same period. The dramatic revenue increase paired with the slight unit shipment decline indicates that Apple saw a sharp uptick in iPhone average selling prices during the quarter. There was little doubt that Apple would see some degree of average selling price growth in the quarter, since Apple's latest iPhone lineup includes the iPhone X, which starts at $999 and tops out at $1,149. In the same quarter a year ago, Apple's highest-end iPhone was the iPhone 7 Plus, which started at $769 and maxed out at $969. Apple's iPhone 8 Plus (left) and iPhone 8 (right) Image source: Apple. However, the magnitude of the year-over-year iPhone selling price increase indicates that sales of the pricey iPhone X made up a substantial portion of Apple's iPhone shipments, a notion corroborated by Apple CEO Tim Cook's claim that the iPhone X has been the best-selling iPhone model since its introduction in early November. With the iPhone X, Apple has proved that a significant portion of its customer base is willing to pay more for its most advanced iPhone models. This should give Apple the confidence to continue to release feature-rich products at higher price points in addition to more cost-sensitive products at lower price points . Story continues 2. More iPad growth One product category that had been on the decline for quite some time was Apple's iPad business. Fortunately for Apple, the segment returned to growth in the third quarter of its fiscal 2017 and accelerated its growth in Q4 2017. The good news is that Apple's iPad business kicked off the current fiscal year with another quarter of year-over-year growth. In the first quarter of fiscal 2018, Apple reported year-over-year iPad unit shipment growth of 1% and revenue growth of 6%. It's important to note that the first quarter of fiscal 2018 was a 13-week quarter, while Q1 2017 had 14 weeks, which means the growth Apple's iPad business saw in the first quarter of fiscal 2018 was, effectively, even better than reported. According to Apple CFO Luca Maestri, the company's iPad business enjoyed average weekly revenue growth of 8%, driven by "strong double-digit" percentage revenue growth in many emerging markets as well as some developed markets. It seems Apple's iPad business now enjoys some degree of stability. If Apple can continue to grow the business, that'd be fantastic, though even just keeping things roughly flat so that the iPad business doesn't weigh down the successes of Apple's other businesses would be acceptable, too. 3. The amazing Apple Watch During Apple's most recent earnings call, management said the Apple Watch business saw "over 50% growth in revenue and units for the fourth quarter in a row " and "strong double-digit growth in every geographic segment." As if that weren't already great news, Apple revealed that shipment volumes of its latest Apple Watch Series 3 models, which came in variants with cellular capability installed , were up by more than 100% over the volumes the prior-generation Apple Watch Series 2 models saw last year. There's no doubt at this point that the Apple Watch is a successful product category that could increasingly fuel Apple's overall revenue growth. More From The Motley Fool 3 Growth Stocks at Deep-Value Prices 5 Expected Social Security Changes in 2018 6 Years Later, 6 Charts That Show How Far Apple, Inc. Has Come Since Steve Jobs' Passing 10 Best Stocks to Buy Today The $16,122 Social Security Bonus You Cannot Afford to Miss Bitcoin's Biggest Competitor Isn't Ethereum -- It's This Ashraf Eassa has no position in any of the stocks mentioned. The Motley Fool owns shares of and recommends Apple. The Motley Fool has the following options: long January 2020 $150 calls on Apple and short January 2020 $155 calls on Apple. The Motley Fool has a disclosure policy . \|\| 3 Positives From Apple Inc.'s Earnings Report: On Feb. 1,Apple(NASDAQ: AAPL)reported financial results for the first quarter of its fiscal 2018. Typically, the first quarter in any given fiscal year is the most important for Apple because it's typically the peak quarter for the year and sets the pace for the rest of the fiscal year. That peak occurs because Apple tends to announce new iPhone models at the very end of a fiscal year, making the first quarter of the following fiscal year the peak for Apple's iPhone business. iPhone sales made up more than 60% of Apple's total revenue in its fiscal year 2017, so as the iPhone business trends, so too does Apple's overall business. Image source: Apple. I'd like to look at three things that were really encouraging from Apple's Q1 2018 results. Apple reported that iPhone revenue grew 13% year over year in its most recent quarter, with unit shipments down 1% over that same period. The dramatic revenue increase paired with the slight unit shipment decline indicates that Apple saw a sharp uptick in iPhone average selling prices during the quarter. There was little doubt that Apple would see some degree of average selling price growth in the quarter, since Apple's latest iPhone lineup includes the iPhone X, which starts at $999 and tops out at $1,149. In the same quarter a year ago, Apple's highest-end iPhone was the iPhone 7 Plus, which started at $769 and maxed out at $969. Image source: Apple. However, the magnitude of the year-over-year iPhone selling price increase indicates that sales of the pricey iPhone X made up a substantial portion of Apple's iPhone shipments, a notion corroborated by Apple CEO Tim Cook's claim that the iPhone X has been the best-selling iPhone model since its introduction in early November. With the iPhone X, Apple has proved that a significant portion of its customer base is willing to pay more for its most advanced iPhone models. This should give Apple the confidence to continue to release feature-rich products athigher price points in addition to more cost-sensitive products at lower price points. One product category that had been on the decline for quite some time was Apple's iPad business. Fortunately for Apple, the segment returned to growth in the third quarter of its fiscal 2017 and accelerated its growth in Q4 2017. The good news is that Apple's iPad business kicked off the current fiscal year with another quarter of year-over-year growth. In the first quarter of fiscal 2018, Apple reported year-over-year iPad unit shipment growth of 1% and revenue growth of 6%. It's important to note that the first quarter of fiscal 2018 was a 13-week quarter, while Q1 2017 had 14 weeks, which means the growth Apple's iPad business saw in the first quarter of fiscal 2018 was, effectively, even better than reported. According to Apple CFO Luca Maestri, the company's iPad business enjoyed average weekly revenue growth of 8%, driven by "strong double-digit" percentage revenue growth in many emerging markets as well as some developed markets. It seems Apple's iPad business now enjoys some degree of stability. If Apple can continue to grow the business, that'd be fantastic, though even just keeping things roughly flat so that the iPad business doesn't weigh down the successes of Apple's other businesses would be acceptable, too. During Apple's most recent earnings call, management said the Apple Watch business saw "over 50% growth in revenue and units for thefourth quarter in a row" and "strong double-digit growth in every geographic segment." As if that weren't already great news, Apple revealed that shipment volumes of its latest Apple Watch Series 3 models, which came in variants withcellular capability installed, were up by more than 100% over the volumes the prior-generation Apple Watch Series 2 models saw last year. There's no doubt at this point that the Apple Watch is a successful product category that could increasingly fuel Apple's overall revenue growth. More From The Motley Fool • 3 Growth Stocks at Deep-Value Prices • 5 Expected Social Security Changes in 2018 • 6 Years Later, 6 Charts That Show How Far Apple, Inc. Has Come Since Steve Jobs' Passing • 10 Best Stocks to Buy Today • The $16,122 Social Security Bonus You Cannot Afford to Miss • Bitcoin's Biggest Competitor Isn't Ethereum -- It's This Ashraf Eassahas no position in any of the stocks mentioned. The Motley Fool owns shares of and recommends Apple. The Motley Fool has the following options: long January 2020 $150 calls on Apple and short January 2020 $155 calls on Apple. The Motley Fool has adisclosure policy. \|\| MarketAxess Holdings Inc. Boosts Dividend by 27%: MarketAxess Holdings (NASDAQ: MKTX) reported fourth-quarter results on Jan. 31. The electronic trading platform for corporate bonds and other fixed-income securities continues to dominate its core markets, prompting management to boost its cash payout to investors. MarketAxess: The raw numbers Metric Q4 2017 Q4 2016 Year-Over-Year Change Revenue $99.565 million $94.436 million 5% Pre-tax income $49.371 million $50.327 million (2%) Earnings per share $0.88 $0.88 0% Data source: MarketAxess Q4 2017 earnings release . What happened with MarketAxess this quarter? Global trading volume grew by 5%, to $355.6 billion, fueled by a 26% jump in emerging-market trading volume. Notably, MarketAxess' share of the U.S. high-grade and high-yield electronic market rose to an estimated 86% in 2017, up from 80% the prior year, according to a study by Greenwich Associates. MarketAxess' revenue increased 5.4% to $99.6 million, driven by a 2.9% rise in commission revenue, to $88 million, and a 30% climb in all other revenue (information services, post-trade services, and investment), to $11.6 million. Operating expenses increased 13.8% to $50.2 million, mostly because of higher employee compensation and technology costs. In turn, pre-tax income declined 1.9% to $49.4 million, as pre-tax margin fell to 49.6% from 53.3% in the year-ago quarter. All told, net income -- aided by a lower effective tax rate -- inched up less than 1% to $33.5 million, or $0.88 per share. Cash flow and capital returns For the full year, MarketAxess produced $160 million in free cash flow , up from $145 million in 2016. Management remains committed to passing a sizable portion of this cash on to shareholders; the company boosted its quarterly dividend by 27%, to $0.42. A person handing cash to the outstretched hand of another person MarketAxess will be paying out more cash to investors in the year ahead. Image source: Getty Images. Looking forward Management expects 2018 full-year expenses in the range of $220 million to $232 million and capital expenditures of $43 million to $50 million. Story continues MarketAxess also anticipates that its effective tax rate will fall to between 23% and 25%, down from 26.6% in 2017, mainly because of the impact of the Tax Act. "As we enter 2018, we are encouraged to see signs of more normal fixed-income trading conditions, including improving global economic growth and declining central bank quantitative easing," the company said in a press release. "Client adoption of electronic trading in fixed income continues to grow, and our international client diversification creates a valuable foundation for long-term growth." More From The Motley Fool 3 Growth Stocks at Deep-Value Prices 5 Expected Social Security Changes in 2018 6 Years Later, 6 Charts That Show How Far Apple, Inc. Has Come Since Steve Jobs' Passing 10 Best Stocks to Buy Today The $16,122 Social Security Bonus You Cannot Afford to Miss Bitcoin's Biggest Competitor Isn't Ethereum -- It's This Joe Tenebruso has no position in any of the stocks mentioned. The Motley Fool recommends MarketAxess Holdings. The Motley Fool has a disclosure policy . \|\| MarketAxess Holdings Inc. Boosts Dividend by 27%: MarketAxessHoldings(NASDAQ: MKTX)reported fourth-quarter results on Jan. 31. The electronic trading platform for corporate bonds and otherfixed-incomesecurities continues to dominate its core markets, prompting management to boost its cash payout to investors. [{"Metric": "Revenue", "Q4 2017": "$99.565 million", "Q4 2016": "$94.436 million", "Year-Over-Year Change": "5%"}, {"Metric": "Pre-tax income", "Q4 2017": "$49.371 million", "Q4 2016": "$50.327 million", "Year-Over-Year Change": "(2%)"}, {"Metric": "Earnings per share", "Q4 2017": "$0.88", "Q4 2016": "$0.88", "Year-Over-Year Change": "0%"}] Data source: MarketAxess Q4 2017earnings release. Global trading volume grew by 5%, to $355.6 billion, fueled by a 26% jump in emerging-market trading volume. Notably, MarketAxess' share of the U.S. high-grade and high-yield electronic market rose to an estimated 86% in 2017, up from 80% the prior year, according to a study by Greenwich Associates. MarketAxess' revenue increased 5.4% to $99.6 million, driven by a 2.9% rise in commission revenue, to $88 million, and a 30% climb in all other revenue (information services, post-trade services, and investment), to $11.6 million. Operating expenses increased 13.8% to $50.2 million, mostly because of higher employee compensation and technology costs. In turn, pre-tax income declined 1.9% to $49.4 million, as pre-tax margin fell to 49.6% from 53.3% in the year-ago quarter. All told, net income -- aided by a lower effective tax rate -- inched up less than 1% to $33.5 million, or $0.88 per share. For the full year, MarketAxess produced $160 million infree cash flow, up from $145 million in 2016. Management remains committed to passing a sizable portion of this cash on to shareholders; the company boosted its quarterly dividend by 27%, to $0.42. MarketAxess will be paying out more cash to investors in the year ahead. Image source: Getty Images. Management expects 2018 full-year expenses in the range of $220 million to $232 million and capital expenditures of $43 million to $50 million. MarketAxess also anticipates that its effective tax rate will fall to between 23% and 25%, down from 26.6% in 2017, mainly because of the impact of the Tax Act. "As we enter 2018, we are encouraged to see signs of more normal fixed-income trading conditions, including improving global economic growth and declining central bank quantitative easing," the company said in a press release. "Client adoption of electronic trading in fixed income continues to grow, and our international client diversification creates a valuable foundation for long-term growth." More From The Motley Fool • 3 Growth Stocks at Deep-Value Prices • 5 Expected Social Security Changes in 2018 • 6 Years Later, 6 Charts That Show How Far Apple, Inc. Has Come Since Steve Jobs' Passing • 10 Best Stocks to Buy Today • The $16,122 Social Security Bonus You Cannot Afford to Miss • Bitcoin's Biggest Competitor Isn't Ethereum -- It's This Joe Tenebrusohas no position in any of the stocks mentioned. The Motley Fool recommends MarketAxess Holdings. The Motley Fool has adisclosure policy. \|\| Stock market preview, February 5: New year, new markets. After a 2017 that saw stocks drift higher while markets exploded to the upside in the early weeks of 2018, this past weeks trading showed that another placid does not appear to be in store for investors. Punctuated by Fridays sell-off, the major averages lost over 3% this past week to begin February on a downbeat note. The selling on Friday was relentless as markets broke lower at the open and continued to slide throughout the day. When the dust settled, the Dow lost 2.5%, or 665 points, while the S&P 500 lost 2.1%, or 59 points, and the Nasdaq lost just under 2%, or 144 points. Meanwhile, Treasury yields continued their climb higher during the week with the 10-year hitting a four-year high of 2.85% after Fridays jobs report. It was only back in the summer of 2016 that the 10-year hit a record low of 1.37%. Each of the major averages lost more than 3% this week with the Dow declining almost 4%. (Source: Yahoo Finance) In the week ahead, earnings will continue to be the big market story with notable reporters including Tesla ( TSLA ), Disney ( DIS ), Nvidia ( NVDA ), General Motors ( GM ), Gilead ( GILD ), Chipotle ( CMG ), 21st Century Fox ( FOXA ), Viacom ( VIAB ), Yum Brands ( YUM ), Expedia ( EXPE ), and Philip Morris ( PM ) among dozens of other S&P 500 members. All told, 92 members of the S&P 500 are expected to report results this week. Disney CEO Bob Iger, middle, at the New York Stock Exchange with Mickey Mouse. The economic calendar will slow some after a week that saw both a Federal Reserve policy announcement and a jobs report, with the monthly reading on job openings the only economic reading of any note. Meanwhile cryptocurrencies, once-biggest story in markets, were decimated this week with bitcoin ( BTC-USD ) at one point on Friday falling below the $8,000 mark while smaller coins including Litecoin ( LTC-USD ), Bitcoin Cash ( BCH-USD ), Cardano ( ADA-USD ), and Ripple ( XRP-USD ) each lost more than 30% this week. And amid this latest decline in cryptocurrency prices, Yahoo Finance will host its latest All Markets Summit in New York on Wednesday, with this edition of the event focused solely on cryptocurrencies. And of course on Sunday, Super Bowl LII will take place in Minneapolis, pitting the Philadelphia Eagles against the New England Patriots. Many investors will be familiar with the Super Bowl Indicator , which says it is better when a team from the NFC in this years case, the Eagles wins the game, with markets gaining, on average, 10.8% in years the NFC team wins against an average rise of 5.8% when the AFC wins. Of course, last year the Patriots won and the market gained 20%, which just proves that the real Super Bowl Indicator says stocks tend to go up in years a Super Bowl is played. Story continues The Eagles will play the Patriots in the Super Bowl on Sunday evening. Stock market history suggests an Eagles victory would be better for markets, but the Super Bowl Indicator really means nothing. Economic calendar Monday: Markit services PMI, January (53.3 expected; 53.3 previously); ISM non-manufacturing PMI, January (56.5 expected; 55.9 previously) Tuesday: Trade balance, December (-$52 billion expected; -$50.5 billion previously); Job openings and labor turnover survey, December (5.88 million jobs open previously) Wednesday: Consumer credit, December ($19.3 billion expected; $27.95 billion previously) Thursday : Initial jobless claims (232,000 expected; 230,000 previously) Friday: Wholesale inventories, December (+0.2% expected; +0.2% previously) Stocks go up and down There is no reason to scoff at the market action this week. Stocks had their worst week in two years, the Dow lost 665 points on Friday, and the kind of volatility that so many had warned would inevitably return to markets has, well, returned. The increase in Treasury yields from record lows back in the summer of 2016 to four-year highs this week is the most obvious catalyst sending markets lower. The benchmark 10-year Treasury rate, so often used as the risk-free rate for investors that must be exceeded to find an attractive risk-adjusted investment, is now at 2.85%. We are now firmly in a rising-rate environment. And on the heels of Fridays jobs report that saw wage growth top expectations markets are now anticipating a more aggressive Federal Reserve, with markets now pricing in a 50% probability, or more, of a rate in each quarter of 2018. Yet after this ugly week for investors, the stock market is still up nicely for the year each of the major indexes are up better than 3%. But after more than a year of markets having not seen a 3% decline, the recent action feels perhaps more traumatic than it really is. A pullback doesnt have to mean the bull market is over, said analysts at Bespoke Investment Group in a note published Friday afternoon. And with the recent chorus of analysts looking for a decline, part of this weeks action is surely a self-fulfilling prophecy. If enough market participants call for and expect a market decline, there will in time be a market decline. But if the fundamental reasons for the market going up over the last year was lower taxes, better corporate earnings, and good economic data, than nothing has really changed. On the earnings front, this season couldnt look much better, even with analysts hiking estimates at their fastest pace in years as we entered this reporting period, Bespoke writes. Both the earnings and revenue beat rates this season are at their highest levels in at least a decade. And while beat rates are backwards looking, the guidance spread this season is at a record as well. The economic view from corporate America, in other words, is stellar. And so while it is notable any time the market rises or falls 3% in a week, these moves need not and often do not change the story of why the markets current trend is what it is. Right now, the market trend is up. And this weeks action does not change that story. Myles Udland is a writer at Yahoo Finance. Follow him on Twitter @MylesUdland Read more from Myles here: One candidate for Amazons next headquarters looks like a clear frontrunner Tax cuts are going to keep being a boon for the shareholder class Auto sales declined for the first time since the financial crisis in 2017 The markets story of 2017 real returns, fake news Evidence shows corporate tax cuts dont work Foreign investors might be the key to forecasting a U.S. recession Its been 17 years since U.S. consumers felt this good about the economy View comments \|\| Tesla, Disney, All Markets Summit — What you need to know in markets this week: New year, new markets. After a 2017 that saw stocks drift higher while markets exploded to the upside in the early weeks of 2018, this past week’s trading showed that another placid does not appear to be in store for investors. Punctuated by Friday’s sell-off, the major averages lost over 3% this past week to begin February on a downbeat note. The selling on Friday was relentless as markets broke lower at the open and continued to slide throughout the day. When the dust settled, the Dow lost 2.5%, or 665 points, while the S&P 500 lost 2.1%, or 59 points, and the Nasdaq lost just under 2%, or 144 points. Meanwhile, Treasury yields continued their climb higher during the week with the 10-year hitting a four-year high of 2.85% after Friday’s jobs report. It was only back in the summer of 2016 that the 10-year hit a record low of 1.37%. In the week ahead, earnings will continue to be the big market story with notable reporters including Tesla (TSLA), Disney (DIS), Nvidia (NVDA), General Motors (GM), Gilead (GILD), Chipotle (CMG), 21st Century Fox (FOXA), Viacom (VIAB), Yum Brands (YUM), Expedia (EXPE), and Philip Morris (PM) among dozens of other S&P 500 members. All told, 92 members of the S&P 500 are expected to report results this week. The economic calendar will slow some after a week that saw both a Federal Reserve policy announcement and a jobs report, with the monthly reading on job openings the only economic reading of any note. Meanwhile cryptocurrencies, once-biggest story in markets, were decimated this week with bitcoin (BTC-USD) at one point on Friday falling below the $8,000 mark while smaller coins including Litecoin (LTC-USD), Bitcoin Cash (BCH-USD), Cardano (ADA-USD), and Ripple (XRP-USD) each lost more than 30% this week. And amid this latest decline in cryptocurrency prices, Yahoo Finance will host itslatest All Markets Summitin New York on Wednesday, with this edition of the event focused solely on cryptocurrencies. And of course on Sunday, Super Bowl LII will take place in Minneapolis, pitting the Philadelphia Eagles against the New England Patriots. Many investors will be familiar with the “Super Bowl Indicator,” which says it is better when a team from the NFC — in this year’s case, the Eagles — wins the game, with markets gaining, on average, 10.8% in years the NFC team wins against an average rise of 5.8% when the AFC wins. Of course, last year the Patriots won and the market gained 20%, which just proves that therealSuper Bowl Indicator says stocks tend to go up in years a Super Bowl is played. • Monday:Markit services PMI, January (53.3 expected; 53.3 previously); ISM non-manufacturing PMI, January (56.5 expected; 55.9 previously) • Tuesday:Trade balance, December (-$52 billion expected; -$50.5 billion previously); Job openings and labor turnover survey, December (5.88 million jobs open previously) • Wednesday:Consumer credit, December ($19.3 billion expected; $27.95 billion previously) • Thursday: Initial jobless claims (232,000 expected; 230,000 previously) • Friday:Wholesale inventories, December (+0.2% expected; +0.2% previously) There is no reason to scoff at the market action this week. Stocks had their worst week in two years, the Dow lost 665 points on Friday, and the kind of volatility that so many had warned would inevitably return to markets has, well, returned. The increase in Treasury yields — from record lows back in the summer of 2016 — to four-year highs this week is the most obvious catalyst sending markets lower. The benchmark 10-year Treasury rate, so often used as the risk-free rate for investors that must be exceeded to find an attractive risk-adjusted investment, is now at 2.85%. We are now firmly in a rising-rate environment. And on the heels of Friday’s jobs report that saw wage growth top expectations markets are now anticipating a more aggressive Federal Reserve, with marketsnow pricing ina 50% probability, or more, of a rate in each quarter of 2018. Yet after this ugly week for investors, the stock market is still up nicely for the year — each of the major indexes are up better than 3%. But after more than a year of markets havingnotseen a 3% decline, the recent action feels perhaps more traumatic than it really is. “A pullback doesn’t have to mean the bull market is over,” said analysts at Bespoke Investment Group in a note published Friday afternoon. And with therecent chorus of analystslooking for a decline, part of this week’s action is surely a self-fulfilling prophecy. If enough market participants call for and expect a market decline, there will in time be a market decline. But if the fundamental reasons for the market going up over the last year was lower taxes, better corporate earnings, and good economic data, than nothing has really changed. “On the earnings front, this season couldn’t look much better, even with analysts hiking estimates at their fastest pace in years as we entered this reporting period,” Bespoke writes. “Both the earnings and revenue beat rates this season are at their highest levels in at least a decade. And while beat rates are backwards looking, the guidance spread this season is at a record as well.” The economic view from corporate America, in other words, is stellar. And so while it is notable any time the market rises or falls 3% in a week, these moves need not — and often do not — change the story of why the market’s current trend is what it is. Right now, the market trend is up. And this week’s action does not change that story. — Myles Udland is a writer at Yahoo Finance. Follow him on Twitter@MylesUdland Read more from Myles here: • One candidate for Amazon’s next headquarters looks like a clear frontrunner • Tax cuts are going to keep being a boon for the shareholder class • Auto sales declined for the first time since the financial crisis in 2017 • The markets story of 2017 — real returns, fake news • Evidence shows corporate tax cuts don’t work • Foreign investors might be the key to forecasting a U.S. recession • It’s been 17 years since U.S. consumers felt this good about the economy \|\| Oil Stocks: 3 Bold Predictions for 2018: Like many who follow and analyze the market, I like turning my analysis of current trends into predictions of what could happen in the future. In each of the past two years, I've outlined some rather bold predictions for the oil market. In both cases, I correctly called one trend, came close on a second call, and totally missed the third. What I learned from that review is that I got the macro trends right and came close to calling the price of oil but whiffed on my M&A guess. That's leading me to refine my approach this year by focusing on the macro and oil price trends that I've been most successful at predicting and forget about calling the next M&A deal. With that background, here are my three bold predictions for the oil market this year. The sun setting behind an oil pump. Image source: Getty Images. OPEC gets hooked on higher high oil prices and decides to keep cooperating In late 2016, OPEC joined forces with several non-member nations in a coordinated effort to reduce their oil supplies by 1.8 million barrels per day for six months starting in January 2017. The partners extended that agreement a few months later and recently agreed to stick with the plan for all of 2018 . While it took a while for the strategy to kick in, crude prices have been off to the races in recent months: WTI Crude Oil Spot Price Chart WTI Crude Oil Spot Price data by YCharts With crude rising so sharply, some analysts believe that OPEC might end the agreement early, potentially gradually adding supplies back to the market later this year. But instead of talking about how to exit this deal, recent comments from top oil officials suggest they're thinking about continued cooperation. "We should not limit our efforts to 2018," top Saudi oil official Khalid al-Falih told reporters earlier in January. "We need to be talking about a longer framework for cooperation." Russia seems to agree that "the world's two biggest oil producing and exporting countries can continue their cooperation for the good of the crude industry, for the good of stability," according to its energy minister, Alexander Novak. Story continues I think that after a few brutal years, OPEC and non-member nations like Russia will want to reap the windfall of higher oil prices for as long as they can, which is why I predict that these groups will extend their cooperation into 2019. While it might not be at the same rate, I don't see them walking away from what's working. Shale drillers go on a buying binge, but not on what you'd expect The rapid rise in crude prices over the past few months has been a boon to U.S. shale drillers. Many had already pushed their cost down so they could run well on $50 oil. However, with crude now in the mid-$60s, these companies are beginning to produce a gusher of cash flow. Many analysts expect them to spend that cash on boosting output even further. However, that doesn't seem to be the plan in most cases. The early indications are that oil companies intend on sticking with their strategy to spend within the cash flow they can generate at around $50 oil this year. That means most will produce a boatload of free cash flow. For example, at $50 a barrel, Anadarko Petroleum (NYSE: APC) will generate enough cash flow to spend what's necessary to increase its oil production at a 10% to 14% annual clip over the next three years. Meanwhile, at $60 oil, it could achieve that growth rate while generating about $1 billion in free cash flow per year. While Anadarko could plow that cash into more wells, the company seems increasingly likely to return that money to shareholders through a higher dividend and additional stock repurchases . It's not the only one, since a growing number of U.S. oil companies have decided to return excess cash to shareholders with a buyback. I believe that trend will accelerate in 2018, and I think stronger shale drillers will use the bulk of their oil-fueled windfall to buy back stock. Drilling rig at sunset. Image source: Getty Images. Crude confounds expectations and touches $80 a barrel Most analysts believe that oil prices have come too far, too fast. The International Energy Agency, for example, doesn't think 2018 will be a happy year for oil prices , expecting crude to dip in the first half of the year. The U.S. Energy Information Administration, meanwhile, forecasts that oil will be in the mid-$50s this year . The driving force behind those predictions is a view that U.S. oil producers will ramp up their drilling efforts and unleash a torrent of production that will push down oil prices. However, as I noted in my last prediction, I don't think this will happen. As a result, the oil market should remain tightly balanced this year, which should continue nudging crude prices higher until an unexpected supply disruption sends it soaring. While it's anyone's guess which of the many potential disruptions will be the catalyst, I expect that something will drive oil to $80 this year. Rocket fuel for oil stocks If I'm right, this year could be an excellent one for oil stocks. That's because my view is that rising oil prices will provide producers with a gusher of cash flow that they'll use to buy back shares. If that happens, it should send their stock prices soaring. That's certainly what has happened with Anadarko since it unveiled its buyback plans in September, with shares up 35% since then, and could happen with peers that follow in its footsteps. More From The Motley Fool 3 Growth Stocks at Deep-Value Prices 5 Expected Social Security Changes in 2018 6 Years Later, 6 Charts That Show How Far Apple, Inc. Has Come Since Steve Jobs' Passing 10 Best Stocks to Buy Today The $16,122 Social Security Bonus You Cannot Afford to Miss Bitcoin's Biggest Competitor Isn't Ethereum -- It's This Matthew DiLallo has no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy . \|\| Oil Stocks: 3 Bold Predictions for 2018: Like many who follow and analyze the market, I like turning my analysis of current trends into predictions of what could happen in the future. In each of the past two years, I've outlined some ratherboldpredictionsfor the oil market. In both cases, I correctly called one trend, came close on a second call, and totally missed the third. What I learned from that review is that I got the macro trends right and came close to calling the price of oil but whiffed on my M&A guess. That's leading me to refine my approach this year by focusing on the macro and oil price trends that I've been most successful at predicting and forget about calling the next M&A deal. With that background, here are my three bold predictions for the oil market this year. Image source: Getty Images. In late 2016, OPEC joined forces with several non-member nations in a coordinated effort to reduce their oil supplies by 1.8 million barrels per day for six months starting in January 2017. The partners extended that agreement a few months later andrecently agreed to stick with the plan for all of 2018. While it took a while for the strategy to kick in, crude prices have been off to the races in recent months: WTI Crude Oil Spot Pricedata byYCharts With crude rising so sharply, some analysts believe that OPEC might end the agreement early, potentially gradually adding supplies back to the market later this year. But instead of talking about how to exit this deal, recent comments from top oil officials suggest they're thinking about continued cooperation. "We should not limit our efforts to 2018," top Saudi oil official Khalid al-Falih told reporters earlier in January. "We need to be talking about a longer framework for cooperation." Russia seems to agree that "the world's two biggest oil producing and exporting countries can continue their cooperation for the good of the crude industry, for the good of stability," according to its energy minister, Alexander Novak. I think that after a few brutal years, OPEC and non-member nations like Russia will want to reap the windfall of higher oil prices for as long as they can, which is why I predict that these groups will extend their cooperation into 2019. While it might not be at the same rate, I don't see them walking away from what's working. The rapid rise in crude prices over the past few months has been a boon to U.S. shale drillers. Many had already pushed their cost down so they could run well on $50 oil. However, with crude now in the mid-$60s, these companies are beginning to produce a gusher of cash flow. Many analysts expect them to spend that cash on boosting output even further. However, that doesn't seem to be the plan in most cases. The early indications are that oil companies intend on sticking with their strategy to spend within the cash flow they can generate at around $50 oil this year. That means most will produce a boatload of free cash flow. For example, at $50 a barrel,Anadarko Petroleum(NYSE: APC)will generate enough cash flow to spend what's necessary to increase its oil production at a 10% to 14% annual clip over the next three years. Meanwhile, at $60 oil, it could achieve that growth rate while generating about $1 billion in free cash flow per year. While Anadarko could plow that cash into more wells, the company seems increasingly likely to return that money to shareholders through a higher dividend andadditional stock repurchases. It's not the only one, since agrowingnumberof U.S. oil companies have decided to return excess cash to shareholders with a buyback. I believe that trend will accelerate in 2018, and I think stronger shale drillers will use the bulk of their oil-fueled windfall to buy back stock. Image source: Getty Images. Most analysts believe that oil prices have come too far, too fast. The International Energy Agency, for example, doesn't think2018 will be a happy year for oil prices, expecting crude to dip in the first half of the year. The U.S. Energy Information Administration, meanwhile,forecasts that oil will be in the mid-$50s this year. The driving force behind those predictions is a view that U.S. oil producers will ramp up their drilling efforts and unleash a torrent of production that will push down oil prices. However, as I noted in my last prediction, I don't think this will happen. As a result, the oil market should remain tightly balanced this year, which should continue nudging crude prices higher until anunexpected supply disruptionsends it soaring. While it's anyone's guess whichof the many potential disruptionswill be the catalyst, I expect that something will drive oil to $80 this year. If I'm right, this year could be an excellent one for oil stocks. That's because my view is that rising oil prices will provide producers with a gusher of cash flow that they'll use to buy back shares. If that happens, it should send their stock prices soaring. That's certainly what has happened with Anadarko since it unveiled its buyback plans in September, with shares up 35% since then, and could happen with peers that follow in its footsteps. More From The Motley Fool • 3 Growth Stocks at Deep-Value Prices • 5 Expected Social Security Changes in 2018 • 6 Years Later, 6 Charts That Show How Far Apple, Inc. Has Come Since Steve Jobs' Passing • 10 Best Stocks to Buy Today • The $16,122 Social Security Bonus You Cannot Afford to Miss • Bitcoin's Biggest Competitor Isn't Ethereum -- It's This Matthew DiLallohas no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has adisclosure policy. \|\| More Proof Verizon's Dividend Is a Safe Bet: For Verizon (NYSE: VZ) , things in 2018 have started on a different footing than they did in 2017. The company had a great fourth quarter to finish the year and provided a rosy outlook for the new year. In spite of question marks, the company has proved it is a best-in-class dividend payer for investors to rely upon. What happened? This same time last year, Verizon reported its first decline in net subscriber additions in the 4G network era. Smaller competitors undercut the wireless leader with cheaper rates and new unlimited data plans. The company was reluctant to jump on the unlimited train but finally did so early in the year. Operating revenues were hit-and-miss during the transition, but the company showed the power of having the "biggest and best" wireless network. Customers flocked back to the fold throughout the year, totaling nearly 1.2 million net additions in the fourth quarter alone. A bar chart showing over 2 million net subscriber adds in 2016, followed by a 300,000 drop in Q1 2017. Additions have been on the rise ever since then, topping 1 million in Q4 2017. Chart by the author. Data source: Verizon quarterly earnings. As a result, full-year 2017 revenues ended flat from last fiscal year, with the fourth quarter's 5% gain bailing out what would have otherwise been a 12-month decline. All of that is great news, but Verizon had something especially good to report for those who own the stock for the dividend: Earnings per share were up 129%, getting a big one-time tax reform boost. Four young people standing against a red wall looking at smart phones. Image source: Getty Images. Why Verizon is a Dividend Aristocrat As part of the new tax law just passed, the corporate tax rate has been reduced to 21%. Because of that, Verizon announced a one-time tax benefit of about $16.8 billion. The benefit is good for nearly two years' worth of dividend payments at the current annualized rate of $2.36. In addition, the new tax rates improve the company's cash flow from operations by $3.5 billion to $4 billion each quarter in the year ahead. Quarterly operating cash flow averaged over $6 billion last year, so that's a better than 50% increase from tax reform. That is likely to help the company's free cash flow -- money left over after operations are paid for -- continue to improve. Story continues VZ Free Cash Flow (TTM) Chart Data by YCharts. That's great news considering the 4G wireless business continues to get less lucrative. Profit margins are falling as telecom companies duke it out for a limited pool of subscribers in the U.S. New perks are being added to plans, and pricing is in slow decline from new upstarts cutting prices to steal customers. The increased cash flow gives Verizon some breathing room to weather that storm, keep its dividend payments safe, and invest in future lines of business. Speaking of investments, Verizon has been busy in that department the last couple of years. It has a media division called Oath (which includes the acquired Yahoo! and AOL online brands) that it continues to build new digital content around, Internet of Things businesses, and a new 5G wireless network that will have initial roll-out later this year starting in Sacramento, California. Those investments are only just beginning to pay off and are still a small fraction of Verizon's total business. In the years ahead, that could change drastically, adding new revenue to supplement the wireless segment. That gives investors a lot of reasons to feel confident about Verizon and the future of that lucrative dividend payout. More From The Motley Fool 3 Growth Stocks at Deep-Value Prices 5 Expected Social Security Changes in 2018 6 Years Later, 6 Charts That Show How Far Apple, Inc. Has Come Since Steve Jobs' Passing 10 Best Stocks to Buy Today The $16,122 Social Security Bonus You Cannot Afford to Miss Bitcoin's Biggest Competitor Isn't Ethereum -- It's This Nicholas Rossolillo owns shares of Verizon Communications. The Motley Fool owns shares of and recommends Verizon Communications. The Motley Fool has a disclosure policy . \|\| More Proof Verizon's Dividend Is a Safe Bet: ForVerizon(NYSE: VZ), things in 2018 have started ona different footingthan they did in 2017. The company had agreat fourth quarterto finish the year and provided a rosy outlook for the new year. In spite of question marks, the company has proved it is a best-in-class dividend payer for investors to rely upon. This same time last year, Verizon reported its first decline in net subscriber additions in the 4G network era. Smaller competitors undercut the wireless leader with cheaper rates and new unlimited data plans. The company was reluctant to jump on the unlimited train but finally did so early in the year. Operating revenues were hit-and-miss during the transition, but the company showed the power of having the "biggest and best" wireless network. Customers flocked back to the fold throughout the year, totaling nearly 1.2 million net additions in the fourth quarter alone. Chart by the author. Data source: Verizon quarterly earnings. As a result, full-year 2017 revenues ended flat from last fiscal year, with the fourth quarter's 5% gain bailing out what would have otherwise been a 12-month decline. All of that is great news, but Verizon had something especially good to report for those who own the stock for the dividend: Earnings per share were up 129%, getting a big one-time tax reform boost. Image source: Getty Images. As part of thenew tax lawjust passed, the corporate tax rate has been reduced to 21%. Because of that, Verizon announced a one-time tax benefit of about $16.8 billion. The benefit is good for nearly two years' worth of dividend payments at the current annualized rate of $2.36. In addition, the new tax rates improve the company's cash flow from operations by $3.5 billion to $4 billion each quarter in the year ahead. Quarterly operating cash flow averaged over $6 billion last year, so that's a better than 50% increase from tax reform. That is likely to help the company's free cash flow -- money left over after operations are paid for -- continue to improve. Data byYCharts. That's great news considering the 4G wireless business continues to get less lucrative. Profit margins are falling as telecom companies duke it out for a limited pool of subscribers in the U.S. New perks are being added to plans, and pricing is in slow decline from new upstarts cutting prices to steal customers. The increased cash flow gives Verizon some breathing room to weather that storm, keep its dividend payments safe, and invest in future lines of business. Speaking of investments, Verizon has been busy in that department the last couple of years. It has amedia divisioncalled Oath (which includes the acquired Yahoo! and AOL online brands) that it continues to build new digital content around,Internet of Thingsbusinesses, and a new 5G wireless network that will have initial roll-out later this year starting in Sacramento, California. Those investments are only just beginning to pay off and are still a small fraction of Verizon's total business. In the years ahead, that could change drastically, adding new revenue to supplement the wireless segment. That gives investors a lot of reasons to feel confident about Verizon and the future of that lucrative dividend payout. More From The Motley Fool • 3 Growth Stocks at Deep-Value Prices • 5 Expected Social Security Changes in 2018 • 6 Years Later, 6 Charts That Show How Far Apple, Inc. Has Come Since Steve Jobs' Passing • 10 Best Stocks to Buy Today • The $16,122 Social Security Bonus You Cannot Afford to Miss • Bitcoin's Biggest Competitor Isn't Ethereum -- It's This Nicholas Rossolilloowns shares of Verizon Communications. The Motley Fool owns shares of and recommends Verizon Communications. The Motley Fool has adisclosure policy. \|\| Will You Get to Claim the Child Tax Credit in 2018?: Whether you have one, two, three, or more, there's no question about it: Children are very expensive . Thankfully, there are a number of tax breaks designed to ease the burden on parents. One such example is the Child Tax Credit, which, for the 2017 tax year, is worth up to $1,000 per qualifying child in your household under age 17. Now you may have heard that the Child Tax Credit looks different today as the result of tax reform, and you'd be correct. The value of the credit has increased to $2,000 for the 2018 tax year, and the income thresholds at which it phases out have risen tremendously. That said, unless you're a low to middle earner, there's a good chance you won't get to claim the Child Tax Credit this year, but rather will have to wait until the following year to benefit from it. Two adults and two children sitting and talking at a kitchen table. IMAGE SOURCE: GETTY IMAGES. How tax credits work When we think about tax breaks, we tend to lob tax credits and deductions into the same category, when in reality they're very different beasts. A tax deduction works by exempting a portion of your income from taxes, and your savings is based on your effective tax rate. So if you snag a $4,000 deduction, and your effective tax rate is 25%, that translates into $1,000 of actual savings. A tax credit , on the other hand, is a dollar-for-dollar reduction of your tax liability, and your associated savings aren't dependent on your effective tax rate. In other words, a $1,000 tax credit is worth $1,000 to someone making $50,000 and someone making three times that amount -- which is why credits are so lucrative. Claiming the Child Tax Credit this year To claim the Child Tax Credit this year -- meaning, on your 2017 return -- you must have at least one child in your household under age 17 who was born before 2018. Furthermore, to get the credit in full, your income for 2017 can't exceed: $75,000 if you're a single filer. $110,000 if you're a married couple filing jointly. Story continues If your income does surpass these thresholds, you'll face a $50 reduction in your credit per $1,000 of excess income, until the credit is wiped out completely. In other words, if you're married filing jointly with one child, and your 2017 income equals $130,000 or more, you won't get any money out of the credit. Claiming the Child Tax Credit after this year While countless Americans will no doubt remain ineligible for the Child Tax Credit as it applies to 2017, there's good news: Effective 2018, the income thresholds for eligibility have increased to: $200,000 for single tax filers. $400,000 for married couples filing jointly. That means even if you can't claim the credit this year on your 2017 return, there's a good chance you'll get to capitalize on it next year. Furthermore, if you're expecting this year, you'll get to claim the credit for that child on your 2018 return provided he or she is born by Dec. 31. Remember, the Child Tax Credit is only one of many tax breaks available to parents , so even if you don't get to claim it right away, there may be other deductions or credits you're eligible for. And given the cost of raising kids these days, it pays to get your hands on as much money as you can. More From The Motley Fool 3 Growth Stocks at Deep-Value Prices 5 Expected Social Security Changes in 2018 6 Years Later, 6 Charts That Show How Far Apple, Inc. Has Come Since Steve Jobs' Passing 10 Best Stocks to Buy Today The $16,122 Social Security Bonus You Cannot Afford to Miss Bitcoin's Biggest Competitor Isn't Ethereum -- It's This The Motley Fool has a disclosure policy . \|\| Will You Get to Claim the Child Tax Credit in 2018?: Whether you have one, two, three, or more, there's no question about it: Children are veryexpensive. Thankfully, there are a number of tax breaks designed to ease the burden on parents. One such example is the Child Tax Credit, which, for the 2017 tax year, is worth up to $1,000 per qualifying child in your household under age 17. Now you may have heard that the Child Tax Creditlooks different todayas the result of tax reform, and you'd be correct. The value of the credit has increased to $2,000 for the 2018 tax year, and the income thresholds at which it phases out have risen tremendously. That said, unless you're a low to middle earner, there's a good chance you won't get to claim the Child Tax Credit this year, but rather will have to wait until the following year to benefit from it. IMAGE SOURCE: GETTY IMAGES. When we think about tax breaks, we tend to lob tax credits and deductions into the same category, when in reality they're very different beasts. Atax deductionworks by exempting a portion of your income from taxes, and your savings is based on your effective tax rate. So if you snag a $4,000 deduction, and your effective tax rate is 25%, that translates into $1,000 of actual savings. Atax credit, on the other hand, is a dollar-for-dollar reduction of your tax liability, and your associated savings aren't dependent on your effective tax rate. In other words, a $1,000 tax credit is worth $1,000 to someone making $50,000 and someone making three times that amount -- which is why credits are so lucrative. To claim the Child Tax Credit this year -- meaning, on your 2017 return -- you must have at least one child in your household under age 17 who was born before 2018. Furthermore, to get the credit in full, your income for 2017 can't exceed: • $75,000 if you're a single filer. • $110,000 if you're a married couple filing jointly. If your income does surpass these thresholds, you'll face a $50 reduction in your credit per $1,000 of excess income, until the credit is wiped out completely. In other words, if you're married filing jointly with one child, and your 2017 income equals $130,000 or more, you won't get any money out of the credit. While countless Americans will no doubt remain ineligible for the Child Tax Credit as it applies to 2017, there's good news: Effective 2018, the income thresholds for eligibility have increased to: • $200,000 for single tax filers. • $400,000 for married couples filing jointly. That means even if you can't claim the credit this year on your 2017 return, there's a good chance you'll get to capitalize on it next year. Furthermore, if you're expecting this year, you'll get to claim the credit for that child on your 2018 return provided he or she is born by Dec. 31. Remember, the Child Tax Credit is only one of manytax breaks available to parents, so even if you don't get to claim it right away, there may be other deductions or credits you're eligible for. And given the cost of raising kids these days, it pays to get your hands on as much money as you can. More From The Motley Fool • 3 Growth Stocks at Deep-Value Prices • 5 Expected Social Security Changes in 2018 • 6 Years Later, 6 Charts That Show How Far Apple, Inc. Has Come Since Steve Jobs' Passing • 10 Best Stocks to Buy Today • The $16,122 Social Security Bonus You Cannot Afford to Miss • Bitcoin's Biggest Competitor Isn't Ethereum -- It's This The Motley Fool has adisclosure policy. \|\| Social Security: 4 Smart Ways to Get More Benefits: Social Security helps millions of seniors stay afloat financially in retirement. If you're counting on those benefits, you should know that the decisions you make during your career can affect your payout down the line. Here are just a few steps you can take to boost your benefits and get your hands on more cash in retirement. 1. Make sure you work for 35 years Your Social Security benefits are calculated based on your highest 35 years of earnings. Therefore, if you work for less than 35 years during your career, you'll get a big, fat $0 factored into your personal equation for each year you fail to earn a paycheck. Of course, it's not unusual to take an extended break from the workforce, whether to raise children, care for a sick family member, or some other reason. But if you're nearing the end of your career and realize you've only clocked in, say, 33 years on the job, you may want to work a couple of extra years and replace those benefit-zapping zeros with an actual income. An older man in shorts, black shirt, and denim jacket sits outdoors. IMAGE SOURCE: GETTY IMAGES. 2. Take steps to earn a higher salary While making sure to work 35 full years will help you boost your Social Security payments, the more money you earn during that time, the more you stand to collect in retirement. So if you take steps to increase your salary, you'll benefit down the line. How do you snag a boost in income? You can start by making yourself a more valued employee, whether by pursuing a certification or simply making an effort to build certain skills. But if that doesn't do the trick, then you may need to actually sit down with your boss and negotiate a raise . Now to pull off that discussion successfully, you'll need to research local salary data and see how your earnings stack up. You'll also need to be prepared to prove your worth to your manager in light of those numbers. But if you can pull off even a modest pay boost, you stand to collect more in Social Security when you're older. Story continues 3. Know your full retirement age Though your Social Security benefits themselves are based on your earnings, the age at which you first claim them can cause them to go up, go down, or stay the same. That's why it's crucial to know your full retirement age , which is the age at which you're entitled to your monthly benefits in full. Unfortunately, it's estimated that only 26% of Americans are able to correctly identify their full retirement age, but without knowing that number, you might claim benefits ahead of schedule, thus causing them to shrink. It therefore pays to familiarize yourself with the following table, which will tell you your full retirement age based on your year of birth: 1943-1954 66 1955 66 and 2 months 1956 66 and 4 months 1957 66 and 6 months 1958 66 and 8 months 1959 66 and 10 months 1960 67 DATA SOURCE: SOCIAL SECURITY ADMINISTRATION. Remember, though you're allowed to file for Social Security as early as age 62, waiting until full retirement age will ensure that you don't lose out on a portion of the benefits you're entitled to. 4. Delay benefits as long as possible While waiting until full retirement age will help you avoid a reduction in Social Security benefits, waiting past that age will help even more. That's because for each year you delay past full retirement age, you'll get an instant 8% boost in benefits, which will remain in effect for the rest of your life. This means that if your full retirement age is 67, but you decide to wait on benefits until 69, you'll collect 116% of what you were initially entitled to. There's just one catch: The incentive to delay benefits runs out at age 70, so once you reach that milestone, you might as well sign up for Social Security. But if you're able to hold out as long as possible, you stand to enjoy a sizable increase in your monthly payments. Boosting your Social Security benefits could spell the difference between managing your bills in retirement and perpetually struggling to keep up. It pays to learn more about Social Security to uncover different ways to make the most of your benefits. After all, you've earned them. More From The Motley Fool 3 Growth Stocks at Deep-Value Prices 5 Expected Social Security Changes in 2018 6 Years Later, 6 Charts That Show How Far Apple, Inc. Has Come Since Steve Jobs' Passing 10 Best Stocks to Buy Today The $16,122 Social Security Bonus You Cannot Afford to Miss Bitcoin's Biggest Competitor Isn't Ethereum -- It's This The Motley Fool has a disclosure policy . \|\| Social Security: 4 Smart Ways to Get More Benefits: Social Security helps millions of seniors stay afloat financially in retirement. If you're counting on those benefits, you should know that the decisions you make during your career can affect your payout down the line. Here are just a few steps you can take to boost your benefits and get your hands on more cash in retirement. 1. Make sure you work for 35 years Your Social Security benefits are calculated based on your highest 35 years of earnings. Therefore, if you work for less than 35 years during your career, you'll get a big, fat $0 factored into your personal equation for each year you fail to earn a paycheck. Of course, it's not unusual to take an extended break from the workforce, whether to raise children, care for a sick family member, or some other reason. But if you're nearing the end of your career and realize you've only clocked in, say, 33 years on the job, you may want to work a couple of extra years and replace those benefit-zapping zeros with an actual income. An older man in shorts, black shirt, and denim jacket sits outdoors. IMAGE SOURCE: GETTY IMAGES. 2. Take steps to earn a higher salary While making sure to work 35 full years will help you boost your Social Security payments, the more money you earn during that time, the more you stand to collect in retirement. So if you take steps to increase your salary, you'll benefit down the line. How do you snag a boost in income? You can start by making yourself a more valued employee, whether by pursuing a certification or simply making an effort to build certain skills. But if that doesn't do the trick, then you may need to actually sit down with your boss and negotiate a raise . Now to pull off that discussion successfully, you'll need to research local salary data and see how your earnings stack up. You'll also need to be prepared to prove your worth to your manager in light of those numbers. But if you can pull off even a modest pay boost, you stand to collect more in Social Security when you're older. Story continues 3. Know your full retirement age Though your Social Security benefits themselves are based on your earnings, the age at which you first claim them can cause them to go up, go down, or stay the same. That's why it's crucial to know your full retirement age , which is the age at which you're entitled to your monthly benefits in full. Unfortunately, it's estimated that only 26% of Americans are able to correctly identify their full retirement age, but without knowing that number, you might claim benefits ahead of schedule, thus causing them to shrink. It therefore pays to familiarize yourself with the following table, which will tell you your full retirement age based on your year of birth: 1943-1954 66 1955 66 and 2 months 1956 66 and 4 months 1957 66 and 6 months 1958 66 and 8 months 1959 66 and 10 months 1960 67 DATA SOURCE: SOCIAL SECURITY ADMINISTRATION. Remember, though you're allowed to file for Social Security as early as age 62, waiting until full retirement age will ensure that you don't lose out on a portion of the benefits you're entitled to. 4. Delay benefits as long as possible While waiting until full retirement age will help you avoid a reduction in Social Security benefits, waiting past that age will help even more. That's because for each year you delay past full retirement age, you'll get an instant 8% boost in benefits, which will remain in effect for the rest of your life. This means that if your full retirement age is 67, but you decide to wait on benefits until 69, you'll collect 116% of what you were initially entitled to. There's just one catch: The incentive to delay benefits runs out at age 70, so once you reach that milestone, you might as well sign up for Social Security. But if you're able to hold out as long as possible, you stand to enjoy a sizable increase in your monthly payments. Boosting your Social Security benefits could spell the difference between managing your bills in retirement and perpetually struggling to keep up. It pays to learn more about Social Security to uncover different ways to make the most of your benefits. After all, you've earned them. More From The Motley Fool 3 Growth Stocks at Deep-Value Prices 5 Expected Social Security Changes in 2018 6 Years Later, 6 Charts That Show How Far Apple, Inc. Has Come Since Steve Jobs' Passing 10 Best Stocks to Buy Today The $16,122 Social Security Bonus You Cannot Afford to Miss Bitcoin's Biggest Competitor Isn't Ethereum -- It's This The Motley Fool has a disclosure policy . \|\| Netflix CEO Reed Hastings Admits Disney's Streaming Platform Will Do Well: Netflix(NASDAQ: NFLX)CEO Reed Hastings went as far as to say he plans to subscribe toDisney's(NYSE: DIS)over-the-top (OTT) streaming service when it comes out. "I know I'll be a subscriber of it for my own personal watching in the same way and as many Disney and Fox executives also subscribe to Netflix and watch our shows," Hastings said on the company's 2017 fourth-quarter earnings call on Jan. 22. Hastings said that as the competition heats up in the streaming space, each player will need to create its own unique path and learn from each other's mistakes and successes. Netflix acknowledges Disney's potential as a streaming site but maintains that it's not scared. Image source: Netflix. Disney plans tohit the ground runningwith its OTT services in mid-2018. The media and entertainment company is reportedly working on a sports service, a family-friendly service aimed at kids, as well as a more adult service. With three streaming sites in the works, Disney seems to be taking its uphill battle to gain market share against Netflix seriously. The sports site will launch in 2018, while the two movie-centered sites will launch in 2019. Not only will Netflix need to stay ahead of yet another competitor when Disney launches, it will also have to adjust to Disney not renewing its Netflix distribution agreement. Hastings says he thinks Disney's venture into the streaming space is bound to work due to its strong relationship with its consumers. "We think [it] will be very successful because Disney has super strong brands," he said on the earnings call. On Dec. 14, 2017, Disney announcedplans to acquireTwenty-First Century Fox(NASDAQ: FOX)(NASDAQ: FOXA)in a deal valued at $52.4 billion. This would double Disney's stake in Netflix competitor Hulu and give it control of a host of new intellectual property to use on its sites. Hastings said he was just as surprised as anyone else when Disney made the announcement but said he understood the attractiveness of it. While it's possible this deal could start a domino effect in terms of consolidation in the space, Hastings says Netflix tries to stay out of those discussions and focus on what it does best. "You wouldn't expect us to be very involved in that," he said about the potential wave of consolidations. For Netflix, Disney is just another competitor in the already increasingly full video streaming market. "We don't see it as a threat to us any more than Hulu has been, but it's a great opportunity for them," Hastings said. He went on to talk about how each streaming player will need to come up with its own strategy that works, and Netflix will observe and learn from them. He says that's always been its strategy, and Disney entering the game doesn't change it. While some investors have voiced concerns about Netflix missing out on Disney's content come 2019, Netflix CFO Ted Sarandos tried to reassure them on the earnings call by claiming it would be a smooth transition. "You shouldn't think of it as a risk," Sarandos claimed. "I think we have strategically and they have strategically been moving in this direction for a long time." Netflix has been making more of its own content precisely because it anticipated Disney and other brands one day cutting ties to start their own competing businesses. Netflix can't blame Disney for wanting to get the full benefits of the internet TV boom. Netflix says it doesn't want to be distracted by competition, especially since overall streaming revenue will go up as more players enter the market. The company has also used its recent impressive subscriber growth to argue that its subscribers don't care if it loses Disney's content. But is there really room for everyone, or is that just talk to calm investors' concerns? And wouldn't the negative effects of Disney's new sites not take place until after the sites were up and running? I think it's safe to say a Disney-branded family friendly site could be a big draw for parents, particularly millennial parents who grew up with a strong attachment to the brand. But I don't see why these same parents wouldn't also want to pay the relatively low fee to have access to Netflix's high-quality content for themselves as well. Even Hastings said he will watch both Netflix's content and Disney's content. As bigger and better players enter the streaming game, including Disney andApple, I think we will see more and more people opting to have more than one subscription. You have to remember that Disney's movies on Netflix are hardly what people are talking about when it comes to new and exciting content or why Netflix is such a great value. Everyone is talking about Netflix'soriginal showslikeStranger ThingsandThe End of the F***ing World. Netflix has set a high bar for Disney and Apple. And according to itsblowout quarter, Netflix has pretty much perfected its strategy, so it's really Disney and Apple that should be worried. More From The Motley Fool • 3 Growth Stocks at Deep-Value Prices • 5 Expected Social Security Changes in 2018 • 6 Years Later, 6 Charts That Show How Far Apple, Inc. Has Come Since Steve Jobs' Passing • 10 Best Stocks to Buy Today • The $16,122 Social Security Bonus You Cannot Afford to Miss • Bitcoin's Biggest Competitor Isn't Ethereum -- It's This Natalie Waltershas no position in any of the stocks mentioned. The Motley Fool owns shares of and recommends Apple, Netflix, and Walt Disney. The Motley Fool has the following options: long January 2020 $150 calls on Apple and short January 2020 $155 calls on Apple. The Motley Fool has adisclosure policy. \|\| Essential Trends to Watch When The New York Times Reports Earnings: Long-time advocates of investing in the company behind the staid journalistic institution that isThe New York Timesare finally enjoying some company. Shares of news publisher and content providerThe New York Times Company(NYSE: NYT)generated a total return of 40% last year. More impressive, as of this article date, the company's stock has tacked on another 26% in the month of January. With such market interest and given the quick recent run-up, it's possible that the paper's fourth-quarter 2017 earnings report, to be released on Feb. 8, will cause shares to retrace -- regardless of how positive the numbers look. Below, let's briefly discuss essential trends that investors should follow in order to remain focused on the big picture. As shareholders are undoubtedly aware, overwhelming interest in the Trump administration has rewardedThe New York Timeswith a multiquarter surge in digital subscriptions. Most recently, inthe third quarter of 2017, theTimesreported a 44% leap in digital-only subscription revenue over the prior-year quarter, generated from a 59% increase in digital-only subscriptions. Digital "subs" now constitute the primary driver of total subscription revenue growth, which is arguably the most important metric to follow in the company's earnings. Through the first nine months of 2017, total subscription revenue increased 13% to $739.1 million. Last quarter, management provided a fourth-quarter 2017 projection of high-teens growth in subscription revenue, including the impact of an extra week versus the prior year. Yet when removing the extra week, on an apples-to-apples basis, the company expects total subscription revenue to improve just 10%. This slower rate of growth is due to the difficult comparison against the election-year fourth quarter of 2016, in which digital-only subscriptions jumped 46%. Image source: Getty Images. At a little less than one-third of total revenue, advertising sales still play a significant role in theTimes' revenue puzzle, although they've deteriorated in recent years. Through the first three quarters of 2017, advertising revenue dropped 5%, and that pace is expected to accelerate in the final quarter -- the company has warned investors to expect a high-single-digits retracement from the previous year. As in prior quarters, the total negative shift in fourth-quarter advertising will be less important than the relationship between digital and print advertising. Print advertising at present remains slightly larger than its digital counterpart. TheTimeshad booked $221.8 million in print advertising sales through the first nine months of 2017, versus $154.1 million in digital ad sales. Yet while the print advertising top line slumped 16.2% during this period, digital advertising climbed 17.5%, buoyed by the company's thriving digital platform. For the fourth quarter, investors should check to make sure that the digital advertising trend remained positive. In November, I discussedthe strategiesThe New York Timescan implementas its subscription boom inevitably slows, and subscription intake normalizes. These strategies are: exploiting revenue opportunities such as the company's burgeoning New York Times Crosswords subscription service, maximizing noncore revenue through product referral websites like the Times' Wirecutter site, and engaging in modest bolt-on acquisitions. When the company reports earnings, investors can expect to hear management discuss initial results for its newest content vertical, the New York Times Cooking subscription service. Potentially, executives will clue investors in on upcoming services, as the newspaper created an entire division last year devoted to launching products similar to Crosswords and Cooking, to capitalize on its brand trust and exploit high-interest areas within its subscription base. I'm eager to learn if management will continue to seek small, but earnings-accretive (i.e. adding to earnings) acquisitions in the mode ofWirecutter, a fast-growing revenue stream that in its present format resulted from two separate 2016 acquisitions. Higher free cash flow courtesy of brisk subscription growth would suggest that the company has ready money once it identifies a suitable purchase. Through the first nine months of 2017, the organization increased its cash balances by nearly 1.5 times, to $245 million: Look for the company's balance sheet to show additional expansion in the fourth quarter. At the outset of this article, I mentioned the January surge in the company's shares. Much of this boost came early in the month whenFacebookannounced that it would prioritize news sources it deemed "trustworthy" in the feeds it servers users. This action is expected to cull the amount of news on Facebook's site by 20%, which should theoretically benefit providers of high-quality journalism like theTimes, as fewer organizations will compete for traffic, opening revenue opportunities for the paper. I'm not sure how much time, if any, management will devote to discussing this potential content and advertising boon on the company's earnings conference call. But investors' reaction demonstrates how perception of the organization has shifted in a very short amount of time. Where investors once identified theTimeswith the decline of an industry (print newspapers), it's now viewed as a beneficiary of the growth of content monetization. This change in the market's assessment ofThe New York Times' earnings potential has contributed to its handsome stock chart, an ascent which might falter in the near term if growth can't keep up with ever-higher expectations. Thus, it's all the more important for shareholders to focus on the key trends above, and take any immediate speculative price action in context, when the company issues its fourth-quarter report on Feb. 8. More From The Motley Fool • 3 Growth Stocks at Deep-Value Prices • 5 Expected Social Security Changes in 2018 • 6 Years Later, 6 Charts That Show How Far Apple, Inc. Has Come Since Steve Jobs' Passing • 10 Best Stocks to Buy Today • The $16,122 Social Security Bonus You Cannot Afford to Miss • Bitcoin's Biggest Competitor Isn't Ethereum -- It's This Asit Sharmahas no position in any of the stocks mentioned. The Motley Fool owns shares of and recommends Facebook. The Motley Fool recommends The New York Times. The Motley Fool has adisclosure policy. [Social Media Buzz] A cotação atual do Bitcoin é de R$25.552,00 subindo 4.76% na última hora! #cotacao #BTC \|\| "As Bitcoin Bubble Loses Air, Frauds and Flaws Rise to Surface" by NATHANIEL POPPER via NYT http://ift.tt/2EiFeId pic.twitter.com/8cAILlvI1V \|\| （寄稿）小商いとイーサリアム \| #独立メディア塾（17年12月） http://mediajuku.com/?p=10102 ブロックチェーンを利用した小商いサイト。カスタマーセンター、受発注・決済まで安価に統合統合。 #bitcoin #ethereum #仮想通貨 \|\| START BITCOIN MINING http://bowwell2016.blog.fc2.com \|\| Just saying, you're called The Cash App, and it's Bitcoin Ca...	7754.00, 7621.30, 8265.59, 8736.98, 8621.90, 8129.97, 8926.57, 8598.31, 9494.63, 10166.40
Given the historical Bitcoin prices from the last 90 days, predict the next 10 daily closing prices. The historical prices are: 60204.96, 59893.45, 63503.46, 63109.70, 63314.01, 61572.79, 60683.82, 56216.18, 55724.27, 56473.03, 53906.09, 51762.27, 51093.65, 50050.87, 49004.25, 54021.75, 55033.12, 54824.70, 53555.11, 57750.18, 57828.05, 56631.08, 57200.29, 53333.54, 57424.01, 56396.52, 57356.40, 58803.78, 58232.32, 55859.80, 56704.57, 49150.54, 49716.19, 49880.54, 46760.19, 46456.06, 43537.51, 42909.40, 37002.44, 40782.74, 37304.69, 37536.63, 34770.58, 38705.98, 38402.22, 39294.20, 38436.97, 35697.61, 34616.07, 35678.13, 37332.86, 36684.93, 37575.18, 39208.77, 36894.41, 35551.96, 35862.38, 33560.71, 33472.63, 37345.12, 36702.60, 37334.40, 35552.52, 39097.86, 40218.48, 40406.27, 38347.06, 38053.50, 35787.25, 35615.87, 35698.30, 31676.69, 32505.66, 33723.03, 34662.44, 31637.78, 32186.28, 34649.64, 34434.34, 35867.78, 35040.84, 33572.12, 33897.05, 34668.55, 35287.78, 33746.00, 34235.20, 33855.33, 32877.37, 33798.01.	[Bitcoin Technical Analysis for 2021-07-09] Volume: 27436021028, RSI (14-day): 45.88, 50-day EMA: 37419.18, 200-day EMA: 39567.29 [Wider Market Context] Gold Price: 1810.00, Gold RSI: 50.24 Oil Price: 74.56, Oil RSI: 62.37 [Recent News (last 7 days)] Square to Build Bitcoin Hardware Wallet: Square is moving forward with plans to build abitcoinhardware wallet, executives at the payments company said Thursday. The company has begun assembling a team to handle the project, said hardware lead Jesse Dorogusker in a tweet, emphasizing the product is very much in the drawing-board stage. Nevertheless, he said Square will seek to bring a mobile-friendly, “assisted-self-custody” wallet to a global audience. “We have decided to build a hardware wallet and service to make bitcoin custody more mainstream,” he said in the tweet. Square CEO Jack Dorsey followed up: “We’re doing it.” Related:Bitcoin Privacy Wallet Wasabi Lays Out Roadmap for Version 2.0 Square’s status as a mainstream fintech would likely inject new attention into bitcoin custody. It has much wider name recognition than even the best-known hardware builders in the crypto industry. Square has carved out a niche in making bitcoin accessible through its Cash App. And Dorsey is himself aligned with the cryptocurrency on philosophical grounds. Dorogusker did not immediately respond to CoinDesk queries. • Dorsey, Musk Hint at Bitcoin Debate • Anchorage Adds Custody and Staking for Dapper Labs’ FLOW Token • BitMEX Hires Former JPMorgan Executive Director as Head of Custody \|\| Square to Build Bitcoin Hardware Wallet: Square is moving forward with plans to build a bitcoin hardware wallet, executives at the payments company said Thursday. The company has begun assembling a team to handle the project, said hardware lead Jesse Dorogusker in a tweet, emphasizing the product is very much in the drawing-board stage. Nevertheless, he said Square will seek to bring a mobile-friendly, assisted-self-custody wallet to a global audience. We have decided to build a hardware wallet and service to make bitcoin custody more mainstream, he said in the tweet. Square CEO Jack Dorsey followed up: Were doing it. Related: Bitcoin Privacy Wallet Wasabi Lays Out Roadmap for Version 2.0 Squares status as a mainstream fintech would likely inject new attention into bitcoin custody. It has much wider name recognition than even the best-known hardware builders in the crypto industry. Square has carved out a niche in making bitcoin accessible through its Cash App. And Dorsey is himself aligned with the cryptocurrency on philosophical grounds. Dorogusker did not immediately respond to CoinDesk queries. Related Stories Dorsey, Musk Hint at Bitcoin Debate Anchorage Adds Custody and Staking for Dapper Labs FLOW Token BitMEX Hires Former JPMorgan Executive Director as Head of Custody \|\| Square to Build Bitcoin Hardware Wallet: Square is moving forward with plans to build abitcoinhardware wallet, executives at the payments company said Thursday. The company has begun assembling a team to handle the project, said hardware lead Jesse Dorogusker in a tweet, emphasizing the product is very much in the drawing-board stage. Nevertheless, he said Square will seek to bring a mobile-friendly, “assisted-self-custody” wallet to a global audience. “We have decided to build a hardware wallet and service to make bitcoin custody more mainstream,” he said in the tweet. Square CEO Jack Dorsey followed up: “We’re doing it.” Related:Bitcoin Privacy Wallet Wasabi Lays Out Roadmap for Version 2.0 Square’s status as a mainstream fintech would likely inject new attention into bitcoin custody. It has much wider name recognition than even the best-known hardware builders in the crypto industry. Square has carved out a niche in making bitcoin accessible through its Cash App. And Dorsey is himself aligned with the cryptocurrency on philosophical grounds. Dorogusker did not immediately respond to CoinDesk queries. • Dorsey, Musk Hint at Bitcoin Debate • Anchorage Adds Custody and Staking for Dapper Labs’ FLOW Token • BitMEX Hires Former JPMorgan Executive Director as Head of Custody \|\| From Binance to Coinbase: The rise of cryptocurrency exchanges: Cryptocurrency exchanges have been in the headline in 2021 thanks to the IPO of Coinbase (COIN) in New York and, more recently, regulatory scrutiny of Binance, one of the biggest and fastest-growing private exchanges. Exchanges form a key part of the cryptocurrency landscape, much like they do in the stock market. The cryptocurrency market is generally accessed through online exchanges where traders can buy or sell using deposits of fiat currency from debit or credit cards. Unlike public equity markets, where national exchanges dominate, the crypto exchange landscape is less obvious from the outside. When the ecosystem was in its infancy, purchasing bitcoin (BTC-USD) was a daunting task. Only the truly persistent managed to transfer funds to obscure exchanges such as Japan's Mt.Gox, which was founded in 2010. Purchasing crypto on this early exchange involved funnelling money through an intermediary in Cyprus called OKPAY. Mt. Gox ultimately went bankrupt in 2014 after a catastrophic hack — a cautionary tale that has led many crypto-veterans to look upon today's exchanges with wary eyes. Today, the top five crypto exchanges in order of trading volume are: Binance, Huobi Global, Coinbase, Kraken, and FTX. Each of them turns over billions of dollars in trade each day. Exchanges in this new and relatively unregulated industry come in two forms: centralised exchanges (CEXs), such as Binance, where you entrust your coins and passwords to a third-party company; and decentralised exchanges (DEXs) such as Pancake Swap, where there is no involvement from a central authority and users remain in full control of their private keys and digital assets. Watch: What is bitcoin? Most of the top exchanges, apart from Binance and FTX, report ethereum as their number one cryptocurrency by volume. Binance and FTX list bitcoin as their most-traded asset. Exchanges typically differentiate themselves through the services offered to users. Binance is renowned for the speed of its transactions, Coinbase for its user-friendly interface, and FTX for its array of crypto-derivatives. Cryptocurrency exchanges also differ from each other in the fees they charge and in how seriously they take security. Exchanges don't offer nationally-backed deposit insurance, such as the Federal Deposit Insurance Corporation (FDIC) in the US or the Financial Services Compensation Scheme (FSCS) in the UK. However, some exchanges provide insurance against theft or exchange failure. Perhaps the most trusted exchange is Coinbase. The business is publicly listed on the NASDAQ (^IXIC) and based in the US, which means it faces a high level of regulation. Coinbase has a custody service that provides insurance against exchange hacks. Additionally, the exchange’s US customers have their dollar holdings protected by "pass-through FDIC insurance" of up to $250,000 per individual. Activity on Coinbase is dwarfed by that on Binance, the world’s largest cryptocurrency exchange. Binance’s daily trading volume of approximately $11 billion is almost ten times larger than Coinbase. The exchange is notable for the large number of coins it lists and its low transaction fees. Investors can trade 372 different coins and tokens on Binance, compared to only 74 of Coinbase. Since 2018, Binance has offered customer protection through its Secure Asset Fund for Users scheme, which offers partial reimbursement of user's assets if the exchange is hacked and is funded through trading fees. Binance recently made headlines for its problematic relations with regulatory authorities in different jurisdictions. Last month the UK's Financial Conduct Authority (FCA)ordered Binance to stop conducting regulated activity in Britain. Binance claimed the FCA move would have no impact on users in the UK who want to trade through its Binance.com website, butBarclays subsequently blocked UK customers from sending funds to the company. Read more:Why the UK banned Binance and what it means for your crypto assets The FCA order was followed bysimilar interventions in Japanandthe Cayman Islands, anda criminal complaint about unregistered operations in Thailand. Binance’s holding company is reportedly registered in the Cayman Islands but the company has a less transparent corporate structure than the publicly listed rival Coinbase. Regulation expert Wayne Johnson told Yahoo Finance UK that global regulators were trying to get to grips with “a payments technology that transcends country borders and is not subject to the rules and legislation associated with fiat systems". In an open letter, Binance's founder and chief executive Changpeng 'CZ' Zhao wrote: "Binance has grown very quickly and we haven't always got everything exactly right, but we are learning and improving every day. "We hope to clarify and reiterate our commitment to partner with regulators, and that we are proactively hiring more talent, putting in place more systems and processes to protect our users." Beyond pureplay crypto exchanges, people can also buy cryptocurrencies through traditional financial services apps such as PayPal (PYPL) and Revolut. Wherever you buy cryptocurrencies, you should always be away of the risks. Regulators warns that cryptocurrencies could fall to zero, exchanges could be hacked, and investors could fall wary to "rug pulls" where scammers make off with cash. Make sure you research both the project you are investing in and the platform you are using. Watch: What are the risks of investing in cryptocurrency? \|\| From Binance to Coinbase: The rise of cryptocurrency exchanges: Representations of cryptocurrencies Bitcoin, Ethereum, DogeCoin, Ripple, and Litecoin are seen in front of a displayed Binance logo. Photo: REUTERS/Dado Ruvic/Illustration (Dado Ruvic / reuters) Cryptocurrency exchanges have been in the headline in 2021 thanks to the IPO of Coinbase ( COIN ) in New York and, more recently, regulatory scrutiny of Binance, one of the biggest and fastest-growing private exchanges. Exchanges form a key part of the cryptocurrency landscape, much like they do in the stock market. The cryptocurrency market is generally accessed through online exchanges where traders can buy or sell using deposits of fiat currency from debit or credit cards. Unlike public equity markets, where national exchanges dominate, the crypto exchange landscape is less obvious from the outside. When the ecosystem was in its infancy, purchasing bitcoin ( BTC-USD ) was a daunting task. Only the truly persistent managed to transfer funds to obscure exchanges such as Japan's Mt.Gox, which was founded in 2010. Purchasing crypto on this early exchange involved funnelling money through an intermediary in Cyprus called OKPAY. Mt. Gox ultimately went bankrupt in 2014 after a catastrophic hack — a cautionary tale that has led many crypto-veterans to look upon today's exchanges with wary eyes. Today, the top five crypto exchanges in order of trading volume are: Binance, Huobi Global, Coinbase, Kraken, and FTX. Each of them turns over billions of dollars in trade each day. Exchanges in this new and relatively unregulated industry come in two forms: centralised exchanges (CEXs), such as Binance, where you entrust your coins and passwords to a third-party company; and decentralised exchanges (DEXs) such as Pancake Swap, where there is no involvement from a central authority and users remain in full control of their private keys and digital assets. Watch: What is bitcoin? Most of the top exchanges, apart from Binance and FTX, report ethereum as their number one cryptocurrency by volume. Binance and FTX list bitcoin as their most-traded asset. Exchanges typically differentiate themselves through the services offered to users. Binance is renowned for the speed of its transactions, Coinbase for its user-friendly interface, and FTX for its array of crypto-derivatives. Story continues Cryptocurrency exchanges also differ from each other in the fees they charge and in how seriously they take security. Exchanges don't offer nationally-backed deposit insurance, such as the Federal Deposit Insurance Corporation (FDIC) in the US or the Financial Services Compensation Scheme (FSCS) in the UK. However, some exchanges provide insurance against theft or exchange failure. Perhaps the most trusted exchange is Coinbase. The business is publicly listed on the NASDAQ ( ^IXIC ) and based in the US, which means it faces a high level of regulation. Coinbase has a custody service that provides insurance against exchange hacks. Additionally, the exchange’s US customers have their dollar holdings protected by "pass-through FDIC insurance" of up to $250,000 per individual. People watch as the logo for Coinbase Global Inc, the biggest U.S. cryptocurrency exchange, is displayed on the Nasdaq MarketSite jumbotron at Times Square in New York, U.S., April 14, 2021. Photo: REUTERS/Shannon Stapleton (Shannon Stapleton / reuters) Activity on Coinbase is dwarfed by that on Binance, the world’s largest cryptocurrency exchange. Binance’s daily trading volume of approximately $11 billion is almost ten times larger than Coinbase. The exchange is notable for the large number of coins it lists and its low transaction fees. Investors can trade 372 different coins and tokens on Binance, compared to only 74 of Coinbase. Since 2018, Binance has offered customer protection through its Secure Asset Fund for Users scheme, which offers partial reimbursement of user's assets if the exchange is hacked and is funded through trading fees. Binance recently made headlines for its problematic relations with regulatory authorities in different jurisdictions. Last month the UK's Financial Conduct Authority (FCA) ordered Binance to stop conducting regulated activity in Britain . Binance claimed the FCA move would have no impact on users in the UK who want to trade through its Binance.com website, but Barclays subsequently blocked UK customers from sending funds to the company. Read more: Why the UK banned Binance and what it means for your crypto assets The FCA order was followed by similar interventions in Japan and the Cayman Islands , and a criminal complaint about unregistered operations in Thailand . Binance’s holding company is reportedly registered in the Cayman Islands but the company has a less transparent corporate structure than the publicly listed rival Coinbase. Regulation expert Wayne Johnson told Yahoo Finance UK that global regulators were trying to get to grips with “a payments technology that transcends country borders and is not subject to the rules and legislation associated with fiat systems". Changpeng Zhao, CEO of Binance, speaks at the Delta Summit, Malta's official Blockchain and Digital Innovation event promoting cryptocurrency, in St Julian's, Malta October 4, 2018. Photo: REUTERS/Darrin Zammit Lupi (Darrin Zammit Lupi / reuters) In an open letter , Binance's founder and chief executive Changpeng 'CZ' Zhao wrote: "Binance has grown very quickly and we haven't always got everything exactly right, but we are learning and improving every day. "We hope to clarify and reiterate our commitment to partner with regulators, and that we are proactively hiring more talent, putting in place more systems and processes to protect our users." Beyond pureplay crypto exchanges, people can also buy cryptocurrencies through traditional financial services apps such as PayPal ( PYPL ) and Revolut. Wherever you buy cryptocurrencies, you should always be away of the risks. Regulators warns that cryptocurrencies could fall to zero, exchanges could be hacked, and investors could fall wary to "rug pulls" where scammers make off with cash. Make sure you research both the project you are investing in and the platform you are using. Watch: What are the risks of investing in cryptocurrency? \|\| Biden Administration Says Talks with Russia on Cyber Attacks Are Progressing. Privately, Staffers Are Skeptical: A security officer indicates to the media to step back as U.S. President Joe Biden, second from left, U.S. Secretary of State Antony Blinken, left, Russia's President Vladimir Putin, second from right, and Russia's Foreign Minister Sergei Lavrov, right, meet for the U.S.-Russia summit at Villa La Grange in Geneva, Switzerland, Wednesday, June 16, 2021. A security officer indicates to the media to step back as U.S. President Joe Biden, second from left, U.S. Secretary of State Antony Blinken, left, Russia's President Vladimir Putin, second from right, and Russia's Foreign Minister Sergei Lavrov, right, meet for the U.S.-Russia summit at Villa La Grange in Geneva, Switzerland, Wednesday, June 16, 2021. Credit - Denis BalibouseAP Despite public statements that U.S. talks with Russia are pressing forward on cyber attacks, some of President Joe Bidens own aides are skeptical that President Vladimir Putin will act to rein in cyber criminals based there. Hes not going to, says one Biden Administration official, speaking about Putin taking steps to crack down on hacks originating in Russia and on Russian networks. The official says several members of Bidens team are doubtful. Without Putin intervening, the criminal groups will keep doing what theyre doing the official says. Hes wreaking havoc. When the two leaders met in Geneva in June , Biden asked Putin to help crack down on criminal hackers working in Russia that have been targeting American institutions and businesses. Less than a month later, Russian hackers allegedly broke into computers used by a contractor for Republican National Committee, and a Russian cyber criminal network activated another massive international ransomware attack that targeted an estimated 1,500 businesses, some in the U.S. U.S. intelligence officials have watched ransomware attacks escalate in scale and sophistication as relations between Washington and Moscow grew increasingly strained in recent years. Russias invasion of Ukraine, Putins meddling in U.S. elections, the Congressional investigation into links between President Donald Trumps campaign and the Kremlin, and Trumps unpredictable public statements about Russia put the countries on adversarial footing, preventing high-level discussions to outline rules of the road and clear consequences for aggressive hacking. Story continues When Biden met Putin on June 16, the American President tried to change that. The leaders agreed to set up meetings between senior cyber security experts in their governments. In multiple meetings since, the White House has told Russian officials that the U.S. expects Russia to shut down criminal groups launching ransomware attacks from inside Russia or using Russian networks, according to a White House official. A meeting between the two countries on ransomware attacks specifically is scheduled for next week. Since the fresh attacks, pressure has been mounting on Biden to push Putin to intervene against Russian criminal hackers and, in some cases, his own security forces, to get them to tamp down the attacks. The White House has publicly brushed all that aside for now, emphasizing that talks with Moscow are continuing and need time to show results. Biden himself is not frustrated with Russias slow response, White House Press Secretary Jen Psaki said in response to a question from TIME on July 6. The meeting with the Russian President was just a couple of weeks ago. Weve had ongoing meetings at an expert level pretty much since that point in time, said Psaki. Even if some administration officials doubt the talks will be fruitful, theres a genuine benefit an open line of communication, says Philip Reiner, the head of the Institute for Security and Technology and a former White House national security official under President Barack Obama. The fact that theyre even talking is actually a very positive thing, says Reiner. Russian officials do have a history of slow rolling these things and so hopefully this time it bears out differently, he says. If Russia doesnt follow through on reigning in the hacks operating in its borders, the Biden Administration has various levers to pull, including additional economic sanctions and offensive hacks that can hobble the networks the hackers are using. It starts with the question of, Does Vladimir Putin want to be seen and have his country be seen as part of the legitimate international system? Reiner says. In the meantime, U.S. officials at the FBI, Department of Justice and Department of Homeland Security have been scrambling to shore up massive vulnerabilities in the computer systems of U.S. businesses and government contractors. Cybersecurity company Emisoft found at least 2,354 U.S.-based governments, healthcare facilities, and schools were victims of ransomware in 2020, with payments totaling more than $900 million. The Department of Justice has been working to expand its ability to seize Bitcoin and other cryptocurrencies used to pay off criminal hackers in exchange for unlocking hijacked computer systems. In June, Justice officials said they were able to seize $2.3 million in Bitcoin paid as ransom to hackers behind the Colonial Pipeline hack that caused fuel disruptions and caused a run on gasoline along the East Coast in May. U.S. intelligence agencies have also been weighing cyber operations that could disrupt and disable criminal outfits from launching the attacks, particularly those based in Russia or using Russian internet infrastructure for their operations. U.S. officials are still waiting to see if the June summit and subsequent talks lead to any decrease in attacks on critical infrastructure, such as pipelines, healthcare facilities, food processing plants and other parts of the U.S. economy, where a shutdown would be debilitating. When they met in Geneva, Biden gave Putin a list of 16 sectors the U.S. considers off limits. The government has also formed a group with energy companies called the Cybersecurity Industrial Control Systems Initiative to better protect the energy grid, and plans to expand that pilot program to water systems, the chemical industry and pipelines in the coming months. One of the challenges of tracking the breadth of ransomware attacks in the U.S. is that U.S. companies are not required to report cyber incursionsand many dont. The FBI runs the Internet Crime Complaint Center, known as IC3, but participation in that reporting process is voluntary. Officials believe that many ransomware hacks go unreported because companies are concerned about public criticism, loss of business or civil lawsuits. Biden Administration officials are trying to convince American companies to better protect their own computer systems. After the Colonial hack, Biden issued an executive order requiring companies that do business with the federal government to adhere to a series of security conditions to prevent hacks, requirements the White House hopes will be adopted by companies across sectors. In early June, Anne Neuberger, a senior White House advisor on cyber security, told U.S. businesses to see ransomware as a threat to their basic ability to operate. She said businesses should immediately adopt multi-factor authentication for accessing networks, work to detect intrusions, encrypt stored data so it cant be used even if it is stolen, and other steps. She has since warned that local governments are at risk, too. On July 6, Neuberger met virtually with a large group of U.S. mayors to sound the alarm on the vulnerabilities ransomware hackers present to U.S. cities and to describe several steps to protect their networks. When it comes to ransoms demanded by hackers that have locked up computer systems, the Biden Administrations advice to companies is not to pay them. In the July 6 press conference, Psaki said that the U.S. ransomware policy continues to be the same as it has been for several months, which is that we do not advisewe advise against, in factcompanies paying ransomware given it incentivizes bad actors to repeat this behavior. \|\| Biden Administration Says Talks with Russia on Cyber Attacks Are Progressing. Privately, Staffers Are Skeptical: A security officer indicates to the media to step back as U.S. President Joe Biden, second from left, U.S. Secretary of State Antony Blinken, left, Russia's President Vladimir Putin, second from right, and Russia's Foreign Minister Sergei Lavrov, right, meet for the U.S.-Russia summit at Villa La Grange in Geneva, Switzerland, Wednesday, June 16, 2021. A security officer indicates to the media to step back as U.S. President Joe Biden, second from left, U.S. Secretary of State Antony Blinken, left, Russia's President Vladimir Putin, second from right, and Russia's Foreign Minister Sergei Lavrov, right, meet for the U.S.-Russia summit at Villa La Grange in Geneva, Switzerland, Wednesday, June 16, 2021. Credit - Denis BalibouseAP Despite public statements that U.S. talks with Russia are pressing forward on cyber attacks, some of President Joe Bidens own aides are skeptical that President Vladimir Putin will act to rein in cyber criminals based there. Hes not going to, says one Biden Administration official, speaking about Putin taking steps to crack down on hacks originating in Russia and on Russian networks. The official says several members of Bidens team are doubtful. Without Putin intervening, the criminal groups will keep doing what theyre doing the official says. Hes wreaking havoc. When the two leaders met in Geneva in June , Biden asked Putin to help crack down on criminal hackers working in Russia that have been targeting American institutions and businesses. Less than a month later, Russian hackers allegedly broke into computers used by a contractor for Republican National Committee, and a Russian cyber criminal network activated another massive international ransomware attack that targeted an estimated 1,500 businesses, some in the U.S. U.S. intelligence officials have watched ransomware attacks escalate in scale and sophistication as relations between Washington and Moscow grew increasingly strained in recent years. Russias invasion of Ukraine, Putins meddling in U.S. elections, the Congressional investigation into links between President Donald Trumps campaign and the Kremlin, and Trumps unpredictable public statements about Russia put the countries on adversarial footing, preventing high-level discussions to outline rules of the road and clear consequences for aggressive hacking. Story continues When Biden met Putin on June 16, the American President tried to change that. The leaders agreed to set up meetings between senior cyber security experts in their governments. In multiple meetings since, the White House has told Russian officials that the U.S. expects Russia to shut down criminal groups launching ransomware attacks from inside Russia or using Russian networks, according to a White House official. A meeting between the two countries on ransomware attacks specifically is scheduled for next week. Since the fresh attacks, pressure has been mounting on Biden to push Putin to intervene against Russian criminal hackers and, in some cases, his own security forces, to get them to tamp down the attacks. The White House has publicly brushed all that aside for now, emphasizing that talks with Moscow are continuing and need time to show results. Biden himself is not frustrated with Russias slow response, White House Press Secretary Jen Psaki said in response to a question from TIME on July 6. The meeting with the Russian President was just a couple of weeks ago. Weve had ongoing meetings at an expert level pretty much since that point in time, said Psaki. Even if some administration officials doubt the talks will be fruitful, theres a genuine benefit an open line of communication, says Philip Reiner, the head of the Institute for Security and Technology and a former White House national security official under President Barack Obama. The fact that theyre even talking is actually a very positive thing, says Reiner. Russian officials do have a history of slow rolling these things and so hopefully this time it bears out differently, he says. If Russia doesnt follow through on reigning in the hacks operating in its borders, the Biden Administration has various levers to pull, including additional economic sanctions and offensive hacks that can hobble the networks the hackers are using. It starts with the question of, Does Vladimir Putin want to be seen and have his country be seen as part of the legitimate international system? Reiner says. In the meantime, U.S. officials at the FBI, Department of Justice and Department of Homeland Security have been scrambling to shore up massive vulnerabilities in the computer systems of U.S. businesses and government contractors. Cybersecurity company Emisoft found at least 2,354 U.S.-based governments, healthcare facilities, and schools were victims of ransomware in 2020, with payments totaling more than $900 million. The Department of Justice has been working to expand its ability to seize Bitcoin and other cryptocurrencies used to pay off criminal hackers in exchange for unlocking hijacked computer systems. In June, Justice officials said they were able to seize $2.3 million in Bitcoin paid as ransom to hackers behind the Colonial Pipeline hack that caused fuel disruptions and caused a run on gasoline along the East Coast in May. U.S. intelligence agencies have also been weighing cyber operations that could disrupt and disable criminal outfits from launching the attacks, particularly those based in Russia or using Russian internet infrastructure for their operations. U.S. officials are still waiting to see if the June summit and subsequent talks lead to any decrease in attacks on critical infrastructure, such as pipelines, healthcare facilities, food processing plants and other parts of the U.S. economy, where a shutdown would be debilitating. When they met in Geneva, Biden gave Putin a list of 16 sectors the U.S. considers off limits. The government has also formed a group with energy companies called the Cybersecurity Industrial Control Systems Initiative to better protect the energy grid, and plans to expand that pilot program to water systems, the chemical industry and pipelines in the coming months. One of the challenges of tracking the breadth of ransomware attacks in the U.S. is that U.S. companies are not required to report cyber incursionsand many dont. The FBI runs the Internet Crime Complaint Center, known as IC3, but participation in that reporting process is voluntary. Officials believe that many ransomware hacks go unreported because companies are concerned about public criticism, loss of business or civil lawsuits. Biden Administration officials are trying to convince American companies to better protect their own computer systems. After the Colonial hack, Biden issued an executive order requiring companies that do business with the federal government to adhere to a series of security conditions to prevent hacks, requirements the White House hopes will be adopted by companies across sectors. In early June, Anne Neuberger, a senior White House advisor on cyber security, told U.S. businesses to see ransomware as a threat to their basic ability to operate. She said businesses should immediately adopt multi-factor authentication for accessing networks, work to detect intrusions, encrypt stored data so it cant be used even if it is stolen, and other steps. She has since warned that local governments are at risk, too. On July 6, Neuberger met virtually with a large group of U.S. mayors to sound the alarm on the vulnerabilities ransomware hackers present to U.S. cities and to describe several steps to protect their networks. When it comes to ransoms demanded by hackers that have locked up computer systems, the Biden Administrations advice to companies is not to pay them. In the July 6 press conference, Psaki said that the U.S. ransomware policy continues to be the same as it has been for several months, which is that we do not advisewe advise against, in factcompanies paying ransomware given it incentivizes bad actors to repeat this behavior. \|\| Osprey’s Bitcoin Trust Ups the Ante in Race to Displace GBTC: Osprey Funds isfilingto register its Osprey Bitcoin Trust (OBTC) as a Securities and Exchange Commission (SEC) reporting company. If the U.S. regulator deems the Form 10 filing effective, Osprey would become the second cryptocurrency investment vehicle to become an SEC reporting company,followingthe Grayscale Bitcoin Trust (GBTC). Osprey is part of a crop of newbitcoinfunds aimed squarely at the market-leading GBTC before a bitcoin exchange-traded fund (ETF) is approved by the SEC. This includes offerings fromBitwise Asset Management,BlockFiandCrossTowerthat look to give traditional investors exposure to bitcoin without having to touch the asset itself. Related:Traders Make Money Selling ‘Strangles’ as Bitcoin Goes Quiet The Osprey registration would increase transparency and liquidity for the trust, requiring it to file audited financial statements with the SEC. It would also reduce the holding period for OBTC shares from 12 months to six months, putting it on par with GBTC. (Grayscale is owned by Digital Currency Group, CoinDesk’s parent company.) Also similar to GBTC, Osprey can be accessed directly by accredited investors and indirectly by retail investors via over-the-counter (OTC) trading desks. OBTC boasts a 0.49% management fee compared to GBTC’s 2% annual fee, but the Osprey fund also has 0.3% in other expenses from services such as crypto custody. Danny Nelson contributed reporting. • Reflation-Trade Rethink Keeps Bitcoin Under Pressure • Bitcoin Struggles Within Choppy Range, Could Stabilize at $30K • Bitcoin Price Seesaws in Tight Range Awaiting Bullish Catalyst \|\| Osprey’s Bitcoin Trust Ups the Ante in Race to Displace GBTC: Osprey Funds isfilingto register its Osprey Bitcoin Trust (OBTC) as a Securities and Exchange Commission (SEC) reporting company. If the U.S. regulator deems the Form 10 filing effective, Osprey would become the second cryptocurrency investment vehicle to become an SEC reporting company,followingthe Grayscale Bitcoin Trust (GBTC). Osprey is part of a crop of newbitcoinfunds aimed squarely at the market-leading GBTC before a bitcoin exchange-traded fund (ETF) is approved by the SEC. This includes offerings fromBitwise Asset Management,BlockFiandCrossTowerthat look to give traditional investors exposure to bitcoin without having to touch the asset itself. Related:Traders Make Money Selling ‘Strangles’ as Bitcoin Goes Quiet The Osprey registration would increase transparency and liquidity for the trust, requiring it to file audited financial statements with the SEC. It would also reduce the holding period for OBTC shares from 12 months to six months, putting it on par with GBTC. (Grayscale is owned by Digital Currency Group, CoinDesk’s parent company.) Also similar to GBTC, Osprey can be accessed directly by accredited investors and indirectly by retail investors via over-the-counter (OTC) trading desks. OBTC boasts a 0.49% management fee compared to GBTC’s 2% annual fee, but the Osprey fund also has 0.3% in other expenses from services such as crypto custody. Danny Nelson contributed reporting. • Reflation-Trade Rethink Keeps Bitcoin Under Pressure • Bitcoin Struggles Within Choppy Range, Could Stabilize at $30K • Bitcoin Price Seesaws in Tight Range Awaiting Bullish Catalyst \|\| Osprey’s Bitcoin Trust Ups the Ante in Race to Displace GBTC: Osprey Funds is filing to register its Osprey Bitcoin Trust (OBTC) as a Securities and Exchange Commission (SEC) reporting company. If the U.S. regulator deems the Form 10 filing effective, Osprey would become the second cryptocurrency investment vehicle to become an SEC reporting company, following the Grayscale Bitcoin Trust (GBTC). Osprey is part of a crop of new bitcoin funds aimed squarely at the market-leading GBTC before a bitcoin exchange-traded fund (ETF) is approved by the SEC. This includes offerings from Bitwise Asset Management , BlockFi and CrossTower that look to give traditional investors exposure to bitcoin without having to touch the asset itself. Related: Traders Make Money Selling ‘Strangles’ as Bitcoin Goes Quiet The Osprey registration would increase transparency and liquidity for the trust, requiring it to file audited financial statements with the SEC. It would also reduce the holding period for OBTC shares from 12 months to six months, putting it on par with GBTC. (Grayscale is owned by Digital Currency Group, CoinDesk’s parent company.) Also similar to GBTC, Osprey can be accessed directly by accredited investors and indirectly by retail investors via over-the-counter (OTC) trading desks. OBTC boasts a 0.49% management fee compared to GBTC’s 2% annual fee, but the Osprey fund also has 0.3% in other expenses from services such as crypto custody. Danny Nelson contributed reporting. Related Stories Reflation-Trade Rethink Keeps Bitcoin Under Pressure Bitcoin Struggles Within Choppy Range, Could Stabilize at $30K Bitcoin Price Seesaws in Tight Range Awaiting Bullish Catalyst \|\| Swedish National Sentenced to 15 Years in Crypto Fraud Case: ASwedish manwho swindled more than 3,500 victims out of more than $16 million worth ofbitcoinand other payment platforms from 2011-2019 received a 15-year prison sentence for securities fraud, wire fraud and money laundering charges, according to the U.S. Department of Justice. Roger Nils-Jonas Karlsson, 47, was also ordered to forfeit a Thai resort he purchased with the stolen funds and $16,263,820 in restitution, DoJ said ina releaseThursday. From 2011 to 2019, when he was arrested in Thailand, Karlsson ran an investment fraud scheme using the name Eastern Metal Securities. Karlsson promised his victims “astronomical returns” on their investments, paid in bitcoin and other online payment methods tied to the price of gold. Instead, Karlsson kept the money and used it to fund a string of expensive properties and a racehorse. Related:Korean Authorities Investigate 33 People for $1.48B in Illicit Crypto Transactions Karlssonpleaded guiltyto the scheme in March. Karlsson’s sentencing is one in arecent seriesof fraud charges brought by different U.S. agencies against individuals, as regulators attempt to clamp down on illegal activities in the crypto space. The case against Karlsson was an international joint effort involving the Internal Revenue Service’s criminal investigations division, the FBI Legal Attache Office in Thailand, the IRS-CI Attache Office in Hong Kong and the Royal Thai Police Crime Suppression Division. • Bitcoin Seized by Ohio DOJ Sold for More Than $19M: Report • Fake Covid Certificates, Stolen Vaccines Sold on Dark Web for Bitcoin • South Africa to Accelerate Crypto Regulation in Wake of Scams: Report \|\| Swedish National Sentenced to 15 Years in Crypto Fraud Case: A Swedish man who swindled more than 3,500 victims out of more than $16 million worth of bitcoin and other payment platforms from 2011-2019 received a 15-year prison sentence for securities fraud, wire fraud and money laundering charges, according to the U.S. Department of Justice. Roger Nils-Jonas Karlsson, 47, was also ordered to forfeit a Thai resort he purchased with the stolen funds and $16,263,820 in restitution, DoJ said in a release Thursday. From 2011 to 2019, when he was arrested in Thailand, Karlsson ran an investment fraud scheme using the name Eastern Metal Securities. Karlsson promised his victims “astronomical returns” on their investments, paid in bitcoin and other online payment methods tied to the price of gold. Instead, Karlsson kept the money and used it to fund a string of expensive properties and a racehorse. Related: Korean Authorities Investigate 33 People for $1.48B in Illicit Crypto Transactions Karlsson pleaded guilty to the scheme in March. Karlsson’s sentencing is one in a recent series of fraud charges brought by different U.S. agencies against individuals, as regulators attempt to clamp down on illegal activities in the crypto space. The case against Karlsson was an international joint effort involving the Internal Revenue Service’s criminal investigations division, the FBI Legal Attache Office in Thailand, the IRS-CI Attache Office in Hong Kong and the Royal Thai Police Crime Suppression Division. Related Stories Bitcoin Seized by Ohio DOJ Sold for More Than $19M: Report Fake Covid Certificates, Stolen Vaccines Sold on Dark Web for Bitcoin South Africa to Accelerate Crypto Regulation in Wake of Scams: Report \|\| Bitcoin miners break new ground in Texas, a state hailed as the new cryptocurrency capital: ROCKDALE, Texas - Chad Harris, the CEO of Whinstone Inc., the operator of the largest crypto "mine" in North America, remembers one of the last times Texas's electric power problem became his electric power problem. It was a Wednesday in June, and evening temperatures were hovering around 94 degrees - far higher than the state usually suffers at that time of year. Texans were churning up their air conditioning, and the state's grid, which infamously failed for days during a cold snap in February, was straining. Subscribe to The Post Most newsletter for the most important and interesting stories from The Washington Post. "We just got a text saying, 'The power grid needs support. Please curtail now,' " Harris said, while standing outside the company's mining center at an old Alcoa aluminum facility about six miles outside this Central Texas town. Instantly, Whinstone's system went offline. The tens of thousands of computer servers that spin away generating bitcoin inside three long buildings simply stopped. "With the flip of a switch, we turned this off," Harris said. In the world of crypto mining, having all your computers shut down at once, and stay down for hours, as they did in June, sounds like a disaster. Crypto miners compete with one another the world over to generate the computer code that results in the production of a single bitcoin, and the algorithm that governs bitcoin's production allows only 6.25 bitcoin to be produced every 10 minutes, among the perhaps 70,000 crypto mines that operate around the world. If you're not able to generate the code, but your rivals can, you are out of luck. But thanks to the way Texas power companies deal with large electricity customers like Whinstone, Harris's bitcoin mine, one of the few owned by a publicly traded company, didn't suffer. Instead, the state's electricity operator, the Electric Reliability Council of Texas (ERCOT), began to pay Whinstone - for having agreed to quit buying power amid heightened demand. Story continues That sort of arrangement has helped make the state one of the go-to locations for expanding crypto entrepreneurs the world over, despite its continued agonizing over power shortages. Indeed, Whinstone's new owners are undertaking a major expansion of its facility outside Rockdale, with the intention of doubling its capacity. When fully developed, the crypto mine here is expected to require 750 megawatts of power - enough to power more than 150,000 Texas homes during peak demand. And it's not just Whinstone. More crypto farms want to move into the area as China, believed to be the nation with the most crypto miners, moves to restrict local bitcoin mining and trading by, among other limitations, ordering power companies not to sell them power. Shenzhen-based BIT Mining said in May that it plans to invest more than $25 million in a Texas data center, while Beijing-based server firm Bitmain is already modernizing the old aluminum plant across the street from Whinstone's Rockdale-area facility. Rockdale's mayor, a bitcoin miner himself with a rack of computers in his home, says he's met with at least one other firm interested in locating here. Whinstone, which leases shelving on its campus to other crypto miners' servers, has been contacted by "several," the company's CEO said. It's not just happening near Rockdale. Peter Thiel-backed crypto mining firm Layer1 Technologies last year opened a plant near Pyote in West Texas (population 138 in the 2020 census). In February, Canada's Argo Blockchain announced plans to buy 320 acres of land in the same West Texas area within a year. Events in China might make mining even more profitable for farms in Texas. Over the July Fourth weekend, as bitcoin's code self-adjusted to accommodate a sudden drop in global bitcoin miners tied to the crackdown in China, it became 28% less difficult to produce new bitcoin, according to the bitcoin data service BTC.com. The boom is both a worry and an opportunity, depending on whose perspective you choose to adopt. "One good thing about crypto mining is it's adding flexibility to the system," said Peter Cramton, a former board member of ERCOT, the nonprofit that's charged with managing the state's wholesale energy market. "But the problem is it's consuming real resources, doing a function that has no value." In mid-June, the state asked Texans to cut back on power by setting their thermostats to 78 degrees or higher as statewide electricity demand crept toward 70 gigawatts, nearly all that companies could generate at the time. How much the crypto explosion has helped Rockdale's economy is open to debate. For 50 years, Rockdale, with a population of about 5,600, was a company town, with hundreds of jobs at Alcoa's nearby coal mine and aluminum smelter. Its economic success even earned it the nickname "The Town Where It Rains Money" in a 1952 article by the Saturday Evening Post. But in 2008, Alcoa closed the mine and smelter, eliminating 1,200 jobs, and in 2018 the firm's power plant was shut down, adding to those job losses. But the electrical lines supporting those operations remain, making it an attractive site for bitcoin investment. Whinstone hired roughly 100 workers when it moved into town. But so far, the investment hasn't spurred meaningful growth. "What's 100 [newly hired] employees when you lost maybe 2,000 employees? It's not significant," said John King, Rockdale's mayor, who worked at the old Alcoa plant in the 1980s. His efforts to operate a crypto mine with a few servers in his home hasn't really paid off either. "I'm not very successful at it, and I can't afford to keep buying hard drives," he said, a reference to the hotly competitive market where the winnings go to those with the most computing power. And Whinstone has a lot. The company's fenced-off crypto compound houses more than 100,000 computer servers, stacked 20 feet high lining some of the walls. When the expansion is completed by the end of 2022, that number will have more than doubled, according to the company's CEO. On the outside, machines can be heard buzzing as workers in hard hats prep the 100-acre lot in near 100-degree temperatures for mining expansion. It's even louder and hotter on the inside, where fans on mining servers expel heat into a central "hot aisle." When the power is on, the chamber can hit 150 degrees as scorching air is shot out the ceiling. When the system powers down, the chamber's temperature falls soon after. Bitcoin mines of Whinstone's size may be capable of creating roughly 500 bitcoin per month, the company says. At today's bitcoin value of approximately $34,000, that's $17 million, helping to explain why Riot Blockchain, a publicly traded company, paid $80 million in May to acquire Whinstone. Expansion is an expensive undertaking, too. Each of Whinstone's buildings costs about $40 million to build. Still, Whinstone feels bullish on its future in Texas. The state provides myriad prime conditions for mining. For one, it has a deregulated electricity landscape that allows energy customers to choose their provider. The state often offers some of the cheapest energy prices in the country. And the arid locale known for its oil and gas business is the nation's leading energy producer. As such, crypto data centers requiring a seemingly endless amount of power know where to get it. When power prices start to rise because of increasing demand, software from start-ups like Texas-based Lancium give mines the flexibility to adjust their power consumption accordingly. The code is interfaced with online notices from ERCOT, triggering servers to power down during times of extreme energy shortages. During the days-long blackout that crippled Texas in February, bitcoin mines completely went offline. ERCOT paid the companies for doing so. "There's a lot of opportunities here compared to other states," said Katie Coleman, an Austin-based energy attorney. "Cryptocurrency miners can avoid high energy periods, get paid for doing that, and therefore get power for next to nothing here." Why Rockdale? Whinstone moved to the town's perimeter from Louisiana in 2019 to take advantage of relaxed regulations and Alcoa's shuttered facilities. The company signed a long-term lease with Alcoa, flattened trees on the unkempt land and completed three buildings in 18 months. Wanting to be well-liked among locals, Whinstone donated "a significant amount of money" to the Rockdale Police Department. "Then they probably spent $5,000 on fireworks for our graduating senior class," King, the mayor, said. The showering display was a notable investment, he added, in a four-square-mile town that hosts a Walmart, one other grocery store, a handful of Mexican restaurants and a couple of pizza places. It's also home to one of the oldest motels in Texas, Rainbow Courts, which is somewhat of a tourist destination built over a century ago. The move to the community's perimeter came as the start-up was running low on capital. The firm says it needed the recent Riot Blockchain buyout to expand. Riot needed Whinstone's infrastructure to run its mining hardware. "Our issue here was getting enough capital to build faster," said David Schatz, vice president of operations at Whinstone. "We virtually had an endless supply of power, whereas other companies, our competition - their issue is scaling up their power." Related Content Broadway, and the rest of New York's cultural life, are on the cusp of a vibrant rebound Returning to school was supposed to be great. The reality was more complicated. Jakob Dylan has always been part cowboy-troubadour, part rabbi \|\| Bitcoin miners break new ground in Texas, a state hailed as the new cryptocurrency capital: ROCKDALE, Texas - Chad Harris, the CEO of Whinstone Inc., the operator of the largest crypto "mine" in North America, remembers one of the last times Texas's electric power problem became his electric power problem. It was a Wednesday in June, and evening temperatures were hovering around 94 degrees - far higher than the state usually suffers at that time of year. Texans were churning up their air conditioning, and the state's grid, which infamously failed for days during a cold snap in February, was straining. Subscribe to The Post Most newsletter for the most important and interesting stories from The Washington Post. "We just got a text saying, 'The power grid needs support. Please curtail now,' " Harris said, while standing outside the company's mining center at an old Alcoa aluminum facility about six miles outside this Central Texas town. Instantly, Whinstone's system went offline. The tens of thousands of computer servers that spin away generating bitcoin inside three long buildings simply stopped. "With the flip of a switch, we turned this off," Harris said. In the world of crypto mining, having all your computers shut down at once, and stay down for hours, as they did in June, sounds like a disaster. Crypto miners compete with one another the world over to generate the computer code that results in the production of a single bitcoin, and the algorithm that governs bitcoin's production allows only 6.25 bitcoin to be produced every 10 minutes, among the perhaps 70,000 crypto mines that operate around the world. If you're not able to generate the code, but your rivals can, you are out of luck. But thanks to the way Texas power companies deal with large electricity customers like Whinstone, Harris's bitcoin mine, one of the few owned by a publicly traded company, didn't suffer. Instead, the state's electricity operator, the Electric Reliability Council of Texas (ERCOT), began to pay Whinstone - for having agreed to quit buying power amid heightened demand. Story continues That sort of arrangement has helped make the state one of the go-to locations for expanding crypto entrepreneurs the world over, despite its continued agonizing over power shortages. Indeed, Whinstone's new owners are undertaking a major expansion of its facility outside Rockdale, with the intention of doubling its capacity. When fully developed, the crypto mine here is expected to require 750 megawatts of power - enough to power more than 150,000 Texas homes during peak demand. And it's not just Whinstone. More crypto farms want to move into the area as China, believed to be the nation with the most crypto miners, moves to restrict local bitcoin mining and trading by, among other limitations, ordering power companies not to sell them power. Shenzhen-based BIT Mining said in May that it plans to invest more than $25 million in a Texas data center, while Beijing-based server firm Bitmain is already modernizing the old aluminum plant across the street from Whinstone's Rockdale-area facility. Rockdale's mayor, a bitcoin miner himself with a rack of computers in his home, says he's met with at least one other firm interested in locating here. Whinstone, which leases shelving on its campus to other crypto miners' servers, has been contacted by "several," the company's CEO said. It's not just happening near Rockdale. Peter Thiel-backed crypto mining firm Layer1 Technologies last year opened a plant near Pyote in West Texas (population 138 in the 2020 census). In February, Canada's Argo Blockchain announced plans to buy 320 acres of land in the same West Texas area within a year. Events in China might make mining even more profitable for farms in Texas. Over the July Fourth weekend, as bitcoin's code self-adjusted to accommodate a sudden drop in global bitcoin miners tied to the crackdown in China, it became 28% less difficult to produce new bitcoin, according to the bitcoin data service BTC.com. The boom is both a worry and an opportunity, depending on whose perspective you choose to adopt. "One good thing about crypto mining is it's adding flexibility to the system," said Peter Cramton, a former board member of ERCOT, the nonprofit that's charged with managing the state's wholesale energy market. "But the problem is it's consuming real resources, doing a function that has no value." In mid-June, the state asked Texans to cut back on power by setting their thermostats to 78 degrees or higher as statewide electricity demand crept toward 70 gigawatts, nearly all that companies could generate at the time. How much the crypto explosion has helped Rockdale's economy is open to debate. For 50 years, Rockdale, with a population of about 5,600, was a company town, with hundreds of jobs at Alcoa's nearby coal mine and aluminum smelter. Its economic success even earned it the nickname "The Town Where It Rains Money" in a 1952 article by the Saturday Evening Post. But in 2008, Alcoa closed the mine and smelter, eliminating 1,200 jobs, and in 2018 the firm's power plant was shut down, adding to those job losses. But the electrical lines supporting those operations remain, making it an attractive site for bitcoin investment. Whinstone hired roughly 100 workers when it moved into town. But so far, the investment hasn't spurred meaningful growth. "What's 100 [newly hired] employees when you lost maybe 2,000 employees? It's not significant," said John King, Rockdale's mayor, who worked at the old Alcoa plant in the 1980s. His efforts to operate a crypto mine with a few servers in his home hasn't really paid off either. "I'm not very successful at it, and I can't afford to keep buying hard drives," he said, a reference to the hotly competitive market where the winnings go to those with the most computing power. And Whinstone has a lot. The company's fenced-off crypto compound houses more than 100,000 computer servers, stacked 20 feet high lining some of the walls. When the expansion is completed by the end of 2022, that number will have more than doubled, according to the company's CEO. On the outside, machines can be heard buzzing as workers in hard hats prep the 100-acre lot in near 100-degree temperatures for mining expansion. It's even louder and hotter on the inside, where fans on mining servers expel heat into a central "hot aisle." When the power is on, the chamber can hit 150 degrees as scorching air is shot out the ceiling. When the system powers down, the chamber's temperature falls soon after. Bitcoin mines of Whinstone's size may be capable of creating roughly 500 bitcoin per month, the company says. At today's bitcoin value of approximately $34,000, that's $17 million, helping to explain why Riot Blockchain, a publicly traded company, paid $80 million in May to acquire Whinstone. Expansion is an expensive undertaking, too. Each of Whinstone's buildings costs about $40 million to build. Still, Whinstone feels bullish on its future in Texas. The state provides myriad prime conditions for mining. For one, it has a deregulated electricity landscape that allows energy customers to choose their provider. The state often offers some of the cheapest energy prices in the country. And the arid locale known for its oil and gas business is the nation's leading energy producer. As such, crypto data centers requiring a seemingly endless amount of power know where to get it. When power prices start to rise because of increasing demand, software from start-ups like Texas-based Lancium give mines the flexibility to adjust their power consumption accordingly. The code is interfaced with online notices from ERCOT, triggering servers to power down during times of extreme energy shortages. During the days-long blackout that crippled Texas in February, bitcoin mines completely went offline. ERCOT paid the companies for doing so. "There's a lot of opportunities here compared to other states," said Katie Coleman, an Austin-based energy attorney. "Cryptocurrency miners can avoid high energy periods, get paid for doing that, and therefore get power for next to nothing here." Why Rockdale? Whinstone moved to the town's perimeter from Louisiana in 2019 to take advantage of relaxed regulations and Alcoa's shuttered facilities. The company signed a long-term lease with Alcoa, flattened trees on the unkempt land and completed three buildings in 18 months. Wanting to be well-liked among locals, Whinstone donated "a significant amount of money" to the Rockdale Police Department. "Then they probably spent $5,000 on fireworks for our graduating senior class," King, the mayor, said. The showering display was a notable investment, he added, in a four-square-mile town that hosts a Walmart, one other grocery store, a handful of Mexican restaurants and a couple of pizza places. It's also home to one of the oldest motels in Texas, Rainbow Courts, which is somewhat of a tourist destination built over a century ago. The move to the community's perimeter came as the start-up was running low on capital. The firm says it needed the recent Riot Blockchain buyout to expand. Riot needed Whinstone's infrastructure to run its mining hardware. "Our issue here was getting enough capital to build faster," said David Schatz, vice president of operations at Whinstone. "We virtually had an endless supply of power, whereas other companies, our competition - their issue is scaling up their power." Related Content Broadway, and the rest of New York's cultural life, are on the cusp of a vibrant rebound Returning to school was supposed to be great. The reality was more complicated. Jakob Dylan has always been part cowboy-troubadour, part rabbi \|\| Bitcoin miners break new ground in Texas, a state hailed as the new cryptocurrency capital: ROCKDALE, Texas - Chad Harris, the CEO of Whinstone Inc., the operator of the largest crypto "mine" in North America, remembers one of the last times Texas's electric power problem became his electric power problem. It was a Wednesday in June, and evening temperatures were hovering around 94 degrees - far higher than the state usually suffers at that time of year. Texans were churning up their air conditioning, and the state's grid, which infamously failed for days during a cold snap in February, was straining. Subscribe to The Post Most newsletter for the most important and interesting stories from The Washington Post. "We just got a text saying, 'The power grid needs support. Please curtail now,' " Harris said, while standing outside the company's mining center at an old Alcoa aluminum facility about six miles outside this Central Texas town. Instantly, Whinstone's system went offline. The tens of thousands of computer servers that spin away generating bitcoin inside three long buildings simply stopped. "With the flip of a switch, we turned this off," Harris said. In the world of crypto mining, having all your computers shut down at once, and stay down for hours, as they did in June, sounds like a disaster. Crypto miners compete with one another the world over to generate the computer code that results in the production of a single bitcoin, and the algorithm that governs bitcoin's production allows only 6.25 bitcoin to be produced every 10 minutes, among the perhaps 70,000 crypto mines that operate around the world. If you're not able to generate the code, but your rivals can, you are out of luck. But thanks to the way Texas power companies deal with large electricity customers like Whinstone, Harris's bitcoin mine, one of the few owned by a publicly traded company, didn't suffer. Instead, the state's electricity operator, the Electric Reliability Council of Texas (ERCOT), began to pay Whinstone - for having agreed to quit buying power amid heightened demand. Story continues That sort of arrangement has helped make the state one of the go-to locations for expanding crypto entrepreneurs the world over, despite its continued agonizing over power shortages. Indeed, Whinstone's new owners are undertaking a major expansion of its facility outside Rockdale, with the intention of doubling its capacity. When fully developed, the crypto mine here is expected to require 750 megawatts of power - enough to power more than 150,000 Texas homes during peak demand. And it's not just Whinstone. More crypto farms want to move into the area as China, believed to be the nation with the most crypto miners, moves to restrict local bitcoin mining and trading by, among other limitations, ordering power companies not to sell them power. Shenzhen-based BIT Mining said in May that it plans to invest more than $25 million in a Texas data center, while Beijing-based server firm Bitmain is already modernizing the old aluminum plant across the street from Whinstone's Rockdale-area facility. Rockdale's mayor, a bitcoin miner himself with a rack of computers in his home, says he's met with at least one other firm interested in locating here. Whinstone, which leases shelving on its campus to other crypto miners' servers, has been contacted by "several," the company's CEO said. It's not just happening near Rockdale. Peter Thiel-backed crypto mining firm Layer1 Technologies last year opened a plant near Pyote in West Texas (population 138 in the 2020 census). In February, Canada's Argo Blockchain announced plans to buy 320 acres of land in the same West Texas area within a year. Events in China might make mining even more profitable for farms in Texas. Over the July Fourth weekend, as bitcoin's code self-adjusted to accommodate a sudden drop in global bitcoin miners tied to the crackdown in China, it became 28% less difficult to produce new bitcoin, according to the bitcoin data service BTC.com. The boom is both a worry and an opportunity, depending on whose perspective you choose to adopt. "One good thing about crypto mining is it's adding flexibility to the system," said Peter Cramton, a former board member of ERCOT, the nonprofit that's charged with managing the state's wholesale energy market. "But the problem is it's consuming real resources, doing a function that has no value." In mid-June, the state asked Texans to cut back on power by setting their thermostats to 78 degrees or higher as statewide electricity demand crept toward 70 gigawatts, nearly all that companies could generate at the time. How much the crypto explosion has helped Rockdale's economy is open to debate. For 50 years, Rockdale, with a population of about 5,600, was a company town, with hundreds of jobs at Alcoa's nearby coal mine and aluminum smelter. Its economic success even earned it the nickname "The Town Where It Rains Money" in a 1952 article by the Saturday Evening Post. But in 2008, Alcoa closed the mine and smelter, eliminating 1,200 jobs, and in 2018 the firm's power plant was shut down, adding to those job losses. But the electrical lines supporting those operations remain, making it an attractive site for bitcoin investment. Whinstone hired roughly 100 workers when it moved into town. But so far, the investment hasn't spurred meaningful growth. "What's 100 [newly hired] employees when you lost maybe 2,000 employees? It's not significant," said John King, Rockdale's mayor, who worked at the old Alcoa plant in the 1980s. His efforts to operate a crypto mine with a few servers in his home hasn't really paid off either. "I'm not very successful at it, and I can't afford to keep buying hard drives," he said, a reference to the hotly competitive market where the winnings go to those with the most computing power. And Whinstone has a lot. The company's fenced-off crypto compound houses more than 100,000 computer servers, stacked 20 feet high lining some of the walls. When the expansion is completed by the end of 2022, that number will have more than doubled, according to the company's CEO. On the outside, machines can be heard buzzing as workers in hard hats prep the 100-acre lot in near 100-degree temperatures for mining expansion. It's even louder and hotter on the inside, where fans on mining servers expel heat into a central "hot aisle." When the power is on, the chamber can hit 150 degrees as scorching air is shot out the ceiling. When the system powers down, the chamber's temperature falls soon after. Bitcoin mines of Whinstone's size may be capable of creating roughly 500 bitcoin per month, the company says. At today's bitcoin value of approximately $34,000, that's $17 million, helping to explain why Riot Blockchain, a publicly traded company, paid $80 million in May to acquire Whinstone. Expansion is an expensive undertaking, too. Each of Whinstone's buildings costs about $40 million to build. Still, Whinstone feels bullish on its future in Texas. The state provides myriad prime conditions for mining. For one, it has a deregulated electricity landscape that allows energy customers to choose their provider. The state often offers some of the cheapest energy prices in the country. And the arid locale known for its oil and gas business is the nation's leading energy producer. As such, crypto data centers requiring a seemingly endless amount of power know where to get it. When power prices start to rise because of increasing demand, software from start-ups like Texas-based Lancium give mines the flexibility to adjust their power consumption accordingly. The code is interfaced with online notices from ERCOT, triggering servers to power down during times of extreme energy shortages. During the days-long blackout that crippled Texas in February, bitcoin mines completely went offline. ERCOT paid the companies for doing so. "There's a lot of opportunities here compared to other states," said Katie Coleman, an Austin-based energy attorney. "Cryptocurrency miners can avoid high energy periods, get paid for doing that, and therefore get power for next to nothing here." Why Rockdale? Whinstone moved to the town's perimeter from Louisiana in 2019 to take advantage of relaxed regulations and Alcoa's shuttered facilities. The company signed a long-term lease with Alcoa, flattened trees on the unkempt land and completed three buildings in 18 months. Wanting to be well-liked among locals, Whinstone donated "a significant amount of money" to the Rockdale Police Department. "Then they probably spent $5,000 on fireworks for our graduating senior class," King, the mayor, said. The showering display was a notable investment, he added, in a four-square-mile town that hosts a Walmart, one other grocery store, a handful of Mexican restaurants and a couple of pizza places. It's also home to one of the oldest motels in Texas, Rainbow Courts, which is somewhat of a tourist destination built over a century ago. The move to the community's perimeter came as the start-up was running low on capital. The firm says it needed the recent Riot Blockchain buyout to expand. Riot needed Whinstone's infrastructure to run its mining hardware. "Our issue here was getting enough capital to build faster," said David Schatz, vice president of operations at Whinstone. "We virtually had an endless supply of power, whereas other companies, our competition - their issue is scaling up their power." Related Content Broadway, and the rest of New York's cultural life, are on the cusp of a vibrant rebound Returning to school was supposed to be great. The reality was more complicated. Jakob Dylan has always been part cowboy-troubadour, part rabbi \|\| Warren asks SEC about increased cryptocurrency regulations: S en. Elizabeth Warren is wondering about increased federal oversight of cryptocurrency trading exchanges and wants the Securities and Exchange Commission to examine its authority to regulate them. The Massachusetts Democrat raised a number of concerns about cryptocurrency exchanges and platforms in a Thursday letter to SEC Chairman Gary Gensler. She asked for more information about the SEC’s authority to oversee the exchanges in order to determine if Congress needs to take action. “The increased use of cryptocurrency exchanges presents unique risks to consumers,” she wrote. “Although they describe themselves as cryptocurrency 'exchanges,' these platforms lack the same types of basic regulatory protections as traditional national securities exchanges like the New York Stock Exchange or Nasdaq.” She said that while cryptocurrency exchanges share similar features to traditional exchanges, cryptocurrency exchanges may be able to evade regulation if the digital asset being traded is not seen as a security under U.S. law. BITCOIN ENTERS ‘DEATH CROSS’ AMID CHINA CRACKDOWN Warren pointed out that Gensler has previously acknowledged that the exchanges lack a regulatory framework at both the SEC and the Commodity Futures Trading Commission and, thus, there aren’t really protections against fraud or manipulation in place. “Instead, these platforms are generally subject to state-level regulations for money transfer or payment services,” she said. “These regulations were not initially designed to provide oversight for sophisticated, exchange-like operations and are insufficient to ensure a safe cryptocurrency marketplace.” Warren also noted that cryptocurrency traders must place their trust in the intermediary exchange platform because their funds are uninsured and there is no guarantee that the trader can ultimately recover his or her cryptocurrency assets. She said that during the six months from last October until March, almost 7,000 people reported losses from cryptocurrency scams, resulting in $80 million in lost assets — 1,000% more in reported losses than the same period the year before. Story continues Warren listed several questions to Gensler and requested responses to them no later than July 28. She asked about the SEC’s current authority in the cryptocurrency realm, to what extent Gensler thinks there should be international regulatory coordination, and what problems the SEC has identified that are associated with the exchanges, among others. CLICK HERE TO READ MORE FROM THE WASHINGTON EXAMINER “As the cryptocurrency markets continue to grow and expand, the lack of regulation to provide basic investor protections is unsustainable,” Warren wrote in her letter. “The SEC regulates national securities exchanges, and cryptocurrency exchanges that operate in a similar manner should be subject to similar regulatory standards.” Washington Examiner Videos Tags: News , Cryptocurrency , Regulation , Bitcoin , Elizabeth Warren , SEC , CFTC , Exchanges Original Author: Zachary Halaschak Original Location: Warren asks SEC about increased cryptocurrency regulations \|\| Warren asks SEC about increased cryptocurrency regulations: S en. Elizabeth Warren is wondering about increased federal oversight of cryptocurrency trading exchanges and wants the Securities and Exchange Commission to examine its authority to regulate them. The Massachusetts Democrat raised a number of concerns about cryptocurrency exchanges and platforms in a Thursday letter to SEC Chairman Gary Gensler. She asked for more information about the SEC’s authority to oversee the exchanges in order to determine if Congress needs to take action. “The increased use of cryptocurrency exchanges presents unique risks to consumers,” she wrote. “Although they describe themselves as cryptocurrency 'exchanges,' these platforms lack the same types of basic regulatory protections as traditional national securities exchanges like the New York Stock Exchange or Nasdaq.” She said that while cryptocurrency exchanges share similar features to traditional exchanges, cryptocurrency exchanges may be able to evade regulation if the digital asset being traded is not seen as a security under U.S. law. BITCOIN ENTERS ‘DEATH CROSS’ AMID CHINA CRACKDOWN Warren pointed out that Gensler has previously acknowledged that the exchanges lack a regulatory framework at both the SEC and the Commodity Futures Trading Commission and, thus, there aren’t really protections against fraud or manipulation in place. “Instead, these platforms are generally subject to state-level regulations for money transfer or payment services,” she said. “These regulations were not initially designed to provide oversight for sophisticated, exchange-like operations and are insufficient to ensure a safe cryptocurrency marketplace.” Warren also noted that cryptocurrency traders must place their trust in the intermediary exchange platform because their funds are uninsured and there is no guarantee that the trader can ultimately recover his or her cryptocurrency assets. She said that during the six months from last October until March, almost 7,000 people reported losses from cryptocurrency scams, resulting in $80 million in lost assets — 1,000% more in reported losses than the same period the year before. Story continues Warren listed several questions to Gensler and requested responses to them no later than July 28. She asked about the SEC’s current authority in the cryptocurrency realm, to what extent Gensler thinks there should be international regulatory coordination, and what problems the SEC has identified that are associated with the exchanges, among others. CLICK HERE TO READ MORE FROM THE WASHINGTON EXAMINER “As the cryptocurrency markets continue to grow and expand, the lack of regulation to provide basic investor protections is unsustainable,” Warren wrote in her letter. “The SEC regulates national securities exchanges, and cryptocurrency exchanges that operate in a similar manner should be subject to similar regulatory standards.” Washington Examiner Videos Tags: News , Cryptocurrency , Regulation , Bitcoin , Elizabeth Warren , SEC , CFTC , Exchanges Original Author: Zachary Halaschak Original Location: Warren asks SEC about increased cryptocurrency regulations \|\| Riot Blockchain Announces June Production and Operations Updates: Riot produces 243 Bitcoins in June 2021 Castle Rock, CO, July 08, 2021 (GLOBE NEWSWIRE) --Riot Blockchain, Inc. (NASDAQ: RIOT) ("Riot”, “Riot Blockchain” or the “Company"), one of the leading Nasdaq-listed Bitcoin mining companies in the United States, announces its June production and operations updates, including its unaudited Bitcoin (“BTC“) production for June 2021 and its miner deployment status. Production and Operations Updates • In June 2021, Riot produced 243 BTC, an increase of approximately 406% over its June 2020 production of 48 BTC. • Year to date through June 2021, the Company produced a total of 1,167 BTC, an increase of approximately 130% over its pre-halving BTC production during the same 2020 period of 508 BTC. • As of June 30, 2021, Riot held approximately 2,243 BTC, all of which were produced by its mining operations. • The exodus of Bitcoin mining from China has resulted in a downward difficulty adjustment and lower global network hash rate. As such, Riot is currently mining more Bitcoin per day than at any time in the Company’s history. While it is broadly expected that many Chinese miners will eventually relocate, the Company estimates that it could be quite some time before the global Bitcoin mining hash rate returns to its previous high of 180 exahash per second (“EH/s”), last observed earlier this year. Riot plans to continue providing monthly operational updates and unaudited production results through the end of 2021. These updates are intended to keep shareholders informed of Riot’s mining production as it continues to deploy its expanding miner fleet. Infrastructure Development Upon completion of the acquisition of Whinstone U.S. (“Whinstone”), Riot shared its plan to immediately commence expansion of the Whinstone facility to 750 megawatts (“MW”), from its existing, industry-leading 300 MW in developed capacity, by the end of 2022. To this end, the Company is pleased to announce it has successfully commenced development of 400 MW of additional capacity. This expanded Bitcoin mining infrastructure is expected to comprise of four new buildings totaling approximately 240,000 square feet, with the capacity to support an estimated 130,000 S19j Antminers. It is expected that the first portion of this expansion will be completed by Q1 2022 and the balance by Q2 2022. The expansion of Bitcoin mining infrastructure at Whinstone provides critical capacity for Riot to deploy its future shipments of Bitcoin mining hardware, in addition to providing an opportunity to expand Whinstone’s hosting business for third-party Bitcoin miners. Recent Miner Deployments As previously disclosed, Riot plans to deploy future committed miner shipments to the Whinstone facility to capitalize on Whinstone’s industry-leading low production costs. Necessary infrastructure upgrades are currently underway to support this deployment. The Company recently received 7,500 S19 Pro Antminers (110 TH), which are being currently deployed, with full deployment expected to be completed by the end of this month. By month’s end, Riot anticipates that it will have a total of 23,946 Antminers in operation, utilizing approximately 76 MW of energy, with an estimated hash rate capacity of 2.4 EH/s. Hash Rate Growth By Q4 2022, Riot anticipates a total hash rate capacity of 7.7 EH/s, assuming full deployment of its anticipated fleet of approximately 81,146 Antminers acquired from Bitmain, 95% of which will be the latest generation S19 series model of miners. Upon full deployment, the Company’s total fleet is expected to consume approximately 257 MW of energy, with approximately 206 MW deployed at the Company’s Whinstone facility and approximately 51 MW deployed at Coinmint, LLC’s facility. This would result in an overall hash rate efficiency of 33 joules per terahash (J/TH), demonstrating Riot’s commitment to building one of the largest and most efficient Bitcoin mining fleets in the industry. Investor Relations On July 13thand 14th, Riot will be hosting analyst and investor tours at its Whinstone facility in Rockdale, Texas. The Company encourages parties interested in future tours to contact Riot’s Investor Relations team [email protected] Riot is also pleased to announce its participation in the Digital Asset Council of Financial Professionals Bitcoin Mining virtual event on Thursday July 22nd, 2021. Riot’s CEO Jason Les will present to a group of Registered Investment Advisors (RIA) on Riot’s strategy for Bitcoin mining and current topics in the Bitcoin mining space. More details can be found athttps://dacfp.com/mining/ About Riot Blockchain, Inc. Riot Blockchain (NASDAQ: RIOT) focuses on mining Bitcoin and through its Whinstone subsidiary, hosting Bitcoin mining equipment for institutional clients. The Company is expanding and upgrading its mining operations through industrial-scale infrastructure development and latest-generation miner procurement. Riot is headquartered in Castle Rock, Colorado, and the Company’s mining facility operates out of Rockdale, Texas at the site of its wholly-owned subsidiary, Whinstone U.S. The Company also has mining equipment operating in upstate New York under a co-location hosting agreement with Coinmint, LLC. For more information, visitwww.RiotBlockchain.com. Safe Harbor The information provided in this press release may include forward-looking statements within the meaning of the federal securities laws, including as to the effects of the acquisition by the Company of Whinstone and the future financial performance and operations of the Company and Whinstone. Because such statements are subject to risks and uncertainties, actual results may differ materially from those expressed or implied by such forward-looking statements. Words such as "anticipates," “believes,” "plans," "expects," "intends," "will," "potential," "hope" and similar expressions are intended to identify forward-looking statements. Forward-looking statements are based upon current expectations of the Company and involve assumptions that may never materialize or may prove to be incorrect. Actual results and the timing of events could differ materially from those anticipated in such forward-looking statements as a result of various risks and uncertainties. These forward-looking statements may include, but are not limited to, statements about the benefits of the acquisition of Whinstone, including financial and operating results, and the Company’s plans, objectives, expectations and intentions. Among the risks and uncertainties that could cause actual results to differ from those expressed in forward-looking statements are: (1) the integration of the businesses of the Company and Whinstone may not be successful, or such integration may take longer or be more difficult, time-consuming or costly to accomplish than anticipated; and (2) failure to otherwise realize anticipated efficiencies and strategic and financial benefits from the acquisition of Whinstone. Detailed information regarding other factors that may cause actual results to differ materially from those expressed or implied by statements in this press release may be found in the Company's filings with the U.S. Securities and Exchange Commission (the “SEC”), including in the sections entitled "Risk Factors" and “Cautionary Note Regarding Forward-Looking Statements” of the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2020, which was filed with the SEC on March 31, 2021 and subsequently amended in a filing with the SEC on April 30, 2021, and the Company’s Quarterly Report on Form 10-Q for the fiscal quarter ended March 31, 2021, which was filed with the SEC on May 17, 2021, and in the additional risk factors set forth in the Company’s Current Report on Form 8-K filed with the SEC on May 26, 2021, copies of which may be obtained from the SEC's website at www.sec.gov. All forward-looking statements included in this press release are made only as of the date of this press release, and the Company does not undertake any obligation to publicly update or correct any forward-looking statements to reflect events or circumstances that subsequently occur, or of which the Company hereafter becomes aware, except as required by law. Attachment • graph 6.10.21 CONTACT: Investor Contact - Phil McPherson Riot Blockchain, Inc. 303-794-2000 ext. 110 [email protected] PR Contact Riot Blockchain, Inc. [email protected] \|\| Riot Blockchain Announces June Production and Operations Updates: Riot produces 243 Bitcoins in June 2021 Castle Rock, CO, July 08, 2021 (GLOBE NEWSWIRE) -- Riot Blockchain, Inc. (NASDAQ: RIOT) ("Riot”, “Riot Blockchain” or the “Company") , one of the leading Nasdaq-listed Bitcoin mining companies in the United States, announces its June production and operations updates, including its unaudited Bitcoin (“BTC“) production for June 2021 and its miner deployment status. Production and Operations Updates In June 2021, Riot produced 243 BTC, an increase of approximately 406% over its June 2020 production of 48 BTC. Year to date through June 2021, the Company produced a total of 1,167 BTC, an increase of approximately 130% over its pre-halving BTC production during the same 2020 period of 508 BTC. As of June 30, 2021, Riot held approximately 2,243 BTC, all of which were produced by its mining operations. The exodus of Bitcoin mining from China has resulted in a downward difficulty adjustment and lower global network hash rate. As such, Riot is currently mining more Bitcoin per day than at any time in the Company’s history. While it is broadly expected that many Chinese miners will eventually relocate, the Company estimates that it could be quite some time before the global Bitcoin mining hash rate returns to its previous high of 180 exahash per second (“EH/s”), last observed earlier this year. Riot plans to continue providing monthly operational updates and unaudited production results through the end of 2021. These updates are intended to keep shareholders informed of Riot’s mining production as it continues to deploy its expanding miner fleet. Infrastructure Development Upon completion of the acquisition of Whinstone U.S. (“Whinstone”), Riot shared its plan to immediately commence expansion of the Whinstone facility to 750 megawatts (“MW”), from its existing, industry-leading 300 MW in developed capacity, by the end of 2022. To this end, the Company is pleased to announce it has successfully commenced development of 400 MW of additional capacity. This expanded Bitcoin mining infrastructure is expected to comprise of four new buildings totaling approximately 240,000 square feet, with the capacity to support an estimated 130,000 S19j Antminers. It is expected that the first portion of this expansion will be completed by Q1 2022 and the balance by Q2 2022. Story continues The expansion of Bitcoin mining infrastructure at Whinstone provides critical capacity for Riot to deploy its future shipments of Bitcoin mining hardware, in addition to providing an opportunity to expand Whinstone’s hosting business for third-party Bitcoin miners. Recent Miner Deployments As previously disclosed, Riot plans to deploy future committed miner shipments to the Whinstone facility to capitalize on Whinstone’s industry-leading low production costs. Necessary infrastructure upgrades are currently underway to support this deployment. The Company recently received 7,500 S19 Pro Antminers (110 TH), which are being currently deployed, with full deployment expected to be completed by the end of this month. By month’s end, Riot anticipates that it will have a total of 23,946 Antminers in operation, utilizing approximately 76 MW of energy, with an estimated hash rate capacity of 2.4 EH/s. Hash Rate Growth By Q4 2022, Riot anticipates a total hash rate capacity of 7.7 EH/s, assuming full deployment of its anticipated fleet of approximately 81,146 Antminers acquired from Bitmain, 95% of which will be the latest generation S19 series model of miners. Upon full deployment, the Company’s total fleet is expected to consume approximately 257 MW of energy, with approximately 206 MW deployed at the Company’s Whinstone facility and approximately 51 MW deployed at Coinmint, LLC’s facility. This would result in an overall hash rate efficiency of 33 joules per terahash (J/TH), demonstrating Riot’s commitment to building one of the largest and most efficient Bitcoin mining fleets in the industry. Investor Relations On July 13 th and 14 th , Riot will be hosting analyst and investor tours at its Whinstone facility in Rockdale, Texas. The Company encourages parties interested in future tours to contact Riot’s Investor Relations team at [email protected] Riot is also pleased to announce its participation in the Digital Asset Council of Financial Professionals Bitcoin Mining virtual event on Thursday July 22 nd , 2021. Riot’s CEO Jason Les will present to a group of Registered Investment Advisors (RIA) on Riot’s strategy for Bitcoin mining and current topics in the Bitcoin mining space. More details can be found at https://dacfp.com/mining/ About Riot Blockchain, Inc. Riot Blockchain (NASDAQ: RIOT) focuses on mining Bitcoin and through its Whinstone subsidiary, hosting Bitcoin mining equipment for institutional clients. The Company is expanding and upgrading its mining operations through industrial-scale infrastructure development and latest-generation miner procurement. Riot is headquartered in Castle Rock, Colorado, and the Company’s mining facility operates out of Rockdale, Texas at the site of its wholly-owned subsidiary, Whinstone U.S. The Company also has mining equipment operating in upstate New York under a co-location hosting agreement with Coinmint, LLC. For more information, visit www.RiotBlockchain.com . Safe Harbor The information provided in this press release may include forward-looking statements within the meaning of the federal securities laws, including as to the effects of the acquisition by the Company of Whinstone and the future financial performance and operations of the Company and Whinstone. Because such statements are subject to risks and uncertainties, actual results may differ materially from those expressed or implied by such forward-looking statements. Words such as "anticipates," “believes,” "plans," "expects," "intends," "will," "potential," "hope" and similar expressions are intended to identify forward-looking statements. Forward-looking statements are based upon current expectations of the Company and involve assumptions that may never materialize or may prove to be incorrect. Actual results and the timing of events could differ materially from those anticipated in such forward-looking statements as a result of various risks and uncertainties. These forward-looking statements may include, but are not limited to, statements about the benefits of the acquisition of Whinstone, including financial and operating results, and the Company’s plans, objectives, expectations and intentions. Among the risks and uncertainties that could cause actual results to differ from those expressed in forward-looking statements are: (1) the integration of the businesses of the Company and Whinstone may not be successful, or such integration may take longer or be more difficult, time-consuming or costly to accomplish than anticipated; and (2) failure to otherwise realize anticipated efficiencies and strategic and financial benefits from the acquisition of Whinstone. Detailed information regarding other factors that may cause actual results to differ materially from those expressed or implied by statements in this press release may be found in the Company's filings with the U.S. Securities and Exchange Commission (the “SEC”), including in the sections entitled "Risk Factors" and “Cautionary Note Regarding Forward-Looking Statements” of the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2020, which was filed with the SEC on March 31, 2021 and subsequently amended in a filing with the SEC on April 30, 2021, and the Company’s Quarterly Report on Form 10-Q for the fiscal quarter ended March 31, 2021, which was filed with the SEC on May 17, 2021, and in the additional risk factors set forth in the Company’s Current Report on Form 8-K filed with the SEC on May 26, 2021, copies of which may be obtained from the SEC's website at www.sec.gov. All forward-looking statements included in this press release are made only as of the date of this press release, and the Company does not undertake any obligation to publicly update or correct any forward-looking statements to reflect events or circumstances that subsequently occur, or of which the Company hereafter becomes aware, except as required by law. Attachment graph 6.10.21 CONTACT: Investor Contact - Phil McPherson Riot Blockchain, Inc. 303-794-2000 ext. 110 [email protected] PR Contact Riot Blockchain, Inc. [email protected] \|\| 6 Top Precious Metal Stock Picks: On Thursday, Bank of America updated its precious metal price outlook and named its top precious metal stock picks for investors to buy heading into the second half of 2021. BofA Lowers Commodities Estimates: Analyst Michael Jalonen cut his 2021 average gold price estimate by just 0.8%, reducing it from $1,843/oz to $1,828/oz. Jalonen also cut his silver price target to $27.71/oz, down 3.9% from his previous estimate of $28.84/oz. Related Link: Analyst Expects Rebound In Gold M&A In The Second Half Of 2021 Jalonen also reduced his 2021 copper price estimate by 6.7% from $10,572/t to $9,868/t. After a strong run in 2020, Jalonen said policy uncertainty has been the major reason industrial raw materials costs have lagged in 2021. However, he said he remains constructive on raw materials prices and sees opportunities for investors within the space. Jalonen said the North American precious metals group as a whole is fairly valued, with stocks trading roughly in-line with their long-term average multiple relative to net asset value. Our top picks can generate robust free cash flow at $1,800/oz gold and deliver on shareholder return priorities, he said. BofA's Top Picks: Jalonen specifically named the following top metal stock picks. Top senior producer: Newmont Corporation (NYSE: NEM ), Buy rating and $80 target. Top royalty & streaming company: Franco Nevada Corp (NYSE: FNV ), Buy rating and $163 target. Top intermediate precious metals pick: Pan American Silver Corp. (NASDAQ: PAAS ), Buy rating and $42 target. Top intermediate gold producer pick: SSR Mining Inc (NASDAQ: SSRM ), Buy rating and $22.25 target. Top copper pick: Hudbay Minerals Inc (NYSE: HBM ), Buy rating, $10.25 target. Benzingas Take: Despite growing inflation concerns, gold prices have likely disappointed investors in 2021. A large part of golds 5.3% decline year-to-date may be Bitcoin (CRYPTO: BTC) and other cryptocurrencies, which some investors and analysts believe are now surpassing gold as the preferred inflation hedge investment. Story continues Latest Ratings for NEM Aug 2020 UBS Maintains Neutral Jul 2020 Barclays Maintains Equal-Weight Jun 2020 Deutsche Bank Maintains Buy View More Analyst Ratings for NEM View the Latest Analyst Ratings See more from Benzinga Click here for options trades from Benzinga Analyst Expects Rebound In Gold M&A In The Second Half Of 2021 © 2021 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. [Social Media Buzz] None available.	33520.52, 34240.19, 33155.85, 32702.03, 32822.35, 31780.73, 31421.54, 31533.07, 31796.81, 30817.83
Given the historical Bitcoin prices from the last 90 days, predict the next 10 daily closing prices. The historical prices are: 373.06, 374.45, 369.95, 389.59, 386.55, 376.52, 376.62, 373.45, 376.03, 381.65, 379.65, 384.26, 391.86, 407.23, 400.18, 407.49, 416.32, 422.37, 420.79, 437.16, 438.80, 437.75, 420.74, 424.95, 424.54, 432.15, 432.52, 433.50, 437.70, 435.12, 423.99, 421.65, 410.94, 400.57, 407.71, 414.32, 413.97, 414.86, 417.13, 421.69, 411.62, 414.07, 416.44, 416.83, 417.01, 420.62, 409.55, 410.44, 413.76, 413.31, 418.09, 418.04, 416.39, 417.18, 417.95, 426.77, 424.23, 416.52, 414.82, 416.73, 417.96, 420.87, 420.90, 421.44, 424.03, 423.41, 422.74, 420.35, 419.41, 421.56, 422.48, 425.19, 423.73, 424.28, 429.71, 430.57, 427.40, 428.59, 435.51, 441.39, 449.42, 445.74, 450.28, 458.55, 461.43, 466.09, 444.69, 449.01, 455.10, 448.32.	[Bitcoin Technical Analysis for 2016-04-30] Volume: 69322600, RSI (14-day): 56.60, 50-day EMA: 431.44, 200-day EMA: 390.01 [Wider Market Context] None available. [Recent News (last 7 days)] Californian Startup NextTech Invited by Russian Government to Give Blockchain Presentation: LOS ANGELES, CA--(Marketwired - Apr 29, 2016) - US blockchain startup, NextTech, will travel to Moscow next month after receiving an official invitation from the Russian government to give a presentation on cryptocurrencies and the technology underpinning the digital payment system, the blockchain. NextTech, an LA startup with offices in Austin and Houston, is Chaired by Lee Caplin, President of telecommunications provider Picture Entertainment Corp, and pioneer in voice encryption technology, "We are offering a special blend of hardware and fintech services to provide a digital financial ecosystem with enhanced efficiencies using blockchain technology." According to Scott Akers, CEO of Next Tech, "The team will be joined by representatives of the executive branch of Russian government, members of the Central Bank of the Russian Federation, prominent business owners and leading Russian scientists to explore possibilities of Blockchain Technology," outlined by an official letter received by the company earlier this week. Andrey Yalanuzyan, CEO of NextTech Russia and counterpart to Akers' US operations, says, "NextTech, is one of the most advanced and up-to-date startups in Blockchain industry. There is tremendous opportunity to offer a wide spectrum of necessary technical solutions for Russian IT market and many other fields of blockchain development. Russia has a great need to obtain, expand and use the blockchain platform in numerous economic, legal and social fields of modern life. We believe that appropriate implementation of Blockchain in Russia is going to be an evolutionary leap forward." "Governments are beginning to see how the blockchain could be used as a tool for streamlining the inner-workings of state institutions," says Akers. "We are focused on providing a comprehensive overview of the technology and its impact from a legal, economic, social, and technical standpoint." The use of Bitcoin and other crypto-currencies is currently illegal in Russia and various other countries worldwide. Prior associations with illicit online activity -- such as drug dealing, illegal arms sales and human trafficking is increasingly being seen as a distraction from the potential of the 'digital ledger' upon which it is based. Story continues "Our aim at NextTech is to address the misinformation surrounding cryptocurrencies more generally," stresses Akers. "We want to clearly illustrate the difference between 'what it is' and 'what people do with it' -- a crucial distinction." Commonly referred to as the 'blockchain,' the technology underpinning bitcoin is quickly moving mainstream as it is recognized by state officials, central banks -- including the Bank of England -- and private enterprises like Microsoft, as potentially the most secure data filing facility ever created. Downplaying focus on their commercial product offering, NextTech's blocknext.com provides us with a small glimpse into what they have in store for Russia. \|\| Californian Startup NextTech Invited by Russian Government to Give Blockchain Presentation: LOS ANGELES, CA--(Marketwired - Apr 29, 2016) - US blockchain startup, NextTech, will travel to Moscow next month after receiving an official invitation from the Russian government to give a presentation on cryptocurrencies and the technology underpinning the digital payment system, the blockchain. NextTech, an LA startup with offices in Austin and Houston, is Chaired by Lee Caplin, President of telecommunications provider Picture Entertainment Corp, and pioneer in voice encryption technology, "We are offering a special blend of hardware and fintech services to provide a digital financial ecosystem with enhanced efficiencies using blockchain technology." According to Scott Akers, CEO of Next Tech, "The team will be joined by representatives of the executive branch of Russian government, members of the Central Bank of the Russian Federation, prominent business owners and leading Russian scientists to explore possibilities of Blockchain Technology," outlined by an official letter received by the company earlier this week. Andrey Yalanuzyan, CEO of NextTech Russia and counterpart to Akers' US operations, says, "NextTech, is one of the most advanced and up-to-date startups in Blockchain industry. There is tremendous opportunity to offer a wide spectrum of necessary technical solutions for Russian IT market and many other fields of blockchain development. Russia has a great need to obtain, expand and use the blockchain platform in numerous economic, legal and social fields of modern life. We believe that appropriate implementation of Blockchain in Russia is going to be an evolutionary leap forward." "Governments are beginning to see how the blockchain could be used as a tool for streamlining the inner-workings of state institutions," says Akers. "We are focused on providing a comprehensive overview of the technology and its impact from a legal, economic, social, and technical standpoint." The use of Bitcoin and other crypto-currencies is currently illegal in Russia and various other countries worldwide. Prior associations with illicit online activity -- such as drug dealing, illegal arms sales and human trafficking is increasingly being seen as a distraction from the potential of the 'digital ledger' upon which it is based. "Our aim at NextTech is to address the misinformation surrounding cryptocurrencies more generally," stresses Akers. "We want to clearly illustrate the difference between 'what it is' and 'what people do with it' -- a crucial distinction." Commonly referred to as the 'blockchain,' the technology underpinning bitcoin is quickly moving mainstream as it is recognized by state officials, central banks -- including the Bank of England -- and private enterprises like Microsoft, as potentially the most secure data filing facility ever created. Downplaying focus on their commercial product offering, NextTech'sblocknext.comprovides us with a small glimpse into what they have in store for Russia. \|\| Larry Summers joins bitcoin firm as a senior advisor: Digital Currency Group is busy these days. In the last four months alone, the companyacquired the biggest bitcoin news site, CoinDesk, and along with it, the biggest bitcoin conference, Consensus; it alsogave money to Coin Center, the bitcoin industry's nonprofit advocacy group. On Thursday,DCG announced a laundry list of new investors and additions to its team, and among them is one very big name: Larry Summers. Summers, former Treasury secretary and former president of Harvard University, is joining DCG as a senior advisor. It is a reminder that Summers believes in the future of bitcoin, thecrypto-currency that many fare still skeptical about. One year ago, speaking at the Museum of American Finance,Summers was asked about bitcoinand said, "We have seen so little innovation cumulatively directed at taking the frictional costs out of the system. The notion that there’s going to be a lot of innovation and experimentation around how those frictional costs can be taken out feels like a very important kind of idea.” Digital Currency Group is an investment firm that has poured money into 72 different companies, more than two-thirds of which operate in the bitcoin space. A small portion of DCG's portfolio are companies exploring blockchain technology without bitcoin, so DCG calls itself a digital currency firm, not solely a bitcoin firm. (What is the blockchain? Watch our helpful primer video.) But it is associated primarily with bitcoin. DCG's portfolio boasts almost all of the hottest bitcoin startups, and those startups have accounted for more than 70% of all the venture capital put into bitcoin companies in total. The CEO of DCG is Barry Silbert, who in 2004 createdSecondMarket,which allowed for the trading of private-company stock, and in 2015 sold it to Nasdaq (NDAQ).In DCG's release about its news, Summers says, "Barry and his team at DCG are building an important platform with great potential to help these technologies reach mass adoption.” In the past, I have called DCG the Anheuser-Busch InBev (BUD) of the bitcoin world, but you could just as easily compare it to Barry Diller's acquisitiveInterActiveCorp (IAC), and indeed, Silbert says that DCG models itself after IAC and Berkshire Hathaway. (CoinDesk was DCG's first full acquisition, but expect more to come.) The addition of Summers, along with its new investors, supports the comparisons. In addition to bringing on Summers and respected bitcoin developer Gavin Andresen as advisors, DCG has raised a new funding round (it will not disclose the amount) from Western Union (WU), Prudential(PRU) through its investment subsidiary Gibraltar, FoxConn through its investment subsidiary HCM International, and others. But it is the involvement of Summers that may turn some heads on Wall Street. Silbert knows the value of the name. "I've gotten to know Dr. Summers over the past few years," Silbert tells Yahoo Finance, "and it has been fantastic to see his thinking about digital currency and blockchain evolve and mature." What Silbert and DCG and the rest of the bitcoin industry are hoping is that the general attitude toward bitcoin will continue to mature. -- Daniel Roberts is a writer at Yahoo Finance, covering sports business and technology. Read more: How big banks are paying lip service to the blockchain Here’s how you can invest in the blockchain Bitcoin's biggest investor just bought its biggest news site Here's a sign that PayPal is embracing Bitcoin \|\| Larry Summers joins bitcoin firm as a senior advisor: Digital Currency Group is busy these days. In the last four months alone, the company acquired the biggest bitcoin news site, CoinDesk , and along with it, the biggest bitcoin conference, Consensus; it also gave money to Coin Center , the bitcoin industry's nonprofit advocacy group. On Thursday, DCG announced a laundry list of new investors and additions to its team , and among them is one very big name: Larry Summers. Summers, former Treasury secretary and former president of Harvard University, is joining DCG as a senior advisor. It is a reminder that Summers believes in the future of bitcoin, the crypto-currency that many fare still skeptical about . One year ago, speaking at the Museum of American Finance, Summers was asked about bitcoin and said, " We have seen so little innovation cumulatively directed at taking the frictional costs out of the system. The notion that there’s going to be a lot of innovation and experimentation around how those frictional costs can be taken out feels like a very important kind of idea.” Digital Currency Group is an investment firm that has poured money into 72 different companies, more than two-thirds of which operate in the bitcoin space. A small portion of DCG's portfolio are companies exploring blockchain technology without bitcoin, so DCG calls itself a digital currency firm, not solely a bitcoin firm. ( What is the blockchain? Watch our helpful primer video .) But it is associated primarily with bitcoin. DCG's portfolio boasts almost all of the hottest bitcoin startups, and those startups have accounted for more than 70% of all the venture capital put into bitcoin companies in total. The CEO of DCG is Barry Silbert, who in 2004 created SecondMarket, which allowed for the trading of private-company stock, and in 2015 sold it to Nasdaq ( NDAQ ). In DCG's release about its news, Summers says, " Barry and his team at DCG are building an important platform with great potential to help these technologies reach mass adoption.” Story continues In the past, I have called DCG the Anheuser-Busch InBev ( BUD ) of the bitcoin world, but you could just as easily compare it to Barry Diller's acquisitive InterActiveCorp ( IAC ), and indeed, Silbert says that DCG models itself after IAC and Berkshire Hathaway. ( CoinDesk was DCG's first full acquisition , but expect more to come.) T he addition of Summers, along with its new investors, supports the comparisons. In addition to bringing on Summers and respected bitcoin developer Gavin Andresen as advisors, DCG has raised a new funding round (it will not disclose the amount) from Western Union ( WU ), Prudential ( PRU ) through its investment subsidiary Gibraltar, FoxConn through its investment subsidiary HCM International, and others. But it is the involvement of Summers that may turn some heads on Wall Street. Silbert knows the value of the name. "I've gotten to know Dr. Summers over the past few years," Silbert tells Yahoo Finance, "and it has been fantastic to see his thinking about digital currency and blockchain evolve and mature." What Silbert and DCG and the rest of the bitcoin industry are hoping is that the general attitude toward bitcoin will continue to mature. -- Daniel Roberts is a writer at Yahoo Finance, covering sports business and technology. Read more: How big banks are paying lip service to the blockchain Here’s how you can invest in the blockchain Bitcoin's biggest investor just bought its biggest news site Here's a sign that PayPal is embracing Bitcoin \|\| Benton Capital Increases Land Package at Wisa Lake Lithium Project: THUNDER BAY, ONTARIO--(Marketwired - Apr 26, 2016) - Benton Capital Corp. (TSX VENTURE:BTC) ("Benton" or "the Company") would like to announce that it has acquired a 100% interest through staking in an additional 30 units in 2 claims at its Wisa Lake Lithium project located 80km east of Fort Frances, Ontario (see BTC PR April 19, 2016). The property is connected to Highway 11 (Trans Canada), located 65km north, via an all-weather road that crosses the centre of the project. The land position was increased in order to cover an additional spodumene-bearing pegmatitic dyke located approximately 900m south of the Wisa Lake zone. Selective grab samples collected from the zones have been submitted to the laboratory for analysis. As indicated in the Company's PR dated April 19, 2016, the property covers the Wisa Lake deposit with a historical resource of 330,000 tonnes grading 1.15% Li2O (Lexindin Gold Mines Ltd., Manager's Report, 1958; Ontario Geological Survey, Open File Report 6285, Report of Activities 2012). In 1956, Lexindin completed a total of 20 drill holes (packsack and AQ-sized core) over a strike length of 335m and to a depth of approximately 65m to outline the Wisa Lake lithium mineralization. The diamond drill log of the most easterly hole intersected 6.4m containing 20% of the lithium-bearing mineral spodumene suggesting the mineralization is open at depth and to the east. It should be noted that the historical resource estimate for the deposit was calculated prior to CIM National Instrument 43-101 guidelines and as such should only be considered from a historical point of view and not relied upon. A qualified person has not completed sufficient work to classify the historical estimates as current mineral resources. Further diamond drill programs are required to bring the mineralization into a proper NI 43-101 compliant category. The Company has recently applied to change its name to Alset Energy Corp. and in is the process of applying for a new trading symbol. The Company has also granted 2,395,000 options to officers, directors and consultants of the company at a price of 7 cents for a period of 5 years. All of the above transactions are subject to TSX.V and regulatory approvals. Benton Capital is well funded with approximately $1 million in cash. Clinton Barr (P.Geo.), V.P. Exploration for Benton Capital Corp., is the qualified person responsible for this release and has reviewed and approved all scientific and technical data and disclosures in this release. On behalf of the Board of Directors of Benton Capital Corp, Stephen Stares, President THE TSX VENTURE EXCHANGE HAS NOT REVIEWED AND DOES NOT ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE. The information contained herein contains "forward-looking statements" within the meaning of applicable securities legislation. Forward-looking statements relate to information that is based on assumptions of management, forecasts of future results, and estimates of amounts not yet determinable. Any statements that express predictions, expectations, beliefs, plans, projections, objectives, assumptions or future events or performance are not statements of historical fact and may be "forward-looking statements." Forward-looking statements are subject to a variety of risks and uncertainties which could cause actual events or results to differ from those reflected in the forward-looking statements, including, without limitation: risks related to failure to obtain adequate financing on a timely basis and on acceptable terms; risks related to the outcome of legal proceedings; political and regulatory risks associated with mining and exploration; risks related to the maintenance of stock exchange listings; risks related to environmental regulation and liability; the potential for delays in exploration or development activities or the completion of feasibility studies; the uncertainty of profitability; risks and uncertainties relating to the interpretation of drill results, the geology, grade and continuity of mineral deposits; risks related to the inherent uncertainty of production and cost estimates and the potential for unexpected costs and expenses; results of prefeasibility and feasibility studies, and the possibility that future exploration, development or mining results will not be consistent with the Company's expectations; risks related to gold price and other commodity price fluctuations; and other risks and uncertainties related to the Company's prospects, properties and business detailed elsewhere in the Company's disclosure record. Should one or more of these risks and uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those described in forward-looking statements. Investors are cautioned against attributing undue certainty to forward-looking statements. These forward looking statements are made as of the date hereof and the Company does not assume any obligation to update or revise them to reflect new events or circumstances. Actual events or results could differ materially from the Company's expectations or projections. \|\| Benton Capital Increases Land Package at Wisa Lake Lithium Project: THUNDER BAY, ONTARIO--(Marketwired - Apr 26, 2016) - Benton Capital Corp. (TSX VENTURE:BTC) ("Benton" or "the Company") would like to announce that it has acquired a 100% interest through staking in an additional 30 units in 2 claims at its Wisa Lake Lithium project located 80km east of Fort Frances, Ontario (see BTC PR April 19, 2016). The property is connected to Highway 11 (Trans Canada), located 65km north, via an all-weather road that crosses the centre of the project. The land position was increased in order to cover an additional spodumene-bearing pegmatitic dyke located approximately 900m south of the Wisa Lake zone. Selective grab samples collected from the zones have been submitted to the laboratory for analysis. As indicated in the Company's PR dated April 19, 2016, the property covers the Wisa Lake deposit with a historical resource of 330,000 tonnes grading 1.15% Li 2 O (Lexindin Gold Mines Ltd., Manager's Report, 1958; Ontario Geological Survey, Open File Report 6285, Report of Activities 2012). In 1956, Lexindin completed a total of 20 drill holes (packsack and AQ-sized core) over a strike length of 335m and to a depth of approximately 65m to outline the Wisa Lake lithium mineralization. The diamond drill log of the most easterly hole intersected 6.4m containing 20% of the lithium-bearing mineral spodumene suggesting the mineralization is open at depth and to the east. It should be noted that the historical resource estimate for the deposit was calculated prior to CIM National Instrument 43-101 guidelines and as such should only be considered from a historical point of view and not relied upon. A qualified person has not completed sufficient work to classify the historical estimates as current mineral resources. Further diamond drill programs are required to bring the mineralization into a proper NI 43-101 compliant category. The Company has recently applied to change its name to Alset Energy Corp. and in is the process of applying for a new trading symbol. The Company has also granted 2,395,000 options to officers, directors and consultants of the company at a price of 7 cents for a period of 5 years. Story continues All of the above transactions are subject to TSX.V and regulatory approvals. Benton Capital is well funded with approximately $1 million in cash. Clinton Barr (P.Geo.), V.P. Exploration for Benton Capital Corp., is the qualified person responsible for this release and has reviewed and approved all scientific and technical data and disclosures in this release. On behalf of the Board of Directors of Benton Capital Corp, Stephen Stares, President THE TSX VENTURE EXCHANGE HAS NOT REVIEWED AND DOES NOT ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE. The information contained herein contains "forward-looking statements" within the meaning of applicable securities legislation. Forward-looking statements relate to information that is based on assumptions of management, forecasts of future results, and estimates of amounts not yet determinable. Any statements that express predictions, expectations, beliefs, plans, projections, objectives, assumptions or future events or performance are not statements of historical fact and may be "forward-looking statements." Forward-looking statements are subject to a variety of risks and uncertainties which could cause actual events or results to differ from those reflected in the forward-looking statements, including, without limitation: risks related to failure to obtain adequate financing on a timely basis and on acceptable terms; risks related to the outcome of legal proceedings; political and regulatory risks associated with mining and exploration; risks related to the maintenance of stock exchange listings; risks related to environmental regulation and liability; the potential for delays in exploration or development activities or the completion of feasibility studies; the uncertainty of profitability; risks and uncertainties relating to the interpretation of drill results, the geology, grade and continuity of mineral deposits; risks related to the inherent uncertainty of production and cost estimates and the potential for unexpected costs and expenses; results of prefeasibility and feasibility studies, and the possibility that future exploration, development or mining results will not be consistent with the Company's expectations; risks related to gold price and other commodity price fluctuations; and other risks and uncertainties related to the Company's prospects, properties and business detailed elsewhere in the Company's disclosure record. Should one or more of these risks and uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those described in forward-looking statements. Investors are cautioned against attributing undue certainty to forward-looking statements. These forward looking statements are made as of the date hereof and the Company does not assume any obligation to update or revise them to reflect new events or circumstances. Actual events or results could differ materially from the Company's expectations or projections. [Social Media Buzz] LIVE: Profit = $780.91 (9.71 %). BUY B19.49 @ $420.00 (#VirCurex). SELL @ $453.50 (#Bitfinex) #bitcoin #btc - http://www.projectcoin.org \|\| #bitcoin #miner Bitmain Antminer S3+ 453 GH/s Bitcoin BTC ASIC Miner S3 $42.00 http://ift.tt/1VZtixK pic.twitter.com/UV0r2KeOHF \|\| In the last 10 mins, there were arb opps spanning 13 exchange pair(s), yielding profits ranging between $0.00 and $803.23 #bitcoin #btc \|\| $456.79 #coinbase; $453.70 #bitstamp; $453.57 #bitfinex; $451.00 #btce; #bitcoin #b...	451.88, 444.67, 450.30, 446.72, 447.98, 459.60, 458.54, 458.55, 460.48, 450.89
Given the historical Bitcoin prices from the last 90 days, predict the next 10 daily closing prices. The historical prices are: 6676.75, 6644.13, 6601.96, 6625.56, 6589.62, 6556.10, 6502.59, 6576.69, 6622.48, 6588.31, 6602.95, 6652.23, 6642.64, 6585.53, 6256.24, 6274.58, 6285.99, 6290.93, 6596.54, 6596.11, 6544.43, 6476.71, 6465.41, 6489.19, 6482.35, 6487.16, 6475.74, 6495.84, 6476.29, 6474.75, 6480.38, 6486.39, 6332.63, 6334.27, 6317.61, 6377.78, 6388.44, 6361.26, 6376.13, 6419.66, 6461.01, 6530.14, 6453.72, 6385.62, 6409.22, 6411.27, 6371.27, 6359.49, 5738.35, 5648.03, 5575.55, 5554.33, 5623.54, 4871.49, 4451.87, 4602.17, 4365.94, 4347.11, 3880.76, 4009.97, 3779.13, 3820.72, 4257.42, 4278.85, 4017.27, 4214.67, 4139.88, 3894.13, 3956.89, 3753.99, 3521.10, 3419.94, 3476.11, 3614.23, 3502.66, 3424.59, 3486.95, 3313.68, 3242.48, 3236.76, 3252.84, 3545.86, 3696.06, 3745.95, 4134.44, 3896.54, 4014.18, 3998.98, 4078.60, 3815.49.	[Bitcoin Technical Analysis for 2018-12-25] Volume: 6158207293, RSI (14-day): 46.99, 50-day EMA: 4372.05, 200-day EMA: 5994.53 [Wider Market Context] None available. [Recent News (last 7 days)] Bitmain: Bitcoin Mining Giant to Sack 50% of Its Workforce: Bitcoin mining giant Bitmain is going to sack almost half of its staffers by the end of this week, sources from the Chinese media reported. The Beijing company today laid off a team which was working on the development of Bitcoin Cash client. The news broke to the wire when Samson Mow, Blockstream Chief Strategy Officer, and former BTCC Chief Operational Officer, tweeted about it. Mow claimed : Bitmain has quietly laid off their entire Copernicus team. Only 1-week notice. Some had just joined the company. Layoffs just in time for Christmas. Rumors gained more credibility as people, claiming to the ex-employees of Bitmain, started sharing their exit stories on LinkedIn. Dovey Wan, managing director at Danhua Capital, brought the matter to notice via her series of tweets. theres post on Chinese Linkedin (usually very high accuracy, posted by employees themselves) saying Bitmain will start a layoff the coming week A separate rumor said the plan is for more than 50% of its headcount ???! pic.twitter.com/b0ZSBuPX4d Dovey Wan (@DoveyWan) December 23, 2018 Sanyan Finance, a Chinese media outlet, also reached out to Bitmain employees for further confirmation. While they confirmed that the human resource team at Bitmain was speaking to employees about something, they refused to add anything more to their claims that could prove that these employees are certainly getting canned. Story continues Global Layoff? Before the layoff rumor took off, Bitmain had already suspended its operations in the State of Israel. As a local daily reported, Bitmaintech Israel, a development center Bitmain had founded just two years back, fired its entire team , including vice president Gadi Glikberg, citing losses incurred during the latest crypto crash. The crypto market has undergone a shakeup in the past few months, which has forced Bitmain to examine its various activities around the globe and refocus its business by the current situation, Glikberg confirmed. In November, the cryptocurrency market cap lost $70 billion worth of investments after Bitcoin Cash fork threatened the stability of the entire crypto space. Bitmain, which supported one of the Bitcoin Cash camps led by Roger Ver in its quest to attain lead over the other, reportedly suffered millions of dollars worth of losses while diverting Bitcoins surplus hash power to its ally. The extent of their overall damages, including depreciation incurred during a year-long crypto bear market and by the drop in mining equipment sales, could have led Bitmain to go on a firing spree. Although it is currently not known whether or not it is a global layoff, Beijing layoffs are already active, reported 36kr. Bitmain had almost 2,000 employees working across its mining and blockchain development verticals. It is expected to drop to 300 by the time the reported sacking concludes. Featured image from Shutterstock. The post Bitmain: Bitcoin Mining Giant to Sack 50% of Its Workforce appeared first on CCN . \|\| Bitmain: Bitcoin Mining Giant to Sack 50% of Its Workforce: Bitcoin mining giant Bitmain is going to sack almost half of its staffers by the end of this week,sourcesfrom the Chinese media reported. The Beijing company today laid off a team which was working on the development of Bitcoin Cash client. The news broke to the wire when Samson Mow, Blockstream Chief Strategy Officer, and former BTCC Chief Operational Officer, tweeted about it. Mowclaimed: Bitmain has quietly laid off their entire Copernicus team. Only 1-week notice. Some had just joined the company. Layoffs just in time for Christmas. Rumors gained more credibility as people, claiming to the ex-employees of Bitmain, started sharing their exit stories on LinkedIn. Dovey Wan, managing director at Danhua Capital, brought the matter to notice via her series of tweets. Sanyan Finance, a Chinese media outlet, alsoreached outto Bitmain employees for further confirmation. While they confirmed that the human resource team at Bitmain was speaking to employees about “something,” they refused to add anything more to their claims that could prove that these employees are certainly getting canned. Before the layoff rumor took off, Bitmain had already suspended its operations in the State of Israel. As a local daily reported, Bitmaintech Israel, a development center Bitmain had founded just two years back,fired its entire team, including vice president Gadi Glikberg, citing losses incurred during the latest crypto crash. “The crypto market has undergone a shakeup in the past few months, which has forced Bitmain to examine its various activities around the globe and refocus its business by the current situation,” Glikberg confirmed. In November, the cryptocurrency market cap lost $70 billion worth of investments after Bitcoin Cash fork threatened the stability of the entire crypto space. Bitmain, which supported one of the Bitcoin Cash camps led by Roger Ver in its quest to attain lead over the other, reportedly suffered millions of dollars worth of losses while diverting Bitcoin’s surplus hash power to its ally. The extent of their overall damages, including depreciation incurred during a year-long crypto bear market and by the drop in mining equipment sales, could have led Bitmain to go on a firing spree. Although it is currently not known whether or not it is a global layoff, Beijing layoffs are already active, reported 36kr. Bitmain had almost 2,000 employees working across its mining and blockchain development verticals. It is expected to drop to 300 by the time the reported sacking concludes. Featured image from Shutterstock. The postBitmain: Bitcoin Mining Giant to Sack 50% of Its Workforceappeared first onCCN. \|\| Bitmain: Bitcoin Mining Giant to Sack 50% of Its Workforce: Bitcoin mining giant Bitmain is going to sack almost half of its staffers by the end of this week,sourcesfrom the Chinese media reported. The Beijing company today laid off a team which was working on the development of Bitcoin Cash client. The news broke to the wire when Samson Mow, Blockstream Chief Strategy Officer, and former BTCC Chief Operational Officer, tweeted about it. Mowclaimed: Bitmain has quietly laid off their entire Copernicus team. Only 1-week notice. Some had just joined the company. Layoffs just in time for Christmas. Rumors gained more credibility as people, claiming to the ex-employees of Bitmain, started sharing their exit stories on LinkedIn. Dovey Wan, managing director at Danhua Capital, brought the matter to notice via her series of tweets. Sanyan Finance, a Chinese media outlet, alsoreached outto Bitmain employees for further confirmation. While they confirmed that the human resource team at Bitmain was speaking to employees about “something,” they refused to add anything more to their claims that could prove that these employees are certainly getting canned. Before the layoff rumor took off, Bitmain had already suspended its operations in the State of Israel. As a local daily reported, Bitmaintech Israel, a development center Bitmain had founded just two years back,fired its entire team, including vice president Gadi Glikberg, citing losses incurred during the latest crypto crash. “The crypto market has undergone a shakeup in the past few months, which has forced Bitmain to examine its various activities around the globe and refocus its business by the current situation,” Glikberg confirmed. In November, the cryptocurrency market cap lost $70 billion worth of investments after Bitcoin Cash fork threatened the stability of the entire crypto space. Bitmain, which supported one of the Bitcoin Cash camps led by Roger Ver in its quest to attain lead over the other, reportedly suffered millions of dollars worth of losses while diverting Bitcoin’s surplus hash power to its ally. The extent of their overall damages, including depreciation incurred during a year-long crypto bear market and by the drop in mining equipment sales, could have led Bitmain to go on a firing spree. Although it is currently not known whether or not it is a global layoff, Beijing layoffs are already active, reported 36kr. Bitmain had almost 2,000 employees working across its mining and blockchain development verticals. It is expected to drop to 300 by the time the reported sacking concludes. Featured image from Shutterstock. The postBitmain: Bitcoin Mining Giant to Sack 50% of Its Workforceappeared first onCCN. \|\| Bitcoin Falls 11% In Rout: Investing.com - Bitcoin was trading at $3,736.8 by 22:52 (03:52 GMT) on the Investing.com Index on Tuesday, down 11.31% on the day. It was the largest one-day percentage loss since November 19. The move downwards pushed Bitcoin's market cap down to $67.5B, or 52.05% of the total cryptocurrency market cap. At its highest, Bitcoin's market cap was $241.2B. Bitcoin had traded in a range of $3,735.9 to $4,030.7 in the previous twenty-four hours. Over the past seven days, Bitcoin has seen a rise in value, as it gained 9.21%. The volume of Bitcoin traded in the twenty-four hours to time of writing was $6.9B or 28.43% of the total volume of all cryptocurrencies. It has traded in a range of $3,647.4919 to $4,208.1694 in the past 7 days. At its current price, Bitcoin is still down 81.19% from its all-time high of $19,870.62 set on December 17, 2017. XRP was last at $0.36438 on the Investing.com Index, down 6.94% on the day. Ethereum was trading at $123.88 on the Investing.com Index, a loss of 20.60%. XRP's market cap was last at $15.4B or 11.85% of the total cryptocurrency market cap, while Ethereum's market cap totaled $13.5B or 10.38% of the total cryptocurrency market value. Related Articles New Indian Governmental Committee Favors Legalizing Cryptocurrencies, Media Reports Court Win for Bithumb Exchange in Case of Crypto Investor’s $355K Hack Bitcoin Edges Forward Amid Reports of Crypto Industry Layoffs \|\| Bitcoin Falls 11% In Rout: Investing.com - Bitcoin was trading at $3,736.8 by 22:52 (03:52 GMT) on the Investing.com Index on Tuesday, down 11.31% on the day. It was the largest one-day percentage loss since November 19. The move downwards pushed Bitcoin's market cap down to $67.5B, or 52.05% of the total cryptocurrency market cap. At its highest, Bitcoin's market cap was $241.2B. Bitcoin had traded in a range of $3,735.9 to $4,030.7 in the previous twenty-four hours. Over the past seven days, Bitcoin has seen a rise in value, as it gained 9.21%. The volume of Bitcoin traded in the twenty-four hours to time of writing was $6.9B or 28.43% of the total volume of all cryptocurrencies. It has traded in a range of $3,647.4919 to $4,208.1694 in the past 7 days. At its current price, Bitcoin is still down 81.19% from its all-time high of $19,870.62 set on December 17, 2017. XRP was last at $0.36438 on the Investing.com Index, down 6.94% on the day. Ethereum was trading at $123.88 on the Investing.com Index, a loss of 20.60%. XRP's market cap was last at $15.4B or 11.85% of the total cryptocurrency market cap, while Ethereum's market cap totaled $13.5B or 10.38% of the total cryptocurrency market value. Related Articles New Indian Governmental Committee Favors Legalizing Cryptocurrencies, Media Reports Court Win for Bithumb Exchange in Case of Crypto Investor’s $355K Hack Bitcoin Edges Forward Amid Reports of Crypto Industry Layoffs \|\| Bitcoin Falls 11% In Rout: Investing.com - Bitcoin was trading at $3,736.8 by 22:52 (03:52 GMT) on the Investing.com Index on Tuesday, down 11.31% on the day. It was the largest one-day percentage loss since November 19. The move downwards pushed Bitcoin's market cap down to $67.5B, or 52.05% of the total cryptocurrency market cap. At its highest, Bitcoin's market cap was $241.2B. Bitcoin had traded in a range of $3,735.9 to $4,030.7 in the previous twenty-four hours. Over the past seven days, Bitcoin has seen a rise in value, as it gained 9.21%. The volume of Bitcoin traded in the twenty-four hours to time of writing was $6.9B or 28.43% of the total volume of all cryptocurrencies. It has traded in a range of $3,647.4919 to $4,208.1694 in the past 7 days. At its current price, Bitcoin is still down 81.19% from its all-time high of $19,870.62 set on December 17, 2017. Elsewhere in cryptocurrency trading XRP was last at $0.36438 on the Investing.com Index, down 6.94% on the day. Ethereum was trading at $123.88 on the Investing.com Index, a loss of 20.60%. XRP's market cap was last at $15.4B or 11.85% of the total cryptocurrency market cap, while Ethereum's market cap totaled $13.5B or 10.38% of the total cryptocurrency market value. Related Articles New Indian Governmental Committee Favors Legalizing Cryptocurrencies, Media Reports Court Win for Bithumb Exchange in Case of Crypto Investors $355K Hack Bitcoin Edges Forward Amid Reports of Crypto Industry Layoffs \|\| Bitcoin Maintains Bullish Bias, Eyeing $4,500 as Upside Target: Bitcoin on Monday maintained its bullish bias despite facing rejection by a strong resistance area. Thebitcoin-to-dollar exchange ratesurged from $3,956 to $4,244 as the Asian session kicked in. The pair attempted a breakout action but got held by a moderate selling pressure near the session peak. By the European session, an interim bearish correction has brought bitcoin to its session low near $4,022. At press time, the Bitcoin/Dollar rate again is going through a minor accumulation period, which could enable the pair to retest $4,244 for a potential breakout. Technically,bitcoin pricehas completed its inverse head and shoulder scenario with its neckline tied around $4,244. As the coin consolidates below this level, the likelihood of an extended downside correction is more. In the event of a breakout, the price could set its targets towards $4,418-4,500 area in the interim scenario, bringing adequate opportunities for small profits. The 4H chart is also displaying a Goldern Cross scenario. The candlestick pattern is formed when a near-term moving average jumps above a long-term moving average. As of now, the 50-period moving average is clearly crossing above the 200-period moving average, confirming a breakout scenario for the bitcoin-dollar pair. On a daily chart, at the same time, the 50-period remains much below the 200-period, confirming that thebreakout action– if it takes place – would not confirm an out-and-out bullish bias in long-term. The RSI momentum indicator confirms a bullish presence after finding buyers in the 50-60 area. In the wake of the aforementioned bullish indicators, there is a likelihood for the RSI to attempt a go at the overbought area. Meanwhile, the quoted dollar looked weaker on Monday, over a partial government shutdown in the US. Its impact on the bitcoin market cannot be identified at press time. Using the same chart above, we have defined our today’s range by $4,244 as interim resistance and $3,976 as interim support. Our day begins by entering a long position towards $4,244 with plans to extend it on a breakout action, towards $4,500, our psychological upside target. As we pursue the bullish sentiment, we would maintain our stop loss just 1-pip below our entry position. It would ensure that we don’t lose much should there be a sign of an extended downside correction. In case bitcoin confirms $4,244 as resistance and reverses, then we will open a short position towards $3,976 while eyeing the 50-period moving average as our potential downside target. As usual, we would maintain our stop-loss order just 1-pip above the entry position to manage our risks efficiently. Featured image from Shutterstock. The postBitcoin Maintains Bullish Bias, Eyeing $4,500 as Upside Targetappeared first onCCN. \|\| Bitcoin Maintains Bullish Bias, Eyeing $4,500 as Upside Target: Bitcoin on Monday maintained its bullish bias despite facing rejection by a strong resistance area. Thebitcoin-to-dollar exchange ratesurged from $3,956 to $4,244 as the Asian session kicked in. The pair attempted a breakout action but got held by a moderate selling pressure near the session peak. By the European session, an interim bearish correction has brought bitcoin to its session low near $4,022. At press time, the Bitcoin/Dollar rate again is going through a minor accumulation period, which could enable the pair to retest $4,244 for a potential breakout. Technically,bitcoin pricehas completed its inverse head and shoulder scenario with its neckline tied around $4,244. As the coin consolidates below this level, the likelihood of an extended downside correction is more. In the event of a breakout, the price could set its targets towards $4,418-4,500 area in the interim scenario, bringing adequate opportunities for small profits. The 4H chart is also displaying a Goldern Cross scenario. The candlestick pattern is formed when a near-term moving average jumps above a long-term moving average. As of now, the 50-period moving average is clearly crossing above the 200-period moving average, confirming a breakout scenario for the bitcoin-dollar pair. On a daily chart, at the same time, the 50-period remains much below the 200-period, confirming that thebreakout action– if it takes place – would not confirm an out-and-out bullish bias in long-term. The RSI momentum indicator confirms a bullish presence after finding buyers in the 50-60 area. In the wake of the aforementioned bullish indicators, there is a likelihood for the RSI to attempt a go at the overbought area. Meanwhile, the quoted dollar looked weaker on Monday, over a partial government shutdown in the US. Its impact on the bitcoin market cannot be identified at press time. Using the same chart above, we have defined our today’s range by $4,244 as interim resistance and $3,976 as interim support. Our day begins by entering a long position towards $4,244 with plans to extend it on a breakout action, towards $4,500, our psychological upside target. As we pursue the bullish sentiment, we would maintain our stop loss just 1-pip below our entry position. It would ensure that we don’t lose much should there be a sign of an extended downside correction. In case bitcoin confirms $4,244 as resistance and reverses, then we will open a short position towards $3,976 while eyeing the 50-period moving average as our potential downside target. As usual, we would maintain our stop-loss order just 1-pip above the entry position to manage our risks efficiently. Featured image from Shutterstock. The postBitcoin Maintains Bullish Bias, Eyeing $4,500 as Upside Targetappeared first onCCN. \|\| Bitcoin Maintains Bullish Bias, Eyeing $4,500 as Upside Target: Bitcoin on Monday maintained its bullish bias despite facing rejection by a strong resistance area. The bitcoin-to-dollar exchange rate surged from $3,956 to $4,244 as the Asian session kicked in. The pair attempted a breakout action but got held by a moderate selling pressure near the session peak. By the European session, an interim bearish correction has brought bitcoin to its session low near $4,022. At press time, the Bitcoin/Dollar rate again is going through a minor accumulation period, which could enable the pair to retest $4,244 for a potential breakout. Technically, bitcoin price has completed its inverse head and shoulder scenario with its neckline tied around $4,244. As the coin consolidates below this level, the likelihood of an extended downside correction is more. In the event of a breakout, the price could set its targets towards $4,418-4,500 area in the interim scenario, bringing adequate opportunities for small profits. The 4H chart is also displaying a Goldern Cross scenario. The candlestick pattern is formed when a near-term moving average jumps above a long-term moving average. As of now, the 50-period moving average is clearly crossing above the 200-period moving average, confirming a breakout scenario for the bitcoin-dollar pair. On a daily chart, at the same time, the 50-period remains much below the 200-period, confirming that the breakout action if it takes place would not confirm an out-and-out bullish bias in long-term. The RSI momentum indicator confirms a bullish presence after finding buyers in the 50-60 area. In the wake of the aforementioned bullish indicators, there is a likelihood for the RSI to attempt a go at the overbought area. Meanwhile, the quoted dollar looked weaker on Monday, over a partial government shutdown in the US. Its impact on the bitcoin market cannot be identified at press time. Bitcoin/Dollar Intraday Targets Using the same chart above, we have defined our todays range by $4,244 as interim resistance and $3,976 as interim support. Story continues Our day begins by entering a long position towards $4,244 with plans to extend it on a breakout action, towards $4,500, our psychological upside target. As we pursue the bullish sentiment, we would maintain our stop loss just 1-pip below our entry position. It would ensure that we dont lose much should there be a sign of an extended downside correction. In case bitcoin confirms $4,244 as resistance and reverses, then we will open a short position towards $3,976 while eyeing the 50-period moving average as our potential downside target. As usual, we would maintain our stop-loss order just 1-pip above the entry position to manage our risks efficiently. Featured image from Shutterstock. The post Bitcoin Maintains Bullish Bias, Eyeing $4,500 as Upside Target appeared first on CCN . \|\| Why Goldman Sachs Suddenly Starting Bitcoin Business is Unrealistic: SolidX: According to Daniel H. Gallancy, the CEO of SolidX Partners, it was unrealistic to anticipate Goldman Sachs to run a Bitcoin business before the year’s end. Speaking to Bloomberg, Gallancy, who has been working with a major investment firm in VanEck to introduce aBitcoin exchange-traded fund (ETF)inU.S. markets, said that investors prematurely expectedGoldman Sachs,Morgan Stanley, and other financial institutions in the U.S. to provide Bitcoin custodial solutions and operate digital asset exchanges. Hesaid: The market had unrealistic expectations that Goldman or any of its peers could suddenly start a Bitcoin trading business. That was top-of-the-market-hype thinking. Morgan Stanley, Citigroup, and many other large banks that were rumored to launch Bitcoin-related ventures by the end of 2018 were most likely not going to aggressively enter a market built upon an asset class that is still at its infancy. But, Goldman Sachs, the $61 billion investment banking giant, has been preparing to offer Bitcoin services to its clients for awhile. As CCNreportedin June, for the first time in the company’s history, David Solomon, who is now the CEO of Goldman Sachs, directly confirmed that the bank has been clearing some Bitcoin futures for its clients with the intent of establishing a cryptocurrency trading desk in the foreseeable future. “We are clearing some futures around Bitcoin, talking about doing some other activities there, but it’s going very cautiously. We’re listening to our clients and trying to help our clients as they’re exploring those things too. Goldman Sachs must evolve its business and adapt to the environment,” said Solomon in aninterviewwith Bloomberg TV in China. Although Goldman Sachs could clear Bitcoin futures with the assistance ofCME,CBOE, and other established futures markets in the U.S. market, it cannot hold onto the cryptocurrencies owned by its investors or invest in the asset class on behalf of its clients without obtaining an approval to operate as a custodian. In November, Justin Schmidt, a Goldman Sachs executive, said that the bank has not been able to receive approval from local financial authorities and in a period in which a bill pertaining to the legal definition of digital assets is still pending, it is risky for the institutions to provide services around the market. “Custody is this foundational piece that is absolutely necessary. Custody is part of an overall integrated system where different parts need to work well with each other and safely with each other and you have to be able to trust all the different parts in that chain, from buying something to transferring it to storing it in for the long-term,” Schmidtsaidat the time. It could have been unrealistic to expect Morgan Stanley, Citigroup, and many major banks in the global financial landscape to abruptly begin providing services on top of Bitcoin, and many of these institutions also likely saw a PR opportunity to alter their public image as some innovative and forward-thinking organizations. However, some institutions like Fidelity and Goldman Sachs are seriously considering the long-term prospect of the market and in the long run, the two institutions could serve investors in the digital asset market. Featured image from Shutterstock. Daniel Gallancy photo from LinkedIn. The postWhy Goldman Sachs Suddenly Starting Bitcoin Business is Unrealistic: SolidXappeared first onCCN. \|\| Why Goldman Sachs Suddenly Starting Bitcoin Business is Unrealistic: SolidX: According to Daniel H. Gallancy, the CEO of SolidX Partners, it was unrealistic to anticipate Goldman Sachs to run a Bitcoin business before the year’s end. Speaking to Bloomberg, Gallancy, who has been working with a major investment firm in VanEck to introduce a Bitcoin exchange-traded fund (ETF) in U.S. markets , said that investors prematurely expected Goldman Sachs , Morgan Stanley , and other financial institutions in the U.S. to provide Bitcoin custodial solutions and operate digital asset exchanges. He said : The market had unrealistic expectations that Goldman or any of its peers could suddenly start a Bitcoin trading business. That was top-of-the-market-hype thinking. Goldman Sachs is a Bit Different Morgan Stanley, Citigroup, and many other large banks that were rumored to launch Bitcoin-related ventures by the end of 2018 were most likely not going to aggressively enter a market built upon an asset class that is still at its infancy. But, Goldman Sachs, the $61 billion investment banking giant, has been preparing to offer Bitcoin services to its clients for awhile. As CCN reported in June, for the first time in the company’s history, David Solomon, who is now the CEO of Goldman Sachs, directly confirmed that the bank has been clearing some Bitcoin futures for its clients with the intent of establishing a cryptocurrency trading desk in the foreseeable future. “We are clearing some futures around Bitcoin, talking about doing some other activities there, but it’s going very cautiously. We’re listening to our clients and trying to help our clients as they’re exploring those things too. Goldman Sachs must evolve its business and adapt to the environment,” said Solomon in an interview with Bloomberg TV in China. Although Goldman Sachs could clear Bitcoin futures with the assistance of CME , CBOE , and other established futures markets in the U.S. market, it cannot hold onto the cryptocurrencies owned by its investors or invest in the asset class on behalf of its clients without obtaining an approval to operate as a custodian. Story continues In November, Justin Schmidt, a Goldman Sachs executive, said that the bank has not been able to receive approval from local financial authorities and in a period in which a bill pertaining to the legal definition of digital assets is still pending, it is risky for the institutions to provide services around the market. “Custody is this foundational piece that is absolutely necessary. Custody is part of an overall integrated system where different parts need to work well with each other and safely with each other and you have to be able to trust all the different parts in that chain, from buying something to transferring it to storing it in for the long-term,” Schmidt said at the time. Can Investors Expect Bitcoin Services in 2019? It could have been unrealistic to expect Morgan Stanley, Citigroup, and many major banks in the global financial landscape to abruptly begin providing services on top of Bitcoin, and many of these institutions also likely saw a PR opportunity to alter their public image as some innovative and forward-thinking organizations. However, some institutions like Fidelity and Goldman Sachs are seriously considering the long-term prospect of the market and in the long run, the two institutions could serve investors in the digital asset market. Featured image from Shutterstock. Daniel Gallancy photo from LinkedIn. The post Why Goldman Sachs Suddenly Starting Bitcoin Business is Unrealistic: SolidX appeared first on CCN . \|\| Why Goldman Sachs Suddenly Starting Bitcoin Business is Unrealistic: SolidX: According to Daniel H. Gallancy, the CEO of SolidX Partners, it was unrealistic to anticipate Goldman Sachs to run a Bitcoin business before the year’s end. Speaking to Bloomberg, Gallancy, who has been working with a major investment firm in VanEck to introduce aBitcoin exchange-traded fund (ETF)inU.S. markets, said that investors prematurely expectedGoldman Sachs,Morgan Stanley, and other financial institutions in the U.S. to provide Bitcoin custodial solutions and operate digital asset exchanges. Hesaid: The market had unrealistic expectations that Goldman or any of its peers could suddenly start a Bitcoin trading business. That was top-of-the-market-hype thinking. Morgan Stanley, Citigroup, and many other large banks that were rumored to launch Bitcoin-related ventures by the end of 2018 were most likely not going to aggressively enter a market built upon an asset class that is still at its infancy. But, Goldman Sachs, the $61 billion investment banking giant, has been preparing to offer Bitcoin services to its clients for awhile. As CCNreportedin June, for the first time in the company’s history, David Solomon, who is now the CEO of Goldman Sachs, directly confirmed that the bank has been clearing some Bitcoin futures for its clients with the intent of establishing a cryptocurrency trading desk in the foreseeable future. “We are clearing some futures around Bitcoin, talking about doing some other activities there, but it’s going very cautiously. We’re listening to our clients and trying to help our clients as they’re exploring those things too. Goldman Sachs must evolve its business and adapt to the environment,” said Solomon in aninterviewwith Bloomberg TV in China. Although Goldman Sachs could clear Bitcoin futures with the assistance ofCME,CBOE, and other established futures markets in the U.S. market, it cannot hold onto the cryptocurrencies owned by its investors or invest in the asset class on behalf of its clients without obtaining an approval to operate as a custodian. In November, Justin Schmidt, a Goldman Sachs executive, said that the bank has not been able to receive approval from local financial authorities and in a period in which a bill pertaining to the legal definition of digital assets is still pending, it is risky for the institutions to provide services around the market. “Custody is this foundational piece that is absolutely necessary. Custody is part of an overall integrated system where different parts need to work well with each other and safely with each other and you have to be able to trust all the different parts in that chain, from buying something to transferring it to storing it in for the long-term,” Schmidtsaidat the time. It could have been unrealistic to expect Morgan Stanley, Citigroup, and many major banks in the global financial landscape to abruptly begin providing services on top of Bitcoin, and many of these institutions also likely saw a PR opportunity to alter their public image as some innovative and forward-thinking organizations. However, some institutions like Fidelity and Goldman Sachs are seriously considering the long-term prospect of the market and in the long run, the two institutions could serve investors in the digital asset market. Featured image from Shutterstock. Daniel Gallancy photo from LinkedIn. The postWhy Goldman Sachs Suddenly Starting Bitcoin Business is Unrealistic: SolidXappeared first onCCN. \|\| Korea Institute of Finance Director: Crypto Custody is Key in Rapid Growth: Gong-pil Choi, the director of the Korea Institute of Finance, said that custody in crypto is crucial in eliminating hacking fears and facilitating the growth of the market. The Korea Institute of Finance, an agency that works with the government to research and evaluate financial policies to bolster the country’s financial sector, has emphasized that the management of public keys to access Bitcoin and other cryptocurrency wallets is burdensome and is difficult for normal investors. Crypto Custody is Key Brokerages and asset managers provide custody of traditional assets because of the risk involved in maintaining ownership over an asset. Director Choi said that in the short-term, the custody market in the cryptocurrency sector will grow rapidly as investors seek for regulated and secure ways to invest in the emerging asset class. He stated : Cryptocurrency exchanges are risky due to hacking fears and the storage of private keys can be burdensome for investors, as in the case of theft, it can cause trouble. Even the traditional financial sector has seen the establishment of the custody market. Cryptocurrencies are more risky than traditional assets and the custody market in crypto will become a rapidly growing market. Major cryptocurrency exchanges in the U.S. market such as Coinbase have started to focus on delivering reliable custodial services to both retail and institutional investors. Some existing businesses in the cryptocurrency space including BitGo have acquired trusted and regulated custodians to operate as cryptocurrency custodial service providers. Even in China, which has imposed a strict blanket ban on cryptocurrency trading, crypto custodians have debuted with strong support from local venture capital firms. In November, a Shanghai-based startup debuted to provide custodian services to cryptocurrency trading platforms and over-the-counter (OTC) exchanges. Kenneth Xu, the CEO of the startup, told SCMP, a Hong Kong mainstream media outlet, that the demand for institutional custodian services has started to increase in Asia especially in regions like Hong Kong and Singapore. Story continues Hwang Hyun-cheol, a general partner at a blockchain investment firm based in South Korea , said that in an event during which a major asset manager or an institution enters the cryptocurrency market, custodial services and regulated investment vehicles are necessary to facilitate a large investment. He explained: If an asset manager that oversees $1 billion puts 1 percent of its capital in crypto, that’s already a big amount. These institutions can only enter the crypto market if there are tools to hedge and protect their investments. A strong infrastructure for large-scale institutional investors has to be established. How Far Away is it? Currently, Fidelity remains as the only institution amongst the world’s largest financial organizations to be providing crypto custody to clients. Goldman Sachs and Morgan Stanley shared their intent to provide cryptocurrency products in the short-term but both companies have been waiting for regulatory approval from the U.S. authorities. Due to regulatory leniency, more custodians are expected to debut in Asia first, in established markets like South Korea , Japan , and Singapore . Featured image from Shutterstock. The post Korea Institute of Finance Director: Crypto Custody is Key in Rapid Growth appeared first on CCN . \|\| Korea Institute of Finance Director: Crypto Custody is Key in Rapid Growth: Gong-pil Choi, the director of the Korea Institute of Finance, said that custody in crypto is crucial in eliminating hacking fears and facilitating the growth of the market. The Korea Institute of Finance, an agency that works with the government to research and evaluate financial policies to bolster the country’s financial sector, has emphasized that the management of public keys to access Bitcoin and other cryptocurrency wallets is burdensome and is difficult for normal investors. Crypto Custody is Key Brokerages and asset managers provide custody of traditional assets because of the risk involved in maintaining ownership over an asset. Director Choi said that in the short-term, the custody market in the cryptocurrency sector will grow rapidly as investors seek for regulated and secure ways to invest in the emerging asset class. He stated : Cryptocurrency exchanges are risky due to hacking fears and the storage of private keys can be burdensome for investors, as in the case of theft, it can cause trouble. Even the traditional financial sector has seen the establishment of the custody market. Cryptocurrencies are more risky than traditional assets and the custody market in crypto will become a rapidly growing market. Major cryptocurrency exchanges in the U.S. market such as Coinbase have started to focus on delivering reliable custodial services to both retail and institutional investors. Some existing businesses in the cryptocurrency space including BitGo have acquired trusted and regulated custodians to operate as cryptocurrency custodial service providers. Even in China, which has imposed a strict blanket ban on cryptocurrency trading, crypto custodians have debuted with strong support from local venture capital firms. In November, a Shanghai-based startup debuted to provide custodian services to cryptocurrency trading platforms and over-the-counter (OTC) exchanges. Kenneth Xu, the CEO of the startup, told SCMP, a Hong Kong mainstream media outlet, that the demand for institutional custodian services has started to increase in Asia especially in regions like Hong Kong and Singapore. Story continues Hwang Hyun-cheol, a general partner at a blockchain investment firm based in South Korea , said that in an event during which a major asset manager or an institution enters the cryptocurrency market, custodial services and regulated investment vehicles are necessary to facilitate a large investment. He explained: If an asset manager that oversees $1 billion puts 1 percent of its capital in crypto, that’s already a big amount. These institutions can only enter the crypto market if there are tools to hedge and protect their investments. A strong infrastructure for large-scale institutional investors has to be established. How Far Away is it? Currently, Fidelity remains as the only institution amongst the world’s largest financial organizations to be providing crypto custody to clients. Goldman Sachs and Morgan Stanley shared their intent to provide cryptocurrency products in the short-term but both companies have been waiting for regulatory approval from the U.S. authorities. Due to regulatory leniency, more custodians are expected to debut in Asia first, in established markets like South Korea , Japan , and Singapore . Featured image from Shutterstock. The post Korea Institute of Finance Director: Crypto Custody is Key in Rapid Growth appeared first on CCN . \|\| How Much Money You Need Saved to Retire by 50: Nearly half of non-retired Americans predict that they won't retire until at least age 66, according to a 2018 Gallup poll. But what if you could be one of the few who retire far earlier than that? Imagine being able to spend your 50s traveling, pursuing your hobbies, and spending more time with your children -- not being stuck in the office or reporting to a boss, Sounds picturesque, right? The good news is that it is possible to retire that early, but the bad news is that it's not going to be easy -- and it will likely require a lot of sacrifices. Image source: Getty Images. There are two main challenges you'll face when planning to retire early. First, you have less time to save income before you leave your job, so you'll need to supercharge your savings to build a strong nest egg before you retire. Second, because you'll be spending more years in retirement than the average retiree, you'll need to have even more money stashed away. For these reasons, retiring super early simply isn't feasible for many people. Those who do retire early can find themselves forced back into the workforce when their savings run dry. One third of Americans have less than $5,000 saved for retirement, according to a recent survey by Northwestern Mutual, so being able to save enough to retire by 50 is a lofty (and perhaps unattainable) goal for most people. That being said, if you have your heart set on retiring as early as possible, here's what it would take. Before you can even think about retiring, you'll need to know how much to have saved -- yourretirement number. There's no easy way to get an accurate idea of how much you'll need during retirement, but there are a few ways to get a ballpark estimate. For example, some financial experts recommend multiplying your current income by 25 to get a rough goal in mind. While that's a good place to start, it's a vague (and potentially inaccurate) estimate, so take that number with a grain of salt. You can also use aretirement calculator, again keeping in mind that it won't be 100% accurate. (Test several different calculators to get a range of answers because they're based on different factors and inputs.) Also consider any other sources of income you may have during retirement. While you're not eligible to start claiming Social Security benefits until age 62, they can help cushion your nest egg later on. (To get an idea of how much you may receive in benefits, check out the Social Securityonline calculator.) If you have a pension plan through your employer, don't forget about that income. So, say you're currently earning $60,000, and you expect to continue spending that much each year throughout retirement. Let's also say you'll be receiving $15,000 per year in Social Security benefits if youstart claiming them at age 62. That means you'll only need to pull $45,000 per year from your own savings. However, from age 50 to 62, you won't have those benefits to lean on -- so all your income will need to come from your personal savings. To play it safe, it's a good idea to leave Social Security out of the equation (at least for now). It's always better to overestimate how much you'll need to have saved, rather than underestimate and risk running out of money. If you retire as early as 50, your savings will need to last several decades -- so it's wise to save more than you think you need in case you do live into your 90s or beyond. So in this example, multiplying $60,000 by 25, you should aim for around $1.5 million in savings by the time you retire. Keep in mind that this is just a rough estimate, and you might actually need more or less than this during retirement. But for simplicity's sake, it's a good number to start with. A nest egg of $1.5 million won't be easy to achieve, but it's a little more manageable when you break it down bit by bit, to see how much you'll need to save each month or each year to reach that goal. Exactly how much you'll need to save will depend on several factors, most notably the amount of time you have left to save. Theearlier you start saving, the easier it will be to save more -- because your money has more time to grow. If you wait until, say, age 40 to start saving, it will be nearly impossible to save $1.5 million in 10 years. But if you start in your 20s, it will be considerably easier. Imagine you're a 25-year-old with nothing saved yet for retirement. Assuming you're earning a 7% annual rate of return on your investments, you'll need to save around $2,000 per month for 25 years to end up with $1.5 million by age 50. Wait until age 30 to start saving, and you'll need to sock away around $3,000 per month to reach that goal. At this point, it's time for a reality check to decide whether early retirement would really be feasible for you -- and more importantly, whether it's actually worth it. While early retirement sounds dreamy on paper, is it worth the extra sacrifices you'd have to make in the decades leading up to retirement? Or would it be more enjoyable to delay retirement by a decade or two, but then be able to spend more money on the things you love in the years before you retire? There's no right or wrong answer, as it's a highly personal decision. But it's something to think about as you're deciding whether early retirement is right for you. No matter when you choose to retire, saving for the future is never easy. And while many people dream of being able to retire early, it's a goal few are able to actually achieve. But it's not impossible. If you're up for the challenge, you may be able to ditch your job and be the envy of everyone wishing they could do the same. More From The Motley Fool • 3 Growth Stocks at Deep-Value Prices • 5 Expected Social Security Changes in 2018 • 6 Years Later, 6 Charts That Show How Far Apple, Inc. Has Come Since Steve Jobs' Passing • 10 Best Stocks to Buy Today • The $16,122 Social Security Bonus You Cannot Afford to Miss • Bitcoin's Biggest Competitor Isn't Ethereum -- It's This The Motley Fool has adisclosure policy. \|\| How Much Money You Need Saved to Retire by 50: Nearly half of non-retired Americans predict that they won't retire until at least age 66, according to a 2018 Gallup poll. But what if you could be one of the few who retire far earlier than that? Imagine being able to spend your 50s traveling, pursuing your hobbies, and spending more time with your children -- not being stuck in the office or reporting to a boss, Sounds picturesque, right? The good news is that it is possible to retire that early, but the bad news is that it's not going to be easy -- and it will likely require a lot of sacrifices. Man and woman sitting on the beach relaxing Image source: Getty Images. There are two main challenges you'll face when planning to retire early. First, you have less time to save income before you leave your job, so you'll need to supercharge your savings to build a strong nest egg before you retire. Second, because you'll be spending more years in retirement than the average retiree, you'll need to have even more money stashed away. For these reasons, retiring super early simply isn't feasible for many people. Those who do retire early can find themselves forced back into the workforce when their savings run dry. One third of Americans have less than $5,000 saved for retirement, according to a recent survey by Northwestern Mutual, so being able to save enough to retire by 50 is a lofty (and perhaps unattainable) goal for most people. That being said, if you have your heart set on retiring as early as possible, here's what it would take. 1. Determine your retirement number, or savings goal. Before you can even think about retiring, you'll need to know how much to have saved -- your retirement number . There's no easy way to get an accurate idea of how much you'll need during retirement, but there are a few ways to get a ballpark estimate. For example, some financial experts recommend multiplying your current income by 25 to get a rough goal in mind. While that's a good place to start, it's a vague (and potentially inaccurate) estimate, so take that number with a grain of salt. You can also use a retirement calculator , again keeping in mind that it won't be 100% accurate. (Test several different calculators to get a range of answers because they're based on different factors and inputs.) Story continues Also consider any other sources of income you may have during retirement. While you're not eligible to start claiming Social Security benefits until age 62, they can help cushion your nest egg later on. (To get an idea of how much you may receive in benefits, check out the Social Security online calculator .) If you have a pension plan through your employer, don't forget about that income. So, say you're currently earning $60,000, and you expect to continue spending that much each year throughout retirement. Let's also say you'll be receiving $15,000 per year in Social Security benefits if you start claiming them at age 62 . That means you'll only need to pull $45,000 per year from your own savings. However, from age 50 to 62, you won't have those benefits to lean on -- so all your income will need to come from your personal savings. To play it safe, it's a good idea to leave Social Security out of the equation (at least for now). It's always better to overestimate how much you'll need to have saved, rather than underestimate and risk running out of money. If you retire as early as 50, your savings will need to last several decades -- so it's wise to save more than you think you need in case you do live into your 90s or beyond. So in this example, multiplying $60,000 by 25, you should aim for around $1.5 million in savings by the time you retire. Keep in mind that this is just a rough estimate, and you might actually need more or less than this during retirement. But for simplicity's sake, it's a good number to start with. 2. Determine how much you need to save to reach it. A nest egg of $1.5 million won't be easy to achieve, but it's a little more manageable when you break it down bit by bit, to see how much you'll need to save each month or each year to reach that goal. Exactly how much you'll need to save will depend on several factors, most notably the amount of time you have left to save. The earlier you start saving , the easier it will be to save more -- because your money has more time to grow. If you wait until, say, age 40 to start saving, it will be nearly impossible to save $1.5 million in 10 years. But if you start in your 20s, it will be considerably easier. Imagine you're a 25-year-old with nothing saved yet for retirement. Assuming you're earning a 7% annual rate of return on your investments, you'll need to save around $2,000 per month for 25 years to end up with $1.5 million by age 50. Wait until age 30 to start saving, and you'll need to sock away around $3,000 per month to reach that goal. At this point, it's time for a reality check to decide whether early retirement would really be feasible for you -- and more importantly, whether it's actually worth it. While early retirement sounds dreamy on paper, is it worth the extra sacrifices you'd have to make in the decades leading up to retirement? Or would it be more enjoyable to delay retirement by a decade or two, but then be able to spend more money on the things you love in the years before you retire? There's no right or wrong answer, as it's a highly personal decision. But it's something to think about as you're deciding whether early retirement is right for you. No matter when you choose to retire, saving for the future is never easy. And while many people dream of being able to retire early, it's a goal few are able to actually achieve. But it's not impossible. If you're up for the challenge, you may be able to ditch your job and be the envy of everyone wishing they could do the same. More From The Motley Fool 3 Growth Stocks at Deep-Value Prices 5 Expected Social Security Changes in 2018 6 Years Later, 6 Charts That Show How Far Apple, Inc. Has Come Since Steve Jobs' Passing 10 Best Stocks to Buy Today The $16,122 Social Security Bonus You Cannot Afford to Miss Bitcoin's Biggest Competitor Isn't Ethereum -- It's This The Motley Fool has a disclosure policy . \|\| Is NovoCure a Buy?: Billions of dollars have been spent on research and development in the battle against cancer. Unfortunately, cancer still claims more than half a million lives in the U.S. alone each year. Novocure (NASDAQ: NVCR) is on a mission to give patients with cancer a fighting chance. This innovative medical-device company is harnessing the power of physics to approach cancer treatment from a unique perspective. The company discovered that electric fields can be manipulated to inhibit cell division in cancerous tumorous. Novocure calls this new method of treatment tumor treating fields , or TTFields for short, and is pushing hard to convince healthcare providers to add this new weapon to their arsenals. Its early success at winning over skeptics has led to explosive revenue growth, and its share price has soared . Is Novocure a buy today, or is it too late to get in? Two hands with one thumb up and one down Image source: Getty Images. The technology Nearly two decades ago, Novocure's founder discovered that electric fields could be used to inhibit division in certain types of cells. The company also figured out that tuning an electric field to a specific frequency would disrupt division in certain types of cells without having any impact on other types of cells (Novocure's Bill Doyle explained this process in great detail during a Ted Talk ). A key benefit of this technology is that TTFields could be fine-tuned to disrupt cell division in cancerous tumors while leaving nearby healthy cell alone. This allows TTField therapy to be administered with minimal side effects. Novocure took its knowledge of TTFields and created a portable electric field generator called Optune, which won FDA approval to treat recurrent glioblastoma in 2011. Glioblastoma is an especially aggressive form of brain cancer that has a very low, five-year survival rate. Thankfully, Novocure showed last year that using Optune in combination with current standard-of-care treatments led to improved survival rates. Story continues The opportunity Novocure has launched Optune in the U.S., Europe, and Japan. The company's business model is to bill for Optune on a monthly basis. That's why a key metric for investors to watch is the number of active users that are on Optune at any given time. Demand for Optune has grown steadily as providers, payers, and patients became more comfortable with the technology. In turn, Novocure's revenue has soared. Metric 2015 2016 2017 2018* Active patients 605 1,091 1,834 2,252* Revenue $33.1 million $82.9 million $177 million $178 million* Data as of Sept. 30, 2018. Data source: Novocure. Glioblastoma is a rare form of cancer, so the company's current market opportunity for Optune is limited. However, the company believes that TTFields could also be useful in treating a wide variety of solid-tumor cancers down the road. Management is investing aggressively in R&D in an effort to capitalize on that potential. How big could the company's total addressable market grow if TTFields are shown to be effective in other types of cancer? Here's an overview of Optune's label expansion potential: Indication Status Potential Annual Patient Population in Target Markets Glioblastoma Approved 14,000 Mesothelioma Pending approval 13,000 Brain Metastases Phase 3 trial end 2020 258,000 Lung cancer Phase 3 trial ends 2021 659,000 Pancreatic cancer Phase 3 trial ends 2022 223,000 Data source: Novocure. These numbers are enormous when compared to the company's current active patient count of just 2,252. If Novocure can win approval in any of these indications, then its upside potential is truly massive. Digging into the financials Novocure has operated at a loss since its founding. The company is still losing money today, even with its considerable revenue growth. A key reason why is that the company has been plowing money into growing its commercial team and funding its late-stage R&D programs. If any of those clinical trials result in label expansion claims, that will prove to be money well spent. Novocure's net loss for all of 2018 should come in right around $60 million or so. Funding that loss won't be a problem because the company had more than $226 million in cash in the bank as of the end of September. Market watchers predict that the company's net loss will shrink considerably in 2019. If that happens, the company shouldn't have to tap investors for additional capital anytime soon. Is NovoCure a buy? For NovoCure to be a successful investment from here, it must be able to win label expansion claims into other types of cancer. Since regulatory success is never guaranteed, this isn't a good stock for risk-averse investors to buy. Personally, I think the odds of Optune winning label expansion claims are quite good given that the company has already shown clinical success in treating brain cancer, and Optune's side effects are so minimal. That's why I decided to become a shareholder. If you have a strong stomach for risk and want a stock that could turn into a home run, NovoCure might be for you. More From The Motley Fool 3 Growth Stocks at Deep-Value Prices 5 Expected Social Security Changes in 2018 6 Years Later, 6 Charts That Show How Far Apple, Inc. Has Come Since Steve Jobs' Passing 10 Best Stocks to Buy Today The $16,122 Social Security Bonus You Cannot Afford to Miss Bitcoin's Biggest Competitor Isn't Ethereum -- It's This Brian Feroldi owns shares of NovoCure. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy . \|\| Is NovoCure a Buy?: Billions of dollars have been spent on research and development in the battle against cancer. Unfortunately, cancer still claims more than half a million lives in the U.S. alone each year. Novocure(NASDAQ: NVCR)is on a mission to give patients with cancer a fighting chance. This innovative medical-device company is harnessing the power of physics to approach cancer treatment from a unique perspective. The company discovered that electric fields can be manipulated to inhibit cell division in cancerous tumorous. Novocure calls this new method of treatmenttumor treating fields, or TTFields for short, and is pushing hard to convince healthcare providers to add this new weapon to their arsenals. Its early success at winning over skeptics has led to explosive revenue growth, and itsshare price has soared. Is Novocure a buy today, or is it too late to get in? Image source: Getty Images. Nearly two decades ago, Novocure's founder discovered that electric fields could be used to inhibit divisionin certain types of cells. The company also figured out that tuning an electric field to a specific frequency would disrupt division in certain types of cells without having any impact on other types of cells (Novocure's Bill Doyle explained this process in great detail during aTed Talk). A key benefit of this technology is that TTFields could be fine-tuned to disrupt cell division in cancerous tumors while leaving nearby healthy cell alone. This allowsTTField therapy to be administered withminimal side effects. Novocure took its knowledge of TTFields and created a portable electric field generator called Optune, which won FDA approval to treat recurrent glioblastoma in 2011. Glioblastoma is an especially aggressive form of brain cancer that has a very low, five-year survival rate. Thankfully, Novocure showed last year that using Optune in combination with current standard-of-care treatments led toimproved survival rates. Novocure has launched Optune in the U.S., Europe, and Japan. The company's business model is to bill for Optune on a monthly basis. That's why akey metric for investors to watch is the number of active users that are on Optune at any given time. Demand for Optune has grown steadily as providers, payers, and patients became more comfortable with the technology. In turn, Novocure's revenue has soared. [{"Metric": "Active patients", "2015": "605", "2016": "1,091", "2017": "1,834", "2018": "2,252"}, {"Metric": "Revenue", "2015": "$33.1 million", "2016": "$82.9 million", "2017": "$177 million", "2018": "$178 million"}] Data as of Sept. 30, 2018. Data source: Novocure. Glioblastoma is a rare form of cancer, so the company's current market opportunity for Optune is limited.However, the company believes that TTFields could also be useful in treating a wide variety of solid-tumor cancers down the road. Management is investing aggressively in R&D in an effort to capitalize on that potential. How big could the company's total addressable market grow if TTFields are shown to be effective in other types of cancer?Here's an overview of Optune's label expansion potential: [{"Indication": "Glioblastoma", "Status": "Approved", "Potential Annual Patient Population in Target Markets": "14,000"}, {"Indication": "Mesothelioma", "Status": "Pending approval", "Potential Annual Patient Population in Target Markets": "13,000"}, {"Indication": "Brain Metastases", "Status": "Phase 3 trial end 2020", "Potential Annual Patient Population in Target Markets": "258,000"}, {"Indication": "Lung cancer", "Status": "Phase 3 trial ends 2021", "Potential Annual Patient Population in Target Markets": "659,000"}, {"Indication": "Pancreatic cancer", "Status": "Phase 3 trial ends 2022", "Potential Annual Patient Population in Target Markets": "223,000"}] Data source: Novocure. These numbers areenormouswhen compared to the company's current active patient count of just 2,252. If Novocure can win approval in any of these indications, then its upside potential is truly massive. Novocure has operated at a loss since its founding. The company is still losing money today, even with its considerable revenue growth. A key reason why is that the company has been plowing money into growing its commercial team and funding its late-stage R&D programs. If any of those clinical trials result in label expansion claims, that will prove to be money well spent. Novocure's net loss for all of 2018 should come in right around $60 million or so. Funding that loss won't be a problem because the company had more than $226 million in cash in the bank as of the end of September. Market watchers predict that the company's net loss will shrink considerably in 2019. If that happens, the company shouldn't have to tap investors for additional capital anytime soon. For NovoCure to be a successful investment from here, it must be able to win label expansion claims into other types of cancer. Since regulatory success is never guaranteed, this isn't a good stock for risk-averse investors to buy. Personally, I think the odds of Optune winning label expansion claims are quite good given that the company has already shown clinical success in treating brain cancer, and Optune's side effects are so minimal. That's why I decided to become a shareholder. If you have a strong stomach for risk and want a stock that could turn into a home run, NovoCure might be for you. More From The Motley Fool • 3 Growth Stocks at Deep-Value Prices • 5 Expected Social Security Changes in 2018 • 6 Years Later, 6 Charts That Show How Far Apple, Inc. Has Come Since Steve Jobs' Passing • 10 Best Stocks to Buy Today • The $16,122 Social Security Bonus You Cannot Afford to Miss • Bitcoin's Biggest Competitor Isn't Ethereum -- It's This Brian Feroldiowns shares of NovoCure. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has adisclosure policy. \|\| These 3 Remote-Work Stats Make a Strong Case for Telecommuting: In recent years, there's been a push among employees for moreflexibilityin work scheduling. For one thing, flexibility can lead to a betterwork-life balance-- something countless workers no doubt crave. Butnew data from Remote.co,a website that promotes the practice, tells us that flexibility doesn't just make workers happier; it also leads to better results. If your company has yet to adopt flexible scheduling, here are three statistics about remote work that just might change your mind. Many companies are wary of letting workers telecommute. The logic is that when managers aren't physically present to oversee employees, those employees will be more likely to slack off. Additionally, in the absence of certain resources that might only be available in an office setting, employees might struggle to complete key tasks. Image source: Getty Images. Actually, most workers say they'remoreproductive, not less, when they're allowed towork from home.And it makes sense. Working from home means less background noise and fewer individual interruptions from well-meaning co-workers who might err on the side of being overly chatty. Furthermore, folks who do their jobs from home are often less likely to get pulled into last-minutemeetings-- meetings that might disrupt their workflow and take up undue chunks of their time. It's not just employees themselves who believe they do a better job when they telecommute. Most managers agree that when workers are allowed to do their jobs from home, they get more done. Some of this might also boil down to accountability: When workers are given the privilege of working remotely, they might up their game in an effort to prove that they can be trusted to work independently. Either way, the companies that employ them win out as well. Too much work-related stress isn't just bad for employees' health; it can result in employees completelyburning outand losing all motivation. The fact that most telecommuters experience less job stress than those who work in offices unearths another good reason to support remote arrangements. Folks who work from home can more easily avoid getting sucked into other people's conflicts. And for those who would otherwise have anaggravating commute,nothaving to start off each day battling traffic is a good way to eliminate avoidable tension, thereby letting those workers focus their mental energy on their actual jobs. Employees who get the option to work from home are often less distracted, more productive, and less likely to burn out. If your company has thus far dismissed the idea of flexible work arrangements, it's time to make the case for a change. Otherwise, you not only risk a decline in worker satisfaction and output, but also risk losing valued employees to the many other companies more flexible than yours. More From The Motley Fool • 3 Growth Stocks at Deep-Value Prices • 5 Expected Social Security Changes in 2018 • 6 Years Later, 6 Charts That Show How Far Apple, Inc. Has Come Since Steve Jobs' Passing • 10 Best Stocks to Buy Today • The $16,122 Social Security Bonus You Cannot Afford to Miss • Bitcoin's Biggest Competitor Isn't Ethereum -- It's This The Motley Fool has adisclosure policy. \|\| These 3 Remote-Work Stats Make a Strong Case for Telecommuting: In recent years, there's been a push among employees for more flexibility in work scheduling. For one thing, flexibility can lead to a better work-life balance -- something countless workers no doubt crave. But new data from Remote.co, a website that promotes the practice, tells us that flexibility doesn't just make workers happier; it also leads to better results. If your company has yet to adopt flexible scheduling, here are three statistics about remote work that just might change your mind. 1. An estimated 86% of workers are more productive when working remotely Many companies are wary of letting workers telecommute. The logic is that when managers aren't physically present to oversee employees, those employees will be more likely to slack off. Additionally, in the absence of certain resources that might only be available in an office setting, employees might struggle to complete key tasks. Woman at laptop and talking on phone Image source: Getty Images. Actually, most workers say they're more productive, not less, when they're allowed to work from home. And it makes sense. Working from home means less background noise and fewer individual interruptions from well-meaning co-workers who might err on the side of being overly chatty. Furthermore, folks who do their jobs from home are often less likely to get pulled into last-minute meetings -- meetings that might disrupt their workflow and take up undue chunks of their time. 2. Two-thirds of managers say employees who work remotely increase their overall productivity It's not just employees themselves who believe they do a better job when they telecommute. Most managers agree that when workers are allowed to do their jobs from home, they get more done. Some of this might also boil down to accountability: When workers are given the privilege of working remotely, they might up their game in an effort to prove that they can be trusted to work independently. Either way, the companies that employ them win out as well. Story continues 3. A good 82% of telecommuters have less stress than their office-worker counterparts Too much work-related stress isn't just bad for employees' health; it can result in employees completely burning out and losing all motivation. The fact that most telecommuters experience less job stress than those who work in offices unearths another good reason to support remote arrangements. Folks who work from home can more easily avoid getting sucked into other people's conflicts. And for those who would otherwise have an aggravating commute, not having to start off each day battling traffic is a good way to eliminate avoidable tension, thereby letting those workers focus their mental energy on their actual jobs. Employees who get the option to work from home are often less distracted, more productive, and less likely to burn out. If your company has thus far dismissed the idea of flexible work arrangements, it's time to make the case for a change. Otherwise, you not only risk a decline in worker satisfaction and output, but also risk losing valued employees to the many other companies more flexible than yours. More From The Motley Fool 3 Growth Stocks at Deep-Value Prices 5 Expected Social Security Changes in 2018 6 Years Later, 6 Charts That Show How Far Apple, Inc. Has Come Since Steve Jobs' Passing 10 Best Stocks to Buy Today The $16,122 Social Security Bonus You Cannot Afford to Miss Bitcoin's Biggest Competitor Isn't Ethereum -- It's This The Motley Fool has a disclosure policy . [Social Media Buzz] [http://CoinNess.com Market Surveillance December 25: Bitcoin Fluctuates Around $3800] As of 11:00 (UTC) o... https://api.coinness.com/s/BIo7Q pic.twitter.com/0Fv0IdgfqC \|\| #BTCUSD Market #1H timeframe on December 25 at 16:00 (UTC) is #Bearish. #cryptocurrency #bitcoin #btc #crypto #trading #idea #report technical analysis \|\| 1 BTC = 15350.00085000 BRL em 25/12/2018 ás 10:00:02. #bitcoin #bitcoinbr #bitcoinexchangebr \|\| #BTCUSD Market #1H timeframe on December 25 at 04:00 (UTC) is #Beari...	3857.30, 3654.83, 3923.92, 3820.41, 3865.95, 3742.70, 3843.52, 3943.41, 3836.74, 3857.72
Given the historical Bitcoin prices from the last 90 days, predict the next 10 daily closing prices. The historical prices are: 9374.89, 9525.36, 9581.07, 9536.89, 9677.11, 9905.17, 10990.87, 10912.82, 11100.47, 11111.21, 11323.47, 11759.59, 11053.61, 11246.35, 11205.89, 11747.02, 11779.77, 11601.47, 11754.05, 11675.74, 11878.11, 11410.53, 11584.93, 11784.14, 11768.87, 11865.70, 11892.80, 12254.40, 11991.23, 11758.28, 11878.37, 11592.49, 11681.83, 11664.85, 11774.60, 11366.13, 11488.36, 11323.40, 11542.50, 11506.87, 11711.51, 11680.82, 11970.48, 11414.03, 10245.30, 10511.81, 10169.57, 10280.35, 10369.56, 10131.52, 10242.35, 10363.14, 10400.92, 10442.17, 10323.76, 10680.84, 10796.95, 10974.91, 10948.99, 10944.59, 11094.35, 10938.27, 10462.26, 10538.46, 10246.19, 10760.07, 10692.72, 10750.72, 10775.27, 10709.65, 10844.64, 10784.49, 10619.45, 10575.97, 10549.33, 10669.58, 10793.34, 10604.41, 10668.97, 10915.69, 11064.46, 11296.36, 11384.18, 11555.36, 11425.90, 11429.51, 11495.35, 11322.12, 11358.10, 11483.36.	[Bitcoin Technical Analysis for 2020-10-18] Volume: 18283314340, RSI (14-day): 62.00, 50-day EMA: 10968.89, 200-day EMA: 10079.27 [Wider Market Context] None available. [Recent News (last 7 days)] ALT 5 Sigma Digital Instrument Market Summary for BTC, ETH, LTC, BCH: NEW YORK, NY / ACCESSWIRE / October 17, 2020 / ALT 5 Sigma Inc. an emerging leader in blockchain powered financial platforms provides its daily digital instruments market summary for Bitcoin (BTC/USD), Ether (ETH/USD), Litecoin (LTC/USD). Real-Time Market Data is available at www.alt5pro.com and Real-Time Market Data feed is also available at www.alt5sigma.com . ALT 5 Sigma Digital Instrument Market Summary for BTC, ETH, LTC, BCH About ALT 5 Sigma Inc. ALT 5 is a fintech company specializing in the development and deployment of digital assets trading and exchange platforms. Alt 5 was founded by financial industry specialists out of the necessity to provide the digital asset economy with security, accessibility, transparency and compliance. ALT 5 provides its clients the ability to buy, sell and hold digital assets in a safe and secure environment deployed with the best practices of the financial industry. ALT 5's products and services are available to Banks, Broker Dealers, Funds, Family Offices, Professional Traders, Retail Traders, Digital Asset Exchanges, Digital Asset Brokers, Blockchain Developers, and Financial Information Providers. ALT 5's digital asset custodian services are secured by GardaWorld. GardaWorld is the world's largest privately-owned business solutions and security services company, offering cash management services. For more information, visit www.alt5sigma.com . Contact: Andre Beauchesne Tel. 1-800-204-6203 [email protected] For more information on ALT 5 Pay, visit www.alt5pay.com For more information on ALT 5 Pro, visit www.alt5pro.com SOURCE: ALT 5 Sigma Inc. View source version on accesswire.com: https://www.accesswire.com/610916/ALT-5-Sigma-Digital-Instrument-Market-Summary-for-BTC-ETH-LTC-BCH \|\| ALT 5 Sigma Digital Instrument Market Summary for BTC, ETH, LTC, BCH: NEW YORK, NY / ACCESSWIRE / October 17, 2020 /ALT 5 Sigma Inc. an emerging leader in blockchain powered financial platforms provides its daily digital instruments market summary for Bitcoin (BTC/USD), Ether (ETH/USD), Litecoin (LTC/USD). Real-Time Market Data is available atwww.alt5pro.comand Real-Time Market Data feed is also available atwww.alt5sigma.com.ALT 5 Sigma Digital Instrument Market Summary for BTC, ETH, LTC, BCH About ALT 5 Sigma Inc. ALT 5 is a fintech company specializing in the development and deployment of digital assets trading and exchange platforms. Alt 5 was founded by financial industry specialists out of the necessity to provide the digital asset economy with security, accessibility, transparency and compliance. ALT 5 provides its clients the ability to buy, sell and hold digital assets in a safe and secure environment deployed with the best practices of the financial industry. ALT 5's products and services are available to Banks, Broker Dealers, Funds, Family Offices, Professional Traders, Retail Traders, Digital Asset Exchanges, Digital Asset Brokers, Blockchain Developers, and Financial Information Providers. ALT 5's digital asset custodian services are secured by GardaWorld. GardaWorld is the world's largest privately-owned business solutions and security services company, offering cash management services. For more information, visitwww.alt5sigma.com. Contact: Andre BeauchesneTel. [email protected] For more information on ALT 5 Pay, visitwww.alt5pay.comFor more information on ALT 5 Pro, visitwww.alt5pro.com SOURCE:ALT 5 Sigma Inc. View source version on accesswire.com:https://www.accesswire.com/610916/ALT-5-Sigma-Digital-Instrument-Market-Summary-for-BTC-ETH-LTC-BCH \|\| ALT 5 Sigma Digital Instrument Market Summary for BTC, ETH, LTC, BCH: NEW YORK, NY / ACCESSWIRE / October 17, 2020 /ALT 5 Sigma Inc. an emerging leader in blockchain powered financial platforms provides its daily digital instruments market summary for Bitcoin (BTC/USD), Ether (ETH/USD), Litecoin (LTC/USD). Real-Time Market Data is available atwww.alt5pro.comand Real-Time Market Data feed is also available atwww.alt5sigma.com.ALT 5 Sigma Digital Instrument Market Summary for BTC, ETH, LTC, BCH About ALT 5 Sigma Inc. ALT 5 is a fintech company specializing in the development and deployment of digital assets trading and exchange platforms. Alt 5 was founded by financial industry specialists out of the necessity to provide the digital asset economy with security, accessibility, transparency and compliance. ALT 5 provides its clients the ability to buy, sell and hold digital assets in a safe and secure environment deployed with the best practices of the financial industry. ALT 5's products and services are available to Banks, Broker Dealers, Funds, Family Offices, Professional Traders, Retail Traders, Digital Asset Exchanges, Digital Asset Brokers, Blockchain Developers, and Financial Information Providers. ALT 5's digital asset custodian services are secured by GardaWorld. GardaWorld is the world's largest privately-owned business solutions and security services company, offering cash management services. For more information, visitwww.alt5sigma.com. Contact: Andre BeauchesneTel. [email protected] For more information on ALT 5 Pay, visitwww.alt5pay.comFor more information on ALT 5 Pro, visitwww.alt5pro.com SOURCE:ALT 5 Sigma Inc. View source version on accesswire.com:https://www.accesswire.com/610916/ALT-5-Sigma-Digital-Instrument-Market-Summary-for-BTC-ETH-LTC-BCH \|\| Where Does Bitcoin Fit in the Global Reserve Currency Game?: On this “Speaking of Bitcoin” episode, join hosts Adam B. Levine, Andreas M. Antonopoulos, Stephanie Murphy and Jonathan Mohan for a look at the past, present and future of global reserve currencies For more episodes and free early access before our regular releases, subscribe with Apple Podcasts , Spotify , Pocketcasts , Google Podcasts , Castbox , Stitcher , RadioPublica , iHeartRadio or RSS . This episode is sponsored by Crypto.com , Nexo.io and Elliptic Related: First Mover: 'Blue Wave' in US Senate Could Mean Flood of Stimulus for Bitcoin In the beginning there was the global reserve currency (U.S. dollars), national currencies like the Japanese yen, alternative currencies like Ithaca hours and just one cryptocurrency, bitcoin . But what a difference a decade can make. Today there are thousands of cryptocurrencies, many created by enthusiasts who have ideas on how to make something even better than bitcoin, but also currencies that use some of the technology that makes bitcoin so powerful, but which pairs it with the authority of a national government like the digital yuan in China, the digital euro out of Brussels, or even a globe-spanning corporation with billions of customers like the libra, backed by Facebook. In this emerging picture, is bitcoin still interesting? First attempts, which bitcoin very much is, are often not the successful attempts. And, importantly, as the world changes and we get closer to something other than the dollar standard, where does bitcoin fit? See also: Getting Internet Identity Right, 30 Years On Related Stories Where Does Bitcoin Fit in the Global Reserve Currency Game? Where Does Bitcoin Fit in the Global Reserve Currency Game? Where Does Bitcoin Fit in the Global Reserve Currency Game? \|\| Where Does Bitcoin Fit in the Global Reserve Currency Game?: On this “Speaking of Bitcoin” episode, join hosts Adam B. Levine, Andreas M. Antonopoulos, Stephanie Murphy and Jonathan Mohan for a look at the past, present and future of global reserve currencies Formore episodesand free early access before our regular releases, subscribe withApple Podcasts,Spotify,Pocketcasts,Google Podcasts,Castbox,Stitcher,RadioPublica,iHeartRadioorRSS. This episode is sponsored byCrypto.com,Nexo.ioandElliptic Related:First Mover: 'Blue Wave' in US Senate Could Mean Flood of Stimulus for Bitcoin In the beginning there was the global reserve currency (U.S. dollars), national currencies like the Japanese yen, alternative currencies like Ithaca hours and just one cryptocurrency,bitcoin. But what a difference a decade can make. Today there are thousands of cryptocurrencies, many created by enthusiasts who have ideas on how to make something even better than bitcoin, but also currencies that use some of the technology that makes bitcoin so powerful, but which pairs it with the authority of a national government like the digital yuan in China, the digital euro out of Brussels, or even a globe-spanning corporation with billions of customers like the libra, backed by Facebook. In this emerging picture, is bitcoin still interesting? First attempts, which bitcoin very much is, are often not the successful attempts. And, importantly, as the world changes and we get closer to something other than the dollar standard, where does bitcoin fit? See also:Getting Internet Identity Right, 30 Years On • Where Does Bitcoin Fit in the Global Reserve Currency Game? • Where Does Bitcoin Fit in the Global Reserve Currency Game? • Where Does Bitcoin Fit in the Global Reserve Currency Game? \|\| Where Does Bitcoin Fit in the Global Reserve Currency Game?: On this “Speaking of Bitcoin” episode, join hosts Adam B. Levine, Andreas M. Antonopoulos, Stephanie Murphy and Jonathan Mohan for a look at the past, present and future of global reserve currencies Formore episodesand free early access before our regular releases, subscribe withApple Podcasts,Spotify,Pocketcasts,Google Podcasts,Castbox,Stitcher,RadioPublica,iHeartRadioorRSS. This episode is sponsored byCrypto.com,Nexo.ioandElliptic Related:First Mover: 'Blue Wave' in US Senate Could Mean Flood of Stimulus for Bitcoin In the beginning there was the global reserve currency (U.S. dollars), national currencies like the Japanese yen, alternative currencies like Ithaca hours and just one cryptocurrency,bitcoin. But what a difference a decade can make. Today there are thousands of cryptocurrencies, many created by enthusiasts who have ideas on how to make something even better than bitcoin, but also currencies that use some of the technology that makes bitcoin so powerful, but which pairs it with the authority of a national government like the digital yuan in China, the digital euro out of Brussels, or even a globe-spanning corporation with billions of customers like the libra, backed by Facebook. In this emerging picture, is bitcoin still interesting? First attempts, which bitcoin very much is, are often not the successful attempts. And, importantly, as the world changes and we get closer to something other than the dollar standard, where does bitcoin fit? See also:Getting Internet Identity Right, 30 Years On • Where Does Bitcoin Fit in the Global Reserve Currency Game? • Where Does Bitcoin Fit in the Global Reserve Currency Game? • Where Does Bitcoin Fit in the Global Reserve Currency Game? \|\| New data show how dominant Tether has become as a trading pair on crypto exchanges: Bitcoin used to be far and away the most popular trading pair at crypto exchanges. These days, the distinction belongs to Tether. Around 70% of the trading volume at exchanges is now denominated in Tether, while 15% is denominated in bitcoin and another 4% is in other stablecoins. In the first quarter of 2017, bitcoin pairs were nearly 50% of the volume, whileonly 5% of spot volume was denominated in Tether, and USD pairs comprised about 40%, according to data compiled byThe Block Research. One explanation for the trend is the declining dominance of derivatives exchange, BitMEX. According to The Block Research's Larry Cermak, BitMEX only accepts BTC as collateral and the exchange's dominance in 2017 contributed to bitcoin's dominance as the base trading pair. Now, competitors including OKEx, Huobi, and Binance are stealing market share away from BitMEX — and they all support Tether as collateral. For more information about theTetherization of trading, subscribe to The Block Research. © 2020 The Block Crypto, Inc. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice. \|\| New data show how dominant Tether has become as a trading pair on crypto exchanges: Bitcoin used to be far and away the most popular trading pair at crypto exchanges. These days, the distinction belongs to Tether. Around 70% of the trading volume at exchanges is now denominated in Tether, while 15% is denominated in bitcoin and another 4% is in other stablecoins. In the first quarter of 2017, bitcoin pairs were nearly 50% of the volume, while only 5% of spot volume was denominated in Tether, and USD pairs comprised about 40%, according to data compiled by The Block Research . One explanation for the trend is the declining dominance of derivatives exchange, BitMEX. According to The Block Research's Larry Cermak, BitMEX only accepts BTC as collateral and the exchange's dominance in 2017 contributed to bitcoin's dominance as the base trading pair. Now, competitors including OKEx, Huobi, and Binance are stealing market share away from BitMEX — and they all support Tether as collateral. For more information about the Tetherization of trading , subscribe to The Block Research. © 2020 The Block Crypto, Inc. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice. \|\| Cryptocurrency Is Just a Minor Threat to the State: Are cryptocurrencies a new form of money and, if so, do they threaten state power? Our friend Nic Carter has recently commented on these questions in dialogue with the Federal Reserve Bank of New York. We would like to add our perspective and thoughts on this, as we believe there is value to be derived from discussing these matters in depth. For better and worse, we believe that blockchains such as Bitcoin, Ethereum and Handshake (in which I am involved) have features that make them a novel threat to the powers that states derive from currency issuance — but only a very marginal threat. This fairly mild conclusion flows from more controversial premises. Steven McKie is a founding partner and managing director at Amentum Capital, developer on HandyMiner and HandyBrowser for Handshake and host of the BlockChannel podcast. A version of this article first appeared on Amentum’s blog . Related: First Mover: 'Blue Wave' in US Senate Could Mean Flood of Stimulus for Bitcoin The New York Fed writers name three kinds of money: fiat money, money with intrinsic or commodity value and claim-backed money. Without getting lost in the weeds, we think this overcomplicates things. All money that we can think of falls into two categories: either it has intrinsic value (like edible grains) or it doesn’t. If it doesn’t, then its value comes from the supposition that someone else values it. This mysterious “someone else” might be totally unspecified, as when we suppose someone will pay us for gold; or it might include a specific party, such as a state, that promises to take the money in exchange for, e.g., discharging tax obligations. Bitcoin , like gold in the post-gold-standard era, falls into the former category. It has no intrinsic value and nobody in particular has promised to exchange anything for it. We just guess that someone will. But we should not be surprised that the world’s most popular kinds of money are the ones that states explicitly promise to honor. For states, such promises are an extremely important instrument of their power. For example, by only accepting dollars as tax payment, the United States obliges its hundreds of millions of people to make sure they have dollars handy. Because of this, everyone in the world knows they can sell their dollars to someone (i.e., to U.S. residents). Moreover, everyone knows that by accumulating dollars they gain certain leverage over the United States. This situation enables the United States to print its own money and in so doing, project its power around the world. Story continues The power to print money also gives states another kind of power: It enables them to maximize their productivity. By increasing the money supply, they can pull more people on the margins of the economy into the productive process. But this comes at the cost of the scarcity of money and, because it puts the newly minted money directly into the pockets of the less-powerful, tends to decrease the power of those who have already accumulated a lot of money. Hence, artificial constraints of the money supply, like the gold standard, are often associated with extremely conservative politics. Constraining the money supply hurts productivity, but it preserves social hierarchies. Related: 'Boring' Bitcoin Market Sends Miners' Fee Earnings to 3-Month Low This is where the more benign hopes of transcending nation-states mix with the darker fantasies of so-called bitcoin maximalists. On the one hand, a meaningful alternative to national currencies could allow people in abusive regimes not to rely on their governments’ worthless “promises.” On the other hand, a mechanistically fixed supply of money could put an unequal social hierarchy beyond the reach of democratic power, as the gold standard once did. Read more: Trump’s Security Hawks Call Distributed Ledgers ‘Critical’ in US-China Tech Arms Race Bitcoin, in this respect, is very much like gold. And like gold, it poses no active threat to state currencies or state power. For the value of state currencies – as described above – is predicated upon the actual, practical power of states. Throughout modern history, the preeminent reserve currency has been the coin of the world’s preeminent military power. Only if states lose their status as the main global powers are their currencies likely to follow suit. Cryptocurrencies are only playing around the margins of this reality. Still, they can play an interesting role because they have features that prior non-state currencies did not. For example, they can facilitate coordination and communication between their holders. Imagine if all the holders of gold could, for example, vote on whether to mine more. Moreover, some cryptocurrencies have intrinsic value, such as ether (paying for the use of a distributed network), or HNS (paying for domain names on a decentralized registry). Improved diplomacy through incentives The ongoing improvements in global cooperation that happen in the bitcoin/crypto private sector derive from the many players that ensure a proof-of-work (PoW) system remains secure. The intricacies that go into the production of hashrate, such as power and chipmaker pricing negotiation, manufacturing, international sales and marketing, mining pools and hashpower secondary markets. All are playing a piece in hardening relationships locally and internationally. Therefore, a properly secured chain has then worked its way into regional regulations and labor, becoming a localized economic staple over time as it approaches scale. And, the second-order effects that come from that embedded chain of incentives include a public blockchain that is secure, not just technically but socially and politically. The most secure chains possessing such widespread economies of scale become powerful economic instruments of finance and political social progress (albeit slowly, but each new major public chain hastens this emergent process, thankfully). In essence, though these systems may at first seem adversarial to state power by their very design, if you look more closely you’ll see they inherently (slowly) improve diplomacy via scalable trustless cooperation and international business over time. To understand more on the “alchemy of PoW hashpower” and how it naturally derives incentives for international business cooperation, see this ongoing series from Anicca Research . The trustless systems we deploy globally have powerful consequences, and it’s important that we as an industry understand how to continually scale the positive aspects of decentralized monetary systems, without amplifying the negative effects such as centralized financial influence. States are not wrong to be somewhat threatened by these hard-to-assess possibilities. If many people decide they would rather hold cryptocurrencies than state-backed currencies, it will diminish states’ abilities to project power through their coins. Read more: The Crypto-Dollar Surge and the American Opportunity But states still have the armies, the police and – on a good day anyway – democratic legitimacy. All of that still matters, and will for a long time. Related Stories Cryptocurrency Is Just a Minor Threat to the State Cryptocurrency Is Just a Minor Threat to the State \|\| Cryptocurrency Is Just a Minor Threat to the State: Are cryptocurrencies a new form of money and, if so, do they threaten state power? Our friend Nic Carter has recentlycommentedon these questions indialoguewith the Federal Reserve Bank of New York. We would like to add our perspective and thoughts on this, as we believe there is value to be derived from discussing these matters in depth. For better and worse, we believe that blockchains such as Bitcoin, Ethereum and Handshake (in which I am involved) have features that make them a novel threat to the powers that states derive from currency issuance — but only a very marginal threat. This fairly mild conclusion flows from more controversial premises. Steven McKie is a founding partner and managing director at Amentum Capital, developer on HandyMiner and HandyBrowser for Handshake and host of the BlockChannel podcast. A version of this article first appeared onAmentum’s blog. Related:First Mover: 'Blue Wave' in US Senate Could Mean Flood of Stimulus for Bitcoin The New York Fed writers name three kinds of money: fiat money, money with intrinsic or commodity value and claim-backed money. Without getting lost in the weeds, we think this overcomplicates things. All money that we can think of falls into two categories: either it has intrinsic value (like edible grains) or it doesn’t. If it doesn’t, then its value comes from the supposition that someone else values it. This mysterious “someone else” might be totally unspecified, as when we suppose someone will pay us for gold; or it might include a specific party, such as a state, that promises to take the money in exchange for, e.g., discharging tax obligations.Bitcoin, like gold in the post-gold-standard era, falls into the former category. It has no intrinsic value and nobody in particular has promised to exchange anything for it. We just guess that someone will. But we should not be surprised that the world’s most popular kinds of money are the ones that states explicitly promise to honor. For states, such promises are an extremely important instrument of their power. For example, by only accepting dollars as tax payment, the United States obliges its hundreds of millions of people to make sure they have dollars handy. Because of this, everyone in the world knows they can sell their dollars to someone (i.e., to U.S. residents). Moreover, everyone knows that by accumulating dollars they gain certain leverage over the United States. This situation enables the United States to print its own money and in so doing, project its power around the world. The power to print money also gives states another kind of power: It enables them to maximize their productivity. By increasing the money supply, they can pull more people on the margins of the economy into the productive process. But this comes at the cost of the scarcity of money and, because it puts the newly minted money directly into the pockets of the less-powerful, tends to decrease the power of those who have already accumulated a lot of money. Hence, artificial constraints of the money supply, like the gold standard, are often associated with extremely conservative politics. Constraining the money supply hurts productivity, but it preserves social hierarchies. Related:'Boring' Bitcoin Market Sends Miners' Fee Earnings to 3-Month Low This is where the more benign hopes of transcending nation-states mix with the darker fantasies of so-called bitcoin maximalists. On the one hand, a meaningful alternative to national currencies could allow people in abusive regimes not to rely on their governments’ worthless “promises.” On the other hand, a mechanistically fixed supply of money could put an unequal social hierarchy beyond the reach of democratic power, as the gold standard once did. Read more:Trump’s Security Hawks Call Distributed Ledgers ‘Critical’ in US-China Tech Arms Race Bitcoin, in this respect, is very much like gold. And like gold, it poses no active threat to state currencies or state power. For the value of state currencies – as described above – is predicated upon the actual, practical power of states. Throughout modern history, the preeminent reserve currency has been the coin of the world’s preeminent military power. Only if states lose their status as the main global powers are their currencies likely to follow suit. Cryptocurrencies are only playing around the margins of this reality. Still, they can play an interesting role because they have features that prior non-state currencies did not. For example, they can facilitate coordination and communication between their holders. Imagine if all the holders of gold could, for example, vote on whether to mine more. Moreover, some cryptocurrencies have intrinsic value, such as ether (paying for the use of a distributed network), or HNS (paying for domain names on a decentralized registry). The ongoing improvements in global cooperation that happen in the bitcoin/crypto private sector derive from the many players that ensure a proof-of-work (PoW) system remains secure. The intricacies that go into the production of hashrate, such as power and chipmaker pricing negotiation, manufacturing, international sales and marketing, mining pools and hashpower secondary markets. All are playing a piece in hardening relationships locally and internationally. Therefore, a properly secured chain has then worked its way into regional regulations and labor, becoming a localized economic staple over time as it approaches scale. And, the second-order effects that come from that embedded chain of incentives include a public blockchain that is secure, not just technically but socially and politically. The most secure chains possessing such widespread economies of scale become powerful economic instruments of finance and political social progress (albeit slowly, but each new major public chain hastens this emergent process, thankfully). In essence, though these systems may at first seem adversarial to state power by their very design, if you look more closely you’ll see they inherently (slowly) improve diplomacy via scalable trustless cooperation and international business over time. To understand more on the “alchemy of PoW hashpower” and how it naturally derives incentives for international business cooperation, see thisongoing series from Anicca Research. The trustless systems we deploy globally have powerful consequences, and it’s important that we as an industry understand how to continually scale the positive aspects of decentralized monetary systems, without amplifying the negative effects such as centralized financial influence. States are not wrong to be somewhat threatened by these hard-to-assess possibilities. If many people decide they would rather hold cryptocurrencies than state-backed currencies, it will diminish states’ abilities to project power through their coins. Read more:The Crypto-Dollar Surge and the American Opportunity But states still have the armies, the police and – on a good day anyway – democratic legitimacy. All of that still matters, and will for a long time. • Cryptocurrency Is Just a Minor Threat to the State • Cryptocurrency Is Just a Minor Threat to the State \|\| Institutions Take Record Bullish Bets in Bitcoin Futures, Shrugging Off Exchange Missteps: Institutions recently raised their bullish bets in bitcoin (BTC) futures listed on the Chicago Mercantile Exchange (CME) to the record level set last month amid signs of market maturity. • In the week ended Oct. 13, institutional investors increased long positions by over 9%, taking the tally of bullish bets to therecord highof 3,500 contracts reached in mid-September. • The numbers were revealed by the Commitment of Traders (COT) report published by the U.S. Commodity Futures Trading Commission (CFTC) on Friday. • The cryptocurrency’s price reached multi-week highs above $11,700 during the seven days to Oct. 1, confirming a breakout on technical charts. • BTC’s recent resilience to several exchange-related issues may have given institutions the confidence to increase their bullish bets. • The cryptocurrency remained largely bid above $10,000 earlier this month despite news of theKuCoin exchange hackand U.S. regulatorsbringing criminal and civil chargesagainst BitMEX. • Similarly, buyers defended support at $11,200 on Friday after prominent crypto exchange OKExsuspended withdrawals. • ‘Had these events happened last year, the [bearish] impact on bitcoin’s price would have been much greater,” Sui Chung, CEO of CF Benchmarks, said in a statement to CoinDesk. • The derivatives market is now less dependent on exchanges like BitMEX and OKEx than a year ago. • In September 2019, the two exchanges accounted for over 70% of the global BTC derivatives’ open interest. That number has now dropped to 40%. • As such, the cryptocurrency is less sensitive to exchange-related issues. That’s a testament to the growing maturity of the cryptocurrency space, according to Chung. • Speculators or leveraged funds – hedge funds and various types of money managers that, in effect, borrow money to trade – increased their short positions by 4% to 14,100 – the record low seen in August. • That does not necessarily imply bearish implications for price. • According toPatrick Heusser, a senior cryptocurrency trader at Zurich-based Crypto Broker AG, cash and carry trading may have pushed bearish bets to record highs. • “Cash and carry” is an arbitrage strategy that involves buying the asset on the spot market and taking a sell position in the futures market when the latter is trading at a significant premium to the spot price. • Futures prices converge with spot prices on the day of the expiry, yielding arisk-free returnto a carry trader. Also read:Bitcoin Price Dips 3% on OKEx News, Analysts Aren’t Too Worried • Institutions Take Record Bullish Bets in Bitcoin Futures, Shrugging Off Exchange Missteps • Institutions Take Record Bullish Bets in Bitcoin Futures, Shrugging Off Exchange Missteps • Institutions Take Record Bullish Bets in Bitcoin Futures, Shrugging Off Exchange Missteps • Institutions Take Record Bullish Bets in Bitcoin Futures, Shrugging Off Exchange Missteps \|\| Institutions Take Record Bullish Bets in Bitcoin Futures, Shrugging Off Exchange Missteps: Institutions recently raised their bullish bets in bitcoin (BTC) futures listed on the Chicago Mercantile Exchange (CME) to the record level set last month amid signs of market maturity. In the week ended Oct. 13, institutional investors increased long positions by over 9%, taking the tally of bullish bets to the record high of 3,500 contracts reached in mid-September. The numbers were revealed by the Commitment of Traders (COT) report published by the U.S. Commodity Futures Trading Commission (CFTC) on Friday. The cryptocurrency’s price reached multi-week highs above $11,700 during the seven days to Oct. 1, confirming a breakout on technical charts. BTC’s recent resilience to several exchange-related issues may have given institutions the confidence to increase their bullish bets. The cryptocurrency remained largely bid above $10,000 earlier this month despite news of the KuCoin exchange hack and U.S. regulators bringing criminal and civil charges against BitMEX. Similarly, buyers defended support at $11,200 on Friday after prominent crypto exchange OKEx suspended withdrawals . ‘Had these events happened last year, the [bearish] impact on bitcoin’s price would have been much greater,” Sui Chung, CEO of CF Benchmarks, said in a statement to CoinDesk. The derivatives market is now less dependent on exchanges like BitMEX and OKEx than a year ago. In September 2019, the two exchanges accounted for over 70% of the global BTC derivatives’ open interest. That number has now dropped to 40%. As such, the cryptocurrency is less sensitive to exchange-related issues. That’s a testament to the growing maturity of the cryptocurrency space, according to Chung. Are speculators bearish? Speculators or leveraged funds – hedge funds and various types of money managers that, in effect, borrow money to trade – increased their short positions by 4% to 14,100 – the record low seen in August. That does not necessarily imply bearish implications for price. According to Patrick Heusser , a senior cryptocurrency trader at Zurich-based Crypto Broker AG, cash and carry trading may have pushed bearish bets to record highs. “Cash and carry” is an arbitrage strategy that involves buying the asset on the spot market and taking a sell position in the futures market when the latter is trading at a significant premium to the spot price. Futures prices converge with spot prices on the day of the expiry, yielding a risk-free return to a carry trader. Story continues Also read: Bitcoin Price Dips 3% on OKEx News, Analysts Aren’t Too Worried Related Stories Institutions Take Record Bullish Bets in Bitcoin Futures, Shrugging Off Exchange Missteps Institutions Take Record Bullish Bets in Bitcoin Futures, Shrugging Off Exchange Missteps Institutions Take Record Bullish Bets in Bitcoin Futures, Shrugging Off Exchange Missteps Institutions Take Record Bullish Bets in Bitcoin Futures, Shrugging Off Exchange Missteps \|\| Institutions Take Record Bullish Bets in Bitcoin Futures, Shrugging Off Exchange Missteps: Institutions recently raised their bullish bets in bitcoin (BTC) futures listed on the Chicago Mercantile Exchange (CME) to the record level set last month amid signs of market maturity. • In the week ended Oct. 13, institutional investors increased long positions by over 9%, taking the tally of bullish bets to therecord highof 3,500 contracts reached in mid-September. • The numbers were revealed by the Commitment of Traders (COT) report published by the U.S. Commodity Futures Trading Commission (CFTC) on Friday. • The cryptocurrency’s price reached multi-week highs above $11,700 during the seven days to Oct. 1, confirming a breakout on technical charts. • BTC’s recent resilience to several exchange-related issues may have given institutions the confidence to increase their bullish bets. • The cryptocurrency remained largely bid above $10,000 earlier this month despite news of theKuCoin exchange hackand U.S. regulatorsbringing criminal and civil chargesagainst BitMEX. • Similarly, buyers defended support at $11,200 on Friday after prominent crypto exchange OKExsuspended withdrawals. • ‘Had these events happened last year, the [bearish] impact on bitcoin’s price would have been much greater,” Sui Chung, CEO of CF Benchmarks, said in a statement to CoinDesk. • The derivatives market is now less dependent on exchanges like BitMEX and OKEx than a year ago. • In September 2019, the two exchanges accounted for over 70% of the global BTC derivatives’ open interest. That number has now dropped to 40%. • As such, the cryptocurrency is less sensitive to exchange-related issues. That’s a testament to the growing maturity of the cryptocurrency space, according to Chung. • Speculators or leveraged funds – hedge funds and various types of money managers that, in effect, borrow money to trade – increased their short positions by 4% to 14,100 – the record low seen in August. • That does not necessarily imply bearish implications for price. • According toPatrick Heusser, a senior cryptocurrency trader at Zurich-based Crypto Broker AG, cash and carry trading may have pushed bearish bets to record highs. • “Cash and carry” is an arbitrage strategy that involves buying the asset on the spot market and taking a sell position in the futures market when the latter is trading at a significant premium to the spot price. • Futures prices converge with spot prices on the day of the expiry, yielding arisk-free returnto a carry trader. Also read:Bitcoin Price Dips 3% on OKEx News, Analysts Aren’t Too Worried • Institutions Take Record Bullish Bets in Bitcoin Futures, Shrugging Off Exchange Missteps • Institutions Take Record Bullish Bets in Bitcoin Futures, Shrugging Off Exchange Missteps • Institutions Take Record Bullish Bets in Bitcoin Futures, Shrugging Off Exchange Missteps • Institutions Take Record Bullish Bets in Bitcoin Futures, Shrugging Off Exchange Missteps \|\| The Crypto Daily – Movers and Shakers – October 17th, 2020: Bitcoin, BTC to USD, fell by 1.62% on Friday. Reversing a 0.60% gain from Thursday, Bitcoin ended the day at $11,325.0. It was a mixed start to the day. Bitcoin rose to an early morning intraday high $11,547.0 before hitting reverse. Falling short of the first major resistance level at $11,668, Bitcoin fell to an early morning intraday low $11,212.0. The morning pullback saw Bitcoin fall through the first major support level at $11,313. Finding support in the late morning, Bitcoin briefly revisited $11,400 levels before falling back through the first major support level. A late move back through to $11,320 levels reduced the deficit on the day. The late move also saw Bitcoin break back through the first major support level at $11,313. The near-term bullish trend remained intact, supported by the latest move back through to $11,000 levels. For the bears, Bitcoin would need to slide through the 62% FIB of $6,400 to form a near-term bearish trend. Across the rest of the majors, it was a bearish day on Friday. Binance Coin (-4.18%), Bitcoin Cash ABC (-5.22%), and Bitcoin Cash SV (-5.16%) led the way down. Cardano’s ADA (-2.25%), Ethereum (-3.26%), Litecoin (-3.87%), Polkadot (-2.81%), and Ripple’s XRP (-2.31%) also struggled. Chainlink (-1.57%) and Crypto.com Coin (-1.94%) saw relatively modest losses on the day. In the current week, the crypto total market rose to a Monday high $365.23bn before falling to a Friday low $343.10. At the time of writing, the total market cap stood at $347.00bn. Bitcoin’s dominance fell to a Monday low 59.47% before rising to a Friday high 60.45%. At the time of writing, Bitcoin’s dominance stood at 60.28%. At the time of writing, Bitcoin was down by 0.25% to $11,297.0. A mixed start to the day saw Bitcoin rise to an early morning high $11,334.0 before falling to a low $11,290.0. Bitcoin left the major support and resistance levels untested early on. Elsewhere, it was a bearish start to the day for the crypto majors. At the time of writing, Bitcoin Cash SV was down by 1.68% to lead the way down. Bitcoin would need to move through the pivot level at $11,361 to bring the first major resistance level at $11,511 into play. Support from the broader market would be needed, however, for Bitcoin to break back through to $11,500 levels. Barring an extended crypto rally, the first major resistance level and Friday’s high $11,547.0 would likely cap any upside. In the event of another crypto breakout, Bitcoin could test resistance at $11,600 before any pullback. The second major resistance level sits at $11,696. Failure to move through the $11,361 pivot would bring the first major support level at $11,176 into play. Barring an extended crypto sell-off, Bitcoin should steer clear of the second major support level at $11,026. Thisarticlewas originally posted on FX Empire • Silver Price Forecast – Silver Markets Have Gone Back and Forth • USD/JPY Weekly Price Forecast – Conflicting Candlesticks Show Consolidation • Gold Price Prediction – Prices Consolidate Despite Robust Retail Sales • Oil Is Set To Finish The Week Above The Key $40 Level • S&P 500 Weekly Price Forecast – Stock Markets Show Signs of Exhaustion • Gold Price Forecast – Gold Continues to Dance Around 50 Day EMA \|\| The Crypto Daily – Movers and Shakers – October 17th, 2020: Bitcoin, BTC to USD, fell by 1.62% on Friday. Reversing a 0.60% gain from Thursday, Bitcoin ended the day at $11,325.0. It was a mixed start to the day. Bitcoin rose to an early morning intraday high $11,547.0 before hitting reverse. Falling short of the first major resistance level at $11,668, Bitcoin fell to an early morning intraday low $11,212.0. The morning pullback saw Bitcoin fall through the first major support level at $11,313. Finding support in the late morning, Bitcoin briefly revisited $11,400 levels before falling back through the first major support level. A late move back through to $11,320 levels reduced the deficit on the day. The late move also saw Bitcoin break back through the first major support level at $11,313. The near-term bullish trend remained intact, supported by the latest move back through to $11,000 levels. For the bears, Bitcoin would need to slide through the 62% FIB of $6,400 to form a near-term bearish trend. The Rest of the Pack Across the rest of the majors, it was a bearish day on Friday. Binance Coin (-4.18%), Bitcoin Cash ABC (-5.22%), and Bitcoin Cash SV (-5.16%) led the way down. Cardano’s ADA (-2.25%), Ethereum (-3.26%), Litecoin (-3.87%), Polkadot (-2.81%), and Ripple’s XRP (-2.31%) also struggled. Chainlink (-1.57%) and Crypto.com Coin (-1.94%) saw relatively modest losses on the day. In the current week, the crypto total market rose to a Monday high $365.23bn before falling to a Friday low $343.10. At the time of writing, the total market cap stood at $347.00bn. Bitcoin’s dominance fell to a Monday low 59.47% before rising to a Friday high 60.45%. At the time of writing, Bitcoin’s dominance stood at 60.28%. This Morning At the time of writing, Bitcoin was down by 0.25% to $11,297.0. A mixed start to the day saw Bitcoin rise to an early morning high $11,334.0 before falling to a low $11,290.0. Bitcoin left the major support and resistance levels untested early on. Story continues Elsewhere, it was a bearish start to the day for the crypto majors. At the time of writing, Bitcoin Cash SV was down by 1.68% to lead the way down. For the Bitcoin Day Ahead Bitcoin would need to move through the pivot level at $11,361 to bring the first major resistance level at $11,511 into play. Support from the broader market would be needed, however, for Bitcoin to break back through to $11,500 levels. Barring an extended crypto rally, the first major resistance level and Friday’s high $11,547.0 would likely cap any upside. In the event of another crypto breakout, Bitcoin could test resistance at $11,600 before any pullback. The second major resistance level sits at $11,696. Failure to move through the $11,361 pivot would bring the first major support level at $11,176 into play. Barring an extended crypto sell-off, Bitcoin should steer clear of the second major support level at $11,026. This article was originally posted on FX Empire More From FXEMPIRE: Silver Price Forecast – Silver Markets Have Gone Back and Forth USD/JPY Weekly Price Forecast – Conflicting Candlesticks Show Consolidation Gold Price Prediction – Prices Consolidate Despite Robust Retail Sales Oil Is Set To Finish The Week Above The Key $40 Level S&P 500 Weekly Price Forecast – Stock Markets Show Signs of Exhaustion Gold Price Forecast – Gold Continues to Dance Around 50 Day EMA \|\| At $550, Nvidia Is Just Way Too Costly to Justify: It has been a fantastic year for big capitalization tech stocks. And even among that distinguished group,Nvidia’s(NASDAQ:NVDA) results have been noteworthy. NVDA stock is 182% over the past year, and 97% over the past six months. Source: Antonio Baccardi / Shutterstock.com However, after a scorching run in recent years, it’s hard to see how the party can continue. Even with Nvidia doing everything right on a corporate level, the stock has simply gotten too far ahead of the underlying business. It’s important to remember that a stock and a company are two distinct things. Regardless of how great the company is right now, NVDA stock has become a gamble due to its lofty valuation. InvestorPlace - Stock Market News, Stock Advice & Trading Tips Yes, I realize there’s excitement around a potential deal to acquire Arm Holdings, a leading semiconductor design firm. But even that wouldn’t change Nvidia’s outlook materially in the near-term. Here’s why. The issue with the potential Arm acquisition deal is this: it’s just notbig enough. • 7 Value Stocks To Buy in an Overvalued Market That may sound weird. After all, Nvidia isoffering $40 billion for Arm. But, put it in context. Nvidia now has a market capitalization of almost $350 billion. A $40 billion deal — while impressive — is only a fraction of NVDA’s current valuation. And Arm is not without its risks, either. A clear leader within its industry, Arm’s focus on artificial intelligence is promising. It’s a natural fit with Nvidia’s own priorities, and the company could undoubtedly jump-start Arm’s business. But Arm has also been struggling in recent years.Softbank(OTCMKTS:SFTBY) purchased Arm for a little under$32 billion back in 2016. Since then, it has floundered. The company has failed to turn its technical achievements into commercial success. While Arm could be an incremental benefit, a floundering asset of this size won’t significantly change Nvidia’s fortunes. Simply put, there are limits to growth. And NVDA stock is about to hit some of them — at least in the short run. The company already became one of the world’slargest semiconductor firmsearlier this year. From that high vantage point, it’s worth asking just how much farther the stock can realistically go. Nvidia has returned to earnings and revenue growth this year. But it’s also worth remembering that Nvidia’s revenues for fiscal year ’20 (which ended early this year)dropped 7%and GAAP (generally accepted accounting principles) earnings per diluted share dropped 32%. Fiscal year 2021 will see a solid pick-up, with earnings of $9 per share, according to analyst estimates. However, growth will be moderate going forward, with a forecast in the 20% range for the next five years. And that simply isn’t impressive enough for a stock that is already over $550. It’s one thing to grow exponentially when you’re a small company. But when you’re already the king of your sector, it gets harder to justify an inflated valuation. Even with Nvidia’s incredible run over the past five years, it’s important not to forget the painful corrections along the way. Withthe Bitcoin crash in 2018, Nvidia’s graphic card sales slowed when the demand for cryptomining units slid. That loss of momentum came unexpectedly, and resulted in a crushing blow. In a three-month period in late 2018, NVDA stock lost more than half its value from peak to trough. It took the company until early 2020 to reclaim the ground in lost in that frantic three-month sell-off. I bring this up because it’s important to remember that — despite Nvidia operational success — it’s earnings are not impenetrable to hiccups. This always happens with growth companies, sooner or later. And when you’re selling at 52 times forward earnings, and the stock price has more than doubled over the past 12 months, you’re not giving yourself much room for error. In Nvidia’s case, the stock was trading at $250 at the start of 2020. Now it’s at over $550. Would it be a shock if Nvidia’s shares fell back to $400? That’d still be a huge gain for the year. But for anyone buying shares today, it’d be a massive setback. Nvidia is having a tremendous run, both in its stock price and its business fundamentals. However, the former has far outstripped the latter. Since 2016, Nvidia’s revenues are up a little more than 100%, operating profit has tripled, and earnings are up five-fold. That’s all incredible stuff. However, NVDA stock is up about 1,700% over the same stretch. That’s simply way ahead of the company’s growth. Nvidia’s market cap has now swollen so much that even a $40 billion acquisition hardly moves the needle. If you are a long-term investor that intends to hold onto Nvidia forever, that’s one thing. But for traders, you’ll almost certainly see much lower NVDA prices over the next year or two. On the date of publication, Ian Bezek did not have (either directly or indirectly) any positions in the securities mentioned in this article. Ian Bezek has written more than 1,000 articles for InvestorPlace.com and Seeking Alpha. He also worked as a Junior Analyst for Kerrisdale Capital, a $300 million New York City-based hedge fund. You can reach him on Twitter at @irbezek. • Forget The Election… Pick These Stocks for the Win in 2021 • Why Everyone Is Investing in 5G All WRONG • America’s #1 Stock Picker Reveals His Next 1,000% Winner • Revolutionary Tech Behind 5G Rollout Is Being Pioneered By This 1 Company The postAt $550, Nvidia Is Just Way Too Costly to Justifyappeared first onInvestorPlace. \|\| Market Wrap: Bitcoin Has Light Response to OKEx While Ether Options Traders Make Beacon Bets: Bitcoin rebounded from an OKEx-related drop; ether options traders may be beacon chain bearish. Bitcoin (BTC) trading around $11,327 as of 20:00 UTC (4 p.m. ET). Slipping 2% over the previous 24 hours. Bitcoin’s 24-hour range: $11,199-$11,623 BTC below its 10-day moving average but above the 50-day, a sideways signal for market technicians. Bitcoin’s price moved as high as $11,623 late Thursday/early Friday but trades at that height were short-lived. Spot traders punched the sell button around 04:00 UTC (12:00 a.m ET) on the news that Malta-based exchange OKEx suspended withdrawals due to an investigation of a key operations person . Bitcoin fell as low as $11,199 on spot exchanges such as Bitstamp before rebounding a bit, up to $11,327 at press time. Read More: Bitcoin Price Dips 3% on OKEx News, Analysts Aren’t Too Worried Related: 'Boring' Bitcoin Market Sends Miners' Fee Earnings to 3-Month Low Market analysts seem unfazed, saying OKEx’s situation will hardly affect crypto’s long-term fundamentals. Nonetheless, the circumstances seem a bit curious, according to George Clayton, managing partner of investment firm Cryptanalysis Capital. “Kind of weird that a major exchange can be incapacitated by one guy,” Clayton told CoinDesk. “One would have thought that there would be contingency plans in place with that much at stake.” William Purdy, an options trader and founder of analysis firm PurdyAlerts, noted the resilience of the market in the face of negative sentiment. “If this news occured in 2018, the market would have dropped 10%-15%,” he told CoinDesk. “However, now it is supported by the larger equity investors and traditional markets.” Indeed, despite the drop, the price per one bitcoin is still hovering around the $11,400-$11,500 range it has been in since Oct. 9. Related: Stellar CEO to Be Part of IMF Panel on Cross-Border Payments Yet, in the bitcoin options market, traders appear to be preparing for further fallout. Open interest in bitcoin options keeps trending upward, according to Purdy. Story continues Specifically, Purdy sees a trend with an increase in the put/call ratio on bitcoin options. “ High put/call here is bearish positioning by options traders who expect further downside,” he said. These two trends combined reflect the possibility of big market movements in the near-term by options traders. “Bitcoin options open interest keeps climbing as the put-to-call ratio is seen increasing,” said Purdy. “Given the continuous increase in open interest, we will see a large liquidation move in the coming weeks.” Lots of ether options expiring in December The second-largest cryptocurrency by market capitalization, ether (ETH), was down Friday trading around $366 and slipping 3.1% in 24 hours as of 20:00 UTC (4:00 p.m. ET). Read More: Will a Sharded Ethereum Be Flexible Enough for Decentralized Finance? Ether traders are loading up on options for a Dec. 25 expiration. As of press time, 439,813 ETH, worth $161,851,184 at current prices, are set to expire on Deribit, the largest options venue in the market. Greg Magadini, co-founder and CEO of data aggregator Genesis Volatility, said the large number of options, mostly positioned short, for December expiration has to do with Ethereum’s plan to upgrade its network. Ethereum 2.0’s initiation will begin with the “beacon chain” where investors will stake ether to help jump-start the network. A date has not yet been set for the beacon chain launch but is expected in 2020. “Ether options remain concentrated in December expiration,” Magadini told CoinDesk. ”Traders are net short in December far out of the money calls. This is most likely related to beacon chain launch positioning.” Other markets Digital assets on the CoinDesk 20 are mostly red Friday. Notable winners as of 20:00 UTC (4:00 p.m. ET): stellar (XLM) + 2.4% 0x (ZRX) + 1.6% chainlink (LINK) + 0.35% Notable losers as of 20:00 UTC (4:00 p.m. ET): monero (XMR) – 8.6% zcash (ZEC) – 7.4% bitcoin sv (BSV) – 5.2% Read More: Reginald Fowler May Reopen Plea Talks in Crypto Capital Case Equities: The Nikkei 225 in Asia closed in the red 0.41% as investors signal concerns about the rising number of coronavirus cases globally . The FTSE 100 ended the day climbing 1.5% as U.K. Prime Minister Boris Johnson signaled a potential no-deal with the European Union on Brexit . In the United States the S&P 500 gained 0.20%, boosted by positive September retail sales data released by the Commerce Department . Commodities: Oil was down 0.18%. Price per barrel of West Texas Intermediate crude: $40.73. Gold was in the red 0.46% and at $1,899 as of press time. Treasurys: U.S. Treasury bond yields all climbed Friday. Yields, which move in the opposite direction as price, were up most on the 10-year, jumping to 0.741 and in the green 0.91%. Related Stories Market Wrap: Bitcoin Has Light Response to OKEx While Ether Options Traders Make Beacon Bets Market Wrap: Bitcoin Has Light Response to OKEx While Ether Options Traders Make Beacon Bets \|\| Market Wrap: Bitcoin Has Light Response to OKEx While Ether Options Traders Make Beacon Bets: Bitcoin rebounded from an OKEx-related drop; ether options traders may be beacon chain bearish. Bitcoin (BTC) trading around $11,327 as of 20:00 UTC (4 p.m. ET). Slipping 2% over the previous 24 hours. Bitcoin’s 24-hour range: $11,199-$11,623 BTC below its 10-day moving average but above the 50-day, a sideways signal for market technicians. Bitcoin’s price moved as high as $11,623 late Thursday/early Friday but trades at that height were short-lived. Spot traders punched the sell button around 04:00 UTC (12:00 a.m ET) on the news that Malta-based exchange OKEx suspended withdrawals due to an investigation of a key operations person . Bitcoin fell as low as $11,199 on spot exchanges such as Bitstamp before rebounding a bit, up to $11,327 at press time. Read More: Bitcoin Price Dips 3% on OKEx News, Analysts Aren’t Too Worried Related: 'Boring' Bitcoin Market Sends Miners' Fee Earnings to 3-Month Low Market analysts seem unfazed, saying OKEx’s situation will hardly affect crypto’s long-term fundamentals. Nonetheless, the circumstances seem a bit curious, according to George Clayton, managing partner of investment firm Cryptanalysis Capital. “Kind of weird that a major exchange can be incapacitated by one guy,” Clayton told CoinDesk. “One would have thought that there would be contingency plans in place with that much at stake.” William Purdy, an options trader and founder of analysis firm PurdyAlerts, noted the resilience of the market in the face of negative sentiment. “If this news occured in 2018, the market would have dropped 10%-15%,” he told CoinDesk. “However, now it is supported by the larger equity investors and traditional markets.” Indeed, despite the drop, the price per one bitcoin is still hovering around the $11,400-$11,500 range it has been in since Oct. 9. Related: Stellar CEO to Be Part of IMF Panel on Cross-Border Payments Yet, in the bitcoin options market, traders appear to be preparing for further fallout. Open interest in bitcoin options keeps trending upward, according to Purdy. Story continues Specifically, Purdy sees a trend with an increase in the put/call ratio on bitcoin options. “ High put/call here is bearish positioning by options traders who expect further downside,” he said. These two trends combined reflect the possibility of big market movements in the near-term by options traders. “Bitcoin options open interest keeps climbing as the put-to-call ratio is seen increasing,” said Purdy. “Given the continuous increase in open interest, we will see a large liquidation move in the coming weeks.” Lots of ether options expiring in December The second-largest cryptocurrency by market capitalization, ether (ETH), was down Friday trading around $366 and slipping 3.1% in 24 hours as of 20:00 UTC (4:00 p.m. ET). Read More: Will a Sharded Ethereum Be Flexible Enough for Decentralized Finance? Ether traders are loading up on options for a Dec. 25 expiration. As of press time, 439,813 ETH, worth $161,851,184 at current prices, are set to expire on Deribit, the largest options venue in the market. Greg Magadini, co-founder and CEO of data aggregator Genesis Volatility, said the large number of options, mostly positioned short, for December expiration has to do with Ethereum’s plan to upgrade its network. Ethereum 2.0’s initiation will begin with the “beacon chain” where investors will stake ether to help jump-start the network. A date has not yet been set for the beacon chain launch but is expected in 2020. “Ether options remain concentrated in December expiration,” Magadini told CoinDesk. ”Traders are net short in December far out of the money calls. This is most likely related to beacon chain launch positioning.” Other markets Digital assets on the CoinDesk 20 are mostly red Friday. Notable winners as of 20:00 UTC (4:00 p.m. ET): stellar (XLM) + 2.4% 0x (ZRX) + 1.6% chainlink (LINK) + 0.35% Notable losers as of 20:00 UTC (4:00 p.m. ET): monero (XMR) – 8.6% zcash (ZEC) – 7.4% bitcoin sv (BSV) – 5.2% Read More: Reginald Fowler May Reopen Plea Talks in Crypto Capital Case Equities: The Nikkei 225 in Asia closed in the red 0.41% as investors signal concerns about the rising number of coronavirus cases globally . The FTSE 100 ended the day climbing 1.5% as U.K. Prime Minister Boris Johnson signaled a potential no-deal with the European Union on Brexit . In the United States the S&P 500 gained 0.20%, boosted by positive September retail sales data released by the Commerce Department . Commodities: Oil was down 0.18%. Price per barrel of West Texas Intermediate crude: $40.73. Gold was in the red 0.46% and at $1,899 as of press time. Treasurys: U.S. Treasury bond yields all climbed Friday. Yields, which move in the opposite direction as price, were up most on the 10-year, jumping to 0.741 and in the green 0.91%. Related Stories Market Wrap: Bitcoin Has Light Response to OKEx While Ether Options Traders Make Beacon Bets Market Wrap: Bitcoin Has Light Response to OKEx While Ether Options Traders Make Beacon Bets \|\| Market Wrap: Bitcoin Has Light Response to OKEx While Ether Options Traders Make Beacon Bets: Bitcoin rebounded from an OKEx-related drop; ether options traders may be beacon chain bearish. Bitcoin (BTC) trading around $11,327 as of 20:00 UTC (4 p.m. ET). Slipping 2% over the previous 24 hours. Bitcoin’s 24-hour range: $11,199-$11,623 BTC below its 10-day moving average but above the 50-day, a sideways signal for market technicians. Bitcoin’s price moved as high as $11,623 late Thursday/early Friday but trades at that height were short-lived. Spot traders punched the sell button around 04:00 UTC (12:00 a.m ET) on the news that Malta-based exchange OKEx suspended withdrawals due to an investigation of a key operations person . Bitcoin fell as low as $11,199 on spot exchanges such as Bitstamp before rebounding a bit, up to $11,327 at press time. Read More: Bitcoin Price Dips 3% on OKEx News, Analysts Aren’t Too Worried Related: 'Boring' Bitcoin Market Sends Miners' Fee Earnings to 3-Month Low Market analysts seem unfazed, saying OKEx’s situation will hardly affect crypto’s long-term fundamentals. Nonetheless, the circumstances seem a bit curious, according to George Clayton, managing partner of investment firm Cryptanalysis Capital. “Kind of weird that a major exchange can be incapacitated by one guy,” Clayton told CoinDesk. “One would have thought that there would be contingency plans in place with that much at stake.” William Purdy, an options trader and founder of analysis firm PurdyAlerts, noted the resilience of the market in the face of negative sentiment. “If this news occured in 2018, the market would have dropped 10%-15%,” he told CoinDesk. “However, now it is supported by the larger equity investors and traditional markets.” Indeed, despite the drop, the price per one bitcoin is still hovering around the $11,400-$11,500 range it has been in since Oct. 9. Related: Stellar CEO to Be Part of IMF Panel on Cross-Border Payments Yet, in the bitcoin options market, traders appear to be preparing for further fallout. Open interest in bitcoin options keeps trending upward, according to Purdy. Story continues Specifically, Purdy sees a trend with an increase in the put/call ratio on bitcoin options. “ High put/call here is bearish positioning by options traders who expect further downside,” he said. These two trends combined reflect the possibility of big market movements in the near-term by options traders. “Bitcoin options open interest keeps climbing as the put-to-call ratio is seen increasing,” said Purdy. “Given the continuous increase in open interest, we will see a large liquidation move in the coming weeks.” Lots of ether options expiring in December The second-largest cryptocurrency by market capitalization, ether (ETH), was down Friday trading around $366 and slipping 3.1% in 24 hours as of 20:00 UTC (4:00 p.m. ET). Read More: Will a Sharded Ethereum Be Flexible Enough for Decentralized Finance? Ether traders are loading up on options for a Dec. 25 expiration. As of press time, 439,813 ETH, worth $161,851,184 at current prices, are set to expire on Deribit, the largest options venue in the market. Greg Magadini, co-founder and CEO of data aggregator Genesis Volatility, said the large number of options, mostly positioned short, for December expiration has to do with Ethereum’s plan to upgrade its network. Ethereum 2.0’s initiation will begin with the “beacon chain” where investors will stake ether to help jump-start the network. A date has not yet been set for the beacon chain launch but is expected in 2020. “Ether options remain concentrated in December expiration,” Magadini told CoinDesk. ”Traders are net short in December far out of the money calls. This is most likely related to beacon chain launch positioning.” Other markets Digital assets on the CoinDesk 20 are mostly red Friday. Notable winners as of 20:00 UTC (4:00 p.m. ET): stellar (XLM) + 2.4% 0x (ZRX) + 1.6% chainlink (LINK) + 0.35% Notable losers as of 20:00 UTC (4:00 p.m. ET): monero (XMR) – 8.6% zcash (ZEC) – 7.4% bitcoin sv (BSV) – 5.2% Read More: Reginald Fowler May Reopen Plea Talks in Crypto Capital Case Equities: The Nikkei 225 in Asia closed in the red 0.41% as investors signal concerns about the rising number of coronavirus cases globally . The FTSE 100 ended the day climbing 1.5% as U.K. Prime Minister Boris Johnson signaled a potential no-deal with the European Union on Brexit . In the United States the S&P 500 gained 0.20%, boosted by positive September retail sales data released by the Commerce Department . Commodities: Oil was down 0.18%. Price per barrel of West Texas Intermediate crude: $40.73. Gold was in the red 0.46% and at $1,899 as of press time. Treasurys: U.S. Treasury bond yields all climbed Friday. Yields, which move in the opposite direction as price, were up most on the 10-year, jumping to 0.741 and in the green 0.91%. Related Stories Market Wrap: Bitcoin Has Light Response to OKEx While Ether Options Traders Make Beacon Bets Market Wrap: Bitcoin Has Light Response to OKEx While Ether Options Traders Make Beacon Bets \|\| ALT 5 Sigma Digital Instrument Market Summary for BTC, ETH, LTC, BCH: NEW YORK, NY / ACCESSWIRE / October 16, 2020 /ALT 5 Sigma Inc. an emerging leader in blockchain powered financial platforms provides its daily digital instruments market summary for Bitcoin (BTC/USD), Ether (ETH/USD), Litecoin (LTC/USD). Real-Time Market Data is available atwww.alt5pro.comand Real-Time Market Data feed is also available atwww.alt5sigma.com ALT 5 Sigma Digital Instrument Market Summary for BTC, ETH, LTC, BCH About ALT 5 Sigma Inc. ALT 5 is a fintech company specializing in the development and deployment of digital assets trading and exchange platforms. Alt 5 was founded by financial industry specialists out of the necessity to provide the digital asset economy with security, accessibility, transparency and compliance. ALT 5 provides its clients the ability to buy, sell and hold digital assets in a safe and secure environment deployed with the best practices of the financial industry. ALT 5's products and services are available to Banks, Broker Dealers, Funds, Family Offices, Professional Traders, Retail Traders, Digital Asset Exchanges, Digital Asset Brokers, Blockchain Developers, and Financial Information Providers. ALT 5's digital asset custodian services are secured by GardaWorld. GardaWorld is the world's largest privately-owned business solutions and security services company, offering cash management services. For more information, visitwww.alt5sigma.com. Contact: Andre BeauchesneTel. [email protected] For more information on ALT 5 Pay, visitwww.alt5pay.comFor more information on ALT 5 Pro, visitwww.alt5pro.com SOURCE:ALT 5 Sigma Inc. View source version on accesswire.com:https://www.accesswire.com/610858/ALT-5-Sigma-Digital-Instrument-Market-Summary-for-BTC-ETH-LTC-BCH [Social Media Buzz] None available.	11742.04, 11916.33, 12823.69, 12965.89, 12931.54, 13108.06, 13031.17, 13075.25, 13654.22, 13271.29
Given the historical Bitcoin prices from the last 90 days, predict the next 10 daily closing prices. The historical prices are: 5238.44, 6191.19, 6198.78, 6185.07, 5830.25, 6416.31, 6734.80, 6681.06, 6716.44, 6469.80, 6242.19, 5922.04, 6429.84, 6438.64, 6606.78, 6793.62, 6733.39, 6867.53, 6791.13, 7271.78, 7176.41, 7334.10, 7302.09, 6865.49, 6859.08, 6971.09, 6845.04, 6842.43, 6642.11, 7116.80, 7096.18, 7257.67, 7189.42, 6881.96, 6880.32, 7117.21, 7429.72, 7550.90, 7569.94, 7679.87, 7795.60, 7807.06, 8801.04, 8658.55, 8864.77, 8988.60, 8897.47, 8912.65, 9003.07, 9268.76, 9951.52, 9842.67, 9593.90, 8756.43, 8601.80, 8804.48, 9269.99, 9733.72, 9328.20, 9377.01, 9670.74, 9726.58, 9729.04, 9522.98, 9081.76, 9182.58, 9209.29, 8790.37, 8906.93, 8835.05, 9181.02, 9525.75, 9439.12, 9700.41, 9461.06, 10167.27, 9529.80, 9656.72, 9800.64, 9665.53, 9653.68, 9758.85, 9771.49, 9795.70, 9870.09, 9321.78, 9480.84, 9475.28, 9386.79, 9450.70.	[Bitcoin Technical Analysis for 2020-06-15] Volume: 26699704768, RSI (14-day): 50.11, 50-day EMA: 9134.77, 200-day EMA: 8462.78 [Wider Market Context] Gold Price: 1720.30, Gold RSI: 51.51 Oil Price: 37.12, Oil RSI: 59.22 [Recent News (last 7 days)] Crypto Long & Short: Cryptocurrency Markets May Be Decentralized but They’re Still Accountable: One underappreciated feature of crypto markets is the lack of centralization. I mean, people know crypto assets are decentralized and trade on exchanges all over the world. But what’s often overlooked is the relative ease with which people can change the venues they buy and sell their holdings on. If, for instance, Jeff Sprecher (chairman of the New York Stock Exchange) says something that upsets you, you couldn’t exactly stop trading on the NYSE without liquidating a good percentage of your portfolio because for many stocks it is the only trading venue. However, if a crypto exchange does something you fundamentally disagree with, you can trade your crypto assets elsewhere. There is no shortage of options. You’re reading Crypto Long & Short , a newsletter that looks closely at the forces driving cryptocurrency markets. Authored by CoinDesk’s head of research, Noelle Acheson, it goes out every Sunday and offers a recap of the week – with insights and analysis – from a professional investor’s point of view. You can subscribe here . Coinbase earlier this week revealed that it has initiated procurement deals with a number of U.S. agencies, including the Drug Enforcement Administration (DEA) and the Internal Revenue Service (IRS), for a tool called “Coinbase Analytics.” The firm insists that the tool will not draw on customer information – but crypto folks are not, in general, a trusting lot. According to data from blockchain analytics firm Glassnode, bitcoin held on Coinbase has plummeted. Now, Coinbase uses a different address-reuse policy than most exchanges, so this might be the exchange moving coins from one address to another that has not yet been labeled. Or, it could be one very large holder moving his or her bitcoins to another wallet, either on or off Coinbase. Related: Crypto Long & Short: Cryptocurrency Markets May Be Decentralized but They’re Still Accountable Story continues While we can’t yet draw firm conclusions, there are two intriguing takeaways from this speculation: 1) Crypto asset movements are trackable. We usually don’t know who is sending or receiving, but we can see the movements happen, and large exchange addresses are usually known – some services automatically send alerts when a significant shift happens between exchanges and either users or other exchanges. Imagine being able to track movements of stock or bond holdings. 2) Crypto exchanges can easily lose business if users feel certain values are not being upheld. Many crypto investors have strong feelings about privacy and government collusion, and, judging from Twitter comments, many are moving their business elsewhere. In the non-crypto world, we have often seen businesses suffering the consequences of actions – but not significant market infrastructure players. They often have a quasi-monopoly over certain parts of capital markets. On the other hand, they are heavily regulated, so their leeway to anger customers is limited. Crypto market infrastructure participants are not so constrained. They are, however, subject to public scrutiny, by a cohort with a megaphone, that cares deeply about certain issues and business practices. In early 2019, Coinbase bought cybersecurity firm Neutrino, which had close links to a team that had helped authoritarian governments spy on their citizens. The resulting public outcry and the #DeleteCoinbase campaign that got started on Twitter was enough for Coinbase to backpedal and fire Neutrino’s founders. This puts a new twist on the notion of businesses being accountable to their users. It highlights the role that trust plays in markets. In traditional markets, that trust is enforced by regulations. However, regulations are enacted by governments, which in these tumultuous times are losing trust across the board, according to the latest Edelman Trust Barometer (not that we needed a study to tell us that). Here we have an emergent capital market that does not need oversight to enforce good market behavior. The crypto market itself seems to be doing a pretty good job of that. This raises questions about the value of transparency, the power of choice and the connection with community. And I’d be very surprised if traditional capital markets players weren’t watching all this with interest. Out of my way Fidelity Digital Assets, the crypto asset arm of financial giant Fidelity Investments, released a survey of over 770 institutional investors in the U.S. and Europe, which revealed that 36% own cryptocurrencies or related derivatives. Last year, Fidelity Digital Assets surveyed 441 institutions in the U.S., 22% of which had invested crypto assets at the time. Beyond those headline figures, which show encouraging growth, there are some significant takeaways from the result. The data I find especially intriguing are the barriers to investment, the main concerns that hold institutional investors back from investing in crypto assets. The highest-ranking worry is price volatility, which bothered over half of the respondents. Yet, compared to the 2019 survey, the worry quotient fell by 13 points, more than any other factor. Good news perhaps? But take a look at the dates during which the survey was carried out: November 2019 – March 2020. Here’s the volatility chart for BTC for the 18 months leading up to the end of the survey period: But we all know what happened in March – prices in almost everything crashed, and bitcoin’s volatility shot up. Does this mean that volatility has now become more of a barrier than during the survey period? Perhaps, but volatility has shot up in more traditional markets, too: Moving on to the other main concerns – the lack of market surveillance (47% of respondents see this as a barrier) and the lack of valuation fundamentals (45%) – we see two very encouraging developments. Market surveillance is less of a worry now than it was a year ago – the proportion of respondents citing this as a barrier dropped 6 points, pushing it to below half. This is likely to continue to trend lower, as both startups and incumbents are constantly fine-tuning the technology used to flag bad actors. And as for the understandable bewilderment as to how to value crypto assets when they have no solid backing and no cash flows, the shift there is especially exciting, and one that I expect to see significantly accelerate over the next 12 months. Crypto data platforms are improving their depth and breadth at an astonishing rate, and many new ones are springing up. And CoinDesk Research is currently working on a series of projects aimed at putting more crypto asset data in front of our users, as well as explaining this data in more detail. (Stay tuned.) But even more important, the survey result indicates a significant mindset shift. The supposed non-existence of crypto fundamentals has not changed. The assets still have the same properties as a year ago. What has changed is that a greater number of investors are accepting that they can’t view crypto assets through the same lens as more traditional holdings. They can’t expect to be able to value them in the same way. More are coming around to the idea that crypto assets require a new framework of understanding, based on new types of data and new value drivers. It’s a significant step towards more demand for education and deeper interest in the data. And where one group of open-minded innovative thinkers go, others will follow, if only to not miss out on potential returns. These are the necessary precursors to a broader acceptance of this asset class. Next year’s survey should be even more interesting. Anyone know what’s going on yet? While it’s never good to see value lost, the end-of-week rout feels like a breather in the oppressive rise of stocks in the face of dire economic outlook that had not been priced in. Strong swings are commonplace these days, however, so by the time you read this, the confidence in the perpetual bailout could have overcome frightened animal spirits. Or not. The alarming 20% drop in U.K. GDP month-on-month in April was a tragic accent to renewed Brexit tensions. And contagion rebounds in the face of much-welcome lockdown easing are a blow to fragile spirits, no matter how expected they were. As I write this on Friday morning, U.S. and European stocks are resting from their worst one-day falls since March, and signs point to markets opening further down. This seems like a sadly fitting end to a week that began with mainstream financial media using words like “fervid” in headlines. And, if indeed markets continue down, it will be oddly comforting to professional investors around the world to see confirmation of the adage that the top is called by retail investors pouring in. Even after the fall, the S&P 500 is still higher than at the end of February, when the economic outlook was not nearly as dire. Whether that means more declines are in store for next week, is anybody’s guess. Gold has continued to trend up, rebel that it is. Bitcoin suffered a sharp fall on Thursday, and looks to end the week down, strengthening its new-found correlation with stock market indices. While BTC is still ahead of other major indicators in terms of year-to-date performance, the long bond index is catching up fast, with what looks like momentum. Chain links Oops. Someone sent a $130 transaction on ethereum with a $2.6 million transaction fee. And then he or she did it again. And then another user made a transaction with a $500,000 fee. TAKEAWAY: This is an extraordinary story for many reasons. One is the mystery: who is sending transactions with such whopping fees, and why? Some think it could be money laundering, others suggest blackmail, or it could just be a series of genuine mistakes. Another compelling aspect is what this says about the vulnerabilities of trustless transactions – if this were traditional finance, the financial middleman would notice and hopefully fix the error. In crypto, however, what’s done is done. The miners who receive the outsized fees can decide to return the funds, but they don’t have to, and they may not even be able to trace the sender. This highlights how removing the need to trust the middleman merely surfaces vulnerabilities elsewhere. My colleague Ian Allison reviews recent developments in the crypto custody industry. TAKEAWAY: The hectic building and acquisition activity seen recently reveals a scramble to define the business model for crypto market infrastructure going forward. While some are trying to adapt traditional structures for crypto markets, on the grounds that investors expect a certain level of service and reassurance, others are working to break the centralized mold and create systems that in theory are more robust. The interesting split is the differentiation between service and technology : can they go together, or will investors have to choose? London-based investment firm ETC Group plans to list a bitcoin-backed security, called the Bitcoin Exchange Traded Crypto (BTCE), on the German electronic trading market later this month. TAKEAWAY: This is actually quite a big deal. Xetra is a very significant exchange, one of Europe’s largest – more than 90% of German share trading volume and 30% of all European ETF volume pass through the platform. And now it will have a bitcoin-backed product, centrally cleared and accessible to all types of investors, which makes it easier to include in diversified portfolios of any size. Investors won’t need to master new processes and open up new accounts, which should move the needle on access to convenient bitcoin investing. The trading arm of crypto investment house Galaxy Digital and regulated bitcoin derivatives exchange Bakkt are partnering to offer institutional investors a high-touch trading and custody service. TAKEAWAY: This adds to the intensifying push towards full prime brokerage services in the crypto asset markets. Over the past few weeks we have seen crypto lender and OTC desk Genesis * launch prime brokerage services, crypto custodian BitGo get into the space, and crypto exchange Coinbase buy prime broker Tagomi. Other startups and incumbents are also maneuvering to get what all see as building institutional demand. Bakkt and Galaxy add some blue-chip names (by crypto standards) to the list, and also represent the growing consolidation in investor services. (Genesis is owned by DCG, parent of CoinDesk.) On Wednesday, Coinbase released a list of 19 crypto assets that it is considering listing. As of Thursday, these assets had increased in price by an average of 17%. TAKEAWAY: I find this bewildering. You announce you’re thinking of listing certain assets on your exchange, and the prices of those assets shoot up on other exchanges, presumably in anticipation of the additional liquidity and investor interest that listing on your exchange will bring. This is totally okay, and not at all against the rules. True, there is no overt market manipulation going on, because we can’t assume that Coinbase or its employees are benefitting from the announcement and the subsequent pump. But why announce, why not just list? I’m not saying it’s manipulation, because it’s not clear that the insiders benefit – but releasing sensitive information that can move prices before any actual decision is made feels like manipulation. Binance , the largest crypto exchange in the world in terms of volume, has introduced physically settled bitcoin futures with quarterly expiration dates, to complement its perpetual swaps. TAKEAWAY: Binance has been growing fast in the derivatives market – it has come from nowhere in late 2019 to being the fifth largest bitcoin futures platform in terms of open interest. The introduction of a new product that has seen traction elsewhere could kick that growth up a notch. What’s more, a broader range of derivative formats is good news for the crypto markets. Not only do investors, traders, miners, exchanges and other crypto-related business have a wider range of choices when it comes to risk management; us market watchers also get another data point to scratch our heads over. Hut 8 Mining, one of the largest publicly traded miners in the world (it is listed on the Toronto Stock Exchange under the symbol HUT), is looking to raise at least C$7.5 million (US $5.6 million) to upgrade its fleet of BlockBox bitcoin miners. It’s targeting an asking price of C$1.45 per common share, substantially above the stock’s price at time of writing ($1.31 on 6/12/20). TAKEAWAY: In his recent in-depth report on Hut 8, my colleague Matt Yamamoto predicted they would need additional funding in order to upgrade to more efficient miners. He also, however, pointed out that a successful raise would be difficult in the current macro environment, especially given the recent departure of the CEO, who was pivotal in previous funding rounds. The percentage of bitcoin’s circulating supply in profit is currently hovering at 87% – according to blockchain analytics firm Glassnode, levels this high have historically marked bull markets. TAKEAWAY: This is an interesting metric, but its application is confusing at times. I have seen a high in-profit ratio used as a bull indicator, and I have also seen it used as a bearish indicator (because holders could be tempted to take profits). Also worth reading: Your Property Rights Should Extend to Social Media – Nic Carter, CoinDesk ‘Radical Indifference’: How Surveillance Capitalism Conquered Our Lives – Interview with Shoshana Zuboff, CoinDesk The power of protest and the legacy of George Floyd – The Economist (paywall) ‘Volatility Is Everywhere’: The Market Tactic That’s Driving Stocks Haywire – Gunjan Banerji, Wall Street Journal (paywall) Podcasts worth listening to: What the Stock Market’s ‘Robinhood Rally’ Means for Bitcoin – Nathaniel Whittemore, The Breakdown Why the Fed Keeps Denying Its Role in Increasing Inequality – Nathaniel Whittemore, The Breakdown Paolo Ardoino: Managing the growth of Tether – Nic Carter, On the Brink Grant Williams & Luke Gromen Talk Global Macro Economics – Preston Pysh & Stig Brodersen, We Study Billionaires Related Stories Just-Launched Ziglu Wants to Make It Stupid Easy to Buy Crypto Japan’s High Court Rejects Former Mt Gox CEO’s Conviction Appeal \|\| Crypto Long & Short: Cryptocurrency Markets May Be Decentralized but They’re Still Accountable: One underappreciated feature of crypto markets is the lack of centralization. I mean, people know crypto assets are decentralized and trade on exchanges all over the world. But what’s often overlooked is the relative ease with which people can change the venues they buy and sell their holdings on. If, for instance, Jeff Sprecher (chairman of the New York Stock Exchange) says something that upsets you, you couldn’t exactly stop trading on the NYSE without liquidating a good percentage of your portfolio because for many stocks it is the only trading venue. However, if a crypto exchange does something you fundamentally disagree with, you can trade your crypto assets elsewhere. There is no shortage of options. You’re readingCrypto Long & Short, a newsletter that looks closely at the forces driving cryptocurrency markets. Authored by CoinDesk’s head of research, Noelle Acheson, it goes out every Sunday and offers a recap of the week – with insights and analysis – from a professional investor’s point of view.You can subscribe here. Coinbaseearlier this week revealedthat it has initiated procurement deals with a number of U.S. agencies, including the Drug Enforcement Administration (DEA) and the Internal Revenue Service (IRS), for a tool called “Coinbase Analytics.” The firm insists that the tool will not draw on customer information – but crypto folks are not, in general, a trusting lot. According to data from blockchain analytics firmGlassnode,bitcoin held on Coinbase has plummeted. Now, Coinbase uses a different address-reuse policy than most exchanges, so this might be the exchange moving coins from one address to another that has not yet been labeled. Or, it could be one very large holder moving his or her bitcoins to another wallet, either on or off Coinbase. Related:Crypto Long & Short: Cryptocurrency Markets May Be Decentralized but They’re Still Accountable While we can’t yet draw firm conclusions, there are two intriguing takeaways from this speculation: 1) Crypto asset movements are trackable. We usually don’t know who is sending or receiving, but we can see the movements happen, and large exchange addresses are usually known –some servicesautomatically send alerts when a significant shift happens between exchanges and either users or other exchanges. Imagine being able to track movements of stock or bond holdings. 2) Crypto exchanges can easily lose business if users feel certain values are not being upheld. Many crypto investors have strong feelings about privacy and government collusion, and, judging from Twitter comments, many are moving their business elsewhere. In the non-crypto world, we have often seen businesses suffering the consequences of actions – but not significant market infrastructure players. They often have a quasi-monopoly over certain parts of capital markets. On the other hand, they are heavily regulated, so their leeway to anger customers is limited. Crypto market infrastructure participants are not so constrained. They are, however, subject to public scrutiny, by a cohort with a megaphone, that cares deeply about certain issues and business practices. In early 2019, Coinbase bought cybersecurity firm Neutrino, which had close links to a team that had helped authoritarian governments spy on their citizens. Theresulting public outcryand the#DeleteCoinbase campaignthat got started on Twitter was enough for Coinbase to backpedal andfire Neutrino’s founders.This puts a new twist on the notion of businesses being accountable to their users. It highlights the role that trust plays in markets. In traditional markets, that trust is enforced by regulations. However, regulations are enacted by governments, which in these tumultuous times are losing trust across the board, according to the latestEdelman Trust Barometer(not that we needed a study to tell us that). Here we have an emergent capital market that does not need oversight to enforce good market behavior. The crypto market itself seems to be doing a pretty good job of that. This raises questions about the value of transparency, the power of choice and the connection with community. And I’d be very surprised if traditional capital markets players weren’t watching all this with interest. Fidelity Digital Assets, the crypto asset arm of financial giant Fidelity Investments,released a surveyof over 770 institutional investors in the U.S. and Europe, which revealed that 36% own cryptocurrencies or related derivatives. Last year, Fidelity Digital Assets surveyed 441 institutions in the U.S., 22% of which had invested crypto assets at the time. Beyond those headline figures, which show encouraging growth, there are some significant takeaways from the result. The data I find especially intriguing are the barriers to investment, the main concerns that hold institutional investors back from investing in crypto assets. The highest-ranking worry is price volatility, which bothered over half of the respondents. Yet, compared to the 2019 survey, the worry quotient fell by 13 points, more than any other factor. Good news perhaps? But take a look at the dates during which the survey was carried out: November 2019 – March 2020. Here’s the volatility chart for BTC for the 18 months leading up to the end of the survey period: But we all know what happened in March – prices in almost everything crashed, and bitcoin’s volatility shot up. Does this mean that volatility has now become more of a barrier than during the survey period? Perhaps, but volatility has shot up in more traditional markets, too: Moving on to the other main concerns – the lack of market surveillance (47% of respondents see this as a barrier) and the lack of valuation fundamentals (45%) – we see two very encouraging developments. Market surveillance isless of a worrynow than it was a year ago – the proportion of respondents citing this as a barrier dropped 6 points, pushing it to below half. This is likely to continue to trend lower, as both startups and incumbents are constantly fine-tuning the technology used to flag bad actors. And as for the understandable bewilderment as to how to value crypto assets when they have no solid backing and no cash flows, the shift there is especially exciting, and one that I expect to see significantly accelerate over the next 12 months. Crypto data platforms are improving their depth and breadth at an astonishing rate, and many new ones are springing up. And CoinDesk Research is currently working on a series of projects aimed at putting more crypto asset data in front of our users, as well as explaining this data in more detail. (Stay tuned.) But even more important, the survey result indicates a significant mindset shift. The supposed non-existence of crypto fundamentals has not changed. The assets still have the same properties as a year ago. What has changed is that a greater number of investors are accepting that they can’t view crypto assets through the same lens as more traditional holdings. They can’t expect to be able to value them in the same way. More are coming around to the idea that crypto assets require a new framework of understanding, based on new types of data and new value drivers.It’s a significant step towards more demand for education and deeper interest in the data. And where one group of open-minded innovative thinkers go, others will follow, if only to not miss out on potential returns. These are the necessary precursors to a broader acceptance of this asset class. Next year’s survey should be even more interesting. While it’s never good to see value lost, the end-of-week rout feels like a breather in the oppressive rise of stocks in the face of dire economic outlook that had not been priced in. Strong swings are commonplace these days, however, so by the time you read this, the confidence in the perpetual bailout could have overcome frightened animal spirits. Or not. The alarming20% dropin U.K. GDP month-on-month in April was a tragic accent to renewed Brexit tensions. And contagion rebounds in the face of much-welcome lockdown easing are a blow to fragile spirits, no matter how expected they were. As I write this on Friday morning, U.S. and European stocks are resting from their worst one-day falls since March, and signs point to markets opening further down. This seems like a sadly fitting end to a week that began with mainstream financial mediausing words like“fervid” in headlines. And, if indeed markets continue down, it will be oddly comforting to professional investors around the world to see confirmation of the adage that the top is called by retail investors pouring in. Even after the fall, the S&P 500 is still higher than at the end of February, when the economic outlook was not nearly as dire. Whether that means more declines are in store for next week, is anybody’s guess. Gold has continued to trend up, rebel that it is. Bitcoin suffered a sharp fall on Thursday, and looks to end the week down, strengthening its new-found correlation with stock market indices. While BTC is still ahead of other major indicators in terms of year-to-date performance, the long bond index is catching up fast, with what looks like momentum. Oops. Someone sent a $130 transaction onethereumwith a $2.6 million transaction fee. And then he or shedid it again.And then another user made a transaction with a $500,000 fee.TAKEAWAY:This is an extraordinary story for many reasons. One is the mystery: who is sending transactions with such whopping fees, and why? Some think it could bemoney laundering,others suggestblackmail,or it could just be a series of genuine mistakes. Another compelling aspect is what this says about the vulnerabilities of trustless transactions – if this were traditional finance, the financial middleman would notice and hopefully fix the error. In crypto, however, what’s done is done. The miners who receive the outsized fees can decide to return the funds, but they don’t have to, and they may not even be able to trace the sender. This highlights how removing the need to trust the middleman merely surfaces vulnerabilities elsewhere. My colleague Ian Allisonreviews recent developmentsin thecrypto custodyindustry.TAKEAWAY:The hectic building and acquisition activity seen recently reveals a scramble to define the business model for crypto market infrastructure going forward. While some are trying to adapt traditional structures for crypto markets, on the grounds that investors expect a certain level of service and reassurance, others are working to break the centralized mold and create systems that in theory are more robust. The interesting split is the differentiation betweenserviceandtechnology: can they go together, or will investors have to choose? London-based investment firm ETC Groupplans to lista bitcoin-backed security, called theBitcoin Exchange Traded Crypto(BTCE), on the German electronic trading market later this month.TAKEAWAY:This is actually quite a big deal.Xetrais a very significant exchange, one of Europe’s largest – more than 90% of German share trading volume and 30% of all European ETF volume pass through the platform. And now it will have a bitcoin-backed product, centrally cleared and accessible to all types of investors, which makes it easier to include in diversified portfolios of any size. Investors won’t need to master new processes and open up new accounts, which should move the needle on access to convenient bitcoin investing. The trading arm of crypto investment houseGalaxy Digitaland regulated bitcoin derivatives exchangeBakktare partnering to offerinstitutional investors a high-touch trading and custody service.TAKEAWAY:This adds to the intensifying push towards full prime brokerage services in the crypto asset markets. Over the past few weeks we have seen crypto lender and OTC deskGenesis launch prime brokerage services, crypto custodianBitGoget into the space, and crypto exchangeCoinbasebuy prime broker Tagomi.Other startupsandincumbentsare also maneuvering to get what all see as building institutional demand. Bakkt and Galaxy add some blue-chip names (by crypto standards) to the list, and also represent the growing consolidation in investor services.(*Genesis is owned by DCG, parent of CoinDesk.) On Wednesday,Coinbasereleased a listof 19 crypto assets that it is considering listing. As of Thursday, these assets had increased in price by an average of 17%.TAKEAWAY:I find this bewildering. You announce you’rethinkingof listing certain assets on your exchange, and the prices of those assets shoot up on other exchanges, presumably in anticipation of the additional liquidity and investor interest that listing on your exchange will bring. This is totally okay, and not at all against the rules. True, there is no overt market manipulation going on, because we can’t assume that Coinbase or its employees are benefitting from the announcement and the subsequent pump. But why announce, why not just list? I’m not saying it’s manipulation, because it’s not clear that the insiders benefit – but releasing sensitive information that can move prices before any actual decision is madefeelslike manipulation. Binance, the largest crypto exchange in the world in terms of volume, has introducedphysically settled bitcoin futureswith quarterly expiration dates, to complement its perpetual swaps.TAKEAWAY:Binance has been growing fast in the derivatives market – it has come from nowhere in late 2019 to being the fifth largest bitcoin futures platform in terms of open interest. The introduction of a new product that has seen traction elsewhere could kick that growth up a notch. What’s more, a broader range of derivative formats is good news for the crypto markets. Not only do investors, traders, miners, exchanges and other crypto-related business have a wider range of choices when it comes to risk management; us market watchers also get another data point to scratch our heads over. Hut 8 Mining,one of the largest publicly traded miners in the world (it is listed on the Toronto Stock Exchange under the symbol HUT), islooking to raiseat least C$7.5 million (US $5.6 million) to upgrade its fleet of BlockBox bitcoin miners. It’s targeting an asking price of C$1.45 per common share, substantially above the stock’s price at time of writing ($1.31 on 6/12/20).TAKEAWAY:In his recentin-depth report on Hut 8,my colleague Matt Yamamoto predicted they would need additional funding in order to upgrade to more efficient miners. He also, however, pointed out that a successful raise would be difficult in the current macro environment, especially given the recent departure of the CEO, who was pivotal in previous funding rounds. The percentage of bitcoin’scirculating supplyin profit iscurrently hovering at87% – according to blockchain analytics firmGlassnode,levels this high have historically marked bull markets.TAKEAWAY:This is an interesting metric, but its application is confusing at times. I have seen a high in-profit ratio used as a bull indicator, and I have also seen it used as a bearish indicator (because holders could be tempted to take profits). Also worth reading: • Your Property Rights Should Extend to Social Media– Nic Carter, CoinDesk • ‘Radical Indifference’: How Surveillance Capitalism Conquered Our Lives– Interview with Shoshana Zuboff, CoinDesk • The power of protest and the legacy of George Floyd– The Economist (paywall) • ‘Volatility Is Everywhere’: The Market Tactic That’s Driving Stocks Haywire– Gunjan Banerji, Wall Street Journal (paywall) Podcasts worth listening to: • What the Stock Market’s ‘Robinhood Rally’ Means for Bitcoin– Nathaniel Whittemore, The Breakdown • Why the Fed Keeps Denying Its Role in Increasing Inequality– Nathaniel Whittemore, The Breakdown • Paolo Ardoino: Managing the growth of Tether– Nic Carter, On the Brink • Grant Williams & Luke Gromen Talk Global Macro Economics– Preston Pysh & Stig Brodersen, We Study Billionaires • Just-Launched Ziglu Wants to Make It Stupid Easy to Buy Crypto • Japan’s High Court Rejects Former Mt Gox CEO’s Conviction Appeal \|\| How Gavin Wood and Polkadot are Revolutionizing Blockchain… Again: LANCASTER, LANCASHIRE, UK / ACCESSWIRE / June 14, 2020 / This is Gavin Wood. If you're even mildly read up on crypto, you might know him as Dr. Gavin James Wood - the co-founder and Chief Technology Officer of Bitcoin's closest competitor, Ethereum. From Wood's doctorate in computer science to designing the majority of the world's first C++ language workbench, it's fair to say that Wood has quite the resume. But when Bitcoin began to make headlines, it was with the computer visualization of music, not crypto, in which he was interested. It wouldn't be until some seven years after the launch of Bitcoin that Wood co-founded the revolutionary Ethereum project with Vitalik Buterin. As its CTO responsible for delivering the technology , Wood invented the Ethereum Virtual Machine, specified in the Ethereum Yellow Paper he wrote . Wood also conceived its coding language, Solidity. Having left Ethereum some years back, Dr. Gavin Wood has been busy, to say the least. His latest project, Polkadot , is looking set to achieve the equivalent of reinventing the crypto wheel, again. The Polkadot story started with Parity Technologies - a core blockchain infrastructure for Ethereum and other Web 3.0 networks founded by Wood alongside Dr. Jutta Steiner, who served as Chief of Security for Ethereum's launch. The aim was disruption - to shake up the centralized node-based software application standard. Originally named 'EthCore', as the team made up many of Wood's core Ethereum development team, Parity centered around overcoming usability, performance and governance issues that had so far hampered the Ethereum ecosystem. After developing and launching the Parity Ethereum client, which quickly became the go-to choice for Ethereum miners and developers alike, Wood and his team were looking to push the industry forward. Having coined the term Web 3.0 - otherwise known as the decentralized web - Dr. Wood soon founded the Web3 Foundation to support the development of the technologies necessary to achieve his vision. As Ethereum 2.0 research dragged on , Wood and his core development team determined that building a protocol to connect blockchains was a critical missing link in the Web 3.0 tech stack. If blockchain technology was going to provide the trust layer for a new, open internet without the powerful authorities like Google and Facebook who we currently trust with many of our interactions online, they were going to have to be able to communicate and scale. Story continues The end result is Polkadot - a "sharded protocol that enables blockchain networks to operate together seamlessly." Problems, Problems… From forking to interoperability, Polkadot is taking aim at multiple problems that currently plague the blockchain space. "But don't they all?!", I hear you ask. It's true - there are plenty of blockchains that have gone before this that profess to be a magic wand. It seems, however, that Polkadot genuinely does provide innovative answers to many of these issues. Like providing true interoperability by enabling cross-blockchain transfers of any type of data or asset (not just tokens, like existing blockchain interoperability solutions). Polkadot will also make blockchain innovation faster and easier - developers can create a custom blockchain in minutes using the Substrate framework. It is described as "forkless and future-proof" meaning networks can be upgraded and bugs can be fixed without hard forks while maintaining security for all. Chains connected to Polkadot are called parachains, which are united in their security but distinct when it comes to their local governance and operations. Unlike networks like Bitcoin, where governance is unformalized and fairly opaque, every stakeholder has a voice in Polkadot's future - upgrades to the network are coordinated on-chain and enacted autonomously, ensuring that Polkadot's development reflects the values of the community and avoids stagnation. The DOT Token's Use in the Polkadot Network The DOT token plays a few critical roles in the Polkadot network - governance, staking and bonding. Governance is usually a privilege for miners alone who hold total control over the protocol. Polkadot, on the other hand, passes control to its token holders instead. Second, staking is a feature that may have been positively influenced by Gavin's hobbies, which included a love for designing highly complex board games. Today, staking in Polkadot uses advanced game theory to effectively encourage network infrastructure operators to behave honestly. Good actors are rewarded, whilst bad actors lose some of their stake in the network - keeping the network secure. Finally, new parachains are added by bonding tokens. Outdated or non-useful parachains are removed by removing bonded tokens. To pass messages between parachains, tokens will also be used to pay for transaction fees. Life Before Polkadot Prior to Polkadot, companies of all sorts were developing their own private sidechains, followed swiftly by a headache when attempting to connect their project to Ethereum's public blockchain. This issue has stunted innovation in crypto and beyond for far too long. With Polkadot's arrival, there is now a protocol to act as an interchange and translator between the work of these creative coders, and the Ethereum blockchain - a goal deemed so important, that it raised $145 million back in 2017 through a public sale of half the total 10 million supply of DOT tokens. At the time, Ryan Zurrer, a partner in Polychain Capital, one of the private investors, told TechCrunch : "Polkadot is a crucial infrastructure element of Gav Wood's vision for Web3 and represents the most technically ambitious endeavor we have ever seen in blockchain. Realistically, only the deep and extraordinarily talented team from Parity, led by Jutta Steiner, have the technical chops to pull something like this off." Fast-forward three years, and those 'technical chops' have indeed pulled something off - something that has once again caught the attention of savvy investors. So, Where Next for Gavin Wood and Polkadot? Polkadot has lofty aspirations, which are in its sights as the Web3 Foundation officially initiated its launch at the start of this week . But as lofty as the ambition of linking up blockchains might be, this goal seems absolutely attainable, given Wood's resume and the talented team by his side. MEDIA DETAILS Company: Polkadot Contact person: Cormac Reynolds Email: [email protected] Website: https://polkadot.network/ SOURCE: Polkadot View source version on accesswire.com: https://www.accesswire.com/593816/How-Gavin-Wood-and-Polkadot-are-Revolutionizing-Blockchain-Again \|\| How Gavin Wood and Polkadot are Revolutionizing Blockchain… Again: LANCASTER, LANCASHIRE, UK / ACCESSWIRE / June 14, 2020 /This is Gavin Wood. If you're even mildly read up on crypto, you might know him as Dr. Gavin James Wood - the co-founder and Chief Technology Officer of Bitcoin's closest competitor, Ethereum. From Wood's doctorate in computer science to designing the majority of the world's first C++ language workbench, it's fair to say that Wood has quite the resume. But when Bitcoin began to make headlines, it was with the computer visualization of music, not crypto, in which he was interested. It wouldn't be until some seven years after the launch of Bitcoin that Wood co-founded the revolutionary Ethereum project with Vitalik Buterin.As its CTO responsible for delivering the technology, Wood invented the Ethereum Virtual Machine, specified inthe Ethereum Yellow Paper he wrote. Wood also conceived its coding language, Solidity. Having left Ethereum some years back, Dr. Gavin Wood has been busy, to say the least. His latest project,Polkadot, is looking set to achieve the equivalent of reinventing the crypto wheel, again. The Polkadot story started with Parity Technologies - a core blockchain infrastructure for Ethereum and other Web 3.0 networks founded by Wood alongside Dr. Jutta Steiner, who served as Chief of Security for Ethereum's launch. The aim was disruption - to shake up the centralized node-based software application standard. Originally named 'EthCore', as the team made up many of Wood's core Ethereum development team, Parity centered around overcoming usability, performance and governance issues that had so far hampered the Ethereum ecosystem. After developing and launching the Parity Ethereum client, which quickly became the go-to choice for Ethereum miners and developers alike, Wood and his team were looking to push the industry forward.Having coined the term Web 3.0- otherwise known as the decentralized web - Dr. Wood soon founded the Web3 Foundation to support the development of the technologies necessary to achieve his vision.As Ethereum 2.0 research dragged on, Wood and his core development team determined that building a protocol to connect blockchains was a critical missing link in the Web 3.0 tech stack. If blockchain technology was going toprovide the trust layer for a new, open internetwithout the powerful authorities like Google and Facebook who we currently trust with many of our interactions online, they were going to have to be able to communicate and scale. The end result is Polkadot - a "sharded protocol that enables blockchain networks to operate together seamlessly." Problems, Problems… From forking to interoperability, Polkadot is taking aim at multiple problems that currently plague the blockchain space. "But don't they all?!", I hear you ask. It's true - there are plenty of blockchains that have gone before this that profess to be a magic wand. It seems, however, that Polkadot genuinelydoesprovide innovative answers to many of these issues. Like providing true interoperability by enabling cross-blockchain transfers of any type of data or asset (not just tokens, like existing blockchain interoperability solutions). Polkadot will also make blockchain innovation faster and easier - developers can create a custom blockchain in minutes using the Substrate framework. It is described as "forkless and future-proof" meaning networks can be upgraded and bugs can be fixed without hard forks while maintaining security for all. Chains connected to Polkadot are called parachains, which are united in their security but distinct when it comes to their local governance and operations. Unlike networks like Bitcoin, where governance is unformalized and fairly opaque, every stakeholder has a voice in Polkadot's future - upgrades to the network are coordinated on-chain and enacted autonomously, ensuring that Polkadot's development reflects the values of the community and avoids stagnation. The DOT Token's Use in the Polkadot Network The DOT token plays a few critical roles in the Polkadot network - governance, staking and bonding. Governance is usually a privilege for miners alone who hold total control over the protocol. Polkadot, on the other hand, passes control to its token holders instead. Second, staking is a feature that may have been positively influenced by Gavin's hobbies, which included a love for designing highly complex board games. Today, staking in Polkadot uses advanced game theory to effectively encourage network infrastructure operators to behave honestly. Good actors are rewarded, whilst bad actors lose some of their stake in the network - keeping the network secure. Finally, new parachains are added by bonding tokens. Outdated or non-useful parachains are removed by removing bonded tokens. To pass messages between parachains, tokens will also be used to pay for transaction fees. Life Before Polkadot Prior to Polkadot, companies of all sorts were developing their own private sidechains, followed swiftly by a headache when attempting to connect their project to Ethereum's public blockchain. This issue has stunted innovation in crypto and beyond for far too long. With Polkadot's arrival, there is now a protocol to act as an interchange and translator between the work of these creative coders, and the Ethereum blockchain - a goal deemed so important, that it raised $145 million back in 2017 through a public sale of half the total 10 million supply of DOT tokens. At the time, Ryan Zurrer, a partner in Polychain Capital, one of the private investors,told TechCrunch: "Polkadot is a crucial infrastructure element of Gav Wood's vision for Web3 and represents the most technically ambitious endeavor we have ever seen in blockchain. Realistically, only the deep and extraordinarily talented team from Parity, led by Jutta Steiner, have the technical chops to pull something like this off." Fast-forward three years, and those 'technical chops' have indeed pulled something off - something that has once again caught the attention of savvy investors. So, Where Next for Gavin Wood and Polkadot? Polkadot has lofty aspirations, which are in its sights as the Web3 Foundationofficially initiated its launch at the start of this week. But as lofty as the ambition of linking up blockchains might be, this goal seems absolutely attainable, given Wood's resume and the talented team by his side.MEDIA DETAILSCompany: PolkadotContact person:Cormac ReynoldsEmail:[email protected]:https://polkadot.network/ SOURCE:Polkadot View source version on accesswire.com:https://www.accesswire.com/593816/How-Gavin-Wood-and-Polkadot-are-Revolutionizing-Blockchain-Again \|\| Wilshire Phoenix files a registration statement for publicly traded bitcoin fund: After facing a rejection of its proposed exchange-traded product (ETP) in February, investment firm Wilshire Phoenix has filed a proposal for a publicly traded fund to be listed in the OTC market with the Securities Exchange Commission (SEC). The firm filed an S-1 registration statement Bitcoin Commodity Trust, a product aimed at OTC investors, dated June 12. Wilshire Phoenix previously sought approval for a bitcoin ETP that hedged bitcoin against U.S. Treasury bills. This approach was a response to the volatility concerns cited in other SEC denials of crypto ETPs, the firm said last year , at the time of filing. That attempt was denied in February of this year, when the SEC rejected the last remaining bitcoin ETP proposal. Now, Wilshire Phoenix seems to be taking another stab at approval for an OTC product. The filing states that this trust "will have no assets other than bitcoin," but may also hold U.S. dollars for short periods related to the buying and selling of bitcoin, redemptions and fees. Fidelity Digital will custody the Trust's bitcoin, while any dollars will be held by UMB Bank. The SEC has yet to approve a bitcoin ETP, with previous attempts from Bitwise and the Winklevoss brothers failing to garner approval. After the Wilshire Phoenix rejection in March, SEC Commissioner Hester Peirce published a dissent that argued the SEC has applied an "inappropriate standard" in its consideration of a bitcoin ETP. At the time of rejection, the firm said it was considering "all possible routes" as it reviewed the rejection order. Correction: The headline and the lede of this report have been corrected to reflect that Wilshire Phoenix's new offering is for a publicly traded fund, not an ETP. © 2020 The Block Crypto, Inc. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice. \|\| Wilshire Phoenix files a registration statement for publicly traded bitcoin fund: After facing a rejection of its proposed exchange-traded product (ETP) in February, investment firm Wilshire Phoenix has filed a proposal for a publicly traded fund to be listed in the OTC market with the Securities Exchange Commission (SEC). The firm filed anS-1 registration statementBitcoin Commodity Trust, a product aimed at OTC investors, dated June 12. Wilshire Phoenix previously sought approval for a bitcoin ETP that hedged bitcoin against U.S. Treasury bills. This approach was a response to the volatility concerns cited in other SEC denials of crypto ETPs,the firm said last year, at the time of filing. That attempt was denied inFebruary of this year,when the SEC rejected the last remaining bitcoin ETP proposal. Now, Wilshire Phoenix seems to be taking another stab at approval for an OTC product. The filing states that this trust "will have no assets other than bitcoin," but may also hold U.S. dollars for short periods related to the buying and selling of bitcoin, redemptions and fees. Fidelity Digital will custody the Trust's bitcoin, while any dollars will be held by UMB Bank. The SEC has yet to approve a bitcoin ETP, with previous attempts from Bitwise and the Winklevoss brothers failing to garner approval. After the Wilshire Phoenix rejection in March, SEC Commissioner Hester Peirce published a dissent that argued the SEC has applied an "inappropriate standard" in its consideration of a bitcoin ETP. At the time of rejection, the firm said it was considering "all possible routes" as it reviewed the rejection order. Correction:The headline and the lede of this report have been corrected to reflect that Wilshire Phoenix's new offering is for a publicly traded fund, not an ETP. © 2020 The Block Crypto, Inc. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice. \|\| Bootstrapping Mobile Mesh Networks With Bitcoin Lightning: The best Sundays are for long reads and deep conversations. Recently the hosts of the Lets Talk Bitcoin! Show were joined by Richard Myers to discuss the current state of mesh networks and how Bitcoins Lightning may be the missing ingredient to their success. Listen/subscribe to the CoinDesk Podcast feed for unique perspectives and fresh daily insight with Apple Podcasts , Spotify , Pocketcasts , Google Podcasts , Castbox , Stitcher , RadioPublica , IHeartRadio or RSS . The episode is sponsored by eToro.com and The Internet of Money Vol. 3 On todays episode of Lets Talk Bitcoin! youre invited to join Andreas M. Antonopoulos, Adam B. Levine, Stephanie Murphy and special guest Richard Myers for an in-depth look at the past, present and future of Mobile Mesh Networking technology and the open source LOT49 protocol built on top of Bitcoins Lightning Network. Just as cryptocurrencies like bitcoin dont rely on static infrastructure and professional providers, mobile mesh networking allows the creation of inexpensive, high range, low-bandwidth and low-power networks thatll let your phone send text messages or even bitcoin micro-transactions, even in areas with no coverage. According to Myers, Bitcoins Lightning Network is whats needed to make mobile mesh networks catch on by bootstrapping on top of the payment routing infrastructure. The Lightning Network currently sends payments from A to B to C and then all those intermediate nodes can collect a small fee if the payment is delivered at the end. All were doing is saying Not only [can you send] a payment, but [you can send] a small message. In our case, itd be a SMS message. So youre sending an SMS message along with a Lightning payment from A to B to C to D, and when D receives that message they return proof that it was delivered and thats what flows back through the network. In the Lightning sense, thats your pre-image. Its computed from the message, thats how the nodes are able to collect payment even if they lose touch with the original person who sent it. Story continues Related: Bootstrapping Mobile Mesh Networks With Bitcoin Lightning See also: Grasping Lightning: Mapping the Key Players in Bitcoins Next Phase But the way the Lightning Network uses data natively isnt ideal for mobile mesh. The open source Lot49 protocol is another layer on top of Lightning that Myers says is necessary to make it work at scale while using mesh devices as an extremely low-bandwidth TOR-like privacy layer. In many ways were not making a new protocol, were literally using Lightning. Lot49 is ca ustom communication protocol thats optimized for mesh. For example, right now theres a 1300-byte onion thats used to route messages over the internet and thats very important because you lose a lot of privacy you lose all your privacy if you were to just send messages over the internet without onion routing. Were sending over more or less a physical TOR network since its going from node to node, not through a central ISP who can associate who youre trying to pay. Were also doing it over a low bandwidth network, so if you were sending 1300 bytes it may not sound like much in the age of the internet but were talking about devices that [have a maximum data transmission capacity of] about a kilobyte a minute so thats a significant amount of the bandwidth that you have [tied up just in the webs onion routing] So, for example with LOT49, we take out the onion and we use the native routing at the mesh device [level] which is optimized for mesh communications. And there are a few other little changes we make like that in order to reduce the bandwidth by chunking up messages. The ultimate goal is to minimize the Lightning protocol overhead so that there is more bandwidth available for data for things like sending an SMS and as bandwidth increases there may be things like internet protocol. Credits This episode of Lets Talk Bitcoin features Stephanie Murphy, Andreas M. Antonopoulos, Adam B. Levine and Richard Myers. Music provided by Jared Rubens and Gurty Beats, with editing by Jonas. Related Stories JPMorgan Analysts: Bitcoin Is Likely to Survive (as a Speculative Asset) The Chad Index Versus Doomer Internet Money: The Breakdown Weekly Recap \|\| Bootstrapping Mobile Mesh Networks With Bitcoin Lightning: The best Sundays are for long reads and deep conversations. Recently the hosts of theLet’s Talk Bitcoin! Showwere joined by Richard Myers to discuss the current state of mesh networks and how Bitcoin’s Lightning may be the missing ingredient to their success. Listen/subscribe to the CoinDesk Podcast feed for unique perspectives and fresh daily insight withApple Podcasts,Spotify,Pocketcasts,Google Podcasts,Castbox,Stitcher,RadioPublica,IHeartRadioorRSS. The episode is sponsored byeToro.comandThe Internet of Money Vol. 3 On today’s episode of Let’s Talk Bitcoin! you’re invited to join Andreas M. Antonopoulos, Adam B. Levine, Stephanie Murphy and special guest Richard Myers for an in-depth look at the past, present and future of Mobile Mesh Networking technology and the open source LOT49 protocol built on top of Bitcoin’s Lightning Network. Just as cryptocurrencies like bitcoin don’t rely on static infrastructure and professional providers, mobile mesh networking allows the creation of inexpensive, high range, low-bandwidth and low-power networks that’ll let your phone send text messages or even bitcoin micro-transactions, even in areas with no coverage. According to Myers, Bitcoin’s Lightning Network is what’s needed to make mobile mesh networks catch on by bootstrapping on top of the payment routing infrastructure. “The Lightning Network currently sends payments from A to B to C and then all those intermediate nodes can collect a small fee if the payment is delivered at the end. All we’re doing is saying ‘Not only [can you send] a payment, but [you can send] a small message.’ In our case, it’d be a SMS message. So you’re sending an SMS message along with a Lightning payment from A to B to C to D, and when D receives that message they return proof that it was delivered and that’s what flows back through the network. In the Lightning sense, that’s your pre-image. It’s computed from the message, that’s how the nodes are able to collect payment even if they lose touch with the original person who sent it.” Related:Bootstrapping Mobile Mesh Networks With Bitcoin Lightning See also:Grasping Lightning: Mapping the Key Players in Bitcoin’s Next Phase But the way the Lightning Network uses data natively isn’t ideal for mobile mesh. The open sourceLot49 protocolis another layer on top of Lightning that Myers says is necessary to make it work at scale while using mesh devices as an extremely low-bandwidth TOR-like privacy layer. “In many ways we’re not making a new protocol, we’re literally using Lightning.Lot49is ca ustom communication protocol that’s optimized for mesh. For example, right now there’s a 1300-byte onion that’s used to route messages over the internet and that’s very important because you lose a lot of privacy … you lose all your privacy … if you were to just send messages over the internet without onion routing. We’re sending over more or less a physical TOR network since it’s going from node to node, not through a central ISP who can associate who you’re trying to pay. We’re also doing it over a low bandwidth network, so if you were sending 1300 bytes it may not sound like much in the age of the internet but we’re talking about devices that [have a maximum data transmission capacity of] about a kilobyte a minute so that’s a significant amount of the bandwidth that you have [tied up just in the web’s onion routing] So, for example with LOT49, we take out the onion and we use the native routing at the mesh device [level] which is optimized for mesh communications. And there are a few other little changes we make like that in order to reduce the bandwidth by chunking up messages. … The ultimate goal is to minimize the Lightning protocol overhead so that there is more bandwidth available for data … for things like sending an SMS and as bandwidth increases there may be things like internet protocol.” Credits This episode of Let’s Talk Bitcoin features Stephanie Murphy, Andreas M. Antonopoulos, Adam B. Levine and Richard Myers. Music provided by Jared Rubens and Gurty Beats, with editing by Jonas. • JPMorgan Analysts: Bitcoin Is Likely to Survive (as a Speculative Asset) • The Chad Index Versus Doomer Internet Money: The Breakdown Weekly Recap \|\| Bootstrapping Mobile Mesh Networks With Bitcoin Lightning: The best Sundays are for long reads and deep conversations. Recently the hosts of theLet’s Talk Bitcoin! Showwere joined by Richard Myers to discuss the current state of mesh networks and how Bitcoin’s Lightning may be the missing ingredient to their success. Listen/subscribe to the CoinDesk Podcast feed for unique perspectives and fresh daily insight withApple Podcasts,Spotify,Pocketcasts,Google Podcasts,Castbox,Stitcher,RadioPublica,IHeartRadioorRSS. The episode is sponsored byeToro.comandThe Internet of Money Vol. 3 On today’s episode of Let’s Talk Bitcoin! you’re invited to join Andreas M. Antonopoulos, Adam B. Levine, Stephanie Murphy and special guest Richard Myers for an in-depth look at the past, present and future of Mobile Mesh Networking technology and the open source LOT49 protocol built on top of Bitcoin’s Lightning Network. Just as cryptocurrencies like bitcoin don’t rely on static infrastructure and professional providers, mobile mesh networking allows the creation of inexpensive, high range, low-bandwidth and low-power networks that’ll let your phone send text messages or even bitcoin micro-transactions, even in areas with no coverage. According to Myers, Bitcoin’s Lightning Network is what’s needed to make mobile mesh networks catch on by bootstrapping on top of the payment routing infrastructure. “The Lightning Network currently sends payments from A to B to C and then all those intermediate nodes can collect a small fee if the payment is delivered at the end. All we’re doing is saying ‘Not only [can you send] a payment, but [you can send] a small message.’ In our case, it’d be a SMS message. So you’re sending an SMS message along with a Lightning payment from A to B to C to D, and when D receives that message they return proof that it was delivered and that’s what flows back through the network. In the Lightning sense, that’s your pre-image. It’s computed from the message, that’s how the nodes are able to collect payment even if they lose touch with the original person who sent it.” Related:Bootstrapping Mobile Mesh Networks With Bitcoin Lightning See also:Grasping Lightning: Mapping the Key Players in Bitcoin’s Next Phase But the way the Lightning Network uses data natively isn’t ideal for mobile mesh. The open sourceLot49 protocolis another layer on top of Lightning that Myers says is necessary to make it work at scale while using mesh devices as an extremely low-bandwidth TOR-like privacy layer. “In many ways we’re not making a new protocol, we’re literally using Lightning.Lot49is ca ustom communication protocol that’s optimized for mesh. For example, right now there’s a 1300-byte onion that’s used to route messages over the internet and that’s very important because you lose a lot of privacy … you lose all your privacy … if you were to just send messages over the internet without onion routing. We’re sending over more or less a physical TOR network since it’s going from node to node, not through a central ISP who can associate who you’re trying to pay. We’re also doing it over a low bandwidth network, so if you were sending 1300 bytes it may not sound like much in the age of the internet but we’re talking about devices that [have a maximum data transmission capacity of] about a kilobyte a minute so that’s a significant amount of the bandwidth that you have [tied up just in the web’s onion routing] So, for example with LOT49, we take out the onion and we use the native routing at the mesh device [level] which is optimized for mesh communications. And there are a few other little changes we make like that in order to reduce the bandwidth by chunking up messages. … The ultimate goal is to minimize the Lightning protocol overhead so that there is more bandwidth available for data … for things like sending an SMS and as bandwidth increases there may be things like internet protocol.” Credits This episode of Let’s Talk Bitcoin features Stephanie Murphy, Andreas M. Antonopoulos, Adam B. Levine and Richard Myers. Music provided by Jared Rubens and Gurty Beats, with editing by Jonas. • JPMorgan Analysts: Bitcoin Is Likely to Survive (as a Speculative Asset) • The Chad Index Versus Doomer Internet Money: The Breakdown Weekly Recap \|\| CryptoMixer.bz: Bitcoin Mixer for your anonymity in the Crypto World: N EW YORK, NY / ACCESSWIRE / June 14, 2020 / The concept of blockchain and thus, Bitcoin, came riding on the advantage of the anonymity of transactions, defiance to authority, lack of centralization and overseer authority among other advantages. Cryptocurrencies became popular because their programmers touted them as anonymous. It has, however, emerged that they are not and that transactions undertaken using altcoins can be traced. Over time with the increased government scrutiny and unwanted invasion by phishers, users now realize that the cryptocurrency world is not as anonymous as most of them were led to believe. A tech startup called, CryptoMixer is changing all this and giving back cryptocurrency enthusiasts their security and privacy. The start-up provides a cryptocurrency mixing platform that obscures your cryptocurrency transactions, making it hard for anyone to trace your dealings. CryptoMixer reintroduces anonymity by allowing online shoppers that pay using cryptocurrency through addresses that remain anonymous when the user is completing transactions. The shoppers, as such, cannot be associated with the various addresses they use. How Does Coin Mixing Work? Coin mixers work by essentially collecting cryptocurrency from the people using cryptocurrency, mixing it with a giant pile of other cryptocurrencies, and then sending them smaller units of cryptocurrency to an address of their preference, with total the amount that you put in minus 1-3%. The 1-3 % is generally taken as a profit by the coin mixing company. This is how they make money. A cryptocurrency mixer (also known as a blender) allows you to spend, store and share cryptocurrencies, without your transactional data becoming public. In short, it makes your financial transactions anonymous in the true sense. It is done by mixing your transactional data with a pool of Bitcoin data. This ensures your data is secure, you have control over your privacy, and no data can be traced back to you, as the link between the sender and the receiver is broken. Story continues Crypto Mixer: The crypto mixing solution CryptoMixer is a unique cryptocurrency mixer/blender that ensures your cryptocurrency becomes untraceable, and no link exists between the stakeholders. They have designed different pools of cryptocurrencies based on their sources, with variable fee percentages. This segmentation and differentiation ensure the clean mixing of the currency. The three pools include Standard Pool, Smart Pool, and Stealth Pool. It uses a 'smart code' to avoid the same currencies from reaching a user on multiple occasions. Features of Smart Mixer Platform Zero Post-Transaction Logs - CryptoMixer platform keeps transaction logs for only as long as it needs them. The longest period that these logs can remain is 24 hours, otherwise, the platform keeps them only for as long as is necessary to complete a transaction. Full Anonymity - The need for complete anonymity is greater in the online space, and it is only second to the information online prowlers seek. Users that mix cryptocurrency on the platform do not even need to input their information. Instead, only the recipient altcoin address is necessary. Customizable Process - Users can set various parameters as they so choose. You, for instance, can choose the amount of cryptocurrency to mix, the commission to pay for the mixing, and the delay period you prefer. The importance of privacy and security while transacting online cannot be stressed enough. It probably is the reason why platforms like CryptoMixer are timely. The advantages it offers hold the possibility of making crypto mainstream. More details about cryptocurrency mixing and the CryptoMixer platform can be gathered through their official website www.cr yptomixer.bz . Media Details: Address: New York, NY 10022. USA (United States of America) Company Email: [email protected] Contact Person: Luke Goldmann Company Website: https://cryptomixer.bz/ SOURCE: CryptoMixer View source version on accesswire.com: https://www.accesswire.com/593851/CryptoMixerbz-Bitcoin-Mixer-for-your-anonymity-in-the-Crypto-World \|\| CryptoMixer.bz: Bitcoin Mixer for your anonymity in the Crypto World: N EW YORK, NY / ACCESSWIRE / June 14, 2020 / The concept of blockchain and thus, Bitcoin, came riding on the advantage of the anonymity of transactions, defiance to authority, lack of centralization and overseer authority among other advantages. Cryptocurrencies became popular because their programmers touted them as anonymous. It has, however, emerged that they are not and that transactions undertaken using altcoins can be traced. Over time with the increased government scrutiny and unwanted invasion by phishers, users now realize that the cryptocurrency world is not as anonymous as most of them were led to believe. A tech startup called, CryptoMixer is changing all this and giving back cryptocurrency enthusiasts their security and privacy. The start-up provides a cryptocurrency mixing platform that obscures your cryptocurrency transactions, making it hard for anyone to trace your dealings. CryptoMixer reintroduces anonymity by allowing online shoppers that pay using cryptocurrency through addresses that remain anonymous when the user is completing transactions. The shoppers, as such, cannot be associated with the various addresses they use. How Does Coin Mixing Work? Coin mixers work by essentially collecting cryptocurrency from the people using cryptocurrency, mixing it with a giant pile of other cryptocurrencies, and then sending them smaller units of cryptocurrency to an address of their preference, with total the amount that you put in minus 1-3%. The 1-3 % is generally taken as a profit by the coin mixing company. This is how they make money. A cryptocurrency mixer (also known as a blender) allows you to spend, store and share cryptocurrencies, without your transactional data becoming public. In short, it makes your financial transactions anonymous in the true sense. It is done by mixing your transactional data with a pool of Bitcoin data. This ensures your data is secure, you have control over your privacy, and no data can be traced back to you, as the link between the sender and the receiver is broken. Story continues Crypto Mixer: The crypto mixing solution CryptoMixer is a unique cryptocurrency mixer/blender that ensures your cryptocurrency becomes untraceable, and no link exists between the stakeholders. They have designed different pools of cryptocurrencies based on their sources, with variable fee percentages. This segmentation and differentiation ensure the clean mixing of the currency. The three pools include Standard Pool, Smart Pool, and Stealth Pool. It uses a 'smart code' to avoid the same currencies from reaching a user on multiple occasions. Features of Smart Mixer Platform Zero Post-Transaction Logs - CryptoMixer platform keeps transaction logs for only as long as it needs them. The longest period that these logs can remain is 24 hours, otherwise, the platform keeps them only for as long as is necessary to complete a transaction. Full Anonymity - The need for complete anonymity is greater in the online space, and it is only second to the information online prowlers seek. Users that mix cryptocurrency on the platform do not even need to input their information. Instead, only the recipient altcoin address is necessary. Customizable Process - Users can set various parameters as they so choose. You, for instance, can choose the amount of cryptocurrency to mix, the commission to pay for the mixing, and the delay period you prefer. The importance of privacy and security while transacting online cannot be stressed enough. It probably is the reason why platforms like CryptoMixer are timely. The advantages it offers hold the possibility of making crypto mainstream. More details about cryptocurrency mixing and the CryptoMixer platform can be gathered through their official website www.cr yptomixer.bz . Media Details: Address: New York, NY 10022. USA (United States of America) Company Email: [email protected] Contact Person: Luke Goldmann Company Website: https://cryptomixer.bz/ SOURCE: CryptoMixer View source version on accesswire.com: https://www.accesswire.com/593851/CryptoMixerbz-Bitcoin-Mixer-for-your-anonymity-in-the-Crypto-World \|\| CryptoMixer.bz: Bitcoin Mixer for your anonymity in the Crypto World: N EW YORK, NY / ACCESSWIRE / June 14, 2020 / The concept of blockchain and thus, Bitcoin, came riding on the advantage of the anonymity of transactions, defiance to authority, lack of centralization and overseer authority among other advantages. Cryptocurrencies became popular because their programmers touted them as anonymous. It has, however, emerged that they are not and that transactions undertaken using altcoins can be traced. Over time with the increased government scrutiny and unwanted invasion by phishers, users now realize that the cryptocurrency world is not as anonymous as most of them were led to believe. A tech startup called, CryptoMixer is changing all this and giving back cryptocurrency enthusiasts their security and privacy. The start-up provides a cryptocurrency mixing platform that obscures your cryptocurrency transactions, making it hard for anyone to trace your dealings. CryptoMixer reintroduces anonymity by allowing online shoppers that pay using cryptocurrency through addresses that remain anonymous when the user is completing transactions. The shoppers, as such, cannot be associated with the various addresses they use. How Does Coin Mixing Work? Coin mixers work by essentially collecting cryptocurrency from the people using cryptocurrency, mixing it with a giant pile of other cryptocurrencies, and then sending them smaller units of cryptocurrency to an address of their preference, with total the amount that you put in minus 1-3%. The 1-3 % is generally taken as a profit by the coin mixing company. This is how they make money. A cryptocurrency mixer (also known as a blender) allows you to spend, store and share cryptocurrencies, without your transactional data becoming public. In short, it makes your financial transactions anonymous in the true sense. It is done by mixing your transactional data with a pool of Bitcoin data. This ensures your data is secure, you have control over your privacy, and no data can be traced back to you, as the link between the sender and the receiver is broken. Story continues Crypto Mixer: The crypto mixing solution CryptoMixer is a unique cryptocurrency mixer/blender that ensures your cryptocurrency becomes untraceable, and no link exists between the stakeholders. They have designed different pools of cryptocurrencies based on their sources, with variable fee percentages. This segmentation and differentiation ensure the clean mixing of the currency. The three pools include Standard Pool, Smart Pool, and Stealth Pool. It uses a 'smart code' to avoid the same currencies from reaching a user on multiple occasions. Features of Smart Mixer Platform Zero Post-Transaction Logs - CryptoMixer platform keeps transaction logs for only as long as it needs them. The longest period that these logs can remain is 24 hours, otherwise, the platform keeps them only for as long as is necessary to complete a transaction. Full Anonymity - The need for complete anonymity is greater in the online space, and it is only second to the information online prowlers seek. Users that mix cryptocurrency on the platform do not even need to input their information. Instead, only the recipient altcoin address is necessary. Customizable Process - Users can set various parameters as they so choose. You, for instance, can choose the amount of cryptocurrency to mix, the commission to pay for the mixing, and the delay period you prefer. The importance of privacy and security while transacting online cannot be stressed enough. It probably is the reason why platforms like CryptoMixer are timely. The advantages it offers hold the possibility of making crypto mainstream. More details about cryptocurrency mixing and the CryptoMixer platform can be gathered through their official website www.cr yptomixer.bz . Media Details: Address: New York, NY 10022. USA (United States of America) Company Email: [email protected] Contact Person: Luke Goldmann Company Website: https://cryptomixer.bz/ SOURCE: CryptoMixer View source version on accesswire.com: https://www.accesswire.com/593851/CryptoMixerbz-Bitcoin-Mixer-for-your-anonymity-in-the-Crypto-World \|\| The Crypto Daily – Movers and Shakers – June 14th, 2020: Bitcoin rose by 0.14% on Saturday. Following a 2.05% gain on Friday, Bitcoin ended the day at $9,480.9. A bearish start to the day saw Bitcoin fall to an early morning intraday low $9,363.6 before making a move. Steering clear of the first major support level at $9,294.87, Bitcoin rallied to an early evening intraday high $9,498.6. Falling short of the first major resistance level at $9,592.87, Bitcoin fell back to the intraday low $9,363.6 before finding support. A late move back through to $9,480 levels delivered the upside, while resistance at $9,500 continued to pin Bitcoin back. The near-term bullish trend remained intact in spite of last Thursday’s sell-off, with Bitcoin holding well above the 23.6% FIB of $8,900. For the bears, Bitcoin would need to slide through the 62% FIB of $6,400 to form a near-term bearish trend. The Rest of the Pack Across the rest of the majors, it was also a mixed day on Saturday. Bitcoin Cash SV, (-0.26%), Cardano’s ADA (-0.52%), and Ripple’s XRP (-0.30%) ended the day in the red. It was a relatively bullish day for the rest of the pack, however. Binance Coin (+1.02%), Monero’s XMR (+1.25%), Stellar’s Lumen (+2.10%), Tezos (+1.14%), and Tron’s TRX (+1.62%) led the way. Bitcoin Cash ABC (+0.69%), EOS (+0.36%), Ethereum (+0.25%), Litecoin (+0.85%) also joined Bitcoin in the green. Through the current week, the crypto total market cap had recovered from a Tuesday low $265.84bn, rising to a Wednesday high $278.33bn before Thursday’s sell-off. The sell-off saw the total market cap slide to a current week low $252.82bn. At the time of writing, the total market cap stood at $263.63bn. In the week, Bitcoin’s dominance slid to a current week low 65.7% before hitting a current week high 66.39% in Thursday’s sell-off. At the time of writing, Bitcoin’s dominance stood at 65.99%. This Morning At the time of writing, Bitcoin was down by 0.27% to $9,455.5. A bearish start to the day saw Bitcoin fall from an early morning high $9,486.0 to a low $9,452.3. Story continues Bitcoin left the major support and resistance levels untested early on. Elsewhere, it was a mixed start to the day. Bitcoin Cash SV and Monero’s XMR bucked the trend early on, with gains of 0.08% and 0.33% respectively. It was a bearish start for the rest of the pack, however. Cardano’s ADA led the way down, with a 0.70% loss at the time of writing. For the Bitcoin Day Ahead Bitcoin would need to avoid sub-$9,448 levels to bring the first major resistance level at $9,531.8 into play. Support from the broader market would be needed, however, for Bitcoin to break out from Saturday’s high $9,498.6. Barring a broad-based crypto rally, the first major resistance level and Saturday’s high $9,498.6 would likely cap any upside. In the event of a crypto rebound, Bitcoin could eye the second major resistance level at $9,582.7 before any pullback. Failure to avoid a fall through the $9,448 pivot level could see Bitcoin hit reverse. A fall back through the morning low $9,452.3 to sub-$9,448 levels would bring the first major support level at $9,396.8 into play. Barring another extended crypto sell-off, however, Bitcoin should steer clear of the second major support level at $9,312.7. This article was originally posted on FX Empire More From FXEMPIRE: Natural Gas Price Forecast – Natural Gas Markets Testing Trendline Again EOS, Ethereum and Ripple’s XRP – Daily Tech Analysis – June 14th, 2020 The Week Ahead – Central Banks, Economic Data, COVID-19, and Brexit in Focus Crude Oil Weekly Price Forecast – Crude Oil Markets Pull Back US Stock Market Overview – Stocks Rebound but Finish Lower for the Week European Equities: A Week in Review – 13/06/20 \|\| The Crypto Daily – Movers and Shakers – June 14th, 2020: Bitcoin rose by 0.14% on Saturday. Following a 2.05% gain on Friday, Bitcoin ended the day at $9,480.9. A bearish start to the day saw Bitcoin fall to an early morning intraday low $9,363.6 before making a move. Steering clear of the first major support level at $9,294.87, Bitcoin rallied to an early evening intraday high $9,498.6. Falling short of the first major resistance level at $9,592.87, Bitcoin fell back to the intraday low $9,363.6 before finding support. A late move back through to $9,480 levels delivered the upside, while resistance at $9,500 continued to pin Bitcoin back. The near-term bullish trend remained intact in spite of last Thursday’s sell-off, with Bitcoin holding well above the 23.6% FIB of $8,900. For the bears, Bitcoin would need to slide through the 62% FIB of $6,400 to form a near-term bearish trend. Across the rest of the majors, it was also a mixed day on Saturday. Bitcoin Cash SV, (-0.26%), Cardano’s ADA (-0.52%), and Ripple’s XRP (-0.30%) ended the day in the red. It was a relatively bullish day for the rest of the pack, however. Binance Coin (+1.02%), Monero’s XMR (+1.25%), Stellar’s Lumen (+2.10%), Tezos (+1.14%), and Tron’s TRX (+1.62%) led the way. Bitcoin Cash ABC (+0.69%), EOS (+0.36%), Ethereum (+0.25%), Litecoin (+0.85%) also joined Bitcoin in the green. Through the current week, the crypto total market cap had recovered from a Tuesday low $265.84bn, rising to a Wednesday high $278.33bn before Thursday’s sell-off. The sell-off saw the total market cap slide to a current week low $252.82bn. At the time of writing, the total market cap stood at $263.63bn. In the week, Bitcoin’s dominance slid to a current week low 65.7% before hitting a current week high 66.39% in Thursday’s sell-off. At the time of writing, Bitcoin’s dominance stood at 65.99%. At the time of writing, Bitcoin was down by 0.27% to $9,455.5. A bearish start to the day saw Bitcoin fall from an early morning high $9,486.0 to a low $9,452.3. Bitcoin left the major support and resistance levels untested early on. Elsewhere, it was a mixed start to the day. Bitcoin Cash SV and Monero’s XMR bucked the trend early on, with gains of 0.08% and 0.33% respectively. It was a bearish start for the rest of the pack, however. Cardano’s ADA led the way down, with a 0.70% loss at the time of writing. Bitcoin would need to avoid sub-$9,448 levels to bring the first major resistance level at $9,531.8 into play. Support from the broader market would be needed, however, for Bitcoin to break out from Saturday’s high $9,498.6. Barring a broad-based crypto rally, the first major resistance level and Saturday’s high $9,498.6 would likely cap any upside. In the event of a crypto rebound, Bitcoin could eye the second major resistance level at $9,582.7 before any pullback. Failure to avoid a fall through the $9,448 pivot level could see Bitcoin hit reverse. A fall back through the morning low $9,452.3 to sub-$9,448 levels would bring the first major support level at $9,396.8 into play. Barring another extended crypto sell-off, however, Bitcoin should steer clear of the second major support level at $9,312.7. Thisarticlewas originally posted on FX Empire • Natural Gas Price Forecast – Natural Gas Markets Testing Trendline Again • EOS, Ethereum and Ripple’s XRP – Daily Tech Analysis – June 14th, 2020 • The Week Ahead – Central Banks, Economic Data, COVID-19, and Brexit in Focus • Crude Oil Weekly Price Forecast – Crude Oil Markets Pull Back • US Stock Market Overview – Stocks Rebound but Finish Lower for the Week • European Equities: A Week in Review – 13/06/20 \|\| H&R Block To Offer New Detroit Pick-Up Tax Service: H&R Block, Inc.(NYSE:HRB) formally announced the launch of a new pick-up service in Detroit, ahead of the July 15 filing deadline, providing clients tax expertise and support at home. What Happened?As of May 29, the IRS reported 133.8 million federal income tax returns received, compared to 143.1 million filed during the same time last year. The addition of the new solution unlocks access to remote tax preparation for individuals worried about travel. “According to a recent H&R Block survey, 58% of Detroit residents are anxious about leaving their homes. Whether clients are immunocompromised, serve in jobs requiring them to self-quarantine or simply remain cautious, H&R Block is here to help,” said Karen Orosco, senior vice president of U.S. retail, H&R Block. Why It's Important:“We’re proud to offer this new service as one more way we are providing our clients with access to the help and expertise they need to get their best tax outcome even during these unprecedented times," said Orosco. In addition to the new service, H&R Block offices in the Detroit area will remain open for in-person tax preparation. To learn about H&R Block’s tax preparation, financial services, and small business solutions, please visithrblock.com. Photo by LinkedIn Sales Navigator from Pexels. See more from Benzinga • Binance Launches Quarterly BTC/USD Futures With Up To 125x Leverage • Michigan-Based Derq Assists Dubai Silicon Oasis Authority With Smart City Solutions • Ally Invest's President On Inclusivity, Democratized Investing: 'Share The Burden' © 2020 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. \|\| H&R Block To Offer New Detroit Pick-Up Tax Service: H&R Block, Inc. (NYSE: HRB ) formally announced the launch of a new pick-up service in Detroit, ahead of the July 15 filing deadline, providing clients tax expertise and support at home. What Happened? As of May 29, the IRS reported 133.8 million federal income tax returns received, compared to 143.1 million filed during the same time last year. The addition of the new solution unlocks access to remote tax preparation for individuals worried about travel. “According to a recent H&R Block survey, 58% of Detroit residents are anxious about leaving their homes. Whether clients are immunocompromised, serve in jobs requiring them to self-quarantine or simply remain cautious, H&R Block is here to help,” said Karen Orosco, senior vice president of U.S. retail, H&R Block. Why It's Important: “We’re proud to offer this new service as one more way we are providing our clients with access to the help and expertise they need to get their best tax outcome even during these unprecedented times," said Orosco. In addition to the new service, H&R Block offices in the Detroit area will remain open for in-person tax preparation. To learn about H&R Block’s tax preparation, financial services, and small business solutions, please visit hrblock.com . Photo by LinkedIn Sales Navigator from Pexels. See more from Benzinga Binance Launches Quarterly BTC/USD Futures With Up To 125x Leverage Michigan-Based Derq Assists Dubai Silicon Oasis Authority With Smart City Solutions Ally Invest's President On Inclusivity, Democratized Investing: 'Share The Burden' © 2020 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. \|\| Flits - First iOS/Android wallet Supporting Decentralized Masternodes and Cold Staking: WAALWIJK, NETHERLANDS / ACCESSWIRE / June 13, 2020 / Released in 2019, Flits Wallet is the latest work from the creators of Klimatas and Blockworks. Flits Wallet App is the first iOS and Android wallet with Decentralized Masternodes and Cold Staking. The main idea behind its development was to make the process of cryptocurrency trading faster and save investors' time. Why Use a Flits Wallet? Apart from being available for both iOS and Android users, Flits wallet provides extra features on top of basic crypto features that makes it the best wallet in the market. These features include: 1. Decentralized Masternodes - Flits App provides an easy way to invest in a masternode. The masternodes are decentralized; hence no one can claim control besides the user. Also, with Flits App, you don't have to buy a full masternode. Instead, you can buy shares in a masternode. 2. Cold Staking - Cold Staking is an easier and safer alternative to regular staking. Systems that accept cold staking allow their users to stake while holding their funds offline. The coins must remain in the cold storage. Otherwise, they won't attract rewards. 3. Trading - Flits App connects to exchanges through which users can buy coins, sell off their rewards, and withdraw their earnings. Benefits of Flits Wallet There are many benefits that you will gain from using Flits App, including: Easy set-up - Setting up a masternode with Flits is an easy process that doesn't need any skills. With just a few clicks and a deposit of collateral amount, you will have the masternode set. Accessibility -Flits allow users to cold stake and perform other functions through their phones. This means users can access their portfolios from anywhere. Complete control of your funds - Since its a decentralized application, there is no central entity involved, and Flits users have total control of their funds. Start with less - Flits allows users who can't afford the required collateral amount to run a masternode to stake their coins and earn block rewards through a Proof of Stake protocol. Story continues Deposit BTC and invest widely - Through Flits application, users can deposit funds in BTC and invest in any of the 73 supported coins within the App. Also, Flits does thorough research to ensure only viable coins are listed on the application, therefore, eliminating scams and unworthy cryptocurrencies. Top-notch security - Security is the number one feature that defines a great application. Flits offer a 2-factor authentication that features passcode and biometrics (fingerprints and face scan). Also, users keep their wallet keys; hence nobody (including Flits team) can have access to your funds. Flits also conduct frequent security audits on the wallet to leave nothing to chance. Conclusion Financial trading has undergone several revolutions over the years to be what it is today. Cryptocurrency trading has joined the wagon at just the right time. Today, there is no doubt that masternodes investments are the next big thing in crypto trading. Many crypto wallets exist in the market today. While some are genuine, the majority are a scam. Among the genuine ones is FlitsApp, the first mobile wallet with Decentralized Masternodes and Cold Staking. FlitsApp leverages the decentralization feature of blockchain to give users total control of their wallets and ensure anonymity and security while transacting. The App which is available for both iOS and Android allows cold staking and nearly instant investments into decentralized masternodes. Contact: Contact Name : Mitchel van Amstel Organization name : Blockworks B.V. Address : Waalwijk, NL Email : [email protected] Phone number : +31 416 44 10 40 Website URL : https://flitsnode.app/ SOURCE: Flits Wallet View source version on accesswire.com: https://www.accesswire.com/593826/Flits--First-iOSAndroid-wallet-Supporting-Decentralized-Masternodes-and-Cold-Staking \|\| Flits - First iOS/Android wallet Supporting Decentralized Masternodes and Cold Staking: WAALWIJK, NETHERLANDS / ACCESSWIRE / June 13, 2020 /Released in 2019,Flits Walletis the latest work from the creators ofKlimatasand Blockworks. Flits Wallet App is the first iOS and Android wallet with Decentralized Masternodes and Cold Staking. The main idea behind its development was to make the process of cryptocurrency trading faster and save investors' time. Why Use a Flits Wallet? Apart from being available for both iOS and Android users,Flits walletprovides extra features on top of basic crypto features that makes it the best wallet in the market. These features include: 1.Decentralized Masternodes- Flits App provides an easy way to invest in a masternode. The masternodes are decentralized; hence no one can claim control besides the user. Also, with Flits App, you don't have to buy a full masternode. Instead, you can buy shares in a masternode. 2.Cold Staking- Cold Staking is an easier and safer alternative to regular staking. Systems that accept cold staking allow their users to stake while holding their funds offline. The coins must remain in the cold storage. Otherwise, they won't attract rewards. 3.Trading- Flits App connects to exchanges through which users can buy coins, sell off their rewards, and withdraw their earnings. Benefits of Flits Wallet There are many benefits that you will gain from using Flits App, including: Easy set-up-Setting up a masternode with Flits is an easy process that doesn't need any skills. With just a few clicks and a deposit of collateral amount, you will have the masternode set. Accessibility-Flits allow users to cold stake and perform other functions through their phones. This means users can access their portfolios from anywhere. Complete control of your funds-Since its a decentralized application, there is no central entity involved, and Flits users have total control of their funds. Start with less- Flits allows users who can't afford the required collateral amount to run a masternode to stake their coins and earn block rewards through aProof of Stakeprotocol. Deposit BTC and invest widely- Through Flits application, users can deposit funds in BTC and invest in any of the 73supported coinswithin the App. Also, Flits does thorough research to ensure only viable coins are listed on the application, therefore, eliminating scams and unworthy cryptocurrencies. Top-notch security- Security is the number one feature that defines a great application. Flits offer a 2-factor authentication that features passcode and biometrics (fingerprints and face scan). Also, users keep their wallet keys; hence nobody (including Flits team) can have access to your funds. Flits also conduct frequent security audits on the wallet to leave nothing to chance. Conclusion Financial trading has undergone several revolutions over the years to be what it is today. Cryptocurrency trading has joined the wagon at just the right time. Today, there is no doubt that masternodes investments are the next big thing in crypto trading. Many crypto wallets exist in the market today. While some are genuine, the majority are a scam. Among the genuine ones is FlitsApp, the first mobile wallet with Decentralized Masternodes and Cold Staking. FlitsApp leverages the decentralization feature of blockchain to give users total control of their wallets and ensure anonymity and security while transacting. The App which is available for bothiOS and Androidallows cold staking and nearly instant investments into decentralized masternodes. Contact: Contact Name: Mitchel van AmstelOrganization name: Blockworks B.V.Address: Waalwijk, NLEmail:[email protected] number: +31 416 44 10 40Website URL:https://flitsnode.app/ SOURCE:Flits Wallet View source version on accesswire.com:https://www.accesswire.com/593826/Flits--First-iOSAndroid-wallet-Supporting-Decentralized-Masternodes-and-Cold-Staking \|\| The Chad Index Versus Doomer Internet Money: The Breakdown Weekly Recap: This week, the wildest, most nonsensical, volatile part of the market wasn’tbitcoin, it was the “Robinhood Rally” in equities. Formore episodesand free early access before our regular 3 p.m. Eastern time releases, subscribe withApple Podcasts,Spotify,Pocketcasts,Google Podcasts,Castbox,Stitcher,RadioPublica,iHeartRadioorRSS. This episode is sponsored byBitstampandCiphertrace. The stock market has long been disconnected from the underlying economy, but much of what happened this week – particularly the pumping of bankrupt company stocks – suggests that something new is afoot. See also:The Revolution Will Be Retweeted: The Breakdown Weekly Recap In this episode, NLW breaks down three long-term trends suggested by the so-called Robinhood Rally, including: • The “insurgency” aspect of a generation of young professionals who are willing to play the financial game rather than have it be played for them • A totally new force in financial media, which could hit like a wrecking ball in one of the stodgiest, traditional media industries • An embrace of a certain type of cynicism or nihilism when it comes to the values of financial markets Monday \|Why War Reporting Is the Right Mental Model for Today’s Media, Feat. Jake Hanrahan • The founder of Popular Front joins NLW for a discussion about protests, media and how the people being covered tend to not reflect divisive politics. Related:The Chad Index Versus Doomer Internet Money: The Breakdown Weekly Recap Tuesday \|What the Stock Market’s ‘Robinhood Rally’ Means for Bitcoin • The largest 50-day rally in stock market history and even shares of bankrupt companies are up more than 100%. What is going on? Wednesday \|A Vision for Digital Property Rights, Feat. Nic Carter • Most people today look at social platforms like any other private company, but what if we saw them as alternative jurisdictions with a new set of property rights? Thursday \|Why the Fed Keeps Denying Its Role in Increasing Inequality • The Federal Reserve expects low inflation, says rates will stay close to zero through 2022 and keeps lying about the role of central banks in increasing inequality. Friday \|Bitcoin Is More Than an Inflation Hedge • While fears of a “great monetary inflation” have driven the recent bitcoin narrative, other aspects like censorship resistance and peaceful protest matter just as much. Formore episodesand free early access before our regular 3 p.m. Eastern time releases, subscribe withApple Podcasts,Spotify,Pocketcasts,Google Podcasts,Castbox,Stitcher,RadioPublica,iHeartRadioorRSS. • Bitcoin Is More Than an Inflation Hedge • Bitcoin News Roundup for June 12, 2020 \|\| The Chad Index Versus Doomer Internet Money: The Breakdown Weekly Recap: This week, the wildest, most nonsensical, volatile part of the market wasnt bitcoin , it was the Robinhood Rally in equities. For more episodes and free early access before our regular 3 p.m. Eastern time releases, subscribe with Apple Podcasts , Spotify , Pocketcasts , Google Podcasts , Castbox , Stitcher , RadioPublica , iHeartRadio or RSS . This episode is sponsored by Bitstamp and Ciphertrace . The stock market has long been disconnected from the underlying economy, but much of what happened this week particularly the pumping of bankrupt company stocks suggests that something new is afoot. See also: The Revolution Will Be Retweeted: The Breakdown Weekly Recap In this episode, NLW breaks down three long-term trends suggested by the so-called Robinhood Rally, including: The insurgency aspect of a generation of young professionals who are willing to play the financial game rather than have it be played for them A totally new force in financial media, which could hit like a wrecking ball in one of the stodgiest, traditional media industries An embrace of a certain type of cynicism or nihilism when it comes to the values of financial markets This week on The Breakdown: Monday \| Why War Reporting Is the Right Mental Model for Todays Media, Feat. Jake Hanrahan The founder of Popular Front joins NLW for a discussion about protests, media and how the people being covered tend to not reflect divisive politics. Related: The Chad Index Versus Doomer Internet Money: The Breakdown Weekly Recap Tuesday \| What the Stock Markets Robinhood Rally Means for Bitcoin The largest 50-day rally in stock market history and even shares of bankrupt companies are up more than 100%. What is going on? Wednesday \| A Vision for Digital Property Rights, Feat. Nic Carter Most people today look at social platforms like any other private company, but what if we saw them as alternative jurisdictions with a new set of property rights? Story continues Thursday \| Why the Fed Keeps Denying Its Role in Increasing Inequality The Federal Reserve expects low inflation, says rates will stay close to zero through 2022 and keeps lying about the role of central banks in increasing inequality. Friday \| Bitcoin Is More Than an Inflation Hedge While fears of a great monetary inflation have driven the recent bitcoin narrative, other aspects like censorship resistance and peaceful protest matter just as much. For more episodes and free early access before our regular 3 p.m. Eastern time releases, subscribe with Apple Podcasts , Spotify , Pocketcasts , Google Podcasts , Castbox , Stitcher , RadioPublica , iHeartRadio or RSS . Related Stories Bitcoin Is More Than an Inflation Hedge Bitcoin News Roundup for June 12, 2020 [Social Media Buzz] None available.	9538.02, 9480.25, 9411.84, 9288.02, 9332.34, 9303.63, 9648.72, 9629.66, 9313.61, 9264.81
Given the historical Bitcoin prices from the last 90 days, predict the next 10 daily closing prices. The historical prices are: 574.32, 575.63, 581.70, 581.31, 586.75, 583.41, 580.18, 577.76, 579.65, 569.95, 573.91, 574.11, 577.50, 575.47, 572.30, 575.54, 598.21, 608.63, 606.59, 610.44, 614.54, 626.32, 622.86, 623.51, 606.72, 608.24, 609.24, 610.68, 607.16, 606.97, 605.98, 609.87, 609.23, 608.31, 597.15, 596.30, 602.84, 602.62, 600.83, 608.04, 606.17, 604.73, 605.69, 609.73, 613.98, 610.89, 612.13, 610.20, 612.51, 613.02, 617.12, 619.11, 616.75, 618.99, 641.07, 636.19, 636.79, 640.38, 638.65, 641.63, 639.19, 637.96, 630.52, 630.86, 632.83, 657.29, 657.07, 653.76, 657.59, 678.30, 688.31, 689.65, 714.48, 701.86, 700.97, 729.79, 740.83, 688.70, 703.23, 703.42, 711.52, 703.13, 709.85, 723.27, 715.53, 716.41, 705.05, 702.03, 705.02, 711.62.	[Bitcoin Technical Analysis for 2016-11-15] Volume: 72038496, RSI (14-day): 58.42, 50-day EMA: 671.32, 200-day EMA: 597.49 [Wider Market Context] Gold Price: 1224.00, Gold RSI: 30.32 Oil Price: 45.81, Oil RSI: 45.88 [Recent News (last 7 days)] REPORT: Trump team's top pick for Treasury secretary is an ex-Goldman Sachs banker: Steven Mnuchin (AP/Evan Vucci) It looks as if President-elect Donald Trump's advisers have a clear top pick for Treasury secretary: ex-Goldman Sachs banker Steven Mnuchin, who served as the national finance chair on Trump's presidential campaign. That's according to Bloomberg's Saleha Mohsin, Kevin Cirilli, and Jennifer Jacobs , who report that Trump's transition team has recommended the banker. Mnuchin spent 17 years with Goldman Sachs. Mnuchin was chief information officer at The Goldman Sachs Group before leaving the firm in 2002. He also worked briefly for George Soros. Mnuchin was seen at Trump Tower on Monday, according to a pool report. When asked why he was there and whether he was interested in the position, he said: "I'm here just helping with the transition this week. A lot of work to do." Goldman Sachs CEO Lloyd Blankfein last week called Mnuchin a "highflier, a very nice guy," and a "smart, smart guy." "He was a very senior guy at a very young age at Goldman Sachs," Blankfein said in an interview with Andrew Ross Sorkin of The New York Times. Blankfein said Mnuchin reported to him when he ran the fixed-income division. "I follow his career, I know what he's done, but I haven’t really engaged with him that much," Blankfein said. "I'm sure he stayed just as smart as he was when he was at Goldman." Another potential candidate is JPMorgan Chase CEO Jamie Dimon. CNBC last week reported that Dimon, a lifelong Democrat, was in the running for the position. NOW WATCH: Ex-Wells Fargo employees reveal how some bankers abused customers More From Business Insider Michael Bloomberg has a plan to shift the conversation on climate change Here's why Trump's win boosted Bitcoin Europe's Trump rally evaporated \|\| REPORT: Trump team's top pick for Treasury secretary is an ex-Goldman Sachs banker: (AP/Evan Vucci) It looks as if President-elect Donald Trump's advisers have a clear top pick for Treasury secretary: ex-Goldman Sachs banker Steven Mnuchin, who served as the national finance chair on Trump's presidential campaign. That'saccording to Bloomberg's Saleha Mohsin, Kevin Cirilli, and Jennifer Jacobs, who report that Trump's transition team has recommended the banker. Mnuchin spent 17 years with Goldman Sachs. Mnuchin was chief information officer at The Goldman Sachs Group before leaving the firm in 2002. He alsoworked brieflyfor George Soros. Mnuchin was seen at Trump Tower on Monday, according to a pool report. When asked why he was there and whether he was interested in the position, he said: "I'm here just helping with the transition this week. A lot of work to do." Goldman Sachs CEO Lloyd Blankfein last week called Mnuchin a "highflier, a very nice guy," and a "smart, smart guy." "He was a very senior guy at a very young age at Goldman Sachs," Blankfein said in an interview with Andrew Ross Sorkin of The New York Times. Blankfein said Mnuchin reported to him when he ran the fixed-income division. "I follow his career, I know what he's done, but I haven’t really engaged with him that much," Blankfein said. "I'm sure he stayed just as smart as he was when he was at Goldman." Another potential candidate is JPMorgan Chase CEO Jamie Dimon.CNBC last week reportedthat Dimon, a lifelong Democrat, was in the running for the position. NOW WATCH:Ex-Wells Fargo employees reveal how some bankers abused customers More From Business Insider • Michael Bloomberg has a plan to shift the conversation on climate change • Here's why Trump's win boosted Bitcoin • Europe's Trump rally evaporated \|\| Flow CARIFTA Games 2017: Exciting on-the-go access, more broadcast hours for Caribbean sports fans: MIAMI, FL--(Marketwired - Nov 11, 2016) - As Caribbean sports fans gear up for theFlow CARIFTA Games 2017, they have something new to be excited about. Flow is once again raising the bar for sports viewership by providing fans with anytime, anywhere access with the new Flow Sports App. For the first time ever, fans of the Flow CARIFTA Games will not have to miss a single stride of the action whether they choose to be in the stadium in Curacao, watch from the comfort of their living rooms or tune in on the go -- they simply need to download the Flow Sports app on theirAndroidoriOSsmart devices, or visit the online microsite atwww.flowsports.cofrom any lap top or tablet device. Flow now in its 2ndyear as theOfficial Broadcast Partner and Sponsorof the Flow CARIFTA Games, is alsoextending the live coverage to six hours each dayto bring fans even more of their favourite sports action. Additionally, the coverage will feature commentary from veteran Caribbean journalists from across the region, includingNadine Liverpool, internationally renowned sports broadcaster and host of Flow Sports Premier Weekly, andDalton Myers, Director of Sports at the University of the West Indies. So, now, track and field fans can have the best seats in the houseandget expert insights just by tuning into Flow Sports. Wendy McDonald, Senior Director Communications -- Consumer Group, Flow said, "We are changing the game in sports viewership in the region, delivering more options and more content than ever before by any provider. This is the essence of what we bring to the Flow CARIFTA Games 2017. We are absolutely delighted to be able to work withThe North American, Central American and Caribbean Athletics Association(NACAC) and to have this opportunity to wow sports fans even while we contribute to the development of our athletes and the sport in general. Our mission is simply connecting communities, transforming lives, and we see our role as lead sponsor of the Flow CARIFTA Games as delivering on that commitment." Commenting on the importance of their partnership with Flow, NACAC President, Victor Lopez said, "The IAAF-NACAC Athletics Association is proud of the invaluable partnership with Flow Sports for the sponsorship and broadcast of the Flow CARIFTA Games throughout the Caribbean." This year, The Flow CARIFTA Games 2017 will be held on Easter Weekend in Curacao and will feature the Caribbean's elite up-and-coming athletes who will compete in various track and field events. Now in its 46thyear, the Flow CARIFTA Games has served as a spring board for many of the Caribbean's athletic stars, includingFlow Brand Ambassadors, two-time Olympian, gold and silver medallist, Kirani James of Grenada, Trinidadian Khalifa St. Fort, who holds the CARIFTA 100m women's record and Jaheel Hyde, Jamaican sprinter. The Flow CARIFTA Games 2017 was launched at a press conference at the Hilton Curacao on November 10th. Flow Curacao Country Manager, Didier Renault, thanked the local organising committee, as well as Mr. Lopez and his team, and added, "As we say here in Curacao, 'Bon Bini!' We're proud to host this huge regional sporting event, and once again show that we're committed to helping develop sports across the Caribbean. With so many young athletes vying to inscribe their names in the Caribbean sports history books, the upcoming Flow CARIFTA Games is set to be intense, electrifying and fun --and you can catch it all onFlow Sports." Tune in to Flow Sports -- The Home of Sports in the Caribbean. Click hereto watch press conference highlights. Watch Showreel here About C&W CommunicationsCWC is a full-service communications and entertainment provider and delivers market-leading video, broadband, telephony and mobile services to consumers in 18 countries. Through its business division, CWC provides data center hosting, domestic and international managed network services, and customized IT service solutions, utilizing cloud technology to serve business and government customers. CWC also operates a state-of-the-art submarine fiber network -- the most extensive in the region. Learn more atwww.cwc.com, or follow C&W onLinkedIn,FacebookorTwitter. About Liberty GlobalLiberty Global is the world's largest international TV and broadband company, with operations in more than 30 countries across Europe, Latin America, and the Caribbean. We invest in the infrastructure that empowers our customers to make the most of the digital revolution. Our scale and commitment to innovation enable us to develop market-leading products delivered through next-generation networks that connect our 29 million customers who subscribe to over 59 million television, broadband, internet, and telephony services. We also serve 11 million mobile subscribers and offer WiFi service across seven million access points. Liberty Global's businesses are comprised of two stocks: the Liberty Global Group (NASDAQ:LBTYA) (NASDAQ:LBTYB) (NASDAQ:LBTYK) for our European operations, and the LiLAC Group (NASDAQ:LILA) and (NASDAQ:LILAK) (OTC PINK:LILAB), which consists of our operations in Latin America and the Caribbean. The Liberty Global Group operates in 12 European countries under the consumer brands Virgin Media, Ziggo, Unitymedia, Telenet and UPC. The LiLAC Group operates in over 20 countries in Latin America and the Caribbean under the consumer brands VTR, Flow, Liberty, Mas Movil and BTC. In addition, the LiLAC Group operates a subsea fiber network throughout the region in over 30 markets. For more information, please visitwww.libertyglobal.com. Image Available:http://www2.marketwire.com/mw/frame_mw?attachid=3079655Image Available:http://www2.marketwire.com/mw/frame_mw?attachid=3079657 \|\| Flow CARIFTA Games 2017: Exciting on-the-go access, more broadcast hours for Caribbean sports fans: MIAMI, FL--(Marketwired - Nov 11, 2016) - As Caribbean sports fans gear up for the Flow CARIFTA Games 2017 , they have something new to be excited about. Flow is once again raising the bar for sports viewership by providing fans with anytime, anywhere access with the new Flow Sports App. For the first time ever, fans of the Flow CARIFTA Games will not have to miss a single stride of the action whether they choose to be in the stadium in Curacao, watch from the comfort of their living rooms or tune in on the go -- they simply need to download the Flow Sports app on their Android or iOS smart devices, or visit the online microsite at www.flowsports.co from any lap top or tablet device. Flow now in its 2 nd year as the Official Broadcast Partner and Sponsor of the Flow CARIFTA Games, is also extending the live coverage to six hours each day to bring fans even more of their favourite sports action. Additionally, the coverage will feature commentary from veteran Caribbean journalists from across the region, including Nadine Liverpool , internationally renowned sports broadcaster and host of Flow Sports Premier Weekly, and Dalton Myers , Director of Sports at the University of the West Indies. So, now, track and field fans can have the best seats in the house and get expert insights just by tuning into Flow Sports. Wendy McDonald, Senior Director Communications -- Consumer Group, Flow said, "We are changing the game in sports viewership in the region, delivering more options and more content than ever before by any provider. This is the essence of what we bring to the Flow CARIFTA Games 2017. We are absolutely delighted to be able to work with The North American, Central American and Caribbean Athletics Association (NACAC) and to have this opportunity to wow sports fans even while we contribute to the development of our athletes and the sport in general. Our mission is simply connecting communities, transforming lives, and we see our role as lead sponsor of the Flow CARIFTA Games as delivering on that commitment." Story continues Commenting on the importance of their partnership with Flow, NACAC President, Victor Lopez said, "The IAAF-NACAC Athletics Association is proud of the invaluable partnership with Flow Sports for the sponsorship and broadcast of the Flow CARIFTA Games throughout the Caribbean." This year, The Flow CARIFTA Games 2017 will be held on Easter Weekend in Curacao and will feature the Caribbean's elite up-and-coming athletes who will compete in various track and field events. Now in its 46 th year, the Flow CARIFTA Games has served as a spring board for many of the Caribbean's athletic stars, including Flow Brand Ambassadors , two-time Olympian, gold and silver medallist, Kirani James of Grenada, Trinidadian Khalifa St. Fort, who holds the CARIFTA 100m women's record and Jaheel Hyde, Jamaican sprinter. The Flow CARIFTA Games 2017 was launched at a press conference at the Hilton Curacao on November 10 th . Flow Curacao Country Manager, Didier Renault, thanked the local organising committee, as well as Mr. Lopez and his team, and added, "As we say here in Curacao, 'Bon Bini!' We're proud to host this huge regional sporting event, and once again show that we're committed to helping develop sports across the Caribbean. With so many young athletes vying to inscribe their names in the Caribbean sports history books, the upcoming Flow CARIFTA Games is set to be intense, electrifying and fun -- and you can catch it all on Flow Sports ." Tune in to Flow Sports -- The Home of Sports in the Caribbean. Click here to watch press conference highlights. Watch Showreel here About C&W Communications CWC is a full-service communications and entertainment provider and delivers market-leading video, broadband, telephony and mobile services to consumers in 18 countries. Through its business division, CWC provides data center hosting, domestic and international managed network services, and customized IT service solutions, utilizing cloud technology to serve business and government customers. CWC also operates a state-of-the-art submarine fiber network -- the most extensive in the region. Learn more at www.cwc.com , or follow C&W on LinkedIn , Facebook or Twitter . About Liberty Global Liberty Global is the world's largest international TV and broadband company, with operations in more than 30 countries across Europe, Latin America, and the Caribbean. We invest in the infrastructure that empowers our customers to make the most of the digital revolution. Our scale and commitment to innovation enable us to develop market-leading products delivered through next-generation networks that connect our 29 million customers who subscribe to over 59 million television, broadband, internet, and telephony services. We also serve 11 million mobile subscribers and offer WiFi service across seven million access points. Liberty Global's businesses are comprised of two stocks: the Liberty Global Group ( NASDAQ : LBTYA ) ( NASDAQ : LBTYB ) ( NASDAQ : LBTYK ) for our European operations, and the LiLAC Group ( NASDAQ : LILA ) and ( NASDAQ : LILAK ) ( OTC PINK : LILAB ), which consists of our operations in Latin America and the Caribbean. The Liberty Global Group operates in 12 European countries under the consumer brands Virgin Media, Ziggo, Unitymedia, Telenet and UPC. The LiLAC Group operates in over 20 countries in Latin America and the Caribbean under the consumer brands VTR, Flow, Liberty, Mas Movil and BTC. In addition, the LiLAC Group operates a subsea fiber network throughout the region in over 30 markets. For more information, please visit www.libertyglobal.com . Image Available: http://www2.marketwire.com/mw/frame_mw?attachid=3079655 Image Available: http://www2.marketwire.com/mw/frame_mw?attachid=3079657 \|\| C&W Networks Wins Fourth Consecutive Best Caribbean Wholesale Carrier Award: PARIS, FRANCE and MIAMI, FL--(Marketwired - Nov 10, 2016) -C&W Networks, a division ofC&W Communications(C&W), one of the largest full service communications and entertainment providers in the Caribbean and Latin America region, now part ofLiberty Global(LiLAC Group), again won theBest CaribbeanWholesale Carrieraward on November 8 at the 12thGlobal Carrier Awards in Paris. The award recognizes C&W Networks' innovation in new service technology, excellence in customer experience and leadership in the wholesale telecoms market across the Caribbean region. The Global Carrier Awards have become the most prestigious awards among the wholesale telecoms industry by celebrating innovation, excellence and vision and setting the benchmark for performance throughout the marketplace. The awards were independently judged by a panel of over 20 judges, which includes leading analysts, industry experts and the senior editorial team ofCapacitymagazine. The judging panel was carefully selected to cover a wide range of market areas and regions and were aided by a new scoring system, which was refined for 2014 to ensure that the shortlisting and winners decisions remained objective and transparent. This year's submissions attracted a record number of over 200 entries. "C&W Networks won the Best Caribbean Wholesale Carrier award at the 2016 Global Carrier Awards in our brand new Paris location. In recognition for increasing revenue and profitability, network reach, scale and reliability this provider of choice in the Pan-Caribbean region boasts a world-class Net Promoter Score of 50% above industry standard," said the Global Carrier Awards organization. "And with its demonstrated success in completing strategic acquisitions, ongoing network expansion and rollout of innovative services this carrier continues to exceed all expectations." "We are elated to be recognized as the Best Caribbean Wholesale Carrier for the fourth time across the region. We are very proud to receive this recognition for our success in a challenging and rapidly evolving marketplace. In anticipation of growing customer demands that rely more and more on advanced technologies, we've greatly expanded our capabilities in new services and network security over the past year -- which the judges recognized tonight. The award highlights the commitment of our teams and their tireless efforts across the region to better serve our carrier clients and their customers and our ongoing commitment towards striving to be the best Caribbean telecoms carrier," said Paul Scott, President of C&W Networks. In selecting C&W Networks as the Best Caribbean Wholesale Carrier winner, the judges recognize that the company operates the largest subsea network across the Pan-Caribbean region, serving over 260 local, regional and international carriers. Its diverse IP backbone, along with its over 38,000 in-country fiber backhaul and local terrestrial networks that are continually expanding throughout the region were also key factors that impressed the selection committee. In addition, the selection committee noted the beneficial impact to the region from C&W Networks that has enabled unmatched scale and reach spanning some 48,000 kilometers of submarine fiber reaching 42 countries. "Throughout 2016, we have been laser focused on finding the best ways to connect, protect, manage and optimize carrier services for our clients and their customers. We are enabling them to capture new revenue, protect profits, and grow their businesses. We are proud to be providing the tools they need to be successful in today's global telecoms market and will continue to deliver greater connectivity, flexibility and scalability across the Caribbean region," said Scott. Click here to view the Global Carrier Awards Judging Panel.Click here to view the list of winners. For more information on the Global Carrier Awards please visithttp://www.capacitymedia.com/Global-Carrier-Awards. About C&W NetworksC&W Networks is a wholly owned subsidiary of C&W Communications and a wholesale telecommunications service provider that offers broadband, IP capacity and a growing portfolio of managed services and integrated solutions to global, regional and local telecom carriers, TV cable companies, Internet Service Providers and Network Integrators. C&W Networks operates the largest subsea multi-ring fibre-optic network throughout the greater Caribbean, Central American and Andean region along with the most comprehensive fully meshed MPLS network in the region. Connecting over 42 countries, the company's fully protected ringed submarine fibre optic network spans more than 48,000km. Cable routes include the Caribbean Optical-ring System (ARCOS-1), Colombia-Florida Express (CFX-1), EC-Link cable system, Fibralink, Maya 1, Eastern Caribbean Fiber Express (ECFS), Taino-Carib, East-West, Cayman-Jamaica Fibre system, Caribbean-Bermuda U.S (CBUS), Americas II, Gemini Bermuda, Pan America (PAN-AM), Antillas 1 and Pacific Caribbean Cable System (PCCS). For more information, visit:www.cwnetworks.com. About C&W CommunicationsC&W is a full service communications and entertainment provider and delivers market-leading video, broadband, telephony and mobile services to consumers in 18 countries. Through its business division, C&W provides data center hosting, domestic and international managed network services, and customized IT service solutions, utilizing cloud technology to serve business and government customers. C&W also operates a state-of-the-art submarine fiber network -- the most extensive in the region. Learn more atwww.cwc.com, or follow C&W onLinkedIn,FacebookorTwitter. About Liberty GlobalLiberty Global is the world's largest international TV and broadband company, with operations in more than 30 countries across Europe, Latin America and the Caribbean. We invest in the infrastructure that empowers our customers to make the most of the digital revolution. Our scale and commitment to innovation enables us to develop market-leading products delivered through next-generation networks that connect our 29 million customers who subscribe to over 60 million television, broadband internet and telephony services. We also serve 10 million mobile subscribers and offer WiFi service across seven million access points. Liberty Global's businesses are comprised of two stocks: the Liberty Global Group (NASDAQ:LBTYA) (NASDAQ:LBTYB) (NASDAQ:LBTYK) for our European operations, and the LiLAC Group (NASDAQ:LILA) (NASDAQ:LILAK) (OTC PINK:LILAB), which consists of our operations in Latin America and the Caribbean. The Liberty Global Group operates in 12 European countries under the consumer brands Virgin Media, Ziggo, Unitymedia, Telenet and UPC. The LiLAC Group operates in over 20 countries in Latin America and the Caribbean under the consumer brands VTR, Flow, Liberty, Mas Movil and BTC. In addition, the LiLAC Group operates a subsea fiber network throughout the region in over 30 markets. For more information, please visitwww.libertyglobal.com. Image Available:http://www2.marketwire.com/mw/frame_mw?attachid=3079140Image Available:http://www2.marketwire.com/mw/frame_mw?attachid=3079139 \|\| C&W Networks Wins Fourth Consecutive Best Caribbean Wholesale Carrier Award: PARIS, FRANCE and MIAMI, FL--(Marketwired - Nov 10, 2016) - C&W Networks , a division of C&W Communications (C&W), one of the largest full service communications and entertainment providers in the Caribbean and Latin America region, now part of Liberty Global (LiLAC Group), again won the Best Caribbean Wholesale Carrier award on November 8 at the 12 th Global Carrier Awards in Paris. The award recognizes C&W Networks' innovation in new service technology, excellence in customer experience and leadership in the wholesale telecoms market across the Caribbean region. The Global Carrier Awards have become the most prestigious awards among the wholesale telecoms industry by celebrating innovation, excellence and vision and setting the benchmark for performance throughout the marketplace. The awards were independently judged by a panel of over 20 judges, which includes leading analysts, industry experts and the senior editorial team of Capacity magazine. The judging panel was carefully selected to cover a wide range of market areas and regions and were aided by a new scoring system, which was refined for 2014 to ensure that the shortlisting and winners decisions remained objective and transparent. This year's submissions attracted a record number of over 200 entries. "C&W Networks won the Best Caribbean Wholesale Carrier award at the 2016 Global Carrier Awards in our brand new Paris location. In recognition for increasing revenue and profitability, network reach, scale and reliability this provider of choice in the Pan-Caribbean region boasts a world-class Net Promoter Score of 50% above industry standard," said the Global Carrier Awards organization. "And with its demonstrated success in completing strategic acquisitions, ongoing network expansion and rollout of innovative services this carrier continues to exceed all expectations." "We are elated to be recognized as the Best Caribbean Wholesale Carrier for the fourth time across the region. We are very proud to receive this recognition for our success in a challenging and rapidly evolving marketplace. In anticipation of growing customer demands that rely more and more on advanced technologies, we've greatly expanded our capabilities in new services and network security over the past year -- which the judges recognized tonight. The award highlights the commitment of our teams and their tireless efforts across the region to better serve our carrier clients and their customers and our ongoing commitment towards striving to be the best Caribbean telecoms carrier," said Paul Scott, President of C&W Networks. Story continues In selecting C&W Networks as the Best Caribbean Wholesale Carrier winner, the judges recognize that the company operates the largest subsea network across the Pan-Caribbean region, serving over 260 local, regional and international carriers. Its diverse IP backbone, along with its over 38,000 in-country fiber backhaul and local terrestrial networks that are continually expanding throughout the region were also key factors that impressed the selection committee. In addition, the selection committee noted the beneficial impact to the region from C&W Networks that has enabled unmatched scale and reach spanning some 48,000 kilometers of submarine fiber reaching 42 countries. "Throughout 2016, we have been laser focused on finding the best ways to connect, protect, manage and optimize carrier services for our clients and their customers. We are enabling them to capture new revenue, protect profits, and grow their businesses. We are proud to be providing the tools they need to be successful in today's global telecoms market and will continue to deliver greater connectivity, flexibility and scalability across the Caribbean region," said Scott. Click here to view the Global Carrier Awards Judging Panel . Click here to view the list of winners . For more information on the Global Carrier Awards please visit http://www.capacitymedia.com/Global-Carrier-Awards . About C&W Networks C&W Networks is a wholly owned subsidiary of C&W Communications and a wholesale telecommunications service provider that offers broadband, IP capacity and a growing portfolio of managed services and integrated solutions to global, regional and local telecom carriers, TV cable companies, Internet Service Providers and Network Integrators. C&W Networks operates the largest subsea multi-ring fibre-optic network throughout the greater Caribbean, Central American and Andean region along with the most comprehensive fully meshed MPLS network in the region. Connecting over 42 countries, the company's fully protected ringed submarine fibre optic network spans more than 48,000km. Cable routes include the Caribbean Optical-ring System (ARCOS-1), Colombia-Florida Express (CFX-1), EC-Link cable system, Fibralink, Maya 1, Eastern Caribbean Fiber Express (ECFS), Taino-Carib, East-West, Cayman-Jamaica Fibre system, Caribbean-Bermuda U.S (CBUS), Americas II, Gemini Bermuda, Pan America (PAN-AM), Antillas 1 and Pacific Caribbean Cable System (PCCS). For more information, visit: www.cwnetworks.com . About C&W Communications C&W is a full service communications and entertainment provider and delivers market-leading video, broadband, telephony and mobile services to consumers in 18 countries. Through its business division, C&W provides data center hosting, domestic and international managed network services, and customized IT service solutions, utilizing cloud technology to serve business and government customers. C&W also operates a state-of-the-art submarine fiber network -- the most extensive in the region. Learn more at www.cwc.com , or follow C&W on LinkedIn , Facebook or Twitter . About Liberty Global Liberty Global is the world's largest international TV and broadband company, with operations in more than 30 countries across Europe, Latin America and the Caribbean. We invest in the infrastructure that empowers our customers to make the most of the digital revolution. Our scale and commitment to innovation enables us to develop market-leading products delivered through next-generation networks that connect our 29 million customers who subscribe to over 60 million television, broadband internet and telephony services. We also serve 10 million mobile subscribers and offer WiFi service across seven million access points. Liberty Global's businesses are comprised of two stocks: the Liberty Global Group ( NASDAQ : LBTYA ) ( NASDAQ : LBTYB ) ( NASDAQ : LBTYK ) for our European operations, and the LiLAC Group ( NASDAQ : LILA ) ( NASDAQ : LILAK ) ( OTC PINK : LILAB ), which consists of our operations in Latin America and the Caribbean. The Liberty Global Group operates in 12 European countries under the consumer brands Virgin Media, Ziggo, Unitymedia, Telenet and UPC. The LiLAC Group operates in over 20 countries in Latin America and the Caribbean under the consumer brands VTR, Flow, Liberty, Mas Movil and BTC. In addition, the LiLAC Group operates a subsea fiber network throughout the region in over 30 markets. For more information, please visit www.libertyglobal.com . Image Available: http://www2.marketwire.com/mw/frame_mw?attachid=3079140 Image Available: http://www2.marketwire.com/mw/frame_mw?attachid=3079139 \|\| The 'failure' of election polling was about 3 key things: Before voting began on Election Day, nearly every major poll was predicting a Hillary Clinton win by 2-4 percentage points. When the smoke cleared Wednesday morning, Donald Trump had won. In the wake of Trumps surprise win, arguably the biggest fascination has been the failure of the polls. Politico asked, How did everyone get it so wrong? Fusion asked how it went so, so, so wrong? Harvard Business Review wrote that pollsters were completely and utterly wrong. Yes, the polling was wrongbut the reasons why are numerous, and nuanced, and will take a long time to fully parse and understand. In addition, it wasnt just the polls that went wrong, but also the medias interpretation of the polls. 1. Polls did not fully account for the Shy Trump Voter One of the biggest theories as to what the polls missed was the idea of shy Trump voters who didnt want to say when polled that they were planning to vote for Trump, but always knew. White women, in particular, proved to be a surprise: 53% of them voted for Trump overall, led by those without a college degree, who went for Trump by a 2-1 margin. White women with a college degree went for Clinton, but only barely, by six percentage points. Theres your shy Trump vote, tweeted Kristen Soltis Anderson , a pollster at Echelon Insights. Anderson later added that a bigger problem than secret Trump voters was a phony mirage of a Clinton vote. Trump got fewer votes than McCain did in 2008 and Romney did in 2012 and won anyway, because too many Democrats didnt vote. Indeed, polling also fails to account for turnout, which was the lowest overall it has been since 2000. (Latino turnout was up from 2012 and skewed toward Clinton, but not by enough to beat Trump.) All non-white ethnic groups went for Clinton, as did millennialsbut not enough of them voted. As Harvard Business Review points out, People tend to say theyre going to vote even when they wont the failure of a complex likely voter model is why Gallup got out of the election forecasting business. Story continues 2. Polling methods need to change As much as big data (and the technology to sift through it) has advanced, our methods of gathering data are still dated. Most of the national polls are still done by landline telephone. And that has been a problem for over a decade now. In 2003, Gallup wrote a post about the falling response rates in polls. If you start with a target sample size of 1,000 households, Gallup wrote, at least 200 households fall out because they are businesses or non-working numbers. Of the 800 left, another 200 may be unreachable in the time frame allocated by the researcher household members at these numbers may use caller ID or other screening devices and refuse to answer. Now youre down to 600, of which 200 more people may pick up the phone but refuse to participate in the poll. Suddenly, the sample size has shrunk from 1,000 to a mere 400 households. Declining to pick up the phone, or declining to participate in the poll, may have been a particular problem with this election polling. The shrinking sample size is a significant problem. As pollster Anderson tweeted , the only way you can bring down margin of error is to raise sample size. Thats not easily done. In an interview with Bloomberg , Iowa pollster J. Ann Selzer pointed to the continuing barrier of the lack of landlines, the erosion of landlines as a particular problem this cycle. Bloomberg wrote it in October : Your mobile phone is killing the polling industry. And Matthew Nisbet at The Breakthrough noted back in 2012, Other under-reported sources of error also factor into a polls accuracy, including the greater reliance on cell phones. Online polling is a newer method, but has its own problems. Trump campaign manager Kellyanne Conway said back in August , after a Trump dip in the polls, that the candidate performs consistently better in online polling where a human being is not talking to another human being about what he or she may do in the elections. The Washington Post pointed out that this wasnt the case overallon average, Trump wasnt doing better in online polls than in telephone polls. However, a Morning Consult post from Nov. 3 (with nearly the now-suspect headline, Yes, there are shy Trump voters. No, they wont swing the election) pointed out that Trump was doing 1% better in online polls than phone polls, a difference small enough to be dismissed. But here was the key line in the Morning Consult post: Trumps edge over Clinton online instead of in phone polling is especially pronounced among people with a college degree or people who make more than $50,000 more-educated voters were notably less likely to say they were supporting Trump during a phone poll than in an online survey. That was the exact slice of voters that went for Trump more than anyone expected. So it isnt black-and-white whether phone or online polls are better, and it isnt clear that phone polls should die; but it is clear that methods of polling need to evolve and improve, and that the best route to get as many data sets as possible is a combination of different methods. 3. The bigger failure was interpretation of the polls After an initial immediate backlash to the polls, a newer narrative is already emerging: the polls didnt fail as terribly as everyone is saying they did. Many are pointing out that Clinton looks likely to win the popular vote (although barely, and by a smaller margin than Gore won it in 2000). If Clinton does win the popular vote by around one percentage point, then polls that showed Clinton winning by two or three points were only one or two points inflated. Moreover, polls come with a margin of error that in many cases did cover the eventual difference. Now that dust has settled, I'm going back and comparing poll avgs to final results. In most places they were "off" within margin of error Kristen S Anderson (@KSoltisAnderson) November 10, 2016 The problem is that in a 140-character media landscape, margin of error is often left out, or squeezed into posts and articles as an asterisk. The election polls were actually off by less than Brexit polls were off. And Nate Silver of FiveThirtyEight pointed out on Thursday morning that this years polls were in fact more accurate than in 2012. That year, polls generally predicted a slim Obama win margin of 1 percentage point, and he won by 4 points. This time, the polls gave Clinton a margin of 3-4 points, and she looks likely to win the popular vote by 1 or 2. National polls will wind up being more accurate than they were in 2012: 2012: Obama up 1, won by 4 2014: Clinton up 3-4, will win by 1-2 Nate Silver (@NateSilver538) November 9, 2016 Of course, that defense wont exactly quell outrage over the polling (just look at the replies to Silvers tweet), because the polls in 2012 didnt call the wrong winner. Theres a big difference between Obama winning by a larger margin than polls said hed win by, and Trump winning when polls said Clinton would win. And to be sure, a fair retort to Silver and others claiming that the polls werent that wrong is that the result here was binary: polls could either predict the right winner or the wrong winner. Almost all of them predicted the wrong winner. Polls are estimates. They are a projection of what appears likely to happen, within a margin of error. But we take them too literally. As Fairleigh Dickinson University professor Peter Woolley told Bloomberg , We tend to over-report the accuracy of the poll, and tend to forget very quickly that its an estimate within a range. The biggest problem with the polls this time around, then, wasnt actually the polls, but our interpretation of them. Because the vast majority of the polls (all of them but two, from USC/LA Times and IBD/TIPP) had Clinton winning, the media and the public counted on a Clinton win, ignoring the fact that most polls had her winning only slightly, and many had a margin of error that allowed for the opposite result. The volume and noise drowned out nuance. In a September article in The Atlantic (appropriately headlined, Taking Trump seriously), Salena Zito wrote of Trump, The press takes him literally, but not seriously; his supporters take him seriously, but not literally. The media spent time picking over everything Trump said as though he were serious, when he often wasnt, and didnt take him seriously as a legitimate threat to Clinton; his voters didnt worry too much about each individual shocking sound bite, but took him seriously as a candidate. In a column published after Trumps victory, Maureen Dowd of The New York Times pointed to Zitos line as a prescient one, and it truly wasit describes not just the result of the election, but the problem with how the media embraced the polls. Pundits and the public took the polls literally. Many are now asking whether polls are even useful if they can be so wrong. Does the Trump surprise win kill the polling industry? Hardly. Polling isnt going anywhere, but the methods need to improve, and we must temper our embrace of the predictions they yield. They are only that: predictions. Daniel Roberts is a writer at Yahoo Finance, covering sports business and technology. Follow him on Twitter at @ readDanwrite . Read more: Trump trounced Clinton in his use of Facebook video Facebook and Twitter played very different roles in the 2016 election Bitcoin price flies after Trump is elected What it was like to listen to Trump and Clinton debate on the radio \|\| The 'failure' of election polling was about 3 key things: Before voting began on Election Day, nearly every major poll was predicting a Hillary Clinton win by 2-4 percentage points. When the smoke cleared Wednesday morning, Donald Trump had won. In the wake of Trump’s surprise win, arguably the biggest fascination has been the failure of the polls.Politicoasked, “How did everyone get it so wrong?”Fusionasked how it went “so, so, so wrong?”Harvard Business Reviewwrote that pollsters were “completely and utterly wrong.” Yes, the polling was wrong—but the reasons why are numerous, and nuanced, and will take a long time to fully parse and understand. In addition, it wasn’t just the polls that went wrong, but also the media’s interpretation of the polls. One of the biggest theories as to what the polls missed was the idea of “shy Trump voters” who didn’t want to say when polled that they were planning to vote for Trump, but always knew. White women, in particular, proved to be a surprise: 53% of them voted for Trump overall, led by those without a college degree, who went for Trump by a 2-1 margin. White women with a college degree went for Clinton, but only barely, by six percentage points. “There’s your shy Trump vote,”tweeted Kristen Soltis Anderson, a pollster at Echelon Insights. Andersonlater addedthat a bigger problem than secret Trump voters was “a phony mirage of a Clinton vote.” Trump got fewer votes than McCain did in 2008 and Romney did in 2012 and won anyway, because too many Democrats didn’t vote. Indeed, polling also fails to account for turnout, which was the lowest overall it has been since 2000. (Latino turnout was up from 2012 and skewed toward Clinton, but not by enough to beat Trump.) All non-white ethnic groups went for Clinton, as did millennials—but not enough of them voted. AsHarvard Business Reviewpoints out, “People tend to say they’re going to vote even when they won’t… the failure of a complex likely voter model is why Gallup got out of the election forecasting business.” As much as big data (and the technology to sift through it) has advanced, our methods of gathering data are still dated. Most of the national polls are still done by landline telephone. And that has been a problem for over a decade now. In 2003, Gallup wrote a post about thefalling response ratesin polls. If you start with a target sample size of 1,000 households, Gallup wrote, at least 200 households fall out because they are businesses or non-working numbers. Of the 800 left, another 200 “may be unreachable in the time frame allocated by the researcher… household members at these numbers may use caller ID or other screening devices and refuse to answer.” Now you’re down to 600, of which 200 more people may pick up the phone but refuse to participate in the poll. Suddenly, the sample size has shrunk from 1,000 to a mere 400 households. Declining to pick up the phone, or declining to participate in the poll, may have been a particular problem with this election polling. The shrinking sample size is a significant problem. As pollster Andersontweeted, the “only way you can bring down margin of error is to raise sample size.” That’s not easily done. In an interview withBloomberg, Iowa pollster J. Ann Selzer pointed to “the continuing barrier of the lack of landlines, the erosion of landlines” as a particular problem this cycle. Bloombergwrote it in October: “Your mobile phone is killing the polling industry.” And Matthew Nisbet atThe Breakthroughnoted back in 2012, “Other under-reported sources of error also factor into a poll’s accuracy, including the greater reliance on cell phones.” Online polling is a newer method, but has its own problems. Trump campaign managerKellyanne Conway said back in August, after a Trump dip in the polls, that the candidate “performs consistently better in online polling where a human being is not talking to another human being about what he or she may do in the elections.” TheWashington Postpointed out that this wasn’t the case overall—on average, Trump wasn’t doing better in online polls than in telephone polls. However, a Morning Consult post from Nov. 3 (with nearly the now-suspect headline, “Yes, there are shy Trump voters. No, they won’t swing the election”) pointed out that Trump was doing 1% better in online polls than phone polls, a difference small enough to be dismissed. But here was the key line in the Morning Consult post: “Trump’s edge over Clinton online instead of in phone polling is especially pronounced among people with a college degree or people who make more than $50,000… more-educated voters were notably less likely to say they were supporting Trump during a phone poll than in an online survey.” That was the exact slice of voters that went for Trump more than anyone expected. So it isn’t black-and-white whether phone or online polls are better, and it isn’t clear that phone polls should die; but it is clear that methods of polling need to evolve and improve, and that the best route to get as many data sets as possible is a combination of different methods. After an initial immediate backlash to the polls, a newer narrative is already emerging: the polls didn’t fail as terribly as everyone is saying they did. Many are pointing out that Clinton looks likely to win the popular vote (although barely, and by a smaller margin than Gore won it in 2000). If Clinton does win the popular vote by around one percentage point, then polls that showed Clinton winning by two or three points were only one or two points inflated. Moreover, polls come with a margin of error that in many cases did cover the eventual difference. The problem is that in a 140-character media landscape, margin of error is often left out, or squeezed into posts and articles as an asterisk. The election polls were actually off by less than Brexit polls were off. And Nate Silver of FiveThirtyEight pointed out on Thursday morning that this year’s polls were in fact more accurate than in 2012. That year, polls generally predicted a slim Obama win margin of 1 percentage point, and he won by 4 points. This time, the polls gave Clinton a margin of 3-4 points, and she looks likely to win the popular vote by 1 or 2. Of course, that defense won’t exactly quell outrage over the polling (just look at the replies to Silver’s tweet), because the polls in 2012 didn’t call the wrong winner. There’s a big difference between Obama winning by a larger margin than polls said he’d win by, and Trump winning when polls said Clinton would win. And to be sure, a fair retort to Silver and others claiming that the polls weren’tthatwrong is that the result here was binary: polls could either predict the right winner or the wrong winner. Almost all of them predicted the wrong winner. Polls are estimates. They are aprojectionof what appears likely to happen, within a margin of error. But we take them too literally. As Fairleigh Dickinson University professor Peter Woolleytold Bloomberg, “We tend to over-report the accuracy of the poll, and tend to forget very quickly that it’s an estimate within a range.” The biggest problem with the polls this time around, then, wasn’t actually the polls, but our interpretation of them. Because the vast majority of the polls (all of them but two, from USC/LA Times and IBD/TIPP) had Clinton winning, the media and the public counted on a Clinton win, ignoring the fact that most polls had her winning only slightly, and many had a margin of error that allowed for the opposite result. The volume and noise drowned out nuance. In a September article inThe Atlantic(appropriately headlined, “Taking Trump seriously”), Salena Zito wrote of Trump, “The press takes him literally, but not seriously; his supporters take him seriously, but not literally.” The media spent time picking over everything Trump said as though he were serious, when he often wasn’t, and didn’t take him seriously as a legitimate threat to Clinton; his voters didn’t worry too much about each individual shocking sound bite, but took him seriously as a candidate. In a column published after Trump’s victory,Maureen Dowdof The New York Times pointed to Zito’s line as a “prescient” one, and it truly was—it describes not just the result of the election, but the problem with how the media embraced the polls. Pundits – and the public – took the polls literally. Many are now asking whether polls are even useful if they can be so wrong. Does the Trump surprise win kill the polling industry? Hardly. Polling isn’t going anywhere, but the methods need to improve, and we must temper our embrace of the predictions they yield. They are only that: predictions. — Daniel Roberts is a writer at Yahoo Finance, covering sports business and technology. Follow him on Twitter at @readDanwrite. Read more: Trump ‘trounced’ Clinton in his use of Facebook video Facebook and Twitter played very different roles in the 2016 election Bitcoin price flies after Trump is elected What it was like to listen to Trump and Clinton debate on the radio \|\| Here's what a Trump presidency means for the payments industry: (BII)This story was delivered to BI Intelligence "Payments Briefing" subscribers. To learn more and subscribe, pleaseclick here. After Donald Trump unexpectedly clinched the US presidency earlyWednesday, the uncertainty rippling through the world could extend to the payments industry in a few key ways. A Trump presidency could limit one of US remittance firms’ largest drivers of business. • Trump at one point threatened to cut off remittance send from the US to Mexico.Back in April, theWashington Postreceived a memo regarding Trump’s plans to fund his proposed 1,000-mile border wall between the US and Mexico. In the memo, Trump noted that he planned to force Mexico to pay for the wall by invoking the US Patriot Act to cut off portions of the flow of money between the US and Mexico until Mexico made a one-time $5 billion-$10 billion payment. That monetary flow would likely include remittances. • That could drastically curtail the operations of US remittance firms.Mexico is the largest receive destination for US remittances, cashing $25 billion in 2015, according to theWorld Bank. The strength of that corridor is pushing firms to double down on Mexico — for instance, Western Union recently nearly doubled the size of its retail network in the country, and MoneyGram unveiled a product in partnership with Walmart to make it easier and less expensive to send money from the US to Mexico. Cutting off access to the corridor, even temporarily, could drastically change the trajectory for these companies. Trump's victory could also impact two key categories of transaction volume. • Domestic spend:The election's results will likely bring about economic uncertainty to US markets, which could affect how businesses and consumers spend. An increase in economic uncertainty is often accompanied by a decrease in consumer confidence. This, in turn, may lead to businesses and citizens mitigating any risk of a potential economic downturn by implementing safeguards such as hiring freezes or holding more in savings rather than spending. A reduction in spending would likely have a negative impact on sales for all the major players in the payments ecosystem, including but not limited to credit card companies,payment gateways, retailers, and even banks. • Cross-border spend:Throughout his candidacy, Trump emphasized bringing manufacturing back to America, specifically taking aim at firms like Apple to build its products in the US rather than China. If Donald Trump pushes isolationist trade policies and issues tougher manufacturing restrictions, there could be a huge shift in how both consumers and businesses make international transactions. There would likely be a major decrease in international spending as more consumers are either unable to make transactions due to restrictions or unwilling to pay any extra fees. Regardless of how Trump's presidency unfolds, the payments ecosystem will continue to grow and change. Evan Bakker and John Heggestuen, senior analysts atBI Intelligence, have compileda detailed report on the payments ecosystemthat drills into the industry to explain how a broad range of transactions are processed, including prepaid and store cards, as well as revealing which types of companies are in the best and worst position to capitalize on the latest industry trends. Here are some key takeaways from the report: • 2016 will be a watershed year for the payments industry. Payments companies are improving security, expanding their mobile offerings, and building commerce capabilities that will give consumers a more compelling reason to make purchases using digital devices. • Payments is an extremely complex industry. To understand the next big digital opportunity lies, it's critical to understand how the traditional credit- and debit-processing chain works and what roles acquirers, processors, issuing banks, card networks, independent sales organizations, gateways, and software and hardware providers play. • Alternative technologies could disrupt the processing ecosystem. Devices ranging from refrigerators to smartwatches now feature payment capabilities, which will spur changes in consumer payment behaviors. Likewise, blockchain technology, the protocol that underlies Bitcoin, could one day change how consumer card payments are verified. In full, the report: • Uncovers the key themes and trends affecting the payments industry in 2016 and beyond. • Gives a detailed description of the stakeholders involved in a payment transaction, along with hardware and software providers. • Offers diagrams and infographics explaining how card transactions are processed and which players are involved in each step. • Provides charts on our latest forecasts, key company growth, survey results, and more. • Analyzes the alternative technologies, including blockchain, which could further disrupt the ecosystem. To get your copy of this invaluable guide, choose one of these options: 1. Subscribe to an ALL-ACCESS Membership with BI Intelligence and gain immediate access to this report AND over 100 other expertly researched deep-dive reports, subscriptions to all of our daily newsletters, and much more. >>START A MEMBERSHIP 2. Purchase the report and download it immediately from our research store. >>BUY THE REPORT The choice is yours. But however you decide to acquire this report, you’ve given yourself a powerful advantage in your understanding of the payments ecosystem. More From Business Insider • You won’t recognize the new world of digital payments without this report • THE CONNECTED DEVICE PAYMENTS REPORT: Market opportunities, top stakeholders, and new use cases for the next frontier in payments • Future of Payments: Four Trends to Know in Payment Processing \|\| Here's what a Trump presidency means for the payments industry: Remittances (BII) This story was delivered to BI Intelligence " Payments Briefing " subscribers. To learn more and subscribe, please click here . After Donald Trump unexpectedly clinched the US presidency early Wednesday , the uncertainty rippling through the world could extend to the payments industry in a few key ways. A Trump presidency could limit one of US remittance firms’ largest drivers of business. Trump at one point threatened to cut off remittance send from the US to Mexico. Back in April, the Washington Post received a memo regarding Trump’s plans to fund his proposed 1,000-mile border wall between the US and Mexico. In the memo, Trump noted that he planned to force Mexico to pay for the wall by invoking the US Patriot Act to cut off portions of the flow of money between the US and Mexico until Mexico made a one-time $5 billion-$10 billion payment. That monetary flow would likely include remittances. That could drastically curtail the operations of US remittance firms. Mexico is the largest receive destination for US remittances, cashing $25 billion in 2015, according to the World Bank . The strength of that corridor is pushing firms to double down on Mexico — for instance, Western Union recently nearly doubled the size of its retail network in the country, and MoneyGram unveiled a product in partnership with Walmart to make it easier and less expensive to send money from the US to Mexico. Cutting off access to the corridor, even temporarily, could drastically change the trajectory for these companies. Trump's victory could also impact two key categories of transaction volume. Domestic spend: The election's results will likely bring about economic uncertainty to US markets, which could affect how businesses and consumers spend. An increase in economic uncertainty is often accompanied by a decrease in consumer confidence. This, in turn, may lead to businesses and citizens mitigating any risk of a potential economic downturn by implementing safeguards such as hiring freezes or holding more in savings rather than spending. A reduction in spending would likely have a negative impact on sales for all the major players in the payments ecosystem, including but not limited to credit card companies, payment gateways , retailers, and even banks. Cross-border spend: Throughout his candidacy, Trump emphasized bringing manufacturing back to America, specifically taking aim at firms like Apple to build its products in the US rather than China. If Donald Trump pushes isolationist trade policies and issues tougher manufacturing restrictions, there could be a huge shift in how both consumers and businesses make international transactions. There would likely be a major decrease in international spending as more consumers are either unable to make transactions due to restrictions or unwilling to pay any extra fees. Story continues Regardless of how Trump's presidency unfolds, the payments ecosystem will continue to grow and change. Evan Bakker and John Heggestuen, senior analysts at BI Intelligence , have compiled a detailed report on the payments ecosystem that drills into the industry to explain how a broad range of transactions are processed, including prepaid and store cards, as well as revealing which types of companies are in the best and worst position to capitalize on the latest industry trends. Here are some key takeaways from the report: 2016 will be a watershed year for the payments industry. Payments companies are improving security, expanding their mobile offerings, and building commerce capabilities that will give consumers a more compelling reason to make purchases using digital devices. Payments is an extremely complex industry. To understand the next big digital opportunity lies, it's critical to understand how the traditional credit- and debit-processing chain works and what roles acquirers, processors, issuing banks, card networks, independent sales organizations, gateways, and software and hardware providers play. Alternative technologies could disrupt the processing ecosystem. Devices ranging from refrigerators to smartwatches now feature payment capabilities, which will spur changes in consumer payment behaviors. Likewise, blockchain technology, the protocol that underlies Bitcoin, could one day change how consumer card payments are verified. In full, the report: Uncovers the key themes and trends affecting the payments industry in 2016 and beyond. Gives a detailed description of the stakeholders involved in a payment transaction, along with hardware and software providers. Offers diagrams and infographics explaining how card transactions are processed and which players are involved in each step. Provides charts on our latest forecasts, key company growth, survey results, and more. Analyzes the alternative technologies, including blockchain, which could further disrupt the ecosystem. To get your copy of this invaluable guide, choose one of these options: Subscribe to an ALL-ACCESS Membership with BI Intelligence and gain immediate access to this report AND over 100 other expertly researched deep-dive reports, subscriptions to all of our daily newsletters, and much more. >> START A MEMBERSHIP Purchase the report and download it immediately from our research store. >> BUY THE REPORT The choice is yours. But however you decide to acquire this report, you’ve given yourself a powerful advantage in your understanding of the payments ecosystem. More From Business Insider You won’t recognize the new world of digital payments without this report THE CONNECTED DEVICE PAYMENTS REPORT: Market opportunities, top stakeholders, and new use cases for the next frontier in payments Future of Payments: Four Trends to Know in Payment Processing \|\| UFOMiners Boasts High-Quality Miners with Competitive Prices: LAS VEGAS, NV / ACCESSWIRE / November 10, 2016 /UFOMiners LLC is striving to keep ahead of the competition. Providing first-in-classBitcoin and Litecoinmining hardware, this young company not only guarantees high-quality products, but it also promises affordable pricing, mix-and-match consumer-friendly promotions and free international shipping. UFOMiners focuses on three main areas: developing crypto hardware, creating blockchain-based technologies and delivering remote access service. The company's product offering now includes four powerful, cost-effectivecryptocurrency miners, each with optimal hashing speeds specifically designed for Bitcoin and Litecoin mining. All hardware goes through rigorous testing before it reaches the client and comes with a 5-year warranty. What sets the company apart, is its growing team of experts and its philosophy of offering high-performance technologies at low costs. "We're a rapidly growing team of specialists who is extremely passionate about what we do. Our primary mission is to make high-techcryptocurrency miningavailable to a wide range of clients and offer them innovative solutions that are profitable," a spokesperson for UFOMiners explains. UFOMiners is a group of young and ambitious enthusiasts with top-notch experience in hardware development, computer programming, engineering and management. Having in-house experts allows the company to produce key hardware components on site, which eliminates third-party expenditures. With a recent launch of a promotional deal, UFOMiners demonstrates its commitment to making high-quality cryptocurrency mining economical and readily available. "Our new promotional offer allows customers to mix and match units, according to theirBitcoinor Litecoin preferences. As long as they buy three miners in one purchase, they'll receive a fourth one for free, no matter what the combination," say a company spokesman. To save their customers, even more, money, UFOMiners is also covering the shipping costs, international destination included. Customers can conveniently order on the company website. Company Profile UFOMiners was founded in 2014 by XX. It all began with a vision to develop hardware equipment for mining scrypt cryptocurrencies, a project that later expanded to the development of Bitcoin miner. This Las Vegas-based firm is now a rapidly growing provider of cryptocurrency mining hardware and blockchain-based technologies. For more information visit:www.ufominers.com SOURCE:UFOMiners \|\| UFOMiners Boasts High-Quality Miners with Competitive Prices: LAS VEGAS, NV / ACCESSWIRE / November 10, 2016 / UFOMiners LLC is striving to keep ahead of the competition. Providing first-in-class Bitcoin and Litecoin mining hardware, this young company not only guarantees high-quality products, but it also promises affordable pricing, mix-and-match consumer-friendly promotions and free international shipping. UFOMiners focuses on three main areas: developing crypto hardware, creating blockchain-based technologies and delivering remote access service. The company's product offering now includes four powerful, cost-effective cryptocurrency miners , each with optimal hashing speeds specifically designed for Bitcoin and Litecoin mining. All hardware goes through rigorous testing before it reaches the client and comes with a 5-year warranty. What sets the company apart, is its growing team of experts and its philosophy of offering high-performance technologies at low costs. "We're a rapidly growing team of specialists who is extremely passionate about what we do. Our primary mission is to make high-tech cryptocurrency mining available to a wide range of clients and offer them innovative solutions that are profitable," a spokesperson for UFOMiners explains. UFOMiners is a group of young and ambitious enthusiasts with top-notch experience in hardware development, computer programming, engineering and management. Having in-house experts allows the company to produce key hardware components on site, which eliminates third-party expenditures. With a recent launch of a promotional deal, UFOMiners demonstrates its commitment to making high-quality cryptocurrency mining economical and readily available. "Our new promotional offer allows customers to mix and match units, according to their Bitcoin or Litecoin preferences. As long as they buy three miners in one purchase, they'll receive a fourth one for free, no matter what the combination," say a company spokesman. To save their customers, even more, money, UFOMiners is also covering the shipping costs, international destination included. Customers can conveniently order on the company website. Story continues Company Profile UFOMiners was founded in 2014 by XX. It all began with a vision to develop hardware equipment for mining scrypt cryptocurrencies, a project that later expanded to the development of Bitcoin miner. This Las Vegas-based firm is now a rapidly growing provider of cryptocurrency mining hardware and blockchain-based technologies. For more information visit: www.ufominers.com SOURCE: UFOMiners \|\| Bitcoin is flying after Donald Trump's victory: Price of bitcoin since Oct. 20 In May, a Juniper Research study ( Will Bitcoins Bite Back? ) predicted that the price of the digital currency bitcoin would jump if Donald Trump were elected. On Tuesday, Trump was elected, and bitcoin jumped. The currency is up nearly 3% since Tuesday night, hovering around $725. If Donald Trump becomes President of the US, said Dr. Winslow Holden in a statement with the study , there is the very real prospect of turmoil on world markets Bitcoin would thrive in such an environment. Bitcoin has in fact been on the rise all fall, not only because of the election . The price is up 19% in the last month, 23% in the last three months, and 68% in 2016. But in the next few days and perhaps months, the uncertainty after Trumps win will likely serve as an accelerant. Investors see bitcoin as a safe haven from fiat currencies (hence why it rises when the Chinese yuan falls), and an asset largely untied to mainstream markets. Gold typically behaves the same way, and indeed, gold shot up to $1,320 on Tuesday night as Trump closed in on the presidency , though it fell back to earth on Wednesday and is now at $1,275. Bitcoins October rise has been mostly due to heightened activity in China, where the yuan is falling and the government has tightened capital controls. Bitcoin prices also spiked during the bank shutdown in Greece last year. Juniper Research says the Brexit vote, back in June, is still having an impact as well: The ongoing ramifications around Brexit are also likely to act as an additional spur for higher activity levels. If Brexit helped contribute to a bitcoin bump , then Trumps win is likely to do it, too. Many were quick to compare the surprising result of the US election to the EU referendum result. Trump, in the days before the election, told crowds that his win would be like Brexit plus plus plus, and nicknamed himself Mr. Brexit. While Trump and bitcoin might seem to have something in common (Coin Telegraph made the case that Trump would eventually cozy up to the coin ), his campaign never accepted donations in bitcoin. Hillary Clintons campaign considered accepting donations in bitcoin, a leaked email thread revealed, but John Podesta was more intrigued by the digital currency Ven, writing that bitcoin suffers from a libertarian Ayn Rand schtick. Sen. Rand Paul and Gov. Gary Johnson were the only two presidential candidates to accept bitcoin. Story continues It doesnt matter now: Trump won, and bitcoin benefited without his support. The coin doesnt need Trump to champion it in order to succeed. The defining word of this US election is the same word that defined the Brexit vote: uncertainty. As the Juniper Research report noted, bitcoins price rose in the weeks leading up to the Brexit vote, then fell a little bit just before the vote when the outcome looked clear, then spiked when the outcome was, in fact, a big surprise. Expect the same to happen after Trumps win. Daniel Roberts is a writer at Yahoo Finance, covering technology and sports business. Follow him on Twitter at @readDanwrite . Read more: The latest bitcoin price surge isnt just about Brexit Heres where big banks stand on blockchain Why 21.co is the most exciting bitcoin company right now Coinbase is more bullish on bitcoin than ever \|\| Bitcoin is flying after Donald Trump's victory: In May, a Juniper Research study (“Will Bitcoins Bite Back?“) predicted that the price of the digital currency bitcoin would jump if Donald Trump were elected. On Tuesday, Trump was elected, and bitcoin jumped. The currency is up nearly 3% since Tuesday night, hovering around $725. “If Donald Trump becomes President of the US,” said Dr. Winslow Holdenin a statement with the study, “there is the very real prospect of turmoil on world markets… Bitcoin would thrive in such an environment.” Bitcoin has in fact been on the rise all fall,not only because of the election. The price is up 19% in the last month, 23% in the last three months, and 68% in 2016. But in the next few days and perhaps months, the uncertainty after Trump’s win will likely serve as an accelerant. Investors see bitcoin as a safe haven from fiat currencies (hence why it rises when the Chinese yuan falls), and an asset largely untied to mainstream markets. Gold typically behaves the same way, and indeed,gold shot up to $1,320 on Tuesday night as Trump closed in on the presidency, though it fell back to earth on Wednesday and is now at $1,275. Bitcoin’s October rise has been mostly due to heightened activity in China, where the yuan is falling and the government has tightened capital controls. Bitcoin prices also spikedduring the bank shutdown in Greecelast year. Juniper Research says the Brexit vote, back in June, is still having an impact as well: “The ongoing ramifications around Brexit are also likely to act as an additional spur for higher activity levels.” IfBrexit helped contribute to a bitcoin bump, then Trump’s win is likely to do it, too. Many were quick to compare the surprising result of the US election to the EU referendum result. Trump, in the days before the election, told crowds that his win would be like “Brexit plus plus plus,” and nicknamed himself “Mr. Brexit.” While Trump and bitcoin might seem to have something in common (Coin Telegraphmade the case that Trump would eventually cozy up to the coin), his campaign never accepted donations in bitcoin. Hillary Clinton’s campaign considered accepting donations in bitcoin, aleaked email thread revealed,but John Podesta was more intrigued by the digital currency Ven, writing that bitcoin suffers from a “libertarian Ayn Rand schtick.” Sen. Rand Paul and Gov. Gary Johnson were the only two presidential candidates to accept bitcoin. It doesn’t matter now: Trump won, and bitcoin benefited without his support. The coin doesn’t need Trump to champion it in order to succeed. The defining word of this US election is the same word that defined the Brexit vote: “uncertainty.” As the Juniper Research report noted, bitcoin’s price rose in the weeks leading up to the Brexit vote, then fell a little bit just before the vote when the outcome looked clear, then spiked when the outcome was, in fact, a big surprise. Expect the same to happen after Trump’s win. — Daniel Roberts is a writer at Yahoo Finance, covering technology and sports business. Follow him on Twitter at@readDanwrite. Read more: The latest bitcoin price surge isn’t just about Brexit Here’s where big banks stand on blockchain Why 21.co is the most exciting bitcoin company right now Coinbase is more bullish on bitcoin than ever \|\| Bitcoin is flying after Donald Trump's victory: In May, a Juniper Research study (“Will Bitcoins Bite Back?“) predicted that the price of the digital currency bitcoin would jump if Donald Trump were elected. On Tuesday, Trump was elected, and bitcoin jumped. The currency is up nearly 3% since Tuesday night, hovering around $725. “If Donald Trump becomes President of the US,” said Dr. Winslow Holdenin a statement with the study, “there is the very real prospect of turmoil on world markets… Bitcoin would thrive in such an environment.” Bitcoin has in fact been on the rise all fall,not only because of the election. The price is up 19% in the last month, 23% in the last three months, and 68% in 2016. But in the next few days and perhaps months, the uncertainty after Trump’s win will likely serve as an accelerant. Investors see bitcoin as a safe haven from fiat currencies (hence why it rises when the Chinese yuan falls), and an asset largely untied to mainstream markets. Gold typically behaves the same way, and indeed,gold shot up to $1,320 on Tuesday night as Trump closed in on the presidency, though it fell back to earth on Wednesday and is now at $1,275. Bitcoin’s October rise has been mostly due to heightened activity in China, where the yuan is falling and the government has tightened capital controls. Bitcoin prices also spikedduring the bank shutdown in Greecelast year. Juniper Research says the Brexit vote, back in June, is still having an impact as well: “The ongoing ramifications around Brexit are also likely to act as an additional spur for higher activity levels.” IfBrexit helped contribute to a bitcoin bump, then Trump’s win is likely to do it, too. Many were quick to compare the surprising result of the US election to the EU referendum result. Trump, in the days before the election, told crowds that his win would be like “Brexit plus plus plus,” and nicknamed himself “Mr. Brexit.” While Trump and bitcoin might seem to have something in common (Coin Telegraphmade the case that Trump would eventually cozy up to the coin), his campaign never accepted donations in bitcoin. Hillary Clinton’s campaign considered accepting donations in bitcoin, aleaked email thread revealed,but John Podesta was more intrigued by the digital currency Ven, writing that bitcoin suffers from a “libertarian Ayn Rand schtick.” Sen. Rand Paul and Gov. Gary Johnson were the only two presidential candidates to accept bitcoin. It doesn’t matter now: Trump won, and bitcoin benefited without his support. The coin doesn’t need Trump to champion it in order to succeed. The defining word of this US election is the same word that defined the Brexit vote: “uncertainty.” As the Juniper Research report noted, bitcoin’s price rose in the weeks leading up to the Brexit vote, then fell a little bit just before the vote when the outcome looked clear, then spiked when the outcome was, in fact, a big surprise. Expect the same to happen after Trump’s win. — Daniel Roberts is a writer at Yahoo Finance, covering technology and sports business. Follow him on Twitter at@readDanwrite. Read more: The latest bitcoin price surge isn’t just about Brexit Here’s where big banks stand on blockchain Why 21.co is the most exciting bitcoin company right now Coinbase is more bullish on bitcoin than ever [Social Media Buzz] 1 KOBO = 0.00000000 BTC = 0.0000 USD = 0.0000 NGN = 0.0000 ZAR = 0.0000 KES #Kobocoin 2016-11-15 07:00 pic.twitter.com/1YuToBP472 \|\| How To Hack Freebitco.in 4.00 BTC With Prof nov.2016: http://youtu.be/g3C3rI9_3lg?a via @YouTube \|\| 1 #bitcoin = $15400.00 MXN \| $0 USD #BitAPeso 1 USD = 0MXN http://www.bitapeso.com \|\| #Telmi Bitcoin und Euro: 0.0010 BTC = 0.66 EUR 1.00 EUR = 0.0015 BTC Konverter http://dlvr.it/Mg7T4T \|\| 1 #bitcoin = $15615.00 MXN \| $0 USD #BitAPeso 1 USD = 0MXN http:...	744.20, 740.98, 751.59, 751.62, 731.03, 739.25, 751.35, 744.59, 740.29, 741.65
Given the historical Bitcoin prices from the last 90 days, predict the next 10 daily closing prices. The historical prices are: 281.70, 273.09, 276.18, 272.72, 276.26, 274.35, 289.61, 291.76, 296.38, 294.35, 285.34, 281.89, 286.39, 290.59, 285.51, 256.30, 260.93, 261.75, 260.02, 267.96, 266.74, 245.60, 246.20, 248.53, 247.03, 252.80, 242.71, 247.53, 244.22, 247.27, 253.01, 254.32, 253.70, 260.60, 255.49, 253.18, 245.02, 243.68, 236.07, 236.55, 236.15, 224.59, 219.16, 223.83, 228.57, 222.88, 223.36, 222.60, 224.63, 235.27, 234.18, 236.46, 231.27, 226.39, 219.43, 229.29, 225.85, 225.81, 236.15, 232.08, 234.93, 240.36, 239.02, 236.12, 229.78, 237.33, 243.86, 241.83, 240.30, 242.16, 241.11, 236.38, 236.93, 237.60, 236.15, 236.80, 233.13, 231.95, 234.02, 235.34, 240.35, 238.87, 240.95, 237.11, 237.12, 237.28, 237.41, 237.10, 233.35, 230.19.	[Bitcoin Technical Analysis for 2015-05-31] Volume: 14730800, RSI (14-day): 40.37, 50-day EMA: 237.89, 200-day EMA: 258.70 [Wider Market Context] None available. [Recent News (last 7 days)] Microelectronics Plans Expansion Through Reduced Electrical Expense: MONARCH BAY, CA / ACCESSWIRE / May 29, 2015 / Microelectronics Technology Company ( MELY ) announces pending planned expansion in its Bitcoin server mining operation. The Company is moving forward in the next phase of its planned expansion of its Bitcoin mining operation, as it has entered into a letter of intent to acquire electricity at the lowest price available to a bitcoin mining operation in the United States. The letter of intent outlines up to 10 Mega Watts of electrical power dedicated specifically to the needs of Microelectronics Technology Company. The electrical rate for this power averages 2 cents per kilowatt, the lowest rate in the Country. The electrical provider rates reliability of the electrical power at 99.99%. "With this amount of electrical power available to the Company we can now move forward with our expansion plans of a site designed and constructed with a bitcoin mining operation in mind," stated Brett Everett, President of the Company. "With the new chip technology coming to the market, this also increases the amount of Hash Rate the Company can run with 10 Mega Watts of electrical power, providing us with some very unique options." The timing for finalization for delivery of the contract for the power is June 16, 2015 in accordance with the terms outlined in the Letter of Intent. https://www.facebook.com/btcpoolparty Additional photos and videos can be viewed at the company's Facebook page: https://www.facebook.com/MELYPK . Forward-Looking Statements: This news release includes forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. While these statements are made to convey Company progress, business opportunities and growth prospects, readers are cautioned that such forward-looking statements represent management's opinion. Whereas management believes such representations to be true and accurate based on information and data available to the Company at this time, actual results may differ materially and are subject to risk and uncertainties. Factors that may cause actual results to differ include without limitation: dependence on key personnel and suppliers; MELY's ability to commercialize its technology; ability to defend intellectual property; material and component costs; competition; economic conditions; consumer demand and product acceptance, and availability of growth capital. Story continues Additional considerations and risk factors are set forth-in reports filed on Form 8-K and 10-K with the SEC and other filings. Readers are cautioned not to place undue reliance upon these forward-looking statements; historical information is not an indicator of future performance. The Company undertakes no obligation to update publicly any forward-looking statements. CONTACT: For further Information: Microelectronics Technology Company President: Mr. Brett Everett 888-681-9777 ext. 5 [email protected] www.melypk.com SOURCE: Microelectronics Technology Company \|\| Microelectronics Plans Expansion Through Reduced Electrical Expense: MONARCH BAY, CA / ACCESSWIRE / May 29, 2015 / Microelectronics Technology Company ( MELY ) announces pending planned expansion in its Bitcoin server mining operation. The Company is moving forward in the next phase of its planned expansion of its Bitcoin mining operation, as it has entered into a letter of intent to acquire electricity at the lowest price available to a bitcoin mining operation in the United States. The letter of intent outlines up to 10 Mega Watts of electrical power dedicated specifically to the needs of Microelectronics Technology Company. The electrical rate for this power averages 2 cents per kilowatt, the lowest rate in the Country. The electrical provider rates reliability of the electrical power at 99.99%. "With this amount of electrical power available to the Company we can now move forward with our expansion plans of a site designed and constructed with a bitcoin mining operation in mind," stated Brett Everett, President of the Company. "With the new chip technology coming to the market, this also increases the amount of Hash Rate the Company can run with 10 Mega Watts of electrical power, providing us with some very unique options." The timing for finalization for delivery of the contract for the power is June 16, 2015 in accordance with the terms outlined in the Letter of Intent. https://www.facebook.com/btcpoolparty Additional photos and videos can be viewed at the company's Facebook page: https://www.facebook.com/MELYPK . Forward-Looking Statements: This news release includes forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. While these statements are made to convey Company progress, business opportunities and growth prospects, readers are cautioned that such forward-looking statements represent management's opinion. Whereas management believes such representations to be true and accurate based on information and data available to the Company at this time, actual results may differ materially and are subject to risk and uncertainties. Factors that may cause actual results to differ include without limitation: dependence on key personnel and suppliers; MELY's ability to commercialize its technology; ability to defend intellectual property; material and component costs; competition; economic conditions; consumer demand and product acceptance, and availability of growth capital. Story continues Additional considerations and risk factors are set forth-in reports filed on Form 8-K and 10-K with the SEC and other filings. Readers are cautioned not to place undue reliance upon these forward-looking statements; historical information is not an indicator of future performance. The Company undertakes no obligation to update publicly any forward-looking statements. CONTACT: For further Information: Microelectronics Technology Company President: Mr. Brett Everett 888-681-9777 ext. 5 [email protected] www.melypk.com SOURCE: Microelectronics Technology Company \|\| The 21st Century Cures Act Gets A Mixed Reception: Last week, the House Energy and Commerce Committeeunanimously passedthe 21st Century Cures Act, a new bill that will help fund medical research and relax regulations related to the discovery, development and delivery of new drugs. While some consider the new bill as a major step forward for the industry where the cost of developing new drugs has skyrocketed, others say the bill puts the public in danger as it doesn't require the meticulous testing that has been necessary in the past. Funding Change The bill offers incentives for scientists working on drugs that are important to the industry as a whole. The act dedicates government dollars to researchers working to develop precision medicine drugs and antibiotics that combat resistant strains. The legislation also supports the creation of a massive genomic database that will use large volumes of genetic data in order to help in the push toward developing precision drugs that target a specific gene. Related Link:Bio Applauds Approval Of 21st Century Cures Act Safety Questions Public safety groups have questioned the safety of such a bill, saying that allowing drugs to be approved by the Food and Drug Administration without full clinical testing creates a risk for patients. If passed, the bill would allow high-risk medical devices like pacemakers to gain approval without a full clinical study, something many say could create a dangerous precedent. Biotechs On Board? Biotech companies initially saw the bill as good for the industry as an initial draft extended market exclusivity rules for new drugs. However, those offers were dropped in the final version of the bill, leaving the biotech industry with little reason to back the bill. The Energy and Commerce Committee recentlyrequestedfinancial support for the bill from the Biotechnology Industry Organization, something the group is unlikely to offer without any benefits. Image Credit: Public Domain See more from Benzinga • Despite Warnings About A Grexit, Investors Remain Calm • Should The UK Regulate Bitcoin Wallets? • Federal Government Reminds Workers That Marijuana Is Still Off Limits © 2015 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. \|\| The 21st Century Cures Act Gets A Mixed Reception: Last week, the House Energy and Commerce Committee unanimously passed the 21st Century Cures Act, a new bill that will help fund medical research and relax regulations related to the discovery, development and delivery of new drugs. While some consider the new bill as a major step forward for the industry where the cost of developing new drugs has skyrocketed, others say the bill puts the public in danger as it doesn't require the meticulous testing that has been necessary in the past. Funding Change The bill offers incentives for scientists working on drugs that are important to the industry as a whole. The act dedicates government dollars to researchers working to develop precision medicine drugs and antibiotics that combat resistant strains. The legislation also supports the creation of a massive genomic database that will use large volumes of genetic data in order to help in the push toward developing precision drugs that target a specific gene. Related Link: Bio Applauds Approval Of 21st Century Cures Act Safety Questions Public safety groups have questioned the safety of such a bill, saying that allowing drugs to be approved by the Food and Drug Administration without full clinical testing creates a risk for patients. If passed, the bill would allow high-risk medical devices like pacemakers to gain approval without a full clinical study, something many say could create a dangerous precedent. Biotechs On Board? Biotech companies initially saw the bill as good for the industry as an initial draft extended market exclusivity rules for new drugs. However, those offers were dropped in the final version of the bill, leaving the biotech industry with little reason to back the bill. The Energy and Commerce Committee recently requested financial support for the bill from the Biotechnology Industry Organization, something the group is unlikely to offer without any benefits. Image Credit: Public Domain See more from Benzinga Despite Warnings About A Grexit, Investors Remain Calm Should The UK Regulate Bitcoin Wallets? Federal Government Reminds Workers That Marijuana Is Still Off Limits © 2015 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. View comments \|\| Despite Warnings About A Grexit, Investors Remain Calm: With Greece and its EU creditors still trying to work out the details of an agreement to release the nation's bailout funds just days before Athens is due to make loan repayments, policymakers in other parts of the world are beginning to worry that aGreek exitfrom the eurozone is becoming a real possibility. However, warnings from the U.S. and Canada have done little to upset investors, who appear to firmly believe that the two sides will reach a deal in the 11th hour. Concern Abroad On Wednesday, US Treasury Chief Jacob LewwarnedEU lawmakers that a Greek exit from the currency union would be devastating to global financial markets. Lew appeared worried that European policy makers were complacent now that stability has returned to the region, and he cautioned that a crisis in Greece would almost certainly upset the balance in the region. Related Link:Will Spain Become The Next Greece? Canadian Finance Minister Joe Oliver reiterated Lew's remarks, saying that Greece may be small, but the ripple effect of a Greek crisis would be massive. Lew and Oliver are heading to a Group of Seven meeting in Germany on Thursday, where Greek financial troubles will undoubtedly be a part of the discussion. Investors Believe Resolution Is In Sight Despite the tension surrounding Greek debt talks, investors have kept their calm. A Sentix survey of 1,000 investors showed that only 41 percent believe a Grexit is imminent. That figure, though still high, marks a decline from the 49 percent who saw Greece leaving the euro in April. Although the debt talks have dragged on longer than anticipated, rhetoric from both sides suggest that there is a commitment to keeping Greece inside the eurozone, which has given investors confidence that the deal will be completed before Athens defaults. Image Credit: Public Domain See more from Benzinga • Should The UK Regulate Bitcoin Wallets? • Federal Government Reminds Workers That Marijuana Is Still Off Limits • Entrepreneurs Got Their Groove Back In 2014 © 2015 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. \|\| Despite Warnings About A Grexit, Investors Remain Calm: With Greece and its EU creditors still trying to work out the details of an agreement to release the nation's bailout funds just days before Athens is due to make loan repayments, policymakers in other parts of the world are beginning to worry that a Greek exit from the eurozone is becoming a real possibility. However, warnings from the U.S. and Canada have done little to upset investors, who appear to firmly believe that the two sides will reach a deal in the 11th hour. Concern Abroad On Wednesday, US Treasury Chief Jacob Lew warned EU lawmakers that a Greek exit from the currency union would be devastating to global financial markets. Lew appeared worried that European policy makers were complacent now that stability has returned to the region, and he cautioned that a crisis in Greece would almost certainly upset the balance in the region. Related Link: Will Spain Become The Next Greece? Canadian Finance Minister Joe Oliver reiterated Lew's remarks, saying that Greece may be small, but the ripple effect of a Greek crisis would be massive. Lew and Oliver are heading to a Group of Seven meeting in Germany on Thursday, where Greek financial troubles will undoubtedly be a part of the discussion. Investors Believe Resolution Is In Sight Despite the tension surrounding Greek debt talks, investors have kept their calm. A Sentix survey of 1,000 investors showed that only 41 percent believe a Grexit is imminent. That figure, though still high, marks a decline from the 49 percent who saw Greece leaving the euro in April. Although the debt talks have dragged on longer than anticipated, rhetoric from both sides suggest that there is a commitment to keeping Greece inside the eurozone, which has given investors confidence that the deal will be completed before Athens defaults. Image Credit: Public Domain See more from Benzinga Should The UK Regulate Bitcoin Wallets? Federal Government Reminds Workers That Marijuana Is Still Off Limits Entrepreneurs Got Their Groove Back In 2014 © 2015 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. View comments \|\| President of Bit-X Financial Corp. (OTCQB: BITXF) Talks About Pending Launch of Company's Bitcoin Exchange and How Bitcoin Is Gaining Recognition in Major Financial Circles: POINT ROBERTS, WA and NEW YORK, NY--(Marketwired - May 28, 2015) - Investorideas.com, a global news source covering leading sectors including Bitcoin and payment technology issues an exclusive interview with Mr. Brad Moynes, President of Bit-X Financial Corp. ( OTCQB : BITXF ). Brad shares insight on the history of his company, the pending launch of the company's Bitcoin exchange and recent developments in the Bitcoin sector that have legitimized Bitcoin in the financial community, making some predict that it may replace traditional currency in the future. As one of the few publicly traded companies in the space, Brad talks about the future of Bitcoin as a digital currency and how his company is posturing to be part of the evolution of currency. Interview: Q: investorideas.com Brad, can you start by giving us a brief history of your company and why you decided to participate in the Bitcoin market? A: Brad Moynes, President of Bit-X Financial After several years of evaluating various technology start-up opportunities, in 2012 I became aware of Bitcoin and the Blockchain. It was exactly what I wanted to get involved with; a new decentralized technology that combined finance, currency, trading and the ability to transfer a store of value (money) between end users instantly, with no intermediaries, at a very low cost. This was also a brand new segment of innovation that is positioned for massive growth, unlike other stagnant industry sectors like traditional banking. This seemed like a really good idea -- world changing potential -- and I became fascinated with the technology and its potential, whereby anyone could become their own bank. Q: investorideas.com For investors unfamiliar with the technology behind Bitcoin can you explain what Blockchain is and how significant it is? I have heard quotes that it is considered "as important of an opportunity as the creation of the Internet itself." A: Brad Moynes, President of Bit-X Financial The Blockchain (created 2009) is very powerful invention and could become as big as the internet itself. It is a public ledger of all Bitcoin transactions that have ever been executed. It is constantly growing as "completed" blocks are added to it with a new set of recordings. The blocks are added to the Blockchain in a linear, chronological order. Bitcoin is the financial application of the Blockchain and the most important. Story continues Q: investorideas.com The New York Stock Exchange launched a Bitcoin index last week. Nasdaq Stock Exchange, Goldman Sachs, Richard Branson and other big names in the financial markets are all getting on board with Bitcoin. What does that mean for a company like yours and the industry overall? A: Brad Moynes, President of Bit-X Financial Many of these large institutions including the Nasdaq, NYSE and Goldman provide awareness about Bitcoin to the masses. It validates the technology and says to the market, "pay attention, there is something special here." A start-up such as Bit-X Financial stands to gain tremendously from these endorsements and large-scale investments into the Bitcoin ecosystem, as it can lead to price increases in Bitcoin and overall consumer awareness. BITXF is a digital exchange whereby users can buy & sell Bitcoin and other crypto-currencies. Blue chip participants will become a catalyst for BITXF to launch successfully and become universally acceptable. Q: investorideas.com You are about to launch your Bitcoin exchange in June. What can users expect to see once it's live in terms of service features? A: Brad Moynes, President of Bit-X Financial Some of the service features of the proprietary trading and matching engine have been pioneered from the ground up, leveraging the skills of experienced developers with respected and long-standing careers working for low latency software development firms. It is designed to manage high volume, high throughput, and low latency trading and was modeled on the same LMAX pattern now also leveraged by the world's largest Investment Banks. This investment grade trading platform has a simple and user-friendly UI for users to buy and sell all major crypto currencies. It also features one consolidated shared order book for blended multi-currency settlement in addition to real time FX pricing and risk management. The order engine delivers pre-scan indicative pricing and users can choose to either fix the quantity of Bitcoins or fix the price paid for every order. Lock in a guaranteed execution or alternatively lock in the ultimate price you're prepared to pay for your order; the choice remains yours. And this all relies on an order engine that achieves low latency performance along with the reliability of an exchange that has been verified in supporting millions of daily transactions. At the start, our platform will offer trading in Bitcoin, Litecoin, Dogecoin, Stellar and Ripple. As we grow, we will earn listing fees to other crypto-assets who are seeking access to a trading platform and liquidity. Q: investorideas.com For any users concerned about security, how is your exchange addressing this issue? A: Brad Moynes, President of Bit-X Financial BITXF takes security very seriously. Security is the cornerstone of the platform which is the most secure on the market today. We provide a 3-level login verification that includes a 2-step process to login, 3 levels of verification for withdrawals. This provides our users extra protection to prevent accounts from unauthorized access. Other than your regular password, you will be asked to enter a real-time password generated by Google Authenticator. To provide you an extra level of security, when you withdraw, you will need to activate a link on the verification email to complete the request. SSL ENCRYPTION We use 128-bit encryption to encrypt all communication between you and our website. This is the highest encryption available and is used as the gold standard for all secure communication on the net. DDOS PROTECTION We leverage one of the world's strongest forms of protection against Distributed Denial of Service attacks. We do not pretend to do this by ourselves and partner with multiple third-parties who have proven to mitigate some of the largest DDOS attacks in Internet history. PASSWORDS We do not use MD5 hashing to encrypt your password. To avoid common weaknesses, our proprietary procedures are designed to provide you, our valued clients, with the peace of mind that comes from our Next Level security implementation. DB SECURITY Our databases are encrypted and protected against SQL injection attacks. We also do hourly backups where we send the backups off-site to multiple locations. STATE OF THE ART INFRASTRUCTURE The platform is hosted in Tier 3+ ISO 27001/9001 compliant data centers. Digital currencies are not stored with cloud providers. MULTI-FIREWALL PROTECTION We closely monitor all incoming and outgoing traffic in a very stringent manner to ensure we prevent our network from malicious attack and injection as well as data threats. BUSINESS CONTINUITY PLANNING We have process and controls in place to deal with outages or attacks. Emails will be sent out to notify you of alternative ways to get back into our site. Our site and funds are totally segregated so you can be assured your funds are safe with us. REGULAR STRESS & SOAK TESTING Our technology is immediately scalable. Our regular stress testing has proven it achieves low latency processing and we've soak-tested to over 10 million transactions within a 24 hour period. Translation: our engine and underlying infrastructure can handle load, and lots of it. COMPLIANCE FRAMEWORK We insist on a comprehensive and thorough KYC (Know-Your-Customer) and AML (Anti Money Laundering) compliance framework. This includes the monitoring of suspicious transactions and obligatory reporting to local regulators and other compliance bodies. Our AML and KYC policies differ depending on the country of origin of which our clients are located, and furthermore recorded through the BITXF registration process. Our specific policies are detailed within our Terms of Use and which you must accept as per the new user registration process. Our robust compliance framework ensures that regulatory requirements are being adhered to at both a local and global level, providing the highest levels of trust and ensuring the Site continues to operate reliably for the long term. Q: investorideas.com Can you tell us about the significance of your Exclusive Bitcoin Exchange and Services Agreement with Hong Kong based ANX, announced in April? Will the coin exchange be called Bit-X Financial or will there be a different trade name and branding concept? A: Brad Moynes, President of Bit-X Financial Partnering with ANX, a Bitcoin Exchange industry leader, will provide BITXF and our shareholders a turn-key solution to gain immediate exposure to Bitcoin while leveraging the ANX technical and support assets as we prepare to go live. Among the many initiatives occurring with our Company at the moment we have yet to announce what the exchange trade name and branding will be. We want to be original and come up with something unique, something that has not been done before and we plan to release that in the upcoming weeks prior to our go-live date. The public company (BITXF) will be the parent company that owns 100% of the newly branded exchange. Q: investorideas.com In closing what are your goals following the launch and roll out of the site in June and how do you see your company playing an integral role in the future of Bitcoin? A: Brad Moynes, President of Bit-X Financial Our go-live date is on track and we fully expect to launch our world-class proprietary trading platform and provide our users a simple efficient way to trade Bitcoin. Our goals following the launch will be to provide our users a safe, secure and fully compliant Bitcoin exchange experience at a low cost. We are a customer service orientated company and we expect to be the best when it comes to customer support responses and solutions. We are also in the planning and development stage of a new Blockchain technology concept that may see BITXF become the first public company to offer such a technology and offer it to third parties worldwide. More details regarding this excited new concept will be provided as they materialize. About BIT-X: ( OTCQB : BITXF ) Bit-X Financial Corp is a Vancouver; British Columbia based Company listed on the OTCQB under the trading symbol BITXF. Bit-X Financial Corp is a reporting issuer in the Province of British Columbia, Canada with the British Columbia Securities Commission "BCSC" and in the United States with the Securities Exchange Commission "SEC." www.bitxfin.com About Investorideas.com InvestorIdeas.com newswire is a global investor news source covering multiple sectors including Bitcoin and payment technology. Follow Investorideas.com on Twitter http://twitter.com/#!/Investorideas Follow Investorideas.com on Facebook http://www.facebook.com/Investorideas Sign up for free news alerts at Investorideas.com http://www.investorideas.com/Resources/Newsletter.asp Disclaimer/ Disclosure: The Investorideas.com newswire is a third party publisher of news and research as well as creates original content as a news source. Original content created by investorideas is protected by copyright laws other than syndication rights. Investorideas is a news source on Google news syndication partners. Our site does not make recommendations for purchases or sale of stocks or products. Nothing on our sites should be construed as an offer or solicitation to buy or sell products or securities. All investment involves risk and possible loss of investment. This site is currently compensated by featured companies, news submissions, content marketing and online advertising. Contact each company directly for press release questions. Disclosure is posted on each release if required but otherwise the news was not compensated for and is published for the sole interest of our readers. Disclosure: BITXF is a PR client of Investorideas.com and compensates us for news publication, PR and media.( two thousand five hundred per month and 144 shares ) More info: http://www.investorideas.com/About/News/Clientspecifics.asp and http://www.investorideas.com/About/Disclaimer.asp BC Residents and Investor Disclaimer : Effective September 15 2008 -- all BC investors should review all OTC and Pink sheet listed companies for adherence in new disclosure filings and filing appropriate documents with Sedar. Read for more info: http://www.bcsc.bc.ca/release.aspx?id=6894 . Global investors must adhere to regulations of each country. \|\| President of Bit-X Financial Corp. (OTCQB: BITXF) Talks About Pending Launch of Company's Bitcoin Exchange and How Bitcoin Is Gaining Recognition in Major Financial Circles: POINT ROBERTS, WA and NEW YORK, NY--(Marketwired - May 28, 2015) - Investorideas.com, a global news source covering leading sectors including Bitcoin and payment technology issues an exclusive interview with Mr. Brad Moynes, President of Bit-X Financial Corp. ( OTCQB : BITXF ). Brad shares insight on the history of his company, the pending launch of the company's Bitcoin exchange and recent developments in the Bitcoin sector that have legitimized Bitcoin in the financial community, making some predict that it may replace traditional currency in the future. As one of the few publicly traded companies in the space, Brad talks about the future of Bitcoin as a digital currency and how his company is posturing to be part of the evolution of currency. Interview: Q: investorideas.com Brad, can you start by giving us a brief history of your company and why you decided to participate in the Bitcoin market? A: Brad Moynes, President of Bit-X Financial After several years of evaluating various technology start-up opportunities, in 2012 I became aware of Bitcoin and the Blockchain. It was exactly what I wanted to get involved with; a new decentralized technology that combined finance, currency, trading and the ability to transfer a store of value (money) between end users instantly, with no intermediaries, at a very low cost. This was also a brand new segment of innovation that is positioned for massive growth, unlike other stagnant industry sectors like traditional banking. This seemed like a really good idea -- world changing potential -- and I became fascinated with the technology and its potential, whereby anyone could become their own bank. Q: investorideas.com For investors unfamiliar with the technology behind Bitcoin can you explain what Blockchain is and how significant it is? I have heard quotes that it is considered "as important of an opportunity as the creation of the Internet itself." A: Brad Moynes, President of Bit-X Financial The Blockchain (created 2009) is very powerful invention and could become as big as the internet itself. It is a public ledger of all Bitcoin transactions that have ever been executed. It is constantly growing as "completed" blocks are added to it with a new set of recordings. The blocks are added to the Blockchain in a linear, chronological order. Bitcoin is the financial application of the Blockchain and the most important. Story continues Q: investorideas.com The New York Stock Exchange launched a Bitcoin index last week. Nasdaq Stock Exchange, Goldman Sachs, Richard Branson and other big names in the financial markets are all getting on board with Bitcoin. What does that mean for a company like yours and the industry overall? A: Brad Moynes, President of Bit-X Financial Many of these large institutions including the Nasdaq, NYSE and Goldman provide awareness about Bitcoin to the masses. It validates the technology and says to the market, "pay attention, there is something special here." A start-up such as Bit-X Financial stands to gain tremendously from these endorsements and large-scale investments into the Bitcoin ecosystem, as it can lead to price increases in Bitcoin and overall consumer awareness. BITXF is a digital exchange whereby users can buy & sell Bitcoin and other crypto-currencies. Blue chip participants will become a catalyst for BITXF to launch successfully and become universally acceptable. Q: investorideas.com You are about to launch your Bitcoin exchange in June. What can users expect to see once it's live in terms of service features? A: Brad Moynes, President of Bit-X Financial Some of the service features of the proprietary trading and matching engine have been pioneered from the ground up, leveraging the skills of experienced developers with respected and long-standing careers working for low latency software development firms. It is designed to manage high volume, high throughput, and low latency trading and was modeled on the same LMAX pattern now also leveraged by the world's largest Investment Banks. This investment grade trading platform has a simple and user-friendly UI for users to buy and sell all major crypto currencies. It also features one consolidated shared order book for blended multi-currency settlement in addition to real time FX pricing and risk management. The order engine delivers pre-scan indicative pricing and users can choose to either fix the quantity of Bitcoins or fix the price paid for every order. Lock in a guaranteed execution or alternatively lock in the ultimate price you're prepared to pay for your order; the choice remains yours. And this all relies on an order engine that achieves low latency performance along with the reliability of an exchange that has been verified in supporting millions of daily transactions. At the start, our platform will offer trading in Bitcoin, Litecoin, Dogecoin, Stellar and Ripple. As we grow, we will earn listing fees to other crypto-assets who are seeking access to a trading platform and liquidity. Q: investorideas.com For any users concerned about security, how is your exchange addressing this issue? A: Brad Moynes, President of Bit-X Financial BITXF takes security very seriously. Security is the cornerstone of the platform which is the most secure on the market today. We provide a 3-level login verification that includes a 2-step process to login, 3 levels of verification for withdrawals. This provides our users extra protection to prevent accounts from unauthorized access. Other than your regular password, you will be asked to enter a real-time password generated by Google Authenticator. To provide you an extra level of security, when you withdraw, you will need to activate a link on the verification email to complete the request. SSL ENCRYPTION We use 128-bit encryption to encrypt all communication between you and our website. This is the highest encryption available and is used as the gold standard for all secure communication on the net. DDOS PROTECTION We leverage one of the world's strongest forms of protection against Distributed Denial of Service attacks. We do not pretend to do this by ourselves and partner with multiple third-parties who have proven to mitigate some of the largest DDOS attacks in Internet history. PASSWORDS We do not use MD5 hashing to encrypt your password. To avoid common weaknesses, our proprietary procedures are designed to provide you, our valued clients, with the peace of mind that comes from our Next Level security implementation. DB SECURITY Our databases are encrypted and protected against SQL injection attacks. We also do hourly backups where we send the backups off-site to multiple locations. STATE OF THE ART INFRASTRUCTURE The platform is hosted in Tier 3+ ISO 27001/9001 compliant data centers. Digital currencies are not stored with cloud providers. MULTI-FIREWALL PROTECTION We closely monitor all incoming and outgoing traffic in a very stringent manner to ensure we prevent our network from malicious attack and injection as well as data threats. BUSINESS CONTINUITY PLANNING We have process and controls in place to deal with outages or attacks. Emails will be sent out to notify you of alternative ways to get back into our site. Our site and funds are totally segregated so you can be assured your funds are safe with us. REGULAR STRESS & SOAK TESTING Our technology is immediately scalable. Our regular stress testing has proven it achieves low latency processing and we've soak-tested to over 10 million transactions within a 24 hour period. Translation: our engine and underlying infrastructure can handle load, and lots of it. COMPLIANCE FRAMEWORK We insist on a comprehensive and thorough KYC (Know-Your-Customer) and AML (Anti Money Laundering) compliance framework. This includes the monitoring of suspicious transactions and obligatory reporting to local regulators and other compliance bodies. Our AML and KYC policies differ depending on the country of origin of which our clients are located, and furthermore recorded through the BITXF registration process. Our specific policies are detailed within our Terms of Use and which you must accept as per the new user registration process. Our robust compliance framework ensures that regulatory requirements are being adhered to at both a local and global level, providing the highest levels of trust and ensuring the Site continues to operate reliably for the long term. Q: investorideas.com Can you tell us about the significance of your Exclusive Bitcoin Exchange and Services Agreement with Hong Kong based ANX, announced in April? Will the coin exchange be called Bit-X Financial or will there be a different trade name and branding concept? A: Brad Moynes, President of Bit-X Financial Partnering with ANX, a Bitcoin Exchange industry leader, will provide BITXF and our shareholders a turn-key solution to gain immediate exposure to Bitcoin while leveraging the ANX technical and support assets as we prepare to go live. Among the many initiatives occurring with our Company at the moment we have yet to announce what the exchange trade name and branding will be. We want to be original and come up with something unique, something that has not been done before and we plan to release that in the upcoming weeks prior to our go-live date. The public company (BITXF) will be the parent company that owns 100% of the newly branded exchange. Q: investorideas.com In closing what are your goals following the launch and roll out of the site in June and how do you see your company playing an integral role in the future of Bitcoin? A: Brad Moynes, President of Bit-X Financial Our go-live date is on track and we fully expect to launch our world-class proprietary trading platform and provide our users a simple efficient way to trade Bitcoin. Our goals following the launch will be to provide our users a safe, secure and fully compliant Bitcoin exchange experience at a low cost. We are a customer service orientated company and we expect to be the best when it comes to customer support responses and solutions. We are also in the planning and development stage of a new Blockchain technology concept that may see BITXF become the first public company to offer such a technology and offer it to third parties worldwide. More details regarding this excited new concept will be provided as they materialize. About BIT-X: ( OTCQB : BITXF ) Bit-X Financial Corp is a Vancouver; British Columbia based Company listed on the OTCQB under the trading symbol BITXF. Bit-X Financial Corp is a reporting issuer in the Province of British Columbia, Canada with the British Columbia Securities Commission "BCSC" and in the United States with the Securities Exchange Commission "SEC." www.bitxfin.com About Investorideas.com InvestorIdeas.com newswire is a global investor news source covering multiple sectors including Bitcoin and payment technology. Follow Investorideas.com on Twitter http://twitter.com/#!/Investorideas Follow Investorideas.com on Facebook http://www.facebook.com/Investorideas Sign up for free news alerts at Investorideas.com http://www.investorideas.com/Resources/Newsletter.asp Disclaimer/ Disclosure: The Investorideas.com newswire is a third party publisher of news and research as well as creates original content as a news source. Original content created by investorideas is protected by copyright laws other than syndication rights. Investorideas is a news source on Google news syndication partners. Our site does not make recommendations for purchases or sale of stocks or products. Nothing on our sites should be construed as an offer or solicitation to buy or sell products or securities. All investment involves risk and possible loss of investment. This site is currently compensated by featured companies, news submissions, content marketing and online advertising. Contact each company directly for press release questions. Disclosure is posted on each release if required but otherwise the news was not compensated for and is published for the sole interest of our readers. Disclosure: BITXF is a PR client of Investorideas.com and compensates us for news publication, PR and media.( two thousand five hundred per month and 144 shares ) More info: http://www.investorideas.com/About/News/Clientspecifics.asp and http://www.investorideas.com/About/Disclaimer.asp BC Residents and Investor Disclaimer : Effective September 15 2008 -- all BC investors should review all OTC and Pink sheet listed companies for adherence in new disclosure filings and filing appropriate documents with Sedar. Read for more info: http://www.bcsc.bc.ca/release.aspx?id=6894 . Global investors must adhere to regulations of each country. \|\| President of Bit-X Financial Corp. (OTCQB: BITXF) Talks About Pending Launch of Company's Bitcoin Exchange and How Bitcoin Is Gaining Recognition in Major Financial Circles: POINT ROBERTS, WA and NEW YORK, NY--(Marketwired - May 28, 2015) - Investorideas.com, a global news source covering leading sectors including Bitcoin and payment technology issues an exclusive interview with Mr. Brad Moynes, President of Bit-X Financial Corp. ( OTCQB : BITXF ). Brad shares insight on the history of his company, the pending launch of the company's Bitcoin exchange and recent developments in the Bitcoin sector that have legitimized Bitcoin in the financial community, making some predict that it may replace traditional currency in the future. As one of the few publicly traded companies in the space, Brad talks about the future of Bitcoin as a digital currency and how his company is posturing to be part of the evolution of currency. Interview: Q: investorideas.com Brad, can you start by giving us a brief history of your company and why you decided to participate in the Bitcoin market? A: Brad Moynes, President of Bit-X Financial After several years of evaluating various technology start-up opportunities, in 2012 I became aware of Bitcoin and the Blockchain. It was exactly what I wanted to get involved with; a new decentralized technology that combined finance, currency, trading and the ability to transfer a store of value (money) between end users instantly, with no intermediaries, at a very low cost. This was also a brand new segment of innovation that is positioned for massive growth, unlike other stagnant industry sectors like traditional banking. This seemed like a really good idea -- world changing potential -- and I became fascinated with the technology and its potential, whereby anyone could become their own bank. Q: investorideas.com For investors unfamiliar with the technology behind Bitcoin can you explain what Blockchain is and how significant it is? I have heard quotes that it is considered "as important of an opportunity as the creation of the Internet itself." A: Brad Moynes, President of Bit-X Financial The Blockchain (created 2009) is very powerful invention and could become as big as the internet itself. It is a public ledger of all Bitcoin transactions that have ever been executed. It is constantly growing as "completed" blocks are added to it with a new set of recordings. The blocks are added to the Blockchain in a linear, chronological order. Bitcoin is the financial application of the Blockchain and the most important. Story continues Q: investorideas.com The New York Stock Exchange launched a Bitcoin index last week. Nasdaq Stock Exchange, Goldman Sachs, Richard Branson and other big names in the financial markets are all getting on board with Bitcoin. What does that mean for a company like yours and the industry overall? A: Brad Moynes, President of Bit-X Financial Many of these large institutions including the Nasdaq, NYSE and Goldman provide awareness about Bitcoin to the masses. It validates the technology and says to the market, "pay attention, there is something special here." A start-up such as Bit-X Financial stands to gain tremendously from these endorsements and large-scale investments into the Bitcoin ecosystem, as it can lead to price increases in Bitcoin and overall consumer awareness. BITXF is a digital exchange whereby users can buy & sell Bitcoin and other crypto-currencies. Blue chip participants will become a catalyst for BITXF to launch successfully and become universally acceptable. Q: investorideas.com You are about to launch your Bitcoin exchange in June. What can users expect to see once it's live in terms of service features? A: Brad Moynes, President of Bit-X Financial Some of the service features of the proprietary trading and matching engine have been pioneered from the ground up, leveraging the skills of experienced developers with respected and long-standing careers working for low latency software development firms. It is designed to manage high volume, high throughput, and low latency trading and was modeled on the same LMAX pattern now also leveraged by the world's largest Investment Banks. This investment grade trading platform has a simple and user-friendly UI for users to buy and sell all major crypto currencies. It also features one consolidated shared order book for blended multi-currency settlement in addition to real time FX pricing and risk management. The order engine delivers pre-scan indicative pricing and users can choose to either fix the quantity of Bitcoins or fix the price paid for every order. Lock in a guaranteed execution or alternatively lock in the ultimate price you're prepared to pay for your order; the choice remains yours. And this all relies on an order engine that achieves low latency performance along with the reliability of an exchange that has been verified in supporting millions of daily transactions. At the start, our platform will offer trading in Bitcoin, Litecoin, Dogecoin, Stellar and Ripple. As we grow, we will earn listing fees to other crypto-assets who are seeking access to a trading platform and liquidity. Q: investorideas.com For any users concerned about security, how is your exchange addressing this issue? A: Brad Moynes, President of Bit-X Financial BITXF takes security very seriously. Security is the cornerstone of the platform which is the most secure on the market today. We provide a 3-level login verification that includes a 2-step process to login, 3 levels of verification for withdrawals. This provides our users extra protection to prevent accounts from unauthorized access. Other than your regular password, you will be asked to enter a real-time password generated by Google Authenticator. To provide you an extra level of security, when you withdraw, you will need to activate a link on the verification email to complete the request. SSL ENCRYPTION We use 128-bit encryption to encrypt all communication between you and our website. This is the highest encryption available and is used as the gold standard for all secure communication on the net. DDOS PROTECTION We leverage one of the world's strongest forms of protection against Distributed Denial of Service attacks. We do not pretend to do this by ourselves and partner with multiple third-parties who have proven to mitigate some of the largest DDOS attacks in Internet history. PASSWORDS We do not use MD5 hashing to encrypt your password. To avoid common weaknesses, our proprietary procedures are designed to provide you, our valued clients, with the peace of mind that comes from our Next Level security implementation. DB SECURITY Our databases are encrypted and protected against SQL injection attacks. We also do hourly backups where we send the backups off-site to multiple locations. STATE OF THE ART INFRASTRUCTURE The platform is hosted in Tier 3+ ISO 27001/9001 compliant data centers. Digital currencies are not stored with cloud providers. MULTI-FIREWALL PROTECTION We closely monitor all incoming and outgoing traffic in a very stringent manner to ensure we prevent our network from malicious attack and injection as well as data threats. BUSINESS CONTINUITY PLANNING We have process and controls in place to deal with outages or attacks. Emails will be sent out to notify you of alternative ways to get back into our site. Our site and funds are totally segregated so you can be assured your funds are safe with us. REGULAR STRESS & SOAK TESTING Our technology is immediately scalable. Our regular stress testing has proven it achieves low latency processing and we've soak-tested to over 10 million transactions within a 24 hour period. Translation: our engine and underlying infrastructure can handle load, and lots of it. COMPLIANCE FRAMEWORK We insist on a comprehensive and thorough KYC (Know-Your-Customer) and AML (Anti Money Laundering) compliance framework. This includes the monitoring of suspicious transactions and obligatory reporting to local regulators and other compliance bodies. Our AML and KYC policies differ depending on the country of origin of which our clients are located, and furthermore recorded through the BITXF registration process. Our specific policies are detailed within our Terms of Use and which you must accept as per the new user registration process. Our robust compliance framework ensures that regulatory requirements are being adhered to at both a local and global level, providing the highest levels of trust and ensuring the Site continues to operate reliably for the long term. Q: investorideas.com Can you tell us about the significance of your Exclusive Bitcoin Exchange and Services Agreement with Hong Kong based ANX, announced in April? Will the coin exchange be called Bit-X Financial or will there be a different trade name and branding concept? A: Brad Moynes, President of Bit-X Financial Partnering with ANX, a Bitcoin Exchange industry leader, will provide BITXF and our shareholders a turn-key solution to gain immediate exposure to Bitcoin while leveraging the ANX technical and support assets as we prepare to go live. Among the many initiatives occurring with our Company at the moment we have yet to announce what the exchange trade name and branding will be. We want to be original and come up with something unique, something that has not been done before and we plan to release that in the upcoming weeks prior to our go-live date. The public company (BITXF) will be the parent company that owns 100% of the newly branded exchange. Q: investorideas.com In closing what are your goals following the launch and roll out of the site in June and how do you see your company playing an integral role in the future of Bitcoin? A: Brad Moynes, President of Bit-X Financial Our go-live date is on track and we fully expect to launch our world-class proprietary trading platform and provide our users a simple efficient way to trade Bitcoin. Our goals following the launch will be to provide our users a safe, secure and fully compliant Bitcoin exchange experience at a low cost. We are a customer service orientated company and we expect to be the best when it comes to customer support responses and solutions. We are also in the planning and development stage of a new Blockchain technology concept that may see BITXF become the first public company to offer such a technology and offer it to third parties worldwide. More details regarding this excited new concept will be provided as they materialize. About BIT-X: ( OTCQB : BITXF ) Bit-X Financial Corp is a Vancouver; British Columbia based Company listed on the OTCQB under the trading symbol BITXF. Bit-X Financial Corp is a reporting issuer in the Province of British Columbia, Canada with the British Columbia Securities Commission "BCSC" and in the United States with the Securities Exchange Commission "SEC." www.bitxfin.com About Investorideas.com InvestorIdeas.com newswire is a global investor news source covering multiple sectors including Bitcoin and payment technology. Follow Investorideas.com on Twitter http://twitter.com/#!/Investorideas Follow Investorideas.com on Facebook http://www.facebook.com/Investorideas Sign up for free news alerts at Investorideas.com http://www.investorideas.com/Resources/Newsletter.asp Disclaimer/ Disclosure: The Investorideas.com newswire is a third party publisher of news and research as well as creates original content as a news source. Original content created by investorideas is protected by copyright laws other than syndication rights. Investorideas is a news source on Google news syndication partners. Our site does not make recommendations for purchases or sale of stocks or products. Nothing on our sites should be construed as an offer or solicitation to buy or sell products or securities. All investment involves risk and possible loss of investment. This site is currently compensated by featured companies, news submissions, content marketing and online advertising. Contact each company directly for press release questions. Disclosure is posted on each release if required but otherwise the news was not compensated for and is published for the sole interest of our readers. Disclosure: BITXF is a PR client of Investorideas.com and compensates us for news publication, PR and media.( two thousand five hundred per month and 144 shares ) More info: http://www.investorideas.com/About/News/Clientspecifics.asp and http://www.investorideas.com/About/Disclaimer.asp BC Residents and Investor Disclaimer : Effective September 15 2008 -- all BC investors should review all OTC and Pink sheet listed companies for adherence in new disclosure filings and filing appropriate documents with Sedar. Read for more info: http://www.bcsc.bc.ca/release.aspx?id=6894 . Global investors must adhere to regulations of each country. \|\| Have Startups Seen Their Heyday?: There is a growing debate on Wall Street over whether or not U.S. equities have become dangerously overvalued. This month, Federal Reserve Chair Janet Yellen weighed in on the issue, saying that the bank does see markets as overvalued, prompting many traders to begin worrying. Tech Bubble? Now, many are taking a closer look at the tech sector, where startups like AirBnb and Uber have taken the market by storm, fundraising at record paces. However, with the Fed considering a rate hike before the end of this year, some analysts say the golden age inSilicon Valleyis about to come to an end. Related Link:Does A Tech Bubble Exist Traders Turn To Startups The Fed's accommodative policy has kept borrowing rates in the U.S. near zero, which in turn has given investors license to make riskier bets and prompted many to invest their cash in the tech space in order to get a return. For that reason, startups have seen major injections of cash from mutual funds who are interested in getting in on the ground floor. Hedge fund managershave begun to pay15 to 18 times a company's projected sales in funding rounds over the past five years rather than the 10 to 12 percent that used to be the norm. Reminiscent Of The Dot-Com Bubble Many worry that the growing amount of money being funneled into the tech scene could be reminiscent of the 2000 dot-com bubble. Investors could be taking unfounded risks in search of a lofty payout, something that may come back to haunt them when the Fed rate hike takes place. If the market pulls back, some of those companies could lose up to a third of their value. Related Link: Fed In The Spotlight: Rate Hike Bets Are Pushed Back Better Businesses However, others say the credibility of tech startups will keep markets from suffering. The companies whose fundraising efforts have been successful typically have legitimate cash flows and a sound balance sheet, unlike the Internet-based companies of the '90s who were spending more than they were taking in. Image Credit: Public Domain See more from Benzinga • Why The Oil Rollercoaster Could Continue After Memorial Day Weekend • Cameron May Find Support In Germany For A Better EU Membership • Move Over Diamonds, Bitcoin Is A Girl's Best Friend © 2015 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. \|\| Have Startups Seen Their Heyday?: There is a growing debate on Wall Street over whether or not U.S. equities have become dangerously overvalued. This month, Federal Reserve Chair Janet Yellen weighed in on the issue, saying that the bank does see markets as overvalued, prompting many traders to begin worrying. Tech Bubble? Now, many are taking a closer look at the tech sector, where startups like AirBnb and Uber have taken the market by storm, fundraising at record paces. However, with the Fed considering a rate hike before the end of this year, some analysts say the golden age in Silicon Valley is about to come to an end. Related Link: Does A Tech Bubble Exist Traders Turn To Startups The Fed's accommodative policy has kept borrowing rates in the U.S. near zero, which in turn has given investors license to make riskier bets and prompted many to invest their cash in the tech space in order to get a return. For that reason, startups have seen major injections of cash from mutual funds who are interested in getting in on the ground floor. Hedge fund managers have begun to pay 15 to 18 times a company's projected sales in funding rounds over the past five years rather than the 10 to 12 percent that used to be the norm. Reminiscent Of The Dot-Com Bubble Many worry that the growing amount of money being funneled into the tech scene could be reminiscent of the 2000 dot-com bubble. Investors could be taking unfounded risks in search of a lofty payout, something that may come back to haunt them when the Fed rate hike takes place. If the market pulls back, some of those companies could lose up to a third of their value. Related Link: Fed In The Spotlight: Rate Hike Bets Are Pushed Back Better Businesses However, others say the credibility of tech startups will keep markets from suffering. The companies whose fundraising efforts have been successful typically have legitimate cash flows and a sound balance sheet, unlike the Internet-based companies of the '90s who were spending more than they were taking in. Story continues Image Credit: Public Domain See more from Benzinga Why The Oil Rollercoaster Could Continue After Memorial Day Weekend Cameron May Find Support In Germany For A Better EU Membership Move Over Diamonds, Bitcoin Is A Girl's Best Friend © 2015 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. \|\| Bitcoin Direct LLC, Subsidiary of Conexus, Places Order for Additional 6 Automated Bitcoin Machines: NEW YORK, NY--(Marketwired - May 26, 2015) - Conexus Cattle Corp. ( OTC PINK : CNXS ) announced today their subsidiary, Bitcoin Direct LLC, a Nevada limited liability company ("Bitcoin" or the "Company"), has placed an order for 6 additional A utomated B itcoin M achines (ABMs). The ABMs, which provide consumers with the ability to instantaneously purchase bitcoins through their mobile devices, will be installed in key North American metropolitan markets. The Company currently has installations serving the major metropolitan centers of New York City and Montreal and anticipates placing the new ABMs in metropolitan areas that lack access to ABMs. Additional sites are presently being reviewed in the New York metropolitan area. ABMs present a major solution for bitcoin users. An ABM allows consumers to exchange cash and bitcoins without the need for a human to facilitate the transaction. In addition, the Company plans to offer a full range of bitcoin transaction solutions to a wide variety of industries including remittance and gaming, among others. Conrad Huss, President of Conexus, commented: "We look forward to building out the Company's North American presence and opening up markets that are either underserved or completely lacking access to an ABM. Consumer demand has created the need for additional ABMs and we are eager to install our system into highly select, profitable market areas. As the AMBs are installed, we look forward to updating all stakeholders on the Company's progress and growth." About Bitcoin Direct LLC Bitcoin Direct LLC provides bitcoin transaction solutions for consumers. Bitcoin's initial focus is aimed at installing and servicing its ABMs (Automated Bitcoin Machines) in multiple locations. The ABMs provide consumers with the ability to instantaneously purchase bitcoins through their mobile devices. Currently, the Company has installations serving the major metropolitan centers of New York City and Montreal. Safe Harbor This press release may contain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. The forward-looking statements are based on current expectations, estimates and projections made by management. The Company intends for the forward-looking statements to be covered by the safe harbor provisions for forward-looking statements. Words such as "anticipates," "expects," "intends," "plans," "believes," "seeks," "estimates," or variations of such words are intended to identify such forward-looking statements. The forward-looking statements contained in this press release include statements regarding the elimination of debt, positioning the Company for growth and the vote of confidence in the growth plans. All forward-looking statements in this press release are made as of the date of this press release, and the Company assumes no obligation to update these forward-looking statements other than as required by law. The forward-looking statements are subject to risks and uncertainties that could cause actual results to differ materially from those set forth or implied by any forward-looking statements and include the Company's ability to complete its intended growth plans in a timely manner and the other factors discussed in Current Reports on Form 8-K. Copies of these filings are available at www.sec.gov \|\| Bitcoin Direct LLC, Subsidiary of Conexus, Places Order for Additional 6 Automated Bitcoin Machines: NEW YORK, NY--(Marketwired - May 26, 2015) - Conexus Cattle Corp. (OTC PINK:CNXS) announced today their subsidiary, Bitcoin Direct LLC, a Nevada limited liability company ("Bitcoin" or the "Company"), has placed an order for 6 additionalAutomatedBitcoinMachines (ABMs). The ABMs, which provide consumers with the ability to instantaneously purchase bitcoins through their mobile devices, will be installed in key North American metropolitan markets. The Company currently has installations serving the major metropolitan centers of New York City and Montreal and anticipates placing the new ABMs in metropolitan areas that lack access to ABMs. Additional sites are presently being reviewed in the New York metropolitan area. ABMs present a major solution for bitcoin users. An ABM allows consumers to exchange cash and bitcoins without the need for a human to facilitate the transaction. In addition, the Company plans to offer a full range of bitcoin transaction solutions to a wide variety of industries including remittance and gaming, among others. Conrad Huss, President of Conexus, commented: "We look forward to building out the Company's North American presence and opening up markets that are either underserved or completely lacking access to an ABM. Consumer demand has created the need for additional ABMs and we are eager to install our system into highly select, profitable market areas. As the AMBs are installed, we look forward to updating all stakeholders on the Company's progress and growth." About Bitcoin Direct LLC Bitcoin Direct LLC provides bitcoin transaction solutions for consumers. Bitcoin's initial focus is aimed at installing and servicing its ABMs (Automated Bitcoin Machines) in multiple locations. The ABMs provide consumers with the ability to instantaneously purchase bitcoins through their mobile devices. Currently, the Company has installations serving the major metropolitan centers of New York City and Montreal. Safe Harbor This press release may contain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. The forward-looking statements are based on current expectations, estimates and projections made by management. The Company intends for the forward-looking statements to be covered by the safe harbor provisions for forward-looking statements. Words such as "anticipates," "expects," "intends," "plans," "believes," "seeks," "estimates," or variations of such words are intended to identify such forward-looking statements. The forward-looking statements contained in this press release include statements regarding the elimination of debt, positioning the Company for growth and the vote of confidence in the growth plans. All forward-looking statements in this press release are made as of the date of this press release, and the Company assumes no obligation to update these forward-looking statements other than as required by law. The forward-looking statements are subject to risks and uncertainties that could cause actual results to differ materially from those set forth or implied by any forward-looking statements and include the Company's ability to complete its intended growth plans in a timely manner and the other factors discussed in Current Reports on Form 8-K. Copies of these filings are available atwww.sec.gov \|\| Bitcoin Direct LLC, Subsidiary of Conexus, Places Order for Additional 6 Automated Bitcoin Machines: NEW YORK, NY--(Marketwired - May 26, 2015) - Conexus Cattle Corp. (OTC PINK:CNXS) announced today their subsidiary, Bitcoin Direct LLC, a Nevada limited liability company ("Bitcoin" or the "Company"), has placed an order for 6 additionalAutomatedBitcoinMachines (ABMs). The ABMs, which provide consumers with the ability to instantaneously purchase bitcoins through their mobile devices, will be installed in key North American metropolitan markets. The Company currently has installations serving the major metropolitan centers of New York City and Montreal and anticipates placing the new ABMs in metropolitan areas that lack access to ABMs. Additional sites are presently being reviewed in the New York metropolitan area. ABMs present a major solution for bitcoin users. An ABM allows consumers to exchange cash and bitcoins without the need for a human to facilitate the transaction. In addition, the Company plans to offer a full range of bitcoin transaction solutions to a wide variety of industries including remittance and gaming, among others. Conrad Huss, President of Conexus, commented: "We look forward to building out the Company's North American presence and opening up markets that are either underserved or completely lacking access to an ABM. Consumer demand has created the need for additional ABMs and we are eager to install our system into highly select, profitable market areas. As the AMBs are installed, we look forward to updating all stakeholders on the Company's progress and growth." About Bitcoin Direct LLC Bitcoin Direct LLC provides bitcoin transaction solutions for consumers. Bitcoin's initial focus is aimed at installing and servicing its ABMs (Automated Bitcoin Machines) in multiple locations. The ABMs provide consumers with the ability to instantaneously purchase bitcoins through their mobile devices. Currently, the Company has installations serving the major metropolitan centers of New York City and Montreal. Safe Harbor This press release may contain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. The forward-looking statements are based on current expectations, estimates and projections made by management. The Company intends for the forward-looking statements to be covered by the safe harbor provisions for forward-looking statements. Words such as "anticipates," "expects," "intends," "plans," "believes," "seeks," "estimates," or variations of such words are intended to identify such forward-looking statements. The forward-looking statements contained in this press release include statements regarding the elimination of debt, positioning the Company for growth and the vote of confidence in the growth plans. All forward-looking statements in this press release are made as of the date of this press release, and the Company assumes no obligation to update these forward-looking statements other than as required by law. The forward-looking statements are subject to risks and uncertainties that could cause actual results to differ materially from those set forth or implied by any forward-looking statements and include the Company's ability to complete its intended growth plans in a timely manner and the other factors discussed in Current Reports on Form 8-K. Copies of these filings are available atwww.sec.gov [Social Media Buzz] $232.24 at 09:30 UTC [24h Range: $231.00 - $234.76 Volume: 4337 BTC] \|\| Current price: 152.14£ $BTCGBP $btc #bitcoin 2015-05-31 09:00:07 BST \|\| Current price: 209.69€ $BTCEUR $btc #bitcoin 2015-06-01 01:00:03 CEST \|\| BTCTurk 629.77 TL BTCe 234.21 $ CampBx $ BitStamp 232.21 $ Cavirtex 288.83 $ CEXIO 237.30 $ Bitcoin.de 213.00 € #Bitcoin #btc \|\| $232.49 at 04:15 UTC [24h Range: $231.00 - $235.41 Volume: 4355 BTC] \|\| #RDD / #BTC on the exchanges: Cryptsy: 0.00000005 Bittrex: 0.00000005 Average $1....	222.93, 225.80, 225.87, 224.32, 224.95, 225.62, 222.88, 228.49, 229.05, 228.80
Given the historical Bitcoin prices from the last 90 days, predict the next 10 daily closing prices. The historical prices are: 6191.19, 6198.78, 6185.07, 5830.25, 6416.31, 6734.80, 6681.06, 6716.44, 6469.80, 6242.19, 5922.04, 6429.84, 6438.64, 6606.78, 6793.62, 6733.39, 6867.53, 6791.13, 7271.78, 7176.41, 7334.10, 7302.09, 6865.49, 6859.08, 6971.09, 6845.04, 6842.43, 6642.11, 7116.80, 7096.18, 7257.67, 7189.42, 6881.96, 6880.32, 7117.21, 7429.72, 7550.90, 7569.94, 7679.87, 7795.60, 7807.06, 8801.04, 8658.55, 8864.77, 8988.60, 8897.47, 8912.65, 9003.07, 9268.76, 9951.52, 9842.67, 9593.90, 8756.43, 8601.80, 8804.48, 9269.99, 9733.72, 9328.20, 9377.01, 9670.74, 9726.58, 9729.04, 9522.98, 9081.76, 9182.58, 9209.29, 8790.37, 8906.93, 8835.05, 9181.02, 9525.75, 9439.12, 9700.41, 9461.06, 10167.27, 9529.80, 9656.72, 9800.64, 9665.53, 9653.68, 9758.85, 9771.49, 9795.70, 9870.09, 9321.78, 9480.84, 9475.28, 9386.79, 9450.70, 9538.02.	[Bitcoin Technical Analysis for 2020-06-16] Volume: 21565537209, RSI (14-day): 51.88, 50-day EMA: 9150.58, 200-day EMA: 8473.48 [Wider Market Context] Gold Price: 1729.60, Gold RSI: 53.59 Oil Price: 38.38, Oil RSI: 61.51 [Recent News (last 7 days)] Bitcoin Miner Maker Canaan’s Stock Hits Record Low 1 Month After Halving: Related:US Supreme Court’s Computer Fraud Ruling Has Big Implications for Crypto This interpretation could also criminalize 51% attacks against public network blockchains. • The Crypto Community Needs to Stand Up and Fight Racism • Your Property Rights Should Extend to Social Media \|\| Bitcoin Miner Maker Canaan’s Stock Hits Record Low 1 Month After Halving: Related:US Supreme Court’s Computer Fraud Ruling Has Big Implications for Crypto This interpretation could also criminalize 51% attacks against public network blockchains. • The Crypto Community Needs to Stand Up and Fight Racism • Your Property Rights Should Extend to Social Media \|\| Bitcoin Miner Maker Canaans Stock Hits Record Low 1 Month After Halving: Related: US Supreme Courts Computer Fraud Ruling Has Big Implications for Crypto This interpretation could also criminalize 51% attacks against public network blockchains. Related Stories The Crypto Community Needs to Stand Up and Fight Racism Your Property Rights Should Extend to Social Media \|\| US Supreme Court’s Computer Fraud Ruling Has Big Implications for Crypto: Bitcoin took a hit Monday, only to recover as many market participants see price weakness ahead. Bitcoin(BTC) was trading around $9,426 as of 20:00 UTC (4 p.m. ET), gaining less than a percent over the previous 24 hours. At 00:00 UTC on Monday (8:00 p.m. Sunday EDT), bitcoin was changing hands around $9,327 on spot exchanges such as Coinbase. It then dipped 5% to as low as $8,895 before picking back up to over $9,300. The price is now above its 10-day and 50-day moving averages, a bullish technical indicator. “Bitcoin is trading off with other asset classes, having suffered a loss of short-term momentum,” said Katie Stockton, lead analyst for Fairlead Strategies. “There is room to short-term oversold territory, but no support has been broken. The neutral consolidation phase is intact, in my work, as long as bitcoin is above the 200-day moving average, about $8,340, and below resistance near $10,055.” Read More:Bitcoin Price Drop May Be a Bear Trap, Options Market Suggests Traders say traditional markets seem to be taking the lead these days. “Our actual concern at the moment is the correlation between equities and gold,” Singapore-based quantitative trading firm QCP Capital wrote in an investor note Monday. “If both start trading lower in tandem, which happened prior to Black Thursday in March and also before the Thursday sell-off last week, it could be a strong signal for BTC to trade a leg lower as well.” Indeed, both bitcoin and the S&P 500 saw similar movements on June 10’s drop across most markets. Gold has held its own throughout the year, with the exception of March’s decline. Related:Market Wrap: Bitcoin Drops, Then Pops as Traders See Weaker Markets Coming That bitcoin’s performance is matching stocks of late concerns George Clayton of Cryptanalysis Capital. “The correlation with stocks is continuing,” he told CoinDesk. “That’s negative for crypto right now.” Read More:JPMorgan Analysts: Bitcoin Is Likely to Survive (as a Speculative Asset) The market may seem weak right now but it could be worse, said Chris Thomas, head of digital assets at Swissquote Bank. “An interesting point is that miners do not appear to be selling. Otherwise, we would have seen the market significantly lower.” A look at the market for options with June expiration shows where some traders see the price heading. According to data collected from aggregator Skew, bitcoin has a 90% probability of being over $7,500, yet only a 13% chance of hitting $10,500 for the month of June. Thomas said the sweet spot for bitcoin is around the $8,000 range going forward. “I think we may drift a bit over the next few days and week, perhaps make a new leg lower into the $8,000 territory,” he said. “There are a lot of buyers and sellers sitting on the sidelines waiting.” Digital assets on CoinDesk’s big board are mostly in the red Monday.Ether(ETH), the second-largest cryptocurrency by market capitalization, is trading around $232 and slipping 1% in 24 hours as of 20:00 UTC (4:00 p.m. ET). Read More:Cardano’s No Ethereum Killer Yet, but It’s Winning in Crypto Markets The number of unique addresses active in the Ethereum network either as a sender or receiver has been trending up. Activity spiked during March’s coronavirus-induced crash, at 389,114 active addresses. On June 2, the number hit 387,293, closing in on that March 21 high for the year so far. The biggest cryptocurrency losers on the day includedecred(DCR) in the red 4.4%,qtum(QTUM) dipping 3.4% andbitcoin SV(BSV) down 3.2%. The lone winner waszcash(ZEC) in the green 2.8%. All price changes were as of 20:00 UTC (4:00 p.m. ET). In commodities, oil gained 1.5%, with a barrel of crude priced at $37 at press time. Gold is trading flat, with the yellow metal slipping by less than a percent, trading at around $1,726 for the day. Read More:Cryptocurrency Markets May Be Decentralized but They’re Still Accountable In Asia, the Nikkei 225 index of publicly traded companies in Japan closed in the red 3.4%on fears of the coronavirus pandemic making a comeback.I n Europe, the FTSE 100 index ended trading flat, down less than a percent asamid concerns about COVID-19 making a resurgence. The U.S. S&P 500 index gained less than a percent. Since the start of 2020 the tech stock Amazon.com, which is in the top five of the S&P 500, has actually outgained bitcoin, up 39% versus the world’s oldest currency’s 31% appreciation. U.S. Treasury bonds were mixed on the day. Yields, which move in the opposite direction as price, were down most on the t-year, in the red 5%. • Inactive Bitcoin Supply Reaches 4-Year High, Pointing to Bullish Sentiment • Bitcoin Price Drop May Be a Bear Trap, Options Market Suggests \|\| US Supreme Court’s Computer Fraud Ruling Has Big Implications for Crypto: Bitcoin took a hit Monday, only to recover as many market participants see price weakness ahead. Bitcoin (BTC) was trading around $9,426 as of 20:00 UTC (4 p.m. ET), gaining less than a percent over the previous 24 hours. At 00:00 UTC on Monday (8:00 p.m. Sunday EDT), bitcoin was changing hands around $9,327 on spot exchanges such as Coinbase. It then dipped 5% to as low as $8,895 before picking back up to over $9,300. The price is now above its 10-day and 50-day moving averages, a bullish technical indicator. “Bitcoin is trading off with other asset classes, having suffered a loss of short-term momentum,” said Katie Stockton, lead analyst for Fairlead Strategies. “There is room to short-term oversold territory, but no support has been broken. The neutral consolidation phase is intact, in my work, as long as bitcoin is above the 200-day moving average, about $8,340, and below resistance near $10,055.” Read More: Bitcoin Price Drop May Be a Bear Trap, Options Market Suggests Traders say traditional markets seem to be taking the lead these days. “Our actual concern at the moment is the correlation between equities and gold,” Singapore-based quantitative trading firm QCP Capital wrote in an investor note Monday. “If both start trading lower in tandem, which happened prior to Black Thursday in March and also before the Thursday sell-off last week, it could be a strong signal for BTC to trade a leg lower as well.” Indeed, both bitcoin and the S&P 500 saw similar movements on June 10’s drop across most markets. Gold has held its own throughout the year, with the exception of March’s decline. Related: Market Wrap: Bitcoin Drops, Then Pops as Traders See Weaker Markets Coming That bitcoin’s performance is matching stocks of late concerns George Clayton of Cryptanalysis Capital. “The correlation with stocks is continuing,” he told CoinDesk. “That’s negative for crypto right now.” Story continues Read More: JPMorgan Analysts: Bitcoin Is Likely to Survive (as a Speculative Asset) The market may seem weak right now but it could be worse, said Chris Thomas, head of digital assets at Swissquote Bank. “An interesting point is that miners do not appear to be selling. Otherwise, we would have seen the market significantly lower.” A look at the market for options with June expiration shows where some traders see the price heading. According to data collected from aggregator Skew, bitcoin has a 90% probability of being over $7,500, yet only a 13% chance of hitting $10,500 for the month of June. Thomas said the sweet spot for bitcoin is around the $8,000 range going forward. “I think we may drift a bit over the next few days and week, perhaps make a new leg lower into the $8,000 territory,” he said. “There are a lot of buyers and sellers sitting on the sidelines waiting.” Other markets Digital assets on CoinDesk’s big board are mostly in the red Monday. Ether (ETH), the second-largest cryptocurrency by market capitalization, is trading around $232 and slipping 1% in 24 hours as of 20:00 UTC (4:00 p.m. ET). Read More: Cardano’s No Ethereum Killer Yet, but It’s Winning in Crypto Markets The number of unique addresses active in the Ethereum network either as a sender or receiver has been trending up. Activity spiked during March’s coronavirus-induced crash, at 389,114 active addresses. On June 2, the number hit 387,293, closing in on that March 21 high for the year so far. The biggest cryptocurrency losers on the day include decred (DCR) in the red 4.4%, qtum (QTUM) dipping 3.4% and bitcoin SV (BSV) down 3.2%. The lone winner was zcash (ZEC) in the green 2.8%. All price changes were as of 20:00 UTC (4:00 p.m. ET). In commodities, oil gained 1.5%, with a barrel of crude priced at $37 at press time. Gold is trading flat, with the yellow metal slipping by less than a percent, trading at around $1,726 for the day. Read More: Cryptocurrency Markets May Be Decentralized but They’re Still Accountable In Asia, the Nikkei 225 index of publicly traded companies in Japan closed in the red 3.4% on fears of the coronavirus pandemic making a comeback .I n Europe, the FTSE 100 index ended trading flat, down less than a percent as amid concerns about COVID-19 making a resurgence . The U.S. S&P 500 index gained less than a percent. Since the start of 2020 the tech stock Amazon.com, which is in the top five of the S&P 500, has actually outgained bitcoin, up 39% versus the world’s oldest currency’s 31% appreciation. U.S. Treasury bonds were mixed on the day. Yields, which move in the opposite direction as price, were down most on the t-year, in the red 5%. Related Stories Inactive Bitcoin Supply Reaches 4-Year High, Pointing to Bullish Sentiment Bitcoin Price Drop May Be a Bear Trap, Options Market Suggests \|\| US Air Force Gives Blockchain Firm $1.5M to Build Supply Chain Network: SIMBA Chain, a blockchain-as-a-service company with deep ties to the Department of Defense, has two years and $1.5 million to research and develop a blockchain for supply chain logistics for the U.S. Air Force. The South Bend, Ind., firm said on Monday it has entered Phase II of its Small Business Innovation Research (SBIR) USAF project with a renewed mandate to investigate blockchain’s military supply chain value propositions. It has also gained a new partner: Boeing. SIMBA CEO Joel Neidig said his firm will “stand up” a node running Hyperledger Fabric at Oklahoma’s Tinker Air Force Base – a hub forAir Force supply chain logistics– with a special focus on risk management: knowing the what, where, who and how of parts that may one day go through the USAF’s$62 billion procurement machine. That means anticipating and identifying areas in the supply chain that could one day break down. Neidig declined to state what Boeing parts the USAF will track in Phase II but did reiterate that it will use “real data.” A Boeing spokesperson did not respond to a request for comment. Read more:Pentagon War Game Envisioned a Generation-Z Rebellion Funded by Bitcoin Neidig offered Chinese-sourced computer chips as a future example for which the USAF could use the SIMBA Chain. “There might be transistors or microprocessors and we’re looking at how we mitigate that risk and see where the items are coming from,” he said. Related:US Air Force Gives Blockchain Firm $1.5M to Build Supply Chain Network The blockchain could help secure parts by documenting every relevant datapoint, a critical feature for the Armed Forces’ procurement gurus, according to Neidig. He said they think out their supply chains in ways civilians “don’t even take into consideration.” “Within the military they’re also thinking about how people are sharing data, where it is coming from, where else is it connected to. They think out all the things that can go wrong, and that’s where blockchain can come in,” he said. A USAF press officer did not immediately respond to CoinDesk’s request for comment. SIMBA Chain has been investigating blockchain on the military’s behalf since receivingseed fundingfor a crypto chat app from the Defense Advanced Research Projects Agency in 2017. Since then, the platform, a project of Indiana Technology and Manufacturing Companies, has entered into multiple SBIR contracts with theNavyas well as theAir Force. The company has become an advocate for blockchain utilization in the military supply chain, an expansive network of thousands of parts worth billions of dollars moving across tens of borders every day. Last month, SIMBA Chain co-wrote a private sector white paper hailing blockchain-enhanced supply chains. Read more:US Military Is Falling Behind China, Russia in Blockchain Arms Race: IBM, Accenture The USAF’s need to securely track its billion-dollar parts network has only gotten more complex with the introduction of additive manufacturing. Commonly known as 3D printing, the process promises to allow warfighters to print whatever they may need while deployed, according to Jeffrey Slayton, director of Special Programs, Strategy and Policy for the USAF. “Emerging technologies like SIMBA Chain’s blockchain platform have the potential to achieve the reliable exchange of information over an unreliable network where not all participants can be trusted, and in so doing, continue to advance the technological supremacy of America’s air, space and cyber forces,” Slayton said in the press statement. SIMBA Chain could also help the military get ahead of problems that may arise with the proliferation of new technologies, like artificial intelligence and machine learning, which can draw analysis from reams of data – assuming that data is legitimate, Neidigl said. That’s where blockchain can come in. “We’re supplying that trust layer, the data integrity,” Neidigl said. “We need to have a great foundation of trusted transactions before we start ingesting data into AI.” • TradeLens to Digitize India’s Largest Private Port Operator • Tradeshift Proposes Plan to Protect Denmark’s Supply Chains From COVID-19 Crisis \|\| US Air Force Gives Blockchain Firm $1.5M to Build Supply Chain Network: SIMBA Chain, a blockchain-as-a-service company with deep ties to the Department of Defense, has two years and $1.5 million to research and develop a blockchain for supply chain logistics for the U.S. Air Force. The South Bend, Ind., firm said on Monday it has entered Phase II of its Small Business Innovation Research (SBIR) USAF project with a renewed mandate to investigate blockchain’s military supply chain value propositions. It has also gained a new partner: Boeing. SIMBA CEO Joel Neidig said his firm will “stand up” a node running Hyperledger Fabric at Oklahoma’s Tinker Air Force Base – a hub for Air Force supply chain logistics – with a special focus on risk management: knowing the what, where, who and how of parts that may one day go through the USAF’s $62 billion procurement machine . That means anticipating and identifying areas in the supply chain that could one day break down. Neidig declined to state what Boeing parts the USAF will track in Phase II but did reiterate that it will use “real data.” A Boeing spokesperson did not respond to a request for comment. Read more: Pentagon War Game Envisioned a Generation-Z Rebellion Funded by Bitcoin Neidig offered Chinese-sourced computer chips as a future example for which the USAF could use the SIMBA Chain. “There might be transistors or microprocessors and we’re looking at how we mitigate that risk and see where the items are coming from,” he said. Related: US Air Force Gives Blockchain Firm $1.5M to Build Supply Chain Network The blockchain could help secure parts by documenting every relevant datapoint, a critical feature for the Armed Forces’ procurement gurus, according to Neidig. He said they think out their supply chains in ways civilians “don’t even take into consideration.” “Within the military they’re also thinking about how people are sharing data, where it is coming from, where else is it connected to. They think out all the things that can go wrong, and that’s where blockchain can come in,” he said. Story continues A USAF press officer did not immediately respond to CoinDesk’s request for comment. Blockchain in the Air Force SIMBA Chain has been investigating blockchain on the military’s behalf since receiving seed funding for a crypto chat app from the Defense Advanced Research Projects Agency in 2017. Since then, the platform, a project of Indiana Technology and Manufacturing Companies, has entered into multiple SBIR contracts with the Navy as well as the Air Force . The company has become an advocate for blockchain utilization in the military supply chain, an expansive network of thousands of parts worth billions of dollars moving across tens of borders every day. Last month, SIMBA Chain co-wrote a private sector white paper hailing blockchain-enhanced supply chains. Read more: US Military Is Falling Behind China, Russia in Blockchain Arms Race: IBM, Accenture The USAF’s need to securely track its billion-dollar parts network has only gotten more complex with the introduction of additive manufacturing. Commonly known as 3D printing, the process promises to allow warfighters to print whatever they may need while deployed, according to Jeffrey Slayton, director of Special Programs, Strategy and Policy for the USAF. “Emerging technologies like SIMBA Chain’s blockchain platform have the potential to achieve the reliable exchange of information over an unreliable network where not all participants can be trusted, and in so doing, continue to advance the technological supremacy of America’s air, space and cyber forces,” Slayton said in the press statement. SIMBA Chain could also help the military get ahead of problems that may arise with the proliferation of new technologies, like artificial intelligence and machine learning, which can draw analysis from reams of data – assuming that data is legitimate, Neidigl said. That’s where blockchain can come in. “We’re supplying that trust layer, the data integrity,” Neidigl said. “We need to have a great foundation of trusted transactions before we start ingesting data into AI.” Related Stories TradeLens to Digitize India’s Largest Private Port Operator Tradeshift Proposes Plan to Protect Denmark’s Supply Chains From COVID-19 Crisis \|\| Bitcoin, Ethereum & Ripple - American Wrap: 6/15/2020: Bitcoin Price Prediction: BTC/USD Defends $8,900, Where Are The Resistance Levels? Confluence Detector Bitcoin had another leg down today on June 15, however, bulls have managed to push Bitcoin back up from a low of $8,910. The current daily candlestick is a bullish reversal candlestick and indicates that bulls are still interested in buying Bitcoin. Of course, Bitcoin will encounter more resistance levels towards $10,000 now. Lets check out some of the closest resistance points Bitcoin is facing. Ethereum Chart Analysis: ETH/USD Push Towards $228 Indicates A Slight Recovery Things werent looking good for Ethereum and the majority of cryptos. The bulls seem to be back and have managed to push ETH up to $228, close to the daily 26-EMA. This is an important support level that if defended, would indicate Ethereum is still slightly bullish. XRP Price Analysis Expecting XRP Price Analysis Expecting $0.15 Soon .15 Soon The first days of the week the cryptocurrency market has stared with a bearish mood as the decline that started over the weekend has continued. As a result, all of the top 10 coins are in the red zone. Top 10 coins by Coinstats The decrease in the market has affected its capitalization, which has lost $10 Bln in just 24 hours. Image sourced from Pixabay See more from Benzinga Bitcoin, Ethereum & Ripple - American Wrap: June 10, 2020 Cryptocurrencies Price Prediction: Bitcoin, Ethereum & Litecoin American Wrap: 6/9/2020 Bitcoin, Ethereum & Litecoin - American Wrap: 6/8/2020 © 2020 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. \|\| Bitcoin, Ethereum & Ripple - American Wrap: 6/15/2020: Bitcoin Price Prediction: BTC/USD Defends $8,900, Where Are The Resistance Levels? – Confluence Detector Bitcoin had another leg down today on June 15, however, bulls have managed to push Bitcoin back up from a low of $8,910. The current daily candlestick is a bullish reversal candlestick and indicates that bulls are still interested in buying Bitcoin. Of course, Bitcoin will encounter more resistance levels towards $10,000 now. Let’s check out some of the closest resistance points Bitcoin is facing. Ethereum Chart Analysis: ETH/USD Push Towards $228 Indicates A Slight Recovery Things weren’t looking good for Ethereum and the majority of cryptos. The bulls seem to be back and have managed to push ETH up to $228, close to the daily 26-EMA. This is an important support level that if defended, would indicate Ethereum is still slightly bullish. XRP Price Analysis – ExpectingXRP Price Analysis – Expecting $0.15 Soon.15 Soon The first days of the week the cryptocurrency market has stared with a bearish mood as the decline that started over the weekend has continued. As a result, all of the top 10 coins are in the red zone. Top 10 coins by Coinstats The decrease in the market has affected its capitalization, which has lost $10 Bln in just 24 hours. Image sourced from Pixabay See more from Benzinga • Bitcoin, Ethereum & Ripple - American Wrap: June 10, 2020 • Cryptocurrencies Price Prediction: Bitcoin, Ethereum & Litecoin – American Wrap: 6/9/2020 • Bitcoin, Ethereum & Litecoin - American Wrap: 6/8/2020 © 2020 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. \|\| Bitcoin, Ethereum & Ripple - American Wrap: 6/15/2020: Bitcoin Price Prediction: BTC/USD Defends $8,900, Where Are The Resistance Levels? – Confluence Detector Bitcoin had another leg down today on June 15, however, bulls have managed to push Bitcoin back up from a low of $8,910. The current daily candlestick is a bullish reversal candlestick and indicates that bulls are still interested in buying Bitcoin. Of course, Bitcoin will encounter more resistance levels towards $10,000 now. Let’s check out some of the closest resistance points Bitcoin is facing. Ethereum Chart Analysis: ETH/USD Push Towards $228 Indicates A Slight Recovery Things weren’t looking good for Ethereum and the majority of cryptos. The bulls seem to be back and have managed to push ETH up to $228, close to the daily 26-EMA. This is an important support level that if defended, would indicate Ethereum is still slightly bullish. XRP Price Analysis – ExpectingXRP Price Analysis – Expecting $0.15 Soon.15 Soon The first days of the week the cryptocurrency market has stared with a bearish mood as the decline that started over the weekend has continued. As a result, all of the top 10 coins are in the red zone. Top 10 coins by Coinstats The decrease in the market has affected its capitalization, which has lost $10 Bln in just 24 hours. Image sourced from Pixabay See more from Benzinga • Bitcoin, Ethereum & Ripple - American Wrap: June 10, 2020 • Cryptocurrencies Price Prediction: Bitcoin, Ethereum & Litecoin – American Wrap: 6/9/2020 • Bitcoin, Ethereum & Litecoin - American Wrap: 6/8/2020 © 2020 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. \|\| Market Wrap: Bitcoin Drops, Then Pops as Traders See Weaker Markets Coming: A Bloomberg senior editor today argued there were six reasons why 2020 was bad for bitcoin. Here’s the opposite case. Formore episodesand free early access before our regular 3 p.m. Eastern time releases, subscribe withApple Podcasts,Spotify,Pocketcasts,Google Podcasts,Castbox,Stitcher,RadioPublica,iHeartRadioorRSS. This episode is sponsored byBitstampandCiphertrace. • Stocks down on coronavirus fears • Demand destruction • The looming retirement crisis Bitcoinis up more than 30% on the year. After a crash alongside equities, it has proved incredibly resilient. There are famous new entrants to the space like Paul Tudor Jones II. So how can a Bloomberg editor argue the year has been bad for bitcoin? In this response podcast, NLW argues that most of the arguments are about narrative, not the underlying fundamentals. He presents six reasons why not only has it not been a bad year, but the exact opposite is true: • Demonstrated institutional uptake • Demonstrated resilience • New champions • Narrative fundamentals • Need in emerging markets • End of economic orthodoxy See also:The Mirage of the Money Printer: Why the Fed Is More PR Than Policy, Feat. Jeffrey P. Snider Related:Sorry, Bloomberg: Here Are 6 Reasons Why 2020 Is a Great Year for Bitcoin Formore episodesand free early access before our regular 3 p.m. Eastern time releases, subscribe withApple Podcasts,Spotify,Pocketcasts,Google Podcasts,Castbox,Stitcher,RadioPublica,iHeartRadioorRSS. • Inactive Bitcoin Supply Reaches 4-Year High, Pointing to Bullish Sentiment • Bitcoin News Roundup for June 15, 2020 \|\| Market Wrap: Bitcoin Drops, Then Pops as Traders See Weaker Markets Coming: A Bloomberg senior editor today argued there were six reasons why 2020 was bad for bitcoin. Here’s the opposite case. Formore episodesand free early access before our regular 3 p.m. Eastern time releases, subscribe withApple Podcasts,Spotify,Pocketcasts,Google Podcasts,Castbox,Stitcher,RadioPublica,iHeartRadioorRSS. This episode is sponsored byBitstampandCiphertrace. • Stocks down on coronavirus fears • Demand destruction • The looming retirement crisis Bitcoinis up more than 30% on the year. After a crash alongside equities, it has proved incredibly resilient. There are famous new entrants to the space like Paul Tudor Jones II. So how can a Bloomberg editor argue the year has been bad for bitcoin? In this response podcast, NLW argues that most of the arguments are about narrative, not the underlying fundamentals. He presents six reasons why not only has it not been a bad year, but the exact opposite is true: • Demonstrated institutional uptake • Demonstrated resilience • New champions • Narrative fundamentals • Need in emerging markets • End of economic orthodoxy See also:The Mirage of the Money Printer: Why the Fed Is More PR Than Policy, Feat. Jeffrey P. Snider Related:Sorry, Bloomberg: Here Are 6 Reasons Why 2020 Is a Great Year for Bitcoin Formore episodesand free early access before our regular 3 p.m. Eastern time releases, subscribe withApple Podcasts,Spotify,Pocketcasts,Google Podcasts,Castbox,Stitcher,RadioPublica,iHeartRadioorRSS. • Inactive Bitcoin Supply Reaches 4-Year High, Pointing to Bullish Sentiment • Bitcoin News Roundup for June 15, 2020 \|\| Market Wrap: Bitcoin Drops, Then Pops as Traders See Weaker Markets Coming: A Bloomberg senior editor today argued there were six reasons why 2020 was bad for bitcoin. Here’s the opposite case. For more episodes and free early access before our regular 3 p.m. Eastern time releases, subscribe with Apple Podcasts , Spotify , Pocketcasts , Google Podcasts , Castbox , Stitcher , RadioPublica , iHeartRadio or RSS . This episode is sponsored by Bitstamp and Ciphertrace . Today on the Brief: Stocks down on coronavirus fears Demand destruction The looming retirement crisis Our main theme: Bitcoin is up more than 30% on the year. After a crash alongside equities, it has proved incredibly resilient. There are famous new entrants to the space like Paul Tudor Jones II. So how can a Bloomberg editor argue the year has been bad for bitcoin? In this response podcast, NLW argues that most of the arguments are about narrative, not the underlying fundamentals. He presents six reasons why not only has it not been a bad year, but the exact opposite is true: Demonstrated institutional uptake Demonstrated resilience New champions Narrative fundamentals Need in emerging markets End of economic orthodoxy See also: The Mirage of the Money Printer: Why the Fed Is More PR Than Policy, Feat. Jeffrey P. Snider Related: Sorry, Bloomberg: Here Are 6 Reasons Why 2020 Is a Great Year for Bitcoin For more episodes and free early access before our regular 3 p.m. Eastern time releases, subscribe with Apple Podcasts , Spotify , Pocketcasts , Google Podcasts , Castbox , Stitcher , RadioPublica , iHeartRadio or RSS . Related Stories Inactive Bitcoin Supply Reaches 4-Year High, Pointing to Bullish Sentiment Bitcoin News Roundup for June 15, 2020 \|\| 3 Cryptocurrencies With Recession-Resistant Potential: Volatility continues to plague economic markets worldwide, despite intense government intervention. June 11th provided the largest drop in the Dow Jones since March,falling over 1,800 points. As one of the longest bull markets in history comes to a close, spooked investors are looking to alternative assets. As always, some fled to the precious metals market. Gold and silverboth surged as stocks crashed. Yet, if this most recent dip follows previous trends from 2020, another asset may benefit. Cryptocurrencies followed stocks during the COVID-related crash earlier this year. However, while stocks suffered severe volatility,cryptocurrency markets recovered handily. While long-time frontrunners such as Bitcoin and Ethereum led the recovery, some smaller cryptocurrencies deserve notice. Bankcoin Reserve (BCR) Bitcoin’s price action brought focus away from its usage as a digital currency. Instead, many now look to it as a store-of-value – an idea buoyed by the recent COVID crash. Bitcoin’s brand recognition and first-mover status keep it dominant, for now. Other cryptocurrencies continue to chip away at BTC through purpose-built blockchains. Bankcoin Reserve or BCR serves as astore-of-value based on physical goods. Pegged against the price per ounce of gold and offering annualized interest, BCR swerves away from volatile price action. Removing that aspect makes it attractive for use in back-end bank software. Replacing legacy banking software with immutable blockchain technology is a nearly foregone conclusion – with BCR positioned perfectly to capitalize. V-ID Token (VIDT) Essential services often require verifiable documentation. Even in a digital world, signatures hold a tremendous amount of weight. V-ID and the associated V-ID Token provide a solution to this issue. Through theestablishment of documents on the V-ID blockchain, they become immutable – verified and freely referenced by all associated parties. Last year, V-ID partnered with AmSpec to provide digital verification for oil and gas inspections. Chainlink (LINK) One of the fastest-growing projects in the cryptocurrency industry, Chainlink could hasten public adoption of blockchain tech. Their network provides a way to merge blockchain systems with more traditional APIs. This allows a much larger swath of digital products to leverage blockchain advantages. Chainlink’s potential did not go unnoticed –it recovered quickly and retested highs after the COVID-crash. Chainlink provides the next logical evolution for cryptocurrency. Bitcoin created the market and paved the way. Ethereum introduced smart contracts and unlocked the potential of decentralized computing. Chainlink, in turn, allows the integration of decentralized computing into traditional markets. Disclaimer:Spotlight Growth is compensated, either directly or via a third party, to provide investor relations services for its clients. Spotlight Growth creates exposure for companies through a customized marketing strategy, including design of promotional material, the drafting and editing of press releases and media placement. All information on featured companies is provided by the companies profiled, or is available from public sources. Spotlight Growth and its employees are not a Registered Investment Advisor, Broker Dealer or a member of any association for other research providers in any jurisdiction whatsoever and we are not qualified to give financial advice. The information contained herein is based on external sources that Spotlight Growth believes to be reliable, but its accuracy is not guaranteed. Spotlight Growth may create reports and content that has been compensated by a company or third-parties, or for purposes of self-marketing. Spotlight Growth was compensated three hundred and fifty dollars by third party FMW Media/Vince Caruso on behalf of BCR for the creation and dissemination of this content. This material does not represent an investment solicitation. Certain statements contained herein constitute "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements may include, without limitation, statements with respect to the Company's plans and objectives, projections, expectations and intentions. These forward-looking statements are based on current expectations, estimates and projections about the Company's industry, management's beliefs and certain assumptions made by management. The above communication, the attachments and external Internet links provided are intended for informational purposes only and are not to be interpreted by the recipient as a solicitation to participate in securities offerings. Investments referenced may not be suitable for all investors and may not be permissible in certain jurisdictions. Spotlight Growth and its affiliates, officers, directors, and employees may have bought or sold or may buy or sell shares in the companies discussed herein, which may be acquired prior, during or after the publication of these marketing materials. Spotlight Growth, its affiliates, officers, directors, and employees may sell the stock of said companies at any time and may profit in the event those shares rise in value. For more information on our disclosures, please visit: http://spotlightgrowth.com/index.php/disclosures/ Photo by Clifford Photography on Unsplash See more from Benzinga • Analyst: Nikola Is 'Prime Target For A Short Squeeze' • Bankrupt ENTREC Courts Buyers For Subsidiaries • Social Media Gun Survey © 2020 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. \|\| 3 Cryptocurrencies With Recession-Resistant Potential: Volatility continues to plague economic markets worldwide, despite intense government intervention. June 11th provided the largest drop in the Dow Jones since March, falling over 1,800 point s. As one of the longest bull markets in history comes to a close, spooked investors are looking to alternative assets. As always, some fled to the precious metals market. Gold and silver both surged as stocks crashed . Yet, if this most recent dip follows previous trends from 2020, another asset may benefit. Cryptocurrencies followed stocks during the COVID-related crash earlier this year. However, while stocks suffered severe volatility, cryptocurrency markets recovered handily . While long-time frontrunners such as Bitcoin and Ethereum led the recovery, some smaller cryptocurrencies deserve notice. Bankcoin Reserve (BCR) Bitcoin’s price action brought focus away from its usage as a digital currency. Instead, many now look to it as a store-of-value – an idea buoyed by the recent COVID crash. Bitcoin’s brand recognition and first-mover status keep it dominant, for now. Other cryptocurrencies continue to chip away at BTC through purpose-built blockchains. Bankcoin Reserve or BCR serves as a store-of-value based on physical goods . Pegged against the price per ounce of gold and offering annualized interest, BCR swerves away from volatile price action. Removing that aspect makes it attractive for use in back-end bank software. Replacing legacy banking software with immutable blockchain technology is a nearly foregone conclusion – with BCR positioned perfectly to capitalize. V-ID Token (VIDT) Essential services often require verifiable documentation. Even in a digital world, signatures hold a tremendous amount of weight. V-ID and the associated V-ID Token provide a solution to this issue. Through the establishment of documents on the V-ID blockchain , they become immutable – verified and freely referenced by all associated parties. Story continues Last year, V-ID partnered with AmSpec to provide digital verification for oil and gas inspections. Chainlink (LINK) One of the fastest-growing projects in the cryptocurrency industry, Chainlink could hasten public adoption of blockchain tech. Their network provides a way to merge blockchain systems with more traditional APIs. This allows a much larger swath of digital products to leverage blockchain advantages. Chainlink’s potential did not go unnoticed – it recovered quickly and retested highs after the COVID-crash . Chainlink provides the next logical evolution for cryptocurrency. Bitcoin created the market and paved the way. Ethereum introduced smart contracts and unlocked the potential of decentralized computing. Chainlink, in turn, allows the integration of decentralized computing into traditional markets. Disclaimer: Spotlight Growth is compensated, either directly or via a third party, to provide investor relations services for its clients. Spotlight Growth creates exposure for companies through a customized marketing strategy, including design of promotional material, the drafting and editing of press releases and media placement. All information on featured companies is provided by the companies profiled, or is available from public sources. Spotlight Growth and its employees are not a Registered Investment Advisor, Broker Dealer or a member of any association for other research providers in any jurisdiction whatsoever and we are not qualified to give financial advice. The information contained herein is based on external sources that Spotlight Growth believes to be reliable, but its accuracy is not guaranteed. Spotlight Growth may create reports and content that has been compensated by a company or third-parties, or for purposes of self-marketing. Spotlight Growth was compensated three hundred and fifty dollars by third party FMW Media/Vince Caruso on behalf of BCR for the creation and dissemination of this content. This material does not represent an investment solicitation. Certain statements contained herein constitute "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements may include, without limitation, statements with respect to the Company's plans and objectives, projections, expectations and intentions. These forward-looking statements are based on current expectations, estimates and projections about the Company's industry, management's beliefs and certain assumptions made by management. The above communication, the attachments and external Internet links provided are intended for informational purposes only and are not to be interpreted by the recipient as a solicitation to participate in securities offerings. Investments referenced may not be suitable for all investors and may not be permissible in certain jurisdictions. Spotlight Growth and its affiliates, officers, directors, and employees may have bought or sold or may buy or sell shares in the companies discussed herein, which may be acquired prior, during or after the publication of these marketing materials. Spotlight Growth, its affiliates, officers, directors, and employees may sell the stock of said companies at any time and may profit in the event those shares rise in value. For more information on our disclosures, please visit: http://spotlightgrowth.com/index.php/disclosures/ Photo by Clifford Photography on Unsplash See more from Benzinga Analyst: Nikola Is 'Prime Target For A Short Squeeze' Bankrupt ENTREC Courts Buyers For Subsidiaries Social Media Gun Survey © 2020 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. \|\| Sorry, Bloomberg: Here Are 6 Reasons Why 2020 Is a Great Year for Bitcoin: Over a recent 30-day period, the total open interest for CME bitcoin options increased more than tenfold, from $35 million on May 11 to $373 million on June 10. Moreover, open interest made a new all-time high on six consecutive days from June 5-10. Significant growth in CME futures points to rapidly growing interest by institutional investors in trading regulated bitcoin derivatives products. Despite this growth, however, CME Group has no plans to introduce additional cryptocurrency products, a spokesperson told CoinDesk. Thus for now, CME Groups cryptocurrency products will only involve bitcoin. CME, which launched its bitcoin options product only at the beginning of 2020, now represents over 20% of the global bitcoin options market measured by open interest, or the total number of outstanding derivative contracts. Its now the second-largest bitcoin options market in the world behind Panama-based Deribit, according to Skew . Related: CME Bitcoin Options Market Grew 10x in the Past Month See also: Crypto Derivatives Exchange OKEx Launches Options on Ether Growth in CMEs bitcoin options market is a strong signal that regulated institutions are exposing their books to bitcoin, said Matt Kaye, managing partner at Los Angeles-based Blockhead Capital. CME has a higher cost of capital and is closed on weekends, so anyone trading there is likely making those sacrifices because they have to. Much of CMEs growth appears to have come at the expense of Deribit. Market shares claimed by competing bitcoin derivatives markets LedgerX, Bakkt and OKEx have remained largely unchanged since January. Options arent the only bitcoin derivatives market where CME is seeing gains. In May, CMEs bitcoin futures demonstrated similarly remarkable growth , outpacing nearly every other bitcoin derivatives platform on a real and percentage growth basis. CME bitcoin futures open interest grew 29% over the last 30 days as institutional investors continue to enter the bitcoin derivatives market. Related Stories Inactive Bitcoin Supply Reaches 4-Year High, Pointing to Bullish Sentiment Bitcoin Price Drop May Be a Bear Trap, Options Market Suggests Encrypted Messaging Site Privnote Cloned to Steal Bitcoin \|\| Sorry, Bloomberg: Here Are 6 Reasons Why 2020 Is a Great Year for Bitcoin: Over a recent 30-day period, the total open interest for CME bitcoin options increased more than tenfold, from $35 million on May 11 to $373 million on June 10. Moreover, open interest made a new all-time high on six consecutive days from June 5-10. Significant growth in CME futures points to rapidly growing interest by institutional investors in trading regulatedbitcoinderivatives products. Despite this growth, however, CME Group “has no plans to introduce additional cryptocurrency products,” a spokesperson told CoinDesk. Thus for now, CME Group’s cryptocurrency products will only involve bitcoin. CME, which launched its bitcoin options product only at the beginning of 2020, now represents over 20% of the global bitcoin options market measured by open interest, or the total number of outstanding derivative contracts. It’s now the second-largest bitcoin options market in the world behind Panama-based Deribit, according toSkew. Related:CME Bitcoin Options Market Grew 10x in the Past Month See also:Crypto Derivatives Exchange OKEx Launches Options on Ether Growth in CME’s bitcoin options market is “a strong signal that regulated institutions are exposing their books to bitcoin,” said Matt Kaye, managing partner at Los Angeles-based Blockhead Capital. “CME has a higher cost of capital and is closed on weekends, so anyone trading there is likely making those sacrifices because they have to.” Much of CME’s growth appears to have come at the expense of Deribit. Market shares claimed by competing bitcoin derivatives markets LedgerX, Bakkt and OKEx have remained largely unchanged since January. Options aren’t the only bitcoin derivatives market where CME is seeing gains. In May, CME’s bitcoin futures demonstrated similarlyremarkable growth, outpacing nearly every other bitcoin derivatives platform on a real and percentage growth basis. CME bitcoin futures open interest grew 29% over the last 30 days as institutional investors continue to enter the bitcoin derivatives market. • Inactive Bitcoin Supply Reaches 4-Year High, Pointing to Bullish Sentiment • Bitcoin Price Drop May Be a Bear Trap, Options Market Suggests • Encrypted Messaging Site Privnote Cloned to Steal Bitcoin \|\| Sorry, Bloomberg: Here Are 6 Reasons Why 2020 Is a Great Year for Bitcoin: Over a recent 30-day period, the total open interest for CME bitcoin options increased more than tenfold, from $35 million on May 11 to $373 million on June 10. Moreover, open interest made a new all-time high on six consecutive days from June 5-10. Significant growth in CME futures points to rapidly growing interest by institutional investors in trading regulatedbitcoinderivatives products. Despite this growth, however, CME Group “has no plans to introduce additional cryptocurrency products,” a spokesperson told CoinDesk. Thus for now, CME Group’s cryptocurrency products will only involve bitcoin. CME, which launched its bitcoin options product only at the beginning of 2020, now represents over 20% of the global bitcoin options market measured by open interest, or the total number of outstanding derivative contracts. It’s now the second-largest bitcoin options market in the world behind Panama-based Deribit, according toSkew. Related:CME Bitcoin Options Market Grew 10x in the Past Month See also:Crypto Derivatives Exchange OKEx Launches Options on Ether Growth in CME’s bitcoin options market is “a strong signal that regulated institutions are exposing their books to bitcoin,” said Matt Kaye, managing partner at Los Angeles-based Blockhead Capital. “CME has a higher cost of capital and is closed on weekends, so anyone trading there is likely making those sacrifices because they have to.” Much of CME’s growth appears to have come at the expense of Deribit. Market shares claimed by competing bitcoin derivatives markets LedgerX, Bakkt and OKEx have remained largely unchanged since January. Options aren’t the only bitcoin derivatives market where CME is seeing gains. In May, CME’s bitcoin futures demonstrated similarlyremarkable growth, outpacing nearly every other bitcoin derivatives platform on a real and percentage growth basis. CME bitcoin futures open interest grew 29% over the last 30 days as institutional investors continue to enter the bitcoin derivatives market. • Inactive Bitcoin Supply Reaches 4-Year High, Pointing to Bullish Sentiment • Bitcoin Price Drop May Be a Bear Trap, Options Market Suggests • Encrypted Messaging Site Privnote Cloned to Steal Bitcoin \|\| Is It Possible To Profit From Crypto Trading Without Considering Tax Implications?: Traders buy the dip and sell at the peak. The ultimate premise for profitability. Investors, however, need not apply the golden rule at all times. Different horizons and projections determine divergent optimum investment strategies , due to tax-related purposes. Cryptocurrencies are an interesting investment tool that all investors shall consider, due to its unique tax regime . Let's sum up basic crypto tax fundamentals and taxable events: Cryptocurrencies are classified as property. Cryptocurrencies are considered as capital assets, yielding capital gains, and losses. Taxable events constitute: income derived from earning cryptocurrencies, using crypto as a means of transaction, (purchasing or acquiring goods and services) crypto trading, and exchanging your cryptocurrency for fiat currency. One can infer that transactions and trades are taxable only if there is a realization of capital gains or losses. Depending on the classification of your transactions and trades there are other tax repercussions. Furthermore, diversifying in terms of holding period- that is allocating proportions of your portfolio to different time horizons- increases compliance of year-end profitability objectives. For the purpose of this article, we are not going to inquire about said topics as they can seem confusing; however, there are incredible services that can solve all of your crypto tax-related problems . Rather, let’s look at an example of incorporating crypto taxing analysis in your trading strategy: For instance, if Bitcoin was bought at times of a low Spent Output Profit Ratio (SOPR) coupled with upward pressure on the Glassnode Network Index (GNI), indicating solid on-chain and network fundamentals, as an investor you should consider materializing your profit in the long-term; since tax conditions are more favorable for investments held over a period of one year. Visit Accointing.com for more information and a better understanding. Story continues Let’s consider a different scenario: as a diligent investor, you have established profit targets for the year-end, but due to COVID-19 and the economic deterioration, and an ongoing sideways trend, it seems that your profit targets are not in reach. If you decide to cut losses, avoiding further expenses and risk, and implement a prudent taxing strategy (that is, deciding to liquidate your crypto investments prior to the fiscal year-end) there will be less profit deterioration. Said losses shall be favorable for tax purposes given a decrease of your year-end taxable gains. In the end, it is a matter of understanding short-term and long-term implications and the repercussions it has on your profit objectives. Maintaining a balance between your crypto assets' holding periods is the key to profitability. Depending on your local taxation policies, investment strategy, and time horizon, you may want to hold a greater proportion of your investment for a longer period or vice versa. Photo by Stanislaw Zarychta on Unsplash See more from Benzinga Mid-Afternoon Market Update: U.S. Stocks Turn Higher; Dow Jumps Over 200 Points MJardin Is 'Turning The Corner' As A Cannabis Business, CEO Says JPMorgan Option Trader Bets .3M On Rebound © 2020 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. \|\| Is It Possible To Profit From Crypto Trading Without Considering Tax Implications?: Traders buy the dip and sell at the peak. The ultimate premise for profitability. Investors, however, need not apply the golden rule at all times. Different horizons and projections determinedivergent optimum investment strategies, due to tax-related purposes. Cryptocurrencies are an interesting investment tool that all investors shall consider, due to itsunique tax regime. Let's sum up basic crypto tax fundamentals and taxable events: • Cryptocurrencies are classified as property. • Cryptocurrencies are considered as capital assets, yielding capital gains, and losses. • Taxable events constitute: income derived from earning cryptocurrencies, using crypto as a means of transaction, (purchasing or acquiring goods and services) crypto trading, and exchanging your cryptocurrency for fiat currency. One can infer that transactions and trades are taxable only if there is a realization of capital gains or losses. Depending on theclassification of your transactions and tradesthere are other tax repercussions. Furthermore, diversifying in terms of holding period- that is allocating proportions of your portfolio to different time horizons- increases compliance of year-end profitability objectives. For the purpose of this article, we are not going to inquire about said topics as they can seem confusing; however, there are incredibleservices that can solve all of your crypto tax-related problems. Rather, let’s look at an example of incorporating crypto taxing analysis in your trading strategy: For instance, if Bitcoin was bought at times of a low Spent Output Profit Ratio (SOPR) coupled with upward pressure on the Glassnode Network Index (GNI), indicating solid on-chain and network fundamentals, as an investor you should consider materializing your profit in the long-term; since tax conditions are more favorable for investments held over a period of one year. Visit Accointing.com for more information and a better understanding. Let’s consider a different scenario: as a diligent investor, you have established profit targets for the year-end, but due to COVID-19 and the economic deterioration, and an ongoing sideways trend, it seems that your profit targets are not in reach. If you decide to cut losses, avoiding further expenses and risk, and implement a prudent taxing strategy (that is, deciding to liquidate your crypto investments prior to the fiscal year-end) there will be less profit deterioration. Said losses shall be favorable for tax purposes given a decrease of your year-end taxable gains. In the end, it is a matter of understanding short-term and long-term implications and the repercussions it has on your profit objectives. Maintaining a balance between your crypto assets' holding periods is the key to profitability. Depending on your local taxation policies, investment strategy, and time horizon, you may want to hold a greater proportion of your investment for a longer period or vice versa. Photo by Stanislaw Zarychta on Unsplash See more from Benzinga • Mid-Afternoon Market Update: U.S. Stocks Turn Higher; Dow Jumps Over 200 Points • MJardin Is 'Turning The Corner' As A Cannabis Business, CEO Says • JPMorgan Option Trader Bets .3M On Rebound © 2020 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. [Social Media Buzz] None available.	9480.25, 9411.84, 9288.02, 9332.34, 9303.63, 9648.72, 9629.66, 9313.61, 9264.81, 9162.92
Given the historical Bitcoin prices from the last 90 days, predict the next 10 daily closing prices. The historical prices are: 7354.13, 7419.29, 7418.49, 7711.11, 8424.27, 8181.39, 7951.58, 8165.01, 8192.15, 8218.46, 8180.48, 7780.44, 7624.91, 7567.15, 7434.39, 7032.85, 7068.48, 6951.80, 6753.12, 6305.80, 6568.23, 6184.71, 6295.73, 6322.69, 6297.57, 6199.71, 6308.52, 6334.73, 6580.63, 6423.76, 6506.07, 6308.53, 6488.76, 6376.71, 6534.88, 6719.96, 6763.19, 6707.26, 6884.64, 7096.28, 7047.16, 6978.23, 7037.58, 7193.25, 7272.72, 7260.06, 7361.66, 6792.83, 6529.17, 6467.07, 6225.98, 6300.86, 6329.70, 6321.20, 6351.80, 6517.31, 6512.71, 6543.20, 6517.18, 6281.20, 6371.30, 6398.54, 6519.67, 6734.95, 6721.98, 6710.63, 6595.41, 6446.47, 6495.00, 6676.75, 6644.13, 6601.96, 6625.56, 6589.62, 6556.10, 6502.59, 6576.69, 6622.48, 6588.31, 6602.95, 6652.23, 6642.64, 6585.53, 6256.24, 6274.58, 6285.99, 6290.93, 6596.54, 6596.11, 6544.43.	[Bitcoin Technical Analysis for 2018-10-17] Volume: 4088420000, RSI (14-day): 50.78, 50-day EMA: 6589.79, 200-day EMA: 7210.79 [Wider Market Context] Gold Price: 1223.70, Gold RSI: 60.44 Oil Price: 69.75, Oil RSI: 41.19 [Recent News (last 7 days)] $194 Million was Moved Using Bitcoin With $0.1 Fee, True Potential of Crypto: On October 16, a Bitcoin user moved 29,999 BTC worth $194 million with a $0.1 fee, a transaction which with banks would cost tens of thousands of dollars. An often pushed narrative against cryptocurrencies likeBitcoinandEthereumis that it is expensive to clear transactions due to fees sent to miners. However, the $194 million payment on the Bitcoin blockchain demonstrates the potential of consensus currencies to optimize cross-border payments significantly. Transferwise is a UK-based multi-billion dollar firm that eliminates hidden fees in bank transfers. On the platform, users can send small to large payments through bank accounts with substantially lower fees. However, even on a platform like Transferwise, to send over $1 million, it costs over $7,500 in transaction fees. That means, through wire transfers and conventional banking methods, tens of thousands of dollars are required to clear a transaction that is larger than $1 million. Percentage-wise, $7,500 is less than 1 percent of $1 million, and in that sense, a $7,500 fee is cheap. But, on the Bitcoin network, which is supposedly highly inefficient in processing payments, it costs less than $0.1 to clear a $194 million transaction. On October 14, publicly acclaimed cryptocurrency critic Nouriel Roubini, an economist and professor at Stern School,claimedthat it costs $60 to process a Bitcoin transaction and as such, it costs $63 to purchase a Starbucks latte that costs $3, using Bitcoin. “So the cost per transaction of bitcoin is literally $60. So if I were to buy a $3 latte at Starbucks I would have to pay $63 to get it! So the myth of a ‘Brilliant new technology that reduces the vast fees of legacy financial systems!’ turns out to be a Big Fat Lie!” Nouriel claimed. In response, respected cryptocurrency investor and Blocktower co-founder Ari Paul stated that the transaction fee of Bitcoin, which is less than $0.1, is publicly verifiable on the blockchain. “BTC fees are less than $0.10, easily verifiable. If you value truth, you’d provide a public correction. If your goal is to mislead people with simply false statements, carry on. There’s nothing to research. Fees are publicly viewable from many sources (googling it works.) I find it better not to provide a specific source because then regardless of source, the source gets attacked,” Paul noted. As scalability of public blockchain networks improves with the integration of both on-chain andsecond-layer scaling solutions, cryptocurrencies will be able to handle small payments with higher efficiency. But, in the mid-term, given the ability of the blockchain to process large-scale payments at the same cost of a small transaction, it is highly likely that cryptocurrencies will gain wide acceptance by investors and firms in the offshore banking market, a $30 trillion industry that relies on financial institutions to clear large transactions. Spending $0.1 to $1 for a $5 to $10 transaction could be inefficient and impractical. However, spending the same fee to process multi-million dollar transactions provide cryptocurrencies a clear edge over legacy systems. Images from Shutterstock The post$194 Million was Moved Using Bitcoin With $0.1 Fee, True Potential of Cryptoappeared first onCCN. \|\| $194 Million was Moved Using Bitcoin With $0.1 Fee, True Potential of Crypto: On October 16, a Bitcoin user moved 29,999 BTC worth $194 million with a $0.1 fee, a transaction which with banks would cost tens of thousands of dollars. An often pushed narrative against cryptocurrencies likeBitcoinandEthereumis that it is expensive to clear transactions due to fees sent to miners. However, the $194 million payment on the Bitcoin blockchain demonstrates the potential of consensus currencies to optimize cross-border payments significantly. Transferwise is a UK-based multi-billion dollar firm that eliminates hidden fees in bank transfers. On the platform, users can send small to large payments through bank accounts with substantially lower fees. However, even on a platform like Transferwise, to send over $1 million, it costs over $7,500 in transaction fees. That means, through wire transfers and conventional banking methods, tens of thousands of dollars are required to clear a transaction that is larger than $1 million. Percentage-wise, $7,500 is less than 1 percent of $1 million, and in that sense, a $7,500 fee is cheap. But, on the Bitcoin network, which is supposedly highly inefficient in processing payments, it costs less than $0.1 to clear a $194 million transaction. On October 14, publicly acclaimed cryptocurrency critic Nouriel Roubini, an economist and professor at Stern School,claimedthat it costs $60 to process a Bitcoin transaction and as such, it costs $63 to purchase a Starbucks latte that costs $3, using Bitcoin. “So the cost per transaction of bitcoin is literally $60. So if I were to buy a $3 latte at Starbucks I would have to pay $63 to get it! So the myth of a ‘Brilliant new technology that reduces the vast fees of legacy financial systems!’ turns out to be a Big Fat Lie!” Nouriel claimed. In response, respected cryptocurrency investor and Blocktower co-founder Ari Paul stated that the transaction fee of Bitcoin, which is less than $0.1, is publicly verifiable on the blockchain. “BTC fees are less than $0.10, easily verifiable. If you value truth, you’d provide a public correction. If your goal is to mislead people with simply false statements, carry on. There’s nothing to research. Fees are publicly viewable from many sources (googling it works.) I find it better not to provide a specific source because then regardless of source, the source gets attacked,” Paul noted. As scalability of public blockchain networks improves with the integration of both on-chain andsecond-layer scaling solutions, cryptocurrencies will be able to handle small payments with higher efficiency. But, in the mid-term, given the ability of the blockchain to process large-scale payments at the same cost of a small transaction, it is highly likely that cryptocurrencies will gain wide acceptance by investors and firms in the offshore banking market, a $30 trillion industry that relies on financial institutions to clear large transactions. Spending $0.1 to $1 for a $5 to $10 transaction could be inefficient and impractical. However, spending the same fee to process multi-million dollar transactions provide cryptocurrencies a clear edge over legacy systems. Images from Shutterstock The post$194 Million was Moved Using Bitcoin With $0.1 Fee, True Potential of Cryptoappeared first onCCN. \|\| $194 Million was Moved Using Bitcoin With $0.1 Fee, True Potential of Crypto: bitcoin transaction fee: $194 million in BTC for 10 cents On October 16, a Bitcoin user moved 29,999 BTC worth $194 million with a $0.1 fee, a transaction which with banks would cost tens of thousands of dollars. An often pushed narrative against cryptocurrencies like Bitcoin and Ethereum is that it is expensive to clear transactions due to fees sent to miners. However, the $194 million payment on the Bitcoin blockchain demonstrates the potential of consensus currencies to optimize cross-border payments significantly. $1 Million Through a Bank Costs $10,000+ Transferwise is a UK-based multi-billion dollar firm that eliminates hidden fees in bank transfers. On the platform, users can send small to large payments through bank accounts with substantially lower fees. However, even on a platform like Transferwise, to send over $1 million, it costs over $7,500 in transaction fees. That means, through wire transfers and conventional banking methods, tens of thousands of dollars are required to clear a transaction that is larger than $1 million. Percentage-wise, $7,500 is less than 1 percent of $1 million, and in that sense, a $7,500 fee is cheap. But, on the Bitcoin network, which is supposedly highly inefficient in processing payments, it costs less than $0.1 to clear a $194 million transaction. bitcoin On October 14, publicly acclaimed cryptocurrency critic Nouriel Roubini, an economist and professor at Stern School, claimed that it costs $60 to process a Bitcoin transaction and as such, it costs $63 to purchase a Starbucks latte that costs $3, using Bitcoin. “So the cost per transaction of bitcoin is literally $60. So if I were to buy a $3 latte at Starbucks I would have to pay $63 to get it! So the myth of a ‘Brilliant new technology that reduces the vast fees of legacy financial systems!’ turns out to be a Big Fat Lie!” Nouriel claimed. In response, respected cryptocurrency investor and Blocktower co-founder Ari Paul stated that the transaction fee of Bitcoin, which is less than $0.1, is publicly verifiable on the blockchain. Story continues “BTC fees are less than $0.10, easily verifiable. If you value truth, you’d provide a public correction. If your goal is to mislead people with simply false statements, carry on. There’s nothing to research. Fees are publicly viewable from many sources (googling it works.) I find it better not to provide a specific source because then regardless of source, the source gets attacked,” Paul noted. Crypto Could Crack Offshore Banking Market First As scalability of public blockchain networks improves with the integration of both on-chain and second-layer scaling solutions , cryptocurrencies will be able to handle small payments with higher efficiency. But, in the mid-term, given the ability of the blockchain to process large-scale payments at the same cost of a small transaction, it is highly likely that cryptocurrencies will gain wide acceptance by investors and firms in the offshore banking market, a $30 trillion industry that relies on financial institutions to clear large transactions. Spending $0.1 to $1 for a $5 to $10 transaction could be inefficient and impractical. However, spending the same fee to process multi-million dollar transactions provide cryptocurrencies a clear edge over legacy systems. Images from Shutterstock The post $194 Million was Moved Using Bitcoin With $0.1 Fee, True Potential of Crypto appeared first on CCN . \|\| Cryptocurrencies are entering a bull market, as stocks turn bearish: A day after financial services giant Fidelity leaped intocryptocurrencies, fund manager Mark Yusko is predicting it could be the next booming market. “We think that the equity markets are the beginnings of a bear market,” he told FOX Business’ Maria Bartiromo on Tuesday. “We think the crypto market is the beginning of a bull market.” The 72-year-old firm which manages $7.2 trillion in client assets, launched a new business dubbed Fidelity Digital Asset Services on Monday. “Our goal is to make digitally-native assets, such as bitcoin, more accessible to investors,” said Abigail P. Johnson, Chairman and CEO of Fidelity Investments in a statement. “That is a huge development,” said Yusko. “And what it says is that the great wall of money. The institutional investors are coming for this asset and it is the first alternative asset really in my career that delivers on the promise.” Fidelity is entering the market as the price of Bitcoin hovers around the $6,500 level down from its high of $20,000 reached earlier this year. And despite skeptics, sagging prices, and reports of scams, Yusko, a “big believer” in sound money argues cryptocurrencies yield better returns—especially bitcoin. “Love bitcoin—we think that is digital gold,” he said. “Ultimately [it] may be a reserve currency.” Yusko added that he sees Ethereum in the same way as the World Wide Web. “Ethereum is more of a protocol, like a platform, it’s like the www. Of the internet of value or what I want to dub the trust net,” he said. Related Articles • How Much is Michael Phelps Worth? • Ryan Lochte's Brand Value Sinks Amid Rio Scandal • Here's How You Get a Body Like An Olympian \|\| Cryptocurrencies are entering a bull market, as stocks turn bearish: A day after financial services giant Fidelity leaped into cryptocurrencies , fund manager Mark Yusko is predicting it could be the next booming market. “We think that the equity markets are the beginnings of a bear market,” he told FOX Business’ Maria Bartiromo on Tuesday. “We think the crypto market is the beginning of a bull market.” The 72-year-old firm which manages $7.2 trillion in client assets, launched a new business dubbed Fidelity Digital Asset Services on Monday. “Our goal is to make digitally-native assets, such as bitcoin, more accessible to investors,” said Abigail P. Johnson, Chairman and CEO of Fidelity Investments in a statement. “That is a huge development,” said Yusko. “And what it says is that the great wall of money. The institutional investors are coming for this asset and it is the first alternative asset really in my career that delivers on the promise.” Fidelity is entering the market as the price of Bitcoin hovers around the $6,500 level down from its high of $20,000 reached earlier this year. And despite skeptics, sagging prices, and reports of scams, Yusko, a “big believer” in sound money argues cryptocurrencies yield better returns— especially bitcoin . “Love bitcoin—we think that is digital gold,” he said. “Ultimately [it] may be a reserve currency.” Yusko added that he sees Ethereum in the same way as the World Wide Web. “Ethereum is more of a protocol, like a platform, it’s like the www. Of the internet of value or what I want to dub the trust net,” he said. Related Articles How Much is Michael Phelps Worth? Ryan Lochte's Brand Value Sinks Amid Rio Scandal Here's How You Get a Body Like An Olympian \|\| Spread between BTC/USD and BTC/USDT Crosses $300: The imbalanced peg between the US Dollar and Tether LLC’s USDT has resulted in a $300-spread in Bitcoin price. At the press time, the aggregated Bitcoin-to-dollar exchange rate on non-Tether exchanges is approximately 6430-fiat. Meanwhile, on Tether exchanges like BitFinex, the same forex rate is above 6700-fiat. The strange trading activity, which started surfacing on Monday, has seen traders getting their money out of USDT however possible. The exchanges that offer USDT liquidity, including BitFinex and Binance, therefore experienced a massive drop in USDT value against its quote currencies, which is mainly Bitcoin, USD, and Ethereum. Simultaneously, the exchanges that didn’t feature USDT experienced their Bitcoin rates driven by increased arbitrage activity. Traders purchased the digital currency at a lower price, transferred it to the wallets of Tether-enabled crypto exchanges, and later shorted their holdings either for other stablecoins, the USDT itself, or the dollar. The USDT decline itself surfaced owing to growingcommunity mistrust of Tetherafter its prime exchange BitFinex dropped Noble Coin as its banking partner, eventually becoming insolvent, according to reports. The exchange, however, refuted the rumors and said its withdrawals were working fine. Meanwhile, the community continues to believe that Tether does not have an adequate amount of dollars to back its USDT supply, about which BitFinex, Tether’s partner exchange, is already aware. And while USDT is one of the highest volumed cryptocurrencies, the exchange couldn’t handle the capital flight towards Bitcoin, resulting in its stark drop and Bitcoin’s steep rise. BitFinex in its latest statementclarifiedthat traders on its platform trade Bitcoins against the dollar, not USDT. “USDT on Bitfinex is used as a transport layer, used if a trader wishes to deposit or withdraw in e.g. Omni USDT or Ethereum USDT. Until the trader specifically chooses to transport their fiat in Tether-denominated USD, all their fiat holdings on Bitfinex will be held in the form of fiat USD.” Believing what BitFinex stated, traders were genuinely moving their fiat holdings into Bitcoin on its trading platform, buying the digital currency at a prime value. Hence, the Bitcoin-to-dollar exchange rate went up enormously. The spread between Tether and non-Tether exchange is expected to stay as the confusion mounts. The community has asked Tether, LLC and BitFinex both to have their balance sheets audited and end the FUD once for all. The question is now whether traders are exchanging their digital assets for real fiat funds or for a currency that may or may not be artificially pegged to the dollar. Tether and BitFinex haven’t confirmed whether they would go through an independent audit or not. Featured Image from Shutterstock. Charts fromTradingView. The postSpread between BTC/USD and BTC/USDT Crosses $300appeared first onCCN. \|\| Spread between BTC/USD and BTC/USDT Crosses $300: The imbalanced peg between the US Dollar and Tether LLC’s USDT has resulted in a $300-spread in Bitcoin price. At the press time, the aggregated Bitcoin-to-dollar exchange rate on non-Tether exchanges is approximately 6430-fiat. Meanwhile, on Tether exchanges like BitFinex, the same forex rate is above 6700-fiat. The strange trading activity, which started surfacing on Monday, has seen traders getting their money out of USDT however possible. The exchanges that offer USDT liquidity, including BitFinex and Binance, therefore experienced a massive drop in USDT value against its quote currencies, which is mainly Bitcoin, USD, and Ethereum. Simultaneously, the exchanges that didn’t feature USDT experienced their Bitcoin rates driven by increased arbitrage activity. Traders purchased the digital currency at a lower price, transferred it to the wallets of Tether-enabled crypto exchanges, and later shorted their holdings either for other stablecoins, the USDT itself, or the dollar. The USDT decline itself surfaced owing to growingcommunity mistrust of Tetherafter its prime exchange BitFinex dropped Noble Coin as its banking partner, eventually becoming insolvent, according to reports. The exchange, however, refuted the rumors and said its withdrawals were working fine. Meanwhile, the community continues to believe that Tether does not have an adequate amount of dollars to back its USDT supply, about which BitFinex, Tether’s partner exchange, is already aware. And while USDT is one of the highest volumed cryptocurrencies, the exchange couldn’t handle the capital flight towards Bitcoin, resulting in its stark drop and Bitcoin’s steep rise. BitFinex in its latest statementclarifiedthat traders on its platform trade Bitcoins against the dollar, not USDT. “USDT on Bitfinex is used as a transport layer, used if a trader wishes to deposit or withdraw in e.g. Omni USDT or Ethereum USDT. Until the trader specifically chooses to transport their fiat in Tether-denominated USD, all their fiat holdings on Bitfinex will be held in the form of fiat USD.” Believing what BitFinex stated, traders were genuinely moving their fiat holdings into Bitcoin on its trading platform, buying the digital currency at a prime value. Hence, the Bitcoin-to-dollar exchange rate went up enormously. The spread between Tether and non-Tether exchange is expected to stay as the confusion mounts. The community has asked Tether, LLC and BitFinex both to have their balance sheets audited and end the FUD once for all. The question is now whether traders are exchanging their digital assets for real fiat funds or for a currency that may or may not be artificially pegged to the dollar. Tether and BitFinex haven’t confirmed whether they would go through an independent audit or not. Featured Image from Shutterstock. Charts fromTradingView. The postSpread between BTC/USD and BTC/USDT Crosses $300appeared first onCCN. \|\| Spread between BTC/USD and BTC/USDT Crosses $300: bitcoin trading The imbalanced peg between the US Dollar and Tether LLC’s USDT has resulted in a $300-spread in Bitcoin price. At the press time, the aggregated Bitcoin-to-dollar exchange rate on non-Tether exchanges is approximately 6430-fiat. Meanwhile, on Tether exchanges like BitFinex, the same forex rate is above 6700-fiat. The strange trading activity, which started surfacing on Monday, has seen traders getting their money out of USDT however possible. The exchanges that offer USDT liquidity, including BitFinex and Binance, therefore experienced a massive drop in USDT value against its quote currencies, which is mainly Bitcoin, USD, and Ethereum. Simultaneously, the exchanges that didn’t feature USDT experienced their Bitcoin rates driven by increased arbitrage activity. Traders purchased the digital currency at a lower price, transferred it to the wallets of Tether-enabled crypto exchanges, and later shorted their holdings either for other stablecoins, the USDT itself, or the dollar. The USDT decline itself surfaced owing to growing community mistrust of Tether after its prime exchange BitFinex dropped Noble Coin as its banking partner, eventually becoming insolvent, according to reports. The exchange, however, refuted the rumors and said its withdrawals were working fine. USDT FUD Meanwhile, the community continues to believe that Tether does not have an adequate amount of dollars to back its USDT supply, about which BitFinex, Tether’s partner exchange, is already aware. And while USDT is one of the highest volumed cryptocurrencies, the exchange couldn’t handle the capital flight towards Bitcoin, resulting in its stark drop and Bitcoin’s steep rise. BitFinex in its latest statement clarified that traders on its platform trade Bitcoins against the dollar, not USDT. “USDT on Bitfinex is used as a transport layer, used if a trader wishes to deposit or withdraw in e.g. Omni USDT or Ethereum USDT. Until the trader specifically chooses to transport their fiat in Tether-denominated USD, all their fiat holdings on Bitfinex will be held in the form of fiat USD.” Believing what BitFinex stated, traders were genuinely moving their fiat holdings into Bitcoin on its trading platform, buying the digital currency at a prime value. Hence, the Bitcoin-to-dollar exchange rate went up enormously. Community Demanding Audit The spread between Tether and non-Tether exchange is expected to stay as the confusion mounts. The community has asked Tether, LLC and BitFinex both to have their balance sheets audited and end the FUD once for all. The question is now whether traders are exchanging their digital assets for real fiat funds or for a currency that may or may not be artificially pegged to the dollar. Story continues Tether and BitFinex haven’t confirmed whether they would go through an independent audit or not. Featured Image from Shutterstock. Charts from TradingView . The post Spread between BTC/USD and BTC/USDT Crosses $300 appeared first on CCN . View comments \|\| How to Create a Blockchain Network for Business and Not Screw Up. FutureNet Project Founder Roman Ziemian Shares the Secret of Success: FutureNet is a multifunctional platform specialized in innovative technologies for business online promotion. The project introduces an improved business model that unites the best of the blockchain and MLM worlds. FutureNet network was founded in 2014, the audience of the project already numbers over 3,5 mln users. FutureNet project founder Roman Ziemian shares his rules of doing business and explains how a life position of a leader affects the project results. What rules should be followed by entrepreneurs who create a business from scratch? First of all, you should always look at the business from a global and timing perspective. Create a product that will be in demand among society at any time and place in the world, develop it in accordance with market changes. Don’t be afraid to do something, but don’t forget about the risks – no matter how successful the project is, be ready to lose the money you’ve invested. Speaking of network business, I think that it should be treated as your own family. You grow and develop together with partners and you move towards the success for a common cause. How did the history of the FutureNet project begin? When I met my business partner Stephan Morgenstern, the blockchain topic was only at the start of its development. Besides, considering a great experience that Stephan has in network marketing we couldn’t pass by this sector and decided to create an improved and modern MLM business model that meets the challenges of today, opens up the potential of users on the Internet and gives them the opportunity to earn. Why did you choose the EU for doing business, Poland in particularly? I was born in Poland and when I met Stephan we’ve decided together that it will be the best place for the start. European legislative base is very strong and at the same time allows owners to freely conduct and develop their own business. Besides, the EU has a code of laws regarding frauds, corruption, money laundering, violation of which has serious consequences for the company. This way ensure the security of users personal information, their financial assets and show that our business is not a shallow but an honest project in which anyone can participate. Now we also have offices in England, Dubai, and Hong Kong. Story continues The project audience already numbers over 3,5 mln users in 190 countries in the world. How did you manage to do it? We’ve created a business platform that unites unique blockchain technologies and a classic MLM. It’s not a secret that it is possible to earn in MLM business. We went further and decided to improve the model of conducting network business and give users more opportunities to make additional money. You can earn in network marketing. Let’s have a look at Mary Kay. Just think about it – the company was created in 1963 and already has over 3 mln employees! There are many stories of success in this company and other leaders in the network marketing and they are all true. It’s important to understand that any result depends only on you. The amount of earning in the project directly connected with the work made by a user. Projects that promise you million for nothing are scams. Nothing costs more than something that’s free. How to distinguish MLM projects from financial pyramids? Unfortunately, financial pyramids still exist and it’s most of the time difficult to distinguish worthwhile projects from frauds. Even though people can access great opportunities of the technological world and they are more cautious about startups that enter the market, most of them still can fall for shallow projects. MLM business has proved for years that anyone willing to earn can do so but certain efforts should be applied. Despite the fact that financial pyramids are developing and coming up with new fraud schemes, there are several indicators which can help to distinguish them from MLM projects. One of the main difference that network marketing has against financial pyramids is a product developed and produced by the company. The product should be in demand among users, bring benefits, help to build and develop existing business. In FutureNet we are mainly focused on our users. For example, crypto wallet FNWallet is used for safe transactions and storing cryptocurrencies. Users can assess 13 categories with thousands of products on online trading platform 24BAS. Cloud storage FutureCloud allows storing the information in the cloud and sharing it online. One of the latest product developed by FutureNet – an advertising network BannersApp where users see ads when unlocking their smartphones, while brands can customize their banners in accordance with the characteristics of potential clients. Besides, you should pay attention to the fact that financial pyramids usually appear in the market as fast as they will disappear afterwards and don’t offer any real products, only promise you enormous earnings from nothing. Such companies should be avoided. What do you think about such popular topic as cryptocurrencies, FuturoCoin in particular? Do you think that founders have made the idea of “the coin of the future” to come true? The cryptocurrency market was at the peak of its popularity in 2017, in particular, the leading coins Bitcoin, Ethereum and Ripple – this is when FutureNet team has thought of creating own cryptocurrency. It was a big step for FutureNet as with the launch of FuturoCoin they’ve opened a whole new range of opportunities for network users. A team of real professionals worked on creating the coin, its rate already exceeds $12 and holders are willingly trading it on cryptocurrency exchanges. Transactions in FuturoCoin take 4 seconds and an additional protection from double-spending was developed. Users can set up to 10 recipients within one transaction, the fee is fixed and doesn’t depend on the number of addresses. FuturoCoin holders can assess a wide range of opportunities for using the coin in the business and everyday lives. You can already pay with FuturoCoin in FutureNet cafes located in Kiev, Wroclaw, and Warsaw. FutureNet is actively supporting sports. What does it mean to you? Social responsibility of owners and participant is of the indicators of a successful business. Your business should participate in the life of society and be useful. FutureNet was created for people at the first place and the communication with them is very important to us – this is why the project has so many in common with the social network. Our new project – FutureNet Sport is a part of FutureNet network and is actively participating in the lives of sports teams and events. We’ve already become partners with a German football club VfB Stuttgart and a Polish basketball FutureNet WKS Śląsk Wrocław, and have also participated in such event like Shanghai International Legends Stars Tournaments 2018, Deutschland Tour 2018 on cycling and many others. The project has not bypassed quite an important question of charity. What role does it play in FutureNet? I and Stephan take charity very seriously and have founded an organization called FutureNet Foundation. Thanks to the participants we’ve recently managed to raise money on a surgery for an 8-years girl Wictoria from Poland and have already helped many other kids. Together with the foundation, we want to help as many kids as possible and to make the world brighter and better for them. In June, I and Stephan have become partners with IIMSAM organization and the United Nations. The main goal of IIMSAM is to fight against cancer and the global hunger problem. We can’t imagine how hard it can be for women to fight breast cancer but we want to do our best to support them in such a hard time and give them an opportunity to feel strong and confident. At the moment Stephan is the only IIMSAM ambassador in Germany and me – in Poland. This cooperation plays a great role in our lives and the life of the project. We believe that together FutureNet and IIMSAM can do more for people who really need help and support. This article was originally posted on FX Empire More From FXEMPIRE: USDT Sell-Off Briefly Breathed Life Into Bitcoin (BTC) USD/CAD Daily Price Forecast – USD/CAD Breaches 1.29 Handle on Weak US Greenback in Broad Market Global Stocks Mostly Higher, Oil in Focus on US-Saudi Tensions Natural Gas Price Fundamental Daily Forecast – Trader Reaction to $3.306 Will Determine Today’s Direction E-mini NASDAQ-100 Index (NQ) Futures Technical Analysis – October 16, 2018 Forecast USD/JPY Full Bearish Continuation Below 111.63 \|\| How to Create a Blockchain Network for Business and Not Screw Up. FutureNet Project Founder Roman Ziemian Shares the Secret of Success: FutureNet is a multifunctional platform specialized in innovative technologies for business online promotion. The project introduces an improved business model that unites the best of the blockchain and MLM worlds. FutureNet network was founded in 2014, the audience of the project already numbers over 3,5 mln users. FutureNet project founder Roman Ziemian shares his rules of doing business and explains how a life position of a leader affects the project results. What rules should be followed by entrepreneurs who create a business from scratch? First of all, you should always look at the business from a global and timing perspective. Create a product that will be in demand among society at any time and place in the world, develop it in accordance with market changes. Don’t be afraid to do something, but don’t forget about the risks – no matter how successful the project is, be ready to lose the money you’ve invested. Speaking of network business, I think that it should be treated as your own family. You grow and develop together with partners and you move towards the success for a common cause. How did the history of the FutureNet project begin? When I met my business partner Stephan Morgenstern, the blockchain topic was only at the start of its development. Besides, considering a great experience that Stephan has in network marketing we couldn’t pass by this sector and decided to create an improved and modern MLM business model that meets the challenges of today, opens up the potential of users on the Internet and gives them the opportunity to earn. Why did you choose the EU for doing business, Poland in particularly? I was born in Poland and when I met Stephan we’ve decided together that it will be the best place for the start. European legislative base is very strong and at the same time allows owners to freely conduct and develop their own business. Besides, the EU has a code of laws regarding frauds, corruption, money laundering, violation of which has serious consequences for the company. This way ensure the security of users personal information, their financial assets and show that our business is not a shallow but an honest project in which anyone can participate. Now we also have offices in England, Dubai, and Hong Kong. Story continues The project audience already numbers over 3,5 mln users in 190 countries in the world. How did you manage to do it? We’ve created a business platform that unites unique blockchain technologies and a classic MLM. It’s not a secret that it is possible to earn in MLM business. We went further and decided to improve the model of conducting network business and give users more opportunities to make additional money. You can earn in network marketing. Let’s have a look at Mary Kay. Just think about it – the company was created in 1963 and already has over 3 mln employees! There are many stories of success in this company and other leaders in the network marketing and they are all true. It’s important to understand that any result depends only on you. The amount of earning in the project directly connected with the work made by a user. Projects that promise you million for nothing are scams. Nothing costs more than something that’s free. How to distinguish MLM projects from financial pyramids? Unfortunately, financial pyramids still exist and it’s most of the time difficult to distinguish worthwhile projects from frauds. Even though people can access great opportunities of the technological world and they are more cautious about startups that enter the market, most of them still can fall for shallow projects. MLM business has proved for years that anyone willing to earn can do so but certain efforts should be applied. Despite the fact that financial pyramids are developing and coming up with new fraud schemes, there are several indicators which can help to distinguish them from MLM projects. One of the main difference that network marketing has against financial pyramids is a product developed and produced by the company. The product should be in demand among users, bring benefits, help to build and develop existing business. In FutureNet we are mainly focused on our users. For example, crypto wallet FNWallet is used for safe transactions and storing cryptocurrencies. Users can assess 13 categories with thousands of products on online trading platform 24BAS. Cloud storage FutureCloud allows storing the information in the cloud and sharing it online. One of the latest product developed by FutureNet – an advertising network BannersApp where users see ads when unlocking their smartphones, while brands can customize their banners in accordance with the characteristics of potential clients. Besides, you should pay attention to the fact that financial pyramids usually appear in the market as fast as they will disappear afterwards and don’t offer any real products, only promise you enormous earnings from nothing. Such companies should be avoided. What do you think about such popular topic as cryptocurrencies, FuturoCoin in particular? Do you think that founders have made the idea of “the coin of the future” to come true? The cryptocurrency market was at the peak of its popularity in 2017, in particular, the leading coins Bitcoin, Ethereum and Ripple – this is when FutureNet team has thought of creating own cryptocurrency. It was a big step for FutureNet as with the launch of FuturoCoin they’ve opened a whole new range of opportunities for network users. A team of real professionals worked on creating the coin, its rate already exceeds $12 and holders are willingly trading it on cryptocurrency exchanges. Transactions in FuturoCoin take 4 seconds and an additional protection from double-spending was developed. Users can set up to 10 recipients within one transaction, the fee is fixed and doesn’t depend on the number of addresses. FuturoCoin holders can assess a wide range of opportunities for using the coin in the business and everyday lives. You can already pay with FuturoCoin in FutureNet cafes located in Kiev, Wroclaw, and Warsaw. FutureNet is actively supporting sports. What does it mean to you? Social responsibility of owners and participant is of the indicators of a successful business. Your business should participate in the life of society and be useful. FutureNet was created for people at the first place and the communication with them is very important to us – this is why the project has so many in common with the social network. Our new project – FutureNet Sport is a part of FutureNet network and is actively participating in the lives of sports teams and events. We’ve already become partners with a German football club VfB Stuttgart and a Polish basketball FutureNet WKS Śląsk Wrocław, and have also participated in such event like Shanghai International Legends Stars Tournaments 2018, Deutschland Tour 2018 on cycling and many others. The project has not bypassed quite an important question of charity. What role does it play in FutureNet? I and Stephan take charity very seriously and have founded an organization called FutureNet Foundation. Thanks to the participants we’ve recently managed to raise money on a surgery for an 8-years girl Wictoria from Poland and have already helped many other kids. Together with the foundation, we want to help as many kids as possible and to make the world brighter and better for them. In June, I and Stephan have become partners with IIMSAM organization and the United Nations. The main goal of IIMSAM is to fight against cancer and the global hunger problem. We can’t imagine how hard it can be for women to fight breast cancer but we want to do our best to support them in such a hard time and give them an opportunity to feel strong and confident. At the moment Stephan is the only IIMSAM ambassador in Germany and me – in Poland. This cooperation plays a great role in our lives and the life of the project. We believe that together FutureNet and IIMSAM can do more for people who really need help and support. This article was originally posted on FX Empire More From FXEMPIRE: USDT Sell-Off Briefly Breathed Life Into Bitcoin (BTC) USD/CAD Daily Price Forecast – USD/CAD Breaches 1.29 Handle on Weak US Greenback in Broad Market Global Stocks Mostly Higher, Oil in Focus on US-Saudi Tensions Natural Gas Price Fundamental Daily Forecast – Trader Reaction to $3.306 Will Determine Today’s Direction E-mini NASDAQ-100 Index (NQ) Futures Technical Analysis – October 16, 2018 Forecast USD/JPY Full Bearish Continuation Below 111.63 \|\| Crypto firm Coinbase is opening a Dublin office as 'Plan B' for Brexit: puppies in the Coinbase office Glassdoor/Coinbase Coinbase, one of the most prominent cryptocurrency exchanges, has announced plans to open an office in Ireland's capital, Dublin. The announcement is part of the company's contingency planning for a no-deal Brexit. "As we plan for all eventualities, it’s important that we continue servicing our customers across Europe, and Ireland would be our preferred choice there if it comes to it," UK CEO Zeeshan Feroz said. Coinbase, one of the most prominent cryptocurrency exchanges, has announced plans to open an office in Ireland's capital, Dublin, as it makes contingency plans for Brexit. The exchange says it is opening the Dublin office partly to serve rising demand from the European Union, but also as a means of ensuring it can keep all of its operations going in the event of no deal being reached between Britain and the EU during Brexit talks. "To begin with we’re housing a significant support team there, and we’re looking to capitalise on the talent pool that’s available to us in Ireland and hire other folks," Zeeshan Feroz, Coinbase's UK CEO told The Guardian. "It is also a plan B for Brexit," Feroz added. "As we plan for all eventualities, it’s important that we continue servicing our customers across Europe , and Ireland would be our preferred choice there if it comes to it." Up until now, relocation of offices and staff to EU27 countries has largely been limited to major financial institutions, with the likes of Barclays and Bank of America Merill Lynch both announcing plans to move staff to Dublin, and many other firms shifting staff to cities including Paris and Frankfurt. Crypto companies, however, have been less forward in their contingency planning. Feroz said that Coinbase's move reflects the fact that it is regulated by the Financial Conduct Authority as a financial institution. "Clearly as a regulated financial institution, if we don’t have access to passporting, we have to look for alternatives," he said. Story continues Passporting rules allow EU finance companies to sell their services across the 28-member bloc with a local license, rather than getting a license to operate in each member country where it does business. The rights are tied strongly to membership of the European single market, and as a result will be lost once the UK drops out of the EU. The threat of losing passporting rights is the biggest concern for the finance industry, and has been the main driver in firms moving EU jobs to cities outside the UK. NOW WATCH: What activated charcoal actually does to your body See Also: I've taken AncestryDNA, 23andMe, and National Geographic genetics tests — here's how to choose one to try The 20 best countries around the world to live as an expat, ranked Bitcoin tanks as cryptocurrencies join in global market bloodbath SEE ALSO: 10 things you need to know in markets today \|\| Crypto firm Coinbase is opening a Dublin office as 'Plan B' for Brexit: puppies in the Coinbase office Glassdoor/Coinbase Coinbase, one of the most prominent cryptocurrency exchanges, has announced plans to open an office in Ireland's capital, Dublin. The announcement is part of the company's contingency planning for a no-deal Brexit. "As we plan for all eventualities, it’s important that we continue servicing our customers across Europe, and Ireland would be our preferred choice there if it comes to it," UK CEO Zeeshan Feroz said. Coinbase, one of the most prominent cryptocurrency exchanges, has announced plans to open an office in Ireland's capital, Dublin, as it makes contingency plans for Brexit. The exchange says it is opening the Dublin office partly to serve rising demand from the European Union, but also as a means of ensuring it can keep all of its operations going in the event of no deal being reached between Britain and the EU during Brexit talks. "To begin with we’re housing a significant support team there, and we’re looking to capitalise on the talent pool that’s available to us in Ireland and hire other folks," Zeeshan Feroz, Coinbase's UK CEO told The Guardian. "It is also a plan B for Brexit," Feroz added. "As we plan for all eventualities, it’s important that we continue servicing our customers across Europe , and Ireland would be our preferred choice there if it comes to it." Up until now, relocation of offices and staff to EU27 countries has largely been limited to major financial institutions, with the likes of Barclays and Bank of America Merill Lynch both announcing plans to move staff to Dublin, and many other firms shifting staff to cities including Paris and Frankfurt. Crypto companies, however, have been less forward in their contingency planning. Feroz said that Coinbase's move reflects the fact that it is regulated by the Financial Conduct Authority as a financial institution. "Clearly as a regulated financial institution, if we don’t have access to passporting, we have to look for alternatives," he said. Story continues Passporting rules allow EU finance companies to sell their services across the 28-member bloc with a local license, rather than getting a license to operate in each member country where it does business. The rights are tied strongly to membership of the European single market, and as a result will be lost once the UK drops out of the EU. The threat of losing passporting rights is the biggest concern for the finance industry, and has been the main driver in firms moving EU jobs to cities outside the UK. NOW WATCH: What activated charcoal actually does to your body See Also: I've taken AncestryDNA, 23andMe, and National Geographic genetics tests — here's how to choose one to try The 20 best countries around the world to live as an expat, ranked Bitcoin tanks as cryptocurrencies join in global market bloodbath SEE ALSO: 10 things you need to know in markets today \|\| Crypto exchange Coinbase opens Dublin office as Brexit looms: By Tom Wilson LONDON (Reuters) - Cryptocurrency exchange Coinbase has opened an office in Dublin, it said on Tuesday, joining the growing ranks of banks and financial firms with major British businesses developing European Union outposts as Britain's exit from the bloc looms. San Francisco-based Coinbase, one of the biggest U.S. exchanges, said the Dublin office would let it keep rights to sell services in EU countries even after Brexit. Its non-U.S. headquarters will remain in London, it added. Cryptocurrencies are largely unregulated in Europe, but Coinbase is licensed to provide fiat currency-related services across 23 EU countries. Many customers deposit fiat money - currency that a government has declared to be legal tender - at Coinbase before buying and selling cryptocurrencies. UK Chief Executive Officer Zeeshan Feroz said the Dublin office would also aid Coinbase's expansion in Europe, its fastest growing area this year by new active customers. "It ticks a lot of boxes – ranging from giving us a contingency, helping us plan for all eventualities for Brexit and engaging with Europe through another base," he told Reuters. Unsure of Britain's future relations with the EU, banks are scrambling to strengthen or open offices in the bloc - though most have said London would almost certainly remain their main European hub irrespective of Brexit. The Bank of England estimates 5,000 financial services jobs will have left for continental Europe by the time Britain quits the EU in March. Still, as few as 630 UK-based finance jobs have been shifted or created overseas, a Reuters survey last month found. Feroz would not give details of the size of the Dublin office. The website of Coinbase, which employs over 500 people worldwide, shows seven open business and customer support-related positions in Dublin. Like other exchanges, Coinbase grew rapidly last year as the price of bitcoin, the most well-known cryptocurrency, rocketed more than 1,300 percent to a record high of almost $20,000. Story continues It booked revenue of $1 billion in 2017, tech website Recode reported in January, citing unidentified sources. Financial data firm PitchBook has valued Coinbase at $1.6 billion. Turnover at Coinbase's UK arm, which serves non-U.S. clients, soared last year to 128 million euros ($148 million)from 1.9 million euros a year earlier, a filing with corporate records keeper Companies House showed, with 71 percent generated outside Britain. But the price of bitcoin has slumped this year - it was trading on Monday at around $6,400 (BTC=) - pushing trading volumes down and likely hurting exchanges. Research firm Diar said Coinbase's U.S. dollar volumes slumped 80 percent from the fourth quarter of 2017 to the third quarter of 2018. Coinbase declined to comment on the report. ($1 = 0.8628 euros) (Reporting by Tom Wilson; Editing by Mark Potter) \|\| Crypto exchange Coinbase opens Dublin office as Brexit looms: By Tom Wilson LONDON (Reuters) - Cryptocurrency exchange Coinbase has opened an office in Dublin, it said on Tuesday, joining the growing ranks of banks and financial firms with major British businesses developing European Union outposts as Britain's exit from the bloc looms. San Francisco-based Coinbase, one of the biggest U.S. exchanges, said the Dublin office would let it keep rights to sell services in EU countries even after Brexit. Its non-U.S. headquarters will remain in London, it added. Cryptocurrencies are largely unregulated in Europe, but Coinbase is licensed to provide fiat currency-related services across 23 EU countries. Many customers deposit fiat money - currency that a government has declared to be legal tender - at Coinbase before buying and selling cryptocurrencies. UK Chief Executive Officer Zeeshan Feroz said the Dublin office would also aid Coinbase's expansion in Europe, its fastest growing area this year by new active customers. "It ticks a lot of boxes – ranging from giving us a contingency, helping us plan for all eventualities for Brexit and engaging with Europe through another base," he told Reuters. Unsure of Britain's future relations with the EU, banks are scrambling to strengthen or open offices in the bloc - though most have said London would almost certainly remain their main European hub irrespective of Brexit. The Bank of England estimates 5,000 financial services jobs will have left for continental Europe by the time Britain quits the EU in March. Still, as few as 630 UK-based finance jobs have been shifted or created overseas, a Reuters survey last month found. Feroz would not give details of the size of the Dublin office. The website of Coinbase, which employs over 500 people worldwide, shows seven open business and customer support-related positions in Dublin. Like other exchanges, Coinbase grew rapidly last year as the price of bitcoin, the most well-known cryptocurrency, rocketed more than 1,300 percent to a record high of almost $20,000. Story continues It booked revenue of $1 billion in 2017, tech website Recode reported in January, citing unidentified sources. Financial data firm PitchBook has valued Coinbase at $1.6 billion. Turnover at Coinbase's UK arm, which serves non-U.S. clients, soared last year to 128 million euros ($148 million)from 1.9 million euros a year earlier, a filing with corporate records keeper Companies House showed, with 71 percent generated outside Britain. But the price of bitcoin has slumped this year - it was trading on Monday at around $6,400 (BTC=) - pushing trading volumes down and likely hurting exchanges. Research firm Diar said Coinbase's U.S. dollar volumes slumped 80 percent from the fourth quarter of 2017 to the third quarter of 2018. Coinbase declined to comment on the report. ($1 = 0.8628 euros) (Reporting by Tom Wilson; Editing by Mark Potter) \|\| Mainstream: $7.2 Trillion Asset Manager Fidelity Will Help Customers Invest in Bitcoin: Fidelity bitcoin cryptocurrency One of the biggest names in financial services wants to help institutional investors add bitcoin and other cryptocurrency assets to their multi-billion dollar portfolios. Citing proven institutional demand for cryptocurrency products, Fidelity Investments , the fifth-largest asset manager in the world with 27 million clients and $7.2 trillion in customer assets, has announced that it will launch a separate company to provide cryptocurrency custody and trade execution services for institutions. Dubbed Fidelity Digital Asset Services, CNBC reports that the company will serve as a bridge between institutional investors and the heretofore retail-focused cryptocurrency industry, which has lately sought to roll out the red carpet for institutions. “Our goal is to make digitally-native assets, such as bitcoin, more accessible to investors,” Fidelity Investments Chairman and CEO Abigail Johnson said in a press release. “We expect to continue investing and experimenting, over the long-term, with ways to make this emerging asset class easier for our clients to understand and use.” The new venture will be led by Tom Jessop, who, according to his LinkedIn profile, spent 17 years at Goldman Sachs before joining blockchain startup Chain as president in 2017 and then Fidelity in 2018 as head of corporate business development. “We saw that there were certain things institutions needed that only a firm like Fidelity could provide,” Jessop told CNBC. “We’ve got some technology that we’ve repurposed from other parts of Fidelity — we can leverage all of the resources of a big organization.” Abigail Johnson Fidelity CCN reported earlier this year that Fidelity appeared to be building a cryptocurrency exchange, as the firm had advertised internally for developers to help build a “Digital Asset exchange.” Departing from the public comments of many CEOs in the mainstream financial industry, Abigail Johnson not only attended a cryptocurrency conference last year but also told the audience that she was a “believer” in the technology. Story continues That open stance has enabled Fidelity to position itself as a potential leader in the burgeoning cryptocurrency market, which has reportedly begun to attract major university endowments such as Harvard and Yale . “You might look at the crypto world and say ‘wow is this a new thing’ but we’ve been managing key materials for a long time,” Jessop continued in the CNBC interview. “We took our learnings in how to run enterprise security, then through our exploration of bitcoin and some of the people we’ve hired, quickly developed some of the crypto native expertise and federated the two those things.” Fidelity joins a growing list of legacy financial giants who have seen enough potential in the cryptocurrency space to justify investing in the resources to produce products tailored for this nascent marketplace. Intercontinental Exchange (ICE), Goldman Sachs , Citigroup , and Morgan Stanley are just a few of the names that plan to roll-out digital asset services within the near future. Of course, the 2018 bear market may have dampened enthusiasm in some boardrooms. Barclays, as CCN reported this morning, is said to have quietly placed its cryptocurrency trading desk project “on ice,” while Goldman Sachs shelved its trading desk plans to prioritize a cryptoasset custody service. Fidelity, though, has not been dissuaded by the massive drop in prices that has occurred over the past 10 months. “No one said when some of these early stage Internet companies in 2000 were going out of business ‘gee the Internet is toast’,” Jessop concluded. “We don’t focus too much on the price. It’s a foundational technology — people are trying to get exposure to the trend, and expect volatility in the assets themselves.” Featured Image from Shutterstock The post Mainstream: $7.2 Trillion Asset Manager Fidelity Will Help Customers Invest in Bitcoin appeared first on CCN . \|\| Mainstream: $7.2 Trillion Asset Manager Fidelity Will Help Customers Invest in Bitcoin: Fidelity bitcoin cryptocurrency One of the biggest names in financial services wants to help institutional investors add bitcoin and other cryptocurrency assets to their multi-billion dollar portfolios. Citing proven institutional demand for cryptocurrency products, Fidelity Investments , the fifth-largest asset manager in the world with 27 million clients and $7.2 trillion in customer assets, has announced that it will launch a separate company to provide cryptocurrency custody and trade execution services for institutions. Dubbed Fidelity Digital Asset Services, CNBC reports that the company will serve as a bridge between institutional investors and the heretofore retail-focused cryptocurrency industry, which has lately sought to roll out the red carpet for institutions. “Our goal is to make digitally-native assets, such as bitcoin, more accessible to investors,” Fidelity Investments Chairman and CEO Abigail Johnson said in a press release. “We expect to continue investing and experimenting, over the long-term, with ways to make this emerging asset class easier for our clients to understand and use.” The new venture will be led by Tom Jessop, who, according to his LinkedIn profile, spent 17 years at Goldman Sachs before joining blockchain startup Chain as president in 2017 and then Fidelity in 2018 as head of corporate business development. “We saw that there were certain things institutions needed that only a firm like Fidelity could provide,” Jessop told CNBC. “We’ve got some technology that we’ve repurposed from other parts of Fidelity — we can leverage all of the resources of a big organization.” Abigail Johnson Fidelity CCN reported earlier this year that Fidelity appeared to be building a cryptocurrency exchange, as the firm had advertised internally for developers to help build a “Digital Asset exchange.” Departing from the public comments of many CEOs in the mainstream financial industry, Abigail Johnson not only attended a cryptocurrency conference last year but also told the audience that she was a “believer” in the technology. Story continues That open stance has enabled Fidelity to position itself as a potential leader in the burgeoning cryptocurrency market, which has reportedly begun to attract major university endowments such as Harvard and Yale . “You might look at the crypto world and say ‘wow is this a new thing’ but we’ve been managing key materials for a long time,” Jessop continued in the CNBC interview. “We took our learnings in how to run enterprise security, then through our exploration of bitcoin and some of the people we’ve hired, quickly developed some of the crypto native expertise and federated the two those things.” Fidelity joins a growing list of legacy financial giants who have seen enough potential in the cryptocurrency space to justify investing in the resources to produce products tailored for this nascent marketplace. Intercontinental Exchange (ICE), Goldman Sachs , Citigroup , and Morgan Stanley are just a few of the names that plan to roll-out digital asset services within the near future. Of course, the 2018 bear market may have dampened enthusiasm in some boardrooms. Barclays, as CCN reported this morning, is said to have quietly placed its cryptocurrency trading desk project “on ice,” while Goldman Sachs shelved its trading desk plans to prioritize a cryptoasset custody service. Fidelity, though, has not been dissuaded by the massive drop in prices that has occurred over the past 10 months. “No one said when some of these early stage Internet companies in 2000 were going out of business ‘gee the Internet is toast’,” Jessop concluded. “We don’t focus too much on the price. It’s a foundational technology — people are trying to get exposure to the trend, and expect volatility in the assets themselves.” Featured Image from Shutterstock The post Mainstream: $7.2 Trillion Asset Manager Fidelity Will Help Customers Invest in Bitcoin appeared first on CCN . \|\| Mainstream: $7.2 Trillion Asset Manager Fidelity Will Help Customers Invest in Bitcoin: Fidelity bitcoin cryptocurrency One of the biggest names in financial services wants to help institutional investors add bitcoin and other cryptocurrency assets to their multi-billion dollar portfolios. Citing proven institutional demand for cryptocurrency products, Fidelity Investments , the fifth-largest asset manager in the world with 27 million clients and $7.2 trillion in customer assets, has announced that it will launch a separate company to provide cryptocurrency custody and trade execution services for institutions. Dubbed Fidelity Digital Asset Services, CNBC reports that the company will serve as a bridge between institutional investors and the heretofore retail-focused cryptocurrency industry, which has lately sought to roll out the red carpet for institutions. “Our goal is to make digitally-native assets, such as bitcoin, more accessible to investors,” Fidelity Investments Chairman and CEO Abigail Johnson said in a press release. “We expect to continue investing and experimenting, over the long-term, with ways to make this emerging asset class easier for our clients to understand and use.” The new venture will be led by Tom Jessop, who, according to his LinkedIn profile, spent 17 years at Goldman Sachs before joining blockchain startup Chain as president in 2017 and then Fidelity in 2018 as head of corporate business development. “We saw that there were certain things institutions needed that only a firm like Fidelity could provide,” Jessop told CNBC. “We’ve got some technology that we’ve repurposed from other parts of Fidelity — we can leverage all of the resources of a big organization.” Abigail Johnson Fidelity CCN reported earlier this year that Fidelity appeared to be building a cryptocurrency exchange, as the firm had advertised internally for developers to help build a “Digital Asset exchange.” Departing from the public comments of many CEOs in the mainstream financial industry, Abigail Johnson not only attended a cryptocurrency conference last year but also told the audience that she was a “believer” in the technology. Story continues That open stance has enabled Fidelity to position itself as a potential leader in the burgeoning cryptocurrency market, which has reportedly begun to attract major university endowments such as Harvard and Yale . “You might look at the crypto world and say ‘wow is this a new thing’ but we’ve been managing key materials for a long time,” Jessop continued in the CNBC interview. “We took our learnings in how to run enterprise security, then through our exploration of bitcoin and some of the people we’ve hired, quickly developed some of the crypto native expertise and federated the two those things.” Fidelity joins a growing list of legacy financial giants who have seen enough potential in the cryptocurrency space to justify investing in the resources to produce products tailored for this nascent marketplace. Intercontinental Exchange (ICE), Goldman Sachs , Citigroup , and Morgan Stanley are just a few of the names that plan to roll-out digital asset services within the near future. Of course, the 2018 bear market may have dampened enthusiasm in some boardrooms. Barclays, as CCN reported this morning, is said to have quietly placed its cryptocurrency trading desk project “on ice,” while Goldman Sachs shelved its trading desk plans to prioritize a cryptoasset custody service. Fidelity, though, has not been dissuaded by the massive drop in prices that has occurred over the past 10 months. “No one said when some of these early stage Internet companies in 2000 were going out of business ‘gee the Internet is toast’,” Jessop concluded. “We don’t focus too much on the price. It’s a foundational technology — people are trying to get exposure to the trend, and expect volatility in the assets themselves.” Featured Image from Shutterstock The post Mainstream: $7.2 Trillion Asset Manager Fidelity Will Help Customers Invest in Bitcoin appeared first on CCN . \|\| Fidelity just announced a new business to let hedge funds trade cryptocurrencies: Fidelity, known for its mutual fund and discount brokerage businesses, is launching a new business called Fidelity Digital Assets to offer hedge funds and family offices custody and trading services for cryptocurrencies. “Our goal is to provide an enterprise-grade custody and trading solution to institutions who are increasingly allocating to this asset class. We’re seeing a lot of demand in the market even though this space is still evolving quite rapidly,” Tom Jessop, a Goldman Sachs alum who headsof corporate business development at Fidelity, said at a crypto seminar in New York on Monday. Jessop added that they’re going live in early 2019 and are in the process of on-boarding their first customers. Former macro hedge fund manager Mike Novogratz, the CEO of Galaxy Digital, has argued that the“herd is coming”to the crypto space, but the biggest barrier to institutions has been custody. Novogratz called the Fidelity announcement a “big, big deal.” Novogratz said that Fidelity won’t be the only player serving institutions, but they’re “getting out ahead of the pack.” In the institutional world, some family-offices have already been allocating to crypto. That will be followed by more traditional funds, according to Jessop. He called some of the recent announcements of a few college endowments entering the space “quite a bit of news.” As for the pension funds making moves, Novogratz expects that it may start to happen late in the first quarter and early in the second quarter of 2019 before they allocate. “One of the real key things that need to happen is some of the consultants … to say, ‘Hey, this fund is OK. We’ve done the O.D.D., operations, due-diligence checklist,” Novogratz said, adding, “Most of those funds are looking for guidance on how to think about this asset class…I think the institutional world is going to galvanize on how to see this as an asset.” Jessop said that Fidelity has done surveys with institutional investors and found that a “high percentage” is interested in the space. He added that they’re “very comfortable that there’s a business here.” Fidelity Digital Assets will start with bitcoin (BTC-USD) and ether (ETH-USD). —Julia La Roche is a finance reporter at Yahoo Finance. Follow her onTwitter. Send tips to [email protected]. • Ray Dalio warns about what’s coming in just 2 or 3 years • Dalio shares 3 recommendations for millennials • Novogratz: Cannabis stocks today are like cryptocurrencies in Dec. 2017 • Langone: ‘For years, our political leaders have had their pants taken off by our trading partners’ • Schwarzman: Nationalism and populism are the ‘biggest risks’ for the business community • Crypto investor Mike Novogratz says bitcoin is on the brink of a ‘Renaissance’ • Langone: Trump is the fever, he’s not the disease \|\| Fidelity launches Fidelity Digital Assets: Fidelity, known for its mutual fund and discount brokerage businesses, is launching a new business called Fidelity Digital Assets to offer hedge funds and family offices custody and trading services for cryptocurrencies. The financial services company is experimenting with blockchain, artificial intelligence and virtual reality and competing with Google, Facebook and Microsoft to recruit top talent from Silicon Valley. “Our goal is to provide an enterprise-grade custody and trading solution to institutions who are increasingly allocating to this asset class. We’re seeing a lot of demand in the market even though this space is still evolving quite rapidly,” Tom Jessop, a Goldman Sachs alum who heads of corporate business development at Fidelity , said at a crypto seminar in New York on Monday. Jessop added that they’re going live in early 2019 and are in the process of on-boarding their first customers. Former macro hedge fund manager Mike Novogratz, the CEO of Galaxy Digital, has argued that the “herd is coming” to the crypto space, but the biggest barrier to institutions has been custody. Novogratz called the Fidelity announcement a “big, big deal.” Novogratz said that Fidelity won’t be the only player serving institutions, but they’re “getting out ahead of the pack.” In the institutional world, some family-offices have already been allocating to crypto. That will be followed by more traditional funds, according to Jessop. He called some of the recent announcements of a few college endowments entering the space “quite a bit of news.” As for the pension funds making moves, Novogratz expects that it may start to happen late in the first quarter and early in the second quarter of 2019 before they allocate. “One of the real key things that need to happen is some of the consultants … to say, ‘Hey, this fund is OK. We’ve done the O.D.D., operations, due-diligence checklist,” Novogratz said, adding, “Most of those funds are looking for guidance on how to think about this asset class…I think the institutional world is going to galvanize on how to see this as an asset.” Jessop said that Fidelity has done surveys with institutional investors and found that a “high percentage” is interested in the space. He added that they’re “very comfortable that there’s a business here.” Story continues Fidelity Digital Assets will start with bitcoin ( BTC-USD ) and ether ( ETH-USD ). — Julia La Roche is a finance reporter at Yahoo Finance. Follow her on Twitter . Send tips to [email protected]. Ray Dalio warns about what’s coming in just 2 or 3 years Dalio shares 3 recommendations for millennials Novogratz: Cannabis stocks today are like cryptocurrencies in Dec. 2017 Langone: ‘For years, our political leaders have had their pants taken off by our trading partners’ Schwarzman: Nationalism and populism are the ‘biggest risks’ for the business community Crypto investor Mike Novogratz says bitcoin is on the brink of a ‘Renaissance’ Langone: Trump is the fever, he’s not the disease \|\| Bank of America Earnings: Better Margins, Strong Asset Quality, and an All-Around Good Quarter: Bank of America (NYSE: BAC) is the last of the "big four" U.S. banks to report its third-quarter earnings. Although investors may have had to wait, they have little reason to be disappointed by the bank's performance. Not only did Bank of America beat expectations on both the top and bottom lines, but the business looks pretty solid all around. With that in mind, here's a quick rundown of the headline numbers, the other key points investors should know, and what to watch for going forward. Interior of a Bank of America lobby. Image source: Bank of America. The headline numbers First, looking at the top and bottom lines, Bank of America did quite well in the third quarter. Earnings per share of $0.66 were $0.04 higher than analysts had been looking for and represented a sharp 43% increase from the same quarter in 2017. Revenue grew by 4% from last year to $22.8 billion, which beat analysts' expectations by approximately $130 million. Although earnings and revenue beat estimates, these two metrics never tell the full story of how a particular company did, so let's take a closer look. Going a little deeper Taking a look past the headline numbers shows that Bank of America had a pretty strong quarter throughout its business. Here are some key highlights investors should pay attention to: Noninterest expense fell by 2% year over year. This is especially impressive considering that revenue grew by 4% and translates to a strong 57% efficiency ratio . Return on assets (ROA) of 1.23% and return on equity (ROE) of 11% are major improvements and are well in excess of industry benchmarks. Total loans grew by 3% (including 6% growth in consumer banking loans) and deposits are up by 4%. Merrill Edge brokerage assets continue to grow at a double-digit pace and crossed $200 billion for the first time -- a year-over-year 22% growth rate. The bank's provision for credit losses was perhaps the biggest surprise -- down by $111 million from the second quarter to $716 million on stronger loan quality in key areas of the business, such as energy. Bank of America's net interest margin rose by four basis points to 2.42%. Rising interest rates typically translate to better profit margins for banks, and it's encouraging to see the numbers reflect this. Story continues Keep an eye on interest margins Speaking of Bank of America's net interest margin, this is an area I'll be watching especially closely during the fourth quarter. Here's why: Longer-term interest rates (such as the 10-year Treasury yield) have spiked recently, and consumer interest rates such as those on mortgages have risen as well. This should translate into better margins for banks, and Bank of America should especially benefit with its low-cost deposit base. However, the move happened after the end of the third quarter, so it will be interesting to see whether it translates into a meaningful increase in margins for the last quarter of 2018. 10 Year Treasury Rate Chart 10 Year Treasury Rate data by YCharts . A strong quarter with few surprises Bank of America's third quarter was strong, but there was nothing in its earnings report that was too surprising. In fact, slightly beating earnings and revenue expectations has become somewhat of a pattern for the bank, which is likely why its stock price isn't reacting too much after the announcement. Having said that, this quarter should give Bank of America investors something to smile about, as it shows that the bank's objectives of cutting costs, embracing technology, and maintaining excellent asset quality are progressing quite well. More From The Motley Fool 3 Growth Stocks at Deep-Value Prices 5 Expected Social Security Changes in 2018 6 Years Later, 6 Charts That Show How Far Apple, Inc. Has Come Since Steve Jobs' Passing 10 Best Stocks to Buy Today The $16,122 Social Security Bonus You Cannot Afford to Miss Bitcoin's Biggest Competitor Isn't Ethereum -- It's This Matthew Frankel, CFP owns shares of Bank of America. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy . [Social Media Buzz] 1 BTC Price: Bitstamp 6437.70 USD Coinbase 6431.00 USD #btc #bitcoin 2018-10-17 04:30 pic.twitter.com/vKdrPYx7Ii \|\| $BTC : +0.28% 6550$ Top (last h): $INC : +16.84% 597st $CYFM : +13.83% 0st $GVE : +12.00% 10st $BOT : +10.43% 1549st Worst (last h): $KRM : -32.07% 22st $BLUE : -25.93% 436st $TNS : -13.27% 68st #cryptocurrency #blockchain \|\| USD: 112.240 EUR: 129.760 GBP: 147.854 AUD: 80.083 NZD: 73.865 CNY: 16.211 CHF: 113.202 BTC: 725,302 ETH: 23,180 Wed Oct 17 14:00 JST \|\| Oct 17, 2018 19:0...	6476.71, 6465.41, 6489.19, 6482.35, 6487.16, 6475.74, 6495.84, 6476.29, 6474.75, 6480.38
Given the historical Bitcoin prices from the last 90 days, predict the next 10 daily closing prices. The historical prices are: 7290.09, 7317.99, 7422.65, 7293.00, 7193.60, 7200.17, 6985.47, 7344.88, 7410.66, 7411.32, 7769.22, 8163.69, 8079.86, 7879.07, 8166.55, 8037.54, 8192.49, 8144.19, 8827.76, 8807.01, 8723.79, 8929.04, 8942.81, 8706.25, 8657.64, 8745.89, 8680.88, 8406.52, 8445.43, 8367.85, 8596.83, 8909.82, 9358.59, 9316.63, 9508.99, 9350.53, 9392.88, 9344.37, 9293.52, 9180.96, 9613.42, 9729.80, 9795.94, 9865.12, 10116.67, 9856.61, 10208.24, 10326.05, 10214.38, 10312.12, 9889.42, 9934.43, 9690.14, 10142.00, 9633.39, 9608.48, 9686.44, 9663.18, 9924.52, 9650.17, 9341.71, 8820.52, 8784.49, 8672.46, 8599.51, 8562.45, 8869.67, 8787.79, 8755.25, 9078.76, 9122.55, 8909.95, 8108.12, 7923.64, 7909.73, 7911.43, 4970.79, 5563.71, 5200.37, 5392.31, 5014.48, 5225.63, 5238.44, 6191.19, 6198.78, 6185.07, 5830.25, 6416.31, 6734.80, 6681.06.	[Bitcoin Technical Analysis for 2020-03-25] Volume: 44590107888, RSI (14-day): 46.65, 50-day EMA: 7610.16, 200-day EMA: 8245.30 [Wider Market Context] Gold Price: 1632.30, Gold RSI: 56.17 Oil Price: 24.49, Oil RSI: 29.65 [Recent News (last 7 days)] 7 ETFs To Buy In A Recession: When the economy transitions from expansion to contraction and the market transitions from a bull to a bear, investors cant expect all the same stocks and funds to outperform and the same investing strategies to continue to work. Economic fears due to the spread of the COVID-19 coronavirus has led the market to plummet in the past month, with the Dow Jones Industrial Average falling from the 30,000 level to under 19,000 earlier this week. Investors priorities flip from maximizing gains to minimizing risk, and buying volume rotates into brand new pockets of the market. The past few weeks of trading in the market may seem like total chaos, but a closer look reveals certain groups of stocks and funds are outperforming others. Here are eight ETFs to consider that could outperform during a U.S. recession. Benzinga is covering every angle of how the coronavirus affects the financial world. For daily updates, sign up for our coronavirus newsletter . 1. Health Care SPDR (NYSE: XLV ) The health care sector is one of the main sectors of the economy that has historically been a defensive place for investors to put their money during economic downturns. While other businesses are shutting down amid the COVID-19 outbreak, demand for health care services is booming. In the longer term, the fact that former Vice President Joe Biden has surpassed Senator Bernie Sanders as the likely Democratic presidential candidate further eliminates risks associated with a radical overhaul of the U.S. health care and pharmaceutical industries. In the past month, the XLV ETF is down just 21.6% compared to a 29.5% drop by the overall S&P 500. 2. Utilities SPDR (NYSE: XLU ) Another potential place for investors to find safety during a recession is Utility stocks. In addition to its relative stability and downside valuation protection, the XLU ETF pays a generous 4.6% dividend yield. Utilities have historically outperformed during economic downturns because Americans must keep the lights on and water flowing no matter how bad it gets. Many utilities have limited competition and operate under strict government regulations, which further serve to create a stable earnings and revenue environment. Story continues Utilities may not be a sexy investment, but they can be an excellent source of reliable dividend income while interest rates are at 0%. 3. Consumer Staples Select Sect. SPDR (NYSE: XLP ) Another market sector that performs relatively well when the economy tanks is the consumer staples sector. When Americans cut their spending in times of uncertainty, those cuts dont typically include toothpaste, toilet paper and laundry detergent. Consumer staples stocks are relatively recession-resistant, making them safe places to invest during market downturns. Over the past month, the XLP ETF is down just 19.4%, making it the best-performing SPDR sector ETF of all. As an added bonus, the XLP ETF pays a 3.1% dividend, so investors can get paid while they wait for the economy to recover. 4. SPDR S&P Dividend (NYSE: SDY ) Not only do dividend stocks and ETFs provide yield for investors when interest rates are nearly 0%, many dividend stocks actually outperform the broad market during economic downturns. The SDY ETF pays a 3.3% yield, which is leaps and bounds better than the interest rates youll find these days in U.S. Treasuries, high-yield savings accounts or certificates of deposit. The risk in buying high-yield dividend stocks is that the economic hardship will trigger a dividend cut. But dividend ETFs such as the SDY, which holds 120 different stocks, provide the type of diversification that protects against individual dividend cuts. 5. VANGUARD IX FUN/RL EST IX FD ETF (NYSE: VNQ ) Real estate is another popular flight-to-safety investment, and real estate investment trusts often pay extremely high yields. The VNQ ETF holds 181 different investments that cover roughly two-thirds of the entire U.S. REIT market. Real estate has historically had relatively low correlation to traditional stocks and bonds, making the VNQ fund an excellent source of portfolio diversification. Investors also dont have to worry about REIT dividend cuts as they are obligated by law to distribute 90% of income to investors. The VNQ ETF currently pays a 5.5% yield and has an expense ratio of just 0.12%. See Also: Ray Dalio: What's Happening In The Markets Has Not Happened In Our Lifetime 6. SPDR Gold Trust (NYSE: GLD ) The classic safe-haven investment during times of economic turmoil is gold. There are plenty of reasons investors buy gold during recessions. They argue that there is a limited quantity of physical gold in the world, although gold miners add roughly 3,300 tons of gold to the global supply annually. Gold buyers also see the precious metal as a hedge against inflation that could be triggered by central bank stimulus over time. Whatever the reason, the GLD ETF is down just 2.4% year-to-date, insulating investors from the majority of the broad market sell-off. 7. ISHARES TR/EDGE MSCI INTL VALU (NYSE: IVLU ) Another way for investors to protect themselves during a recession is to rotate from growth stocks to value stocks. Value stocks typically have high profit levels relative to their share prices and tend to generate strong cash flows, have stable revenues and carry relatively low debt levels. Self-funding, blue-chip companies can be insulated from the type of uncertainty that is created if credit markets start to tighten. Many of these stocks also pay dividends. The IVLU is one good way for U.S. investors to get exposure to international value stocks and a 2.5% yield. See more from Benzinga Bitcoin Is Still Failing As A Flight To Safety Investment 7 Ways To Invest In Gold Amid Coronavirus Fears © 2020 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. \|\| 7 ETFs To Buy In A Recession: When the economy transitions from expansion to contraction and the market transitions from a bull to a bear, investors can’t expect all the same stocks and funds to outperform and the same investing strategies to continue to work. Economic fears due to the spread of the COVID-19 coronavirus has led the market to plummet in the past month, with the Dow Jones Industrial Average falling from the 30,000 level to under 19,000 earlier this week. Investors priorities flip from maximizing gains to minimizing risk, and buying volume rotates into brand new pockets of the market. The past few weeks of trading in the market may seem like total chaos, but a closer look reveals certain groups of stocks and funds are outperforming others. Here are eight ETFs to consider that could outperform during a U.S. recession. Benzinga is covering every angle of how the coronavirus affects the financial world.For daily updates,sign up for our coronavirus newsletter. 1. Health Care SPDR (NYSE:XLV) The health care sector is one of the main sectors of the economy that has historically been a defensive place for investors to put their money during economic downturns. While other businesses are shutting down amid the COVID-19 outbreak, demand for health care services is booming. In the longer term, the fact that former Vice President Joe Biden has surpassed Senator Bernie Sanders as the likely Democratic presidential candidate further eliminates risks associated with a radical overhaul of the U.S. health care and pharmaceutical industries. In the past month, the XLV ETF is down just 21.6% compared to a 29.5% drop by the overall S&P 500. 2. Utilities SPDR (NYSE:XLU) Another potential place for investors to find safety during a recession is Utility stocks. In addition to its relative stability and downside valuation protection, the XLU ETF pays a generous 4.6% dividend yield. Utilities have historically outperformed during economic downturns because Americans must keep the lights on and water flowing no matter how bad it gets. Many utilities have limited competition and operate under strict government regulations, which further serve to create a stable earnings and revenue environment. Utilities may not be a sexy investment, but they can be an excellent source of reliable dividend income while interest rates are at 0%. 3. Consumer Staples Select Sect. SPDR (NYSE:XLP) Another market sector that performs relatively well when the economy tanks is the consumer staples sector. When Americans cut their spending in times of uncertainty, those cuts don’t typically include toothpaste, toilet paper and laundry detergent. Consumer staples stocks are relatively recession-resistant, making them safe places to invest during market downturns. Over the past month, the XLP ETF is down just 19.4%, making it the best-performing SPDR sector ETF of all. As an added bonus, the XLP ETF pays a 3.1% dividend, so investors can get paid while they wait for the economy to recover. 4. SPDR S&P Dividend (NYSE:SDY) Not only do dividend stocks and ETFs provide yield for investors when interest rates are nearly 0%, many dividend stocks actually outperform the broad market during economic downturns. The SDY ETF pays a 3.3% yield, which is leaps and bounds better than the interest rates you’ll find these days in U.S. Treasuries, high-yield savings accounts or certificates of deposit. The risk in buying high-yield dividend stocks is that the economic hardship will trigger a dividend cut. But dividend ETFs such as the SDY, which holds 120 different stocks, provide the type of diversification that protects against individual dividend cuts. 5. VANGUARD IX FUN/RL EST IX FD ETF (NYSE:VNQ) Real estate is another popular flight-to-safety investment, and real estate investment trusts often pay extremely high yields. The VNQ ETF holds 181 different investments that cover roughly two-thirds of the entire U.S. REIT market. Real estate has historically had relatively low correlation to traditional stocks and bonds, making the VNQ fund an excellent source of portfolio diversification. Investors also don’t have to worry about REIT dividend cuts as they are obligated by law to distribute 90% of income to investors. The VNQ ETF currently pays a 5.5% yield and has an expense ratio of just 0.12%. See Also:Ray Dalio: What's Happening In The Markets Has Not Happened In Our Lifetime 6. SPDR Gold Trust (NYSE:GLD) The classic safe-haven investment during times of economic turmoil is gold. There are plenty of reasons investors buy gold during recessions. They argue that there is a limited quantity of physical gold in the world, although gold miners add roughly 3,300 tons of gold to the global supply annually. Gold buyers also see the precious metal as a hedge against inflation that could be triggered by central bank stimulus over time. Whatever the reason, the GLD ETF is down just 2.4% year-to-date, insulating investors from the majority of the broad market sell-off. 7. ISHARES TR/EDGE MSCI INTL VALU (NYSE:IVLU) Another way for investors to protect themselves during a recession is to rotate from growth stocks to value stocks. Value stocks typically have high profit levels relative to their share prices and tend to generate strong cash flows, have stable revenues and carry relatively low debt levels. Self-funding, blue-chip companies can be insulated from the type of uncertainty that is created if credit markets start to tighten. Many of these stocks also pay dividends. The IVLU is one good way for U.S. investors to get exposure to international value stocks and a 2.5% yield. See more from Benzinga • Bitcoin Is Still Failing As A Flight To Safety Investment • 7 Ways To Invest In Gold Amid Coronavirus Fears © 2020 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. \|\| Stocks blast higher on expectation of sweeping federal action: There are no free market fanatics on corporate boards the moment the economy wobbles. Today makes the point, with stocks shooting higher on the back of news that a sweeping federal package of aid and stimulus should soon pass Congress. The goal of the financial package is to blunt the impact of COVID-19-related market disruptions that have led to mass layoffs, and an economy expected to slip into recession. Today in regular hours the Dow Jones Industrial Average (DJIA) led American indices by climbing over 10%. It was the best day for the venerable Dow since the 2008 crisis in percentage terms, though the index has posted sharper declines in percentage terms in recent days. Its kin also rose, if less. Here's the day's results: DJIA: rose 11.37% to 20,704.91 S&P 500: rose 9.38% to 2,447.33 Nasdaq composite: rose 8.12% to close at 7,417.86 SaaS shares, as tracked by the BVP Nasdaq Emerging Cloud Index, rose about 7.2% on the day. Bitcoin saw its value jump by 5% in the last 24 hours, and is worth about $6,600 as of the time of writing. The day may not meet the criteria for a market melt up, but it certainly was a welcome respite from recent weeks' declines. The next test for the American public markets comes tomorrow. After posting huge gains today, can they be retained? In the past dozen trading sessions, there has been a market habit worth noting in which any sharp action -- up or down -- was met with a similar, opposite result the following day. Call it Newton's third law of stonks. Ride-hailing get a boost Lyft and Uber were lifted by the broader gains across all major indices. Lyft rose 19.68% to $27.06, while Uber shares increased 17.81% to $27.38. The companies saw increases even as the ride-hailing industry faces continued pressure amid the spread of COVID-19. Both companies have seen a decline in demand, prompting a shift towards delivery and partnerships with non-profit organizations to provide transportation services to health care workers and others who need it during the pandemic. For Uber and Lyft, this week has been a wild ride On Monday, Uber CEO Dara Khosrowshahi sent a letter to the White House, asking lawmakers to include protection and financial support for gig workers in the COVID-19 stimulus packages. Khosrowshahi also argued that there needs to be a third employment classification for gig workers that “would update our labor laws to remove the forced choice between flexibility and protection for millions of American workers.” \|\| Stocks blast higher on expectation of sweeping federal action: There are no free market fanatics on corporate boards the moment the economy wobbles. Today makes the point, with stocks shooting higher on the back of news that a sweeping federal package of aid and stimulus should soon pass Congress. The goal of the financial package is to blunt the impact of COVID-19-related market disruptions that have led to mass layoffs, and an economy expected to slip into recession. Today in regular hours the Dow Jones Industrial Average (DJIA) led American indices by climbing over 10%. It was the best day for the venerable Dow since the 2008 crisis in percentage terms, though the index has posted sharper declines in percentage terms in recent days. Its kin also rose, if less. Here's the day's results: • DJIA: rose 11.37% to 20,704.91 • S&P 500: rose 9.38% to 2,447.33 • Nasdaq composite: rose 8.12% to close at 7,417.86 SaaS shares, as tracked by the BVP Nasdaq Emerging Cloud Index, rose about 7.2% on the day. Bitcoin saw its value jump by 5% in the last 24 hours, and is worth about $6,600 as of the time of writing. The day may not meet the criteria for a market melt up, but it certainly was a welcome respite from recent weeks' declines. The next test for the American public markets comes tomorrow. After posting huge gains today, can they be retained? In the past dozen trading sessions, there has been a market habit worth noting in which any sharp action -- up or down -- was met with a similar, opposite result the following day. Call it Newton's third law of stonks. LyftandUberwere lifted by the broader gains across all major indices. Lyft rose 19.68% to $27.06, while Uber shares increased 17.81% to $27.38. The companies saw increases even as the ride-hailing industry faces continued pressure amid the spread of COVID-19. Both companies have seen a decline in demand, prompting a shift towards delivery and partnerships with non-profit organizations to provide transportation services to health care workers and others who need it during the pandemic. For Uber and Lyft, this week has been a wild ride On Monday,Uber CEO Dara Khosrowshahi sent a letterto the White House, asking lawmakers to include protection and financial support for gig workers in the COVID-19 stimulus packages. Khosrowshahi also argued that there needs to be a third employment classification for gig workers that “would update our labor laws to remove the forced choice between flexibility and protection for millions of American workers.” \|\| BitMEX Open Interest Collapses After Controversial Long Squeeze: While bitcoins (BTC) price is rallying, traders have scaled back their open interest positions in bitcoin perpetual contracts listed on the crypto derivatives exchange BitMEX. The worlds largest cryptocurrency by market capitalization rose to $6,863 early Tuesday, representing a 77 percent gain on the recent low of $3,867 registered on March 12, according to CoinDesks Bitcoin Price Index . Meanwhile, open interest, or outstanding positions, in XBT/USD (bitcoin) perpetual contracts fell to 55,000 BTC. Thats the lowest figure in at least 18 months, which is when crypto derivatives research firm Skew began tracking BitMEXs data. Related: Bitcoin Rejected Near $7K Despite US Fiscal Agreement on $2T Stimulus Package A perpetual contract resembles a futures contract as it offers high leverage and is a margin-based product. However, there is no expiry or settlement and thus it trades close to the underlying reference index price. The exchange uses the term open value for open interest in its perpetual contracts when measured in bitcoin terms. Open interest in XBT/USD on BitMEX has crashed by over 50 percent from 115,000 BTC to 55,000 BTC over the past 12 days. Activity has cooled significantly following bitcoins sudden drop from around $7,300 to $3,867 during a 16-hour period from 10: 00 UTC on March 12 to 02:00 UTC on March 13. Markets in general both traditional and cryptocurrency have seen volumes hit as traders figure their way through the uncharted waters of recent weeks. Open interest on the BitMEX XBTUSD market, which remains the most liquid globally, has been impacted in line with what we have seen across the entire market, Greg Dwyer, head of business development at BitMEX told CoinDesk. Related: Mt. Gox Trustee May Sell Some Crypto Assets, Says Draft Repayment Plan Open interest is falling because the market is full of uncertainty, Ben Zhou, CEO of Bybit, told CoinDesk. Traders in all fields, whether traditional or crypto, are simply unsure of where the market is going. Therefore they are being cautious and want to sit on the sideline to observe the market, until a clear entry signal appears. Story continues See also: Bitcoins Approaching Halving, Explained While the market sentiment was bearish to begin with, the downside move was exaggerated by forced liquidations of long positions on BitMEX. The long squeeze reportedly occurred between 02:16 and 02:40 UTC on March 13, when the exchange was down for maintenance. During that time, bitcoins price volatility spiked with prices dropping to $3,867 for just five minutes before quickly recovering above $4,000. Open interest is falling because the market is full of uncertainty. As a result, some in the crypto community suggested possible price manipulation on BitMEX. Sam Bankman-Fried, CEO of Alameda Research and BitMEXs rival exchange FTX, published multiple tweets , wondering out loud if there really were hardware issues, and saying the exchanges unwillingness to address the market situation promoted the price slide. BitMEX dismissed Bankman-Frieds argument as a conspiracy theory. However, the controversy seems to have led to a slowdown in the activity, as represented by the drop in open interest. While open interest has declined from $1.2 billion to $500 million on BitMEX since the big long squeeze, it has skyrocketed for their rivals. On FTX, open interest has increased from $68 million to $128 million in the past 12 days. Similarly, for Bybit it has risen from $35 million on March 14 to $100 million on March 22. Global slowdown Nonetheless, overall activity has slowed significantly across the globe over the past five weeks. Markets in general both traditional and cryptocurrency have seen volumes hit as traders figure their way through the uncharted waters of recent weeks. Open interest on the BitMEX XBTUSD market, which remains the most liquid globally, has been impacted in line with what we have seen across the entire market., Aggregate open interest has declined by 50 percent from highs witnessed in mid-February, Skews CEO Emmanuel Goh told CoinDesk. Global open interest had risen above $5 billion in mid-February when bitcoins price was trading near $10,500. At press time, total open positions were around $1.6 billion. Spot-driven rally Given the decline in the institutional activity, bitcoins recent recovery rally looks to have been driven by the spot market, which is mainly dominated by long-term holders and retail traders. See al so: Bitcoin and Gold: Evaluating Hard-Cap Currencies in Times of Financial Crisis Investors accumulated coins below $5,000 earlier this month, according to an indicator called hodler net position change, tracked by data firm Glassnode. The indicator stayed in the positive territory during the recent price slide, a sign net new positions were accumulated by investors (nicknamed HODLers by the crypto community). In the past, significant quantities were cashed out during bull markets of bitcoin, and net new positions were accumulated by HODLers in bear phases, according to Adamant Capital. Related Stories Stocks, Bitcoin Rally on Prospects for US Senate Stimulus Bill Bitcoin Halving, Explained \|\| BitMEX Open Interest Collapses After Controversial Long Squeeze: While bitcoin’s (BTC) price is rallying, traders have scaled back their open interest positions in bitcoin perpetual contracts listed on the crypto derivatives exchange BitMEX. The world’s largest cryptocurrency by market capitalization rose to $6,863 early Tuesday, representing a 77 percent gain on the recent low of $3,867 registered on March 12, according to CoinDesk’sBitcoin Price Index. Meanwhile, open interest, or outstanding positions, in XBT/USD (bitcoin) perpetual contracts fell to 55,000 BTC. That’s the lowest figure in at least 18 months, which is when crypto derivatives research firm Skew began tracking BitMEX’s data. Related:Bitcoin Rejected Near $7K Despite US Fiscal Agreement on $2T Stimulus Package A perpetual contract resembles a futures contract as it offershigh leverageand is a margin-based product. However, there is no expiry or settlement and thus it trades close to the underlying reference index price. The exchange uses the term “open value” for open interest in its perpetual contracts when measured in bitcoin terms. Open interest in XBT/USD on BitMEX has crashed by over 50 percent from 115,000 BTC to 55,000 BTC over the past 12 days. Activity has cooled significantly following bitcoin’s sudden drop from around $7,300 to $3,867 during a 16-hour period from 10: 00 UTC on March 12 to 02:00 UTC on March 13. “Markets in general – both traditional and cryptocurrency – have seen volumes hit as traders figure their way through the uncharted waters of recent weeks. Open interest on the BitMEX XBTUSD market, which remains the most liquid globally, has been impacted in line with what we have seen across the entire market,” Greg Dwyer, head of business development at BitMEX told CoinDesk. Related:Mt. Gox Trustee May Sell Some Crypto Assets, Says Draft Repayment Plan “Open interest is falling because the market is full of uncertainty,” Ben Zhou, CEO of Bybit, told CoinDesk. “Traders in all fields, whether traditional or crypto, are simply unsure of where the market is going. Therefore they are being cautious and want to sit on the sideline to observe the market, until a clear entry signal appears.” See also:Bitcoin’s Approaching ‘Halving,’ Explained While the market sentiment was bearish to begin with, the downside move was exaggerated by forcedliquidationsof long positions on BitMEX. The “long squeeze” reportedly occurred between 02:16 and 02:40 UTC on March 13, when the exchangewas downfor maintenance. During that time, bitcoin’s price volatility spiked with prices dropping to $3,867 for just five minutes before quickly recovering above $4,000. Open interest is falling because the market is full of uncertainty. As a result, some in the crypto community suggested possible price manipulation on BitMEX. Sam Bankman-Fried, CEO of Alameda Research and BitMEX’s rival exchange FTX,published multiple tweets, wondering out loud if there really were hardware issues, and saying the exchange’s unwillingness to address the market situation promoted the price slide. BitMEXdismissedBankman-Fried’s argument as a conspiracy theory. However, the controversy seems to have led to a slowdown in the activity, as represented by the drop in open interest. While open interest has declined from $1.2 billion to $500 million on BitMEX since the big long squeeze, it has skyrocketed for their rivals. On FTX, open interest has increased from $68 million to $128 million in the past 12 days. Similarly, for Bybit it has risen from $35 million on March 14 to $100 million on March 22. Nonetheless, overall activity has slowed significantly across the globe over the past five weeks. “Markets in general – both traditional and cryptocurrency – have seen volumes hit as traders figure their way through the uncharted waters of recent weeks. Open interest on the BitMEX XBTUSD market, which remains the most liquid globally, has been impacted in line with what we have seen across the entire market.,” Aggregate open interest has declined by 50 percent from highs witnessed in mid-February, Skew’s CEO Emmanuel Goh told CoinDesk. Global open interest had risen above $5 billion in mid-February when bitcoin’s price was trading near $10,500. At press time, total open positions were around $1.6 billion. Given the decline in the institutional activity, bitcoin’s recent recovery rally looks to have been driven by the spot market, which is mainly dominated by long-term holders and retail traders. See also:Bitcoin and Gold: Evaluating Hard-Cap Currencies in Times of Financial Crisis Investors accumulated coins below $5,000 earlier this month, according to an indicator called “hodler net position change,” tracked by data firm Glassnode. The indicator stayed in the positive territory during the recent price slide, a sign net new positions were accumulated by investors (nicknamed “HODLers” by the crypto community). In the past, significant quantities were cashed out during bull markets of bitcoin, and net new positions were accumulated by HODLers in bear phases,according toAdamant Capital. • Stocks, Bitcoin Rally on Prospects for US Senate Stimulus Bill • Bitcoin Halving, Explained \|\| Mind Capital Crypto-fiat arbitrage, a refuge for the markets in the current crisis: MADRID, SPAIN / ACCESSWIRE / March 24, 2020 / Since the coronavirus alert was triggered in China in late 2019, the markets have suffered an unprecedented global downturn, a downturn that does not, however, affect trading results in crypto-fiat arbitrage, according to mind.capital This situation that is being experienced has the fear as a protagonist in various aspects of society. The measures that have had to be taken in order to put an end to it have generated a situation of historical crisis. Businesses and companies, both global and local, have been affected and the brake on the economy at all levels is more than evident, even more with the uncertainty and fear that generates some unknown end and consequences. All markets have suffered historic losses and virtually no market has been spared. The real estate market, the international stock markets, gold, even Bitcoin itself, which has long been defined by lovers of the crypto world as a refuge value, has suffered one of its biggest falls, up to 20% in a single day, not to mention other cryptoactives such as Ether which has even lost 30%, according to mind.capital. The reason for these falls has undoubtedly been the fear that has driven crypto users to sell looking for more liquidity at a time of great current uncertainty and lack of information about when and how the recovery from normality will begin. Paradoxically, in a situation of debacle in most markets, products based on the crypto market, especially crypto-fiat arbitrage, such as mind.capital, not only resist but have not been affected, since positive results in arbitrage operations are possible thanks to two factors, the decentralization of the market itself and the fluctuations in value of both crypto and fiat currency. Decentralization is part of the very nature of this market and the fluctuations in value are not affected by the crisis since, although crypto-actives have been less quoted, volatility only favours arbitrage strategies. Story continues CONTACT: Óscar and Gonzalo García-Pelayo VP and CEO of Mind.Capital +34 910 78 02 34 ( [email protected] ) SOURCE: Mind Capital View source version on accesswire.com: https://www.accesswire.com/582315/Mind-Capital-Crypto-fiat-arbitrage-a-refuge-for-the-markets-in-the-current-crisis \|\| Mind Capital Crypto-fiat arbitrage, a refuge for the markets in the current crisis: MADRID, SPAIN / ACCESSWIRE / March 24, 2020 / Since the coronavirus alert was triggered in China in late 2019, the markets have suffered an unprecedented global downturn, a downturn that does not, however, affect trading results in crypto-fiat arbitrage, according to mind.capital This situation that is being experienced has the fear as a protagonist in various aspects of society. The measures that have had to be taken in order to put an end to it have generated a situation of historical crisis. Businesses and companies, both global and local, have been affected and the brake on the economy at all levels is more than evident, even more with the uncertainty and fear that generates some unknown end and consequences. All markets have suffered historic losses and virtually no market has been spared. The real estate market, the international stock markets, gold, even Bitcoin itself, which has long been defined by lovers of the crypto world as a refuge value, has suffered one of its biggest falls, up to 20% in a single day, not to mention other cryptoactives such as Ether which has even lost 30%, according to mind.capital. The reason for these falls has undoubtedly been the fear that has driven crypto users to sell looking for more liquidity at a time of great current uncertainty and lack of information about when and how the recovery from normality will begin. Paradoxically, in a situation of debacle in most markets, products based on the crypto market, especially crypto-fiat arbitrage, such as mind.capital, not only resist but have not been affected, since positive results in arbitrage operations are possible thanks to two factors, the decentralization of the market itself and the fluctuations in value of both crypto and fiat currency. Decentralization is part of the very nature of this market and the fluctuations in value are not affected by the crisis since, although crypto-actives have been less quoted, volatility only favours arbitrage strategies. Story continues CONTACT: Óscar and Gonzalo García-Pelayo VP and CEO of Mind.Capital +34 910 78 02 34 ( [email protected] ) SOURCE: Mind Capital View source version on accesswire.com: https://www.accesswire.com/582315/Mind-Capital-Crypto-fiat-arbitrage-a-refuge-for-the-markets-in-the-current-crisis \|\| The Pandemic Gives Digital Currencies Another Chance to Shine: Marcelo M. Prates is a lawyer at the Central Bank of Brazil and holds a doctorate from Duke University School of Law. The views expressed here are his own and do not reflect the position or policy of any of the institutions with which he is affiliated. In times of crisis and radical uncertainty, the search for alternatives that can improve everyday life intensifies. The Bitcoin project was launched in October 2008, just six weeks after Lehman Brothers filed for bankruptcy and the financial crisis went from bad to dreadful. Since then, many other private cryptocurrencies have sprung up, and even central banks have began contemplating digital currencies of their own. None of these digital currencies became widely available or adopted, though. The coronavirus pandemic and its severe social, political and economic repercussions give digital currencies one more chance to shine. Unlike cash, digital currencies would not be a potential source of virus transmission or require persons to overlook social distancing when making payments. A central-bank digital currency (CBDC) available to the public could, moreover, allow the government to send money directly to the population as part of a stimulus plan without having to mail checks. Related: For DeFi’s Sake, Maker Should Take Blame for Black Thursday Losses But can digital currencies, private or public, finally deliver on their promises and change money for the better? It does not seem so. First, cryptocurrencies are an elitist type of money. Bitcoin (BTC), the reigning cryptocurrency until these days, may be attractive to the tech savvy and wealthy, but fails to meet the needs of people fighting for survival. As bitcoin enthusiast Peter McCormack reports from a recent visit to Venezuela , the persons who could benefit the most from bitcoin cannot use it. The poor and the less educated, who rely on cash and are the most affected by surging inflation, don’t have regular access to smartphones, connectivity or even electricity. See also: 4 Reasons Central Banks Should Launch Retail Digital Currencies Here lies a lesson for central banks. If they plan to issue a digital currency that can be used by banks and the public alike, they’ll need to adopt an all-or-nothing approach. Either everyone – no matter how poor, uneducated or old they may be – will have full access to the CBDC or it isn’t ready for launch. Related: US Senate Floats ‘Digital Dollar’ Bill After House Scrubs Term From Coronavirus Relief Plan Instability is the second reason why cryptocurrencies still fall short of revolutionizing money. Even if people from a country facing monetary disarray could flight for bitcoin to seek protection against hyperinflation, they would continue to face price instability. During the coronavirus outbreaks, bitcoin lost half its value in dollars in a matter of weeks – not what is expected from “ digital gold .” As usual, liquidity and safety were only found in U.S. bonds and dollars. Story continues So, the issuer or the people behind the currency still matter. Facing doomsday scenarios, both sophisticated investors in Tokyo and regular people in Harare trust the U.S. Treasury and the Federal Reserve above all. Does that mean governments are more reliable than private money issuers? Not necessarily. Bank deposits are the closest we have to a digital sovereign currency – and they’re privately issued. As Argentinians and Brazilians can tell, some governments will not think twice before freezing bank accounts and limiting withdrawals during a crisis. Imagine what they could do with a CBDC! More than that, about nine in 10 dollars in circulation are already created by private parties: commercial banks. Bank deposits are the closest we have to a digital sovereign currency – and they’re privately issued. To be sure, as Cornell law professors Robert Hockett and Saule Omarova well underscore , the modern financial system is a public-private partnership, in which a sovereign government takes a privately issued liability (bank deposits) as a liability of its own (money). This franchise-like arrangement also means that, when things go wrong, the sovereign government has to provide support in the form of liquidity assistance and bailouts. After all, it’s “the sovereign’s full faith and credit” that are at stake. A privately issued digital currency could only present a credible alternative to this public-private model now in place if it could avoid bitcoin’s shortcomings. Global technology companies, like Google or Facebook, are the most favorably positioned to come up with an option in the short run. They can take advantage of their extensive user base and geographical dispersion to quickly provide the public with a digital currency that would facilitate not only local transactions but also cross-border payments. See also: The US Should Use Stablecoins for Emergency Coronavirus Payments Facebook’s libra was the initial step in this direction. However, as I argue in another post , libra looks more like a security than a currency and may well be a short-lived project because of its flawed design. To avoid this fate, the Libra Association should shy away from the stablecoin model, which requires the digital currency to be backed by a basket of sovereign currencies. This feature may be useful to help the digital currency keep its value stable. But it also turns the currency into a digital claim on a portfolio of assets, much like shares in a money-market fund. If the Libra Association wants to create a truly digital currency, it should move libra closer to the bitcoin model. Libra could still have an identified issuer, but it should also have its own unit of account and not rely on sovereign currencies to be created, transferred, or valued. In this case, libra could deliver the benefits of both the public and private monies without the hassles. Because of Facebook’s 2.4 billion user base, a revamped libra would be readily available to more than 1/3 of the world’s population. Rich or poor, old or young, educated or illiterate, if these users can already access Facebook, they could easily use libra, too. Also, with a known and reliable issuer behind it, libra could gain the public’s confidence – as long as the Libra Association can overcome Facebook’s complicated history with privacy protection . And the more trustworthy the issuer, the more stable and safe the currency. Against this backdrop, Facebook seems to be the only institution ready to launch an alternative currency in the digital format that could be widely available and potentially stable. In any case, finding the money of choice eventually comes down to answering one salient yet old question: Who do you trust the most (or the least) to take care of your money? Your government, bitcoin’s developers and miners or Facebook? For comments, please contact [email protected] Related Stories ‘Digital Dollar’ Stripped From Latest US Coronavirus Relief Bill House Stimulus Bills Envision ‘Digital Dollar’ to Ease Coronavirus Recession (Updated) View comments \|\| The Pandemic Gives Digital Currencies Another Chance to Shine: Marcelo M. Prates is a lawyer at the Central Bank of Brazil and holds a doctorate from Duke University School of Law. The views expressed here are his own and do not reflect the position or policy of any of the institutions with which he is affiliated. In times of crisis and radical uncertainty, the search for alternatives that can improve everyday life intensifies. The Bitcoin project was launched in October 2008, just six weeks after Lehman Brothers filed for bankruptcy and the financial crisis went from bad to dreadful. Since then, many other private cryptocurrencies have sprung up, andeven central bankshave began contemplating digital currencies of their own. None of these digital currencies became widely available or adopted, though. The coronavirus pandemic and its severe social, political and economic repercussions give digital currencies one more chance to shine. Unlike cash, digital currencies would not be a potential source of virus transmission or require persons to overlook social distancing when making payments. A central-bank digital currency (CBDC) available to the public could, moreover, allow the government tosend money directly to the population as part of a stimulus planwithout having to mail checks. Related:For DeFi’s Sake, Maker Should Take Blame for Black Thursday Losses But can digital currencies, private or public, finally deliver on their promises and change money for the better? It does not seem so. First, cryptocurrencies are an elitist type of money.Bitcoin(BTC), the reigning cryptocurrency until these days, may be attractive to the tech savvy and wealthy, but fails to meet the needs of people fighting for survival. As bitcoin enthusiast Peter McCormackreports from a recent visit to Venezuela, the persons who could benefit the most from bitcoin cannot use it. The poor and the less educated, who rely on cash and are the most affected by surging inflation, don’t have regular access to smartphones, connectivity or even electricity. See also:4 Reasons Central Banks Should Launch Retail Digital Currencies Here lies a lesson for central banks. If they plan to issue a digital currency that can be used by banks and the public alike, they’ll need to adopt an all-or-nothing approach. Either everyone – no matter how poor, uneducated or old they may be – will have full access to the CBDC or it isn’t ready for launch. Related:US Senate Floats ‘Digital Dollar’ Bill After House Scrubs Term From Coronavirus Relief Plan Instability is the second reason why cryptocurrencies still fall short of revolutionizing money. Even if people from a country facing monetary disarray could flight for bitcoin to seek protection against hyperinflation, they would continue to face price instability. During the coronavirus outbreaks,bitcoin lost half its value in dollars in a matter of weeks– not what is expected from “digital gold.” As usual, liquidity and safety were only found in U.S. bonds and dollars. So, the issuer or the people behind the currency still matter. Facing doomsday scenarios, both sophisticated investors in Tokyo and regular people in Harare trust the U.S. Treasury and the Federal Reserve above all. Does that mean governments are more reliable than private money issuers? Not necessarily. Bank deposits are the closest we have to a digital sovereign currency – and they’re privately issued. As Argentinians and Brazilians can tell, some governments will not think twice before freezing bank accounts and limiting withdrawals during a crisis. Imagine what they could do with a CBDC! More than that,about nine in 10 dollars in circulationare already created by private parties: commercial banks. Bank deposits are the closest we have to a digital sovereign currency – and they’re privately issued. To be sure, as Cornell law professorsRobert Hockett and Saule Omarova well underscore, the modern financial system is a public-private partnership, in which a sovereign government takes a privately issued liability (bank deposits) as a liability of its own (money). This franchise-like arrangement also means that, when things go wrong, the sovereign government has to provide support in the form of liquidity assistance and bailouts. After all, it’s “the sovereign’s full faith and credit” that are at stake. A privately issued digital currency could only present a credible alternative to this public-private model now in place if it could avoid bitcoin’s shortcomings. Global technology companies, like Google or Facebook, are the most favorably positioned to come up with an option in the short run. They can take advantage of their extensive user base and geographical dispersion to quickly provide the public with a digital currency that would facilitate not only local transactions but also cross-border payments. See also:The US Should Use Stablecoins for Emergency Coronavirus Payments Facebook’s libra was the initial step in this direction. However,as I argue in another post, libra looks more like a security than a currency and may well be a short-lived project because of its flawed design. To avoid this fate, the Libra Association should shy away from the stablecoin model, which requires the digital currency to be backed by a basket of sovereign currencies. This feature may be useful to help the digital currency keep its value stable. But it also turns the currency into a digital claim on a portfolio of assets, much like shares in a money-market fund. If the Libra Association wants to create a truly digital currency, it should move libra closer to the bitcoin model. Libra could still have an identified issuer, but it should also have its own unit of account and not rely on sovereign currencies to be created, transferred, or valued. In this case, libra could deliver the benefits of both the public and private monies without the hassles. Because of Facebook’s 2.4 billion user base, a revamped libra would be readily available to more than 1/3 of the world’s population. Rich or poor, old or young, educated or illiterate, if these users can already access Facebook, they could easily use libra, too. Also, with a known and reliable issuer behind it, libra could gain the public’s confidence – as long as the Libra Association can overcomeFacebook’s complicated history with privacy protection. And the more trustworthy the issuer, the more stable and safe the currency. Against this backdrop, Facebook seems to be the only institution ready to launch an alternative currency in the digital format that could be widely available and potentially stable. In any case, finding the money of choice eventually comes down to answering one salient yet old question: Who do you trust the most (or the least) to take care of your money? Your government, bitcoin’s developers and miners or Facebook? For comments, please contact [email protected] • ‘Digital Dollar’ Stripped From Latest US Coronavirus Relief Bill • House Stimulus Bills Envision ‘Digital Dollar’ to Ease Coronavirus Recession (Updated) \|\| Bitcoin Halving, Explained: The Bitcoin halving will take place sometime in May 2020. What is the halving, how will it affect the price, and what does it mean for miners and the cryptocurrencys long-term prospects? Heres everything you need to know. The halvening sounds like a horror movie about an ax murderer. But its actually the nickname for one of the most hotly anticipated events in Bitcoins history. Sometime in May, the number of bitcoins (BTC) entering circulation every 10 minutes (known as block rewards) will drop by half, to 6.25 from 12.5. Its a milestone thats easy to see coming because it happens every four years and has happened twice before. Related: Bitcoin Rejected Near $7K Despite US Fiscal Agreement on $2T Stimulus Package The allure of possible riches is whats drawing so much attention to the upcoming event, which is more commonly referred to as the halving (some wags like to add the en to make it sound ominous). The amount of supply entering the system will suddenly shrink, but the demand will, in theory, stay the same, possibly driving up the cryptocurrencys price. As such, the event has inspired passionate debate about bitcoin price predictions and how the market will respond. Explore these other stories on Bitcoin Halving 2020: For Crypto Miners, Bitcoins Halving Could Mean a Doubling in Costs Bitcoins Halving Captures Growing Interest Among Google Searchers Worlds Top Crypto Miners Race to Roll Out Top-of-Line Machines Ahead of Bitcoin Halving Next Bitcoin Halving Could Squeeze out Retail Miners, But Jurys Split on Price The theory is that there will be less bitcoin available to buy if miners have less to sell, said Michael Dubrovsky, co-founder of mining R&D nonprofit PoWx . But the periodic decline in Bitcoins minting rate could have a deeper significance than any near-term price movements for the functioning of the currency. The block reward is an important component of Bitcoin, one that ensures the security of this leaderless system. As the rewards dwindle to zero in the decades ahead, it could potentially destabilize the economic incentives underlying bitcoins security. Story continues Related: Mt. Gox Trustee May Sell Some Crypto Assets, Says Draft Repayment Plan For those trying to make sense of this complex topic, CoinDesk offers the following explainer of Bitcoins third halving. What is the halving? New bitcoins enter circulation as block rewards, produced by miners who use expensive electronic equipment to earn or mine them. Every 210,000 blocks, or roughly every four years, the total number of bitcoin that miners can potentially win is halved. In 2009, the system started at 50 coins mined every 10 minutes. Two halvings later, 12.5 bitcoins are currently being dispensed every 10 minutes. This process will end with a total of 21 million coins, probably in the year 2140. Who chose the Bitcoin distribution schedule? Why? Bitcoins pseudonymous creator Satoshi Nakamoto, who may have been an individual or a team, disappeared roughly a year after releasing the software into the world. So, he or she or they (well just go with they from now on) are no longer around to explain why they chose this specific formula for adding new bitcoin into circulation. But early emails written by Nakamoto shed some light on the mysterious figures thinking. Shortly after releasing the Bitcoin white paper, Nakamoto summarized the various ways their chosen monetary policy (the schedule by which miners receive block rewards) could play out, pondering the circumstances under which it could lead to deflation (when a currencys purchasing power decreases) or inflation (when the prices of goods and services purchasable with a currency increase). At the time, Nakamoto couldnt have known how many people would use the new online money (if anyone). They elaborated very little on why they chose the particular formula they did: Coins have to get initially distributed somehow, and a constant rate seems like the best formula. In most state-issued currencies a central bank, such as the U.S. Federal Reserve, has tools at its disposal that enable it to add or remove dollars from circulation. If the economy is floundering, for instance, the Fed can increase circulation and encourage lending by purchasing securities from banks. Alternately, if the Fed wants to remove dollars from the economy, it can sell securities from its account. At the time, Nakamoto couldnt have known how many people would use the new online money (if anyone). For better or worse, bitcoin is a bit different. For one, the supply schedule is all but set in stone. Unlike the monetary policy of state-issued currencies, which unfold through political processes and human institutions, Bitcoins monetary policy is written into code shared across the network. Changing it would require an immense output of coordination and agreement across the community of Bitcoin users. Unlike most national currencies were familiar with like dollars or euros, bitcoin was designed with a fixed supply and predictable inflation schedule. There will only ever be 21 million bitcoins. This predetermined number makes them scarce, and its this scarcity alongside their utility that largely influences their market value, crypto wallet company Blockchain.com wrote in a blog post ahead of the 2016 halving. Another unique aspect of Bitcoin is Nakamoto programmed the block reward to decrease over time. This is another way in which it differs from the norm for modern financial systems, where central banks control the money supply. In stark contrast to Bitcoins halving block reward, the supply of the dollar has roughly tripled since 2000 . Nakamoto left clues that they created Bitcoin for political reasons. The first Bitcoin block features the headline of a newspaper article: The Times 03/Jan/2009 Chancellor on brink of second bailout for banks. Many have come to interpret it as a sign of Nakamotos political beliefs and goals. If widely adopted, Bitcoin could potentially reduce the power banks and governments have over monetary policy, including bailouts of struggling institutions. As shown with the block reward, no central entity can create bitcoin outside of the strict schedule. How does the halving influence bitcoins price? The halving is grabbing so much attention mostly because many believe it will lead to a price increase. The truth is, no one knows whats going to happen. Bitcoin has seen two halvings so far, which we can look to as precedent. The 2012 halving provided the first demonstration of how markets would respond to Nakamotos unorthodox supply schedule. Until then, the Bitcoin community didnt know how a sudden decline in rewards would affect the network. As it turned out, the price began to rise shortly after the halving. The second halving in 2016 was highly anticipated, as is the one now approaching, with CoinDesk running a live blog of the event and Blockchain.com putting out a countdown . Each halving has encouraged vigorous speculation about how the event would affect bitcoins price. On July 16, 2016, the day of the second halving, the price dropped by 10 percent to $610, but then shot back up to where it was before. There was little evidence the sudden reduction in bitcoins minting rate had a long-term impact on the price. At the time, CoinDesks Jacob Donnelly went so far as to call the event a boring vindication . While the immediate impact on the price of bitcoin was small, the market did tally a gradual increase over the year following the second halving. Some argue this increase was a delayed result of the halving. The theory is that when the supply of bitcoin declines, the demand for bitcoin will stay the same, pushing the price up. If that theory is correct, then we could observe similar price increases after future halvings, including the one scheduled for this year. Others argue that given the predictability of bitcoins halving schedule, this change in the minting rate is unlikely to shift the price. Traders have long known the bitcoin block reward will decrease, giving them ample time to prepare. Read More: Why Bitcoins Next Halving May Not Pump the Price Like Last Time Its possible that if enough people know about the halving in advance, they will buy bitcoin in anticipation, pushing the price up before the halving instead of after. This is what people mean when they argue the halving is priced in. Why do miners get these rewards? Bitcoin wouldnt work at all without these block rewards. As pseudonymous independent researcher Hasu put it, there are two parts to making Bitcoin work. Bitcoins ledger state should answer the question of who owns what, when?' Hasu told CoinDesk. The first part, who owns what? is solved by cryptography. Only the owner of a private key (which is like a secret access code) can spend the bitcoin. The game theory that secures Bitcoin requires that a) miners have an incentive to mine honest blocks [and] b) miners have a cost to attempting dishonesty. The second half (when?) is the big challenge and was unsolved before Bitcoin, Hasu explained. Otherwise, its easy for people to double-spend their coins, effectively creating money from thin air. Without the block rewards, the network would be in chaos. Hasu explains that if they have enough computing power, miners can attack the network in two ways: By double-spending coins or by stopping transactions from going through. But they are strongly incentivized not to try either, because then they would risk losing their block rewards. The game theory that secures Bitcoin requires that a) miners have an incentive to mine honest blocks [and] b) miners have a cost to attempting dishonesty, Dubrovsky said. In other words, miners will lose money if they dont follow the rules. Read More: Bitcoin 101: How Bitcoin Mining Works The more computing power miners direct towards Bitcoin, the harder it is to attack because an attacker would need to have a significant portion of this processing power, known as the hashrate, to execute such an attack. The more money they can earn by way of block rewards, the more mining power goes to Bitcoin, and thus the more protected the network is. What happens when block rewards get very small or taper off entirely? That is why the periodic decrease in rewards might eventually become an issue. Miners need an incentive to do what they do. They need to get paid. Theyre not running these expensive, electricity-guzzling computers for their health after all. But the consequence of this dropping block reward is that eventually, it will dwindle to nothing. Transaction fees, which users pay each time they send a transaction, are the other way miners earn money. (Theoretically, these fees are optional, although as a practical matter a transaction without one might have to wait a long time to be processed if the network is congested; the size of the fee is set by the user or their wallet software.) The fees are expected to become a more important source of remuneration for miners as the block reward falls. In a few decades when the reward gets too small, the transaction fee will become the main compensation for nodes. Im sure that in 20 years there will either be very large transaction volume or no volume, Nakamoto wrote. But for a long time, Bitcoin researchers have been considering the possibility transaction fees wont suffice. For one thing, it means transactions might need to grow more expensive over time to keep the network as secure. Its impossible to predict what will happen, but if we want a system that could last 100 years, we should be ready for the worst case. This cannot really work without very expensive transaction costs because Bitcoin cannot process huge quantities of transactions on-chain, Dubrovsky said. And, as discussed above, it is mining rewards that draw more computing power to Bitcoin, hardening it against attacks that try to circumvent the networks rules. Its unclear whether a future attenuated block reward will have the same allure for miners, even when supplemented with fees. I dont think this halving will make Bitcoin significantly less secure, but in eight to 12 years we could find ourselves in hot water, Hasu said. Part of the problem is that more than a decade after Bitcoins birth the market is still figuring out the true cost of protecting the network from attackers. Nobody knows the correct level of security needed to keep Bitcoin safe. Currently, Bitcoin pays out something like $5 billion per year and there are no successful attacks; however, there has been no price discovery. Bitcoin may be overpaying. To really find out the minimum level of security needed to avoid attacks, the mining rewards would need to be dropped to the point where attacks start happening and then increased until the attacks stop, Dubrovsky argued. Of course, this would be catastrophic for Bitcoin as its designed now, but it could really come to some kind of scenario like this if rewards dwindle and the Bitcoin community doesnt do anything about it, he added. Hasu said he hopes transaction fees will be enough to incentivize the security of Bitcoin in the end, but he thinks its worth anticipating the worst case. It should be clear that the incentive to attack Bitcoin today is larger than it was five years ago. We now have [U.S. President Donald] Trump, [China President Xi Jinping] and other world leaders talking critically about it. The more Bitcoin grows, the more they might see it as a threat and might eventually feel forced to react. That would be the worst case, anyway, Hasu said. This question is an interesting one to ponder when thinking about Bitcoins future prospects, though it might sound like a far-off matter in 2020. Its impossible to predict what will happen, but if we want a system that could last 100 years, we should be ready for the worst case, Hasu said. The worst case is demand for blockspace does not increase in the dramatic fashion that would be needed. As a result, block rewards would eventually trend toward zero. Bitcoin Halving Research Report Want more depth and data on how to invest against the Bitcoin halving? CoinDesk Research is producing a research paper for investors, to be released later this month. Sign up for our weekly investor newsletter, Institutional Crypto , to get a free download link when its available. Related Stories Stocks, Bitcoin Rally on Prospects for US Senate Stimulus Bill BitMEX Open Interest Collapses After Controversial Long Squeeze \|\| Bitcoin Halving, Explained: The Bitcoin halving will take place sometime in May 2020. What is the halving, how will it affect the price, and what does it mean for miners and the cryptocurrency’s long-term prospects? Here’s everything you need to know. “The halvening” sounds like a horror movie about an ax murderer. But it’s actually the nickname for one of the most hotly anticipated events in Bitcoin’s history. Sometime in May, the number ofbitcoins(BTC) entering circulation every 10 minutes (known as block rewards) will drop by half, to 6.25 from 12.5. It’s a milestone that’s easy to see coming because it happens every four years and has happened twice before. Related:Bitcoin Rejected Near $7K Despite US Fiscal Agreement on $2T Stimulus Package The allure of possible riches is what’s drawing so much attention to the upcoming event, which is more commonly referred to as the halving (some wags like to add the “en” to make it sound ominous). The amount of supply entering the system will suddenly shrink, but the demand will, in theory, stay the same, possibly driving up the cryptocurrency’s price. As such, the event has inspired passionate debate about bitcoin price predictions and how the market will respond. Explore these other stories on Bitcoin Halving 2020: • For Crypto Miners, Bitcoin’s Halving Could Mean a Doubling in Costs • Bitcoin’s Halving Captures Growing Interest – Among Google Searchers • World’s Top Crypto Miners Race to Roll Out Top-of-Line Machines Ahead of Bitcoin Halving • Next Bitcoin Halving Could Squeeze out Retail Miners, But Jury’s Split on Price “The theory is that there will be less bitcoin available to buy if miners have less to sell,” said Michael Dubrovsky, co-founder of mining R&D nonprofitPoWx. But the periodic decline in Bitcoin’s minting rate could have a deeper significance than any near-term price movements for the functioning of the currency. The block reward is an important component of Bitcoin, one that ensures the security of this leaderless system. As the rewards dwindle to zero in the decades ahead, it could potentially destabilize the economic incentives underlying bitcoin’s security. Related:Mt. Gox Trustee May Sell Some Crypto Assets, Says Draft Repayment Plan For those trying to make sense of this complex topic, CoinDesk offers the following explainer of Bitcoin’s third halving. New bitcoins enter circulation as block rewards, produced by “miners” who use expensive electronic equipment to earn or “mine” them. Every 210,000 blocks, or roughly every four years, the total number of bitcoin that miners can potentially win is halved. In 2009, the system started at 50 coins mined every 10 minutes. Two halvings later, 12.5 bitcoins are currently being dispensed every 10 minutes. This process will end with a total of 21 million coins, probably in the year 2140. Bitcoin’s pseudonymous creator Satoshi Nakamoto, who may have been an individual or a team, disappeared roughly a year after releasing the software into the world. So, he or she or they (we’ll just go with “they” from now on) are no longer around to explain why they chose this specific formula for adding new bitcoin into circulation. But early emails written by Nakamoto shed some light on the mysterious figure’s thinking. Shortly after releasing the Bitcoin white paper, Nakamotosummarizedthe various ways their chosen monetary policy (the schedule by which miners receive block rewards) could play out, pondering the circumstances under which it could lead to deflation (when a currency’s purchasing power decreases) or inflation (when the prices of goods and services purchasable with a currency increase). At the time, Nakamoto couldn’t have known how many people would use the new online money (if anyone). They elaborated very little on why they chose the particular formula they did: “Coins have to get initially distributed somehow, and a constant rate seems like the best formula.” In most state-issued currencies a central bank, such as the U.S. Federal Reserve, hastools at its disposalthat enable it to add or remove dollars from circulation. If the economy is floundering, for instance, the Fed can increase circulation and encourage lending bypurchasing securitiesfrom banks. Alternately, if the Fed wants to remove dollars from the economy, it can sell securities from its account. At the time, Nakamoto couldn’t have known how many people would use the new online money (if anyone). For better or worse, bitcoin is a bit different. For one, the supply schedule is all but set in stone. Unlike the monetary policy of state-issued currencies, which unfold through political processes and human institutions, Bitcoin’s monetary policy is written into code shared across the network. Changing it would require an immense output of coordination and agreement across the community of Bitcoin users. “Unlike most national currencies we’re familiar with like dollars or euros, bitcoin was designed with a fixed supply and predictable inflation schedule. There will only ever be 21 million bitcoins. This predetermined number makes them scarce, and it’s this scarcity alongside their utility that largely influences their market value,” crypto wallet company Blockchain.com wrote in ablog postahead of the 2016 halving. Another unique aspect of Bitcoin is Nakamoto programmed the block reward to decrease over time. This is another way in which it differs from the norm for modern financial systems, where central banks control the money supply. In stark contrast to Bitcoin’s halving block reward, the supply of the dollar hasroughly tripledsince 2000. Nakamoto left clues that they created Bitcoin for political reasons. The first Bitcoin block features the headline of a newspaper article: “The Times 03/Jan/2009 Chancellor on brink of second bailout for banks.” Manyhave come to interpret it as a sign of Nakamoto’s political beliefs and goals. If widely adopted, Bitcoin could potentially reduce the power banks and governments have over monetary policy, including bailouts of struggling institutions. As shown with the block reward, no central entity can create bitcoin outside of the strict schedule. The halving is grabbing so much attention mostly because many believe it will lead to a price increase. The truth is, no one knows what’s going to happen. Bitcoin has seen two halvings so far, which we can look to as precedent. The 2012 halving provided the first demonstration of how markets would respond to Nakamoto’s unorthodox supply schedule. Until then, the Bitcoin community didn’t know how a sudden decline in rewards would affect the network. As it turned out, the price began to rise shortly after the halving. The second halving in 2016 was highly anticipated, as is the one now approaching, with CoinDesk running a live blog of the event and Blockchain.com putting out a “countdown.” Each halving has encouraged vigorous speculation about how the event would affect bitcoin’s price. On July 16, 2016, the day of the second halving, the price dropped by 10 percent to $610, but then shot back up to where it was before. There was little evidence the sudden reduction in bitcoin’s minting rate had a long-term impact on the price. At the time, CoinDesk’s Jacob Donnelly went so far as to call the event a “boring vindication.” While the immediate impact on the price of bitcoin was small, the market did tally a gradual increase over the year following the second halving. Some argue this increase was a delayed result of the halving. The theory is that when the supply of bitcoin declines, the demand for bitcoin will stay the same, pushing the price up. If that theory is correct, then we could observe similar price increases after future halvings, including the one scheduled for this year. Othersarguethat given the predictability of bitcoin’s halving schedule, this change in the minting rate is unlikely to shift the price. Traders have long known the bitcoin block reward will decrease, giving them ample time to prepare. Read More:Why Bitcoin’s Next ‘Halving’ May Not Pump the Price Like Last Time It’s possible that if enough people know about the halving in advance, they will buy bitcoin in anticipation, pushing the price up before the halving instead of after. This is what people mean when they argue the halving is “priced in.” Bitcoin wouldn’t work at all without these block rewards. As pseudonymous independent researcher Hasu put it, there are two parts to making Bitcoin work. “Bitcoin’s ledger state should answer the question of ‘who owns what, when?'” Hasu told CoinDesk. The first part, “who owns what?” is solved by cryptography. Only the owner of a private key (which is like a secret access code) can spend the bitcoin. The game theory that secures Bitcoin requires that a) miners have an incentive to mine honest blocks [and] b) miners have a cost … to attempting dishonesty. “The second half (‘when?’) is the big challenge and was unsolved before Bitcoin,” Hasu explained. Otherwise, it’s easy for people to “double-spend” their coins, effectively creating money from thin air. Without the block rewards, the network would be in chaos. Hasu explains that if they have enough computing power, miners can attack the network in two ways: By double-spending coins or by stopping transactions from going through. But they are strongly incentivized not to try either, because then they would risk losing their block rewards. “The game theory that secures Bitcoin requires that a) miners have an incentive to mine honest blocks [and] b) miners have a cost … to attempting dishonesty,” Dubrovsky said. In other words, miners will lose money if they don’t follow the rules. Read More:Bitcoin 101: How Bitcoin Mining Works The more computing power miners direct towards Bitcoin, the harder it is to attack because an attacker would need to have a significant portion of this processing power, known as the hashrate, to execute such an attack. The more money they can earn by way of block rewards, the more mining power goes to Bitcoin, and thus the more protected the network is. That is why the periodic decrease in rewards might eventually become an issue. Miners need an incentive to do what they do. They need to get paid. They’re not running these expensive, electricity-guzzling computers for their health after all. But the consequence of this dropping block reward is that eventually, it will dwindle to nothing. Transaction fees, which users pay each time they send a transaction, are the other way miners earn money. (Theoretically, these fees are optional, although as a practical matter a transaction without one might have to wait a long time to be processed if the network is congested; the size of the fee is set by the user or their wallet software.) The fees are expected to become a more important source of remuneration for miners as the block reward falls. “In a few decades when the reward gets too small, the transaction fee will become the main compensation for nodes. I’m sure that in 20 years there will either be very large transaction volume or no volume,” Nakamoto wrote. But for a long time, Bitcoin researchers have been considering the possibility transaction fees won’t suffice. For one thing, it means transactions might need to grow more expensive over time to keep the network as secure. It’s impossible to predict what will happen, but if we want a system that could last 100 years, we should be ready for the worst case. “This cannot really work without very expensive transaction costs because Bitcoin cannot process huge quantities of transactions on-chain,” Dubrovsky said. And, as discussed above, it is mining rewards that draw more computing power to Bitcoin, hardening it against attacks that try to circumvent the network’s rules. It’s unclear whether a future attenuated block reward will have the same allure for miners, even when supplemented with fees. “I don’t think this halving will make Bitcoin significantly less secure, but in eight to 12 years we could find ourselves in hot water,” Hasu said. Part of the problem is that more than a decade after Bitcoin’s birth the market is still figuring out the true cost of protecting the network from attackers. “Nobody knows the correct level of security needed to keep Bitcoin safe. Currently, Bitcoin pays out something like $5 billion per year and there are no successful attacks; however, there has been no price discovery. Bitcoin may be overpaying. To really find out the minimum level of security needed to avoid attacks, the mining rewards would need to be dropped to the point where attacks start happening and then increased until the attacks stop,” Dubrovsky argued. “Of course, this would be catastrophic for Bitcoin as it’s designed now, but it could really come to some kind of scenario like this if rewards dwindle and the Bitcoin community doesn’t do anything about it,” he added. Hasu said he “hopes” transaction fees will be enough to incentivize the security of Bitcoin in the end, but he thinks it’s worth anticipating the “worst case.” “It should be clear that the incentive to attack Bitcoin today is larger than it was five years ago. We now have [U.S. President Donald] Trump, [China President Xi Jinping] and other world leaders talking critically about it. The more Bitcoin grows, the more they might see it as a threat and might eventually feel forced to react. That would be the worst case, anyway,” Hasu said. This question is an interesting one to ponder when thinking about Bitcoin’s future prospects, though it might sound like a far-off matter in 2020. “It’s impossible to predict what will happen, but if we want a system that could last 100 years, we should be ready for the worst case,” Hasu said. “The worst case is demand for blockspace does not increase in the dramatic fashion that would be needed. As a result, block rewards would eventually trend toward zero.” Bitcoin Halving Research Report • Stocks, Bitcoin Rally on Prospects for US Senate Stimulus Bill • BitMEX Open Interest Collapses After Controversial Long Squeeze \|\| Bitcoin Halving, Explained: The Bitcoin halving will take place sometime in May 2020. What is the halving, how will it affect the price, and what does it mean for miners and the cryptocurrency’s long-term prospects? Here’s everything you need to know. “The halvening” sounds like a horror movie about an ax murderer. But it’s actually the nickname for one of the most hotly anticipated events in Bitcoin’s history. Sometime in May, the number ofbitcoins(BTC) entering circulation every 10 minutes (known as block rewards) will drop by half, to 6.25 from 12.5. It’s a milestone that’s easy to see coming because it happens every four years and has happened twice before. Related:Bitcoin Rejected Near $7K Despite US Fiscal Agreement on $2T Stimulus Package The allure of possible riches is what’s drawing so much attention to the upcoming event, which is more commonly referred to as the halving (some wags like to add the “en” to make it sound ominous). The amount of supply entering the system will suddenly shrink, but the demand will, in theory, stay the same, possibly driving up the cryptocurrency’s price. As such, the event has inspired passionate debate about bitcoin price predictions and how the market will respond. Explore these other stories on Bitcoin Halving 2020: • For Crypto Miners, Bitcoin’s Halving Could Mean a Doubling in Costs • Bitcoin’s Halving Captures Growing Interest – Among Google Searchers • World’s Top Crypto Miners Race to Roll Out Top-of-Line Machines Ahead of Bitcoin Halving • Next Bitcoin Halving Could Squeeze out Retail Miners, But Jury’s Split on Price “The theory is that there will be less bitcoin available to buy if miners have less to sell,” said Michael Dubrovsky, co-founder of mining R&D nonprofitPoWx. But the periodic decline in Bitcoin’s minting rate could have a deeper significance than any near-term price movements for the functioning of the currency. The block reward is an important component of Bitcoin, one that ensures the security of this leaderless system. As the rewards dwindle to zero in the decades ahead, it could potentially destabilize the economic incentives underlying bitcoin’s security. Related:Mt. Gox Trustee May Sell Some Crypto Assets, Says Draft Repayment Plan For those trying to make sense of this complex topic, CoinDesk offers the following explainer of Bitcoin’s third halving. New bitcoins enter circulation as block rewards, produced by “miners” who use expensive electronic equipment to earn or “mine” them. Every 210,000 blocks, or roughly every four years, the total number of bitcoin that miners can potentially win is halved. In 2009, the system started at 50 coins mined every 10 minutes. Two halvings later, 12.5 bitcoins are currently being dispensed every 10 minutes. This process will end with a total of 21 million coins, probably in the year 2140. Bitcoin’s pseudonymous creator Satoshi Nakamoto, who may have been an individual or a team, disappeared roughly a year after releasing the software into the world. So, he or she or they (we’ll just go with “they” from now on) are no longer around to explain why they chose this specific formula for adding new bitcoin into circulation. But early emails written by Nakamoto shed some light on the mysterious figure’s thinking. Shortly after releasing the Bitcoin white paper, Nakamotosummarizedthe various ways their chosen monetary policy (the schedule by which miners receive block rewards) could play out, pondering the circumstances under which it could lead to deflation (when a currency’s purchasing power decreases) or inflation (when the prices of goods and services purchasable with a currency increase). At the time, Nakamoto couldn’t have known how many people would use the new online money (if anyone). They elaborated very little on why they chose the particular formula they did: “Coins have to get initially distributed somehow, and a constant rate seems like the best formula.” In most state-issued currencies a central bank, such as the U.S. Federal Reserve, hastools at its disposalthat enable it to add or remove dollars from circulation. If the economy is floundering, for instance, the Fed can increase circulation and encourage lending bypurchasing securitiesfrom banks. Alternately, if the Fed wants to remove dollars from the economy, it can sell securities from its account. At the time, Nakamoto couldn’t have known how many people would use the new online money (if anyone). For better or worse, bitcoin is a bit different. For one, the supply schedule is all but set in stone. Unlike the monetary policy of state-issued currencies, which unfold through political processes and human institutions, Bitcoin’s monetary policy is written into code shared across the network. Changing it would require an immense output of coordination and agreement across the community of Bitcoin users. “Unlike most national currencies we’re familiar with like dollars or euros, bitcoin was designed with a fixed supply and predictable inflation schedule. There will only ever be 21 million bitcoins. This predetermined number makes them scarce, and it’s this scarcity alongside their utility that largely influences their market value,” crypto wallet company Blockchain.com wrote in ablog postahead of the 2016 halving. Another unique aspect of Bitcoin is Nakamoto programmed the block reward to decrease over time. This is another way in which it differs from the norm for modern financial systems, where central banks control the money supply. In stark contrast to Bitcoin’s halving block reward, the supply of the dollar hasroughly tripledsince 2000. Nakamoto left clues that they created Bitcoin for political reasons. The first Bitcoin block features the headline of a newspaper article: “The Times 03/Jan/2009 Chancellor on brink of second bailout for banks.” Manyhave come to interpret it as a sign of Nakamoto’s political beliefs and goals. If widely adopted, Bitcoin could potentially reduce the power banks and governments have over monetary policy, including bailouts of struggling institutions. As shown with the block reward, no central entity can create bitcoin outside of the strict schedule. The halving is grabbing so much attention mostly because many believe it will lead to a price increase. The truth is, no one knows what’s going to happen. Bitcoin has seen two halvings so far, which we can look to as precedent. The 2012 halving provided the first demonstration of how markets would respond to Nakamoto’s unorthodox supply schedule. Until then, the Bitcoin community didn’t know how a sudden decline in rewards would affect the network. As it turned out, the price began to rise shortly after the halving. The second halving in 2016 was highly anticipated, as is the one now approaching, with CoinDesk running a live blog of the event and Blockchain.com putting out a “countdown.” Each halving has encouraged vigorous speculation about how the event would affect bitcoin’s price. On July 16, 2016, the day of the second halving, the price dropped by 10 percent to $610, but then shot back up to where it was before. There was little evidence the sudden reduction in bitcoin’s minting rate had a long-term impact on the price. At the time, CoinDesk’s Jacob Donnelly went so far as to call the event a “boring vindication.” While the immediate impact on the price of bitcoin was small, the market did tally a gradual increase over the year following the second halving. Some argue this increase was a delayed result of the halving. The theory is that when the supply of bitcoin declines, the demand for bitcoin will stay the same, pushing the price up. If that theory is correct, then we could observe similar price increases after future halvings, including the one scheduled for this year. Othersarguethat given the predictability of bitcoin’s halving schedule, this change in the minting rate is unlikely to shift the price. Traders have long known the bitcoin block reward will decrease, giving them ample time to prepare. Read More:Why Bitcoin’s Next ‘Halving’ May Not Pump the Price Like Last Time It’s possible that if enough people know about the halving in advance, they will buy bitcoin in anticipation, pushing the price up before the halving instead of after. This is what people mean when they argue the halving is “priced in.” Bitcoin wouldn’t work at all without these block rewards. As pseudonymous independent researcher Hasu put it, there are two parts to making Bitcoin work. “Bitcoin’s ledger state should answer the question of ‘who owns what, when?'” Hasu told CoinDesk. The first part, “who owns what?” is solved by cryptography. Only the owner of a private key (which is like a secret access code) can spend the bitcoin. The game theory that secures Bitcoin requires that a) miners have an incentive to mine honest blocks [and] b) miners have a cost … to attempting dishonesty. “The second half (‘when?’) is the big challenge and was unsolved before Bitcoin,” Hasu explained. Otherwise, it’s easy for people to “double-spend” their coins, effectively creating money from thin air. Without the block rewards, the network would be in chaos. Hasu explains that if they have enough computing power, miners can attack the network in two ways: By double-spending coins or by stopping transactions from going through. But they are strongly incentivized not to try either, because then they would risk losing their block rewards. “The game theory that secures Bitcoin requires that a) miners have an incentive to mine honest blocks [and] b) miners have a cost … to attempting dishonesty,” Dubrovsky said. In other words, miners will lose money if they don’t follow the rules. Read More:Bitcoin 101: How Bitcoin Mining Works The more computing power miners direct towards Bitcoin, the harder it is to attack because an attacker would need to have a significant portion of this processing power, known as the hashrate, to execute such an attack. The more money they can earn by way of block rewards, the more mining power goes to Bitcoin, and thus the more protected the network is. That is why the periodic decrease in rewards might eventually become an issue. Miners need an incentive to do what they do. They need to get paid. They’re not running these expensive, electricity-guzzling computers for their health after all. But the consequence of this dropping block reward is that eventually, it will dwindle to nothing. Transaction fees, which users pay each time they send a transaction, are the other way miners earn money. (Theoretically, these fees are optional, although as a practical matter a transaction without one might have to wait a long time to be processed if the network is congested; the size of the fee is set by the user or their wallet software.) The fees are expected to become a more important source of remuneration for miners as the block reward falls. “In a few decades when the reward gets too small, the transaction fee will become the main compensation for nodes. I’m sure that in 20 years there will either be very large transaction volume or no volume,” Nakamoto wrote. But for a long time, Bitcoin researchers have been considering the possibility transaction fees won’t suffice. For one thing, it means transactions might need to grow more expensive over time to keep the network as secure. It’s impossible to predict what will happen, but if we want a system that could last 100 years, we should be ready for the worst case. “This cannot really work without very expensive transaction costs because Bitcoin cannot process huge quantities of transactions on-chain,” Dubrovsky said. And, as discussed above, it is mining rewards that draw more computing power to Bitcoin, hardening it against attacks that try to circumvent the network’s rules. It’s unclear whether a future attenuated block reward will have the same allure for miners, even when supplemented with fees. “I don’t think this halving will make Bitcoin significantly less secure, but in eight to 12 years we could find ourselves in hot water,” Hasu said. Part of the problem is that more than a decade after Bitcoin’s birth the market is still figuring out the true cost of protecting the network from attackers. “Nobody knows the correct level of security needed to keep Bitcoin safe. Currently, Bitcoin pays out something like $5 billion per year and there are no successful attacks; however, there has been no price discovery. Bitcoin may be overpaying. To really find out the minimum level of security needed to avoid attacks, the mining rewards would need to be dropped to the point where attacks start happening and then increased until the attacks stop,” Dubrovsky argued. “Of course, this would be catastrophic for Bitcoin as it’s designed now, but it could really come to some kind of scenario like this if rewards dwindle and the Bitcoin community doesn’t do anything about it,” he added. Hasu said he “hopes” transaction fees will be enough to incentivize the security of Bitcoin in the end, but he thinks it’s worth anticipating the “worst case.” “It should be clear that the incentive to attack Bitcoin today is larger than it was five years ago. We now have [U.S. President Donald] Trump, [China President Xi Jinping] and other world leaders talking critically about it. The more Bitcoin grows, the more they might see it as a threat and might eventually feel forced to react. That would be the worst case, anyway,” Hasu said. This question is an interesting one to ponder when thinking about Bitcoin’s future prospects, though it might sound like a far-off matter in 2020. “It’s impossible to predict what will happen, but if we want a system that could last 100 years, we should be ready for the worst case,” Hasu said. “The worst case is demand for blockspace does not increase in the dramatic fashion that would be needed. As a result, block rewards would eventually trend toward zero.” Bitcoin Halving Research Report • Stocks, Bitcoin Rally on Prospects for US Senate Stimulus Bill • BitMEX Open Interest Collapses After Controversial Long Squeeze \|\| Huge step forward for the Bitcoin Sector as major Italian Bank start to trade bitcoin and Brookfield EuroSwiss offers Bitcoin Hedging Program for Bitcoin investors in the value of 2 Billion EUR: Few days only after Italian bank, Banco Sella, opens doors to Bitcoin, allowing customers to buy and sell Bitcoin,Brookfield-EuroSwisslaunches a hedging program for Bitcoin investors and holders. With Swiss credibility of over 50 years, while uncertainty took over stock markets and currencies EX all over the world due to the COVID19, Bitcoin is no more a stranger, and it's here to stay. ZURICH, SWITZERLAND / ACCESSWIRE / March 24, 2020/ According toBrookfield EuroSwiss, Bitcoin Holders, who want to minimize risks of Bitcoin rate crash while having the potential to profit when Bitcoin rate increases, now have the perfect program offered by the Swiss giant. As the first 2 Billion allocated by the private group Brookfield EuroSwiss are strictly operated under the swiss standards and record, it is not open for everyone but not restricted to just EU citizens. The requirements for interested bitcoin investors are; to be over the age of 21, have no criminal record, have a valid passport, and be available to join the program for at least six months. The COVID19 pandemic has had a massive influence on the digital financial platforms, and many of the wallets, exchanges, and debt-based accounts demonstrate significant growth of their activity, volume, and amount of transactions. However, after the growth we saw, like in many currencies, the response of Bitcoin to COVID19 was a steep crash and caused losses in the value of hundreds of millions daily. The Brookfield BTC hedging program was launched to protect the BTC holders and investors and provide the securities to the BTC players to cross with confidence the times between crashes and corrections. More than that, BTC holders and investors enjoy both worlds, hedge the losses, but not give up the profit. With the Bitcoin becoming eligible for the European Bank to trade and for Brookfield - EuroSwiss to offer a Bitcoin-based hedging instrument, it is only a matter of time before BTC becomes the common currency in use by everyone. With this development, demand and stability will come. The Brookfield Hedging program hedge not only the losses but also the profits. It allows the investors to choose the rate of exposure, and with direct correlation, your profit limitation will be determined. For instance, if you want to hedge your BTC EX rate to a maximum loss of -10%, your profit limitation will be a maximum of 28%. Brookfield has created a brilliant structure that allows BTC investors to send their bitcoin with full corporate confidence.Brookfield EuroSwississues a full unconditional corporate guarantee in value that equals the maximum profit limits. In essence, this way, Bitcoin investors have complete security and assurance that Brookfield will meet all of its obligations by the hedging program. The hedging program is excellent news, not only for the BTC holders and investors but to the general Bitcoin market. As a market leader like Brookfield EuroSwiss launches such an instrument, with over 50 years of Swiss credibility in the volume of 2 Billion EUR at first, it is evident that Bitcoin is here to stay. Contact: Alisa LunguCompany: Brookfield EuroswissAddress: Zurich Froschaugasse 58001 Zürich, SwitzerlandContact Number: + 2173603988Email:[email protected]:https://www.brookfield-euroswiss.com/ SOURCE:Brookfield Euroswiss View source version on accesswire.com:https://www.accesswire.com/582277/Huge-step-forward-for-the-Bitcoin-Sector-as-major-Italian-Bank-start-to-trade-bitcoin-and-Brookfield-EuroSwiss-offers-Bitcoin-Hedging-Program-for-Bitcoin-investors-in-the-value-of-2-Billion-EUR \|\| Huge step forward for the Bitcoin Sector as major Italian Bank start to trade bitcoin and Brookfield EuroSwiss offers Bitcoin Hedging Program for Bitcoin investors in the value of 2 Billion EUR: Few days only after Italian bank, Banco Sella, opens doors to Bitcoin, allowing customers to buy and sell Bitcoin, Brookfield-EuroSwiss launches a hedging program for Bitcoin investors and holders. With Swiss credibility of over 50 years, while uncertainty took over stock markets and currencies EX all over the world due to the COVID19, Bitcoin is no more a stranger, and it's here to stay. ZURICH, SWITZERLAND / ACCESSWIRE / March 24, 2020 / According to Brookfield EuroSwiss , Bitcoin Holders, who want to minimize risks of Bitcoin rate crash while having the potential to profit when Bitcoin rate increases, now have the perfect program offered by the Swiss giant. As the first 2 Billion allocated by the private group Brookfield EuroSwiss are strictly operated under the swiss standards and record, it is not open for everyone but not restricted to just EU citizens. The requirements for interested bitcoin investors are; to be over the age of 21, have no criminal record, have a valid passport, and be available to join the program for at least six months . The COVID19 pandemic has had a massive influence on the digital financial platforms, and many of the wallets, exchanges, and debt-based accounts demonstrate significant growth of their activity, volume, and amount of transactions. However, after the growth we saw, like in many currencies, the response of Bitcoin to COVID19 was a steep crash and caused losses in the value of hundreds of millions daily. The Brookfield BTC hedging program was launched to protect the BTC holders and investors and provide the securities to the BTC players to cross with confidence the times between crashes and corrections. More than that, BTC holders and investors enjoy both worlds, hedge the losses, but not give up the profit. With the Bitcoin becoming eligible for the European Bank to trade and for Brookfield - EuroSwiss to offer a Bitcoin-based hedging instrument, it is only a matter of time before BTC becomes the common currency in use by everyone. With this development, demand and stability will come. Story continues The Brookfield Hedging program hedge not only the losses but also the profits. It allows the investors to choose the rate of exposure, and with direct correlation, your profit limitation will be determined. For instance, if you want to hedge your BTC EX rate to a maximum loss of -10%, your profit limitation will be a maximum of 28%. Brookfield has created a brilliant structure that allows BTC investors to send their bitcoin with full corporate confidence. Brookfield EuroSwiss issues a full unconditional corporate guarantee in value that equals the maximum profit limits. In essence, this way, Bitcoin investors have complete security and assurance that Brookfield will meet all of its obligations by the hedging program. The hedging program is excellent news, not only for the BTC holders and investors but to the general Bitcoin market. As a market leader like Brookfield EuroSwiss launches such an instrument, with over 50 years of Swiss credibility in the volume of 2 Billion EUR at first, it is evident that Bitcoin is here to stay. Contact : Alisa Lungu Company : Brookfield Euroswiss Address : Zurich Froschaugasse 58001 Zürich, Switzerland Contact Number : + 2173603988 Email : [email protected] Website : https://www.brookfield-euroswiss.com/ SOURCE: Brookfield Euroswiss View source version on accesswire.com: https://www.accesswire.com/582277/Huge-step-forward-for-the-Bitcoin-Sector-as-major-Italian-Bank-start-to-trade-bitcoin-and-Brookfield-EuroSwiss-offers-Bitcoin-Hedging-Program-for-Bitcoin-investors-in-the-value-of-2-Billion-EUR \|\| Huge step forward for the Bitcoin Sector as major Italian Bank start to trade bitcoin and Brookfield EuroSwiss offers Bitcoin Hedging Program for Bitcoin investors in the value of 2 Billion EUR: Few days only after Italian bank, Banco Sella, opens doors to Bitcoin, allowing customers to buy and sell Bitcoin,Brookfield-EuroSwisslaunches a hedging program for Bitcoin investors and holders. With Swiss credibility of over 50 years, while uncertainty took over stock markets and currencies EX all over the world due to the COVID19, Bitcoin is no more a stranger, and it's here to stay. ZURICH, SWITZERLAND / ACCESSWIRE / March 24, 2020/ According toBrookfield EuroSwiss, Bitcoin Holders, who want to minimize risks of Bitcoin rate crash while having the potential to profit when Bitcoin rate increases, now have the perfect program offered by the Swiss giant. As the first 2 Billion allocated by the private group Brookfield EuroSwiss are strictly operated under the swiss standards and record, it is not open for everyone but not restricted to just EU citizens. The requirements for interested bitcoin investors are; to be over the age of 21, have no criminal record, have a valid passport, and be available to join the program for at least six months. The COVID19 pandemic has had a massive influence on the digital financial platforms, and many of the wallets, exchanges, and debt-based accounts demonstrate significant growth of their activity, volume, and amount of transactions. However, after the growth we saw, like in many currencies, the response of Bitcoin to COVID19 was a steep crash and caused losses in the value of hundreds of millions daily. The Brookfield BTC hedging program was launched to protect the BTC holders and investors and provide the securities to the BTC players to cross with confidence the times between crashes and corrections. More than that, BTC holders and investors enjoy both worlds, hedge the losses, but not give up the profit. With the Bitcoin becoming eligible for the European Bank to trade and for Brookfield - EuroSwiss to offer a Bitcoin-based hedging instrument, it is only a matter of time before BTC becomes the common currency in use by everyone. With this development, demand and stability will come. The Brookfield Hedging program hedge not only the losses but also the profits. It allows the investors to choose the rate of exposure, and with direct correlation, your profit limitation will be determined. For instance, if you want to hedge your BTC EX rate to a maximum loss of -10%, your profit limitation will be a maximum of 28%. Brookfield has created a brilliant structure that allows BTC investors to send their bitcoin with full corporate confidence.Brookfield EuroSwississues a full unconditional corporate guarantee in value that equals the maximum profit limits. In essence, this way, Bitcoin investors have complete security and assurance that Brookfield will meet all of its obligations by the hedging program. The hedging program is excellent news, not only for the BTC holders and investors but to the general Bitcoin market. As a market leader like Brookfield EuroSwiss launches such an instrument, with over 50 years of Swiss credibility in the volume of 2 Billion EUR at first, it is evident that Bitcoin is here to stay. Contact: Alisa LunguCompany: Brookfield EuroswissAddress: Zurich Froschaugasse 58001 Zürich, SwitzerlandContact Number: + 2173603988Email:[email protected]:https://www.brookfield-euroswiss.com/ SOURCE:Brookfield Euroswiss View source version on accesswire.com:https://www.accesswire.com/582277/Huge-step-forward-for-the-Bitcoin-Sector-as-major-Italian-Bank-start-to-trade-bitcoin-and-Brookfield-EuroSwiss-offers-Bitcoin-Hedging-Program-for-Bitcoin-investors-in-the-value-of-2-Billion-EUR \|\| XRP Dips Below 0.16039 Level, Down 2%: Investing.com - XRP fell bellow the $0.16039 level on Tuesday. XRP was trading at 0.16039 by 14:31 (18:31 GMT) on the Investing.com Index, down 2.38% on the day. It was the largest one-day percentage loss since March 23. The move downwards pushed XRP's market cap down to $7.05405B, or 0.00% of the total cryptocurrency market cap. At its highest, XRP's market cap was $20.48129B. XRP had traded in a range of $0.15712 to $0.16370 in the previous twenty-four hours. Over the past seven days, XRP has seen a rise in value, as it gained 3.22%. The volume of XRP traded in the twenty-four hours to time of writing was $1.13639B or 0.00% of the total volume of all cryptocurrencies. It has traded in a range of $0.1404 to $0.1745 in the past 7 days. At its current price, XRP is still down 95.12% from its all-time high of $3.29 set on January 4, 2018. Bitcoin was last at $6,600.7 on the Investing.com Index, up 4.90% on the day. Ethereum was trading at $135.87 on the Investing.com Index, a gain of 4.08%. Bitcoin's market cap was last at $120.79611B or 0.00% of the total cryptocurrency market cap, while Ethereum's market cap totaled $15.04369B or 0.00% of the total cryptocurrency market value. Related Articles Forte Taps 5 New Gaming Partners as ‘Blockchain by Itself Isn’t Enough’ ‘Only Fools are Choosing Bitcoin’ Says Gold Bug Peter Schiff Your Favorite Privacy-Minded Browser Is Teaming Up With Binance \|\| XRP Dips Below 0.16039 Level, Down 2%: XRP Dips Below 0.16039 Level, Down 2% Investing.com - XRP fell bellow the $0.16039 level on Tuesday. XRP was trading at 0.16039 by 14:31 (18:31 GMT) on the Investing.com Index, down 2.38% on the day. It was the largest one-day percentage loss since March 23. The move downwards pushed XRP's market cap down to $7.05405B, or 0.00% of the total cryptocurrency market cap. At its highest, XRP's market cap was $20.48129B. XRP had traded in a range of $0.15712 to $0.16370 in the previous twenty-four hours. Over the past seven days, XRP has seen a rise in value, as it gained 3.22%. The volume of XRP traded in the twenty-four hours to time of writing was $1.13639B or 0.00% of the total volume of all cryptocurrencies. It has traded in a range of $0.1404 to $0.1745 in the past 7 days. At its current price, XRP is still down 95.12% from its all-time high of $3.29 set on January 4, 2018. Elsewhere in cryptocurrency trading Bitcoin was last at $6,600.7 on the Investing.com Index, up 4.90% on the day. Ethereum was trading at $135.87 on the Investing.com Index, a gain of 4.08%. Bitcoin's market cap was last at $120.79611B or 0.00% of the total cryptocurrency market cap, while Ethereum's market cap totaled $15.04369B or 0.00% of the total cryptocurrency market value. Related Articles Forte Taps 5 New Gaming Partners as Blockchain by Itself Isnt Enough Only Fools are Choosing Bitcoin Says Gold Bug Peter Schiff Your Favorite Privacy-Minded Browser Is Teaming Up With Binance \|\| Gold has record breaking day: The announcement from the US Federal Reserve yesterday of unlimited quantitative easing created a record day for the price of gold. Long seen as a hedge against irresponsible economic policy, gold railed 6.8% to a price of $1,567. The increase in gold price of $83 was the largest since records began in 1984. Record breaking The price of gold has not seen highs of $1,700 since 2012 but there appears to be strong chance it could reach that level in the coming months, if not weeks. QE Infinity not going down so well? pic.twitter.com/mts9NMYPEq — Stacy Herbert (@stacyherbert) March 24, 2020 Alternatively, stocks did not react well to the Federal Reserve’s announcement . Rather than rebounding they had another poor day, with the Dow Jones slumping 3%. There are other factors to this slump, however. US Congress is currently at loggerheads regarding the $2 trillion coronavirus aid package. Republicans in the house have accused the Democrats of inserting unnecessary amendments to the bill, whilst the Democrats have argued the bill doesn’t go far enough. There are hopes that negotiations that lasted through the night might allow the bill to be approved today. The FTSE in the UK and the US futures market are both predicting a better day in the more traditional markets. Yet as we have seen in the past few weeks, these gains have often been wiped out the following day. Other factors could boost gold There are other factors that could boost the price of gold in these uncertain times other than the failing stock market and Federal Reserve action. With global supply chain s currently grappling with closed borders and a crippled workforce it may occur that the supply of gold will be hit harshly. This would suggest a further increase in demand due to the scarceness of the precious metal. Bitcoin meanwhile has again been performing strongly creeping up and currently around $6,700. Considering the large drop in the previous week the upside for Bitcoin also looks positive. \|\| Gold has record breaking day: The announcement from the US Federal Reserve yesterday of unlimited quantitative easing created a record day for the price of gold. Long seen as a hedge against irresponsible economic policy, gold railed 6.8% to a price of $1,567. The increase in gold price of $83 was the largest since records began in 1984. Record breaking The price of gold has not seen highs of $1,700 since 2012 but there appears to be strong chance it could reach that level in the coming months, if not weeks. QE Infinity not going down so well? pic.twitter.com/mts9NMYPEq — Stacy Herbert (@stacyherbert) March 24, 2020 Alternatively, stocks did not react well to the Federal Reserve’s announcement . Rather than rebounding they had another poor day, with the Dow Jones slumping 3%. There are other factors to this slump, however. US Congress is currently at loggerheads regarding the $2 trillion coronavirus aid package. Republicans in the house have accused the Democrats of inserting unnecessary amendments to the bill, whilst the Democrats have argued the bill doesn’t go far enough. There are hopes that negotiations that lasted through the night might allow the bill to be approved today. The FTSE in the UK and the US futures market are both predicting a better day in the more traditional markets. Yet as we have seen in the past few weeks, these gains have often been wiped out the following day. Other factors could boost gold There are other factors that could boost the price of gold in these uncertain times other than the failing stock market and Federal Reserve action. With global supply chain s currently grappling with closed borders and a crippled workforce it may occur that the supply of gold will be hit harshly. This would suggest a further increase in demand due to the scarceness of the precious metal. Bitcoin meanwhile has again been performing strongly creeping up and currently around $6,700. Considering the large drop in the previous week the upside for Bitcoin also looks positive. [Social Media Buzz] None available.	6716.44, 6469.80, 6242.19, 5922.04, 6429.84, 6438.64, 6606.78, 6793.62, 6733.39, 6867.53
Given the historical Bitcoin prices from the last 90 days, predict the next 10 daily closing prices. The historical prices are: 2173.40, 2320.42, 2443.64, 2304.98, 2202.42, 2038.87, 2155.80, 2255.61, 2175.47, 2286.41, 2407.88, 2488.55, 2515.35, 2511.81, 2686.81, 2863.20, 2732.16, 2805.62, 2823.81, 2947.71, 2958.11, 2659.63, 2717.02, 2506.37, 2464.58, 2518.56, 2655.88, 2548.29, 2589.60, 2721.79, 2689.10, 2705.41, 2744.91, 2608.72, 2589.41, 2478.45, 2552.45, 2574.79, 2539.32, 2480.84, 2434.55, 2506.47, 2564.06, 2601.64, 2601.99, 2608.56, 2518.66, 2571.34, 2518.44, 2372.56, 2337.79, 2398.84, 2357.90, 2233.34, 1998.86, 1929.82, 2228.41, 2318.88, 2273.43, 2817.60, 2667.76, 2810.12, 2730.40, 2754.86, 2576.48, 2529.45, 2671.78, 2809.01, 2726.45, 2757.18, 2875.34, 2718.26, 2710.67, 2804.73, 2895.89, 3252.91, 3213.94, 3378.94, 3419.94, 3342.47, 3381.28, 3650.62, 3884.71, 4073.26, 4325.13, 4181.93, 4376.63, 4331.69, 4160.62, 4193.70.	[Bitcoin Technical Analysis for 2017-08-19] Volume: 2975820032, RSI (14-day): 70.08, 50-day EMA: 3145.35, 200-day EMA: 2151.33 [Wider Market Context] None available. [Recent News (last 7 days)] Wall Street's biggest bear thinks bitcoin will surge to $6,000: Screen Shot 2017 08 18 at 12.07.16 PM (Fundstrat Founder Tom Lee is amplifying his bullish bet on bitcoin.Fundstrat) Fundstrat Founder Tom Lee isn't so positive on the stock market these days, but he's amplifying his bullish bet on bitcoin . In a note on Friday, Lee forecast that the cryptocurrency could rise to $6,000 a coin by the middle of next year. He said the big driver of this 29% rally through mid-2018 would be greater public awareness of bitcoin as a method of payment and as a store of value like gold. He maintained his 2022 target of $25,000. "We see bitcoin as gaining from institutional sponsorship, improving transaction platforms and ultimately, greater public adoption," Lee said. Investors who don't want to buy bitcoins will soon have a way to invest in the cryptocurrency. In July, the Commodity Futures Trading Commission cleared LedgerX , a cryptocurrency-trading platform, to offer bitcoin options by this fall. While also making it easier for investors to bet against bitcoin, Lee sees this as a bullish development because it would increase participation. Central banks could also jump in. "While one may say this is preposterous to say central banks would own bitcoin — we believe that Central banks would view crypto currencies differently if Bitcoin’s aggregate value exceeded $500 billion," Lee said. His forecasting model for bitcoin's value is based on Metcalfe's Law, which stipulates that a network's value increases exponentially based on the number of users within it. Lee projected that bitcoin user accounts would grow 50% by 2018. Technical analysis — traders' use of chart patterns for forecasting — also suggests that bitcoin is set to continue climbing. The cryptocurrency this year broke out of a four-year trading range. "Short-term traders should be prepared for another volatile consolidation period heading into late August given the XBT is nearing our next resistance levels with daily/short-term momentum becoming overbought," Lee cautioned. Bitcoin has surged about 337% this year. Story continues Lee's year-target for the S&P 500 is 2,275. It's the lowest among strategists at major firms tracked by Bloomberg, and implies that the index would fall about 6% from Friday's opening level. Screen Shot 2017 08 18 at 12.10.32 PM (Markets Insider) NOW WATCH: Stocks have shrugged off Trump headlines to hit new highs this week More From Business Insider Bitcoin tumbles below $4,000 GOLDMAN SACHS: Here's when we'll know bitcoin's top is in Here's a super-quick guide to what traders are talking about right now \|\| Wall Street's biggest bear thinks bitcoin will surge to $6,000: (Fundstrat Founder Tom Lee is amplifying his bullish bet on bitcoin.Fundstrat) Fundstrat Founder Tom Leeisn't so positiveon the stock market these days, but he's amplifying his bullish bet onbitcoin. In a note on Friday, Lee forecast that the cryptocurrency could rise to $6,000 a coin by the middle of next year. He said the big driver of this 29% rally through mid-2018 would be greater public awareness of bitcoin as a method of payment and as a store of value like gold. He maintained his 2022 target of $25,000. "We see bitcoin as gaining from institutional sponsorship, improving transaction platforms and ultimately, greater public adoption," Lee said. Investors who don't want to buy bitcoins will soon have a way to invest in the cryptocurrency. In July, the Commodity Futures Trading Commissioncleared LedgerX, a cryptocurrency-trading platform, to offer bitcoin options by this fall. While also making it easier for investors to bet against bitcoin, Lee sees this as a bullish development because it would increase participation. Central banks could also jump in. "While one may say this is preposterous to say central banks would own bitcoin — we believe that Central banks would view crypto currencies differently if Bitcoin’s aggregate value exceeded $500 billion," Lee said. His forecasting model for bitcoin's value is based on Metcalfe's Law, which stipulates that a network's value increases exponentially based on the number of users within it. Lee projected that bitcoin user accounts would grow 50% by 2018. Technical analysis — traders' use of chart patterns for forecasting — also suggests that bitcoin is set to continue climbing. The cryptocurrency this year broke out of a four-year trading range. "Short-term traders should be prepared for another volatile consolidation period heading into late August given the XBT is nearing our next resistance levels with daily/short-term momentum becoming overbought," Lee cautioned. Bitcoin has surged about 337% this year. Lee's year-target for the S&P 500 is 2,275. It's the lowest among strategists at major firms tracked by Bloomberg, and implies thatthe index would fallabout 6% from Friday's opening level. (Markets Insider) NOW WATCH:Stocks have shrugged off Trump headlines to hit new highs this week More From Business Insider • Bitcoin tumbles below $4,000 • GOLDMAN SACHS: Here's when we'll know bitcoin's top is in • Here's a super-quick guide to what traders are talking about right now \|\| Steve Jobs Regretted It. Google and Facebook Mastered It. Snap and Blue Apron Are Giving It a Try.: Steve Jobs famously owned very few shares of , partly because he divested his stake when he was drummed out of the company in the mid-1980s. Asked later what he thought of dual-class stock ownership structures that younger founders used to keep control of their companies, he said he wished the technique had been popular when he co-founded Apple . He would have taken advantage of it. That technique has been under fire for years. Larry Page and Sergey Brin used it to control , and when it went public they told investors not to buy the shares if they didn't like the arrangement. More recently founder control has become an item on the checklist of bad behavior by entrepreneurs. Along with their arrogance and insouciance, founders are considered insufficiently mindful of the concerns of the people from whom they are raising capital. This is undoubtedly true. It's also very likely beside the point. Erin Griffith, the estimable author of Fortune's Term Sheet newsletter, has a new column out that argues that the era of “founder-friendly” ownership structures will soon give way to better corporate governance in Silicon Valley. Her data points include Snap and Blue Apron , two founder-controlled companies whose share prices have cratered, and Uber , another outfit where the CEO, co-founder Travis Kalanick, let things run amok. This essay first appeared in Data Sheet, Fortune’s tech newsletter. Subscribe here . Here's my problem with this analysis. First, it suggests a causal relationship where one might not exist. I'm not convinced Snap and Blue Apron have performed poorly because their founders didn't fear being fired. It's possible. But it's also possible they made long-term bets--as controlling shareholders will--that haven't paid off so far or never will. Second, a good idea is a good idea no matter the governance. Google and investors seem pretty pleased Page and Brin and Mark Zuckberberg are in control. Facebook even endured a horrible IPO and a near-death strategic miss early on. Story continues There's no one right way to structure a startup. Investor control can be critical for getting rid of bad operators. And founder control can ensure long-term thinking that avoids stupid short-term moves. Or the reverse might happen regardless. As the saying goes, this time literally, you pays your money you takes your choice. See original article on Fortune.com More from Fortune.com Data Sheet: Steve Jobs' Regret, Tech vs. Neo-Nazis, Bitcoin Highs Data Sheet: Ford's New CEO Speaks, 40 Under 40, Apple CEO and Trump Data Sheet: Apple Does Hollywood, Fiat Joins BMW on Self-Driving Tech, Trump Swipes at Amazon Apple Has a Surprising New Growth Engine Data Sheet: Apple Profits, Intel and Trump, Pandora CEO, Uber vs. Benchmark \|\| Steve Jobs Regretted It. Google and Facebook Mastered It. Snap and Blue Apron Are Giving It a Try.: Steve Jobs famously owned very few shares of , partly because he divested his stake when he was drummed out of the company in the mid-1980s. Asked later what he thought of dual-class stock ownership structures that younger founders used to keep control of their companies, he said he wished the technique had been popular when he co-founded Apple . He would have taken advantage of it. That technique has been under fire for years. Larry Page and Sergey Brin used it to control , and when it went public they told investors not to buy the shares if they didn't like the arrangement. More recently founder control has become an item on the checklist of bad behavior by entrepreneurs. Along with their arrogance and insouciance, founders are considered insufficiently mindful of the concerns of the people from whom they are raising capital. This is undoubtedly true. It's also very likely beside the point. Erin Griffith, the estimable author of Fortune's Term Sheet newsletter, has a new column out that argues that the era of “founder-friendly” ownership structures will soon give way to better corporate governance in Silicon Valley. Her data points include Snap and Blue Apron , two founder-controlled companies whose share prices have cratered, and Uber , another outfit where the CEO, co-founder Travis Kalanick, let things run amok. This essay first appeared in Data Sheet, Fortune’s tech newsletter. Subscribe here . Here's my problem with this analysis. First, it suggests a causal relationship where one might not exist. I'm not convinced Snap and Blue Apron have performed poorly because their founders didn't fear being fired. It's possible. But it's also possible they made long-term bets--as controlling shareholders will--that haven't paid off so far or never will. Second, a good idea is a good idea no matter the governance. Google and investors seem pretty pleased Page and Brin and Mark Zuckberberg are in control. Facebook even endured a horrible IPO and a near-death strategic miss early on. Story continues There's no one right way to structure a startup. Investor control can be critical for getting rid of bad operators. And founder control can ensure long-term thinking that avoids stupid short-term moves. Or the reverse might happen regardless. As the saying goes, this time literally, you pays your money you takes your choice. See original article on Fortune.com More from Fortune.com Data Sheet: Steve Jobs' Regret, Tech vs. Neo-Nazis, Bitcoin Highs Data Sheet: Ford's New CEO Speaks, 40 Under 40, Apple CEO and Trump Data Sheet: Apple Does Hollywood, Fiat Joins BMW on Self-Driving Tech, Trump Swipes at Amazon Apple Has a Surprising New Growth Engine Data Sheet: Apple Profits, Intel and Trump, Pandora CEO, Uber vs. Benchmark \|\| 5 Reasons to Add NVIDIA (NVDA) Stock to Your Portfolio Now: Shares of NVIDIA Corporation NVDA have been performing well of late. This Zacks Rank #1 (Strong Buy) stock has gained a whopping 51.3% on a year-to-date basis. You can see the complete list of todays Zacks #1 Rank stocks here. If you havent taken advantage of the share price appreciation yet, the time is right for you to add the stock as it looks promising and is poised to carry the momentum ahead. Factors Working in Favor of NVIDIA Estimates on the Upswing We note that earnings estimates for NVIDIA have displayed a healthy uptrend. For 2018, all the three estimates moved up in the last 30 days, with the Zacks Consensus Estimate rising roughly 16.9% to $3.60 per share. The Zacks Consensus Estimate for 2019 also climbed 11.5% to $3.87. Stellar Q2 Earnings NVIDIA reported splendid second-quarter fiscal 2018 results, wherein it not only delivered a strong year-over-year improvement, but also came way ahead of the Zacks Consensus Estimate. This California-based graphic chip behemoth posted adjusted earnings (including stock-based compensation but excluding other one-time items) on a proportionate tax basis of 92 cents per share, handily beating the Zacks Consensus Estimate of 61 cents. Further, adjusted earnings increased from 44 cents reported in the year-ago quarter. Revenues not only surged 56.2% year over year to $2.230 billion, but also comfortably surpassed the Zacks Consensus Estimate of $1.948 billion, as well as managements projection of $1.95 billion (+/-2%). The year-over-year jump is primarily attributable to growth across all the platforms, namely, the GPUs gaming platform, Professional Visualization, datacenter and Tegra automotive platforms. Additionally, NVIDIA continued to gain strength in the artificial intelligence (AI) space, which positively impacted the revenues. Positive 3Q View The company provided encouraging fiscal third-quarter revenue guidance in second-quarter conference call, which was well above the Zacks Consensus Estimate at that time. For third-quarter fiscal 2018, NVIDIA expects revenues of approximately $2.35 billion (+/-2%), which was much higher than the Zacks Consensus Estimate of $2.14 billion. Ahead of the Industry The stock has been clocking solid returns in the last one year and has gained 159.3%, significantly outperforming the industry's gain of 30.5%. Story continues Other Factors Driving Growth The companys sustained focus on introducing fast and innovative products, as well as entering into agreements with leading PC game makers, has been driving Gaming GPU business. Further, it recently introduced Max-Q design standard, which will help in making thinner, quieter and faster gaming laptops. Moreover, NVIDIA joined forces with Activision ATVI and Bungie to bring Destiny 2 online-game to the PC for the first time. Furthermore, the companys Volta-based V100 accelerator was the most notable launch in the quarter. The Volta V100 GPU provides 10 times more deep learning power to the companys year-old predecessor, Pascal generation GPUs. Recntly, NVIDIA shipped a number of V100 GPU production units and per the company, it is currently supporting the industry's two most common AI frameworks Alphabets GOOGL Google TensorFlow and Facebook's Caffe. Increasing demand for cryptocurrencies owing from increased adoption of Bitcoin and newer technologies like Ethereum also aided in the rising of demand for GPU, consequently contributing to the companys GPU sales growth. Notably, in the last reported quarter, the company entered into a wide range of partnerships based on its AI technology, including Baidu, Foxconn, Inventec, Quanta, and Wistron. Demand for NVIDIAs DGX AI supercomputer also remained high as more organizations are keen on building AI-enabled applications. The company has shipped the system to over 300 customers, so far, and more than 1,000 are in the pipeline. Notably, per NVIDIA, Facebook is using its 128 DGX system. The company continued to witness solid momentum in its GRID graphics virtualization business. Moreover, the company won several contracts, but the deal with Amazons AMZN Amazon Web Services was the most remarkable. Per the company, AWSs G3 instances now run on NVIDIA Tesla GPUs. Bottom Line Given that the companys long-term earnings per share growth rate is 10.3% and has a market of $98.26 billion, we believe that the stock has much upside potential. Keeping these positives in mind, we feel NVIDIA is one such technology stock that deserves a place in investors portfolio. 4 Surprising Tech Stocks to Keep an Eye on Tech stocks have been a major force behind the markets record highs, but picking the best ones to buy can be tough. Theres a simple way to invest in the success of the entire sector. Zacks has just released a Special Report revealing one thing tech companies literally cannot function without. More importantly, it reveals 4 top stocks set to skyrocket on increasing demand for these devices. I encourage you to get the report now before the next wave of innovations really takes off. See Stocks Now>> Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Amazon.com, Inc. (AMZN) : Free Stock Analysis Report Alphabet Inc. (GOOGL) : Free Stock Analysis Report Activision Blizzard, Inc (ATVI) : Free Stock Analysis Report NVIDIA Corporation (NVDA) : Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research \|\| 5 Reasons to Add NVIDIA (NVDA) Stock to Your Portfolio Now: Shares ofNVIDIA CorporationNVDA have been performing well of late. This Zacks Rank #1 (Strong Buy) stock has gained a whopping 51.3% on a year-to-date basis. You can seethe complete list of today’s Zacks #1 Rank stocks here. If you haven’t taken advantage of the share price appreciation yet, the time is right for you to add the stock as it looks promising and is poised to carry the momentum ahead.Factors Working in Favor of NVIDIAEstimates on the UpswingWe note that earnings estimates for NVIDIA have displayed a healthy uptrend. For 2018, all the three estimates moved up in the last 30 days, with the Zacks Consensus Estimate rising roughly 16.9% to $3.60 per share. The Zacks Consensus Estimate for 2019 also climbed 11.5% to $3.87.Stellar Q2 EarningsNVIDIA reported splendid second-quarter fiscal 2018 results, wherein it not only delivered a strong year-over-year improvement, but also came way ahead of the Zacks Consensus Estimate.This California-based graphic chip behemoth posted adjusted earnings (including stock-based compensation but excluding other one-time items) on a proportionate tax basis of 92 cents per share, handily beating the Zacks Consensus Estimate of 61 cents. Further, adjusted earnings increased from 44 cents reported in the year-ago quarter.Revenues not only surged 56.2% year over year to $2.230 billion, but also comfortably surpassed the Zacks Consensus Estimate of $1.948 billion, as well as management’s projection of $1.95 billion (+/-2%). The year-over-year jump is primarily attributable to growth across all the platforms, namely, the GPUs gaming platform, Professional Visualization, datacenter and Tegra automotive platforms. Additionally, NVIDIA continued to gain strength in the artificial intelligence (AI) space, which positively impacted the revenues.Positive 3Q ViewThe company provided encouraging fiscal third-quarter revenue guidance in second-quarter conference call, which was well above the Zacks Consensus Estimate at that time. For third-quarter fiscal 2018, NVIDIA expects revenues of approximately $2.35 billion (+/-2%), which was much higher than the Zacks Consensus Estimate of $2.14 billion.Ahead of the IndustryThe stock has been clocking solid returns in the last one year and has gained 159.3%, significantly outperforming the industry's gain of 30.5%. Other Factors Driving GrowthThe company’s sustained focus on introducing fast and innovative products, as well as entering into agreements with leading PC game makers, has been driving Gaming GPU business. Further, it recently introduced Max-Q design standard, which will help in making thinner, quieter and faster gaming laptops. Moreover, NVIDIA joined forces with Activision ATVI and Bungie to bring Destiny 2 online-game to the PC for the first time.Furthermore, the company’s Volta-based V100 accelerator was the most notable launch in the quarter. The Volta V100 GPU provides 10 times more deep learning power to the company’s year-old predecessor, Pascal generation GPUs. Recntly, NVIDIA shipped a number of V100 GPU production units and per the company, it is currently supporting the industry's two most common AI frameworks – Alphabet’s GOOGL Google TensorFlow and Facebook's Caffe.Increasing demand for cryptocurrencies owing from increased adoption of Bitcoin and newer technologies like Ethereum also aided in the rising of demand for GPU, consequently contributing to the company’s GPU sales growth.Notably, in the last reported quarter, the company entered into a wide range of partnerships based on its AI technology, including Baidu, Foxconn, Inventec, Quanta, and Wistron. Demand for NVIDIA’s DGX AI supercomputer also remained high as more organizations are keen on building AI-enabled applications. The company has shipped the system to over 300 customers, so far, and more than 1,000 are in the pipeline. Notably, per NVIDIA, Facebook is using its 128 DGX system.The company continued to witness solid momentum in its GRID graphics virtualization business. Moreover, the company won several contracts, but the deal with Amazon’s AMZN Amazon Web Services was the most remarkable. Per the company, AWS’s G3 instances now run on NVIDIA Tesla GPUs.Bottom LineGiven that the company’s long-term earnings per share growth rate is 10.3% and has a market of $98.26 billion, we believe that the stock has much upside potential.Keeping these positives in mind, we feel NVIDIA is one such technology stock that deserves a place in investors’ portfolio. 4 Surprising Tech Stocks to Keep an Eye on Tech stocks have been a major force behind the market’s record highs, but picking the best ones to buy can be tough. There’s a simple way to invest in the success of the entire sector. Zacks has just released a Special Report revealing one thing tech companies literally cannot function without. More importantly, it reveals 4 top stocks set to skyrocket on increasing demand for these devices. I encourage you to get the report now – before the next wave of innovations really takes off. See Stocks Now>> Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days.Click to get this free reportAmazon.com, Inc. (AMZN) : Free Stock Analysis ReportAlphabet Inc. (GOOGL) : Free Stock Analysis ReportActivision Blizzard, Inc (ATVI) : Free Stock Analysis ReportNVIDIA Corporation (NVDA) : Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment Research \|\| Bitcoin peaks at $4,500 in latest milestone for volatile digital currency: Bitcoin - AFP or licensors Digital currency bitcoin soared to a new high of $4,500 (£3,492) on Thursday as the currency continues to grow following a split between its backers. The cryptocurrency has grown steadily for the past two weeks since it experienced a "hard fork", where two competing strands of bitcoin emerged after some of its leading developers disagreed on the best way to take it forward. Analysts had expected bitcoin to take a hit after the fork, which saw the emergence of a new currency called "bitcoin cash". But bitcoin, defying expectations has been spurred by the split, reaching an all time high from around $2,700 (£2,000) at the start of August. Bitcoin and other digital currencies are known for their volatility, with the currency losing around $12bn in market capitalisation in June when it fell from around $3,000 to $2,270, according to CNBC . FAQ \| Bitcoin Despite its surging price, bitcoin and other cryptocurrencies have proved unstable in the past. Rival currency ethereum halved in value between June and July this year from around $300 to $150. The vast price increases have created fears of a new bubble among seasoned investors. "There are no fundamentals behind any of this - it's all based on public perception, so you can start to see some really strange phenomena," Rob Moffat a partner at Balderton Capital told Reuters . Hard fork In July, key miners and developers of bitcoin agreed to adopt a new way of operating the cryptocurrency: since the technology is open source, changes are made to its underlying code if agreed by a consensus of users. The new technology, called Segwit2x, has gradually been adopted by key players in recent days. Segwit2x moves some of bitcoins transaction data outside of the block and on to a parallel track to allow more transactions to take place. After that happens, blocks would double in size some time in November. \|\| Bitcoin peaks at $4,500 in latest milestone for volatile digital currency: Bitcoin - AFP or licensors Digital currency bitcoin soared to a new high of $4,500 (£3,492) on Thursday as the currency continues to grow following a split between its backers. The cryptocurrency has grown steadily for the past two weeks since it experienced a "hard fork", where two competing strands of bitcoin emerged after some of its leading developers disagreed on the best way to take it forward. Analysts had expected bitcoin to take a hit after the fork, which saw the emergence of a new currency called "bitcoin cash". But bitcoin, defying expectations has been spurred by the split, reaching an all time high from around $2,700 (£2,000) at the start of August. Bitcoin and other digital currencies are known for their volatility, with the currency losing around $12bn in market capitalisation in June when it fell from around $3,000 to $2,270, according to CNBC . FAQ \| Bitcoin Despite its surging price, bitcoin and other cryptocurrencies have proved unstable in the past. Rival currency ethereum halved in value between June and July this year from around $300 to $150. The vast price increases have created fears of a new bubble among seasoned investors. "There are no fundamentals behind any of this - it's all based on public perception, so you can start to see some really strange phenomena," Rob Moffat a partner at Balderton Capital told Reuters . Hard fork In July, key miners and developers of bitcoin agreed to adopt a new way of operating the cryptocurrency: since the technology is open source, changes are made to its underlying code if agreed by a consensus of users. The new technology, called Segwit2x, has gradually been adopted by key players in recent days. Segwit2x moves some of bitcoins transaction data outside of the block and on to a parallel track to allow more transactions to take place. After that happens, blocks would double in size some time in November. \|\| Bitcoin peaks at $4,500 in latest milestone for volatile digital currency: Bitcoin - AFP or licensors Digital currency bitcoin soared to a new high of $4,500 (£3,492) on Thursday as the currency continues to grow following a split between its backers. The cryptocurrency has grown steadily for the past two weeks since it experienced a "hard fork", where two competing strands of bitcoin emerged after some of its leading developers disagreed on the best way to take it forward. Analysts had expected bitcoin to take a hit after the fork, which saw the emergence of a new currency called "bitcoin cash". But bitcoin, defying expectations has been spurred by the split, reaching an all time high from around $2,700 (£2,000) at the start of August. Bitcoin and other digital currencies are known for their volatility, with the currency losing around $12bn in market capitalisation in June when it fell from around $3,000 to $2,270, according to CNBC . FAQ \| Bitcoin Despite its surging price, bitcoin and other cryptocurrencies have proved unstable in the past. Rival currency ethereum halved in value between June and July this year from around $300 to $150. The vast price increases have created fears of a new bubble among seasoned investors. "There are no fundamentals behind any of this - it's all based on public perception, so you can start to see some really strange phenomena," Rob Moffat a partner at Balderton Capital told Reuters . Hard fork In July, key miners and developers of bitcoin agreed to adopt a new way of operating the cryptocurrency: since the technology is open source, changes are made to its underlying code if agreed by a consensus of users. The new technology, called Segwit2x, has gradually been adopted by key players in recent days. Segwit2x moves some of bitcoins transaction data outside of the block and on to a parallel track to allow more transactions to take place. After that happens, blocks would double in size some time in November. \|\| Is the Dollar Ready for a Tumble?: One does have to wonder whether the next 3 plus years are going to be anything like the last 8 months, with the U.S administration seemingly more capable of dictating the direction of the Dollar than the FED. Economic data out of the U.S this week hasn’t been too bad, with the weekly jobless claims figures out yesterday having been Dollar positive, while industrial production and manufacturing activity softened in Philly. The markets should be getting to the point where there is less sensitivity to noise from Capitol Hill, but judging by the moves in the Dollar this week, the Trump era has certainly yet to be completely priced out and there may be more to come for the Dollar and the markets as the investigations develop and Trump continues to chop and change members of the administration, not to mention speak. At the end of the day, there has been very little delivered by the administration for there to be any concerns over who comes and goes. Perhaps it should be Dollar positive for the existing members of the administration to be replaced by new… Its food for thought and when considering how little time has passed since Trump’s inauguration, one does need to ponder on how things will be in even a year from now. It’s hard to recall a U.S administration having such a damming impact on the Dollar, but they wanted a weaker Dollar and they got it. On the macroeconomic data front, it’s a much quieter day, with stats out of the U.S limited to prelim August consumer sentiment figures, which are forecasted to be Dollar positive. The survey will have been completed after Trump’s latest failings over Charlottesville and the mass walk out of CEOs this week from his two business councils. So it could well be downhill after this, though looking at how consumer confidence has fared through the year, it’s been pretty resilient despite the administration failing to deliver on growth policies pledged during and after the Presidential Election campaign. Story continues Perhaps of more interest will be how the EUR performs in the coming days, having slumped back to sub-$1.17 levels before a partial recovery. The ECB has certainly done a stellar job in pegging the EUR back from $1.19 levels, but with the economic outlook for the Eurozone on a more positive footing than that of the U.S and with geo-political risk having abated in the Eurozone, in stark contrast to the U.S, it’s hard to imagine the EUR easing any further. There’s very little else for the markets to deal with through the day, so on merit, it would be the Dollar that should be on the weaker footing at the end of the week. At the time of the report, the Dollar Spot Index was down 0.19% at 93.442, with both the EUR and the Pound on the bounce, gaining 0.26% and 0.21% respectively. It is a reflection of just how bad market sentiment is towards the U.S administration that even the Pound is able to make ground, despite a weakening economy and the uncertainty over Brexit and what looms. While we do expect the Dollar to remain under pressure, there will also be some support, particularly when considering current levels, though it’s anyone’s guess what comes next from the Oval Office. This article was originally posted on FX Empire More From FXEMPIRE: All the Reasons why Bitcoin Price Breaks Above $4000, What’s Next? Is the Dollar Ready for a Tumble? Morning Market Updates – EUR/USD Gold Looking for Breakout U.S. Dollar Rattled by Political Rumors, Geopolitical Risks, Fed Policy Market Snapshot – Stock Market Rally Hits a Roadblock \|\| Is the Dollar Ready for a Tumble?: One does have to wonder whether the next 3 plus years are going to be anything like the last 8 months, with the U.S administration seemingly more capable of dictating the direction of the Dollar than the FED. Economic data out of the U.S this week hasn’t been too bad, with the weekly jobless claims figures out yesterday having been Dollar positive, while industrial production and manufacturing activity softened in Philly. The markets should be getting to the point where there is less sensitivity to noise from Capitol Hill, but judging by the moves in the Dollar this week, the Trump era has certainly yet to be completely priced out and there may be more to come for the Dollar and the markets as the investigations develop and Trump continues to chop and change members of the administration, not to mention speak. At the end of the day, there has been very little delivered by the administration for there to be any concerns over who comes and goes. Perhaps it should be Dollar positive for the existing members of the administration to be replaced by new… Its food for thought and when considering how little time has passed since Trump’s inauguration, one does need to ponder on how things will be in even a year from now. It’s hard to recall a U.S administration having such a damming impact on the Dollar, but they wanted a weaker Dollar and they got it. On the macroeconomic data front, it’s a much quieter day, with stats out of the U.S limited to prelim August consumer sentiment figures, which are forecasted to be Dollar positive. The survey will have been completed after Trump’s latest failings over Charlottesville and the mass walk out of CEOs this week from his two business councils. So it could well be downhill after this, though looking at how consumer confidence has fared through the year, it’s been pretty resilient despite the administration failing to deliver on growth policies pledged during and after the Presidential Election campaign. Perhaps of more interest will be how the EUR performs in the coming days, having slumped back to sub-$1.17 levels before a partial recovery. The ECB has certainly done a stellar job in pegging the EUR back from $1.19 levels, but with the economic outlook for the Eurozone on a more positive footing than that of the U.S and with geo-political risk having abated in the Eurozone, in stark contrast to the U.S, it’s hard to imagine the EUR easing any further. There’s very little else for the markets to deal with through the day, so on merit, it would be the Dollar that should be on the weaker footing at the end of the week. At the time of the report, the Dollar Spot Index was down 0.19% at 93.442, with both the EUR and the Pound on the bounce, gaining 0.26% and 0.21% respectively. It is a reflection of just how bad market sentiment is towards the U.S administration that even the Pound is able to make ground, despite a weakening economy and the uncertainty over Brexit and what looms. While we do expect the Dollar to remain under pressure, there will also be some support, particularly when considering current levels, though it’s anyone’s guess what comes next from the Oval Office. Thisarticlewas originally posted on FX Empire • All the Reasons why Bitcoin Price Breaks Above $4000, What’s Next? • Is the Dollar Ready for a Tumble? • Morning Market Updates – EUR/USD • Gold Looking for Breakout • U.S. Dollar Rattled by Political Rumors, Geopolitical Risks, Fed Policy • Market Snapshot – Stock Market Rally Hits a Roadblock \|\| U.S. Dollar Rattled by Political Rumors, Geopolitical Risks, Fed Policy: The U.S. Dollar was all over the map on Thursday as investors continued to react to Wednesday’s dovish Fed minutes as well as concerns over the Trump administration’s ability to push forward its economic agenda. Geopolitical concerns also influenced trader decisions. The market were rattled by an attack in Barcelona and rumors of the possible departure of a key Trump administration official. The dollar posted a volatile two-sided move during the session, first driven lower by the Fed news from the previous session then driven higher by a sell-off in the Euro because of the dovish tone of its monetary policy meeting minutes. Prices continued to gyrate in both directions throughout the session as investors continually switched from “risk off” to “risk on” scenarios. The index took out the previous day’s low, but buy the end of the session, it still managed to eke out a small gain. The major U.S. stock indexes fell sharply on Thursday on concerns about President Trump’s ability to run a government and to push through key business-friendly legislation. The Dow Jones Industrial Average dropped 274.14 points, or 1.2 percent, for its biggest drop since May 17. The selling started early in the session on rumors that Gary Cohn, a business advisor to the president, could resign his role as director of the National Economic Council. This helped create fears that Trump would not be able to pass tax reform, or move forward with his plans to rebuild the country’s infrastructure. The indexes plunged on the Cohn rumor, but snapped back quickly after the government said he has no plans to resign and the selling was all speculation. The selling eventually resumed in reaction to the attack in Barcelona and the major indexes finished sharply lower for the day. Gold prices rose on Thursday, supported by the weaker U.S. Dollar and increased demand for safe-haven assets. The political uncertainty in the United States and the potential terrorist attack in Barcelona also drove investors out of risky assets and into lower-yielding assets like gold. U.S. West Texas Intermediate and internationally-favored Brent crude oil rose on Thursday as investors focused on U.S. crude oil stockpiles after the U.S. Energy Information Administration (EIA) suggested oil inventories at the Cushing, Oklahoma hub were declining. The EIA report showed commercial U.S. crude stocks have fallen by almost 13 percent from their peaks in March to 466.5 million barrels. Stocks are now lower than in 2016. If inventory declines continued at the current pace, U.S. stocks would fall below the five-year average in two months. Despite the increased pace of the declines, the price action suggests the market is skeptical about the longer-term prospects for rebalancing of the oil market. In the U.S., Weekly Unemployment Claims came in better than expected at 232K. Investors were looking for 240K. The Philly Fed Manufacturing Index edged higher to 18.9, slightly above the 18.3 forecast, but below the previous 19.5. Capacity Utilization met expectations at 76.7% and Industrial Production was slightly below the estimate and previous read at 0.2%. Thisarticlewas originally posted on FX Empire • All the Reasons why Bitcoin Price Breaks Above $4000, What’s Next? • U.S. Dollar Rattled by Political Rumors, Geopolitical Risks, Fed Policy • Market Snapshot – Stock Market Rally Hits a Roadblock • Global Stock Rally Peters Out • U.S. Dollar Declines in the Wake of Federal Reserve Report. Gold Edges Higher • UK Retail Sales, Eurozone Inflation and ECB Meeting Minutes to Drive the EUR and the GBP \|\| U.S. Dollar Rattled by Political Rumors, Geopolitical Risks, Fed Policy: The U.S. Dollar was all over the map on Thursday as investors continued to react to Wednesdays dovish Fed minutes as well as concerns over the Trump administrations ability to push forward its economic agenda. Geopolitical concerns also influenced trader decisions. The market were rattled by an attack in Barcelona and rumors of the possible departure of a key Trump administration official. Daily September U.S. Dollar Index The dollar posted a volatile two-sided move during the session, first driven lower by the Fed news from the previous session then driven higher by a sell-off in the Euro because of the dovish tone of its monetary policy meeting minutes. Prices continued to gyrate in both directions throughout the session as investors continually switched from risk off to risk on scenarios. The index took out the previous days low, but buy the end of the session, it still managed to eke out a small gain. U.S. Equity Markets The major U.S. stock indexes fell sharply on Thursday on concerns about President Trumps ability to run a government and to push through key business-friendly legislation. The Dow Jones Industrial Average dropped 274.14 points, or 1.2 percent, for its biggest drop since May 17. Daily September E-mini Dow Jones Industrial Average The selling started early in the session on rumors that Gary Cohn, a business advisor to the president, could resign his role as director of the National Economic Council. This helped create fears that Trump would not be able to pass tax reform, or move forward with his plans to rebuild the countrys infrastructure. The indexes plunged on the Cohn rumor, but snapped back quickly after the government said he has no plans to resign and the selling was all speculation. The selling eventually resumed in reaction to the attack in Barcelona and the major indexes finished sharply lower for the day. Daily December Comex Gold Gold Gold prices rose on Thursday, supported by the weaker U.S. Dollar and increased demand for safe-haven assets. The political uncertainty in the United States and the potential terrorist attack in Barcelona also drove investors out of risky assets and into lower-yielding assets like gold. Daily October West Texas Intermediate Crude Oil Crude Oil U.S. West Texas Intermediate and internationally-favored Brent crude oil rose on Thursday as investors focused on U.S. crude oil stockpiles after the U.S. Energy Information Administration (EIA) suggested oil inventories at the Cushing, Oklahoma hub were declining. The EIA report showed commercial U.S. crude stocks have fallen by almost 13 percent from their peaks in March to 466.5 million barrels. Stocks are now lower than in 2016. If inventory declines continued at the current pace, U.S. stocks would fall below the five-year average in two months. Story continues Despite the increased pace of the declines, the price action suggests the market is skeptical about the longer-term prospects for rebalancing of the oil market. Economic News In the U.S., Weekly Unemployment Claims came in better than expected at 232K. Investors were looking for 240K. The Philly Fed Manufacturing Index edged higher to 18.9, slightly above the 18.3 forecast, but below the previous 19.5. Capacity Utilization met expectations at 76.7% and Industrial Production was slightly below the estimate and previous read at 0.2%. This article was originally posted on FX Empire More From FXEMPIRE: All the Reasons why Bitcoin Price Breaks Above $4000, Whats Next? U.S. Dollar Rattled by Political Rumors, Geopolitical Risks, Fed Policy Market Snapshot Stock Market Rally Hits a Roadblock Global Stock Rally Peters Out U.S. Dollar Declines in the Wake of Federal Reserve Report. Gold Edges Higher UK Retail Sales, Eurozone Inflation and ECB Meeting Minutes to Drive the EUR and the GBP View comments \|\| Here's how Silicon Valley is responding to the Charlottesville rally, and Trump's comments on it: A Virginia rally instigated by white nationalists over the weekend has escalated tensions between PresidentDonald Trumpandthe business community. Many critics have perceived Trump's responses to violence in Charlottesville, Virginia, as equivocating the actions of white supremacists with those protesting racism. The discord in Washington came amid a growing divide between the administration and Silicon Valley, which have clashed over issues like the environment, immigration and LGBTQ rights. Although tech CEOs did not have the same formal ties to business advisory councils at the White House,many spoke outon the issue this week. Notably, though, some also stayed silent. Amazon(NASDAQ: AMZN)declined to comment to CNBC earlier this week, and Trump ally and venture capitalist Peter Thiel has also not responded to requests for comment. But still, Silicon Valley has overwhelmingly spoken out against both Trump's comments and the racist instigators. Here's what's happened so far: Apple Apple(NASDAQ: AAPL)CEOTim Cookresponded on Twitter as the events unfolded in Charlottesville, writing that "violence and racism have no place in America," and that the events were an "affront to America." In an internal memo obtained byRecodeon Wednesday, Cook announced the company would donate $1 million each to both the Southern Poverty Law Center and the Anti-Defamation League, and would also match employee donations until Sept. 30. "Hate is a cancer, and left unchecked it destroys everything in its path. Its scars last generations," Cook reportedly wrote. Apple also plans to set up donations to the Southern Poverty Law Center through iTunes, the memo said, and the tech giant has started to disable Apple Pay payments to white nationalist websites, the company toldBuzzFeed News. Facebook It was notMark Zuckerberg, but Facebook(NASDAQ: FB)'s chief operating officer,Sheryl Sandberg, who first responded to the events in Charlottesville. In a Monday Facebook post, Sandberg wrote that she was heartbroken, and called for her followers to teach their children values like equality and compassion. Zuckerbergshared more detailson Wednesday, writing that he had a hard time processing the events of the past few days. "I know a lot of us have been asking where this hate comes from. As a Jew, it's something I've wondered much of my life," Zuckerberg wrote. "It's a disgrace that we still need to say that neo-Nazis and white supremacists are wrong — as if this is somehow not obvious. My thoughts are with the victims of hate around the world, and everyone who has the courage to stand up to it every day." Facebook is actively monitoring for threatening posts celebrating terrorism after the rally in Charlottesville, Zuckerberg said. The company is perfecting a system for taking the posts down as soon as possible. IBM IBM(NYSE: IBM)CEOGinni Romettywas one of three female executives that initiated a process that dissolved White House business advisory panels,sources told CNBC. In an internal memo obtained by CNBC on Wednesday, Rometty wrote: "The despicable conduct of hate groups in Charlottesville last weekend, and the violence and death that resulted from it, shows yet again that our nation needs to focus on unity, inclusion, and tolerance. ... And we have always believed that dialogue is critical to progress; that is why I joined the President's Forum earlier this year. But this group can no longer serve the purpose for which it was formed." Intel Intel(NASDAQ: INTC)CEOBrian Krzanichwas one of the first major technology CEOs to defect from White House advisory panels after the events in Charlottesville. On Monday,Krzanich wrote, "I resigned because I want to make progress, while many in Washington seem more concerned with attacking anyone who disagrees with them. We should honor – not attack – those who have stood up for equality and other cherished American values. I hope this will change, and I remain willing to serve when it does." Uber Then-Uber CEOTravis Kalanickhad already made his disagreements with President Trump known earlier this year, when he stepped down from a White House council over the administration's immigration proposals. Uber banned several riders on their way to white supremacy rallies over the weekend, tellingBuzzFeed Newsthat the event was "deeply disturbing and tragic." In a letter to drivers obtained by The New York Times on Thursday, the company said it would continue to uphold the policy of banning people from the app for discrimination, and that Uber's app would have around-the-clock support. Google (and Dreamhost, GoDaddy, and Cloudflare) Google was one of the several companies to cancel the registration of a Nazi website called Daily Stormer this week. "We are canceling Daily Stormer's registration with Google Domains for violating our terms of service," a company representative said in a statement to CNBC. "The recent events in Charlottesville shocked all of us," Google CEO Sundar Pichai wrote in a statement on social media. "There is simply no place for this type of extremism in America. As a company, we stand united in condemnation." GoDaddy CEO Blake Irving also told CNBC that the company nixed the Daily Stormer, saying the site "went too far." "We always have to ride the fence on top of making sure that we are protecting a free and open internet, and regardless of whether speech is hateful, bigoted, racist, ignorant, tasteless, in many cases we will still keep that content up, because we don't want to be a censor," Irving said. "But when a line gets crossed and that speech starts to incite violence, then we have a responsibility to take that down." Cloudflare was another hosting service that ended up with the Daily Stormer domain. CEO Matthew Prince wrote an email to employees on Wednesday saying, "I woke up this morning in a bad mood and decided to kick them off the internet,"according to Reuters. DreamHost, on the other hand, faced a different issue this week: The Department of Justice sent DreamHost a search warrant for data that contain IP addresses and email addresses of people who have visited the websitedisruptj20.org, the activist group that protested Trump's inauguration. DreamHost said itwould not comply. Corning CorningCEO Wendell Weeks also stepped down from a Trump council Wednesday afternoon, citing adherence to the values of the company, which supplies parts to companies like Apple. "[T]he events of the last few days have transformed the council's laudable mission of job creation into a perception of political support for the Administration and its statements. This runs counter to my original intention and is inconsistent with Corning's Values. As a result I have made the decision to step down from the council," Weeks said ina statement to CNBC. Airbnb and PayPal PayPal has been working with online racial justice organization Color of Change tocut off funding for hate groups.Ahead of the rally, Airbnb barred housing rentals to people it believed were traveling to participate. "Prejudice, however, does not always march in the street," PayPal Senior Vice President Franz Paaschewrote in a statement. "Intolerance can take on a range of on-line and off-line forms, across a wide array of content and language. It is with this backdrop that PayPal strives to navigate the balance between freedom of expression and open dialogue — and the limiting and closing of sites that accept payments or raise funds to promote hate, violence and intolerance." Reddit and Twitter Both sites are also reportedly suspending accounts and content that incite violence. Twitter(NYSE: TWTR)CEOJack Dorseyretweeted former Vice President Joe Biden, who wrote "There is only one side," as well as former President Barack Obama, whose tweet, featuring a Nelson Mandela quote and picture, became the most popular tweet ever. Cisco "The country needed uniting words, words that would bring the country together around what happened this weekend," Cisco(NASDAQ: CSCO)CEOChuck Robbinstold CNBC on Thursday. "And I don't think we got those words ... from him. And I think that's what we need to focus on." — The Associated Press and CNBC's Patti Domm, Dominic Chu, Jordan Novet and Jacob Pramuk contributed to this report. More From CNBC • Apple and Aetna met last week—here's what they talked about • Bitcoin hits record and its market value now tops big tech companies • Alphabet's investment arms are growing, giving it clout over tech start-up scene \|\| Here's how Silicon Valley is responding to the Charlottesville rally, and Trump's comments on it: A Virginia rally instigated by white nationalists over the weekend has escalated tensions between President Donald Trump and the business community . Many critics have perceived Trump's responses to violence in Charlottesville, Virginia, as equivocating the actions of white supremacists with those protesting racism. The discord in Washington came amid a growing divide between the administration and Silicon Valley, which have clashed over issues like the environment, immigration and LGBTQ rights. Although tech CEOs did not have the same formal ties to business advisory councils at the White House, many spoke out on the issue this week. Notably, though, some also stayed silent. Amazon (NASDAQ: AMZN) declined to comment to CNBC earlier this week, and Trump ally and venture capitalist Peter Thiel has also not responded to requests for comment. But still, Silicon Valley has overwhelmingly spoken out against both Trump's comments and the racist instigators. Here's what's happened so far: Apple Apple (NASDAQ: AAPL) CEO Tim Cook responded on Twitter as the events unfolded in Charlottesville, writing that "violence and racism have no place in America," and that the events were an "affront to America." In an internal memo obtained by Recode on Wednesday, Cook announced the company would donate $1 million each to both the Southern Poverty Law Center and the Anti-Defamation League, and would also match employee donations until Sept. 30. "Hate is a cancer, and left unchecked it destroys everything in its path. Its scars last generations," Cook reportedly wrote. Apple also plans to set up donations to the Southern Poverty Law Center through iTunes, the memo said, and the tech giant has started to disable Apple Pay payments to white nationalist websites, the company told BuzzFeed News . Facebook It was not Mark Zuckerberg , but Facebook (NASDAQ: FB) 's chief operating officer, Sheryl Sandberg , who first responded to the events in Charlottesville. In a Monday Facebook post, Sandberg wrote that she was heartbroken, and called for her followers to teach their children values like equality and compassion. Story continues Zuckerberg shared more details on Wednesday, writing that he had a hard time processing the events of the past few days. "I know a lot of us have been asking where this hate comes from. As a Jew, it's something I've wondered much of my life," Zuckerberg wrote. "It's a disgrace that we still need to say that neo-Nazis and white supremacists are wrong as if this is somehow not obvious. My thoughts are with the victims of hate around the world, and everyone who has the courage to stand up to it every day." Facebook is actively monitoring for threatening posts celebrating terrorism after the rally in Charlottesville, Zuckerberg said. The company is perfecting a system for taking the posts down as soon as possible. IBM IBM (NYSE: IBM) CEO Ginni Rometty was one of three female executives that initiated a process that dissolved White House business advisory panels, sources told CNBC . In an internal memo obtained by CNBC on Wednesday, Rometty wrote: "The despicable conduct of hate groups in Charlottesville last weekend, and the violence and death that resulted from it, shows yet again that our nation needs to focus on unity, inclusion, and tolerance. ... And we have always believed that dialogue is critical to progress; that is why I joined the President's Forum earlier this year. But this group can no longer serve the purpose for which it was formed." Intel Intel (NASDAQ: INTC) CEO Brian Krzanich was one of the first major technology CEOs to defect from White House advisory panels after the events in Charlottesville. On Monday, Krzanich wrote , "I resigned because I want to make progress, while many in Washington seem more concerned with attacking anyone who disagrees with them. We should honor not attack those who have stood up for equality and other cherished American values. I hope this will change, and I remain willing to serve when it does." Uber Then-Uber CEO Travis Kalanick had already made his disagreements with President Trump known earlier this year, when he stepped down from a White House council over the administration's immigration proposals. Uber banned several riders on their way to white supremacy rallies over the weekend, telling BuzzFeed News that the event was "deeply disturbing and tragic." In a letter to drivers obtained by The New York Times on Thursday, the company said it would continue to uphold the policy of banning people from the app for discrimination, and that Uber's app would have around-the-clock support. Google (and Dreamhost, GoDaddy, and Cloudflare) Google was one of the several companies to cancel the registration of a Nazi website called Daily Stormer this week. "We are canceling Daily Stormer's registration with Google Domains for violating our terms of service," a company representative said in a statement to CNBC. "The recent events in Charlottesville shocked all of us," Google CEO Sundar Pichai wrote in a statement on social media. "There is simply no place for this type of extremism in America. As a company, we stand united in condemnation." GoDaddy CEO Blake Irving also told CNBC that the company nixed the Daily Stormer, saying the site "went too far." "We always have to ride the fence on top of making sure that we are protecting a free and open internet, and regardless of whether speech is hateful, bigoted, racist, ignorant, tasteless, in many cases we will still keep that content up, because we don't want to be a censor," Irving said. "But when a line gets crossed and that speech starts to incite violence, then we have a responsibility to take that down." Cloudflare was another hosting service that ended up with the Daily Stormer domain. CEO Matthew Prince wrote an email to employees on Wednesday saying, "I woke up this morning in a bad mood and decided to kick them off the internet," according to Reuters . DreamHost, on the other hand, faced a different issue this week: The Department of Justice sent DreamHost a search warrant for data that contain IP addresses and email addresses of people who have visited the website disruptj20.org , the activist group that protested Trump's inauguration. DreamHost said it would not comply . Corning Corning CEO Wendell Weeks also stepped down from a Trump council Wednesday afternoon, citing adherence to the values of the company, which supplies parts to companies like Apple. "[T]he events of the last few days have transformed the council's laudable mission of job creation into a perception of political support for the Administration and its statements. This runs counter to my original intention and is inconsistent with Corning's Values. As a result I have made the decision to step down from the council," Weeks said in a statement to CNBC . Airbnb and PayPal PayPal has been working with online racial justice organization Color of Change to cut off funding for hate groups. Ahead of the rally, Airbnb barred housing rentals to people it believed were traveling to participate. "Prejudice, however, does not always march in the street," PayPal Senior Vice President Franz Paasche wrote in a statement . "Intolerance can take on a range of on-line and off-line forms, across a wide array of content and language. It is with this backdrop that PayPal strives to navigate the balance between freedom of expression and open dialogue and the limiting and closing of sites that accept payments or raise funds to promote hate, violence and intolerance." Reddit and Twitter Both sites are also reportedly suspending accounts and content that incite violence. Twitter (NYSE: TWTR) CEO Jack Dorsey retweeted former Vice President Joe Biden, who wrote "There is only one side," as well as former President Barack Obama, whose tweet, featuring a Nelson Mandela quote and picture, became the most popular tweet ever. Cisco "The country needed uniting words, words that would bring the country together around what happened this weekend," Cisco (NASDAQ: CSCO) CEO Chuck Robbins told CNBC on Thursday . "And I don't think we got those words ... from him. And I think that's what we need to focus on." The Associated Press and CNBC's Patti Domm, Dominic Chu, Jordan Novet and Jacob Pramuk contributed to this report. WATCH: One of Trump's top CEO councils disbands More From CNBC Apple and Aetna met last weekhere's what they talked about Bitcoin hits record and its market value now tops big tech companies Alphabet's investment arms are growing, giving it clout over tech start-up scene \|\| Bitcoin hits record and its market value now tops big tech companies like Netflix, Paypal: Bitcoin(Exchange: BTC=-USS)climbed above $4,500 to a record high Thursday, giving it a market valuation larger than that of once high-flying technology stock Netflix(NASDAQ: NFLX). The digital currency rose about 2 percent to a new high of $4,522.13 on Thursday, according to CoinDesk. Bitcoin has a market value of about $74 billion, up $30 billion in August and topping Netflix's $72.7 billion market capitalization.Netflix shares Thursday were more than 1 percent lower amid a broader stock market decline. The stock traded nearly 13 percent below its all-time high hit July 21. The video streaming stock along with Facebook(NASDAQ: FB), Amazon.com(NASDAQ: AMZN)and Google's parent Alphabet(NASDAQ: GOOGL)are collectively known as "FANG" and have been U.S. stock market leaders in the last few years as investors bet on the transformative technologies. In 2015, Netflix and Amazon.com were the only S&P 500 stocks to double in price. That said, bitcoin is not a stock and comparisons to other stocks' market value, especially major U.S. market gainers like Netflix, are more to illustrate the significant size of interest in the digital currency. In addition, bitcoin's market value theoretically reflects interest in the potential for bitcoin to become a global means of payment. At the very least, many digital currency enthusiasts expect bitcoin to become "digital gold." But gold's market value of about $7.5 trillion dwarfs that of bitcoin by 100 times. At Thursday's record highs, bitcoin would rank 72nd by market value in the S&P 500 and 28th in the Dow Jones industrial average, just behind American Express(NYSE: AXP)' $78 billion market capitalization. Bitcoin's market value also tops those of leaders in a variety of major industries, including software company Adobe(NASDAQ: ADBE), financial technology firm PayPal(NASDAQ: PYPL), investment giant BlackRock(NYSE: BLK), industrial company Caterpillar(NYSE: CAT)and package shipping company FedEx(NYSE: FDX). To Ari Paul, chief investment officer of cryptocurrency investment firm BlockTower Capital, a better analogy is comparing bitcoin with PayPal's market capitalization. "PayPal was initially created with a similar vision to bitcoin — as permissionless money," Paul said. "PayPal wasn't able to fulfill that vision, but bitcoin is well on the way. Bitcoin can be used to transfer $100 million anywhere in the world in 10 minutes and for less than $2. Bitcoin rising in value above PayPal reflects its growing role as the best way to move money globally." However, the three other FANG stocks and Apple(NASDAQ: AAPL), which has the largest market capitalization at $824 billion, still each have market values far greater than that of bitcoin. General Electric(NYSE: GE), Chevron(NYSE: CVX)and MasterCard(NYSE: MA)also have far larger market capitalizations than bitcoin. Analysts said bitcoin's latest climb is a relief rally following the uneventful split of bitcoin into bitcoin and bitcoin cash earlier this month. Increased interest in bitcoin, especially from institutional investors, has helped the digital currency more than quadruple in price this year, analysts said. Netflix shares hold gains of about 35 percent this year but have fallen about 8 percent in August after Disney(NYSE: DIS)announced last week it willpull its movies fromthe service and start its own streaming platforms. More From CNBC • Market concerned Trump will scare away best advisors • Wall St. can ignore Trump's foibles if tax reform happens, Peter Boockvar says • Dow falls on concern Trump controversies have derailed GOP agenda \|\| Bitcoin hits record and its market value now tops big tech companies like Netflix, Paypal: Bitcoin(Exchange: BTC=-USS)climbed above $4,500 to a record high Thursday, giving it a market valuation larger than that of once high-flying technology stock Netflix(NASDAQ: NFLX). The digital currency rose about 2 percent to a new high of $4,522.13 on Thursday, according to CoinDesk. Bitcoin has a market value of about $74 billion, up $30 billion in August and topping Netflix's $72.7 billion market capitalization.Netflix shares Thursday were more than 1 percent lower amid a broader stock market decline. The stock traded nearly 13 percent below its all-time high hit July 21. The video streaming stock along with Facebook(NASDAQ: FB), Amazon.com(NASDAQ: AMZN)and Google's parent Alphabet(NASDAQ: GOOGL)are collectively known as "FANG" and have been U.S. stock market leaders in the last few years as investors bet on the transformative technologies. In 2015, Netflix and Amazon.com were the only S&P 500 stocks to double in price. That said, bitcoin is not a stock and comparisons to other stocks' market value, especially major U.S. market gainers like Netflix, are more to illustrate the significant size of interest in the digital currency. In addition, bitcoin's market value theoretically reflects interest in the potential for bitcoin to become a global means of payment. At the very least, many digital currency enthusiasts expect bitcoin to become "digital gold." But gold's market value of about $7.5 trillion dwarfs that of bitcoin by 100 times. At Thursday's record highs, bitcoin would rank 72nd by market value in the S&P 500 and 28th in the Dow Jones industrial average, just behind American Express(NYSE: AXP)' $78 billion market capitalization. Bitcoin's market value also tops those of leaders in a variety of major industries, including software company Adobe(NASDAQ: ADBE), financial technology firm PayPal(NASDAQ: PYPL), investment giant BlackRock(NYSE: BLK), industrial company Caterpillar(NYSE: CAT)and package shipping company FedEx(NYSE: FDX). To Ari Paul, chief investment officer of cryptocurrency investment firm BlockTower Capital, a better analogy is comparing bitcoin with PayPal's market capitalization. "PayPal was initially created with a similar vision to bitcoin — as permissionless money," Paul said. "PayPal wasn't able to fulfill that vision, but bitcoin is well on the way. Bitcoin can be used to transfer $100 million anywhere in the world in 10 minutes and for less than $2. Bitcoin rising in value above PayPal reflects its growing role as the best way to move money globally." However, the three other FANG stocks and Apple(NASDAQ: AAPL), which has the largest market capitalization at $824 billion, still each have market values far greater than that of bitcoin. General Electric(NYSE: GE), Chevron(NYSE: CVX)and MasterCard(NYSE: MA)also have far larger market capitalizations than bitcoin. Analysts said bitcoin's latest climb is a relief rally following the uneventful split of bitcoin into bitcoin and bitcoin cash earlier this month. Increased interest in bitcoin, especially from institutional investors, has helped the digital currency more than quadruple in price this year, analysts said. Netflix shares hold gains of about 35 percent this year but have fallen about 8 percent in August after Disney(NYSE: DIS)announced last week it willpull its movies fromthe service and start its own streaming platforms. More From CNBC • Market concerned Trump will scare away best advisors • Wall St. can ignore Trump's foibles if tax reform happens, Peter Boockvar says • Dow falls on concern Trump controversies have derailed GOP agenda \|\| Bitcoin hits record and its market value now tops big tech companies like Netflix, Paypal: Bitcoin (Exchange: BTC=-USS) climbed above $4,500 to a record high Thursday, giving it a market valuation larger than that of once high-flying technology stock Netflix (NASDAQ: NFLX) . The digital currency rose about 2 percent to a new high of $4,522.13 on Thursday, according to CoinDesk. Bitcoin has a market value of about $74 billion, up $30 billion in August and topping Netflix's $72.7 billion market capitalization. Netflix shares Thursday were more than 1 percent lower amid a broader stock market decline. The stock traded nearly 13 percent below its all-time high hit July 21. The video streaming stock along with Facebook (NASDAQ: FB) , Amazon.com (NASDAQ: AMZN) and Google's parent Alphabet (NASDAQ: GOOGL) are collectively known as "FANG" and have been U.S. stock market leaders in the last few years as investors bet on the transformative technologies. In 2015, Netflix and Amazon.com were the only S&P 500 stocks to double in price. That said, bitcoin is not a stock and comparisons to other stocks' market value, especially major U.S. market gainers like Netflix, are more to illustrate the significant size of interest in the digital currency. In addition, bitcoin's market value theoretically reflects interest in the potential for bitcoin to become a global means of payment. At the very least, many digital currency enthusiasts expect bitcoin to become "digital gold." But gold's market value of about $7.5 trillion dwarfs that of bitcoin by 100 times. At Thursday's record highs, bitcoin would rank 72nd by market value in the S&P 500 and 28th in the Dow Jones industrial average, just behind American Express (NYSE: AXP) ' $78 billion market capitalization. Bitcoin's market value also tops those of leaders in a variety of major industries, including software company Adobe (NASDAQ: ADBE) , financial technology firm PayPal (NASDAQ: PYPL) , investment giant BlackRock (NYSE: BLK) , industrial company Caterpillar (NYSE: CAT) and package shipping company FedEx (NYSE: FDX) . Story continues To Ari Paul, chief investment officer of cryptocurrency investment firm BlockTower Capital, a better analogy is comparing bitcoin with PayPal's market capitalization. "PayPal was initially created with a similar vision to bitcoin as permissionless money," Paul said. "PayPal wasn't able to fulfill that vision, but bitcoin is well on the way. Bitcoin can be used to transfer $100 million anywhere in the world in 10 minutes and for less than $2. Bitcoin rising in value above PayPal reflects its growing role as the best way to move money globally." However, the three other FANG stocks and Apple (NASDAQ: AAPL) , which has the largest market capitalization at $824 billion, still each have market values far greater than that of bitcoin. General Electric (NYSE: GE) , Chevron (NYSE: CVX) and MasterCard (NYSE: MA) also have far larger market capitalizations than bitcoin. Analysts said bitcoin's latest climb is a relief rally following the uneventful split of bitcoin into bitcoin and bitcoin cash earlier this month. Increased interest in bitcoin, especially from institutional investors, has helped the digital currency more than quadruple in price this year, analysts said. Netflix shares hold gains of about 35 percent this year but have fallen about 8 percent in August after Disney (NYSE: DIS) announced last week it will pull its movies from the service and start its own streaming platforms. WATCH: Should you invest in a cryptocurrency? More From CNBC Market concerned Trump will scare away best advisors Wall St. can ignore Trump's foibles if tax reform happens, Peter Boockvar says Dow falls on concern Trump controversies have derailed GOP agenda \|\| Digital Power, Growth Through Acquisition, Innovation in Cryptocurrencies and Bitcoin Mining: NEW YORK, NY / ACCESSWIRE / August 17, 2017 /Traders News Source, a leading independent equity research and corporate access firm focused on small and mid-cap public companies is issuing a comprehensive report with no obligation on Digital Power Corporation (NYSE American: DPW), a company that designs, manufactures, and sells high-grade customized and off-the-shelf power system solutions. The Company's wholly owned subsidiary, Digital Power Limited that does business as Gresham Power Electronics, is based in Salisbury, UK. The Company's majority owned subsidiary, Microphase Corporation, has its headquarters in Shelton, CT. Digital Power recently announced the formation of a subsidiary, Coolisys Technologies, Inc. The company also announced that Coolisys has entered into an Agreement with PoW Digital Mining to lead its development of an equipment and services portfolio targeting Digital Mining and related research and development of Crypto Currency. These active digital mining markets led by Bitcoin, Ethereum and the other 900+ digital currencies have created a growing hardware demand driving the need for efficient low-cost power solutions. Get more details about Digital’s Bitcoin Mining venture and a Q1 review here:READ MORE. Copy and paste to your browser may be required to view the report -http://tradersnewssource.com/digital-power/. Coolisys is a wholly owned subsidiary operating as a technology-centric holding company dedicated to servicing the defense and aerospace sectors, as well as industrial and medical based businesses worldwide. Coolisys, has recently entered into an agreement to purchase Power-Plus Technical Distributors, LLC, a California limited liability company. Power-Plus is in the business of transforming standard off-the-shelf power supplies into fully tested, plug-and-play power systems specifically tailored to meet customer applications. As per management, this acquisition would add significant value and will be assisting Coolisys to unlock value throughout its subsidiaries. Get full details of these developments and an analysts target price in our full report:READ MORE. Copy and paste to your browser may be required to view the report -http://tradersnewssource.com/digital-power/. DISCLOSURE Traders News Source LLC (TNS) produces regular sponsored and non-sponsored reports, articles, stock market blogs, and popular investment newsletters covering small and micro-cap equity markets. TNS has two distinct and independent departments. One department produces non-sponsored analyst certified content generally in the form of press releases, articles, and reports covering equities listed on NYSE, NASDAQ, and OTC exchanges. The other produces sponsored content (in most cases not reviewed by a registered analyst), which typically consists of compensated investment newsletters, articles, and reports covering listed stocks and micro-caps. Such sponsored content is outside the scope of procedures detailed below. TNS has not been compensated, directly or indirectly, for producing or publishing this document. PRESS RELEASE PROCEDURES The non-sponsored content contained herein has been prepared by a writer (the "Author") and is fact checked and reviewed by a third-party research service company (the "Reviewer") represented by a chartered financial analyst, for further information on analyst credentials, please [email protected]. Vikas Agrawal, a CFA® charter holder (the "Sponsor"), provides necessary guidance in preparing the document templates. The Reviewer has reviewed and revised the content, as necessary, based on publicly available information which is believed to be reliable. Content is researched, written, and reviewed on a reasonable-effort basis. The Reviewer has not performed any independent investigations or forensic audits to validate the information herein. The Reviewer has only independently reviewed the information provided by the Author per the procedures outlined by TNS. TNS is not entitled to veto or interfere in the application of such procedures by the third-party research service company to the articles, documents, or reports. Unless otherwise noted, any content outside of this document has no association with the Author or the Reviewer in any way. NO WARRANTY TNS, the Author, and the Reviewer are not responsible for any error which may be occasioned at the time of printing of this document or any error, mistake, or shortcoming. No liability is accepted whatsoever for any direct, indirect, or consequential loss arising from the use of this document. TNS, the Author, and the Reviewer expressly disclaim any fiduciary responsibility or liability for any consequences, financial or otherwise arising from any reliance placed on the information in this document. Additionally, TNS, the Author, and the Reviewer do not (1) guarantee the accuracy, timeliness, completeness, or correct sequencing of the information, or (2) warrant any results from use of the information. The included information is subject to change without notice. NOT AN OFFERING This document is not intended as an offering, recommendation, or a solicitation of an offer to buy or sell the securities mentioned or discussed, and is to be used for informational purposes only. Please read all associated disclosures and disclaimers in full before investing. Neither TNS nor any party affiliated with us is a registered investment adviser or broker-dealer with any agency or in any jurisdiction whatsoever. To download our report(s), read our disclosures, or for more information, visithttp://www.tradersnewssource.com. For any questions, inquiries, or comments reach out to us directly. If you're a company we are covering and wish to no longer be featured on our coverage list, contact us via email at:[email protected] CFA® and Chartered Financial Analyst® are registered trademarks owned by CFA Institute. CONTACT: [email protected] SOURCE:Traders News Source \|\| Digital Power, Growth Through Acquisition, Innovation in Cryptocurrencies and Bitcoin Mining: NEW YORK, NY / ACCESSWIRE / August 17, 2017 / Traders News Source, a leading independent equity research and corporate access firm focused on small and mid-cap public companies is issuing a comprehensive report with no obligation on Digital Power Corporation (NYSE American: DPW), a company that designs, manufactures, and sells high-grade customized and off-the-shelf power system solutions. The Company's wholly owned subsidiary, Digital Power Limited that does business as Gresham Power Electronics, is based in Salisbury, UK. The Company's majority owned subsidiary, Microphase Corporation, has its headquarters in Shelton, CT. Digital Power recently announced the formation of a subsidiary, Coolisys Technologies, Inc. The company also announced that Coolisys has entered into an Agreement with PoW Digital Mining to lead its development of an equipment and services portfolio targeting Digital Mining and related research and development of Crypto Currency. These active digital mining markets led by Bitcoin, Ethereum and the other 900+ digital currencies have created a growing hardware demand driving the need for efficient low-cost power solutions. Get more details about Digitals Bitcoin Mining venture and a Q1 review here: READ MORE . Copy and paste to your browser may be required to view the report - http://tradersnewssource.com/digital-power/ . Coolisys is a wholly owned subsidiary operating as a technology-centric holding company dedicated to servicing the defense and aerospace sectors, as well as industrial and medical based businesses worldwide. Coolisys, has recently entered into an agreement to purchase Power-Plus Technical Distributors, LLC, a California limited liability company. Power-Plus is in the business of transforming standard off-the-shelf power supplies into fully tested, plug-and-play power systems specifically tailored to meet customer applications. As per management, this acquisition would add significant value and will be assisting Coolisys to unlock value throughout its subsidiaries. Story continues Get full details of these developments and an analysts target price in our full report: READ MORE . Copy and paste to your browser may be required to view the report - http://tradersnewssource.com/digital-power/ . DISCLOSURE Traders News Source LLC (TNS) produces regular sponsored and non-sponsored reports, articles, stock market blogs, and popular investment newsletters covering small and micro-cap equity markets. TNS has two distinct and independent departments. One department produces non-sponsored analyst certified content generally in the form of press releases, articles, and reports covering equities listed on NYSE, NASDAQ, and OTC exchanges. The other produces sponsored content (in most cases not reviewed by a registered analyst), which typically consists of compensated investment newsletters, articles, and reports covering listed stocks and micro-caps. Such sponsored content is outside the scope of procedures detailed below. TNS has not been compensated, directly or indirectly, for producing or publishing this document. PRESS RELEASE PROCEDURES The non-sponsored content contained herein has been prepared by a writer (the "Author") and is fact checked and reviewed by a third-party research service company (the "Reviewer") represented by a chartered financial analyst, for further information on analyst credentials, please email [email protected] . Vikas Agrawal, a CFA® charter holder (the "Sponsor"), provides necessary guidance in preparing the document templates. The Reviewer has reviewed and revised the content, as necessary, based on publicly available information which is believed to be reliable. Content is researched, written, and reviewed on a reasonable-effort basis. The Reviewer has not performed any independent investigations or forensic audits to validate the information herein. The Reviewer has only independently reviewed the information provided by the Author per the procedures outlined by TNS. TNS is not entitled to veto or interfere in the application of such procedures by the third-party research service company to the articles, documents, or reports. Unless otherwise noted, any content outside of this document has no association with the Author or the Reviewer in any way. NO WARRANTY TNS, the Author, and the Reviewer are not responsible for any error which may be occasioned at the time of printing of this document or any error, mistake, or shortcoming. No liability is accepted whatsoever for any direct, indirect, or consequential loss arising from the use of this document. TNS, the Author, and the Reviewer expressly disclaim any fiduciary responsibility or liability for any consequences, financial or otherwise arising from any reliance placed on the information in this document. Additionally, TNS, the Author, and the Reviewer do not (1) guarantee the accuracy, timeliness, completeness, or correct sequencing of the information, or (2) warrant any results from use of the information. The included information is subject to change without notice. NOT AN OFFERING This document is not intended as an offering, recommendation, or a solicitation of an offer to buy or sell the securities mentioned or discussed, and is to be used for informational purposes only. Please read all associated disclosures and disclaimers in full before investing. Neither TNS nor any party affiliated with us is a registered investment adviser or broker-dealer with any agency or in any jurisdiction whatsoever. To download our report(s), read our disclosures, or for more information, visit http://www.tradersnewssource.com . For any questions, inquiries, or comments reach out to us directly. If you're a company we are covering and wish to no longer be featured on our coverage list, contact us via email at: [email protected] CFA® and Chartered Financial Analyst® are registered trademarks owned by CFA Institute. CONTACT: [email protected] SOURCE: Traders News Source [Social Media Buzz] $4130.00 at 03:15 UTC [24h Range: $3964.96 - $4368.00 Volume: 17020 BTC] \|\| 1 #BTC (#Bitcoin) quotes: $4154.53/$4160.00 #Bitstamp $4180.01/$4192.68 #Kraken ⇢$20.01/$38.15 $4152.54/$4195.88 #Coinbase ⇢$-7.46/$41.35 \|\| Cotação Bitcoin: 19/08/2017 01:08:07 Compra: R$ 13.901,00 (0.0%) Venda: R$ 14.020,22 (0.0%) #Bitcoin #Cotacao #Brasil #Trade #Beta \|\| Cotizaciones al 19/08/2017 01:00 PM Bitcoin (BTC): 22.362.709 Ethereum (ETH): 1.628.674 Litecoin (LTC): 251.665 BTC Cash (BCH): 4.975.271 \|\| One Bitc...	4087.66, 4001.74, 4100.52, 4151.52, 4334.68, 4371.60, 4352.40, 4382.88, 4382.66, 4579.02
Given the historical Bitcoin prices from the last 90 days, predict the next 10 daily closing prices. The historical prices are: 1734.45, 1839.09, 1888.65, 1987.71, 2084.73, 2041.20, 2173.40, 2320.42, 2443.64, 2304.98, 2202.42, 2038.87, 2155.80, 2255.61, 2175.47, 2286.41, 2407.88, 2488.55, 2515.35, 2511.81, 2686.81, 2863.20, 2732.16, 2805.62, 2823.81, 2947.71, 2958.11, 2659.63, 2717.02, 2506.37, 2464.58, 2518.56, 2655.88, 2548.29, 2589.60, 2721.79, 2689.10, 2705.41, 2744.91, 2608.72, 2589.41, 2478.45, 2552.45, 2574.79, 2539.32, 2480.84, 2434.55, 2506.47, 2564.06, 2601.64, 2601.99, 2608.56, 2518.66, 2571.34, 2518.44, 2372.56, 2337.79, 2398.84, 2357.90, 2233.34, 1998.86, 1929.82, 2228.41, 2318.88, 2273.43, 2817.60, 2667.76, 2810.12, 2730.40, 2754.86, 2576.48, 2529.45, 2671.78, 2809.01, 2726.45, 2757.18, 2875.34, 2718.26, 2710.67, 2804.73, 2895.89, 3252.91, 3213.94, 3378.94, 3419.94, 3342.47, 3381.28, 3650.62, 3884.71, 4073.26.	[Bitcoin Technical Analysis for 2017-08-13] Volume: 3159089920, RSI (14-day): 78.99, 50-day EMA: 2843.23, 200-day EMA: 2020.87 [Wider Market Context] None available. [Recent News (last 7 days)] Dan Loeb ditched all his shares of Snap: (Daniel Loeb, founder and CEO of Third Point CapitalReuters/ Steve Marcus) Dan Loeb’s Third Point hedge fund, which manages roughly $17.5 billion in assets, has sold its entire stake inSnap Inc., according toregulatory filingsreleased late Friday. Third Point hadoriginally purchased2.25 million shares of Snapchat's parent company during the first quarter of 2017, filings show. Despite Snap's steep losses, leaving the company's shares down 30% since its IPO in March, Third Point managed to earn a 4.6% return on its Offshore Fund, bringing its total returns for the year to 10.7%,Reuters reported. In addition to Snap, Third Point also sold its shares of Salesforce and Qualcomm. Salesforce stock is up roughly 29% since the beginning of the year, while Qualcomm is relatively flat for the same period. Snap stock closed at $11.75 Friday in New York, after taking a major hit on Thursday after adisappointing earnings statementin which the company announcedan adjusted loss of $0.16 a share. (Markets Insider) NOW WATCH:Wells Fargo Funds equity chief: Companies were being rendered obsolete long before Amazon emerged More From Business Insider • Billionaire hedge fund manager Daniel Loeb made a big bet on Alibaba • Bitcoin's explosive gains could spell good news for stocks • Bitcoin's meteoric rise is costing some investors billions \|\| Dan Loeb ditched all his shares of Snap: Dan Loeb (Daniel Loeb, founder and CEO of Third Point CapitalReuters/ Steve Marcus) Dan Loeb’s Third Point hedge fund, which manages roughly $17.5 billion in assets, has sold its entire stake in Snap Inc ., according to regulatory filings released late Friday. Third Point had originally purchased 2.25 million shares of Snapchat's parent company during the first quarter of 2017, filings show. Despite Snap's steep losses, leaving the company's shares down 30% since its IPO in March, Third Point managed to earn a 4.6% return on its Offshore Fund, bringing its total returns for the year to 10.7%, Reuters reported. In addition to Snap, Third Point also sold its shares of Salesforce and Qualcomm. Salesforce stock is up roughly 29% since the beginning of the year, while Qualcomm is relatively flat for the same period. Snap stock closed at $11.75 Friday in New York, after taking a major hit on Thursday after a disappointing earnings statement in which the company announced an adjusted loss of $0.16 a share. Screen Shot 2017 08 11 at 5.30.23 PM (Markets Insider) NOW WATCH: Wells Fargo Funds equity chief: Companies were being rendered obsolete long before Amazon emerged More From Business Insider Billionaire hedge fund manager Daniel Loeb made a big bet on Alibaba Bitcoin's explosive gains could spell good news for stocks Bitcoin's meteoric rise is costing some investors billions \|\| Samsung's Bixby voice assistant is ambitious, powerful, and half-baked: Can you imagine what it must have been like at Samsung when they came up with Bixby? Manager: “OK, people. Apple (AAPL) has Siri, Google (GOOG,GOOGL) has its Assistant, Microsoft (MSFT) has Cortana. Amazon (AMZN) has that Alexa thing. We’re the only major player without a voice assistant!” Underling 1: “But since our phones run Android, they already have Google Assistant built in. It wouldn’t make sense to create a second voice assistant on the same phone, would it?” Underling 2: “Like that’s ever stopped us before? Samsung Reminders? Samsung Pay? Samsung Notes? HELLO?” Manager: “Sheila’s right. I’m sick of being called a copycat company! We need to leapfrog the others! Our assistant won’t just tell you the weather and set alarms—ours will perform complete, multistep tasks!” Second-in-command: “Cool! Yes! Like, ‘Send the last picture I took to my wife!’ Like ‘Take a selfie, apply the black-and-white filter, and post it to Instagram!'” Manager: “And what’s more, we’ll someday expand this technology across the entire Samsung archipelago! It’ll be in our fridges! And washer-dryers! And cameras!” Underling 1: “Um, but we have no experience with writing voice assistants. No database of voice samples. No voice-analysis experts.” Manager: “Hey now, Ms. Doubty-Face. Let’s not stomp on my dreams. We’re going to write this thing, and what’s more, we’re going to have it done in time for the launch of our flagship Galaxy S8 phone!” Underlings, together: “WHAAAAA—?” You get the idea. From the beginning, Bixby (as the new voice assistant is bizarrely named) has been overly ambitious and underly polished. Itwasn’tready in time for the Galaxy S8’s American launch. The phone comes with a dedicated Bixby button on the left edge, but for four months, it did absolutely nothing. (And when people tried to write hacks that assigned that button to dosomething,Samsung released a patchthat blocked them.) Well, Bixby is finally here. That Galaxy S8 button finally does something. Unfortunately, it’s not often what you want it to do. You can press the Bixby button as you issue your command, or you can speak hands-free by preceding each command with “Hi Bixby,” much as you can say “Hey Siri” or “OK Google.” The training setup requires you to utter eight sentences, like “Hi Bixby,” “Hi Bixby, turn on Bluetooth,” “Health is always important,” and so on. Now, you might assume that this unusually long training session will guarantee unusually good speech recognition. You’d be wrong. The best way to show you how hit-or-miss Bixby’s performance is? Maybe it’s just to show you what you’d get if you could try it yourself. Green boldmeans, “Bixby worked!”Blue italicmeans, “Bixby FAIL!” (The colors may not appear in some browsers.) Let’s start with the everyday commands, which your Apple or Android phone can already do: • Set an alarm for 7:30 a.m. • Open Settings. • Read my new messages. • What’s the weather?(Bixby: “Hmm, I can’t determine your current location.” The hilarious part is that the phone knows perfectly well my current location—which it displays just above the message saying that it doesn’t!) • How many new emails do I have?(Bixby: “No problem. I’ve filtered the emails.” What?) • Send an email to Nicki about tomorrow’s lunch.(Bixby creates an outgoing email message, sure enough—but addresses it to “Nicki about tomorrow’s lunch.) • Create a new note called Rainy Day Activities.(It works—but the note is saved on the phone only, in a dedicated Samsung Notes app. The note doesn’t appear on the web or on any other machines, as it would if you used Siri or used Google Assistant.) • Add margarine to my Grocery List note. • Turn on “Do Not Disturb.” • Create an appointment for Friday at noon called “Fishing with Bob.”(Creates the appointment, but the title is only “Fishing.” Bob’s nowhere to be found.) • How many pictures did I take today?(Bixby: “OK! Let’s set up Samsung Health.” What the—??) • Tell me a joke.(Well, half credit. Bixby tells you a joke, but they’re terrible. “Who is Samsung’s favorite supehero? Super AMOLED!”) • Is a wombat a mammal?(Bixby hears, “Is a wombat a memo?” no matter how clearly, slowly, and repeatedly I asked. I already realize that a wombat is not a memo.) • When is the next Indians game?(Bixby displays only a link to the Major League Baseball schedule site, rather than showing the answer, as Siri does.) • Call Sarah. • Send a text to mom saying, “See you at Thanksgiving.” • What is Apple’s stock price?(Bixby displays a paragraph about Apple from Wikipedia—no mention of its stock price.) • What’s a 17% tip on $42?(Bixby displays links to online tip calculators. Siri and Google display the answer.) Bixby is especially pathetic when it comes to navigation. • What pizza places are nearby?(Bixby: “Looks like there’s a connection problem.”) • Find me an Italian restaurant nearby.(Bixby opens Google Maps—promising!—but then stops, saying, “It looks like we experienced a slight hiccup.”) • Give me directions to JFK airport.(Bixby: “Which one?”) • Give me directions to the Empire State Building.(The “slight hiccup” error message appears after 10 seconds.) In all cases, Bixby is very, very slow—plenty ofvideos onlineshow how badly it lags behind Siri or Google Assistant. It’s also fairly confusing. Most response bubbles include the baffling phrase, “You’re in native context.” And every so often, you’re awarded Bixby XP points for using Bixby. Samsung suggests that if you accumulate enough, you’ll be able to earn valuable prizes. OK, but if you have to bribe your customers to use your app… Bixby may be super-lame at performing the usual voice-assistant commands. But to its credit, it can control your phone in some very literal ways that most other assistants can’t. For example: • Turn on the flashlight.(How great is that!?) • Take a selfie.(Bixby open the Camera app, turns on the front camera, and displays a three-second countdown. It’s terrific.) • Scroll down. • Go to the Home screen. • Open the Quick Settings panel. • Open Display in Settings. • Tap “blue light filter.” • Open the app drawer.(Bixby hears the command correctly, but displays the app store, and opens the keyboard for searching.) • Show me my apps?(Bixby asks, “Which one?” and lists three of them.) • Open the app tray.(Bixby invites you to change the grid-spacing settings for your apps.) Yes, of course, it’s always faster to use your finger; Bixby does everything slowly. But sometimes, your hands are full, or your brain is full and you can’t remember how to get to something. Where Bixby is supposed to shine, of course, is performing more elaborate commands that would leave its rivals in the dust. • Set an alarm called “Milk the cows” at 4:30 a.m., Monday, Wednesday, and Friday. • Crop my most recent photo. • Text my latest photo to mom.(Man, this one is so useful and reliable, it’s almost enough to make me forgive the rest of Bixby’s brokenness. Almost.) • Find the pictures I took today and put them into a folder called Summer Break.(Amazing!) • Open Voice Recorder and start recording. • Open Instagram and post my most recent photo, with the caption ‘Rainy Monday.’” • Open Facebook Messenger and send the message, “I’m running 20 minutes behind” to Christine.(If you have only one Christine in your Facebook contacts, opens the message-composition screen, but doesn’t fill in the message you specified.) • Open Facebook and post my latest photo.(Bixby gives that “slight hiccup” message.) Bixby works only in apps that have been specially adapted to work with it. That includes 15 of the phone’s built-in apps—Gallery, Contacts, Phone, Settings, Messages, Camera, etc.— plus about 20 ‘Bixby Labs’ apps, which presumably means they’re still under development. They include Facebook (FB), Twitter (TWTR), WhatsApp, Gmail, Google Play Store, and so on. It’s incredible that a company as global and deep-pocketed as Samsung would release software as half-baked as Bixby. True, the company has a long history of writing apps that only kind of work (cough S Translator cough). But something as important and essential to the phone—and to the company’s future—as Bixby? Come on. Bixby will improve, of course. And some of the things that do work are so compelling and useful, Apple and Google should be ashamed not to have thought of them. “Turn on the flashlight” and “Text my most recent photo to Robin” are particularly brilliant. For now, though, be grateful that your Samsung phone also has the “OK Google” assistant on it. You can use that for all the everyday queries that Bixby botches, and use Bixby for the few things it’s really good at. You just have to learn which assistant to trigger when. As for the name Bixby? No, it’s not named afterBill Bixby, star of the 1978 “The Incredible Hulk” TV show; it’s named for a bridge in California. That turns out to be apropos, because surely not even the managers and underlings at Samsung believe that Bixby is a finished product. If anything, it’s only a temporary bridge—to, we hope, something much better. More from David Pogue: Is through-the-air charging a hoax? Electrify your existing bike in 2 minutes with these ingenious wheels Marty Cooper, inventor of the cellphone: The next step is implantables The David Pogue Review: Windows 10 Creators Update Now I get it: Bitcoin David Pogue’s search for the world’s best air-travel app The little-known iPhone feature that lets blind people see with their fingers David Pogue, tech columnist for Yahoo Finance, welcomes nontoxic comments in the comments section below. On the web, he’sdavidpogue.com. On Twitter, he’s@pogue. On email, he’s [email protected]. You canread all his articles here, or you can sign up toget his columns by email. \|\| Samsung's Bixby voice assistant is ambitious, powerful, and half-baked: Can you imagine what it must have been like at Samsung when they came up with Bixby? Manager: “OK, people. Apple ( AAPL ) has Siri, Google ( GOOG , GOOGL ) has its Assistant, Microsoft ( MSFT ) has Cortana. Amazon ( AMZN ) has that Alexa thing. We’re the only major player without a voice assistant!” Underling 1: “But since our phones run Android, they already have Google Assistant built in. It wouldn’t make sense to create a second voice assistant on the same phone, would it?” Underling 2: “Like that’s ever stopped us before? Samsung Reminders? Samsung Pay? Samsung Notes? HELLO?” Manager: “Sheila’s right. I’m sick of being called a copycat company! We need to leapfrog the others! Our assistant won’t just tell you the weather and set alarms—ours will perform complete, multistep tasks!” Second-in-command: “Cool! Yes! Like, ‘Send the last picture I took to my wife!’ Like ‘Take a selfie, apply the black-and-white filter, and post it to Instagram!'” Manager: “And what’s more, we’ll someday expand this technology across the entire Samsung archipelago! It’ll be in our fridges! And washer-dryers! And cameras!” Underling 1: “Um, but we have no experience with writing voice assistants. No database of voice samples. No voice-analysis experts.” Manager: “Hey now, Ms. Doubty-Face. Let’s not stomp on my dreams. We’re going to write this thing, and what’s more, we’re going to have it done in time for the launch of our flagship Galaxy S8 phone!” Underlings, together: “WHAAAAA—?” You get the idea. From the beginning, Bixby (as the new voice assistant is bizarrely named) has been overly ambitious and underly polished. It wasn’t ready in time for the Galaxy S8’s American launch. The phone comes with a dedicated Bixby button on the left edge, but for four months, it did absolutely nothing. (And when people tried to write hacks that assigned that button to do something, Samsung released a patch that blocked them.) Well, Bixby is finally here. That Galaxy S8 button finally does something. Unfortunately, it’s not often what you want it to do. Story continues After months of delay, Bixby is here. How Bixby works You can press the Bixby button as you issue your command, or you can speak hands-free by preceding each command with “Hi Bixby,” much as you can say “Hey Siri” or “OK Google.” The training setup requires you to utter eight sentences, like “Hi Bixby,” “Hi Bixby, turn on Bluetooth,” “Health is always important,” and so on. Now, you might assume that this unusually long training session will guarantee unusually good speech recognition. You’d be wrong. Standard commands The best way to show you how hit-or-miss Bixby’s performance is? Maybe it’s just to show you what you’d get if you could try it yourself. Green bold means, “Bixby worked!” Blue italic means, “Bixby FAIL!” (The colors may not appear in some browsers.) Let’s start with the everyday commands, which your Apple or Android phone can already do: Set an alarm for 7:30 a.m. Open Settings. Read my new messages. What’s the weather? (Bixby: “Hmm, I can’t determine your current location.” The hilarious part is that the phone knows perfectly well my current location—which it displays just above the message saying that it doesn’t!) You can’t determine the location? How about looking HALF AN INCH HIGHER ON THE SCREEN? How many new emails do I have? (Bixby: “No problem. I’ve filtered the emails.” What?) Send an email to Nicki about tomorrow’s lunch. (Bixby creates an outgoing email message, sure enough—but addresses it to “Nicki about tomorrow’s lunch.) Create a new note called Rainy Day Activities. (It works—but the note is saved on the phone only, in a dedicated Samsung Notes app. The note doesn’t appear on the web or on any other machines, as it would if you used Siri or used Google Assistant.) A dd margarine to my Grocery List note. Turn on “Do Not Disturb .” Create an appointment for Friday at noon called “Fishing with Bob.” (Creates the appointment, but the title is only “Fishing.” Bob’s nowhere to be found.) How many pictures did I take today? (Bixby: “OK! Let’s set up Samsung Health.” What the—??) Tell me a joke. (Well, half credit. Bixby tells you a joke, but they’re terrible. “Who is Samsung’s favorite supehero? Super AMOLED!”) Is a wombat a mammal? (Bixby hears, “Is a wombat a memo?” no matter how clearly, slowly, and repeatedly I asked. I already realize that a wombat is not a memo.) When is the next Indians game? ( Bixby displays only a link to the Major League Baseball schedule site, rather than showing the answer, as Siri does.) Call Sarah. Send a text to mom saying, “See you at Thanksgiving.” What is Apple’s stock price? (Bixby displays a paragraph about Apple from Wikipedia—no mention of its stock price.) What’s a 17% tip on $42? (Bixby displays links to online tip calculators. Siri and Google display the answer.) Bixby is especially pathetic when it comes to navigation. What pizza places are nearby? (Bixby: “Looks like there’s a connection problem.”) Find me an Italian restaurant nearby. (Bixby opens Google Maps—promising!—but then stops, saying, “It looks like we experienced a slight hiccup.”) Give me directions to JFK airport . (Bixby: “Which one?”) Give me directions to the Empire State Building . (The “slight hiccup” error message appears after 10 seconds.) In all cases, Bixby is very, very slow—plenty of videos online show how badly it lags behind Siri or Google Assistant. It’s also fairly confusing. Most response bubbles include the baffling phrase, “You’re in native context.” And every so often, you’re awarded Bixby XP points for using Bixby. Samsung suggests that if you accumulate enough, you’ll be able to earn valuable prizes. OK, but if you have to bribe your customers to use your app… Phone-control commands Bixby may be super-lame at performing the usual voice-assistant commands. But to its credit, it can control your phone in some very literal ways that most other assistants can’t. For example: Turn on the flashlight . (How great is that!? ) Take a selfie . (Bixby open the Camera app, turns on the front camera, and displays a three-second countdown. It’s terrific.) Scroll down . Go to the Home screen. Open the Quick Settings panel. Open Display in Settings. Tap “blue light filter.” Open the app drawer . (Bixby hears the command correctly, but displays the app store, and opens the keyboard for searching.) Show me my apps? (Bixby asks, “Which one?” and lists three of them.) Open the app tray . (Bixby invites you to change the grid-spacing settings for your apps.) Yes, of course, it’s always faster to use your finger; Bixby does everything slowly. But sometimes, your hands are full, or your brain is full and you can’t remember how to get to something. Compound commands Where Bixby is supposed to shine, of course, is performing more elaborate commands that would leave its rivals in the dust. Set an alarm called “Milk the cows” at 4:30 a.m., Monday, Wednesday, and Friday. Crop my most recent photo. Text my latest photo to mom . (Man, this one is so useful and reliable, it’s almost enough to make me forgive the rest of Bixby’s brokenness. Almost.) Find the pictures I took today and put them into a folder called Summer Break. (Amazing!) Open Voice Recorder and start recording. Open Instagram and post my most recent photo, with the caption ‘Rainy Monday.’” Open Facebook Messenger and send the message, “I’m running 20 minutes behind” to Christine . (If you have only one Christine in your Facebook contacts, opens the message-composition screen, but doesn’t fill in the message you specified.) Open Facebook and post my latest photo . (Bixby gives that “slight hiccup” message.) Bixby works only in apps that have been specially adapted to work with it. That includes 15 of the phone’s built-in apps—Gallery, Contacts, Phone, Settings, Messages, Camera, etc.— plus about 20 ‘Bixby Labs’ apps, which presumably means they’re still under development. They include Facebook ( FB ), Twitter ( TWTR ), WhatsApp, Gmail, Google Play Store, and so on. Bixby not as billed It’s incredible that a company as global and deep-pocketed as Samsung would release software as half-baked as Bixby. True, the company has a long history of writing apps that only kind of work (cough S Translator cough). But something as important and essential to the phone—and to the company’s future—as Bixby? Come on. Bixby will improve, of course. And some of the things that do work are so compelling and useful, Apple and Google should be ashamed not to have thought of them. “Turn on the flashlight” and “Text my most recent photo to Robin” are particularly brilliant. For now, though, be grateful that your Samsung phone also has the “OK Google” assistant on it. You can use that for all the everyday queries that Bixby botches, and use Bixby for the few things it’s really good at. You just have to learn which assistant to trigger when. As for the name Bixby? No, it’s not named after Bill Bixby , star of the 1978 “The Incredible Hulk” TV show; it’s named for a bridge in California. That turns out to be apropos, because surely not even the managers and underlings at Samsung believe that Bixby is a finished product. If anything, it’s only a temporary bridge—to, we hope, something much better. More from David Pogue: Is through-the-air charging a hoax? Electrify your existing bike in 2 minutes with these ingenious wheels Marty Cooper, inventor of the cellphone: The next step is implantables The David Pogue Review: Windows 10 Creators Update Now I get it: Bitcoin David Pogue’s search for the world’s best air-travel app The little-known iPhone feature that lets blind people see with their fingers David Pogue, tech columnist for Yahoo Finance, welcomes nontoxic comments in the comments section below. On the web, he’s davidpogue.com . On Twitter, he’s @pogue . On email, he’s [email protected]. You can read all his articles here , or you can sign up to get his columns by email . \|\| Most banks expect legal bills to fall — except Wells Fargo: A Wells Fargo bank sign is pictured in downtown Los Angeles, California, U.S. August 10, 2017. REUTERS/Mike Blake Wells Fargo ( WFC ) has had a rocky 11 months. First, news broke that the third largest bank by assets had been creating millions of accounts without customers’ permission , resulting in $185 million in fines. But that’s not all. The bank has been hounded by more scandals involving mortgages and overdraft charges . Just this month, Sen. Jerry Moran (R-Kan.), began looking into whether the bank duped borrowers into buying expensive car insurance . All of this has opened the San Francisco-based bank up to some serious litigation risks, and the bank has continuously had to update how much it may have to pony up to square things with consumers it has wronged. There are many legal balls in the air, and many of them are class-actions. A class-action suit regarding the fake accounts is in the process of being settled; a judge granted preliminary approval to a $142 million settlement of that case in July. A proposed class-action accusing the bank of “ racketeering violations and fraud” was filed recently after the bank admitted to providing unnecessary auto insurance. Multiple lawsuits are ongoing in regards to unauthorized changes to mortgages. And on Friday, Wells Fargo was hit with a proposed class-action lawsuit alleging the bank’s merchant services overcharged for credit-card processing, thus ripping off small businesses. According to Moody’s, Wells Fargo’s revisions of possible losses from litigation come at a time when “most other banks’ reasonably possible litigation losses are declining.” Most banks’ legal bills have fallen. But not for Wells Fargo. (Moody’s) Wells Fargo is doing very well financially, posting reasonably strong earnings , so the effects of these potential losses may not be a particularly material factor for the health of the company. But compared to other banks, Wells Fargo’s potential legal liabilities in the past two years are stark as the chart from Moody’s shows above. While Wells Fargo’s upper bound of possible legal losses shot up 150%, they went down between 25% and 50% for Bank of America ( BAC ), JPMorgan Chase ( JPM ), and Citigroup ( C ). Banks have been paying for the way they made, marketed and sold residential mortgage-backed securities ahead of the financial crisis. That litigation is finally starting to wind down. Story continues Because of all this legal exposure, it’s not a surprise that the bank is looking closely at the CFPB’s new arbitration rule that bans banks from forcing arbitration instead of allowing consumers to band together in a class-action suit, which is more costly for the companies. The rule has been challenged by Congress and the House voted to repeal it. Ethan Wolff-Mann is a writer at Yahoo Finance focusing on consumer issues, tech, and personal finance. Follow him on Twitter @ewolffmann . Got a tip? Send it to [email protected] . Read More: What Bitcoin needs to do to become real currency Trump weighs slashing one of the most popular tax deductions Big banks are going after Venmo and Venmo is winning 73% of Android users are less likely to switch to iPhone due to headphone jack ‘Market FOMO’ has millennials putting cash into the stock market Sometimes fake holidays like ‘National Ice Cream Day’ actually work A robot lawyer can fight your parking tickets and much more Consumer watchdog is making it easier for consumers to sue banks How ringless spam voicemails became a partisan issue \|\| Most banks expect legal bills to fall — except Wells Fargo: Wells Fargo (WFC) has had a rocky 11 months. First, news broke that the third largest bank by assets had beencreating millions of accounts without customers’ permission, resulting in $185 million in fines. But that’s not all. The bank has been hounded by more scandals involvingmortgagesandoverdraft charges. Just this month, Sen. Jerry Moran (R-Kan.), began looking into whether the bank duped borrowersinto buying expensive car insurance. All of this has opened the San Francisco-based bank up to some serious litigation risks, and the bank has continuously had to update how much it may have to pony up to square things with consumers it has wronged. There are many legal balls in the air, and many of them are class-actions. A class-action suit regarding the fake accounts is in the process of being settled; a judge granted preliminary approval to a$142 millionsettlement of that case in July. A proposed class-actionaccusing the bank of “racketeering violations and fraud”was filed recently after the bank admitted to providing unnecessary auto insurance.Multiple lawsuitsare ongoing in regards to unauthorized changes to mortgages. And on Friday, Wells Fargo was hit witha proposed class-action lawsuitalleging the bank’s merchant services overcharged for credit-card processing, thus ripping off small businesses. According to Moody’s, Wells Fargo’s revisions of possible losses from litigation come at a time when “most other banks’ reasonably possible litigation losses are declining.” Wells Fargo is doing very well financially, postingreasonably strong earnings, so the effects of these potential losses may not be a particularly material factor for the health of the company. But compared to other banks, Wells Fargo’s potential legal liabilities in the past two years are stark as the chart from Moody’s shows above. While Wells Fargo’s upper bound of possible legal losses shot up 150%, they went down between 25% and 50% for Bank of America (BAC), JPMorgan Chase (JPM), and Citigroup (C).Banks have been paying for the way they made, marketed and sold residential mortgage-backed securities ahead of the financial crisis. That litigation is finally starting to wind down. Because of all this legal exposure, it’s not a surprise that the bankis looking closelyat the CFPB’s new arbitration rule that bans banks from forcing arbitration instead of allowing consumers to band together in a class-action suit, which is more costly for the companies. The rule has been challenged by Congress and the House voted to repeal it. Ethan Wolff-Mannis a writer at Yahoo Finance focusing on consumer issues, tech, and personal finance. Follow him on Twitter@ewolffmann. Got a tip? Send it [email protected]. Read More: What Bitcoin needs to do to become real currency Trump weighs slashing one of the most popular tax deductions Big banks are going after Venmo and Venmo is winning 73% of Android users are less likely to switch to iPhone due to headphone jack ‘Market FOMO’ has millennials putting cash into the stock market Sometimes fake holidays like ‘National Ice Cream Day’ actually work A robot lawyer can fight your parking tickets and much more Consumer watchdog is making it easier for consumers to sue banks How ringless spam voicemails became a partisan issue \|\| Stocks clawing back losses after three-day plunge: Stocks (^DJI,^GSPC,^IXIC) are slightly up at the midday mark, having given up some earlier gains. The tech (XLK) and health care (XLV) sectors are up the most, while real estate (XLRE) and energy (XLE) are the most in the red.Jonathan Corpina of Meridian Equity Partnersjoins us live from the floor of the New York Stock Exchange. To discuss the other big stories of the day, Alexis Christoforous is joined by Yahoo Finance’s Myles Udland and Jen Rogers. • How to play defense in the current market and where to buy • Amazon promises more disruption in food space • Amazon wants to dethrone Ticketmaster • Buying a TV: How NOT to get ripped off • HBO’s hackers demanding $250K in Bitcoin \|\| Stocks clawing back losses after three-day plunge: Stocks ( ^DJI , ^GSPC , ^IXIC ) are slightly up at the midday mark, having given up some earlier gains. The tech ( XLK ) and health care ( XLV ) sectors are up the most, while real estate ( XLRE ) and energy ( XLE ) are the most in the red. Jonathan Corpina of Meridian Equity Partners joins us live from the floor of the New York Stock Exchange. To discuss the other big stories of the day, Alexis Christoforous is joined by Yahoo Finance’s Myles Udland and Jen Rogers. Today, on Midday Movers we discuss: How to play defense in the current market and where to buy Amazon promises more disruption in food space Amazon wants to dethrone Ticketmaster Buying a TV: How NOT to get ripped off HBO’s hackers demanding $250K in Bitcoin \|\| Bitcoin Services Inc. Launches www.bitcoinservicescorp.com and Provides Corporate Update: DENVER, CO / ACCESSWIRE / August 10, 2017 / Bitcoin Services Inc. (OTC PINK: BTSC) announced today that it launched a new corporate website www.bitcoinservicescorp.com . The company is also pleased to announce their earnings on August 14, 2017. Bitcoin Services Inc began the mining of Dash in the 1 st quarter of 17. Dash is Digital Cash You Can Spend Anywhere. Dash can be used to make instant, private payments online or in-store using our secure open-source platform hosted by thousands of users around the world. In addition, Bitcoin Services Inc. has created a new subsidiary Crypto Capital Corp ( www.cryptocapitalcorp.com ) that will develop a new Crypto currency wallet. The wallet will let users safely store multiple digital currencies in one wallet. Bitcoin Services Inc. would also like to congratulate all Bitcoin users for reaching a historic all-time high on August of 2017. About Bitcoin Services Inc.: Our business operations are Internet based to the consumer and consist of two separate streams, as follows: (1) bitcoin mining, and (2) blockchain software development. The principal products and services are the mining of bitcoins, and the development and sale of blockchain software. The market for these services and products is worldwide, and sold and marketed on the Internet. Safe Harbor Statement: This release contains forward-looking statements within the meaning of Section 27a of the Securities Act of 1933, as amended and section 21e of the Securities and Exchange Act of 1934, as amended. Those statements include the intent, belief, or current expectations of the company and its management team. Prospective investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, and that actual results may differ materially from those projected in the forward-looking statements as a result of various factors. Accomplishing the strategy described herein is significantly dependent upon numerous factors, many that are not in management's control. Some of these factors include the ability of the company to raise sufficient capital, attract qualified management, attract new customers, and effectively compete against similar companies. Story continues CONTACT: [email protected] SOURCE: Bitcoin Services Inc. \|\| Bitcoin Services Inc. Launches www.bitcoinservicescorp.com and Provides Corporate Update: DENVER, CO / ACCESSWIRE / August 10, 2017 /Bitcoin Services Inc. (OTC PINK: BTSC) announced today that it launched a new corporate websitewww.bitcoinservicescorp.com. The company is also pleased to announce their earnings on August 14, 2017. Bitcoin Services Inc began the mining of Dash in the 1stquarter of 17. Dash is Digital Cash You Can Spend Anywhere. Dash can be used to make instant, private payments online or in-store using our secure open-source platform hosted by thousands of users around the world. In addition, Bitcoin Services Inc. has created a new subsidiary Crypto Capital Corp (www.cryptocapitalcorp.com) that will develop a new Crypto currency wallet. The wallet will let users safely store multiple digital currencies in one wallet. Bitcoin Services Inc. would also like to congratulate all Bitcoin users for reaching a historic all-time high on August of 2017. About Bitcoin Services Inc.: Our business operations are Internet based to the consumer and consist of two separate streams, as follows: (1) bitcoin mining, and (2) blockchain software development. The principal products and services are the mining of bitcoins, and the development and sale of blockchain software. The market for these services and products is worldwide, and sold and marketed on the Internet. Safe Harbor Statement: This release contains forward-looking statements within the meaning of Section 27a of the Securities Act of 1933, as amended and section 21e of the Securities and Exchange Act of 1934, as amended. Those statements include the intent, belief, or current expectations of the company and its management team. Prospective investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, and that actual results may differ materially from those projected in the forward-looking statements as a result of various factors. Accomplishing the strategy described herein is significantly dependent upon numerous factors, many that are not in management's control. Some of these factors include the ability of the company to raise sufficient capital, attract qualified management, attract new customers, and effectively compete against similar companies. CONTACT: [email protected] SOURCE:Bitcoin Services Inc. \|\| Bitcoin Services Inc. Launches www.bitcoinservicescorp.com and Provides Corporate Update: DENVER, CO / ACCESSWIRE / August 10, 2017 /Bitcoin Services Inc. (OTC PINK: BTSC) announced today that it launched a new corporate websitewww.bitcoinservicescorp.com. The company is also pleased to announce their earnings on August 14, 2017. Bitcoin Services Inc began the mining of Dash in the 1stquarter of 17. Dash is Digital Cash You Can Spend Anywhere. Dash can be used to make instant, private payments online or in-store using our secure open-source platform hosted by thousands of users around the world. In addition, Bitcoin Services Inc. has created a new subsidiary Crypto Capital Corp (www.cryptocapitalcorp.com) that will develop a new Crypto currency wallet. The wallet will let users safely store multiple digital currencies in one wallet. Bitcoin Services Inc. would also like to congratulate all Bitcoin users for reaching a historic all-time high on August of 2017. About Bitcoin Services Inc.: Our business operations are Internet based to the consumer and consist of two separate streams, as follows: (1) bitcoin mining, and (2) blockchain software development. The principal products and services are the mining of bitcoins, and the development and sale of blockchain software. The market for these services and products is worldwide, and sold and marketed on the Internet. Safe Harbor Statement: This release contains forward-looking statements within the meaning of Section 27a of the Securities Act of 1933, as amended and section 21e of the Securities and Exchange Act of 1934, as amended. Those statements include the intent, belief, or current expectations of the company and its management team. Prospective investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, and that actual results may differ materially from those projected in the forward-looking statements as a result of various factors. Accomplishing the strategy described herein is significantly dependent upon numerous factors, many that are not in management's control. Some of these factors include the ability of the company to raise sufficient capital, attract qualified management, attract new customers, and effectively compete against similar companies. CONTACT: [email protected] SOURCE:Bitcoin Services Inc. \|\| The potential costs and benefits of unifying North and South Korea: Kim Jong-Un, North Korea’s leader, has been getting more aggressive with missile tests and rhetoric recently. (Reuters) Tensions have escalated between North Korea and the U.S. as Kim Jong Un and President Donald Trump continue to spar following new sanctions imposed by the U.N. However, world financial markets have so far been only mildly affected by the news given the historical default to diplomacy. But what if war does break out? A military conflict would clearly mean significant problems in the near-term, especially when you consider that nuclear weapons could be involved. The story regarding the long term is much less certain. According to recent analysis from Capital Economics, it is possible that the fall of North Korean supreme leader Kim Jong Un could be a net positive for what may become a unified Korean economy, depending entirely on how grave the means are to accomplish this end. Their estimate for the cost of unifying the two Koreas: $1 trillion. Why South Korea would want to unify with North Korea The best-case scenario, as Yahoo Finance has written before , is something akin to the reunification of Germany in 1990. South Korea would likely benefit economically in the long run, according to a report from Capital Economics . Like Japan and many European countries, South Korea has a population that is fairly old with the median age 41.2 . North Korea, however, is a much younger country with the median age of 33. In a peaceful transition, this would breathe youth back into the workforce and improve the South’s demographic outlook. Youth isn’t the North’s only natural resource — it’s home to the Korean peninsula’s greatest wealth of untouched raw materials. For South Korea, access would push down the need to import and provide it with cheaper building blocks for its strong manufacturing industry. Besides the utilization of North Korea’s potential, a unified Korea could benefit significantly from lower military expenses, which cost both countries dearly. That money would be freed up for other projects. Uncertainty is very high Everything depends on how bad a military conflict would be. Analysts expect it to be short but extremely brutal . The South’s largest city, Seoul, is just 35 miles from the border, and massive losses of life and infrastructure have the potential to cripple both countries to a degree never seen before. The effects would reverberate across the world, and damage to South Korea’s role in global supply chains and hits to financial markets would be the least of anybody’s concerns. Story continues Given all this uncertainty, the Capital Economics analysis affixed a big asterisk next to the cost of reconstruction. Nevertheless, they offer a rough estimate of $1 trillion, which is three times the cost of the German reunification and is the same as one year of the South’s GDP. It is not cheap to rebuild a destroyed economy, and many things can never be rebuilt. Ethan Wolff-Mann is a writer at Yahoo Finance focusing on consumer issues, tech, and personal finance. Follow him on Twitter @ewolffmann . Got a tip? Send it to [email protected] . Read More: What Bitcoin needs to do to become real currency Trump weighs slashing one of the most popular tax deductions Big banks are going after Venmo and Venmo is winning 73% of Android users are less likely to switch to iPhone due to headphone jack ‘Market FOMO’ has millennials putting cash into the stock market Sometimes fake holidays like ‘National Ice Cream Day’ actually work A robot lawyer can fight your parking tickets and much more Consumer watchdog is making it easier for consumers to sue banks How ringless spam voicemails became a partisan issue How TripAdvisor hunted a robocaller that made 100 million calls to random people \|\| The potential costs and benefits of unifying North and South Korea: Tensions have escalated between North Korea and the U.S. as Kim Jong Un and President Donald Trump continue to spar following new sanctions imposed by the U.N. However, world financial markets have so far beenonly mildly affected by the newsgiven the historical default to diplomacy. But what if war does break out? A military conflict would clearly mean significant problems in the near-term, especially when you consider that nuclear weapons could be involved. The story regarding the long term is much less certain. According to recent analysis from Capital Economics, it is possible that the fall of North Korean supreme leader Kim Jong Un could be a net positive for what may become a unified Korean economy, depending entirely on how grave the means are to accomplish this end. Their estimate for the cost of unifying the two Koreas: $1 trillion. The best-case scenario,as Yahoo Finance has written before, is something akin to the reunification of Germany in 1990. South Korea would likely benefit economically in the long run,according to a report from Capital Economics. Like Japan and many European countries, South Korea has a population that is fairly old withthe median age 41.2. North Korea, however, is a much younger country with the median age of 33. In a peaceful transition, this would breathe youth back into the workforce and improve the South’s demographic outlook. Youth isn’t the North’s only natural resource — it’s home to the Korean peninsula’s greatest wealth of untouched raw materials. For South Korea, access would push down the need to import and provide it with cheaper building blocks for its strong manufacturing industry. Besides the utilization of North Korea’s potential, a unified Korea could benefit significantly from lower military expenses, which cost both countries dearly. That money would be freed up for other projects. Everything depends on how bad a military conflict would be. Analysts expect it to beshort but extremely brutal. The South’s largest city, Seoul, is just 35 miles from the border, and massive losses of life and infrastructure have the potential to cripple both countries to a degree never seen before. The effects would reverberate across the world, and damage to South Korea’s role in global supply chains and hits to financial markets would be the least of anybody’s concerns. Given all this uncertainty, the Capital Economics analysis affixed a big asterisk next to the cost of reconstruction. Nevertheless, they offer a rough estimate of $1 trillion, which is three times the cost of the German reunification and is the same as one year of the South’s GDP. It is not cheap to rebuild a destroyed economy, and many things can never be rebuilt. Ethan Wolff-Mannis a writer at Yahoo Finance focusing on consumer issues, tech, and personal finance. Follow him on Twitter@ewolffmann. Got a tip? Send it [email protected]. Read More: What Bitcoin needs to do to become real currency Trump weighs slashing one of the most popular tax deductions Big banks are going after Venmo and Venmo is winning 73% of Android users are less likely to switch to iPhone due to headphone jack ‘Market FOMO’ has millennials putting cash into the stock market Sometimes fake holidays like ‘National Ice Cream Day’ actually work A robot lawyer can fight your parking tickets and much more Consumer watchdog is making it easier for consumers to sue banks How ringless spam voicemails became a partisan issue How TripAdvisor hunted a robocaller that made 100 million calls to random people \|\| Top Wall Street strategist expects bitcoin to be the best asset through year-end: Bitcoin (Exchange: BTC=-USS) will likely outperform stocks and bonds the rest of the year, according to the first major Wall Street strategist to issue a report on the digital currency. "I think bitcoin is an underowned asset with potential for huge institutional sponsorship coming," Fundstrat co-founder Tom Lee said Wednesday on CNBC's " Fast Money ." "It has a lot of characteristics that are very similar to gold that I think will make it ultimately attractive as an alternate currency," he said. "It's a good store of value." Here's Lee's outlook on bitcoin given on the show into year-end: Gold or bitcoin? Bitcoin? "Yes." Would you rather own bitcoin versus a basket of U.S. stocks? "Between now and year end it's easily bitcoin." Will bitcoin be the best performing asset? "Yes." Bitcoin leaped to record highs this week above $3,500, more than tripling in value for the year despite a split in the currency last week into bitcoin and bitcoin cash, an alternative version supported by a minority of developers. Bitcoin traded 1.5 percent higher near $3,428 Thursday morning, according to CoinDesk. Bitcoin cash steadied after wild swings in its first week, trading near $303, according to CoinMarketCap. Another digital currency, ethereum (Exchange: ETH=) , rose 1 percent to just under $300, according to CoinDesk. Bitcoin three-month performance Source: CoinDesk Lee published a report in early July outlining the potential for bitcoin to rise above $20,000 and potentially reach $55,000 by 2022. Formerly the top stock strategist at JPMorgan and a perennial favorite of big institutional investors, Lee was also one of the few on Wall Street to predict that a Donald Trump win in last year's election would cause stocks to rally, not fall like most had seen. Lee sees another reason for optimism about bitcoin. "Institutions have to directly buy the coin today through a broker, but both the CBOE and the CFTC have opened up options futures trading, so I think it's going to grow in holdings," he told CNBC. Story continues In the last month, the Chicago Board Options Exchange said it plans to offer bitcoin futures by early next year, while the U.S. Commodity Futures Trading Commission approved a digital currency trading firm called LedgerX to clear derivatives. Market strategists have noted there are few highly attractive investment opportunities with U.S. stocks at all-time highs and bonds steady as the Federal Reserve remains on a gradual pace of monetary policy tightening and gold in a trading range. The median S&P 500 target of strategists surveyed by CNBC is 2,475, just a point above where the stock index closed Wednesday. Lee happens to be the most bearish among those strategists with a year-end target of 2,275, or 8 percent below Wednesday's close. More From CNBC Dow falls 100 points as North Korea tensions linger Early movers: KSS, APRN, GOOS, PRGO, EAT, DAL, FOXA, JACK, ELF & more North Korea concerns set the stage on Wall Street, stock futures fall \|\| Top Wall Street strategist expects bitcoin to be the best asset through year-end: Bitcoin(Exchange: BTC=-USS)will likely outperform stocks and bonds the rest of the year, according to the first major Wall Street strategist to issue a report on the digital currency. "I think bitcoin is an underowned asset with potential for huge institutional sponsorship coming," Fundstrat co-founder Tom Lee said Wednesday on CNBC's "Fast Money." "It has a lot of characteristics that are very similar to gold that I think will make it ultimately attractive as an alternate currency," he said. "It's a good store of value." Here's Lee's outlook on bitcoin given on the show into year-end: Gold or bitcoin? Bitcoin? Bitcoin leaped to record highs this week above $3,500, more than tripling in value for the year despite a split in the currency last week into bitcoin and bitcoin cash, an alternative version supported by a minority of developers. Bitcoin traded 1.5 percent higher near $3,428 Thursday morning, according to CoinDesk. Bitcoin cash steadied after wild swings in its first week, trading near $303, according to CoinMarketCap. Another digital currency, ethereum(Exchange: ETH=), rose 1 percent to just under $300, according to CoinDesk. Bitcoin three-month performance Source: CoinDesk Lee published a report in early July outlining thepotential for bitcoin to rise above $20,000 and potentially reach $55,000 by 2022.Formerly the top stock strategist at JPMorgan and a perennial favorite of big institutional investors, Lee was also one of the few on Wall Street to predict that a Donald Trump win in last year's election would cause stocks to rally, not fall like most had seen. Lee sees another reason for optimism about bitcoin. "Institutions have to directly buy the coin today through a broker, but both theCBOEand theCFTChave opened up options futures trading, so I think it's going to grow in holdings," he told CNBC. In the last month, the Chicago Board Options Exchange said it plans to offer bitcoin futures by early next year, while the U.S. Commodity Futures Trading Commission approved a digital currency trading firm called LedgerX to clear derivatives. Market strategists have noted there are few highly attractive investment opportunities with U.S. stocks at all-time highs and bonds steady as the Federal Reserve remains on a gradual pace of monetary policy tightening and gold in a trading range. The median S&P 500 target ofstrategists surveyed by CNBCis 2,475, just a point above where the stock index closed Wednesday. Lee happens to bethe most bearishamong those strategists with a year-end target of 2,275, or 8 percent below Wednesday's close. More From CNBC • Dow falls 100 points as North Korea tensions linger • Early movers: KSS, APRN, GOOS, PRGO, EAT, DAL, FOXA, JACK, ELF & more • North Korea concerns set the stage on Wall Street, stock futures fall \|\| Ossia thinks it's licked the problems with through-the-air charging: – Shocker: The world is going wireless. We eliminated the wires that transmit sound. Pictures. Text. Data. Now, there’s only one major cable left to ditch: the power cord. That’s the dream, right? Your phone charging all day, in your pocket. Your smartwatch always juiced up without leaving your wrist. Thinner, lighter, more shapely gadgets, freed from the obligation to contain a huge blocky battery. Plenty of companies are working on through-the-air charging for consumer electronics. But none have products on the market, and plenty of people (and investors) are skeptical that the concept will ever work. Too many safety, efficiency, and regulatory obstacles, they say. (Here, for example, is my investigation of the Energous distance-charging technology .) Another startup, called Ossia, thinks that it may have licked all three problems. Ossia hopes to have wireless distance charging on the market within 12 months How Ossia’s system works Like its rivals, its system (called Cota) involves a transmitter, which will someday be built into walls or ceilings, and a tiny receiver, which will someday be built into our phones and other devices. The transmitter tile (left) and the receiver prototype. (Cleverly enough, Ossia has also packed its receivers into AA batteries, so that our smoke detectors, thermostats, remote controls, toys, and game controllers can charge wirelessly, too.) Hatem Zeine shows off a AA battery that can recharge through the air. Energous, as I reported earlier, works by beam forming: Its transmitter contains hundreds of tiny antennas that focus on your phone. But Ossia founder Hatem Zeine says that beam forming isn’t nearly targeted enough. “The signal is as wide as the emitter,” he says. “It never gets any smaller. Your device will get some power, but so will all the environment around it. Your whole body would be receiving power.” His solution also involves thousands of tiny antennas. But his breakthrough is a clever call-and-response system that tells the transmitter where to send its power. Your phone pumps out a beacon signal: “a very short pulse—microseconds. It says, ‘I’m device A7374; I would like some power.’” This beacon signal reflects off of walls, windows, and people. (The power of this signal, Zeine says, is 1,000 times weaker than Bluetooth.) Story continues Each antenna in the transmitter receives that beacon signal from all of those paths, including the direct line-of-sight signal, if available. Now the transmitter knows where your gadget sits—and it sends power right back through those same paths. In other words, Zeine says, “non-line-of-sight charging is therefore possible. If line of sight is available, we’ll use it. But if not, we’ll use the other paths. We’re going to just play back the incoming beacon path.” Since the phone pumps out 100 beacon signals per second, it’s OK if it’s moving around the room in your pocket. The power beam stays locked on it. So how much power are we talking about? “The power is proportional to the area of the transmitter,” Zeine says. “We can charge a phone with 1 watt at three to six feet with a single [transmitter] tile. But we can also install multiple tiles—for example, in a ceiling—to cover a conference room or an airport gate. That way, we could charge eight phones at the same time in an area of 15 to 30 feet.” The demo To prove that Cota works, Zeine brought one tile, two feet square, to the Yahoo office. He also had a palm-size receiver containing a USB jack. I plugged an unprepared Android phone into it—borrowed from Alan, our sound man—and sure enough, it began charging. The receiver box was about five feet from the transmitter. We also tried a Samsung smartwatch. We plugged its charging stand into the Ossia wireless receiver—and sure enough, the watch unmistakably began to charge. But how could I test Zeine’s claim that Cota doesn’t need line of sight—that it’s constantly reconfiguring its beam path? After all, you can’t see the power beam, right? To solve that problem, Zeine produced a tiny detector paddle. It lights up only when it’s in the beam’s path. The paddle’s LED shines when it’s in the power’s path. By moving the paddle up, down, left, and right, and watching when the LED illuminates, I could very clearly see the path from the transmitter to the receiver. It was like using a candle flame to detect the stream of moving air from a fan. The paddle lit up whenever it intercepted the imaginary line between the transmitter and receiver—obviously. But when I stepped in between them and held the paddle in front of me, the light went out—yet the receiver was still receiving power! (How did I know? First, because the receiver has its own indicator light. Second, if we put the paddle next to the receiver, it lit up again.) Clearly, the power signal had found a new path around me—probably by bouncing off the walls and the ceiling. You can see all of this in the video above. When I stood in the way, the power signal found a path around me. If you’re clever, you’re already seeing the downside of this arrangement: It works only indoors. If you’re outside, there’s nothing to reflect the signals, and so the “no line of sight” feature goes away. Sorry about that, campers. Ossia’s future Ossia doesn’t intend to manufacture anything. Instead, it will license its technology to electronics makers. Before it can do that, of course, it must receive the FCC’s approval, which is a looming obstacle for any wireless-tech company. “We’ve shown that we can meet all the FCC’s requirements. Of course, there’s a lot of work we have to do. We don’t have a product—this is not going to market yet. But once these steps are completed, we will see products on the market. We believe that this is within 12 months from today.” Zeine admits that the doubts and troubles faced by his competitors have made the whole industry look bad. (An ex-engineering executive from rival uBeam, for example, said that uBeam’s technology is basically a hoax .) All of that makes his job harder. “People are very skeptical. But it’s also good, because it has created a lot of publicity for the wireless power market,” he says. “What others do, good luck to them. But we are the only company that’s demonstrated its product in public. We’ve also tested for safety. So we know that our technology can deploy. It’s not is a matter of if. It’s a matter of when—when we complete all the regulatory requirements, and so on.” In any case, he’s convinced that through-the-air charging will, one way or another, become a thing. “In a few years’ time, it will be like Wi-Fi. You’ll have it at the office, at home, in the car, on the plane, the coffee shop, et cetera. You won’t need to carry a 600-hour standby battery and a 12-hour talk-time battery. You’ll need maybe a one-hour talk time battery and a 50, 60-hour standby battery, because you’re getting power all the time.” Your phone will be thinner and more powerful, because its processor and screen can be brighter and faster. Why is he so confident? Because analysts estimate that by 2020, we’ll have a trillion Internet of Things gadgets—smart devices—in our homes. “And anything with the word ‘trillion’ in front of it is going to be lucrative,” Zeine points out. In case you were wondering, Ossia isn’t some nonsensical made-up word. In Latin, it means alternative. If you’re a musician, maybe you’ve seen sheet music examples like this one, where “ossia” offers an alternative, usually less difficult line to play or sing: In the musical world, “ossia” denotes an alternative to play. It’s a great name for Hatem Zeine’s technology—both because the whole thing presents an alternative way to charge things, and because the power is constantly finding alternative paths to your phone. Now let’s just hope it finds a path to our phones and gadgets. More from David Pogue: Is through-the-air charging a hoax? Electrify your existing bike in 2 minutes with these ingenious wheels Marty Cooper, inventor of the cellphone: The next step is implantables The David Pogue Review: Windows 10 Creators Update Now I get it: Bitcoin David Pogue’s search for the world’s best air-travel app The little-known iPhone feature that lets blind people see with their fingers David Pogue, tech columnist for Yahoo Finance, welcomes nontoxic comments in the comments section below. On the web, he’s davidpogue.com . On Twitter, he’s @pogue . On email, he’s [email protected]. You can read all his articles here , or you can sign up to get his columns by email . \|\| Ossia thinks it's licked the problems with through-the-air charging: – Shocker: The world is going wireless. We eliminated the wires that transmit sound. Pictures. Text. Data. Now, there’s only one major cable left to ditch: the power cord. That’s the dream, right? Your phone charging all day, in your pocket. Your smartwatch always juiced up without leaving your wrist. Thinner, lighter, more shapely gadgets, freed from the obligation to contain a huge blocky battery. Plenty of companies are working on through-the-air charging for consumer electronics. But none have products on the market, and plenty of people (and investors) are skeptical that the concept will ever work. Too many safety, efficiency, and regulatory obstacles, they say. (Here, for example, is my investigation of theEnergous distance-charging technology.) Another startup, called Ossia, thinks that it may have licked all three problems. Like its rivals, its system (called Cota) involves a transmitter, which will someday be built into walls or ceilings, and a tiny receiver, which will someday be built into our phones and other devices. (Cleverly enough, Ossia has also packed its receivers into AA batteries, so that our smoke detectors, thermostats, remote controls, toys, and game controllers can charge wirelessly, too.) Energous, as I reported earlier, works by beam forming: Its transmitter contains hundreds of tiny antennas that focus on your phone. But Ossia founder Hatem Zeine says that beam forming isn’t nearly targeted enough. “The signal is as wide as the emitter,” he says. “It never gets any smaller. Your device will get some power, but so will all the environment around it. Your whole body would be receiving power.” His solution also involves thousands of tiny antennas. But his breakthrough is a clever call-and-response system that tells the transmitter where to send its power. Your phone pumps out a beacon signal: “a very short pulse—microseconds. It says, ‘I’m device A7374; I would like some power.’” This beacon signal reflects off of walls, windows, and people. (The power of this signal, Zeine says, is 1,000 times weaker than Bluetooth.) Each antenna in the transmitter receives that beacon signal from all of those paths, including the direct line-of-sight signal, if available. Now the transmitter knows where your gadget sits—and it sends power right back through those same paths. In other words, Zeine says, “non-line-of-sight charging is therefore possible. If line of sight is available, we’ll use it. But if not, we’ll use the other paths. We’re going to just play back the incoming beacon path.” Since the phone pumps out 100 beacon signals per second, it’s OK if it’s moving around the room in your pocket. The power beam stays locked on it. So how much power are we talking about? “The power is proportional to the area of the transmitter,” Zeine says. “We can charge a phone with 1 watt at three to six feet with a single [transmitter] tile. But we can also install multiple tiles—for example, in a ceiling—to cover a conference room or an airport gate. That way, we could charge eight phones at the same time in an area of 15 to 30 feet.” To prove that Cota works, Zeine brought one tile, two feet square, to the Yahoo office. He also had a palm-size receiver containing a USB jack. I plugged an unprepared Android phone into it—borrowed from Alan, our sound man—and sure enough, it began charging. The receiver box was about five feet from the transmitter. We also tried a Samsung smartwatch. We plugged its charging stand into the Ossia wireless receiver—and sure enough, the watch unmistakably began to charge. But how could I test Zeine’s claim that Cota doesn’t need line of sight—that it’s constantly reconfiguring its beam path? After all, you can’t see the power beam, right? To solve that problem, Zeine produced a tiny detector paddle. It lights up only when it’s in the beam’s path. By moving the paddle up, down, left, and right, and watching when the LED illuminates, I could very clearly see the path from the transmitter to the receiver. It was like using a candle flame to detect the stream of moving air from a fan. The paddle lit up whenever it intercepted the imaginary line between the transmitter and receiver—obviously. But when I stepped in between them and held the paddle in front of me, the light went out—yet the receiver was still receiving power! (How did I know? First, because the receiver has its own indicator light. Second, if we put the paddle next to the receiver, it lit up again.) Clearly, the power signal had found a new path around me—probably by bouncing off the walls and the ceiling. You can see all of this in the video above. If you’re clever, you’re already seeing the downside of this arrangement: It works only indoors. If you’re outside, there’s nothing to reflect the signals, and so the “no line of sight” feature goes away. Sorry about that, campers. Ossia doesn’t intend to manufacture anything. Instead, it will license its technology to electronics makers. Before it can do that, of course, it must receive the FCC’s approval, which is a looming obstacle for any wireless-tech company. “We’ve shown that we can meet all the FCC’s requirements. Of course, there’s a lot of work we have to do. We don’t have a product—this is not going to market yet. But once these steps are completed, we will see products on the market. We believe that this is within 12 months from today.” Zeine admits that the doubts and troubles faced by his competitors have made the whole industry look bad. (An ex-engineering executive from rival uBeam, for example, said that uBeam’s technology isbasically a hoax.) All of that makes his job harder. “People are very skeptical. But it’s also good, because it has created a lot of publicity for the wireless power market,” he says. “What others do, good luck to them. But we are the only company that’s demonstrated its product in public. We’ve also tested for safety. So we know that our technology can deploy. It’s not is a matter of if. It’s a matter of when—when we complete all the regulatory requirements, and so on.” In any case, he’s convinced that through-the-air charging will, one way or another, become a thing. “In a few years’ time, it will be like Wi-Fi. You’ll have it at the office, at home, in the car, on the plane, the coffee shop, et cetera. You won’t need to carry a 600-hour standby battery and a 12-hour talk-time battery. You’ll need maybe a one-hour talk time battery and a 50, 60-hour standby battery, because you’re getting power all the time.” Your phone will be thinner and more powerful, because its processor and screen can be brighter and faster. Why is he so confident? Because analysts estimate that by 2020, we’ll have a trillion Internet of Things gadgets—smart devices—in our homes. “And anything with the word ‘trillion’ in front of it is going to be lucrative,” Zeine points out. In case you were wondering,Ossiaisn’t some nonsensical made-up word. In Latin, it meansalternative.If you’re a musician, maybe you’ve seen sheet music examples like this one, where “ossia” offers an alternative, usually less difficult line to play or sing: It’s a great name for Hatem Zeine’s technology—both because the whole thing presents an alternative way to charge things, and because the power is constantly finding alternative paths to your phone. Now let’s just hope it finds a path to our phones and gadgets. More from David Pogue: Is through-the-air charging a hoax? Electrify your existing bike in 2 minutes with these ingenious wheels Marty Cooper, inventor of the cellphone: The next step is implantables The David Pogue Review: Windows 10 Creators Update Now I get it: Bitcoin David Pogue’s search for the world’s best air-travel app The little-known iPhone feature that lets blind people see with their fingers David Pogue, tech columnist for Yahoo Finance, welcomes nontoxic comments in the comments section below. On the web, he’sdavidpogue.com. On Twitter, he’s@pogue. On email, he’s [email protected]. You canread all his articles here, or you can sign up toget his columns by email. \|\| What Bitcoin needs to do to become a real currency: There are a few Bitcoin ATMs around as the cryptocurrencys popularity gains. With the boom, however, people are incentivized not to use them. (Photo by Drew Angerer/Getty Images) The price of the digital currency Bitcoin has skyrocketed this year for myriad reasons , and many cryptocurrency advocates are nodding approvingly as rising prices reflect higher demand. In March, Bitcoin was hovering at just $1,000 per coin, and now the prices have tripled. Currently, a single bitcoin ( BTC ) is worth almost $3,300. But while the meteoric rise is good for speculators, it is extremely bad news for people who wish to see Bitcoins adoption as a functional currency. If you open any macroeconomics textbook, it will identify a currency based on three things, says Lawrence White, a professor at NYUs Stern business school. Its a medium of exchange, which means you can use it to buy and sell stuff. Its a unit of account, to keep track of stuff. And its a store of value, he tells Yahoo Finance. Bitcoins massive gains of late make it even tougher to function in those three arenas. For people to want to use a currency for commerce, keeping track of value, and storing value, at least some stability is vital. Bitcoins value is all over the place I have a fair amount of trust that a dollar today will be worth approximately the same amount of stuff tomorrow, White says. I dont have the same confidence that may be true with Bitcoin. Its also the reason why General Motors stock has not become a substitute in transactions for dollars. White strikes the heart of the matter with this description. Bitcoin has been behaving much more like a long-term, buy-and-hold investment than a currency for daily use. As such, people who are betting cryptocurrencies will take off arent looking to empty their Bitcoin wallets, but to buy and hold. There is absolutely no motivation to transact in Bitcoin besides the privacy and security aspects, which are not a major factor for most people. What if one bitcoin is worth $4,000 next month? Its not hard to see how a bull market is bad for the transactional vision of the cryptocurrency. For Bitcoin to gain traction, it has to achieve at least a semblance of steady value. We are reluctant to transact in something where the day-to-day value for our transactions purposes could vary substantially, White said. Acceptability is everything Bitcoin does have a few things going in its favor. Some retailers like Overstock.com do accept Bitcoin. According to White, acceptability is perhaps the most important mark of a currency, and thats one of the reasons the U.S. dollar is so powerful: The government says it legally must be accepted. Bitcoin does not have this governmental guarantee of universal acceptance, so citizens or businesses are not obligated to accept those payments. Its self-reinforcing, White said. Why do people accept it? Because they believe other people will accept it. Why do they frown and are reluctant or refuse? Because theyre afraid they wouldnt be able to find anyone to accept it. Story continues For Bitcoin to become more currency-like, it needs to conquer the currency paradox: When more people accept it, more people will accept it. This network effect is key. There is no insurance to back it up Bitcoin has another serious roadblock to complete acceptability as currency: insurance. Since the 1930s, the U.S. has offered deposit insurance, and currently up to $250,000 per account is insured by banks chartered with the FDIC. The system has never failed. For a cryptocurrency, none of that guarantee is there, making it tougher to justify in large quantities. A disappearance is not unheard of in the Bitcoin world, and in 2014, 850,000 bitcoins went missing from Mt. Gox, a Japanese Bitcoin exchange. While some have been recovered, there was no insurance to make depositors whole. Bitcoins founder(s) got a lot right though Despite having some serious headwinds that may prevent Bitcoin from being a more mainstream method of transaction, Bitcoins founder (or foundersno one knows, still, the true identity of the pseudonym Satoshi Nakamoto, who wrote the Bitcoin white paper in 2009) cleverly hurdled many issues for fledgeling currencies. The genius of Bitcoin is that it managed to solve many of the standard issues of currency. If a successful currency needs to gain peoples trust and near-universal acceptance, it needs to assure people that it wont flood the market. With US currency, weve mostly been relying on restraint of our national government, not to just run the printing press, White said. With Bitcoin, the mining process and blockchain seem to successfully restrain the amount of growth and prevent hyperinflation. Not only is it likely impossible for Bitcoins founders to simply crank the printing presses to make themselves rich, potentially hyperinflating the market, but the Blockchain technology means that another issue is solved: counterfeiting. Fighting counterfeiting is an extremely important process for making a currency more stable; its why the U.S. expends considerable resources to protect its currency. These barriers to becoming currency may last a while It is certainly possible Bitcoin wont stabilize any time soon to become a widely used currency. Predictions for Bitcoin prices in 2022 from Fundstrat put a single bitcoins potential value at $12,000 to $55,000 per unit, a growth factor of around 3x to a whopping 16x from todays prices. But it would be unimaginative to only view Bitcoin in terms of investing or transactional currency. There is most certainly a middle ground, usually exemplified by the asset class most associated with Bitcoin gold . Both are asset classes with a unique inherent value, gold is a useful material, and Bitcoin is also a self-supporting payments network. Since it stopped being proper currency, gold has become something between an investment and transactional currency a way to hedge, and an alternate, albeit awkward, quasi-currency with the built-in benefit. And this fate, rather than actual use-it-at-the-store currency, may be Bitcoins ceiling. Ethan Wolff-Mann is a writer at Yahoo Finance focusing on consumer issues, tech, and personal finance. Follow him on Twitter @ewolffmann . Got a tip? Send it to [email protected] . Read More: Trump weighs slashing one of the most popular tax deductions Big banks are going after Venmo and Venmo is winning 73% of Android users are less likely to switch to iPhone due to headphone jack Market FOMO has millennials putting cash into the stock market Sometimes fake holidays like National Ice Cream Day actually work A robot lawyer can fight your parking tickets and much more Consumer watchdog is making it easier for consumers to sue banks How ringless spam voicemails became a partisan issue How TripAdvisor hunted a robocaller that made 100 million calls to random people View comments \|\| What Bitcoin needs to do to become a real currency: The price of the digital currency Bitcoin hasskyrocketed this year for myriad reasons, and many cryptocurrency advocates are nodding approvingly as rising prices reflect higher demand. In March, Bitcoin was hovering at just $1,000 per coin, and now the prices have tripled. Currently, a single bitcoin (BTC) is worth almost $3,300. But while the meteoric rise is good for speculators, it is extremely bad news for people who wish to see Bitcoin’s adoption as a functional currency. If you open any macroeconomics textbook, it will identify a “currency” based on three things, says Lawrence White, a professor at NYU’s Stern business school. “It’s a medium of exchange, which means you can use it to buy and sell stuff. It’s a unit of account, to keep track of stuff. And it’s a store of value,” he tells Yahoo Finance. Bitcoin’s massive gains of late make it even tougher to function in those three arenas. For people to want to use a currency for commerce, keeping track of value, and storing value, at least some stability is vital. “I have a fair amount of trust that a dollar today will be worth approximately the same amount of stuff tomorrow,” White says. “I don’t have the same confidence that may be true with Bitcoin. It’s also the reason why General Motors stock has not become a substitute in transactions for dollars.” White strikes the heart of the matter with this description. Bitcoin has been behaving much more like a long-term, buy-and-hold investment than a currency for daily use. As such, people who are betting cryptocurrencies will take off aren’t looking to empty their Bitcoin wallets, but to buy and hold. There is absolutely no motivation to transact in Bitcoin besides the privacy and security aspects, which are not a major factor for most people. What if one bitcoin is worth $4,000 next month? It’s not hard to see how a bull market is bad for the transactional vision of the cryptocurrency. For Bitcoin to gain traction, it has to achieve at least a semblance of steady value. “We are reluctant to transact in something where the day-to-day value for our transactions’ purposes could vary substantially,” White said. Bitcoin does have a few things going in its favor. Some retailers like Overstock.com do accept Bitcoin. According to White, acceptability is perhaps the most important mark of a currency, and that’s one of the reasons the U.S. dollar is so powerful: The government says it legally must be accepted. Bitcoin does not have this governmental guarantee of universal acceptance, so citizens or businesses are not obligated to accept those payments. “It’s self-reinforcing,” White said. “Why do people accept it? Because they believe other people will accept it. Why do they frown and are reluctant or refuse? Because they’re afraid they wouldn’t be able to find anyone to accept it.” For Bitcoin to become more currency-like, it needs to conquer the currency paradox: When more people accept it, more people will accept it. This network effect is key. Bitcoin has another serious roadblock to complete acceptability as currency: insurance. Since the 1930s, the U.S. has offered deposit insurance, and currently up to $250,000 per account is insured by banks chartered with the FDIC. The system has never failed. For a cryptocurrency, none of that guarantee is there, making it tougher to justify in large quantities. A disappearance is not unheard of in the Bitcoin world, and in 2014, 850,000 bitcoins went missing from Mt. Gox, a Japanese Bitcoin exchange. While some have been recovered, there was no insurance to make depositors whole. Despite having some serious headwinds that may prevent Bitcoin from being a more mainstream method of transaction, Bitcoin’s founder (or founders—no one knows, still, the true identity of the pseudonym Satoshi Nakamoto, who wrote the Bitcoin white paper in 2009) cleverly hurdled many issues for fledgeling currencies. The genius of Bitcoin is that it managed to solve many of the standard issues of currency. If a successful currency needs to gain people’s trust and near-universal acceptance, it needs to assure people that it won’t flood the market. “With US currency, we’ve mostly been relying on restraint of our national government, not to just run the printing press,” White said. With Bitcoin, the mining process and blockchain seem to successfully restrain the amount of growth and prevent hyperinflation. Not only is it likely impossible for Bitcoin’s founders to simply crank the printing presses to make themselves rich, potentially hyperinflating the market, but the Blockchain technology means that another issue is solved: counterfeiting. Fighting counterfeiting is an extremely important process for making a currency more stable; it’s why the U.S. expends considerable resources to protect its currency. It is certainly possible Bitcoin won’t stabilize any time soon to become a widely used currency. Predictions for Bitcoin prices in 2022 from Fundstrat put a single bitcoin’s potential value at $12,000 to $55,000 per unit, a growth factor of around 3x to a whopping 16x from today’s prices. But it would be unimaginative to only view Bitcoin in terms of investing or transactional currency. There is most certainly a middle ground, usually exemplified bythe asset class most associated with Bitcoin — gold. Both are asset classes with a unique inherent value, gold is a useful material, and Bitcoin is also a self-supporting payments network. Since it stopped being proper currency, gold has become something between an investment and transactional currency — a way to hedge, and an alternate, albeit awkward, quasi-currency with the built-in benefit. And this fate, rather than actual use-it-at-the-store currency, may be Bitcoin’s ceiling. — Ethan Wolff-Mannis a writer at Yahoo Finance focusing on consumer issues, tech, and personal finance. Follow him on Twitter@ewolffmann. Got a tip? Send it [email protected]. Read More: Trump weighs slashing one of the most popular tax deductions Big banks are going after Venmo and Venmo is winning 73% of Android users are less likely to switch to iPhone due to headphone jack ‘Market FOMO’ has millennials putting cash into the stock market Sometimes fake holidays like ‘National Ice Cream Day’ actually work A robot lawyer can fight your parking tickets and much more Consumer watchdog is making it easier for consumers to sue banks How ringless spam voicemails became a partisan issue How TripAdvisor hunted a robocaller that made 100 million calls to random people \|\| What Bitcoin needs to do to become a real currency: The price of the digital currency Bitcoin hasskyrocketed this year for myriad reasons, and many cryptocurrency advocates are nodding approvingly as rising prices reflect higher demand. In March, Bitcoin was hovering at just $1,000 per coin, and now the prices have tripled. Currently, a single bitcoin (BTC) is worth almost $3,300. But while the meteoric rise is good for speculators, it is extremely bad news for people who wish to see Bitcoin’s adoption as a functional currency. If you open any macroeconomics textbook, it will identify a “currency” based on three things, says Lawrence White, a professor at NYU’s Stern business school. “It’s a medium of exchange, which means you can use it to buy and sell stuff. It’s a unit of account, to keep track of stuff. And it’s a store of value,” he tells Yahoo Finance. Bitcoin’s massive gains of late make it even tougher to function in those three arenas. For people to want to use a currency for commerce, keeping track of value, and storing value, at least some stability is vital. “I have a fair amount of trust that a dollar today will be worth approximately the same amount of stuff tomorrow,” White says. “I don’t have the same confidence that may be true with Bitcoin. It’s also the reason why General Motors stock has not become a substitute in transactions for dollars.” White strikes the heart of the matter with this description. Bitcoin has been behaving much more like a long-term, buy-and-hold investment than a currency for daily use. As such, people who are betting cryptocurrencies will take off aren’t looking to empty their Bitcoin wallets, but to buy and hold. There is absolutely no motivation to transact in Bitcoin besides the privacy and security aspects, which are not a major factor for most people. What if one bitcoin is worth $4,000 next month? It’s not hard to see how a bull market is bad for the transactional vision of the cryptocurrency. For Bitcoin to gain traction, it has to achieve at least a semblance of steady value. “We are reluctant to transact in something where the day-to-day value for our transactions’ purposes could vary substantially,” White said. Bitcoin does have a few things going in its favor. Some retailers like Overstock.com do accept Bitcoin. According to White, acceptability is perhaps the most important mark of a currency, and that’s one of the reasons the U.S. dollar is so powerful: The government says it legally must be accepted. Bitcoin does not have this governmental guarantee of universal acceptance, so citizens or businesses are not obligated to accept those payments. “It’s self-reinforcing,” White said. “Why do people accept it? Because they believe other people will accept it. Why do they frown and are reluctant or refuse? Because they’re afraid they wouldn’t be able to find anyone to accept it.” For Bitcoin to become more currency-like, it needs to conquer the currency paradox: When more people accept it, more people will accept it. This network effect is key. Bitcoin has another serious roadblock to complete acceptability as currency: insurance. Since the 1930s, the U.S. has offered deposit insurance, and currently up to $250,000 per account is insured by banks chartered with the FDIC. The system has never failed. For a cryptocurrency, none of that guarantee is there, making it tougher to justify in large quantities. A disappearance is not unheard of in the Bitcoin world, and in 2014, 850,000 bitcoins went missing from Mt. Gox, a Japanese Bitcoin exchange. While some have been recovered, there was no insurance to make depositors whole. Despite having some serious headwinds that may prevent Bitcoin from being a more mainstream method of transaction, Bitcoin’s founder (or founders—no one knows, still, the true identity of the pseudonym Satoshi Nakamoto, who wrote the Bitcoin white paper in 2009) cleverly hurdled many issues for fledgeling currencies. The genius of Bitcoin is that it managed to solve many of the standard issues of currency. If a successful currency needs to gain people’s trust and near-universal acceptance, it needs to assure people that it won’t flood the market. “With US currency, we’ve mostly been relying on restraint of our national government, not to just run the printing press,” White said. With Bitcoin, the mining process and blockchain seem to successfully restrain the amount of growth and prevent hyperinflation. Not only is it likely impossible for Bitcoin’s founders to simply crank the printing presses to make themselves rich, potentially hyperinflating the market, but the Blockchain technology means that another issue is solved: counterfeiting. Fighting counterfeiting is an extremely important process for making a currency more stable; it’s why the U.S. expends considerable resources to protect its currency. It is certainly possible Bitcoin won’t stabilize any time soon to become a widely used currency. Predictions for Bitcoin prices in 2022 from Fundstrat put a single bitcoin’s potential value at $12,000 to $55,000 per unit, a growth factor of around 3x to a whopping 16x from today’s prices. But it would be unimaginative to only view Bitcoin in terms of investing or transactional currency. There is most certainly a middle ground, usually exemplified bythe asset class most associated with Bitcoin — gold. Both are asset classes with a unique inherent value, gold is a useful material, and Bitcoin is also a self-supporting payments network. Since it stopped being proper currency, gold has become something between an investment and transactional currency — a way to hedge, and an alternate, albeit awkward, quasi-currency with the built-in benefit. And this fate, rather than actual use-it-at-the-store currency, may be Bitcoin’s ceiling. — Ethan Wolff-Mannis a writer at Yahoo Finance focusing on consumer issues, tech, and personal finance. Follow him on Twitter@ewolffmann. Got a tip? Send it [email protected]. Read More: Trump weighs slashing one of the most popular tax deductions Big banks are going after Venmo and Venmo is winning 73% of Android users are less likely to switch to iPhone due to headphone jack ‘Market FOMO’ has millennials putting cash into the stock market Sometimes fake holidays like ‘National Ice Cream Day’ actually work A robot lawyer can fight your parking tickets and much more Consumer watchdog is making it easier for consumers to sue banks How ringless spam voicemails became a partisan issue How TripAdvisor hunted a robocaller that made 100 million calls to random people [Social Media Buzz] LOVE!!EgyptWe hope to help, thank you. /bitcoin 1896UwURka9J4MCbSdwfMc1pynArfWYXUf /amazon.com Wish List http://www.amazon.com/gp/registry/wishlist/ref=nav_youraccount_wl?ie=UTF8&requiresSignIn=1 … \|\| Bitcoin Sportsbook INplay (BUL-S/E) Tundja 2006 Yagoda vs FC Eurocollege: 2-4 - Match Finished via http://betbitcoin.pro \|\| Que no te pase cuando llegue a 10.000 el bitcoin sube por que sube pic.twitter.com/Pu1s8UVfLx \|\| #Monacoin 44.6円↓[Zaif] 38.67円↓[もなとれ] #NEM #XEM 29.2531円↓[Zaif] #Bitcoi...	4325.13, 4181.93, 4376.63, 4331.69, 4160.62, 4193.70, 4087.66, 4001.74, 4100.52, 4151.52
Given the historical Bitcoin prices from the last 90 days, predict the next 10 daily closing prices. The historical prices are: 281.88, 278.58, 279.58, 261.00, 265.08, 264.47, 270.39, 266.38, 264.08, 265.68, 261.55, 258.51, 257.98, 211.08, 226.68, 235.35, 232.57, 230.39, 228.17, 210.49, 221.61, 225.83, 224.77, 231.40, 229.78, 228.76, 230.06, 228.12, 229.28, 227.18, 230.30, 235.02, 239.84, 239.85, 243.61, 238.17, 238.48, 240.11, 235.23, 230.51, 230.64, 230.30, 229.09, 229.81, 232.98, 231.49, 231.21, 227.09, 230.62, 230.28, 234.53, 235.14, 234.34, 232.76, 239.14, 236.69, 236.06, 237.55, 237.29, 238.73, 238.26, 240.38, 246.06, 242.97, 242.30, 243.93, 244.94, 247.05, 245.31, 249.51, 251.99, 254.32, 262.87, 270.64, 261.64, 263.44, 269.46, 266.27, 274.02, 276.50, 281.65, 283.68, 285.30, 293.79, 304.62, 313.86, 328.02, 314.17, 325.43, 361.19.	[Bitcoin Technical Analysis for 2015-11-02] Volume: 101918000, RSI (14-day): 84.27, 50-day EMA: 269.65, 200-day EMA: 257.24 [Wider Market Context] Gold Price: 1135.80, Gold RSI: 41.44 Oil Price: 46.14, Oil RSI: 51.39 [Recent News (last 7 days)] Bitcoin Investor, Taking Things to a New Level: Bitcoin Exchange Offices to Be Opened in 6 Countries: WILMINGTON, DE --(Marketwired - November 01, 2015) - Digital currency markets, especially those of Bitcoin, continue to be surrounded by a lot of hype these days and while some skeptics claim that Bitcoin will always remain the currency of the future, without ever embodying that so much expected future, the tech industry businessmen who take the enthusiast side are putting money down on the table to invest in Bitcoin and the development of the opportunity they see attached. Miners Center Inc., a Delaware based cryptocurrency trading company, has taken bold action in the direction of digital currency, as they do not only see it being in a sweet spot, but they also believe it will deliver according to Bitcoin believers' expectations in the near future. Since it has been established in 2014, the company has been buying large amounts of Bitcoin, at higher market price, in order to achieve their targeted volumes for what is boldly outlined within their business plan as the next step. By the end of Q4, Miners Center will have opened ten small Bitcoin exchange offices throughout the globe: three of them in the USA, two in Canada, two in Australia, one in the UK, one in Germany and one in Hungary. Although the company has planned everything in detail, specific information related to the exact location of the exchange offices and their operational means will be revealed at their actual launching, which will be handled by the company with proper PR and marketing exposure. However, besides the news of taking things further with Bitcoin, Miners Center does state that the rates policy within the physical exchange offices will not bring over-the-market-price revenues to its clients, as the company's actual customers have been accustomed up to this point. The current 10% higher-than-the-market-price rate for Bitcoin purchase offered by Miners Center via their official web-site ( www.minerscenter.com ) has taken so far the shape of a different business unit within the company, governed by a targeted volume-buying strategy and both the exclusively buyer orientation and hot offer itself, will be discontinued as soon as the company reaches enough Bitcoin resources to start operating what was intended as their core business in the first place. Miners Center state that they are very close to reaching the desired purchase volumes and such turn is expected in the near future. Story continues The CEO of Miners Center, Emilian Tourey, an enthusiast, true believer and an advocate of the Bitcoin currency claims that he's proud of having seen the opportunity and having invested his money into something he strongly believes will bring both a substantial return of investment and a tremendous personal satisfaction for being among the first who's supported building up an alternative to the current financial system. "I am not naive, nor am I a dreamer. I am business man and I do see the flaws attached to Bitcoin, together with the security issues and I also hear the skeptics' arguments. However, I also see the need of more and more people for an alternative to what is now the mainstream financial system. Businesses involved with Bitcoin now need to understand that in order to gain exposure to a larger public, we have to make Bitcoin easily understandable and available to a broader audience and in order to do that, we have to use some of the traditional ways, but without pushing them too far and aiming to become the new bankers at the table. This is one of the major challenges I see for Bitcoin to achieve a widespread adoption, together with the legal legitimacy and a fair, non-opposing regulations," states Tourey. Taking the Bitcoin deal from exclusively online to the physical, traditional exchange office may be indeed considered the cornerstone of creating the alternative system Tourey aims at. More information about Miners Center Inc. may be found at their official web-site: www.minerscenter.com \|\| Bitcoin Investor, Taking Things to a New Level: Bitcoin Exchange Offices to Be Opened in 6 Countries: WILMINGTON, DE--(Marketwired - November 01, 2015) -Digital currency markets, especially those of Bitcoin, continue to be surrounded by a lot of hype these days and while some skeptics claim that Bitcoin will always remain the currency of the future, without ever embodying that so much expected future, the tech industry businessmen who take the enthusiast side are putting money down on the table to invest in Bitcoin and the development of the opportunity they see attached. Miners Center Inc., a Delaware based cryptocurrency trading company, has taken bold action in the direction of digital currency, as they do not only see it being in a sweet spot, but they also believe it will deliver according to Bitcoin believers' expectations in the near future. Since it has been established in 2014, the company has been buying large amounts of Bitcoin, at higher market price, in order to achieve their targeted volumes for what is boldly outlined within their business plan as the next step. By the end of Q4, Miners Center will have opened ten small Bitcoin exchange offices throughout the globe: three of them in the USA, two in Canada, two in Australia, one in the UK, one in Germany and one in Hungary. Although the company has planned everything in detail, specific information related to the exact location of the exchange offices and their operational means will be revealed at their actual launching, which will be handled by the company with proper PR and marketing exposure. However, besides the news of taking things further with Bitcoin, Miners Center does state that the rates policy within the physical exchange offices will not bring over-the-market-price revenues to its clients, as the company's actual customers have been accustomed up to this point. The current 10% higher-than-the-market-price rate for Bitcoin purchase offered by Miners Center via their official web-site (www.minerscenter.com) has taken so far the shape of a different business unit within the company, governed by a targeted volume-buying strategy and both the exclusively buyer orientation and hot offer itself, will be discontinued as soon as the company reaches enough Bitcoin resources to start operating what was intended as their core business in the first place. Miners Center state that they are very close to reaching the desired purchase volumes and such turn is expected in the near future. The CEO of Miners Center, Emilian Tourey, an enthusiast, true believer and an advocate of the Bitcoin currency claims that he's proud of having seen the opportunity and having invested his money into something he strongly believes will bring both a substantial return of investment and a tremendous personal satisfaction for being among the first who's supported building up an alternative to the current financial system. "I am not naive, nor am I a dreamer. I am business man and I do see the flaws attached to Bitcoin, together with the security issues and I also hear the skeptics' arguments. However, I also see the need of more and more people for an alternative to what is now the mainstream financial system. Businesses involved with Bitcoin now need to understand that in order to gain exposure to a larger public, we have to make Bitcoin easily understandable and available to a broader audience and in order to do that, we have to use some of the traditional ways, but without pushing them too far and aiming to become the new bankers at the table. This is one of the major challenges I see for Bitcoin to achieve a widespread adoption, together with the legal legitimacy and a fair, non-opposing regulations," states Tourey. Taking the Bitcoin deal from exclusively online to the physical, traditional exchange office may be indeed considered the cornerstone of creating the alternative system Tourey aims at. More information about Miners Center Inc. may be found at their official web-site:www.minerscenter.com \|\| Bitcoin Investor, Taking Things to a New Level: Bitcoin Exchange Offices to Be Opened in 6 Countries: WILMINGTON, DE--(Marketwired - November 01, 2015) -Digital currency markets, especially those of Bitcoin, continue to be surrounded by a lot of hype these days and while some skeptics claim that Bitcoin will always remain the currency of the future, without ever embodying that so much expected future, the tech industry businessmen who take the enthusiast side are putting money down on the table to invest in Bitcoin and the development of the opportunity they see attached. Miners Center Inc., a Delaware based cryptocurrency trading company, has taken bold action in the direction of digital currency, as they do not only see it being in a sweet spot, but they also believe it will deliver according to Bitcoin believers' expectations in the near future. Since it has been established in 2014, the company has been buying large amounts of Bitcoin, at higher market price, in order to achieve their targeted volumes for what is boldly outlined within their business plan as the next step. By the end of Q4, Miners Center will have opened ten small Bitcoin exchange offices throughout the globe: three of them in the USA, two in Canada, two in Australia, one in the UK, one in Germany and one in Hungary. Although the company has planned everything in detail, specific information related to the exact location of the exchange offices and their operational means will be revealed at their actual launching, which will be handled by the company with proper PR and marketing exposure. However, besides the news of taking things further with Bitcoin, Miners Center does state that the rates policy within the physical exchange offices will not bring over-the-market-price revenues to its clients, as the company's actual customers have been accustomed up to this point. The current 10% higher-than-the-market-price rate for Bitcoin purchase offered by Miners Center via their official web-site (www.minerscenter.com) has taken so far the shape of a different business unit within the company, governed by a targeted volume-buying strategy and both the exclusively buyer orientation and hot offer itself, will be discontinued as soon as the company reaches enough Bitcoin resources to start operating what was intended as their core business in the first place. Miners Center state that they are very close to reaching the desired purchase volumes and such turn is expected in the near future. The CEO of Miners Center, Emilian Tourey, an enthusiast, true believer and an advocate of the Bitcoin currency claims that he's proud of having seen the opportunity and having invested his money into something he strongly believes will bring both a substantial return of investment and a tremendous personal satisfaction for being among the first who's supported building up an alternative to the current financial system. "I am not naive, nor am I a dreamer. I am business man and I do see the flaws attached to Bitcoin, together with the security issues and I also hear the skeptics' arguments. However, I also see the need of more and more people for an alternative to what is now the mainstream financial system. Businesses involved with Bitcoin now need to understand that in order to gain exposure to a larger public, we have to make Bitcoin easily understandable and available to a broader audience and in order to do that, we have to use some of the traditional ways, but without pushing them too far and aiming to become the new bankers at the table. This is one of the major challenges I see for Bitcoin to achieve a widespread adoption, together with the legal legitimacy and a fair, non-opposing regulations," states Tourey. Taking the Bitcoin deal from exclusively online to the physical, traditional exchange office may be indeed considered the cornerstone of creating the alternative system Tourey aims at. More information about Miners Center Inc. may be found at their official web-site:www.minerscenter.com \|\| How to avoid the curse of ransomware — software that forces you to pay money to unlock your computer: Ransomware Screen Shot (Christiaan Colen / Flickr) Criminals don’t need to kidnap humans to extort money out of individuals or organizations. They've found something that’s possibly just as valuable and can be much easier to obtain: your computer files. Ransomware – a form of malware that infects a computer and encrypts all its files – is nothing new. Since 1989, beginning with the AIDS Trojan , which was distributed using floppy disks to attendees of the World Health Organization’s international AIDS conference, cyber criminals have been offering ultimatums to victims: pay the demanded ransom or lose your data forever. This malicious software has adapted seamlessly with technological advances and now spreads through infected programs, compromised websites, and email attachments. From the moment a victim clicks the infected mode of delivery, the virus begins encrypting everything on their computer, as Lee Danielson – who happens to be my father – discovered last year when his computer was hijacked by ransomware. In what he calls a “rotten luck and timing,” Danielson was scrolling through his inbox when he happened upon an email that claimed to be from Florida’s Broward County Clerk office, which said that it had information on his pending case. At the time, he happened to be fighting a parking ticket. While his “gut feeling” told him there was something odd about the government sending an email over a letter, he proceeded to do one thing that sends shivers down every cybersecurity expert’s spine: he opened the email attachment. Every file on Danielson’s computer was replaced with a ransom note explaining his files were no longer his and if he wanted them back, he’d have to follow the provided link where he could pay to get the key to unlock his files. His only thought? “Damn it. I’m screwed,” which was about the same advice he received from an IT expert he used for work, and Best Buy’s Geek Squad. Both essentially told him, “pay up or wipe your computer clean.” The ransom note even told him not to bother buying anti-malware software because his computer was beyond saving. The solution This story is echoed by an ever-growing number of victims. Large and small enterprises, government organizations , average consumers , and even police departments have all been either forced to give in to the ransomware authors demands or lose everything. Most ransoms are between $200 and $10,000, and they're often paid through cryptocurrency Bitcoin. The most prevalent ransomware, CryptoWall, cost victims around $18 million from April 2014 to June 2015, the FBI says. And the problem is only expected to get worse. Story continues But there are resources out there meant to stop these attacks as they happen. One example is Blue Ridge Networks’ AppGuard , which is designed to stop both known and unknown malware from ever making its way onto your computer. It's widely regarded as a solid solution for preventing ransomware. Its partnerships include CenturyLink Federal and AOL, as well as other organizations in the banking, ATM, and cloud sectors, and it was named Government Security News’ winner for the best anti-malware solution for 2014 . John Higginbotham, the CEO of Blue Ridge Networks, told Business Insider that there are “5 new types of malware every second hitting the marketplace” and AppGuard has the capability to “essentially prevent breaches – call it instant response without detection – for any of these forms of new malware.” Data Security - Cyber Crime - Hacking (www.perspecsys.com / Flickr) Stopping a hacker from stealing sensitive data in the cloud, in computers, online. But when you build an iron fortress, sometimes you can run into issues. In the case of AppGuard, the product offers “very robust protection,” as one avid user of the security forum malwaretips.com , HJLBX, told Business Insider via email. But because AppGuard “blocks all applications – safe, unsafe, and unknown,” essentially locking down a system, using “the interface can be tedious” depending on how you use your computer. Even XhenEd, another member of malwaretips.com community, who said he would recommend AppGuard above all others, said in an email it could be a “hassle sometimes” when it came to navigating the system and lowering security to run certain safe executable files. Striking a balance between security and usability has been a long standing issue when fighting malware in the cyberspace. After all, if it’s not user-friendly, why would anyone use it? But, as XhenEd put it: “Prevention is better than a cure.” What the FBI says to do There are a few other precautions you can take. The FBI and its Internet Crime Complaint Center (IC3) have similar recommendations to protect against ransomware: Use antivirus software and a firewall and keep them updated. Turn on automated updates for your OS and web browser. Enable popup blockers. Always backup your computer and store files offline. Be skeptical of websites, downloads, emails, or attachments that you are unfamiliar with. Use strong passwords and don’t use the same one for different accounts. Apply the same precautions you use on your desktop to your on your mobile phone. But once ransomware is in your system, there is little to nothing you can do. Even the FBI says you have pretty much three options : “revert to back up systems, contact a security professional, or pay." abandon hope (Kevin Dooley via Flickr) My father happened to be using an old work computer that didn’t have any real sentimental value to it. In his words: “The last thing I was gonna do was be ransomed by anybody for any amount.” And as he points out, there is no guarantee that will be the end of your relationship with your cyberattacker. There’s nothing stopping these criminals from attempting to extort money from you down the road or even that you will get your information back. Even when people do pay for the decryption key and receive it, there is no way to know if you’ll be able to completely decrypt your files. My father decided to “cut his losses” and just get a new computer, but he only had to give up a few meaningless pictures that were from his job. But what if his computer had contained pictures of my brother and I that had been misplaced in a move? Or the one digital copy of his now-deceased father playing his saxophone? What would you consider “cutting your losses,” and what would you give anything to get back? NOW WATCH: Here's the type of info hackers have after breaking into the extramarital hookup site Ashley Madison More From Business Insider A hacker has figured out how to hack into internet-connected kettles and steal passwords A scary new malware is on the rise — here's how to protect yourself TALKTALK HACKED: 4 million customers affected, stock plummeting, 'Russian jihadist hackers' claim responsibility View comments \|\| How to avoid the curse of ransomware — software that forces you to pay money to unlock your computer: (Christiaan Colen / Flickr) Criminals don’t need to kidnap humans to extort money out of individuals or organizations. They've found something that’s possibly just as valuable and can be much easier to obtain: your computer files. Ransomware – a form of malware that infects a computer and encrypts all its files – is nothing new. Since 1989, beginning withthe AIDS Trojan, which was distributed using floppy disks to attendees of the World Health Organization’s international AIDS conference, cyber criminals have been offering ultimatums to victims: pay the demanded ransom or lose your data forever. This malicious software has adapted seamlessly with technological advances and now spreads through infected programs, compromised websites, and email attachments. From the moment a victim clicks the infected mode of delivery, the virus begins encrypting everything on their computer, as Lee Danielson – who happens to be my father – discovered last year when his computer was hijacked by ransomware. In what he calls a “rotten luck and timing,” Danielson was scrolling through his inbox when he happened upon an email that claimed to be from Florida’s Broward County Clerk office, which said that it had information on his pending case. At the time, he happened to be fighting a parking ticket. While his “gut feeling” told him there was something odd about the government sending an email over a letter, he proceeded to do one thing that sends shivers down every cybersecurity expert’s spine: he opened the email attachment. Every file on Danielson’s computer was replaced with a ransom note explaining his files were no longer his and if he wanted them back, he’d have to follow the provided link where he could pay to get the key to unlock his files. His only thought? “Damn it. I’m screwed,” which was about the same advice he receivedfrom an IT expert he used for work, and Best Buy’s Geek Squad. Both essentially told him, “pay up or wipe your computer clean.” The ransom note even told him not to bother buying anti-malware software because his computer was beyond saving. This story is echoed by an ever-growing number of victims.Large and small enterprises, government organizations,average consumers, andeven police departmentshave all been either forced to give in to the ransomware authors demands or lose everything. Most ransoms are between $200 and $10,000, and they're often paid through cryptocurrency Bitcoin. The most prevalent ransomware, CryptoWall,cost victims around $18 millionfrom April 2014 to June 2015, the FBI says. And the problem is only expected to get worse. But there are resources out there meant to stop these attacks as they happen. One example isBlue Ridge Networks’ AppGuard, which isdesigned to stop both known and unknown malware from ever making its way onto your computer. It's widely regarded as a solid solution for preventing ransomware.Its partnerships includeCenturyLink Federal and AOL, as well as other organizations in the banking, ATM, and cloud sectors, and it was namedGovernment Security News’ winner for the best anti-malware solution for 2014. John Higginbotham, the CEO of Blue Ridge Networks, told Business Insider that there are “5 new types of malware every second hitting the marketplace” and AppGuard has the capability to “essentially prevent breaches – call it instant response without detection – for any of these forms of new malware.” (www.perspecsys.com / Flickr)Stopping a hacker from stealing sensitive data in the cloud, in computers, online. But when you build an iron fortress, sometimes you can run into issues. In the case of AppGuard, the product offers “very robust protection,” as one avid user ofthe security forum malwaretips.com, HJLBX, told Business Insider via email. But because AppGuard “blocks all applications – safe, unsafe, and unknown,” essentially locking down a system, using “the interface can be tedious” depending on how you use your computer. Even XhenEd, another member of malwaretips.com community, who said he would recommend AppGuard above all others, said in an email it could be a “hassle sometimes” when it came to navigating the system and lowering security to run certain safe executable files. Striking a balance between security and usability has been along standingissuewhen fighting malware in the cyberspace. After all, if it’s not user-friendly, why would anyone use it? But, as XhenEd put it: “Prevention is better than a cure.” There are a few other precautions you can take. TheFBIand itsInternet Crime Complaint Center(IC3) have similar recommendations to protect against ransomware: • Use antivirus software and a firewall and keep them updated. • Turn on automated updates for your OS and web browser. • Enable popup blockers. • Always backup your computer and store files offline. • Be skeptical of websites, downloads, emails, or attachments that you are unfamiliar with. • Use strong passwords and don’t use the same one for different accounts. • Apply the same precautions you use on your desktop to your on your mobile phone. But once ransomware is in your system, there is little to nothing you can do. Even theFBI says you have pretty much three options: “revert to back up systems, contact a security professional, or pay." (Kevin Dooley via Flickr) My father happened to be using an old work computer that didn’t have any real sentimental value to it. In his words: “The last thing I was gonna do was be ransomed by anybody for any amount.” And as he points out, there is no guarantee that will be the end of your relationship with your cyberattacker. There’s nothing stopping these criminals from attempting to extort money from you down the road or even that you will get your information back. Even when people do pay for the decryption key and receive it, there is no way to know if you’ll be able to completely decrypt your files. My father decided to “cut his losses” and just get a new computer, but he only had to give up a few meaningless pictures that were from his job. But what if his computer had contained pictures of my brother and I that had been misplaced in a move? Or the one digital copy of his now-deceased father playing his saxophone? What would you consider “cutting your losses,” and what would you give anything to get back? NOW WATCH:Here's the type of info hackers have after breaking into the extramarital hookup site Ashley Madison More From Business Insider • A hacker has figured out how to hack into internet-connected kettles and steal passwords • A scary new malware is on the rise — here's how to protect yourself • TALKTALK HACKED: 4 million customers affected, stock plummeting, 'Russian jihadist hackers' claim responsibility \|\| Biting back: bitcoin heads for best month in 1-1/2 yrs: By Jemima Kelly LONDON (Reuters) - Bitcoin has just recorded its best month since May 2014, stealing the spotlight away from the blockchain technology that underpins it and which has been attracting investment from almost every major bank in the world. An investor in bitcoin at the start of October would have enjoyed a return of over 36 percent, dwarfing the return of about 2 percent that the dollar racked up for its holders. The web-based currency surged to its highest this year on Friday, hitting $334.05 on the Bitstamp exchange on its ninth successive day of gains, its best run in over two years. Bitcoin is used as a vehicle for moving money around the world quickly and anonymously via the web without the need for third-party verification. That has made it controversial, but also attractive, to users ranging from drug dealers to those trying to circumvent capital controls in Greece and China. Some bitcoin traders speculate that the latter might be partly responsible for the digital currency's latest surge. Most trading in the past month has come from Chinese bitcoin exchanges, according to Bitcoinity.org, though the accuracy of the Chinese exchanges' data is questioned. "At a time of central bank currency devaluations, direct and indirect, and with gold's directionless behaviour over the last two years ... bitcoin is increasingly viewed and marketed as a possible investable vehicle," said London-based trader Ashraf Laidi, who invests in both fiat currencies and bitcoin. Bitcoin is often dismissed as too volatile to invest in, having soared towards $1,200 in late 2013 before sliding to below $400 less than a month later, but it has stabilised this year. "What I'm happy about so far is that the price run-up hasn't been overly dramatic or disorganised," said Peter Smith, CEO of Blockchain, a bitcoin "wallet" or storage provider, which shares its name with the technology. EU RULING Last week the European Union's top court ruled that bitcoin should be treated like any other means of payment and therefore be exempt from value-added tax - a decision many in the industry say helped push up bitcoin's price. "It just makes bitcoin a lot more usable as a currency in Europe and also provides a lot of clarity to people who are speculating and trading in it," said Tom Robinson, co-founder of London-based bitcoin storage firm Elliptic. Another reason for the price surge might be that bitcoin supply is set to grow more slowly. The blockchain is secured by a network of computers that compete with each other to solve mathematical problems for a reward. That is currently 25 bitcoins every 10 minutes, but that will be halved to 12.5 bitcoins next year. In the same way that scaling back quantitative easing would prop up a traditional fiat currency, bitcoin could be boosted by the conventional economics of supply and demand. Although many say the technology behind bitcoin holds more potential than bitcoin itself and can function without it, bitcoiners argue that the blockchain supporting the currency is the only one to have been properly tested. An increased focus on the technology is helping prop up the price, they say. "The idea of blockchain and bitcoin are completely inseparable," said Michael Sonnenshein, a former JPMorgan banker who is now head of business development at Grayscale Investments, a New York-based bitcoin investment firm. "The blockchain is only as secure and as powerful as it is because there is this constant movement of tokens (bitcoins) on the blockchain." (Reporting by Jemima Kelly; Editing by Tom Heneghan) \|\| Biting back: bitcoin heads for best month in 1-1/2 yrs: By Jemima Kelly LONDON (Reuters) - Bitcoin has just recorded its best month since May 2014, stealing the spotlight away from the blockchain technology that underpins it and which has been attracting investment from almost every major bank in the world. An investor in bitcoin at the start of October would have enjoyed a return of over 36 percent, dwarfing the return of about 2 percent that the dollar racked up for its holders. The web-based currency surged to its highest this year on Friday, hitting $334.05 on the Bitstamp exchange on its ninth successive day of gains, its best run in over two years. Bitcoin is used as a vehicle for moving money around the world quickly and anonymously via the web without the need for third-party verification. That has made it controversial, but also attractive, to users ranging from drug dealers to those trying to circumvent capital controls in Greece and China. Some bitcoin traders speculate that the latter might be partly responsible for the digital currency's latest surge. Most trading in the past month has come from Chinese bitcoin exchanges, according to Bitcoinity.org, though the accuracy of the Chinese exchanges' data is questioned. "At a time of central bank currency devaluations, direct and indirect, and with gold's directionless behaviour over the last two years ... bitcoin is increasingly viewed and marketed as a possible investable vehicle," said London-based trader Ashraf Laidi, who invests in both fiat currencies and bitcoin. Bitcoin is often dismissed as too volatile to invest in, having soared towards $1,200 in late 2013 before sliding to below $400 less than a month later, but it has stabilised this year. "What I'm happy about so far is that the price run-up hasn't been overly dramatic or disorganised," said Peter Smith, CEO of Blockchain, a bitcoin "wallet" or storage provider, which shares its name with the technology. EU RULING Last week the European Union's top court ruled that bitcoin should be treated like any other means of payment and therefore be exempt from value-added tax - a decision many in the industry say helped push up bitcoin's price. "It just makes bitcoin a lot more usable as a currency in Europe and also provides a lot of clarity to people who are speculating and trading in it," said Tom Robinson, co-founder of London-based bitcoin storage firm Elliptic. Another reason for the price surge might be that bitcoin supply is set to grow more slowly. The blockchain is secured by a network of computers that compete with each other to solve mathematical problems for a reward. That is currently 25 bitcoins every 10 minutes, but that will be halved to 12.5 bitcoins next year. In the same way that scaling back quantitative easing would prop up a traditional fiat currency, bitcoin could be boosted by the conventional economics of supply and demand. Although many say the technology behind bitcoin holds more potential than bitcoin itself and can function without it, bitcoiners argue that the blockchain supporting the currency is the only one to have been properly tested. An increased focus on the technology is helping prop up the price, they say. "The idea of blockchain and bitcoin are completely inseparable," said Michael Sonnenshein, a former JPMorgan banker who is now head of business development at Grayscale Investments, a New York-based bitcoin investment firm. "The blockchain is only as secure and as powerful as it is because there is this constant movement of tokens (bitcoins) on the blockchain." (Reporting by Jemima Kelly; Editing by Tom Heneghan) \|\| MarilynJean Interactive (MJMI.QB) Today Announced It Has Entered Into Discussions to Acquire a Share of an Operating Bitcoin Exchange: HENDERSON, NV / ACCESSWIRE / October 30, 2015 / Owning and operating a Bitcoin exchange would allow MarilynJean to seamlessly integrate the currency conversion functions of both its planned remittance and gaming businesses as well as integrate directly with any Bitcoin ATM's the company installs. A Bitcoin exchange is the central component to a fully integrated transaction with an end user that involves both FIAT (traditional currency) and crypto-currency. A Bitcoin exchange works similarly to a stock exchange. A client deposits funds into an account and effects trades pursuant to buy (bid) or sell (ask) orders which the exchange software matches with orders from other users. Because both the buyer and seller must have the funds or Bitcoins in their accounts prior to the transaction being executed, both sides are protected. Users trade directly, as opposed to through brokers, communicating with the exchange through a standard web browser on a computer or mobile device via a secure connection. The exchange operator often takes a small transaction fee on each trade. While MarilynJean intends to trade through multiple exchanges, including major exchanges Bitstamp and Bitfinex, the reduced settlement times that are available as an exchange owner-operator provide significant advantages in international currency conversion and transfer transactions. Peter Janosi, MJMI's president said: "Being able to integrate the key verticals we are targeting, including remittance, gaming and ATMs with our own Bitcoin exchange has the potential to offer tremendous advantages to our company. We intend to trade through multiple exchanges simultaneously to ensure we offer our customers the best rates at the lowest prices. At the same time time, being able to route transactions through a completely integrated system that we monitor and control will allow us to offer even faster transaction processing and better customer service. We are very excited to be in discussions with a potential partner in the exchange space who shares our focus on security and scalability." Story continues About MJMI MJMI is in the business of providing safe and accessible services for the users of Bitcoin and other crypto-currencies. Crypto-currencies are a medium of exchange using cryptography to secure transactions and control the creation of new units. Bitcoin became the first decentralized crypto-currency in 2009. Crypto-currency is produced at a rate which is defined when the system is created and publicly known. By contrast, in centralized banking and economic systems, such as the Federal Reserve System, corporate boards or governments control the supply of currency by printing units or demanding additions to digital banking ledgers. However, neither companies nor governments can produce units of crypto-currency and as such the value of crypto-currencies are completely based on supply and demand, free from any governmental control. Many people believe crypto-currencies, and in particular bitcoin, hold the promise of being the most significant advancement in global finance in modern history. The advent of bitcoin creates a secure, easily accessible and transferable transnational currency that is completely liberated from political influence. MJMI is currently exploring partnerships in several verticals within the crypto-currency space, including the multi-billion dollar remittance market. Management believes that several industries, including both international remittances and online gambling are on the verge of being revolutionized by the use of Bitcoin to effect transactions. MarilynJean Media Interactive is among the first publicly traded companies focused on bitcoin and the crypto-currency space. The company's trading symbol is OCTQB: MJMI. Website: www.marilynjean.com Press Contact: bonnie@mari lynjean.com SOURCE: MarilynJean Media Interactive \|\| MarilynJean Interactive (MJMI.QB) Today Announced It Has Entered Into Discussions to Acquire a Share of an Operating Bitcoin Exchange: HENDERSON, NV / ACCESSWIRE / October 30, 2015 / Owning and operating a Bitcoin exchange would allow MarilynJean to seamlessly integrate the currency conversion functions of both its planned remittance and gaming businesses as well as integrate directly with any Bitcoin ATM's the company installs. A Bitcoin exchange is the central component to a fully integrated transaction with an end user that involves both FIAT (traditional currency) and crypto-currency. A Bitcoin exchange works similarly to a stock exchange. A client deposits funds into an account and effects trades pursuant to buy (bid) or sell (ask) orders which the exchange software matches with orders from other users. Because both the buyer and seller must have the funds or Bitcoins in their accounts prior to the transaction being executed, both sides are protected. Users trade directly, as opposed to through brokers, communicating with the exchange through a standard web browser on a computer or mobile device via a secure connection. The exchange operator often takes a small transaction fee on each trade. While MarilynJean intends to trade through multiple exchanges, including major exchanges Bitstamp and Bitfinex, the reduced settlement times that are available as an exchange owner-operator provide significant advantages in international currency conversion and transfer transactions. Peter Janosi, MJMI's president said: "Being able to integrate the key verticals we are targeting, including remittance, gaming and ATMs with our own Bitcoin exchange has the potential to offer tremendous advantages to our company. We intend to trade through multiple exchanges simultaneously to ensure we offer our customers the best rates at the lowest prices. At the same time time, being able to route transactions through a completely integrated system that we monitor and control will allow us to offer even faster transaction processing and better customer service. We are very excited to be in discussions with a potential partner in the exchange space who shares our focus on security and scalability." Story continues About MJMI MJMI is in the business of providing safe and accessible services for the users of Bitcoin and other crypto-currencies. Crypto-currencies are a medium of exchange using cryptography to secure transactions and control the creation of new units. Bitcoin became the first decentralized crypto-currency in 2009. Crypto-currency is produced at a rate which is defined when the system is created and publicly known. By contrast, in centralized banking and economic systems, such as the Federal Reserve System, corporate boards or governments control the supply of currency by printing units or demanding additions to digital banking ledgers. However, neither companies nor governments can produce units of crypto-currency and as such the value of crypto-currencies are completely based on supply and demand, free from any governmental control. Many people believe crypto-currencies, and in particular bitcoin, hold the promise of being the most significant advancement in global finance in modern history. The advent of bitcoin creates a secure, easily accessible and transferable transnational currency that is completely liberated from political influence. MJMI is currently exploring partnerships in several verticals within the crypto-currency space, including the multi-billion dollar remittance market. Management believes that several industries, including both international remittances and online gambling are on the verge of being revolutionized by the use of Bitcoin to effect transactions. MarilynJean Media Interactive is among the first publicly traded companies focused on bitcoin and the crypto-currency space. The company's trading symbol is OCTQB: MJMI. Website: www.marilynjean.com Press Contact: bonnie@mari lynjean.com SOURCE: MarilynJean Media Interactive \|\| MarilynJean Interactive (MJMI.QB) Today Announced It Has Entered Into Discussions to Acquire a Share of an Operating Bitcoin Exchange: HENDERSON, NV / ACCESSWIRE / October 30, 2015 / Owning and operating a Bitcoin exchange would allow MarilynJean to seamlessly integrate the currency conversion functions of both its planned remittance and gaming businesses as well as integrate directly with any Bitcoin ATM's the company installs. A Bitcoin exchange is the central component to a fully integrated transaction with an end user that involves both FIAT (traditional currency) and crypto-currency. A Bitcoin exchange works similarly to a stock exchange. A client deposits funds into an account and effects trades pursuant to buy (bid) or sell (ask) orders which the exchange software matches with orders from other users. Because both the buyer and seller must have the funds or Bitcoins in their accounts prior to the transaction being executed, both sides are protected. Users trade directly, as opposed to through brokers, communicating with the exchange through a standard web browser on a computer or mobile device via a secure connection. The exchange operator often takes a small transaction fee on each trade. While MarilynJean intends to trade through multiple exchanges, including major exchanges Bitstamp and Bitfinex, the reduced settlement times that are available as an exchange owner-operator provide significant advantages in international currency conversion and transfer transactions. Peter Janosi, MJMI's president said: "Being able to integrate the key verticals we are targeting, including remittance, gaming and ATMs with our own Bitcoin exchange has the potential to offer tremendous advantages to our company. We intend to trade through multiple exchanges simultaneously to ensure we offer our customers the best rates at the lowest prices. At the same time time, being able to route transactions through a completely integrated system that we monitor and control will allow us to offer even faster transaction processing and better customer service. We are very excited to be in discussions with a potential partner in the exchange space who shares our focus on security and scalability." Story continues About MJMI MJMI is in the business of providing safe and accessible services for the users of Bitcoin and other crypto-currencies. Crypto-currencies are a medium of exchange using cryptography to secure transactions and control the creation of new units. Bitcoin became the first decentralized crypto-currency in 2009. Crypto-currency is produced at a rate which is defined when the system is created and publicly known. By contrast, in centralized banking and economic systems, such as the Federal Reserve System, corporate boards or governments control the supply of currency by printing units or demanding additions to digital banking ledgers. However, neither companies nor governments can produce units of crypto-currency and as such the value of crypto-currencies are completely based on supply and demand, free from any governmental control. Many people believe crypto-currencies, and in particular bitcoin, hold the promise of being the most significant advancement in global finance in modern history. The advent of bitcoin creates a secure, easily accessible and transferable transnational currency that is completely liberated from political influence. MJMI is currently exploring partnerships in several verticals within the crypto-currency space, including the multi-billion dollar remittance market. Management believes that several industries, including both international remittances and online gambling are on the verge of being revolutionized by the use of Bitcoin to effect transactions. MarilynJean Media Interactive is among the first publicly traded companies focused on bitcoin and the crypto-currency space. The company's trading symbol is OCTQB: MJMI. Website: www.marilynjean.com Press Contact: bonnie@mari lynjean.com SOURCE: MarilynJean Media Interactive \|\| Cryptocurrency Trader Launches Super Deal for Bitcoin Sellers: WILMINGTON, DE--(Marketwired - October 28, 2015) -Miners Center Inc. (www.minerscenter.com) is now offering 12% to 13% above the market value for Bitcoin, and now is the time to take advantage. With the rise in popularity of Bitcoin commerce, many online firms are finding creative new ways to take advantage of this valuable virtual resource. However, none are more market-savvy than Miners Center, an up-and-coming financial world star that is taking e-commerce by storm. For those not in the know, Bitcoin is the premier virtual currency that is being used online for a variety of purposes, including electronics purchases, travel, and a growing number of online businesses. It allows spenders to take advantage of the convenience and flexibility of online currency, invest, and grow their finances in a totally new way. Miners Center is offering unprecedented returns on user investments with their new offer. Emilian Tourey, the CEO of Miners Center, commented: "We are happy that with this promotional offer we will be able to help the Bitcoin community. By riding on this next wave of digital technology, we hope to become a major leader of the Bitcoin community, and offer exceptional deals for all Bitcoin purchases. It's about staying in-step with the times, and we know that Bitcoin is a wise investment and are confident that it can take us to the top." A visit towww.minerscenter.comreveals a cleanly-designed website that is easy to use, making Bitcoin transactions quick and easy. Users only need to enter their email address, and bank or PayPal information and they will be ready to take advantage of this new promotional offer. Aside from the main page, they also offer a news section and frequently asked questions, which can help new users discover the relevance and importance of Bitcoin, and the subtleties of the trading process. Any further questions on the website can be answered in real time by staff. Rates are updated constantly, following current market trends, for the most accurate information. Combined with knowledgeable staff and a regularly updated news page, this gives Miners Center the edge over competitors in the field by offering a depth of market knowledge that is unrivaled. Miners Center is currently purchasing Bitcoins so any interested sellers should visit their website as soon as possible for the best deals. For more information, visit,www.minerscenter.com. Image Available:http://www.marketwire.com/library/MwGo/2015/10/28/11G069537/Images/Bitcoin-648633992982.jpg \|\| Cryptocurrency Trader Launches Super Deal for Bitcoin Sellers: WILMINGTON, DE--(Marketwired - October 28, 2015) -Miners Center Inc. (www.minerscenter.com) is now offering 12% to 13% above the market value for Bitcoin, and now is the time to take advantage. With the rise in popularity of Bitcoin commerce, many online firms are finding creative new ways to take advantage of this valuable virtual resource. However, none are more market-savvy than Miners Center, an up-and-coming financial world star that is taking e-commerce by storm. For those not in the know, Bitcoin is the premier virtual currency that is being used online for a variety of purposes, including electronics purchases, travel, and a growing number of online businesses. It allows spenders to take advantage of the convenience and flexibility of online currency, invest, and grow their finances in a totally new way. Miners Center is offering unprecedented returns on user investments with their new offer. Emilian Tourey, the CEO of Miners Center, commented: "We are happy that with this promotional offer we will be able to help the Bitcoin community. By riding on this next wave of digital technology, we hope to become a major leader of the Bitcoin community, and offer exceptional deals for all Bitcoin purchases. It's about staying in-step with the times, and we know that Bitcoin is a wise investment and are confident that it can take us to the top." A visit towww.minerscenter.comreveals a cleanly-designed website that is easy to use, making Bitcoin transactions quick and easy. Users only need to enter their email address, and bank or PayPal information and they will be ready to take advantage of this new promotional offer. Aside from the main page, they also offer a news section and frequently asked questions, which can help new users discover the relevance and importance of Bitcoin, and the subtleties of the trading process. Any further questions on the website can be answered in real time by staff. Rates are updated constantly, following current market trends, for the most accurate information. Combined with knowledgeable staff and a regularly updated news page, this gives Miners Center the edge over competitors in the field by offering a depth of market knowledge that is unrivaled. Miners Center is currently purchasing Bitcoins so any interested sellers should visit their website as soon as possible for the best deals. For more information, visit,www.minerscenter.com. Image Available:http://www.marketwire.com/library/MwGo/2015/10/28/11G069537/Images/Bitcoin-648633992982.jpg \|\| Cryptocurrency Trader Launches Super Deal for Bitcoin Sellers: WILMINGTON, DE --(Marketwired - October 28, 2015) - Miners Center Inc. ( www.minerscenter.com ) is now offering 12% to 13% above the market value for Bitcoin, and now is the time to take advantage. With the rise in popularity of Bitcoin commerce, many online firms are finding creative new ways to take advantage of this valuable virtual resource. However, none are more market-savvy than Miners Center, an up-and-coming financial world star that is taking e-commerce by storm. For those not in the know, Bitcoin is the premier virtual currency that is being used online for a variety of purposes, including electronics purchases, travel, and a growing number of online businesses. It allows spenders to take advantage of the convenience and flexibility of online currency, invest, and grow their finances in a totally new way. Miners Center is offering unprecedented returns on user investments with their new offer. Emilian Tourey, the CEO of Miners Center, commented: "We are happy that with this promotional offer we will be able to help the Bitcoin community. By riding on this next wave of digital technology, we hope to become a major leader of the Bitcoin community, and offer exceptional deals for all Bitcoin purchases. It's about staying in-step with the times, and we know that Bitcoin is a wise investment and are confident that it can take us to the top." A visit to www.minerscenter.com reveals a cleanly-designed website that is easy to use, making Bitcoin transactions quick and easy. Users only need to enter their email address, and bank or PayPal information and they will be ready to take advantage of this new promotional offer. Aside from the main page, they also offer a news section and frequently asked questions, which can help new users discover the relevance and importance of Bitcoin, and the subtleties of the trading process. Any further questions on the website can be answered in real time by staff. Rates are updated constantly, following current market trends, for the most accurate information. Combined with knowledgeable staff and a regularly updated news page, this gives Miners Center the edge over competitors in the field by offering a depth of market knowledge that is unrivaled. Miners Center is currently purchasing Bitcoins so any interested sellers should visit their website as soon as possible for the best deals. For more information, visit, www.minerscenter.com . Image Available: http://www.marketwire.com/library/MwGo/2015/10/28/11G069537/Images/Bitcoin-648633992982.jpg \|\| NatGas Investing Not For Faint Of Heart: Commodities have been doing horribly; that's not news to anyone. But in a space where prices have continually sunk to new lows across the board, one commodity has managed to outdo them all―natural gas. The worst-performing commodity of the year, natural gas, is down 30 percent in 2015. Due to the ill effects of roll costs from contango, the United States Natural Gas Fund (UNG \| B-94) has done even worse, losing 35 percent of its value. At the same time, equities tied to natural gas have been decimated year-to-date, with the First Trust ISE-Revere Natural Gas ETF (FCG \| B-95) losing a whopping 46 percent. YTD Returns For Natural Gas Futures, UNG, FCG Unrelenting Production Growth The problem for natural gas is simply that the country has too much of it. Despite the fact that prices are close to the lowest levels in more than a decade below $2/mmbtu, production hasn't flinched. According to the latest data from the Energy Information Administration, output in the U.S. stood at a near-record 81.7 billion cubic feet/day as of last week, up 3 percent from a year ago. U.S. Lower 48 Natural Gas Production (bcf/d) To many, that statistic is confounding. Drilling activity in the energy patch collapsed during the past year due to the simultaneous decline in oil and natural gas prices. Surely that would impact production. At least for oil, it is having an impact. Output of crude in the U.S. is down more than 5 percent from its peak levels. For natural gas, the story is obviously very different. Large natural gas producers like Range Resources and Southwestern Energy continue to report all-time-high production levels, while calling for more growth in the future. The only takeaway is that the marginal cost of natural gas production is much lower than anyone had imagined. Demand Disappoints On the other side of equation is demand, and it's been somewhat disappointing. Industrial demand is actually down marginally this year in spite of the growing economy. Story continues On the other hand, electric power demand has surged, rising nearly 20 percent year-over-year through July. However, the increase is a reflection of significant amounts of coal-to-gas switching and not something that will be repeated year after year. Because natural gas prices are currently so low, when possible, utilities have switched from burning coal to burning gas. The move has decimated the coal industry, which simply can't compete with relatively clean and abundant natural gas. The largest coal producers in the U.S., such as Peabody Energy and Arch Coal, are all on the verge of bankruptcy, with stock prices close to zero. (Incidentally, the two ETFs tied to the coal industry have held up better than one might expect thanks to their international exposure. The Market Vectors Coal ETF (KOL \| C-5) , which holds coal producers from around the world, is down only 41 percent this year, while the GreenHaven Coal ETF (TONS \| F) , which holds European coal futures contracts, is down 17.3 percent.) YTD Returns For BTU, ACI, KOL, TONS Most of the short-term switching that can be done from coal to gas has already been done. Going forward, natural gas will likely continue to take market share from coal, but at a slower pace. Inventories Bloated The combination of robust supply and a mixed demand picture has kept upside pressure on natural gas inventories. As of last week, stockpiles stood at 3,814 billion cubic feet, 12 percent higher than last year. From a seasonal perspective, inventories tend to peak around early November before steadily declining through March as the winter-heating season boosts demand. However, with weather forecasts calling for warmer-than-normal temperatures for the next couple of weeks, inventory builds could continue for a while longer. It's very likely that in the coming weeks, stockpiles will surpass the record-high of 3,929 bcf set in 2012. Long-Term Exports & Demand Given this dismal outlook for natural gas, is there any hope of a turnaround in the future? Probably not in the short term. Longer term, it's possible, but that hinges on a few factors. Any recovery will have to come from the demand side, because it certainly doesn't look like supply will be slowing down anytime soon. The biggest area of potential gains is in the electric power segment and the liquid-natural-gas export segment. As stated previously, increases in demand for power generation will be smaller than they were this year, but that's a steady source of growth that is likely to continue as utilities transition from dirty coal toward cleaner natural gas. Meanwhile, the U.S. market may get some supply relief as other countries take some of this abundant resource off its hands. In January, Cheniere Energy plans to ship its first cargoes of liquefied natural gas, kicking off a new era of U.S. natural gas exports. This is a sharp reversal from years past when the U.S. was a net importer of the fuel. From current levels around zero, exports may rise to 8.5 billion cubic feet per day by 2019, according to Charles Blanchard, an analyst at Bloomberg New Energy Finance. That represents about 10 percent of current production, and in combination with demand gains in the power sector, could be enough to fuel a meaningful rebound in prices. Playing The Bounce If that happens, natural gas equities will surely follow suit―though it could take a few years for this bullish scenario to develop. The aforementioned FCG, an equal-weighted exchange-traded fund comprising natural gas producers, is the best pure-play ETF on the market. With a basket of equities, an investor doesn't have to contend with the hazards of holding futures, which will take a big bite out of an ETF’s returns like UNG over longer time periods. FCG could certainly decline further from here―it's been a falling knife until now. In a worst-case scenario, the natural gas market could remain mired at low levels for years, as it did in the 1990s. That's the risk an investor has to contend with. But buying into one of the most hated commodities in the market is a high-risk/high-reward bet, best suited for only the most daring investors. Contact Sumit Roy at [email protected] . Recommended Stories High MLP Yields Depend On Oil 2016 Oil: What's In Store? Gundlach: Sell Junk Bonds, Buy India Bitcoin Rally Benefiting ETFs NatGas Investing Not For Faint Of Heart Permalink \| © Copyright 2015 ETF.com. All rights reserved \|\| NatGas Investing Not For Faint Of Heart: Commodities have been doing horribly; that's not news to anyone. But in a space where prices have continually sunk to new lows across the board, one commodity has managed to outdo them all―natural gas. The worst-performing commodity of the year, natural gas, is down 30 percent in 2015. Due to the ill effects of roll costs from contango, theUnited States Natural Gas Fund (UNG \| B-94)has done even worse, losing 35 percent of its value. At the same time, equities tied to natural gas have been decimated year-to-date, with theFirst Trust ISE-Revere Natural Gas ETF (FCG \| B-95)losing a whopping 46 percent. YTD Returns For Natural Gas Futures, UNG, FCG Unrelenting Production Growth The problem for natural gas is simply that the country has too much of it. Despite the fact that prices are close to the lowest levels in more than a decade below $2/mmbtu, production hasn't flinched. According to the latest data from the Energy Information Administration, output in the U.S. stood at a near-record 81.7 billion cubic feet/day as of last week, up 3 percent from a year ago. U.S. Lower 48 Natural Gas Production (bcf/d) To many, that statistic is confounding. Drilling activity in the energy patch collapsed during the past year due to the simultaneous decline in oil and natural gas prices. Surely that would impact production. At least for oil, it is having an impact. Output of crude in the U.S. is down more than 5 percent from its peak levels. For natural gas, the story is obviously very different. Large natural gas producers like Range Resources and Southwestern Energy continue to report all-time-high production levels, while calling for more growth in the future. The only takeaway is that the marginal cost of natural gas production is much lower than anyone had imagined. Demand Disappoints On the other side of equation is demand, and it's been somewhat disappointing. Industrial demand is actually down marginally this year in spite of the growing economy. On the other hand, electric power demand has surged, rising nearly 20 percent year-over-year through July. However, the increase is a reflection of significant amounts of coal-to-gas switching and not something that will be repeated year after year. Because natural gas prices are currently so low, when possible, utilities have switched from burning coal to burning gas. The move has decimated the coal industry, which simply can't compete with relatively clean and abundant natural gas. The largest coal producers in the U.S., such as Peabody Energy and Arch Coal, are all on the verge of bankruptcy, with stock prices close to zero. (Incidentally, the two ETFs tied to the coal industry have held up better than one might expect thanks to their international exposure. TheMarket Vectors Coal ETF (KOL \| C-5), which holds coal producers from around the world, is downonly41 percent this year, while theGreenHaven Coal ETF (TONS \| F), which holds European coal futures contracts, is down 17.3 percent.) YTD Returns For BTU, ACI, KOL, TONS Most of the short-term switching that can be done from coal to gas has already been done. Going forward, natural gas will likely continue to take market share from coal, but at a slower pace. Inventories Bloated The combination of robust supply and a mixed demand picture has kept upside pressure on natural gas inventories. As of last week, stockpiles stood at 3,814 billion cubic feet, 12 percent higher than last year. From a seasonal perspective, inventories tend to peak around early November before steadily declining through March as the winter-heating season boosts demand. However, with weather forecasts calling for warmer-than-normal temperatures for the next couple of weeks, inventory builds could continue for a while longer. It's very likely that in the coming weeks, stockpiles will surpass the record-high of 3,929 bcf set in 2012. Long-Term Exports & DemandGiven this dismal outlook for natural gas, is there any hope of a turnaround in the future? Probably not in the short term. Longer term, it's possible, but that hinges on a few factors. Any recovery will have to come from the demand side, because it certainly doesn't look like supply will be slowing down anytime soon. The biggest area of potential gains is in the electric power segment and the liquid-natural-gas export segment. As stated previously, increases in demand for power generation will be smaller than they were this year, but that's a steady source of growth that is likely to continue as utilities transition from dirty coal toward cleaner natural gas. Meanwhile, the U.S. market may get some supply relief as other countries take some of this abundant resource off its hands. In January, Cheniere Energy plans to ship its first cargoes of liquefied natural gas, kicking off a new era of U.S. natural gas exports. This is a sharp reversal from years past when the U.S. was a net importer of the fuel. From current levels around zero, exports may rise to 8.5 billion cubic feet per day by 2019, according to Charles Blanchard, an analyst at Bloomberg New Energy Finance. That represents about 10 percent of current production, and in combination with demand gains in the power sector, could be enough to fuel a meaningful rebound in prices. Playing The Bounce If that happens, natural gas equities will surely follow suit―though it could take a few years for this bullish scenario to develop. The aforementioned FCG, an equal-weighted exchange-traded fund comprising natural gas producers, is the best pure-play ETF on the market. With a basket of equities, an investor doesn't have to contend with the hazards of holding futures, which will take a big bite out of an ETF’s returns like UNG over longer time periods. FCG could certainly decline further from here―it's been a falling knife until now. In a worst-case scenario, the natural gas market could remain mired at low levels for years, as it did in the 1990s. That's the risk an investor has to contend with. But buying into one of the most hated commodities in the market is a high-risk/high-reward bet, best suited for only the most daring investors. Contact Sumit Roy [email protected]. Recommended Stories • High MLP Yields Depend On Oil • 2016 Oil: What's In Store? • Gundlach: Sell Junk Bonds, Buy India • Bitcoin Rally Benefiting ETFs • NatGas Investing Not For Faint Of Heart Permalink\| © Copyright 2015ETF.com.All rights reserved \|\| Consumer growth lagging as mobile payments battle rages on: The battle over the future of consumer payments raged on at the Money 20/20 conference in Las Vegas this week, just without consumers, most of whom seem quite content to keep swiping their credit cards or handing over cash instead of adopting the latest in mobile payment technology. JPMorgan Chase ( JPM ) announced that it would offer its own smartphone-based payments service to compete head on with Apple ( AAPL ), Google ( GOOGL ), Samsung and others. Scheduled to arrive in the middle of next year, Chase Pay will be available for all 94 million of the bank's credit and debit card customers. And Chase has signed on a huge array of retailers -- from Walmart ( WMT ) to CVS Health ( CVS ) and Target ( TGT ) — that haven't supported other programs. Samsung said 14 more banks had joined its payments service including Chase, SunTrust Banks ( STI ) and PNC Financial Services ( PNC ). It didn't disclose how many U.S. customers had signed up for the service in its first month but said participating consumers made an average of eight transactions. The company said three out of four transactions used Samsung's unique magnetic secure transmission, or MST, technology, which works at almost any checkout terminal by mimicking an ordinary credit card swipe. "We are seeing early signs of customer adoption and we are very, very encouraged by that," Thomas Ko, general manager of Samsung Pay, told the conference on Wednesday. Apple didn't speak at the conference. Meanwhile, Sridhar Ramaswamy, senior vice president at Google overseeing Android Pay, offered few details on the early performance of that service, revealing only that "millions" of users have signed up for Android Pay since the program launched Sept. 10. When it comes to convenince, cash and credit rule Despite all the talk of mobile payments, consumers are still sticking with their more traditional forms of payment. Two thirds of consumers used cash on a daily basis, 59% used a debit card and 50% used a credit card, according to a survey by Accenture. Only 8% said they used Apple Pay or Google Pay, the prior name of Android Pay, "regularly," while 16% said they used PayPal. Story continues Less than 1% of transactions used Apple Pay at American Eagle Outfitters ( AEO ), an early Apple supporter, Joe Megibow, American Eagle's chief digital officer, revealed on Monday. The reasons are fairly obvious — cash and credit cards are quick and convenient ways to pay that are accepted almost everywhere. Some mobile payments systems work only at a small fraction of all stores, others work with only certain credit cards and none are as convenient as a traditional credit card yet. "We're still plagued by how is this really different in the end from plastic," Greg Weed, director of research at Phoenix Marketing, said. Asked what they'd like to see added to mobile payments services, 64% of consumers said they want to be able to redeem loyalty or rewards program points at the time of purchase, Weed said. And 52% said they wanted the ability to view discounts and deals while at a specific store. All of the announced services have pledged to include loyalty and rewards programs but very few have been offered so far. Consumers are "looking for something beyond the digitization of the swipe," Brian Mooney, CEO of the Merchant Customer Exchange, said. The three year old group, formed by leading retailers, is piloting its own payments app, called CurrentC, which intends to integrate loyalty and rewards programs. Mooney didn't say when the long-delayed service would be generally available but the group is also partnering with Chase's new service. The evolution of Bitcoin Amid all the excitement around digital payments, there was still plenty of talk about the financial world's favorite cryptocurrency, bitcoin. But unlike past years, entrepreneurs are now focused less on bitcoin as a replacement for buying and selling goods and more on the digital currency's infrastructure for securely recording all kinds of dealings. Every bitcoin transaction is recorded in a public ledger known as the blockchain. Nasdaq ( NDAQ ) announced that its pilot using the blockchain to record private stock transactions was a success . The exchange said it had signed up six clients, including messaging service Tango and data security specialist Vera, to use the transaction system as the basis for actual private trades in their shares. Some entrepreneurs are looking to add considerably more transactions onto the block chain, particularly the trillions of dollars per day of trades in public stocks and bonds. The current system makes traders wait three days for transactions to formally settle, but some at the Money conference said a blockchain-based solution could complete deals in a fraction of the time and with improved security and transparency. Three day settlement is "silly, it's downright dumb," famed venture capitalist Vinod Kholsa, who has backed numerous financial technology and bitcoin related start ups, said. \|\| Consumer growth lagging as mobile payments battle rages on: The battle over the future of consumer payments raged on at the Money 20/20 conference in Las Vegas this week, just without consumers, most of whom seem quite content to keep swiping their credit cards or handing over cash instead of adopting the latest in mobile payment technology. JPMorgan Chase (JPM) announced thatit would offer its own smartphone-based payments serviceto compete head on with Apple (AAPL), Google (GOOGL), Samsung and others. Scheduled to arrive in the middle of next year, Chase Pay will be available for all 94 million of the bank's credit and debit card customers. And Chase has signed on a huge array of retailers -- from Walmart (WMT) to CVS Health (CVS) and Target (TGT) — that haven't supported other programs.Samsung said14 more banks had joined its payments serviceincluding Chase, SunTrust Banks (STI) and PNC Financial Services (PNC). It didn't disclose how many U.S. customers had signed up for the service in its first month but said participating consumers made an average of eight transactions. The company said three out of four transactions used Samsung's unique magnetic secure transmission, or MST, technology, which works at almost any checkout terminal by mimicking an ordinary credit card swipe. "We are seeing early signs of customer adoption and we are very, very encouraged by that," Thomas Ko, general manager of Samsung Pay, told the conference on Wednesday.Apple didn't speak at the conference. Meanwhile, Sridhar Ramaswamy, senior vice president at Google overseeing Android Pay, offered few details on the early performance of that service, revealing only that "millions" of users have signed up for Android Pay since the program launched Sept. 10. When it comes to convenince, cash and credit ruleDespite all the talk of mobile payments, consumers are still sticking with their more traditional forms of payment. Two thirds of consumers used cash on a daily basis, 59% used a debit card and 50% used a credit card, according to a survey by Accenture. Only 8% said they used Apple Pay or Google Pay, the prior name of Android Pay, "regularly," while 16% said they used PayPal. Less than 1% of transactions used Apple Payat American Eagle Outfitters (AEO), an early Apple supporter, Joe Megibow, American Eagle's chief digital officer, revealed on Monday.The reasons are fairly obvious — cash and credit cards are quick and convenient ways to pay that are accepted almost everywhere. Some mobile payments systems work only at a small fraction of all stores, others work with only certain credit cards and none are as convenient as a traditional credit card yet. "We're still plagued by how is this really different in the end from plastic," Greg Weed, director of research at Phoenix Marketing, said.Asked what they'd like to see added to mobile payments services, 64% of consumers said they want to be able to redeem loyalty or rewards program points at the time of purchase, Weed said. And 52% said they wanted the ability to view discounts and deals while at a specific store. All of the announced services have pledged to include loyalty and rewards programs but very few have been offered so far. Consumers are "looking for something beyond the digitization of the swipe," Brian Mooney, CEO of the Merchant Customer Exchange, said. The three year old group, formed by leading retailers, is piloting its own payments app, called CurrentC, which intends to integrate loyalty and rewards programs. Mooney didn't say when the long-delayed service would be generally available but the group is also partnering with Chase's new service. The evolution of BitcoinAmid all the excitement around digital payments, there was still plenty of talk about the financial world's favorite cryptocurrency, bitcoin. But unlike past years, entrepreneurs are now focused less on bitcoin as a replacement for buying and selling goods and more on the digital currency's infrastructure for securely recording all kinds of dealings. Every bitcoin transaction is recorded in a public ledger known as the blockchain.Nasdaq (NDAQ) announced that its pilot using the blockchain to record private stock transactionswas a success. The exchange said it had signed up six clients, including messaging service Tango and data security specialist Vera, to use the transaction system as the basis for actual private trades in their shares.Some entrepreneurs are looking to add considerably more transactions onto the block chain, particularly the trillions of dollars per day of trades in public stocks and bonds. The current system makes traders wait three days for transactions to formally settle, but some at the Money conference said a blockchain-based solution could complete deals in a fraction of the time and with improved security and transparency.Three day settlement is "silly, it's downright dumb," famed venture capitalist Vinod Kholsa, who has backed numerous financial technology and bitcoin related start ups, said. \|\| Mobile Attacks More Vicious Than Ever, New Blue Coat Report Shows: SUNNYVALE, CA--(Marketwired - Oct 28, 2015) - As mobile devices become more deeply woven into the fabric of our personal and work lives, cyber criminals are taking increasingly vicious and disturbingly personal shots at us, according to the 2015 State of Mobile Malware Report from Blue Coat Systems, Inc. , a market leader in enterprise security. Cyber blackmail (mobile ransomware attacks) leads the way as a top malware type in 2015, along with the stealthy insertion of spyware on devices that allows attackers to profile behavior and online habits. The new Blue Coat report, available here , describes the latest trends and vulnerabilities in mobile malware, provides advice for strengthening corporate defenses and educating mobile device users, and offers predictions about the future of mobile threats. "As we sleep, exercise, work and shop with our mobile devices, cyber criminals are waiting to take advantage of the data these devices collect, as evidenced by the types of malware and attacks we're seeing," said Dr. Hugh Thompson, CTO and senior vice president, Blue Coat. "The implications of this nefarious activity certainly carry over to corporate IT as organizations rapidly adopt cloud-based, mobile versions of enterprise applications, opening up another avenue for attackers. A holistic and strategic approach to managing risk must extend the perimeter to mobile and cloud environments -- based on a realistic, accurate look at the problem -- and deploy advanced protections that can prioritize and remediate sophisticated, emerging and unknown threats." Summary of Findings: Pornography returned as the number one threat vector after dropping to number two last year. The three top types of malware in this year's report are Ransomware, Potentially Unwanted Software (PUS), and Information Leakage. The mobile threat landscape is becoming more active. Get Your Cyber Flu Shot: Top Infection Vectors of 2015 1 Pornography Porn isn't just back on top -- it's bigger than ever -- jumping from 16.55 percent in 2014 to over 36 percent this year. That is, when we see a mobile user's traffic heading to a malicious site, 36 percent of the time that user is following a link from a porn site. To put this in some perspective: when porn led the pack in the 2013 report, it was with a market share of just 22.16 percent. 3 WebAds Dropped from almost 20 percent last year (2014) to less than five percent this year. These include both malvertising attacks and sites that host Trojan horse apps designed to appeal to porn site visitors. Blue Coat has also tracked and defined suspicious WebAd networks that are heavily involved in malware, scams, Potentially Unwanted Software (PUS), and other shady activities. Bitcoin Payment Now or Lose Your Smartphone Contents: Top Malware Types of 2015 1 Ransomware The world of mobile ransomware has grown dramatically over the past year. While some varieties that run on Android devices cause little damage beyond convincing victims to pay the cyber hostage-taker, many have adopted more sophisticated approaches common to ransomware in the Windows environment. With the increased performance capabilities of modern smartphones, it was only a matter of time before more advanced cryptographic ransomware, such as SimpleLocker, started showing up on mobile devices. These threats render music files, photographs, videos, and other document types unreadable -- while typically demanding an untraceable form of payment such as Bitcoin -- and employing a strict time limit for payment before the files become permanently inaccessible to the owner. 2 Potentially Unwanted Software Generally, this class of program exhibits behavior typical of "adware" or "spyware" -- spying on users' on-line activity and personal data -- or serving extra ads. Blue Coat researchers have seen a major shift in the volume of such software in the traditional malware space -- and this is also true of the mobile space -- as the number of junk mobile apps hosted on sites the researchers classify in this category has been rising steadily. This type of mobile app, notable for its dubious utility, frequently finds its way onto a mobile device through the use of deceptive advertising, or other social engineering attacks designed to deceive the victim into installing the unwanted program. 3 Information Leakage Most people are unaware that apps on their mobile device may be watching them -- and reporting out -- on a 24x7x365 basis. This information leakage is usually a minor drip, showing the version of their phone's operating system, the manufacturer, the specific app or browser being used, and similar information. Complicating matters is the fact that there are typically no included system tools available for users to see or know what data is going out of their devices. Whether on an Android or iOS device, leaky data is often openly revealed in the "User Agent" string. The Future of Mobile Security: With no signs of slowing down, the market for mobile devices is booming. Anticipating that millions more of these devices will hit the street in the coming years, Blue Coat makes the following observations and predictions about the future of this trend. Story continues 1 Mobile payment systems Mobile payment systems are set to grow, and services including contactless payment methods will incorporate additional security features, such as biometrics or two-factor authentication. 2 Support for traditional PC and mobile platforms There are already too many mobile devices vulnerable to a host of threats in use. These devices will almost certainly not receive needed OS updates, and that will drive a market in security solutions that can support both traditional PC and mobile platforms. 3 OTA updates to vulnerable devices Mobile carriers and handset makers are already working on plans to fast-track critical OTA updates to vulnerable devices, but the work is slow and it may be some time before this segment of the mobile market matures. To download the Blue Coat Mobile Malware report, including tips for staying safe and advice for strengthening corporate defenses, please visit: www.bluecoat.com/mobile-malware About Blue Coat Systems Blue Coat is a leader in advanced enterprise security, protecting 15,000 organizations every day, including 88 of the 100 largest global companies. Through the Blue Coat Security Platform, Blue Coat unites network, security and cloud, providing customers with maximum protection against advanced threats, while minimizing impact on network performance and enabling cloud applications and services. Blue Coat was acquired by Bain Capital in March 2015. For additional information, please visit www.bluecoat.com . Blue Coat and the Blue Coat logo are registered trademarks or trademarks of Blue Coat Systems, Inc. or its affiliates in the United States and certain other countries. All other trademarks mentioned in this document are the property of their respective owners. \|\| Mobile Attacks More Vicious Than Ever, New Blue Coat Report Shows: SUNNYVALE, CA--(Marketwired - Oct 28, 2015) - As mobile devices become more deeply woven into the fabric of our personal and work lives, cyber criminals are taking increasingly vicious and disturbingly personal shots at us, according to the2015 State of Mobile Malware ReportfromBlue Coat Systems, Inc., a market leader in enterprise security. Cyber blackmail (mobile ransomware attacks) leads the way as a top malware type in 2015, along with the stealthy insertion of spyware on devices that allows attackers to profile behavior and online habits. The new Blue Coat report,available here, describes the latest trends and vulnerabilities in mobile malware, provides advice for strengthening corporate defenses and educating mobile device users, and offers predictions about the future of mobile threats. "As we sleep, exercise, work and shop with our mobile devices, cyber criminals are waiting to take advantage of the data these devices collect, as evidenced by the types of malware and attacks we're seeing," said Dr. Hugh Thompson, CTO and senior vice president, Blue Coat. "The implications of this nefarious activity certainly carry over to corporate IT as organizations rapidly adopt cloud-based, mobile versions of enterprise applications, opening up another avenue for attackers. A holistic and strategic approach to managing risk must extend the perimeter to mobile and cloud environments -- based on a realistic, accurate look at the problem -- and deploy advanced protections that can prioritize and remediate sophisticated, emerging and unknown threats." Summary of Findings: • Pornography returned as the number one threat vector after dropping to number two last year. • The three top types of malware in this year's report are Ransomware, Potentially Unwanted Software (PUS), and Information Leakage. • The mobile threat landscape is becoming more active. Get Your Cyber Flu Shot: Top Infection Vectors of 2015 [{"1": "3", "": "", "Pornography": "WebAds", "Porn isn't just back on top -- it's bigger than ever -- jumping from 16.55 percent in 2014 to over 36 percent this year. That is, when we see a mobile user's traffic heading to a malicious site, 36 percent of the time that user is following a link from a porn site. To put this in some perspective: when porn led the pack in the 2013 report, it was with a market share of just 22.16 percent.": "Dropped from almost 20 percent last year (2014) to less than five percent this year. These include both malvertising attacks and sites that host Trojan horse apps designed to appeal to porn site visitors. Blue Coat has also tracked and defined suspicious WebAd networks that are heavily involved in malware, scams, Potentially Unwanted Software (PUS), and other shady activities."}] Bitcoin Payment Now or Lose Your Smartphone Contents: Top Malware Types of 2015 [{"1": "2", "": "", "Ransomware": "Potentially Unwanted Software", "The world of mobile ransomware has grown dramatically over the past year. While some varieties that run on Android devices cause little damage beyond convincing victims to pay the cyber hostage-taker, many have adopted more sophisticated approaches common to ransomware in the Windows environment. With the increased performance capabilities of modern smartphones, it was only a matter of time before more advanced cryptographic ransomware, such as SimpleLocker, started showing up on mobile devices. These threats render music files, photographs, videos, and other document types unreadable -- while typically demanding an untraceable form of payment such as Bitcoin -- and employing a strict time limit for payment before the files become permanently inaccessible to the owner.": "Generally, this class of program exhibits behavior typical of \"adware\" or \"spyware\" -- spying on users' on-line activity and personal data -- or serving extra ads. Blue Coat researchers have seen a major shift in the volume of such software in the traditional malware space -- and this is also true of the mobile space -- as the number of junk mobile apps hosted on sites the researchers classify in this category has been rising steadily. This type of mobile app, notable for its dubious utility, frequently finds its way onto a mobile device through the use of deceptive advertising, or other social engineering attacks designed to deceive the victim into installing the unwanted program."}, {"1": "3", "": "", "Ransomware": "Information Leakage", "The world of mobile ransomware has grown dramatically over the past year. While some varieties that run on Android devices cause little damage beyond convincing victims to pay the cyber hostage-taker, many have adopted more sophisticated approaches common to ransomware in the Windows environment. With the increased performance capabilities of modern smartphones, it was only a matter of time before more advanced cryptographic ransomware, such as SimpleLocker, started showing up on mobile devices. These threats render music files, photographs, videos, and other document types unreadable -- while typically demanding an untraceable form of payment such as Bitcoin -- and employing a strict time limit for payment before the files become permanently inaccessible to the owner.": "Most people are unaware that apps on their mobile device may be watching them -- and reporting out -- on a 24x7x365 basis. This information leakage is usually a minor drip, showing the version of their phone's operating system, the manufacturer, the specific app or browser being used, and similar information. Complicating matters is the fact that there are typically no included system tools available for users to see or know what data is going out of their devices. Whether on an Android or iOS device, leaky data is often openly revealed in the \"User Agent\" string."}] The Future of Mobile Security: With no signs of slowing down, the market for mobile devices is booming. Anticipating that millions more of these devices will hit the street in the coming years, Blue Coat makes the following observations and predictions about the future of this trend. [{"1": "2", "": "", "Mobile payment systems": "Support for traditional PC and mobile platforms", "Mobile payment systems are set to grow, and services including contactless payment methods will incorporate additional security features, such as biometrics or two-factor authentication.": "There are already too many mobile devices vulnerable to a host of threats in use. These devices will almost certainly not receive needed OS updates, and that will drive a market in security solutions that can support both traditional PC and mobile platforms."}, {"1": "3", "": "", "Mobile payment systems": "OTA updates to vulnerable devices", "Mobile payment systems are set to grow, and services including contactless payment methods will incorporate additional security features, such as biometrics or two-factor authentication.": "Mobile carriers and handset makers are already working on plans to fast-track critical OTA updates to vulnerable devices, but the work is slow and it may be some time before this segment of the mobile market matures."}] To download the Blue Coat Mobile Malware report, including tips for staying safe and advice for strengthening corporate defenses, please visit:www.bluecoat.com/mobile-malware About Blue Coat SystemsBlue Coat is a leader in advanced enterprise security, protecting 15,000 organizations every day, including 88 of the 100 largest global companies. Through the Blue Coat Security Platform, Blue Coat unites network, security and cloud, providing customers with maximum protection against advanced threats, while minimizing impact on network performance and enabling cloud applications and services. Blue Coat was acquired by Bain Capital in March 2015. For additional information, please visitwww.bluecoat.com. Blue Coat and the Blue Coat logo are registered trademarks or trademarks of Blue Coat Systems, Inc. or its affiliates in the United States and certain other countries. All other trademarks mentioned in this document are the property of their respective owners. \|\| Zenith Receives Approval for Onshore Oil Production in Azerbaijan: This press release is not to be distributed to U.S. newswire services or for dissemination in the United States. Any failure to comply with this restriction may constitute a violation of U.S. securities law. CALGARY, Alberta, Oct. 28, 2015 (GLOBE NEWSWIRE) --Zenith Energy Ltd.("Zenith"or the"Company") (ZEE.V) is pleased to announce that the Company has received a Presidential Decree in Azerbaijan to acquire three producing onshore oil fields. As reported several times in quarterly MD&A filings, the Company has been in negotiations for the last 15 months with our counterparty in Azerbaijan, SOCAR (State Oil Company of Azerbaijan Republic). Approval by Presidential Decree at the end of negotiations is required for a contract with SOCAR according to the internal process under the Laws of the Republic of Azerbaijan. The Presidential Decree has just been signed by the President of the Republic of Azerbaijan and this event triggers the Company`s obligation for continuing disclosure. Some additional procedural steps will be implemented before the hand-over of the fields to Zenith. The three fields have a compounded acreage of 642.4 square kilometres, and produce ~315 barrels of crude oil per day at present, although they have produced larger quantities previously (Source: SOCAR, State Oil Company of Azerbaijan Republic). Gas is also produced, but in low quantity, and is used at the site. The fields are named Muradkanly, Yafarli and Zardob. Zenith will be the operator of the concession and will have an 80% interest, while the local state party will retain 20%. The license will have a duration of 25 years. Zenith`s technical personnel have already been allowed access to the fields to inspect the current operation and evaluate the existing infrastructure. Due to the confidential nature of negotiations, economic details of the acquisition will be released at a later date. The contract will also be subject to regulatory approval in Canada. As reported in Zenith`s press release from September 25, 2015, the Company has opened an office in Baku, the capital of Azerbaijan. This corporate office is a two and a half hour drive from the operational office presently used to manage the producing fields, which are in the southern region of Azerbaijan. Similar to Zenith`s activity in other countries, the Company will create a wholly-owned subsidiary fully dedicated to this project. This strategy has proven to attract significant local expertise and enabled the Company to effectively integrate new methods, technologies and personnel. Azerbaijani management familiar with the properties will initially be supplemented by new technical and operational personnel from Zenith, however the Company will also begin to actively identify international management and specialists willing to relocate to Azerbaijan as part of its strategy to grow domestic production. An internationally recognized independent reservoir engineering firm is currently preparing a 51-101 National Instrument report to evaluate the remaining reserves and the expected productivity potential of the three fields. Andrea Cattaneo, President and CEO of Zenith Energy comments: "This acquisition represents Zenith`s first investment into a country that management has held in high regard and is the culmination of over 15 months of negotiations and due diligence with local authorities." About Azerbaijan Azerbaijan is located at the crossroads of Western Asia and Eastern Europe. After gaining independence in 1991, Azerbaijan became a member of the International Monetary Fund, the World Bank, the European Bank for Reconstruction and Development, the Islamic Development Bank and the Asian Development Bank. Azerbaijan is one of the birthplaces of the oil industry, with trade dating back as early as the 3rd and 4th centuries. The world`s first paraffin factory was opened in the country in 1823 and the first oil well was drilled in 1847. In the 1870s, the region experienced the first true oil boom with oil drilling beginning on a massive scale highlighted by the Vermishevsky oil gusher on June 13, 1872 which produced an estimated 2600 barrels per day during its first three months. Several cycles of oil development have occurred within the country, and after gaining independence in 1991, Azerbaijan started to attract significant foreign investment. On September 20th, 1994, after three and a half years of arduous negotiations, Azerbaijan and a Consortium of foreign oil companies signed a production sharing contract to develop Azerbaijan`s Caspian oil reserves. This contract was later named the Contract of the Century due to its tremendous importance. Thirteen companies from eight countries participated in the signing of the Contract of the Century. Azerbaijan`s development as a supplier of petroleum to Europe continued to evolve with the national strategy to develop infrastructure including the BTC (Baku-Tbilisi-Ceyhan) pipeline, officially opened on July 13, 2006. The BTC pipeline transports crude 1,769 km from the offshore Azeri-Chirag-Guneshli oil fields in the Caspian Sea to the Mediterranean Sea. Possessing the capacity to transport more than one million barrels per day, this pipeline is the second longest in the world and pumps oil from the Sangachal Terminal near Baku (Azerbaijan), through Tbilisi (the Georgian Capital) to Ceyhan, a port on the south-eastern Mediterranean coast of Turkey. Azerbaijan is estimated to hold proven reserves of 14.748 billion barrels (2 billion tonnes) of crude oil and condensate and an additional reserve of 2.55 trillion cubic meters (90 Tcf) of natural gas. (Source: SOCAR, State Oil Company of Azerbaijan Republic). Wholly located within the South Caspian Sea basin, Azerbaijan is one of the region`s most strategic energy export openings to the west, and an increasingly important supplier of natural gas to Europe via the country`s existing and proposed pipeline network. Companies working in Azerbaijan include, among others, these majors: BP, Statoil, SAIPEM, ExxonMobil, ITOCHU, Chevron, Petronas, TOTAL, LUKOIL, TPAO and GDF SUEZ. About Zenith Energy Ltd. Zenith focuses on the acquisition and further development of proven onshore oil and gas fields where production has declined over time, but which are capable of increased productivity following an injection of capital and optimization through its corporate engineering and technical expertise. To maximize shareholder value, Zenith targets acquisitions of production opportunities that offer strong logistics and close proximity to refineries and pipelines. Zenith`s management and directors have extensive international and governmental experience and possess the technical knowledge to execute this strategy. Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. Forward-Looking Statements This news release contains forward-looking statements and forward-looking information within the meaning of applicable securities laws. The use of any of the words "expect", "anticipate", "continue", "estimate", "objective", "ongoing", "may", "will", "project", "should", "believe", "plans", "intends" and similar expressions are intended to identify forward-looking information or statements. More particularly and without limitation, this news release contains forward-looking statements and information concerning (i) the Company`s goal of acquiring producing properties in Azerbaijan, (ii) the current and future production potential of the properties, (iii) the revenue associated with production and (iv) the pricing and profitability of oil and gas production. The forward-looking statements and information are based on certain key expectations and assumptions made by Zenith, including the ability to execute its strategy and realize its growth opportunities including its ability to finance and execute its plans. Although Zenith believes that the expectations and assumptions on which such forward-looking statements and information are based are reasonable, undue reliance should not be placed on the forward looking statements and information because Zenith can give no assurance that they will prove to be correct. By its nature, such forward-looking information is subject to various risks and uncertainties, which could cause the actual results and expectations to differ materially from the anticipated results or expectations expressed. These risks and uncertainties, include, but are not limited to, Zenith being unable to finance or realize growth opportunities. Readers are cautioned not to place undue reliance on this forward-looking information, which is given as of the date hereof, and to not use such forward-looking information for anything other than its intended purpose. Zenith undertakes no obligation to update publicly or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by law. CONTACT: For further information, please contact:Jose Ramon Lopez PortilloChairman of the BoardAndrea CattaneoCEO & PresidentEmail: [email protected]: (587) 437-1984Telefax: (403) 775-4474 This announcement is distributed by NASDAQ OMX Corporate Solutions on behalf of NASDAQ OMX Corporate Solutions clients.The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.Source: Zenith Energy Ltd. via GlobeNewswireHUG#1961969 [Social Media Buzz] Current price: 339.54$ $BTCUSD $btc #bitcoin 2015-11-02 09:00:06 EST \|\| In the last 10 mins, there were arb opps spanning 19 exchange pair(s), yielding profits ranging between $0.00 and $10,255.76 #bitcoin #btc \|\| @MTVNews What if i told you we now have a #MobileApp where we can tip our favorite artist $1.00 using @ChangeTip #bitcoin #blockchain \|\| #RDD / #BTC on the exchanges: Cryptsy: 0.00000003 Bittrex: 0.00000004 Average $1.0E-5 per #reddcoin 20:15:00 \|\| LIVE: Profit = $7,328.18 (4.51 %). B...	403.42, 411.56, 386.35, 374.47, 386.48, 373.37, 380.26, 336.82, 311.08, 338.15
Given the historical Bitcoin prices from the last 90 days, predict the next 10 daily closing prices. The historical prices are: 246.06, 242.97, 242.30, 243.93, 244.94, 247.05, 245.31, 249.51, 251.99, 254.32, 262.87, 270.64, 261.64, 263.44, 269.46, 266.27, 274.02, 276.50, 281.65, 283.68, 285.30, 293.79, 304.62, 313.86, 328.02, 314.17, 325.43, 361.19, 403.42, 411.56, 386.35, 374.47, 386.48, 373.37, 380.26, 336.82, 311.08, 338.15, 336.75, 332.91, 320.17, 330.75, 335.09, 334.59, 326.15, 322.02, 326.93, 324.54, 323.05, 320.05, 328.21, 352.68, 358.04, 357.38, 371.29, 377.32, 362.49, 359.19, 361.05, 363.18, 388.95, 388.78, 395.54, 415.56, 417.56, 415.48, 451.94, 435.00, 433.76, 444.18, 465.32, 454.93, 456.08, 463.62, 462.32, 442.68, 438.64, 436.57, 442.40, 454.98, 455.65, 417.27, 422.82, 422.28, 432.98, 426.62, 430.57, 434.33, 433.44, 430.01.	[Bitcoin Technical Analysis for 2016-01-03] Volume: 39633800, RSI (14-day): 52.35, 50-day EMA: 402.59, 200-day EMA: 321.97 [Wider Market Context] None available. [Recent News (last 7 days)] Can The Bitcoin Foundation Last?: The Bitcoin Foundation was launched in 2012 as a way to provide legitimacy to bitcoin and cryptocurrencies at a time when they were relatively unknown. For two years, the foundation worked to lobby lawmakers, create public awareness and help bitcoin technology advance with the changing times. However, in 2014 when the price of bitcoin dropped dramatically, the foundation lost a great deal of its funding and now almost two years later, it continues to struggle. Money Issues One of the foundation's largest problems lies in its finances. The Bitcoin Foundation's board members have proven inexperienced at raising money and managing finances, an issue that has caused the organization to lose around $7 million over the course of the past two years. Related Link:What's In Store For Bitcoin In 2016 On December 15 when the Bitcoin Foundation held its board meeting, Executive Director Bruce Fentonadmittedthat the organization was in dire straits and that more funding would be required in order to keep the foundation up and running, according to Bloomberg. A Bad Reputation However, while the bitcoin community strongly supports spreading the word about cryptocurrencies, the Bitcoin Foundation has found it increasingly difficult to recruit new members and drum up donations. One of the reasons for this has been the organization's deteriorating reputation. As bitcoin itself was dragged through the mud due to high profile scams, some Bitcoin Foundation board members were wrapped up in scandals of their own. Former Vice Chairman of the Bitcoin Foundation Charlie Shrem is serving time in prison for his involvement in the illegal Silk Road marketplace, and founding member Mark Karpeles, the brain behind failed exchange Mt. Gox, was arrested on charges of embezzlement in August 2015. Does Bitcoin Need A Foundation? While the Bitcoin Foundation has been instrumental in helping the cryptocurrency advance, many believe the currency is likely to survive even without the organization. While the Bitcoin Foundation represents the first major entity to advocate cryptocurrencies, several others have since emerged and will likely take on the organization's role should it deteriorate further. Hanging On By A Thread On December 22, the Bitcoin Foundation voted to continue into the New Year and appointed three new board members. In an effort to turn things around, the foundation is working to revamp its mission statement and focus on maintaining healthier financials. Image Credit:Public Domain See more from Benzinga • What Does The End Of The Oil Export Ban Mean For Investors? • Could 2016 Be The Year Of Drone Deliveries? • Are Bank Stocks The Way Forward In 2016? © 2015 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. \|\| Can The Bitcoin Foundation Last?: The Bitcoin Foundation was launched in 2012 as a way to provide legitimacy to bitcoin and cryptocurrencies at a time when they were relatively unknown. For two years, the foundation worked to lobby lawmakers, create public awareness and help bitcoin technology advance with the changing times. However, in 2014 when the price of bitcoin dropped dramatically, the foundation lost a great deal of its funding and now almost two years later, it continues to struggle. Money Issues One of the foundation's largest problems lies in its finances. The Bitcoin Foundation's board members have proven inexperienced at raising money and managing finances, an issue that has caused the organization to lose around $7 million over the course of the past two years. Related Link: What's In Store For Bitcoin In 2016 On December 15 when the Bitcoin Foundation held its board meeting, Executive Director Bruce Fenton admitted that the organization was in dire straits and that more funding would be required in order to keep the foundation up and running, according to Bloomberg. A Bad Reputation However, while the bitcoin community strongly supports spreading the word about cryptocurrencies, the Bitcoin Foundation has found it increasingly difficult to recruit new members and drum up donations. One of the reasons for this has been the organization's deteriorating reputation. As bitcoin itself was dragged through the mud due to high profile scams, some Bitcoin Foundation board members were wrapped up in scandals of their own. Former Vice Chairman of the Bitcoin Foundation Charlie Shrem is serving time in prison for his involvement in the illegal Silk Road marketplace, and founding member Mark Karpeles, the brain behind failed exchange Mt. Gox, was arrested on charges of embezzlement in August 2015. Does Bitcoin Need A Foundation? While the Bitcoin Foundation has been instrumental in helping the cryptocurrency advance, many believe the currency is likely to survive even without the organization. While the Bitcoin Foundation represents the first major entity to advocate cryptocurrencies, several others have since emerged and will likely take on the organization's role should it deteriorate further. Story continues Hanging On By A Thread On December 22, the Bitcoin Foundation voted to continue into the New Year and appointed three new board members. In an effort to turn things around, the foundation is working to revamp its mission statement and focus on maintaining healthier financials. Image Credit: Public Domain See more from Benzinga What Does The End Of The Oil Export Ban Mean For Investors? Could 2016 Be The Year Of Drone Deliveries? Are Bank Stocks The Way Forward In 2016? © 2015 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. \|\| Can The Bitcoin Foundation Last?: The Bitcoin Foundation was launched in 2012 as a way to provide legitimacy to bitcoin and cryptocurrencies at a time when they were relatively unknown. For two years, the foundation worked to lobby lawmakers, create public awareness and help bitcoin technology advance with the changing times. However, in 2014 when the price of bitcoin dropped dramatically, the foundation lost a great deal of its funding and now almost two years later, it continues to struggle. Money Issues One of the foundation's largest problems lies in its finances. The Bitcoin Foundation's board members have proven inexperienced at raising money and managing finances, an issue that has caused the organization to lose around $7 million over the course of the past two years. Related Link:What's In Store For Bitcoin In 2016 On December 15 when the Bitcoin Foundation held its board meeting, Executive Director Bruce Fentonadmittedthat the organization was in dire straits and that more funding would be required in order to keep the foundation up and running, according to Bloomberg. A Bad Reputation However, while the bitcoin community strongly supports spreading the word about cryptocurrencies, the Bitcoin Foundation has found it increasingly difficult to recruit new members and drum up donations. One of the reasons for this has been the organization's deteriorating reputation. As bitcoin itself was dragged through the mud due to high profile scams, some Bitcoin Foundation board members were wrapped up in scandals of their own. Former Vice Chairman of the Bitcoin Foundation Charlie Shrem is serving time in prison for his involvement in the illegal Silk Road marketplace, and founding member Mark Karpeles, the brain behind failed exchange Mt. Gox, was arrested on charges of embezzlement in August 2015. Does Bitcoin Need A Foundation? While the Bitcoin Foundation has been instrumental in helping the cryptocurrency advance, many believe the currency is likely to survive even without the organization. While the Bitcoin Foundation represents the first major entity to advocate cryptocurrencies, several others have since emerged and will likely take on the organization's role should it deteriorate further. Hanging On By A Thread On December 22, the Bitcoin Foundation voted to continue into the New Year and appointed three new board members. In an effort to turn things around, the foundation is working to revamp its mission statement and focus on maintaining healthier financials. Image Credit:Public Domain See more from Benzinga • What Does The End Of The Oil Export Ban Mean For Investors? • Could 2016 Be The Year Of Drone Deliveries? • Are Bank Stocks The Way Forward In 2016? © 2015 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. \|\| 16 Bold ETF Predictions for 2016: 2015 wasn’t exactly a great year for fund investors. A few choice companies dominated and left their competitors in the dust, making it a pretty poor year to be a sector investor. For example, stocks like Amazon (AMZN) or Netflix (NFLX) more than doubled in 2015 while not a single major SPDR sector looks to finish the year with gains in excess of 11%. However, 2016 looks to be a bit brighter, assuming of course it isn’t going to be a ‘stock picker’s market’ again in the New Year. Beyond that though, it looks to be another exciting and prosperous year for the ETF industry, and one that looks to see plenty of changes, as well as new funds. In terms of what specifically the New Year might hold, I offer up 16 predictions on what I think 2016 will hold for the world of ETFs, and what investors need to watch for in the New Year: What does 2016 hold for the ETF world? Hedged currency trend finally ends One of the most annoying trends in 2015 has been the surge in every type of hedged currency ETF you could think of, be it half hedged, dynamic hedged, or Chinese currency hedged. While I think the dollar will strengthen a bit more, I think the second half of 2016 will see the flow of hedged ETFs slow to a trickle—if not an outright halt—as the dollar levels out and investors look elsewhere for gains in foreign markets (see Flurry of New Currency Hedged ETFs Fuels Price War ). ETMFs Debut, but stumble out of the gate Exchange Traded Mutual Funds are going to be a big buzzword in 2016 as companies like Eaton Vance look to launch this product type which seeks to provide the exchange-traded benefits of ETFs, with the closed-off holdings aspects of mutual funds to prevent front-running. While I think these will one day have a place in the fund world, they will stumble out of the gate as they confuse investors, unless of course big name players jump on this category and can bring their brand name following with them. More specialized sectors funds look to catch fire, but struggle After the insane rise of the cybersecurity ETF (HACK) in the past year, a number of ETF issuers are looking to strike it rich with similar products in the New Year. As of late, I have seen filings for e-commerce funds, 3D Printing ETFs, and an Internet of Things product, with all of them looking to catch fire like HACK did. However, HACK had a massive catalyst, and without that, the new funds will struggle for a bit to gain popularity in 2016 (see Invest in Booming Technologies with These 3 ETFs). Story continues IWM will beat SPY in 2016 Large caps led the way in 2015, mostly thanks to incredible performances from well-known companies. I think this trend reverses in 2016 and we see a return of the small cap ETF (IWM) and its outperformance over its large cap counterparts in the New Year. RSP will beat SPY in 2016 In that same vein, the equal weight S&P 500 fund (RSP) had long beaten its cap-focused counterpart, SPY . However, this trend ended in 2015 thanks to those surging mega cap securities. I am also looking for this trend to reverse in 2016 and to see a resurgence of equal weight product demand in general for the New Year as well. Surge in duration hedged/negative duration ETF interest A few years ago, hedged Japan ETFs (like DXJ ) hit the market and many thought they were too sophisticated for retail investors. However, as this turned out to be the best way to play the Japan story, investors of all stripes flocked to these products, making them ultra-popular choices in the Japan market. The same concerns are present now with hedged/negative duration bond funds and I think as interest rates rise these will have their time in the sun (by being the best bond ETF plays) and surge in popularity in 2016 ( Worried About Higher Interest Rates? Buy These 4 ETFs to Profit ). Ex-sector funds hit $100 million under management If 2016 is anything like 2015, we will see at least one major sector stumble. That is why I think the lineup from ProShares of ex-sector ETFs (ex-energy, ex-financials, ex-health care, and ex-technology) will finally surge in 2016 after languishing in anonymity for much of Q4 in 2015. With a year under their belt, these will finally see some interest from investors and will go from a combined AUM of under $20 million today, to a combined AUM of at least $100 million by year’s end. New SPDR Select Sector ETFs hit $100 million in assets State Street’s SPDR lineup has proven to be very popular, but the company recently launched two new products to round out its financial ETF offering; XLFS (focus on financial services) and XLRE (focus on real estate). Both of these made their debut in Q4 but haven’t really seen a surge in assets. I think this will change in 2016 as the interest rate picture becomes clearer, making at least one of them a $100 million product, up from roughly $16 million total right now. Oil-free in 2016 The trend against oil investing will continue in 2016 and I think we will see at least a few more fossil-free funds hit the market as investors look to avoid this space in their portfolios. I also think we could see an oil-free bond ETF (or fossil free bond ETF) as issuers look to cash in on the trend against oil investments and over the concerns of defaults in the high yield market in this corner of the fixed income world (read Support the Environment and Profit with Fossil Fuel Free ETFs ). ETF Closures Go Over 100 and Hit/Approach a Record There are nearly 20 funds that have less than $1 million in assets under management, while about 300 have less than $5 million under management. There is basically no way these are profitable and I am sure we will see a host of closures in 2016 as the writing on the wall becomes clear for many of these strategies. This will make 2016 another big, if not the biggest, year for ETF closures on record. Someone Will Close Down Too Early The flip side of this is that a fund will close down too early. In 2016, I predict a fund will shut its doors only to see its segment go on to great popularity within the next few months. We saw this with FAA and the airline space (among others) and it is hard to discount the importance of timing in the ETF world right now, so look for this to happen to a country or sector fund in the New Year (see Finally a New Airline ETF Prepares to Take Off). Two similar ETFs will launch within a one month window You know when Hollywood launches two similar movies pretty close together ( White House Down and Olympus Has Fallen or A Bug’s Life and Antz back in the day)? Well, the ETF industry likes to do that too, putting out funds that target pretty much the same area within a few weeks of each other. The idea is to dilute the first-mover advantage (or to race and become the first mover) and I’d look for that trend to continue in 2016 at least once. Wearable ETF hits the market (or at least a filing) Thanks to the ubiquitous nature of Fitbit (FIT) and a boost in interest in all technology connected devices that are ‘wearable’, a number of companies are jumping into this market. As we saw in recent months with cyber security and cloud computing ETFs, I’d expect to see a wearable (ticker WEAR?) before too long, or at least a filing that will get this fund to market eventually. Bitcoin fund finally comes out For quite some time now, there has been a filing in the pipeline for a bitcoin ETF (COIN) from the Winklevoss twins of all people. The first filing was in 2013, an index was launched earlier in 2014, and I think 2016 will finally mark see this idea pass regulatory hurdles as well as the launch of this product which should help to make bitcoins more easily tradable and liquid for the masses, much like what GLD did for gold (read Believe It or Not: Winklevoss Bitcoin ETF on the Horizon ). Price war continues As the ETF space starts to round out, many ETF issuers have launched ‘me-too’ products which target substantially similar segments of the market. The way they differentiate has largely been on the price front and this has forced issuers to slash costs in order to remain competitive. This war has been great for consumers who look to save more money, and I expect to see more fee cuts and price competitive products in 2016 as well. You’ll see more calls of an ETF Bubble… These will be wrong Every couple of months, ETF pundits will write articles or go on TV saying that the end is near for the ETF world and that the category cannot support more products. These predictions have been wrong before and they will be wrong again in 2016. While there are a lot more ETFs than there were a few years ago, there is still plenty of more sector specific and active ETF opportunities out there, meaning that investors shouldn’t be worried about a bubble again in the New Year either (see Best and Worst ETFs of 2015). Happy New Year and best of luck to fund investors in 2016! Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days . Click to get this free report >> Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report FITBIT INC (FIT): Free Stock Analysis Report PURFDS-ISE CYBR (HACK): ETF Research Reports ISHARS-R 2000 (IWM): ETF Research Reports SPDR-FS SELS (XLFS): ETF Research Reports SPDR-SP 500 TR (SPY): ETF Research Reports GUGG-SP5 EQ ETF (RSP): ETF Research Reports To read this article on Zacks.com click here. Zacks Investment Research Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report \|\| 16 Bold ETF Predictions for 2016: 2015 wasn’t exactly a great year for fund investors. A few choice companies dominated and left their competitors in the dust, making it a pretty poor year to be a sector investor. For example, stocks likeAmazon (AMZN)orNetflix (NFLX)more than doubled in 2015 while not a single major SPDR sector looks to finish the year with gains in excess of 11%. However, 2016 looks to be a bit brighter, assuming of course it isn’t going to be a ‘stock picker’s market’ again in the New Year. Beyond that though, it looks to be another exciting and prosperous year for the ETF industry, and one that looks to see plenty of changes, as well as new funds. In terms of what specifically the New Year might hold, I offer up 16 predictions on what I think 2016 will hold for the world of ETFs, and what investors need to watch for in the New Year: Hedged currency trend finally ends One of the most annoying trends in 2015 has been the surge in every type of hedged currency ETF you could think of, be it half hedged, dynamic hedged, or Chinese currency hedged. While I think the dollar will strengthen a bit more, I think the second half of 2016 will see the flow of hedged ETFs slow to a trickle—if not an outright halt—as the dollar levels out and investors look elsewhere for gains in foreign markets (see Flurry of New Currency Hedged ETFs Fuels Price War ). ETMFs Debut, but stumble out of the gate Exchange Traded Mutual Funds are going to be a big buzzword in 2016 as companies like Eaton Vance look to launch this product type which seeks to provide the exchange-traded benefits of ETFs, with the closed-off holdings aspects of mutual funds to prevent front-running. While I think these will one day have a place in the fund world, they will stumble out of the gate as they confuse investors, unless of course big name players jump on this category and can bring their brand name following with them. More specialized sectors funds look to catch fire, but struggle After the insane rise of thecybersecurity ETF (HACK)in the past year, a number of ETF issuers are looking to strike it rich with similar products in the New Year. As of late, I have seen filings for e-commerce funds, 3D Printing ETFs, and an Internet of Things product, with all of them looking to catch fire like HACK did. However, HACK had a massive catalyst, and without that, the new funds will struggle for a bit to gain popularity in 2016 (see Invest in Booming Technologies with These 3 ETFs). IWM will beat SPY in 2016 Large caps led the way in 2015, mostly thanks to incredible performances from well-known companies. I think this trend reverses in 2016 and we see a return of thesmall cap ETF (IWM)and its outperformance over its large cap counterparts in the New Year. RSP will beat SPYin 2016 In that same vein, theequal weight S&P 500 fund (RSP)had long beaten its cap-focused counterpart,SPY. However, this trend ended in 2015 thanks to those surging mega cap securities. I am also looking for this trend to reverse in 2016 and to see a resurgence of equal weight product demand in general for the New Year as well. Surge in duration hedged/negative duration ETF interest A few years ago, hedged Japan ETFs (likeDXJ) hit the market and many thought they were too sophisticated for retail investors. However, as this turned out to be the best way to play the Japan story, investors of all stripes flocked to these products, making them ultra-popular choices in the Japan market. The same concerns are present now with hedged/negative duration bond funds and I think as interest rates rise these will have their time in the sun (by being the best bond ETF plays) and surge in popularity in 2016 ( Worried About Higher Interest Rates? Buy These 4 ETFs to Profit ). Ex-sector funds hit $100 million under management If 2016 is anything like 2015, we will see at least one major sector stumble. That is why I think the lineup from ProShares of ex-sector ETFs (ex-energy, ex-financials, ex-health care, and ex-technology) will finally surge in 2016 after languishing in anonymity for much of Q4 in 2015. With a year under their belt, these will finally see some interest from investors and will go from a combined AUM of under $20 million today, to a combined AUM of at least $100 million by year’s end. New SPDR Select Sector ETFs hit $100 million in assets State Street’s SPDR lineup has proven to be very popular, but the company recently launched two new products to round out its financial ETF offering;XLFS(focus on financial services) and XLRE (focus on real estate). Both of these made their debut in Q4 but haven’t really seen a surge in assets. I think this will change in 2016 as the interest rate picture becomes clearer, making at least one of them a $100 million product, up from roughly $16 million total right now. Oil-free in 2016 The trend against oil investing will continue in 2016 and I think we will see at least a few more fossil-free funds hit the market as investors look to avoid this space in their portfolios. I also think we could see an oil-free bond ETF (or fossil free bond ETF) as issuers look to cash in on the trend against oil investments and over the concerns of defaults in the high yield market in this corner of the fixed income world (read Support the Environment and Profit with Fossil Fuel Free ETFs ). ETF Closures Go Over 100 and Hit/Approach a Record There are nearly 20 funds that have less than $1 million in assets under management, while about 300 have less than $5 million under management. There is basically no way these are profitable and I am sure we will see a host of closures in 2016 as the writing on the wall becomes clear for many of these strategies. This will make 2016 another big, if not the biggest, year for ETF closures on record. Someone Will Close Down Too Early The flip side of this is that a fund will close down too early. In 2016, I predict a fund will shut its doors only to see its segment go on to great popularity within the next few months. We saw this with FAA and the airline space (among others) and it is hard to discount the importance of timing in the ETF world right now, so look for this to happen to a country or sector fund in the New Year (see Finally a New Airline ETF Prepares to Take Off). Two similar ETFs will launch within a one month window You know when Hollywood launches two similar movies pretty close together (White House DownandOlympus Has FallenorA Bug’s LifeandAntzback in the day)? Well, the ETF industry likes to do that too, putting out funds that target pretty much the same area within a few weeks of each other. The idea is to dilute the first-mover advantage (or to race andbecomethe first mover) and I’d look for that trend to continue in 2016 at least once. Wearable ETF hits the market (or at least a filing) Thanks to the ubiquitous nature ofFitbit (FIT)and a boost in interest in all technology connected devices that are ‘wearable’, a number of companies are jumping into this market. As we saw in recent months with cyber security and cloud computing ETFs, I’d expect to see a wearable (ticker WEAR?) before too long, or at least a filing that will get this fund to market eventually. Bitcoin fund finally comes out For quite some time now, there has been a filing in the pipeline for a bitcoin ETF (COIN) from the Winklevoss twins of all people. The first filing was in 2013, an index was launched earlier in 2014, and I think 2016 will finally mark see this idea pass regulatory hurdles as well as the launch of this product which should help to make bitcoins more easily tradable and liquid for the masses, much like whatGLDdid for gold (read Believe It or Not: Winklevoss Bitcoin ETF on the Horizon ). Price war continues As the ETF space starts to round out, many ETF issuers have launched ‘me-too’ products which target substantially similar segments of the market. The way they differentiate has largely been on the price front and this has forced issuers to slash costs in order to remain competitive. This war has been great for consumers who look to save more money, and I expect to see more fee cuts and price competitive products in 2016 as well. You’ll see more calls of an ETF Bubble… These will be wrong Every couple of months, ETF pundits will write articles or go on TV saying that the end is near for the ETF world and that the category cannot support more products. These predictions have been wrong before and they will be wrong again in 2016. While there are a lot more ETFs than there were a few years ago, there is still plenty of more sector specific and active ETF opportunities out there, meaning that investors shouldn’t be worried about a bubble again in the New Year either (see Best and Worst ETFs of 2015). Happy New Year and best of luck to fund investors in 2016! Want the latest recommendations from Zacks Investment Research? Today, you can download7 Best Stocks for the Next 30 Days.Click to get this free report >> Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days.Click to get this free reportFITBIT INC (FIT): Free Stock Analysis ReportPURFDS-ISE CYBR (HACK): ETF Research ReportsISHARS-R 2000 (IWM): ETF Research ReportsSPDR-FS SELS (XLFS): ETF Research ReportsSPDR-SP 500 TR (SPY): ETF Research ReportsGUGG-SP5 EQ ETF (RSP): ETF Research ReportsTo read this article on Zacks.com click here.Zacks Investment ResearchWant the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report \|\| Your first trade for Wednesday: The "Fast Money" traders delivered their final picks with just two trading days left in the year. Pete Najarian was a buyer ofWynn Resorts(WYNN). Brian Kelly was a buyer of Trina Solar(TSL). Dan Nathan was a seller of McDonald's(MCD). Guy Adami was a buyer of Thermo Fisher Scientific(TMO). Trader disclosure: On December 29, 2015, the following stocks and commodities mentioned or intended to be mentioned on CNBC's "Fast Money" were owned by the "Fast Money" traders: Pete Najarian is longLong AAPL, BAC, BMY, BP, DIS, DISCA, FOXA, GE, KO, MRK, PEP, PFE, he is long calls A, ABX, BAC, COP, DAL, DDD, EMR, EXAS, HAIN, HUN, LC, LULU, MOS, MSFT, NRF, NSAM, PNR, SCSS, UAL, VZ, WLL, WYNN, He is long puts FCX, MRO, WFT. Dan Nathan is long MCD Feb Put Spread, Long PFE buy-write, Long TWTR March Risk Reversal, Long UUP March call, Long XLU Feb Call spread, Long PYPL Jan Risk Reversal, Long M Jan16 call spread, Long NTAP Jan risk reversal, Long GM Jan Put Butterfly, Long Len Jan Put Fly, Long QCOM feb calls, Short SPY, Long UUP. Brian Kelly is long BBRY, Bitcoin, GDX, GLD, Hong Kong Dollar, TLT, US Dollar; he is short British Pound, Euro, Yen, Yuan, Canadian Dollar, GSG, EEM, EWC, EWH, KRE, SPY. Guy Adami is long CELG, EXAS, GDX, INTC, Guy Adami's wife, Linda Snow, works at Merck. More From CNBC • Top News and Analysis • Latest News Video • Personal Finance \|\| Your first trade for Wednesday: The " Fast Money " traders delivered their final picks with just two trading days left in the year. Pete Najarian was a buyer ofWynn Resorts ( WYNN ) . Brian Kelly was a buyer of Trina Solar ( TSL ) . Dan Nathan was a seller of McDonald's ( MCD ) . Guy Adami was a buyer of Thermo Fisher Scientific ( TMO ) . Trader disclosure: On December 29, 2015, the following stocks and commodities mentioned or intended to be mentioned on CNBC's "Fast Money" were owned by the "Fast Money" traders: Pete Najarian is long Long AAPL, BAC, BMY, BP, DIS, DISCA, FOXA, GE, KO, MRK, PEP, PFE, he is long calls A, ABX, BAC, COP, DAL, DDD, EMR, EXAS, HAIN, HUN, LC, LULU, MOS, MSFT, NRF, NSAM, PNR, SCSS, UAL, VZ, WLL, WYNN, He is long puts FCX, MRO, WFT. Dan Nathan is long MCD Feb Put Spread, Long PFE buy-write, Long TWTR March Risk Reversal, Long UUP March call, Long XLU Feb Call spread, Long PYPL Jan Risk Reversal, Long M Jan16 call spread, Long NTAP Jan risk reversal, Long GM Jan Put Butterfly, Long Len Jan Put Fly, Long QCOM feb calls, Short SPY, Long UUP. Brian Kelly is long BBRY, Bitcoin, GDX, GLD, Hong Kong Dollar, TLT, US Dollar; he is short British Pound, Euro, Yen, Yuan, Canadian Dollar, GSG, EEM, EWC, EWH, KRE, SPY. Guy Adami is long CELG, EXAS, GDX, INTC, Guy Adami's wife, Linda Snow, works at Merck. More From CNBC Top News and Analysis Latest News Video Personal Finance \|\| Anarchists love 2015's best performing asset: Gold is down nearly 10 percent, major U.S. stock indexes are roughly flat and energy commodities have nearly all fallen more than 30 percent: It's been a tough year for investors. And while individual stocks have seen big pops on headlines, perhaps the best performing non-equity asset of the year is a favorite among crypto-anarchists. Bitcoin (: BTC=) , the digital currency heralded as a potential successor to the global monetary system, is up about 37 percent against the U.S. dollar since the beginning of the year. The cryptocurrency went for about $313 at the beginning of the year, according to CoinDesk's composite price index, and is now changing hands at around $430. Those huge gains come after starting the year on rocky footing: Bitcoin dipped to below $175 in mid-January. But after a few false starts, the digital currency has been largely gaining ground since the beginning of October. (One of the few investment options with a comparable 2015 return is Argentina's benchmark Merval — up about 40 percent on the year. Although U.S. investors playing the Global X Argentina ETF would be disappointed by the fund's slight loss in 2015.) It's hard to say what's actually caused Bitcoin's rise during the last three months of 2015. In November, digital ecosystem observers told CNBC that a 70 percent one-month spike may have been caused in part by headlines like the Winklevoss twins launching their exchange and the Digital Currency Group announcing funding from Bain and MasterCard . Others suggested that the relatively lightly traded asset could have been jumping on speculators' fear of missing out (FOMO). For Brendan O'Connor, the CEO of bitcoin trading firm Genesis Global Trading, the year-end run up was the result of a series of positive trends for the asset. On the one hand, O'Connor said, funding announcements from bitcoin-related start-ups helped to establish the legitimacy of the sector — and its underlying technology. This has helped push institutional investors into making investments in both the digital token and the over-the-counter Bitcoin Investment Trust ( more on that ETF-like vehicle can be found here ). Story continues "They're looking for investments in non-correlated asset classes," O'Connor said, explaining that financial firms regularly come to his office to learn how to trade bitcoin. "I still think that by and large they're viewing it as a speculative investment, but I think that their willingness to test the waters has increased dramatically." Another important trend in the space has been the gradually increasing interest the technology — and it's negligible fee structure — for remittance payments and as a daily currency in monetarily challenged parts of the world, O'Connor said. That potential came to the forefront of the tech discussion during the summer's Greek crisis: When the country instituted capital controls in the face of increasingly dire eurozone negotiations, countless articles were written about bitcoin's potential for struggling citizens . It's unclear if those prophecies ever came to any real fruition, but investors in the space say the positive press coverage at least boosted awareness of bitcoin's potential. Finally, bitcoin may have simply benefited from the lack of any disastrous headlines. Many traders say the cryptocurrency has shed the pall of failed exchange Mt. Gox — which quickly shuttered in 2014 after saying it lost 850,000 bitcoins (worth about $365 million today). Bitcoin's fall from more than $1,150 near the end of 2013 to this January's $200 levels represented the asset's "long winter," according to economist Tuur Demeester, editor-in-chief of bitcoin-focused Adamant Research. The story of 2015, therefore, has been a bottoming out for the digital asset, and a climb to revaluation. Bitcoin's fall from its highs, Demeester said, was the result of "bubblicious" investing in 2013 (with some help from Mt. Gox). Pricing levels remained depressed for so long because companies had become over-leveraged, and so had been squeezed into heavy bitcoin selling, he said. As for 2016, Demeester suggested that the cryptocurrency could likely see another leg up as newly confident investors seek the right market valuation. "But," he said, "with bitcoin you have to expect to be surprised." More From CNBC Top News and Analysis Latest News Video Personal Finance \|\| Anarchists love 2015's best performing asset: Gold is down nearly 10 percent, major U.S. stock indexes are roughly flat and energy commodities have nearly all fallen more than 30 percent: It's been a tough year for investors. And while individual stocks have seen big pops on headlines, perhaps the best performing non-equity asset of the year is a favorite among crypto-anarchists. Bitcoin(: BTC=), the digital currency heralded as a potential successor to the global monetary system, is up about 37 percent against the U.S. dollar since the beginning of the year. The cryptocurrency went for about $313 at the beginning of the year, according to CoinDesk's composite price index, and is now changing hands at around $430. Those huge gains come after starting the year on rocky footing: Bitcoin dipped to below $175 in mid-January. But after a few false starts, the digital currency has been largely gaining ground since the beginning of October. (One of the few investment options with a comparable 2015 return is Argentina's benchmark Merval — up about 40 percent on the year. Although U.S. investors playing the Global X Argentina ETF would be disappointed by the fund's slight loss in 2015.) It's hard to say what's actually caused Bitcoin's rise during the last three months of 2015. In November,digital ecosystem observers told CNBCthat a 70 percent one-month spike may have been caused in part byheadlines like theWinklevoss twins launching their exchangeand the Digital Currency Groupannouncing fundingfrom Bain andMasterCard.Others suggestedthat the relatively lightly traded asset could have been jumping on speculators' fear of missing out (FOMO). For Brendan O'Connor, the CEO of bitcoin trading firm Genesis Global Trading, the year-end run up was the result of a series of positive trends for the asset. On the one hand, O'Connor said, funding announcements from bitcoin-related start-ups helped to establish the legitimacy of the sector — and its underlying technology. This has helped push institutional investors into making investments in both the digital token and the over-the-counter Bitcoin Investment Trust (more on that ETF-like vehicle can be found here). "They're looking for investments in non-correlated asset classes," O'Connor said, explaining that financial firms regularly come to his office to learn how to trade bitcoin. "I still think that by and large they're viewing it as a speculative investment, but I think that their willingness to test the waters has increased dramatically." Another important trend in the space has been the gradually increasing interest the technology — and it's negligible fee structure — for remittance payments and as a daily currency in monetarily challenged parts of the world, O'Connor said. That potential came to the forefront of the tech discussion during the summer's Greek crisis: When the country instituted capital controls in the face of increasingly dire eurozone negotiations,countlessarticleswerewrittenaboutbitcoin'spotentialforstrugglingcitizens. It's unclear if those prophecies ever came to any real fruition, but investors in the space say the positive press coverage at least boosted awareness of bitcoin's potential. Finally, bitcoin may have simply benefited from the lack of any disastrous headlines. Many traders say the cryptocurrency has shed the pall offailed exchange Mt. Gox— which quickly shuttered in 2014 after saying it lost 850,000 bitcoins (worth about $365 million today). Bitcoin's fall from more than $1,150 near the end of 2013 to this January's $200 levels represented the asset's "long winter," according to economist Tuur Demeester, editor-in-chief of bitcoin-focused Adamant Research. The story of 2015, therefore, has been a bottoming out for the digital asset, and a climb to revaluation. Bitcoin's fall from its highs, Demeester said, was the result of "bubblicious" investing in 2013 (with some help from Mt. Gox). Pricing levels remained depressed for so long because companies had become over-leveraged, and so had been squeezed into heavy bitcoin selling, he said. As for 2016, Demeester suggested that the cryptocurrency could likely see another leg up as newly confident investors seek the right market valuation. "But," he said, "with bitcoin you have to expect to be surprised." More From CNBC • Top News and Analysis • Latest News Video • Personal Finance \|\| 5 'Bold' Predictions For 2016: In a new report, Cup & Handle Macro analyst Michael Lingenheld revealed five bold market predictions for 2016. Here’s a breakdown of his list. 1. Revolution in a major emerging market Lingenheld believes that South Africa is the top target, but names Turkey, Indonesia, Malaysia, Saudi Arabia, Ukraine and Russia as other possibilities. All of these countries are currently suffering from large debt burdens, poor leadership and high youth unemployment. 2. Bitcoin outperforms all fiat currencies Lingenheld made this same prediction prior to 2015, and it came true. Bitcoin gained 35 percent in 2015, and he sees no reason why the cryptocurrency won’t outperform again in 2016. 3. A major currency peg will break Lingenheld notes that the IMF’s annual review of currency regimes revealed than only 35 percent of member countries let their currencies float as of the beginning of 2015. He adds that Middle Eastern countries suffering from low oil prices are top candidates, including Saudi Arabia, Kuwait and UAE. “Bringing down any of these pegs would be a major macro story, but a free-floating or devalued Hong Kong Dllar would be a monumental development,” Lingenheld explains. 4. Corn and wheat will each rally at least 20 percent Global stock-to-use ratios are at 16-year highs, and low gas prices have been a major boost for farmers. However, Lingenheld is not convinced that crop prices are high enough to drive a huge planting season in the spring. 5. A unicorn company will go bankrupt Lingenheld sees a shift in market enthusiasm for new tech companies, including the disappointingSquare Inc(NYSE:SQ) IPO pricing. He believes that the reality of competing with big tech companies likeAlphabet Inc(NASDAQ:GOOGL), Apple Inc.(NASDAQ:AAPL) andAmazon.com, Inc.(NASDAQ:AMZN) will start weighing heavily on smaller unicorn companies and their investors. Disclosure: the author holds no position in the stocks mentioned. Latest Ratings for AAPL [{"Dec 2015": "Dec 2015", "Cowen & Company": "Barclays", "Maintains": "Maintains", "": "", "Market Perform": "Overweight"}, {"Dec 2015": "Dec 2015", "Cowen & Company": "BMO Capital", "Maintains": "Initiates Coverage on", "": "", "Market Perform": "Outperform"}] View More Analyst Ratings for AAPLView the Latest Analyst Ratings See more from Benzinga • Apple's Chart Indicates A Tough Start To 2016 Ahead • CES 2016 Expected To Be Huge For Drones, Virtual Reality And Wearables • Apple Stock For ? How Fractional Investing Changes The Game © 2015 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. \|\| 5 'Bold' Predictions For 2016: In a new report, Cup & Handle Macro analyst Michael Lingenheld revealed five bold market predictions for 2016. Heres a breakdown of his list. 1. Revolution in a major emerging market Lingenheld believes that South Africa is the top target, but names Turkey, Indonesia, Malaysia, Saudi Arabia, Ukraine and Russia as other possibilities. All of these countries are currently suffering from large debt burdens, poor leadership and high youth unemployment. 2. Bitcoin outperforms all fiat currencies Lingenheld made this same prediction prior to 2015, and it came true. Bitcoin gained 35 percent in 2015, and he sees no reason why the cryptocurrency wont outperform again in 2016. 3. A major currency peg will break Lingenheld notes that the IMFs annual review of currency regimes revealed than only 35 percent of member countries let their currencies float as of the beginning of 2015. He adds that Middle Eastern countries suffering from low oil prices are top candidates, including Saudi Arabia, Kuwait and UAE. Bringing down any of these pegs would be a major macro story, but a free-floating or devalued Hong Kong Dllar would be a monumental development, Lingenheld explains. 4. Corn and wheat will each rally at least 20 percent Global stock-to-use ratios are at 16-year highs, and low gas prices have been a major boost for farmers. However, Lingenheld is not convinced that crop prices are high enough to drive a huge planting season in the spring. 5. A unicorn company will go bankrupt Lingenheld sees a shift in market enthusiasm for new tech companies, including the disappointing Square Inc (NYSE: SQ ) IPO pricing. He believes that the reality of competing with big tech companies like Alphabet Inc (NASDAQ: GOOGL ) , Apple Inc. (NASDAQ: AAPL ) and Amazon.com, Inc. (NASDAQ: AMZN ) will start weighing heavily on smaller unicorn companies and their investors. Disclosure: the author holds no position in the stocks mentioned. Latest Ratings for AAPL Dec 2015 Cowen & Company Maintains Market Perform Dec 2015 Barclays Maintains Overweight Dec 2015 BMO Capital Initiates Coverage on Outperform View More Analyst Ratings for AAPL View the Latest Analyst Ratings Story continues See more from Benzinga Apple's Chart Indicates A Tough Start To 2016 Ahead CES 2016 Expected To Be Huge For Drones, Virtual Reality And Wearables Apple Stock For ? How Fractional Investing Changes The Game © 2015 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. [Social Media Buzz] In the last 10 mins, there were arb opps spanning 14 exchange pair(s), yielding profits ranging between $0.00 and $398.59 #bitcoin #btc \|\| #RDD / #BTC on the exchanges: Cryptsy: 0.00000004 Bittrex: 0.00000004 Average $1.7E-5 per #reddcoin 02:00:01 via #p…pic.twitter.com/ewBLTT6DmE \|\| Current price: 394.99€ $BTCEUR $btc #bitcoin 2016-01-04 00:40:10 CET \|\| $429.53 at 00:45 UTC [24h Range: $424.06 - $434.09 Volume: 4545 BTC] \|\| LIVE: Profit = $282.79 (3.36 %). BUY B20.42 @ $420.00 (#VirCurex). SELL...	433.09, 431.96, 429.11, 458.05, 453.23, 447.61, 447.99, 448.43, 435.69, 432.37
Given the historical Bitcoin prices from the last 90 days, predict the next 10 daily closing prices. The historical prices are: 4098.37, 4106.66, 4105.40, 4158.18, 4879.88, 4973.02, 4922.80, 5036.68, 5059.82, 5198.90, 5289.77, 5204.96, 5324.55, 5064.49, 5089.54, 5096.59, 5167.72, 5067.11, 5235.56, 5251.94, 5298.39, 5303.81, 5337.89, 5314.53, 5399.37, 5572.36, 5464.87, 5210.52, 5279.35, 5268.29, 5285.14, 5247.35, 5350.73, 5402.70, 5505.28, 5768.29, 5831.17, 5795.71, 5746.81, 5829.50, 5982.46, 6174.53, 6378.85, 7204.77, 6972.37, 7814.92, 7994.42, 8205.17, 7884.91, 7343.90, 7271.21, 8197.69, 7978.31, 7963.33, 7680.07, 7881.85, 7987.37, 8052.54, 8673.22, 8805.78, 8719.96, 8659.49, 8319.47, 8574.50, 8564.02, 8742.96, 8209.00, 7707.77, 7824.23, 7822.02, 8043.95, 7954.13, 7688.08, 8000.33, 7927.71, 8145.86, 8230.92, 8693.83, 8838.38, 8994.49, 9320.35, 9081.76, 9273.52, 9527.16, 10144.56, 10701.69, 10855.37, 11011.10, 11790.92, 13016.23.	[Bitcoin Technical Analysis for 2019-06-26] Volume: 45105733173, RSI (14-day): 87.83, 50-day EMA: 8525.78, 200-day EMA: 6333.30 [Wider Market Context] Gold Price: 1411.60, Gold RSI: 81.50 Oil Price: 59.38, Oil RSI: 61.36 [Recent News (last 7 days)] What caused this weekend’s BTC price surge? Hourly trading volumes suggest the catalyst was large orders on Bitfinex: Between Friday evening and Saturday afternoon, the price of bitcoin increased by over 10% to breach the $11,000 milestone. Although there has been a lot of speculation as to what may have caused the seemingly spontaneous surge, analysis of the hourly exchange trading volumes implies it was induced by a large investor or set of large investors on Bitfinex. Timezone: UTC Source: CryptoCompare By examining the bitcoin trading volumes at the 10 exchanges vetted by Bitwise, we can see that trading activity went up fairly dramatically between Friday 11:00 p.m. UTC (7 p.m. EST) and Saturday 4 a.m. UTC (12 p.m. Join Genesis now and continue reading, What caused this weekend’s BTC price surge? Hourly trading volumes suggest the catalyst was large orders on Bitfinex ! \|\| What caused this weekend’s BTC price surge? Hourly trading volumes suggest the catalyst was large orders on Bitfinex: Between Friday evening and Saturday afternoon, the price of bitcoin increased by over 10% to breach the $11,000 milestone. Although there has been a lot of speculation as to what may have caused the seemingly spontaneous surge, analysis of the hourly exchange trading volumes implies it was induced by a large investor or set of large investors on Bitfinex. Timezone: UTC Source: CryptoCompare By examining the bitcoin trading volumes at the10 exchangesvetted by Bitwise, we can see that trading activity went up fairly dramatically between Friday 11:00 p.m. UTC (7 p.m. EST) and Saturday 4 a.m. UTC (12 p.m. Join Genesis nowand continue reading,What caused this weekend’s BTC price surge? Hourly trading volumes suggest the catalyst was large orders on Bitfinex! \|\| What caused this weekend’s BTC price surge? Hourly trading volumes suggest the catalyst was large orders on Bitfinex: Between Friday evening and Saturday afternoon, the price of bitcoin increased by over 10% to breach the $11,000 milestone. Although there has been a lot of speculation as to what may have caused the seemingly spontaneous surge, analysis of the hourly exchange trading volumes implies it was induced by a large investor or set of large investors on Bitfinex. Timezone: UTC Source: CryptoCompare By examining the bitcoin trading volumes at the10 exchangesvetted by Bitwise, we can see that trading activity went up fairly dramatically between Friday 11:00 p.m. UTC (7 p.m. EST) and Saturday 4 a.m. UTC (12 p.m. Join Genesis nowand continue reading,What caused this weekend’s BTC price surge? Hourly trading volumes suggest the catalyst was large orders on Bitfinex! \|\| CFTC trading data shows many are shorting CME bitcoin futures: Despite the recent bitcoin price spike, big traders are bearish, according to a report from the Wall Street Journal. The outlet reported data from the Commodity Futures Trading Commission showing managers holding 14% more short positions in CME bitcoin futures last week than long positions. Other firms, neither money managers nor small investors, also held three times as many short positions, according to the report. Futures allow traders to bet on the rise and fall of an asset, so the increase of short positions indicates an overall bearish attitude by big players. However, bitcoin has risen above $11,000, indicating there is some optimism. The CFTC report showed small investors held more long positions. The demographic of investors with fewer than 25 BTC contracts showed four times as many long positions. That report was released Friday, with data reflecting when bitcoin was hovering around $9,000. \|\| CFTC trading data shows many are shorting CME bitcoin futures: Despite the recent bitcoin price spike, big traders are bearish, according to a report from the Wall Street Journal. The outlet reported data from the Commodity Futures Trading Commission showing managers holding 14% more short positions in CME bitcoin futures last week than long positions. Other firms, neither money managers nor small investors, also held three times as many short positions, according to the report. Futures allow traders to bet on the rise and fall of an asset, so the increase of short positions indicates an overall bearish attitude by big players. However, bitcoin has risen above $11,000, indicating there is some optimism. The CFTC report showed small investors held more long positions. The demographic of investors with fewer than 25 BTC contracts showed four times as many long positions. That report was released Friday, with data reflecting when bitcoin was hovering around $9,000. \|\| Facebook's Libra cryptocurrency faces questions from international regulators: Photograph: Dado Ruvić/Reuters Facebook’s Libra cryptocurrency is facing increasing skepticism from international regulators days after ambitious plans for it were unveiled by the social media company. On Tuesday, Randal Quarles, chair of the Financial Stability Board (FSB), a policy coordinator for G20 countries, said Facebook’s plan to expand into retail payments could lead regulators to take a closer look at such financial instruments . Quarles’s comments mark the first time a senior US regulator has spoken of how they might approach Libra, which aims to transform the global payments markets. Related: Bitcoin passes $11,000 on news of Facebook's cryptocurrency plan Quarles said that while the board did not plan to discuss the issue at this week’s G20 summit in Japan and “crypto-assets” like Libra did not currently pose a risk to global financial stability, he envisioned gaps where they fall outside the remit of regulators and the oversight of international standards. “A wider use of new types of crypto-assets for retail payment purposes would warrant close scrutiny by authorities to ensure that they are subject to high standards of regulation,” Quarles said in a letter released ahead of the summit and first reported by Reuters . Quarles added: “The FSB and standard setting bodies will monitor risks very closely and in a coordinated fashion, and consider additional multilateral responses as needed.” The remarks follow an agreement in March 2018 by G20 finance ministers and central bankers to monitor crypto-assets. The FSB has said if Libra takes off, a different regulatory response will be needed. Quarles’s remarks follow a statement from the Bank for International Settlements on Sunday that politicians need to move rapidly to coordinate regulatory responses to any new risks. The FSB’s interjection over Facebook’s Libra, which is backed by more than 20 international institutions including Visa, Mastercard, PayPal and Uber and could launch as soon as next year, come as the UK’s Financial Conduct Authority said it would not allow the social media company to use the digital currency without close scrutiny. Story continues Andrew Bailey, the head of the UK’s FCA, confirmed on Tuesday that the organization was working with the UK Treasury and the Bank of England to monitor Facebook’s plans. “We will have to engage domestically and internationally, with Facebook and this other [Libra] organisation. They are not going to walk through authorisation without that,” Mr Bailey told a Treasury select committee. The FSB and the FCA have joined Mark Carney, governor of the Bank of England, in alerting Facebook that if its plan to attract users to a new currency are successful “it would instantly become systemic and will have to be subject to the highest standards of regulation”. The European Union’s head of financial stability, Olivier Guersent, said ahead of Libra’s unveiling that Facebook’s potential concentration of both personal and financial data needed attention from regulators. \|\| Facebook's Libra cryptocurrency faces questions from international regulators: Photograph: Dado Ruvić/Reuters Facebook’s Libra cryptocurrency is facing increasing skepticism from international regulators days after ambitious plans for it were unveiled by the social media company. On Tuesday, Randal Quarles, chair of the Financial Stability Board (FSB), a policy coordinator for G20 countries, said Facebook’s plan to expand into retail payments could lead regulators to take a closer look at such financial instruments . Quarles’s comments mark the first time a senior US regulator has spoken of how they might approach Libra, which aims to transform the global payments markets. Related: Bitcoin passes $11,000 on news of Facebook's cryptocurrency plan Quarles said that while the board did not plan to discuss the issue at this week’s G20 summit in Japan and “crypto-assets” like Libra did not currently pose a risk to global financial stability, he envisioned gaps where they fall outside the remit of regulators and the oversight of international standards. “A wider use of new types of crypto-assets for retail payment purposes would warrant close scrutiny by authorities to ensure that they are subject to high standards of regulation,” Quarles said in a letter released ahead of the summit and first reported by Reuters . Quarles added: “The FSB and standard setting bodies will monitor risks very closely and in a coordinated fashion, and consider additional multilateral responses as needed.” The remarks follow an agreement in March 2018 by G20 finance ministers and central bankers to monitor crypto-assets. The FSB has said if Libra takes off, a different regulatory response will be needed. Quarles’s remarks follow a statement from the Bank for International Settlements on Sunday that politicians need to move rapidly to coordinate regulatory responses to any new risks. The FSB’s interjection over Facebook’s Libra, which is backed by more than 20 international institutions including Visa, Mastercard, PayPal and Uber and could launch as soon as next year, come as the UK’s Financial Conduct Authority said it would not allow the social media company to use the digital currency without close scrutiny. Story continues Andrew Bailey, the head of the UK’s FCA, confirmed on Tuesday that the organization was working with the UK Treasury and the Bank of England to monitor Facebook’s plans. “We will have to engage domestically and internationally, with Facebook and this other [Libra] organisation. They are not going to walk through authorisation without that,” Mr Bailey told a Treasury select committee. The FSB and the FCA have joined Mark Carney, governor of the Bank of England, in alerting Facebook that if its plan to attract users to a new currency are successful “it would instantly become systemic and will have to be subject to the highest standards of regulation”. The European Union’s head of financial stability, Olivier Guersent, said ahead of Libra’s unveiling that Facebook’s potential concentration of both personal and financial data needed attention from regulators. \|\| Global Coin Research: Top news in Asia from the weekend to today: This twice-weekly newsletter is republished with permission from Global Coin Research, a global research firm with a focus on Asia blockchain and related technologies. You can find more resources on Asia Cryptocurrency and Blockchain at GlobalCoinResearch.com and on Twitter at @globalcoinrsrch Top News in Asia from Saturday to Today Binance Chain gaining traction: -Blockchain ride-hailing app Tada to switch from Ethereum onto Binance chain. Source - A portion of MEET.ONE-Pegged Token will be migrating to Binance Chain, which will mark the first $EOS token on the Finance DEX. Source Bitmain, along with Ebang , the world’s third-largest bitcoin mining machine maker, are reportedly considering an initial public offering (IPO) in the U.S. after their Hong Kong plan flopped. Source: Bitmain , Ebang Malaysia has launched a work visa program for Blockchain Tech Professionals. Source Most Clicked on From the Last Newsletter Highlights and Excerpts from Neo Global Capital’s All-Weather Investment Strategy for Crypto. Source Amber AI’s cheat sheet for Algorand’s Dutch Auction. Source Xfers, backed by 500 Startups, Golden Gate Ventures and Facebook co-founder Eduardo Saverin, will make use of Zilliqa’s recently launched smart contracts to make payments more efficient and transparent for Xfers 500,000 users. Source Events coming up in Asia StakingCon is taking place in July 10th in Beijing- with Algorand, Cardano, Tezos, Dash, NEM, IRISnet, VSYS, Edgeware, AELF, MultiVAC, Near Protocol, Decred. Source Complimentary tickets are available to KryptoSeoul for BUIDL 2019 on July 22nd and 23rd, a technical and business forum held at Novotel Ambassador Gangnam. We have partnered up with the team to bring premium subscribers complimentary tickets to the conference, while supplies last. Complimentary tickets are available for our premium subscribers to Asian Blockchain Chain in Taipei in July 2&3, while supplies last. New speakers include Justin Sun, CZ and Arthur Hayes. Story continues Exchange News Korean exchange Bithumb announces plans to start of EOS blockchain voting. The report says that Koreans own about 10% of EOS tokens and Bithumb owns the most out of all the Korean exchanges. Source Coins and Mining Wal-mart China announced the creation of a Blockchain Food Safety and Traceability Platform alongside partners VeChain, PwC, China Chain Store and Franchise Association. Wal-Mart will use VeChain’s blockchain technology to verify products along the supply chain, increasing consumer trust. Source IRISnet, a Chinese based project and also a hub built on Tendermint, announced a One-year Token Burning Plan. Source Business Chinese blockchain game developer launches cloud-based integrated development environment (IDE) tool to access the Libra Move language, supposedly reducing compiling time from 1 hour to 3 minutes. Source Bitcoin Arbitrage Scams Run Rampant in China with Over 15,000 ETH Swindled in “Huobi Arbitrage Scam”. Source China says will not allow Hong Kong issue to be discussed at G20 summit. Source The Japanese community's view on Libra. Source Global Coin Research founder Joyce Yang gave a talk about how to think about go-to-market in Asia, and shared some insight and resources to help folks see the opportunities and happenings in Asia. Source Regulations Korea regulators announce that if Korean virtual currency exchanges fail to comply with the FATF virtual currency regulatory guidelines, their business license will be canceled. The bill is under review and is expected to be implemented in the second half of next year. Source Russian Central Bank official: Fraudsters ‘very rarely’ use crypto to withdraw stolen funds. Source Hong Kong cryptocurrency exchanges and custodians are seeking out insurance to cover the risks of hacking and theft, in an effort to comply with future regulation by the city’s securities watchdog to provide full protection for client assets. Source \|\| Global Coin Research: Top news in Asia from the weekend to today: This twice-weekly newsletter is republished with permission from Global Coin Research, a global research firm with a focus on Asia blockchain and related technologies. You can find more resources on Asia Cryptocurrency and Blockchain at GlobalCoinResearch.com and on Twitter at @globalcoinrsrch Binance Chain gaining traction:-Blockchain ride-hailing app Tada to switch from Ethereum onto Binance chain.Source- A portion of MEET.ONE-Pegged Token will be migrating to Binance Chain, which will mark the first$EOStoken on the Finance DEX.Source Bitmain, along with Ebang, the world’s third-largest bitcoin mining machine maker, are reportedly considering an initial public offering (IPO) in the U.S. after their Hong Kong plan flopped.Source:Bitmain,Ebang Malaysia has launched a work visa programfor Blockchain Tech Professionals.Source Highlights and Excerpts from Neo Global Capital’sAll-Weather Investment Strategy for Crypto.Source Amber AI’s cheat sheetfor Algorand’s Dutch Auction.Source Xfers, backed by 500 Startups,Golden Gate Ventures and Facebook co-founder Eduardo Saverin, will make use of Zilliqa’s recently launched smart contracts to make payments more efficient and transparent for Xfers 500,000 users.Source StakingConis taking place in July 10th in Beijing- with Algorand, Cardano, Tezos, Dash, NEM, IRISnet, VSYS, Edgeware, AELF, MultiVAC, Near Protocol, Decred.Source Complimentary tickets are available to KryptoSeoulforBUIDL 2019on July 22nd and 23rd, a technical and business forum held at Novotel Ambassador Gangnam. We have partnered up with the team to bring premium subscribers complimentary tickets to the conference, while supplies last. Complimentary tickets are available for our premium subscribers to Asian Blockchain Chain in Taipeiin July 2&3, while supplies last. New speakers include Justin Sun, CZ and Arthur Hayes. Korean exchange Bithumb announcesplans to start of EOS blockchain voting. The report says that Koreans own about 10% of EOS tokens and Bithumb owns the most out of all the Korean exchanges.Source Wal-mart China announced the creation of a BlockchainFood Safety and Traceability Platform alongside partners VeChain, PwC, China Chain Store and Franchise Association. Wal-Mart will use VeChain’s blockchain technology to verify products along the supply chain, increasing consumer trust.Source IRISnet, a Chinese based project and also a hub built on Tendermint, announced a One-year Token Burning Plan.Source Chinese blockchain game developer launchescloud-based integrated development environment (IDE) tool to access the Libra Move language, supposedly reducing compiling time from 1 hour to 3 minutes.Source Bitcoin Arbitrage Scams Run Rampantin China with Over 15,000 ETH Swindled in “Huobi Arbitrage Scam”.Source China says will not allow Hong Kong issueto be discussed at G20 summit.Source The Japanese community'sview on Libra.Source Global Coin Research founder Joyce Yanggave a talk about how to think about go-to-market in Asia, and shared some insight and resources to help folks see the opportunities and happenings in Asia.Source Korea regulators announce that if Korean virtual currency exchangesfail to comply with the FATF virtual currency regulatory guidelines, their business license will be canceled. The bill is under review and is expected to be implemented in the second half of next year.Source Russian Central Bank official:Fraudsters ‘very rarely’ use crypto to withdraw stolen funds.Source Hong Kong cryptocurrency exchanges and custodiansare seeking out insurance to cover the risks of hacking and theft, in an effort to comply with future regulation by the city’s securities watchdog to provide full protection for client assets.Source \|\| Most Interesting ETF Filing Ever: Libra: My interest in cryptocurrency and bitcoin has been tangential. It’s this thing happening on the edge of my experience, but not something I interact with much daily. As a tech nerd, however, I’ve been drawn to the technology underneath it, and as a finance nerd, I’ve been intrigued by the whole Sartre-esque “what is money anyway?” dialogue it’s created. I initially dismissed the filing by Facebook et al. around Libra. I skimmed some press coverage and moved on with my day. But this weekend I dug deeper, and ran across this passage from the Libra white paper : “Users will not directly interface with the reserve. Rather, to support higher efficiency, there will be authorized resellers who will be the only entities authorized by the association to transact large amounts of fiat and Libra in and out of the reserve. These authorized resellers will integrate with exchanges and other institutions that buy and sell cryptocurrencies to users, and will provide these entities with liquidity for users who wish to convert from cash to Libra and back again.” Accidental ETF “Huh,” I thought. “That sounds a lot like creation and redemption in an ETF !” Reading further, it became clearer and clearer that that’s actually what Libra is: an actively managed ETF that will invest in a basket of currencies based on a set of investment objectives. In this sense, it’s exactly like the WisdomTree Emerging Currency Strategy Fund (CEW) . CEW does, quite literally, the exact same thing Libra is planning on doing, with a few exceptions: CEW charges a 0.55% expense ratio. Libra does not have a fee embedded in its valuation peg to its basket. CEW invests in short-term instruments in each currency, and holders of CEW gain that interest. Libra invests in short-term instruments in each currency, but the foundation keeps all the interest to fund operations. CEW is a 1940 Act-regulated ETF, that trades on regulated exchanges, which customers access through regulated broker-dealers, and whose assets are stored with regulated custodians. Nobody has any idea what Libra is, how its exchange for goods and services (or dollars) will be regulated, how customer access points will be regulated, or how custodians will be regulated. Story continues Knowing that I’m rarely the first one to the party on ideas like this, I started reading everything I could find. There’s a lot out there, including the obligatory Financial Times vitriol , but after some digging, I stumbled across this post from David Weisberger on Medium, in which he also got the ETF connection: “In fact, it is so much like an ETF, I would be stunned if the SEC does not at least contemplate asserting that it has jurisdiction over the market for Libra tokens.” Regulatory Octopus Here, Weisberger is getting right to the heart of the matter, and it’s so blatant and obvious that I have to imagine this is intended. Facebook, PayPal and Visa are not slouches when it comes to managing regulators. I’d argue they’re consummate pros: Super Bowl contenders. They know what they’re doing. One possibility is that Facebook et al., have already figured out the regulatory angle by which they think they will be able to dance through the securities registration minefield. For instance, you can avoid becoming a registered investment company if you stay underneath a specific threshold of owning securities; if Libra aggressively limits its exposure to bonds and other assets, and mostly holds currencies, it could avoid (at least) the ’40 Act (although it would limit the income earned for the foundation). Big Hill To Climb, But Here’s A Path Even then, though, questions related to the 1933 Act, potential classification as demand notes, and considerations related to CFTC regulation of the token as a swap still exist. One way or another, it won’t be easy. And as it stands now, the baseline interpretation of what’s actually written in the filing (I mean “white paper”) is simply: “Libra is just CEW in sheep’s clothing.” So what does that mean? For starters, I don’t think that means it’s dead. I actually think it’s much more interesting. If Libra is, at core, just an ETF, it’s a relatively easy cleanup to file it as such, formally. The ’40 Act bits aren’t hard; the hard part is trading. By definition, Libra is intended to be exchanged 1-to-1. The whole point is that I’ll be able to use Libra the same way I use cash. In that sense, having a wallet with 100 Libra in it is supposed to be very much like having a wallet with a $100 PayPal balance (or if you’re transacting in Chinese renminbi, Alipay). Libra’s Exciting Element Libra envisions making these transactions seamless and registered on the blockchain. So for example, right now, I don’t have a way to hand Amazon a share of the SPDR S&P 500 ETF Trust (SPY) in exchange for a bunch of books and sunscreen and groceries. Libra envisions a world where I can directly do just that. This is why it’s so exciting. Not because I want to use a lot of Libra in my day-to-day life, but because it opens up a regulatory discussion about a radically improved way of moving a security from pocket A to pocket B. Whatever regulatory solution the Libra consortium comes up with (and there’s going to be a lot of money pushing for a solution), it strikes me that it could have far-reaching implications well beyond digital currencies. Any solution that works for Libra nearly has to work for CEW, or SPY or any other ETF. After all, ETFs are just baskets of things that we value. And the only reason we have to trade through brokers and exchanges, and settle overnight through the National Securities Clearing Corp. is because the system evolved that way from the Great Depression, one deprecated slip of paper at a time. Other Tilts At This Windmill Discussions abound of all the other ways folks are trying to crack this nut—to become “the new dollar” in consumers’ or corporations’ lives. Special drawing rights (SDRs) get brought up in almost every conversation. SDRs are issued by the International Monetary Fund, and are, like Libra, an actively managed basket of securities. But that’s where the similarity ends: They’re nontransactional, and it’s the transactional piece of this that’s where all the interesting bits are. What else do we know about Libra and its place in the crypto firmament? Well, it’s not “its own currency” in the way bitcoin (and its countless variants and copycats) are. Bitcoin is a nonfiat currency; a kind of digital gold whose primary value (to me) seems to be its disconnection from central banking and other governmental oversight. That’s fine for what it is, but the inherent value fluctuations and basis risk that come with standing apart from fiat backing will always be a huge barrier to entry to bitcoin gaining traction as a primary means of exchange. No ‘Stablecoin’ Libra is also not a “stablecoin,” the portmanteau used to cover things like Tether. If nothing else, Tether showed the dangers of one firm just deciding how things work, without any regulatory oversight or transparency. Tether promised to have its cryptocoin backed by dollars held in reserve, but, well, not so much . I gather Tether is still a going concern, but I lost track of the countless court proceedings that have resulted from that flawed claim. It’s also not a debt instrument—there’s no “promise to pay” here. There’s a “promise to exchange” from a held basket. The rights of unit holders and the mechanisms for dispute resolution and so on are all still very vague, but ultimately, it’s inconceivable to me these don’t end up being … you guessed it … just a fund. An everyday, plain old fund. The closest example to something like this has been the success of M-Pesa , a global payment system originally started in Kenya that has spread geographically throughout the region. Unlike Libra, however, M-Pesa is actually, really, just a mobile banking system, which has special licenses from regulators to act as a banking system. In other words, the need for a digital transaction solution forced the regulators to make room for the future, which sounds, well, promising. Predictions? We Got ’Em This may make Libra seems like a far-fetched, not-gonna-happen idea, but I don’t think so. I really think it’s just a matter of timing, not feasibility. There’s nothing technically all that tricky about what Libra is proposing. Essentially all of the hurdles are either adoption related (which, having already grabbed Facebook and Visa as backers, seems pretty well in hand) or regulatory in nature. It’s certainly possible that U.S. regulators just pooh-pooh the whole thing; in which case, Libra can simply restrict access by geography and say, “Sorry, this ain’t a U.S. thing; never mind.” That would be super unfortunate, ceding more ground to international players (which is already happening; you can use Alipay at Walgreens!). To me, it’s far more likely this is the beginning of a much-needed and really interesting conversation about the role of money in the modern world. That’s the right discussion to be having in Washington, and Libra is a big enough initiative to put it on the agenda. For that reason, as much as I’m wary of Facebook, in this case, I for one welcome our new crypto overlords. Contact Dave Nadig at [email protected] Recommended Stories Hot Reads: Fidelity Steps Up Vanguard Fee War ETF Prime Podcast: Bitcoin Debate Live Chat: 2019's ETF Surprises Hot Reads: Big Investors Want Smart Beta Permalink \| © Copyright 2019 ETF.com. All rights reserved \|\| Most Interesting ETF Filing Ever: Libra: My interest in cryptocurrency and bitcoin has been tangential. It’s this thing happening on the edge of my experience, but not something I interact with much daily. As a tech nerd, however, I’ve been drawn to the technology underneath it, and as a finance nerd, I’ve been intrigued by the whole Sartre-esque “what is money anyway?” dialogue it’s created. I initially dismissed the filing by Facebook et al. around Libra. I skimmed some press coverage and moved on with my day. But this weekend I dug deeper, and ran across this passage from theLibra white paper: “Users will not directly interface with the reserve. Rather, to support higher efficiency, there will be authorized resellers who will be the only entities authorized by the association to transact large amounts of fiat and Libra in and out of the reserve. These authorized resellers will integrate with exchanges and other institutions that buy and sell cryptocurrencies to users, and will provide these entities with liquidity for users who wish to convert from cash to Libra and back again.” Accidental ETF “Huh,” I thought. “That sounds a lot likecreation and redemption in an ETF!” Reading further, it became clearer and clearer that that’s actually what Libra is: an actively managed ETF that will invest in a basket of currencies based on a set of investment objectives. In this sense, it’s exactly like theWisdomTree Emerging Currency Strategy Fund (CEW). CEW does, quite literally, the exact same thing Libra is planning on doing, with a few exceptions: • CEW charges a 0.55% expense ratio. Libra does not have a fee embedded in its valuation peg to its basket. • CEW invests in short-term instruments in each currency, and holders of CEW gain that interest. Libra invests in short-term instruments in each currency, but the foundation keeps all the interest to fund operations. • CEW is a 1940 Act-regulated ETF, that trades on regulated exchanges, which customers access through regulated broker-dealers, and whose assets are stored with regulated custodians. Nobody has any idea what Libra is, how its exchange for goods and services (or dollars) will be regulated, how customer access points will be regulated, or how custodians will be regulated. Knowing that I’m rarely the first one to the party on ideas like this, I started reading everything I could find. There’s a lot out there, including theobligatory Financial Times vitriol, but after some digging, I stumbled acrossthis postfrom David Weisberger on Medium, in which he also got the ETF connection: “In fact, it is so much like an ETF, I would be stunned if the SEC does not at least contemplate asserting that it has jurisdiction over the market for Libra tokens.” Regulatory Octopus Here, Weisberger is getting right to the heart of the matter, and it’s so blatant and obvious that I have to imagine this is intended. Facebook, PayPal and Visa are not slouches when it comes to managing regulators. I’d argue they’re consummate pros: Super Bowl contenders. They know what they’re doing.One possibility is that Facebook et al., have already figured out the regulatory angle by which they think they will be able to dance through the securities registration minefield. For instance, you can avoid becoming a registered investment company if you stay underneath a specific threshold of owning securities; if Libra aggressively limits its exposure to bonds and other assets, and mostly holds currencies, it could avoid (at least) the ’40 Act (although it would limit the income earned for the foundation). Big Hill To Climb, But Here’s A Path Even then, though, questions related to the 1933 Act, potential classification as demand notes, and considerations related to CFTC regulation of the token as a swap still exist. One way or another, it won’t be easy. And as it stands now, the baseline interpretation of what’s actually written in the filing (I mean “white paper”) is simply: “Libra is just CEW in sheep’s clothing.” So what does that mean? For starters, I don’t think that means it’s dead. I actually think it’s much more interesting. If Libra is, at core, just an ETF, it’s a relatively easy cleanup to file it as such, formally. The ’40 Act bits aren’t hard; the hard part is trading. By definition, Libra is intended to be exchanged 1-to-1. The whole point is that I’ll be able to use Libra the same way I use cash. In that sense, having a wallet with 100 Libra in it is supposed to be very much like having a wallet with a $100 PayPal balance (or if you’re transacting in Chinese renminbi, Alipay). Libra’s Exciting Element Libra envisions making these transactions seamless and registered on the blockchain. So for example, right now, I don’t have a way to hand Amazon a share of theSPDR S&P 500 ETF Trust (SPY)in exchange for a bunch of books and sunscreen and groceries. Libra envisions a world where I can directly do just that. This is why it’s so exciting. Not because I want to use a lot of Libra in my day-to-day life, but because it opens up a regulatory discussion about a radically improved way of moving a security from pocket A to pocket B. Whatever regulatory solution the Libra consortium comes up with (and there’s going to be a lot of money pushing for a solution), it strikes me that it could have far-reaching implications well beyond digital currencies. Any solution that works for Libra nearly has to work for CEW, or SPY or any other ETF. After all, ETFs are just baskets of things that we value. And the only reason we have to trade through brokers and exchanges, and settle overnight through the National Securities Clearing Corp. is because the system evolved that way from the Great Depression, one deprecated slip of paper at a time. Other Tilts At This Windmill Discussions abound of all the other ways folks are trying to crack this nut—to become “the new dollar” in consumers’ or corporations’ lives. Special drawing rights (SDRs) get brought up in almost every conversation. SDRs are issued by the International Monetary Fund, and are, like Libra, an actively managed basket of securities. But that’s where the similarity ends: They’re nontransactional, and it’s the transactional piece of this that’s where all the interesting bits are. What else do we know about Libra and its place in the crypto firmament? Well, it’s not “its own currency” in the way bitcoin (and its countless variants and copycats) are. Bitcoinisa nonfiat currency; a kind of digital gold whose primary value (to me) seems to be its disconnection from central banking and other governmental oversight. That’s fine for what it is, but the inherent value fluctuations and basis risk that come with standing apart from fiat backing will always be a huge barrier to entry to bitcoin gaining traction as a primary means of exchange. No ‘Stablecoin’ Libra is also not a “stablecoin,” the portmanteau used to cover things like Tether. If nothing else, Tether showed the dangers of one firm just deciding how things work, without any regulatory oversight or transparency. Tether promised to have its cryptocoin backed by dollars held in reserve, but, well,not so much. I gather Tether is still a going concern, but I lost track of thecountless court proceedingsthat have resulted from that flawed claim. It’s also not a debt instrument—there’s no “promise to pay” here. There’s a “promise to exchange” from a held basket. The rights of unit holders and the mechanisms for dispute resolution and so on are all still very vague, but ultimately, it’s inconceivable to me these don’t end up being … you guessed it … just a fund. An everyday, plain old fund. The closest example to something like this has been the success ofM-Pesa, a global payment system originally started in Kenya that has spread geographically throughout the region. Unlike Libra, however, M-Pesa is actually, really, just a mobile banking system, which has special licenses from regulators to act as a banking system. In other words, the need for a digital transaction solution forced the regulators to make room for the future, which sounds, well, promising. Predictions? We Got ’Em This may make Libra seems like a far-fetched, not-gonna-happen idea, but I don’t think so. I really think it’s just a matter of timing, not feasibility. There’s nothing technically all that tricky about what Libra is proposing. Essentially all of the hurdles are either adoption related (which, having already grabbed Facebook and Visa as backers, seems pretty well in hand) or regulatory in nature. It’s certainly possible that U.S. regulators just pooh-pooh the whole thing; in which case, Libra can simply restrict access by geography and say, “Sorry, this ain’t a U.S. thing; never mind.” That would be super unfortunate, ceding more ground to international players (which is already happening; you can use Alipay at Walgreens!). To me, it’s far more likely this is the beginning of a much-needed and really interesting conversation about the role of money in the modern world. That’s the right discussion to be having in Washington, and Libra is a big enough initiative to put it on the agenda. For that reason, as much as I’m wary of Facebook, in this case, I for one welcome our new crypto overlords. Contact Dave Nadig [email protected] Recommended Stories • Hot Reads: Fidelity Steps Up Vanguard Fee War • ETF Prime Podcast: Bitcoin Debate • Live Chat: 2019's ETF Surprises • Hot Reads: Big Investors Want Smart Beta Permalink\| © Copyright 2019ETF.com.All rights reserved \|\| Square Is Expanding Access to Bitcoin Deposits for Cash App Users: UPDATE (June 26, 2019 17:50 UTC):Cash Appformally announcedthat customers can deposit bitcoin directly to their accounts on Wednesday. Payments company Square is rolling out bitcoin deposits for its mobile Cash App. The app, available on both Android and iOS, now supports deposits for at least some users, according toTwitter posts by bitcoinersand a check by a CoinDesk reporter of his own Square account Tuesday. Previously, users could purchase or sell bitcoin, as well as transfer the cryptocurrency to another wallet. Related:Above $13K: Bitcoin’s Price Extends 2019 Gains to New 17-Month High Square first began allowing select Cash App users to purchase and sell bitcoinin November 2017, announcing afew months laterthat it would roll that feature out to all users. It is unclear how long Square has been adding the deposit feature; as of press time, not every Cash App user had the ability to deposit bitcoin. Podcaster Marty Benttweeted a screenshotindicating he could accept deposits on June 18, suggesting that the company may be releasing this feature to a select audience in advance of a full lunch. According toa support pageon Square’s website, “support for bitcoin deposits to third-party wallets is coming soon.” Related:Bitcoin’s Price Is Up 43% in 7 Days as Bull Frenzy Grips Market “In the meantime, you can transfer profits from selling bitcoin to any bank account or debit card linked to your Cash App,” the page says. The company itself has been investing heavily into bitcoin and its ecosystem, bringing in$65.5 million in revenuethrough the world’s largest cryptocurrency by market cap in the first quarter of 2019 alone (though the actual profit was a more modest $832,000). Square Crypto, the company’s new bitcoin-focused arm, is also hiring developers to specifically develop tools for thebitcoin blockchain. FormerGoogle director Steve Leewas recently named as the first new hire for this team, though his role has not yet been specified. Square CEOJack Dorsey– who also founded the social media giant Twitter – has long been a proponent of the cryptocurrency, having said in the past that he expects it to becomethe world’s currency. Square did not immediately respond to a request for comment. Image via CoinDesk archives • Bitcoin Price Hits 17-Month High Above $12.9K • Tim Draper Is Bullish On Argentina’s Blockchain Tech Potential \|\| Square Is Expanding Access to Bitcoin Deposits for Cash App Users: UPDATE (June 26, 2019 17:50 UTC):Cash Appformally announcedthat customers can deposit bitcoin directly to their accounts on Wednesday. Payments company Square is rolling out bitcoin deposits for its mobile Cash App. The app, available on both Android and iOS, now supports deposits for at least some users, according toTwitter posts by bitcoinersand a check by a CoinDesk reporter of his own Square account Tuesday. Previously, users could purchase or sell bitcoin, as well as transfer the cryptocurrency to another wallet. Related:Above $13K: Bitcoin’s Price Extends 2019 Gains to New 17-Month High Square first began allowing select Cash App users to purchase and sell bitcoinin November 2017, announcing afew months laterthat it would roll that feature out to all users. It is unclear how long Square has been adding the deposit feature; as of press time, not every Cash App user had the ability to deposit bitcoin. Podcaster Marty Benttweeted a screenshotindicating he could accept deposits on June 18, suggesting that the company may be releasing this feature to a select audience in advance of a full lunch. According toa support pageon Square’s website, “support for bitcoin deposits to third-party wallets is coming soon.” Related:Bitcoin’s Price Is Up 43% in 7 Days as Bull Frenzy Grips Market “In the meantime, you can transfer profits from selling bitcoin to any bank account or debit card linked to your Cash App,” the page says. The company itself has been investing heavily into bitcoin and its ecosystem, bringing in$65.5 million in revenuethrough the world’s largest cryptocurrency by market cap in the first quarter of 2019 alone (though the actual profit was a more modest $832,000). Square Crypto, the company’s new bitcoin-focused arm, is also hiring developers to specifically develop tools for thebitcoin blockchain. FormerGoogle director Steve Leewas recently named as the first new hire for this team, though his role has not yet been specified. Square CEOJack Dorsey– who also founded the social media giant Twitter – has long been a proponent of the cryptocurrency, having said in the past that he expects it to becomethe world’s currency. Square did not immediately respond to a request for comment. Image via CoinDesk archives • Bitcoin Price Hits 17-Month High Above $12.9K • Tim Draper Is Bullish On Argentina’s Blockchain Tech Potential \|\| Square Is Expanding Access to Bitcoin Deposits for Cash App Users: UPDATE (June 26, 2019 17:50 UTC): Cash App formally announced that customers can deposit bitcoin directly to their accounts on Wednesday. Payments company Square is rolling out bitcoin deposits for its mobile Cash App. The app, available on both Android and iOS, now supports deposits for at least some users, according to Twitter posts by bitcoiners and a check by a CoinDesk reporter of his own Square account Tuesday. Previously, users could purchase or sell bitcoin, as well as transfer the cryptocurrency to another wallet. Related: Above $13K: Bitcoins Price Extends 2019 Gains to New 17-Month High Square first began allowing select Cash App users to purchase and sell bitcoin in November 2017 , announcing a few months later that it would roll that feature out to all users. It is unclear how long Square has been adding the deposit feature; as of press time, not every Cash App user had the ability to deposit bitcoin. Podcaster Marty Bent tweeted a screenshot indicating he could accept deposits on June 18, suggesting that the company may be releasing this feature to a select audience in advance of a full lunch. According to a support page on Squares website, support for bitcoin deposits to third-party wallets is coming soon. Related: Bitcoins Price Is Up 43% in 7 Days as Bull Frenzy Grips Market In the meantime, you can transfer profits from selling bitcoin to any bank account or debit card linked to your Cash App, the page says. The company itself has been investing heavily into bitcoin and its ecosystem, bringing in $65.5 million in revenue through the worlds largest cryptocurrency by market cap in the first quarter of 2019 alone (though the actual profit was a more modest $832,000). Square Crypto, the companys new bitcoin-focused arm, is also hiring developers to specifically develop tools for the bitcoin blockchain . Former Google director Steve Lee was recently named as the first new hire for this team, though his role has not yet been specified. Story continues Square CEO Jack Dorsey who also founded the social media giant Twitter has long been a proponent of the cryptocurrency, having said in the past that he expects it to become the worlds currency . Square did not immediately respond to a request for comment. Image via CoinDesk archives Related Stories Bitcoin Price Hits 17-Month High Above $12.9K Tim Draper Is Bullish On Argentinas Blockchain Tech Potential \|\| Ex-Trump Economist Joins ‘Crypto Central Bank’ After Failed Fed Bid: Stephen Moore, who recently rescinded his bid to join the Federal Reserve, announced plans to start his own cryptocurrency-based mini-Fed – billed as “the world’s decentralized central bank,” according toFox Business. A pitch deck sent exclusively to Fox allegedly said Moore has teamed with a group of unnamed entrepreneurs to develop a “central bank” – ironically called “Decentral” – aimed at reducing the volatility among digital currencies. The bank will attempt to regulate the supply of crypto, just as the Fed controls monetary policy in the U.S. It will exchange its own dollar-backed token for other cryptocurrencies and use an algorithm to control the amount of stable tokens in circulation, Decentral officials told FOX. This stable coin is similar to Facebook’s Libra, and aims to promote uniformity and reliability among a fractured landscape of digital assets. Related:Boston Fed Announces Plans To Design a Blockchain ‘Supervisory Node’ “I’m really excited about doing this,” Moore told the business media outlet. “I hope it makes me rich.” Moore said he will officially join Decentral on July 1, as chief economic officer and report to Sam Kazemian, Decentral CEO. “These guys are super smart,” he said of his partners. He also told Fox, he believes cryptocurrencies can circulate in the economy in such a way that they don’t conflict with the Fed’s monetary policy, adding, “This is an alternative way of making payments.” Kazemian told Fox that Decentral isn’t trying to compete with the Fed, but plans to introduce their business model to Fed officials at some point. Related:Cheap Power Is Luring Battered Bitcoin Miners to Iran “Decentral will solve the biggest problem facing regulators when it comes to the crypto space: The current instability of pricing,” he said. “Our goal is to be collaborative, not combative,” he said. “The next big wave in the crypto space is a digital currency that is designed to be useful to consumers and keep stable prices instead of acting as volatile, speculative investments. Stable coins are the next big innovation in the crypto industry.” It’s unclear how Decentral will convince holders to trade their crypto for this new token, or how the firm will act to prevent inflation – a core mandate of Fed – if the business does not have authority to act as a central clearinghouse. Kedar Iyer will serve as chief technology officer, Travis Moore as director of software, and Henry Liu as chief operating officer —all of whom have backgrounds in crypto and technology startups. The remaining three partners have political backgrounds. Mike Novogratz is cited as an investor in Decentral’s parent company. Moore previously worked as an editorial writer for the Wall Street Journal, and was a member of the conservative Heritage Foundation. He is also a distinguished visiting fellow to the White House, following his advisement on President Trump’s 2017 tax plan. Moore was picked by Trump in March to fill one of two vacant positions at the Fed, but had not been formally nominated. He withdrew his bid in early May after weeks of criticism about his political partisanship, shifting views on interest rate policy, and sexist comments about women. His discussions with Decentral began at recent SALT conference, a hedge fund and investing confab in early May run by Anthony Scaramucci of SkyBridge Capital. Federal Reserve seal via Shutterstock • Ex-Trump Advisor Predicts ‘Global Cryptocurrency’ • Trump Signs Defense Bill Authorizing Blockchain Study \|\| Ex-Trump Economist Joins ‘Crypto Central Bank’ After Failed Fed Bid: Stephen Moore, who recently rescinded his bid to join the Federal Reserve, announced plans to start his own cryptocurrency-based mini-Fed – billed as “the world’s decentralized central bank,” according to Fox Business . A pitch deck sent exclusively to Fox allegedly said Moore has teamed with a group of unnamed entrepreneurs to develop a “central bank” – ironically called “Decentral” – aimed at reducing the volatility among digital currencies. The bank will attempt to regulate the supply of crypto, just as the Fed controls monetary policy in the U.S. It will exchange its own dollar-backed token for other cryptocurrencies and use an algorithm to control the amount of stable tokens in circulation, Decentral officials told FOX. This stable coin is similar to Facebook’s Libra, and aims to promote uniformity and reliability among a fractured landscape of digital assets. Related: Boston Fed Announces Plans To Design a Blockchain ‘Supervisory Node’ “I’m really excited about doing this,” Moore told the business media outlet. “I hope it makes me rich.” Moore said he will officially join Decentral on July 1, as chief economic officer and report to Sam Kazemian, Decentral CEO. “These guys are super smart,” he said of his partners. He also told Fox, he believes cryptocurrencies can circulate in the economy in such a way that they don’t conflict with the Fed’s monetary policy, adding, “This is an alternative way of making payments.” Kazemian told Fox that Decentral isn’t trying to compete with the Fed, but plans to introduce their business model to Fed officials at some point. Related: Cheap Power Is Luring Battered Bitcoin Miners to Iran “Decentral will solve the biggest problem facing regulators when it comes to the crypto space: The current instability of pricing,” he said. “Our goal is to be collaborative, not combative,” he said. “The next big wave in the crypto space is a digital currency that is designed to be useful to consumers and keep stable prices instead of acting as volatile, speculative investments. Stable coins are the next big innovation in the crypto industry.” It’s unclear how Decentral will convince holders to trade their crypto for this new token, or how the firm will act to prevent inflation – a core mandate of Fed – if the business does not have authority to act as a central clearinghouse. Kedar Iyer will serve as chief technology officer, Travis Moore as director of software, and Henry Liu as chief operating officer —all of whom have backgrounds in crypto and technology startups. The remaining three partners have political backgrounds. Story continues Mike Novogratz is cited as an investor in Decentral’s parent company. Moore previously worked as an editorial writer for the Wall Street Journal, and was a member of the conservative Heritage Foundation. He is also a distinguished visiting fellow to the White House, following his advisement on President Trump’s 2017 tax plan. Moore was picked by Trump in March to fill one of two vacant positions at the Fed, but had not been formally nominated. He withdrew his bid in early May after weeks of criticism about his political partisanship, shifting views on interest rate policy, and sexist comments about women. His discussions with Decentral began at recent SALT conference, a hedge fund and investing confab in early May run by Anthony Scaramucci of SkyBridge Capital. Federal Reserve seal via Shutterstock Related Stories Ex-Trump Advisor Predicts ‘Global Cryptocurrency’ Trump Signs Defense Bill Authorizing Blockchain Study View comments \|\| Stephen Moore, who was in consideration for the Fed, is considering joining a 'crypto central bank': Who needs the Fed? Economist Stephen Moore won't have a seat on the Federal Reserve afterwithdrawing his name from consideration. But in an email to Yahoo Finance on Tuesday, Moore confirms that he is in negotiations to join the team at Decentral. The story was first reported byFox Business Network. “I've been just in the last few months really starting to study up on these cryptocurrencies, and what impact those will have on the government currencies,"Moore saidrecently onYahoo Finance's The Final Round. According to Fox Business Network, Decentral is a “crypto central bank,” guided by group of entrepreneurs led by Sam Kazemian. They’re hoping to create a way to help stabilize cryptocurrencies. Bitcoinhad more than doubled this year, even before Facebook(FB)and its partners unveiled thewhite paperfor Libra coin. Since the announcement, bitcoin is up another 22%. Bitcoin's comeback has evenFed Chair Jay Powell answering crypto questionsat FOMC press conferences. “Digital currencies are in their infancy,” Powell warned. “There are potential benefits here, there are also potential risks.” Regarding the threat of crypto currencies replacing currencies backed by central banks, Powell said, “I think we’re a long way from that.” Like Powell, Moore sees the risks and the benefits for crypto and central banks. "This represents a new challenge for central bankers that they now have competition from private currencies,” Moore said. “And I think on balance, it's a good thing. And the big question now will be whether the Fed and whether this SEC that come out of these futures trading corporation, whether they will start regulating these cryptocurrencies.” — Follow Jen on Twitter@jensaiditor Instagram@jenrogershere. Read the latest financial and business news from Yahoo Finance More Jen: • ‘Unbreakable Kimmy Schmidt’ star Ellie Kemper explains why it’s okay to be a quitter • Star Comedian Nick Kroll has ‘a major opinion about Facebook as a stock’ Follow Yahoo Finance onTwitter,Facebook,Instagram,Flipboard,SmartNews,LinkedIn,YouTube, andreddit. \|\| Stephen Moore, who was in consideration for the Fed, is considering joining a 'crypto central bank': Who needs the Fed? Economist Stephen Moore won't have a seat on the Federal Reserve after withdrawing his name from consideration . But in an email to Yahoo Finance on Tuesday, Moore confirms that he is in negotiations to join the team at Decentral. The story was first reported by Fox Business Network . “I've been just in the last few months really starting to study up on these cryptocurrencies, and what impact those will have on the government currencies," Moore said recently on Yahoo Finance's The Final Round . According to Fox Business Network, Decentral is a “crypto central bank,” guided by group of entrepreneurs led by Sam Kazemian. They’re hoping to create a way to help stabilize cryptocurrencies. Stephen Moore has been looking at crypto currencies recently. Bitcoin up sharply in 2019 Bitcoin had more than doubled this year, even before Facebook (FB) and its partners unveiled the white paper for Libra coin. Since the announcement, bitcoin is up another 22%. Bitcoin's comeback has even Fed Chair Jay Powell answering crypto questions at FOMC press conferences. “Digital currencies are in their infancy,” Powell warned. “There are potential benefits here, there are also potential risks.” Regarding the threat of crypto currencies replacing currencies backed by central banks, Powell said, “I think we’re a long way from that.” Like Powell, Moore sees the risks and the benefits for crypto and central banks. "This represents a new challenge for central bankers that they now have competition from private currencies,” Moore said. “And I think on balance, it's a good thing. And the big question now will be whether the Fed and whether this SEC that come out of these futures trading corporation, whether they will start regulating these cryptocurrencies.” — Follow Jen on Twitter @jensaidit or Instagram @jenrogershere . Read the latest financial and business news from Yahoo Finance More Jen: ‘Unbreakable Kimmy Schmidt’ star Ellie Kemper explains why it’s okay to be a quitter Star Comedian Nick Kroll has ‘a major opinion about Facebook as a stock’ Follow Yahoo Finance on Twitter , Facebook , Instagram , Flipboard , SmartNews , LinkedIn , YouTube , and reddit . \|\| Pay BTC, ETH and More with Apple Pay or Samsung Pay with Zeux - The World’s First Crypto Mobile-Payment App: PALO ALTO, CA / ACCESSWIRE / June 25, 2019 / Mobile phones give us power to do almost anything. As well as making and receiving calls, through our phones we can access the Internet, play games, listen to music, book an Uber and pay for things in almost all stores. But the competition is fierce in the mobile space, with many business models being designed purely with one function and accessibility in mind - an app. Apps allow businesses to be customer-focused and provide personalisation services to meet their needs. And one in particular, Zeux, has caught a lot of attention recently setting itself apart by integrating payments, banking and investments. Zeux has launched its product at the right time. In a seamingly saturated market where we have the likes of Monzo, Revolut and Starling Bank widely used, Zeux has managed to address a real pain-point for everyday crypto users. So what makes this London-based fintech stand out from other competitors in the industry? It's capability to simplify financial services and provide fast and easy crypto payments. Simplifying financial services Similar to a digital bank, Zeux provides payments and banking services in both traditional and digital currencies - combining the best of both worlds. Zeux has a fresh and integrated approach that gives its customers the ability to access the best traditional and digital investment opportunities, getting competitive returns, while being able to manage all their financial accounts with ease. Zeux offers 6% deposit interest rate for customers' crypto deposits in both BTC and USDT with no fixed term, so customers can take their money out at anytime. What's more, the product will be available for all customers around the world so everyone can take advantage of maximizing their assets from an FCA regulatory entity. Fast and Easy Crypto Payments Zeux has also revolutionised crypto payments for everyone. Rather than wait years for merchants to accept cryptocurrency, Zeux has put the consumer at the heart of its product and operations, and created a solution to allow them to pay with crypto in all stores that accept Apple Pay or Samsung Pay - and in just one click. Story continues They have simplified the concept to allow customers to spend their cryptocurrencies - such as Bitcoin, Ethereum and other crypto tokens - like they would any traditional currency - such as GBP or USD. So when the value of crypto is on the rise, it allows customers to take advantage, at any given moment, to make real-world purchases from their gains. Game changer. Zeux has also signed with Coinbase, a crypto trading venue currently valued at $8 billion that generated $1.3 billion in revenue in 2018. This collaboration is a significant upgrade as Coinbase will function as a crypto-fiat gateway for Zeux's crypto payments. What's more, Zeux charges no fees for payments, crypto-conversion or transfers giving maximum benefits for the consumer. So in a world where mobiles are used for nearly every single aspect of life, Zeux has provided an innovative solution to multiple everyday issues. And with this new found accessibility, mass adoption of cryptocurrency is highly likely. Want to be on top of your game and master your financial future? Zeux has an app for that. About Zeux Zeux has just completed the presale of their token ZeuxCoin (ZUC) at the end of May, which gives holders cashback on crypto payments and reduced investment transaction fees, which raised 5000 ETH in less than 2 full days. Their token sale is live now on their website from 7 June - 5 July 2019. Zeux is available in the UK on iOS and Android , launching across the rest of Europe later this year and the wider-world in 2020. Website: www.zeux.tech Whitepaper: Read their whitepaper Telegram Group: Join our community Twitter: @ZeuxApp Facebook: Like and Follow Zeux's FB page YouTube : View our channel CEO : Frank Zhou Email : [email protected] SOURCE: Zeux View source version on accesswire.com: https://www.accesswire.com/549844/Pay-BTC-ETH-and-More-with-Apple-Pay-or-Samsung-Pay-with-Zeux--The-Worlds-First-Crypto-Mobile-Payment-App \|\| Pay BTC, ETH and More with Apple Pay or Samsung Pay with Zeux - The World’s First Crypto Mobile-Payment App: PALO ALTO, CA / ACCESSWIRE / June 25, 2019 /Mobile phones give us power to do almost anything. As well as making and receiving calls, through our phones we can access the Internet, play games, listen to music, book an Uber and pay for things in almost all stores. But the competition is fierce in the mobile space, with many business models being designed purely with one function and accessibility in mind - an app. Apps allow businesses to be customer-focused and provide personalisation services to meet their needs. And one in particular, Zeux, has caught a lot of attention recently setting itself apart by integrating payments, banking and investments. Zeux has launched its product at the right time. In a seamingly saturated market where we have the likes of Monzo, Revolut and Starling Bank widely used, Zeux has managed to address a real pain-point for everyday crypto users. So what makes this London-based fintech stand out from other competitors in the industry? It's capability to simplify financial services and provide fast and easy crypto payments. Simplifying financial services Similar to a digital bank, Zeux provides payments and banking services in both traditional and digital currencies - combining the best of both worlds. Zeux has a fresh and integrated approach that gives its customers the ability to access the best traditional and digital investment opportunities, getting competitive returns, while being able to manage all their financial accounts with ease. Zeux offers 6% deposit interest rate for customers' crypto deposits in both BTC and USDT with no fixed term, so customers can take their money out at anytime. What's more, the product will be available for all customers around the world so everyone can take advantage of maximizing their assets from an FCA regulatory entity. Fast and Easy Crypto Payments Zeux has also revolutionised crypto payments for everyone. Rather than wait years for merchants to accept cryptocurrency, Zeux has put the consumer at the heart of its product and operations, and created a solution to allow them to pay with crypto in all stores that accept Apple Pay or Samsung Pay - and in just one click. They have simplified the concept to allow customers to spend their cryptocurrencies - such as Bitcoin, Ethereum and other crypto tokens - like they would any traditional currency - such as GBP or USD. So when the value of crypto is on the rise, it allows customers to take advantage, at any given moment, to make real-world purchases from their gains. Game changer. Zeux has also signed with Coinbase, a crypto trading venue currently valued at $8 billion that generated $1.3 billion in revenue in 2018. This collaboration is a significant upgrade as Coinbase will function as a crypto-fiat gateway for Zeux's crypto payments. What's more, Zeux charges no fees for payments, crypto-conversion or transfers giving maximum benefits for the consumer. So in a world where mobiles are used for nearly every single aspect of life, Zeux has provided an innovative solution to multiple everyday issues. And with this new found accessibility, mass adoption of cryptocurrency is highly likely. Want to be on top of your game and master your financial future? Zeux has an app for that. About Zeux Zeux has just completed the presale of their token ZeuxCoin (ZUC) at the end of May, which gives holders cashback on crypto payments and reduced investment transaction fees, which raised 5000 ETH in less than 2 full days. Their token sale is live now on their website from 7 June - 5 July 2019. Zeux is available in the UK oniOSandAndroid, launching across the rest of Europe later this year and the wider-world in 2020. Website:www.zeux.techWhitepaper:Read their whitepaperTelegram Group:Join our communityTwitter:@ZeuxAppFacebook:Like and Follow Zeux's FB pageYouTube :View our channel CEO : Frank ZhouEmail :[email protected] SOURCE:Zeux View source version on accesswire.com:https://www.accesswire.com/549844/Pay-BTC-ETH-and-More-with-Apple-Pay-or-Samsung-Pay-with-Zeux--The-Worlds-First-Crypto-Mobile-Payment-App [Social Media Buzz] Rimarrà solo libra? Ovviamente no \|\| [BOT SCAN - 26/06 11h] $BTC dominance: 61.90% 🔥 Total bullish score: 📈 3302 pts 🚫 Total bearish score: 📉 2924 pts For more details, please visit https://t.co/XPXD4lOc5A This bot is experimental. Not financal advise. Play safe and #DYOR \|\| New blog post alert! 🚨 read all about #Facebook and their #Libra token here: https://t.co/WN53n8gvZe $BTC $ETH $XRP $LTC $BCH $LINK $OMG $XLM #Stablecoin #token #blog #new #read #learn \|\| With @adam3us at #bitcoin2019c...	11182.81, 12407.33, 11959.37, 10817.16, 10583.13, 10801.68, 11961.27, 11215.44, 10978.46, 11208.55
Given the historical Bitcoin prices from the last 90 days, predict the next 10 daily closing prices. The historical prices are: 10347.71, 10276.79, 10241.27, 10198.25, 10266.42, 10181.64, 10019.72, 10070.39, 9729.32, 8620.57, 8486.99, 8118.97, 8251.85, 8245.92, 8104.19, 8293.87, 8343.28, 8393.04, 8259.99, 8205.94, 8151.50, 7988.16, 8245.62, 8228.78, 8595.74, 8586.47, 8321.76, 8336.56, 8321.01, 8374.69, 8205.37, 8047.53, 8103.91, 7973.21, 7988.56, 8222.08, 8243.72, 8078.20, 7514.67, 7493.49, 8660.70, 9244.97, 9551.71, 9256.15, 9427.69, 9205.73, 9199.58, 9261.10, 9324.72, 9235.35, 9412.61, 9342.53, 9360.88, 9267.56, 8804.88, 8813.58, 9055.53, 8757.79, 8815.66, 8808.26, 8708.09, 8491.99, 8550.76, 8577.98, 8309.29, 8206.15, 8027.27, 7642.75, 7296.58, 7397.80, 7047.92, 7146.13, 7218.37, 7531.66, 7463.11, 7761.24, 7569.63, 7424.29, 7321.99, 7320.15, 7252.03, 7448.31, 7547.00, 7556.24, 7564.35, 7400.90, 7278.12, 7217.43, 7243.13, 7269.68.	[Bitcoin Technical Analysis for 2019-12-13] Volume: 17125736940, RSI (14-day): 38.63, 50-day EMA: 7954.99, 200-day EMA: 8433.66 [Wider Market Context] Gold Price: 1475.60, Gold RSI: 52.89 Oil Price: 60.07, Oil RSI: 62.22 [Recent News (last 7 days)] US Stock Market Overview – Stocks Surge on Phase One Trade Deal: US stocks surged higher on Thursday, rallying following news that the Trump administration has reached a trade deal in principle with China. Most sectors were higher led by energy and financials, real estate and utilities bucked the trend. Wholesale prices came out in line with expectations. US jobless claims jumped to a fresh 2-year high. The VIX volatility index tumbled 7% back below the 14% level. The White House and China reached a trade deal in principle with China according to sources. It appears that the Trump administration is ready to scrap the next round of tariffs on China. The Trump administration has offered to eliminate tariffs on Chinese goods set to take effect Sunday and cut some existing duties in half. It appears that China will purchase 40-billion in agricultural products compared to the 50-billion the Trump administration wanted. US Wholesale prices were unchanged according to the Labor Department which followed last months 0.4% surge in October. On a year over year basis, the PPI gained 1.1%, matching October’s rise, which was the smallest increase since October 2016. Expectations were for PPI would rise 0.2% in November and accelerate 1.2% on a year-on-year basis. Core PPI was also unchanged last month after edging up 0.1% in October. Core PPI increased 1.3% year over year, the smallest gain since September 2016, after advancing 1.5% in October. Jobless claims surged 49,000 to 252,000 for the week ended December 7, the highest reading since September 2017. The increase was the largest since August 2017. Claims dropped to 203,000 in the prior week, which was a seven-month low. Expectations were for claims to increase to 213,000 in the latest week. The four-week moving average of initial claims, considered a better measure of labor market trends as it irons out week-to-week volatility, rose 6,250 to 224,000 last week. Exit polls from the UK show that the conservatives have won a majority and will likely move forward withy a Brexit. Shortly after 10 p.m. London time, a survey of thousands of people who had just left the voting booth, indicated that the Conservatives are on course to gain around 50 seats, ensuring a healthy majority. The Labour would lose 71 seats from its performance in 2017. In Scotland, the Scottish National Party is forecast to win as many as 55 seats Thisarticlewas originally posted on FX Empire • Bitcoin Cash ABC, EOS and Ethereum Daily Tech Analysis – 13/12/19 • US Stock Market Overview – Stocks Surge on Phase One Trade Deal • Gold Price Forecast – Gold Markets Slam Into Resistance • It’s Risk-On! Trade News and Exit Polls Drive the Pound and the Majors • USD/JPY Price Forecast – US Dollar Sideways Against Japanese Yen Again • Silver Price Forecast – Silver Markets Fell At 50 Day EMA \|\| US Stock Market Overview – Stocks Surge on Phase One Trade Deal: US stocks surged higher on Thursday, rallying following news that the Trump administration has reached a trade deal in principle with China. Most sectors were higher led by energy and financials, real estate and utilities bucked the trend. Wholesale prices came out in line with expectations. US jobless claims jumped to a fresh 2-year high. The VIX volatility index tumbled 7% back below the 14% level. Phase One Deal Reached The White House and China reached a trade deal in principle with China according to sources. It appears that the Trump administration is ready to scrap the next round of tariffs on China. The Trump administration has offered to eliminate tariffs on Chinese goods set to take effect Sunday and cut some existing duties in half. It appears that China will purchase 40-billion in agricultural products compared to the 50-billion the Trump administration wanted. US PPI was Unchanged US Wholesale prices were unchanged according to the Labor Department which followed last months 0.4% surge in October. On a year over year basis, the PPI gained 1.1%, matching October’s rise, which was the smallest increase since October 2016. Expectations were for PPI would rise 0.2% in November and accelerate 1.2% on a year-on-year basis. Core PPI was also unchanged last month after edging up 0.1% in October. Core PPI increased 1.3% year over year, the smallest gain since September 2016, after advancing 1.5% in October. Jobless Claims Rise More than Expected Jobless claims surged 49,000 to 252,000 for the week ended December 7, the highest reading since September 2017. The increase was the largest since August 2017. Claims dropped to 203,000 in the prior week, which was a seven-month low. Expectations were for claims to increase to 213,000 in the latest week. The four-week moving average of initial claims, considered a better measure of labor market trends as it irons out week-to-week volatility, rose 6,250 to 224,000 last week. Story continues Boris Johnson Wins a Majority Exit polls from the UK show that the conservatives have won a majority and will likely move forward withy a Brexit. Shortly after 10 p.m. London time, a survey of thousands of people who had just left the voting booth, indicated that the Conservatives are on course to gain around 50 seats, ensuring a healthy majority. The Labour would lose 71 seats from its performance in 2017. In Scotland, the Scottish National Party is forecast to win as many as 55 seats This article was originally posted on FX Empire More From FXEMPIRE: Bitcoin Cash ABC, EOS and Ethereum Daily Tech Analysis – 13/12/19 US Stock Market Overview – Stocks Surge on Phase One Trade Deal Gold Price Forecast – Gold Markets Slam Into Resistance It’s Risk-On! Trade News and Exit Polls Drive the Pound and the Majors USD/JPY Price Forecast – US Dollar Sideways Against Japanese Yen Again Silver Price Forecast – Silver Markets Fell At 50 Day EMA \|\| Natural Gas Price Prediction – Prices Surge on Unexpected Inventory Draw: Natural gas prices surged more than 4% on Thursday following a larger than expected draw in natural gas stockpiles. The weather is expected to remain warmer than normal over the next 8-14 days and until the weather turns, the shorts will remain in control. On Friday, the CFTC will report this week’s commitment of trader’s report for the week ending December 10. Natural gas inventories slipped below the 5-year average but still remain in the middle of the 5-year average range for this time of year. Technical Analysis Natural gas prices surged more than 4% on Thursday following the EIA inventory report. Prices stop short of eclipsing resistance near the 10-day moving average at 2.33. Support is seen near the December lows at 2.16. Short term momentum has turned positive as the fast stochastic generated a crossover buy signal in oversold territory. The current reading on the fast stochastic now is 21 just above the oversold trigger level of 20. Medium-term momentum is negative to neutral as the MACD (moving average convergence divergence) histogram is printing in the red with a rising trajectory. Inventories Declined More than Expected The Department of Energy reported that working gas in storage was 3,518 Bcf as of Friday, December 6, 2019. This represents a net decrease of 73 Bcf from the previous week. Expectations were for a 55 Bcf draw in stockpiles according to survey provider Estimize. Stocks were 593 Bcf higher than last year at this time and 14 Bcf below the five-year average of 3,532 Bcf. At 3,518 Bcf, total working gas is within the five-year historical range. This article was originally posted on FX Empire More From FXEMPIRE: Natural Gas Price Forecast – Natural Gas Markets Continue Back And Forth Bitcoin Cash ABC, EOS and Ethereum Daily Tech Analysis – 13/12/19 Christine Lagarde, Welcome to the ECB Crude Oil Price Forecast – Crude Oil Markets Continue To Test Major Resistance US Stock Market Overview – Stocks Surge on Phase One Trade Deal The Crypto Daily – Movers and Shakers -13/12/19 \|\| Natural Gas Price Prediction – Prices Surge on Unexpected Inventory Draw: Natural gas prices surged more than 4% on Thursday following a larger than expected draw in natural gas stockpiles. The weather is expected to remain warmer than normal over the next 8-14 days and until the weather turns, the shorts will remain in control. On Friday, the CFTC will report this week’s commitment of trader’s report for the week ending December 10. Natural gas inventories slipped below the 5-year average but still remain in the middle of the 5-year average range for this time of year. Natural gas prices surged more than 4% on Thursday following the EIA inventory report. Prices stop short of eclipsing resistance near the 10-day moving average at 2.33. Support is seen near the December lows at 2.16. Short term momentum has turned positive as the fast stochastic generated a crossover buy signal in oversold territory. The current reading on the fast stochastic now is 21 just above the oversold trigger level of 20. Medium-term momentum is negative to neutral as the MACD (moving average convergence divergence) histogram is printing in the red with a rising trajectory. The Department of Energy reported that working gas in storage was 3,518 Bcf as of Friday, December 6, 2019. This represents a net decrease of 73 Bcf from the previous week. Expectations were for a 55 Bcf draw in stockpiles according to survey provider Estimize. Stocks were 593 Bcf higher than last year at this time and 14 Bcf below the five-year average of 3,532 Bcf. At 3,518 Bcf, total working gas is within the five-year historical range. Thisarticlewas originally posted on FX Empire • Natural Gas Price Forecast – Natural Gas Markets Continue Back And Forth • Bitcoin Cash ABC, EOS and Ethereum Daily Tech Analysis – 13/12/19 • Christine Lagarde, Welcome to the ECB • Crude Oil Price Forecast – Crude Oil Markets Continue To Test Major Resistance • US Stock Market Overview – Stocks Surge on Phase One Trade Deal • The Crypto Daily – Movers and Shakers -13/12/19 \|\| Gold Price Prediction – Prices Consolidate Despite Falling Dollar: Gold prices whipsawed but were unable to gain traction despite a decline in the greenback which was offset by a rally in US yields. This came as UK exit polls projected an 86-seat majority for the Conservative Party in the U.K. general election. Riskier assets gained traction as the White House announced that a phase-1 deal with China was all but confirmed. Both the US and China have announced that an agreement in principle was all but complete. Trade gold with FXTM Gold prices attempted to move higher as the dollar lost ground but were unable to push through resistance near the moved higher pushing through short-term resistance near the 50-day moving average near 1,479. Short term support seen near the 10-day moving average at 1,468. Prices remain in a downward sloping consolidation pattern, after running up to fresh multi-year highs in September. Short term momentum has turned positive as the fast stochastic generated a crossover buy signal. Medium-term momentum is neutral as the MACD histogram prints in the black with a flat trajectory which points to consolidation. Exit polls from the UK show that the conservatives have won a majority and will likely move forward with a Brexit. Shortly after 10 p.m. London time, a survey of thousands of people who had just left the voting booth, indicated that the Conservatives are on course to gain around 50 seats, ensuring a healthy majority. The Labour would lose 71 seats from its performance in 2017. In Scotland, the Scottish National Party is forecast to win as many as 55 seats Thisarticlewas originally posted on FX Empire • Crude Oil Price Forecast – Crude Oil Markets Continue To Test Major Resistance • USD/JPY Price Forecast – US Dollar Sideways Against Japanese Yen Again • GBP/JPY Price Forecast – British Pound Continues To Kill Time Ahead Of The Election • The Crypto Daily – Movers and Shakers -13/12/19 • Bitcoin Cash ABC, EOS and Ethereum Daily Tech Analysis – 13/12/19 • Gold Price Forecast – Gold Markets Slam Into Resistance \|\| Gold Price Prediction – Prices Consolidate Despite Falling Dollar: Gold prices whipsawed but were unable to gain traction despite a decline in the greenback which was offset by a rally in US yields. This came as UK exit polls projected an 86-seat majority for the Conservative Party in the U.K. general election. Riskier assets gained traction as the White House announced that a phase-1 deal with China was all but confirmed. Both the US and China have announced that an agreement in principle was all but complete. Trade gold with FXTM Technical Analysis Gold prices attempted to move higher as the dollar lost ground but were unable to push through resistance near the moved higher pushing through short-term resistance near the 50-day moving average near 1,479. Short term support seen near the 10-day moving average at 1,468. Prices remain in a downward sloping consolidation pattern, after running up to fresh multi-year highs in September. Short term momentum has turned positive as the fast stochastic generated a crossover buy signal. Medium-term momentum is neutral as the MACD histogram prints in the black with a flat trajectory which points to consolidation. Boris Johnson Wins a Majority Exit polls from the UK show that the conservatives have won a majority and will likely move forward with a Brexit. Shortly after 10 p.m. London time, a survey of thousands of people who had just left the voting booth, indicated that the Conservatives are on course to gain around 50 seats, ensuring a healthy majority. The Labour would lose 71 seats from its performance in 2017. In Scotland, the Scottish National Party is forecast to win as many as 55 seats This article was originally posted on FX Empire More From FXEMPIRE: Crude Oil Price Forecast – Crude Oil Markets Continue To Test Major Resistance USD/JPY Price Forecast – US Dollar Sideways Against Japanese Yen Again GBP/JPY Price Forecast – British Pound Continues To Kill Time Ahead Of The Election The Crypto Daily – Movers and Shakers -13/12/19 Bitcoin Cash ABC, EOS and Ethereum Daily Tech Analysis – 13/12/19 Gold Price Forecast – Gold Markets Slam Into Resistance \|\| Bitcoin, Ethereum & Litecoin - American Wrap: 12/12/19: Bitcoin Price Analysis: BTC/USD gradually grinding down critical support, but there may still be hope • The Bitcoin price on Thursday is trading in the red by some 0.11%, remaining vulnerable to an imminent potential breakout south. • BTC/USD continues to hover around the lowest levels since May 2019, as the price consolidates underneath a breached pennant structure. It had been containing Bitcoin from 23 November up to 9 December. Ethereum Technical Analysis: ETH/USD continuing to test critical 0 support • Ethereum price is trading in the red by some 0.13% the session on Thursday. • ETH/USD is further extending to the downside following flag breakout. • The price is running towards its fourth consecutive session in the red. Litecoin technical analysis: LTC/USD sitting on critical weekly support at • Litecoin price is trading in the red in the session by some 0.50%. • LTC/USD is having some trouble near-term finding a bottom, 25 November low eyed for support. • The price is running towards its fourth consecutive session in the red. Image by mohamed Hassan from Pixabay 0 See more from Benzinga • Bitcoin, Ripple & Litecoin - American Wrap: 12/11/2019 • Bitcoin, Ethereum & Ripple - American Wrap: 12/5/2019 • Bitcoin, Ethereum & Litecoin - American Wrap: 12/4/2019 © 2019 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. \|\| Bitcoin, Ethereum & Litecoin - American Wrap: 12/12/19: Bitcoin Price Analysis: BTC/USD gradually grinding down critical support, but there may still be hope • The Bitcoin price on Thursday is trading in the red by some 0.11%, remaining vulnerable to an imminent potential breakout south. • BTC/USD continues to hover around the lowest levels since May 2019, as the price consolidates underneath a breached pennant structure. It had been containing Bitcoin from 23 November up to 9 December. Ethereum Technical Analysis: ETH/USD continuing to test critical 0 support • Ethereum price is trading in the red by some 0.13% the session on Thursday. • ETH/USD is further extending to the downside following flag breakout. • The price is running towards its fourth consecutive session in the red. Litecoin technical analysis: LTC/USD sitting on critical weekly support at • Litecoin price is trading in the red in the session by some 0.50%. • LTC/USD is having some trouble near-term finding a bottom, 25 November low eyed for support. • The price is running towards its fourth consecutive session in the red. Image by mohamed Hassan from Pixabay 0 See more from Benzinga • Bitcoin, Ripple & Litecoin - American Wrap: 12/11/2019 • Bitcoin, Ethereum & Ripple - American Wrap: 12/5/2019 • Bitcoin, Ethereum & Litecoin - American Wrap: 12/4/2019 © 2019 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. \|\| Bitcoin, Ethereum & Litecoin - American Wrap: 12/12/19: Bitcoin Price Analysis: BTC/USD gradually grinding down critical support, but there may still be hope The Bitcoin price on Thursday is trading in the red by some 0.11%, remaining vulnerable to an imminent potential breakout south. BTC/USD continues to hover around the lowest levels since May 2019, as the price consolidates underneath a breached pennant structure. It had been containing Bitcoin from 23 November up to 9 December. Ethereum Technical Analysis: ETH/USD continuing to test critical 0 support Ethereum price is trading in the red by some 0.13% the session on Thursday. ETH/USD is further extending to the downside following flag breakout. The price is running towards its fourth consecutive session in the red. Litecoin technical analysis: LTC/USD sitting on critical weekly support at Litecoin price is trading in the red in the session by some 0.50%. LTC/USD is having some trouble near-term finding a bottom, 25 November low eyed for support. The price is running towards its fourth consecutive session in the red. Image by mohamed Hassan from Pixabay 0 See more from Benzinga Bitcoin, Ripple & Litecoin - American Wrap: 12/11/2019 Bitcoin, Ethereum & Ripple - American Wrap: 12/5/2019 Bitcoin, Ethereum & Litecoin - American Wrap: 12/4/2019 © 2019 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. \|\| Mining Giant Glencore to Trace Cobalt Using ‘Responsible Sourcing’ Blockchain Consortium: Cobalt producer Glencore PLC is joining the Responsible Sourcing Blockchain Network (RSBN). In a press release Thursday, the publicly traded company, one of the world’s largest cobalt producers, announced it would utilize RSBN’s Hyperledger Fabric platform for its cobalt production and become a full consortium member by February 2020. The announcement follows Glencore’s earlier pledge to consider blockchain in its supply chain. In October it agreed to “design and deploy blockchain solutions” in conjunction with the World Economic Forum and six other mining stakeholders. Related: Bitmain Shifts Miner Sales Tactics, Betting Big on Bitcoin Halving Pump RBSN appears to be the beneficiary of that drive. The cross-industry consortium of miners, carmakers, refineries and tech companies has already been building out an audited minerals-tracing platform, which runs atop the IBM blockchain. It seeks to add transparency to the mining supply chain, an industry often marred by reports of unethical worker treatment including widespread child labor in the Democratic Republic of Congo, a global cobalt hotspot. To that end, RSBN’s member groups have focused on cobalt as the platform’s first test mineral. Cobalt is a crucial component in lithium ion battery design, leading companies including Ford, Volkswagen , Volvo, LG subsidiary LG Chemical and IBM to sign on. The pilot run traced a 1.5 ton batch of cobalt from Congolese mines to a Ford Motor Company plant in Mexico. Now, RSBN members say they will take the system live in commercial production early next year. Related: Nvidia Battles Shareholders in Lawsuit Over Crypto Miner Claims Glencore, too, aims to implement the platform by “spring 2020,” according to its press release. While it will initially focus on cobalt, Glencore said it will bring tin, tantalum, tungsten and gold onto the platform sometime next year. “RSBN plays a key role in advancing the sustainable partnership between the producers of commodities that will enable the transition to a low-carbon economy and key consumers around the world,” Nico Paraskevas, Glencore’s cobalt marketing chief, said in the press release. Related Stories MARKETS DAILY: Casualties Ahead in the Cryptocurrency Mining Arms Race Canadian Government-Assisted Bitcoin Miner Files for Bankruptcy Owing Millions View comments \|\| Mining Giant Glencore to Trace Cobalt Using ‘Responsible Sourcing’ Blockchain Consortium: Cobalt producer Glencore PLC is joining the Responsible Sourcing Blockchain Network (RSBN). In apress releaseThursday, the publicly traded company, one of the world’s largest cobalt producers, announced it would utilize RSBN’s Hyperledger Fabric platform for its cobalt production and become a full consortium member by February 2020. The announcement follows Glencore’s earlier pledge to consider blockchain in its supply chain. InOctoberit agreed to “design and deploy blockchain solutions” in conjunction with the World Economic Forum and six other mining stakeholders. Related:Bitmain Shifts Miner Sales Tactics, Betting Big on Bitcoin Halving Pump RBSN appears to be the beneficiary of that drive. The cross-industry consortium of miners, carmakers, refineries and tech companies has already been building out an audited minerals-tracing platform, which runs atop the IBM blockchain. It seeks to add transparency to the mining supply chain, an industry often marred byreportsof unethical worker treatment including widespread child labor in the Democratic Republic of Congo, a global cobalt hotspot. To that end, RSBN’s member groups have focused on cobalt as the platform’s first test mineral. Cobalt is a crucial component in lithium ion battery design, leading companies including Ford,Volkswagen, Volvo, LG subsidiary LG Chemical and IBM to sign on. Thepilot runtraced a 1.5 ton batch of cobalt from Congolese mines to a Ford Motor Company plant in Mexico. Now, RSBN members say they will take the system live in commercial production early next year. Related:Nvidia Battles Shareholders in Lawsuit Over Crypto Miner Claims Glencore, too, aims to implement the platform by “spring 2020,” according to its press release. While it will initially focus on cobalt, Glencore said it will bring tin, tantalum, tungsten and gold onto the platform sometime next year. “RSBN plays a key role in advancing the sustainable partnership between the producers of commodities that will enable the transition to a low-carbon economy and key consumers around the world,” Nico Paraskevas, Glencore’s cobalt marketing chief, said in the press release. • MARKETS DAILY: Casualties Ahead in the Cryptocurrency Mining Arms Race • Canadian Government-Assisted Bitcoin Miner Files for Bankruptcy Owing Millions \|\| Kraken Job Ad Hints at Plan to Build Special-Purpose Wyoming Bank: Kraken appears to be preparing to open a limited-purpose bank in Wyoming that would let it store customers fiat deposits and possibly operate in New York without a BitLicense. The cryptocurrency exchange has opened up a position for an operations director to oversee a Wyoming special-purpose depository institution (SPDI). The job includes building out an operations team, developing systems and operational processes to be an SPDI and integrating that entity into the exchanges platforms. The director would also ensure the functionality of the different capabilities that come with being an SPDI bank, including access to Fedwire, Fed Master Accounts, the Automated Clearing House and correspondent banking. Related: Colorado Could Be Next in the Race to Bank Crypto (and Cannabis) Its unclear whether Kraken has applied yet for an SPDI from Wyoming. While it and other firms have expressed interest in pursuing the charter, none have announced doing so. Kraken did not respond to request for comment by press time. Created under Wyomings new blockchain-industry friendly laws, an SPDI would, in theory, solve two longstanding problems for any crypto exchange. At CoinDesks Invest: NY conference last month, Wyoming officials touted the charter as a potential end run around New Yorks notoriously strict BitLicense, which the Empire State is in the process of revising . Kraken CEO Jesse Powell had previously said his company stopped serving New York customers several years ago because of the BitLicenses requirements, which he considered overly burdensome . However, even Wyoming boosters acknowledge a court fight may be necessary to cement the SPDIs status as a path around the BitLicense. More immediately, chartering an SPDI (which is not FDIC-insured) would allow an exchange to rely less on the handful of crypto-friendly banks to hold and transfer dollars. Related: Coinbase-Led Group Aims to Help Crypto Firms Avoid Securities Violations Story continues Kraken is looking for someone who has been a senior leader in a bank or regulated financial services firm and understands payments, trust services, the Bank Secrecy Act, anti-money-laundering regulations and capital markets. Having senior banking experience on staff would help the firm get through the application process. The chartering process resembles that of a traditional community bank, according to a spokesperson at the Wyoming Division of Banking. SPDIs must have procedures, officers and directors and capital requirements in place before applying. Related Stories How Leverage Can Help With Bitcoins Price Discovery Gemini Exchange Data Is Being Added to CMEs Crypto Indices \|\| Kraken Job Ad Hints at Plan to Build Special-Purpose Wyoming Bank: Kraken appears to be preparing to open a limited-purpose bank in Wyoming that would let it store customers’ fiat deposits – and possibly operate in New York without a BitLicense. The cryptocurrency exchange has opened up a position for anoperations directorto oversee a Wyoming special-purpose depository institution (SPDI). The job includes building out an operations team, developing systems and operational processes to be an SPDI and integrating that entity into the exchange’s platforms. The director would also ensure the functionality of the different capabilities that come with being an SPDI bank, including access to Fedwire, Fed Master Accounts, the Automated Clearing House and correspondent banking. Related:Colorado Could Be Next in the Race to Bank Crypto (and Cannabis) It’s unclear whether Kraken has applied yet for an SPDI from Wyoming. While it and other firms have expressed interest in pursuing the charter, none have announced doing so. Kraken did not respond to request for comment by press time. Created under Wyoming’s new blockchain-industry friendly laws, an SPDI would, in theory, solve two longstanding problems for any crypto exchange. At CoinDesk’s Invest: NY conference last month, Wyoming officialstoutedthe charter as a potential end run around New York’s notoriously strict BitLicense, which the Empire State is in the process ofrevising. Kraken CEO Jesse Powell had previously said his company stopped serving New York customers several years ago because of the BitLicense’s requirements, which he consideredoverly burdensome. However, even Wyoming boosters acknowledge a court fight may be necessary to cement the SPDI’s status as a path around the BitLicense. More immediately, chartering an SPDI (which is not FDIC-insured) would allow an exchange to rely less on the handful of crypto-friendly banks to hold and transfer dollars. Related:Coinbase-Led Group Aims to Help Crypto Firms Avoid Securities Violations Kraken is looking for someone who has been a senior leader in a bank or regulated financial services firm and understands payments, trust services, the Bank Secrecy Act, anti-money-laundering regulations and capital markets. Having senior banking experience on staff would help the firm get through the application process. The chartering process resembles that of a traditional community bank, according to a spokesperson at the Wyoming Division of Banking. SPDIs must have procedures, officers and directors and capital requirements in place before applying. • How Leverage Can Help With Bitcoin’s Price Discovery • Gemini Exchange Data Is Being Added to CME’s Crypto Indices \|\| Hold Tight, Here Come the Blockchain Wars: This post is part of CoinDesks 2019 Year in Review, a collection of 100 op-eds, interviews and takes on the state of blockchain and the world. Gavin Wood is the co-founder of Ethereum, Parity Technologies, Polkadot and the Web3 Foundation . I dont want to romanticize what, at the end of the day, is only a few of the many pipe-dream promises finally starting to be fulfilled. That said, I will stick a flag in the sand and state that I do believe that a renewed flurry in the world of blockchain is coming. Whether we see any knock-on effects beginning now or in twelve months time, there are important developments going on behind the scenes that, when translated into tangible products, will jerk the industry forward one way or another. In short, blockchain 3.0 is well on its way. I wouldnt exactly call this a Golden Age. Theres a bit too much baggage for that. The days of money raining from heaven before quickly being irrigated into a swampy Caymans company are, I think, over. Theres still some dumb money around, but theres less of it; natural selection did its job over crypto winter. Smart money will undoubtedly do its homework before getting into bed with a new project. The upshot of this is threefold. Related: Decentralizing the Web Is More Necessary Than Ever The first is that to attract the generous funding of the past, projects will need to look as though theyre actually delivering miracles rather than merely promising them. Since actually delivering stuff is hard, projects will need to start employing a hybrid approach: deliver whatever is actually possible to deliver and then fill the gap with appropriate use of stakeholder engagement, communications and marketing. The latter is hardly new, but as time goes on and projects fall short of promises (or their competitors) this gap increases and projects will need to ramp up their efforts in a kind of public-positioning arms race. Misdirection, FUD, misinformation, exaggeration, bad analogies, partisan unbiased reviews and bloated claims that are already prevalent will become more so. Story continues Secondly, the natural instinct of this slightly-less-dumb capital is to pick projects with defendable moats. Monopolies make great returns for their backers. Duopolies are okay too. But an active market saturated with great teams doing awesome things is just not worth the bother. Large and vaguely strategic investors act as catalysts, unfairly popularising their own bets, sometimes against better alternatives. In other words, its winner-take-all. This makes the industry-wide open-source collaboration and technology sharing, which has characterized blockchain innovation so far, that much less likely to continue. Consider that Silicon Valley startups are not well known for giving away the engineering secrets to their core products. Sure, Apple open-sourced Darwin, but it kept the real jewels of OSX for itself. Ditto Facebook. Ditto Google. Companies share what makes strategic sense to share, but that rarely means sharing the really cool stuff. The game becomes increasingly zero-sum. This is already happening to some degree in our space with numerous well-funded and research-heavy startups like StarkWare and Dfinity refusing to open up the important bits of their technology. Some are even apparently considering patents. Finally, as the payout from the winning ticket increases and the total winners are fewer, then in a zero-sum game the participants necessarily begin to start looking at each other not as comrades or a valuable resource but as obstacles to victory, to be removed. This, sadly, doesnt paint a pretty picture of the future. When there is no omnipotent force of just oversight, ruthless realpolitik rules. Related: Security Token Offerings Are (Finally) Set for Takeoff in 2020 While there is surely some below-the-belt fighting in the corporate world, it is mostly kept in check by national governments and legal systems. Google would never dream of directly attacking Facebooks servers to drive people to its alternative platform. Mastercard wouldnt employ a team to find and exploit holes in the Visa protocol. The punishments for such activity would be existential. But blockchains are less like corporate entities and more like nation-states. They share core properties like nationalism (maximalism), currency, and sovereignty. And as we know from the news, there is a quiet cyberwar going on between the worlds powers. When there is no omnipotent force of just oversight, ruthless realpolitik rules. And so it is between the crypto-states where the equivalent of international law or, more aptly, lawlessness, exists. Everything is trust-free and the choir sings code-is-law, bugs-and-all. If you take the view that an exploitable and obviously unintended bug, such as that used by devops199 to disable hundreds of wallets, must be considered fair and intended use of a platform, then it surely becomes morally permissible for one platform to actively support efforts to findand exploitthose same bugs in competitive platforms. While we are still in the world of Blockchain 2.0, platforms are still very much dumb and either ungovernable and/or governed centrally. Such attacks would need to be sponsored and coordinated by a singular major stakeholder, rich enough to fund them and ruthless enough to carry it through. Thus far, we have likely seen one or two examples of individuals or groups using their existing wealth to attack competitors and threats, but I expect its otherwise fairly rare. Chains themselves are unable to use the resources they have at their disposal for lack of effective, decentralised and binding governance. But Blockchain 3.0 will change that. Platforms will become smart, amoral economic actors in and of themselves. Decisions of multi-billion-dollar platforms will be made, and be autonomously enforced, by the largely anonymous crowd that constitutes its stakeholders. As Bitcoin has demonstrated, crowd-driven decentralized crypto-systems are laws unto themselves. They cannot be imprisoned, forcibly split, fined or shut down. And so, just as full-nodes in the Bitcoin network are unaccountable for the financial service they provide, so the decision-making crowd in smart platforms will be accountable to nobody. Stakeholders will be driven only by the pure desire to see the platform succeed. The Devcon Shanghai attacks and the EthCC Polkascan denial-of-service attacks figure as a couple of the initial instances of what might be called renegade blockchain terrorism. Yet in both cases, there was little to no real cash at stake. As smart systems operating under their own brutal rules backed by dizzying sums of money wake up and gain a form of self-awareness, existential desire will put those resources to work. Over time, governance-backed, economically-incentivized positive action will turn into outwardly-directed negative action against competitors. Initially, it will be the dumb networks that are eliminated. Blockchain wars will follow. The Brave New World of blockchain is about to become a whole lot braver. Related Stories 2019: The Inflection Point for Data Privacy The Year in Crypto Journalism: Truth Will Always Be Human \|\| Hold Tight, Here Come the Blockchain Wars: This post is part of CoinDesk’s 2019 Year in Review, a collection of 100 op-eds, interviews and takes on the state of blockchain and the world. Gavin Wood is the co-founder of Ethereum, Parity Technologies, Polkadot and the Web3 Foundation. I don’t want to romanticize what, at the end of the day, is only a few of the many pipe-dream promises finally starting to be fulfilled. That said, I will stick a flag in the sand and state that I do believe that a renewed flurry in the world of blockchain is coming. Whether we see any knock-on effects beginning now or in twelve months’ time, there are important developments going on behind the scenes that, when translated into tangible products, will jerk the industry forward one way or another. In short, blockchain 3.0 is well on its way. I wouldn’t exactly call this a Golden Age. There’s a bit too much baggage for that. The days of money raining from heaven before quickly being irrigated into a swampy Caymans company are, I think, over. There’s still some “dumb” money around, but there’s less of it; natural selection did its job over crypto winter. “Smart” money will undoubtedly do its homework before getting into bed with a new project. The upshot of this is threefold. Related:Decentralizing the Web Is More Necessary Than Ever The first is that to attract the generous funding of the past, projects will need to look as though they’re actually delivering miracles rather than merely promising them. Since actually delivering stuff is hard, projects will need to start employing a hybrid approach: deliver whatever is actually possible to deliver and then fill the gap with appropriate use of stakeholder engagement, communications and marketing. The latter is hardly new, but as time goes on and projects fall short of promises (or their competitors) this gap increases and projects will need to ramp up their efforts in a kind of public-positioning arms race. Misdirection, FUD, misinformation, exaggeration, bad analogies, partisan “unbiased” reviews and bloated claims that are already prevalent will become more so. Secondly, the natural instinct of this slightly-less-dumb capital is to pick projects with defendable moats. Monopolies make great returns for their backers. Duopolies are okay too. But an active market saturated with great teams doing awesome things is just not worth the bother. Large and vaguely strategic investors act as catalysts, unfairly popularising their own bets, sometimes against better alternatives. In other words, it’s winner-take-all. This makes the industry-wide “open-source” collaboration and technology sharing, which has characterized blockchain innovation so far, that much less likely to continue.Consider that Silicon Valley startups are not well known for giving away the engineering secrets to their core products. Sure, Apple “open-sourced” Darwin, but it kept the real jewels of OSX for itself. Ditto Facebook. Ditto Google. Companies share what makes strategic sense to share, but that rarely means sharing the really cool stuff. The game becomes increasingly zero-sum. This is already happening to some degree in our space with numerous well-funded and research-heavy startups like StarkWare and Dfinity refusing to open up the important bits of their technology. Some are even apparently considering patents. Finally, as the payout from the winning ticket increases and the total winners are fewer, then in a zero-sum game the participants necessarily begin to start looking at each other not as comrades or a valuable resource but as obstacles to victory, to be removed. This, sadly, doesn’t paint a pretty picture of the future. When there is no omnipotent force of just oversight, ruthless realpolitik rules. Related:Security Token Offerings Are (Finally) Set for Takeoff in 2020 While there is surely some below-the-belt fighting in the corporate world, it is mostly kept in check by national governments and legal systems. Google would never dream of directly attacking Facebook’s servers to drive people to its alternative platform. Mastercard wouldn’t employ a team to find and exploit holes in the Visa protocol. The punishments for such activity would be existential. But blockchains are less like corporate entities and more like nation-states. They share core properties like nationalism (“maximalism”), currency, and sovereignty. And as we know from the news, there is a quiet cyberwar going on between the world’s powers. When there is no omnipotent force of just oversight, ruthless realpolitik rules. And so it is between the crypto-states where the equivalent of “international law” or, more aptly, lawlessness, exists. Everything is trust-free and the choir sings “code-is-law, bugs-and-all.” If you take the view that an exploitable and obviously unintended bug, such as that used bydevops199to disable hundreds of wallets, must be considered “fair and intended use” of a platform, then it surely becomes morally permissible for one platform to actively support efforts to find—and exploit—those same bugs in competitive platforms. While we are still in the world of Blockchain 2.0, platforms are still very much “dumb” and either ungovernable and/or governed centrally. Such attacks would need to be sponsored and coordinated by a singular major stakeholder, rich enough to fund them and ruthless enough to carry it through. Thus far, we have likely seen one or two examples of individuals or groups using their existing wealth to attack competitors and threats, but I expect it’s otherwise fairly rare. Chains themselves are unable to use the resources they have at their disposal for lack of effective, decentralised and binding governance. But Blockchain 3.0 will change that. Platforms will become smart, amoral economic actors in and of themselves. Decisions of multi-billion-dollar platforms will be made, and be autonomously enforced, by the largely anonymous crowd that constitutes its stakeholders. As Bitcoin has demonstrated, crowd-driven decentralized crypto-systems are laws unto themselves. They cannot be imprisoned, forcibly split, fined or shut down. And so, just as full-nodes in the Bitcoin network are unaccountable for the financial service they provide, so the decision-making crowd in smart platforms will be accountable to nobody. Stakeholders will be driven only by the pure desire to see the platform succeed. The Devcon Shanghaiattacksand the EthCC Polkascan denial-of-service attacks figure as a couple of the initial instances of what might be called renegade blockchain terrorism. Yet in both cases, there was little to no real cash at stake. As smart systems operating under their own brutal rules backed by dizzying sums of money wake up and gain a form of self-awareness, existential desire will put those resources to work. Over time, governance-backed, economically-incentivized positive action will turn into outwardly-directed negative action against competitors. Initially, it will be the dumb networks that are eliminated. Blockchain “wars” will follow. The Brave New World of blockchain is about to become a whole lot braver. • 2019: The Inflection Point for Data Privacy • The Year in Crypto Journalism: Truth Will Always Be Human \|\| Money on Chain Launches First Bitcoin-Collateralized Stablecoin on RSK Network: The protocol will allow Bitcoin holders to hedge against volatility and enable the creation of DeFi services for the Bitcoin ecosystem MONTEVIDEO, URUGUAY / ACCESSWIRE / December 12, 2019 / After eleven months of simulations, testing and two audits, Money on Chain is launching the Alpha version of its decentralized stablecoin protocol on the RSK network. Backed by Bitcoin, the protocol is comprised of two tokens that provide several use cases for Bitcoin holders, including leveraged Bitcoin operations. The first token is Dollar on Chain (DOC). Users can quickly send and receive any amount of DOC, a token pegged to the value of the US Dollar. As a safe haven from Bitcoin volatility, DOC simplifies many types of transactions. In the event a Bitcoin holder wants to buy property, for instance, they can hold stable assets collateralized on Bitcoin and without counterparty risk during the financing process. The second token is BitPRO (BPRO), and it is specifically designed for Bitcoin holders to earn passive income on their coins. BPRO holders have several streams of revenue: they receive a percentage of platform-collected fees, an interest rate, and a small leverage on the price of Bitcoin. The platform is decentralized and secured by Bitcoin miners, with none of the collateral held in a bank account. All the collateral is held using Smart Contracts that run on the RSK network. "This is a very important step towards a more open and transparent financial system," said CEO and Co-founder, Max Cajurzaa. "The Money on Chain protocol enables other projects to develop lending, credit, and advanced trading for Bitcoin holders." Running on the RSK platform, which enables the creation of Smart Contracts for Bitcoin, Money on Chain is a major launchpoint of a Bitcoin-backed DeFi ecosystem. "Creating representations of local currencies with Bitcoin backing was the first use case we envisioned when we developed RSK," said Diego Gutiérrez Zaldívar, CEO of IOV Labs (the organization behind RSK), "It's the key component to bridge traditional economies with the Bitcoin and crypto-economies and enable a decentralized financial ecosystem for Bitcoin, turning financial inclusion into a reality. We're very excited for RSK to take part in this massive evolution in Bitcoin." Story continues Users can use Nifty and Metamask Wallet to access the web application. A metrics panel allows any user to see all of the liquidity on the platform. Check out the Money on Chain platform at: https://moneyonchain.com/ About Money on Chain We imagine a world where transactions are instant, cost-efficient and free from the volatility of the current cryptocurrencies markets. Furthermore we want international trade to be frictionless so individuals and companies can use the Bitcoin blockchain without facing volatility risks. In order for our vision to happen we need to bring stability to the Bitcoin world. Money on Chain hence takes the best of both worlds, decentralization, security, immutability of Bitcoin and the stability of traditional fiat to create such a solution. About IOV Labs IOV Labs is focused on developing the platforms needed for a new blockchain-based financial system that will enable worldwide financial inclusion and bridge the gap between these nascent technologies and mass adoption. The organization currently develops the most popular implementations of the RSK Smart Contract Network and RIF OS platforms . RSK provides smart contracts for Bitcoin, enabling decentralized applications on the most secure blockchain in the world. For Media Inquiries: Manuel Ferrari COO & CoFounder, Money on Chain [email protected] Ruby Kalson-Bremer PR Manager, IOV Labs [email protected] SOURCE: RSK View source version on accesswire.com: https://www.accesswire.com/569872/Money-on-Chain-Launches-First-Bitcoin-Collateralized-Stablecoin-on-RSK-Network \|\| Money on Chain Launches First Bitcoin-Collateralized Stablecoin on RSK Network: The protocol will allow Bitcoin holders to hedge against volatility and enable the creation of DeFi services for the Bitcoin ecosystem MONTEVIDEO, URUGUAY / ACCESSWIRE /December 12, 2019 /After eleven months of simulations, testing and two audits, Money on Chain is launching the Alpha version of its decentralized stablecoin protocol on the RSK network. Backed by Bitcoin, the protocol is comprised of two tokens that provide several use cases for Bitcoin holders, including leveraged Bitcoin operations. The first token is Dollar on Chain (DOC). Users can quickly send and receive any amount of DOC, a token pegged to the value of the US Dollar. As a safe haven from Bitcoin volatility, DOC simplifies many types of transactions. In the event a Bitcoin holder wants to buy property, for instance, they can hold stable assets collateralized on Bitcoin and without counterparty risk during the financing process. The second token is BitPRO (BPRO), and it is specifically designed for Bitcoin holders to earn passive income on their coins. BPRO holders have several streams of revenue: they receive a percentage of platform-collected fees, an interest rate, and a small leverage on the price of Bitcoin. The platform is decentralized and secured by Bitcoin miners, with none of the collateral held in a bank account. All the collateral is held using Smart Contracts that run on the RSK network. "This is a very important step towards a more open and transparent financial system," said CEO and Co-founder, Max Cajurzaa. "The Money on Chain protocol enables other projects to develop lending, credit, and advanced trading for Bitcoin holders." Running on the RSK platform, which enables the creation of Smart Contracts for Bitcoin, Money on Chain is a major launchpoint of a Bitcoin-backed DeFi ecosystem. "Creating representations of local currencies with Bitcoin backing was the first use case we envisioned when we developed RSK," said Diego Gutiérrez Zaldívar, CEO of IOV Labs (the organization behind RSK), "It's the key component to bridge traditional economies with the Bitcoin and crypto-economies and enable a decentralized financial ecosystem for Bitcoin, turning financial inclusion into a reality. We're very excited for RSK to take part in this massive evolution in Bitcoin." Users can use Nifty and Metamask Wallet to access the web application. A metrics panel allows any user to see all of the liquidity on the platform. Check out the Money on Chain platform at:https://moneyonchain.com/ About Money on Chain We imagine a world where transactions are instant, cost-efficient and free from the volatility of the current cryptocurrencies markets. Furthermore we want international trade to be frictionless so individuals and companies can use the Bitcoin blockchain without facing volatility risks. In order for our vision to happen we need to bring stability to the Bitcoin world. Money on Chain hence takes the best of both worlds, decentralization, security, immutability of Bitcoin and the stability of traditional fiat to create such a solution. About IOV Labs IOV Labsis focused on developing the platforms needed for a new blockchain-based financial system that will enable worldwide financial inclusion and bridge the gap between these nascent technologies and mass adoption. The organization currently develops the most popular implementations of theRSK Smart Contract NetworkandRIF OS platforms. RSK provides smart contracts for Bitcoin, enabling decentralized applications on the most secure blockchain in the world. For Media Inquiries: Manuel FerrariCOO & CoFounder, Money on [email protected] Ruby Kalson-BremerPR Manager, IOV [email protected] SOURCE:RSK View source version on accesswire.com:https://www.accesswire.com/569872/Money-on-Chain-Launches-First-Bitcoin-Collateralized-Stablecoin-on-RSK-Network \|\| Money on Chain Launches First Bitcoin-Collateralized Stablecoin on RSK Network: The protocol will allow Bitcoin holders to hedge against volatility and enable the creation of DeFi services for the Bitcoin ecosystem MONTEVIDEO, URUGUAY / ACCESSWIRE /December 12, 2019 /After eleven months of simulations, testing and two audits, Money on Chain is launching the Alpha version of its decentralized stablecoin protocol on the RSK network. Backed by Bitcoin, the protocol is comprised of two tokens that provide several use cases for Bitcoin holders, including leveraged Bitcoin operations. The first token is Dollar on Chain (DOC). Users can quickly send and receive any amount of DOC, a token pegged to the value of the US Dollar. As a safe haven from Bitcoin volatility, DOC simplifies many types of transactions. In the event a Bitcoin holder wants to buy property, for instance, they can hold stable assets collateralized on Bitcoin and without counterparty risk during the financing process. The second token is BitPRO (BPRO), and it is specifically designed for Bitcoin holders to earn passive income on their coins. BPRO holders have several streams of revenue: they receive a percentage of platform-collected fees, an interest rate, and a small leverage on the price of Bitcoin. The platform is decentralized and secured by Bitcoin miners, with none of the collateral held in a bank account. All the collateral is held using Smart Contracts that run on the RSK network. "This is a very important step towards a more open and transparent financial system," said CEO and Co-founder, Max Cajurzaa. "The Money on Chain protocol enables other projects to develop lending, credit, and advanced trading for Bitcoin holders." Running on the RSK platform, which enables the creation of Smart Contracts for Bitcoin, Money on Chain is a major launchpoint of a Bitcoin-backed DeFi ecosystem. "Creating representations of local currencies with Bitcoin backing was the first use case we envisioned when we developed RSK," said Diego Gutiérrez Zaldívar, CEO of IOV Labs (the organization behind RSK), "It's the key component to bridge traditional economies with the Bitcoin and crypto-economies and enable a decentralized financial ecosystem for Bitcoin, turning financial inclusion into a reality. We're very excited for RSK to take part in this massive evolution in Bitcoin." Users can use Nifty and Metamask Wallet to access the web application. A metrics panel allows any user to see all of the liquidity on the platform. Check out the Money on Chain platform at:https://moneyonchain.com/ About Money on Chain We imagine a world where transactions are instant, cost-efficient and free from the volatility of the current cryptocurrencies markets. Furthermore we want international trade to be frictionless so individuals and companies can use the Bitcoin blockchain without facing volatility risks. In order for our vision to happen we need to bring stability to the Bitcoin world. Money on Chain hence takes the best of both worlds, decentralization, security, immutability of Bitcoin and the stability of traditional fiat to create such a solution. About IOV Labs IOV Labsis focused on developing the platforms needed for a new blockchain-based financial system that will enable worldwide financial inclusion and bridge the gap between these nascent technologies and mass adoption. The organization currently develops the most popular implementations of theRSK Smart Contract NetworkandRIF OS platforms. RSK provides smart contracts for Bitcoin, enabling decentralized applications on the most secure blockchain in the world. For Media Inquiries: Manuel FerrariCOO & CoFounder, Money on [email protected] Ruby Kalson-BremerPR Manager, IOV [email protected] SOURCE:RSK View source version on accesswire.com:https://www.accesswire.com/569872/Money-on-Chain-Launches-First-Bitcoin-Collateralized-Stablecoin-on-RSK-Network \|\| Why Bitcoin’s bear market will drive price to $3,000: Bitcoin, as well as the entire cryptocurrency market that stubbornly follows it, is in the midst of a gruelling bear market, with four clear lower highs since the $14,000 top in June. The world’s largest cryptocurrency is now 50% down from its tremendous peak six months ago, with several altcoins seeing price drops of more than 70%. The potentially devastating bear market, which was exemplified by the recent moving average death cross , could well see Bitcoin fall by a further 70%, with price targets emerging at $3,150 and $1,850. The previous two death crosses took place during the 2014 and 2018 bear markets, with Bitcoin proceeding to fall by more than 60% on both occasions. The only way Bitcoin can nullify the threat of an impending bear market is if it can rally above $8,850 and gain a level of support in that region before any potential move to the downside. Bitcoin’s first hurdle is the 22 EMA on the daily chart, which has suppressed price action for the past month by becoming a bitter point of resistance. The next level to the upside is $7,900 as it is in confluence with the 50 EMA on the daily chart. This level also provided some support for Bitcoin between the end of September and end of October. However, the most likely scenario is a drop in price to $6,750 before a potential test of the historical level of support at $5,900, which was a key level during 2018’s crippling bear market. If that level fails to hold, then Bitcoin will almost certainly enter a phase of capitulation, with bullish traders left questioning whether the asset even has the potential to reverse into a bull market. For more news, guides, and cryptocurrency analysis, click here . The post Why Bitcoin’s bear market will drive price to $3,000 appeared first on Coin Rivet . \|\| Why Bitcoin’s bear market will drive price to $3,000: Bitcoin, as well as the entire cryptocurrency market that stubbornly follows it, is in the midst of a gruelling bear market, with four clear lower highs since the $14,000 top in June. The world’s largest cryptocurrency is now 50% down from its tremendous peak six months ago, with several altcoins seeing price drops of more than 70%. The potentially devastating bear market, which was exemplified by the recent moving average death cross , could well see Bitcoin fall by a further 70%, with price targets emerging at $3,150 and $1,850. The previous two death crosses took place during the 2014 and 2018 bear markets, with Bitcoin proceeding to fall by more than 60% on both occasions. The only way Bitcoin can nullify the threat of an impending bear market is if it can rally above $8,850 and gain a level of support in that region before any potential move to the downside. Bitcoin’s first hurdle is the 22 EMA on the daily chart, which has suppressed price action for the past month by becoming a bitter point of resistance. The next level to the upside is $7,900 as it is in confluence with the 50 EMA on the daily chart. This level also provided some support for Bitcoin between the end of September and end of October. However, the most likely scenario is a drop in price to $6,750 before a potential test of the historical level of support at $5,900, which was a key level during 2018’s crippling bear market. If that level fails to hold, then Bitcoin will almost certainly enter a phase of capitulation, with bullish traders left questioning whether the asset even has the potential to reverse into a bull market. For more news, guides, and cryptocurrency analysis, click here . The post Why Bitcoin’s bear market will drive price to $3,000 appeared first on Coin Rivet . [Social Media Buzz] None available.	7124.67, 7152.30, 6932.48, 6640.52, 7276.80, 7202.84, 7218.82, 7191.16, 7511.59, 7355.63
Given the historical Bitcoin prices from the last 90 days, predict the next 10 daily closing prices. The historical prices are: 6495.84, 6476.29, 6474.75, 6480.38, 6486.39, 6332.63, 6334.27, 6317.61, 6377.78, 6388.44, 6361.26, 6376.13, 6419.66, 6461.01, 6530.14, 6453.72, 6385.62, 6409.22, 6411.27, 6371.27, 6359.49, 5738.35, 5648.03, 5575.55, 5554.33, 5623.54, 4871.49, 4451.87, 4602.17, 4365.94, 4347.11, 3880.76, 4009.97, 3779.13, 3820.72, 4257.42, 4278.85, 4017.27, 4214.67, 4139.88, 3894.13, 3956.89, 3753.99, 3521.10, 3419.94, 3476.11, 3614.23, 3502.66, 3424.59, 3486.95, 3313.68, 3242.48, 3236.76, 3252.84, 3545.86, 3696.06, 3745.95, 4134.44, 3896.54, 4014.18, 3998.98, 4078.60, 3815.49, 3857.30, 3654.83, 3923.92, 3820.41, 3865.95, 3742.70, 3843.52, 3943.41, 3836.74, 3857.72, 3845.19, 4076.63, 4025.25, 4030.85, 4035.30, 3678.92, 3687.37, 3661.30, 3552.95, 3706.05, 3630.68, 3655.01, 3678.56, 3657.84, 3728.57, 3601.01, 3576.03.	[Bitcoin Technical Analysis for 2019-01-21] Volume: 5004347059, RSI (14-day): 41.92, 50-day EMA: 3966.11, 200-day EMA: 5470.01 [Wider Market Context] None available. [Recent News (last 7 days)] Forget Bitcoin: Why Criminals are Using Fortnite to Launder Illicit Funds: fortnite bitcoin By CCN.com : With well over 200 million users across the globe, few video games have as large a following as Fortnite. The freemium game is so popular that its developer, Epic Games, banked $3 billion in 2018. However, according to a report on the Independent , Epic Games isn’t the only entity getting rich off Fortnite. V-Bucks, the game’s official in-game currency, are increasingly being used as a tool for money laundering on the dark web . How Fortnite V-Bucks are Used to Launder Money According to researchers, hackers are using stolen credit cards to purchase V-Bucks. From there, the purchased V-Bucks are resold at a discount rate to players, as a means of “cleaning up” the currency. Cyber-security firm Sixgill first discovered these activities. The company’s agents reportedly uncovered the operations by pretending to be potential customers and engaging in transactions with some of the criminals. Benjamin Preminger, a Senior Intelligence Analyst at Sixgill, said: Criminals are executing carding fraud and getting money in and out of the Fortnite system with relative impunity. It is unclear how much money the scammers have been able to make from these operations. However, Sixgill also noted that the amount of money flowing around Fortnite had seen exponential increases as the game continues to grow in popularity. A Practical Scam for the Dark Web The scam operation makes much sense. Ever since its release, the online battle royale game has been a massive hit, attracting hundreds of millions of players in the process. The majority of these players are kids and teenagers, who are impressionable and can often easily be scammed. The dark web, the secluded part of the internet that can only be accessed via specialized software, is where a lot of online criminal activities are conducted. While the money laundering being conducted with Fortnite’s V-Bucks can be found on other aspects of the internet (such as social media platforms), these activities are reportedly being carried out on a much larger scale on the dark web. Story continues Are V-Bucks the New Bitcoin? bitcoin drugs dark web cryptocurrency crypto While it has found increasing use as a store of value and means of exchange in some quarters, Bitcoin has also drawn ire as an alleged tool for criminal activities. According to crypto research firm CipherTrace, criminals laundered over $2.5 billion worth of Bitcoin use from January 2009 to September 2018. Epic Games, the developer of Fortnite, intends to stamp out V-Buck laundering before it grows to that scale. Speaking with the Hollywood Reporter, a spokesperson for the company said: Epic Games takes these issues seriously, as chargebacks and fraud put our players and our business at risk. As always, we encourage players to protect their accounts by turning on two-factor authentication, not re-using passwords and using strong passwords, and not sharing account information with others. The ‘Milly Rock’ Lawsuit This new report is only the latest in a growing list of struggles for Fortnite and its producer. In addition to the money laundering claims, Epic Games is also facing a lawsuit from rapper 2 Milly over the developers’ misappropriation of the “Milly Rock” dance. The lawsuit was filed last month. The dance, which was featured back in 2014 in a video for “Milly Rock” (a song, which bears the same name as the dance), was added by Epic Games to Fortnite’s fifth season, albeit under the moniker “Swipe It.” Featured Image from Shutterstock The post Forget Bitcoin: Why Criminals are Using Fortnite to Launder Illicit Funds appeared first on CCN . \|\| Forget Bitcoin: Why Criminals are Using Fortnite to Launder Illicit Funds: By CCN.com: With well over 200 million users across the globe, few video games have as large a following as Fortnite. The freemium game is so popular that its developer, Epic Games, banked $3 billion in 2018. However, according to a report onthe Independent, Epic Games isn’t the only entity getting rich off Fortnite. V-Bucks, the game’s official in-game currency, are increasingly being used as a tool formoney launderingon thedark web. According to researchers, hackers are using stolen credit cards to purchase V-Bucks. From there, the purchased V-Bucks are resold at a discount rate to players, as a means of “cleaning up” the currency. Cyber-security firm Sixgill first discovered these activities. The company’s agents reportedly uncovered the operations by pretending to be potential customers and engaging in transactions with some of the criminals. Benjamin Preminger, a Senior Intelligence Analyst at Sixgill, said: Criminals are executing carding fraud and getting money in and out of the Fortnite system with relative impunity. It is unclear how much money the scammers have been able to make from these operations. However, Sixgill also noted that the amount of money flowing aroundFortnitehad seen exponential increases as the game continues to grow in popularity. The scam operation makes much sense. Ever since its release, the online battle royale game has been a massive hit, attracting hundreds of millions of players in the process. The majority of these players are kids and teenagers, who are impressionable and can often easily be scammed. The dark web, the secluded part of the internet that can only be accessed via specialized software, is where a lot of online criminal activities are conducted. While the money laundering being conducted withFortnite’sV-Bucks can be found on other aspects of the internet (such as social media platforms), these activities are reportedly being carried out on a much larger scale on the dark web. While it has found increasing use as a store of value and means of exchange in some quarters, Bitcoin has also drawn ire as an alleged tool forcriminalactivities. According to crypto research firm CipherTrace,criminals launderedover $2.5 billion worth ofBitcoinuse from January 2009 to September 2018. Epic Games, the developer of Fortnite, intends to stamp out V-Buck laundering before it grows to that scale. Speaking with the Hollywood Reporter, a spokesperson for the company said: Epic Games takes these issues seriously, as chargebacks and fraud put our players and our business at risk. As always, we encourage players to protect their accounts by turning on two-factor authentication, not re-using passwords and using strong passwords, and not sharing account information with others. This new report is only the latest in a growing list of struggles for Fortnite and its producer. In addition to the money laundering claims, Epic Games is also facing alawsuit from rapper 2 Millyover the developers’ misappropriation of the “Milly Rock” dance. The lawsuit was filed last month. The dance, which was featured back in 2014 in a video for “Milly Rock” (a song, which bears the same name as the dance), was added by Epic Games to Fortnite’s fifth season, albeit under the moniker “Swipe It.” Featured Image from Shutterstock The postForget Bitcoin: Why Criminals are Using Fortnite to Launder Illicit Fundsappeared first onCCN. \|\| Forget Bitcoin: Why Criminals are Using Fortnite to Launder Illicit Funds: By CCN.com: With well over 200 million users across the globe, few video games have as large a following as Fortnite. The freemium game is so popular that its developer, Epic Games, banked $3 billion in 2018. However, according to a report onthe Independent, Epic Games isn’t the only entity getting rich off Fortnite. V-Bucks, the game’s official in-game currency, are increasingly being used as a tool formoney launderingon thedark web. According to researchers, hackers are using stolen credit cards to purchase V-Bucks. From there, the purchased V-Bucks are resold at a discount rate to players, as a means of “cleaning up” the currency. Cyber-security firm Sixgill first discovered these activities. The company’s agents reportedly uncovered the operations by pretending to be potential customers and engaging in transactions with some of the criminals. Benjamin Preminger, a Senior Intelligence Analyst at Sixgill, said: Criminals are executing carding fraud and getting money in and out of the Fortnite system with relative impunity. It is unclear how much money the scammers have been able to make from these operations. However, Sixgill also noted that the amount of money flowing aroundFortnitehad seen exponential increases as the game continues to grow in popularity. The scam operation makes much sense. Ever since its release, the online battle royale game has been a massive hit, attracting hundreds of millions of players in the process. The majority of these players are kids and teenagers, who are impressionable and can often easily be scammed. The dark web, the secluded part of the internet that can only be accessed via specialized software, is where a lot of online criminal activities are conducted. While the money laundering being conducted withFortnite’sV-Bucks can be found on other aspects of the internet (such as social media platforms), these activities are reportedly being carried out on a much larger scale on the dark web. While it has found increasing use as a store of value and means of exchange in some quarters, Bitcoin has also drawn ire as an alleged tool forcriminalactivities. According to crypto research firm CipherTrace,criminals launderedover $2.5 billion worth ofBitcoinuse from January 2009 to September 2018. Epic Games, the developer of Fortnite, intends to stamp out V-Buck laundering before it grows to that scale. Speaking with the Hollywood Reporter, a spokesperson for the company said: Epic Games takes these issues seriously, as chargebacks and fraud put our players and our business at risk. As always, we encourage players to protect their accounts by turning on two-factor authentication, not re-using passwords and using strong passwords, and not sharing account information with others. This new report is only the latest in a growing list of struggles for Fortnite and its producer. In addition to the money laundering claims, Epic Games is also facing alawsuit from rapper 2 Millyover the developers’ misappropriation of the “Milly Rock” dance. The lawsuit was filed last month. The dance, which was featured back in 2014 in a video for “Milly Rock” (a song, which bears the same name as the dance), was added by Epic Games to Fortnite’s fifth season, albeit under the moniker “Swipe It.” Featured Image from Shutterstock The postForget Bitcoin: Why Criminals are Using Fortnite to Launder Illicit Fundsappeared first onCCN. \|\| MimbleWimble: Is Bitcoin’s Curse Looming on The Horizon?: By CCN.com: MimbleWimble, named after a curse from the Harry Potter book series, is a protocol, much like Bitcoin’s blockchain, that contains improved privacy features derived from multiple technologies, some more established than others. Key components inMimbleWimbleare: (a)Elliptic Curve Cryptography (ECC), which enables private-public key encryption – a way to prove you know something without revealing the content of the encrypted information; (b)Confidential Transactions, which allows for public verification of the transaction without revealing any significant details, like the amounts or addresses – which, in essence, do not really exist in MimbleWimble, but I’ll get to that later; (c)CoinJoins, through a mechanism called anonymity set that enables transactions from multiple senders to be batched into a single transaction; and (d)Dandelion, an improved gossip protocol network that contains increased privacy working mechanics, by using hops in-between nodes before publicizing the transaction to the neighboring nodes. History has taught meany technology represents a means to achieve an end, and the purpose of MimbleWimble is quite similar to Bitcoin’s: to allow for value to be transferred and stored in a decentralized manner, privately and without intermediaries. My goal today is to explain to non-magical folkhow this technology worksand why are there so many prominent cryptocurrency enthusiasts, such as Bitcoin Core developers Andreas Antonopoulos and Jimmy Song or authors like Chris Dixon and Daniel Jeffries, discussing the hypothesis of MimbleWimble becoming a serious side-chain protocol, by exponentially improving on Bitcoin’s privacy features. The initial MimbleWimble whitepaper was drafted by Tom Jedusor in 2016, with clear references to Greg Maxwell’s work on confidential transactions and CoinJoin, as well as to a previous anonymous paper posted in 2013 introducing one-way aggregate signatures, a functionality which obfuscates inputs and outputs, similar toCoinJoin. The first MimbleWimble implementation,Beam, was fully released on January 3 and is now live and minable. This means anyone can join to support the network – although in order to do so, one does require both specific hardware, in this case, a GPU processor, and some technical savviness to understand how to set up a node. Anyhow, the oldest implementation of Milmblewimble (and the one I will focus my attention on), is calledGrin. The first Grin testnet was launched in November 2017, and the project is currently live, since January 15. The Grin repository is currently maintained by anonymous developers and does not have a clear business model just yet, whilst Beam is a much more hierarchical and organized structure, like Blockstream for example. Both are aiming to achieve the same goal, which is to provide a live and functional network for MimbleWimble. As mentioned a couple of times already, the purpose MimbleWimble serves is to improve users privacy, as transactions cannot be linked to a specific IP,which is one of the current bottlenecks with Bitcoin. Not only that, but the way MimbleWimble works allows for close-to-infinite scalability. Before we get into the whole scalability ordeal, let’s see how MimbleWimble combines the technologies mentioned initially. Firstly, both implementations chose to use an ASIC-resistant algorithm, such as Cuckoo Cycle (in Grin) or Equihash Pow (Beam) to promote a higher degree of decentralization while adopting a secure model (a: ECC). Secondly, when a transaction is broadcast, it will hop to a number of other neighboring nodes before being broadcast to the entire network (d: Dandelion). Remember what I mentioned in the beginning? No one knows the inputs and outputs (b: Confidential Transaction). Well, good luck trying to find the originator, as each additional hop means an additional node you need to inspect (c: CoinJoin), including its connections – an almost impossible task to accomplish with a set of 3 to 4 hops per transaction. Thirdly (and lastly), the MimbleWimble blockchain is bound to the number of users using the network, not to the number of transactions/addresses, so you can already imagine the impact on scaling the network: nodes only need to register block headers for current UTXO (unspent transactions), not for the entire chain. Plus, this means there are neither addresses nor transactions. The first time I read the whitepaper, it did seem…magic! However, after many failed attempts, I understood how users could transact with neither addresses nor amounts – not an easy accomplishment if you ask me. The validation of MimbleWimble transactions relies on two basic properties: 1. Verification of zero sums.The sum of outputs minus inputs always equals zero, proving that the transaction did not create new funds, without revealing the actual amounts. 2. Possession of private keys. Like with most other cryptocurrencies, ownership of transaction outputs is guaranteed by the possession of ECC private keys. However, the proof that an entity owns those private keys is not achieved by directly signing the transaction. Simply put, because there are no amounts as the sum of the inputs and outputs is zero, and because users don’t need to sign any transaction with their private keys, there is no need for actual addresses. What matters in the end are UTXOs or unspent transactions. MimbleWimble has the potential to significantly reduce both transaction costs and blockchain size, where other blockchains necessarily would have to grow over time, the required MimbleWimble dataset does not, which would solve the scaling problem. From a technological point-of-view, MimbleWimble is a rather intriguing protocol that couldoffset a new wave of blockchain development. If Grin (and now Beam) can prove this consensus model based on opaque transactions works properly without addresses, amounts, or signatures, we could finally have a serious contenderto the king, Bitcoin(and to established privacy coins). The main points the protocol promotes, and its advantages when compared to, Bitcoin are: • Extremely good scalability, as the great majority of transaction data can be eliminated over time without compromising security. • Increased privacyby mixing and removing transaction data. • Faster node sync time, as the nodes would connect with the rest of the network very efficiently. Let’s see what the future holds for both Grin and Beam; will this novel technology do serious damages to prominent privacy coins like Monero, Zcash, and Monaco? Disclaimer: The views expressed in the article are solely that of the author and do not represent those of, nor should they be attributed to CCN. Featured image from Shutterstock. The postMimbleWimble: Is Bitcoin’s Curse Looming on The Horizon?appeared first onCCN. \|\| MimbleWimble: Is Bitcoin’s Curse Looming on The Horizon?: mimblewimble bitcoin voodoo doll By CCN.com : MimbleWimble, named after a curse from the Harry Potter book series, is a protocol, much like Bitcoin’s blockchain, that contains improved privacy features derived from multiple technologies, some more established than others. mimblewimble bitcoin Key components in MimbleWimble are: (a) Elliptic Curve Cryptography (ECC) , which enables private-public key encryption – a way to prove you know something without revealing the content of the encrypted information; (b) Confidential Transactions , which allows for public verification of the transaction without revealing any significant details, like the amounts or addresses – which, in essence, do not really exist in MimbleWimble, but I’ll get to that later; (c) CoinJoins , through a mechanism called anonymity set that enables transactions from multiple senders to be batched into a single transaction; and (d) Dandelion , an improved gossip protocol network that contains increased privacy working mechanics, by using hops in-between nodes before publicizing the transaction to the neighboring nodes. History has taught me any technology represents a means to achieve an end , and the purpose of MimbleWimble is quite similar to Bitcoin’s: to allow for value to be transferred and stored in a decentralized manner, privately and without intermediaries. A Brief History of MimbleWimble My goal today is to explain to non-magical folk how this technology works and why are there so many prominent cryptocurrency enthusiasts, such as Bitcoin Core developers Andreas Antonopoulos and Jimmy Song or authors like Chris Dixon and Daniel Jeffries, discussing the hypothesis of MimbleWimble becoming a serious side-chain protocol, by exponentially improving on Bitcoin’s privacy features. The initial MimbleWimble whitepaper was drafted by Tom Jedusor in 2016, with clear references to Greg Maxwell’s work on confidential transactions and CoinJoin, as well as to a previous anonymous paper posted in 2013 introducing one-way aggregate signatures, a functionality which obfuscates inputs and outputs, similar to CoinJoin . Story continues The first MimbleWimble implementation, Beam , was fully released on January 3 and is now live and minable. This means anyone can join to support the network – although in order to do so, one does require both specific hardware, in this case, a GPU processor, and some technical savviness to understand how to set up a node. Anyhow, the oldest implementation of Milmblewimble (and the one I will focus my attention on), is called Grin . The first Grin testnet was launched in November 2017, and the project is currently live, since January 15. The Grin repository is currently maintained by anonymous developers and does not have a clear business model just yet, whilst Beam is a much more hierarchical and organized structure, like Blockstream for example. Both are aiming to achieve the same goal, which is to provide a live and functional network for MimbleWimble. The Blueprint of Privacy mimblewimble grin bitcoin As mentioned a couple of times already, the purpose MimbleWimble serves is to improve users privacy, as transactions cannot be linked to a specific IP, which is one of the current bottlenecks with Bitcoin . Not only that, but the way MimbleWimble works allows for close-to-infinite scalability. Before we get into the whole scalability ordeal, let’s see how MimbleWimble combines the technologies mentioned initially. Firstly, both implementations chose to use an ASIC-resistant algorithm, such as Cuckoo Cycle (in Grin) or Equihash Pow (Beam) to promote a higher degree of decentralization while adopting a secure model (a: ECC). Secondly, when a transaction is broadcast, it will hop to a number of other neighboring nodes before being broadcast to the entire network (d: Dandelion). Remember what I mentioned in the beginning? No one knows the inputs and outputs (b: Confidential Transaction). Well, good luck trying to find the originator, as each additional hop means an additional node you need to inspect (c: CoinJoin), including its connections – an almost impossible task to accomplish with a set of 3 to 4 hops per transaction. Thirdly (and lastly), the MimbleWimble blockchain is bound to the number of users using the network, not to the number of transactions/addresses, so you can already imagine the impact on scaling the network: nodes only need to register block headers for current UTXO (unspent transactions), not for the entire chain. Plus, this means there are neither addresses nor transactions. Right – But How Does MimbleWimble Actually Work? The first time I read the whitepaper, it did seem… magic! However, after many failed attempts, I understood how users could transact with neither addresses nor amounts – not an easy accomplishment if you ask me. The validation of MimbleWimble transactions relies on two basic properties: Verification of zero sums . The sum of outputs minus inputs always equals zero, proving that the transaction did not create new funds, without revealing the actual amounts. Possession of private keys . Like with most other cryptocurrencies, ownership of transaction outputs is guaranteed by the possession of ECC private keys. However, the proof that an entity owns those private keys is not achieved by directly signing the transaction. Simply put, because there are no amounts as the sum of the inputs and outputs is zero, and because users don’t need to sign any transaction with their private keys, there is no need for actual addresses. What matters in the end are UTXOs or unspent transactions. A Final Look at MimbleWimble MimbleWimble has the potential to significantly reduce both transaction costs and blockchain size, where other blockchains necessarily would have to grow over time, the required MimbleWimble dataset does not, which would solve the scaling problem. From a technological point-of-view, MimbleWimble is a rather intriguing protocol that could offset a new wave of blockchain development . If Grin (and now Beam) can prove this consensus model based on opaque transactions works properly without addresses, amounts, or signatures, we could finally have a serious contender to the king, Bitcoin (and to established privacy coins). The main points the protocol promotes, and its advantages when compared to, Bitcoin are: Extremely good scalability , as the great majority of transaction data can be eliminated over time without compromising security. Increased privacy by mixing and removing transaction data. Faster node sync time , as the nodes would connect with the rest of the network very efficiently. Let’s see what the future holds for both Grin and Beam; will this novel technology do serious damages to prominent privacy coins like Monero, Zcash, and Monaco? Disclaimer: The views expressed in the article are solely that of the author and do not represent those of, nor should they be attributed to CCN. Featured image from Shutterstock. The post MimbleWimble: Is Bitcoin’s Curse Looming on The Horizon? appeared first on CCN . \|\| MimbleWimble: Is Bitcoin’s Curse Looming on The Horizon?: By CCN.com: MimbleWimble, named after a curse from the Harry Potter book series, is a protocol, much like Bitcoin’s blockchain, that contains improved privacy features derived from multiple technologies, some more established than others. Key components inMimbleWimbleare: (a)Elliptic Curve Cryptography (ECC), which enables private-public key encryption – a way to prove you know something without revealing the content of the encrypted information; (b)Confidential Transactions, which allows for public verification of the transaction without revealing any significant details, like the amounts or addresses – which, in essence, do not really exist in MimbleWimble, but I’ll get to that later; (c)CoinJoins, through a mechanism called anonymity set that enables transactions from multiple senders to be batched into a single transaction; and (d)Dandelion, an improved gossip protocol network that contains increased privacy working mechanics, by using hops in-between nodes before publicizing the transaction to the neighboring nodes. History has taught meany technology represents a means to achieve an end, and the purpose of MimbleWimble is quite similar to Bitcoin’s: to allow for value to be transferred and stored in a decentralized manner, privately and without intermediaries. My goal today is to explain to non-magical folkhow this technology worksand why are there so many prominent cryptocurrency enthusiasts, such as Bitcoin Core developers Andreas Antonopoulos and Jimmy Song or authors like Chris Dixon and Daniel Jeffries, discussing the hypothesis of MimbleWimble becoming a serious side-chain protocol, by exponentially improving on Bitcoin’s privacy features. The initial MimbleWimble whitepaper was drafted by Tom Jedusor in 2016, with clear references to Greg Maxwell’s work on confidential transactions and CoinJoin, as well as to a previous anonymous paper posted in 2013 introducing one-way aggregate signatures, a functionality which obfuscates inputs and outputs, similar toCoinJoin. The first MimbleWimble implementation,Beam, was fully released on January 3 and is now live and minable. This means anyone can join to support the network – although in order to do so, one does require both specific hardware, in this case, a GPU processor, and some technical savviness to understand how to set up a node. Anyhow, the oldest implementation of Milmblewimble (and the one I will focus my attention on), is calledGrin. The first Grin testnet was launched in November 2017, and the project is currently live, since January 15. The Grin repository is currently maintained by anonymous developers and does not have a clear business model just yet, whilst Beam is a much more hierarchical and organized structure, like Blockstream for example. Both are aiming to achieve the same goal, which is to provide a live and functional network for MimbleWimble. As mentioned a couple of times already, the purpose MimbleWimble serves is to improve users privacy, as transactions cannot be linked to a specific IP,which is one of the current bottlenecks with Bitcoin. Not only that, but the way MimbleWimble works allows for close-to-infinite scalability. Before we get into the whole scalability ordeal, let’s see how MimbleWimble combines the technologies mentioned initially. Firstly, both implementations chose to use an ASIC-resistant algorithm, such as Cuckoo Cycle (in Grin) or Equihash Pow (Beam) to promote a higher degree of decentralization while adopting a secure model (a: ECC). Secondly, when a transaction is broadcast, it will hop to a number of other neighboring nodes before being broadcast to the entire network (d: Dandelion). Remember what I mentioned in the beginning? No one knows the inputs and outputs (b: Confidential Transaction). Well, good luck trying to find the originator, as each additional hop means an additional node you need to inspect (c: CoinJoin), including its connections – an almost impossible task to accomplish with a set of 3 to 4 hops per transaction. Thirdly (and lastly), the MimbleWimble blockchain is bound to the number of users using the network, not to the number of transactions/addresses, so you can already imagine the impact on scaling the network: nodes only need to register block headers for current UTXO (unspent transactions), not for the entire chain. Plus, this means there are neither addresses nor transactions. The first time I read the whitepaper, it did seem…magic! However, after many failed attempts, I understood how users could transact with neither addresses nor amounts – not an easy accomplishment if you ask me. The validation of MimbleWimble transactions relies on two basic properties: 1. Verification of zero sums.The sum of outputs minus inputs always equals zero, proving that the transaction did not create new funds, without revealing the actual amounts. 2. Possession of private keys. Like with most other cryptocurrencies, ownership of transaction outputs is guaranteed by the possession of ECC private keys. However, the proof that an entity owns those private keys is not achieved by directly signing the transaction. Simply put, because there are no amounts as the sum of the inputs and outputs is zero, and because users don’t need to sign any transaction with their private keys, there is no need for actual addresses. What matters in the end are UTXOs or unspent transactions. MimbleWimble has the potential to significantly reduce both transaction costs and blockchain size, where other blockchains necessarily would have to grow over time, the required MimbleWimble dataset does not, which would solve the scaling problem. From a technological point-of-view, MimbleWimble is a rather intriguing protocol that couldoffset a new wave of blockchain development. If Grin (and now Beam) can prove this consensus model based on opaque transactions works properly without addresses, amounts, or signatures, we could finally have a serious contenderto the king, Bitcoin(and to established privacy coins). The main points the protocol promotes, and its advantages when compared to, Bitcoin are: • Extremely good scalability, as the great majority of transaction data can be eliminated over time without compromising security. • Increased privacyby mixing and removing transaction data. • Faster node sync time, as the nodes would connect with the rest of the network very efficiently. Let’s see what the future holds for both Grin and Beam; will this novel technology do serious damages to prominent privacy coins like Monero, Zcash, and Monaco? Disclaimer: The views expressed in the article are solely that of the author and do not represent those of, nor should they be attributed to CCN. Featured image from Shutterstock. The postMimbleWimble: Is Bitcoin’s Curse Looming on The Horizon?appeared first onCCN. \|\| Here's Where Things Went Wrong With Overstock in 2018: Overstock (NASDAQ: OSTK) shareholders had an awful year last year as the company fell from a $1.8 billion market capitalization to a valuation below $450 million. That slump translates into a 75% stock price decline during a period when the broader market fell by 6%. Several things have to go dramatically wrong for a business to lose that much value in that short of a time. For Overstock, it took two major catalysts to generate one of the market's worst stock performances in 2018. Doubling down and losing big The chain's e-commerce retailing business struggled mightily last year, and those challenges were compounded by major missteps by the management team. Following a sharp sales decline in fiscal 2017, CEO Patrick Byrne and his team announced a dramatic shift in strategies in mid-March . By sacrificing profits through price cuts and extra advertising spending, they explained, sales trends would spike, and rivals like Wayfair (NYSE: W) would see their market share momentum stall. "We have already turned on the jets," Byrne said in a press release, "and will demonstrate this year that our growth engine is far more efficient." A modern furnished living room. Image source: Getty Images. Things didn't turn out that way. Instead, six months later, the company gave up on that strategic shift. As predicted, its profitability dove as the company cut prices and spent more money on marketing. Wayfair's business wasn't hurt by the competitive move , though, and in fact, the home furnishings giant trounced management's forecasts in each of the next two quarterly reports. All Overstock's management succeeded in doing was driving down the value of its retailing business and demonstrating how poorly it stacked up against peers. Bad timing Overstock also suffered from poor timing in its pivot toward blockchain and cryptocurrencies, which management has tapped as the key growth driver for the broader business going forward. Executives had been so bullish on the technology that they discussed advancing plans to sell the e-commerce segment of the company and use the cash to fund blockchain initiatives. "When it comes to the world of crypto," Byrne explained in August, "I am well-traveled and can assure [investors] that it is an unusually large, strong group of blockchain talent in and around Medici Ventures," Overstock's blockchain subsidiary. Story continues The next few months brought a collapse in value across many of the most popular cryptocurrencies, though, with Bitcoin slumping over 40% in the final quarter of 2018. Investors reacted to that drop by pushing shares of Overstock lower, too, since so much of its value and its earnings potential is now tied to that volatile tech niche. Looking forward Overstock is still apparently planning to sell its retailing business to focus on blockchain technology in an announcement that might come before the company announces its holiday-season sales results in the coming weeks. There's no telling whether the sale will actually happen, though, and at what price management might achieve. Thus, investors should be extra cautious about considering starting a position in this stock today, even at this low price. The questions only get bigger looking further out to a future in which Overstock operates solely as a blockchain technology innovator. It's far from certain that the company can generate sustainable profits under that operating model, and recent blunders don't exactly inspire lots of confidence in the management team. As a result, investors are better off watching this volatile stock from the sidelines in 2019. More From The Motley Fool 10 Best Stocks to Buy Today 3 Stocks That Are Absurdly Cheap Right Now 5 Warren Buffett Principles to Remember in a Volatile Stock Market The $16,728 Social Security Bonus You Cannot Afford to Miss The Must-Read Trump Quote on Social Security 10 Reasons Why I'm Selling All of My Apple Stock Demitrios Kalogeropoulos has no position in any of the stocks mentioned. The Motley Fool owns shares of and recommends Wayfair. The Motley Fool has a disclosure policy . \|\| Here's Where Things Went Wrong With Overstock in 2018: Overstock(NASDAQ: OSTK)shareholders had an awful year last year as the company fell from a $1.8 billion market capitalization to a valuation below $450 million. That slump translates into a 75% stock price decline during a period when the broader market fell by 6%. Several things have to go dramatically wrong for a business to lose that much value in that short of a time. For Overstock, it took two major catalysts to generate one of the market's worst stock performances in 2018. The chain's e-commerce retailing business struggled mightily last year, and those challenges were compounded by major missteps by the management team. Following a sharp sales decline in fiscal 2017, CEO Patrick Byrne and his team announced a dramaticshift in strategies in mid-March. By sacrificing profits through price cuts and extra advertising spending, they explained, sales trends would spike, and rivals likeWayfair(NYSE: W)would see their market share momentum stall. "We have already turned on the jets," Byrne said in a press release, "and will demonstrate this year that our growth engine is far more efficient." Image source: Getty Images. Things didn't turn out that way. Instead, six months later, the company gave up on that strategic shift. As predicted, its profitability dove as the company cut prices and spent more money on marketing. Wayfair's businesswasn't hurt by the competitive move, though, and in fact, the home furnishings giant trounced management's forecasts in each of the next two quarterly reports. All Overstock's management succeeded in doing was driving down the value of its retailing business and demonstrating how poorly it stacked up against peers. Overstock also suffered from poor timing in its pivot toward blockchain and cryptocurrencies, which management has tapped as the key growth driver for the broader business going forward. Executives had been so bullish on the technology that they discussed advancing plans to sell the e-commerce segment of the company and use the cash to fund blockchain initiatives. "When it comes to the world of crypto," Byrne explained in August, "I am well-traveled and can assure [investors] that it is an unusually large, strong group of blockchain talent in and around Medici Ventures," Overstock's blockchain subsidiary. The next few months brought a collapse in value across many of the most popular cryptocurrencies, though, with Bitcoin slumping over 40% in the final quarter of 2018. Investors reacted to that drop by pushing shares of Overstock lower, too, since so much of its value and its earnings potential is now tied to that volatile tech niche. Overstock is still apparentlyplanning to sell its retailing businessto focus on blockchain technology in an announcement that might come before the company announces its holiday-season sales results in the coming weeks. There's no telling whether the sale will actually happen, though, and at what price management might achieve. Thus, investors should be extra cautious about considering starting a position in this stock today, even at this low price. The questions only get bigger looking further out to a future in which Overstock operates solely as a blockchain technology innovator. It's far from certain that the company can generate sustainable profits under that operating model, and recent blunders don't exactly inspire lots of confidence in the management team. As a result, investors are better off watching this volatile stock from the sidelines in 2019. More From The Motley Fool • 10 Best Stocks to Buy Today • 3 Stocks That Are Absurdly Cheap Right Now • 5 Warren Buffett Principles to Remember in a Volatile Stock Market • The $16,728 Social Security Bonus You Cannot Afford to Miss • The Must-Read Trump Quote on Social Security • 10 Reasons Why I'm Selling All of My Apple Stock Demitrios Kalogeropouloshas no position in any of the stocks mentioned. The Motley Fool owns shares of and recommends Wayfair. The Motley Fool has adisclosure policy. \|\| The Finance Prof. Who Says Bitcoin’s Going to ‘Bite The Dust’ Is Wrong: By CCN.com : Kevin Dowd is a Professor of Finance and Economics in the Business School at Durham University, Northeast England, and the co-author of the 2015 paper “Bitcoin Will Bite the Dust,” along with market analyst and author, Martin Hutchinson, for the libertarian Cato Institute in Washington DC. CoinDesk published an op-ed by Dowd Monday, with the title, “Bitcoin Will Still Bite The Dust,” in which the libertarian finance and economics professor avers that Bitcoin is doomed to failure. Well what he says exactly is that Bitcoin will “bite the dust,” and what he means by that is: Bitcoin can “not survive in the long run,” and “I still think that the long-run equilibrium price of bitcoin is zero. It just hasn’t bitten the dust yet.” And technically he might be right, the same way John Maynard Keynes was right when he said: “In the long run we are all dead.” -John Maynard Keynes, Dead British Economist John Maynard Keynes. Image from Wikipedia . But before we take a look at the two reasons Professor Dowd gives for why Bitcoin will “bite the dust,” here’s an excerpt about him from Wikipedia to give you an idea where he’s coming from: “Dowd’s main subject of research is private money and free banking—monetary and financial systems that operate without any government intervention and in the absence of any central bank. A related focus of his work is on central banking and other forms of state intervention into economies, most particularly, on deposit insurance, the lender of last resort and bank capital adequacy regulation. He has repeatedly called for the abolition of central banks and an end to state intervention in the financial system.” So here is an economist who would want Bitcoin to succeed, but doesn’t think it will. That’s interesting. It makes me think he must have a pretty good argument that Bitcoin will fail. Again, “in the long run,” whatever that’s supposed to mean. Story continues Does Dowd have any claim more specific than Bitcoin will bite the dust “in the long run?” If thousands of years from now when humanity is a space-faring, interstellar civilization in the year 40,750, if they’re not still using the very blockchain which began with the first Genesis block mined by Satoshi Nakamoto in 2009, then the ghost of Kevin Dowd can gloat his prediction was true. What use is a prediction like this? If he’s so certain as to Bitcoin’s demise, will Professor Dowd be so bold as to make a forecast of roughly when Bitcoin will bite the dust? Prof. Kevin Dowd lecturing. Image from Wikipedia. The Two Reasons Why Prof. Kevin Dowd Says Bitcoin “Will Bite The Dust” FIRST he claims Bitcoin is ‘a natural monopoly’: ‘To work as intended, the bitcoin system requires atomistic competition on the part of the miners who validate transactions blocks in their search for newly minted bitcoins. However, the mining industry is characterized by large economies of scale. Indeed, these economies of scale are so large that the industry is a natural monopoly. The problem is that atomistic competition and a natural monopoly are inconsistent: the built-in centralization tendencies of the natural monopoly mean that mining firms will become bigger and bigger – and eventually produce an actual monopoly unless the system collapses before then.’ But this simply isn’t true. There are economies of scale involved in bitcoin mining, sure, but a lot of industries that aren’t monopolies have economies of scale. Bitcoin mining happens to be one of them. Below is a pie chart of the market share of bitcoin miners in terms of hash rate distribution. Hash rate is how many operations a bitcoin miner’s computer is doing in a period of time. The higher the hash rate, the greater the opportunity of solving a hash function (by generating random guesses until your computer finds the correct one), which qualifies you to certify the next block of transactions in the chain and receive a reward in bitcoin. From Blockchain.com : An estimation of hashrate distribution amongst the largest mining pools. The graph shows the market share of the most popular bitcoin mining pools. It should only be used as a rough estimate and for various reasons will not be 100% accurate. -Blockchain.com Does that look like a monopoly to you? Looks like some pretty healthy competition to me. And miners themselves are just one major stakeholder in Bitcoin. There’s also the individuals and businesses who hold bitcoin as savings or speculative investment, and who transact business with it. There are the exchanges. There are the wallet companies. And there are the developers for all of these areas. It’s completely inaccurate to portray Bitcoin as a monopoly under someone’s central control when it is, in fact, a brilliantly envisioned, highly robust digital economic architecture with a manifold system of checks and balances built into it like the U.S. Constitution. The Bitcoin blockchain architecture and the vast public digital ledger it has produced on its blockchain constitute the founding digital document of a new economic order based on old principles and new possibilities, and the network of people and computers that maintain it are the founding fathers of a promising establishment. Which is part of my rebuttal to Prof. Dowd’s next contention: SECOND he claims Bitcoin is ‘an inferior product’: ‘There is also the argument that the price of bitcoin must go to zero because an inferior product cannot survive long-term in the absence of regulatory barriers to entry. Imagine you have a market with no entry barriers. The first firm to enter the market has 100 percent of the market share, as bitcoin once did. Competitors then come along and make inroads into the market. Some of these offer products that are superior to the product produced by the first firm, not least because their producers have learned from some of the design flaws in the first firm’s product. And eventually superior rivals displace it completely and the market share of the first product goes to zero.’ But it’s not. Dowd contradicts himself here. First, he says Bitcoin will bite the dust because nobody can survive in the market without getting swallowed up by a bigger beast. Then he literally says Bitcoin will bite the dust because it’s too easy for people to get into the market and compete. And both claims are false. The first claim is false because that’s not what’s actually happening. The market for bitcoin mining is an oligopoly, not a monopoly. The second claim is false because Bitcoin is not an inferior product. Dowd is positing that competitors will find a second mover advantage that will prove fatal to Bitcoin, but the second mover doesn’t always have the advantage. And what we’ve found with Bitcoin, which has a market capitalization in excess of the rest of the planet’s cryptocurrencies combined , is a lot of first-mover advantages . The fact that it came first makes it a very stable boat in the waters. It has the longest, strongest blockchain, and the most battle-hardened network with the most experience weathering bugs and attacks. The fact that it came first has been a major advantage to Bitcoin. The mere fact of its sheer size gives Bitcoin the benefits of the network effect and makes it the most difficult target for a 51% attack. The old tropes about Bitcoin being outdated because it uses a lot of energy either miss the point of Bitcoin entirely, or are deliberately misrepresenting a difference of design philosophy as Bitcoin being outdated. This is a network that uses energy and computation on purpose to create a qualified node. That’s part of what makes Bitcoin so solid. Characterizations of Bitcoin as outdated because of transaction volume also either miss the point of Bitcoin or are deliberately misrepresenting a difference of design philosophy as Bitcoin being outdated. Perhaps Bitcoin isn’t meant for that, but as equity for a store of value as savings, something for which fewer transactions are necessary, and which is highly valued and sought after by markets. Or maybe second layer technologies will facilitate the use of Bitcoin for daily commerce in small amounts because an army of developers makes Bitcoin a superior product every day. Video: CATO’S 32ND ANNUAL MONETARY CONFERENCE (NOV 2014) —brings leading scholars together and advocates for fundamental monetary reform to discuss: – The bitcoin revolution and future of crypto-currencies – How technology will drive further innovations so that private currencies become a reality – The role of gold in a decentralized monetary regime – The steps necessary to return to constitutional money based on the convertibility principle and free banking The post The Finance Prof. Who Says Bitcoin’s Going to ‘Bite The Dust’ Is Wrong appeared first on CCN . \|\| The Finance Prof. Who Says Bitcoin’s Going to ‘Bite The Dust’ Is Wrong: ByCCN.com: Kevin Dowd is a Professor of Finance and Economics in the Business School at Durham University, Northeast England, and the co-author of the 2015 paper“Bitcoin Will Bite the Dust,”along with market analyst and author, Martin Hutchinson, for the libertarian Cato Institute in Washington DC. CoinDesk published an op-ed by Dowd Monday, with the title,“Bitcoin Will Still Bite The Dust,”in which the libertarian finance and economics professor avers that Bitcoin is doomed to failure. Well what he says exactly is that Bitcoin will “bite the dust,” and what he means by that is: Bitcoin can “not survive in the long run,” and “I still think that the long-run equilibrium price of bitcoin is zero. It just hasn’t bitten the dust yet.” And technically he might be right, the same way John Maynard Keynes was right when he said: “In the long run we are all dead.”-John Maynard Keynes, Dead British Economist But before we take a look at the two reasons Professor Dowd gives for why Bitcoin will “bite the dust,” here’s an excerpt about himfrom Wikipediato give you an idea where he’s coming from: “Dowd’s main subject of research is private money and free banking—monetary and financial systems that operate without any government intervention and in the absence of any central bank. A related focus of his work is on central banking and other forms of state intervention into economies, most particularly, on deposit insurance, the lender of last resort and bank capital adequacy regulation. He has repeatedly called for the abolition of central banks and an end to state intervention in the financial system.” So here is an economist whowould wantBitcoin to succeed, butdoesn’t thinkit will. That’s interesting. It makes me think he must have a pretty good argument that Bitcoin will fail. Again, “in the long run,” whateverthat’ssupposed to mean. If thousands of years from now when humanity is a space-faring, interstellar civilization in the year 40,750, if they’re not still using the very blockchain which began with the first Genesis block mined by Satoshi Nakamoto in 2009, then the ghost of Kevin Dowd can gloat his prediction was true.What use is a prediction like this?If he’s so certain as to Bitcoin’s demise, will Professor Dowd be so bold as to make a forecast ofroughly whenBitcoin will bite the dust? ‘To work as intended, the bitcoin system requires atomistic competition on the part of the miners who validate transactions blocks in their search for newly minted bitcoins. However, the mining industry is characterized by large economies of scale. But this simply isn’t true. There are economies of scale involved in bitcoin mining, sure, but a lot of industries that aren’t monopolies have economies of scale. Bitcoin mining happens to be one of them. Below is a pie chart of the market share of bitcoin miners in terms of hash rate distribution. Hash rate is how many operations a bitcoin miner’s computer is doing in a period of time. The higher the hash rate, the greater the opportunity of solving a hash function (by generating random guesses until your computer finds the correct one), which qualifies you to certify the next block of transactions in the chain and receive a reward in bitcoin. From Blockchain.com: Does that look like a monopoly to you? Looks like some pretty healthy competition to me. And miners themselves are just one major stakeholder in Bitcoin. There’s also the individuals and businesses who hold bitcoin as savings or speculative investment, and who transact business with it. • There are the exchanges. • There are the wallet companies. • And there are the developers for all of these areas. It’s completely inaccurate to portray Bitcoin as a monopoly under someone’s central control when it is, in fact, a brilliantly envisioned, highly robust digital economic architecture with a manifold system of checks and balances built into it like the U.S. Constitution. The Bitcoin blockchain architecture and the vast public digital ledger it has produced on its blockchain constitute the founding digital document of a new economic order based on old principles and new possibilities, and the network of people and computers that maintain it are the founding fathers of a promising establishment. Which is part of my rebuttal to Prof. Dowd’s next contention: ‘There is also the argument that the price of bitcoin must go to zero because an inferior product cannot survive long-term in the absence of regulatory barriers to entry. But it’s not. Dowd contradicts himself here. First, he says Bitcoin will bite the dust because nobody can survive in the market without getting swallowed up by a bigger beast. Then he literally says Bitcoin will bite the dust because it’s too easy for people to get into the market and compete. And both claims are false. The first claim is false because that’s not what’s actually happening. The market for bitcoin mining is an oligopoly, not a monopoly. The second claim is false because Bitcoin is not an inferior product. Dowd is positing that competitors will find asecond mover advantagethat will prove fatal to Bitcoin, but the second mover doesn’t always have the advantage. And what we’ve found with Bitcoin, which has a market capitalizationin excess of the rest of the planet’s cryptocurrencies combined, is a lot offirst-mover advantages. The fact that it came first makes it a very stable boat in the waters. It has the longest, strongest blockchain, and the most battle-hardened network with the most experience weathering bugs and attacks. The fact that it came first has been a major advantage to Bitcoin. The mere fact of its sheer size gives Bitcoin the benefits ofthe network effectand makes it the most difficult target for a 51% attack. The old tropes about Bitcoin being outdated because it uses a lot of energy either miss the point of Bitcoin entirely, or are deliberately misrepresenting a difference of design philosophy as Bitcoin being outdated. This is a network that uses energy and computation on purpose to create a qualified node. That’s part of what makes Bitcoin so solid. Characterizations of Bitcoin as outdated because of transaction volume also either miss the point of Bitcoin or are deliberately misrepresenting a difference of design philosophy as Bitcoin being outdated. Perhaps Bitcoin isn’t meant for that, but as equity for a store of value as savings, something for which fewer transactions are necessary, and which is highly valued and sought after by markets. Or maybesecond layer technologies will facilitate the use of Bitcoinfor daily commerce in small amounts because an army of developers makes Bitcoin a superior product every day. Video: CATO’S 32ND ANNUAL MONETARY CONFERENCE (NOV 2014) —brings leading scholars together and advocates for fundamental monetary reform to discuss: – The bitcoin revolution and future of crypto-currencies– How technology will drive further innovations so that private currencies become a reality– The role of gold in a decentralized monetary regime– The steps necessary to return to constitutional money based on the convertibility principle and free banking The postThe Finance Prof. Who Says Bitcoin’s Going to ‘Bite The Dust’ Is Wrongappeared first onCCN. \|\| The Finance Prof. Who Says Bitcoin’s Going to ‘Bite The Dust’ Is Wrong: ByCCN.com: Kevin Dowd is a Professor of Finance and Economics in the Business School at Durham University, Northeast England, and the co-author of the 2015 paper“Bitcoin Will Bite the Dust,”along with market analyst and author, Martin Hutchinson, for the libertarian Cato Institute in Washington DC. CoinDesk published an op-ed by Dowd Monday, with the title,“Bitcoin Will Still Bite The Dust,”in which the libertarian finance and economics professor avers that Bitcoin is doomed to failure. Well what he says exactly is that Bitcoin will “bite the dust,” and what he means by that is: Bitcoin can “not survive in the long run,” and “I still think that the long-run equilibrium price of bitcoin is zero. It just hasn’t bitten the dust yet.” And technically he might be right, the same way John Maynard Keynes was right when he said: “In the long run we are all dead.”-John Maynard Keynes, Dead British Economist But before we take a look at the two reasons Professor Dowd gives for why Bitcoin will “bite the dust,” here’s an excerpt about himfrom Wikipediato give you an idea where he’s coming from: “Dowd’s main subject of research is private money and free banking—monetary and financial systems that operate without any government intervention and in the absence of any central bank. A related focus of his work is on central banking and other forms of state intervention into economies, most particularly, on deposit insurance, the lender of last resort and bank capital adequacy regulation. He has repeatedly called for the abolition of central banks and an end to state intervention in the financial system.” So here is an economist whowould wantBitcoin to succeed, butdoesn’t thinkit will. That’s interesting. It makes me think he must have a pretty good argument that Bitcoin will fail. Again, “in the long run,” whateverthat’ssupposed to mean. If thousands of years from now when humanity is a space-faring, interstellar civilization in the year 40,750, if they’re not still using the very blockchain which began with the first Genesis block mined by Satoshi Nakamoto in 2009, then the ghost of Kevin Dowd can gloat his prediction was true.What use is a prediction like this?If he’s so certain as to Bitcoin’s demise, will Professor Dowd be so bold as to make a forecast ofroughly whenBitcoin will bite the dust? ‘To work as intended, the bitcoin system requires atomistic competition on the part of the miners who validate transactions blocks in their search for newly minted bitcoins. However, the mining industry is characterized by large economies of scale. But this simply isn’t true. There are economies of scale involved in bitcoin mining, sure, but a lot of industries that aren’t monopolies have economies of scale. Bitcoin mining happens to be one of them. Below is a pie chart of the market share of bitcoin miners in terms of hash rate distribution. Hash rate is how many operations a bitcoin miner’s computer is doing in a period of time. The higher the hash rate, the greater the opportunity of solving a hash function (by generating random guesses until your computer finds the correct one), which qualifies you to certify the next block of transactions in the chain and receive a reward in bitcoin. From Blockchain.com: Does that look like a monopoly to you? Looks like some pretty healthy competition to me. And miners themselves are just one major stakeholder in Bitcoin. There’s also the individuals and businesses who hold bitcoin as savings or speculative investment, and who transact business with it. • There are the exchanges. • There are the wallet companies. • And there are the developers for all of these areas. It’s completely inaccurate to portray Bitcoin as a monopoly under someone’s central control when it is, in fact, a brilliantly envisioned, highly robust digital economic architecture with a manifold system of checks and balances built into it like the U.S. Constitution. The Bitcoin blockchain architecture and the vast public digital ledger it has produced on its blockchain constitute the founding digital document of a new economic order based on old principles and new possibilities, and the network of people and computers that maintain it are the founding fathers of a promising establishment. Which is part of my rebuttal to Prof. Dowd’s next contention: ‘There is also the argument that the price of bitcoin must go to zero because an inferior product cannot survive long-term in the absence of regulatory barriers to entry. But it’s not. Dowd contradicts himself here. First, he says Bitcoin will bite the dust because nobody can survive in the market without getting swallowed up by a bigger beast. Then he literally says Bitcoin will bite the dust because it’s too easy for people to get into the market and compete. And both claims are false. The first claim is false because that’s not what’s actually happening. The market for bitcoin mining is an oligopoly, not a monopoly. The second claim is false because Bitcoin is not an inferior product. Dowd is positing that competitors will find asecond mover advantagethat will prove fatal to Bitcoin, but the second mover doesn’t always have the advantage. And what we’ve found with Bitcoin, which has a market capitalizationin excess of the rest of the planet’s cryptocurrencies combined, is a lot offirst-mover advantages. The fact that it came first makes it a very stable boat in the waters. It has the longest, strongest blockchain, and the most battle-hardened network with the most experience weathering bugs and attacks. The fact that it came first has been a major advantage to Bitcoin. The mere fact of its sheer size gives Bitcoin the benefits ofthe network effectand makes it the most difficult target for a 51% attack. The old tropes about Bitcoin being outdated because it uses a lot of energy either miss the point of Bitcoin entirely, or are deliberately misrepresenting a difference of design philosophy as Bitcoin being outdated. This is a network that uses energy and computation on purpose to create a qualified node. That’s part of what makes Bitcoin so solid. Characterizations of Bitcoin as outdated because of transaction volume also either miss the point of Bitcoin or are deliberately misrepresenting a difference of design philosophy as Bitcoin being outdated. Perhaps Bitcoin isn’t meant for that, but as equity for a store of value as savings, something for which fewer transactions are necessary, and which is highly valued and sought after by markets. Or maybesecond layer technologies will facilitate the use of Bitcoinfor daily commerce in small amounts because an army of developers makes Bitcoin a superior product every day. Video: CATO’S 32ND ANNUAL MONETARY CONFERENCE (NOV 2014) —brings leading scholars together and advocates for fundamental monetary reform to discuss: – The bitcoin revolution and future of crypto-currencies– How technology will drive further innovations so that private currencies become a reality– The role of gold in a decentralized monetary regime– The steps necessary to return to constitutional money based on the convertibility principle and free banking The postThe Finance Prof. Who Says Bitcoin’s Going to ‘Bite The Dust’ Is Wrongappeared first onCCN. \|\| Top 5 Crypto Performers Overview: Binance Coin, Cardano, IOTA, Neo, Tron: The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Cointelegraph.com. Every investment and trading move involves risk, you should conduct your own research when making a decision. The market data is provided by the HitBTC exchange. Bitcoin ( BTC ) has proven to be in high demand among citizens of smaller nations like Venezuela, whose economic conditions have been adversely affecting their fiat currencies. Now, cryptocurrencies will face another test with the impending Brexit deal. If the United Kingdom is forced to leave the European Union without a deal, experts believe that the pound will be hit hard, and might lose up to a quarter of its value. With such uncertainty, will the market participants turn towards cryptocurrencies as an alternative source of investment or stick to the classical investment vehicles? We believe that digital currencies will make their presence felt because they are likely at the end of their year-long bear market. According to Binance chief executive Changpeng Zhao, their new Jersey-based trading platform has witnessed a huge demand. CNBC contributor Brian Kelly expects cryptocurrencies to do well in 2019. Geopolitical tension in the world can boost the demand for digital currencies as the investors look to hedge their positions. However, Kelly doesn’t anticipate an approval for Bitcoin ETF this year. BNB/USD Binance was the top performer among the major coins. The news of the launch of Binance Jersey, a fiat-to-crypto exchange for U.K, and European customers, was cheered by the investors. The company plans to capitalize on the uncertainty regarding Brexit and wants to offer the people an opportunity to diversify into cryptocurrencies. Binance also completed its 6th quarterly BNB token burn , roughly equivalent to $9.4 million. So, will its outperformance continue? Let’s find out. BNB/USD The BNB/USD pair is attempting to breakout of the resistance line of the descending channel. For the past four weeks, the bulls have defended the first support at $5.46666. Therefore, we anticipate another attempt to breakout of the channel within the next couple of weeks. Story continues A breakout of the channel will start a new uptrend that can carry the virtual currency to $15, with a minor resistance at $12. The traders can buy on a close (UTC time frame) above the channel and keep a stop loss below $5. Contrary to our opinion, if the bulls fail to breakout of the channel, the bears will try to sink the digital currency below $5. ADA/USD Cardano developer and CEO of IOHK Charles Hoskinson is excited about the forthcoming Project Shelly update. Cardano wallet “Deadalus” can also prove to be a major event, as it aims to be the most secure crypto wallet with a series of inbuilt protections. While some are confident about the prospects of the cryptocurrency, the critics feel that the developments are moving too slowly. ADA/USD After an extended downtrend, the ADA/USD pair has been trading inside the range $0.062424-$0.027237 for the past nine weeks. There was a similar attempt to bottom out previously (marked as ellipse on the chart) that resulted in a breakdown. That consolidation had also lasted for nine weeks before breaking down of it. If the bears breakdown of the current range, the downtrend will resume. However, if the bulls scale the overhead resistance of $0.062424, we can expect the start of a new uptrend that can reach $0.094256 and above it to $0.2. As the upside potential is high, traders can wait for a close (UTC time frame) above the range to initiate a long position. IOTA/USD In the new year, IOTA has announced a couple of collaborations that can help it come on top. Though it has not run away, it has managed to close in the green in the past seven days. Can it move up from here and crack into the top 10? Let’s see. IOTA/USD The IOTA/USD pair is currently trading inside a range. After failing to breakout of $0.4037 for four weeks, the bears pushed prices back in the week before. However, lower levels are attracting buying as the bulls try to stage a recovery from close to $0.272 levels. If the virtual currency rises from the current levels, the bulls will again attempt to breakout from $0.4037. If successful, a rally to $0.6, followed by a move to the next overhead resistance of $0.8152, is probable. However, if the bears fail to force a turnaround at the current levels, a drop to $0.2051 is likely. If this support breaks, a retest of the critical support of $0.1427 will be on the cards. The downtrend will resume if this level gives way. NEO/USD NEO Co-Founder Erik Zhang confesses that he doesn’t watch the daily price action of the virtual currency. He is more concerned with its development. According to him, Ethereum might overtake Bitcoin in the future, and Ethereum itself will face competition from cryptocurrencies such as NEO. Can NEO reclaim its footing among the top 10 cryptocurrencies? Let’s find out. NEO/USD The NEO/USD pair has been trading inside a tight range for the past eight weeks. The attempt by the bulls to scale the range failed in the week before. However, the bears could not push the prices back to the bottom of the range: this shows demand for the digital currency close to $7 level. We expect the bulls to again attempt to break out of the range. If successful, a rally to $16, followed by a move to $20 is probable. Contrary to our expectations, if the bears plunge the virtual currency back below the range, the downtrend will resume. As the previous consolidations had resolved to the downside, we suggest traders wait for a close (UTC time frame) above $10 before initiating any long positions. TRX/USD Tron has slowly but surely cemented its place among the top 10 cryptocurrencies. The markets have cheered the plans to launch BTT token, which will run on the Tron and BitTorrent networks. Its founder, Justin Sun, wants people to think of “Tron” whenever they think of any cryptocurrency. The company also announced a tie up with ABCC cryptocurrency exchange to list tokens based on Tron’s TRC10 technical standard. However, many developers came out against Tron’s Accelerator contest, as the announcement of winners was delayed and the prize money was slashed at the last moment. What is in store for this cryptocurrency? Let’s find out. TRX/USD The TRX/USD pair is range bound between $0.0183-$0.02815521. The breakout of this range in the week before could not sustain, and the price fell back into the range. Last week, the bulls again attempted to breakout of the range but found selling at the resistance line of the range at $0.02815521. If the bulls succeed in pushing the price above the range, a new uptrend is likely. The first target on the upside is $0.04. The traders can buy on a close above the range and keep a stop loss just below $0.021. If, however, the bears defend the top of the range, a few more weeks of range bound action is likely to continue. The virtual currency will turn negative if the price breaks down of the critical support at $0.0183. Market data is provided by the HitBTC exchange. Charts for analysis are provided by TradingView . Related Articles: Bitcoin Falls Towards $3,550 as Top Cryptos See Moderate to Major Losses Top 5 Crypto Performers Overview: Tron, Neo, Cardano, Binance Coin, Litecoin Total Market Cap Drops $5 Billion as All Major Coins Take Price Hit Bitcoin, Ripple, Ethereum, Bitcoin Cash, EOS, Stellar, Litecoin, TRON, Bitcoin SV, Cardano: Price Analysis, Jan. 18 \|\| Top 5 Crypto Performers Overview: Binance Coin, Cardano, IOTA, Neo, Tron: The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Cointelegraph.com. Every investment and trading move involves risk, you should conduct your own research when making a decision. The market data is provided by theHitBTCexchange. Bitcoin (BTC) has proven to be in high demand among citizens of smaller nations like Venezuela, whose economic conditions have been adversely affecting their fiat currencies. Now, cryptocurrencies will face another test with the impending Brexit deal. If the United Kingdom is forced to leave the European Union without a deal, experts believe that the pound will be hit hard, and might lose up to a quarter of its value. With such uncertainty, will the market participants turn towards cryptocurrencies as an alternative source of investment or stick to the classical investment vehicles? We believe that digital currencies will make their presence felt because they are likely at the end of their year-long bear market. According to Binance chief executive Changpeng Zhao, their new Jersey-based trading platform has witnessed ahugedemand. CNBC contributor Brian Kelly expects cryptocurrencies to do well in 2019. Geopolitical tension in the world canboostthe demand for digital currencies as the investors look to hedge their positions. However, Kelly doesn’t anticipate an approval for Bitcoin ETF this year. Binancewas the top performer among the major coins. The news of the launch of Binance Jersey, a fiat-to-crypto exchange for U.K, and European customers, was cheered by the investors. The company plans to capitalize on the uncertainty regarding Brexit and wants to offer the people an opportunity todiversifyinto cryptocurrencies. Binance also completed its 6th quarterly BNBtoken burn, roughly equivalent to $9.4 million. So, will its outperformance continue? Let’s find out. TheBNB/USDpair is attempting to breakout of the resistance line of the descending channel. For the past four weeks, the bulls have defended the first support at $5.46666. Therefore, we anticipate another attempt to breakout of the channel within the next couple of weeks. A breakout of the channel will start a new uptrend that can carry the virtual currency to $15, with a minor resistance at $12. The traders can buy on a close (UTC time frame) above the channel and keep a stop loss below $5. Contrary to our opinion, if the bulls fail to breakout of the channel, the bears will try to sink the digital currency below $5. Cardano developer and CEO of IOHK Charles Hoskinson is excited about the forthcoming Project Shelly update.Cardanowallet “Deadalus” can also prove to be a major event, as it aims to be the most secure crypto wallet with a series of inbuilt protections. While some are confident about the prospects of the cryptocurrency, the critics feel that the developments are moving too slowly. After an extended downtrend, theADA/USDpair has been trading inside the range $0.062424-$0.027237 for the past nine weeks. There was a similar attempt to bottom out previously (marked as ellipse on the chart) that resulted in a breakdown. That consolidation had also lasted for nine weeks before breaking down of it. If the bears breakdown of the current range, the downtrend will resume. However, if the bulls scale the overhead resistance of $0.062424, we can expect the start of a new uptrend that can reach $0.094256 and above it to $0.2. As the upside potential is high, traders can wait for a close (UTC time frame) above the range to initiate a long position. In the new year,IOTAhas announced a couple of collaborations that can help it come on top. Though it has not run away, it has managed to close in the green in the past seven days. Can it move up from here and crack into the top 10? Let’s see. TheIOTA/USDpair is currently trading inside a range. After failing to breakout of $0.4037 for four weeks, the bears pushed prices back in the week before. However, lower levels are attracting buying as the bulls try to stage a recovery from close to $0.272 levels. If the virtual currency rises from the current levels, the bulls will again attempt to breakout from $0.4037. If successful, a rally to $0.6, followed by a move to the next overhead resistance of $0.8152, is probable. However, if the bears fail to force a turnaround at the current levels, a drop to $0.2051 is likely. If this support breaks, a retest of the critical support of $0.1427 will be on the cards. The downtrend will resume if this level gives way. NEOCo-Founder Erik Zhang confesses that he doesn’t watch the daily price action of the virtual currency. He is more concerned with its development. According to him, Ethereum might overtake Bitcoin in the future, and Ethereum itself will face competition from cryptocurrencies such as NEO. Can NEO reclaim its footing among the top 10 cryptocurrencies? Let’s find out. TheNEO/USDpair has been trading inside a tight range for the past eight weeks. The attempt by the bulls to scale the range failed in the week before. However, the bears could not push the prices back to the bottom of the range: this shows demand for the digital currency close to $7 level. We expect the bulls to again attempt to break out of the range. If successful, a rally to $16, followed by a move to $20 is probable. Contrary to our expectations, if the bears plunge the virtual currency back below the range, the downtrend will resume. As the previous consolidations had resolved to the downside, we suggest traders wait for a close (UTC time frame) above $10 before initiating any long positions. Tronhas slowly but surely cemented its place among thetop 10cryptocurrencies. The markets have cheered the plans to launch BTT token, which will run on the Tron and BitTorrent networks. Its founder, Justin Sun, wants people to think of “Tron” whenever they think of any cryptocurrency. The company also announced a tie up with ABCC cryptocurrency exchange to listtokensbased on Tron’s TRC10 technical standard. However, many developers came out against Tron’s Accelerator contest, as the announcement of winners was delayed and the prize money was slashed at the last moment. What is in store for this cryptocurrency? Let’s find out. TheTRX/USDpair is range bound between $0.0183-$0.02815521. The breakout of this range in the week before could not sustain, and the price fell back into the range. Last week, the bulls again attempted to breakout of the range but found selling at the resistance line of the range at $0.02815521. If the bulls succeed in pushing the price above the range, a new uptrend is likely. The first target on the upside is $0.04. The traders can buy on a close above the range and keep a stop loss just below $0.021. If, however, the bears defend the top of the range, a few more weeks of range bound action is likely to continue. The virtual currency will turn negative if the price breaks down of the critical support at $0.0183. Market data is provided by theHitBTCexchange. Charts for analysis are provided byTradingView. • Bitcoin Falls Towards $3,550 as Top Cryptos See Moderate to Major Losses • Top 5 Crypto Performers Overview: Tron, Neo, Cardano, Binance Coin, Litecoin • Total Market Cap Drops $5 Billion as All Major Coins Take Price Hit • Bitcoin, Ripple, Ethereum, Bitcoin Cash, EOS, Stellar, Litecoin, TRON, Bitcoin SV, Cardano: Price Analysis, Jan. 18 \|\| What Are Crypto Executives Still Positive About After Massive 80% Bitcoin Drop?: By CCN.com : In 2018, with the exception of Bitcoin and several other crypto assets, the majority of cryptocurrencies fell by more than 90 percent against the U.S. dollar. Executives in the crypto space, especially those leading new initiatives and businesses in the emerging industry, believe that the bear market has presented companies with positive opportunities to rebuild the foundations of the asset class and the sector. Merits of a Crypto Bear Market The majority of blockchain projects developing protocols or decentralized applications (dApps) have conducted initial coin offerings (ICOs) or token sales in 2017. As such, the valuation of many blockchain companies has been dependent on the performance of tokens. During a bear market, as seen in previous years, cryptocurrencies with strong fundamentals tend to survive and demonstrate minimized losses. According to the data provided by ATHCoinIndex, most major crypto assets such as Ripple, Ethereum, Bitcoin Cash, Litecoin, and Cardano have fallen by 90 to 97 percent from their all-time highs against the U.S. dollar in the past 12 months. Meanwhile, Bitcoin, the most dominant cryptocurrency in the market, has dropped by 82 percent in a 12-month period. Bitcoin remains as one of the few crypto assets to have seen an increase in hash rate throughout the correction. Since January 2018, the hash rate of the Bitcoin network has increased from 15 exahash to 45 exahash, by at least three-fold. Considering the tendency of small market cryptocurrencies or tokens to fall by large margins in comparison to Bitcoin on a downward trend, during a correction, investors often acquire blockchain projects building long-term blockchain-related applications, protocols, and solutions at a substantially lower price. Sheri Kaiserman, the principal advisor of a U.S. investment and recruiting company Maco.la, said : We felt like the best way to make money is to buy the infrastructure companies — the picks and shovels — that are helping build the foundation. They are coming down in valuation, which is the best part of the crypto winter for us Story continues At the peak of the crypto market in late 2017, many blockchain protocols were valued at billions of dollars and the majority of the projects failed to showcase working products and active user bases. In the past 14 months, blockchain projects have fallen to a reasonable valuation, presenting opportunities for investors to acquire equity in infrastructure building companies. Easy to Pick up Talent Previously, CCN reported that the salary of blockchain developers in regions like Switzerland have increased to around $180,000, triggered by a growing interest in blockchain technology internationally. But, job offers in crypto, at least in the past year, have mostly been presented by blockchain companies that have obtained capital through token sales. As blockchain protocols began to decline in valuation and teams started to experience a funding crunch, developers and talent were let go. Spring Labs CEO Adam Jiwan told Bloomberg that it has allowed newly entering companies and existing established businesses to recruit more talent. “The skepticism is warranted in many ways because this technology is nascent and untested at an industrial scale. Our hope is this presents us with a great opportunity to recruit talent,” he said . The post What Are Crypto Executives Still Positive About After Massive 80% Bitcoin Drop? appeared first on CCN . \|\| What Are Crypto Executives Still Positive About After Massive 80% Bitcoin Drop?: By CCN.com : In 2018, with the exception of Bitcoin and several other crypto assets, the majority of cryptocurrencies fell by more than 90 percent against the U.S. dollar. Executives in the crypto space, especially those leading new initiatives and businesses in the emerging industry, believe that the bear market has presented companies with positive opportunities to rebuild the foundations of the asset class and the sector. Merits of a Crypto Bear Market The majority of blockchain projects developing protocols or decentralized applications (dApps) have conducted initial coin offerings (ICOs) or token sales in 2017. As such, the valuation of many blockchain companies has been dependent on the performance of tokens. During a bear market, as seen in previous years, cryptocurrencies with strong fundamentals tend to survive and demonstrate minimized losses. According to the data provided by ATHCoinIndex, most major crypto assets such as Ripple, Ethereum, Bitcoin Cash, Litecoin, and Cardano have fallen by 90 to 97 percent from their all-time highs against the U.S. dollar in the past 12 months. Meanwhile, Bitcoin, the most dominant cryptocurrency in the market, has dropped by 82 percent in a 12-month period. Bitcoin remains as one of the few crypto assets to have seen an increase in hash rate throughout the correction. Since January 2018, the hash rate of the Bitcoin network has increased from 15 exahash to 45 exahash, by at least three-fold. Considering the tendency of small market cryptocurrencies or tokens to fall by large margins in comparison to Bitcoin on a downward trend, during a correction, investors often acquire blockchain projects building long-term blockchain-related applications, protocols, and solutions at a substantially lower price. Sheri Kaiserman, the principal advisor of a U.S. investment and recruiting company Maco.la, said : We felt like the best way to make money is to buy the infrastructure companies — the picks and shovels — that are helping build the foundation. They are coming down in valuation, which is the best part of the crypto winter for us Story continues At the peak of the crypto market in late 2017, many blockchain protocols were valued at billions of dollars and the majority of the projects failed to showcase working products and active user bases. In the past 14 months, blockchain projects have fallen to a reasonable valuation, presenting opportunities for investors to acquire equity in infrastructure building companies. Easy to Pick up Talent Previously, CCN reported that the salary of blockchain developers in regions like Switzerland have increased to around $180,000, triggered by a growing interest in blockchain technology internationally. But, job offers in crypto, at least in the past year, have mostly been presented by blockchain companies that have obtained capital through token sales. As blockchain protocols began to decline in valuation and teams started to experience a funding crunch, developers and talent were let go. Spring Labs CEO Adam Jiwan told Bloomberg that it has allowed newly entering companies and existing established businesses to recruit more talent. “The skepticism is warranted in many ways because this technology is nascent and untested at an industrial scale. Our hope is this presents us with a great opportunity to recruit talent,” he said . The post What Are Crypto Executives Still Positive About After Massive 80% Bitcoin Drop? appeared first on CCN . \|\| What Are Crypto Executives Still Positive About After Massive 80% Bitcoin Drop?: By CCN.com : In 2018, with the exception of Bitcoin and several other crypto assets, the majority of cryptocurrencies fell by more than 90 percent against the U.S. dollar. Executives in the crypto space, especially those leading new initiatives and businesses in the emerging industry, believe that the bear market has presented companies with positive opportunities to rebuild the foundations of the asset class and the sector. Merits of a Crypto Bear Market The majority of blockchain projects developing protocols or decentralized applications (dApps) have conducted initial coin offerings (ICOs) or token sales in 2017. As such, the valuation of many blockchain companies has been dependent on the performance of tokens. During a bear market, as seen in previous years, cryptocurrencies with strong fundamentals tend to survive and demonstrate minimized losses. According to the data provided by ATHCoinIndex, most major crypto assets such as Ripple, Ethereum, Bitcoin Cash, Litecoin, and Cardano have fallen by 90 to 97 percent from their all-time highs against the U.S. dollar in the past 12 months. Meanwhile, Bitcoin, the most dominant cryptocurrency in the market, has dropped by 82 percent in a 12-month period. Bitcoin remains as one of the few crypto assets to have seen an increase in hash rate throughout the correction. Since January 2018, the hash rate of the Bitcoin network has increased from 15 exahash to 45 exahash, by at least three-fold. Considering the tendency of small market cryptocurrencies or tokens to fall by large margins in comparison to Bitcoin on a downward trend, during a correction, investors often acquire blockchain projects building long-term blockchain-related applications, protocols, and solutions at a substantially lower price. Sheri Kaiserman, the principal advisor of a U.S. investment and recruiting company Maco.la, said : We felt like the best way to make money is to buy the infrastructure companies — the picks and shovels — that are helping build the foundation. They are coming down in valuation, which is the best part of the crypto winter for us Story continues At the peak of the crypto market in late 2017, many blockchain protocols were valued at billions of dollars and the majority of the projects failed to showcase working products and active user bases. In the past 14 months, blockchain projects have fallen to a reasonable valuation, presenting opportunities for investors to acquire equity in infrastructure building companies. Easy to Pick up Talent Previously, CCN reported that the salary of blockchain developers in regions like Switzerland have increased to around $180,000, triggered by a growing interest in blockchain technology internationally. But, job offers in crypto, at least in the past year, have mostly been presented by blockchain companies that have obtained capital through token sales. As blockchain protocols began to decline in valuation and teams started to experience a funding crunch, developers and talent were let go. Spring Labs CEO Adam Jiwan told Bloomberg that it has allowed newly entering companies and existing established businesses to recruit more talent. “The skepticism is warranted in many ways because this technology is nascent and untested at an industrial scale. Our hope is this presents us with a great opportunity to recruit talent,” he said . The post What Are Crypto Executives Still Positive About After Massive 80% Bitcoin Drop? appeared first on CCN . \|\| Hodlers Digest, Jan. 1420: Top Stories, Price Movements, Quotes and FUD of the Week: Top Stories This Week Ethereums Constantinople Hard Fork Delayed Until February After Vulnerability Found Ethereums ( ETH ) Constantinople hard fork has been delayed until late February after smart contract audit firm ChainSecurity found a security vulnerability allowing a reentrancy attack. The security bug found would potentially let an attacker steal crypto from a smart contract on the network while requesting funds from it repeatedly while feeding it false data. In the aftermath of the discovery, Ethereum developers said that the activation would instead take place at block number 7,280.000, which is expected to be mined on Feb. 27, 2019, instead of in January . Before the bug was found, an Ethereum developer had said that the hard fork would be the least eventful in the history of Ethereum. New Zealand Crypto Exchange Reports Hack, Local Police Start Investigation New Zealand digital assets exchange Cryptopia reported that a major hack had resulted in significant losses this week. In response, the New Zealand police have released a statement that they are investigating the reportedly major hack, that involved an unconfirmed amount of around $3.6 million . According to the police, the exchange is cooperating with the investigation, and they are still in the process of ascertaining the process of events. In the wake of the reported hack, a lawsuit has been relaunched involving traders who claim they lost funds held on the exchange over a year ago. NYSE-Backed Digital Assets Platform Bakkt Announces First Acquisition Bakkt , the digital assets platform that is backed by the operator of the New York Stock Exchange ( NYSE ), announced an acquisition this week of some assets in futures commission merchant Rosenthal Collins Group (RCG). According to a Medium post, Bakkt CEO Kelly Loeffler noted that this move is part of Bakkts plans to continue operations while awaiting regulatory approval by the United States Commodity Futures Trading Commission ( CFTC ) for the launch of regulated trading in crypto markets. Bakkt had previously announced a target launch date of the end of January, but the platform is still waiting on approval amid the United States ongoing government shutdown. Story continues New Wyoming Legislation Aims to Define Virtual Currencies as Money A bill introduced in the U.S. state of Wyoming this week is meant to define clarify the definition of cryptocurrency. According to the legislation, crypto assets will be placed in one of three categories: digital consumer assets, digital securities and virtual currencies . In the draft, banks will also be authorized to provide digital asset custodial services, and serve as qualified custodians in accordance with regulations put in place by the U.S. Securities and Exchanges Commission ( SEC ). The bill also grants virtual currencies the same treatment as fiat. American University Researchers Jointly Launch Global Scalable Cryptocurrency A group of researchers from American universities announced this week that they are launching a globally scalable and decentralized payments network, with a cryptocurrency dubbed Unit-e. The development of the crypto is being funded by Distributed Technologies Research, a Swiss non-profit, with researchers from the Massachusetts Institute of Technology (MIT), Stanford University and the University of California, Berkeley, among others. The researchers have reportedly received funding from blockchain investment fund Pantera Capital . Winners and Losers The crypto markets are slightly up at the end of the week, with Bitcoin trading at around $3,730, Ripple at around $0.33 and Ethereum at $124. Total market cap is at about $124 billion. The top three altcoin gainers of the week are PayPie, PlayerCoin and TRONCLASSIC. The top three altcoin losers of the week are ICOBay, HondaisCoin and PitisCoin. Winners and Losers For more info on crypto prices, make sure to read Cointelegraphs market analysis . Most Memorable Quotations [Volatility] is not a reason to bury them [cryptocurrencies]. There is both a bright side and a dark side here, as well as in any social phenomena and any economic institution. We should monitor carefully what is going on in the space Dmitry Medvedev , prime minister of Russia This has hampered innovation and left many American businesses in regulatory limbo, particularly with respect to whether or not their tokens are classified as securities, George Nethercutt , former Republican Representative speaking on the perceived slowness of regulators The ICO mania of 2017 we view that as the Pets.com of the securities token world. They were unregistered and it was crazy town for about six months there. I think the next wave will see the real innovation, and the really interesting assets that become tokenized like real estate, like buildings that are currently not traded in a really liquid fashion. So thats exciting, Cameron Winklevoss, co-founder of cryptocurrency trading platform Gemini "It's a gamble. You're not going to get the same returns as you would if you had gotten in on it early because it became mainstream and everybody know [sic] about Bitcoin now, Soulja Boy , rapper, speaking about cryptocurrency trading FUD of the Week Crypto Analyst Brian Kelly Believes Bitcoin ETF Wont Be Approved in 2019 Brian Kelly, a crypto analyst that regularly contributes to CNBC, said this week in an interview with Cointelegraph that there is no real chance for a Bitcoin exchange-traded fund ( ETF ) to be approved in 2019. When speaking about the crypto market in general, Kelly did say that 2019 will end up better than 2018 as he believes that the bear market is almost over. However, even though Kelly believes that Bitcoin will become a more accepted asset among mainstream investors, he told Cointelegraph that there is no shot for government approval for a BTC ETF. Torrent Movie File Malware Can Replace Cryptocurrency Addresses, Research Shows A new type of crypto-related malware that poses as a movie file from torrenting website The Pirate Bay is able to manipulate web pages in order to replace Bitcoin and Ethereum addresses, according to new research. The malware performs multiple actions , both injecting advertising on Google as well as containing malicious code for the address switching in the movie file that purports to be a link for The Girl in the Spiders Web. According to the research, the malware works when Windows PC owners use the copy+paste function, swapping out crypto wallet addresses for those owned by the hacker. Cryptojacking Malware Disables Cloud-Based Security on Linux, Report Finds A Monero ( XMR ) mining malware has be found to contain the ability to disable cloud-based security measures to avoid its detection on Linux servers , according to research conducted by security firm Palo Alto Networks this week. The malware, reportedly a modified version of the one used by the Rocke group, checks for other crypto mining processes and adds firewall rules to block any other cryptojacking malware already active. According to the research, the malware also looks for cloud security measures from Tencent and Alibaba , and is able to neutralize them. Best Cointelegraph Features Cryptopia Alleged Hack: Police Are on the Case While Community Tracks Down Stolen Funds In the wake of the reported $3.6 million hack of the New Zealand cryptocurrency exchange, Cointelegraph looks at the history of the incident as well as the publics reaction. Even after the police have announced their involvement, the crypto community has put forward doubts online about the incident. What We Know About Google Ads Allegedly Blacklisting Ethereum as a Keyword After Decenter reported that their Google Ads were being blocked for using Ethereum as a keyword, a Cointelegraph follow-up looked into whether the rumors are true. Hint? They are. Blockchain-Powered Prediction Platforms: Governance and Uses Beyond Gimmick Markets & Death Pools After the recent allegations that crypto prediction platform Augur only has about $100,000 at stake on their platform, Cointelegraph looks into the various other problems that can arise on related platforms. Related Articles: Coinbase Adds Cross-Border Wire Transfers for High-Volume Customers in Europe, Asia Law Enforcement Requests to Shapeshift Rose 175% in Second Half of 2018 Binance Freezes Some Tokens Stolen From Cryptopia: CEO CZ Windows Torrent File Malware Can Swap Out Crypto Addresses, Researcher Warns \|\| Hodler’s Digest, Jan. 14–20: Top Stories, Price Movements, Quotes and FUD of the Week: Ethereum’s Constantinople Hard Fork Delayed Until February After Vulnerability Found Ethereum’s (ETH) Constantinople hard fork has beendelayeduntil late February after smart contract audit firm ChainSecurityfounda security vulnerability allowing a reentrancy attack. The security bug found wouldpotentially let an attacker steal crypto from a smart contracton the network while requesting funds from it repeatedly while feeding it false data. In the aftermath of the discovery, Ethereum developers said that the activation would instead take place at block number 7,280.000, which is expected to be mined on Feb. 27, 2019,instead of in January. Before the bug was found, an Ethereum developer hadsaidthat the hard fork would be the least eventful in the history of Ethereum. New Zealand Crypto Exchange Reports Hack, Local Police Start Investigation New Zealand digital assets exchange Cryptopiareportedthat a major hack had resulted in significant losses this week. In response, the New Zealand police havereleaseda statement that they are investigating the reportedly major hack, that involved anunconfirmed amount of around $3.6 million. According to the police, the exchange is cooperating with the investigation, and they are still in the process of ascertaining the process of events. In the wake of the reported hack, a lawsuit has been relaunched involving traders who claim they lost funds held on the exchange over a year ago. NYSE-Backed Digital Assets Platform Bakkt Announces First Acquisition Bakkt, the digital assets platform that is backed by the operator of the New York Stock Exchange (NYSE),announcedan acquisition this week of some assets in futures commission merchant Rosenthal Collins Group (RCG). According to a Medium post, Bakkt CEO Kelly Loeffler noted that this move is part of Bakkt’s plans tocontinue operations while awaiting regulatory approvalby theUnited StatesCommodity Futures Trading Commission (CFTC) for the launch of regulated trading in crypto markets. Bakkt had previouslyannounceda target launch date of the end of January, but the platform is still waiting on approval amid the United States’ ongoing government shutdown. New Wyoming Legislation Aims to Define Virtual Currencies as Money A bill introduced in the U.S. state ofWyomingthis week ismeantto define clarify the definition of cryptocurrency. According to the legislation, crypto assets will be placed in one of three categories:digital consumer assets, digital securities and virtual currencies. In the draft, banks will also be authorized to provide digital asset custodial services, and serve as qualified custodians in accordance with regulations put in place by the U.S. Securities and Exchanges Commission (SEC). The bill also grants virtual currencies the same treatment as fiat. American University Researchers Jointly Launch Global Scalable Cryptocurrency A group of researchers from American universitiesannouncedthis week that they are launching a globally scalable and decentralized payments network, with a cryptocurrency dubbed “Unit-e.” The development of the crypto is being funded by Distributed Technologies Research, a Swiss non-profit, with researchers from the Massachusetts Institute of Technology (MIT), Stanford University and the University of California, Berkeley, among others. The researchers have reportedlyreceived funding from blockchain investment fund Pantera Capital. The crypto markets are slightly up at the end of the week, with Bitcoin trading at around $3,730, Ripple at around $0.33 and Ethereum at $124. Total market cap is at about $124 billion. The top three altcoin gainers of the week are PayPie, PlayerCoin and TRONCLASSIC. The top three altcoin losers of the week are ICOBay, HondaisCoin and PitisCoin. For more info on crypto prices, make sure to read Cointelegraph’smarket analysis. “[Volatility] is not a reason to bury them [cryptocurrencies]. There is both a bright side and a dark side here, as well as in any social phenomena and any economic institution. We should monitor carefully what is going on in the space”—Dmitry Medvedev, prime minister of Russia “This has hampered innovation and left many American businesses in regulatory limbo, particularly with respect to whether or not their tokens are classified as securities,” —George Nethercutt, former Republican Representative speaking on the perceived slowness of regulators “The ICO mania of 2017 — we view that as the Pets.com of the securities token world. They were unregistered and it was crazy town for about six months there. I think the next wave will see the real innovation, and the really interesting assets that become tokenized — like real estate, like buildings that are currently not traded in a really liquid fashion. So that’s exciting,” — Cameron Winklevoss, co-founder of cryptocurrency trading platformGemini "It's a gamble. You're not going to get the same returns as you would if you had gotten in on it early because it became mainstream and everybody know [sic] about Bitcoin now,”Soulja Boy, rapper, speaking about cryptocurrency trading Crypto Analyst Brian Kelly Believes Bitcoin ETF Won’t Be Approved in 2019 Brian Kelly, a crypto analyst that regularly contributes to CNBC,saidthis week in an interview with Cointelegraph that there is no real chance for a Bitcoin exchange-traded fund (ETF) to be approved in 2019. When speaking about the crypto market in general, Kelly did say that 2019 will end up better than 2018 as he believes that the bear market is almost over. However, even though Kelly believes that Bitcoin will become a more accepted asset among mainstream investors, he told Cointelegraph that there is“no shot” for government approvalfor a BTC ETF. Torrent Movie File Malware Can Replace Cryptocurrency Addresses, Research Shows A new type of crypto-related malware thatposesas a movie file from torrenting website The Pirate Bay is able to manipulate web pages in order to replace Bitcoin and Ethereum addresses, according to new research. The malwareperforms multiple actions, both injecting advertising onGoogleas well as containing malicious code for the address switching in the movie file that purports to be a link for The Girl in the Spider’s Web. According to the research, the malware works when Windows PC owners use the copy+paste function, swapping out crypto wallet addresses for those owned by the hacker. Cryptojacking Malware Disables Cloud-Based Security on Linux, Report Finds A Monero (XMR) mining malware has befoundto contain the ability to disable cloud-based security measures toavoid its detection on Linux servers, according to research conducted by security firm Palo Alto Networks this week. The malware, reportedly a modified version of the one used by the “Rocke” group, checks for other crypto mining processes and adds firewall rules to block any other cryptojacking malware already active. According to the research, the malware also looks for cloud security measures from Tencent andAlibaba, and is able to neutralize them. Cryptopia Alleged Hack: Police Are on the Case While Community Tracks Down Stolen Funds In the wake of the reported $3.6 million hack of the New Zealand cryptocurrency exchange, Cointelegraph looks at the history of the incident as well as the public’s reaction. Even after the police have announced their involvement, the crypto community has put forward doubts online about the incident. What We Know About Google Ads Allegedly Blacklisting ‘Ethereum’ as a Keyword After Decenter reported that their Google Ads were being blocked for using “Ethereum” as a keyword, a Cointelegraph follow-up looked into whether the rumors are true. Hint? They are. Blockchain-Powered Prediction Platforms: Governance and Uses Beyond Gimmick Markets & Death Pools After the recent allegations that crypto prediction platform Augur only has about $100,000 at stake on their platform, Cointelegraph looks into the various other problems that can arise on related platforms. • Coinbase Adds Cross-Border Wire Transfers for High-Volume Customers in Europe, Asia • Law Enforcement Requests to Shapeshift Rose 175% in Second Half of 2018 • Binance Freezes ‘Some’ Tokens Stolen From Cryptopia: CEO CZ • Windows Torrent File Malware Can Swap Out Crypto Addresses, Researcher Warns \|\| Lack of ETNs Keeps Wall Street Away From Bitcoin, Says CBOE Analyst Ed Tilly: Ed Tilly, CEO, president and chairman at the Chicago Board Options Exchange ( CBOE ), declared that there is a need for Bitcoin ( BTC ) exchange-traded notes (ETNs) in order for Wall Street institutional investors to join the crypto space. Financial newspaper Business Insider reported on Tilly’s comments on Jan.18. According to the aforementioned article, Tilly declared that “the growth of Bitcoin in listed markets is still hamstrung by the lack of a trading product geared toward mom-and-pop investors.” According to him, Bitcoin futures did not see substantial growth because of the lack of a note or tracker tied to BTC that retail customers could trade. The article elaborates that both futures and exchange-traded notes are important for offering access points to Wall Street-type investors. According to the article, Tilly explained that ETNs are more accessible to the average investor when compared to futures because of their lower barrier for entry. Tilly continued: “The power of having that future there is also having an ETN that is more attractive to retail, and then institutions can lay that risk off on the listed futures market. [...] Absent that leg and introducing trackers or notes, I think we will be in this, 'It trades every day, but it is not the story.'” According to Tilly, the reason why regulators did not approve a Bitcoin exchange-traded product, such as the still-pending exchange-traded fund ( ETF ) applications, is that the regulators cannot protect investors from manipulation on a market they cannot control. “You answer that question, you get your first ETN,” concluded Tilly. As Cointelegraph recently reported , crypto entrepreneur and regular contributor to CNBC Brian Kelly claimed that there is no chance for a Bitcoin ( BTC ) ETF approval in 2019. Also, recently news broke that cryptocurrency index fund provider Bitwise Asset Management has applied with the United States Securities and Exchange Commission ( SEC ) to launch a new Bitcoin exchange-traded fund. Related Articles: Hodler’s Digest, Jan. 14–20: Top Stories, Price Movements, Quotes and FUD of the Week Crypto Analyst Brian Kelly: ‘No Shot’ for Bitcoin ETF in 2019 Bitwise Files With the US SEC for a Physically Held Bitcoin ETF Coinbase Adds Cross-Border Wire Transfers for High-Volume Customers in Europe, Asia \|\| Lack of ETNs Keeps Wall Street Away From Bitcoin, Says CBOE Analyst Ed Tilly: Ed Tilly, CEO, president and chairman at the Chicago Board Options Exchange (CBOE), declared that there is a need for Bitcoin (BTC) exchange-traded notes (ETNs) in order for Wall Street institutional investors to join the crypto space. Financial newspaper Business Insiderreportedon Tilly’s comments on Jan.18. According to the aforementioned article, Tilly declared that “the growth of Bitcoin in listed markets is still hamstrung by the lack of a trading product geared toward mom-and-pop investors.” According to him,Bitcoin futuresdid not see substantial growth because of the lack of a note or tracker tied to BTC that retail customers could trade. The article elaborates that both futures and exchange-traded notes are important for offering access points to Wall Street-type investors. According to the article, Tilly explained that ETNs are more accessible to the average investor when compared to futures because of their lower barrier for entry. Tilly continued: “The power of having that future there is also having an ETN that is more attractive to retail, and then institutions can lay that risk off on the listed futures market. [...] Absent that leg and introducing trackers or notes, I think we will be in this, 'It trades every day, but it is not the story.'” According to Tilly, the reason why regulators did not approve a Bitcoin exchange-traded product, such as thestill-pendingexchange-traded fund (ETF) applications, is that the regulators cannot protect investors from manipulation on a market they cannot control. “You answer that question, you get your first ETN,” concluded Tilly. As Cointelegraph recentlyreported, crypto entrepreneur and regular contributor to CNBC Brian Kelly claimed that there is no chance for a Bitcoin (BTC) ETF approval in 2019. Also, recentlynews brokethat cryptocurrency index fund provider Bitwise Asset Management has applied with theUnited StatesSecurities and Exchange Commission (SEC) to launch a new Bitcoin exchange-traded fund. • Hodler’s Digest, Jan. 14–20: Top Stories, Price Movements, Quotes and FUD of the Week • Crypto Analyst Brian Kelly: ‘No Shot’ for Bitcoin ETF in 2019 • Bitwise Files With the US SEC for a Physically Held Bitcoin ETF • Coinbase Adds Cross-Border Wire Transfers for High-Volume Customers in Europe, Asia [Social Media Buzz] Precio: $67,893.09 Fuente: @Bitso #Bitso #BTCMXN $btc Hora: 2019-01-21 18:00:02 (GMT-6) \|\| Bitcoin And Ethereum Price Forecast – News Driven Momentum To Further Pressure Crypto Markets https://www.fxempire.com/forecasts/article/bitcoin-and-ethereum-price-forecast-news-driven-momentum-to-further-pressure-crypto-markets-548320 … \|\| Read #Crypto & #Forex news: https://bitcoin.cartel.click Australia financial press notes 50/50 chance for RBA rate cut … in December https://www.forexlive.com/news/!/...	3604.58, 3585.12, 3600.87, 3599.77, 3602.46, 3583.97, 3470.45, 3448.12, 3486.18, 3457.79
Given the historical Bitcoin prices from the last 90 days, predict the next 10 daily closing prices. The historical prices are: 7400.90, 7278.12, 7217.43, 7243.13, 7269.68, 7124.67, 7152.30, 6932.48, 6640.52, 7276.80, 7202.84, 7218.82, 7191.16, 7511.59, 7355.63, 7322.53, 7275.16, 7238.97, 7290.09, 7317.99, 7422.65, 7293.00, 7193.60, 7200.17, 6985.47, 7344.88, 7410.66, 7411.32, 7769.22, 8163.69, 8079.86, 7879.07, 8166.55, 8037.54, 8192.49, 8144.19, 8827.76, 8807.01, 8723.79, 8929.04, 8942.81, 8706.25, 8657.64, 8745.89, 8680.88, 8406.52, 8445.43, 8367.85, 8596.83, 8909.82, 9358.59, 9316.63, 9508.99, 9350.53, 9392.88, 9344.37, 9293.52, 9180.96, 9613.42, 9729.80, 9795.94, 9865.12, 10116.67, 9856.61, 10208.24, 10326.05, 10214.38, 10312.12, 9889.42, 9934.43, 9690.14, 10142.00, 9633.39, 9608.48, 9686.44, 9663.18, 9924.52, 9650.17, 9341.71, 8820.52, 8784.49, 8672.46, 8599.51, 8562.45, 8869.67, 8787.79, 8755.25, 9078.76, 9122.55, 8909.95.	[Bitcoin Technical Analysis for 2020-03-07] Volume: 36216930370, RSI (14-day): 44.30, 50-day EMA: 9092.02, 200-day EMA: 8639.99 [Wider Market Context] None available. [Recent News (last 7 days)] IRS Crypto Summit Was About the Exchange of Ideas, Not Tax Guidance: WASHINGTON — “We might be overcomplicating things,” an audience member at the Internal Revenue Service’s crypto summit said midway through the first panel. The IRS hosted four panels Tuesday, discussingtechnology, exchanges, the tax filing process and regulatory guidancein a daylong session uniting industry stakeholders, tax experts and regulators. The goal: Sort out some of the questions and concerns the broader crypto-holding public has about reporting its taxes. While there were no answers and no new guidance for the industry (though virtual currency did make it to the IRS’s priority guidance planpublished Friday), the event still represents a step forward for the opaque regulatory agency, which in a decade has only produced two pieces of binding guidance and published some non-binding documents for taxpayers and financial advisors. Related:Uphold Teams With TaxBit to More Accurately Report Users’ Crypto Trades “There’s a clear desire from both industry and regulators to understand this,” Chandan Lodha of CoinTracker told CoinDesk. Financial advisers want to ensure they don’t have their clients fulfill costly reporting requirements only to discover they didn’t need to, EY partner Michael Meisler said during a panel. At another point a Coinbase vice president asked for clarity about reporting forms. On the IRS side, numerous agency employees filled the auditorium with questions of their own, asking for clarity on how blockchain forensics works on a technical level, how privacy coins differ from cryptocurrencies likebitcoin(BTC) and even just what specifically they could do to simplify the process for taxpayers. There is some frustration on the industry side at the lack of existing guidance, and the event did not indicate that any new guidance will be forthcoming. Still, Lodha said the event was a positive step. Related:Ex-Microsoft Engineer Used Bitcoin to Help Embezzle Millions From Tech Giant Unlike traditional panels, where a moderator asks panelists questions, the IRS event seemed geared from the outset to let audience members and even panelists ask IRS officials to clarify existing tax guidance and address lingering questions. Specific questions included the best ways to calculate cost basis, how to treat coins bought from different exchanges or transferred between exchanges, whether microtransactions can be exempted and how to marry what tax code says with non-binding guidance published by the IRS so far. “It would certainly be more helpful … if there was published guidance rather than just these frequently-asked-questions because in the absence of that, what we have is, ‘Well, this isn’t really authority,’” said EY’s Meisler, during a panel on tax return preparation. It was a common refrain. Audience members and panelists alike – including Kraken Head of Global Tax Lisa Askenazy Felix, Coinbase tax VP Kyle Zander and American Institute of Certified Public Accountants (AICPA) senior manager Amy Yiqiong Wang – said a lot of confusion stems from the fact that a lot of cryptocurrencies still don’t fall neatly into any existing tax laws. “The rules don’t exist today to tell you exactly [how] to [file taxes],” Askenazy Felix said during a panel on exchanges. EY’s Meisler told CoinDesk after the event that he believed it went well, noting IRS Assistant Deputy Commissioner John Cardone opened his panel by telling audience members the tax collector was looking for specific issues of interest to the industry. “The people that were there from industry were asking questions that were very targeted, whether they develop software that conducts tax calculations or they were from exchanges, they were asking specific questions,” Meisler said. One key detail that remains unclear is how exactly taxpayers can calculate the value of their digital assets. The IRS has indicated in its frequently asked questions that individuals who buy and sell crypto at different times can use a method like “first-in-first-out,” meaning if you buy bitcoin in January, March and April and sell in July, August and September, you would calculate the difference in price between the first bitcoin you bought in January and the first bitcoin you sold in July. However, this may not actually be allowable. AICPA’s Wang said during a panel the tax code says users “should use specific identity,” meaning the cost should be calculated on the actual specific bitcoin being transacted. “So there is no binding authority at the moment that allows you to use anything other than specific identification,” she said. “It’s really important for practitioners that the IRS comes out with clarity and guidance saying you can use other forms of tracking basis.” While there were specific questions, various IRS officials also asked what the crypto industry might see as more basic questions – including “what is an API,” what regulatory arbitrage is and how cryptocurrencies are transacted. “I’m getting the sense there’s a wide array of sophistication in the room,” said Coinsource’s Arnold Spencer during a panel on technology updates. Meisler told CoinDesk that having individuals who appeared to have different levels of understanding about the crypto space and technology is not surprising, and having everyone in a room together was likely a good thing. “Before someone can answer ‘How do we tax cryptocurrency?’ or ‘How do we tax a hard fork or an airdrop?’ it’s helpful to understand what the mechanics of those transactions are,” he said. It’s unclear whether the IRS will be able to publish anything actionable in the near future. However, there are some steps it can take immediately to clarify its existing guidance. Wang told CoinDesk that just moving its list of FAQs into the Internal Review Bulletin would provide some clarity, a view Meisler echoed. Because the FAQs are not published in the bulletin, they’re not binding guidance; the IRS can change any recommendations on it as it wishes, which the agency has actually been doing, Wang said. Some of the questions on the FAQ now appear at different points than when first published. Turning these questions into binding guidance would give financial advisors and taxpayers the comfort of knowing they were looking at proper legal guidance, which could prevent them from inadvertently violating the tax code. • The IRS Is Inviting Crypto Firms to a ‘Summit’ in DC Next Month • IRS Refused to Clarify Its Crypto Tax Guidance Isn’t Binding, US Watchdog Says \|\| IRS Crypto Summit Was About the Exchange of Ideas, Not Tax Guidance: WASHINGTON — “We might be overcomplicating things,” an audience member at the Internal Revenue Service’s crypto summit said midway through the first panel. The IRS hosted four panels Tuesday, discussing technology, exchanges, the tax filing process and regulatory guidance in a daylong session uniting industry stakeholders, tax experts and regulators. The goal: Sort out some of the questions and concerns the broader crypto-holding public has about reporting its taxes. While there were no answers and no new guidance for the industry (though virtual currency did make it to the IRS’s priority guidance plan published Friday ), the event still represents a step forward for the opaque regulatory agency, which in a decade has only produced two pieces of binding guidance and published some non-binding documents for taxpayers and financial advisors. Related: Uphold Teams With TaxBit to More Accurately Report Users’ Crypto Trades “There’s a clear desire from both industry and regulators to understand this,” Chandan Lodha of CoinTracker told CoinDesk. Financial advisers want to ensure they don’t have their clients fulfill costly reporting requirements only to discover they didn’t need to, EY partner Michael Meisler said during a panel. At another point a Coinbase vice president asked for clarity about reporting forms. On the IRS side, numerous agency employees filled the auditorium with questions of their own, asking for clarity on how blockchain forensics works on a technical level, how privacy coins differ from cryptocurrencies like bitcoin (BTC) and even just what specifically they could do to simplify the process for taxpayers. There is some frustration on the industry side at the lack of existing guidance, and the event did not indicate that any new guidance will be forthcoming. Still, Lodha said the event was a positive step. Related: Ex-Microsoft Engineer Used Bitcoin to Help Embezzle Millions From Tech Giant Unlike traditional panels, where a moderator asks panelists questions, the IRS event seemed geared from the outset to let audience members and even panelists ask IRS officials to clarify existing tax guidance and address lingering questions. Story continues Calculations and filing Specific questions included the best ways to calculate cost basis, how to treat coins bought from different exchanges or transferred between exchanges, whether microtransactions can be exempted and how to marry what tax code says with non-binding guidance published by the IRS so far. “It would certainly be more helpful … if there was published guidance rather than just these frequently-asked-questions because in the absence of that, what we have is, ‘Well, this isn’t really authority,’” said EY’s Meisler, during a panel on tax return preparation. It was a common refrain. Audience members and panelists alike – including Kraken Head of Global Tax Lisa Askenazy Felix, Coinbase tax VP Kyle Zander and American Institute of Certified Public Accountants (AICPA) senior manager Amy Yiqiong Wang – said a lot of confusion stems from the fact that a lot of cryptocurrencies still don’t fall neatly into any existing tax laws. “The rules don’t exist today to tell you exactly [how] to [file taxes],” Askenazy Felix said during a panel on exchanges. EY’s Meisler told CoinDesk after the event that he believed it went well, noting IRS Assistant Deputy Commissioner John Cardone opened his panel by telling audience members the tax collector was looking for specific issues of interest to the industry. “The people that were there from industry were asking questions that were very targeted, whether they develop software that conducts tax calculations or they were from exchanges, they were asking specific questions,” Meisler said. One key detail that remains unclear is how exactly taxpayers can calculate the value of their digital assets. The IRS has indicated in its frequently asked questions that individuals who buy and sell crypto at different times can use a method like “ first-in-first-out ,” meaning if you buy bitcoin in January, March and April and sell in July, August and September, you would calculate the difference in price between the first bitcoin you bought in January and the first bitcoin you sold in July. However, this may not actually be allowable. AICPA’s Wang said during a panel the tax code says users “should use specific identity,” meaning the cost should be calculated on the actual specific bitcoin being transacted. “So there is no binding authority at the moment that allows you to use anything other than specific identification,” she said. “It’s really important for practitioners that the IRS comes out with clarity and guidance saying you can use other forms of tracking basis.” ‘Sophistication’ While there were specific questions, various IRS officials also asked what the crypto industry might see as more basic questions – including “what is an API,” what regulatory arbitrage is and how cryptocurrencies are transacted. “I’m getting the sense there’s a wide array of sophistication in the room,” said Coinsource’s Arnold Spencer during a panel on technology updates. Meisler told CoinDesk that having individuals who appeared to have different levels of understanding about the crypto space and technology is not surprising, and having everyone in a room together was likely a good thing. “Before someone can answer ‘How do we tax cryptocurrency?’ or ‘How do we tax a hard fork or an airdrop?’ it’s helpful to understand what the mechanics of those transactions are,” he said. It’s unclear whether the IRS will be able to publish anything actionable in the near future. However, there are some steps it can take immediately to clarify its existing guidance. Wang told CoinDesk that just moving its list of FAQs into the Internal Review Bulletin would provide some clarity, a view Meisler echoed. Because the FAQs are not published in the bulletin, they’re not binding guidance; the IRS can change any recommendations on it as it wishes, which the agency has actually been doing, Wang said. Some of the questions on the FAQ now appear at different points than when first published. Turning these questions into binding guidance would give financial advisors and taxpayers the comfort of knowing they were looking at proper legal guidance, which could prevent them from inadvertently violating the tax code. Related Stories The IRS Is Inviting Crypto Firms to a ‘Summit’ in DC Next Month IRS Refused to Clarify Its Crypto Tax Guidance Isn’t Binding, US Watchdog Says \|\| Coronavirus risks lead to postponement of this month’s major crypto and blockchain events: The global coronavirus outbreak is affecting this season's cryptocurrency and blockchain events, with two organizers announcing postponements Friday due to health concerns. Bitcoin 2020, organized by BTC Inc, was originally scheduled for March 27-28. However,in a statementpublished online, BTC Inc CEO David Bailey said that the event will be moved to the third quarter of 2020 instead. "The Bitcoin 2020 team has been in close contact with health authorities, the Office of the Mayor of San Francisco and the State of California regarding this evolving situation," Bailey wrote. "Following this week’s State of Emergency declaration by Governor Newsom and yesterday’s announcement by Mayor Breed regarding community transmission in the city, our commitment to delivering the best experience and protecting the safety of our community necessitated this shift." Bailey wrote that previously purchased tickets would be usable for the rescheduled event, but indicated that some attendees could receive refunds. "Our standard policy is that all ticket sales are final, however this is a unique circumstance. We think you’re going to love the new Bitcoin 2020 event, and ask that all registered attendees wait until updated details are announced before requesting a refund," he wrote. "For any attendee that is unable to participate in the new event, we will work with you individually." The DC Blockchain Summit, scheduled to take place next week in Washington, D.C., has also been postponed, though no details have yet been published as to when it might take place. According toa published statement, "we are currently working on a new date for the event and will update you with our plan on this site once that information is available." "This was a difficult decision, as we had a great event with fascinating speakers lined up in Washington. But the health and safety of our speakers, guests and the Chamber team comes first," the statement added. One bitcoin-focused event that seemed on the verge of cancellation – the Massachusetts Institute of Technology (MIT) Bitcoin Expo – is going ahead as planned, with some health-minded considerations. The MIT Bitcoin Club, the expo's organizers,said late Thursdaythat university officials had issued a statement which indicated that on-campus events – with very few exceptions – would be canceled given the coronavirus risk. On Friday morning, the Clubsaidthat MIT officials approved the event. "Each room will be capped @ 150 people. There will be hand sanitizer and soap available - keep hands clean. Please refrain from shaking hands - don't be offended," they wrote on their Twitter account. Earlier this week, the organizers of the Paris Blockchain Week Summitrescheduled their eventuntil December, citing health concerns and new regulations issued by the French government. \|\| Coronavirus risks lead to postponement of this month’s major crypto and blockchain events: The global coronavirus outbreak is affecting this season's cryptocurrency and blockchain events, with two organizers announcing postponements Friday due to health concerns. Bitcoin 2020, organized by BTC Inc, was originally scheduled for March 27-28. However, in a statement published online, BTC Inc CEO David Bailey said that the event will be moved to the third quarter of 2020 instead. "The Bitcoin 2020 team has been in close contact with health authorities, the Office of the Mayor of San Francisco and the State of California regarding this evolving situation," Bailey wrote. "Following this week’s State of Emergency declaration by Governor Newsom and yesterday’s announcement by Mayor Breed regarding community transmission in the city, our commitment to delivering the best experience and protecting the safety of our community necessitated this shift." Bailey wrote that previously purchased tickets would be usable for the rescheduled event, but indicated that some attendees could receive refunds. "Our standard policy is that all ticket sales are final, however this is a unique circumstance. We think you’re going to love the new Bitcoin 2020 event, and ask that all registered attendees wait until updated details are announced before requesting a refund," he wrote. "For any attendee that is unable to participate in the new event, we will work with you individually." The DC Blockchain Summit, scheduled to take place next week in Washington, D.C., has also been postponed, though no details have yet been published as to when it might take place. According to a published statement , "we are currently working on a new date for the event and will update you with our plan on this site once that information is available." "This was a difficult decision, as we had a great event with fascinating speakers lined up in Washington. But the health and safety of our speakers, guests and the Chamber team comes first," the statement added. Story continues One bitcoin-focused event that seemed on the verge of cancellation – the Massachusetts Institute of Technology (MIT) Bitcoin Expo – is going ahead as planned, with some health-minded considerations. The MIT Bitcoin Club, the expo's organizers, said late Thursday that university officials had issued a statement which indicated that on-campus events – with very few exceptions – would be canceled given the coronavirus risk. On Friday morning, the Club said that MIT officials approved the event. "Each room will be capped @ 150 people. There will be hand sanitizer and soap available - keep hands clean. Please refrain from shaking hands - don't be offended," they wrote on their Twitter account. Earlier this week, the organizers of the Paris Blockchain Week Summit rescheduled their event until December, citing health concerns and new regulations issued by the French government. \|\| Bitcoin’s Price Steady Over $9,000 As Sentiment Stays Positive: As global equity markets continue to get pummeled, bitcoin’s return to the $9,000 level may have been driven by some of the same forces causing a rally in bonds – a desire for respite from acoronavirus-plagued markets. After sharp gains in price Thursday,bitcoin(BTC) has been trading steadily in a range between $9,000 and $9,200. For the past 24 hours, bitcoin’s price change has been minimal, down half a percent as of 18:00 UTC (1 p.m. ET). Traders see bitcoin’s jump back into the $9,000 range as another sign bitcoin is trending upward in 2020 while traditional markets stumble. Year to date, bitcoin is up over 26 percent while the S&P 500 stock index is down 9 percent. Cryptocurrency sentiment appears bullish as prices remain above significant moving averages. Related:Market Liquidations Cause Cascade in Bitcoin Price Although traders seem to be open to viewing the cryptocurrency markets as a safe haven from stock market turmoil, more volatility is possible ahead of May’shalving, an event that will slash in half the reward bitcoin miners obtain. “It’s a relief rally. In my opinion, we have a likelihood of sweeping another low before the post-halvening rally,” said Mostafa Al-Mashita of Canadian crypto brokerage firm Secure Digital Markets. The S&P 500 closed down 3 percent Thursday as coronavirus fears reversed the small post-Super Tuesday rally. Equities traders cheered the results of the U.S.Democratic primary electionfavoring former Vice President Joe Biden over senators Bernie Sanders and Elizabeth Warren, candidates seen as openly hostile to capital markets. Also, bitcoin prices moved higher onoptimistic banking news from Indiaand positiveregulatory clarity from South Korea. “I believe gold and BTC are safe havens,” said Henrik Kugelberg, a Sweden-based crypto OTC trader. “As coronavirus has just started to spread, I believe a strong market will last well until the halving will have effect. To me it seems plausible that we can hit an all-time high this year, perhaps within six months.” Related:Bitcoin, Bonds and Gold: Why Markets Are Upended in a Time of Fear Gains in the cryptocurrency sector Friday includeLisk(LSK) in the green 4 percent,ether(ETH) up 2 percent, andbitcoin cash(BCH) appreciating 1 percent. Losses in crypto includebitcoin SV(BSV),bitcoin gold(BTG) andethereum classic(ETC) all down 3 percent • Bitcoin’s Sharp Price Drop May Have Been Prompted by $120M Scam Sell-off • Asset Ratings Giant Morningstar Takes First Plunge Into Blockchain Securities \|\| Bitcoins Price Steady Over $9,000 As Sentiment Stays Positive: As global equity markets continue to get pummeled, bitcoins return to the $9,000 level may have been driven by some of the same forces causing a rally in bonds a desire for respite from a coronavirus-plagued markets . After sharp gains in price Thursday, bitcoin (BTC) has been trading steadily in a range between $9,000 and $9,200. For the past 24 hours, bitcoins price change has been minimal, down half a percent as of 18:00 UTC (1 p.m. ET). Traders see bitcoins jump back into the $9,000 range as another sign bitcoin is trending upward in 2020 while traditional markets stumble. Year to date, bitcoin is up over 26 percent while the S&P 500 stock index is down 9 percent. Cryptocurrency sentiment appears bullish as prices remain above significant moving averages. Related: Market Liquidations Cause Cascade in Bitcoin Price Although traders seem to be open to viewing the cryptocurrency markets as a safe haven from stock market turmoil, more volatility is possible ahead of Mays halving , an event that will slash in half the reward bitcoin miners obtain. Its a relief rally. In my opinion, we have a likelihood of sweeping another low before the post-halvening rally, said Mostafa Al-Mashita of Canadian crypto brokerage firm Secure Digital Markets. The S&P 500 closed down 3 percent Thursday as coronavirus fears reversed the small post-Super Tuesday rally. Equities traders cheered the results of the U.S. Democratic primary election favoring former Vice President Joe Biden over senators Bernie Sanders and Elizabeth Warren, candidates seen as openly hostile to capital markets. Also, bitcoin prices moved higher on optimistic banking news from India and positive regulatory clarity from South Korea . I believe gold and BTC are safe havens, said Henrik Kugelberg, a Sweden-based crypto OTC trader. As coronavirus has just started to spread, I believe a strong market will last well until the halving will have effect. To me it seems plausible that we can hit an all-time high this year, perhaps within six months. Story continues Related: Bitcoin, Bonds and Gold: Why Markets Are Upended in a Time of Fear Gains in the cryptocurrency sector Friday include Lisk (LSK) in the green 4 percent, ether (ETH) up 2 percent, and bitcoin cash (BCH) appreciating 1 percent. Losses in crypto include bitcoin SV (BSV), bitcoin gold (BTG) and ethereum classic (ETC) all down 3 percent Related Stories Bitcoins Sharp Price Drop May Have Been Prompted by $120M Scam Sell-off Asset Ratings Giant Morningstar Takes First Plunge Into Blockchain Securities \|\| Bitcoin’s Price Steady Over $9,000 As Sentiment Stays Positive: As global equity markets continue to get pummeled, bitcoin’s return to the $9,000 level may have been driven by some of the same forces causing a rally in bonds – a desire for respite from acoronavirus-plagued markets. After sharp gains in price Thursday,bitcoin(BTC) has been trading steadily in a range between $9,000 and $9,200. For the past 24 hours, bitcoin’s price change has been minimal, down half a percent as of 18:00 UTC (1 p.m. ET). Traders see bitcoin’s jump back into the $9,000 range as another sign bitcoin is trending upward in 2020 while traditional markets stumble. Year to date, bitcoin is up over 26 percent while the S&P 500 stock index is down 9 percent. Cryptocurrency sentiment appears bullish as prices remain above significant moving averages. Related:Market Liquidations Cause Cascade in Bitcoin Price Although traders seem to be open to viewing the cryptocurrency markets as a safe haven from stock market turmoil, more volatility is possible ahead of May’shalving, an event that will slash in half the reward bitcoin miners obtain. “It’s a relief rally. In my opinion, we have a likelihood of sweeping another low before the post-halvening rally,” said Mostafa Al-Mashita of Canadian crypto brokerage firm Secure Digital Markets. The S&P 500 closed down 3 percent Thursday as coronavirus fears reversed the small post-Super Tuesday rally. Equities traders cheered the results of the U.S.Democratic primary electionfavoring former Vice President Joe Biden over senators Bernie Sanders and Elizabeth Warren, candidates seen as openly hostile to capital markets. Also, bitcoin prices moved higher onoptimistic banking news from Indiaand positiveregulatory clarity from South Korea. “I believe gold and BTC are safe havens,” said Henrik Kugelberg, a Sweden-based crypto OTC trader. “As coronavirus has just started to spread, I believe a strong market will last well until the halving will have effect. To me it seems plausible that we can hit an all-time high this year, perhaps within six months.” Related:Bitcoin, Bonds and Gold: Why Markets Are Upended in a Time of Fear Gains in the cryptocurrency sector Friday includeLisk(LSK) in the green 4 percent,ether(ETH) up 2 percent, andbitcoin cash(BCH) appreciating 1 percent. Losses in crypto includebitcoin SV(BSV),bitcoin gold(BTG) andethereum classic(ETC) all down 3 percent • Bitcoin’s Sharp Price Drop May Have Been Prompted by $120M Scam Sell-off • Asset Ratings Giant Morningstar Takes First Plunge Into Blockchain Securities \|\| Ethereum’s ProgPoW Call Features Frustration but Little Progress: ProgPoW is still just a proposal. Thecontroversialproposed change to Ethereum’s mining algorithm failed to change status after meeting resistance during Friday’score developers call. Ethereum hard fork coordinator James Hancock said ProgPoW will not be included on the hard fork schedule going forward. During the call, opponents of the long-discussed Ethereum Improvement Proposal (EIP) voiced their frustrations. Related:Asset Ratings Giant Morningstar Takes First Plunge Into Blockchain Securities “ProgPoW people are a bunch of profit-seeking miners lobbying the core dev political committee to get what they want – full stop,” said SpankChain CEO and MolochDAO co-founder Ameen Soleimani. “A hard fork is not just a technical process,” said Martin Koppelmann, founder of open finance startup Gnosis. “A hard fork means creating a narrative around it – convincing 20,000 people at the same time that this is the best thing to do right now.” Matt Luongo, founder of crypto venture studio Thesis, joined Soleimani and Koppelmann in voicing his concerns. Luongo compared current ProgPoW tensions to 2017’sbitcoin(BTC) civil wars, which led to the creation ofbitcoin cash(BCH). Tweaking the Ethereum hash algorithm isn’t quite worth a chain split, he said. AsCoinDesk previously reported, ProgPoW’s code was released in 2018 as a replacement to the current Ethash mining algorithm. The code was proposed as a remedy to an emerging trend of mining-power centralization around ASIC-wielding firms. Related:Bitcoin’s Price Steady Over $9,000 As Sentiment Stays Positive Some Ethereum community members viewed this trend as dangerous to the community and an unfair advantage against less capital-endowed miners (who typically use GPU-based rigs). The concern can also be found in other cryptocurrency circles, notably withmonero(XMR), which has built-in code changes every few months to disincentivize ASIC mining. ProgPoW was nearly merged into Ethereum inJanuary 2019, but failed at the eleventh hour due to third-party audits exposing key vulnerabilities. Earlier last month, ProgPoW popped back into the conversation as a hard fork candidate. As of Friday, the EIP has been left on “final” status but has yet to receive core developer support to be executed as a major code change. The common anti-ProgPoW argument centers on the transition to Eth 2.0 and its new Proof-of-Stake (PoS) consensus algorithm. Under PoS, miningether(ETH) will become a thing of the past. ProgPoW antagonists think addressing the current Proof-of-Work chain when the community is nearing its major switch to PoS is superfluous, if not dangerous. “We should focus on PoS and communicating the transition to PoS where mining rewards are decreased over time,” said Koppelmann. “That alone would prevent people from doing large investments in six- or eight-gigabyte ASICs.” Pro-ProgPoW members – represented on Friday’s call by Kristy-Leigh Minehan, an algorithm developer who helped create ProgPoW, and cryptocurrency educator Michael Carter – say the Ethereum network is liable to be captured by ASIC miners. Minehan said GPU mining is a common way for people to enter the Ethereum community. Hobbyists will be walled off from the Ethereum garden if an algorithm change isn’t made, she said. Minehan also pointed out a forthcoming study from CoinMetrics on so-callednoncepatterns in ethereum mining. In crypto mining, machines look for a nonce, or a specific golden number, to create a block and receive a coin reward. In some situations, you can tell what portion of a network is running a certain model of mining rig depending on the nonce patterns guessed by the machines. Minehan said the study from CoinMetrics suggests that 40 percent of the Ethereum network is running on Bitmain’s Antminer E3 miner, an ASIC. Unfortunately, the E3 will become obsolete in the next few months, said Minehan and Carter, alluding toa recent report from mining pool 2Miners. Minehan and Carter say they fear a more powerful ASIC miner will replace the E3, creating a tech cycle that iPhone users are quite familiar with: planned obsolescence. Cornering the network into changing products every time Bitmain produces a new mining rig undercuts the network’s security, they said. This fear becomes even more pressing given the size of the Ethereum network, said Starkware product manager Louis Guthmann. Creating a GPU-friendly Ethereum is good for the network’s robustness, he said. A compromise between the two camps was also given screen time on the call. Authored by Ben DiFrancesco, founder of software advisor ScopeLift, this middle path would make ProgPoW a testnet for the time being. After further audits, the code would be issued as an emergency backup in case of an “ASIC attack” on the current Ethash algorithm. What an ASIC attack is remains unknown, Ethereum developer Tim Beiko pointed out. As of now, nothing has been decided. Core developers on the call said they feel the community is fairly anti-ProgPoW. Without this support, a change cannot be implemented even if perceived as a net benefit to the network. As the call closed, DiFrancesco pointed out that both parties have begun talking past each other, though there does seem to be agreement on one thing: nobody wants a contentious chain split. • Ethereum’s ProgPoW Debate Is About Much More Than Mining • The Team Behind CryptoKitties Is One Step Closer to Leaving Ethereum \|\| Ethereums ProgPoW Call Features Frustration but Little Progress: ProgPoW is still just a proposal. The controversial proposed change to Ethereums mining algorithm failed to change status after meeting resistance during Fridays core developers call . Ethereum hard fork coordinator James Hancock said ProgPoW will not be included on the hard fork schedule going forward. During the call, opponents of the long-discussed Ethereum Improvement Proposal (EIP) voiced their frustrations. Related: Asset Ratings Giant Morningstar Takes First Plunge Into Blockchain Securities ProgPoW people are a bunch of profit-seeking miners lobbying the core dev political committee to get what they want full stop, said SpankChain CEO and MolochDAO co-founder Ameen Soleimani. A hard fork is not just a technical process, said Martin Koppelmann, founder of open finance startup Gnosis. A hard fork means creating a narrative around it convincing 20,000 people at the same time that this is the best thing to do right now. Matt Luongo, founder of crypto venture studio Thesis, joined Soleimani and Koppelmann in voicing his concerns. Luongo compared current ProgPoW tensions to 2017s bitcoin (BTC) civil wars, which led to the creation of bitcoin cash (BCH). Tweaking the Ethereum hash algorithm isnt quite worth a chain split, he said. The latest As CoinDesk previously reported , ProgPoWs code was released in 2018 as a replacement to the current Ethash mining algorithm. The code was proposed as a remedy to an emerging trend of mining-power centralization around ASIC-wielding firms. Related: Bitcoins Price Steady Over $9,000 As Sentiment Stays Positive Some Ethereum community members viewed this trend as dangerous to the community and an unfair advantage against less capital-endowed miners (who typically use GPU-based rigs). The concern can also be found in other cryptocurrency circles, notably with monero (XMR), which has built-in code changes every few months to disincentivize ASIC mining. ProgPoW was nearly merged into Ethereum in January 2019 , but failed at the eleventh hour due to third-party audits exposing key vulnerabilities. Earlier last month, ProgPoW popped back into the conversation as a hard fork candidate. Story continues As of Friday, the EIP has been left on final status but has yet to receive core developer support to be executed as a major code change. For and against The common anti-ProgPoW argument centers on the transition to Eth 2.0 and its new Proof-of-Stake (PoS) consensus algorithm. Under PoS, mining ether (ETH) will become a thing of the past. ProgPoW antagonists think addressing the current Proof-of-Work chain when the community is nearing its major switch to PoS is superfluous, if not dangerous. We should focus on PoS and communicating the transition to PoS where mining rewards are decreased over time, said Koppelmann. That alone would prevent people from doing large investments in six- or eight-gigabyte ASICs. Pro-ProgPoW members represented on Fridays call by Kristy-Leigh Minehan, an algorithm developer who helped create ProgPoW, and cryptocurrency educator Michael Carter say the Ethereum network is liable to be captured by ASIC miners. Minehan said GPU mining is a common way for people to enter the Ethereum community. Hobbyists will be walled off from the Ethereum garden if an algorithm change isnt made, she said. Minehan also pointed out a forthcoming study from CoinMetrics on so-called nonce patterns in ethereum mining. In crypto mining, machines look for a nonce, or a specific golden number, to create a block and receive a coin reward. In some situations, you can tell what portion of a network is running a certain model of mining rig depending on the nonce patterns guessed by the machines. Minehan said the study from CoinMetrics suggests that 40 percent of the Ethereum network is running on Bitmains Antminer E3 miner, an ASIC. Unfortunately, the E3 will become obsolete in the next few months, said Minehan and Carter, alluding to a recent report from mining pool 2Miners . Minehan and Carter say they fear a more powerful ASIC miner will replace the E3, creating a tech cycle that iPhone users are quite familiar with: planned obsolescence. Cornering the network into changing products every time Bitmain produces a new mining rig undercuts the networks security, they said. This fear becomes even more pressing given the size of the Ethereum network, said Starkware product manager Louis Guthmann. Creating a GPU-friendly Ethereum is good for the networks robustness, he said. A compromise between the two camps was also given screen time on the call. Authored by Ben DiFrancesco, founder of software advisor ScopeLift, this middle path would make ProgPoW a testnet for the time being. After further audits, the code would be issued as an emergency backup in case of an ASIC attack on the current Ethash algorithm. What an ASIC attack is remains unknown, Ethereum developer Tim Beiko pointed out. Tl;dr As of now, nothing has been decided. Core developers on the call said they feel the community is fairly anti-ProgPoW. Without this support, a change cannot be implemented even if perceived as a net benefit to the network. As the call closed, DiFrancesco pointed out that both parties have begun talking past each other, though there does seem to be agreement on one thing: nobody wants a contentious chain split. Related Stories Ethereums ProgPoW Debate Is About Much More Than Mining The Team Behind CryptoKitties Is One Step Closer to Leaving Ethereum \|\| FluffyPony on Encryption, Clearview and How Coronavirus Could Impact Privacy: The former lead maintainer of Monero and co-founder of Tari speaks about the state of global privacy For more episodes and free early access before our regular 3 p.m. Eastern time releases, subscribe with Apple Podcasts , Spotify , Pocketcasts , Google Podcasts , Castbox , Stitcher , RadioPublica , IHeartRadio or RSS . As the coronavirus took hold in China, officials in Hubei province tracked potential patients by examining purchase records for cough and flu medicine for the previous month. Related: Leader to Watch: Elena Giralt Talks Zcash and Feminism Welcome to the new frontiers of privacy. In this wide-ranging episode, @NLW chats with former lead maintainer of Monero and Tari co-founder Riccardo Spagni – aka @FluffyPony on Twitter – about privacy in the context of: The recent arrest of DropBit CEO Larry Harmon involving bitcoin mixer technology allegedly being used for illicit purposes The US government’s battle against end-to-end encryption Central bank digital currencies At-home devices such as Alexa and Google Home Clearview AI and facial recognition China’s response to coronavirus Why individual apathy is the greatest threat to privacy in the world Related Stories Gender and Income: Binance US and Stellar CEOs Debunk Myths for International Women’s Day Bitcoin News Roundup for March 6, 2020 Clearview AI Lawyer Tor Ekeland Says Your Face Is Public Property \|\| FluffyPony on Encryption, Clearview and How Coronavirus Could Impact Privacy: The former lead maintainer of Monero and co-founder of Tari speaks about the state of global privacy For more episodes and free early access before our regular 3 p.m. Eastern time releases, subscribe withApple Podcasts,Spotify,Pocketcasts,Google Podcasts,Castbox,Stitcher,RadioPublica,IHeartRadioorRSS. As the coronavirustook holdin China, officials in Hubei province tracked potential patients by examining purchase records for cough and flu medicine for the previous month. Related:Leader to Watch: Elena Giralt Talks Zcash and Feminism Welcome to the new frontiers of privacy. In this wide-ranging episode, @NLW chats with former lead maintainer of Monero and Tari co-founder Riccardo Spagni – aka @FluffyPony on Twitter – about privacy in the context of: • The recent arrest of DropBit CEO Larry Harmon involving bitcoin mixer technology allegedly being used for illicit purposes • The US government’s battle against end-to-end encryption • Central bank digital currencies • At-home devices such as Alexa and Google Home • Clearview AI and facial recognition • China’s response to coronavirus • Why individual apathy is the greatest threat to privacy in the world • Gender and Income: Binance US and Stellar CEOs Debunk Myths for International Women’s Day • Bitcoin News Roundup for March 6, 2020 • Clearview AI Lawyer Tor Ekeland Says Your Face Is Public Property \|\| Japan Doesn’t Need a Digital Yen, Asserts BOJ Official: Advanced economies such as Japan’s don’t need a digital currency, the deputy governor at the Bank of Japan (BoJ) asserted during a recent meeting. Speaking at the Bank for International Settlement’s recent Future of Payments Forum, Deputy Governor Masayoshi Amamiya argued a Japanese central bank digital currency (CBDC) currently has little merit. CBDCs could greatly benefit developing countries, such as Cambodia , that have “immature” payment infrastructures, he said in a speech publicized Friday. But for advanced economies, the costs outweigh the benefits. Related: Algorand Blockchain Chosen as Underlying Tech for Marshall Islands’ Digital Currency “At this point, there is no need to implement new steps to ensure people’s access to central bank money,” according to a transcript of his speech. “Moreover, the currency systems and the payment and settlement systems of these economies are operating safely and stably. They cannot simply jump into new technologies, or actually, they should not.” Assuming CBDCs would operate at lower running costs compared to private initiatives, Amamiya continued, merchants would likely prefer CBDCs over private payment systems, both legacy and cryptocurrencies, but he said this would “suppress private business and discourage innovations.” If Japan introduced a digital yen, the central bank could also become the sole repository for the entire country’s transaction information, raising concerns about how the BoJ would store and protect personal financial data, Amamiya added. Threat from China Amamiya’s comments come after rising speculation that Japan was preparing to issue a digital yen. In February, senior politicians in the country’s ruling Liberal Democratic Party filed a formal proposal for the government to issue its own digital currency in the face of a rising monetary threat from the planned digital yuan from China. Related: With Central Bank Digital Currencies, States Are Reasserting Power Over Money Story continues Amamiya previously ruled out a digital yen in 2018 when he argued it could undermine the country’s two-tier financial system without providing additional benefits. In 2019, he said a move to a CBDC would only be viable if the whole country was prepared to abandon cash. In his most recent comments, Amamiya argued there were benefits for countries already experiencing a significant decline in the use of cash to move over to a CBDC model. Sweden’s e-krona initiative , he said, was one example where people who have struggled to adapt to cashless payments could be provided with ready access to central bank money. While he doesn’t favor a Japanese CBDC presently, Amamiya has advocated for more research into digital currencies. The BoJ was also one of six central banks to form a working group to share findings surrounding CBDCs earlier this year. Related Stories Bitcoin Rebounds as Coronavirus-Infected Stocks Get Jolt From Fed, BOJ BIS Paper Reckons With P2P Payments, Tokenized Securities, Central Bank Digital Currencies \|\| Japan Doesn’t Need a Digital Yen, Asserts BOJ Official: Advanced economies such as Japan’s don’t need a digital currency, the deputy governor at the Bank of Japan (BoJ) asserted during a recent meeting. Speaking at the Bank for International Settlement’s recent Future of Payments Forum, Deputy Governor Masayoshi Amamiyaargueda Japanese central bank digital currency (CBDC) currently has little merit. CBDCs could greatly benefit developing countries, such asCambodia, that have “immature” payment infrastructures, he said in a speech publicized Friday. But for advanced economies, the costs outweigh the benefits. Related:Algorand Blockchain Chosen as Underlying Tech for Marshall Islands’ Digital Currency “At this point, there is no need to implement new steps to ensure people’s access to central bank money,” according to a transcript of his speech. “Moreover, the currency systems and the payment and settlement systems of these economies are operating safely and stably. They cannot simply jump into new technologies, or actually, they should not.” Assuming CBDCs would operate at lower running costs compared to private initiatives, Amamiya continued, merchants would likely prefer CBDCs over private payment systems, both legacy and cryptocurrencies, but he said this would “suppress private business and discourage innovations.” If Japan introduced a digital yen, the central bank could also become the sole repository for the entire country’s transaction information, raising concerns about how the BoJ would store and protect personal financial data, Amamiya added. Amamiya’s comments come after rising speculation that Japan was preparing to issue a digital yen. In February, senior politicians in the country’s ruling Liberal Democratic Partyfileda formal proposal for the government to issue its own digital currency in the face of a rising monetary threat from the planneddigital yuanfrom China. Related:With Central Bank Digital Currencies, States Are Reasserting Power Over Money Amamiya previouslyruled outa digital yen in 2018 when he argued it could undermine the country’s two-tier financial system without providing additional benefits. In 2019, hesaida move to a CBDC would only be viable if the whole country was prepared to abandon cash. In his most recent comments, Amamiya argued there were benefits for countries already experiencing a significant decline in the use of cash to move over to a CBDC model. Sweden’se-krona initiative, he said, was one example where people who have struggled to adapt to cashless payments could be provided with ready access to central bank money. While he doesn’t favor a Japanese CBDC presently, Amamiya hasadvocatedfor more research into digital currencies. The BoJ was also one of six central banks toforma working group to share findings surrounding CBDCs earlier this year. • Bitcoin Rebounds as Coronavirus-Infected Stocks Get Jolt From Fed, BOJ • BIS Paper Reckons With P2P Payments, Tokenized Securities, Central Bank Digital Currencies \|\| Overstock’s VC Wing Leads $8.2M Funding Round in GrainChain: GrainChain, a commodities tracing platform that uses smart contracts to open up liquidity for low-income farmers, has raised $8.2 million in its latest funding round, the company announced Friday. Chief Executive and founder Luis Macias said the money will bolster GrainChain’s burgeoning operations in Mexico, Honduras and the southwest United States. “This funding is really going to allow us to add to our operations and scale up the levels that we are anticipating, giving us the ability to implement across the entire supply chain,” he said. Related: Vermont Turns to Home-Grown Blockchain Company to Track Hemp With Ethereum Overstock VC wing Medici Ventures contributed the bulk at $5 million. An early backer of GrainChain with a $2.5 million equity stake in late 2018, Medici had previously agreed to consider purchasing future equity. It now controls 17.65 percent of GrainChain, according to a Medici spokesperson. Other new backers include Eden Block, according to a press release. GrainChain envisions itself as a sort of glue between disparate actors in the agriculture supply chain. It brings farmers, bankers, insurers, exporters and trade associations on a unified blockchain platform where they can validate the movement of crops and commodities, and even make payments through event-triggered smart contracts. In September, part of that vision took form as GrainChain inked deals with stakeholders from across the Honduran coffee industry. This included low-income farmers picking the beans, many of whom struggle to secure loans from bankers weary of supply chain inefficiencies. Related: Appealing to Normies: Advancing Bitcoin Starts With Better UX Both farmers and bankers expressed hope at the time that GrainChain’s traceability trust factor could change that. Medici CEO Jonathan Johnson said the VC got on board to help support GrainChain’s efforts to “eliminate middlemen and re-humanize commerce.” Macias said the platform has attracted interest from more supply chain stakeholders in the time since. “People are excited about the implementation,” he said. Story continues The new funding will also build out GrainChain’s global presence. Macias said he is currently brokering deals in two more countries that he expects to announce later this year. “We’re pleased to support their continued global expansion.” Medici’s Johnson said of GrainChain. Related Stories Gartner Research: Smart Contract Adoption to Increase Data Quality by 50% Over 3 Years Overstock CEO: Crypto Investments Are Ready for Prime Time \|\| Overstock’s VC Wing Leads $8.2M Funding Round in GrainChain: GrainChain, a commodities tracing platform that uses smart contracts to open up liquidity for low-income farmers, has raised $8.2 million in its latest funding round, the company announced Friday. Chief Executive and founder Luis Macias said the money will bolster GrainChain’s burgeoning operations in Mexico, Honduras and the southwest United States. “This funding is really going to allow us to add to our operations and scale up the levels that we are anticipating, giving us the ability to implement across the entire supply chain,” he said. Related:Vermont Turns to Home-Grown Blockchain Company to Track Hemp With Ethereum Overstock VC wing Medici Ventures contributed the bulk at $5 million. Anearly backerof GrainChain with a $2.5 million equity stake in late 2018, Medici had previously agreed to consider purchasing future equity. It now controls 17.65 percent of GrainChain, according to a Medici spokesperson. Other new backers include Eden Block, according to a press release. GrainChain envisions itself as a sort of glue between disparate actors in the agriculture supply chain. It brings farmers, bankers, insurers, exporters and trade associations on a unified blockchain platform where they can validate the movement of crops and commodities, and even make payments through event-triggered smart contracts. In September, part of that vision took form as GrainChain inkeddeals with stakeholdersfrom across the Honduran coffee industry. This included low-income farmers picking the beans, many of whom struggle to secure loans from bankers weary of supply chain inefficiencies. Related:Appealing to Normies: Advancing Bitcoin Starts With Better UX Both farmers and bankers expressed hope at the time that GrainChain’s traceability trust factor could change that. Medici CEO Jonathan Johnson said the VC got on board to help support GrainChain’s efforts to “eliminate middlemen and re-humanize commerce.” Macias said the platform has attracted interest from more supply chain stakeholders in the time since. “People are excited about the implementation,” he said. The new funding will also build out GrainChain’s global presence. Macias said he is currently brokering deals in two more countries that he expects to announce later this year. “We’re pleased to support their continued global expansion.” Medici’s Johnson said of GrainChain. • Gartner Research: Smart Contract Adoption to Increase Data Quality by 50% Over 3 Years • Overstock CEO: Crypto Investments Are Ready for Prime Time \|\| Stock market opens 3.3% lower as coronavirus fear spikes: The S&P500 has opened today’s trading session 3.3% lower than it was yesterday with a sharp drop being attributed to fears of a global coronavirus outbreak. It closed yesterday’s session at 3,023.94 before opening today at 2954.20, marking yet another miserable start for the US stock market index. The substantial move to the downside was reflected across all global equity markets with the Dow Jones opening with a 2.56% gap while the UK’s FTSE 100 fell by 3.88%. There have now been 163 confirmed cases in the UK, a rise of 48 from yesterday which has ignited fears of a global pandemic. Yesterday, UK Prime Minister Boris Johnson struggled to inspire the public to avoid concern as he urged viewers to “wash their hands” during a TV interview. This type of approach was blasted by World Health Organisation Director General, Tedros Adhanom, who reiterated that “this is not a drill” before accusing countries of taking too lax an approach to the coronavirus outbreak. With hand sanitiser and face mask shortages beginning to take hold in the majority of affected countries, fear and panic naturally increases, having a direct impact on capital markets. If coronavirus cases continue to steadily increase, global supply chains and businesses will begin to suffer as consumer demand continues to reduce. "This is not a drill": #WHO accuses countries of taking too lax an approach to the #coronavirus outbreak. #COVIDー19 https://t.co/psRzCAQDRz pic.twitter.com/UXsiXs6KD7 — euronews (@euronews) March 6, 2020 Optimism will return to the market once the S&P500 breaks above the daily 200 moving average and the level of resistance at 3031.15, although this may only happen if the outbreak begins to slow down on a global scale. Story continues The impact of an economic recession on traditional financial hedges like Bitcoin remain to be seen, it would theoretically rise as investors seek a safe haven from tumbling equity markets, however cryptocurrencies are volatile by nature which could also ignite another gruelling bear market. Gold has intriguingly rallied back to a seven-year high over the past week which reinforces the notion that Bitcoin could also perform well given a global market collapse. For more news, guides and price analysis, click here . \|\| Stock market opens 3.3% lower as coronavirus fear spikes: The S&P500 has opened today’s trading session 3.3% lower than it was yesterday with a sharp drop being attributed to fears of a global coronavirus outbreak. It closed yesterday’s session at 3,023.94 before opening today at 2954.20, marking yet another miserable start for the US stock market index. The substantial move to the downside was reflected across all global equity markets with the Dow Jones opening with a 2.56% gap while the UK’s FTSE 100 fell by 3.88%. There have now been 163 confirmed cases in the UK, a rise of 48 from yesterday which has ignited fears of a global pandemic. Yesterday, UK Prime Minister Boris Johnson struggled to inspire the public to avoid concern as he urged viewers to “wash their hands” during a TV interview. This type of approach was blasted by World Health Organisation Director General, Tedros Adhanom, who reiterated that “this is not a drill” before accusing countries of taking too lax an approach to the coronavirus outbreak. With hand sanitiser and face mask shortages beginning to take hold in the majority of affected countries, fear and panic naturally increases, having a direct impact on capital markets. If coronavirus cases continue to steadily increase, global supply chains and businesses will begin to suffer as consumer demand continues to reduce. "This is not a drill": #WHO accuses countries of taking too lax an approach to the #coronavirus outbreak. #COVIDー19 https://t.co/psRzCAQDRz pic.twitter.com/UXsiXs6KD7 — euronews (@euronews) March 6, 2020 Optimism will return to the market once the S&P500 breaks above the daily 200 moving average and the level of resistance at 3031.15, although this may only happen if the outbreak begins to slow down on a global scale. Story continues The impact of an economic recession on traditional financial hedges like Bitcoin remain to be seen, it would theoretically rise as investors seek a safe haven from tumbling equity markets, however cryptocurrencies are volatile by nature which could also ignite another gruelling bear market. Gold has intriguingly rallied back to a seven-year high over the past week which reinforces the notion that Bitcoin could also perform well given a global market collapse. For more news, guides and price analysis, click here . \|\| Bitcoin is 'digital gold,' says Finder.com co-founder: Cryptocurrency isn’t going anywhere — in fact it’s set to take a leap forward in coming years, says tech entrepreneur and Finder.com Co-founder Fred Schebesta. “I'm a big believer in Bitcoin,” he says. “I think it's like digital gold. I think it will last on and on and on.” In a newly released interview, taped on March 2, Schebesta rejects pessimists who say cryptocurrency is a passing fad, noting that the price of Bitcoin (BTC-USD) has remained stable of late. “Bitcoin's been called dead for 10 years now,” he says. “Seems to still be going. You know, I think the price is holding up pretty well throughout this as well.” As of Thursday afternoon, the price of Bitcoin stood at $9,115, marking a 20.7% increase over the past three months, while the S&P 500 has fallen 3.5% over that period. Bitcoin surged at the outset of this yeardespite coronavirus fears. “These geopolitical events including coronavirus and geopolitical tensions really improve the use case,” Tom Lee, Fundstrat Global Advisors managing partner,told Yahoo Finance’s YFi PMlast month. Critics of cryptocurrency, like Berkshire Hathaway (BRK-A,BRK-B) CEO Warren Buffett,say it doesn’t hold any valueas a tool of exchange or source of production. Cryptocurrency will “come to a bad ending,” Buffetttold CNBCin 2018. Along those lines, Yahoo Finance Editor-in-Chief Andy Serwer asked Schebesta: “I know that's a big interest of yours, but isn't crypto over, man?” “Crypto is in the beginning,” says Schebesta, 38, who — in additional to his role at Finder.com — is the CEO of a blockchain company called HiveEx. “I actually think it needs another five years to cook.” HiveEx, which Schebesta co-founded in 2018, helps high net-worth traders buy or sell large amounts of cryptocurrency, according to its website. Stock transfers, for instance, offer a significant business opportunity for blockchain, he said. “Settlement of stocks right now is a small to large disaster in terms of its paper and all those kind of things,” he says. “So it's where blockchain does so well.” Schebesta made the remarks during a conversation that aired in an episode of Yahoo Finance’s “Influencers with Andy Serwer,” a weekly interview series with leaders in business, politics, and entertainment. In 2006, at age 26, Schebesta founded Finder.com, a comparison shopping website that now operates in 83 countries and employs 310 people full-time, Schebesta says. Last October, theAustralian Financial Review rankedSchebesta — who lives in Sydney — as the 22nd richest Australian under 40 years old, with a net worth of $193 million. Schebesta compared the current state of cryptocurrency to the early days of the internet. “It wasn't until Hotmail with email was the internet at all interesting to most people,” he says. “Or, you know, when really, data became fast enough on your phone.” “It just takes time for those technologies,” he adds. “That’s the same with blockchain technologies...it’s just going to take some time to cook.” Still, one cryptocurrency venture faced a setback this week. On Tuesday,The Information reportedthat Facebook (FB) would scale back plans for its cryptocurrency Libra, after the venture drew scrutiny from lawmakers and the public. Read more: • Donald Trump's top business allies quiet on impeachment • Exclusive: 'Ready to stomp on it': Documents reveal staggering power of tech giant lobbying • Amazon's HQ2 was a showdown between a union city and a tech giant • Read the latest financial and business news from Yahoo Finance \|\| Bitcoin is 'digital gold,' says Finder.com co-founder: Cryptocurrency isn’t going anywhere — in fact it’s set to take a leap forward in coming years, says tech entrepreneur and Finder.com Co-founder Fred Schebesta. “I'm a big believer in Bitcoin,” he says. “I think it's like digital gold. I think it will last on and on and on.” In a newly released interview, taped on March 2, Schebesta rejects pessimists who say cryptocurrency is a passing fad, noting that the price of Bitcoin (BTC-USD) has remained stable of late. “Bitcoin's been called dead for 10 years now,” he says. “Seems to still be going. You know, I think the price is holding up pretty well throughout this as well.” As of Thursday afternoon, the price of Bitcoin stood at $9,115, marking a 20.7% increase over the past three months, while the S&P 500 has fallen 3.5% over that period. Bitcoin surged at the outset of this yeardespite coronavirus fears. “These geopolitical events including coronavirus and geopolitical tensions really improve the use case,” Tom Lee, Fundstrat Global Advisors managing partner,told Yahoo Finance’s YFi PMlast month. Critics of cryptocurrency, like Berkshire Hathaway (BRK-A,BRK-B) CEO Warren Buffett,say it doesn’t hold any valueas a tool of exchange or source of production. Cryptocurrency will “come to a bad ending,” Buffetttold CNBCin 2018. Along those lines, Yahoo Finance Editor-in-Chief Andy Serwer asked Schebesta: “I know that's a big interest of yours, but isn't crypto over, man?” “Crypto is in the beginning,” says Schebesta, 38, who — in additional to his role at Finder.com — is the CEO of a blockchain company called HiveEx. “I actually think it needs another five years to cook.” HiveEx, which Schebesta co-founded in 2018, helps high net-worth traders buy or sell large amounts of cryptocurrency, according to its website. Stock transfers, for instance, offer a significant business opportunity for blockchain, he said. “Settlement of stocks right now is a small to large disaster in terms of its paper and all those kind of things,” he says. “So it's where blockchain does so well.” Schebesta made the remarks during a conversation that aired in an episode of Yahoo Finance’s “Influencers with Andy Serwer,” a weekly interview series with leaders in business, politics, and entertainment. In 2006, at age 26, Schebesta founded Finder.com, a comparison shopping website that now operates in 83 countries and employs 310 people full-time, Schebesta says. Last October, theAustralian Financial Review rankedSchebesta — who lives in Sydney — as the 22nd richest Australian under 40 years old, with a net worth of $193 million. Schebesta compared the current state of cryptocurrency to the early days of the internet. “It wasn't until Hotmail with email was the internet at all interesting to most people,” he says. “Or, you know, when really, data became fast enough on your phone.” “It just takes time for those technologies,” he adds. “That’s the same with blockchain technologies...it’s just going to take some time to cook.” Still, one cryptocurrency venture faced a setback this week. On Tuesday,The Information reportedthat Facebook (FB) would scale back plans for its cryptocurrency Libra, after the venture drew scrutiny from lawmakers and the public. Read more: • Donald Trump's top business allies quiet on impeachment • Exclusive: 'Ready to stomp on it': Documents reveal staggering power of tech giant lobbying • Amazon's HQ2 was a showdown between a union city and a tech giant • Read the latest financial and business news from Yahoo Finance \|\| Bitcoin is 'digital gold,' says Finder.com co-founder: Cryptocurrency isn’t going anywhere — in fact it’s set to take a leap forward in coming years, says tech entrepreneur and Finder.com Co-founder Fred Schebesta. “I'm a big believer in Bitcoin,” he says. “I think it's like digital gold. I think it will last on and on and on.” In a newly released interview, taped on March 2, Schebesta rejects pessimists who say cryptocurrency is a passing fad, noting that the price of Bitcoin ( BTC-USD ) has remained stable of late. “Bitcoin's been called dead for 10 years now,” he says. “Seems to still be going. You know, I think the price is holding up pretty well throughout this as well.” As of Thursday afternoon, the price of Bitcoin stood at $9,115, marking a 20.7% increase over the past three months, while the S&P 500 has fallen 3.5% over that period. Bitcoin surged at the outset of this year despite coronavirus fears . “These geopolitical events including coronavirus and geopolitical tensions really improve the use case,” Tom Lee, Fundstrat Global Advisors managing partner, told Yahoo Finance’s YFi PM last month. Critics of cryptocurrency, like Berkshire Hathaway ( BRK-A , BRK-B ) CEO Warren Buffett, say it doesn’t hold any value as a tool of exchange or source of production. Cryptocurrency will “come to a bad ending,” Buffett told CNBC in 2018. Along those lines, Yahoo Finance Editor-in-Chief Andy Serwer asked Schebesta: “I know that's a big interest of yours, but isn't crypto over, man?” “Crypto is in the beginning,” says Schebesta, 38, who — in additional to his role at Finder.com — is the CEO of a blockchain company called HiveEx. “I actually think it needs another five years to cook.” HiveEx , which Schebesta co-founded in 2018, helps high net-worth traders buy or sell large amounts of cryptocurrency, according to its website. Stock transfers, for instance, offer a significant business opportunity for blockchain, he said. “Settlement of stocks right now is a small to large disaster in terms of its paper and all those kind of things,” he says. “So it's where blockchain does so well.” Story continues Schebesta made the remarks during a conversation that aired in an episode of Yahoo Finance’s “ Influencers with Andy Serwer ,” a weekly interview series with leaders in business, politics, and entertainment. In 2006, at age 26, Schebesta founded Finder.com, a comparison shopping website that now operates in 83 countries and employs 310 people full-time, Schebesta says. Last October, the Australian Financial Review ranked Schebesta — who lives in Sydney — as the 22nd richest Australian under 40 years old, with a net worth of $193 million. Fred Schebesta, the co-founder of Finder.com, appears on Influencers with Andy Serwer. Schebesta compared the current state of cryptocurrency to the early days of the internet. “It wasn't until Hotmail with email was the internet at all interesting to most people,” he says. “Or, you know, when really, data became fast enough on your phone.” “It just takes time for those technologies,” he adds. “That’s the same with blockchain technologies...it’s just going to take some time to cook.” Still, one cryptocurrency venture faced a setback this week. On Tuesday, The Information reported that Facebook ( FB ) would scale back plans for its cryptocurrency Libra, after the venture drew scrutiny from lawmakers and the public. Read more: Donald Trump's top business allies quiet on impeachment Exclusive: 'Ready to stomp on it': Documents reveal staggering power of tech giant lobbying Amazon's HQ2 was a showdown between a union city and a tech giant Read the latest financial and business news from Yahoo Finance [Social Media Buzz] None available.	8108.12, 7923.64, 7909.73, 7911.43, 4970.79, 5563.71, 5200.37, 5392.31, 5014.48, 5225.63
Given the historical Bitcoin prices from the last 90 days, predict the next 10 daily closing prices. The historical prices are: 222.27, 227.75, 223.41, 220.11, 219.84, 219.18, 221.76, 235.43, 257.32, 234.82, 233.84, 243.61, 236.33, 240.28, 243.78, 244.53, 235.98, 238.89, 238.74, 237.47, 236.43, 253.83, 254.26, 260.20, 275.67, 281.70, 273.09, 276.18, 272.72, 276.26, 274.35, 289.61, 291.76, 296.38, 294.35, 285.34, 281.89, 286.39, 290.59, 285.51, 256.30, 260.93, 261.75, 260.02, 267.96, 266.74, 245.60, 246.20, 248.53, 247.03, 252.80, 242.71, 247.53, 244.22, 247.27, 253.01, 254.32, 253.70, 260.60, 255.49, 253.18, 245.02, 243.68, 236.07, 236.55, 236.15, 224.59, 219.16, 223.83, 228.57, 222.88, 223.36, 222.60, 224.63, 235.27, 234.18, 236.46, 231.27, 226.39, 219.43, 229.29, 225.85, 225.81, 236.15, 232.08, 234.93, 240.36, 239.02, 236.12, 229.78.	[Bitcoin Technical Analysis for 2015-05-06] Volume: 29587200, RSI (14-day): 45.98, 50-day EMA: 239.55, 200-day EMA: 264.78 [Wider Market Context] Gold Price: 1190.30, Gold RSI: 48.69 Oil Price: 60.93, Oil RSI: 70.00 [Recent News (last 7 days)] Your first trade for Wednesday: The "Fast Money" traders discussed their final trades of the day. Tim Seymour was a buyer of the TBT(NYSE Arca: TBT). Steve Grasso was a buyer of BTU(BTU). Brian Kelly was a seller of the EWG(NYSE Arca: EWG). Guy Adami was a buyer of the TLT(NYSE Arca: TLT). Trader disclosure: On May 5, 2015, the following stocks and commodities mentioned or intended to be mentioned on CNBC's "Fast Money" were owned by the "Fast Money" traders:Tim Seymour is long T, BAC, DIS, F, GE, GM, GOOGL, INTC, SUNE, TBT, Tim's firm is long BABA, AAPL, MCD, NKE, NOK, SBUX, YHOO. Brian Kelly is long BTC=, BBRY, SPY puts, U.S. Dollar, he is short Australian Dollar, he is short Yen, he is short Yuan, he is short DAX. Steve Grasso is long AAPL, BAC, BTU, DD, EVGN, MJNA, PFE, T, TWTR, GDX, his firm is long AMZN, AMD, FCX, OXY, RIG, NE, TSE, VALE his kids own EFG, EFA, EWJ, IJR, SPY. Guy Adami is long CELG, EXAS, INTC, Guy Adami's wife, Linda Snow, works at Merck. More From CNBC • Top News and Analysis • Latest News Video • Personal Finance \|\| Your first trade for Wednesday: The " Fast Money " traders discussed their final trades of the day. Tim Seymour was a buyer of the TBT (NYSE Arca: TBT) . Steve Grasso was a buyer of BTU ( BTU ) . Brian Kelly was a seller of the EWG (NYSE Arca: EWG) . Guy Adami was a buyer of the TLT (NYSE Arca: TLT) . Trader disclosure: On May 5, 2015, the following stocks and commodities mentioned or intended to be mentioned on CNBC's "Fast Money" were owned by the "Fast Money" traders: Tim Seymour is long T, BAC, DIS, F, GE, GM, GOOGL, INTC, SUNE, TBT, Tim's firm is long BABA, AAPL, MCD, NKE, NOK, SBUX, YHOO. Brian Kelly is long BTC=, BBRY, SPY puts, U.S. Dollar, he is short Australian Dollar, he is short Yen, he is short Yuan, he is short DAX. Steve Grasso is long AAPL, BAC, BTU, DD, EVGN, MJNA, PFE, T, TWTR, GDX, his firm is long AMZN, AMD, FCX, OXY, RIG, NE, TSE, VALE his kids own EFG, EFA, EWJ, IJR, SPY. Guy Adami is long CELG, EXAS, INTC, Guy Adami's wife, Linda Snow, works at Merck. More From CNBC Top News and Analysis Latest News Video Personal Finance \|\| Obama's 'Hands Off' Marijuana Policy Put To The Test: President Obama has said that although the federal government still classifies the possession or sale of marijuana as a criminal act, individual states will have the power to decriminalize the drug if they so choose. However, the fractured laws have created some controversy regarding the legality of the marijuana industry, with many Americans becoming frustrated with the White House's "hands-off" approach. Now, a lawsuit between states with conflicting marijuana legislation could force the President to take a side. Border Issues Colorado's legalization of recreational marijuana has come under fire from neighboring states Nebraska and Oklahoma, both of which still prohibit marijuana use. The states have filed a lawsuit calling for the Supreme Court to reverse Colorado's marijuana legislation. Both say their law enforcement agencies have been under increased pressure to uphold federal marijuana laws, as more and more people illegally cross the border with pot they purchased in Colorado. Related Link:Marijuana Industry Blazes The Path For A New Kind Of Lawyer Obama To Weigh In On Monday, the Supreme Courtaskedthe White House for its view on the lawsuit, something that will add fuel to the growing debate on whether or not federal laws regarding marijuana should be amended. So far, the President hasn't made any public comments regarding the case, but its outcome will likely have far reaching consequences for the push for marijuana legalization in the U.S. Image Credit: Public Domain See more from Benzinga • Case Attempts To Solve Bitcoin's Security Problem • A Better Understanding Of The Government's Information-Sharing Bills • UK Takes The Spotlight With Uncertain Elections Looming © 2015 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. \|\| Obama's 'Hands Off' Marijuana Policy Put To The Test: President Obama has said that although the federal government still classifies the possession or sale of marijuana as a criminal act, individual states will have the power to decriminalize the drug if they so choose. However, the fractured laws have created some controversy regarding the legality of the marijuana industry, with many Americans becoming frustrated with the White House's "hands-off" approach. Now, a lawsuit between states with conflicting marijuana legislation could force the President to take a side. Border Issues Colorado's legalization of recreational marijuana has come under fire from neighboring states Nebraska and Oklahoma, both of which still prohibit marijuana use. The states have filed a lawsuit calling for the Supreme Court to reverse Colorado's marijuana legislation. Both say their law enforcement agencies have been under increased pressure to uphold federal marijuana laws, as more and more people illegally cross the border with pot they purchased in Colorado. Related Link: Marijuana Industry Blazes The Path For A New Kind Of Lawyer Obama To Weigh In On Monday, the Supreme Court asked the White House for its view on the lawsuit, something that will add fuel to the growing debate on whether or not federal laws regarding marijuana should be amended. So far, the President hasn't made any public comments regarding the case, but its outcome will likely have far reaching consequences for the push for marijuana legalization in the U.S. Image Credit: Public Domain See more from Benzinga Case Attempts To Solve Bitcoin's Security Problem A Better Understanding Of The Government's Information-Sharing Bills UK Takes The Spotlight With Uncertain Elections Looming © 2015 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. View comments \|\| Security Thought Leaders at Cisco, HP, Identiv, Imageware, Nok Nok and Bosch Security Are Featured on SecuritySolutionsWatch.com: NEW YORK, NY--(Marketwired - May 5, 2015) - ImageWare Systems, Inc. ( OTCQB : IWSY ); Identiv ( NASDAQ : INVE ) Cisco Mr. Christian Matthews, Director of Product Management for IoT Software, Cisco , told us, "Simply monitoring high-value assets provides a general example. Video surveillance combined with other sensor output such as audio, motion, or building contacts is used to increase protection and monitor assets without constant human supervision. Threats of incidents are detected and the risks mitigated by alerting personnel or automatically initiating preventative actions. When combined with advance video analytics, benefits continue to grow. At the University of San Francisco (USF), IP cameras and the Cisco Video Surveillance Manager deliver facial recognition to detect when unauthorized individuals enter an area and then notify appropriate staff. Dallas Area Rapid Transit (DART) use Cisco's IoT Physical Security solutions to increase effectiveness of the transit police. With better intelligence, first responders and their associated operations teams have increased productivity substantially. They have done this at scale with a centralized command center managing more than 1700 remotely deployed IP cameras. Recently the system has been extended across busses and emergency response vehicles." For the complete interview with Christian Matthews at Cisco, please click here , or here: www.securitysolutionswatch.com/Interviews/in_Boardroom_Cisco_Matthews.html For more information: Connected Safety and Security ( http://www.cisco.com/c/en/us/products/physical-security/index.html ) Cisco Case Studies ( http://www.cisco.com/c/en/us/products/physical-security/customer-case-study.html ) *** HP Enterprise Services Mr. Fred Duball, Data Center Practice Principal, Workload and Cloud Solutions, HP Enterprise Services, U.S. Public Sector, told us, "Many of our clients know that HP has a strong legacy of IT infrastructure support; we have more than 80 data centers worldwide supporting more than 1,300 customers. But here's what makes the Mid-Atlantic Data Center (MDC) different -- we have enhanced our security and compliance posture to accommodate and support the critical needs of the U.S. Federal Government, as well as commercial companies requiring stronger measures. The HP Mid-Atlantic Data Center has been designed to provide customers with high levels of security, reliability, compliance and cost effectiveness. In fact, the U.S. government has designated this facility as being a part of our nation's critical infrastructure, guaranteeing priority restoral of services in the event of a natural or manmade disaster." Story continues For the complete interview with Fred Duball at HP, please click here , or here: www.securitysolutionswatch.com/Interviews/in_Boardroom_HP_FredDuball.html For more information: Transform to the New Style of IT - HP Solutions for U.S. Public Sector * Identiv Identiv, Inc. ( INVE ) recently announced that it has entered into an agreement with Cisco Systems Inc. to provide solutions for the Internet of Everything (IoE). The IoE is the intelligent connection of people, processes, data and things to the Internet, bringing unprecedented economic opportunities to both the private and public sectors. Initially, Identiv will deliver a next-generation, networked physical access control system (PACS) solution that interacts with other IoE elements, such as Cisco virtual supervisor module (VSM) cameras and Cisco voice-over-IP (VoIP) telephony products. Identiv will offer a completely network based access control system, including credentials, advanced networked uTrust TS door sensors, Power-over-Ethernet (PoE) door controllers and access control software. Identiv is committed to disrupting the traditional physical access market by offering a fully network-based solution that is easy to buy and use. Customers will gain enhanced value, lower installation costs and less complexity by using standards-based network cabling, leading to reduced total cost of ownership (TCO) and improved return on investment (ROI). "Everything is connecting, and physical access is no different," said Jason Hart, Identiv CEO. "Identiv is allowing customers to view physical access control as another element of the Internet of Everything. Our focus on identity as the new security perimeter allows us to build connected systems linking buildings, mobile devices, cloud services, and information systems that are easy to use, standards based, cost effective, and most importantly, secure." Financial terms of the partnership were not disclosed. For more information please visit www.identiv.com/ciscopartnership . For our interview with Mr. Jason Hart, President, Identiv, please click here or here: www.securitysolutionswatch.com/Interviews/in_Boardroom_Identiv_Hart.html And, please also see our interview with Mr. Paul Brady , Technology and Solution Evangelist Senior Director at Identiv , please click here or here: http://www.securitysolutionswatch.com/Interviews/in_Boardroom_Identiv_Brady.html For more information www.Identiv.com * ImageWare Systems, Inc. ImageWare Systems, Inc. (OTCQB: IWSY ) (ImageWare) a leader in mobile and cloud-based, multi-modal biometric identity management solutions, recently announced: Extenua and ImageWare Deliver Revolutionary Enterprise Secure Cloud Storage ( www.iwsinc.com/extenua-and-imageware-deliver-revolutionary-enterprise-secure-cloud-storage/ ) Agility and ImageWare Partner to Bring Biometric Solutions to New Markets ( www.iwsinc.com/agility-and-imageware-partner-to-bring-biometric-solutions-to-new-markets/ ) ImageWare Systems Joins as an Advanced Partner in the CA Technologies Tech Partner Program ( www.iwsinc.com/iws-joins-as-an-advanced-partner-in-the-ca-technologies-tech-partner-program/ ) ImageWare To Combine Technologies with TransUnion ( www.wsinc.com/imageware-to-combine-technologies-with-transunion/ ) For our complete interview with Jim Miller, ImageWare Systems, Chairman and CEO, please click here or here: www.securitystockwatch.com/Interviews/in_Boardroom_ImageWare.html For more information: www.iwsinc.com * Bosch Security Systems Mr. Daniel Murray , Director Key Accounts, Systems Integration, Bosch Security Systems , told us, "Cyber security is a major area of concern for integrators, and future success is tied to the integrators' ability to meet their own cyber security needs and those of the customers they support. One of the most startling facts is that the vast majority of cyber vulnerabilities can be mitigated by appropriate password implementation and process management. This is common practice in the IT world and an area for improvement in the arena of physical network security. Many of the thousands of cameras installed globally are done so with default, insufficient and missing passwords. This is an easy 'first step' in securing the physical security network which is missed by many dealers. At the PSA Cybersecurity Congress, discussion focused on multiple factors of network integrity that will change the face of our industry in the next 3-5 years." For the complete interview with Mr. Daniel Murray at Bosch Security Systems , please click here or here: http://www.securitysolutionswatch.com/Interviews/in_Boardroom_Bosch_Murray.html * Nok Nok Labs Nok Nok Labs, an innovator in modern authentication and a founding member of the FIDO Alliance, and DDS, Inc., a leading Japanese biometric company, announced a strategic partnership to jointly drive adoption of Nok Nok Labs' products in the Japanese market, meeting the need for a more secure online environment. The two companies are working together to support Device Manufacturers, Mobile Network Operators and Online Service Providers and to drive the adoption of the FIDO Ready™ NNL™ S3 Authentication Suite with the goal of making online and mobile transactions more secure. "The need for a more secure, easy to use, scalable online authentication ecosystem is a global concern," said Phil Dunkelberger, President & CEO of Nok Nok Labs. "Joining forces with DDS provides us with a strong partner in the Japanese market to meet the needs of the region and to drive the growth in the market for FIDO-based authentication." DDS joined the FIDO Alliance in April 2014 becoming the first Japanese member. DDS has driven various activities to increase FIDO awareness in Japan such as the FIDO TOKYO Seminar and FIDO 1.0 PR event. "Nok Nok Labs and the FIDO Alliance have done a great job in promoting the FIDO movement in the U.S. and other global markets," says Kenji Miyoshino, CEO of DDS. "Partnering with Nok Nok Labs will help drive significant business opportunities in the Japanese market, helping to create a more secure online environment on a global level." For more information, please click here or here: https://www.noknok.com/what-they-say/press-releases/nok-nok-labs-and-dds-inc-form-strategic-partnership-drive-adoption-fido . WATCH THE VIDEO, please click here , or here: https://www.youtube.com/embed/gHDM4Yv3u18?rel=0&wmode=transparent&autoplay=1&width=1280&height=720&iframe=true Mr. Ramesh Kesanupalli, Founder of Nok Nok Labs, Founding Member, FIDO Alliance, told us, "Prevailing password authentication has proven to be insecure and risky amidst a world of escalating security threats, cyber crime and targeted attacks, not to mention increasing vulnerability associated with so many more vectors of attack coming through the Internet of Things (IoT). Right now, we are moving from informational access to a major life style change where we can access everything digitally. We're at the threshold of using authentication to pay at retail stores with our phones, to open and start our cars, to manage home networks, appliances, and security systems all through connected devices. Authentication is the FIRST step we must perform to begin to effectively use IoT." For the complete interview with Ramesh Kesanupalli please click here , or here: www.securitysolutionswatch.com/Interviews/in_Boardroom_NokNok_Ramesh.html * TRADE SHOWS CARTES SECURE CONNEXIONS AMERICA 2015 May 5-7, 2015 Washington, DC www.cartes-america.com -- The fourth edition of CARTES SECURE CONNEXIONS AMERICA will take place May 5 - 7, 2015 at the Walter E. Washington Convention Center in Washington, DC. The event will feature 70 sessions, 5 keynotes, 125 exhibitors and 2,000 attendees. Hot topics such as EMV Integration, Mobile Payment Technologies and The Future of Digital Currencies will be the center of discussion at the upcoming 2015 CARTES SECURE CONNEXIONS AMERICA in Washington, DC. Each day of the event is kicked off with keynote presentations. Tuesday Keynotes: Patrick Murck, Executive Director , Bitcoin Foundation David Keenan, Senior Vice President Network Solutions, Fiserv Wednesday Keynote Panel: Carolyn Balfany, Senior Vice President of Product Delivery - EMV, MasterCard will moderate and lead a panel of experts from all over the industry -- issuers, retailers and manufacturers -- with first-hand knowledge of chip adoption that will address EMV questions. Thursday Keynotes: Scott Hagstrom, Senior Director, Financial Cards & EMV Strategy, ABnote Karen Czack, Vice President of Global Chip Products, American Express * Cyber Security Summit The Cyber Security Summit is an exclusive "By Invitation Only" Summit series connecting C-Level & Senior Executives responsible for protecting their companies' critical infrastructures with cutting-edge technology providers and renowned information security experts. The one day event, being held on June 3rd in the DC Metro Area, September 18th in New York City & October 9th in Boston will focus on educating attendees on how to best protect their highly vulnerable business applications, intellectual property and discover the latest products and services for enterprise Cyber Defense. www.CyberSummitUSA.com * The World of Cloud Computing All in One Place! Cloud Computing - Big Data - Internet of Things - DevOps - WebRTC Join Us at Cloud Expo New York June 9-11 http://www.cloudcomputingexpo.com/ Cloud computing is now being embraced by a majority of enterprises of all sizes. Yesterday's debate about public vs. private has transformed into the reality of hybrid cloud: a recent survey shows that 74% of enterprises have a hybrid cloud strategy. Meanwhile, 94% of enterprises are using some form of XaaS--software, platform, and infrastructure as a service. Cloud Expo is the single show where delegates and technology vendors can meet to experience and discuss the entire world of the cloud. * The 14th Annual Smart Card Alliance Government Conference Smart Strategies for Secure Identity June 9-10, 2015 Walter E. Washington Convention Center Washington, DC The Smart Card Alliance Government Conference was established over a decade ago, following the landmark government-wide security directive signed in August, 2004. HSPD-12 established standards for verifying an individual's identity and issuing a tamper-proof credential that could be rapidly authenticated electronically. The conference has become the annual gathering place for the original leaders of this initiative as well as the current heads of federal agencies and industry leaders who continue to set the standards for identity credentialing and access security. This year's conference will look forward to future developments in policy and evolving standards for government-issued credentials and their use by relying parties in physical and logical access systems, including use with mobile devices. * Money20/20 October 25-28, 2015, The Venetian, Las Vegas, NV, United States http://money2020.com/register , http://money2020.com/ , [email protected] , Organizer Email: [email protected] Money20/20 is the largest global event enabling payments and financial services innovation for connected commerce at the intersection of mobile, retail, marketing services, data and technology. With 10,000+ attendees, including more than 1,000 CEOs, from over 3,000 companies and 75 countries, expected at its 2015 U.S. event, Money20/20 is critical to realizing the vision of disruptive ways in which consumers and businesses manage, spend and borrow money. The next Money20/20 will be held in Las Vegas, October 25-28, 2015, followed by Money20/20 Europe in Spring 2016. * TEC 2015 \| Westminster, CO \| May 4-8, 2015 \| www.psatec.com TEC 2015, presented by PSA Security Network, is the premier education and networking event that is open to all professionals in the physical security industry. TEC features an entire week of education, networking, dedicated exhibit hours that do not conflict with education sessions, and custom learning paths designed to benefit a company's entire team from the business owner to sales, marketing, operations and technical professionals. In addition to all new sessions, TEC 2015 will feature a NEW cybersecurity track designed to provide practical solutions and applications that build on the education program provided at the PSA Cybersecurity Congress held in January 2015. TEC also boasts a comprehensive registration package that includes access to the keynote address, all networking events, meals, and all non-certification courses at no additional cost, ensuring attendees get access to all that TEC has to offer. Registration opens February 23 at www.psatec.com . * SDW 2015 - The Global Hub For Next Generation Citizen & Government ID Solutions QEII Conference Centre, Westminster, London, UK Conference: 9-11 June 2015 - Exhibition 10-11 June 2015 SDW 2015 (Security Document World) -- the world's leading document security show -- focuses on ePassports, visas, driving licenses, national IDs, worker credentials, advanced border control, anti-counterfeiting, fraud detection, and much more. The event will provide a global showcase for next-generation human identity solutions, focusing on intrinsic document security and on the new cutting-edge secure infrastructure now required to produce and use these advanced documents in live situations. Plus, a special focus on Biometrics, Document Fraud Detection and Intelligent Border Control. Contact: Janine Bill, Exhibition Sales & Sponsorship Manager at Tel No: +44 (0) 1189 843209 or by email at: [email protected] www.sdw2015.com * THIS PRESS RELEASE, AND ALL MATERIAL PERTAINING TO SECURITYSOLUTIONSWATCH.COM AND SECURITYSTOCKWATCH.COM, ONLINE OR IN PRINT, IS SUBJECT TO OUR TERMS OF USE, CONDITIONS, AND DISCLAIMER HERE: http://securitysolutionswatch.com/Main/Terms_of_Use.html \|\| Security Thought Leaders at Cisco, HP, Identiv, Imageware, Nok Nok and Bosch Security Are Featured on SecuritySolutionsWatch.com: NEW YORK, NY--(Marketwired - May 5, 2015) -ImageWare Systems, Inc.(OTCQB:IWSY); Identiv (NASDAQ:INVE) Cisco Mr. Christian Matthews, Director of Product Management for IoT Software,Cisco, told us, "Simply monitoring high-value assets provides a general example. Video surveillance combined with other sensor output such as audio, motion, or building contacts is used to increase protection and monitor assets without constant human supervision. Threats of incidents are detected and the risks mitigated by alerting personnel or automatically initiating preventative actions. When combined with advance video analytics, benefits continue to grow. At theUniversity of San Francisco(USF), IP cameras and the Cisco Video Surveillance Manager deliver facial recognition to detect when unauthorized individuals enter an area and then notify appropriate staff.Dallas Area Rapid Transit(DART) use Cisco's IoT Physical Security solutions to increase effectiveness of the transit police. With better intelligence, first responders and their associated operations teams have increased productivity substantially. They have done this at scale with a centralized command center managing more than 1700 remotely deployed IP cameras. Recently the system has been extended across busses and emergency response vehicles." For the complete interview with Christian Matthews at Cisco,please click here, or here:www.securitysolutionswatch.com/Interviews/in_Boardroom_Cisco_Matthews.html For more information:Connected Safety and Security(http://www.cisco.com/c/en/us/products/physical-security/index.html)Cisco Case Studies(http://www.cisco.com/c/en/us/products/physical-security/customer-case-study.html) * HP Enterprise Services Mr. Fred Duball, Data Center Practice Principal, Workload and Cloud Solutions, HP Enterprise Services, U.S. Public Sector, told us, "Many of our clients know that HP has a strong legacy of IT infrastructure support; we have more than 80 data centers worldwide supporting more than 1,300 customers. But here's what makes the Mid-Atlantic Data Center (MDC) different -- we have enhanced our security and compliance posture to accommodate and support the critical needs of the U.S. Federal Government, as well as commercial companies requiring stronger measures. The HP Mid-Atlantic Data Center has been designed to provide customers with high levels of security, reliability, compliance and cost effectiveness. In fact, the U.S. government has designated this facility as being a part of our nation's critical infrastructure, guaranteeing priority restoral of services in the event of a natural or manmade disaster." For the complete interview with Fred Duball at HP,please click here, or here:www.securitysolutionswatch.com/Interviews/in_Boardroom_HP_FredDuball.html For more information:Transform to the New Style of IT - HP Solutions for U.S. Public Sector * Identiv Identiv, Inc.(INVE) recently announced that it has entered into an agreement with Cisco Systems Inc. to provide solutions for the Internet of Everything (IoE). The IoE is the intelligent connection of people, processes, data and things to the Internet, bringing unprecedented economic opportunities to both the private and public sectors. Initially, Identiv will deliver a next-generation, networked physical access control system (PACS) solution that interacts with other IoE elements, such as Cisco virtual supervisor module (VSM) cameras and Cisco voice-over-IP (VoIP) telephony products. Identiv will offer a completely network based access control system, including credentials, advanced networked uTrust TS door sensors, Power-over-Ethernet (PoE) door controllers and access control software. Identiv is committed to disrupting the traditional physical access market by offering a fully network-based solution that is easy to buy and use. Customers will gain enhanced value, lower installation costs and less complexity by using standards-based network cabling, leading to reduced total cost of ownership (TCO) and improved return on investment (ROI). "Everything is connecting, and physical access is no different," said Jason Hart, Identiv CEO. "Identiv is allowing customers to view physical access control as another element of the Internet of Everything. Our focus on identity as the new security perimeter allows us to build connected systems linking buildings, mobile devices, cloud services, and information systems that are easy to use, standards based, cost effective, and most importantly, secure." Financial terms of the partnership were not disclosed. For more information please visitwww.identiv.com/ciscopartnership. For our interview with Mr. Jason Hart, President, Identiv,please click hereor here:www.securitysolutionswatch.com/Interviews/in_Boardroom_Identiv_Hart.html And, please also see our interview withMr. Paul Brady, Technology and Solution Evangelist Senior Director atIdentiv,please click hereor here:http://www.securitysolutionswatch.com/Interviews/in_Boardroom_Identiv_Brady.html For more informationwww.Identiv.com * ImageWare Systems, Inc. ImageWare Systems, Inc. (OTCQB:IWSY) (ImageWare) a leader in mobile and cloud-based, multi-modal biometric identity management solutions, recently announced: Extenua and ImageWare Deliver Revolutionary Enterprise Secure Cloud Storage(www.iwsinc.com/extenua-and-imageware-deliver-revolutionary-enterprise-secure-cloud-storage/) Agility and ImageWare Partner to Bring Biometric Solutions to New Markets(www.iwsinc.com/agility-and-imageware-partner-to-bring-biometric-solutions-to-new-markets/) ImageWare Systems Joins as an Advanced Partner in the CA Technologies Tech Partner Program(www.iwsinc.com/iws-joins-as-an-advanced-partner-in-the-ca-technologies-tech-partner-program/) ImageWare To Combine Technologies with TransUnion(www.wsinc.com/imageware-to-combine-technologies-with-transunion/) For our complete interview with Jim Miller, ImageWare Systems, Chairman and CEO, please click hereor here:www.securitystockwatch.com/Interviews/in_Boardroom_ImageWare.htmlFor more information:www.iwsinc.com * Bosch Security Systems Mr. Daniel Murray,Director Key Accounts, Systems Integration,Bosch Security Systems, told us, "Cyber security is a major area of concern for integrators, and future success is tied to the integrators' ability to meet their own cyber security needs and those of the customers they support. One of the most startling facts is that the vast majority of cyber vulnerabilities can be mitigated by appropriate password implementation and process management. This is common practice in the IT world and an area for improvement in the arena of physical network security. Many of the thousands of cameras installed globally are done so with default, insufficient and missing passwords. This is an easy 'first step' in securing the physical security network which is missed by many dealers. At the PSA Cybersecurity Congress, discussion focused on multiple factors of network integrity that will change the face of our industry in the next 3-5 years." For the complete interview with Mr. Daniel Murray atBosch Security Systems,please click hereor here:http://www.securitysolutionswatch.com/Interviews/in_Boardroom_Bosch_Murray.html * Nok Nok Labs Nok Nok Labs, an innovator in modern authentication and a founding member of the FIDO Alliance, and DDS, Inc., a leading Japanese biometric company, announced a strategic partnership to jointly drive adoption of Nok Nok Labs' products in the Japanese market, meeting the need for a more secure online environment. The two companies are working together to support Device Manufacturers, Mobile Network Operators and Online Service Providers and to drive the adoption of the FIDO Ready™ NNL™ S3 Authentication Suite with the goal of making online and mobile transactions more secure. "The need for a more secure, easy to use, scalable online authentication ecosystem is a global concern," said Phil Dunkelberger, President & CEO of Nok Nok Labs. "Joining forces with DDS provides us with a strong partner in the Japanese market to meet the needs of the region and to drive the growth in the market for FIDO-based authentication." DDS joined the FIDO Alliance in April 2014 becoming the first Japanese member. DDS has driven various activities to increase FIDO awareness in Japan such as the FIDO TOKYO Seminar and FIDO 1.0 PR event. "Nok Nok Labs and the FIDO Alliance have done a great job in promoting the FIDO movement in the U.S. and other global markets," says Kenji Miyoshino, CEO of DDS. "Partnering with Nok Nok Labs will help drive significant business opportunities in the Japanese market, helping to create a more secure online environment on a global level." For more information, please clickhereor here:https://www.noknok.com/what-they-say/press-releases/nok-nok-labs-and-dds-inc-form-strategic-partnership-drive-adoption-fido. WATCH THE VIDEO, please click here, or here:https://www.youtube.com/embed/gHDM4Yv3u18?rel=0&wmode=transparent&autoplay=1&width=1280&height=720&iframe=true Mr. Ramesh Kesanupalli, Founder of Nok Nok Labs, Founding Member, FIDO Alliance, told us, "Prevailing password authentication has proven to be insecure and risky amidst a world of escalating security threats, cyber crime and targeted attacks, not to mention increasing vulnerability associated with so many more vectors of attack coming through the Internet of Things (IoT). Right now, we are moving from informational access to a major life style change where we can access everything digitally. We're at the threshold of using authentication to pay at retail stores with our phones, to open and start our cars, to manage home networks, appliances, and security systems all through connected devices. Authentication is the FIRST step we must perform to begin to effectively use IoT." For the complete interview with Ramesh Kesanupalli please clickhere, or here:www.securitysolutionswatch.com/Interviews/in_Boardroom_NokNok_Ramesh.html * TRADE SHOWS CARTES SECURE CONNEXIONS AMERICA 2015May 5-7, 2015Washington, DCwww.cartes-america.com -- The fourth edition of CARTES SECURE CONNEXIONS AMERICA will take place May 5 - 7, 2015 at the Walter E. Washington Convention Center in Washington, DC. The event will feature 70 sessions, 5 keynotes, 125 exhibitors and 2,000 attendees. Hot topics such as EMV Integration, Mobile Payment Technologies and The Future of Digital Currencies will be the center of discussion at the upcoming 2015 CARTES SECURE CONNEXIONS AMERICA in Washington, DC. Each day of the event is kicked off with keynote presentations. Tuesday Keynotes:Patrick Murck, Executive Director,Bitcoin FoundationDavid Keenan, Senior Vice President Network Solutions, Fiserv Wednesday Keynote Panel:Carolyn Balfany, Senior Vice President of Product Delivery - EMV, MasterCardwill moderate and lead a panel of experts from all over the industry -- issuers, retailers and manufacturers -- with first-hand knowledge of chip adoption that will address EMV questions. Thursday Keynotes:Scott Hagstrom, Senior Director, Financial Cards & EMV Strategy, ABnoteKaren Czack, Vice President of Global Chip Products, American Express * Cyber Security Summit The Cyber Security Summit is an exclusive "By Invitation Only" Summit series connecting C-Level & Senior Executives responsible for protecting their companies' critical infrastructures with cutting-edge technology providers and renowned information security experts. The one day event, being held on June 3rd in the DC Metro Area, September 18th in New York City & October 9th in Boston will focus on educating attendees on how to best protect their highly vulnerable business applications, intellectual property and discover the latest products and services for enterprise Cyber Defense.www.CyberSummitUSA.com * The World of Cloud Computing All in One Place!Cloud Computing - Big Data - Internet of Things - DevOps - WebRTCJoin Us at Cloud Expo New York June 9-11http://www.cloudcomputingexpo.com/ Cloud computing is now being embraced by a majority of enterprises of all sizes. Yesterday's debate about public vs. private has transformed into the reality of hybrid cloud: a recent survey shows that 74% of enterprises have a hybrid cloud strategy. Meanwhile, 94% of enterprises are using some form of XaaS--software, platform, and infrastructure as a service. Cloud Expo is the single show where delegates and technology vendors can meet to experience and discuss the entire world of the cloud. * The 14th Annual Smart Card Alliance Government ConferenceSmart Strategies for Secure IdentityJune 9-10, 2015Walter E. Washington Convention CenterWashington, DC The Smart Card Alliance Government Conference was established over a decade ago, following the landmark government-wide security directive signed in August, 2004. HSPD-12 established standards for verifying an individual's identity and issuing a tamper-proof credential that could be rapidly authenticated electronically. The conference has become the annual gathering place for the original leaders of this initiative as well as the current heads of federal agencies and industry leaders who continue to set the standards for identity credentialing and access security. This year's conference will look forward to future developments in policy and evolving standards for government-issued credentials and their use by relying parties in physical and logical access systems, including use with mobile devices. * Money20/20October 25-28, 2015, The Venetian, Las Vegas, NV, United Stateshttp://money2020.com/register,http://money2020.com/,[email protected], Organizer Email:[email protected] Money20/20 is the largest global event enabling payments and financial services innovation for connected commerce at the intersection of mobile, retail, marketing services, data and technology. With 10,000+ attendees, including more than 1,000 CEOs, from over 3,000 companies and 75 countries, expected at its 2015 U.S. event, Money20/20 is critical to realizing the vision of disruptive ways in which consumers and businesses manage, spend and borrow money. The next Money20/20 will be held in Las Vegas, October 25-28, 2015, followed by Money20/20 Europe in Spring 2016. * TEC 2015\| Westminster, CO \| May 4-8, 2015 \|www.psatec.com TEC 2015, presented by PSA Security Network, is the premier education and networking event that is open to all professionals in the physical security industry. TEC features an entire week of education, networking, dedicated exhibit hours that do not conflict with education sessions, and custom learning paths designed to benefit a company's entire team from the business owner to sales, marketing, operations and technical professionals. In addition to all new sessions, TEC 2015 will feature a NEW cybersecurity track designed to provide practical solutions and applications that build on the education program provided at the PSA Cybersecurity Congress held in January 2015. TEC also boasts a comprehensive registration package that includes access to the keynote address, all networking events, meals, and all non-certification courses at no additional cost, ensuring attendees get access to all that TEC has to offer. Registration opens February 23 atwww.psatec.com. * SDW 2015 - The Global Hub For Next Generation Citizen & Government ID SolutionsQEII Conference Centre, Westminster, London, UKConference: 9-11 June 2015 - Exhibition 10-11 June 2015 SDW 2015(Security Document World) -- the world's leading document security show -- focuses on ePassports, visas, driving licenses, national IDs, worker credentials, advanced border control, anti-counterfeiting, fraud detection, and much more. The event will provide a global showcase for next-generation human identity solutions, focusing on intrinsic document security and on the new cutting-edge secure infrastructure now required to produce and use these advanced documents in live situations. Plus, a special focus on Biometrics, Document Fraud Detection and Intelligent Border Control. Contact: Janine Bill, Exhibition Sales & Sponsorship Manager at Tel No: +44 (0) 1189 843209 or by email at:[email protected] *** THIS PRESS RELEASE, AND ALL MATERIAL PERTAINING TO SECURITYSOLUTIONSWATCH.COM AND SECURITYSTOCKWATCH.COM, ONLINE OR IN PRINT, IS SUBJECT TO OUR TERMS OF USE, CONDITIONS, AND DISCLAIMER HERE:http://securitysolutionswatch.com/Main/Terms_of_Use.html \|\| Lucrazon Global Helps Merchants by Integrating Cryptocurrency With Bitcoin Payment Acceptance: IRVINE, CA--(Marketwired - May 4, 2015) - California-based Lucrazon Global (http://www.lucrazonglobal.com/), a fully integrated Ecommerce platform and Global Business Network designed specifically for Internet entrepreneurs, Work from Home and Network Marketing professionals, and businesses of any type, reinforces its services offered by accommodating encrypted digital currency Bitcoin payments. The integration of Bitcoins aims at protecting merchants from online fraud and other threats, and comes shortly after Californian Governor, Jerry Brown, passed a bill to approve Bitcoins as a legitimate form of currency for financial transactions in the state (source:http://cointelegraph.com/news/113235/bitcoin-becomes-legal-tender-for-transactions-in-california). Cryptocurrency is a form of digital currency that is managed and utilized with the help of encryption techniques such as cryptography (source:http://www.investopeia.com/articles/forex/091013/future-cryptocurrency.asp). The technology is increasingly popular among ecommerce vendors who use it to process transactions and verifications with the help of networks. After initial security hiccups, Federal Reserve recently declared it a trustworthy alternative to paper money. The fact that cryptocurrency is irreversible allowsLucrazon Globalto protect paying customers against chargebacks -- a type of fraud that is possible through more conventional transaction methods like credit card payments. Lucrazon Global's introduction of the encrypted currency comes at a favorable time that holds a lot of potential for international merchants in circumventing certain risks: According to an annual report by LexisNexis merchants incurred a loss of about $3.4 billion in 2011 through online fraud alone (source:http://btctheory.com/2013/10/30/fraud-chargebacks-and-Bitcoin/). Alex Pitt, CEO ofLucrazon Global, knows that chargebacks have been the bane of ecommerce ventures for years. These can be filed against a customer's billing statement on his credit card if a charge is disputed. Since there are no chargebacks in cryptocurrency, Lucrazon Global's incentive is designed to protect merchants from such malicious schemes thereby keeping transactions secure. Bitcoins are originally bought from exchange companies by investors and traders by using valuable currencies. Online businesses that utilize the technology require customers to store the digital funds in online storage software such as eWallets, on their PCs, or on the web. Payments with the currency are enabled through "Pay with Bitcoin" options on these sites. In 2013, Bitcoins grew exponentially and have become a preferred currency for several types of ecommerce transactions. A number of online stores have adopted the currency as their payments of choice. Brands who have gotten on the Bitcoin trend include Target, Victoria's Secret, the car company Tesla, Zynga, Apple's App Store, Home Depot, Wikipedia, and Subway to name a few (source:http://www.Bitcoinvalues.net/who-accepts-Bitcoins-payment-companies-stores-take-Bitcoins.html). By offering Bitcoins as a payment option, Lucrazon Global now introduces the cryptocurrency to smaller stores and businesses. A fully integrated e-commerce platform and Global Business Network, Lucrazon Global is designed specifically for Internet Entrepreneurs, Work from Home and Network Marketing professionals, and businesses of any type. Specializing in providing multi functional websites such as ecommerce stores, the company offers solutions like product inventories, integrated shopping carts, drop shipments, access to multiple suppliers, and real time account activation. The company has become a leader in ecommerce solutions by working closely with suppliers, manufactures, fulfillment centers centralizing opportunity making it simple for anyone to become an online business professional. For more information or to become a Brand Partner, visit:http://www.lucrazonglobal.com/ Lucrazon Global's blog:http://lucrazonglobalnews.com/ Lucrazon Global Facebook:https://www.facebook.com/LucrazonGlobal Lucrazon Global - Twitter:https://twitter.com/lucrazon Image Available:http://www2.marketwire.com/mw/frame_mw?attachid=2815608Embedded Video Available:http://www2.marketwire.com/mw/frame_mw?attachid=2815611 \|\| Lucrazon Global Helps Merchants by Integrating Cryptocurrency With Bitcoin Payment Acceptance: IRVINE, CA--(Marketwired - May 4, 2015) - California-based Lucrazon Global ( http://www.lucrazonglobal.com/ ), a fully integrated Ecommerce platform and Global Business Network designed specifically for Internet entrepreneurs, Work from Home and Network Marketing professionals, and businesses of any type, reinforces its services offered by accommodating encrypted digital currency Bitcoin payments. The integration of Bitcoins aims at protecting merchants from online fraud and other threats, and comes shortly after Californian Governor, Jerry Brown, passed a bill to approve Bitcoins as a legitimate form of currency for financial transactions in the state (source: http://cointelegraph.com/news/113235/bitcoin-becomes-legal-tender-for-transactions-in-california ). Cryptocurrency is a form of digital currency that is managed and utilized with the help of encryption techniques such as cryptography (source: http://www.investopeia.com/articles/forex/091013/future-cryptocurrency.asp ). The technology is increasingly popular among ecommerce vendors who use it to process transactions and verifications with the help of networks. After initial security hiccups, Federal Reserve recently declared it a trustworthy alternative to paper money. The fact that cryptocurrency is irreversible allows Lucrazon Global to protect paying customers against chargebacks -- a type of fraud that is possible through more conventional transaction methods like credit card payments. Lucrazon Global's introduction of the encrypted currency comes at a favorable time that holds a lot of potential for international merchants in circumventing certain risks: According to an annual report by LexisNexis merchants incurred a loss of about $3.4 billion in 2011 through online fraud alone (source: http://btctheory.com/2013/10/30/fraud-chargebacks-and-Bitcoin/ ). Alex Pitt, CEO of Lucrazon Global , knows that chargebacks have been the bane of ecommerce ventures for years. These can be filed against a customer's billing statement on his credit card if a charge is disputed. Since there are no chargebacks in cryptocurrency, Lucrazon Global's incentive is designed to protect merchants from such malicious schemes thereby keeping transactions secure. Story continues Bitcoins are originally bought from exchange companies by investors and traders by using valuable currencies. Online businesses that utilize the technology require customers to store the digital funds in online storage software such as eWallets, on their PCs, or on the web. Payments with the currency are enabled through "Pay with Bitcoin" options on these sites. In 2013, Bitcoins grew exponentially and have become a preferred currency for several types of ecommerce transactions. A number of online stores have adopted the currency as their payments of choice. Brands who have gotten on the Bitcoin trend include Target, Victoria's Secret, the car company Tesla, Zynga, Apple's App Store, Home Depot, Wikipedia, and Subway to name a few (source: http://www.Bitcoinvalues.net/who-accepts-Bitcoins-payment-companies-stores-take-Bitcoins.html ). By offering Bitcoins as a payment option, Lucrazon Global now introduces the cryptocurrency to smaller stores and businesses. A fully integrated e-commerce platform and Global Business Network, Lucrazon Global is designed specifically for Internet Entrepreneurs, Work from Home and Network Marketing professionals, and businesses of any type. Specializing in providing multi functional websites such as ecommerce stores, the company offers solutions like product inventories, integrated shopping carts, drop shipments, access to multiple suppliers, and real time account activation. The company has become a leader in ecommerce solutions by working closely with suppliers, manufactures, fulfillment centers centralizing opportunity making it simple for anyone to become an online business professional. For more information or to become a Brand Partner, visit: http://www.lucrazonglobal.com/ Lucrazon Global's blog: http://lucrazonglobalnews.com/ Lucrazon Global Facebook: https://www.facebook.com/LucrazonGlobal Lucrazon Global - Twitter: https://twitter.com/lucrazon Image Available: http://www2.marketwire.com/mw/frame_mw?attachid=2815608 Embedded Video Available: http://www2.marketwire.com/mw/frame_mw?attachid=2815611 \|\| Lucrazon Global Helps Merchants by Integrating Cryptocurrency With Bitcoin Payment Acceptance: IRVINE, CA--(Marketwired - May 4, 2015) - California-based Lucrazon Global (http://www.lucrazonglobal.com/), a fully integrated Ecommerce platform and Global Business Network designed specifically for Internet entrepreneurs, Work from Home and Network Marketing professionals, and businesses of any type, reinforces its services offered by accommodating encrypted digital currency Bitcoin payments. The integration of Bitcoins aims at protecting merchants from online fraud and other threats, and comes shortly after Californian Governor, Jerry Brown, passed a bill to approve Bitcoins as a legitimate form of currency for financial transactions in the state (source:http://cointelegraph.com/news/113235/bitcoin-becomes-legal-tender-for-transactions-in-california). Cryptocurrency is a form of digital currency that is managed and utilized with the help of encryption techniques such as cryptography (source:http://www.investopeia.com/articles/forex/091013/future-cryptocurrency.asp). The technology is increasingly popular among ecommerce vendors who use it to process transactions and verifications with the help of networks. After initial security hiccups, Federal Reserve recently declared it a trustworthy alternative to paper money. The fact that cryptocurrency is irreversible allowsLucrazon Globalto protect paying customers against chargebacks -- a type of fraud that is possible through more conventional transaction methods like credit card payments. Lucrazon Global's introduction of the encrypted currency comes at a favorable time that holds a lot of potential for international merchants in circumventing certain risks: According to an annual report by LexisNexis merchants incurred a loss of about $3.4 billion in 2011 through online fraud alone (source:http://btctheory.com/2013/10/30/fraud-chargebacks-and-Bitcoin/). Alex Pitt, CEO ofLucrazon Global, knows that chargebacks have been the bane of ecommerce ventures for years. These can be filed against a customer's billing statement on his credit card if a charge is disputed. Since there are no chargebacks in cryptocurrency, Lucrazon Global's incentive is designed to protect merchants from such malicious schemes thereby keeping transactions secure. Bitcoins are originally bought from exchange companies by investors and traders by using valuable currencies. Online businesses that utilize the technology require customers to store the digital funds in online storage software such as eWallets, on their PCs, or on the web. Payments with the currency are enabled through "Pay with Bitcoin" options on these sites. In 2013, Bitcoins grew exponentially and have become a preferred currency for several types of ecommerce transactions. A number of online stores have adopted the currency as their payments of choice. Brands who have gotten on the Bitcoin trend include Target, Victoria's Secret, the car company Tesla, Zynga, Apple's App Store, Home Depot, Wikipedia, and Subway to name a few (source:http://www.Bitcoinvalues.net/who-accepts-Bitcoins-payment-companies-stores-take-Bitcoins.html). By offering Bitcoins as a payment option, Lucrazon Global now introduces the cryptocurrency to smaller stores and businesses. A fully integrated e-commerce platform and Global Business Network, Lucrazon Global is designed specifically for Internet Entrepreneurs, Work from Home and Network Marketing professionals, and businesses of any type. Specializing in providing multi functional websites such as ecommerce stores, the company offers solutions like product inventories, integrated shopping carts, drop shipments, access to multiple suppliers, and real time account activation. The company has become a leader in ecommerce solutions by working closely with suppliers, manufactures, fulfillment centers centralizing opportunity making it simple for anyone to become an online business professional. For more information or to become a Brand Partner, visit:http://www.lucrazonglobal.com/ Lucrazon Global's blog:http://lucrazonglobalnews.com/ Lucrazon Global Facebook:https://www.facebook.com/LucrazonGlobal Lucrazon Global - Twitter:https://twitter.com/lucrazon Image Available:http://www2.marketwire.com/mw/frame_mw?attachid=2815608Embedded Video Available:http://www2.marketwire.com/mw/frame_mw?attachid=2815611 \|\| Chrysler joins Starbucks in 'schooling' American workers: The hot new corporate “perk” is: education. Fiat Chrysler (FCAU) is now offering free college tuition to its 188,000 dealership employees.The programprovides a no-cost online bachelor’s degree through the for-profit Strayer University (STRA), and is similar toa planannounced earlier this year between Starbucks (SBUX) and Arizona State University. Yahoo Finance Editor in Chief Andy Serwer points out that in the current work environment, firms need to both build a smarter workforce…and give smart people a reason to join their operations. “Increasingly, companies are frustrated about getting educated workers and they’re looking to differentiate and attract workers,” he says. “I think you’re going to see more and of this, particularly as wages rise and the competition-- the supply/demand balance-- shifts to making it difficult to find good workers.” Fiat Chrysler executive Al Gardner makes that point in explaining why the carmaker is launching this program. “Many of our dealers have expressed concern over the availability of talent to fill open positions due to business growth and turnover in their stores, especially in metro markets.” That doesn’t surprise Yahoo Finance’s Jen Rogers. “Once you find them you want to keep them,” she says. “And the turnover is a real issue in dealerships--between 45% and 60%.” Get the Latest Market Data and News with the Yahoo Finance App Yahoo Finance Senior Columnist Michael Santoli adds many businesses are responding like Fiat Chrysler to what they recognize as a real need. “Corporate America is stepping in where they see gaps in educating workers, retaining them and essentially having people get what they feel like they ought to get out of a career,” he explains. Serwer sees that as well. “There’s a story in theNew York Timestoday about income mobility and how, in certain parts of the country, there is none anymore,” he points out. “So companies are going to step into the breach here. I think they’re going to have to add on all kinds of perks.” And Serwer believes offering free college tuition is a really important perk considering the divide between people’s skills and what’s needed in the 21st century workplace. “God knows there’s a gap,” he says. “We need to educate people in this country.” Also from Yahoo Finance Bitcoin goes mainstream with Goldman Sachs' backing McDonald's comeback plan: Is it enough? \|\| Chrysler joins Starbucks in 'schooling' American workers: The hot new corporate perk is: education. Fiat Chrysler ( FCAU ) is now offering free college tuition to its 188,000 dealership employees. The program provides a no-cost online bachelors degree through the for-profit Strayer University ( STRA ), and is similar to a plan announced earlier this year between Starbucks ( SBUX ) and Arizona State University. Yahoo Finance Editor in Chief Andy Serwer points out that in the current work environment, firms need to both build a smarter workforceand give smart people a reason to join their operations. Increasingly, companies are frustrated about getting educated workers and theyre looking to differentiate and attract workers, he says. I think youre going to see more and of this, particularly as wages rise and the competition-- the supply/demand balance-- shifts to making it difficult to find good workers. Fiat Chrysler executive Al Gardner makes that point in explaining why the carmaker is launching this program. Many of our dealers have expressed concern over the availability of talent to fill open positions due to business growth and turnover in their stores, especially in metro markets. That doesnt surprise Yahoo Finances Jen Rogers. Once you find them you want to keep them, she says. And the turnover is a real issue in dealerships--between 45% and 60%. Get the Latest Market Data and News with the Yahoo Finance App Yahoo Finance Senior Columnist Michael Santoli adds many businesses are responding like Fiat Chrysler to what they recognize as a real need. Corporate America is stepping in where they see gaps in educating workers, retaining them and essentially having people get what they feel like they ought to get out of a career, he explains. Serwer sees that as well. Theres a story in the New York Times today about income mobility and how, in certain parts of the country, there is none anymore, he points out. So companies are going to step into the breach here. I think theyre going to have to add on all kinds of perks. Story continues And Serwer believes offering free college tuition is a really important perk considering the divide between peoples skills and whats needed in the 21st century workplace. God knows theres a gap, he says. We need to educate people in this country. Also from Yahoo Finance Bitcoin goes mainstream with Goldman Sachs' backing McDonald's comeback plan: Is it enough? \|\| UK Takes The Spotlight With Uncertain Elections Looming: Although Greece's debt drama has been paramount for investors over the past few months, this week may see more of a focus on what has historically been one of the most stable economies in Europe— the UK. On Thursday, the region will hold its national elections which have set up a fierce battle between its Labour and Conservative parties. A Close Race Opinion polls in the past weeks have shown that both parties are neck and neck, something many believe will end with neither gaining an overall majority when the vote is over. Investors are beginning to worry that the May 7 election could end with a hung parliament and a possible multi-party coalition. UK Position In Eurozone At Stake The Conservative party has promised to hold a referendum on the UK's membership in the European Union if elected into power. Although most surveys suggest that the British population is in support of remaining a part of the EU, a referendum vote could have a negative impact on the region's market. Related Link: U.S. Tech Firms Prepare To Go To Battle Scottish National Party Gains Ground Polls have shown that the Scottish National Party is on track to win a sweeping majority of Scotland's seats in parliament, making the group a powerful ally for the Labour Party. Representatives from the SNP have voiced their willingness to form a coalition government with the Labour party, but say they would refuse to partner with the Conservatives. This is another concern for markets as it could reignite bitter feelings from last year's Scottish independence vote. No Right Answer No matter this week's outcome, most expect to see UK markets take a beating in the days following the election. Because of the fragmented nature of this year's vote, a decisive outcome is considered very unlikely. For that reason, investors will be on edge about the region's future, which could drive the pound and the FTSE lower. See more from Benzinga Here's Where To Invest If You Believe In Self-Driving Cars Tesla's New Battery Could Save Money For Pot Growers Bitcoin Goes To The Movies © 2015 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. \|\| UK Takes The Spotlight With Uncertain Elections Looming: Although Greece's debt drama has been paramount for investors over the past few months, this week may see more of a focus on what has historically been one of the most stable economies in Europe— the UK. On Thursday, the region will hold its national elections which have set up afierce battlebetween its Labour and Conservative parties. A Close Race Opinion polls in the past weeks have shown that both parties are neck and neck, something many believe will end with neither gaining an overall majority when the vote is over. Investors are beginning to worry that the May 7 election could end with a hung parliament and a possible multi-party coalition. UK Position In Eurozone At Stake The Conservative party has promised to hold a referendum on the UK's membership in the European Union if elected into power. Although most surveys suggest that the British population is in support of remaining a part of the EU, a referendum vote could have a negative impact on the region's market. Related Link:U.S. Tech Firms Prepare To Go To Battle Scottish National Party Gains Ground Polls have shown that the Scottish National Party is on track to win a sweeping majority of Scotland's seats in parliament, making the group a powerful ally for the Labour Party. Representatives from the SNP have voiced their willingness to form a coalition government with the Labour party, but say they would refuse to partner with the Conservatives. This is another concern for markets as it could reignite bitter feelings from last year's Scottish independence vote. No Right Answer No matter this week's outcome, most expect to see UK markets take a beating in the days following the election. Because of the fragmented nature of this year's vote, a decisive outcome is considered very unlikely. For that reason, investors will be on edge about the region's future, which could drive the pound and the FTSE lower. See more from Benzinga • Here's Where To Invest If You Believe In Self-Driving Cars • Tesla's New Battery Could Save Money For Pot Growers • Bitcoin Goes To The Movies © 2015 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. \|\| Meet Europe's newest tax haven and micro-state: Europe's newest "state" welcomed its first citizens this weekend, after a small group of libertarians declared independence for a patch of land on the border between Croatia and Serbia. The "Free Republic of Liberland" has received no official recognition, but celebrated its first "Liberty Day" on May 1, doling out honorary citizenship to the first 100 attendees to arrive at the party in country. Its "president", Vit Jedlicka, is a 31-year-old Czech, who is a former financial analyst and self-described libertarian. He said that long-term, he hoped Liberland could become a successful financial center due to its loose tax laws. "I would categorize it as a tax heaven," Jedlicka said. "The reason why Liberland was created was that the rest of the world ended up being a tax hell." Nearly 300,000 people have already applied for Liberland citizens, 80 of whom are billionaires, according to Jedlicka. Jedlicka and two other Czechs formed the new state on April 13 on a patch of woodland near the Danube River between Croatia and Serbia in South East Europe. Liberland said the area was left unclaimed following a border dispute between Croatia and Serbia in the 1940s. For much of the 20th century, both states were part of Yugoslavia. The new country measures only 2.7 square miles in area, meaning it would rank among Vatican City and Monaco as one of the world's smallest "micro-states." Jedlicka said forming Liberland was an attempt to shake up the political status quo. "I tried for five years to change something in politics, but taxes were still rising, regulations were more and more intruding into people's lives, so I sort of found out that I couldn't change it for better," Jedlicka told CNBC. "My political opponents always told me I should create my own state to show how my liberalism would work. And then I did." Neither Croatia nor Serbia has recognized Liberland's sovereignty. In an official statement sent to CNBC, the Serbian Ministry of Foreign Affairs described Jedlicka as a right-wing politician and said the "newly created country" was outside Serbia's territory. Story continues "The Ministry also considers this a frivolous act which needs no further comment," the Serbian Ministry added. A spokesperson for Croatia's Foreign Ministry reiterated a Facebook comment posted shortly after Liberland declared independence in mid-April. "Virtual quips, no matter how interesting they occasionally sound, remain what they are-virtual quips, and for them we do not have any official comment," the spokesperson said. But Jedlicka still hopes to gain recognition from other nations and has already set up an an office in Serbia that he plans to convert to an embassy. Liberland's founders have pulled out all the stops, providing the country with its own laws, constitution, flag and motto: "To live and let live." For those who missed gaining citizenship on Liberty Day, the country continues to accept citizenship applications online. Anyone is allowed to become a citizen as long as they have a clean criminal record and "do not have communist, Nazi or other extremist past." Jedlicka said costs of developing and running the country would initially come from citizens, some of whom had already helped raise $15,000 to fund accommodation for the 20 volunteers running the presidential office. Liberland will be run as a constitutional republic with elements of direct democracy, according to its website. Any currency will be accepted, including Bitcoin (: BTC=) , Jedlicka said. More From CNBC Top News and Analysis Latest News Video Personal Finance \|\| Meet Europe's newest tax haven and micro-state: Europe's newest "state" welcomed its first citizens this weekend, after a small group of libertarians declared independence for a patch of land on the border between Croatia and Serbia. The "Free Republic of Liberland" has received no official recognition, but celebrated its first "Liberty Day" on May 1, doling out honorary citizenship to the first 100 attendees to arrive at the party in country. Its "president", Vit Jedlicka, is a 31-year-old Czech, who is a former financial analyst and self-described libertarian. He said that long-term, he hoped Liberland could become a successful financial center due to its loose tax laws. "I would categorize it as a tax heaven," Jedlicka said. "The reason why Liberland was created was that the rest of the world ended up being a tax hell." Nearly 300,000 people have already applied for Liberland citizens, 80 of whom are billionaires, according to Jedlicka. Jedlicka and two other Czechs formed the new state on April 13 on a patch of woodland near the Danube River between Croatia and Serbia in South East Europe. Liberland said the area was left unclaimed following a border dispute between Croatia and Serbia in the 1940s. For much of the 20th century, both states were part of Yugoslavia. The new country measures only 2.7 square miles in area, meaning it would rank among Vatican City and Monaco as one of the world's smallest "micro-states." Jedlicka said forming Liberland was an attempt to shake up the political status quo. "I tried for five years to change something in politics, but taxes were still rising, regulations were more and more intruding into people's lives, so I sort of found out that I couldn't change it for better," Jedlicka told CNBC. "My political opponents always told me I should create my own state to show how my liberalism would work. And then I did." Neither Croatia nor Serbia has recognized Liberland's sovereignty. In an official statement sent to CNBC, the Serbian Ministry of Foreign Affairs described Jedlicka as a right-wing politician and said the "newly created country" was outside Serbia's territory. "The Ministry also considers this a frivolous act which needs no further comment," the Serbian Ministry added. A spokesperson for Croatia's Foreign Ministry reiterated a Facebook comment posted shortly after Liberland declared independence in mid-April. "Virtual quips, no matter how interesting they occasionally sound, remain what they are-virtual quips, and for them we do not have any official comment," the spokesperson said. But Jedlicka still hopes to gain recognition from other nations and has already set up an an office in Serbia that he plans to convert to an embassy. Liberland's founders have pulled out all the stops, providing the country with its own laws, constitution, flag and motto: "To live and let live." For those who missed gaining citizenship on Liberty Day, the country continues to accept citizenship applications online. Anyone is allowed to become a citizen as long as they have a clean criminal record and "do not have communist, Nazi or other extremist past." Jedlicka said costs of developing and running the country would initially come from citizens, some of whom had already helped raise $15,000 to fund accommodation for the 20 volunteers running the presidential office. Liberland will be run as a constitutional republic with elements of direct democracy, according to its website. Any currency will be accepted, including Bitcoin(: BTC=), Jedlicka said. More From CNBC • Top News and Analysis • Latest News Video • Personal Finance \|\| Thoughts on The Future of Bitcoin From Genesis-Minings CEO Marco Streng – Established Bitcoin Cloud Mining Company: Established In 2013 And One Of The Largest Bitcoin Cloud Mining Platforms In The World, Genesis-Mining's CEO Marco Streng Shares His Thoughts On The Possible Future Of Bitcoin Hong Kong / ACCESSWIRE / May 2, 2015 /Writing about the future of Bitcoin with any certainty is like saying someone knows a certain horse will definitely win the Triple Crown this year. The fact is that the technology could go anywhere, legislation could change everything, andBitcoin culture continues to evolve somewhat sporadically. But there is no fun in not speculating; so Genesis Mining CEO Marco Streng decided to answer the impossible questions.BecauseGenesis Mining is one of the largest suppliers of any Bitcoin company in the world, Streng is uniquely informed about what new technologies are coming into vogue, which are over-hyped, and what research could change the technology tomorrow. "There is a lot of innovation and pioneering going on in the mining world. Advancements range from innovative data center structures, intelligent and more powerful mining farm monitoring solutions, to more and more optimized chip designs for lower and lower nanometer scales." Bitcoin culture today places a premium on the crowd-monitored nature of the technology, but as the power continually gravitates towards large companies and large data centers, that culture's voice is losing its thunder. The question is whether the average user will embrace the new era of mining or reject Bitcoin altogether. While the currency still represents the most regulatory-free currency in the world, its early adopters envisioned nothing short of utopia. Big companies are as prone to corruption as any other organization, or so the argument goes. Streng got the question if the consolidation of mining will hurt or help the Bitcoin movement, especially concerning the Bitcoin faithful. "What people may forget is that the higher the total mining power in the network, the less vulnerable Bitcoin is. In the early days, a private individual could possibly gain enough influence to control the Bitcoin network by a large enough investment in mining. Times have changed and it is much harder to do that now." One of the biggest obstacles still facing the currency is evangelizing the many millions of people who believe it is a fringe movement, a fad, one that will disappear quietly in a few years. It does continue to edge its way in to the mainstream with small but notable successes, like Rand Paul’s new presidential campaign website accepting donations in BTC. And the technology does continue to gain high profile backers from numerous industries. But even with the most rose colored lenses, no one can say that Bitcoin is mainstream. Streng doesn’t think we will have to wait too long for that to happen. "For those of us born in the late 80’s and early 90’s, we grew up with the internet being a major part of our lives. We didn’t have to adopt the technology, we simply had to learn to use it and convince our parents we needed to upgrade our dial up connection. Change is hard, and we saw older generations struggle to use Google instead of libraries and Amazon instead of RadioShack. Despite some people opposing it and all the negativity it received, the internet prevailed and has changed the daily lives of billions of people. I understand that Bitcoin sounds crazy to some, but inmany ways it is following the same path as the internet, and I think it will change the world just as profoundly." Time will tell if Streng is right — if a more centralized infrastructure can mesh with Bitcoin culture, if the technology will be embraced by the general public, and if officials in the US and other countries decide not to regulate. But one thing is for sure, many thousands of highly informed critics said Bitcoin would never last as long as it has. About Genesis-Mining:Hong Kong basedGenesis-Mining was established in October 2013 with Bitcoin cloud mining facilities located in Iceland, USA and Canada. Genesis-Mining has a partnership with the world's largest ASIC manufacturer; Spondoolies Tech.For more information about us, please visithttps://www.genesis-mining.com/a/47631 Contact:Paulo [email protected] Source:Genesis-Mining \|\| Thoughts on The Future of Bitcoin From Genesis-Minings CEO Marco Streng – Established Bitcoin Cloud Mining Company: Established In 2013 And One Of The Largest Bitcoin Cloud Mining Platforms In The World, Genesis-Mining's CEO Marco Streng Shares His Thoughts On The Possible Future Of Bitcoin Hong Kong / ACCESSWIRE / May 2, 2015 /Writing about the future of Bitcoin with any certainty is like saying someone knows a certain horse will definitely win the Triple Crown this year. The fact is that the technology could go anywhere, legislation could change everything, andBitcoin culture continues to evolve somewhat sporadically. But there is no fun in not speculating; so Genesis Mining CEO Marco Streng decided to answer the impossible questions.BecauseGenesis Mining is one of the largest suppliers of any Bitcoin company in the world, Streng is uniquely informed about what new technologies are coming into vogue, which are over-hyped, and what research could change the technology tomorrow. "There is a lot of innovation and pioneering going on in the mining world. Advancements range from innovative data center structures, intelligent and more powerful mining farm monitoring solutions, to more and more optimized chip designs for lower and lower nanometer scales." Bitcoin culture today places a premium on the crowd-monitored nature of the technology, but as the power continually gravitates towards large companies and large data centers, that culture's voice is losing its thunder. The question is whether the average user will embrace the new era of mining or reject Bitcoin altogether. While the currency still represents the most regulatory-free currency in the world, its early adopters envisioned nothing short of utopia. Big companies are as prone to corruption as any other organization, or so the argument goes. Streng got the question if the consolidation of mining will hurt or help the Bitcoin movement, especially concerning the Bitcoin faithful. "What people may forget is that the higher the total mining power in the network, the less vulnerable Bitcoin is. In the early days, a private individual could possibly gain enough influence to control the Bitcoin network by a large enough investment in mining. Times have changed and it is much harder to do that now." One of the biggest obstacles still facing the currency is evangelizing the many millions of people who believe it is a fringe movement, a fad, one that will disappear quietly in a few years. It does continue to edge its way in to the mainstream with small but notable successes, like Rand Paul’s new presidential campaign website accepting donations in BTC. And the technology does continue to gain high profile backers from numerous industries. But even with the most rose colored lenses, no one can say that Bitcoin is mainstream. Streng doesn’t think we will have to wait too long for that to happen. "For those of us born in the late 80’s and early 90’s, we grew up with the internet being a major part of our lives. We didn’t have to adopt the technology, we simply had to learn to use it and convince our parents we needed to upgrade our dial up connection. Change is hard, and we saw older generations struggle to use Google instead of libraries and Amazon instead of RadioShack. Despite some people opposing it and all the negativity it received, the internet prevailed and has changed the daily lives of billions of people. I understand that Bitcoin sounds crazy to some, but inmany ways it is following the same path as the internet, and I think it will change the world just as profoundly." Time will tell if Streng is right — if a more centralized infrastructure can mesh with Bitcoin culture, if the technology will be embraced by the general public, and if officials in the US and other countries decide not to regulate. But one thing is for sure, many thousands of highly informed critics said Bitcoin would never last as long as it has. About Genesis-Mining:Hong Kong basedGenesis-Mining was established in October 2013 with Bitcoin cloud mining facilities located in Iceland, USA and Canada. Genesis-Mining has a partnership with the world's largest ASIC manufacturer; Spondoolies Tech.For more information about us, please visithttps://www.genesis-mining.com/a/47631 Contact:Paulo [email protected] Source:Genesis-Mining \|\| Thoughts on The Future of Bitcoin From Genesis-Minings CEO Marco Streng Established Bitcoin Cloud Mining Company: Established In 2013 And One Of The Largest Bitcoin Cloud Mining Platforms In The World, Genesis-Mining's CEO Marco Streng Shares His Thoughts On The Possible Future Of Bitcoin Hong Kong / ACCESSWIRE / May 2, 2015 / Writing about the future of Bitcoin with any certainty is like saying someone knows a certain horse will definitely win the Triple Crown this year. The fact is that the technology could go anywhere, legislation could change everything, and Bitcoin culture continues to evolve somewhat sporadically. But there is no fun in not speculating; so Genesis Mining CEO Marco Streng decided to answer the impossible questions . Because Genesis Mining is one of the largest suppliers of any Bitcoin company in the world , Streng is uniquely informed about what new technologies are coming into vogue, which are over-hyped, and what research could change the technology tomorrow. "There is a lot of innovation and pioneering going on in the mining world. Advancements range from innovative data center structures, intelligent and more powerful mining farm monitoring solutions, to more and more optimized chip designs for lower and lower nanometer scales." Bitcoin culture today places a premium on the crowd-monitored nature of the technology, but as the power continually gravitates towards large companies and large data centers, that culture's voice is losing its thunder. The question is whether the average user will embrace the new era of mining or reject Bitcoin altogether. While the currency still represents the most regulatory-free currency in the world, its early adopters envisioned nothing short of utopia. Big companies are as prone to corruption as any other organization, or so the argument goes. Streng got the question if the consolidation of mining will hurt or help the Bitcoin movement, especially concerning the Bitcoin faithful. "What people may forget is that the higher the total mining power in the network, the less vulnerable Bitcoin is. In the early days, a private individual could possibly gain enough influence to control the Bitcoin network by a large enough investment in mining. Times have changed and it is much harder to do that now." Story continues One of the biggest obstacles still facing the currency is evangelizing the many millions of people who believe it is a fringe movement, a fad, one that will disappear quietly in a few years. It does continue to edge its way in to the mainstream with small but notable successes, like Rand Pauls new presidential campaign website accepting donations in BTC. And the technology does continue to gain high profile backers from numerous industries. But even with the most rose colored lenses, no one can say that Bitcoin is mainstream. Streng doesnt think we will have to wait too long for that to happen. "For those of us born in the late 80s and early 90s, we grew up with the internet being a major part of our lives. We didnt have to adopt the technology, we simply had to learn to use it and convince our parents we needed to upgrade our dial up connection. Change is hard, and we saw older generations struggle to use Google instead of libraries and Amazon instead of RadioShack. Despite some people opposing it and all the negativity it received, the internet prevailed and has changed the daily lives of billions of people. I understand that Bitcoin sounds crazy to some, but inmany ways it is following the same path as the internet, and I think it will change the world just as profoundly." Time will tell if Streng is right if a more centralized infrastructure can mesh with Bitcoin culture, if the technology will be embraced by the general public, and if officials in the US and other countries decide not to regulate. But one thing is for sure, many thousands of highly informed critics said Bitcoin would never last as long as it has. About Genesis-Mining: Hong Kong based Genesis-Mining was established in October 2013 with Bitcoin cloud mining facilities located in Iceland, USA and Canada . Genesis-Mining has a partnership with the world's largest ASIC manufacturer; Spondoolies Tech. For more information about us, please visit https://www.genesis-mining.com/a/47631 Contact: Paulo Fiorio [email protected] Genesis-Mining Source: Genesis-Mining \|\| Your first trade for Monday: The " Fast Money " traders closed the show with their first ideas for Monday. Tim Seymour was a buyer of CLF ( CLF ) . Steve Grasso was a buyer of BAC ( BAC ) . Brian Kelly was a seller of the XLU (NYSE Arca: XLE) . Guy Adami was a buyer of MET ( MET ) . Trader disclosure: On May 1, 2015 , the following stocks and commodities mentioned or intended to be mentioned on CNBC's "Fast Money" were owned by the "Fast Money" traders: Tim Seymour is long T, BAC, DIS, EUO, F, GE, GM, GOOGL, INTC, SUNE, Tim's firm is long BABA, AAPL, CLF, MCD, NKE, NOK, SBUX, YHOO. Steve Grasso is long AAPL, BAC, BTU, DD, EVGN, MJNA, PFE, T, TWTR, GDX, his firm is long TWTR, WYNN, AMZN, AMD, FCX, OXY, RIG, NE, TSE, VALE his kids own EFG, EFA, EWJ, IJR, SPY. Guy Adami is long CELG, EXAS, INTC, Guy Adami's wife, Linda Snow, works at Merck. Brian Kelly is long BTC=, BBRY, SPY puts, U.S. Dollar, he is short Australian Dollar, he is short Yen, he is short Yuan. Today he sold Crude Oil, GLD, GSG, and covered his 30-year bond short position. More From CNBC Top News and Analysis Latest News Video Personal Finance \|\| Your first trade for Monday: The "Fast Money" traders closed the show with their first ideas for Monday. Tim Seymour was a buyer of CLF(CLF). Steve Grasso was a buyer of BAC(BAC). Brian Kelly was a seller of the XLU(NYSE Arca: XLE). Guy Adami was a buyer of MET(MET). Trader disclosure: On May 1, 2015 , the following stocks and commodities mentioned or intended to be mentioned on CNBC's "Fast Money" were owned by the "Fast Money" traders:Tim Seymour is long T, BAC, DIS, EUO, F, GE, GM, GOOGL, INTC, SUNE, Tim's firm is long BABA, AAPL, CLF, MCD, NKE, NOK, SBUX, YHOO. Steve Grasso is long AAPL, BAC, BTU, DD, EVGN, MJNA, PFE, T, TWTR, GDX, his firm is long TWTR, WYNN, AMZN, AMD, FCX, OXY, RIG, NE, TSE, VALE his kids own EFG, EFA, EWJ, IJR, SPY. Guy Adami is long CELG, EXAS, INTC, Guy Adami's wife, Linda Snow, works at Merck.Brian Kelly is long BTC=, BBRY, SPY puts, U.S. Dollar, he is short Australian Dollar, he is short Yen, he is short Yuan. Today he sold Crude Oil, GLD, GSG, and covered his 30-year bond short position. More From CNBC • Top News and Analysis • Latest News Video • Personal Finance [Social Media Buzz] LIVE: Profit = $897.46 (24.85 %). BUY B15.37 @ $234.76 (#Bitfinex). SELL @ $246.00 (#VirCurex) #bitcoin #btc - http://www.projectcoin.org \|\| #BTCUSD #Analysis- #Bitcoin price awaits the motive 06/05/2015 Expected trading range is between 170.00 support and 300.00 resistance \|\| $228.67 at 00:15 UTC [24h Range: $227.01 - $235.89 Volume: 8688 BTC] \|\| Current price: 154.83£ $BTCGBP $btc #bitcoin 2015-05-06 05:00:03 BST \|\| Current price: 234.4$ $BTCUSD $btc #bitcoin 2015-05-06 12:00:04 EDT \|\| Curren...	237.33, 243.86, 241.83, 240.30, 242.16, 241.11, 236.38, 236.93, 237.60, 236.15
Given the historical Bitcoin prices from the last 90 days, predict the next 10 daily closing prices. The historical prices are: 58758.55, 59057.88, 58192.36, 56048.94, 58323.95, 58245.00, 59793.23, 60204.96, 59893.45, 63503.46, 63109.70, 63314.01, 61572.79, 60683.82, 56216.18, 55724.27, 56473.03, 53906.09, 51762.27, 51093.65, 50050.87, 49004.25, 54021.75, 55033.12, 54824.70, 53555.11, 57750.18, 57828.05, 56631.08, 57200.29, 53333.54, 57424.01, 56396.52, 57356.40, 58803.78, 58232.32, 55859.80, 56704.57, 49150.54, 49716.19, 49880.54, 46760.19, 46456.06, 43537.51, 42909.40, 37002.44, 40782.74, 37304.69, 37536.63, 34770.58, 38705.98, 38402.22, 39294.20, 38436.97, 35697.61, 34616.07, 35678.13, 37332.86, 36684.93, 37575.18, 39208.77, 36894.41, 35551.96, 35862.38, 33560.71, 33472.63, 37345.12, 36702.60, 37334.40, 35552.52, 39097.86, 40218.48, 40406.27, 38347.06, 38053.50, 35787.25, 35615.87, 35698.30, 31676.69, 32505.66, 33723.03, 34662.44, 31637.78, 32186.28, 34649.64, 34434.34, 35867.78, 35040.84, 33572.12, 33897.05.	[Bitcoin Technical Analysis for 2021-07-02] Volume: 38728974942, RSI (14-day): 44.84, 50-day EMA: 38515.98, 200-day EMA: 39966.88 [Wider Market Context] Gold Price: 1782.60, Gold RSI: 39.28 Oil Price: 75.16, Oil RSI: 71.26 [Recent News (last 7 days)] Fintech Focus For July 2, 2021: Quote To Start The Day:“I refuse to accept other people’s ideas of happiness for me. As if there’s a one size fits all standard for happiness.” Source:Kanye West One Big Thing In Fintech:Six fintechs — PayPal, Square, Varo, Affirm, LendingClub and Oportun — asked the [CFPB] in a letter Tuesday to give more guidance on how it will apply the theory of disparate impact when artificial intelligence (AI), machine learning (ML) and alternative credit data are used to make lending decisions. Source:Banking Dive Other Key Fintech Developments: • OurBancaddsMX for bank tech. • Spotlightturnsto M&A for SPACs. • Tiger Global tobackfintech Yap. • Mintableraises$13M in funding. • Karatraisesfor creator finances. • Northern Trustdigitizesservicing. • TP ICAP, Liquidnet: Growthdeal. • Calaxysecures$7.5M in funding. • Robinhooddetailsa crypto surge. • Swarmlaunchesregulated DeFi. • TheTop 250Fintech Companies. • BNPsignedFIS tech agreement. • Codatadds$40M funding round. • CovarioaddedMETACO custody. • Carro fintech arm eyesfinancing. • SoftBankfundsMercado Bitcoin. • Apollo isstakingMotive Partners. • Mastercard, FDIC eyeinclusion. • CharlieaddsDirectPay to toolkit. • dxFeed, Small Exch.addproduct. • Rapyd isacquiringValitor fintech. • Bison Trails hasaddednetworks. Watch Out For This:The basis trade, where crypto investors ... profit from discrepancies between spot and future prices, had become a reliable double-digit annual return generator until it was upended in May. The dramatic sell-off saw a number of leveraged positions, mostly held by retail investors, flushed out. Source:Bloomberg Interesting Reads: • Tenant eviction deadlinelooming. • Stock marketsneedshort sellers. • Pandemicpusheshousing stress. • Ford Bronco factory toshutdown. • Analysis: Innovation cycle history. • A California town iswithoutwater. Market Moving Headline:“The delta variant should not have significant repercussions for the pandemic situation in developed markets (e.g. Europe and North America, which have [made] strong progress in vaccinations) due to the level of population immunity.” Source:JPMorgan See more from Benzinga • Click here for options trades from Benzinga • Josh Richards Joins NHL As Special Adviser • Fintech Focus For July 1, 2021 © 2021 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. \|\| Fintech Focus For July 2, 2021: Fintech Header Quote To Start The Day: “I refuse to accept other people’s ideas of happiness for me. As if there’s a one size fits all standard for happiness.” Source: Kanye West One Big Thing In Fintech: Six fintechs — PayPal, Square, Varo, Affirm, LendingClub and Oportun — asked the [CFPB] in a letter Tuesday to give more guidance on how it will apply the theory of disparate impact when artificial intelligence (AI), machine learning (ML) and alternative credit data are used to make lending decisions. Source: Banking Dive Other Key Fintech Developments: OurBanc adds MX for bank tech. Spotlight turns to M&A for SPACs. Tiger Global to back fintech Yap. Mintable raises $13M in funding. Karat raises for creator finances. Northern Trust digitizes servicing. TP ICAP, Liquidnet: Growth deal . Calaxy secures $7.5M in funding. Robinhood details a crypto surge. Swarm launches regulated DeFi. The Top 250 Fintech Companies. BNP signed FIS tech agreement. Codat adds $40M funding round. Covario added METACO custody. Carro fintech arm eyes financing . SoftBank funds Mercado Bitcoin. Apollo is staking Motive Partners. Mastercard, FDIC eye inclusion . Charlie adds DirectPay to toolkit. dxFeed, Small Exch. add product. Rapyd is acquiring Valitor fintech. Bison Trails has added networks. Watch Out For This: The basis trade, where crypto investors ... profit from discrepancies between spot and future prices, had become a reliable double-digit annual return generator until it was upended in May. The dramatic sell-off saw a number of leveraged positions, mostly held by retail investors, flushed out. Source: Bloomberg Interesting Reads: Tenant eviction deadline looming . Stock markets need short sellers. Pandemic pushes housing stress. Ford Bronco factory to shut down. Analysis : Innovation cycle history. A California town is without water. Market Moving Headline: “The delta variant should not have significant repercussions for the pandemic situation in developed markets (e.g. Europe and North America, which have [made] strong progress in vaccinations) due to the level of population immunity.” Story continues Source: JPMorgan See more from Benzinga Click here for options trades from Benzinga Josh Richards Joins NHL As Special Adviser Fintech Focus For July 1, 2021 © 2021 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. \|\| Daily Crunch: After quarters of explosive growth, a profitable Robinhood files to go public: To get a roundup of TechCrunch’s biggest and most important stories delivered to your inbox every day at 3 p.m. PDT, subscribe here . Hello and welcome to Daily Crunch for July 1, 2021. It’s Robinood IPO day! That’s the headline, really. This afternoon the American consumer fintech company filed to go public in what will prove to be an early contender for the third-quarter’s most important IPO. We also have a metric ton of other startup news for you. And don’t forget that the next TechCrunch event is next week ! Let’s go! -- Alex TC Early Stage 2021: Marketing & Fundraising kicks off in 1 week The TechCrunch Top 3 Robinhood is going public: In our first look at the company’s IPO filing we observed a quickly growing consumer fintech company that made money in 2020. The company swung to a loss in the first quarter of 2021, but as TechCrunch reported , that loss is largely immaterial. Robinhood closed out Q1 2021 on an annual run rate of more than $2 billion. Hot dang. Apple’s software rollout continues: After dropping public betas for iOS 15 and iPadOS 15 yesterday, Apple released the public beta version of macOS 12.0 Monterey. You can download it now, if you are a brave soul who wants to do some testing. For the rest of us, yes that’s the sound of a required corporate update in our future. Articulate raises $1.5B in Series A: After bootstrapping for ages, corporate edtech company Articulate raised a $1.5 billion Series A round on a $3.75 billion valuation. The outsized, putatively early-staged round was the leading story of the day until Robinhood arrived and kicked it into third. Startups/VC Looping back to a few topics that TechCrunch has been covering extensively in recent weeks, there’s fresh news from Karat , a neobank aimed at the creator economy. Everyone wants to make money off creators starting to make money, it seems. And from the global startup market, TechCrunch has fresh notes on the future of European IPOs for those of you into such things. Story continues Now, the day’s rounds: Nowports raises $16M to automate Latin American freight: Supply chain software startups are big business, and Nowports wants in on the boom. The startup’s latest round was led by Mouro Capital, with Nowports now backed by around $24 million in capital to date. Codat raises $40M to build the Plaid for companies: APIs are popular. Fintech APIs are super popular. And fintech APIs that connect individuals’ money to other companies are Plaid. Codat wants to build Plaid, but for SMB financial data. And Tiger is now backing it. Mercado Bitcoin raises $200M for its bitcoin market: In the wake of the Coinbase direct listing, and seemingly strong crypto trading volumes in the second quarter, it’s not a huge surprise to see fintech companies that facilitate consumer bitcoin purchases attract attention. Seeing Brazil’s Mercado raise such a huge check, then, is not a huge surprise. Good news for hungry Europeans: If you want groceries, and want them now, “Rohlik, a Czech startup that has built an online grocery ordering and delivery business selling grocery fare,” TechCrunch reports, has just raised €100 million in a round that values the company at €1 billion. Ghost raises $100M for crash prevention: How much money can self-driving car tech collect? At least nine-figures more we’ve learned thanks to the new Ghost round. Ghost is also the name of a web content CMS. This is not that. Instead, this Ghost is working on what TechCrunch called “universal collision avoidance technology” for autonomous driving systems. To guard against data loss and misuse, the cybersecurity conversation must evolve Locking down data centers and networks against intruders is just one aspect of an organization's security responsibilities; cloud services, collaboration tools and APIs extend security perimeters even farther. What's more, the systems created to prevent the misuse and mishandling of sensitive data often depend heavily on someone's better angels. According to Sid Trivedi, a partner at Foundation Capital, and seven-time CIO Mark Settle, IT managers need to replace existing DLP frameworks with a new one that centers on DMP — data misuse protection. These solutions "will provide data assets with more sophisticated self-defense mechanisms instead of relying on the surveillance of traditional security perimeters," and many startups are already competing in this space. To guard against data loss and misuse, the cybersecurity conversation must evolve (Extra Crunch is our membership program, which helps founders and startup teams get ahead. You can sign up here .) Big Tech Inc. We revisited some themes we’ve seen before in our startup section. The same goes for our look at Big Tech. On the government-and-tech side of things: India doesn’t appreciate Big Tech companies, part 47: Manish Singh reports that “India’s central bank has identified Big Tech’s push into financial services as a challenge for banks in the South Asian market, saying the growing presence of these firms have prompted concerns about creation of an uneven playing field.” Recall that India is also irked at Twitter and has various other beefs with different tech companies. Paris fines Airbnb: Sticking to the government theme, Airbnb got hit with an €8 million fine today, a fee worth 0.14% of the company’s $6.6 billion in cash it held at the end of the first quarter, per its latest earnings report . The Daily Crunch would like to congratulate the City of Light on its auspicious regulatory victory. Lastly, from Pinterest, something that stood out while going back through the day’s news: A prohibition of weight-loss advertising . Lots of folks struggle with eating disorders, body image and related issues. So Pinterest is doing away with one type of advertisement that might harm those folks. With decisions like this we don’t want to be overly kind to the company in question as we don’t know how much money it is leaving on the table, but the move could hint at more active social media regulation of owned platforms in the future. At least when it comes to ads. TechCrunch Experts: Growth Marketing Illustration montage based on education and knowledge in blue Image Credits: SEAN GLADWELL (opens in a new window) / Getty Images We’re reaching out to startup founders to tell us who they turn to when they want the most up-to-date growth marketing practices. Fill out the survey here. Read one of the recommendations we’ve received below! Name of marketer: Amy Konefal Name of recommender: Dan Reardon, formerly of vudu.com Recommendation: “Amy drove scale for us as we grew to a half-billion-dollar company. She identified and exploited efficiencies and built out a rich portfolio of channels.” Community The Pittsburgh City Spotlight was a huge success ! Thank you to everyone who attended, as well as the over 80 companies that submitted to participate in our pitch-off . In case you missed the event, you can check out the interview with Pittsburgh’s Mayor , our chat with CMU’s President and the latest on Duolingo from their director of Engineering . Cool things happening in your city? Drop us a tweet about where you’d like to see us spotlight next. TC Eventful Image Credits: Stephanie McCabe / Unsplash We’re rolling into the long holiday weekend here in the States, and in true American style, we’re offering a Fourth of July sale on tickets to not just one but all FOUR TechCrunch events in 2021: TechCrunch Early Stage (July 8-9), TC Disrupt (Sept 21-23), TC Sessions: SaaS (October 27) and TC Sessions: Space (December 14-15). Our 4th of July ticket sale kicks into gear starting today through July 6 where you can get two tickets for the price of one on any of these TechCrunch events coming soon to a virtual platform near you. You can find all of our events and lock in your two-for-one tickets at techcrunch.com/events . \|\| Daily Crunch: After quarters of explosive growth, a profitable Robinhood files to go public: To get a roundup of TechCrunch’s biggest and most important stories delivered to your inbox every day at 3 p.m. PDT,subscribe here. Hello and welcome to Daily Crunch for July 1, 2021. It’s Robinood IPO day! That’s the headline, really. This afternoon the American consumer fintech company filed to go public in what will prove to be an early contender for the third-quarter’s most important IPO. We also have a metric ton of other startup news for you. And don’t forget thatthe next TechCrunch event is next week! Let’s go! --Alex TC Early Stage 2021: Marketing & Fundraising kicks off in 1 week • Robinhood is going public:In our first look at the company’s IPO filing we observed a quickly growing consumer fintech company that made money in 2020. The company swung to a loss in the first quarter of 2021, butas TechCrunch reported, that loss is largely immaterial. Robinhood closed out Q1 2021 on an annual run rate of more than $2 billion. Hot dang. • Apple’s software rollout continues:After dropping public betas for iOS 15 and iPadOS 15 yesterday, Apple released the public beta version of macOS 12.0 Monterey. You can download it now, if you are a brave soul who wants to do some testing. For the rest of us, yes that’s the sound of a required corporate update in our future. • Articulate raises $1.5B in Series A:After bootstrapping for ages, corporate edtech company Articulate raised a $1.5 billion Series A round on a $3.75 billion valuation. The outsized, putatively early-staged round was the leading story of the day until Robinhood arrived and kicked it into third. Looping back to a few topics that TechCrunch has been covering extensively in recent weeks, there’sfresh news from Karat, a neobank aimed at the creator economy. Everyone wants to make money off creators starting to make money, it seems. And from the global startup market,TechCrunch has fresh notes on the future of European IPOsfor those of you into such things. Now, the day’s rounds: • Nowports raises $16M to automate Latin American freight:Supply chain software startups are big business, and Nowports wants in on the boom. The startup’s latest round was led by Mouro Capital, with Nowports now backed by around $24 million in capital to date. • Codat raises $40M to build the Plaid for companies:APIs are popular. Fintech APIs are super popular. And fintech APIs that connect individuals’ money to other companies are Plaid. Codat wants to build Plaid, but for SMB financial data. And Tiger is now backing it. • Mercado Bitcoin raises $200M for its bitcoin market:In the wake of the Coinbase direct listing, and seemingly strong crypto trading volumes in the second quarter, it’s not a huge surprise to see fintech companies that facilitate consumer bitcoin purchases attract attention. Seeing Brazil’s Mercado raise such a huge check, then, is not a huge surprise. • Good news for hungry Europeans:If you want groceries, and want them now, “Rohlik, a Czech startup that has built an online grocery ordering and delivery business selling grocery fare,” TechCrunch reports, has just raised €100 million in a round that values the company at €1 billion. • Ghost raises $100M for crash prevention:How much money can self-driving car tech collect? At least nine-figures more we’ve learned thanks to the new Ghost round. Ghost is also the name of a web content CMS. This is not that. Instead,thisGhost is working on what TechCrunch called “universal collision avoidance technology” for autonomous driving systems. Locking down data centers and networks against intruders is just one aspect of an organization's security responsibilities; cloud services, collaboration tools and APIs extend security perimeters even farther. What's more, the systems created to prevent the misuse and mishandling of sensitive data often depend heavily on someone's better angels. According to Sid Trivedi, a partner at Foundation Capital, and seven-time CIO Mark Settle, IT managers need to replace existing DLP frameworks with a new one that centers on DMP — data misuse protection. These solutions "will provide data assets with more sophisticated self-defense mechanisms instead of relying on the surveillance of traditional security perimeters," and many startups are already competing in this space. To guard against data loss and misuse, the cybersecurity conversation must evolve (Extra Crunch is our membership program, which helps founders and startup teams get ahead.You can sign up here.) We revisited some themes we’ve seen before in our startup section. The same goes for our look at Big Tech. On the government-and-tech side of things: • India doesn’t appreciate Big Tech companies, part 47:Manish Singh reports that “India’s central bank has identified Big Tech’s push into financial services as a challenge for banks in the South Asian market, saying the growing presence of these firms have prompted concerns about creation of an uneven playing field.” Recall that India is also irked at Twitter and has various other beefs with different tech companies. • Paris fines Airbnb:Sticking to the government theme, Airbnb got hit with an €8 million fine today, a fee worth 0.14% of the company’s $6.6 billion in cash it held at the end of the first quarter, per itslatest earnings report. The Daily Crunch would like to congratulate the City of Light on its auspicious regulatory victory. • Lastly, from Pinterest, something that stood out while going back through the day’s news:A prohibition of weight-loss advertising. Lots of folks struggle with eating disorders, body image and related issues. So Pinterest is doing away with one type of advertisement that might harm those folks. With decisions like this we don’t want to be overly kind to the company in question as we don’t know how much money it is leaving on the table, but the move could hint at more active social media regulation of owned platforms in the future. At least when it comes to ads. Image Credits:SEAN GLADWELL(opens in a new window)/ Getty Images We’re reaching out to startup founders to tell us who they turn to when they want the most up-to-date growth marketing practices.Fill out the survey here. Read one of the recommendations we’ve received below! Name of marketer:Amy Konefal Name of recommender:Dan Reardon, formerly ofvudu.com Recommendation:“Amy drove scale for us as we grew to a half-billion-dollar company. She identified and exploited efficiencies and built out a rich portfolio of channels.” ThePittsburgh City Spotlight was a huge success! Thank you to everyone who attended, as well as the over 80 companies that submitted to participate inour pitch-off. In case you missed the event, you can check out theinterview with Pittsburgh’s Mayor, ourchat with CMU’s Presidentand thelatest on Duolingo from their director of Engineering. Cool things happening in your city?Drop us a tweetabout where you’d like to see us spotlight next. Image Credits:Stephanie McCabe / Unsplash We’re rolling into the long holiday weekend here in the States, and in true American style, we’re offering a Fourth of July sale on tickets to not just one but all FOUR TechCrunch events in 2021:TechCrunch Early Stage(July 8-9),TC Disrupt(Sept 21-23),TC Sessions: SaaS(October 27) andTC Sessions: Space(December 14-15). Our 4th of July ticket sale kicks into gear starting today through July 6 where you can gettwo tickets for the price of oneon any of these TechCrunch events coming soon to a virtual platform near you. You can find all of our events and lock in your two-for-one tickets attechcrunch.com/events. \|\| Stock Market Today: S&P Sets Another New High to Kick Off Q3: stairs moving higher Getty Images Stocks got off on the right foot for the second half of 2021, rising Thursday after another encouraging unemployment-filings report. First-time jobless claims for the week ended June 26 fell by 51,000 filings to 364,000 – that's lower than estimates for 388,000 claims, and a fresh low since COVID was declared a pandemic. "This morning's beat on jobless claims is a real bright spot," says Cliff Hodge, chief investment officer at wealth management advisor Cornerstone Wealth. "Not only did we print the lowest number since the pandemic began, but it also reverses the trend on misses that we've seen the past few weeks. Staying below that big-round-number 400k level could bolster confidence in risk taking during the dog days of summer." SEE MORE 11 Best Monthly Dividend Stocks and Funds to Buy But the day's gains were far from balanced – energy stocks such as ConocoPhillips ( COP , +3.2%) and EOG Resources ( EOG , +3.2%) led the way on the back of a 2.4% rise in U.S. crude oil futures to $75.23 per barrel. Technology (+0.1%) was flattish, however, and consumer staples (-0.3%) actually posted a small decline. Sign up for Kiplinger's FREE Investing Weekly e-letter for stock, ETF and mutual fund recommendations, and other investing advice. The end result for the major indexes, though, was a fresh high for the S&P 500 Index (+0.5% to 4,319), and gains for both the Dow Jones Industrial Average (+0.4% to 34,633) and Nasdaq Composite (+0.1% to 14,522). Other action in the stock market today: The small-cap Russell 2000 rose 0.8% to 2,329. Krispy Kreme ( DNUT ) had a disappointing start in its return to the public market, opening at $16.30 per share – lower than its initial public offering (IPO) price of $17, which was marked well below the planned range of $21 to $24 per share. The doughnut maker gained some traction during the session, though, settling right at $21.00. In other IPO news, trading app Robinhood today filed its paperwork to go public. While no date was indicated for its debut, the company will trade on the Nasdaq under the ticker "HOOD." Walgreens Boots Alliance ( WBA ) was the worst Dow stock today, sliding 7.4% after earnings. The drugstore chain reported better-than-expected adjusted profit and revenues in its fiscal third quarter and boosted its full-year guidance, due in part to increased traffic from those getting COVID-19 vaccines. Concern that slowing vaccination rates could negatively impact revenue was being cited by some as a reason for today's selloff. Gold futures tacked on 0.3% to settle at $1,776.80 an ounce. The CBOE Volatility Index (VIX) retreated 2.2% to 15.48. Bitcoin prices fell 4.9% to $33,095.95. (Bitcoin trades 24 hours a day; prices reported here are as of 4 p.m. each trading day. Story continues stock price chart 070121 YCharts What Can We Expect in Q3? Well … the past sends mixed signals. "Historically, stocks are weak during the third quarter, something to be aware of as we turn the calendar to July. The S&P 500 Index has gained only 0.7% on average during the third quarter, the worst of the calendar year," says independent broker-dealer LPL Financial. "It has closed green 62% of the time, though, in line with Q1 and Q2. The big reason why the average is worse is some spectacular crashes have taken place during this quarter. Here's the catch … stocks have gained 8 of the past 9 third quarters." Investors don't need to resign themselves to flattish returns, however. SEE MORE Hedge Funds' 25 Top Blue-Chip Stocks to Buy Now Fund investors might want to take a gander at these five mutual funds that have earned a five-star rating from research firm CFRA – a grade that suggests a high likelihood of outperforming their broader asset category over the next 12 months. You could also leave your stock-picking choices to the machines. Since the start of the year, we've been keeping an eye on stocks picked by Danel Capital's artificial intelligence platform , and it continues to build an impressive market-beating track record. The system doesn't make buy-and-hold calls, however – instead, it spies stocks it thinks can outperform over the course of a few months, making it most appropriate for those who like to mix a few small, tactical trades into their portfolios. Read on if you're curious about which stocks Danel's AI platform has its eye on for the rest of the summer. SEE MORE The 25 Best Low-Fee Mutual Funds You Can Buy You may also like Your Guide to Roth Conversions Stock Market Holidays in 2021 Great Jobs for Retirees View comments \|\| Stock Market Today: S&P Sets Another New High to Kick Off Q3: stairs moving higher Getty Images Stocks got off on the right foot for the second half of 2021, rising Thursday after another encouraging unemployment-filings report. First-time jobless claims for the week ended June 26 fell by 51,000 filings to 364,000 – that's lower than estimates for 388,000 claims, and a fresh low since COVID was declared a pandemic. "This morning's beat on jobless claims is a real bright spot," says Cliff Hodge, chief investment officer at wealth management advisor Cornerstone Wealth. "Not only did we print the lowest number since the pandemic began, but it also reverses the trend on misses that we've seen the past few weeks. Staying below that big-round-number 400k level could bolster confidence in risk taking during the dog days of summer." SEE MORE 11 Best Monthly Dividend Stocks and Funds to Buy But the day's gains were far from balanced – energy stocks such as ConocoPhillips ( COP , +3.2%) and EOG Resources ( EOG , +3.2%) led the way on the back of a 2.4% rise in U.S. crude oil futures to $75.23 per barrel. Technology (+0.1%) was flattish, however, and consumer staples (-0.3%) actually posted a small decline. Sign up for Kiplinger's FREE Investing Weekly e-letter for stock, ETF and mutual fund recommendations, and other investing advice. The end result for the major indexes, though, was a fresh high for the S&P 500 Index (+0.5% to 4,319), and gains for both the Dow Jones Industrial Average (+0.4% to 34,633) and Nasdaq Composite (+0.1% to 14,522). Other action in the stock market today: The small-cap Russell 2000 rose 0.8% to 2,329. Krispy Kreme ( DNUT ) had a disappointing start in its return to the public market, opening at $16.30 per share – lower than its initial public offering (IPO) price of $17, which was marked well below the planned range of $21 to $24 per share. The doughnut maker gained some traction during the session, though, settling right at $21.00. In other IPO news, trading app Robinhood today filed its paperwork to go public. While no date was indicated for its debut, the company will trade on the Nasdaq under the ticker "HOOD." Walgreens Boots Alliance ( WBA ) was the worst Dow stock today, sliding 7.4% after earnings. The drugstore chain reported better-than-expected adjusted profit and revenues in its fiscal third quarter and boosted its full-year guidance, due in part to increased traffic from those getting COVID-19 vaccines. Concern that slowing vaccination rates could negatively impact revenue was being cited by some as a reason for today's selloff. Gold futures tacked on 0.3% to settle at $1,776.80 an ounce. The CBOE Volatility Index (VIX) retreated 2.2% to 15.48. Bitcoin prices fell 4.9% to $33,095.95. (Bitcoin trades 24 hours a day; prices reported here are as of 4 p.m. each trading day. Story continues stock price chart 070121 YCharts What Can We Expect in Q3? Well … the past sends mixed signals. "Historically, stocks are weak during the third quarter, something to be aware of as we turn the calendar to July. The S&P 500 Index has gained only 0.7% on average during the third quarter, the worst of the calendar year," says independent broker-dealer LPL Financial. "It has closed green 62% of the time, though, in line with Q1 and Q2. The big reason why the average is worse is some spectacular crashes have taken place during this quarter. Here's the catch … stocks have gained 8 of the past 9 third quarters." Investors don't need to resign themselves to flattish returns, however. SEE MORE Hedge Funds' 25 Top Blue-Chip Stocks to Buy Now Fund investors might want to take a gander at these five mutual funds that have earned a five-star rating from research firm CFRA – a grade that suggests a high likelihood of outperforming their broader asset category over the next 12 months. You could also leave your stock-picking choices to the machines. Since the start of the year, we've been keeping an eye on stocks picked by Danel Capital's artificial intelligence platform , and it continues to build an impressive market-beating track record. The system doesn't make buy-and-hold calls, however – instead, it spies stocks it thinks can outperform over the course of a few months, making it most appropriate for those who like to mix a few small, tactical trades into their portfolios. Read on if you're curious about which stocks Danel's AI platform has its eye on for the rest of the summer. SEE MORE The 25 Best Low-Fee Mutual Funds You Can Buy You may also like Your Guide to Roth Conversions Stock Market Holidays in 2021 Great Jobs for Retirees View comments \|\| Market Wrap: Bitcoin Under Pressure Despite Improving Sentiment: Bitcoin dipped below $34,000 on Thursday as selling pressure increased into July. However, traders expect buyers to remain active above $30,000 support as sentiment improves. Positive news could limit downside moves after a volatile first half of the year. Concerns about regulatory crackdowns appear to have eased, especially as the bitcoin hashratestabilizedafter falling for 10 straight days. Thehashratedecline was mostly due to China’s shutdown of several cryptocurrency mining operations in the country. “As miners spread to other locations, they will likely choose places with secure access to cheap energy sources,” wrote Ulrik Lykke, executive director at digital asset fundARK36, in an email to CoinDesk. “As a result, hashrate will start recovering, and the network will become even more stable.” Related:Bitcoin Declines Within Range; Could Find Support at $30K Bitcoin is up about 13% year to date compared to a roughly 16% gain in the S&P 500. Cryptocurrencies: • Bitcoin(BTC) $33,238, -4.74% • Ether(ETH) $2,106.9, -6.47% Traditional markets: • S&P 500: 4317, +0.5% • Gold: $1,775.9, +0.31% • 10-year Treasury yield closed at 1.461%, compared with 1.466% on Wednesday Bitcoin’sput-call open interest ratiohas slipped to a six-month low, indicating an ebbing of bearish sentiment. Related:Bitcoin Remains Depressed as Dollar Rallies Ahead of U.S. Nonfarm Payrolls According to data tracked by options analytics platformSkew, the ratio measuring the number of open positions, or open interest in put options relative to open interest in call options, fell to 0.60 on Wednesday, a level last seen in early January. The recent decline in the put-call open interest ratio may have been fueled at least partly by a pickup in demand for calls or unwinding of long put positions, meaning an unwinding of bearish bets. Another sign of improving sentiment is the recent positive uptick in bitcoin’sfunding rate, which is the cost to fund long positions in the market for bitcoin perpetual swaps, a type of derivative in the cryptocurrency markets similar to futures contracts in traditional markets. “Funding rates represent traders’ sentiments of which position they bet on in the perpetual swaps market,”tweetedCryptoQuant on June 29. “Positive funding rates imply that many traders are bullish and long traders pay funding to short traders.” Ether has outperformed bitcoin over the past few days and technical charts suggest further upside is ahead. The ETH/BTC ratio held support at the 100-day moving average as charts signaled oversold conditions and improving momentum. The ratio declined from resistance in May, which preceded the broader crypto sell-off. The chart below shows the 90-day correlation between bitcoin and ether. The two cryptocurrencies are less correlated than a year ago despite a slight advance in co-movement over the past quarter. Analysts arelooking intothe rapid growth of stablecoins from a credit perspective. Tether, the largest stablecoin issuer, which increased total assets of the dollar-linked stablecoinUSDTto $62.8 billion on June 28, said it only holds 26.2% of its reserves in cash, fiduciary deposits, reverse repo notes and government securities, with 49.6% in commercial paper (CP), a type of short-term corporate debt. “A sudden mass redemption of USDT could affect the stability of short-term credit markets if it occurred during a period of wider selling pressure in the CP market,” credit rating agency Fitch Ratings said in a report. “These figures suggest its CP holdings may be larger than those of most prime money market funds in the U.S.,” as well as in Europe, Middle East and Africa. David Grider, lead digital asset strategist at the independent research firm Fundstrat, wrote in a separate report Thursday that pegged stablecoins “look a lot more like digital debt than digital dollars.” “Tether is essentially a big credit fund with a pool of debt assets of their own that they say cover the value,” Grider wrote. “They say most of their assets are in money market commercial paper, which if true would be relatively low-risk assets.” • DOGE drives Robinhood’s gain:Robinhood, the popular trading app for stock, options, gold and cryptocurrencies,filedfor a public offering that could be worth up to $100 million. A big chunk of that growth – 34% of the firm’s crypto transaction revenue in the first quarter – was fromDOGE(-1.26%), the memecoin that has surged in popularity this year. • Dogecoin’s fee change:A new fee structure for Dogecoin has beendesignedto reduce overall transaction fees as well as incentivize node operators to relay low-fee transactions to miners. The proposal, spearheaded by Dogecoin core developer Patrick Lodder and his team, would be implemented gradually over multiple software releases. Upon completion, the minimal relay fees from 1 DOGE would be changed to .001 DOGE. • USDC expands to Tron:CirclesaidThursday the USDC stablecoin has been added to Justin Sun’s Tron network, which will expand the stablecoin’s availability to millions of users across Asia. The update comes after CoinDesk reported Tuesday that USDC’s CENTRE consortium was considering up to 10 more blockchains. The stablecoin is currently native to four blockchains – Ethereum, Algorand, Stellar and Solana. • German Law Allowing $415B Investment Into Crypto Takes Effect • SoftBank Invests $200M in Brazil Crypto Exchange Mercado Bitcoin • Ukraine Puts CBDC On Par With Cash in New Payments Law Most digital assets on the CoinDesk 20 ended up lower on Thursday. Notable winners as of 21:00 UTC (4:00 p.m. ET): USD coin(USDC) +0.04% Notable losers: the graph(GRT) -7.65% chainlink(LINK) -6.93% algorand(ALGO) -6.25% • Bitcoin Mining Council Says Sustainable Power Mix on the Rise • Fake Covid Certificates, Stolen Vaccines Sold on Darkweb for Bitcoin \|\| Market Wrap: Bitcoin Under Pressure Despite Improving Sentiment: Bitcoin dipped below $34,000 on Thursday as selling pressure increased into July. However, traders expect buyers to remain active above $30,000 support as sentiment improves. Positive news could limit downside moves after a volatile first half of the year. Concerns about regulatory crackdowns appear to have eased, especially as the bitcoin hashratestabilizedafter falling for 10 straight days. Thehashratedecline was mostly due to China’s shutdown of several cryptocurrency mining operations in the country. “As miners spread to other locations, they will likely choose places with secure access to cheap energy sources,” wrote Ulrik Lykke, executive director at digital asset fundARK36, in an email to CoinDesk. “As a result, hashrate will start recovering, and the network will become even more stable.” Related:Bitcoin Declines Within Range; Could Find Support at $30K Bitcoin is up about 13% year to date compared to a roughly 16% gain in the S&P 500. Cryptocurrencies: • Bitcoin(BTC) $33,238, -4.74% • Ether(ETH) $2,106.9, -6.47% Traditional markets: • S&P 500: 4317, +0.5% • Gold: $1,775.9, +0.31% • 10-year Treasury yield closed at 1.461%, compared with 1.466% on Wednesday Bitcoin’sput-call open interest ratiohas slipped to a six-month low, indicating an ebbing of bearish sentiment. Related:Bitcoin Remains Depressed as Dollar Rallies Ahead of U.S. Nonfarm Payrolls According to data tracked by options analytics platformSkew, the ratio measuring the number of open positions, or open interest in put options relative to open interest in call options, fell to 0.60 on Wednesday, a level last seen in early January. The recent decline in the put-call open interest ratio may have been fueled at least partly by a pickup in demand for calls or unwinding of long put positions, meaning an unwinding of bearish bets. Another sign of improving sentiment is the recent positive uptick in bitcoin’sfunding rate, which is the cost to fund long positions in the market for bitcoin perpetual swaps, a type of derivative in the cryptocurrency markets similar to futures contracts in traditional markets. “Funding rates represent traders’ sentiments of which position they bet on in the perpetual swaps market,”tweetedCryptoQuant on June 29. “Positive funding rates imply that many traders are bullish and long traders pay funding to short traders.” Ether has outperformed bitcoin over the past few days and technical charts suggest further upside is ahead. The ETH/BTC ratio held support at the 100-day moving average as charts signaled oversold conditions and improving momentum. The ratio declined from resistance in May, which preceded the broader crypto sell-off. The chart below shows the 90-day correlation between bitcoin and ether. The two cryptocurrencies are less correlated than a year ago despite a slight advance in co-movement over the past quarter. Analysts arelooking intothe rapid growth of stablecoins from a credit perspective. Tether, the largest stablecoin issuer, which increased total assets of the dollar-linked stablecoinUSDTto $62.8 billion on June 28, said it only holds 26.2% of its reserves in cash, fiduciary deposits, reverse repo notes and government securities, with 49.6% in commercial paper (CP), a type of short-term corporate debt. “A sudden mass redemption of USDT could affect the stability of short-term credit markets if it occurred during a period of wider selling pressure in the CP market,” credit rating agency Fitch Ratings said in a report. “These figures suggest its CP holdings may be larger than those of most prime money market funds in the U.S.,” as well as in Europe, Middle East and Africa. David Grider, lead digital asset strategist at the independent research firm Fundstrat, wrote in a separate report Thursday that pegged stablecoins “look a lot more like digital debt than digital dollars.” “Tether is essentially a big credit fund with a pool of debt assets of their own that they say cover the value,” Grider wrote. “They say most of their assets are in money market commercial paper, which if true would be relatively low-risk assets.” • DOGE drives Robinhood’s gain:Robinhood, the popular trading app for stock, options, gold and cryptocurrencies,filedfor a public offering that could be worth up to $100 million. A big chunk of that growth – 34% of the firm’s crypto transaction revenue in the first quarter – was fromDOGE(-1.26%), the memecoin that has surged in popularity this year. • Dogecoin’s fee change:A new fee structure for Dogecoin has beendesignedto reduce overall transaction fees as well as incentivize node operators to relay low-fee transactions to miners. The proposal, spearheaded by Dogecoin core developer Patrick Lodder and his team, would be implemented gradually over multiple software releases. Upon completion, the minimal relay fees from 1 DOGE would be changed to .001 DOGE. • USDC expands to Tron:CirclesaidThursday the USDC stablecoin has been added to Justin Sun’s Tron network, which will expand the stablecoin’s availability to millions of users across Asia. The update comes after CoinDesk reported Tuesday that USDC’s CENTRE consortium was considering up to 10 more blockchains. The stablecoin is currently native to four blockchains – Ethereum, Algorand, Stellar and Solana. • German Law Allowing $415B Investment Into Crypto Takes Effect • SoftBank Invests $200M in Brazil Crypto Exchange Mercado Bitcoin • Ukraine Puts CBDC On Par With Cash in New Payments Law Most digital assets on the CoinDesk 20 ended up lower on Thursday. Notable winners as of 21:00 UTC (4:00 p.m. ET): USD coin(USDC) +0.04% Notable losers: the graph(GRT) -7.65% chainlink(LINK) -6.93% algorand(ALGO) -6.25% • Bitcoin Mining Council Says Sustainable Power Mix on the Rise • Fake Covid Certificates, Stolen Vaccines Sold on Darkweb for Bitcoin \|\| Market Wrap: Bitcoin Under Pressure Despite Improving Sentiment: Bitcoin dipped below $34,000 on Thursday as selling pressure increased into July. However, traders expect buyers to remain active above $30,000 support as sentiment improves. Positive news could limit downside moves after a volatile first half of the year. Concerns about regulatory crackdowns appear to have eased, especially as the bitcoin hashrate stabilized after falling for 10 straight days. The hashrate decline was mostly due to China’s shutdown of several cryptocurrency mining operations in the country. “As miners spread to other locations, they will likely choose places with secure access to cheap energy sources,” wrote Ulrik Lykke, executive director at digital asset fund ARK36 , in an email to CoinDesk. “As a result, hashrate will start recovering, and the network will become even more stable.” Related: Bitcoin Declines Within Range; Could Find Support at $30K Bitcoin is up about 13% year to date compared to a roughly 16% gain in the S&P 500. Latest prices Cryptocurrencies: Bitcoin (BTC) $33,238, -4.74% Ether (ETH) $2,106.9, -6.47% Traditional markets: S&P 500: 4317, +0.5% Gold: $1,775.9, +0.31% 10-year Treasury yield closed at 1.461%, compared with 1.466% on Wednesday Bearish sentiment wanes Bitcoin’s put-call open interest ratio has slipped to a six-month low, indicating an ebbing of bearish sentiment. Related: Bitcoin Remains Depressed as Dollar Rallies Ahead of U.S. Nonfarm Payrolls According to data tracked by options analytics platform Skew , the ratio measuring the number of open positions, or open interest in put options relative to open interest in call options, fell to 0.60 on Wednesday, a level last seen in early January. The recent decline in the put-call open interest ratio may have been fueled at least partly by a pickup in demand for calls or unwinding of long put positions, meaning an unwinding of bearish bets. Another sign of improving sentiment is the recent positive uptick in bitcoin’s funding rate , which is the cost to fund long positions in the market for bitcoin perpetual swaps, a type of derivative in the cryptocurrency markets similar to futures contracts in traditional markets. Story continues “Funding rates represent traders’ sentiments of which position they bet on in the perpetual swaps market,” tweeted CryptoQuant on June 29. “Positive funding rates imply that many traders are bullish and long traders pay funding to short traders.” Ether bounces back relative to bitcoin Ether has outperformed bitcoin over the past few days and technical charts suggest further upside is ahead. The ETH/BTC ratio held support at the 100-day moving average as charts signaled oversold conditions and improving momentum. The ratio declined from resistance in May, which preceded the broader crypto sell-off. The chart below shows the 90-day correlation between bitcoin and ether. The two cryptocurrencies are less correlated than a year ago despite a slight advance in co-movement over the past quarter. Stablecoin risks Analysts are looking into the rapid growth of stablecoins from a credit perspective. Tether, the largest stablecoin issuer, which increased total assets of the dollar-linked stablecoin USDT to $62.8 billion on June 28, said it only holds 26.2% of its reserves in cash, fiduciary deposits, reverse repo notes and government securities, with 49.6% in commercial paper (CP), a type of short-term corporate debt. “A sudden mass redemption of USDT could affect the stability of short-term credit markets if it occurred during a period of wider selling pressure in the CP market,” credit rating agency Fitch Ratings said in a report. “These figures suggest its CP holdings may be larger than those of most prime money market funds in the U.S.,” as well as in Europe, Middle East and Africa. David Grider, lead digital asset strategist at the independent research firm Fundstrat, wrote in a separate report Thursday that pegged stablecoins “look a lot more like digital debt than digital dollars.” “Tether is essentially a big credit fund with a pool of debt assets of their own that they say cover the value,” Grider wrote. “They say most of their assets are in money market commercial paper, which if true would be relatively low-risk assets.” Altcoin roundup DOGE drives Robinhood’s gain: Robinhood, the popular trading app for stock, options, gold and cryptocurrencies, filed for a public offering that could be worth up to $100 million. A big chunk of that growth – 34% of the firm’s crypto transaction revenue in the first quarter – was from DOGE (-1.26%), the memecoin that has surged in popularity this year. Dogecoin’s fee change: A new fee structure for Dogecoin has been designed to reduce overall transaction fees as well as incentivize node operators to relay low-fee transactions to miners. The proposal, spearheaded by Dogecoin core developer Patrick Lodder and his team, would be implemented gradually over multiple software releases. Upon completion, the minimal relay fees from 1 DOGE would be changed to .001 DOGE. USDC expands to Tron: Circle said Thursday the USDC stablecoin has been added to Justin Sun’s Tron network, which will expand the stablecoin’s availability to millions of users across Asia. The update comes after CoinDesk reported Tuesday that USDC’s CENTRE consortium was considering up to 10 more blockchains. The stablecoin is currently native to four blockchains – Ethereum, Algorand, Stellar and Solana. Relevant news German Law Allowing $415B Investment Into Crypto Takes Effect SoftBank Invests $200M in Brazil Crypto Exchange Mercado Bitcoin Ukraine Puts CBDC On Par With Cash in New Payments Law Other markets Most digital assets on the CoinDesk 20 ended up lower on Thursday. Notable winners as of 21:00 UTC (4:00 p.m. ET): USD coin (USDC) +0.04% Notable losers: the graph (GRT) -7.65% chainlink (LINK) -6.93% algorand (ALGO) -6.25% Related Stories Bitcoin Mining Council Says Sustainable Power Mix on the Rise Fake Covid Certificates, Stolen Vaccines Sold on Darkweb for Bitcoin \|\| Top ETF Stories of 1H 2021 & 2H Outlook: (1:00) - Equity ETFs Massive Growth (8:50) - Cathie Wood’s Ark Invest Files For Bitcoin ETF (15:20) - ARK Invest’s ETFs Rally (19:30) - Top New ETFs of 2021 (27:05) - Episode Roundup: [email protected] In this episode of ETF Spotlight, I speak with Eric Balchunas, Senior ETF Analyst at Bloomberg Intelligence, about the top ETF stories of the first half and the outlook for the second half of 2021. After a remarkable run in 2020, stocks continued their rally in the first half of 2021, defying fears about valuations and inflation. The S&P 500 index SPY gained 14.4%, its best first-half performance since 1998, the Dow Jones DIA rose 12.7% and the Nasdaq QQQ returned 12.5% during this period. More than $460 billion has flowed into ETFs so far this year, and unlike last year, most of this money went into equity ETFs. Retail investors bought each dip in the stock market, using broad market ETFs. Dimensional Fund Advisors recently converted four of its tax-managed mutual funds with about $30 billion of assets into ETFs. Eric predicts that more than $1 trillion worth of mutual fund assets could be converted into ETFs, in the coming decade. Cathie Wood’s ARK Investment filed for a bitcoin ETF this week, in partnership with 21Shares. Will we see a bitcoin ETF in 2021? Cathie’s flagship fund— ARK Innovation ETF ARKK—stumbled earlier this year, as investors rotated out of last year’s winners. It has rebounded lately and is now up about 30% from its May lows. We have seen a lot of interesting ETF launches recently, including ARK’s Space ETF ARKX and the VanEck Vectors Social Sentiment ETF BUZZ, which was promoted by Dave Portnoy. Eric likes the Engine No. 1 Transform 500 ETF VOTE and the Invesco NASDAQ Next Gen 100 ETF QQQJ among the new ETFs. For the second half of the year, he is bullish on value stocks and commodities. Tune in to the podcast to learn more. Make sure to be on the lookout for the next edition of the ETF Spotlight and remember to subscribe! If you have any comments or questions, please email [email protected]. Story continues (In full disclosure, Neena owns shares of QQQJ in the ETF Investor Portfolio.) Want key ETF info delivered straight to your inbox? Zacks’ free Fund Newsletter will brief you on top news and analysis, as well as top-performing ETFs, each week. Get it free >> Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Invesco QQQ (QQQ): ETF Research Reports SPDR S&P 500 ETF (SPY): ETF Research Reports SPDR Dow Jones Industrial Average ETF (DIA): ETF Research Reports ARK Innovation ETF (ARKK): ETF Research Reports Invesco NASDAQ Next Gen 100 ETF (QQQJ): ETF Research Reports VanEck Vectors Social Sentiment ETF (BUZZ): ETF Research Reports ARK Space Exploration & Innovation ETF (ARKX): ETF Research Reports Engine No. 1 Transform 500 ETF (VOTE): ETF Research Reports To read this article on Zacks.com click here. Zacks Investment Research \|\| Top ETF Stories of 1H 2021 & 2H Outlook: • (1:00) - Equity ETFs Massive Growth • (8:50) - Cathie Wood’s Ark Invest Files For Bitcoin ETF • (15:20) - ARK Invest’s ETFs Rally • (19:30) - Top New ETFs of 2021 • (27:05) - Episode Roundup: [email protected] In this episode of ETF Spotlight, I speak with Eric Balchunas, Senior ETF Analyst at Bloomberg Intelligence, about the top ETF stories of the first half and the outlook for the second half of 2021. After a remarkable run in 2020, stocks continued their rally in the first half of 2021, defying fears about valuations and inflation. The S&P 500 index SPY gained 14.4%, its best first-half performance since 1998, the Dow Jones DIA rose 12.7% and the Nasdaq QQQ returned 12.5% during this period. More than $460 billion has flowed into ETFs so far this year, and unlike last year, most of this money went into equity ETFs. Retail investors bought each dip in the stock market, using broad market ETFs. Dimensional Fund Advisors recently converted four of its tax-managed mutual funds with about $30 billion of assets into ETFs. Eric predicts that more than $1 trillion worth of mutual fund assets could be converted into ETFs, in the coming decade. Cathie Wood’s ARK Investment filed for a bitcoin ETF this week, in partnership with 21Shares. Will we see a bitcoin ETF in 2021? Cathie’s flagship fund— ARK Innovation ETF ARKK—stumbled earlier this year, as investors rotated out of last year’s winners. It has rebounded lately and is now up about 30% from its May lows. We have seen a lot of interesting ETF launches recently, including ARK’s Space ETF ARKX and the VanEck Vectors Social Sentiment ETF BUZZ, which was promoted by Dave Portnoy. Eric likes the Engine No. 1 Transform 500 ETF VOTE and the Invesco NASDAQ Next Gen 100 ETF QQQJ among the new ETFs. For the second half of the year, he is bullish on value stocks and commodities. Tune in to the podcast to learn more. Make sure to be on the lookout for the next edition of the ETF Spotlight and remember to subscribe! If you have any comments or questions, please email [email protected]. (In full disclosure, Neena owns shares of QQQJ in the ETF Investor Portfolio.) Want key ETF info delivered straight to your inbox? Zacks’ free Fund Newsletter will brief you on top news and analysis, as well as top-performing ETFs, each week.Get it free >> Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days.Click to get this free reportInvesco QQQ (QQQ): ETF Research ReportsSPDR S&P 500 ETF (SPY): ETF Research ReportsSPDR Dow Jones Industrial Average ETF (DIA): ETF Research ReportsARK Innovation ETF (ARKK): ETF Research ReportsInvesco NASDAQ Next Gen 100 ETF (QQQJ): ETF Research ReportsVanEck Vectors Social Sentiment ETF (BUZZ): ETF Research ReportsARK Space Exploration & Innovation ETF (ARKX): ETF Research ReportsEngine No. 1 Transform 500 ETF (VOTE): ETF Research ReportsTo read this article on Zacks.com click here.Zacks Investment Research \|\| Bitcoin drops over 5% to $33,226.36: (Reuters) - Bitcoin dropped 5.17% to $33,226.36 on Thursday, losing $1,810.87 from its previous close. The world's biggest and best-known cryptocurrency is down 48.8% from the year's high of $64,895.22 hit on April 14. Ether, the coin linked to the ethereum blockchain network, dropped 7.28% to $2,110.53 on Thursday, losing $165.81 from its previous close. (Reporting by Vishal Vivek in Bengaluru; Editing by Ramakrishnan M.) \|\| Bitcoin drops over 5% to $33,226.36: (Reuters) - Bitcoin dropped 5.17% to $33,226.36 on Thursday, losing $1,810.87 from its previous close. The world's biggest and best-known cryptocurrency is down 48.8% from the year's high of $64,895.22 hit on April 14. Ether, the coin linked to the ethereum blockchain network, dropped 7.28% to $2,110.53 on Thursday, losing $165.81 from its previous close. (Reporting by Vishal Vivek in Bengaluru; Editing by Ramakrishnan M.) \|\| Bitcoin drops over 5% to $33,226.36: (Reuters) - Bitcoin dropped 5.17% to $33,226.36 on Thursday, losing $1,810.87 from its previous close. The world's biggest and best-known cryptocurrency is down 48.8% from the year's high of $64,895.22 hit on April 14. Ether, the coin linked to the ethereum blockchain network, dropped 7.28% to $2,110.53 on Thursday, losing $165.81 from its previous close. (Reporting by Vishal Vivek in Bengaluru; Editing by Ramakrishnan M.) \|\| Stablecoins Risk a Rerun of Financial Crises Past: After all the buzz around bitcoin becoming legal tender in El Salvador, June ended with another surprising twist in the money world. In a speech , Randal K. Quarles, none other than the vice chair for Supervision of the Federal Reserve System, praised “stablecoins” and cast doubt on central bank digital currencies (CBDC). In contrast with the more cautious view advocated by another board member a month ago , Quarles hinted that, with improvements in the payments system and “properly structured stablecoins,” digital dollars may well be “superfluous.” Time to ditch CBDC plans and go all in on “stablecoins”? Marcelo M. Prates, a CoinDesk columnist, is a central bank lawyer and researcher. Related: A Gamble Inside a Gamble: Robinhood’s Wild Memestock IPO Hold your horses! “Stablecoin” is nothing but a fancy name for one of two assets that have existed for decades: electronic money or shares in money market funds. And both can only be stable with government support, either through regulation and supervision or through bailouts (I’ll come back to this shortly). To paint “stablecoins” as a product of private ingenuity that is superior to a public option for digital money fails to consider the recent history of monetary and financial crises. The basic idea behind stablecoins is simple: You find someone willing to receive your dull (although perfectly stable) dollars in exchange for something more exciting; an asset (the “coin”) that is issued digitally may work to make some payments, and can also earn you some interest in the meantime. More than that, the receiver of your dollars (and issuer of the “stablecoin”) promises you that it stands ready to exchange the “stablecoins” back to dollars on a 1:1 basis anytime you want, no losses, hassle-free. Related: Nigeria Is the Lion of Africa in Bitcoin P2P Trading Sounds great, right? But there’s a catch. The promise can only work if the stablecoin issuer properly manages the reserves, which are the dollars it received from all the people buying the stablecoins. Imagine that you pay me $100 for some coins I’ve just launched, say, 100 sambacoins. You can use the coins to stream newly released Brazilian music and, if you don’t spend them, I’ll exchange the sambacoins back to dollars at once. What should I do with the $100 to avoid breaking the promise of exchanging the sambacoins back to dollars at any time? I could keep the $100 in cash at a safe place or deposited in a checking account, ready to be withdrawn when needed. Story continues If the sambacoin is successful, and I start having more buyers, I could invest the dollars in short-term Treasurys, trusting that not all buyers will come to exchange the sambacoins back to dollars at the same time. Because Treasury bonds are typically stable in value and liquid, I could earn some (small) return and quickly sell the treasuries to meet payments when people wanted to sell me back their sambacoins. So far, so good. What if I’m feeling bold and want to make higher returns from the sambacoin reserves? I could invest the reserve dollars in other crypto assets and use them on a decentralized finance (DeFi) lending platform to earn eye-popping gains . All good, unless I start having trouble to get out of these investments and convert them back into dollars, a situation that would leave my sambacoin reserves depleted. At this point, I’ll not be able to buy back your 100 sambacoins for $100. Maybe I can give you $20 right away and, with luck, $20 more next week. That’s also the moment when you’ll probably start urging the government to step in and regulate stablecoin issuers – especially those using algorithms to keep the coin “stable.” What are the lessons here? First, no money substitute can mimic the stability of cash – either dollar bills, as they exist today, or digital dollars, as they’ll exist in the future. Cash may not come with bells and whistles but, when issued by a credible central bank, its value is stable over time, meeting the need of those who prefer safety to profit. That’s why stablecoins can only be truly stable if they are 100% backed by – you got it! – cash. Second, government’s support, in the form of regulation and supervision, is crucial for the success of privately issued stablecoins. Just look at the regulated stablecoins that already exist and have a prominent name outside the United States: electronic money. As I said in a previous column , from the European Union to Brazil, e-money issuers work like narrow banks. They are legally required to keep the cash they receive from their clients safeguarded or insured so that e-money balances (kept in prepaid cards, for example) can always be converted back to cash with no loss of value. As they are licensed and supervised entities, customers know that, aside from gross regulatory failure , their e-money is safe. In the United States, because no federal statute regulating e-money exists, stablecoin issuers are subject to state money transmitter laws and may end up regulated by 50 different regulators. The problem is that rules and regulations about segregation of clients’ funds and integrity of assets kept in reserve aren’t uniform or consistently enforced. In practice, stablecoin issuers in the United States are taking advantage of the regulatory morass to escape accountability. Stablecoin holders have to blindly trust the issuer or try to find and examine its financial disclosures by themselves. Recent examples of disclosures made by stablecoin issuers have been concerning at best and disturbing at worst . Third, private promises of stable money that go unchecked end badly – and often require the use of taxpayer money to clean up the mess. The history of money market funds in the United States is illustrative. These funds were created in the 1970s to work around interest-rate ceilings on demand deposits that were imposed by the infamous “Regulation Q.” Balances in money market funds were believed to be as safe as insured deposits but with the advantage of earning a higher interest, which was especially enticing when inflation and interest rates were rising. The assumption was that with good management, shares in these funds would always maintain a stable value of $1 per share. What seemed to be a brilliant idea ended up fueling the shadow banking system and leading to the 2007-2008 global financial crisis . To avoid even greater instability, the Federal Reserve had to backstop money market funds through the crisis and again during the coronavirus pandemic . The lessons are thus clear: Well-managed and properly regulated stablecoins may be useful for certain purposes and players, like those operating in the DeFi world . But stablecoins will never be as stable as dollars, physical or digital – and may even require a bailout when panic over broken promises spreads. Related Stories Bitcoin News Roundup for July 2, 2021 India May Have Quietly Shown Its Hand on Crypto Regulation View comments \|\| Stablecoins Risk a Rerun of Financial Crises Past: After all the buzz around bitcoin becoming legal tender in El Salvador, June ended with another surprising twist in the money world.In a speech, Randal K. Quarles, none other than the vice chair for Supervision of the Federal Reserve System, praised “stablecoins” and cast doubt on central bank digital currencies (CBDC). In contrastwith the more cautious view advocated by another board membera month ago, Quarles hinted that, with improvements in the payments system and “properly structured stablecoins,” digital dollars may well be “superfluous.” Time to ditch CBDC plans and go all in on “stablecoins”? Marcelo M. Prates, a CoinDesk columnist, is a central bank lawyer and researcher. Related:A Gamble Inside a Gamble: Robinhood’s Wild Memestock IPO Hold your horses! “Stablecoin” is nothing but a fancy name for one of two assets that have existed for decades: electronic money or shares in money market funds. And both can only be stable with government support, either through regulation and supervision or through bailouts (I’ll come back to this shortly). To paint “stablecoins” as a product of private ingenuity that is superior to a public option for digital money fails to consider the recent history of monetary and financial crises. The basic idea behind stablecoins is simple: You find someone willing to receive your dull (although perfectly stable) dollars in exchange for something more exciting; an asset (the “coin”) that is issued digitally may work to make some payments, and can also earn you some interest in the meantime. More than that, the receiver of your dollars (and issuer of the “stablecoin”) promises you that it stands ready to exchange the “stablecoins” back to dollars on a 1:1 basis anytime you want, no losses, hassle-free. Related:Nigeria Is the Lion of Africa in Bitcoin P2P Trading Sounds great, right? But there’s a catch. The promise can only work if the stablecoin issuer properly manages the reserves, which are the dollars it received from all the people buying the stablecoins. Imagine that you pay me $100 for some coins I’ve just launched, say, 100 sambacoins. You can use the coins to stream newly released Brazilian music and, if you don’t spend them, I’ll exchange the sambacoins back to dollars at once. What should I do with the $100 to avoid breaking the promise of exchanging the sambacoins back to dollars at any time? I could keep the $100 in cash at a safe place or deposited in a checking account, ready to be withdrawn when needed. If the sambacoin is successful, and I start having more buyers, I could invest the dollars in short-term Treasurys, trusting that not all buyers will come to exchange the sambacoins back to dollars at the same time. Because Treasury bonds are typically stable in value and liquid, I could earn some (small) return and quickly sell the treasuries to meet payments when people wanted to sell me back their sambacoins. So far, so good. What if I’m feeling bold and want to make higher returns from the sambacoin reserves? I could invest the reserve dollars in other crypto assets and use them on a decentralized finance (DeFi) lending platformto earn eye-popping gains. All good, unless I start having trouble to get out of these investments and convert them back into dollars, a situation that would leave my sambacoin reserves depleted. At this point, I’ll not be able to buy back your 100 sambacoins for $100. Maybe I can give you $20 right away and, with luck, $20 more next week. That’s also the moment when you’ll probably starturging the government to step in and regulate stablecoin issuers– especially those using algorithms to keep the coin “stable.” What are the lessons here? First, no money substitute can mimic the stability of cash – either dollar bills, as they exist today, or digital dollars, as they’ll exist in the future. Cash may not come with bells and whistles but, when issued by a credible central bank, its value is stable over time, meeting the need of those who prefer safety to profit. That’s why stablecoins can only be truly stable if they are 100% backed by – you got it! – cash. Second, government’s support, in the form of regulation and supervision, is crucial for the success of privately issued stablecoins. Just look at the regulated stablecoins that already exist and have a prominent name outside the United States: electronic money. As I said in a previous column, from the European Union to Brazil,e-money issuerswork like narrow banks. They are legally required to keep the cash they receive from their clients safeguarded or insured so that e-money balances (kept in prepaid cards, for example) can always be converted back to cash with no loss of value. As they are licensed and supervised entities, customers know that, aside fromgross regulatory failure, their e-money is safe. In the United States, because no federal statute regulating e-money exists, stablecoin issuers are subject to state money transmitter laws and may end up regulated by 50 different regulators. The problem is that rules and regulations about segregation of clients’ funds and integrity of assets kept in reserve aren’t uniform or consistently enforced. In practice, stablecoin issuers in the United States are taking advantage of the regulatory morass to escape accountability. Stablecoin holders have to blindly trust the issuer or try to find and examine its financial disclosures by themselves. Recent examples of disclosures made by stablecoin issuers have beenconcerning at bestanddisturbing at worst. Third, private promises of stable money that go unchecked end badly – and often require the use of taxpayer money to clean up the mess. Thehistory of money market funds in the United Statesis illustrative. These funds were created in the 1970s to work around interest-rate ceilings on demand deposits that were imposed by the infamous “Regulation Q.” Balances in money market funds were believed to be as safe as insured deposits but with the advantage of earning a higher interest, which was especially enticing when inflation and interest rates were rising. The assumption was that with good management, shares in these funds would always maintain a stable value of $1 per share. What seemed to be a brilliant idea ended upfueling the shadow banking system and leading to the 2007-2008 global financial crisis. To avoid even greater instability, the Federal Reserve had to backstop money market funds through the crisis andagain during the coronavirus pandemic. The lessons are thus clear: Well-managed and properly regulated stablecoins may be useful for certain purposes and players,like those operating in the DeFi world. But stablecoins will never be as stable as dollars, physical or digital – and may even require a bailout when panic over broken promises spreads. • Bitcoin News Roundup for July 2, 2021 • India May Have Quietly Shown Its Hand on Crypto Regulation \|\| Bitcoin drops over 5% to $33,226.36: July 1 (Reuters) - Bitcoin dropped 5.17% to $33,226.36 on Thursday, losing $1,810.87 from its previous close. The world's biggest and best-known cryptocurrency is down 48.8% from the year's high of $64,895.22 hit on April 14. Ether, the coin linked to the ethereum blockchain network, dropped 7.28% to $2,110.53 on Thursday, losing $165.81 from its previous close. (Reporting by Vishal Vivek in Bengaluru; Editing by Ramakrishnan M.) View comments \|\| Bitcoin drops over 5% to $33,226.36: July 1 (Reuters) - Bitcoin dropped 5.17% to $33,226.36 on Thursday, losing $1,810.87 from its previous close. The world's biggest and best-known cryptocurrency is down 48.8% from the year's high of $64,895.22 hit on April 14. Ether, the coin linked to the ethereum blockchain network, dropped 7.28% to $2,110.53 on Thursday, losing $165.81 from its previous close. (Reporting by Vishal Vivek in Bengaluru; Editing by Ramakrishnan M.) \|\| Bitcoin drops over 5% to $33,226.36: July 1 (Reuters) - Bitcoin dropped 5.17% to $33,226.36 on Thursday, losing $1,810.87 from its previous close. The world's biggest and best-known cryptocurrency is down 48.8% from the year's high of $64,895.22 hit on April 14. Ether, the coin linked to the ethereum blockchain network, dropped 7.28% to $2,110.53 on Thursday, losing $165.81 from its previous close. (Reporting by Vishal Vivek in Bengaluru; Editing by Ramakrishnan M.) \|\| Earnfinex – the Smart A.I-based trading platform where you earn while playing.: Thornwood, Essex, United Kingdom, July 01, 2021 (GLOBE NEWSWIRE) -- With the growing popularity of cryptocurrency, the number of people who want to invest in this fast-growing sphere has also increased. But not everyone has the desire to study in detail the characteristics of the market or enough time for exploring platforms. Traders use a variety of different trading platforms depending on their trading style and volume. There are hundreds of different trading platforms, but there isEarnfinex– the trading platform where you can earn while playing. Knowledge of trading is not essential on this platform. Users can follow top traders and use their success strategies.Earnfinexis unique for its “Copy trade” feature, where traders can sell their trading strategies to earn additional income. 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The platform holds trading competitions every day and on a weekly and monthly basis. A random reward system keeps everyone happy with rewards for three lucky winners. The main Earnfinex features are: • Copy Trade: Time-based trade, multiple trading pairs • No need to purchase a pass to participate in the Lucky draw • A.I management • Agency: Trading advisor opportunity • The secure platform with data encryption Trade with multiple pairs such are BTC/USDT or ETH/USDT, and more that will be added soon. The platform is secured with an advanced firewall and VPN. Users can also buy EFX tokens and start earning easily. EFX is a token with 2 different algorithms like POS (one of the most familiar algorithms in crypto worlds) & POV (Proof of Volume) a new algorithm that is working with Options Trading Exchange use and sold by EFX. Master Node is also an important part of the EFX and anyone can take part in it. Earnfinexhas multiple functions in one place. Start playing today. Trade, fun and earn! EFX token on Chainx.kr ICO Pantera is a strategic partner of Earnfinex and this alliance will be work togather for south-asian markets, Chainx is 1st official exchange where IEO of Earnfinex will be start from 14/07/2021 to 27/07/2021. Anyone can participate in IEO and purchase EFX token fromChainx.kr For more information, please visit: Websites: https://earnfinex.com/ Contact: [email protected] [email protected] Attachments • EFX token on Chainx.kr • Earnfinex – Get 95% Reward Per Trade • Earnfinex – Copy Trading Platform • Earnfinex – Option Trading Platform CONTACT: Media Company: Earnfinex, Media Name: Alex Mathew, Media Phone: +447401061694 Media Email: [email protected], Media URL: https://earnfinex.com/ [Social Media Buzz] None available.	34668.55, 35287.78, 33746.00, 34235.20, 33855.33, 32877.37, 33798.01, 33520.52, 34240.19, 33155.85
Given the historical Bitcoin prices from the last 90 days, predict the next 10 daily closing prices. The historical prices are: 9348.48, 9419.08, 9240.55, 9119.01, 9235.92, 9743.86, 9700.76, 9858.15, 9654.80, 9373.01, 9234.82, 9325.18, 9043.94, 8441.49, 8504.89, 8723.94, 8716.79, 8510.38, 8368.83, 8094.32, 8250.97, 8247.18, 8513.25, 8418.99, 8041.78, 7557.82, 7587.34, 7480.14, 7355.88, 7368.22, 7135.99, 7472.59, 7406.52, 7494.17, 7541.45, 7643.45, 7720.25, 7514.47, 7633.76, 7653.98, 7678.24, 7624.92, 7531.98, 6786.02, 6906.92, 6582.36, 6349.90, 6675.35, 6456.58, 6550.16, 6499.27, 6734.82, 6769.94, 6776.55, 6729.74, 6083.69, 6162.48, 6173.23, 6249.18, 6093.67, 6157.13, 5903.44, 6218.30, 6404.00, 6385.82, 6614.18, 6529.59, 6597.55, 6639.14, 6673.50, 6856.93, 6773.88, 6741.75, 6329.95, 6394.71, 6228.81, 6238.05, 6276.12, 6359.64, 6741.75, 7321.04, 7370.78, 7466.86, 7354.13, 7419.29, 7418.49, 7711.11, 8424.27, 8181.39, 7951.58.	[Bitcoin Technical Analysis for 2018-07-26] Volume: 4899089920, RSI (14-day): 65.28, 50-day EMA: 7120.52, 200-day EMA: 7917.08 [Wider Market Context] Gold Price: 1225.30, Gold RSI: 34.41 Oil Price: 69.61, Oil RSI: 49.50 [Recent News (last 7 days)] Stellar Price Continues to Moon, Sees 10% Increase in 4 hours: Bitcoin price The stellar price reached a two-month high on Wednesday evening as it soared by well over 10% on major exchanges to reach a value of $0.33 on Bitfinex. Although there did not seem to be any particular news today to trigger this spike, the cryptocurrency — more accurately referred to as lumens (XLM) — has been in the news of late with considerable positive developments. XLM’s volume also increased considerably on Binance , with over $17.5 million traded as at 10PM GMT. The development from Coinbase last week had also seen the stellar price shoot up by as much as 25% over a few days, and with today’s increase, the coin is around 40% up from its low of $0.17 registered in June. stellar price chart xlm lumens The recent move by Coinbase created a wave of positive price appreciation for the currencies, with stellar posting a gain of 22% since the news was first released. XLM fans rejoiced over the reversal in 2018’s bear cycle, which saw their coin fall nearly 85% in value since the start of the year. Additionally, the fact that the computing giant IBM is using stellar to pair with a digital stablecoin also gave a good hike to positive sentiment about XLM. In comparison, bitcoin is up by around 2% to retake the $8,200 level whilst other coins such as EOS and bitcoin cash were showing marginal improvements over the past few hours. Another positive development could have been the announcement that BitIra also added stellar to its platform. The lesser-known California-based exchange continued its steady expansion of available coins with the addition of stellar (XLM) and zcash (ZEC), which joined bitcoin (BTC), ethereum (ETH), litecoin (LTC), ripple (XRP), bitcoin cash (BCH), and ethereum classic (ETC) as investment opportunities for its customers. Finally, another interesting development was the fact that the Stellar Foundation received certification from Islamic scholars of Shariyah Review Bureau (SRB) for its blockchain network and its native token to be used in Sharia-compliant financial products. Story continues With the certification in place, Stellar — both the organization and the currency — will now have access to the vast Middle Eastern and South East Asian markets where Islamic banking and Sharia-compliant products have a strong demand. The certification also provides XLM with an advantage over rival cryptocurrency XRP — often stylized as “ripple” due to its association with the company of the same name — in the Middle East within the payments and remittances space. Featured Image from Shutterstock The post Stellar Price Continues to Moon, Sees 10% Increase in 4 hours appeared first on CCN . \|\| Stellar Price Continues to Moon, Sees 10% Increase in 4 hours: The stellar price reached a two-month high on Wednesday evening as it soared by well over 10% on major exchanges to reach a value of $0.33 on Bitfinex. Although there did not seem to be any particular news today to trigger this spike, the cryptocurrency — more accurately referred to as lumens (XLM) — has been in the news of late with considerable positive developments. XLM’s volume also increased considerably on Binance, with over $17.5 million traded as at 10PM GMT. The development from Coinbase last week had also seen the stellar price shoot up by as much as 25% over a few days, and with today’s increase, the coin is around 40% up from its low of $0.17 registered in June. Therecent moveby Coinbase created a wave of positive price appreciation for the currencies, with stellar posting a gain of 22% since the news was first released. XLM fans rejoiced over the reversal in 2018’s bear cycle, which saw their coin fall nearly 85% in value since the start of the year. Additionally, the fact that the computing giant IBM is using stellar to pair with adigital stablecoinalso gave a good hike to positive sentiment about XLM. In comparison, bitcoin is up by around 2% to retake the $8,200 level whilst other coins such as EOS and bitcoin cash were showing marginal improvements over the past few hours. Another positive development could have been the announcement that BitIra also added stellar to its platform. The lesser-known California-based exchange continued its steady expansion of available coins with the addition of stellar (XLM) and zcash (ZEC), which joined bitcoin (BTC), ethereum (ETH), litecoin (LTC), ripple (XRP), bitcoin cash (BCH), and ethereum classic (ETC) as investment opportunities for its customers. Finally, another interesting development was the fact that theStellar Foundation received certification from Islamic scholars of Shariyah Review Bureau(SRB) for its blockchain network and its native token to be used in Sharia-compliant financial products. With the certification in place, Stellar — both the organization and the currency — will now have access to the vast Middle Eastern and South East Asian markets where Islamic banking and Sharia-compliant products have a strong demand. The certification also provides XLM with an advantage over rival cryptocurrency XRP — often stylized as “ripple” due to its association with the company of the same name — in the Middle East within the payments and remittances space. Featured Image from Shutterstock The postStellar Price Continues to Moon, Sees 10% Increase in 4 hoursappeared first onCCN. \|\| Tom Lydon Talks Tech, EM, Facebook on Fox Business: This article was originally published on ETFTrends.com. Trade wars, especially between the United States and China, have not only wreaked havoc on economic superpowers, but emerging markets have also received a brunt of the punishment with ETFs like Vanguard FTSE Emerging Markets ETF ( VWO ) down 7.32% year-to-date and iShares MSCI Emerging Markets ETF ( EEM ) down 7.44% YTD. Even country-specific ETFs on the periphery are suffering as a result of trade wars-- iShares MSCI Mexico Capped ETF ( EWW ) down 3.13% YTD, iShares MSCI Brazil Capped ETF ( EWZ ) down 19.48% YTD and iShares MSCI Philippines ETF ( EPHE ) down 22.03% YTD. "We've seen areas of the world that have really gotten beaten up," said ETF Trends President Tom Lydon. "Areas like Brazil, Mexico, Malaysia, the Philippines--all because of the trade wars." The amount of red in the YTD performance numbers might scare off investors with an untrained eye, but to others, this presents a perfect buying opportunity, particularly when fundamentally analyzing each country-specific ETF. "While these areas of the world have gotten beaten up and we've got some political restructuring going on in some of these countries, take advantage of some of the sell-offs that we've seen," said Lydon. "Some of these areas of the world are still off 70, 80 percent." For broad based technology exposure, Lydon said look no further than the Invesco QQQ (NasdaqGM: QQQ). For lead-footed investors naturally inclined to step on the investment accelerator when they see green, the technology sector has been the ideal expressway to profits. For investors looking to allocate capital in tech and dip into emerging markets, the Emerging Markets Internet & Ecommerce ETF (NYSEArca: EMQQ ) provides the perfect amalgamation of the two sectors. "You can not only pick up the Ubers of the US, but you can have the Ubers of areas like India or the Amazons of Brazil," said Lydon. Facebook Slides After Hours, ETFs with FB Follow Story continues During the course of today's trading session, Facebook shares were up (almost 3.5%) prior to reporting their second-quarter earnings report with analysts expecting another solid quarter despite a massive data-harvesting scandal . "There are high expectations following Google's strongdigital ad revenue," said Tigress Financial Partners CIO Ivan Feinseth . "I think the whole focus is going to be on the growth of Instagram. Instagram has the potential to be as big as Facebook itself." However, Facebook reported its second-quarter earnings to mixed results--earnings per share were reported at $1.74 versus consensus estimates of $1.72 EPS, but the social media company missed on revenue--a reported $13.23 billion versus consensus estimates of $13.36 billion. As such, shares of Facebook fell by 24% after hours after closing the day up 1.32%. Two ETFs with the largest weightings of Facebook were already down after hours-- Communication Services Sel Sect SPDRETF ( XLC ) was down 1.41% after ending today's trading session up 0.72% while Vanguard Communication Services ETF ( VOX ) was down 0.44% after hours. For more market news, visit ETFTrends.com . POPULAR ARTICLES FROM ETFTRENDS.COM How Much Should a Fee-Only Financial Planner Charge? Reddit Co-Founder Alexis Ohanian on Bitcoin’s Bull Run Venezuela May Reach 1M Percent Inflation Rate, IMF Warns What Lies Ahead for Tesla and Elon Musk? Verizon Releases Better-Than-Expected Q2 Report READ MORE AT ETFTRENDS.COM > \|\| Tom Lydon Talks Tech, EM, Facebook on Fox Business: This article was originally published onETFTrends.com. Trade wars, especially between the United States and China, have not only wreaked havoc on economic superpowers, but emerging markets have also received a brunt of the punishment with ETFs like Vanguard FTSE Emerging Markets ETF (VWO) down 7.32% year-to-date and iShares MSCI Emerging Markets ETF (EEM) down 7.44% YTD. Even country-specific ETFs on the periphery are suffering as a result of trade wars-- iShares MSCI Mexico Capped ETF (EWW) down 3.13% YTD, iShares MSCI Brazil Capped ETF (EWZ) down 19.48% YTD and iShares MSCI Philippines ETF (EPHE) down 22.03% YTD. "We've seen areas of the world that have really gotten beaten up," said ETF Trends President Tom Lydon. "Areas like Brazil, Mexico, Malaysia, the Philippines--all because of the trade wars." The amount of red in the YTD performance numbers might scare off investors with an untrained eye, but to others, this presents a perfect buying opportunity, particularly when fundamentally analyzing each country-specific ETF. "While these areas of the world have gotten beaten up and we've got some political restructuring going on in some of these countries, take advantage of some of the sell-offs that we've seen," said Lydon. "Some of these areas of the world are still off 70, 80 percent." For broad based technology exposure, Lydon said look no further than the Invesco QQQ (NasdaqGM: QQQ). For lead-footed investors naturally inclined to step on the investment accelerator when they see green, the technology sector has been the ideal expressway to profits. For investors looking to allocate capital in tech and dip into emerging markets, the Emerging Markets Internet & Ecommerce ETF (NYSEArca:EMQQ) provides the perfect amalgamation of the two sectors. "You can not only pick up the Ubers of the US, but you can have the Ubers of areas like India or the Amazons of Brazil," said Lydon. Facebook Slides After Hours, ETFs with FB Follow During the course of today's trading session, Facebook shares were up (almost 3.5%) prior to reporting their second-quarter earnings report with analysts expecting another solid quarter despite amassive data-harvesting scandal. "There are high expectations following Google's strongdigital ad revenue,"said Tigress Financial Partners CIO Ivan Feinseth. "I think the whole focus is going to be on the growth of Instagram. Instagram has the potential to be as big as Facebook itself." However, Facebook reported its second-quarter earnings to mixed results--earnings per share were reported at $1.74 versus consensus estimates of $1.72 EPS, but the social media company missed on revenue--a reported $13.23 billion versus consensus estimates of $13.36 billion. As such, shares of Facebook fell by 24% after hours after closing the day up 1.32%. Two ETFs with the largest weightings of Facebook were already down after hours-- Communication Services Sel Sect SPDRETF (XLC) was down 1.41% after ending today's trading session up 0.72% while Vanguard Communication Services ETF (VOX) was down 0.44% after hours. For more market news, visitETFTrends.com. POPULAR ARTICLES FROM ETFTRENDS.COM • How Much Should a Fee-Only Financial Planner Charge? • Reddit Co-Founder Alexis Ohanian on Bitcoin’s Bull Run • Venezuela May Reach 1M Percent Inflation Rate, IMF Warns • What Lies Ahead for Tesla and Elon Musk? • Verizon Releases Better-Than-Expected Q2 Report READ MORE AT ETFTRENDS.COM > \|\| Facebook Just Shed More Than the Value of All Bitcoin in Existence: This year has not been kind toFacebookshareholders. The company’s stock recently completed its bounce back from the so-called Cambridge Analytica scandal. But following a mixed earnings report Wednesday, in which the company warned investors to brace for slower growth, shareholders have decided that the company is worth roughly $146.6 billion less—more than the value of all Bitcoin currently circulating: $142.3 billion. Now Facebook’s market value sits at $483 billion, with shares falling about 24% in after hours trading. For comparison, its loss in market capitalization also exceeds the amount it shed following revelations that user data had been obtained by Cambridge Analytics, a analytics firm that helped putPresident Donald Trump in the White House. In recent quarters, the company has managed to consistently beat estimates—pushing the stock ever higher, despite criticisms about its Russian-tied ads and the Cambridge Analytica scandal. But perhaps those issues are finally catching up to the company. On Wednesday, the company posted earnings per share of $1.74 on revenue of $13.04 billion for the second quarter, while analysts had anticipated gains of $1.72 on revenue of $13.36. The company’s user growth also slowed, with its global daily active users rising 1.44% to 1.47 billion—lower than its 3.42% growth in the quarter prior. What is perhaps even more disheartening to investors: Facebook also said that it expects its growth rate to be lower in the second half of this year as the company seeks to amp up on privacy. That comes as consumers grow more wary of how big tech companies are using their personal information. The European Union meanwhile introduced the General Data Protection Regulation (GDPR) in May. \|\| Facebook Just Shed More Than the Value of All Bitcoin in Existence: This year has not been kind toFacebookshareholders. The company’s stock recently completed its bounce back from the so-called Cambridge Analytica scandal. But following a mixed earnings report Wednesday, in which the company warned investors to brace for slower growth, shareholders have decided that the company is worth roughly $146.6 billion less—more than the value of all Bitcoin currently circulating: $142.3 billion. Now Facebook’s market value sits at $483 billion, with shares falling about 24% in after hours trading. For comparison, its loss in market capitalization also exceeds the amount it shed following revelations that user data had been obtained by Cambridge Analytics, a analytics firm that helped putPresident Donald Trump in the White House. In recent quarters, the company has managed to consistently beat estimates—pushing the stock ever higher, despite criticisms about its Russian-tied ads and the Cambridge Analytica scandal. But perhaps those issues are finally catching up to the company. On Wednesday, the company posted earnings per share of $1.74 on revenue of $13.04 billion for the second quarter, while analysts had anticipated gains of $1.72 on revenue of $13.36. The company’s user growth also slowed, with its global daily active users rising 1.44% to 1.47 billion—lower than its 3.42% growth in the quarter prior. What is perhaps even more disheartening to investors: Facebook also said that it expects its growth rate to be lower in the second half of this year as the company seeks to amp up on privacy. That comes as consumers grow more wary of how big tech companies are using their personal information. The European Union meanwhile introduced the General Data Protection Regulation (GDPR) in May. \|\| Facebook Just Shed More Than the Value of All Bitcoin in Existence: This year has not been kind to Facebook shareholders. The company’s stock recently completed its bounce back from the so-called Cambridge Analytica scandal. But following a mixed earnings report Wednesday, in which the company warned investors to brace for slower growth, shareholders have decided that the company is worth roughly $146.6 billion less—more than the value of all Bitcoin currently circulating: $142.3 billion. Now Facebook’s market value sits at $483 billion, with shares falling about 24% in after hours trading. For comparison, its loss in market capitalization also exceeds the amount it shed following revelations that user data had been obtained by Cambridge Analytics, a analytics firm that helped put President Donald Trump in the White House . In recent quarters, the company has managed to consistently beat estimates—pushing the stock ever higher, despite criticisms about its Russian-tied ads and the Cambridge Analytica scandal. But perhaps those issues are finally catching up to the company. On Wednesday, the company posted earnings per share of $1.74 on revenue of $13.04 billion for the second quarter, while analysts had anticipated gains of $1.72 on revenue of $13.36. The company’s user growth also slowed, with its global daily active users rising 1.44% to 1.47 billion—lower than its 3.42% growth in the quarter prior. What is perhaps even more disheartening to investors: Facebook also said that it expects its growth rate to be lower in the second half of this year as the company seeks to amp up on privacy. That comes as consumers grow more wary of how big tech companies are using their personal information. The European Union meanwhile introduced the General Data Protection Regulation (GDPR) in May. \|\| Is Bitcoin Surging on ETF Approval Prospects?: Bitcoin is one of the most talked-about assets for the last one year, either for a good or bad reason. It was the hottest trade in 2017 but had a bad start to this year on overvaluation concerns, excessive red tape, several central bank warnings about the currency’s worthiness and reports of hacking on a cryptocurrency exchange. In mid-June, bitcoin plunged to as low as $5848.26 from late December’s high of $19343.04, marking a decline of about 69.8%. However, this cryptocurrency rebounded lately to above $8000, representing a 40% jump in July, on hopes that the SEC could approve an ETF soon. Renewed Prospects of ETF Launches Bitwise Asset Management lately filed for an index fund that intends to follow the performance of a basket of the 10 largest cryptocurrencies. The product, namely the Bitwise HOLD 10 Cryptocurrency Index Fund, is likely to give exposure to about 80% of the market capitalization of the total cryptocurrency market. The best part of this proposed fund is that it looks to offer a more diversified exposure than investing in a one particular coin. The index included bitcoin, ethereum, Ripple, bitcoin cash, Litecoin, Stellar Lumens, Dash, Monero, Zcash and Ethereum Classic as of June, per an article published on etf.com. Recently, another money management firm VanEck made renewed efforts for a bitcoin exchange-traded product launch. In its third attempt, the company has collaborated with blockchain company SolidX. The plan is to make the product physical and not futures based. This means the product will hold actual bitcoin, which will be “insured against any loss or theft.” How Far is SEC From an Approval? Hopes were high about a probable bitcoin ETF debut this year since December 2017, when Cboe Global Markets launched three bitcoin futures contracts on the Cboe Futures Exchange. But SEC has so far been stringent on ETF launches. SEC is worried about extreme price volatility in cryptocurrencies and liquidity in bitcoin-related funds. Several central banks issued warnings against it. South Korea, which makes up about 20% of global bitcoin trading, created a government department last week targeted at formulating policy initiatives around financial technology and cryptocurrencies. All in all, things are still vague as the SEC said in June that it would require time until Aug 23 and Sep 15 to consider two rule changes, “regarding Bitcoin funds from ProShares and GraniteShares respectively -- and said last week that it would need until Sep 21 to evaluate another change for several Direxion-branded ETFs,” if we go by an article published on Bloomberg. Are There Any Bitcoin Investing ETF Alternatives Around? There are Blockchain ETFs available in the market, namelyReality Shares Nasdaq NexGen Economy ETFBLCN,Amplify Transformational Data Sharing ETFBLOK andFirst Trust Indxx Innovative Transaction & Process ETFLEGR. These funds look to track a portfolio of stocks from companies that are deemed to have strong exposure to blockchain technology development. But issuers are not allowed to use the word “blockchain” in the name (read: Forget Bitcoin, Bet on Blockchain With These New ETFs). As per a source, “the blockchain in Bitcoin literally acts a ledger; it keeps track of the balances for all users and updates them as money changes hands.” So, if investors are not getting a bitcoin ETF now, they can definitely be in touch with the concept through blockchain ETFs. Want key ETF info delivered straight to your inbox? Zacks’ free Fund Newsletter will brief you on top news and analysis, as well as top-performing ETFs, each week. Get it free >> Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days.Click to get this free reportAMP-TFR DAT SHR (BLOK): ETF Research ReportsREALT-NDQ NEXGN (BLCN): ETF Research ReportsFT-INDXX INN TP (LEGR): ETF Research ReportsTo read this article on Zacks.com click here.Zacks Investment ResearchWant the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report \|\| Is Bitcoin Surging on ETF Approval Prospects?: Bitcoin is one of the most talked-about assets for the last one year, either for a good or bad reason. It was the hottest trade in 2017 but had a bad start to this year on overvaluation concerns, excessive red tape, several central bank warnings about the currency’s worthiness and reports of hacking on a cryptocurrency exchange. In mid-June, bitcoin plunged to as low as $5848.26 from late December’s high of $19343.04, marking a decline of about 69.8%. However, this cryptocurrency rebounded lately to above $8000, representing a 40% jump in July, on hopes that the SEC could approve an ETF soon. Renewed Prospects of ETF Launches Bitwise Asset Management lately filed for an index fund that intends to follow the performance of a basket of the 10 largest cryptocurrencies. The product, namely the Bitwise HOLD 10 Cryptocurrency Index Fund, is likely to give exposure to about 80% of the market capitalization of the total cryptocurrency market. The best part of this proposed fund is that it looks to offer a more diversified exposure than investing in a one particular coin. The index included bitcoin, ethereum, Ripple, bitcoin cash, Litecoin, Stellar Lumens, Dash, Monero, Zcash and Ethereum Classic as of June, per an article published on etf.com. Recently, another money management firm VanEck made renewed efforts for a bitcoin exchange-traded product launch. In its third attempt, the company has collaborated with blockchain company SolidX. The plan is to make the product physical and not futures based. This means the product will hold actual bitcoin, which will be “insured against any loss or theft.” How Far is SEC From an Approval? Hopes were high about a probable bitcoin ETF debut this year since December 2017, when Cboe Global Markets launched three bitcoin futures contracts on the Cboe Futures Exchange. But SEC has so far been stringent on ETF launches. SEC is worried about extreme price volatility in cryptocurrencies and liquidity in bitcoin-related funds. Several central banks issued warnings against it. South Korea, which makes up about 20% of global bitcoin trading, created a government department last week targeted at formulating policy initiatives around financial technology and cryptocurrencies. All in all, things are still vague as the SEC said in June that it would require time until Aug 23 and Sep 15 to consider two rule changes, “regarding Bitcoin funds from ProShares and GraniteShares respectively -- and said last week that it would need until Sep 21 to evaluate another change for several Direxion-branded ETFs,” if we go by an article published on Bloomberg. Are There Any Bitcoin Investing ETF Alternatives Around? There are Blockchain ETFs available in the market, namelyReality Shares Nasdaq NexGen Economy ETFBLCN,Amplify Transformational Data Sharing ETFBLOK andFirst Trust Indxx Innovative Transaction & Process ETFLEGR. These funds look to track a portfolio of stocks from companies that are deemed to have strong exposure to blockchain technology development. But issuers are not allowed to use the word “blockchain” in the name (read: Forget Bitcoin, Bet on Blockchain With These New ETFs). As per a source, “the blockchain in Bitcoin literally acts a ledger; it keeps track of the balances for all users and updates them as money changes hands.” So, if investors are not getting a bitcoin ETF now, they can definitely be in touch with the concept through blockchain ETFs. Want key ETF info delivered straight to your inbox? Zacks’ free Fund Newsletter will brief you on top news and analysis, as well as top-performing ETFs, each week. Get it free >> Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days.Click to get this free reportAMP-TFR DAT SHR (BLOK): ETF Research ReportsREALT-NDQ NEXGN (BLCN): ETF Research ReportsFT-INDXX INN TP (LEGR): ETF Research ReportsTo read this article on Zacks.com click here.Zacks Investment ResearchWant the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report \|\| Is Bitcoin Surging on ETF Approval Prospects?: Bitcoin is one of the most talked-about assets for the last one year, either for a good or bad reason. It was the hottest trade in 2017 but had a bad start to this year on overvaluation concerns, excessive red tape, several central bank warnings about the currencys worthiness and reports of hacking on a cryptocurrency exchange. In mid-June, bitcoin plunged to as low as $5848.26 from late Decembers high of $19343.04, marking a decline of about 69.8%. However, this cryptocurrency rebounded lately to above $8000, representing a 40% jump in July, on hopes that the SEC could approve an ETF soon. Renewed Prospects of ETF Launches Bitwise Asset Management lately filed for an index fund that intends to follow the performance of a basket of the 10 largest cryptocurrencies. The product, namely the Bitwise HOLD 10 Cryptocurrency Index Fund, is likely to give exposure to about 80% of the market capitalization of the total cryptocurrency market. The best part of this proposed fund is that it looks to offer a more diversified exposure than investing in a one particular coin. The index included bitcoin, ethereum, Ripple, bitcoin cash, Litecoin, Stellar Lumens, Dash, Monero, Zcash and Ethereum Classic as of June, per an article published on etf.com. Recently, another money management firm VanEck made renewed efforts for a bitcoin exchange-traded product launch. In its third attempt, the company has collaborated with blockchain company SolidX. The plan is to make the product physical and not futures based. This means the product will hold actual bitcoin, which will be insured against any loss or theft. How Far is SEC From an Approval ? Hopes were high about a probable bitcoin ETF debut this year since December 2017, when Cboe Global Markets launched three bitcoin futures contracts on the Cboe Futures Exchange. But SEC has so far been stringent on ETF launches. SEC is worried about extreme price volatility in cryptocurrencies and liquidity in bitcoin-related funds. Several central banks issued warnings against it. South Korea, which makes up about 20% of global bitcoin trading, created a government department last week targeted at formulating policy initiatives around financial technology and cryptocurrencies. Story continues All in all, things are still vague as the SEC said in June that it would require time until Aug 23 and Sep 15 to consider two rule changes, regarding Bitcoin funds from ProShares and GraniteShares respectively -- and said last week that it would need until Sep 21 to evaluate another change for several Direxion-branded ETFs, if we go by an article published on Bloomberg. Are There Any Bitcoin Investing ETF Alternatives Around? There are Blockchain ETFs available in the market, namely Reality Shares Nasdaq NexGen Economy ETF BLCN, Amplify Transformational Data Sharing ETF BLOK and First Trust Indxx Innovative Transaction & Process ETF LEGR. These funds look to track a portfolio of stocks from companies that are deemed to have strong exposure to blockchain technology development. But issuers are not allowed to use the word blockchain in the name (read: Forget Bitcoin, Bet on Blockchain With These New ETFs). As per a source, the blockchain in Bitcoin literally acts a ledger; it keeps track of the balances for all users and updates them as money changes hands. So, if investors are not getting a bitcoin ETF now, they can definitely be in touch with the concept through blockchain ETFs. Want key ETF info delivered straight to your inbox? Zacks free Fund Newsletter will brief you on top news and analysis, as well as top-performing ETFs, each week. Get it free >> Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report AMP-TFR DAT SHR (BLOK): ETF Research Reports REALT-NDQ NEXGN (BLCN): ETF Research Reports FT-INDXX INN TP (LEGR): ETF Research Reports To read this article on Zacks.com click here. Zacks Investment Research Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report \|\| A Brand New No-Fee Crypto Trading Option: Cryptocurrency traders will soon have a major new no-fee trading option. On Wednesday, Voyager announced plans to offer commission-free trading for at least 15 major cryptocurrencies in the near future. What Happened? Voyager is a startup with a long list of deep-pocketed investors, including Uber co-founder Oscar Salazar. The company intends to take on Robinhood , the current market leader in no-fee crypto trading. Voyager can forgo trading fees by taking advantage of price discrepancies in the crypto markets,according to Voyager CEO Stephen Ehrlich. We saw an opportunity to build a dynamic smart order router that can take advantage of the marketplace and also offer customers no commissions, Ehrlich said in an interview with Fortune. Why It's Important Voyager will be listing crypto prices from 10 currency exchanges and three additional market makers and said it will be able to provide better prices for customers than they would pay by directly using a single exchange such as Coinbase or Binance. Voyager will initially offer around 15 major cryptocurrencies, the majority of which will come from the list of most valuable currencies by market capitalization. The top five currencies in todays market include bitcoin , Ethereum, XRP, Bitcoin Cash and EOS. What's Next Voyager may not be available everywhere in the U.S. in the near future. The company is obtaining the necessary licenses on a state-by-state basis, but is already approved to operate in California, Massachusetts, Missouri, New Hampshire and Montana. Bitcoin and other cryptocurrency investors have had a rough year so far in 2018 after last year's market boom. The Bitcoin Investment Trust (OTC: GBTC ) is down 47 percent in 2018. Related Links: NFL All-Pro Richard Sherman Talks Cryptocurrencies, Cobinhood This Technical Indicator Suggests Bitcoin's Rally May Be Overbought See more from Benzinga This Technical Indicator Suggests Bitcoin's Rally May Be Overbought This Week In Cryptocurrency: Bannon Bullish, BlackRock Curious, MLB And Ethereum Bitcoin's Technicals Look Strong, But Should Bulls Celebrate Just Yet? © 2018 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. \|\| A Brand New No-Fee Crypto Trading Option: Cryptocurrency traders will soon have a major new no-fee trading option. On Wednesday, Voyager announced plans to offer commission-free trading for at least 15 major cryptocurrencies in the near future. What Happened? Voyager is a startup with a long list of deep-pocketed investors, including Uber co-founder Oscar Salazar. The company intends to take onRobinhood, the current market leader in no-fee crypto trading. Voyager can forgo trading fees by taking advantage of price discrepancies in the crypto markets,according to Voyager CEO Stephen Ehrlich. “We saw an opportunity to build a dynamic smart order router that can take advantage of the marketplace and also offer customers no commissions,” Ehrlich said in an interview with Fortune. Why It's Important Voyager will be listing crypto prices from 10 currency exchanges and three additional market makers and said it will be able to provide better prices for customers than they would pay by directly using a single exchange such as Coinbase or Binance. Voyager will initially offer around 15 major cryptocurrencies, the majority of which will come from the list of most valuable currencies by market capitalization. The top five currencies in today’s market includebitcoin, Ethereum, XRP, Bitcoin Cash and EOS. What's Next Voyager may not be available everywhere in the U.S. in the near future. The company is obtaining the necessary licenses on a state-by-state basis, but is already approved to operate in California, Massachusetts, Missouri, New Hampshire and Montana. Bitcoin and other cryptocurrency investors have had a rough year so far in 2018 after last year's market boom. TheBitcoin Investment Trust(OTC:GBTC) is down 47 percent in 2018. Related Links: NFL All-Pro Richard Sherman Talks Cryptocurrencies, Cobinhood This Technical Indicator Suggests Bitcoin's Rally May Be Overbought See more from Benzinga • This Technical Indicator Suggests Bitcoin's Rally May Be Overbought • This Week In Cryptocurrency: Bannon Bullish, BlackRock Curious, MLB And Ethereum • Bitcoin's Technicals Look Strong, But Should Bulls Celebrate Just Yet? © 2018 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. \|\| SEC Puts Off Decision on 5 Bitcoin ETFs Till September 2018: The U.S. Securities and Exchange Commission (SEC) has postponed the review of Bitcoin ETFs proposed by investment firm Direxion Asset Management, as it needs more time to study the proposal before reaching a final decision. In the July 24, 2018,editionof the Federal Register, the SEC said it was postponing its decision on the five ETFs till September 21, 2018. The five ETFs, which were filed in January, include Direxion Daily Bitcoin Bear 1X Shares, Direxion Daily Bitcoin 1.25X Bull Shares, Direxion Daily Bitcoin 1.5X Bull Shares, Direxion Daily Bitcoin 2X Bull Shares, and Direxion Daily Bitcoin 2X Bear Shares. The statement reads, “The Commission finds it appropriate to designate a longer period within which to issue an order approving or disapproving the proposed rule change so that it has sufficient time to consider this proposed rule change. Accordingly, the Commission … designates September 21, 2018, as the date by which the Commission shall either approve or disapprove the proposed rule change.” According to the provisions of the SEC's enabling Act, the commission is expected to give its decision within “180 days after the date of publication of notice of filing of the proposed rule change.” The publication date was on January 24, 2018, and the decision was due on July 23, 2018. The Act, however, makes room for an extension period of "not more than 60 days" for additional study before reaching a final decision on the proposal. The New York Stock Exchange (NYSE) submitted the ETF proposal in question to the SEC on January 4, 2018. Thefilingindicates an opportunity for investors to "obtain daily short, leveraged long or leveraged short exposure to the lead month bitcoin futures contract" traded on the Chicago Mercantile Exchange (CME) or the Cboe Global Markets (CBOE), or any U.S. exchange “that subsequently trades bitcoin futures contracts.” The ETF proposal from Direxion is just one of the many awaiting approval by the SEC. Last month, the CBOE submitted a joint ETF proposal byVanEckand SolidX, who are planning to list a physically-backed bitcoin fund. In a recentletterissued by VanEck to the SEC, the company made a case for the fund’s approval, which has been shoring upsupportsincecommentswere opened to the public. The letter went on to allay some concerns the SEC had about manipulation by stating that the bitcoin ETF would be regulated the same way bitcoin futures are, "under the well-established" Commodity Futures Trading Commission supervised framework. While the SEC is taking its time to consider the VanEck proposal, there are rumors in the crypto community that suggest the ETF's potential approval as a contributed to bitcoin's recent bull run. Bitcoin has surged above $8,000 for the first time since May,tradingat $8,125.86 at press time. This article originally appeared onBitcoin Magazine. \|\| SEC Puts Off Decision on 5 Bitcoin ETFs Till September 2018: The U.S. Securities and Exchange Commission (SEC) has postponed the review of Bitcoin ETFs proposed by investment firm Direxion Asset Management, as it needs more time to study the proposal before reaching a final decision. In the July 24, 2018,editionof the Federal Register, the SEC said it was postponing its decision on the five ETFs till September 21, 2018. The five ETFs, which were filed in January, include Direxion Daily Bitcoin Bear 1X Shares, Direxion Daily Bitcoin 1.25X Bull Shares, Direxion Daily Bitcoin 1.5X Bull Shares, Direxion Daily Bitcoin 2X Bull Shares, and Direxion Daily Bitcoin 2X Bear Shares. The statement reads, “The Commission finds it appropriate to designate a longer period within which to issue an order approving or disapproving the proposed rule change so that it has sufficient time to consider this proposed rule change. Accordingly, the Commission … designates September 21, 2018, as the date by which the Commission shall either approve or disapprove the proposed rule change.” According to the provisions of the SEC's enabling Act, the commission is expected to give its decision within “180 days after the date of publication of notice of filing of the proposed rule change.” The publication date was on January 24, 2018, and the decision was due on July 23, 2018. The Act, however, makes room for an extension period of "not more than 60 days" for additional study before reaching a final decision on the proposal. The New York Stock Exchange (NYSE) submitted the ETF proposal in question to the SEC on January 4, 2018. Thefilingindicates an opportunity for investors to "obtain daily short, leveraged long or leveraged short exposure to the lead month bitcoin futures contract" traded on the Chicago Mercantile Exchange (CME) or the Cboe Global Markets (CBOE), or any U.S. exchange “that subsequently trades bitcoin futures contracts.” The ETF proposal from Direxion is just one of the many awaiting approval by the SEC. Last month, the CBOE submitted a joint ETF proposal byVanEckand SolidX, who are planning to list a physically-backed bitcoin fund. In a recentletterissued by VanEck to the SEC, the company made a case for the fund’s approval, which has been shoring upsupportsincecommentswere opened to the public. The letter went on to allay some concerns the SEC had about manipulation by stating that the bitcoin ETF would be regulated the same way bitcoin futures are, "under the well-established" Commodity Futures Trading Commission supervised framework. While the SEC is taking its time to consider the VanEck proposal, there are rumors in the crypto community that suggest the ETF's potential approval as a contributed to bitcoin's recent bull run. Bitcoin has surged above $8,000 for the first time since May,tradingat $8,125.86 at press time. This article originally appeared onBitcoin Magazine. \|\| SEC Puts Off Decision on 5 Bitcoin ETFs Till September 2018: SEC on 5 ETFs September The U.S. Securities and Exchange Commission (SEC) has postponed the review of Bitcoin ETFs proposed by investment firm Direxion Asset Management, as it needs more time to study the proposal before reaching a final decision. In the July 24, 2018, edition of the Federal Register, the SEC said it was postponing its decision on the five ETFs till September 21, 2018. The five ETFs, which were filed in January, include Direxion Daily Bitcoin Bear 1X Shares, Direxion Daily Bitcoin 1.25X Bull Shares, Direxion Daily Bitcoin 1.5X Bull Shares, Direxion Daily Bitcoin 2X Bull Shares, and Direxion Daily Bitcoin 2X Bear Shares. The statement reads, “The Commission finds it appropriate to designate a longer period within which to issue an order approving or disapproving the proposed rule change so that it has sufficient time to consider this proposed rule change. Accordingly, the Commission … designates September 21, 2018, as the date by which the Commission shall either approve or disapprove the proposed rule change.” According to the provisions of the SEC's enabling Act, the commission is expected to give its decision within “180 days after the date of publication of notice of filing of the proposed rule change.” The publication date was on January 24, 2018, and the decision was due on July 23, 2018. The Act, however, makes room for an extension period of "not more than 60 days" for additional study before reaching a final decision on the proposal. The New York Stock Exchange (NYSE) submitted the ETF proposal in question to the SEC on January 4, 2018. The filing indicates an opportunity for investors to "obtain daily short, leveraged long or leveraged short exposure to the lead month bitcoin futures contract" traded on the Chicago Mercantile Exchange (CME) or the Cboe Global Markets (CBOE), or any U.S. exchange “that subsequently trades bitcoin futures contracts.” The ETF proposal from Direxion is just one of the many awaiting approval by the SEC. Last month, the CBOE submitted a joint ETF proposal by VanEck and SolidX, who are planning to list a physically-backed bitcoin fund. Story continues In a recent letter issued by VanEck to the SEC, the company made a case for the fund’s approval, which has been shoring up support since comments were opened to the public. The letter went on to allay some concerns the SEC had about manipulation by stating that the bitcoin ETF would be regulated the same way bitcoin futures are, "under the well-established" Commodity Futures Trading Commission supervised framework. While the SEC is taking its time to consider the VanEck proposal, there are rumors in the crypto community that suggest the ETF's potential approval as a contributed to bitcoin's recent bull run. Bitcoin has surged above $8,000 for the first time since May, trading at $8,125.86 at press time. This article originally appeared on Bitcoin Magazine . \|\| Wall Street Traded $572 Million in Bitcoin Futures During Tuesday’s Bull Run: The bitcoin price is rallying, and this time, it looks like Wall Street has shown up to the party. On Tuesday,bitcoinbrief briefly broached the $8,500 threshold on Bitfinex for the first time since mid-May, and while it has since pulled back several hundred dollars from that two-month high, it has nevertheless risen 10 percent in the past week and 29 percent over the course of a month. As noted by Mati Greenspan, a senior market analyst ateToro, this rally was fueled in the spot markets by the usual suspects — traders in Japan and South Korea — who provided a surge of volume to help push the bitcoin price past key levels. “According to the volume on exchanges, it seems clear that the rally is being led by East Asia,” Greenspan wrote in commentary provided to CCN. “The US Dollar had a spike as well but it was much more focused. Meaning that the Americans only participated during the extreme part of the surge and less in the before and after party.” That’s not to say that the U.S. was absent from the rally. In fact, Greenspan said, trading data from Chicago-based. derivatives exchanges CME and CBOE — the only two regulated U.S. exchanges to listbitcoin futures— suggests that Wall Street wants a piece of the action. Tuesday trading volume on CME reached 12,878 contracts across all expiration dates, worth an equivalent 64,390 BTC (each contract represents 5 BTC). CBOE traders exchanged 7,138 contracts, each equivalent to 1 BTC, bringing total U.S. bitcoin futures volume to 71,528 BTC. At $8,000 per coin — the mean of Tuesday’s opening and settlement price in CME’s August futures market — this translates into a daily volume of $572.2 million. That volume is still minor relative to the global cryptocurrency marketplace, however. The worldwide bitcoin spot market saw more than $7.7 billion in volume on Tuesday, according to CoinMarketCap. Moreover, Hong Kong-based cryptocurrency margin trading platform BitMEXreportedthat it saw a record 1 million XBT contracts traded during a 24-hour period on Tuesday, worth more than $8 billion. The vast majority of this — more than $7 billion — was concentrated in XBT/USD markets. Nevertheless, this uptick in bitcoin futures volume could serve as another in agrowing listofdata pointsandanecdotesthat suggest Wall Street is beginning to make a strategic entry into this nascent ecosystem. Featured Image from Shutterstock The postWall Street Traded $572 Million in Bitcoin Futures During Tuesday’s Bull Runappeared first onCCN. \|\| Wall Street Traded $572 Million in Bitcoin Futures During Tuesday’s Bull Run: bitcoin futures The bitcoin price is rallying, and this time, it looks like Wall Street has shown up to the party. On Tuesday, bitcoin brief briefly broached the $8,500 threshold on Bitfinex for the first time since mid-May, and while it has since pulled back several hundred dollars from that two-month high, it has nevertheless risen 10 percent in the past week and 29 percent over the course of a month. bitcoin price As noted by Mati Greenspan, a senior market analyst at eToro , this rally was fueled in the spot markets by the usual suspects — traders in Japan and South Korea — who provided a surge of volume to help push the bitcoin price past key levels. “According to the volume on exchanges, it seems clear that the rally is being led by East Asia,” Greenspan wrote in commentary provided to CCN. “The US Dollar had a spike as well but it was much more focused. Meaning that the Americans only participated during the extreme part of the surge and less in the before and after party.” That’s not to say that the U.S. was absent from the rally. In fact, Greenspan said, trading data from Chicago-based. derivatives exchanges CME and CBOE — the only two regulated U.S. exchanges to list bitcoin futures — suggests that Wall Street wants a piece of the action. Bitcoin futures hit record volume of 12,878 contracts on Tuesday, equivalent to 64,390 bitcoins with a notional value of $530M. Learn more about #Bitcoin futures. https://t.co/AIsPztBU6V pic.twitter.com/7RIRL2qZ3A — CMEGroup (@CMEGroup) July 25, 2018 Tuesday trading volume on CME reached 12,878 contracts across all expiration dates, worth an equivalent 64,390 BTC (each contract represents 5 BTC). CBOE traders exchanged 7,138 contracts, each equivalent to 1 BTC, bringing total U.S. bitcoin futures volume to 71,528 BTC. At $8,000 per coin — the mean of Tuesday’s opening and settlement price in CME’s August futures market — this translates into a daily volume of $572.2 million. Story continues That volume is still minor relative to the global cryptocurrency marketplace, however. The worldwide bitcoin spot market saw more than $7.7 billion in volume on Tuesday, according to CoinMarketCap. Moreover, Hong Kong-based cryptocurrency margin trading platform BitMEX reported that it saw a record 1 million XBT contracts traded during a 24-hour period on Tuesday, worth more than $8 billion. The vast majority of this — more than $7 billion — was concentrated in XBT/USD markets. Nevertheless, this uptick in bitcoin futures volume could serve as another in a growing list of data points and anecdotes that suggest Wall Street is beginning to make a strategic entry into this nascent ecosystem. Featured Image from Shutterstock The post Wall Street Traded $572 Million in Bitcoin Futures During Tuesday’s Bull Run appeared first on CCN . \|\| Wall Street Traded $572 Million in Bitcoin Futures During Tuesday’s Bull Run: The bitcoin price is rallying, and this time, it looks like Wall Street has shown up to the party. On Tuesday,bitcoinbrief briefly broached the $8,500 threshold on Bitfinex for the first time since mid-May, and while it has since pulled back several hundred dollars from that two-month high, it has nevertheless risen 10 percent in the past week and 29 percent over the course of a month. As noted by Mati Greenspan, a senior market analyst ateToro, this rally was fueled in the spot markets by the usual suspects — traders in Japan and South Korea — who provided a surge of volume to help push the bitcoin price past key levels. “According to the volume on exchanges, it seems clear that the rally is being led by East Asia,” Greenspan wrote in commentary provided to CCN. “The US Dollar had a spike as well but it was much more focused. Meaning that the Americans only participated during the extreme part of the surge and less in the before and after party.” That’s not to say that the U.S. was absent from the rally. In fact, Greenspan said, trading data from Chicago-based. derivatives exchanges CME and CBOE — the only two regulated U.S. exchanges to listbitcoin futures— suggests that Wall Street wants a piece of the action. Tuesday trading volume on CME reached 12,878 contracts across all expiration dates, worth an equivalent 64,390 BTC (each contract represents 5 BTC). CBOE traders exchanged 7,138 contracts, each equivalent to 1 BTC, bringing total U.S. bitcoin futures volume to 71,528 BTC. At $8,000 per coin — the mean of Tuesday’s opening and settlement price in CME’s August futures market — this translates into a daily volume of $572.2 million. That volume is still minor relative to the global cryptocurrency marketplace, however. The worldwide bitcoin spot market saw more than $7.7 billion in volume on Tuesday, according to CoinMarketCap. Moreover, Hong Kong-based cryptocurrency margin trading platform BitMEXreportedthat it saw a record 1 million XBT contracts traded during a 24-hour period on Tuesday, worth more than $8 billion. The vast majority of this — more than $7 billion — was concentrated in XBT/USD markets. Nevertheless, this uptick in bitcoin futures volume could serve as another in agrowing listofdata pointsandanecdotesthat suggest Wall Street is beginning to make a strategic entry into this nascent ecosystem. Featured Image from Shutterstock The postWall Street Traded $572 Million in Bitcoin Futures During Tuesday’s Bull Runappeared first onCCN. \|\| Have All Nvidia (NVDA) Rumors Already Been Priced In?: The latest developments in the Nvidia NVDA rumor mill arrived Monday after YouTube hardware commentator “Gamer Meld” posted a video showing what he claims is an email from one of Nvidia’s “major board partners.” It contains details about the firm’s upcoming “Turing” GeForce GTX Series 11 GPU. Rumor Has It The email mentions at least four Turing models, and claims the following release dates: • Nvidia GeForce GTX 1180 (August 30th) • Nvidia GeForce GTX 1180+ (September 30th) • Nvidia GeForce GTX 1170 (September 30th) • Nvidia GeForce GTX 1160 (October 30th) The release of this new line of graphics cards was delayed due to a glut in Series 10 cards, according to the email. Nvidia supposedly planned to first lower supplies of older cards before announcing and releasing its new product line. Nvidia typically schedules the release of its cards on a Tuesday or Thursday, a trend that two of the three alleged dates align with (September 30thfalls on a Sunday). It should be emphasized that this information only comes from one source. However, the story has since been picked up and circulated byPCGamer,Wccftech,TechRadar, and other similar publications. Investors should note that CEO Jensen Huang stated in early June that Nvidia’s new GPUs would not come out for “a long time from now,” which was the last official update. But a growing number of sources are corroborating a late-summer release. Industry insiders noted during Taiwan Semiconductor’s TSM earnings release that heightened shipments of Nvidia’s Series 11 GPU would serve as a catalyst for the firm. Assuming the release does happen, how can we expect NVDA shares to perform? We’ll need to go back in time, to get a better idea. What’s Already Priced In? It took Nvidia over three years for its shares to go from IPO levels of around $1.60 in 1999 to then-peak $22.30 at the end of 2001. Nearly five years later it would reach that peak again, and another ten years after that, in 2016, it would finally surpass that point comfortably. Since then, the Nvidia rocket ship hasn’t paused for even a simple refueling, as we can see below: NVIDIA Corporation Price, Consensus and EPS Surprise \| NVIDIA Corporation Quote From the beginning of 2016 until now, Nvidia has soared over 660% to reach current levels of about $250 per share. Although the first two months of 2016 were quiet, growth was sparked by three strong earnings beats thanks to strong performances in its gaming, professional visualization, datacenter, and auto segments. The company released its “Pascal” GeForce GTX Series 10 GPU that same year, and in the ensuing two years has been unable to keep up with demand from gamers, crypto miners, and AI researchers. This drove GPU prices up dramatically, hurting retail consumers but helping Nvidia reach unprecedented levels of revenue. But in recent months, demand has cooled as popular cryptocurrencies such as Bitcoin and Etherium saw large drop-offs. Still, Bitcoin has regained 15% this week on the back of renewed investor optimism. There has been encouraging global regulatory development and news that big banks are looking to develop exposure to the crypto industry. New Goldman Sachs GS CEO David Solomon said as recently as last month that his company is looking to expand its crypto services right now (also read: Here’s Why Bitcoin Has Gained 15% This Week). This is important because while crypto-related purchases account for only a portion of Nvidia’s sales, it could be in the midst of building toward another major bullish run. With a new lineup of cards on the horizon, Nvidia is well-positioned to not only capitalize on this market, but continue to expand its presence in big data, automotive research, and the worldwide PC gaming market, which is growing at a CAGR of 10%. Nvidia’s GPU business generated 84% of its fiscal 2018 revenue. Shares of Nvidia have gained over 10% in the last three months and 3% in the last four weeks, reflecting similar optimism across the market. But while it may seem to investors that these growth catalysts are already priced in, this may not necessarily be the case. Outlook With a Price/Sales ratio of 14.2 over the last twelve months, Nvidia is trading at a significant premium to the 5.5 average across the “Semi-General” market. But at the same time, it has averaged a 40.1% earnings surprise over the last four quarters, and has posted a positive, double-digit surprise for the last nine quarters. The release of a new graphics card line is to Nvidia what a brand-new iPhone is to Apple AAPL, except potentially even more pronounced since it has been over two years since Pascal’s debut. Nvidia is not a “cheap” stock per se, but has enough potential and momentum behind it to remain a compelling investment option. Investors may want to wait for more tangible news on the Turing line, but should remain aware of the possibility that good news could send shares of Nvidia skyrocketing even farther. Turing could also potentially miss inflated market expectations, meaning that this investment, like any other, isn’t guaranteed to leave investors in the black. Still, given Nvidia’s history and recent news, this seems like an unlikely possibility. More Stock News: This Is Bigger than the iPhone!It could become the mother of all technological revolutions. Apple sold a mere 1 billion iPhones in 10 years but a new breakthrough is expected to generate more than 27 billion devices in just 3 years, creating a $1.7 trillion market.Zacks has just released a Special Report that spotlights this fast-emerging phenomenon and 6 tickers for taking advantage of it. If you don't buy now, you may kick yourself in 2020.Click here for the 6 trades >> Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days.Click to get this free reportApple Inc. (AAPL) : Free Stock Analysis ReportThe Goldman Sachs Group, Inc. (GS) : Free Stock Analysis ReportNVIDIA Corporation (NVDA) : Free Stock Analysis ReportTaiwan Semiconductor Manufacturing Company Ltd. (TSM) : Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment Research \|\| Have All Nvidia (NVDA) Rumors Already Been Priced In?: The latest developments in the Nvidia NVDA rumor mill arrived Monday after YouTube hardware commentator Gamer Meld posted a video showing what he claims is an email from one of Nvidias major board partners. It contains details about the firms upcoming Turing GeForce GTX Series 11 GPU. Rumor Has It The email mentions at least four Turing models, and claims the following release dates: Nvidia GeForce GTX 1180 (August 30 th ) Nvidia GeForce GTX 1180+ (September 30 th ) Nvidia GeForce GTX 1170 (September 30 th ) Nvidia GeForce GTX 1160 (October 30 th ) The release of this new line of graphics cards was delayed due to a glut in Series 10 cards, according to the email. Nvidia supposedly planned to first lower supplies of older cards before announcing and releasing its new product line. Nvidia typically schedules the release of its cards on a Tuesday or Thursday, a trend that two of the three alleged dates align with (September 30 th falls on a Sunday). It should be emphasized that this information only comes from one source. However, the story has since been picked up and circulated by PCGamer , Wccftech , TechRadar , and other similar publications. Investors should note that CEO Jensen Huang stated in early June that Nvidias new GPUs would not come out for a long time from now, which was the last official update. But a growing number of sources are corroborating a late-summer release. Industry insiders noted during Taiwan Semiconductors TSM earnings release that heightened shipments of Nvidias Series 11 GPU would serve as a catalyst for the firm. Assuming the release does happen, how can we expect NVDA shares to perform? Well need to go back in time, to get a better idea. Whats Already Priced In? It took Nvidia over three years for its shares to go from IPO levels of around $1.60 in 1999 to then-peak $22.30 at the end of 2001. Nearly five years later it would reach that peak again, and another ten years after that, in 2016, it would finally surpass that point comfortably. Since then, the Nvidia rocket ship hasnt paused for even a simple refueling, as we can see below: Story continues NVIDIA Corporation Price, Consensus and EPS Surprise NVIDIA Corporation Price, Consensus and EPS Surprise \| NVIDIA Corporation Quote From the beginning of 2016 until now, Nvidia has soared over 660% to reach current levels of about $250 per share. Although the first two months of 2016 were quiet, growth was sparked by three strong earnings beats thanks to strong performances in its gaming, professional visualization, datacenter, and auto segments. The company released its Pascal GeForce GTX Series 10 GPU that same year, and in the ensuing two years has been unable to keep up with demand from gamers, crypto miners, and AI researchers. This drove GPU prices up dramatically, hurting retail consumers but helping Nvidia reach unprecedented levels of revenue. But in recent months, demand has cooled as popular cryptocurrencies such as Bitcoin and Etherium saw large drop-offs. Still, Bitcoin has regained 15% this week on the back of renewed investor optimism. There has been encouraging global regulatory development and news that big banks are looking to develop exposure to the crypto industry. New Goldman Sachs GS CEO David Solomon said as recently as last month that his company is looking to expand its crypto services right now (also read: Heres Why Bitcoin Has Gained 15% This Week). This is important because while crypto-related purchases account for only a portion of Nvidias sales, it could be in the midst of building toward another major bullish run. With a new lineup of cards on the horizon, Nvidia is well-positioned to not only capitalize on this market, but continue to expand its presence in big data, automotive research, and the worldwide PC gaming market, which is growing at a CAGR of 10%. Nvidias GPU business generated 84% of its fiscal 2018 revenue. Shares of Nvidia have gained over 10% in the last three months and 3% in the last four weeks, reflecting similar optimism across the market. But while it may seem to investors that these growth catalysts are already priced in, this may not necessarily be the case. Outlook With a Price/Sales ratio of 14.2 over the last twelve months, Nvidia is trading at a significant premium to the 5.5 average across the Semi-General market. But at the same time, it has averaged a 40.1% earnings surprise over the last four quarters, and has posted a positive, double-digit surprise for the last nine quarters. The release of a new graphics card line is to Nvidia what a brand-new iPhone is to Apple AAPL, except potentially even more pronounced since it has been over two years since Pascals debut. Nvidia is not a cheap stock per se, but has enough potential and momentum behind it to remain a compelling investment option. Investors may want to wait for more tangible news on the Turing line, but should remain aware of the possibility that good news could send shares of Nvidia skyrocketing even farther. Turing could also potentially miss inflated market expectations, meaning that this investment, like any other, isnt guaranteed to leave investors in the black. Still, given Nvidias history and recent news, this seems like an unlikely possibility. More Stock News: This Is Bigger than the iPhone! It could become the mother of all technological revolutions. Apple sold a mere 1 billion iPhones in 10 years but a new breakthrough is expected to generate more than 27 billion devices in just 3 years, creating a $1.7 trillion market. Zacks has just released a Special Report that spotlights this fast-emerging phenomenon and 6 tickers for taking advantage of it. If you don't buy now, you may kick yourself in 2020. Click here for the 6 trades >> Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Apple Inc. (AAPL) : Free Stock Analysis Report The Goldman Sachs Group, Inc. (GS) : Free Stock Analysis Report NVIDIA Corporation (NVDA) : Free Stock Analysis Report Taiwan Semiconductor Manufacturing Company Ltd. (TSM) : Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research [Social Media Buzz] 1H 2018/07/26 14:00 (2018/07/26 13:00) LONG : 27983.47 BTC (+96.28 BTC) SHORT : 19519.53 BTC (+29.83 BTC) LS比 : 58% vs 41% (58% vs 41%) \|\| 2018年07月27日 01:00 [DOGE建] 1XP=0.004108円 24時間の最高値 0.0049293円 24時間の最安値 0.0030674円 [BTC建] 1XP=0.0090986円 24時間の最高値 0.0092386円 24時間の最安値 0.0089053円時価総額ランキング: 450 位 / 全 799 中 #XP $XP \|\| 24H 2018/07/27 05:00 (2018/07/26 05:00) LONG : 28308.82 BTC (+646.69 BTC) SHORT : 19044.51 BTC (-581 BTC) LS比 : 59% vs 40% (58% vs 41%) \|\| Gana $45,00 Usd Por Afiliar, Quieres...	8165.01, 8192.15, 8218.46, 8180.48, 7780.44, 7624.91, 7567.15, 7434.39, 7032.85, 7068.48
Given the historical Bitcoin prices from the last 90 days, predict the next 10 daily closing prices. The historical prices are: 653.76, 657.59, 678.30, 688.31, 689.65, 714.48, 701.86, 700.97, 729.79, 740.83, 688.70, 703.23, 703.42, 711.52, 703.13, 709.85, 723.27, 715.53, 716.41, 705.05, 702.03, 705.02, 711.62, 744.20, 740.98, 751.59, 751.62, 731.03, 739.25, 751.35, 744.59, 740.29, 741.65, 735.38, 732.03, 735.81, 735.60, 745.69, 756.77, 777.94, 771.16, 773.87, 758.70, 764.22, 768.13, 770.81, 772.79, 774.65, 769.73, 780.09, 780.56, 781.48, 778.09, 784.91, 790.83, 790.53, 792.71, 800.88, 834.28, 864.54, 921.98, 898.82, 896.18, 907.61, 933.20, 975.92, 973.50, 961.24, 963.74, 998.33, 1021.75, 1043.84, 1154.73, 1013.38, 902.20, 908.59, 911.20, 902.83, 907.68, 777.76, 804.83, 823.98, 818.41, 821.80, 831.53, 907.94, 886.62, 899.07, 895.03, 921.79.	[Bitcoin Technical Analysis for 2017-01-21] Volume: 111158000, RSI (14-day): 54.91, 50-day EMA: 861.15, 200-day EMA: 719.50 [Wider Market Context] None available. [Recent News (last 7 days)] Giuliani as Trump's cybersecurity adviser is an unfunny joke: I had just finishedhacking the Gibsonwhen I heard the news: Rudy Giuliani, the guy who said he was gonnasolve cybersecurity, had just beennamed Trump's cyber adviser. I hopped onto our hacker mafia's government-proof encrypted chat app to make sure everyone knew that we were in real trouble. When I got no response from Mr. Robot or Anonymous, I got my rollerblades on and got out of my mom's basement as fast as possible. I dialed our ringleader with a secret, anti-authority encrypted phone app while hacking all the traffic lights between here and his mom's basement as I raced over. When he picked up I blurted, "Stop hacking baby monitors and trying to crash the stock market!" He yelled, "What?!" I realized I'd forgotten to take my balaclava off! I shouted that Big Rudy was the new hacker sheriff in town, and all us hackers were gonna have to go underground. Tears spilled down the front of my ninja costume as I wobbled on my 'blades, telling him our days of taking out the internet for lulz and raking in piles of Bitcoin from ransomed AOL accounts was over. In reality, we have plenty of reasons to worry. Before Rudy Giuliani was named Donald Trump's official presidential cybersecurity adviser, the former New York City mayor had made a number of things crystal clear about his intentions toward hackers and the cybersecurity industry. For one, he'd been pretty up front about the fact that he got into cybersecurity dealmakingfor the money. Giuliani was emphatic over many years and at every opportunity that he was going to be the guy to "solve cybersecurity." Hacking, he said on several occasions, waslike cancer. It was the worst word he could think of to call information security research. And finally, he never wavered from his belief that hackers were not onlylike the mafia, but that they could never, ever be trusted -- especially "reformed" hackers. Giuliani always made sure that people knew he couldn't be fooled by that principle of the justice system. All his talk of hackers as permanent criminals spreading cancer has no doubt bolstered the beliefs of conservatives in Trump's extreme right pocket, who didn't need help imagining pedophiles and lawless balaclava-wearing basement dwellers (or Asians in faraway hives). Like most things we've seen come out of Trump's surreal fright show, Giuliani's working hard to encourage that people and press wallow in these manipulative, lurid fantasies. That's why most hackers and infosec professionals found it all kinds of disturbing that Trump will be using Giuliani as his go-to for advice on all things cyber. It's not just that hecounts one of his qualifications as the fact that he's given over 300 speecheson how everyone's ignoring the scourge of hacking. Giuliani's not great at following advice when it comes to security. When he was advised against moving New York City's emergency services into the World Trade Center because it wasn't a good call, he did it anyway. Right before 9/11. It didn't make anyone in the infosec sectors feel better when Giuliani announced he would be forming a cybersecurity team for the president-elect. Rudy isn't exactly a team player when it comes to computer-security matters. When the NYPD commissioner built a "computer statistics" system for crime, Giuliani did the equivalent of having him banished -- forcing him out -- toprevent credit going to anyone but Giuliani. According to the Trump transition team'sofficial announcement, Rudy's team will advise the leader of the free world on issues "concerning private sector cybersecurity problems and emerging solutions developing in the private sector." Things only got worse when, the minute the announcement was made, infosec denizens didimpromptu security assessmentsof Gulianisecurity.com and Gulianipartners.com. Both servers were described as having sat for years with theequivalent of a "hack me" sign on them-- meaning that both were likely hacked long ago. Thelaundry listof years-old unpatched vulnerabilities, nearly two dozen active exploits, andoverall security failureswas astonishing. Team Giuliani didn't respond to all the public attention around the nearly-comic website security failings of both sites. By January 14th, both Gulianisecurity.com and Gulianipartners.com suddenly failed to resolve in DNS, making both sites unavailable to the public. But, as of this writing, the server addresses remained (just visit http://209.238.99.227/), showing that whoever attempted to pull the sites only removed the DNS entry -- but left Giuliani's vulnerable servers online. Whether or not Giuliani manages those servers himself is beside the point: This is the worst possible resume anyone in this position could have. It's embarrassing and avoidable and displays a blatant disregard for even the most basic cybersecurity practices. It is the behavior of someone who carelessly believes he is an exception to the rules everyone else must live by. It sends a terrible message to an industry struggling for both legitimacy and a voice with regard to US policy, and in every way possible. Giuliani has been interested in cybersecurity sincehe read an FBI report in 2003predicting a hacking crimewave, and instantly decided he needed to build a business around it. That business was Giuliani Partners, a security consulting company. His naming to Trump's post comes one week after Giuliani Partners announced itsnew partnership with Blackberry. The recently released Blackberry Secure platform will provide the underlying software for Giuliani Partners' cybersecurity-consulting product, whatever that will be. Under these auspices, the future of cybersecurity policy looks dark. Given how much Giuliani hates hackers and believes he's the king of cops, we can probably expect to see the cyber version of "stop and frisk" coming out of Trump's inevitably opportunistic Giuliani-led Cybersecurity Working Group. It's clear the new powers-that-be don't think very highly of hackers and hacking. Nor do they understand the subtleties of how hackers are actually the entire underpinning of infosec, let alone how important it is to this sector that someone like Giuliani models even the most basic website security. By Giuliani saying stupid things about infosec while pretending entire hacking communities didn't just call out his own cybersecurity as literally the worst possible ever, he's a complete hypocrite for even stepping into the ring. And if there's anything that gets exposed faster and louder than an anti-gay senator on Grindr, it's hypocrisy in security. This is a business and culture that believes the teeny-tiniest details really matter and has witnessed firsthand that one careless step can topple businesses and ruin lives. Unlike Rudy Giuliani, the people in cybersecurity have dedicated everything to giving a shit about getting things right. So if Giuliani and his sideshow of opportunists want to think of hackers as some kind of criminal cancer, they're doomed from the start. Thought pieces by armchair infosec pundits cantry to tell usGiuliani should be taken seriously in this role all they want. But I can't think of doing anything worse for the future of cybersecurity right now. Images: Craig F. Walker/The Boston Globe via Getty Images (Lead image); United Artists/Getty Images (Hackers movie still); REUTERS/Mike Segar (Giuliani and Trump). \|\| Giuliani as Trump's cybersecurity adviser is an unfunny joke: I had just finished hacking the Gibson when I heard the news: Rudy Giuliani, the guy who said he was gonna solve cybersecurity , had just been named Trump's cyber adviser . I hopped onto our hacker mafia's government-proof encrypted chat app to make sure everyone knew that we were in real trouble. When I got no response from Mr. Robot or Anonymous, I got my rollerblades on and got out of my mom's basement as fast as possible. I dialed our ringleader with a secret, anti-authority encrypted phone app while hacking all the traffic lights between here and his mom's basement as I raced over. When he picked up I blurted, "Stop hacking baby monitors and trying to crash the stock market!" He yelled, "What?!" I realized I'd forgotten to take my balaclava off! I shouted that Big Rudy was the new hacker sheriff in town, and all us hackers were gonna have to go underground. Tears spilled down the front of my ninja costume as I wobbled on my 'blades, telling him our days of taking out the internet for lulz and raking in piles of Bitcoin from ransomed AOL accounts was over. In reality, we have plenty of reasons to worry. Before Rudy Giuliani was named Donald Trump's official presidential cybersecurity adviser, the former New York City mayor had made a number of things crystal clear about his intentions toward hackers and the cybersecurity industry. For one, he'd been pretty up front about the fact that he got into cybersecurity dealmaking for the money . Giuliani was emphatic over many years and at every opportunity that he was going to be the guy to " solve cybersecurity. " Hacking, he said on several occasions, was like cancer . It was the worst word he could think of to call information security research. And finally, he never wavered from his belief that hackers were not only like the mafia , but that they could never, ever be trusted -- especially "reformed" hackers. Giuliani always made sure that people knew he couldn't be fooled by that principle of the justice system. Story continues All his talk of hackers as permanent criminals spreading cancer has no doubt bolstered the beliefs of conservatives in Trump's extreme right pocket, who didn't need help imagining pedophiles and lawless balaclava-wearing basement dwellers (or Asians in faraway hives). Like most things we've seen come out of Trump's surreal fright show, Giuliani's working hard to encourage that people and press wallow in these manipulative, lurid fantasies. That's why most hackers and infosec professionals found it all kinds of disturbing that Trump will be using Giuliani as his go-to for advice on all things cyber. It's not just that he counts one of his qualifications as the fact that he's given over 300 speeches on how everyone's ignoring the scourge of hacking. Giuliani's not great at following advice when it comes to security. When he was advised against moving New York City's emergency services into the World Trade Center because it wasn't a good call, he did it anyway. Right before 9/11. It didn't make anyone in the infosec sectors feel better when Giuliani announced he would be forming a cybersecurity team for the president-elect. Rudy isn't exactly a team player when it comes to computer-security matters. When the NYPD commissioner built a "computer statistics" system for crime, Giuliani did the equivalent of having him banished -- forcing him out -- to prevent credit going to anyone but Giuliani . According to the Trump transition team's official announcement , Rudy's team will advise the leader of the free world on issues "concerning private sector cybersecurity problems and emerging solutions developing in the private sector." Things only got worse when, the minute the announcement was made, infosec denizens did impromptu security assessments of Gulianisecurity.com and Gulianipartners.com. Both servers were described as having sat for years with the equivalent of a "hack me" sign on them -- meaning that both were likely hacked long ago. The laundry list of years-old unpatched vulnerabilities, nearly two dozen active exploits, and overall security failures was astonishing. Team Giuliani didn't respond to all the public attention around the nearly-comic website security failings of both sites. By January 14th, both Gulianisecurity.com and Gulianipartners.com suddenly failed to resolve in DNS, making both sites unavailable to the public. But, as of this writing, the server addresses remained (just visit http://209.238.99.227/), showing that whoever attempted to pull the sites only removed the DNS entry -- but left Giuliani's vulnerable servers online. Whether or not Giuliani manages those servers himself is beside the point: This is the worst possible resume anyone in this position could have. It's embarrassing and avoidable and displays a blatant disregard for even the most basic cybersecurity practices. It is the behavior of someone who carelessly believes he is an exception to the rules everyone else must live by. It sends a terrible message to an industry struggling for both legitimacy and a voice with regard to US policy, and in every way possible. Giuliani has been interested in cybersecurity since he read an FBI report in 2003 predicting a hacking crimewave, and instantly decided he needed to build a business around it. That business was Giuliani Partners, a security consulting company. His naming to Trump's post comes one week after Giuliani Partners announced its new partnership with Blackberry . The recently released Blackberry Secure platform will provide the underlying software for Giuliani Partners' cybersecurity-consulting product, whatever that will be. Under these auspices, the future of cybersecurity policy looks dark. Given how much Giuliani hates hackers and believes he's the king of cops, we can probably expect to see the cyber version of "stop and frisk" coming out of Trump's inevitably opportunistic Giuliani-led Cybersecurity Working Group. It's clear the new powers-that-be don't think very highly of hackers and hacking. Nor do they understand the subtleties of how hackers are actually the entire underpinning of infosec, let alone how important it is to this sector that someone like Giuliani models even the most basic website security. By Giuliani saying stupid things about infosec while pretending entire hacking communities didn't just call out his own cybersecurity as literally the worst possible ever, he's a complete hypocrite for even stepping into the ring. And if there's anything that gets exposed faster and louder than an anti-gay senator on Grindr, it's hypocrisy in security. This is a business and culture that believes the teeny-tiniest details really matter and has witnessed firsthand that one careless step can topple businesses and ruin lives. Unlike Rudy Giuliani, the people in cybersecurity have dedicated everything to giving a shit about getting things right. So if Giuliani and his sideshow of opportunists want to think of hackers as some kind of criminal cancer, they're doomed from the start. Thought pieces by armchair infosec pundits can try to tell us Giuliani should be taken seriously in this role all they want. But I can't think of doing anything worse for the future of cybersecurity right now. Images: Craig F. Walker/The Boston Globe via Getty Images (Lead image); United Artists/Getty Images (Hackers movie still); REUTERS/Mike Segar (Giuliani and Trump). \|\| Bill Gates' Stock Portfolio: - By Ben Reynolds (Published Jan. 20 by Bob Ciura) Bill Gates ( Trades , Portfolio ) is the richest man in the world. The Bill & Melinda Gates Foundation has a massive $18.5 billion endowment. Warning! GuruFocus has detected 4 Warning Sign with BRK.A. Click here to check it out. BRK.A 15-Year Financial Data The intrinsic value of BRK.A Peter Lynch Chart of BRK.A That kind of wealth is something of which the vast majority of us can only dream. However, there is one similarity between the everyday investor and the wealthiest person on the planet: We're all looking for good stocks to buy and hold for the long term. Gates is a personal friend of Warren Buffett ( Trades , Portfolio ) so it's no surprise to see the Bill & Melinda Gates Foundation take a similar approach to investing as the Oracle of Omaha. You can see Buffett's top 20 high-yield dividend stocks analyzed here. The Bill & Melinda Gates Foundation owns several highly profitable companies with sustainable competitive advantages. Many of the stocks also pay dividends to shareholders and grow their dividend payouts over time. Without further ado, here are the top 16 stocks held by the Bill & Melinda Gates Foundation. No. 1: Berkshire Hathaway Dividend yield: N/A. Percentage of Gates' portfolio: 58%. Price-earnings (P/E) ratio: 17. Berkshire Hathaway Inc. (NYSE:BRK.A)(NYSE:BRK.B) stock takes up the majority of Gates' investment portfolio, and it is easy to see why. It's safe to say the money is in good hands. Berkshire, under Buffett's stewardship, grew from a struggling textile manufacturer into one of the largest conglomerates in the world. Since Berkshire's current management team took the helm 51 years ago, the company's per-share book value rose from $19 to $155,501, a rate of 19.2% compounded annually. Today, Berkshire is a global giant. It owns and operates dozens of businesses with a hand in nearly every major industry including insurance, railroads, energy, finance, manufacturing and retailing. Story continues A breakdown of Berkshire's various operating segments is as follows: Sales and Services (51% of revenue). Insurance Premiums (20% of revenue). Railroad, Utilities, and Energy (19% of revenue). Interest, Dividend, and Other Investment Income (2% of revenue). Financial Product Sales (3% of revenue). Investment and Derivatives (5% of revenue). In Berkshire's annual letters to shareholders, Buffett typically evaluates the company's performance in terms of book value. Book value is an accounting metric that measures a company's assets minus its liabilities. The resulting difference is a company's book value. This is a proxy for the intrinsic value of a firm, which Buffett believes to be the most important financial metric. Over the past five years, Berkshire has done a great job growing assets faster than liabilities, which builds shareholder wealth. BRKA Growth Source: 2015 Annual Report, page 36 Berkshire doesn't pay a dividend to shareholders. Buffett and his partner Charlie Munger (Trades, Portfolio) have always contended that they can create wealth at a higher rate than the dividend would provide to shareholders. There are few managers who can say that and get away with it, but Buffett and Munger might be the only two who can. While Berkshire stock may not be attractive for investors who want dividend income, there are few companies that have a track record nearly as successful as Berkshire. No. 2: Waste Management Dividend yield: 2.4%. Percentage of Gates' portfolio: 6.5%. P/E ratio: 27. Waste Management Inc. ( WM ) is the embodiment of a company with a wide economic moat. It operates in waste removal and recycling services. This is a highly concentrated industry with only a few companies controlling the majority of the market. Waste Management services many different industry groups, which are organized as follows: Collection (55% of revenue). Landfill (19% of revenue). Transfer (9% of revenue). Recycling (8% of revenue). Other (9% of revenue). The company is performing well. Over the first three quarters of 2016, revenue and earnings per share increased 3.6% and 8.8%. Waste Management operates in a stable and necessary industry. Waste removal is extremely capital intensive and is subject to significant regulatory oversight. These competitive advantages allow Waste Management to generate steady profits even when the U.S. economy enters recession. WM Essential Source: JPMorgan Industrials Conference presentation, page 14 Waste Management's high margins and consistent cash flow put the company in a strong financial position. It has reduced its debt significantly in the past several years. WM Debt Source: JPMorgan Industrials Conference presentation, page 17 With less debt to worry about, there is more cash flow left over each year. It uses this cash flow to invest in the business and for shareholder cash returns. WM Capital Allocation Source: JP Morgan Industrials Conference presentation, page On Dec. 15, the company raised its dividend by 4% and added $750 million to its share repurchase program. Waste Management is a Dividend Achiever. Dividend Achievers are companies that have raised dividends for 10 years or more. You can see the entire list of all 272 Dividend Achievers here. For its part, Waste Management has increased its dividend for 14 consecutive years. The stock currently has a 2.5% dividend yield. Waste Management isn't a cheap stock. Its share price has soared over the past several years. But it still has an above-average dividend yield, and the company is growing. No. 3: Canadian National Railway Dividend yield: 1.6%. Percentage of Gates' portfolio: 6.1%. P/E ratio: 20. Canadian National Railway ( CNI ) is the only transcontinental railway in North America. It has a massive network, which includes more than 19,000 miles that spans Canada and the U.S. CNI Network Source: Investor Presentation, page 7 The company offers a full range of services including rail, intermodal, trucking, warehousing and distribution. Canadian National has an excellent business. From 2011 to 2015, it grew revenue and adjusted earnings per share at a 9% and 16% compound annual rate. It generated this growth from executing a number of operational strategies. First, it placed focus on improving productivity. CNI Productivity Source: Investor Presentation, page 9 This has allowed the company to boost volumes and revenue. Furthermore, Canadian National produces industry-leading margins, thanks to its lean cost structure. CNI Cost Source: Investor Presentation, page 12 One factor negatively impacting the company right now is that it is exposed to commodities, specifically coal. Coal revenue declined 32% in the third quarter, year over year. Moreover, revenue for energy and mining fell 13% and 20% last quarter. That being said, the company's diverse customer base and operational excellence more than offset the declines in its commodity-based segments. Canadian National's operating expenses declined 7% last quarter. Operating ratio reached a record 53.3% last quarter. Free cash flow over the first three quarters of 2016 remained steady with the same nine-month period in 2015. The company expects to post flat adjusted earnings per share in 2016. This in itself would be a notable accomplishment given the steep declines in oil and coal shipments. With its hefty margins, Canadian National generates significant cash flow, and its shareholder-friendly management actively deploys this cash flow to investors. Dividends per share have nearly doubled in that same five-year period. The company is one of the best dividend growth stocks in Canada. Canadian National certainly isn't a flashy business. Railroads may be overlooked by many investors for being boring, but Canadian National's shareholder returns prove that boring can be beautiful. No. 4: Caterpillar Dividend yield: 3.3%. Percentage of Gates' portfolio: 5.4%. P/E ratio: 31 (forward P/E ratio). Caterpillar ( CAT ) is a strong brand with a dominant industry position. It manufactures heavy machinery, mostly to the construction and mining sectors. 2016 was a year to forget for Caterpillar. The sharp downturn in precious metals prices weighed heavily on demand for heavy machinery. For example, Caterpillar's earnings per share fell by nearly half in the third quarter. CAT Third Quarter Source: Credit Suisse Industrials Conference presentation, page 4 Separately Caterpillar is being negatively impacted by slowing growth in emerging markets and the strong U.S. dollar. As a result, full-year revenue is expected to decline 29% in 2016. These headwinds are expected to persist in 2017 although there is potential for a recovery. CAT Forecast Source: Credit Suisse Industrials Conference presentation, page 7 Fortunately, there may be a light at the end of the tunnel. There are hopes that Caterpillar will return to growth in 2017. One catalyst could be a renewed emphasis on fiscal stimulus in the U.S. The incoming administration may pursue policies to stimulate the U.S. economy. This could include more infrastructure spending and perhaps a push for more lax regulations on the energy and mining industries, which are among Caterpillar's biggest customers. Separately higher commodity prices would be a major boost. In the meantime, investors are paid well to wait for Caterpillar's turnaround to materialize, and the company enjoys economies of scale. This provides it with the financial flexibility to cut costs so that it can maintain its dividend. Caterpillar forecasts over $1 billion in cost savings this year alone, mostly in manufacturing and headcount reductions. The company may not raise its dividend until economic conditions improve, but its solid 3.3% dividend yield is secure. No. 5: Walmart Stores Dividend yield: 3%. Percentage of Gates' portfolio: 4.5%. P/E ratio: 15. Walmart is another great example of a company with durable competitive advantages. It is the largest retailer in the world with annual revenue of approximately $500 billion. The company came to dominate the retail industry by keeping a laserlike focus on reducing costs everywhere, particularly in supply chain and distribution. This allowed Walmart to offer consistently lower prices than its competitors ever could. In turn, it steadily devoured market share until it became the giant it is today. Walmart's growth has slowed over the past year. The company is investing billions to pay higher wages, and renovate its stores. This will limit Walmart's earnings growth. As a result, some might assume Walmart's best days are behind it. After all, a behemoth as large as Walmart will naturally have difficulty continuing to grow at a rapid pace. But there are still growth catalysts for the company to look forward to, specifically in e-commerce and small stores. Walmart acquired Jet.com for $3 billion to boost its e-commerce business, especially in emerging markets like China. WMT Jet Source: Investor Community Meeting presentation, page 4 E-commerce revenue growth accelerated throughout the year. In the third fiscal quarter, e-commerce sales increased 20.6% year over year. Domestic growth is starting to pick up again, thanks to e-commerce and also Walmart's small-store franchise. The company's Neighborhood Markets small-store banner grew comparable sales by 5.2% last quarter, well above the 1.2% companywide growth rate. Walmart remains highly profitable and very resistant to recessions. Consumers tend to scale down to discount retail when times are tight, which is why Walmart continued to grow, even during the Great Recession. This allows Walmart to pay a solid 3% dividend yield and raise its dividend each year like clockwork. Walmart has raised its dividend for 43 years in a row. Its long history of dividend growth qualifies Walmart as a Dividend Aristocrat, a group of companies in the Standard & Poor's 500 that have raised dividends for at least 25 consecutive years. You can see the entire list of all 50 Dividend Aristocrats here. The stock has an appealing P/E ratio of 14. No. 6: Ecolab Dividend yield: 1.3%. Percentage of Gates' portfolio: 2.9%. P/E ratio: 32. Ecolab ( ECL ) is a commercial cleaning products firm. It operates in three segments: Global Industrial (36% of revenue). Global Institutional (35% of revenue). Global Energy (23% of revenue). Other (6% of revenue). The Other category includes pest elimination and equipment care. The Global Industrial group provides water treatment, cleaning and sanitation services to large industrial firms. The industrial customer base is made up primarily of food and beverage, manufacturing, chemical and mining companies. The Global Institutional business services specialized products and services to the foodservice, hospitality, lodging, health care and retail industries. This segment manufactures products for things like laundry and housekeeping. The Global Energy segment holds the company's Nalco brand. Nalco provides chemical and water treatment services to the oil and gas industry. Going forward, Ecolab is focusing on international growth. Expanding in new markets has been a core priority for the company in recent years. Nearly half the company's revenue comes from outside the U.S. One of the best aspects of Ecolab's business is its consistency. Providing cleaning products and services is a steady business. Customers need Ecolab's services, regardless of the condition of the U.S. economy. This means Ecolab is a recession-resistant business. In fact, the company grew earnings per share each year from 2007 to 2010. It didn't skip a beat, even during the worst recession since the Great Depression. Its reliable earnings growth allows the company to raise its dividend each year. In fact, Ecolab has paid a dividend for 80 years without interruption. It raises its dividend regularly. The company recently passed along a 6% dividend increase, marking its 25th consecutive year of dividend increases. Ecolab qualifies as a Dividend Aristocrat. The stock has a dividend yield of just 1.2%, which is on the low side. Its valuation is a bit high with a P/E ratio above 30. Investors may want to wait for a better buying opportunity, but Ecolab is a high-quality company. It is the largest operator in its industry, which provides competitive advantages. No. 7: FedEx Dividend yield: 0.9%. Percentage of Gates' portfolio: 2.9%. P/E ratio: 27. FedEx ( FDX ) is yet another example of a company with a strong economic moat. It operates in global logistics, essentially an oligopoly. It would be extremely difficult financially for a company to build out a fleet large enough to compete on the scale of FedEx. FedEx generates more than $50 billion in annual revenue. It has more than 400,000 employees and services more than 220 nations and territories around the world. The company has a diversified business model. It operates the following four segments: Express (52% of revenue). Ground (33% of revenue). Freight (12% of revenue). Services (3% of revenue). FedEx maintains a modest outlook for the global economy going forward. Economic growth is expected to be weak but remain positive. One growth catalyst that will help fuel future growth is FedEx's booming ground business, thanks to e-commerce. FDX Ground Source: Roadshow Presentation, page 8 FedEx notes the e-commerce market is growing at a 16% annual rate. Plus the company has captured additional revenue market share gains in ground shipping for 17 consecutive years. In addition, the company is countering sluggish global economic growth by cutting costs. Margins are up consistently over the past several years. FDX Margins Source: Roadshow Presentation, page 5 One downside for FedEx is that it has a very low dividend yield of less than 1%. It yields less than half the 2% average yield in the S&P 500. The company helps make up for this with dividend growth. For example, it raised its dividend by 60% in 2016. While FedEx might not be an appealing stock to income investors, it is a high-quality company with a strong business model. Earnings per share are expected to rise 21% in fiscal 2016. With this kind of earnings growth, FedEx stock can generate more than satisfactory returns, even without a significant dividend yield. No. 8: Crown Castle International Dividend yield: 4.3%. Percentage of Gates' portfolio: 2.7%. P/E ratio: 17. Crown Castle International Corp. ( CCI ) is a real estate investment trust (REIT). It provides infrastructure assets to wireless communications carriers. It has approximately 40,000 towers and 26,500 route miles of fiber supporting small cells. The company operates in an appealing area because wireless communications is a growth industry. U.S. consumers can't do without their smartphones, and Crown Castle is one of the companies reaping the benefits. Crown Castle has been investing additional capital in its infrastructure in several major U.S. markets. One example is Chicago. CCI Chicago Source: 3Q Earnings presentation, page 4 This investment across the U.S. was done to accommodate higher demand for wireless services, and the investment has paid off with strong growth rates. It is enjoying higher occupancy and rising rents as well. Revenue and adjusted funds from operation (FFO) increased 6% and 17% in the third quarter. Management has an optimistic forecast for the next two years based on strong growth for the wireless industry. Higher leasing rates and price increases should fuel solid growth in 2016 and 2017. Revenue is expected to increase 7% in 2016 and 3% in 2017. Adjusted FFO is expected to grow 10% this year and 6% in 2017. One consideration for investors going forward is the risk of rising interest rates. REITs like Crown Castle rely heavily on debt financing. When interest rates rise, so too does the cost of capital. This could inhibit the company's growth in future quarters. Still, the company operates in an industry with healthy fundamentals. It should be able to continue growing above its cost of capital and create wealth for shareholders. Crown Castle is a strong stock for dividends and dividend growth. Its current yield exceeds 4%, and it recently raised its dividend by 7%. No. 9: United Parcel Service Dividend yield: 2.7%. Percentage of Gates' portfolio: 2.7%. P/E ratio: 21. The global logistics industry is dominated by three companies. FedEx is one, and so is UPS. In fact, UPS is the industry leader; its market capitalization is $100 billion, which is double FedEx's market cap. Like FedEx, UPS is benefiting from e-commerce. UPS' domestic package revenue increased 4.8% in the third quarter year over year. This drove 3.6% earnings per share growth for the period. Another emerging growth catalyst for UPS is international growth. UPS International Source: R.W. Baird 2016 Industrials Conference, page 9 UPS is growing international revenue and a rapid pace, and it has significantly improved margins in its overseas operations. For example, UPS' international segment now represents 28% of its operating profit, up from just 6% in 2000. Lastly, UPS plans to grow through acquisitions. The company recently acquired Marken, a supply chain solutions provider to the life sciences industry. UPS Marken Source: R.W. Baird 2016 Industrials Conference, page 5 The acquisition further diversifies UPS' customer base by expanding its presence in health care and pharmaceutical logistics. One concern for investors in 2017 is the risk of global recession. UPS is widely viewed as an economic bellwether. Global uncertainty levels rose as 2016 drew to a close. If the economy enters recession in 2017 or beyond, it would significant affect UPS. Barring a global recession, UPS has a positive outlook. UPS stock is reasonably valued and has a solid dividend. The stock has a P/E ratio of 20. It is cheaper than the S&P 500, which has an average P/E ratio of 26. UPS stock has a 2.7% dividend yield. This is a big advantage over main rival FedEx, which has a much smaller dividend yield. UPS has a long history of paying consistent dividends. It has either increased or maintained its cash dividend for 47 years. Its dividend has risen more than fourfold since 2000. No. 10: Coca-Cola FEMSA SAB Dividend yield: 3%. Percentage of Gates' portfolio: 2.5%. P/E ratio: 28. Coca-Cola FEMSA ( KOF ) produces, markets and distributes Coca-Cola ( KO ) beverages. It offers the full line of sparkling and still beverages. It sells its products through distribution centers and retailers in Mexico, Guatemala, Nicaragua, Costa Rica, Panama, Colombia, Venezuela, Brazil, Argentina and the Philippines. Coca-Cola FEMSA is the largest franchise bottler in the world. The stock is an excellent way to gain exposure to two appealing emerging markets: Latin America and South Asia. KOF Markets Source: Investor Kit presentation, page 2 These markets are growing at high rates for the company. Over the first nine months of 2016, total revenue and operating cash flow rose 7.8% and 6.6%. Revenue growth was driven largely by price increases. Coca-Cola FEMSA is in a strong financial position with low levels of debt and positive free cash flow. In addition, carrying the Coca-Cola brand allows it to generate high margins and enjoy pricing power. KOF Financials Source: Investor Kit presentation, page 23 This allows the company to consistently raise its dividend each year. One risk factor on which investors should keep an eye going forward is a potential change in consumer preferences. Coca-Cola FEMSA sells and distributes water and noncarbonated beverages, but more than 75% of the company's annual sales come from carbonated soft drinks. The emerging markets are high-growth economies with expanding middle classes. Citizens are enjoying rising standards of living. Once these markets become more mature, there could be a risk of consumers changing their dietary habits. Soda sales have declined in the U.S. for more than a decade. Coca-Cola's growth is struggling from this trend, which could become a challenge for Coca-Cola FEMSA moving forward. That being said, Coca-Cola FEMSA is still firmly in high-growth mode. No. 11: Grupo Televisa SAB Dividend Yield: 0.5%. Percentage of Bill Gates (Trades, Portfolio)' Portfolio: 2.3%. P/E ratio: 31 (Forward P/E). Grupo Televisa SAB (TV) is a diversified media conglomerate. In all, Televisa operates 26 pay-TV brands and television networks, cable operators and over-the-top services in over 50 countries. In the U.S., it operates Univision. In addition, Televisa owns a majority interest in Sky, a satellite television provider in Mexico, the Dominican Republic and Central America. Televisa also has operations in magazine publishing, radio broadcasting, professional sports, live entertainment, film production and gaming. It operates four business segments: Content (36% of revenue). Sky (22% of revenue). Cable (33% of revenue). Other (9% of revenue). The company is enjoying strong growth, thanks largely to high economic growth in Mexico and several Latin American markets. In 2015, net sales and segment operating income increased 9.9% and 10.6%. Growth has continued in 2016. Net sales and segment operating income rose 6.6% and 4.1% in the third quarter. The company's strongest businesses are Sky, Cable and Other, each of which posted double-digit revenue growth in the third quarter. Content segment revenue was flat in the third quarter although it did see 20% growth in network subscription revenue. However, this was offset by declines in advertising and licensing. The licensing business was affected by difficult comparisons. For example, licensing revenue fell 10% last quarter for Univision, since the comparable 2015 quarter included a major soccer tournament in Mexico. Televisa is a strong brand and has a fundamental advantage, thanks to its geographic focus. As a result, it is a compelling growth stock, for investors interested in international diversification. While it does not pay much of a dividend to shareholders, Televisa's return potential is still significant, thanks to its rapid growth. No. 12: Walgreens Boots Alliance Dividend yield: 1.8%. Percentage of Gates' portfolio: 1.5%. P/E ratio: 22. It is no surprise to see Walgreens Boots Alliance (WBA) on the list of Gates' holdings because it is an industry giant. Walgreens Boots Alliance came together in the $9 billion merger of Walgreens and Alliance Boots in 2014. The merger was a great move for the two companies. Walgreens is the biggest pharmacy operator in the U.S., and Alliance Boots was a top European pharmacy and distributor. When the two joined forces, it allowed the combined company to reach a global scale. Walgreens Boots now has three separate businesses, each of which are very large: Retail Pharmacy USA ($83.8 billion in annual sales, 70% of revenue). Retail Pharmacy International ($13.3 billion in annual sales, 11% of revenue). Pharmaceutical Wholesale ($22.6 billion in annual sales, 19% of revenue). The company performed well in fiscal 2016. Revenue and earnings per share, adjusted for currency and non-recurring costs, increased 16% and 18%. It is off to a good start in fiscal 2017 as well, thanks largely to the U.S. retail pharmacy operation. That segment posted 2.5% growth in pharmacy sales and 3% prescription growth in the 2017 first fiscal quarter. Going forward, Walgreens Boots intends to invest more in its beauty departments to help drive higher traffic. WBA Pharmacy Source: Q1 2017 Earnings presentation, page 8 There could be more transformational deals in the near future. The company has a pending deal to acquire fierce competitor Rite Aid Corp. (RAD) for $17 billion. Walgreens Boots has a below-average dividend yield, and the P/E ratio significantly exceeds the retail industry average. One of Buffett's favorite sayings is that price is what you pay, value is what you get. Walgreens Boots enjoys several competitive advantages, high profit margins and a strong brand. These qualities make it a valuable stock to own as part of a dividend growth portfolio. No. 13: Liberty Global Group Dividend yield: N/A. Percentage of Gates' portfolio: 1%. P/E ratio: 23. Liberty Global (LBTYA) is the largest international television and Internet provider. In all, the company operates in 30 countries and generates more than $20 billion in annual revenue. The company and its various subsidiaries provide service to 29 million customers. Its core brand in Europe is Virgin Media. It also has the Ziggo, Unitymedia, Telenet and UPC brands. Liberty Global is split up into two businesses, which are Liberty Global Group and LiLAC. Liberty Global includes its European operations, and LiLAC houses its Latin America and Caribbean business. Each segment - Liberty Global Group and LiLAC - have three share classes each. This share class corresponds to the Liberty Global Group. The European economy is on shaky ground broadly speaking with weak economic growth and the uncertainty presented by the Brexit vote. But television and Internet is a growth industry because of the low levels of market penetration. There are still many parts of Europe with untapped growth potential. In turn, Liberty Global is rapidly adding customers. LBTYK Customer Source: Q3 Earnings Presentation, page 5 Year-to-date additions rose 50% through the third quarter. As far as future growth is concerned, there is plenty of runway left. Liberty expects to add more than 5 million new households from 2016 to 2018. This aggressive expansion will require significant capital investment. The company plans to spend $2 billion over the next two years to build up its customer base, but the payoff is growth. LBTYK Europe Source: Q3 Earnings Presentation, page 15 Liberty Global realized growth in revenue and cash flow over the first three quarters of 2016. Growth accelerated as the year went by with the fourth quarter expected to be the highest-growth period for the year. The company is investing large amounts of capital. There will be little cash flow to spare over the next two years, which is why the stock does not pay a dividend. Investors looking for income may want to select a different telecom stock that pays dividends, and there are many to choose from. But Liberty Global could conceivably start paying a dividend at some point in the not-too-distant future, once its aggressive expansion period ends. In the meantime, the stock is reasonably valued and could generate double-digit earnings growth. Revenue is growing at a high rate, and Liberty Global will use more than $2 billion to buy back stock next year. This earnings growth means investors can earn satisfactory returns moving forward even without the benefit of a dividend. No. 14: AutoNation Dividend yield: N/A. Percentage of Gates' portfolio: 0.5%. P/E ratio: 13. AutoNation Inc. (AN) is America's largest automotive retailer. It owns and operates over 360 new vehicle franchises in 16 states. The company operates five segments: AN Segments Source: 2015 Annual Report, page 5 AutoNation has been successful growing the business over the past five years. From 2011 to 2015, sales and earnings per share increased by 8.5% and 15% per year. The company has benefited greatly from a strong operating environment. Auto sales are near a record, driven by attractive product offerings, access to affordable credit thanks to low interest rates and lower fuel prices. The market climate is supportive of auto sales, which is why new and used vehicle sales both increased 9% for AutoNation in 2015. Going forward, the company is in the process of rolling out its Brand Extension strategy. This involves further expanding its stand-alone preowned vehicle sales and service centers, branded parts and accessories, branded collision centers and its auto auction businesses. To help accomplish this, AutoNation recently announced the acquisition of three Premium Luxury franchises, one collision center and three Premium Luxury franchise add points. The assets acquired hold combined annual revenue potential of at least $430 million. Separately, the company is building its digital channel platform AutoNation Express. Digital channel sales now account for nearly 30% of vehicle sales. AutoNation does not pay a dividend, but it does return cash to shareholders through stock buybacks. The company has $316 million left on its current share price authorization, which amounts to approximately 6% of its market capitalization. All things being equal, AutoNation's buybacks will boost earnings per share by an additional 6% over the next year. The stock is cheap at a P/E ratio of 13. As a result, the combination of earnings growth and expansion of the valuation multiple, could lead to double-digit annualized returns going forward. No. 15: Liberty LiLAC Group Dividend yield: N/A. Percentage of Gates' portfolio: 0.16%. P/E ratio: 23. This share class corresponds to Liberty Global's LiLAC (LILAK) operating segment. LiLAC includes Liberty Global's Latin America and Caribbean businesses under the brands VTR, Flow, Liberty, Mas Movil and BTC. These are currently a small part of the overall business. LiLAC represents approximately 13% of Liberty Global's total annual revenue, but there is a lot of growth potential up ahead. LiLAC is poised to become a much bigger part of the company going forward as a result of the 2016 acquisition of Cable & Wireless Communications. The $7.4 billion deal added more than 10 million new customers in Latin America and the Caribbean. The CWC acquisition presents cost synergy opportunities. LILAC Synergies Source: Q3 Earnings Presentation, page 12 As a result, LiLAC's year-to-date revenue and operating cash flow doubled year over year through the third quarter. Another growth catalyst for LiLAC is to increase bundling of services. Nearly half of LiLAC's customers purchase only one service. The company will seek to expand on this moving forward. LILAC Bundling Source: Investor relations Bundling services is lucrative for telecommunications providers, which is why the practice is so common in the U.S. Liberty Global has a much higher percentage of triple-play customers in Europe, and it has served the company well. Like Liberty Global, LiLAC uses its cash flow to reinvest in the business and support its balance sheet. It does not pay a dividend. That being said, LiLAC also offers investors attractive return potential, from its future revenue and earnings growth. The company expects to increase operating cash flow by 7% to 9% each year over the next few years. No. 16: Arcos Dorados Holdings Dividend yield: N/A. Percentage of Gates' portfolio: 0.1%. P/E ratio: 18. Last but not least is Arcos Dorados (ARCO). Investors might not immediately recognize Arcos Dorados by its name, but they will certainly understand its business. Arcos Dorados is a holding company. Collectively, it is the largest McDonald's (MCD) franchisee in the world in terms of number of restaurants. It has the exclusive right to own and operate McDonald's restaurants in 20 Latin American and Caribbean countries and territories. In all, it operates or franchises over 2,100 McDonald's restaurants. Its geographic split is as follows: Brazil (45% of revenue). South Latin America Division (28% of revenue). Caribbean (14% of revenue). North Latin America Division (13% of revenue). Many of the countries in which Arcos Dorados operates are emerging markets. For example, sales in South Latin America and the Caribbean rose 24% and 27.6% through the first nine months of 2016. One downside for Arcos Dorados investors is that the stock does not pay a dividend. This might seem like a deal breaker since McDonald's itself is a legendary dividend stock. The upside for Arcos Dorados is that it is growing much faster than McDonald's. For example, on a constant-currency basis, revenue rose 15.3% in the third quarter. Some of this growth was due to aggressive new restaurant openings. In the past four reported quarters, Arcos Dorados opened 33 new restaurants and 133 Dessert Centers. Comparable-restaurant sales, a key metric for restaurant chains that measures growth at locations open at least one year, increased 11.3% last quarter. Double-digit comparable sales growth is virtually unheard of in the U.S. Overall adjusted EBITDA grew 24% last quarter. ARCO EBITDA Source: Q3 Results, page 3 A key factor boosting EBITDA is that, even with sales growing at a rapid pace, Arcos Dorados kept general and administrative costs flat. This indicates the company is doing a very good job boosting productivity. Disclosure: I am not long any of the stocks mentioned in this article. Start a free seven-day trial of Premium Membership to GuruFocus. This article first appeared on GuruFocus . Warning! GuruFocus has detected 4 Warning Sign with BRK.A. Click here to check it out. BRK.A 15-Year Financial Data The intrinsic value of BRK.A Peter Lynch Chart of BRK.A \|\| Bill Gates' Stock Portfolio: - By Ben Reynolds (Published Jan. 20 by Bob Ciura) Bill Gates(Trades,Portfolio) is the richest man in the world. The Bill & Melinda Gates Foundation has a massive $18.5 billion endowment. • Warning! GuruFocus has detected 4 Warning Sign with BRK.A. Click here to check it out. • BRK.A 15-Year Financial Data • The intrinsic value of BRK.A • Peter Lynch Chart of BRK.A That kind of wealth is something of which the vast majority of us can only dream. However, there is one similarity between the everyday investor and the wealthiest person on the planet: We're all looking for good stocks to buy and hold for the long term. Gates is a personal friend ofWarren Buffett(Trades,Portfolio) so it's no surprise to see the Bill & Melinda Gates Foundation take a similar approach to investing as the Oracle of Omaha. You can see Buffett's top 20 high-yield dividend stocks analyzed here. The Bill & Melinda Gates Foundation owns several highly profitable companies with sustainable competitive advantages. Many of the stocks also pay dividends to shareholders and grow their dividend payouts over time. Without further ado, here are the top 16 stocks held by the Bill & Melinda Gates Foundation. No. 1: Berkshire Hathaway • Dividend yield:N/A. • Percentage of Gates' portfolio:58%. • Price-earnings (P/E) ratio:17. Berkshire Hathaway Inc.(NYSE:BRK.A)(NYSE:BRK.B) stock takes up the majority of Gates' investment portfolio, and it is easy to see why. It's safe to say the money is in good hands. Berkshire, under Buffett's stewardship, grew from a struggling textile manufacturer into one of the largest conglomerates in the world. Since Berkshire's current management team took the helm 51 years ago, the company's per-share book value rose from $19 to $155,501, a rate of 19.2% compounded annually. Today, Berkshire is a global giant. It owns and operates dozens of businesses with a hand in nearly every major industry including insurance, railroads, energy, finance, manufacturing and retailing. A breakdown of Berkshire's various operating segments is as follows: • Sales and Services (51% of revenue). • Insurance Premiums (20% of revenue). • Railroad, Utilities, and Energy (19% of revenue). • Interest, Dividend, and Other Investment Income (2% of revenue). • Financial Product Sales (3% of revenue). • Investment and Derivatives (5% of revenue). In Berkshire's annual letters to shareholders, Buffett typically evaluates the company's performance in terms of book value. Book value is an accounting metric that measures a company's assets minus its liabilities. The resulting difference is a company's book value. This is a proxy for the intrinsic value of a firm, which Buffett believes to be the most important financial metric. Over the past five years, Berkshire has done a great job growing assets faster than liabilities, which builds shareholder wealth. Source: 2015 Annual Report, page 36 Berkshire doesn't pay a dividend to shareholders. Buffett and his partner Charlie Munger (Trades, Portfolio) have always contended that they can create wealth at a higher rate than the dividend would provide to shareholders. There are few managers who can say that and get away with it, but Buffett and Munger might be the only two who can. While Berkshire stock may not be attractive for investors who want dividend income, there are few companies that have a track record nearly as successful as Berkshire. No. 2: Waste Management • Dividend yield:2.4%. • Percentage of Gates' portfolio:6.5%. • P/E ratio:27. Waste Management Inc.(WM) is the embodiment of a company with a wide economic moat. It operates in waste removal and recycling services. This is a highly concentrated industry with only a few companies controlling the majority of the market. Waste Management services many different industry groups, which are organized as follows: • Collection (55% of revenue). • Landfill (19% of revenue). • Transfer (9% of revenue). • Recycling (8% of revenue). • Other (9% of revenue). The company is performing well. Over the first three quarters of 2016, revenue and earnings per share increased 3.6% and 8.8%. Waste Management operates in a stable and necessary industry. Waste removal is extremely capital intensive and is subject to significant regulatory oversight. These competitive advantages allow Waste Management to generate steady profits even when the U.S. economy enters recession. Source: JPMorgan Industrials Conference presentation, page 14 Waste Management's high margins and consistent cash flow put the company in a strong financial position. It has reduced its debt significantly in the past several years. Source: JPMorgan Industrials Conference presentation, page 17 With less debt to worry about, there is more cash flow left over each year. It uses this cash flow to invest in the business and for shareholder cash returns. Source: JP Morgan Industrials Conference presentation, page On Dec. 15, the company raised its dividend by 4% and added $750 million to its share repurchase program. Waste Management is a Dividend Achiever. Dividend Achievers are companies that have raised dividends for 10 years or more. You can see the entire list of all 272 Dividend Achievers here. For its part, Waste Management has increased its dividend for 14 consecutive years. The stock currently has a 2.5% dividend yield. Waste Management isn't a cheap stock. Its share price has soared over the past several years. But it still has an above-average dividend yield, and the company is growing. No. 3: Canadian National Railway • Dividend yield:1.6%. • Percentage of Gates' portfolio:6.1%. • P/E ratio:20. Canadian National Railway(CNI) is the only transcontinental railway in North America. It has a massive network, which includes more than 19,000 miles that spans Canada and the U.S. Source: Investor Presentation, page 7 The company offers a full range of services including rail, intermodal, trucking, warehousing and distribution. Canadian National has an excellent business. From 2011 to 2015, it grew revenue and adjusted earnings per share at a 9% and 16% compound annual rate. It generated this growth from executing a number of operational strategies. First, it placed focus on improving productivity. Source: Investor Presentation, page 9 This has allowed the company to boost volumes and revenue. Furthermore, Canadian National produces industry-leading margins, thanks to its lean cost structure. Source: Investor Presentation, page 12 One factor negatively impacting the company right now is that it is exposed to commodities, specifically coal. Coal revenue declined 32% in the third quarter, year over year. Moreover, revenue for energy and mining fell 13% and 20% last quarter. That being said, the company's diverse customer base and operational excellence more than offset the declines in its commodity-based segments. Canadian National's operating expenses declined 7% last quarter. Operating ratio reached a record 53.3% last quarter. Free cash flow over the first three quarters of 2016 remained steady with the same nine-month period in 2015. The company expects to post flat adjusted earnings per share in 2016. This in itself would be a notable accomplishment given the steep declines in oil and coal shipments. With its hefty margins, Canadian National generates significant cash flow, and its shareholder-friendly management actively deploys this cash flow to investors. Dividends per share have nearly doubled in that same five-year period. The company is one of the best dividend growth stocks in Canada. Canadian National certainly isn't a flashy business. Railroads may be overlooked by many investors for being boring, but Canadian National's shareholder returns prove that boring can be beautiful. No. 4: Caterpillar • Dividend yield:3.3%. • Percentage of Gates' portfolio:5.4%. • P/E ratio:31 (forward P/E ratio). Caterpillar(CAT) is a strong brand with a dominant industry position. It manufactures heavy machinery, mostly to the construction and mining sectors. 2016 was a year to forget for Caterpillar. The sharp downturn in precious metals prices weighed heavily on demand for heavy machinery. For example, Caterpillar's earnings per share fell by nearly half in the third quarter. Source: Credit Suisse Industrials Conference presentation, page 4 Separately Caterpillar is being negatively impacted by slowing growth in emerging markets and the strong U.S. dollar. As a result, full-year revenue is expected to decline 29% in 2016. These headwinds are expected to persist in 2017 although there is potential for a recovery. Source: Credit Suisse Industrials Conference presentation, page 7 Fortunately, there may be a light at the end of the tunnel. There are hopes that Caterpillar will return to growth in 2017. One catalyst could be a renewed emphasis on fiscal stimulus in the U.S. The incoming administration may pursue policies to stimulate the U.S. economy. This could include more infrastructure spending and perhaps a push for more lax regulations on the energy and mining industries, which are among Caterpillar's biggest customers. Separately higher commodity prices would be a major boost. In the meantime, investors are paid well to wait for Caterpillar's turnaround to materialize, and the company enjoys economies of scale. This provides it with the financial flexibility to cut costs so that it can maintain its dividend. Caterpillar forecasts over $1 billion in cost savings this year alone, mostly in manufacturing and headcount reductions. The company may not raise its dividend until economic conditions improve, but its solid 3.3% dividend yield is secure. No. 5: Walmart Stores • Dividend yield:3%. • Percentage of Gates' portfolio:4.5%. • P/E ratio:15. Walmart is another great example of a company with durable competitive advantages. It is the largest retailer in the world with annual revenue of approximately $500 billion. The company came to dominate the retail industry by keeping a laserlike focus on reducing costs everywhere, particularly in supply chain and distribution. This allowed Walmart to offer consistently lower prices than its competitors ever could. In turn, it steadily devoured market share until it became the giant it is today. Walmart's growth has slowed over the past year. The company is investing billions to pay higher wages, and renovate its stores. This will limit Walmart's earnings growth. As a result, some might assume Walmart's best days are behind it. After all, a behemoth as large as Walmart will naturally have difficulty continuing to grow at a rapid pace. But there are still growth catalysts for the company to look forward to, specifically in e-commerce and small stores. Walmart acquired Jet.com for $3 billion to boost its e-commerce business, especially in emerging markets like China. Source: Investor Community Meeting presentation, page 4 E-commerce revenue growth accelerated throughout the year. In the third fiscal quarter, e-commerce sales increased 20.6% year over year. Domestic growth is starting to pick up again, thanks to e-commerce and also Walmart's small-store franchise. The company's Neighborhood Markets small-store banner grew comparable sales by 5.2% last quarter, well above the 1.2% companywide growth rate. Walmart remains highly profitable and very resistant to recessions. Consumers tend to scale down to discount retail when times are tight, which is why Walmart continued to grow, even during the Great Recession. This allows Walmart to pay a solid 3% dividend yield and raise its dividend each year like clockwork. Walmart has raised its dividend for 43 years in a row. Its long history of dividend growth qualifies Walmart as a Dividend Aristocrat, a group of companies in the Standard & Poor's 500 that have raised dividends for at least 25 consecutive years. You can see the entire list of all 50 Dividend Aristocrats here. The stock has an appealing P/E ratio of 14. No. 6: Ecolab • Dividend yield:1.3%. • Percentage of Gates' portfolio:2.9%. • P/E ratio:32. Ecolab(ECL) is a commercial cleaning products firm. It operates in three segments: • Global Industrial (36% of revenue). • Global Institutional (35% of revenue). • Global Energy (23% of revenue). • Other (6% of revenue). The Other category includes pest elimination and equipment care. The Global Industrial group provides water treatment, cleaning and sanitation services to large industrial firms. The industrial customer base is made up primarily of food and beverage, manufacturing, chemical and mining companies. The Global Institutional business services specialized products and services to the foodservice, hospitality, lodging, health care and retail industries. This segment manufactures products for things like laundry and housekeeping. The Global Energy segment holds the company's Nalco brand. Nalco provides chemical and water treatment services to the oil and gas industry. Going forward, Ecolab is focusing on international growth. Expanding in new markets has been a core priority for the company in recent years. Nearly half the company's revenue comes from outside the U.S. One of the best aspects of Ecolab's business is its consistency. Providing cleaning products and services is a steady business. Customers need Ecolab's services, regardless of the condition of the U.S. economy. This means Ecolab is a recession-resistant business. In fact, the company grew earnings per share each year from 2007 to 2010. It didn't skip a beat, even during the worst recession since the Great Depression. Its reliable earnings growth allows the company to raise its dividend each year. In fact, Ecolab has paid a dividend for 80 years without interruption. It raises its dividend regularly. The company recently passed along a 6% dividend increase, marking its 25th consecutive year of dividend increases. Ecolab qualifies as a Dividend Aristocrat. The stock has a dividend yield of just 1.2%, which is on the low side. Its valuation is a bit high with a P/E ratio above 30. Investors may want to wait for a better buying opportunity, but Ecolab is a high-quality company. It is the largest operator in its industry, which provides competitive advantages. No. 7: FedEx • Dividend yield:0.9%. • Percentage of Gates' portfolio:2.9%. • P/E ratio:27. FedEx(FDX) is yet another example of a company with a strong economic moat. It operates in global logistics, essentially an oligopoly. It would be extremely difficult financially for a company to build out a fleet large enough to compete on the scale of FedEx. FedEx generates more than $50 billion in annual revenue. It has more than 400,000 employees and services more than 220 nations and territories around the world. The company has a diversified business model. It operates the following four segments: • Express (52% of revenue). • Ground (33% of revenue). • Freight (12% of revenue). • Services (3% of revenue). FedEx maintains a modest outlook for the global economy going forward. Economic growth is expected to be weak but remain positive. One growth catalyst that will help fuel future growth is FedEx's booming ground business, thanks to e-commerce. Source: Roadshow Presentation, page 8 FedEx notes the e-commerce market is growing at a 16% annual rate. Plus the company has captured additional revenue market share gains in ground shipping for 17 consecutive years. In addition, the company is countering sluggish global economic growth by cutting costs. Margins are up consistently over the past several years. Source: Roadshow Presentation, page 5 One downside for FedEx is that it has a very low dividend yield of less than 1%. It yields less than half the 2% average yield in the S&P 500. The company helps make up for this with dividend growth. For example, it raised its dividend by 60% in 2016. While FedEx might not be an appealing stock to income investors, it is a high-quality company with a strong business model. Earnings per share are expected to rise 21% in fiscal 2016. With this kind of earnings growth, FedEx stock can generate more than satisfactory returns, even without a significant dividend yield. No. 8: Crown Castle International • Dividend yield:4.3%. • Percentage of Gates' portfolio:2.7%. • P/E ratio:17. Crown Castle International Corp.(CCI) is a real estate investment trust (REIT). It provides infrastructure assets to wireless communications carriers. It has approximately 40,000 towers and 26,500 route miles of fiber supporting small cells. The company operates in an appealing area because wireless communications is a growth industry. U.S. consumers can't do without their smartphones, and Crown Castle is one of the companies reaping the benefits. Crown Castle has been investing additional capital in its infrastructure in several major U.S. markets. One example is Chicago. Source: 3Q Earnings presentation, page 4 This investment across the U.S. was done to accommodate higher demand for wireless services, and the investment has paid off with strong growth rates. It is enjoying higher occupancy and rising rents as well. Revenue and adjusted funds from operation (FFO) increased 6% and 17% in the third quarter. Management has an optimistic forecast for the next two years based on strong growth for the wireless industry. Higher leasing rates and price increases should fuel solid growth in 2016 and 2017. Revenue is expected to increase 7% in 2016 and 3% in 2017. Adjusted FFO is expected to grow 10% this year and 6% in 2017. One consideration for investors going forward is the risk of rising interest rates. REITs like Crown Castle rely heavily on debt financing. When interest rates rise, so too does the cost of capital. This could inhibit the company's growth in future quarters. Still, the company operates in an industry with healthy fundamentals. It should be able to continue growing above its cost of capital and create wealth for shareholders. Crown Castle is a strong stock for dividends and dividend growth. Its current yield exceeds 4%, and it recently raised its dividend by 7%. No. 9: United Parcel Service • Dividend yield:2.7%. • Percentage of Gates' portfolio:2.7%. • P/E ratio:21. The global logistics industry is dominated by three companies. FedEx is one, and so is UPS. In fact, UPS is the industry leader; its market capitalization is $100 billion, which is double FedEx's market cap. Like FedEx, UPS is benefiting from e-commerce. UPS' domestic package revenue increased 4.8% in the third quarter year over year. This drove 3.6% earnings per share growth for the period. Another emerging growth catalyst for UPS is international growth. Source: R.W. Baird 2016 Industrials Conference, page 9 UPS is growing international revenue and a rapid pace, and it has significantly improved margins in its overseas operations. For example, UPS' international segment now represents 28% of its operating profit, up from just 6% in 2000. Lastly, UPS plans to grow through acquisitions. The company recently acquired Marken, a supply chain solutions provider to the life sciences industry. Source: R.W. Baird 2016 Industrials Conference, page 5 The acquisition further diversifies UPS' customer base by expanding its presence in health care and pharmaceutical logistics. One concern for investors in 2017 is the risk of global recession. UPS is widely viewed as an economic bellwether. Global uncertainty levels rose as 2016 drew to a close. If the economy enters recession in 2017 or beyond, it would significant affect UPS. Barring a global recession, UPS has a positive outlook. UPS stock is reasonably valued and has a solid dividend. The stock has a P/E ratio of 20. It is cheaper than the S&P 500, which has an average P/E ratio of 26. UPS stock has a 2.7% dividend yield. This is a big advantage over main rival FedEx, which has a much smaller dividend yield. UPS has a long history of paying consistent dividends. It has either increased or maintained its cash dividend for 47 years. Its dividend has risen more than fourfold since 2000. No. 10: Coca-Cola FEMSA SAB • Dividend yield:3%. • Percentage of Gates' portfolio:2.5%. • P/E ratio:28. Coca-Cola FEMSA(KOF) produces, markets and distributesCoca-Cola(KO) beverages. It offers the full line of sparkling and still beverages. It sells its products through distribution centers and retailers in Mexico, Guatemala, Nicaragua, Costa Rica, Panama, Colombia, Venezuela, Brazil, Argentina and the Philippines. Coca-Cola FEMSA is the largest franchise bottler in the world. The stock is an excellent way to gain exposure to two appealing emerging markets: Latin America and South Asia. Source: Investor Kit presentation, page 2 These markets are growing at high rates for the company. Over the first nine months of 2016, total revenue and operating cash flow rose 7.8% and 6.6%. Revenue growth was driven largely by price increases. Coca-Cola FEMSA is in a strong financial position with low levels of debt and positive free cash flow. In addition, carrying the Coca-Cola brand allows it to generate high margins and enjoy pricing power. Source: Investor Kit presentation, page 23 This allows the company to consistently raise its dividend each year. One risk factor on which investors should keep an eye going forward is a potential change in consumer preferences. Coca-Cola FEMSA sells and distributes water and noncarbonated beverages, but more than 75% of the company's annual sales come from carbonated soft drinks. The emerging markets are high-growth economies with expanding middle classes. Citizens are enjoying rising standards of living. Once these markets become more mature, there could be a risk of consumers changing their dietary habits. Soda sales have declined in the U.S. for more than a decade. Coca-Cola's growth is struggling from this trend, which could become a challenge for Coca-Cola FEMSA moving forward. That being said, Coca-Cola FEMSA is still firmly in high-growth mode. No. 11: Grupo Televisa SAB • Dividend Yield:0.5%. • Percentage of Bill Gates (Trades, Portfolio)' Portfolio:2.3%. • P/E ratio:31 (Forward P/E). Grupo Televisa SAB(TV) is a diversified media conglomerate. In all, Televisa operates 26 pay-TV brands and television networks, cable operators and over-the-top services in over 50 countries. In the U.S., it operates Univision. In addition, Televisa owns a majority interest in Sky, a satellite television provider in Mexico, the Dominican Republic and Central America. Televisa also has operations in magazine publishing, radio broadcasting, professional sports, live entertainment, film production and gaming. It operates four business segments: • Content (36% of revenue). • Sky (22% of revenue). • Cable (33% of revenue). • Other (9% of revenue). The company is enjoying strong growth, thanks largely to high economic growth in Mexico and several Latin American markets. In 2015, net sales and segment operating income increased 9.9% and 10.6%. Growth has continued in 2016. Net sales and segment operating income rose 6.6% and 4.1% in the third quarter. The company's strongest businesses are Sky, Cable and Other, each of which posted double-digit revenue growth in the third quarter. Content segment revenue was flat in the third quarter although it did see 20% growth in network subscription revenue. However, this was offset by declines in advertising and licensing. The licensing business was affected by difficult comparisons. For example, licensing revenue fell 10% last quarter for Univision, since the comparable 2015 quarter included a major soccer tournament in Mexico. Televisa is a strong brand and has a fundamental advantage, thanks to its geographic focus. As a result, it is a compelling growth stock, for investors interested in international diversification. While it does not pay much of a dividend to shareholders, Televisa's return potential is still significant, thanks to its rapid growth. No. 12: Walgreens Boots Alliance • Dividend yield:1.8%. • Percentage of Gates' portfolio:1.5%. • P/E ratio:22. It is no surprise to seeWalgreens Boots Alliance(WBA) on the list of Gates' holdings because it is an industry giant. Walgreens Boots Alliance came together in the $9 billion merger of Walgreens and Alliance Boots in 2014. The merger was a great move for the two companies. Walgreens is the biggest pharmacy operator in the U.S., and Alliance Boots was a top European pharmacy and distributor. When the two joined forces, it allowed the combined company to reach a global scale. Walgreens Boots now has three separate businesses, each of which are very large: • Retail Pharmacy USA ($83.8 billion in annual sales, 70% of revenue). • Retail Pharmacy International ($13.3 billion in annual sales, 11% of revenue). • Pharmaceutical Wholesale ($22.6 billion in annual sales, 19% of revenue). The company performed well in fiscal 2016. Revenue and earnings per share, adjusted for currency and non-recurring costs, increased 16% and 18%. It is off to a good start in fiscal 2017 as well, thanks largely to the U.S. retail pharmacy operation. That segment posted 2.5% growth in pharmacy sales and 3% prescription growth in the 2017 first fiscal quarter. Going forward, Walgreens Boots intends to invest more in its beauty departments to help drive higher traffic. Source: Q1 2017 Earnings presentation, page 8 There could be more transformational deals in the near future. The company has a pending deal to acquire fierce competitorRite Aid Corp.(RAD) for $17 billion. Walgreens Boots has a below-average dividend yield, and the P/E ratio significantly exceeds the retail industry average. One of Buffett's favorite sayings is that price is what you pay, value is what you get. Walgreens Boots enjoys several competitive advantages, high profit margins and a strong brand. These qualities make it a valuable stock to own as part of a dividend growth portfolio. No. 13: Liberty Global Group • Dividend yield:N/A. • Percentage of Gates' portfolio:1%. • P/E ratio:23. Liberty Global(LBTYA) is the largest international television and Internet provider. In all, the company operates in 30 countries and generates more than $20 billion in annual revenue. The company and its various subsidiaries provide service to 29 million customers. Its core brand in Europe is Virgin Media. It also has the Ziggo, Unitymedia, Telenet and UPC brands. Liberty Global is split up into two businesses, which are Liberty Global Group and LiLAC. Liberty Global includes its European operations, and LiLAC houses its Latin America and Caribbean business. Each segment - Liberty Global Group and LiLAC - have three share classes each. This share class corresponds to the Liberty Global Group. The European economy is on shaky ground broadly speaking with weak economic growth and the uncertainty presented by the Brexit vote. But television and Internet is a growth industry because of the low levels of market penetration. There are still many parts of Europe with untapped growth potential. In turn, Liberty Global is rapidly adding customers. Source: Q3 Earnings Presentation, page 5 Year-to-date additions rose 50% through the third quarter. As far as future growth is concerned, there is plenty of runway left. Liberty expects to add more than 5 million new households from 2016 to 2018. This aggressive expansion will require significant capital investment. The company plans to spend $2 billion over the next two years to build up its customer base, but the payoff is growth. Source: Q3 Earnings Presentation, page 15 Liberty Global realized growth in revenue and cash flow over the first three quarters of 2016. Growth accelerated as the year went by with the fourth quarter expected to be the highest-growth period for the year. The company is investing large amounts of capital. There will be little cash flow to spare over the next two years, which is why the stock does not pay a dividend. Investors looking for income may want to select a different telecom stock that pays dividends, and there are many to choose from. But Liberty Global could conceivably start paying a dividend at some point in the not-too-distant future, once its aggressive expansion period ends. In the meantime, the stock is reasonably valued and could generate double-digit earnings growth. Revenue is growing at a high rate, and Liberty Global will use more than $2 billion to buy back stock next year. This earnings growth means investors can earn satisfactory returns moving forward even without the benefit of a dividend. No. 14: AutoNation • Dividend yield:N/A. • Percentage of Gates' portfolio:0.5%. • P/E ratio:13. AutoNation Inc.(AN) is America's largest automotive retailer. It owns and operates over 360 new vehicle franchises in 16 states. The company operates five segments: Source: 2015 Annual Report, page 5 AutoNation has been successful growing the business over the past five years. From 2011 to 2015, sales and earnings per share increased by 8.5% and 15% per year. The company has benefited greatly from a strong operating environment. Auto sales are near a record, driven by attractive product offerings, access to affordable credit thanks to low interest rates and lower fuel prices. The market climate is supportive of auto sales, which is why new and used vehicle sales both increased 9% for AutoNation in 2015. Going forward, the company is in the process of rolling out its Brand Extension strategy. This involves further expanding its stand-alone preowned vehicle sales and service centers, branded parts and accessories, branded collision centers and its auto auction businesses. To help accomplish this, AutoNation recently announced the acquisition of three Premium Luxury franchises, one collision center and three Premium Luxury franchise add points. The assets acquired hold combined annual revenue potential of at least $430 million. Separately, the company is building its digital channel platform AutoNation Express. Digital channel sales now account for nearly 30% of vehicle sales. AutoNation does not pay a dividend, but it does return cash to shareholders through stock buybacks. The company has $316 million left on its current share price authorization, which amounts to approximately 6% of its market capitalization. All things being equal, AutoNation's buybacks will boost earnings per share by an additional 6% over the next year. The stock is cheap at a P/E ratio of 13. As a result, the combination of earnings growth and expansion of the valuation multiple, could lead to double-digit annualized returns going forward. No. 15: Liberty LiLAC Group • Dividend yield:N/A. • Percentage of Gates' portfolio:0.16%. • P/E ratio:23. This share class corresponds to Liberty Global'sLiLAC(LILAK) operating segment. LiLAC includes Liberty Global's Latin America and Caribbean businesses under the brands VTR, Flow, Liberty, Mas Movil and BTC. These are currently a small part of the overall business. LiLAC represents approximately 13% of Liberty Global's total annual revenue, but there is a lot of growth potential up ahead. LiLAC is poised to become a much bigger part of the company going forward as a result of the 2016 acquisition of Cable & Wireless Communications. The $7.4 billion deal added more than 10 million new customers in Latin America and the Caribbean. The CWC acquisition presents cost synergy opportunities. Source: Q3 Earnings Presentation, page 12 As a result, LiLAC's year-to-date revenue and operating cash flow doubled year over year through the third quarter. Another growth catalyst for LiLAC is to increase bundling of services. Nearly half of LiLAC's customers purchase only one service. The company will seek to expand on this moving forward. Source: Investor relations Bundling services is lucrative for telecommunications providers, which is why the practice is so common in the U.S. Liberty Global has a much higher percentage of triple-play customers in Europe, and it has served the company well. Like Liberty Global, LiLAC uses its cash flow to reinvest in the business and support its balance sheet. It does not pay a dividend. That being said, LiLAC also offers investors attractive return potential, from its future revenue and earnings growth. The company expects to increase operating cash flow by 7% to 9% each year over the next few years. No. 16: Arcos Dorados Holdings • Dividend yield:N/A. • Percentage of Gates' portfolio:0.1%. • P/E ratio:18. Last but not least isArcos Dorados(ARCO). Investors might not immediately recognize Arcos Dorados by its name, but they will certainly understand its business. Arcos Dorados is a holding company. Collectively, it is the largestMcDonald's(MCD) franchisee in the world in terms of number of restaurants. It has the exclusive right to own and operate McDonald's restaurants in 20 Latin American and Caribbean countries and territories. In all, it operates or franchises over 2,100 McDonald's restaurants. Its geographic split is as follows: • Brazil (45% of revenue). • South Latin America Division (28% of revenue). • Caribbean (14% of revenue). • North Latin America Division (13% of revenue). Many of the countries in which Arcos Dorados operates are emerging markets. For example, sales in South Latin America and the Caribbean rose 24% and 27.6% through the first nine months of 2016. One downside for Arcos Dorados investors is that the stock does not pay a dividend. This might seem like a deal breaker since McDonald's itself is a legendary dividend stock. The upside for Arcos Dorados is that it is growing much faster than McDonald's. For example, on a constant-currency basis, revenue rose 15.3% in the third quarter. Some of this growth was due to aggressive new restaurant openings. In the past four reported quarters, Arcos Dorados opened 33 new restaurants and 133 Dessert Centers. Comparable-restaurant sales, a key metric for restaurant chains that measures growth at locations open at least one year, increased 11.3% last quarter. Double-digit comparable sales growth is virtually unheard of in the U.S. Overall adjusted EBITDA grew 24% last quarter. Source: Q3 Results, page 3 A key factor boosting EBITDA is that, even with sales growing at a rapid pace, Arcos Dorados kept general and administrative costs flat. This indicates the company is doing a very good job boosting productivity. Disclosure:I am not long any of the stocks mentioned in this article. Start a free seven-day trial of Premium Membership to GuruFocus. This article first appeared onGuruFocus. • Warning! GuruFocus has detected 4 Warning Sign with BRK.A. Click here to check it out. • BRK.A 15-Year Financial Data • The intrinsic value of BRK.A • Peter Lynch Chart of BRK.A \|\| Costco has become a major driver of Citi's business: CC Sales (BI Intelligence) This story was delivered to BI Intelligence " Payments Briefing " subscribers. To learn more and subscribe, please click here . Citigroup's acquisition of Costco's co-branded credit card portfolio from Amex in June 2016 continues to pay off. In its Q4 2016 earnings release, Citi posted 8% overall revenue growth on a constant-currency basis. The Costco portfolio appears to be a major driver of Citi’s overall growth right now. Costco cards are still driving massive spending. The customer base, which likely totals roughly 12 million, saw over $52 billion in purchase sales in its first six months, and over $6 billion in loan growth, according to the firm's earnings call. That’s really strong performance — for context, Amex saw roughly $80 billion in Costco billed business in 2015, which puts Citi’s annual run rate roughly $24 billion ahead of the Amex card. That’s propelling growth in Citi’s US branded cards business. Citi’s branded cards earned $2.2 billion in revenue in Q4 2016, posting 15% growth year-over-year (YoY). Without Costco, that growth rate dips to 2%, showing the massive impact that the portfolio acquisition continues to have on Citi’s business. And growth in branded cards revenue is one of the major drivers of Citi overall. Citi’s other segments aren’t performing this strongly — retail banking revenue was down 4% YoY, and retail services remained flat. Growth in branded cards, which was driven by Costco, reflects just how pivotal the portfolio is to Citis’ results. And while that’s good in the short term, the rewards rat race we’re seeing could pose some problems for the bank moving forward. Costco has given Citigroup immense growth in the months since acquisition. But it’s also leading to rising costs — operational expenses, for example, rose 6% YoY in Q4, largely reflecting expenditure on the Costco portfolio. The firm will have to “overcome promotional balances” in order to maintain success. And though Costco feels “well-positioned” to do so, keeping an eye out for the bank’s branded cards and other new investments will be key. That’s particularly true in light of stiff rewards competition, which is raising expenses for card networks but providing sometimes limited returns. Story continues The Costco and Citigroup relationship is just one part of the broader payments ecosystem, which has grown to include vendors, merchants, acquirers, processors, and more. John Heggestuen, director of research at BI Intelligence , Business Insider’s premium research service, has compiled a detailed report on the payments ecosystem that drills into the industry to explain how a broad range of transactions are processed, including prepaid and store cards, as well as revealing which types of companies are in the best and worst position to capitalize on the latest industry trends. Here are some key takeaways from the report: 2016 will be a watershed year for the payments industry. Payments companies are improving security, expanding their mobile offerings , and building commerce capabilities that will give consumers a more compelling reason to make purchases using digital devices. Payments is an extremely complex industry. To understand the next big digital opportunity lies, it's critical to understand how the traditional credit- and debit-processing chain works and what roles acquirers, processors, issuing banks, card networks, independent sales organizations, gateways, and software and hardware providers play. Alternative technologies could disrupt the processing ecosystem. Devices ranging from refrigerators to smartwatches now feature payment capabilities, which will spur changes in consumer payment behaviors. Likewise, blockchain technology, the protocol that underlies Bitcoin, could one day change how consumer card payments are verified. In full, the report: Uncovers the key themes and trends affecting the payments industry in 2016 and beyond. Gives a detailed description of the stakeholders involved in a payment transaction, along with hardware and software providers. Offers diagrams and infographics explaining how card transactions are processed and which players are involved in each step. Provides charts on our latest forecasts, key company growth, survey results, and more. Analyzes the alternative technologies, including blockchain, which could further disrupt the ecosystem. To get your copy of this invaluable guide, choose one of these options: Subscribe to an ALL-ACCESS Membership with BI Intelligence and gain immediate access to this report AND over 100 other expertly researched deep-dive reports, subscriptions to all of our daily newsletters, and much more. >> START A MEMBERSHIP Purchase the report and download it immediately from our research store. >> BUY THE REPORT The choice is yours. But however you decide to acquire this report, you’ve given yourself a powerful advantage in your understanding of the payments ecosystem. More From Business Insider European acquirer Worldpay is piloting a phone-based mobile point-of-sale platform Samsung Pay expands beyond the Galaxy in India Amazon's new Prime Reload program rewards users but challenges banks \|\| Costco has become a major driver of Citi's business: (BI Intelligence) This story was delivered to BI Intelligence "Payments Briefing" subscribers. To learn more and subscribe, pleaseclick here. Citigroup's acquisition of Costco's co-branded credit card portfolio from Amex in June 2016 continues to pay off. In its Q4 2016 earnings release, Citi posted8%overall revenue growth on a constant-currency basis. The Costco portfolio appears to be a major driver of Citi’s overall growth right now. • Costco cards are still driving massive spending. The customer base, which likely totals roughly 12 million, saw over$52 billionin purchase sales in its first six months, and over $6 billion in loan growth, according to the firm's earnings call. That’s really strong performance — for context, Amex saw roughly $80 billion in Costco billed business in 2015, which puts Citi’s annual run rate roughly $24 billion ahead of the Amex card. • That’s propelling growth in Citi’s US branded cards business. Citi’s branded cards earned $2.2 billion in revenue in Q4 2016, posting 15% growth year-over-year (YoY). Without Costco, that growth rate dips to 2%, showing the massive impact that the portfolio acquisition continues to have on Citi’s business. • And growth in branded cards revenue is one of the major drivers of Citi overall. Citi’s other segments aren’t performing this strongly — retail banking revenue was down 4% YoY, and retail services remained flat. Growth in branded cards, which was driven by Costco, reflects just how pivotal the portfolio is to Citis’ results. And while that’s good in the short term, the rewards rat race we’re seeing could pose some problems for the bank moving forward. Costco has given Citigroup immense growth in the months since acquisition. But it’s also leading to rising costs — operational expenses, for example, rose 6% YoY in Q4, largely reflecting expenditure on the Costco portfolio. The firm will have to “overcome promotional balances” in order to maintain success. And though Costco feels “well-positioned” to do so, keeping an eye out for the bank’s branded cards and other new investments will be key. That’s particularly true in light of stiff rewards competition, which is raising expenses for card networks but providing sometimes limited returns. The Costco and Citigroup relationship is just one part of the broader payments ecosystem, which has grown to include vendors, merchants, acquirers, processors, and more. John Heggestuen, director of research atBI Intelligence, Business Insider’s premium research service, has compileda detailed report on the payments ecosystemthat drills into the industry to explain how a broad range of transactions are processed, including prepaid and store cards, as well as revealing which types of companies are in the best and worst position to capitalize on the latest industry trends. Here are some key takeaways from the report: • 2016 will be a watershed year for the payments industry. Payments companies are improving security, expanding theirmobile offerings, and building commerce capabilities that will give consumers a more compelling reason to make purchases using digital devices. • Payments is an extremely complex industry. To understand the next big digital opportunity lies, it's critical to understand how the traditional credit- and debit-processing chain works and what roles acquirers, processors, issuing banks, card networks, independent sales organizations, gateways, and software and hardware providers play. • Alternative technologies could disrupt the processing ecosystem. Devices ranging from refrigerators to smartwatches now feature payment capabilities, which will spur changes in consumer payment behaviors. Likewise, blockchain technology, the protocol that underlies Bitcoin, could one day change how consumer card payments are verified. In full, the report: • Uncovers the key themes and trends affecting the payments industry in 2016 and beyond. • Gives a detailed description of the stakeholders involved in a payment transaction, along with hardware and software providers. • Offers diagrams and infographics explaining how card transactions are processed and which players are involved in each step. • Provides charts on our latest forecasts, key company growth, survey results, and more. • Analyzes the alternative technologies, including blockchain, which could further disrupt the ecosystem. To get your copy of this invaluable guide, choose one of these options: 1. Subscribe to an ALL-ACCESS Membership with BI Intelligence and gain immediate access to this report AND over 100 other expertly researched deep-dive reports, subscriptions to all of our daily newsletters, and much more. >>START A MEMBERSHIP 2. Purchase the report and download it immediately from our research store. >>BUY THE REPORT The choice is yours. But however you decide to acquire this report, you’ve given yourself a powerful advantage in your understanding of the payments ecosystem. More From Business Insider • European acquirer Worldpay is piloting a phone-based mobile point-of-sale platform • Samsung Pay expands beyond the Galaxy in India • Amazon's new Prime Reload program rewards users but challenges banks \|\| Bitcoin is having trouble getting through $900: Bitcoin holds little changed near $891 a coin as of 7:02 a.m. ET. The cryptocurrency is contending with resistance in the $900 area for the third straight session. Bitcoin raced to more than $916 on Tuesday but was unable to break out above the early-January resistance level. Bitcoin has gotten off to a wild start in 2017. Buying in the opening days of the year lifted its price more than 20% and above $1,000 for the first time since November 2013. However, rumblings about a crackdown on trading in China have caused jitters as of late. Beijingannouncedit had beguninvestigating bitcoin exchangesin Beijing and Shanghai on suspicion of market manipulation, money laundering, unauthorized financing, and other issues.The price crashed 35% to nearly $750 before finding support and working its way back up to resistance in the $900 area. Thursday's action has to alleviate some concerns regarding the trading environment in China as Beijing announced it wastightening capital controls even further. While the rules were aimed atoutbound investments by centrally-controlled state firms, it is still notable thatbitcoin has so far been spared. In a note to clients on Wednesday, Deutsche Bank's Torsten Sløk showed howChina dominates the global bitcoin market, accounting for nearly 100% of the trading. (Investing.com) NOW WATCH:Here's how to use one of the many apps to buy and trade bitcoin More From Business Insider • Bitcoin is soaring • Bitcoin is making a comeback • Bitcoin is charging higher \|\| Bitcoin is having trouble getting through $900: Bitcoin holds little changed near $891 a coin as of 7:02 a.m. ET. The cryptocurrency is contending with resistance in the $900 area for the third straight session. Bitcoin raced to more than $916 on Tuesday but was unable to break out above the early-January resistance level. Bitcoin has gotten off to a wild start in 2017. Buying in the opening days of the year lifted its price more than 20% and above $1,000 for the first time since November 2013. However, rumblings about a crackdown on trading in China have caused jitters as of late. Beijingannouncedit had beguninvestigating bitcoin exchangesin Beijing and Shanghai on suspicion of market manipulation, money laundering, unauthorized financing, and other issues.The price crashed 35% to nearly $750 before finding support and working its way back up to resistance in the $900 area. Thursday's action has to alleviate some concerns regarding the trading environment in China as Beijing announced it wastightening capital controls even further. While the rules were aimed atoutbound investments by centrally-controlled state firms, it is still notable thatbitcoin has so far been spared. In a note to clients on Wednesday, Deutsche Bank's Torsten Sløk showed howChina dominates the global bitcoin market, accounting for nearly 100% of the trading. (Investing.com) NOW WATCH:Here's how to use one of the many apps to buy and trade bitcoin More From Business Insider • Bitcoin is soaring • Bitcoin is making a comeback • Bitcoin is charging higher \|\| Bitcoin is having trouble getting through $900: Bitcoin holds little changed near $891 a coin as of 7:02 a.m. ET. The cryptocurrency is contending with resistance in the $900 area for the third straight session. Bitcoin raced to more than $916 on Tuesday but was unable to break out above the early-January resistance level. Bitcoin has gotten off to a wild start in 2017. Buying in the opening days of the year lifted its price more than 20% and above $1,000 for the first time since November 2013. However, rumblings about a crackdown on trading in China have caused jitters as of late. Beijing announced it had begun investigating bitcoin exchanges in Beijing and Shanghai on suspicion of market manipulation, money laundering, unauthorized financing, and other issues. The price crashed 35% to nearly $750 before finding support and working its way back up to resistance in the $900 area. Thursday's action has to alleviate some concerns regarding the trading environment in China as Beijing announced it was tightening capital controls even further . While the rules were aimed at outbound investments by centrally-controlled state firms, it is still notable that bitcoin has so far been spared. In a note to clients on Wednesday, Deutsche Bank's Torsten Sløk showed how China dominates the global bitcoin market , accounting for nearly 100% of the trading. Bitcoin (Investing.com) NOW WATCH: Here's how to use one of the many apps to buy and trade bitcoin More From Business Insider Bitcoin is soaring Bitcoin is making a comeback Bitcoin is charging higher \|\| Bitcoin exchange BTCC: China hasn't said margin trading illegal: By Brenda Goh SHANGHAI (Reuters) - The head of Chinese bitcoin exchange BTCC on Thursday denied media reports that the central bank had ruled it was offering margin loans illegally, and he said the platform is operating normally. However, Chief Executive Bobby Lee told Reuters the company had stopped offering margin loans last week alongside competitors such as Huobi and OkCoin, after "discussions" with the People's Bank of China (PBOC). He gave no details. "No one has said that margin trading for bitcoin is illegal," Lee said. He said the media reports were "not based on any official documentation. So as far as I'm concerned, at this moment, we have not received any official documentation, verbal or written feedback from the PBOC with regards to their conversations with us over the last two weeks." The PBOC declined to comment. Beijing Youth Daily, a state-run newspaper, said on Thursday that a PBOC investigation found that China's three largest bitcoin exchanges were illegally conducting margin trading, and such activity stoked abnormal market volatility. Another state-owned media, Economic Information Daily, said that the Shanghai branch of China's central bank had found "hidden risks" in BTCC. SPOT CHECKS On Jan. 11, the central bank launched spot checks on BTCC, Huobi and OkCoin to look into a range of possible rule violations, amid increasing government efforts to stem capital outflows and relieve pressure on the yuan currency. While the yuan weakened 6.6 percent against the dollar last year, its worst performance since 1994, the bitcoin price has soared to near-record highs. Late on Wednesday, after some Chinese media reports were published, the price of bitcoin fell nearly 8 percent on the BTCC exchange to 5,724 yuan, equivalent to around $835. By Thursday, the price had recovered to around 6,120 yuan. Spokeswomen for OkCoin and Huobi confirmed to Reuters that their platforms had also stopped offering margin loans, but both did not respond to queries on whether they had received official notices from the PBOC. Story continues Lee of BTCC also said the exchanges had discussed introducing trading fees and were open to that, but said the regulator might have to get involved before this could happen. The absence of trading fees has encouraged volumes and boosted demand at the Chinese bitcoin exchanges. (Reporting by Brenda Goh; Editing by Richard Borsuk) \|\| Bitcoin exchange BTCC: China hasn't said margin trading illegal: By Brenda Goh SHANGHAI (Reuters) - The head of Chinese bitcoin exchange BTCC on Thursday denied media reports that the central bank had ruled it was offering margin loans illegally, and he said the platform is operating normally. However, Chief Executive Bobby Lee told Reuters the company had stopped offering margin loans last week alongside competitors such as Huobi and OkCoin, after "discussions" with the People's Bank of China (PBOC). He gave no details. "No one has said that margin trading for bitcoin is illegal," Lee said. He said the media reports were "not based on any official documentation. So as far as I'm concerned, at this moment, we have not received any official documentation, verbal or written feedback from the PBOC with regards to their conversations with us over the last two weeks." The PBOC declined to comment. Beijing Youth Daily, a state-run newspaper, said on Thursday that a PBOC investigation found that China's three largest bitcoin exchanges were illegally conducting margin trading, and such activity stoked abnormal market volatility. Another state-owned media, Economic Information Daily, said that the Shanghai branch of China's central bank had found "hidden risks" in BTCC. SPOT CHECKS On Jan. 11, the central bank launched spot checks on BTCC, Huobi and OkCoin to look into a range of possible rule violations, amid increasing government efforts to stem capital outflows and relieve pressure on the yuan currency. While the yuan weakened 6.6 percent against the dollar last year, its worst performance since 1994, the bitcoin price has soared to near-record highs. Late on Wednesday, after some Chinese media reports were published, the price of bitcoin fell nearly 8 percent on the BTCC exchange to 5,724 yuan, equivalent to around $835. By Thursday, the price had recovered to around 6,120 yuan. Spokeswomen for OkCoin and Huobi confirmed to Reuters that their platforms had also stopped offering margin loans, but both did not respond to queries on whether they had received official notices from the PBOC. Story continues Lee of BTCC also said the exchanges had discussed introducing trading fees and were open to that, but said the regulator might have to get involved before this could happen. The absence of trading fees has encouraged volumes and boosted demand at the Chinese bitcoin exchanges. (Reporting by Brenda Goh; Editing by Richard Borsuk) \|\| Bitcoin exchange BTCC: China hasn't said margin trading illegal: By Brenda Goh SHANGHAI (Reuters) - The head of Chinese bitcoin exchange BTCC on Thursday denied media reports that the central bank had ruled it was offering margin loans illegally, and he said the platform is operating normally. However, Chief Executive Bobby Lee told Reuters the company had stopped offering margin loans last week alongside competitors such as Huobi and OkCoin, after "discussions" with the People's Bank of China (PBOC). He gave no details. "No one has said that margin trading for bitcoin is illegal," Lee said. He said the media reports were "not based on any official documentation. So as far as I'm concerned, at this moment, we have not received any official documentation, verbal or written feedback from the PBOC with regards to their conversations with us over the last two weeks." The PBOC declined to comment. Beijing Youth Daily, a state-run newspaper, said on Thursday that a PBOC investigation found that China's three largest bitcoin exchanges were illegally conducting margin trading, and such activity stoked abnormal market volatility. Another state-owned media, Economic Information Daily, said that the Shanghai branch of China's central bank had found "hidden risks" in BTCC. SPOT CHECKS On Jan. 11, the central bank launched spot checks on BTCC, Huobi and OkCoin to look into a range of possible rule violations, amid increasing government efforts to stem capital outflows and relieve pressure on the yuan currency. While the yuan weakened 6.6 percent against the dollar last year, its worst performance since 1994, the bitcoin price has soared to near-record highs. Late on Wednesday, after some Chinese media reports were published, the price of bitcoin fell nearly 8 percent on the BTCC exchange to 5,724 yuan, equivalent to around $835. By Thursday, the price had recovered to around 6,120 yuan. Spokeswomen for OkCoin and Huobi confirmed to Reuters that their platforms had also stopped offering margin loans, but both did not respond to queries on whether they had received official notices from the PBOC. Story continues Lee of BTCC also said the exchanges had discussed introducing trading fees and were open to that, but said the regulator might have to get involved before this could happen. The absence of trading fees has encouraged volumes and boosted demand at the Chinese bitcoin exchanges. (Reporting by Brenda Goh; Editing by Richard Borsuk) \|\| Bitcoin is fighting back: Bitcoin has recouped a good portion of its early losses. The cryptocurrency trades down 2.8%, or almost $26, at $880 a coin as of 11:05 a.m. ET. That's a notable recovery from the drop less than $853 that occurred early in US trade. Bitcoin raced above $915 late Tuesday night but struggle to take out resistance in the $880/$920 area. The cryptocurrency has had avolatilestart to the year after gaining 120% in 2016, making it theworld's top performing currencyfor a second straight year. It raced to a gain of more than 20% in the opening days of 2017 before rumblings that China was going tocrackdownon trading began to surface. Then, nearly a week later, China announcedit had beguninvestigating bitcoin exchangesin Beijing and Shanghai on suspicion of market manipulation, money laundering, unauthorized financing, and other issues. When the dust settled bitcoin had lost35% of its value in a handful of days. The price bottomed out after finding support in the $750/$800 area and has managed to fight its way back to the current resistance level. (Investing.com) NOW WATCH:Here's how to use one of the many apps to buy and trade bitcoin More From Business Insider • Bitcoin is making a comeback • Bitcoin is charging higher • Bitcoin is getting demolished \|\| Bitcoin is fighting back: Bitcoin has recouped a good portion of its early losses. The cryptocurrency trades down 2.8%, or almost $26, at $880 a coin as of 11:05 a.m. ET. That's a notable recovery from the drop less than $853 that occurred early in US trade. Bitcoin raced above $915 late Tuesday night but struggle to take out resistance in the $880/$920 area. The cryptocurrency has had avolatilestart to the year after gaining 120% in 2016, making it theworld's top performing currencyfor a second straight year. It raced to a gain of more than 20% in the opening days of 2017 before rumblings that China was going tocrackdownon trading began to surface. Then, nearly a week later, China announcedit had beguninvestigating bitcoin exchangesin Beijing and Shanghai on suspicion of market manipulation, money laundering, unauthorized financing, and other issues. When the dust settled bitcoin had lost35% of its value in a handful of days. The price bottomed out after finding support in the $750/$800 area and has managed to fight its way back to the current resistance level. (Investing.com) NOW WATCH:Here's how to use one of the many apps to buy and trade bitcoin More From Business Insider • Bitcoin is making a comeback • Bitcoin is charging higher • Bitcoin is getting demolished \|\| Bitcoin is fighting back: Bitcoin has recouped a good portion of its early losses. The cryptocurrency trades down 2.8%, or almost $26, at $880 a coin as of 11:05 a.m. ET. That's a notable recovery from the drop less than $853 that occurred early in US trade. Bitcoin raced above $915 late Tuesday night but struggle to take out resistance in the $880/$920 area. The cryptocurrency has had a volatile start to the year after gaining 120% in 2016, making it the world's top performing currency for a second straight year. It raced to a gain of more than 20% in the opening days of 2017 before rumblings that China was going to crackdown on trading began to surface. Then, nearly a week later, China announced it had begun investigating bitcoin exchanges in Beijing and Shanghai on suspicion of market manipulation, money laundering, unauthorized financing, and other issues. When the dust settled bitcoin had lost 35% of its value in a handful of days. The price bottomed out after finding support in the $750/$800 area and has managed to fight its way back to the current resistance level. Bitcoin (Investing.com) NOW WATCH: Here's how to use one of the many apps to buy and trade bitcoin More From Business Insider Bitcoin is making a comeback Bitcoin is charging higher Bitcoin is getting demolished \|\| One country dominates the global bitcoin market: Almost all bitcoin trading is done in China. The share of the cryptocurrency that's traded via China's mainland currency escalated over the past few years, overtaking the US dollar as the dominant currency. From less than a 10% share in January 2012, the yuan now makes up nearly 100% of all bitcoin trading. Bitcoin surged 120% last year,outperformingevery other currency in the world. It kicked off 2017 byrising above $1,000for the first time since 2013. Those moves were made possible largelybecause of China. Volumes of bitcoin trading increased as China's foreign reserves shrank, by about 8% to $3.05 trillion in 2016. Meanwhile, the yuan weakened against the dollar, hastening the rush of money out of the country and increasing interest in bitcoin. Last week, the cryptocurrency came under pressure after China announced it wasinvestigating exchangesin Beijing and Shanghai on suspicion of market manipulation, money laundering, and other issues. As of 8:34 a.m. ET on Wednesday,bitcoin traded down4.8%, or$43, near $862 per coin. It jumped above$915 late Tuesday night but struggled to take out resistance in the $880/$920 area. This chart shared by Deutsche Bank shows the staggering rise of China as the dominant trader of bitcoin. (Deutsche Bank) More From Business Insider • Bitcoin is charging higher • China's economy is at the mercy of a force completely beyond its control • Bitcoin is getting demolished \|\| One country dominates the global bitcoin market: Almost all bitcoin trading is done in China. The share of the cryptocurrency that's traded via China's mainland currency escalated over the past few years, overtaking the US dollar as the dominant currency. From less than a 10% share in January 2012, the yuan now makes up nearly 100% of all bitcoin trading. Bitcoin surged 120% last year, outperforming every other currency in the world. It kicked off 2017 by rising above $1,000 for the first time since 2013. Those moves were made possible largely because of China . Volumes of bitcoin trading increased as China's foreign reserves shrank, by about 8% to $3.05 trillion in 2016. Meanwhile, the yuan weakened against the dollar, hastening the rush of money out of the country and increasing interest in bitcoin. Last week, the cryptocurrency came under pressure after China announced it was investigating exchanges in Beijing and Shanghai on suspicion of market manipulation, money laundering, and other issues. As of 8:34 a.m. ET on Wednesday, bitcoin traded down 4.8%, or $43, near $862 per coin. It jumped above $915 late Tuesday night but struggled to take out resistance in the $880/$920 area. This chart shared by Deutsche Bank shows the staggering rise of China as the dominant trader of bitcoin. bitcoin countries COTD (Deutsche Bank) More From Business Insider Bitcoin is charging higher China's economy is at the mercy of a force completely beyond its control Bitcoin is getting demolished \|\| Endurance Specialty Unveils New Cyber Extortion Coverage: Endurance Specialty Holdings Ltd. ENH recently launched a new service that will help policyholders to better respond to cases of cyber ransom and extortion. The newly introduced service as it will be substantially value additive to the insurers innovative products and services portfolio. The property and casualty (P&C) insurer is optimistic about the service, which should boost its cyber response capabilities. Notably, Mullen Coughlin LLC, a leading incident response services provider and also the Endurance Specialtys Breach Assist Counsel, has been helping the insurers clients in dealing with cyber breach or other data security incident. This apart, computer forensic company Kivu Consulting, which has already been offering computer forensic investigation services, will now provide extortion response services. Both these companies have efficient and expert teams and specialize in providing guidance to ransomware victims to help them better respond to malicious attacks, including arranging for payment in Bitcoin or other cryptocurrency. Moreover, the teams analyze and test decryption keys to ensure security of the clients network. Shares of Endurance Specialty gained 38.43% in the last six months, significantly outperforming the Property and Casualty industrys growth of 9.19%. The new service will help policyholders to avoid disruption in their business operations and cement shareholders' confidence on the stock, leading to further share price movement. We note that strategic initiatives like these have improved the Zacks Rank #3 (Hold) P&C insurers organic portfolio as well as accelerated growth. Stocks to Consider Some better-ranked stocks from the same space include Aspen Insurance Holdings Limited AHL, Cincinnati Financial Corporation CINF and Mercury General Corporation MCY. Each of these stocks sports a Zacks Rank #1 (Strong Buy). You can see the complete list of todays Zacks #1 (Strong Buy) Rank stocks here . Story continues Aspen Insurance Holdings deals in insurance and reinsurance businesses worldwide. The company delivered positive surprise in one of the last four quarters, but with an average miss of 15.48%. Cincinnati Financial engages in the P&C insurance business in the United States. The company delivered positive surprises in all of the last four quarters with an average beat of 11.82%. Mercury General deals in writing personal automobile insurance in the United States. The company delivered positive surprises in two of the last four quarters, but with an average miss of 21.04%. Zacks' Top 10 Stocks for 2017 In addition to the stocks discussed above, would you like to know about our 10 finest buy-and-hold tickers for the entirety of 2017? Who wouldn't? As of early December, the 2016 Top 10 produced 5 double-digit winners including oil and natural gas giant Pioneer Natural Resources which racked up a stellar +50% gain. The new list is painstakingly hand-picked from 4,400 companies covered by the Zacks Rank. Be among the very first to see it>> Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Cincinnati Financial Corp. (CINF): Free Stock Analysis Report Endurance Specialty Holdings Ltd. (ENH): Free Stock Analysis Report Mercury General Corp. (MCY): Free Stock Analysis Report Aspen Insurance Holdings Ltd. (AHL): Free Stock Analysis Report To read this article on Zacks.com click here. \|\| Endurance Specialty Unveils New Cyber Extortion Coverage: Endurance Specialty Holdings Ltd. ENH recently launched a new service that will help policyholders to better respond to cases of cyber ransom and extortion. The newly introduced service as it will be substantially value additive to the insurers innovative products and services portfolio. The property and casualty (P&C) insurer is optimistic about the service, which should boost its cyber response capabilities. Notably, Mullen Coughlin LLC, a leading incident response services provider and also the Endurance Specialtys Breach Assist Counsel, has been helping the insurers clients in dealing with cyber breach or other data security incident. This apart, computer forensic company Kivu Consulting, which has already been offering computer forensic investigation services, will now provide extortion response services. Both these companies have efficient and expert teams and specialize in providing guidance to ransomware victims to help them better respond to malicious attacks, including arranging for payment in Bitcoin or other cryptocurrency. Moreover, the teams analyze and test decryption keys to ensure security of the clients network. Shares of Endurance Specialty gained 38.43% in the last six months, significantly outperforming the Property and Casualty industrys growth of 9.19%. The new service will help policyholders to avoid disruption in their business operations and cement shareholders' confidence on the stock, leading to further share price movement. We note that strategic initiatives like these have improved the Zacks Rank #3 (Hold) P&C insurers organic portfolio as well as accelerated growth. Stocks to Consider Some better-ranked stocks from the same space include Aspen Insurance Holdings Limited AHL, Cincinnati Financial Corporation CINF and Mercury General Corporation MCY. Each of these stocks sports a Zacks Rank #1 (Strong Buy). You can see the complete list of todays Zacks #1 (Strong Buy) Rank stocks here . Story continues Aspen Insurance Holdings deals in insurance and reinsurance businesses worldwide. The company delivered positive surprise in one of the last four quarters, but with an average miss of 15.48%. Cincinnati Financial engages in the P&C insurance business in the United States. The company delivered positive surprises in all of the last four quarters with an average beat of 11.82%. Mercury General deals in writing personal automobile insurance in the United States. The company delivered positive surprises in two of the last four quarters, but with an average miss of 21.04%. Zacks' Top 10 Stocks for 2017 In addition to the stocks discussed above, would you like to know about our 10 finest buy-and-hold tickers for the entirety of 2017? Who wouldn't? As of early December, the 2016 Top 10 produced 5 double-digit winners including oil and natural gas giant Pioneer Natural Resources which racked up a stellar +50% gain. The new list is painstakingly hand-picked from 4,400 companies covered by the Zacks Rank. Be among the very first to see it>> Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Cincinnati Financial Corp. (CINF): Free Stock Analysis Report Endurance Specialty Holdings Ltd. (ENH): Free Stock Analysis Report Mercury General Corp. (MCY): Free Stock Analysis Report Aspen Insurance Holdings Ltd. (AHL): Free Stock Analysis Report To read this article on Zacks.com click here. \|\| Endurance Insurance Introduces New Cyber Extortion Response Service: PEMBROKE, Bermuda - January 17, 2017 - Endurance Specialty Holdings Ltd. (ENH), a Bermuda-based specialty provider of property and casualty insurance and reinsurance, announced today that the company has introduced a new service enabling its insureds to better respond to ransomware and similar extortion events. Endurance`s Breach Assist Counsel, Mullen Coughlin LLC, a recognized leader in incident response legal services, coordinates with leading providers of forensic and response services to assist Endurance`s clients in the event of a data breach or other data security incident. Kivu Consulting, a computer forensic company, has been providing computer forensic investigation services as part of that network and will now also offer extortion response services. Mullen Coughlin`s and Kivu`s expert teams work with ransomware victims to guide them as they respond to malicious attacks, including arranging for payment in Bitcoin or other cryptocurrency, analyzing and testing decryption keys to ensure they are effectively and safely applied without further compromising the company`s network, and preparing documentation for reporting events to appropriate law enforcement agencies. Mr. Brad Gow, Senior Vice President, Endurance Pro, commented "Companies faced with ransomware are often ill equipped to obtain Bitcoin or other cryptocurrency under tight deadlines. By providing our policyholders with access to experts to guide them through the payment and decryption processes, we assist them to minimize disruption to their business operations and execute the crisis response in a manner that best protects our insured from future harm." Mr. Christopher Sparro, Chief Executive Officer of U.S. Insurance added, "We are excited about this new service as we continue to evolve our cyber response capabilities, adding innovative products and services for our clients. Mullen Coughlin and Kivu are two members of a selected team of best-in-class preferred vendors that our breach response team can access to assist our insureds to quickly and professionally respond to breaches." Mr. John Mullen, Partner, Mullen Coughlin, stated, "Rapid growth in ransomware attacks is impacting both small and large organizations. Given the increasing complexity of the attacks, some targets have experienced multiple extortions if they don`t effectively manage the initial response. We are extremely pleased to be offering these technical support services as they are a natural complement to the cyber extortion coverage that Endurance provides their clients." About Endurance Specialty Holdings Endurance Specialty Holdings Ltd. is a global specialty provider of property and casualty insurance and reinsurance. Through its operating subsidiaries, Endurance writes agriculture, professional lines, property, marine and energy, and casualty and other specialty lines of insurance and catastrophe, property, casualty, professional lines and specialty lines of reinsurance. We maintain excellent financial strength as evidenced by the ratings of A (Excellent) from A.M. Best (XV size category), A (Strong) from Standard and Poor`s and A2 from Moody`s on our principal operating subsidiaries. Endurance`s headquarters are located at Waterloo House, 100 Pitts Bay Road, Pembroke HM 08, Bermuda and its mailing address is Endurance Specialty Holdings Ltd., Suite No. 784, No. 48 Par-la-Ville Road, Hamilton HM 11, Bermuda. For more information about Endurance, please visitwww.endurance.bm. About Mullen Coughlin Mullen Coughlin LLC is a law firm uniquely dedicated to servicing insured organizations of every size and from every industry faced with data privacy crises, security incidents, and risks. Having handled thousands of such events, our accessible and motivated attorneys possess experience and talent with respect to the complicated and constantly changing risks to the security of information systems and data as well as the complex state, federal, and international laws imposing requirements on organizations. Founded by John Mullen, Chris DiIenno, Jim Prendergast, and Jennifer Coughlin, Mullen Coughlin is the largest team of experienced attorneys - currently 17 - uniquely focused on providing tailored data privacy and security incident response services under the umbrella of cyber insurance, as well as pre-breach planning and compliance, breach response, regulatory investigation and management, and privacy litigation defense. Mullen Coughlin services organizations from every sector, including: Financial Services, Healthcare, Retail, Education, Government and Non-Profit and Professional Services. We think of ourselves as ".first, focused, and finest" when it comes to cyber counsel. ContactInvestor RelationsPhone: +1 441 278 0988Email: [email protected] # # # This announcement is distributed by NASDAQ OMX Corporate Solutions on behalf of NASDAQ OMX Corporate Solutions clients.The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.Source: Endurance Specialty Holdings Ltd via GlobeNewswireHUG#2071736 [Social Media Buzz] 1 KOBO = 0.00000350 BTC = 0.0032 USD = 1.0080 NGN = 0.0435 ZAR = 0.3317 KES #Kobocoin 2017-01-21 19:00 \|\| 08:00 Ascot AU https://tinyurl.com/directbet-eu or call me at BITCOIN \|\| #SativaCoin #STV $0.003077 (2.72%) 0.00000334 BTC (0.00%) \|\| 09:00 Toowoomba AU https://tinyurl.com/directbet-eu or call me at BITCOIN \|\| Current price of Bitcoin is $925.00. \|\| $918.82 #bitfinex; $918.83 #bitstamp; $920.18 #GDAX; $913.00 #btce; $922.01 #gemini; $919.85 #itBit; #bitcoin new… http://bit....	924.67, 921.01, 892.69, 901.54, 917.59, 919.75, 921.59, 919.50, 920.38, 970.40
Given the historical Bitcoin prices from the last 90 days, predict the next 10 daily closing prices. The historical prices are: 45593.64, 44428.29, 47793.32, 47096.95, 47047.00, 46004.48, 44695.36, 44801.19, 46717.58, 49339.18, 48905.49, 49321.65, 49546.15, 47706.12, 48960.79, 46942.22, 49058.67, 48902.40, 48829.83, 47054.98, 47166.69, 48847.03, 49327.72, 50025.38, 49944.62, 51753.41, 52633.54, 46811.13, 46091.39, 46391.42, 44883.91, 45201.46, 46063.27, 44963.07, 47092.49, 48176.35, 47783.36, 47267.52, 48278.36, 47260.22, 42843.80, 40693.68, 43574.51, 44895.10, 42839.75, 42716.59, 43208.54, 42235.73, 41034.54, 41564.36, 43790.89, 48116.94, 47711.49, 48199.95, 49112.90, 51514.81, 55361.45, 53805.98, 53967.85, 54968.22, 54771.58, 57484.79, 56041.06, 57401.10, 57321.52, 61593.95, 60892.18, 61553.62, 62026.08, 64261.99, 65992.84, 62210.17, 60692.27, 61393.62, 60930.84, 63039.82, 60363.79, 58482.39, 60622.14, 62227.96, 61888.83, 61318.96, 61004.41, 63226.40, 62970.05, 61452.23, 61125.68, 61527.48, 63326.99, 67566.83.	[Bitcoin Technical Analysis for 2021-11-08] Volume: 41125608330, RSI (14-day): 68.10, 50-day EMA: 57173.80, 200-day EMA: 47544.40 [Wider Market Context] Gold Price: 1827.40, Gold RSI: 61.83 Oil Price: 81.93, Oil RSI: 54.88 [Recent News (last 7 days)] First Mover Asia: Bitcoin Rises Amid Light Weekend Trading: Good morning, Here’s what’s happening: Market Moves: Bitcoin rose over the past 24 hours, and the leading cryptocurrency by market capitalization experienced low volatility. Technician’s Take: Bitcoin is holding support at $60K, and slowing momentum suggests a period of consolidation. Watch CoinDesk TV for insightful interviews with crypto industry leaders and analysis. Bitcoin ( BTC ): $62,877.06 Ether ( ETH ): 4,601.22 Market moves Bitcoin continued to hover comfortably above $60,000. At the time of publication, it was $62,877.06, up 2.4% in the past 24 hours. The No. 1 cryptocurrency by market capitalization experienced low volatility over the weekend, as bitcoin’s trading volume was thin across centralized exchanges tracked by CoinDesk. Ether, the second highest cryptocurrency, also rose over the past 24 hours. However, the transaction fees on the Ethereum blockchain are soaring. Data from BitInfoCharts shows that the average transaction fee on Ethereum was $41.50 on Saturday, nearly triple from three months ago. A few notable winners outside bitcoin in the past 24 hours were XRP (XRP), internet computer (ICP) and cosmos (ATOM). Among the biggest losers were solana (SOL) and shiba inu (SHIB). At the time of publication the price of 15 of the top 20 cryptocurrencies as listed by CoinDesk had gained. The market’s main narrative has shifted to altcoins (alternative cryptocurrencies) as bitcoin’s market dominance continues to drop. Entering the week, tokens associated with layer 1 blockchains, including avalanche (AVAX) and solana, continue to grab the market’s attention as ether’s transaction fees surge . Technician’s take Bitcoin Faces Resistance Near $64K, Support Between $55K-$60K Bitcoin (BTC) continues to trade in a tight range, although buyers appear to be holding support above $60,000. Short-term indicators are neutral, although pullbacks could be limited given a series of price breakouts over the past month. If buyers fail to hold $60,000, lower support around the 50-day moving average, currently near $55,000, could stabilize a pullback. Story continues After remaining flat on Friday, bitcoin rose to nearly $63,000 at the time of publication of First Mover Asia, rising almost 4% over the weekend. For now, upside momentum is slowing, which suggests a period of consolidation could persist in the short term. Eventually, indicators suggest momentum could improve to support a breakout in BTC above $65,000 based on positive historical returns in the fourth quarter. Important events Be on the lookout for the following today: 1:00 p.m. Hong Kong/Singapore (5:00 a.m. UTC): Japan Leading Economic Index (September) 5:30 p.m. Hong Kong/Singapore (9:30 a.m. UTC): Sentix Investor Confidence (Eurozone) On CoinDesk TV In case you missed it , here are the most recent episodes of “First Mover” on CoinDesk TV : Circle CEO and Founder Jeremy Allaire on White House Stablecoin Report “First Mover” hosts spoke with stablecoin USDC issuer Circle CEO Jeremy Allaire as the company faces increasing scrutiny from regulators amid the Biden Administration’s stablecoin report. Voyager Digital CEO Steve Ehrlich shared insights into the multi-year partnership signed with Mark Cuban’s Dallas Mavericks. Plus, Blockchain Research Institute Co-founder and Executive Chairman Don Tapscott shared his take on big tech diving into the metaverse . Latest headlines House Sends Infrastructure Bill With Crypto Tax Provision to US President Market Wrap: Bitcoin Could Break Out and Rise With Altcoins Next Week Kazakhstan Passes Law to Monitor Crypto Services for Money Laundering, Terrorism Financing Enter the Margaritaverse: My Week at NFT.NYC What Bitcoin and Ether’s Options Tell Us About Their Maturity \|\| First Mover Asia: Bitcoin Rises Amid Light Weekend Trading: Good morning, Here’s what’s happening: • Market Moves:Bitcoin rose over the past 24 hours, and the leading cryptocurrency by market capitalization experienced low volatility. • Technician’s Take:Bitcoin is holding support at $60K, and slowing momentum suggests a period of consolidation. • WatchCoinDesk TVfor insightful interviews with crypto industry leaders and analysis. Bitcoin (BTC): $62,877.06 Ether (ETH): 4,601.22 Bitcoincontinued to hover comfortably above $60,000. At the time of publication, it was $62,877.06, up 2.4% in the past 24 hours. The No. 1 cryptocurrency by market capitalization experienced low volatility over the weekend, as bitcoin’s trading volume was thin across centralized exchanges tracked by CoinDesk. Ether, the second highest cryptocurrency, also rose over the past 24 hours. However, the transaction fees on the Ethereum blockchain are soaring. Data fromBitInfoChartsshows that the average transaction fee on Ethereum was $41.50 on Saturday, nearly triple from three months ago. A few notable winners outside bitcoin in the past 24 hours were XRP (XRP), internet computer (ICP) and cosmos (ATOM). Among the biggest losers were solana (SOL) and shiba inu (SHIB). At the time of publication the price of 15 of the top 20 cryptocurrencies as listed by CoinDesk had gained. The market’s main narrative has shifted to altcoins (alternative cryptocurrencies) as bitcoin’s market dominance continues to drop. Entering the week, tokens associated with layer 1 blockchains, including avalanche (AVAX) and solana, continue to grab the market’s attention as ether’stransaction fees surge. Bitcoin Faces Resistance Near $64K, Support Between $55K-$60K Bitcoin (BTC) continues to trade in a tight range, although buyers appear to be holding support above $60,000. Short-term indicators are neutral, although pullbacks could be limited given a series of price breakouts over the past month. If buyers fail to hold $60,000, lower support around the 50-day moving average, currently near $55,000, could stabilize a pullback. After remaining flat on Friday, bitcoin rose to nearly $63,000 at the time of publication of First Mover Asia, rising almost 4% over the weekend. For now, upside momentum is slowing, which suggests a period of consolidation could persist in the short term. Eventually, indicators suggest momentum could improve to support a breakout in BTC above $65,000 based on positive historical returns in the fourth quarter. Be on the lookoutfor the following today: • 1:00 p.m. Hong Kong/Singapore (5:00 a.m. UTC): Japan Leading Economic Index (September) • 5:30 p.m. Hong Kong/Singapore (9:30 a.m. UTC): Sentix Investor Confidence (Eurozone) In case you missed it, here are the most recent episodes of“First Mover”onCoinDesk TV: Circle CEO and Founder Jeremy Allaire on White House Stablecoin Report “First Mover” hosts spoke with stablecoin USDC issuer Circle CEO Jeremy Allaire as the company faces increasing scrutiny from regulators amid the Biden Administration’s stablecoin report. Voyager Digital CEO Steve Ehrlich shared insights into the multi-year partnership signed with Mark Cuban’s Dallas Mavericks. Plus, Blockchain Research Institute Co-founder and Executive Chairman Don Tapscott shared his take on big tech diving into themetaverse. House Sends Infrastructure Bill With Crypto Tax Provision to US President Market Wrap: Bitcoin Could Break Out and Rise With Altcoins Next Week Kazakhstan Passes Law to Monitor Crypto Services for Money Laundering, Terrorism Financing Enter the Margaritaverse: My Week at NFT.NYC What Bitcoin and Ether’s Options Tell Us About Their Maturity \|\| First Mover Asia: Bitcoin Rises Amid Light Weekend Trading: Good morning, Here’s what’s happening: • Market Moves:Bitcoin rose over the past 24 hours, and the leading cryptocurrency by market capitalization experienced low volatility. • Technician’s Take:Bitcoin is holding support at $60K, and slowing momentum suggests a period of consolidation. • WatchCoinDesk TVfor insightful interviews with crypto industry leaders and analysis. Bitcoin (BTC): $62,877.06 Ether (ETH): 4,601.22 Bitcoincontinued to hover comfortably above $60,000. At the time of publication, it was $62,877.06, up 2.4% in the past 24 hours. The No. 1 cryptocurrency by market capitalization experienced low volatility over the weekend, as bitcoin’s trading volume was thin across centralized exchanges tracked by CoinDesk. Ether, the second highest cryptocurrency, also rose over the past 24 hours. However, the transaction fees on the Ethereum blockchain are soaring. Data fromBitInfoChartsshows that the average transaction fee on Ethereum was $41.50 on Saturday, nearly triple from three months ago. A few notable winners outside bitcoin in the past 24 hours were XRP (XRP), internet computer (ICP) and cosmos (ATOM). Among the biggest losers were solana (SOL) and shiba inu (SHIB). At the time of publication the price of 15 of the top 20 cryptocurrencies as listed by CoinDesk had gained. The market’s main narrative has shifted to altcoins (alternative cryptocurrencies) as bitcoin’s market dominance continues to drop. Entering the week, tokens associated with layer 1 blockchains, including avalanche (AVAX) and solana, continue to grab the market’s attention as ether’stransaction fees surge. Bitcoin Faces Resistance Near $64K, Support Between $55K-$60K Bitcoin (BTC) continues to trade in a tight range, although buyers appear to be holding support above $60,000. Short-term indicators are neutral, although pullbacks could be limited given a series of price breakouts over the past month. If buyers fail to hold $60,000, lower support around the 50-day moving average, currently near $55,000, could stabilize a pullback. After remaining flat on Friday, bitcoin rose to nearly $63,000 at the time of publication of First Mover Asia, rising almost 4% over the weekend. For now, upside momentum is slowing, which suggests a period of consolidation could persist in the short term. Eventually, indicators suggest momentum could improve to support a breakout in BTC above $65,000 based on positive historical returns in the fourth quarter. Be on the lookoutfor the following today: • 1:00 p.m. Hong Kong/Singapore (5:00 a.m. UTC): Japan Leading Economic Index (September) • 5:30 p.m. Hong Kong/Singapore (9:30 a.m. UTC): Sentix Investor Confidence (Eurozone) In case you missed it, here are the most recent episodes of“First Mover”onCoinDesk TV: Circle CEO and Founder Jeremy Allaire on White House Stablecoin Report “First Mover” hosts spoke with stablecoin USDC issuer Circle CEO Jeremy Allaire as the company faces increasing scrutiny from regulators amid the Biden Administration’s stablecoin report. Voyager Digital CEO Steve Ehrlich shared insights into the multi-year partnership signed with Mark Cuban’s Dallas Mavericks. Plus, Blockchain Research Institute Co-founder and Executive Chairman Don Tapscott shared his take on big tech diving into themetaverse. House Sends Infrastructure Bill With Crypto Tax Provision to US President Market Wrap: Bitcoin Could Break Out and Rise With Altcoins Next Week Kazakhstan Passes Law to Monitor Crypto Services for Money Laundering, Terrorism Financing Enter the Margaritaverse: My Week at NFT.NYC What Bitcoin and Ether’s Options Tell Us About Their Maturity \|\| A Quiet Economic Calendar Leaves Central Bank Chatter in Focus: It was a particularly quiet start to the day on theeconomic calendarthis morning. There were no major stats for the markets to consider in the early hours. With no stats to consider, the markets had an opportunity to respond to Friday’s U.S nonfarm payrolls. Over the weekend, trade data for China also influenced, however. In October, China’s U.S Dollar trade surplus widened from US$66.76bn to US$84.54bn. Economists had forecast a narrowing to US$65.55bn. • Year-on-year, exports were up 27.7% versus a forecasted 24.5%. In September, exports had risen by 28.1%. Imports increased by 20.6%, versus a forecasted 25.0%. Imports had risen by 17.6% in September. In response, the Aussie Dollar struck an early morning high $0.74140 before falling back to sub-$0.74 levels. At the time of writing, theAussie Dollarwas down by 0.04% to $0.7397. At the time of writing, theJapanese Yenwas down by 0.04% to ¥113.450 against the U.S Dollar, with theKiwi Dollardown by 0.03% to $0.7115. It’s a particularly quiet day ahead on the economic calendar. There are no material stats due out of the Eurozone to provide the EUR with direction. The lack of stats will leave the EUR in the hands of market risk sentiment and central bank chatter. ECB member Lane is scheduled to speak late in the European session. At the time of writing, theEURwas down by 0.01% to $1.1566. It’s a particularly quiet day ahead on theeconomic calendar. There are no major stats due out of the UK to provide the Pound with direction. The lack of stats will leave the Pound in the hands of market risk sentiment. At the time of writing, thePoundwas down by 0.07% to $1.3489. It’s a quiet day ahead on the economic calendar. There are no material stats due out to provide the Dollar and the broader markets with direction. On the monetary policy front, FED Chair Powell is scheduled to speak. We don’t expect a shift from the transitory script on inflation. Other FOMC members may have a different take ahead of inflation figures on Tuesday and Wednesday. FOMC members Clarida and Bowman are due to speak late in the U.S session. On Friday, the U.S Dollar Spot Index slipped by 0.03% to end the day at 94.320. It’s a quiet day ahead. There are no material stats due out of Canada to provide the Loonie with direction. The lack of stats will leave the Loonie in the hands of crude oil prices and market risk sentiment. Upbeat trade data from China should deliver early support. At the time of writing, theLooniewas up by 0.02% to C$1.2454 against the U.S Dollar. For a look at all of today’s economic events, check out oureconomic calendar. Thisarticlewas originally posted on FX Empire • Crypto Investors Want Elon Musk to Sell Tesla Shares, Diversify • Shiba Inu Coin – Daily Tech Analysis – November 8th, 2021 • European Equities: A Quiet Economic Calendar Leaves Earnings and FED Chair Powell in Focus • Will Shiba Inu (SHIB) Reach 1 Cent? • Bitcoin Refreshes Monthly Highs Above $65K, Ether (ETH) Hits New ATH • A Quiet Economic Calendar Leaves Central Bank Chatter in Focus \|\| A Quiet Economic Calendar Leaves Central Bank Chatter in Focus: Earlier in the Day: It was a particularly quiet start to the day on the economic calendar this morning. There were no major stats for the markets to consider in the early hours. With no stats to consider, the markets had an opportunity to respond to Friday’s U.S nonfarm payrolls. Over the weekend, trade data for China also influenced, however. In October, China’s U.S Dollar trade surplus widened from US$66.76bn to US$84.54bn. Economists had forecast a narrowing to US$65.55bn. Year-on-year, exports were up 27.7% versus a forecasted 24.5%. In September, exports had risen by 28.1%. Imports increased by 20.6%, versus a forecasted 25.0%. Imports had risen by 17.6% in September. In response, the Aussie Dollar struck an early morning high $0.74140 before falling back to sub-$0.74 levels. At the time of writing, the Aussie Dollar was down by 0.04% to $0.7397. Elsewhere At the time of writing, the Japanese Yen was down by 0.04% to ¥113.450 against the U.S Dollar, with the Kiwi Dollar down by 0.03% to $0.7115. The Day Ahead For the EUR It’s a particularly quiet day ahead on the economic calendar. There are no material stats due out of the Eurozone to provide the EUR with direction. The lack of stats will leave the EUR in the hands of market risk sentiment and central bank chatter. ECB member Lane is scheduled to speak late in the European session. At the time of writing, the EUR was down by 0.01% to $1.1566. For the Pound It’s a particularly quiet day ahead on the economic calendar . There are no major stats due out of the UK to provide the Pound with direction. The lack of stats will leave the Pound in the hands of market risk sentiment. At the time of writing, the Pound was down by 0.07% to $1.3489. Across the Pond It’s a quiet day ahead on the economic calendar. There are no material stats due out to provide the Dollar and the broader markets with direction. On the monetary policy front, FED Chair Powell is scheduled to speak. We don’t expect a shift from the transitory script on inflation. Other FOMC members may have a different take ahead of inflation figures on Tuesday and Wednesday. Story continues FOMC members Clarida and Bowman are due to speak late in the U.S session. On Friday, the U.S Dollar Spot Index slipped by 0.03% to end the day at 94.320. For the Loonie It’s a quiet day ahead. There are no material stats due out of Canada to provide the Loonie with direction. The lack of stats will leave the Loonie in the hands of crude oil prices and market risk sentiment. Upbeat trade data from China should deliver early support. At the time of writing, the Loonie was up by 0.02% to C$1.2454 against the U.S Dollar. For a look at all of today’s economic events, check out our economic calendar . This article was originally posted on FX Empire More From FXEMPIRE: Crypto Investors Want Elon Musk to Sell Tesla Shares, Diversify Shiba Inu Coin – Daily Tech Analysis – November 8th, 2021 European Equities: A Quiet Economic Calendar Leaves Earnings and FED Chair Powell in Focus Will Shiba Inu (SHIB) Reach 1 Cent? Bitcoin Refreshes Monthly Highs Above $65K, Ether (ETH) Hits New ATH A Quiet Economic Calendar Leaves Central Bank Chatter in Focus \|\| ASX200: US Nonfarms and Trade Data from China to Deliver early Support: Economic Calendar Tuesday, 9 th November NAB Business Confidence (Oct) Wednesday, 10 th November Westpac Consumer Sentiment (Nov) Thursday, 11 th November Employment Change (Oct) Full Employment Change (Oct) Unemployment Rate (Oct) The Majors It was another bullish day for the ASX200 on Friday, which was up for a 3 rd consecutive day. Following a 0.48% gain on Thursday, the ASX200 rose by 0.39% to end the day at 7,456.94. A quiet economic calendar left the ASX200 to take its cues from the U.S ahead of U.S nonfarm payrolls late on Friday. From the RBA, an upbeat Statement of Monetary Policy also provided the ASX with support on the day. The Stats There were no material stats from Australia or China for the markets to consider through the Australian session. While there were no stats, the RBA’s Statement on Monetary Policy did draw interest. Salient points from the Statement Overview included: Conditions are in place for a sustained global recovery. Rapid increases in vaccination coverage in many countries have allowed restrictions to be eased, and economic activity to bounce back strongly. Expansionary fiscal and monetary policy have assisted in the recovery and continue to support the outlook. Global demand has strained global supply chains and logistic networks, as have disruptions to supply in some sectors. Central banks generally expect resulting inflationary pressures to ease and inflation to moderate over the year ahead. For the Australian economy, the recovery is rapid and consistent with the strong underlying momentum in the economy prior to the outbreak. GDP is expected to grow by 3% over 2021 and by around 5.5% over 2022 before easing back to around 2.5% over 2023. The impact of COVID-19 on the labor market is already receding, with the unemployment rate expected sit at under 5% by end of 2021. By end of 2023, the RBA expects the unemployment rate to reach 4%. Wage growth is expected to increase only gradually, however, due to spare capacity and inertia in the wage-setting process. The RBA expects wages to grow by around 3% by end of 2023, up from just 1.7% year-on-year to the June quarter. How consumption responds to higher household wealth is a key uncertainty for the outlook. Dwelling and business investment are both expected to lend momentum to the recovery. Story continues On the monetary policy front The Board is committed to maintaining highly supportive monetary conditions in order to: Achieve a return to full employment and inflation consistent with target. For inflation to be between 2 and 3% on a sustainable basis, the labor market will need to: Be tighter. Wage growth to be materially higher than they are at present. The board will not raise the cash rate until these criteria are met, and is prepared to be patient. The Market Movers It was a mixed day for the banks. CBA rose by 1.12% to lead the way, with NAB ending the day up by 0.80%. Macquarie Group and ANZ (+0.24%) and (+0.28%) also found support. Westpac bucked the trend, however, sliding by 2.80%. Commodity stocks had a bullish session. Newcrest Mining rallied by 3.55% to lead the way. BHP Group (+0.17%), Fortescue Metals Group Ltd (+0.64%), and Rio Tinto (+0.56%) saw relatively modest gains, however. Other Asian Markets Elsewhere, it was a bearish session, with the Hang Seng Index sliding by 1.41%. The CSI300 and the Nikkei 225 ended the day with relatively modest losses of 0.54% and 0.61% respectively. The Day Ahead It’s a quiet day ahead on the Asian economic calendar . There are no material stats due out of Australia or China to provide the ASX200 with direction. While there are no stats, we can expect market reaction to Friday’s nonfarm payrolls from the U.S and trade data from China. According to figures released over the weekend, China’s USD trade surplus widened from US$66.76bn to US$84.54bn. Economists had forecast a narrowing to US$65.55bn. Year-on-year, exports were up 27.7% versus a forecasted 24.5%. In September, exports had risen by 28.1%. Imports increased by 20.6%, versus a forecasted 25.0%. Imports had risen by 17.6% in September. Away from the economic calendar, corporate earnings and commodity prices will need monitoring. The Futures In the futures markets, at the time of writing, the ASX200 was up by 22 points. For a look at all of today’s economic events, check out our economic calendar . This article was originally posted on FX Empire More From FXEMPIRE: Bitcoin Refreshes Monthly Highs Above $65K, Ether (ETH) Hits New ATH Best Stocks, Crypto, and ETFs to Watch This Week – Disney, Boeing, Shiba Inu and IWM ETF In Focus Will Shiba Inu (SHIB) Reach 1 Cent? Shiba Inu Coin – Daily Tech Analysis – November 8th, 2021 Earnings Week Ahead: PayPal, Middleby, Walt Disney and AstraZeneca in Focus Rising risks of climate extreme events can lead to greater sovereign ratings divergence in Europe \|\| ASX200: US Nonfarms and Trade Data from China to Deliver early Support: Economic Calendar Tuesday, 9 th November NAB Business Confidence (Oct) Wednesday, 10 th November Westpac Consumer Sentiment (Nov) Thursday, 11 th November Employment Change (Oct) Full Employment Change (Oct) Unemployment Rate (Oct) The Majors It was another bullish day for the ASX200 on Friday, which was up for a 3 rd consecutive day. Following a 0.48% gain on Thursday, the ASX200 rose by 0.39% to end the day at 7,456.94. A quiet economic calendar left the ASX200 to take its cues from the U.S ahead of U.S nonfarm payrolls late on Friday. From the RBA, an upbeat Statement of Monetary Policy also provided the ASX with support on the day. The Stats There were no material stats from Australia or China for the markets to consider through the Australian session. While there were no stats, the RBA’s Statement on Monetary Policy did draw interest. Salient points from the Statement Overview included: Conditions are in place for a sustained global recovery. Rapid increases in vaccination coverage in many countries have allowed restrictions to be eased, and economic activity to bounce back strongly. Expansionary fiscal and monetary policy have assisted in the recovery and continue to support the outlook. Global demand has strained global supply chains and logistic networks, as have disruptions to supply in some sectors. Central banks generally expect resulting inflationary pressures to ease and inflation to moderate over the year ahead. For the Australian economy, the recovery is rapid and consistent with the strong underlying momentum in the economy prior to the outbreak. GDP is expected to grow by 3% over 2021 and by around 5.5% over 2022 before easing back to around 2.5% over 2023. The impact of COVID-19 on the labor market is already receding, with the unemployment rate expected sit at under 5% by end of 2021. By end of 2023, the RBA expects the unemployment rate to reach 4%. Wage growth is expected to increase only gradually, however, due to spare capacity and inertia in the wage-setting process. The RBA expects wages to grow by around 3% by end of 2023, up from just 1.7% year-on-year to the June quarter. How consumption responds to higher household wealth is a key uncertainty for the outlook. Dwelling and business investment are both expected to lend momentum to the recovery. Story continues On the monetary policy front The Board is committed to maintaining highly supportive monetary conditions in order to: Achieve a return to full employment and inflation consistent with target. For inflation to be between 2 and 3% on a sustainable basis, the labor market will need to: Be tighter. Wage growth to be materially higher than they are at present. The board will not raise the cash rate until these criteria are met, and is prepared to be patient. The Market Movers It was a mixed day for the banks. CBA rose by 1.12% to lead the way, with NAB ending the day up by 0.80%. Macquarie Group and ANZ (+0.24%) and (+0.28%) also found support. Westpac bucked the trend, however, sliding by 2.80%. Commodity stocks had a bullish session. Newcrest Mining rallied by 3.55% to lead the way. BHP Group (+0.17%), Fortescue Metals Group Ltd (+0.64%), and Rio Tinto (+0.56%) saw relatively modest gains, however. Other Asian Markets Elsewhere, it was a bearish session, with the Hang Seng Index sliding by 1.41%. The CSI300 and the Nikkei 225 ended the day with relatively modest losses of 0.54% and 0.61% respectively. The Day Ahead It’s a quiet day ahead on the Asian economic calendar . There are no material stats due out of Australia or China to provide the ASX200 with direction. While there are no stats, we can expect market reaction to Friday’s nonfarm payrolls from the U.S and trade data from China. According to figures released over the weekend, China’s USD trade surplus widened from US$66.76bn to US$84.54bn. Economists had forecast a narrowing to US$65.55bn. Year-on-year, exports were up 27.7% versus a forecasted 24.5%. In September, exports had risen by 28.1%. Imports increased by 20.6%, versus a forecasted 25.0%. Imports had risen by 17.6% in September. Away from the economic calendar, corporate earnings and commodity prices will need monitoring. The Futures In the futures markets, at the time of writing, the ASX200 was up by 22 points. For a look at all of today’s economic events, check out our economic calendar . This article was originally posted on FX Empire More From FXEMPIRE: Bitcoin Refreshes Monthly Highs Above $65K, Ether (ETH) Hits New ATH Best Stocks, Crypto, and ETFs to Watch This Week – Disney, Boeing, Shiba Inu and IWM ETF In Focus Will Shiba Inu (SHIB) Reach 1 Cent? Shiba Inu Coin – Daily Tech Analysis – November 8th, 2021 Earnings Week Ahead: PayPal, Middleby, Walt Disney and AstraZeneca in Focus Rising risks of climate extreme events can lead to greater sovereign ratings divergence in Europe \|\| Infrastructure Bill To Be Signed By President Biden Includes Tax Provision Concerning To Cryptocurrency Community: On Friday, the House of Representativespasseda $1.2 trillion infrastructure bill in a 228-206 vote, sending the legislation to President Joe Biden for his signature. The bipartisan infrastructure bill contains a cryptocurrency tax reporting requirement. The Infrastructure Investment and Jobs Act would put $550 billion of new funding into transportation projects, the utility grid, and broadband. Including $110 billion for roads, bridges, and other major projects, along with $66 billion for passenger and freight rail and $39 billion for public transit. There is a component within the bill for the crypto industry that seeks to expand the definition of a broker for IRS purposes. There is a high possibility that that definition could be too broad, capturing entities like miners and other parties that don’t facilitate transactions. Also Read:These Industries Stand To Benefit From The Infrastructure Bill — And These Companies Are Lobbying Against It The turmoil began when cryptocurrency provisions were added to the bill at the last minute in late July, with the stated goal of raising anestimated$28 billion by closing the crypto tax gap. The bill may have a negative impact onminingoperations in the US, although analysts expect the country to remain the undisputed leader in the cryptocurrency mining industry. Another provision included in the bill will amend tax code section 6050I, raising additional concerns in the crypto industry. The Treasury Department still has to explain how it plans to interpret the bill and publish guidance spelling out how businesses or other entities will comply with it.Also Read:T Infrastructure Bill Passes US Senate: What You Need To Know See more from Benzinga • Click here for options trades from Benzinga • Quantitative Analyst PlanB Predicts Bitcoin Price May Increase By 700% by 2022 • Shiba Inu, Dogecoin Dominate Indian Crypto Market, Emerge As The Most Traded Cryptos © 2021 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. \|\| Infrastructure Bill To Be Signed By President Biden Includes Tax Provision Concerning To Cryptocurrency Community: On Friday, the House of Representatives passed a $1.2 trillion infrastructure bill in a 228-206 vote, sending the legislation to President Joe Biden for his signature. The bipartisan infrastructure bill contains a cryptocurrency tax reporting requirement. The Infrastructure Investment and Jobs Act would put $550 billion of new funding into transportation projects, the utility grid, and broadband. Including $110 billion for roads, bridges, and other major projects, along with $66 billion for passenger and freight rail and $39 billion for public transit. There is a component within the bill for the crypto industry that seeks to expand the definition of a broker for IRS purposes. There is a high possibility that that definition could be too broad, capturing entities like miners and other parties that don’t facilitate transactions. Also Read: These Industries Stand To Benefit From The Infrastructure Bill — And These Companies Are Lobbying Against It The turmoil began when cryptocurrency provisions were added to the bill at the last minute in late July, with the stated goal of raising an estimated $28 billion by closing the crypto tax gap. The bill may have a negative impact on mining operations in the US, although analysts expect the country to remain the undisputed leader in the cryptocurrency mining industry. Another provision included in the bill will amend tax code section 6050I, raising additional concerns in the crypto industry. The Treasury Department still has to explain how it plans to interpret the bill and publish guidance spelling out how businesses or other entities will comply with it. Also Read: T Infrastructure Bill Passes US Senate: What You Need To Know See more from Benzinga Click here for options trades from Benzinga Quantitative Analyst PlanB Predicts Bitcoin Price May Increase By 700% by 2022 Shiba Inu, Dogecoin Dominate Indian Crypto Market, Emerge As The Most Traded Cryptos © 2021 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. View comments \|\| A Gen Z crypto millionaire says ether could overtake bitcoin as the No 1 crypto before mid-2022 - and could 'power the rails' of global finance: Rahul Rai, co-head of Market Neutral at BlockTower Capital. Rahul Rai Rahul Rai, a 24-year-old hedge fund founder, believes ether could overtake bitcoin in the next six or so months. The ethereum token has the potential to "power the rails of all global finance" through DeFi use, he told Insider. Ether has climbed to new highs recently, and there is around $100 billion in total value locked on the network. Sign up here for our daily newsletter, 10 Things Before the Opening Bell . Crypto hedge fund manager Rahul Rai believes the market will see ether overtake bitcoin in terms of market capitalization before the middle of next year, in what experts call " the flippening ". The native token of the ethereum network hit record highs above $4,600 this week, after CME Group, the world's largest derivatives exchange, said it would launch micro ether futures in early December. Ether's rise was propelled by a series of developments that underscored the growing momentum in the digital market beyond pure cryptocurrencies. Facebook recently said it would rebrand itself as Meta , in a nod to its commitment to expanding its activities in the metaverse, while metaverse gaming platform Sandbox raised $3 million in a day. Even K-pop sensations BTS are set to launch digital photocards in the form of non-fungible tokens (NFTs), thanks to a collaboration unveiled this week between their agency and South Korea's biggest cryptocurrency operator. The ethereum network now has around $100 billion total value locked onto it, according to The Block data. Yet ethereum is still very much second to bitcoin in terms of market value. This might not be the case for very much longer, according to Rai, the co-head of market neutral at BlockTower Capital. "I definitely think there's a really good chance for ether to surpass bitcoin. I wouldn't be surprised if it happened within the cycle," the 24-year-old told Insider. "Very tough to predict when this cycle will end. My take is mid-next year," he continued. Story continues Bitcoin is the number one crypto with a market capitalization of over $1 trillion, while ether is in second place with a market cap of $535 billion - meaning it's edging closer to its rival. Two years ago, bitcoin accounted for almost 67% of the entire crypto market, but its portion has dropped to 45%. Meanwhile, ether's market share has risen from 8.5% to nearly 20%. This year, bitcoin has hit record highs near $70,000, powered by major investors including the cryptocurrency in their portfolios as a means of diversifying their holdings and as a hedge against inflation. "Bitcoin is a store of value, it's digital gold. And so its market cap, at most, is going to be somewhere around gold - maybe larger, because it has some properties that are better than gold. But that's roughly the benchmark you're going to use to cap its market size," Rai said. Gold's market cap is currently around $11 trillion, according to CompaniesMarketCap data . Rai, who sold his crypto hedge fund Gamma Point Capital for $35 million this year, said the versatility of the ethereum network would be the key attraction for developers and investors alike. Ethereum is a layer one network that allows payments, lending, trading and staking . It enables peer-to-peer activity without a broker or bank as an intermediary. Unlike bitcoin's network, the blockchain is programmable, meaning it can run other applications such as smart contracts, NFTs and even the metaverse. "Ethereum is trying to power the rails of all of global finance in the future, and that is a much bigger market, if it does succeed," Rai said. "If it does succeed, and if the thesis plays out, then the market value is going to capture trillions of dollars in global activity, and that's a much bigger market than (what) bitcoin's going up (toward)," he added. Read the original article on Business Insider \|\| A Gen Z crypto millionaire says ether could overtake bitcoin as the No 1 crypto before mid-2022 - and could 'power the rails' of global finance: • Rahul Rai, a 24-year-old hedge fund founder, believes ether could overtake bitcoin in the next six or so months. • The ethereum token has the potential to "power the rails of all global finance" through DeFi use, he told Insider. • Ether has climbed to new highs recently, and there is around $100 billion in total value locked on the network. • Sign up here for our daily newsletter, 10 Things Before the Opening Bell. Crypto hedge fund manager Rahul Rai believes the market will see ether overtake bitcoin in terms of market capitalization before the middle of next year, in what experts call "the flippening". The native token of the ethereum network hit recordhighsabove $4,600 this week, after CME Group, the world's largest derivatives exchange, said it would launchmicro ether futuresin early December. Ether's rise was propelled by a series of developments that underscored the growing momentum in the digital market beyond pure cryptocurrencies. Facebook recently said it wouldrebrand itself as Meta, in a nod to its commitment to expanding its activities in the metaverse, while metaverse gaming platform Sandbox raised $3 million in a day. Even K-pop sensationsBTSare set to launch digital photocards in the form of non-fungible tokens (NFTs), thanks to a collaboration unveiled this week between their agency and South Korea's biggest cryptocurrency operator. The ethereum network now has around $100 billiontotal value lockedonto it, according to The Block data. Yet ethereum is still very much second to bitcoin in terms of market value. This might not be the case for very much longer, according to Rai, the co-head of market neutral at BlockTower Capital. "I definitely think there's a really good chance for ether to surpass bitcoin. I wouldn't be surprised if it happened within the cycle," the 24-year-old told Insider. "Very tough to predict when this cycle will end. My take is mid-next year," he continued. Bitcoin is the number one crypto with a market capitalization of over $1 trillion, while ether is in second place with a market cap of $535 billion - meaning it's edging closer to its rival. Two years ago, bitcoin accounted for almost 67% of the entire crypto market, but its portion has dropped to 45%. Meanwhile, ether's market share has risen from 8.5% to nearly 20%. This year, bitcoin has hit record highs near $70,000, powered by major investors including the cryptocurrency in their portfolios as a means of diversifying their holdings and as a hedge against inflation. "Bitcoin is a store of value, it's digital gold. And so its market cap, at most, is going to be somewhere around gold - maybe larger, because it has some properties that are better than gold. But that's roughly the benchmark you're going to use to cap its market size," Rai said. Gold's market cap is currently around $11 trillion, according to CompaniesMarketCapdata. Rai, who sold his crypto hedge fund Gamma Point Capital for $35 million this year, said the versatility of the ethereum network would be the key attraction for developers and investors alike. Ethereum is a layer one network that allows payments, lending, trading andstaking. It enables peer-to-peer activity without a broker or bank as an intermediary. Unlike bitcoin's network, the blockchain is programmable, meaning it can run other applications such as smart contracts, NFTs and even the metaverse. "Ethereum is trying to power the rails of all of global finance in the future, and that is a much bigger market, if it does succeed," Rai said. "If it does succeed, and if the thesis plays out, then the market value is going to capture trillions of dollars in global activity, and that's a much bigger market than (what) bitcoin's going up (toward)," he added. Read the original article onBusiness Insider \|\| Solana Hits Fresh All-Time High as Investors Place Bullish Bets: The leading cryptocurrencies are trading in the green today, including Ethereum rival blockchain Solana . The Solana price is up just over 1% in the last 24 hours and has seen its value balloon by more than 25% over the last week. The Solana price set a fresh all-time high this weekend of $260.06, leaving some investors to speculate whether it is on its way to overtaking rival cryptocurrency Ethereum . Solana is currently the fourth-biggest cryptocurrency with a market cap of $76 billion. And while it is inching closer to Ethereum, it is still far away considering Ethereums grip on the No. 2 spot in the crypto rankings with a market value of $544 billion. Solana investors are hoping for a day when SOL will surpass Ethereum as the go-to platform for smart contracts and muscle its competitor out of the No. 2 position. Crypto quant trader and analyst Benjamin Cowen, who has 370,000 followers on Twitter , has given those investors a reality check, predicting in no uncertain terms that Solana will not flip Ethereum in the rankings. I'm going to say it. #Solana will not flip #Ethereum Benjamin Cowen (@intocryptoverse) November 7, 2021 Ethereum is not Solanas only competition. Value investor Mike Alfred shared on Twitter that a large RIA firm has recently exited all of its Cardano position and half of its Solana holdings in favor of leading cryptocurrency bitcoin. Alfred predicts that others will follow in their footsteps. In recent days, Solana overtook Cardano on the cryptocurrency leaderboard in what has been an impressive week for the decentralized blockchain that is known for its speed and scalability. Just finished a dinner with the owners of a large RIA firm. While we were still sitting at the restaurant, they moved 100% of their Cardano and 50% of their Solana in to #Bitcoin . They finally get it and they won't be the last. Mike Alfred (@mikealfred) November 7, 2021 Solana and DeFi Solana has also seen its popularity soar in the decentralized finance (DeFi) market, where its total value locked (TVL) currently hovers at more than $15 billion. This is up from approximately $3.5 billion on Sept. 1. Story continues Developers who have had enough of Ethereums lofty fees are increasingly flocking to rival platforms like Solana. While Ethereum is likely around for the long haul, other blockchains are increasingly taking market share. Ethereum is transitioning to ETH 2.0, which is designed to solve the scalability and high-fee issues. Solana and NFTs Solanas profile for NFTs is also on the rise. According to NFT data aggregator CryptoSlam , which counts Mark Cuban among its backers, NFT sales on the Solana blockchain have surpassed $500 million since August, including $12 million in November so far. As long as the demand for NFTs and DeFi persists, the SOL price could have more room to run before the end of the year. This article was originally posted on FX Empire More From FXEMPIRE: Crypto Investors Want Elon Musk to Sell Tesla Shares, Diversify Long U.S Dollar Bets Fall Amid Exciting Jobs Data Some Chinese Websites Keep Promoting Cryptos Despite Crackdown How to Accept Crypto Payments Best Crypto Payment Processors for Your Business Ethereum, Litecoin, and Ripples XRP Daily Tech Analysis November 6th, 2021 ASX200: Weekly Wrap 05/11/2021 \|\| What Bitcoin and Ethers Options Tell Us About Their Maturity: In one of the most iconic scenes in American TV history, Jan Brady complains to her parents about all the attention her sister receives. Marcia, Marcia, Marcia Im tired of being in Marcias shadow all the time, Jan whines to her mom on season 3, episode 10 of The Brady Bunch in 1971. One could almost hear ether (ETH) kvetch in much the same manner about bitcoin (BTC). After all, ether is up around 500% since Jan. 1 while bitcoin has only doubled in that time. Yet, its bitcoin that is legal tender in one country and has several futures-based exchange-traded funds (ETF). And then some. While they are in the same asset class, comparing bitcoin to ether is tantamount to comparing apples to oranges for those with more than a cursory understanding of crypto. It turns out the derivatives markets agree about the difference in at least one subtle way: the relative volume of ether options to the spot market compared to that of bitcoin. That matters because higher options volume relative to spot is a sign of a mature market and can help with price discovery. To be sure, both ether and bitcoin have shown astounding growth in both their spot and options markets over the past year. Source: Skew, Bitstamp, Coinbase, FTX, Gemini, ItBit, Kraken, LMAX Digital. In October 2020, ether spot trades averaged roughly $93 million per day combined for seven major exchanges; a year later, that daily average was $1.6 billion, according to figures compiled by data provider Skew. Meanwhile, options daily volumes jumped to $335 million from a mere $23 million the previous year. [The seven bitcoin and ether spot exchanges tracked in this piece were Bitstamp, Coinbase, FTX, Gemini, ItBit, Kraken and LMAX Digital. While exchanges such as Binance were not included, one can still get a sense of the relative size of each spot market.] Bitcoins market was even bigger to start. The October daily spot volume average in 2020 was $395 million while the options market was $206 million. Fast forward 12 months later and it was $2.2 billion and $989 million, respectively. Story continues Still, when it comes to growth, ether was the more impressive of the two. Its spot market grew roughly 16x in one year and its options market nearly 15x. Bitcoins numbers gained just 5.7x and 4.8x, respectively. Thats a dream for any other market but small potatoes compared to ether. Its all relative Yet, when looking at those numbers, the relative size of each currencys options market to its spot market stood out. Again, the spot data we looked at are just from a handful of the exchanges where the assets trade. However, these were some of the biggest exchanges in the world, and their data is generally reliable. Therefore, they were helpful in giving a sense of whats happening in the markets. Going back to mid-June 2020 to now, bitcoin options volumes averaged 45% of spot while it was just 20% for ether. That isnt to say it stayed at that level. Source: Skew, Bitstamp, Coinbase, FTX, Gemini, ItBit, Kraken, LMAX Digital. Just eyeballing it, youll see that bitcoins options volumes relative to spot have stayed within a range of 30% and 50% since June. The market, of course, had a massive spike in options in April, where it nearly rivaled the spot market, even surpassing it on April 8. Ethers options market appears to have more modest ranges, generally staying between 15% and 25% over the past five months or so. For those who care, the standard deviation for bitcoins ratio was 17% while it was a tighter 5% for ether since June 2020. Of course, were still in the early stages of the crypto derivatives market. One exchange, Deribit, has the lions share of both bitcoin and ethers options trades. Its still nascent, Luuk Strijers, the exchanges chief commercial officer, told CoinDesk, adding his prediction that growth will be fast as the market is still maturing. Stephen Ehrlich, CEO of brokerage Voyager Digital, concurs, saying that crypto options are similar to where equity options were two decades ago but will eventually catch up. I think its just a matter of time, he told CoinDesk TVs First Mover program on Friday . As those products become more easily to obtain and to trade, youll see that volume grow. But were still a few years from that happening. And in that still-maturing market, its bitcoin, which is the older sister. That brings us back to the Brady Bunch. Growing pains For those who havent memorized that episode, Jan hid Marcias trophies in the closet out of jealousy. Every time Marcia turns around, they hand her a blue ribbon or something, Jan laments to her mother, Carol. All I hear all day long at school is how great Marcia is at this, or how wonderful Marcia did that. Jan, youre not in anybodys shadow, Carol consoles her second daughter. Marcias three years older than you. She should have more to show for herself. Look, theres a lot more to this episode, where Carol tells Jan to go out and do something special, and Jan writes some essay for a contest and brags about winning when she doesnt and Thats not the point. The point is that bitcoin is Marcia here. Its six years older than ether. It should have more to show for itself, including more options volume relative to its spot market than ether. And all the other cryptocurrencies out there have their own thing going on, much like each of the Bradys Im not sure where Alice the housekeeper falls, but she may be XRP. Eventually, they will mature. The oldest Brady kid is 67 and the youngest is now 60. That will happen in crypto and we can expect their options markets will grow, too. Just hope they dont all do a three-part episode in Hawaii . \|\| What Bitcoin and Ether’s Options Tell Us About Their Maturity: In one of the most iconic scenes in American TV history, Jan Brady complains to her parents about all the attention her sister receives. “Marcia, Marcia, Marcia … I’m tired of being in Marcia’s shadow all the time,” Jan whines to her mom onseason 3, episode 10of “The Brady Bunch” in 1971. One could almost hear ether (ETH) kvetch in much the same manner about bitcoin (BTC). After all, ether is up around 500% since Jan. 1 while bitcoin has only doubled in that time. Yet, it’s bitcoin that is legal tender in one country and has several futures-based exchange-traded funds (ETF). And then some. While they are in the same asset class, comparing bitcoin to ether is tantamount to comparing apples to oranges for those with more than a cursory understanding of crypto. It turns out the derivatives markets agree about the difference in at least one subtle way: the relative volume of ether options to the spot market compared to that of bitcoin. That matters because higher options volume relative to spot is a sign of a mature market and canhelp with price discovery. To be sure, both ether and bitcoin have shown astounding growth in both their spot and options markets over the past year. In October 2020, ether spot trades averaged roughly $93 million per day combined for seven major exchanges; a year later, that daily average was $1.6 billion, according to figures compiled by data provider Skew. Meanwhile, options daily volumes jumped to $335 million from a mere $23 million the previous year. [The seven bitcoin and ether spot exchanges tracked in this piece were Bitstamp, Coinbase, FTX, Gemini, ItBit, Kraken and LMAX Digital. While exchanges such as Binance were not included, one can still get a sense of the relative size of each spot market.] Bitcoin’s market was even bigger to start. The October daily spot volume average in 2020 was $395 million while the options market was $206 million. Fast forward 12 months later and it was $2.2 billion and $989 million, respectively. Still, when it comes to growth, ether was the more impressive of the two. Its spot market grew roughly 16x in one year and its options market nearly 15x. Bitcoin’s numbers gained “just” 5.7x and 4.8x, respectively. That’s a dream for any other market but small potatoes compared to ether. Yet, when looking at those numbers, the relative size of each currency’s options market to its spot market stood out. Again, the spot data we looked at are just from a handful of the exchanges where the assets trade. However, these were some of the biggest exchanges in the world, and their data is generally reliable. Therefore, they were helpful in giving a sense of what’s happening in the markets. Going back to mid-June 2020 to now, bitcoin options volumes averaged 45% of spot while it was just 20% for ether. That isn’t to say it stayed at that level. Just eyeballing it, you’ll see that bitcoin’s options volumes relative to spot have stayed within a range of 30% and 50% since June. The market, of course, had a massive spike in options in April, where it nearly rivaled the spot market, even surpassing it on April 8. Ether’s options market appears to have more modest ranges, generally staying between 15% and 25% over the past five months or so. For those who care, the standard deviation for bitcoin’s ratio was 17% while it was a tighter 5% for ether since June 2020. Of course, we’re still in the early stages of the crypto derivatives market. One exchange, Deribit, has the lion’s share of both bitcoin and ether’s options trades. “It’s still nascent,” Luuk Strijers, the exchange’s chief commercial officer, told CoinDesk, adding his prediction that growth will be fast as the market is still maturing. Stephen Ehrlich, CEO of brokerage Voyager Digital, concurs, saying that crypto options are similar to where equity options were two decades ago but will eventually catch up. “I think it’s just a matter of time,” he toldCoinDesk TV’s “First Mover” program on Friday. “As those products become more easily to obtain and to trade, you’ll see that volume grow. But we’re still a few years from that happening.” And in that still-maturing market, it’s bitcoin, which is the older sister. That brings us back to the Brady Bunch. For those who haven’t memorized that episode, Jan hid Marcia’s trophies in the closet out of jealousy. “Every time Marcia turns around, they hand her a blue ribbon or something,” Jan laments to her mother, Carol. “All I hear all day long at school is how great Marcia is at this, or how wonderful Marcia did that.” “Jan, you’re not in anybody’s shadow,” Carol consoles her second daughter. “Marcia’s three years older than you. She should have more to show for herself.” Look, there’s a lot more to this episode, where Carol tells Jan to go out and do something special, and Jan writes some essay for a contest and brags about winning when she doesn’t and … That’s not the point. The point is that bitcoin is Marcia here. It’s six years older than ether. It should have more to show for itself, including more options volume relative to its spot market than ether. And all the other cryptocurrencies out there have their own thing going on, much like each of the Bradys – I’m not sure where Alice the housekeeper falls, but she may be XRP. Eventually, they will mature. The oldest Brady kid is 67 and the youngest is now 60. That will happen in crypto and we can expect their options markets will grow, too. Just hope they don’tall do a three-part episode in Hawaii. \|\| What Bitcoin and Ether’s Options Tell Us About Their Maturity: In one of the most iconic scenes in American TV history, Jan Brady complains to her parents about all the attention her sister receives. “Marcia, Marcia, Marcia … I’m tired of being in Marcia’s shadow all the time,” Jan whines to her mom onseason 3, episode 10of “The Brady Bunch” in 1971. One could almost hear ether (ETH) kvetch in much the same manner about bitcoin (BTC). After all, ether is up around 500% since Jan. 1 while bitcoin has only doubled in that time. Yet, it’s bitcoin that is legal tender in one country and has several futures-based exchange-traded funds (ETF). And then some. While they are in the same asset class, comparing bitcoin to ether is tantamount to comparing apples to oranges for those with more than a cursory understanding of crypto. It turns out the derivatives markets agree about the difference in at least one subtle way: the relative volume of ether options to the spot market compared to that of bitcoin. That matters because higher options volume relative to spot is a sign of a mature market and canhelp with price discovery. To be sure, both ether and bitcoin have shown astounding growth in both their spot and options markets over the past year. In October 2020, ether spot trades averaged roughly $93 million per day combined for seven major exchanges; a year later, that daily average was $1.6 billion, according to figures compiled by data provider Skew. Meanwhile, options daily volumes jumped to $335 million from a mere $23 million the previous year. [The seven bitcoin and ether spot exchanges tracked in this piece were Bitstamp, Coinbase, FTX, Gemini, ItBit, Kraken and LMAX Digital. While exchanges such as Binance were not included, one can still get a sense of the relative size of each spot market.] Bitcoin’s market was even bigger to start. The October daily spot volume average in 2020 was $395 million while the options market was $206 million. Fast forward 12 months later and it was $2.2 billion and $989 million, respectively. Still, when it comes to growth, ether was the more impressive of the two. Its spot market grew roughly 16x in one year and its options market nearly 15x. Bitcoin’s numbers gained “just” 5.7x and 4.8x, respectively. That’s a dream for any other market but small potatoes compared to ether. Yet, when looking at those numbers, the relative size of each currency’s options market to its spot market stood out. Again, the spot data we looked at are just from a handful of the exchanges where the assets trade. However, these were some of the biggest exchanges in the world, and their data is generally reliable. Therefore, they were helpful in giving a sense of what’s happening in the markets. Going back to mid-June 2020 to now, bitcoin options volumes averaged 45% of spot while it was just 20% for ether. That isn’t to say it stayed at that level. Just eyeballing it, you’ll see that bitcoin’s options volumes relative to spot have stayed within a range of 30% and 50% since June. The market, of course, had a massive spike in options in April, where it nearly rivaled the spot market, even surpassing it on April 8. Ether’s options market appears to have more modest ranges, generally staying between 15% and 25% over the past five months or so. For those who care, the standard deviation for bitcoin’s ratio was 17% while it was a tighter 5% for ether since June 2020. Of course, we’re still in the early stages of the crypto derivatives market. One exchange, Deribit, has the lion’s share of both bitcoin and ether’s options trades. “It’s still nascent,” Luuk Strijers, the exchange’s chief commercial officer, told CoinDesk, adding his prediction that growth will be fast as the market is still maturing. Stephen Ehrlich, CEO of brokerage Voyager Digital, concurs, saying that crypto options are similar to where equity options were two decades ago but will eventually catch up. “I think it’s just a matter of time,” he toldCoinDesk TV’s “First Mover” program on Friday. “As those products become more easily to obtain and to trade, you’ll see that volume grow. But we’re still a few years from that happening.” And in that still-maturing market, it’s bitcoin, which is the older sister. That brings us back to the Brady Bunch. For those who haven’t memorized that episode, Jan hid Marcia’s trophies in the closet out of jealousy. “Every time Marcia turns around, they hand her a blue ribbon or something,” Jan laments to her mother, Carol. “All I hear all day long at school is how great Marcia is at this, or how wonderful Marcia did that.” “Jan, you’re not in anybody’s shadow,” Carol consoles her second daughter. “Marcia’s three years older than you. She should have more to show for herself.” Look, there’s a lot more to this episode, where Carol tells Jan to go out and do something special, and Jan writes some essay for a contest and brags about winning when she doesn’t and … That’s not the point. The point is that bitcoin is Marcia here. It’s six years older than ether. It should have more to show for itself, including more options volume relative to its spot market than ether. And all the other cryptocurrencies out there have their own thing going on, much like each of the Bradys – I’m not sure where Alice the housekeeper falls, but she may be XRP. Eventually, they will mature. The oldest Brady kid is 67 and the youngest is now 60. That will happen in crypto and we can expect their options markets will grow, too. Just hope they don’tall do a three-part episode in Hawaii. \|\| How to Accept Crypto Payments Best Crypto Payment Processors for Your Business: Then, there is the investment arm, which companies are starting to optimize as well. MicroStrategy made waves over the past year for investing billions of dollars into Bitcoin , and several other firms have done the same. Other firms have made the same move as MicroStrategy, with Bitcoin Treasuries showing that billions have been allocated towards Bitcoin investments from some of the most popular public firms. A Perfect Fit for Expansion Plans Perhaps the most important benefit of accepting crypto for payments is the opportunity to open your business to international markets without having to onboard international payment options. Today, many companies that look to grow their reach need to incorporate foreign currency payments. This way, their customers who live overseas will be able to make payments in their currencies. Its the perfect way to improve the user experience for this new market youre looking to conquer. The only issue is that multi-currency support isnt so cheap to incorporate. For small businesses with budget constraints, this might not be possible. Thankfully, crypto could be a great way for you to bypass this issue. Simply incorporate crypto payments, and customers would be able to make payments in crypto for their services and move ahead with their purchases. Of course, it is worth noting that crypto payment integration will come with its own costs. However, when you consider that crypto will open one payment channel that everyone can use, youll find that it is incredibly beneficial. Improved Payment Security One of the trends made prominent by the coronavirus pandemic is the growth in credit card fraud. According to data , the volume of attempted fraudulent transactions jumped by 35 percent in April 2020 compared to a year before. Credit and debit cards were also the largest source of fraud reports amongst all payment methods last year, and small businesses took the brunt of this growing trend. Of course, its easy to see why small businesses were the largest victims. Large businesses had the money to protect themselves and could easily invest in improved infrastructure. Pon the other hand, small businesses were essentially left on their own. If you run a small business, you need a channel that is safe and secure, and which is convenient for you to receive payments. Cryptocurrencies are decentralized by nature, making them the ideal channels for payment. They offer greater security than credit and debit cards, thanks to their complex transaction verification processes and the use of blockchain technology. Story continues A Proliferation of Payment Channels However, for all the benefits that cryptocurrencies bring, not everyone is convinced that accepting crypto as a payment method can be beneficial. With payment processing being one of the primary points of focus for the crypto industry going forward, its worth considering how these assets can indeed help to improve this industry and what companies stand to gain when they incorporate digital asset payments. Today, there is a growing number of services that allow companies to accept cryptocurrency payments. Here are a few of them: NOWPayments NOWPayments is currently the market leader in crypto payment processing. The service offers some of the lowest fees in the industry, as well as an easy-to-implement service that companies can seamlessly integrate into their payment channels. Created in 2019, NOWPayments offers an API for companies to integrate into their online platforms. It also gives several plug-ins, all ready to target different types of clients and their locations. The company offers a PoS solution for businesses, conversion to fiat, and a gateway to CMS platforms like OpenCart and WooCommerce. So, people looking to create online stores and accept crypto payments can use NOWPayments. Currently, NOWPayments accepts over 100 cryptocurrencies. This means that you will be able to add the service to your company and you have a broad range of coins to get payment from. With a non-custodial service, you can also rest assured of payment security. BitPay BitPay is perhaps the oldest and most popular payment processor in the crypto industry. The service is about a decade old, operating since 2011. It offers a mobile app and a simple interface, allowing businesses to begin accepting crypto payments in days. One of BitPays primary benefits is its API, which makes it even easier for people to use. It is safe and secure, with all of the industry-standard security features available through its interface. BitPay also provides access to multilingual support, so companies can serve customers in different countries. Fees on BitPay start from just 1%. Compare this with traditional payment processors, and youll find that it is incredibly affordable. Even better, the company offers debit cards that allow people to make cashless transactions anywhere. BitPay leverages its relationships with some of the worlds largest payment processors including MasterCard, VISA, and more to make payments more seamless using cryptocurrencies. Blockonomics Blockonomics is another high-profile crypto payment solution that has gotten especially prominent due to its permissionless nature. Founded in 2015, Blockonomics processes quick and seamless payments, allowing companies and their clients to easily process transactions regardless of where they are. With Blockonomics, you dont need third-party permissions to integrate or process crypto payments. All your customers need to do is scan barcodes using their crypto wallets and their payments are processed. Blockonomics supports different assets, with a 1% fee that is more than competitive for the industry. The service also leverages relationships with several top companies, with its network of partners spanning different continents. Conclusion In general, crypto payments are still in their infancy. However, they hold a great deal of potential for businesses to improve their services to customers. The available crypto payment processors are scaling up their ability to serve clients, and you could harness the power of crypto to improve your infrastructure. This article was originally posted on FX Empire More From FXEMPIRE: ASX200: Weekly Wrap 05/11/2021 Portugal: growth, fiscal momentum at risk as snap elections end six years of political stability Crypto Investors Want Elon Musk to Sell Tesla Shares, Diversify Best Stocks, Crypto, and ETFs to Watch This Week Disney, Boeing, Shiba Inu and IWM ETF In Focus Long U.S Dollar Bets Fall Amid Exciting Jobs Data Filecoin (FIL) Mainnet Celebrates Its First Anniversary, Price Stands At $62 View comments \|\| How to Accept Crypto Payments – Best Crypto Payment Processors for Your Business: Then, there is the investment arm, which companies are starting to optimize as well. MicroStrategy made waves over the past year for investing billions of dollars intoBitcoin, and several other firms have done the same. Other firms have made the same move as MicroStrategy, withBitcoinTreasuries showing that billions have been allocated towards Bitcoin investments from some of the most popular public firms. Perhaps the most important benefit of accepting crypto for payments is the opportunity to open your business to international markets without having to onboard international payment options. Today, many companies that look to grow their reach need to incorporate foreign currency payments. This way, their customers who live overseas will be able to make payments in their currencies. It’s the perfect way to improve the user experience for this new market you’re looking to conquer. The only issue is that multi-currency support isn’t so cheap to incorporate. For small businesses with budget constraints, this might not be possible. Thankfully, crypto could be a great way for you to bypass this issue. Simply incorporate crypto payments, and customers would be able to make payments in crypto for their services and move ahead with their purchases. Of course, it is worth noting that crypto payment integration will come with its own costs. However, when you consider that crypto will open one payment channel that everyone can use, you’ll find that it is incredibly beneficial. One of the trends made prominent by the coronavirus pandemic is the growth in credit card fraud. According todata, the volume of attempted fraudulent transactions jumped by 35 percent in April 2020 compared to a year before. Credit and debit cards were also the largest source of fraud reports amongst all payment methods last year, and small businesses took the brunt of this growing trend. Of course, it’s easy to see why small businesses were the largest victims. Large businesses had the money to protect themselves and could easily invest in improved infrastructure. Pon the other hand, small businesses were essentially left on their own. If you run a small business, you need a channel that is safe and secure, and which is convenient for you to receive payments. Cryptocurrencies are decentralized by nature, making them the ideal channels for payment. They offer greater security than credit and debit cards, thanks to their complex transaction verification processes and the use of blockchain technology. However, for all the benefits that cryptocurrencies bring, not everyone is convinced that accepting crypto as a payment method can be beneficial. With payment processing being one of the primary points of focus for the crypto industry going forward, it’s worth considering how these assets can indeed help to improve this industry and what companies stand to gain when they incorporate digital asset payments. Today, there is a growing number of services that allow companies to accept cryptocurrency payments. Here are a few of them: NOWPaymentsis currently the market leader in crypto payment processing. The service offers some of the lowest fees in the industry, as well as an easy-to-implement service that companies can seamlessly integrate into their payment channels. Created in 2019, NOWPayments offers an API for companies to integrate into their online platforms. It also gives several plug-ins, all ready to target different types of clients and their locations. The company offers a PoS solution for businesses, conversion to fiat, and a gateway to CMS platforms like OpenCart and WooCommerce. So, people looking to create online stores and accept crypto payments can use NOWPayments. Currently, NOWPayments accepts over 100 cryptocurrencies. This means that you will be able to add the service to your company and you have a broad range of coins to get payment from. With a non-custodial service, you can also rest assured of payment security. BitPay is perhaps the oldest and most popular payment processor in the crypto industry. The service is about a decade old, operating since 2011. It offers a mobile app and a simple interface, allowing businesses to begin accepting crypto payments in days. One of BitPay’s primary benefits is its API, which makes it even easier for people to use. It is safe and secure, with all of the industry-standard security features available through its interface. BitPay also provides access to multilingual support, so companies can serve customers in different countries. Fees on BitPay start from just 1%. Compare this with traditional payment processors, and you’ll find that it is incredibly affordable. Even better, the company offers debit cards that allow people to make cashless transactions anywhere. BitPay leverages its relationships with some of the world’s largest payment processors – including MasterCard, VISA, and more to make payments more seamless using cryptocurrencies. Blockonomics is another high-profile crypto payment solution that has gotten especially prominent due to its permissionless nature. Founded in 2015, Blockonomics processes quick and seamless payments, allowing companies and their clients to easily process transactions regardless of where they are. With Blockonomics, you don’t need third-party permissions to integrate or process crypto payments. All your customers need to do is scan barcodes using their crypto wallets and their payments are processed. Blockonomics supports different assets, with a 1% fee that is more than competitive for the industry. The service also leverages relationships with several top companies, with its network of partners spanning different continents. In general, crypto payments are still in their infancy. However, they hold a great deal of potential for businesses to improve their services to customers. The available crypto payment processors are scaling up their ability to serve clients, and you could harness the power of crypto to improve your infrastructure. Thisarticlewas originally posted on FX Empire • ASX200: Weekly Wrap – 05/11/2021 • Portugal: growth, fiscal momentum at risk as snap elections end six years of political stability • Crypto Investors Want Elon Musk to Sell Tesla Shares, Diversify • Best Stocks, Crypto, and ETFs to Watch This Week – Disney, Boeing, Shiba Inu and IWM ETF In Focus • Long U.S Dollar Bets Fall Amid Exciting Jobs Data • Filecoin (FIL) Mainnet Celebrates Its First Anniversary, Price Stands At $62 \|\| Crypto Investors Want Elon Musk to Sell Tesla Shares, Diversify: Tesla CEO Elon Musk has never shied away from engaging with his followers on Twitter. Now he is taking to the social media platform to decide whether he should unload 10% of his Tesla holdings. Crypto investors think he should and have some very clear ideas of how he should direct the proceeds. To Sell or Not to Sell Musk’s tweetstorm is in response to a theme that has surfaced surrounding unrealized gains and tax avoidance. In response to this theory, he has launched a Twitter poll to learn how his 62 million-plus followers feel about him dumping 10% of TSLA shares. Musk previously tipped his hand to potentially selling Tesla options in the fourth quarter before they expire in early 2022. So far, Musk’s poll has received nearly 3,000 responses, more than half of which are in favor of him selling 10% of his Tesla stock. Musk owns slightly more than one-fifth of Tesla’s outstanding shares based on year-end 2020 data. If he sells, it will increase the 1 billion shares outstanding by slightly more than 2%, as per the latest InsiderScore data cited by CNBC. Source: Twitter Many of the comments are from the cryptocurrency community, who would like to see Musk sell Tesla shares to buy meme coins such as Dogecoin, Shiba Inu and Floki Inu, to name a few. Meme Coin Rush Crypto YouTuber Matt Wallace got the ball rolling. He alerted his followers to Musk’s potential sale and hopes that the Tesla chief will use much of the billions of dollars to buy more Dogecoin . Others are convinced that Musk is eyeing Floki Inu, given his recent space tweets acknowledging Vikings (the nickname for FLOKI investors), the moon and Mars. I think Elon is going to support $FLOKI , he clearly hinted at it in his tweets where he said Vikings on the moon and mars. — Elendil (@martina656d) November 6, 2021 Shiba Inu investors were recently scorned when Musk revealed that his cryptocurrency portfolio is limited to bitcoin, Dogecoin and Ethereum. Nonetheless, the SHIB army is hoping that Musk will spread the love across meme coins, including Shiba Inu. The SHIB price soared more than 800% last month, thanks largely to the buying activity of crypto whales , but has since retreated. Story continues MicroStrategy CEO Michael Saylor also had some thoughts on the matter . He suggested that if Musk’s “goal is diversification,” he should explore “converting the TSLA balance sheet to a bitcoin standard and purchasing $25 billion in BTC.” Saylor, whose company has been aggressively buying bitcoin for the balance sheet, is looking out for Tesla investors and would like to see them protected from inflation. Musk says he’ll “abide by the results of this poll, whichever way it goes.” He has not promised to direct the funds to any particular cause or coin. This article was originally posted on FX Empire More From FXEMPIRE: U.S Mortgage Rates Hit Reverse but Avoid sub-3% Ethereum, Litecoin, and Ripple’s XRP – Daily Tech Analysis – November 6th, 2021 The Crypto Daily – Movers and Shakers – November 7th, 2021 Portugal: growth, fiscal momentum at risk as snap elections end six years of political stability Filecoin (FIL) Mainnet Celebrates Its First Anniversary, Price Stands At $62 Earnings Week Ahead: PayPal, Middleby, Walt Disney and AstraZeneca in Focus \|\| Crypto Investors Want Elon Musk to Sell Tesla Shares, Diversify: TeslaCEO Elon Musk has never shied away from engaging with his followers on Twitter. Now he is taking to the social media platform to decide whether he should unload 10% of his Tesla holdings. Crypto investors think he should and have some very clear ideas of how he should direct the proceeds. Musk’s tweetstorm is in response to a theme that has surfaced surrounding unrealized gains and tax avoidance. In response to this theory, he has launched a Twitter poll to learn how his 62 million-plus followers feel about him dumping 10% of TSLA shares. Musk previouslytipped his handto potentially selling Tesla options in the fourth quarter before they expire in early 2022. So far, Musk’s poll has received nearly 3,000 responses, more than half of which are in favor of him selling 10% of his Tesla stock. Musk owns slightly more than one-fifth of Tesla’s outstanding shares based on year-end 2020 data. If he sells, it will increase the 1 billion shares outstanding by slightly more than 2%, as per the latest InsiderScore data cited by CNBC. Many of the comments are from the cryptocurrency community, who would like to see Musk sell Tesla shares to buy meme coins such as Dogecoin,Shiba Inuand Floki Inu, to name a few. Crypto YouTuber Matt Wallace got the ball rolling. He alerted his followers to Musk’s potential sale and hopes that the Tesla chief will use much of the billions of dollars to buy moreDogecoin. Others are convinced that Musk is eyeing Floki Inu, given hisrecent space tweetsacknowledging Vikings (the nickname for FLOKI investors), the moon and Mars. Shiba Inu investors wererecently scornedwhen Musk revealed that his cryptocurrency portfolio is limited to bitcoin, Dogecoin and Ethereum. Nonetheless, the SHIB army is hoping that Musk willspread the loveacross meme coins, including Shiba Inu. The SHIB price soared more than 800% last month, thanks largely to the buying activity ofcrypto whales, but has since retreated. MicroStrategy CEO Michael Saylor also had somethoughts on the matter. He suggested that if Musk’s “goal is diversification,” he should explore “converting the TSLA balance sheet to a bitcoin standard and purchasing $25 billion in BTC.” Saylor, whose company has been aggressively buying bitcoin for the balance sheet, is looking out for Tesla investors and would like to see them protected from inflation. Musk says he’ll “abide by the results of this poll, whichever way it goes.” He has not promised to direct the funds to any particular cause or coin. Thisarticlewas originally posted on FX Empire • U.S Mortgage Rates Hit Reverse but Avoid sub-3% • Ethereum, Litecoin, and Ripple’s XRP – Daily Tech Analysis – November 6th, 2021 • The Crypto Daily – Movers and Shakers – November 7th, 2021 • Portugal: growth, fiscal momentum at risk as snap elections end six years of political stability • Filecoin (FIL) Mainnet Celebrates Its First Anniversary, Price Stands At $62 • Earnings Week Ahead: PayPal, Middleby, Walt Disney and AstraZeneca in Focus \|\| Crypto market hits $2.8tn as US House passes $1.2tn infrastructure bill: The value of the overall crypto market surpassed $2.8 trillion, according to CoinGecko.com. It follows a move by the US House of Representatives to pass the $1.2tn Infrastructure Bill which is almost the same value as the entire market cap of Bitcoin. The bill was signed into law by President Joe Biden, and was designed to enforce new provisions in relation to crypto-tax reporting for all US citizens. The bill says some obligations for the crypto community must be fulfilled, including all digital asset transactions worth more than $10,000 to be reported to the IRS. The overall crypto market cap of $2tn was crossed seven months ago while the $1tn cap was surpassed three months before that. It took 13 years – from the publication of the Bitcoin whitepaper at the end of 2008 – until this January for the market to hit the first trillion. Records reached by Ethereum and Solana helped push the combined market cap of all cryptos above $2.75 trillion for the first time in its history, while Bitcoin alone is now worth more than US behemoths such as Facebook and Tesla with a market cap above $1.19tn. Crypto market popular with traditional finance institutions Compared to these numbers, the world’s largest bank – JPMorgan Chase – has a market cap of $503bn that represents $40bn less than that of Ethereum’s. Together with the rest of the top 12 world’s biggest banks, it gives an overall market cap of just below $2.7tn for the traditional finance leaders who were strongly resisting new digital money. However, some of the biggest players in the US and Europe started offering crypto trading services to institutional clients. One of them is Singapore’s DBS Group , which became one of the first to offer the service to wealthy clients. The country’s Monetary Authority (MAS) also said recently there could be “a role” for stablecoins in future finance “that extends beyond pure speculation and illicit finance”. Australia’s Commonwealth Bank also confirmed its intention to offer a platform for retail customers to trade cryptocurrencies on its mobile banking app. [Social Media Buzz] None available.	66971.83, 64995.23, 64949.96, 64155.94, 64469.53, 65466.84, 63557.87, 60161.25, 60368.01, 56942.14
Given the historical Bitcoin prices from the last 90 days, predict the next 10 daily closing prices. The historical prices are: 39294.20, 38436.97, 35697.61, 34616.07, 35678.13, 37332.86, 36684.93, 37575.18, 39208.77, 36894.41, 35551.96, 35862.38, 33560.71, 33472.63, 37345.12, 36702.60, 37334.40, 35552.52, 39097.86, 40218.48, 40406.27, 38347.06, 38053.50, 35787.25, 35615.87, 35698.30, 31676.69, 32505.66, 33723.03, 34662.44, 31637.78, 32186.28, 34649.64, 34434.34, 35867.78, 35040.84, 33572.12, 33897.05, 34668.55, 35287.78, 33746.00, 34235.20, 33855.33, 32877.37, 33798.01, 33520.52, 34240.19, 33155.85, 32702.03, 32822.35, 31780.73, 31421.54, 31533.07, 31796.81, 30817.83, 29807.35, 32110.69, 32313.11, 33581.55, 34292.45, 35350.19, 37337.54, 39406.94, 39995.91, 40008.42, 42235.55, 41626.20, 39974.89, 39201.95, 38152.98, 39747.50, 40869.55, 42816.50, 44555.80, 43798.12, 46365.40, 45585.03, 45593.64, 44428.29, 47793.32, 47096.95, 47047.00, 46004.48, 44695.36, 44801.19, 46717.58, 49339.18, 48905.49, 49321.65, 49546.15.	[Bitcoin Technical Analysis for 2021-08-23] Volume: 34305053719, RSI (14-day): 68.61, 50-day EMA: 41887.50, 200-day EMA: 39953.00 [Wider Market Context] Gold Price: 1803.20, Gold RSI: 55.55 Oil Price: 65.64, Oil RSI: 42.03 [Recent News (last 7 days)] Will Bitcoin Ever Run Out?: Bitcoin has been around since 2009, but it’s only been the last few years where it’s been on the map of the average investor. That’s likely due to the fact that the price of Bitcoin has absolutely exploded. Even after dropping over 50% from its high in 2021,Bitcoin is still up over 250% over the last year, and over 32,500% since 2014.Whereas lots of investors have gotten excited over the prospect ofbecoming rich by investing in Bitcoin, not many people fully understand exactly what Bitcoin is or how it works. For example, you may have heard that the total number of Bitcoin allowed to exist is limited. But, how is that possible, and what does it mean? Will Bitcoin ever run out? Check Out:What Is the Next Big Cryptocurrency To Explode in 2021?Consider:Is the Shiba Inu Coin the Cryptocurrency You Should Be Watching? Here’s a quick overview of how Bitcoin is produced, how it can be limited and what it all means for the future of the cryptocurrency. While the mechanics of the operations can get a bit confusing, Bitcoin is produced by miners, but electronic miners rather than physical miners. The way it works is that Bitcoin miners record transactions on the blockchain, which is a decentralized ledger. To record a transaction, miners must solve complex algorithms using massive computer power. Once a transaction is recorded, which occurs about every 10 minutes on average, the miner is rewarded with Bitcoin. Currently, the reward for miners is 6.25 Bitcoin, but this amount is halved every four years. In 2009, when Bitcoin was first developed, the reward was 50 Bitcoin. It’s estimated that the next halving will be in 2024, when the reward will drop to 3.125 Bitcoin. Learn More:Where Does Cryptocurrency Come From? Under the mining system, it might seem like there would be no limit to the amount of Bitcoin that could be produced. However, the way its source code is written, there can be no more Bitcoin produced once 21 million coins are in the system. The way the mining system is set up means that the final Bitcoin won’t be mined until about 2140, however.So, although the production rate will slow, there will still be new Bitcoin coming online for over 100 years. See:If You Invested $1,000 in These Cryptocurrencies a Year Ago, Here’s How Much You’d Have Now Bitcoin will never “run out,” as there have already been over 18 million Bitcoin mined and there will ultimately be 21 million in the system.However, the introduction of new supply will eventually stop. This is one of the reasons Bitcoin bulls aggressively tout the cryptocurrency. In their opinion, increasing demand for Bitcoin will eventually overcome the limited supply, thereby driving up prices exponentially. This could prove true, as more and more businesses and even countries are beginning to accept Bitcoin as a valid form of currency. El Salvador, for example, became the first country to accept Bitcoin as legal tender on June 9.However, the future demand for Bitcoin is still far from certain, which is part of the reason there are such wild swings in its price. More From GOBankingRates • What Money Topics Do You Want Covered: Ask the Financially Savvy Female • 5 Things Most Americans Don’t Know About Social Security • 20 Home Renovations That Will Hurt Your Home’s Value • What Income Level Is Considered Middle Class in Your State? Last updated: July 29, 2021 This article originally appeared onGOBankingRates.com:Will Bitcoin Ever Run Out? \|\| Will Bitcoin Ever Run Out?: Bitcoin has been around since 2009, but it’s only been the last few years where it’s been on the map of the average investor. That’s likely due to the fact that the price of Bitcoin has absolutely exploded. Even after dropping over 50% from its high in 2021,Bitcoin is still up over 250% over the last year, and over 32,500% since 2014.Whereas lots of investors have gotten excited over the prospect ofbecoming rich by investing in Bitcoin, not many people fully understand exactly what Bitcoin is or how it works. For example, you may have heard that the total number of Bitcoin allowed to exist is limited. But, how is that possible, and what does it mean? Will Bitcoin ever run out? Check Out:What Is the Next Big Cryptocurrency To Explode in 2021?Consider:Is the Shiba Inu Coin the Cryptocurrency You Should Be Watching? Here’s a quick overview of how Bitcoin is produced, how it can be limited and what it all means for the future of the cryptocurrency. While the mechanics of the operations can get a bit confusing, Bitcoin is produced by miners, but electronic miners rather than physical miners. The way it works is that Bitcoin miners record transactions on the blockchain, which is a decentralized ledger. To record a transaction, miners must solve complex algorithms using massive computer power. Once a transaction is recorded, which occurs about every 10 minutes on average, the miner is rewarded with Bitcoin. Currently, the reward for miners is 6.25 Bitcoin, but this amount is halved every four years. In 2009, when Bitcoin was first developed, the reward was 50 Bitcoin. It’s estimated that the next halving will be in 2024, when the reward will drop to 3.125 Bitcoin. Learn More:Where Does Cryptocurrency Come From? Under the mining system, it might seem like there would be no limit to the amount of Bitcoin that could be produced. However, the way its source code is written, there can be no more Bitcoin produced once 21 million coins are in the system. The way the mining system is set up means that the final Bitcoin won’t be mined until about 2140, however.So, although the production rate will slow, there will still be new Bitcoin coming online for over 100 years. See:If You Invested $1,000 in These Cryptocurrencies a Year Ago, Here’s How Much You’d Have Now Bitcoin will never “run out,” as there have already been over 18 million Bitcoin mined and there will ultimately be 21 million in the system.However, the introduction of new supply will eventually stop. This is one of the reasons Bitcoin bulls aggressively tout the cryptocurrency. In their opinion, increasing demand for Bitcoin will eventually overcome the limited supply, thereby driving up prices exponentially. This could prove true, as more and more businesses and even countries are beginning to accept Bitcoin as a valid form of currency. El Salvador, for example, became the first country to accept Bitcoin as legal tender on June 9.However, the future demand for Bitcoin is still far from certain, which is part of the reason there are such wild swings in its price. More From GOBankingRates • What Money Topics Do You Want Covered: Ask the Financially Savvy Female • 5 Things Most Americans Don’t Know About Social Security • 20 Home Renovations That Will Hurt Your Home’s Value • What Income Level Is Considered Middle Class in Your State? Last updated: July 29, 2021 This article originally appeared onGOBankingRates.com:Will Bitcoin Ever Run Out? \|\| Will Bitcoin Ever Run Out?: Sheldon Cooper/SOPA Images/Shutterstock Bitcoin has been around since 2009, but its only been the last few years where its been on the map of the average investor. Thats likely due to the fact that the price of Bitcoin has absolutely exploded. Even after dropping over 50% from its high in 2021, Bitcoin is still up over 250% over the last year, and over 32,500% since 2014. Whereas lots of investors have gotten excited over the prospect of becoming rich by investing in Bitcoin , not many people fully understand exactly what Bitcoin is or how it works. For example, you may have heard that the total number of Bitcoin allowed to exist is limited. But, how is that possible, and what does it mean? Will Bitcoin ever run out? Check Out: What Is the Next Big Cryptocurrency To Explode in 2021? Consider: Is the Shiba Inu Coin the Cryptocurrency You Should Be Watching? Heres a quick overview of how Bitcoin is produced, how it can be limited and what it all means for the future of the cryptocurrency. How Is Bitcoin Produced? While the mechanics of the operations can get a bit confusing, Bitcoin is produced by miners, but electronic miners rather than physical miners. The way it works is that Bitcoin miners record transactions on the blockchain, which is a decentralized ledger. To record a transaction, miners must solve complex algorithms using massive computer power. Once a transaction is recorded, which occurs about every 10 minutes on average, the miner is rewarded with Bitcoin. Currently, the reward for miners is 6.25 Bitcoin, but this amount is halved every four years. In 2009, when Bitcoin was first developed, the reward was 50 Bitcoin. Its estimated that the next halving will be in 2024, when the reward will drop to 3.125 Bitcoin. Learn More: Where Does Cryptocurrency Come From? Bitcoin Is Limited to 21 Million Under the mining system, it might seem like there would be no limit to the amount of Bitcoin that could be produced. However, the way its source code is written, there can be no more Bitcoin produced once 21 million coins are in the system. The way the mining system is set up means that the final Bitcoin wont be mined until about 2140, however. So, although the production rate will slow, there will still be new Bitcoin coming online for over 100 years. Story continues See: If You Invested $1,000 in These Cryptocurrencies a Year Ago, Heres How Much Youd Have Now The Future of Bitcoin Bitcoin will never run out, as there have already been over 18 million Bitcoin mined and there will ultimately be 21 million in the system. However, the introduction of new supply will eventually stop. This is one of the reasons Bitcoin bulls aggressively tout the cryptocurrency. In their opinion, increasing demand for Bitcoin will eventually overcome the limited supply, thereby driving up prices exponentially. This could prove true, as more and more businesses and even countries are beginning to accept Bitcoin as a valid form of currency. El Salvador, for example, became the first country to accept Bitcoin as legal tender on June 9. However, the future demand for Bitcoin is still far from certain, which is part of the reason there are such wild swings in its price. More From GOBankingRates What Money Topics Do You Want Covered: Ask the Financially Savvy Female 5 Things Most Americans Dont Know About Social Security 20 Home Renovations That Will Hurt Your Homes Value What Income Level Is Considered Middle Class in Your State? Last updated: July 29, 2021 This article originally appeared on GOBankingRates.com : Will Bitcoin Ever Run Out? \|\| Crypto Long & Short: When China Spoke, Bitcoin Reacted. America? Not So Much: Governments can’t stop cryptocurrencies, but they can make it much harder to access them. So it would make sense that unfriendly government policies in the world’s largest economies would play a role in driving down the price ofbitcoin. As a case in point, in the few days after Chinareiterated its crypto crackdownin May, bitcoin at one point plunged by as much as 30%. The drop was another reminder that when China speaks, the market listens. The U.S., it seems, not so much. Related:Crypto Funds Snap 6 Weeks of Outflows as Markets Rally This month, a highly controversial crypto tax provision in the $1 trillion infrastructure bill passed through the Senate, despite ardent attempts to amend it. Crypto advocates claimed that the provision would make it impossible for miners, software developers and other crypto-related actors to comply with U.S. tax regulations, thus threatening to drive much of the industry overseas. This would seem to be a pretty bearish sign. But it wasn’t, at least over the short term. In the few days that followed the advancement of the bill, bitcoin shot up by as much as nearly 7%. In fact, shortly following the drama in Washington the entire crypto market reached amarket cap of $2 trillion, a height not seen since May. Related:Substack Rolls Out Bitcoin Payments via OpenNode and Lightning Network This week, the provision will move to the House, where the language may or may not change. It remains to be seen whether the market responds to what happens in Washington. Why did bitcoin seem to react so differently to the U.S. compared with China? As with anything bitcoin price-related, it’s impossible to say for sure, and there are many other factors that affect prices. But here are some of the more plausible theories. China has long been pro-blockchain and wary of crypto, and this is far from the first time that Beijing has cracked down on the industry. But China’s government seems to mean business this time, at least for shutting down cryptocurrency mining. Chinese miners seem to understand that protesting this policy is unlikely to change anything, and so they are already seeking their fortunes outside the country. The U.S. bill’s passage through the Senate, however, is just the beginning. Now lobbying efforts will focus on the House of Representatives, where the bill will be discussed next week. And if the language isn’t amended there, the crypto industry is not going to give up. Even if the legislation enacted as written, there’s still a chance the Treasury Department will interpret the expansive definition of the term “broker”in a favorably narrow way. What happened in China is “a complete sweep out,” said Michael Wu, CEO of Amber Group, a crypto trading firm in Hong Kong. “The U.S. is seen by many as a gateway to dialogue and discussions.” Bobby Ong, co-founder and chief operating officer of data provider CoinGecko, echoed this sentiment. “The key is that it’s not the final law yet so the market is not pricing that in yet,” he said. “People believe that sanity will prevail at the end and things will be worded better.” There are a few possible silver linings to the crypto tax provision drama. The first is that crypto finally has reached its mainstream moment. It played some part in holding up a $1 trillion bill. It forced U.S. lawmakers to at least acknowledge its existence and relevance. We also saw that the crypto community, which is famously decentralized and often divided, is starting to become a real political force. Advocates didn’t get their way this time, but they definitely got people to pay attention. “The moral victory has been won,” CoinDesk Chief Content Officer Michael Caseywrote.“The once fringe-dwelling crypto community finds itself legitimized, which will eventually result in a policy environment that is constructive to the industry.” Or maybe, this is just bitcoin being bitcoin, and these price movements have little to do with the politics of China or the U.S. The China crackdown came on the heels of a sizzling market, but by then, prices were already starting to decline. The CoinDesk Bitcoin Price Index (XBX) was trading at over $42,000 by the end of May 17, not long after coming off of its all-time high of over $64,000. “It has more to do with the market participants than the news itself,” says Qiao Wang, partner at DeFi Alliance, an accelerator for startups. News from both countries was equally bad, “but when the China news happened it was very frothy. When the U.S. news happened, most weak hands had sold.” “Market timing is also a key factor,” says Jason Lau, chief operating officer of crypto exchange Okcoin. “The China news came about when markets were already overextended, declining, and looking for more negative news.” In the case of the U.S. infrastructure bill, on the other hand, “with bitcoin recovering, the market was actively looking for positive news – that’s why you saw the positive spin of ‘it’s amazing how the industry was able to get together and bring a united voice.’” This may be my favorite theory. The basic idea is that the market acknowledged that this supposedly disastrous crypto provision might become a reality, but ultimately, it didn’t matter much. Because even in the worst-case scenario, where a big part of the digital asset industry had to leave the U.S., the crypto market would live on. It bears repeating: We don’t yet know how the market will react to whatever happens in Congress this week. But there is still reason to believe that the U.S. is not the center of the crypto universe. There is, of course, no question that the U.S. is a major force in crypto, especially when it comes to institutional investment, but crypto is becoming increasingly global. Asia has long been a critical player, and we are likely to hear more and more about Africa and Latin America. While it is notoriously hard to accurately track crypto use by geography, Chainalysis’s 2021crypto adoption indexranked the United States at No. 8, after Vietnam, India, Pakistan, Ukraine, Kenya, Nigeria and Venezuela. One could argue that in recent years China may have been more influential than the U.S. That’s why the global market shuddered, albeit briefly, when China banned initial coin offerings and shut down mainland exchanges in 2017. Just a year earlier, themajority of bitcoin tradeswere in Chinese yuan. China’s crypto market remained active after 2017, but the exchange shutdowns made it much harder to estimate the number of traders. For mining in particular, China was widely seen as wielding disproportionate power, especially in hashrate, the computing power used for mining. Bitcoin’s hashrate dropped by over 50% in July from May, when China cracked down on mining, according to data fromGlassnode. The hashrate has since begun to recover as miners set up rigs inother partsof the globe. “The China mining news was an untested shock to Bitcoin the network, with actual immediate impact. This led to true uncertainty around how the hashrate and network would be affected,” Lau said. “Compare this to the U.S. policy discussion, which might have led to some longer-term effects specific to the U.S. Too vague and nothing related to the health of the network itself.” Now, with miners spreading all over the world, China’s influence over the Bitcoin network is declining. We may soon see a day when no single government can have a major impact on the price of bitcoin. Given Bitcoin’s provenance as a decentralized currency that is immune to government control, that’s how it should be. • Introducing Crypto for Advisors, a Newsletter for Financial Planners • Bitcoin on Longest Weekly Winning Run in 9 Months Ahead of Jackson Hole Symposium \|\| Crypto Long & Short: When China Spoke, Bitcoin Reacted. America? Not So Much: Governments can’t stop cryptocurrencies, but they can make it much harder to access them. So it would make sense that unfriendly government policies in the world’s largest economies would play a role in driving down the price of bitcoin . As a case in point, in the few days after China reiterated its crypto crackdown in May, bitcoin at one point plunged by as much as 30%. The drop was another reminder that when China speaks, the market listens. The U.S., it seems, not so much. Related: Crypto Funds Snap 6 Weeks of Outflows as Markets Rally This column originally appeared in Crypto Long & Short , CoinDesk’s weekly newsletter featuring insights, news and analysis for the professional investor. Sign up for Crypto Long & Short here. This month, a highly controversial crypto tax provision in the $1 trillion infrastructure bill passed through the Senate, despite ardent attempts to amend it. Crypto advocates claimed that the provision would make it impossible for miners, software developers and other crypto-related actors to comply with U.S. tax regulations, thus threatening to drive much of the industry overseas. This would seem to be a pretty bearish sign. But it wasn’t, at least over the short term. In the few days that followed the advancement of the bill, bitcoin shot up by as much as nearly 7%. In fact, shortly following the drama in Washington the entire crypto market reached a market cap of $2 trillion , a height not seen since May. Related: Substack Rolls Out Bitcoin Payments via OpenNode and Lightning Network This week, the provision will move to the House, where the language may or may not change. It remains to be seen whether the market responds to what happens in Washington. Why did bitcoin seem to react so differently to the U.S. compared with China? As with anything bitcoin price-related, it’s impossible to say for sure, and there are many other factors that affect prices. But here are some of the more plausible theories. Story continues China’s actions look final, but the US is just getting started. China has long been pro-blockchain and wary of crypto, and this is far from the first time that Beijing has cracked down on the industry. But China’s government seems to mean business this time, at least for shutting down cryptocurrency mining. Chinese miners seem to understand that protesting this policy is unlikely to change anything, and so they are already seeking their fortunes outside the country. The U.S. bill’s passage through the Senate, however, is just the beginning. Now lobbying efforts will focus on the House of Representatives, where the bill will be discussed next week. And if the language isn’t amended there, the crypto industry is not going to give up. Even if the legislation enacted as written, there’s still a chance the Treasury Department will interpret the expansive definition of the term “broker” in a favorably narrow way . What happened in China is “a complete sweep out,” said Michael Wu, CEO of Amber Group, a crypto trading firm in Hong Kong. “The U.S. is seen by many as a gateway to dialogue and discussions.” Bobby Ong, co-founder and chief operating officer of data provider CoinGecko, echoed this sentiment. “The key is that it’s not the final law yet so the market is not pricing that in yet,” he said. “People believe that sanity will prevail at the end and things will be worded better.” What happened in Washington is actually good for crypto There are a few possible silver linings to the crypto tax provision drama. The first is that crypto finally has reached its mainstream moment. It played some part in holding up a $1 trillion bill. It forced U.S. lawmakers to at least acknowledge its existence and relevance. We also saw that the crypto community, which is famously decentralized and often divided, is starting to become a real political force. Advocates didn’t get their way this time, but they definitely got people to pay attention. “The moral victory has been won,” CoinDesk Chief Content Officer Michael Casey wrote. “The once fringe-dwelling crypto community finds itself legitimized, which will eventually result in a policy environment that is constructive to the industry.” It’s not China or the US, it’s just market timing Or maybe, this is just bitcoin being bitcoin, and these price movements have little to do with the politics of China or the U.S. The China crackdown came on the heels of a sizzling market, but by then, prices were already starting to decline. The CoinDesk Bitcoin Price Index (XBX) was trading at over $42,000 by the end of May 17, not long after coming off of its all-time high of over $64,000. “It has more to do with the market participants than the news itself,” says Qiao Wang, partner at DeFi Alliance, an accelerator for startups. News from both countries was equally bad, “but when the China news happened it was very frothy. When the U.S. news happened, most weak hands had sold.” “Market timing is also a key factor,” says Jason Lau, chief operating officer of crypto exchange Okcoin. “The China news came about when markets were already overextended, declining, and looking for more negative news.” In the case of the U.S. infrastructure bill, on the other hand, “with bitcoin recovering, the market was actively looking for positive news – that’s why you saw the positive spin of ‘it’s amazing how the industry was able to get together and bring a united voice.’” The US isn’t the center of the crypto universe This may be my favorite theory. The basic idea is that the market acknowledged that this supposedly disastrous crypto provision might become a reality, but ultimately, it didn’t matter much. Because even in the worst-case scenario, where a big part of the digital asset industry had to leave the U.S., the crypto market would live on. It bears repeating: We don’t yet know how the market will react to whatever happens in Congress this week. But there is still reason to believe that the U.S. is not the center of the crypto universe. There is, of course, no question that the U.S. is a major force in crypto, especially when it comes to institutional investment, but crypto is becoming increasingly global. Asia has long been a critical player, and we are likely to hear more and more about Africa and Latin America. While it is notoriously hard to accurately track crypto use by geography, Chainalysis’s 2021 crypto adoption index ranked the United States at No. 8, after Vietnam, India, Pakistan, Ukraine, Kenya, Nigeria and Venezuela. One could argue that in recent years China may have been more influential than the U.S. That’s why the global market shuddered, albeit briefly, when China banned initial coin offerings and shut down mainland exchanges in 2017. Just a year earlier, the majority of bitcoin trades were in Chinese yuan. China’s crypto market remained active after 2017, but the exchange shutdowns made it much harder to estimate the number of traders. For mining in particular, China was widely seen as wielding disproportionate power, especially in hashrate, the computing power used for mining. Bitcoin’s hashrate dropped by over 50% in July from May, when China cracked down on mining, according to data from Glassnode . The hashrate has since begun to recover as miners set up rigs in other parts of the globe. “The China mining news was an untested shock to Bitcoin the network, with actual immediate impact. This led to true uncertainty around how the hashrate and network would be affected,” Lau said. “Compare this to the U.S. policy discussion, which might have led to some longer-term effects specific to the U.S. Too vague and nothing related to the health of the network itself.” Now, with miners spreading all over the world, China’s influence over the Bitcoin network is declining. We may soon see a day when no single government can have a major impact on the price of bitcoin. Given Bitcoin’s provenance as a decentralized currency that is immune to government control, that’s how it should be. Related Stories Introducing Crypto for Advisors, a Newsletter for Financial Planners Bitcoin on Longest Weekly Winning Run in 9 Months Ahead of Jackson Hole Symposium \|\| Crypto Long & Short: When China Spoke, Bitcoin Reacted. America? Not So Much: Governments can’t stop cryptocurrencies, but they can make it much harder to access them. So it would make sense that unfriendly government policies in the world’s largest economies would play a role in driving down the price ofbitcoin. As a case in point, in the few days after Chinareiterated its crypto crackdownin May, bitcoin at one point plunged by as much as 30%. The drop was another reminder that when China speaks, the market listens. The U.S., it seems, not so much. Related:Crypto Funds Snap 6 Weeks of Outflows as Markets Rally This month, a highly controversial crypto tax provision in the $1 trillion infrastructure bill passed through the Senate, despite ardent attempts to amend it. Crypto advocates claimed that the provision would make it impossible for miners, software developers and other crypto-related actors to comply with U.S. tax regulations, thus threatening to drive much of the industry overseas. This would seem to be a pretty bearish sign. But it wasn’t, at least over the short term. In the few days that followed the advancement of the bill, bitcoin shot up by as much as nearly 7%. In fact, shortly following the drama in Washington the entire crypto market reached amarket cap of $2 trillion, a height not seen since May. Related:Substack Rolls Out Bitcoin Payments via OpenNode and Lightning Network This week, the provision will move to the House, where the language may or may not change. It remains to be seen whether the market responds to what happens in Washington. Why did bitcoin seem to react so differently to the U.S. compared with China? As with anything bitcoin price-related, it’s impossible to say for sure, and there are many other factors that affect prices. But here are some of the more plausible theories. China has long been pro-blockchain and wary of crypto, and this is far from the first time that Beijing has cracked down on the industry. But China’s government seems to mean business this time, at least for shutting down cryptocurrency mining. Chinese miners seem to understand that protesting this policy is unlikely to change anything, and so they are already seeking their fortunes outside the country. The U.S. bill’s passage through the Senate, however, is just the beginning. Now lobbying efforts will focus on the House of Representatives, where the bill will be discussed next week. And if the language isn’t amended there, the crypto industry is not going to give up. Even if the legislation enacted as written, there’s still a chance the Treasury Department will interpret the expansive definition of the term “broker”in a favorably narrow way. What happened in China is “a complete sweep out,” said Michael Wu, CEO of Amber Group, a crypto trading firm in Hong Kong. “The U.S. is seen by many as a gateway to dialogue and discussions.” Bobby Ong, co-founder and chief operating officer of data provider CoinGecko, echoed this sentiment. “The key is that it’s not the final law yet so the market is not pricing that in yet,” he said. “People believe that sanity will prevail at the end and things will be worded better.” There are a few possible silver linings to the crypto tax provision drama. The first is that crypto finally has reached its mainstream moment. It played some part in holding up a $1 trillion bill. It forced U.S. lawmakers to at least acknowledge its existence and relevance. We also saw that the crypto community, which is famously decentralized and often divided, is starting to become a real political force. Advocates didn’t get their way this time, but they definitely got people to pay attention. “The moral victory has been won,” CoinDesk Chief Content Officer Michael Caseywrote.“The once fringe-dwelling crypto community finds itself legitimized, which will eventually result in a policy environment that is constructive to the industry.” Or maybe, this is just bitcoin being bitcoin, and these price movements have little to do with the politics of China or the U.S. The China crackdown came on the heels of a sizzling market, but by then, prices were already starting to decline. The CoinDesk Bitcoin Price Index (XBX) was trading at over $42,000 by the end of May 17, not long after coming off of its all-time high of over $64,000. “It has more to do with the market participants than the news itself,” says Qiao Wang, partner at DeFi Alliance, an accelerator for startups. News from both countries was equally bad, “but when the China news happened it was very frothy. When the U.S. news happened, most weak hands had sold.” “Market timing is also a key factor,” says Jason Lau, chief operating officer of crypto exchange Okcoin. “The China news came about when markets were already overextended, declining, and looking for more negative news.” In the case of the U.S. infrastructure bill, on the other hand, “with bitcoin recovering, the market was actively looking for positive news – that’s why you saw the positive spin of ‘it’s amazing how the industry was able to get together and bring a united voice.’” This may be my favorite theory. The basic idea is that the market acknowledged that this supposedly disastrous crypto provision might become a reality, but ultimately, it didn’t matter much. Because even in the worst-case scenario, where a big part of the digital asset industry had to leave the U.S., the crypto market would live on. It bears repeating: We don’t yet know how the market will react to whatever happens in Congress this week. But there is still reason to believe that the U.S. is not the center of the crypto universe. There is, of course, no question that the U.S. is a major force in crypto, especially when it comes to institutional investment, but crypto is becoming increasingly global. Asia has long been a critical player, and we are likely to hear more and more about Africa and Latin America. While it is notoriously hard to accurately track crypto use by geography, Chainalysis’s 2021crypto adoption indexranked the United States at No. 8, after Vietnam, India, Pakistan, Ukraine, Kenya, Nigeria and Venezuela. One could argue that in recent years China may have been more influential than the U.S. That’s why the global market shuddered, albeit briefly, when China banned initial coin offerings and shut down mainland exchanges in 2017. Just a year earlier, themajority of bitcoin tradeswere in Chinese yuan. China’s crypto market remained active after 2017, but the exchange shutdowns made it much harder to estimate the number of traders. For mining in particular, China was widely seen as wielding disproportionate power, especially in hashrate, the computing power used for mining. Bitcoin’s hashrate dropped by over 50% in July from May, when China cracked down on mining, according to data fromGlassnode. The hashrate has since begun to recover as miners set up rigs inother partsof the globe. “The China mining news was an untested shock to Bitcoin the network, with actual immediate impact. This led to true uncertainty around how the hashrate and network would be affected,” Lau said. “Compare this to the U.S. policy discussion, which might have led to some longer-term effects specific to the U.S. Too vague and nothing related to the health of the network itself.” Now, with miners spreading all over the world, China’s influence over the Bitcoin network is declining. We may soon see a day when no single government can have a major impact on the price of bitcoin. Given Bitcoin’s provenance as a decentralized currency that is immune to government control, that’s how it should be. • Introducing Crypto for Advisors, a Newsletter for Financial Planners • Bitcoin on Longest Weekly Winning Run in 9 Months Ahead of Jackson Hole Symposium \|\| How An Institution Is Preparing For The Big Alibaba Rebound Play: Alibaba Group Holding Ltd -ADR(NYSE:BABA) has been slaughtered since October 2020 when it reached an all-time high of $319.32. The sharp decline has been partly due to poor U.S./China relations as well and Chinese regulators cracking down on the e-commerce giant and its CEOJack Ma. Since July 22 the decline in the stock has accelerated and although there has been some bounce plays for the bulls, the stock has become risky due to new out of China, when the U.S. markets are closed, causing Alibaba to gap down on four separate occasions. Gaps fill 90% of the time, however, so it is very likely Alibaba will trade back up to fill its highest gap near the $212 level in the future. On Friday Alibaba slammed into a support level at the $155.50 level and bounced up slightly from it. The support level was created back in 2019 and could mark the pivot point for Alibaba’s rebound. After hours, just before trading closed for the weekend an institution(s) purchased a whopping $611.71 million worth of common shares of Alibaba. It is likely the trader chose to purchase common shares as opposed tooptionsto avoid time decay if Alibaba trades sideways or lower before rebounding back up to fil the gaps. See Also:Is Alibaba Stock About To Rebound? Why It’s Important:When a block trade occurs it indicates a hedge fund or institution has taken a position in common shares. A block trade always involves large sizing and is typically handled by a blockhouse privately and outside of the open market. Because block trades don’t happen on the open market the large size of the trades doesn’t create volatility in the stock being traded. These types of purchase orders are made by institutions purchasing a large number of a security and retail investors can find watching for block trades useful because it indicates “smart money” has entered into a position. The BABA Technologies Trades:Below is a look at the notable alerts, courtesy ofBenzinga Pro: • At 6:24 p.m., a trader executed a block trade above ask of 1.6 million Alibaba shares at $160.98 per piece. The trade represented a $257.56 million bullish bet. • At 6:28 p.m., a trader executed a block trade above ask of 2.2 million Alibaba shares at $160.98 per piece. The trade represented a $354.15 million bullish bet. BABA Price Action:Alibaba closed Friday’s session down 1.61% at $157.96. See more from Benzinga • Click here for options trades from Benzinga • How Bitcoin Is Preparing For An Explosive Bullish Break • Why Wells Fargo And Bank Of America Could Be In For A Long Term Break Out Amid Bitcoin Adoption © 2021 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. \|\| How An Institution Is Preparing For The Big Alibaba Rebound Play: Alibaba Group Holding Ltd -ADR (NYSE: BABA ) has been slaughtered since October 2020 when it reached an all-time high of $319.32. The sharp decline has been partly due to poor U.S./China relations as well and Chinese regulators cracking down on the e-commerce giant and its CEO Jack Ma . Since July 22 the decline in the stock has accelerated and although there has been some bounce plays for the bulls, the stock has become risky due to new out of China, when the U.S. markets are closed, causing Alibaba to gap down on four separate occasions. Gaps fill 90% of the time, however, so it is very likely Alibaba will trade back up to fill its highest gap near the $212 level in the future. On Friday Alibaba slammed into a support level at the $155.50 level and bounced up slightly from it. The support level was created back in 2019 and could mark the pivot point for Alibaba’s rebound. After hours, just before trading closed for the weekend an institution(s) purchased a whopping $611.71 million worth of common shares of Alibaba. It is likely the trader chose to purchase common shares as opposed to options to avoid time decay if Alibaba trades sideways or lower before rebounding back up to fil the gaps. See Also: Is Alibaba Stock About To Rebound? Why It’s Important: When a block trade occurs it indicates a hedge fund or institution has taken a position in common shares. A block trade always involves large sizing and is typically handled by a blockhouse privately and outside of the open market. Because block trades don’t happen on the open market the large size of the trades doesn’t create volatility in the stock being traded. These types of purchase orders are made by institutions purchasing a large number of a security and retail investors can find watching for block trades useful because it indicates “smart money” has entered into a position. The BABA Technologies Trades: Below is a look at the notable alerts, courtesy of Benzinga Pro : At 6:24 p.m., a trader executed a block trade above ask of 1.6 million Alibaba shares at $160.98 per piece. The trade represented a $257.56 million bullish bet. At 6:28 p.m., a trader executed a block trade above ask of 2.2 million Alibaba shares at $160.98 per piece. The trade represented a $354.15 million bullish bet. Story continues BABA Price Action: Alibaba closed Friday’s session down 1.61% at $157.96. See more from Benzinga Click here for options trades from Benzinga How Bitcoin Is Preparing For An Explosive Bullish Break Why Wells Fargo And Bank Of America Could Be In For A Long Term Break Out Amid Bitcoin Adoption © 2021 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. \|\| David Vs. Goliath: If You Had $5,000 Right Now, Would You Put It On Netflix Or AMC?: Every week, Benzinga conducts a survey to collect sentiment on what traders are most excited about, interested in or thinking about as they manage and build their personal portfolios. This week we posed the following question to over 1,000 Benzinga visitors on entertainment company investing: If you had $5,000, would you put it onNetflix Inc(NASDAQ:NFLX) orAMC Entertainment Holdings Inc(NYSE:AMC) right now? • Netflix: 41.2% • AMC: 58.8% See Also:AMC Entertainment CEO Adam Aron On How The Company Is Playing 'Offense' Over-the-top content platform and production company Netflix received 41.2% of support in this week’s study. Last month, Netflix reported a second-quarter EPS of $2.97, which beat the analyst consensus estimate of $3.15. Netflix also reported sales of $7.34 billion, which beat the analyst consensus estimate of $7.32 billion. From Netflix’s earnings report last month: “In Q2, revenue increased 19% year over year to $7.3 billion, while operating income rose 36% year over year to $1.8 billion. We finished the quarter with over 209 million paid memberships, slightly ahead of our forecast.” “COVID has created some lumpiness in our membership growth (higher growth in 2020, slower growth this year), which is working its way through. We continue to focus on improving our service for our members and bringing them the best stories from around the world,” the company reported. What’s more, is that Netflix revealed last month details on a foray into video games. Netflix says games will be included at no additional subscription cost. “We’re also in the early stages of further expanding into games, building on our earlier efforts around interactivity (eg, Black Mirror Bandersnatch) and our Stranger Things games. We view gaming as another new content category for us, similar to our expansion into original films, animation and unscripted TV,” the company told investors. “Games will be included in members’ Netflix subscription at no additional cost similar to films and series. Initially, we’ll be primarily focused on games for mobile devices. We’re excited as ever about our movies and TV series offering and we expect a long runway of increasing investment and growth across all of our existing content categories, but since we are nearly a decade into our push into original programming, we think the time is right to learn more about how our members value games,” the company reported. Netflix is trading higher by 2.5% over the past six months, up 4.6% on a year-to-date basis and higher by 11.9% over the past year. Meanwhile, 58.8% of traders and investors said they would invest into the world’s largest theatre chain AMC. Last month, AMC reported better-than-expected second-quarter EPS and sales results. The company notably reported it has liquidity available in excess of $2 billion. AMC reported quarterly losses of 71 cents per share, which easily beat the analyst consensus estimate of a loss of 93 cents per share. AMC also reported quarterly sales of $444.7 million, which rather easily beat the analyst consensus estimate of $375.3 million. Adam Aron, Chairman and CEO of AMC commented, “The second quarter of 2021 was transformational for AMC. We raised yet another $1.25 billion of new equity capital (before commissions and fees) in the quarter, boosting our quarter ending liquidity to more than $2 billion (including cash and undrawn revolving lines of credit) which is about double the previous highest ever such mark in AMC’s 101-year history.” As of June 30, 2021, AMC operated 593 domestic theatres representing 100% of its domestic theatres and 335 international theatres representing approximately 95% of its international theatres. AMC says the majority of international theatre operations were suspended for the first two months of the second quarter and did not reopen until early June. Due to a series of epic short squeezes amid high retail investor interest, AMC shares are up a marked 425% over the past six months and an eye-popping 1,612% year-to-date. Adam Aron has been arguably one of the most open and willing CEOs to listen to trader and investor feedback for the brand amid marked retail investor ongoing interest in the company. Aron added in the second-quarter earnings report, “AMC’s journey through this pandemic is not finished, and we are not yet out of the woods. However, while there are no guarantees as to what the future will bring in a still infection-impacted world, one can look ahead and envision a happy Hollywood ending to this story. We would like to think that someday when a movie is filmed about AMC and COVID, its title will be one compelling word, ‘Recovery.’ But, only time will tell.” This survey was conducted by Benzinga in August 2021 and included the responses of a diverse population of adults 18 or older. Opting into the survey was completely voluntary, with no incentives offered to potential respondents. The study reflects results from over 1,000 adults. See more from Benzinga • Click here for options trades from Benzinga • If You Had ,000 Right Now, Would You Put It On Microsoft Or Facebook? • If You Had ,000 Right Now, Would You Put It On Bitcoin Or Baby Dogecoin? © 2021 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. \|\| David Vs. Goliath: If You Had $5,000 Right Now, Would You Put It On Netflix Or AMC?: Every week, Benzinga conducts a survey to collect sentiment on what traders are most excited about, interested in or thinking about as they manage and build their personal portfolios. This week we posed the following question to over 1,000 Benzinga visitors on entertainment company investing: If you had $5,000, would you put it on Netflix Inc (NASDAQ: NFLX ) or AMC Entertainment Holdings Inc (NYSE: AMC ) right now? Netflix: 41.2% AMC: 58.8% See Also: AMC Entertainment CEO Adam Aron On How The Company Is Playing 'Offense' Over-the-top content platform and production company Netflix received 41.2% of support in this week’s study. Last month, Netflix reported a second-quarter EPS of $2.97, which beat the analyst consensus estimate of $3.15. Netflix also reported sales of $7.34 billion, which beat the analyst consensus estimate of $7.32 billion. From Netflix’s earnings report last month: “In Q2, revenue increased 19% year over year to $7.3 billion, while operating income rose 36% year over year to $1.8 billion. We finished the quarter with over 209 million paid memberships, slightly ahead of our forecast.” “COVID has created some lumpiness in our membership growth (higher growth in 2020, slower growth this year), which is working its way through. We continue to focus on improving our service for our members and bringing them the best stories from around the world,” the company reported. What’s more, is that Netflix revealed last month details on a foray into video games. Netflix says games will be included at no additional subscription cost. “We’re also in the early stages of further expanding into games, building on our earlier efforts around interactivity (eg, Black Mirror Bandersnatch) and our Stranger Things games. We view gaming as another new content category for us, similar to our expansion into original films, animation and unscripted TV,” the company told investors. “Games will be included in members’ Netflix subscription at no additional cost similar to films and series. Initially, we’ll be primarily focused on games for mobile devices. We’re excited as ever about our movies and TV series offering and we expect a long runway of increasing investment and growth across all of our existing content categories, but since we are nearly a decade into our push into original programming, we think the time is right to learn more about how our members value games,” the company reported. Story continues Netflix is trading higher by 2.5% over the past six months, up 4.6% on a year-to-date basis and higher by 11.9% over the past year. Meanwhile, 58.8% of traders and investors said they would invest into the world’s largest theatre chain AMC. Last month, AMC reported better-than-expected second-quarter EPS and sales results. The company notably reported it has liquidity available in excess of $2 billion. AMC reported quarterly losses of 71 cents per share, which easily beat the analyst consensus estimate of a loss of 93 cents per share. AMC also reported quarterly sales of $444.7 million, which rather easily beat the analyst consensus estimate of $375.3 million. Adam Aron, Chairman and CEO of AMC commented, “The second quarter of 2021 was transformational for AMC. We raised yet another $1.25 billion of new equity capital (before commissions and fees) in the quarter, boosting our quarter ending liquidity to more than $2 billion (including cash and undrawn revolving lines of credit) which is about double the previous highest ever such mark in AMC’s 101-year history.” As of June 30, 2021, AMC operated 593 domestic theatres representing 100% of its domestic theatres and 335 international theatres representing approximately 95% of its international theatres. AMC says the majority of international theatre operations were suspended for the first two months of the second quarter and did not reopen until early June. Due to a series of epic short squeezes amid high retail investor interest, AMC shares are up a marked 425% over the past six months and an eye-popping 1,612% year-to-date. Adam Aron has been arguably one of the most open and willing CEOs to listen to trader and investor feedback for the brand amid marked retail investor ongoing interest in the company. Aron added in the second-quarter earnings report, “AMC’s journey through this pandemic is not finished, and we are not yet out of the woods. However, while there are no guarantees as to what the future will bring in a still infection-impacted world, one can look ahead and envision a happy Hollywood ending to this story. We would like to think that someday when a movie is filmed about AMC and COVID, its title will be one compelling word, ‘Recovery.’ But, only time will tell.” This survey was conducted by Benzinga in August 2021 and included the responses of a diverse population of adults 18 or older. Opting into the survey was completely voluntary, with no incentives offered to potential respondents. The study reflects results from over 1,000 adults. See more from Benzinga Click here for options trades from Benzinga If You Had ,000 Right Now, Would You Put It On Microsoft Or Facebook? If You Had ,000 Right Now, Would You Put It On Bitcoin Or Baby Dogecoin? © 2021 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. \|\| How Bitcoin Is Preparing For An Explosive Bullish Break: On Saturday Benzinga ran a poll on Twitter asking whether people think Bitcoin (CRYPTO: BTC) would hit $50,000 this weekend. As of Sunday afternoon 71% of respondents chose yes. Although Bitcoin may need a few days for further consolidation as the apex cryptocurrency looks to be preparing for another run north. See Also: Is Bitcoin a good investment in 2021? The Bitcoin Chart: Bitcoin has settled into a bull flag pattern with the pole created between Aug. 19 and Aug. 20 and the flag between Saturday and Sunday. If Bitcoin breaks up bullishly from the formation the implied measured move could see Bitcoin trade about 12.5% higher to the $54,130 level. The measured move of a bull flag pattern is taken by measuring the length of the pole and adding the same percentage or dollar value to the lowest price within the flag pattern. The consolidation into the flag formation has helped Bitcoin to cool off its relative strength index (RSI) which was approaching the 70% level on Friday. When a crypto or stocks RSI reaches over the 70% level it is a sell signal for technical traders. When Bitcoin reached an RSI of over 70% on July 30, Aug. 7, Aug. 9 and Aug. 13 sellers came in and dropped the crypto into consolidation. The low trading volume on Bitcoin also signals the slightly lower prices are a consolidation. Bears should look for high volume on a move lower to feel confident the rally is over. Bitcoin is trading above the eight-day and 21-day exponential moving averages (EMAs) with the eight-day EMA trending above the 21-day, both which are bullish indicators. The crypto is also trading above the 200-day simple moving average which indicates overall sentiment is bullish. Bulls want to see big bullish volume come in and break Bitcoin up bullishly from the flag. The crypto has resistance above at $48,817 and $51,191. Bears want to see big bearish volume come in and drop the crypto down out of the flag pattern and below support of the eight-day EMA. Bitcoin has support below at $44,850 and $42,223. btc_aug._22.png See more from Benzinga Click here for options trades from Benzinga Why Wells Fargo And Bank Of America Could Be In For A Long Term Break Out Amid Bitcoin Adoption Ethereum Classic Stops For Gas, Along With Bitcoin And Doge, On Bullish Moon Trip © 2021 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. View comments \|\| How Bitcoin Is Preparing For An Explosive Bullish Break: On Saturday Benzinga ran a poll on Twitter asking whether people thinkBitcoin(CRYPTO: BTC) would hit $50,000 this weekend. As of Sunday afternoon 71% of respondents chose ‘yes.’ AlthoughBitcoinmay need a few days for further consolidation as the apex cryptocurrency looks to be preparing for another run north. See Also:Is Bitcoin a good investment in 2021? The Bitcoin Chart:Bitcoin has settled into a bull flag pattern with the pole created between Aug. 19 and Aug. 20 and the flag between Saturday and Sunday. If Bitcoin breaks up bullishly from the formation the implied measured move could see Bitcoin trade about 12.5% higher to the $54,130 level. The measured move of a bull flag pattern is taken by measuring the length of the pole and adding the same percentage or dollar value to the lowest price within the flag pattern. The consolidation into the flag formation has helped Bitcoin to cool off its relative strength index (RSI) which was approaching the 70% level on Friday. When a crypto or stock’s RSI reaches over the 70% level it is a sell signal for technical traders. When Bitcoin reached an RSI of over 70% on July 30, Aug. 7, Aug. 9 and Aug. 13 sellers came in and dropped the crypto into consolidation. The low trading volume on Bitcoin also signals the slightly lower prices are a consolidation. Bears should look for high volume on a move lower to feel confident the rally is over. Bitcoin is trading above the eight-day and 21-day exponential moving averages (EMAs) with the eight-day EMA trending above the 21-day, both which are bullish indicators. The crypto is also trading above the 200-day simple moving average which indicates overall sentiment is bullish. 1. Bulls want to see big bullish volume come in and break Bitcoin up bullishly from the flag. The crypto has resistance above at $48,817 and $51,191. 2. Bears want to see big bearish volume come in and drop the crypto down out of the flag pattern and below support of the eight-day EMA. Bitcoin has support below at $44,850 and $42,223.btc_aug._22.png See more from Benzinga • Click here for options trades from Benzinga • Why Wells Fargo And Bank Of America Could Be In For A Long Term Break Out Amid Bitcoin Adoption • Ethereum Classic Stops For Gas, Along With Bitcoin And Doge, On Bullish Moon Trip © 2021 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. \|\| How Bitcoin Is Preparing For An Explosive Bullish Break: On Saturday Benzinga ran a poll on Twitter asking whether people thinkBitcoin(CRYPTO: BTC) would hit $50,000 this weekend. As of Sunday afternoon 71% of respondents chose ‘yes.’ AlthoughBitcoinmay need a few days for further consolidation as the apex cryptocurrency looks to be preparing for another run north. See Also:Is Bitcoin a good investment in 2021? The Bitcoin Chart:Bitcoin has settled into a bull flag pattern with the pole created between Aug. 19 and Aug. 20 and the flag between Saturday and Sunday. If Bitcoin breaks up bullishly from the formation the implied measured move could see Bitcoin trade about 12.5% higher to the $54,130 level. The measured move of a bull flag pattern is taken by measuring the length of the pole and adding the same percentage or dollar value to the lowest price within the flag pattern. The consolidation into the flag formation has helped Bitcoin to cool off its relative strength index (RSI) which was approaching the 70% level on Friday. When a crypto or stock’s RSI reaches over the 70% level it is a sell signal for technical traders. When Bitcoin reached an RSI of over 70% on July 30, Aug. 7, Aug. 9 and Aug. 13 sellers came in and dropped the crypto into consolidation. The low trading volume on Bitcoin also signals the slightly lower prices are a consolidation. Bears should look for high volume on a move lower to feel confident the rally is over. Bitcoin is trading above the eight-day and 21-day exponential moving averages (EMAs) with the eight-day EMA trending above the 21-day, both which are bullish indicators. The crypto is also trading above the 200-day simple moving average which indicates overall sentiment is bullish. 1. Bulls want to see big bullish volume come in and break Bitcoin up bullishly from the flag. The crypto has resistance above at $48,817 and $51,191. 2. Bears want to see big bearish volume come in and drop the crypto down out of the flag pattern and below support of the eight-day EMA. Bitcoin has support below at $44,850 and $42,223.btc_aug._22.png See more from Benzinga • Click here for options trades from Benzinga • Why Wells Fargo And Bank Of America Could Be In For A Long Term Break Out Amid Bitcoin Adoption • Ethereum Classic Stops For Gas, Along With Bitcoin And Doge, On Bullish Moon Trip © 2021 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. \|\| Potentially Lost Bitcoin in Dormant Wallets Totals 34% of Supply, Says Glassnode: BeInCrypto – The total amount of lost or long term held bitcoin is said to now be close to 34% of the current supply of bitcoin. On-chain market analysis company Glassnode shows that the total amount of long term bitcoin holders or potentially lost bitcoin has reached 33.96%. The total amount is 7,131,084 bitcoin held in these wallets. Source:Glassnode The on-chain firm also recently highlighted that bitcoin exchange outflows have returned to a dominance of outflows through August as investors withdraw BTC. “The market has transitioned through a number of phases of exchange flow dominance over the last year, with outflow dominance last seen in late 2020,” the tweetstated. This storywas seen first onBeInCryptoJoin our Telegram Groupand get trading signals, a free trading course and more stories likethisonBeInCrypto \|\| Potentially Lost Bitcoin in Dormant Wallets Totals 34% of Supply, Says Glassnode: BeInCrypto – The total amount of lost or long term held bitcoin is said to now be close to 34% of the current supply of bitcoin. On-chain market analysis company Glassnode shows that the total amount of long term bitcoin holders or potentially lost bitcoin has reached 33.96%. The total amount is 7,131,084 bitcoin held in these wallets. Source:Glassnode The on-chain firm also recently highlighted that bitcoin exchange outflows have returned to a dominance of outflows through August as investors withdraw BTC. “The market has transitioned through a number of phases of exchange flow dominance over the last year, with outflow dominance last seen in late 2020,” the tweetstated. This storywas seen first onBeInCryptoJoin our Telegram Groupand get trading signals, a free trading course and more stories likethisonBeInCrypto \|\| Potentially Lost Bitcoin in Dormant Wallets Totals 34% of Supply, Says Glassnode: BeInCrypto – The total amount of lost or long term held bitcoin is said to now be close to 34% of the current supply of bitcoin. On-chain market analysis company Glassnode shows that the total amount of long term bitcoin holders or potentially lost bitcoin has reached 33.96%. The total amount is 7,131,084 bitcoin held in these wallets. Source: Glassnode The on-chain firm also recently highlighted that bitcoin exchange outflows have returned to a dominance of outflows through August as investors withdraw BTC. “The market has transitioned through a number of phases of exchange flow dominance over the last year, with outflow dominance last seen in late 2020,” the tweet s tated . This story was seen first on BeInCrypto Join our Telegram Group and get trading signals, a free trading course and more stories like this on BeInCrypto \|\| These Are The Ten Top Mid-Cap Growth Mutual Funds: Investing in growth stocks is always an ideal strategy as they are expected to offer an above average growth rate. Moreover, if the growth stock belongs to the mid-cap, then many consider it to be even better than the small- or large-cap. Generally, mid-cap companies are not as volatile as small-cap and have the potential to offer a higher percentage return than large-cap stocks. However, the only problem that investors face is selecting the right growth stocks. One best way to overcome this problem is to invest through Mid-Cap Growth Mutual Funds. Lets take a look at the ten top Mid-Cap Growth Mutual Funds. Q2 2021 hedge fund letters, conferences and more Ten Top Mid-Cap Growth Mutual Funds We have used the past one-year return data (from U.S. News ) to rank the ten top Mid-Cap Growth Mutual Funds. These are the ten top Mid-Cap Growth Mutual Funds: Morgan Stanley Inst Discovery Port (MACGX, 63%) MACGX normally invests in established and emerging companies having capitalizations within the range of companies part of the Russell Midcap® Growth Index. This fund has given a return of over 9% in the last three months and more than 49% in the last three years. MACGX has more than $4.60 billion in total assets. The top three holdings of the fund are: Morgan Stanley InstlLqdty TrsSecs Instl, Pinterest and Twitter. Principal Small-MidCap Growth Fund (PSMHX, 64%) PSMHX normally invests in the equity securities of small to medium market cap companies. This fund has given a return of over 2% in the last three months. PSMHX has more than $10 million in total assets. The top three holdings of the fund are: SVB Financial Group , Horizon Therapeutics and Zendesk. Kinetics Market Opportunities Fund (KMKAX, 77%) KMKAX invests all its assets in the Market Opportunities Portfolio, which is a series of Kinetics Portfolios Trust. This fund has given a return of over -6% in the last three months and more than 20% in the last three years. KMKAX has more than $130 million in total assets. The top three holdings of the fund are: Texas Pacific Land, Grayscale Bitcoin Trust and DREAM Unlimited. Story continues American Beacon ARK Transfmt Innov Fd (ADNAX, 78%) ADNAX normally invests in a portfolio of equity securities, such as common stocks and other equity investments. This fund has given a return of over 7% in the last three months and more than 42% in the last three years. ADNAX has about $1.10 billion in total assets. The top three holdings of the fund are: Tesla , Teladoc Health and Roku . Kinetics Paradigm Fund (KNPAX, 91%) KNPAX puts all its investable assets in the Paradigm Portfolio, which is a Kinetics Portfolios Trust. This fund has given a return of over -1% in the last three months and more than 19% in the last three years. KNPAX has more than $900 million in total assets. The top three holdings of the fund are: Texas Pacific Land , Grayscale Bitcoin Trust and Brookfield Asset Management. Essex Environmental Opportunities Fund (GEOSX, 93%) GEOSX primarily invests in securities engaged in environmental investment themes," such as Environmental Finance, Renewable Energy, Low Carbon Commerce and more. This fund has given a return of over 7% in the last three months and more than 26% in the last three years. GEOSX has more than $64 million in total assets. The top three holdings of the fund are: Fidelity® Inv MM Fds Government, Raven Industries and Cree. Baron Focused Growth Fund (BFGFX, 94%) BFGFX invests with a long-term objective, primarily in the common stocks of U.S. small- and mid-sized growth firms. This fund has given a return of over 2% in the last three months and more than 39% in the last three years. BFGFX has more than $680 million in total assets. The top three holdings of the fund are: Tesla, CoStar Group and Penn National Gaming. Tanaka Growth Fund (TGFRX, 106%) TGFRX invests in the common stocks and other equity securities of companies of any size. It may also invest in foreign securities, as well as emerging market securities. This fund has given a return of over 1% in the last three months and more than 26% in the last three years. TGFRX has more than $21 million in total assets. The top three holdings of the fund are: Amyris, Apple and Onto Innovation. Shelton Green Alpha Fund (NEXTX, 113%) NEXTX mainly invests in the companies that it believes are among the best in managing environmental risks and opportunities, as well as show above average growth potential. This fund has given a return of over 9% in the last three months and more than 44% in the last three years. NEXTX has more than $300 million in total assets. The top three holdings of the fund are: Moderna, JinkoSolar Holding and CRISPR Therapeutics. Kinetics Spin-Off and Corporate Rest Fd (LSHAX, 114%) LSHAX primarily invests in the equity securities of spin-off companies, as well as companies undergoing any other type of corporate restructuring. This fund has given a return of over 4% in the last three months and more than 22% in the last three years. LSHAX has $27.60 million in total assets. The top three holdings of the fund are: Texas Pacific Land, PayPal Holdings and DREAM Unlimited. \|\| These Are The Ten Top Mid-Cap Growth Mutual Funds: Investing in growth stocks is always an ideal strategy as they are expected to offer an above average growth rate. Moreover, if the growthstockbelongs to the mid-cap, then many consider it to be even better than the small- or large-cap. Generally, mid-cap companies are not as volatile assmall-capand have the potential to offer a higher percentage return than large-cap stocks. However, the only problem that investors face is selecting the right growth stocks. One best way to overcome this problem is to invest through Mid-Cap Growth Mutual Funds. Let’s take a look at the ten top Mid-Cap Growth Mutual Funds. Q2 2021 hedge fund letters, conferences and more We have used the past one-year return data (fromU.S. News) to rank the ten top Mid-Cap Growth Mutual Funds. These are the ten top Mid-Cap Growth Mutual Funds: 1. Morgan Stanley Inst Discovery Port (MACGX, 63%) MACGXnormally invests in established and emerging companies having capitalizations within the range of companies part of the Russell Midcap® Growth Index. This fund has given a return of over 9% in the last three months and more than 49% in the last three years. MACGX has more than $4.60 billion in total assets. The top three holdings of the fund are: Morgan Stanley InstlLqdty TrsSecs Instl, Pinterest and Twitter. 1. Principal Small-MidCap Growth Fund (PSMHX, 64%) PSMHX normally invests in the equity securities of small to medium market cap companies. This fund has given a return of over 2% in the last three months. PSMHX has more than $10 million in total assets. The top three holdings of the fund are:SVB Financial Group, Horizon Therapeutics and Zendesk. 1. Kinetics Market Opportunities Fund (KMKAX, 77%) KMKAX invests all its assets in the Market Opportunities Portfolio, which is a series of Kinetics Portfolios Trust. This fund has given a return of over -6% in the last three months and more than 20% in the last three years. KMKAX has more than $130 million in total assets. The top three holdings of the fund are: Texas Pacific Land,Grayscale Bitcoin Trustand DREAM Unlimited. 1. American Beacon ARK Transfmt Innov Fd (ADNAX, 78%) ADNAX normally invests in a portfolio of equity securities, such as common stocks and other equity investments. This fund has given a return of over 7% in the last three months and more than 42% in the last three years. ADNAX has about $1.10 billion in total assets. The top three holdings of the fund are:Tesla, Teladoc Health andRoku. 1. Kinetics Paradigm Fund (KNPAX, 91%) KNPAX puts all its investable assets in the Paradigm Portfolio, which is a Kinetics Portfolios Trust. This fund has given a return of over -1% in the last three months and more than 19% in the last three years. KNPAX has more than $900 million in total assets. The top three holdings of the fund are:Texas Pacific Land, Grayscale Bitcoin Trust and Brookfield Asset Management. 1. Essex Environmental Opportunities Fund (GEOSX, 93%) GEOSX primarily invests in securities engaged in “environmental investment themes," such as Environmental Finance, Renewable Energy, Low Carbon Commerce and more. This fund has given a return of over 7% in the last three months and more than 26% in the last three years. GEOSX has more than $64 million in total assets. The top three holdings of the fund are: Fidelity® Inv MM Fds Government,Raven Industriesand Cree. 1. Baron Focused Growth Fund (BFGFX, 94%) BFGFX invests with a long-term objective, primarily in the common stocks of U.S. small- and mid-sized growth firms. This fund has given a return of over 2% in the last three months and more than 39% in the last three years. BFGFX has more than $680 million in total assets. The top three holdings of the fund are: Tesla,CoStar Groupand Penn National Gaming. 1. Tanaka Growth Fund (TGFRX, 106%) TGFRX invests in the common stocks and other equity securities of companies of any size. It may also invest in foreign securities, as well asemerging marketsecurities. This fund has given a return of over 1% in the last three months and more than 26% in the last three years. TGFRX has more than $21 million in total assets. The top three holdings of the fund are: Amyris,Appleand Onto Innovation. 1. Shelton Green Alpha Fund (NEXTX, 113%) NEXTXmainly invests in the companies that it believes are among the best in managing environmental risks and opportunities, as well as show above average growth potential. This fund has given a return of over 9% in the last three months and more than 44% in the last three years. NEXTX has more than $300 million in total assets. The top three holdings of the fund are: Moderna, JinkoSolar Holding and CRISPR Therapeutics. 1. Kinetics Spin-Off and Corporate Rest Fd (LSHAX, 114%) LSHAX primarily invests in the equity securities of spin-off companies, as well as companies undergoing any other type of corporate restructuring. This fund has given a return of over 4% in the last three months and more than 22% in the last three years. LSHAX has $27.60 million in total assets. The top three holdings of the fund are: Texas Pacific Land,PayPal Holdingsand DREAM Unlimited. \|\| Bitcoin Knocks on Door of $50,000 After Rising Above Resistance: (Bloomberg) -- Bitcoin is nearing the key $50,000 level as it continues to rise out of a multi-month period of weakness. The largest cryptocurrency reached as high as $49,803, the highest since May 15, midday Saturday in New York. It was trading around $49,000 as of 9:30 a.m. Sunday. Its rally is overcoming a rare confluence of technical obstacles, including an April low of about $47,000 and a Fibonacci and Ichimoku cluster between $47,000 and $48,000. The 61.8% Fibonacci retracement of the April to June downtrend -- at $51,000 -- still looms as a potential obstacle, along with the round-number $50,000 mark. “The next major resistance, for now, is at the $50,000 zone,” said Konstantin Anissimov, executive director at CEX.IO crypto exchange. “Should more buyers dive in to push the price above the $50,000 level, a frenzy may be ushered in to steer the price toward a medium-term target of $55,000.” Bitcoin has recovered after trading in a range of about $30,000 to $40,000 for many weeks, after it plunged from a record near $65,000 in mid-April. Still, it’s up significantly in the past year amid institutional adoption and endorsements from big names like Paul Tudor Jones and Stan Druckenmiller. Global crypto adoption has risen some 881% in the past 12 months, according to Chainalysis. The total market value of cryptocurrencies was at $2.17 trillion on Sunday, according to data from CoinGecko.com, up 1.1% in the past 24 hours. The overall value has been helped in the past seven days by the 18% rally in Cardano and Binance Coin’s 11% gain, while Dogecoin is up about 9% over the period and Solana 73%, CoinGecko pricing showed. More stories like this are available onbloomberg.com Subscribe nowto stay ahead with the most trusted business news source. ©2021 Bloomberg L.P. \|\| Bitcoin Knocks on Door of $50,000 After Rising Above Resistance: (Bloomberg) -- Bitcoin is nearing the key $50,000 level as it continues to rise out of a multi-month period of weakness. The largest cryptocurrency reached as high as $49,803, the highest since May 15, midday Saturday in New York. It was trading around $49,000 as of 9:30 a.m. Sunday. Its rally is overcoming a rare confluence of technical obstacles, including an April low of about $47,000 and a Fibonacci and Ichimoku cluster between $47,000 and $48,000. The 61.8% Fibonacci retracement of the April to June downtrend -- at $51,000 -- still looms as a potential obstacle, along with the round-number $50,000 mark. “The next major resistance, for now, is at the $50,000 zone,” said Konstantin Anissimov, executive director at CEX.IO crypto exchange. “Should more buyers dive in to push the price above the $50,000 level, a frenzy may be ushered in to steer the price toward a medium-term target of $55,000.” Bitcoin has recovered after trading in a range of about $30,000 to $40,000 for many weeks, after it plunged from a record near $65,000 in mid-April. Still, it’s up significantly in the past year amid institutional adoption and endorsements from big names like Paul Tudor Jones and Stan Druckenmiller. Global crypto adoption has risen some 881% in the past 12 months, according to Chainalysis. The total market value of cryptocurrencies was at $2.17 trillion on Sunday, according to data from CoinGecko.com, up 1.1% in the past 24 hours. The overall value has been helped in the past seven days by the 18% rally in Cardano and Binance Coin’s 11% gain, while Dogecoin is up about 9% over the period and Solana 73%, CoinGecko pricing showed. More stories like this are available onbloomberg.com Subscribe nowto stay ahead with the most trusted business news source. ©2021 Bloomberg L.P. [Social Media Buzz] None available.	47706.12, 48960.79, 46942.22, 49058.67, 48902.40, 48829.83, 47054.98, 47166.69, 48847.03, 49327.72
Given the historical Bitcoin prices from the last 90 days, predict the next 10 daily closing prices. The historical prices are: 10680.84, 10796.95, 10974.91, 10948.99, 10944.59, 11094.35, 10938.27, 10462.26, 10538.46, 10246.19, 10760.07, 10692.72, 10750.72, 10775.27, 10709.65, 10844.64, 10784.49, 10619.45, 10575.97, 10549.33, 10669.58, 10793.34, 10604.41, 10668.97, 10915.69, 11064.46, 11296.36, 11384.18, 11555.36, 11425.90, 11429.51, 11495.35, 11322.12, 11358.10, 11483.36, 11742.04, 11916.33, 12823.69, 12965.89, 12931.54, 13108.06, 13031.17, 13075.25, 13654.22, 13271.29, 13437.88, 13546.52, 13781.00, 13737.11, 13550.49, 13950.30, 14133.71, 15579.85, 15565.88, 14833.75, 15479.57, 15332.32, 15290.90, 15701.34, 16276.34, 16317.81, 16068.14, 15955.59, 16716.11, 17645.41, 17804.01, 17817.09, 18621.31, 18642.23, 18370.00, 18364.12, 19107.46, 18732.12, 17150.62, 17108.40, 17717.41, 18177.48, 19625.84, 18803.00, 19201.09, 19445.40, 18699.77, 19154.23, 19345.12, 19191.63, 18321.14, 18553.92, 18264.99, 18058.90, 18803.66.	[Bitcoin Technical Analysis for 2020-12-12] Volume: 21752580802, RSI (14-day): 56.64, 50-day EMA: 16780.10, 200-day EMA: 12843.50 [Wider Market Context] None available. [Recent News (last 7 days)] FinCEN Encourages Banks to Share Customer Information With Each Other: A U.S. agency that fights financial crime is encouraging financial institutions, ranging from banks to cryptocurrency exchanges, to share customer information with one another to catch wrongdoers. The Financial Crimes Enforcement Network (FinCEN), a bureau of the Treasury Department, issued afact sheetThursday spelling out that the 2001 Patriot Act gives institutions wide latitude in what kind of information they are permitted to share. Overall, the sheet seemingly lowers the obstacles for further sharing of personal customer information among banks, the threshold of what qualifies as “suspicious” activity and whether the entities sharing customer information even need to be financial institutions. Related:How the Incoming Administration Can Fix Crypto Regulation Among other matters, the fact sheet clarifies that Section 314(b) of the act, and the regulations putting it into practice, “impose no limitations on the sharing of personally identifiable information.” The sheet added that institutions have to protect the security and confidentiality of this data, and use it only for the purposes laid out in the nearly 20-year-old law, passed a month after the 9/11 attacks. Still, the guidance is likely to chafe privacy advocates inside and outside the crypto community who are already uneasy about thehoneypot of personal datathat FinCEN’s suspicious activity report (SAR) database has become. The more places information is shared, after all, the more ways it can be misused or stolen. “It seems that in the spirit of ‘protecting our communities and preventing crimes and bad acts,’ FinCEN’s guidance is dramatically expanding its expectation of banks to share data, at the expense of individuals’ privacy, while potentially exposing them to very real cyber risks, when it is not clear that such a move is necessary,” said Nizan Geslevich Packin, an associate professor of law at City University of New York. In aspeechThursday, FinCEN Director Kenneth Blanco framed interbank data sharing as a public safety measure. Related:The Bitcoin Banking Battle Heats Up “Information sharing among financial institutions through 314(b) is critical to identifying, reporting and preventing crime and bad acts,” he said in prepared remarks for a virtual gathering of bankers and lawyers. “It is an important part of how we protect our national security.” However, he suggested institutions have been reluctant to take part. “Many have been calling for clarity in this area for a long time,” so the agency saw fit “to clarify in greater detail the circumstances where 314(b) applies, with the hope of enhancing participation,” Blanco said. The information that can be shared is not limited to activities suspected of involving proceeds of a specified unlawful activity (SUA), Blanco said. Institutions do not need “specific information that these activities directly relate to proceeds of an SUA, or to have identified specific proceeds of an SUA being laundered” in order to share data with each other, he said. Nor must they have made “a conclusive determination that the activity is suspicious.” The FinCEN fact sheet claims additional reporting can shed “more light upon overall financial trails” and build “a more comprehensive and accurate picture of a customer’s activities that may involve money laundering or [where] terrorist financing is suspected.” Angela Angelovska-Wilson, co-founder of DLx Law and former chief legal and compliance officer at blockchain software firm Digital Asset, recognized that while multiple financial entities handling sensitive data could create additional vulnerabilities, it may ultimately be a positive. If banks can share data about what might be suspicious among each other, it could stop some entities from acting with blinders on, she argued. For example, if someone is engaging in one kind of activity in a certain account, and then behaving differently in another, that might seem suspicious to both banks. But if they communicate about this data before filing a SAR, it could benefit the customer as a more holistic picture of their financial activities could illuminate that they’re not doing anything suspicious. “Basically what 314(b) has done in the past is it has hampered people’s ability to share information in order to figure out whether or not something is actually suspicious and be able to thoughtfully report to FinCEN,” said Angelovska-Wilson. Yet others read FinCEN’s continued efforts to widen the information-snagging net as a sign of policy failure. “This shows that Congress has not been performing its oversight function,” said Michael German, a former FBI special agent, privacy expert and a fellow at the Brennan Center for Justice. “It’s waiting for the Treasury Department to claim that this is an effective measure against terrorism or money laundering. But after two decades of increased sharing of suspicious activity reports, it has not resulted in measurable successes against terrorism or money laundering. It’s time for our elected representatives to protect our data, the way that is promised under the Bank Secrecy Act, rather than these exceptions for sharing.” FinCEN, he said, “is only going to keep pushing for more information and more information, even if that information is useless to its stated goals.” Financial institutions are still forbidden to disclose that a SAR exists, and that applies even when the report was filed jointly with another company, FinCEN’s fact sheet stated. “However, financial institutions participating in Section 314(b) that are considering filing or have filed a joint SAR may freely discuss the prospective or already filed joint SAR [among] themselves,” the fact sheet said. While crypto exchanges aren’t explicitly listed, money services businesses and securities brokers are. Both categories include cryptocurrency businesses. Compliance vendors and associations of financial institutions, including unincorporated ones governed by a contract between members, are also permitted to take part in information-sharing, FinCEN added. “The big takeaway from this seems to be that FinCEN is encouraging people to engage in more data sharing,” said Michael Yaeger, a shareholder at the law firm of Carlton Fields, who focuses on government investigations and cybersecurity matters. “They are doing so in a variety of ways, including pointing out that a financial institution does not need to have made a conclusive determination that activity is suspicious or closely tied to a specified unlawful activity. An institution need not have concluded a SAR must be filed.” As CoinDeskreported Thursday, over the years there has been a move toward so-called defensive filing, meaning that if there is any question something could be deemed suspicious, banks are encouraged to file a SAR. This has led to what one compliance officer called an “avalanche of data” because financial institutions have been filing more and more to FinCEN. “Many questions about the safety of the information collected by FinCEN, as well as the bureau’s failure to provide clear guidelines regarding how and when it eventually deletes the data it has, remain unanswered,” Packin said. “This is concerning … in an era in which cybersecurity [has] become a major concern.” Read more:How FinCEN Became a Honeypot for Sensitive Personal Data • FinCEN Encourages Banks to Share Customer Information With Each Other • FinCEN Encourages Banks to Share Customer Information With Each Other \|\| FinCEN Encourages Banks to Share Customer Information With Each Other: A U.S. agency that fights financial crime is encouraging financial institutions, ranging from banks to cryptocurrency exchanges, to share customer information with one another to catch wrongdoers. The Financial Crimes Enforcement Network (FinCEN), a bureau of the Treasury Department, issued a fact sheet Thursday spelling out that the 2001 Patriot Act gives institutions wide latitude in what kind of information they are permitted to share. Overall, the sheet seemingly lowers the obstacles for further sharing of personal customer information among banks, the threshold of what qualifies as “suspicious” activity and whether the entities sharing customer information even need to be financial institutions. Related: How the Incoming Administration Can Fix Crypto Regulation Among other matters, the fact sheet clarifies that Section 314(b) of the act, and the regulations putting it into practice, “impose no limitations on the sharing of personally identifiable information.” The sheet added that institutions have to protect the security and confidentiality of this data, and use it only for the purposes laid out in the nearly 20-year-old law, passed a month after the 9/11 attacks. Still, the guidance is likely to chafe privacy advocates inside and outside the crypto community who are already uneasy about the honeypot of personal data that FinCEN’s suspicious activity report (SAR) database has become. The more places information is shared, after all, the more ways it can be misused or stolen. “It seems that in the spirit of ‘protecting our communities and preventing crimes and bad acts,’ FinCEN’s guidance is dramatically expanding its expectation of banks to share data, at the expense of individuals’ privacy, while potentially exposing them to very real cyber risks, when it is not clear that such a move is necessary,” said Nizan Geslevich Packin, an associate professor of law at City University of New York. Story continues In a speech Thursday, FinCEN Director Kenneth Blanco framed interbank data sharing as a public safety measure. Related: The Bitcoin Banking Battle Heats Up “Information sharing among financial institutions through 314(b) is critical to identifying, reporting and preventing crime and bad acts,” he said in prepared remarks for a virtual gathering of bankers and lawyers. “It is an important part of how we protect our national security.” However, he suggested institutions have been reluctant to take part. “Many have been calling for clarity in this area for a long time,” so the agency saw fit “to clarify in greater detail the circumstances where 314(b) applies, with the hope of enhancing participation,” Blanco said. Lowering the bar The information that can be shared is not limited to activities suspected of involving proceeds of a specified unlawful activity (SUA), Blanco said. Institutions do not need “specific information that these activities directly relate to proceeds of an SUA, or to have identified specific proceeds of an SUA being laundered” in order to share data with each other, he said. Nor must they have made “a conclusive determination that the activity is suspicious.” The FinCEN fact sheet claims additional reporting can shed “more light upon overall financial trails” and build “a more comprehensive and accurate picture of a customer’s activities that may involve money laundering or [where] terrorist financing is suspected.” Angela Angelovska-Wilson, co-founder of DLx Law and former chief legal and compliance officer at blockchain software firm Digital Asset, recognized that while multiple financial entities handling sensitive data could create additional vulnerabilities, it may ultimately be a positive. If banks can share data about what might be suspicious among each other, it could stop some entities from acting with blinders on, she argued. For example, if someone is engaging in one kind of activity in a certain account, and then behaving differently in another, that might seem suspicious to both banks. But if they communicate about this data before filing a SAR, it could benefit the customer as a more holistic picture of their financial activities could illuminate that they’re not doing anything suspicious. “Basically what 314(b) has done in the past is it has hampered people’s ability to share information in order to figure out whether or not something is actually suspicious and be able to thoughtfully report to FinCEN,” said Angelovska-Wilson. Yet others read FinCEN’s continued efforts to widen the information-snagging net as a sign of policy failure. “This shows that Congress has not been performing its oversight function,” said Michael German, a former FBI special agent, privacy expert and a fellow at the Brennan Center for Justice. “It’s waiting for the Treasury Department to claim that this is an effective measure against terrorism or money laundering. But after two decades of increased sharing of suspicious activity reports, it has not resulted in measurable successes against terrorism or money laundering. It’s time for our elected representatives to protect our data, the way that is promised under the Bank Secrecy Act, rather than these exceptions for sharing.” FinCEN, he said, “is only going to keep pushing for more information and more information, even if that information is useless to its stated goals.” Don’t tell a soul Financial institutions are still forbidden to disclose that a SAR exists, and that applies even when the report was filed jointly with another company, FinCEN’s fact sheet stated. “However, financial institutions participating in Section 314(b) that are considering filing or have filed a joint SAR may freely discuss the prospective or already filed joint SAR [among] themselves,” the fact sheet said. While crypto exchanges aren’t explicitly listed, money services businesses and securities brokers are. Both categories include cryptocurrency businesses. Compliance vendors and associations of financial institutions, including unincorporated ones governed by a contract between members, are also permitted to take part in information-sharing, FinCEN added. “The big takeaway from this seems to be that FinCEN is encouraging people to engage in more data sharing,” said Michael Yaeger, a shareholder at the law firm of Carlton Fields, who focuses on government investigations and cybersecurity matters. “They are doing so in a variety of ways, including pointing out that a financial institution does not need to have made a conclusive determination that activity is suspicious or closely tied to a specified unlawful activity. An institution need not have concluded a SAR must be filed.” As CoinDesk reported Thursday , over the years there has been a move toward so-called defensive filing, meaning that if there is any question something could be deemed suspicious, banks are encouraged to file a SAR. This has led to what one compliance officer called an “avalanche of data” because financial institutions have been filing more and more to FinCEN. “Many questions about the safety of the information collected by FinCEN, as well as the bureau’s failure to provide clear guidelines regarding how and when it eventually deletes the data it has, remain unanswered,” Packin said. “This is concerning … in an era in which cybersecurity [has] become a major concern.” Read more: How FinCEN Became a Honeypot for Sensitive Personal Data Related Stories FinCEN Encourages Banks to Share Customer Information With Each Other FinCEN Encourages Banks to Share Customer Information With Each Other \|\| Market Wrap: Bitcoin Holding at $18K; Active Ethereum Addresses up 140% in 2020: Bitcoin is struggling to make gains as an expected low-volume weekend could push price further down. Meanwhile, the increasing number of active Ethereum addresses this year is a testament to the network’s growth. • Bitcoin(BTC) trading around $18,019 as of 21:00 UTC (4 p.m. ET). Slipping 2% over the previous 24 hours. • Bitcoin’s 24-hour range: $17,593-$18,404 (CoinDesk 20) • BTC slightly above its 10-hour moving average but below the 50-hour on the hourly chart, a sideways signal for market technicians. The price of bitcoin fell to as low as $17,593 Friday, according to CoinDesk 20 data. The price has recovered somewhat, hovering around $18,000 territory, and was at $17,962 as of press time. Read More:Bitcoin Whales Buy Low, Sell High; Retail Investors Chase Rallies: Data Related:First Mover: Horrible 2020 Economy Proved Best Thing for Bitcoin “BTC looks like it lost momentum,” said Misha Alefirenko, co-founder of VelvetFormula, a digital asset liquidity provider. “If buyers are not stepping in soon, we may see a testing of the $16,400-$16,900 range over the weekend.” Friday is shaping up to be a better day in terms of volume at over $1 billion total for the eight major exchanges tracked by the CoinDesk 20 as of press time. Thursday’s figure was $965 million. However, weekends almost always have lower volume, such as last weekend’s $578 million daily average, according to CoinDesk 20 data. “It’s a fairly balanced market at the moment, with the fresh inflows from institutional money met with profit taking from some existing large players as well as increased miners’ hedging,” noted Jean-Marc Bonnefous, partner at investment firm Tellurian Capital. Read More:MicroStrategy’s Bitcoin-Driven Offering Boosted to $650M Related:Mergers Position Yearn Finance as the Amazon of DeFi The derivatives market is also a factor, according to Bonnefous. “There is a big concentration around the $16,000 strike for the BTC options expiry on 25th December, which acts as a polarizing target short term,” he said. The $16,000 strike is the third-most popular strike point in the bitcoin options market, based on data from aggregator Skew. “We are now seeing public companies like MicroStrategy using leverage to acquire a larger position in bitcoin,” said Michael Gord, chief executive officer of quant crypto firm Global Digital Assets. December doldrums may continue, but many analysts are hyped up about bitcoin’s potential in 2021. “Next year, as annual budgets reopen, I expect a huge surge in demand to enter the industry from enterprises and institutional investors,” Global Digital Asset’s Gord said. “Macro matters and, in particular, risks surrounding Brexit may rattle equity markets and result in the U.S. dollar potentially strengthening,” said Denis Vinokourov, head of research for crypto brokerage Bequant. Equity markets are down globally Friday on some macroeconomic uncertainty. • Asia’s Nikkei 225 closed in the red 0.40%,led lower by losses in SoftBank Group, which fell 4.7% in Japan on Friday. • The FTSE 100 in Europe ended the day slipping 0.80% asBrexit negotiations closed in on a key deadline, leaving investors to sell on the uncertainty. • The S&P 500 in the United States dipped 0.13% asinvestors remain unsure regarding the potential for government stimulus to help boost the economy. “But given bitcoin and broader digital assets this year in the wake of COVID-19 pandemic and U.S. elections, expect bitcoin to show a similar amount of resilience,” added Vinokourov. Ether(ETH), the second-largest cryptocurrency by market capitalization, was down Friday, trading around $548 and slipping 3.1% in 24 hours as of 21:00 UTC (4:00 p.m. ET). The number of active addresses on the Ethereum network has increased to 379,249 as of Dec. 10 from 158,039 on Jan. 1, a 140% increase. Bequant’s Vinokourov told CoinDesk this data, in addition to metrics showing the movement of Ethereum users from centralized exchanges (CeFi) to decentralized exchanges (DeFi), is a huge liquidity opportunity for token economies within that ecosystem. Read More:This One Graph Shows Ether Going From CeFi to DeFi: Glassnode “The amount of gas fees spent on ETH deposits to centralized exchanges has fallen to less than 1%, as of Dec. 9, from around 26% in late October 2017, according to Glassnode data,” Vinokourov noted. “There is plenty of liquidity in the market. As such, DeFi tokens look particularly attractive even with the recent downside.” Digital assets on theCoinDesk 20are mostly red Friday. Notable winners as of 21:00 UTC (4:00 p.m. ET): • cosmos(ATOM) + 2.6% • kyber network(KNC) + 1.1% Notable losers: • stellar(XLM) – 5.1% • litecoin(LTC) – 4.4% • chainlink(LINK) – 4.3% Commodities: • Oil was down 0.82%. Price per barrel of West Texas Intermediate crude: $46.57. • Gold was in the green 0.14% and at $1,838 as of press time. Treasurys: • The 10-year U.S. Treasury bond yield fell Friday dipping to 0.890 and in the red 1.3%. • Market Wrap: Bitcoin Holding at $18K; Active Ethereum Addresses up 140% in 2020 • Market Wrap: Bitcoin Holding at $18K; Active Ethereum Addresses up 140% in 2020 \|\| Market Wrap: Bitcoin Holding at $18K; Active Ethereum Addresses up 140% in 2020: Bitcoin is struggling to make gains as an expected low-volume weekend could push price further down. Meanwhile, the increasing number of active Ethereum addresses this year is a testament to the network’s growth. • Bitcoin(BTC) trading around $18,019 as of 21:00 UTC (4 p.m. ET). Slipping 2% over the previous 24 hours. • Bitcoin’s 24-hour range: $17,593-$18,404 (CoinDesk 20) • BTC slightly above its 10-hour moving average but below the 50-hour on the hourly chart, a sideways signal for market technicians. The price of bitcoin fell to as low as $17,593 Friday, according to CoinDesk 20 data. The price has recovered somewhat, hovering around $18,000 territory, and was at $17,962 as of press time. Read More:Bitcoin Whales Buy Low, Sell High; Retail Investors Chase Rallies: Data Related:First Mover: Horrible 2020 Economy Proved Best Thing for Bitcoin “BTC looks like it lost momentum,” said Misha Alefirenko, co-founder of VelvetFormula, a digital asset liquidity provider. “If buyers are not stepping in soon, we may see a testing of the $16,400-$16,900 range over the weekend.” Friday is shaping up to be a better day in terms of volume at over $1 billion total for the eight major exchanges tracked by the CoinDesk 20 as of press time. Thursday’s figure was $965 million. However, weekends almost always have lower volume, such as last weekend’s $578 million daily average, according to CoinDesk 20 data. “It’s a fairly balanced market at the moment, with the fresh inflows from institutional money met with profit taking from some existing large players as well as increased miners’ hedging,” noted Jean-Marc Bonnefous, partner at investment firm Tellurian Capital. Read More:MicroStrategy’s Bitcoin-Driven Offering Boosted to $650M Related:Mergers Position Yearn Finance as the Amazon of DeFi The derivatives market is also a factor, according to Bonnefous. “There is a big concentration around the $16,000 strike for the BTC options expiry on 25th December, which acts as a polarizing target short term,” he said. The $16,000 strike is the third-most popular strike point in the bitcoin options market, based on data from aggregator Skew. “We are now seeing public companies like MicroStrategy using leverage to acquire a larger position in bitcoin,” said Michael Gord, chief executive officer of quant crypto firm Global Digital Assets. December doldrums may continue, but many analysts are hyped up about bitcoin’s potential in 2021. “Next year, as annual budgets reopen, I expect a huge surge in demand to enter the industry from enterprises and institutional investors,” Global Digital Asset’s Gord said. “Macro matters and, in particular, risks surrounding Brexit may rattle equity markets and result in the U.S. dollar potentially strengthening,” said Denis Vinokourov, head of research for crypto brokerage Bequant. Equity markets are down globally Friday on some macroeconomic uncertainty. • Asia’s Nikkei 225 closed in the red 0.40%,led lower by losses in SoftBank Group, which fell 4.7% in Japan on Friday. • The FTSE 100 in Europe ended the day slipping 0.80% asBrexit negotiations closed in on a key deadline, leaving investors to sell on the uncertainty. • The S&P 500 in the United States dipped 0.13% asinvestors remain unsure regarding the potential for government stimulus to help boost the economy. “But given bitcoin and broader digital assets this year in the wake of COVID-19 pandemic and U.S. elections, expect bitcoin to show a similar amount of resilience,” added Vinokourov. Ether(ETH), the second-largest cryptocurrency by market capitalization, was down Friday, trading around $548 and slipping 3.1% in 24 hours as of 21:00 UTC (4:00 p.m. ET). The number of active addresses on the Ethereum network has increased to 379,249 as of Dec. 10 from 158,039 on Jan. 1, a 140% increase. Bequant’s Vinokourov told CoinDesk this data, in addition to metrics showing the movement of Ethereum users from centralized exchanges (CeFi) to decentralized exchanges (DeFi), is a huge liquidity opportunity for token economies within that ecosystem. Read More:This One Graph Shows Ether Going From CeFi to DeFi: Glassnode “The amount of gas fees spent on ETH deposits to centralized exchanges has fallen to less than 1%, as of Dec. 9, from around 26% in late October 2017, according to Glassnode data,” Vinokourov noted. “There is plenty of liquidity in the market. As such, DeFi tokens look particularly attractive even with the recent downside.” Digital assets on theCoinDesk 20are mostly red Friday. Notable winners as of 21:00 UTC (4:00 p.m. ET): • cosmos(ATOM) + 2.6% • kyber network(KNC) + 1.1% Notable losers: • stellar(XLM) – 5.1% • litecoin(LTC) – 4.4% • chainlink(LINK) – 4.3% Commodities: • Oil was down 0.82%. Price per barrel of West Texas Intermediate crude: $46.57. • Gold was in the green 0.14% and at $1,838 as of press time. Treasurys: • The 10-year U.S. Treasury bond yield fell Friday dipping to 0.890 and in the red 1.3%. • Market Wrap: Bitcoin Holding at $18K; Active Ethereum Addresses up 140% in 2020 • Market Wrap: Bitcoin Holding at $18K; Active Ethereum Addresses up 140% in 2020 \|\| Market Wrap: Bitcoin Holding at $18K; Active Ethereum Addresses up 140% in 2020: Bitcoin is struggling to make gains as an expected low-volume weekend could push price further down. Meanwhile, the increasing number of active Ethereum addresses this year is a testament to the network’s growth. Bitcoin (BTC) trading around $18,019 as of 21:00 UTC (4 p.m. ET). Slipping 2% over the previous 24 hours. Bitcoin’s 24-hour range: $17,593-$18,404 (CoinDesk 20) BTC slightly above its 10-hour moving average but below the 50-hour on the hourly chart, a sideways signal for market technicians. The price of bitcoin fell to as low as $17,593 Friday, according to CoinDesk 20 data. The price has recovered somewhat, hovering around $18,000 territory, and was at $17,962 as of press time. Read More: Bitcoin Whales Buy Low, Sell High; Retail Investors Chase Rallies: Data Related: First Mover: Horrible 2020 Economy Proved Best Thing for Bitcoin “BTC looks like it lost momentum,” said Misha Alefirenko, co-founder of VelvetFormula, a digital asset liquidity provider. “If buyers are not stepping in soon, we may see a testing of the $16,400-$16,900 range over the weekend.” Friday is shaping up to be a better day in terms of volume at over $1 billion total for the eight major exchanges tracked by the CoinDesk 20 as of press time. Thursday’s figure was $965 million. However, weekends almost always have lower volume, such as last weekend’s $578 million daily average, according to CoinDesk 20 data. “It’s a fairly balanced market at the moment, with the fresh inflows from institutional money met with profit taking from some existing large players as well as increased miners’ hedging,” noted Jean-Marc Bonnefous, partner at investment firm Tellurian Capital. Read More: MicroStrategy’s Bitcoin-Driven Offering Boosted to $650M Related: Mergers Position Yearn Finance as the Amazon of DeFi The derivatives market is also a factor, according to Bonnefous. “There is a big concentration around the $16,000 strike for the BTC options expiry on 25th December, which acts as a polarizing target short term,” he said. The $16,000 strike is the third-most popular strike point in the bitcoin options market, based on data from aggregator Skew. Story continues “We are now seeing public companies like MicroStrategy using leverage to acquire a larger position in bitcoin,” said Michael Gord, chief executive officer of quant crypto firm Global Digital Assets. December doldrums may continue, but many analysts are hyped up about bitcoin’s potential in 2021. “Next year, as annual budgets reopen, I expect a huge surge in demand to enter the industry from enterprises and institutional investors,” Global Digital Asset’s Gord said. “Macro matters and, in particular, risks surrounding Brexit may rattle equity markets and result in the U.S. dollar potentially strengthening,” said Denis Vinokourov, head of research for crypto brokerage Bequant. Equity markets are down globally Friday on some macroeconomic uncertainty. Asia’s Nikkei 225 closed in the red 0.40%, led lower by losses in SoftBank Group, which fell 4.7% in Japan on Friday . The FTSE 100 in Europe ended the day slipping 0.80% as Brexit negotiations closed in on a key deadline, leaving investors to sell on the uncertainty . The S&P 500 in the United States dipped 0.13% as investors remain unsure regarding the potential for government stimulus to help boost the economy . “But given bitcoin and broader digital assets this year in the wake of COVID-19 pandemic and U.S. elections, expect bitcoin to show a similar amount of resilience,” added Vinokourov. Ethereum active addresses uptrend in 2020 Ether (ETH), the second-largest cryptocurrency by market capitalization, was down Friday, trading around $548 and slipping 3.1% in 24 hours as of 21:00 UTC (4:00 p.m. ET). The number of active addresses on the Ethereum network has increased to 379,249 as of Dec. 10 from 158,039 on Jan. 1, a 140% increase. Bequant’s Vinokourov told CoinDesk this data, in addition to metrics showing the movement of Ethereum users from centralized exchanges (CeFi) to decentralized exchanges (DeFi), is a huge liquidity opportunity for token economies within that ecosystem. Read More: This One Graph Shows Ether Going From CeFi to DeFi: Glassnode “The amount of gas fees spent on ETH deposits to centralized exchanges has fallen to less than 1%, as of Dec. 9, from around 26% in late October 2017, according to Glassnode data,” Vinokourov noted. “There is plenty of liquidity in the market. As such, DeFi tokens look particularly attractive even with the recent downside.” Other markets Digital assets on the CoinDesk 20 are mostly red Friday. Notable winners as of 21:00 UTC (4:00 p.m. ET): cosmos (ATOM) + 2.6% kyber network (KNC) + 1.1% Notable losers: stellar (XLM) – 5.1% litecoin (LTC) – 4.4% chainlink (LINK) – 4.3% Commodities: Oil was down 0.82%. Price per barrel of West Texas Intermediate crude: $46.57. Gold was in the green 0.14% and at $1,838 as of press time. Treasurys: The 10-year U.S. Treasury bond yield fell Friday dipping to 0.890 and in the red 1.3%. Related Stories Market Wrap: Bitcoin Holding at $18K; Active Ethereum Addresses up 140% in 2020 Market Wrap: Bitcoin Holding at $18K; Active Ethereum Addresses up 140% in 2020 \|\| Dispute Resolution Protocols Can Help Enterprise Adopt Blockchain: As we approach the end of 2020, the blockchain industry is experiencing another resurgence. Bitcoin prices are hovering around all-time highs, decentralized finance, or DeFi, is exploring new offerings seemingly every week and tech stalwarts such as PayPal are integrating crypto into their offerings. These developments are positive news as we continue our efforts to build out the infrastructure of the future. They also surface areas of design and development in which we need to conduct additional research. Stephanie Hurder, a CoinDesk columnist, is a founding economist atPrysm Group, an economic advisory focused on the implementation of emerging technologies, and an academic contributor to the World Economic Forum. She has a PhD in Business Economics from Harvard. Related:Saylor Hits Back at Claims MicroStrategy's Bitcoin Trove Makes It an ETF This week, along with partners at the World Economic Forum and Latham & Watkins LLP, we published the report “Bridging the Governance Gap: Dispute Resolution for Blockchain-Based Transactions.” While more and more projects have invested in research and development related to governance, the area of dispute resolution, particularly for on-chain transactions, has been less frequently addressed. Focusing on enterprise applications and examining examples across industries, the report details the economic and legal importance of dispute resolution and presents a framework for types of dispute resolution systems. The four types are: • Private In-Network Resolution, in which disputes are resolved by the network operator or a committee of a network • Private In-Network Resolution, in which disputes are resolved by the network operator or a committee of a network • Semi-Private Industry Fora, in which disputes are resolved by industry participants who may participate in resolving other disputes • Litigation, in which disputes are resolved in court in the applicable legal system Common to all of these models of dispute resolution is that individuals, with varying degrees of expertise, will need to be involved in adjudicating the disputes. These individuals can be members of the network itself, industry participants or participants in the legal system with jurisdiction. Related:Money Reimagined: Bitcoin's Tug of War as Wall Street Moves In The reason for this is an economic concept calledcontractual incompleteness.In any agreement or contract there are circumstances that cannot be anticipated and accounted for in the initial design. When these events take place, participants may not know what to do or they may want to renegotiate and determine a new course of action. What this means for blockchain projects is the initial protocol or project code is never going to be a complete and comprehensive specification of what should occur in every circumstance. Unanticipated events and upgrades will need to be addressedby people. As complexity increases, the impact of contractual incompleteness will only increase over time. These types of unanticipated unknowns are also what drive the need for governance. As we have seen this year in DeFi, projects that attempt entirely new endeavors frequently face hacks and unexpected events. According to Prysm Group analysis, as of June 2020 over 5% ($50 million) of the $1 billion locked in DeFi projects at the time had been compromised by hacks and other unanticipated platform exploits. Since then, as the total value locked in DeFi projects has grown almost 15 times, projects have continued to be compromised via technical and economic hacks, ranging from re-entrancy to oracle manipulation. In each of these cases, the stakeholders of projects had to work among themselves and with others to diagnose the problem, propose upgrades and re-evaluate depending on unpredictable results in ways that they did not anticipate needing to do. See also: Stephanie Hurder –The Fourth Era of Blockchain Governance While blockchain projects are technical innovations, they are also economic ones. Studies such as the World Economic Forum report can show us that ultimately, at least for now, systems will perform better with pre-specified, designated places to include human judgment. The report highlights the importance of including dispute resolution as a core element of enterprise blockchain projects. Will blockchain outgrow or evolve out of the need for governance and dispute resolution? Most likely not. As blockchain as an industry matures and design improves, projects are also growing more interdependent. Taking DeFi as an example, lending and trading products almost always rely on multiple layers of lent and borrowed existing tokens and protocols as the collateral for their own products. These interdependencies make it more difficult to anticipate all potential events that can occur and predict the trickle-down impacts of an unexpected shock to a single entity in the industry. As complexity increases, the impact of contractual incompleteness will only increase over time. Anticipating all the ways that an ecosystem of complex protocols and systems may interact – and misfire – will only be more difficult. And, at least for the foreseeable future, the only solution to alleviate this is systems such as governance and dispute resolution, which apply good old human judgment. • Dispute Resolution Protocols Can Help Enterprise Adopt Blockchain • Dispute Resolution Protocols Can Help Enterprise Adopt Blockchain \|\| Dispute Resolution Protocols Can Help Enterprise Adopt Blockchain: As we approach the end of 2020, the blockchain industry is experiencing another resurgence. Bitcoin prices are hovering around all-time highs, decentralized finance, or DeFi, is exploring new offerings seemingly every week and tech stalwarts such as PayPal are integrating crypto into their offerings. These developments are positive news as we continue our efforts to build out the infrastructure of the future. They also surface areas of design and development in which we need to conduct additional research. Stephanie Hurder, a CoinDesk columnist, is a founding economist at Prysm Group , an economic advisory focused on the implementation of emerging technologies, and an academic contributor to the World Economic Forum. She has a PhD in Business Economics from Harvard. Related: Saylor Hits Back at Claims MicroStrategy's Bitcoin Trove Makes It an ETF This week, along with partners at the World Economic Forum and Latham & Watkins LLP, we published the report Bridging the Governance Gap: Dispute Resolution for Blockchain-Based Transactions. While more and more projects have invested in research and development related to governance, the area of dispute resolution, particularly for on-chain transactions, has been less frequently addressed. Focusing on enterprise applications and examining examples across industries, the report details the economic and legal importance of dispute resolution and presents a framework for types of dispute resolution systems. The four types are: Private In-Network Resolution, in which disputes are resolved by the network operator or a committee of a network Private In-Network Resolution, in which disputes are resolved by the network operator or a committee of a network Semi-Private Industry Fora, in which disputes are resolved by industry participants who may participate in resolving other disputes Litigation, in which disputes are resolved in court in the applicable legal system Story continues Common to all of these models of dispute resolution is that individuals, with varying degrees of expertise, will need to be involved in adjudicating the disputes. These individuals can be members of the network itself, industry participants or participants in the legal system with jurisdiction. Related: Money Reimagined: Bitcoin's Tug of War as Wall Street Moves In The reason for this is an economic concept called contractual incompleteness. In any agreement or contract there are circumstances that cannot be anticipated and accounted for in the initial design. When these events take place, participants may not know what to do or they may want to renegotiate and determine a new course of action. What this means for blockchain projects is the initial protocol or project code is never going to be a complete and comprehensive specification of what should occur in every circumstance. Unanticipated events and upgrades will need to be addressed by people . As complexity increases, the impact of contractual incompleteness will only increase over time. These types of unanticipated unknowns are also what drive the need for governance. As we have seen this year in DeFi, projects that attempt entirely new endeavors frequently face hacks and unexpected events. According to Prysm Group analysis, as of June 2020 over 5% ($50 million) of the $1 billion locked in DeFi projects at the time had been compromised by hacks and other unanticipated platform exploits. Since then, as the total value locked in DeFi projects has grown almost 15 times, projects have continued to be compromised via technical and economic hacks, ranging from re-entrancy to oracle manipulation. In each of these cases, the stakeholders of projects had to work among themselves and with others to diagnose the problem, propose upgrades and re-evaluate depending on unpredictable results in ways that they did not anticipate needing to do. See also: Stephanie Hurder The Fourth Era of Blockchain Governance While blockchain projects are technical innovations, they are also economic ones. Studies such as the World Economic Forum report can show us that ultimately, at least for now, systems will perform better with pre-specified, designated places to include human judgment. The report highlights the importance of including dispute resolution as a core element of enterprise blockchain projects. Will blockchain outgrow or evolve out of the need for governance and dispute resolution? Most likely not. As blockchain as an industry matures and design improves, projects are also growing more interdependent. Taking DeFi as an example, lending and trading products almost always rely on multiple layers of lent and borrowed existing tokens and protocols as the collateral for their own products. These interdependencies make it more difficult to anticipate all potential events that can occur and predict the trickle-down impacts of an unexpected shock to a single entity in the industry. As complexity increases, the impact of contractual incompleteness will only increase over time. Anticipating all the ways that an ecosystem of complex protocols and systems may interact and misfire will only be more difficult. And, at least for the foreseeable future, the only solution to alleviate this is systems such as governance and dispute resolution, which apply good old human judgment. Related Stories Dispute Resolution Protocols Can Help Enterprise Adopt Blockchain Dispute Resolution Protocols Can Help Enterprise Adopt Blockchain \|\| Why a Massive 169-Year-Old Insurance Company Just Bought $100M in Bitcoin: MassMutual becomes the latest announced institutional buyer of bitcoin, and this one could be even more significant in terms of precedent. Formore episodesand free early access before our regular 3 p.m. Eastern time releases, subscribe withApple Podcasts,Spotify,Pocketcasts,Google Podcasts,Castbox,Stitcher,RadioPublica,iHeartRadioorRSS. This episode is sponsored byCrypto.com,Nexo.ioand this week’s special product launchLVL.co. Related:Bitcoin Still on Track to Breach $20K in Coming Weeks: Analysts Download this episode • FDA panel recommends Pfizer vaccine approval as initial jobless claims soar • Antitrust lawsuit calls for Facebook breakup • Crypto-friendly CFTC chairman to resign at the beginning of the year In this episode, NLW looks at recent news that MassMutual had purchased $100 million inbitcoinfor its general account, as well as made a $5 million minority investment in $2.3 billion asset manager NYDIG, which helped facilitate the bitcoin purchase. He discusses why insurance company purchases are different than other institutional buyers like MicroStrategy, and why this might be the beginning of a more significant industry trend. See also:MassMutual Buys $100M in Bitcoin, Bets on Institutional Adoption With $5M NYDIG Stake Formore episodesand free early access before our regular 3 p.m. Eastern time releases, subscribe withApple Podcasts,Spotify,Pocketcasts,Google Podcasts,Castbox,Stitcher,RadioPublica,iHeartRadioorRSS. • Why a Massive 169-Year-Old Insurance Company Just Bought $100M in Bitcoin • Why a Massive 169-Year-Old Insurance Company Just Bought $100M in Bitcoin • Why a Massive 169-Year-Old Insurance Company Just Bought $100M in Bitcoin \|\| Why a Massive 169-Year-Old Insurance Company Just Bought $100M in Bitcoin: MassMutual becomes the latest announced institutional buyer of bitcoin, and this one could be even more significant in terms of precedent. Formore episodesand free early access before our regular 3 p.m. Eastern time releases, subscribe withApple Podcasts,Spotify,Pocketcasts,Google Podcasts,Castbox,Stitcher,RadioPublica,iHeartRadioorRSS. This episode is sponsored byCrypto.com,Nexo.ioand this week’s special product launchLVL.co. Related:Bitcoin Still on Track to Breach $20K in Coming Weeks: Analysts Download this episode • FDA panel recommends Pfizer vaccine approval as initial jobless claims soar • Antitrust lawsuit calls for Facebook breakup • Crypto-friendly CFTC chairman to resign at the beginning of the year In this episode, NLW looks at recent news that MassMutual had purchased $100 million inbitcoinfor its general account, as well as made a $5 million minority investment in $2.3 billion asset manager NYDIG, which helped facilitate the bitcoin purchase. He discusses why insurance company purchases are different than other institutional buyers like MicroStrategy, and why this might be the beginning of a more significant industry trend. See also:MassMutual Buys $100M in Bitcoin, Bets on Institutional Adoption With $5M NYDIG Stake Formore episodesand free early access before our regular 3 p.m. Eastern time releases, subscribe withApple Podcasts,Spotify,Pocketcasts,Google Podcasts,Castbox,Stitcher,RadioPublica,iHeartRadioorRSS. • Why a Massive 169-Year-Old Insurance Company Just Bought $100M in Bitcoin • Why a Massive 169-Year-Old Insurance Company Just Bought $100M in Bitcoin • Why a Massive 169-Year-Old Insurance Company Just Bought $100M in Bitcoin \|\| Why a Massive 169-Year-Old Insurance Company Just Bought $100M in Bitcoin: MassMutual becomes the latest announced institutional buyer of bitcoin, and this one could be even more significant in terms of precedent. For more episodes and free early access before our regular 3 p.m. Eastern time releases, subscribe with Apple Podcasts , Spotify , Pocketcasts , Google Podcasts , Castbox , Stitcher , RadioPublica , iHeartRadio or RSS . This episode is sponsored by Crypto.com , Nexo.io and this week’s special product launch LVL.co . Related: Bitcoin Still on Track to Breach $20K in Coming Weeks: Analysts Download this episode Today on the Brief: FDA panel recommends Pfizer vaccine approval as initial jobless claims soar Antitrust lawsuit calls for Facebook breakup Crypto-friendly CFTC chairman to resign at the beginning of the year Our main discussion: Why MassMutual bought $100 million in bitcoin and why it matters. In this episode, NLW looks at recent news that MassMutual had purchased $100 million in bitcoin for its general account, as well as made a $5 million minority investment in $2.3 billion asset manager NYDIG, which helped facilitate the bitcoin purchase. He discusses why insurance company purchases are different than other institutional buyers like MicroStrategy, and why this might be the beginning of a more significant industry trend. See also: MassMutual Buys $100M in Bitcoin, Bets on Institutional Adoption With $5M NYDIG Stake For more episodes and free early access before our regular 3 p.m. Eastern time releases, subscribe with Apple Podcasts , Spotify , Pocketcasts , Google Podcasts , Castbox , Stitcher , RadioPublica , iHeartRadio or RSS . Related Stories Why a Massive 169-Year-Old Insurance Company Just Bought $100M in Bitcoin Why a Massive 169-Year-Old Insurance Company Just Bought $100M in Bitcoin Why a Massive 169-Year-Old Insurance Company Just Bought $100M in Bitcoin \|\| What Is XRP, and How Is It Related to Ripple?: XRP is a digital currency which is issued and partly managed byRipple Inc.a payment solutions company that also manages the RippleNet cross-border payment network. Ripple began selling XRP in 2012, though the company has turned its attention away from the digital currency and toward its cross-border payment network in recent years. UnlikeBitcoinorEthereum, Ripple does not refer to a blockchain network with a native cryptocurrency asset. In fact, Ripple, the company, has a history of reframing how XRP fits into its business model, first embracing it as the fuel that powers its cross-border payments technology, then setting it to the side as it focused on xCurrent, xRapid and xVia – still other payment networks for cheaper and faster international payments. Related:Coinbase to Support Spark Token Airdrop to XRP Holders In late 2019, xCurrent, xRapid and xVia were rebranded to RippleNet, a payment network focussed on quick, cross-border transfers between financial institutions. In addition to RippleNet, Ripple also oversees the XRP Ledger, a blockchain-like network that facilitates payments in XRP, the digital currency issued by Ripple. Like other cryptocurrencies, XRP can be sent to and from a digital wallet irrespective of international borders. When it was launched in 2012, Ripple marketed XRP as a faster, cheaper alternative to bitcoin because transactions settle in seconds; XRP’s network can achieve this speed because its infrastructure is centralized and it does not utilize proof of work, the consensus algorithm used by Bitcoin to process transactions. A committee of validators acts both like miners and full node operators for XRP by maintaining the transaction ledger. These validators reach consensus every 3-5 seconds when they publish a new version of the transaction ledger with the latest transactions. While anyone can run the code to be an XRP validator, that doesn’t mean any validator will be trusted by the others in the network. To earn this tust, they have to make Ripple’s unique node list (UNL) , a registry of trusted validators curated by Ripple. Related:What Is a CBDC? There are currently 35 active XRP validators, six of which are run by Ripple itself. Ripple also offers a software suite called RippleX for developers and businesses who are building on XRP. The platform includes tools and programs to interact with the XRP Ledger andPayIDandInterledger, two protocols that are developed independently of XRP. Ripple’s enterprise-facing network, RippleNet, does not require XRP to function. According toRipple’s website, banks from Santander to PNC have used RippleNet’s banking-focused “blockchain” to settle remittance payments and swap currencies. The company claims to have settled nearly half a billion worth of transactions and serves 6 continents. The service supports more than 55 countries and 120 currency pairs. RippleNet’s On-Demand Liquidity service is the only network feature that uses XRP, and this service is available in Australia, the Euro Zone, the United States, Mexico and the Philippines. Unlike bitcoin, XRP coins are not mined. Ripple minted the entire supply when the network was launched, and Ripple intermittently releases portions of the supply from an escrow and sells them on the open market. Out of the total 100,000,000,000 supply of XRP, over 45 billion is currently in circulation. XRP’s design sacrifices decentralization for speed. Because Ripple scrapped Bitcoin’s proof-of-work consensus mechanism, the network is arguably less secure, but it can also process transactions more quickly than Bitcoin because the UNL of validators is so centralized, so they can agree on consensus and share data quickly. [["Proof-of-work", "XRP Ledger Consensus Protoco"], ["Hard cap of 21 million units, gradually mined", "Fixed supply of 100 billion units, minted in advance of network launch"], ["Miners order transactions into blocks to maintain transaction ledger, node operators keep copies of the digital ledger", "Validators both maintain transaction ledger and keep a record of transactions; only UNL approved validators are trusted by the network"], ["Permissionless node network", "Permissioned node network (UNL list)"], ["Not controlled by a central authority", "Overseen by a private company"]] XRP can facilitate faster transactions because there is no mining involved in the transaction process. Instead of miners competing for block rewards and ordering transactions into the ledger during this process, validators verify transactions without promise of reward. These validators are vetted and trusted by Ripple, and this trust is necessary to XRP’s design to prevent double spending (additionally, this trust model is not unlike how credit cards or other digital payment networks operate today). Ultimately, XRP’s centralization makes it less censorship-resistant and permissionless than other, open-source blockchains like Bitcoin and Ethereum. Anyone can run a Bitcoin node and partake in network consensus, but only UNL nodes that are approved by Ripple can partake in XRP’s consensus. Similarly, XRP validators could, in theory, easily collude to censor a transaction, while Bitcoin’s proof-of-work system makes it impractical for miners to collude to censor transactions. Perhaps the difference between XRP and Bitcoin is best summed up as the difference between a company and an economy. XRP’s supply is issued by a company at a rate determined by its executives, and transactions are processed by a committee of pre-approved stakeholders. Bitcoin’s supply is issued through the mining process at a mathematically predetermined rate, and transactions are processed by the global, decentralized mining industry. Hoa Nguyen contributed to this article. This article has been updated to reflect that Ripple’s On-Demand Liquidity service is also available in the Euro Zone and the United States, in addition to Australia, Mexico and the Philippines. • What Is XRP, and How Is It Related to Ripple? • What Is XRP, and How Is It Related to Ripple? \|\| What Is XRP, and How Is It Related to Ripple?: XRP is a digital currency which is issued and partly managed by Ripple Inc. a payment solutions company that also manages the RippleNet cross-border payment network. Ripple began selling XRP in 2012, though the company has turned its attention away from the digital currency and toward its cross-border payment network in recent years. How does Ripple work? Unlike Bitcoin or Ethereum , Ripple does not refer to a blockchain network with a native cryptocurrency asset. In fact, Ripple, the company, has a history of reframing how XRP fits into its business model, first embracing it as the fuel that powers its cross-border payments technology, then setting it to the side as it focused on xCurrent, xRapid and xVia still other payment networks for cheaper and faster international payments. Related: Coinbase to Support Spark Token Airdrop to XRP Holders In late 2019, xCurrent, xRapid and xVia were rebranded to RippleNet, a payment network focussed on quick, cross-border transfers between financial institutions. In addition to RippleNet, Ripple also oversees the XRP Ledger, a blockchain-like network that facilitates payments in XRP, the digital currency issued by Ripple. Like other cryptocurrencies, XRP can be sent to and from a digital wallet irrespective of international borders. When it was launched in 2012, Ripple marketed XRP as a faster, cheaper alternative to bitcoin because transactions settle in seconds; XRPs network can achieve this speed because its infrastructure is centralized and it does not utilize proof of work, the consensus algorithm used by Bitcoin to process transactions. What is Ripples UNL, and how is XRP different from Bitcoin? A committee of validators acts both like miners and full node operators for XRP by maintaining the transaction ledger. These validators reach consensus every 3-5 seconds when they publish a new version of the transaction ledger with the latest transactions. While anyone can run the code to be an XRP validator, that doesnt mean any validator will be trusted by the others in the network. To earn this tust, they have to make Ripples unique node list (UNL) , a registry of trusted validators curated by Ripple. Story continues Related: What Is a CBDC? There are currently 35 active XRP validators, six of which are run by Ripple itself. Ripple also offers a software suite called RippleX for developers and businesses who are building on XRP. The platform includes tools and programs to interact with the XRP Ledger and PayID and Interledger , two protocols that are developed independently of XRP. The difference between RippleNet and XRP Ripples enterprise-facing network, RippleNet, does not require XRP to function. According to Ripples website , banks from Santander to PNC have used RippleNets banking-focused blockchain to settle remittance payments and swap currencies. The company claims to have settled nearly half a billion worth of transactions and serves 6 continents. The service supports more than 55 countries and 120 currency pairs. RippleNets On-Demand Liquidity service is the only network feature that uses XRP, and this service is available in Australia, the Euro Zone, the United States, Mexico and the Philippines. Bitcoin vs. XRP Unlike bitcoin, XRP coins are not mined. Ripple minted the entire supply when the network was launched, and Ripple intermittently releases portions of the supply from an escrow and sells them on the open market. Out of the total 100,000,000,000 supply of XRP, over 45 billion is currently in circulation. XRPs design sacrifices decentralization for speed. Because Ripple scrapped Bitcoins proof-of-work consensus mechanism, the network is arguably less secure, but it can also process transactions more quickly than Bitcoin because the UNL of validators is so centralized, so they can agree on consensus and share data quickly. Bitcoin XRP Proof-of-work XRP Ledger Consensus Protoco Hard cap of 21 million units, gradually mined Fixed supply of 100 billion units, minted in advance of network launch Miners order transactions into blocks to maintain transaction ledger, node operators keep copies of the digital ledger Validators both maintain transaction ledger and keep a record of transactions; only UNL approved validators are trusted by the network Permissionless node network Permissioned node network (UNL list) Not controlled by a central authority Overseen by a private company XRP can facilitate faster transactions because there is no mining involved in the transaction process. Instead of miners competing for block rewards and ordering transactions into the ledger during this process, validators verify transactions without promise of reward. These validators are vetted and trusted by Ripple, and this trust is necessary to XRPs design to prevent double spending (additionally, this trust model is not unlike how credit cards or other digital payment networks operate today). Ultimately, XRPs centralization makes it less censorship-resistant and permissionless than other, open-source blockchains like Bitcoin and Ethereum. Anyone can run a Bitcoin node and partake in network consensus, but only UNL nodes that are approved by Ripple can partake in XRPs consensus. Similarly, XRP validators could, in theory, easily collude to censor a transaction, while Bitcoins proof-of-work system makes it impractical for miners to collude to censor transactions. Perhaps the difference between XRP and Bitcoin is best summed up as the difference between a company and an economy. XRPs supply is issued by a company at a rate determined by its executives, and transactions are processed by a committee of pre-approved stakeholders. Bitcoins supply is issued through the mining process at a mathematically predetermined rate, and transactions are processed by the global, decentralized mining industry. Hoa Nguyen contributed to this article . This article has been updated to reflect that Ripples On-Demand Liquidity service is also available in the Euro Zone and the United States, in addition to Australia, Mexico and the Philippines. Related Stories What Is XRP, and How Is It Related to Ripple? What Is XRP, and How Is It Related to Ripple? \|\| Privacy Coin Advocates Persevere Amid Multiple Crypto Exchange Delistings: On Dec. 8, Dutch cryptocurrency exchange LiteBit sent an email to its users stating it would be delisting the privacy coin firo (formerly zcoin). According to the email, the decision was made “partly due to the privacy aspect of this crypto. The regulator of crypto companies in the Netherlands has indicated that cryptocurrencies aimed at privacy are too high a risk.” LiteBit confirmed zcoin will be delisted on Dec. 22. Related: Bitcoin Exchanges Flood London's Metro With Adverts This news comes a few months after Shapeshift delisted monero , zcash and dash . South Korea-based exchange Bithumb also dropped monero in June, continuing a trend of delisting privacy coins by cryptocurrency exchanges that seems unlikely to stop anytime soon. “At the moment, the impact is primarily limited to smaller or regional exchanges” said Firo project steward Reuben Yap. “However, it signals to the rest of the space that delisting is the only way to remain compliant with AML/KYC [know your customer/anti-money laundering], which isn’t the case at all, setting a bad precedent.” Delisting around the world Yap said delistings have become a worldwide trend, especially in Asian countries such as South Korea and Japan . Europe, where privacy regulations like the General Data Protection Regulation (GDPR) would seem more open to privacy-focused coins, has seen France’s finance committee recommending bans on privacy coins . Recently, new Dutch AML regulations have created perceived barriers for privacy coins, focusing on knowing who are all parties in a cryptocurrency transaction. Monero has already been delisted in the Netherlands. In Australia, cryptocurrency exchanges are delisting privacy coins amid regulatory and banking pressure . The blockchain analysis firm Chainalysis is believed to have played a large part in the decisions made by Australia and others. Related: India's Banks Are Once More Serving Crypto Traders and Exchanges Story continues The U.S. Secret Service has urged Congress to create ways to limit the use of privacy-focused cryptocurrencies . “Delisting is one of the easiest responses for small, compliant cryptocurrency exchanges,” said Justin Ehrenhofer, a Monero contributor. “They may not have the resources to properly communicate their risk mitigation strategies to regulators and banks.” In most cases, banks, exchanges and other entities find it simpler to completely write off products related to specific coins rather than expend resources creating detailed compliance programs, according to Ehrenhofer. Why cryptocurrency exchanges delist privacy coins The core reasons behind these delistings are the privacy features that are important to many cryptocurrency users. Bitcoin’s cypherpunk origins were in part about escaping the ties of the financial system and the surveillance and scrutiny it enables. But regulators have seen those features as conflicting with AML and KYC regulations. “Many countries’ official reasoning is that these bans and delistings would help combat money laundering and illicit use of cryptocurrencies. However, this seems more like a facade,” said Yap. Japan’s delisting of privacy coins was triggered by the Coincheck hack of nem , which does not have any privacy features, according to Yap. The hack was a result of weak exchange security , not privacy coins, and privacy coins weren’t used to launder the proceeds . “As in many cases, it seems that privacy coins were once again the scapegoat,” said Yap. Read more: ShapeShift Delists Privacy Coin Zcash Over Regulatory Concerns Australian exchanges like Swyftx apparently didn’t agree with the ban , but the reasoning behind it hasn’t been widely disseminated. Korean exchanges cited Financial Action Task Force regulations as the reason to delist privacy coins despite privacy coins posing no issues with the FATF . Bolstering Yap’s arguments is the fact that U.S. law firm Perkins Coie released a report on how privacy coins can be compliant with existing AML regulations . “Is it possible for regulated entities to comply with anti-money laundering (AML) obligations when supporting privacy coins? The answer, in our view, is yes,” wrote the authors. Ehrenhofer said the most common given reason for delistings is de-risking from perceived (or direct) pressure from regulators and banks. “Most jurisdictions do not impose strict bans on these privacy-preserving cryptocurrencies, but they may require more detailed AML programs before feeling comfortable with them,” he said. The impact on privacy coins The delistings raise issues for privacy coins and signal to other actors in the ecosystem that it’s okay to delist them, even if there are no compliance issues. This has far-reaching effects. Exchanges and other actors have delisted and could continue to do so under soft pressure not just from authorities but also their banking partners, even if they’re not breaking any laws. Yap points to zcash’s delisting from Coinbase UK due to concerns from its banking partner, ClearBank, as one example of this, setting a problematic precedent if other banks follow suit. Additionally, said Ehrenhofer, delisting of small assets deeply impacts the viability of those assets, lowering their liquidity to a critical level. On the other hand, for established privacy coins like monero it just pushes users “to exchange in riskier, less-compliant jurisdictions.” As a result, “the information that would normally be within the view of regulators and compliant exchanges is now distributed among less-regulated exchanges in other jurisdictions, harming investigations,” he said. And then there’s the inclusion of dash among those delisted coins. Originally conceived as “Darkcoin,” a fork of Bitcoin, Dash abandoned its focus on privacy years ago to concentrate on other use cases for its dash cryptocurrency. In a statement shared with CoinDesk, Glenn Austin, Dash Core Group CFO, speculated that dash’s delisting may have been the result of a misperception, based on old assumptions derived from its Darkcoin roots. “Multiple leading industry experts conclude that dash is no more a privacy coin than bitcoin ,” he said. Indeed, as the Bitcoin and Ethereum blockchains develop more privacy features, exchanges will have to grapple with the necessary compliance processes they may have sought to avoid by delisting privacy coins. Read more: Bitcoin’s Future: Exactly How a Coming Upgrade Could Improve Privacy and Scaling But in the interim, said Yap, we may continue to see some coins remove their privacy features as they seek the basic goal of survival. Looking ahead “For some projects, the best approach may be to produce quality opinions and presentations that demonstrate how privacy coins can be supported while addressing AML/KYC concerns instead of fighting regulations,” said Yap. He said another approach should be fighting the narrative of blockchain analytics firms, which promote the idea that on-chain analysis is the only way to grapple with AML/KYC concerns. For Ehrenhofer, privacy-preserving cryptocurrency communities should work with compliance professionals to ensure they feel comfortable with the compliance programs they present to banks and regulators. If a cryptocurrency exchange’s survival doesn’t depend on it, it’s unlikely it will put in the compliance effort needed to support any coin that comes close to being in conflict with AML and KY considerations. He points to ComplyFirst as a company that has created resources to assist exchanges in explaining how they can support assets that may result in more complex compliance cases. “Privacy coins will continue to face opposition and challenges along the way, which will heat up as cryptocurrencies start becoming more mainstream,” said Yap. “However, just as VPNs, Tor, HTTPS, and end-to-end encrypted messaging are now considered standard protection tools, privacy technology in cryptocurrencies will be considered commonplace, too.” Related Stories Privacy Coin Advocates Persevere Amid Multiple Crypto Exchange Delistings Privacy Coin Advocates Persevere Amid Multiple Crypto Exchange Delistings \|\| Privacy Coin Advocates Persevere Amid Multiple Crypto Exchange Delistings: On Dec. 8, Dutch cryptocurrency exchange LiteBit sent an email to its users stating it would be delisting the privacy coin firo (formerly zcoin). According to the email, the decision was made “partly due to the privacy aspect of this crypto. The regulator of crypto companies in the Netherlands has indicated that cryptocurrencies aimed at privacy are too high a risk.” LiteBit confirmed zcoin will be delisted on Dec. 22. Related: Bitcoin Exchanges Flood London's Metro With Adverts This news comes a few months after Shapeshift delisted monero , zcash and dash . South Korea-based exchange Bithumb also dropped monero in June, continuing a trend of delisting privacy coins by cryptocurrency exchanges that seems unlikely to stop anytime soon. “At the moment, the impact is primarily limited to smaller or regional exchanges” said Firo project steward Reuben Yap. “However, it signals to the rest of the space that delisting is the only way to remain compliant with AML/KYC [know your customer/anti-money laundering], which isn’t the case at all, setting a bad precedent.” Delisting around the world Yap said delistings have become a worldwide trend, especially in Asian countries such as South Korea and Japan . Europe, where privacy regulations like the General Data Protection Regulation (GDPR) would seem more open to privacy-focused coins, has seen France’s finance committee recommending bans on privacy coins . Recently, new Dutch AML regulations have created perceived barriers for privacy coins, focusing on knowing who are all parties in a cryptocurrency transaction. Monero has already been delisted in the Netherlands. In Australia, cryptocurrency exchanges are delisting privacy coins amid regulatory and banking pressure . The blockchain analysis firm Chainalysis is believed to have played a large part in the decisions made by Australia and others. Related: India's Banks Are Once More Serving Crypto Traders and Exchanges Story continues The U.S. Secret Service has urged Congress to create ways to limit the use of privacy-focused cryptocurrencies . “Delisting is one of the easiest responses for small, compliant cryptocurrency exchanges,” said Justin Ehrenhofer, a Monero contributor. “They may not have the resources to properly communicate their risk mitigation strategies to regulators and banks.” In most cases, banks, exchanges and other entities find it simpler to completely write off products related to specific coins rather than expend resources creating detailed compliance programs, according to Ehrenhofer. Why cryptocurrency exchanges delist privacy coins The core reasons behind these delistings are the privacy features that are important to many cryptocurrency users. Bitcoin’s cypherpunk origins were in part about escaping the ties of the financial system and the surveillance and scrutiny it enables. But regulators have seen those features as conflicting with AML and KYC regulations. “Many countries’ official reasoning is that these bans and delistings would help combat money laundering and illicit use of cryptocurrencies. However, this seems more like a facade,” said Yap. Japan’s delisting of privacy coins was triggered by the Coincheck hack of nem , which does not have any privacy features, according to Yap. The hack was a result of weak exchange security , not privacy coins, and privacy coins weren’t used to launder the proceeds . “As in many cases, it seems that privacy coins were once again the scapegoat,” said Yap. Read more: ShapeShift Delists Privacy Coin Zcash Over Regulatory Concerns Australian exchanges like Swyftx apparently didn’t agree with the ban , but the reasoning behind it hasn’t been widely disseminated. Korean exchanges cited Financial Action Task Force regulations as the reason to delist privacy coins despite privacy coins posing no issues with the FATF . Bolstering Yap’s arguments is the fact that U.S. law firm Perkins Coie released a report on how privacy coins can be compliant with existing AML regulations . “Is it possible for regulated entities to comply with anti-money laundering (AML) obligations when supporting privacy coins? The answer, in our view, is yes,” wrote the authors. Ehrenhofer said the most common given reason for delistings is de-risking from perceived (or direct) pressure from regulators and banks. “Most jurisdictions do not impose strict bans on these privacy-preserving cryptocurrencies, but they may require more detailed AML programs before feeling comfortable with them,” he said. The impact on privacy coins The delistings raise issues for privacy coins and signal to other actors in the ecosystem that it’s okay to delist them, even if there are no compliance issues. This has far-reaching effects. Exchanges and other actors have delisted and could continue to do so under soft pressure not just from authorities but also their banking partners, even if they’re not breaking any laws. Yap points to zcash’s delisting from Coinbase UK due to concerns from its banking partner, ClearBank, as one example of this, setting a problematic precedent if other banks follow suit. Additionally, said Ehrenhofer, delisting of small assets deeply impacts the viability of those assets, lowering their liquidity to a critical level. On the other hand, for established privacy coins like monero it just pushes users “to exchange in riskier, less-compliant jurisdictions.” As a result, “the information that would normally be within the view of regulators and compliant exchanges is now distributed among less-regulated exchanges in other jurisdictions, harming investigations,” he said. And then there’s the inclusion of dash among those delisted coins. Originally conceived as “Darkcoin,” a fork of Bitcoin, Dash abandoned its focus on privacy years ago to concentrate on other use cases for its dash cryptocurrency. In a statement shared with CoinDesk, Glenn Austin, Dash Core Group CFO, speculated that dash’s delisting may have been the result of a misperception, based on old assumptions derived from its Darkcoin roots. “Multiple leading industry experts conclude that dash is no more a privacy coin than bitcoin ,” he said. Indeed, as the Bitcoin and Ethereum blockchains develop more privacy features, exchanges will have to grapple with the necessary compliance processes they may have sought to avoid by delisting privacy coins. Read more: Bitcoin’s Future: Exactly How a Coming Upgrade Could Improve Privacy and Scaling But in the interim, said Yap, we may continue to see some coins remove their privacy features as they seek the basic goal of survival. Looking ahead “For some projects, the best approach may be to produce quality opinions and presentations that demonstrate how privacy coins can be supported while addressing AML/KYC concerns instead of fighting regulations,” said Yap. He said another approach should be fighting the narrative of blockchain analytics firms, which promote the idea that on-chain analysis is the only way to grapple with AML/KYC concerns. For Ehrenhofer, privacy-preserving cryptocurrency communities should work with compliance professionals to ensure they feel comfortable with the compliance programs they present to banks and regulators. If a cryptocurrency exchange’s survival doesn’t depend on it, it’s unlikely it will put in the compliance effort needed to support any coin that comes close to being in conflict with AML and KY considerations. He points to ComplyFirst as a company that has created resources to assist exchanges in explaining how they can support assets that may result in more complex compliance cases. “Privacy coins will continue to face opposition and challenges along the way, which will heat up as cryptocurrencies start becoming more mainstream,” said Yap. “However, just as VPNs, Tor, HTTPS, and end-to-end encrypted messaging are now considered standard protection tools, privacy technology in cryptocurrencies will be considered commonplace, too.” Related Stories Privacy Coin Advocates Persevere Amid Multiple Crypto Exchange Delistings Privacy Coin Advocates Persevere Amid Multiple Crypto Exchange Delistings \|\| MicroStrategy’s Bitcoin-Driven Offering Boosted to $650M After Notes Buyer Bought $100M More: MicroStrategy announced Friday it raised $650 million, up from a recently boosted $550 million, in a convertible senior note sale designed to allow the business intelligence company to buy more bitcoin. The company estimates $634.9 million of that sum – the net proceeds – will be available forbitcoinallocations in accordance with its treasury reserve policy.The amount of the offering was boosted to $650 million from the $550 million announced on Wednesday after the purchaser of the notes exercised in full an option to buy up to an added $100 million of the convertible senior notes. This story will be updated. • MicroStrategy’s Bitcoin-Driven Offering Boosted to $650M After Notes Buyer Bought $100M More • MicroStrategy’s Bitcoin-Driven Offering Boosted to $650M After Notes Buyer Bought $100M More • MicroStrategy’s Bitcoin-Driven Offering Boosted to $650M After Notes Buyer Bought $100M More • MicroStrategy’s Bitcoin-Driven Offering Boosted to $650M After Notes Buyer Bought $100M More \|\| MicroStrategy’s Bitcoin-Driven Offering Boosted to $650M After Notes Buyer Bought $100M More: MicroStrategy announced Friday it raised $650 million, up from a recently boosted $550 million, in a convertible senior note sale designed to allow the business intelligence company to buy more bitcoin. The company estimates $634.9 million of that sum – the net proceeds – will be available for bitcoin allocations in accordance with its treasury reserve policy. The amount of the offering was boosted to $650 million from the $550 million announced on Wednesday after the purchaser of the notes exercised in full an option to buy up to an added $100 million of the convertible senior notes. This story will be updated . Related Stories MicroStrategy’s Bitcoin-Driven Offering Boosted to $650M After Notes Buyer Bought $100M More MicroStrategy’s Bitcoin-Driven Offering Boosted to $650M After Notes Buyer Bought $100M More MicroStrategy’s Bitcoin-Driven Offering Boosted to $650M After Notes Buyer Bought $100M More MicroStrategy’s Bitcoin-Driven Offering Boosted to $650M After Notes Buyer Bought $100M More \|\| MicroStrategy’s Bitcoin-Driven Offering Boosted to $650M After Notes Buyer Bought $100M More: MicroStrategy announced Friday it raised $650 million, up from a recently boosted $550 million, in a convertible senior note sale designed to allow the business intelligence company to buy more bitcoin. The company estimates $634.9 million of that sum – the net proceeds – will be available forbitcoinallocations in accordance with its treasury reserve policy.The amount of the offering was boosted to $650 million from the $550 million announced on Wednesday after the purchaser of the notes exercised in full an option to buy up to an added $100 million of the convertible senior notes. This story will be updated. • MicroStrategy’s Bitcoin-Driven Offering Boosted to $650M After Notes Buyer Bought $100M More • MicroStrategy’s Bitcoin-Driven Offering Boosted to $650M After Notes Buyer Bought $100M More • MicroStrategy’s Bitcoin-Driven Offering Boosted to $650M After Notes Buyer Bought $100M More • MicroStrategy’s Bitcoin-Driven Offering Boosted to $650M After Notes Buyer Bought $100M More \|\| Money Reimagined: Bitcoin’s Tug of War as Wall Street Moves In: A tug of war over Bitcoin’s future is becoming more ferocious. This battle, pitting corporate interests seeking to profit from the Bitcoin system’s disruptive potential against an anti-corporatist dream for a human-first financial system that bypasses institutional middlemen, has been in play for some time. But withbitcoin’slatest price rally, the fight has intensified. Now, Wall Street’s heavyweights are moving in. And to many who hail from Bitcoin’s “cypherpunk” roots, those guys are the enemy. Related:Crypto Long & Short: Bitcoin's Relationship With Gold Is More Complicated Than It Looks The engagement ofFidelity,Citibank,BlackRockand nowMassMutualneed not be the death knell for a humanist Bitcoin dream. There’s still a pathway to a fairer, more open, inclusive financial model, even with those institutions increasingly investing in and engaging with bitcoin services. But the route to that idealized future is less direct and, inevitably, involves more intense competition. It’s also not clear whether these competing visions can coexist in the long run. Either way, in the medium term – which may last decades – the tensions will persist and intensify. Who ultimately wins, and how, is what matters. To be clear, many long-term enthusiasts for bitcoin are cheering the arrival of these big names. Partly that’s because their participation has boosted the cryptocurrency’s price, which keeps bitcoin HODLers happy. It’s also because these newcomers are finally comprehending the core value proposition for investing in bitcoin as a digitally scarce store of value. That offers vindication for all who’ve been telling this story for the better part of a decade. Related:Saylor Hits Back at Claims MicroStrategy's Bitcoin Trove Makes It an ETF But there’s still an inherent conflict between the interests of regulated, compliance-conscious institutions, which will support the imposition of regulations and controls to ease their own participation in it, and those that see such rules and constraints as exclusionary barriers to entry for a wider swath of humanity. A lightning rod here is KYC and AML, the “know-your-customer” and “anti-money laundering” rules that compel banks to collect identifying records for all their account holders. This system means everywhere that Bitcoin touches the legacy financial system, which it will increasingly do as more big name companies and financial institutions are drawn to it, there is growing pressure for crypto service providers to impose KYC and, in turn to avoid dealing with others who don’t. (See: thecrypto “Travel Rule.”). The problem is not only that KYC runs counter to the cypherpunk ethos of privacy. As we discussed ina recent Money Reimagined podcast, this requirement can seriously hurt the goals of financial inclusion and innovation. Raoul Pal, CEO of RealVision and influential global macro investor, found himself in the middle of this fight recently after hetweetedto bitcoiners that KYC is in their interest because it will bring institutional money into the asset and boost its value. As someone with an account bearing the name SexyWebCamPro100x noted in one of more than 700 replies to that remark, the tweet begged fora meme of someone kicking a hornet’s nest. Pal is an influential thinker about Bitcoin’s place in the future financial system. So we invited him onto this week’s “Money Reimagined” podcast to discuss his brawl with Crypto Twitter. For balance, we also invited CoinDesk columnist Jill Carlson, who, among other roles, is a founder of the Open Money Initiative, which focuses on boosting financial access and economic freedom for underserved communities. Pal offered a nuanced explanation of his position. He said while his point was partly about allowing both bitcoin HODLers and institutions to “get rich,” it was also that for the Bitcoin system to be a transformative force it needs the “network effect” of more money coming into the space, which in turn requires institution-friendly regulation. “For people to realize their ambitions that it’s a stateless money … for it to be adopted by people who live within the confines of a sovereign state, unfortunately it will have to be regulated and there’s almost nothing we can do about it,” Pal said. Some might see a contradiction: for Bitcoin to realize its power as a “stateless” network, the state must exercise more control over it. But Pal’s point is about sequencing. He says we need to first go through a process of official accommodation within the existing system to advance Bitcoin’s journey along“Metcalfe’s Law.”Once it becomes a ubiquitous network, then it is in a position to properly challenge that system. Indeed, as Carlson pointed out, the positive thing, for those who believe in Bitcoin’s disruptive potential, is that “you’re not going to implement KYC and AML at the protocol level.” Since “there is nothing inherent to Bitcoin that can be regulated, enforced or controlled in that way,“ it can at that level always resist official coercion. But she also worried that the ever-growing encroachment of compliance requirements on applications builton topof that protocol impedes access to it among marginalized and financially excluded people. Carlson cited how LocalBitcoins, a peer-to-peer exchange network that was once a “gateway to economic freedom” in places that impose capital controls and other forms of monetary repression, has “increasingly come under scrutiny and has to institute more and more KYC and AML standards and protocols.” She added, “That’s problematic where we are talking about people who don’t have any identity or are unbanked and are refugees and so forth.” So, where does this go? Following Pal’s trajectory, we must first see expanded ownership of bitcoin as an asset, during which its price will drive dramatically higher before eventually reaching stability. Only then can it accommodate a broader set of use cases. One idea is that universal acceptance will then provide network effect benefits to “layer 2” solutions such asLightning, which could enable lightweight, low-cost transactions for all. Another is that universal bitcoin acceptance as a store-of-value lets it evolve into a programmable social reserve asset, which then becomes a form of smart, automatically executable collateral upon which innovative new forms of borrowing, lending and insurance are built. In theory, it could replace fiat sovereign assets such as U.S. Treasury notes and bonds as the building block for a global financial system, one that would presumably be more decentralized, with less friction and cost, more innovation and greater accessibility. But does that mean those seeking positive, humanistic change must just wait their turn? Must they first let Wall Street have its fill? And what guarantee is there that just because it becomes an institutionalized asset it also becomes a tool for payments and financial access? It’s hard to say. As Pal noted in our podcast interview, “The reality is that what we want [Bitcoin] to be, as individuals, is irrelevant. It’s a network that lives and breathes and does its thing.” All that’s true. But individuals also have the capacity to organize and, for better or worse, the capacity to lobby governments to introduce rules that influence the evolution of these networked systems. Which is why this tug of war must continue. LET’S BE FRANC.The Swiss National Bank’s straightlaced central bankers run a predictable, transparent and generally respected monetary policy. So they might chafe at a comparison to China’s policymakers, who oversee a rather opaque, government-mandated system of capital controls and centralized interest rates. But according tothis Bloomberg article, it looks as if Switzerland could earn the same “currency manipulator” label that the U.S. Treasury Department put on China in a politically charged move last year. In theory, the U.S. could consider sanctions if a country is deemed to be using its currency for unfair trade advantages. Switzerland has been actively intervening to hold down the value of the Swiss franc since 2011, when the euro crisis prompted huge inflows of safe haven-seeking money into the country’s economy. The U.S. would be more within its rights to call Switzerland a currency manipulator than it was with China. (The Treasury Dept. removed the designation fromChina earlier this year.) Switzerland is explicitly using its money-printing powers to alter the value of its currency with the goal of making its businesses more competitive. China used to do the same thing a decade ago. But at the time of the Treasury designation it was going the other way: intervening to strengthen the yuan against the dollar. Still, you can hardly blame Switzerland from trying to inculcate its relatively small economy from forces outside of its control in the much larger currency zone across its borders. The U.S. may well be sympathetic to that argument, and would refrain from applying sanctions. But, as the article points out, the risk to the Swiss National Bank is that currency speculators would see the designation as an excuse to test the central bank’s resolve. Might this lead to an even bigger influx of traders looking to push the Swiss franc higher on the bet that a now politically anxious SNB will hesitate to buy euros or dollars to stop the franc from appreciating? Maybe. But there’s a bigger picture problem here, one that plays into our future of money thesis. The SNB’s problems in managing a currency speaks to a wider set of risks where investors are growing nervous about expansionary monetary policy and growing fiscal debts within the worst global economic environment since the Great Depression. Switzerland’s experience offers lessons, where letter-of-the-law U.S. policymaking could provoke unforeseen consequences in currency markets. Were this to play out on a more global scale, with bigger and more numerous economies involved, we could have ourselves an international currency war. And in that environment, the only safe place to go is into an apolitical, independent store of value. Historically, that role has belonged to gold. Now, many are arguing, it’s bitcoin’s turn. AIRBNBUBBLE.Speaking of lessons, what can we learn from the remarkable turnaround at Airbnb? The home rental business looked doomed as travel ground to a halt in March when the reality of the COVID-19 pandemic set in. Yet, here it is, nine months later, launching an initial public offering that initially valued the company at $47 billion but saw it rise to $100 billion by the end of its first day of trading on Thursday. Duringa live CNN interviewthat was timed for the opening of the stock market, CEO Brian Chesky heard for the first time that the shares’ opening price was $139, almost twice the deal’s $68 level. He looked stunned. “I don’t know what to say,” he said. Good answer. Because it doesn’t make a lot of rational sense in terms of valuation. (Airbnb’s net loss for the first nine months of the year was $697 million.) To me, this tells us two things: 1) “QE infinity” by the Federal Reserve has created so much liquidity in the hands of hedge funds and other institutions that they’ll chase whatever yield they can, and 2) they’ll deploy that cash whenever they find the right narrative. It’s kind of a moot point whether Airbnb is truly worth the $100.7 billion market capitalization at which it closed the day. (AsThe Wall Street Journal noted,that’s a figure “greater than the combined market value of Marriott International Inc., Hilton Worldwide Holdings Inc. and Hyatt Hotels Corp.”) What matters is that cash-flush investors found what they were looking for: a good story. Chesky took some smart moves to, first, mitigate the pandemic’s threat to its business and then, second, discover new opportunities to provide services to people looking to escape crowded, locked-down cities. But what matters is how that story of recovery from a bad situation, a storylaid out in this WSJ video, plays out as an idea more than whether it equates to real projected value over time. As we’ve noted, elsewhere, stories matter. They especially matter when there’s lots of unspent money looking for a good one. How FinCEN Became a Honeypot for Sensitive Personal Data. CoinDesk’s Benjamin Powers goes digging, with experts, lawyers and, repeatedly, with FinCEN itself to find out how the powerful financial crimes enforcement network manages storage of the reams of “suspicious activity reports” it receives from banks. No one was able to give a straight answer. FinCEN, as Ben puts it, has become a honeypot of super-sensitive data. SEC Commissioner Hester Peirce on a Bitcoin ETF, Custody Rules and What’s Next for the SEC. The “Crypto Mom” of the SEC confirmed she’s a straight-talking, pro-crypto maverick. When Nathaniel Whittemore asked, “When bitcoin ETF?” during his “Breakdown” podcast, Peirce replied: “The standard that we set out to approve a bitcoin exchange-traded product is one that’s not consistent with what we’ve done in the past [and] is not consistent with our statutory guidelines for what we are supposed to do. You’ve got to look at these on their facts and circumstances, but I don’t understand why we don’t already have one.” Ethereum Far Outpaces Bitcoin in Developer Activity in 2020: Electric Capital Report. Developer activity is a vital metric for assessing the value of a network. So it’s really significant that by far the highest engagement among blockchains is found with Ethereum. Per an article on Electric Capital’s annual developer report by Brady Dale, Ethereum’s active developer count stood at 2,300 in the third quarter, compared with second-place Bitcoin’s number of 400. Now, the comparison is a bit apples to oranges because Ethereum is a multi-use case platform whereas Bitcoin is mostly a one-trick pony product, a currency. But there can be no doubt that for all its scaling challenges, Ethereum commands a great deal of enthusiasm among software developers. That, in itself, is cause for confidence. Bitcoin Dissidents: Those Who Need It Most. Out of a really impressive array of profiles in 2020’s “Most Influential” list, I’m choosing to highlight just this one by Anna Baydakova. Unlike the others from this year’s annual selection, it doesn’t focus on a single person but on a class of person, a far-flung international cohort: that of the activist. This was the year in which bitcoin’s role as an instrument of freedom for protestors and other change agents from Lagos to Minsk was brought home. There really is no better expression of its potential. • Money Reimagined: Bitcoin’s Tug of War as Wall Street Moves In • Money Reimagined: Bitcoin’s Tug of War as Wall Street Moves In \|\| Money Reimagined: Bitcoin’s Tug of War as Wall Street Moves In: A tug of war over Bitcoin’s future is becoming more ferocious. This battle, pitting corporate interests seeking to profit from the Bitcoin system’s disruptive potential against an anti-corporatist dream for a human-first financial system that bypasses institutional middlemen, has been in play for some time. But withbitcoin’slatest price rally, the fight has intensified. Now, Wall Street’s heavyweights are moving in. And to many who hail from Bitcoin’s “cypherpunk” roots, those guys are the enemy. Related:Crypto Long & Short: Bitcoin's Relationship With Gold Is More Complicated Than It Looks The engagement ofFidelity,Citibank,BlackRockand nowMassMutualneed not be the death knell for a humanist Bitcoin dream. There’s still a pathway to a fairer, more open, inclusive financial model, even with those institutions increasingly investing in and engaging with bitcoin services. But the route to that idealized future is less direct and, inevitably, involves more intense competition. It’s also not clear whether these competing visions can coexist in the long run. Either way, in the medium term – which may last decades – the tensions will persist and intensify. Who ultimately wins, and how, is what matters. To be clear, many long-term enthusiasts for bitcoin are cheering the arrival of these big names. Partly that’s because their participation has boosted the cryptocurrency’s price, which keeps bitcoin HODLers happy. It’s also because these newcomers are finally comprehending the core value proposition for investing in bitcoin as a digitally scarce store of value. That offers vindication for all who’ve been telling this story for the better part of a decade. Related:Saylor Hits Back at Claims MicroStrategy's Bitcoin Trove Makes It an ETF But there’s still an inherent conflict between the interests of regulated, compliance-conscious institutions, which will support the imposition of regulations and controls to ease their own participation in it, and those that see such rules and constraints as exclusionary barriers to entry for a wider swath of humanity. A lightning rod here is KYC and AML, the “know-your-customer” and “anti-money laundering” rules that compel banks to collect identifying records for all their account holders. This system means everywhere that Bitcoin touches the legacy financial system, which it will increasingly do as more big name companies and financial institutions are drawn to it, there is growing pressure for crypto service providers to impose KYC and, in turn to avoid dealing with others who don’t. (See: thecrypto “Travel Rule.”). The problem is not only that KYC runs counter to the cypherpunk ethos of privacy. As we discussed ina recent Money Reimagined podcast, this requirement can seriously hurt the goals of financial inclusion and innovation. Raoul Pal, CEO of RealVision and influential global macro investor, found himself in the middle of this fight recently after hetweetedto bitcoiners that KYC is in their interest because it will bring institutional money into the asset and boost its value. As someone with an account bearing the name SexyWebCamPro100x noted in one of more than 700 replies to that remark, the tweet begged fora meme of someone kicking a hornet’s nest. Pal is an influential thinker about Bitcoin’s place in the future financial system. So we invited him onto this week’s “Money Reimagined” podcast to discuss his brawl with Crypto Twitter. For balance, we also invited CoinDesk columnist Jill Carlson, who, among other roles, is a founder of the Open Money Initiative, which focuses on boosting financial access and economic freedom for underserved communities. Pal offered a nuanced explanation of his position. He said while his point was partly about allowing both bitcoin HODLers and institutions to “get rich,” it was also that for the Bitcoin system to be a transformative force it needs the “network effect” of more money coming into the space, which in turn requires institution-friendly regulation. “For people to realize their ambitions that it’s a stateless money … for it to be adopted by people who live within the confines of a sovereign state, unfortunately it will have to be regulated and there’s almost nothing we can do about it,” Pal said. Some might see a contradiction: for Bitcoin to realize its power as a “stateless” network, the state must exercise more control over it. But Pal’s point is about sequencing. He says we need to first go through a process of official accommodation within the existing system to advance Bitcoin’s journey along“Metcalfe’s Law.”Once it becomes a ubiquitous network, then it is in a position to properly challenge that system. Indeed, as Carlson pointed out, the positive thing, for those who believe in Bitcoin’s disruptive potential, is that “you’re not going to implement KYC and AML at the protocol level.” Since “there is nothing inherent to Bitcoin that can be regulated, enforced or controlled in that way,“ it can at that level always resist official coercion. But she also worried that the ever-growing encroachment of compliance requirements on applications builton topof that protocol impedes access to it among marginalized and financially excluded people. Carlson cited how LocalBitcoins, a peer-to-peer exchange network that was once a “gateway to economic freedom” in places that impose capital controls and other forms of monetary repression, has “increasingly come under scrutiny and has to institute more and more KYC and AML standards and protocols.” She added, “That’s problematic where we are talking about people who don’t have any identity or are unbanked and are refugees and so forth.” So, where does this go? Following Pal’s trajectory, we must first see expanded ownership of bitcoin as an asset, during which its price will drive dramatically higher before eventually reaching stability. Only then can it accommodate a broader set of use cases. One idea is that universal acceptance will then provide network effect benefits to “layer 2” solutions such asLightning, which could enable lightweight, low-cost transactions for all. Another is that universal bitcoin acceptance as a store-of-value lets it evolve into a programmable social reserve asset, which then becomes a form of smart, automatically executable collateral upon which innovative new forms of borrowing, lending and insurance are built. In theory, it could replace fiat sovereign assets such as U.S. Treasury notes and bonds as the building block for a global financial system, one that would presumably be more decentralized, with less friction and cost, more innovation and greater accessibility. But does that mean those seeking positive, humanistic change must just wait their turn? Must they first let Wall Street have its fill? And what guarantee is there that just because it becomes an institutionalized asset it also becomes a tool for payments and financial access? It’s hard to say. As Pal noted in our podcast interview, “The reality is that what we want [Bitcoin] to be, as individuals, is irrelevant. It’s a network that lives and breathes and does its thing.” All that’s true. But individuals also have the capacity to organize and, for better or worse, the capacity to lobby governments to introduce rules that influence the evolution of these networked systems. Which is why this tug of war must continue. LET’S BE FRANC.The Swiss National Bank’s straightlaced central bankers run a predictable, transparent and generally respected monetary policy. So they might chafe at a comparison to China’s policymakers, who oversee a rather opaque, government-mandated system of capital controls and centralized interest rates. But according tothis Bloomberg article, it looks as if Switzerland could earn the same “currency manipulator” label that the U.S. Treasury Department put on China in a politically charged move last year. In theory, the U.S. could consider sanctions if a country is deemed to be using its currency for unfair trade advantages. Switzerland has been actively intervening to hold down the value of the Swiss franc since 2011, when the euro crisis prompted huge inflows of safe haven-seeking money into the country’s economy. The U.S. would be more within its rights to call Switzerland a currency manipulator than it was with China. (The Treasury Dept. removed the designation fromChina earlier this year.) Switzerland is explicitly using its money-printing powers to alter the value of its currency with the goal of making its businesses more competitive. China used to do the same thing a decade ago. But at the time of the Treasury designation it was going the other way: intervening to strengthen the yuan against the dollar. Still, you can hardly blame Switzerland from trying to inculcate its relatively small economy from forces outside of its control in the much larger currency zone across its borders. The U.S. may well be sympathetic to that argument, and would refrain from applying sanctions. But, as the article points out, the risk to the Swiss National Bank is that currency speculators would see the designation as an excuse to test the central bank’s resolve. Might this lead to an even bigger influx of traders looking to push the Swiss franc higher on the bet that a now politically anxious SNB will hesitate to buy euros or dollars to stop the franc from appreciating? Maybe. But there’s a bigger picture problem here, one that plays into our future of money thesis. The SNB’s problems in managing a currency speaks to a wider set of risks where investors are growing nervous about expansionary monetary policy and growing fiscal debts within the worst global economic environment since the Great Depression. Switzerland’s experience offers lessons, where letter-of-the-law U.S. policymaking could provoke unforeseen consequences in currency markets. Were this to play out on a more global scale, with bigger and more numerous economies involved, we could have ourselves an international currency war. And in that environment, the only safe place to go is into an apolitical, independent store of value. Historically, that role has belonged to gold. Now, many are arguing, it’s bitcoin’s turn. AIRBNBUBBLE.Speaking of lessons, what can we learn from the remarkable turnaround at Airbnb? The home rental business looked doomed as travel ground to a halt in March when the reality of the COVID-19 pandemic set in. Yet, here it is, nine months later, launching an initial public offering that initially valued the company at $47 billion but saw it rise to $100 billion by the end of its first day of trading on Thursday. Duringa live CNN interviewthat was timed for the opening of the stock market, CEO Brian Chesky heard for the first time that the shares’ opening price was $139, almost twice the deal’s $68 level. He looked stunned. “I don’t know what to say,” he said. Good answer. Because it doesn’t make a lot of rational sense in terms of valuation. (Airbnb’s net loss for the first nine months of the year was $697 million.) To me, this tells us two things: 1) “QE infinity” by the Federal Reserve has created so much liquidity in the hands of hedge funds and other institutions that they’ll chase whatever yield they can, and 2) they’ll deploy that cash whenever they find the right narrative. It’s kind of a moot point whether Airbnb is truly worth the $100.7 billion market capitalization at which it closed the day. (AsThe Wall Street Journal noted,that’s a figure “greater than the combined market value of Marriott International Inc., Hilton Worldwide Holdings Inc. and Hyatt Hotels Corp.”) What matters is that cash-flush investors found what they were looking for: a good story. Chesky took some smart moves to, first, mitigate the pandemic’s threat to its business and then, second, discover new opportunities to provide services to people looking to escape crowded, locked-down cities. But what matters is how that story of recovery from a bad situation, a storylaid out in this WSJ video, plays out as an idea more than whether it equates to real projected value over time. As we’ve noted, elsewhere, stories matter. They especially matter when there’s lots of unspent money looking for a good one. How FinCEN Became a Honeypot for Sensitive Personal Data. CoinDesk’s Benjamin Powers goes digging, with experts, lawyers and, repeatedly, with FinCEN itself to find out how the powerful financial crimes enforcement network manages storage of the reams of “suspicious activity reports” it receives from banks. No one was able to give a straight answer. FinCEN, as Ben puts it, has become a honeypot of super-sensitive data. SEC Commissioner Hester Peirce on a Bitcoin ETF, Custody Rules and What’s Next for the SEC. The “Crypto Mom” of the SEC confirmed she’s a straight-talking, pro-crypto maverick. When Nathaniel Whittemore asked, “When bitcoin ETF?” during his “Breakdown” podcast, Peirce replied: “The standard that we set out to approve a bitcoin exchange-traded product is one that’s not consistent with what we’ve done in the past [and] is not consistent with our statutory guidelines for what we are supposed to do. You’ve got to look at these on their facts and circumstances, but I don’t understand why we don’t already have one.” Ethereum Far Outpaces Bitcoin in Developer Activity in 2020: Electric Capital Report. Developer activity is a vital metric for assessing the value of a network. So it’s really significant that by far the highest engagement among blockchains is found with Ethereum. Per an article on Electric Capital’s annual developer report by Brady Dale, Ethereum’s active developer count stood at 2,300 in the third quarter, compared with second-place Bitcoin’s number of 400. Now, the comparison is a bit apples to oranges because Ethereum is a multi-use case platform whereas Bitcoin is mostly a one-trick pony product, a currency. But there can be no doubt that for all its scaling challenges, Ethereum commands a great deal of enthusiasm among software developers. That, in itself, is cause for confidence. Bitcoin Dissidents: Those Who Need It Most. Out of a really impressive array of profiles in 2020’s “Most Influential” list, I’m choosing to highlight just this one by Anna Baydakova. Unlike the others from this year’s annual selection, it doesn’t focus on a single person but on a class of person, a far-flung international cohort: that of the activist. This was the year in which bitcoin’s role as an instrument of freedom for protestors and other change agents from Lagos to Minsk was brought home. There really is no better expression of its potential. • Money Reimagined: Bitcoin’s Tug of War as Wall Street Moves In • Money Reimagined: Bitcoin’s Tug of War as Wall Street Moves In \|\| Money Reimagined: Bitcoin’s Tug of War as Wall Street Moves In: A tug of war over Bitcoin’s future is becoming more ferocious. This battle, pitting corporate interests seeking to profit from the Bitcoin system’s disruptive potential against an anti-corporatist dream for a human-first financial system that bypasses institutional middlemen, has been in play for some time. But with bitcoin’s latest price rally, the fight has intensified. Now, Wall Street’s heavyweights are moving in. And to many who hail from Bitcoin’s “ cypherpunk ” roots, those guys are the enemy. Related: Crypto Long & Short: Bitcoin's Relationship With Gold Is More Complicated Than It Looks The engagement of Fidelity , Citibank , BlackRock and now MassMutual need not be the death knell for a humanist Bitcoin dream. There’s still a pathway to a fairer, more open, inclusive financial model, even with those institutions increasingly investing in and engaging with bitcoin services. But the route to that idealized future is less direct and, inevitably, involves more intense competition. It’s also not clear whether these competing visions can coexist in the long run. Either way, in the medium term – which may last decades – the tensions will persist and intensify. Who ultimately wins, and how, is what matters. Know your crypto To be clear, many long-term enthusiasts for bitcoin are cheering the arrival of these big names. Partly that’s because their participation has boosted the cryptocurrency’s price, which keeps bitcoin HODLers happy. It’s also because these newcomers are finally comprehending the core value proposition for investing in bitcoin as a digitally scarce store of value. That offers vindication for all who’ve been telling this story for the better part of a decade. Related: Saylor Hits Back at Claims MicroStrategy's Bitcoin Trove Makes It an ETF But there’s still an inherent conflict between the interests of regulated, compliance-conscious institutions, which will support the imposition of regulations and controls to ease their own participation in it, and those that see such rules and constraints as exclusionary barriers to entry for a wider swath of humanity. Story continues A lightning rod here is KYC and AML, the “know-your-customer” and “anti-money laundering” rules that compel banks to collect identifying records for all their account holders. This system means everywhere that Bitcoin touches the legacy financial system, which it will increasingly do as more big name companies and financial institutions are drawn to it, there is growing pressure for crypto service providers to impose KYC and, in turn to avoid dealing with others who don’t. (See: the crypto “Travel Rule.” ). The problem is not only that KYC runs counter to the cypherpunk ethos of privacy. As we discussed in a recent Money Reimagined podcast , this requirement can seriously hurt the goals of financial inclusion and innovation. State-backed stateless money Raoul Pal, CEO of RealVision and influential global macro investor, found himself in the middle of this fight recently after he tweeted to bitcoiners that KYC is in their interest because it will bring institutional money into the asset and boost its value. As someone with an account bearing the name SexyWebCamPro100x noted in one of more than 700 replies to that remark, the tweet begged for a meme of someone kicking a hornet’s nest . Pal is an influential thinker about Bitcoin’s place in the future financial system. So we invited him onto this week’s “Money Reimagined” podcast to discuss his brawl with Crypto Twitter. For balance, we also invited CoinDesk columnist Jill Carlson, who, among other roles, is a founder of the Open Money Initiative, which focuses on boosting financial access and economic freedom for underserved communities. Pal offered a nuanced explanation of his position. He said while his point was partly about allowing both bitcoin HODLers and institutions to “get rich,” it was also that for the Bitcoin system to be a transformative force it needs the “network effect” of more money coming into the space, which in turn requires institution-friendly regulation. “For people to realize their ambitions that it’s a stateless money … for it to be adopted by people who live within the confines of a sovereign state, unfortunately it will have to be regulated and there’s almost nothing we can do about it,” Pal said. Some might see a contradiction: for Bitcoin to realize its power as a “stateless” network, the state must exercise more control over it. But Pal’s point is about sequencing. He says we need to first go through a process of official accommodation within the existing system to advance Bitcoin’s journey along “Metcalfe’s Law.” Once it becomes a ubiquitous network, then it is in a position to properly challenge that system. Indeed, as Carlson pointed out, the positive thing, for those who believe in Bitcoin’s disruptive potential, is that “you’re not going to implement KYC and AML at the protocol level.” Since “there is nothing inherent to Bitcoin that can be regulated, enforced or controlled in that way,“ it can at that level always resist official coercion. But she also worried that the ever-growing encroachment of compliance requirements on applications built on top of that protocol impedes access to it among marginalized and financially excluded people. Carlson cited how LocalBitcoins, a peer-to-peer exchange network that was once a “gateway to economic freedom” in places that impose capital controls and other forms of monetary repression, has “increasingly come under scrutiny and has to institute more and more KYC and AML standards and protocols.” She added, “That’s problematic where we are talking about people who don’t have any identity or are unbanked and are refugees and so forth.” Keep fighting So, where does this go? Following Pal’s trajectory, we must first see expanded ownership of bitcoin as an asset, during which its price will drive dramatically higher before eventually reaching stability. Only then can it accommodate a broader set of use cases. One idea is that universal acceptance will then provide network effect benefits to “layer 2” solutions such as Lightning , which could enable lightweight, low-cost transactions for all. Another is that universal bitcoin acceptance as a store-of-value lets it evolve into a programmable social reserve asset, which then becomes a form of smart, automatically executable collateral upon which innovative new forms of borrowing, lending and insurance are built. In theory, it could replace fiat sovereign assets such as U.S. Treasury notes and bonds as the building block for a global financial system, one that would presumably be more decentralized, with less friction and cost, more innovation and greater accessibility. But does that mean those seeking positive, humanistic change must just wait their turn? Must they first let Wall Street have its fill? And what guarantee is there that just because it becomes an institutionalized asset it also becomes a tool for payments and financial access? It’s hard to say. As Pal noted in our podcast interview, “The reality is that what we want [Bitcoin] to be, as individuals, is irrelevant. It’s a network that lives and breathes and does its thing.” All that’s true. But individuals also have the capacity to organize and, for better or worse, the capacity to lobby governments to introduce rules that influence the evolution of these networked systems. Which is why this tug of war must continue. Global town hall LET’S BE FRANC. The Swiss National Bank’s straightlaced central bankers run a predictable, transparent and generally respected monetary policy. So they might chafe at a comparison to China’s policymakers, who oversee a rather opaque, government-mandated system of capital controls and centralized interest rates. But according to this Bloomberg article , it looks as if Switzerland could earn the same “currency manipulator” label that the U.S. Treasury Department put on China in a politically charged move last year. In theory, the U.S. could consider sanctions if a country is deemed to be using its currency for unfair trade advantages. Switzerland has been actively intervening to hold down the value of the Swiss franc since 2011, when the euro crisis prompted huge inflows of safe haven-seeking money into the country’s economy. The U.S. would be more within its rights to call Switzerland a currency manipulator than it was with China. (The Treasury Dept. removed the designation from China earlier this year. ) Switzerland is explicitly using its money-printing powers to alter the value of its currency with the goal of making its businesses more competitive. China used to do the same thing a decade ago. But at the time of the Treasury designation it was going the other way: intervening to strengthen the yuan against the dollar. Still, you can hardly blame Switzerland from trying to inculcate its relatively small economy from forces outside of its control in the much larger currency zone across its borders. The U.S. may well be sympathetic to that argument, and would refrain from applying sanctions. But, as the article points out, the risk to the Swiss National Bank is that currency speculators would see the designation as an excuse to test the central bank’s resolve. Might this lead to an even bigger influx of traders looking to push the Swiss franc higher on the bet that a now politically anxious SNB will hesitate to buy euros or dollars to stop the franc from appreciating? Maybe. But there’s a bigger picture problem here, one that plays into our future of money thesis. The SNB’s problems in managing a currency speaks to a wider set of risks where investors are growing nervous about expansionary monetary policy and growing fiscal debts within the worst global economic environment since the Great Depression. Switzerland’s experience offers lessons, where letter-of-the-law U.S. policymaking could provoke unforeseen consequences in currency markets. Were this to play out on a more global scale, with bigger and more numerous economies involved, we could have ourselves an international currency war. And in that environment, the only safe place to go is into an apolitical, independent store of value. Historically, that role has belonged to gold. Now, many are arguing, it’s bitcoin’s turn. AIRBNBUBBLE. Speaking of lessons, what can we learn from the remarkable turnaround at Airbnb? The home rental business looked doomed as travel ground to a halt in March when the reality of the COVID-19 pandemic set in. Yet, here it is, nine months later, launching an initial public offering that initially valued the company at $47 billion but saw it rise to $100 billion by the end of its first day of trading on Thursday. During a live CNN interview that was timed for the opening of the stock market, CEO Brian Chesky heard for the first time that the shares’ opening price was $139, almost twice the deal’s $68 level. He looked stunned. “I don’t know what to say,” he said. Good answer. Because it doesn’t make a lot of rational sense in terms of valuation. (Airbnb’s net loss for the first nine months of the year was $697 million.) To me, this tells us two things: 1) “QE infinity” by the Federal Reserve has created so much liquidity in the hands of hedge funds and other institutions that they’ll chase whatever yield they can, and 2) they’ll deploy that cash whenever they find the right narrative. It’s kind of a moot point whether Airbnb is truly worth the $100.7 billion market capitalization at which it closed the day. (As The Wall Street Journal noted, that’s a figure “greater than the combined market value of Marriott International Inc., Hilton Worldwide Holdings Inc. and Hyatt Hotels Corp.”) What matters is that cash-flush investors found what they were looking for: a good story. Chesky took some smart moves to, first, mitigate the pandemic’s threat to its business and then, second, discover new opportunities to provide services to people looking to escape crowded, locked-down cities. But what matters is how that story of recovery from a bad situation, a story laid out in this WSJ video , plays out as an idea more than whether it equates to real projected value over time. As we’ve noted, elsewhere, stories matter. They especially matter when there’s lots of unspent money looking for a good one. Relevant reads How FinCEN Became a Honeypot for Sensitive Personal Data . CoinDesk’s Benjamin Powers goes digging, with experts, lawyers and, repeatedly, with FinCEN itself to find out how the powerful financial crimes enforcement network manages storage of the reams of “suspicious activity reports” it receives from banks. No one was able to give a straight answer. FinCEN, as Ben puts it, has become a honeypot of super-sensitive data. SEC Commissioner Hester Peirce on a Bitcoin ETF, Custody Rules and What’s Next for the SEC . The “Crypto Mom” of the SEC confirmed she’s a straight-talking, pro-crypto maverick. When Nathaniel Whittemore asked, “When bitcoin ETF?” during his “Breakdown” podcast, Peirce replied: “The standard that we set out to approve a bitcoin exchange-traded product is one that’s not consistent with what we’ve done in the past [and] is not consistent with our statutory guidelines for what we are supposed to do. You’ve got to look at these on their facts and circumstances, but I don’t understand why we don’t already have one.” Ethereum Far Outpaces Bitcoin in Developer Activity in 2020: Electric Capital Report . Developer activity is a vital metric for assessing the value of a network. So it’s really significant that by far the highest engagement among blockchains is found with Ethereum. Per an article on Electric Capital’s annual developer report by Brady Dale, Ethereum’s active developer count stood at 2,300 in the third quarter, compared with second-place Bitcoin’s number of 400. Now, the comparison is a bit apples to oranges because Ethereum is a multi-use case platform whereas Bitcoin is mostly a one-trick pony product, a currency. But there can be no doubt that for all its scaling challenges, Ethereum commands a great deal of enthusiasm among software developers. That, in itself, is cause for confidence. Bitcoin Dissidents: Those Who Need It Most . Out of a really impressive array of profiles in 2020’s “ Most Influential ” list, I’m choosing to highlight just this one by Anna Baydakova. Unlike the others from this year’s annual selection, it doesn’t focus on a single person but on a class of person, a far-flung international cohort: that of the activist. This was the year in which bitcoin’s role as an instrument of freedom for protestors and other change agents from Lagos to Minsk was brought home. There really is no better expression of its potential. Related Stories Money Reimagined: Bitcoin’s Tug of War as Wall Street Moves In Money Reimagined: Bitcoin’s Tug of War as Wall Street Moves In [Social Media Buzz] None available.	19142.38, 19246.64, 19417.08, 21310.60, 22805.16, 23137.96, 23869.83, 23477.29, 22803.08, 23783.03
Given the historical Bitcoin prices from the last 90 days, predict the next 10 daily closing prices. The historical prices are: 4236.31, 4376.53, 4597.12, 4599.88, 4228.75, 4226.06, 4122.94, 4161.27, 4130.81, 3882.59, 3154.95, 3637.52, 3625.04, 3582.88, 4065.20, 3924.97, 3905.95, 3631.04, 3630.70, 3792.40, 3682.84, 3926.07, 3892.35, 4200.67, 4174.73, 4163.07, 4338.71, 4403.74, 4409.32, 4317.48, 4229.36, 4328.41, 4370.81, 4426.89, 4610.48, 4772.02, 4781.99, 4826.48, 5446.91, 5647.21, 5831.79, 5678.19, 5725.59, 5605.51, 5590.69, 5708.52, 6011.45, 6031.60, 6008.42, 5930.32, 5526.64, 5750.80, 5904.83, 5780.90, 5753.09, 6153.85, 6130.53, 6468.40, 6767.31, 7078.50, 7207.76, 7379.95, 7407.41, 7022.76, 7144.38, 7459.69, 7143.58, 6618.14, 6357.60, 5950.07, 6559.49, 6635.75, 7315.54, 7871.69, 7708.99, 7790.15, 8036.49, 8200.64, 8071.26, 8253.55, 8038.77, 8253.69, 8790.92, 9330.55, 9818.35, 10058.80, 9888.61, 10233.60, 10975.60, 11074.60.	[Bitcoin Technical Analysis for 2017-12-02] Volume: 5138500096, RSI (14-day): 81.86, 50-day EMA: 7518.51, 200-day EMA: 4777.39 [Wider Market Context] None available. [Recent News (last 7 days)] Top 5 Things That Moved Markets This Past Week: What will next week bring? Investing.com – Take a peek at the top 5 things that rocked U.S. markets this week. Flynn, Senate Tax Bill Rocked US Markets Investors had to contend with a wild ride in US stock markets this week as signs of progress on tax reform were offset by reports suggesting that Michael Flynn was prepared to testify against President Donald Trump as part of the investigation into Russian involvement in the election. Flynn is prepared to testify that President Donald Trump directed him to make contact with Russians when he was a presidential candidate, ABC News reported. The dow jones fell as much as 350 points on Friday but recovered to close roughly 40 points lower as focused shifted to tax reform after Senator Mitch McConnel said Republicans had the 50 votes they need to pass the tax bill. Bitcoin Hit $11,000 Wild swings in Bitcoin continued as the popular digital currency soared to $11,427.2 for the first time in its nine-year history on Wednesday before profit taking set it, forcing the digital currency to fall below $9,000. The drop in bitcoin was short-lived, however, as it recovered amid growing expectations that Chicago Mercantile Exchange and the CBOE Futures Exchange will be the first traditional exchanges to enter the cryptocurrency market. "We are pleased to bring Bitcoin futures to market”, Terry Duffy, CME Group Chairman and Chief Executive Officer on Friday. Bitcoin futures will be available to trade on Dec. 18. Sterling Soared to 2-Month Highs Sterling rose to two-month highs as sentiment on brexit turned positive following reports this week suggesting British and EU negotiators have reached a deal over the so-called Brexit divorce bill. If a settlement on the Brexit divorce bill is agreed, it paves the way for UK-EU discussions on an interim trade deal, easing the risk of “hard Brexit” – the UK exiting the EU without a trade deal. GBP/USD came under pressure on Friday but remained close to two-month highs. Story continues OPEC, Russia Extended Oil Cuts Through 2018 OPEC and some non-OPEC producers who met on Thursday in Vienna, Austria, said they would continue to cut supply by 1.8 million barrels per day (bpd) until the end of 2018, raising expectations for a continued drawdown of inventories as rebalancing in markets gets underway. The announcement of a nine-month extension had a muted impact on oil prices as the extension was said to be mostly priced in, but reports that both Nigeria and Libya decided to cap production added a positive slant on the outcome of the meeting. Crude futures for January delivery rose 1.7% to settle at $58.36 a barrel. Gold Prices Slipped to Second-Straight Weekly Loss A rally in gold prices on Friday on reports suggesting Michael Flynn was “prepared to testify” against President Donald Trump as part of an investigation into Russia’s involved in the presidential election failed to offset losses earlier in the week. The losses in gold earlier this week came amid signs that US inflation is starting to gather pace lifted the dollar higher, reducing demand for the precious metal. The core price consumer expenditure (PCE) index – the Fed’s preferred measure of inflation – rose 1.4% in October year-on-year, compared to a 1.3% rise in the previous month, while September inflation was revised upward to 1.4% from 1.3%. The upbeat inflation report, fuelled expectations that the Federal Reserve would adopt a more aggressive stance on monetary policy, lifting yields and the dollar to session highs, which pressured gold prices to a nearly two-week low. “We now see four rate hikes next year instead of three, followed by three hikes in 2019 instead of four,” said Deutsche Bank. Related Articles Peru stocks higher at close of trade; S&P Lima General up 0.37% Top 5 Things That Moved Markets This Past Week Canada stocks lower at close of trade; S&P/TSX Composite down 0.15% \|\| Top 5 Things That Moved Markets This Past Week: Investing.com – Take a peek at the top 5 things that rocked U.S. markets this week. Flynn, Senate Tax Bill Rocked US Markets Investors had to contend with a wild ride in US stock markets this week as signs of progress on tax reform were offset by reports suggesting that Michael Flynn was prepared to testify against President Donald Trump as part of the investigation into Russian involvement in the election. Flynn is prepared to testify that President Donald Trump directed him to make contact with Russians when he was a presidential candidate, ABC News reported. The dow jones fell as much as 350 points on Friday but recovered to close roughly 40 points lower as focused shifted to tax reform after Senator Mitch McConnel said Republicans had the 50 votes they need to pass the tax bill. Bitcoin Hit $11,000 Wild swings in Bitcoin continued as the popular digital currency soared to $11,427.2 for the first time in its nine-year history on Wednesday before profit taking set it, forcing the digital currency to fall below $9,000. The drop in bitcoin was short-lived, however, as it recovered amid growing expectations that Chicago Mercantile Exchange and the CBOE Futures Exchange will be the first traditional exchanges to enter the cryptocurrency market. "We are pleased to bring Bitcoin futures to market”, Terry Duffy, CME Group Chairman and Chief Executive Officer on Friday. Bitcoin futures will be available to trade on Dec. 18. Sterling Soared to 2-Month Highs Sterling rose to two-month highs as sentiment on brexit turned positive following reports this week suggesting British and EU negotiators have reached a deal over the so-called Brexit divorce bill. If a settlement on the Brexit divorce bill is agreed, it paves the way for UK-EU discussions on an interim trade deal, easing the risk of “hard Brexit” – the UK exiting the EU without a trade deal. GBP/USD came under pressure on Friday but remained close to two-month highs. OPEC, Russia Extended Oil Cuts Through 2018 OPEC and some non-OPEC producers who met on Thursday in Vienna, Austria, said they would continue to cut supply by 1.8 million barrels per day (bpd) until the end of 2018, raising expectations for a continued drawdown of inventories as rebalancing in markets gets underway. The announcement of a nine-month extension had a muted impact on oil prices as the extension was said to be mostly priced in, but reports that both Nigeria and Libya decided to cap production added a positive slant on the outcome of the meeting. Crude futures for January delivery rose 1.7% to settle at $58.36 a barrel. Gold Prices Slipped to Second-Straight Weekly Loss A rally in gold prices on Friday on reports suggesting Michael Flynn was “prepared to testify” against President Donald Trump as part of an investigation into Russia’s involved in the presidential election failed to offset losses earlier in the week. The losses in gold earlier this week came amid signs that US inflation is starting to gather pace lifted the dollar higher, reducing demand for the precious metal. The core price consumer expenditure (PCE) index – the Fed’s preferred measure of inflation –rose 1.4%in October year-on-year, compared to a 1.3% rise in the previous month, while September inflation was revised upward to 1.4% from 1.3%. The upbeat inflation report, fuelled expectations that the Federal Reserve would adopt a more aggressive stance on monetary policy, lifting yields and the dollar to session highs, which pressured gold prices to a nearly two-week low. “We now see four rate hikes next year instead of three, followed by three hikes in 2019 instead of four,” said Deutsche Bank. Related Articles Peru stocks higher at close of trade; S&P Lima General up 0.37% Top 5 Things That Moved Markets This Past Week Canada stocks lower at close of trade; S&P/TSX Composite down 0.15% \|\| Why Zumiez, Genesco, and Overstock.com Slumped Today: The stock market lost ground on Friday, but things ended up a lot better than it appeared they would earlier in the day. The Dow and S&P 500 finished down less than a quarter percent after having seen declines of well over 1% at their worst levels of the day, as news about special counselÂ Robert Mueller's plea agreement with the Trump administration's former national security advisor sent stocks plunging briefly. After an initial panic, investors seemed to revert to a buy-the-dip mentality. Still, some companies weren't able to make up lost ground, and Zumiez (NASDAQ: ZUMZ) , Genesco (NYSE: GCO) , and Overstock.com (NASDAQ: OSTK) were among the worst performers on the day. Below, we'll look more closely at these stocks to tell you why they did so poorly. Zumiez takes a tumble Zumiez stock finished down 8.5% despite the company's fairly solid third-quarter financial report. Several of the skateboard-focused retailer's business metrics looked good, including an 11% jump in quarterly revenue and a nearly 8% rise in comparable sales. November looked particularly strong for the company, matching the same 8% rise in comps. Yet even though Zumiez did a good job of reining in overhead expenses and other operating costs, a decline in gross margin suggested that the retailer still faces some pricing pressures with its merchandise. To get moving in the right direction, Zumiez will have to keep delivering strong results and make further progress toward controlling costs. Psychedelically-painted van with Zumiez-sponsored program featured on it, along with a person in a hoodie standing in front of the van. Image source: Zumiez. Genesco puts a lid on growth Shares of footwear and apparel retail specialist Genesco plunged 18% after the company reported some discouraging third-quarter results. The company behind the Journeys, Lids Sports, Schuh, and Johnston & Murphy franchises said that its various product lines had mixed performance, with Journeys continuing to rebound convincingly even as Lids faced additional challenges that hurt the segment's numbers. Genesco CEO Robert Dennis tried to give an upbeat assessment of the retail company's prospects, pointing to good trends over the Thanksgiving holiday weekend. Yet lower demand for NFL licensed merchandise led Genesco to cut its earnings guidance for the full year. Without a better holiday season, Genesco could keep languishing into 2018. Story continues Overstock.com faces bitcoin skeptics Finally, shares of Overstock.com dropped 10%. The e-commerce company has faced a lot of difficulties over the years, but recently, it has gotten the most attention because of its willingness to accept a large number of cryptocurrencies . Not only has bitcoin surged to record levels, but less popular cryptocurrencies like Ethereum, Litecoin, and Bitcoin Cash are also among the digital currencies that Overstock.com is willing to accept. As long as bitcoin and its peers do well, then that should leave Overstock.com in a good position. Yet some long-term investors fear that being a first-mover in this realm could backfire if bitcoin's success quickly turns to failure. More From The Motley Fool 3 Growth Stocks at Deep-Value Prices 5 Expected Social Security Changes in 2018 6 Years Later, 6 Charts That Show How Far Apple, Inc. Has Come Since Steve Jobs' Passing 10 Best Stocks to Buy Today The $16,122 Social Security Bonus You Cannot Afford to Miss Why You're Smart to Buy Shopify Inc. (US) -- Despite Citron's Report Dan Caplinger has no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy . \|\| Why Zumiez, Genesco, and Overstock.com Slumped Today: The stock market lost ground on Friday, but things ended up a lot better than it appeared they would earlier in the day. The Dow and S&P 500 finished down less than a quarter percent after having seen declines of well over 1% at their worst levels of the day, as news about special counselÂ Robert Mueller's plea agreement with the Trump administration's former national security advisor sent stocks plunging briefly. After an initial panic, investors seemed to revert to a buy-the-dip mentality. Still, some companies weren't able to make up lost ground, and Zumiez (NASDAQ: ZUMZ) , Genesco (NYSE: GCO) , and Overstock.com (NASDAQ: OSTK) were among the worst performers on the day. Below, we'll look more closely at these stocks to tell you why they did so poorly. Zumiez takes a tumble Zumiez stock finished down 8.5% despite the company's fairly solid third-quarter financial report. Several of the skateboard-focused retailer's business metrics looked good, including an 11% jump in quarterly revenue and a nearly 8% rise in comparable sales. November looked particularly strong for the company, matching the same 8% rise in comps. Yet even though Zumiez did a good job of reining in overhead expenses and other operating costs, a decline in gross margin suggested that the retailer still faces some pricing pressures with its merchandise. To get moving in the right direction, Zumiez will have to keep delivering strong results and make further progress toward controlling costs. Psychedelically-painted van with Zumiez-sponsored program featured on it, along with a person in a hoodie standing in front of the van. Image source: Zumiez. Genesco puts a lid on growth Shares of footwear and apparel retail specialist Genesco plunged 18% after the company reported some discouraging third-quarter results. The company behind the Journeys, Lids Sports, Schuh, and Johnston & Murphy franchises said that its various product lines had mixed performance, with Journeys continuing to rebound convincingly even as Lids faced additional challenges that hurt the segment's numbers. Genesco CEO Robert Dennis tried to give an upbeat assessment of the retail company's prospects, pointing to good trends over the Thanksgiving holiday weekend. Yet lower demand for NFL licensed merchandise led Genesco to cut its earnings guidance for the full year. Without a better holiday season, Genesco could keep languishing into 2018. Story continues Overstock.com faces bitcoin skeptics Finally, shares of Overstock.com dropped 10%. The e-commerce company has faced a lot of difficulties over the years, but recently, it has gotten the most attention because of its willingness to accept a large number of cryptocurrencies . Not only has bitcoin surged to record levels, but less popular cryptocurrencies like Ethereum, Litecoin, and Bitcoin Cash are also among the digital currencies that Overstock.com is willing to accept. As long as bitcoin and its peers do well, then that should leave Overstock.com in a good position. Yet some long-term investors fear that being a first-mover in this realm could backfire if bitcoin's success quickly turns to failure. More From The Motley Fool 3 Growth Stocks at Deep-Value Prices 5 Expected Social Security Changes in 2018 6 Years Later, 6 Charts That Show How Far Apple, Inc. Has Come Since Steve Jobs' Passing 10 Best Stocks to Buy Today The $16,122 Social Security Bonus You Cannot Afford to Miss Why You're Smart to Buy Shopify Inc. (US) -- Despite Citron's Report Dan Caplinger has no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy . \|\| Montessori Schools accept bitcoin for tuition: The Montessori Schools in Flatiron and SoHo an elite school for students ages 3 to 6 accepts payments in bitcoin for its $31,900 per year tuition. A lot of our parents are in the technology field, so we did get about a handful of parents over the course of about a year that would mention, Hey, will you ever accept bitcoin? And that led me to look into the space a little bit more, pay attention to it, learn about it, co-founder Marco Ciocca told Yahoo Finance in a telephone interview. The schools educational program is built upon the classical methods of Dr. Maria Montessori. A lot of todays leading technologists including Larry Page, Sergey Brin and Jeff Bezos at some point attended a Montessori school. So, for us, accepting this kind of new technology that builds on mathematics is in line with our philosophy, Ciocca said. The school, which has a student body of just over 300 kids, began accepting bitcoin in spring. Five parents paid in the cryptocurrency for the current school year, and Ciocca expects that number to double next fall. The Montessori Schools in Flatiron and SoHo accepts bitcoin for tuition payments. (Photo courtesy of Roberto Chamorro) Were just wrapping up admissions for next year, and already two have already paid in bitcoin, but again, we havent even given out all of our acceptances yet. I suspect that number five will probably double for this coming school year if not more, just on account of all the press bitcoin is getting. And it seems like a lot more people are in it than last year. Bitcoin ( BTC ) was trading around $2,000 when the school started accepting the cryptocurrency. The price of a bitcoin was last trading around $10,500 on Friday. At that price, tuition today is just over three bitcoin. The Montessori Schools have a merchant account through Coinbase. For the first $1 million in payment collection, theres no fee. After that, its 1%. Whats more, the school doesnt hold onto the payments as bitcoin. It instantly converts to US dollars. For parents who have held bitcoin for a long time, one could argue theyre paying tuition at a discounted price. Story continues You know even given the volatility, if I tell you on a Tuesday and send you an invoice and you dont pay until Thursday, my invoice will say its for $5,000. On Thursday, youre still going to transfer the required amount of bitcoin for $5,000, so I dont have any exposure to speculation or any big appreciation or depreciation of the bitcoin. Its really just another form of payment, said Ciocca. Speaking of payments, bitcoin has yet to become an option for payroll. It might. Maybe in the next handful of years, but at this point, its just kind of watercooler talk. Julia La Roche is a finance reporter at Yahoo Finance . Follow her on Twitter . CUBAN: Bitcoin is more a collectible than a currency CUBAN: If we let China or Russia win the AI race were SOL One way millennials are having a big impact on companies IBMs Rometty: The skills gap for tech jobs is the essence of divide \|\| Elite NYC pre-K school accepts bitcoin for tuition: TheMontessori Schools in Flatiron and SoHo— an elite school for students ages 3 to 6 — accepts payments in bitcoin for its $31,900 per year tuition. “A lot of our parents are in the technology field, so we did get about a handful of parents over the course of about a year that would mention, ‘Hey, will you ever accept bitcoin?’ And that led me to look into the space a little bit more, pay attention to it, learn about it,” co-founder Marco Ciocca told Yahoo Finance in a telephone interview. The school’s educational program is built upon the classical methods of Dr. Maria Montessori. A lot of today’s leading technologists —including Larry Page, Sergey Brin and Jeff Bezos— at some point attended a Montessori school. “So, for us, accepting this kind of new technology that builds on mathematics is in line with our philosophy,” Ciocca said. The school, which has a student body of just over 300 kids, began accepting bitcoin in spring. Five parents paid in the cryptocurrency for the current school year, and Ciocca expects that number to double next fall. “We’re just wrapping up admissions for next year, and already two have already paid in bitcoin, but again, we haven’t even given out all of our acceptances yet. I suspect that number five will probably double for this coming school year if not more, just on account of all the press bitcoin is getting. And it seems like a lot more people are in it than last year.” Bitcoin (BTC) was trading around $2,000 when the school started accepting the cryptocurrency. The price of a bitcoin was last trading around $10,500 on Friday. At that price, tuition today is just over three bitcoin. The Montessori Schools have a merchant account through Coinbase. For the first $1 million in payment collection, there’s no fee. After that, it’s 1%. What’s more, the school doesn’t hold onto the payments as bitcoin. It instantly converts to US dollars. For parents who have held bitcoin for a long time, one could argue they’re paying tuition at a discounted price. “You know even given the volatility, if I tell you on a Tuesday and send you an invoice and you don’t pay until Thursday, my invoice will say it’s for $5,000. On Thursday, you’re still going to transfer the required amount of bitcoin for $5,000, so I don’t have any exposure to speculation or any big appreciation or depreciation of the bitcoin. It’s really just another form of payment,” said Ciocca. Speaking of payments, bitcoin has yet to become an option for payroll. “It might. Maybe in the next handful of years, but at this point, it’s just kind of watercooler talk.” Julia La Roche is a finance reporter at Yahoo Finance.Follow her onTwitter. • CUBAN: Bitcoin is more a collectible than a currency • CUBAN: If we let China or Russia win the AI race we’re ‘SOL’ • One way millennials are having a big impact on companies • IBM’s Rometty: The skills gap for tech jobs is ‘the essence of divide’ \|\| JPMorgan strategist: Bitcoin futures can 'add legitimacy' to potential 'emerging asset class': For all of JPMorgan Chase CEO Jamie Dimon 's criticism of bitcoin , a strategist at the bank said Friday that bitcoin futures could "add legitimacy" to the potential new asset class. "The prospective launch of bitcoin futures contracts by established exchanges in particular has the potential to add legitimacy and thus increase the appeal of the cryptocurrency market to both retail and institutional investors," Nikolaos Panigirtzoglou, a global markets strategist at JPMorgan, said in a Friday report. The Commodity Futures Trading Commission said Friday it will allow CME and its competitor, the Cboe Futures Exchange, to launch bitcoin contracts. CME, the world's largest futures exchange, also announced it would launch bitcoin futures on Dec. 18. "In all, the prospective introduction of bitcoin futures has the potential to elevate cryptocurrencies to an emerging asset class," Panigirtzoglou said. "The value of this new asset class is a function of the breadth of its acceptance as a store of wealth and as a means of payment and simply judging by other stores of wealth such as gold, cryptocurrencies have the potential to grow further from here." In contrast, Dimon has been an outspoken critic of bitcoin. The banking executive said in September the digital currency is a "fraud" that "won't end well." Dimon then said in October that people "stupid enough" to buy bitcoin will "pay the price for it one day." However, Dimon did say he believes the blockchain technology behind bitcoin was valid, he just did not understand digital currencies that are not backed by a government. JPMorgan is already involved in blockchain-related projects. In 2015, the bank began working on Quorum, an open-source, enterprise-grade transaction network focused on data privacy. The platform is built on the network behind the digital currency ethereum. Story continues The bank is also a founding member of the Enterprise Ethereum Alliance and partnered with the developers of privacy-focused digital currency Zcash in May. Bitcoin surged above $11,000 Wednesday to an all-time high, after starting the year below $1,000. Bitcoin traded near $10,605 Friday, recovering partly from a sharp drop to near $9,000 Thursday, according to CoinDesk. WATCH: Bitcoin futures listing by end of year More From CNBC Congress dangles tax cuts before markets — as well as a possible shutdown Tax reform winners: Experts name their top stock picks Despite 58 panic attacks, this market is actually melting up, says Ed Yardeni \|\| JPMorgan strategist: Bitcoin futures can 'add legitimacy' to potential 'emerging asset class': For all of JPMorgan Chase CEO Jamie Dimon 's criticism of bitcoin , a strategist at the bank said Friday that bitcoin futures could "add legitimacy" to the potential new asset class. "The prospective launch of bitcoin futures contracts by established exchanges in particular has the potential to add legitimacy and thus increase the appeal of the cryptocurrency market to both retail and institutional investors," Nikolaos Panigirtzoglou, a global markets strategist at JPMorgan, said in a Friday report. The Commodity Futures Trading Commission said Friday it will allow CME and its competitor, the Cboe Futures Exchange, to launch bitcoin contracts. CME, the world's largest futures exchange, also announced it would launch bitcoin futures on Dec. 18. "In all, the prospective introduction of bitcoin futures has the potential to elevate cryptocurrencies to an emerging asset class," Panigirtzoglou said. "The value of this new asset class is a function of the breadth of its acceptance as a store of wealth and as a means of payment and simply judging by other stores of wealth such as gold, cryptocurrencies have the potential to grow further from here." In contrast, Dimon has been an outspoken critic of bitcoin. The banking executive said in September the digital currency is a "fraud" that "won't end well." Dimon then said in October that people "stupid enough" to buy bitcoin will "pay the price for it one day." However, Dimon did say he believes the blockchain technology behind bitcoin was valid, he just did not understand digital currencies that are not backed by a government. JPMorgan is already involved in blockchain-related projects. In 2015, the bank began working on Quorum, an open-source, enterprise-grade transaction network focused on data privacy. The platform is built on the network behind the digital currency ethereum. Story continues The bank is also a founding member of the Enterprise Ethereum Alliance and partnered with the developers of privacy-focused digital currency Zcash in May. Bitcoin surged above $11,000 Wednesday to an all-time high, after starting the year below $1,000. Bitcoin traded near $10,605 Friday, recovering partly from a sharp drop to near $9,000 Thursday, according to CoinDesk. WATCH: Bitcoin futures listing by end of year More From CNBC Congress dangles tax cuts before markets — as well as a possible shutdown Tax reform winners: Experts name their top stock picks Despite 58 panic attacks, this market is actually melting up, says Ed Yardeni \|\| JPMorgan strategist: Bitcoin futures can 'add legitimacy' to potential 'emerging asset class': For all of JPMorgan Chase CEO Jamie Dimon 's criticism of bitcoin , a strategist at the bank said Friday that bitcoin futures could "add legitimacy" to the potential new asset class. "The prospective launch of bitcoin futures contracts by established exchanges in particular has the potential to add legitimacy and thus increase the appeal of the cryptocurrency market to both retail and institutional investors," Nikolaos Panigirtzoglou, a global markets strategist at JPMorgan, said in a Friday report. The Commodity Futures Trading Commission said Friday it will allow CME and its competitor, the Cboe Futures Exchange, to launch bitcoin contracts. CME, the world's largest futures exchange, also announced it would launch bitcoin futures on Dec. 18. "In all, the prospective introduction of bitcoin futures has the potential to elevate cryptocurrencies to an emerging asset class," Panigirtzoglou said. "The value of this new asset class is a function of the breadth of its acceptance as a store of wealth and as a means of payment and simply judging by other stores of wealth such as gold, cryptocurrencies have the potential to grow further from here." In contrast, Dimon has been an outspoken critic of bitcoin. The banking executive said in September the digital currency is a "fraud" that "won't end well." Dimon then said in October that people "stupid enough" to buy bitcoin will "pay the price for it one day." However, Dimon did say he believes the blockchain technology behind bitcoin was valid, he just did not understand digital currencies that are not backed by a government. JPMorgan is already involved in blockchain-related projects. In 2015, the bank began working on Quorum, an open-source, enterprise-grade transaction network focused on data privacy. The platform is built on the network behind the digital currency ethereum. Story continues The bank is also a founding member of the Enterprise Ethereum Alliance and partnered with the developers of privacy-focused digital currency Zcash in May. Bitcoin surged above $11,000 Wednesday to an all-time high, after starting the year below $1,000. Bitcoin traded near $10,605 Friday, recovering partly from a sharp drop to near $9,000 Thursday, according to CoinDesk. WATCH: Bitcoin futures listing by end of year More From CNBC Congress dangles tax cuts before markets — as well as a possible shutdown Tax reform winners: Experts name their top stock picks Despite 58 panic attacks, this market is actually melting up, says Ed Yardeni \|\| GM Self-Driving Taxis Could Debut in U.S. Cities in 2019: General Motors Company (NYSE: GM ) may be ready to launch self-riving taxis in 2019. GM Self-Driving Taxis Could Debut in U.S. Cities in 2019 Source: Shutterstock General Motors Company is planning to use its Chevy Bolt vehicles for the self-driving taxis. It didnt say where this service will be available, but San Francisco and New York City are safe bets. Self-driving Chevy Bolts are already in testing in San Francisco and GM previously said it would test in NYC. GMs push to launch self-driving taxis by 2019 will likely have it beating out rivals looking to do the same. However, other tech companies that have an interest in the technology are quickly moving forward with their own versions of self-driving cars. InvestorPlace - Stock Market News, Stock Advice & Trading Tips GM is already confident about its self-driving cars and has even been letting some members of the press take test rides in them. Overall, the vehicles appear to perform well, with only a few minor issues. With this being the case, the company may really be ready to launch its taxi service in just a couple of years, reports The Verge . While GM is preparing for self-driving taxis in 2019, there are still a few hurdles that it has to overcome first. One of the biggest problems it will have to deal with is regulators . Its one thing to have a self-driving car with a driver on standby, but this taxi service would likely just seek to let the cars handle all the driving. 8 Bitcoin Stocks That You Won't Lose Your Shirt Over Another issue that GM will have to deal with is setting up a social network for its taxi service. This will also put it directly in competition with companies like Uber and Lfyt , both of which are already strong presences in the ride-sharing industry. More From InvestorPlace 5 Strong Buy Dividend Growth Stocks for 2018 5 Blue-Chip Stocks to Buy for December The 10 Best ETFs to Buy for Yield-Starved Investors As of this writing, William White did not hold a position in any of the aforementioned securities. The post GM Self-Driving Taxis Could Debut in U.S. Cities in 2019 appeared first on InvestorPlace . \|\| GM Self-Driving Taxis Could Debut in U.S. Cities in 2019: General Motors Company(NYSE:GM) may be ready to launch self-riving taxis in 2019. Source: Shutterstock General Motors Company is planning to use its Chevy Bolt vehicles for the self-driving taxis. It didn’t say where this service will be available, but San Francisco and New York City are safe bets. Self-driving Chevy Bolts are already in testing in San Francisco and GM previously said it would test in NYC. GM’s push to launch self-driving taxis by 2019 will likely have itbeating out rivalslooking to do the same. However, other tech companies that have an interest in the technology are quickly moving forward with their own versions of self-driving cars. InvestorPlace - Stock Market News, Stock Advice & Trading Tips GM is already confident about its self-driving cars and has even been letting some members of the press take test rides in them. Overall, the vehicles appear to perform well, with only a few minor issues. With this being the case, the company may really be ready to launch its taxi service in just a couple of years, reportsThe Verge. While GM is preparing for self-driving taxis in 2019, there are still a few hurdles that it has to overcome first. One of the biggest problems it will have todeal with is regulators. Its one thing to have a self-driving car with a driver on standby, but this taxi service would likely just seek to let the cars handle all the driving. • 8 Bitcoin Stocks That You Won't Lose Your Shirt Over Another issue that GM will have to deal with is setting up a social network for its taxi service. This will also put it directly in competition with companies likeUberandLfyt, both of which are already strong presences in the ride-sharing industry. • 5 ‘Strong Buy’ Dividend Growth Stocks for 2018 • 5 Blue-Chip Stocks to Buy for December • The 10 Best ETFs to Buy for Yield-Starved Investors As of this writing, William White did not hold a position in any of the aforementioned securities. The postGM Self-Driving Taxis Could Debut in U.S. Cities in 2019appeared first onInvestorPlace. \|\| Bitcoin is a concern but not a currency, says City watchdog chief: Bitcoin surged to $11,000 (£8,200) just 12 hours after passing the $10,000 mark this week, before plummeting by more than $2,000 - AFP City watchdog chief Andrew Bailey has flagged "big concern" for retail investors dabbling in products linked to Bitcoin, adding that the highly volatile cryptocurrency is a commodity, "not a currency". Bitcoin surged to $11,000 (£8,200) just 12 hours after passing the $10,000 mark this week, before plummeting by more than $2,000 amid fears that it is a bubble that could soon burst. It is currently trading at $10,555. "Bitcoin is a commodity in my view, it's not a currency; it's not a fiat currency in any sense, it's a commodity," Mr Bailey told Bloomberg on Friday afternoon. "Commodity prices go up and down. Bitcoin is currently enjoying a very sharp rise in its price but the history of Bitcoin pricing is very volatile." He added that the Financial Conduct Authority was not the regulator of cryptocurrencies but would step in when it comes to instruments linked to digital coins, such as cryptocurrency contracts for difference (CFDs) which let clients bet on the way a financial instrument will move. "Particularly when they're being marketed to retail investors. It's a concern, it's quite a big concern," he said. Firms are rushing to trade Bitcoin after it hit a fresh high this week, with Mr Bailey's comments coming hours after the world's largest exchange CME was given the all-clear to launch a bitcoin futures contract later this month. View comments \|\| Bitcoin is a concern but not a currency, says City watchdog chief: City watchdog chief Andrew Bailey has flagged "big concern" for retail investors dabbling in products linked to Bitcoin, adding that the highly volatile cryptocurrency is a commodity, "not a currency". Bitcoinsurged to $11,000 (£8,200) just 12 hours after passing the $10,000 markthis week, beforeplummeting by more than $2,000amid fears that it is a bubble that could soon burst. It is currently trading at $10,555. "Bitcoin is a commodity in my view, it's not a currency; it's not a fiat currency in any sense, it's a commodity," Mr Bailey toldBloombergon Friday afternoon. "Commodity prices go up and down. Bitcoin is currently enjoying a very sharp rise in its price but the history of Bitcoin pricing is very volatile." He added that the Financial Conduct Authority was not the regulator of cryptocurrencies but would step in when it comes to instruments linked to digital coins, such as cryptocurrency contracts for difference (CFDs) which let clients bet on the way a financial instrument will move. "Particularly when they're being marketed to retail investors. It's a concern, it's quite a big concern," he said. Firms are rushing to trade Bitcoin after it hit a fresh high this week, with Mr Bailey's comments coming hours after the world's largest exchange CME was given the all-clear to launch a bitcoin futures contract later this month. \|\| Bitcoin is a concern but not a currency, says City watchdog chief: City watchdog chief Andrew Bailey has flagged "big concern" for retail investors dabbling in products linked to Bitcoin, adding that the highly volatile cryptocurrency is a commodity, "not a currency". Bitcoinsurged to $11,000 (£8,200) just 12 hours after passing the $10,000 markthis week, beforeplummeting by more than $2,000amid fears that it is a bubble that could soon burst. It is currently trading at $10,555. "Bitcoin is a commodity in my view, it's not a currency; it's not a fiat currency in any sense, it's a commodity," Mr Bailey toldBloombergon Friday afternoon. "Commodity prices go up and down. Bitcoin is currently enjoying a very sharp rise in its price but the history of Bitcoin pricing is very volatile." He added that the Financial Conduct Authority was not the regulator of cryptocurrencies but would step in when it comes to instruments linked to digital coins, such as cryptocurrency contracts for difference (CFDs) which let clients bet on the way a financial instrument will move. "Particularly when they're being marketed to retail investors. It's a concern, it's quite a big concern," he said. Firms are rushing to trade Bitcoin after it hit a fresh high this week, with Mr Bailey's comments coming hours after the world's largest exchange CME was given the all-clear to launch a bitcoin futures contract later this month. \|\| What you need to know on Wall Street today: File Photo: Retired Army Lt. Gen. Michael Flynn, then-incoming White House national security adviser, speaks at the U.S. Institute of Peace Thomson Reuters Welcome to Finance Insider, Business Insider's summary of the top stories of the past 24 hours. Sign up here to get the best of Business Insider delivered direct to your inbox . Former national security adviser Michael Flynn is pleading guilty to lying to the FBI, and the plea deal indicates that he may be ready to flip on President Donald Trump . The latest development in the Russia investigation has roiled the markets — stocks took a dive on the report, and the Russian ruble is getting smoked. Treasurys are surging and gold is spiking . Rick Rieder, BlackRock's $1.7 trillion bond chief, thinks sleeping is a waste of time, so he wakes up at 3:30 every workday and gets right down to business. "Every day is truly insane," he tells Business Insider. Read more about his hellacious schedule and remarkable work ethic. Deutsche Bank's brand new head of emerging market fixed income sales in Europe is already out after only three months on the job . Nasdaq appears to be taking a step back in its foray into the world of big data, filing to withdraw four data products . Republicans leaders say they 'have the votes' to pass their massive tax bill , but a brutal new analysis shows the GOP tax bill would do little for US economic growth. Stocks could surge 25% if it passes, according to UBS. Here's what else is going on in the markets: Blue Apron is moving higher after naming a new CEO WHITE HOUSE: Cryptocurrencies are 'being monitored by our team' Bitcoin futures trading gets the green light from US regulators Bitcoin is gaining ground after futures trading gets approval from US regulators A handful of tech stocks have absolutely crushed FANG this year JPMORGAN: Here's what you should be reading, listening to, and visiting in 2018 The unofficial Goldman Sachs holiday gift guide for 2017 Lastly, here's what’s it’s like to party at Brooklyn’s wildest club — with all-night dance parties, gravity-defying performances, and crazy costumes. NOW WATCH: We talked to the chief investment strategist at $920 billion fund giant Invesco about where you should invest right now See Also: What you need to know on Wall Street today What you need to know on Wall Street today What you need to know on Wall Street today View comments \|\| What you need to know on Wall Street today: Thomson Reuters Welcome to Finance Insider, Business Insider's summary of the top stories of the past 24 hours. Sign uphere to get the best of Business Insider delivered direct to your inbox. Former national security adviser Michael Flynn is pleading guilty to lying to the FBI, and the plea deal indicates that he may beready to flip on President Donald Trump. The latest development in the Russia investigation has roiled the markets —stocks took a dive on the report,and the Russian rubleis getting smoked.Treasurysare surgingandgold is spiking. Rick Rieder, BlackRock's $1.7 trillion bond chief, thinks sleeping is a waste of time, so he wakes up at 3:30 every workday and gets right down to business."Every day is truly insane," he tells Business Insider.Read more about his hellacious schedule and remarkable work ethic. Deutsche Bank's brand new head of emerging market fixed income sales in Europeis already out after only three months on the job.Nasdaq appears to betaking a step backin its foray into the world of big data,filing to withdraw four data products. Republicans leaders say they'have the votes' to pass their massive tax bill, but abrutal new analysis showsthe GOP tax bill would do little for US economic growth.Stocks could surge 25%if it passes, according to UBS. Here's what else is going on in the markets: • Blue Apron is moving higher after naming a new CEO • WHITE HOUSE: Cryptocurrencies are 'being monitored by our team' • Bitcoin futures trading gets the green light from US regulators • Bitcoin is gaining ground after futures trading gets approval from US regulators • A handful of tech stocks have absolutely crushed FANG this year • JPMORGAN: Here's what you should be reading, listening to, and visiting in 2018 • The unofficial Goldman Sachs holiday gift guide for 2017 Lastly, here'swhat’s it’s like to party at Brooklyn’s wildest club— with all-night dance parties, gravity-defying performances, and crazy costumes. NOW WATCH:We talked to the chief investment strategist at $920 billion fund giant Invesco about where you should invest right now See Also: • What you need to know on Wall Street today • What you need to know on Wall Street today • What you need to know on Wall Street today \|\| Stocks tumble, gold spikes on report that Flynn is prepared to testify against Trump: Screen Shot 2017 12 01 at 1.30.51 PM Markets Insider Stocks fell sharply on Friday on an ABC News report that Michael Flynn would say President Donald Trump told him to contact Russians. Earlier Friday, Flynn was charged with one count of making false statements to federal investigators. He has pleaded guilty. Stocks rose to new highs this week as Senate Republicans advanced their tax bill, though news related to the Russia investigation has now overshadowed that in markets. US stocks fell in trading on Friday following an ABC News report that said Michael Flynn, the former national security adviser, would testify that President Donald Trump told him to contact Russians. The report, from ABC's Brian Ross , was not confirmed by other media outlets. ABC later clarified that Flynn would testify that Trump as president-elect directed him to make contact with Russians — not as a candidate. Flynn was charged earlier Friday with one count of making false statements to federal investigators. He has pleaded guilty and promised to cooperate with the special counsel Robert Mueller, who is leading an investigation into Russia's interference in the 2016 US election and whether members of Trump's campaign colluded with Russians. Ty Cobb, a White House lawyer, said in a statement that Flynn's guilty plea did not implicate anyone other than Flynn. Stocks had opened lower on Friday amid concerns about the Republican tax bill and its potential effect on the federal budget deficit. The market gained this week as Senate Republicans moved closer toward passing the bill — the chamber is expected to vote on it on Friday . But new details about the Russia investigation, which has dogged Trump's presidency over the past year, have overshadowed that progress and interrupted the rally for now. The Dow, off its worst levels of the intraday sell-off, was down 90 points, or 0.37%, to 24,182, at 1:31 p.m. ET. The S&P 500 was down 0.43%, to 2,636. "Ultimately, the market will look past the politics and focus on the positive economic fundamentals and benefits of tax reform, and this is what will lead markets higher after they've been knocked down in the short run," said Chris Zaccarelli, the chief investment officer at Independent Advisor Alliance. Story continues Other markets also reacted to the news. Treasurys rallied, sending the benchmark 10-year yield down by 9 basis points, to 2.322%. It was the biggest drop in the safe haven's yield in over six months, according to Bloomberg . Gold jumped 1.1%, or $15.20 an ounce, to $1,288.40. NOW WATCH: This is why you should be buying gold See Also: 2 Berkeley grads are using AI to make stock-buying decisions — and it could change investing forever MORGAN STANLEY: Everything keeping the market calm is about to get worse Holiday retailers are surging as online spending hits a record SEE ALSO: Bitcoin futures trading gets the green light from US regulators DON'T MISS: UBS: Stocks could surge 25% if the Republican tax bill passes \|\| Stocks tumble, gold spikes on report that Flynn is prepared to testify against Trump: Screen Shot 2017 12 01 at 1.30.51 PM Markets Insider Stocks fell sharply on Friday on an ABC News report that Michael Flynn would say President Donald Trump told him to contact Russians. Earlier Friday, Flynn was charged with one count of making false statements to federal investigators. He has pleaded guilty. Stocks rose to new highs this week as Senate Republicans advanced their tax bill, though news related to the Russia investigation has now overshadowed that in markets. US stocks fell in trading on Friday following an ABC News report that said Michael Flynn, the former national security adviser, would testify that President Donald Trump told him to contact Russians. The report, from ABC's Brian Ross , was not confirmed by other media outlets. ABC later clarified that Flynn would testify that Trump as president-elect directed him to make contact with Russians — not as a candidate. Flynn was charged earlier Friday with one count of making false statements to federal investigators. He has pleaded guilty and promised to cooperate with the special counsel Robert Mueller, who is leading an investigation into Russia's interference in the 2016 US election and whether members of Trump's campaign colluded with Russians. Ty Cobb, a White House lawyer, said in a statement that Flynn's guilty plea did not implicate anyone other than Flynn. Stocks had opened lower on Friday amid concerns about the Republican tax bill and its potential effect on the federal budget deficit. The market gained this week as Senate Republicans moved closer toward passing the bill — the chamber is expected to vote on it on Friday . But new details about the Russia investigation, which has dogged Trump's presidency over the past year, have overshadowed that progress and interrupted the rally for now. The Dow, off its worst levels of the intraday sell-off, was down 90 points, or 0.37%, to 24,182, at 1:31 p.m. ET. The S&P 500 was down 0.43%, to 2,636. "Ultimately, the market will look past the politics and focus on the positive economic fundamentals and benefits of tax reform, and this is what will lead markets higher after they've been knocked down in the short run," said Chris Zaccarelli, the chief investment officer at Independent Advisor Alliance. Story continues Other markets also reacted to the news. Treasurys rallied, sending the benchmark 10-year yield down by 9 basis points, to 2.322%. It was the biggest drop in the safe haven's yield in over six months, according to Bloomberg . Gold jumped 1.1%, or $15.20 an ounce, to $1,288.40. NOW WATCH: This is why you should be buying gold See Also: 2 Berkeley grads are using AI to make stock-buying decisions — and it could change investing forever MORGAN STANLEY: Everything keeping the market calm is about to get worse Holiday retailers are surging as online spending hits a record SEE ALSO: Bitcoin futures trading gets the green light from US regulators DON'T MISS: UBS: Stocks could surge 25% if the Republican tax bill passes \|\| U.S. regulator to allow CME, CBOE to list bitcoin futures: By Michelle Price and John McCrank WASHINGTON (Reuters) - The main U.S. derivatives regulator said on Friday it would allow CME Group Inc and CBOE Global Markets Inc to list bitcoin futures contracts, opening the door to added regulation and more mainstream adoption of the cryptocurrency. The announcement by the Commodity Futures Trading Commission paves the way for CME and CBOE to become the first traditional U.S. regulated exchanges where bitcoin-related financial contracts can trade. CME, the world's largest derivatives exchange, said it would list its bitcoin futures contract on Dec. 18. CBOE said it would set a launch date in the near future. Both contracts will be priced against and settled in the cash bitcoin market. The bitcoin underlying the futures contracts will still be traded on lightly regulated over-the-counter markets. Still, putting futures contracts on highly scrutinized U.S. exchanges could convince other regulators to allow more cryptocurrency-derived products such as exchange-traded funds. So far, the U.S. Securities and Exchange Commission has not allowed bitcoin-based ETFs on the CBOE or elsewhere, partly because of concerns around the unregulated aspect of bitcoin. CBOE will return to the SEC with its ETF application as liquidity builds in futures contracts and the exchanges demonstrate how their oversight of the underlying market works, the exchange operator's Chief Executive Officer Ed Tilly said in an interview. "I would anticipate then youll see a great many applications for notes and funds that are tracking or holding crypto" currencies, he said. CFTC Chairman Christopher Giancarlo warned investors that the nascent underlying bitcoin cash markets remained largely unregulated and mostly beyond the commission's purview. The futures exchanges must coordinate to help spot market manipulation, flash rallies, trading outages and other problems on the unregulated exchanges where bitcoin is traded, he said in a statement. "Nevertheless," Giancarlo added, "investors should be aware of the potentially high level of volatility and risk in trading these contracts. CME and CBOE have agreed to enter into information-sharing agreements and send the CFTC data on the settlement process so the regulator can conduct its own surveillance. Bitcoin's price has soared tenfold this year, but many market participants warned of a bubble this week as it topped $11,000 for the first time. To guard against volatility, CME and CBOE will enact stricter-than-usual risk-management safeguards, including initial margin requirements of 35 percent to 40 percent. Story continues The virtual currency, which before the news had been trading at around $10,150 on the Luxembourg-based Bitstamp exchange, jumped to as high as $10,513 in the minutes that followed, up more than 5 percent on the day. It was last up 6.6 percent at $10,600. "This is a tacit approval for the industry as a whole; digital assets are now mainstream," said Charles Hayter, CEO of cryptocurrency platform CryptoCompare. Under CFTC regulations, designated contract exchanges such as CME and CBOE's CFE do not need the commission's prior approval to list products for trading. They need only file a written self-certification with the regulator. Under self-certification, a quirk of the futures market, an exchange confirms that the product complies with the Commodity Exchange Act and CFTC regulations, including that the contract is not susceptible to manipulation. CME has been vying with CBOE to introduce the first bitcoin-related financial product. Nasdaq Inc also plans to list a futures contract based on bitcoin in 2018, Reuters reported this week. (Reporting by Michelle Price and John McCrank; Additional reporting by Jemima Kelly and Gertrude Chavez-Dreyfuss; Editing by Leslie Adler, Lisa Von Ahn and David Gregorio) View comments \|\| U.S. regulator to allow CME, CBOE to list bitcoin futures: By Michelle Price and John McCrank WASHINGTON (Reuters) - The main U.S. derivatives regulator said on Friday it would allow CME Group Inc and CBOE Global Markets Inc to list bitcoin futures contracts, opening the door to added regulation and more mainstream adoption of the cryptocurrency. The announcement by the Commodity Futures Trading Commission paves the way for CME and CBOE to become the first traditional U.S. regulated exchanges where bitcoin-related financial contracts can trade. CME, the world's largest derivatives exchange, said it would list its bitcoin futures contract on Dec. 18. CBOE said it would set a launch date in the near future. Both contracts will be priced against and settled in the cash bitcoin market. The bitcoin underlying the futures contracts will still be traded on lightly regulated over-the-counter markets. Still, putting futures contracts on highly scrutinized U.S. exchanges could convince other regulators to allow more cryptocurrency-derived products such as exchange-traded funds. So far, the U.S. Securities and Exchange Commission has not allowed bitcoin-based ETFs on the CBOE or elsewhere, partly because of concerns around the unregulated aspect of bitcoin. CBOE will return to the SEC with its ETF application as liquidity builds in futures contracts and the exchanges demonstrate how their oversight of the underlying market works, the exchange operator's Chief Executive Officer Ed Tilly said in an interview. "I would anticipate then youll see a great many applications for notes and funds that are tracking or holding crypto" currencies, he said. CFTC Chairman Christopher Giancarlo warned investors that the nascent underlying bitcoin cash markets remained largely unregulated and mostly beyond the commission's purview. The futures exchanges must coordinate to help spot market manipulation, flash rallies, trading outages and other problems on the unregulated exchanges where bitcoin is traded, he said in a statement. "Nevertheless," Giancarlo added, "investors should be aware of the potentially high level of volatility and risk in trading these contracts. CME and CBOE have agreed to enter into information-sharing agreements and send the CFTC data on the settlement process so the regulator can conduct its own surveillance. Bitcoin's price has soared tenfold this year, but many market participants warned of a bubble this week as it topped $11,000 for the first time. To guard against volatility, CME and CBOE will enact stricter-than-usual risk-management safeguards, including initial margin requirements of 35 percent to 40 percent. The virtual currency, which before the news had been trading at around $10,150 on the Luxembourg-based Bitstamp exchange, jumped to as high as $10,513 in the minutes that followed, up more than 5 percent on the day. It was last up 6.6 percent at $10,600. "This is a tacit approval for the industry as a whole; digital assets are now mainstream," said Charles Hayter, CEO of cryptocurrency platform CryptoCompare. Under CFTC regulations, designated contract exchanges such as CME and CBOE's CFE do not need the commission's prior approval to list products for trading. They need only file a written self-certification with the regulator. Under self-certification, a quirk of the futures market, an exchange confirms that the product complies with the Commodity Exchange Act and CFTC regulations, including that the contract is not susceptible to manipulation. CME has been vying with CBOE to introduce the first bitcoin-related financial product. Nasdaq Inc also plans to list a futures contract based on bitcoin in 2018, Reuters reported this week. (Reporting by Michelle Price and John McCrank; Additional reporting by Jemima Kelly and Gertrude Chavez-Dreyfuss; Editing by Leslie Adler, Lisa Von Ahn and David Gregorio) [Social Media Buzz] Black bitcoin - $0.00 #Items4Sale List ur biz at http://blacktradelines.com \|\| El valor actual del Bitcoin es de 11090.00$ https://goo.gl/2g1mWT pic.twitter.com/JnNkpU26Kg \|\| La cotización actual del bitcoin es de 10935.00$ http://ift.tt/2zJJXx9 \|\| Dec 02, 2017 18:00:00 UTC \| 10,893.20$ \| 9,159.40€ \| 8,084.80£ \| #Bitcoin #btc pic.twitter.com/L8xDRDFPR6 \|\| RT @iGeauWeb: Ripple: $XRP $0.26 SUPPLY 38,622,870,411.00 TRADE VOLUME(BTC) 2,466,087,815.7124hr TRADE VOLUME(USD) $179,064,000.0024hr MARKE...	11323.20, 11657.20, 11916.70, 14291.50, 17899.70, 16569.40, 15178.20, 15455.40, 16936.80, 17415.40
Given the historical Bitcoin prices from the last 90 days, predict the next 10 daily closing prices. The historical prices are: 5314.53, 5399.37, 5572.36, 5464.87, 5210.52, 5279.35, 5268.29, 5285.14, 5247.35, 5350.73, 5402.70, 5505.28, 5768.29, 5831.17, 5795.71, 5746.81, 5829.50, 5982.46, 6174.53, 6378.85, 7204.77, 6972.37, 7814.92, 7994.42, 8205.17, 7884.91, 7343.90, 7271.21, 8197.69, 7978.31, 7963.33, 7680.07, 7881.85, 7987.37, 8052.54, 8673.22, 8805.78, 8719.96, 8659.49, 8319.47, 8574.50, 8564.02, 8742.96, 8209.00, 7707.77, 7824.23, 7822.02, 8043.95, 7954.13, 7688.08, 8000.33, 7927.71, 8145.86, 8230.92, 8693.83, 8838.38, 8994.49, 9320.35, 9081.76, 9273.52, 9527.16, 10144.56, 10701.69, 10855.37, 11011.10, 11790.92, 13016.23, 11182.81, 12407.33, 11959.37, 10817.16, 10583.13, 10801.68, 11961.27, 11215.44, 10978.46, 11208.55, 11450.85, 12285.96, 12573.81, 12156.51, 11358.66, 11815.99, 11392.38, 10256.06, 10895.09, 9477.64, 9693.80, 10666.48, 10530.73.	[Bitcoin Technical Analysis for 2019-07-19] Volume: 20727426310, RSI (14-day): 48.72, 50-day EMA: 10075.77, 200-day EMA: 7329.01 [Wider Market Context] Gold Price: 1425.10, Gold RSI: 67.96 Oil Price: 55.63, Oil RSI: 42.42 [Recent News (last 7 days)] Is alt-season finally here? Bitcoin falls as altcoins rally: Ever since the bear market reversal at the start of 2019, cryptocurrency speculators have been calling for a long-awaited ‘alt-season’. An alt-season is when altcoins rally in the market while Bitcoin moves sideways or to the downside. Altcoins have suffered during Bitcoin’s surge from $3,150 to above $10,000 this year, with several of the top coins including Litecoin, XRP, EOS, and Bitcoin Cash all falling heavily against Bitcoin. However, fresh off the back of another 6% drop in the value of Bitcoin, altcoins have bounced off monthly lows. Dominance Litecoin led the charge with a 23% bounce off $76 before finding support at around $90. The robust ChainLink token also performed well, rising more than 15% in USD and 27% against Bitcoin. Three days ago, Bitcoin dominance tapped 70% before falling back to 67%. This indicates that a further surge in altcoins could be on the cards. The ideal scenario for those begging for an alt-season would be if Bitcoin finds support and consolidates in the current $9,200 to $9,600 range. If Bitcoin breaks support at $9,200 and moves into the mid-$8,000 range, altcoins could again suffer as fear would re-enter the market. While most altcoins have been rallying, Bitfinex’s LEO token has taken a further tumble to the downside with a drop to as low as $1.27 – a far cry from its price just three weeks ago when it touched $1.99. For more news, guides, and cryptocurrency analysis, click here . The post Is alt-season finally here? Bitcoin falls as altcoins rally appeared first on Coin Rivet . \|\| Is alt-season finally here? Bitcoin falls as altcoins rally: Ever since the bear market reversal at the start of 2019, cryptocurrency speculators have been calling for a long-awaited ‘alt-season’. An alt-season is when altcoins rally in the market while Bitcoin moves sideways or to the downside. Altcoins have suffered during Bitcoin’s surge from $3,150 to above $10,000 this year, with several of the top coins including Litecoin, XRP, EOS, and Bitcoin Cash all falling heavily against Bitcoin. However, fresh off the back of another 6% drop in the value of Bitcoin, altcoins have bounced off monthly lows. Dominance Litecoin led the charge with a 23% bounce off $76 before finding support at around $90. The robust ChainLink token also performed well, rising more than 15% in USD and 27% against Bitcoin. Three days ago, Bitcoin dominance tapped 70% before falling back to 67%. This indicates that a further surge in altcoins could be on the cards. The ideal scenario for those begging for an alt-season would be if Bitcoin finds support and consolidates in the current $9,200 to $9,600 range. If Bitcoin breaks support at $9,200 and moves into the mid-$8,000 range, altcoins could again suffer as fear would re-enter the market. While most altcoins have been rallying, Bitfinex’s LEO token has taken a further tumble to the downside with a drop to as low as $1.27 – a far cry from its price just three weeks ago when it touched $1.99. For more news, guides, and cryptocurrency analysis, click here . The post Is alt-season finally here? Bitcoin falls as altcoins rally appeared first on Coin Rivet . \|\| Is alt-season finally here? Bitcoin falls as altcoins rally: Ever since the bear market reversal at the start of 2019, cryptocurrency speculators have been calling for a long-awaited ‘alt-season’. An alt-season is when altcoins rally in the market while Bitcoin moves sideways or to the downside. Altcoins have suffered during Bitcoin’s surge from $3,150 to above $10,000 this year, with several of the top coins including Litecoin, XRP, EOS, and Bitcoin Cash all falling heavily against Bitcoin. However, fresh off the back of another 6% drop in the value of Bitcoin, altcoins have bounced off monthly lows. Dominance Litecoin led the charge with a 23% bounce off $76 before finding support at around $90. The robust ChainLink token also performed well, rising more than 15% in USD and 27% against Bitcoin. Three days ago, Bitcoin dominance tapped 70% before falling back to 67%. This indicates that a further surge in altcoins could be on the cards. The ideal scenario for those begging for an alt-season would be if Bitcoin finds support and consolidates in the current $9,200 to $9,600 range. If Bitcoin breaks support at $9,200 and moves into the mid-$8,000 range, altcoins could again suffer as fear would re-enter the market. While most altcoins have been rallying, Bitfinex’s LEO token has taken a further tumble to the downside with a drop to as low as $1.27 – a far cry from its price just three weeks ago when it touched $1.99. For more news, guides, and cryptocurrency analysis, click here . The post Is alt-season finally here? Bitcoin falls as altcoins rally appeared first on Coin Rivet . \|\| Bitcoin Ransomware That Infiltrated 100 US Enterprises Spreads to China: A ransomware virus that has successfully infiltrated more than 100 government and private enterprises in the U.S. and internationally has been detected in China, according to a recent Tencent Securityreport. Dubbed Ryuk, the pernicious code targets “logistics companies, technology companies and small municipalities” with high data value, demanding bounties upward of $5 million paid in bitcoin, according to the Federal Bureau of Investigation (FBI). In January, Ryuk was thought to be behind a hack of Tribune Publishing, affecting all of the media conglomerate’s outlets. In June, officials in Lake City, Florida paid out a $460,000 ransom after the city’s computer systems went dark. This was two weeks after Riviera Beach, Florida’s $600,000 hijacking. Related:New Monero Botnet Looks Like Last Year’s Outlaw Attack Ryuk is thought to be a modified version of the Hermes virus, which debuted in August 2018. It spreads through the usual botnet and spam methods, and infiltrates through undefended IP ports. Once installed, the malicious malware deletes all files related to the intrusion, and kills antivirus processes, thereby obscuring the infection vector. In one case, however, FBI agents found evidence Ryuk entered through a Remote Desktop Protocols brute force attack. The agency wrote in aFlash: “After the attacker has gained access to the victim network, additional network exploitation tools may be downloaded… once executed, Ryuk establishes persistence in the registry, injects into running processes, looks for network connected file systems, and begins encrypting files.” Related:Malware Crypto Ransoms Rose By Almost 90% in Q1: Report The virus also drops a “RyukReadMe” file that opens the blackmail letter on the victim’s internet browser. The html webpage lists only the two hacker’s email addresses in the upper left hand corner, the name of the virus in the center of the page, and the cryptic phrase “balance of shadow universe” in the bottom right corner. The FBI has been tracking the virus since 2018 and have noticed a number of modifications. It’s reported the Chinese variant simultaneously runs a 32-bit and 64-bit blackmail module, which may enable further evolution of the bug. It is has not been disclosed how many Chinese enterprises have been infected as of press time, or the total amount the hackers have ransomed. Tencent did not return a request for comment regarding this article. Hackerimage via Shutterstock • PayPal Wins Patent for Way to Defend Against Crypto Ransomware • Fake MetaMask App on Google Play Store Hosted Crypto Malware \|\| Bitcoin Ransomware That Infiltrated 100 US Enterprises Spreads to China: A ransomware virus that has successfully infiltrated more than 100 government and private enterprises in the U.S. and internationally has been detected in China, according to a recent Tencent Security report . Dubbed Ryuk, the pernicious code targets logistics companies, technology companies and small municipalities with high data value, demanding bounties upward of $5 million paid in bitcoin, according to the Federal Bureau of Investigation (FBI). In January, Ryuk was thought to be behind a hack of Tribune Publishing, affecting all of the media conglomerates outlets. In June, officials in Lake City, Florida paid out a $460,000 ransom after the citys computer systems went dark. This was two weeks after Riviera Beach, Floridas $600,000 hijacking. Related: New Monero Botnet Looks Like Last Years Outlaw Attack Ryuk is thought to be a modified version of the Hermes virus, which debuted in August 2018. It spreads through the usual botnet and spam methods, and infiltrates through undefended IP ports. Once installed, the malicious malware deletes all files related to the intrusion, and kills antivirus processes, thereby obscuring the infection vector. In one case, however, FBI agents found evidence Ryuk entered through a Remote Desktop Protocols brute force attack. The agency wrote in a Flash : After the attacker has gained access to the victim network, additional network exploitation tools may be downloaded once executed, Ryuk establishes persistence in the registry, injects into running processes, looks for network connected file systems, and begins encrypting files. Related: Malware Crypto Ransoms Rose By Almost 90% in Q1: Report The virus also drops a RyukReadMe file that opens the blackmail letter on the victims internet browser. The html webpage lists only the two hackers email addresses in the upper left hand corner, the name of the virus in the center of the page, and the cryptic phrase balance of shadow universe in the bottom right corner. Story continues The FBI has been tracking the virus since 2018 and have noticed a number of modifications. Its reported the Chinese variant simultaneously runs a 32-bit and 64-bit blackmail module, which may enable further evolution of the bug. It is has not been disclosed how many Chinese enterprises have been infected as of press time, or the total amount the hackers have ransomed. Tencent did not return a request for comment regarding this article. Hacker image via Shutterstock Related Stories PayPal Wins Patent for Way to Defend Against Crypto Ransomware Fake MetaMask App on Google Play Store Hosted Crypto Malware \|\| Bitcoin Ransomware That Infiltrated 100 US Enterprises Spreads to China: A ransomware virus that has successfully infiltrated more than 100 government and private enterprises in the U.S. and internationally has been detected in China, according to a recent Tencent Securityreport. Dubbed Ryuk, the pernicious code targets “logistics companies, technology companies and small municipalities” with high data value, demanding bounties upward of $5 million paid in bitcoin, according to the Federal Bureau of Investigation (FBI). In January, Ryuk was thought to be behind a hack of Tribune Publishing, affecting all of the media conglomerate’s outlets. In June, officials in Lake City, Florida paid out a $460,000 ransom after the city’s computer systems went dark. This was two weeks after Riviera Beach, Florida’s $600,000 hijacking. Related:New Monero Botnet Looks Like Last Year’s Outlaw Attack Ryuk is thought to be a modified version of the Hermes virus, which debuted in August 2018. It spreads through the usual botnet and spam methods, and infiltrates through undefended IP ports. Once installed, the malicious malware deletes all files related to the intrusion, and kills antivirus processes, thereby obscuring the infection vector. In one case, however, FBI agents found evidence Ryuk entered through a Remote Desktop Protocols brute force attack. The agency wrote in aFlash: “After the attacker has gained access to the victim network, additional network exploitation tools may be downloaded… once executed, Ryuk establishes persistence in the registry, injects into running processes, looks for network connected file systems, and begins encrypting files.” Related:Malware Crypto Ransoms Rose By Almost 90% in Q1: Report The virus also drops a “RyukReadMe” file that opens the blackmail letter on the victim’s internet browser. The html webpage lists only the two hacker’s email addresses in the upper left hand corner, the name of the virus in the center of the page, and the cryptic phrase “balance of shadow universe” in the bottom right corner. The FBI has been tracking the virus since 2018 and have noticed a number of modifications. It’s reported the Chinese variant simultaneously runs a 32-bit and 64-bit blackmail module, which may enable further evolution of the bug. It is has not been disclosed how many Chinese enterprises have been infected as of press time, or the total amount the hackers have ransomed. Tencent did not return a request for comment regarding this article. Hackerimage via Shutterstock • PayPal Wins Patent for Way to Defend Against Crypto Ransomware • Fake MetaMask App on Google Play Store Hosted Crypto Malware \|\| Bitcoin mining rig prices are soaring: Getting your hands on aBitcoinminer inChinathese days is challenging. Official websites areout of stock. Second-hand mining machines that were once sold as scrap metal are againpopular, and increasingly expensive. Andaccording to Chinese media, equipment prices are only going to go up. The increased activity is evident in the surge in Bitcoin’s overall network computing power, which reached a new high,65EH/s, today. Zhang Wencheng, director of sales at Shenma Mining Machinery, told Chinese news siteBlockchainthat he predicts it will reach over 100 EH/s by the end of this year. China’s miners reportedly supply around60 percentof Bitcoin miners thoughsome thinkthe actual number could be even higher. But while so much mining power lies in this vast nation due to its abundant reserves of hydroelectric energy, miners are still reliant on the availability of equipment, which itself depends on market forces that are outside their control. The scarcity of rigs shouldn’t affect the supply of Bitcoin or make the network slower or less secure, saidKristy-Leigh Minehan, Chief Technology Officer at blockchain and AI company, Core Scientific. “It will ‘average out. All that matters is ‘relative’ hashrate.” “The effect of rigs being in short supply means that new entrants that come into the market will not be able to participate.” The root cause of the current scarcity is insufficient production capacity, Yang Zuxing, founder of equipment manufacturer Shenma Mining MachinerytoldBlockchain. A chipmaker such as the Taiwan Semiconductor Manufacturing Company receives plenty of orders from large factories such as Apple, Qualcomm and AMD. It has limited capacity so the order of production depends on the size of each order. The smaller quantities needed by miners’ rigs means they are pushed to the back of the line. And as the era of 5G and AI approaches—with a corresponding need for more specialist chips—things will get even worse for manufacturers of mining equipment. The contrast to the situation six months ago, when the mining machine market was still in adepression, is great. In December, Bitcoin mining rigs were reportedly selling for scrap metal prices. A second-hand Antminer S9—one of the most popular older machines, and not optimized for energy efficiency—couldn’t fetch 600 yuan ($87.) Now, according to oneBlockchainminerinterviewee, it can command five times as much. Old equipment is better than none. But Bitcoin’s mining difficulty has also reached anall-time peak, on the back of the recent price surge. That means competition for block rewards between miners has never been higher. And the more powerful, newer, more energy efficient equipment is what’s needed to solve the increasingly difficult calculations to win block rewards. \|\| Bitcoin mining rig prices are soaring: Getting your hands on aBitcoinminer inChinathese days is challenging. Official websites areout of stock. Second-hand mining machines that were once sold as scrap metal are againpopular, and increasingly expensive. Andaccording to Chinese media, equipment prices are only going to go up. The increased activity is evident in the surge in Bitcoin’s overall network computing power, which reached a new high,65EH/s, today. Zhang Wencheng, director of sales at Shenma Mining Machinery, told Chinese news siteBlockchainthat he predicts it will reach over 100 EH/s by the end of this year. China’s miners reportedly supply around60 percentof Bitcoin miners thoughsome thinkthe actual number could be even higher. But while so much mining power lies in this vast nation due to its abundant reserves of hydroelectric energy, miners are still reliant on the availability of equipment, which itself depends on market forces that are outside their control. The scarcity of rigs shouldn’t affect the supply of Bitcoin or make the network slower or less secure, saidKristy-Leigh Minehan, Chief Technology Officer at blockchain and AI company, Core Scientific. “It will ‘average out. All that matters is ‘relative’ hashrate.” “The effect of rigs being in short supply means that new entrants that come into the market will not be able to participate.” The root cause of the current scarcity is insufficient production capacity, Yang Zuxing, founder of equipment manufacturer Shenma Mining MachinerytoldBlockchain. A chipmaker such as the Taiwan Semiconductor Manufacturing Company receives plenty of orders from large factories such as Apple, Qualcomm and AMD. It has limited capacity so the order of production depends on the size of each order. The smaller quantities needed by miners’ rigs means they are pushed to the back of the line. And as the era of 5G and AI approaches—with a corresponding need for more specialist chips—things will get even worse for manufacturers of mining equipment. The contrast to the situation six months ago, when the mining machine market was still in adepression, is great. In December, Bitcoin mining rigs were reportedly selling for scrap metal prices. A second-hand Antminer S9—one of the most popular older machines, and not optimized for energy efficiency—couldn’t fetch 600 yuan ($87.) Now, according to oneBlockchainminerinterviewee, it can command five times as much. Old equipment is better than none. But Bitcoin’s mining difficulty has also reached anall-time peak, on the back of the recent price surge. That means competition for block rewards between miners has never been higher. And the more powerful, newer, more energy efficient equipment is what’s needed to solve the increasingly difficult calculations to win block rewards. \|\| Bitcoin mining rig prices are soaring: Getting your hands on a Bitcoin miner in China these days is challenging. Official websites are out of stock . Second-hand mining machines that were once sold as scrap metal are again popular , and increasingly expensive. And according to Chinese media , equipment prices are only going to go up. The increased activity is evident in the surge in Bitcoins overall network computing power, which reached a new high, 65EH/s , today. Zhang Wencheng, director of sales at Shenma Mining Machinery, told Chinese news site Blockchain that he predicts it will reach over 100 EH/s by the end of this year. Decrypt guide: the most profitable cryptocurrencies to mine right now Chinas miners reportedly supply around 60 percent of Bitcoin miners though some think the actual number could be even higher. But while so much mining power lies in this vast nation due to its abundant reserves of hydroelectric energy, miners are still reliant on the availability of equipment, which itself depends on market forces that are outside their control. The scarcity of rigs shouldnt affect the supply of Bitcoin or make the network slower or less secure, said Kristy-Leigh Minehan , Chief Technology Officer at blockchain and AI company, Core Scientific. It will average out. All that matters is relative hashrate. The effect of rigs being in short supply means that new entrants that come into the market will not be able to participate. The root cause of the current scarcity is insufficient production capacity, Yang Zuxing, founder of equipment manufacturer Shenma Mining Machinery told Blockchain . A chipmaker such as the Taiwan Semiconductor Manufacturing Company receives plenty of orders from large factories such as Apple, Qualcomm and AMD. It has limited capacity so the order of production depends on the size of each order. The smaller quantities needed by miners rigs means they are pushed to the back of the line. And as the era of 5G and AI approacheswith a corresponding need for more specialist chipsthings will get even worse for manufacturers of mining equipment. Nine things nobody tells you about mining crypto The contrast to the situation six months ago, when the mining machine market was still in a depression , is great. In December, Bitcoin mining rigs were reportedly selling for scrap metal prices. A second-hand Antminer S9one of the most popular older machines, and not optimized for energy efficiencycouldnt fetch 600 yuan ($87.) Now, according to one Blockchain miner interviewee , it can command five times as much. Story continues Old equipment is better than none. But Bitcoins mining difficulty has also reached an all-time peak , on the back of the recent price surge. That means competition for block rewards between miners has never been higher. And the more powerful, newer, more energy efficient equipment is whats needed to solve the increasingly difficult calculations to win block rewards. View comments \|\| Bitcoin dips below $12,000 as market sees red: The bitcoin price rise has hit another roadblock. Bitcoin broke through the $13,000 barrier yesterday, for the second time in 16 days. This gave hope to traders who felt things were heading towards the highs of the 2017 bull run. However, it was short lived. Within a few hours, $46 billion-worth of damage was dealt to the overall cryptocurrency market, with the majority of tokens falling across the board. Today, most of them took another hit, with many facing losses of 10-20 percent over the last 24 hours. What are we to make of this? At a time of largely positive sentiment for the expanding cryptocurrency markets, such a sharp loss could be a hammer blow to investor confidence. However, many remain bullishsome have concerns elsewhere. One factor could be that an increasing number of tethers is being minted a phenomenon which coincided with Bitcoins price climbing from $8,500 to $11,000 in June. Tether fraud is just the tip of the iceberg, says crypto intelligence firm CipherTrace On the flip sideas usuala few tokens have gone against the grain. One of them is Crypto.com Chain, which used to be called Monacowhich offers crypto debit cards to users who stake CRO token. The token is on a tear recently. Its doubled in value this month and is up 20 percent in the last 24 hours. Crypto.com Chain was recently listed on Bittrex and Upbit, two exchanges that are in the top 50 by trading volume. It also added dollar payments and rolled out to more users in April, which could have laid the groundwork for this latest price surge. The sudden downturn also led to an increase in trading volume across the market for the majority of exchanges. Binance saw an uptick in trading activity of 66 percent, while OKEx saw traffic almost double within 24 hours. But overall, the market isnt looking happy. And if thats not bad enough, Bitfinex has gone into unscheduled maintenance a dire sign. \|\| Bitcoin dips below $12,000 as market sees red: The bitcoin price rise has hit another roadblock. Bitcoinbroke through the $13,000 barrier yesterday, for the second time in 16 days. This gave hope to traders who felt things were heading towards the highs of the 2017 bull run. However, it was short lived. Within a few hours,$46 billion-worthof damage was dealt to the overall cryptocurrency market, with the majority of tokens falling across the board. Today, most of them took another hit, with many facing losses of 10-20 percent over the last 24 hours. What are we to make of this? At a time of largely positive sentiment for the expanding cryptocurrency markets, such a sharp loss could be a hammer blow to investor confidence. However, many remain bullish—some have concerns elsewhere. One factor could be that an increasingnumber of “tethers” is being minted—a phenomenon which coincided with Bitcoin’s price climbing from $8,500 to $11,000 in June. Tether “fraud” is just the tip of the iceberg, says crypto intelligence firm CipherTrace On the flip side—as usual—a few tokens have gone against the grain. One of them is “Crypto.com Chain,” which used to be called Monaco—which offers crypto debit cards to users who stake CRO token. The token is on a tear recently. It’s doubled in value this month and is up 20 percent in the last 24 hours. Crypto.com Chain was recently listed on Bittrex and Upbit, two exchanges that are in the top 50 by trading volume. It also added dollar payments and rolled out to more users in April, which could have laid the groundwork for this latest price surge. The sudden downturn also led to an increase in trading volume across the market for the majority of exchanges. Binance saw an uptick in trading activity of 66 percent, while OKEx saw traffic almost double within 24 hours. But overall, the market isn’t looking happy. And if that’s not bad enough, Bitfinex has gone intounscheduled maintenance—a dire sign. \|\| Bitcoin dips below $12,000 as market sees red: The bitcoin price rise has hit another roadblock. Bitcoinbroke through the $13,000 barrier yesterday, for the second time in 16 days. This gave hope to traders who felt things were heading towards the highs of the 2017 bull run. However, it was short lived. Within a few hours,$46 billion-worthof damage was dealt to the overall cryptocurrency market, with the majority of tokens falling across the board. Today, most of them took another hit, with many facing losses of 10-20 percent over the last 24 hours. What are we to make of this? At a time of largely positive sentiment for the expanding cryptocurrency markets, such a sharp loss could be a hammer blow to investor confidence. However, many remain bullish—some have concerns elsewhere. One factor could be that an increasingnumber of “tethers” is being minted—a phenomenon which coincided with Bitcoin’s price climbing from $8,500 to $11,000 in June. Tether “fraud” is just the tip of the iceberg, says crypto intelligence firm CipherTrace On the flip side—as usual—a few tokens have gone against the grain. One of them is “Crypto.com Chain,” which used to be called Monaco—which offers crypto debit cards to users who stake CRO token. The token is on a tear recently. It’s doubled in value this month and is up 20 percent in the last 24 hours. Crypto.com Chain was recently listed on Bittrex and Upbit, two exchanges that are in the top 50 by trading volume. It also added dollar payments and rolled out to more users in April, which could have laid the groundwork for this latest price surge. The sudden downturn also led to an increase in trading volume across the market for the majority of exchanges. Binance saw an uptick in trading activity of 66 percent, while OKEx saw traffic almost double within 24 hours. But overall, the market isn’t looking happy. And if that’s not bad enough, Bitfinex has gone intounscheduled maintenance—a dire sign. \|\| Facebook Crypto Plans in Doubt, Blockchain ETFs in Focus: After having the best one-month rally in May since the token’s monumental jump in 2017, bitcoin again came under pressure. In the past five days (as of Jul 17, 2019), the cryptocurrency lost about 17.7%, while it is up 153.5% this year. What Led to The Recent Plunge? Bitcoin fell below $10,000 after the U.S. lawmakers interrogated Facebook (FB) on its cryptocurrency plans, especially on privacy- and trust-related issues. Traders said the reason for selling was not immediately clear, but severe political and regulatory scrutiny of digital coins probably led to a downslide in shares. Even President Doland Trump seems to be against the project, as he said Facebook’s digital currency “will have little standing or dependability.” The social media giant is striving to get Washington’s support on its crypto plan. In fact, Facebook startled the investing world, regulators and lawmakers on Jun 18 with its announcement of launching its own digital coin called Libra in 2020, per Reuters. It is now being believed that Facebook will have a tough time to get Senate’s approval. “During the hearing, a U.S. senator said Facebook was “delusional” to believe people will trust it with their money,” was quoted on Reuters. Facebook’s announcement contributed to a meaningful crypto rally in late June when bitcoin prices touched the $13,800-mark. Such pressure from regulators is not new to bitcoin. The SEC hasn’t said yes to any ETF launch proposal on bitcoins so far. SEC is worried about its extreme price volatility in cryptocurrencies and liquidity in bitcoin-related funds. Per Reuters, the virtual currency can be deployed to quickly move money anywhere in the world without any central authority’s intervention, such as a bank or government. The market is pretty unregulated at the current level (read: Yet Another SEC Disapproval for Bitcoin ETF: What Next?). Several central banks issued warnings against it. A number of global central banks are worried that Facebook’s proposed Libra’s entrance could weaken their sovereign currencies. Story continues What Lies Ahead? Though Facebook’s crypto plans could be tossed aside by regulators, the sheer discussion about cryptocurrencies in Congress would give the currency more recognition, which in turn could prove to be a positive for the industry, per some market watchers. CEO at Crypto.com noted that Facebook would resort to some other way to seize this incredible opportunity in an acceptable way. If Libra fails to make it to the market, some forms of investments and M&A could be in the cards for Facebook. Any ETF Alternatives to Play Bitcoin? If you are not sure about the imminent move in bitcoins, you can always tap blockchain ETFs to tap the booming prospects in the space. Blockchains are related but more stable investing options. Per a source, “the blockchain in Bitcoin literally acts a ledger; it keeps track of the balances for all users and updates them as money changes hands.” So, if investors cannot lay their hands on a bitcoin ETF now, they can definitely familiarize themselves with the concept through blockchain ETFs like Reality Shares Nasdaq NexGen Economy ETF BLCN, Amplify Transformational Data Sharing ETF BLOK and First Trust Indxx Innovative Transaction & Process ETF LEGR. Unlike bitcoin’s massive losses, these three funds lost in the range of 0.6% to 1% in the past five days (as of Jul 17, 2019). Want key ETF info delivered straight to your inbox? Zacks’ free Fund Newsletter will brief you on top news and analysis, as well as top-performing ETFs, each week. Get it free >> Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Amplify Transformational Data Sharing ETF (BLOK): ETF Research Reports First Trust Indxx Innovative Transaction & Process ETF (LEGR): ETF Research Reports Reality Shares Nasdaq NexGen Economy ETF (BLCN): ETF Research Reports To read this article on Zacks.com click here. Zacks Investment Research Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report \|\| Facebook Crypto Plans in Doubt, Blockchain ETFs in Focus: After having the best one-month rally in May since the token’s monumental jump in 2017, bitcoin again came under pressure. In the past five days (as of Jul 17, 2019), the cryptocurrency lost about 17.7%, while it is up 153.5% this year. What Led to The Recent Plunge? Bitcoin fell below $10,000 after the U.S. lawmakers interrogated Facebook (FB) on its cryptocurrency plans, especially on privacy- and trust-related issues. Traders said the reason for selling was not immediately clear, but severe political and regulatory scrutiny of digital coins probably led to a downslide in shares. Even President Doland Trump seems to be against the project, as he said Facebook’s digital currency “will have little standing or dependability.” The social media giant is striving to get Washington’s support on its crypto plan. In fact, Facebook startled the investing world, regulators and lawmakers on Jun 18 with its announcement of launching its own digital coin called Libra in 2020, per Reuters. It is now being believed that Facebook will have a tough time to get Senate’s approval. “During the hearing, a U.S. senator said Facebook was “delusional” to believe people will trust it with their money,” was quoted on Reuters. Facebook’s announcement contributed to a meaningful crypto rally in late June when bitcoin prices touched the $13,800-mark. Such pressure from regulators is not new to bitcoin. The SEC hasn’t said yes to any ETF launch proposal on bitcoins so far. SEC is worried about its extreme price volatility in cryptocurrencies and liquidity in bitcoin-related funds. Per Reuters, the virtual currency can be deployed to quickly move money anywhere in the world without any central authority’s intervention, such as a bank or government. The market is pretty unregulated at the current level (read: Yet Another SEC Disapproval for Bitcoin ETF: What Next?). Several central banks issued warnings against it. A number of global central banks are worried that Facebook’s proposed Libra’s entrance could weaken their sovereign currencies. What Lies Ahead? Though Facebook’s crypto plans could be tossed aside by regulators, the sheer discussion about cryptocurrencies in Congress would give the currency more recognition, which in turn could prove to be a positive for the industry, per some market watchers. CEO at Crypto.com noted that Facebook would resort to some other way to seize this incredible opportunity in an acceptable way. If Libra fails to make it to the market, some forms of investments and M&A could be in the cards for Facebook. Any ETF Alternatives to Play Bitcoin? If you are not sure about the imminent move in bitcoins, you can always tap blockchain ETFs to tap the booming prospects in the space. Blockchains are related but more stable investing options. Per a source, “the blockchain in Bitcoin literally acts a ledger; it keeps track of the balances for all users and updates them as money changes hands.” So, if investors cannot lay their hands on a bitcoin ETF now, they can definitely familiarize themselves with the concept through blockchain ETFs likeReality Shares Nasdaq NexGen Economy ETFBLCN,Amplify Transformational Data Sharing ETFBLOK andFirst Trust Indxx Innovative Transaction & Process ETFLEGR. Unlike bitcoin’s massive losses, these three funds lost in the range of 0.6% to 1% in the past five days (as of Jul 17, 2019). Want key ETF info delivered straight to your inbox? Zacks’ free Fund Newsletter will brief you on top news and analysis, as well as top-performing ETFs, each week.Get it free >> Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days.Click to get this free reportAmplify Transformational Data Sharing ETF (BLOK): ETF Research ReportsFirst Trust Indxx Innovative Transaction & Process ETF (LEGR): ETF Research ReportsReality Shares Nasdaq NexGen Economy ETF (BLCN): ETF Research ReportsTo read this article on Zacks.com click here.Zacks Investment ResearchWant the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report \|\| This Chart on Interest Rates Will Have You Finding Stocks to Buy Now: Every day I scan through hundreds (if not thousands) of charts and theres one about interest rates I feel is imperative to share with you today. In fact, this data caught my eye so strongly that I sent it to my CEO, Brian Hunt, in the middle of the night! The next day we had lunch and Brian told me that he moved over $350,000 into the stock market after looking at the chart I sent. Naturally I laughed and assumed he was joking. But, he wasnt. InvestorPlace - Stock Market News, Stock Advice & Trading Tips This is a man who has lived and breathed the stock market for the last 20 years. This is not some amateur investor who is new to the game. I found it fascinating that this one chart was enough to motivate Brian to push a large sum of money into the market. But then again, I should not be surprised because I also have been busy buying stocks since that chart popped up on my screen! My research is broader than many analysts. If youre familiar with my methods , you know I love to travel and put my boots on the ground for face-to-face conversations with company leaders, industry experts, consumers, suppliers or anything else that gives me an edge. I also subscribe to multiple data services so I can sift through the numbers in search of the next great stocks to buy and this particular one comes to us from LPL Financial: The #1 Reason I Am Looking for Stocks to Buy Now It shows every time since 1980 that the Federal Reserve (Fed) cut interest rates when the S&P 500 was within 2% of an all-time high. Thats the situation were likely to be in soon. And historically, this has occurred 17 times in 39 years. In all 17 instances, the S&P 500 was higher one year later. Even more impressive was the average gain of 15% in the year after the Fed cut rates. 7 Stocks Top Investors Are Buying Now If you are not yet sold after seeing that chart, here is another Fundstrat looked at instances when the Fed cut interest rates during an expansionary period for the U.S. economy, going back to 1971. Every single time, the market was higher three, six, nine, and 12 months later. And the returns were impressive: Story continues The #1 Reason I'm Looking for Stocks to Buy Now One year later, the average gain was 16.5%. A 16.5% return from today would push the S&P 500 above 3,500! For context, the average 12-month return for the S&P over the last 50 years is about 8%. So, in this particular situation of a Fed rate cut near market highs, we see nearly twice the average returns. Ill be covering this phenomenon in my investment services but this is so important that I decided to go ahead and share it now. If there is ever a time to be in the market, finding stocks to buy it is now! Another thing to keep in mind is that the S&P 500 is already sitting near an all-time high and the rate cut is highly likely to happen soon. According to the Federal Reserve Bank of Atlanta, the probability of a 25 basis point cut to interest rates by mid-September is 95.6%. Both Citigroup and JPMorgan are predicting a 25 basis point rate cut here in July and Morgan Stanley and UBS are going even further. They expect a rate cut of 50 basis points in July. Now, while a one-year gain of 16.5% is impressive for the S&P 500 I believe that if this historical trend holds, then certain investment themes will greatly outperform: The emergence of 5G. The introduction of self-driving vehicles, powered by next-generation batteries. The continuation of one of the biggest investment opportunities of a generation cannabis . Dont forget about the Internet of Things (IoT), artificial intelligence, and gene therapy, as well. These high-growth megatrends are set to continue their dominance and the winners will see gains several times more than the overall market. Why I Like Penny Pot Stocks Now We might be near all-time highs now. But heres the good news: Many attractive stocks are both undervalued and still in penny stock territory. Penny stocks often get a bad rap. But they are actually critical to the global marketplace. The world NEEDS tiny companies just as much as bigger ones. Theyre the job creators. The innovators. And as an investor, if youre looking for the next Netflix (NASDAQ: NFLX ) or Apple (NASDAQ: AAPL ), this is where youll find it. You just want to be VERY choosy about which ones you buy. Thats what I designed my Cannabis Cash Calendar system to do specifically for marijuana IPOs. Legalization is still working its way across the country (and the world), which means that for most successful companies, their biggest gains are yet to come. Oftentimes, you can buy tomorrows leaders for just pennies a share, or maybe a few dollars. Il be releasing my next Cannabis Cash Calendar recommendation soon. You can get exclusive access to it the moment it is released to my Investment Opportunities readers. Click here to learn more and get on the list to be notified. P.S. Maybe you dont know much about marijuana stocks. Thats fine. Even if youve never bought a stock before, youll want to check this out. Id say take a small stake and you could potentially see that multiply over the next 12 months. Click here for more on this incredible opportunity. Matthew McCall is the founder and president of Penn Financial Group, an investment advisory firm, as well as the editor of Investment Opportunities and Early Stage Investor. He has dedicated his career to getting investors into the worlds biggest, most revolutionary trends BEFORE anyone else. The power of being first gave Matts readers the chance to bank +2,438% in Stamps.com (STMP), +1,523% in Ulta Beauty (ULTA), +1,044% in Tesla (TSLA), +611% in Liquefied Natural Gas Limited (LNGLY), +324% in Bitcoin Services (BTSC), just to name a few. If youre interested in making triple-digit gains from the worlds biggest investment trends BEFORE anyone else, click here to learn more about Matt McCall and his investments strategy today . More From InvestorPlace 2 Toxic Pot Stocks You Should Avoid 7 Stocks Top Investors Are Buying Now The 10 Best Cryptocurrencies to Keep on Your Radar 7 Marijuana Penny Stocks That Could Triple (But You Won't Make Money) The post This Chart on Interest Rates Will Have You Finding Stocks to Buy Now appeared first on InvestorPlace . \|\| This Chart on Interest Rates Will Have You Finding Stocks to Buy Now: Every day I scan through hundreds (if not thousands) of charts — and there’s one about interest rates I feel is imperative to share with you today. In fact, this data caught my eye so strongly that I sent it to my CEO, Brian Hunt, in the middle of the night! The next day we had lunch and Brian told me that he moved over $350,000 into the stock market after looking at the chart I sent. Naturally I laughed and assumed he was joking. But, he wasn’t. InvestorPlace - Stock Market News, Stock Advice & Trading Tips This is a man who has lived and breathed the stock market for the last 20 years. This is not some amateur investor who is new to the game. I found it fascinating that this one chart was enough to motivate Brian to push a large sum of money into the market. But then again, I should not be surprised because I also have been busy buying stocks since that chart popped up on my screen! My research is broader than many analysts. If you’re familiar withmy methods, you know I love to travel and put my boots on the ground for face-to-face conversations with company leaders, industry experts, consumers, suppliers or anything else that gives me an edge. I also subscribe to multiple data services so I can sift through the numbers in search of the next great stocks to buy — and this particular one comes to us from LPL Financial: It shows every time since 1980 that the Federal Reserve (Fed) cut interest rates when the S&P 500 was within 2% of an all-time high. That’s the situation we’re likely to be in soon. And historically, this has occurred 17 times in 39 years. In all 17 instances, the S&P 500 was higher one year later. Even more impressive was the average gain of 15% in the year after the Fed cut rates. • 7 Stocks Top Investors Are Buying Now If you are not yet sold after seeing that chart, here is another… Fundstrat looked at instances when the Fed cut interest rates during an expansionary period for the U.S. economy, going back to 1971. Every single time, the market was higher three, six, nine, and 12 months later. And the returns were impressive: One year later, the average gain was 16.5%. A 16.5% return from today would push the S&P 500 above 3,500! For context, the average 12-month return for the S&P over the last 50 years is about 8%. So, in this particular situation of a Fed rate cut near market highs, we see nearly twice the average returns. I’ll be covering this phenomenon inmy investment services… but this is so important that I decided to go ahead and share it now. If there is ever a time to be in the market, finding stocks to buy — it is now! Another thing to keep in mind is that the S&P 500 is already sitting near an all-time high — and the rate cut is highly likely to happen soon. According to the Federal Reserve Bank of Atlanta, the probability of a 25 basis point cut to interest rates by mid-September is 95.6%. Both Citigroup and JPMorgan are predicting a 25 basis point rate cut here in July — and Morgan Stanley and UBS are going even further. They expect a rate cut of 50 basis points in July. Now, while a one-year gain of 16.5% is impressive for the S&P 500… I believe that if this historical trend holds, then certain investment themes will greatly outperform: The emergence of 5G. The introduction of self-driving vehicles, powered by next-generation batteries. The continuation ofone of the biggest investment opportunities of a generation — cannabis. Don’t forget about the Internet of Things (IoT), artificial intelligence, and gene therapy, as well. These high-growth megatrends are set to continue their dominance — and the winners will see gains several times more than the overall market. We might be near all-time highs now. But here’s the good news: Many attractive stocks are both undervalued and still in “penny stock” territory. Penny stocks often get a bad rap. But they are actually critical to the global marketplace. The world NEEDS tiny companies — just as much as bigger ones. They’re the job creators. The innovators. And as an investor, if you’re looking for the nextNetflix(NASDAQ:NFLX) orApple(NASDAQ:AAPL), this is where you’ll find it. You just want to be VERY choosy about which ones you buy. That’s what I designed myCannabis Cash Calendar systemto do specifically for marijuana IPOs. Legalization is still working its way across the country (and the world), which means that for most successful companies, their biggest gains are yet to come. Oftentimes, you can buy tomorrow’s leaders for just pennies a share, or maybe a few dollars. I’l be releasing my nextCannabis Cash Calendar recommendationsoon. You can get exclusive access to it the moment it is released to myInvestment Opportunitiesreaders.Click here to learn moreand get on the list to be notified. P.S. Maybe you don’t know much about marijuana stocks. That’s fine. Even if you’ve never bought a stock before, you’ll want to check this out. I’d say take a small stake… and you could potentially see that multiply over the next 12 months.Click here for more on this incredible opportunity. Matthew McCall is the founder and president of Penn Financial Group, an investment advisory firm, as well as the editor of Investment Opportunities and Early Stage Investor. He has dedicated his career to getting investors into the world’s biggest, most revolutionary trends BEFORE anyone else. The power of being “first” gave Matt’s readers the chance to bank +2,438% in Stamps.com (STMP), +1,523% in Ulta Beauty (ULTA), +1,044% in Tesla (TSLA), +611% in Liquefied Natural Gas Limited (LNGLY), +324% in Bitcoin Services (BTSC), just to name a few. If you’re interested in making triple-digit gains from the world’s biggest investment trends BEFORE anyone else,click here to learn more about Matt McCall and his investments strategy today. • 2 Toxic Pot Stocks You Should Avoid • 7 Stocks Top Investors Are Buying Now • The 10 Best Cryptocurrencies to Keep on Your Radar • 7 Marijuana Penny Stocks That Could Triple (But You Won't Make Money) The postThis Chart on Interest Rates Will Have You Finding Stocks to Buy Nowappeared first onInvestorPlace. \|\| IOST aims to expand through Boomstarter crowdfunding platform: Public blockchain network IOST is having a busy year. Backed by some powerhouse investors including the likes of Sequoia Capital and Huobi Capital, CEO Jimmy Zhong has ambitious plans. The IOST team is making partnerships left and right, including a recent one with Amazon Web Services where it will provide blockchain-as-a-service to facilitate the development process. Other partnerships include the Chinese autonomous vehicle company Ehang, which provides flight data analytics to the Civil Aviation Administration of China (the NASA of China), and blockchain education ventures with the likes of the Singapore government. This young blockchain company is firmly focused on facilitating mainstream adoption and growing its ecosystem. Since launching its mainnet ahead of schedule earlier this year, IOST is registering some impressive growth. In Q2 2019, it had a total TX amount of more than $20 million some three times that of Ethereum. Its user base is also climbing, mirroring that of EOS in its first three months at 15,000 users. The latest partnership with Boomstarter In a further bid to bring blockchain to the masses, IOST has now partnered with the Eastern European version of Kickstarter. Boomstarter is one of the largest crowdfunding platforms in this region, and the IOST token will now be used as one of the fundraising currencies on it. Boomstarter was founded in 2012 and has raised more than $7.5 million so far for developers, creators, and entrepreneurs from almost 200,000 Eastern European backers. With over 300,000 unique monthly visitors and a user base of 800,000+, IOST aims to provide a new cryptocurrency channel for international backers of exciting new projects. Boomstarter also accepts BTC and ETH payments and will be adding IOSTs new iUSD stablecoin to eliminate volatility for its growing portfolio of entrepreneurs. According to IOST, this partnership marks a win-win for both companies. Boomstarter will attract new eyes from around the globe and access funds from global international communities and IOST will increase the utility of its token, its footprint, and awareness for the project. Story continues IOST supports entrepreneurs around the world IOST and Boomstarter appear to be a match made in heaven considering the values of both platforms: to help hungry entrepreneurs to realise their dreams. This is yet another step toward making blockchain technology more accessible to all, along with its blockchain-as-a-service arm which allows developers to deploy blockchain services in less than five minutes. Speaking exclusively to Coin Rivet, IOST CEO Jimmy Zhong said: Crowdfunding is an amazing way for entrepreneurs who dont have access to traditional venture capital from traditional start-up hubs like Silicon Valley. By building a community of supporters who share their vision, entrepreneurs can now raise funding to make their dreams come to life. The use of the IOST token as a cryptocurrency is an opportunity for companies like Boomstarter to overcome geographical restrictions and truly go international. This is especially pertinent in cases where capital access for small business entrepreneurs is choked by legacy financial systems. Russia and Eastern Europe a booming cryptocurrency area This partnership will bring about greater awareness not only of cryptocurrency, but of the IOST blockchain itself in a region in which the China-born company is not as well known. A further significant point of the partnership is that Boomstarter will also be joining IOST as a new partner node. This is part of the companys plans to penetrate the Russian market with a sizable population of more than 144 million and one of the highest levels of crypto adoption. 13% of Russians use cryptocurrency for online payments. A report by P2PMarketData recently revealed that the Commonwealth of Independent States (CIS) region, which includes Russia, Armenia, Ukraine, Moldova, and Belarus, experienced the fastest crowdfunding growth in Europe at a massive 465% in 2019. Zhong enthused: As a public blockchain with a thriving international community, IOST wants to make the practical benefits of cryptocurrency available to all. This partnership with Boomstarter gives backers a channel to support projects that resonate with them from anywhere in the world using the IOST token. In return, aspiring entrepreneurs on Boomstarter will receive the capital they need, in the form of IOST tokens, to launch the business of their dreams. The post IOST aims to expand through Boomstarter crowdfunding platform appeared first on Coin Rivet . \|\| ETFs For 2nd Half Of 2019: This article is part of a regular series of thought leadership pieces from some of the more influential ETF strategists in the money management industry. Today's article is by John Davi, chief executive officer and chief investment officer of Astoria Portfolio Advisors in New York City. As investment managers at Astoria, we meet regularly to monitor trends in the global economy. The net result of our most recent meetings is that we have reduced stocks, increased the credit quality of our bond portfolio, and increased the usage of alternatives across our dynamic portfolios. Heres a quick summary of how we currently see the world, and how we are allocating our ETF portfolios accordingly. Big Picture: Stock Gains Likely To Slow Down Increased concerns about global growth slowing and downside risks from trade wars resulted in deteriorating macroeconomic conditions in the first half of 2019. Due to the prevailing financial conditions, the U.S. Federal Reserve signaled it is open to cutting interest rates to stimulate growth and sustain the current economic expansion. The S&P 500 index produced a return of 17.35% in the first half of 2019, its best first half since 1997. But the year-to-date index returns in the U.S. are highly unlikely to continue at this rapid pace. We advocate a globally diversified, multifactor, multi-asset ETF portfolio, always thinking in the long term, of course. Top ETF Picks Some of our top ETF holdings across our dynamic portfolios include: U.S. Equity: focus on quality ( WisdomTree US Quality Dividend Growth Fund (DGRW) , iShares Edge MSCI U.S.A. Quality Factor ETF (QUAL) and JPMorgan U.S. Quality Factor ETF (JQUA) ); banks ( Invesco KBW Bank ETF (KBWB) ); health care ( Health Care Select Sector SPDR Fund (XLV) ); and multifactor ( WisdomTree U.S. Multifactor Fund (USMF) and Goldman Sachs ActiveBeta U.S. Large Cap Equity ETF (GSLC) ) Global Equity: emerging markets ( SPDR S&P Emerging Markets Dividend ETF (EDIV) ); quality ( WisdomTree Global ex-US Quality Dividend Growth Fund (DNL) ); and China ( iShares MSCI China ETF (MCHI) and WisdomTree ICBCCS S&P China 500 Fund (WCHN) ) Fixed Income: infrastructure bonds ( Xtrackers Municipal Infrastructure Revenue Bond ETF (RVNU) ); municipal bonds ( Vanguard Tax-Exempt Bond ETF (VTEB) ); investment-grade mortgage-backed securities ( Vanguard Mortgage-Backed Securities ETF (VMBS) ); investment-grade U.S. bond market ( Vanguard Total Bond Market ETF (BND) , SPDR Portfolio Aggregate Bond ETF (SPAB) and iShares Core U.S. Aggregate Bond ETF (AGG) ); and short-term bonds ( JPMorgan Ultra-Short Income ETF (JPST) ) Alternatives: merger/arbitrage ( IQ Merger Arbitrage ETF (MNA) ); long/short market neutral ( AGFiQ U.S. Market Neutral Anti-Beta Fund (BTAL) ); and gold & gold miners ( VanEck Vectors Gold Miners ETF (GDX) , SPDR Gold Trust (GLD) and iShares Gold Trust (IAU) ) Story continues Heres a more granular look at whats driving our ETF selections (above) right now. All Eyes On Yield Curve A lot of attention is being paid to the fact that the U.S. yield curve is currently inverted. Historically, a negative yield curve implies investors expect future short-term rates to be lower as the Fed eases policy in response to a potential recession. According to J.P. Morgan Research, seven out of the eight U.S. yield curve inversions since 1960 were followed by a recession. But while focus is on the three-month Treasury bill versus the 10-year Treasury inverted yield curve, consider that not all parts of the U.S. interest rate yield curve are inverted. For instance, the two-year versus 10-year spread remains positive. In fact, the two-year versus 10-year spread has historically been more of a bellwether for predicting economic recessions, and it has been steadily steepening since the fourth quarter of 2018. Sources: Bloomberg, Astoria Portfolio Advisors That said, theres plenty of concern overhanging the market; for example, the ongoing trade spat between the U.S. and China. Theres been a trucefor nowwhile negotiations are ongoing. The U.S. is holding off on imposing additional tariffs; China will continue to purchase agricultural products from the U.S. Thats the good news. The bad news is that uncertainty remains, as there is no clear path toward a comprehensive resolution. This uncertainty will continue to overhang the global economic outlook and lead a drag on global growth in the second half of 2019 and into 2020. Economic Data, Valuations & Portfolio Construction Global economic data has also deteriorated in 2019. The U.S. economy isnt immune to the global growth slowdown. The Atlanta Fed GDPNow Forecast Model is 1.50% as of June 28, 2019. On Aug. 1, 2018, this model was forecasting GDP to be 4.95%. U.S. stock valuations are neither cheap nor expensive. According to FactSet, the S&P 500 Index forward P/E ratio is 16.6x as of June 28, 2019 and is slightly above the five-year average (16.5x) and the 10-year average (14.8x). There is plenty for investors to worry about going into the second part of this year. Whats Working From a long-only ETF factor perspective, quality, size and momentum have outperformed the most thus far in 2019. Source: ETFAction.com , data accessed on June 28, 2019 Intl Equities: Valuations Attractive On the back of an accommodative Fed, international developed and emerging market equities posted strong returns in the first half of 2019, but remain at attractive valuations. The Shanghai Stock Exchange Composite Index (China) increased by 20.96% (in CNY terms); the Euro STOXX 50 Index (Europe) rose by 19.81% (in euro terms); the MSCI Emerging Markets Index was up 11.06% (in USD terms); and the Nikkei 225 Index (Japan) increased by 7.53% (in Japanese yen terms). In our view, emerging market equities (China in particular) remain attractive for long-term investors, as they are trading at a substantial valuation discount compared to the U.S. stock market. According to ETFAction.com , the iShares MSCI China ETF (MCHI) is projected to have 15.00% EPS growth based on 2019 analyst estimates, whereas the S&P 500 ETF Trust (SPY) is projected to have only 3.75%. Fixed Income: Focus On High Grade U.S. interest rates declined across various maturities in the first quarter. Given that the U.S. yield curve is relatively flat, ultra-short-duration bond funds are providing investors with a more attractive opportunity compared to longer-duration bond funds. The Bloomberg Barclays U.S. Aggregate Bond Index is up 6.11% as of the end of the first half. We continue to prefer owning higher quality U.S. bonds across our portfolios. We maintain an overweight position in U.S. municipal bonds and U.S. mortgage-backed securities, both of which are highly rated. In fact, between 75-80% of our fixed income bonds across both Astorias strategic and dynamic ETF portfolios are rated either AAA or AA. Commodities: Pick Wisely Along with stocks and bonds, commodities posted positive returns in the first half. The Bloomberg Commodity Index increased by 3.83% although, once again, there were notable divergences across the complex. The United States Oil Fund LP (USO) increased by 24.64%, the SPDR Gold Trust (GLD) rose by 9.86%, the Invesco DB Base Metals Fund (DBB) climbed by 0.71%, and the Invesco DB Agriculture ETF (DBA) declined by 2.18%. We have written that gold was attractive in a multi-asset portfolio, as it serves as a valuable diversifier during times of stress. As a reminder, our gold allocation helped soften our portfolio volatility in the fourth quarter of 2018, as gold rose 7.53% while the S&P 500 Index declined 13.52%. Astoria Portfolio Advisors Disclosure: As of the time of this writing, Astoria held positions in DGRW, QUAL, JQUA, KBWB, XLV, USMF, GSLC, EDIV, DNL, WCHN, MCHI, RVNU, VTEB, VMBS, SPAB, AGG, BND JPST, MNA, BTAL, GDX, GLD and IAU. Note that this is not an exhaustive list of holdings across Astorias dynamic ETF model portfolios. Also note that Astoria maintains a set of strategic asset allocation ETF portfolios where the holdings vary from our dynamic portfolios. For full disclosure, please refer to our website . Recommended Stories The Big Advisor/Client Gap Should You Own A Bitcoin ETF? Income ETFs For Slowing Growth ETF Investors Embrace ESG 'Lifestyle' Permalink \| © Copyright 2019 ETF.com. All rights reserved \|\| IOST aims to expand through Boomstarter crowdfunding platform: Public blockchain network IOST is having a busy year. Backed by some powerhouse investors including the likes of Sequoia Capital and Huobi Capital, CEO Jimmy Zhong has ambitious plans. The IOST team is making partnerships left and right, including a recent one with Amazon Web Services where it will provide blockchain-as-a-service to facilitate the development process. Other partnerships include the Chinese autonomous vehicle company Ehang, which provides flight data analytics to the Civil Aviation Administration of China (the NASA of China), and blockchain education ventures with the likes of the Singapore government. This young blockchain company is firmly focused on facilitating mainstream adoption and growing its ecosystem. Since launching its mainnet ahead of schedule earlier this year, IOST is registering some impressive growth. In Q2 2019, it had a total TX amount of more than $20 million some three times that of Ethereum. Its user base is also climbing, mirroring that of EOS in its first three months at 15,000 users. The latest partnership with Boomstarter In a further bid to bring blockchain to the masses, IOST has now partnered with the Eastern European version of Kickstarter. Boomstarter is one of the largest crowdfunding platforms in this region, and the IOST token will now be used as one of the fundraising currencies on it. Boomstarter was founded in 2012 and has raised more than $7.5 million so far for developers, creators, and entrepreneurs from almost 200,000 Eastern European backers. With over 300,000 unique monthly visitors and a user base of 800,000+, IOST aims to provide a new cryptocurrency channel for international backers of exciting new projects. Boomstarter also accepts BTC and ETH payments and will be adding IOSTs new iUSD stablecoin to eliminate volatility for its growing portfolio of entrepreneurs. According to IOST, this partnership marks a win-win for both companies. Boomstarter will attract new eyes from around the globe and access funds from global international communities and IOST will increase the utility of its token, its footprint, and awareness for the project. Story continues IOST supports entrepreneurs around the world IOST and Boomstarter appear to be a match made in heaven considering the values of both platforms: to help hungry entrepreneurs to realise their dreams. This is yet another step toward making blockchain technology more accessible to all, along with its blockchain-as-a-service arm which allows developers to deploy blockchain services in less than five minutes. Speaking exclusively to Coin Rivet, IOST CEO Jimmy Zhong said: Crowdfunding is an amazing way for entrepreneurs who dont have access to traditional venture capital from traditional start-up hubs like Silicon Valley. By building a community of supporters who share their vision, entrepreneurs can now raise funding to make their dreams come to life. The use of the IOST token as a cryptocurrency is an opportunity for companies like Boomstarter to overcome geographical restrictions and truly go international. This is especially pertinent in cases where capital access for small business entrepreneurs is choked by legacy financial systems. Russia and Eastern Europe a booming cryptocurrency area This partnership will bring about greater awareness not only of cryptocurrency, but of the IOST blockchain itself in a region in which the China-born company is not as well known. A further significant point of the partnership is that Boomstarter will also be joining IOST as a new partner node. This is part of the companys plans to penetrate the Russian market with a sizable population of more than 144 million and one of the highest levels of crypto adoption. 13% of Russians use cryptocurrency for online payments. A report by P2PMarketData recently revealed that the Commonwealth of Independent States (CIS) region, which includes Russia, Armenia, Ukraine, Moldova, and Belarus, experienced the fastest crowdfunding growth in Europe at a massive 465% in 2019. Zhong enthused: As a public blockchain with a thriving international community, IOST wants to make the practical benefits of cryptocurrency available to all. This partnership with Boomstarter gives backers a channel to support projects that resonate with them from anywhere in the world using the IOST token. In return, aspiring entrepreneurs on Boomstarter will receive the capital they need, in the form of IOST tokens, to launch the business of their dreams. The post IOST aims to expand through Boomstarter crowdfunding platform appeared first on Coin Rivet . \|\| ETFs For 2nd Half Of 2019: This article is part of a regular series of thought leadership pieces from some of the more influential ETF strategists in the money management industry. Today's article is by John Davi, chief executive officer and chief investment officer of Astoria Portfolio Advisors in New York City. As investment managers at Astoria, we meet regularly to monitor trends in the global economy. The net result of our most recent meetings is that we have reduced stocks, increased the credit quality of our bond portfolio, and increased the usage of alternatives across our dynamic portfolios. Here’s a quick summary of how we currently see the world, and how we are allocating our ETF portfolios accordingly. Big Picture: Stock Gains Likely To Slow Down Increased concerns about global growth slowing and downside risks from trade wars resulted in deteriorating macroeconomic conditions in the first half of 2019. Due to the prevailing financial conditions, the U.S. Federal Reserve signaled it is open to cutting interest rates to stimulate growth and sustain the current economic expansion. The S&P 500 index produced a return of 17.35% in the first half of 2019, its best first half since 1997. But the year-to-date index returns in the U.S. are highly unlikely to continue at this rapid pace. We advocate a globally diversified, multifactor, multi-asset ETF portfolio, always thinking in the long term, of course. Top ETF Picks Some of our top ETF holdings across our dynamic portfolios include: • U.S. Equity: focus on quality (WisdomTree US Quality Dividend Growth Fund (DGRW),iShares Edge MSCI U.S.A. Quality Factor ETF (QUAL)andJPMorgan U.S. Quality Factor ETF (JQUA)); banks (Invesco KBW Bank ETF (KBWB)); health care (Health Care Select Sector SPDR Fund (XLV)); and multifactor (WisdomTree U.S. Multifactor Fund (USMF)andGoldman Sachs ActiveBeta U.S. Large Cap Equity ETF (GSLC)) • Global Equity: emerging markets (SPDR S&P Emerging Markets Dividend ETF (EDIV)); quality (WisdomTree Global ex-US Quality Dividend Growth Fund (DNL)); and China (iShares MSCI China ETF (MCHI)andWisdomTree ICBCCS S&P China 500 Fund (WCHN)) • Fixed Income: infrastructure bonds (Xtrackers Municipal Infrastructure Revenue Bond ETF (RVNU)); municipal bonds (Vanguard Tax-Exempt Bond ETF (VTEB)); investment-grade mortgage-backed securities (Vanguard Mortgage-Backed Securities ETF (VMBS)); investment-grade U.S. bond market (Vanguard Total Bond Market ETF (BND),SPDR Portfolio Aggregate Bond ETF (SPAB)andiShares Core U.S. Aggregate Bond ETF (AGG)); and short-term bonds (JPMorgan Ultra-Short Income ETF (JPST)) • Alternatives: merger/arbitrage (IQ Merger Arbitrage ETF (MNA)); long/short market neutral (AGFiQ U.S. Market Neutral Anti-Beta Fund (BTAL)); and gold & gold miners (VanEck Vectors Gold Miners ETF (GDX),SPDR Gold Trust (GLD)andiShares Gold Trust (IAU)) Here’s a more granular look at what’s driving our ETF selections (above) right now. All Eyes On Yield Curve A lot of attention is being paid to the fact that the U.S. yield curve is currently inverted. Historically, a negative yield curve implies investors expect future short-term rates to be lower as the Fed eases policy in response to a potential recession. According to J.P. Morgan Research, seven out of the eight U.S. yield curve inversions since 1960 were followed by a recession. But while focus is on the three-month Treasury bill versus the 10-year Treasury inverted yield curve, consider that not all parts of the U.S. interest rate yield curve are inverted. For instance, the two-year versus 10-year spread remains positive. In fact, the two-year versus 10-year spread has historically been more of a bellwether for predicting economic recessions, and it has been steadily steepening since the fourth quarter of 2018. Sources: Bloomberg, Astoria Portfolio Advisors That said, there’s plenty of concern overhanging the market; for example, the ongoing trade spat between the U.S. and China. There’s been a truce—for now—while negotiations are ongoing. The U.S. is holding off on imposing additional tariffs; China will continue to purchase agricultural products from the U.S. That’s the good news. The bad news is that uncertainty remains, as there is no clear path toward a comprehensive resolution. This uncertainty will continue to overhang the global economic outlook and lead a drag on global growth in the second half of 2019 and into 2020. Economic Data, Valuations & Portfolio Construction Global economic data has also deteriorated in 2019. The U.S. economy isn’t immune to the global growth slowdown. The Atlanta Fed GDPNow Forecast Model is 1.50% as of June 28, 2019. On Aug. 1, 2018, this model was forecasting GDP to be 4.95%. U.S. stock valuations are neither cheap nor expensive. According to FactSet, the S&P 500 Index forward P/E ratio is 16.6x as of June 28, 2019 and is slightly above the five-year average (16.5x) and the 10-year average (14.8x). There is plenty for investors to worry about going into the second part of this year. What’s Working From a long-only ETF factor perspective, quality, size and momentum have outperformed the most thus far in 2019. Source:ETFAction.com, data accessed on June 28, 2019 Int’l Equities: Valuations Attractive On the back of an accommodative Fed, international developed and emerging market equities posted strong returns in the first half of 2019, but remain at attractive valuations. The Shanghai Stock Exchange Composite Index (China) increased by 20.96% (in CNY terms); the Euro STOXX 50 Index (Europe) rose by 19.81% (in euro terms); the MSCI Emerging Markets Index was up 11.06% (in USD terms); and the Nikkei 225 Index (Japan) increased by 7.53% (in Japanese yen terms). In our view, emerging market equities (China in particular) remain attractive for long-term investors, as they are trading at a substantial valuation discount compared to the U.S. stock market. According toETFAction.com, theiShares MSCI China ETF (MCHI)is projected to have 15.00% EPS growth based on 2019 analyst estimates, whereas theS&P 500 ETF Trust (SPY)is projected to have only 3.75%. Fixed Income: Focus On High Grade U.S. interest rates declined across various maturities in the first quarter. Given that the U.S. yield curve is relatively flat, ultra-short-duration bond funds are providing investors with a more attractive opportunity compared to longer-duration bond funds. The Bloomberg Barclays U.S. Aggregate Bond Index is up 6.11% as of the end of the first half. We continue to prefer owning higher quality U.S. bonds across our portfolios. We maintain an overweight position in U.S. municipal bonds and U.S. mortgage-backed securities, both of which are highly rated. In fact, between 75-80% of our fixed income bonds across both Astoria’s strategic and dynamic ETF portfolios are rated either AAA or AA. Commodities: Pick Wisely Along with stocks and bonds, commodities posted positive returns in the first half. The Bloomberg Commodity Index increased by 3.83% although, once again, there were notable divergences across the complex. TheUnited States Oil Fund LP (USO)increased by 24.64%, theSPDR Gold Trust (GLD)rose by 9.86%, theInvesco DB Base Metals Fund (DBB)climbed by 0.71%, and theInvesco DB Agriculture ETF (DBA)declined by 2.18%. We have written that gold was attractive in a multi-asset portfolio, as it serves as a valuable diversifier during times of stress. As a reminder, our gold allocation helped soften our portfolio volatility in the fourth quarter of 2018, as gold rose 7.53% while the S&P 500 Index declined 13.52%. Astoria Portfolio Advisors Disclosure: As of the time of this writing, Astoria held positions in DGRW, QUAL, JQUA, KBWB, XLV, USMF, GSLC, EDIV, DNL, WCHN, MCHI, RVNU, VTEB, VMBS, SPAB, AGG, BND JPST, MNA, BTAL, GDX, GLD and IAU. Note that this is not an exhaustive list of holdings across Astoria’s dynamic ETF model portfolios. Also note that Astoria maintains a set of strategic asset allocation ETF portfolios where the holdings vary from our dynamic portfolios. For full disclosure, please refer toour website. Recommended Stories • The Big Advisor/Client Gap • Should You Own A Bitcoin ETF? • Income ETFs For Slowing Growth • ETF Investors Embrace ESG 'Lifestyle' Permalink\| © Copyright 2019ETF.com.All rights reserved [Social Media Buzz] BTC 日足レベルの話をします。過去三回のチャレンジでBTCは一度もこのバンド帯の上で滞空することができず、叩き落とされてきました。挑戦のたびに下落幅が抑えられ、反発力が小さくなる傾向があります。上抜けの際にこの地帯(7500〜8000$)を明確に割らないことが調整終了の条件となります。 https://t.co/Y4pMbZO8gw \|\| 日経上がってBTCも戻り久しぶりのトレード日和ですね LTC買い増し \|\| Buy Bitcoin! \|\| Fluctuation of major coins (past 1 H) 🔥⤴ $BTC Bitcoin +0.33% 💧⤵ $ETH Ethereum -0.37% 🔥⤴ $XRP XRP +0.16% 💧⤵ $LTC Litecoin -0.51% 🔥⤴ $NEO NEO +0.31% 💧⤵ $DASH Dash -0.24% 🔥⤴ $XMR Monero +0.21% More ranking...https://t.co/RFEF0Iv24R \|\| @cryptoworld202 I mined my...	10767.14, 10599.11, 10343.11, 9900.77, 9811.93, 9911.84, 9870.30, 9477.68, 9552.86, 9519.15
Given the historical Bitcoin prices from the last 90 days, predict the next 10 daily closing prices. The historical prices are: 11440.70, 11786.30, 11296.40, 10106.30, 10221.10, 9170.54, 8830.75, 9174.91, 8277.01, 6955.27, 7754.00, 7621.30, 8265.59, 8736.98, 8621.90, 8129.97, 8926.57, 8598.31, 9494.63, 10166.40, 10233.90, 11112.70, 10551.80, 11225.30, 11403.70, 10690.40, 10005.00, 10301.10, 9813.07, 9664.73, 10366.70, 10725.60, 10397.90, 10951.00, 11086.40, 11489.70, 11512.60, 11573.30, 10779.90, 9965.57, 9395.01, 9337.55, 8866.00, 9578.63, 9205.12, 9194.85, 8269.81, 8300.86, 8338.35, 7916.88, 8223.68, 8630.65, 8913.47, 8929.28, 8728.47, 8879.62, 8668.12, 8495.78, 8209.40, 7833.04, 7954.48, 7165.70, 6890.52, 6973.53, 6844.23, 7083.80, 7456.11, 6853.84, 6811.47, 6636.32, 6911.09, 7023.52, 6770.73, 6834.76, 6968.32, 7889.25, 7895.96, 7986.24, 8329.11, 8058.67, 7902.09, 8163.42, 8294.31, 8845.83, 8895.58, 8802.46, 8930.88, 9697.50, 8845.74, 9281.51.	[Bitcoin Technical Analysis for 2018-04-26] Volume: 8970559488, RSI (14-day): 61.14, 50-day EMA: 8500.79, 200-day EMA: 8789.15 [Wider Market Context] Gold Price: 1316.30, Gold RSI: 41.92 Oil Price: 68.19, Oil RSI: 62.03 [Recent News (last 7 days)] AT&T Inc. (T) Q1 2018 Earnings Conference Call Transcript: Image source: The Motley Fool. AT&T, Inc.(NYSE: T)Q1 2018 Earnings Conference CallApril 25, 2018,4:30 p.m. ET • Prepared Remarks • Questions and Answers • Call Participants Operator Ladies and gentlemen, thank you for standing by, and welcome to the AT&T First Quarter of 2018 Earnings Call. At this time, all of your participant phone lines are in a listen-only mode, and later, there will be an opportunity here for your questions. Instructions will be given at that time. If you need any assistance during the call or presentation, please press * followed by 0 for us. I would now like to turn the conference over to our host, Michael Viola, Senior Vice President of Investor Relations. Please go ahead, sir. Michael Viola--SeniorVice President of Investor Relations Thank you, Justin. Good afternoon, everyone, and welcome to our first quarter conference call. Like Justin said, this is Mike Viola. I'm the Head of Investor Relations for AT&T. And joining me on the call today is John Stephens, AT&T's Chief Financial Officer. John's going to cover our results and provide business updates, which will include progress on FirstNet, and then we'll follow that up with a Q&A session. As always, our earnings materials are available on the Investor Relations page of the AT&T website. That includes our news release, investor briefing, 8-K, and a variety of associated schedules. More From The Motley Fool • 3 Growth Stocks at Deep-Value Prices • 5 Expected Social Security Changes in 2018 • 6 Years Later, 6 Charts That Show How Far Apple, Inc. Has Come Since Steve Jobs' Passing • 10 Best Stocks to Buy Today • The $16,122 Social Security Bonus You Cannot Afford to Miss • Bitcoin's Biggest Competitor Isn't Ethereum -- It's This Before we begin, I want to call your attention to our Safe Harbor statement. That says that some of our comments today may be forward-looking. As such, they're subject to risks and uncertainties, and those results may differ materially. And additional information is always available on the Investor Relations website. I also want to remind you that we're in the quiet period for the FCC CAP II auction, and so we can't address any questions about that today. And so now, I'd like to turn the call over to AT&T's CFO, John Stephens. John Stephens--Chief Financial Officer Thanks, Mike, and thanks for joining us on the call today. Let me begin with our financial summary, which is on slide three. As we mentioned late quarter and noted in an 8-K filed last month, AT&T was required to adopt several new accounting standards this year. These new accounting standards deal with reporting issues around revenue recognition, pension costs, financial instruments, and cash receipts on installment receivables. These changes have some impact on our income statements and our cash flows. And in connection with adopting the new standard on revenue recognition, the company will now record universal service and other regulatory fees on a net basis, consistent with how we have traditionally reported other pass-through items like sales taxes. This specific change will reduce both revenues and expenses by a little more than $900 million this quarter, but will -- they will not impact operating income or net income for the quarter. In addition to GAAP, we're providing comparable historical results to help you better understand the impact on financials from revenue recognition. We will be referring to these historical results in our comparisons during this call. Tax reform gave us the opportunity to invest and grow our customer base. These investments drove a significant year-over-year improvement in postpaid phone net ads, the second highest broadband quarter in three years, and solid growth in video as we transition our TV business. Our adjusted EPS for the quarter was $0.85, up about $0.15, with benefits from tax reform and revenue recognition offsetting the cost of investing in our growing customer base, and a small amount of pressure from the new financial instrument reporting rules. Adjusted consolidated operating margins for the quarter were up year-over-year on a reported basis, but down on a comparable basis. Our increased sales activity this quarter drove much of the pressure we saw, as did continued transition of video from linear to over-the-top services. But at the same time, we did see margin improvements in business wireline and international. Next, let's cover revenue, which was $38.9 billion, down from a year ago. Higher wireless equipment and strategic service revenues partially offset declines in legacy services, the ongoing impact of the video transition, and our decision to no longer pursue some low-margin businesses. Cash flow statements have been recast to show the impact of the new accounting standard with installment receivables, so year-over-year cash flow results are comparable. The first quarter's traditionally our lowest free cash flow quarter, and this year's no different. Several items impacted free cash flow, including our annual employee bonus program, a larger than usual handset payment from the very strong gross ad and upright performance during the late holiday season in the fourth quarter and continuing into the first quarter. We also had unreimbursed FirstNet expenditures in this quarter. Offsetting some of this pressure was the tax refund we received in the first quarter, which was generated by the passage of the Tax Reform Act in late December of last year. We're still on plan to meet the free cash flow guidance we gave you in January. That guidance of free cash flow in the $21 billion range included the pressure from the receivables accounting change. Capital spending was $6.1 billion in the quarter. Let's now take a look at our operations, starting with mobility, where the team turned in solid customer growth. Those details are on slide four. AT&T domestic mobility operations, as you know, are divided between the business solutions and consumer wireless segments. For comparison purposes, we're providing supplemental information for its total U.S. wireless operations. Strong sales activity in a usually quiet quarter help drive a turnaround in postpaid phone net ads. Postpaid phone net ads showed a more than 300,000 phone improvement compared to the year ago first quarter, which is now a more than 700,000 year-over-year improvement in the last two quarters. Prepaid phones also came in strong, with about 190,000 new subscribers. And that's helped our Cricket customer base grow. And today, it totals nine million customers. Congrats to our management team that runs Cricket. And we increased our branded smartphone base by nearly 500,000, topping 73 million by the end of the quarter. Churn keeps improving. We had another record low first quarter postpaid phone churn of 0.84%, improving both year-over-year and sequentially. All together, we had more than 2.26 million new subscribers -- that's domestic subscribers -- with gains in postpaid, prepaid, and connected devices, more than offsetting our continued losses in resellers. Revenues were up more than 3% in the quarter thanks to our strong smartphone sales, while service revenues were essentially flat sequentially. We're confident that service revenues will improve throughout the year. We still expect that we'll be positive for the full year on a comparable basis. There are several reasons for that. First, we're not through the toughest year-over-year compare, as we lap the introduction of unlimited plans that came out in the first quarter a year ago. We're adding postpaid, prepaid, and connected devices subscribers at rapid rates, and the pressure from resellers stabilizing. Recent new product offerings will also help. Our strong sales activity also had an impact on margins. Postpaid smartphone gross ads and upgrades increased by about 500,000 year-over-year. That's an upgrade rate of 4.3%, which was higher than last year. Still, service margins came in at 48.1% on a comparable basis. Our long-term strategy to build our branded phone base and improve churn with bundled services continues to pay off. Postpaid smartphones have increased by almost $2 million in the last two years. Prepaid smartphones have also increased at a solid clip, growing by $3.4 million in the same timeframe. That's a more than $5 million gross in our overall domestic smartphone base. At the same time, a growing number of our existing mobility customers are bundling their wireless with our video and our broadband services. These are our most valuable customers, with churn significantly lower than single service customers. These results are very encouraging, and gives us the confidence to continue to carefully invest in our customer base. Now, let's take a look at our entertainment group results on slide five. The positive impact of TV and broadband promotions and our ability to bundle services can be seen in our entertainment group results. Total video customers, broadband connections, and bundles all grew. DIRECTV NOW continues its solid run of subscriber growth. More than 300,000 DTV NOW subs were added in the first quarter, giving us nearly 1.5 million customers in service. This over-the-top video growth has helped us manage the industrywide transition of linear TV subscribers to over-the-top services. Looking at total video subs, we actually have more subscribers today than we did two years ago because of the success of DIRECTV NOW. This is especially important at a time when the industry is seeing the increasing pressure from customers cutting the cord. Transitions such as this are never easy, but we have shown that we are able to do this time and time again, whether it be with our voice, our broadband, or our wireless services. We don't expect video to be any different. We do expect revenue and margin pressure as we manage through this, especially this year. But we're excited about DIRECTV NOW's product improvements, and our new user interface that we're beta testing right now and expect to roll out soon. This has cloud-based DVR capabilities and supports an additional video stream per account. Later this year, we expect a more robust VOD experience and new pay-per-view options to be released. These new services will add new revenue streams to help counter some of the revenue and margin pressure we are dealing with. The over-the-top model also is low touch, with significantly lower subscriber acquisition costs and less capital investment. As we manage the over-the-top transition, we are completing our broadband transition from DSL to IP broadband. About 800,000 of our residential broadband customers are still on legacy DSL. That compares very favorably to about 4.5 million legacy DSL customers just for years ago. So, we are managing through this transition. This has helped drive growing broadband momentum for us. We had 154,000 high-speed broadband net ads in the quarter and 82,000 total broadband net ads. Our fiber build now passes more than eight million customer locations, nearly all consumer, and you see its impact on our broadband numbers. Customer response has been terrific. In areas where they have been marketing fiber for the last two years, our penetration rate is nearly 50%. That's quite a bit higher than in our non-fiber markets and leaves us a lot of room to run over the next couple years. Now, let's look at business solution results on slide six. As a reminder, wireless subscribers, and specifically individual wireless subscribers, who buy off a company plan have been moved from business solutions to consumer mobility. Historical financials have been recast to reflect that change. Business solution revenues were down slightly, as gains in wireless and strategic business services help to offset declines in the legacy services. Wireless revenues were up nearly 4%. Equipment revenues were up with increased sales, while services revenues were essentially flat. Wireline revenues were down about 3% year-over-year, an improvement over recent quarters, and similar to what we saw in the fourth quarter. This improving trend in wireline is encouraging. And this comes before any expected bump from business activity that we might see with tax reform. Another positive is the significant improvement in business wireline margins, where EBITDA grew year-over-year and margins were up 190 basis points on a comparative basis. The team continues to do a great job in driving cost management initiatives. We're also beginning to see operating expense savings from our move to a virtualized software defined network. More than 55% of our network functions were virtualized at the end of '17, and we expect to have 65% virtualized by the end of this year, well on our way to meet or exceed our goal of 75% virtualized by 2020. Our international business also turned in another strong quarter, thanks to solid revenue gains in Mexico. These results are at the bottom of slide six. Revenues were up more than 7%. EBITDA was up significantly, thanks to strength in Latin American and improvements in Mexico. Subscriber growth continues to be strong in Mexico. We added more than 500,000 new subscribers in the quarter and more than three million in the past year, and now have 15.6 million customers in total. Reported service revenues were down slightly due to our first quarter decision to shut down a wholesale business that we inherited from Nextel. Without that roughly $90 million reduction in revenues, reported service revenues were up year-over-year. And our Latin America satellite operations continue to be profitable and generate positive free cash flow. Over the last few quarters, we explored the possibility of issuing an IPO for our DIRECTV Latin America video properties, but ended up withdrawing our offer. We just didn't believe it was the right time to transact. Current market conditions obviously played a role, and trade, interest rates, market volatility, and foreign exchange all played their part. DIRECTV Latin America has been a steady performer for us, contributing both profitability and free cash flow. We'll continue to look for ways to unlock the value of those properties for investors, while increasing our optionality. Now, I'd like to provide you updates on our Time Warner acquisition and our goal to build the world's premiere gigabyte network. Those details are on slide seven. I'm not sure I need to update anyone on the status of our bid to merge with Time Warner, but here's the latest. Both side are wrapping up their cases and are now preparing for closing arguments on April 30th. After that, we'll wait for the court's ruling. Based on the court's determination, we stand ready to close. Funding is in place, even after we settled a special mandatory redemption bond. There's not much more we can add at this point. I'd also like to update you on our ongoing efforts to improve our networks. FirstNet continues its strong start. We launched the first and only nationwide FirstNet dedicated network core last month. This network core acts like the brains and nervous system of FirstNet, and is on physically separate hardware. Only FirstNet traffic will move through this core. This will serve as a springboard for ongoing innovation and advanced functionality, delivering value-added capabilities and benefits that commercial cores can't match. This includes always on access to priority and ruthless pre-emption. The FirstNet network also is open for FirstNet ready and FirstNet capable devices. These devices support all AT&T commercial LTE bands and the FirstNet Band 14, and meet band priority selection technical requirements. So far, nearly 650 agencies across 48 states and territories are already subscribing to FirstNet services. We see this as a real growth opportunity. We've also started the heavy lifting of putting Band 14 on our towers. Over the next five years, we'll be putting Band 14 on tens of thousands of new and existing sites nationwide. We plan to touch about a third of our cell sites this year alone. Our new Crown Castle agreement will help us speed this process. The agreement simplifies and expands our long-term leasing deal for wireless network infrastructure. This will give us more flexibility as we deploy FirstNet as well as 5G technologies. We're working hard to build something great for first responders. With the introduction of the FirstNet core, first responders finally have the network that they have been asking for and that they deserve. In addition to our efforts with FirstNet, 5G and 5G Evolution work continues its accelerated development in several different areas that will pave the way to the next generation of higher speeds and quality for customers. 5G Evolution is made up of carrier aggregation, 4x4 MIMO and 256 QAM technologies, along with LTE local assist access, or LTL-AA. These are building blocks toward the transition to 5G and will deliver speeds substantially faster than LTE. 5G evolution has now expanded to 141 markets, and we expect to reach more than 500 markets by the end of the year. Our fixed 5G trials also are providing valuable, real-world millimeter wave spectrum experiences both to businesses and residential customers. We're seeing gigabyte-plus speeds under line of sight conditions for distances up to 900 feet and with extremely low latency rates, some as low as nine milliseconds. These trials have shown that millimeter wave is able to penetrate foliage, glass, and even walls better than anticipated with no discernable signal performance impacts due to rain, slow, or other weather issues. Granted, these are early results in trial conditions. But we are excited about what we have seen so far. The backbone for 5G or any wireless network is fiber. And our fiber network is extensive and growing. We're on track to surpass our commitment as part of the DIRECTV deal to build fiber to 12.5 million customer locations. We now reach more than eight million locations with fiber and plan to hit 10 million by the end of this year. This is in addition to the eight million business locations that we pass today within 1,000 feet with fiber. These 16 million locations and the more than one million route miles of fiber in our overall network are the backbone of our network and our move to 5G. With FirstNet, 5G, and fiber build, our network has never moved at a faster pace. We're excited about the progress we're making and even more excited about where our network will be in a very short time. That's it for my presentation. Mike, I'll turn it back over to you for Q&A. Michael Viola--SeniorVice President of Investor Relations Okay, thanks. Justin, we're ready to take questions. Operator Most certainly. Thank you. Ladies and gentlemen, if you'd like to queue up here for a question, please press * followed by 1 now for us. And just a reminder, if you are using speakerphone, it might be helpful to lift the handset before pressing those number keys. First, we have the line of John Hodulik of UBS. Your line is open. John Hodulik--UBS Securities -- Analyst Okay. Thanks, guys. Maybe first starting on the entertainment group, really, on slide five. John, I just want to make sure I'm sort of reading this correctly in terms of the exhibit you put here, that sort of everything left of that vertical line is sort of historical accounting method, and if that's true, the way I'm reading it, can you just confirm that EBITDA? John Stephens--Chief Financial Officer Yeah. So, the historical accounting method is effectively publishing first quarter 2018 results under the old rules so you've got comparability with last year's first quarter. John Hodulik--UBS Securities -- Analyst Okay. And I guess, just doing that, it would seem that the entertainment EBITDA is down sort of in the range of about 19%, if you could sort of confirm that. And then on a sort of apples to apples basis. And then if so, will you just talk about sort of what's driving that pressure? You talked about DIRECTV satellite subs declining, and some of the expenditures you were going through to stand up DIRECTV NOW, and the marketing, and maybe the move to the new platform. How should we sort of expect those drivers to sort of evolve over the course of the year? You know, the satellite losses look like they're picking up on a year-over-year basis. Should we expect that to continue and put sort of further pressure against -- on those margins from that new sort of 22.8% level? John Stephens--Chief Financial Officer Yeah, so a couple of things, John. First of all, I think on a year-over-year basis, our linear video losses are actually less. As you can see on the chart in the middle there, they're actually going on. So, that's an improvement. We've seen some improvement in our churn rate. And as we -- John Hodulik--UBS Securities -- Analyst I was just looking at the -- I was thinking of the satellite over satellite number, like the -- I think the -- is it 188 versus the, I think, zero you did a year ago. I guess the outlook -- yeah, I guess your traditional's gotten a little better, but how do you see the sort of satellite stuff evolving over the next 12 months? John Stephens--Chief Financial Officer So, I think we're gonna continue to see new challenges in the satellite in the linear paid TV models we've talked about. We'll continue to see real opportunities to shift to the over-the-top and continue to grow DTV NOW. And then what we will see is as we come out with our new platform, the one that's in beta, and then quite frankly, some updates that we would hope to have by the end of this year, where you'll start seeing things like cloud DVR revenues; pay-per-view revenues, both sports and movies; some of the opportunities for additional streams; and then eventually, revenues for advertising and data insights, we'll see a replacement of the margins and growth in those margins on an extremely low capital expenditure basis. So, we'll transition through that. That's what our expectation is on that. Am I answering your question, John? That's what I'm trying to do. John Hodulik--UBS Securities -- Analyst Yeah. John Stephens--Chief Financial Officer That's how -- that's the process we're going through. It'll be challenging. It's hard work. It'll take us some time. Not expected to be completed this year, but we are optimistic about total video counts growing over 100,000 and the significant year-over-year improvement in total video, almost 300,000 improvement. John Hodulik--UBS Securities -- Analyst Right. I guess, John, what I'm trying to get at is the sort of margin trajectory from here on a sort of new accounting methodology 22.8. Should we expect sort of a similar trajectory from this new level as we sort of look out through the year, or do we expect it to stabilize as we move through the year, just given all the sort of puts and takes? John Stephens--Chief Financial Officer Yeah. I think we'll see some pressure throughout the year, but starting to stabilize at the end of the year. John Hodulik--UBS Securities -- Analyst Okay. Thanks. John Stephens--Chief Financial Officer I do think we'll see some ongoing pressure through the year. John Hodulik--UBS Securities -- Analyst Okay. John Stephens--Chief Financial Officer Thanks, John. Michael Viola--SeniorVice President of Investor Relations We'll take our next question, Justin. Operator Sure. We have the line of Amir Rozwadowski of Barclays. Your line is open. Amir Rozwadowski--Barclays Capital -- Analyst Thank you very much, and afternoon, John and Mike. John Stephens--Chief Financial Officer Hi, Amir. Amir Rozwadowski--Barclays Capital -- Analyst Hi. Wanted to touch base on the mobility segment. If we think about sort of the competitive landscape and your approach to the competitive landscape at this point, how should we think about sort of the trade-off of subscriber acquisition versus margins? To John's prior question, if we look at it on a like for like basis for mobility, we did see some pressure on a year-over-year basis against the historical margin structure, and just trying to think about the prospects for improving that going forward or how we should think about the puts and takes there. John Stephens--Chief Financial Officer Yes, Amir, it's a good question. The way we're thinking about it is we're making the investments in the customer base from a, if you will, an initial basis. So, in things like BOGOs or offers on equipment, getting that and getting the customers in, and then having that ability to retain them for what is now 120 months, as opposed to moving toward a recruiting tool that would be based on service revenues that would occur every month. So, we're taking that investment on an upfront basis where we can identify it, taking that pressure through margins, certainly, but then knowing that we have this improving churn and this reliability, and the ability then to add other services, whether they be broadband, whether they be video, or whether they be wireless. That's how we're viewing it. So, we've got kind of an ability to turn on and off our investment opportunity and our customers' growth. We've, so to speak, had it turned on in the fourth quarter last year and first quarter this year, but I think you've seen an over 700,000 smartphone improvement in the last two quarters over the prior years' two quarters. So, if we take responsibility for that investment today and get it over with, and then get the benefits not only over the ten years we own the -- the customer stays with us, but quite frankly, start getting the benefits from it in the very next quarter or the very next month as you have that investment behind you. That's how we're thinking about it. That's how we go about it. I will tell you, we're trying different data informed offers, and we're exchanging them when we see things work or not work appropriately. And we'll continue to do that. But the best we can, we've focused on these investments in the customer base that revolve around getting everything upfront, knowing what the total cost is gonna be, and then moving forward. From a competitive environment, we've seen some moderating of the competitive environment over the last few months. There continues to be some changes in that and some offers that we see that we're never sure if they're temporary or permanent. But overall, we have seen some moderation of the environment, and we have, as you can see, performed really pretty well with really, really low postpaid churn, growth in prepaid, and really, really improved growth in the postpaid phone trends. Amir Rozwadowski--Barclays Capital -- Analyst That's very helpful, John. And then, to your point on churn, we continue to see it decline on a year-over-year basis. What is your expectation through the course of the year? As you mentioned, we are seeing some changes in the competitive landscape. Is the expectation that you're able to continue to drive churn lower through the course of the year? John Stephens--Chief Financial Officer Yeah. We haven't given specific effort to improve churn stability as it is, but we're sure striving to continue to improve churn over a year-over-year basis. Our strategy, though, really gets to what we've seen as when we're able to bundle it with another service, a broadband, a video, wireless, any two or three of those together, we see better churn. And so, we also have that, and that's a differentiating viewpoint or a differentiating capability that we have uniquely that others don't. And so, when we can do that, we do have some optimism about the ability to not only maintain these great churn levels, but even see some further improvement, like we did this quarter or sequentially in year-over-year. Amir Rozwadowski--Barclays Capital -- Analyst Thank you very much for the increments of color. John Stephens--Chief Financial Officer Yup, thanks. Operator Next, we have the line of Simon Flannery of Morgan Stanley. Your line is open. Simon Flannery--Morgan Stanley -- Analyst Great. Thank you. Good afternoon, John. On the video programming, I think Randall reportedly made a comment around introducing an AT&T watch offering for $15.00 bundled with wireless. Maybe if you could just give us a little bit more color about that and what sort of timing we have around that? And then coming back to wireless, I know that the upgrade rate ticked up 4.3 from 3.9, and I think you'd in the past talked about going through this period of very low upgrade rate, and it could start to normalize over time. So, it would be great just to understand, was before three, do you think you're getting back to a more normal rate now, or any color around how long people are keeping handsets and renewing them? Thanks. John Stephens--Chief Financial Officer Okay, thanks, Simon. Good question. So, first of all, our upgrade rate, and quite frankly, both the upgrade and the gross ads numbers, so we had about half a million more devices in the first quarter in the upgrade rates and the gross ads. So, we had a big step-up. I think that was due to a lot of things. It was due to great offers that the team put out. I think there was some kind of demand for new innovative devices, and there may have been some change in the fact that devices have gotten another quarter older and people wanted an upgrade. But I think the biggest driver was really our offers. That's one thing. Two, that cost of pressure with regard to expenses on this comparable basis. If you use the comparable basis, then a lot of those expenses, particularly with regard to BOGO type offers, might fall under the bottom line and cause the pressure there. And then, so that's a reality. On those, we're more than willing to pay that, if you will, make that investment to get the long-term and, quite frankly, the immediate short-term additional revenues. I don't know that the upgrade rate itself because the age of devices has changed that much. I do believe our offers drove the increasing upgrade rate, and the new iPhones may have driven some of it because of the limitation and the lateness that they came in in the fourth quarter, and some of our customers using BOGOs to buy those in the first. So, that's how I view that. We'll continue to watch it. I don't believe we're gonna go back to the historic upgrade rates. I think those are clearly a matter of history. And even though the fact that we're talking about 4.3% being a big increase in the upgrade rate, and it gives you the sense of -- we used to talk about normal upgrade rates being a lot higher percentages. With regard to the video programming, let me just add, as we move forward through this year and are able to continue to innovate, we'll have a lot of offers in wireless and broadband and video. One of those would be the one that you were referring to that Randall mentioned, a DTV watch type program. We'll leave it to my marketing and sales team to come out with the details on that. I know they're gonna do a lot better job of it than I could. But I think the more important message is that we are willing to innovate. We are willing to try some different things to grow the customer base in the right way and continue to grow the overall business on a bundled basis. Simon Flannery--Morgan Stanley -- Analyst Sure. Thank you. John Stephens--Chief Financial Officer Thank you. Operator Next, we have Mike McCormick of Guggenheim. Your line is open. Michael McCormick--Guggenheim -- Analyst Hey guys. Thanks. John, really just circling back on the entertainment group and sort of pressures there, just thinking about -- I think Randall recently was quoted as comparing it to the legacy wireline voice business of old, and I don't think there's much argument that linear's under tremendous pressure. But as you look at that unit or that segment, how much of the cost is variable? And as you sort of think about the piece parts within that, which parts of it can you reduce sort of with the subcounts versus more structural fixed costs? And then on the content cost side, which I presume is mostly variable, what benefits are you guys getting as far as cost goes or negotiating power goes with the programmers for the DIRECTV NOW product? John Stephens--Chief Financial Officer Yeah, again, Mike, good question. A couple of things. I guess I view all of our -- I view the cost this way. On the video entertainment piece of it, on the video side, that content is variable with regard to the packages we sell. But I also think there's some opportunity going forward to be variable with regard to within the packages. And I think -- and we've made reference to possibly some offers, possibly getting to a point where we have differentiated offers with different packages. We have some today continuing to do that. So, I think there is some, not only just based on the volume of customers, but also based on what the customers want to buy, and we'll continue to look for that. On the high-speed Internet side or the broadband side, I would suggest to you what we've been building into, the $8 million fiber, right, quite frankly is something we still have a lot of selling to do into. And so, that capital's been spent in that capacity to serve is already out there. We're just in this process of growing this IP broadband base and serving it. So, I would suggest to you that that could be a change or provide new direction, particularly as we've gone through the legacy DSL conversions, which has really been absorbing us for the last few years. On the legacy voice and data, those challenges continue to be there. Those costs are either -- have been managed out or continue to be managed out. That's how we think about this, but the real -- on the video side, the real growth here is gonna be in these alternative services, whether it's cloud DVRs, pay-per-views, data insights, advertising, doing those kinds of things while growing broadband at a high-speed level and continuing the success we've had. And then, as you look at that entertainment group, bundling the two of those together, but also bundling all of that with wireless. And so, that's the real strength in it. That's what makes it worth all the efforts that we're going through to transition it. So, it's not just one individual piece, but it's the collection of those pieces that make this very attractive. Michael McCormick--Guggenheim -- Analyst Great. Thanks, John. John Stephens--Chief Financial Officer Thank you. Operator Next, we have Brett Feldman of Goldman Sachs. Your line is open. Brett Feldman--Goldman Sachs -- Analyst Hi, thanks for taking the question. The first one is just a quick housekeeping question. The new USF accounting, you noted that it's neutral to operating income. Can you clarify, is it also neutral to EBITDA? I think that might help some comparability. And then just coming back to the entertainment segment, the U-verse video base has been remarkably flat. Particularly, I think you added a customer, a couple customers this quarter. I was hoping maybe you could provide a little more insight as to why that is. And is that more directly tied to the adoption of your residential fiber product and perhaps what we're seeing the satellite trends? Thanks. John Stephens--Chief Financial Officer A couple of things. One, yes on EBITDA, the USF revenue and expenses are both in the EBITDA calculations, so they will net to zero. It won't have change to EBITDA. I will tell you, though, Brett, to be clear, in prior years that USF revenue was in service revenues. And so, it impacted service EBITDA margins. Not EBITDA itself as a number, but the margins. We believe this will give you a better picture of what we actually collect from customers on our behalf versus what we collect on the customer -- the government's behalf, much like sales taxes, which we had never previously counted as service revenues. So, you're right, it does affect EBITDA operating income or EBITDA. The starting point, though, would be it would have an impact on service revenues. Brett Feldman--Goldman Sachs -- Analyst Got it. John Stephens--Chief Financial Officer The U-verse, I think essentially a couple of different things. One, the fiber build and the fiber capability, the broadband capability, make that natural bundle very good. Two, U-verse is in our historic legacy telephone company footprint, where we generally have very good wireless capability distribution, and have had actually better results in bundling when we have all aspects of that. So, that's another point. Brett, I would tell you the need to migrate U-verse into satellite to take advantage of differentiating content cost is ebbing, or is greatly reduced than possibly it was when we first merged with DIRECTV. All of those things are part of the process. And quite frankly, customer satisfaction with the U-verse product is probably the most important consideration, that people are happy. So, those are all things that contribute to that aspect. Brett Feldman--Goldman Sachs -- Analyst Just a quick follow-up question. I think you had previous indicated that when the DIRECTV satellite product was being sold in your landline reach, and you were seeing better results there because you could bundle with broadband. Is that still playing out, or are you finding that the U-verse video product is still a much more natural bundle with your broadband offer? John Stephens--Chief Financial Officer I won't say in comparison to the two, U-verse compared to satellite, but I will tell you that we do believe that we do better and have better churn stats when we can bundle video, both satellite and U-verse. U-verse kind of by definition. But satellite, we have better churn results and better customer experiences when we can bundle with our IP broadband. And to that point, just another reason for the fiber build and the opportunities that it presents, as well as -- like FirstNet will provide, quite frankly, all our satellite customers with regard to the potential for much better quality wireless service. So, all of that kind of plays together. Brett Feldman--Goldman Sachs -- Analyst Thanks for taking the questions. John Stephens--Chief Financial Officer Sure. Operator Next, we have the line of Philip Cusick of JPMorgan. John Stephens--Chief Financial Officer Hi, Phil. Philip Cusick--JPMorgan Securities -- Analyst Hi, guys. Thanks. Hi, John. First, a follow-up. You were fairly aggressive in the first quarter in wireless compared to previous first quarters, but a lot of those promotions fell away in April. Should we think about this as a new level of aggression for the full year, or are you just changing up the seasonality? And then the bigger question, John, the online and addressable advertising business seems to be under fire on a lot of fronts, and there's some increased investor preference lately for online subscription businesses. How do the headlines impact your thinking around AT&T's strategy of accruing content in the OTT transition and the trade you seem to be making of giving up subscription revenue to drive subscribers in an effort to build the targeted advertising opportunity? Thanks. John Stephens--Chief Financial Officer So, Phil, with regard to aggressiveness, I would suggest to you, we had the capabilities to be aggressive in the first quarter. We did that. We tried different things. As you can tell, we did that in the fourth quarter too. And as you pointed you, we changed them as we've gone through to make sure we -- what we were doing was working and was getting the results -- not only just results, but the results we wanted. And we're continuing to focus on data informed decisions in that light. What I'd suggest to you is what you'll continue to see is something like the free offers that we've I guess recently put out in the marketplace in New York, where we're using video as an opportunity to attract customers; in Chicago, where we're using our capabilities with regard to broadband to attract customers; or in Los Angeles, where we're using wireless. We're trying to be market directed, market informed, and trying to put offers out that'll, if you will, make a difference. You can expect to continue to see us change some things, try some things. We might do a BOGO, and then we might do a second one is at 50% fee as opposed to a full BOGO. I think we recently did that with our wireless offering. So, you'll see us make changes on a regular basis. We're trying to, if you will, make sure we're willing to invest in this opportunity and the customer base to grow the business and the opportunities for long-term. I don't want to suggest that our, if you will, investment levels will continue to be at the same level they were in the first quarter. We'll go through that process as we go through the year and make the right decisions for the short-term and the long-term for the business. But I do expect we'll continue to look at things on a regular basis, as we've been doing even here in April. With regard to the recent issues with regard to -- I'll call it customer data and customer, if you will, rights with regard to that data, we continue to respect our customers. We've been the guys who've been in the business of, if you will, simply put, unlisted numbers for a hundred years. We understand customers' data and privacy and how to deal with that. We're the ones who have pushed for a consumer bill of rights and pushed that legislation earlier this year, long before this became a headline story of the recent month. So, we continue to believe in, if you will, respecting your customers' privacy and treating them the right way will provide the long-term results. With that being said, we continue to believe in the processes and practices we have in place as being appropriate, and we continue to believe that there is a space for us as a trusted advisor and a trusted player in the data insights and data privacy space for our customers and for the advertisers who are clearly looking for a trusted partner in that space. Philip Cusick--JPMorgan Securities -- Analyst Thanks, John. John Stephens--Chief Financial Officer Thank you. Operator Next, we have the line of David Barton of Bank of America. Your line is open. David Barton--Bank of America -- Analyst Hey, John. Thanks for taking the questions. John Stephens--Chief Financial Officer Sure. David Barton--Bank of America -- Analyst So, first question would be, if you could kind of maybe elaborate a little bit more on where we are kind of on the FirstNet go to market process. Have you stood up the sales force? If you have, what exactly are they selling and to who? And when can we think about the market share opportunity that you have there starting to feather into your kind of gross ad market share and net ad share in the market? And then the second is, a year ago first quarter, the postpaid phone net ad market was a couple 100,000 phones. If we look at what you and Verizon and Comcast have done and make a few educated guesses about T-Mobile and Sprint, year-over-year, that's gonna be three to four X this quarter. And if I looked at last quarter, it was actually up 50% year-over-year. What do you think is kind of driving this phenomenon, where the postpaid phone net ad market just seems to be kind of growing out of thin air? Is it the economy? Is it prepaid to postpaid migrations, DYOD? I'd love your theories there to kind of explain it, and then whether we can maybe assume it's gonna continue for the rest of the year or whether this is kind of a transitory effect. Thanks. John Stephens--Chief Financial Officer So, I think it depends, David. I don't doubt -- let me say it this was. For us, we're both growing at an improved postpaid phone, improved 300,000, while we still had almost 200,000 -- that is, about 190,000, 200,000, but almost 200,000 prepaid net ads. So, for us, we're seeing continued good -- really good performance of prepaid, but really good performance in the smartphone. So, we're seeing a total growth in those phones. That's what we're seeing. I think others are seeing some conversion from prepaid to postpaid. I wouldn't -- that may be at the customer's decision just based on pricing opportunities or, if you will, plans that are out there. But we are seeing continued growth in both for us. I do understand your question, and we'll wait and see about what happens with the total marketplace. I don't have a total view of that marketplace. I don't think anybody does, because some of the companies haven't announced and so forth. But in our, if you will, piece of the marketplace, you saw us now with two quarters in a row, over the last two quarters, a 700,000 improvement in postpaid smartphones and continuing good performance, solid performance in prepaid. So, we are -- we believe that we're doing very well in the share part of the game. I would also tell you there's other aspects of things in the postpaid net ads, as you all know -- whether tablets are going, whether and how people count watches and other devices. I'll leave that to you all to decide and to evaluate. But on the phones, we feel pretty good about getting good value for the investment plans we put out there, and a great opportunity to generate value short-term, the month after, with regard to the revenues these guys are gonna generate and over the long-term because of our churn being so low. With regard to FirstNet, FirstNet's something that we're really excited about. We're very excited about getting the only, the exclusive authorized FirstNet core up and running last month. We really do believe that that's critical to be able to provide the services and to provide the quality of service that those first responders deserve and need. We had set up a FirstNet team last year. An individual by the name of Chris Sandbar runs that for us. We added marketing and staff and sales people. We've spent money, if you will, and time over the -- at least over the last nine months, if not longer -- almost a year, I guess, getting to know our potential clients, getting into the industry, making a bigger effort to be a known player. With regard to that, as I mentioned earlier, we've actually had about 600 or so, if you will, departments sign up with those. And those 600 departments came from over 48 states, because they can use -- we can provide FirstNet quality services on our existing LTE network once we've established this core, which we did last month. So, they can get relentless or ruthless pre-emption, and they can get priority services. And that can all work now. We can provide that. Now, some of those folks that we signed up could have been our customers before and they just want to migrate to FirstNet, and that'll be part of the process. But quite frankly, I think we've been very pleased about the reception we've been given to at least talk to people that previously weren't our customers. And on a per person basis, if you will, somebody's a first line, first responder, you're thinking about two or three or potentially four connected points, whether it be a body cam, whether it be a phone, whether it be a tablet for their care, whether it be some drone or some other device they'd use. But you also look at it from the ability to contact with the smart cities, their employers, so to speak, and whether we can sell other services there. We're also looking for the in-house personnel, the dispatch people that work at the police stations, or other personnel, and whether we could have an opportunity to sell there. And then of course, there's always the friends and family approach. So, we're very pleased. First of all, we've got a FirstNet team already set up. They're very active. They've already gotten a number of contracts done in over 40 states. And we continue to be very excited about it. We will get a significant amount of the Band 14 up this year, and we are expecting to at a minimum meet and hopefully exceed all the milestone requirements that FirstNet has given us. So, if I sound pretty positive about it, I am. David Barton--Bank of America -- Analyst Thanks, John. John Stephens--Chief Financial Officer Thank you. Operator Next, we have the line of Amy Yong of Macquarie. Your line is open. Amy Yong--Macquarie Bank -- Analyst Thank you. Maybe if you could talk a little bit more about the advertising opportunity and size up the near-term marketing opportunity for us. How quickly do you think you could ramp this up? And then maybe some of the growth trends that we should be looking at for this year next. And then just very quickly on the 5G fixed wireless trials, how big is the residential broadband market opportunity as we think about '19 and beyond? Thanks. John Stephens--Chief Financial Officer So, on the advertising, let me make sure I point out, this quarter, we were up 9% in revenues. We got a base of about $350 million a quarter, in that range. I don't have the specific number at my fingertips here. And we grew it about 9%. So, the team is actually proving that this works already with our existing, if you will, inventory of ads that we get as the distributor from the content folks. So, we're making it work. We're getting higher CPMs, and getting higher revenue streams, and making it more effective. We feel really good about that. As we go through this year, we hope to add a lot more inventory from underneath our umbrella of ownership companies to that. And we'd like to develop that. If you think about the overall digital market, I don't know the exact numbers, but I think last year, the overall digital advertising market in the U.S. was north of 60 billion, and some estimates put it in the 80 billion range. We're not a -- what I would call, in that piece, a significant player. We believe that we can be. We have the capabilities to be. And we've made the investments, not only in the personnel and the team that Brian Lester's established, but we're also making the investments in the data capabilities and our big data engines inside our company today. So, we feel really good about that opportunity. If you think about linear TV and the opportunity to grow that revenue stream, if you think about digital and the opportunity to grow that, and then you think about the opportunity to take all of our digital insights and data insights and help advertisers make sure their advertising is working effectively and efficiently, we believe that there's a real opportunity there. So, all of that being done within the appropriate rules and data protection activities. So, we feel really good about that. With regard to the fixed G wireless, if you will, our test has showed it can be done. We can do it. The opportunity there is something we'll have to prove out. We're not as excited about the business case. It's not as compelling yet for us as it may be for some. The reason we're still -- we don't see that, if you will, the question is, is to get that fixed wireless to the residential, you still have to have backhaul from where the -- you know, 1,000 feet away, 1,500 feet away, and you still have to have that backhaul infrastructure. So, that could be, depending upon your ability to successfully pick who's going to buy and how much you're gonna need, it's gonna be a very tricky business case. For us, with this extensive fiber negative, we will be able to have that backhaul. With this expansive FirstNet network, we'll be able to have that backhaul. But quite frankly, if we've got FirstNet and we've got fiber there, it may be just as effective and maybe even a better quality product to give those customers fiber to the home. So, we're continuing to work at it. I just don't want to hold it out and say right now, we are more excited, as you can tell from the statements I've made about our FirstNet opportunity, about the fiber capabilities that we're building and selling into that, and quite frankly, about the overall 5G Evolution and 5G capabilities in our overall mobility network serving much of the mobile broadband demands that are out there, requirements that are out there. Amy Yong--Macquarie Bank -- Analyst Great. Thank you. John Stephens--Chief Financial Officer Thank you, Amy. Michael Viola--SeniorVice President of Investor Relations And Justin, we'll take one more question. Operator Certainly. Last, we have the line of Frank Lapin of Raymond James. Your line is open. Frank Louthan--Raymond James & Associates -- Analyst Great, thank you. Give us a little bit more color on maybe the free cash flow aspects in the entertainment business as you're switching more to the DIRECTV NOW product. That would be great. And then on the 5G, it seems the device is being available late '18. Can you give us a little bit more color on exactly what devices you're waiting for for before the launch? Thanks. John Stephens--Chief Financial Officer Okay. With regard to the 5G, let me make this point. On the 5G Evolution, those devices are not only available now, many of our customers already have them. And so, the speeds we can do with 5G Evolution by putting up all our spectrum with regard to FirstNet, using four-way carrier aggregation, which allows us to band the spectrum that we've put up now all together, and having four-way MIMO, which is, if you will, an efficient and quick way to let customers access the network and exist the network. Those speeds are working today, and in our test in San Francisco, we got 750-meg speeds on our network. On a full network, that might be 10 to 20% of that level, but we believe we can get 100-meg speeds on our 5G Evolution network with handsets that are already out there today in people's hands and are coming through the rest of the handset manufacturer base over time. So, I just want to point that out. That's one of the reasons why the FirstNet, with the technology developments a carrier adds, and four-way MIMO with 256 QAM and all these other things combined, as well as the new spectrum, Band 14, gives us real excitement about the ability to serve customers really, really well. On the 5G, I think by the end of this year, we'll have 5G networks up. The device that'll be out or devices that'll be out will probably be pucks and the ability to connect to a puck. And then we'd expect to see what I'll call handset devices or tablets, or those type of what I would -- I think many of us would normally think of as devices, those would be out in '19. And as Simon referenced earlier in the call, we've got, if we will, upgrade cycles that are some 5% a quarter, so there may be some time to getting those 5G handsets up and running, so to speak. So, we'll see how that goes, whether that changes the upgrade cycles or not. But all of that is, for us, points to this 5G Evolution can be a really beneficial thing for us, because that's available in many, many handsets today. On the free cash flow side, if you will, Frank, I guess I'll say it this way, moving to the DTV NOW platform or moving to a thin client platform eventually for the home is really gonna change the free cash flow aspects because the upfront truck roll cost, the upfront, if you will, climb the roof costs, all of that can change, as well as some of the things with regard to billing and administrative costs, the fact that it's an automatic bill or it's a credit card bill. All of those things will change. But that's one of the attractivenesses of the DTV NOW, is the economics, about not having that upfront investment. That'll turn into savings from an upfront investment from a cash flow perspective. So, that's why this thing will -- we strongly believe it'll work long-term. With regard to our first quarter free cash flow, I do want to make one point. First of all, first quarter's always low for us because of bonuses and other things. We had a huge handset sales in the fourth quarter and the first quarter. 500,000 up year-over-year in the first quarter, 700,000 up year-over-year in the fourth quarter. And many of those sales in the fourth quarter, we actually paid for the phones this quarter, because they were late in the quarter last year when they were sold. So, we had a lot of cash flow pressure from handsets that'll reverse itself. It'll wash itself out. And I just want to point that out. So, we feel good about our free cash flow. Keeping it in that $21 billion range is the guidance we've given, as well as keeping all of our guidance intact. Frank Louthan--Raymond James & Associates -- Analyst Okay, great. Thank you. John Stephens--Chief Financial Officer Thank you, Frank. With that, I want to thank everybody for being on the call today. Well, we're off to a fast start in 2018, both in growing our customer base and in building the world's premiere gigabyte network. We continue to add new subscribers in wireless broadband and video, and we are on track to turn wireless service revenues toward growth this year. The FirstNet build is kicking into gear, and we launched the nationwide FirstNet dedicated network core last month. We're working hard to build something great for first responders, and early response from our sales activities has been very positive. We're also moving full speed on our 5G Evolution, and expect to be the first U.S. carrier to introduce mobile 5G later this year. Behind all this is our expanding fiber network, which is the backbone for all our networks, both wireless and wired. And of course, we optimistically await the conclusion of our Time Warner court case and the court's decision. One last thought. As you make your way home tonight, please remember, not text is worth a life. It can wait. Please be safe. Thanks again for being on the call, and as always, thank you for your interest in AT&T. Have a good evening. Operator Thank you, and that does conclude our conference for today. We thank you very much for your participation and for using AT&T's executive teleconference service. You may now disconnect. Duration: 63 minutes Michael Viola--SeniorVice President of Investor Relations John Stephens--Chief Financial Officer John Hodulik--UBS Securities -- Analyst Amir Rozwadowski--Barclays Capital -- Analyst Simon Flannery--Morgan Stanley -- Analyst Michael McCormick--Guggenheim -- Analyst Brett Feldman--Goldman Sachs -- Analyst Philip Cusick--JPMorgan Securities -- Analyst David Barton--Bank of America -- Analyst Amy Yong--Macquarie Bank -- Analyst Frank Louthan--Raymond James & Associates -- Analyst More T analysis This article is a transcript of this conference call produced for The Motley Fool. While we strive for our Foolish Best, there may be errors, omissions, or inaccuracies in this transcript. As with all our articles, The Motley Fool does not assume any responsibility for your use of this content, and we strongly encourage you to do your own research, including listening to the call yourself and reading the company's SEC filings. 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(NYSE: T) Q1 2018 Earnings Conference Call April 25, 2018, 4:30 p.m. ET Contents: Prepared Remarks Questions and Answers Call Participants Prepared Remarks: Operator Ladies and gentlemen, thank you for standing by, and welcome to the AT&T First Quarter of 2018 Earnings Call. At this time, all of your participant phone lines are in a listen-only mode, and later, there will be an opportunity here for your questions. Instructions will be given at that time. If you need any assistance during the call or presentation, please press * followed by 0 for us. I would now like to turn the conference over to our host, Michael Viola, Senior Vice President of Investor Relations. Please go ahead, sir. Michael Viola -- Senior Vice President of Investor Relations Thank you, Justin. Good afternoon, everyone, and welcome to our first quarter conference call. Like Justin said, this is Mike Viola. I'm the Head of Investor Relations for AT&T. And joining me on the call today is John Stephens, AT&T's Chief Financial Officer. John's going to cover our results and provide business updates, which will include progress on FirstNet, and then we'll follow that up with a Q&A session. As always, our earnings materials are available on the Investor Relations page of the AT&T website. That includes our news release, investor briefing, 8-K, and a variety of associated schedules. More From The Motley Fool 3 Growth Stocks at Deep-Value Prices 5 Expected Social Security Changes in 2018 6 Years Later, 6 Charts That Show How Far Apple, Inc. Has Come Since Steve Jobs' Passing 10 Best Stocks to Buy Today The $16,122 Social Security Bonus You Cannot Afford to Miss Bitcoin's Biggest Competitor Isn't Ethereum -- It's This Before we begin, I want to call your attention to our Safe Harbor statement. That says that some of our comments today may be forward-looking. As such, they're subject to risks and uncertainties, and those results may differ materially. And additional information is always available on the Investor Relations website. I also want to remind you that we're in the quiet period for the FCC CAP II auction, and so we can't address any questions about that today. Story continues And so now, I'd like to turn the call over to AT&T's CFO, John Stephens. John Stephens -- Chief Financial Officer Thanks, Mike, and thanks for joining us on the call today. Let me begin with our financial summary, which is on slide three. As we mentioned late quarter and noted in an 8-K filed last month, AT&T was required to adopt several new accounting standards this year. These new accounting standards deal with reporting issues around revenue recognition, pension costs, financial instruments, and cash receipts on installment receivables. These changes have some impact on our income statements and our cash flows. And in connection with adopting the new standard on revenue recognition, the company will now record universal service and other regulatory fees on a net basis, consistent with how we have traditionally reported other pass-through items like sales taxes. This specific change will reduce both revenues and expenses by a little more than $900 million this quarter, but will -- they will not impact operating income or net income for the quarter. In addition to GAAP, we're providing comparable historical results to help you better understand the impact on financials from revenue recognition. We will be referring to these historical results in our comparisons during this call. Tax reform gave us the opportunity to invest and grow our customer base. These investments drove a significant year-over-year improvement in postpaid phone net ads, the second highest broadband quarter in three years, and solid growth in video as we transition our TV business. Our adjusted EPS for the quarter was $0.85, up about $0.15, with benefits from tax reform and revenue recognition offsetting the cost of investing in our growing customer base, and a small amount of pressure from the new financial instrument reporting rules. Adjusted consolidated operating margins for the quarter were up year-over-year on a reported basis, but down on a comparable basis. Our increased sales activity this quarter drove much of the pressure we saw, as did continued transition of video from linear to over-the-top services. But at the same time, we did see margin improvements in business wireline and international. Next, let's cover revenue, which was $38.9 billion, down from a year ago. Higher wireless equipment and strategic service revenues partially offset declines in legacy services, the ongoing impact of the video transition, and our decision to no longer pursue some low-margin businesses. Cash flow statements have been recast to show the impact of the new accounting standard with installment receivables, so year-over-year cash flow results are comparable. The first quarter's traditionally our lowest free cash flow quarter, and this year's no different. Several items impacted free cash flow, including our annual employee bonus program, a larger than usual handset payment from the very strong gross ad and upright performance during the late holiday season in the fourth quarter and continuing into the first quarter. We also had unreimbursed FirstNet expenditures in this quarter. Offsetting some of this pressure was the tax refund we received in the first quarter, which was generated by the passage of the Tax Reform Act in late December of last year. We're still on plan to meet the free cash flow guidance we gave you in January. That guidance of free cash flow in the $21 billion range included the pressure from the receivables accounting change. Capital spending was $6.1 billion in the quarter. Let's now take a look at our operations, starting with mobility, where the team turned in solid customer growth. Those details are on slide four. AT&T domestic mobility operations, as you know, are divided between the business solutions and consumer wireless segments. For comparison purposes, we're providing supplemental information for its total U.S. wireless operations. Strong sales activity in a usually quiet quarter help drive a turnaround in postpaid phone net ads. Postpaid phone net ads showed a more than 300,000 phone improvement compared to the year ago first quarter, which is now a more than 700,000 year-over-year improvement in the last two quarters. Prepaid phones also came in strong, with about 190,000 new subscribers. And that's helped our Cricket customer base grow. And today, it totals nine million customers. Congrats to our management team that runs Cricket. And we increased our branded smartphone base by nearly 500,000, topping 73 million by the end of the quarter. Churn keeps improving. We had another record low first quarter postpaid phone churn of 0.84%, improving both year-over-year and sequentially. All together, we had more than 2.26 million new subscribers -- that's domestic subscribers -- with gains in postpaid, prepaid, and connected devices, more than offsetting our continued losses in resellers. Revenues were up more than 3% in the quarter thanks to our strong smartphone sales, while service revenues were essentially flat sequentially. We're confident that service revenues will improve throughout the year. We still expect that we'll be positive for the full year on a comparable basis. There are several reasons for that. First, we're not through the toughest year-over-year compare, as we lap the introduction of unlimited plans that came out in the first quarter a year ago. We're adding postpaid, prepaid, and connected devices subscribers at rapid rates, and the pressure from resellers stabilizing. Recent new product offerings will also help. Our strong sales activity also had an impact on margins. Postpaid smartphone gross ads and upgrades increased by about 500,000 year-over-year. That's an upgrade rate of 4.3%, which was higher than last year. Still, service margins came in at 48.1% on a comparable basis. Our long-term strategy to build our branded phone base and improve churn with bundled services continues to pay off. Postpaid smartphones have increased by almost $2 million in the last two years. Prepaid smartphones have also increased at a solid clip, growing by $3.4 million in the same timeframe. That's a more than $5 million gross in our overall domestic smartphone base. At the same time, a growing number of our existing mobility customers are bundling their wireless with our video and our broadband services. These are our most valuable customers, with churn significantly lower than single service customers. These results are very encouraging, and gives us the confidence to continue to carefully invest in our customer base. Now, let's take a look at our entertainment group results on slide five. The positive impact of TV and broadband promotions and our ability to bundle services can be seen in our entertainment group results. Total video customers, broadband connections, and bundles all grew. DIRECTV NOW continues its solid run of subscriber growth. More than 300,000 DTV NOW subs were added in the first quarter, giving us nearly 1.5 million customers in service. This over-the-top video growth has helped us manage the industrywide transition of linear TV subscribers to over-the-top services. Looking at total video subs, we actually have more subscribers today than we did two years ago because of the success of DIRECTV NOW. This is especially important at a time when the industry is seeing the increasing pressure from customers cutting the cord. Transitions such as this are never easy, but we have shown that we are able to do this time and time again, whether it be with our voice, our broadband, or our wireless services. We don't expect video to be any different. We do expect revenue and margin pressure as we manage through this, especially this year. But we're excited about DIRECTV NOW's product improvements, and our new user interface that we're beta testing right now and expect to roll out soon. This has cloud-based DVR capabilities and supports an additional video stream per account. Later this year, we expect a more robust VOD experience and new pay-per-view options to be released. These new services will add new revenue streams to help counter some of the revenue and margin pressure we are dealing with. The over-the-top model also is low touch, with significantly lower subscriber acquisition costs and less capital investment. As we manage the over-the-top transition, we are completing our broadband transition from DSL to IP broadband. About 800,000 of our residential broadband customers are still on legacy DSL. That compares very favorably to about 4.5 million legacy DSL customers just for years ago. So, we are managing through this transition. This has helped drive growing broadband momentum for us. We had 154,000 high-speed broadband net ads in the quarter and 82,000 total broadband net ads. Our fiber build now passes more than eight million customer locations, nearly all consumer, and you see its impact on our broadband numbers. Customer response has been terrific. In areas where they have been marketing fiber for the last two years, our penetration rate is nearly 50%. That's quite a bit higher than in our non-fiber markets and leaves us a lot of room to run over the next couple years. Now, let's look at business solution results on slide six. As a reminder, wireless subscribers, and specifically individual wireless subscribers, who buy off a company plan have been moved from business solutions to consumer mobility. Historical financials have been recast to reflect that change. Business solution revenues were down slightly, as gains in wireless and strategic business services help to offset declines in the legacy services. Wireless revenues were up nearly 4%. Equipment revenues were up with increased sales, while services revenues were essentially flat. Wireline revenues were down about 3% year-over-year, an improvement over recent quarters, and similar to what we saw in the fourth quarter. This improving trend in wireline is encouraging. And this comes before any expected bump from business activity that we might see with tax reform. Another positive is the significant improvement in business wireline margins, where EBITDA grew year-over-year and margins were up 190 basis points on a comparative basis. The team continues to do a great job in driving cost management initiatives. We're also beginning to see operating expense savings from our move to a virtualized software defined network. More than 55% of our network functions were virtualized at the end of '17, and we expect to have 65% virtualized by the end of this year, well on our way to meet or exceed our goal of 75% virtualized by 2020. Our international business also turned in another strong quarter, thanks to solid revenue gains in Mexico. These results are at the bottom of slide six. Revenues were up more than 7%. EBITDA was up significantly, thanks to strength in Latin American and improvements in Mexico. Subscriber growth continues to be strong in Mexico. We added more than 500,000 new subscribers in the quarter and more than three million in the past year, and now have 15.6 million customers in total. Reported service revenues were down slightly due to our first quarter decision to shut down a wholesale business that we inherited from Nextel. Without that roughly $90 million reduction in revenues, reported service revenues were up year-over-year. And our Latin America satellite operations continue to be profitable and generate positive free cash flow. Over the last few quarters, we explored the possibility of issuing an IPO for our DIRECTV Latin America video properties, but ended up withdrawing our offer. We just didn't believe it was the right time to transact. Current market conditions obviously played a role, and trade, interest rates, market volatility, and foreign exchange all played their part. DIRECTV Latin America has been a steady performer for us, contributing both profitability and free cash flow. We'll continue to look for ways to unlock the value of those properties for investors, while increasing our optionality. Now, I'd like to provide you updates on our Time Warner acquisition and our goal to build the world's premiere gigabyte network. Those details are on slide seven. I'm not sure I need to update anyone on the status of our bid to merge with Time Warner, but here's the latest. Both side are wrapping up their cases and are now preparing for closing arguments on April 30 th . After that, we'll wait for the court's ruling. Based on the court's determination, we stand ready to close. Funding is in place, even after we settled a special mandatory redemption bond. There's not much more we can add at this point. I'd also like to update you on our ongoing efforts to improve our networks. FirstNet continues its strong start. We launched the first and only nationwide FirstNet dedicated network core last month. This network core acts like the brains and nervous system of FirstNet, and is on physically separate hardware. Only FirstNet traffic will move through this core. This will serve as a springboard for ongoing innovation and advanced functionality, delivering value-added capabilities and benefits that commercial cores can't match. This includes always on access to priority and ruthless pre-emption. The FirstNet network also is open for FirstNet ready and FirstNet capable devices. These devices support all AT&T commercial LTE bands and the FirstNet Band 14, and meet band priority selection technical requirements. So far, nearly 650 agencies across 48 states and territories are already subscribing to FirstNet services. We see this as a real growth opportunity. We've also started the heavy lifting of putting Band 14 on our towers. Over the next five years, we'll be putting Band 14 on tens of thousands of new and existing sites nationwide. We plan to touch about a third of our cell sites this year alone. Our new Crown Castle agreement will help us speed this process. The agreement simplifies and expands our long-term leasing deal for wireless network infrastructure. This will give us more flexibility as we deploy FirstNet as well as 5G technologies. We're working hard to build something great for first responders. With the introduction of the FirstNet core, first responders finally have the network that they have been asking for and that they deserve. In addition to our efforts with FirstNet, 5G and 5G Evolution work continues its accelerated development in several different areas that will pave the way to the next generation of higher speeds and quality for customers. 5G Evolution is made up of carrier aggregation, 4x4 MIMO and 256 QAM technologies, along with LTE local assist access, or LTL-AA. These are building blocks toward the transition to 5G and will deliver speeds substantially faster than LTE. 5G evolution has now expanded to 141 markets, and we expect to reach more than 500 markets by the end of the year. Our fixed 5G trials also are providing valuable, real-world millimeter wave spectrum experiences both to businesses and residential customers. We're seeing gigabyte-plus speeds under line of sight conditions for distances up to 900 feet and with extremely low latency rates, some as low as nine milliseconds. These trials have shown that millimeter wave is able to penetrate foliage, glass, and even walls better than anticipated with no discernable signal performance impacts due to rain, slow, or other weather issues. Granted, these are early results in trial conditions. But we are excited about what we have seen so far. The backbone for 5G or any wireless network is fiber. And our fiber network is extensive and growing. We're on track to surpass our commitment as part of the DIRECTV deal to build fiber to 12.5 million customer locations. We now reach more than eight million locations with fiber and plan to hit 10 million by the end of this year. This is in addition to the eight million business locations that we pass today within 1,000 feet with fiber. These 16 million locations and the more than one million route miles of fiber in our overall network are the backbone of our network and our move to 5G. With FirstNet, 5G, and fiber build, our network has never moved at a faster pace. We're excited about the progress we're making and even more excited about where our network will be in a very short time. That's it for my presentation. Mike, I'll turn it back over to you for Q&A. Michael Viola -- Senior Vice President of Investor Relations Okay, thanks. Justin, we're ready to take questions. Questions and Answers: Operator Most certainly. Thank you. Ladies and gentlemen, if you'd like to queue up here for a question, please press * followed by 1 now for us. And just a reminder, if you are using speakerphone, it might be helpful to lift the handset before pressing those number keys. First, we have the line of John Hodulik of UBS. Your line is open. John Hodulik -- UBS Securities -- Analyst Okay. Thanks, guys. Maybe first starting on the entertainment group, really, on slide five. John, I just want to make sure I'm sort of reading this correctly in terms of the exhibit you put here, that sort of everything left of that vertical line is sort of historical accounting method, and if that's true, the way I'm reading it, can you just confirm that EBITDA? John Stephens -- Chief Financial Officer Yeah. So, the historical accounting method is effectively publishing first quarter 2018 results under the old rules so you've got comparability with last year's first quarter. John Hodulik -- UBS Securities -- Analyst Okay. And I guess, just doing that, it would seem that the entertainment EBITDA is down sort of in the range of about 19%, if you could sort of confirm that. And then on a sort of apples to apples basis. And then if so, will you just talk about sort of what's driving that pressure? You talked about DIRECTV satellite subs declining, and some of the expenditures you were going through to stand up DIRECTV NOW, and the marketing, and maybe the move to the new platform. How should we sort of expect those drivers to sort of evolve over the course of the year? You know, the satellite losses look like they're picking up on a year-over-year basis. Should we expect that to continue and put sort of further pressure against -- on those margins from that new sort of 22.8% level? John Stephens -- Chief Financial Officer Yeah, so a couple of things, John. First of all, I think on a year-over-year basis, our linear video losses are actually less. As you can see on the chart in the middle there, they're actually going on. So, that's an improvement. We've seen some improvement in our churn rate. And as we -- John Hodulik -- UBS Securities -- Analyst I was just looking at the -- I was thinking of the satellite over satellite number, like the -- I think the -- is it 188 versus the, I think, zero you did a year ago. I guess the outlook -- yeah, I guess your traditional's gotten a little better, but how do you see the sort of satellite stuff evolving over the next 12 months? John Stephens -- Chief Financial Officer So, I think we're gonna continue to see new challenges in the satellite in the linear paid TV models we've talked about. We'll continue to see real opportunities to shift to the over-the-top and continue to grow DTV NOW. And then what we will see is as we come out with our new platform, the one that's in beta, and then quite frankly, some updates that we would hope to have by the end of this year, where you'll start seeing things like cloud DVR revenues; pay-per-view revenues, both sports and movies; some of the opportunities for additional streams; and then eventually, revenues for advertising and data insights, we'll see a replacement of the margins and growth in those margins on an extremely low capital expenditure basis. So, we'll transition through that. That's what our expectation is on that. Am I answering your question, John? That's what I'm trying to do. John Hodulik -- UBS Securities -- Analyst Yeah. John Stephens -- Chief Financial Officer That's how -- that's the process we're going through. It'll be challenging. It's hard work. It'll take us some time. Not expected to be completed this year, but we are optimistic about total video counts growing over 100,000 and the significant year-over-year improvement in total video, almost 300,000 improvement. John Hodulik -- UBS Securities -- Analyst Right. I guess, John, what I'm trying to get at is the sort of margin trajectory from here on a sort of new accounting methodology 22.8. Should we expect sort of a similar trajectory from this new level as we sort of look out through the year, or do we expect it to stabilize as we move through the year, just given all the sort of puts and takes? John Stephens -- Chief Financial Officer Yeah. I think we'll see some pressure throughout the year, but starting to stabilize at the end of the year. John Hodulik -- UBS Securities -- Analyst Okay. Thanks. John Stephens -- Chief Financial Officer I do think we'll see some ongoing pressure through the year. John Hodulik -- UBS Securities -- Analyst Okay. John Stephens -- Chief Financial Officer Thanks, John. Michael Viola -- Senior Vice President of Investor Relations We'll take our next question, Justin. Operator Sure. We have the line of Amir Rozwadowski of Barclays. Your line is open. Amir Rozwadowski -- Barclays Capital -- Analyst Thank you very much, and afternoon, John and Mike. John Stephens -- Chief Financial Officer Hi, Amir. Amir Rozwadowski -- Barclays Capital -- Analyst Hi. Wanted to touch base on the mobility segment. If we think about sort of the competitive landscape and your approach to the competitive landscape at this point, how should we think about sort of the trade-off of subscriber acquisition versus margins? To John's prior question, if we look at it on a like for like basis for mobility, we did see some pressure on a year-over-year basis against the historical margin structure, and just trying to think about the prospects for improving that going forward or how we should think about the puts and takes there. John Stephens -- Chief Financial Officer Yes, Amir, it's a good question. The way we're thinking about it is we're making the investments in the customer base from a, if you will, an initial basis. So, in things like BOGOs or offers on equipment, getting that and getting the customers in, and then having that ability to retain them for what is now 120 months, as opposed to moving toward a recruiting tool that would be based on service revenues that would occur every month. So, we're taking that investment on an upfront basis where we can identify it, taking that pressure through margins, certainly, but then knowing that we have this improving churn and this reliability, and the ability then to add other services, whether they be broadband, whether they be video, or whether they be wireless. That's how we're viewing it. So, we've got kind of an ability to turn on and off our investment opportunity and our customers' growth. We've, so to speak, had it turned on in the fourth quarter last year and first quarter this year, but I think you've seen an over 700,000 smartphone improvement in the last two quarters over the prior years' two quarters. So, if we take responsibility for that investment today and get it over with, and then get the benefits not only over the ten years we own the -- the customer stays with us, but quite frankly, start getting the benefits from it in the very next quarter or the very next month as you have that investment behind you. That's how we're thinking about it. That's how we go about it. I will tell you, we're trying different data informed offers, and we're exchanging them when we see things work or not work appropriately. And we'll continue to do that. But the best we can, we've focused on these investments in the customer base that revolve around getting everything upfront, knowing what the total cost is gonna be, and then moving forward. From a competitive environment, we've seen some moderating of the competitive environment over the last few months. There continues to be some changes in that and some offers that we see that we're never sure if they're temporary or permanent. But overall, we have seen some moderation of the environment, and we have, as you can see, performed really pretty well with really, really low postpaid churn, growth in prepaid, and really, really improved growth in the postpaid phone trends. Amir Rozwadowski -- Barclays Capital -- Analyst That's very helpful, John. And then, to your point on churn, we continue to see it decline on a year-over-year basis. What is your expectation through the course of the year? As you mentioned, we are seeing some changes in the competitive landscape. Is the expectation that you're able to continue to drive churn lower through the course of the year? John Stephens -- Chief Financial Officer Yeah. We haven't given specific effort to improve churn stability as it is, but we're sure striving to continue to improve churn over a year-over-year basis. Our strategy, though, really gets to what we've seen as when we're able to bundle it with another service, a broadband, a video, wireless, any two or three of those together, we see better churn. And so, we also have that, and that's a differentiating viewpoint or a differentiating capability that we have uniquely that others don't. And so, when we can do that, we do have some optimism about the ability to not only maintain these great churn levels, but even see some further improvement, like we did this quarter or sequentially in year-over-year. Amir Rozwadowski -- Barclays Capital -- Analyst Thank you very much for the increments of color. John Stephens -- Chief Financial Officer Yup, thanks. Operator Next, we have the line of Simon Flannery of Morgan Stanley. Your line is open. Simon Flannery -- Morgan Stanley -- Analyst Great. Thank you. Good afternoon, John. On the video programming, I think Randall reportedly made a comment around introducing an AT&T watch offering for $15.00 bundled with wireless. Maybe if you could just give us a little bit more color about that and what sort of timing we have around that? And then coming back to wireless, I know that the upgrade rate ticked up 4.3 from 3.9, and I think you'd in the past talked about going through this period of very low upgrade rate, and it could start to normalize over time. So, it would be great just to understand, was before three, do you think you're getting back to a more normal rate now, or any color around how long people are keeping handsets and renewing them? Thanks. John Stephens -- Chief Financial Officer Okay, thanks, Simon. Good question. So, first of all, our upgrade rate, and quite frankly, both the upgrade and the gross ads numbers, so we had about half a million more devices in the first quarter in the upgrade rates and the gross ads. So, we had a big step-up. I think that was due to a lot of things. It was due to great offers that the team put out. I think there was some kind of demand for new innovative devices, and there may have been some change in the fact that devices have gotten another quarter older and people wanted an upgrade. But I think the biggest driver was really our offers. That's one thing. Two, that cost of pressure with regard to expenses on this comparable basis. If you use the comparable basis, then a lot of those expenses, particularly with regard to BOGO type offers, might fall under the bottom line and cause the pressure there. And then, so that's a reality. On those, we're more than willing to pay that, if you will, make that investment to get the long-term and, quite frankly, the immediate short-term additional revenues. I don't know that the upgrade rate itself because the age of devices has changed that much. I do believe our offers drove the increasing upgrade rate, and the new iPhones may have driven some of it because of the limitation and the lateness that they came in in the fourth quarter, and some of our customers using BOGOs to buy those in the first. So, that's how I view that. We'll continue to watch it. I don't believe we're gonna go back to the historic upgrade rates. I think those are clearly a matter of history. And even though the fact that we're talking about 4.3% being a big increase in the upgrade rate, and it gives you the sense of -- we used to talk about normal upgrade rates being a lot higher percentages. With regard to the video programming, let me just add, as we move forward through this year and are able to continue to innovate, we'll have a lot of offers in wireless and broadband and video. One of those would be the one that you were referring to that Randall mentioned, a DTV watch type program. We'll leave it to my marketing and sales team to come out with the details on that. I know they're gonna do a lot better job of it than I could. But I think the more important message is that we are willing to innovate. We are willing to try some different things to grow the customer base in the right way and continue to grow the overall business on a bundled basis. Simon Flannery -- Morgan Stanley -- Analyst Sure. Thank you. John Stephens -- Chief Financial Officer Thank you. Operator Next, we have Mike McCormick of Guggenheim. Your line is open. Michael McCormick -- Guggenheim -- Analyst Hey guys. Thanks. John, really just circling back on the entertainment group and sort of pressures there, just thinking about -- I think Randall recently was quoted as comparing it to the legacy wireline voice business of old, and I don't think there's much argument that linear's under tremendous pressure. But as you look at that unit or that segment, how much of the cost is variable? And as you sort of think about the piece parts within that, which parts of it can you reduce sort of with the subcounts versus more structural fixed costs? And then on the content cost side, which I presume is mostly variable, what benefits are you guys getting as far as cost goes or negotiating power goes with the programmers for the DIRECTV NOW product? John Stephens -- Chief Financial Officer Yeah, again, Mike, good question. A couple of things. I guess I view all of our -- I view the cost this way. On the video entertainment piece of it, on the video side, that content is variable with regard to the packages we sell. But I also think there's some opportunity going forward to be variable with regard to within the packages. And I think -- and we've made reference to possibly some offers, possibly getting to a point where we have differentiated offers with different packages. We have some today continuing to do that. So, I think there is some, not only just based on the volume of customers, but also based on what the customers want to buy, and we'll continue to look for that. On the high-speed Internet side or the broadband side, I would suggest to you what we've been building into, the $8 million fiber, right, quite frankly is something we still have a lot of selling to do into. And so, that capital's been spent in that capacity to serve is already out there. We're just in this process of growing this IP broadband base and serving it. So, I would suggest to you that that could be a change or provide new direction, particularly as we've gone through the legacy DSL conversions, which has really been absorbing us for the last few years. On the legacy voice and data, those challenges continue to be there. Those costs are either -- have been managed out or continue to be managed out. That's how we think about this, but the real -- on the video side, the real growth here is gonna be in these alternative services, whether it's cloud DVRs, pay-per-views, data insights, advertising, doing those kinds of things while growing broadband at a high-speed level and continuing the success we've had. And then, as you look at that entertainment group, bundling the two of those together, but also bundling all of that with wireless. And so, that's the real strength in it. That's what makes it worth all the efforts that we're going through to transition it. So, it's not just one individual piece, but it's the collection of those pieces that make this very attractive. Michael McCormick -- Guggenheim -- Analyst Great. Thanks, John. John Stephens -- Chief Financial Officer Thank you. Operator Next, we have Brett Feldman of Goldman Sachs. Your line is open. Brett Feldman -- Goldman Sachs -- Analyst Hi, thanks for taking the question. The first one is just a quick housekeeping question. The new USF accounting, you noted that it's neutral to operating income. Can you clarify, is it also neutral to EBITDA? I think that might help some comparability. And then just coming back to the entertainment segment, the U-verse video base has been remarkably flat. Particularly, I think you added a customer, a couple customers this quarter. I was hoping maybe you could provide a little more insight as to why that is. And is that more directly tied to the adoption of your residential fiber product and perhaps what we're seeing the satellite trends? Thanks. John Stephens -- Chief Financial Officer A couple of things. One, yes on EBITDA, the USF revenue and expenses are both in the EBITDA calculations, so they will net to zero. It won't have change to EBITDA. I will tell you, though, Brett, to be clear, in prior years that USF revenue was in service revenues. And so, it impacted service EBITDA margins. Not EBITDA itself as a number, but the margins. We believe this will give you a better picture of what we actually collect from customers on our behalf versus what we collect on the customer -- the government's behalf, much like sales taxes, which we had never previously counted as service revenues. So, you're right, it does affect EBITDA operating income or EBITDA. The starting point, though, would be it would have an impact on service revenues. Brett Feldman -- Goldman Sachs -- Analyst Got it. John Stephens -- Chief Financial Officer The U-verse, I think essentially a couple of different things. One, the fiber build and the fiber capability, the broadband capability, make that natural bundle very good. Two, U-verse is in our historic legacy telephone company footprint, where we generally have very good wireless capability distribution, and have had actually better results in bundling when we have all aspects of that. So, that's another point. Brett, I would tell you the need to migrate U-verse into satellite to take advantage of differentiating content cost is ebbing, or is greatly reduced than possibly it was when we first merged with DIRECTV. All of those things are part of the process. And quite frankly, customer satisfaction with the U-verse product is probably the most important consideration, that people are happy. So, those are all things that contribute to that aspect. Brett Feldman -- Goldman Sachs -- Analyst Just a quick follow-up question. I think you had previous indicated that when the DIRECTV satellite product was being sold in your landline reach, and you were seeing better results there because you could bundle with broadband. Is that still playing out, or are you finding that the U-verse video product is still a much more natural bundle with your broadband offer? John Stephens -- Chief Financial Officer I won't say in comparison to the two, U-verse compared to satellite, but I will tell you that we do believe that we do better and have better churn stats when we can bundle video, both satellite and U-verse. U-verse kind of by definition. But satellite, we have better churn results and better customer experiences when we can bundle with our IP broadband. And to that point, just another reason for the fiber build and the opportunities that it presents, as well as -- like FirstNet will provide, quite frankly, all our satellite customers with regard to the potential for much better quality wireless service. So, all of that kind of plays together. Brett Feldman -- Goldman Sachs -- Analyst Thanks for taking the questions. John Stephens -- Chief Financial Officer Sure. Operator Next, we have the line of Philip Cusick of JPMorgan. John Stephens -- Chief Financial Officer Hi, Phil. Philip Cusick -- JPMorgan Securities -- Analyst Hi, guys. Thanks. Hi, John. First, a follow-up. You were fairly aggressive in the first quarter in wireless compared to previous first quarters, but a lot of those promotions fell away in April. Should we think about this as a new level of aggression for the full year, or are you just changing up the seasonality? And then the bigger question, John, the online and addressable advertising business seems to be under fire on a lot of fronts, and there's some increased investor preference lately for online subscription businesses. How do the headlines impact your thinking around AT&T's strategy of accruing content in the OTT transition and the trade you seem to be making of giving up subscription revenue to drive subscribers in an effort to build the targeted advertising opportunity? Thanks. John Stephens -- Chief Financial Officer So, Phil, with regard to aggressiveness, I would suggest to you, we had the capabilities to be aggressive in the first quarter. We did that. We tried different things. As you can tell, we did that in the fourth quarter too. And as you pointed you, we changed them as we've gone through to make sure we -- what we were doing was working and was getting the results -- not only just results, but the results we wanted. And we're continuing to focus on data informed decisions in that light. What I'd suggest to you is what you'll continue to see is something like the free offers that we've I guess recently put out in the marketplace in New York, where we're using video as an opportunity to attract customers; in Chicago, where we're using our capabilities with regard to broadband to attract customers; or in Los Angeles, where we're using wireless. We're trying to be market directed, market informed, and trying to put offers out that'll, if you will, make a difference. You can expect to continue to see us change some things, try some things. We might do a BOGO, and then we might do a second one is at 50% fee as opposed to a full BOGO. I think we recently did that with our wireless offering. So, you'll see us make changes on a regular basis. We're trying to, if you will, make sure we're willing to invest in this opportunity and the customer base to grow the business and the opportunities for long-term. I don't want to suggest that our, if you will, investment levels will continue to be at the same level they were in the first quarter. We'll go through that process as we go through the year and make the right decisions for the short-term and the long-term for the business. But I do expect we'll continue to look at things on a regular basis, as we've been doing even here in April. With regard to the recent issues with regard to -- I'll call it customer data and customer, if you will, rights with regard to that data, we continue to respect our customers. We've been the guys who've been in the business of, if you will, simply put, unlisted numbers for a hundred years. We understand customers' data and privacy and how to deal with that. We're the ones who have pushed for a consumer bill of rights and pushed that legislation earlier this year, long before this became a headline story of the recent month. So, we continue to believe in, if you will, respecting your customers' privacy and treating them the right way will provide the long-term results. With that being said, we continue to believe in the processes and practices we have in place as being appropriate, and we continue to believe that there is a space for us as a trusted advisor and a trusted player in the data insights and data privacy space for our customers and for the advertisers who are clearly looking for a trusted partner in that space. Philip Cusick -- JPMorgan Securities -- Analyst Thanks, John. John Stephens -- Chief Financial Officer Thank you. Operator Next, we have the line of David Barton of Bank of America. Your line is open. David Barton -- Bank of America -- Analyst Hey, John. Thanks for taking the questions. John Stephens -- Chief Financial Officer Sure. David Barton -- Bank of America -- Analyst So, first question would be, if you could kind of maybe elaborate a little bit more on where we are kind of on the FirstNet go to market process. Have you stood up the sales force? If you have, what exactly are they selling and to who? And when can we think about the market share opportunity that you have there starting to feather into your kind of gross ad market share and net ad share in the market? And then the second is, a year ago first quarter, the postpaid phone net ad market was a couple 100,000 phones. If we look at what you and Verizon and Comcast have done and make a few educated guesses about T-Mobile and Sprint, year-over-year, that's gonna be three to four X this quarter. And if I looked at last quarter, it was actually up 50% year-over-year. What do you think is kind of driving this phenomenon, where the postpaid phone net ad market just seems to be kind of growing out of thin air? Is it the economy? Is it prepaid to postpaid migrations, DYOD? I'd love your theories there to kind of explain it, and then whether we can maybe assume it's gonna continue for the rest of the year or whether this is kind of a transitory effect. Thanks. John Stephens -- Chief Financial Officer So, I think it depends, David. I don't doubt -- let me say it this was. For us, we're both growing at an improved postpaid phone, improved 300,000, while we still had almost 200,000 -- that is, about 190,000, 200,000, but almost 200,000 prepaid net ads. So, for us, we're seeing continued good -- really good performance of prepaid, but really good performance in the smartphone. So, we're seeing a total growth in those phones. That's what we're seeing. I think others are seeing some conversion from prepaid to postpaid. I wouldn't -- that may be at the customer's decision just based on pricing opportunities or, if you will, plans that are out there. But we are seeing continued growth in both for us. I do understand your question, and we'll wait and see about what happens with the total marketplace. I don't have a total view of that marketplace. I don't think anybody does, because some of the companies haven't announced and so forth. But in our, if you will, piece of the marketplace, you saw us now with two quarters in a row, over the last two quarters, a 700,000 improvement in postpaid smartphones and continuing good performance, solid performance in prepaid. So, we are -- we believe that we're doing very well in the share part of the game. I would also tell you there's other aspects of things in the postpaid net ads, as you all know -- whether tablets are going, whether and how people count watches and other devices. I'll leave that to you all to decide and to evaluate. But on the phones, we feel pretty good about getting good value for the investment plans we put out there, and a great opportunity to generate value short-term, the month after, with regard to the revenues these guys are gonna generate and over the long-term because of our churn being so low. With regard to FirstNet, FirstNet's something that we're really excited about. We're very excited about getting the only, the exclusive authorized FirstNet core up and running last month. We really do believe that that's critical to be able to provide the services and to provide the quality of service that those first responders deserve and need. We had set up a FirstNet team last year. An individual by the name of Chris Sandbar runs that for us. We added marketing and staff and sales people. We've spent money, if you will, and time over the -- at least over the last nine months, if not longer -- almost a year, I guess, getting to know our potential clients, getting into the industry, making a bigger effort to be a known player. With regard to that, as I mentioned earlier, we've actually had about 600 or so, if you will, departments sign up with those. And those 600 departments came from over 48 states, because they can use -- we can provide FirstNet quality services on our existing LTE network once we've established this core, which we did last month. So, they can get relentless or ruthless pre-emption, and they can get priority services. And that can all work now. We can provide that. Now, some of those folks that we signed up could have been our customers before and they just want to migrate to FirstNet, and that'll be part of the process. But quite frankly, I think we've been very pleased about the reception we've been given to at least talk to people that previously weren't our customers. And on a per person basis, if you will, somebody's a first line, first responder, you're thinking about two or three or potentially four connected points, whether it be a body cam, whether it be a phone, whether it be a tablet for their care, whether it be some drone or some other device they'd use. But you also look at it from the ability to contact with the smart cities, their employers, so to speak, and whether we can sell other services there. We're also looking for the in-house personnel, the dispatch people that work at the police stations, or other personnel, and whether we could have an opportunity to sell there. And then of course, there's always the friends and family approach. So, we're very pleased. First of all, we've got a FirstNet team already set up. They're very active. They've already gotten a number of contracts done in over 40 states. And we continue to be very excited about it. We will get a significant amount of the Band 14 up this year, and we are expecting to at a minimum meet and hopefully exceed all the milestone requirements that FirstNet has given us. So, if I sound pretty positive about it, I am. David Barton -- Bank of America -- Analyst Thanks, John. John Stephens -- Chief Financial Officer Thank you. Operator Next, we have the line of Amy Yong of Macquarie. Your line is open. Amy Yong -- Macquarie Bank -- Analyst Thank you. Maybe if you could talk a little bit more about the advertising opportunity and size up the near-term marketing opportunity for us. How quickly do you think you could ramp this up? And then maybe some of the growth trends that we should be looking at for this year next. And then just very quickly on the 5G fixed wireless trials, how big is the residential broadband market opportunity as we think about '19 and beyond? Thanks. John Stephens -- Chief Financial Officer So, on the advertising, let me make sure I point out, this quarter, we were up 9% in revenues. We got a base of about $350 million a quarter, in that range. I don't have the specific number at my fingertips here. And we grew it about 9%. So, the team is actually proving that this works already with our existing, if you will, inventory of ads that we get as the distributor from the content folks. So, we're making it work. We're getting higher CPMs, and getting higher revenue streams, and making it more effective. We feel really good about that. As we go through this year, we hope to add a lot more inventory from underneath our umbrella of ownership companies to that. And we'd like to develop that. If you think about the overall digital market, I don't know the exact numbers, but I think last year, the overall digital advertising market in the U.S. was north of 60 billion, and some estimates put it in the 80 billion range. We're not a -- what I would call, in that piece, a significant player. We believe that we can be. We have the capabilities to be. And we've made the investments, not only in the personnel and the team that Brian Lester's established, but we're also making the investments in the data capabilities and our big data engines inside our company today. So, we feel really good about that opportunity. If you think about linear TV and the opportunity to grow that revenue stream, if you think about digital and the opportunity to grow that, and then you think about the opportunity to take all of our digital insights and data insights and help advertisers make sure their advertising is working effectively and efficiently, we believe that there's a real opportunity there. So, all of that being done within the appropriate rules and data protection activities. So, we feel really good about that. With regard to the fixed G wireless, if you will, our test has showed it can be done. We can do it. The opportunity there is something we'll have to prove out. We're not as excited about the business case. It's not as compelling yet for us as it may be for some. The reason we're still -- we don't see that, if you will, the question is, is to get that fixed wireless to the residential, you still have to have backhaul from where the -- you know, 1,000 feet away, 1,500 feet away, and you still have to have that backhaul infrastructure. So, that could be, depending upon your ability to successfully pick who's going to buy and how much you're gonna need, it's gonna be a very tricky business case. For us, with this extensive fiber negative, we will be able to have that backhaul. With this expansive FirstNet network, we'll be able to have that backhaul. But quite frankly, if we've got FirstNet and we've got fiber there, it may be just as effective and maybe even a better quality product to give those customers fiber to the home. So, we're continuing to work at it. I just don't want to hold it out and say right now, we are more excited, as you can tell from the statements I've made about our FirstNet opportunity, about the fiber capabilities that we're building and selling into that, and quite frankly, about the overall 5G Evolution and 5G capabilities in our overall mobility network serving much of the mobile broadband demands that are out there, requirements that are out there. Amy Yong -- Macquarie Bank -- Analyst Great. Thank you. John Stephens -- Chief Financial Officer Thank you, Amy. Michael Viola -- Senior Vice President of Investor Relations And Justin, we'll take one more question. Operator Certainly. Last, we have the line of Frank Lapin of Raymond James. Your line is open. Frank Louthan -- Raymond James & Associates -- Analyst Great, thank you. Give us a little bit more color on maybe the free cash flow aspects in the entertainment business as you're switching more to the DIRECTV NOW product. That would be great. And then on the 5G, it seems the device is being available late '18. Can you give us a little bit more color on exactly what devices you're waiting for for before the launch? Thanks. John Stephens -- Chief Financial Officer Okay. With regard to the 5G, let me make this point. On the 5G Evolution, those devices are not only available now, many of our customers already have them. And so, the speeds we can do with 5G Evolution by putting up all our spectrum with regard to FirstNet, using four-way carrier aggregation, which allows us to band the spectrum that we've put up now all together, and having four-way MIMO, which is, if you will, an efficient and quick way to let customers access the network and exist the network. Those speeds are working today, and in our test in San Francisco, we got 750-meg speeds on our network. On a full network, that might be 10 to 20% of that level, but we believe we can get 100-meg speeds on our 5G Evolution network with handsets that are already out there today in people's hands and are coming through the rest of the handset manufacturer base over time. So, I just want to point that out. That's one of the reasons why the FirstNet, with the technology developments a carrier adds, and four-way MIMO with 256 QAM and all these other things combined, as well as the new spectrum, Band 14, gives us real excitement about the ability to serve customers really, really well. On the 5G, I think by the end of this year, we'll have 5G networks up. The device that'll be out or devices that'll be out will probably be pucks and the ability to connect to a puck. And then we'd expect to see what I'll call handset devices or tablets, or those type of what I would -- I think many of us would normally think of as devices, those would be out in '19. And as Simon referenced earlier in the call, we've got, if we will, upgrade cycles that are some 5% a quarter, so there may be some time to getting those 5G handsets up and running, so to speak. So, we'll see how that goes, whether that changes the upgrade cycles or not. But all of that is, for us, points to this 5G Evolution can be a really beneficial thing for us, because that's available in many, many handsets today. On the free cash flow side, if you will, Frank, I guess I'll say it this way, moving to the DTV NOW platform or moving to a thin client platform eventually for the home is really gonna change the free cash flow aspects because the upfront truck roll cost, the upfront, if you will, climb the roof costs, all of that can change, as well as some of the things with regard to billing and administrative costs, the fact that it's an automatic bill or it's a credit card bill. All of those things will change. But that's one of the attractivenesses of the DTV NOW, is the economics, about not having that upfront investment. That'll turn into savings from an upfront investment from a cash flow perspective. So, that's why this thing will -- we strongly believe it'll work long-term. With regard to our first quarter free cash flow, I do want to make one point. First of all, first quarter's always low for us because of bonuses and other things. We had a huge handset sales in the fourth quarter and the first quarter. 500,000 up year-over-year in the first quarter, 700,000 up year-over-year in the fourth quarter. And many of those sales in the fourth quarter, we actually paid for the phones this quarter, because they were late in the quarter last year when they were sold. So, we had a lot of cash flow pressure from handsets that'll reverse itself. It'll wash itself out. And I just want to point that out. So, we feel good about our free cash flow. Keeping it in that $21 billion range is the guidance we've given, as well as keeping all of our guidance intact. Frank Louthan -- Raymond James & Associates -- Analyst Okay, great. Thank you. John Stephens -- Chief Financial Officer Thank you, Frank. With that, I want to thank everybody for being on the call today. Well, we're off to a fast start in 2018, both in growing our customer base and in building the world's premiere gigabyte network. We continue to add new subscribers in wireless broadband and video, and we are on track to turn wireless service revenues toward growth this year. The FirstNet build is kicking into gear, and we launched the nationwide FirstNet dedicated network core last month. We're working hard to build something great for first responders, and early response from our sales activities has been very positive. We're also moving full speed on our 5G Evolution, and expect to be the first U.S. carrier to introduce mobile 5G later this year. Behind all this is our expanding fiber network, which is the backbone for all our networks, both wireless and wired. And of course, we optimistically await the conclusion of our Time Warner court case and the court's decision. One last thought. As you make your way home tonight, please remember, not text is worth a life. It can wait. Please be safe. Thanks again for being on the call, and as always, thank you for your interest in AT&T. Have a good evening. Operator Thank you, and that does conclude our conference for today. We thank you very much for your participation and for using AT&T's executive teleconference service. You may now disconnect. Duration: 63 minutes Call participants: Michael Viola -- Senior Vice President of Investor Relations John Stephens -- Chief Financial Officer John Hodulik -- UBS Securities -- Analyst Amir Rozwadowski -- Barclays Capital -- Analyst Simon Flannery -- Morgan Stanley -- Analyst Michael McCormick -- Guggenheim -- Analyst Brett Feldman -- Goldman Sachs -- Analyst Philip Cusick -- JPMorgan Securities -- Analyst David Barton -- Bank of America -- Analyst Amy Yong -- Macquarie Bank -- Analyst Frank Louthan -- Raymond James & Associates -- Analyst More T analysis This article is a transcript of this conference call produced for The Motley Fool. While we strive for our Foolish Best, there may be errors, omissions, or inaccuracies in this transcript. As with all our articles, The Motley Fool does not assume any responsibility for your use of this content, and we strongly encourage you to do your own research, including listening to the call yourself and reading the company's SEC filings. Please see our Terms and Conditions for additional details, including our Obligatory Capitalized Disclaimers of Liability. More From The Motley Fool 3 Growth Stocks at Deep-Value Prices 5 Expected Social Security Changes in 2018 6 Years Later, 6 Charts That Show How Far Apple, Inc. Has Come Since Steve Jobs' Passing 10 Best Stocks to Buy Today The $16,122 Social Security Bonus You Cannot Afford to Miss Bitcoin's Biggest Competitor Isn't Ethereum -- It's This The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy . \|\| Yandex N.V. Falls Despite a Great Quarter: Yandex N.V.(NASDAQ: YNDX)announced first-quarter 2018 results early Wednesday, detailing steady market share from its core search platform, healthy advertising revenue growth, and broad-based strength from its various other business bets. Yandex also boosted its full-year revenue guidance. But shares of the Russian internet search giant fell around 1.6% in response. So let's take a closer look at how Yandex kicked off the new year, and what investors can expect going forward. Image source: Yandex. [{"Metric": "Revenue", "Q4 2017": "26.573 billion RUR", "Q4 2016": "20.652 billion RUR", "Year-Over-Year Growth": "28.7%"}, {"Metric": "Net income attributable to Yandex N.V.", "Q4 2017": "2.380 billion RUR", "Q4 2016": "835 million RUR", "Year-Over-Year Growth": "185%"}, {"Metric": "Earnings per share (diluted)", "Q4 2017": "7.10 RUR", "Q4 2016": "2.54 RUR", "Year-Over-Year Growth": "179.5%"}] Figures in Russian Rubles (RUR). Data source: Yandex. • Revenue excluding traffic acquisition costs (ex-TAC) grew 33% year over year to 22.256 billion RUR. • On an adjusted (non-GAAP) basis, which excludes items like currency exchange and equity compensation, quarterly net income rose 7% year over year to 4.009 billion RUR. • AdjustedEBITDAincreased 12% to 7.704 billion RUR. • Yandex's share of the Russian search market (including mobile) remained steady sequentially at 56.5%, but increased from 54.7% in last year's first quarter. • Search share on Android in Russia -- which historically represents roughly 70% of total traffic in the country -- increased to 46.3%, up from 45% last quarter and 38% in the same year-ago period. • Search queries in Russia increased 10% year over year. • Paid clicks increased 7% year over year, while average cost-per-click -- a metric that helps measure how much Yandex actually makes per ad -- grew 8%. • Online advertising revenue grew 17% to 22.84 billion RUR, including a 22% increase at Yandex properties, to 17.475 billion RUR, and 4% growth at network members' sites to 5.365 billion RUR. • Other (non-advertising) revenue grew 228% to 3.733 billion RUR. • Revenue by segment included: Yandex CEO Arkady Volozh elaborated: 2018 got off to a fast start with 29% year-over-year revenue growth. Our investments are bearing fruit. Taxi, Classifieds and Media Services, our newest business unit, as well as our Experiments were key to accelerating revenue growth. Our business units and experiments, in aggregate, contributed over 20% of total revenues in the quarter. "The pace of innovation and new product launches continues," added Yandex COO and CFO Greg Abovsky. "We unveiled exciting new products this quarter, including Yandex.Drive, a by-the-minute car rental service, and Yandex.Cloud, our virtual cloud computing infrastructure, which is now in technical preview." Given its performance in the first quarter, Yandex now expects ruble-based revenue this year will grow in the range of 28% to 32% (from 94.1 billion RUR in 2017), marking an increase fromlast quarter's guidancefor growth of 25% to 30%. Here again, Wall Street was expecting this outperformance to an extent, with consensus estimates calling for full-year 2018 growth near the low end of Yandex's new range at 28.9%. In the end, the stock fell less than 2% on the news, and is likely still reeling from worries over theimposition of new U.S. sanctionson Russia earlier this month. But if it's any consolation, Yandex shares are still up more than 30% over the past year as of this writing. And this was as strong a quarter as Yandex investors could have hoped to see. More From The Motley Fool • 3 Growth Stocks at Deep-Value Prices • 5 Expected Social Security Changes in 2018 • 6 Years Later, 6 Charts That Show How Far Apple, Inc. Has Come Since Steve Jobs' Passing • 10 Best Stocks to Buy Today • The $16,122 Social Security Bonus You Cannot Afford to Miss • Bitcoin's Biggest Competitor Isn't Ethereum -- It's This Steve Symingtonhas no position in any of the stocks mentioned. The Motley Fool recommends Yandex. The Motley Fool has adisclosure policy. \|\| Yandex N.V. Falls Despite a Great Quarter: Yandex N.V. (NASDAQ: YNDX) announced first-quarter 2018 results early Wednesday, detailing steady market share from its core search platform, healthy advertising revenue growth, and broad-based strength from its various other business bets. Yandex also boosted its full-year revenue guidance. But shares of the Russian internet search giant fell around 1.6% in response. So let's take a closer look at how Yandex kicked off the new year, and what investors can expect going forward. Yandex text logo with red 'Y.' Image source: Yandex. Yandex results: The raw numbers Metric Q4 2017 Q4 2016 Year-Over-Year Growth Revenue 26.573 billion RUR 20.652 billion RUR 28.7% Net income attributable to Yandex N.V. 2.380 billion RUR 835 million RUR 185% Earnings per share (diluted) 7.10 RUR 2.54 RUR 179.5% Figures in Russian Rubles (RUR). Data source: Yandex. What happened with Yandex this quarter? Revenue excluding traffic acquisition costs (ex-TAC) grew 33% year over year to 22.256 billion RUR. On an adjusted (non- GAAP ) basis, which excludes items like currency exchange and equity compensation, quarterly net income rose 7% year over year to 4.009 billion RUR. Adjusted EBITDA increased 12% to 7.704 billion RUR. Yandex's share of the Russian search market (including mobile) remained steady sequentially at 56.5%, but increased from 54.7% in last year's first quarter. Search share on Android in Russia -- which historically represents roughly 70% of total traffic in the country -- increased to 46.3%, up from 45% last quarter and 38% in the same year-ago period. Search queries in Russia increased 10% year over year. Paid clicks increased 7% year over year, while average cost-per-click -- a metric that helps measure how much Yandex actually makes per ad -- grew 8%. Online advertising revenue grew 17% to 22.84 billion RUR, including a 22% increase at Yandex properties, to 17.475 billion RUR, and 4% growth at network members' sites to 5.365 billion RUR. Other (non-advertising) revenue grew 228% to 3.733 billion RUR. Revenue by segment included: Story continues What management had to say Yandex CEO Arkady Volozh elaborated: 2018 got off to a fast start with 29% year-over-year revenue growth. Our investments are bearing fruit. Taxi, Classifieds and Media Services, our newest business unit, as well as our Experiments were key to accelerating revenue growth. Our business units and experiments, in aggregate, contributed over 20% of total revenues in the quarter. "The pace of innovation and new product launches continues," added Yandex COO and CFO Greg Abovsky. "We unveiled exciting new products this quarter, including Yandex.Drive, a by-the-minute car rental service, and Yandex.Cloud, our virtual cloud computing infrastructure, which is now in technical preview." Looking forward Given its performance in the first quarter, Yandex now expects ruble-based revenue this year will grow in the range of 28% to 32% (from 94.1 billion RUR in 2017), marking an increase from last quarter's guidance for growth of 25% to 30%. Here again, Wall Street was expecting this outperformance to an extent, with consensus estimates calling for full-year 2018 growth near the low end of Yandex's new range at 28.9%. In the end, the stock fell less than 2% on the news, and is likely still reeling from worries over the imposition of new U.S. sanctions on Russia earlier this month. But if it's any consolation, Yandex shares are still up more than 30% over the past year as of this writing. And this was as strong a quarter as Yandex investors could have hoped to see. More From The Motley Fool 3 Growth Stocks at Deep-Value Prices 5 Expected Social Security Changes in 2018 6 Years Later, 6 Charts That Show How Far Apple, Inc. Has Come Since Steve Jobs' Passing 10 Best Stocks to Buy Today The $16,122 Social Security Bonus You Cannot Afford to Miss Bitcoin's Biggest Competitor Isn't Ethereum -- It's This Steve Symington has no position in any of the stocks mentioned. The Motley Fool recommends Yandex. The Motley Fool has a disclosure policy . \|\| Aflac Keeps Moving Forward: Aflac(NYSE: AFL)has been a long-term winner for investors, with steadily rising share prices reflecting the core appeal of its business. With supplemental insurance products for workersboth in the U.S. and Japan, Aflac has tapped into the need among employees to go beyond the default group coverage that employers typically provide as part of their benefits packages. Coming into Wednesday's first-quarter financial report, Aflac investors hoped that the insurer would be able tokeep up its positive momentumand continue to find new ways to serve its customer base. With a corporate move to make its Japanese business into a subsidiary, Aflac hopes to keep making incremental progress in boosting revenue and net income for years to come. Image source: Aflac. Aflac's first-quarter results were largely favorable. Revenue was higher by 3% at $5.46 billion, more or less matching what most investors were expecting on Aflac's top line. Net income jumped 21% to $717 million, and after making allowances for extraordinary items, adjusted earnings of $1.05 per share were far higher than the consensus forecast of $0.97 per share among those following the stock. Aflac turned things around fromprevious quarterslargely because of a reversal in the prior strength of the U.S. dollar. The Japanese yen strengthened by about 5% during the quarter compared to the year-earlier period, and that helped make Aflac Japan's growth rates stronger than they were in local-currency terms. Aflac said that the currency gains added about $0.03 per share to its bottom line for the quarter. Even so, Aflac continued to see pressure on its Japanese operations due to its extensive restructuring efforts across the Pacific. Premium income fell 2.6% in local-currency terms, with stable investment income helping to cushion the blow to some extent. Adjusted earnings for the segment inched higher by about 1%, thanks largely to stronger profit margin figures. Even so, weakness in sales of cancer, medical, and income support products sent what Aflac calls its third-sector sales downward by double-digit percentages, as the unit faced difficult comparisons with prior-year results as Aflac contemplates new product rollouts. U.S. results were better for the insurance company. Premium income climbed 2.7%, and a slight decline in investment income still left total revenue higher overall. Adjusted pre-tax earnings were higher by 9%, reflecting better margin. One thing that Aflac did during the quarter that will have some impact on future performance is to make Aflac Japan into a formal subsidiary. CEO Daniel Amos described the move, saying, "This new corporate structure aligns Aflac with global regulatory frameworks and enhances our financial and business flexibility, while remaining consistent with our current financial strength ratings and enterprise risk management framework." The CEO also pointed to solid strategies in the U.S. market even as it works to keep improving things in Japan. Looking ahead, Aflac believes it can build even more momentum going forward. The company believes that third-sector sales in Japan should return to their historical 2% to 3% growth rate, and acceleration later in the year in the U.S. could pull full-year sales growth for the segment upward by 3% to 5%. Returning capital to shareholders will also be a key feature for the remainder of the year, with Aflac still seeing buybacks of somewhere from $1.1 billion and $1.4 billion for 2018 in total. Aflac investors took the news in stride, and the stock didn't move much in after-hours trading following the announcement. Investors in insurance companies tend to like predictability in their investments, so the solid results that Aflac has been able to produce over the years are exactly what many of the insurance company's shareholders want to hear quarter after quarter. More From The Motley Fool • 3 Growth Stocks at Deep-Value Prices • 5 Expected Social Security Changes in 2018 • 6 Years Later, 6 Charts That Show How Far Apple, Inc. Has Come Since Steve Jobs' Passing • 10 Best Stocks to Buy Today • The $16,122 Social Security Bonus You Cannot Afford to Miss • Bitcoin's Biggest Competitor Isn't Ethereum -- It's This Dan Caplingerhas no position in any of the stocks mentioned. The Motley Fool recommends Aflac. The Motley Fool has adisclosure policy. \|\| Aflac Keeps Moving Forward: Aflac (NYSE: AFL) has been a long-term winner for investors, with steadily rising share prices reflecting the core appeal of its business. With supplemental insurance products for workers both in the U.S. and Japan , Aflac has tapped into the need among employees to go beyond the default group coverage that employers typically provide as part of their benefits packages. Coming into Wednesday's first-quarter financial report, Aflac investors hoped that the insurer would be able to keep up its positive momentum and continue to find new ways to serve its customer base. With a corporate move to make its Japanese business into a subsidiary, Aflac hopes to keep making incremental progress in boosting revenue and net income for years to come. White duck with yellow beak using blue smartphone. Image source: Aflac. How Aflac started 2018 Aflac's first-quarter results were largely favorable. Revenue was higher by 3% at $5.46 billion, more or less matching what most investors were expecting on Aflac's top line. Net income jumped 21% to $717 million, and after making allowances for extraordinary items, adjusted earnings of $1.05 per share were far higher than the consensus forecast of $0.97 per share among those following the stock. Aflac turned things around from previous quarters largely because of a reversal in the prior strength of the U.S. dollar. The Japanese yen strengthened by about 5% during the quarter compared to the year-earlier period, and that helped make Aflac Japan's growth rates stronger than they were in local-currency terms. Aflac said that the currency gains added about $0.03 per share to its bottom line for the quarter. Even so, Aflac continued to see pressure on its Japanese operations due to its extensive restructuring efforts across the Pacific. Premium income fell 2.6% in local-currency terms, with stable investment income helping to cushion the blow to some extent. Adjusted earnings for the segment inched higher by about 1%, thanks largely to stronger profit margin figures. Even so, weakness in sales of cancer, medical, and income support products sent what Aflac calls its third-sector sales downward by double-digit percentages, as the unit faced difficult comparisons with prior-year results as Aflac contemplates new product rollouts. Story continues U.S. results were better for the insurance company. Premium income climbed 2.7%, and a slight decline in investment income still left total revenue higher overall. Adjusted pre-tax earnings were higher by 9%, reflecting better margin. What's ahead for Aflac? One thing that Aflac did during the quarter that will have some impact on future performance is to make Aflac Japan into a formal subsidiary. CEO Daniel Amos described the move, saying, "This new corporate structure aligns Aflac with global regulatory frameworks and enhances our financial and business flexibility, while remaining consistent with our current financial strength ratings and enterprise risk management framework." The CEO also pointed to solid strategies in the U.S. market even as it works to keep improving things in Japan. Looking ahead, Aflac believes it can build even more momentum going forward. The company believes that third-sector sales in Japan should return to their historical 2% to 3% growth rate, and acceleration later in the year in the U.S. could pull full-year sales growth for the segment upward by 3% to 5%. Returning capital to shareholders will also be a key feature for the remainder of the year, with Aflac still seeing buybacks of somewhere from $1.1 billion and $1.4 billion for 2018 in total. Aflac investors took the news in stride, and the stock didn't move much in after-hours trading following the announcement. Investors in insurance companies tend to like predictability in their investments, so the solid results that Aflac has been able to produce over the years are exactly what many of the insurance company's shareholders want to hear quarter after quarter. More From The Motley Fool 3 Growth Stocks at Deep-Value Prices 5 Expected Social Security Changes in 2018 6 Years Later, 6 Charts That Show How Far Apple, Inc. Has Come Since Steve Jobs' Passing 10 Best Stocks to Buy Today The $16,122 Social Security Bonus You Cannot Afford to Miss Bitcoin's Biggest Competitor Isn't Ethereum -- It's This Dan Caplinger has no position in any of the stocks mentioned. The Motley Fool recommends Aflac. The Motley Fool has a disclosure policy . \|\| With Market Volatility, Markel Leans on Insurance Strength: Markel Corporation(NYSE: MKL)announced first-quarter 2018 results on Tuesday after the market closed, punctuated by a net loss from the financial holding company's investment portfolio. But in keeping with executives' methodical approach to generating shareholder value, Markel management took the opportunity to showcase the merits of their long-term thinking and diversified business operations. Let's dig deeper into how Markel started the new year, as well as what investors should expect from the company going forward. Image source: Getty Images. [{"Metric": "Operating revenue", "Q1 2018": "$1.575 billion", "Q1 2017": "$1.412 billion", "Year-Over-Year Growth": "11.6%"}, {"Metric": "Net income (loss) to shareholders", "Q1 2018": "($64.3 million)", "Q1 2017": "$71.0 million", "Year-Over-Year Growth": "N/A"}, {"Metric": "Net income (loss) per diluted share", "Q1 2018": "($4.25)", "Q1 2017": "$3.90", "Year-Over-Year Growth": "N/A"}, {"Metric": "Book value per share", "Q1 2018": "$671.05", "Q1 2017": "$620.30", "Year-Over-Year Growth": "8.2%"}] Data source: Markel Corporation. • Markel's net loss was negatively impacted by the adoption of new accounting standards implemented at the start of the year, which required recognizing a $122.1 million pre-tax loss related to the decline in fair value of its equities portfolio since the end of 2017. It also included a pre-tax foreign currency loss of $22.1 million, and a non-recurring tax expense of $99.5 million. • Markel's comprehensive loss to shareholders -- which notably includes a $116.1 million decline in net unrealized gains on available-for-sale investments (net of taxes) -- was $174.8 million. • At investment operations:Net investment income increased 7.6% to $108 million, driven by higher short-term interest rates and higher dividend income from equity investments.Total invested assets were $20.3 billion as of March 31, 2018, down from $20.6 billion at the end of 2017. Equity securities were $5.9 billion, or 29% of invested assets, down from $6 billion at the end of last quarter.Net unrealized gains on investments (net of taxes) were $3.4 billion as of March 31, 2017, down from $3.7 billion at the end of last quarter. • At insurance operations:The consolidated combined ratio for Markel's insurance operations was 90% -- which means it earned $10 for every $100 in premiums it wrote -- including combined ratios of 97% from reinsurance, and 89% from Markel's combined U.S. and international insurance segment.Gross premium volume in underwriting operations grew 9% year over year to $2.047 billion. Note thisdoesn'tinclude roughly $461.2 million of gross premiums written through Markel's program services business, which was acquired through its purchase of State National in late 2017. Essentially all gross premiums written through that business were ceded to third parties this quarter. • At Markel Ventures:Operating revenue grew 36.6% to $392.1 million, driven primarily by the acquisition of Costa Farms inlast year's third quarter.Ventures' net income to shareholders fell slightly year over year to $13.6 million, largely due to lower revenue and higher costs at one of Markel's industrial products businesses, as well as the impact of acquisition expenses and lower seasonal sales from Costa Farms.SegmentEBITDAgrew 3.4% to $46.6 million. Co-CEOs Richard Whitt and Tom Gayner together stated: Our underwriting results for the quarter were solid and reflect profitable growth from recent acquisitions as well as our continued focus on underwriting discipline. Comprehensive loss to shareholders and book value per share were impacted by declines in both our fixed income and equity portfolios, driven by an increase in interest rates and unfavorable movements in the equity markets during the period. However, we continue to maintain a long-term focus with our investment strategy. Contributions from our Markel Ventures operations reflect both organic growth and the recent acquisition of Costa Farms. During the subsequent conference call, Gayner reiterated that Markel's "short-term investment results reflect normal short-term volatility," and are essentially in line with changes in both equity markets and interest rates. Gayner also offered this perspective: In our equity portfolio, we were down 1.3% during the quarter. Over the last five and a quarter years, we're up 216% cumulatively. Over that time frame, we've been up as much as 33% in a single year and down as much as 2.5% in a year. I would happily sign up for those results for the next five years. And we continue to invest each day with the same discipline that has produced such outstanding long-term results. Markel doesn't offer specific financial guidance. But while this quarter may not look great after a quick glance at the headline numbers, it represents a continuation of Markel's proven efforts to consistently grow its various businesses and generate market-beating returns in the process. And I think patient, long-term shareholders should be more than happy with its progress to that end. More From The Motley Fool • 3 Growth Stocks at Deep-Value Prices • 5 Expected Social Security Changes in 2018 • 6 Years Later, 6 Charts That Show How Far Apple, Inc. Has Come Since Steve Jobs' Passing • 10 Best Stocks to Buy Today • The $16,122 Social Security Bonus You Cannot Afford to Miss • Bitcoin's Biggest Competitor Isn't Ethereum -- It's This Steve Symingtonowns shares of Markel. The Motley Fool owns shares of and recommends Markel. The Motley Fool has adisclosure policy. \|\| With Market Volatility, Markel Leans on Insurance Strength: Markel Corporation (NYSE: MKL) announced first-quarter 2018 results on Tuesday after the market closed, punctuated by a net loss from the financial holding company's investment portfolio. But in keeping with executives' methodical approach to generating shareholder value, Markel management took the opportunity to showcase the merits of their long-term thinking and diversified business operations. Let's dig deeper into how Markel started the new year, as well as what investors should expect from the company going forward. Man wearing khakis and an Oxford shirt standing on a ladder and spray painting a rising chart on a brick wall Image source: Getty Images. Markel results: The raw numbers Metric Q1 2018 Q1 2017 Year-Over-Year Growth Operating revenue $1.575 billion $1.412 billion 11.6% Net income (loss) to shareholders ($64.3 million) $71.0 million N/A Net income (loss) per diluted share ($4.25) $3.90 N/A Book value per share $671.05 $620.30 8.2% Data source: Markel Corporation. What happened with Markel this quarter? Markel's net loss was negatively impacted by the adoption of new accounting standards implemented at the start of the year, which required recognizing a $122.1 million pre-tax loss related to the decline in fair value of its equities portfolio since the end of 2017. It also included a pre-tax foreign currency loss of $22.1 million, and a non-recurring tax expense of $99.5 million. Markel's comprehensive loss to shareholders -- which notably includes a $116.1 million decline in net unrealized gains on available-for-sale investments (net of taxes) -- was $174.8 million. At investment operations: Net investment income increased 7.6% to $108 million, driven by higher short-term interest rates and higher dividend income from equity investments. Total invested assets were $20.3 billion as of March 31, 2018, down from $20.6 billion at the end of 2017. Equity securities were $5.9 billion, or 29% of invested assets, down from $6 billion at the end of last quarter. Net unrealized gains on investments (net of taxes) were $3.4 billion as of March 31, 2017, down from $3.7 billion at the end of last quarter. At insurance operations: The consolidated combined ratio for Markel's insurance operations was 90% -- which means it earned $10 for every $100 in premiums it wrote -- including combined ratios of 97% from reinsurance, and 89% from Markel's combined U.S. and international insurance segment. Gross premium volume in underwriting operations grew 9% year over year to $2.047 billion. Note this doesn't include roughly $461.2 million of gross premiums written through Markel's program services business, which was acquired through its purchase of State National in late 2017. Essentially all gross premiums written through that business were ceded to third parties this quarter. At Markel Ventures: Operating revenue grew 36.6% to $392.1 million, driven primarily by the acquisition of Costa Farms in last year's third quarter . Ventures' net income to shareholders fell slightly year over year to $13.6 million, largely due to lower revenue and higher costs at one of Markel's industrial products businesses, as well as the impact of acquisition expenses and lower seasonal sales from Costa Farms. Segment EBITDA grew 3.4% to $46.6 million. Story continues What management had to say Co-CEOs Richard Whitt and Tom Gayner together stated: Our underwriting results for the quarter were solid and reflect profitable growth from recent acquisitions as well as our continued focus on underwriting discipline. Comprehensive loss to shareholders and book value per share were impacted by declines in both our fixed income and equity portfolios, driven by an increase in interest rates and unfavorable movements in the equity markets during the period. However, we continue to maintain a long-term focus with our investment strategy. Contributions from our Markel Ventures operations reflect both organic growth and the recent acquisition of Costa Farms. During the subsequent conference call, Gayner reiterated that Markel's "short-term investment results reflect normal short-term volatility," and are essentially in line with changes in both equity markets and interest rates. Gayner also offered this perspective: In our equity portfolio, we were down 1.3% during the quarter. Over the last five and a quarter years, we're up 216% cumulatively. Over that time frame, we've been up as much as 33% in a single year and down as much as 2.5% in a year. I would happily sign up for those results for the next five years. And we continue to invest each day with the same discipline that has produced such outstanding long-term results. Looking forward Markel doesn't offer specific financial guidance. But while this quarter may not look great after a quick glance at the headline numbers, it represents a continuation of Markel's proven efforts to consistently grow its various businesses and generate market-beating returns in the process. And I think patient, long-term shareholders should be more than happy with its progress to that end. More From The Motley Fool 3 Growth Stocks at Deep-Value Prices 5 Expected Social Security Changes in 2018 6 Years Later, 6 Charts That Show How Far Apple, Inc. Has Come Since Steve Jobs' Passing 10 Best Stocks to Buy Today The $16,122 Social Security Bonus You Cannot Afford to Miss Bitcoin's Biggest Competitor Isn't Ethereum -- It's This Steve Symington owns shares of Markel. The Motley Fool owns shares of and recommends Markel. The Motley Fool has a disclosure policy . \|\| Why Tripadvisor Inc Stock Slipped Today: What happened Shares of Tripadvisor Inc (NASDAQ: TRIP) were heading lower today, falling in sympathy with Trivago (NASDAQ: TRVG) after shares of the hotel-booking platform crashed 24% when the company recorded a decline in first-quarter revenue and cut its guidance for the year. Though there was no direct news out on Tripadvisor today, shares of the travel-recommendation service nonetheless finished down 8.5% today as it is subject to many of the same business trends as Trivago in the online travel industry. Man sits at computer surrounded by travel related items such as a map, photos, and a camera. Image source: Getty Images. So what Like Trivago, TripAdvisor makes much of its money through referrals to larger online travel agencies like Booking Holdings and Expedia , both of which pay to bid on clicks through such partner sites. Competitive dynamics fluctuate inside the online travel industry as the larger players at times aggressively go after market share, spending more to win bids. However, Trivago management said that partners such as Booking Holdings and Expedia were more focused on profitability in the quarter, meaning they likely scaled back on their marketing budget for platforms like Trivago and Tripadvisor. Trivago also said that qualified referrals increased 7% in the quarter, but revenue fell 3% in part due to currency fluctuations, indicating that partners were spending less to get referrals. Now what Like Trivago, Tripadvisor has struggled in recent quarters as revenue growth has slowed and profits have fallen due to weaker monetization rates on mobile ads than desktop ads, and due to the company's launch of its Instant Booking platform hitting unexpected headwinds. Still, investor expectations for Tripadvisor are low and the stock spiked on its last report as a weak round of results managed to beat expectations. We'll learn more when Tripadvisor reports first quarter earnings on May 8. Analysts are expecting revenue to decline 2.7% to $362.1 million and earnings per share to fall from $0.24 a year ago to $0.16. While that's a low bar to overcome, Trivago's weak results and its decision to cut full-year guidance to flat revenue growth doesn't bode well for its peer. Story continues More From The Motley Fool 3 Growth Stocks at Deep-Value Prices 5 Expected Social Security Changes in 2018 6 Years Later, 6 Charts That Show How Far Apple, Inc. Has Come Since Steve Jobs' Passing 10 Best Stocks to Buy Today The $16,122 Social Security Bonus You Cannot Afford to Miss Bitcoin's Biggest Competitor Isn't Ethereum -- It's This Jeremy Bowman has no position in any of the stocks mentioned. The Motley Fool owns shares of and recommends Booking Holdings and TripAdvisor. The Motley Fool recommends Expedia and Trivago. The Motley Fool has a disclosure policy . \|\| Why Tripadvisor Inc Stock Slipped Today: Shares ofTripadvisor Inc(NASDAQ: TRIP)were heading lower today, falling in sympathy withTrivago(NASDAQ: TRVG)after shares of the hotel-booking platformcrashed24% when the company recorded a decline in first-quarter revenue and cut its guidance for the year. Though there was no direct news out on Tripadvisor today, shares of the travel-recommendation service nonetheless finished down 8.5% today as it is subject to many of the same business trends as Trivago in the online travel industry. Image source: Getty Images. Like Trivago, TripAdvisor makes much of its money through referrals to larger online travel agencies likeBooking HoldingsandExpedia, both of which pay to bid on clicks through such partner sites. Competitive dynamics fluctuate inside the online travel industry as the larger players at times aggressively go after market share, spending more to win bids. However, Trivago management said that partners such as Booking Holdings and Expedia were more focused on profitability in the quarter, meaning they likely scaled back on their marketing budget for platforms like Trivago and Tripadvisor. Trivago also said that qualified referrals increased 7% in the quarter, but revenue fell 3% in part due to currency fluctuations, indicating that partners were spending less to get referrals. Like Trivago, Tripadvisor has struggled in recent quarters as revenue growth has slowed and profits have fallen due to weaker monetization rates on mobile ads than desktop ads, and due to the company's launch of its Instant Booking platform hitting unexpected headwinds. Still, investor expectations for Tripadvisor are low and the stock spiked on its last report as a weak round of results managed to beat expectations. We'll learn more when Tripadvisor reports first quarter earnings on May 8. Analysts are expecting revenue to decline 2.7% to $362.1 million and earnings per share to fall from $0.24 a year ago to $0.16. While that's a low bar to overcome, Trivago's weak results and its decision to cut full-year guidance to flat revenue growth doesn't bode well for its peer. More From The Motley Fool • 3 Growth Stocks at Deep-Value Prices • 5 Expected Social Security Changes in 2018 • 6 Years Later, 6 Charts That Show How Far Apple, Inc. Has Come Since Steve Jobs' Passing • 10 Best Stocks to Buy Today • The $16,122 Social Security Bonus You Cannot Afford to Miss • Bitcoin's Biggest Competitor Isn't Ethereum -- It's This Jeremy Bowmanhas no position in any of the stocks mentioned. The Motley Fool owns shares of and recommends Booking Holdings and TripAdvisor. The Motley Fool recommends Expedia and Trivago. The Motley Fool has adisclosure policy. \|\| Apple Inc.'s A12 Chip Is Likely in Mass Production Right Now: Later this year,Apple Inc.(NASDAQ: AAPL)is expected to unveil a trio of next-generation iPhones. At the heart of these new iPhones will be a new applications processor, likely called theA12. The A12 should bring a big leap in performance and efficiency compared to the company's prior generationA11 Bionic chip, thanks to design improvements by Apple coupled with a migration toTaiwan Semiconductor Manufacturing Company's(NYSE: TSM)new 7-nanometer chip manufacturing technology. Image source: Apple. The Taiwan Semiconductor (TSMC) 7-nanometer technology, referred to as N7, promises performance, power efficiency, and chip area improvements over the N10 technology that's used to manufacture Apple's A11 chip. According to TSMC executives on the company's most recent earnings conference call, N7 is now in high volume production. It's very likely that the lead product to be manufactured on TSMC's N7 technology is the Apple A12 chip, which seems to indicate that TSMC has begun producing Apple's A12 chip. The good news for Apple, then, is that this is right on schedule. Allow me to explain. Chips are produced by applying a complex series of processing steps to a silicon wafer. The processing of a wafer is so complex that it doesn't just take a few hours or even a few days to go from a blank wafer to a fully processed one -- it generally takes months. A good rule of thumb is that it takes around three months to go from a blank wafer to a fully processed one. After the wafer is processed and the individual chips, known as dies, are freed, the chips are then mounted onto silicon packages, tested, and sent to the customer (in this case, Apple's contract manufacturers). The packaging and testing take additional time. On top of the significant time needed to build, package, and test the chips from start to finish, it takes time for Apple's contract manufacturers to incorporate those chips into finished devices. If Apple is going to be shipping millions of new iPhones to customers within weeks of their announcements sometime in mid-September, then it'll need to have finished iPhones rolling off the production lines sometime in mid-to-late August. Considering how long it takes to go from a blank silicon wafer to a fully packaged and tested processor, and considering the sheer volumes of A12 chips that Apple will need to support its launch, it makes perfect sense that TSMC is starting to produce the chips now, in April. If we assume production began on April 1, then the first chips should be rolling off TSMC's manufacturing lines roughly three months later, in early July. If Apple's contract manufacturers get the first batches of A12 chips in early July, then it's reasonable to expect fully finished iPhones to start coming out in late July or early August. With enough lead time, Apple should be able to produce millions of these phones to support a launch in September. In other words, everything seems to be going to plan. We'll get to see just how good both TSMC's N7 manufacturing technology and Apple's A12 chip design are in less than six months -- and I can't wait! More From The Motley Fool • 3 Growth Stocks at Deep-Value Prices • 5 Expected Social Security Changes in 2018 • 6 Years Later, 6 Charts That Show How Far Apple, Inc. Has Come Since Steve Jobs' Passing • 10 Best Stocks to Buy Today • The $16,122 Social Security Bonus You Cannot Afford to Miss • Bitcoin's Biggest Competitor Isn't Ethereum -- It's This Ashraf Eassahas no position in any of the stocks mentioned. The Motley Fool owns shares of and recommends Apple. The Motley Fool has the following options: long January 2020 $150 calls on Apple and short January 2020 $155 calls on Apple. The Motley Fool has adisclosure policy. \|\| Apple Inc.'s A12 Chip Is Likely in Mass Production Right Now: Later this year, Apple Inc. (NASDAQ: AAPL) is expected to unveil a trio of next-generation iPhones. At the heart of these new iPhones will be a new applications processor, likely called the A12 . The A12 should bring a big leap in performance and efficiency compared to the company's prior generation A11 Bionic chip , thanks to design improvements by Apple coupled with a migration to Taiwan Semiconductor Manufacturing Company 's (NYSE: TSM) new 7-nanometer chip manufacturing technology. An Apple iPhone 8 Plus (left) and iPhone 8 (right) in red. Image source: Apple. The Taiwan Semiconductor (TSMC) 7-nanometer technology, referred to as N7, promises performance, power efficiency, and chip area improvements over the N10 technology that's used to manufacture Apple's A11 chip. According to TSMC executives on the company's most recent earnings conference call, N7 is now in high volume production. It's very likely that the lead product to be manufactured on TSMC's N7 technology is the Apple A12 chip, which seems to indicate that TSMC has begun producing Apple's A12 chip. The good news for Apple, then, is that this is right on schedule. Allow me to explain. It takes time to build chips Chips are produced by applying a complex series of processing steps to a silicon wafer. The processing of a wafer is so complex that it doesn't just take a few hours or even a few days to go from a blank wafer to a fully processed one -- it generally takes months. A good rule of thumb is that it takes around three months to go from a blank wafer to a fully processed one. After the wafer is processed and the individual chips, known as dies, are freed, the chips are then mounted onto silicon packages, tested, and sent to the customer (in this case, Apple's contract manufacturers). The packaging and testing take additional time. On top of the significant time needed to build, package, and test the chips from start to finish, it takes time for Apple's contract manufacturers to incorporate those chips into finished devices. Story continues Right on cue If Apple is going to be shipping millions of new iPhones to customers within weeks of their announcements sometime in mid-September, then it'll need to have finished iPhones rolling off the production lines sometime in mid-to-late August. Considering how long it takes to go from a blank silicon wafer to a fully packaged and tested processor, and considering the sheer volumes of A12 chips that Apple will need to support its launch, it makes perfect sense that TSMC is starting to produce the chips now, in April. If we assume production began on April 1, then the first chips should be rolling off TSMC's manufacturing lines roughly three months later, in early July. If Apple's contract manufacturers get the first batches of A12 chips in early July, then it's reasonable to expect fully finished iPhones to start coming out in late July or early August. With enough lead time, Apple should be able to produce millions of these phones to support a launch in September. In other words, everything seems to be going to plan. We'll get to see just how good both TSMC's N7 manufacturing technology and Apple's A12 chip design are in less than six months -- and I can't wait! More From The Motley Fool 3 Growth Stocks at Deep-Value Prices 5 Expected Social Security Changes in 2018 6 Years Later, 6 Charts That Show How Far Apple, Inc. Has Come Since Steve Jobs' Passing 10 Best Stocks to Buy Today The $16,122 Social Security Bonus You Cannot Afford to Miss Bitcoin's Biggest Competitor Isn't Ethereum -- It's This Ashraf Eassa has no position in any of the stocks mentioned. The Motley Fool owns shares of and recommends Apple. The Motley Fool has the following options: long January 2020 $150 calls on Apple and short January 2020 $155 calls on Apple. The Motley Fool has a disclosure policy . \|\| Today In Cryptocurrency: Hacker Steals Ethereum, Nasdaq Open To Crypto Trading: The cryptocurrency market hot streak took a breather on Wednesday, with most major currencies down more than 4 percent. Here’s a look at some of the headlines that were moving the cryptocurrency market today and which currencies were on the move. Headlines Chinese policeseized 600 bitcoin mining machines in Tianjin after a local power company reported abnormal electricity usage. Five people connected to the operation are under investigation in what the police are calling the “largest power theft case in recent years.” A hacker reportedly used aphishing scamto re-route traffic from MyEtherWallet.com this week. The hacker, which used a fake MyEtherWallet site hosted on a server in Russia, reportedly re-routed about 180 transactions before making off with roughly $151,000 in Ether. Nasdaq Inc(NASDAQ:NDAQ) CEO Adena Friedman told CNBC the company is open to the possibility of adding a cryptocurrency exchange over time. Nasdaq also announced a deal to allow cryptocurrency exchange Gemini access to Nasdaq’s surveillance technology. Friedman told CNBC that cryptocurrency regulations must first be ironed out before the Nasdaq would add a crypto exchange. Price Action TheBitcoin Investment Trust(OTC:GBTC) traded at $15.22, down 9.8 percent. Here’s how several top crypto investments fared Wednesday. Prices are as of 3:45 p.m. ET and reflect the previous 24 hours. • Bitcoin declined 4.4 percent to $8,996; • Ethereum declined 10.7 percent to $629; • Ripple declined 12.6 percent to 81 cents; • Bitcoin Cash declined 10.3 percent to $1,319; • EOS declined 2.8 percent to $14.69. The three cryptocurrencies with at least $1-million market caps that have made the biggest gains over the past 24 hours are: • FedoraCoin: $7.5-million market cap, 73.1-percent gain. • ZClassic: $88.8-million market cap, 47.3-percent gain. • IncaKoin: $2.5-million market cap, 44.3-percent gain. The three cryptocurrencies hit hardest in the past 24 hours were: • DNotes: $2.2-million market cap, 40.4-percent loss. • FirstCoin: $1.3-million market cap, 35.8-percent loss. • Zeitcoin: $3.3-million market cap, 30.4-percent loss. Related Links: Today In Cryptocurrency: Ethereum Rises, Tech CEO Calls Bitcoin A Scam, Institutions Warming To Crypto Trading From Acquisitions To New Hires, Coinbase Has Been Busy See more from Benzinga • Today In Cryptocurrency: Ethereum Rises, Tech CEO Calls Bitcoin A Scam, Institutions Warming To Crypto Trading • Today In Cryptocurrency: Bitcoin Cash Booms, Investor Compares Bitcoin To The Internet • Today In Cryptocurrency: European Regulations, Binance 'Fake News' © 2018 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. \|\| Today In Cryptocurrency: Hacker Steals Ethereum, Nasdaq Open To Crypto Trading: The cryptocurrency market hot streak took a breather on Wednesday, with most major currencies down more than 4 percent. Here’s a look at some of the headlines that were moving the cryptocurrency market today and which currencies were on the move. Headlines Chinese police seized 600 bitcoin mining machines in Tianjin after a local power company reported abnormal electricity usage. Five people connected to the operation are under investigation in what the police are calling the “largest power theft case in recent years.” A hacker reportedly used a phishing scam to re-route traffic from MyEtherWallet.com this week. The hacker, which used a fake MyEtherWallet site hosted on a server in Russia, reportedly re-routed about 180 transactions before making off with roughly $151,000 in Ether. Nasdaq Inc (NASDAQ: NDAQ ) CEO Adena Friedman told CNBC the company is open to the possibility of adding a cryptocurrency exchange over time. Nasdaq also announced a deal to allow cryptocurrency exchange Gemini access to Nasdaq’s surveillance technology. Friedman told CNBC that cryptocurrency regulations must first be ironed out before the Nasdaq would add a crypto exchange. Price Action The Bitcoin Investment Trust (OTC: GBTC ) traded at $15.22, down 9.8 percent. Here’s how several top crypto investments fared Wednesday. Prices are as of 3:45 p.m. ET and reflect the previous 24 hours. Bitcoin declined 4.4 percent to $8,996; Ethereum declined 10.7 percent to $629; Ripple declined 12.6 percent to 81 cents; Bitcoin Cash declined 10.3 percent to $1,319; EOS declined 2.8 percent to $14.69. The three cryptocurrencies with at least $1-million market caps that have made the biggest gains over the past 24 hours are: FedoraCoin: $7.5-million market cap, 73.1-percent gain. ZClassic: $88.8-million market cap, 47.3-percent gain. IncaKoin: $2.5-million market cap, 44.3-percent gain. The three cryptocurrencies hit hardest in the past 24 hours were: DNotes: $2.2-million market cap, 40.4-percent loss. FirstCoin: $1.3-million market cap, 35.8-percent loss. Zeitcoin: $3.3-million market cap, 30.4-percent loss. Story continues Related Links: Today In Cryptocurrency: Ethereum Rises, Tech CEO Calls Bitcoin A Scam, Institutions Warming To Crypto Trading From Acquisitions To New Hires, Coinbase Has Been Busy See more from Benzinga Today In Cryptocurrency: Ethereum Rises, Tech CEO Calls Bitcoin A Scam, Institutions Warming To Crypto Trading Today In Cryptocurrency: Bitcoin Cash Booms, Investor Compares Bitcoin To The Internet Today In Cryptocurrency: European Regulations, Binance 'Fake News' © 2018 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. \|\| Nasdaq open to cryptocurrency exchange in future, says CEO: By John McCrank and Nikhil Subba (Reuters) - Nasdaq Inc (NDAQ.O) is open to launching a cryptocurrency exchange in the future as the regulatory environment evolves, the head of the exchange operator said on Wednesday. The view that cryptocurrencies, such as bitcoin (BTC=BTSP) will be a future way to support commerce is becoming more mainstream, Nasdaq's Chief Executive Officer, Adena Friedman, said in an interview following the announcement of better-than-expected quarterly earnings. But the virtual currencies are still very lightly regulated. That is part of the appeal to many early adopters but would have to change in order for Nasdaq to operate a cryptocurrency exchange, Friedman said. "Over time, if it ultimately does morph into a regulated environment, it does give us an opportunity to participate as a marketplace, but I think that is a longer road and it doesn't have a certain path right now," she said. In the meantime, Nasdaq is exploring deals with several virtual currency exchanges to provide market infrastructure technology for trading and clearing, as well as surveillance, she said. Nasdaq on Wednesday announced a surveillance deal with Gemini Trust Company to monitor cryptocurrency trading on its exchange for potential market manipulation and fraud. EARNINGS Nasdaq's net income in the first quarter rose to $177 million, or $1.05 per share, from $168 million, or 99 cents per share, a year earlier, helped by a volatility-driven spike in trading volumes. Stripping out special items, such as merger and acquisitions costs, the transatlantic exchange operator earned $1.24 per share, topping analysts' average estimates by four cents, according to Thomson Reuters I/B/E/S. Volatility spiked in February after a prolonged calm in 2017, roiling global equities, bonds, currencies and commodities markets, and remained elevated through the end of March. Revenue rose 14.6 percent to $666 million. Revenue from market services, the company's largest business, jumped more than 21 percent to $735 million. Sales from Nasdaq's non-trading related businesses also grew, with revenue from its market technology unit rising 7.7 percent to $70 million, and revenue from information services up 26 percent at $174 million. Corporate services, which includes market listings, rose 7.5 percent to $172 million, as Nasdaq saw 37 IPOs in the quarter, including those of cloud storage company Dropbox (DBX.O) and Chinese video streaming platform iQiyi (IQ.O). (Reporting by Nikhil Subba in Bengaluru and John McCrank in New York; Editing by Saumyadeb Chakrabarty and Rosalba O'Brien) \|\| Nasdaq open to cryptocurrency exchange in future, says CEO: By John McCrank and Nikhil Subba (Reuters) - Nasdaq Inc (NDAQ.O) is open to launching a cryptocurrency exchange in the future as the regulatory environment evolves, the head of the exchange operator said on Wednesday. The view that cryptocurrencies, such as bitcoin (BTC=BTSP) will be a future way to support commerce is becoming more mainstream, Nasdaq's Chief Executive Officer, Adena Friedman, said in an interview following the announcement of better-than-expected quarterly earnings. But the virtual currencies are still very lightly regulated. That is part of the appeal to many early adopters but would have to change in order for Nasdaq to operate a cryptocurrency exchange, Friedman said. "Over time, if it ultimately does morph into a regulated environment, it does give us an opportunity to participate as a marketplace, but I think that is a longer road and it doesn't have a certain path right now," she said. In the meantime, Nasdaq is exploring deals with several virtual currency exchanges to provide market infrastructure technology for trading and clearing, as well as surveillance, she said. Nasdaq on Wednesday announced a surveillance deal with Gemini Trust Company to monitor cryptocurrency trading on its exchange for potential market manipulation and fraud. EARNINGS Nasdaq's net income in the first quarter rose to $177 million, or $1.05 per share, from $168 million, or 99 cents per share, a year earlier, helped by a volatility-driven spike in trading volumes. Stripping out special items, such as merger and acquisitions costs, the transatlantic exchange operator earned $1.24 per share, topping analysts' average estimates by four cents, according to Thomson Reuters I/B/E/S. Volatility spiked in February after a prolonged calm in 2017, roiling global equities, bonds, currencies and commodities markets, and remained elevated through the end of March. Revenue rose 14.6 percent to $666 million. Revenue from market services, the company's largest business, jumped more than 21 percent to $735 million. Story continues Sales from Nasdaq's non-trading related businesses also grew, with revenue from its market technology unit rising 7.7 percent to $70 million, and revenue from information services up 26 percent at $174 million. Corporate services, which includes market listings, rose 7.5 percent to $172 million, as Nasdaq saw 37 IPOs in the quarter, including those of cloud storage company Dropbox (DBX.O) and Chinese video streaming platform iQiyi (IQ.O). (Reporting by Nikhil Subba in Bengaluru and John McCrank in New York; Editing by Saumyadeb Chakrabarty and Rosalba O'Brien) \|\| Verizon's Wireless Business Stabilizes in First Quarter: Verizon Communications (NYSE: VZ) reported first-quarter earnings on April 24, and the telecom giant's important wireless segment continued to stabilize. Remember that a year ago, Verizon reported its first-ever loss of postpaid wireless subscribers . Big Red has been aggressively expanding into media assets in recent years and is now exploring over-the-top (OTT) options to mitigate cord-cutting. Verizon is not actively considering any new giant media deals, while rival AT&T continues to fight with the U.S. Department of Justice over its proposed acquisition of Time Warner . Verizon Communications results: The raw numbers Metric Q1 2018 Q1 2017 Year-Over-Year Change Total operating revenue $31.8 billion $29.8 billion 6.6% Adjusted earnings per share $1.17 $0.95 23% Total retail wireless connections 116.2 million 113.9 million 2% Retail churn 1.28% 1.39% (11 basis points) Retail postpaid average revenue per account (ARPA) $131.71 $136.98 (3.8%) Fios video subscribers 4.6 million 4.7 million (1.8%) Data source: Verizon. What happened with Verizon Communications this quarter? Verizon finished the first quarter with 116.2 million retail wireless connections, maintaining its title as the largest domestic carrier. While that total increased year over year, Verizon still lost valuable phone customers. Verizon reported net adds of 260,000 retail postpaid connections, but that includes losing 24,000 phone connections and 75,000 tablet connections. Those subscriber losses were offset by adding 359,000 connected devices, which were mostly wearables. Cell plans for wearable devices do not generate nearly as much revenue as smartphone plans do. A dial showing 3G, 4G, and 5G Image source: Getty Images. Additionally, here are some other details from the first quarter: Approximately 81% of the postpaid phone base are now on unsubsidized service plans, up from 72% a year ago. Retail postpaid churn improved to 1.04%, compared to 1.15% a year ago. There were net adds of 66,000 Fios internet connections, while Verizon lost 22,000 Fios video connections due to cord-cutting. Subsidiary Oath, which represents Verizon's media business, saw revenue (excluding the impact of recent changes to revenue recognition standards) decline 13% to $1.9 billion, due to seasonal factors in the display advertising market. The deployment of 5G is progressing according to schedule, with the launch of commercial service still expected this year. Capital expenditures were $2.4 billion. Story continues What management had to say On the conference call , CFO Matt Ellis said Verizon is considering an OTT video service, but doesn't want to simply launch a copycat product: "We continue to look at OTT options, and as we've said previously, we're not looking to launch a 'me, too' product, but certainly expect to have an overall product offering to consumers in those three to five markets that will be compelling and meet their needs." The Unlimited plans that were unveiled a year ago are helping to reduce churn. Ellis added, "Our Unlimited offerings continue to provide a compelling value and overall customer experience that has led to postpaid phone churn of 0.80% for the quarter. This represents the fourth consecutive quarter of customer retention at 0.80% or better." Instead of pursuing any more traditional media assets, Verizon is more focused on distributing digital content. Ellis said: At this point in time, as we look at the ecosystem, we're very comfortable with the approach of making sure we have distribution rights to digital content. You saw that with the NFL deal, the NBA deal, and I would expect to see us continue to add to that portfolio of digital rights to distribute across various Yahoo platforms, Oath platforms, as we go forward. So, look, the content space is evolving rapidly, and we think the best approach for us at this point in time is to be that independent distributor of rights out there, and we're very comfortable that we'll be very effective doing that. Looking forward Verizon's guidance for 2018 is largely unchanged from last quarter . The company still expects full-year revenue growth in the "low single-digit percentage rates" on a GAAP basis, and expects service revenue growth to turn positive by the end of the year. Adjusted EPS should be up in the low single-digit percentages as well. Capital expenditures are still forecast at $17 billion to $17.8 billion, which includes the costs associated with the commercial launch of 5G. The company's effective tax rate for 2018 is expected to be in the range of 24% to 26% following tax reform. More From The Motley Fool 3 Growth Stocks at Deep-Value Prices 5 Expected Social Security Changes in 2018 6 Years Later, 6 Charts That Show How Far Apple, Inc. Has Come Since Steve Jobs' Passing 10 Best Stocks to Buy Today The $16,122 Social Security Bonus You Cannot Afford to Miss Bitcoin's Biggest Competitor Isn't Ethereum -- It's This Evan Niu, CFA has no position in any of the stocks mentioned. The Motley Fool owns shares of and recommends Verizon Communications. The Motley Fool recommends TWX. The Motley Fool has a disclosure policy . \|\| Verizon's Wireless Business Stabilizes in First Quarter: Verizon Communications(NYSE: VZ)reported first-quarter earnings on April 24, and the telecom giant's important wireless segment continued to stabilize. Remember that a year ago, Verizon reported itsfirst-ever loss of postpaid wireless subscribers. Big Red has been aggressively expanding into media assets in recent years and is now exploring over-the-top (OTT) options to mitigate cord-cutting. Verizon is not actively considering any new giant media deals, while rivalAT&Tcontinues to fight with the U.S. Department of Justice over its proposed acquisition ofTime Warner. [{"Metric": "Total operating revenue", "Q1 2018": "$31.8 billion", "Q1 2017": "$29.8 billion", "Year-Over-Year Change": "6.6%"}, {"Metric": "Adjusted earnings per share", "Q1 2018": "$1.17", "Q1 2017": "$0.95", "Year-Over-Year Change": "23%"}, {"Metric": "Total retail wireless connections", "Q1 2018": "116.2 million", "Q1 2017": "113.9 million", "Year-Over-Year Change": "2%"}, {"Metric": "Retail churn", "Q1 2018": "1.28%", "Q1 2017": "1.39%", "Year-Over-Year Change": "(11 basis points)"}, {"Metric": "Retail postpaid average revenue per account (ARPA)", "Q1 2018": "$131.71", "Q1 2017": "$136.98", "Year-Over-Year Change": "(3.8%)"}, {"Metric": "Fios video subscribers", "Q1 2018": "4.6 million", "Q1 2017": "4.7 million", "Year-Over-Year Change": "(1.8%)"}] Data source: Verizon. Verizon finished the first quarter with 116.2 million retail wireless connections, maintaining its title as the largest domestic carrier. While that total increased year over year, Verizon still lost valuable phone customers. Verizon reported net adds of 260,000 retail postpaid connections, but that includes losing 24,000 phone connections and 75,000 tablet connections. Those subscriber losses were offset by adding 359,000 connected devices, which were mostly wearables. Cell plans for wearable devices do not generate nearly as much revenue as smartphone plans do. Image source: Getty Images. Additionally, here are some other details from the first quarter: • Approximately 81% of the postpaid phone base are now on unsubsidized service plans, up from 72% a year ago. • Retail postpaid churn improved to 1.04%, compared to 1.15% a year ago. • There were net adds of 66,000 Fios internet connections, while Verizon lost 22,000 Fios video connections due to cord-cutting. • Subsidiary Oath, which represents Verizon's media business, saw revenue (excluding the impact of recent changes to revenue recognition standards) decline 13% to $1.9 billion, due to seasonal factors in the display advertising market. • The deployment of 5G is progressing according to schedule, with the launch of commercial service still expected this year. • Capital expenditures were $2.4 billion. On theconference call, CFO Matt Ellis said Verizon is considering an OTT video service, but doesn't want to simply launch a copycat product: "We continue to look at OTT options, and as we've said previously, we're not looking to launch a 'me, too' product, but certainly expect to have an overall product offering to consumers in those three to five markets that will be compelling and meet their needs." The Unlimited plans that were unveiled a year ago are helping to reduce churn. Ellis added, "Our Unlimited offerings continue to provide a compelling value and overall customer experience that has led to postpaid phone churn of 0.80% for the quarter. This represents the fourth consecutive quarter of customer retention at 0.80% or better." Instead of pursuing any more traditional media assets, Verizon is more focused on distributing digital content. Ellis said: At this point in time, as we look at the ecosystem, we're very comfortable with the approach of making sure we have distribution rights to digital content. You saw that with the NFL deal, the NBA deal, and I would expect to see us continue to add to that portfolio of digital rights to distribute across various Yahoo platforms, Oath platforms, as we go forward. So, look, the content space is evolving rapidly, and we think the best approach for us at this point in time is to be that independent distributor of rights out there, and we're very comfortable that we'll be very effective doing that. Verizon's guidance for 2018 is largely unchanged fromlast quarter. The company still expects full-year revenue growth in the "low single-digit percentage rates" on aGAAPbasis, and expects service revenue growth to turn positive by the end of the year. Adjusted EPS should be up in the low single-digit percentages as well. Capital expenditures are still forecast at $17 billion to $17.8 billion, which includes the costs associated with the commercial launch of 5G. The company's effective tax rate for 2018 is expected to be in the range of 24% to 26% following tax reform. More From The Motley Fool • 3 Growth Stocks at Deep-Value Prices • 5 Expected Social Security Changes in 2018 • 6 Years Later, 6 Charts That Show How Far Apple, Inc. Has Come Since Steve Jobs' Passing • 10 Best Stocks to Buy Today • The $16,122 Social Security Bonus You Cannot Afford to Miss • Bitcoin's Biggest Competitor Isn't Ethereum -- It's This Evan Niu, CFAhas no position in any of the stocks mentioned. The Motley Fool owns shares of and recommends Verizon Communications. The Motley Fool recommends TWX. The Motley Fool has adisclosure policy. \|\| Why Shares of Inphi Corp. Slumped Today: What happened Shares of Inphi Corp. (NYSE: IPHI) dropped on Wednesday following a mixed first-quarter report and a subsequent analyst downgrade. The company's revenue declined sharply and came in just short of analyst expectations. The stock was down about 9.5% at 2:45 p.m. EDT. So what Inphi reported first-quarter revenue of $60.1 million, down 35.7% year over year and about $1.1 million below the average analyst estimate. The company blamed lower demand for linear transimpedance amplifier and linear driver products for the decline in revenue. Non- GAAP earnings per share came in at a loss of $0.05, down from a profit of $0.44 in the prior-year period and in line with analyst expectations. A slumping chart with downward arrow and stock prices. Image source: Getty Images. Inphi President and CEO Ford Tamer believes that the worst may be over for the company, reiterating what he said in the fourth-quarter report in February : "We believe Q1 represented the bottom of a down cycle driven by inventory buildups in China long-haul and metro markets." At least one analyst cooled a bit on the stock following the first-quarter report. Needham knocked Inphi stock down to "buy" from a previous rating of "strong buy." Its new price target of $35 per share is just 11% above the closing price on Tuesday. Now what Inphi expects to produce between $67.3 million and $71.3 million of revenue during the second quarter, along with non-GAAP earnings per share (EPS) between $0.12 and $0.14. While those ranges represent sequential improvements, both are down considerably from the second quarter of last year. At the midpoint, second-quarter revenue will decline by 17.9% year over year, while non-GAAP EPS will tumble 62.9%. While Inphi's second quarter will be stronger than its first quarter, a return to year-over-year growth may still be a few quarters away. More From The Motley Fool 3 Growth Stocks at Deep-Value Prices 5 Expected Social Security Changes in 2018 6 Years Later, 6 Charts That Show How Far Apple, Inc. Has Come Since Steve Jobs' Passing 10 Best Stocks to Buy Today The $16,122 Social Security Bonus You Cannot Afford to Miss Bitcoin's Biggest Competitor Isn't Ethereum -- It's This Timothy Green has no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy . \|\| Why Shares of Inphi Corp. Slumped Today: Shares ofInphi Corp.(NYSE: IPHI)dropped on Wednesday following a mixed first-quarter report and a subsequent analyst downgrade. The company's revenue declined sharply and came in just short of analyst expectations. The stock was down about 9.5% at 2:45 p.m. EDT. Inphi reported first-quarter revenue of $60.1 million, down 35.7% year over year and about $1.1 million below the average analyst estimate. The company blamed lower demand for linear transimpedance amplifier and linear driver products for the decline in revenue. Non-GAAPearnings per share came in at a loss of $0.05, down from a profit of $0.44 in the prior-year period and in line with analyst expectations. Image source: Getty Images. Inphi President and CEO Ford Tamer believes that the worst may be over for the company, reiterating what he said in thefourth-quarter report in February: "We believe Q1 represented the bottom of a down cycle driven by inventory buildups in China long-haul and metro markets." At least one analyst cooled a bit on the stock following the first-quarter report. Needham knocked Inphi stock down to "buy" from a previous rating of "strong buy." Its new price target of $35 per share is just 11% above the closing price on Tuesday. Inphi expects to produce between $67.3 million and $71.3 million of revenue during the second quarter, along with non-GAAP earnings per share (EPS) between $0.12 and $0.14. While those ranges represent sequential improvements, both are down considerably from the second quarter of last year. At the midpoint, second-quarter revenue will decline by 17.9% year over year, while non-GAAP EPS will tumble 62.9%. While Inphi's second quarter will be stronger than its first quarter, a return to year-over-year growth may still be a few quarters away. More From The Motley Fool • 3 Growth Stocks at Deep-Value Prices • 5 Expected Social Security Changes in 2018 • 6 Years Later, 6 Charts That Show How Far Apple, Inc. Has Come Since Steve Jobs' Passing • 10 Best Stocks to Buy Today • The $16,122 Social Security Bonus You Cannot Afford to Miss • Bitcoin's Biggest Competitor Isn't Ethereum -- It's This Timothy Greenhas no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has adisclosure policy. [Social Media Buzz] #BTC Average: 8876.59$ #Bitfinex - 8854.90$ #Poloniex - 8851.98$ #Bitstamp - 8852.91$ #Coinbase - 8844.08$ #Binance - 8859.55$ #CEXio - 8923.00$ #Kraken - 8845.10$ #Cryptopia - 8860.31$ #Bittrex - 8845.95$ #GateCoin - 9028.10$ #Bitcoin #Exchanges #Price \|\| Alcanza tus metas y comparte tus ideas al mundo solo con #Wordpress a partir de $3.00 USD/Mes https://truxgohosting.com/wordpress.php #BBVA #Bitcoin #MasterCard #pc #DataCenter #Server #diseño \|\| Next Community Workgroup Meeting: 28 April 1...	8987.05, 9348.48, 9419.08, 9240.55, 9119.01, 9235.92, 9743.86, 9700.76, 9858.15, 9654.80
Given the historical Bitcoin prices from the last 90 days, predict the next 10 daily closing prices. The historical prices are: 10334.97, 10115.98, 10178.37, 10410.13, 10360.55, 10358.05, 10347.71, 10276.79, 10241.27, 10198.25, 10266.42, 10181.64, 10019.72, 10070.39, 9729.32, 8620.57, 8486.99, 8118.97, 8251.85, 8245.92, 8104.19, 8293.87, 8343.28, 8393.04, 8259.99, 8205.94, 8151.50, 7988.16, 8245.62, 8228.78, 8595.74, 8586.47, 8321.76, 8336.56, 8321.01, 8374.69, 8205.37, 8047.53, 8103.91, 7973.21, 7988.56, 8222.08, 8243.72, 8078.20, 7514.67, 7493.49, 8660.70, 9244.97, 9551.71, 9256.15, 9427.69, 9205.73, 9199.58, 9261.10, 9324.72, 9235.35, 9412.61, 9342.53, 9360.88, 9267.56, 8804.88, 8813.58, 9055.53, 8757.79, 8815.66, 8808.26, 8708.09, 8491.99, 8550.76, 8577.98, 8309.29, 8206.15, 8027.27, 7642.75, 7296.58, 7397.80, 7047.92, 7146.13, 7218.37, 7531.66, 7463.11, 7761.24, 7569.63, 7424.29, 7321.99, 7320.15, 7252.03, 7448.31, 7547.00, 7556.24.	[Bitcoin Technical Analysis for 2019-12-07] Volume: 15453520564, RSI (14-day): 44.02, 50-day EMA: 8126.61, 200-day EMA: 8502.08 [Wider Market Context] None available. [Recent News (last 7 days)] SEC Reveals Telegram’s Communications With Investors, Seeks to Question Advisor: The U.S. Securities and Exchange Commission (SEC) wants Telegram’s former chief investment advisor to testify and hand over documents related to the company’s $1.7 billion 2018 token sale. The SEC has asked the High Court of England and Wales to obtain the testimony and documents from John Hyman, a former investment banker with Morgan Stanley and Renaissance Capital who resides in the U.K. The trans-Atlantic request was revealed in atrove of documentsfiled by the SEC Friday with the U.S. District Court of the Southern District of New York. The agency is seeking to halt the launch of TON, Telegram’s ambitious blockchain project, and the issuance of TON’s tokens, named grams. The SEC considers grams unregistered securities – an allegation Telegram has repeatedlydenied. Related:Telegram Founder Durov Should Testify in SEC Case Over Gram Token: Judge According to the Friday filing, the SEC is seeking Hyman’s testimony as he has been closely involved in raising funds for TON and communicated with “over a dozen” investors. Telegram CEO Pavel Durov described Hyman in January 2018 as the chief investment advisor at Telegram and the person who “runs the distribution of Grams,” the SEC says. Hyman “communicated with Grams purchasers, confirmed transaction details, and provided ongoing updates to investors about investments.” The filing, relying on the company’s email exchanges with U.S. investors, reveals some fundraising tactics used during Telegram’s unprecedented$1.7 billiontoken pre-sale. For example, in one email, Hyman said that Telegram “decided for regulatory reasons that we will never do any form of direct public offering, … the public will be able to buy grams once network is working … not from Telegram directly.” Related:Telegram Refutes All SEC Allegations, Asks Court to Dismiss in New Filing Writing to Google Ventures’ Blake Byers in May 2018, Hyman said there would be a third private round, in addition to the two completed in February and March – the plans that apparently got shelved at some point. The advisor has been also keeping an eye on the grey secondary market for grams that emerged immediately after the first round of sales in February 2018, the filing says. Although TON investors were strictly forbidden to resell their allocations under the threat of losing their future grams, the secondary market, in fact, flourished, with multiple offerings from small exchanges, brokers and individual OTC dealers, as CoinDesk previouslyreported. According to the communications between Hyman and one of the investors’ representatives, Telegram’s advisor would regularly ask for updates on the secondary market of grams. “Hi Stan have you seen any grey market gram activity if so at what prices,” one of Hyman’s emails read. The filing contains, among other attachments, an email exchange between Telegram CEO Pavel Durov and some of the prospective TON investors in the beginning of 2018. For example, in January 2018, Durov scheduled a meeting between himself, Hyman and the investment firm Kleiner Perkins’ partner Mamoon Hamid in London. The communication between Durov and Hamid started in October 2017, when Hamid was introduced to Durov by a person named Jared Leto – it’s unclear if the popular singer and actor himself was involved. However, the person used the email hosted on the celebrity’s official website Jaredleto.com. A request for comment from Leto’s agent was not immediately returned. Durov asked Hamid about his interest in investing in blockchain tech and said that he had to cancel his U.S. trip as the gram presale “reached 2x oversubscription too soon.” Hamid, in turn, told Durov that blockchain was “an active area of interest for me and K[leiner]P[erkins]. At my previous firm, Social Capital, we invested 2% into BTC in 2013 and we were one of the biggest investors in the DCG (Digital Currency Group) since 2011,” Hamid wrote. Apart from Kleiner Perkins, Durov introduced Hyman as Telegram’s chief investment advisor to other potential investors, including the founder of Insight Venture Partners Jerry Murdock, Dave Munichiello of Google Ventures, Pete Briger from Fortress Investment Group, Yosuke Sasaki and Rajeev Misra of Softbank. The SEC asked the U.S. court to issue a Letter of Request to the Senior Master of the High Court (Queen’s Bench Division) of England and Wales, requesting the deposition of Hyman, a UK citizen who is currently residing there, the filing says. The procedure is possible thanks to the Hague Convention, which allows courts to seek evidence and testimonies beyond their own jurisdictions, the filing says. Hyman won’t meet the SEC voluntarily, the filing says, this is why the court should be seeking the help of the overseas judicial system. Initially, SEC attorney Jorge Tenreiro reported contacting Hyman’s counsel, Greg Campbell, in London and got a response that Hyman agreed to appear voluntarily for a deposition. However, after that “Mr. Campbell has refused to return multiple phone calls and emails regarding Mr. Hyman’s deposition,” so the SEC decided to get the British court involved. The last emails sent between Tenreiro and Campbell attached to the filing are dated Nov. 27. In addition to Hyman’s testimony, the SEC is also seeking to obtain his written communications with Telegram’s leadership and investors, documents about his employment at Telegram and his own investment in grams. According to the SEC information, Hyman left his job at Telegram and is now working at Gram Vault, the custodian for grams that earlierclaimedto be working with TON’s largest investors. Gram Vault has alsonegotiatedthe listing of grams at the crypto exchange Poloniex, explaining that Telegram itself can not do so. Working at Gram Vault, Hyman also helped to establish a connection with the crypto custodian Anchorage, which was expected to be Telegram’s partner serving U.S. customers, according to his email exchange with the company. Anchorage wasn’t immediately available for comment. The filing also expands on the SEC’s reasoning about why it believes grams are unregistered securities, despite Telegram’s arguments to the contrary and the fact that itreportedthe offering as exempt under Regulation D. According to the SEC, Telegram claimed that the Grams Purchase Agreements (SAFT contracts) were exempt from registration requirements but did not claim the same for the gram tokens themselves. Plus, “in any event, the exemption from registration under Regulation D is not available to Telegram,” the filing says. Insisting that grams were securities by design, the SEC writes that Telegram allowed the investors to buy grams with a goal to later resell them with profit on a broad secondary market and did not take steps against that. “Telegram’s marketing materials reasonably led purchasers of Grams to view them as an investment into a common enterprise from which they could hope to profit based on Telegram’s efforts to develop a business,” the SEC said. As a result, the investors “acquired substantial quantities of Grams that would far exceed any purported use of the Grams in whatever ecosystem Telegram promised in the future.” Previously, the courtordered the depositionsof Telegram’s CEO Pavel Durov, vice president Ilya Perekopsky and investor relations officer Shyam Parekh. Telegram had topostponethe launch of its TON blockchain this October due to the lawsuit from the SEC. The company is expected to meet the SEC in court on February 18-19, 2020. • Telegram Releases Test Crypto Wallet Despite SEC Lawsuit • Telegram Token Investors Reject Refund Offer \|\| SEC Reveals Telegram’s Communications With Investors, Seeks to Question Advisor: The U.S. Securities and Exchange Commission (SEC) wants Telegram’s former chief investment advisor to testify and hand over documents related to the company’s $1.7 billion 2018 token sale. The SEC has asked the High Court of England and Wales to obtain the testimony and documents from John Hyman, a former investment banker with Morgan Stanley and Renaissance Capital who resides in the U.K. The trans-Atlantic request was revealed in a trove of documents filed by the SEC Friday with the U.S. District Court of the Southern District of New York. The agency is seeking to halt the launch of TON, Telegram’s ambitious blockchain project, and the issuance of TON’s tokens, named grams. The SEC considers grams unregistered securities – an allegation Telegram has repeatedly denied . Related: Telegram Founder Durov Should Testify in SEC Case Over Gram Token: Judge According to the Friday filing, the SEC is seeking Hyman’s testimony as he has been closely involved in raising funds for TON and communicated with “over a dozen” investors. Telegram CEO Pavel Durov described Hyman in January 2018 as the chief investment advisor at Telegram and the person who “runs the distribution of Grams,” the SEC says. Hyman “communicated with Grams purchasers, confirmed transaction details, and provided ongoing updates to investors about investments.” Eye on the grey market The filing, relying on the company’s email exchanges with U.S. investors, reveals some fundraising tactics used during Telegram’s unprecedented $1.7 billion token pre-sale. For example, in one email, Hyman said that Telegram “decided for regulatory reasons that we will never do any form of direct public offering, … the public will be able to buy grams once network is working … not from Telegram directly.” Related: Telegram Refutes All SEC Allegations, Asks Court to Dismiss in New Filing Writing to Google Ventures’ Blake Byers in May 2018, Hyman said there would be a third private round, in addition to the two completed in February and March – the plans that apparently got shelved at some point. Story continues The advisor has been also keeping an eye on the grey secondary market for grams that emerged immediately after the first round of sales in February 2018, the filing says. Although TON investors were strictly forbidden to resell their allocations under the threat of losing their future grams, the secondary market, in fact, flourished, with multiple offerings from small exchanges, brokers and individual OTC dealers, as CoinDesk previously reported . According to the communications between Hyman and one of the investors’ representatives, Telegram’s advisor would regularly ask for updates on the secondary market of grams. “Hi Stan have you seen any grey market gram activity if so at what prices,” one of Hyman’s emails read. Durov’s mail The filing contains, among other attachments, an email exchange between Telegram CEO Pavel Durov and some of the prospective TON investors in the beginning of 2018. For example, in January 2018, Durov scheduled a meeting between himself, Hyman and the investment firm Kleiner Perkins’ partner Mamoon Hamid in London. The communication between Durov and Hamid started in October 2017, when Hamid was introduced to Durov by a person named Jared Leto – it’s unclear if the popular singer and actor himself was involved. However, the person used the email hosted on the celebrity’s official website Jaredleto.com. A request for comment from Leto’s agent was not immediately returned. Durov asked Hamid about his interest in investing in blockchain tech and said that he had to cancel his U.S. trip as the gram presale “reached 2x oversubscription too soon.” Hamid, in turn, told Durov that blockchain was “an active area of interest for me and K[leiner]P[erkins]. At my previous firm, Social Capital, we invested 2% into BTC in 2013 and we were one of the biggest investors in the DCG (Digital Currency Group) since 2011,” Hamid wrote. Apart from Kleiner Perkins, Durov introduced Hyman as Telegram’s chief investment advisor to other potential investors, including the founder of Insight Venture Partners Jerry Murdock, Dave Munichiello of Google Ventures, Pete Briger from Fortress Investment Group, Yosuke Sasaki and Rajeev Misra of Softbank. Reluctant witness The SEC asked the U.S. court to issue a Letter of Request to the Senior Master of the High Court (Queen’s Bench Division) of England and Wales, requesting the deposition of Hyman, a UK citizen who is currently residing there, the filing says. The procedure is possible thanks to the Hague Convention, which allows courts to seek evidence and testimonies beyond their own jurisdictions, the filing says. Hyman won’t meet the SEC voluntarily, the filing says, this is why the court should be seeking the help of the overseas judicial system. Initially, SEC attorney Jorge Tenreiro reported contacting Hyman’s counsel, Greg Campbell, in London and got a response that Hyman agreed to appear voluntarily for a deposition. However, after that “Mr. Campbell has refused to return multiple phone calls and emails regarding Mr. Hyman’s deposition,” so the SEC decided to get the British court involved. The last emails sent between Tenreiro and Campbell attached to the filing are dated Nov. 27. In addition to Hyman’s testimony, the SEC is also seeking to obtain his written communications with Telegram’s leadership and investors, documents about his employment at Telegram and his own investment in grams. According to the SEC information, Hyman left his job at Telegram and is now working at Gram Vault, the custodian for grams that earlier claimed to be working with TON’s largest investors. Gram Vault has also negotiated the listing of grams at the crypto exchange Poloniex, explaining that Telegram itself can not do so. Working at Gram Vault, Hyman also helped to establish a connection with the crypto custodian Anchorage, which was expected to be Telegram’s partner serving U.S. customers, according to his email exchange with the company. Anchorage wasn’t immediately available for comment. Exemption unavailable The filing also expands on the SEC’s reasoning about why it believes grams are unregistered securities, despite Telegram’s arguments to the contrary and the fact that it reported the offering as exempt under Regulation D. According to the SEC, Telegram claimed that the Grams Purchase Agreements (SAFT contracts) were exempt from registration requirements but did not claim the same for the gram tokens themselves. Plus, “in any event, the exemption from registration under Regulation D is not available to Telegram,” the filing says. Insisting that grams were securities by design, the SEC writes that Telegram allowed the investors to buy grams with a goal to later resell them with profit on a broad secondary market and did not take steps against that. “Telegram’s marketing materials reasonably led purchasers of Grams to view them as an investment into a common enterprise from which they could hope to profit based on Telegram’s efforts to develop a business,” the SEC said. As a result, the investors “acquired substantial quantities of Grams that would far exceed any purported use of the Grams in whatever ecosystem Telegram promised in the future.” Previously, the court ordered the depositions of Telegram’s CEO Pavel Durov, vice president Ilya Perekopsky and investor relations officer Shyam Parekh. Telegram had to postpone the launch of its TON blockchain this October due to the lawsuit from the SEC. The company is expected to meet the SEC in court on February 18-19, 2020. Related Stories Telegram Releases Test Crypto Wallet Despite SEC Lawsuit Telegram Token Investors Reject Refund Offer \|\| European Equities: A Week in Review – 07/12/19: The Majors It was a bearish week for the European majors in the week ending 6 th December, with the CAC40 falling by 0.56% to lead the way down. Things were not much better for the DAX30, which fell by 0.53%, while the EuroStoxx600 slipped by just 0.02%. The losses came in spite of a bullish end to the week that saw the CAC40 and EuroStoxx600 rally by 1.21% and by 1.16% respectively. Disappointing industrial production figures out of Germany left the DAX30 with a more modest 0.86% gain on the day. Market sentiment towards the prospects of a U.S – China phase 1 agreement provided support on Friday, after having sunk the markets at the start of the week. On the economic data front, a jump in U.S nonfarm payrolls and wage growth ultimately delivered the Friday bounce, however. The Stats It was a busy week on the Eurozone economic calendar . In the 1 st half of the week, the focus was on November private sector PMI figures out of China, the Eurozone, and the U.S. While the PMI numbers out of China had provided support, the Eurozone and U.S PMI figures were far from impressive. The stats coincided with negative chatter on trade in the 1 st half, with the U.S administration threatening tariffs on all French goods. On the prospects of a U.S – China phase 1 agreement, Trump had also doused expectations of a pre-Christmas deal. In the 2 nd half of the week, things didn’t get much better on the data front, with German and Eurozone retail sales disappointing. While the markets have been able to stomach weak manufacturing sector figures, weak consumer spending is a different proposition… That sentiment was reflected by a slide in factory orders and industrial production figures out of Germany that had a relatively muted impact on the majors. On Friday, U.S nonfarm payroll and wage growth figures, however, did have a material impact. Impressive figures fuelled a rebound in both the European and U.S majors. Nonfarm payrolls jumped by 266k, with wages rising by 3.1% in November. Both came in ahead of expectations and points to strong consumer demand in the months ahead… Story continues The Market Movers From the DAX , it was a mixed week for the auto sector. Continental and Daimler fell by 0.88% and by 3.36% respectively. BMW and Volkswagen found support, however, with the pair up by 0.70% and 0.57% respectively. It was a bearish week for the banking sector, however. Deutsche Bank fell by 0.91%, with Commerzbank down by 1.14%. From the CAC , it was a mixed week for the banks. Credit Agricole and Soc Gen rose by 1.25% and by 2.80% respectively. BNP Paribas bucked the trend, falling by 0.06%, the loss coming in spite of a 1.35% gain on Friday. French auto sector took another hit in the week, with Peugeot and Renault falling by 1.87% and by 3.76% respectively. The U.S. threat of tariffs on all French goods certainly didn’t help. On the VIX Index The VIX Index rose by 7.92% in the week ending 6 th December. Following a 2.27% gain from the previous week, the VIX ended the week at 13.6. A choppy week for the markets saw the VIX jump by 18.15% on Monday. The jump came in response to negative chatter on trade. This was followed up by a 7% gain on Tuesday that ultimately delivered the upside in the week. In the 2 nd half of the week, a shift in sentiment towards trade and the particularly impressive labor market figures out of the U.S limited the upside in the VIX. The Week Ahead It’s a relatively busy week on the Eurozone economic calendar . Through the 1 st half of the week, German trade data and business sentiment figures for Germany and the Eurozone are due out Barring dire trade figures, expect the sentiment figures to have the greatest influence on Tuesday. Following disappointing industrial production figures out of Germany last week, a fall in Eurozone industrial production wouldn’t be a surprise… Industrial production figures are due out on Thursday. On Thursday, the focus will be on the ECB and ECB President Lagarde, however. Economic indicators going into the 4 th quarter have not been great, which raises the question of what’s next from the ECB… Finalized inflation numbers from France, Germany, and Spain due out in the week will unlikely influence. From elsewhere, expect economic data from the U.S and, more importantly, the FOMC economic projections from Wednesday to also influence. On the geopolitical front, updates from China and the U.S in the early part of the week will influence. In the 2 nd half of the week, expect the European majors to respond to the UK general election. Results will start trickling in overnight on Thursday… A Tory Party loss would extend Britain’s membership with the EU. This would also raise plenty of uncertainty over what lies ahead for the UK economy, however. This article was originally posted on FX Empire More From FXEMPIRE: AUD/USD Weekly Price Forecast – Australian Dollar Forms Massive Bullish Candle Bitcoin Cash – ABC, Litecoin and Ripple Daily Analysis – 07/12/19 Natural Gas Price Prediction – Prices Fall as Bear Flag Accelerates EUR/USD Weekly Price Forecast – Euro Shows Signs Of Exhaustion The Crypto Daily – Movers and Shakers -07/12/19 Natural Gas Weekly Price Forecast – Natural Gas Markets Give Up Gains For The Week \|\| European Equities: A Week in Review – 07/12/19: The Majors It was a bearish week for the European majors in the week ending 6 th December, with the CAC40 falling by 0.56% to lead the way down. Things were not much better for the DAX30, which fell by 0.53%, while the EuroStoxx600 slipped by just 0.02%. The losses came in spite of a bullish end to the week that saw the CAC40 and EuroStoxx600 rally by 1.21% and by 1.16% respectively. Disappointing industrial production figures out of Germany left the DAX30 with a more modest 0.86% gain on the day. Market sentiment towards the prospects of a U.S – China phase 1 agreement provided support on Friday, after having sunk the markets at the start of the week. On the economic data front, a jump in U.S nonfarm payrolls and wage growth ultimately delivered the Friday bounce, however. The Stats It was a busy week on the Eurozone economic calendar . In the 1 st half of the week, the focus was on November private sector PMI figures out of China, the Eurozone, and the U.S. While the PMI numbers out of China had provided support, the Eurozone and U.S PMI figures were far from impressive. The stats coincided with negative chatter on trade in the 1 st half, with the U.S administration threatening tariffs on all French goods. On the prospects of a U.S – China phase 1 agreement, Trump had also doused expectations of a pre-Christmas deal. In the 2 nd half of the week, things didn’t get much better on the data front, with German and Eurozone retail sales disappointing. While the markets have been able to stomach weak manufacturing sector figures, weak consumer spending is a different proposition… That sentiment was reflected by a slide in factory orders and industrial production figures out of Germany that had a relatively muted impact on the majors. On Friday, U.S nonfarm payroll and wage growth figures, however, did have a material impact. Impressive figures fuelled a rebound in both the European and U.S majors. Nonfarm payrolls jumped by 266k, with wages rising by 3.1% in November. Both came in ahead of expectations and points to strong consumer demand in the months ahead… Story continues The Market Movers From the DAX , it was a mixed week for the auto sector. Continental and Daimler fell by 0.88% and by 3.36% respectively. BMW and Volkswagen found support, however, with the pair up by 0.70% and 0.57% respectively. It was a bearish week for the banking sector, however. Deutsche Bank fell by 0.91%, with Commerzbank down by 1.14%. From the CAC , it was a mixed week for the banks. Credit Agricole and Soc Gen rose by 1.25% and by 2.80% respectively. BNP Paribas bucked the trend, falling by 0.06%, the loss coming in spite of a 1.35% gain on Friday. French auto sector took another hit in the week, with Peugeot and Renault falling by 1.87% and by 3.76% respectively. The U.S. threat of tariffs on all French goods certainly didn’t help. On the VIX Index The VIX Index rose by 7.92% in the week ending 6 th December. Following a 2.27% gain from the previous week, the VIX ended the week at 13.6. A choppy week for the markets saw the VIX jump by 18.15% on Monday. The jump came in response to negative chatter on trade. This was followed up by a 7% gain on Tuesday that ultimately delivered the upside in the week. In the 2 nd half of the week, a shift in sentiment towards trade and the particularly impressive labor market figures out of the U.S limited the upside in the VIX. The Week Ahead It’s a relatively busy week on the Eurozone economic calendar . Through the 1 st half of the week, German trade data and business sentiment figures for Germany and the Eurozone are due out Barring dire trade figures, expect the sentiment figures to have the greatest influence on Tuesday. Following disappointing industrial production figures out of Germany last week, a fall in Eurozone industrial production wouldn’t be a surprise… Industrial production figures are due out on Thursday. On Thursday, the focus will be on the ECB and ECB President Lagarde, however. Economic indicators going into the 4 th quarter have not been great, which raises the question of what’s next from the ECB… Finalized inflation numbers from France, Germany, and Spain due out in the week will unlikely influence. From elsewhere, expect economic data from the U.S and, more importantly, the FOMC economic projections from Wednesday to also influence. On the geopolitical front, updates from China and the U.S in the early part of the week will influence. In the 2 nd half of the week, expect the European majors to respond to the UK general election. Results will start trickling in overnight on Thursday… A Tory Party loss would extend Britain’s membership with the EU. This would also raise plenty of uncertainty over what lies ahead for the UK economy, however. This article was originally posted on FX Empire More From FXEMPIRE: AUD/USD Weekly Price Forecast – Australian Dollar Forms Massive Bullish Candle Bitcoin Cash – ABC, Litecoin and Ripple Daily Analysis – 07/12/19 Natural Gas Price Prediction – Prices Fall as Bear Flag Accelerates EUR/USD Weekly Price Forecast – Euro Shows Signs Of Exhaustion The Crypto Daily – Movers and Shakers -07/12/19 Natural Gas Weekly Price Forecast – Natural Gas Markets Give Up Gains For The Week \|\| Russian Ministry of Internal Affairs confirms it will seize crypto: The Russian Ministry of Internal Affairs (MIA) has confirmed it is pushing ahead with new legal frameworks to allow the seizure of cryptocurrency assets. Following rumours in November that Russian authorities were drafting plans to allow law enforcement agencies to confiscate digital assets, several government ministries have now formalised their strategy to seize crypto. According to local news outlet TASS, Russian authorities have now confirmed that digital assets may no longer be safe from seizure by authorities, citing cryptos growing role in Russian cybercrime cases. The MIA has indicated that it will work together with other authorities to enforce digital asset seizure orders from the Russian Supreme Court, which will be actively handed out by the end of 2021. Its unclear whether the new proposals will only apply to cryptocurrencies and digital assets which have been gained through criminal or fraudulent activity, or if the new laws will also provide a back door for officials to seize any crypto assets they see fit. The news comes amid growing confusion around Russias stance on crypto assets. Since cryptos rise in popularity, the country has been largely non-committal, and has consistently failed to provide a clear legal framework for digital assets. Crypto skepticism Russian authorities have consistently shown skepticism towards cryptocurrencies. Last August, Coin Rivet reported that Russian ministers were looking to completely outlaw ICOs and cryptocurrencies in an effort to keep cash as king. Several Russian banks have voiced their concern about the proliferation of crypto assets, with VTB Bank chief Andrey Kostin calling Bitcoin fake money with no future. Similarly, cryptocurrency mining in Russia exists in particularly shaky legal territory , with the Russian government threatening several times to ban mining operations completely and miners facing fines if they exceed energy consumption limits. There is currently no indication as to where confiscated crypto assets would be stored, nor whether they would eventually be auctioned off or sold with the proceeds reverting to the Russian government. The post Russian Ministry of Internal Affairs confirms it will seize crypto appeared first on Coin Rivet . \|\| Russian Ministry of Internal Affairs confirms it will seize crypto: The Russian Ministry of Internal Affairs (MIA) has confirmed it is pushing ahead with new legal frameworks to allow the seizure of cryptocurrency assets. Following rumours in November that Russian authorities were drafting plans to allow law enforcement agencies to confiscate digital assets, several government ministries have now formalised their strategy to seize crypto. According to local news outlet TASS, Russian authorities have now confirmed that digital assets may no longer be safe from seizure by authorities, citing cryptos growing role in Russian cybercrime cases. The MIA has indicated that it will work together with other authorities to enforce digital asset seizure orders from the Russian Supreme Court, which will be actively handed out by the end of 2021. Its unclear whether the new proposals will only apply to cryptocurrencies and digital assets which have been gained through criminal or fraudulent activity, or if the new laws will also provide a back door for officials to seize any crypto assets they see fit. The news comes amid growing confusion around Russias stance on crypto assets. Since cryptos rise in popularity, the country has been largely non-committal, and has consistently failed to provide a clear legal framework for digital assets. Crypto skepticism Russian authorities have consistently shown skepticism towards cryptocurrencies. Last August, Coin Rivet reported that Russian ministers were looking to completely outlaw ICOs and cryptocurrencies in an effort to keep cash as king. Several Russian banks have voiced their concern about the proliferation of crypto assets, with VTB Bank chief Andrey Kostin calling Bitcoin fake money with no future. Similarly, cryptocurrency mining in Russia exists in particularly shaky legal territory , with the Russian government threatening several times to ban mining operations completely and miners facing fines if they exceed energy consumption limits. There is currently no indication as to where confiscated crypto assets would be stored, nor whether they would eventually be auctioned off or sold with the proceeds reverting to the Russian government. The post Russian Ministry of Internal Affairs confirms it will seize crypto appeared first on Coin Rivet . \|\| Analysts: Amazon Is More Than The Truck That Brings Gifts: Around the holidaysAmazon.com Inc. (NASDAQ:AMZN) is probably best known for being one of Santa's biggest helpers, delivering presents to homes at a furious pace. But as the company rolls out several new Amazon Web Services products and new innovations in machine learning, and its Amazon Business B2B unit grows faster than retail and AWS, some analysts are keeping an eye on the lesser-noticed parts of the online retailing giant as a key part of the company's financial future. The Analysts Morgan Stanley'sBrian Nowakkept an Overweight rating on the stock with a $2,100 price target. Barclays analystRoss Sandlerkept an Overweight rating with a $2,000 target price. RBC Capital Markets analystMark Mahaneymaintained an Outperform rating on Amazon. Amazon Business = $30 Billion? Amazon Business could top $30 billion in revenue in a few years, Mahaney said, adding that Amazon Business has mostly been ignored by investors. He points out that the company's B2B unit, is growing faster than retail and AWS, and could see sales grow five fold by 2023. Mahaney also points out that the Business market is ultimately much larger than the retail market. AWS And Machine Learning Meanwhile, Amazon is launching new products in another "background" business, the Amazon Web Services unit, as it continues to add new offerings to its portfolio. Nowak was out with a note praising AWS' edge computing offerings and machine learning innovations. Nowak pointed to Amazon's rolling out of six new products that rely on improved machine learning, including CodeGuru, which analyzes lines of code to find inefficiencies, and Amazon Fraud Detector, which uses AI to do just that. "Amazon is striving to democratize machine learning, which we believe will increasingly lead to higher cloud adoption/use," Nowak wrote in a note. And its innovations are what will drive the stock, he said. "We see Amazon continuing to compete based on new cloud features/offerings rather than price," Nowak wrote. Amazon India Sandler took a look at Amazon India. Sandler notes AWS is growing "very rapidly" there too, though it's off a low base, pointing out that the company's Amazon Pay business is in the same situation on the subcontinent. The Amazon story in India continues to rely heavily on the retail business-to-consumer growth, however, and that's propping it up as wholesale business there slows, Sandler wrote. Price Action Amazon's stock traded around $1,750 per share at time of publication. Related Links: Amazon Launches 'Portable' Smart Speaker Designed Specially For India Today's Pickup: Amazon Reportedly Tests Inventory Staging For Merchants Latest Ratings for AMZN [{"Dec 2019": "Nov 2019", "": "", "Assumes": "Initiates Coverage On", "Buy": "Hold"}, {"Dec 2019": "Oct 2019", "": "", "Assumes": "Maintains", "Buy": "Market Outperform"}] View More Analyst Ratings for AMZNView the Latest Analyst Ratings 0 See more from Benzinga • What Do Amazon, Victoria's Secret And Bitcoin Have In Common? Giving Tuesday • Black Friday 2019 Winners And Losers: Amazon, Macy's, Shopify And More • Buy Baby Yoda Toys For Christmas You Cannot © 2019 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. \|\| State Street: 38% of Clients Will Put More Money into Digital Assets in 2020: The majority of asset managers that bank with State Street are interested in digital assets such as bitcoin, but none have asked the global custodian to store them yet. “We’re talking to them less about ‘Can you custody this,’ and more about how we can work together to make sure these changes aren’t disruptive to our business models,” said Jay Biancamano, State Street’s managing director of digital product development and innovation. The firm will have a better idea of what it will do with digital asset custody in 2020, he said at an event sponsored by the bank Thursday in New York. After custody, State Street is interested in looking at fund administration, private placements, issuance and trading of digital assets, he said. Related:Tokenized Real Estate Falters as Another Hyped Deal Falls Apart Despite their lack of interest in a custody solution, the Boston-based bank’s clients are continuing to invest more in the new asset class. According to a survey to be released next week, 94 percent of State Street clients hold digital assets or related products (e.g. bitcoin futures) and 38 percent of them said they will increase their allocation of digital assets in 2020. Forty-five percent said their allocation would stay the same, according to the survey, conducted for the bank this year by quantitative analysis firm Oxford Economics. State Street is embracing digital assets as it retrenches from an effort to retrofit its plumbing using distributed ledger technology (DLT), a sign that Wall Street is moving away from the mid-decade mantra of “blockchain not bitcoin.” Earlier this year, the bank laidoffmore than 100 blockchain developers. This team’s responsibilities were separate from that of Biancamano’s team, however, which focuses on working with clients and third parties around digital asset and tokenization proofs of concept. Related:Franklin Templeton Taps Wallet Service Provider to Support Tokenized Shares “Being able to provide custody and servicing around digital assets is different than building our entire backend infrastructure and prioritizing our technology stack to support Hyperledger blockchain,” Biancamano said. “They were parallel paths. … We can continue to pursue digital assets and go into that business should we need to without having to have a number of DLT engineers. We still have the expertise on staff, but we put less emphasis on the infrastructure piece and more emphasis on the digital asset piece.” The survey, based on a sample of 101 primarily US-based asset managers and owners, also showed that 62 percent of clients said tokenization will improve risk management and 55 percent said it will enhance security, though only 36 percent said it would democratize investing for retail investors or increase liquidity. The firm’s clients may also be more bullish on DLT than State Street is. More than half of the respondents (62 percent) said that the technology will be integrated into their trading process in 2020; only half said the same for artificial intelligence. Sixty-five percent said that DLT will improve financing products. Forty-five percent of survey respondents also said they believe that a bitcoin exchange-traded fund (ETF) will receive U.S. regulatory approval in 2020. However, similar vehicles are already available for big-money investors, Biancamano noted. “Honestly, institutions already have the ability to invest in these funds,” he said. “VanEck is doing a private placement. WisdomTree announced the ability to invest on the Swiss exchange. I would like to see regulators become more comfortable with a bitcoin ETF… but I think the ability to invest in bitcoin in a fund or directly is there.” • Bakkt in Discussions to Offer Cash-Settled Bitcoin Futures in Singapore • US Federal Reserve Hiring Retail Payments Manager to Research Digital Currencies \|\| State Street: 38% of Clients Will Put More Money into Digital Assets in 2020: The majority of asset managers that bank with State Street are interested in digital assets such as bitcoin, but none have asked the global custodian to store them yet. “We’re talking to them less about ‘Can you custody this,’ and more about how we can work together to make sure these changes aren’t disruptive to our business models,” said Jay Biancamano, State Street’s managing director of digital product development and innovation. The firm will have a better idea of what it will do with digital asset custody in 2020, he said at an event sponsored by the bank Thursday in New York. After custody, State Street is interested in looking at fund administration, private placements, issuance and trading of digital assets, he said. Related: Tokenized Real Estate Falters as Another Hyped Deal Falls Apart Despite their lack of interest in a custody solution, the Boston-based bank’s clients are continuing to invest more in the new asset class. According to a survey to be released next week, 94 percent of State Street clients hold digital assets or related products (e.g. bitcoin futures) and 38 percent of them said they will increase their allocation of digital assets in 2020. Forty-five percent said their allocation would stay the same, according to the survey, conducted for the bank this year by quantitative analysis firm Oxford Economics. State Street is embracing digital assets as it retrenches from an effort to retrofit its plumbing using distributed ledger technology (DLT), a sign that Wall Street is moving away from the mid-decade mantra of “blockchain not bitcoin.” Earlier this year, the bank laid off more than 100 blockchain developers. This team’s responsibilities were separate from that of Biancamano’s team, however, which focuses on working with clients and third parties around digital asset and tokenization proofs of concept. Related: Franklin Templeton Taps Wallet Service Provider to Support Tokenized Shares “Being able to provide custody and servicing around digital assets is different than building our entire backend infrastructure and prioritizing our technology stack to support Hyperledger blockchain,” Biancamano said. “They were parallel paths. … We can continue to pursue digital assets and go into that business should we need to without having to have a number of DLT engineers. We still have the expertise on staff, but we put less emphasis on the infrastructure piece and more emphasis on the digital asset piece.” Story continues The survey, based on a sample of 101 primarily US-based asset managers and owners, also showed that 62 percent of clients said tokenization will improve risk management and 55 percent said it will enhance security, though only 36 percent said it would democratize investing for retail investors or increase liquidity. The firm’s clients may also be more bullish on DLT than State Street is. More than half of the respondents (62 percent) said that the technology will be integrated into their trading process in 2020; only half said the same for artificial intelligence. Sixty-five percent said that DLT will improve financing products. Forty-five percent of survey respondents also said they believe that a bitcoin exchange-traded fund (ETF) will receive U.S. regulatory approval in 2020. However, similar vehicles are already available for big-money investors, Biancamano noted. “Honestly, institutions already have the ability to invest in these funds,” he said. “VanEck is doing a private placement. WisdomTree announced the ability to invest on the Swiss exchange. I would like to see regulators become more comfortable with a bitcoin ETF… but I think the ability to invest in bitcoin in a fund or directly is there.” Related Stories Bakkt in Discussions to Offer Cash-Settled Bitcoin Futures in Singapore US Federal Reserve Hiring Retail Payments Manager to Research Digital Currencies \|\| Bitcoin set for positive Christmas according to latest price prediction: Bitcoin hit a record high price of close to $20,000 in late 2017: Getty Images The price of bitcoin is set to receive a seasonal boost over the coming weeks, according to new analysis of the cryptocurrency . Research from digital currency exchange SFOX revealed that bitcoin has experienced positive market movements in the build-up to major US holidays in recent years. In the run up to Thanksgiving last week, bitcoin climbed by 20 per cent over four days to buck a downward trend that had seen its price fall to its lowest level in six months. On Labor Day in September, the price of bitcoin rose by around 5 per cent in a single day, followed by a further 4 per cent the next day. Similarly, the Fourth of July holiday earlier this year resulted in significant gains for the cryptocurrency, with an increase of 14 per cent between 2 July and 4 July. "We posited that holidays could theoretically contribute to upswings in bitcoin's price because of families getting together, experiencing FOMO [fear of missing out], and subsequently researching and purchasing bitcoin. However, the most recent data weve analysed here show Google searches for bitcoin peaking before holidays, not after," stated an SFOX blog post detailing the research. "Regardless of which forces are really driving bitcoin's holiday behaviour, it seems as though bitcoin remains sensitive to major US holidays for the time being, so market participants may wish to keep an eye on upcoming holidays as we enter the month of December." The research also uncovered a correlation between bitcoin's price and Google searches relating to the cryptocurrency - a phenomenon that has been noted in previous studies of the market. A study in 2017 found that high search volumes for bitcoin-related terms like 'btc usd' often preceded price bubbles, while low engagement usually signalled a good time to buy. Data gathered by digital marketing firm SemRush noted an 80 per cent correlation between search volume and bitcoin's price , though no conclusions were drawn as to which was the determining factor. Story continues Some analysts previously suggested that traders may be manipulating Google searches in order to artificially inflate the price of bitcoin. Read more Why bitcoin's bumpy revolution is only just beginning \|\| Bitcoin set for positive Christmas according to latest price prediction: Bitcoin hit a record high price of close to $20,000 in late 2017: Getty Images The price of bitcoin is set to receive a seasonal boost over the coming weeks, according to new analysis of the cryptocurrency . Research from digital currency exchange SFOX revealed that bitcoin has experienced positive market movements in the build-up to major US holidays in recent years. In the run up to Thanksgiving last week, bitcoin climbed by 20 per cent over four days to buck a downward trend that had seen its price fall to its lowest level in six months. On Labor Day in September, the price of bitcoin rose by around 5 per cent in a single day, followed by a further 4 per cent the next day. Similarly, the Fourth of July holiday earlier this year resulted in significant gains for the cryptocurrency, with an increase of 14 per cent between 2 July and 4 July. "We posited that holidays could theoretically contribute to upswings in bitcoin's price because of families getting together, experiencing FOMO [fear of missing out], and subsequently researching and purchasing bitcoin. However, the most recent data weve analysed here show Google searches for bitcoin peaking before holidays, not after," stated an SFOX blog post detailing the research. "Regardless of which forces are really driving bitcoin's holiday behaviour, it seems as though bitcoin remains sensitive to major US holidays for the time being, so market participants may wish to keep an eye on upcoming holidays as we enter the month of December." The research also uncovered a correlation between bitcoin's price and Google searches relating to the cryptocurrency - a phenomenon that has been noted in previous studies of the market. A study in 2017 found that high search volumes for bitcoin-related terms like 'btc usd' often preceded price bubbles, while low engagement usually signalled a good time to buy. Data gathered by digital marketing firm SemRush noted an 80 per cent correlation between search volume and bitcoin's price , though no conclusions were drawn as to which was the determining factor. Story continues Some analysts previously suggested that traders may be manipulating Google searches in order to artificially inflate the price of bitcoin. Read more Why bitcoin's bumpy revolution is only just beginning \|\| Bitcoin set for positive Christmas according to latest price prediction: Bitcoin hit a record high price of close to $20,000 in late 2017: Getty Images The price of bitcoin is set to receive a seasonal boost over the coming weeks, according to new analysis of the cryptocurrency . Research from digital currency exchange SFOX revealed that bitcoin has experienced positive market movements in the build-up to major US holidays in recent years. In the run up to Thanksgiving last week, bitcoin climbed by 20 per cent over four days to buck a downward trend that had seen its price fall to its lowest level in six months. On Labor Day in September, the price of bitcoin rose by around 5 per cent in a single day, followed by a further 4 per cent the next day. Similarly, the Fourth of July holiday earlier this year resulted in significant gains for the cryptocurrency, with an increase of 14 per cent between 2 July and 4 July. "We posited that holidays could theoretically contribute to upswings in bitcoin's price because of families getting together, experiencing FOMO [fear of missing out], and subsequently researching and purchasing bitcoin. However, the most recent data weve analysed here show Google searches for bitcoin peaking before holidays, not after," stated an SFOX blog post detailing the research. "Regardless of which forces are really driving bitcoin's holiday behaviour, it seems as though bitcoin remains sensitive to major US holidays for the time being, so market participants may wish to keep an eye on upcoming holidays as we enter the month of December." The research also uncovered a correlation between bitcoin's price and Google searches relating to the cryptocurrency - a phenomenon that has been noted in previous studies of the market. A study in 2017 found that high search volumes for bitcoin-related terms like 'btc usd' often preceded price bubbles, while low engagement usually signalled a good time to buy. Data gathered by digital marketing firm SemRush noted an 80 per cent correlation between search volume and bitcoin's price , though no conclusions were drawn as to which was the determining factor. Story continues Some analysts previously suggested that traders may be manipulating Google searches in order to artificially inflate the price of bitcoin. Read more Why bitcoin's bumpy revolution is only just beginning \|\| Gold sees 1.35% slump following strong US jobs report: The price of gold has seen a dramatic fall today in light of a new report stating that the US jobs market continues to remain strong. Precious metals and cryptocurrencies are often used as a hedge against the traditional financial system. This means that when the economy is perceived to be strong, their value often drops. Gold is down from $1,480 per ounce to $1,462 per ounce today, with silver also experiencing a steep 2.4% decline. Meanwhile, Bitcoin has remained relatively stable around the $7,400 level, despite being 28% down since October. Positive sentiment in the political and economic world seems to have returned to the market in recent weeks. This was demonstrated by the Great British pound’s rally earlier this week, with the currency hitting a two-month high on hopes that a Conservative majority will be elected at next week’s election. Over the course of the year, the US stock market has rallied to all-time highs, whereas gold is 6.16% down since its $1,550 high on September 2. Bitcoin has also endured a volatile year. The world’s largest cryptocurrency rallied to $14,000 in June on the back of Facebook’s Libra announcement before crashing down around 50% following the disappointing launch of Bakkt’s Bitcoin futures product. From a bullish standpoint, Bitcoin and gold both need political instability in order to trigger worthwhile reversals, with analysis suggesting that Bitcoin could in fact dive back down to last December’s low of $3,150. For more news, guides, and cryptocurrency analysis, click here . The post Gold sees 1.35% slump following strong US jobs report appeared first on Coin Rivet . \|\| Gold sees 1.35% slump following strong US jobs report: The price of gold has seen a dramatic fall today in light of a new report stating that the US jobs market continues to remain strong. Precious metals and cryptocurrencies are often used as a hedge against the traditional financial system. This means that when the economy is perceived to be strong, their value often drops. Gold is down from $1,480 per ounce to $1,462 per ounce today, with silver also experiencing a steep 2.4% decline. Meanwhile, Bitcoin has remained relatively stable around the $7,400 level, despite being 28% down since October. Positive sentiment in the political and economic world seems to have returned to the market in recent weeks. This was demonstrated by the Great British pound’s rally earlier this week, with the currency hitting a two-month high on hopes that a Conservative majority will be elected at next week’s election. Over the course of the year, the US stock market has rallied to all-time highs, whereas gold is 6.16% down since its $1,550 high on September 2. Bitcoin has also endured a volatile year. The world’s largest cryptocurrency rallied to $14,000 in June on the back of Facebook’s Libra announcement before crashing down around 50% following the disappointing launch of Bakkt’s Bitcoin futures product. From a bullish standpoint, Bitcoin and gold both need political instability in order to trigger worthwhile reversals, with analysis suggesting that Bitcoin could in fact dive back down to last December’s low of $3,150. For more news, guides, and cryptocurrency analysis, click here . The post Gold sees 1.35% slump following strong US jobs report appeared first on Coin Rivet . \|\| Is Cryptocurrency In For Another Volatile December?: The final month of the year has historically been a heady time for cryptocurrency markets, and this year is looking like it will provide similar excitement with the emergence of bitcoin options trading on major U.S. exchanges. Decembers To Remember For context, December 2017 saw the introduction of bitcoin futures at both the CME and CBOE, as well as the crypto’s subsequent all-time-high of $20,000. Fast-forward 12 months to December 2018, and most major cryptos were back to early-2017 levels, erasing all the gains from the previous two years. This December could see another new catalyst for outsized price moves across cryptocurrency with the introduction of bitcoin options trading. While the CME doesn’t plan on introducing bitcoin options contracts until January 2020, ICE-backed cryptocurrency exchange Bakkt is rolling out the first regulated options contracts for bitcoin futures Monday, December 9. Access up to 100x leverage on cryptocurrency pairs on CryptoRocket The initial launch on Bakkt and the upcoming rollout to the CME marks another notable step forward in the broader acceptance of digital asset trading, and it has already generated a fair amount of attention from traders. The amount of open interest in bitcoin futures contracts on Bakkt hit an all time high of $6.54M iearlier this week, according to a post from an automated volume-tracking twitter account . Cash, Not Crypto The introduction of options trading promises to inject fresh capital into the cryptocurrency market, and the addition of options data should serve as another key indicator into the potential volatility of bitcoin. However, cryptocurrency traders may have to wait and see how Bakkt’s options contracts play into the market—Bakkt has primarily appealed to traders as a broker for purely cash settlements, though it does offer physical contract delivery. Since the platform launched futures trading earlier this year, it has so far only delivered a small portion of physical bitcoins upon expiration, delivering just 17 BTC through all of October . Trade more than 30 cryptocurrency pairs with CryptoRocket Traders will ultimately have to wait and see whether the addition of bitcoin options contracts to Bakkt and CME injects more capital and volatility into the cryptocurrency market, or whether it simply allows for a new means of speculation. Other examples of derivatives, particularly futures and leveraged forex pairs, have already found success among active traders. For now, cryptocurrency traders should wait and see how much liquidity flows into the newly minted options market. Risk Warning: Trading leveraged products such as Forex and CFDs may not be suitable for all investors as they carry a degree of risk to your capital. Please ensure that you fully understand the risks involved, taking into account your investments objectives and level of experience, before trading, and if necessary seek independent advice. Please read the full Risk Disclosure This website is not directed at any jurisdiction and is not intended for any use that would be contrary to local law or regulation. Show Advertiser Disclosure Story continues See more from Benzinga Is Airfreight Killing Time? Friday's Market Minute: Ecodata In Focus FreightWaves Oil Report: Trying To Get More Canadian Crude On To The Rails © 2019 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. \|\| Coinbase’s Visa debit card adds support for DAI stablecoin: Cryptocurrency exchange Coinbase’s Visa debit card offering has added support for ethereum-based DAI stablecoin. Announcing the news Friday, Coinbase Card said DAI is the first stablecoin added to its offering. The debit card, launched this April, allows customers in the UK and EU to spend their cryptocurrencies directly from their Coinbase accounts. Just last month, Coinbase Card added support for four crypto assets - Brave browser’s basic attention token (BAT), Augur (REP), Stellar (XLM) and 0x (ZRX). It also supports bitcoin (BTC), ether (ETH), bitcoin cash (BCH) and litecoin (LTC). JD Millwood, head of marketing at Coinbase UK, recently said that the debit card offering “has helped tens of thousands of users spend their crypto as easily as the money in their bank accounts. With Christmas approaching, the demand for Coinbase Card will be will higher than ever.” Last month, Coinbase Card also expanded its reach to ten new countries in Europe, bringing the total to 29. The newly supported countries are Bulgaria, Croatia, Denmark, Hungary, Iceland, Liechtenstein, Norway, Poland, Romania, and Sweden. \|\| Coinbase’s Visa debit card adds support for DAI stablecoin: Cryptocurrency exchange Coinbase’s Visa debit card offering has added support for ethereum-based DAI stablecoin. Announcing the news Friday, Coinbase CardsaidDAI is the first stablecoin added to its offering. The debit card,launchedthis April, allows customers in the UK and EU to spend their cryptocurrencies directly from their Coinbase accounts.Just last month, Coinbase Cardaddedsupport for four crypto assets - Brave browser’s basic attention token (BAT), Augur (REP), Stellar (XLM) and 0x (ZRX). It also supports bitcoin (BTC), ether (ETH), bitcoin cash (BCH) and litecoin (LTC). JD Millwood, head of marketing at Coinbase UK, recently said that the debit card offering “has helped tens of thousands of users spend their crypto as easily as the money in their bank accounts. With Christmas approaching, the demand for Coinbase Card will be will higher than ever.” Last month, Coinbase Card alsoexpandedits reach to ten new countries in Europe, bringing the total to 29. The newly supported countries are Bulgaria, Croatia, Denmark, Hungary, Iceland, Liechtenstein, Norway, Poland, Romania, and Sweden. \|\| Bitcoin death cross to force price below critical support level: Bitcoin could be heading to yearly lows following last months death cross and a lack of positive sentiment. Bitcoin endured a distressing exponential moving average death cross on the daily chart on November 23, with several analysts suggesting that a descent to $5,900 is now on the cards. However, there has been a period of relative calm since the death cross, with Bitcoin languishing along the $7,350 level of support following a brief rally to $7,850 earlier this week. The previous two death crosses took place during the 2014 and 2018 bear markets, with Bitcoin proceeding to fall by more than 60% on both occasions. A slump of the same magnitude this time around would take Bitcoin to last Decembers bitter lows of $3,150, although analysts like Tone Vays and Peter Schiff have been calling for targets lower than $1,800. In order for Bitcoin to rally back towards new highs, it would need to trigger a technical reversal, which would only happen if it can close a daily candle above the death cross at $8,662. The most likely stopping points for Bitcoin over the coming weeks are the $6,750 and $5,900 levels of support, both of which held for significant amounts of time during the 2018 bear market. Upside targets remain at $7,900 and $8,400, although a news event may be required to drive attention and positive sentiment in the market. For more news, guides, and cryptocurrency analysis, click here . The post Bitcoin death cross to force price below critical support level appeared first on Coin Rivet . \|\| Bitcoin death cross to force price below critical support level: Bitcoin could be heading to yearly lows following last months death cross and a lack of positive sentiment. Bitcoin endured a distressing exponential moving average death cross on the daily chart on November 23, with several analysts suggesting that a descent to $5,900 is now on the cards. However, there has been a period of relative calm since the death cross, with Bitcoin languishing along the $7,350 level of support following a brief rally to $7,850 earlier this week. The previous two death crosses took place during the 2014 and 2018 bear markets, with Bitcoin proceeding to fall by more than 60% on both occasions. A slump of the same magnitude this time around would take Bitcoin to last Decembers bitter lows of $3,150, although analysts like Tone Vays and Peter Schiff have been calling for targets lower than $1,800. In order for Bitcoin to rally back towards new highs, it would need to trigger a technical reversal, which would only happen if it can close a daily candle above the death cross at $8,662. The most likely stopping points for Bitcoin over the coming weeks are the $6,750 and $5,900 levels of support, both of which held for significant amounts of time during the 2018 bear market. Upside targets remain at $7,900 and $8,400, although a news event may be required to drive attention and positive sentiment in the market. For more news, guides, and cryptocurrency analysis, click here . The post Bitcoin death cross to force price below critical support level appeared first on Coin Rivet . \|\| Bitcoin death cross to force price below critical support level: Bitcoin could be heading to yearly lows following last months death cross and a lack of positive sentiment. Bitcoin endured a distressing exponential moving average death cross on the daily chart on November 23, with several analysts suggesting that a descent to $5,900 is now on the cards. However, there has been a period of relative calm since the death cross, with Bitcoin languishing along the $7,350 level of support following a brief rally to $7,850 earlier this week. The previous two death crosses took place during the 2014 and 2018 bear markets, with Bitcoin proceeding to fall by more than 60% on both occasions. A slump of the same magnitude this time around would take Bitcoin to last Decembers bitter lows of $3,150, although analysts like Tone Vays and Peter Schiff have been calling for targets lower than $1,800. In order for Bitcoin to rally back towards new highs, it would need to trigger a technical reversal, which would only happen if it can close a daily candle above the death cross at $8,662. The most likely stopping points for Bitcoin over the coming weeks are the $6,750 and $5,900 levels of support, both of which held for significant amounts of time during the 2018 bear market. Upside targets remain at $7,900 and $8,400, although a news event may be required to drive attention and positive sentiment in the market. For more news, guides, and cryptocurrency analysis, click here . The post Bitcoin death cross to force price below critical support level appeared first on Coin Rivet . [Social Media Buzz] None available.	7564.35, 7400.90, 7278.12, 7217.43, 7243.13, 7269.68, 7124.67, 7152.30, 6932.48, 6640.52
Given the historical Bitcoin prices from the last 90 days, predict the next 10 daily closing prices. The historical prices are: 911.20, 902.83, 907.68, 777.76, 804.83, 823.98, 818.41, 821.80, 831.53, 907.94, 886.62, 899.07, 895.03, 921.79, 924.67, 921.01, 892.69, 901.54, 917.59, 919.75, 921.59, 919.50, 920.38, 970.40, 989.02, 1011.80, 1029.91, 1042.90, 1027.34, 1038.15, 1061.35, 1063.07, 994.38, 988.67, 1004.45, 999.18, 990.64, 1004.55, 1007.48, 1027.44, 1046.21, 1054.42, 1047.87, 1079.98, 1115.30, 1117.44, 1166.72, 1173.68, 1143.84, 1165.20, 1179.97, 1179.97, 1222.50, 1251.01, 1274.99, 1255.15, 1267.12, 1272.83, 1223.54, 1150.00, 1188.49, 1116.72, 1175.83, 1221.38, 1231.92, 1240.00, 1249.61, 1187.81, 1100.23, 973.82, 1036.74, 1054.23, 1120.54, 1049.14, 1038.59, 937.52, 972.78, 966.72, 1045.77, 1047.15, 1039.97, 1026.43, 1071.79, 1080.50, 1102.17, 1143.81, 1133.25, 1124.78, 1182.68, 1176.90.	[Bitcoin Technical Analysis for 2017-04-07] Volume: 317022016, RSI (14-day): 58.97, 50-day EMA: 1090.34, 200-day EMA: 915.49 [Wider Market Context] Gold Price: 1254.30, Gold RSI: 60.57 Oil Price: 52.24, Oil RSI: 62.87 [Recent News (last 7 days)] Flow airs Library of Caribbean Focused Content: MIAMI, FL--(Marketwired - Apr 6, 2017) - For the first time, Flow TV customers across the Caribbean will be able to see Caribbean themed content at their convenience via Flow's on Demand platform. Through a partnership with CaribbeanTales Worldwide Distribution (CTWD), customers will be able to access a variety of Caribbean films, from an extensive library every month on Flow On Demand in eight (8) Flow TV markets. John Reid, CEO of Cable & Wireless, the operator of the consumer brand Flow , said: "This is certainly a historic moment for Cable & Wireless /Flow and our partners CaribbeanTales, as together we will deliver high quality, relevant Caribbean content that gives audience a refreshing perspective on Caribbean life." CEO and Founder of CaribbeanTales , Frances-Anne Solomon, said, "We are delighted to extend our relationship with Flow to a wide regional audience who will now enjoy the best films from the greatest filmmakers across the Caribbean." In 2013, CTWD launched its own VOD platform, CaribbeanTales-TV, with ongoing global streaming of its Catalogue. Now, with Flow's extensive VOD reach across eight (8) countries, this new partnership makes the Catalogue's content more widely accessible to Caribbean audiences. The VOD partnership was launched in February with four compelling films celebrating Trinidad's iconic Carnival. In March the spotlight was on International Women's Day (March 8 th ), with four award-winning films by and about Caribbean women. There were two feature films: What My Mother Told Me , the ground-breaking, multi-award winning, dramatic narrative by CaribbeanTales CEO Frances-Anne Solomon -- one of the few films directed by a Trinidadian woman that deals with the survival strategies of middle-class Caribbean women. The other feature is Bahamian filmmaker Maria Govan's Rain , a young woman's coming-of-age story. The two documentaries are: The Solitary Alchemist , directed by Mariel Brown, chronicling the life and work of Trinidadian artist Barbara Jardine; and Candice Lela-Rolingson's Positive and Pregnant , a seminal film about a woman who becomes pregnant and is HIV positive. Story continues April's theme centers on the iconic Caribbean instrument developed in the backyard and streets of Port of Spain -- the steel pan. This month's titles are: Atiba Williams - Pan Prodigy , Trinidad and Tobagonian director Christopher Laird's film about the youngest person ever to arrange for a steelband; Panomundo Part 1 - The Evolution of Steel Pan , the first of a two-part documentary by Charysse Tia Harper about the history of the steelpan and its global influence; Let's Play Pan by Canadian director Ian Jones , which explores the evolution from the skin drum to the steel drum and its introduction to Toronto; and also the Frances-Anne Solomon-directed Heartbeat Season 1 Episode 9 - Ian Jones , where Jones talks about "How The Steel Pan Is Changing Lives." Each month, Flow plans to release more CaribbeanTales films via Flow on Demand -- including one film for free! About C&W Communications C&W is a full service communications and entertainment provider and delivers market-leading video, broadband, telephony and mobile services to consumers in 18 countries. Through its business division, C&W provides data center hosting, domestic and international managed network services, and customized IT service solutions, utilizing cloud technology to serve business and government customers. C&W also operates a state-of-the-art submarine fiber network - the most extensive in the region. Learn more at www.cwc.com , or follow C&W on LinkedIn , Facebook or Twitter . About Liberty Global Liberty Global is the world's largest international TV and broadband company, with operations in more than 30 countries across Europe, Latin America and the Caribbean. We invest in the infrastructure that empowers our customers to make the most of the digital revolution. Our scale and commitment to innovation enable us to develop market-leading products delivered through next generation networks that connect our 25 million customers who subscribe to over 50 million television, broadband internet and telephony services. We also serve over 10 million mobile subscribers and offer WiFi service across 5 million access points. Liberty Global's businesses are comprised of two stocks: the Liberty Global Group ( NASDAQ : LBTYA ) ( NASDAQ : LBTYB ) ( NASDAQ : LBTYK ) for our European operations, and the LiLAC Group ( NASDAQ : LILA ) ( NASDAQ : LILAK ) ( OTC PINK : LILAB ), which consists of our operations in Latin America and the Caribbean. The Liberty Global Group operates in 11 European countries under the consumer brands Virgin Media, Unitymedia, Telenet and UPC. The Liberty Global Group also owns 50% of VodafoneZiggo, a Dutch joint venture, which has 4 million customers, 10 million fixed-line subscribers and 5 million mobile subscribers. The LiLAC Group operates in over 20 countries in Latin America and the Caribbean under the consumer brands VTR, Flow, Liberty, Más Móvil and BTC. In addition, the LiLAC Group operates a sub-sea fiber network throughout the region in over 30 markets. For more information, please visit www.libertyglobal.com . \|\| Flow airs Library of Caribbean Focused Content: MIAMI, FL--(Marketwired - Apr 6, 2017) - For the first time, Flow TV customers across the Caribbean will be able to see Caribbean themed content at their convenience via Flow's on Demand platform. Through a partnership with CaribbeanTales Worldwide Distribution (CTWD), customers will be able to access a variety of Caribbean films, from an extensive library every month onFlow On Demandin eight (8) Flow TV markets. John Reid, CEO of Cable & Wireless, the operator of the consumer brandFlow, said: "This is certainly a historic moment forCable & Wireless/Flow and our partners CaribbeanTales, as together we will deliver high quality, relevant Caribbean content that gives audience a refreshing perspective on Caribbean life." CEO and Founder ofCaribbeanTales, Frances-Anne Solomon, said, "We are delighted to extend our relationship with Flow to a wide regional audience who will now enjoy the best films from the greatest filmmakers across the Caribbean." In 2013, CTWD launched its own VOD platform, CaribbeanTales-TV, with ongoing global streaming of its Catalogue. Now, with Flow's extensive VOD reach across eight (8) countries, this new partnership makes the Catalogue's content more widely accessible to Caribbean audiences. The VOD partnership was launched in February with four compelling films celebrating Trinidad's iconic Carnival. In March the spotlight was on International Women's Day (March 8th), with four award-winning films by and about Caribbean women. There were two feature films:What My Mother Told Me,the ground-breaking, multi-award winning, dramatic narrative by CaribbeanTales CEO Frances-Anne Solomon -- one of the few films directed by a Trinidadian woman that deals with the survival strategies of middle-class Caribbean women. The other feature is Bahamian filmmaker Maria Govan'sRain,a young woman's coming-of-age story. The two documentaries are:The Solitary Alchemist, directed by Mariel Brown, chronicling the life and work of Trinidadian artist Barbara Jardine; and Candice Lela-Rolingson'sPositive and Pregnant, a seminal film about a woman who becomes pregnant and is HIV positive. April's theme centers on the iconic Caribbean instrument developed in the backyard and streets of Port of Spain -- the steel pan. This month's titles are:Atiba Williams - Pan Prodigy, Trinidad and Tobagonian director Christopher Laird's film about the youngest person ever to arrange for a steelband;Panomundo Part 1 - The Evolution of Steel Pan, the first of a two-part documentary by Charysse Tia Harper about the history of the steelpan and its global influence;Let's Play Panby Canadian director Ian Jones,which explores the evolution from the skin drum to the steel drum and its introduction to Toronto; and also the Frances-Anne Solomon-directedHeartbeat Season 1 Episode 9 - Ian Jones, where Jones talks about "How The Steel Pan Is Changing Lives." Each month, Flow plans to release more CaribbeanTales films via Flow on Demand -- including one film for free! About C&W Communications C&W is a full service communications and entertainment provider and delivers market-leading video, broadband, telephony and mobile services to consumers in 18 countries. Through its business division, C&W provides data center hosting, domestic and international managed network services, and customized IT service solutions, utilizing cloud technology to serve business and government customers. C&W also operates a state-of-the-art submarine fiber network - the most extensive in the region. Learn more atwww.cwc.com, or follow C&W onLinkedIn,FacebookorTwitter. About Liberty Global Liberty Global is the world's largest international TV and broadband company, with operations in more than 30 countries across Europe, Latin America and the Caribbean. We invest in the infrastructure that empowers our customers to make the most of the digital revolution. Our scale and commitment to innovation enable us to develop market-leading products delivered through next generation networks that connect our 25 million customers who subscribe to over 50 million television, broadband internet and telephony services. We also serve over 10 million mobile subscribers and offer WiFi service across 5 million access points. Liberty Global's businesses are comprised of two stocks: the Liberty Global Group (NASDAQ:LBTYA) (NASDAQ:LBTYB) (NASDAQ:LBTYK) for our European operations, and the LiLAC Group (NASDAQ:LILA) (NASDAQ:LILAK) (OTC PINK:LILAB), which consists of our operations in Latin America and the Caribbean. The Liberty Global Group operates in 11 European countries under the consumer brands Virgin Media, Unitymedia, Telenet and UPC. The Liberty Global Group also owns 50% of VodafoneZiggo, a Dutch joint venture, which has 4 million customers, 10 million fixed-line subscribers and 5 million mobile subscribers. The LiLAC Group operates in over 20 countries in Latin America and the Caribbean under the consumer brands VTR, Flow, Liberty, Más Móvil and BTC. In addition, the LiLAC Group operates a sub-sea fiber network throughout the region in over 30 markets. For more information, please visitwww.libertyglobal.com. \|\| How to handle bitcoin gains on your taxes: When you file your taxes this year, your accountant might ask if you own any bitcoin. The popular digital currency recently hit an all-time high of $1,327 per coin, and while there arguably still hasnt been a killer app (a mainstream purpose for a layperson to use bitcoin), its main use right now is as a speculative investmentand it has been a good investment . And if youve bought something using bitcoin, or sold something for bitcoin, or traded bitcoin for fiat currency, you should consider making that clear on your taxes. This is the first year Ive asked about it, says Mark Stafford, a CPA in Maryland. I had one client try to be a miner last year and I realized it was possible that clients were involved and might not think to tell me. Believe it or not, the IRS posted official language on digital currency back in 2014; it considers bitcoin to be property . For federal tax purposes, the IRS says in no uncertain terms, virtual currency is treated as property. General tax principles applicable to property transactions apply to transactions using virtual currency. If youve bought bitcoin simply to hold it as a speculative investment, you dont need to disclose anything. But as with stocks, income from the sale of bitcoin would be taxed as capital gains, based on the value of bitcoin at the time you sold it. The same goes for if you receive bitcoin as payment, the IRS says: A taxpayer who receives virtual currency as payment for goods or services must, in computing gross income, include the fair market value of the virtual currency, measured in US dollars. There were a number of ways the IRS could have classified bitcoin. It could have labeled it as currency, or a commodity, or a security or debt instrument, as corporate tax attorney Bob Derber has written at the web site of digital currency research group Coin Center . Bitcoin has qualities resembling all of these property forms, yet it does not neatly fit any of them, Derber wrote. Had the IRS treated bitcoin as a currency, special tax rules would have applied to its use and ownership. Story continues By labeling it property, a bitcoin-for-goods transaction is almost like bartering. If you sell your car for bitcoin, the IRS is saying, its property for property, rather than currency for property, which is treated differently. By not labeling it a currency, bitcoin does not generate a foreign currency gain or loss for tax purposes. Thats surprising, since so much bitcoin is purchased from international exchanges. On the other hand, you cant physically hold bitcoins, so as Derber puts it, W ere still not exactly sure how to define where the bitcoin exists. Labeling it as property may not be a fully adequate description of what bitcoin is and does, but for now, Derber tells Yahoo Finance, Its the best one can do. What it really comes down to is, Who knows what it is yet? Certainly the IRS doesnt. Cameron Arterton, a tax attorney in Washington who worked in the Treasury Departments tax policy office, helped work on the 2014 IRS notice on bitcoin. I dont think there was another way they could have done it at that point, she says, but that was 2014, and we havent seen anything else. I think taxpayers need more. The guidance they put out was a good start, but it left so many questions unanswered. Bitcoin is still a nascent technology, still misunderstood by many, and still something regulators are puzzling over. In fact, last year the IRS demanded user transaction records from Coinbase, the leading US bitcoin wallet provider, from 2013 to 2015. The investigation is ongoing, but so far it has yielded the fact that only 800 people, over those three years, filed a Form 8949 to disclose property related to bitcoin . Form 8949 is for reporting sales of capital assets. It has no language specific to bitcoin, but it follows that if bitcoin is property, thats the form youd use to disclose gains from receiving or selling it. Its a good idea to disclose every possible financial gain on your taxes. The fact that the IRS even has official language on bitcoin is a sign that it recognizes bitcoin has staying power. But the Coinbase summons, Arterton says, is less encouraging, because it shows the IRS is taking an enforcement route toward bitcoin. It suggests that theyre thinking of this like offshore bank accounts, where they dont really know whats going on but they think that theres tax evasion, she says. Of course, just because the IRS has guidelines doesnt mean people will comply. The irony of bitcoin guidelines for tax purposes is that the entire appeal of bitcoin, originally, was that it is anonymous and unregulated. Many of the earliest bitcoin believers were libertarians who want the currency to exist outside of government reach, untouched by regulators . No one really knows exactly how many people own bitcoin. There are 7 million unique addresses (or payment destinations) that own more than $1 in bitcoin , but many people have multiple addresses, so most estimates suggest that its only between 2 million and 4 million unique holders. When the SEC harshly rejected a proposal from the Winklevoss brothers for a bitcoin ETF , it did say that fewer than 1,000 people own more than 50% of all bitcoins. Clearly, the 800 people who disclosed bitcoin gains from 2013 to 2015 represent just a fraction of all bitcoin owners. That might make you think that even if you have had gains from bitcoin, you dont need to bother disclosing it on your taxes. And you might be rightunless the IRS decides to more actively pursue taxation of the cryptocurrency. The best course, says Derber, who is also a (non-active) CPA, is to disclose it. And if your personal tax professional didnt ask this year, they will likely start asking soon enough. Daniel Roberts is a writer at Yahoo Finance, covering fintech and digital currency. Follow him on Twitter at @readDanwrite . Read more: Bitcoin crashes after SEC rejects Winklevoss ETF Bitcoin is becoming the new gold Expect more blockchain hype in 2017 Why 21.co is the most exciting bitcoin company right now \|\| How to handle bitcoin gains on your taxes: When you file your taxes this year, your accountant might ask if you own any bitcoin. The popular digital currency recently hit an all-time high of $1,327 per coin, and while there arguablystill hasn’t been a “killer app”(a mainstream purpose for a layperson to use bitcoin), its main use right now is as a speculative investment—andit has been a good investment. And if you’ve bought something using bitcoin, or sold something for bitcoin, or traded bitcoin for fiat currency, you should consider making that clear on your taxes. “This is the first year I’ve asked about it,” says Mark Stafford, a CPA in Maryland. “I had one client try to be a miner last year and I realized it was possible that clients were involved and might not think to tell me.” Believe it or not, the IRS posted official language on digital currency back in 2014; itconsiders bitcoin to be property. “For federal tax purposes,” the IRS says in no uncertain terms, “virtual currency is treated as property. General tax principles applicable to property transactions apply to transactions using virtual currency.” If you’ve bought bitcoin simply to hold it as a speculative investment, you don’t need to disclose anything. But as with stocks, income from the sale of bitcoin would be taxed as capital gains, based on the value of bitcoin at the time you sold it. The same goes for if you receive bitcoin as payment, the IRS says: “A taxpayer who receives virtual currency as payment for goods or services must, in computing gross income, include the fair market value of the virtual currency, measured in US dollars.” There were a number of ways the IRS could have classified bitcoin. It could have labeled it as currency, or a commodity, or a security or debt instrument, as corporate tax attorney Bob Derber has written at the web site ofdigital currency research group Coin Center. “Bitcoin has qualities resembling all of these property forms, yet it does not neatly fit any of them,” Derber wrote. “Had the IRS treated bitcoin as a currency, special tax rules would have applied to its use and ownership.” By labeling it property, a bitcoin-for-goods transaction is almost like bartering. If you sell your car for bitcoin, the IRS is saying, it’s property for property, rather than currency for property, which is treated differently. By not labeling it a currency, bitcoin does not generate a foreign currency gain or loss for tax purposes. That’s surprising, since so much bitcoin is purchased from international exchanges. On the other hand, you can’t physically hold bitcoins, so as Derber puts it, “We’re still not exactly sure how to define where the bitcoin exists.” Labeling it as property may not be a fully adequate description of what bitcoin is and does, but for now, Derber tells Yahoo Finance, “It’s the best one can do. What it really comes down to is, Who knows what it is yet?” Certainly the IRS doesn’t. Cameron Arterton, a tax attorney in Washington who worked in the Treasury Department’s tax policy office, helped work on the 2014 IRS notice on bitcoin. “I don’t think there was another way they could have done it at that point,” she says, “but that was 2014, and we haven’t seen anything else. I think taxpayers need more. The guidance they put out was a good start, but it left so many questions unanswered.” Bitcoin is still a nascent technology, still misunderstood by many, and still something regulators are puzzling over. In fact, last year the IRS demanded user transaction records from Coinbase, the leading US bitcoin wallet provider, from 2013 to 2015. The investigation is ongoing, but so far it has yielded the fact that only 800 people, over those three years,filed a Form 8949 to disclose property “related to bitcoin.” Form 8949is for reporting sales of capital assets. It has no language specific to bitcoin, but it follows that if bitcoin is property, that’s the form you’d use to disclose gains from receiving or selling it. The fact that the IRS even has official language on bitcoin is a sign that it recognizes bitcoin has staying power. But the Coinbase summons, Arterton says, is less encouraging, because it shows the IRS is taking an enforcement route toward bitcoin. “Itsuggests that they’re thinking of this like offshore bank accounts, where they don’t really know what’s going on but they think that there’s tax evasion,” she says. Of course, just because the IRS has guidelines doesn’t mean people will comply. The irony of bitcoin guidelines for tax purposes is that the entire appeal of bitcoin, originally, was that it is anonymous and unregulated. Many of the earliest bitcoin believers were libertarians who want the currency to existoutside of government reach, untouched by regulators. No one really knows exactly how many people own bitcoin. There are7 million unique addresses (or payment destinations) that own more than $1 in bitcoin, but many people have multiple addresses, so most estimates suggest that it’s only between 2 million and 4 million unique holders. When theSEC harshly rejected a proposal from the Winklevoss brothers for a bitcoin ETF, it did say that fewer than 1,000 people own more than 50% of all bitcoins. Clearly, the 800 people who disclosed bitcoin gains from 2013 to 2015 represent just a fraction of all bitcoin owners. That might make you think that even if you have had gains from bitcoin, you don’t need to bother disclosing it on your taxes. And you might be right—unless the IRS decides to more actively pursue taxation of the cryptocurrency. The best course, says Derber, who is also a (non-active) CPA, is to disclose it. And if your personal tax professional didn’t ask this year, they will likely start asking soon enough. — Daniel Roberts is a writer at Yahoo Finance, covering fintech and digital currency. Follow him on Twitter at@readDanwrite. Read more: Bitcoin crashes after SEC rejects Winklevoss ETF Bitcoin is becoming the new gold Expect more blockchain hype in 2017 Why 21.co is the most exciting bitcoin company right now \|\| NCR Expands its Silver Point-of-Sale System in Australia: NCR CorporationNCR recently announced that its cloud-based point-of-sale (POS) system, NCR Silver, has been implemented on Australian shores (retail, service and restaurant merchants). NCR Silver provides merchants with a complete cloud-based POS system compatible with mobile devices. NCR Silver is now available on Apple AAPL iOS and closed Android devices. Moreover, the system now supports various payment options including Bitcoin and PayPal, to name a few. An increasing number of people are now opting for this mode of payment as it does not require middlemen, transaction fee or the need to disclose identity to complete a transaction. NCR Silver will be useful for Australia-based merchants as they can turn their tablet into a complete POS system that can run on numerous devices. According to, Adam McArdle, regional director Asia Pacific, NCR, “We’ve developed NCR Silver specifically with the small business market in mind,” He further added, “We understand the challenges small businesses face, and what’s going to make an impact on their bottom line and the value they place on customers. We’re confident that this new offering will help them manage and grow their business.” Price Subscription of NCR Silver core app and NCR Silver Pro Restaurant Edition app starts from AU$109 plus GST for a single location running the app on one device. Further, customers will be charged extra for add-on services which will be available soon. NCR Grows in POS The demand for NCR’s POS solution is growing among retailers and hospitality industries as it facilitates the automation of bill payment and accounting. As a result, managers get ample time for customer interaction, leading to increased productivity. NCR strengthened its position in the POS market through the acquisition of Radiant Systems in Aug 2011. According to Global Market Insights, the global market size of POS terminals will reach $103.52 billion by 2023. The report also says that market size of POS terminals, which at the end of 2015 was 32 million units, will reach 126 million units by 2023, reflecting a CAGR of 18.3% through the period. Another research firm stated that the global POS terminal market, valued at $42.14 billion in 2015, is expected to reach $113.27 billion by 2024. Thus, NCR with its varied offerings of POS terminals and solutions should be able to capitalize on these growth opportunities. Last Words In the last one year, the company’s shares surged a whopping 47.8%, crushing the Zacks categorized Computer-Integrated Systems industry’s gain of 16%. The company has also been the global leader in self-service ATMs for several years in terms of market share. NCR remains the largest supplier of ATM machines in Asia-Pacific and North America while maintaining its leadership in the Asian and European markets. By 2020, RBR Research expects India to install base similar to the size of the U.S., trailing only China. Currently, India is the world’s fourth-largest ATM market, with China, the U.S. and Japan holding the first three spots. This creates huge opportunities for companies like NCR. Going forward, continuous product launches, growing popularity of its self-service offerings and synergies from acquisitions are the catalysts. Continuous deal wins also drive growth. However, similar offerings from the likes of Diebold Corp. DBD and International Business Machines Corp. IBM and a high debt burden remain concerns. Currently, NCR carries a Zacks Rank #3 (Hold). You can seethe complete list of today’s Zacks #1 Rank (Strong Buy) stocks here. Zacks’ Best Private Investment Ideas In addition to the recommendations that are available to the public on our website, how would you like to follow all Zacks' private buys and sells in real time? Our experts cover all kinds of trades… from value to momentum . . . from stocks under $10 to ETF and option moves . . . from stocks that corporate insiders are buying up to companies that are about to report positive earnings surprises. You can even look inside exclusive portfolios that are normally closed to new investors. Starting today, for the next month, you can have unrestricted access.Click here for Zacks' private trades >> Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days.Click to get this free reportInternational Business Machines Corporation (IBM): Free Stock Analysis ReportNCR Corporation (NCR): Free Stock Analysis ReportDiebold, Incorporated (DBD): Free Stock Analysis ReportApple Inc. (AAPL): Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment Research \|\| NCR Expands its Silver Point-of-Sale System in Australia: NCR Corporation NCR recently announced that its cloud-based point-of-sale (POS) system, NCR Silver, has been implemented on Australian shores (retail, service and restaurant merchants). NCR Silver provides merchants with a complete cloud-based POS system compatible with mobile devices. NCR Silver is now available on Apple AAPL iOS and closed Android devices. Moreover, the system now supports various payment options including Bitcoin and PayPal, to name a few. An increasing number of people are now opting for this mode of payment as it does not require middlemen, transaction fee or the need to disclose identity to complete a transaction. NCR Silver will be useful for Australia-based merchants as they can turn their tablet into a complete POS system that can run on numerous devices. According to, Adam McArdle, regional director Asia Pacific, NCR, “We’ve developed NCR Silver specifically with the small business market in mind,” He further added, “We understand the challenges small businesses face, and what’s going to make an impact on their bottom line and the value they place on customers. We’re confident that this new offering will help them manage and grow their business.” Price Subscription of NCR Silver core app and NCR Silver Pro Restaurant Edition app starts from AU$109 plus GST for a single location running the app on one device. Further, customers will be charged extra for add-on services which will be available soon. NCR Grows in POS The demand for NCR’s POS solution is growing among retailers and hospitality industries as it facilitates the automation of bill payment and accounting. As a result, managers get ample time for customer interaction, leading to increased productivity. NCR strengthened its position in the POS market through the acquisition of Radiant Systems in Aug 2011. According to Global Market Insights, the global market size of POS terminals will reach $103.52 billion by 2023. The report also says that market size of POS terminals, which at the end of 2015 was 32 million units, will reach 126 million units by 2023, reflecting a CAGR of 18.3% through the period. Story continues Another research firm stated that the global POS terminal market, valued at $42.14 billion in 2015, is expected to reach $113.27 billion by 2024. Thus, NCR with its varied offerings of POS terminals and solutions should be able to capitalize on these growth opportunities. Last Words In the last one year, the company’s shares surged a whopping 47.8%, crushing the Zacks categorized Computer-Integrated Systems industry’s gain of 16%. The company has also been the global leader in self-service ATMs for several years in terms of market share. NCR remains the largest supplier of ATM machines in Asia-Pacific and North America while maintaining its leadership in the Asian and European markets. By 2020, RBR Research expects India to install base similar to the size of the U.S., trailing only China. Currently, India is the world’s fourth-largest ATM market, with China, the U.S. and Japan holding the first three spots. This creates huge opportunities for companies like NCR. Going forward, continuous product launches, growing popularity of its self-service offerings and synergies from acquisitions are the catalysts. Continuous deal wins also drive growth. However, similar offerings from the likes of Diebold Corp. DBD and International Business Machines Corp. IBM and a high debt burden remain concerns. Currently, NCR carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here . Zacks’ Best Private Investment Ideas In addition to the recommendations that are available to the public on our website, how would you like to follow all Zacks' private buys and sells in real time? Our experts cover all kinds of trades… from value to momentum . . . from stocks under $10 to ETF and option moves . . . from stocks that corporate insiders are buying up to companies that are about to report positive earnings surprises. You can even look inside exclusive portfolios that are normally closed to new investors. Starting today, for the next month, you can have unrestricted access. Click here for Zacks' private trades >> Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report International Business Machines Corporation (IBM): Free Stock Analysis Report NCR Corporation (NCR): Free Stock Analysis Report Diebold, Incorporated (DBD): Free Stock Analysis Report Apple Inc. (AAPL): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research \|\| Bitcoin Unlimited Futures Used to Extinguish Debt of Leading Bitcoin Public Company: VANCOUVER, BC / ACCESSWIRE / April 6, 2017 /First Bitcoin Capital Corp (OTC PINK: BITCF), in a related party transaction paid off approximately $200,000 in debt utilizing Bitcoin Unlimited Futures, making the Company 100% debt free. Bitcoin Unlimited Futures is one of the latest cryptographic creations of the company and rides on the rails of the Bitcoin Blockchain. Released by the Company as a means of allowing speculators to predict the outcome of the forthcoming hard fork of Bitcoin Core into two distinct assets, Bitcoin Unlimited Futures trades under the symbols XBU on the decentralized OMNIDEX and the Company's subsidiary, COINQX.com as well as XB on the CCEX.com exchanges. XBU or XB is not to be confused with competing efforts to presale actual Bitcoin Unlimited (BTU) prior to the hard fork, whereas in the case of XBU/XB our coin will not become BTU, instead, it will trade independently as a third currency. There is no relation of XBU or XB to the actual Bitcoin other than that it was created on and moves along the rails of the Bitcoin Blockchain using the Omni Layer Protocols. BTU is trading at about half of the trading value of XBU/XB. Efforts by two competing exchanges to capitalize on the pending hard fork can be found here:http://coinmarketcap.com/currencies/bitcoin-unlimited/ Due to the ephemeral nature of XBU/XB, the Company's creditor agreed to accept XBU at a discount from current illiquid market rates so that the company has paid 2,000 XBU/XT to settle this related party debt from its growing inventory of altcoins. "Becoming debt free not only strengthens our balance sheet but is an important milestone for a development stage company which positions the company for a more rapid path to profitability." The company is also conducting its first ICO (Initial Coin Offering) which is actively offered at a bonus to "early bird" participants. In order to participate in the company's recently announced AltCoin ICO, kindly review further details athttp://www.AltCoinMarketCap.com About the company: First Bitcoin Capital is engaged in developing digital currencies, proprietary Blockchain technologies, and the digital currency exchange- www.CoinQX.com. We see this step as a tremendous opportunity to create further shareholder value by leveraging management's experience in developing and managing complex Blockchain technologies, developing new types of digital assets. Being the first publicly-traded cryptocurrency and blockchain-centered company (with shares both traded in the US OTC Markets as [BITCF] and as [BIT] in crypto exchanges) we want to provide our shareholders with diversified exposure to digital cryptocurrencies and blockchain technologies. At this time the Company is developing several cryptocurrency related businesses and owns and operates the following digital assets. www.CoinQX.comcryptocurrency exchange, registered with FINCEN. www.iCoiNEWS.comreal time cryptocurrency and bitcoin news site. www.BITminer.ccproviding mining pool management services. www.2016coin.orgonline daily election coverage and home page for $PRES, $HILL, $GARY& $BURN -commemorative presidential election coins. www.bitcannpay.comOpen Loop merchant services for dispensaries. List of Omni protocol coins issued on the Bitcoin Blockchain owned by the Company:http://omnichest.info/lookupadd.aspx?address=1FwADyEvdvaLNxjN1v3q6tNJCgHEBuABrS Follow us on Twitter @First_Bitcoin $BITCF About BITCOIN UNLIMITED The Bitcoin Unlimited (BU) project seeks to provide a voice to all stakeholders in the Bitcoin ecosystem. Every node operator or miner can currently choose their own block size limit by modifying their client. Bitcoin Unlimited makes the process easier by providing a configurable option for the accepted and generated block size via a GUI menu. Bitcoin Unlimited further provides a user-configurable failsafe setting allowing you to accept a block larger than your maximum accepted block size if it reaches a certain number of blocks deep in the chain. By moving the block size limit from the protocol layer to the transport layer, Bitcoin Unlimited removes the only point of central control in the Bitcoin economy - the block size limit - and returns it to the nodes and the miners. An emergent consensus will thus arise based on free-market economics as the nodes/miners converge on consensus focal points, creating in the process a living, breathing entity that responds to changing real-world conditions in a free and decentralized manner. This approach is supported by the evidence accumulated over the past six years. The miners and node operators have until now been free to choose a soft limit which, as demand grew, has always been increased in a responsive and organic manner to meet the needs of the market. We expect miners to continue in this tested and proven free-market way by, for instance, coordinating to set a new generated block size limit of 2MB and reject any blocks larger than 2MB unless they reach 4 blocks deep in the longest chain. As demand increases, the limit can easily be increased to 3MB, 4MB, and so on, thus removing central control over the process of finding the equilibrium block size by allowing the free market to arrive at the correct choice in a decentralized fashion. As a foundational principle, we assert that Bitcoin is and should be whatever its users define by the code they run, and the rules they vote for with their hash power. Bitcoin Unlimited seeks to remove existing practical barriers to stakeholders expressing their views in these ways. For more information, please visitwww.bitcoinunlimited.info Forward-Looking Statements Certain statements contained in this press release may constitute "forward-looking statements." Forward-looking statements provide current expectations of future events based on certain assumptions and include any statement that does not directly relate to any historical or current fact. Actual results may differ materially from those indicated by such forward-looking statements as a result of various important factors as may be disclosed in company's filings. In addition to these factors, actual future performance, outcomes, and results may differ materially because of more general factors including (without limitation) general industry and market conditions and growth rates, economic conditions, and governmental and public policy changes. The forward-looking statements included in this press release represent the Company's views as of the date of this press release and these views could change. However, while the Company may elect to update these forward-looking statements at some point in the future, the Company specifically disclaims any obligation to do so. These forward-looking statements should not be relied upon as representing the Company's views as of any date subsequent to the date of the press release.Such forward-looking statements are risks that are detailed in the Company's filings, which are on file atwww.OTCMarkets.com. Contact us [email protected] visithttp://www.bitcoincapitalcorp.com SOURCE:First Bitcoin Capital Corp. \|\| Bitcoin Unlimited Futures Used to Extinguish Debt of Leading Bitcoin Public Company: VANCOUVER, BC / ACCESSWIRE / April 6, 2017 / First Bitcoin Capital Corp (OTC PINK: BITCF), in a related party transaction paid off approximately $200,000 in debt utilizing Bitcoin Unlimited Futures, making the Company 100% debt free. Bitcoin Unlimited Futures is one of the latest cryptographic creations of the company and rides on the rails of the Bitcoin Blockchain. Released by the Company as a means of allowing speculators to predict the outcome of the forthcoming hard fork of Bitcoin Core into two distinct assets, Bitcoin Unlimited Futures trades under the symbols XBU on the decentralized OMNIDEX and the Company's subsidiary, COINQX.com as well as XB on the CCEX.com exchanges. XBU or XB is not to be confused with competing efforts to presale actual Bitcoin Unlimited (BTU) prior to the hard fork, whereas in the case of XBU/XB our coin will not become BTU, instead, it will trade independently as a third currency. There is no relation of XBU or XB to the actual Bitcoin other than that it was created on and moves along the rails of the Bitcoin Blockchain using the Omni Layer Protocols. BTU is trading at about half of the trading value of XBU/XB. Efforts by two competing exchanges to capitalize on the pending hard fork can be found here: http://coinmarketcap.com/currencies/bitcoin-unlimited/ Due to the ephemeral nature of XBU/XB, the Company's creditor agreed to accept XBU at a discount from current illiquid market rates so that the company has paid 2,000 XBU/XT to settle this related party debt from its growing inventory of altcoins. "Becoming debt free not only strengthens our balance sheet but is an important milestone for a development stage company which positions the company for a more rapid path to profitability." The company is also conducting its first ICO (Initial Coin Offering) which is actively offered at a bonus to "early bird" participants. In order to participate in the company's recently announced AltCoin ICO, kindly review further details at http://www.AltCoinMarketCap.com Story continues About the company: First Bitcoin Capital is engaged in developing digital currencies, proprietary Blockchain technologies, and the digital currency exchange- www.CoinQX.com. We see this step as a tremendous opportunity to create further shareholder value by leveraging management's experience in developing and managing complex Blockchain technologies, developing new types of digital assets. Being the first publicly-traded cryptocurrency and blockchain-centered company (with shares both traded in the US OTC Markets as [BITCF] and as [BIT] in crypto exchanges) we want to provide our shareholders with diversified exposure to digital cryptocurrencies and blockchain technologies. At this time the Company is developing several cryptocurrency related businesses and owns and operates the following digital assets. www.CoinQX.com cryptocurrency exchange, registered with FINCEN. www.iCoiNEWS.com real time cryptocurrency and bitcoin news site. www.BITminer.cc providing mining pool management services. www.2016coin.org online daily election coverage and home page for $PRES, $HILL, $GARY& $BURN -commemorative presidential election coins. www.bitcannpay.com Open Loop merchant services for dispensaries. List of Omni protocol coins issued on the Bitcoin Blockchain owned by the Company: http://omnichest.info/lookupadd.aspx?address=1FwADyEvdvaLNxjN1v3q6tNJCgHEBuABrS Follow us on Twitter @First_Bitcoin $BITCF About BITCOIN UNLIMITED The Bitcoin Unlimited (BU) project seeks to provide a voice to all stakeholders in the Bitcoin ecosystem. Every node operator or miner can currently choose their own block size limit by modifying their client. Bitcoin Unlimited makes the process easier by providing a configurable option for the accepted and generated block size via a GUI menu. Bitcoin Unlimited further provides a user-configurable failsafe setting allowing you to accept a block larger than your maximum accepted block size if it reaches a certain number of blocks deep in the chain. By moving the block size limit from the protocol layer to the transport layer, Bitcoin Unlimited removes the only point of central control in the Bitcoin economy - the block size limit - and returns it to the nodes and the miners. An emergent consensus will thus arise based on free-market economics as the nodes/miners converge on consensus focal points, creating in the process a living, breathing entity that responds to changing real-world conditions in a free and decentralized manner. This approach is supported by the evidence accumulated over the past six years. The miners and node operators have until now been free to choose a soft limit which, as demand grew, has always been increased in a responsive and organic manner to meet the needs of the market. We expect miners to continue in this tested and proven free-market way by, for instance, coordinating to set a new generated block size limit of 2MB and reject any blocks larger than 2MB unless they reach 4 blocks deep in the longest chain. As demand increases, the limit can easily be increased to 3MB, 4MB, and so on, thus removing central control over the process of finding the equilibrium block size by allowing the free market to arrive at the correct choice in a decentralized fashion. As a foundational principle, we assert that Bitcoin is and should be whatever its users define by the code they run, and the rules they vote for with their hash power. Bitcoin Unlimited seeks to remove existing practical barriers to stakeholders expressing their views in these ways. For more information, please visit www.bitcoinunlimited.info Forward-Looking Statements Certain statements contained in this press release may constitute "forward-looking statements." Forward-looking statements provide current expectations of future events based on certain assumptions and include any statement that does not directly relate to any historical or current fact. Actual results may differ materially from those indicated by such forward-looking statements as a result of various important factors as may be disclosed in company's filings. In addition to these factors, actual future performance, outcomes, and results may differ materially because of more general factors including (without limitation) general industry and market conditions and growth rates, economic conditions, and governmental and public policy changes. The forward-looking statements included in this press release represent the Company's views as of the date of this press release and these views could change. However, while the Company may elect to update these forward-looking statements at some point in the future, the Company specifically disclaims any obligation to do so. These forward-looking statements should not be relied upon as representing the Company's views as of any date subsequent to the date of the press release.Such forward-looking statements are risks that are detailed in the Company's filings, which are on file at www.OTCMarkets.com . Contact us via [email protected] or visit http://www.bitcoincapitalcorp.com SOURCE: First Bitcoin Capital Corp. \|\| Bitcoin Unlimited Futures Used to Extinguish Debt of Leading Bitcoin Public Company: VANCOUVER, BC / ACCESSWIRE / April 6, 2017 /First Bitcoin Capital Corp (OTC PINK: BITCF), in a related party transaction paid off approximately $200,000 in debt utilizing Bitcoin Unlimited Futures, making the Company 100% debt free. Bitcoin Unlimited Futures is one of the latest cryptographic creations of the company and rides on the rails of the Bitcoin Blockchain. Released by the Company as a means of allowing speculators to predict the outcome of the forthcoming hard fork of Bitcoin Core into two distinct assets, Bitcoin Unlimited Futures trades under the symbols XBU on the decentralized OMNIDEX and the Company's subsidiary, COINQX.com as well as XB on the CCEX.com exchanges. XBU or XB is not to be confused with competing efforts to presale actual Bitcoin Unlimited (BTU) prior to the hard fork, whereas in the case of XBU/XB our coin will not become BTU, instead, it will trade independently as a third currency. There is no relation of XBU or XB to the actual Bitcoin other than that it was created on and moves along the rails of the Bitcoin Blockchain using the Omni Layer Protocols. BTU is trading at about half of the trading value of XBU/XB. Efforts by two competing exchanges to capitalize on the pending hard fork can be found here:http://coinmarketcap.com/currencies/bitcoin-unlimited/ Due to the ephemeral nature of XBU/XB, the Company's creditor agreed to accept XBU at a discount from current illiquid market rates so that the company has paid 2,000 XBU/XT to settle this related party debt from its growing inventory of altcoins. "Becoming debt free not only strengthens our balance sheet but is an important milestone for a development stage company which positions the company for a more rapid path to profitability." The company is also conducting its first ICO (Initial Coin Offering) which is actively offered at a bonus to "early bird" participants. In order to participate in the company's recently announced AltCoin ICO, kindly review further details athttp://www.AltCoinMarketCap.com About the company: First Bitcoin Capital is engaged in developing digital currencies, proprietary Blockchain technologies, and the digital currency exchange- www.CoinQX.com. We see this step as a tremendous opportunity to create further shareholder value by leveraging management's experience in developing and managing complex Blockchain technologies, developing new types of digital assets. Being the first publicly-traded cryptocurrency and blockchain-centered company (with shares both traded in the US OTC Markets as [BITCF] and as [BIT] in crypto exchanges) we want to provide our shareholders with diversified exposure to digital cryptocurrencies and blockchain technologies. At this time the Company is developing several cryptocurrency related businesses and owns and operates the following digital assets. www.CoinQX.comcryptocurrency exchange, registered with FINCEN. www.iCoiNEWS.comreal time cryptocurrency and bitcoin news site. www.BITminer.ccproviding mining pool management services. www.2016coin.orgonline daily election coverage and home page for $PRES, $HILL, $GARY& $BURN -commemorative presidential election coins. www.bitcannpay.comOpen Loop merchant services for dispensaries. List of Omni protocol coins issued on the Bitcoin Blockchain owned by the Company:http://omnichest.info/lookupadd.aspx?address=1FwADyEvdvaLNxjN1v3q6tNJCgHEBuABrS Follow us on Twitter @First_Bitcoin $BITCF About BITCOIN UNLIMITED The Bitcoin Unlimited (BU) project seeks to provide a voice to all stakeholders in the Bitcoin ecosystem. Every node operator or miner can currently choose their own block size limit by modifying their client. Bitcoin Unlimited makes the process easier by providing a configurable option for the accepted and generated block size via a GUI menu. Bitcoin Unlimited further provides a user-configurable failsafe setting allowing you to accept a block larger than your maximum accepted block size if it reaches a certain number of blocks deep in the chain. By moving the block size limit from the protocol layer to the transport layer, Bitcoin Unlimited removes the only point of central control in the Bitcoin economy - the block size limit - and returns it to the nodes and the miners. An emergent consensus will thus arise based on free-market economics as the nodes/miners converge on consensus focal points, creating in the process a living, breathing entity that responds to changing real-world conditions in a free and decentralized manner. This approach is supported by the evidence accumulated over the past six years. The miners and node operators have until now been free to choose a soft limit which, as demand grew, has always been increased in a responsive and organic manner to meet the needs of the market. We expect miners to continue in this tested and proven free-market way by, for instance, coordinating to set a new generated block size limit of 2MB and reject any blocks larger than 2MB unless they reach 4 blocks deep in the longest chain. As demand increases, the limit can easily be increased to 3MB, 4MB, and so on, thus removing central control over the process of finding the equilibrium block size by allowing the free market to arrive at the correct choice in a decentralized fashion. As a foundational principle, we assert that Bitcoin is and should be whatever its users define by the code they run, and the rules they vote for with their hash power. Bitcoin Unlimited seeks to remove existing practical barriers to stakeholders expressing their views in these ways. For more information, please visitwww.bitcoinunlimited.info Forward-Looking Statements Certain statements contained in this press release may constitute "forward-looking statements." Forward-looking statements provide current expectations of future events based on certain assumptions and include any statement that does not directly relate to any historical or current fact. Actual results may differ materially from those indicated by such forward-looking statements as a result of various important factors as may be disclosed in company's filings. In addition to these factors, actual future performance, outcomes, and results may differ materially because of more general factors including (without limitation) general industry and market conditions and growth rates, economic conditions, and governmental and public policy changes. The forward-looking statements included in this press release represent the Company's views as of the date of this press release and these views could change. However, while the Company may elect to update these forward-looking statements at some point in the future, the Company specifically disclaims any obligation to do so. These forward-looking statements should not be relied upon as representing the Company's views as of any date subsequent to the date of the press release.Such forward-looking statements are risks that are detailed in the Company's filings, which are on file atwww.OTCMarkets.com. Contact us [email protected] visithttp://www.bitcoincapitalcorp.com SOURCE:First Bitcoin Capital Corp. \|\| Kim Dotcom announces new Bitcoin venture for content uploaders to earn money: WELLINGTON (Reuters) - Controversial New Zealand-based internet mogul Kim Dotcom plans to launch a Bitcoin payments system for users to sell files and video streaming as he fights extradition to the United States for criminal copyright charges. The German-born entrepreneur, who is wanted by U.S. law enforcement on copyright and money laundering allegations related to his now-defunct streaming site Megaupload, announced his new venture called 'Bitcontent' in a video posted on Youtube this week. "You can create a payment for any content that you put on the internet...you can share that with your customers, with the interest community and, boom, you are basically in business and can sell your content," Dotcom said in the video. He added that Bitcontent would eventually allow businesses, such as news organizations, to earn money from their entire websites. He did not provide a launch date. Dotcom did not provide details on how Bitcontent would differ from existing Bitcoin operations or how it would help news organizations make money beyond existing subscription payment options. Bitcoin is a virtual currency that can be used to move money around the world quickly and with relative anonymity, without the need for a central authority, such as a bank or government. The currency's anonymity has however made it popular with drug dealers, money launderers and organized crime groups, meaning governments and the financial establishment have been slow to embrace it since the first trade in 2009. The currencys value hit record levels in 2017, trading at $1,145 on Wednesday, a fivefold increase in a year, amid growing interest globally. A New Zealand court ruled in February that Dotcom could be extradited to the United States to face charges relating to his Megaupload website, which was shutdown in 2012 following an FBI-ordered raid on his Auckland mansion, a decision he was appealing. Dotcom, who has New Zealand residency, became well known for his lavish lifestyle as much as his computer skills. He used to post photographs of himself with cars having vanity plates such as "GOD" and "GUILTY", shooting an assault rifle and flying around the world in his private jet. (Reporting by Charlotte Greenfield; Editing by Michael Perry) \|\| Kim Dotcom announces new Bitcoin venture for content uploaders to earn money: WELLINGTON (Reuters) - Controversial New Zealand-based internet mogul Kim Dotcom plans to launch a Bitcoin payments system for users to sell files and video streaming as he fights extradition to the United States for criminal copyright charges. The German-born entrepreneur, who is wanted by U.S. law enforcement on copyright and money laundering allegations related to his now-defunct streaming site Megaupload, announced his new venture called 'Bitcontent' in a video posted on Youtube this week. "You can create a payment for any content that you put on the internet...you can share that with your customers, with the interest community and, boom, you are basically in business and can sell your content," Dotcom said in the video. He added that Bitcontent would eventually allow businesses, such as news organizations, to earn money from their entire websites. He did not provide a launch date. Dotcom did not provide details on how Bitcontent would differ from existing Bitcoin operations or how it would help news organizations make money beyond existing subscription payment options. Bitcoin is a virtual currency that can be used to move money around the world quickly and with relative anonymity, without the need for a central authority, such as a bank or government. The currency's anonymity has however made it popular with drug dealers, money launderers and organized crime groups, meaning governments and the financial establishment have been slow to embrace it since the first trade in 2009. The currencys value hit record levels in 2017, trading at $1,145 on Wednesday, a fivefold increase in a year, amid growing interest globally. A New Zealand court ruled in February that Dotcom could be extradited to the United States to face charges relating to his Megaupload website, which was shutdown in 2012 following an FBI-ordered raid on his Auckland mansion, a decision he was appealing. Dotcom, who has New Zealand residency, became well known for his lavish lifestyle as much as his computer skills. He used to post photographs of himself with cars having vanity plates such as "GOD" and "GUILTY", shooting an assault rifle and flying around the world in his private jet. (Reporting by Charlotte Greenfield; Editing by Michael Perry) \|\| Kim Dotcom announces new Bitcoin venture for content uploaders to earn money: WELLINGTON (Reuters) - Controversial New Zealand-based internet mogul Kim Dotcom plans to launch a Bitcoin payments system for users to sell files and video streaming as he fights extradition to the United States for criminal copyright charges. The German-born entrepreneur, who is wanted by U.S. law enforcement on copyright and money laundering allegations related to his now-defunct streaming site Megaupload, announced his new venture called 'Bitcontent' in a video posted on Youtube this week. "You can create a payment for any content that you put on the internet...you can share that with your customers, with the interest community and, boom, you are basically in business and can sell your content," Dotcom said in the video. He added that Bitcontent would eventually allow businesses, such as news organizations, to earn money from their entire websites. He did not provide a launch date. Dotcom did not provide details on how Bitcontent would differ from existing Bitcoin operations or how it would help news organizations make money beyond existing subscription payment options. Bitcoin is a virtual currency that can be used to move money around the world quickly and with relative anonymity, without the need for a central authority, such as a bank or government. The currency's anonymity has however made it popular with drug dealers, money launderers and organized crime groups, meaning governments and the financial establishment have been slow to embrace it since the first trade in 2009. The currencys value hit record levels in 2017, trading at $1,145 on Wednesday, a fivefold increase in a year, amid growing interest globally. A New Zealand court ruled in February that Dotcom could be extradited to the United States to face charges relating to his Megaupload website, which was shutdown in 2012 following an FBI-ordered raid on his Auckland mansion, a decision he was appealing. Dotcom, who has New Zealand residency, became well known for his lavish lifestyle as much as his computer skills. He used to post photographs of himself with cars having vanity plates such as "GOD" and "GUILTY", shooting an assault rifle and flying around the world in his private jet. (Reporting by Charlotte Greenfield; Editing by Michael Perry) \|\| Jamaican Shamique Simms Is the New Caribbean's Next Top Model: MIAMI, FL--(Marketwired - Apr 4, 2017) - Shamique Simms is the Caribbean's Next Top Model (CaribeNTM) 2017. The finale of CaribeNTM took place on Monday April 3 rd and this year's competition ended in dramatic fashion, as two contestants tied for second place -- Samantha West from Trinidad and Nkechi Vaughn Guyana. It was, however, the 5 foot 9 Jamaican who won the judges over with her grace and natural beauty, as well as her ability to work the camera no matter the setting or theme. This season's competition was held against the backdrop of the enchanting 'spice isle' of Grenada, and whether she was covering herself with oil for the infamous ' jab jab' shoot or getting artistic in an underwater shoot , Simms' versatility and raw modelling talent led her to the top position. Along with the title of being the Caribbean's Next Top Model, Shamique was also awarded US$25,000 in cash; an international modelling agency contract with Mint Model Management, NY; a cover feature and editorial spread in SHE Caribbean magazine; and the latest generation iPhone from Flow . "Flow congratulates Shamique on her much deserved big win," said Wendy McDonald, Senior Director Communications, for the Caribbean. "Last year we welcomed the opportunity to partner with CaribeNTM as we saw this as a unique platform to provide exposure of young Caribbean talent both in front of and behind the camera. For us this is not just a competition but it is an investment in the development of the Caribbean fashion industry and our capacity to create local content that is on par with international standards. Additionally, it provides our viewers with unmatched access to local and regional content." The third season of The Caribbean's Next Top Model, presented by Flow , premiered on January 30 th exclusively on Flow 1 with 17 fresh-faced ladies from all across the Caribbean. This season, Flow customers were able to watch the drama unfold 'on the go' for the first time via the Flow ToGo app or watch and re-watch any episode via Flow On Demand , ensuring they never missed a moment of the excitement. Story continues Congratulating the winner, as well as each of the participants, the CaribeNTM co- executive producer, host, judge and former Miss Universe Wendy Fitzwilliam said: "Shamique competed amongst our toughest field of aspiring models yet, and always maintained her focus throughout the competition. More than any other participant, Shamique entered the competition with a clear understanding of what is required of her in the modelling industry. She consistently grew throughout the competition and it is this combination of preparedness and dogmatic perseverance with respect to her diet, fitness, mental strength and positive outlook that gave this "chocolate" beauty, as she was fondly called by her fellow models, the edge." While there is only one winner, Flow would like to congratulate all the participants and finalists of Season 3 of the Caribbean's Next Top Model. Editors' Note : Caribbean's Next Top Model (#CaribeNTM) is produced Starfish Media Ltd. and hosted by Miss Universe 1998, Wendy Fitzwilliam. It is a reality television competition based on the original production America's Next Top Model, and the America's Next Top Model format, created by Tyra Banks and licensed by CBS International. It follows the stories of aspiring young women seeking to launch a career in the competitive world of modelling. Fitzwilliam hosts Caribbean's Next Top Model as head judge, accompanied by judges: international photographer, Pedro Virgil and Caribbean fashion pundit extraordinaire, Socrates McKinney . For Season 3, CaribeNTM combed more than 30 Caribbean territories and narrowed more than two hundred (200) applicants down to seventeen (17). About C&W Communications C&W is a full service communications and entertainment provider and delivers market-leading video, broadband, telephony and mobile services to consumers in 18 countries. Through its business division, C&W provides data center hosting, domestic and international managed network services, and customized IT service solutions, utilizing cloud technology to serve business and government customers. C&W also operates a state-of-the-art submarine fiber network -- the most extensive in the region. Learn more at www.cwc.com , or follow C&W on LinkedIn , Facebook or Twitter . About Liberty Global Liberty Global is the world's largest international TV and broadband company, with operations in more than 30 countries across Europe, Latin America and the Caribbean. We invest in the infrastructure that empowers our customers to make the most of the digital revolution. Our scale and commitment to innovation enable us to develop market-leading products delivered through next generation networks that connect our 25 million customers who subscribe to over 50 million television, broadband internet and telephony services. We also serve over 10 million mobile subscribers and offer WiFi service across 5 million access points. Liberty Global's businesses are comprised of two stocks: the Liberty Global Group ( NASDAQ : LBTYA ) ( NASDAQ : LBTYB ) ( NASDAQ : LBTYK ) for our European operations, and the LiLAC Group ( NASDAQ : LILA ) and ( NASDAQ : LILAK ) ( OTC PINK : LILAB ), which consists of our operations in Latin America and the Caribbean. The Liberty Global Group operates in 11 European countries under the consumer brands Virgin Media, Unitymedia, Telenet and UPC. The Liberty Global Group also owns 50% of VodafoneZiggo, a Dutch joint venture, which has 4 million customers, 10 million fixed-line subscribers and 5 million mobile subscribers. The LiLAC Group operates in over 20 countries in Latin America and the Caribbean under the consumer brands VTR, Flow, Liberty, Más Móvil and BTC. In addition, the LiLAC Group operates a sub-sea fiber network throughout the region in over 30 markets. For more information, please visit www.libertyglobal.com . Image Available: http://www2.marketwire.com/mw/frame_mw?attachid=3126367 Image Available: http://www2.marketwire.com/mw/frame_mw?attachid=3126384 \|\| Jamaican Shamique Simms Is the New Caribbean's Next Top Model: MIAMI, FL--(Marketwired - Apr 4, 2017) - Shamique Simms is theCaribbean's Next Top Model(CaribeNTM) 2017. The finale of CaribeNTM took place on Monday April 3rdand this year's competition ended in dramatic fashion, as two contestants tied for second place -- Samantha West from Trinidad and Nkechi Vaughn Guyana. It was, however, the 5 foot 9 Jamaican who won the judges over with her grace and natural beauty, as well as her ability to work the camera no matter the setting or theme. This season's competition was held against the backdrop of the enchanting 'spice isle' of Grenada, and whether she was covering herself with oil for the infamous 'jab jab' shootor getting artistic in anunderwater shoot, Simms' versatility and raw modelling talent led her to the top position. Along with the title of being the Caribbean's Next Top Model, Shamique was also awarded US$25,000 in cash; an international modelling agency contract with Mint Model Management, NY; a cover feature and editorial spread in SHE Caribbean magazine; and the latest generation iPhone fromFlow. "Flow congratulates Shamique on her much deserved big win," said Wendy McDonald, Senior Director Communications, for the Caribbean. "Last year we welcomed the opportunity to partner with CaribeNTM as we saw this as a unique platform to provide exposure of young Caribbean talent both in front of and behind the camera. For us this is not just a competition but it is an investment in the development of the Caribbean fashion industry and our capacity to create local content that is on par with international standards. Additionally, it provides our viewers with unmatched access to local and regional content." The third season of The Caribbean's Next Top Model, presented byFlow, premiered on January 30thexclusively onFlow 1with 17 fresh-faced ladies from all across the Caribbean. This season, Flow customers were able to watch the drama unfold 'on the go' for the first time via theFlow ToGoapp or watch and re-watch any episode viaFlow On Demand, ensuring they never missed a moment of the excitement. Congratulating the winner, as well as each of the participants, the CaribeNTM co- executive producer, host, judge and former Miss Universe Wendy Fitzwilliam said: "Shamique competed amongst our toughest field of aspiring models yet, and always maintained her focus throughout the competition. More than any other participant, Shamique entered the competition with a clear understanding of what is required of her in the modelling industry. She consistently grew throughout the competition and it is this combination of preparedness and dogmatic perseverance with respect to her diet, fitness, mental strength and positive outlook that gave this "chocolate" beauty, as she was fondly called by her fellow models, the edge." While there is only one winner, Flow would like to congratulate all the participants and finalists of Season 3 of the Caribbean's Next Top Model. Editors' Note: Caribbean's Next Top Model (#CaribeNTM) is produced Starfish Media Ltd. and hosted by Miss Universe 1998,Wendy Fitzwilliam. Itis a reality television competition based on the original production America's Next Top Model, and the America's Next Top Model format, created by Tyra Banks and licensed by CBS International. It follows the stories of aspiring young women seeking to launch a career in the competitive world of modelling. Fitzwilliam hosts Caribbean's Next Top Model as head judge, accompanied by judges: international photographer,Pedro Virgiland Caribbean fashion pundit extraordinaire,Socrates McKinney. For Season 3, CaribeNTM combed more than 30 Caribbean territories and narrowed more than two hundred (200) applicants down to seventeen (17). About C&W Communications C&W is a full service communications and entertainment provider and delivers market-leading video, broadband, telephony and mobile services to consumers in 18 countries. Through its business division, C&W provides data center hosting, domestic and international managed network services, and customized IT service solutions, utilizing cloud technology to serve business and government customers. C&W also operates a state-of-the-art submarine fiber network -- the most extensive in the region. Learn more atwww.cwc.com, or follow C&W onLinkedIn,FacebookorTwitter. About Liberty Global Liberty Global is the world's largest international TV and broadband company, with operations in more than 30 countries across Europe, Latin America and the Caribbean. We invest in the infrastructure that empowers our customers to make the most of the digital revolution. Our scale and commitment to innovation enable us to develop market-leading products delivered through next generation networks that connect our 25 million customers who subscribe to over 50 million television, broadband internet and telephony services. We also serve over 10 million mobile subscribers and offer WiFi service across 5 million access points. Liberty Global's businesses are comprised of two stocks: the Liberty Global Group (NASDAQ:LBTYA) (NASDAQ:LBTYB) (NASDAQ:LBTYK) for our European operations, and the LiLAC Group (NASDAQ:LILA) and (NASDAQ:LILAK) (OTC PINK:LILAB), which consists of our operations in Latin America and the Caribbean. The Liberty Global Group operates in 11 European countries under the consumer brands Virgin Media, Unitymedia, Telenet and UPC. The Liberty Global Group also owns 50% of VodafoneZiggo, a Dutch joint venture, which has 4 million customers, 10 million fixed-line subscribers and 5 million mobile subscribers. The LiLAC Group operates in over 20 countries in Latin America and the Caribbean under the consumer brands VTR, Flow, Liberty, Más Móvil and BTC. In addition, the LiLAC Group operates a sub-sea fiber network throughout the region in over 30 markets. For more information, please visitwww.libertyglobal.com. Image Available:http://www2.marketwire.com/mw/frame_mw?attachid=3126367Image Available:http://www2.marketwire.com/mw/frame_mw?attachid=3126384 \|\| $BITCF's COINQX Publishes Frequently Asked Questions Regarding Its AltCoin (ALT) ICO Active Crowdsale: VANCOUVER, BC / ACCESSWIRE / April 3, 2017 /First Bitcoin Capital Corp (OTC PINK: BITCF) answers the below listed frequently asked questions in order to assist interested parties to better understand the nature and procedures to participate in its first Initial Coin Offering (ICO) sometimes also referenced to as an Initial Token Offering (ITO). The timing of our first ICO precedes the new game changing events in Japan. Bitcoin has now gained the recognition of a mainstream currency along the lines of the world's fiat currencies. The historic event follows the implementation of a new law in Japan which categorizes Bitcoin as a legal payment option within the country. The much-awaited law went into effect on the first day of April 2017. "The new law defines Bitcoin and other virtual currency as a form of payment method, not a legally-recognized currency.Bitcoinwill continue to be treated as an asset unless there are future revisions or directives to Japanese tax law." With the new law's implementation, Bitcoin exchanges will also come under additional regulatory scrutiny. The recognition of cryptocurrency as a legal tender also means the applicability of regulations governing banks and financial institutions to cryptocurrency exchange platforms. They will be required to comply with strict anti-money laundering (AML) and Know Your Customer (KYC) requirements, along with annual audits. Other requirements include meeting the stated capital and cyber security requirements to ensure consumer protection. The recognition of Bitcoin and other cryptocurrencies as legal payment instruments is good news for the global cryptocurrency ecosystem. Adoption of cryptocurrency is expected to increase among people, which will certainly, in turn, drive demand and price. First Bitcoin Capital Corp releases the following FAQ regarding its newest cryptocurrency, ALT: AltCoin FAQ Altcoin (ALT) gives you the joint benefits of open blockchaintechnologywhile speculating on the booming cryptocurrency markets by ALT being aptly named for best branding to capture maximum market share. How does AltCoin work and What are its Specs? AltCoin exists on The Bitcoin Blockchain through the Omni Protocol. The Omni Protocol is open source software that interfaces with blockchains to allow for the issuance and exchange of cryptocurrency tokens, in our case, "AltCoin". The AltCoin is being offered via an ICO purchasable via Tether (USDT) the most popular Omni protocol currency that trades on par with and is 100% backed by USD. The process of buying and transferring Tether will be more fully explained below with links to exchanges where available. For those unfamiliar with trading on crypto exchanges, GoCoin may be the most convenient solution to acquiring USDT with USD. How do I acquire AltCoin during the ICO? Once owning Tether in your private wallet and while the ICO is running you simply need to send from your Omni Wallet atomniwallet.org-Tether (USDT) to the AltCoin issuer address as follows: 1FwADyEvdvaLNxjN1v3q6tNJCgHEBuABrS Just copy and paste that address into the send to address and as long as the ICO is running the sender's Omni Wallet will automatically be credited with Altcoin (1 for 1 currently) plus a 20% bonus. This bonus will decease until the ICO is closed at which time post ICO received Tether will be manually returned to the sender if intended for the ICO. To check the current bonus percentages and verify that the ICO continues to be open, visit: https://www.omniwallet.org/assets/details/149 Can I acquire ALT outside the ICO? AltCoin has already begun trading on the Cryptopia Exchange where ALT trades in the secondary market. In other words, someone who bought in the ICO already sent some ALT to that exchange where those ALT now trade against Bitcoin (BTC). At time of this writing, the ALT is trading at a premium over the ICO. We expect ALT to be listed on many more exchanges as soon as the ICO is completed to be paired with many different fiat and cryptocurrencies. Can Omni Protocol coins already be traded against ALT? Tether has pathed the way, making it technologically simple for ALT to be traded and paired with USDT and other currencies on those exchanges already trading USDT. Markets can now be initiated and paired with ALT against other Omni protocol currencies such as OMNI, TESLA, PRES, HILL, USDT, GARY, BURN, BOND, XBU via:http://omnichest.info/mdexmarket.aspx?market=149. How Can I monitor ALT issuances to learn the total issued and what will be that total? It will not be known until the ICO is completed at the end of April 2017 how many AltCoins have been issued and that will depend on the popularity of this new coin. To monitor the total coins issued and transferred into the secondary markets, please see:http://omnichest.info/lookupsp.aspx?sp=149. In order to help find Altcoin (ALT) in the Omnichest numbering system search #149 while Tether (USDT) is searchable via #31. To monitor the Crowdsales of the ICO see Issuer's Omni Wallet here:http://omnichest.info/lookupadd.aspx?address=1FwADyEvdvaLNxjN1v3q6tNJCgHEBuABrS. Once the ICO is complete there will be no further ALT issued or created, meaning that the fewer the ICO buyers the more scarce the currency. Use of proceeds? The USDT proceeds received by the Issuer,www.Coinqx.com, a cryptocurrency exchange (where ALT will soon be listed) and a subsidiary ofFirst BitcoinCapital Corp (stock symbol BITCF) will be used to build outwww.Altcoinmarketcap.comwhere AltCoin (ALT) will be accepted so that owners of ALT will be able to use this new currency to advertise their goods and services. The USDT received will also be used for building walls of support in secondary trading of ALT and otherwise develop the issuer, its affiliates and for speculative trading in ALT and other cryptocurrencies. Should the proceeds not be sufficient to bringAltCoinMarketCap.cominto full production, the Issuer and its parent company are dedicated to utilizing other resources to turn this website into the go to place for all things cryptocurrency. We plan to roll outAltCoinMarketCap.combefore closing of this ICO. Why Does Issuer earn 10% of each Issuance of ALT? The 10% premium that the Issuer receives is earned in exchange for creating and issuing ALT and will be used and held for both short and long term capital gains. From our research, this is a very low amount and competitors often are more generous to themselves leaving a smaller percentage to be owned by the public. Is AltCoin a Security? ALT is not a security. The holders of AltCoin will be paid neither interest payments nor dividends nor will they own any property directly or indirectly in any asset or income source. ALT is merely a tokenized cryptocurrency not unlike Bitcoin. Each ALT acquired by speculators and end users will be the sole and separate personal property of the person or entity receiving ALT. What is the relationship between AltCoin and AltCoinMarketCap.com? While the intended use of ALT is as a forward-service receipt for ad-clicks purchased from AltCoinMarketCap.com based on the traffic that site may generate, it also may be used by holders in any legal transaction between willing participants. We estimate that the cpc for advertising on this new site will be low at first yet rise over time. Why will AltcoinMarketCap be a better Advertising Venue than, say, its obvious competitors CoinMarketCap.com or other sites? What these competitors lack is social activities and participation by the public. AltCoinMarketCap.com will engage the cryptocurrency enthusiasts allowing them to up vote and down vote coins based on their good and bad qualities as well as including social media attributes allowing interaction between those who login which will attract the public as they witness these events. The site name, data base and social interactions have been designed to place www.Altcoinmarket.com at the top of the search engines for key terms such as Altcoin, etc. How does Tether work? Tethers also exists on blockchains through the Omni Protocol. The Omni Protocol is open source software that interfaces with blockchains and allows for the issuance and redemption of cryptocurrency as managed tokens, in their case, "tethers". Tether Platform currencies are 100% backed by actual fiat currency assets in their reserve account. Tethers are redeemable and exchangeable pursuant to Tether Limited's terms of service. The conversion rate is 1 tether USD₮ equals 1 USD. The Tether Platform is fully reserved when the sum of all USDT in circulation is greater than or equal to the balance of fiat currency held in their reserve. Through its Transparency page, anyone can view both numbers in near real-time making Tether a stable and safe medium of exchange to acquire AltCoin in its ICO. For a more detailed technical explanation of how the Tether Platform works, please download the Tether white paper. What real-world currencies does Tether support? Tether initially supports US Dollars (USD), Euros (EUR), and soon Japanese Yen (JPY). Represented by ₮, tether platform currencies are denoted as USD₮, EUR₮, and JPY₮. Who can use Tether? Tether enables businesses - including exchanges, wallets, payment processors, financial services and ATMs - to easily use fiat currencies on blockchains. Some of the largest businesses in the digital currency ecosystem have integrated tether. ALT using this same technology, it is probable that AltCoins will likewise be integrated should they become a popular cryptocurrency. View current industry supporters. Individuals can also create a Tether wallet or use tether-enabled platforms to transact with tethers. How does Tether protect me from cryptocurrency volatility? Because they are anchored or 'tethered' to real-world currencies. However, ALT is only initially tied to Tether through the ICO, so that when the ICO closes ALT should witness wild fluctuation not unlike those experienced by BTC, ETH, XMR, DASH, etc. Due to the potential scarcity, dependent on ALT's ICO popularity, the fluctuations of ALT could be more dramatic but should eventually stabilize so it could be used in commerce. Tethers are new assets that move across the Bitcoin blockchain just as easily as other digital currencies. Tether currencies are not money, but are digital tokens formatted to work on blockchains. Tethers hold their value at 1:1 to the underlying assets with the typical price of one USD equal to one USDT on various exchanges. Rarely does USDT trade at a premium or discount from the USD, except on exchanges where trading is sporadic. How do I know my Tether is secure? Tether is built on top of the revolutionary and cryptographically secure open blockchain technology and adheres to strict security and global government laws and regulations. All tethers are pegged at one-to-one with matching fiat currency (e.g., 1 USD₮ = 1 USD) and are backed 100% by actual assets in the Tether master reserve account. As a fully transparent company, Tether.io publishes a real-time record of all value held and transferred in and out of their reserve account. Tethers can be securely stored, sent and received across the blockchain and are redeemable for cash (the underlying asset) pursuant to Tether Limited's terms of service. Where can I use Tether? Tether is currently in Beta although it has already ascended to one of the world's top cryptocurrencies with volume in the tens of millions daily. They want to make Tether usable anywhere, where you can use digital currencies and in many places where digital currencies are not currently accepted. AltCoin maybe the first ICO to accept USDT, and does so exclusively. Are Tether and ALT transparent? Yes. Both the ALT and USDT are built on the same platform, to be fully transparent always and is regularly audited. Unlike ALT and other cryptocurrencies very tether is backed 100% by its original currency. How much does Tether cost to use? Tether has almost zero conversion fees, charges no commissions and offers topmarketexchange rates. Sending between Tether.to wallets is always free. When sending from your Tether.to wallet to an external tether-enabled wallet, Tether.io says they will absorb all Blockchain fees. Fees occurred when sending tethers outside of their wallet are outside their control. Do I have to go through the KYC process? Going through the Tether "know your customer" (KYC) form and approval process is required to issue and redeem USD₮, EUR₮, and soon JPY₮, however this is not required to acquire USDT on many exchanges or to open an Omni Wallet where USDT and ALT may be received, sent and owned together and seen in the same wallet along with BTC and other Omni protocol assets. There is no KYC process for acquiring ALT using your USDT. In what countries and states does, Tether have limited functionality? Tether is committed to operating in a secure and transparent way, while adhering to all government compliance and regulations .For this reason Tether does not operate in countries and U.S. states that do not regulate virtual currencies. Current countries with limited functionality:Afghanistan, Albania, Algeria, Angola, Cambodia, Democratic People's Republic of Korea, Ecuador, Guyana, Indonesia, Iran, Iraq, Lao People's Democratic Republic, Myanmar, Namibia, Nicaragua, Pakistan, Papua New Guinea, Sudan, Syrian Arab Republic, Uganda, Yemen, Zimbabwe. Current U.S. states with limited functionality: Delaware, Georgia, Hawaii, Idaho, Kentucky, Ohio, Tennessee, Virginia, Washington, Wisconsin, Wyoming List of exchanges where Tether can be purchased: https://tether.to/why-use-tether/ Forward-Looking Statements Certain statements contained in this FAQ may constitute "forward-looking statements." Forward-looking statements provide current expectations of future events based on certain assumptions and include any statement that does not directly relate to any historical or current fact. Actual results may differ materially from those indicated by such forward-looking statements as a result of various important factors as may be disclosed in company's filings. In addition to these factors, actual future performance, outcomes, and results may differ materially because of more general factors including (without limitation) general industry and market conditions and growth rates, economic conditions, and governmental and public policy changes. The forward-looking statements included in this business plan represent the Company's views as of the date of this release and these views could change. However, while the Company may elect to update these forward-looking statements at some point in the future, the Company specifically disclaims any obligation to do so. These forward-looking statements should not be relied upon as representing the Company's views as of any date subsequent to the date of the release of this "FAQ". Such forward-looking statements are risks that are detailed in the Company's filings, which are on file atwww.OTCMarkets.com. The statements about Tether (USDT) are based on representation made by Tether and while we accept those statements as true, we cannot take responsibility for any loses that speculators and investors may incur (while buying, selling, trading or transferring Tether (USDT)) that is beyond our control. Our only responsibility is to deliver ALT against our receipt of USDT during the time the ALT ICO is running, and to return USDT to those whom inadvertently send USDT to us after the closing of the ICO. Contact us via:[email protected] visithttp://www.bitcoincapitalcorp.com SOURCE:First Bitcoin Capital Corp. \|\| Now I Get It: Bitcoin: Man, if anything needs the now I get it treatment, its Bitcoin . You hear about it all the time in financial and technical circles but most people really dont grasp it. Bitcoin is an alternative kind of currency. Its entirely digitaltheres no paper money, theres no coins, nothing physical, not even a plastic card for your wallet. Your bitcoins are stored on your computer or your phone. If your hard drive crashes without a backup, you lose your bitcoins. This arrangement has some stunning advantages over traditional currency or credit cards: Between buyer and seller, theres no bank or credit-card company involved, no middleman who can charge fees. The entire Bitcoin banking system is a global peer-to-peer network, running Bitcoin software. When you buy something from someone in another country, theres no waiting to convert currenciesand again, no fees. All transactions are essentially anonymous, which is super convenient if youre a drug dealer or arms dealer. Theres a whole lot of really cool, really complicated math involved in Bitcoin, designed to keep it secure and to prevent Bitcoin inflation. For example: the complete record of all Bitcoin transactionsa massive digital ledger called the blockchain is stored on all Bitcoin users computers, rather than being held by a central authority. Bitcoin was born in 2009, the proposal of an anonymously written white paper. Theres no government to decide when to print new money in this case, so new bitcoins are minedcreatedthrough a complex scheme you can read about here . In essence, anyone can create new bitcoins, but dont think youll get rich that way. The job requires massive, expensive, high-horsepower computers that must slog through gigantic calculations to mine new money. The complexity of the math involved is adjusted so that its just barely profitable to mine bitcoins, and so that only a few bitcoins come into existence every 10 minutes. This production will stop when there are 21 million bitcoins on earth, which is supposed to happen around 2140 . After thatthats all the bitcoins therell ever be. So how do you get bitcoins? Same way you get euros or yen or pesos: You buy it with traditional currency like dollars. You can use online exchanges like Bitstamp and Coinbase . At this writing, one bitcoin costs about $1,078. What to do with bitcoins When you get a Bitcoin addresssomething like an email addressyou also get a complex password known as a private key, which you need to access your stash. At that point, you can transfer money to other people by sending it to their Bitcoin addresses. Story continues You can also pay for goods and services at some merchants, like Subway and Xbox; theyre delighted when that happens, because they dont lose 3% of the transaction in credit-card fees. But in the big picture, the list of places that accept Bitcoin is fairly small. And you dont get any particular benefit by paying for something this way. Bitcoin as an investment The good news is that since Bitcoins creation eight years ago, its value has gone up by quite a bitfrom well under a penny to over $1,000 per bitcoin today. The bad news is that its value is incredibly volatile. Remember this past January, when it dropped by a fifth in a day? Good times. Should you dive in? So: Bitcoin is fascinating, but its not very useful, at least not to most people. Some people love it, for sure, like investors with a taste for risk, tech-savvy early adopters, technically-minded libertarians, and criminals. But keep in mind that there are lots of exciting ways to lose all your bitcoins. Like if your hard drive crashes without a backup, and you lose your private key. Or if you get a Bitcoin virus, of which there are now many . Or if your Bitcoin exchange goes out of business, which has happened plenty; in fact, 18 of the first 40 exchanges had gone under as of 2013, taking all their clients money with them. Remember, this whole thing is largely unregulated. If you buy something with a credit card and you get ripped off, you can call an 800 number and the credit-card company will get your money back. But if you get ripped off with a Bitcoin transaction sorry! You voted for no middleman, remember? In the meantime, for most people, Bitcoin is a fascinating development thats a worthy topic of studyjust not for ownership. More from David Pogue: The Fitbit Alta HR band is the least dorky fitness band you can buy David Pogues search for the worlds best air-travel app David Pogue tested 47 pill-reminder apps to find the best one The little-known iPhone feature that lets blind people see with their fingers I paid $3,000 for my MacBook Pro and got emotional whiplash Heres the real money-maker for the Internet of Things David Pogue, tech columnist for Yahoo Finance, welcomes non-toxic comments in the Comments below. On the web, hes davidpogue.com . On Twitter, hes @pogue . On email, hes [email protected]. You can read all his articles here , or you can sign up to get his columns by email . View comments \|\| Now I Get It: Bitcoin: Man, if anything needs the “now I get it” treatment, it’sBitcoin. You hear about it all the time infinancial and technical circles—but most people really don’t grasp it. Bitcoin is an alternative kind of currency. It’s entirely digital—there’s no paper money, there’s no coins, nothing physical, not even a plastic card for your wallet. Your bitcoins are stored on your computer or your phone. If your hard drive crashes without a backup, you lose your bitcoins. This arrangement has some stunning advantages over traditional currency or credit cards: • Between buyer and seller, there’s no bank or credit-card company involved, no middleman who can charge fees. The entire Bitcoin banking system is a global peer-to-peer network, running Bitcoin software. • When you buy something from someone in another country, there’s no waiting to convert currencies—and again, no fees. • All transactions areessentiallyanonymous, which is super convenient if you’re a drug dealer or arms dealer. There’s a whole lot of really cool, really complicated math involved in Bitcoin, designed to keep it secure and to prevent Bitcoin inflation. For example: the complete record of all Bitcoin transactions—a massive digital ledger called theblockchain—is stored on all Bitcoin users’ computers, rather than being held by a central authority. Bitcoin was born in 2009, the proposal of an anonymously written white paper. There’s no government to decide when to print new money in this case, so new bitcoins are “mined”—created—through a complex scheme you can read abouthere. In essence, anyone can create new bitcoins, but don’t think you’ll get rich that way. The job requires massive, expensive, high-horsepower computers that must slog through gigantic calculations to “mine” new money. The complexity of the math involved is adjusted so that it’s just barely profitable to mine bitcoins, and so that only a few bitcoins come into existence every 10 minutes. This production will stop when there are 21 million bitcoins on earth, which is supposed tohappen around 2140. After that—that’s all the bitcoins there’ll ever be. So how do you get bitcoins? Same way you get euros or yen or pesos: You buy it with traditional currency like dollars. You can use online exchanges likeBitstampandCoinbase. At this writing, one bitcoin costs about $1,078. When you get a Bitcoin address—something like an email address—you also get a complex password known as a private key, which you need to access your stash. At that point, you can transfer money to other people by sending it to their Bitcoin addresses. You can also pay for goods and services at some merchants, like Subway and Xbox; they’re delighted when that happens, because they don’t lose 3% of the transaction in credit-card fees. But in the big picture,the list of places that accept Bitcoinis fairly small. Andyoudon’t get any particular benefit by paying for something this way. The good news is that since Bitcoin’s creation eight years ago, its value has gone up by quite a bit—from well under a penny to over $1,000 per bitcoin today. The bad news is that its value is incredibly volatile. Remember this past January,when it dropped by a fifthin a day? Good times. So: Bitcoin is fascinating, but it’s not very useful, at least not to most people. Some people love it, for sure, like investors with a taste for risk, tech-savvy early adopters, technically-minded libertarians, and criminals. But keep in mind that there are lots of exciting ways to lose all your bitcoins. Like if your hard drive crashes without a backup, and you lose your private key. Or if you get a Bitcoin virus, of whichthere are now many. Or if your Bitcoin exchange goes out of business, which has happened plenty; in fact,18 of the first 40 exchanges had gone underas of 2013, taking all their clients’ money with them. Remember, this whole thing is largely unregulated. If you buy something with a credit card and you get ripped off, you can call an 800 number and the credit-card company will get your money back. But if you get ripped off with a Bitcoin transaction … sorry! You voted for no middleman, remember? In the meantime, for most people, Bitcoin is a fascinating development that’s a worthy topic of study—just not for ownership. More from David Pogue: The Fitbit Alta HR band is the least dorky fitness band you can buy David Pogue’s search for the world’s best air-travel app David Pogue tested 47 pill-reminder apps to find the best one The little-known iPhone feature that lets blind people see with their fingers I paid $3,000 for my MacBook Pro and got emotional whiplash Here’s the real money-maker for the Internet of Things David Pogue, tech columnist for Yahoo Finance, welcomes non-toxic comments in the Comments below. On the web, he’sdavidpogue.com. On Twitter, he’s@pogue. On email, he’s [email protected]. You canread all his articles here, or you can sign up toget his columns by email. \|\| Now I Get It: Bitcoin: Man, if anything needs the “now I get it” treatment, it’sBitcoin. You hear about it all the time infinancial and technical circles—but most people really don’t grasp it. Bitcoin is an alternative kind of currency. It’s entirely digital—there’s no paper money, there’s no coins, nothing physical, not even a plastic card for your wallet. Your bitcoins are stored on your computer or your phone. If your hard drive crashes without a backup, you lose your bitcoins. This arrangement has some stunning advantages over traditional currency or credit cards: • Between buyer and seller, there’s no bank or credit-card company involved, no middleman who can charge fees. The entire Bitcoin banking system is a global peer-to-peer network, running Bitcoin software. • When you buy something from someone in another country, there’s no waiting to convert currencies—and again, no fees. • All transactions areessentiallyanonymous, which is super convenient if you’re a drug dealer or arms dealer. There’s a whole lot of really cool, really complicated math involved in Bitcoin, designed to keep it secure and to prevent Bitcoin inflation. For example: the complete record of all Bitcoin transactions—a massive digital ledger called theblockchain—is stored on all Bitcoin users’ computers, rather than being held by a central authority. Bitcoin was born in 2009, the proposal of an anonymously written white paper. There’s no government to decide when to print new money in this case, so new bitcoins are “mined”—created—through a complex scheme you can read abouthere. In essence, anyone can create new bitcoins, but don’t think you’ll get rich that way. The job requires massive, expensive, high-horsepower computers that must slog through gigantic calculations to “mine” new money. The complexity of the math involved is adjusted so that it’s just barely profitable to mine bitcoins, and so that only a few bitcoins come into existence every 10 minutes. This production will stop when there are 21 million bitcoins on earth, which is supposed tohappen around 2140. After that—that’s all the bitcoins there’ll ever be. So how do you get bitcoins? Same way you get euros or yen or pesos: You buy it with traditional currency like dollars. You can use online exchanges likeBitstampandCoinbase. At this writing, one bitcoin costs about $1,078. When you get a Bitcoin address—something like an email address—you also get a complex password known as a private key, which you need to access your stash. At that point, you can transfer money to other people by sending it to their Bitcoin addresses. You can also pay for goods and services at some merchants, like Subway and Xbox; they’re delighted when that happens, because they don’t lose 3% of the transaction in credit-card fees. But in the big picture,the list of places that accept Bitcoinis fairly small. Andyoudon’t get any particular benefit by paying for something this way. The good news is that since Bitcoin’s creation eight years ago, its value has gone up by quite a bit—from well under a penny to over $1,000 per bitcoin today. The bad news is that its value is incredibly volatile. Remember this past January,when it dropped by a fifthin a day? Good times. So: Bitcoin is fascinating, but it’s not very useful, at least not to most people. Some people love it, for sure, like investors with a taste for risk, tech-savvy early adopters, technically-minded libertarians, and criminals. But keep in mind that there are lots of exciting ways to lose all your bitcoins. Like if your hard drive crashes without a backup, and you lose your private key. Or if you get a Bitcoin virus, of whichthere are now many. Or if your Bitcoin exchange goes out of business, which has happened plenty; in fact,18 of the first 40 exchanges had gone underas of 2013, taking all their clients’ money with them. Remember, this whole thing is largely unregulated. If you buy something with a credit card and you get ripped off, you can call an 800 number and the credit-card company will get your money back. But if you get ripped off with a Bitcoin transaction … sorry! You voted for no middleman, remember? In the meantime, for most people, Bitcoin is a fascinating development that’s a worthy topic of study—just not for ownership. More from David Pogue: The Fitbit Alta HR band is the least dorky fitness band you can buy David Pogue’s search for the world’s best air-travel app David Pogue tested 47 pill-reminder apps to find the best one The little-known iPhone feature that lets blind people see with their fingers I paid $3,000 for my MacBook Pro and got emotional whiplash Here’s the real money-maker for the Internet of Things David Pogue, tech columnist for Yahoo Finance, welcomes non-toxic comments in the Comments below. On the web, he’sdavidpogue.com. On Twitter, he’s@pogue. On email, he’s [email protected]. You canread all his articles here, or you can sign up toget his columns by email. \|\| What You Must Know Before Subscribing to a VPN: When the U.S. Congress voted recently to overturn a Federal Communications Commission (FCC) rule requiring internet service providers (ISPs) to get a customer's permission before selling personally identifiable information, that kicked off a land rush to find virtual private network (VPN) providers to protect consumers' online privacy. There are literally hundreds of VPNs to choose from, however, and if you're not sure what these do and what they don't do, you could easily end up with a VPN that doesn't add much to your privacy except another subscription fee. The idea of a VPN is quite simple: it provides a secure (encrypted) tunnel between your device and a website, bypassing the traffic logs kept by your ISP. For example, if your ISP is in New York City, a VPN service allows you to connect with any of several servers anywhere in the world, making it look to the website that the connection is being made from one of those servers and not the ISP you use in New York. ALSO READ: Nearly 400 2017 Data Breaches Have Exposed More Than 7 Million Records Your ISP can't keep a useful log of your VPN activity because it doesn't know who requested the data or from where the requested data is coming. But your VPN knows, and that's the first thing you want to learn about any VPN provider: does the VPN keep traffic logs and, if so, what does it do with them? Some VPNs do keep traffic logs in order to provide themselves with legal protection in the event of a government request. Others keep some minimal data in order to help maintain their servers. Still others, sadly, collect the data and sell it to third parties. Because that's what you are probably trying to avoid, read the fine print and be sure to choose a service that states categorically that it does not keep logs, making sure to specify exactly the logs they don't keep. Be especially sure that the ISP does not keep activity or connection logs. ALSO READ: 14 Million Credentials Stolen from US Universities for Sale on Dark Web Story continues A good general overview of online privacy and VPNs is posted at Krebs on Security. More comprehensive tips on selecting a VPN, with more details and a comparison chart for nearly 200 VPN providers is available at That One Privacy Site. Here's a much shorter version of some of the site's guidelines: Beware of VPN review websites, which are nearly always paid reviews. Also look more carefully at affiliate VPN programs. Be aware of where the VPN service's servers are located and where in the world you will be connecting to the VPN. Check on payment methods, such as Bitcoin, cash or anonymous gift cards, that allow you to maintain your privacy. Choose a VPN that maintains its own first-party domain name server (DNS) that doesn't leak, and check it to make sure. Choose a VPN that provides an IPv6 DNS server that is only reachable through a VPN tunnel, and then test it to make sure that's true. Choose a VPN that has strong data and handshake encryption. Deciding if you want a VPN and the features of the VPN that are most important to you will take some time, and it will come with a price of around $10 a month. It's up to you to make sure you're getting the privacy protection you're paying for. Related Articles Countries Buying the Most Weapons From the US Government States Where the Most People Have Green Cards America's Happiest (and Most Miserable) States \|\| What You Must Know Before Subscribing to a VPN: When the U.S. Congress voted recently to overturn a Federal Communications Commission (FCC) rule requiring internet service providers (ISPs) to get a customer's permission before selling personally identifiable information, that kicked off a land rush to find virtual private network (VPN) providers to protect consumers' online privacy. There are literally hundreds of VPNs to choose from, however, and if you're not sure what these do and what they don't do, you could easily end up with a VPN that doesn't add much to your privacy except another subscription fee. The idea of a VPN is quite simple: it provides a secure (encrypted) tunnel between your device and a website, bypassing the traffic logs kept by your ISP. For example, if your ISP is in New York City, a VPN service allows you to connect with any of several servers anywhere in the world, making it look to the website that the connection is being made from one of those servers and not the ISP you use in New York. ALSO READ:Nearly 400 2017 Data Breaches Have Exposed More Than 7 Million Records Your ISP can't keep a useful log of your VPN activity because it doesn't know who requested the data or from where the requested data is coming. But your VPN knows, and that's the first thing you want to learn about any VPN provider: does the VPN keep traffic logs and, if so, what does it do with them? Some VPNs do keep traffic logs in order to provide themselves with legal protection in the event of a government request. Others keep some minimal data in order to help maintain their servers. Still others, sadly, collect the data and sell it to third parties. Because that's what you are probably trying to avoid, read the fine print and be sure to choose a service that states categorically that it does not keep logs, making sure to specify exactly the logs they don't keep. Be especially sure that the ISP does not keep activity or connection logs. ALSO READ:14 Million Credentials Stolen from US Universities for Sale on Dark Web A good general overview of online privacy and VPNs is posted at Krebs on Security. More comprehensive tips on selecting a VPN, with more details and a comparison chart for nearly 200 VPN providers is available at That One Privacy Site. Here's a much shorter version of some of the site's guidelines: • Beware of VPN review websites, which are nearly always paid reviews. Also look more carefully at affiliate VPN programs. • Be aware of where the VPN service's servers are located and where in the world you will be connecting to the VPN. • Check on payment methods, such as Bitcoin, cash or anonymous gift cards, that allow you to maintain your privacy. • Choose a VPN that maintains its own first-party domain name server (DNS) that doesn't leak, and check it to make sure. • Choose a VPN that provides an IPv6 DNS server that is only reachable through a VPN tunnel, and then test it to make sure that's true. • Choose a VPN that has strong data and handshake encryption. Deciding if you want a VPN and the features of the VPN that are most important to you will take some time, and it will come with a price of around $10 a month. It's up to you to make sure you're getting the privacy protection you're paying for. Related Articles • Countries Buying the Most Weapons From the US Government • States Where the Most People Have Green Cards • America's Happiest (and Most Miserable) States [Social Media Buzz] $1188.12 at 22:30 UTC [24h Range: $1176.00 - $1202.00 Volume: 5661 BTC] \|\| $1191.95 at 13:45 UTC [24h Range: $1161.04 - $1202.00 Volume: 6916 BTC] \|\| Current value of DOGE in BTC: Vircurex: 0.0000004 -- Volume: 249144.63 Today's trend: stable at 04/07/17 00:55 \|\| One Bitcoin now worth $1188.12@bitstamp. High $1202.00. Low $1176.00. Market Cap $19.318 Billion #bitcoin \|\| #Forex Midday update for bitcoin 07-04-2017: Bitcoin price settles above 1169.00 level, and the price… http://dlvr.it/NqbKfX #...	1175.95, 1187.87, 1187.13, 1205.01, 1200.37, 1169.28, 1167.54, 1172.52, 1182.94, 1193.91
Given the historical Bitcoin prices from the last 90 days, predict the next 10 daily closing prices. The historical prices are: 293.11, 310.87, 292.05, 287.46, 285.83, 278.09, 279.47, 274.90, 273.61, 278.98, 275.83, 277.22, 276.05, 288.28, 288.70, 292.69, 293.62, 294.43, 289.59, 287.72, 284.65, 281.60, 282.61, 281.23, 285.22, 281.88, 278.58, 279.58, 261.00, 265.08, 264.47, 270.39, 266.38, 264.08, 265.68, 261.55, 258.51, 257.98, 211.08, 226.68, 235.35, 232.57, 230.39, 228.17, 210.49, 221.61, 225.83, 224.77, 231.40, 229.78, 228.76, 230.06, 228.12, 229.28, 227.18, 230.30, 235.02, 239.84, 239.85, 243.61, 238.17, 238.48, 240.11, 235.23, 230.51, 230.64, 230.30, 229.09, 229.81, 232.98, 231.49, 231.21, 227.09, 230.62, 230.28, 234.53, 235.14, 234.34, 232.76, 239.14, 236.69, 236.06, 237.55, 237.29, 238.73, 238.26, 240.38, 246.06, 242.97, 242.30.	[Bitcoin Technical Analysis for 2015-10-08] Volume: 18515300, RSI (14-day): 57.90, 50-day EMA: 239.41, 200-day EMA: 250.50 [Wider Market Context] Gold Price: 1144.70, Gold RSI: 56.52 Oil Price: 49.43, Oil RSI: 61.77 [Recent News (last 7 days)] Cable & Wireless Communications Scores With Exclusive Premier League Football Rights From Seasons 2016/17 to 2018/19: MIAMI, FL--(Marketwired - Oct 7, 2015) - Starting next season, the Premier League will have a new home in the Caribbean. Cable & Wireless Communications Plc (CWC) today announced that it has won the exclusive rights to broadcast live all 380 matches per season of the Premier League across 32 Caribbean countries from 2016/17 to 2018/19. Commencing in August 2016, the Premier League will be available on the Caribbean's newest sports network --Flow Sports.CWC was also awarded the mobile clip rights, allowing fans to follow the latest goals and action from the world's best football league on any mobile device. The extensive coverage of live Premier League matches will form the centerpiece of Flow Sports' programming schedule. The network will be launched in November 2015, with content that includes coverage of international and regional football, cricket, rugby, tennis and athletics, as well as CWC's exclusive NFL and Rio 2016 Olympics coverage. Flow Sports will broadcast across the region from a new 4-K-ready, state-of-the-art facility in Trinidad, offering 24/7 sports coverage in HD. Commenting on the exclusive rights award, John Reid, President of CWC's Consumer Division said: "We are thrilled to partner with the Premier League across the Caribbean. As the most popular league of the world's greatest sport, the Premier League will be at the heart of Flow Sports, the region's newest and largest sports network. We are excited as well to bring additional jobs, skills and investment into the Caribbean with our new Trinidad facility, truly showcasing the power of the new Cable & Wireless and our commitment to the region." CWC's market research has shown that sports programming is a key decision driver for customers purchasing TV and broadband packages. Approximately 70% of customers identify as being 'sports fans,' with the Premier League dominating sports viewing in the Caribbean. Reid added: "As the region's leading quad play operator, we look forward to bringing Caribbean sports fans closer to the action with our innovations in mobile and online viewing. With our Flow ToGo application and access to mobile clips, fans won't miss any of the excitement that truly defines this tremendous sports asset. Flow Sports will be available in our basic subscription package, meaning more games for more fans, and instantly positioning Flow as the home of sports in the Caribbean." Phil Bentley, Chief Executive of Cable & Wireless Communications said: "Following our merger with Columbus and our re-branding to Flow, the agreement with the Premier League is yet another example of the growing momentum building across the Caribbean, delivering significant additional revenue synergies through cross-selling and upselling, as well as improving customer loyalty. This is set to accelerate over the next few years." Richard Scudamore, Chief Executive of the Premier League said: "We are very pleased that Cable & Wireless Communications has chosen to invest in Premier League broadcasting rights in the Caribbean. "We look forward to welcoming them as a new partner and are sure they will do excellent job making the competition available to fans across the region." About Cable & Wireless Communications: Cable & Wireless Communications Plc (CWC) is a full service communications and entertainment provider, operating in the Caribbean and Latin America. With annual sales of over $2.4bn, it operates both mobile and fixed networks, supported by submarine and terrestrial optical fibre backhaul capacity. Through the acquisition of Columbus International Inc. on 31 March 2015, CWC now delivers superior high-speed mobile data, broadband and video services. It has leading market positions in Mobile, Fixed Line, Broadband and Video consumer offers. Through its business division, CWC provides data centre hosting, domestic and international managed network services, and customized IT service solutions, utilizing cloud technology to serve business and government customers. The company also operates a state-of-the-art subsea fibre optic cable network that spans more than 42,000 km -- the most extensive in the region -- as well as 38,000 km of terrestrial fibre providing wholesale and carrier backhaul capacity. CWC has more than 7,000 employees serving over 6 million customers (Mobile 3.8m; Fixed Line 1.1m; TV 460k and Broadband 665k) as well as over 125k corporate clients across 42 countries. The Company's leading brands include; LIME and Flow in the Caribbean; BTC in The Bahamas; Mas Movil in Panama; C&W Business and C&W Networks. CWC is the market leader in most products offered and territories served. It is a major contributor to local communities through its corporate social responsibility programmes. Cable & Wireless Communications' shares are quoted on the London Stock Exchange under the ticker CWC. The company is headquartered in London with its operational hub located in Miami, within close proximity to the Caribbean and Latin America. For more information please visit:http://www.cwc.com About the Premier League: The Barclays Premier League is the most-watched, continuous, annual sporting event in the world. Last season 13.9 million fans attended matches with record average stadium occupancy of 95.9%. Across nine months of the year, 380 matches are viewed in 185 countries with coverage available in over 725 million households. \|\| Cable & Wireless Communications Scores With Exclusive Premier League Football Rights From Seasons 2016/17 to 2018/19: MIAMI, FL--(Marketwired - Oct 7, 2015) - Starting next season, the Premier League will have a new home in the Caribbean. Cable & Wireless Communications Plc (CWC) today announced that it has won the exclusive rights to broadcast live all 380 matches per season of the Premier League across 32 Caribbean countries from 2016/17 to 2018/19. Commencing in August 2016, the Premier League will be available on the Caribbean's newest sports network -- Flow Sports . CWC was also awarded the mobile clip rights, allowing fans to follow the latest goals and action from the world's best football league on any mobile device. The extensive coverage of live Premier League matches will form the centerpiece of Flow Sports' programming schedule. The network will be launched in November 2015, with content that includes coverage of international and regional football, cricket, rugby, tennis and athletics, as well as CWC's exclusive NFL and Rio 2016 Olympics coverage. Flow Sports will broadcast across the region from a new 4-K-ready, state-of-the-art facility in Trinidad, offering 24/7 sports coverage in HD. Commenting on the exclusive rights award, John Reid, President of CWC's Consumer Division said: "We are thrilled to partner with the Premier League across the Caribbean. As the most popular league of the world's greatest sport, the Premier League will be at the heart of Flow Sports, the region's newest and largest sports network. We are excited as well to bring additional jobs, skills and investment into the Caribbean with our new Trinidad facility, truly showcasing the power of the new Cable & Wireless and our commitment to the region." CWC's market research has shown that sports programming is a key decision driver for customers purchasing TV and broadband packages. Approximately 70% of customers identify as being 'sports fans,' with the Premier League dominating sports viewing in the Caribbean. Reid added: "As the region's leading quad play operator, we look forward to bringing Caribbean sports fans closer to the action with our innovations in mobile and online viewing. With our Flow ToGo application and access to mobile clips, fans won't miss any of the excitement that truly defines this tremendous sports asset. Flow Sports will be available in our basic subscription package, meaning more games for more fans, and instantly positioning Flow as the home of sports in the Caribbean." Story continues Phil Bentley, Chief Executive of Cable & Wireless Communications said: "Following our merger with Columbus and our re-branding to Flow, the agreement with the Premier League is yet another example of the growing momentum building across the Caribbean, delivering significant additional revenue synergies through cross-selling and upselling, as well as improving customer loyalty. This is set to accelerate over the next few years." Richard Scudamore, Chief Executive of the Premier League said: "We are very pleased that Cable & Wireless Communications has chosen to invest in Premier League broadcasting rights in the Caribbean. "We look forward to welcoming them as a new partner and are sure they will do excellent job making the competition available to fans across the region." About Cable & Wireless Communications: Cable & Wireless Communications Plc (CWC) is a full service communications and entertainment provider, operating in the Caribbean and Latin America. With annual sales of over $2.4bn, it operates both mobile and fixed networks, supported by submarine and terrestrial optical fibre backhaul capacity. Through the acquisition of Columbus International Inc. on 31 March 2015, CWC now delivers superior high-speed mobile data, broadband and video services. It has leading market positions in Mobile, Fixed Line, Broadband and Video consumer offers. Through its business division, CWC provides data centre hosting, domestic and international managed network services, and customized IT service solutions, utilizing cloud technology to serve business and government customers. The company also operates a state-of-the-art subsea fibre optic cable network that spans more than 42,000 km -- the most extensive in the region -- as well as 38,000 km of terrestrial fibre providing wholesale and carrier backhaul capacity. CWC has more than 7,000 employees serving over 6 million customers (Mobile 3.8m; Fixed Line 1.1m; TV 460k and Broadband 665k) as well as over 125k corporate clients across 42 countries. The Company's leading brands include; LIME and Flow in the Caribbean; BTC in The Bahamas; Mas Movil in Panama; C&W Business and C&W Networks. CWC is the market leader in most products offered and territories served. It is a major contributor to local communities through its corporate social responsibility programmes. Cable & Wireless Communications' shares are quoted on the London Stock Exchange under the ticker CWC. The company is headquartered in London with its operational hub located in Miami, within close proximity to the Caribbean and Latin America. For more information please visit: http://www.cwc.com About the Premier League: The Barclays Premier League is the most-watched, continuous, annual sporting event in the world. Last season 13.9 million fans attended matches with record average stadium occupancy of 95.9%. Across nine months of the year, 380 matches are viewed in 185 countries with coverage available in over 725 million households. \|\| Bitcoin May Be Flailing, But Blockchain Is On The Rise: Bitcoin has suffered from several high-profile scandals which have branded the cryptocurrency as a tool for criminals and given the public reason to question its safety. However, blockchain, the ledger-like technology that bitcoin runs on, has been touted as one of the most important technological advances of the past decade. Many believe that although bitcoin may eventually die out, blockchain will continue to gain support as more and more industries find use for the technology. Blockchain Not Bitcoin On Tuesday at Bloomberg Markets Most Influential Summit, blockchainreceived a nodfrom Blythe Masters, the CEO of Digital Asset Holdings. Masters remarked that while bitcoin was of no interest to her, blockchain had the potential to transform the finance space. Blockchain has been suggested as a way to revamp financial markets and make transactions faster and more streamlined, something Masters says is an important trend to watch. Related Link:Charlie Shrem Weighs In On Bitcoin From His Prison Cell Support From The Finance Industry Masters isn't alone in thinking blockchain has potential, a recent survey by Greenwich Associates showed that the majority of finance professionals agree. When asked whether blockchain can continue to thrive without bitcoin, 73 percent of the 55 participants said "yes." That attitude suggests that although bitcoin is struggling to gain mainstream approval, blockchain is already being considered a viable option for finance firms looking to improve their operations. Several Applications While financial markets have been at the forefront of discussions about the use of blockchain, other industries also see the technology as a potential game-changer. Blockchain would be able to facilitate online auctions as well as create smart contracts, something that could be applicable in several sectors. See more from Benzinga • Fuel Surcharges Give E-Commerce Firms More Reason To Be Creative About Logistics • Tech Firms Caught Between Privacy And Law Enforcement • Gemini Prepares To Open Its Doors © 2015 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. \|\| Bitcoin May Be Flailing, But Blockchain Is On The Rise: Bitcoin has suffered from several high-profile scandals which have branded the cryptocurrency as a tool for criminals and given the public reason to question its safety. However, blockchain, the ledger-like technology that bitcoin runs on, has been touted as one of the most important technological advances of the past decade. Many believe that although bitcoin may eventually die out, blockchain will continue to gain support as more and more industries find use for the technology. Blockchain Not Bitcoin On Tuesday at Bloomberg Markets Most Influential Summit, blockchainreceived a nodfrom Blythe Masters, the CEO of Digital Asset Holdings. Masters remarked that while bitcoin was of no interest to her, blockchain had the potential to transform the finance space. Blockchain has been suggested as a way to revamp financial markets and make transactions faster and more streamlined, something Masters says is an important trend to watch. Related Link:Charlie Shrem Weighs In On Bitcoin From His Prison Cell Support From The Finance Industry Masters isn't alone in thinking blockchain has potential, a recent survey by Greenwich Associates showed that the majority of finance professionals agree. When asked whether blockchain can continue to thrive without bitcoin, 73 percent of the 55 participants said "yes." That attitude suggests that although bitcoin is struggling to gain mainstream approval, blockchain is already being considered a viable option for finance firms looking to improve their operations. Several Applications While financial markets have been at the forefront of discussions about the use of blockchain, other industries also see the technology as a potential game-changer. Blockchain would be able to facilitate online auctions as well as create smart contracts, something that could be applicable in several sectors. See more from Benzinga • Fuel Surcharges Give E-Commerce Firms More Reason To Be Creative About Logistics • Tech Firms Caught Between Privacy And Law Enforcement • Gemini Prepares To Open Its Doors © 2015 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. \|\| Bitcoin May Be Flailing, But Blockchain Is On The Rise: Bitcoin has suffered from several high-profile scandals which have branded the cryptocurrency as a tool for criminals and given the public reason to question its safety. However, blockchain, the ledger-like technology that bitcoin runs on, has been touted as one of the most important technological advances of the past decade. Many believe that although bitcoin may eventually die out, blockchain will continue to gain support as more and more industries find use for the technology. Blockchain Not Bitcoin On Tuesday at Bloomberg Markets Most Influential Summit, blockchain received a nod from Blythe Masters, the CEO of Digital Asset Holdings. Masters remarked that while bitcoin was of no interest to her, blockchain had the potential to transform the finance space. Blockchain has been suggested as a way to revamp financial markets and make transactions faster and more streamlined, something Masters says is an important trend to watch. Related Link: Charlie Shrem Weighs In On Bitcoin From His Prison Cell Support From The Finance Industry Masters isn't alone in thinking blockchain has potential, a recent survey by Greenwich Associates showed that the majority of finance professionals agree. When asked whether blockchain can continue to thrive without bitcoin, 73 percent of the 55 participants said "yes." That attitude suggests that although bitcoin is struggling to gain mainstream approval, blockchain is already being considered a viable option for finance firms looking to improve their operations. Several Applications While financial markets have been at the forefront of discussions about the use of blockchain, other industries also see the technology as a potential game-changer. Blockchain would be able to facilitate online auctions as well as create smart contracts, something that could be applicable in several sectors. See more from Benzinga Fuel Surcharges Give E-Commerce Firms More Reason To Be Creative About Logistics Tech Firms Caught Between Privacy And Law Enforcement Gemini Prepares To Open Its Doors © 2015 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. View comments \|\| Ripple Adds Santander InnoVentures Fund as Series A Investor: SAN FRANCISCO, CA--(Marketwired - Oct 6, 2015) -Ripple, provider of global financial settlement technology (formerly known as Ripple Labs), today announced thatSantander InnoVentures--Santander Group's $100 million fintech venture capital fund -- has joined itsrecent Series A funding roundas an investor, bringing the round's total to $32 million. Ripple's Series A funding round included a mix of traditional investment firms and global strategic investors that all support the vision for Ripple to enable an Internet of Value (IoV) by powering the real-time, secure settlement of funds for financial institutions and their customers worldwide. "Santander InnoVentures is a natural fit in this round because of their demonstrated support for real-time international payments and their commitment to new technologies that enable Santander to empower its customers," said Ripple CEO and co-founder Chris Larsen. "We are excited to work closely with them in building the Internet of Value and accelerating adoption amongst financial institutions, market makers and businesses worldwide." The Santander InnoVentures fund is an investment vehicle designed to partner with portfolio companies and explore new technologies that can be used in support of Santander's customer base. "Santander has long been an advocate for modernizing banking infrastructure," said Mariano Belinky, Managing Partner of Santander InnoVentures. "In our recentFintech 2.0 report, we highlighted the $20 billion opportunity available to the financial services industry, and many of the scenarios where distributed ledger technology will have a positive impact." Belinky added: "We believe Ripple possesses the talent, technology, and momentum to address many of these scenarios, and are actively exploring where and how best to apply Ripple technology inside the bank. Ripple and Santander share a common vision of the future of the industry, and we intend to jointly advocate it in the community." Other investors in Ripple's Series A round includeIDG Capital Partners, the venture arms ofCME Groupand global data storage companySeagate Technology, Jerry Yang'sAME Cloud Ventures,ChinaRock Capital Management,China Growth Capital, Wicklow Capital, the investment vehicle for Dan Tierney and Stephen Schuler, co-founders of GETCO (now KCG),Bitcoin Opportunity Corp.,Core Innovation Capital,Route 66 Ventures,RRE Ventures,Vast Ventures, andVenture 51. Ripple provides bank-grade solutions that enable the world's disparate financial networks to securely transfer funds in any currency in real time. Financial institutions use Ripple as an alternative to correspondent banking to facilitate real-time, certain settlement at the lowest total cost possible. Ripple was created to enable the world to move value as easily as information moves today, giving rise to an Internet of Value (IoV) akin to today's Internet of Knowledge. For more information about Ripple, please visithttp://www.ripple.com. About Ripple Rippleprovides global financial settlement solutions to ultimately enable the world to exchange value like it already exchanges information - giving rise to an Internet of Value (IoV). Ripple solutions lower the total cost of settlement by enabling banks to transact directly, without correspondent banks, and with real-time certainty of settlement. Banks around the world are partnering with Ripple to improve their cross-border payment offerings, and to join the growing, global network of financial institutions and market makers laying the foundation for the Internet of Value. Ripple is a venture-backed startup with offices in San Francisco, New York and Sydney. As an industry advocate for the Internet of Value, Ripple sits on theFederal Reserve's Faster Payments Task Force Steering Committeeand is a member of theW3C's Web Payments Interest Group. About Santander InnoVentures Launched in July 2014 with a global remit to invest in transformational fintech business, Santander InnoVentures is based in London. The fund builds on the bank's philosophy of collaboration and partnership with small and start-up companies. Santander InnoVentures provides fintech companies with growth finance, industry expertise and access to Santander's internal technology and operations organisations. Through this hybrid approach to investing, Santander Group ensures continuous innovation within its own business to the benefit of customers around the world, as well as helping new fintech businesses to succeed. Santander InnoVentures focuses on working with fintech businesses operating within digital delivery of financial services, e-commerce and payments, online lending, e-financial investments, big data and analytics. The Fintech 2.0 Paper is a call to action for both banks and fintechs to consider the multi-billion dollar opportunities available through partnership. Download the full paper, exploring these opportunities in-depth and identifying specific use-cases, here:www.santanderinnoventures.com/fintech2 For more information, visitwww.santanderinnoventures.com. Follow Santander InnoVentures on Twitter:@SanInnoventures. Banco Santander(SAN.MC, STD.N, BNC.LN) is a leading retail and commercial bank, based in Spain, with a meaningful market share in 10 core countries in Europe and the Americas. Santander is the largest bank in the euro zone by market capitalization and among the top 12 banks on a global basis. Founded in 1857, Santander had EUR 1.51 trillion in managed funds, 12,910 branches and 190,000 employees at the close of June 2015. In the first half of 2015, Santander made ordinary attributable profit of EUR 3,426 million, a 24% increase. \|\| Ripple Adds Santander InnoVentures Fund as Series A Investor: SAN FRANCISCO, CA--(Marketwired - Oct 6, 2015) - Ripple , provider of global financial settlement technology ( formerly known as Ripple Labs ), today announced that Santander InnoVentures -- Santander Group 's $100 million fintech venture capital fund -- has joined its recent Series A funding round as an investor, bringing the round's total to $32 million. Ripple's Series A funding round included a mix of traditional investment firms and global strategic investors that all support the vision for Ripple to enable an Internet of Value (IoV) by powering the real-time, secure settlement of funds for financial institutions and their customers worldwide. "Santander InnoVentures is a natural fit in this round because of their demonstrated support for real-time international payments and their commitment to new technologies that enable Santander to empower its customers," said Ripple CEO and co-founder Chris Larsen. "We are excited to work closely with them in building the Internet of Value and accelerating adoption amongst financial institutions, market makers and businesses worldwide." The Santander InnoVentures fund is an investment vehicle designed to partner with portfolio companies and explore new technologies that can be used in support of Santander's customer base. "Santander has long been an advocate for modernizing banking infrastructure," said Mariano Belinky, Managing Partner of Santander InnoVentures. "In our recent Fintech 2.0 report , we highlighted the $20 billion opportunity available to the financial services industry, and many of the scenarios where distributed ledger technology will have a positive impact." Belinky added: "We believe Ripple possesses the talent, technology, and momentum to address many of these scenarios, and are actively exploring where and how best to apply Ripple technology inside the bank. Ripple and Santander share a common vision of the future of the industry, and we intend to jointly advocate it in the community." Other investors in Ripple's Series A round include IDG Capital Partners , the venture arms of CME Group and global data storage company Seagate Technology , Jerry Yang's AME Cloud Ventures , ChinaRock Capital Management , China Growth Capital , Wicklow Capital, the investment vehicle for Dan Tierney and Stephen Schuler, co-founders of GETCO (now KCG), Bitcoin Opportunity Corp., Core Innovation Capital , Route 66 Ventures , RRE Ventures , Vast Ventures , and Venture 51 . Ripple provides bank-grade solutions that enable the world's disparate financial networks to securely transfer funds in any currency in real time. Financial institutions use Ripple as an alternative to correspondent banking to facilitate real-time, certain settlement at the lowest total cost possible. Story continues Ripple was created to enable the world to move value as easily as information moves today, giving rise to an Internet of Value (IoV) akin to today's Internet of Knowledge. For more information about Ripple, please visit http://www.ripple.com . About Ripple Ripple provides global financial settlement solutions to ultimately enable the world to exchange value like it already exchanges information - giving rise to an Internet of Value (IoV). Ripple solutions lower the total cost of settlement by enabling banks to transact directly, without correspondent banks, and with real-time certainty of settlement. Banks around the world are partnering with Ripple to improve their cross-border payment offerings, and to join the growing, global network of financial institutions and market makers laying the foundation for the Internet of Value. Ripple is a venture-backed startup with offices in San Francisco, New York and Sydney. As an industry advocate for the Internet of Value, Ripple sits on the Federal Reserve's Faster Payments Task Force Steering Committee and is a member of the W3C's Web Payments Interest Group . About Santander InnoVentures Launched in July 2014 with a global remit to invest in transformational fintech business, Santander InnoVentures is based in London. The fund builds on the bank's philosophy of collaboration and partnership with small and start-up companies. Santander InnoVentures provides fintech companies with growth finance, industry expertise and access to Santander's internal technology and operations organisations. Through this hybrid approach to investing, Santander Group ensures continuous innovation within its own business to the benefit of customers around the world, as well as helping new fintech businesses to succeed. Santander InnoVentures focuses on working with fintech businesses operating within digital delivery of financial services, e-commerce and payments, online lending, e-financial investments, big data and analytics. The Fintech 2.0 Paper is a call to action for both banks and fintechs to consider the multi-billion dollar opportunities available through partnership. Download the full paper, exploring these opportunities in-depth and identifying specific use-cases, here: www.santanderinnoventures.com/fintech2 For more information, visit www.santanderinnoventures.com . Follow Santander InnoVentures on Twitter: @SanInnoventures . Banco Santander (SAN.MC, STD.N, BNC.LN) is a leading retail and commercial bank, based in Spain, with a meaningful market share in 10 core countries in Europe and the Americas. Santander is the largest bank in the euro zone by market capitalization and among the top 12 banks on a global basis. Founded in 1857, Santander had EUR 1.51 trillion in managed funds, 12,910 branches and 190,000 employees at the close of June 2015. In the first half of 2015, Santander made ordinary attributable profit of EUR 3,426 million, a 24% increase. View comments \|\| New York regulator issues license to Winkelvoss bitcoin venture: By Gertrude Chavez-Dreyfuss NEW YORK (Reuters) - Gemini Trust Company, founded by investors Tyler and Cameron Winklevoss, has been granted a license to operate as a chartered limited liability trust company by the New York State Department of Financial Services, the state regulator announced on Monday. Under the charter, Gemini will operate a bitcoin exchange and will officially open for trading on Thursday at 9:30 a.m. (1330 GMT)) serving both individual and institutional customers, Gemimi said in a separate statement on Monday. Bitcoin is a virtual currency bought and sold on a peer-to-peer network independent of central control. "In New York, we are continuing to move forward on licensing and chartering virtual currency firms," said Anthony J. Albanese, acting superintendent of Financial Services. "Smart, targeted regulation that helps protect consumers and prevent illicit activity is vital to the long-term future of this industry." Gemini is the first licensed crypto currency business for the Winklevoss brothers, best known for accusing Facebook Inc founder Mark Zuckerberg of stealing their idea. "Our focus right now is operating a spot bitcoin exchange. In many ways, we're not really re-inventing the wheel," said Gemini chief executive Tyler Winklevoss told Reuters in August. The Winklevoss brothers filed an application to operate as a trust company with the New York's banking regulator in July. A trust company is a type of financial institution technically different from a bank, analysts said. Under New York banking law, a trust company has all the powers of a bank to take deposits and make loans, alongside certain fiduciary powers such as acting as an agent for government bodies. As a limited liability trust company, Gemini will maintain significant capital reserves consistent with that of a premier fiduciary business, the company said. Gemini added that it will hold in custody all bitcoin deposits, the majority of which will be held in its offline, multi-signature, geographically distributed cold storage system. Gemini said all fiat currency such as U.S. dollars transferred to Gemini will be deposited in a New York state chartered bank, headquartered in midtown Manhattan, and eligible for Federal Deposit Insurance Corp insurance, subject to applicable limitations. It did not name the bank. Bitcoin's value has been highly volatile, having peaked at over $1,200 in late 2013 before crashing after the collapse of the Mt. Gox bitcoin exchange. One bitcoin is currently worth around $238.17 on the BitStamp platform. (Reporting by Gertrude Chavez-Dreyfuss Editing by W Simon) \|\| New York regulator issues license to Winkelvoss bitcoin venture: By Gertrude Chavez-Dreyfuss NEW YORK (Reuters) - Gemini Trust Company, founded by investors Tyler and Cameron Winklevoss, has been granted a license to operate as a chartered limited liability trust company by the New York State Department of Financial Services, the state regulator announced on Monday. Under the charter, Gemini will operate a bitcoin exchange and will officially open for trading on Thursday at 9:30 a.m. (1330 GMT)) serving both individual and institutional customers, Gemimi said in a separate statement on Monday. Bitcoin is a virtual currency bought and sold on a peer-to-peer network independent of central control. "In New York, we are continuing to move forward on licensing and chartering virtual currency firms," said Anthony J. Albanese, acting superintendent of Financial Services. "Smart, targeted regulation that helps protect consumers and prevent illicit activity is vital to the long-term future of this industry." Gemini is the first licensed crypto currency business for the Winklevoss brothers, best known for accusing Facebook Inc founder Mark Zuckerberg of stealing their idea. "Our focus right now is operating a spot bitcoin exchange. In many ways, we're not really re-inventing the wheel," said Gemini chief executive Tyler Winklevoss told Reuters in August. The Winklevoss brothers filed an application to operate as a trust company with the New York's banking regulator in July. A trust company is a type of financial institution technically different from a bank, analysts said. Under New York banking law, a trust company has all the powers of a bank to take deposits and make loans, alongside certain fiduciary powers such as acting as an agent for government bodies. As a limited liability trust company, Gemini will maintain significant capital reserves consistent with that of a premier fiduciary business, the company said. Gemini added that it will hold in custody all bitcoin deposits, the majority of which will be held in its offline, multi-signature, geographically distributed cold storage system. Story continues Gemini said all fiat currency such as U.S. dollars transferred to Gemini will be deposited in a New York state chartered bank, headquartered in midtown Manhattan, and eligible for Federal Deposit Insurance Corp insurance, subject to applicable limitations. It did not name the bank. Bitcoin's value has been highly volatile, having peaked at over $1,200 in late 2013 before crashing after the collapse of the Mt. Gox bitcoin exchange. One bitcoin is currently worth around $238.17 on the BitStamp platform. (Reporting by Gertrude Chavez-Dreyfuss Editing by W Simon) \|\| Pot Resort To Open Fully Booked On New Year's Eve: In September, the Santee Sioux tribe of South Dakota announced that it was embracing new laws that allow Native American Tribes to sell and consume marijuana on their reservations by opening a marijuana-themed resort. The tribe outlined plans to create the ultimate "adult playground" where people could come to relax and enjoy marijuana in public spaces without fear of being prosecuted. Now, the Tribe's lawyers say thatreservationsfor the resort's opening night are flying in, and that the establishment will likely open its doors for the first time to a sold out weekend. See Also:Relax And Get High New Year's Eve Opening The marijuana resort is slated to open on New Year's Eve, providing the perfect atmosphere for partygoers who are interested in making cannabis a part of their 2016 celebrations. The venue will feature dance clubs and a dedicated smoking lounge where around 30 different strains of cannabis will be on offer. The tribe's attorney Seth Pearmansaidthe resort has already booked in rooms for 100 people as interest continues to grow. Tribal Revenue Much like casinos, many Native American tribes are hoping to bring in revenue from marijuana sales as laws allow them to sell and use the drug even if the state they reside in has classed it as illegal. For the Santee Sioux tribe, that has opened the door for a revolutionary idea to create the world's first cannabis resort. However, the venture comes with its own risks as the marijuana industry is still under the microscope. For one, the tribe will have to ensure that marijuana isn't taken off the reservation and that visitors aren't buying too much of the stuff. However, for the tribe, which has struggled to stay afloat financially, the estimated $2 million per month the resort is forecast to bring in is well worth it. See more from Benzinga • Bitcoin Takes A Hit In Australia • Small Businesses Turn To Online Lenders • As California's Drought Drags On, Winners And Losers Emerge © 2015 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. \|\| Pot Resort To Open Fully Booked On New Year's Eve: In September, the Santee Sioux tribe of South Dakota announced that it was embracing new laws that allow Native American Tribes to sell and consume marijuana on their reservations by opening a marijuana-themed resort. The tribe outlined plans to create the ultimate "adult playground" where people could come to relax and enjoy marijuana in public spaces without fear of being prosecuted. Now, the Tribe's lawyers say that reservations for the resort's opening night are flying in, and that the establishment will likely open its doors for the first time to a sold out weekend. See Also: Relax And Get High New Year's Eve Opening The marijuana resort is slated to open on New Year's Eve, providing the perfect atmosphere for partygoers who are interested in making cannabis a part of their 2016 celebrations. The venue will feature dance clubs and a dedicated smoking lounge where around 30 different strains of cannabis will be on offer. The tribe's attorney Seth Pearman said the resort has already booked in rooms for 100 people as interest continues to grow. Tribal Revenue Much like casinos, many Native American tribes are hoping to bring in revenue from marijuana sales as laws allow them to sell and use the drug even if the state they reside in has classed it as illegal. For the Santee Sioux tribe, that has opened the door for a revolutionary idea to create the world's first cannabis resort. However, the venture comes with its own risks as the marijuana industry is still under the microscope. For one, the tribe will have to ensure that marijuana isn't taken off the reservation and that visitors aren't buying too much of the stuff. However, for the tribe, which has struggled to stay afloat financially, the estimated $2 million per month the resort is forecast to bring in is well worth it. See more from Benzinga Bitcoin Takes A Hit In Australia Small Businesses Turn To Online Lenders As California's Drought Drags On, Winners And Losers Emerge © 2015 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. \|\| Bitcoin Takes A Hit In Australia: Bitcoin has gained popularity across the globe in recent years, but concerns about safety have kept the cryptocurrency from becoming a mainstream means of payment. For that reason, banks in Australia have begun to move away from cryptocurrency, deciding last month to close the accounts of 13 of the continent's 17 bitcoin exchanges. The decision has had a ripple effect on the bitcoin industry in Australia as more and more businesses similarly turn their backs on digital currencies. Bye-Bye Bitcoin In Australia, many businesses began accepting bitcoin payments when the coin gained popularity. As the digital payments trend expanded, some firms hoped to use bitcoin in order to tap into a greater pool of potential clients and make it easier for international customers to pay. However, the nation's banks' decision to shut bitcoin exchanges out has led many Australian firms to rethink their decisions. Many worry that the banks are only the beginning of a backlash against cryptocurrencies, and that by participating in the trend they could tarnish their reputations. Related Link:Bitcoin Gains Deeper Foothold In Latin America Through MercadoLibre Big Blow To Cryptocurrencies Although cryptocurrencies are still receiving a lot of positive attention in places like Europe and the US, the changing attitude in Australia could put a dent in the industry's momentum. Australia makes up around7 percentof bitcoin's $3.5 billion global value, a significant portion. Not only will a negative attitude toward bitcoin affect the Australian market, but it could spread further afield. Some worry that the negative reputation could eventually influence the opinions of consumers and lawmakers in other countries as well. See more from Benzinga • Small Businesses Turn To Online Lenders • As California's Drought Drags On, Winners And Losers Emerge • Is Europe Recovering Or Not? © 2015 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. \|\| Bitcoin Takes A Hit In Australia: Bitcoin has gained popularity across the globe in recent years, but concerns about safety have kept the cryptocurrency from becoming a mainstream means of payment. For that reason, banks in Australia have begun to move away from cryptocurrency, deciding last month to close the accounts of 13 of the continent's 17 bitcoin exchanges. The decision has had a ripple effect on the bitcoin industry in Australia as more and more businesses similarly turn their backs on digital currencies. Bye-Bye Bitcoin In Australia, many businesses began accepting bitcoin payments when the coin gained popularity. As the digital payments trend expanded, some firms hoped to use bitcoin in order to tap into a greater pool of potential clients and make it easier for international customers to pay. However, the nation's banks' decision to shut bitcoin exchanges out has led many Australian firms to rethink their decisions. Many worry that the banks are only the beginning of a backlash against cryptocurrencies, and that by participating in the trend they could tarnish their reputations. Related Link:Bitcoin Gains Deeper Foothold In Latin America Through MercadoLibre Big Blow To Cryptocurrencies Although cryptocurrencies are still receiving a lot of positive attention in places like Europe and the US, the changing attitude in Australia could put a dent in the industry's momentum. Australia makes up around7 percentof bitcoin's $3.5 billion global value, a significant portion. Not only will a negative attitude toward bitcoin affect the Australian market, but it could spread further afield. Some worry that the negative reputation could eventually influence the opinions of consumers and lawmakers in other countries as well. See more from Benzinga • Small Businesses Turn To Online Lenders • As California's Drought Drags On, Winners And Losers Emerge • Is Europe Recovering Or Not? © 2015 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. \|\| Bitcoin Takes A Hit In Australia: Bitcoin has gained popularity across the globe in recent years, but concerns about safety have kept the cryptocurrency from becoming a mainstream means of payment. For that reason, banks in Australia have begun to move away from cryptocurrency, deciding last month to close the accounts of 13 of the continent's 17 bitcoin exchanges. The decision has had a ripple effect on the bitcoin industry in Australia as more and more businesses similarly turn their backs on digital currencies. Bye-Bye Bitcoin In Australia, many businesses began accepting bitcoin payments when the coin gained popularity. As the digital payments trend expanded, some firms hoped to use bitcoin in order to tap into a greater pool of potential clients and make it easier for international customers to pay. However, the nation's banks' decision to shut bitcoin exchanges out has led many Australian firms to rethink their decisions. Many worry that the banks are only the beginning of a backlash against cryptocurrencies, and that by participating in the trend they could tarnish their reputations. Related Link: Bitcoin Gains Deeper Foothold In Latin America Through MercadoLibre Big Blow To Cryptocurrencies Although cryptocurrencies are still receiving a lot of positive attention in places like Europe and the US, the changing attitude in Australia could put a dent in the industry's momentum. Australia makes up around 7 percent of bitcoin's $3.5 billion global value, a significant portion. Not only will a negative attitude toward bitcoin affect the Australian market, but it could spread further afield. Some worry that the negative reputation could eventually influence the opinions of consumers and lawmakers in other countries as well. See more from Benzinga Small Businesses Turn To Online Lenders As California's Drought Drags On, Winners And Losers Emerge Is Europe Recovering Or Not? © 2015 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. View comments \|\| XBT Provider AB: Bitcoin Tracker EUR to start trading on Nasdaq Nordic today: Stockholm, SWEDEN (October 5th, 2015) -XBT Provider AB is proud to announce the launch of Bitcoin tracker Euro. Starting today anyone with a brokerage account connected to Nasdaq Nordic can trade the ETN "Bitcoin Tracker EUR" The ticker code is Bitcoin XBTE. ISIN: SE0007525332 Bitcoin Tracker EUR is designed to mirror the return of the underlying asset, U.S. dollar (USD) per Bitcoin. The product is an exchange traded note designed to track the movement of the underlying asset after fees. Bitcoin Tracker EUR is our second Bitcoin-based security available on Nasdaq Nordic. XBT Provider launched this financial instrument to meet the needs of investors` growing appetite for exposure to Bitcoin prices. "Bitcoin tracker EUR" (BTE) is listed on Nasdaq Nordic in Stockholm and traded in the same manner as any share or instrument listed on the Nasdaq exchange in Stockholm. BTE is also available via Bloomberg terminals through the ticker code COINXBE. The full prospectus is available onxbtprovider.com Bitcoin Tracker EUR is issued under the same prospectus as Bitcoin Tracker One which isapproved by Sweden`s financial supervisory authority, Finansinspektionen. ABOUT XBT PROVIDERXBT Provider AB (publ) is a public limited liability company formed in Sweden with statutory seat in Stockholm. The issuer is incorporated under Swedish law and registered with the Swedish companies` registration office under registration number 559001-3313. ABOUT THE MARKET MAKER: MANGOLD FONDKOMMISSIONMangold Fondkommission is a Stockholm based Brokerage and Investment bank. As a member of Nasdaq Nordic the company assists XBT Provider with clearing services and acts as a liquidity provider for Bitcoin Tracker One and Bitcoin Tracker EUR. FOR FURTHER INFORMATION, PLEASE CONTACT Alexander MarshE-mail:[email protected] Johan WattenströmE-mail:[email protected] Press release (PDF) This announcement is distributed by NASDAQ OMX Corporate Solutions on behalf of NASDAQ OMX Corporate Solutions clients.The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.Source: XBT Provider AB via GlobeNewswireHUG#1956529 \|\| XBT Provider AB: Bitcoin Tracker EUR to start trading on Nasdaq Nordic today: Stockholm, SWEDEN (October 5th, 2015) -XBT Provider AB is proud to announce the launch of Bitcoin tracker Euro. Starting today anyone with a brokerage account connected to Nasdaq Nordic can trade the ETN "Bitcoin Tracker EUR" The ticker code is Bitcoin XBTE. ISIN: SE0007525332 Bitcoin Tracker EUR is designed to mirror the return of the underlying asset, U.S. dollar (USD) per Bitcoin. The product is an exchange traded note designed to track the movement of the underlying asset after fees. Bitcoin Tracker EUR is our second Bitcoin-based security available on Nasdaq Nordic. XBT Provider launched this financial instrument to meet the needs of investors` growing appetite for exposure to Bitcoin prices. "Bitcoin tracker EUR" (BTE) is listed on Nasdaq Nordic in Stockholm and traded in the same manner as any share or instrument listed on the Nasdaq exchange in Stockholm. BTE is also available via Bloomberg terminals through the ticker code COINXBE. The full prospectus is available onxbtprovider.com Bitcoin Tracker EUR is issued under the same prospectus as Bitcoin Tracker One which isapproved by Sweden`s financial supervisory authority, Finansinspektionen. ABOUT XBT PROVIDERXBT Provider AB (publ) is a public limited liability company formed in Sweden with statutory seat in Stockholm. The issuer is incorporated under Swedish law and registered with the Swedish companies` registration office under registration number 559001-3313. ABOUT THE MARKET MAKER: MANGOLD FONDKOMMISSIONMangold Fondkommission is a Stockholm based Brokerage and Investment bank. As a member of Nasdaq Nordic the company assists XBT Provider with clearing services and acts as a liquidity provider for Bitcoin Tracker One and Bitcoin Tracker EUR. FOR FURTHER INFORMATION, PLEASE CONTACT Alexander MarshE-mail:[email protected] Johan WattenströmE-mail:[email protected] Press release (PDF) This announcement is distributed by NASDAQ OMX Corporate Solutions on behalf of NASDAQ OMX Corporate Solutions clients.The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.Source: XBT Provider AB via GlobeNewswireHUG#1956529 \|\| Bitcoin flounders in Australia as regulatory worries bite: By Byron Kaye and Swati Pandey SYDNEY (Reuters) - Australian businesses are turning their backs on bitcoin, as signs grow that the cryptocurrency's mainstream appeal is fading. Concerns about bitcoin's potential crime links mean many businesses have stopped accepting it, a trend accelerated by Australian banks' move last month to close the accounts of 13 of the country's 17 bitcoin exchanges. The development is a blow to hopes of bitcoin fans that the currency can play a significant role in everyday business transactions in developed economies, with Australia once seen as one of its most promising markets. It is estimated to hold 7 percent of the currency's $3.5 billion global value, a sizeable figure in a country of just 24 million people. "We've got a squeaky clean reputation, and that's actually worth a lot more to us than dipping into this," said James Snodgrass, principal of Sydney's Forsyth Real Estate, which ditched the currency in late 2014 after the firm was investigated by the federal tax office. Forsyth had offered to collect home deposits and other realtor fees via bitcoin to cater to international buyers. The tax office probe found no wrongdoing but Forsyth was burned by the negative publicity and bailed out before ever taking a bitcoin payment. Although most mainstream banks in Europe and the U.S. already refuse to keep bitcoin-affiliated accounts, developments in Australia represent the first coordinated shutdown of bitcoin exchanges by a country's banking system. The move makes it much harder for people to convert regular currencies in to or out of bitcoin, threatening its long-term value. "It really runs on people using bitcoin, and if nobody uses it then it's worthless," said University of Technology Sydney senior finance lecturer Adrian Lee. BANK SHUTDOWN The banks' shutdown appears at odds with a government inquiry which in August recommended removing sales tax for people who buy bitcoin. The Australian anti-money laundering agency, AUSTRAC, told Reuters that banks have no legal obligation to close bitcoin accounts. The so-called "Big Four" banks - Commonwealth Bank of Australia, Westpac Banking Corp, Australia and New Zealand Banking Group and National Australia Bank - directed inquiries about bitcoin to the Australian Bankers' Association. Tony Pearson, the association's acting chief executive, wouldn't confirm the coordinated rejection of bitcoin but said in an email that its "lack of transparency and regulatory oversight raises a number of risks for users and also poses risks for the payments system, the integrity of the financial system and the erosion of the tax base". Australia's organised crime agency has said it is concerned the currency's untraceable nature makes it attractive for money laundering and selling illicit drugs. In the U.K. and the U.S., most large banks have already cut ties with bitcoin account holders, but lack of industry co-ordination has left room for individual lenders to support the currency, including Germany's Fidor Bank AG, which operates in Britain, and tech-focused Californian lender Silicon Valley Bank. CLOSE, MOVE OFFSHORE OR SNEAK AROUND The 13 Australian bitcoin exchanges whose accounts were closed by the banks have shut operations. The remaining four have had their accounts frozen, and now face three options: close, move overseas or spread their business into several smaller bank accounts to avoid detection by their banks. Buyabitcoin.com.au, one of the remaining four exchanges, said it is still considering its options. "It makes it, obviously, hard to take payments from our customers, but we have a couple of relationships left," said Andrew Smith, general manager of the Melbourne-based exchange. Smith declined to identify which bank his firm is now using from fear of repercussions but said he plans to move the business offshore. Two sources told Reuters that regional lender Bank of Queensland still held some bitcoin accounts. The bank said in an email that "virtual currencies fall outside of our risk appetite" but did not deny or confirm it had these accounts. RETAIL PULLOUT Some industry watchers believe ambivalence may be bitcoin's biggest problem. At least six Australian retail businesses, which as recently as 2014 courted publicity for offering sales by bitcoin, told Reuters they were considering exiting the currency. "If governments begin to aggressively attack the whole idea of cryptocurrencies and give it a bad name, it might have an adverse effect on our brand by accepting it," said David Brim, co-founder of off-road vehicle maker Tomcar Australia, which has sold one car using bitcoin since introducing it in November 2014. Grant Fairweather, owner of the Metropolitan Hotel in Sydney, said he started accepting bitcoin when a group of digital currency fans chose his pub as their regular meeting venue. "They tell me that it's doing quite well, but that doesn't transpose into here," said Fairweather, who sells about A$100 ($70) worth of drinks via bitcoin from the meetings and does no other bitcoin trade. An online clothing retailer told Reuters she had made no bitcoin sales since introducing the service in 2013 and asked not to be named, saying "since bitcoin's going out anyway, we'd rather not throw our name back into it". (Additional reporting by Nathan Lynch in SYDNEY and Jemima Kelly in LONDON. Editing by Jane Wardell and Rachel Armstrong) \|\| Bitcoin flounders in Australia as regulatory worries bite: By Byron Kaye and Swati Pandey SYDNEY (Reuters) - Australian businesses are turning their backs on bitcoin, as signs grow that the cryptocurrency's mainstream appeal is fading. Concerns about bitcoin's potential crime links mean many businesses have stopped accepting it, a trend accelerated by Australian banks' move last month to close the accounts of 13 of the country's 17 bitcoin exchanges. The development is a blow to hopes of bitcoin fans that the currency can play a significant role in everyday business transactions in developed economies, with Australia once seen as one of its most promising markets. It is estimated to hold 7 percent of the currency's $3.5 billion global value, a sizeable figure in a country of just 24 million people. "We've got a squeaky clean reputation, and that's actually worth a lot more to us than dipping into this," said James Snodgrass, principal of Sydney's Forsyth Real Estate, which ditched the currency in late 2014 after the firm was investigated by the federal tax office. Forsyth had offered to collect home deposits and other realtor fees via bitcoin to cater to international buyers. The tax office probe found no wrongdoing but Forsyth was burned by the negative publicity and bailed out before ever taking a bitcoin payment. Although most mainstream banks in Europe and the U.S. already refuse to keep bitcoin-affiliated accounts, developments in Australia represent the first coordinated shutdown of bitcoin exchanges by a country's banking system. The move makes it much harder for people to convert regular currencies in to or out of bitcoin, threatening its long-term value. "It really runs on people using bitcoin, and if nobody uses it then it's worthless," said University of Technology Sydney senior finance lecturer Adrian Lee. BANK SHUTDOWN The banks' shutdown appears at odds with a government inquiry which in August recommended removing sales tax for people who buy bitcoin. The Australian anti-money laundering agency, AUSTRAC, told Reuters that banks have no legal obligation to close bitcoin accounts. The so-called "Big Four" banks - Commonwealth Bank of Australia, Westpac Banking Corp, Australia and New Zealand Banking Group and National Australia Bank - directed inquiries about bitcoin to the Australian Bankers' Association. Tony Pearson, the association's acting chief executive, wouldn't confirm the coordinated rejection of bitcoin but said in an email that its "lack of transparency and regulatory oversight raises a number of risks for users and also poses risks for the payments system, the integrity of the financial system and the erosion of the tax base". Australia's organised crime agency has said it is concerned the currency's untraceable nature makes it attractive for money laundering and selling illicit drugs. In the U.K. and the U.S., most large banks have already cut ties with bitcoin account holders, but lack of industry co-ordination has left room for individual lenders to support the currency, including Germany's Fidor Bank AG, which operates in Britain, and tech-focused Californian lender Silicon Valley Bank. CLOSE, MOVE OFFSHORE OR SNEAK AROUND The 13 Australian bitcoin exchanges whose accounts were closed by the banks have shut operations. The remaining four have had their accounts frozen, and now face three options: close, move overseas or spread their business into several smaller bank accounts to avoid detection by their banks. Buyabitcoin.com.au, one of the remaining four exchanges, said it is still considering its options. "It makes it, obviously, hard to take payments from our customers, but we have a couple of relationships left," said Andrew Smith, general manager of the Melbourne-based exchange. Smith declined to identify which bank his firm is now using from fear of repercussions but said he plans to move the business offshore. Two sources told Reuters that regional lender Bank of Queensland still held some bitcoin accounts. The bank said in an email that "virtual currencies fall outside of our risk appetite" but did not deny or confirm it had these accounts. RETAIL PULLOUT Some industry watchers believe ambivalence may be bitcoin's biggest problem. At least six Australian retail businesses, which as recently as 2014 courted publicity for offering sales by bitcoin, told Reuters they were considering exiting the currency. "If governments begin to aggressively attack the whole idea of cryptocurrencies and give it a bad name, it might have an adverse effect on our brand by accepting it," said David Brim, co-founder of off-road vehicle maker Tomcar Australia, which has sold one car using bitcoin since introducing it in November 2014. Grant Fairweather, owner of the Metropolitan Hotel in Sydney, said he started accepting bitcoin when a group of digital currency fans chose his pub as their regular meeting venue. "They tell me that it's doing quite well, but that doesn't transpose into here," said Fairweather, who sells about A$100 ($70) worth of drinks via bitcoin from the meetings and does no other bitcoin trade. An online clothing retailer told Reuters she had made no bitcoin sales since introducing the service in 2013 and asked not to be named, saying "since bitcoin's going out anyway, we'd rather not throw our name back into it". (Additional reporting by Nathan Lynch in SYDNEY and Jemima Kelly in LONDON. Editing by Jane Wardell and Rachel Armstrong) \|\| Bitcoin flounders in Australia as regulatory worries bite: By Byron Kaye and Swati Pandey SYDNEY (Reuters) - Australian businesses are turning their backs on bitcoin, as signs grow that the cryptocurrency's mainstream appeal is fading. Concerns about bitcoin's potential crime links mean many businesses have stopped accepting it, a trend accelerated by Australian banks' move last month to close the accounts of 13 of the country's 17 bitcoin exchanges. The development is a blow to hopes of bitcoin fans that the currency can play a significant role in everyday business transactions in developed economies, with Australia once seen as one of its most promising markets. It is estimated to hold 7 percent of the currency's $3.5 billion global value, a sizeable figure in a country of just 24 million people. "We've got a squeaky clean reputation, and that's actually worth a lot more to us than dipping into this," said James Snodgrass, principal of Sydney's Forsyth Real Estate, which ditched the currency in late 2014 after the firm was investigated by the federal tax office. Forsyth had offered to collect home deposits and other realtor fees via bitcoin to cater to international buyers. The tax office probe found no wrongdoing but Forsyth was burned by the negative publicity and bailed out before ever taking a bitcoin payment. Although most mainstream banks in Europe and the U.S. already refuse to keep bitcoin-affiliated accounts, developments in Australia represent the first coordinated shutdown of bitcoin exchanges by a country's banking system. The move makes it much harder for people to convert regular currencies in to or out of bitcoin, threatening its long-term value. "It really runs on people using bitcoin, and if nobody uses it then it's worthless," said University of Technology Sydney senior finance lecturer Adrian Lee. BANK SHUTDOWN The banks' shutdown appears at odds with a government inquiry which in August recommended removing sales tax for people who buy bitcoin. The Australian anti-money laundering agency, AUSTRAC, told Reuters that banks have no legal obligation to close bitcoin accounts. The so-called "Big Four" banks - Commonwealth Bank of Australia, Westpac Banking Corp, Australia and New Zealand Banking Group and National Australia Bank - directed inquiries about bitcoin to the Australian Bankers' Association. Tony Pearson, the association's acting chief executive, wouldn't confirm the coordinated rejection of bitcoin but said in an email that its "lack of transparency and regulatory oversight raises a number of risks for users and also poses risks for the payments system, the integrity of the financial system and the erosion of the tax base". Australia's organised crime agency has said it is concerned the currency's untraceable nature makes it attractive for money laundering and selling illicit drugs. In the U.K. and the U.S., most large banks have already cut ties with bitcoin account holders, but lack of industry co-ordination has left room for individual lenders to support the currency, including Germany's Fidor Bank AG, which operates in Britain, and tech-focused Californian lender Silicon Valley Bank. CLOSE, MOVE OFFSHORE OR SNEAK AROUND The 13 Australian bitcoin exchanges whose accounts were closed by the banks have shut operations. The remaining four have had their accounts frozen, and now face three options: close, move overseas or spread their business into several smaller bank accounts to avoid detection by their banks. Buyabitcoin.com.au, one of the remaining four exchanges, said it is still considering its options. "It makes it, obviously, hard to take payments from our customers, but we have a couple of relationships left," said Andrew Smith, general manager of the Melbourne-based exchange. Smith declined to identify which bank his firm is now using from fear of repercussions but said he plans to move the business offshore. Two sources told Reuters that regional lender Bank of Queensland still held some bitcoin accounts. The bank said in an email that "virtual currencies fall outside of our risk appetite" but did not deny or confirm it had these accounts. RETAIL PULLOUT Some industry watchers believe ambivalence may be bitcoin's biggest problem. At least six Australian retail businesses, which as recently as 2014 courted publicity for offering sales by bitcoin, told Reuters they were considering exiting the currency. "If governments begin to aggressively attack the whole idea of cryptocurrencies and give it a bad name, it might have an adverse effect on our brand by accepting it," said David Brim, co-founder of off-road vehicle maker Tomcar Australia, which has sold one car using bitcoin since introducing it in November 2014. Grant Fairweather, owner of the Metropolitan Hotel in Sydney, said he started accepting bitcoin when a group of digital currency fans chose his pub as their regular meeting venue. "They tell me that it's doing quite well, but that doesn't transpose into here," said Fairweather, who sells about A$100 ($70) worth of drinks via bitcoin from the meetings and does no other bitcoin trade. An online clothing retailer told Reuters she had made no bitcoin sales since introducing the service in 2013 and asked not to be named, saying "since bitcoin's going out anyway, we'd rather not throw our name back into it". (Additional reporting by Nathan Lynch in SYDNEY and Jemima Kelly in LONDON. Editing by Jane Wardell and Rachel Armstrong) \|\| Bitcoin flounders in Australia as regulatory worries bite: By Byron Kaye and Swati Pandey SYDNEY (Reuters) - Australian businesses are turning their backs on bitcoin, as signs grow that the cryptocurrency's mainstream appeal is fading. Concerns about bitcoin's potential crime links mean many businesses have stopped accepting it, a trend accelerated by Australian banks' move last month to close the accounts of 13 of the country's 17 bitcoin exchanges. The development is a blow to hopes of bitcoin fans that the currency can play a significant role in everyday business transactions in developed economies, with Australia once seen as one of its most promising markets. It is estimated to hold 7 percent of the currency's $3.5 billion global value, a sizeable figure in a country of just 24 million people. "We've got a squeaky clean reputation, and that's actually worth a lot more to us than dipping into this," said James Snodgrass, principal of Sydney's Forsyth Real Estate, which ditched the currency in late 2014 after the firm was investigated by the federal tax office. Forsyth had offered to collect home deposits and other realtor fees via bitcoin to cater to international buyers. The tax office probe found no wrongdoing but Forsyth was burned by the negative publicity and bailed out before ever taking a bitcoin payment. Although most mainstream banks in Europe and the U.S. already refuse to keep bitcoin-affiliated accounts, developments in Australia represent the first coordinated shutdown of bitcoin exchanges by a country's banking system. The move makes it much harder for people to convert regular currencies in to or out of bitcoin, threatening its long-term value. "It really runs on people using bitcoin, and if nobody uses it then it's worthless," said University of Technology Sydney senior finance lecturer Adrian Lee. BANK SHUTDOWN The banks' shutdown appears at odds with a government inquiry which in August recommended removing sales tax for people who buy bitcoin. The Australian anti-money laundering agency, AUSTRAC, told Reuters that banks have no legal obligation to close bitcoin accounts. The so-called "Big Four" banks - Commonwealth Bank of Australia, Westpac Banking Corp, Australia and New Zealand Banking Group and National Australia Bank - directed inquiries about bitcoin to the Australian Bankers' Association. Tony Pearson, the association's acting chief executive, wouldn't confirm the coordinated rejection of bitcoin but said in an email that its "lack of transparency and regulatory oversight raises a number of risks for users and also poses risks for the payments system, the integrity of the financial system and the erosion of the tax base". Australia's organized crime agency has said it is concerned the currency's untraceable nature makes it attractive for money laundering and selling illicit drugs. In the U.K. and the U.S., most large banks have already cut ties with bitcoin account holders, but lack of industry co-ordination has left room for individual lenders to support the currency, including Germany's Fidor Bank AG, which operates in Britain, and tech-focused Californian lender Silicon Valley Bank. CLOSE, MOVE OFFSHORE OR SNEAK AROUND The 13 Australian bitcoin exchanges whose accounts were closed by the banks have shut operations. The remaining four have had their accounts frozen, and now face three options: close, move overseas or spread their business into several smaller bank accounts to avoid detection by their banks. Buyabitcoin.com.au, one of the remaining four exchanges, said it is still considering its options. "It makes it, obviously, hard to take payments from our customers, but we have a couple of relationships left," said Andrew Smith, general manager of the Melbourne-based exchange. Smith declined to identify which bank his firm is now using from fear of repercussions but said he plans to move the business offshore. Two sources told Reuters that regional lender Bank of Queensland still held some bitcoin accounts. The bank said in an email that "virtual currencies fall outside of our risk appetite" but did not deny or confirm it had these accounts. RETAIL PULLOUT Some industry watchers believe ambivalence may be bitcoin's biggest problem. At least six Australian retail businesses, which as recently as 2014 courted publicity for offering sales by bitcoin, told Reuters they were considering exiting the currency. "If governments begin to aggressively attack the whole idea of cryptocurrencies and give it a bad name, it might have an adverse effect on our brand by accepting it," said David Brim, co-founder of off-road vehicle maker Tomcar Australia, which has sold one car using bitcoin since introducing it in November 2014. Grant Fairweather, owner of the Metropolitan Hotel in Sydney, said he started accepting bitcoin when a group of digital currency fans chose his pub as their regular meeting venue. "They tell me that it's doing quite well, but that doesn't transpose into here," said Fairweather, who sells about A$100 ($70) worth of drinks via bitcoin from the meetings and does no other bitcoin trade. An online clothing retailer told Reuters she had made no bitcoin sales since introducing the service in 2013 and asked not to be named, saying "since bitcoin's going out anyway, we'd rather not throw our name back into it". (Additional reporting by Nathan Lynch in SYDNEY and Jemima Kelly in LONDON. Editing by Jane Wardell and Rachel Armstrong) [Social Media Buzz] Current price: 158.47£ $BTCGBP $btc #bitcoin 2015-10-08 12:00:09 BST \|\| Current price: 244.28$ $BTCUSD $btc #bitcoin 2015-10-08 00:00:03 EDT \|\| Current price: 217.01€ $BTCEUR $btc #bitcoin 2015-10-08 05:00:05 CEST \|\| Current rate: 4,098.39 bits per dollar. One #bitcoin is worth $244.00. http://BitsPerDollar.com/ \|\| Gold $1,140.25 \| Silver $15.63 \| Platinum $942.00 \| Bitcoin $243.51 Call us toll free 800-874-9760 or shop online http://RRBI.co \|\| $242.97 #bitfinex; $242.92 #bitstamp; $242.82 ...	243.93, 244.94, 247.05, 245.31, 249.51, 251.99, 254.32, 262.87, 270.64, 261.64
Given the historical Bitcoin prices from the last 90 days, predict the next 10 daily closing prices. The historical prices are: 2571.34, 2518.44, 2372.56, 2337.79, 2398.84, 2357.90, 2233.34, 1998.86, 1929.82, 2228.41, 2318.88, 2273.43, 2817.60, 2667.76, 2810.12, 2730.40, 2754.86, 2576.48, 2529.45, 2671.78, 2809.01, 2726.45, 2757.18, 2875.34, 2718.26, 2710.67, 2804.73, 2895.89, 3252.91, 3213.94, 3378.94, 3419.94, 3342.47, 3381.28, 3650.62, 3884.71, 4073.26, 4325.13, 4181.93, 4376.63, 4331.69, 4160.62, 4193.70, 4087.66, 4001.74, 4100.52, 4151.52, 4334.68, 4371.60, 4352.40, 4382.88, 4382.66, 4579.02, 4565.30, 4703.39, 4892.01, 4578.77, 4582.96, 4236.31, 4376.53, 4597.12, 4599.88, 4228.75, 4226.06, 4122.94, 4161.27, 4130.81, 3882.59, 3154.95, 3637.52, 3625.04, 3582.88, 4065.20, 3924.97, 3905.95, 3631.04, 3630.70, 3792.40, 3682.84, 3926.07, 3892.35, 4200.67, 4174.73, 4163.07, 4338.71, 4403.74, 4409.32, 4317.48, 4229.36, 4328.41.	[Bitcoin Technical Analysis for 2017-10-05] Volume: 1161769984, RSI (14-day): 56.81, 50-day EMA: 3972.60, 200-day EMA: 2900.38 [Wider Market Context] Gold Price: 1269.90, Gold RSI: 36.06 Oil Price: 50.79, Oil RSI: 55.82 [Recent News (last 7 days)] Former Bundesbank Chief: Bitcoin Doesn't Meet Full Definition of a Currency: The chairman of Swiss banking giant UBS doesn't believe that bitcoin meets the full definition of a currency, according to new statements. Axel Weber, who previously served as head of the Bundesbank, Germany's central bank, made the remarks during an event in Zürich earlier today, according toReuters. After noting that his skepticism toward the cryptocurrency "probably comes from my background as a central banker," Weber argued that in spite of arguments to the contrary, bitcoin only partially satisfies the common definition of a currency. He told event attendees: "The important function of a currency is, it’s a means of payment, it has to be generally accepted, it has to be a store of value and it’s a transaction currency. Bitcoin is only a transaction currency." Weber reportedly criticized the cryptocurrency market back in late 2015, according to a report at the time fromCity A.M. He is said to have remarked that the bitcoin model is set to fail "because there is no lender of last resort – there will always be boom and bust." The UBS chairman becomes the latest figure from a major financial institution to weigh in on the topic of cryptocurrencies. Just yesterday, Lloyd Blankfein, the CEO of Wall Street investment bank Goldman Sachs,took to Twitterto offer an open (if not neutral) perspective on bitcoin. Image Credit: International Monetary Fund/Flickr • New Banks Join UBS-Backed Blockchain Trade Finance Platform • Germany's Central Bank: Consumers Won't Use Blockchain for Payments • IBM Joins Automakers, Banks in Blockchain Wallet Project Expansion • Barclays, HSBC Join Settlement Coin as Bank Blockchain Test Enters New Phase \|\| Former Bundesbank Chief: Bitcoin Doesn't Meet Full Definition of a Currency: The chairman of Swiss banking giant UBS doesn't believe that bitcoin meets the full definition of a currency, according to new statements. Axel Weber, who previously served as head of the Bundesbank, Germany's central bank, made the remarks during an event in Zürich earlier today, according to Reuters . After noting that his skepticism toward the cryptocurrency "probably comes from my background as a central banker," Weber argued that in spite of arguments to the contrary, bitcoin only partially satisfies the common definition of a currency. He told event attendees: "The important function of a currency is, it’s a means of payment, it has to be generally accepted, it has to be a store of value and it’s a transaction currency. Bitcoin is only a transaction currency." Weber reportedly criticized the cryptocurrency market back in late 2015, according to a report at the time from City A.M . He is said to have remarked that the bitcoin model is set to fail "because there is no lender of last resort – there will always be boom and bust." The UBS chairman becomes the latest figure from a major financial institution to weigh in on the topic of cryptocurrencies. Just yesterday, Lloyd Blankfein, the CEO of Wall Street investment bank Goldman Sachs, took to Twitter to offer an open (if not neutral) perspective on bitcoin. Image Credit: International Monetary Fund/Flickr Related Stories New Banks Join UBS-Backed Blockchain Trade Finance Platform Germany's Central Bank: Consumers Won't Use Blockchain for Payments IBM Joins Automakers, Banks in Blockchain Wallet Project Expansion Barclays, HSBC Join Settlement Coin as Bank Blockchain Test Enters New Phase \|\| Former Bundesbank Chief: Bitcoin Doesn't Meet Full Definition of a Currency: The chairman of Swiss banking giant UBS doesn't believe that bitcoin meets the full definition of a currency, according to new statements. Axel Weber, who previously served as head of the Bundesbank, Germany's central bank, made the remarks during an event in Zürich earlier today, according toReuters. After noting that his skepticism toward the cryptocurrency "probably comes from my background as a central banker," Weber argued that in spite of arguments to the contrary, bitcoin only partially satisfies the common definition of a currency. He told event attendees: "The important function of a currency is, it’s a means of payment, it has to be generally accepted, it has to be a store of value and it’s a transaction currency. Bitcoin is only a transaction currency." Weber reportedly criticized the cryptocurrency market back in late 2015, according to a report at the time fromCity A.M. He is said to have remarked that the bitcoin model is set to fail "because there is no lender of last resort – there will always be boom and bust." The UBS chairman becomes the latest figure from a major financial institution to weigh in on the topic of cryptocurrencies. Just yesterday, Lloyd Blankfein, the CEO of Wall Street investment bank Goldman Sachs,took to Twitterto offer an open (if not neutral) perspective on bitcoin. Image Credit: International Monetary Fund/Flickr • New Banks Join UBS-Backed Blockchain Trade Finance Platform • Germany's Central Bank: Consumers Won't Use Blockchain for Payments • IBM Joins Automakers, Banks in Blockchain Wallet Project Expansion • Barclays, HSBC Join Settlement Coin as Bank Blockchain Test Enters New Phase \|\| 3 Reasons Visa (V) Stock Will Keep Surging — and 3 Reasons It Won’t: Visa Inc(NYSE:V) has delivered eye-popping returns for investors. Visa stock has more than quadrupled over the past six years and the gains haven’t let up. Already, year-to-date, Visa stock is up another 35%. Source: Shutterstock It goes without saying that Visa stock looks expensive. But then again, it pretty much always has since going public. Yet, in hindsight, there has rarely been a bad time to pick up more Visa. Is it more clear sailing ahead for this all-star stock, or will it finally correct in the coming months? InvestorPlace - Stock Market News, Stock Advice & Trading Tips • Gun Stocks Rally After Las Vegas Mass Shooting Really Expensive Stock: Visa is one of the most reliable performers in the stock market today. Since going public, Visa has beaten earnings expectations 36 out of 38 quarters. That’s an amazing track record. So, while analysts are forecasting a huge earnings per share growth rate going forward — 14%/year over the next five years — there’s reason to think Visa will deliver. Unfortunately, they’ll have to in order to justify the current V stock price. Visa presently sells at 39 times trailing earnings and 27x forward earnings. CompetitorMastercard Inc(NYSE:MA) has also skyrocketed. Even still, it is at 35x earnings. V stock stands alone at the top of the valuation spectrum. It’s not just expensive on earnings, Visa is also selling at 9x book value and a remarkable 14x sales. This stock is priced for many years of great times ahead. Locked out of China Market: It’s logical to think of Visa as the world’s largest payments company. But it actually lost the crown recently to China’s state-backedUnionPaynetwork. Based on2015 data, UnionPay controls 37% of the global market, compared to 32% for Visa and 20% for Mastercard. While UnionPay is accepted in more than 100 countries, it is primarily a China-focused service. The fact that there are already more than 5 billion UnionPay cards shows the huge lead they have in that market, considering that there are only 1.4 billion Chinese people. Chinahaslifted regulations that had kept Visa and Mastercard out of the market, but, at this point, it will be hard for either to disrupt the entrenched the giant. Blockchain Disruption Looms: Assuming current technologies persist, Visa seemingly has an impenetrable moat. The world continues to move away from cash and Visa will collect more and more of the spoils as transactions go digital. Now, though, a new threat has arisen. It’s hard to quantify the exact nature of a potential challenge to Visa from Bitcoin and other digital currencies, but given the huge rise in Bitcoin, Ethereum and other such products this year, Visa stock owners must take the threat seriously. Blockchain-based payment systems offer several inherent advantages compared to credit cards, including better security and freedom from hacking, along with lower marginal transaction costs. On the other hand, blockchain payment systems face several huge hurdles, including a lack of credible oversight, government scrutiny/regulatory risk and difficulty in scaling up; Bitcoin, for example, processes transactions at a glacial pace compared to credit card networks. At this point, blockchain isn’t an imminent risk to V stock, but investors should still monitor digital alternatives to Visa closely. Still Strong Moat: While blockchain is a real threat, there’s little sign that it will imminently disrupt existing business models. A few years ago, we were hearing a lot about potential rivals such asApple Inc.(NASDAQ:AAPL) and its Apple Pay orAlphabet Inc(NASDAQ:GOOGL) and its Google Wallet. But these have largely disappeared as threats to Visa. That’s because they didn’t build their own widespread payment networks. Apple Pay, for example, works on top of existing networks, including Visa, thus complementing, rather than taking away, business from Visa. Visa is accepted in more than 200 countries and partners with 44 million merchants and 17,000 banks and financial institutions. Even the largest tech companies would struggle to disrupt a competitor with that much size. Surprisingly Recession-Proof: Bears will point to the consumer-spending driven nature of Visa’s business. Surely, with the American economy in its eighth year of recovery, the economically-sensitive Visa stock will eventually face some headwind, right? Not so fast. Between 2008 and 2009, the company’s revenues, earnings, and EBITDA all increased. And V stock fell far less than the market as a whole. From mid-2008 to the March 2009 bottom, Visa stock only declined around 25%. It’s true that Visa benefits from a continuing economic expansion, but since Visa doesn’t take credit risk, it just gets a cut of fees as a middle man between the consumer and the bank. A recession wouldn’t be nearly as bad for Visa as one might expect. Huge Dividend Growth: While Visa stock may not seem like a typical dividend play, yield investors shouldn’t overlook the potential here. Yes, it’s easy to look at the 0.6% dividend offered today on Visa stock and forget about it. However, this small yield is growing quickly. In fact, like the stock price, the dividend is exploding higher. It’s grown at a 30% annualized rate over the past five years. In 2011, Visa was paying just 16 cents/share a year in dividends. It’s up to 66 cents a year now. That’s more than a 300% increase in six years. The company is due for another dividend hike before the year ends. With their payout ratio at just 24%, expect plenty more double-digit dividend increases ahead. Visa looks like a perfect stock. Even the risks to the business aren’t anything too threatening in the near term. However, V stock is priced accordingly. It will take years of strong growth to justify Visa’s current price. Investors are very optimistic — and with good reason. But risk is still tilted to the downside, as business could hardly get better for Visa. • Verizon's (VZ) Stock Dividend Likely to Get Slashed For investors wanting a payments play, it’s worth taking a look atDiscover Financial Services(NYSE:DFS). Yes, Discover isn’t nearly as big as Visa or Mastercard, but it has a key alliance with UnionPay, among other international partners. It is also selling at just 11x earnings (compared to 39x and 35x for Visa and Mastercard, respectively). And it pays a much larger dividend. While Visa stock may continue to rally, Discover offers a larger margin of safety here. As of this writing, Ian Bezek owned DFS stock and had no positions in any of the other aforementioned securities. You can reach him on Twitter at @irbezek. The post3 Reasons Visa (V) Stock Will Keep Surging — and 3 Reasons It Won’tappeared first onInvestorPlace. \|\| 3 Reasons Visa (V) Stock Will Keep Surging — and 3 Reasons It Won’t: Visa Inc (NYSE: V ) has delivered eye-popping returns for investors. Visa stock has more than quadrupled over the past six years and the gains haven’t let up. Already, year-to-date, Visa stock is up another 35%. 3 Reasons Visa (V) Stock Will Keep Surging -- and 3 Reasons It Won't Source: Shutterstock It goes without saying that Visa stock looks expensive. But then again, it pretty much always has since going public. Yet, in hindsight, there has rarely been a bad time to pick up more Visa. Is it more clear sailing ahead for this all-star stock, or will it finally correct in the coming months? InvestorPlace - Stock Market News, Stock Advice & Trading Tips Gun Stocks Rally After Las Vegas Mass Shooting Visa Stock Cons Really Expensive Stock : Visa is one of the most reliable performers in the stock market today. Since going public, Visa has beaten earnings expectations 36 out of 38 quarters. That’s an amazing track record. So, while analysts are forecasting a huge earnings per share growth rate going forward — 14%/year over the next five years — there’s reason to think Visa will deliver. Unfortunately, they’ll have to in order to justify the current V stock price. Visa presently sells at 39 times trailing earnings and 27x forward earnings. Competitor Mastercard Inc (NYSE: MA ) has also skyrocketed. Even still, it is at 35x earnings. V stock stands alone at the top of the valuation spectrum. It’s not just expensive on earnings, Visa is also selling at 9x book value and a remarkable 14x sales. This stock is priced for many years of great times ahead. Locked out of China Market : It’s logical to think of Visa as the world’s largest payments company. But it actually lost the crown recently to China’s state-backed UnionPay network. Based on 2015 data , UnionPay controls 37% of the global market, compared to 32% for Visa and 20% for Mastercard. While UnionPay is accepted in more than 100 countries, it is primarily a China-focused service. The fact that there are already more than 5 billion UnionPay cards shows the huge lead they have in that market, considering that there are only 1.4 billion Chinese people. China has lifted regulations that had kept Visa and Mastercard out of the market, but, at this point, it will be hard for either to disrupt the entrenched the giant. Story continues Blockchain Disruption Looms : Assuming current technologies persist, Visa seemingly has an impenetrable moat. The world continues to move away from cash and Visa will collect more and more of the spoils as transactions go digital. Now, though, a new threat has arisen. It’s hard to quantify the exact nature of a potential challenge to Visa from Bitcoin and other digital currencies, but given the huge rise in Bitcoin, Ethereum and other such products this year, Visa stock owners must take the threat seriously. Blockchain-based payment systems offer several inherent advantages compared to credit cards, including better security and freedom from hacking, along with lower marginal transaction costs. On the other hand, blockchain payment systems face several huge hurdles, including a lack of credible oversight, government scrutiny/regulatory risk and difficulty in scaling up; Bitcoin, for example, processes transactions at a glacial pace compared to credit card networks. At this point, blockchain isn’t an imminent risk to V stock, but investors should still monitor digital alternatives to Visa closely. Visa Stock Pros Still Strong Moat : While blockchain is a real threat, there’s little sign that it will imminently disrupt existing business models. A few years ago, we were hearing a lot about potential rivals such as Apple Inc. (NASDAQ: AAPL ) and its Apple Pay or Alphabet Inc (NASDAQ: GOOGL ) and its Google Wallet. But these have largely disappeared as threats to Visa. That’s because they didn’t build their own widespread payment networks. Apple Pay, for example, works on top of existing networks, including Visa, thus complementing, rather than taking away, business from Visa. Visa is accepted in more than 200 countries and partners with 44 million merchants and 17,000 banks and financial institutions. Even the largest tech companies would struggle to disrupt a competitor with that much size. Surprisingly Recession-Proof : Bears will point to the consumer-spending driven nature of Visa’s business. Surely, with the American economy in its eighth year of recovery, the economically-sensitive Visa stock will eventually face some headwind, right? Not so fast. Between 2008 and 2009, the company’s revenues, earnings, and EBITDA all increased. And V stock fell far less than the market as a whole. From mid-2008 to the March 2009 bottom, Visa stock only declined around 25%. It’s true that Visa benefits from a continuing economic expansion, but since Visa doesn’t take credit risk, it just gets a cut of fees as a middle man between the consumer and the bank. A recession wouldn’t be nearly as bad for Visa as one might expect. Huge Dividend Growth : While Visa stock may not seem like a typical dividend play, yield investors shouldn’t overlook the potential here. Yes, it’s easy to look at the 0.6% dividend offered today on Visa stock and forget about it. However, this small yield is growing quickly. In fact, like the stock price, the dividend is exploding higher. It’s grown at a 30% annualized rate over the past five years. In 2011, Visa was paying just 16 cents/share a year in dividends. It’s up to 66 cents a year now. That’s more than a 300% increase in six years. The company is due for another dividend hike before the year ends. With their payout ratio at just 24%, expect plenty more double-digit dividend increases ahead. Verdict on Visa Stock Visa looks like a perfect stock. Even the risks to the business aren’t anything too threatening in the near term. However, V stock is priced accordingly. It will take years of strong growth to justify Visa’s current price. Investors are very optimistic — and with good reason. But risk is still tilted to the downside, as business could hardly get better for Visa. Verizon's (VZ) Stock Dividend Likely to Get Slashed For investors wanting a payments play, it’s worth taking a look at Discover Financial Services (NYSE: DFS ). Yes, Discover isn’t nearly as big as Visa or Mastercard, but it has a key alliance with UnionPay, among other international partners. It is also selling at just 11x earnings (compared to 39x and 35x for Visa and Mastercard, respectively). And it pays a much larger dividend. While Visa stock may continue to rally, Discover offers a larger margin of safety here. As of this writing, Ian Bezek owned DFS stock and had no positions in any of the other aforementioned securities. You can reach him on Twitter at @irbezek. The post 3 Reasons Visa (V) Stock Will Keep Surging — and 3 Reasons It Won’t appeared first on InvestorPlace . \|\| Google's AI is much smarter than Siri: (BI Intelligence) This story was delivered to BI IntelligenceApps and Platforms Briefingsubscribers. To learn more and subscribe, pleaseclick here. Google’s artificial intelligence (AI) is much smarter than Apple’s Siri, according to a report from three Chinese researchers. The report, which aimed to compare the intelligence of various AI systems, found that in 2016, Google’s AI had an IQ of 47.3, ahead of Chinese search engine Baidu (33), Microsoft’s Bing (32), and Siri (24). But while Google’s AI leads the tech pack, it has a long way to go before it comes close to human intelligence; the average 6-year-old has an IQ of 55.5, according to the report. AI is becoming an important segment for companies that use the technology to power an increasingly large portion of their offerings. For example, Google uses a machine learning program called RankBrain to power most search results, and Microsoft’s intelligent cloud business is becoming a formidable revenue driver. Google and Microsoft have shown substantial growth in their AI’s IQ. In 2014, Google’s IQ was 26.5, and Microsoft’s was 13.5. Apple’s and Baidu’s AIs weren’t measured at the time, however, both companies have been working hard to improve their AI’s functionality. Baidu is open about its efforts to “win the AI race,” and Apple’s new A11 Bionic chip houses a neural engine dedicated to handling specific machine learning algorithms. Booming investments in AI startups are encouraging this growth. In Q1 2017, $1.7 billion was spent funding global AI companies, up 84% year-over-year (YoY),accordingto CB Insights. Moreover, businesses will be able to leverage tech companies’ increasingly intelligent AI to optimize their processes and increase productivity. This is one of the most important effects AI will have, according to a recent survey by GlobalData. Jessica Smith, research analyst forBI Intelligence, Business Insider's premium research service, has compileda detailed report on the voice assistant landscapethat: • Identifies the major changes in technology and user behavior that have created the voice assistant market that exists today. • Presents the major players in today's market and discusses their major weaknesses and strengths. • Explores the impact this nascent market poses to other key digital industries. • Identifies the major hurdles that need to be overcome before intelligent voice assistants will see mass adoption. To get the full report, subscribe to anAll-Accesspass to BI Intelligence and gain immediate access to this report and more than 250 other expertly researched reports. As an added bonus, you'll also gain access to all future reports and daily newsletters to ensure you stay ahead of the curve and benefit personally and professionally. »Learn More Now You can also purchase and download the full report from ourresearch store. More From Business Insider • Google and Apple aim to help publishers monetize • Apple's Siri ditches Bing for Google • Goldman Sachs ponders Bitcoin trading \|\| Google's AI is much smarter than Siri: bii global quarterly ai funding (BI Intelligence) This story was delivered to BI Intelligence Apps and Platforms Briefing subscribers. To learn more and subscribe, please click here . Googles artificial intelligence (AI) is much smarter than Apples Siri, according to a report from three Chinese researchers. The report, which aimed to compare the intelligence of various AI systems, found that in 2016, Googles AI had an IQ of 47.3, ahead of Chinese search engine Baidu (33), Microsofts Bing (32), and Siri (24). But while Googles AI leads the tech pack, it has a long way to go before it comes close to human intelligence; the average 6-year-old has an IQ of 55.5, according to the report. AI is becoming an important segment for companies that use the technology to power an increasingly large portion of their offerings. For example, Google uses a machine learning program called RankBrain to power most search results, and Microsofts intelligent cloud business is becoming a formidable revenue driver. Google and Microsoft have shown substantial growth in their AIs IQ. In 2014, Googles IQ was 26.5, and Microsofts was 13.5. Apples and Baidus AIs werent measured at the time, however, both companies have been working hard to improve their AIs functionality. Baidu is open about its efforts to win the AI race, and Apples new A11 Bionic chip houses a neural engine dedicated to handling specific machine learning algorithms. Booming investments in AI startups are encouraging this growth. In Q1 2017, $1.7 billion was spent funding global AI companies, up 84% year-over-year (YoY), according to CB Insights. Moreover, businesses will be able to leverage tech companies increasingly intelligent AI to optimize their processes and increase productivity. This is one of the most important effects AI will have, according to a recent survey by GlobalData. Jessica Smith, research analyst for BI Intelligence , Business Insider's premium research service, has compiled a detailed report on the voice assistant landscape that: Story continues Identifies the major changes in technology and user behavior that have created the voice assistant market that exists today. Presents the major players in today's market and discusses their major weaknesses and strengths. Explores the impact this nascent market poses to other key digital industries. Identifies the major hurdles that need to be overcome before intelligent voice assistants will see mass adoption. To get the full report, subscribe to an All-Access pass to BI Intelligence and gain immediate access to this report and more than 250 other expertly researched reports. As an added bonus, you'll also gain access to all future reports and daily newsletters to ensure you stay ahead of the curve and benefit personally and professionally. » Learn More Now You can also purchase and download the full report from our research store . More From Business Insider Google and Apple aim to help publishers monetize Apple's Siri ditches Bing for Google Goldman Sachs ponders Bitcoin trading \|\| Data Sheet—Ford CEO's Good Old-Fashioned Strategic Plan: New Ford CEO Jim Hackett unveiled his first detailed plan for the future of the vehicle maker Tuesday. He talked less about design thinking, the subject of my recent profile about him , and more about new priorities, including electric and autonomous vehicles as well as SUVs and trucks. Design thinking is a product-management philosophy that its proponents refer to as human-centered, and it is particularly popular in Silicon Valley. Hackett’s public plans , on the other hand, reflect good old-fashioned strategic planning and an acknowledgment that Ford’s market is shifting. He said the company needs to de-emphasize increasingly less popular passenger cars, especially the kind that burn gasoline, and focus more on electric vehicles and wildly popular vehicles that hold stuff in addition to people. Consistent with the themes Hackett has pursued in his short tenure at Ford, including his pre-CEO stint running the company’s “smart mobility” (aka alternative revenue source) unit, Hackett emphasized so-called connected cars. Should Ford succeed in equipping all its cars with information that gets communicated back to its servers, it will become a “big data” company, a beyond-vehicles opportunity that is as promising as it is murky. Get Data Sheet , Fortune’s technology newsletter. Incidentally, if you read one article about the future of the global automotive industry, make it The Wall Street Journal ’s compelling narrative about China’s efforts to create an electric car market by fiat . (I mean that in the sense of official order, not the Italian carmaker; Also, if you read yesterday’s column you’ll understand why I link unapologetically to articles that require subscriptions.) China’s mandate might end up as one of the greatest “student body left” commercial and industrial calls of all time. (For the uninformed, I apologize for mixing football and policy metaphors.) It’s yet another example of the grand experiment happening before our eyes in the world’s second largest economy. Story continues * Paul Otellini, CEO of Intel from 2005 to 2013, died Tuesday . He was the first and only non-engineer to lead the company, a fact reflected in the endearing statement from current Intel CEO Brian Krzanich: “He was the relentless voice of the customer in a sea of engineers, and he taught us that we only win when we put the customer first.” I profiled Otellini when he first became CEO. A native San Franciscan, he was a relatively guarded and quiet business executive, certainly compared to his larger-than-life mentor, Andy Grove. As his tenure drew to a close he candidly acknowledged that Intel had missed a critical shift to smartphones. He was 66 and had kept a low profile since retiring from Intel. NEWSWORTHY Outmaneuvered . Uber directors on Tuesday voted to expand the board and make other changes to dilute the power of former CEO and still shareholder Travis Kalanick. At the same time, a group of investors including SoftBank will buy up to $1.25 billion of new Uber shares at a valuation of $69 billion and up to 17% of existing stock from prior investors at a discount. More good news came from the courtroom of U.S. District Judge William Alsup. In delaying the start of the trial over Waymo’s charges of stolen trade secrets, Alsup indicated he’d seen no evidence that Uber copied any of Waymo’s technology. For what it’s worth . Former Equifax CEO Richard Smith appeared before Congress on Tuesday and repeatedly apologized for the data breach at his company that exposed personal data from 145 million consumers. Smith admitted that the Department of Homeland Security warned Equifax about a security weakness in March but the company did nothing. The personal data disaster is prompting the Trump administration to rethink the use of social security numbers . “I feel very strongly that the Social Security number has outlived its usefulness,” White House cybersecurity coordinator Rob Joyce said at a conference on Tuesday. What people really should have is a “modern cryptographic identifier,” he suggested. Shiny new things. Google holds what’s becoming an annual hardware unveiling event today in San Francisco starting at noon Eastern Time, 9 a.m. Pacific Time. Expected new devices include the Pixel 2 smartphone, a mini version of the Google Home speaker/digital assistant, an updated Chromebook Pixel laptop, and possibly a new version of the Daydream VR headset. You can follow along live on YouTube. Nice exit . New York startup Body Labs got bought by Amazon , Techcrunch reported. The company creates virtual 3D body models that can be added to shopping apps to help customers see how an item of clothing might fit, for example. Amazon rival Walmart was also fishing in the Big Apple’s startup waters this week, grabbing Brooklyn-based delivery service Parcel. FOOD FOR THOUGHT They can be clever or cute, and occasionally annoying, but there is no denying the popularity of the mini movie images known as GIFs that people love to paste into messaging apps, Twitter posts and anywhere else they’re allowed (even this newsletter sometimes). A ton of the images originate from one company: Giphy. Nicole Laporte at Fast Company has a profile of the supplier of GIFs seen by 300 million people a day. Cofounder and CEO Alex Chung thinks Giphy may be poised to dominate advertising in the short video-esque segments: “Everyone is moving to the six-second ad format,” he says. “YouTube has done it. Facebook is doing it. We’ve owned that format for years. We have all the tools to make it. We have the largest distribution of that six-second content anywhere in the world—across mobile, desktop, anywhere.” Perhaps most important, Giphy has commercials that look nothing like advertising. “If it’s good,” says COO Adam Leibsohn, “it’s stuff that people want to use—to communicate, to laugh, to inform.” IN CASE YOU MISSED IT Amazon Was Just Hit With a $294 Million Bill for Back Taxes By David Meyer Siri, Call Mom: How One Woman Used an iPhone to Reach a Las Vegas Victims Family By John Patrick Pullen Yahoo Raises Breach Estimate to Full 3 Billion Accounts, By Far Biggest Known By Robert Hackett Wall Street Weighs In on Google’s Upcoming Pixel Phone By Aaron Pressman One of the World’s Biggest Bitcoin Exchanges Just Added a New Cryptocurrency By Robert Hackett Snapchat Wants to Bring Art to Life, or at Least to Augmented Reality By Michal Lev-Ram Roku Stock Keeps Falling After IPO and Streaming Device Updates By Tom Huddleston, Jr. Elon Musk’s Ludicrous New Idea: Launching ICBMs Full of People By Leon Vanstone BEFORE YOU GO \|\| Data Sheet—Ford CEO's Good Old-Fashioned Strategic Plan: NewFordCEO Jim Hackett unveiled his first detailed plan for the future of the vehicle maker Tuesday. He talked less about design thinking, the subject ofmy recent profile about him, and more about new priorities, including electric and autonomous vehicles as well as SUVs and trucks. Design thinking is a product-management philosophy that its proponents refer to as human-centered, and it is particularly popular in Silicon Valley. Hackett’spublic plans, on the other hand, reflect good old-fashioned strategic planning and an acknowledgment that Ford’s market is shifting. He said the company needs to de-emphasize increasingly less popular passenger cars, especially the kind that burn gasoline, and focus more on electric vehicles and wildly popular vehicles that hold stuff in addition to people. Consistent with the themes Hackett has pursued in his short tenure at Ford, including his pre-CEO stint running the company’s “smart mobility” (aka alternative revenue source) unit, Hackett emphasized so-called connected cars. Should Ford succeed in equipping all its cars with information that gets communicated back to its servers, it will become a “big data” company, a beyond-vehicles opportunity that is as promising as it is murky. Get Data Sheet, Fortune’s technology newsletter. Incidentally, if you read one article about the future of the global automotive industry, make itThe Wall Street Journal’scompelling narrative about China’s efforts to create an electric car market by fiat. (I mean that in the sense of official order, not the Italian carmaker; Also, if you read yesterday’s column you’ll understand why I link unapologetically to articles that require subscriptions.) China’s mandate might end up as one of the greatest “student body left” commercial and industrial calls of all time. (For the uninformed, I apologize for mixing football and policy metaphors.) It’s yet another example of the grand experiment happening before our eyes in the world’s second largest economy. * Paul Otellini, CEO ofIntelfrom 2005 to 2013,died Tuesday. He was the first and only non-engineer to lead the company, a fact reflected in the endearing statement from current Intel CEO Brian Krzanich: “He was the relentless voice of the customer in a sea of engineers, and he taught us that we only win when we put the customer first.” Iprofiled Otelliniwhen he first became CEO. A native San Franciscan, he was a relatively guarded and quiet business executive, certainly compared to his larger-than-life mentor, Andy Grove. As his tenure drew to a close he candidly acknowledged that Intel had missed a critical shift to smartphones. He was 66 and had kept a low profile since retiring from Intel. Outmaneuvered.Uberdirectors on Tuesdayvotedto expand the board and make other changes to dilute the power of former CEO and still shareholder Travis Kalanick. At the same time, a group of investors including SoftBank will buy up to $1.25 billion of new Uber shares at a valuation of $69 billion and up to 17% of existing stock from prior investors at a discount. More good news came from the courtroom of U.S. District Judge William Alsup. In delaying the start of the trial overWaymo’scharges of stolen trade secrets, Alsupindicatedhe’d seen no evidence that Uber copied any of Waymo’s technology. For what it’s worth. FormerEquifaxCEO Richard Smithappearedbefore Congress on Tuesday and repeatedly apologized for the data breach at his company that exposed personal data from 145 million consumers. Smith admitted that the Department of Homeland Security warned Equifax about a security weakness in March but the company did nothing. The personal data disaster is prompting the Trump administration to rethink the use ofsocial security numbers. “I feel very strongly that the Social Security number has outlived its usefulness,” White House cybersecurity coordinator Rob Joycesaidat a conference on Tuesday. What people really should have is a “modern cryptographic identifier,” he suggested. Shiny new things.Googleholds what’s becoming an annual hardware unveiling event today in San Francisco starting at noon Eastern Time, 9 a.m. Pacific Time.Expectednew devices include thePixel 2smartphone, a mini version of the Google Home speaker/digital assistant, an updated Chromebook Pixel laptop, and possibly a new version of the Daydream VR headset. You canfollow alonglive on YouTube. Nice exit. New York startup Body Labs gotboughtbyAmazon, Techcrunch reported. The company creates virtual 3D body models that can be added to shopping apps to help customers see how an item of clothing might fit, for example. Amazon rivalWalmartwas also fishing in the Big Apple’s startup waters this week,grabbingBrooklyn-based delivery service Parcel. They can be clever or cute,and occasionally annoying, but there is no denying the popularity of the mini movie images known as GIFs that people love to paste into messaging apps, Twitter posts and anywhere else they’re allowed (even this newsletter sometimes). A ton of the images originate from one company: Giphy. Nicole Laporte atFast Companyhas aprofileof the supplier of GIFs seen by 300 million people a day. Cofounder and CEO Alex Chung thinks Giphy may be poised to dominate advertising in the short video-esque segments: “Everyone is moving to the six-second ad format,” he says. “YouTube has done it. Facebook is doing it. We’ve owned that format for years. We have all the tools to make it. We have the largest distribution of that six-second content anywhere in the world—across mobile, desktop, anywhere.” Perhaps most important, Giphy has commercials that look nothing like advertising. “If it’s good,” says COO Adam Leibsohn, “it’s stuff that people want to use—to communicate, to laugh, to inform.” Amazon Was Just Hit With a $294 Million Bill for Back TaxesBy David Meyer Siri, Call Mom: How One Woman Used an iPhone to Reach a Las Vegas Victims FamilyBy John Patrick Pullen Yahoo Raises Breach Estimate to Full 3 Billion Accounts, By Far Biggest KnownBy Robert Hackett Wall Street Weighs In on Google’s Upcoming Pixel PhoneBy Aaron Pressman One of the World’s Biggest Bitcoin Exchanges Just Added a New CryptocurrencyBy Robert Hackett Snapchat Wants to Bring Art to Life, or at Least to Augmented RealityBy Michal Lev-Ram Roku Stock Keeps Falling After IPO and Streaming Device UpdatesBy Tom Huddleston, Jr. Elon Musk’s Ludicrous New Idea: Launching ICBMs Full of PeopleBy Leon Vanstone \|\| Epazz Launches Reg CF Crowdfunding Campaign to Market Bitcoin Cannabis Payment Mobile App (ZenaPay) and Other Cloud Software Products: CHICAGO, IL--(Marketwired - Oct 4, 2017) -Epazz, Inc. (OTC PINK:EPAZ), a leading provider of cloud-based business software solutions, announced that it is raising capital under Reg CF in order to reach the goal of $1 million. The funds will be used to add to the company's sales, marketing, and software-development force to focus on selling ZenaPay Bitcoin Cannabis Payment Solution and other cloud-based business software solutions and to increase the speed of its software development cycles to release new updates and new products. The company will soon release a demo video of the ZenaPay bitcoin cannabis payment mobile app. The company is finishing up registration with Apple's App Store in order to release the app. Later, the company will finish development of the Android version of ZenaPay. Epazz CEO Shaun Passley, PhD, noted, "We are pleased to announce our Unit Offering to the public." Shaun continued, "This up-to-$1 million offering should allow Epazz to continue to grow the free cash flow, earnings per share, and market share." The terms of the offering are expected to be as follows. Please note that these are only an indication of terms, and final terms will be outlined in the final definitive legal documents. This transaction is only open to accredited investors and institutional investors. Expected terms of the unit offering: Epazz Unit Offering of Revenue Sharing Preferred Shares Series D up to $1 million under Reg CF Proposed TermsIssuer:Epazz, Inc. (the "Issuer"). Offering:Revenue Sharing Preferred Stock Series D ("Preferred Stock") via Reg CF of the Jobs Act ($0.25 per Preferred Share). Minimum investment of $1,000 or 4,000 Preferred Shares, plus Transfer Agent cost of $35 per certificate. Offering Amount:Up to US $1 million (4,000,000 Preferred Shares Series D). Investors:Institutional, Accredited, and Non-accredited Investors ("Holders"). Use of Proceeds:The Company intends to use the net proceeds for marketing, sales, software development, and general working capital purposes and other necessary expenditures as determined at the discretion of management. Commencement Date:Commencing with the first full calendar month following the closing, within thirty (30) calendar days following the end of each calendar month, the Company will begin making cash payment (collectively, the "Monthly Revenue Share Amount") to the holders of preferred shares. Revenue Share Percentage:The Monthly Revenue Share Amount will be in an amount equal to up to 7% of Company Gross Revenues for such calendar month. Each Revenue Sharing Investor's pro rata share of the Monthly Revenue Share Amount shall be determined by dividing such Holder's investment amount by the investment amounts of all Holders as of the first day of the calendar month applicable to such Monthly Revenue Share Amount. Maximum Revenue Share Amount:The Monthly Revenue Share Amount will continue to be paid until each Holder has received aggregate payments in an amount equal to 1.25 times such Holder's investment amount (each such Holder's "Maximum Revenue Share Amount"). Revenue Definition:For any applicable calendar month, Company Gross Revenues will be an amount equal to all gross revenues from the sale of products or services by the Company or any parent, subsidiary, or affiliate of the Company during such calendar month as determined under US generally accepted accounting principles, consistently applied. Termination Date:In the event the Holder has not received the Maximum Revenue Share Amount prior to December 31, 2020 (the "Maturity Date"), the Company shall convert the Preferred Shares into Common A shares, on or before the Maturity Date, an amount equal to the Maximum Revenue Share Amount less the sum of all previous payments made by the Company to the Holder at the Market Price of the Common A shares. Manner of Payment:All such payments to the Holder shall be deposited into a bank account of the Holder's choosing at the time of investment, or any successor account thereto which may be established by the Holder, or provided via check to the Holder. The Holder will have an option not to receive cash payment in favor of future conversions into Common A shares. Overdue Payments:The Company shall be assessed a late payment charge at an annual rate equal to three percent (3%) of any Monthly Revenue Share Amount not paid within ten (10) business days of becoming due. This late payment charge is cumulative and assessed once per month from the due date until the date of payment thereof and shall accrue and be added to any balance of unpaid amounts subject to late payment. Forced Conversion:Preferred Shares may be Force Converted into Common A shares (with 5 business days' notice from the Issuer) an amount equal to the Maximum Revenue Share Amount less the sum of all previous payments made by the Company to the Holder at the Market Price of the Common A if and only if the Issuer's Common A stock is quoted on a national stock exchange such as Nasdaq or New York Stock Exchange. The terms and conditions set forth herein are subject to change, and this letter does not constitute an offer and are indicative and subject to change based on market conditions. Neither this term sheet nor any discussion or negotiation of the proposed transaction constitutes an agreement or obligation on the part of any person to purchase or sell securities of Issuer or enter into any agreement to purchase securities of Issuer. For more information about the offering or to receive a prospectus, please go tohttp://[email protected]. About ZenaPay (www.zenapay.com)ZenaPay is being developed to solve a major problem in the "420 industry": getting paid. For cannabis-related businesses, the largest issue they face is how to be paid for their products. Traditional banking systems will not allow 420 industries access to their payment systems. ZenaPay will offer a cutting-edge payment solution that offers consumers a way to buy cannabis online or in stores using bitcoin. The newcannabis payment softwarewill allow consumers to use the digital currency to make online or in-store purchases with ease. Additionally, the process will be anonymous because all transaction details are encrypted through bitcoin. This will allow stores to accept digital currency instead of only cash. About Epazz, Inc. (www.epazz.com)Epazz, Inc. is a leading cloud-based software company that specializes in providing customized cloud applications to the corporate world, higher-education institutions, and the public sector. Epazz BoxesOS™ v3.0 is the complete web-based business software package for small- to mid-sized businesses, Fortune 500 enterprises, government agencies, and higher-education institutions. BoxesOS provides many web-based applications that organizations must otherwise buy separately. Epazz's other products are AgentPower™, a workforce management software, and AutoHire™, an applicant-tracking system. SAFE HARBOR"Safe harbor" statements are protected under the Private Securities Litigation Reform Act of 1995: Certain statements contained in this press release are "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements generally can be identified by the use of such terms as "may," "expect," "intend," "estimate," "anticipate," "believe," "continue," or the negatives thereof or similar terminology. Such forward-looking statements are subject to risk, uncertainties, and other factors that could cause actual results to differ materially from future results or from results implied by such forward-looking statements. Investors are cautioned that any forward-looking statements are not guarantees of future performance and that actual results may differ materially from those contemplated by such forward-looking statements. Epazz, Inc. assumes no obligation, does not intend to update these forward-looking statements, and takes no obligation to update or correct information prepared by third parties that is not paid for by Epazz, Inc. Investors are encouraged to review Epazz's public filings on SEC.gov, including its unaudited and audited financial statements, Registration Statement, and Form 10-Ks and Form 10-Qs, which contain general business information about the Company's operations as well as results of operations and risks associated with the Company and its operations. \|\| Epazz Launches Reg CF Crowdfunding Campaign to Market Bitcoin Cannabis Payment Mobile App (ZenaPay) and Other Cloud Software Products: CHICAGO, IL--(Marketwired - Oct 4, 2017) -Epazz, Inc. (OTC PINK:EPAZ), a leading provider of cloud-based business software solutions, announced that it is raising capital under Reg CF in order to reach the goal of $1 million. The funds will be used to add to the company's sales, marketing, and software-development force to focus on selling ZenaPay Bitcoin Cannabis Payment Solution and other cloud-based business software solutions and to increase the speed of its software development cycles to release new updates and new products. The company will soon release a demo video of the ZenaPay bitcoin cannabis payment mobile app. The company is finishing up registration with Apple's App Store in order to release the app. Later, the company will finish development of the Android version of ZenaPay. Epazz CEO Shaun Passley, PhD, noted, "We are pleased to announce our Unit Offering to the public." Shaun continued, "This up-to-$1 million offering should allow Epazz to continue to grow the free cash flow, earnings per share, and market share." The terms of the offering are expected to be as follows. Please note that these are only an indication of terms, and final terms will be outlined in the final definitive legal documents. This transaction is only open to accredited investors and institutional investors. Expected terms of the unit offering: Epazz Unit Offering of Revenue Sharing Preferred Shares Series D up to $1 million under Reg CF Proposed TermsIssuer:Epazz, Inc. (the "Issuer"). Offering:Revenue Sharing Preferred Stock Series D ("Preferred Stock") via Reg CF of the Jobs Act ($0.25 per Preferred Share). Minimum investment of $1,000 or 4,000 Preferred Shares, plus Transfer Agent cost of $35 per certificate. Offering Amount:Up to US $1 million (4,000,000 Preferred Shares Series D). Investors:Institutional, Accredited, and Non-accredited Investors ("Holders"). Use of Proceeds:The Company intends to use the net proceeds for marketing, sales, software development, and general working capital purposes and other necessary expenditures as determined at the discretion of management. Commencement Date:Commencing with the first full calendar month following the closing, within thirty (30) calendar days following the end of each calendar month, the Company will begin making cash payment (collectively, the "Monthly Revenue Share Amount") to the holders of preferred shares. Revenue Share Percentage:The Monthly Revenue Share Amount will be in an amount equal to up to 7% of Company Gross Revenues for such calendar month. Each Revenue Sharing Investor's pro rata share of the Monthly Revenue Share Amount shall be determined by dividing such Holder's investment amount by the investment amounts of all Holders as of the first day of the calendar month applicable to such Monthly Revenue Share Amount. Maximum Revenue Share Amount:The Monthly Revenue Share Amount will continue to be paid until each Holder has received aggregate payments in an amount equal to 1.25 times such Holder's investment amount (each such Holder's "Maximum Revenue Share Amount"). Revenue Definition:For any applicable calendar month, Company Gross Revenues will be an amount equal to all gross revenues from the sale of products or services by the Company or any parent, subsidiary, or affiliate of the Company during such calendar month as determined under US generally accepted accounting principles, consistently applied. Termination Date:In the event the Holder has not received the Maximum Revenue Share Amount prior to December 31, 2020 (the "Maturity Date"), the Company shall convert the Preferred Shares into Common A shares, on or before the Maturity Date, an amount equal to the Maximum Revenue Share Amount less the sum of all previous payments made by the Company to the Holder at the Market Price of the Common A shares. Manner of Payment:All such payments to the Holder shall be deposited into a bank account of the Holder's choosing at the time of investment, or any successor account thereto which may be established by the Holder, or provided via check to the Holder. The Holder will have an option not to receive cash payment in favor of future conversions into Common A shares. Overdue Payments:The Company shall be assessed a late payment charge at an annual rate equal to three percent (3%) of any Monthly Revenue Share Amount not paid within ten (10) business days of becoming due. This late payment charge is cumulative and assessed once per month from the due date until the date of payment thereof and shall accrue and be added to any balance of unpaid amounts subject to late payment. Forced Conversion:Preferred Shares may be Force Converted into Common A shares (with 5 business days' notice from the Issuer) an amount equal to the Maximum Revenue Share Amount less the sum of all previous payments made by the Company to the Holder at the Market Price of the Common A if and only if the Issuer's Common A stock is quoted on a national stock exchange such as Nasdaq or New York Stock Exchange. The terms and conditions set forth herein are subject to change, and this letter does not constitute an offer and are indicative and subject to change based on market conditions. Neither this term sheet nor any discussion or negotiation of the proposed transaction constitutes an agreement or obligation on the part of any person to purchase or sell securities of Issuer or enter into any agreement to purchase securities of Issuer. For more information about the offering or to receive a prospectus, please go tohttp://[email protected]. About ZenaPay (www.zenapay.com)ZenaPay is being developed to solve a major problem in the "420 industry": getting paid. For cannabis-related businesses, the largest issue they face is how to be paid for their products. Traditional banking systems will not allow 420 industries access to their payment systems. ZenaPay will offer a cutting-edge payment solution that offers consumers a way to buy cannabis online or in stores using bitcoin. The newcannabis payment softwarewill allow consumers to use the digital currency to make online or in-store purchases with ease. Additionally, the process will be anonymous because all transaction details are encrypted through bitcoin. This will allow stores to accept digital currency instead of only cash. About Epazz, Inc. (www.epazz.com)Epazz, Inc. is a leading cloud-based software company that specializes in providing customized cloud applications to the corporate world, higher-education institutions, and the public sector. Epazz BoxesOS™ v3.0 is the complete web-based business software package for small- to mid-sized businesses, Fortune 500 enterprises, government agencies, and higher-education institutions. BoxesOS provides many web-based applications that organizations must otherwise buy separately. Epazz's other products are AgentPower™, a workforce management software, and AutoHire™, an applicant-tracking system. SAFE HARBOR"Safe harbor" statements are protected under the Private Securities Litigation Reform Act of 1995: Certain statements contained in this press release are "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements generally can be identified by the use of such terms as "may," "expect," "intend," "estimate," "anticipate," "believe," "continue," or the negatives thereof or similar terminology. Such forward-looking statements are subject to risk, uncertainties, and other factors that could cause actual results to differ materially from future results or from results implied by such forward-looking statements. Investors are cautioned that any forward-looking statements are not guarantees of future performance and that actual results may differ materially from those contemplated by such forward-looking statements. Epazz, Inc. assumes no obligation, does not intend to update these forward-looking statements, and takes no obligation to update or correct information prepared by third parties that is not paid for by Epazz, Inc. Investors are encouraged to review Epazz's public filings on SEC.gov, including its unaudited and audited financial statements, Registration Statement, and Form 10-Ks and Form 10-Qs, which contain general business information about the Company's operations as well as results of operations and risks associated with the Company and its operations. \|\| Epazz Launches Reg CF Crowdfunding Campaign to Market Bitcoin Cannabis Payment Mobile App (ZenaPay) and Other Cloud Software Products: CHICAGO, IL--(Marketwired - Oct 4, 2017) - Epazz, Inc . ( OTC PINK : EPAZ ), a leading provider of cloud-based business software solutions, announced that it is raising capital under Reg CF in order to reach the goal of $1 million. The funds will be used to add to the company's sales, marketing, and software-development force to focus on selling ZenaPay Bitcoin Cannabis Payment Solution and other cloud-based business software solutions and to increase the speed of its software development cycles to release new updates and new products. The company will soon release a demo video of the ZenaPay bitcoin cannabis payment mobile app. The company is finishing up registration with Apple's App Store in order to release the app. Later, the company will finish development of the Android version of ZenaPay. Epazz CEO Shaun Passley, PhD, noted, "We are pleased to announce our Unit Offering to the public." Shaun continued, "This up-to-$1 million offering should allow Epazz to continue to grow the free cash flow, earnings per share, and market share." The terms of the offering are expected to be as follows. Please note that these are only an indication of terms, and final terms will be outlined in the final definitive legal documents. This transaction is only open to accredited investors and institutional investors. Expected terms of the unit offering: Epazz Unit Offering of Revenue Sharing Preferred Shares Series D up to $1 million under Reg CF Proposed Terms Issuer: Epazz, Inc. (the "Issuer"). Offering: Revenue Sharing Preferred Stock Series D (" Preferred Stock ") via Reg CF of the Jobs Act ($0.25 per Preferred Share). Minimum investment of $1,000 or 4,000 Preferred Shares, plus Transfer Agent cost of $35 per certificate. Offering Amount: Up to US $1 million (4,000,000 Preferred Shares Series D). Investors: Institutional, Accredited, and Non-accredited Investors ("Holders"). Use of Proceeds: The Company intends to use the net proceeds for marketing, sales, software development, and general working capital purposes and other necessary expenditures as determined at the discretion of management. Story continues Commencement Date: Commencing with the first full calendar month following the closing, within thirty (30) calendar days following the end of each calendar month, the Company will begin making cash payment (collectively, the " Monthly Revenue Share Amount ") to the holders of preferred shares. Revenue Share Percentage: The Monthly Revenue Share Amount will be in an amount equal to up to 7% of Company Gross Revenues for such calendar month. Each Revenue Sharing Investor's pro rata share of the Monthly Revenue Share Amount shall be determined by dividing such Holder's investment amount by the investment amounts of all Holders as of the first day of the calendar month applicable to such Monthly Revenue Share Amount. Maximum Revenue Share Amount: The Monthly Revenue Share Amount will continue to be paid until each Holder has received aggregate payments in an amount equal to 1.25 times such Holder's investment amount (each such Holder's " Maximum Revenue Share Amount "). Revenue Definition: For any applicable calendar month, Company Gross Revenues will be an amount equal to all gross revenues from the sale of products or services by the Company or any parent, subsidiary, or affiliate of the Company during such calendar month as determined under US generally accepted accounting principles, consistently applied. Termination Date: In the event the Holder has not received the Maximum Revenue Share Amount prior to December 31, 2020 (the " Maturity Date "), the Company shall convert the Preferred Shares into Common A shares, on or before the Maturity Date, an amount equal to the Maximum Revenue Share Amount less the sum of all previous payments made by the Company to the Holder at the Market Price of the Common A shares. Manner of Payment: All such payments to the Holder shall be deposited into a bank account of the Holder's choosing at the time of investment, or any successor account thereto which may be established by the Holder, or provided via check to the Holder. The Holder will have an option not to receive cash payment in favor of future conversions into Common A shares. Overdue Payments: The Company shall be assessed a late payment charge at an annual rate equal to three percent (3%) of any Monthly Revenue Share Amount not paid within ten (10) business days of becoming due. This late payment charge is cumulative and assessed once per month from the due date until the date of payment thereof and shall accrue and be added to any balance of unpaid amounts subject to late payment. Forced Conversion: Preferred Shares may be Force Converted into Common A shares (with 5 business days' notice from the Issuer) an amount equal to the Maximum Revenue Share Amount less the sum of all previous payments made by the Company to the Holder at the Market Price of the Common A if and only if the Issuer's Common A stock is quoted on a national stock exchange such as Nasdaq or New York Stock Exchange. The terms and conditions set forth herein are subject to change, and this letter does not constitute an offer and are indicative and subject to change based on market conditions. Neither this term sheet nor any discussion or negotiation of the proposed transaction constitutes an agreement or obligation on the part of any person to purchase or sell securities of Issuer or enter into any agreement to purchase securities of Issuer. For more information about the offering or to receive a prospectus, please go to http://investors.epazz.com or [email protected] . About ZenaPay ( www.zenapay.com ) ZenaPay is being developed to solve a major problem in the "420 industry": getting paid. For cannabis-related businesses, the largest issue they face is how to be paid for their products. Traditional banking systems will not allow 420 industries access to their payment systems. ZenaPay will offer a cutting-edge payment solution that offers consumers a way to buy cannabis online or in stores using bitcoin. The new cannabis payment software will allow consumers to use the digital currency to make online or in-store purchases with ease. Additionally, the process will be anonymous because all transaction details are encrypted through bitcoin. This will allow stores to accept digital currency instead of only cash. About Epazz, Inc. ( www.epazz.com ) Epazz, Inc. is a leading cloud-based software company that specializes in providing customized cloud applications to the corporate world, higher-education institutions, and the public sector. Epazz BoxesOS™ v3.0 is the complete web-based business software package for small- to mid-sized businesses, Fortune 500 enterprises, government agencies, and higher-education institutions. BoxesOS provides many web-based applications that organizations must otherwise buy separately. Epazz's other products are AgentPower™, a workforce management software, and AutoHire™, an applicant-tracking system. SAFE HARBOR "Safe harbor" statements are protected under the Private Securities Litigation Reform Act of 1995: Certain statements contained in this press release are "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements generally can be identified by the use of such terms as "may," "expect," "intend," "estimate," "anticipate," "believe," "continue," or the negatives thereof or similar terminology. Such forward-looking statements are subject to risk, uncertainties, and other factors that could cause actual results to differ materially from future results or from results implied by such forward-looking statements. Investors are cautioned that any forward-looking statements are not guarantees of future performance and that actual results may differ materially from those contemplated by such forward-looking statements. Epazz, Inc. assumes no obligation, does not intend to update these forward-looking statements, and takes no obligation to update or correct information prepared by third parties that is not paid for by Epazz, Inc. Investors are encouraged to review Epazz's public filings on SEC.gov, including its unaudited and audited financial statements, Registration Statement, and Form 10-Ks and Form 10-Qs, which contain general business information about the Company's operations as well as results of operations and risks associated with the Company and its operations. \|\| First Bitcoin Capital Postpones Cryptocurrency Dividend; Dividend Declared and Will Accrue Pending Regulatory Approval: TEL AVIV, ISRAEL / ACCESSWIRE / October 4, 2017 /First Bitcoin Capital Corp.(OTC PINK: BITCF) (the "Company") announced today that payment of TeslaCoil Coins as a dividend to holders of the Company's common stock on the previously announced record date has been postponed pending finalization of a workable distribution plan and subject to receipt of required regulatory approval. On August 2, 2017, the Company announced that it would pay a dividend in the form of TeslaCoil Coins to shareholders and thereafter established a record date of September 12, 2017, with the payment of the dividend scheduled for September 29, 2017. However, the Company did not anticipate the complexity associated with developing a plan to ensure that payment of the cryptocurrency dividend is made available to all beneficial owners of the Company's common stock as of the record date and is working on various procedural and logistical distribution issues. The Company hopes to have a comprehensive distribution plan in place within the near future and will announce further details as they become available. During the interim, theTeslaCoil Coinspayable as dividends have been declared and deposited by the Company in a separate Omni digital wallet owned and controlled by the Company and will be held for the benefit of shareholders entitled to payment of the dividend. The Omni wallet in which the TeslaCoil Coin dividends have been deposited may be viewed at: http://omnichest.info/lookupadd.aspx?address=1GBDm1AbidQ3AVF24vTRSSZb1hUrrFp6Bh The TeslaCoil Coins earmarked for distribution as dividends will be held by the Company in its new Omni wallet until a final dividend distribution plan is in place and regulatory approval has been obtained by the Company. About First Bitcoin Capital Corp. First Bitcoin Capital Corp. is engaged in developing digital currencies, proprietary Blockchain technologies, and the digital currency exchange -www.CoinQX.com(in Beta). We see this step as a tremendous opportunity to create further shareholder value by leveraging management's experience in developing and managing complex Blockchain technologies and in developing new types of digital assets. Being the first publicly-traded cryptocurrency and blockchain-centered company, we want to provide our shareholders with diversified exposure to digital cryptocurrencies and blockchain technologies. Cautionary Note to Investors Investors and potential shareholders in the Company should carefully consider the high risks involved in speculating in our common stock both in the OTC markets as well as in the cryptocurrency markets and should be aware that the inventory of altcoins developed or maintained by the Company, while showing significant potential, is highly speculative and that such cryptocurrencies are extremely illiquid and only trade sporadically on small, foreign cryptocurrency exchanges. Forward-Looking Statements Certain statements contained in this press release may constitute "forward-looking statements." Forward-looking statements provide current expectations of future events based on certain assumptions and include any statement that does not directly relate to any historical or current fact. Actual results may differ materially from those indicated by such forward-looking statements as a result of various important factors as may be disclosed in company's filings. In addition to these factors, actual future performance, outcomes, and results may differ materially because of more general factors including (without limitation) general industry and market conditions and growth rates, economic conditions, and governmental and public policy changes. The forward-looking statements included in this press release represent the Company's views as of the date of this press release and these views could change. However, while the Company may elect to update these forward-looking statements at some point in the future, the Company specifically disclaims any obligation to do so. These forward-looking statements should not be relied upon as representing the Company's views as of any date subsequent to the date of the press release. Such forward-looking statements are risks that are detailed in the Company's filings, which are on file atwww.OTCMarkets.com. Contact us via:[email protected] visithttp://www.bitcoincapitalcorp.com SOURCE:First Bitcoin Capital Corp. \|\| First Bitcoin Capital Postpones Cryptocurrency Dividend; Dividend Declared and Will Accrue Pending Regulatory Approval: TEL AVIV, ISRAEL / ACCESSWIRE / October 4, 2017 /First Bitcoin Capital Corp.(OTC PINK: BITCF) (the "Company") announced today that payment of TeslaCoil Coins as a dividend to holders of the Company's common stock on the previously announced record date has been postponed pending finalization of a workable distribution plan and subject to receipt of required regulatory approval. On August 2, 2017, the Company announced that it would pay a dividend in the form of TeslaCoil Coins to shareholders and thereafter established a record date of September 12, 2017, with the payment of the dividend scheduled for September 29, 2017. However, the Company did not anticipate the complexity associated with developing a plan to ensure that payment of the cryptocurrency dividend is made available to all beneficial owners of the Company's common stock as of the record date and is working on various procedural and logistical distribution issues. The Company hopes to have a comprehensive distribution plan in place within the near future and will announce further details as they become available. During the interim, theTeslaCoil Coinspayable as dividends have been declared and deposited by the Company in a separate Omni digital wallet owned and controlled by the Company and will be held for the benefit of shareholders entitled to payment of the dividend. The Omni wallet in which the TeslaCoil Coin dividends have been deposited may be viewed at: http://omnichest.info/lookupadd.aspx?address=1GBDm1AbidQ3AVF24vTRSSZb1hUrrFp6Bh The TeslaCoil Coins earmarked for distribution as dividends will be held by the Company in its new Omni wallet until a final dividend distribution plan is in place and regulatory approval has been obtained by the Company. About First Bitcoin Capital Corp. First Bitcoin Capital Corp. is engaged in developing digital currencies, proprietary Blockchain technologies, and the digital currency exchange -www.CoinQX.com(in Beta). We see this step as a tremendous opportunity to create further shareholder value by leveraging management's experience in developing and managing complex Blockchain technologies and in developing new types of digital assets. Being the first publicly-traded cryptocurrency and blockchain-centered company, we want to provide our shareholders with diversified exposure to digital cryptocurrencies and blockchain technologies. Cautionary Note to Investors Investors and potential shareholders in the Company should carefully consider the high risks involved in speculating in our common stock both in the OTC markets as well as in the cryptocurrency markets and should be aware that the inventory of altcoins developed or maintained by the Company, while showing significant potential, is highly speculative and that such cryptocurrencies are extremely illiquid and only trade sporadically on small, foreign cryptocurrency exchanges. Forward-Looking Statements Certain statements contained in this press release may constitute "forward-looking statements." Forward-looking statements provide current expectations of future events based on certain assumptions and include any statement that does not directly relate to any historical or current fact. Actual results may differ materially from those indicated by such forward-looking statements as a result of various important factors as may be disclosed in company's filings. In addition to these factors, actual future performance, outcomes, and results may differ materially because of more general factors including (without limitation) general industry and market conditions and growth rates, economic conditions, and governmental and public policy changes. The forward-looking statements included in this press release represent the Company's views as of the date of this press release and these views could change. However, while the Company may elect to update these forward-looking statements at some point in the future, the Company specifically disclaims any obligation to do so. These forward-looking statements should not be relied upon as representing the Company's views as of any date subsequent to the date of the press release. Such forward-looking statements are risks that are detailed in the Company's filings, which are on file atwww.OTCMarkets.com. Contact us via:[email protected] visithttp://www.bitcoincapitalcorp.com SOURCE:First Bitcoin Capital Corp. \|\| First Bitcoin Capital Postpones Cryptocurrency Dividend; Dividend Declared and Will Accrue Pending Regulatory Approval: TEL AVIV, ISRAEL / ACCESSWIRE / October 4, 2017 / First Bitcoin Capital Corp. (OTC PINK: BITCF) (the "Company") announced today that payment of TeslaCoil Coins as a dividend to holders of the Company's common stock on the previously announced record date has been postponed pending finalization of a workable distribution plan and subject to receipt of required regulatory approval. On August 2, 2017, the Company announced that it would pay a dividend in the form of TeslaCoil Coins to shareholders and thereafter established a record date of September 12, 2017, with the payment of the dividend scheduled for September 29, 2017. However, the Company did not anticipate the complexity associated with developing a plan to ensure that payment of the cryptocurrency dividend is made available to all beneficial owners of the Company's common stock as of the record date and is working on various procedural and logistical distribution issues. The Company hopes to have a comprehensive distribution plan in place within the near future and will announce further details as they become available. During the interim, the TeslaCoil Coins payable as dividends have been declared and deposited by the Company in a separate Omni digital wallet owned and controlled by the Company and will be held for the benefit of shareholders entitled to payment of the dividend. The Omni wallet in which the TeslaCoil Coin dividends have been deposited may be viewed at: http://omnichest.info/lookupadd.aspx?address=1GBDm1AbidQ3AVF24vTRSSZb1hUrrFp6Bh The TeslaCoil Coins earmarked for distribution as dividends will be held by the Company in its new Omni wallet until a final dividend distribution plan is in place and regulatory approval has been obtained by the Company. About First Bitcoin Capital Corp. First Bitcoin Capital Corp. is engaged in developing digital currencies, proprietary Blockchain technologies, and the digital currency exchange - www.CoinQX.com (in Beta). We see this step as a tremendous opportunity to create further shareholder value by leveraging management's experience in developing and managing complex Blockchain technologies and in developing new types of digital assets. Being the first publicly-traded cryptocurrency and blockchain-centered company, we want to provide our shareholders with diversified exposure to digital cryptocurrencies and blockchain technologies. Story continues Cautionary Note to Investors Investors and potential shareholders in the Company should carefully consider the high risks involved in speculating in our common stock both in the OTC markets as well as in the cryptocurrency markets and should be aware that the inventory of altcoins developed or maintained by the Company, while showing significant potential, is highly speculative and that such cryptocurrencies are extremely illiquid and only trade sporadically on small, foreign cryptocurrency exchanges. Forward-Looking Statements Certain statements contained in this press release may constitute "forward-looking statements." Forward-looking statements provide current expectations of future events based on certain assumptions and include any statement that does not directly relate to any historical or current fact. Actual results may differ materially from those indicated by such forward-looking statements as a result of various important factors as may be disclosed in company's filings. In addition to these factors, actual future performance, outcomes, and results may differ materially because of more general factors including (without limitation) general industry and market conditions and growth rates, economic conditions, and governmental and public policy changes. The forward-looking statements included in this press release represent the Company's views as of the date of this press release and these views could change. However, while the Company may elect to update these forward-looking statements at some point in the future, the Company specifically disclaims any obligation to do so. These forward-looking statements should not be relied upon as representing the Company's views as of any date subsequent to the date of the press release. Such forward-looking statements are risks that are detailed in the Company's filings, which are on file at www.OTCMarkets.com . Contact us via: [email protected] or visit http://www.bitcoincapitalcorp.com SOURCE: First Bitcoin Capital Corp. \|\| The new age of ICOs is here, and it's not based on Ethereum: Mohit Mamoria Contributor Mohit Mamoria is a co-founder and CEO of GOD Token , which manages a hedge fund that invests exclusively in blockchain-based assets. More posts by this contributor From barter to blockchain: A history of money ICOs are said to be the new way to raise money. We’ve seen companies raising $100 million , $156 million , $185 million and even $232 million by selling tokens that will be used in the protocol that these companies have promised to build using this money. Against the money raised, the tokens they gave were created and sold on the Ethereum blockchain -- meaning that all the trade that took place happened on the Ethereum blockchain and the tokens created are tracked on the Ethereum blockchain. But that is changing. Smart contracts Ethereum’s mission of making blockchain more than a calculator has allowed them to invent the concept of smart contracts . You can think of smart contracts as a set of rules governing something, which cannot be modified ever in the future. They allow a developer to write anything in the form of a smart contract that gets executed by the network. Consider the example: If A and B place a bet about the next day's weather, the bet can be carried out in a trustless manner using a smart contract. Both of them can submit their betting amounts to the smart contract. At a predefined time on the next day, the contract will make an API call to the Open Weather API to see if the weather is sunny or rainy. Depending on the weather, the total amount will be sent to either of the two. Because this contract is no more than a software program and gets executed on a stranger’s computer, it had to be made sure that the programmer cannot exploit the stranger’s computer or the whole network. To fix the problem, Ethereum came up with its native programming language -- Solidity. Although the language is Turing-complete, which means any program can be written in it, there’s still a steep learning curve -- and the developer community is in its infancy. Story continues These two limitations have made Ethereum be perceived as merely an ICO platform, rather than a world computer. Besides these Ethereum-specific disadvantages, it also faces the problems of the blockchain in general -- slow speed and no native identity on the blockchain. But blockchains are evolving -- we are living in the first few years when the internet was invented. It’s slow, expensive, clunky; but hey, it’s the future! Is the future anywhere near? As a huge advocate of blockchain in general, I am quite excited by the research and development happening in the space. With recent developments, we are seeing new blockchains coming up in the industry that offer so much more: They make developers move to using these newer blockchains for building their decentralized apps and ICOs. I am particularly excited by development in the blockchains that allow general computations to happen in a decentralized manner. The newer generation of such blockchains offers much more than the ability to write smart contracts. Support for programming language When it comes to writing a smart contract, the biggest obstacle that I hear from the Ethereum developer community is the requirement to learn a new programming language. I agree that the syntax looks very similar to JavaScript, but it still is a different language and requires you to think of a problem with a different mindset. Tezos blockchain decided to go with a functional programming language for the smart contracts. Most developers are alien to functional programming and might find the learning curve steeper than Ethereum’s Solidity. Another blockchain, NEO , promises to offer support for .Net and Java to begin with, and eventually will allow programs written in Python and Go on its platform. With these four languages supported by NEO, it will already serve about 90 percent of the developer community from the get-go. Qtum is another blockchain that allows developers to write Ethereum-like smart contracts, but using Bitcoin’s UTXO format. In bitcoin, there’s no concept of an account and balance. Instead of tracking every account’s balance, the unspent transactions are tracked (the transactions that were sent to your wallet and are not spent yet). The sum of those transactions make up your balance. It is very efficient and lightweight to maintain these records as compared to accounts on an Ethereum-based model. Qtum thus allows for very lightweight smart contracts. It’s interesting to see how different blockchains are adopting various programming paradigms for their blockchains. Some are targeted toward consumers and some toward large enterprises. Native blockchain identity On the Ethereum blockchain, your identity is the public key whose private key you own. Every smart contract you deploy gets its own public address (identity). Unlike the pseudonymous model of Ethereum, blockchains like NEO offer users a native identity that can be used across the apps on the blockchain. Imagine if the internet had allowed every user to have a native identity, then you’d have never been required to create a separate one for every service you use on the internet. Some say blockchain is the new internet . There are several mental models in which to fit blockchain, and I, too, believe considering it as the new internet is not a bad analogy. A native identity on the blockchain will have a native identity that can be used to access anything that gets built on the blockchain. There are several teams working to solve the identity problem on blockchains. For instance, on Ethereum, Civic allows a user to record his/her identity that he/she can later use for other apps on the blockchain. I find blockchain-level native identity a worthy proposition because if there’s no native identity, the teams that are solving the identity problem will make the ecosystem fragmented. Consensus protocol The current generation of blockchains gets criticized for how much energy it consumes to power the network. The costs are high because of the consensus method Bitcoin or Ethereum blockchain uses. In any blockchain, periodically all the nodes in the network will have to agree to the updated state of the system. Because the nodes are geographically distributed and are not always keeping track of every other node in the network, they would be required to sync themselves and agree upon the new state of the network. Currently, the most popular consensus method is proof of work, where every node tries to claim the updated state of the network by solving a cryptographic puzzle. Whoever solves it first gets to tell the network what the updated state is. Everyone agrees to it and proceeds ahead. The disadvantages of this method are that it is slow and expensive. There are several solutions to this problem, with their own pros and cons. While Ethereum is on its way to move consensus to proof of stake, Qtum and Tezos launched with a version of a proof of stake consensus protocol from the start. Interesting is that Tezos goes a step ahead and offers a decentralized way of governance to adopt any major upgrades to the protocol. Every major upgrade is proposed and voted upon, making the hard forks theoretically rare. On the other hand, NEO uses a delegated Byzantine Fault Tolerance (dBFT) consensus mechanism that makes it possible to sync up the network a lot quicker without spending a lot of energy. It supports up to 10,000 transactions per second as compared to Ethereum’s 15 transactions per second. Blockchain is the future -- but how does the future look? Google wasn’t the first search engine, and Facebook wasn’t the first social network -- they were the best ones. We might see a similar trend when it comes to the blockchain world. Bitcoin and Ethereum have shown us something that we considered impossible before. But they are far from being perfect. While blockchain is the future, I do not believe the future is what we are living today. We are living among the experiments. What we see around us might be in ruins tomorrow. What we get as our future might not have been invented yet. With hopes still high and a sharp eye on the industry, I am waiting for the ultimate blockchain. Will it be Ethereum? Or NEO? Or Qtum? Or Tezos? Or something else? I don’t know. For now, I am excited to witness one of the largest shifts a human life can live through. Even if the future does not appear to be near, the future is not far either. \|\| The new age of ICOs is here, and it's not based on Ethereum: Mohit MamoriaContributor Mohit Mamoria is a co-founder and CEO ofGOD Token, which manages a hedge fund that invests exclusively in blockchain-based assets. More posts by this contributor • From barter to blockchain: A history of money ICOs are said to be the new way to raise money. We’ve seen companies raising$100 million,$156 million,$185 millionand even$232 millionby selling tokens that will be used in the protocol that these companies have promised to build using this money. Against the money raised, the tokens they gave were created and sold on the Ethereum blockchain -- meaning that all the trade that took place happened on the Ethereum blockchain and the tokens created are tracked on the Ethereum blockchain. But that is changing. Ethereum’s mission of making blockchain more than a calculator has allowed them to invent the concept ofsmart contracts. You can think of smart contracts as a set of rules governing something, which cannot be modified ever in the future. They allow a developer to write anything in the form of a smart contract that gets executed by the network. Consider the example: If A and B place a bet about the next day's weather, the bet can be carried out in a trustless manner using a smart contract. Both of them can submit their betting amounts to the smart contract. At a predefined time on the next day, the contract will make an API call to the Open Weather API to see if the weather is sunny or rainy. Depending on the weather, the total amount will be sent to either of the two. Because this contract is no more than a software program and gets executed on a stranger’s computer, it had to be made sure that the programmer cannot exploit the stranger’s computer or the whole network. To fix the problem, Ethereum came up with its native programming language -- Solidity. Although the language is Turing-complete, which means any program can be written in it, there’s still a steep learning curve -- and the developer community is in its infancy. These two limitations have made Ethereum be perceived as merely an ICO platform, rather than a world computer. Besides these Ethereum-specific disadvantages, it also faces the problems of the blockchain in general -- slow speed and no native identity on the blockchain. But blockchains are evolving -- we are living in the first few years when the internet was invented. It’s slow, expensive, clunky; but hey, it’s the future! As a huge advocate of blockchain in general, I am quite excited by the research and development happening in the space. With recent developments, we are seeing new blockchains coming up in the industry that offer so much more: They make developers move to using these newer blockchains for building their decentralized apps and ICOs. I am particularly excited by development in the blockchains that allow general computations to happen in a decentralized manner. The newer generation of such blockchains offers much more than the ability to write smart contracts. When it comes to writing a smart contract, the biggest obstacle that I hear from the Ethereum developer community is the requirement to learn a new programming language. I agree that the syntax looks very similar to JavaScript, but it still is a different language and requires you to think of a problem with a different mindset. Tezos blockchain decided to go with a functional programming language for the smart contracts. Most developers are alien to functional programming and might find the learning curve steeper than Ethereum’s Solidity. Another blockchain,NEO, promises to offer support for .Net and Java to begin with, and eventually will allow programs written in Python and Go on its platform. With these four languages supported by NEO, it will already serve about 90 percent of the developer community from the get-go. Qtumis another blockchain that allows developers to write Ethereum-like smart contracts, but using Bitcoin’s UTXO format. In bitcoin, there’s no concept of an account and balance. Instead of tracking every account’s balance, the unspent transactions are tracked (the transactions that were sent to your wallet and are not spent yet). The sum of those transactions make up your balance. It is very efficient and lightweight to maintain these records as compared to accounts on an Ethereum-based model. Qtum thus allows for very lightweight smart contracts. It’s interesting to see how different blockchains are adopting various programming paradigms for their blockchains. Some are targeted toward consumers and some toward large enterprises. On the Ethereum blockchain, your identity is the public key whose private key you own. Every smart contract you deploy gets its own public address (identity). Unlike the pseudonymous model of Ethereum, blockchains like NEO offer users a native identity that can be used across the apps on the blockchain. Imagine if the internet had allowed every user to have a native identity, then you’d have never been required to create a separate one for every service you use on the internet. Some sayblockchain is the new internet. There are several mental models in which to fit blockchain, and I, too, believe considering it as the new internet is not a bad analogy. A native identity on the blockchain will have a native identity that can be used to access anything that gets built on the blockchain. There are several teams working to solve the identity problem on blockchains. For instance, on Ethereum, Civic allows a user to record his/her identity that he/she can later use for other apps on the blockchain. I find blockchain-level native identity a worthy proposition because if there’s no native identity, the teams that are solving the identity problem will make the ecosystem fragmented. The current generation of blockchains gets criticized for how much energy it consumes to power the network. The costs are high because of the consensus method Bitcoin or Ethereum blockchain uses. In any blockchain, periodically all the nodes in the network will have to agree to the updated state of the system. Because the nodes are geographically distributed and are not always keeping track of every other node in the network, they would be required to sync themselves and agree upon the new state of the network. Currently, the most popular consensus method is proof of work, where every node tries to claim the updated state of the network by solving a cryptographic puzzle. Whoever solves it first gets to tell the network what the updated state is. Everyone agrees to it and proceeds ahead. The disadvantages of this method are that it is slow and expensive. There are several solutions to this problem, with their own pros and cons. While Ethereum is on its way to move consensus to proof of stake, Qtum and Tezos launched with a version of a proof of stake consensus protocol from the start. Interesting is that Tezos goes a step ahead and offers a decentralized way of governance to adopt any major upgrades to the protocol. Every major upgrade is proposed and voted upon, making the hard forks theoretically rare. On the other hand, NEO uses a delegated Byzantine Fault Tolerance (dBFT) consensus mechanism that makes it possible to sync up the network a lot quicker without spending a lot of energy. It supports up to 10,000 transactions per second as compared to Ethereum’s 15 transactions per second. Google wasn’t the first search engine, and Facebook wasn’t the first social network -- they were the best ones. We might see a similar trend when it comes to the blockchain world. Bitcoin and Ethereum have shown us something that we considered impossible before. But they are far from being perfect. While blockchain is the future, I do not believe the future is what we are living today. We are living among the experiments. What we see around us might be in ruins tomorrow. What we get as our future might not have been invented yet. With hopes still high and a sharp eye on the industry, I am waiting for the ultimate blockchain. Will it be Ethereum? Or NEO? Or Qtum? Or Tezos? Or something else? I don’t know. For now, I am excited to witness one of the largest shifts a human life can live through. Even if the future does not appear to be near, the future is not far either. \|\| Goldman CEO keeps open mind on digital currency bitcoin: By Aparajita Saxena and Olivia Oran (Reuters) - Goldman Sachs Group Inc (GS.N) Chief Executive Lloyd Blankfein said he is keeping an open mind on bitcoin after a media report that the investment bank was exploring a new trading operation dedicated to cryptocurrencies. "Still thinking about #Bitcoin. No conclusion - not endorsing/rejecting. Know that folks also were sceptical when paper money displaced gold," Blankfein tweeted on Tuesday. ( http://bit.ly/2xP543l ) The plan is in early stages and may not proceed, the Wall Street Journal report on Monday, citing people familiar with the matter. ( http://on.wsj.com/2xMdWq8 ) Blankfein's tweet is in sharp contrast to comments made by JPMorgan Chase & Co (JPM.N) CEO Jamie Dimon, who called bitcoin a "fraud." Bitcoin is a digital currency that enables individuals to transfer value to each other and pay for goods and services bypassing banks. The market is fraught with volatility, with bitcoin prices (BTC=BTSP) topping nearly $5,000 in early September and then declining sharply after Chinese authorities said they would ban the process of raising funds through launches of token-based digital currencies. Speaking at a bank investor conference in New York last month, Dimon said, "The currency isn't going to work. You can't have a business where people can invent a currency out of thin air and think that people who are buying it are really smart." "It is worse than tulips bulbs," Dimon said, referring to a famous market bubble from the 1600s. Goldman's arch rival Morgan Stanley (MS.N) spoke in favour of the currency, with CEO James Gorman calling it "more than just a fad." ( http://on.ft.com/2xMStNS ) Former Fortress Investment Group LLC executive Mike Novogratz is also starting a $500 million hedge fund to invest in digital currencies like bitcoin. (Reporting by Aparajita Saxena in Bengaluru and Olivia Oran in New York; Editing by Anil D'Silva and Lisa Shumaker) \|\| Goldman CEO keeps open mind on digital currency bitcoin: By Aparajita Saxena and Olivia Oran (Reuters) - Goldman Sachs Group Inc (GS.N) Chief Executive Lloyd Blankfein said he is keeping an open mind on bitcoin after a media report that the investment bank was exploring a new trading operation dedicated to cryptocurrencies. "Still thinking about #Bitcoin. No conclusion - not endorsing/rejecting. Know that folks also were sceptical when paper money displaced gold," Blankfein tweeted on Tuesday. ( http://bit.ly/2xP543l ) The plan is in early stages and may not proceed, the Wall Street Journal report on Monday, citing people familiar with the matter. ( http://on.wsj.com/2xMdWq8 ) Blankfein's tweet is in sharp contrast to comments made by JPMorgan Chase & Co (JPM.N) CEO Jamie Dimon, who called bitcoin a "fraud." Bitcoin is a digital currency that enables individuals to transfer value to each other and pay for goods and services bypassing banks. The market is fraught with volatility, with bitcoin prices (BTC=BTSP) topping nearly $5,000 in early September and then declining sharply after Chinese authorities said they would ban the process of raising funds through launches of token-based digital currencies. Speaking at a bank investor conference in New York last month, Dimon said, "The currency isn't going to work. You can't have a business where people can invent a currency out of thin air and think that people who are buying it are really smart." "It is worse than tulips bulbs," Dimon said, referring to a famous market bubble from the 1600s. Goldman's arch rival Morgan Stanley (MS.N) spoke in favour of the currency, with CEO James Gorman calling it "more than just a fad." ( http://on.ft.com/2xMStNS ) Former Fortress Investment Group LLC executive Mike Novogratz is also starting a $500 million hedge fund to invest in digital currencies like bitcoin. (Reporting by Aparajita Saxena in Bengaluru and Olivia Oran in New York; Editing by Anil D'Silva and Lisa Shumaker) \|\| Dow poised for 5-day winning streak: The Dow’s on track for a 5-day winning streak as stocks set record highs — again. Auto sales blowing out in September, but can the good times last for the Big 3? And, Wall Street’s coming on board with bitcoin, and now there’s a hedge fund that’s trading it. We’ve got the story. Catch The Final Round with Jen Rogers and markets reporter Nicole Sinclair. Winners and losers Stocks on the move lower include Ericsson (ERIC) as Credit Suisse downgraded the communications firm to underperform, The Tile Shop (TTS) as the specialty retailer warned on sales for the 3rd quarter, and Urban Outfitters (URBN) – shares slashed as Deutsche Bank downgraded shares to ‘sell’ citing valuation following a recent run-up in retail shares. Stocks in the green today include GM (GM) on strong September sales, Wayfair (W) on positive commentary from Piper Jaffray claiming the home furnishings site could see higher revenue growth than forecast, and Paychex (PAYX) – shares climbing higher as the payroll and HR services company beat on earnings and revenue in the last quarter. A hedge fund that trades only Bitcoin? It’s been called a bubble, a fraud and a scam. But do you need to take a closer look at Bitcoin? Even Goldman Sachs CEO Lloyd Blankfein tweeted today “Still thinking about Bitcoin. No conclusion – not endorsing/rejecting. Know that folks also were skeptical when paper money displaced gold.” Joining us now the CEO and founder of BitSpread, a cryptocurrency hedge fund. [Social Media Buzz] 2017-10-05 11:00~12:00のBitcoin市場はよこばいだったみたいだね。変化率は-0.0865% 13:00までは反騰かな? 直近の市場の平均Bitcoinの価格は476638.0円 #ビットコイン #bitcoin #AI \|\| One Bitcoin now worth $4234.98@bitstamp. High $4343.00. Low $4170.07. Market Cap $70.318 Billion #bitcoin pic.twitter.com/O6dK5G2hKk \|\| Sell! (5:30:22 pm PDT) Price: 4301.00 (+/- 0.5) Close: 4293.99 (+/- 0.5) Stop: 4304.00 (+/- 0.5) #gdax #coinbase #btc #trading #bitcoin \|\| #coincheck の5日22:00から直近2時間の変動率。値上がり率が1番大きかったのは $FCT で2.2%、値下がり率が1番大きいのは $BCH の-1.5%。 #BITCOIN $...	4370.81, 4426.89, 4610.48, 4772.02, 4781.99, 4826.48, 5446.91, 5647.21, 5831.79, 5678.19
Given the historical Bitcoin prices from the last 90 days, predict the next 10 daily closing prices. The historical prices are: 417.96, 420.87, 420.90, 421.44, 424.03, 423.41, 422.74, 420.35, 419.41, 421.56, 422.48, 425.19, 423.73, 424.28, 429.71, 430.57, 427.40, 428.59, 435.51, 441.39, 449.42, 445.74, 450.28, 458.55, 461.43, 466.09, 444.69, 449.01, 455.10, 448.32, 451.88, 444.67, 450.30, 446.72, 447.98, 459.60, 458.54, 458.55, 460.48, 450.89, 452.73, 454.77, 455.67, 455.67, 457.57, 454.16, 453.78, 454.62, 438.71, 442.68, 443.19, 439.32, 444.15, 445.98, 449.60, 453.38, 473.46, 530.04, 526.23, 533.86, 531.39, 536.92, 537.97, 569.19, 572.73, 574.98, 585.54, 576.60, 581.65, 574.63, 577.47, 606.73, 672.78, 704.38, 685.56, 694.47, 766.31, 748.91, 756.23, 763.78, 737.23, 666.65, 596.12, 623.98, 665.30, 665.12, 629.37, 655.28, 647.00, 639.89.	[Bitcoin Technical Analysis for 2016-06-29] Volume: 142456000, RSI (14-day): 50.78, 50-day EMA: 591.05, 200-day EMA: 468.78 [Wider Market Context] Gold Price: 1323.90, Gold RSI: 67.40 Oil Price: 49.88, Oil RSI: 56.25 [Recent News (last 7 days)] ETF Strategies in a Post Brexit World: After a seven year bull run and an increased uncertainty, people may expect the equities market will more likely pullback and give up some of its gains. Consequently, traders have turned to bearish or inverse exchange traded fund strategies to hedge against turns in a more volatile market. On an upcoming webcast this Wednesday, Sector Strategies in a Post Brexit World , Tom Dorsey, Co-Founder of Dorsey, Wright & Associates, and Sylvia Jablonski, Managing Director and Head of the Capital Markets & Institutional Strategy Team at Direxion, will discuss hedging strategies to manage a rougher road ahead. According to Jefferson Nationals second annual Advisory Authority Survey, financial advisors see ongoing volatility as one of the top macro issues that will adversely affect client portfolios over the next year, ThinkAdvisor reports. Related: VIX, Bearish S&P 500 ETFs to Hedge Uncertainty Specifically, 76% of RIAs and fee-based advisors, 89% of the highest earning advisors and 63% of investors in the survey expected volatility to rise in the coming year as both U.S. politics and domestic and international economics exacerbate the uncertain outlook. Among the top concerns, those surveyed pointed to energy prices, Federal Reserve policy, U.S. presidential election and Chinese instability. When it comes to investing, protecting clients portfolios and protecting their own practice, ongoing volatility remains the number one concern of RIAs and fee-based advisors year over year while investors are aware of volatilitys impact, they say that protecting assets is their number-one concern, Jefferson National president Laurence Greenberg said in a statement. Trending on ETF Trends As Q3 Begins, Gold Miner ETFs Keep Shining Winklevoss Bitcoin ETF Will Trade on BATS Another Rally Looms for Gold ETFs How to Hedge Market Turns with Inverse ETFs Brexit Weighs on Big Oil ETFs Among those surveyed 48% of all RIAs and fee-based advisors looked to ETFs and alternative mutual funds as their number one solution in todays volatile markets. Additionally, 60% of high earning advisors pointed to liquid alternatives. Story continues ETF traders also have a number of liquid alternative strategies to choose from. For instance, the Direxion Daily S&P Biotech Bear 1X Shares ( LABS ) , Direxion Daily Financial Bear 1x Shares ( FAZZ ) and Direxion Daily Energy Bear 1x Shares ( ERYY ) provide inverse or -100% exposure to some of the more volatile areas of the market this year. Related: ETF Traders Look Beyond Brexit to China Risk LABS may be a good way for investors to hedge against further selling in the biotech sector as political rhetoric puts a spotlight on pharmaceutical treatment prices and the growth play sours. FAZZ could be used to hedge against the Brexit fallout and potentially extended low-rate environment, which could weigh on the financial sector. Any further concerns on global growth and oil prices could also help traders hedge against a weakening energy sector with ERYY. Financial advisors who are interested in learning more about sector strategies can register for the Wednesday, June 29 webcast here . \|\| ETF Strategies in a Post Brexit World: After a seven year bull run and an increased uncertainty, people may expect the equities market will more likely pullback and give up some of its gains. Consequently, traders have turned to bearish or inverse exchange traded fund strategies to hedge against turns in a more volatile market. On an upcoming webcast this Wednesday,Sector Strategies in a Post Brexit World, Tom Dorsey, Co-Founder of Dorsey, Wright & Associates, and Sylvia Jablonski, Managing Director and Head of the Capital Markets & Institutional Strategy Team at Direxion, will discuss hedging strategies to manage a rougher road ahead. According to Jefferson National’s second annual Advisory Authority Survey, financial advisors see ongoing volatility as one of the top macro issues that will adversely affect client portfolios over the next year, ThinkAdvisor reports. Related:VIX, Bearish S&P 500 ETFs to Hedge Uncertainty Specifically, 76% of RIAs and fee-based advisors, 89% of the highest earning advisors and 63% of investors in the survey expected volatility to rise in the coming year as both U.S. politics and domestic and international economics exacerbate the uncertain outlook. Among the top concerns, those surveyed pointed to energy prices, Federal Reserve policy, U.S. presidential election and Chinese instability. “When it comes to investing, protecting clients’ portfolios and protecting their own practice, ongoing volatility remains the number one concern of RIAs and fee-based advisors year over year — while investors are aware of volatility’s impact, they say that protecting assets is their number-one concern,” Jefferson National president Laurence Greenberg said in a statement. Trending on ETF Trends As Q3 Begins, Gold Miner ETFs Keep Shining Winklevoss Bitcoin ETF Will Trade on BATS Another Rally Looms for Gold ETFs How to Hedge Market Turns with Inverse ETFs Brexit Weighs on Big Oil ETFs Among those surveyed 48% of all RIAs and fee-based advisors looked to ETFs and alternative mutual funds as their number one solution in today’s volatile markets. Additionally, 60% of high earning advisors pointed to liquid alternatives. ETF traders also have a number of liquid alternative strategies to choose from. For instance, theDirexion Daily S&P Biotech Bear 1X Shares (LABS), Direxion Daily Financial Bear 1x Shares (FAZZ) and Direxion Daily Energy Bear 1x Shares (ERYY) provide inverse or -100% exposure to some of the more volatile areas of the market this year. Related:ETF Traders Look Beyond Brexit to China Risk LABS may be a good way for investors to hedge against further selling in the biotech sector as political rhetoric puts a spotlight on pharmaceutical treatment prices and the growth play sours. FAZZ could be used to hedge against the Brexit fallout and potentially extended low-rate environment, which could weigh on the financial sector. Any further concerns on global growth and oil prices could also help traders hedge against a weakening energy sector with ERYY. Financial advisors who are interested in learning more about sector strategies canregister for the Wednesday, June 29 webcast here. \|\| British bitcoin market sent extraordinary signals ahead of the Brexit vote: The price of the digital currency bitcoin rose 6.5% in the 24 hours directly after Britain voted to leave the European Union. And while the coin had already been on a ride over the two weeks before the vote (it's up 25% in the last month), for a number of factors besides the Brexit , it is likely that uncertainty over the situation stoked interest in the cryptocurrency, which is seen as an investment asset uncorrelated to the broader economy. Bitcoin price over the past month from Winkdex, including Coinbase data. Note the spike after the Brexit vote, but also the much larger spike well before the vote. New data from Coinbase, which offers the leading bitcoin wallet and a popular bitcoin exchange, proves that the prospect of Brexit had an impact on bitcoin even before the referendum vote. In the week leading up to the vote (June 13-20), Coinbase saw a 55% increase in new account sign-ups from Great Britain, and a 350% increase in bitcoin purchases from UK customers. On the day of the Brexit vote, Coinbase saw an 86% increase in Great Britain signups. It's one of the largest spikes in activity Coinbase has ever seen from one region in one week. The British bitcoin bump is a reminder, a Coinbase spokesperson says, that b itcoin "has long been a hedge against turmoil in Greece, capital controls in China, and macro-economic issues." Indeed, many compare the coin to gold as an investment vehicle. The current market cap of all bitcoins is $10.1 billion. Coinbase, founded in 2012, has 4 million users and is now operable in 32 countries. It launched in the UK just one year ago , giving Brits the ability to buy bitcoin using pounds, euros or dollars. In the US, it recently added the ability for customers to buy bitcoin instantly using a debit card, making it even easier to buy up coin. Expect the fervor around Brexit to show a continued impact on the price of bitcoin. For a conversation with Coinbase cofounder Fred Ehrsam, watch the above video. -- Daniel Roberts is a writer at Yahoo Finance, covering sports business and technology. Follow him on Twitter at @ readDanwrite . Read more of Yahoo Finances Brexit coverage: Story continues The latest Bitcoin price hike is not all about Brexit This crazy Brexit flowchart shows how the UK could still remain in the EU Brexit might not be so bad for... Burberry Harry Potter author JK Rowling unleashes fury at Brexit voters \|\| British bitcoin market sent extraordinary signals ahead of the Brexit vote: The price of the digital currency bitcoin rose 6.5% in the 24 hours directly after Britain voted to leave the European Union. And while the coin had already been on a ride over the two weeks before the vote (it's up 25% in the last month),for a number of factors besides the Brexit, it is likely that uncertainty over the situation stoked interest in the cryptocurrency, which is seen as an investment asset uncorrelated to the broader economy. New data from Coinbase, which offers the leading bitcoin wallet and a popular bitcoin exchange, proves that the prospect of Brexit had an impact on bitcoin even before the referendum vote. In the week leading up to the vote (June 13-20),Coinbase saw a55% increase in new account sign-ups from Great Britain, and a 350% increase in bitcoin purchases from UK customers. On the day of the Brexit vote, Coinbase saw an 86% increase in Great Britain signups. It's one of the largest spikes in activity Coinbase has ever seen from one region in one week. The British bitcoin bump is a reminder, a Coinbase spokesperson says, that bitcoin "has long been a hedge against turmoil in Greece, capital controls in China, and macro-economic issues." Indeed, many compare the coin to gold as an investment vehicle. The current market cap of all bitcoins is $10.1 billion. Coinbase, founded in 2012, has 4 million users and is now operable in 32 countries. Itlaunched in the UK just one year ago, giving Brits the ability to buy bitcoin using pounds, euros or dollars. In the US, it recentlyadded the ability for customers to buy bitcoin instantly using a debit card, making it even easier to buy up coin. Expect the fervor around Brexit to show a continued impact on the price of bitcoin. For a conversation with Coinbase cofounder Fred Ehrsam, watch the above video. -- Daniel Roberts is a writer at Yahoo Finance, covering sports business and technology. Follow him on Twitter at @readDanwrite. Read more of Yahoo Finance’s Brexit coverage: The latest Bitcoin price hike is not all about Brexit This crazy Brexit flowchart shows how the UK could still remain in the EU Brexit might not be so bad for... Burberry Harry Potter author JK Rowling unleashes fury at Brexit voters \|\| WRIT Media Group Launches Bitcoin Alternative, Pelecoin: LOS ANGELES, CA--(Marketwired - Jun 27, 2016) - WRIT Media Group, Inc. (OTCQB:WRIT) today announces the formal launch of Pelecoin -- a unique digital currency and the first product in a family of unprecedented cryptocurrency and Blockchain technology solutions, acquired through the previously announced Pandora Venture Capital transaction. "We are pleased to introduce to market our unique Pelecoin technology, and look forward to the potential it creates not only for WRIT Media and company shareholders, but for the broader digital currency space as well," said president and CEO Eric Mitchell. "There are several advantageous ways Pelecoin differs from other digital currencies on the market, and we're excited to be part of the many advances taking place in cryptocurrency." What is PELECOIN and why is it different? Pelecoin is a cryptocurrency platform that provides secure digital currency products and services -- including wallets, exchanges, loyalty rewards, and merchant integration -- to consumers and businesses around the globe. The online platform allows users to send money to any Pelecoin wallet; send and receive Pelecoins; shop online; and to store Pelecoins. The platform also enables merchants and payment platforms to accept Pelecoin digital currency. In the current digital currency landscape, "rules of emission" prevent existing digital currencies from becoming more widely distributed and used. All known systems generate new coins (emission) in a manner that disregards the currency's market value. For example, Bitcoin generates 5 coins per minute while Litecoin generates 25 coins per minute, on a permanent basis without regard to the current value of the currency. Additionally, new coins are distributed between active users (miners) whose computers participate in the generation process. This model obligates the users to have not only a very deep knowledge of software programming, but also expensive computer equipment. As time passes, the process becomes more sophisticated and expensive, and less accessible to new miners. Pelecoin's emission system differs in that it is based on a simple proprietary algorithm, making it accessible to all and clear to its users. The system generates Pelecoins based upon a set of rules and events that increase the currency's worth, such as: new user registration; acceptance of Pelecoin for real goods or services; and trade between Pelecoins and real currencies (USD, Euro, etc.). The initial distribution of newly generated coins is based on user's participation in an event. The emission and distribution of coins follow simple rules, allowing unexperienced users to actively participate in the process and to earn significant amounts of coin in a short period of time. Instead of complicated searches for crypto configurations demanded by other crypto currency systems, Pelecoin automatically increases your account based upon your participation in a simple "value" event. How Does PELECOIN Work? New users can register online for Pelecoin, as well as fund their wallet and gain access to the platform's services, by completing a simple new user registration here:Pelecoin Registration(http://www.pelecoin.com/join.aspx?ref=bb3b24dd-dd9f-44d9-838d-0bcd5e902c33). The main dashboard includes terms of service, emission rules, frequently asked questions, and the user's Pelecoin account balance. The dashboard will also provide users with their own account ID, and describe ways to facilitate "value" events to increase their account balance. Each new user will receive 1,000 Pelecoins to get started. About Writ Media Group WRIT Media Group, Inc. (OTCQB:WRIT) is a diversified media and software company whose operations include content production and distribution; video game distribution via mobile platforms; and digital currency software development, including trading platforms and Blockchain solutions. The Company's portfolio of wholly owned businesses includes: • Front Row Networks, a content creation company which produces, acquires and distributes live event programming for worldwide digital broadcast into digitally enabled movie theaters and online streaming; • Amiga Games, a software company resurrecting the Amiga brand by publishing retro video games on smartphones, tablets and consoles; • Retro Infinity, Inc., a video game distribution portal which publishes video games from Amiga, Atari and other "retro" brands on today's smartphones, tablets and consoles; and • Pandora Venture Capital, a software developer with a focus on digital currency technologies, including; a cryptocurrency trading platform, a new generation of cryptocurrency, and Blockchain technology solutions. Cautionary Note Regarding Forward-Looking StatementsExcept for the historical information contained herein, the matters discussed in this press release are forward-looking statements that involve risks and uncertainties that could cause actual results to differ materially from those predicted by such forward-looking statements.Investors are cautioned that all forward-looking statements involve risks and uncertainties, including, but not limited to, those discussed in WRIT Media Group's latest 10-Q filed December 31, 2015. The company undertakes no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events or otherwise. Pandora Venture Capital Corp., Pelecoin and its related trademarks and names are the property of WRIT Media Group, Inc. and are registered and/or used in the U.S. and countries around the world. All rights reserved. All other trademarks belong to their respective owners. \|\| WRIT Media Group Launches Bitcoin Alternative, Pelecoin: LOS ANGELES, CA--(Marketwired - Jun 27, 2016) - WRIT Media Group, Inc. ( OTCQB : WRIT ) today announces the formal launch of Pelecoin -- a unique digital currency and the first product in a family of unprecedented cryptocurrency and Blockchain technology solutions, acquired through the previously announced Pandora Venture Capital transaction. "We are pleased to introduce to market our unique Pelecoin technology, and look forward to the potential it creates not only for WRIT Media and company shareholders, but for the broader digital currency space as well," said president and CEO Eric Mitchell. "There are several advantageous ways Pelecoin differs from other digital currencies on the market, and we're excited to be part of the many advances taking place in cryptocurrency." What is PELECOIN and why is it different? Pelecoin is a cryptocurrency platform that provides secure digital currency products and services -- including wallets, exchanges, loyalty rewards, and merchant integration -- to consumers and businesses around the globe. The online platform allows users to send money to any Pelecoin wallet; send and receive Pelecoins; shop online; and to store Pelecoins. The platform also enables merchants and payment platforms to accept Pelecoin digital currency. In the current digital currency landscape, "rules of emission" prevent existing digital currencies from becoming more widely distributed and used. All known systems generate new coins (emission) in a manner that disregards the currency's market value. For example, Bitcoin generates 5 coins per minute while Litecoin generates 25 coins per minute, on a permanent basis without regard to the current value of the currency. Additionally, new coins are distributed between active users (miners) whose computers participate in the generation process. This model obligates the users to have not only a very deep knowledge of software programming, but also expensive computer equipment. As time passes, the process becomes more sophisticated and expensive, and less accessible to new miners. Story continues Pelecoin's emission system differs in that it is based on a simple proprietary algorithm, making it accessible to all and clear to its users. The system generates Pelecoins based upon a set of rules and events that increase the currency's worth, such as: new user registration; acceptance of Pelecoin for real goods or services; and trade between Pelecoins and real currencies (USD, Euro, etc.). The initial distribution of newly generated coins is based on user's participation in an event. The emission and distribution of coins follow simple rules, allowing unexperienced users to actively participate in the process and to earn significant amounts of coin in a short period of time. Instead of complicated searches for crypto configurations demanded by other crypto currency systems, Pelecoin automatically increases your account based upon your participation in a simple "value" event. How Does PELECOIN Work? New users can register online for Pelecoin, as well as fund their wallet and gain access to the platform's services, by completing a simple new user registration here: Pelecoin Registration ( http://www.pelecoin.com/join.aspx?ref=bb3b24dd-dd9f-44d9-838d-0bcd5e902c33 ). The main dashboard includes terms of service, emission rules, frequently asked questions, and the user's Pelecoin account balance. The dashboard will also provide users with their own account ID, and describe ways to facilitate "value" events to increase their account balance. Each new user will receive 1,000 Pelecoins to get started. About Writ Media Group WRIT Media Group, Inc. ( OTCQB : WRIT ) is a diversified media and software company whose operations include content production and distribution; video game distribution via mobile platforms; and digital currency software development, including trading platforms and Blockchain solutions. The Company's portfolio of wholly owned businesses includes: Front Row Networks, a content creation company which produces, acquires and distributes live event programming for worldwide digital broadcast into digitally enabled movie theaters and online streaming; Amiga Games, a software company resurrecting the Amiga brand by publishing retro video games on smartphones, tablets and consoles; Retro Infinity, Inc., a video game distribution portal which publishes video games from Amiga, Atari and other "retro" brands on today's smartphones, tablets and consoles; and Pandora Venture Capital, a software developer with a focus on digital currency technologies, including; a cryptocurrency trading platform, a new generation of cryptocurrency, and Blockchain technology solutions. Cautionary Note Regarding Forward-Looking Statements Except for the historical information contained herein, the matters discussed in this press release are forward-looking statements that involve risks and uncertainties that could cause actual results to differ materially from those predicted by such forward-looking statements. Investors are cautioned that all forward-looking statements involve risks and uncertainties, including, but not limited to, those discussed in WRIT Media Group's latest 10-Q filed December 31, 2015. The company undertakes no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events or otherwise. Pandora Venture Capital Corp., Pelecoin and its related trademarks and names are the property of WRIT Media Group, Inc. and are registered and/or used in the U.S. and countries around the world. All rights reserved. All other trademarks belong to their respective owners. \|\| WRIT Media Group Launches Bitcoin Alternative, Pelecoin: LOS ANGELES, CA--(Marketwired - Jun 27, 2016) - WRIT Media Group, Inc. (OTCQB:WRIT) today announces the formal launch of Pelecoin -- a unique digital currency and the first product in a family of unprecedented cryptocurrency and Blockchain technology solutions, acquired through the previously announced Pandora Venture Capital transaction. "We are pleased to introduce to market our unique Pelecoin technology, and look forward to the potential it creates not only for WRIT Media and company shareholders, but for the broader digital currency space as well," said president and CEO Eric Mitchell. "There are several advantageous ways Pelecoin differs from other digital currencies on the market, and we're excited to be part of the many advances taking place in cryptocurrency." What is PELECOIN and why is it different? Pelecoin is a cryptocurrency platform that provides secure digital currency products and services -- including wallets, exchanges, loyalty rewards, and merchant integration -- to consumers and businesses around the globe. The online platform allows users to send money to any Pelecoin wallet; send and receive Pelecoins; shop online; and to store Pelecoins. The platform also enables merchants and payment platforms to accept Pelecoin digital currency. In the current digital currency landscape, "rules of emission" prevent existing digital currencies from becoming more widely distributed and used. All known systems generate new coins (emission) in a manner that disregards the currency's market value. For example, Bitcoin generates 5 coins per minute while Litecoin generates 25 coins per minute, on a permanent basis without regard to the current value of the currency. Additionally, new coins are distributed between active users (miners) whose computers participate in the generation process. This model obligates the users to have not only a very deep knowledge of software programming, but also expensive computer equipment. As time passes, the process becomes more sophisticated and expensive, and less accessible to new miners. Pelecoin's emission system differs in that it is based on a simple proprietary algorithm, making it accessible to all and clear to its users. The system generates Pelecoins based upon a set of rules and events that increase the currency's worth, such as: new user registration; acceptance of Pelecoin for real goods or services; and trade between Pelecoins and real currencies (USD, Euro, etc.). The initial distribution of newly generated coins is based on user's participation in an event. The emission and distribution of coins follow simple rules, allowing unexperienced users to actively participate in the process and to earn significant amounts of coin in a short period of time. Instead of complicated searches for crypto configurations demanded by other crypto currency systems, Pelecoin automatically increases your account based upon your participation in a simple "value" event. How Does PELECOIN Work? New users can register online for Pelecoin, as well as fund their wallet and gain access to the platform's services, by completing a simple new user registration here:Pelecoin Registration(http://www.pelecoin.com/join.aspx?ref=bb3b24dd-dd9f-44d9-838d-0bcd5e902c33). The main dashboard includes terms of service, emission rules, frequently asked questions, and the user's Pelecoin account balance. The dashboard will also provide users with their own account ID, and describe ways to facilitate "value" events to increase their account balance. Each new user will receive 1,000 Pelecoins to get started. About Writ Media Group WRIT Media Group, Inc. (OTCQB:WRIT) is a diversified media and software company whose operations include content production and distribution; video game distribution via mobile platforms; and digital currency software development, including trading platforms and Blockchain solutions. The Company's portfolio of wholly owned businesses includes: • Front Row Networks, a content creation company which produces, acquires and distributes live event programming for worldwide digital broadcast into digitally enabled movie theaters and online streaming; • Amiga Games, a software company resurrecting the Amiga brand by publishing retro video games on smartphones, tablets and consoles; • Retro Infinity, Inc., a video game distribution portal which publishes video games from Amiga, Atari and other "retro" brands on today's smartphones, tablets and consoles; and • Pandora Venture Capital, a software developer with a focus on digital currency technologies, including; a cryptocurrency trading platform, a new generation of cryptocurrency, and Blockchain technology solutions. Cautionary Note Regarding Forward-Looking StatementsExcept for the historical information contained herein, the matters discussed in this press release are forward-looking statements that involve risks and uncertainties that could cause actual results to differ materially from those predicted by such forward-looking statements.Investors are cautioned that all forward-looking statements involve risks and uncertainties, including, but not limited to, those discussed in WRIT Media Group's latest 10-Q filed December 31, 2015. The company undertakes no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events or otherwise. Pandora Venture Capital Corp., Pelecoin and its related trademarks and names are the property of WRIT Media Group, Inc. and are registered and/or used in the U.S. and countries around the world. All rights reserved. All other trademarks belong to their respective owners. \|\| What the Brexit means for your retirement: Brexit and the chaos it unleashed in financial markets are no reason for investors with a sound financial plan to panic. That’s the word from Ric Edelman, who runs one of America’s top financial advisory firms. Stocks ( ^DJI , ^IXIC , ^GSPC ) tanked on Friday, with all three major indexes plunging three to four percent. Investors turned to classic safe havens, sending gold prices ( GCN16.CMX ) soaring and bond yields ( ^TNX ) sharply lower. U.S. stocks are pointing to a slightly lower open Monday after mixed results in Europe and Asia overnight. “This is a classic knee-jerk reaction from Wall Street traders,” Edelman tells Yahoo Finance about the Brexit selloff in stocks . “Our clients are focused on their long-term goals. There will be no sustained impact five years from now. They can ignore it, or if anything, capitalize.” Edelman Financial Services manages $16 billion for more than 30,000 clients. Edelman says given Brexit, the US presidential election and other worries, investors should expect market volatility for a while. In response to wild market swings, his strong advice is “do not change your long-term investment strategy.” Edelman says his clients will take advantage of the volatility to rebalance their portfolios, selling assets that have appreciated in value and adding assets like stocks that have suffered declines. “This represents investment opportunity,” he said. Unfortunately, Edelman says, many investors will do exactly the opposite and dump stocks when they’re falling. “Nobody knows how low is low, and nobody knows what the market is going to do to. Trying to time the market is a fool’s bet , and that’s precisely what a lot of people try to do.” That said, Edelman says events like the Brexit vote and the market’s reaction are a good time for people who need to get their financial houses in order to take action and to avoid making mistakes. “If you don’t have a long term strategy, if you’re not properly diversified, this is the time to get effective financial advice,” Edelman says. “Investors could act on impulse and do the very wrong thing at the very wrong time.” Story continues More from Yahoo Finance The Brexit vote could bring uncertainty to America's scotch imports The big question looming over the markets after the Brexit bombshell The newest Bitcoin price surge isn’t just about Brexit \|\| What the Brexit means for your retirement: Brexit and the chaos it unleashed in financial markets are no reason for investors with a sound financial plan to panic. That’s the word from Ric Edelman, who runs one of America’s top financial advisory firms. Stocks (^DJI,^IXIC,^GSPC) tanked on Friday, with all three major indexes plunging three to four percent. Investors turned to classic safe havens, sending gold prices (GCN16.CMX) soaring and bond yields (^TNX) sharply lower. U.S. stocks are pointing to a slightly lower open Monday after mixed results in Europe and Asia overnight. “This is a classic knee-jerk reaction from Wall Street traders,” Edelman tells Yahoo Finance about theBrexit selloff in stocks. “Our clients are focused on their long-term goals. There will be no sustained impact five years from now. They can ignore it, or if anything, capitalize.” Edelman Financial Services manages $16 billion for more than 30,000 clients. Edelman says given Brexit, theUS presidential electionand other worries, investors should expect market volatility for a while. In response to wild market swings, his strong advice is “do not change your long-term investment strategy.” Edelman says his clients will take advantage of the volatility to rebalance their portfolios, selling assets that have appreciated in value and adding assets like stocks that have suffered declines. “This represents investment opportunity,” he said. Unfortunately, Edelman says, many investors will do exactly the opposite and dump stocks when they’re falling. “Nobody knows how low is low, and nobody knows what the market is going to do to.Trying to time the market is a fool’s bet, and that’s precisely what a lot of people try to do.” That said, Edelman says events like the Brexit vote and the market’s reaction are a good time for people who need to get their financial houses in order to take action and to avoid making mistakes. “If you don’t have a long term strategy, if you’re not properly diversified, this is the time to get effective financial advice,” Edelman says. “Investors could act on impulse and do the very wrong thing at the very wrong time.” More from Yahoo Finance The Brexit vote could bring uncertainty to America's scotch imports The big question looming over the markets after the Brexit bombshell The newest Bitcoin price surge isn’t just about Brexit \|\| Chinas Cyber Spying on the U.S. Has Drastically Changed: Last year United States President Barack Obama and Chinese President Xi Jinping entered into a dubious agreement during Xis first state visit: No more hacking one anothers businesses. Military and political espionage? Fair game. Industry? Hands off. Hackers allegedly sponsored by China had been ransacking U.S. companies for economic advantage for years, as any computer forensics pro who has helped clean up one of these data breaches will tell you. The hackers goal: Intellectual property theft. With the recent truce, the heads of state agreed that their countries could break into one anothers computer networks for traditional state on state espionage, but no more hacking for profit. For skeptics, heres the shocker: The parties appear to be keeping their word--for the most part. Cybersecurity firm FireEye released a report earlier this week that found that the number of breaches by China-based groups on U.S. businesses has dropped off a cliff. The number of network compromises has not fallen to zero, but it has plummeted 90% in the past two years . Get Data Sheet , Fortune 's technology newsletter. Fortune spoke to Laura Galante, director of the threat intelligence at FireEye , as well as Kevin Mandia, the companys recently appointed CEO, about the reports findings. (Mandia makes his appearance at question 12.) Among the topics discussed: How the threat of economic espionage has changed, what this means for U.S. businesses, and whether everyone may now breathe a sigh of relief. (Spoiler: The answer is no.) Heres what the two said, edited and condensed for clarity. Fortune: This report seems to be a follow-up to Mandiants original report on Chinese economic cyberespionage from a few years ago. [Editors note: FireEye purchased Mandiant, Mandias computer forensics firm, for about $1 billion in 2014.] What does the new report find? Laura Galante: We've tracked all of these groups for years before the APT1 report that you probably remember from back in 2013. Here we found the percentage of incidents and number of incidents we've seen over time from groups that are based in China, and how thats changed. We came up with a pretty deep understanding of how we've seen President Xi undertake reforms in the military and also in the party since he came to power. We have some analysis around how he is probably centralizing and refocusing some of the cyber operations that China sponsored. We also think that widespread exposure from private sector disclosures was another impetus that really changed how Beijing was thinking about cyber operations. Finally the punitive measures--the indictments of several military officers back in 2014, and then the threat of sanctions right on the eve of President Xi coming over to the U.S--these were all factors that, in the aggregate, have really changed the way we've seen intellectual property theft conducted from China based groups. Story continues Fortune: It seemed like the key line in the report was that the attacks are less voluminous, but more focused. Galante: Thats what we're seeing. When we do see compromises--and we have seen compromises since last year--we're seeing the groups conduct a variety of different activity at different targets, not just in the U.S., but also in Japan and abroad in Europe. We're seeing compromises of networks still. What we aren't seeing is data theft at such a volume as before--back in 2013, even 2014. We're seeing that they'll go in and they'll package up data, which is something that we typically see right before they would steal it, but we haven't observed instances of data theft, per se, in 2015 and 2016. Fortune: You're still seeing intrusions and breaches, but not the actual exfiltration of data. Is that accurate? Galante: That's right. What that doesn't necessarily mean is that it's not happening. We're not seeing the actual data theft in the recent examples that we've had here, but we're still seeing the compromise. If you're able to compromise the network, get in, move laterally to different parts of the network, and see the files that you want, that's still a very effective way to get at the information you want without the level of risk and evidence left behind of actually transferring the data out of a network. Fortune: So its a shift from smashing-and-grabbing to quietly and passively surveilling? Galante: That's a way to characterize what we've seen. And I think that fits too with what's definitely a higher cost of doing business that has risen in the last three and a half years. The risk of exposure from security firms, from security researchers, which is happening left and right, and the measures that the U.S. government has taken, paint a very different picture of risk when groups are operating--whether they be sponsored by the government, by a military entity, by an intelligence agency, or simply by opportunistic entrepreneurial groups who are looking for a way into a network to find something valuable to sell. We think that the scene in China really runs the gamut in terms of different types of sponsorship. Fortune: In the report you discuss how it's hard to make out the difference between these groups. Do you have any speculation as to whom--which groups--might be the ones remaining? Is it a mix? Does it weight toward government, or toward the enterprising hacker? What is the breakdown here--is there any way to know? Galante: It's hard to give a percentage. We have examples where we've seen what we call patriotic hackers, people who are aligned with state interests, but not necessarily on the payroll. We've seen everything form the patriotic hacker to the cybercriminal to groups that act in a very regimented 9-to-5 way. We see their tools built on a schedule that parallels Chinese federal holidays. We've seen really disciplined groups that operate in a way that's hard to not see that there has to be a ton of resourcing behind it, and probably a government entity. Another aspect that we've traced for years is how long we've seen groups operate. With some groups out of China, especially the ones that have been conducting the more traditional political espionage, we've seen those groups operate for over a decade with almost the same tools and infrastructure, too. Fortune: Part of this deal between Obama and Xi was that China would stop its attacks on U.S. enterprises. Obviously there are still attacks going on, as your report says, but is there any way to know whether, in fact, the state sponsored attacks are down? Galante: It's hard to say. The network visibility that we have just shows us what's compromised. What we don't know is when data is taken. In our cases, we haven't seen data theft. But when data has been taken in the past--to know that the data has been used and given to an entity, to an industry, or to a company in an industry that can then use it to put a product on the market--that would start to fulfill the definition of what theyre getting at with this economic espionage agreement. From our side were reluctant to say that this equates to economic espionage, because we simply see one part of a much longer chain of what would equate to economic espionage. What we can say is that we're still seeing compromises into corporate networks. Fortune: You mentioned that you're not seeing the same levels of data theft now. Is that because it's not happening, or because they're eluding detection in some way? Or perhaps FireEye doesn't have the visibility to see that? Galante: I think it's a couple factors. To set the premise though, it's very rare that you see data theft happening. When we're called in to do investigations, we're frequently looking into network logs and into network activity that, on average, happened almost 200 days before. [Editors note: the average breach takes 201 days to detect, according to a recent IBM study .] When you're investigating what happened previously, you have to consider, How well does the company keep logs? How do we go back and look at that activity and see what happened outside the network? There are a variety of factors that hamper understanding when the actual data was stolen, or if it was stolen. There are other cases where we've thwarted the detected compromise before the group could go any deeper into the network. So there are a couple of different wonky factors that keep the data theft from eluding our ability to have seen it when it happened. Now one thing were seeing is these groups go in and hack data and look for specific items. With the semiconductor firms, we were seeing attackers get into the files that had the manufacturing data about semiconductors and the chemical components used in the production. They're not just getting into a network, they're able to get in and navigate to data that would be useful. So that says a little bit more about their intent. If you're able to go in and locate a project that you need, that says a little bit more about what you're interested in. Fortune: Are there any cases that seem more grey in terms of what the hackers were going after? Galante: The navigational projects were interesting. This is a grey area. GPS navigation is right in that area of not knowing if it's for military or for civilian use. Traditionally, something for military use would fall into political espionage or military espionage, something that states have done since the beginning of time, versus something like the blueprints of a green energy or a coal cleaning plant, which we've seen before. When those are taken, that's a situation where it's pretty hard to see the military application of it. In the cases that we have here, in the cases that we've seen recently, we see semiconductors, we see high-tech corporations, we've seen an aerospace company, and a logistics company. These are all arguably targets and data that could fit either a military or a civilian use. So, tough to say whether that would trend more toward economic espionage versus political. Fortune: Have you been sending this report around government quarters? Galante: We frequently give a variety of government partners a heads up when we're able to do that before a report goes live. Fortune: What has been their reaction to this? Galante: This tracks fairly well with the visibility that they've had as well. Fortune: Last year a cybersecurity firm CrowdStrike issued a report saying there had been continued intrusions on U.S. companies after the China-U.S. deal . How does the FireEye report differ? Galante: That report came out in early October. It was really a first sense that activity still continued. But there's a ton of ways to look at activity. What we're very careful to parse here is that we wanted to know when a corporate network has been entered remotely, not just when the malware or the commands to the malware in a network has been live, which was one of the main indications used in that report from October to say that activity continued. We wanted to see that a group actively went into a network, and that was the bar that we used when we made the chart that you see, and also the graph. [Editors note: See, for example, page 11 of the report .] Fortune: So whereas CrowdStrike was asking--is there malware active on the network?--your report was asking, is there remote access happening? Galante: Is there an actual compromise of a network, yes. There is always remote access happening--so, is there a remote compromise happening of a corporate network. I think we're being more specific about how we want to define a piece of this, whereas CrowdStrike was looking just generally for any sort of beaconing or indication that infrastructure or malware were still living. We wanted to see something that reasonably made us conclude that an operator is still sitting there with fingers on keyboard, sending a command and entering networks. Kevin Mandia: Robert, this is Kevin Mandia. I've actually been on the line for the past 10 minutes and just staying quiet because Laura is crushing it. I don't know what CrowdStrikes criteria is for saying compromise or not compromise. I do know that we at FireEye have over 350 incident responders, we have nearly 350 iSight intel analysts [Editors note: FireEye acquired the threat intelligence firm iSight Partners for $200 million earlier this year], and we have well over 3,000 customers where we have appliances deployed. Those are the sources for where we find these compromises. We've had our threat database in existence since 2006, so thats the scale and scope at which we operate. When I look at the all the investigations we've done and all the intel we get from iSight, that's the data were reporting on. From the observables we have here at FireEye, the activity and counterespionage intrusions from China have gone down. Fortune: Because the attacks have dropped off precipitously, it seems, does this mean U.S. companies should breathe a sigh of relief? Mandia: Well, you've still got a bunch of other threats to worry about. So the answer is you still have to safeguard yourself from rogue states, which may be less responsible than China. I've always said this: the Chinese were the most polite hackers in cyberspace. They would break in, but I don't think they had exceptionally great counter forensics, they weren't destructive, they didn't go public with the data they stole. In many ways, if you were hacked, and you knew it, and it was the Chinese that did it, you breathed a sigh of relief. If it was some other group, you had to worry about public disclosure, about extortion, about a ton of other things. So the polite hackers have narrowed their targeting. That's how I look into this. I wouldn't breathe a sigh of relief. What I do see is that public exposure of Chinese cyber espionage by the private sector as well as by government officials--potentially the indictments and all the things Laura has put in the report--all of these factors did have an impact on the scale and scope of Chinese cyber espionage against the U.S.A. I see that as a positive thing. The unfortunate reality is that you still have to build your moat of defend against the other threats that are still out there. Fortune: During one recent quarter, Dave DeWalt, who was then FireEyes CEO, said that attacks by China on U.S. companies had been decreasing. A bunch of people took issue with the statement . They said that attacks are still going on. Where does FireEye stand on that? Because it seems the report is saying that, yes, the number of attacks has decreased a lot. Mandia: Yup, we just stand by exactly what were publishing. Based on our observables, that's what we see. This isn't like the TTPs [Editors note: TTPs is cyberspeak for tools, tactics, and procedures--the idiosyncrasies of hacking methods] of Chinese cyber espionage changed over night. When we do see them, the TTPs are largely the same. There are going to be those naysayers out there who say, well, maybe FireEye is just missing it. I've been locked onto these guys virtually my whole career. I'm not convinced anyone has been responding to Chinese cyber espionage breaches longer than I have--and if there is somebody I'd like to find them. We dealt with this back when I was in the military in the '90s, and we're locked on still. The TTPs will change, but they're not surreptitious. We're not missing it. That's my opinion. Fortune: How do you persuade companies to continue to invest in cybersecurity when it seems that maybe the threats are not as drastic or immediately pressing as they might have been? Galante: I would say at this point you're taking a roll of the dice if you're a corporate entity or a government entity with strong intellectual property. Especially something that could be dual-use. Particularly, if you're in one of the many industries that's producing cutting edge R&D, you're now rolling the dice and have been for a long time, on whether you're going to be compromised. Were seeing a maturation of China's military and political means to use cyber operations. To think that the decline in activity that we're seeing now is endemic of the future would be a misread. I think what we're seeing is a period of recalculating how to go with a precision force and a focus to get exactly the access that is needed, whether for political or military gains. Fortune: What prompted this report? Mandia: We went public in 2013 with the APT1 report. The government indicts soldiers in 2014. The president and the heads of state meet and they have discussions, and what does it lead to? What we hoped it would lead to--a reduction in the targeting of the private sector. I think that's a positive result. And that's why we're really doing this--to report on a positive result. Fortune: How have things changed for you since becoming CEO? Congrats on the promotion, by the way. Mandia: Thanks, it doesn't change much at the end of the day. PR person: Lets keep off that for now. Fortune: Okay, what else is interesting--is North Korea behind the SWIFT bank hacks? Mandia: First thing I would say as a general citizen--and I don't have the data to opine one way or another--but boy, wouldn't you want to know who stole $81 million dollars from the bank of Bangladesh? Fortune: Oh yeah. Mandia: I mean if we can't pierce anonymity behind that as an international community, both behind the hack and behind the laundering of the money, don't we have a challenge here? $81 million is gone and we don't know who did it? That's not a good indicator for whether were going to catch who hacks a utility in Mississippi and shuts it down. We've got to get attribution right. If we can't get it right for Ashley Madison, fine, I get that. But if we can't get it right for stealing $81 million--that's not a good indicator. I think that's the interesting story right now. Can the international community can the pierce anonymity behind folks who steal $81 million, and if they can't, what else can they not do? Fortune: Indeed. Thanks for your time. Mandia: Take care, Robert. Fortune: You too. See original article on Fortune.com More from Fortune.com Everything You Need to Know About North Korea's Suspected Bank Blitzkrieg Senate Rejects Proposal to Expand FBI Spying Power This Ad Firm That Tracked Kids Got Smacked With a $4 Million Fine Why the Senate Will Likely Give the FBI More Spying Power After Orlando Winklevoss Brothers Expand Their Bitcoin Exchange to the U.K. \|\| China’s Cyber Spying on the U.S. Has Drastically Changed: Last year United States President Barack Obama and Chinese President Xi Jinping entered into a dubious agreement during Xi’s first state visit: No more hacking one another’s businesses. Military and political espionage? Fair game. Industry? Hands off. Hackers allegedly sponsored by China had been ransacking U.S. companies for economic advantage for years, as any computer forensics pro who has helped clean up one of these data breaches will tell you. The hackers’ goal: Intellectual property theft. With the recent truce, the heads of state agreed that their countries could break into one another’s computer networks for traditional state on state espionage, but no more hacking for profit. For skeptics, here’s the shocker: The parties appear to be keeping their word--for the most part. Cybersecurity firm FireEyereleased a reportearlier this week that found that the number of breaches by China-based groups on U.S. businesses has dropped off a cliff. The number of network compromises has not fallen to zero, but it hasplummeted 90% in the past two years. Get Data Sheet,Fortune's technology newsletter. Fortunespoke to Laura Galante, director of the threat intelligence at FireEye , as well as Kevin Mandia, the company’s recently appointed CEO, about the report’s findings. (Mandia makes his appearance at question 12.) Among the topics discussed: How the threat of economic espionage has changed, what this means for U.S. businesses, and whether everyone may now breathe a sigh of relief. (Spoiler: The answer is no.) Here’s what the two said, edited and condensed for clarity. Fortune: This report seems to be a follow-up toMandiant’s original reporton Chinese economic cyberespionage from a few years ago. [Editors note: FireEyepurchasedMandiant, Mandia’s computer forensics firm, for about $1 billion in 2014.] What does the new report find? Laura Galante: We've tracked all of these groups for years before the APT1 report that you probably remember from back in 2013. Here we found the percentage of incidents and number of incidents we've seen over time from groups that are based in China, and how that’s changed. We came up with a pretty deep understanding of how we've seen President Xi undertake reforms in the military and also in the party since he came to power. We have some analysis around how he is probably centralizing and refocusing some of the cyber operations that China sponsored. We also think that widespread exposure from private sector disclosures was another impetus that really changed how Beijing was thinking about cyber operations. Finally the punitive measures--theindictments of several military officersback in 2014, and then thethreat of sanctionsright on the eve of President Xi coming over to the U.S--these were all factors that, in the aggregate, have really changed the way we've seen intellectual property theft conducted from China based groups. Fortune: It seemed like the key line in the report was that the attacks are less voluminous, but more focused. Galante: That’s what we're seeing. When we do see compromises--and we have seen compromises since last year--we're seeing the groups conduct a variety of different activity at different targets, not just in the U.S., but also in Japan and abroad in Europe. We're seeing compromises of networks still. What wearen'tseeing is data theft at such a volume as before--back in 2013, even 2014. We're seeing that they'll go in and they'll package up data, which is something that we typically see right before they would steal it, but we haven't observed instances of data theft, per se, in 2015 and 2016. Fortune: You're still seeing intrusions and breaches, but not the actual exfiltration of data. Is that accurate? Galante: That's right. What that doesn't necessarily mean is that it's not happening. We're not seeing the actual data theft in the recent examples that we've had here, but we're still seeing the compromise. If you're able to compromise the network, get in, move laterally to different parts of the network, and see the files that you want, that's still a very effective way to get at the information you want without the level of risk and evidence left behind of actually transferring the data out of a network. Fortune: So it’s a shift from smashing-and-grabbing to quietly and passively surveilling? Galante: That's a way to characterize what we've seen. And I think that fits too with what's definitely a higher cost of doing business that has risen in the last three and a half years. The risk of exposure from security firms, from security researchers, which is happening left and right, and the measures that the U.S. government has taken, paint a very different picture of risk when groups are operating--whether they be sponsored by the government, by a military entity, by an intelligence agency, or simply by opportunistic entrepreneurial groups who are looking for a way into a network to find something valuable to sell. We think that the scene in China really runs the gamut in terms of different types of sponsorship. Fortune: In the report you discuss how it's hard to make out the difference between these groups. Do you have any speculation as to whom--which groups--might be the ones remaining? Is it a mix? Does it weight toward government, or toward the enterprising hacker? What is the breakdown here--is there any way to know? Galante: It's hard to give a percentage. We have examples where we've seen what we call patriotic hackers, people who are aligned with state interests, but not necessarily on the payroll. We've seen everything form the patriotic hacker to the cybercriminal to groups that act in a very regimented 9-to-5 way. We see their tools built on a schedule that parallels Chinese federal holidays. We've seen really disciplined groups that operate in a way that's hard to not see that there has to be a ton of resourcing behind it, and probably a government entity. Another aspect that we've traced for years is how long we've seen groups operate. With some groups out of China, especially the ones that have been conducting the more traditional political espionage, we've seen those groups operate for over a decade with almost the same tools and infrastructure, too. Fortune: Part of this deal between Obama and Xi was that China would stop its attacks on U.S. enterprises. Obviously there are still attacks going on, as your report says, but is there any way to know whether, in fact, the state sponsored attacks are down? Galante: It's hard to say. The network visibility that we have just shows us what's compromised. What we don't know is when data is taken. In our cases, we haven't seen data theft. But when data has been taken in the past--to know that the data has been used and given to an entity, to an industry, or to a company in an industry that can then use it to put a product on the market--that would start to fulfill the definition of what they’re getting at with this economic espionage agreement. From our side we’re reluctant to say that this equates to economic espionage, because we simply see one part of a much longer chain of what would equate to economic espionage. What we can say is that we're still seeing compromises into corporate networks. Fortune: You mentioned that you're not seeing the same levels of data theft now. Is that because it's not happening, or because they're eluding detection in some way? Or perhaps FireEye doesn't have the visibility to see that? Galante: I think it's a couple factors. To set the premise though, it's very rare that you see data theft happening. When we're called in to do investigations, we're frequently looking into network logs and into network activity that, on average, happened almost 200 days before.[Editor’s note: the average breach takes 201 days to detect, according to arecent IBM study.]When you're investigating what happened previously, you have to consider, How well does the company keep logs? How do we go back and look at that activity and see what happened outside the network? There are a variety of factors that hamper understanding when the actual data was stolen, or if it was stolen. There are other cases where we've thwarted the detected compromise before the group could go any deeper into the network. So there are a couple of different wonky factors that keep the data theft from eluding our ability to have seen it when it happened. Now one thing we’re seeing is these groups go in and hack data and look for specific items. With the semiconductor firms, we were seeing attackers get into the files that had the manufacturing data about semiconductors and the chemical components used in the production. They're not just getting into a network, they're able to get in and navigate to data that would be useful. So that says a little bit more about their intent. If you're able to go in and locate a project that you need, that says a little bit more about what you're interested in. Fortune: Are there any cases that seem more grey in terms of what the hackers were going after? Galante: The navigational projects were interesting. This is a grey area. GPS navigation is right in that area of not knowing if it's for military or for civilian use. Traditionally, something for military use would fall into political espionage or military espionage, something that states have done since the beginning of time, versus something like the blueprints of a green energy or a coal cleaning plant, which we've seen before. When those are taken, that's a situation where it's pretty hard to see the military application of it. In the cases that we have here, in the cases that we've seen recently, we see semiconductors, we see high-tech corporations, we've seen an aerospace company, and a logistics company. These are all arguably targets and data that could fit either a military or a civilian use. So, tough to say whether that would trend more toward economic espionage versus political. Fortune: Have you been sending this report around government quarters? Galante: We frequently give a variety of government partners a heads up when we're able to do that before a report goes live. Fortune: What has been their reaction to this? Galante: This tracks fairly well with the visibility that they've had as well. Fortune: Last year a cybersecurity firm CrowdStrike issued a report saying there had been continued intrusions on U.S. companiesafter the China-U.S. deal. How does the FireEye report differ? Galante: That report came out in early October. It was really a first sense that activity still continued. But there's a ton of ways to look at activity. What we're very careful to parse here is that we wanted to know when a corporate network has been entered remotely, not just when the malware or the commands to the malware in a network has been live, which was one of the main indications used in that report from October to say that activity continued. We wanted to see that a group actively went into a network, and that was the bar that we used when we made the chart that you see, and also the graph.[Editor’s note:See, for example, page 11 of the report.] Fortune: So whereas CrowdStrike was asking--is there malware active on the network?--your report was asking, is there remote access happening? Galante: Is there an actual compromise of a network, yes. There is always remote access happening--so, is there a remote compromise happening of a corporate network. I think we're being more specific about how we want to define a piece of this, whereas CrowdStrike was looking just generally for any sort of beaconing or indication that infrastructure or malware were still living. We wanted to see something that reasonably made us conclude that an operator is still sitting there with fingers on keyboard, sending a command and entering networks. Kevin Mandia: Robert, this is Kevin Mandia. I've actually been on the line for the past 10 minutes and just staying quiet because Laura is crushing it. I don't know what CrowdStrike’s criteria is for saying compromise or not compromise. I do know that we at FireEye have over 350 incident responders, we have nearly 350 iSight intel analysts[Editor’s note:FireEye acquired the threat intelligence firm iSight Partnersfor $200 million earlier this year],and we have well over 3,000 customers where we have appliances deployed. Those are the sources for where we find these compromises. We've had our threat database in existence since 2006, so that’s the scale and scope at which we operate. When I look at the all the investigations we've done and all the intel we get from iSight, that's the data we’re reporting on. From the observables we have here at FireEye, the activity and counterespionage intrusions from China have gone down. Fortune: Because the attacks have dropped off precipitously, it seems, does this mean U.S. companies should breathe a sigh of relief? Mandia: Well, you've still got a bunch of other threats to worry about. So the answer is you still have to safeguard yourself from rogue states, which may be less responsible than China. I've always said this: the Chinese were the most polite hackers in cyberspace. They would break in, but I don't think they had exceptionally great counter forensics, they weren't destructive, they didn't go public with the data they stole. In many ways, if you were hacked, and you knew it, and it was the Chinese that did it, you breathed a sigh of relief. If it was some other group, you had to worry about public disclosure, about extortion, about a ton of other things. So the polite hackers have narrowed their targeting. That's how I look into this. I wouldn't breathe a sigh of relief. What I do see is that public exposure of Chinese cyber espionage by the private sector as well as by government officials--potentially the indictments and all the things Laura has put in the report--all of these factors did have an impact on the scale and scope of Chinese cyber espionage against the U.S.A. I see that as a positive thing. The unfortunate reality is that you still have to build your moat of defend against the other threats that are still out there. Fortune: During one recent quarter, Dave DeWalt, who was then FireEye’s CEO, said that attacks by China on U.S. companies had been decreasing. A bunch of peopletook issue with the statement. They said that attacks are still going on. Where does FireEye stand on that? Because it seems the report is saying that, yes, the number of attacks has decreased a lot. Mandia: Yup, we just stand by exactly what were publishing. Based on our observables, that's what we see. This isn't like the TTPs[Editor’s note: TTPs is cyberspeak for “tools, tactics, and procedures”--the idiosyncrasies of hacking methods]of Chinese cyber espionage changed over night. When we do see them, the TTPs are largely the same. There are going to be those naysayers out there who say, well, maybe FireEye is just missing it. I've been locked onto these guys virtually my whole career. I'm not convinced anyone has been responding to Chinese cyber espionage breaches longer than I have--and if there is somebody I'd like to find them. We dealt with this back when I was in the military in the '90s, and we're locked on still. The TTPs will change, but they're not surreptitious. We're not missing it. That's my opinion. Fortune: How do you persuade companies to continue to invest in cybersecurity when it seems that maybe the threats are not as drastic or immediately pressing as they might have been? Galante: I would say at this point you're taking a roll of the dice if you're a corporate entity or a government entity with strong intellectual property. Especially something that could be dual-use. Particularly, if you're in one of the many industries that's producing cutting edge R&D, you're now rolling the dice and have been for a long time, on whether you're going to be compromised. We’re seeing a maturation of China's military and political means to use cyber operations. To think that the decline in activity that we're seeing now is endemic of the future would be a misread. I think what we're seeing is a period of recalculating how to go with a precision force and a focus to get exactly the access that is needed, whether for political or military gains. Fortune: What prompted this report? Mandia: We went public in 2013 with the APT1 report. The government indicts soldiers in 2014. The president and the heads of state meet and they have discussions, and what does it lead to? What we hoped it would lead to--a reduction in the targeting of the private sector. I think that's a positive result. And that's why we're really doing this--to report on a positive result. Fortune: How have things changed for you since becoming CEO? Congrats on the promotion, by the way. Mandia: Thanks, it doesn't change much at the end of the day. PR person: Let’s keep off that for now. Fortune: Okay, what else is interesting--is North Korea behind the SWIFT bank hacks? Mandia: First thing I would say as a general citizen--and I don't have the data to opine one way or another--but boy, wouldn't you want to know who stole $81 million dollars from the bank of Bangladesh? Fortune: Oh yeah. Mandia: I mean if we can't pierce anonymity behind that as an international community, both behind the hack and behind the laundering of the money, don't we have a challenge here? $81 million is gone and we don't know who did it? That's not a good indicator for whether we’re going to catch who hacks a utility in Mississippi and shuts it down. We've got to get attribution right. If we can't get it right for Ashley Madison, fine, I get that. But if we can't get it right for stealing $81 million--that's not a good indicator. I think that's the interesting story right now. Can the international community can the pierce anonymity behind folks who steal $81 million, and if they can't, what else can they not do? Fortune: Indeed. Thanks for your time. Mandia: Take care, Robert. Fortune: You too. See original article on Fortune.com More from Fortune.com • Everything You Need to Know About North Korea's Suspected Bank Blitzkrieg • Senate Rejects Proposal to Expand FBI Spying Power • This Ad Firm That Tracked Kids Got Smacked With a $4 Million Fine • Why the Senate Will Likely Give the FBI More Spying Power After Orlando • Winklevoss Brothers Expand Their Bitcoin Exchange to the U.K. \|\| Looking For Safe Havens? Buy Gold! Buy Treasuries! Buy...Bitcoin?: The usual safe-haven trades are the only silver linings in an ugly Friday trading session. The iShares Barclays 20+ Yr Treas.Bond (ETF) (NASDAQ: TLT ) is up 2.7 percent and the SPDR Gold Trust (ETF) (NYSE: GLD ) is up 4.6 percent. However, another investment alternative may be emerging as the safe haven of the future. The cryptocurrency bitcoin has also surged above $650 on Friday as investors pour money in. It’s strange to think of a currency known for such extreme volatility as a safe haven, but with the pound and other European currencies taking a Brexit pounding, bitcoin buyers are probably more concerned with long-term value preservation than short-term price swings. “I don’t think it is a traditional safe-haven trade but a strategy to avoid official manipulation,” Swissquote Bank analyst Peter Rosenstreich explained. Bitcoin offers investors a unique new alternative to all traditional investment classes. Therefore, bad news for global financial markets may start to consistently be good news for bitcoin. Related Link: Baidu Among Companies Working Together To Use Bitcoin Technology To Create Global Bank Bitcoin investors endured some volatile trading earlier this week when rival cryptocurrency Ethereum suffered a major hack that resulted in $50 million in stolen currency. While bitcoin likely has a way to go before its price action is stable enough for the cryptocurrency to be considered “digital gold,” bitcoin already seems to be establishing a reputation among traders as a viable option during times of market uncertainty. Disclosure: The author holds no position in the stocks mentioned. See more from Benzinga What Analysts Think Central Banks Will Do Following Brexit What Goldman Sachs Thinks Of The Brexit This Treasury Bond ETF Is On Verge Of Bearish Chart Formation © 2016 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. View comments \|\| Looking For Safe Havens? Buy Gold! Buy Treasuries! Buy...Bitcoin?: The usual safe-haven trades are the only silver linings in an ugly Friday trading session. TheiShares Barclays 20+ Yr Treas.Bond(ETF)(NASDAQ:TLT) is up 2.7 percent and theSPDR Gold Trust (ETF)(NYSE:GLD) is up 4.6 percent. However, another investment alternative may be emerging as the safe haven of the future. The cryptocurrency bitcoin has also surged above $650 on Friday as investors pour money in. It’s strange to think of a currency known for such extreme volatility as a safe haven, but with the pound and other European currencies taking a Brexit pounding, bitcoin buyers are probably more concerned with long-term value preservation than short-term price swings. “I don’t think it is a traditional safe-haven trade but a strategy to avoid official manipulation,”Swissquote Bankanalyst Peter Rosenstreich explained. Bitcoin offers investors a unique new alternative to all traditional investment classes. Therefore, bad news for global financial markets may start to consistently be good news for bitcoin. Related Link:Baidu Among Companies Working Together To Use Bitcoin Technology To Create Global Bank Bitcoin investors endured some volatile trading earlier this week when rival cryptocurrency Ethereum suffered a major hack that resulted in $50 million in stolen currency. While bitcoin likely has a way to go before its price action is stable enough for the cryptocurrency to be considered “digital gold,” bitcoin already seems to be establishing a reputation among traders as a viable option during times of market uncertainty. Disclosure: The author holds no position in the stocks mentioned. See more from Benzinga • What Analysts Think Central Banks Will Do Following Brexit • What Goldman Sachs Thinks Of The Brexit • This Treasury Bond ETF Is On Verge Of Bearish Chart Formation © 2016 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. \|\| Looking For Safe Havens? Buy Gold! Buy Treasuries! Buy...Bitcoin?: The usual safe-haven trades are the only silver linings in an ugly Friday trading session. TheiShares Barclays 20+ Yr Treas.Bond(ETF)(NASDAQ:TLT) is up 2.7 percent and theSPDR Gold Trust (ETF)(NYSE:GLD) is up 4.6 percent. However, another investment alternative may be emerging as the safe haven of the future. The cryptocurrency bitcoin has also surged above $650 on Friday as investors pour money in. It’s strange to think of a currency known for such extreme volatility as a safe haven, but with the pound and other European currencies taking a Brexit pounding, bitcoin buyers are probably more concerned with long-term value preservation than short-term price swings. “I don’t think it is a traditional safe-haven trade but a strategy to avoid official manipulation,”Swissquote Bankanalyst Peter Rosenstreich explained. Bitcoin offers investors a unique new alternative to all traditional investment classes. Therefore, bad news for global financial markets may start to consistently be good news for bitcoin. Related Link:Baidu Among Companies Working Together To Use Bitcoin Technology To Create Global Bank Bitcoin investors endured some volatile trading earlier this week when rival cryptocurrency Ethereum suffered a major hack that resulted in $50 million in stolen currency. While bitcoin likely has a way to go before its price action is stable enough for the cryptocurrency to be considered “digital gold,” bitcoin already seems to be establishing a reputation among traders as a viable option during times of market uncertainty. Disclosure: The author holds no position in the stocks mentioned. See more from Benzinga • What Analysts Think Central Banks Will Do Following Brexit • What Goldman Sachs Thinks Of The Brexit • This Treasury Bond ETF Is On Verge Of Bearish Chart Formation © 2016 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. \|\| Clinton, Trump Weigh In On The Brexit: With one major source of market uncertainty ending up a worst-case scenario for global investors on Friday, the markets are now looking to the U.S. presidential election as the next major unknown. Now that the Brexit vote is official, both Donald Trump and Hillary Clinton have weighed in on the decision. “This time of uncertainty only underscores the need for calm, steady, experienced leadership in the White House to protect Americans’ pocketbooks and livelihoods, to support our friends and allies, to stand up to our adversaries, and to defend our interest,” Clinton said ina statement. Clinton had spoken out in opposition to a Brexit vote in recent weeks. Related Link:Baidu Among Companies Working Together To Use Bitcoin Technology To Create Global Bank Trump, on the other hand, had been in favor of a Brexit and praised the decision to leave the EU. “They’re angry over borders. They’re angry over people coming into the country and taking over. Nobody even knows who they are,” Trump said in a news conference on Friday. “They’re angry about many, many things. They took back control of their country. It’s a great thing.” The populist spirit underlying the Brexit campaign in the U.K. is the same type of enthusiasm that Trump is trying to drum up in American voters in November. See more from Benzinga • What Analysts Think Central Banks Will Do Following Brexit • The Fed Is 'Carefully Monitoring' Global Markets • What Goldman Sachs Thinks Of The Brexit © 2016 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. \|\| Clinton, Trump Weigh In On The Brexit: With one major source of market uncertainty ending up a worst-case scenario for global investors on Friday, the markets are now looking to the U.S. presidential election as the next major unknown. Now that the Brexit vote is official, both Donald Trump and Hillary Clinton have weighed in on the decision. “This time of uncertainty only underscores the need for calm, steady, experienced leadership in the White House to protect Americans’ pocketbooks and livelihoods, to support our friends and allies, to stand up to our adversaries, and to defend our interest,” Clinton said in a statement . Clinton had spoken out in opposition to a Brexit vote in recent weeks. Related Link: Baidu Among Companies Working Together To Use Bitcoin Technology To Create Global Bank Trump, on the other hand, had been in favor of a Brexit and praised the decision to leave the EU. “They’re angry over borders. They’re angry over people coming into the country and taking over. Nobody even knows who they are,” Trump said in a news conference on Friday. “They’re angry about many, many things. They took back control of their country. It’s a great thing.” The populist spirit underlying the Brexit campaign in the U.K. is the same type of enthusiasm that Trump is trying to drum up in American voters in November. See more from Benzinga What Analysts Think Central Banks Will Do Following Brexit The Fed Is 'Carefully Monitoring' Global Markets What Goldman Sachs Thinks Of The Brexit © 2016 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. \|\| The newest Bitcoin price surge isn’t just about Brexit: The price of the digital currency bitcoin is up 15% in the past 24 hours, and you might reasonably think it has something to do with the massive global economic event that took place on Thursday. And you’d be right. But that isn’t the whole story. Headlines are shouting that bitcoin is up because ofBritain’s vote to leave the European Union, which has sent its own currency,the pound, plummeting to a 31-year low. Yes, Brexit may be helping bitcoin, but as with every bitcoin spike, there are many other factors at play. “I’d say Brexit is just one sub-item of one of those factors,” says Gil Luria, a Wedbush Securities analyst who has a pretty good track record on the bitcoin price. In July 2015, when the price was around $250, heprojected it would reach $400in one year. In October, herevised the projection to $600. The coin is currently trading at $650. So, what are the factors that cause occasional bitcoin spikes? The first, and typically biggest, is China. It’s the biggest country for bitcoin trading activity and speculation (if not for bitcoin startup headquarters) and bitcoin is increasingly the vehicle of choice for capital exits from the yuan. The yuan is sinking as well at the moment, approaching a six-year low at the time of writing, and it is possible some tech-savvy Chinese investors are turning to bitcoin. Second, The Great Bitcoin Halving approaches. Huh? Here’s a quick-and-dirty summary: All bitcoin transactions are recorded onthe bitcoin blockchain, a public, decentralized, permissionless ledger. The transactions are recorded in bundles, called “blocks,” by “miners” who receive a small award in bitcoin for mining. Beginning in July, the reward that miners receive per block is being cut in half, for the second time in bitcoin’s history. The result of the halving will reduce the creation of new bitcoins from 9% down to about 4% per year, and while the effect of this on the price is up for debate, many believe the anticipation of the change is bringing up the price."People are excited" about the halving, Luria says. Third, general uncertainty and fear help bitcoin. Brexit is just the latest example of this. Bitcoin rose when the Greek debt crisis came to a head. It typically rises whenever a major country’s economy roils. That’s because bitcoin is an “uncorrelated asset” much like gold. “Bonds, stocks, home prices always go in the same direction,” Luria says. “But bitcoin is a place to hide in times of uncertainty. I’d rather have the volatility of bitcoin with the knowledge that my currency is going to get depreciated by 30% in the next few months. Bitcoin has its own drivers, its own value, and it’s not going to go up and down because of the actions of central banks.” It's important to note that bitcoin has already been on an absolute tear this summer. One month ago, the price was in the $400 range. Last week, it nearly hit $800. It’s up 57% in the past three months and 170% in the past year. It has been on a ride that briefly reversed earlier this week, when the price began falling again. Now it's been buoyed back up on the Brexit news. But it is possible, perhaps likely, that the price would have risen again this week, or next, even without the news from England. Nonetheless, bitcoin people are excited. "The pound has crashed; the Euro is in trouble, the dollar turbulent. Maybe it’s time the world looks at a more global solution," said Mihir Magudia of digital currency LEOcoin, in an e-mailed comment. Barry Silbert, whoseDigital Currency Group has invested in a lion’s share of the hottest bitcoin startups, tweeted a bit of a grand statement on Thursday night about the price hike. Before anyone goes ditching all their fiat currency for bitcoin, it’s worth keeping some perspective: the market cap of all the bitcoin in the world is only around $10 billion. That’s half an Under Armour. The best piece of wisdom to remember whenever anyone analyzes the price of bitcoin is that no one really knows anything. It’s a volatile commodity, with fluctuations influenced by a whole host of factors and elusive sentiment. -- Daniel Roberts is a writer at Yahoo Finance, covering technology and sports business. Follow him on Twitter at@readDanwrite. Read more: Here's where big banks stand on blockchain Why 21.co is the most exciting bitcoin company right now Coinbase is more bullish on bitcoin than ever \|\| The newest Bitcoin price surge isn’t just about Brexit: The price of the digital currency bitcoin is up 15% in the past 24 hours, and you might reasonably think it has something to do with the massive global economic event that took place on Thursday. And you’d be right. But that isn’t the whole story. Headlines are shouting that bitcoin is up because ofBritain’s vote to leave the European Union, which has sent its own currency,the pound, plummeting to a 31-year low. Yes, Brexit may be helping bitcoin, but as with every bitcoin spike, there are many other factors at play. “I’d say Brexit is just one sub-item of one of those factors,” says Gil Luria, a Wedbush Securities analyst who has a pretty good track record on the bitcoin price. In July 2015, when the price was around $250, heprojected it would reach $400in one year. In October, herevised the projection to $600. The coin is currently trading at $650. So, what are the factors that cause occasional bitcoin spikes? The first, and typically biggest, is China. It’s the biggest country for bitcoin trading activity and speculation (if not for bitcoin startup headquarters) and bitcoin is increasingly the vehicle of choice for capital exits from the yuan. The yuan is sinking as well at the moment, approaching a six-year low at the time of writing, and it is possible some tech-savvy Chinese investors are turning to bitcoin. Second, The Great Bitcoin Halving approaches. Huh? Here’s a quick-and-dirty summary: All bitcoin transactions are recorded onthe bitcoin blockchain, a public, decentralized, permissionless ledger. The transactions are recorded in bundles, called “blocks,” by “miners” who receive a small award in bitcoin for mining. Beginning in July, the reward that miners receive per block is being cut in half, for the second time in bitcoin’s history. The result of the halving will reduce the creation of new bitcoins from 9% down to about 4% per year, and while the effect of this on the price is up for debate, many believe the anticipation of the change is bringing up the price."People are excited" about the halving, Luria says. Third, general uncertainty and fear help bitcoin. Brexit is just the latest example of this. Bitcoin rose when the Greek debt crisis came to a head. It typically rises whenever a major country’s economy roils. That’s because bitcoin is an “uncorrelated asset” much like gold. “Bonds, stocks, home prices always go in the same direction,” Luria says. “But bitcoin is a place to hide in times of uncertainty. I’d rather have the volatility of bitcoin with the knowledge that my currency is going to get depreciated by 30% in the next few months. Bitcoin has its own drivers, its own value, and it’s not going to go up and down because of the actions of central banks.” It's important to note that bitcoin has already been on an absolute tear this summer. One month ago, the price was in the $400 range. Last week, it nearly hit $800. It’s up 57% in the past three months and 170% in the past year. It has been on a ride that briefly reversed earlier this week, when the price began falling again. Now it's been buoyed back up on the Brexit news. But it is possible, perhaps likely, that the price would have risen again this week, or next, even without the news from England. Nonetheless, bitcoin people are excited. "The pound has crashed; the Euro is in trouble, the dollar turbulent. Maybe it’s time the world looks at a more global solution," said Mihir Magudia of digital currency LEOcoin, in an e-mailed comment. Barry Silbert, whoseDigital Currency Group has invested in a lion’s share of the hottest bitcoin startups, tweeted a bit of a grand statement on Thursday night about the price hike. Before anyone goes ditching all their fiat currency for bitcoin, it’s worth keeping some perspective: the market cap of all the bitcoin in the world is only around $10 billion. That’s half an Under Armour. The best piece of wisdom to remember whenever anyone analyzes the price of bitcoin is that no one really knows anything. It’s a volatile commodity, with fluctuations influenced by a whole host of factors and elusive sentiment. -- Daniel Roberts is a writer at Yahoo Finance, covering technology and sports business. Follow him on Twitter at@readDanwrite. Read more: Here's where big banks stand on blockchain Why 21.co is the most exciting bitcoin company right now Coinbase is more bullish on bitcoin than ever \|\| The newest Bitcoin price surge isnt just about Brexit: Bitcoin price over the past 24 hours, via WinkDex. The price of the digital currency bitcoin is up 15% in the past 24 hours, and you might reasonably think it has something to do with the massive global economic event that took place on Thursday. And youd be right. But that isnt the whole story. Headlines are shouting that bitcoin is up because of Britains vote to leave the European Union , which has sent its own currency, the pound, plummeting to a 31-year low . Yes, Brexit may be helping bitcoin, but as with every bitcoin spike, there are many other factors at play. Id say Brexit is just one sub-item of one of those factors, says Gil Luria, a Wedbush Securities analyst who has a pretty good track record on the bitcoin price. In July 2015, when the price was around $250, he projected it would reach $400 in one year. In October, he revised the projection to $600 . The coin is currently trading at $650. So, what are the factors that cause occasional bitcoin spikes? The first, and typically biggest, is China. Its the biggest country for bitcoin trading activity and speculation (if not for bitcoin startup headquarters) and bitcoin is increasingly the vehicle of choice for capital exits from the yuan. The yuan is sinking as well at the moment, approaching a six-year low at the time of writing, and it is possible some tech-savvy Chinese investors are turning to bitcoin. Second, The Great Bitcoin Halving approaches. Huh? Heres a quick-and-dirty summary: All bitcoin transactions are recorded on the bitcoin blockchain, a public, decentralized, permissionless ledger . The transactions are recorded in bundles, called blocks, by miners who receive a small award in bitcoin for mining. Beginning in July, the reward that miners receive per block is being cut in half, for the second time in bitcoins history. The result of the halving will reduce the creation of new bitcoins from 9% down to about 4% per year, and while the effect of this on the price is up for debate, many believe the anticipation of the change is bringing up the price. "People are excited" about the halving, Luria says. Story continues Third, general uncertainty and fear help bitcoin. Brexit is just the latest example of this. Bitcoin rose when the Greek debt crisis came to a head. It typically rises whenever a major countrys economy roils. Thats because bitcoin is an uncorrelated asset much like gold. Bonds, stocks, home prices always go in the same direction, Luria says. But bitcoin is a place to hide in times of uncertainty. Id rather have the volatility of bitcoin with the knowledge that my currency is going to get depreciated by 30% in the next few months. Bitcoin has its own drivers, its own value, and its not going to go up and down because of the actions of central banks. It's important to note that bitcoin has already been on an absolute tear this summer. Bitcoin over the past 3 months, via WinkDex, which shows a blended price from the leading price indices. One month ago, the price was in the $400 range. Last week, it nearly hit $800. Its up 57% in the past three months and 170% in the past year. It has been on a ride that briefly reversed earlier this week, when the price began falling again. Now it's been buoyed back up on the Brexit news. But it is possible, perhaps likely, that the price would have risen again this week, or next, even without the news from England. Nonetheless, bitcoin people are excited. "The pound has crashed; the Euro is in trouble, the dollar turbulent. Maybe its time the world looks at a more global solution," said Mihir Magudia of digital currency LEOcoin, in an e-mailed comment. Barry Silbert, whose Digital Currency Group has invested in a lions share of the hottest bitcoin startups , tweeted a bit of a grand statement on Thursday night about the price hike. This is bitcoin's coming out party as a global safe haven investment. Amazing Barry Silbert (@barrysilbert) June 24, 2016 Before anyone goes ditching all their fiat currency for bitcoin, its worth keeping some perspective: the market cap of all the bitcoin in the world is only around $10 billion. Thats half an Under Armour. The best piece of wisdom to remember whenever anyone analyzes the price of bitcoin is that no one really knows anything. Its a volatile commodity, with fluctuations influenced by a whole host of factors and elusive sentiment. -- Daniel Roberts is a writer at Yahoo Finance, covering technology and sports business. Follow him on Twitter at @readDanwrite . Read more: Here's where big banks stand on blockchain Why 21.co is the most exciting bitcoin company right now Coinbase is more bullish on bitcoin than ever \|\| The Fed Is 'Carefully Monitoring' Global Markets: The surprise British vote to leave the Eurozone sent European markets into chaos on Friday. While European central banks scramble to maintain order, they at least know that they can count on help from across the Atlantic. The U.S. Federal Reserve released a concise statement on Friday assuring the European Union that it is willing provide liquidity if needed: “The Federal Reserve is carefully monitoring developments in global financial markets, in cooperation with other central banks, following the results of the U.K. referendum on membership in the European Union. The Federal Reserve is prepared to provide dollar liquidity through its existing swap lines with central banks, as necessary, to address pressured in global funding markets, which could have adverse implications for the U.S. economy.” Related Link: Baidu Among Companies Working Together To Use Bitcoin Technology To Create Global Bank President Obama also released a statement on the Brexit. "The special relationship between the United States and the United Kingdom is enduring, and the United Kingdom’s membership in NATO remains a vital cornerstone of U.S. foreign, security, and economic policy. The United Kingdom and the European Union will remain indispensable partners of the United States even as they begin negotiating their ongoing relationship to ensure continued stability, security, and prosperity for Europe, Great Britain and Northern Ireland, and the world," the statement reads. Obama had spoken out in opposition to a Brexit in the weeks leading up to the referendum. Canada Prime Minister Justin Trudeau has already released an official statement on the Brexit. “The UK and the EU are important strategic partners for Canada with whom we enjoy deep historical ties and common values,” the statement reads. “We will continue to build relations with both parties as they forge a new relationship.” So far in Friday trading, the SPDR S&P 500 ETF Trust (NYSE: SPY )’s 2.1 percent loss is relatively modest compared to the 8.8 percent drop in the iShares Trust (NYSE: EWU ). Story continues Disclosure: the author holds no position in the stocks mentioned. See more from Benzinga What Goldman Sachs Thinks Of The Brexit Social Data Provides Real-Time Brexit Sentiment Everything You Need To Know About The Brexit © 2016 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. [Social Media Buzz] 1 KOBO = 0.00000000 BTC = 0.0000 USD = 0.0000 NGN = 0.0000 ZAR = 0.0000 KES #Kobocoin 2016-06-29 08:00 pic.twitter.com/nuln1QaQG6 \|\| $ 0.005142 (-1.41 %) 0.00000795 BTC (-0.00 %) #WHIPPED #FETISH #BDSM \|\| #TrinityCoin #TTY $ 0.000006 (-1.99 %) 0.00000001 BTC (-0.00 %) \|\| 1 KOBO = 0.00000000 BTC = 0.0000 USD = 0.0000 NGN = 0.0000 ZAR = 0.0000 KES #Kobocoin 2016-06-29 17:00 pic.twitter.com/rYxpgPqKcP \|\| #CCN 0.00000891 BTC(-19.00 %) \| Market Cap 42 BTC \| Volume(24h) 0.24 BTC \| ...	673.34, 676.30, 703.70, 658.66, 683.66, 670.63, 677.33, 640.56, 666.52, 650.96
Given the historical Bitcoin prices from the last 90 days, predict the next 10 daily closing prices. The historical prices are: 8909.95, 8108.12, 7923.64, 7909.73, 7911.43, 4970.79, 5563.71, 5200.37, 5392.31, 5014.48, 5225.63, 5238.44, 6191.19, 6198.78, 6185.07, 5830.25, 6416.31, 6734.80, 6681.06, 6716.44, 6469.80, 6242.19, 5922.04, 6429.84, 6438.64, 6606.78, 6793.62, 6733.39, 6867.53, 6791.13, 7271.78, 7176.41, 7334.10, 7302.09, 6865.49, 6859.08, 6971.09, 6845.04, 6842.43, 6642.11, 7116.80, 7096.18, 7257.67, 7189.42, 6881.96, 6880.32, 7117.21, 7429.72, 7550.90, 7569.94, 7679.87, 7795.60, 7807.06, 8801.04, 8658.55, 8864.77, 8988.60, 8897.47, 8912.65, 9003.07, 9268.76, 9951.52, 9842.67, 9593.90, 8756.43, 8601.80, 8804.48, 9269.99, 9733.72, 9328.20, 9377.01, 9670.74, 9726.58, 9729.04, 9522.98, 9081.76, 9182.58, 9209.29, 8790.37, 8906.93, 8835.05, 9181.02, 9525.75, 9439.12, 9700.41, 9461.06, 10167.27, 9529.80, 9656.72, 9800.64.	[Bitcoin Technical Analysis for 2020-06-04] Volume: 25921805072, RSI (14-day): 57.42, 50-day EMA: 8884.33, 200-day EMA: 8330.65 [Wider Market Context] Gold Price: 1718.90, Gold RSI: 51.13 Oil Price: 37.41, Oil RSI: 65.04 [Recent News (last 7 days)] Latest Bitcoin Core Code Release Protects Against Nation-State Attacks: Bitcoin(BTC) was trading around $9,575 as of 20:00 UTC (4 p.m. ET), gaining less than a percent over the previous 24 hours. After Tuesday’srapid 8% drop in less than five minuteson high sell volume, bitcoin’s prices have steadied. At 00:00 UTC on Wednesday, the world’s largest cryptocurrency by market capitalization was changing hands around $9,528 on spot exchanges like Coinbase. Ten hours later, it staged a small run-up to $9,650 yet low trading volumes dashed any hopes of a substantial rally. Bitcoin is below its 50-day moving averages, signaling a technical sideways bearish sentiment. After an exciting start to a week where bitcoin surged quickly then dropped, traders certainly have strong opinions on recent market activity Read More:Traders ‘Whack the Beehive’ as Bitcoin Surges Then Plunges Rupert Douglas, head of institutional sales at brokerage Koine, believes that the movement’s intention was to wipe out some traders in the derivatives market. “My take is that this sharp rejection is a shakeout of the weak longs,” said Douglas. After the cryptocurrency excitement over the past few days, stock markets across the globe are taking center stage, as all major indices are doing well. Japan’s Nikkei 225 closed its day up 1.6%,led by increased demand in the automotive sector within Asia. The FTSE Eurotop 100 index of the largest stocks by market capitalization ended trading in the green 2.6%as the Eurozone eases lockdowns. Related:Market Wrap: A Bitcoin Lull as Stocks Signal Economic Optimism In the United States, the S&P 500 index was 1.3%, up over 2% so far in June on optimismas businesses begin to reopen amid a global pandemic. “Equities are approaching levels that I think we will see at least a pullback from and I expect that weakness in equities will see strength in bitcoin,” said Koine’s Douglas. Such a situation would only make bitcoin’s recent performance look even better comparatively. Although not exactly a smooth ride, since the start of May, bitcoin is up over 14%, outperforming all the major stock indices. Only the Nikkei 225 is exceeding 10% in the green during the same time, according to data compiled by CoinDesk Research. Read More:ECB Stimulus May Offer Hope After Bitcoin Fails (Again) to Break $10K A quiet day for bitcoin might just be the platform for another price breakout, said Henrik Kugelberg, an over-the-counter cryptocurrency trader based in Sweden.“I have had massive signals of an imminent surge in bitcoin the last couple of days”. Deal flow seems to be skewed towards traders hitting up desks for more crypto during the bitcoin lull Wednesday, Kugelberg told CoinDesk. “Many are buying, and sellers are much more scarce now,” he said. Read More:Miners Are Selling More of Their Bitcoin. That May Actually Be Bullish “My network is split,” said Mostafa Al-Mashita, an executive at digital asset liquidity provider Secure Digital Markets. “Some people are calling for $7,000 bitcoin and others are bullish for $11,000.” Digital assets on CoinDesk’s big board are in the green Wednesday. The second largest cryptocurrency by market capitalization,ether(ETH), the second largest cryptocurrency by market capitalization, climbed 2% in 24 hours as of 20:00 UTC (4:00 p.m. EDT). Read More:Hard Fork is Ethereum Classic’s Second Major Departure From Ethereum Cryptocurrency winners on the day includecardano(ADA) in the green 8%,nem(XEM) climbing 6.7% andiota(IOTA) up 6%. The lone loser Wednesday isbitcoin SV(BSV), down 2%. All price changes were as of 20:00 UTC (4:00 p.m. EDT). Read More:Numerai Raises $3M in Another NMR Token Sale In commodities, gold is in the red, with the yellow metal losing 1.5% and closing at $1,697 at the end of New York trading. Oil is flat on the day, slipping less than a percent as a barrel of crude is priced at $36.74 as of press time. U.S. Treasury bonds climbed Wednesday. Yields, which move in the opposite direction as price, were up most on the 2-year, in the green 11%. • Market Wrap: Traders ‘Whack the Beehive’ as Bitcoin Surges Then Plunges • Bitcoin’s Price Drops by 8% in Less Than 5 Minutes \|\| Latest Bitcoin Core Code Release Protects Against Nation-State Attacks: Bitcoin(BTC) was trading around $9,575 as of 20:00 UTC (4 p.m. ET), gaining less than a percent over the previous 24 hours. After Tuesday’srapid 8% drop in less than five minuteson high sell volume, bitcoin’s prices have steadied. At 00:00 UTC on Wednesday, the world’s largest cryptocurrency by market capitalization was changing hands around $9,528 on spot exchanges like Coinbase. Ten hours later, it staged a small run-up to $9,650 yet low trading volumes dashed any hopes of a substantial rally. Bitcoin is below its 50-day moving averages, signaling a technical sideways bearish sentiment. After an exciting start to a week where bitcoin surged quickly then dropped, traders certainly have strong opinions on recent market activity Read More:Traders ‘Whack the Beehive’ as Bitcoin Surges Then Plunges Rupert Douglas, head of institutional sales at brokerage Koine, believes that the movement’s intention was to wipe out some traders in the derivatives market. “My take is that this sharp rejection is a shakeout of the weak longs,” said Douglas. After the cryptocurrency excitement over the past few days, stock markets across the globe are taking center stage, as all major indices are doing well. Japan’s Nikkei 225 closed its day up 1.6%,led by increased demand in the automotive sector within Asia. The FTSE Eurotop 100 index of the largest stocks by market capitalization ended trading in the green 2.6%as the Eurozone eases lockdowns. Related:Market Wrap: A Bitcoin Lull as Stocks Signal Economic Optimism In the United States, the S&P 500 index was 1.3%, up over 2% so far in June on optimismas businesses begin to reopen amid a global pandemic. “Equities are approaching levels that I think we will see at least a pullback from and I expect that weakness in equities will see strength in bitcoin,” said Koine’s Douglas. Such a situation would only make bitcoin’s recent performance look even better comparatively. Although not exactly a smooth ride, since the start of May, bitcoin is up over 14%, outperforming all the major stock indices. Only the Nikkei 225 is exceeding 10% in the green during the same time, according to data compiled by CoinDesk Research. Read More:ECB Stimulus May Offer Hope After Bitcoin Fails (Again) to Break $10K A quiet day for bitcoin might just be the platform for another price breakout, said Henrik Kugelberg, an over-the-counter cryptocurrency trader based in Sweden.“I have had massive signals of an imminent surge in bitcoin the last couple of days”. Deal flow seems to be skewed towards traders hitting up desks for more crypto during the bitcoin lull Wednesday, Kugelberg told CoinDesk. “Many are buying, and sellers are much more scarce now,” he said. Read More:Miners Are Selling More of Their Bitcoin. That May Actually Be Bullish “My network is split,” said Mostafa Al-Mashita, an executive at digital asset liquidity provider Secure Digital Markets. “Some people are calling for $7,000 bitcoin and others are bullish for $11,000.” Digital assets on CoinDesk’s big board are in the green Wednesday. The second largest cryptocurrency by market capitalization,ether(ETH), the second largest cryptocurrency by market capitalization, climbed 2% in 24 hours as of 20:00 UTC (4:00 p.m. EDT). Read More:Hard Fork is Ethereum Classic’s Second Major Departure From Ethereum Cryptocurrency winners on the day includecardano(ADA) in the green 8%,nem(XEM) climbing 6.7% andiota(IOTA) up 6%. The lone loser Wednesday isbitcoin SV(BSV), down 2%. All price changes were as of 20:00 UTC (4:00 p.m. EDT). Read More:Numerai Raises $3M in Another NMR Token Sale In commodities, gold is in the red, with the yellow metal losing 1.5% and closing at $1,697 at the end of New York trading. Oil is flat on the day, slipping less than a percent as a barrel of crude is priced at $36.74 as of press time. U.S. Treasury bonds climbed Wednesday. Yields, which move in the opposite direction as price, were up most on the 2-year, in the green 11%. • Market Wrap: Traders ‘Whack the Beehive’ as Bitcoin Surges Then Plunges • Bitcoin’s Price Drops by 8% in Less Than 5 Minutes \|\| Latest Bitcoin Core Code Release Protects Against Nation-State Attacks: Bitcoin (BTC) was trading around $9,575 as of 20:00 UTC (4 p.m. ET), gaining less than a percent over the previous 24 hours. After Tuesday’s rapid 8% drop in less than five minutes on high sell volume, bitcoin’s prices have steadied. At 00:00 UTC on Wednesday, the world’s largest cryptocurrency by market capitalization was changing hands around $9,528 on spot exchanges like Coinbase. Ten hours later, it staged a small run-up to $9,650 yet low trading volumes dashed any hopes of a substantial rally. Bitcoin is below its 50-day moving averages, signaling a technical sideways bearish sentiment. After an exciting start to a week where bitcoin surged quickly then dropped, traders certainly have strong opinions on recent market activity Read More: Traders ‘Whack the Beehive’ as Bitcoin Surges Then Plunges Rupert Douglas, head of institutional sales at brokerage Koine, believes that the movement’s intention was to wipe out some traders in the derivatives market. “My take is that this sharp rejection is a shakeout of the weak longs,” said Douglas. Global equities After the cryptocurrency excitement over the past few days, stock markets across the globe are taking center stage, as all major indices are doing well. Japan’s Nikkei 225 closed its day up 1.6%, led by increased demand in the automotive sector within Asia . The FTSE Eurotop 100 index of the largest stocks by market capitalization ended trading in the green 2.6% as the Eurozone eases lockdowns . Related: Market Wrap: A Bitcoin Lull as Stocks Signal Economic Optimism In the United States, the S&P 500 index was 1.3%, up over 2% so far in June on optimism as businesses begin to reopen amid a global pandemic . “Equities are approaching levels that I think we will see at least a pullback from and I expect that weakness in equities will see strength in bitcoin,” said Koine’s Douglas. Such a situation would only make bitcoin’s recent performance look even better comparatively. Although not exactly a smooth ride, since the start of May, bitcoin is up over 14%, outperforming all the major stock indices. Only the Nikkei 225 is exceeding 10% in the green during the same time, according to data compiled by CoinDesk Research. Story continues Read More: ECB Stimulus May Offer Hope After Bitcoin Fails (Again) to Break $10K A quiet day for bitcoin might just be the platform for another price breakout, said Henrik Kugelberg, an over-the-counter cryptocurrency trader based in Sweden.“I have had massive signals of an imminent surge in bitcoin the last couple of days”. Deal flow seems to be skewed towards traders hitting up desks for more crypto during the bitcoin lull Wednesday, Kugelberg told CoinDesk. “Many are buying, and sellers are much more scarce now,” he said. Read More: Miners Are Selling More of Their Bitcoin. That May Actually Be Bullish “My network is split,” said Mostafa Al-Mashita, an executive at digital asset liquidity provider Secure Digital Markets. “Some people are calling for $7,000 bitcoin and others are bullish for $11,000.” Other markets Digital assets on CoinDesk’s big board are in the green Wednesday. The second largest cryptocurrency by market capitalization, ether (ETH), the second largest cryptocurrency by market capitalization, climbed 2% in 24 hours as of 20:00 UTC (4:00 p.m. EDT). Read More: Hard Fork is Ethereum Classic’s Second Major Departure From Ethereum Cryptocurrency winners on the day include cardano (ADA) in the green 8%, nem (XEM) climbing 6.7% and iota (IOTA) up 6%. The lone loser Wednesday is bitcoin SV (BSV), down 2%. All price changes were as of 20:00 UTC (4:00 p.m. EDT). Read More: Numerai Raises $3M in Another NMR Token Sale In commodities, gold is in the red, with the yellow metal losing 1.5% and closing at $1,697 at the end of New York trading. Oil is flat on the day, slipping less than a percent as a barrel of crude is priced at $36.74 as of press time. U.S. Treasury bonds climbed Wednesday. Yields, which move in the opposite direction as price, were up most on the 2-year, in the green 11%. Related Stories Market Wrap: Traders ‘Whack the Beehive’ as Bitcoin Surges Then Plunges Bitcoin’s Price Drops by 8% in Less Than 5 Minutes \|\| Argo’s Mining Revenue Dips After Bitcoin’s Halving: Bitcoin(BTC) was trading around $9,575 as of 20:00 UTC (4 p.m. ET), gaining less than a percent over the previous 24 hours. After Tuesday’srapid 8% drop in less than five minuteson high sell volume, bitcoin’s prices have steadied. At 00:00 UTC on Wednesday, the world’s largest cryptocurrency by market capitalization was changing hands around $9,528 on spot exchanges like Coinbase. Ten hours later, it staged a small run-up to $9,650 yet low trading volumes dashed any hopes of a substantial rally. Bitcoin is below its 50-day moving averages, signaling a technical sideways bearish sentiment. After an exciting start to a week where bitcoin surged quickly then dropped, traders certainly have strong opinions on recent market activity Read More:Traders ‘Whack the Beehive’ as Bitcoin Surges Then Plunges Rupert Douglas, head of institutional sales at brokerage Koine, believes that the movement’s intention was to wipe out some traders in the derivatives market. “My take is that this sharp rejection is a shakeout of the weak longs,” said Douglas. After the cryptocurrency excitement over the past few days, stock markets across the globe are taking center stage, as all major indices are doing well. Japan’s Nikkei 225 closed its day up 1.6%,led by increased demand in the automotive sector within Asia. The FTSE Eurotop 100 index of the largest stocks by market capitalization ended trading in the green 2.6%as the Eurozone eases lockdowns. Related:Market Wrap: A Bitcoin Lull as Stocks Signal Economic Optimism In the United States, the S&P 500 index was 1.3%, up over 2% so far in June on optimismas businesses begin to reopen amid a global pandemic. “Equities are approaching levels that I think we will see at least a pullback from and I expect that weakness in equities will see strength in bitcoin,” said Koine’s Douglas. Such a situation would only make bitcoin’s recent performance look even better comparatively. Although not exactly a smooth ride, since the start of May, bitcoin is up over 14%, outperforming all the major stock indices. Only the Nikkei 225 is exceeding 10% in the green during the same time, according to data compiled by CoinDesk Research. Read More:ECB Stimulus May Offer Hope After Bitcoin Fails (Again) to Break $10K A quiet day for bitcoin might just be the platform for another price breakout, said Henrik Kugelberg, an over-the-counter cryptocurrency trader based in Sweden.“I have had massive signals of an imminent surge in bitcoin the last couple of days”. Deal flow seems to be skewed towards traders hitting up desks for more crypto during the bitcoin lull Wednesday, Kugelberg told CoinDesk. “Many are buying, and sellers are much more scarce now,” he said. Read More:Miners Are Selling More of Their Bitcoin. That May Actually Be Bullish “My network is split,” said Mostafa Al-Mashita, an executive at digital asset liquidity provider Secure Digital Markets. “Some people are calling for $7,000 bitcoin and others are bullish for $11,000.” Digital assets on CoinDesk’s big board are in the green Wednesday. The second largest cryptocurrency by market capitalization,ether(ETH), the second largest cryptocurrency by market capitalization, climbed 2% in 24 hours as of 20:00 UTC (4:00 p.m. EDT). Read More:Hard Fork is Ethereum Classic’s Second Major Departure From Ethereum Cryptocurrency winners on the day includecardano(ADA) in the green 8%,nem(XEM) climbing 6.7% andiota(IOTA) up 6%. The lone loser Wednesday isbitcoin SV(BSV), down 2%. All price changes were as of 20:00 UTC (4:00 p.m. EDT). Read More:Numerai Raises $3M in Another NMR Token Sale In commodities, gold is in the red, with the yellow metal losing 1.5% and closing at $1,697 at the end of New York trading. Oil is flat on the day, slipping less than a percent as a barrel of crude is priced at $36.74 as of press time. U.S. Treasury bonds climbed Wednesday. Yields, which move in the opposite direction as price, were up most on the 2-year, in the green 11%. • Market Wrap: Traders ‘Whack the Beehive’ as Bitcoin Surges Then Plunges • Bitcoin’s Price Drops by 8% in Less Than 5 Minutes \|\| Argo’s Mining Revenue Dips After Bitcoin’s Halving: Bitcoin(BTC) was trading around $9,575 as of 20:00 UTC (4 p.m. ET), gaining less than a percent over the previous 24 hours. After Tuesday’srapid 8% drop in less than five minuteson high sell volume, bitcoin’s prices have steadied. At 00:00 UTC on Wednesday, the world’s largest cryptocurrency by market capitalization was changing hands around $9,528 on spot exchanges like Coinbase. Ten hours later, it staged a small run-up to $9,650 yet low trading volumes dashed any hopes of a substantial rally. Bitcoin is below its 50-day moving averages, signaling a technical sideways bearish sentiment. After an exciting start to a week where bitcoin surged quickly then dropped, traders certainly have strong opinions on recent market activity Read More:Traders ‘Whack the Beehive’ as Bitcoin Surges Then Plunges Rupert Douglas, head of institutional sales at brokerage Koine, believes that the movement’s intention was to wipe out some traders in the derivatives market. “My take is that this sharp rejection is a shakeout of the weak longs,” said Douglas. After the cryptocurrency excitement over the past few days, stock markets across the globe are taking center stage, as all major indices are doing well. Japan’s Nikkei 225 closed its day up 1.6%,led by increased demand in the automotive sector within Asia. The FTSE Eurotop 100 index of the largest stocks by market capitalization ended trading in the green 2.6%as the Eurozone eases lockdowns. Related:Market Wrap: A Bitcoin Lull as Stocks Signal Economic Optimism In the United States, the S&P 500 index was 1.3%, up over 2% so far in June on optimismas businesses begin to reopen amid a global pandemic. “Equities are approaching levels that I think we will see at least a pullback from and I expect that weakness in equities will see strength in bitcoin,” said Koine’s Douglas. Such a situation would only make bitcoin’s recent performance look even better comparatively. Although not exactly a smooth ride, since the start of May, bitcoin is up over 14%, outperforming all the major stock indices. Only the Nikkei 225 is exceeding 10% in the green during the same time, according to data compiled by CoinDesk Research. Read More:ECB Stimulus May Offer Hope After Bitcoin Fails (Again) to Break $10K A quiet day for bitcoin might just be the platform for another price breakout, said Henrik Kugelberg, an over-the-counter cryptocurrency trader based in Sweden.“I have had massive signals of an imminent surge in bitcoin the last couple of days”. Deal flow seems to be skewed towards traders hitting up desks for more crypto during the bitcoin lull Wednesday, Kugelberg told CoinDesk. “Many are buying, and sellers are much more scarce now,” he said. Read More:Miners Are Selling More of Their Bitcoin. That May Actually Be Bullish “My network is split,” said Mostafa Al-Mashita, an executive at digital asset liquidity provider Secure Digital Markets. “Some people are calling for $7,000 bitcoin and others are bullish for $11,000.” Digital assets on CoinDesk’s big board are in the green Wednesday. The second largest cryptocurrency by market capitalization,ether(ETH), the second largest cryptocurrency by market capitalization, climbed 2% in 24 hours as of 20:00 UTC (4:00 p.m. EDT). Read More:Hard Fork is Ethereum Classic’s Second Major Departure From Ethereum Cryptocurrency winners on the day includecardano(ADA) in the green 8%,nem(XEM) climbing 6.7% andiota(IOTA) up 6%. The lone loser Wednesday isbitcoin SV(BSV), down 2%. All price changes were as of 20:00 UTC (4:00 p.m. EDT). Read More:Numerai Raises $3M in Another NMR Token Sale In commodities, gold is in the red, with the yellow metal losing 1.5% and closing at $1,697 at the end of New York trading. Oil is flat on the day, slipping less than a percent as a barrel of crude is priced at $36.74 as of press time. U.S. Treasury bonds climbed Wednesday. Yields, which move in the opposite direction as price, were up most on the 2-year, in the green 11%. • Market Wrap: Traders ‘Whack the Beehive’ as Bitcoin Surges Then Plunges • Bitcoin’s Price Drops by 8% in Less Than 5 Minutes \|\| Argos Mining Revenue Dips After Bitcoins Halving: Bitcoin (BTC) was trading around $9,575 as of 20:00 UTC (4 p.m. ET), gaining less than a percent over the previous 24 hours. After Tuesdays rapid 8% drop in less than five minutes on high sell volume, bitcoins prices have steadied. At 00:00 UTC on Wednesday, the worlds largest cryptocurrency by market capitalization was changing hands around $9,528 on spot exchanges like Coinbase. Ten hours later, it staged a small run-up to $9,650 yet low trading volumes dashed any hopes of a substantial rally. Bitcoin is below its 50-day moving averages, signaling a technical sideways bearish sentiment. After an exciting start to a week where bitcoin surged quickly then dropped, traders certainly have strong opinions on recent market activity Read More: Traders Whack the Beehive as Bitcoin Surges Then Plunges Rupert Douglas, head of institutional sales at brokerage Koine, believes that the movements intention was to wipe out some traders in the derivatives market. My take is that this sharp rejection is a shakeout of the weak longs, said Douglas. Global equities After the cryptocurrency excitement over the past few days, stock markets across the globe are taking center stage, as all major indices are doing well. Japans Nikkei 225 closed its day up 1.6%, led by increased demand in the automotive sector within Asia . The FTSE Eurotop 100 index of the largest stocks by market capitalization ended trading in the green 2.6% as the Eurozone eases lockdowns . Related: Market Wrap: A Bitcoin Lull as Stocks Signal Economic Optimism In the United States, the S&P 500 index was 1.3%, up over 2% so far in June on optimism as businesses begin to reopen amid a global pandemic . Equities are approaching levels that I think we will see at least a pullback from and I expect that weakness in equities will see strength in bitcoin, said Koines Douglas. Such a situation would only make bitcoins recent performance look even better comparatively. Although not exactly a smooth ride, since the start of May, bitcoin is up over 14%, outperforming all the major stock indices. Only the Nikkei 225 is exceeding 10% in the green during the same time, according to data compiled by CoinDesk Research. Story continues Read More: ECB Stimulus May Offer Hope After Bitcoin Fails (Again) to Break $10K A quiet day for bitcoin might just be the platform for another price breakout, said Henrik Kugelberg, an over-the-counter cryptocurrency trader based in Sweden.I have had massive signals of an imminent surge in bitcoin the last couple of days. Deal flow seems to be skewed towards traders hitting up desks for more crypto during the bitcoin lull Wednesday, Kugelberg told CoinDesk. Many are buying, and sellers are much more scarce now, he said. Read More: Miners Are Selling More of Their Bitcoin. That May Actually Be Bullish My network is split, said Mostafa Al-Mashita, an executive at digital asset liquidity provider Secure Digital Markets. Some people are calling for $7,000 bitcoin and others are bullish for $11,000. Other markets Digital assets on CoinDesks big board are in the green Wednesday. The second largest cryptocurrency by market capitalization, ether (ETH), the second largest cryptocurrency by market capitalization, climbed 2% in 24 hours as of 20:00 UTC (4:00 p.m. EDT). Read More: Hard Fork is Ethereum Classics Second Major Departure From Ethereum Cryptocurrency winners on the day include cardano (ADA) in the green 8%, nem (XEM) climbing 6.7% and iota (IOTA) up 6%. The lone loser Wednesday is bitcoin SV (BSV), down 2%. All price changes were as of 20:00 UTC (4:00 p.m. EDT). Read More: Numerai Raises $3M in Another NMR Token Sale In commodities, gold is in the red, with the yellow metal losing 1.5% and closing at $1,697 at the end of New York trading. Oil is flat on the day, slipping less than a percent as a barrel of crude is priced at $36.74 as of press time. U.S. Treasury bonds climbed Wednesday. Yields, which move in the opposite direction as price, were up most on the 2-year, in the green 11%. Related Stories Market Wrap: Traders Whack the Beehive as Bitcoin Surges Then Plunges Bitcoins Price Drops by 8% in Less Than 5 Minutes \|\| Market Wrap: A Bitcoin Lull as Stocks Signal Economic Optimism: TheOffshore Operators Committee, a nonprofit organization focused on offshore energy, has found a blockchain management system reduces costs and time for transporting wastewater. The (OOC)’sOil and Gas Blockchain Consortiumhas completed its first pilot of a produced water haulage management system using blockchain technology. The pilot, the first industry-wide use of a blockchain-native network for produced water haulage, essentially tried to streamline the process of transporting wastewater byproducts collected during the extraction of oil and natural gas, referred to as produced water. The pilot automatically measured volume and generated invoices during the transportation process. Developed in partnership with Data Gumbo, a blockchain software company based in Houston, Texas, the pilot found the new tools reduced the amount of time it takes to transport produced water. The process also required less human intervention and reduced costs, the consortium said. Water logistics and transportation firm Nuverra Environmental Solutions, and an unnamed midstream disposal company worked on the pilot, which was used across five oil and gas wells in the Bakken field in North Dakota. See also:Tradeshift Proposes Plan to Protect Denmark’s Supply Chains From COVID-19 Crisis The OOC Oil and Gas Blockchain Consortium comprises 10 big-name oil and gas member companies, including Chevron, ConocoPhillips, Equinor, ExxonMobil, Hess, Marathon, Noble Energy, Pioneer Natural Resources, Repsol and Shell. Related:Nonprofit Energy Consortium Trials Blockchain Management for Wastewater Tracking The consortium set out to study and define blockchain use cases across the industry value chain in order to solve common pain points. The initial pilot results saw a reduction in the process workflow from 90-120 days down to between one and seven days, and reduced 16 steps to seven that require no manual intervention. In addition, 85% of all volume measurements are now automatically validated against the data provided by the various parties involved, and this figure could climb close to 100%, the release said. Validations during the process automatically triggered the execution of related invoice transactions which reduced financial risk by giving peace of mind that payments matched up with certain field activity. See also:Amazon Patents Blockchain-Based Product Authenticator “The results of this pilot prove that non-manned volume validations can trigger automated payments to vendors, and showcase the opportunities that exist for blockchain to reduce costs, increase efficiency, provide transparency and eliminate disputes in the oil and gas industry,” chairman of the OOC Oil and Gas Blockchain Consortium, Rebecca Hofmann said. The consortium also said that 25%-35% of resources can be reallocated, in comparison to its current business model for the operator and trucking company, thanks to DLT’s inherent benefits. “This is just the tip of the iceberg for the potential of blockchain in our industry,” Hofmann added. • Market Wrap: As Bitcoin Steadies, Oil’s Turmoil Continues • Amazon Patents Blockchain-Based Product Authenticator \|\| Market Wrap: A Bitcoin Lull as Stocks Signal Economic Optimism: TheOffshore Operators Committee, a nonprofit organization focused on offshore energy, has found a blockchain management system reduces costs and time for transporting wastewater. The (OOC)’sOil and Gas Blockchain Consortiumhas completed its first pilot of a produced water haulage management system using blockchain technology. The pilot, the first industry-wide use of a blockchain-native network for produced water haulage, essentially tried to streamline the process of transporting wastewater byproducts collected during the extraction of oil and natural gas, referred to as produced water. The pilot automatically measured volume and generated invoices during the transportation process. Developed in partnership with Data Gumbo, a blockchain software company based in Houston, Texas, the pilot found the new tools reduced the amount of time it takes to transport produced water. The process also required less human intervention and reduced costs, the consortium said. Water logistics and transportation firm Nuverra Environmental Solutions, and an unnamed midstream disposal company worked on the pilot, which was used across five oil and gas wells in the Bakken field in North Dakota. See also:Tradeshift Proposes Plan to Protect Denmark’s Supply Chains From COVID-19 Crisis The OOC Oil and Gas Blockchain Consortium comprises 10 big-name oil and gas member companies, including Chevron, ConocoPhillips, Equinor, ExxonMobil, Hess, Marathon, Noble Energy, Pioneer Natural Resources, Repsol and Shell. Related:Nonprofit Energy Consortium Trials Blockchain Management for Wastewater Tracking The consortium set out to study and define blockchain use cases across the industry value chain in order to solve common pain points. The initial pilot results saw a reduction in the process workflow from 90-120 days down to between one and seven days, and reduced 16 steps to seven that require no manual intervention. In addition, 85% of all volume measurements are now automatically validated against the data provided by the various parties involved, and this figure could climb close to 100%, the release said. Validations during the process automatically triggered the execution of related invoice transactions which reduced financial risk by giving peace of mind that payments matched up with certain field activity. See also:Amazon Patents Blockchain-Based Product Authenticator “The results of this pilot prove that non-manned volume validations can trigger automated payments to vendors, and showcase the opportunities that exist for blockchain to reduce costs, increase efficiency, provide transparency and eliminate disputes in the oil and gas industry,” chairman of the OOC Oil and Gas Blockchain Consortium, Rebecca Hofmann said. The consortium also said that 25%-35% of resources can be reallocated, in comparison to its current business model for the operator and trucking company, thanks to DLT’s inherent benefits. “This is just the tip of the iceberg for the potential of blockchain in our industry,” Hofmann added. • Market Wrap: As Bitcoin Steadies, Oil’s Turmoil Continues • Amazon Patents Blockchain-Based Product Authenticator \|\| Market Wrap: A Bitcoin Lull as Stocks Signal Economic Optimism: The Offshore Operators Committee , a nonprofit organization focused on offshore energy, has found a blockchain management system reduces costs and time for transporting wastewater. The (OOC)’s Oil and Gas Blockchain Consortium has completed its first pilot of a produced water haulage management system using blockchain technology. The pilot, the first industry-wide use of a blockchain-native network for produced water haulage, essentially tried to streamline the process of transporting wastewater byproducts collected during the extraction of oil and natural gas, referred to as produced water. The pilot automatically measured volume and generated invoices during the transportation process. Developed in partnership with Data Gumbo, a blockchain software company based in Houston, Texas, the pilot found the new tools reduced the amount of time it takes to transport produced water. The process also required less human intervention and reduced costs, the consortium said. Water logistics and transportation firm Nuverra Environmental Solutions, and an unnamed midstream disposal company worked on the pilot, which was used across five oil and gas wells in the Bakken field in North Dakota. See also: Tradeshift Proposes Plan to Protect Denmark’s Supply Chains From COVID-19 Crisis The OOC Oil and Gas Blockchain Consortium comprises 10 big-name oil and gas member companies, including Chevron, ConocoPhillips, Equinor, ExxonMobil, Hess, Marathon, Noble Energy, Pioneer Natural Resources, Repsol and Shell. Related: Nonprofit Energy Consortium Trials Blockchain Management for Wastewater Tracking The consortium set out to study and define blockchain use cases across the industry value chain in order to solve common pain points. The initial pilot results saw a reduction in the process workflow from 90-120 days down to between one and seven days, and reduced 16 steps to seven that require no manual intervention. In addition, 85% of all volume measurements are now automatically validated against the data provided by the various parties involved, and this figure could climb close to 100%, the release said. Story continues Validations during the process automatically triggered the execution of related invoice transactions which reduced financial risk by giving peace of mind that payments matched up with certain field activity. See also: Amazon Patents Blockchain-Based Product Authenticator “The results of this pilot prove that non-manned volume validations can trigger automated payments to vendors, and showcase the opportunities that exist for blockchain to reduce costs, increase efficiency, provide transparency and eliminate disputes in the oil and gas industry,” chairman of the OOC Oil and Gas Blockchain Consortium, Rebecca Hofmann said. The consortium also said that 25%-35% of resources can be reallocated, in comparison to its current business model for the operator and trucking company, thanks to DLT’s inherent benefits. “This is just the tip of the iceberg for the potential of blockchain in our industry,” Hofmann added. Related Stories Market Wrap: As Bitcoin Steadies, Oil’s Turmoil Continues Amazon Patents Blockchain-Based Product Authenticator \|\| Nonprofit Energy Consortium Trials Blockchain Management for Wastewater Tracking: From the largest 50-day rally in history to the highest unemployment since the Great Depression, the story of markets in five key numbers Formore episodesand free early access before our regular 3 p.m. Eastern time releases, subscribe withApple Podcasts,Spotify,Pocketcasts,Google Podcasts,Castbox,Stitcher,RadioPublica,iHeartRadioorRSS. This episode is sponsored byBitstampandCiphertrace. Related:5 Numbers That Tell the Story of Markets Right Now Every day that protests continue and stocks go up, more people ask about the disconnect between the real economy and capital markets. In this episode of The Breakdown, NLW peels back the story of today’s economy by looking at five numbers: • The growth of the S&P 500 since the March 23 low • Current unemployment stats and a Bloomberg Economics estimate of the number of jobs at risk • The performance of the S&P 500 in 1968, one of the most tumultuous years in American history • The total percentage of the world’s debt denominated in dollar terms • The number of flights between the U.S. and China by Chinese airlines going forward See also:Where Bitcoin Fits in the New Monetary Order Formore episodesand free early access before our regular 3 p.m. Eastern time releases, subscribe withApple Podcasts,Spotify,Pocketcasts,Google Podcasts,Castbox,Stitcher,RadioPublica,iHeartRadioorRSS. • First Mover: ECB Stimulus May Offer Market Hope After Bitcoin Fails (Again) to Break $10K • Cellphones, Bitcoin and the Citizen Tools of Anti-Authoritarianism, Feat. Alex Gladstein • Bitcoin News Roundup for June 2, 2020 \|\| Nonprofit Energy Consortium Trials Blockchain Management for Wastewater Tracking: From the largest 50-day rally in history to the highest unemployment since the Great Depression, the story of markets in five key numbers For more episodes and free early access before our regular 3 p.m. Eastern time releases, subscribe with Apple Podcasts , Spotify , Pocketcasts , Google Podcasts , Castbox , Stitcher , RadioPublica , iHeartRadio or RSS . This episode is sponsored by Bitstamp and Ciphertrace . Related: 5 Numbers That Tell the Story of Markets Right Now Every day that protests continue and stocks go up, more people ask about the disconnect between the real economy and capital markets. In this episode of The Breakdown, NLW peels back the story of todays economy by looking at five numbers: The growth of the S&P 500 since the March 23 low Current unemployment stats and a Bloomberg Economics estimate of the number of jobs at risk The performance of the S&P 500 in 1968, one of the most tumultuous years in American history The total percentage of the worlds debt denominated in dollar terms The number of flights between the U.S. and China by Chinese airlines going forward See also: Where Bitcoin Fits in the New Monetary Order For more episodes and free early access before our regular 3 p.m. Eastern time releases, subscribe with Apple Podcasts , Spotify , Pocketcasts , Google Podcasts , Castbox , Stitcher , RadioPublica , iHeartRadio or RSS . Related Stories First Mover: ECB Stimulus May Offer Market Hope After Bitcoin Fails (Again) to Break $10K Cellphones, Bitcoin and the Citizen Tools of Anti-Authoritarianism, Feat. Alex Gladstein Bitcoin News Roundup for June 2, 2020 \|\| 5 Numbers That Tell the Story of Markets Right Now: Despite Tuesday’s sudden price decline, miner flows suggest the bitcoin market remains strong. The biggest cryptocurrency by market valuefell 8% from $10,137 to $9,298in less than 5 minutes during Tuesday’s U.S. trading hours, dashing hopes for a continued upward move. The price drop, however, has not deterred miners from running down their inventory. According to data sourceByteTree, miners have sold 920 BTC and generated 844 BTC in the past 24 hours, pushing their inventory down by 76 BTC and keeping the miner’s rolling inventory (MRI) figure above 100%. “Miners HODL [hold] when the market is weak, not because they are bullish, but because the market can’t take it. When they can sell, it is an indication that the market is well supported,” said ByteTree founder and chairman Charlie Morris, who added that the MRI is currently high. Morris’ theory contradicts popular belief that miners, being sellers, would want to sell high and hoard their bitcoin when prices are expected to rise. However, the conventional wisdom could be challenged because miners mainly operate on cash, meaning they need to liquidate their holdings almost daily to fund the cost of mining. This is evident from the fact that miners account forthe highest percentage of total bitcoin flowing into exchanges. Related:Miners Are Selling More of Their Bitcoin. That May Actually Be Bullish And while they have the biggest influence on prices, gyrations in price affect mining profitability. A sustained price drop often crowds out small and inefficient miners from the market. Miners, therefore, would want to sell less in a market lacking the strength to absorb their offers. On the contrary, they would be inclined to sell more when the upward momentum is strong. Hence, it could be said that the increased supply seen in the past 24 hours is a sign of miner confidence in a broader bull market, although some observers may argue that 24-hour changes are too small to draw valid conclusions. However, inventory has declined over the past week amid the price rise. Bitcoin is currently up 6% on a week-on-week basis despite miners running down inventory by 504 BTC. Similarly, miners have sold more than what they generated throughout the uptrend from the March low of $3,867 to recent highs near $10,400. At press time, bitcoin is changing hands near $9,580, representing a 0.5% gain on the day. Analysts expect deeper declines in the near term. “A break below $8,800 will see more aggressive selling,” said Nicholas Pelecanos, head of trading at NEM Ventures. “$8500 is the last support before price moves toward $7,000.” • Bitcoin’s Price Drops by 8% in Less Than 5 Minutes • BitMEX Sees Biggest Short Squeeze in 8 Months After Bitcoin Surge \|\| 5 Numbers That Tell the Story of Markets Right Now: Despite Tuesdays sudden price decline, miner flows suggest the bitcoin market remains strong. The biggest cryptocurrency by market value fell 8% from $10,137 to $9,298 in less than 5 minutes during Tuesdays U.S. trading hours, dashing hopes for a continued upward move. The price drop, however, has not deterred miners from running down their inventory. According to data source ByteTree , miners have sold 920 BTC and generated 844 BTC in the past 24 hours, pushing their inventory down by 76 BTC and keeping the miners rolling inventory (MRI) figure above 100%. Miners HODL [hold] when the market is weak, not because they are bullish, but because the market cant take it. When they can sell, it is an indication that the market is well supported, said ByteTree founder and chairman Charlie Morris, who added that the MRI is currently high. Morris theory contradicts popular belief that miners, being sellers, would want to sell high and hoard their bitcoin when prices are expected to rise. However, the conventional wisdom could be challenged because miners mainly operate on cash, meaning they need to liquidate their holdings almost daily to fund the cost of mining. This is evident from the fact that miners account for the highest percentage of total bitcoin flowing into exchanges . Related: Miners Are Selling More of Their Bitcoin. That May Actually Be Bullish And while they have the biggest influence on prices, gyrations in price affect mining profitability. A sustained price drop often crowds out small and inefficient miners from the market. Miners, therefore, would want to sell less in a market lacking the strength to absorb their offers. On the contrary, they would be inclined to sell more when the upward momentum is strong. Hence, it could be said that the increased supply seen in the past 24 hours is a sign of miner confidence in a broader bull market, although some observers may argue that 24-hour changes are too small to draw valid conclusions. Story continues However, inventory has declined over the past week amid the price rise. Bitcoin is currently up 6% on a week-on-week basis despite miners running down inventory by 504 BTC. Similarly, miners have sold more than what they generated throughout the uptrend from the March low of $3,867 to recent highs near $10,400. At press time, bitcoin is changing hands near $9,580, representing a 0.5% gain on the day. Analysts expect deeper declines in the near term. A break below $8,800 will see more aggressive selling, said Nicholas Pelecanos, head of trading at NEM Ventures. $8500 is the last support before price moves toward $7,000. Related Stories Bitcoins Price Drops by 8% in Less Than 5 Minutes BitMEX Sees Biggest Short Squeeze in 8 Months After Bitcoin Surge \|\| How Proton Chain Plans to Disrupt the Payment System: Easyjet is the latest big firm to admit to a data breach, joining the likes of Adobe, eBay (NASDAQ: EBAY ), and Marriott (NYSE: MAR ), all of which have been similarly hit in the past. The European airline recently admitted that hackers had stolen user data - including credit card details - of thousands of its customers. Even now that our credit cards are supposedly secured with chip and pin technology, online hackers often only need the numbers shown on the card itself, such as the expiry date and CVV code. Some providers now use a second layer of authentication. However, these are often transmitted using standard, unencrypted telecommunication channels that are easily monitored by hackers. Banks face many of the same risks. A study by UK consumer rights advocate Which found that among 12 high street banks, three had inadequate measures for logins and two for account management, including approving new payees and editing account details. [caption id="attachment_529600" align="aligncenter" width="750"] Denys Prykhodov/Shutterstock.com[/caption] The security pressure on banks is part of the reason that transactions often take days to clear, as they pass through automated clearinghouses designed to assume the counterparty risks. Now, two projects in the cryptocurrency and blockchain space have united in their shared vision of making cryptocurrencies more accessible, developing a new payment ecosystem called Proton Chain. Intriguingly, it seems that this particular implementation of blockchain could overcome the data privacy challenges of traditional payments. The Unrealized Potential of Blockchain Using blockchain technology, which is centered around the idea of key encryption, offers the potential to solve many of the security issues facing banks. Today’s high-speed blockchains can also enable near-instant payment settlement. But until now, nobody has come up with a way for traditional finance to interact directly with a blockchain. Furthermore, the banks are reluctant to get involved with cryptocurrency, in part due to the fact that there are no native compliance tools. It also seems that old prejudices against crypto are dying hard. Leaked documents from Goldman Sachs (NYSE: GS ) recently revealed that the firm is advising its customers that Bitcoin “is not an asset class” despite the fact that it’s offered returns of 1,900% since 2016. [caption id="attachment_839196" align="aligncenter" width="603"] Source: Coinmarketcap[/caption] All of these factors combined add up to a generally poor experience as far as payments are concerned. We’re required to hand over details such as our phone numbers or email addresses for transactions that take days to process. Nevertheless, hacks such as the easyJet ones still occur. Story continues Perhaps surprisingly, few in the crypto space appear to recognize the fact that they also suffer from these issues. The past twelve months have seen much talk of scalability, interoperability, decentralized finance, and crypto-derivatives. But in the meantime, the Chinese Walls between crypto and traditional finance stand strong. It takes as long for a fiat-to-crypto transaction as it does for a fiat-to-fiat, yet crypto-to-crypto can be almost instant. A Novel Approach to Identity Recently, two companies in the crypto space underwent a merger with the aim of achieving their shared vision - to enable mass adoption of digital currencies. They’ve created a new blockchain called Proton Chain that can bridge the gaps between crypto and traditional finance. At the same time, Proton Chain brings the speed, security, and flexibility of cryptocurrency to traditional finance. The central premise of Proton is the concept of using an @name as an identifier, similar to Twitter. Once a user claims their handle, it undergoes a rigorous identity checking process to comply with KYC and AML requirements. After that, the user can verify a transaction simply by providing their handle, which acts as an authenticator. Perhaps the most intriguing aspect of Proton is that any fiat payment provider can tap into the protocol. So this means that the user can push or pull fiat or crypto payments between any accounts on any network using the protocol. The Proton blockchain processes up to 5,000 transactions per second, offering a near-instant settlement. [caption id="attachment_839197" align="aligncenter" width="601"] Source: protonchain.com[/caption] Metal - Proving the Concept The blockchain is simply the enabling layer. The two projects that merged to build Proton are Lynx and Metal. Lynx was already operating its own crypto wallet app and blockchain, called Lynxchain. Once they agreed to merge, the projects joined forces to deliver Proton, which is based on Lynxchain but expanded with the identity layer. The Proton Chain is now intended to become the rails on which Metal Pay, Metal’s flagship, will run its application, which is a payment service. The project has laid out its roadmap for the development of Metal Pay 3.0, which will serve as a proof of concept for how the Proton chain protocol can be incorporated by any payment provider such as Venmo, Alipay, or PayPal. The first step is to integrate the identity protocol into Metal Pay. Once it gains traction, users can take advantage of instant, secure payments while having seamless access to crypto for spending on purchases or in dApps. Later developments will include support for additional fiat currencies such as Euro and Pounds Sterling. The Metal Pay app supports FDIC-insured banks by allowing users to link their bank accounts with the app. Essentially, this means that Metal Pay accounts linked to FDIC-insured accounts benefit from the same level of insurance. The complexities around online payment security exist because the payment industry has evolved in an iterative process. However, this has led to a sub-par user experience. Meanwhile, the crypto sector has struggled to break down the barriers to traditional finance. The Proton approach is taking a fresh perspective on both problems. In doing so, it’s managed to develop a unique approach to payments that benefits and bridges traditional and crypto finance. View comments \|\| How Proton Chain Plans to Disrupt the Payment System: Easyjet is thelatest big firmto admit to a data breach, joining the likes of Adobe, eBay (NASDAQ:EBAY), and Marriott (NYSE:MAR),all of whichhave been similarly hit in the past. The European airline recently admitted that hackers had stolen user data - including credit card details - of thousands of its customers. Even now that our credit cards are supposedly secured with chip and pin technology, online hackers often only need the numbers shown on the card itself, such as the expiry date and CVV code. Some providers now use a second layer of authentication. However, these are often transmitted using standard, unencrypted telecommunication channels that are easily monitored by hackers. Banks face many of the same risks. Astudyby UK consumer rights advocate Which found that among 12 high street banks, three had inadequate measures for logins and two for account management, including approving new payees and editing account details. [caption id="attachment_529600" align="aligncenter" width="750"] Denys Prykhodov/Shutterstock.com[/caption] The security pressure on banks is part of the reason that transactions often take days to clear, as they pass through automated clearinghouses designed to assume the counterparty risks. Now, two projects in the cryptocurrency and blockchain space have united in their shared vision of making cryptocurrencies more accessible, developing a new payment ecosystem called Proton Chain. Intriguingly, it seems that this particular implementation of blockchain could overcome the data privacy challenges of traditional payments. Using blockchain technology, which is centered around the idea of key encryption, offers the potential to solve many of the security issues facing banks. Today’s high-speed blockchains can also enable near-instant payment settlement. But until now, nobody has come up with a way for traditional finance to interact directly with a blockchain. Furthermore, the banks are reluctant to get involved with cryptocurrency, in part due to the fact that there are no native compliance tools. It also seems that old prejudices against crypto are dying hard. Leaked documents from Goldman Sachs (NYSE:GS) recentlyrevealedthat the firm is advising its customers that Bitcoin “is not an asset class” despite the fact that it’s offered returns of 1,900% since 2016. [caption id="attachment_839196" align="aligncenter" width="603"] Source: Coinmarketcap[/caption] All of these factors combined add up to a generally poor experience as far as payments are concerned. We’re required to hand over details such as our phone numbers or email addresses for transactions that take days to process. Nevertheless, hacks such as the easyJet ones still occur. Perhaps surprisingly, few in the crypto space appear to recognize the fact that they also suffer from these issues. The past twelve months have seen much talk of scalability, interoperability, decentralized finance, and crypto-derivatives. But in the meantime, the Chinese Walls between crypto and traditional finance stand strong. It takes as long for a fiat-to-crypto transaction as it does for a fiat-to-fiat, yet crypto-to-crypto can be almost instant. Recently, two companies in the crypto space underwent a merger with the aim of achieving their shared vision - to enable mass adoption of digital currencies. They’ve created a new blockchain calledProton Chainthat can bridge the gaps between crypto and traditional finance. At the same time, Proton Chain brings the speed, security, and flexibility of cryptocurrency to traditional finance. The central premise of Proton is the concept of using an @name as an identifier, similar to Twitter. Once a user claims their handle, it undergoes a rigorous identity checking process to comply with KYC and AML requirements. After that, the user can verify a transaction simply by providing their handle, which acts as an authenticator. Perhaps the most intriguing aspect of Proton is that any fiat payment provider can tap into the protocol. So this means that the user can push or pull fiat or crypto payments between any accounts on any network using the protocol. The Proton blockchain processes up to 5,000 transactions per second, offering a near-instant settlement. [caption id="attachment_839197" align="aligncenter" width="601"] Source: protonchain.com[/caption] The blockchain is simply the enabling layer. The two projects that merged to build Proton are Lynx and Metal. Lynx was already operating its own crypto wallet app and blockchain, called Lynxchain. Once they agreed to merge, the projects joined forces to deliver Proton, which is based on Lynxchain but expanded with the identity layer. The Proton Chain is now intended to become the rails on which Metal Pay, Metal’s flagship, will run its application, which is a payment service. The project has laid out its roadmap for the development of Metal Pay 3.0, which will serve as a proof of concept for how the Proton chain protocol can be incorporated by any payment provider such as Venmo, Alipay, or PayPal. The first step is to integrate the identity protocol into Metal Pay. Once it gains traction, users can take advantage of instant, secure payments while having seamless access to crypto for spending on purchases or in dApps. Later developments will include support for additional fiat currencies such as Euro and Pounds Sterling. The Metal Pay app supports FDIC-insured banks by allowing users to link their bank accounts with the app. Essentially, this means that Metal Pay accounts linked to FDIC-insured accounts benefit from the same level of insurance. The complexities around online payment security exist because the payment industry has evolved in an iterative process. However, this has led to a sub-par user experience. Meanwhile, the crypto sector has struggled to break down the barriers to traditional finance. The Proton approach is taking a fresh perspective on both problems. In doing so, it’s managed to develop a unique approach to payments that benefits and bridges traditional and crypto finance. \|\| Miners Are Selling More of Their Bitcoin. That May Actually Be Bullish: Top shelf Data Breach Coincheck has fallen victim to a data breach after attackers accessed one of its domain name accounts and used it to impersonate the cryptocurrency exchange. The Japanese firm said Tuesday that an unknown third party gained access to an account it held with domain registration service Onamae.com. An incident notice suggested the attackers then used its .jp domain account to send “fraudulent” emails to customers. Hard Fork Ethereum Classic completed its “Phoenix” hard fork making the network fully compatible with Ethereum. The hard fork represents a major departure for Ethereum Classic, which is sticking with Proof-of-Work (PoW) while its sister chain moves to Proof-of-Stake (PoS) and sharding. You’re reading Blockchain Bites , the daily roundup of the most pivotal stories in blockchain and crypto news, and why they’re significant. You can subscribe to this and all of CoinDesk’s newsletters here . Mainnet Matic, a sidechain scaling solution for Ethereum, began deploying its mainnet, which allows the network to run dapps and support asset transfers to and from the ethereum mainchain. The India-based Matic Foundation announced via a blog post that it had brought 10 nodes online and hopes to grow tenfold. Angel Round Crypto bank Avanti raised a $5 million angel round led by the University of Wyoming Foundation with participation from Anthony Pompliano’s Morgan Creek Digital, Blockchain Capital, Digital Currency Group, Lemniscap, Madison Paige Ventures and others. Civil Closure Blockchain journalism startup Civil is shutting down, with its team moving to the employ of parent company ConsenSys. “This pivot led to closer coordination with ConsenSys and the team building solutions for identity and provenance tracking, which in turn started conversations about a strategic merger,” Civil CEO Matthew Iles said. Story continues New IPO Renewable energy services provider WPO has won approval from the French financial markets regulator to raise funding through an ICO. WPO will hold a sale of its GreenToken (GTK) with the expectation of raising €10 million ($11.2 million). Market intel Related: Blockchain Bites: Avanti’s Angel Round, Civil’s Closure and a Data Breach Quantitative Easing Prices for bitcoin shot up 8% on Monday to a three-month high around $10,200, then quickly reversed on Tuesday, falling back to about $9,500. Some investors are looking ahead to Thursday’s European Central Bank meeting for fresh monetary stimulus that might underscore the cryptocurrency’s potential as an inflation hedge. CoinDesk Research CoinDesk Research: May 2020 Review Bitcoin’s returns continue to outpace stocks, bonds and gold, and so does its volatility. Spot exchange volumes probed historic highs in May and bitcoin options markets passed a milestone and didn’t look back. Outperforming crypto assets a couple of use-specific crypto tokens that topped crypto returns for the month. Download the full report here. Who won #CrypoTwitter? Related Stories First Mover: BSV Doubles in 2020 as Bitcoin Offshoot Wins Devotees Blockchain Bites: Chase Class Action, 30 Words for Censorship and a Bitcoin Bug \|\| Miners Are Selling More of Their Bitcoin. That May Actually Be Bullish: Data BreachCoincheck has fallenvictim to a data breachafter attackers accessed one of its domain name accounts and used it to impersonate the cryptocurrency exchange. The Japanese firm said Tuesday that an unknown third party gained access to an account it held with domain registration service Onamae.com. An incident notice suggested the attackers then used its .jp domain account to send “fraudulent” emails to customers. Hard ForkEthereum Classic completed its “Phoenix” hard fork making thenetwork fully compatible with Ethereum.The hard fork represents a major departure for Ethereum Classic, which is sticking with Proof-of-Work (PoW) while its sister chain moves to Proof-of-Stake (PoS) and sharding. You’re readingBlockchain Bites, the daily roundup of the most pivotal stories in blockchain and crypto news, and why they’re significant. You can subscribe to this and all of CoinDesk’snewsletters here. MainnetMatic, a sidechain scaling solution for Ethereum, began deploying its mainnet, which allows the network torun dapps and support asset transfersto and from the ethereum mainchain. The India-based Matic Foundation announced via a blog post that it had brought 10 nodes online and hopes to grow tenfold. Angel RoundCrypto bankAvanti raised a $5 million angel roundled by the University of Wyoming Foundation with participation from Anthony Pompliano’s Morgan Creek Digital, Blockchain Capital, Digital Currency Group, Lemniscap, Madison Paige Ventures and others. Civil ClosureBlockchain journalism startupCivil is shutting down,with its team moving to the employ of parent company ConsenSys. “This pivot led to closer coordination with ConsenSys and the team building solutions for identity and provenance tracking, which in turn started conversations about a strategic merger,” Civil CEO Matthew Iles said. New IPORenewable energy services provider WPO has won approval from the French financial markets regulator toraise funding through an ICO.WPO will hold a sale of its GreenToken (GTK) with the expectation of raising €10 million ($11.2 million). Related:Blockchain Bites: Avanti’s Angel Round, Civil’s Closure and a Data Breach Quantitative EasingPrices for bitcoin shot up 8% on Monday to a three-month high around $10,200, then quickly reversed on Tuesday,falling back to about $9,500.Some investors are looking ahead to Thursday’s European Central Bank meeting for fresh monetary stimulus that might underscore the cryptocurrency’s potential as an inflation hedge. CoinDesk Research: May 2020 ReviewBitcoin’s returns continue to outpace stocks, bonds and gold, and so does its volatility. Spot exchange volumes probed historic highs in May and bitcoin options markets passed a milestone and didn’t look back. Outperforming crypto assets a couple of use-specific crypto tokens that topped crypto returns for the month.Download the full report here. • First Mover: BSV Doubles in 2020 as Bitcoin Offshoot Wins Devotees • Blockchain Bites: Chase Class Action, 30 Words for Censorship and a Bitcoin Bug \|\| Miners Are Selling More of Their Bitcoin. That May Actually Be Bullish: Data BreachCoincheck has fallenvictim to a data breachafter attackers accessed one of its domain name accounts and used it to impersonate the cryptocurrency exchange. The Japanese firm said Tuesday that an unknown third party gained access to an account it held with domain registration service Onamae.com. An incident notice suggested the attackers then used its .jp domain account to send “fraudulent” emails to customers. Hard ForkEthereum Classic completed its “Phoenix” hard fork making thenetwork fully compatible with Ethereum.The hard fork represents a major departure for Ethereum Classic, which is sticking with Proof-of-Work (PoW) while its sister chain moves to Proof-of-Stake (PoS) and sharding. You’re readingBlockchain Bites, the daily roundup of the most pivotal stories in blockchain and crypto news, and why they’re significant. You can subscribe to this and all of CoinDesk’snewsletters here. MainnetMatic, a sidechain scaling solution for Ethereum, began deploying its mainnet, which allows the network torun dapps and support asset transfersto and from the ethereum mainchain. The India-based Matic Foundation announced via a blog post that it had brought 10 nodes online and hopes to grow tenfold. Angel RoundCrypto bankAvanti raised a $5 million angel roundled by the University of Wyoming Foundation with participation from Anthony Pompliano’s Morgan Creek Digital, Blockchain Capital, Digital Currency Group, Lemniscap, Madison Paige Ventures and others. Civil ClosureBlockchain journalism startupCivil is shutting down,with its team moving to the employ of parent company ConsenSys. “This pivot led to closer coordination with ConsenSys and the team building solutions for identity and provenance tracking, which in turn started conversations about a strategic merger,” Civil CEO Matthew Iles said. New IPORenewable energy services provider WPO has won approval from the French financial markets regulator toraise funding through an ICO.WPO will hold a sale of its GreenToken (GTK) with the expectation of raising €10 million ($11.2 million). Related:Blockchain Bites: Avanti’s Angel Round, Civil’s Closure and a Data Breach Quantitative EasingPrices for bitcoin shot up 8% on Monday to a three-month high around $10,200, then quickly reversed on Tuesday,falling back to about $9,500.Some investors are looking ahead to Thursday’s European Central Bank meeting for fresh monetary stimulus that might underscore the cryptocurrency’s potential as an inflation hedge. CoinDesk Research: May 2020 ReviewBitcoin’s returns continue to outpace stocks, bonds and gold, and so does its volatility. Spot exchange volumes probed historic highs in May and bitcoin options markets passed a milestone and didn’t look back. Outperforming crypto assets a couple of use-specific crypto tokens that topped crypto returns for the month.Download the full report here. • First Mover: BSV Doubles in 2020 as Bitcoin Offshoot Wins Devotees • Blockchain Bites: Chase Class Action, 30 Words for Censorship and a Bitcoin Bug \|\| Numerai Raises $3M in Another NMR Token Sale With Union Square Ventures, Placeholder: Coincheck has fallen victim to a data breach after attackers accessed one of its domain name accounts and used it to impersonate the cryptocurrency exchange. The Japanese firm – which fell victim to possibly thelargest crypto hackin history in 2018 – said Tuesday that an unknown third party gained access to an account it held with domain registration service Onamae.com. Anincident noticesuggested the attackers then used its .jp domain account to send “fraudulent” emails to customers. “A third party who made unauthorized access (hereinafter, a third party) fraudulently sent some emails from our customers during the period from May 31 to June 1, 2020,” reads the report. “It turned out that [the domain name] was in a state where it could be acquired.” Around 200 customers who sent replies to emails from the attackers are said to have data exposed. Coincheck said personal identifying information such as names, addresses and ID photos may have been illegally obtained. It’s possible that hackers were phishing for “know your customer” verification details so they could access client accounts, but the motive remains unclear. See also:BlockFi Says Hacker SIM-Swapped Employee’s Phone, No Funds Were Lost How the third parties were allowed to gain access to Coincheck’s domain account is currently being investigated by the registration firm, Coincheck said. Although the exchange said funds had not been lost in the attack, it’s suspended crypto remittances until Onamae’s investigation is complete. All other services, including fiat deposits and withdrawals, as well as cryptocurrency trading, remain operational at this time. Related:Coincheck Customers Fall Victim to Data Breach After Domain Account Error For customers seeking support, the firm is requesting that emails are sent to an address at coincheck.jp, not coincheck.com for the time being. CoinDesk approached Coincheck for more precise details on the breach, but hadn’t received a response by press time. • Number of Bitcoins on Crypto Exchanges Hits 18-Month Low • Caught Up in Steem Squabble, Bittrex to Return Tokens Diverted in Hard Fork \|\| Numerai Raises $3M in Another NMR Token Sale With Union Square Ventures, Placeholder: Coincheck has fallen victim to a data breach after attackers accessed one of its domain name accounts and used it to impersonate the cryptocurrency exchange. The Japanese firm – which fell victim to possibly the largest crypto hack in history in 2018 – said Tuesday that an unknown third party gained access to an account it held with domain registration service Onamae.com. An incident notice suggested the attackers then used its .jp domain account to send “fraudulent” emails to customers. “A third party who made unauthorized access (hereinafter, a third party) fraudulently sent some emails from our customers during the period from May 31 to June 1, 2020,” reads the report. “It turned out that [the domain name] was in a state where it could be acquired.” Around 200 customers who sent replies to emails from the attackers are said to have data exposed. Coincheck said personal identifying information such as names, addresses and ID photos may have been illegally obtained. It’s possible that hackers were phishing for “know your customer” verification details so they could access client accounts, but the motive remains unclear. See also: BlockFi Says Hacker SIM-Swapped Employee’s Phone, No Funds Were Lost How the third parties were allowed to gain access to Coincheck’s domain account is currently being investigated by the registration firm, Coincheck said. Although the exchange said funds had not been lost in the attack, it’s suspended crypto remittances until Onamae’s investigation is complete. All other services, including fiat deposits and withdrawals, as well as cryptocurrency trading, remain operational at this time. Related: Coincheck Customers Fall Victim to Data Breach After Domain Account Error For customers seeking support, the firm is requesting that emails are sent to an address at coincheck.jp, not coincheck.com for the time being. CoinDesk approached Coincheck for more precise details on the breach, but hadn’t received a response by press time. Related Stories Number of Bitcoins on Crypto Exchanges Hits 18-Month Low Caught Up in Steem Squabble, Bittrex to Return Tokens Diverted in Hard Fork View comments [Social Media Buzz] None available.	9665.53, 9653.68, 9758.85, 9771.49, 9795.70, 9870.09, 9321.78, 9480.84, 9475.28, 9386.79
Given the historical Bitcoin prices from the last 90 days, predict the next 10 daily closing prices. The historical prices are: 5623.54, 4871.49, 4451.87, 4602.17, 4365.94, 4347.11, 3880.76, 4009.97, 3779.13, 3820.72, 4257.42, 4278.85, 4017.27, 4214.67, 4139.88, 3894.13, 3956.89, 3753.99, 3521.10, 3419.94, 3476.11, 3614.23, 3502.66, 3424.59, 3486.95, 3313.68, 3242.48, 3236.76, 3252.84, 3545.86, 3696.06, 3745.95, 4134.44, 3896.54, 4014.18, 3998.98, 4078.60, 3815.49, 3857.30, 3654.83, 3923.92, 3820.41, 3865.95, 3742.70, 3843.52, 3943.41, 3836.74, 3857.72, 3845.19, 4076.63, 4025.25, 4030.85, 4035.30, 3678.92, 3687.37, 3661.30, 3552.95, 3706.05, 3630.68, 3655.01, 3678.56, 3657.84, 3728.57, 3601.01, 3576.03, 3604.58, 3585.12, 3600.87, 3599.77, 3602.46, 3583.97, 3470.45, 3448.12, 3486.18, 3457.79, 3487.95, 3521.06, 3464.01, 3459.15, 3466.36, 3413.77, 3399.47, 3666.78, 3671.20, 3690.19, 3648.43, 3653.53, 3632.07, 3616.88, 3620.81.	[Bitcoin Technical Analysis for 2019-02-15] Volume: 6091952231, RSI (14-day): 51.73, 50-day EMA: 3711.00, 200-day EMA: 5046.59 [Wider Market Context] Gold Price: 1318.10, Gold RSI: 66.27 Oil Price: 55.59, Oil RSI: 61.65 [Recent News (last 7 days)] Will Valentine’s Day End in Heartbreak for Bitcoin Bulls?: The cryptocurrency market held above $120 billion heading into Thursday evening, but could Bitcoin be setting up investors for a post-Valentine’s Day heartbreak? Bitcoin and the rest of the top 5 cryptocurrencies had a pretty boring 24-hour period. The notable moves happened at the opposite end of the market cap spectrum, with Steem gaining 3% and NEM, 2%. Of the top 10 non-stablecoins, only Bitcoin Cash saw any positive movement, with a less than 0.2% global gain. As we reported earlier today, Bitcoin SV isnow available for withdrawal at Coinbase. In a related note, Waves Platform is makingBitcoin SV balances availableand will be adding a trading market as well. The question is whether the newly available Bitcoin SV poses a risk to the coin’s price. Bitcoin Cash believers at the time of the hard fork who held BCH in either place have been waiting some time for their Bitcoin SV. They’ve long since missed the peak of more than $200. The market at large has advanced into scarier and scarier bear territory. Read the full story onCCN.com. \|\| Will Valentines Day End in Heartbreak for Bitcoin Bulls?: bitcoin crypto valentine's day The cryptocurrency market held above $120 billion heading into Thursday evening, but could Bitcoin be setting up investors for a post-Valentines Day heartbreak? Bitcoin and the rest of the top 5 cryptocurrencies had a pretty boring 24-hour period. The notable moves happened at the opposite end of the market cap spectrum, with Steem gaining 3% and NEM, 2%. Of the top 10 non-stablecoins, only Bitcoin Cash saw any positive movement, with a less than 0.2% global gain. As we reported earlier today, Bitcoin SV is now available for withdrawal at Coinbase . In a related note, Waves Platform is making Bitcoin SV balances available and will be adding a trading market as well. The question is whether the newly available Bitcoin SV poses a risk to the coins price. Bitcoin Cash believers at the time of the hard fork who held BCH in either place have been waiting some time for their Bitcoin SV. Theyve long since missed the peak of more than $200. The market at large has advanced into scarier and scarier bear territory. Read the full story on CCN.com . \|\| Will Valentine’s Day End in Heartbreak for Bitcoin Bulls?: The cryptocurrency market held above $120 billion heading into Thursday evening, but could Bitcoin be setting up investors for a post-Valentine’s Day heartbreak? Bitcoin and the rest of the top 5 cryptocurrencies had a pretty boring 24-hour period. The notable moves happened at the opposite end of the market cap spectrum, with Steem gaining 3% and NEM, 2%. Of the top 10 non-stablecoins, only Bitcoin Cash saw any positive movement, with a less than 0.2% global gain. As we reported earlier today, Bitcoin SV isnow available for withdrawal at Coinbase. In a related note, Waves Platform is makingBitcoin SV balances availableand will be adding a trading market as well. The question is whether the newly available Bitcoin SV poses a risk to the coin’s price. Bitcoin Cash believers at the time of the hard fork who held BCH in either place have been waiting some time for their Bitcoin SV. They’ve long since missed the peak of more than $200. The market at large has advanced into scarier and scarier bear territory. Read the full story onCCN.com. \|\| Hacked MyFitnessPal Data Goes on Sale on the Dark WebOne Year After the Breach: The MyFitnessPal app disclosed a data breach last year affecting as many as 150 million users. Now, some of those stolen credentials are popping up for sale on the dark web. Not only is data from Under Armours MyFitnessPal, a diet and exercise community, being offered, but hackers also have their hands on credentials from 15 other websites. The asking price: Less than $20,000 in Bitcoin, according to a report from The Register . Erin Wendell, a spokesperson for MyFitnessPal, said users were required to change their passwords after the breach was reported last March, so any stolen credentials are no longer valid on the site. We responded swiftly to alert users and have since required all MyFitnessPal users who had not changed their passwords since that March 29, 2018 announcement, to reset their passwords. As a result, passwords previously used for MyFitnessPal at the time of the data security issue are no longer valid on MyFitnessPal, and we continue to encourage strong password practices including unique and complex passwords for all their accounts to enable users to further protect themselves, she said. While it doesnt sound like hackers will be able to check on what MyFitnessPal users ate for breakfast, the leaked credentials could be a problem for people who reuse passwords across multiple websites. The passwords appear to be hashed and encrypted, however a buyer could cross-reference breached email addresses with previous hacks to see if someone reused a password. Another website included in the Valentines Day fire sale, the dating app Coffee Meets Bagel, sent users an email on Thursday to notify them that they learned of a breach on February 11 , the same day The Register s report was published. A partial list of names and email addresses are believed to be the only information compromised. The email did not say how many users may have been exposed. The other websites mentioned in The Register s report are: Dubsmash, MyHeritage, ShareThis, HauteLook, Animoto, EyeEm, 8fit, Whitepages, Fotolog, 500px, Armor Games, BookMate, Artsy, and DataCamp. One way to quickly check to see if your credentials have been breached is to enter your email address at HaveIBeenPwned.com . While the site doesnt say where your data was leaked, it can tell you how many data dumps include your email address. Whether youve been pwned or not, security experts also recommend that you regularly change your passwords and use one unique password per site. \|\| Hacked MyFitnessPal Data Goes on Sale on the Dark Web—One Year After the Breach: The MyFitnessPal appdisclosed a data breach last yearaffecting as many as 150 million users. Now, some of those stolen credentials are popping up for sale on the dark web. Not only is data from Under Armour’s MyFitnessPal, a diet and exercise community, being offered, but hackers also have their hands on credentials from 15 other websites. The asking price: Less than $20,000 in Bitcoin, according to a report fromThe Register. Erin Wendell, a spokesperson for MyFitnessPal, said users were required to change their passwords after the breach was reported last March, so any stolen credentials are no longer valid on the site. “We responded swiftly to alert users and have since required all MyFitnessPal users who had not changed their passwords since that March 29, 2018 announcement, to reset their passwords. As a result, passwords previously used for MyFitnessPal at the time of the data security issue are no longer valid on MyFitnessPal, and we continue to encourage strong password practices including unique and complex passwords for all their accounts to enable users to further protect themselves,” she said. While it doesn’t sound like hackers will be able to check on what MyFitnessPal users ate for breakfast, the leaked credentials could be a problem for people who reuse passwords across multiple websites. The passwords appear to be hashed and encrypted, however a buyer could cross-reference breached email addresses with previous hacks to see if someone reused a password. Another website included in the Valentine’s Day fire sale, the dating app Coffee Meets Bagel,sent users an email on Thursday to notify them that they learned of a breach on February 11, the same dayThe Register‘s report was published. A partial list of names and email addresses are believed to be the only information compromised. The email did not say how many users may have been exposed. The other websites mentioned inThe Register’s report are: Dubsmash, MyHeritage, ShareThis, HauteLook, Animoto, EyeEm, 8fit, Whitepages, Fotolog, 500px, Armor Games, BookMate, Artsy, and DataCamp. One way to quickly check to see if your credentials have been breached is to enter your email address atHaveIBeenPwned.com. While the site doesn’t say where your data was leaked, it can tell you how many data dumps include your email address. Whether you’ve been “pwned” or not, security experts also recommend that you regularly change your passwords and use one unique password per site. \|\| Nvidia (NVDA) Hurdles Lower Bar, CBS Misses 1st Time in Years: Tech processing giant Nvidia NVDA posted a mixed Q4 after the closing bell Thursday, putting up 80 cents per share on $2.21 billion in revenues, beating on the bottom line by 5 cents per share but missing the $2.37 billion in the Zacks consensus. Shares have rocketed up 9% upon the release, as Q1 guidance was higher than analysts were expecting. You'll recall than Nvidia, like Apple AAPL more than a month ago, warned about quarterly earnings results, at which time shares plummeted and so did earnings estimates. As a result, Nvidia had tumbled to a Zacks Rank #5 (Strong Sell) ahead of the Q4 report. Now that shares have outperformed the lower bar, late traders are in a buying mood again. Gaming fetched $954 million in the quarter and Datacenter saw a tally of $679 million. The graphics processing units (GPU) the company makes had put the company in great demand back when Bitcoin threatened to take over the world, but as the cryptocurrency's fortunes fell, so did Nvidia's share price. At a forward P/E of 30+ times earnings, the company is still not exactly cheap. CBS Corp. CBS posted its first earnings miss in at least 5 full years, bringing in $1.50 per share that missed the Zacks consensus by 3 cents, on $4.02 billion in quarterly sales that fell short of the $4.16 billion analysts were looking for. Though the company trumpeted passing the 8 million mark in direct-to-consumer subscribers, 2 years ahead of schedule, shares are down more than 2% following the earnings release, which came out after accusations of insider selling of CBS shares immediately prior to long-time CEO Les Moonves stepping down due to sexual improprieties. For more on CBS' earnings, click here. Looking for Stocks with Skyrocketing Upside? Zacks has just released a Special Report on the booming investment opportunities of legal marijuana. Ignited by new referendums and legislation, this industry is expected to blast from an already robust $6.7 billion to $20.2 billion in 2021. Early investors stand to make a killing, but you have to be ready to act and know just where to look. See the pot trades we're targeting>> Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report CBS Corporation (CBS) : Free Stock Analysis Report Apple Inc. (AAPL) : Free Stock Analysis Report NVIDIA Corporation (NVDA) : Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research \|\| Nvidia (NVDA) Hurdles Lower Bar, CBS Misses 1st Time in Years: Tech processing giantNvidia NVDAposted a mixed Q4 after the closing bell Thursday, putting up 80 cents per share on $2.21 billion in revenues, beating on the bottom line by 5 cents per share but missing the $2.37 billion in the Zacks consensus. Shares have rocketed up 9% upon the release, as Q1 guidance was higher than analysts were expecting.You'll recall than Nvidia, likeApple AAPLmore than a month ago, warned about quarterly earnings results, at which time shares plummeted and so did earnings estimates. As a result, Nvidia had tumbled to a Zacks Rank #5 (Strong Sell) ahead of the Q4 report. Now that shares have outperformed the lower bar, late traders are in a buying mood again.Gaming fetched $954 million in the quarter and Datacenter saw a tally of $679 million. The graphics processing units (GPU) the company makes had put the company in great demand back when Bitcoin threatened to take over the world, but as the cryptocurrency's fortunes fell, so did Nvidia's share price. At a forward P/E of 30+ times earnings, the company is still not exactly cheap.CBS Corp. CBSposted its first earnings miss in at least 5 full years, bringing in $1.50 per share that missed the Zacks consensus by 3 cents, on $4.02 billion in quarterly sales that fell short of the $4.16 billion analysts were looking for. Though the company trumpeted passing the 8 million mark in direct-to-consumer subscribers, 2 years ahead of schedule, shares are down more than 2% following the earnings release, which came out after accusations of insider selling of CBS shares immediately prior to long-time CEO Les Moonves stepping down due to sexual improprieties. For more on CBS' earnings, click here. Looking for Stocks with Skyrocketing Upside? Zacks has just released a Special Report on the booming investment opportunities of legal marijuana. Ignited by new referendums and legislation, this industry is expected to blast from an already robust $6.7 billion to $20.2 billion in 2021. Early investors stand to make a killing, but you have to be ready to act and know just where to look. See the pot trades we're targeting>> Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days.Click to get this free reportCBS Corporation (CBS) : Free Stock Analysis ReportApple Inc. (AAPL) : Free Stock Analysis ReportNVIDIA Corporation (NVDA) : Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment Research \|\| Crypto Markets Trading Sideways With Slight Losses, April Gold Closes Slightly Down: Thursday, Feb. 14 — most major cryptocurrencies are trading sideways, with a few experiencing minor losses. The markets are seeing mixed signals as of press time, according to data from Coin360 . Market visualization from Coin360 The leading digital currency Bitcoin ( BTC ) is slightly down 0.19 percent on the day, trading at around $3,620 at press time. Over the past week, BTC has gained 6.38 percent, while its monthly losses were over 2 percent. Bitcoin 7-da7 price chart. Source: CoinMarketCap Ethereum ( ETH ) — which regained its position as the second largest coin by market capitalization on Feb. 11 — is down by 0.31 percent during the past 24 hours, and is trading at around $121.75 at press time. Ethereum’s market capitalization is currently around $12.7 billion, nearly $200 million ahead of Ripple’s ( XRP ). Ethereum 7-day price chart. Source: CoinMarketCap Ripple is up over the last 24 hours by 0.07 percent and is trading at $0.303 at press time. The altcoin’s weekly chart is showing its price increasing by 3.83 percent. After dipping to its weekly low of $0.291 on Feb. 8, XRP has seen moderate gain in price. Ripple 7-day price chart. Source: CoinMarketCap Yesterday, Ripple, the firm behind XRP, introduced a major network upgrade of its XRP Ledger version 1.2.0, which now reportedly includes a number of network amendments, including MultisignReserve Amendment, fixTakerDryOfferRemoval and fix1578. NEM is the major gainer over the day, having increased by 4 percent and trading around $0.042 at press time. Bitcoin Cash ( BCH ) is down by 0.25 percent over the last 24 hours and is currently trading at $122.25. Total market capitalization of all 2,072 coins on CoinMarketCap’s list is around $120 billion at press time, dipping as low as $119.8 during the day. The daily trading volume of all cryptocurrencies is around $19.6 billion. Total market capitalization monthly chart. Source: CoinMarketCap Story continues In commodities markets, gold futures ended lower as concerns about United States – China trade negotiations continued. April gold lost less than 0.1 percent to close at $1,313.90, which is down 0.4 percent on the week. Earlier today United States banking giant JPMorgan Chase (JPM) announced it is launching its own cryptocurrency dubbed “JPM Coin” geared to increase settlement efficiency, initially within three of the company’s operations. JPM Coin will initially focus on international settlements by major corporations, helping speed up transactions that currently take a day or longer using extant options such as SWIFT. As Cointelegraph reported earlier today, Barry Silbert, CEO and founder of Digital Currency Group and Grayscale Investments, said that the majority of digital tokens will not have value in the long run. In a purported phone interview with CNBC, Silbert said “I’m not a believer in the vast majority of digital tokens and I believe most will go to zero. Almost every [initial coin offering] ICO was just an attempt to raise money but there was no use for the underlying token." Related Articles: Crypto Markets Continue to See Mixed Signals, Dow Jones Up Over 360 Points EOS Sees Second Day of Growth as Crypto Markets, Stocks See Scant Price Action Major Currencies Gradually Roll Back After Short Recovery, Bitcoin Stays Over $3,600 Stock Market Sees Significant Growth, While Bitcoin Keeps Stability Over Past 7 Days \|\| Crypto Markets Trading Sideways With Slight Losses, April Gold Closes Slightly Down: Thursday, Feb. 14 — most major cryptocurrencies are trading sideways, with a few experiencing minor losses. The markets are seeing mixed signals as of press time, according to data fromCoin360. Market visualization fromCoin360 The leading digital currency Bitcoin (BTC) is slightly down 0.19 percent on the day, trading at around $3,620 at press time. Over the past week, BTC has gained 6.38 percent, while its monthly losses were over 2 percent. Bitcoin 7-da7 price chart. Source:CoinMarketCap Ethereum (ETH) — whichregainedits position as the second largest coin by market capitalization on Feb. 11 — is down by 0.31 percent during the past 24 hours, and is trading at around $121.75 at press time. Ethereum’s market capitalization is currently around $12.7 billion, nearly $200 million ahead of Ripple’s (XRP). Ethereum 7-day price chart. Source:CoinMarketCap Ripple is up over the last 24 hours by 0.07 percent and is trading at $0.303 at press time. Thealtcoin’sweekly chart is showing its price increasing by 3.83 percent. After dipping to its weekly low of $0.291 on Feb. 8, XRP has seen moderate gain in price. Ripple 7-day price chart. Source:CoinMarketCap Yesterday, Ripple, the firm behind XRP,introduceda major network upgrade of its XRP Ledger version 1.2.0, which now reportedly includes a number of network amendments, including MultisignReserve Amendment, fixTakerDryOfferRemoval and fix1578. NEMis the major gainer over the day, having increased by 4 percent and trading around $0.042 at press time. Bitcoin Cash (BCH) is down by 0.25 percent over the last 24 hours and is currently trading at $122.25. Total market capitalization of all 2,072 coins on CoinMarketCap’s list is around $120 billion at press time, dipping as low as $119.8 during the day. The daily trading volume of all cryptocurrencies is around $19.6 billion. Total market capitalization monthly chart. Source:CoinMarketCap In commodities markets, gold futures ended lower as concerns aboutUnited States–Chinatrade negotiations continued. April goldlostless than 0.1 percent to close at $1,313.90, which is down 0.4 percent on the week. Earlier today United States banking giant JPMorgan Chase (JPM)announcedit is launching its own cryptocurrency dubbed “JPM Coin” geared to increase settlement efficiency, initially within three of the company’s operations. JPM Coin will initially focus on international settlements by major corporations, helping speed up transactions that currently take a day or longer using extant options such as SWIFT. As Cointelegraphreportedearlier today, Barry Silbert, CEO and founder of Digital Currency Group and Grayscale Investments, said that the majority of digital tokens will not have value in the long run. In a purported phone interview with CNBC, Silbert said “I’m not a believer in the vast majority of digital tokens and I believe most will go to zero. Almost every [initial coin offering]ICOwas just an attempt to raise money but there was no use for the underlying token." • Crypto Markets Continue to See Mixed Signals, Dow Jones Up Over 360 Points • EOS Sees Second Day of Growth as Crypto Markets, Stocks See Scant Price Action • Major Currencies Gradually Roll Back After Short Recovery, Bitcoin Stays Over $3,600 • Stock Market Sees Significant Growth, While Bitcoin Keeps Stability Over Past 7 Days \|\| Here’s Why the Bitcoin Price Has Crypto Traders Railing at Bart Simpson: Bitcoin’s recent price movements have crypto traders everywhere railing at Bart Simpson for roiling the market. Below, we’ll explain why, but first, let’s take a look at the flagship cryptocurrency’s movements today. Bitcoin price action has not changed much since ourprevious analysis. The digital currency continues to trend inside a narrow channel. Whether or not this channel is a bull flag cannot be determined just yet. The only positive thing in the current trend is bitcoin’s ability to hold onto gains it made during February 8’s impressive bull run. As of Thursday afternoon, thebitcoin-to-dollar rate(BTC/USD) was trading at $3,576, down a modest 0.02 percent since the Asian session open. Both the volume and volatility are lower since the previous upside run. That somewhat hints that the bitcoin price is closing in towards its next big move. Nevertheless, the interim bias conflict has made it difficult to predict which direction bitcoin would pursue in the coming days: downward, sideways, or upward. Read the full story onCCN.com. \|\| Here’s Why the Bitcoin Price Has Crypto Traders Railing at Bart Simpson: bart simpson bitcoin price Bitcoin’s recent price movements have crypto traders everywhere railing at Bart Simpson for roiling the market. Below, we’ll explain why, but first, let’s take a look at the flagship cryptocurrency’s movements today. Bitcoin Price Trades Sideways Bitcoin price action has not changed much since our previous analysis . The digital currency continues to trend inside a narrow channel. Whether or not this channel is a bull flag cannot be determined just yet. The only positive thing in the current trend is bitcoin’s ability to hold onto gains it made during February 8’s impressive bull run. As of Thursday afternoon, the bitcoin-to-dollar rate (BTC/USD) was trading at $3,576, down a modest 0.02 percent since the Asian session open. Both the volume and volatility are lower since the previous upside run. That somewhat hints that the bitcoin price is closing in towards its next big move. Nevertheless, the interim bias conflict has made it difficult to predict which direction bitcoin would pursue in the coming days: downward, sideways, or upward. Bitcoin Divided Between Bart Simpson and Bull Flag Read the full story on CCN.com . \|\| Here’s Why the Bitcoin Price Has Crypto Traders Railing at Bart Simpson: Bitcoin’s recent price movements have crypto traders everywhere railing at Bart Simpson for roiling the market. Below, we’ll explain why, but first, let’s take a look at the flagship cryptocurrency’s movements today. Bitcoin price action has not changed much since ourprevious analysis. The digital currency continues to trend inside a narrow channel. Whether or not this channel is a bull flag cannot be determined just yet. The only positive thing in the current trend is bitcoin’s ability to hold onto gains it made during February 8’s impressive bull run. As of Thursday afternoon, thebitcoin-to-dollar rate(BTC/USD) was trading at $3,576, down a modest 0.02 percent since the Asian session open. Both the volume and volatility are lower since the previous upside run. That somewhat hints that the bitcoin price is closing in towards its next big move. Nevertheless, the interim bias conflict has made it difficult to predict which direction bitcoin would pursue in the coming days: downward, sideways, or upward. Read the full story onCCN.com. \|\| Coinbase Exchange Users Can Now Withdraw Bitcoin Cash Fork BSV: Coinbase, the largest US-based cryptocurrency exchange, is finally allowing users to withdraw bitcoin Satoshi vision (BSV) – the cryptocurrency created in a hard fork of the bitcoin cash blockchain on Nov. 15. On that day, bitcoin cash was scheduled to implement upgrades to its blockchain, as it is programmed to do every six months, but contention ultimately led developers and miners toadopt two different incompatible versions of the software: bitcoin cash ABC (BCH) and BSV, which now operate as separate cryptocurrencies with separate values. Coinbase users who held bitcoin cash in their accounts at the time of the fork were given BSV coins at a 1:1 ratio, and the exchange notified its users today, three months after the fork, that their BSV balances could now be accessed. Since Coinbase does not support BSV trading at this time, users will need to export their BSV balance to an external wallet if they wish to trade it for another cryptocurrency or for fiat. In the email, the exchange made note of the circumstances and provided instructions on how to do so: “Coinbase does not support purchases or sales of BSV, so you cannot sell your BSV for fiat currency on Coinbase. You may send your BSV balance to an external wallet following instructionshere.” On Nov. 20, Coinbase announced the competing bitcoin cash blockchain called bitcoin cash ABC would retain the BCH ticker and compatibility with Coinbase’s trading infrastructure. At the time of writing, BSV is trading across exchanges at an average price of $62.58 while its competitor BCH costs nearly twice the price at $120.23, according to pricing data fromCoinDesk. Disclosure:The author holds BTC, AST, REQ, OMG, FUEL, 1st and AMP at the time of writing. Coinbase phoneimage via Shutterstock \|\| Coinbase Exchange Users Can Now Withdraw Bitcoin Cash Fork BSV: Coinbase, the largest US-based cryptocurrency exchange, is finally allowing users to withdraw bitcoin Satoshi vision (BSV) – the cryptocurrency created in a hard fork of the bitcoin cash blockchain on Nov. 15. On that day, bitcoin cash was scheduled to implement upgrades to its blockchain, as it is programmed to do every six months, but contention ultimately led developers and miners toadopt two different incompatible versions of the software: bitcoin cash ABC (BCH) and BSV, which now operate as separate cryptocurrencies with separate values. Coinbase users who held bitcoin cash in their accounts at the time of the fork were given BSV coins at a 1:1 ratio, and the exchange notified its users today, three months after the fork, that their BSV balances could now be accessed. Since Coinbase does not support BSV trading at this time, users will need to export their BSV balance to an external wallet if they wish to trade it for another cryptocurrency or for fiat. In the email, the exchange made note of the circumstances and provided instructions on how to do so: “Coinbase does not support purchases or sales of BSV, so you cannot sell your BSV for fiat currency on Coinbase. You may send your BSV balance to an external wallet following instructionshere.” On Nov. 20, Coinbase announced the competing bitcoin cash blockchain called bitcoin cash ABC would retain the BCH ticker and compatibility with Coinbase’s trading infrastructure. At the time of writing, BSV is trading across exchanges at an average price of $62.58 while its competitor BCH costs nearly twice the price at $120.23, according to pricing data fromCoinDesk. Disclosure:The author holds BTC, AST, REQ, OMG, FUEL, 1st and AMP at the time of writing. Coinbase phoneimage via Shutterstock \|\| Coinbase Exchange Users Can Now Withdraw Bitcoin Cash Fork BSV: Coinbase, the largest US-based cryptocurrency exchange, is finally allowing users to withdraw bitcoin Satoshi vision ( BSV ) – the cryptocurrency created in a hard fork of the bitcoin cash blockchain on Nov. 15. On that day, bitcoin cash was scheduled to implement upgrades to its blockchain, as it is programmed to do every six months, but contention ultimately led developers and miners to adopt two different incompatible versions of the software : bitcoin cash ABC ( BCH ) and BSV, which now operate as separate cryptocurrencies with separate values. Coinbase users who held bitcoin cash in their accounts at the time of the fork were given BSV coins at a 1:1 ratio, and the exchange notified its users today, three months after the fork, that their BSV balances could now be accessed. Since Coinbase does not support BSV trading at this time, users will need to export their BSV balance to an external wallet if they wish to trade it for another cryptocurrency or for fiat. In the email, the exchange made note of the circumstances and provided instructions on how to do so: “Coinbase does not support purchases or sales of BSV, so you cannot sell your BSV for fiat currency on Coinbase. You may send your BSV balance to an external wallet following instructions here .” On Nov. 20, Coinbase announced the competing bitcoin cash blockchain called bitcoin cash ABC would retain the BCH ticker and compatibility with Coinbase’s trading infrastructure. At the time of writing, BSV is trading across exchanges at an average price of $62.58 while its competitor BCH costs nearly twice the price at $120.23, according to pricing data from CoinDesk . Disclosure: The author holds BTC, AST, REQ, OMG, FUEL, 1st and AMP at the time of writing. Coinbase phone image via Shutterstock \|\| JPMorgan to Use Digital Coin to Speed Up Corporate Payments: (Bloomberg) -- JPMorgan Chase & Co. is turning to crypto to modernize one of its most central businesses. The biggest U.S. bank said it developed a prototype digital coin that it plans to use to speed up payments between corporate customers, according to a statement Thursday. The token, dubbed JPM Coin, is based on blockchain technology, a decentralized public ledger of transactions that offers more speed because it doesn’t rely on a central record keeper. “Many of our clients move money in different ways and they’re looking for a more real-time way to move value around,” Umar Farooq, head of digital treasury services and blockchain, said in an interview. JPMorgan moves more than $5 trillion in wholesale payments each day, so even a nascent experiment from the banking giant is poised to make waves in the cryptocurrency world. While some experts questioned the broader impact of a dollar-pegged coin available only to JPMorgan clients, others said the bank’s involvement lends legitimacy to an area that’s been rocked by volatility and scandal. The bank started developing JPM Coin about a year ago in response to client demand and plans to start testing out possible uses with a small number of its institutional customers in the coming months, Farooq said. He declined to name the interested companies. Greater Efficiency SWIFT, the air-traffic control system for sending money around the world, has been working on a plan to make overseas transfers more efficient though a campaign known as the global payments innovation initiative. But banks still sometimes run into trouble clearing cross-border payments in real time, Farooq said. JPM Coin could eliminate that problem by allowing instantaneous value transfer, he said. Japanese lenders including Mitsubishi UFJ Financial Group started working on initiatives such as the MUFG Coin as early as 2016. New York-based Signature Bank rolled out a digital coin for real-time payments earlier this year, and scores of its institutional clients have started using it to send money to each other, according to Chief Executive Officer Joseph DePaolo. The bank, which had about $46 billion in assets as of Sept. 30, has seen daily volume in the tens of millions of dollars since the coin’s debut, he said. Compared with JPM Coin, “there’s no difference other than we’re up and running and we already have regulatory approval,” DePaolo said. “They’re trying to do the same thing we are.” Dollar Equivalency JPMorgan is the first of the major U.S. banks to publicly introduce its own coin. The coin has some differences from a traditional cryptocurrency, according to the presentation. Cryptocurrencies use public, open-access blockchain technology and their value is intrinsic to the coin. A JPM Coin always has a value equivalent to one U.S. dollar and uses JPMorgan’s private blockchain. Story continues “JPMorgan is taking a significant step here,’’ said Adam Grimsley, a former BlackRock Inc. fixed-income investor who co-founded London-based crypto hedge fund Prime Factor Capital. “The first bullet in any war is always the most important, and it looks like this could be the first move in a broader adoption of blockchain and digital currencies by large institutions.” Gregory Klumov, chief executive officer and founder of blockchain company Stasis in Malta, downplayed the scale of the project. ‘Bit Faster’ “They’re just taking an existing internal process and making it a little bit faster,” Klumov said. “It doesn’t have any of the long-term, disruptive potential of public blockchains.” JPMorgan previously developed the Interbank Information Network, which is based on the ethereum blockchain. IIN, which has about 157 banks in its network from all parts of the globe, is intended to address some of the challenges of interbank information-sharing and to help payments reach beneficiaries sooner. JPM Coin is aimed at transferring value rather than information, according to the bank. CNBC reported the launch of JPM Coin earlier Thursday. The most famous use of blockchain -- cryptocurrencies -- has been stumbling. Bitcoin is down more than 80 percent from its highs in December 2017, and, according to JPMorgan calculations, has recently been trading below the average cost it takes to mine. JPMorgan Chief Executive Officer Jamie Dimon famously called Bitcoin a “fraud” in 2017, though he’s repeatedly said he sees many ways the bank could use blockchain technology. The bank in January revamped its treasury-services business, combining teams from the consumer and corporate bank to create a group called wholesale payments that will deal in cash management, payment solutions and merchant services. It’s led by Takis Georgakopoulos. (Updates with Signature Bank’s foray into digital coins in eighth, ninth paragraphs.) To contact the reporters on this story: Michelle F. Davis in New York at [email protected];Alastair Marsh in London at [email protected] To contact the editors responsible for this story: Michael J. Moore at [email protected], Daniel Taub, Dan Reichl For more articles like this, please visit us at bloomberg.com ©2019 Bloomberg L.P. View comments \|\| JPMorgan to Use Digital Coin to Speed Up Corporate Payments: (Bloomberg) -- JPMorgan Chase & Co. is turning to crypto to modernize one of its most central businesses. The biggest U.S. bank said it developed a prototype digital coin that it plans to use to speed up payments between corporate customers, according to a statement Thursday. The token, dubbed JPM Coin, is based on blockchain technology, a decentralized public ledger of transactions that offers more speed because it doesn’t rely on a central record keeper. “Many of our clients move money in different ways and they’re looking for a more real-time way to move value around,” Umar Farooq, head of digital treasury services and blockchain, said in an interview. JPMorgan moves more than $5 trillion in wholesale payments each day, so even a nascent experiment from the banking giant is poised to make waves in the cryptocurrency world. While some experts questioned the broader impact of a dollar-pegged coin available only to JPMorgan clients, others said the bank’s involvement lends legitimacy to an area that’s been rocked by volatility and scandal. The bank started developing JPM Coin about a year ago in response to client demand and plans to start testing out possible uses with a small number of its institutional customers in the coming months, Farooq said. He declined to name the interested companies. Greater Efficiency SWIFT, the air-traffic control system for sending money around the world, has been working on a plan to make overseas transfers more efficient though a campaign known as the global payments innovation initiative. But banks still sometimes run into trouble clearing cross-border payments in real time, Farooq said. JPM Coin could eliminate that problem by allowing instantaneous value transfer, he said. Japanese lenders including Mitsubishi UFJ Financial Group started working on initiatives such as the MUFG Coin as early as 2016. New York-based Signature Bank rolled out a digital coin for real-time payments earlier this year, and scores of its institutional clients have started using it to send money to each other, according to Chief Executive Officer Joseph DePaolo. The bank, which had about $46 billion in assets as of Sept. 30, has seen daily volume in the tens of millions of dollars since the coin’s debut, he said. Compared with JPM Coin, “there’s no difference other than we’re up and running and we already have regulatory approval,” DePaolo said. “They’re trying to do the same thing we are.” Dollar Equivalency JPMorgan is the first of the major U.S. banks to publicly introduce its own coin. The coin has some differences from a traditional cryptocurrency, according to the presentation. Cryptocurrencies use public, open-access blockchain technology and their value is intrinsic to the coin. A JPM Coin always has a value equivalent to one U.S. dollar and uses JPMorgan’s private blockchain. “JPMorgan is taking a significant step here,’’ said Adam Grimsley, a former BlackRock Inc. fixed-income investor who co-founded London-based crypto hedge fund Prime Factor Capital. “The first bullet in any war is always the most important, and it looks like this could be the first move in a broader adoption of blockchain and digital currencies by large institutions.” Gregory Klumov, chief executive officer and founder of blockchain company Stasis in Malta, downplayed the scale of the project. ‘Bit Faster’ “They’re just taking an existing internal process and making it a little bit faster,” Klumov said. “It doesn’t have any of the long-term, disruptive potential of public blockchains.” JPMorgan previously developed the Interbank Information Network, which is based on the ethereum blockchain. IIN, which has about 157 banks in its network from all parts of the globe, is intended to address some of the challenges of interbank information-sharing and to help payments reach beneficiaries sooner. JPM Coin is aimed at transferring value rather than information, according to the bank. CNBC reported the launch of JPM Coin earlier Thursday. The most famous use of blockchain -- cryptocurrencies -- has been stumbling. Bitcoin is down more than 80 percent from its highs in December 2017, and, according to JPMorgan calculations, has recently been trading below the average cost it takes to mine. JPMorgan Chief Executive Officer Jamie Dimon famously called Bitcoin a “fraud” in 2017, though he’s repeatedly said he sees many ways the bank could use blockchain technology. The bank in January revamped its treasury-services business, combining teams from the consumer and corporate bank to create a group called wholesale payments that will deal in cash management, payment solutions and merchant services. It’s led by Takis Georgakopoulos. (Updates with Signature Bank’s foray into digital coins in eighth, ninth paragraphs.) To contact the reporters on this story: Michelle F. Davis in New York at [email protected];Alastair Marsh in London at [email protected] To contact the editors responsible for this story: Michael J. Moore at [email protected], Daniel Taub, Dan Reichl For more articles like this, please visit us atbloomberg.com ©2019 Bloomberg L.P. \|\| Bitcoin Price Analysis: After Sudden Upswing, Bitcoin Price Drifts Downward: Bitcoin Price Analysis Last week, we saw a violent move to the upside as bitcoin rallied 11% over the course of one day. Since peaking in the upper $3,600s, bitcoin has seen close to zero bullish follow-through, and the price has begun to drift downward over the course of the last week: Figure_1 (6).png Figure 1: BTC-USD, Hourly Candles, Downward Drift Downward-drifting markets like this can often be a sign that distribution is taking place. It represents an overall lack of bullish pressure. And, from the volume profile, we can see that selling pressure has remained constant throughout the week of downward drift: Figure_2 (10).png Figure 2: BTC-USD, Hourly Candles, Sustained Selling Pressure We can see in the figure above that every attempt by the bulls to push the price upward was quickly and easily countered by bearish pressure. The highs are getting lower, and the lows are getting lower, and we can see that every attempted rally is being sold into as supply continuously surfaces. Similar to the lower time frame trend we just discussed, the higher time frame trend is also exhibiting lower highs and lower lows. Additionally, the figure below outlines the key overhanging resistance levels we must break if we want to a sustained rally: Figure_3 (9).png Figure 3: BTC-USD, Daily Candles, Overhanging Resistance Levels Because crypto is so volatile, sometimes it helps to clear things up by looking at the closing price of the daily candles. Although wicks contain very important information, if we just focus on the closing price we can get a general idea of the macro health of the market. The figure above shows us rallying above our first key level, but it has begun to slowly drift below the level once again. Ideally, we would like to see this overhanging resistance turn into support. We are currently in the middle of testing the first level so it is unfair to say whether or not the test has failed or whether the resistance has turned into support. If we fail to hold support at this level, I fully expect to see a test of new lows, as this has been the trend over the last few weeks: Story continues Figure_4.png Figure 4: BTC-USD, 12-Hour Candles, Macro Supply and Demand Channel The entirety of 2019 has been outlined by a very well-defined supply-and-demand channel. At the moment, our overhanging resistance test coincides with a test of the macro channel. A failure to maintain this level and rally to a new high will most likely yield a test of the lower part of the channel and the next macro supply level in the the low $3,000s. Right now, bitcoin is just drifting slowly downward and somewhat sideways. Its entirely possible we rally to new highs from here, but for now the market structure is bearish as we have failed to break resistance, push new highs and break out of the supply-and-demand channel. Summary: After rallying 11% in one day, the bitcoin market has found itself lingering and drifting sideways as it fails to push new highs. A failure to hold this level will likely yield a test of the macro support level in the low $3,000s. If we manage to hold this level and break new highs, this will be a macro bullish signal as it breaks the immediate, bearish market structure we have found ourselves in for the last few weeks. Trading and investing in digital assets like bitcoin is highly speculative and comes with many risks. This analysis is for informational purposes and should not be considered investment advice. Statements and financial information on Bitcoin Magazine and BTC Inc related sites do not necessarily reflect the opinion of BTC Inc and should not be construed as an endorsement or recommendation to buy, sell or hold. Past performance is not necessarily indicative of future results. This article originally appeared on Bitcoin Magazine . \|\| Bitcoin Price Analysis: After Sudden Upswing, Bitcoin Price Drifts Downward: Last week, we saw a violent move to the upside as bitcoin rallied 11% over the course of one day. Since peaking in the upper $3,600s, bitcoin has seen close to zero bullish follow-through, and the price has begun to drift downward over the course of the last week: Figure 1: BTC-USD, Hourly Candles, Downward Drift Downward-drifting markets like this can often be a sign that distribution is taking place. It represents an overall lack of bullish pressure. And, from the volume profile, we can see that selling pressure has remained constant throughout the week of downward drift: Figure 2: BTC-USD, Hourly Candles, Sustained Selling Pressure We can see in the figure above that every attempt by the bulls to push the price upward was quickly and easily countered by bearish pressure. The highs are getting lower, and the lows are getting lower, and we can see that every attempted rally is being sold into as supply continuously surfaces. Similar to the lower time frame trend we just discussed, the higher time frame trend is also exhibiting lower highs and lower lows. Additionally, the figure below outlines the key overhanging resistance levels we must break if we want to a sustained rally: Figure 3: BTC-USD, Daily Candles, Overhanging Resistance Levels Because crypto is so volatile, sometimes it helps to clear things up by looking at the closing price of the daily candles. Although wicks contain very important information, if we just focus on the closing price we can get a general idea of the macro health of the market. The figure above shows us rallying above our first key level, but it has begun to slowly drift below the level once again. Ideally, we would like to see this overhanging resistance turn into support. We are currently in the middle of testing the first level so it is unfair to say whether or not the test has failed or whether the resistance has turned into support. If we fail to hold support at this level, I fully expect to see a test of new lows, as this has been the trend over the last few weeks: Figure 4: BTC-USD, 12-Hour Candles, Macro Supply and Demand Channel The entirety of 2019 has been outlined by a very well-defined supply-and-demand channel. At the moment, our overhanging resistance test coincides with a test of the macro channel. A failure to maintain this level and rally to a new high will most likely yield a test of the lower part of the channel and the next macro supply level in the the low $3,000s. Right now, bitcoin is just drifting slowly downward and somewhat sideways. It’s entirely possible we rally to new highs from here, but for now the market structure is bearish as we have failed to break resistance, push new highs and break out of the supply-and-demand channel. 1. After rallying 11% in one day, the bitcoin market has found itself lingering and drifting sideways as it fails to push new highs. 2. A failure to hold this level will likely yield a test of the macro support level in the low $3,000s. 3. If we manage to hold this level and break new highs, this will be a macro bullish signal as it breaks the immediate, bearish market structure we have found ourselves in for the last few weeks. Trading and investing in digital assets like bitcoin is highly speculative and comes with many risks. This analysis is for informational purposes and should not be considered investment advice. Statements and financial information on Bitcoin Magazine and BTC Inc related sites do not necessarily reflect the opinion of BTC Inc and should not be construed as an endorsement or recommendation to buy, sell or hold. Past performance is not necessarily indicative of future results. This article originally appeared onBitcoin Magazine. \|\| Bitcoin Price Analysis: After Sudden Upswing, Bitcoin Price Drifts Downward: Last week, we saw a violent move to the upside as bitcoin rallied 11% over the course of one day. Since peaking in the upper $3,600s, bitcoin has seen close to zero bullish follow-through, and the price has begun to drift downward over the course of the last week: Figure 1: BTC-USD, Hourly Candles, Downward Drift Downward-drifting markets like this can often be a sign that distribution is taking place. It represents an overall lack of bullish pressure. And, from the volume profile, we can see that selling pressure has remained constant throughout the week of downward drift: Figure 2: BTC-USD, Hourly Candles, Sustained Selling Pressure We can see in the figure above that every attempt by the bulls to push the price upward was quickly and easily countered by bearish pressure. The highs are getting lower, and the lows are getting lower, and we can see that every attempted rally is being sold into as supply continuously surfaces. Similar to the lower time frame trend we just discussed, the higher time frame trend is also exhibiting lower highs and lower lows. Additionally, the figure below outlines the key overhanging resistance levels we must break if we want to a sustained rally: Figure 3: BTC-USD, Daily Candles, Overhanging Resistance Levels Because crypto is so volatile, sometimes it helps to clear things up by looking at the closing price of the daily candles. Although wicks contain very important information, if we just focus on the closing price we can get a general idea of the macro health of the market. The figure above shows us rallying above our first key level, but it has begun to slowly drift below the level once again. Ideally, we would like to see this overhanging resistance turn into support. We are currently in the middle of testing the first level so it is unfair to say whether or not the test has failed or whether the resistance has turned into support. If we fail to hold support at this level, I fully expect to see a test of new lows, as this has been the trend over the last few weeks: Figure 4: BTC-USD, 12-Hour Candles, Macro Supply and Demand Channel The entirety of 2019 has been outlined by a very well-defined supply-and-demand channel. At the moment, our overhanging resistance test coincides with a test of the macro channel. A failure to maintain this level and rally to a new high will most likely yield a test of the lower part of the channel and the next macro supply level in the the low $3,000s. Right now, bitcoin is just drifting slowly downward and somewhat sideways. It’s entirely possible we rally to new highs from here, but for now the market structure is bearish as we have failed to break resistance, push new highs and break out of the supply-and-demand channel. 1. After rallying 11% in one day, the bitcoin market has found itself lingering and drifting sideways as it fails to push new highs. 2. A failure to hold this level will likely yield a test of the macro support level in the low $3,000s. 3. If we manage to hold this level and break new highs, this will be a macro bullish signal as it breaks the immediate, bearish market structure we have found ourselves in for the last few weeks. Trading and investing in digital assets like bitcoin is highly speculative and comes with many risks. This analysis is for informational purposes and should not be considered investment advice. Statements and financial information on Bitcoin Magazine and BTC Inc related sites do not necessarily reflect the opinion of BTC Inc and should not be construed as an endorsement or recommendation to buy, sell or hold. Past performance is not necessarily indicative of future results. This article originally appeared onBitcoin Magazine. [Social Media Buzz] #Doviz ------------------- #USD : 5.3170 #EUR : 5.9912 #GBP : 6.8124 -------------------------------------- #BTC ------------------- #Gobaba : 19064.82 #BtcTurk : 19032.00 #Koinim : 19000.00 #Paribu : 19010.01 #Koineks : 19049.99 \|\| #Doviz ------------------- #USD : 5.3170 #EUR : 5.9912 #GBP : 6.8124 -------------------------------------- #BTC ------------------- #Gobaba : 19092.70 #BtcTurk : 19029.00 #Koinim : 19160.00 #Paribu : 19072.00 #Koineks : 19098.90 \|\| Угадай курс BTC/USD на 21.02...	3629.79, 3673.84, 3915.71, 3947.09, 3999.82, 3954.12, 4005.53, 4142.53, 3810.43, 3882.70
Given the historical Bitcoin prices from the last 90 days, predict the next 10 daily closing prices. The historical prices are: 711.52, 703.13, 709.85, 723.27, 715.53, 716.41, 705.05, 702.03, 705.02, 711.62, 744.20, 740.98, 751.59, 751.62, 731.03, 739.25, 751.35, 744.59, 740.29, 741.65, 735.38, 732.03, 735.81, 735.60, 745.69, 756.77, 777.94, 771.16, 773.87, 758.70, 764.22, 768.13, 770.81, 772.79, 774.65, 769.73, 780.09, 780.56, 781.48, 778.09, 784.91, 790.83, 790.53, 792.71, 800.88, 834.28, 864.54, 921.98, 898.82, 896.18, 907.61, 933.20, 975.92, 973.50, 961.24, 963.74, 998.33, 1021.75, 1043.84, 1154.73, 1013.38, 902.20, 908.59, 911.20, 902.83, 907.68, 777.76, 804.83, 823.98, 818.41, 821.80, 831.53, 907.94, 886.62, 899.07, 895.03, 921.79, 924.67, 921.01, 892.69, 901.54, 917.59, 919.75, 921.59, 919.50, 920.38, 970.40, 989.02, 1011.80, 1029.91.	[Bitcoin Technical Analysis for 2017-02-03] Volume: 201278000, RSI (14-day): 69.88, 50-day EMA: 895.92, 200-day EMA: 746.73 [Wider Market Context] Gold Price: 1218.50, Gold RSI: 62.73 Oil Price: 53.83, Oil RSI: 57.03 [Recent News (last 7 days)] Fast Money traders discuss Under Armour and Apple earnings: The"Fast Money"traders decided how to trade on earnings for Under Armour(NYSE: UAA)and Apple(NASDAQ: AAPL), which reported results. Apple(NASDAQ: AAPL)stock rose 3 percent after the companybeat Wall Street expectations on both the top and bottom line, while shares of Under Armour tumbled 23 percent following anearnings report Monday, that missed analyst projections. Trader Brian Kelly said he believes in Under Armour's CEO Kevin Plank. Kelly said Plank is in the "Hall of Fame" of company leaders but the athleisure trend may be over and the company needs time to reassess the situation and reposition itself for the trend's decline. Trader Tim Seymour said the sportswear company needs to spread its focus into other parts of the business and pointed out that five executives have left in the last few months so Plank's leadership is questionable. For Apple, Trader Guy Adami said he is not surprised about the company's move higher after earnings. He said the stock could be recognized by the White House with the president possibly saying that it's a great American company performing well and bringing jobs back. Trader Brian Kelly said this would be a buying opportunity because the stock would continue to move higher. Apple shares are up nearly 5 percent in the last month. Disclosures: GUY ADAMI Guy Adami is long CELG, EXAS, GDX, INTC. Adami's wife, Linda Snow, works at Merck. BRIAN KELLY Brian Kelly is long FCX, Bitcoin, TB. DAN NATHAN Dan Nathan is long MCD Feb put. XLI long Feb put spread, FXI long Feb put spread. TIM SEYMOUR Tim Seymour is long ABX, APC, AVP, BAC, BBRY, C, CLF, CVX, DO, DVYE, EDC, EWN, EWZ, F, FB, FCX,FXI, GM, GOOGL, GE, INTC, LQD, MOS, MCD, MUR, OIH, PG, RACE, RAI, RH, RL, SINA,SQ,T, TWTR, VALE, VZ, XOM. short: EEM, SPY, XRT; Tim's firm is long ABX, BABA, BIDU, CBD, CLF, EEM, EWZ, F, KO, MCD, MPEL, NKE,PEP, PF, TCEHY, SAVE, SBUX, SINA, VALE, VIAB, WMT, WEN, X, YHOO, short EWG, HYG, IWM. \|\| Fast Money traders discuss Under Armour and Apple earnings: The "Fast Money" traders decided how to trade on earnings for Under Armour (NYSE: UAA) and Apple (NASDAQ: AAPL) , which reported results. Apple (NASDAQ: AAPL) stock rose 3 percent after the company beat Wall Street expectations on both the top and bottom line , while shares of Under Armour tumbled 23 percent following an earnings report Monday, that missed analyst projections . Trader Brian Kelly said he believes in Under Armour's CEO Kevin Plank. Kelly said Plank is in the "Hall of Fame" of company leaders but the athleisure trend may be over and the company needs time to reassess the situation and reposition itself for the trend's decline. Trader Tim Seymour said the sportswear company needs to spread its focus into other parts of the business and pointed out that five executives have left in the last few months so Plank's leadership is questionable. For Apple, Trader Guy Adami said he is not surprised about the company's move higher after earnings. He said the stock could be recognized by the White House with the president possibly saying that it's a great American company performing well and bringing jobs back. Trader Brian Kelly said this would be a buying opportunity because the stock would continue to move higher. Apple shares are up nearly 5 percent in the last month. Disclosures: GUY ADAMI Guy Adami is long CELG, EXAS, GDX, INTC. Adami's wife, Linda Snow, works at Merck. BRIAN KELLY Brian Kelly is long FCX, Bitcoin, TB. DAN NATHAN Dan Nathan is long MCD Feb put. XLI long Feb put spread, FXI long Feb put spread. TIM SEYMOUR Tim Seymour is long ABX, APC, AVP, BAC, BBRY, C, CLF, CVX, DO, DVYE, EDC, EWN, EWZ, F, FB, FCX,FXI, GM, GOOGL, GE, INTC, LQD, MOS, MCD, MUR, OIH, PG, RACE, RAI, RH, RL, SINA,SQ,T, TWTR, VALE, VZ, XOM. short: EEM, SPY, XRT; Tim's firm is long ABX, BABA, BIDU, CBD, CLF, EEM, EWZ, F, KO, MCD, MPEL, NKE,PEP, PF, TCEHY, SAVE, SBUX, SINA, VALE, VIAB, WMT, WEN, X, YHOO, short EWG, HYG, IWM. \|\| Malware study shows people still falling for old tricks, but there’s hope: Too many of us still fall for the old “click this attachment” email trick, and get our computers infected with malware or viruses. The result: our data is increasingly being taken hostage by ransomware creators. Santa Clara, Calif.-basedMalwarebytes’new“State of Malware Report 2017”brings that and more bad news about security to light. But a chat with one of the people behind the study offered a few reasons to be optimistic, as well. Specifically, that a lot of today’s software, if properly updated, can help protect itself. Ransomware, or apps that encrypt your data and then demand you pay a ransom (usually in Bitcoin) for a decryption key, have become a big business. In fact, the malware has afflicted everything fromhospital computer systemsto the occasional“smart” TVto themore than 100 surveillance cameras in Washington hacked days before President Trump’s inauguration. Malwarebytes’reportwhich is largely based on data from the company’s Windows and Android anti-malware apps, helps provide some context as to how bad the ransomware problem has become. According to the report, in January 2016, ransomware constituted 18% of all malware delivered by email or through exploits of existing software. By November 2016, it had climbed to 66%, which the report labels “an unprecedented domination of the threat landscape.” The U.S. is the top target, while Russia, the home of many ransomware developers, is one of the least popular targets. In a phone interview, Malwarebytes director of malware intelligence Adam Kujawa noted the pickiness exhibited by the two major families of ransomware, Cerber and Locky: “Both avoid any systems that appear to be coming from Russia or the surrounding countries.” But that’s not the depressing part of this report if you’ve been following the virus business for a while. That comes when you learn that Malwarebytes still sees a lot of malware getting on computers via in email attachments, many of which are Microsoft(MSFT)Office attachments withembedded macros whose code will attack your computer. Those techniques date back to the days of dial-up internet, when Office was much more lenient about running macros in random documents anddefending against them was harder. And yet here they are again. As Kujawa put it: “Where are we, 2005?” Today’s malware spam often comes personalized for particular users and tries to fool them into thinking that clicking a button in a Word document or Excel spreadsheet will unlock it for viewing, when in reality it will start a download of malicious code that can then take over their computers. (You can read a detailed breakdown of one such attack inthis December post from Sophos researcher Paul Ducklin.) The Malwarebytes report also calls out a few other growing hazards online. One “ad fraud” malware, which can generate a decent amount of income for cybercriminals, proved nearly as popular as ransomware. Ad fraud malware commanders a victim’s computer to visit sites and click on ads placed by the authors of the malware attack or their business partners. The report further nods to the rise in “botnet” software taking over computers — including“Internet of Things” devices like connected security cameras— and using them as part of distributed denial of service (DDoS) attacks. Unlike ransomware, however, the U.S. isn’t seeing the worst of this form of malware. According to Malwarebytes, 61.2% of all botnets are found in Asia, while about 15% are found in Europe. Interestingly, the U.S. was the leading venue for Android malware, with 12.74% of all detections happening here. But if you stick to Google’s (GOOG) Play Store for downloading apps — the default in the U.S. — your odds of being the victim of an attack are exceedingly low. Kujawa noted that Google does a good job of quickly yanking the occasional malware app that sneaks into its app market. He further added that Apple’s (AAPL) iOS, which can’t connect to alternative app sources, is even safer. While Malwarebytes’ report leaves it to the reader to figure out how to avoid being a victim of malware, Kujawa pointed out that many of these attacks can be thwarted by using current software. “A lot of these exploit kits, the vulnerabilities they target, they’ve been patched for a long time,” he said. For example, he noted one common way criminals attack people’s computers is through an Adobe (ADBE) Flash flaw from 2012 — but his advice for thatfast-fading media plug-inremains to “disable it entirely.” (FollowAdobe’s instructions to uninstall Flash.) The operating system you run matters, too. Youmay feel comfortable with Windows 7, but Kujawa called Windows 10 “a more secure operating system at the base level,” andother security researchers have come to the same conclusion. The Mac remains relatively more secure, even after incidents likelast year’s brief ransomware outbreak. Said Kujawa: “Every year, we say… this is the year when Mac malware is going to be huge, and it has yet to come to fruition.” But more secure software doesn’t mean that malware authors will give up and get real jobs. They’ll just switch their attention to attacking our brains instead of our apps, trying various forms of social engineering to get us to pause our skepticism and click the wrong link just this one time, because it’s really important. More from Rob: • Comcast now lets you watch cable on your Roku • Study finds most people are scarred of being hacked, but don’t do much about it • Why you can’t stream this year’s Oscar nominees on Netflix • President Trump’s tech policy is a mystery • How carriers will keep D.C. online during the inauguration • What you should really know about every major hacking story • Outgoing FCC chair: Don’t go backward on net neutrality • Selfie drones and more fly into CES 2017 • Faraday Future’s FF91: Electric speed at a vaporous price EmailRobat [email protected]; follow him on Twitter at@robpegoraro. \|\| Malware study shows people still falling for old tricks, but there’s hope: We’re still getting suckered by malware. Too many of us still fall for the old “click this attachment” email trick, and get our computers infected with malware or viruses. The result: our data is increasingly being taken hostage by ransomware creators. Santa Clara, Calif.-based Malwarebytes’ new “State of Malware Report 2017” brings that and more bad news about security to light. But a chat with one of the people behind the study offered a few reasons to be optimistic, as well. Specifically, that a lot of today’s software, if properly updated, can help protect itself. Ransomware rising Ransomware, or apps that encrypt your data and then demand you pay a ransom (usually in Bitcoin) for a decryption key, have become a big business. In fact, the malware has afflicted everything from hospital computer systems to the occasional “smart” TV to the more than 100 surveillance cameras in Washington hacked days before President Trump’s inauguration. Malwarebytes’ r eport which is largely based on data from the company’s Windows and Android anti-malware apps, helps provide some context as to how bad the ransomware problem has become. According to the report, in January 2016, ransomware constituted 18% of all malware delivered by email or through exploits of existing software. By November 2016, it had climbed to 66%, which the report labels “an unprecedented domination of the threat landscape.” The U.S. is the top target, while Russia, the home of many ransomware developers, is one of the least popular targets. Ransomware will hold your computer hostage unless you pay up. In a phone interview, Malwarebytes director of malware intelligence Adam Kujawa noted the pickiness exhibited by the two major families of ransomware, Cerber and Locky: “Both avoid any systems that appear to be coming from Russia or the surrounding countries.” Old cons come back But that’s not the depressing part of this report if you’ve been following the virus business for a while. That comes when you learn that Malwarebytes still sees a lot of malware getting on computers via in email attachments, many of which are Microsoft (MSFT) Office attachments with embedded macros whose code will attack your computer . Those techniques date back to the days of dial-up internet, when Office was much more lenient about running macros in random documents and defending against them was harder . And yet here they are again. As Kujawa put it: “Where are we, 2005?” Today’s malware spam often comes personalized for particular users and tries to fool them into thinking that clicking a button in a Word document or Excel spreadsheet will unlock it for viewing, when in reality it will start a download of malicious code that can then take over their computers. Story continues (You can read a detailed breakdown of one such attack in this December post from Sophos researcher Paul Ducklin .) Other opponents The Malwarebytes report also calls out a few other growing hazards online. One “ad fraud” malware, which can generate a decent amount of income for cybercriminals, proved nearly as popular as ransomware. Ad fraud malware commanders a victim’s computer to visit sites and click on ads placed by the authors of the malware attack or their business partners. The report further nods to the rise in “botnet” software taking over computers — including “Internet of Things” devices like connected security cameras — and using them as part of distributed denial of service (DDoS) attacks. Unlike ransomware, however, the U.S. isn’t seeing the worst of this form of malware. According to Malwarebytes, 61.2% of all botnets are found in Asia, while about 15% are found in Europe. Even your connected refrigerator can be turned against you. Interestingly, the U.S. was the leading venue for Android malware, with 12.74% of all detections happening here. But if you stick to Google’s ( GOOG ) Play Store for downloading apps — the default in the U.S. — your odds of being the victim of an attack are exceedingly low. Kujawa noted that Google does a good job of quickly yanking the occasional malware app that sneaks into its app market. He further added that Apple’s ( AAPL ) iOS, which can’t connect to alternative app sources, is even safer. Not all software is created equal While Malwarebytes’ report leaves it to the reader to figure out how to avoid being a victim of malware, Kujawa pointed out that many of these attacks can be thwarted by using current software. “A lot of these exploit kits, the vulnerabilities they target, they’ve been patched for a long time,” he said. For example, he noted one common way criminals attack people’s computers is through an Adobe ( ADBE ) Flash flaw from 2012 — but his advice for that fast-fading media plug-in remains to “disable it entirely.” (Follow Adobe’s instructions to uninstall Flash .) The operating system you run matters, too. You may feel comfortable with Windows 7 , but Kujawa called Windows 10 “a more secure operating system at the base level,” and other security researchers have come to the same conclusion . The Mac remains relatively more secure, even after incidents like last year’s brief ransomware outbreak . Said Kujawa: “Every year, we say… this is the year when Mac malware is going to be huge, and it has yet to come to fruition.” But more secure software doesn’t mean that malware authors will give up and get real jobs. They’ll just switch their attention to attacking our brains instead of our apps, trying various forms of social engineering to get us to pause our skepticism and click the wrong link just this one time, because it’s really important. More from Rob: Comcast now lets you watch cable on your Roku Study finds most people are scarred of being hacked, but don’t do much about it Why you can’t stream this year’s Oscar nominees on Netflix President Trump’s tech policy is a mystery How carriers will keep D.C. online during the inauguration What you should really know about every major hacking story Outgoing FCC chair: Don’t go backward on net neutrality Selfie drones and more fly into CES 2017 Faraday Future’s FF91: Electric speed at a vaporous price Email Rob at [email protected]; follow him on Twitter at @robpegoraro . View comments \|\| The biggest bitcoin news site bought the best bitcoin data app: It was one year ago that Digital Currency Group, the leading investment firm in digital currency startups, bought CoinDesk , the leading trade publication that covers digital currency news. Now CoinDesk is making its own acquisition, its first ever: CoinDesk has bought Lawnmower, for an undisclosed price. Lawnmower first launched in 2015 as a roundup app (a popular format these days for finance-related apps ) for buying bitcoin. You would connect the app to a credit card, and it would round up the spare change on your transactions and use it to buy bitcoin. The purchases were made through a plug-in to Coinbase, the No. 1 US bitcoin wallet . Last summer, Lawnmower shifted its buying model, ditching the roundup structure and instead allowing users to buy bitcoin any time they wish, and to have the app make a monthly purchase of a pre-set amount. We viewed the spare change roundups as more of a limitation, said cofounder and CFO Alex Sunnarborg at the time. If you want a serious investment platform, spare change is going to be inherently low-volume. But the real value of Lawnmower was its data. As the app evolved, its bitcoin price chart got better and better for users: visually clean, easy to adjust, updating in real time. (In my opinion, as a reporter who has covered bitcoin and blockchain since 2011, Lawnmower is the best mobile app for price data, while CoinDesk has the best desktop price charts.) Along the way, Lawnmower added price charts and data for additional digital currencies Ethereum, Ripple, and Litecoin. It also created its own Lawnmower Blockchain Index, a fund with different digital currencies, weighted by market cap. Tracking the performance of Lawnmowers index provided a useful gauge of how these assets were performing overall. Lawnmowers data (on each coins price fluctuation, market cap, total supply, and trading volume) is why CoinDesk came calling. CoinDesk will roll Lawnmowers data into its own desktop site and mobile app, and into its paid research reports, a business it is looking to expand. Pretty much everything CoinDesk is doing is right in our skill set, says Sunnarborg. (Lawnmower had even added news headlines to its app, so a sale to a news outlet makes some sense.) Lawnmower cofounders Pieter Gorsira and Patrick Archambeau will lead CoinDesks engineering team, while Sunnarborg will join CoinDesks research team as an analyst. Story continues Lawnmower mobile app While we were excited about Lawnmowers buy/sell functionality and the traction they had made, we were much more intrigued by the data and market research elements, says Ryan Selkis, who moved over from DCG to run CoinDesks business after DCG acquired it last year. DCG, led by Barry Silbert (who founded SecondMarket in 2004 and sold it to Nasdaq in 2015), has invested in 80 digital currency startups. Lawnmowers app will shut down soon, and CoinDesk will take the data elements, but not the bitcoin-buying functionalityspecifically to avoid any ethical conflicts. Since we did ultimately see a conflict with owning an app that facilitated the purchase of digital currencies, buy/sell functionality will not be included in the new CoinDesk app, says Selkis. Indeed, it would raise ethical red flags if a web site objectively covering bitcoin companies also offered users the ability to buy bitcoin. CoinDesk being owned by a bitcoin startup investment firm also might raise similar alarms, but at the time of purchase, DCG vowed to assemble strict walls between the CoinDesk editorial team and the CoinDesk business side. At the CoinDesk office, there is a literal wall between the editorial team and the business team. I think the divide with the new research department will be about figuring out where the research product makes sense, says Sunnarborg, and what the wall is between a long editorial feature piece, versus a paid research piece. Its exciting stuff but definitely theres a divide we will navigate. Selkis says that while the CoinDesk editorial team will remain strictly separate from the business side, There may be some overlap with the product and research teams, none of which we view as detrimental to our [editorial] team given the removal of buy/sell functionality. Customers with bitcoin balances in Lawnmower will not need to transfer funds over, since all Lawnmower accounts exist through Coinbase accounts. The bitcoin industry has seen a fair amount of consolidation in the past two years, especially among bitcoin exchange sites and particularly among non-US companies. To name a few: last year Kraken, which is US-based but does most of its trading volume in euros, bought New York-based exchange Coinsetter , after Coinsetter had previously bought Canadian exchange Cavirtex . Kraken also bought Dutch exchange CleverCoin . In 2015, Mexican exchange Bitso bought Mexican exchange Unisend . Lawnmower had raised $200,000 in funding from firms including Draper Associates and Boost VC; it wont share how many users it had amassed, but Sunnarborg says that once it shifted its bitcoin-buying model to automatic trading in a set amount, 80% of users chose the automatic trades. What that says to me is this market moves so fast, a lot of people want a passive strategy so that they can just sit back and they dont have to pay such close attention to the ups and downs each week. Its a responsible strategy. In addition, once Lawnmower added price data for additional coins like Ripple and Litecoin, users took to them frequently. That has a lesson for bitcoin media like CoinDesk: I think everyone is realizing they cant just cover bitcoin and blockchain, they also need to cover Ethereum, Ripple, and so on. Its proof that this is an interesting asset class. Daniel Roberts is a writer at Yahoo Finance, covering technology and sports business. Follow him on Twitter at @readDanwrite . Read more: Bitcoin is becoming the new gold Expect more blockchain hype in 2017 Heres where big banks stand on blockchain Why 21.co is the most exciting bitcoin company right now Coinbase is more bullish on bitcoin than ever \|\| The biggest bitcoin news site bought the best bitcoin data app: It was one year ago thatDigital Currency Group, the leading investment firm in digital currency startups, bought CoinDesk, the leading trade publication that covers digital currency news. Now CoinDesk is making its own acquisition, its first ever: CoinDesk has bought Lawnmower, for an undisclosed price. Lawnmower first launched in 2015 as a roundup app (apopular format these days for finance-related apps) for buying bitcoin. You would connect the app to a credit card, and it would round up the spare change on your transactions and use it to buy bitcoin. The purchases were made through a plug-in toCoinbase, the No. 1 US bitcoin wallet. Last summer, Lawnmower shifted its buying model, ditching the roundup structure and instead allowing users to buy bitcoin any time they wish, and to have the app make a monthly purchase of a pre-set amount. “We viewed the spare change roundups as more of a limitation,” said cofounder and CFO Alex Sunnarborg at the time. “If you want a serious investment platform, spare change is going to be inherently low-volume.” But the real value of Lawnmower was its data. As the app evolved, its bitcoin price chart got better and better for users: visually clean, easy to adjust, updating in real time. (In my opinion, as a reporter who has covered bitcoin and blockchain since 2011, Lawnmower is the best mobile app for price data, while CoinDesk has the best desktop price charts.) Along the way, Lawnmower added price charts and data for additional digital currencies Ethereum, Ripple, and Litecoin. It also created its own Lawnmower Blockchain Index, a fund with different digital currencies, weighted by market cap. Tracking the performance of Lawnmower’s index provided a useful gauge of how these assets were performing overall. Lawnmower’s data (on each coin’s price fluctuation, market cap, total supply, and trading volume) is why CoinDesk came calling. CoinDesk will roll Lawnmower’s data into its own desktop site and mobile app, and into its paid research reports, a business it is looking to expand. “Pretty much everything CoinDesk is doing is right in our skill set,” says Sunnarborg. (Lawnmower had even added news headlines to its app, so a sale to a news outlet makes some sense.)Lawnmower cofounders Pieter Gorsira and Patrick Archambeau will lead CoinDesk’s engineering team, while Sunnarborg will join CoinDesk’s research team as an analyst. “While we were excited about Lawnmower’s buy/sell functionality and the traction they had made, we were much more intrigued by the data and market research elements,” says Ryan Selkis, who moved over from DCG to run CoinDesk’s business after DCG acquired it last year. DCG, led byBarry Silbert (who founded SecondMarket in 2004 and sold it to Nasdaq in 2015), has invested in 80 digital currency startups. Lawnmower’s app will shut down soon, and CoinDesk will take the data elements, butnotthe bitcoin-buying functionality—specifically to avoid any ethical conflicts. “Since we did ultimately see a conflict with owning an app that facilitated the purchase of digital currencies, buy/sell functionality will not be included in the new CoinDesk app,” says Selkis. Indeed, it would raise ethical red flags if a web site objectively covering bitcoin companies also offered users the ability to buy bitcoin. CoinDesk being owned by a bitcoin startup investment firm also might raise similar alarms, but at the time of purchase, DCG vowed to assemble strict walls between the CoinDesk editorial team and the CoinDesk business side. At the CoinDesk office, there is aliteral wall between the editorial team and the business team. “I think the divide with the new research department will be about figuring out where the research product makes sense,” says Sunnarborg, “and what the wall is between a long editorial feature piece, versus a paid research piece. It’s exciting stuff but definitely there’s a divide we will navigate.” Selkis says that while the CoinDesk editorial team will remain strictly separate from the business side, “There may be some overlap with the product and research teams, none of which we view as detrimental to our [editorial] team given the removal of buy/sell functionality.” Customers with bitcoin balances in Lawnmower will not need to transfer funds over, since all Lawnmower accounts exist through Coinbase accounts. The bitcoin industry has seen a fair amount of consolidation in the past two years, especially among bitcoin exchange sites and particularly among non-US companies. To name a few: last year Kraken, which is US-based but does most of its trading volume in euros,bought New York-based exchange Coinsetter, afterCoinsetter had previously bought Canadian exchange Cavirtex. Kraken alsobought Dutch exchange CleverCoin. In 2015, Mexican exchangeBitso bought Mexican exchange Unisend. Lawnmower had raised $200,000 in funding from firms including Draper Associates and Boost VC; it won’t share how many users it had amassed, but Sunnarborg says that once it shifted its bitcoin-buying model to automatic trading in a set amount,80% of users chose the automatic trades. “What that says to me is this market moves so fast, a lot of people want a passive strategy so that they can just sit back and they don’t have to pay such close attention to the ups and downs each week. It’s a responsible strategy.” In addition, once Lawnmower added price data for additional coins like Ripple and Litecoin, users took to them frequently. That has a lesson for bitcoin media like CoinDesk: “I think everyone is realizing they can’t just cover bitcoin and blockchain, they also need to cover Ethereum, Ripple, and so on. It’s proof that this is an interesting asset class.” — Daniel Roberts is a writer at Yahoo Finance, covering technology and sports business. Follow him on Twitter at@readDanwrite. Read more: Bitcoin is becoming the new gold Expect more blockchain hype in 2017 Here’s where big banks stand on blockchain Why 21.co is the most exciting bitcoin company right now Coinbase is more bullish on bitcoin than ever \|\| Why hyperinflation is coming: By Yves Lamoureux, president and chief behavioral strategist of macroeconomic research firm Lamoureux & Co. The stage is being set for a central bank-fueled hyperinflation to take place in several years. Our position has remained the since calling the next turn of hyperinflation in 2012. Here is our epic piece on Zero Hedge . And while we are at it, we fully matched it with our bond call , which is the first pre-requisite. Yes, we are currently in deflation. I could not agree more, but this time it is different, as assets will fork at a juncture and move beyond the expected behavior—the results of a failed monetary transmission mechanism. Recall the London whale. What have we learned from it? That unless you bought the whole market, the remaining 5% not owned could derail prices—a situation where the tail wags the dog. The point is that unless central banks buy 100% of the government debts, they will still lose control of the fight. What fight? The mismatch of debts to savings globally. Gold must first go through a few related hoops and revert to a positive correlation with the US dollar. Meanwhile, cryptocurrencies may be one of the newest benefactors of the hyperinflationary wave. Bitcoin had a great run since we started our analysis at $300 (not unlike our analysis of gold, which coincidentally began when it was at $300). And we expect this march to last well beyond the next two decades—finally ending in a massive bond crash and the subsequent flare-up of gold (as physical gold is default-free). S&P 500 PE Ratio Source: Robert Shiller Once the current correction passes, outflows of bonds will precipitate a sharp move up in stocks over the coming decade. And in a hyperinflationary environment, central banks will also be buying stocks. This will cause the supply of stocks to drop and P/E ratios to remain in a new elevated range of 25 to 50. Prior articles: Why the crisis of 2019 begins now How to prepare for the next major selloff in stocks: trader Story continues By Yves Lamoureux, January 16, 2017 ©Copyright, Lamoureux & Co. This communication is for information purposes only and should not be regarded as an offer to sell or as a solicitation of an offer to buy any financial product or service.This publication is proprietary and is intended for the use of the subscriber only. All information provided is impersonal and not tailored to the needs of any person, entity or group or persons. Lamoureux & Co. shall not be liable for any claims. \|\| Why hyperinflation is coming: By Yves Lamoureux, president and chief behavioral strategist of macroeconomic research firm Lamoureux & Co. The stage is being set for a central bank-fueled hyperinflation to take place in several years. Our position has remained the since calling the next turn of hyperinflation in 2012. Here is our epic piece on Zero Hedge . And while we are at it, we fully matched it with our bond call , which is the first pre-requisite. Yes, we are currently in deflation. I could not agree more, but this time it is different, as assets will fork at a juncture and move beyond the expected behavior—the results of a failed monetary transmission mechanism. Recall the London whale. What have we learned from it? That unless you bought the whole market, the remaining 5% not owned could derail prices—a situation where the tail wags the dog. The point is that unless central banks buy 100% of the government debts, they will still lose control of the fight. What fight? The mismatch of debts to savings globally. Gold must first go through a few related hoops and revert to a positive correlation with the US dollar. Meanwhile, cryptocurrencies may be one of the newest benefactors of the hyperinflationary wave. Bitcoin had a great run since we started our analysis at $300 (not unlike our analysis of gold, which coincidentally began when it was at $300). And we expect this march to last well beyond the next two decades—finally ending in a massive bond crash and the subsequent flare-up of gold (as physical gold is default-free). S&P 500 PE Ratio Source: Robert Shiller Once the current correction passes, outflows of bonds will precipitate a sharp move up in stocks over the coming decade. And in a hyperinflationary environment, central banks will also be buying stocks. This will cause the supply of stocks to drop and P/E ratios to remain in a new elevated range of 25 to 50. Prior articles: Why the crisis of 2019 begins now How to prepare for the next major selloff in stocks: trader Story continues By Yves Lamoureux, January 16, 2017 ©Copyright, Lamoureux & Co. This communication is for information purposes only and should not be regarded as an offer to sell or as a solicitation of an offer to buy any financial product or service.This publication is proprietary and is intended for the use of the subscriber only. All information provided is impersonal and not tailored to the needs of any person, entity or group or persons. Lamoureux & Co. shall not be liable for any claims. \|\| Flow Brings More International News, via Sky News: MIAMI, FL--(Marketwired - Jan 30, 2017) - Flow customers will now have even more access to international news with the addition of the Sky News HD network to Flow TV's channel line-up. Sky News was the first 24/7 breaking news network in Britain, and is one of the most respected news outlets in the world. Flow, Cable and Wireless' Consumer brand, recently acquired the first and only rights in the Caribbean to broadcast the award-winning UK-based news channel. The news channel brings a rich, unprecedented international perspective to Flow customers and, like Flow, is driven by a spirit of innovation -- delivering fresh and compelling international news stories from the Caribbean and Latin America to Africa, Asia and beyond. "The addition of Sky News to our extensive suite of news and other programming reaffirms to our subscribers that they are getting great value, unparalleled content and staying connected to the rest of the world in real time," said Garfield Sinclair, newly appointed President, Flow Caribbean. Sinclair added, "Sky News provides accurate and reliable, up-to-the-minute information about the most significant international events, no matter where it's happening, and the channel can also be accessed anytime, anywhere via our FlowToGo platform." John Ryley , Head of Sky News, commented: "This is a terrific opportunity to bring our award winning news service and outstanding original journalism directly to a new Caribbean audience via Flow TV for the first time. We are currently available in over 100 million homes in 127 countries around the world and under this agreement with Flow we will extend Sky News officially to the Caribbean market." Ann Petley-Jones, CEO of Riverhead Investments Ltd., the exclusive distributor of Sky News in the Caribbean basin and Canada, had this to say: "We are proud to be bringing Sky News to Flow and the Caribbean as it is one of the great news companies globally, as evidenced by the large number of industry awards it has received. The fact that CWC/Flow has added Sky News to its impressive lineup is a big win for Caribbean viewers. Sky News is renowned for the quality and impartiality of its news service and Riverhead is delighted to be partnered with such a group." Story continues Flow customers will get two months of free access to the channel after which they have the option to include in their cable package. About C&W Communications C&W is a full service communications and entertainment provider and delivers market-leading video, broadband, telephony and mobile services to consumers in 18 countries. Through its business division, C&W provides data center hosting, domestic and international managed network services, and customized IT service solutions, utilizing cloud technology to serve business and government customers. C&W also operates a state-of-the-art submarine fiber network -- the most extensive in the region. Learn more at www.cwc.com , or follow C&W on LinkedIn , Facebook or Twitter . About Liberty Global Liberty Global is the world's largest international TV and broadband company, with operations in more than 30 countries across Europe, Latin America and the Caribbean. We invest in the infrastructure that empowers our customers to make the most of the digital revolution. Our scale and commitment to innovation enables us to develop market-leading products delivered through next-generation networks that connect our 29 million customers who subscribe to over 60 million television, broadband internet and telephony services. We also serve 10 million mobile subscribers and offer WiFi service across seven million access points. Liberty Global's businesses are comprised of two stocks: the Liberty Global Group NASDAQ: LBTYA) ( NASDAQ : LBTYB ) ( NASDAQ : LBTYK ) for our European operations, and the LiLAC Group ( NASDAQ : LILA ) and ( NASDAQ : LILAK ) ( OTC PINK : LILAB ), which consists of our operations in Latin America and the Caribbean. The Liberty Global Group operates in 12 European countries under the consumer brands Virgin Media, Ziggo, Unitymedia, Telenet and UPC. The LiLAC Group operates in over 20 countries in Latin America and the Caribbean under the consumer brands VTR, Flow, Liberty, Mas Movil and BTC. In addition, the LiLAC Group operates a subsea fiber network throughout the region in over 30 markets. For more information, please visit www.libertyglobal.com . Image Available: http://www2.marketwire.com/mw/frame_mw?attachid=3103449 \|\| Flow Brings More International News, via Sky News: MIAMI, FL--(Marketwired - Jan 30, 2017) -Flowcustomers will now have even more access to international news with the addition of theSky News HD networkto Flow TV's channel line-up. Sky Newswas the first24/7 breaking newsnetwork in Britain, and is one of the most respected news outlets in the world. Flow,Cable and Wireless'Consumer brand, recently acquired thefirst and only rightsin the Caribbean to broadcast theaward-winningUK-based news channel. The news channel brings a rich, unprecedentedinternational perspectiveto Flow customers and, like Flow, is driven by a spirit of innovation -- delivering fresh and compelling international news stories from the Caribbean and Latin America to Africa, Asia and beyond. "The addition of Sky News to our extensive suite of news and other programming reaffirms to our subscribers that they are getting great value, unparalleled content and staying connected to the rest of the world in real time," said Garfield Sinclair, newly appointed President, Flow Caribbean. Sinclair added, "Sky News provides accurate and reliable, up-to-the-minute information about the most significant international events, no matter where it's happening, and the channel can also be accessed anytime, anywhere via our FlowToGo platform." John Ryley, Head of Sky News, commented: "This is a terrific opportunity to bring our award winning news service and outstanding original journalism directly to a new Caribbean audience via Flow TV for the first time. We are currently available in over 100 million homes in 127 countries around the world and under this agreement with Flow we will extend Sky News officially to the Caribbean market." Ann Petley-Jones, CEO of Riverhead Investments Ltd., the exclusive distributor of Sky News in the Caribbean basin and Canada, had this to say: "We are proud to be bringing Sky News to Flow and the Caribbean as it is one of the great news companies globally, as evidenced by the large number of industry awards it has received. The fact that CWC/Flow has added Sky News to its impressive lineup is a big win for Caribbean viewers. Sky News is renowned for the quality and impartiality of its news service and Riverhead is delighted to be partnered with such a group." Flow customers will gettwo months of free accessto the channel after which they have the option to include in their cable package. About C&W CommunicationsC&W is a full service communications and entertainment provider and delivers market-leading video, broadband, telephony and mobile services to consumers in 18 countries. Through its business division, C&W provides data center hosting, domestic and international managed network services, and customized IT service solutions, utilizing cloud technology to serve business and government customers. C&W also operates a state-of-the-art submarine fiber network -- the most extensive in the region. Learn more atwww.cwc.com, or follow C&W onLinkedIn,FacebookorTwitter. About Liberty Global Liberty Global is the world's largest international TV and broadband company, with operations in more than 30 countries across Europe, Latin America and the Caribbean. We invest in the infrastructure that empowers our customers to make the most of the digital revolution. Our scale and commitment to innovation enables us to develop market-leading products delivered through next-generation networks that connect our 29 million customers who subscribe to over 60 million television, broadband internet and telephony services. We also serve 10 million mobile subscribers and offer WiFi service across seven million access points. Liberty Global's businesses are comprised of two stocks: the Liberty Global Group NASDAQ: LBTYA) (NASDAQ:LBTYB) (NASDAQ:LBTYK) for our European operations, and the LiLAC Group (NASDAQ:LILA) and (NASDAQ:LILAK) (OTC PINK:LILAB), which consists of our operations in Latin America and the Caribbean. The Liberty Global Group operates in 12 European countries under the consumer brands Virgin Media, Ziggo, Unitymedia, Telenet and UPC. The LiLAC Group operates in over 20 countries in Latin America and the Caribbean under the consumer brands VTR, Flow, Liberty, Mas Movil and BTC. In addition, the LiLAC Group operates a subsea fiber network throughout the region in over 30 markets. For more information, please visitwww.libertyglobal.com. Image Available:http://www2.marketwire.com/mw/frame_mw?attachid=3103449 \|\| Hackers Hijack Hotel’s Smart Locks, Demand Ransom: A resort hotel in Austria has been the target of a series of hacks, including one that crippled the electronic "smart locks" on guest rooms. The attack prevented guests from accessing their rooms and prevented the issuance of new key cards, highlighting the potential fragility of systems in the so-called "internet of things." Lacking other options, the four-star Seehotel J?gerwirt paid the hackers a modest ransom in Bitcoin to reactivate their systems. In a followup statement toBleeping Computer, the hotel's Managing Director Christoph Brandst?tter emphasized that no guests were locked into their rooms, because international fire codes mandate that electronic hotel locks must open from the inside even in the event of system failure. Get Data Sheet,Fortune'stechnology newsletter. According to theAustrian Broadcasting Corporation(ORF), the key system compromise occurred at the beginning of the current ski season, while the hotel was fully booked. A smaller attack, the fourth that has hit the hotel, occurred earlier this month. During the larger attack, which also compromised the hotel's reservation systems, the hijackers demanded a ransom of 1,500 Euros in Bitcoin before re-activating the compromised systems. Another prior attack, over the summer, was also resolved with the payment of a ransom of "several thousand Euros." Police were not able to uncover clues as to the culprits in the hacks. Brandst?tter told ORF that he was aware of other hotels being the target of similar attacks. Add electronic locks, then, to a target-rich environment that includes the poorly securedwebcams and DVRsthat powered widespread denial of service attacks in October, and, at least in theory, hackableconnected cars. The lakeside hotel has already spent a reported 10,000 Euros on digital security to try and stop hackers. But it also plans to take an unconventional step back in time. According to Brandst?tter, the hotel's next remodeling will include a return to room locks with standard mechanical keys. See original article on Fortune.com More from Fortune.com • Forecasting Yahoo's Foggy Fate • Facebook, Uber, Slack, and Pandora Pros Praise Free Security Tools • The Best Way for Companies to Prepare for Inevitable Data Breaches: Rehearse • Exclusive: ForeScout Preps for Possible IPO Adding McKesson Finance Chief to Board • John McAfee's Cybersecurity Investment Firm Received a Subpoena from the SEC \|\| Hackers Hijack Hotels Smart Locks, Demand Ransom: A resort hotel in Austria has been the target of a series of hacks, including one that crippled the electronic "smart locks" on guest rooms. The attack prevented guests from accessing their rooms and prevented the issuance of new key cards, highlighting the potential fragility of systems in the so-called "internet of things." Lacking other options, the four-star Seehotel J?gerwirt paid the hackers a modest ransom in Bitcoin to reactivate their systems. In a followup statement to Bleeping Computer , the hotel's Managing Director Christoph Brandst?tter emphasized that no guests were locked into their rooms, because international fire codes mandate that electronic hotel locks must open from the inside even in the event of system failure. Get Data Sheet , Fortune 's technology newsletter. According to the Austrian Broadcasting Corporation (ORF), the key system compromise occurred at the beginning of the current ski season, while the hotel was fully booked. A smaller attack, the fourth that has hit the hotel, occurred earlier this month. During the larger attack, which also compromised the hotel's reservation systems, the hijackers demanded a ransom of 1,500 Euros in Bitcoin before re-activating the compromised systems. Another prior attack, over the summer, was also resolved with the payment of a ransom of "several thousand Euros." Police were not able to uncover clues as to the culprits in the hacks. Brandst?tter told ORF that he was aware of other hotels being the target of similar attacks. Add electronic locks, then, to a target-rich environment that includes the poorly secured webcams and DVRs that powered widespread denial of service attacks in October, and, at least in theory, hackable connected cars . The lakeside hotel has already spent a reported 10,000 Euros on digital security to try and stop hackers. But it also plans to take an unconventional step back in time. According to Brandst?tter, the hotel's next remodeling will include a return to room locks with standard mechanical keys. Story continues See original article on Fortune.com More from Fortune.com Forecasting Yahoo's Foggy Fate Facebook, Uber, Slack, and Pandora Pros Praise Free Security Tools The Best Way for Companies to Prepare for Inevitable Data Breaches: Rehearse Exclusive: ForeScout Preps for Possible IPO Adding McKesson Finance Chief to Board John McAfee's Cybersecurity Investment Firm Received a Subpoena from the SEC \|\| Hackers Hold Entire Hotel for Ransom, Trap Guests in Rooms: A luxury hotel in Austria recently had to pay hackers a ransom after they managed to access its electronic key system and lock all the hotel guests in their rooms. The cyber lock-in happened on the first day of the winter season at the Romantik Seehotel Jaegerwirt , a 111-year-old, four-star luxury hotel that has a pool, lake views, and a state-of-the-art electronic key system that turned out to be something hackers could exploit, according to The Local . When the hackers accessed the hotels IT system and shut everything down, approximately 180 people were staying at the hotel on that day. Many were locked in their rooms, while others were locked out of theirs. The hackers demanded 1,500, about $1,600, paid via Bitcoin. The hotel decided to pay. "We had no other choice, said managing director Christoph Brandstaetter. Neither police nor insurance help you in this case. After the hackers were paid, the system went back online. Brandstaetter said the hotel planned to downgrade back to old-fashioned keys. \|\| Hackers Hold Entire Hotel for Ransom, Trap Guests in Rooms: A luxury hotel in Austria recently had to pay hackers a ransom after they managed to access its electronic key system and lock all the hotel guests in their rooms. The cyber lock-in happened on the first day of the winter season at the Romantik Seehotel Jaegerwirt , a 111-year-old, four-star luxury hotel that has a pool, lake views, and a state-of-the-art electronic key system that turned out to be something hackers could exploit, according to The Local . When the hackers accessed the hotels IT system and shut everything down, approximately 180 people were staying at the hotel on that day. Many were locked in their rooms, while others were locked out of theirs. The hackers demanded 1,500, about $1,600, paid via Bitcoin. The hotel decided to pay. "We had no other choice, said managing director Christoph Brandstaetter. Neither police nor insurance help you in this case. After the hackers were paid, the system went back online. Brandstaetter said the hotel planned to downgrade back to old-fashioned keys. \|\| Fashion Forward: Flow customers in for a treat as Monday Night TV heats up with Caribbean's Next Top Model Season 3 on Flow1: PORT OF SPAIN, TRINIDAD--(Marketwired - Jan 27, 2017) - Flow customers will have front row seats as Caribbean's Next Top Model (CaribeNTM) Season 3 heats up Monday night television with its double-length series premiere on January 30 th at 9 pm -- exclusively on Flow1, formerly known as Flow TV. Over the past few months, aspiring young models from 15 countries across the region auditioned to become the next Caribbean girl who has what it takes to reach the top of the global fashion industry. Seventeen contestants will brace for battle in the new season, which is shot against the enchanting backdrop of the Spice Isle of the Caribbean, Grenada -- home to Season 2 winner, the 6ft tall Kittisha Doyle. Doyle is currently in New York City where she is carded to walk in this year's New York fashion week. Wendy Fitzwilliam , Trinidadian attorney at law, philanthropist, fashion model and former Miss Universe, will return as Host and Chief Judge of Season 3, which promises to be packed with even more drama and entertainment than ever before . "Modelling is a tough business," says Fitzwilliam, "and we promise Flow customers an exciting Season that will showcase the hard-work and determination that is required to make it to the top. We encourage viewers to tune in to Flow1 every week and support their favourite girls by following and voting on social media as well." Flow's Senior Director, Consumer Communications, Wendy McDonald said, "An added feature for CaribeNTM Season 3 is the ability for our customers to enjoy a more interactive experience, as they can follow the live action no matter where they are via our Flow-to-Go app, as well as catch up on reruns of Seasons 1 and 2 via Flow's video on demand services (VoD)." McDonald also proudly spoke about the company's commitment to create the best viewing experience and bring relevant and relatable content to Caribbean viewers. Flow has made significant investments to bring programmes such as Caribbean's Next Top Model, Caribbean Tales Incubator Programme for Caribbean filmmakers, and the airing of premier regional sports content like the Flow CARIFTA Games , which will be broadcast live from Curacao in 2017. Story continues Caribbean's Next Top Model will air exclusively on Monday nights at 9pm Caribbean and Eastern Time, with a repeat on Thursdays at 9pm on Flow1. EDITORS NOTE: About C&W Communications C&W is a full service communications and entertainment provider and delivers market-leading video, broadband, telephony and mobile services to consumers in 18 countries. Through its business division, C&W provides data center hosting, domestic and international managed network services, and customized IT service solutions, utilizing cloud technology to serve business and government customers. C&W also operates a state-of-the-art submarine fiber network -- the most extensive in the region. Learn more at www.cwc.com , or follow C&W on LinkedIn , Facebook or Twitter . About Liberty Global Liberty Global is the world's largest international TV and broadband company, with operations in more than 30 countries across Europe, Latin America and the Caribbean. We invest in the infrastructure that empowers our customers to make the most of the digital revolution. Our scale and commitment to innovation enables us to develop market-leading products delivered through next-generation networks that connect our 29 million customers who subscribe to over 60 million television, broadband internet and telephony services. We also serve 10 million mobile subscribers and offer WiFi service across seven million access points. Liberty Global's businesses are comprised of two stocks: the Liberty Global Group ( NASDAQ : LBTYA ) ( NASDAQ : LBTYB ) and ( NASDAQ : LBTYK ) for our European operations, and the LiLAC Group ( NASDAQ : LILA ) and ( NASDAQ : LILAK ) ( OTC PINK : LILAB ), which consists of our operations in Latin America and the Caribbean. The Liberty Global Group operates in 12 European countries under the consumer brands Virgin Media, Ziggo, Unitymedia, Telenet and UPC. The LiLAC Group operates in over 20 countries in Latin America and the Caribbean under the consumer brands VTR, Flow, Liberty, Mas Movil and BTC. In addition, the LiLAC Group operates a subsea fiber network throughout the region in over 30 markets. For more information, please visit www.libertyglobal.com . Image Available: http://www2.marketwire.com/mw/frame_mw?attachid=3103371 \|\| Fashion Forward: Flow customers in for a treat as Monday Night TV heats up with Caribbean's Next Top Model Season 3 on Flow1: PORT OF SPAIN, TRINIDAD--(Marketwired - Jan 27, 2017) -Flowcustomers will have front row seats asCaribbean's Next Top Model(CaribeNTM) Season 3 heats up Monday night television with its double-length series premiere on January 30that 9 pm -- exclusively on Flow1, formerly known as Flow TV. Over the past few months, aspiring young models from 15 countries across the region auditioned to become the next Caribbean girl who has what it takes to reach the top of the global fashion industry. Seventeen contestants will brace for battle in the new season, which is shot against the enchanting backdrop of the Spice Isle of the Caribbean, Grenada -- home to Season 2 winner, the 6ft tall Kittisha Doyle. Doyle is currently in New York City where she is carded to walk in this year's New York fashion week. Wendy Fitzwilliam, Trinidadian attorney at law, philanthropist, fashion model and former Miss Universe, will return as Host and Chief Judge of Season 3, which promises to bepacked with even more drama and entertainment than ever before. "Modelling is a tough business," says Fitzwilliam, "and we promise Flow customers an exciting Season that will showcase the hard-work and determination that is required to make it to the top. We encourage viewers to tune in to Flow1 every week and support their favourite girls by following and voting on social media as well." Flow's Senior Director, Consumer Communications, Wendy McDonald said, "An added feature for CaribeNTM Season 3 is the ability for our customers to enjoy a more interactive experience, as they can follow the live action no matter where they are via our Flow-to-Go app, as well as catch up on reruns of Seasons 1 and 2 via Flow's video on demand services (VoD)." McDonald also proudly spoke about the company's commitment to create the best viewing experience and bring relevant and relatable content to Caribbean viewers. Flow has made significant investments to bring programmes such as Caribbean's Next Top Model,Caribbean Tales Incubator Programmefor Caribbean filmmakers, and the airing of premier regional sports content like theFlow CARIFTA Games, which will be broadcast live from Curacao in 2017. Caribbean's Next Top Model will air exclusively on Monday nights at 9pm Caribbean and Eastern Time, with a repeat on Thursdays at 9pm on Flow1. EDITORS NOTE: About C&W Communications C&W is a full service communications and entertainment provider and delivers market-leading video, broadband, telephony and mobile services to consumers in 18 countries. Through its business division, C&W provides data center hosting, domestic and international managed network services, and customized IT service solutions, utilizing cloud technology to serve business and government customers. C&W also operates a state-of-the-art submarine fiber network -- the most extensive in the region. Learn more atwww.cwc.com, or follow C&W onLinkedIn,FacebookorTwitter. About Liberty Global Liberty Global is the world's largest international TV and broadband company, with operations in more than 30 countries across Europe, Latin America and the Caribbean. We invest in the infrastructure that empowers our customers to make the most of the digital revolution. Our scale and commitment to innovation enables us to develop market-leading products delivered through next-generation networks that connect our 29 million customers who subscribe to over 60 million television, broadband internet and telephony services. We also serve 10 million mobile subscribers and offer WiFi service across seven million access points. Liberty Global's businesses are comprised of two stocks: the Liberty Global Group (NASDAQ:LBTYA) (NASDAQ:LBTYB) and (NASDAQ:LBTYK) for our European operations, and the LiLAC Group (NASDAQ:LILA) and (NASDAQ:LILAK) (OTC PINK:LILAB), which consists of our operations in Latin America and the Caribbean. The Liberty Global Group operates in 12 European countries under the consumer brands Virgin Media, Ziggo, Unitymedia, Telenet and UPC. The LiLAC Group operates in over 20 countries in Latin America and the Caribbean under the consumer brands VTR, Flow, Liberty, Mas Movil and BTC. In addition, the LiLAC Group operates a subsea fiber network throughout the region in over 30 markets. For more information, please visitwww.libertyglobal.com. Image Available:http://www2.marketwire.com/mw/frame_mw?attachid=3103371 \|\| Bitcoin firm gets approval to operate in Switzerland: By Brenna Hughes Neghaiwi ZURICH (Reuters) - Bitcoin wallet provider Xapo said it has received conditional approval from Switzerland's financial market watchdog to operate in the country in a regulatory breakthrough for companies that provide safekeeping for the virtual currency. "After almost two years of substantial effort and investment, Xapo has received conditional approval from the Swiss Financial Market Supervisory Authority (FINMA) to operate in Switzerland," Xapo CEO Wences Casares said in a blog on the company's website. The approval depended on several factors, including membership of a "self-regulatory organization", Casares said, but added that the company was optimistic of meeting the conditions and being able to serve non-U.S. customers from Switzerland. FINMA declined to comment on an individual company's status. Olga Feldmeier, a former managing partner of Xapo who coordinated the Swiss licensing process for the company, told Reuters that Xapo had been designated a financial intermediary, meaning it will not require a costly banking license. Wallet providers like Xapo, which was founded in Silicon Valley, store the private keys that allow clients to access their digital currency funds. While other crypto-currency firms already operate in Switzerland, Xapo's operation as a bitcoin wallet provider had raised questions over whether it required a banking license. A burgeoning industry surrounding bitcoin - a web-based "crypto-currency" that has no central authority, relying instead on a global network of computers that validate transactions and add new bitcoins to the system - has posed questions for lawmakers and regulators. Xapo argued it did not accept deposits. Swiss authorities are eager to secure a leading role for Switzerland while playing catch-up in a rapidly changing financial technology (fintech) landscape. Bitcoin Suisse operates a network of bitcoin ATMs across the country, as well as an online and in-person brokerage for buying and selling bitcoins. But it does not itself store the private access keys that led to questions about whether Xapo was taking deposits. Story continues Switzerland's cabinet in November proposed new light-touch regulations for fintech companies aimed at bolstering business and competitiveness. The proposals include a fintech license, granted by FINMA, for institutions which are restricted to taking deposits of up to 100 million Swiss francs ($99.9 million) and do not lend. Xapo is now in the process of joining a self-regulatory organization required under Swiss anti-money laundering regulations to begin operations, Feldmeier said. (Editing by Adrian Croft) \|\| Bitcoin firm gets approval to operate in Switzerland: By Brenna Hughes Neghaiwi ZURICH (Reuters) - Bitcoin wallet provider Xapo said it has received conditional approval from Switzerland's financial market watchdog to operate in the country in a regulatory breakthrough for companies that provide safekeeping for the virtual currency. "After almost two years of substantial effort and investment, Xapo has received conditional approval from the Swiss Financial Market Supervisory Authority (FINMA) to operate in Switzerland," Xapo CEO Wences Casares said in a blog on the company's website. The approval depended on several factors, including membership of a "self-regulatory organization", Casares said, but added that the company was optimistic of meeting the conditions and being able to serve non-U.S. customers from Switzerland. FINMA declined to comment on an individual company's status. Olga Feldmeier, a former managing partner of Xapo who coordinated the Swiss licensing process for the company, told Reuters that Xapo had been designated a financial intermediary, meaning it will not require a costly banking license. Wallet providers like Xapo, which was founded in Silicon Valley, store the private keys that allow clients to access their digital currency funds. While other crypto-currency firms already operate in Switzerland, Xapo's operation as a bitcoin wallet provider had raised questions over whether it required a banking license. A burgeoning industry surrounding bitcoin - a web-based "crypto-currency" that has no central authority, relying instead on a global network of computers that validate transactions and add new bitcoins to the system - has posed questions for lawmakers and regulators. Xapo argued it did not accept deposits. Swiss authorities are eager to secure a leading role for Switzerland while playing catch-up in a rapidly changing financial technology (fintech) landscape. Bitcoin Suisse operates a network of bitcoin ATMs across the country, as well as an online and in-person brokerage for buying and selling bitcoins. But it does not itself store the private access keys that led to questions about whether Xapo was taking deposits. Story continues Switzerland's cabinet in November proposed new light-touch regulations for fintech companies aimed at bolstering business and competitiveness. The proposals include a fintech license, granted by FINMA, for institutions which are restricted to taking deposits of up to 100 million Swiss francs ($99.9 million) and do not lend. Xapo is now in the process of joining a self-regulatory organization required under Swiss anti-money laundering regulations to begin operations, Feldmeier said. (Editing by Adrian Croft) \|\| Bitcoin firm gets approval to operate in Switzerland: By Brenna Hughes Neghaiwi ZURICH (Reuters) - Bitcoin wallet provider Xapo said it has received conditional approval from Switzerland's financial market watchdog to operate in the country in a regulatory breakthrough for companies that provide safekeeping for the virtual currency. "After almost two years of substantial effort and investment, Xapo has received conditional approval from the Swiss Financial Market Supervisory Authority (FINMA) to operate in Switzerland," Xapo CEO Wences Casares said in a blog on the company's website. The approval depended on several factors, including membership of a "self-regulatory organization", Casares said, but added that the company was optimistic of meeting the conditions and being able to serve non-U.S. customers from Switzerland. FINMA declined to comment on an individual company's status. Olga Feldmeier, a former managing partner of Xapo who coordinated the Swiss licensing process for the company, told Reuters that Xapo had been designated a financial intermediary, meaning it will not require a costly banking license. Wallet providers like Xapo, which was founded in Silicon Valley, store the private keys that allow clients to access their digital currency funds. While other crypto-currency firms already operate in Switzerland, Xapo's operation as a bitcoin wallet provider had raised questions over whether it required a banking license. A burgeoning industry surrounding bitcoin - a web-based "crypto-currency" that has no central authority, relying instead on a global network of computers that validate transactions and add new bitcoins to the system - has posed questions for lawmakers and regulators. Xapo argued it did not accept deposits. Swiss authorities are eager to secure a leading role for Switzerland while playing catch-up in a rapidly changing financial technology (fintech) landscape. Bitcoin Suisse operates a network of bitcoin ATMs across the country, as well as an online and in-person brokerage for buying and selling bitcoins. But it does not itself store the private access keys that led to questions about whether Xapo was taking deposits. Switzerland's cabinet in November proposed new light-touch regulations for fintech companies aimed at bolstering business and competitiveness. The proposals include a fintech license, granted by FINMA, for institutions which are restricted to taking deposits of up to 100 million Swiss francs ($99.9 million) and do not lend. Xapo is now in the process of joining a self-regulatory organization required under Swiss anti-money laundering regulations to begin operations, Feldmeier said. (Editing by Adrian Croft) \|\| Bitcoin firm gets approval to operate in Switzerland: By Brenna Hughes Neghaiwi ZURICH (Reuters) - Bitcoin wallet provider Xapo said it has received conditional approval from Switzerland's financial market watchdog to operate in the country in a regulatory breakthrough for companies that provide safekeeping for the virtual currency. "After almost two years of substantial effort and investment, Xapo has received conditional approval from the Swiss Financial Market Supervisory Authority (FINMA) to operate in Switzerland," Xapo CEO Wences Casares said in a blog on the company's website. The approval depended on several factors, including membership of a "self-regulatory organization", Casares said, but added that the company was optimistic of meeting the conditions and being able to serve non-U.S. customers from Switzerland. FINMA declined to comment on an individual company's status. Olga Feldmeier, a former managing partner of Xapo who coordinated the Swiss licensing process for the company, told Reuters that Xapo had been designated a financial intermediary, meaning it will not require a costly banking license. Wallet providers like Xapo, which was founded in Silicon Valley, store the private keys that allow clients to access their digital currency funds. While other crypto-currency firms already operate in Switzerland, Xapo's operation as a bitcoin wallet provider had raised questions over whether it required a banking license. A burgeoning industry surrounding bitcoin - a web-based "crypto-currency" that has no central authority, relying instead on a global network of computers that validate transactions and add new bitcoins to the system - has posed questions for lawmakers and regulators. Xapo argued it did not accept deposits. Swiss authorities are eager to secure a leading role for Switzerland while playing catch-up in a rapidly changing financial technology (fintech) landscape. Bitcoin Suisse operates a network of bitcoin ATMs across the country, as well as an online and in-person brokerage for buying and selling bitcoins. But it does not itself store the private access keys that led to questions about whether Xapo was taking deposits. Switzerland's cabinet in November proposed new light-touch regulations for fintech companies aimed at bolstering business and competitiveness. The proposals include a fintech license, granted by FINMA, for institutions which are restricted to taking deposits of up to 100 million Swiss francs ($99.9 million) and do not lend. Xapo is now in the process of joining a self-regulatory organization required under Swiss anti-money laundering regulations to begin operations, Feldmeier said. (Editing by Adrian Croft) [Social Media Buzz] 1 BTC Price: BTC-e 995 USD Bitstamp 1013.63 USD Coinbase 1015.00 USD #btc #bitcoin 2017-02-03 17:30 pic.twitter.com/iHWGZRD57e \|\| 1 BTC Price: BTC-e 986.2 USD Bitstamp 998.00 USD Coinbase 1000.91 USD #btc #bitcoin 2017-02-03 07:30 pic.twitter.com/KNqViRzoVg \|\| 1 #BTC (#Bitcoin) quotes: $1016.98/$1016.99 #Bitstamp $992.90/$994.00 #BTCe ⇢$-24.09/$-22.98 $1011.77/$1022.07 #Coinbase ⇢$-5.22/$5.09 \|\| $999.03 at 11:45 UTC [24h Range: $986.00 - $1022.64 Volume: 10527 BTC] \|\| Buy Bitcoin With PayPal! Al...	1042.90, 1027.34, 1038.15, 1061.35, 1063.07, 994.38, 988.67, 1004.45, 999.18, 990.64
Given the historical Bitcoin prices from the last 90 days, predict the next 10 daily closing prices. The historical prices are: 920.38, 970.40, 989.02, 1011.80, 1029.91, 1042.90, 1027.34, 1038.15, 1061.35, 1063.07, 994.38, 988.67, 1004.45, 999.18, 990.64, 1004.55, 1007.48, 1027.44, 1046.21, 1054.42, 1047.87, 1079.98, 1115.30, 1117.44, 1166.72, 1173.68, 1143.84, 1165.20, 1179.97, 1179.97, 1222.50, 1251.01, 1274.99, 1255.15, 1267.12, 1272.83, 1223.54, 1150.00, 1188.49, 1116.72, 1175.83, 1221.38, 1231.92, 1240.00, 1249.61, 1187.81, 1100.23, 973.82, 1036.74, 1054.23, 1120.54, 1049.14, 1038.59, 937.52, 972.78, 966.72, 1045.77, 1047.15, 1039.97, 1026.43, 1071.79, 1080.50, 1102.17, 1143.81, 1133.25, 1124.78, 1182.68, 1176.90, 1175.95, 1187.87, 1187.13, 1205.01, 1200.37, 1169.28, 1167.54, 1172.52, 1182.94, 1193.91, 1211.67, 1210.29, 1229.08, 1222.05, 1231.71, 1207.21, 1250.15, 1265.49, 1281.08, 1317.73, 1316.48, 1321.79.	[Bitcoin Technical Analysis for 2017-04-29] Volume: 422705984, RSI (14-day): 72.60, 50-day EMA: 1174.47, 200-day EMA: 976.76 [Wider Market Context] None available. [Recent News (last 7 days)] Inside the world's greatest scavenger hunt, Part 3: GISHWHES stands for theGreatest International Scavenger Hunt the World Has Ever Seen. Teams of 15 have one week to complete a list of 200 difficult, charitable, or hilarious tasks. They prove they’ve completed each item by submitting a photo or video of it; their $20 entry fees go to a charity, and the winning team gets a trip to an exotic location. This is Part 3 of our five-part report on the hunt. Part 1•Part 2• Part 3 •Part 4•Part 5 Each August, as the world’s largest scavenger hunt is under way, the general public is usually unaware—except when teams perform their tasks in public places. Recent tasks have included: • Hug someone you love, motionless, in a very crowded location, for 20 minutes without moving—and time-lapse it. • Stand in a crowded public place. Ask people to sign a petition to Save The Endangered Unicorns. • Get everyone on a subway, bus, or train car to sing “Over the River and Through the Woods.” There must be at least 8 passengers (random commuters, not your friends). But each year, the list also includes challenges to perform acts of kindness. For example: • Write and mail a thank-you letter to a teacher or mentor from your past that you never sufficiently thanked. • Have a tea party with a special-needs child or pediatric cancer patient, dressed as a character from “Alice in Wonderland.” • More than 10% of veterans returning from war suffer post-traumatic stress syndrome. Post an image of you next to an armed serviceman, with you holding up a sign with a message of gratitude to them and soldiers worldwide. But for hunt creator Misha Collins (a star of the WB series “Supernatural”), neither GISHWHES nor acting were part of his life’s original master plan. “[After college,] my objective was to go to law school and somehow try to make a positive impact on the world,” he says. “I thought probably the best way to do that was to go into politics. This was, you know, my 20-year-old brain. “I was interning at the White House, but I just didn’t love the machine that I saw. I was very naive. I was exposed to this weird environment of, like, nepotism and yea-saying that I wasn’t inspired by.” So he switched paths. “I had this great get-rich-quick/make-an-impact scheme: ‘I’ll just go to Hollywood and I’ll become an actor and I’ll get famous enough that I can then leverage that celebrity into doing things.’” Off he went to Los Angeles. “I thought, like, I’d be the next Leonardo DiCaprio in a couple of months. It took me 10 years to get on a TV show. “And once I’d achieved a certain modicum of, you know, C-list celebrity, that desire to try to use my celebrity for some other purpose resurfaced.” GISHWHES was born: a list littered with acts of kindness that tens of thousands of players attempt to fulfill every August. In the most recent hunt, item 175 is a perfect example: “#175.According to the United Nations, 4.8 million people have fled Syria since the civil war began in 2011. Many of these families are living in tent cities with few resources and difficult lives. Let’s change the lives of one family that’s in particularly dire circumstances. The GISHWHES Item is to create a fundraising page for your team, where family, friends and others can donate.” “We identified one particular family with a heartbreaking story. The mom had been shot in the spine tending to her garden. She was paralyzed, she’s been in a bed in this tent for two years. And we said, let’s just change this one family’s circumstances,” Collins says. “Let’s get them a house, and let’s get her medical care, and let’s pay for the kids’ school. And I woke up the next morning to see, oh my god!” By week’s end, GISHWHES teams had raised close to $250,000. “So we added another family, and another and another—by the end of the hunt, we materially changed the lives of four different families. We’ve been getting photos from these families, like them moving into their apartments that we just paid for. It’s just such a lovely thing to be a part of.” For Team Raised From Perdition, though, there are 174 other items to complete if they hope to win. My daughter, Tia, also participated in GISHWHES. Several days have passed sinceshe launched a weather balloon into space, bearing a child’s note to the universe. It came down into a nearly inaccessible Connecticut forest; she’s unable to retrieve it even after hours of searching. Item 175 is worth more points than anything else in the hunt; for her team, it will have to be marked “incomplete.” But teammate Christine has no intention of giving up on the balloon’s precious footage. She tells Tia that she’ll just drive over to the forest to help look for it. From Chicago. Fifteen hours later, she, her husband Vince, and their children arrive, laden with gear. After hours of shaking, throwing things at, and yanking at trees, Christine’s 13-year-old son Josh climbs the tree. After an hour and a half, he dislodges the balloon. Item 175 is in the can! Not everything on the GISHWHES list is as exasperating as lost space balloons. Item 15, for example, sounds like fun: #15. This is the final showdown between the Haves and the Have-nots. Show up at Dolores Park in San Francisco, dressed either as executives or in blue-collar apparel. At exactly 12:10 PM, the ultimate water balloon battle will ensue. Nearly a thousand Gishers show up. They stand in two long lines, facing off across the park. They’ve taken the day off from work, driven for hours, even flown to San Francisco for this battle. At the stroke of noon, GISHWHES volunteer Tone Rawlings raises her megaphone, ready to announce the open-fire. But at that moment, a San Francisco park ranger runs onto the field. Ranger: “Hold on! Hold on! You can’t do this! Not without a permit! Anytime you have X amount of people in a park, you have to have a permit.” “This is like a 10-minute situation for charity,” Tone pleads. “It’s a flash-mob type situation.” “Yeah, you guys can’t do it without a permit.” (A CBS News camera picked up the audio.) The two armies can’t hear this, but they see that there’s a problem. It’s not the first time that GISHWHES stunts have tested the patience of society’s overseers. Will they be deprived of their balloon battle because of paperwork? Suddenly, a second park manager arrives. Incredibly, he’s persuaded. “Here’s the thing,” he says. “You have enough people to get this cleaned up?” “I will personally guarantee it,” Tone says. “You should have a permit. But if you can make an announcement like that, and get everyone to agree, then OK.” Tone lifts her megaphone. “I know and you know that you guys are going to be responsible for these pieces of balloon when this fight is over! Is that right?” The crowd roars in agreement. “This can’t happen…unless you guys repeat after me: I solemnly pledge to pick up every last piece of balloony plastic thing on the ground! And I will throw it all away in the proper receptacles!” The crowd roars. “Haves and Have-Nots… Commence the water-balloon melee!” The battle is on. This time, at least, the forces of merry mayhem win the day. Part 1•Part 2• Part 3 •Part 4•Part 5 More from David Pogue: Inside the World’s Greatest Scavenger Hunt: Part I Inside the World’s Greatest Scavenger Hunt: Part 2 The David Pogue Review: Windows 10 Creators Update Now I get it: Bitcoin David Pogue tested 47 pill-reminder apps to find the best one David Pogue’s search for the world’s best air-travel app The little-known iPhone feature that lets blind people see with their fingers David Pogue, tech columnist for Yahoo Finance, welcomes nontoxic comments in the comments section below. On the web, he’sdavidpogue.com. On Twitter, he’s@pogue. On email, he’s [email protected]. You canread all his articles here, or you can sign up toget his columns by email. \|\| Inside the world's greatest scavenger hunt, Part 3: GISHWHES stands for the Greatest International Scavenger Hunt the World Has Ever Seen . Teams of 15 have one week to complete a list of 200 difficult, charitable, or hilarious tasks. They prove they’ve completed each item by submitting a photo or video of it; their $20 entry fees go to a charity, and the winning team gets a trip to an exotic location. This is Part 3 of our five-part report on the hunt. Part 1 • Part 2 • Part 3 • Part 4 • Part 5 Part 3: GISHWHES for Good Each August, as the world’s largest scavenger hunt is under way, the general public is usually unaware—except when teams perform their tasks in public places. Recent tasks have included: Hug someone you love, motionless, in a very crowded location, for 20 minutes without moving—and time-lapse it. Stand in a crowded public place. Ask people to sign a petition to Save The Endangered Unicorns. Get everyone on a subway, bus, or train car to sing “Over the River and Through the Woods.” There must be at least 8 passengers (random commuters, not your friends). But each year, the list also includes challenges to perform acts of kindness. For example: Write and mail a thank-you letter to a teacher or mentor from your past that you never sufficiently thanked. Have a tea party with a special-needs child or pediatric cancer patient, dressed as a character from “Alice in Wonderland.” More than 10% of veterans returning from war suffer post-traumatic stress syndrome. Post an image of you next to an armed serviceman, with you holding up a sign with a message of gratitude to them and soldiers worldwide. But for hunt creator Misha Collins (a star of the WB series “Supernatural”), neither GISHWHES nor acting were part of his life’s original master plan. “[After college,] my objective was to go to law school and somehow try to make a positive impact on the world,” he says. “I thought probably the best way to do that was to go into politics. This was, you know, my 20-year-old brain. “I was interning at the White House, but I just didn’t love the machine that I saw. I was very naive. I was exposed to this weird environment of, like, nepotism and yea-saying that I wasn’t inspired by.” Story continues So he switched paths. “I had this great get-rich-quick/make-an-impact scheme: ‘I’ll just go to Hollywood and I’ll become an actor and I’ll get famous enough that I can then leverage that celebrity into doing things.’” Off he went to Los Angeles. “I thought, like, I’d be the next Leonardo DiCaprio in a couple of months. It took me 10 years to get on a TV show. “ And once I’d achieved a certain modicum of, you know, C-list celebrity, that desire to try to use my celebrity for some other purpose resurfaced.” GISHWHES was born: a list littered with acts of kindness that tens of thousands of players attempt to fulfill every August. Crowdsourcing for refugees In the most recent hunt, item 175 is a perfect example: “#175. According to the United Nations, 4.8 million people have fled Syria since the civil war began in 2011. Many of these families are living in tent cities with few resources and difficult lives. Let’s change the lives of one family that’s in particularly dire circumstances. The GISHWHES Item is to create a fundraising page for your team, where family, friends and others can donate.” “We identified one particular family with a heartbreaking story. The mom had been shot in the spine tending to her garden. She was paralyzed, she’s been in a bed in this tent for two years. And we said, let’s just change this one family’s circumstances,” Collins says. “Let’s get them a house, and let’s get her medical care, and let’s pay for the kids’ school. And I woke up the next morning to see, oh my god!” By week’s end, GISHWHES teams had raised close to $250,000. “So we added another family, and another and another—by the end of the hunt, we materially changed the lives of four different families. We’ve been getting photos from these families, like them moving into their apartments that we just paid for. It’s just such a lovely thing to be a part of.” The space balloon, continued For Team Raised From Perdition, though, there are 174 other items to complete if they hope to win. My daughter, Tia, also participated in GISHWHES. Several days have passed since she launched a weather balloon into space , bearing a child’s note to the universe. It came down into a nearly inaccessible Connecticut forest; she’s unable to retrieve it even after hours of searching. Item 175 is worth more points than anything else in the hunt; for her team, it will have to be marked “incomplete.” But teammate Christine has no intention of giving up on the balloon’s precious footage. She tells Tia that she’ll just drive over to the forest to help look for it. From Chicago. Fifteen hours later, she, her husband Vince, and their children arrive, laden with gear. After hours of shaking, throwing things at, and yanking at trees, Christine’s 13-year-old son Josh climbs the tree. After an hour and a half, he dislodges the balloon. Item 175 is in the can! The Haves and the Have-Nots Not everything on the GISHWHES list is as exasperating as lost space balloons. Item 15, for example, sounds like fun: #15. This is the final showdown between the Haves and the Have-nots. Show up at Dolores Park in San Francisco, dressed either as executives or in blue-collar apparel. At exactly 12:10 PM, the ultimate water balloon battle will ensue. Nearly a thousand Gishers show up. They stand in two long lines, facing off across the park. They’ve taken the day off from work, driven for hours, even flown to San Francisco for this battle. At the stroke of noon, GISHWHES volunteer Tone Rawlings raises her megaphone, ready to announce the open-fire. But at that moment, a San Francisco park ranger runs onto the field. Ranger: “Hold on! Hold on! You can’t do this! Not without a permit! Anytime you have X amount of people in a park, you have to have a permit.” “This is like a 10-minute situation for charity,” Tone pleads. “It’s a flash-mob type situation.” “Yeah, you guys can’t do it without a permit.” (A CBS News camera picked up the audio.) The two armies can’t hear this, but they see that there’s a problem. It’s not the first time that GISHWHES stunts have tested the patience of society’s overseers. Will they be deprived of their balloon battle because of paperwork? Suddenly, a second park manager arrives. Incredibly, he’s persuaded. “Here’s the thing,” he says. “You have enough people to get this cleaned up?” “I will personally guarantee it,” Tone says. “You should have a permit. But if you can make an announcement like that, and get everyone to agree, then OK.” Tone lifts her megaphone. “I know and you know that you guys are going to be responsible for these pieces of balloon when this fight is over! Is that right?” The crowd roars in agreement. “This can’t happen…unless you guys repeat after me: I solemnly pledge to pick up every last piece of balloony plastic thing on the ground! And I will throw it all away in the proper receptacles!” The crowd roars. “Haves and Have-Nots… Commence the water-balloon melee!” The battle is on. This time, at least, the forces of merry mayhem win the day. Part 1 • Part 2 • Part 3 • Part 4 • Part 5 More from David Pogue: Inside the World’s Greatest Scavenger Hunt: Part I Inside the World’s Greatest Scavenger Hunt: Part 2 The David Pogue Review: Windows 10 Creators Update Now I get it: Bitcoin David Pogue tested 47 pill-reminder apps to find the best one David Pogue’s search for the world’s best air-travel app The little-known iPhone feature that lets blind people see with their fingers David Pogue, tech columnist for Yahoo Finance, welcomes nontoxic comments in the comments section below. On the web, he’s davidpogue.com . On Twitter, he’s @pogue . On email, he’s [email protected]. You can read all his articles here , or you can sign up to get his columns by email . \|\| PayPal's strategic risks pay off: Paypal Active Customers (BI Intelligence) This story was delivered to BI Intelligence " Payments Briefing " subscribers. To learn more and subscribe, please click here . PayPal beat analyst expectations and grew its revenue to just under $3 billion, up 19% year-over-year (YoY) in Q1 2017. Those results, which were announced in the firm’s earnings presentation, position PayPal on a strong upward trajectory, particularly as it stretches into new technologies and segments of the financial ecosystem in a move to become an omnipresent player in its users’ lives. The firm is growing, but still managing to increase engagement. PayPal added customers while growing its volume. PayPal added 6 million new customers in Q1, bringing its total to 203 million active users. That’s up from the 4.5 million that it added in the same quarter last year, and puts it on track to add 20 million or more in 2017. The firm also managed to hit $99 billion in total payment volume (TPV), relatively flat sequentially but up from $81 billion last year, marking 25% growth. The firm is growing organically, rather than simply by scale. Customer growth is still outpacing TPV gains, albeit slightly. But customer engagement is growing — average quarterly interactions grew to 32 from 28 last year in Q1 — customers are using PayPal on a more regular basis, gains that could magnify over time. These are strong indicators for PayPal’s health down the line. Since last summer, PayPal has been focusing on scale, rather than on revenue. As an example, the firm has been entering strategic partnerships with issuers, card networks, and other mobile payments players. These partnerships have allowed PayPal to introduce choice for customers and offer more flexibility for users to opt to pay with a credit/debit card, rather than bank accounts, which funded the lion’s share of accounts in the past. That could be more expensive for PayPal, since card-based transactions have higher fees than bank-based transactions. But it’s pleasing and convenient to customers, which could bring its own gains. So far, that risk is paying off. Choice is increasing customer adds while driving up average spend per consumer, while the impact on margins falls safely within expectations. As PayPal continues to build partnerships that help it scale, customer and spend adds could outweigh revenue drags. And that impact could be magnified as the firm expands into new areas, like bill pay, better monetizes services like Venmo, and invests in up-and-coming mobile technology. Story continues Peer-to-peer (P2P) payments, defined as informal payments made from one person to another, have long been a prominent feature of the payments industry. That’s because individuals transfer funds to each other on a regular basis, whether it's to make a recurring payment, reimburse a friend, or split a dinner bill. Cash and checks have historically dominated the P2P ecosystem, and they’re still a popular tool. But as smartphones become a primary computing device, top digital platforms, like Venmo and Google Wallet, have enabled customers to turn away from cash and make those payments digitally with ease. Over the next few years, though overall P2P spend will remain constant, a shift to mobile payments across the board and increased spending power from the digital-savvy younger generation will cause the mobile P2P industry to skyrocket. That poses a problem for firms providing these services, though. Historically, most of these players have taken on mobile P2P at a loss because it’s a low-friction way to onboard users and won’t catch on unless it’s free, or largely free, to consumers. But as it becomes more popular and starts to eat into these firms’ traditional streams of revenue, finding ways to monetize is increasingly important. That could mean moving P2P functionality into more profitable environments, leveraging existing networks of friends to encourage spending, or offering value-added services at a nominal fee. Jaime Toplin, research analyst for BI Intelligence , Business Insider's premium research service, has compiled a detailed report on mobile P2P payments that examines what’s driving this shift to mobile P2P and explains why companies need to find a way to capitalize on it quickly. It discusses how firms can use the tools they have to gain in the P2P space, details several cases, and evaluates which strategies might be the most effective in monetizing these platforms. Here are some key takeaways from the report: Consumers still want mobile P2P services, and they’re turning to them. Individuals pay their peers on a regular basis, and as smartphones are increasingly used as computing devices, these consumers look to such services for fast and easy ways to pay. Monetizing P2P is more important than ever. Initially, P2P was a valuable onboarding tool for companies, and when it was still a small segment, taking it on at little value or a loss didn’t have major implications. But as volume grows and user bases scale fast, finding ways to monetize quickly should be a priority for firms looking to stay ahead. New technology could put some apps ahead of their peers. P2P continues to rely on networks, especially for informal, social transactions. But rather than having a large network, it’s becoming important for firms to understand their user bases and the networks within them. This means that chat apps, and leveraging bot and AI technology, may offer a distinct advantage. In full, the report: Forecasts the growth of the P2P market, and what portion of that will come from mobile channels, through 2021. Explains the factors driving that growth and details why it will come from increased usage, not increased spend per user. Evaluates why mobile P2P isn’t profitable for companies, and details several cases of attempts to monetize. Assesses which of these strategies could be most successful, and what companies need to leverage to succeed in the space. Provides context from other markets to explain shifting trends. Interested in getting the full report? Here are two ways to access it: Subscribe to an All-Access pass to BI Intelligence and gain immediate access to this report and over 100 other expertly researched reports. As an added bonus, you'll also gain access to all future reports and daily newsletters to ensure you stay ahead of the curve and benefit personally and professionally. >> START A MEMBERSHIP Purchase & download the full report from our research store. >> BUY THE REPORT More From Business Insider Fintech could be bigger than ATMs, PayPal, and Bitcoin combined PayPal One Touch hits 50 million users THE MOBILE PAYMENTS REPORT: Market forecasts, consumer trends, and the barriers and benefits that will influence adoption \|\| PayPal's strategic risks pay off: (BI Intelligence) This story was delivered to BI Intelligence "Payments Briefing" subscribers. To learn more and subscribe, pleaseclick here. PayPal beat analyst expectations and grew its revenue to just under $3 billion, up 19% year-over-year (YoY) in Q1 2017. Those results, which were announced in the firm’s earnings presentation, position PayPal on a strong upward trajectory, particularly as it stretches into new technologies and segments of the financial ecosystem in a move to become an omnipresent player in its users’ lives. The firm is growing, but still managing to increase engagement. • PayPal added customers while growing its volume. PayPal added 6 million new customers in Q1, bringing its total to 203 million active users. That’s up from the 4.5 million that it added in the same quarter last year, and puts it on track to add 20 million or more in 2017. The firm also managed to hit $99 billion in total payment volume (TPV), relatively flat sequentially but up from $81 billion last year, marking 25% growth. • The firm is growing organically, rather than simply by scale. Customer growth is still outpacing TPV gains, albeit slightly. But customer engagement is growing — average quarterly interactions grew to 32 from 28 last year in Q1 — customers are using PayPal on a more regular basis, gains that could magnify over time. These are strong indicators for PayPal’s health down the line. • Since last summer, PayPal has been focusing on scale, rather than on revenue. As an example, the firm has been entering strategic partnerships with issuers, card networks, and other mobile payments players. These partnerships have allowed PayPal to introduce choice for customers and offer more flexibility for users to opt to pay with a credit/debit card, rather than bank accounts, which funded the lion’s share of accounts in the past. That could be more expensive for PayPal, since card-based transactions have higher fees than bank-based transactions. But it’s pleasing and convenient to customers, which could bring its own gains. • So far, that risk is paying off. Choice is increasing customer adds while driving up average spend per consumer, while the impact on margins falls safely within expectations. As PayPal continues to build partnerships that help it scale, customer and spend adds could outweigh revenue drags. And that impact could be magnified as the firm expands into new areas, like bill pay, better monetizes services like Venmo, and invests in up-and-coming mobile technology. Peer-to-peer (P2P) payments, defined as informal payments made from one person to another, have long been a prominent feature of the payments industry. That’s because individuals transfer funds to each other on a regular basis, whether it's to make a recurring payment, reimburse a friend, or split a dinner bill. Cash and checks have historically dominated the P2P ecosystem, and they’re still a popular tool. But as smartphones become a primary computing device, top digital platforms, like Venmo and Google Wallet, have enabled customers to turn away from cash and make those payments digitally with ease. Over the next few years, though overall P2P spend will remain constant, a shift to mobile payments across the board and increased spending power from the digital-savvy younger generation will cause the mobile P2P industry to skyrocket. That poses a problem for firms providing these services, though. Historically, most of these players have taken on mobile P2P at a loss because it’s a low-friction way to onboard users and won’t catch on unless it’s free, or largely free, to consumers. But as it becomes more popular and starts to eat into these firms’ traditional streams of revenue, finding ways to monetize is increasingly important. That could mean moving P2P functionality into more profitable environments, leveraging existing networks of friends to encourage spending, or offering value-added services at a nominal fee. Jaime Toplin, research analyst forBI Intelligence, Business Insider's premium research service, has compileda detailed report on mobile P2P paymentsthat examines what’s driving this shift to mobile P2P and explains why companies need to find a way to capitalize on it quickly. It discusses how firms can use the tools they have to gain in the P2P space, details several cases, and evaluates which strategies might be the most effective in monetizing these platforms. Here are some key takeaways from the report: • Consumers still want mobile P2P services, and they’re turning to them. Individuals pay their peers on a regular basis, and as smartphones are increasingly used as computing devices, these consumers look to such services for fast and easy ways to pay. • Monetizing P2P is more important than ever. Initially, P2P was a valuable onboarding tool for companies, and when it was still a small segment, taking it on at little value or a loss didn’t have major implications. But as volume grows and user bases scale fast, finding ways to monetize quickly should be a priority for firms looking to stay ahead. • New technology could put some apps ahead of their peers. P2P continues to rely on networks, especially for informal, social transactions. But rather than having a large network, it’s becoming important for firms to understand their user bases and the networks within them. This means that chat apps, and leveraging bot and AI technology, may offer a distinct advantage. In full, the report: • Forecasts the growth of the P2P market, and what portion of that will come from mobile channels, through 2021. • Explains the factors driving that growth and details why it will come from increased usage, not increased spend per user. • Evaluates why mobile P2P isn’t profitable for companies, and details several cases of attempts to monetize. • Assesses which of these strategies could be most successful, and what companies need to leverage to succeed in the space. • Provides context from other markets to explain shifting trends. Interested in getting the full report? Here are two ways to access it: 1. Subscribe to anAll-Accesspass to BI Intelligence and gain immediate access to this report and over 100 other expertly researched reports. As an added bonus, you'll also gain access to all future reports and daily newsletters to ensure you stay ahead of the curve and benefit personally and professionally. >>START A MEMBERSHIP 2. Purchase & download the full report from our research store. >>BUY THE REPORT More From Business Insider • Fintech could be bigger than ATMs, PayPal, and Bitcoin combined • PayPal One Touch hits 50 million users • THE MOBILE PAYMENTS REPORT: Market forecasts, consumer trends, and the barriers and benefits that will influence adoption \|\| GrubHub shares spike 19% after company reports a surge in active diners: Shares of GrubHub (NYSE: GRUB) spiked as much as 19 percent after it reported a surge in "active diners," a measurement of the food-ordering service's ability to attract new customers. The company recorded a 26 percent jump in active diners for the first quarter, to 8.75 million from 6.97 million a year ago. GrubHub also reported first-quarter profits of 29 cents per share, on revenue of $156.1 million. They both beat analysts' expectations of 24 cents a share on sales of $153 million, according to Thomson Reuters. GrubHub, which also owns the delivery brands Seamless and Allmenus, connects diners and restaurants through online platforms and apps. Users order food through GrubHub and have it delivered directly by the restaurant. "More new diners tried Grubhub than ever before in the first quarter," said CEO Matt Maloney in a statement. Active diner growth indicates GrubHub's ability to bring on new users, said equity analyst Brian Nowak in a January CNBC report . The company competes against Amazon.com (NASDAQ: AMZN) 's Prime Now service, Yelp's (NYSE: YELP) Eat24, and Uber's UberEATS. The stock closed up 22 percent on Thursday. GrubHub shares 1-day performance More From CNBC Bitcoin jumps to a new all-time high above $1,300 Trumps tax plan may reignite one of the most popular trades of the bull market This chart reveals economists may be overestimating the 'Trump bump' \|\| GrubHub shares spike 19% after company reports a surge in active diners: Shares of GrubHub(NYSE: GRUB)spiked as much as 19 percent after it reported a surge in "active diners," a measurement of the food-ordering service's ability to attract new customers. The company recorded a 26 percent jump in active diners for the first quarter, to 8.75 million from 6.97 million a year ago. GrubHub also reported first-quarter profits of 29 cents per share, on revenue of $156.1 million. They both beat analysts' expectations of 24 cents a share on sales of $153 million, according to Thomson Reuters. GrubHub, which also owns the delivery brands Seamless and Allmenus, connects diners and restaurants through online platforms and apps. Users order food through GrubHub and have it delivered directly by the restaurant. "More new diners tried Grubhub than ever before in the first quarter," said CEO Matt Maloney in a statement. Active diner growth indicates GrubHub's ability to bring on new users, said equity analyst Brian Nowakin a January CNBC report. The company competes against Amazon.com(NASDAQ: AMZN)'s Prime Now service, Yelp's(NYSE: YELP)Eat24, and Uber's UberEATS. The stock closed up 22 percent on Thursday. More From CNBC • Bitcoin jumps to a new all-time high above $1,300 • Trump’s tax plan may reignite one of the most popular trades of the bull market • This chart reveals economists may be overestimating the 'Trump bump' \|\| Is This Tiny European Nation a Preview of Our Tech Future?: On a Spring afternoon, I’m gazing out the window of an office building on the outskirts of Estonia’s capital, Tallinn, watching people stroll below, when a cream-colored plastic container mounted on black wheels rounds the corner and begins maneuvering its way among the pedestrians. The device looks like a kid’s toy. But in reality it’s a high-tech delivery robot called Starship and potentially the next mega-profitable invention to spring from this snowy, miniature country on the northern edge of Europe-one of the more unexpected launching pads on the planet. “If you look at sci-fi movies set 20 years from now, you don’t see people carrying their groceries. Robots just arrive at their homes,” says Ahti Heinla, cofounder and CEO of Starship Technologies. Reality, he says, has caught up to sci-fi. “About two years ago we realized it was possible to create this part of the future right now.” For a snapshot of how we might all be living tomorrow, there are few better places to visit than this picturesque city of 400,000, whose winding medieval alleyways offer an elegant contrast to its digital present. Creating the future now, as Heinla puts it, is Estonia’s driving project, and increasingly it is its core business too. Fortune Magazine Most Americans or even Europeans would be unable to find this pinprick on a map, squeezed between its small Baltic Sea neighbor Latvia and mammoth Russia. Its population, just 1.3 million, is about the same as Dallas or the Bronx borough of New York City. But its modest size and remoteness belies its clout. It is here that a group of friends, including Heinla, invented the hugely popular Internet calling platform Skype. Given Estonia’s history, the invention of Skype in this country was ironic. While Americans were buying their first cell phones, about a quarter-century ago, Estonians were shut off from the world as an outpost of the Soviet Union. You could easily wait 10 years to be assigned a landline phone. By the time the Soviet Union imploded in 1991, the country was in a time warp. “We did not have anything,” says Gen. Riho Terras, the commander of Estonia’s armed forces, who had been a student activist at the time. The country had to reboot from zero. Terras says each citizen was given the equivalent of 10 euros, or $10.60. “That was it,” he says, laughing. “We started from 10 euros each.” Story continues One generation on, Estonia is a time warp of another kind: a fast-forward example of extreme digital living. For the rest of us, Estonia offers a glimpse into what happens when a country abandons old analog systems and opts to run completely online instead. That notion is not fanciful. In various forms, governments across the world, including those in Singapore, Japan, and India, are trying to determine how dramatically they can transform themselves into digital entities in order to cut budgets and streamline services (and for some, keep closer tabs on citizens). Estonia claims its online systems add 2% a year to its GDP. Starship Technologies CEO Ahti Heinla shows off one of his company’s delivery robots. Heinla was part of the team that created Skype, founded in Estonia in 2003.Photograph by Piotr Malecki-Panos Pictures for Fortune The moment I land in Tallinn, my phone pings with the city’s free Wi-Fi network, which rolled out more than 15 years ago. But the extreme-digital life of regular Estonians is far less visible. At birth, every person is assigned a unique string of 11 digits, a digital identifier that from then on is key to operating almost every aspect of that person’s life-the 21st-century version of a Social Security number. The all-digital habits begin young: Estonian children learn computer programming at school, many beginning in kindergarten. In 2000, Estonia became the first country in the world to declare Internet access a basic human right-much like food and shelter. That same year it passed a law giving digital signatures equal weight to handwritten ones. That single move created an entire paperless system. Since no one was required to sign with a pen, there was no need for paper documents to pay taxes, open a bank account, obtain a mortgage, pick up a prescription, or perform most of life’s other tasks, other than marrying and divorcing. “I established my company in about 20 minutes, without going anywhere,” says Kaidi Ruusalepp, 41, CEO of Funderbeam, an investment trading platform for early-stage, non-IPO startups, which she founded in 2013. “We never visited the tax board, the Social Security agency, anything,” she says. “Everything is online.” Kaidi Ruusalepp, founder and CEO of startup Funderbeam, at her company’s offices in Tallinn.Photograph by Piotr Malecki-Panos Pictures for Fortune So, too, are Estonians’ taxes. Almost all Estonians file taxes online-within minutes. Since public registries are all linked in one system, Estonians can log in to prefilled tax declarations showing their income, property, number of children, and so on. They make necessary tweaks and hit the send button. (Outside the U.S., this type of approach is increasingly common.) Last year thenPrime Minister Taavi Rõivas earned loud cheers on The Daily Show when he described to host Trevor Noah how he had filed his taxes on his iPad during a few idle minutes in the Luxembourg Airport. When I visit Rõivas, 37, in his office in the Estonian Parliament, it’s weirdly devoid of paper. He says during nearly three years as Prime Minister the only time he signed his name in ink was in ceremonial guest books. Theoretically, he says, the government could issue an online order to send troops into battle. “I never signed any law physically,” he says. “Never.” Estonians were also first to be able to vote online in elections, back in 2005. When I ask Estonian President Kersti Kaljulaid where she voted in last November’s elections, which brought her to power, she responds as if my question is dumb: “From my computer at home.” Kaljulaid was speaking to me while we were on a boat to Tallinn from Helsinki, in neighboring Finland, where she had just signed a deal allowing the countries to recognize each other’s digital ID cards. Now, for example, Finns and Estonians can visit doctors in the other country and automatically call up their medical records-all stored online. “We have been using digital identifiers for 17 years,” she says. “People have learned to trust the system.” Estonians might take all this tech wizardry for granted now, but the country was on its knees economically after the Soviet collapse. It had one huge advantage: It was starting from scratch. “People were paid in cash,” says Martin Ruubel, 41, president of Guardtime, a 10-year-old software security company that developed the country’s blockchain system (more on that in a moment), sitting in his Tallinn office on the grounds of a converted former military barrack. Since no Estonian had ever had a checkbook, once the Soviets were gone the country simply skipped past pen and paper and issued bank cards. It was a money saver, but had another benefit: It pushed Estonians to get online fast. Martin Ruubel, president of blockchain services company Guardtime, in his company’s offices in Tallinn.Photograph by Piotr Malecki-Panos Pictures for Fortune Scrambling to piece together a country, the new leaders, young and inexperienced, also rapidly privatized the telecom industry. “It was highly successful,” says Mart Laar, 57, who became the first post-Soviet Prime Minister, at age 32, and is now chairman of the board of supervisors for the Bank of Estonia. Since so few people had even landline phones, many simply bought mobile handsets instead. Laar, a historian, says he knew nothing about computers but believed they needed to start with the latest technology. When Finland offered to donate its analog telephone exchange to its poorer neighbor for free, Estonia turned it down. The government recruited Ruusalepp, now Funderbeam’s CEO, as the new country’s first IT lawyer when she was just 20 and still a student. “I had no law degree and no understanding of technology,” she says. Her first task was to create a law for digital signatures, years ahead of many countries. “We wanted to change the country. We had brains, and we just had to shoot,” she says. Those early decisions set the stage for today’s thriving tech scene in Estonia. Skype, founded in Tallinn in 2003, spawned a generation of techies and would-be entrepreneurs. “People thought, If Estonian guys could do something like Skype, I can do it also,” says Andrus Oks of Terra Venture Partners, an investment fund in Tallinn. And when Microsoft bought Skype in 2011 for $8.5 billion, ex-Skypers plowed money into new startups in Tallinn, further attracting U.S. investments. Skype’s founding developers, including Starship’s Heinla, also launched a venture capital fund, called Ambient Sound. “The Skype effect has been enormous,” says Heinla, who started Starship with Skype cofounder Janus Friis; major investors include Daimler A.G., as well as Silicon Valley firms Shasta Ventures and Matrix Partners. Click to enlarge. Now, if you order Chinese takeout through platforms DoorDash or Postmates in Redwood City, Calif., or Washington, D.C., your food might arrive as a Starship test run, with a ping on your mobile phone letting you know your delivery robot is at the door. Starship is also doing test deliveries in Bern, Switzerland, and London, and Domino’s Pizza plans to test some deliveries by Starship soon in Hamburg. The Skype effect does not end there. In 2011, Skype’s first employee, Taavet Hinrikus, cofounded TransferWise, an online money-transfer company, which now occupies four floors of a Tallinn building and handles about $1 billion a month in exchanges around the world. Investors include Andreessen Horowitz and Peter Thiel’s Valar Ventures. A worker scoots through the headquarters of TransferWise, an Estonian online money-transfer company co-founded by Skype’s first employee. TransferWise handles about $1 billion a month in exchanges and its investors include Andreessen Horowitz.Photograph by Piotr Malecki-Panos Pictures for Fortune With hindsight, it seems inevitable that Russia would sooner or later collide with its pint-size former territory, which, aside from becoming a major tech hub, had rushed to join both NATO and the EU after the Soviet collapse. Russia’s payback finally came in 2007-and it would markedly change Estonia. It happened when Estonia’s government decided to move a World War II memorial statue of a Soviet soldier from central Tallinn to a nearby war cemetery. Pro-Russian demonstrators burned barricades and looted stores in days of rioting. Then Estonia’s banks, its Parliament, and several public services suddenly went off-line, in one of the biggest-ever distributed denial-of-service attacks to hit a country. The 2007 cyberattack still haunts Estonia. “We were already really, really dependent on online. We had no paper originals for a lot of things,” says Guardtime’s Ruubel. Estonia believes Russia was behind the attack. Shortly after, the only NATO-accredited cyberdefense center opened in Tallinn. And this year Estonia will open the world’s first “data embassy” in Luxembourg-a storage building to house an entire backup of Estonia’s data that will enjoy the same sovereign rights as a regular embassy but be able to reboot the country remotely, in case of another attack. “It was quite clear after 2007 that we knew how to fight against external attacks,” Ruubel says. “The worry was, What if there was an attack from inside the system, with someone tampering with the data?” Street art on an office building in a Soviet-era industrial section of Tallinn.Photograph by Piotr Malecki-Panos Pictures for Fortune The answer to that concern came in the form of the technology that now underpins crucial parts of Estonia’s system, as well as some of its most successful startups, and that, in the years ahead, could help power the country’s future growth: the blockchain. Essentially a distributed database, a blockchain-the system that also underpins the cryptocurrency Bitcoin-serves as a public ledger that can never be erased or rewritten. The technology allows Estonia’s engineers to strengthen its encrypted data and lets Estonians verify at any time that their information has not been tampered with. Estonians are also required to use two-step verification for many online tasks. These and other security measures, say Estonians, make their system as close to unbreakable as possible. (The U.S. State Department said last year that cybercrime “does not represent a major threat” in Estonia.) They contrast it, for example, to Edward Snowden’s hacking into the NSA, which he continued over 18 months. “No Snowden can crack this system,” boasts President Kaljulaid. Outside the country, however, there are some doubts as to whether the Estonians’ technology is as secure as they claim. In 2014-seven years after the suspected Russian hack-engineers at the University of Michigan studied Estonia’s online-voting system and concluded that determined hackers-such as Russian operatives-could feasibly penetrate it, creating fake votes or altering the totals in order to rig elections “quite possibly without a trace,” they wrote in their report. “Estonia’s system places extreme trust in election servers and voters’ computers-all easy targets for a foreign power,” they said. Estonia disputed the claims, saying that it had worked flawlessly in six elections and that it had “a level of security greater than was possible with paper ballots.” To Estonians, the potential of extreme-digital systems for both governments and businesses is dizzying-and with the blockchain, it has only just begun. Guardtime, which has 150 employees and estimates about $23 million in revenues in 2015, is now among the world’s biggest blockchain companies, with clients around the world, including Lockheed Martin and the U.S. Department of Defense. Funderbeam uses so-called colored coin technology, based on the public Bitcoin blockchain, to keep track of transactions and investments. That eliminates the need for brokers and clearing agents. Children in a coding class in an elementary school in Tallinn.Photograph by Piotr Malecki-Panos Pictures for Fortune Ruusalepp, whose early backers at Funderbeam included the Silicon Valley venture capital investor Tim Draper, says she regularly hears Americans argue that paper records are more secure. Estonians, by contrast, would be aghast to have their medical records in paper folders in doctors’ offices, she says. “You can never see who has looked at your data,” she says. “Blockchain solves the issue of trust.” Those who created Estonia’s system say they believe the arguments raging in the U.S. over data privacy are largely misplaced. The focus should instead be to give people control over who accesses their data, by using blockchain technology. “The real issue is data integrity,” says Toomas Hendrik Ilves, an Estonian-American from Leonia, N.J., who served as Estonia’s President from 2006 until last November, and is now a senior fellow at Stanford University’s Center for International Security and Cooperation and sits on the World Economic Council’s Future of Blockchain group. He says it could take many years for the U.S.’s sprawling agencies to create an Estonian-type blockchain architecture. “I’m smack in the middle of Silicon Valley, at Stanford, and the amount of creativity is amazing,” Ilves says. “But the public sector is lagging way, way, way behind.” Having built perhaps the world’s most seamless digital system, Estonia still faces a major limitation: its size. With just 1.3 million Estonians, it runs like a well-oiled machine. But engineers claim there is vast spare capacity. Built right, the system could work with huge numbers. (The U.S. could in theory reengineer its databases from scratch, say Estonian technologists, and serve 300 million Americans just as well.) To more fully leverage its technological advantage and boost economic growth, Estonia needs more market participants. Taavi Kotka, a software engineer and entrepreneur, dreamed up the concept of virtual “e-residency' after becoming the Estonian government’s chief information officer in 2013.Photograph by Piotr Malecki-Panos Pictures for Fortune Since Estonia had little means for attracting masses of immigrants to its icy Northern European landscape, it came up with a quirky idea-another of its firsts in the world: offering people virtual residency. Taavi Kotka, 38, a software engineer and entrepreneur, dreamed up the concept after becoming the government’s chief information officer in 2013. Kotka wrote a policy paper arguing that the population needed to grow fast, and proposed a target of 10 million people by 2025. Since Estonian women were not about to have 10 babies each, the alternative was to figure out what kind of product the country could offer to the rest of the world. Somewhat like Delaware-based corporations in the U.S., e-residents of Estonia can now run their European operations remotely and do business in euros. “We want to be the office for micro and small companies, because that is basically what our country is,” say Kotka, who now works as a consultant to Estonian startups. “You cannot grow without customers.” Estonia’s first e-residency cards rolled out in December 2014. The microchips inside them are identical to Estonians’ digital ID cards but come without citizens’ rights, like voting or public pensions, and there is no obligation to pay taxes in Estonia. This is no tax haven: Estonia requires that e-residents pay their taxes to whatever country they owe them. But for a fee of 145 euros (about $154) e-residents can register companies in Estonia, no matter where they live, gaining automatic access to the EU’s giant common market-about 440 million once Britain leaves the union. Of about 18,000 e-residents so far, about 1,400 have formed companies in Estonia. On average, each of those companies spends roughly 55 euros (about $58) a month on accounting and office administration in Estonia. Click to enlarge. This year the government doubled its budget for the program and intends on doubling it again in 2018, saying it’s determined to ramp up e-residency numbers quickly. As numbers grow, so too will the business services Estonia offers. Officials have traveled to Tallinn from around the world to examine how to start their own e-residency programs. Kaspar Korjus, managing director of the e-residency program, says his office hosts about 500 delegations a year. “So far the only revenue model for countries is taxes,” he says. “But if we get 10 million e-residents paying $100 a month each, maybe we would not need taxes.” The possibilities do not end there. With its government running on the blockchain, Estonia could in theory begin marketing other inventions as they unfold-creating huge new business. Rõivas, the former Prime Minister, says Estonia is working on developing “precision medicine” that would tap into the genome data of its 1.3 million citizens in order to better diagnose illnesses, treat people, and design personalized drugs. “We can use blockchain to make sure that the data exchanged is able to be traced,” he says. It’s possible to imagine Estonia’s idea becoming a multibillion-dollar business in the years ahead-turning the whole view of government as a bureaucracy offering public services into an entity generating profits. The capital of Estonia is Tallinn, a picturesque city of 400,000 whose winding medieval alleyways offer an elegant contrast to its digital present.Photograph by Piotr Malecki-Panos Pictures for Fortune Perhaps only a place that started over from scratch in 1991 could reimagine the idea of a country. As I watch the Starship robots maneuver across the company’s office in Tallinn, CEO Heinla says he believes Estonians, after decades of living under Soviet rule, were uniquely suited to creating new ways of doing things, including how to run a government. “People grow up and see an establishment they cannot break into,” he says, so Estonians simply built something new, and more efficient. Older, more set in its ways-and more skeptical-the rest of the world has yet to catch up. Just don’t expect Estonia to wait for us. A version of this article appears in the May 1, 2017 issue of Fortune with the headline “Welcome to Tomorrow Land.” This article was originally published on FORTUNE.com \|\| Is This Tiny European Nation a Preview of Our Tech Future?: On a Spring afternoon, I’m gazing out the window of an office building on the outskirts of Estonia’s capital, Tallinn, watching people stroll below, when a cream-colored plastic container mounted on black wheels rounds the corner and begins maneuvering its way among the pedestrians. The device looks like a kid’s toy. But in reality it’s a high-tech delivery robot called Starship and potentially the next mega-profitable invention to spring from this snowy, miniature country on the northern edge of Europe-one of the more unexpected launching pads on the planet. “If you look at sci-fi movies set 20 years from now, you don’t see people carrying their groceries. Robots just arrive at their homes,” says Ahti Heinla, cofounder and CEO of Starship Technologies. Reality, he says, has caught up to sci-fi. “About two years ago we realized it was possible to create this part of the future right now.” For a snapshot of how we might all be living tomorrow, there are few better places to visit than this picturesque city of 400,000, whose winding medieval alleyways offer an elegant contrast to its digital present. Creating the future now, as Heinla puts it, is Estonia’s driving project, and increasingly it is its core business too. Most Americans or even Europeans would be unable to find this pinprick on a map, squeezed between its small Baltic Sea neighbor Latvia and mammoth Russia. Its population, just 1.3 million, is about the same as Dallas or the Bronx borough of New York City. But its modest size and remoteness belies its clout. It is here that a group of friends, including Heinla, invented the hugely popular Internet calling platform Skype. Given Estonia’s history, the invention of Skype in this country was ironic. While Americans were buying their first cell phones, about a quarter-century ago, Estonians were shut off from the world as an outpost of the Soviet Union. You could easily wait 10 years to be assigned a landline phone. By the time the Soviet Union imploded in 1991, the country was in a time warp. “We did not have anything,” says Gen. Riho Terras, the commander of Estonia’s armed forces, who had been a student activist at the time. The country had to reboot from zero. Terras says each citizen was given the equivalent of 10 euros, or $10.60. “That was it,” he says, laughing. “We started from 10 euros each.” One generation on, Estonia is a time warp of another kind: a fast-forward example of extreme digital living. For the rest of us, Estonia offers a glimpse into what happens when a country abandons old analog systems and opts to run completely online instead. That notion is not fanciful. In various forms, governments across the world, including those in Singapore, Japan, and India, are trying to determine how dramatically they can transform themselves into digital entities in order to cut budgets and streamline services (and for some, keep closer tabs on citizens). Estonia claims its online systems add 2% a year to its GDP. The moment I land in Tallinn, my phone pings with the city’s free Wi-Fi network, which rolled out more than 15 years ago. But the extreme-digital life of regular Estonians is far less visible. At birth, every person is assigned a unique string of 11 digits, a digital identifier that from then on is key to operating almost every aspect of that person’s life-the 21st-century version of a Social Security number. The all-digital habits begin young: Estonian children learn computer programming at school, many beginning in kindergarten. In 2000, Estonia became the first country in the world to declare Internet access a basic human right-much like food and shelter. That same year it passed a law giving digital signatures equal weight to handwritten ones. That single move created an entire paperless system. Since no one was required to sign with a pen, there was no need for paper documents to pay taxes, open a bank account, obtain a mortgage, pick up a prescription, or perform most of life’s other tasks, other than marrying and divorcing. “I established my company in about 20 minutes, without going anywhere,” says Kaidi Ruusalepp, 41, CEO of Funderbeam, an investment trading platform for early-stage, non-IPO startups, which she founded in 2013. “We never visited the tax board, the Social Security agency, anything,” she says. “Everything is online.” So, too, are Estonians’ taxes. Almost all Estonians file taxes online-within minutes. Since public registries are all linked in one system, Estonians can log in to prefilled tax declarations showing their income, property, number of children, and so on. They make necessary tweaks and hit the send button. (Outside the U.S., this type of approach is increasingly common.) Last year thenPrime Minister Taavi Rõivas earned loud cheers onThe Daily Showwhen he described to host Trevor Noah how he had filed his taxes on his iPad during a few idle minutes in the Luxembourg Airport. When I visit Rõivas, 37, in his office in the Estonian Parliament, it’s weirdly devoid of paper. He says during nearly three years as Prime Minister the only time he signed his name in ink was in ceremonial guest books. Theoretically, he says, the government could issue an online order to send troops into battle. “I never signed any law physically,” he says. “Never.” Estonians were also first to be able to vote online in elections, back in 2005. When I ask Estonian President Kersti Kaljulaid where she voted in last November’s elections, which brought her to power, she responds as if my question is dumb: “From my computer at home.” Kaljulaid was speaking to me while we were on a boat to Tallinn from Helsinki, in neighboring Finland, where she had just signed a deal allowing the countries to recognize each other’s digital ID cards. Now, for example, Finns and Estonians can visit doctors in the other country and automatically call up their medical records-all stored online. “We have been using digital identifiers for 17 years,” she says. “People have learned to trust the system.” Estonians might take all this tech wizardry for granted now, but the country was on its knees economically after the Soviet collapse. It had one huge advantage: It was starting from scratch. “People were paid in cash,” says Martin Ruubel, 41, president of Guardtime, a 10-year-old software security company that developed the country’s blockchain system (more on that in a moment), sitting in his Tallinn office on the grounds of a converted former military barrack. Since no Estonian had ever had a checkbook, once the Soviets were gone the country simply skipped past pen and paper and issued bank cards. It was a money saver, but had another benefit: It pushed Estonians to get online fast. Scrambling to piece together a country, the new leaders, young and inexperienced, also rapidly privatized the telecom industry. “It was highly successful,” says Mart Laar, 57, who became the first post-Soviet Prime Minister, at age 32, and is now chairman of the board of supervisors for the Bank of Estonia. Since so few people had even landline phones, many simply bought mobile handsets instead. Laar, a historian, says he knew nothing about computers but believed they needed to start with the latest technology. When Finland offered to donate its analog telephone exchange to its poorer neighbor for free, Estonia turned it down. The government recruited Ruusalepp, now Funderbeam’s CEO, as the new country’s first IT lawyer when she was just 20 and still a student. “I had no law degree and no understanding of technology,” she says. Her first task was to create a law for digital signatures, years ahead of many countries. “We wanted to change the country. We had brains, and we just had to shoot,” she says. Those early decisions set the stage for today’s thriving tech scene in Estonia. Skype, founded in Tallinn in 2003, spawned a generation of techies and would-be entrepreneurs. “People thought, If Estonian guys could do something like Skype, I can do it also,” says Andrus Oks of Terra Venture Partners, an investment fund in Tallinn. And whenMicrosoftbought Skype in 2011 for $8.5 billion, ex-Skypers plowed money into new startups in Tallinn, further attracting U.S. investments. Skype’s founding developers, including Starship’s Heinla, also launched a venture capital fund, called Ambient Sound. “The Skype effect has been enormous,” says Heinla, who started Starship with Skype cofounder Janus Friis; major investors include Daimler A.G., as well as Silicon Valley firms Shasta Ventures and Matrix Partners. Now, if you order Chinese takeout through platforms DoorDash or Postmates in Redwood City, Calif., or Washington, D.C., your food might arrive as a Starship test run, with a ping on your mobile phone letting you know your delivery robot is at the door. Starship is also doing test deliveries in Bern, Switzerland, and London, and Domino’s Pizza plans to test some deliveries by Starship soon in Hamburg. The Skype effect does not end there. In 2011, Skype’s first employee, Taavet Hinrikus, cofounded TransferWise, an online money-transfer company, which now occupies four floors of a Tallinn building and handles about $1 billion a month in exchanges around the world. Investors include Andreessen Horowitz and Peter Thiel’s Valar Ventures. With hindsight, it seems inevitable that Russia would sooner or later collide with its pint-size former territory, which, aside from becoming a major tech hub, had rushed to join both NATO and the EU after the Soviet collapse. Russia’s payback finally came in 2007-and it would markedly change Estonia. It happened when Estonia’s government decided to move a World War II memorial statue of a Soviet soldier from central Tallinn to a nearby war cemetery. Pro-Russian demonstrators burned barricades and looted stores in days of rioting. Then Estonia’s banks, its Parliament, and several public services suddenly went off-line, in one of the biggest-ever distributed denial-of-service attacks to hit a country. The 2007 cyberattack still haunts Estonia. “We were already really, really dependent on online. We had no paper originals for a lot of things,” says Guardtime’s Ruubel. Estonia believes Russia was behind the attack. Shortly after, the only NATO-accredited cyberdefense center opened in Tallinn. And this year Estonia will open the world’s first “data embassy” in Luxembourg-a storage building to house an entire backup of Estonia’s data that will enjoy the same sovereign rights as a regular embassy but be able to reboot the country remotely, in case of another attack. “It was quite clear after 2007 that we knew how to fight against external attacks,” Ruubel says. “The worry was, What if there was an attack from inside the system, with someone tampering with the data?” The answer to that concern came in the form of the technology that now underpins crucial parts of Estonia’s system, as well as some of its most successful startups, and that, in the years ahead, could help power the country’s future growth: the blockchain. Essentially a distributed database, a blockchain-the system that also underpins the cryptocurrency Bitcoin-serves as a public ledger that can never be erased or rewritten. The technology allows Estonia’s engineers to strengthen its encrypted data and lets Estonians verify at any time that their information has not been tampered with. Estonians are also required to use two-step verification for many online tasks. These and other security measures, say Estonians, make their system as close to unbreakable as possible. (The U.S. State Department said last year that cybercrime “does not represent a major threat” in Estonia.) They contrast it, for example, to Edward Snowden’s hacking into the NSA, which he continued over 18 months. “No Snowden can crack this system,” boasts President Kaljulaid. Outside the country, however, there are some doubts as to whether the Estonians’ technology is as secure as they claim. In 2014-seven years after the suspected Russian hack-engineers at the University of Michigan studied Estonia’s online-voting system and concluded that determined hackers-such as Russian operatives-could feasibly penetrate it, creating fake votes or altering the totals in order to rig elections “quite possibly without a trace,” they wrote in their report. “Estonia’s system places extreme trust in election servers and voters’ computers-all easy targets for a foreign power,” they said. Estonia disputed the claims, saying that it had worked flawlessly in six elections and that it had “a level of security greater than was possible with paper ballots.” To Estonians, the potential of extreme-digital systems for both governments and businesses is dizzying-and with the blockchain, it has only just begun. Guardtime, which has 150 employees and estimates about $23 million in revenues in 2015, is now among the world’s biggest blockchain companies, with clients around the world, includingLockheed Martinand the U.S. Department of Defense. Funderbeam uses so-called colored coin technology, based on the public Bitcoin blockchain, to keep track of transactions and investments. That eliminates the need for brokers and clearing agents. Ruusalepp, whose early backers at Funderbeam included the Silicon Valley venture capital investor Tim Draper, says she regularly hears Americans argue that paper records are more secure. Estonians, by contrast, would be aghast to have their medical records in paper folders in doctors’ offices, she says. “You can never see who has looked at your data,” she says. “Blockchain solves the issue of trust.” Those who created Estonia’s system say they believe the arguments raging in the U.S. over data privacy are largely misplaced. The focus should instead be to give people control over who accesses their data, by using blockchain technology. “The real issue is data integrity,” says Toomas Hendrik Ilves, an Estonian-American from Leonia, N.J., who served as Estonia’s President from 2006 until last November, and is now a senior fellow at Stanford University’s Center for International Security and Cooperation and sits on the World Economic Council’s Future of Blockchain group. He says it could take many years for the U.S.’s sprawling agencies to create an Estonian-type blockchain architecture. “I’m smack in the middle of Silicon Valley, at Stanford, and the amount of creativity is amazing,” Ilves says. “But the public sector is lagging way, way, way behind.” Having built perhaps the world’s most seamless digital system, Estonia still faces a major limitation: its size. With just 1.3 million Estonians, it runs like a well-oiled machine. But engineers claim there is vast spare capacity. Built right, the system could work with huge numbers. (The U.S. could in theory reengineer its databases from scratch, say Estonian technologists, and serve 300 million Americans just as well.) To more fully leverage its technological advantage and boost economic growth, Estonia needs more market participants. Since Estonia had little means for attracting masses of immigrants to its icy Northern European landscape, it came up with a quirky idea-another of its firsts in the world: offering people virtual residency. Taavi Kotka, 38, a software engineer and entrepreneur, dreamed up the concept after becoming the government’s chief information officer in 2013. Kotka wrote a policy paper arguing that the population needed to grow fast, and proposed a target of 10 million people by 2025. Since Estonian women were not about to have 10 babies each, the alternative was to figure out what kind of product the country could offer to the rest of the world. Somewhat like Delaware-based corporations in the U.S., e-residents of Estonia can now run their European operations remotely and do business in euros. “We want to be the office for micro and small companies, because that is basically what our country is,” say Kotka, who now works as a consultant to Estonian startups. “You cannot grow without customers.” Estonia’s first e-residency cards rolled out in December 2014. The microchips inside them are identical to Estonians’ digital ID cards but come without citizens’ rights, like voting or public pensions, and there is no obligation to pay taxes in Estonia. This is no tax haven: Estonia requires that e-residents pay their taxes to whatever country they owe them. But for a fee of 145 euros (about $154) e-residents can register companies in Estonia, no matter where they live, gaining automatic access to the EU’s giant common market-about 440 million once Britain leaves the union. Of about 18,000 e-residents so far, about 1,400 have formed companies in Estonia. On average, each of those companies spends roughly 55 euros (about $58) a month on accounting and office administration in Estonia. This year the government doubled its budget for the program and intends on doubling it again in 2018, saying it’s determined to ramp up e-residency numbers quickly. As numbers grow, so too will the business services Estonia offers. Officials have traveled to Tallinn from around the world to examine how to start their own e-residency programs. Kaspar Korjus, managing director of the e-residency program, says his office hosts about 500 delegations a year. “So far the only revenue model for countries is taxes,” he says. “But if we get 10 million e-residents paying $100 a month each, maybe we would not need taxes.” The possibilities do not end there. With its government running on the blockchain, Estonia could in theory begin marketing other inventions as they unfold-creating huge new business. Rõivas, the former Prime Minister, says Estonia is working on developing “precision medicine” that would tap into the genome data of its 1.3 million citizens in order to better diagnose illnesses, treat people, and design personalized drugs. “We can use blockchain to make sure that the data exchanged is able to be traced,” he says. It’s possible to imagine Estonia’s idea becoming a multibillion-dollar business in the years ahead-turning the whole view of government as a bureaucracy offering public services into an entity generating profits. Perhaps only a place that started over from scratch in 1991 could reimagine the idea of a country. As I watch the Starship robots maneuver across the company’s office in Tallinn, CEO Heinla says he believes Estonians, after decades of living under Soviet rule, were uniquely suited to creating new ways of doing things, including how to run a government. “People grow up and see an establishment they cannot break into,” he says, so Estonians simply built something new, and more efficient. Older, more set in its ways-and more skeptical-the rest of the world has yet to catch up. Just don’t expect Estonia to wait for us. A version of this article appears in the May 1, 2017 issue of Fortune with the headline “Welcome to Tomorrow Land.” This article was originally published on FORTUNE.com \|\| 10 things you need to know before the opening bell: (Volunteers, members of a primary care response team, huddle together during clashes with security forces at a rally against Venezuela's President Nicolas Maduro in Caracas, Venezuela.Reuters/Carlos Garcia Rawlins)Trump's tax plan is out. Key details from the plan include lowering the corporate tax rate to 15% and reducing the number of personal income tax brackets from seven to three with rates of 35%, 25%, and 10%, respectively. Trump won't 'terminate' NAFTA.A statement from the White House said President Donald Trump told the leaders of Mexico and Canada that he won't "terminate" NAFTA, but that he is looking to renegotiate the trade deal, Reuters says. The Bank of Japan cuts its inflation forecast.The BOJ kept policy on hold, but said it sees inflation of 1.4% in 2017, down from its previous estimate of 1.5% and below its 2% target. The Japanese yen is weaker by 0.3% at 111.35 per dollar. The ECB meets.The European Central Bank is expected to keep policy on hold as the second round of France's presidential election looms on May 7. Traders will be on the lookout for any clues as to when the central bank might taper its bond-buying program. Ahead of the decision, the euro is little changed at 1.0895 against the dollar. Bitcoin is threatening all-time highs.The cryptocurrency trades up 0.9% at $1306 a coin, holding just below its all-time high of $1327.19, which was set on March 10, the day the US Securities and Exchange Commission rejected the Winklevoss ETF. Samsung posts its best quarterly profit in 3 years.The electronics giant shrugged off the Galaxy Note 7 debacle and posted an operating profit of9.9 trillion won ($8.75 billion), its best in more than 3 years, Reuters says. Weight Watchers has a new CEO.Mindy Grossman, current chief executive of HSN, has been named CEO, Reuters says. Shares of Weight Watchers spiked as much as 13% in after-hours trade on Wednesday following the announcement. Stock markets around the world are mixed.Hong Kong's Hang Seng (+0.5%) paced the gains in Asia and Britain's FTSE (-0.6%) lags in Europe. The S&P 500 is set to open down 0.1% at 2,385. Earnings reporting is heavy.American Air, Domino's Pizza, Ford, and UPS are among the companies reporting ahead of the opening bell while Alphabet, Amazon, and GoPro highlight the names releasing their quarterly results after markets close. US economic data is moderate.Durable orders and initial claims will be released at 8:30 a.m. ET before pending home sales crosses the wires at 10 a.m. ET. The US 10-year yield is little changed at 2.30%. NOW WATCH:People are outraged by a Pepsi ad starring Kendall Jenner — here's how the company responded More From Business Insider • UNVEILED: TRUMP'S TAX PLAN • ESPN is laying off 100 employees, including some of its biggest names • A coffee expert shares the 6 things every coffee drinker should have \|\| 10 things you need to know before the opening bell: Venezuela protests (Volunteers, members of a primary care response team, huddle together during clashes with security forces at a rally against Venezuela's President Nicolas Maduro in Caracas, Venezuela.Reuters/Carlos Garcia Rawlins) Trump's tax plan is out. Key details from the plan include lowering the corporate tax rate to 15% and reducing the number of personal income tax brackets from seven to three with rates of 35%, 25%, and 10%, respectively. Trump won't 'terminate' NAFTA . A statement from the White House said President Donald Trump told the leaders of Mexico and Canada that he won't "terminate" NAFTA, but that he is looking to renegotiate the trade deal, Reuters says. The Bank of Japan cuts its inflation forecast . The BOJ kept policy on hold, but said it sees inflation of 1.4% in 2017, down from its previous estimate of 1.5% and below its 2% target. The Japanese yen is weaker by 0.3% at 111.35 per dollar. The ECB meets. The European Central Bank is expected to keep policy on hold as the second round of France's presidential election looms on May 7. Traders will be on the lookout for any clues as to when the central bank might taper its bond-buying program. Ahead of the decision, the euro is little changed at 1.0895 against the dollar. Bitcoin is threatening all-time highs. The cryptocurrency trades up 0.9% at $1306 a coin, holding just below its all-time high of $1327.19, which was set on March 10, the day the US Securities and Exchange Commission rejected the Winklevoss ETF. Samsung posts its best quarterly profit in 3 years . The electronics giant shrugged off the Galaxy Note 7 debacle and posted an operating profit of 9.9 trillion won ($8.75 billion), its best in more than 3 years, Reuters says. Weight Watchers has a new CEO . Mindy Grossman, current chief executive of HSN, has been named CEO, Reuters says. Shares of Weight Watchers spiked as much as 13% in after-hours trade on Wednesday following the announcement. Stock markets around the world are mixed . Hong Kong's Hang Seng (+0.5%) paced the gains in Asia and Britain's FTSE (-0.6%) lags in Europe. The S&P 500 is set to open down 0.1% at 2,385. Story continues Earnings reporting is heavy. American Air, Domino's Pizza, Ford, and UPS are among the companies reporting ahead of the opening bell while Alphabet, Amazon, and GoPro highlight the names releasing their quarterly results after markets close. US economic data is moderate. Durable orders and initial claims will be released at 8:30 a.m. ET before pending home sales crosses the wires at 10 a.m. ET. The US 10-year yield is little changed at 2.30%. NOW WATCH: People are outraged by a Pepsi ad starring Kendall Jenner — here's how the company responded More From Business Insider UNVEILED: TRUMP'S TAX PLAN ESPN is laying off 100 employees, including some of its biggest names A coffee expert shares the 6 things every coffee drinker should have \|\| More than 75 banks are now on Ripple's blockchain network: The concept of ablockchainoriginated in 2009 with the digital currency bitcoin, but now Wall Street institutions are interested in blockchain technology without bitcoin. RippleNet is a blockchain-like protocol for faster settlement of international payments. It launched in 2012 butits concept predates bitcoin.And it has added 75 banking clients already. Ripple Labs announced on Wednesday it has signed 10 new banks from all over the world, including BBVA in Spain; MUFG in Japan; Akbank in Turkey; SEB in Sweden; and Axis Bank and Yes Bank, both in India. Add those 10 to the 47-bank consortium in Japan that implementedRipple in March. And add those 57 to existing big-name clients like Bank of America, RBC, Standard Chartered and UBS, and RippleNet starts to look like it’s gaining traction very quickly. “Our pace [of signing new clients] has dramatically increased,” says Ripple Labs CEO Brad Garlinghouse. “I also think people are getting more comfortable with blockchain technologies. It’s no longer a science experiment. It’s not theory, it’s very real.” Thebitcoin blockchain is a decentralized, public, permissionless ledgerthat records every transaction and trade done in bitcoin. But now all manner of companies, from “blockchain as a service” startups like Rippleand Chainto established tech giants like IBM, are developing all manner of distributed ledgers forareas like food shipment tracking, smart contracts, and agriculture. In many cases these applications of blockchain are closed and permissioned, which is a very different proposition than the spirit of the anonymized, open-to-all bitcoin blockchain. In banking, for now, the main appeal is toimprove the efficiency of their transaction processing. Ripple’s value proposition to banking clients is cheaper rates and faster transfer times for international payments. The bank’s customers don’t have to know or care that they’re using Ripple (it isn’t like you’d tell your bank, “I want to send this money using Ripple”), but would certainly notice the faster transaction time than they’re used to. Garlinghouse gives the pitch to banks this way: “If your customer wants to send yen to Japan, you are captive to the correspondent banking network and your customer has a bad experience and you, as a bank, have to endure cost to transmit that money.” Ripple’s Consensus Ledger can process 1,000 transactions per second, and settles an international payment in three seconds on average. (He compares that to the bitcoin blockchain, which has slowed recently to two hours per transaction, creating a debate over block size; to be fair, both speeds are much faster than sending money with a traditional clearinghouse like Western Union.) Ripple can also be used for in-country payments; many of the banks in Japan are using Ripple for domestic payments due to the sluggishness of the local payments network there. But for the most part, Ripple is focusing on cross-border payments because that’s the biggest pain point for banks and banking customers. Santander added a function to its mobile app that lets customerssend money abroad over the Ripple network.While Ripple is hardly the only blockchain-for-banking startup out there, Garlinghouse boasts, “We are the only company in the space with real customers.” Competitors, Garlinghouse says, “are still playing in the sandbox. And proof of concepts are not a business model.” That’s tough talk, and true only to an extent. Chain has partnered with heavy-hitters like Visa, Citi, and Nasdaq, but for now the results have been experiments, trial runs,or “previews” like Visa B2B Connect. All the experimentation has led critics to say that the Wall Street interest in blockchain is all just talk, or as IBM blockchain exec Jerry Cuomo puts it, “blockchain tourism.” Ripple CTO Stefan Thomas acknowledges that the term itself has become a “classic technology buzzword.” But Garlinghouse is confident that distributed ledger technology and its many applications will bring about the “Internet of value.” Many have applied that phrase to bitcoin (causing some contention over who owns the phrase), but Garlinghouse says it hasn’t lived up to that promise. “We feel like to enable an Internet of value, you have to connect through repositories of value, and those are the banks,” he says. “Where many in the bitcoin community have espoused a view of, ‘Down with the banks, down with fiat currency,’ Ripple has taken the opposite: we think the banks are critical to the future of an Internet of value.” Bitcoin has risen 178% in value in the past year(it’s now around $1,300), but critics now doubt that the coin can become more than a speculative investment. “We might end up finding that bitcoin is the Napster of digital assets,” Garlinghouse says. “Napster lived in a world devoid of trademark law, and royalties, andtried to live outside of the rules, and you could say the same about bitcoin. I’m not predicting that bitcoin will go the way of Napster, but I would point out that bitcoin has demonstrated some very cool capabilities that, in the end, bitcoin may not be the best tool for.” Ripple has its own digital token, XRP, and it is often billed by tech press as a bitcoin competitor, but that’s not quite right. Ripple uses it as a settlement token, and banking clients don’t have to use it or touch it at all. It is more of an institutional digital asset than a public investment vehicle like bitcoin, though anyone could buy some XRP if they wish. (Its value has risen 345% in the past year, but in dollars it is worth just 3 cents; again, its trading price is not the point.) Ripple’s XRP coin is “about reducing the cost for banks to fund liquidity around the world,” says Garlinghouse. That can double as a statement of Ripple’s purpose, too. And if its banking clients, over time, decide that Ripple’s rail has reduced friction and made customers happier, expect Ripple to continue adding banks and financial clients, who are itching to show their innovativeness by saying they’re in the blockchain tech space. — Daniel Roberts covers bitcoin and blockchain tech at Yahoo Finance. Follow him on Twitter at@readDanwrite. Read more: America’s big banks are staffing up—for blockchain Why 21 Inc is the most exciting bitcoin company right now Coinbase is more bullish on bitcoin than ever How big banks are paying lip service to the blockchain Bitcoin’s biggest investor just bought its biggest news site \|\| Ripple has attracted more than 75 banks: The concept of a blockchain originated in 2009 with the digital currency bitcoin, but now Wall Street institutions are interested in blockchain technology without bitcoin. RippleNet is a blockchain-like protocol for faster settlement of international payments. It launched in 2012 but its concept predates bitcoin. And it has added 75 banking clients already. Ripple Labs announced on Wednesday it has signed 10 new banks from all over the world, including BBVA in Spain; MUFG in Japan; Akbank in Turkey; SEB in Sweden; and Axis Bank and Yes Bank, both in India. Add those 10 to the 47-bank consortium in Japan that implemented Ripple in March. And add those 57 to existing big-name clients like Bank of America, RBC, Standard Chartered and UBS, and RippleNet starts to look like it’s gaining traction very quickly. “Our pace [of signing new clients] has dramatically increased,” says Ripple Labs CEO Brad Garlinghouse. “I also think people are getting more comfortable with blockchain technologies. It’s no longer a science experiment. It’s not theory, it’s very real.” The bitcoin blockchain is a decentralized, public, permissionless ledger that records every transaction and trade done in bitcoin. But now all manner of companies, from “blockchain as a service” startups like Ripple and Chain to established tech giants like IBM, are developing all manner of distributed ledgers for areas like food shipment tracking , smart contracts, and agriculture. In many cases these applications of blockchain are closed and permissioned, which is a very different proposition than the spirit of the anonymized, open-to-all bitcoin blockchain. In banking, for now, the main appeal is to improve the efficiency of their transaction processing . From the Ripple web site Why banks are gravitating to Ripple Ripple’s value proposition to banking clients is cheaper rates and faster transfer times for international payments. The bank’s customers don’t have to know or care that they’re using Ripple (it isn’t like you’d tell your bank, “I want to send this money using Ripple”), but would certainly notice the faster transaction time than they’re used to. Garlinghouse gives the pitch to banks this way: “If your customer wants to send yen to Japan, you are captive to the correspondent banking network and your customer has a bad experience and you, as a bank, have to endure cost to transmit that money.” Ripple’s Consensus Ledger can process 1,000 transactions per second, and settles an international payment in three seconds on average. (He compares that to the bitcoin blockchain, which has slowed recently to two hours per transaction, creating a debate over block size; to be fair, both speeds are much faster than sending money with a traditional clearinghouse like Western Union.) Story continues Ripple can also be used for in-country payments; many of the banks in Japan are using Ripple for domestic payments due to the sluggishness of the local payments network there. But for the most part, Ripple is focusing on cross-border payments because that’s the biggest pain point for banks and banking customers. Santander added a function to its mobile app that lets customers send money abroad over the Ripple network . While Ripple is hardly the only blockchain-for-banking startup out there, Garlinghouse boasts, “We are the only company in the space with real customers.” Competitors, Garlinghouse says, “are still playing in the sandbox. And proof of concepts are not a business model.” That’s tough talk, and true only to an extent. Chain has partnered with heavy-hitters like Visa, Citi, and Nasdaq, but for now the results have been experiments, trial runs, or “previews” like Visa B2B Connect . All the experimentation has led critics to say that the Wall Street interest in blockchain is all just talk, or as IBM blockchain exec Jerry Cuomo puts it, “ blockchain tourism .” Ripple CTO Stefan Thomas acknowledges that the term itself has become a “classic technology buzzword.” But Garlinghouse is confident that distributed ledger technology and its many applications will bring about the “Internet of value.” Many have applied that phrase to bitcoin ( causing some contention over who owns the phrase ), but Garlinghouse says it hasn’t lived up to that promise. “We feel like to enable an Internet of value, you have to connect through repositories of value, and those are the banks,” he says. “Where many in the bitcoin community have espoused a view of, ‘Down with the banks, down with fiat currency,’ Ripple has taken the opposite: we think the banks are critical to the future of an Internet of value.” What about bitcoin? Bitcoin has risen 178% in value in the past year (it’s now around $1,300), but critics now doubt that the coin can become more than a speculative investment. “We might end up finding that bitcoin is the Napster of digital assets,” Garlinghouse says. “Napster lived in a world devoid of trademark law, and royalties, and tried to live outside of the rules , and you could say the same about bitcoin. I’m not predicting that bitcoin will go the way of Napster, but I would point out that bitcoin has demonstrated some very cool capabilities that, in the end, bitcoin may not be the best tool for.” Ripple’s digital currency, XRP Ripple price over the past 3 months (via CoinMarketCap) Ripple has its own digital token, XRP, and it is often billed by tech press as a bitcoin competitor, but that’s not quite right. Ripple uses it as a settlement token, and banking clients don’t have to use it or touch it at all. It is more of an institutional digital asset than a public investment vehicle like bitcoin, though anyone could buy some XRP if they wish. (Its value has risen 345% in the past year, but in dollars it is worth just 3 cents; again, its trading price is not the point.) Ripple’s XRP coin is “about reducing the cost for banks to fund liquidity around the world,” says Garlinghouse. That can double as a statement of Ripple’s purpose, too. And if its banking clients, over time, decide that Ripple’s rail has reduced friction and made customers happier, expect Ripple to continue adding banks and financial clients, who are itching to show their innovativeness by saying they’re in the blockchain tech space. — Daniel Roberts covers bitcoin and blockchain tech at Yahoo Finance. Follow him on Twitter at @readDanwrite . Read more: America’s big banks are staffing up—for blockchain Why 21 Inc is the most exciting bitcoin company right now Coinbase is more bullish on bitcoin than ever How big banks are paying lip service to the blockchain Bitcoin’s biggest investor just bought its biggest news site View comments \|\| Your first trade for Wednesday, April 26: The " Fast Money " traders shared their first moves for the market open. Tim Seymour was a buyer of the iShares MSCI Europe Financials ETF (NASDAQ: EUFN) . Brian Kelly was a buyer of Freeport-McMoRan (NYSE: FCX) . Steve Grasso was a buyer of Square (NYSE: SQ) . Guy Adami was a buyer of Juno Therapeutics (NASDAQ: JUNO) . Trader disclosure: On April 25, 2017, the following stocks and commodities mentioned or intended to be mentioned on CNBC's "Fast Money" were owned by the "Fast Money" traders: Tim Seymour is long ABX, AAPL, APC, AVP, BAC, BBRY, C, CLF, CVX, DO, DVYE, EDC, EWN, EWZ, F, FB, FCX, FXI, GM, GOOGL, GE, INTC, LQD, MOS, MCD, MUR, OIH, PG, RACE, RAI, RH, RL, SINA, SQ,T, TWTR, VALE, VZ, XOM. short: EEM, SPY, XRT; Tim's firm is long ABX, BABA, BIDU, CBD, CLF, EEM, EWZ, F, KO, MCD, MPEL, NKE, PEP, PF, TCEHY, SAVE, SBUX, SINA, VALE, VIAB, WMT, WEN, X, YHOO, short EWG, HYG, IWM. Brian Kelly is long Bitcoin, FCX, GE, GDX, HLF, IWM, TLT, TSLA, WMT. Steve Grasso's firm is long stock AON, BX, CUBA, DIA, F, HES, ICE, KDUS, MAT, MFIN, MJNA, MSFT, NE, RIG, SNAP, SPY, SQBG, TITXF, UA, WDR, WPX, ZNGA. Grasso is long stock BABA, CHK, EEM, EVGN, GDX, KBH, MJNA, MO, MON, OLN, PHM, SQ, T, TWTR, VRX. Grasso's kids own EFA, EFG, EWJ, IJR, SPY. No Shorts. Guy Adami is long CELG, EXAS, GDX, INTC, Guy Adami's wife, Linda Snow, works at Merck. More From CNBC Which stocks to buy as earnings season heats up Your first trade for Tuesday, April 25 Traders discuss strategy as US equities rally after French elections \|\| Your first trade for Wednesday, April 26: The "Fast Money" traders shared their first moves for the market open. Tim Seymour was a buyer of the iShares MSCI Europe Financials ETF(NASDAQ: EUFN). Brian Kelly was a buyer of Freeport-McMoRan(NYSE: FCX). Steve Grasso was a buyer of Square(NYSE: SQ). Guy Adami was a buyer of Juno Therapeutics(NASDAQ: JUNO). Trader disclosure: On April 25, 2017, the following stocks and commodities mentioned or intended to be mentioned on CNBC's "Fast Money" were owned by the "Fast Money" traders: Tim Seymour is long ABX, AAPL, APC, AVP, BAC, BBRY, C, CLF, CVX, DO, DVYE, EDC, EWN, EWZ, F, FB, FCX, FXI, GM, GOOGL, GE, INTC, LQD, MOS, MCD, MUR, OIH, PG, RACE, RAI, RH, RL, SINA, SQ,T, TWTR, VALE, VZ, XOM. short: EEM, SPY, XRT; Tim's firm is long ABX, BABA, BIDU, CBD, CLF, EEM, EWZ, F, KO, MCD, MPEL, NKE, PEP, PF, TCEHY, SAVE, SBUX, SINA, VALE, VIAB, WMT, WEN, X, YHOO, short EWG, HYG, IWM. Brian Kelly is long Bitcoin, FCX, GE, GDX, HLF, IWM, TLT, TSLA, WMT. Steve Grasso's firm is long stock AON, BX, CUBA, DIA, F, HES, ICE, KDUS, MAT, MFIN, MJNA, MSFT, NE, RIG, SNAP, SPY, SQBG, TITXF, UA, WDR, WPX, ZNGA. Grasso is long stock BABA, CHK, EEM, EVGN, GDX, KBH, MJNA, MO, MON, OLN, PHM, SQ, T, TWTR, VRX. Grasso's kids own EFA, EFG, EWJ, IJR, SPY. No Shorts. Guy Adami is long CELG, EXAS, GDX, INTC, Guy Adami's wife, Linda Snow, works at Merck. More From CNBC • Which stocks to buy as earnings season heats up • Your first trade for Tuesday, April 25 • Traders discuss strategy as US equities rally after French elections \|\| Record-Breaking Performances at Flow CARIFTA Games 2017: WILLEMSTAD, CURACAO--(Marketwired - Apr 25, 2017) - Caribbean sports fans had a front row seat at the recently concludedFlow CARIFTA Games 2017as they witnessed record breaking performances by rising Caribbean star athletes via Flow's world class coverage of the Games on Flow Sports Premier. Ten athletic records were set over the three day event including the stellar performance of hometown hero and Austin Sealy Award winner,Glenn Kunstwho established a new meet record of 4.65 metres in the boys' pole vault. Other records set at the 2017 Flow CARIFTA Games include: Jamaica'sRoje Stonain the boys Under-20 discus (66.41m),Fiona Richardsin the girls Under-20 discus (54.19m),Britany Andersonin the girls Under-18 100m hurdles (13.16 seconds),Sanique Walkerin the girls Under-18 400m (58.95 seconds),Daniel Copein the boys Under-18 shot put (18.17m) and discus (61.25m), Trinidad and Tobago'sTyrique Horsfordin the boys Under-18 javelin (76.50m) andJermaine Francisof St. Kitts & Nevis in the boys Under-20 high jump (2.22m).Jamaica's Under-18 boysdipped below the 40-second mark for the first time in CARIFTA Games history in the 4x100m relay for a new record of 39.97 seconds. Organisers of theFlow CARIFTA Games 2017, including International Association of Athletic Federations (IAAF) and the North American, Central American and Caribbean Athletics Association (NACAC), have described the Games as "a big win for Caribbean sports fans, and a new standard for excellence in sports broadcasting across the region." More than 500,000 viewers in the Caribbean caught over 15 hours of high-definition coverage live from the Ergilio Hato Stadion, in Willemstad, Curacao. In addition, through partnership with US sports networkEleven Sportsand online sports websiteFlotrack.org, more than 70 million households across North America had access to the Games. To reach an even wider global audience, Flow also partnered withwww.dailymotion.com, who reported that more than fourteen thousand (14K) hours of live CARIFTA games coverage was viewed via the site over the three days. "A huge success is how the 2017 Flow CARIFTA Games will be remembered and because of Flow the world now has the chance to see the future of Caribbean athletics like they have never seen," said Victor Lopez, President of NACAC. "It is the first time that Curacao has hosted a sporting event of this size and the organisers and broadcasters did a fantastic job. All the feedback I've received is that people are pleased with what they saw. NACAC is especially proud of the invaluable partnership with Flow and Flow Sports for the sponsorship and broadcast of the Flow CARIFTA Games throughout the Caribbean and the world." Lord Sebastian Coe, President of the IAAF, also heaped praise on Flow for its coverage of the Games. "There is no Caribbean athlete that has graduated to the very highest level of sport that cannot look to the opportunities that the Flow CARIFTA Games has afforded them, and I want to congratulate NACAC for establishing its relationship with Flow," he said during a press conference on the opening day of the Games. "It is very important there is now a relationship that allows the Flow CARIFTA Games to be seen not just around the region, but across the globe on a number of platforms. This is the future of our sport." About C&W Communications C&W is a full service communications and entertainment provider and delivers market-leading video, broadband, telephony and mobile services to consumers in 18 countries. Through its business division, C&W provides data center hosting, domestic and international managed network services, and customized IT service solutions, utilizing cloud technology to serve business and government customers. C&W also operates a state-of-the-art submarine fiber network - the most extensive in the region. Learn more atwww.cwc.com, or follow C&W onLinkedIn,FacebookorTwitter. About Liberty Global Liberty Global is the world's largest international TV and broadband company, with operations in more than 30 countries across Europe, Latin America and the Caribbean. We invest in the infrastructure that empowers our customers to make the most of the digital revolution. Our scale and commitment to innovation enable us to develop market-leading products delivered through next generation networks that connect our 25 million customers who subscribe to over 50 million television, broadband internet and telephony services. We also serve over 10 million mobile subscribers and offer WiFi service across 5 million access points. Liberty Global's businesses are comprised of two stocks: the Liberty Global Group (NASDAQ:LBTYA) (NASDAQ:LBTYB) (NASDAQ:LBTYK) for our European operations, and the LiLAC Group (NASDAQ:LILA) and (NASDAQ:LILAK) (OTC PINK:LILAB), which consists of our operations in Latin America and the Caribbean. The Liberty Global Group operates in 11 European countries under the consumer brands Virgin Media, Unitymedia, Telenet and UPC. The Liberty Global Group also owns 50% of VodafoneZiggo, a Dutch joint venture, which has 4 million customers, 10 million fixed-line subscribers and 5 million mobile subscribers. The LiLAC Group operates in over 20 countries in Latin America and the Caribbean under the consumer brands VTR, Flow, Liberty, Más Móvil and BTC. In addition, the LiLAC Group operates a sub-sea fiber network throughout the region in over 30 markets. For more information, please visitwww.libertyglobal.com. Image Available:http://www2.marketwire.com/mw/frame_mw?attachid=3132910 \|\| Record-Breaking Performances at Flow CARIFTA Games 2017: WILLEMSTAD, CURACAO--(Marketwired - Apr 25, 2017) - Caribbean sports fans had a front row seat at the recently concluded Flow CARIFTA Games 2017 as they witnessed record breaking performances by rising Caribbean star athletes via Flow's world class coverage of the Games on Flow Sports Premier. Ten athletic records were set over the three day event including the stellar performance of hometown hero and Austin Sealy Award winner, Glenn Kunst who established a new meet record of 4.65 metres in the boys' pole vault. Other records set at the 2017 Flow CARIFTA Games include: Jamaica's Roje Stona in the boys Under-20 discus (66.41m), Fiona Richards in the girls Under-20 discus (54.19m), Britany Anderson in the girls Under-18 100m hurdles (13.16 seconds), Sanique Walker in the girls Under-18 400m (58.95 seconds), Daniel Cope in the boys Under-18 shot put (18.17m) and discus (61.25m), Trinidad and Tobago's Tyrique Horsford in the boys Under-18 javelin (76.50m) and Jermaine Francis of St. Kitts & Nevis in the boys Under-20 high jump (2.22m). Jamaica's Under-18 boys dipped below the 40-second mark for the first time in CARIFTA Games history in the 4x100m relay for a new record of 39.97 seconds. Organisers of the Flow CARIFTA Games 2017 , including International Association of Athletic Federations (IAAF) and the North American, Central American and Caribbean Athletics Association ( NACAC ), have described the Games as "a big win for Caribbean sports fans, and a new standard for excellence in sports broadcasting across the region." More than 500,000 viewers in the Caribbean caught over 15 hours of high-definition coverage live from the Ergilio Hato Stadion, in Willemstad, Curacao. In addition, through partnership with US sports network Eleven Sports and online sports website Flotrack.org , more than 70 million households across North America had access to the Games. To reach an even wider global audience, Flow also partnered with www.dailymotion.com , who reported that more than fourteen thousand (14K) hours of live CARIFTA games coverage was viewed via the site over the three days. Story continues "A huge success is how the 2017 Flow CARIFTA Games will be remembered and because of Flow the world now has the chance to see the future of Caribbean athletics like they have never seen," said Victor Lopez, President of NACAC. "It is the first time that Curacao has hosted a sporting event of this size and the organisers and broadcasters did a fantastic job. All the feedback I've received is that people are pleased with what they saw. NACAC is especially proud of the invaluable partnership with Flow and Flow Sports for the sponsorship and broadcast of the Flow CARIFTA Games throughout the Caribbean and the world." Lord Sebastian Coe, President of the IAAF, also heaped praise on Flow for its coverage of the Games. "There is no Caribbean athlete that has graduated to the very highest level of sport that cannot look to the opportunities that the Flow CARIFTA Games has afforded them, and I want to congratulate NACAC for establishing its relationship with Flow," he said during a press conference on the opening day of the Games. "It is very important there is now a relationship that allows the Flow CARIFTA Games to be seen not just around the region, but across the globe on a number of platforms. This is the future of our sport." About C&W Communications C&W is a full service communications and entertainment provider and delivers market-leading video, broadband, telephony and mobile services to consumers in 18 countries. Through its business division, C&W provides data center hosting, domestic and international managed network services, and customized IT service solutions, utilizing cloud technology to serve business and government customers. C&W also operates a state-of-the-art submarine fiber network - the most extensive in the region. Learn more at www.cwc.com , or follow C&W on LinkedIn , Facebook or Twitter . About Liberty Global Liberty Global is the world's largest international TV and broadband company, with operations in more than 30 countries across Europe, Latin America and the Caribbean. We invest in the infrastructure that empowers our customers to make the most of the digital revolution. Our scale and commitment to innovation enable us to develop market-leading products delivered through next generation networks that connect our 25 million customers who subscribe to over 50 million television, broadband internet and telephony services. We also serve over 10 million mobile subscribers and offer WiFi service across 5 million access points. Liberty Global's businesses are comprised of two stocks: the Liberty Global Group ( NASDAQ : LBTYA ) ( NASDAQ : LBTYB ) ( NASDAQ : LBTYK ) for our European operations, and the LiLAC Group ( NASDAQ : LILA ) and ( NASDAQ : LILAK ) ( OTC PINK : LILAB ), which consists of our operations in Latin America and the Caribbean. The Liberty Global Group operates in 11 European countries under the consumer brands Virgin Media, Unitymedia, Telenet and UPC. The Liberty Global Group also owns 50% of VodafoneZiggo, a Dutch joint venture, which has 4 million customers, 10 million fixed-line subscribers and 5 million mobile subscribers. The LiLAC Group operates in over 20 countries in Latin America and the Caribbean under the consumer brands VTR, Flow, Liberty, Más Móvil and BTC. In addition, the LiLAC Group operates a sub-sea fiber network throughout the region in over 30 markets. For more information, please visit www.libertyglobal.com . Image Available: http://www2.marketwire.com/mw/frame_mw?attachid=3132910 \|\| U.S. regulators to review decision denying Bitcoin ETF - filing: By Trevor Hunnicutt NEW YORK (Reuters) - The U.S. Securities and Exchange Commission plans to review its decision last month to block the listing of the first U.S. exchange-traded fund tracking the digital currency bitcoin, a regulatory filing showed on Tuesday. A more-than-three-year effort by investors Cameron and Tyler Winklevoss to convince the SEC to allow it to bring the Bitcoin ETF to market stalled when the agency's staff ruled against them in March. Bitcoin is a virtual currency that can be used to move money around the world quickly and with relative anonymity, without the need for a central authority, such as a bank or government. A fund holding the currency could bring more professional investors to the asset and push its price higher. Yet bitcoin presents a new set of risks to investors given its limited adoption, a number of massive cybersecurity breaches affecting bitcoin owners and the lack of consistent treatment of the assets by governments. Bitcoin traded up 1.7 percent at $1274.99 earlier on Tuesday. The digital currency has rebounded after initially plunging following the SEC's initial decision calling the digital currency market "unregulated." CBOE Holdings Inc's Bats exchange had applied to list the ETF and appealed to the commission to review its staff's decision. The exchange did not immediately respond to a request for comment. (Reporting by Trevor Hunnicutt; Editing by Chizu Nomiyama and Diane Craft) \|\| U.S. regulators to review decision denying Bitcoin ETF - filing: By Trevor Hunnicutt NEW YORK (Reuters) - The U.S. Securities and Exchange Commission plans to review its decision last month to block the listing of the first U.S. exchange-traded fund tracking the digital currency bitcoin, a regulatory filing showed on Tuesday. A more-than-three-year effort by investors Cameron and Tyler Winklevoss to convince the SEC to allow it to bring the Bitcoin ETF to market stalled when the agency's staff ruled against them in March. Bitcoin is a virtual currency that can be used to move money around the world quickly and with relative anonymity, without the need for a central authority, such as a bank or government. A fund holding the currency could bring more professional investors to the asset and push its price higher. Yet bitcoin presents a new set of risks to investors given its limited adoption, a number of massive cybersecurity breaches affecting bitcoin owners and the lack of consistent treatment of the assets by governments. Bitcoin traded up 1.7 percent at $1274.99 earlier on Tuesday. The digital currency has rebounded after initially plunging following the SEC's initial decision calling the digital currency market "unregulated." CBOE Holdings Inc's Bats exchange had applied to list the ETF and appealed to the commission to review its staff's decision. The exchange did not immediately respond to a request for comment. (Reporting by Trevor Hunnicutt; Editing by Chizu Nomiyama and Diane Craft) \|\| U.S. regulators to review decision denying Bitcoin ETF - filing: By Trevor Hunnicutt NEW YORK (Reuters) - The U.S. Securities and Exchange Commission plans to review its decision last month to block the listing of the first U.S. exchange-traded fund tracking the digital currency bitcoin, a regulatory filing showed on Tuesday. A more-than-three-year effort by investors Cameron and Tyler Winklevoss to convince the SEC to allow it to bring the Bitcoin ETF to market stalled when the agency's staff ruled against them in March. Bitcoin is a virtual currency that can be used to move money around the world quickly and with relative anonymity, without the need for a central authority, such as a bank or government. A fund holding the currency could bring more professional investors to the asset and push its price higher. Yet bitcoin presents a new set of risks to investors given its limited adoption, a number of massive cybersecurity breaches affecting bitcoin owners and the lack of consistent treatment of the assets by governments. Bitcoin traded up 1.7 percent at $1274.99 earlier on Tuesday. The digital currency has rebounded after initially plunging following the SEC's initial decision calling the digital currency market "unregulated." CBOE Holdings Inc's Bats exchange had applied to list the ETF and appealed to the commission to review its staff's decision. The exchange did not immediately respond to a request for comment. (Reporting by Trevor Hunnicutt; Editing by Chizu Nomiyama and Diane Craft) \|\| U.S. regulators to review decision denying Bitcoin ETF: filing: By Trevor Hunnicutt NEW YORK (Reuters) - The U.S. Securities and Exchange Commission plans to review its decision last month to block the listing of the first U.S. exchange-traded fund tracking the digital currency bitcoin, a regulatory filing showed on Tuesday. A more-than-three-year effort by investors Cameron and Tyler Winklevoss to convince the SEC to allow it to bring the Bitcoin ETF to market stalled when the agency's staff ruled against them in March. Bitcoin is a virtual currency that can be used to move money around the world quickly and with relative anonymity, without the need for a central authority, such as a bank or government. A fund holding the currency could bring more professional investors to the asset and push its price higher. Yet bitcoin presents a new set of risks to investors given its limited adoption, a number of massive cybersecurity breaches affecting bitcoin owners and the lack of consistent treatment of the assets by governments. Bitcoin (BTC=BTSP) traded up 1.7 percent at $1274.99 earlier on Tuesday. The digital currency has rebounded after initially plunging following the SEC's initial decision calling the digital currency market "unregulated." CBOE Holdings Inc's (CBOE.O) Bats exchange had applied to list the ETF and appealed to the commission to review its staff's decision. The exchange did not immediately respond to a request for comment. (Reporting by Trevor Hunnicutt; Editing by Chizu Nomiyama and Diane Craft) [Social Media Buzz] 1 #BTC (#Bitcoin) quotes: $1331.00/$1332.13 #Bitstamp $1286.35/$1292.64 #BTCe ⇢$-45.78/$-38.36 $1355.76/$1370.11 #Coinbase ⇢$23.63/$39.11 \|\| $1319.99 at 09:45 UTC [24h Range: $1299.00 - $1340.00 Volume: 7257 BTC] \|\| Today BTC course 1.00 BTC = 1 331 USD #bitcoin #bitcoinwallet #btc http://fb.me/6tej1tGZ5 \|\| LIVE: Profit = $23,839.93 (7.28 %). BUY B251.29 @ $1,302.00 (#BTCe). SELL @ $1,392.10 (#Bitfinex) #bitcoin #btc - http://www.projectcoin.org \|\| $1328.59 at 05:30 UTC [24h Range: $1299.00 - ...	1347.89, 1421.60, 1452.82, 1490.09, 1537.67, 1555.45, 1578.80, 1596.71, 1723.35, 1755.36
Given the historical Bitcoin prices from the last 90 days, predict the next 10 daily closing prices. The historical prices are: 38436.97, 35697.61, 34616.07, 35678.13, 37332.86, 36684.93, 37575.18, 39208.77, 36894.41, 35551.96, 35862.38, 33560.71, 33472.63, 37345.12, 36702.60, 37334.40, 35552.52, 39097.86, 40218.48, 40406.27, 38347.06, 38053.50, 35787.25, 35615.87, 35698.30, 31676.69, 32505.66, 33723.03, 34662.44, 31637.78, 32186.28, 34649.64, 34434.34, 35867.78, 35040.84, 33572.12, 33897.05, 34668.55, 35287.78, 33746.00, 34235.20, 33855.33, 32877.37, 33798.01, 33520.52, 34240.19, 33155.85, 32702.03, 32822.35, 31780.73, 31421.54, 31533.07, 31796.81, 30817.83, 29807.35, 32110.69, 32313.11, 33581.55, 34292.45, 35350.19, 37337.54, 39406.94, 39995.91, 40008.42, 42235.55, 41626.20, 39974.89, 39201.95, 38152.98, 39747.50, 40869.55, 42816.50, 44555.80, 43798.12, 46365.40, 45585.03, 45593.64, 44428.29, 47793.32, 47096.95, 47047.00, 46004.48, 44695.36, 44801.19, 46717.58, 49339.18, 48905.49, 49321.65, 49546.15, 47706.12.	[Bitcoin Technical Analysis for 2021-08-24] Volume: 35361168834, RSI (14-day): 60.65, 50-day EMA: 42115.68, 200-day EMA: 40030.14 [Wider Market Context] Gold Price: 1805.60, Gold RSI: 56.29 Oil Price: 67.54, Oil RSI: 47.80 [Recent News (last 7 days)] Comparing Dogecoin, Baby Doge and Shiba Inu: Is There One To Watch?: RoamingPanda / Getty Images Bitcoin has been the most popular and well-known cryptocurrency since it literally began the asset class in 2009. However, as speculative fervor has broken out among many markets over the past few years, literally hundreds of new cryptocurrencies have been created, with many skyrocketing in price. Some of these newer cryptos don’t, as of yet, have any discernible value in the blockchain world, and many have whimsical names, such as Dogecoin, Baby Doge and Shiba Inu. Here’s a look at the story behind these three particular cryptos and whether or not they are worth keeping tabs on as an investor. Find Out More: Is the Shiba Inu Coin the Cryptocurrency You Should Be Watching? See: Where Does Cryptocurrency Come From? Dogecoin Dogecoin was initially created as a joke by two software engineers in December 2013, with a Shiba Inu — a breed of hunting dog in Japan — as its mascot. What began as a joke is now a full-fledged, functioning cryptocurrency. In fact, as of Aug. 9, Dogecoin has the fifth-largest market cap of any cryptocurrency at $31 billion. Consider: Dogecoin’s Highs and Lows: Is It Still Worth an Investment? Part of the reason that Dogecoin is so well-known is thanks to the tweets of Tesla CEO Elon Musk. Some market participants have even dubbed Musk the “Dogefather” for his support of the crypto. Yet, Musk is not alone in his support for Dogecoin. Billionaire entrepreneur and “Shark Tank” investor Mark Cuban told CNBC’s “Make It” that Dogecoin is the “strongest” cryptocurrency as a medium of exchange, to which Elon Musk immediately agreed, tweeting, “I’ve been saying this for a while.” All of this combined to spike Dogecoin’s price yet again, rising about 10% in 24 hours. Although investing in any cryptocurrency is a speculation, the former “joke” crypto seems to have staying power. The coin actually exists as a medium of exchange, and it’s got backing from at least two prominent and popular billionaires. More Economy Explained: Ethereum (ETH): What It Is, What It’s Worth and Should You Be Investing? Story continues Baby Doge Baby Doge is another crypto with a fanciful side, as it was designed by the Dogecoin community as the offspring of its “father,” Doge. The crypto’s own website emphasizes its playfulness, as it states that “Baby Doge seeks to impress his father by showing his new improved transaction speeds & adorableness.” Unlike other cryptos, however, Baby Doge isn’t meant to be used as a currency. Rather, owners are incentivized to simply hold on to the coin and hope that it increases in value. While Dogecoin, along with many other cryptos, has no cap on the amount that can be mined, Baby Doge is pre-mined, meaning no more can be created. According to the Baby Doge website, this makes the coin hyper-deflationary and designed to become more scarce over time. Baby Doge holders are rewarded with a 5% fee from every transaction on the Baby Doge network, paid in Baby Doge. An additional 5% of each transaction is retained by the network for liquidity. Read: How To Invest In Cryptocurrency: What You Should Know Before Investing Although Baby Doge references its transaction speeds as a draw for investors, it’s really focused on increasing its price via a six-pronged roadmap. While the supply of Baby Doge is “limited,” that cap sits at a massive 420 quadrillion tokens, part of the reason its current share price is at an unbelievably low $0.000000001464, as of Aug. 23. The idea is that with a share price so low, early adopters will want to hoard massive numbers of tokens in the hopes of an eventual payoff. Take a Look: What Is the Next Big Cryptocurrency To Explode in 2021? Shiba Inu Shiba Inu was originally created as the mascot for Dogecoin, but now it operates as its own token on the Ethereum blockchain. Unlike some cryptos which limit their supply, Shiba Inu acts more like Baby Doge, with a nearly unfathomable circulation of 1 quadrillion coins. Shiba Inu has a similarly low price, at just $0.0000082 as of Aug. 23. One major difference between Baby Doge and Shiba Inu, however, is that Shiba Inu strives to be an Ethereum-based alternative to Dogecoin by supporting an NFT art incubator and other projects on its decentralized exchange known as Shibaswap. Find Out: Why Some Money Experts Believe In Bitcoin and Others Don’t As Shiba Inu serves a workable function and is based on popular and well-known Ethereum, some investors believe that it might have more legs than Baby Doge. However, Shiba Inu is still extremely speculative, and like many altcoins trying to find their place in the crypto universe, a single tweet can create massive price movements up or down. Not surprisingly, Elon Musk is one of the main culprits with Shiba Inu as well; a single tweet from Musk stating, “My Shiba Inu will be named Floki,” was enough to push the Shiba Inu price up 25%. Investors would be wise to tread with caution on this one. More From GOBankingRates Take Our Poll: Are You Actually Spending Your Child Tax Credit Payment? Can You Afford Education in America at These Prices? Here’s How Much You Need To Earn To Be ‘Rich’ in Every State 5 Cities Around the World Experiencing a Housing Market Boom Last updated: Aug. 24, 2021 This article originally appeared on GOBankingRates.com : Comparing Dogecoin, Baby Doge and Shiba Inu: Is There One To Watch? \|\| Comparing Dogecoin, Baby Doge and Shiba Inu: Is There One To Watch?: Bitcoin has been the most popular and well-known cryptocurrency since it literally began the asset class in 2009. However, as speculative fervor has broken out among many markets over the past few years, literally hundreds of new cryptocurrencies have been created, with many skyrocketing in price. Some of these newer cryptos don’t, as of yet, have any discernible value in the blockchain world, and many have whimsical names, such as Dogecoin, Baby Doge and Shiba Inu. Here’s a look at the story behind these three particular cryptos and whether or not they are worth keeping tabs on as an investor. Find Out More:Is the Shiba Inu Coin the Cryptocurrency You Should Be Watching?See:Where Does Cryptocurrency Come From? Dogecoin was initially created as a joke by two software engineers in December 2013, with a Shiba Inu — a breed of hunting dog in Japan— as its mascot.What began as a joke is now a full-fledged, functioning cryptocurrency. In fact, as of Aug. 9, Dogecoin has the fifth-largest market cap of any cryptocurrency at $31 billion. Consider:Dogecoin’s Highs and Lows: Is It Still Worth an Investment? Part of the reason that Dogecoin is so well-known is thanks to the tweets of Tesla CEO Elon Musk. Some market participants have even dubbed Musk the “Dogefather” for his support of the crypto.Yet, Musk is not alone in his support for Dogecoin. Billionaire entrepreneur and “Shark Tank” investor Mark Cuban told CNBC’s “Make It” that Dogecoin is the “strongest” cryptocurrency as a medium of exchange,to which Elon Musk immediately agreed, tweeting, “I’ve been saying this for a while.”All of this combined to spike Dogecoin’s price yet again, rising about 10% in 24 hours. Although investing in any cryptocurrency is a speculation, the former “joke” crypto seems to have staying power. The coin actually exists as a medium of exchange, and it’s got backing from at least two prominent and popular billionaires. More Economy Explained:Ethereum (ETH): What It Is, What It’s Worth and Should You Be Investing? Baby Doge is another crypto with a fanciful side, as it was designed by the Dogecoin community as the offspring of its “father,” Doge. The crypto’s own website emphasizes its playfulness, as it states that “Baby Doge seeks to impress his father by showing his new improved transaction speeds & adorableness.” Unlike other cryptos, however, Baby Doge isn’t meant to be used as a currency. Rather, owners are incentivized to simply hold on to the coin and hope that it increases in value. While Dogecoin, along with many other cryptos, has no cap on the amount that can be mined, Baby Doge is pre-mined, meaning no more can be created.According to the Baby Doge website, this makes the coin hyper-deflationary and designed to become more scarce over time. Baby Doge holders are rewarded with a 5% fee from every transaction on the Baby Doge network, paid in Baby Doge.An additional 5% of each transaction is retained by the network for liquidity. Read:How To Invest In Cryptocurrency: What You Should Know Before Investing Although Baby Doge references its transaction speeds as a draw for investors, it’s really focused on increasing its price via a six-pronged roadmap.While the supply of Baby Doge is “limited,” that cap sits at a massive 420 quadrillion tokens,part of the reason its current share price is at an unbelievably low $0.000000001464, as of Aug. 23.The idea is that with a share price so low, early adopters will want to hoard massive numbers of tokens in the hopes of an eventual payoff. Take a Look:What Is the Next Big Cryptocurrency To Explode in 2021? Shiba Inu was originally created as the mascot for Dogecoin, but now it operates as its own token on the Ethereum blockchain. Unlike some cryptos which limit their supply, Shiba Inu acts more like Baby Doge, with a nearly unfathomable circulation of 1 quadrillion coins.Shiba Inu has a similarly low price, at just $0.0000082 as of Aug. 23.One major difference between Baby Doge and Shiba Inu, however, is that Shiba Inu strives to be an Ethereum-based alternative to Dogecoin by supporting an NFT art incubator and other projects on its decentralized exchange known as Shibaswap. Find Out:Why Some Money Experts Believe In Bitcoin and Others Don’t As Shiba Inu serves a workable function and is based on popular and well-known Ethereum, some investors believe that it might have more legs than Baby Doge. However, Shiba Inu is still extremely speculative, and like many altcoins trying to find their place in the crypto universe, a single tweet can create massive price movements up or down. Not surprisingly, Elon Musk is one of the main culprits with Shiba Inu as well; a single tweet from Musk stating, “My Shiba Inu will be named Floki,” was enough to push the Shiba Inu price up 25%.Investors would be wise to tread with caution on this one. More From GOBankingRates • Take Our Poll: Are You Actually Spending Your Child Tax Credit Payment? • Can You Afford Education in America at These Prices? • Here’s How Much You Need To Earn To Be ‘Rich’ in Every State • 5 Cities Around the World Experiencing a Housing Market Boom Last updated: Aug. 24, 2021 This article originally appeared onGOBankingRates.com:Comparing Dogecoin, Baby Doge and Shiba Inu: Is There One To Watch? \|\| Robinhood’s Lessons For ETF Issuers: [ETF Pulse appears Mondays and Thursdays. Drew Voros is Editor-in-Chief of ETF.com.] “At the end of the day, I fight for those who cannot fight for themselves. If that makes me an outlaw, so be it. I’ve been called worse.” — Robin Hood, circa 1400 England lore Robinhood, the merry ole Nottingham-named brokerage firm that just went public is now worth $48 billion of Wall Street lunch money. There was no theft, just chump change left on the sidewalk, because Wall Street didn’t want to bother to stoop down to pick up the nickels and dimes. Vladimir Tenev and Baiju Bhatt founded Robinhood in 2013, thinking they might be able to scoop up those nickels and dimes left by retail investors by offering free commissions and no minimum deposits. So the very non-Wall Street Dynamic Duo easily walked right through the open castle gates, bringing neglected and dismissed retail traders and do-it-yourself investors who don’t consider a financial advisor … until they need tax and family estate planning from their well-researched trades and portfolio management you can learn at home. Ignore Retail At Your Peril The little startup from Menlo Park, 3,000 miles away from Wall Street, slowly kicked and crawled its way onto the radar of retail investors. It was a slow move onto those radars in the early years, but suddenly, eight years later, the firm has gone from a Silicon Valley pipedream to a $48 billion brokerage that’s disrupting the Old Guard gravy train, much like ETFs have done to mutual funds. Robinhood’s success simply lay in providing easy and free access to the financial markets to retail investors with no trading dollar minimums or costs, and all the ETFs you would like—even cryptocurrencies, because that’s what the people want. That’s something the Old Guard had seemingly no interest in doing, until recently, or until when Robinhood sprang into action in 2013. The idea of free commissions across the board for retail investors seemed fantastical back then, but hardly so today. Story continues The dismantling of the fixed trading commissions of the pre-1975 era unleashed the beginning of the “race to zero” for trading commissions. But there was no race to zero by the Old Guard on Wall Street. It was more like a slow shuffle, pushed mostly by Charles Schwab, which went public as a brokerage 44 years ago, followed by E-Trade and TD Ameritrade. E-Trade and the likes of TD Ameritrade, which now owns Scottrade, were haplessly labeled at the time as the new threat to the Wall Street Gravy Train. In reality, these disruptors were bringing a knife to a gunfight. Pre-2000, the commoner couldn’t access trading without paying something, no matter your online savvy or access. The Lords of Wall Street were still collecting a tidy sum. A $50 commission to trade online back in the day was a steal. Today it’s highway robbery. Old Wall Street Invented Order Flow Payments Robinhood customers’ trade order flow is the main source of revenue for the firm. Market makers arbitrage your trade. Scary? It shouldn't be. Wall Street invented that—with worse intentions than free commissions. But that’s been acceptable, and for the most part, an understood trade-off for Robinhood clients for zero commissions and tight trading spreads. And unlike most of Wall Street brokerages, Robinhood has been clear as day that it is paid for its trading order flow. The Old Guard invented payment flow to enhance the revenue stream from high commissions and fees for transferring your money to the brokerage and back. It just kept that revenue stream buried among the other brokerage skeletons. Overlooking The Trees One of the oddest wrinkles of the ETF industry—and particularly on the issuer side—is a steady beat of aversion away from retail investors. While marketing and focusing on the advisors and wealth managers, the ETF issuers are ignoring the trees in the forest. We hear it on our side of the ETF media business: “ We don’t want any retail, just advisors ” for online events, which sometimes make sense, but is always underestimation of the biggest leg of growth currently carrying the ETF industry. Today you can’t paint “retail investors” with any kind of broad brushstroke. They range in size from the kids on Robinhood to the Apple software engineers who are do-it-yourself multimillionaire investors from their company stocks and 401(k)s that they don’t touch. “I think that the heavily indexed or benchmark approach to investing is ripe for change and I think that the retail investor, the individual investor, is actually leading the charge,” said Cathie Wood, Founder and CEO of Ark Invest, during the Cboe Exchanging Perspectives webinar back in March and reported on by CNBC . Compliance Jitters Blur Adaptation We don’t outlaw guns because people shoot themselves accidentally or not. The long lines for lottery tickets never put anybody upon a wall of worry that Americans dump some $100 billion a year in U.S. lottery sales. Maybe that’s because the state governments sell those tickets. The fear of compliance and ignorant investors wandering into big losses is what I think is at the heart of why ETF issuers and much of Wall Street restrict marketing, advertising—and more importantly, product education to blue collar investors. Unintended consequences of the “retail not welcome at our products” is that these investors simply find somewhere to invest, like Bitcoin, NBA Top Shot, NFT artwork, etc. More alternative, non-Wall Street investment products are being created every day. When fools—big or small—and their money part ways, there is the assumption that something is wrong with the ETF product. That’s rarely the case. The products functioned properly. The investor didn’t know how to use the financial tool properly and got hurt—advisor, broker or DIY operator error, more likely. Waking The Old Guard Robinhood reached way back in history for its startup name. The disruptors of Nottingham Forest in circa 14 th century are waking the Old Guard from its nap. For ETF issuers, the retail crowd seems to be a love-them-or-leave-them affair. Many issuers like ARK do acknowledge and seek the retail investors. And there are plenty of others such as ETF Managers Group, with its marijuana ETFMG Alternative Harvest ETF (MJ) , topping $1.2 billion in assets under management; Roundhill Investments with its Roundhill Sports Betting & iGaming ETF (BETZ) with nearly $400 million in AUM in a little more than a year; and sleeper ETF hit of 2020, the U.S. Global Jets ETF (JETS) from U.S. Global Investors, which saw its AUM jump from $40 million in February 2020 to $3.2 billion, fueled by social media platforms like TikTok and YouTube. If nothing else, ETF issuers with an aversion to the retail crowd need to study that class of investors more closely. They’re smarter than you may think. Drew Voros can be reached at [email protected] Recommended Stories Broad Vs Narrow Thematic ETFs ARK Shifts Gears In New ETF Filing ARK Shifts Gears In New ETF Filing Hot Reads: Should Bogleheads Invest In Crypto? Permalink \| © Copyright 2021 ETF.com. All rights reserved \|\| Robinhood’s Lessons For ETF Issuers: [ETF Pulse appears Mondays and Thursdays. Drew Voros is Editor-in-Chief of ETF.com.] “At the end of the day, I fight for those who cannot fight for themselves. If that makes me an outlaw, so be it. I’ve been called worse.” —Robin Hood, circa 1400 England lore Robinhood, the merry ole Nottingham-named brokerage firm that just went public is now worth $48 billion of Wall Street lunch money. There was no theft, just chump change left on the sidewalk, because Wall Street didn’t want to bother to stoop down to pick up the nickels and dimes. Vladimir Tenev and Baiju Bhatt founded Robinhood in 2013, thinking they might be able to scoop up those nickels and dimes left by retail investors by offering free commissions and no minimum deposits. So the very non-Wall Street Dynamic Duo easily walked right through the open castle gates, bringing neglected and dismissed retail traders and do-it-yourself investors who don’t consider a financial advisor … until they need tax and family estate planning from their well-researched trades and portfolio management you can learn at home. Ignore Retail At Your Peril The little startup from Menlo Park, 3,000 miles away from Wall Street, slowly kicked and crawled its way onto the radar of retail investors. It was a slow move onto those radars in the early years, but suddenly, eight years later, the firm has gone from a Silicon Valley pipedream to a $48 billion brokerage that’s disrupting the Old Guard gravy train, much like ETFs have done to mutual funds. Robinhood’s success simply lay in providing easy and free access to the financial markets to retail investors with no trading dollar minimums or costs, and all the ETFs you would like—even cryptocurrencies, because that’s what the people want. That’s something the Old Guard had seemingly no interest in doing, until recently, or until when Robinhood sprang into action in 2013. The idea of free commissions across the board for retail investors seemed fantastical back then, but hardly so today. The dismantling of the fixed trading commissions of the pre-1975 era unleashed the beginning of the “race to zero” for trading commissions. But there was noraceto zero by the Old Guard on Wall Street. It was more like a slow shuffle, pushed mostly by Charles Schwab, which went public as a brokerage 44 years ago, followed by E-Trade and TD Ameritrade. E-Trade and the likes of TD Ameritrade, which now owns Scottrade, were haplessly labeled at the time as the new threat to the Wall Street Gravy Train. In reality, these disruptors were bringing a knife to a gunfight. Pre-2000, the commoner couldn’t access trading without paying something, no matter your online savvy or access. The Lords of Wall Street were still collecting a tidy sum. A $50 commission to trade online back in the day was a steal. Today it’s highway robbery. Old Wall Street Invented Order Flow Payments Robinhood customers’ trade order flow is the main source of revenue for the firm. Market makers arbitrage your trade. Scary? It shouldn't be. Wall Street invented that—with worse intentions than free commissions. But that’s been acceptable, and for the most part, an understood trade-off for Robinhood clients for zero commissions and tight trading spreads. And unlike most of Wall Street brokerages, Robinhood has been clear as day that it is paid for its trading order flow. The Old Guard invented payment flow to enhance the revenue stream from high commissions and fees for transferring your money to the brokerage and back. It just kept that revenue stream buried among the other brokerage skeletons. Overlooking The Trees One of the oddest wrinkles of the ETF industry—and particularly on the issuer side—is a steady beat of aversion away from retail investors. While marketing and focusing on the advisors and wealth managers, the ETF issuers are ignoring the trees in the forest. We hear it on our side of the ETF media business: “We don’t want any retail, just advisors” for online events, which sometimes make sense, but is always underestimation of the biggest leg of growth currently carrying the ETF industry. Today you can’t paint “retail investors” with any kind of broad brushstroke. They range in size from the kids on Robinhood to the Apple software engineers who are do-it-yourself multimillionaire investors from their company stocks and 401(k)s that they don’t touch. “I think that the heavily indexed or benchmark approach to investing is ripe for change and I think that the retail investor, the individual investor, is actually leading the charge,”said Cathie Wood, Founder and CEO of Ark Invest, during the Cboe Exchanging Perspectives webinar back in Marchand reported on by CNBC. Compliance Jitters Blur Adaptation We don’t outlaw guns because people shoot themselves accidentally or not. The long lines for lottery tickets never put anybody upon a wall of worry that Americans dump some $100 billion a year in U.S. lottery sales. Maybe that’s because the state governments sell those tickets. The fear of compliance and ignorant investors wandering into big losses is what I think is at the heart of why ETF issuers and much of Wall Street restrict marketing, advertising—and more importantly, product education to blue collar investors. Unintended consequences of the “retail not welcome at our products” is that these investors simply find somewhere to invest, like Bitcoin, NBA Top Shot, NFT artwork, etc. More alternative, non-Wall Street investment products are being created every day. When fools—big or small—and their money part ways, there is the assumption that something is wrong with the ETF product. That’s rarely the case. The products functioned properly. The investor didn’t know how to use the financial tool properly and got hurt—advisor, broker or DIY operator error, more likely. Waking The Old Guard Robinhood reached way back in history for its startup name. The disruptors of Nottingham Forest in circa 14thcentury are waking the Old Guard from its nap. For ETF issuers, the retail crowd seems to be a love-them-or-leave-them affair. Many issuers like ARK do acknowledge and seek the retail investors. And there are plenty of others such as ETF Managers Group, with its marijuanaETFMG Alternative Harvest ETF (MJ), topping $1.2 billion in assets under management; Roundhill Investments with itsRoundhill Sports Betting & iGaming ETF (BETZ)with nearly $400 million in AUM in a little more than a year; and sleeper ETF hit of 2020, theU.S. Global Jets ETF (JETS)from U.S. Global Investors, which saw its AUM jump from $40 million in February 2020 to $3.2 billion, fueled by social media platforms like TikTok and YouTube. If nothing else, ETF issuers with an aversion to the retail crowd need to study that class of investors more closely. They’re smarter than you may think. Drew Voros can be reached [email protected] Recommended Stories • Broad Vs Narrow Thematic ETFs • ARK Shifts Gears In New ETF Filing • ARK Shifts Gears In New ETF Filing • Hot Reads: Should Bogleheads Invest In Crypto? Permalink\| © Copyright 2021ETF.com.All rights reserved \|\| Why Former Veteran NYSE Floor Trader Bought Shares of NVIDIA, Alibaba and Facebook on Monday: Veteran trader David Green was backlive trading on Benzinga Monday morning, and the long-time trader made some moves in some big-name stocks such asNVIDIA Corporation(NASDAQ:NVDA),Facebook Inc(NASDAQ:FB) andAlibaba Group Holding Ltd(NYSE:BABA). NVIDIA’s stock opened up at $210.50 a share. The stock quickly rose to nearly $216 in the first 45 minutes of trading. Someone in Green’s private trading room asked him what he thought about shorting the stock after it rose so quickly. “NVIDIA is a better buy,” Green said. “Let’s get a bid out in NVIDIA. I’d rather make money than trying to make a few bucks trying to short one of these stocks.” Live Trading With David Greenis a morning trading show in which David live trades the open on Benzinga. The show airs Monday-Wednesday at 9:25 am ET on BenzingaTV. Stocks Discussed On The Show Facebook opened down slightly from Friday’s close, just under $360 a share. The stock quickly rose up to the $364 level, and Green pointed out the strength in the stock. Green put out orders to buy Facebook at $361.70. Alibaba’s stock opened up from Friday’s close at $159 a share, and then quickly dropped down to near the $153 level. Green pointed out the weakness in Alibaba’s chart, but that it could be a good trade if the stock showed signs of reversal. Green put an order out to buy 100 shares of Alibaba at $152. Green mostly executes quick day trades, both on the long and short side. When a stock hits one of his pivot points he initiates a buy order with a tight stop loss. Watch the full episode in the clip below, orclick here to watch. About The Show: Benzinga’s Wall Street Global Trading Academy follows Wall Street Veteran David Green as he live trades at the market open breaks down what he is trading today. The show streams live Monday-Wednesday at 9:25 am ET onBenzinga's Youtube,Twitter, andTwitch. About The Host David Green is a 30-year veteran of Wall Street, including 13 years as a specialist on the floor of the New York Stock Exchange. Since retiring from the floor, Green spends his time helping retail traders. Green built a full-fledged trading course, Wallstreet Global Trading Academy, with fellow floor trader Peter Tuchman. To learn more about the course,click hereor follow it onFacebook. See more from Benzinga • Click here for options trades from Benzinga • Cade Cunningham Signs Endorsement Deal With BlockFi, Takes Signing Bonus In Bitcoin • This Shoe Store Company Has A Better One-Year Return Than Amazon, Apple, Disney, Microsoft, Netflix, PayPal and Tesla © 2021 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. \|\| Why Former Veteran NYSE Floor Trader Bought Shares of NVIDIA, Alibaba and Facebook on Monday: Veteran trader David Green was back live trading on Benzinga Monday morning , and the long-time trader made some moves in some big-name stocks such as NVIDIA Corporation (NASDAQ: NVDA ), Facebook Inc (NASDAQ: FB ) and Alibaba Group Holding Ltd (NYSE: BABA ). NVIDIA’s stock opened up at $210.50 a share. The stock quickly rose to nearly $216 in the first 45 minutes of trading. Someone in Green’s private trading room asked him what he thought about shorting the stock after it rose so quickly. “NVIDIA is a better buy,” Green said. “Let’s get a bid out in NVIDIA. I’d rather make money than trying to make a few bucks trying to short one of these stocks.” Live Trading With David Green is a morning trading show in which David live trades the open on Benzinga. The show airs Monday-Wednesday at 9:25 am ET on BenzingaTV. Stocks Discussed On The Show Facebook opened down slightly from Friday’s close, just under $360 a share. The stock quickly rose up to the $364 level, and Green pointed out the strength in the stock. Green put out orders to buy Facebook at $361.70. Alibaba’s stock opened up from Friday’s close at $159 a share, and then quickly dropped down to near the $153 level. Green pointed out the weakness in Alibaba’s chart, but that it could be a good trade if the stock showed signs of reversal. Green put an order out to buy 100 shares of Alibaba at $152. Green mostly executes quick day trades, both on the long and short side. When a stock hits one of his pivot points he initiates a buy order with a tight stop loss. Watch the full episode in the clip below, or click here to watch . About The Show: Benzinga’s Wall Street Global Trading Academy follows Wall Street Veteran David Green as he live trades at the market open breaks down what he is trading today. The show streams live Monday-Wednesday at 9:25 am ET on Benzinga's Youtube , Twitter , and Twitch . Story continues About The Host David Green is a 30-year veteran of Wall Street, including 13 years as a specialist on the floor of the New York Stock Exchange. Since retiring from the floor, Green spends his time helping retail traders. Green built a full-fledged trading course, Wallstreet Global Trading Academy, with fellow floor trader Peter Tuchman. To learn more about the course, click here or follow it on Facebook . See more from Benzinga Click here for options trades from Benzinga Cade Cunningham Signs Endorsement Deal With BlockFi, Takes Signing Bonus In Bitcoin This Shoe Store Company Has A Better One-Year Return Than Amazon, Apple, Disney, Microsoft, Netflix, PayPal and Tesla © 2021 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. \|\| CryptoPunk NFTs Break Sales Record as Visa Sparks Buying Frenzy: Sales of CryptoPunk non-fungible tokens (NFTs) are soaring to record levels, another sign of just how frenzied the market has become as credit-card giant Visa jumps into the fray. On Monday, sales volumes of CryptoPunks topped $86 million, a daily record, according to data from the industry tracking website CryptoSlam . And sales so far in August have already reached $332 million. Prior to August, the largest single monthly sales total was $135.2 million during July. This month’s average price for a CryptoPunk is $199,069, more than double last month’s average. Related: Christie’s Exec’s NFT Platform TR Lab Plans Artwork Drop by Cai Guo-Qiang The market is so hot that Visa apparently had to pay up for its CryptoPunk purchase, announced Monday. According to CryptoPunks creator Larva Labs, the NFT that Visa bought – CryptoPunk #7610 – was acquired for a price of 49.50 ether , which works out to about $150,000. That’s more than double the price of 21.75 ETH paid less than a month ago by a user named “gmoney.” “We think NFTs will play an important role in the future of retail, social media, entertainment and commerce,” said Visa’s head of crypto, Cuy Sheffield, in a blog post on Monday. It’s unclear if the surge in CryptoPunk sales was directly the result of Visa’s vote of confidence, but more than 300 transactions took place Monday alone, versus a range of 16 to 184 over the past month, according to data from CryptoSlam . Visa’s move, “largely a PR exercise more than anything else, not only demonstrates how the underlying infrastructure of digital assets has improved over the years but also how quickly these assets can go mainstream,” said Denis Vinokourov, head of research at Synergia Capital. Related: Visa Buys a Punk as Bitcoin Returns to $50K The ability to facilitate transactions and custody assets using Anchorage (a crypto exchange platform used by institutional investors), shows the willingness of traditional finance giants to adapt, he said. Story continues “It will also likely further serve to boost the value of NFT marketplaces going forward as a whole,” said Vinokourov. Related Stories Why Did Visa Buy a $150K NFT? Why Does Anyone? Visa Takes First Step Into NFTs With CryptoPunk Purchase for Almost $150K \|\| CryptoPunk NFTs Break Sales Record as Visa Sparks Buying Frenzy: Sales of CryptoPunk non-fungible tokens (NFTs) are soaring to record levels, another sign of just how frenzied the market has become as credit-card giant Visajumpsinto the fray. On Monday, sales volumes of CryptoPunks topped $86 million, a daily record, according to data from the industry tracking websiteCryptoSlam. And sales so far in August have already reached $332 million. Prior to August, the largest single monthly sales total was $135.2 million during July. This month’s average price for a CryptoPunk is $199,069, more than double last month’s average. Related:Christie’s Exec’s NFT Platform TR Lab Plans Artwork Drop by Cai Guo-Qiang The market is so hot that Visa apparently had to pay up for its CryptoPunk purchase, announced Monday. According to CryptoPunks creator Larva Labs, the NFT that Visabought– CryptoPunk #7610 – was acquired for a price of 49.50ether, which works out to about $150,000. That’s more than double the price of 21.75 ETH paidless than a month agoby a user named “gmoney.” “We think NFTs will play an important role in the future of retail, social media, entertainment and commerce,” said Visa’s head of crypto, Cuy Sheffield, in ablog poston Monday. It’s unclear if the surge in CryptoPunk sales was directly the result of Visa’s vote of confidence, but more than 300 transactions took place Monday alone, versus a range of 16 to 184 over the past month, according to data fromCryptoSlam. Visa’s move, “largely a PR exercise more than anything else, not only demonstrates how the underlying infrastructure of digital assets has improved over the years but also how quickly these assets can go mainstream,” said Denis Vinokourov, head of research at Synergia Capital. Related:Visa Buys a Punk as Bitcoin Returns to $50K The ability to facilitate transactions and custody assets using Anchorage (a crypto exchange platform used by institutional investors), shows the willingness of traditional finance giants to adapt, he said. “It will also likely further serve to boost the value of NFT marketplaces going forward as a whole,” said Vinokourov. • Why Did Visa Buy a $150K NFT? Why Does Anyone? • Visa Takes First Step Into NFTs With CryptoPunk Purchase for Almost $150K \|\| Riot Blockchain Reports Record Q2 Results: Bitcoin mining company Riot Blockchain reported revenue rose to a record $34.3 million in the second quarter, up from just $1.9 million in the year-ago quarter. Net income came in at 22 cents per share versus a loss of 31 cents a share in the second quarter of 2020. Analysts had been expecting revenues of $32.6 million for the quarter and adjusted earnings per share of one cent. Riot shares were rising 2.4% to $36.58 in after-hours trading Monday following the release of the results. They rose over 4% during the day as bitcoin prices rose above $50,000 earlier in the day for the first time in three months. Shares are up almost 117% year to date. Riot closed the acquisition of Whinstone in the quarter, helping create one of the largest hosting and mining companies in North America as measured by developed and future capacity. Earlier this month, Riot forecast that its new facility in Texas will lift its total hashrate capacity to 7.7 EH/s by the fourth quarter of 2022. Recent Securities and Exchange Commission filings revealed that asset management giant BlackRock owned a 6.6% stake in Riot, as well as a 6.7% stake in rival miner Marathon Digital, as of the end of the second quarter. Together, BlackRock’s stakes in the two companies amounted to almost $400 million. UPDATE (August 23, 20:55 UTC): Added information about Whinstone in the third bullet point. Related Stories Cuando China habló, bitcoin reaccionó. ¿Cuando lo hizo Estados Unidos? No tanto Crypto Long & Short: When China Spoke, Bitcoin Reacted. America? Not So Much Market Wrap: Bitcoin Rallies Ahead of $50K Resistance BlackRock Has Almost $400M Invested in Bitcoin Mining Stocks: Report \|\| Riot Blockchain Reports Record Q2 Results: Bitcoin mining company Riot Blockchain reported revenue rose to a record $34.3 million in the second quarter, up from just $1.9 million in the year-ago quarter. Net income came in at 22 cents per share versus a loss of 31 cents a share in the second quarter of 2020. • Analysts had been expecting revenues of $32.6 million for the quarter and adjusted earnings per share of one cent. • Riot shares were rising 2.4% to $36.58 in after-hours trading Monday following the release of the results. They rose over 4% during the day asbitcoinprices rose above $50,000 earlier in the day for the first time in three months. Shares are up almost 117% year to date. • Riot closed the acquisition of Whinstone in the quarter, helping create one of the largest hosting and mining companies in North America as measured by developed and future capacity. • Earlier this month, Riotforecastthat its new facility in Texas will lift its total hashrate capacity to 7.7 EH/s by the fourth quarter of 2022. • Recent Securities and Exchange Commission filings revealed that asset management giant BlackRockowneda 6.6% stake in Riot, as well as a 6.7% stake in rival miner Marathon Digital, as of the end of the second quarter. Together, BlackRock’s stakes in the two companies amounted to almost $400 million. UPDATE (August 23, 20:55 UTC):Added information about Whinstone in the third bullet point. • Cuando China habló, bitcoin reaccionó. ¿Cuando lo hizo Estados Unidos? No tanto • Crypto Long & Short: When China Spoke, Bitcoin Reacted. America? Not So Much • Market Wrap: Bitcoin Rallies Ahead of $50K Resistance • BlackRock Has Almost $400M Invested in Bitcoin Mining Stocks: Report \|\| Stock Market Today: S 500, Nasdaq Hit Record Highs on Pfizer Vaccine Approval: Vial of Pfizer-BioNTech COVID-19 vaccine Getty Images The bulls came out Monday as the nation's fight against COVID-19 took a significant step. The U.S. Food and Drug Administration today gave its full approval to the COVID-19 vaccine manufactured by Pfizer ( PFE , +2.5%) and Germany's BioNTech ( BNTX , +9.6%), making it the first shot to receive the designation. More than 200 million doses of the drug, which will now be marketed as Comirnaty, have already been administered under the FDA's emergency-use authorization. SEE MORE 7 Impressive International Stocks Set to Fly "Considering the recent spike in cases and some of the disappointing economic data, this is another step in the right direction," says Ryan Detrick, chief market strategist for LPL Financial, "and it helps give confidence to those who might still be holding out on getting the vaccine." "To the extent that the general public becomes more comfortable living with the virus – either because of increased vaccinations or natural immunity from recovered infections – the economy is likely to continue on its upward trajectory," says Chris Zaccarelli, chief investment officer for Independent Advisor Alliance. "The economic recovery is what is driving corporate earnings and the stock market to all-time highs, and we expect that to continue through 2021 and into 2022." The energy sector (+3.8%) led the way, as U.S. crude oil futures snapped a seven-day losing streak with a 5.6% jump to $65.64 per barrel. Sign up for Kiplinger's FREE Investing Weekly e-letter for stock, ETF and mutual fund recommendations, and other investing advice. The Nasdaq Composite soared 1.6% higher to a record close of 14,942, putting it within reach of the nice, round 15,000 level. The S&P 500 also notched a record high, gaining 0.9% to 4,479. And the Dow Jones Industrial Average closed up 0.6% to 35,335. SEE MORE 7 Sizzling Semiconductor Stocks to Buy Other news in the stock market today: The small-cap Russell 2000 advanced 1.9% to 2,208. Robinhood ( HOOD , +6.2%) was a notable mover on Wall Street today after a number of analysts weighed in on the investing platform. Among them was Mizuho Securities analyst Dan Dolev, who initiated coverage with a Buy rating and a $68 price target. "With its 22.5 million active users and fetching 50% of all new retail U.S. accounts, we view Robinhood not as a meme stock phenomenon, but as a singularity that captures Generation Z's zeitgeist," Dolev says. Shares of Tesla ( TSLA , +3.8%) also moved higher on the back of some analyst attention. In the wake of TSLA's artificial intelligence (AI) day last week, Deutsche Bank analyst Emmanuel Rosner reiterated his Buy rating on the electric vehicle (EV) maker. "We came away with greater appreciation for Tesla’s efforts in AI," Rosner says. "Tesla outlined a very ambitious effort to develop a high performance neural network with very scalable underlying compute and accurate+fast data labeling." Rosner believes this platform "could be sold 'as a service' to other machine learning (ML) use cases." Gold futures jumped 1.3% to settle at $1,806.30 an ounce as the U.S. dollar cooled. The CBOE Volatility Index (VIX) declined 7.9% to 17.09. Earlier this morning, Bitcoin prices eclipsed $50,000 for the first time since May. They retreated a bit to $49,297.32 by the afternoon, up 1.3% from Friday. (Bitcoin trades 24 hours a day; prices reported here are as of 4 p.m. each trading day.) Story continues stock chart for 082321 Getty Images Vaccine Winners and Losers As energy demonstrated, some sectors are more warmly greeting Monday's FDA decision than others. SEE MORE 11 Stocks Warren Buffett Is Selling (And 3 He's Buying) Chris Zaccarelli, chief investment officer for Independent Advisor Alliance, notes that defensive sectors such as utilities (-1.3%) and consumer staples (-0.3%) are likely to underperform if the market's reopening trade continues; on Monday, at least, that was the case. So what looks appealing? Consumer discretionary stocks (and retail companies in particular) are "likely to benefit from this announcement because increased consumer confidence as a result of additional vaccinations should lead to higher sales at those companies," he says. Indeed, discretionaries (+1.3%) were one of the session's best sectors. Looking outside any one particular area of the market, our 21 best stocks to buy for the rest of 2021 were largely selected for their ability to benefit from continued rejuvenation in the U.S. economy. That's based on ongoing progress against the virus, sure – but also on spending elsewhere in the economy, be it a Washington plan for infrastructure, or corporate America upgrading its technological tools. Kyle Woodley was long TSLA as of this writing. SEE MORE 7 5G Stocks With More Catalysts Than 5G You may also like Your Guide to Roth Conversions Strategies to Deal with Potential Capital Gains Tax Increases 6 Small-Cap Dividend Stocks to Buy Now \|\| Stock Market Today: S 500, Nasdaq Hit Record Highs on Pfizer Vaccine Approval: Vial of Pfizer-BioNTech COVID-19 vaccine Getty Images The bulls came out Monday as the nation's fight against COVID-19 took a significant step. The U.S. Food and Drug Administration today gave its full approval to the COVID-19 vaccine manufactured by Pfizer ( PFE , +2.5%) and Germany's BioNTech ( BNTX , +9.6%), making it the first shot to receive the designation. More than 200 million doses of the drug, which will now be marketed as Comirnaty, have already been administered under the FDA's emergency-use authorization. SEE MORE 7 Impressive International Stocks Set to Fly "Considering the recent spike in cases and some of the disappointing economic data, this is another step in the right direction," says Ryan Detrick, chief market strategist for LPL Financial, "and it helps give confidence to those who might still be holding out on getting the vaccine." "To the extent that the general public becomes more comfortable living with the virus – either because of increased vaccinations or natural immunity from recovered infections – the economy is likely to continue on its upward trajectory," says Chris Zaccarelli, chief investment officer for Independent Advisor Alliance. "The economic recovery is what is driving corporate earnings and the stock market to all-time highs, and we expect that to continue through 2021 and into 2022." The energy sector (+3.8%) led the way, as U.S. crude oil futures snapped a seven-day losing streak with a 5.6% jump to $65.64 per barrel. Sign up for Kiplinger's FREE Investing Weekly e-letter for stock, ETF and mutual fund recommendations, and other investing advice. The Nasdaq Composite soared 1.6% higher to a record close of 14,942, putting it within reach of the nice, round 15,000 level. The S&P 500 also notched a record high, gaining 0.9% to 4,479. And the Dow Jones Industrial Average closed up 0.6% to 35,335. SEE MORE 7 Sizzling Semiconductor Stocks to Buy Other news in the stock market today: The small-cap Russell 2000 advanced 1.9% to 2,208. Robinhood ( HOOD , +6.2%) was a notable mover on Wall Street today after a number of analysts weighed in on the investing platform. Among them was Mizuho Securities analyst Dan Dolev, who initiated coverage with a Buy rating and a $68 price target. "With its 22.5 million active users and fetching 50% of all new retail U.S. accounts, we view Robinhood not as a meme stock phenomenon, but as a singularity that captures Generation Z's zeitgeist," Dolev says. Shares of Tesla ( TSLA , +3.8%) also moved higher on the back of some analyst attention. In the wake of TSLA's artificial intelligence (AI) day last week, Deutsche Bank analyst Emmanuel Rosner reiterated his Buy rating on the electric vehicle (EV) maker. "We came away with greater appreciation for Tesla’s efforts in AI," Rosner says. "Tesla outlined a very ambitious effort to develop a high performance neural network with very scalable underlying compute and accurate+fast data labeling." Rosner believes this platform "could be sold 'as a service' to other machine learning (ML) use cases." Gold futures jumped 1.3% to settle at $1,806.30 an ounce as the U.S. dollar cooled. The CBOE Volatility Index (VIX) declined 7.9% to 17.09. Earlier this morning, Bitcoin prices eclipsed $50,000 for the first time since May. They retreated a bit to $49,297.32 by the afternoon, up 1.3% from Friday. (Bitcoin trades 24 hours a day; prices reported here are as of 4 p.m. each trading day.) Story continues stock chart for 082321 Getty Images Vaccine Winners and Losers As energy demonstrated, some sectors are more warmly greeting Monday's FDA decision than others. SEE MORE 11 Stocks Warren Buffett Is Selling (And 3 He's Buying) Chris Zaccarelli, chief investment officer for Independent Advisor Alliance, notes that defensive sectors such as utilities (-1.3%) and consumer staples (-0.3%) are likely to underperform if the market's reopening trade continues; on Monday, at least, that was the case. So what looks appealing? Consumer discretionary stocks (and retail companies in particular) are "likely to benefit from this announcement because increased consumer confidence as a result of additional vaccinations should lead to higher sales at those companies," he says. Indeed, discretionaries (+1.3%) were one of the session's best sectors. Looking outside any one particular area of the market, our 21 best stocks to buy for the rest of 2021 were largely selected for their ability to benefit from continued rejuvenation in the U.S. economy. That's based on ongoing progress against the virus, sure – but also on spending elsewhere in the economy, be it a Washington plan for infrastructure, or corporate America upgrading its technological tools. Kyle Woodley was long TSLA as of this writing. SEE MORE 7 5G Stocks With More Catalysts Than 5G You may also like Your Guide to Roth Conversions Strategies to Deal with Potential Capital Gains Tax Increases 6 Small-Cap Dividend Stocks to Buy Now \|\| Market Wrap: Bitcoin Stalls Near $50K Ahead of Options Expiration Date: Bitcoin stalled after approaching the $50,000 resistance level on Monday. The cryptocurrency was trading at about $49,500 at press time and is up about 8% over the past week. Analysts expect a period of consolidation ahead of Friday’s option expiration date and news from the Federal Reserve’s annual economic policy symposium in Jackson Hole, Wyo. “The trend is bullish; however, caution is to be exercised at these levels due to the decline in volume as well as resistance from April and May,” Marcus Sotiriou, a trader at GlobalBlock , wrote in an email to CoinDesk. “$51K would be a natural place for a short-term pause in the rally,” Katie Stockton, managing director of Fairlead Strategies , wrote in a Monday newsletter. Related: Should You Invest in Bitcoin for Retirement? “Long-term momentum behind bitcoin has strengthened and the 200-day (40-week) moving average is rising again, supporting a bullish long-term outlook,” she wrote. Latest prices Cryptocurrencies: Bitcoin (BTC) $49218, +1.14% Ether (ETH) $3303, +4.25% Traditional markets: S&P 500: 4479.5, +0.85% Gold: $1803, +0.57% 10-year Treasury yield closed at 1.251%, compared with 1.261% on Friday Several analysts noted that extreme overbought conditions have unwound since April, which is providing support for the crypto rally. Related: Paxos Renames Standard Stablecoin as Pax Dollar “Right now, bitcoin and other cryptos have enjoyed technical support (as they were becoming mildly oversold),” Santiago Espinosa , a strategist at MRB Partners, wrote in an email to CoinDesk. “At this juncture, some cryptos can continue to do well if policymakers neglect inflationary pressures and regulatory issues don’t become a mainstream problem.” Bitcoin options expiry Roughly 25% of bitcoin options open interest is set to expire on Friday. The largest concentration of open interest is seen at the $50,000 strike price, which is also a key technical resistance level. Story continues “Despite implied volatility softening over the past few weeks, $50K is a large psychological barrier and the open interest concentration could prove choppy going into expiration,” Gregoire Magadini, co-founder and CEO of Genesis Volatility , wrote in a Telegram chat. The bitcoin options market is placing a 45% chance of BTC trading above $50,000 by the end of September, according to options data provider, Skew . Bloomberg’s McGlone still bullish on bitcoin Bloomberg Intelligence’s Mike McGlone, who won plaudits last year for being among the most prominent analysts predicting that bitcoin would go to $50,000 , sees further upside now that the largest cryptocurrency has returned to the mark following a steep market correction. “Bitcoin, gold and long bonds are top assets set to outperform” in the second half of 2021, McGlone wrote Monday in a report. “The firstborn crypto may have solved the age-old problem of a global reserve asset that’s easily transportable and transactionable, has 24/7 price discovery, is relatively scarce and is nobody’s liability or project.” BTC holdings rise The percentage of bitcoin profitable addresses (BTC value above the cost basis) reached a three-month high, according to Glassnode data. “The decline in realized losses of late could indicate that investors have found renewed conviction to hold on, or are potentially taking exits that are closer to their original cost basis, as price recovers towards the $50K range,” Glassnode wrote in a Monday blog post . Crypto fund inflows Crypto funds saw $21 million of net inflows last week as digital-asset markets rallied, pushing the total assets under management (AUM) to $57.3 billion, the highest level since May, a new report shows. The latest data reflected a reversal after six consecutive weeks of outflows, according to the report Monday by digital-asset manager CoinShares. Funds focused on Solana’s SOL token saw the largest inflow among all digital assets, at $7.1 million last week, the report shows. The token hit an all-time high of $82 on Saturday, according to Messari. Investors redeemed $2.8 million from bitcoin -focused funds last week, the seventh consecutive week of outflows, despite the largest cryptocurrency’s price upturn. The run matched the streak of outflows recorded in early 2018, the report noted. That was just before the “crypto winter,” when cryptocurrency prices tanked and failed to return to all-time highs for more than two years. Altcoin roundup Visa buys a CryptoPunk for $150K: Visa has bought CryptoPunk 7610, a female CryptoPunk character for around $150,000, taking a step into non-fungible tokens (NFTs) as it seeks to learn more about the burgeoning market. A collection of nine rare CryptoPunks that were among the first 1,000 minted fetched almost $17 million in an auction at Christie’s in May. Cuy Sheffield, Visa’s head of crypto, said in a blog post that the main purpose behind Visa’s purchase was to learn more about the growing market. “We think NFTs will play an important role in the future of retail, social media, entertainment and commerce,” Sheffield wrote. “To help our clients and partners participate, we need a firsthand understanding of the infrastructure requirements for a global brand to purchase, store and leverage an NFT.” Tether starts printing again: Tether, issuer of the world’s largest stablecoin, USDT, has started printing again after a roughly two-month halt that sparked investors’ concerns and speculation. Tether has minted at least 2.3 billion USDT since Aug. 1, pushing the token’s market cap to $65 billion, a Tether representative told CoinDesk via email. Demand for USDT has recently rebounded, according to Tether and industry experts, as crypto market sentiment has turned more positive. It’s possible, however, that the demand for USDT may not be driven by bitcoin but instead by some altcoins, such as solana (SOL) and terra (LUNA), whose trading volumes have surged, according to Noelle Acheson, head of market insights at crypto prime broker Genesis Global Trading, which shares common ownership with CoinDesk. USDC to change reserves: The world’s second-largest stablecoin, USDC, will be 100% backed by cash and short-term U.S. Treasurys by September, according to developer Centre, a consortium of crypto exchange Coinbase and payments technology company Circle. Circle revealed last month that only 61% of tokens were backed by “cash and cash equivalents,” referring to cash and money-market funds. Centre “will ensure that the USDC investments revert back to a more conservative investment profile by the end of September,” Emilie Choi, president and chief operating officer at Coinbase, wrote in a tweet. Poly Network hacker releases private key for remaining looted $141M: The attacker who hacked more than $600 million from the China-based Poly Network platform has released the private key for the remaining $141 million of the stolen cryptocurrency. In a note to the Poly Network team, the attacker or attackers referred to the saga as “one of the most wild adventures in our lives.” Poly Network subsequently tweeted its thanks to the attacker or attackers, posting a link to a transaction on the Ethereum blockchain confirming that the key worked. Relevant news: Another US Bank Joins the Small List Willing to Serve Crypto Companies Substack Rolls Out Bitcoin Payments via OpenNode and Lightning Network Liquid Exchange Hacker Covers Tracks by Sending $20M to ETH Mixer PayPal Brings Crypto Service to UK Customers AdvisorShares Files for Bitcoin Futures ETF Introducing Crypto for Advisors, a Newsletter for Financial Planners Cardano Alonzo Hard Fork: What You Need to Know Other markets Most digital assets on CoinDesk 20 ended up higher on Monday. Notable winners of 21:00 UTC (4:00 p.m. ET): cardano (ADA) +12.2% filecoin (FIL) +4.71% eos (EOS) +3.71% Notable losers: algorand (ALGO) -2.24% the graph (GRT) -1.39% Related Stories Bitcoin Struggles at Resistance; Support Near $48K DeFi Adoption Is Still Far From Mainstream: Chainalysis Report \|\| Market Wrap: Bitcoin Stalls Near $50K Ahead of Options Expiration Date: Bitcoin stalled after approaching the $50,000 resistance level on Monday. The cryptocurrency was trading at about $49,500 at press time and is up about 8% over the past week. Analysts expect a period of consolidation ahead of Friday’s option expiration date and news from the Federal Reserve’s annual economic policy symposium in Jackson Hole, Wyo. “The trend is bullish; however, caution is to be exercised at these levels due to the decline in volume as well as resistance from April and May,” Marcus Sotiriou, a trader atGlobalBlock, wrote in an email to CoinDesk. “$51K would be a natural place for a short-term pause in the rally,” Katie Stockton, managing director ofFairlead Strategies, wrote in a Monday newsletter. Related:Should You Invest in Bitcoin for Retirement? “Long-term momentum behind bitcoin has strengthened and the 200-day (40-week) moving average is rising again, supporting a bullish long-term outlook,” she wrote. Cryptocurrencies: • Bitcoin(BTC) $49218, +1.14% • Ether(ETH) $3303, +4.25% Traditional markets: • S&P 500: 4479.5, +0.85% • Gold: $1803, +0.57% • 10-year Treasury yield closed at 1.251%, compared with 1.261% on Friday Several analysts noted that extreme overbought conditions have unwound since April, which is providing support for the crypto rally. Related:Paxos Renames Standard Stablecoin as Pax Dollar “Right now, bitcoin and other cryptos have enjoyed technical support (as they were becoming mildly oversold),”Santiago Espinosa, a strategist at MRB Partners, wrote in an email to CoinDesk. “At this juncture, some cryptos can continue to do well if policymakers neglect inflationary pressures and regulatory issues don’t become a mainstream problem.” Roughly 25% of bitcoin options open interest is set to expire on Friday. The largest concentration of open interest is seen at the $50,000 strike price, which is also a key technical resistance level. “Despite implied volatility softening over the past few weeks, $50K is a large psychological barrier and the open interest concentration could prove choppy going into expiration,” Gregoire Magadini, co-founder and CEO ofGenesis Volatility, wrote in a Telegram chat. The bitcoin options market is placing a 45% chance of BTC trading above $50,000 by the end of September, according to options data provider,Skew. Bloomberg Intelligence’s Mike McGlone, who won plaudits last year for being among the most prominent analystspredicting that bitcoin would go to $50,000, sees further upside now that the largest cryptocurrency has returned to the mark following a steep market correction. “Bitcoin, gold and long bonds are top assets set to outperform” in the second half of 2021, McGlone wrote Monday in a report. “The firstborn crypto may have solved the age-old problem of a global reserve asset that’s easily transportable and transactionable, has 24/7 price discovery, is relatively scarce and is nobody’s liability or project.” The percentage of bitcoin profitable addresses (BTC value above the cost basis) reached a three-month high, according to Glassnode data. “The decline in realized losses of late could indicate that investors have found renewed conviction to hold on, or are potentially taking exits that are closer to their original cost basis, as price recovers towards the $50K range,” Glassnode wrote in a Mondayblog post. Crypto fundssaw $21 million of net inflowslast week as digital-asset markets rallied, pushing the total assets under management (AUM) to $57.3 billion, the highest level since May, a new report shows. The latest data reflected a reversal after six consecutive weeks of outflows, according to thereportMonday by digital-asset manager CoinShares. Funds focused on Solana’s SOL token saw the largest inflow among all digital assets, at $7.1 million last week, the report shows. The token hit an all-time high of $82 on Saturday, according to Messari. Investors redeemed $2.8 million frombitcoin-focused funds last week, the seventh consecutive week of outflows, despite the largest cryptocurrency’s price upturn. The run matched the streak of outflows recorded in early 2018, the report noted. That was just before the “crypto winter,” when cryptocurrency prices tanked and failed to return to all-time highs for more than two years. • Visa buys a CryptoPunk for $150K:Visa hasboughtCryptoPunk 7610, a female CryptoPunk character for around $150,000, taking a step into non-fungible tokens (NFTs) as it seeks to learn more about the burgeoning market. A collection of nine rare CryptoPunks that were among the first 1,000 minted fetched almost $17 million in an auction at Christie’s in May. Cuy Sheffield, Visa’s head of crypto, said in ablog postthat the main purpose behind Visa’s purchase was to learn more about the growing market. “We think NFTs will play an important role in the future of retail, social media, entertainment and commerce,” Sheffield wrote. “To help our clients and partners participate, we need a firsthand understanding of the infrastructure requirements for a global brand to purchase, store and leverage an NFT.” • Tether starts printing again:Tether, issuer of the world’s largest stablecoin, USDT,has started printing againafter a roughly two-month halt that sparked investors’ concerns and speculation. Tether has minted at least 2.3 billion USDT since Aug. 1, pushing the token’s market cap to $65 billion, a Tether representative told CoinDesk via email. Demand for USDT has recently rebounded, according to Tether and industry experts, as crypto market sentiment has turned more positive. It’s possible, however, that the demand for USDT may not be driven by bitcoin but instead by some altcoins, such as solana (SOL) and terra (LUNA), whose trading volumes have surged, according to Noelle Acheson, head of market insights at crypto prime broker Genesis Global Trading, which shares common ownership with CoinDesk. • USDC to change reserves:The world’s second-largest stablecoin, USDC,will be 100% backedby cash and short-term U.S. Treasurys by September, according to developer Centre, a consortium of crypto exchange Coinbase and payments technology company Circle. Circlerevealed last monththat only 61% of tokens were backed by “cash and cash equivalents,” referring to cash and money-market funds. Centre “will ensure that the USDC investments revert back to a more conservative investment profile by the end of September,” Emilie Choi, president and chief operating officer at Coinbase,wrotein a tweet. • Poly Network hacker releases private key for remaining looted $141M:The attacker who hacked more than $600 million from the China-based Poly Network platformhas released the private keyfor the remaining $141 million of the stolen cryptocurrency. In a note to the Poly Network team, the attacker or attackers referred to the saga as “one of the most wild adventures in our lives.” Poly Network subsequentlytweetedits thanks to the attacker or attackers, posting alinkto a transaction on the Ethereum blockchain confirming that the key worked. • Another US Bank Joins the Small List Willing to Serve Crypto Companies • Substack Rolls Out Bitcoin Payments via OpenNode and Lightning Network • Liquid Exchange Hacker Covers Tracks by Sending $20M to ETH Mixer • PayPal Brings Crypto Service to UK Customers • AdvisorShares Files for Bitcoin Futures ETF • Introducing Crypto for Advisors, a Newsletter for Financial Planners • Cardano Alonzo Hard Fork: What You Need to Know Most digital assets on CoinDesk 20 ended up higher on Monday. Notable winners of 21:00 UTC (4:00 p.m. ET): cardano(ADA) +12.2% filecoin(FIL) +4.71% eos(EOS) +3.71% Notable losers: algorand(ALGO) -2.24% the graph(GRT) -1.39% • Bitcoin Struggles at Resistance; Support Near $48K • DeFi Adoption Is Still Far From Mainstream: Chainalysis Report \|\| Market Wrap: Bitcoin Stalls Near $50K Ahead of Options Expiration Date: Bitcoin stalled after approaching the $50,000 resistance level on Monday. The cryptocurrency was trading at about $49,500 at press time and is up about 8% over the past week. Analysts expect a period of consolidation ahead of Friday’s option expiration date and news from the Federal Reserve’s annual economic policy symposium in Jackson Hole, Wyo. “The trend is bullish; however, caution is to be exercised at these levels due to the decline in volume as well as resistance from April and May,” Marcus Sotiriou, a trader atGlobalBlock, wrote in an email to CoinDesk. “$51K would be a natural place for a short-term pause in the rally,” Katie Stockton, managing director ofFairlead Strategies, wrote in a Monday newsletter. Related:Should You Invest in Bitcoin for Retirement? “Long-term momentum behind bitcoin has strengthened and the 200-day (40-week) moving average is rising again, supporting a bullish long-term outlook,” she wrote. Cryptocurrencies: • Bitcoin(BTC) $49218, +1.14% • Ether(ETH) $3303, +4.25% Traditional markets: • S&P 500: 4479.5, +0.85% • Gold: $1803, +0.57% • 10-year Treasury yield closed at 1.251%, compared with 1.261% on Friday Several analysts noted that extreme overbought conditions have unwound since April, which is providing support for the crypto rally. Related:Paxos Renames Standard Stablecoin as Pax Dollar “Right now, bitcoin and other cryptos have enjoyed technical support (as they were becoming mildly oversold),”Santiago Espinosa, a strategist at MRB Partners, wrote in an email to CoinDesk. “At this juncture, some cryptos can continue to do well if policymakers neglect inflationary pressures and regulatory issues don’t become a mainstream problem.” Roughly 25% of bitcoin options open interest is set to expire on Friday. The largest concentration of open interest is seen at the $50,000 strike price, which is also a key technical resistance level. “Despite implied volatility softening over the past few weeks, $50K is a large psychological barrier and the open interest concentration could prove choppy going into expiration,” Gregoire Magadini, co-founder and CEO ofGenesis Volatility, wrote in a Telegram chat. The bitcoin options market is placing a 45% chance of BTC trading above $50,000 by the end of September, according to options data provider,Skew. Bloomberg Intelligence’s Mike McGlone, who won plaudits last year for being among the most prominent analystspredicting that bitcoin would go to $50,000, sees further upside now that the largest cryptocurrency has returned to the mark following a steep market correction. “Bitcoin, gold and long bonds are top assets set to outperform” in the second half of 2021, McGlone wrote Monday in a report. “The firstborn crypto may have solved the age-old problem of a global reserve asset that’s easily transportable and transactionable, has 24/7 price discovery, is relatively scarce and is nobody’s liability or project.” The percentage of bitcoin profitable addresses (BTC value above the cost basis) reached a three-month high, according to Glassnode data. “The decline in realized losses of late could indicate that investors have found renewed conviction to hold on, or are potentially taking exits that are closer to their original cost basis, as price recovers towards the $50K range,” Glassnode wrote in a Mondayblog post. Crypto fundssaw $21 million of net inflowslast week as digital-asset markets rallied, pushing the total assets under management (AUM) to $57.3 billion, the highest level since May, a new report shows. The latest data reflected a reversal after six consecutive weeks of outflows, according to thereportMonday by digital-asset manager CoinShares. Funds focused on Solana’s SOL token saw the largest inflow among all digital assets, at $7.1 million last week, the report shows. The token hit an all-time high of $82 on Saturday, according to Messari. Investors redeemed $2.8 million frombitcoin-focused funds last week, the seventh consecutive week of outflows, despite the largest cryptocurrency’s price upturn. The run matched the streak of outflows recorded in early 2018, the report noted. That was just before the “crypto winter,” when cryptocurrency prices tanked and failed to return to all-time highs for more than two years. • Visa buys a CryptoPunk for $150K:Visa hasboughtCryptoPunk 7610, a female CryptoPunk character for around $150,000, taking a step into non-fungible tokens (NFTs) as it seeks to learn more about the burgeoning market. A collection of nine rare CryptoPunks that were among the first 1,000 minted fetched almost $17 million in an auction at Christie’s in May. Cuy Sheffield, Visa’s head of crypto, said in ablog postthat the main purpose behind Visa’s purchase was to learn more about the growing market. “We think NFTs will play an important role in the future of retail, social media, entertainment and commerce,” Sheffield wrote. “To help our clients and partners participate, we need a firsthand understanding of the infrastructure requirements for a global brand to purchase, store and leverage an NFT.” • Tether starts printing again:Tether, issuer of the world’s largest stablecoin, USDT,has started printing againafter a roughly two-month halt that sparked investors’ concerns and speculation. Tether has minted at least 2.3 billion USDT since Aug. 1, pushing the token’s market cap to $65 billion, a Tether representative told CoinDesk via email. Demand for USDT has recently rebounded, according to Tether and industry experts, as crypto market sentiment has turned more positive. It’s possible, however, that the demand for USDT may not be driven by bitcoin but instead by some altcoins, such as solana (SOL) and terra (LUNA), whose trading volumes have surged, according to Noelle Acheson, head of market insights at crypto prime broker Genesis Global Trading, which shares common ownership with CoinDesk. • USDC to change reserves:The world’s second-largest stablecoin, USDC,will be 100% backedby cash and short-term U.S. Treasurys by September, according to developer Centre, a consortium of crypto exchange Coinbase and payments technology company Circle. Circlerevealed last monththat only 61% of tokens were backed by “cash and cash equivalents,” referring to cash and money-market funds. Centre “will ensure that the USDC investments revert back to a more conservative investment profile by the end of September,” Emilie Choi, president and chief operating officer at Coinbase,wrotein a tweet. • Poly Network hacker releases private key for remaining looted $141M:The attacker who hacked more than $600 million from the China-based Poly Network platformhas released the private keyfor the remaining $141 million of the stolen cryptocurrency. In a note to the Poly Network team, the attacker or attackers referred to the saga as “one of the most wild adventures in our lives.” Poly Network subsequentlytweetedits thanks to the attacker or attackers, posting alinkto a transaction on the Ethereum blockchain confirming that the key worked. • Another US Bank Joins the Small List Willing to Serve Crypto Companies • Substack Rolls Out Bitcoin Payments via OpenNode and Lightning Network • Liquid Exchange Hacker Covers Tracks by Sending $20M to ETH Mixer • PayPal Brings Crypto Service to UK Customers • AdvisorShares Files for Bitcoin Futures ETF • Introducing Crypto for Advisors, a Newsletter for Financial Planners • Cardano Alonzo Hard Fork: What You Need to Know Most digital assets on CoinDesk 20 ended up higher on Monday. Notable winners of 21:00 UTC (4:00 p.m. ET): cardano(ADA) +12.2% filecoin(FIL) +4.71% eos(EOS) +3.71% Notable losers: algorand(ALGO) -2.24% the graph(GRT) -1.39% • Bitcoin Struggles at Resistance; Support Near $48K • DeFi Adoption Is Still Far From Mainstream: Chainalysis Report \|\| Riot Blockchain Reports Record Second Quarter 2021 Financial Results, Current Operational and Financial Highlights: Castle Rock, CO, Aug. 23, 2021 (GLOBE NEWSWIRE) -- Riot Blockchain, Inc. (NASDAQ: RIOT) ("Riot" or the "Company") , one of the leading Nasdaq-listed public Bitcoin (“BTC”) mining companies in the United States, reported financial results as of and for the three-months ended June 30, 2021. The unaudited financial statements are available on Riot's website and here . Increased mining revenue by 1,540% to a record $31.5 million for the three-month period ended June 30, 2021, as compared to $1.9 million for the same three-month period in 2020. Increased mining revenue margin to 70% for the three-month period ended June 30, 2021, as compared to 25% for the same three-month period in 2020. Produced record net income of $19.3 million, or $0.22 per share for the three-month period ended June 30, 2021, as compared to a $(10.6) million net loss, or $(0.31) per share, for the same three-month period in 2020. Total cash and Bitcoin of $195.4 million as of June 30, 2021. “We are extremely pleased with Riot’s record quarterly financial results,” said Jason Les, Riot’s CEO. “The Company’s improved financial results are a direct result of Riot’s absolute focus on Bitcoin mining and growing its mining operations. With the successful acquisition of Whinstone US (“Whinstone”), the Company’s growth prospects have been significantly de-risked, and future financial opportunities are very exciting. As previously announced, Riot is aggressively expanding its capacity at Whinstone, which is expected to provide the critical infrastructure necessary to successfully execute on driving continued growth for the Company.” Second Quarter 2021 and Recent Financial Highlights Riot continues to attain significant milestones and set up for future opportunities, driven by its focus on Bitcoin mining. Produced a Company record $19.3 million in net income for the three-month period ended June 30, 2021, as compared to a $(10.6) million net loss for the same three-month period in 2020. Increased mining revenues by 1,540%, to $31.5 million for the three-month period ended June 30, 2021, as compared to $1.9 million for the same three-month period in 2020. Increased mining revenue margin, excluding depreciation and amortization, to 70% for the three-month period ended June 30, 2021, as compared to 25% for the same three-month period in 2020. Increased total mined BTC by 38% on a sequential quarter-over-quarter basis, with 675 BTC mined in the second quarter of 2021, as compared to 491 BTC mined in the first quarter of 2021. Increased total revenues to $34.3 million for the three-month period ended June 30, 2021, as compared to $1.9 million for the same three-month period in 2020. Included in the consolidated results are the operations of Whinstone, including $2.9 million in revenue, for the approximate one-month post acquisition period. With the acquisition of Whinstone, the Company determined it has two reportable segments: Cryptocurrency Mining and Data Center Hosting. Substantially all of the current assets as of June 30, 2021, totalling $221.3 million, are highly liquid. As of July 31, 2021, the Company’s unaudited BTC balance stood at 2,687 BTC, all of which were produced by its mining operations. The average BTC price used to calculate Riot’s second quarter 2021 mining revenues was approximately $46,600. Story continues Second Quarter 2021 and Recent Operational Highlights Successfully closed the acquisition of Whinstone, creating one of the largest hosting and mining companies in North America, as measured by developed and future capacity. Initiated a 400 megawatt (“MW”) expansion at Whinstone with four buildings totalling approximately 240,000 square feet currently under construction. Strengthened the Company’s management team by appointing William Jackman as General Counsel, Josh Bowman as Director of Human Resources, and Trystine Payfer as Director of Communications. During the three-month period ended June 30, 2021, Riot received 9,900 S19 Pro Antminers (110 TH) under purchase contracts with Bitmain previously announced in 2020. As of June 30, 2021, the Company had 16,146 miners installed, and 7,500 S19 Pro Antminers in the process of being deployed. Subsequent to June 30, 2021, the Company installed approximately 4,600 S19 Pro Antminers, resulting in a fleet of 20,746 miners deployed. Riot’s current hash rate capacity is approximately 2.07 exahash per second (“EH/s”). As part of a December 2020 purchase order with Bitmain, 2,000 S19 Pro Antminers were shipped late July and will be deployed at the Whinstone facility over the coming weeks. By early September, Riot anticipates that it will have a total of 25,946 Antminers in operation, utilizing approximately 83 MW of energy, with an estimated hash rate capacity of 2.6 EH/s. Second Quarter 2021 Financial Results Mining margin, computed as mining revenues in excess of cost of revenues (excluding depreciation and amortization which is separately stated), was $22.1 million (70% of mining revenue), which compares to $0.5 million for the same three-month period in 2020. The improvements in revenue and gross profit were primarily due to increases in the price of Bitcoin, combined with the greater number and higher efficiencies of the new generation miners currently being deployed, net of increases in the difficulty index associated with solving BTC mining algorithms. Selling, general, and administrative ("SG&A") expenses increased by 58% to $3.5 million, as compared to $2.2 million for the same three-month period in 2020. The increase in SG&A expenses was primarily due to increased personnel as a result of the company’s rapid growth. Acquisition-related costs of $17.0 million were incurred during the second quarter of 2021, for the Whinstone acquisition. Acquisition-related costs incurred during the period are considered to be non-recurring. Net income for the quarter ended June 30, 2021 was $19.3 million, or $0.22 per share, as compared to a net loss of $(10.6) million, or $(0.31) per share, in the same period last year. Second quarter 2021 net income, included several significant income (expense) items, including a realized gain on the sale of long-term investments of $26.2 million, an impairment of crypto currencies of $(17.5 million), a change in fair value of derivative assets of $17.5 million, associated with the Whinstone power agreement, and Whinstone acquisition costs of $(17.0) million. Hash Rate Growth During Q4 2022, Riot anticipates achieving a total hash rate capacity of 7.7 EH/s, assuming full deployment of its anticipated fleet of approximately 81,146 Antminers acquired from Bitmain, 95% of which will be the latest generation S19 series model of miners. When fully deployed, the Company’s total fleet is expected to consume approximately 257.6 MW of energy with an overall hash rate efficiency of 33 joules per terahash (J/TH). This demonstrates Riot’s commitment to being a market leader by building one of the largest and most efficient Bitcoin mining fleets in the industry. About Riot Blockchain, Inc. Riot Blockchain (NASDAQ: RIOT) focuses on mining Bitcoin, and through Whinstone, its wholly owned subsidiary, provides data center hosting of Bitcoin mining equipment for institutional clients. The Company is expanding and upgrading its mining operations through industrial-scale infrastructure development and latest-generation miner procurement. Riot is headquartered in Castle Rock, Colorado, and the Whinstone facility operates out of Rockdale, Texas. The Company also has mining equipment operating in upstate New York under a co-location hosting agreement with Coinmint, LLC. For more information, visit www.RiotBlockchain.com . Safe Harbor The information provided in this press release may include forward-looking statements relating to future events or the future financial performance of the Company. Because such statements are subject to risks and uncertainties, actual results may differ materially from those expressed or implied by such forward-looking statements. Words such as "anticipates," “believes,” "plans," "expects," "intends," "will," "potential," "hope" and similar expressions are intended to identify forward-looking statements. These forward-looking statements are based upon current expectations of the Company and involve assumptions that may never materialize or may prove to be incorrect. Actual results and the timing of events could differ materially from those anticipated in such forward-looking statements as a result of various risks and uncertainties. Detailed information regarding factors that may cause actual results to differ materially from the results expressed or implied by statements in this press release relating to the Company may be found in the Company's periodic filings with the U.S. Securities and Exchange Commission (the “SEC”), including the factors described in the sections entitled "Risk Factors" and “Cautionary Note Regarding Forward-Looking Statements” of the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2020, which was filed with the SEC on March 31, 2021, copies of which may be obtained from the SEC's website at www.sec.gov. The Company does not undertake any obligation to update forward-looking statements contained in this press release. Attachment miner order CONTACT: Phil McPherson Riot Blockchain, Inc. 303-794-2000 ext. 110 [email protected] Trystine Payfer Riot Blockchain, Inc. 303-794-2000 [email protected] \|\| Riot Blockchain Reports Record Second Quarter 2021 Financial Results, Current Operational and Financial Highlights: Castle Rock, CO, Aug. 23, 2021 (GLOBE NEWSWIRE) --Riot Blockchain, Inc.(NASDAQ: RIOT)("Riot" or the "Company"), one of the leading Nasdaq-listed public Bitcoin (“BTC”) mining companies in the United States, reported financial results as of and for the three-months ended June 30, 2021. The unaudited financial statements are available on Riot'swebsiteandhere. • Increased mining revenue by 1,540% to a record $31.5 million for the three-month period ended June 30, 2021, as compared to $1.9 million for the same three-month period in 2020. • Increased mining revenue margin to 70% for the three-month period ended June 30, 2021, as compared to 25% for the same three-month period in 2020. • Produced record net income of $19.3 million, or $0.22 per share for the three-month period ended June 30, 2021, as compared to a $(10.6) million net loss, or $(0.31) per share, for the same three-month period in 2020. • Total cash and Bitcoin of $195.4 million as of June 30, 2021. “We are extremely pleased with Riot’s record quarterly financial results,” said Jason Les, Riot’s CEO. “The Company’s improved financial results are a direct result of Riot’s absolute focus on Bitcoin mining and growing its mining operations. With the successful acquisition of Whinstone US (“Whinstone”), the Company’s growth prospects have been significantly de-risked, and future financial opportunities are very exciting. As previously announced, Riot is aggressively expanding its capacity at Whinstone, which is expected to provide the critical infrastructure necessary to successfully execute on driving continued growth for the Company.” Second Quarter 2021 and Recent Financial Highlights Riot continues to attain significant milestones and set up for future opportunities, driven by its focus on Bitcoin mining. • Produced a Company record $19.3 million in net income for the three-month period ended June 30, 2021, as compared to a $(10.6) million net loss for the same three-month period in 2020. • Increased mining revenues by 1,540%, to $31.5 million for the three-month period ended June 30, 2021, as compared to $1.9 million for the same three-month period in 2020. • Increased mining revenue margin, excluding depreciation and amortization, to 70% for the three-month period ended June 30, 2021, as compared to 25% for the same three-month period in 2020. • Increased total mined BTC by 38% on a sequential quarter-over-quarter basis, with 675 BTC mined in the second quarter of 2021, as compared to 491 BTC mined in the first quarter of 2021. • Increased total revenues to $34.3 million for the three-month period ended June 30, 2021, as compared to $1.9 million for the same three-month period in 2020. Included in the consolidated results are the operations of Whinstone, including $2.9 million in revenue, for the approximate one-month post acquisition period. With the acquisition of Whinstone, the Company determined it has two reportable segments: Cryptocurrency Mining and Data Center Hosting. • Substantially all of the current assets as of June 30, 2021, totalling $221.3 million, are highly liquid. As of July 31, 2021, the Company’s unaudited BTC balance stood at 2,687 BTC, all of which were produced by its mining operations. • The average BTC price used to calculate Riot’s second quarter 2021 mining revenues was approximately $46,600. Second Quarter 2021 and Recent Operational Highlights • Successfully closed the acquisition of Whinstone, creating one of the largest hosting and mining companies in North America, as measured by developed and future capacity. • Initiated a 400 megawatt (“MW”) expansion at Whinstone with four buildings totalling approximately 240,000 square feet currently under construction. • Strengthened the Company’s management team by appointing William Jackman as General Counsel, Josh Bowman as Director of Human Resources, and Trystine Payfer as Director of Communications. • During the three-month period ended June 30, 2021, Riot received 9,900 S19 Pro Antminers (110 TH) under purchase contracts with Bitmain previously announced in 2020. As of June 30, 2021, the Company had 16,146 miners installed, and 7,500 S19 Pro Antminers in the process of being deployed. • Subsequent to June 30, 2021, the Company installed approximately 4,600 S19 Pro Antminers, resulting in a fleet of 20,746 miners deployed. Riot’s current hash rate capacity is approximately 2.07 exahash per second (“EH/s”). • As part of a December 2020 purchase order with Bitmain, 2,000 S19 Pro Antminers were shipped late July and will be deployed at the Whinstone facility over the coming weeks. By early September, Riot anticipates that it will have a total of 25,946 Antminers in operation, utilizing approximately 83 MW of energy, with an estimated hash rate capacity of 2.6 EH/s. Second Quarter 2021 Financial Results Mining margin, computed as mining revenues in excess of cost of revenues (excluding depreciation and amortization which is separately stated), was $22.1 million (70% of mining revenue), which compares to $0.5 million for the same three-month period in 2020. The improvements in revenue and gross profit were primarily due to increases in the price of Bitcoin, combined with the greater number and higher efficiencies of the new generation miners currently being deployed, net of increases in the difficulty index associated with solving BTC mining algorithms. Selling, general, and administrative ("SG&A") expenses increased by 58% to $3.5 million, as compared to $2.2 million for the same three-month period in 2020. The increase in SG&A expenses was primarily due to increased personnel as a result of the company’s rapid growth. Acquisition-related costs of $17.0 million were incurred during the second quarter of 2021, for the Whinstone acquisition. Acquisition-related costs incurred during the period are considered to be non-recurring. Net income for the quarter ended June 30, 2021 was $19.3 million, or $0.22 per share, as compared to a net loss of $(10.6) million, or $(0.31) per share, in the same period last year. Second quarter 2021 net income, included several significant income (expense) items, including a realized gain on the sale of long-term investments of $26.2 million, an impairment of crypto currencies of $(17.5 million), a change in fair value of derivative assets of $17.5 million, associated with the Whinstone power agreement, and Whinstone acquisition costs of $(17.0) million. Hash Rate Growth During Q4 2022, Riot anticipates achieving a total hash rate capacity of 7.7 EH/s, assuming full deployment of its anticipated fleet of approximately 81,146 Antminers acquired from Bitmain, 95% of which will be the latest generation S19 series model of miners. When fully deployed, the Company’s total fleet is expected to consume approximately 257.6 MW of energy with an overall hash rate efficiency of 33 joules per terahash (J/TH). This demonstrates Riot’s commitment to being a market leader by building one of the largest and most efficient Bitcoin mining fleets in the industry. About Riot Blockchain, Inc. Riot Blockchain (NASDAQ: RIOT) focuses on mining Bitcoin, and through Whinstone, its wholly owned subsidiary, provides data center hosting of Bitcoin mining equipment for institutional clients. The Company is expanding and upgrading its mining operations through industrial-scale infrastructure development and latest-generation miner procurement. Riot is headquartered in Castle Rock, Colorado, and the Whinstone facility operates out of Rockdale, Texas. The Company also has mining equipment operating in upstate New York under a co-location hosting agreement with Coinmint, LLC. For more information, visitwww.RiotBlockchain.com. Safe Harbor The information provided in this press release may include forward-looking statements relating to future events or the future financial performance of the Company. Because such statements are subject to risks and uncertainties, actual results may differ materially from those expressed or implied by such forward-looking statements. Words such as "anticipates," “believes,” "plans," "expects," "intends," "will," "potential," "hope" and similar expressions are intended to identify forward-looking statements. These forward-looking statements are based upon current expectations of the Company and involve assumptions that may never materialize or may prove to be incorrect. Actual results and the timing of events could differ materially from those anticipated in such forward-looking statements as a result of various risks and uncertainties. Detailed information regarding factors that may cause actual results to differ materially from the results expressed or implied by statements in this press release relating to the Company may be found in the Company's periodic filings with the U.S. Securities and Exchange Commission (the “SEC”), including the factors described in the sections entitled "Risk Factors" and “Cautionary Note Regarding Forward-Looking Statements” of the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2020, which was filed with the SEC on March 31, 2021, copies of which may be obtained from the SEC's website at www.sec.gov. The Company does not undertake any obligation to update forward-looking statements contained in this press release. Attachment • miner order CONTACT: Phil McPherson Riot Blockchain, Inc. 303-794-2000 ext. 110 [email protected] Trystine Payfer Riot Blockchain, Inc. 303-794-2000 [email protected] \|\| CFTC Commissioner Stump Decries ‘Oversimplification’ That Crypto Is Either a Security or Commodity: The U.S.’ top commodities regulator primarily oversees derivatives markets, rather than spot commodity markets, Dawn Stump, a commissioner at the Commodity Futures Trading Commission’s (CFTC),saidMonday. Stump, who was appointed by then-President Donald Trump in 2018, joined a growing group of regulators debating which federal agency should regulate the booming digital asset market in the United States. In herstatement, Stump described a “grossly inaccurate oversimplification” that digital assets are either securities or commodities that fall under the jurisdiction of the CFTC. If they are deemed to be securities, they would be regulated by the U.S. Securities and Exchange Commission. Related:Digital Yuan Used in China’s Domestic Futures Market for First Time: Report Because the CFTC doesn’t regulate commodities themselves – only futures contracts or derivative products like swaps – Stump said it doesn’t matter whether digital assets are classified as securities or commodities, because they wouldn’t fall under the authority of the CFTC unless a futures or derivatives contract was involved. Earlier this month, SEC Chairman Gary Gensler said that his agency should regulate a broader segment of the crypto market, including possibly spot market and exchanges that list any cryptocurrencies that fall under securities law. In response, crypto-friendly CFTC CommissionerBrian Quintenztweetedthat the SEC has no authority over “pure commodities or their trading venues” – implying that responsibility belongs to the CFTC. In her statement Monday, Stump also explained the difference between the CFTC’s regulatory authority, which Stump said doesn’t apply to digital assets, and its broader enforcement authority, which Stump suggested does. Using the CFTC’s case against crypto exchange and derivatives trading platform BitMEX as an example, Stump said the agency has historically used its anti-manipulation and anti-fraud enforcement authority to protect cash commodities. “Because well-functioning futures contracts (and other derivatives products) rely upon a sound underlying cash market and may reference cash market indexes in their pricing. Thus, the CFTC utilizes this particular enforcement authority to protect the integrity of the derivatives markets that it regulates,” Stumpwrote. • Eurex to Launch Bitcoin ETN Futures to Meet ‘Significant Demand’ • Crypto Booster Brian Quintenz to Step Down as CFTC Commissioner • Congressmen McHenry, Thompson Call SEC Chair Gensler’s Remarks on Crypto ‘Concerning’ \|\| CFTC Commissioner Stump Decries Oversimplification That Crypto Is Either a Security or Commodity: The U.S. top commodities regulator primarily oversees derivatives markets, rather than spot commodity markets, Dawn Stump, a commissioner at the Commodity Futures Trading Commissions (CFTC), said Monday. Stump, who was appointed by then-President Donald Trump in 2018, joined a growing group of regulators debating which federal agency should regulate the booming digital asset market in the United States. In her statement , Stump described a grossly inaccurate oversimplification that digital assets are either securities or commodities that fall under the jurisdiction of the CFTC. If they are deemed to be securities, they would be regulated by the U.S. Securities and Exchange Commission. Related: Digital Yuan Used in China’s Domestic Futures Market for First Time: Report Because the CFTC doesnt regulate commodities themselves only futures contracts or derivative products like swaps Stump said it doesnt matter whether digital assets are classified as securities or commodities, because they wouldnt fall under the authority of the CFTC unless a futures or derivatives contract was involved. Earlier this month, SEC Chairman Gary Gensler said that his agency should regulate a broader segment of the crypto market, including possibly spot market and exchanges that list any cryptocurrencies that fall under securities law. In response, crypto-friendly CFTC Commissioner Brian Quintenz tweeted that the SEC has no authority over pure commodities or their trading venues implying that responsibility belongs to the CFTC. In her statement Monday, Stump also explained the difference between the CFTCs regulatory authority, which Stump said doesnt apply to digital assets, and its broader enforcement authority, which Stump suggested does. Using the CFTCs case against crypto exchange and derivatives trading platform BitMEX as an example, Stump said the agency has historically used its anti-manipulation and anti-fraud enforcement authority to protect cash commodities. Story continues Because well-functioning futures contracts (and other derivatives products) rely upon a sound underlying cash market and may reference cash market indexes in their pricing. Thus, the CFTC utilizes this particular enforcement authority to protect the integrity of the derivatives markets that it regulates, Stump wrote . Related Stories Eurex to Launch Bitcoin ETN Futures to Meet Significant Demand Crypto Booster Brian Quintenz to Step Down as CFTC Commissioner Congressmen McHenry, Thompson Call SEC Chair Genslers Remarks on Crypto Concerning \|\| Bitcoin price rises past $50,000 then retreats: LONDON/CHICAGO (Reuters) – Bitcoin’s price surged past $50,000 on Monday for the first time since May, but the rebound from a months-long slump later ran out of steam. The world’s largest cryptocurrency was last down 0.2% at $49,201. It had risen as high as $50,562 as investors bet that the prospect of more U.S. stimulus spending would lead to further gains, and more mainstream financial services firms made moves in the nascent asset class. Bitcoin has climbed 82% since hitting a yearly low of $27,700 in January. The price retreat was predominately driven by profit taking, according to Edward Moya, senior market analyst at OANDA in New York, who also pointed to a report that some bitcoin mining from China might abruptly go offline on Tuesday. Meanwhile, the price of rival cryptocurrency ether was last up 1.97% at $3,305. The virtual coin has risen 91% since slumping to below $1,740 last month. The cryptocurrency recovery comes as some more established financial services companies offer their customers access to virtual coins. PayPal Holdings Inc said on Monday it would allow customers in Britain to buy, sell and hold bitcoin and other cryptocurrencies starting this week. Moya said that fears of capital gains taxation has led some traders to hold cryptocurrency as a long-term investment, removing some volatility from the market. “New investors are the key to this latest bitcoin rally and all signs show they are comfortable with high risk,” he said in an email, adding that bitcoin “could see a fast appreciation here and might not hesitate making a run for $60,000 if appetite for risky assets remain intact.” Others also believe the upswing could have further to go if more retail investors return to the market. “The last time bitcoin was at $50,000, the Google trends (tracking website showing bitcoin searches) was much higher than what it is now,” Marcus Sotiriou, a sales trader at the UK based digital asset broker GlobalBlock, said in a note. “This suggests that retail euphoria hasn’t entered the market yet and bitcoin has a long way to go in this market cycle.” (Reporting by Anna Irrera in London and Karen Pierog in Chicago; Editing by David Holmes, Alison Williams and Jonathan Oatis) Thisarticlewas originally posted on FX Empire • Economic Data Puts the EUR in Focus as the Markets Try to Second Guess the FED • USD/CAD Exchange Rate Prediction – The Dollar Eases on Broad Profit Taking • GBP/USD Daily Forecast – Test Of Resistance At 1.3745 • Wall St gains, Nasdaq notches record closing high on full vaccine approval • Oil jumps 5% after 7 days of losses, boosted by weaker dollar • Microsoft’s Stock Price Hit New All-Time High After Office 365 Hike [Social Media Buzz] None available.	48960.79, 46942.22, 49058.67, 48902.40, 48829.83, 47054.98, 47166.69, 48847.03, 49327.72, 50025.38
Given the historical Bitcoin prices from the last 90 days, predict the next 10 daily closing prices. The historical prices are: 35547.75, 30825.70, 33005.76, 32067.64, 32289.38, 32366.39, 32569.85, 30432.55, 33466.10, 34316.39, 34269.52, 33114.36, 33537.18, 35510.29, 37472.09, 36926.07, 38144.31, 39266.01, 38903.44, 46196.46, 46481.11, 44918.18, 47909.33, 47504.85, 47105.52, 48717.29, 47945.06, 49199.87, 52149.01, 51679.80, 55888.13, 56099.52, 57539.95, 54207.32, 48824.43, 49705.33, 47093.85, 46339.76, 46188.45, 45137.77, 49631.24, 48378.99, 50538.24, 48561.17, 48927.30, 48912.38, 51206.69, 52246.52, 54824.12, 56008.55, 57805.12, 57332.09, 61243.09, 59302.32, 55907.20, 56804.90, 58870.89, 57858.92, 58346.65, 58313.64, 57523.42, 54529.14, 54738.95, 52774.27, 51704.16, 55137.31, 55973.51, 55950.75, 57750.20, 58917.69, 58918.83, 59095.81, 59384.31, 57603.89, 58758.55, 59057.88, 58192.36, 56048.94, 58323.95, 58245.00, 59793.23, 60204.96, 59893.45, 63503.46, 63109.70, 63314.01, 61572.79, 60683.82, 56216.18, 55724.27.	[Bitcoin Technical Analysis for 2021-04-19] Volume: 65344865159, RSI (14-day): 42.22, 50-day EMA: 55856.60, 200-day EMA: 38573.66 [Wider Market Context] Gold Price: 1769.40, Gold RSI: 57.14 Oil Price: 63.38, Oil RSI: 57.63 [Recent News (last 7 days)] Crypto Long & Short: Coinbase Going Public Isn’t Selling Out – It’s the Start of a Long Game: After a dramatic week in which the crypto industry’s eyes were on Coinbase’s Nasdaq debut , it’s time to step back and reflect. Plenty of pixels and airtime have already been beamed. Plenty of analysis has been performed about the valuation and growth outlook. But not enough has been said about what I think is the long game. Some have wondered if Brian Armstrong, Coinbase’s CEO and co-founder, is “selling out” by going public. A business that was built around an asset group created to eliminate the need for centralized gatekeepers ends up joining the centralized system. How could he? You’re reading Crypto Long & Short , a newsletter that looks closely at the forces driving cryptocurrency markets. Authored by CoinDesk’s head of research, Noelle Acheson, it goes out every Sunday and offers a recap of the week – with insights and analysis – from a professional investor’s point of view. You can subscribe here . Related: Consolidations Are Coming to Crypto I don’t think Coinbase going public is contradictory at all. Look deeper, and you see a strategic move to influence the system from within. New rules By joining the ranks of listed companies, Coinbase is now part of the traditional financial establishment. Only, it’s not, really. It still is a business premised on assets that do not function like traditional assets, and that permit a level and speed of innovation unlike any before in the financial industry. It is still, through and through, a crypto business. This is more far-reaching than it sounds: It’s not just about providing a platform for the buying and selling of crypto tokens. That’s significant, and currently accounts for 96% of Coinbase’s net revenue. But it’s “just” the on-ramp. It provides a relatively easy way for new investors to take their first steps into crypto – but it won’t change traditional markets. Story continues Related: Meltem Demirors at Consensus: Distributed Coinbase’s commitment to capital markets reform can be seen in a couple of recent announcements. Earlier this month, Coinbase joined forces with Fidelity, Square and others to form the Crypto Council for Innovation, which will lobby policy makers to support the growing crypto asset industry. A couple of days later, Coinbase announced that it was joining the DeFi Alliance, an organization that supports decentralized finance (DeFi) startups with guidance around regulations and market operations. Institutions are increasingly recognizing that DeFi could impact established processes, but they generally regard it as being too “out there” to be a meaningful threat. Imagine a large cap company actively promoting DeFi services, showing off their advantages and convincing other large cap companies that the operational benefit is worth the risk and the cost. New incentives Since money speaks louder than words, let’s look at some of Coinbase’s recent investments. In January, Coinbase acquired Bison Trails , a startup focused on staking services , to expand into the infrastructure-as-a-service segment. This isn’t just any type of infrastructure, though. Staking is based on a new type of consensus protocol, in which the stakeholders of a network (those that hold the assets) vote on transaction validation and other governance issues. In exchange for locking up their ether holdings, stakers earn a yield. In the case of the Beacon chain, Ethereum’s beta transition towards a full proof-of-stake blockchain, this yield can be as much as 11% annually. The Bison Trails acquisition is said to be one of Coinbase’s largest to date, which suggests that they will be looking to leverage this beyond simply offering clients access to yield opportunities. Staking exists as an incentive to actively participate in a network’s governance. The key word here is “incentive.” We saw this week how the median CEO pay in the U.S. jumped 7% to $13.7 million at a time when GDP slumped and unemployment soared . The main reason is that top executive compensation is increasingly linked to stock market performance, which can skew strategic decisions by moving focus to short-term results and superficial investor-appeasing press releases. Imagine the impact of a top-tier listed company showing stakeholders in other industries alternative incentive mechanisms with more balanced rewards and greater involvement in the community. New types of asset Another area to keep an eye on is Coinbase’s actual and potential investments in tokenized securities. In the S-1 filing , the company said (my emphasis): “Shortly following the effectiveness of the registration statement of which this prospectus forms a part, our board of directors will be authorized, subject to limitations prescribed by Delaware law, to issue common stock in one or more series … in the form of blockchain-based tokens. ” [emphasis added] This is a powerful and somewhat overlooked statement. The board of directors can do this “without further vote or action” by the company’s stockholders. And bear in mind the company has stakes in several security token platforms and issuers through its venture capital arm Coinbase Ventures . Coinbase is not registered as a broker-dealer or alternative trading system (ATS), so it cannot legally trade securities of any type on its main platform. Its subsidiary Coinbase Capital Markets is an SEC-registered broker-dealer, however, and Coinbase Securities is an SEC-registered ATS, so blockchain-based securities trading could well be on the horizon. Just think of the market buzz if one of Nasdaq’s largest-cap companies issued security tokens, that could trade on its own platform. Nasdaq would effectively be hosting the emergence of a parallel securities market that could end up being significant competition. Talk about changing capital markets from within. New beginnings And this is the main point: Coinbase did not “sell out.” It took the “revolution” to the castle. On the way, it got its early investors an exit, gave its shareholders liquidity and set the stage for easier and cheaper capital raises going forward. The main takeaway, though, is that crypto market businesses are now in the big leagues. They now have a seat at the traditional capital markets table. This is where the real impact on today’s systems starts. Chain Links The Senate approved by a 53-45 vote the nomination of Gary Gensler as the new chair of the U.S. Securities and Exchange Commission (SEC). TAKEAWAY: It’s now official, and this is good news as Chairman Gensler understands the crypto industry. He has taught courses on it at MIT, and I have personally heard him speak thoughtfully and knowledgeably about some of its more complicated aspects. There will no doubt be many of these piling up in his in-tray by the time he first sits at his new desk. Brevan Howard Asset Management , the macro investment firm and part-owner of cryptocurrency hedge fund One River Digital, will invest up to 1.5% of its main fund (worth over $5 billion) in crypto assets, according to Bloomberg. TAKEAWAY: Brevan Howard is a well-known name in European hedge fund circles, and was once one of the largest macro hedge funds in the world. Its direct foray into cryptocurrencies is not a surprise, as last October it took a 25% stake in U.S.-based institutional digital asset fund manager One River Digital Asset Management, and co-founder Alan Howard has backed crypto investment firm CoinShares as well as crypto custodian Komainu . Chicago-based Rothschild Investment Corporation recently bought 265,302 shares of the Grayscale Ethereum Trust (ETHE), and added just under 8,000 shares to its previous Grayscale Bitcoin Trust (GBTC) holding of 30,454 shares. At current prices, its GBTC holding is worth almost $2.0 million, while its ETHE holding is at $6.3 million. TAKEAWAY: It’s not often we come across institutional asset managers that are more heavily invested in ether than in bitcoin , but I wouldn’t be surprised to see more of this going forward. (For an overview of the different investment cases for bitcoin and ether, download our recent report “ Bitcoin + Ether: An Investor’s Perspective ”). Purpose Investments and CI Global Asset Management both received approval to launch an ether ETF on the Toronto Stock Exchange (TSX). TAKEAWAY: In early March, Evolve also filed for an ETH ETF, so we could soon see a third. If this happens soon, this would make three BTC and three ETH ETFs in North America – just not in the U.S., the world’s largest ETF market. [TradeBlock, a unit of CoinDesk, is the index provider for Purpose Investments.] Galaxy Digital has filed with the SEC for a bitcoin ETF. TAKEAWAY: For those keeping score, this makes seven bitcoin ETF applications in front of the SEC, with only two currently under active review (VanEck and WisdomTree). Digital asset manager Grayscale Investments (a subsidiary of DCG, also parent of CoinDesk) has taken an equity stake in ETF issuer ClearShares. TAKEAWAY: Details are scarce (for instance, it’s not clear if Grayscale has a minority or a majority stake), but this seems to confirm Grayscale’s commitment to issuing other types of products. Last week it issued a statement expressing its intention to convert its flagship fund to an ETF when that becomes legally possible. Swiss-based METACO , whose clients include several large banks, is building an offering of decentralized finance and staking services for its institutional clients. TAKEAWAY: This is one of several signs we have started seeing recently of growing traditional finance in DeFi, beyond the potential profit in holding the relevant tokens. Decentralized finance may seem like the antithesis of the centralized financial services banks offer, but it appears that some appreciate the potential market expansion and cost reduction enabled by some of these new platforms. Furthermore, we are likely to see a growing interest from banks in staking (the equivalent of mining on proof-of-stake blockchains), as it offers a yield unavailable in mainstream markets. Asset manager WisdomTree Investments has listed its bitcoin ETP on Deutsche Boerse’s Xetra market, under the ticker “WBIT.” TAKEAWAY: We have seen such a wide range of ETPs list on European exchanges so far this year ( Ethereum , litecoin , bitcoin cash , polkadot ) that it’s almost surprising to see another bitcoin one join the growing ranks. Related Stories Crypto Long & Short: Coinbase Going Public Isn’t Selling Out – It’s the Start of a Long Game Crypto Long & Short: Coinbase Going Public Isn’t Selling Out – It’s the Start of a Long Game \|\| Crypto Long & Short: Coinbase Going Public Isn’t Selling Out – It’s the Start of a Long Game: After a dramatic week in which the crypto industry’s eyes were onCoinbase’s Nasdaq debut, it’s time to step back and reflect. Plenty of pixels and airtime have already been beamed. Plenty of analysis has been performed about the valuation and growth outlook. But not enough has been said about what I think is the long game. Somehave wonderedif Brian Armstrong, Coinbase’s CEO and co-founder, is “selling out” by going public. A business that was built around an asset group created to eliminate the need for centralized gatekeepers ends up joining the centralized system. Howcouldhe? You’re readingCrypto Long & Short, a newsletter that looks closely at the forces driving cryptocurrency markets. Authored by CoinDesk’s head of research, Noelle Acheson, it goes out every Sunday and offers a recap of the week – with insights and analysis – from a professional investor’s point of view.You can subscribe here. Related:Consolidations Are Coming to Crypto I don’t think Coinbase going public is contradictory at all. Look deeper, and you see a strategic move to influence the system from within. By joining the ranks of listed companies, Coinbase is now part of the traditional financial establishment. Only, it’s not, really. It still is a business premised on assets that do not function like traditional assets, and that permit a level and speed of innovation unlike any before in the financial industry. It is still, through and through, a crypto business. This is more far-reaching than it sounds: It’s not just about providing a platform for the buying and selling of crypto tokens. That’s significant, and currentlyaccounts for 96%of Coinbase’s net revenue. But it’s “just” the on-ramp. It provides a relatively easy way for new investors to take their first steps into crypto – but it won’t change traditional markets. Related:Meltem Demirors at Consensus: Distributed Coinbase’s commitment to capital markets reform can be seen in a couple of recent announcements. Earlier this month, Coinbasejoined forces withFidelity, Square and others to form the Crypto Council for Innovation, which will lobby policy makers to support the growing crypto asset industry. A couple of days later, Coinbaseannounced that it was joiningthe DeFi Alliance, an organization that supports decentralized finance (DeFi) startups with guidance around regulations and market operations. Institutions areincreasingly recognizingthat DeFi could impact established processes, but theygenerally regard itas being too “out there” to be a meaningful threat. Imagine a large cap company actively promoting DeFi services, showing off their advantages and convincing other large cap companies that the operational benefit is worth the risk and the cost. Since money speaks louder than words, let’s look at some of Coinbase’s recent investments. In January, Coinbaseacquired Bison Trails, a startup focused onstaking services, to expand into the infrastructure-as-a-service segment. This isn’t just any type of infrastructure, though. Staking is based on a new type of consensus protocol, in which the stakeholders of a network (those that hold the assets) vote on transaction validation and other governance issues. In exchange for locking up theiretherholdings, stakers earn a yield. In the case of the Beacon chain, Ethereum’s beta transition towards a full proof-of-stake blockchain, this yield can beas much as11% annually. The Bison Trails acquisition is said to be one of Coinbase’s largest to date, which suggests that they will be looking to leverage this beyond simply offering clients access to yield opportunities. Staking exists as an incentive to actively participate in a network’s governance. The key word here is “incentive.” We saw this week how themedian CEO payin the U.S. jumped 7% to $13.7 million at a time whenGDP slumpedandunemployment soared. The main reason is that top executive compensation is increasingly linked to stock market performance, which can skew strategic decisions by moving focus to short-term results and superficial investor-appeasing press releases. Imagine the impact of a top-tier listed company showing stakeholders in other industriesalternative incentive mechanismswith more balanced rewards and greater involvement in the community. Another area to keep an eye on is Coinbase’s actual and potential investments in tokenized securities. Inthe S-1 filing, the company said (my emphasis): “Shortly following the effectiveness of the registration statement of which this prospectus forms a part, our board of directors will be authorized, subject to limitations prescribed by Delaware law, to issue common stock in one or more series …in the form of blockchain-based tokens.” [emphasis added] This is a powerful and somewhat overlooked statement. The board of directors can do this “without further vote or action” by the company’s stockholders. And bear in mind the company has stakes in several security token platforms and issuers through its venture capital armCoinbase Ventures. Coinbase is not registered as a broker-dealer or alternative trading system (ATS), so it cannot legally trade securities of any type on its main platform. Its subsidiary Coinbase Capital Marketsisan SEC-registered broker-dealer, however, and Coinbase Securities is an SEC-registered ATS, so blockchain-based securities trading could well be on the horizon. Just think of the market buzz if one of Nasdaq’s largest-cap companies issued security tokens, that could trade on its own platform. Nasdaq would effectively be hosting the emergence of a parallel securities market that could end up being significant competition. Talk about changing capital markets from within. And this is the main point: Coinbase did not “sell out.” It took the “revolution” to the castle. On the way, it got its early investors an exit, gave its shareholders liquidity and set the stage for easier and cheaper capital raises going forward. The main takeaway, though, is that crypto market businesses are now in the big leagues. They now have a seat at the traditional capital markets table. This is where the real impact on today’s systems starts. The Senateapproved by a 53-45 votethe nomination ofGary Gensleras the new chair of the U.S. Securities and Exchange Commission (SEC).TAKEAWAY:It’s now official, and this is good news as Chairman Gensler understands the crypto industry. He has taught courses on it at MIT, and I have personally heard him speak thoughtfully and knowledgeably about some of its more complicated aspects. There will no doubt be many of these piling up in his in-tray by the time he first sits at his new desk. Brevan Howard Asset Management, the macro investment firm and part-owner of cryptocurrency hedge fund One River Digital,will invest up to 1.5% of its main fund(worth over $5 billion) in crypto assets, according to Bloomberg.TAKEAWAY:Brevan Howard is a well-known name in European hedge fund circles, andwas once one of thelargest macro hedge funds in the world. Its direct foray into cryptocurrencies is not a surprise, as last October ittook a 25% stakein U.S.-based institutional digital asset fund manager One River Digital Asset Management, and co-founder Alan Howard has backed cryptoinvestment firm CoinSharesas well ascrypto custodian Komainu. Chicago-basedRothschild Investment Corporationrecently bought 265,302 sharesof the Grayscale Ethereum Trust (ETHE), and added just under 8,000 shares to its previous Grayscale Bitcoin Trust (GBTC) holding of 30,454 shares. At current prices, its GBTC holding is worth almost $2.0 million, while its ETHE holding is at $6.3 million.TAKEAWAY:It’s not often we come across institutional asset managers that are more heavily invested in ether than inbitcoin, but I wouldn’t be surprised to see more of this going forward. (For an overview of the different investment cases for bitcoin and ether, download our recent report “Bitcoin + Ether: An Investor’s Perspective”). Purpose InvestmentsandCI Global Asset Managementboth received approvalto launch an ether ETF on the Toronto Stock Exchange (TSX).TAKEAWAY:In early March, Evolve also filed for an ETH ETF, so we could soon see a third. If this happens soon, this would make three BTC and three ETH ETFs in North America – just not in the U.S., the world’s largest ETF market. [TradeBlock, a unit of CoinDesk, is the index provider for Purpose Investments.] Galaxy Digitalhas filed with the SECfor a bitcoin ETF.TAKEAWAY:For those keeping score, this makes seven bitcoin ETF applications in front of the SEC, with only two currently under active review (VanEck and WisdomTree). Digital asset managerGrayscale Investments(a subsidiary of DCG, also parent of CoinDesk)has taken an equity stakein ETF issuer ClearShares.TAKEAWAY:Details are scarce (for instance, it’s not clear if Grayscale has a minority or a majority stake), but this seems to confirm Grayscale’s commitment to issuing other types of products. Last week it issued a statement expressing its intention to convert its flagship fund to an ETF when that becomes legally possible. Swiss-basedMETACO, whose clients include several large banks,is building an offeringof decentralized finance and staking services for its institutional clients.TAKEAWAY:This is one of several signs we have started seeing recently of growing traditional finance in DeFi, beyond the potential profit in holding the relevant tokens. Decentralized finance may seem like the antithesis of the centralized financial services banks offer, but it appears that some appreciate the potential market expansion and cost reduction enabled by some of these new platforms. Furthermore, we are likely to see a growing interest from banks in staking (the equivalent of mining on proof-of-stake blockchains), as it offers a yield unavailable in mainstream markets. Asset managerWisdomTree Investmentshas listed its bitcoin ETPon Deutsche Boerse’s Xetra market, under the ticker “WBIT.”TAKEAWAY:We have seen such a wide range of ETPs list on European exchanges so far this year (Ethereum,litecoin,bitcoin cash,polkadot) that it’s almost surprising to see another bitcoin one join the growing ranks. • Crypto Long & Short: Coinbase Going Public Isn’t Selling Out – It’s the Start of a Long Game • Crypto Long & Short: Coinbase Going Public Isn’t Selling Out – It’s the Start of a Long Game \|\| Dogecoin Exceeds $11 Billion Market Cap as Coinbase Launches IPO: The cryptocurrency that started as a joke in 2013 based on a Shibu Inu meme gained 54% Tuesday to reach a value of $0.11, making each Dogecoin worth more than a full U.S. dime, based on CoinDesk statistics. Earlier in the day, Doge hit $0.12. That figure represents an all-time high for the crypto touted bycelebrities Elon Musk and Snoop Dogg, Business Insider writes. See:Coinbase, the Largest US Cryptocurrency Exchange, Goes Public – ‘It Will Infect the Financial Universe with a Bad Case of FOMO’Find:Musk Tweets Again and Dogecoin – a Bitcoin Rival – Skyrockets Doge started the day at 0.07. The rally brings Dogecoin’s market capitalization up to $14.63 billion at the end of the day, with a trading volume of $9.96 billion, according to CoinBase. Experts say that CoinBase’s direct initial public offering planned for Wednesday has driven the price of most crypto coins up, with Business Insider calling it “a significant milestone for the cryptocurrency space.” “One of the things that’s interesting about doge is that whenever there’s kind of excitement around cryptocurrency, people who don’t really know a lot about cryptocurrencies get pulled into the doge ecosystem,” said Adam Levine, managing director of podcasts and audio at Coindesk, in a Business Insider article. “And that’s partly because it’s cute, and it’s not intimidating. It’s partly because the tokens are very cheap.” Of course, celebrity endorsements on social media don’t hurt. Oddly, however, billionaire Tesla and SpaceX CEO Elon Musk has stayed quiet about Dogecoin’s status in recent days, despite crypto supporters on Twitter tagging Musk. See:Elon Musk Alive, Well and Planning to Incorporate a City in TexasFind:Mark Cuban’s Mavericks Will Accept Dogecoin Payments for Tickets and Merch, ‘Because We Can’ The account @DogecoinRise wrote: “We Deserve A @elonmusk Tweet,” when Doge hit ten cents. Others thanked Musk for helping the crypto get where it is today. Twitter user @itsALLrisky resurrected the old “Guy Holds in a Fart” meme to share what it’s like “waiting for @ElonMusk to tweet about #Dogecoin.” Experts told Business Insider that “momentum” could send Dogecoin even higher as the crypto market continues to gain.With so many factors working in favor of cryptocurrency in general, the internet-famous “meme coin” could continue to rise without any Dogecoin memes from Musk. More From GOBankingRates • Don’t Miss Out on Nominating Your Favorite Small Business To Be Featured on GOBankingRates — Ends May 31 • Everything You Need To Know About Taxes This Year • What Income Level Is Considered Middle Class in Your State? • The Average Retirement Age in Every State This article originally appeared onGOBankingRates.com:Dogecoin Exceeds $11 Billion Market Cap as Coinbase Launches IPO \|\| Dogecoin Exceeds $11 Billion Market Cap as Coinbase Launches IPO: Julien Viry / Getty Images The cryptocurrency that started as a joke in 2013 based on a Shibu Inu meme gained 54% Tuesday to reach a value of $0.11, making each Dogecoin worth more than a full U.S. dime, based on CoinDesk statistics. Earlier in the day, Doge hit $0.12. That figure represents an all-time high for the crypto touted by celebrities Elon Musk and Snoop Dogg , Business Insider writes. See: Coinbase, the Largest US Cryptocurrency Exchange, Goes Public – ‘It Will Infect the Financial Universe with a Bad Case of FOMO’ Find: Musk Tweets Again and Dogecoin – a Bitcoin Rival – Skyrockets Doge started the day at 0.07. The rally brings Dogecoin’s market capitalization up to $14.63 billion at the end of the day, with a trading volume of $9.96 billion, according to CoinBase. Experts say that CoinBase’s direct initial public offering planned for Wednesday has driven the price of most crypto coins up, with Business Insider calling it “a significant milestone for the cryptocurrency space.” “One of the things that’s interesting about doge is that whenever there’s kind of excitement around cryptocurrency, people who don’t really know a lot about cryptocurrencies get pulled into the doge ecosystem,” said Adam Levine, managing director of podcasts and audio at Coindesk, in a Business Insider article. “And that’s partly because it’s cute, and it’s not intimidating. It’s partly because the tokens are very cheap.” Of course, celebrity endorsements on social media don’t hurt. Oddly, however, billionaire Tesla and SpaceX CEO Elon Musk has stayed quiet about Dogecoin’s status in recent days, despite crypto supporters on Twitter tagging Musk. See: Elon Musk Alive, Well and Planning to Incorporate a City in Texas Find: Mark Cuban’s Mavericks Will Accept Dogecoin Payments for Tickets and Merch, ‘Because We Can’ The account @DogecoinRise wrote: “We Deserve A @elonmusk Tweet,” when Doge hit ten cents. We Deserve A @elonmusk Tweet. $0.10 #DogecoinRise ???????????? — Dogecoin Rise ???????????????????? (@DogecoinRise) April 14, 2021 Others thanked Musk for helping the crypto get where it is today. Story continues Twitter user @itsALLrisky resurrected the old “Guy Holds in a Fart” meme to share what it’s like “waiting for @ElonMusk to tweet about #Dogecoin.” Experts told Business Insider that “momentum” could send Dogecoin even higher as the crypto market continues to gain. With so many factors working in favor of cryptocurrency in general, the internet-famous “meme coin” could continue to rise without any Dogecoin memes from Musk. More From GOBankingRates Don’t Miss Out on Nominating Your Favorite Small Business To Be Featured on GOBankingRates — Ends May 31 Everything You Need To Know About Taxes This Year What Income Level Is Considered Middle Class in Your State? The Average Retirement Age in Every State This article originally appeared on GOBankingRates.com : Dogecoin Exceeds $11 Billion Market Cap as Coinbase Launches IPO \|\| A Cryptocurrency, A Big Board Name, And A Penny Stock Look Bullish Going Into The Week: The SPDR S&P 500 ETF Trust (NYSE: SPY ) and Bitcoin (CRYPTO: BTC) made new highs last week of $417.91 and $64,896.75, respectively, while small and midcap stocks trading on smaller exchanges took a pause. Although Bitcoin has consolidated over the weekend, indicating the SPDR S&P 500 ETF and the Nasdaq may need some consolidation in the coming days, Ethereum (CRYPTO: ETH), Snowflake Inc (NYSE: SNOW ) and Biomark Diagnostics Inc. (OTC: BMKDF ) look bullish going into the week. Related Link: Bitcoin Plunges, Taking Other Cryptocurrencies With It The Ethereum Chart: Ethereum made a new all-time high of $2548.53 April 15 and has since consolidated. On Sunday, Ethereum retraced to a daily support level at $1935.44 and bounced sharply, regaining a higher daily support level at $2,150, which aligns with the 21-day exponential moving average (EMA). Although Ethereum is trading below the eight-day EMA, the eight-day EMA is still trending above the 21-day EMA, making for an overall bullish picture. Bulls want to see Ethereum continue to hold the $2,500 support level and the 21-day EMA. They also want see it consolidate healthily near all-time highs while it collects enough volume to push it back towards all-time highs. Bears want to see sustained bear volume to push Ethereum back down below its $2,500 support level. If Ethereum can’t hold that support level, it could retest the $1,935 mark and eventually force the eight-day EMA to cross below the 21-day EMA. If that happens, it could push Ethereum down further towards the $1,824 area. eth_april_18.png The Snowflake Chart: Snowflake has retraced 45% from its all-time high of $429 made on Dec. 8, 2020. The stock has fallen into a bullish falling wedge pattern, however, and on April 13 made a bullish break up from it. Snowflake’s stock is trading on both the eight-day and 21-day EMAs and bullish volume, with even a slight move up in share price, would cause the eight-day EMA to cross above the 21-day EMA, which would be bullish. Declining bear volume on the daily chart shows the stock is running out of sellers, which is also a bullish sign. Story continues Learn more: Technical Analysis Bulls want to see bull volume come into Snowflake’s stock and for it to push off the $232.74 support it is trading at to make a move towards its next resistance level at $255.25. If the stock can reclaim that level, it could move towards the $270 mark. Bears want to see Snowflake’s stock lose support at the $232 area, which could see it fall down to the stock’s next level of support around $213. snow_april_18.png The Biomark Chart: After reaching an all-time high of 42 cents on March 17, Biomark’s stock settled into two bullish patters — a daily bull flag and a daily symmetrical triangle — before breaking bullish on Friday and making a new all-time high on large bull volume. Biomark’s stock is trading above both the eight- and 21-day EMA, which is a bullish sign, and, although somewhat extended from them, the two commonly followed EMAs made an abrupt upward turn on Friday to try and catch up. Bulls want to see sustained bullish volume in Biomark’s stock for it to continue its run in all-time highs as there is no price history resistance. Bulls could wait for a retest of the previous all-time high of 42 cents to see if the stock holds above. Bears want to see bull volume drop off and for Biomark’s stock to lose support at the 42-cent level, which could see the stock drop back down to 35 cents. If Biomark can’t hold support there, it has room to drop further towards the 32-cent area. bmkdf_april_18.png Related Link: 3 Cancer Diagnostic Stocks To Watch Following Roche's GenMark Buy ETH, SNOW and BMKDF Price Action: Etherium was trading at $2170.05 at publication. Snowflake closed at $232.74 on Friday, and Biomark's stock closed at 45 cents. See more from Benzinga Click here for options trades from Benzinga QuantumScape Stock Falls After Pump-And-Dump Accusations: A Technical Analysis Who Let The Doge Out And Where Is The Cryptocurrency Headed Next? © 2021 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. \|\| A Cryptocurrency, A Big Board Name, And A Penny Stock Look Bullish Going Into The Week: TheSPDR S&P 500 ETF Trust(NYSE:SPY) andBitcoin(CRYPTO: BTC) made new highs last week of $417.91 and $64,896.75, respectively, while small and midcap stocks trading on smaller exchanges took a pause. Although Bitcoin has consolidated over the weekend, indicating the SPDR S&P 500 ETF and the Nasdaq may need some consolidation in the coming days,Ethereum(CRYPTO: ETH),Snowflake Inc(NYSE:SNOW) andBiomark Diagnostics Inc.(OTC:BMKDF) look bullish going into the week. Related Link:Bitcoin Plunges, Taking Other Cryptocurrencies With It The Ethereum Chart:Ethereum made a new all-time high of $2548.53 April 15 and has since consolidated. On Sunday, Ethereum retraced to a daily support level at $1935.44 and bounced sharply, regaining a higher daily support level at $2,150, which aligns with the 21-day exponential moving average (EMA). Although Ethereum is trading below the eight-day EMA, the eight-day EMA is still trending above the 21-day EMA, making for an overall bullish picture. Bulls want to see Ethereum continue to hold the $2,500 support level and the 21-day EMA. They also want see it consolidate healthily near all-time highs while it collects enough volume to push it back towards all-time highs. Bears want to see sustained bear volume to push Ethereum back down below its $2,500 support level. If Ethereum can’t hold that support level, it could retest the $1,935 mark and eventually force the eight-day EMA to cross below the 21-day EMA. If that happens, it could push Ethereum down further towards the $1,824 area. The Snowflake Chart:Snowflake has retraced 45% from its all-time high of $429 made on Dec. 8, 2020. The stock has fallen into a bullish falling wedge pattern, however, and on April 13 made a bullish break up from it. Snowflake’s stock is trading on both the eight-day and 21-day EMAs and bullish volume, with even a slight move up in share price, would cause the eight-day EMA to cross above the 21-day EMA, which would be bullish. Declining bear volume on the daily chart shows the stock is running out of sellers, which is also a bullish sign. Learn more:Technical Analysis Bulls want to see bull volume come into Snowflake’s stock and for it to push off the $232.74 support it is trading at to make a move towards its next resistance level at $255.25. If the stock can reclaim that level, it could move towards the $270 mark. Bears want to see Snowflake’s stock lose support at the $232 area, which could see it fall down to the stock’s next level of support around $213. The Biomark Chart:After reaching an all-time high of 42 cents on March 17, Biomark’s stock settled into two bullish patters — a daily bull flag and a daily symmetrical triangle — before breaking bullish on Friday and making a new all-time high on large bull volume. Biomark’s stock is trading above both the eight- and 21-day EMA, which is a bullish sign, and, although somewhat extended from them, the two commonly followed EMAs made an abrupt upward turn on Friday to try and catch up. Bulls want to see sustained bullish volume in Biomark’s stock for it to continue its run in all-time highs as there is no price history resistance. Bulls could wait for a retest of the previous all-time high of 42 cents to see if the stock holds above. Bears want to see bull volume drop off and for Biomark’s stock to lose support at the 42-cent level, which could see the stock drop back down to 35 cents. If Biomark can’t hold support there, it has room to drop further towards the 32-cent area. Related Link:3 Cancer Diagnostic Stocks To Watch Following Roche's GenMark Buy ETH, SNOW and BMKDF Price Action:Etherium was trading at $2170.05 at publication. Snowflake closed at $232.74 on Friday, and Biomark's stock closed at 45 cents. See more from Benzinga • Click here for options trades from Benzinga • QuantumScape Stock Falls After Pump-And-Dump Accusations: A Technical Analysis • Who Let The Doge Out And Where Is The Cryptocurrency Headed Next? © 2021 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. \|\| If Bitcoin Starts Closing Below the 50-Day SMA It May Mean Deeper Pullback Ahead: Bitcoinfell sharply on Sunday, dipping well below the 50-day simple moving average (SMA) support for the first time in six months. While the decline looks typical of a bull market correction, it could be extended further if prices find acceptance under the 50-day SMA, according to one analyst. “The loss of [bullish] momentum is only short term in nature, but we would view consecutive closes below the 50-day SMA as a reason to move to the sidelines,” Katie Stockton, technical analyst and managing partner of Fairlead Strategies, told CoinDesk in an email. Related:Meghnad Desai at Consensus: Distributed Bitcoin is currently trading near $55,150 on Coinbase,having droppedby roughly $8,000 to $52,148 during the Asian daylight hours. The 50-day SMA is located at $56,283. According to Katie, back-to-back daily closes (23:59 UTC) below the SMA support would open the doors for the former resistance-turned-support near $42,000 (January high). The 50-day SMA is one of the most widely-tracked averages along with the 100- and 200-day SMAs. As such, violation of these SMA supports often invites stronger chart-driven selling. Theoretically, the concept of daily close does not apply to crypto markets, as it is functional 24/7, unlike stock markets, which are open only for limited hours during weekdays. Related:Meltem Demirors at Consensus: Distributed However, TradingView and other chart software open the new daily candle at 00:00 UTC, allowing technical analysts to assess the strength/weakness in the market depending on the daily open, high, low, and closing prices. Despite the retreat from record highs seen earlier this week, bitcoin is still up 90% on a year-to-date basis, and the path of least resistance remains to the higher side. “We believe the pullback is counter-trend, rather than the start of a bearish reversal because it follows a confirmed breakout to new highs,” Stockton said, adding that the cryptocurrency will remain on the hunt for $69,000 even if we see a deeper drawdown below the 50-day SMA. Also read:Spate of Old, Wrong or Dubious ‘News’ Spooks Rookie Investors, Fuels Crypto Selloff • If Bitcoin Starts Closing Below the 50-Day SMA It May Mean Deeper Pullback Ahead • If Bitcoin Starts Closing Below the 50-Day SMA It May Mean Deeper Pullback Ahead \|\| If Bitcoin Starts Closing Below the 50-Day SMA It May Mean Deeper Pullback Ahead: Bitcoin fell sharply on Sunday, dipping well below the 50-day simple moving average (SMA) support for the first time in six months. While the decline looks typical of a bull market correction, it could be extended further if prices find acceptance under the 50-day SMA, according to one analyst. The loss of [bullish] momentum is only short term in nature, but we would view consecutive closes below the 50-day SMA as a reason to move to the sidelines, Katie Stockton, technical analyst and managing partner of Fairlead Strategies, told CoinDesk in an email. Related: Meghnad Desai at Consensus: Distributed Bitcoin is currently trading near $55,150 on Coinbase, having dropped by roughly $8,000 to $52,148 during the Asian daylight hours. The 50-day SMA is located at $56,283. According to Katie, back-to-back daily closes (23:59 UTC) below the SMA support would open the doors for the former resistance-turned-support near $42,000 (January high). The 50-day SMA is one of the most widely-tracked averages along with the 100- and 200-day SMAs. As such, violation of these SMA supports often invites stronger chart-driven selling. Theoretically, the concept of daily close does not apply to crypto markets, as it is functional 24/7, unlike stock markets, which are open only for limited hours during weekdays. Related: Meltem Demirors at Consensus: Distributed However, TradingView and other chart software open the new daily candle at 00:00 UTC, allowing technical analysts to assess the strength/weakness in the market depending on the daily open, high, low, and closing prices. Despite the retreat from record highs seen earlier this week, bitcoin is still up 90% on a year-to-date basis, and the path of least resistance remains to the higher side. We believe the pullback is counter-trend, rather than the start of a bearish reversal because it follows a confirmed breakout to new highs, Stockton said, adding that the cryptocurrency will remain on the hunt for $69,000 even if we see a deeper drawdown below the 50-day SMA. Story continues Also read: Spate of Old, Wrong or Dubious News Spooks Rookie Investors, Fuels Crypto Selloff Related Stories If Bitcoin Starts Closing Below the 50-Day SMA It May Mean Deeper Pullback Ahead If Bitcoin Starts Closing Below the 50-Day SMA It May Mean Deeper Pullback Ahead \|\| If Bitcoin Starts Closing Below the 50-Day SMA It May Mean Deeper Pullback Ahead: Bitcoinfell sharply on Sunday, dipping well below the 50-day simple moving average (SMA) support for the first time in six months. While the decline looks typical of a bull market correction, it could be extended further if prices find acceptance under the 50-day SMA, according to one analyst. “The loss of [bullish] momentum is only short term in nature, but we would view consecutive closes below the 50-day SMA as a reason to move to the sidelines,” Katie Stockton, technical analyst and managing partner of Fairlead Strategies, told CoinDesk in an email. Related:Meghnad Desai at Consensus: Distributed Bitcoin is currently trading near $55,150 on Coinbase,having droppedby roughly $8,000 to $52,148 during the Asian daylight hours. The 50-day SMA is located at $56,283. According to Katie, back-to-back daily closes (23:59 UTC) below the SMA support would open the doors for the former resistance-turned-support near $42,000 (January high). The 50-day SMA is one of the most widely-tracked averages along with the 100- and 200-day SMAs. As such, violation of these SMA supports often invites stronger chart-driven selling. Theoretically, the concept of daily close does not apply to crypto markets, as it is functional 24/7, unlike stock markets, which are open only for limited hours during weekdays. Related:Meltem Demirors at Consensus: Distributed However, TradingView and other chart software open the new daily candle at 00:00 UTC, allowing technical analysts to assess the strength/weakness in the market depending on the daily open, high, low, and closing prices. Despite the retreat from record highs seen earlier this week, bitcoin is still up 90% on a year-to-date basis, and the path of least resistance remains to the higher side. “We believe the pullback is counter-trend, rather than the start of a bearish reversal because it follows a confirmed breakout to new highs,” Stockton said, adding that the cryptocurrency will remain on the hunt for $69,000 even if we see a deeper drawdown below the 50-day SMA. Also read:Spate of Old, Wrong or Dubious ‘News’ Spooks Rookie Investors, Fuels Crypto Selloff • If Bitcoin Starts Closing Below the 50-Day SMA It May Mean Deeper Pullback Ahead • If Bitcoin Starts Closing Below the 50-Day SMA It May Mean Deeper Pullback Ahead \|\| ‘Popularity of NFTs Shows People Are Ready to Work With Crypto’ — The Week in Quotes: This week in quotes, BeInCrypto looks at several key topics related to the cryptocurrency market. This past week was an important time for the cryptocurrency markets. As it saw the launch of the Coinbase public listing on the Nasdaq. The move is a step in the right direction as cryptocurrencies look to become more legitimate and user friendly. This week saw some key figures in the industry discussing their thoughts on mass adoption, central bank digital currencies, NFTs, and accepting bitcoin in the future. “As the largest and most public-facing American crypto business, Coinbase’s listing brings further publicity and legitimacy to the entire industry. Coinbase acts as a gateway to crypto for many retail investors, and the goal for DeFi projects is to now convert that attention into users,” Rachid Ajaja, CEO and co-founder of AllianceBlock, onCoinbase IPO. “I believe technology is constantly evolving, and the technology that they’re using currently might become outdated. It might even hinder further technological innovation,” Kazushige Kamiyama, head of the BOJ payment systems department,on digital yuan. “NFT tokens have gained such popularity because they’re easy for users to understand. They understand what they’re buying and what its value is. That’s what’s usually missing when one thinks about whether or not to invest in cryptocurrency. The popularity of NFT tokens shows that people are ready and willing to work with cryptocurrency.” “We’re very excited to use the proceeds of this auction to help further our work developing and improving technology that can protect journalists and their sources, like SecureDrop, our open-source whistleblower submission system,” Trevor Timm, Freedom of the Press Foundation executive director, onEdward Snowden auctioning an NFTcalled “Stay Free” on the Foundation platform. “The appearance of global spikes in government debts or inflation concerns further increase theimportance of goldin national strategy as a safe-haven asset and as a store of value,” Hungary’s central bankon the gold market. “A digital euro can only be successful if it meets the needs of Europeans. We will do our best to ensure that a digital euro meets the expectations of citizens highlighted in the public consultation,” Fabio Panetta, ECB Executive Board member,speaking about a digital euro. “With the strong support of the DeFi community, strategic advisors and partners onboard, we can provide exposure to reputable projects in the DeFi space while offering the best APY options for our ecosystem participants.” “We need to make sure that the conventional wisdom that is wrong about the illicit use of bitcoin (BTC) doesn’t hold us back from pushing forward the technological changes that are going to allow us to keep pace with China,” Michael Morrell, former acting Director of the U.S. Central Intelligence Agency (CIA),on the use of bitcoin for illicit finance. \|\| ‘Popularity of NFTs Shows People Are Ready to Work With Crypto’ — The Week in Quotes: This week in quotes, BeInCrypto looks at several key topics related to the cryptocurrency market. This past week was an important time for the cryptocurrency markets. As it saw the launch of the Coinbase public listing on the Nasdaq. The move is a step in the right direction as cryptocurrencies look to become more legitimate and user friendly. This week saw some key figures in the industry discussing their thoughts on mass adoption, central bank digital currencies, NFTs, and accepting bitcoin in the future. “As the largest and most public-facing American crypto business, Coinbase’s listing brings further publicity and legitimacy to the entire industry. Coinbase acts as a gateway to crypto for many retail investors, and the goal for DeFi projects is to now convert that attention into users,” Rachid Ajaja, CEO and co-founder of AllianceBlock, on Coinbase IPO . “I believe technology is constantly evolving, and the technology that they’re using currently might become outdated. It might even hinder further technological innovation,” Kazushige Kamiyama, head of the BOJ payment systems department, on digital yuan . “NFT tokens have gained such popularity because they’re easy for users to understand. They understand what they’re buying and what its value is. That’s what’s usually missing when one thinks about whether or not to invest in cryptocurrency. The popularity of NFT tokens shows that people are ready and willing to work with cryptocurrency.” Alexander Althausen, CEO of StormGain, on NFTs . “We’re very excited to use the proceeds of this auction to help further our work developing and improving technology that can protect journalists and their sources, like SecureDrop, our open-source whistleblower submission system,” Trevor Timm, Freedom of the Press Foundation executive director, on Edward Snowden auctioning an NFT called “Stay Free” on the Foundation platform. “The appearance of global spikes in government debts or inflation concerns further increase the importance of gold in national strategy as a safe-haven asset and as a store of value,” Hungary’s central bank on the gold market . Story continues “A digital euro can only be successful if it meets the needs of Europeans. We will do our best to ensure that a digital euro meets the expectations of citizens highlighted in the public consultation,” Fabio Panetta, ECB Executive Board member, speaking about a digital euro . “With the strong support of the DeFi community, strategic advisors and partners onboard, we can provide exposure to reputable projects in the DeFi space while offering the best APY options for our ecosystem participants.” Saeed Hareb Al Darmaki, Middle East-based Sheesha Finance founder, on raising almost $10 million in just two weeks . “We need to make sure that the conventional wisdom that is wrong about the illicit use of bitcoin (BTC) doesn’t hold us back from pushing forward the technological changes that are going to allow us to keep pace with China,” Michael Morrell, former acting Director of the U.S. Central Intelligence Agency (CIA), on the use of bitcoin for illicit finance . \|\| Mike Novogratz Says, ‘Doge Doesn’t Really Have Purpose’, XRP Price Rise ‘Does Not Make Sense’: CEO of Galaxy Investment Partners Mike Novogratz recently commented on Dogecoin and XRP by stating that neither made sense regarding their price increases. Talking to Bloomberg , Novogratz commented on the recent market cycle. He commented on bitcoin (BTC) and ethereum (ETH) and the volatility they are experiencing. The Galaxy Investments CEO stated that volatility will go lower over the years. Novogratz mentioned that people should consider the volatility when investing in cryptocurrencies saying “we expect volatility.” The investment manager continued by talking about altcoins, bringing up dogecoin’s (DOGE) recent surge to a $50 billion market cap. Influenced by billionaires Mark Cuban and Elon Musk , Novogratz called it “frothiness.” Frothiness for altcoin gains evident Comparing DOGE to the recent Gamestop (GME) stock price rise , Novogratz stated, “It is a meme coin..it doesn’t really have a purpose.” Furthermore, Novogratz stated that he “would be very worried if one of his friends were investing in dogecoin at these prices.” Novogratz also commented on the recent price surge related to XRP, calling the recent price rise from $0.40 to $1.60 in a month as a retail frenzy. He stated “it doesn’t make a lot of sense to me,” as he described the sell-off of major cryptocurrencies such as ETH and BTC into altcoins. Novogratz defends XRP comments Novogratz had to defend his comments on XRP, following backlash from the Ripple community, following comments relating to the SEC investigation into Ripple Labs. The fund manager stated in a recent tweet: “Guys. I am not the SEC. I did not bring a lawsuit against Ripple. In fact I am a large shareholder of Ripple since day 1. The SEC has already said ETH is not a security. I understand why ETH is on the move. I don’t get the surge in XRP. What’s so hard to understand?” The Galaxy Investments CEO went on further to back his claims that ethereum is not a security by telling his twitter audience to go “watch Gary Gensler’s lecture series at MIT. It’s on line. He’s pretty clear.” Gensler was recently announced as the new Chair of the U.S. SEC. Gensler has been a huge supporter of cryptocurrencies, offering lectures at MIT on blockchain and crypto. View comments \|\| Mike Novogratz Says, ‘Doge Doesn’t Really Have Purpose’, XRP Price Rise ‘Does Not Make Sense’: CEO of Galaxy Investment Partners Mike Novogratz recently commented on Dogecoin and XRP by stating that neither made sense regarding their price increases. Talking to Bloomberg , Novogratz commented on the recent market cycle. He commented on bitcoin (BTC) and ethereum (ETH) and the volatility they are experiencing. The Galaxy Investments CEO stated that volatility will go lower over the years. Novogratz mentioned that people should consider the volatility when investing in cryptocurrencies saying “we expect volatility.” The investment manager continued by talking about altcoins, bringing up dogecoin’s (DOGE) recent surge to a $50 billion market cap. Influenced by billionaires Mark Cuban and Elon Musk , Novogratz called it “frothiness.” Frothiness for altcoin gains evident Comparing DOGE to the recent Gamestop (GME) stock price rise , Novogratz stated, “It is a meme coin..it doesn’t really have a purpose.” Furthermore, Novogratz stated that he “would be very worried if one of his friends were investing in dogecoin at these prices.” Novogratz also commented on the recent price surge related to XRP, calling the recent price rise from $0.40 to $1.60 in a month as a retail frenzy. He stated “it doesn’t make a lot of sense to me,” as he described the sell-off of major cryptocurrencies such as ETH and BTC into altcoins. Novogratz defends XRP comments Novogratz had to defend his comments on XRP, following backlash from the Ripple community, following comments relating to the SEC investigation into Ripple Labs. The fund manager stated in a recent tweet: “Guys. I am not the SEC. I did not bring a lawsuit against Ripple. In fact I am a large shareholder of Ripple since day 1. The SEC has already said ETH is not a security. I understand why ETH is on the move. I don’t get the surge in XRP. What’s so hard to understand?” The Galaxy Investments CEO went on further to back his claims that ethereum is not a security by telling his twitter audience to go “watch Gary Gensler’s lecture series at MIT. It’s on line. He’s pretty clear.” Gensler was recently announced as the new Chair of the U.S. SEC. Gensler has been a huge supporter of cryptocurrencies, offering lectures at MIT on blockchain and crypto. View comments \|\| Barron's Latest Picks And Pans: Amazon, Coinbase, Disney, Johnson & Johnson And More: This weekend's Barron's cover story discusses why an American entertainment colossus has a bright future. Other featured articles show how proxy season is shaping up, and what the ramifications of the halt on one of the COVID-19 vaccines could be. Also, see the prospects for a pet wellness play, a major auto parts retailer, lumber stocks, EV charging stocks and more. Cover story " Disney's 'Triple Play' Signals a Bright Future " by Jack Hough makes the case that, as Disneyland reopens, bullish investors are counting on parks, TV and the fast-growing streaming business to power Walt Disney Co (NYSE: DIS ) forward under Chief Executive Officer Bob Chapek. Leslie P. Norton's " Proxy Season 2021 Looks Unusually Active, as Investors Press a Range of Concerns " discusses how shareholder resolutions on racial equity, climate change and political spending dominate the stage. Some boards already have agreed to changes. Are Boeing Co (NYSE: BA ) and Exxon Mobil Corporation (NYSE: XOM ) among them? In " A Smart Way to Play the Pet-Care Industry's Boom ," Daren Fonda discusses how Idaho-based PetIQ Inc (NASDAQ: PETQ ) makes and sells pet-health products and operates a fast-growing vet-clinic service. See why Barron's believes its shares look like a rare bargain in the booming pet wellness business. A halt in the rollout of the Johnson & Johnson (NYSE: JNJ ) COVID-19 vaccine won't hinder the U.S. vaccination campaign or the economic recovery, according to " J&J's Vaccine Pause Could Have Ripple Effects for the World " by Josh Nathan-Kazis. Does it raise the risk of the global vaccination effort faltering, though? In Teresa Rivas' " With Americans Driving Again, O'Reilly Automotive Is Poised to Win ," discover how the biggest of the major auto-parts retailers had a bumpy road during the pandemic, but by adding stores and gaining share, O'Reilly Automotive Inc (NASDAQ: ORLY ) looks set to take advantage of a return to normalcy. Story continues " Coinbase Is the Best Way to Play the Bitcoin Boom " by Avi Salzman points out that cryptocurrency platform Coinbase Global Inc (NASDAQ: COIN ) issued stock at an ideal moment, and it started trading at almost exactly a $100 billion valuation. Find out why Barron's thinks that the stock is worth so much more. See also: Benzinga's Bulls And Bears Of The Week: Alphabet, Coinbase, GE, Quantumscape, Tesla And More Some lumber prices are up 50% in the past month. So says Jack Hough's " Lumber Is Through the Roof. We Nail the Stocks. " Barron's "bought a set of wood-chopping tools" and went hunting for stocks. See what Louisiana-Pacific Corporation (NYSE: LPX ) and Weyerhaeuser Co (NYSE: WY ) have to offer investors now. In " 4 Electric-Vehicle Charging Stocks at Fire-Sale Prices ," Al Root reveals why the total market value of electric-vehicle-charging stocks, including ChargePoint Holdings Inc (NYSE: CHPT ), amounts to roughly $15 billion, a tiny fraction of the near-trillion-dollar market valuation of all the EV-maker stocks combined. Eric J. Savitz's " Amazon Can Be a $3 Trillion Company in 3 Years. Here's How " suggests that Amazon.com, Inc. (NASDAQ: AMZN ) is going to get bigger. Maybe a lot bigger. See how Barron's thinks the Amazon Web Services (AWS) subsidiary and advertising will help drive growth despite some near-term challenges. Also in this week's Barron's: The annual Barron's ranking of the top 100 financial advisors and teams Where advisors are finding yields of 4% or more How growing up with no hot water shaped one of the world's most influential investors Whether cryptocurrency can escape the dollar's gravity How today's markets could be beyond irrational exuberance Why sliding bond yields were good for stocks The wild card in the consumer-driven recovery The known unknowns that cast doubt on the fate of stocks Active small-cap funds that are ready to run Why the rebound from China's crackdown on internet giants will be slow What it would take for the S&P 500 to hit 4,500 by year's end Whether CEOs should seek board approval on social justice stances Why autonomous driving is closer than we think Why older Americans are turning to pot for help with ailments At the time of this writing, the author had no position in the mentioned equities. Keep up with all the latest breaking news and trading ideas by following Benzinga on Twitter. See also: How to Buy Amazon Stock See more from Benzinga Click here for options trades from Benzinga Last Week's Notable Insider Buys Included Evergy, StoneMor, Tattooed Chef And More Benzinga's Bulls And Bears Of The Week: Alphabet, Coinbase, GE, Quantumscape, Tesla And More © 2021 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. \|\| Barron's Latest Picks And Pans: Amazon, Coinbase, Disney, Johnson & Johnson And More: • This weekend'sBarron'scover story discusses why an American entertainment colossus has a bright future. • Other featured articles show how proxy season is shaping up, and what the ramifications of the halt on one of the COVID-19 vaccines could be. • Also, see the prospects for a pet wellness play, a major auto parts retailer, lumber stocks, EV charging stocks and more. Cover story "Disney's 'Triple Play' Signals a Bright Future" by Jack Hough makes the case that, as Disneyland reopens, bullish investors are counting on parks, TV and the fast-growing streaming business to powerWalt Disney Co(NYSE:DIS) forward under Chief Executive Officer Bob Chapek. Leslie P. Norton's "Proxy Season 2021 Looks Unusually Active, as Investors Press a Range of Concerns" discusses how shareholder resolutions on racial equity, climate change and political spending dominate the stage. Some boards already have agreed to changes. AreBoeing Co(NYSE:BA) andExxon Mobil Corporation(NYSE:XOM) among them? In "A Smart Way to Play the Pet-Care Industry's Boom," Daren Fonda discusses how Idaho-basedPetIQ Inc(NASDAQ:PETQ) makes and sells pet-health products and operates a fast-growing vet-clinic service. See why Barron's believes its shares look like a rare bargain in the booming pet wellness business. A halt in the rollout of theJohnson & Johnson(NYSE:JNJ) COVID-19 vaccine won't hinder the U.S. vaccination campaign or the economic recovery, according to "J&J's Vaccine Pause Could Have Ripple Effects for the World" by Josh Nathan-Kazis. Does it raise the risk of the global vaccination effort faltering, though? In Teresa Rivas' "With Americans Driving Again, O'Reilly Automotive Is Poised to Win," discover how the biggest of the major auto-parts retailers had a bumpy road during the pandemic, but by adding stores and gaining share,O'Reilly Automotive Inc(NASDAQ:ORLY) looks set to take advantage of a return to normalcy. "Coinbase Is the Best Way to Play the Bitcoin Boom" by Avi Salzman points out that cryptocurrency platformCoinbase Global Inc(NASDAQ:COIN) issued stock at an ideal moment, and it started trading at almost exactly a $100 billion valuation. Find out why Barron's thinks that the stock is worth so much more. See also:Benzinga's Bulls And Bears Of The Week: Alphabet, Coinbase, GE, Quantumscape, Tesla And More Some lumber prices are up 50% in the past month. So says Jack Hough's "Lumber Is Through the Roof. We Nail the Stocks." Barron's "bought a set of wood-chopping tools" and went hunting for stocks. See whatLouisiana-Pacific Corporation(NYSE:LPX) andWeyerhaeuser Co(NYSE:WY) have to offer investors now. In "4 Electric-Vehicle Charging Stocks at Fire-Sale Prices," Al Root reveals why the total market value of electric-vehicle-charging stocks, includingChargePoint Holdings Inc(NYSE:CHPT), amounts to roughly $15 billion, a tiny fraction of the near-trillion-dollar market valuation of all the EV-maker stocks combined. Eric J. Savitz's "Amazon Can Be a $3 Trillion Company in 3 Years. Here's How" suggests thatAmazon.com, Inc.(NASDAQ:AMZN) is going to get bigger. Maybe a lot bigger. See how Barron's thinks the Amazon Web Services (AWS) subsidiary and advertising will help drive growth despite some near-term challenges. Also in this week's Barron's: • The annual Barron's ranking of the top 100 financial advisors and teams • Where advisors are finding yields of 4% or more • How growing up with no hot water shaped one of the world's most influential investors • Whether cryptocurrency can escape the dollar's gravity • How today's markets could be beyond irrational exuberance • Why sliding bond yields were good for stocks • The wild card in the consumer-driven recovery • The known unknowns that cast doubt on the fate of stocks • Active small-cap funds that are ready to run • Why the rebound from China's crackdown on internet giants will be slow • What it would take for the S&P 500 to hit 4,500 by year's end • Whether CEOs should seek board approval on social justice stances • Why autonomous driving is closer than we think • Why older Americans are turning to pot for help with ailments At the time of this writing, the author had no position in the mentioned equities. Keep up with all the latest breaking news and trading ideas by followingBenzingaon Twitter. See also:How to Buy Amazon Stock See more from Benzinga • Click here for options trades from Benzinga • Last Week's Notable Insider Buys Included Evergy, StoneMor, Tattooed Chef And More • Benzinga's Bulls And Bears Of The Week: Alphabet, Coinbase, GE, Quantumscape, Tesla And More © 2021 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. \|\| Bitcoin slumps 14% as pullback from record gathers pace: (Reuters) - Bitcoin, the world's biggest cryptocurrency, fell as much as 14% to $51,541 on Sunday, reversing most of the big gains it made over the past week. Bitcoin was last trading down 10% at $53,991 as of 1320 GMT, a whopping $12,000 below record highs set on Wednesday. Smaller rival Ether, the coin linked to the ethereum blockchain network, dropped 10% to $2,101. Data website CoinMarketCap cited https://coinmarketcap.com/headlines/news/chinas-xinjiang-blackout-and-bitcoin-hashrate-correction-caused-btc-price-crasha blackout in Chinas Xinjiang region, which reportedly powers a lot of bitcoin mining, for the selloff. Luke Sully, CEO at digital asset treasury specialist Ledgermatic, said in an email that people "may have sold on the news of the power outage in China and not the impact it actually had on the network". "The power outage does expose a fundamental weakness; that although the Bitcoin network is decentralized the mining of it is not," Sully added. Some widely-followed blockchain analysts on Twitter pointed to a sharp drop in "hash rate" due to the outage. Hash rate refers to the volatility index that measures the processing capacity of the entire Bitcoin network, and it determines the power required by miners to produce new Bitcoins. "Typically shocks to hash rate do not cause price drops. A hash rate reduction slows transactions, which ironically makes it harder to move coins to exchanges for sale. The recent price drop is well within the bounds of typical volatility, it is noise not signal," said Edan Yago, co-founder at Bitcoin-based decentralised finance protocol Sovryn. The retreat in Bitcoin also comes after Turkey's central bank banned the use of cryptocurrencies for purchases on Friday. Edward Moya, senior market analyst at OANDA, said cryptocurrencies had been ripe for a pullback. "The market has become overly aggressive and bullish on everything," said Edward Moya. "It could have been any bearish headline that could have triggered this reaction." Story continues Many cryptocurrency markets operate 24/7, setting the stage for price swings at unpredictable hours. Historically, retail and day traders have driven the moves. Despite the sudden selloff, bitcoin is still up 89% so far in 2021, driven by its mainstream acceptance as an investment and a means of payment, accompanied by the rush of retail cash into stocks, exchange-traded funds and other risky assets. Cryptocurrencies surge multi-fold from March 2020 lows https://fingfx.thomsonreuters.com/gfx/buzz/yxmvjdbrwvr/Pasted%20image%201618754828394.png (Reporting by Radhika Anilkumar in Bengaluru and Thyagaraju Adinarayan in London; additional reporting by Ira Iosebashvili in New York; Editing by David Clarke and Emelia Sithole-Matarise) \|\| Bitcoin slumps 14% as pullback from record gathers pace: (Reuters) - Bitcoin, the world's biggest cryptocurrency, fell as much as 14% to $51,541 on Sunday, reversing most of the big gains it made over the past week. Bitcoin was last trading down 10% at $53,991 as of 1320 GMT, a whopping $12,000 below record highs set on Wednesday. Smaller rival Ether, the coin linked to the ethereum blockchain network, dropped 10% to $2,101. Data website CoinMarketCap cited https://coinmarketcap.com/headlines/news/chinas-xinjiang-blackout-and-bitcoin-hashrate-correction-caused-btc-price-crasha blackout in China’s Xinjiang region, which reportedly powers a lot of bitcoin mining, for the selloff. Luke Sully, CEO at digital asset treasury specialist Ledgermatic, said in an email that people "may have sold on the news of the power outage in China and not the impact it actually had on the network". "The power outage does expose a fundamental weakness; that although the Bitcoin network is decentralized the mining of it is not," Sully added. Some widely-followed blockchain analysts on Twitter pointed to a sharp drop in "hash rate" due to the outage. Hash rate refers to the volatility index that measures the processing capacity of the entire Bitcoin network, and it determines the power required by miners to produce new Bitcoins. "Typically shocks to hash rate do not cause price drops. A hash rate reduction slows transactions, which ironically makes it harder to move coins to exchanges for sale. The recent price drop is well within the bounds of typical volatility, it is noise not signal," said Edan Yago, co-founder at Bitcoin-based decentralised finance protocol Sovryn. The retreat in Bitcoin also comes after Turkey's central bank banned the use of cryptocurrencies for purchases on Friday. Edward Moya, senior market analyst at OANDA, said cryptocurrencies had been ripe for a pullback. "The market has become overly aggressive and bullish on everything," said Edward Moya. "It could have been any bearish headline that could have triggered this reaction." Many cryptocurrency markets operate 24/7, setting the stage for price swings at unpredictable hours. Historically, retail and day traders have driven the moves. Despite the sudden selloff, bitcoin is still up 89% so far in 2021, driven by its mainstream acceptance as an investment and a means of payment, accompanied by the rush of retail cash into stocks, exchange-traded funds and other risky assets. Cryptocurrencies surge multi-fold from March 2020 lows https://fingfx.thomsonreuters.com/gfx/buzz/yxmvjdbrwvr/Pasted%20image%201618754828394.png (Reporting by Radhika Anilkumar in Bengaluru and Thyagaraju Adinarayan in London; additional reporting by Ira Iosebashvili in New York; Editing by David Clarke and Emelia Sithole-Matarise) \|\| Bitcoin slumps 14% as pullback from record gathers pace: (Reuters) - Bitcoin, the world's biggest cryptocurrency, fell as much as 14% to $51,541 on Sunday, reversing most of the big gains it made over the past week. Bitcoin was last trading down 10% at $53,991 as of 1320 GMT, a whopping $12,000 below record highs set on Wednesday. Smaller rival Ether, the coin linked to the ethereum blockchain network, dropped 10% to $2,101. Data website CoinMarketCap cited https://coinmarketcap.com/headlines/news/chinas-xinjiang-blackout-and-bitcoin-hashrate-correction-caused-btc-price-crasha blackout in China’s Xinjiang region, which reportedly powers a lot of bitcoin mining, for the selloff. Luke Sully, CEO at digital asset treasury specialist Ledgermatic, said in an email that people "may have sold on the news of the power outage in China and not the impact it actually had on the network". "The power outage does expose a fundamental weakness; that although the Bitcoin network is decentralized the mining of it is not," Sully added. Some widely-followed blockchain analysts on Twitter pointed to a sharp drop in "hash rate" due to the outage. Hash rate refers to the volatility index that measures the processing capacity of the entire Bitcoin network, and it determines the power required by miners to produce new Bitcoins. "Typically shocks to hash rate do not cause price drops. A hash rate reduction slows transactions, which ironically makes it harder to move coins to exchanges for sale. The recent price drop is well within the bounds of typical volatility, it is noise not signal," said Edan Yago, co-founder at Bitcoin-based decentralised finance protocol Sovryn. The retreat in Bitcoin also comes after Turkey's central bank banned the use of cryptocurrencies for purchases on Friday. Edward Moya, senior market analyst at OANDA, said cryptocurrencies had been ripe for a pullback. "The market has become overly aggressive and bullish on everything," said Edward Moya. "It could have been any bearish headline that could have triggered this reaction." Many cryptocurrency markets operate 24/7, setting the stage for price swings at unpredictable hours. Historically, retail and day traders have driven the moves. Despite the sudden selloff, bitcoin is still up 89% so far in 2021, driven by its mainstream acceptance as an investment and a means of payment, accompanied by the rush of retail cash into stocks, exchange-traded funds and other risky assets. Cryptocurrencies surge multi-fold from March 2020 lows https://fingfx.thomsonreuters.com/gfx/buzz/yxmvjdbrwvr/Pasted%20image%201618754828394.png (Reporting by Radhika Anilkumar in Bengaluru and Thyagaraju Adinarayan in London; additional reporting by Ira Iosebashvili in New York; Editing by David Clarke and Emelia Sithole-Matarise) \|\| Dogecoin As Payment Option Gains Momentum As 'Meme Currency' Shoots For The Moon: Dogecoin (CYRPTO: DOGE), often branded as a meme coin, saw a meteoric rise last week, hitting a high of 43.77 cents Friday before giving back some of the gains over the weekend. Its rising popularity, thanks in part to the unstinted support of Tesla Inc.'s (NASDAQ: TSLA ) Elon Musk, is pushing the cryptocurrency into the mainstream. Doge Barking at the Moon pic.twitter.com/QFB81D7zOL — Elon Musk (@elonmusk) April 15, 2021 Doge's Heady Gains: At its all-high Friday, the cryptocurrency had tacked on a gain of over 9,200% for the year-to-date period. Doge ended 2020 at 0.47 cents and briefly broke above 1 cent in early 2021. After trading below the 1-cent level for much of January, Doge went on to hit a high of 8.49 cents on Feb. 9, as Musk sent it to the moon with his supportive tweets. Subsequently, Doge began a consolidation move and was largely confined in the range of 5-7 cents. The listing of Coinbase Global, Inc. (NASDAQ: COIN ) last week kickstarted the new momentum and Doge quickly latched onto the optimism and saw a meteoric rise. doge.png Here are some of the companies that have begun accepting Doge as a payment option. easyDN : On Friday, easyDN, a Canadian web hosting provider, said it has begun accepting Doge and has already been accepting Bitcoin (CRYPTO: BTC), Ethereum (CRYPTO: ETH) and Litecoin (CRYPTO: LTC). In a blog post , the company took a dig at Musk, claiming it beat him to the punch. BOTS : OTC-listed BOTS, Inc. (OTC: BTZI ), a robotics company, said Friday it had become one of the first publicly-traded companies to accept Dogecoin as a form of payment for all of its products and services. "Like Bitcoin, Ethereum, and Litecoin, Dogecoin is also a popular cryptocurrency people use to buy and trade," the company said in a release. Related Link: How to Buy Dogecoin (DOGE) Story continues Dallas Mavericks : The Dallas Mavericks, a professional basketball team owned by "Shark Tank" co-host Mark Cuban, announced early this month that its fans can use Dogecoin to buy tickets and merchandise online. "With fans in mind, the Mavs use BitPay to process all cryptocurrency purchases including tickets and merchandise with all top cryptocurrencies including BTC, BCH, ETH, USDC, GUSD, PAX and BUSD and now DOGE," a statement from the Mavericks read. Cuban's reasoning for the adoption reflected the increasing popularity of Doge. "We have chosen to do so because sometimes in business you have to do things that are fun, engaging and hopefully generate a lot of PR," Cuban said. Kessler : Luxury hotel chain Kessler Group said on March 9 it will partner with BitPay to accept Bitcoin, Ethereum, Dogecoin and several other cryptocurrencies including four stable coins as payment to cater to the growing demand, effectively immediately. airBaltic : Latvian airline airBaltic, which has been using Bitcoin as a payment option since 2014, said late March it began accepting other cryptocurrencies like Bitcoin Cash, Ether and Dogecoin among others for bookings made on its website. Amazon To Follow Suit? Amazon.com, Inc. (NASDAQ: AMZN ), which has thus far shied away from using cryptocurrencies as a payment option, is under pressure to rethink its stance. Petitions posted on Change.org seek to get Amazon to accept Dogecoin for payments. One petition so far has more than 114,000 signatures. Related Link: How WallStreetBets, Dogecoin And Elon Musk Brought Out The Investor In An 11th Grader From A Remote City In India See more from Benzinga Click here for options trades from Benzinga What To Expect At The Shanghai Auto Show: Nio, GM, Honda, Toyota and More The Week Ahead In Biotech: Johnson & Johnson, Biogen Earnings, Neurology Conference And IPOs © 2021 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. \|\| Dogecoin As Payment Option Gains Momentum As 'Meme Currency' Shoots For The Moon: Dogecoin(CYRPTO: DOGE), often branded as a meme coin, saw a meteoric rise last week, hitting a high of 43.77 cents Friday before giving back some of the gains over the weekend. Its rising popularity, thanks in part to the unstinted support ofTesla Inc.'s(NASDAQ:TSLA) Elon Musk, is pushing the cryptocurrency into the mainstream. Doge's Heady Gains:At its all-high Friday, the cryptocurrency had tacked on a gain of over 9,200% for the year-to-date period. Doge ended 2020 at 0.47 cents and briefly broke above 1 cent in early 2021. After trading below the 1-cent level for much of January, Doge went on to hit a high of 8.49 cents on Feb. 9, as Musk sent it to the moon with his supportive tweets. Subsequently, Doge began a consolidation move and was largely confined in the range of 5-7 cents. ThelistingofCoinbase Global, Inc.(NASDAQ:COIN) last week kickstarted the new momentum and Doge quickly latched onto the optimism and saw a meteoric rise. Here are some of the companies that have begun accepting Doge as a payment option. easyDN: On Friday, easyDN, a Canadian web hosting provider, said it has begun accepting Doge and has already been accepting Bitcoin (CRYPTO: BTC), Ethereum (CRYPTO: ETH) and Litecoin (CRYPTO: LTC). In ablog post, the company took a dig at Musk, claiming it beat him to the punch. BOTS: OTC-listedBOTS, Inc.(OTC:BTZI), a robotics company, said Friday it had become one of the first publicly-traded companies to accept Dogecoin as a form of payment for all of its products and services. "Like Bitcoin, Ethereum, and Litecoin, Dogecoin is also a popular cryptocurrency people use to buy and trade," the company said in a release. Related Link:How to Buy Dogecoin (DOGE) Dallas Mavericks: The Dallas Mavericks, a professional basketball team owned by "Shark Tank" co-host Mark Cuban, announced early this month that its fans can use Dogecoin to buy tickets and merchandise online. "With fans in mind, the Mavs use BitPay to process all cryptocurrency purchases including tickets and merchandise with all top cryptocurrencies including BTC, BCH, ETH, USDC, GUSD, PAX and BUSD and now DOGE," a statement from the Mavericks read. Cuban's reasoning for the adoption reflected the increasing popularity of Doge. "We have chosen to do so because sometimes in business you have to do things that are fun, engaging and hopefully generate a lot of PR," Cuban said. Kessler: Luxury hotel chain Kessler Group said on March 9 it will partner with BitPay to accept Bitcoin, Ethereum, Dogecoin and several other cryptocurrencies including four stable coins as payment to cater to the growing demand, effectively immediately. airBaltic: Latvian airline airBaltic, which has been using Bitcoin as a payment option since 2014, said late March it began accepting other cryptocurrencies like Bitcoin Cash, Ether and Dogecoin among others for bookings made on its website. Amazon To Follow Suit?Amazon.com, Inc.(NASDAQ:AMZN), which has thus far shied away from using cryptocurrencies as a payment option, is under pressure to rethink its stance. Petitions posted on Change.org seek to get Amazon to accept Dogecoin for payments. One petitionso far has more than 114,000 signatures. Related Link:How WallStreetBets, Dogecoin And Elon Musk Brought Out The Investor In An 11th Grader From A Remote City In India See more from Benzinga • Click here for options trades from Benzinga • What To Expect At The Shanghai Auto Show: Nio, GM, Honda, Toyota and More • The Week Ahead In Biotech: Johnson & Johnson, Biogen Earnings, Neurology Conference And IPOs © 2021 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. [Social Media Buzz] None available.	56473.03, 53906.09, 51762.27, 51093.65, 50050.87, 49004.25, 54021.75, 55033.12, 54824.70, 53555.11
Given the historical Bitcoin prices from the last 90 days, predict the next 10 daily closing prices. The historical prices are: 973.50, 961.24, 963.74, 998.33, 1021.75, 1043.84, 1154.73, 1013.38, 902.20, 908.59, 911.20, 902.83, 907.68, 777.76, 804.83, 823.98, 818.41, 821.80, 831.53, 907.94, 886.62, 899.07, 895.03, 921.79, 924.67, 921.01, 892.69, 901.54, 917.59, 919.75, 921.59, 919.50, 920.38, 970.40, 989.02, 1011.80, 1029.91, 1042.90, 1027.34, 1038.15, 1061.35, 1063.07, 994.38, 988.67, 1004.45, 999.18, 990.64, 1004.55, 1007.48, 1027.44, 1046.21, 1054.42, 1047.87, 1079.98, 1115.30, 1117.44, 1166.72, 1173.68, 1143.84, 1165.20, 1179.97, 1179.97, 1222.50, 1251.01, 1274.99, 1255.15, 1267.12, 1272.83, 1223.54, 1150.00, 1188.49, 1116.72, 1175.83, 1221.38, 1231.92, 1240.00, 1249.61, 1187.81, 1100.23, 973.82, 1036.74, 1054.23, 1120.54, 1049.14, 1038.59, 937.52, 972.78, 966.72, 1045.77, 1047.15.	[Bitcoin Technical Analysis for 2017-03-28] Volume: 326332000, RSI (14-day): 46.52, 50-day EMA: 1078.81, 200-day EMA: 895.07 [Wider Market Context] Gold Price: 1255.30, Gold RSI: 66.71 Oil Price: 48.37, Oil RSI: 39.38 [Recent News (last 7 days)] How New Short Squeeze ETF Can Juice Returns: It’s easy to love the premise of the just-launchedActive Alts Contrarian ETF (SQZZ). Wefirst startedwriting about it 2014, for Pete’s sake: an ETF that deliberately invests in individual stocks that are so out of favor, they’ve been shorted to the point where the mythical short squeeze might occur. The idea is that a stock can get so over-shorted that any positive news causes so much pain to short-sellers that they give up and cover their shorts, driving the price up even further. It’s always fun to be right on something like this, and to be the guy who zigs when the market zags. The challenge, of course, is you have to be more right than the short-sellers. With SQZZ now in the market, I thought it would be interesting to look at what the fund (which is 100% actively managed) is actually doing right now, and whether it’s poised to deliver on the premise. First: About Squeezes For a stock to experience a big pop, you need to have a few things: 1. A lot of people shorting it 2. A news event precipitating the squeeze The first is relatively easy to suss out. Quick and dirty, I ran the short interest on all the NYSE stocks, and you can get a quick list of the stocks people really seem to hate. There are two easy ways to look at it. One is by how much of the float is actually short: The other is by how much is short relative to an average day’s trading volume: This latter number is sometimes referred to as “days-to-trade” because it implies, for instance, that it will take 60 normal trading days to unwind the 4 million shares of Tootsie Roll that are currently short. When a company hits top 10 on both of these lists, you know you’ve got a real winner in the hate-race. Here, Vivint Solar takes the cake, being both 43% short and taking 31 days to theoretically trade out. So what about the news factor? Well, there are some obvious things that can make a short’s day very, very bad: Earnings can beat, the company is announced as a takeover target, and so on. The most recent example I can think of was the day Oprah Winfrey announced she was taking a 10% stake in Weight Watchers in October 2015. The stock was an astonishing 74% short before the announcement, and the stock shot up over 300% as the shorts ran for the doors. Not Just Being Right Taking the other side of the short-sellers bet has a side benefit: If you own a pile of stocks that everyone hates in an ETF, you can often make good money loaning that stock out to short-sellers who will continue the hate. Mechanically, if I own Weight Watchers in my fund, I can make it available for a short-seller to borrow. In return for loaning him my stock, he gives me collateral (generally cash). I take that cash and invest it in something super safe, like a money market fund. If the security is something boring, like Caterpillar—which nobody really hates—I might give some of that interest I get from the money market fund back to the person who borrowed my shares. For instance, someone borrows my CAT shares, I invest the cash collateral they give me in a money market fund paying 0.85%, and I agree to “rebate” 0.65% back to the borrower (that is in fact CAT’s rebate right now, according to my friends at FactSet). Not Riskless, But Self-Contained I pocket, on average, 0.20% over the course of the year for doing this, and if I ever need that CAT back immediately, well, I can recall it at any time. There’s some small risk the borrower will be a deadbeat, but then I have all his cash (generally 104% of the value of the stock loaned), so I can just go buy more. It’s not riskless, but it’s pretty self-contained. But imagine someone comes to me wanting my Weight Watchers stock. Well, since 36% of the float is already short, it’s probably pretty hard to borrow, so instead of rebating them some of my money market interest, I can actually demand they pay me. In the case of Weight Watchers, the rebate is currently reported as being -10.59%, meaning the lender is paid 10.59% of the amount lent by the borrower At the extreme, funds with much-hated stock generate real money from this activity. TheGuggenheim Solar ETF (TAN)has consistently held some of the most hated stocks in the market. As of the fund’s last filing (August 2016), 39% of the fund was out on loan. And the fund earned 3.26% in the 12 months prior, presumably all from lending, since essentially no solar company pays a meaningful dividend. In 2012, they earned over 7% from this. And What About SQZZ? So in fact, there are two ways for SQZZ to make money. First, they can just plain get it right (or be lucky) and catch numerous short squeezes in the portfolio, giving them the chance for significant capital appreciation. At the same time, they can loan out these hated stocks and earn significant income, but if the fund is sitting on cash, that’s not going to happen. With all that in mind, what does the fund actually own? Two things immediately leap out at me here ... First, the fund is 75% in cash. It’s actively managed, so they can do whatever they like, but it strikes me as a pretty-low-conviction start. Of course, next week, the fund could be fully invested, but SQZZ just launched, so it may be that they’re legging into their positions slowly. But for the moment, investors are paying a very hefty expense ratio (1.95%, making it one of the most expensive ETFs on the market) for a giant slug of cash. Sure, that gives the active fund manager flexibility, but if he sits on it for a year, it’s painful. Second, many of the securities here don’t meet any traditional definition of “hated.” There’s Weight Watchers in here, but we also have firms like Oritani Financial, a $750 million regional bank in New Jersey, with just 4% of the float sold short, and that currently has a rebate higher than Disney or Apple. I’m not a bank analyst—maybe there’s some hidden story here that the manager is counting on coming to light. Or maybe they’re just convinced it’s been oversold the past year. But it’s hard to see how it’s going to get “squeezed” or how it’s going to generate any additional income. And what about GE? I’m just not convinced GE is a short-squeeze candidate, with 1% short and two days to trade. I’m not even sure it counts as contrarian, when it’s just 10% under its eight-year high. And with a P/E of 29, I can’t even really come up with a “chronically undervalued/oversold” argument. All About The Manager It’s true with any new ETF idea, the proof will always be in the performance, but in this case, I think that’s doubly so. It’s not the case that SQZZ is a proxy-trade for heavily shorted stocks. It’s not an index fund chasing “shortness” as a factor for investors to make pure contrarian bets. Instead, this is a purely active fund that happens to make contrarian bets that might or might not have anything to do with actual structural short squeezes. I wish them nothing but luck, but investors thinking this was a kind of formulaic bet on squeezes really need to look carefully—and at 1.95%, you better be pretty convinced the manager’s going to shoot the lights. Note: I actually did call to get some reaction today, but as of this writing, they hadn’t returned any calls. At the time of writing, the author held no positions in the securities mentioned. You can contact Dave Nadig [email protected]. Recommended Stories • How New Short Squeeze ETF Can Juice Returns • Swedroe: Private Equity Adds Risk, Little Return • How Hedge Funds Use ETFs • Bitcoin ETFs For Dummies • The Most Interesting New Gold ETF Since GLD Permalink\| © Copyright 2017ETF.com.All rights reserved \|\| How New Short Squeeze ETF Can Juice Returns: Its easy to love the premise of the just-launched Active Alts Contrarian ETF (SQZZ) . We first started writing about it 2014, for Petes sake: an ETF that deliberately invests in individual stocks that are so out of favor, theyve been shorted to the point where the mythical short squeeze might occur. The idea is that a stock can get so over-shorted that any positive news causes so much pain to short-sellers that they give up and cover their shorts, driving the price up even further. Its always fun to be right on something like this, and to be the guy who zigs when the market zags. The challenge, of course, is you have to be more right than the short-sellers. With SQZZ now in the market, I thought it would be interesting to look at what the fund (which is 100% actively managed) is actually doing right now, and whether its poised to deliver on the premise. First: About Squeezes For a stock to experience a big pop, you need to have a few things: A lot of people shorting it A news event precipitating the squeeze The first is relatively easy to suss out. Quick and dirty, I ran the short interest on all the NYSE stocks, and you can get a quick list of the stocks people really seem to hate. There are two easy ways to look at it. One is by how much of the float is actually short: The other is by how much is short relative to an average days trading volume: This latter number is sometimes referred to as days-to-trade because it implies, for instance, that it will take 60 normal trading days to unwind the 4 million shares of Tootsie Roll that are currently short. When a company hits top 10 on both of these lists, you know youve got a real winner in the hate-race. Here, Vivint Solar takes the cake, being both 43% short and taking 31 days to theoretically trade out. So what about the news factor? Well, there are some obvious things that can make a shorts day very, very bad: Earnings can beat, the company is announced as a takeover target, and so on. Story continues The most recent example I can think of was the day Oprah Winfrey announced she was taking a 10% stake in Weight Watchers in October 2015. The stock was an astonishing 74% short before the announcement, and the stock shot up over 300% as the shorts ran for the doors. Not Just Being Right Taking the other side of the short-sellers bet has a side benefit: If you own a pile of stocks that everyone hates in an ETF, you can often make good money loaning that stock out to short-sellers who will continue the hate. Mechanically, if I own Weight Watchers in my fund, I can make it available for a short-seller to borrow. In return for loaning him my stock, he gives me collateral (generally cash). I take that cash and invest it in something super safe, like a money market fund. If the security is something boring, like Caterpillarwhich nobody really hatesI might give some of that interest I get from the money market fund back to the person who borrowed my shares. For instance, someone borrows my CAT shares, I invest the cash collateral they give me in a money market fund paying 0.85%, and I agree to rebate 0.65% back to the borrower (that is in fact CATs rebate right now, according to my friends at FactSet). Not Riskless, But Self-Contained I pocket, on average, 0.20% over the course of the year for doing this, and if I ever need that CAT back immediately, well, I can recall it at any time. Theres some small risk the borrower will be a deadbeat, but then I have all his cash (generally 104% of the value of the stock loaned), so I can just go buy more. Its not riskless, but its pretty self-contained. But imagine someone comes to me wanting my Weight Watchers stock. Well, since 36% of the float is already short, its probably pretty hard to borrow, so instead of rebating them some of my money market interest, I can actually demand they pay me. In the case of Weight Watchers, the rebate is currently reported as being -10.59%, meaning the lender is paid 10.59% of the amount lent by the borrower At the extreme, funds with much-hated stock generate real money from this activity. The Guggenheim Solar ETF (TAN) has consistently held some of the most hated stocks in the market. As of the funds last filing (August 2016), 39% of the fund was out on loan. And the fund earned 3.26% in the 12 months prior, presumably all from lending, since essentially no solar company pays a meaningful dividend. In 2012, they earned over 7% from this. And What About SQZZ? So in fact, there are two ways for SQZZ to make money. First, they can just plain get it right (or be lucky) and catch numerous short squeezes in the portfolio, giving them the chance for significant capital appreciation. At the same time, they can loan out these hated stocks and earn significant income, but if the fund is sitting on cash, thats not going to happen. With all that in mind, what does the fund actually own? Two things immediately leap out at me here ... First, the fund is 75% in cash. Its actively managed, so they can do whatever they like, but it strikes me as a pretty-low-conviction start. Of course, next week, the fund could be fully invested, but SQZZ just launched, so it may be that theyre legging into their positions slowly. But for the moment, investors are paying a very hefty expense ratio (1.95%, making it one of the most expensive ETFs on the market) for a giant slug of cash. Sure, that gives the active fund manager flexibility, but if he sits on it for a year, its painful. Second, many of the securities here dont meet any traditional definition of hated. Theres Weight Watchers in here, but we also have firms like Oritani Financial, a $750 million regional bank in New Jersey, with just 4% of the float sold short, and that currently has a rebate higher than Disney or Apple. Im not a bank analystmaybe theres some hidden story here that the manager is counting on coming to light. Or maybe theyre just convinced its been oversold the past year. But its hard to see how its going to get squeezed or how its going to generate any additional income. And what about GE? Im just not convinced GE is a short-squeeze candidate, with 1% short and two days to trade. Im not even sure it counts as contrarian, when its just 10% under its eight-year high. And with a P/E of 29, I cant even really come up with a chronically undervalued/oversold argument. All About The Manager Its true with any new ETF idea, the proof will always be in the performance, but in this case, I think thats doubly so. Its not the case that SQZZ is a proxy-trade for heavily shorted stocks. Its not an index fund chasing shortness as a factor for investors to make pure contrarian bets. Instead, this is a purely active fund that happens to make contrarian bets that might or might not have anything to do with actual structural short squeezes. I wish them nothing but luck, but investors thinking this was a kind of formulaic bet on squeezes really need to look carefullyand at 1.95%, you better be pretty convinced the managers going to shoot the lights. Note: I actually did call to get some reaction today, but as of this writing, they hadnt returned any calls. At the time of writing, the author held no positions in the securities mentioned. You can contact Dave Nadig at [email protected] . Recommended Stories How New Short Squeeze ETF Can Juice Returns Swedroe: Private Equity Adds Risk, Little Return How Hedge Funds Use ETFs Bitcoin ETFs For Dummies The Most Interesting New Gold ETF Since GLD Permalink \| © Copyright 2017 ETF.com. All rights reserved \|\| 3 ETFs For Surprise Drop In The Dollar: One of the most prominent consensus calls heading into 2017 was that the U.S. dollar would head higher during the year. Wall Street analysts were nearly unanimous in their expectation that a Donald Trump presidency would spell only good news for the greenback thanks to stronger growth expectations and higher interest rates. As is often the case, the consensus expectation has proven to be off the mark, at least during the first part of the year. After peaking at a 14-year high late last year, the U.S. Dollar Index has steadily dropped during the first quarter of 2017, and was last trading down 3% year-to-date. Last week's failure by Republicans to pass a health care bill through the House of Representatives was the latest setback for the buck, which had rallied four-straight years, measured by the popular U.S. Dollar Index. Under The Dollar Index Hood That index is heavily influenced by the euro-dollar (EUR/USD) foreign exchange rate, which has a 57.6% weighting in the index basket. That's followed by the dollar-yen (USD/JPY) at 13.6%; the pound-dollar (GBP/USD) at 11.9%; and a few others with smaller weights. [{"Currency": "Euro (EUR)", "Weight": "57.6%"}, {"Currency": "Japanese Yen (JPY)", "Weight": "13.6%"}, {"Currency": "British Pound (GBP)", "Weight": "11.9%"}, {"Currency": "Canadian Dollar (CAD)", "Weight": "9.1%"}, {"Currency": "Swedish Krona (SEK)", "Weight": "4.2%"}, {"Currency": "Swiss Franc (CHF)", "Weight": "3.5%"}] Of course, there are plenty of other currency pairs outside of those in the U.S. Dollar Index basket. The Mexican peso, for example, is up nearly 10% against the greenback after falling to a record low around the time of Trump's inauguration in January. It could be that the peso is rallying simply because it fell too far and too fast. Or it could be that Trump's policies haven't proven to be as detrimental to the Mexican economy as feared. In any case, the point is that currencies across the board are climbing against the dollar, an unexpected development that investors should pay attention to. Here are three ETFs that are poised to benefit if the dollar continues to slide: WisdomTree Emerging Currency Fund (CEW) TheWisdomTree Emerging Currency Fund (CEW)provides exposure to an equal-weighted basket of 15 emerging market currencies and their money market rates. If the dollar decline goes on, emerging market currencies are likely to be some of the biggest beneficiaries. CEW's basket includes the aforementioned Mexican peso, the Brazilian real, the Indian rupee and the Chinese yuan, among others. CEW invests in forward contracts and doesn't pay regular dividends, but it has a chunky implied yield of 4.8%. Year-to-date, the fund is up 5.2% after returning 4.1% last year. YTD Return For CEW, US Dollar Index SPDR Gold Trust (GLD) Widely regarded as a dollar hedge, gold has delivered on its promise this year. TheSPDR Gold Trust (GLD)is up 9% year-to-date, and stands at its highest levels of the year just as the dollar drops to its lowest levels of the year. That's no coincidence. The 120-day correlation between gold prices and the U.S. Dollar Index is about -0.62, the tightest level since 2012 (a correlation of +1 means the two always move in the same direction, while a correlation of -1 means the two always move in opposite directions). If this correlation holds, GLD will continue to be one of the best anti-dollar ETFs available for investors. YTD Return For GLD, US Dollar Index VanEck Vectors J.P. Morgan EM Local Currency Bond ETF (EMLC) TheVanEck Vectors J.P. Morgan EM Local Currency Bond ETF (EMLC)is the second-largest emerging market bond ETF on the market, with $3 billion in assets under management, but it's often been overshadowed by the $9.8 billioniShares JP Morgan USD Emerging Markets Bond ETF (EMB). If the dollar keeps dropping, that could change. The main difference between EMLC and EMB is that the latter invests in dollar-denominated emerging market bonds, while the former invests in local-currency emerging market bonds. When the dollar is rising―as it's mostly done during the last few years―EMB will have superior returns to EMLC as depreciating emerging market currencies take a bite out of returns for the local-currency fund. But if the dollar drops, the opposite will be the case. Appreciating emerging market currencies will add to the returns for EMLC. That's what's happened so far this year, with EMLC up 6.8%, compared to 4% for EMB. If the downturn in the greenback has more room to run, expect more outperformance for EMLC. YTD Returns For EMB, EMLC Contact Sumit Roy [email protected] Recommended Stories • 3 ETFs For Surprise Drop In The Dollar • Emerging Market Local Debt ETFs Shine • Big Bitcoin ETF Decision Coming Today, Or Maybe Not • The Most Interesting New Gold ETF Since GLD • Swedroe: The Nuts & Bolts Of Currencies Permalink\| © Copyright 2017ETF.com.All rights reserved \|\| 3 ETFs For Surprise Drop In The Dollar: One of the most prominent consensus calls heading into 2017 was that the U.S. dollar would head higher during the year. Wall Street analysts were nearly unanimous in their expectation that a Donald Trump presidency would spell only good news for the greenback thanks to stronger growth expectations and higher interest rates. As is often the case, the consensus expectation has proven to be off the mark, at least during the first part of the year. After peaking at a 14-year high late last year, the U.S. Dollar Index has steadily dropped during the first quarter of 2017, and was last trading down 3% year-to-date. Last week's failure by Republicans to pass a health care bill through the House of Representatives was the latest setback for the buck, which had rallied four-straight years, measured by the popular U.S. Dollar Index. Under The Dollar Index Hood That index is heavily influenced by the euro-dollar (EUR/USD) foreign exchange rate, which has a 57.6% weighting in the index basket. That's followed by the dollar-yen (USD/JPY) at 13.6%; the pound-dollar (GBP/USD) at 11.9%; and a few others with smaller weights. Currency Weight Euro (EUR) 57.6% Japanese Yen (JPY) 13.6% British Pound (GBP) 11.9% Canadian Dollar (CAD) 9.1% Swedish Krona (SEK) 4.2% Swiss Franc (CHF) 3.5% Of course, there are plenty of other currency pairs outside of those in the U.S. Dollar Index basket. The Mexican peso, for example, is up nearly 10% against the greenback after falling to a record low around the time of Trump's inauguration in January. It could be that the peso is rallying simply because it fell too far and too fast. Or it could be that Trump's policies haven't proven to be as detrimental to the Mexican economy as feared. In any case, the point is that currencies across the board are climbing against the dollar, an unexpected development that investors should pay attention to. Here are three ETFs that are poised to benefit if the dollar continues to slide: Story continues WisdomTree Emerging Currency Fund (CEW) The WisdomTree Emerging Currency Fund (CEW) provides exposure to an equal-weighted basket of 15 emerging market currencies and their money market rates. If the dollar decline goes on, emerging market currencies are likely to be some of the biggest beneficiaries. CEW's basket includes the aforementioned Mexican peso, the Brazilian real, the Indian rupee and the Chinese yuan, among others. CEW invests in forward contracts and doesn't pay regular dividends, but it has a chunky implied yield of 4.8%. Year-to-date, the fund is up 5.2% after returning 4.1% last year. YTD Return For CEW, US Dollar Index SPDR Gold Trust (GLD) Widely regarded as a dollar hedge, gold has delivered on its promise this year. The SPDR Gold Trust (GLD) is up 9% year-to-date, and stands at its highest levels of the year just as the dollar drops to its lowest levels of the year. That's no coincidence. The 120-day correlation between gold prices and the U.S. Dollar Index is about -0.62, the tightest level since 2012 (a correlation of +1 means the two always move in the same direction, while a correlation of -1 means the two always move in opposite directions). If this correlation holds, GLD will continue to be one of the best anti-dollar ETFs available for investors. YTD Return For GLD, US Dollar Index VanEck Vectors J.P. Morgan EM Local Currency Bond ETF (EMLC) The VanEck Vectors J.P. Morgan EM Local Currency Bond ETF (EMLC) is the second-largest emerging market bond ETF on the market, with $3 billion in assets under management, but it's often been overshadowed by the $9.8 billion iShares JP Morgan USD Emerging Markets Bond ETF (EMB) . If the dollar keeps dropping, that could change. The main difference between EMLC and EMB is that the latter invests in dollar-denominated emerging market bonds, while the former invests in local-currency emerging market bonds. When the dollar is rising―as it's mostly done during the last few years―EMB will have superior returns to EMLC as depreciating emerging market currencies take a bite out of returns for the local-currency fund. But if the dollar drops, the opposite will be the case. Appreciating emerging market currencies will add to the returns for EMLC. That's what's happened so far this year, with EMLC up 6.8%, compared to 4% for EMB. If the downturn in the greenback has more room to run, expect more outperformance for EMLC. YTD Returns For EMB, EMLC Contact Sumit Roy at [email protected] Recommended Stories 3 ETFs For Surprise Drop In The Dollar Emerging Market Local Debt ETFs Shine Big Bitcoin ETF Decision Coming Today, Or Maybe Not The Most Interesting New Gold ETF Since GLD Swedroe: The Nuts & Bolts Of Currencies Permalink \| © Copyright 2017 ETF.com. All rights reserved \|\| USD/CNH Patterns to Watch after PBOC Talks on U.S.- China Relationship: DailyFX.com - This daily digest focuses on Yuan rates, major Chinese economic data, market sentiment, new developments in China’s foreign exchange policies, changes in financial market regulations, as well as market news typically available only in Chinese-language sources. - The USD/CNH is testing a major support. Watch key levels next. - The PBOC Governor addressed on investment negotiations between China and the U.S. - Looking for more trade ideas? Review DailyFX’s 2017 Trading Guides and watch DailyFX webinars . To receive reports from this analyst, sign up for Renee Mu’ distribution list . Yuan Rates USD/CNH Patterns to Watch after PBOC Talks on U.S.- China Relationship Prepared by Michael Boutros . USDCNH is testing the monthly opening-range lows with key support seen at the 61.8% retracement of the January rally at 6. 8391 . The pair has been trading within the confines of a well-defined descending pitchfork formation with the upper median-line parallel highlighting resistance & near-term bearish invalidation at 6.8839 - note that this level also converges on the February high. The near-term focus remains weighted to the downside while below this region with a break lower targeting confluence support at 6.8048 where the 61.8% extension of the decline off the yearly high converges on the 50-line of the operative slope. Subsequent support targets at 6.7765-6.7818 (38.2% retracement & the 2017 opening-range low). From a trading standpoint we’ll favor fading strength while below the upper parallel with a break of the range lows targeting subsequent support objectives. Market News PBOC News : China’s Central Bank. - China’s Central Bank released the full text of Governor Zhou Xiaochuan’s speech at Boao Forum this weekend. “China has been conducting negotiations on a bilateral investment treaty with the U.S., though some of the talks have been suspended. China is waiting for the new U.S. government to decide how to move forward on these talks”, according to the Governor. Mr. Zhou also said that “if the U.S. adopts valued added tax [on imported goods], China welcomes; however, implementing a border adjustment tax is controversial.” Story continues This indicates that the outlook of trade and investment between the two countries still has some uncertainty. This may not be good news for the Chinese economy, as it has already experienced slow growth in exports and imports. - The PBOC announced on Monday that it has hosted a supervision work conference last week for cross-border Yuan business and set targets for the 2017: the regulator will guide the development of offshore Yuan markets and promote cross-border Yuan business to develop in a healthy way. The Chinese regulator has been strengthening oversight on cross-border Yuan transactions and this is likely continue to be the case in 2017. As of March 27th, the “Big Three” Chinese Bitcoin trading platforms, BTCChina, OKCoin and Huobi, have not yet removed restrictions on Bitcoin withdrawals, which came into effect following a series of inspections on illegal cross-border transactions launched by the PBOC. Sina News : China’s most important online media source, similar to CNN in the US. They also own a Chinese version of Twitter, called Weibo, with around 200 million active users monthly. - In the first two months of 2017, China’s state-owned enterprises (SOEs) made a profit of 201.86 billion Yuan, rising +40.3% compared to the same period last year, according to China’s statistics bureau. In specific, oil, petrochemical, coal and steel industries that experienced major losses last year, all reported gains this January and February. This is likely driven by soaring energy prices. On the other hand, machinery and electricity companies reported significant drops in profits, likely led by the same reason - higher energy costs . To receive reports from this analyst, sign up for Renee Mu’ distribution list . original source DailyFX provides forex news and technical analysis on the trends that influence the global currency markets. Learn forex trading with a free practice account and trading charts from IG . \|\| USD/CNH Patterns to Watch after PBOC Talks on U.S.- China Relationship: DailyFX.com - This daily digest focuses on Yuan rates, major Chinese economic data, market sentiment, new developments in China’s foreign exchange policies, changes in financial market regulations, as well as market news typically available only in Chinese-language sources. - The USD/CNH is testing a major support. Watch key levels next. - The PBOC Governor addressed on investment negotiations between China and the U.S. -Looking for more trade ideas? Review DailyFX’s2017 Trading Guidesand watchDailyFX webinars. To receive reports from this analyst,sign up for Renee Mu’ distribution list. Yuan Rates Prepared byMichael Boutros. USDCNH is testing the monthly opening-range lows with key support seen at the 61.8% retracement of the January rally at6.8391. The pair has been trading within the confines of a well-defined descending pitchfork formation with the upper median-line parallel highlighting resistance & near-term bearish invalidation at6.8839-note that this level also converges on the February high. The near-term focus remains weighted to the downside while below this region with a break lower targeting confluence support at6.8048where the 61.8% extension of the decline off the yearly high converges on the 50-line of the operative slope. Subsequent support targets at6.7765-6.7818(38.2% retracement & the 2017 opening-range low). From a trading standpoint we’ll favor fading strength while below the upper parallel with a break of the range lows targeting subsequent support objectives. Market News PBOCNews:China’s Central Bank. -China’s Central Bank released the full text of Governor Zhou Xiaochuan’s speech at Boao Forum this weekend. “China has been conducting negotiations on a bilateral investment treaty with the U.S., though some of the talks have been suspended. China is waiting for the new U.S. government to decide how to move forward on these talks”, according to the Governor. Mr. Zhou also said that “if the U.S. adopts valued added tax [on imported goods], China welcomes; however, implementing a border adjustment tax is controversial.” This indicates that the outlook of trade and investment between the two countries still has some uncertainty. This may not be good news for the Chinese economy, as it has already experienced slow growth in exports and imports. - The PBOC announced on Monday that it has hosted a supervision work conference last week for cross-border Yuan business and set targets for the 2017: the regulator will guide the development of offshore Yuan markets and promote cross-border Yuan business to develop in a healthy way. The Chinese regulator has been strengthening oversight on cross-border Yuan transactions and this is likely continue to be the case in 2017. As of March 27th, the “Big Three” Chinese Bitcoin trading platforms, BTCChina, OKCoin and Huobi, have not yet removed restrictions on Bitcoin withdrawals, which came into effect following a series of inspections on illegal cross-border transactions launched by the PBOC. Sina News: China’s most important online media source, similar to CNN in the US. They also own a Chinese version of Twitter, called Weibo, with around 200 million active usersmonthly. - In the first two months of 2017, China’s state-owned enterprises (SOEs) made a profit of 201.86 billion Yuan, rising +40.3% compared to the same period last year, according to China’s statistics bureau. In specific, oil, petrochemical, coal and steel industries that experienced major losses last year, all reported gains this January and February. This is likely driven by soaring energy prices. On the other hand, machinery and electricity companies reported significant drops in profits, likely led by the same reason -higher energy costs. To receive reports from this analyst,sign up for Renee Mu’ distribution list. original source DailyFXprovides forex news and technical analysis on the trends that influence the global currency markets.Learn forex trading with a free practice account and trading charts fromIG. \|\| What you need to know on Wall Street right now: Donald Trump (Donald Trump.Getty Images) Welcome to Finance Insider, Business Insider's summary of the top stories of the past 24 hours. Barclays, the 300-year-old British financial institution, is doubling down on investment banking in the US . "Our narrative needs to be: ' We are a top, fifth-ranked firm in the US' investment banking market — period ,'" John Miller, who is head of Barclays' corporate and investment bank in the Americas, recently told Business Insider. Elsewhere on Wall Street, hedge fund traders from a legendary desk at Goldman Sachs have lost billions of dollars . And the statue of the "Fearless Girl" will stare down the Wall Street bull for another year . The GOP's Obamacare replacement plan got pulled from a vote in the House on Friday, putting markets on edge. Here's what you need to know: How "Trumpcare" went up in flames — and why it should worry the GOP about the future Wall Street already knows how to spin Trumpcare's ugly collapse — but it's missing the point There's a reason why it's "been decades since significant tax reform has passed" Here's the next hill Trump, Ryan and House Republicans could die on Here's who has the most to lose if the government starts negotiating drug prices In markets news, one of Wall Street's favorite Trump trades is rewarding investors that bet against it . Hospital stocks are popping after the demise of "Trumpcare." Wall Street is getting one of its biggest calls of the year all wrong . In economics, Treasury Secretary Mnuchin says AI taking US jobs is "50-100 more years" away — but it's already beginning to happen . And seeing how the highest and lowest-earners spend their money will make you think differently about "rich" vs "poor." In deal news, Okta priced its IPO and hopes to hit a $2 billion valuation . And Elevate Credit, an online lender that focuses on riskier borrowers, is headed for an initial public offering . And in tech, t he No.1 investment bank advising Snap on its IPO is projecting massive growth for the company . T he YouTube advertiser boycott will cost Google $750 million , according to one analyst. And a Bitcoin civil war is threatening to tear the digital currency in two — here's what you need to know Story continues Lastly, take a look i nside the exclusive New York gym where Hugh Jackman, Victoria's Secret models and Wall Streeters work out . Here are the top Wall Street headlines from the past 24 hours. Saudi Arabia sweetens huge Aramco IPO with tax cut - Saudi Arabia's government has cut the income tax paid by national oil giant Saudi Aramco to smooth the company's initial public offer of shares next year, which is expected to be the world's largest equity sale. Brexit is already hurting London's reputation as a financial centre - London has seen its standing as a financial center slip as Britain prepares to trigger its departure from the European Union, according to a survey released on Monday, although rival European cities still lag far behind. Tesla is about to confront dueling best- and worst-case scenarios, and anything could happen - Tesla is preparing for its biggest year ever. Whole Foods is facing its worst nightmare after an unexpected threat stole millions of customers - Whole Foods is losing millions of customers to what was once an unthinkable threat: Kroger. This cocktail brought the "original American whiskey" back from the dead - Whiskey is experiencing a huge comeback in America. The Trump era is ushering in a "more is more" design renaissance in America - The Trump aesthetic is far from subtle. We got a peek inside a $20 million apartment in the latest skyscraper to dramatically alter Manhattan's skyline - Madison Square Park Tower is changing Manhattan's skyline. The 65-story glass skyscraper is the tallest in its Flatiron District neighborhood, and because of various zoning laws surrounding it, its fantastic views will never be obstructed. More From Business Insider What you need to know on Wall Street right now What you need to know on Wall Street right now What you need to know on Wall Street right now \|\| What you need to know on Wall Street right now: (Donald Trump.Getty Images)Welcome to Finance Insider, Business Insider's summary of the top stories of the past 24 hours. Barclays, the 300-year-old British financial institution, isdoubling down on investment banking in the US. "Our narrative needs to be: 'We are a top, fifth-ranked firm in the US' investment banking market — period,'"John Miller, who is head of Barclays' corporate and investment bank in the Americas,recently told Business Insider. Elsewhere on Wall Street, hedge fund traders from alegendary desk at Goldman Sachs have lost billions of dollars. And the statue of the "Fearless Girl"will stare down the Wall Street bull for another year. TheGOP's Obamacare replacement plan got pulled from a vote in the Houseon Friday, putting markets on edge. Here's what you need to know: • How "Trumpcare" went up in flames — and why it should worry the GOP about the future • Wall Street already knows how to spin Trumpcare's ugly collapse — but it's missing the point • There's a reason why it's "been decades since significant tax reform has passed" • Here's the next hill Trump, Ryan and House Republicans could die on • Here's who has the most to lose if the government starts negotiating drug prices In markets news, one of Wall Street's favorite Trump tradesis rewarding investors that bet against it. Hospital stocks arepopping after the demise of "Trumpcare."Wall Street is gettingone of its biggest calls of the year all wrong. In economics, Treasury Secretary Mnuchin says AI taking US jobs is "50-100 more years" away —but it's already beginning to happen. And seeing how the highest and lowest-earnersspend their money will make you think differently about "rich" vs "poor." In deal news,Okta priced its IPO andhopes to hit a $2 billion valuation. AndElevate Credit, an online lender that focuses on riskier borrowers,is headed for an initial public offering. And in tech, the No.1 investment bank advising Snap on itsIPO is projecting massive growth for the company. TheYouTube advertiser boycott will cost Google $750 million, according to one analyst. And a Bitcoin civil war is threatening to tear the digital currency in two —here's what you need to know Lastly, take a look inside the exclusive New York gym whereHugh Jackman, Victoria's Secret models and Wall Streeters work out. Here are the top Wall Street headlines from the past 24 hours. Saudi Arabia sweetens huge Aramco IPO with tax cut-Saudi Arabia's government has cut the income tax paid by national oil giant Saudi Aramco to smooth the company's initial public offer of shares next year, which is expected to be the world's largest equity sale. Brexit is already hurting London's reputation as a financial centre-London has seen its standing as a financial center slip as Britain prepares to trigger its departure from the European Union, according to a survey released on Monday, although rival European cities still lag far behind. Tesla is about to confront dueling best- and worst-case scenarios, and anything could happen-Tesla is preparing for its biggest year ever. Whole Foods is facing its worst nightmare after an unexpected threat stole millions of customers-Whole Foods is losing millions of customers to what was once an unthinkable threat: Kroger. This cocktail brought the "original American whiskey" back from the dead-Whiskey is experiencing a huge comeback in America. The Trump era is ushering in a "more is more" design renaissance in America-The Trump aesthetic is far from subtle. We got a peek inside a $20 million apartment in the latest skyscraper to dramatically alter Manhattan's skyline-Madison Square Park Toweris changing Manhattan's skyline. The 65-story glass skyscraper is the tallest in its Flatiron District neighborhood, and because of various zoning laws surrounding it, its fantastic views will never be obstructed. More From Business Insider • What you need to know on Wall Street right now • What you need to know on Wall Street right now • What you need to know on Wall Street right now \|\| Coin Citadel Shareholder Update: LOS ANGELES, CA / ACCESSWIRE / March 27, 2017 / Coin Citadel (OTC PINK: CCTL), announces that it is diligently working on finalizing a transaction to substantially increase our Bitcoin inventory and add substantial value to our current assets. At the same time, we are searching for additional opportunities in the Bitcoin sector that can add revenue and value to our core business model, and ultimately, to our shareholders. We are also pursuing merger and acquisition opportunities outside of our current business model with a view toward eventually evolving into a holding company with diversified assets involved in multiple markets, thus minimizing our exposure to market fluctuations within a single sector. The company's long-term outlook on Bitcoins is bullish. With more opportunities and acquisitions to make, the more valuable the company will be. Additionally we are working on bringing the company back to current status on OTCmarkets.com. We also want to open other lines of communication with our shareholders, through social media such as Twitter, and Facebook. Please be on the lookout for news, filings, and other updates coming shortly. Effective March 22, 2017, An incredited investor and the "Company", entered into a 3a10 for the claim amount of $197,500.00. Forward-Looking Statement: Any statements made in this press release which are not historical facts contain certain forward-looking statements; as such term is defined in the Private Security Litigation Reform Act of 1995, concerning potential developments affecting the business, prospects, financial condition and other aspects of the company to which this release pertains. The actual results of the specific items described in this release, and the company's operations generally, may differ materially from what is projected in such forward-looking statements. The company disclaims any obligation to update information contained in any forward-looking statement. This press release shall not be deemed a general solicitation. Story continues Contact: Bill Schaefer, CEO 562-453-7643 SOURCE: Coin Citadel \|\| Coin Citadel Shareholder Update: LOS ANGELES, CA / ACCESSWIRE / March 27, 2017 /Coin Citadel(OTC PINK: CCTL), announces that it is diligently working on finalizing a transaction to substantially increase our Bitcoin inventory and add substantial value to our current assets. At the same time, we are searching for additional opportunities in the Bitcoin sector that can add revenue and value to our core business model, and ultimately, to our shareholders. We are also pursuing merger and acquisition opportunities outside of our current business model with a view toward eventually evolving into a holding company with diversified assets involved in multiple markets, thus minimizing our exposure to market fluctuations within a single sector. The company's long-term outlook on Bitcoins is bullish. With more opportunities and acquisitions to make, the more valuable the company will be. Additionally we are working on bringing the company back to current status on OTCmarkets.com. We also want to open other lines of communication with our shareholders, through social media such as Twitter, and Facebook. Please be on the lookout for news, filings, and other updates coming shortly. Effective March 22, 2017, An incredited investor and the "Company", entered into a 3a10 for the claim amount of $197,500.00. Forward-Looking Statement:Any statements made in this press release which are not historical facts contain certain forward-looking statements; as such term is defined in the Private Security Litigation Reform Act of 1995, concerning potential developments affecting the business, prospects, financial condition and other aspects of the company to which this release pertains. The actual results of the specific items described in this release, and the company's operations generally, may differ materially from what is projected in such forward-looking statements. The company disclaims any obligation to update information contained in any forward-looking statement. This press release shall not be deemed a general solicitation. Contact: Bill Schaefer, CEO562-453-7643 SOURCE:Coin Citadel \|\| Swedroe: Private Equity Adds Risk, Little Return: The term “private equity” is used to describe various types (e.g., buyout funds and venture capital funds) of privately placed (nonpublicly traded) investments. Even though buyout (BO) funds and venture capital (VC) funds have similar organizational and compensation structures, they are distinguished by the types of investments they make and the way those investments are financed. BO funds generally acquire 100% of the target firm (which can be public or private) and use leverage. VC funds take minority positions in private businesses and do not use debt financing. Today BO funds account for about three-fourths of private equity deals. Private equity (PE) excites many investors, offering the opportunity for spectacular returns (although, as with most investments, we generally hear only the stories with happy endings). Even the term conveys an exclusive nature, especially for investors who yearn to be “players.” Capital committed to PE funds worldwide has risen substantially in the past two decades, thanks largely to U.S. pension funds searching for alternatives to public equity markets that might help them meet their return objectives. Endowments seeking to replicate the successes of the Yale Endowment have also contributed to the growth of PE funds. And it is reasonable to assume that high-risk, illiquid investments are priced by investors to deliver higher expected returns than publicly traded securities to compensate for the greater risk. The Historical EvidenceSteven Kaplan and Berk Sensoy contributed to the literature on the performance of PE funds through an extensive survey of current research on the performance of private equity. Following is a summary of the findings from their October 2014 paper, “Private Equity Performance: A Survey”: • BO funds have outperformed the S&P 500 net of fees by about 20%, on average, over the life of the fund. • VC funds raised in the 1990s outperformed the S&P 500, while those raised in the 2000s have not. • Before the 2000s, buyout and VC fund performance showed strong evidence of persistence. • Since 2000, there is little evidence of BO fund persistence (with the exception of persistence among those in the bottom quartile, the worst performers), while VC fund persistence has remained strong. Unfortunately, the returns data presented by Kaplan and Sensoy isn’t risk-adjusted. Private equity is really much riskier than an investment in a publicly traded S&P 500 Index fund, making it a wholly inappropriate benchmark. For example ... • Companies in the S&P 500 are typically among the largest and strongest companies, while VC typically invests in smaller and early-stage companies with far less financial strength. Studies have estimated betas for BO funds at about 1.3 and for VC funds at 1.6 to 2.5. Adjusting for the higher betas alone would have erased any evidence of outperformance. Similarly risky but also publicly available small value stocks have also outperformed the S&P 500 by a wide margin—from 1927 through 2016, the S&P 500 returned 10.0%, while the Fama-French Small Value Index (ex utilities) returned 13.6%. • Investors in private equity forgo the benefits of daily liquidity. It’s well-documented in the literature that investors will demand a premium for investing in illiquid assets, especially those that perform poorly in bad times (like PE). There’s no adjustment in the returns data for the risk of illiquidity. In addition to the lack of liquidity relative to investments in mutual funds, private equity investors also forgo the benefits of transparency and broad diversification (and for individuals, the ability to harvest losses for tax purposes). • The median return of PE is much lower than the mean (the arithmetic average) return. PE’s relatively high average return reflects the small possibility of a truly outstanding return, combined with the much larger probability of a more modest or negative return. In effect, PE investments are like options (or lottery tickets). They tend to provide a small chance of a huge payout but a much larger chance of a below-average return. And it’s difficult, especially for individual investors, to diversify this risk. • The standard deviation of private equity exceeds 100%, in comparison to standard deviations of about 20% for the S&P 500 and about 35% for small value stocks. In their survey, Kaplan and Sensoy observed that the authors of the 2013 study, “Limited Partner Performance and the Maturing of the Private Equity Industry,” found that, in the more recent sample of PE funds raised between 1999 and 2006, there was no evidence that endowments outperform other limited partner types or display any superior skill at selecting general partners. According to Kaplan and Sensoy, this study (which Sensoy also co-authored) concluded that “the disappearing endowment advantage is consistent with other secular trends in the industry, particularly the decline in VC performance since the late 1990s and the decline in performance persistence in BO firms.” Latest Evidence Reiner Braun, Tim Jenkinson and Ingo Stoff contribute to the literature on private equity performance and its persistence with their study, “How Persistent is Private Equity Performance? Evidence from Deal-Level Data,” which was published in the February 2017 issue of the Journal of Financial Economics. Their findings were consistent with those of Kaplan and Sensoy. Their study covered timed cash-flow data at the deal level for 13,523 investments made by 865 buyout funds (not VC funds) run by 269 general partners (GPs). The investments were split roughly equally between the U.S. and Europe, with a few in other regions, and span the period 1974 to 2012. This is important, as most other studies examined only U.S. data. The authors noted: “As well as being extensive and detailed, for the vast majority of the GPs in our sample we have their complete investment history. This is clearly critical when analysing performance persistence, and lack of completeness is a problem that has plagued earlier analyses. We source the data from three fund-of-fund managers who required all GPs who sought capital to provide this detailed deal-level information in a standardized format. Importantly, the sample includes all the GPs upon which the fund-of-fund managers performed due diligence, whether or not they actually chose to invest.” They also partitioned the data sample into an early period up to the end of 2000 and a later period from 2001 onward. Following is a summary of their findings ... • While there was evidence of performance persistence in the early period, it was weaker than performance persistence found in previous studies and has largely disappeared in recent years. The authors stated: “This is consistent with the PE sector maturing, with financial engineering and valuation techniques becoming commoditized, professionals moving between or forming new GPs, and the ways to create operational improvements to portfolio companies becoming assimilated across firms.” • Competition has clearly increased in recent years, but not evenly over time or by region. When a large amount of capital chases deals, persistence tends to be lower. • There is significant evidence of top-quartile performance persistence but only in low competition states. On the other hand, GPs who make bad deals tend to repeat, irrespective of the state of competition. Braun, Jenkinson and Stoff concluded: “Overall, the evidence we present suggests that performance persistence has largely disappeared as the PE market has matured and become more competitive.” They add: “Those Limited Partners (LPs) who were early investors in PE—such as endowments—established relationships with successful GPs which were valuable when the market was developing. However, those relationships, and access to funds—at least on the buyout side—are now much less valuable and are no longer a source of LP out-performance.” For investors, the research has an important implication: If past performance provides little guidance on the choice of GPs, how can one identify the future top performers? Swensen On Private EquityIf you’re considering investing in PE or sit on the board of a committee that is doing so, be sure to consider these sage words of advice from David Swensen, chief investment officer of the Yale Endowment: “Understanding the difficulty of identifying superior hedge fund, venture capital, and leverage buyout investments leads to the conclusion that hurdles for casual investors stand insurmountably high. Even many well-equipped investors fail to clear the hurdles necessary to achieve consistent success in producing market-beating active management results.” In his book, “Unconventional Success: A Fundamental Approach to Personal Investment,” Swensen offered the following observation on BO funds: “Investors in buyout partnerships received miserable risk-adjusted returns over the past two decades. Since the only material differences between privately owned buyouts and publicly traded companies lie in the nature of the ownership (private vs. public) and character of capital structure (highly leveraged vs. less highly leveraged), comparing buyout returns to public market returns makes sense as a starting point. But because the riskier, more leveraged buyout positions ought to generate higher returns, sensible investors recoil at the buyout industry’s deficit relative to public market alternatives. On a risk-adjusted basis, market equities win in a landslide.” Swensen also cited a Yale Investments Office study that provides some insight into the additional return required to compensate for the risk in leveraged buyout transactions. He writes: “Examination of 542 buyout deals initiated and concluded between 1987 and 1998 showed gross returns of 48% per annum, significantly above the 17% return that would have resulted from comparably timed and comparably sized investments in the S&P 500. On the surface, buyouts beat stocks by a wide margin. Adjustment for management fees and general partners’ profit participation bring the estimated buyout result to 36% per year, still comfortably ahead of the marketable security alternative…. Because buyout transactions by their very nature involve higher-than-market levels of leverage, the basic buyout-fund-to marketable-security comparison fails the apples-to-apples standard. To produce a risk-neutral comparison, consider the impact of applying leverage to public market investments. Comparably timed, comparably sized, and comparably leveraged investments in the S&P 500 produced an astonishing 86% annual return. The risk-adjusted marketable security result exceeded the buyout result of 36% per year by an astounding 50%age points per year.” Summary The bottom line is that if you’re willing, able and have the need to take more risk in search of higher returns, the most likely to place to find that is not in PE, but rather in publicly available small value stocks. And you can access these higher expected returns through low-cost, passively managed and tax-efficient funds. You can globally diversify their risks as well. In addition, you’ll have all the benefits of daily liquidity and transparency. Larry Swedroe is the director of research forThe BAM Alliance, a community of more than 140 independent registered investment advisors throughout the country. Recommended Stories • Monday Hot Reads: Positive Buzz Sends First Marijuana ETF High • How New Short Squeeze ETF Can Juice Returns • Swedroe: Private Equity Adds Risk, Little Return • How Hedge Funds Use ETFs • Bitcoin ETFs For Dummies Permalink\| © Copyright 2017ETF.com.All rights reserved \|\| Swedroe: Private Equity Adds Risk, Little Return: The term “private equity” is used to describe various types (e.g., buyout funds and venture capital funds) of privately placed (nonpublicly traded) investments. Even though buyout (BO) funds and venture capital (VC) funds have similar organizational and compensation structures, they are distinguished by the types of investments they make and the way those investments are financed. BO funds generally acquire 100% of the target firm (which can be public or private) and use leverage. VC funds take minority positions in private businesses and do not use debt financing. Today BO funds account for about three-fourths of private equity deals. Private equity (PE) excites many investors, offering the opportunity for spectacular returns (although, as with most investments, we generally hear only the stories with happy endings). Even the term conveys an exclusive nature, especially for investors who yearn to be “players.” Capital committed to PE funds worldwide has risen substantially in the past two decades, thanks largely to U.S. pension funds searching for alternatives to public equity markets that might help them meet their return objectives. Endowments seeking to replicate the successes of the Yale Endowment have also contributed to the growth of PE funds. And it is reasonable to assume that high-risk, illiquid investments are priced by investors to deliver higher expected returns than publicly traded securities to compensate for the greater risk. The Historical Evidence Steven Kaplan and Berk Sensoy contributed to the literature on the performance of PE funds through an extensive survey of current research on the performance of private equity. Following is a summary of the findings from their October 2014 paper, “ Private Equity Performance: A Survey ”: BO funds have outperformed the S&P 500 net of fees by about 20%, on average, over the life of the fund. VC funds raised in the 1990s outperformed the S&P 500, while those raised in the 2000s have not. Before the 2000s, buyout and VC fund performance showed strong evidence of persistence. Since 2000, there is little evidence of BO fund persistence (with the exception of persistence among those in the bottom quartile, the worst performers), while VC fund persistence has remained strong. Unfortunately, the returns data presented by Kaplan and Sensoy isn’t risk-adjusted. Private equity is really much riskier than an investment in a publicly traded S&P 500 Index fund, making it a wholly inappropriate benchmark. For example ... Companies in the S&P 500 are typically among the largest and strongest companies, while VC typically invests in smaller and early-stage companies with far less financial strength. Studies have estimated betas for BO funds at about 1.3 and for VC funds at 1.6 to 2.5. Adjusting for the higher betas alone would have erased any evidence of outperformance. Similarly risky but also publicly available small value stocks have also outperformed the S&P 500 by a wide margin—from 1927 through 2016, the S&P 500 returned 10.0%, while the Fama-French Small Value Index (ex utilities) returned 13.6%. Investors in private equity forgo the benefits of daily liquidity. It’s well-documented in the literature that investors will demand a premium for investing in illiquid assets, especially those that perform poorly in bad times (like PE). There’s no adjustment in the returns data for the risk of illiquidity. In addition to the lack of liquidity relative to investments in mutual funds, private equity investors also forgo the benefits of transparency and broad diversification (and for individuals, the ability to harvest losses for tax purposes). The median return of PE is much lower than the mean (the arithmetic average) return. PE’s relatively high average return reflects the small possibility of a truly outstanding return, combined with the much larger probability of a more modest or negative return. In effect, PE investments are like options (or lottery tickets). They tend to provide a small chance of a huge payout but a much larger chance of a below-average return. And it’s difficult, especially for individual investors, to diversify this risk. The standard deviation of private equity exceeds 100%, in comparison to standard deviations of about 20% for the S&P 500 and about 35% for small value stocks. Story continues In their survey, Kaplan and Sensoy observed that the authors of the 2013 study, “ Limited Partner Performance and the Maturing of the Private Equity Industry ,” found that, in the more recent sample of PE funds raised between 1999 and 2006, there was no evidence that endowments outperform other limited partner types or display any superior skill at selecting general partners. According to Kaplan and Sensoy, this study (which Sensoy also co-authored) concluded that “the disappearing endowment advantage is consistent with other secular trends in the industry, particularly the decline in VC performance since the late 1990s and the decline in performance persistence in BO firms.” Latest Evidence Reiner Braun, Tim Jenkinson and Ingo Stoff contribute to the literature on private equity performance and its persistence with their study, “ How Persistent is Private Equity Performance? Evidence from Deal-Level Data ,” which was published in the February 2017 issue of the Journal of Financial Economics. Their findings were consistent with those of Kaplan and Sensoy. Their study covered timed cash-flow data at the deal level for 13,523 investments made by 865 buyout funds (not VC funds) run by 269 general partners (GPs). The investments were split roughly equally between the U.S. and Europe, with a few in other regions, and span the period 1974 to 2012. This is important, as most other studies examined only U.S. data. The authors noted: “As well as being extensive and detailed, for the vast majority of the GPs in our sample we have their complete investment history. This is clearly critical when analysing performance persistence, and lack of completeness is a problem that has plagued earlier analyses. We source the data from three fund-of-fund managers who required all GPs who sought capital to provide this detailed deal-level information in a standardized format. Importantly, the sample includes all the GPs upon which the fund-of-fund managers performed due diligence, whether or not they actually chose to invest.” They also partitioned the data sample into an early period up to the end of 2000 and a later period from 2001 onward. Following is a summary of their findings ... While there was evidence of performance persistence in the early period, it was weaker than performance persistence found in previous studies and has largely disappeared in recent years. The authors stated: “This is consistent with the PE sector maturing, with financial engineering and valuation techniques becoming commoditized, professionals moving between or forming new GPs, and the ways to create operational improvements to portfolio companies becoming assimilated across firms.” Competition has clearly increased in recent years, but not evenly over time or by region. When a large amount of capital chases deals, persistence tends to be lower. There is significant evidence of top-quartile performance persistence but only in low competition states. On the other hand, GPs who make bad deals tend to repeat, irrespective of the state of competition. Braun, Jenkinson and Stoff concluded: “Overall, the evidence we present suggests that performance persistence has largely disappeared as the PE market has matured and become more competitive.” They add: “Those Limited Partners (LPs) who were early investors in PE—such as endowments—established relationships with successful GPs which were valuable when the market was developing. However, those relationships, and access to funds—at least on the buyout side—are now much less valuable and are no longer a source of LP out-performance.” For investors, the research has an important implication: If past performance provides little guidance on the choice of GPs, how can one identify the future top performers? Swensen On Private Equity If you’re considering investing in PE or sit on the board of a committee that is doing so, be sure to consider these sage words of advice from David Swensen, chief investment officer of the Yale Endowment: “Understanding the difficulty of identifying superior hedge fund, venture capital, and leverage buyout investments leads to the conclusion that hurdles for casual investors stand insurmountably high. Even many well-equipped investors fail to clear the hurdles necessary to achieve consistent success in producing market-beating active management results.” In his book, “ Unconventional Success: A Fundamental Approach to Personal Investment ,” Swensen offered the following observation on BO funds: “Investors in buyout partnerships received miserable risk-adjusted returns over the past two decades. Since the only material differences between privately owned buyouts and publicly traded companies lie in the nature of the ownership (private vs. public) and character of capital structure (highly leveraged vs. less highly leveraged), comparing buyout returns to public market returns makes sense as a starting point. But because the riskier, more leveraged buyout positions ought to generate higher returns, sensible investors recoil at the buyout industry’s deficit relative to public market alternatives. On a risk-adjusted basis, market equities win in a landslide.” Swensen also cited a Yale Investments Office study that provides some insight into the additional return required to compensate for the risk in leveraged buyout transactions. He writes: “Examination of 542 buyout deals initiated and concluded between 1987 and 1998 showed gross returns of 48% per annum, significantly above the 17% return that would have resulted from comparably timed and comparably sized investments in the S&P 500. On the surface, buyouts beat stocks by a wide margin. Adjustment for management fees and general partners’ profit participation bring the estimated buyout result to 36% per year, still comfortably ahead of the marketable security alternative…. Because buyout transactions by their very nature involve higher-than-market levels of leverage, the basic buyout-fund-to marketable-security comparison fails the apples-to-apples standard. To produce a risk-neutral comparison, consider the impact of applying leverage to public market investments. Comparably timed, comparably sized, and comparably leveraged investments in the S&P 500 produced an astonishing 86% annual return. The risk-adjusted marketable security result exceeded the buyout result of 36% per year by an astounding 50%age points per year.” Summary The bottom line is that if you’re willing, able and have the need to take more risk in search of higher returns, the most likely to place to find that is not in PE, but rather in publicly available small value stocks. And you can access these higher expected returns through low-cost, passively managed and tax-efficient funds. You can globally diversify their risks as well. In addition, you’ll have all the benefits of daily liquidity and transparency. Larry Swedroe is the director of research for The BAM Alliance , a community of more than 140 independent registered investment advisors throughout the country. Recommended Stories Monday Hot Reads: Positive Buzz Sends First Marijuana ETF High How New Short Squeeze ETF Can Juice Returns Swedroe: Private Equity Adds Risk, Little Return How Hedge Funds Use ETFs Bitcoin ETFs For Dummies Permalink \| © Copyright 2017 ETF.com. All rights reserved View comments \|\| STOCKS REBOUND AFTER 'TRUMPCARE' VOTE PULLED: Here's what you need to know: (Google Finance) Stocks shot up after Republican congressional leaders pulled the American Health Care Act from what looked almost certain to be a failed vote Friday. All three major indices were tumbling lower near the end of the day, ahead of the scheduled vote. However, immediately after it was announced that the bill was pulled, stocks shot back up. The Nasdaq finished up for the day, the S&P 500 was little changed, and the Dow was slightly in the red. First up, the scoreboard: • Dow:20,596.72, -59.86, (-0.29%) • S&P 500:2,343.98,-1.98, (-0.08%) • Nasdaq:5,828.74, +11.04, (+0.19%) • US 10-year yield:2.418, -0.000 • WTI Crude:$48.10, +0.40, (+0.84%) 1.The GOP leadership has pulled the American Health Care Act from what looked almost certain to be a failed vote Friday.The move came as it became more clear that Republicans did not have enough votes to pass their bill to repeal and replace Obamacare. 2.The company behind the Keystone Pipeline just got a presidential permit to go ahead. The move overturns President Barack Obama'srejection of the $8 billion project. Following a wave of protests fromenvironmentalists, Obama said the project was against the long-term interests of the US. 3.Russia's central bank cut rates.The bank lowered its one-week repo rate by 25 basis points to 9.75% from 10.00%, and suggested that more cuts could be coming this year. 4.GameStop tanks after missing on sales and signaling it will close some stores this year.In its earnings release, the video-game retailer said its core category was weak, especially in the second half of last year, as the console cycle aged with a dearth of new hardware releases. 5.US oil rig count jumped for the 10th straight week, according to Baker Hughes.The US oil-rig count spiked by 21 to 652 this week — thehighest total count since the week of September 11, 2015.The gas-rig count fell by two to 155. 6.Bitcoin fell below $1,000.Aggressive selling on Friday morning had the cryptocurrency down 4.1% at $987 a coin as traders remain uneasy over its near-term outlook. ADDITIONALLY: Snapchat is more like Twitter than Facebook in one important area. One of Wall Street's most steadfast bulls is worried about stocks. Finish Line's explanation of its disappoint quarter perfectly captures the retail apocalypse. NOW WATCH:7 mega-billionaires who made a fortune last year More From Business Insider • STOCKS DO NOTHING: Here's what you need to know • STOCKS SNAP THEIR STREAK: Here's what you need to know • STOCKS DO NOTHING: Here's what you need to know \|\| STOCKS REBOUND AFTER 'TRUMPCARE' VOTE PULLED: Here's what you need to know: chart (Google Finance) Stocks shot up after Republican congressional leaders pulled the American Health Care Act from what looked almost certain to be a failed vote Friday. All three major indices were tumbling lower near the end of the day, ahead of the scheduled vote. However, immediately after it was announced that the bill was pulled, stocks shot back up. The Nasdaq finished up for the day, the S&P 500 was little changed, and the Dow was slightly in the red. First up, the scoreboard: Dow: 20, 596.72 , -59.86, (-0.29%) S&P 500: 2, 343.98 , -1.98 , ( - 0. 08 %) Nasdaq: 5,828.74, +11.04, (+0.19%) US 10-year yield: 2.418, -0.000 WTI Crude: $48.10, +0.40, (+0.84%) 1. The GOP leadership has pulled the American Health Care Act from what looked almost certain to be a failed vote Friday . The move came as it became more clear that Republicans did not have enough votes to pass their bill to repeal and replace Obamacare. 2. The company behind the Keystone Pipeline just got a presidential permit to go ahead . The move overturns President Barack Obama's rejection of the $8 billion project . Following a wave of protests from environmentalists , Obama said the project was against the long-term interests of the US. 3. Russia's central bank cut rates . The bank lowered its one-week repo rate by 25 basis points to 9.75% from 10.00%, and suggested that more cuts could be coming this year. 4. GameStop tanks after missing on sales and signaling it will close some stores this year . In its earnings release, the video-game retailer said its core category was weak, especially in the second half of last year, as the console cycle aged with a dearth of new hardware releases. 5. US oil rig count jumped for the 10th straight week, according to Baker Hughes . The US oil-rig count spiked by 21 to 652 this week — the highest total count since the week of September 11, 2015. The gas-rig count fell by two to 155. 6. Bitcoin fell below $1,000 . Aggressive selling on Friday morning had the cryptocurrency down 4.1% at $987 a coin as traders remain uneasy over its near-term outlook. Story continues ADDITIONALLY: Snapchat is more like Twitter than Facebook in one important area . One of Wall Street's most steadfast bulls is worried about stocks . Finish Line's explanation of its disappoint quarter perfectly captures the retail apocalypse . NOW WATCH: 7 mega-billionaires who made a fortune last year More From Business Insider STOCKS DO NOTHING: Here's what you need to know STOCKS SNAP THEIR STREAK: Here's what you need to know STOCKS DO NOTHING: Here's what you need to know \|\| It takes three to tango in ETF-land: Jim Cramers name doesnt come up very often on this site. However a recent post by Cramer about ETFs garnered some attention and is worth addressing further. Cramer noted the decline in interest in stockpicking due to the rise of sector ETFs. From the article on CNBC : On a larger scale, however, Cramer said that ETFs have the power to distort stock valuations too dramatically for his liking. At the end of the day, Im against ETFs because they often create enormous distortions that can obliterate even the best of stocks, Cramer said. You have to accept a lot more risk if you own a stock thats particularly hostage [to] a given ETF. Todd Rosenbluth writing at ETF.com took exception with Cramer on a number of fronts including the characterization of the ETF industry itself: Cramer attributed the rise in the number of ETFs to the financial services industry looking for a new way to make money; CFRA attributes the rise in assets in ETFs to investors tiring of underperforming active managersWhile low fees play a role in these decisions, CFRA thinks that continued struggles by active managers to keep up with the index has resulted in more investors being comfortable with consistently average returns. Joel Dickson writing at ETFdb.com represents some middle ground on the topic of ETFs. Dickson writes: Are ETFs perfect? No. There are probably too many of them. But the same could be said of traditional mutual funds, even index funds. Do all offer sound and durable investment strategies? Probably not. Neither do mutual fundsETFs, like whiskey, require moderation. Moderation in use and moderation in the views pertaining to them. Its hard to believe but I have been writing about ETFs since the outset of this blog back in 2005. One year later in 2006 I characterized ETFs as a useful tool and wrote : Feinberg is indeed correct in calling ETFs a wonderful tool. However the well-publicized advantages of ETFs can become a disadvantage in the wrong hands if used incorrectly. Unfortunately the ETF industry is continuing to populate the universe of ETFs with ever more complex and narrowly-based funds. Choice is indeed great, but as costs and complexity rise, the chance (and costs) of making a wrong decision also rise. Story continues Sometimes critics of ETFs believe that some how ETFs somehow exist in a vacuum. By that I mean they dont accept that the growth in, and popularity of ETFs, is somehow made-up. The fact is that for every successful ETF, three things have to happen.* An ETF sponsor needs to come up with an idea for a fund; The SEC needs to approve said fund; Investors actually have to put money in the fund for it to survive. There are no shortage of ETFs that have passed the first two hurdles. The challenge is achieving the third. According to Ron Rowland at Invest With an Edge there have been some 700 ETF closures over time. In some cases a fund never gets past the second stage. Recently the SEC failed to approve an application for a Bitcoin ETF . Sector ETFs, which Cramer seems to most object to, exist because all three of the above criteria have been met. Sector funds are not in fact an invention of the ETF industry. Sector-focused mutual funds existed, see Fidelitys line-up , long before the invention of the ETF. So it isnt the existence of the sector fund that bugs critics, it is their popularity. That is not to say that ETFs are in any way, shape or form perfect. The way ETFs trade has put a great deal a great deal of pressure on the last half hour of trading. A few days ago a glitch on the NYSEs Arca platform made a mess of end-of-day pricing. During periods of market stress ETFs have come under criticism for their inconsistent trading . Given the number of ETFs and their structure there will always be room for error in their trading. Source: WSJ Another valid criticism of ETFs is the existence of funds that in the hands of novice or amateur traders could do them damage. Inverse ETFs are a prime example of this. Jared Dillian writing at Bloomberg View takes to task both the ETF industry and the SEC for the existence of inverse ETFs that if held in perpetuity would eventually lose all of their value. Dillian writes: The reality is that leveraged ETFs are super complicated financial instruments certainly more so than futures, which are linear and plain vanilla because all you have to understand is margining and spreads. In a way, theyre more complicated than options. Theres plenty of math in options, but a closed-form equation describes them. Dillian notes that since 261 leveraged ETFs with $41 billion in AUM exist shows that they are not being used as their sponsors say that should be. This goes to show that the world of ETFs isnt perfect. The SEC likely made a mistake by approving leveraged ETFs in their current form but was on point when it approved the sector ETF. There is no shortage of silly themed, sector ETFs but that does not call into question their existence in the first place. ETFs are like, the financial blogosphere itself, an imperfect meritocracy . By and large the cream rises to the top. There is more than enough criticism to go around for all three constituents in ETF-land: sponsors, the SEC and investors alike. In light of all that ETFs have done in reducing fees and increasing access for investors it seems silly to say you are against ETFs. I recognize this simplifies the process greatly, but captures the main constituencies. Originally published at abnormalreturns.com on March 23, 2017. Disclaimer: Nothing on this site should ever be considered to be advice, research or an invitation to buy or sell any securities. Please see my Terms & Conditions page for a full disclaimer. Abnormal Returns is a participant in a number of affiliate advertising programs including the Amazon Services LLC Associates Program. You can see the entire list of affiliates here . \|\| It takes three to tango in ETF-land: Jim Cramer’sname doesn’t come up very often on this site. However a recent post by Cramer about ETFs garnered some attention and is worth addressing further. Cramer noted the decline in interest in stockpicking due to the rise of sector ETFs.From the article on CNBC: On a larger scale, however, Cramer said that ETFs have the power to distort stock valuations too dramatically for his liking. “At the end of the day, I’m against ETFs because they often create enormous distortions that can obliterate even the best of stocks,” Cramer said. “You have to accept a lot more risk if you own a stock that’s particularly hostage [to] a given ETF.” Todd Rosenbluthwriting atETF.comtook exception with Cramer on a number of fronts including the characterization of the ETF industry itself: Cramer attributed the rise in the number of ETFs to the financial services industry looking for a new way to make money; CFRA attributes the rise in assets in ETFs to investors tiring of underperforming active managers…While low fees play a role in these decisions, CFRA thinks that continued struggles by active managers to keep up with the index has resulted in more investors being comfortable with consistently average returns. Joel Dicksonwriting atETFdb.comrepresents some middle ground on the topic of ETFs. Dickson writes: Are ETFs perfect? No. There are probably too many of them. But the same could be said of traditional mutual funds, even index funds. Do all offer sound and durable investment strategies? Probably not. Neither do mutual funds…ETFs, like whiskey, require moderation. Moderation in use and moderation in the views pertaining to them. It’s hard to believe but I have been writing about ETFs since the outset of this blog back in 2005.One year later in 2006 I characterized ETFs as a “useful tool” and wrote: Feinberg is indeed correct in calling ETFs a “wonderful tool.” However the well-publicized advantages of ETFs can become a disadvantage in the wrong hands if used incorrectly. Unfortunately the ETF industry is continuing to populate the universe of ETFs with ever more complex and narrowly-based funds. Choice is indeed great, but as costs and complexity rise, the chance (and costs) of making a wrong decision also rise. Sometimes critics of ETFs believe that some how ETFs somehow exist in a vacuum. By that I mean they don’t accept that the growth in, and popularity of ETFs, is somehow made-up. The fact is that for every successful ETF, three things have to happen. 1. An ETF sponsor needs to come up with an idea for a fund; 2. The SEC needs to approve said fund; 3. Investors actually have to put money in the fund for it to survive. There are no shortage of ETFs that have passed the first two hurdles. The challenge is achieving the third. According toRon RowlandatInvest With an Edgethere have been some 700 ETF closures over time. In some cases a fund never gets past the second stage.Recently the SEC failed to approve an application for a Bitcoin ETF. Sector ETFs, which Cramer seems to most object to, exist because all three of the above criteria have been met. Sector funds are not in fact an invention of the ETF industry. Sector-focused mutual funds existed,see Fidelity’s line-up, long before the invention of the ETF. So it isn’t the existence of the sector fund that bugs critics, it is their popularity. That is not to say that ETFs are in any way, shape or form perfect. The way ETFs trade has put a great deal a great deal of pressure on the last half hour of trading.A few days ago a glitch on the NYSE’s Arca platformmade a mess of end-of-day pricing. During periods of market stressETFs have come under criticism for their inconsistent trading. Given the number of ETFs and their structure there will always be room for error in their trading. Source:WSJ Another valid criticism of ETFs is the existence of funds that in the hands of novice or amateur traders could do them damage. Inverse ETFs are a prime example of this.Jared Dillianwriting atBloomberg Viewtakes to task both the ETF industry and the SEC for the existence of inverse ETFs that if held in perpetuity would eventually lose all of their value. Dillian writes: The reality is that leveraged ETFs are super complicated financial instruments –certainly more so than futures, which are linear and plain vanilla because all you have to understand is margining and spreads. In a way, they’re more complicated than options. There’s plenty of math in options, but a closed-form equation describes them. Dillian notes that since 261 leveraged ETFs with $41 billion in AUM exist shows that they are not being used as their sponsors say that should be. This goes to show that the world of ETFs isn’t perfect. The SEC likely made a mistake by approving leveraged ETFs in their current form but was on point when it approved the sector ETF. There is no shortage of silly themed, sector ETFs but that does not call into question their existence in the first place. ETFs are like, the financial blogosphere itself, an “imperfect meritocracy.” By and large the cream rises to the top. There is more than enough criticism to go around for all three constituents in ETF-land: sponsors, the SEC and investors alike.In light of all that ETFs have done in reducing fees and increasing access for investorsit seems silly to say you are “against ETFs.” *I recognize this simplifies the process greatly, but captures the main constituencies. Originally published atabnormalreturns.comon March 23, 2017. Disclaimer: Nothing on this site should ever be considered to be advice, research or an invitation to buy or sell any securities. Please see myTerms & Conditions pagefor a full disclaimer. Abnormal Returns is a participant in a number of affiliate advertising programs including the Amazon Services LLC Associates Program.You can see the entire list of affiliates here. \|\| Bitcoins civil war threatens to blow up the cryptocurrency itself: People walk next to a crack along a damaged road leading to Alto Hospicio commune, after a series of aftershocks, in the northern port of Iquique It is not uncommon for a new technology still finding its footing to undergo periods of tumultwitness the long ago war over videotape formats VHS and Betamax. Bitcoin, the cryptocurrency growing in popularity, turns out to be no different. For the last several years, technical experts have been arguing over how to adapt the currencys software to allow it to handle more transactions and meet the increased demand. The debate has recently become so heated that it threatens to throw bitcoin itself into chaos, a phenomenon most clearly seen in the recent plunge in bitcoins price. Uber has taken its self-driving cars off the road after one flipped over in Arizona The conflict threatens to fork bitcoin, splitting it in two. Each branch would run a different version of the cryptocurrencys software. Bitcoins principal innovation has been its blockchain, an immutable ledger of all the transactions ever performed with the cryptocurrency. A fork would generate two versions of the ledger, creating practical problems, like coins that could vanish , and philosophical ones, like agreeing on which blockchain represents the one, true, bitcoin. The tension reached a fever pitch last week when bitcoins top exchanges (with some notable exceptions, such as Coinbase) issued a joint statement explaining how they would deal with the split, called a hard fork. This acknowledgement of the very real possibility of a fork sent bitcoin traders scrambling to sell their holdings. Bitcoin fell 24% over two days, from March 16, though it has recovered significantly . The most useful language for English speakers to learn, according to an economist Both camps have doubled down on their positions, and the saber rattling is growing louder. There is talk of of changing the proof-of-work algorithm that bitcoin runs on, which could render the bitcoin mining industry, which earns millions a day in revenue, useless in one fell swoop. Minerswho process transactions and also increase the total supply of bitcoin in circulationare now threatening legal action against developers who are working on such a proposal. Theres also a widely circulated conspiracy theory that involves John McAfee, the anti-virus entrepreneur whos embroiled in a murder case in Belize . McAfee is supposedly colluding with a powerful Chinese miner to force a fork. The arguments The bickering over the right way to grow bitcoins transaction capacity is known as the block size debate. It has been raging for years. Last January it claimed a famous victim: longtime Core developer Mike Hearn, who quit the bitcoin world dramatically (paywall) because of the block size impasse. As if on cue, Hearns departure was dismissed as a whiny ragequit and the battle continued. Story continues The squabble over block size has divided the bitcoin world into the Bitcoin Core and Bitcoin Unlimited camps. The Core group, trading under the current BTC ticker, wants to solve the transaction problem by implementing a clever workaround called Segregated Witness, or SegWit, that will effectively increase the block size from the current 1 megabyte to 2 megabytes. The 1 MB restriction was an arbitrary limit put in place by bitcoins creator, Satoshi Nakamoto; some speculate it was to ensure that the bitcoin blockchain could be easily downloaded by users, and thus encourage adoption. In any case, it was a problem to be dealt with only if bitcoin succeeded. The Bitcoin Unlimited camp, which would trade under a new ticker symbol BCU, wants to remove any restriction on block size and thus transaction capacity. But that would force a hard fork and two bitcoins would then inhabit the Earth. The Unlimited camp is backed by Roger Ver, an early bitcoin adopter whose relentless evangelizing for the cryptocurrency earned him the moniker Bitcoin Jesus . Unlimited is also backed by major miners, and part of its pitch is that miners should decide on block sizes. It proposes to do this by letting miners set their own caps for blocks, reasoning that eventually, miners will come to an agreement about what the optimal block size should be. Supporters of Core argue that the Unlimited code is riddled with bugs. Indeed, last week a bug was exploited, sending 70% of Unlimited nodes offline thus reducing the amount of processing power devoted to implementing it. But Core is making a larger, philosophical point, about who controls the bitcoin network. They dont like the idea of miners setting block sizes because they believe it increases centralization of bitcoin. Without a block size cap, powerful miners can simply mine bigger blocks, and thus be responsible for larger chunks of the bitcoin network, entrenching themselves further. Coffee money or digital gold? Theres also a struggle about bitcoins function. As Adam White, who runs the GDAX exchange, tells Forbes , the Core camp wants to treat bitcoin as digital gold: a finite resource whose fundamental properties cant be changed. The Unlimited folks want bitcoin to be digital cash, with limitless transaction capacity so that everyday payments can be recorded on the blockchain. Vinny Lingham, a noted analyst of the bitcoin industry, observes : Roger [Ver] wants cheap coffee transactions, Core wants to ensure [bitcoin is] sufficiently decentralized and secure. Still, bitcoins blocks are getting filled up, meaning transactions cant be processed quickly enoughhence the urgency for a solution. Critics say that Core developers proposal for a 2 MB block size, SegWit, simply delays the inevitablea hard forkbecause it doesnt raise the cap enough. A solution to Satoshis block size limit can no longer be avoided. Whos winning? So whos winning? One exchange has opened what is effectively a prediction market for a hard fork. It lets traders buy tokens representing the adoption of either Core or Unlimited. If Unlimited isnt adopted, and a fork doesnt occur, Unlimited tokens become worthless. By this measure Core is winning: tokens representing its adoption are worth four times the Unlimited tokens. But Unlimited is gaining ground among miners. About 40% of the processing power, or hashrate, on the bitcoin network supports Unlimited, compared to 60% supporting Core, according to analytics site Coin Dance . And the gap is rapidly closing. The picture isnt as simple as whos got more hashing power. In order for Cores SegWit proposal to be adopted, 95% of hashing power must be devoted to it, according to a threshold set by its developers. Unlimited doesnt have a fixed threshold. Instead, it relies on a rather circular logic: It can only be adopted if miners decide to admit blocks larger than the current 1 MB, but miners would only have an incentive to so if other miners did the same. Its kind of like people getting together to cross a road. Everyone holds hands and then someone decides to cross and everybody crosses with it, one Redditor explained . A hard fork isnt unprecedented for a major cryptocurrency. Ethereum experienced this after a hack , birthing whats now known as ethereum classic . The fork also arose from ideological disagreements: The solution to the hack was to undo some transactions, which struck some ethereum users as an unprincipled move. A blockchains immutability is one of the pillars of the cryptocurrency world. Today the two coexist; there is even a publicly traded ethereum classic fund for the over-the-counter markets, although the value of all ethereum in circulation is about 18 times greater than ethereum classic. But ethereum is a lot younger than bitcoin; it was only a year old when it split. The value of all ethereum in circulation is about a quarter of bitcoins current $17 billion value. A messy hard fork for bitcoin could mean serious disruptions for miners, who operate industrial-scale facilities, the well-funded exchanges, and the myriad startups who have raised $1.5 billion in venture capital collectively since 2012. A lot is riding on the question of how to scale bitcoin, and the conflict is showing no signs of easing up. Read this next: Bitcoin might just be a plausible response to the war on cash declared by governments around the world Sign up for the Quartz Daily Brief , our free daily newsletter with the worlds most important and interesting news. More stories from Quartz: Employee burnout is becoming a huge problem in the American workforce IBM, remote-work pioneer, is calling thousands of employees back to the office View comments \|\| Bitcoins civil war threatens to blow up the cryptocurrency itself: People walk next to a crack along a damaged road leading to Alto Hospicio commune, after a series of aftershocks, in the northern port of Iquique It is not uncommon for a new technology still finding its footing to undergo periods of tumultwitness the long ago war over videotape formats VHS and Betamax. Bitcoin, the cryptocurrency growing in popularity, turns out to be no different. For the last several years, technical experts have been arguing over how to adapt the currencys software to allow it to handle more transactions and meet the increased demand. The debate has recently become so heated that it threatens to throw bitcoin itself into chaos, a phenomenon most clearly seen in the recent plunge in bitcoins price. Uber has taken its self-driving cars off the road after one flipped over in Arizona The conflict threatens to fork bitcoin, splitting it in two. Each branch would run a different version of the cryptocurrencys software. Bitcoins principal innovation has been its blockchain, an immutable ledger of all the transactions ever performed with the cryptocurrency. A fork would generate two versions of the ledger, creating practical problems, like coins that could vanish , and philosophical ones, like agreeing on which blockchain represents the one, true, bitcoin. The tension reached a fever pitch last week when bitcoins top exchanges (with some notable exceptions, such as Coinbase) issued a joint statement explaining how they would deal with the split, called a hard fork. This acknowledgement of the very real possibility of a fork sent bitcoin traders scrambling to sell their holdings. Bitcoin fell 24% over two days, from March 16, though it has recovered significantly . The most useful language for English speakers to learn, according to an economist Both camps have doubled down on their positions, and the saber rattling is growing louder. There is talk of of changing the proof-of-work algorithm that bitcoin runs on, which could render the bitcoin mining industry, which earns millions a day in revenue, useless in one fell swoop. Minerswho process transactions and also increase the total supply of bitcoin in circulationare now threatening legal action against developers who are working on such a proposal. Theres also a widely circulated conspiracy theory that involves John McAfee, the anti-virus entrepreneur whos embroiled in a murder case in Belize . McAfee is supposedly colluding with a powerful Chinese miner to force a fork. The arguments The bickering over the right way to grow bitcoins transaction capacity is known as the block size debate. It has been raging for years. Last January it claimed a famous victim: longtime Core developer Mike Hearn, who quit the bitcoin world dramatically (paywall) because of the block size impasse. As if on cue, Hearns departure was dismissed as a whiny ragequit and the battle continued. Story continues The squabble over block size has divided the bitcoin world into the Bitcoin Core and Bitcoin Unlimited camps. The Core group, trading under the current BTC ticker, wants to solve the transaction problem by implementing a clever workaround called Segregated Witness, or SegWit, that will effectively increase the block size from the current 1 megabyte to 2 megabytes. The 1 MB restriction was an arbitrary limit put in place by bitcoins creator, Satoshi Nakamoto; some speculate it was to ensure that the bitcoin blockchain could be easily downloaded by users, and thus encourage adoption. In any case, it was a problem to be dealt with only if bitcoin succeeded. The Bitcoin Unlimited camp, which would trade under a new ticker symbol BCU, wants to remove any restriction on block size and thus transaction capacity. But that would force a hard fork and two bitcoins would then inhabit the Earth. The Unlimited camp is backed by Roger Ver, an early bitcoin adopter whose relentless evangelizing for the cryptocurrency earned him the moniker Bitcoin Jesus . Unlimited is also backed by major miners, and part of its pitch is that miners should decide on block sizes. It proposes to do this by letting miners set their own caps for blocks, reasoning that eventually, miners will come to an agreement about what the optimal block size should be. Supporters of Core argue that the Unlimited code is riddled with bugs. Indeed, last week a bug was exploited, sending 70% of Unlimited nodes offline thus reducing the amount of processing power devoted to implementing it. But Core is making a larger, philosophical point, about who controls the bitcoin network. They dont like the idea of miners setting block sizes because they believe it increases centralization of bitcoin. Without a block size cap, powerful miners can simply mine bigger blocks, and thus be responsible for larger chunks of the bitcoin network, entrenching themselves further. Coffee money or digital gold? Theres also a struggle about bitcoins function. As Adam White, who runs the GDAX exchange, tells Forbes , the Core camp wants to treat bitcoin as digital gold: a finite resource whose fundamental properties cant be changed. The Unlimited folks want bitcoin to be digital cash, with limitless transaction capacity so that everyday payments can be recorded on the blockchain. Vinny Lingham, a noted analyst of the bitcoin industry, observes : Roger [Ver] wants cheap coffee transactions, Core wants to ensure [bitcoin is] sufficiently decentralized and secure. Still, bitcoins blocks are getting filled up, meaning transactions cant be processed quickly enoughhence the urgency for a solution. Critics say that Core developers proposal for a 2 MB block size, SegWit, simply delays the inevitablea hard forkbecause it doesnt raise the cap enough. A solution to Satoshis block size limit can no longer be avoided. Whos winning? So whos winning? One exchange has opened what is effectively a prediction market for a hard fork. It lets traders buy tokens representing the adoption of either Core or Unlimited. If Unlimited isnt adopted, and a fork doesnt occur, Unlimited tokens become worthless. By this measure Core is winning: tokens representing its adoption are worth four times the Unlimited tokens. But Unlimited is gaining ground among miners. About 40% of the processing power, or hashrate, on the bitcoin network supports Unlimited, compared to 60% supporting Core, according to analytics site Coin Dance . And the gap is rapidly closing. The picture isnt as simple as whos got more hashing power. In order for Cores SegWit proposal to be adopted, 95% of hashing power must be devoted to it, according to a threshold set by its developers. Unlimited doesnt have a fixed threshold. Instead, it relies on a rather circular logic: It can only be adopted if miners decide to admit blocks larger than the current 1 MB, but miners would only have an incentive to so if other miners did the same. Its kind of like people getting together to cross a road. Everyone holds hands and then someone decides to cross and everybody crosses with it, one Redditor explained . A hard fork isnt unprecedented for a major cryptocurrency. Ethereum experienced this after a hack , birthing whats now known as ethereum classic . The fork also arose from ideological disagreements: The solution to the hack was to undo some transactions, which struck some ethereum users as an unprincipled move. A blockchains immutability is one of the pillars of the cryptocurrency world. Today the two coexist; there is even a publicly traded ethereum classic fund for the over-the-counter markets, although the value of all ethereum in circulation is about 18 times greater than ethereum classic. But ethereum is a lot younger than bitcoin; it was only a year old when it split. The value of all ethereum in circulation is about a quarter of bitcoins current $17 billion value. A messy hard fork for bitcoin could mean serious disruptions for miners, who operate industrial-scale facilities, the well-funded exchanges, and the myriad startups who have raised $1.5 billion in venture capital collectively since 2012. A lot is riding on the question of how to scale bitcoin, and the conflict is showing no signs of easing up. Read this next: Bitcoin might just be a plausible response to the war on cash declared by governments around the world Sign up for the Quartz Daily Brief , our free daily newsletter with the worlds most important and interesting news. More stories from Quartz: Employee burnout is becoming a huge problem in the American workforce IBM, remote-work pioneer, is calling thousands of employees back to the office View comments \|\| Bitcoins civil war threatens to blow up the cryptocurrency itself: People walk next to a crack along a damaged road leading to Alto Hospicio commune, after a series of aftershocks, in the northern port of Iquique It is not uncommon for a new technology still finding its footing to undergo periods of tumultwitness the long ago war over videotape formats VHS and Betamax. Bitcoin, the cryptocurrency growing in popularity, turns out to be no different. For the last several years, technical experts have been arguing over how to adapt the currencys software to allow it to handle more transactions and meet the increased demand. The debate has recently become so heated that it threatens to throw bitcoin itself into chaos, a phenomenon most clearly seen in the recent plunge in bitcoins price. Uber has taken its self-driving cars off the road after one flipped over in Arizona The conflict threatens to fork bitcoin, splitting it in two. Each branch would run a different version of the cryptocurrencys software. Bitcoins principal innovation has been its blockchain, an immutable ledger of all the transactions ever performed with the cryptocurrency. A fork would generate two versions of the ledger, creating practical problems, like coins that could vanish , and philosophical ones, like agreeing on which blockchain represents the one, true, bitcoin. The tension reached a fever pitch last week when bitcoins top exchanges (with some notable exceptions, such as Coinbase) issued a joint statement explaining how they would deal with the split, called a hard fork. This acknowledgement of the very real possibility of a fork sent bitcoin traders scrambling to sell their holdings. Bitcoin fell 24% over two days, from March 16, though it has recovered significantly . The most useful language for English speakers to learn, according to an economist Both camps have doubled down on their positions, and the saber rattling is growing louder. There is talk of of changing the proof-of-work algorithm that bitcoin runs on, which could render the bitcoin mining industry, which earns millions a day in revenue, useless in one fell swoop. Minerswho process transactions and also increase the total supply of bitcoin in circulationare now threatening legal action against developers who are working on such a proposal. Theres also a widely circulated conspiracy theory that involves John McAfee, the anti-virus entrepreneur whos embroiled in a murder case in Belize . McAfee is supposedly colluding with a powerful Chinese miner to force a fork. The arguments The bickering over the right way to grow bitcoins transaction capacity is known as the block size debate. It has been raging for years. Last January it claimed a famous victim: longtime Core developer Mike Hearn, who quit the bitcoin world dramatically (paywall) because of the block size impasse. As if on cue, Hearns departure was dismissed as a whiny ragequit and the battle continued. Story continues The squabble over block size has divided the bitcoin world into the Bitcoin Core and Bitcoin Unlimited camps. The Core group, trading under the current BTC ticker, wants to solve the transaction problem by implementing a clever workaround called Segregated Witness, or SegWit, that will effectively increase the block size from the current 1 megabyte to 2 megabytes. The 1 MB restriction was an arbitrary limit put in place by bitcoins creator, Satoshi Nakamoto; some speculate it was to ensure that the bitcoin blockchain could be easily downloaded by users, and thus encourage adoption. In any case, it was a problem to be dealt with only if bitcoin succeeded. The Bitcoin Unlimited camp, which would trade under a new ticker symbol BCU, wants to remove any restriction on block size and thus transaction capacity. But that would force a hard fork and two bitcoins would then inhabit the Earth. The Unlimited camp is backed by Roger Ver, an early bitcoin adopter whose relentless evangelizing for the cryptocurrency earned him the moniker Bitcoin Jesus . Unlimited is also backed by major miners, and part of its pitch is that miners should decide on block sizes. It proposes to do this by letting miners set their own caps for blocks, reasoning that eventually, miners will come to an agreement about what the optimal block size should be. Supporters of Core argue that the Unlimited code is riddled with bugs. Indeed, last week a bug was exploited, sending 70% of Unlimited nodes offline thus reducing the amount of processing power devoted to implementing it. But Core is making a larger, philosophical point, about who controls the bitcoin network. They dont like the idea of miners setting block sizes because they believe it increases centralization of bitcoin. Without a block size cap, powerful miners can simply mine bigger blocks, and thus be responsible for larger chunks of the bitcoin network, entrenching themselves further. Coffee money or digital gold? Theres also a struggle about bitcoins function. As Adam White, who runs the GDAX exchange, tells Forbes , the Core camp wants to treat bitcoin as digital gold: a finite resource whose fundamental properties cant be changed. The Unlimited folks want bitcoin to be digital cash, with limitless transaction capacity so that everyday payments can be recorded on the blockchain. Vinny Lingham, a noted analyst of the bitcoin industry, observes : Roger [Ver] wants cheap coffee transactions, Core wants to ensure [bitcoin is] sufficiently decentralized and secure. Still, bitcoins blocks are getting filled up, meaning transactions cant be processed quickly enoughhence the urgency for a solution. Critics say that Core developers proposal for a 2 MB block size, SegWit, simply delays the inevitablea hard forkbecause it doesnt raise the cap enough. A solution to Satoshis block size limit can no longer be avoided. Whos winning? So whos winning? One exchange has opened what is effectively a prediction market for a hard fork. It lets traders buy tokens representing the adoption of either Core or Unlimited. If Unlimited isnt adopted, and a fork doesnt occur, Unlimited tokens become worthless. By this measure Core is winning: tokens representing its adoption are worth four times the Unlimited tokens. But Unlimited is gaining ground among miners. About 40% of the processing power, or hashrate, on the bitcoin network supports Unlimited, compared to 60% supporting Core, according to analytics site Coin Dance . And the gap is rapidly closing. The picture isnt as simple as whos got more hashing power. In order for Cores SegWit proposal to be adopted, 95% of hashing power must be devoted to it, according to a threshold set by its developers. Unlimited doesnt have a fixed threshold. Instead, it relies on a rather circular logic: It can only be adopted if miners decide to admit blocks larger than the current 1 MB, but miners would only have an incentive to so if other miners did the same. Its kind of like people getting together to cross a road. Everyone holds hands and then someone decides to cross and everybody crosses with it, one Redditor explained . A hard fork isnt unprecedented for a major cryptocurrency. Ethereum experienced this after a hack , birthing whats now known as ethereum classic . The fork also arose from ideological disagreements: The solution to the hack was to undo some transactions, which struck some ethereum users as an unprincipled move. A blockchains immutability is one of the pillars of the cryptocurrency world. Today the two coexist; there is even a publicly traded ethereum classic fund for the over-the-counter markets, although the value of all ethereum in circulation is about 18 times greater than ethereum classic. But ethereum is a lot younger than bitcoin; it was only a year old when it split. The value of all ethereum in circulation is about a quarter of bitcoins current $17 billion value. A messy hard fork for bitcoin could mean serious disruptions for miners, who operate industrial-scale facilities, the well-funded exchanges, and the myriad startups who have raised $1.5 billion in venture capital collectively since 2012. A lot is riding on the question of how to scale bitcoin, and the conflict is showing no signs of easing up. Read this next: Bitcoin might just be a plausible response to the war on cash declared by governments around the world Sign up for the Quartz Daily Brief , our free daily newsletter with the worlds most important and interesting news. More stories from Quartz: Employee burnout is becoming a huge problem in the American workforce IBM, remote-work pioneer, is calling thousands of employees back to the office View comments \|\| Hackers Threaten to Wipe iPhones Unless Apple Pays Ransom: A hacker group is trying to extort up to $100,000 from Apple by threatening to remotely wipe hundreds of millions of iPhones and iCloud accounts it claims it has accessed. The Vice website blogMotherboardreports that the hackers — who call themselves the “Turkish Crime Family” — are demanding that Apple either fork over $75,000 in cryptocurrencies Bitcoin or Ethereum or give them $100,000 worth of iTunes gift cards. In exchange, the hackers say they’ll delete the large cache of iCloud and Apple email account data they claim to have. Motherboard says the cybercriminals allegedly have access to anywhere between 300 million and 559 million accounts. The Turkish Crime Family has given Apple a deadline of April 7 to meet its demands. However, before you panic at the thought of losing all your iPhone’s data — including pictures, videos and other files — an Apple spokesperson tellsFortunethat its systems are secure and have not been breached. In an emailed statement to Fortune, an Apple spokesperson writes: “There have not been any breaches in any of Apple’s systems including iCloud and Apple ID. The alleged list of email addresses and passwords appears to have been obtained from previously compromised third-party services.” According to Fortune, it’s possible the hackers’ alleged data cache is from a previous data breach at LinkedIn. Even if Apple’s response leaves you reassured that your iPhone and iCloud data are safe, this is a good reminder to take extra measures to safeguard your personal information and electronic data. For example, activate two-factor authentication and make sure you’re not using the same password on multiple sites. According to Fortune: Apple customers who secure their iCloud accounts with the same passwords they use on other online accounts—especially ones at LinkedIn, Yahoo, Dropbox, and other sites recently revealed to have suffered big breaches over the past few years—should adopt new passwords that are long, strong, and unique. For more on staying secure, check out: • “7 Ways to Guard Your Wallet — and Identity — When Shopping Online“ • “5 Free Tools That Identify Secure Websites“ • “Change Your LinkedIn Password — and Others — ASAP“ Have you had your data stolen before? Share your experiences below or onFacebook. This article was originally published onMoneyTalksNews.comas'Hackers Threaten to Wipe iPhones Unless Apple Pays Ransom'. • 15 Painless Ways to Save $1,000 by Summer • 30 Awesome Things to Do in Retirement • Secret Cell Plans: Savings Verizon, AT&T, T-Mobile and Sprint Don’t Want You to Know About [Social Media Buzz] Price Alert: NuShares 12.00% 1h change $NSR - Current Price: 0.00000028 BTC \| More #NSR Info http://crypto.press/coins/NSR-NuShares … #CryptoPress \|\| Try fatguyslim.gary at https://LocalBitcoins.com/ad/325323?ch=w7m … only £848.00 per BTC. (BPI +2.69%) #buy #bitcoin #banktrans \|\| Bitcoin price one year ago today: USD$415.55, representing a 148.35% increase. [NOW: USD$1032.00] \|\| 1 #BTC (#Bitcoin) quotes: $1043.21/$1045.19 #Bitstamp $1051.00/$1052.00 #BTCe ⇢$5.81/$8.79 $1043.26/$1053.85 #Coinbas...	1039.97, 1026.43, 1071.79, 1080.50, 1102.17, 1143.81, 1133.25, 1124.78, 1182.68, 1176.90
Given the historical Bitcoin prices from the last 90 days, predict the next 10 daily closing prices. The historical prices are: 38144.31, 39266.01, 38903.44, 46196.46, 46481.11, 44918.18, 47909.33, 47504.85, 47105.52, 48717.29, 47945.06, 49199.87, 52149.01, 51679.80, 55888.13, 56099.52, 57539.95, 54207.32, 48824.43, 49705.33, 47093.85, 46339.76, 46188.45, 45137.77, 49631.24, 48378.99, 50538.24, 48561.17, 48927.30, 48912.38, 51206.69, 52246.52, 54824.12, 56008.55, 57805.12, 57332.09, 61243.09, 59302.32, 55907.20, 56804.90, 58870.89, 57858.92, 58346.65, 58313.64, 57523.42, 54529.14, 54738.95, 52774.27, 51704.16, 55137.31, 55973.51, 55950.75, 57750.20, 58917.69, 58918.83, 59095.81, 59384.31, 57603.89, 58758.55, 59057.88, 58192.36, 56048.94, 58323.95, 58245.00, 59793.23, 60204.96, 59893.45, 63503.46, 63109.70, 63314.01, 61572.79, 60683.82, 56216.18, 55724.27, 56473.03, 53906.09, 51762.27, 51093.65, 50050.87, 49004.25, 54021.75, 55033.12, 54824.70, 53555.11, 57750.18, 57828.05, 56631.08, 57200.29, 53333.54, 57424.01.	[Bitcoin Technical Analysis for 2021-05-05] Volume: 69241316747, RSI (14-day): 53.12, 50-day EMA: 55281.85, 200-day EMA: 40918.93 [Wider Market Context] Gold Price: 1784.10, Gold RSI: 57.05 Oil Price: 65.63, Oil RSI: 62.09 [Recent News (last 7 days)] 5 Awaited Mainnet Launches for 2021: The cryptocurrency and blockchain ecosystem continues to grow and evolve. Numerous projects are on the cusp of launching their mainnet or enhancing the overall experience. More competition and collaboration in this industry will benefit both developers and users globally. Creating A More Competitive Landscape Whereas many people think cryptocurrencies and blockchains don't extend beyond Bitcoin and Ethereum, the reality is very different. Despite their popularity, both of these prominent ecosystems have shortcomings that need to be addressed or overcome. That hasn't proven easy, although it is also an opportunity for alternative projects to make their impact on this buzzing industry. With so many new projects looking to launch their mainnet for the first time, there's ample excitement in the industry. Up-and-coming mainnet launches tend to get users and investors excited. It is a crucial milestone for a project that is in development to bring its existing technology to a broader audience. For existing projects, upgrades of their existing technology are equally essential. Several teams of developers will be introducing crucial upgrades to their existing ecosystem in the months to come. All of these upgrades and launches will make the crypto and blockchain ecosystem more competitive and appealing. Radix Radix is building a layer-one network specifically for the DeFi market. The first version of the Radix Public Network will be launching at the end of Q2'2021. Radix released betanet to the public on April 28 2021, marking the start of their vision of supporting a multi-trillion dollar DeFi market. With over $22.7m in financial backing, the team has been able to build an ecosystem using the novel Cerberus consensus algorithm. The Cerberus consensus algorithm is at the core of Radix's technology, using a highly sharded network to provide theoretically unlimited linear scalability when fully deployed. Combined with the Radix Engine and novel Scrypto programming language, the components of Radix's purpose built DeFi development environment, and their system of on-ledger developer royalties system, Radix aims to be the only decentralized network where developers will be able to build quickly without the constant threat of exploits and hacks, where every improvement will get rewarded, and where scale will never be a bottleneck. Story continues Uniswap V3 As the biggest decentralized exchange on the market today, Uniswap is a household name most cryptocurrency enthusiasts are familiar with. Come May 5, 2021, the developers will release the third iteration of this decentralized exchange to the public. It will feature various upgrades, although the scalable Optimism L2 deployment will happen at a later date. The big upgrade to look forward to is the introduction of Concentrated Liquidity positions. Every liquidity provider has full control over the price ranges they want to provide liquidity for. Choosing this option will not reduce fees earned by LPs, yet it provides a way of keeping the portfolio in desired assets longer. A welcome upgrade for those who are active users of this decentralized exchange. Theta Mainnet 3.0 Although the Theta developers had to push the mainnet 3.0 launch back from April 21 to June 30, there is still ample excitement regarding this upcoming upgrade . With the introduction of TFUEL staking and burning, the native asset will have more appeal. This approach adds a cost for using the Theta edge network to balance against the new TFuel supply. The second major upgrade of the mainnet 3.0 launch is the Elite Edge Nodes enabling Uptime mining. It is a big step toward tokenizing internet bandwidth and availability. Elite Edge Node operators can earn TFuel tokens from staking and enabling higher network performance. NEO Mainnet 3.0 Many crypto projects constantly evolve and upgrade their infrastructure and technology. For Neo, the main objective is to introduce a native oracle network to enhance existing and future smart contracts on this blockchain. More importantly, the Neo Foundation and Neo Global Development will foster new products and solutions by reliable teams. Another crucial aspect of this upcoming upgrade is the introduction of governance. Allowing community members to have a say in matters about proposals and improvements is essential. A total of 21 members will make up the committee, with community members being eligible to run for most seats. The NEO Mainnet 3.0 launch will occur in late September 2021. Reef Finance As a network position itself as the blockchain for next-gen decentralized finance applications, Reef Finance has high expectations to live up to. Its mainnet - the Reef Chain - will go live in late May 2021 and will feature full EMV compatibility for developers willing to port applications from Ethereum. According to the blog post, several developers have already committed to porting their code over. The main selling point is how Reef Chain - built on Substrate - will offer high throughput, security, and low fees. For DApps, the option to aggregate liquidity from multiple sources will prove beneficial. Additionally, the ecosystem will provide multiple levels of support for teams building on this mainnet and those who seek out funding. There is a lot to look forward to for fans of the cryptocurrency projects mentioned above. Many projects are either dipping their toe into the world of technology for the first time, whereas others are beefing up their ecosystems to remain competitive. The cryptocurrency industry is very competitive, and both existing and upcoming projects need to keep stepping up their game. Developers can unlock a lot of use cases with the help of blockchain technology and cryptocurrencies. Experimenting with the different options and expanding upon concepts that have proven to attract attention will make it easier for onlookers to become part of these ecosystems. See more from Benzinga Click here for options trades from Benzinga 10 Questions for Brad Yasar, CEO of EQIFI Exclusive Interview with Can Mandir © 2021 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. \|\| 5 Awaited Mainnet Launches for 2021: The cryptocurrency and blockchain ecosystem continues to grow and evolve. Numerous projects are on the cusp of launching their mainnet or enhancing the overall experience. More competition and collaboration in this industry will benefit both developers and users globally. Creating A More Competitive Landscape Whereas many people think cryptocurrencies and blockchains don't extend beyond Bitcoin and Ethereum, the reality is very different. Despite their popularity, both of these prominent ecosystems have shortcomings that need to be addressed or overcome. That hasn't proven easy, although it is also an opportunity for alternative projects to make their impact on this buzzing industry. With so many new projects looking to launch their mainnet for the first time, there's ample excitement in the industry. Up-and-coming mainnet launches tend to get users and investors excited. It is a crucial milestone for a project that is in development to bring its existing technology to a broader audience. For existing projects, upgrades of their existing technology are equally essential. Several teams of developers will be introducing crucial upgrades to their existing ecosystem in the months to come. All of these upgrades and launches will make the crypto and blockchain ecosystem more competitive and appealing. Radix Radixis building a layer-one network specifically for the DeFi market. The first version of the Radix Public Network will be launching at the end of Q2'2021. Radix released betanet to the public on April 28 2021, marking the start of their vision of supporting a multi-trillion dollar DeFi market. With over $22.7m in financial backing, the team has been able to build an ecosystem using the novel Cerberus consensus algorithm. The Cerberus consensus algorithm is at the core of Radix's technology, using a highly sharded network to provide theoretically unlimited linear scalability when fully deployed. Combined with the Radix Engine and novel Scrypto programming language, the components of Radix's purpose built DeFi development environment, and their system of on-ledger developer royalties system, Radix aims to be the only decentralized network where developers will be able to build quickly without the constant threat of exploits and hacks, where every improvement will get rewarded, and where scale will never be a bottleneck. Uniswap V3 As the biggest decentralized exchange on the market today, Uniswap is a household name most cryptocurrency enthusiasts are familiar with. Come May 5, 2021, the developers willreleasethe third iteration of this decentralized exchange to the public. It will feature various upgrades, although thescalable OptimismL2 deployment will happen at a later date. The big upgrade to look forward to is the introduction of Concentrated Liquidity positions. Every liquidity provider has full control over the price ranges they want to provide liquidity for. Choosing this option will not reduce fees earned by LPs, yet it provides a way of keeping the portfolio in desired assets longer. A welcome upgrade for those who are active users of this decentralized exchange. Theta Mainnet 3.0 Although the Theta developers had to push the mainnet 3.0 launch back from April 21 to June 30, there is still ample excitement regarding this upcomingupgrade. With the introduction of TFUEL staking and burning, the native asset will have more appeal. This approach adds a cost for using the Theta edge network to balance against the new TFuel supply. The second major upgrade of the mainnet 3.0 launch is the Elite Edge Nodes enabling Uptime mining. It is a big step toward tokenizing internet bandwidth and availability. Elite Edge Node operators can earn TFuel tokens from staking and enabling higher network performance. NEO Mainnet 3.0 Many crypto projects constantly evolve and upgrade their infrastructure and technology. For Neo, the main objective is tointroducea native oracle network to enhance existing and future smart contracts on this blockchain. More importantly, the Neo Foundation and Neo Global Development will foster new products and solutions by reliable teams. Another crucial aspect of this upcoming upgrade is the introduction of governance. Allowing community members to have a say in matters about proposals and improvements is essential. A total of 21 members will make up the committee, with community members being eligible to run for most seats. The NEO Mainnet 3.0 launch will occur in late September 2021. Reef Finance As a network position itself as the blockchain for next-gen decentralized finance applications, Reef Finance has high expectations to live up to. Its mainnet - the Reef Chain - willgo livein late May 2021 and will feature full EMV compatibility for developers willing to port applications from Ethereum. According to the blog post, several developers have already committed to porting their code over. The main selling point is how Reef Chain - built on Substrate - will offer high throughput, security, and low fees. For DApps, the option to aggregate liquidity from multiple sources will prove beneficial. Additionally, the ecosystem will provide multiple levels of support for teams building on this mainnet and those who seek out funding. There is a lot to look forward to for fans of the cryptocurrency projects mentioned above. Many projects are either dipping their toe into the world of technology for the first time, whereas others are beefing up their ecosystems to remain competitive. The cryptocurrency industry is very competitive, and both existing and upcoming projects need to keep stepping up their game. Developers can unlock a lot of use cases with the help of blockchain technology and cryptocurrencies. Experimenting with the different options and expanding upon concepts that have proven to attract attention will make it easier for onlookers to become part of these ecosystems. See more from Benzinga • Click here for options trades from Benzinga • 10 Questions for Brad Yasar, CEO of EQIFI • Exclusive Interview with Can Mandir © 2021 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. \|\| Unido and Hypersign Partnership is the Missing Piece in DeFi Enterprise Security: UNIDO private key management and Hypersign’s DID infrastructure to provide enterprises with secure identity and access management. Institutional interest in the blockchain and cryptocurrency industry is old news by now. Last year, the OCC allowed banks to provide custody of these digital assets and even former Bitcoin detractors such as J.P. Morgan have jumped in on the potential of these services. Likewise, established fintech companies such as PayPal have started to look into security solutions that will become necessary as it expands its services into crypto payments. The company recently acquired an Israeli security firm in an effort to meet these needs. This is telling. The ongoing infrastructure issues relating to security and governance have kept many companies and asset management firms on the fence when it comes to their participation in the blockchain industry and its most promising sector, decentralized finance. Data aggregator DeFi Pulse now marks the total value locked into these applications at over $76 billion. More than a ten-fold increase from $600 million only a year ago. For most businesses and institutions, however, the current solutions for private key management in the space are not safe enough. They require better custody services before taking a step into these promising new markets. Blockchain enterprise platform Unido and the Hypersign protocol have recently partnered to provide such a solution. Both companies’ technology can be used in combination to streamline multi-party authentication and provide the kind of custody services that larger investors need. Established by a veteran team of ex-Goldman Sachs and Enterprise Technology executives in 2017, Unido enables institutions and corporate clients to securely store, manage and invest their crypto assets into decentralized finance networks. Hypersign, on the other hand, is a simple-to-use authentication and security solution developed by Hypermine Labs. Story continues Unido’s proprietary key management solution prevents users from losing, corrupting or compromising their mnemonics and private keys using technology known as multiparty computation or MPC. It works by breaking up private keys, encrypting them and sharing them with multiple parties. This vastly reduces the chances of the key being lost or stolen and allows multiple members to have different levels of access and usage rights to a wallet or account. In tandem with these features, the platform will now be able to take advantage of Hypersign’s Cross-chain DID Infrastructure. This will allow it to implement enterprise-grade access management tools and features for its users. While existing applications use third-parties services like OTP-based authentication or social logins such as Facebook or Google, Hypersign takes a different approach to user-level security, authentication, verification and authorization of user data. It relies on a combination of decentralized identifiers and public key infrastructure to improve upon these models. By working together, Unido and Hypersign could provide a viable solution to the security and custody issues that hinder the decentralized finance markets. The partnership could be the missing piece for greater enterprise adoption, providing the assurances that some conservative investors need before joining the space. See more from Benzinga Click here for options trades from Benzinga Bittrex Global Lists New Solutions for Gaming, Scalability, and Adaptive Currencies A Big Step For BitMart & Uberstate © 2021 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. \|\| Unido and Hypersign Partnership is the Missing Piece in DeFi Enterprise Security: UNIDO private key management and Hypersign’s DID infrastructure to provide enterprises with secure identity and access management. Institutional interest in the blockchain and cryptocurrency industry is old news by now. Last year, the OCCallowedbanks to provide custody of these digital assets and even former Bitcoin detractors such as J.P. Morgan havejumped inon the potential of these services. Likewise, established fintech companies such as PayPal have started to look into security solutions that will become necessary as it expands its services into crypto payments. The company recentlyacquiredan Israeli security firm in an effort to meet these needs. This is telling. The ongoing infrastructure issues relating to security and governance have kept many companies and asset management firms on the fence when it comes to their participation in the blockchain industry and its most promising sector, decentralized finance. Data aggregator DeFi Pulse now marks the total value locked into these applications at over $76 billion. More than a ten-fold increase from $600 million only a year ago. For most businesses and institutions, however, the current solutions for private key management in the space are not safe enough. They require better custody services before taking a step into these promising new markets. Blockchain enterprise platformUnidoand theHypersignprotocol have recently partnered to provide such a solution. Both companies’ technology can be used in combination to streamline multi-party authentication and provide the kind of custody services that larger investors need. Established by a veteran team of ex-Goldman Sachs and Enterprise Technology executives in 2017, Unido enables institutions and corporate clients to securely store, manage and invest their crypto assets into decentralized finance networks. Hypersign, on the other hand, is a simple-to-use authentication and security solution developed by Hypermine Labs. Unido’s proprietary key management solution prevents users from losing, corrupting or compromising their mnemonics and private keys using technology known as multiparty computation or MPC. It works by breaking up private keys, encrypting them and sharing them with multiple parties. This vastly reduces the chances of the key being lost or stolen and allows multiple members to have different levels of access and usage rights to a wallet or account. In tandem with these features, the platform will now be able to take advantage of Hypersign’s Cross-chain DID Infrastructure. This will allow it to implement enterprise-grade access management tools and features for its users. While existing applications use third-parties services like OTP-based authentication or social logins such as Facebook or Google, Hypersign takes a different approach to user-level security, authentication, verification and authorization of user data. It relies on a combination of decentralized identifiers and public key infrastructure to improve upon these models. By working together, Unido and Hypersign could provide a viable solution to the security and custody issues that hinder the decentralized finance markets. The partnership could be the missing piece for greater enterprise adoption, providing the assurances that some conservative investors need before joining the space. See more from Benzinga • Click here for options trades from Benzinga • Bittrex Global Lists New Solutions for Gaming, Scalability, and Adaptive Currencies • A Big Step For BitMart & Uberstate © 2021 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. \|\| Bitcoin, ethereum see strong inflows in latest week - CoinShares data: By Gertrude Chavez-Dreyfuss NEW YORK (Reuters) - Bitcoin and ethereum, the two largest cryptocurrencies in terms of market capitalization, posted strong inflows last week that saw investments in the sector hit $489 million, the largest since February, CoinShares weekly data showed on Tuesday. Bitcoin received the lion's share of investor inflows last week of $441.7 million, with $4.2 billion so far this year. The world's largest digital currency posted record weekly outflows the previous week. Ethereum posted inflows of $30.2 million last week and an all-time peak of $13.9 billion in 2021, data showed. Total inflows so far this year were $5.45 billion. On Tuesday, ethereum hit yet another record high of $3,530, pushing its market cap at $393 billion. But it was last down 2.4% at $3,353. "The biggest reason for the surge (in ethereum) appears to be the growing number of developers building DeFi applications on the platform, but also the growing institutional interest," said Petr Kozyakov, co-founder and chief executive officer at global payment network Mercuryo. DeFi are crypto platforms that facilitate lending outside of traditional banking institutions. Other cryptocurrencies such as Polkadot, Binance and Cardano saw minor inflows. Grayscale remains the largest digital currency manager, with $49.3 billion as of April 30, from $41 billion the previous week. CoinShares, the second biggest and the largest European digital asset manager, oversees about $5.8 billion as of last week, from $5.2 billion on April 23. Total assets under management so far this year hit $64.7 billion. In 2020, the AUM was $19 billion and $2.57 billion in 2019. (Reporting by Gertrude Chavez-Dreyfuss; Editing by Cynthia Osterman) \|\| Bitcoin, ethereum see strong inflows in latest week - CoinShares data: By Gertrude Chavez-Dreyfuss NEW YORK (Reuters) - Bitcoin and ethereum, the two largest cryptocurrencies in terms of market capitalization, posted strong inflows last week that saw investments in the sector hit $489 million, the largest since February, CoinShares weekly data showed on Tuesday. Bitcoin received the lion's share of investor inflows last week of $441.7 million, with $4.2 billion so far this year. The world's largest digital currency posted record weekly outflows the previous week. Ethereum posted inflows of $30.2 million last week and an all-time peak of $13.9 billion in 2021, data showed. Total inflows so far this year were $5.45 billion. On Tuesday, ethereum hit yet another record high of $3,530, pushing its market cap at $393 billion. But it was last down 2.4% at $3,353. "The biggest reason for the surge (in ethereum) appears to be the growing number of developers building DeFi applications on the platform, but also the growing institutional interest," said Petr Kozyakov, co-founder and chief executive officer at global payment network Mercuryo. DeFi are crypto platforms that facilitate lending outside of traditional banking institutions. Other cryptocurrencies such as Polkadot, Binance and Cardano saw minor inflows. Grayscale remains the largest digital currency manager, with $49.3 billion as of April 30, from $41 billion the previous week. CoinShares, the second biggest and the largest European digital asset manager, oversees about $5.8 billion as of last week, from $5.2 billion on April 23. Total assets under management so far this year hit $64.7 billion. In 2020, the AUM was $19 billion and $2.57 billion in 2019. (Reporting by Gertrude Chavez-Dreyfuss; Editing by Cynthia Osterman) \|\| Bitcoin, ethereum see strong inflows in latest week - CoinShares data: By Gertrude Chavez-Dreyfuss NEW YORK (Reuters) - Bitcoin and ethereum, the two largest cryptocurrencies in terms of market capitalization, posted strong inflows last week that saw investments in the sector hit $489 million, the largest since February, CoinShares weekly data showed on Tuesday. Bitcoin received the lion's share of investor inflows last week of $441.7 million, with $4.2 billion so far this year. The world's largest digital currency posted record weekly outflows the previous week. Ethereum posted inflows of $30.2 million last week and an all-time peak of $13.9 billion in 2021, data showed. Total inflows so far this year were $5.45 billion. On Tuesday, ethereum hit yet another record high of $3,530, pushing its market cap at $393 billion. But it was last down 2.4% at $3,353. "The biggest reason for the surge (in ethereum) appears to be the growing number of developers building DeFi applications on the platform, but also the growing institutional interest," said Petr Kozyakov, co-founder and chief executive officer at global payment network Mercuryo. DeFi are crypto platforms that facilitate lending outside of traditional banking institutions. Other cryptocurrencies such as Polkadot, Binance and Cardano saw minor inflows. Grayscale remains the largest digital currency manager, with $49.3 billion as of April 30, from $41 billion the previous week. CoinShares, the second biggest and the largest European digital asset manager, oversees about $5.8 billion as of last week, from $5.2 billion on April 23. Total assets under management so far this year hit $64.7 billion. In 2020, the AUM was $19 billion and $2.57 billion in 2019. (Reporting by Gertrude Chavez-Dreyfuss; Editing by Cynthia Osterman) \|\| Bitcoin, ethereum see strong inflows in latest week - CoinShares data: By Gertrude Chavez-Dreyfuss NEW YORK (Reuters) - Bitcoin and ethereum, the two largest cryptocurrencies in terms of market capitalization, posted strong inflows last week that saw investments in the sector hit $489 million, the largest since February, CoinShares weekly data showed on Tuesday. Bitcoin received the lion's share of investor inflows last week of $441.7 million, with $4.2 billion so far this year. The world's largest digital currency posted record weekly outflows the previous week. Ethereum posted inflows of $30.2 million last week and an all-time peak of $13.9 billion in 2021, data showed. Total inflows so far this year were $5.45 billion. On Tuesday, ethereum hit yet another record high of $3,530, pushing its market cap at $393 billion. But it was last down 2.4% at $3,353. "The biggest reason for the surge (in ethereum) appears to be the growing number of developers building DeFi applications on the platform, but also the growing institutional interest," said Petr Kozyakov, co-founder and chief executive officer at global payment network Mercuryo. DeFi are crypto platforms that facilitate lending outside of traditional banking institutions. Other cryptocurrencies such as Polkadot, Binance and Cardano saw minor inflows. Grayscale remains the largest digital currency manager, with $49.3 billion as of April 30, from $41 billion the previous week. CoinShares, the second biggest and the largest European digital asset manager, oversees about $5.8 billion as of last week, from $5.2 billion on April 23. Total assets under management so far this year hit $64.7 billion. In 2020, the AUM was $19 billion and $2.57 billion in 2019. (Reporting by Gertrude Chavez-Dreyfuss; Editing by Cynthia Osterman) \|\| Bitcoin, ethereum see strong inflows in latest week - CoinShares data: By Gertrude Chavez-Dreyfuss NEW YORK (Reuters) - Bitcoin and ethereum, the two largest cryptocurrencies in terms of market capitalization, posted strong inflows last week that saw investments in the sector hit $489 million, the largest since February, CoinShares weekly data showed on Tuesday. Bitcoin received the lion's share of investor inflows last week of $441.7 million, with $4.2 billion so far this year. The world's largest digital currency posted record weekly outflows the previous week. Ethereum posted inflows of $30.2 million last week and an all-time peak of $13.9 billion in 2021, data showed. Total inflows so far this year were $5.45 billion. On Tuesday, ethereum hit yet another record high of $3,530, pushing its market cap at $393 billion. But it was last down 2.4% at $3,353. "The biggest reason for the surge (in ethereum) appears to be the growing number of developers building DeFi applications on the platform, but also the growing institutional interest," said Petr Kozyakov, co-founder and chief executive officer at global payment network Mercuryo. DeFi are crypto platforms that facilitate lending outside of traditional banking institutions. Other cryptocurrencies such as Polkadot, Binance and Cardano saw minor inflows. Grayscale remains the largest digital currency manager, with $49.3 billion as of April 30, from $41 billion the previous week. CoinShares, the second biggest and the largest European digital asset manager, oversees about $5.8 billion as of last week, from $5.2 billion on April 23. Total assets under management so far this year hit $64.7 billion. In 2020, the AUM was $19 billion and $2.57 billion in 2019. (Reporting by Gertrude Chavez-Dreyfuss; Editing by Cynthia Osterman) \|\| Bitcoin, ethereum see strong inflows in latest week - CoinShares data: By Gertrude Chavez-Dreyfuss NEW YORK (Reuters) - Bitcoin and ethereum, the two largest cryptocurrencies in terms of market capitalization, posted strong inflows last week that saw investments in the sector hit $489 million, the largest since February, CoinShares weekly data showed on Tuesday. Bitcoin received the lion's share of investor inflows last week of $441.7 million, with $4.2 billion so far this year. The world's largest digital currency posted record weekly outflows the previous week. Ethereum posted inflows of $30.2 million last week and an all-time peak of $13.9 billion in 2021, data showed. Total inflows so far this year were $5.45 billion. On Tuesday, ethereum hit yet another record high of $3,530, pushing its market cap at $393 billion. But it was last down 2.4% at $3,353. "The biggest reason for the surge (in ethereum) appears to be the growing number of developers building DeFi applications on the platform, but also the growing institutional interest," said Petr Kozyakov, co-founder and chief executive officer at global payment network Mercuryo. DeFi are crypto platforms that facilitate lending outside of traditional banking institutions. Other cryptocurrencies such as Polkadot, Binance and Cardano saw minor inflows. Grayscale remains the largest digital currency manager, with $49.3 billion as of April 30, from $41 billion the previous week. CoinShares, the second biggest and the largest European digital asset manager, oversees about $5.8 billion as of last week, from $5.2 billion on April 23. Total assets under management so far this year hit $64.7 billion. In 2020, the AUM was $19 billion and $2.57 billion in 2019. (Reporting by Gertrude Chavez-Dreyfuss; Editing by Cynthia Osterman) \|\| A $1000 bet on Dogecoin to start 2021 now tops the average US income: It took Amazon 13 years to deliver a 10,000% return to investors. It has now taken Dogecoin five months. The cryptocurrency ( DOGE-USD ) hit a new all-time high of $0.60 on Tuesday, pushing Dogecoin's market cap north of $70 billion to become the fourth-most valued coin, according to Yahoo Finance's data partner CoinMarketCap. That's now larger than the market cap of Moderna , one of the companies shipping COVID-19 vaccines to save the world from the pandemic. That means a $1,000 bet placed on Doge to begin the year, when its price was around half of one penny, would now be worth more than $100,000. In fact, at the $0.56 price that Dogecoin seemed to stabilize around on Tuesday, the position would be worth $103,703. Considering the U.S. Census Bureau last reported the average American household income at $69,000, that same $1,000 bet on Dogecoin could have delivered about 1.5-times the average household income in just five months. If you invested $1000 into the following on January 1, 2021, you'd have this much as of May 4: - Tesla: $907 - GameStop: $8,990 - Bitcoin $1,946 - #Dogecoin : $103,703!!! pic.twitter.com/wnt01SYbq9 — Zack Guzman (@zGuz) May 4, 2021 It's a staggering way to think about the more than 10,000% rally the cryptocurrency, which was founded as a joke, has been able to put together this year. Dozens of tweets from Tesla CEO Elon Musk brought attention to it earlier this year and last . And then Dallas Mavericks owner and Shark Tank star Mark Cuban emerged as another advocate, recently saying it was "better than a lottery ticket" on "The Ellen Degeneres Show." To be fair, the story isn't all hype. The Oakland A's joined the Dallas Mavericks this week in becoming another sports franchise to accept Dogecoin as a form of payment. The team's president Dave Kaval took to Twitter to confirm that the A's processed "the first Dogecoin transaction" in Major League Baseball history on Monday. Last month, the team also processed its first bitcoin transaction when it sold a suite for a single game. We just processed first Dogecoin transaction in @mlb history! #DogecoinToTheMoon @Athletics https://t.co/tgElcRrExf — Dave Kaval (@DaveKaval) May 3, 2021 Yet, even with the narrative of added acceptance and the allure of a Musk appearance on Saturday Night Live that could feature another high-profile Dogecoin mention, it's hard to forecast how the cryptocurrency can keep up its performance. Story continues Let's not forget Doge's genesis story is not so far detached from SNL itself. It was formed to poke fun at the explosion of crypto projects with an obvious joke. The cryptocurrency also technically has no cap on the supply of tokens in circulation. That by itself might give any crypto investor pause, given "unlimited money printing" by the Federal Reserve is often a main reason bitcoin fans cite for choosing it over the dollar. But Doge, which also offers cheaper transaction fees and quicker settlement times than most other cryptocurrencies, has had something else going for it long before Musk jumped on board. For years the cryptocurrency has boasted a wide and welcoming community. The r/Dogecoin Reddit group now boasts more than 1.6 million members, up from 1.3 million just three weeks ago. As Will Dunn at The New Statesman points out, that growing network of people who are "in" on the joke could very well keep the explosion going. "The South Sea Bubble in 1720, Railway Mania in 1847, and the dot com boom in the early 2000s all collapsed because the real business activities that were being speculated on were oversold," he writes. "But many of Dogecoin’s investors appear to be well aware that it is not going to become a medium of exchange or a long-term store of value. They know the emperor has no clothes and they still want a selfie with him." It's reminiscent of another quote popularized by a legendary investor who coincidentally wants nothing to do with cryptocurrencies, Warren Buffett. As he said, "You only learn who has been swimming naked when the tide goes out." For Doge investors, maybe they are happy to be naked all long. Zack Guzman is an anchor for Yahoo Finance Live as well as a senior writer covering entrepreneurship, crypto, cannabis, startups, and breaking news at Yahoo Finance. Follow him on Twitter @zGuz . Read the latest financial and business news from Yahoo Finance Follow Yahoo Finance on Twitter , Facebook , Instagram , Flipboard , SmartNews , LinkedIn , YouTube , and reddit . Find live stock market quotes and the latest business and finance news For tutorials and information on investing and trading stocks, check out Cashay View comments \|\| Robinhood Makes $331 Million Off Customers’ Trading Activity – Is Warren Buffett Right That It’s Basically a Casino?: Platform trading app Robinhood, which continues to make headlines for everything from lawsuits to its upcoming initial public offering, and more recently, by being bashed by Berkshire Hathaway’s Charlie Munger, has been doing pretty well, partly thanks to the market frenzy. According to a report by Barron’s, citing a Securities and Exchange Commission filing, the company made $331 million from customers’ trading activity in the first quarter. See: Robinhood Files for IPO Find: Where Do Americans Get Their Money Advice? Top Podcasts and Radio Shows This is more than triple the $91 million earned in the first quarter of 2020 from the so-called payment for order flow, according to Barron’s. When its customers buy and sell stocks and options, Robinhood routes those orders to high-speed traders, such as Citadel Securities, which pay for the right to execute many of those trades. The process is called payment for order flow, The Wall Street Journal explains. This booming business might be good news for the company’s upcoming IPO, which has submitted a registration with the SEC to go public in March. In turn, it might be good news for investors looking for the next Coinbase blockbuster IPO. Barron’s reports that the recent filing shows that Robinhood “is on track to make well over $1 billion in revenue this year and perhaps more than $2 billion, should this level of activity hold up.” See: Pandemic Money Worries Increase Demand for Financial Advisors Find: Here’s a Bitcoin Timeline for Everything You Need to Know About the Cryptocurrency Last weekend at the Berkshire Hathaway annual shareholder meeting, CEO Warren Buffett said that Robinhood had “become a very significant part of the casino aspect, the casino group, that has joined into the stock market in the last year, year and a half.” Vice chairman Charlie Munger went further in his criticism of Robinhood, saying that it’s “God awful that something like that would draw investment from civilized men and decent citizens. It’s deeply wrong. We don’t want to make our money selling things that are bad for people,” Munger added. Story continues See: How COVID-19 Turned Day Trading into ‘Gen Investor’s’ Fun – and Lucrative – Hobby Find: Buffett Announces Who’ll Take Over Berkshire Hathaway After He’s Gone Robinhood replied swiftly in an emailed statement, which was followed yesterday by a blogpost stating that, “Two of the most iconic investors insulted a new generation this weekend. Why? Because we are doing things a new way.” The post adds, “If the last year has taught us anything, it is that people are tired of the Warren Buffetts and Charlie Mungers of the world acting like they are the only oracles of investing. And at Robinhood, we’re not going to sit back while they disparage everyday people for taking control of their financial lives. Robinhood has made investing simpler and more accessible to more people — and the public has responded. We are proud of that fact.” More From GOBankingRates Money’s Most Influential: Where Do Americans Get Their Financial Advice? Don’t Miss Out on Nominating Your Favorite Small Business To Be Featured on GOBankingRates — Ends May 31 ‘Rich Dad Poor Dad’ Author Robert Kiyosaki: You Should Never Say ‘I Can’t Afford That’ Everything You Need To Know About Taxes This Year This article originally appeared on GOBankingRates.com : Robinhood Makes $331 Million Off Customers’ Trading Activity – Is Warren Buffett Right That It’s Basically a Casino? \|\| Robinhood Makes $331 Million Off Customers’ Trading Activity – Is Warren Buffett Right That It’s Basically a Casino?: Platform trading app Robinhood, which continues to makeheadlines for everything from lawsuitsto its upcoming initial public offering, and more recently, by being bashed by Berkshire Hathaway’s Charlie Munger, has been doing pretty well, partly thanks to the market frenzy. According to a report by Barron’s, citing a Securities and Exchange Commission filing, the company made $331 million from customers’ trading activity in the first quarter. See:Robinhood Files for IPOFind:Where Do Americans Get Their Money Advice? Top Podcasts and Radio Shows This is more than triple the $91 million earned in the first quarter of 2020 from the so-called payment for order flow, according to Barron’s. When its customers buy and sell stocks and options, Robinhood routes those orders to high-speed traders, such as Citadel Securities, which pay for the right to execute many of those trades. The process is called payment for order flow, The Wall Street Journal explains. This booming business might be good news for the company’s upcoming IPO, which has submitted a registration with the SEC to go public in March. In turn, it might be good news for investors looking for the next Coinbase blockbuster IPO. Barron’s reports that the recent filing shows that Robinhood “is on track to make well over $1 billion in revenue this year and perhaps more than $2 billion, should this level of activity hold up.” See:Pandemic Money Worries Increase Demand for Financial AdvisorsFind:Here’s a Bitcoin Timeline for Everything You Need to Know About the Cryptocurrency Last weekend at the Berkshire Hathaway annual shareholder meeting, CEO Warren Buffett said that Robinhood had “become a very significant part of the casino aspect, the casino group, that has joined into the stock market in the last year, year and a half.” Vice chairman Charlie Munger went further in his criticism of Robinhood, saying that it’s “God awful that something like that would draw investment from civilized men and decent citizens. It’s deeply wrong. We don’t want to make our money selling things that are bad for people,” Munger added. See:How COVID-19 Turned Day Trading into ‘Gen Investor’s’ Fun – and Lucrative – HobbyFind:Buffett Announces Who’ll Take Over Berkshire Hathaway After He’s Gone Robinhood replied swiftly in an emailed statement, which was followed yesterday by a blogpost stating that, “Two of the most iconic investors insulted a new generation this weekend. Why? Because we are doing things a new way.” The post adds, “If the last year has taught us anything, it is that people are tired of the Warren Buffetts and Charlie Mungers of the world acting like they are the only oracles of investing. And at Robinhood, we’re not going to sit back while they disparage everyday people for taking control of their financial lives.Robinhood has made investing simpler and more accessible to more people — and the public has responded. We are proud of that fact.” More From GOBankingRates • Money’s Most Influential: Where Do Americans Get Their Financial Advice? • Don’t Miss Out on Nominating Your Favorite Small Business To Be Featured on GOBankingRates — Ends May 31 • ‘Rich Dad Poor Dad’ Author Robert Kiyosaki: You Should Never Say ‘I Can’t Afford That’ • Everything You Need To Know About Taxes This Year This article originally appeared onGOBankingRates.com:Robinhood Makes $331 Million Off Customers’ Trading Activity – Is Warren Buffett Right That It’s Basically a Casino? \|\| How to Use Cold Storage for Bitcoin: Cryptocurrency such asBitcoinrelies on the use of both public and private keys, the first of which allows the receipt of cryptocurrency transactions and the second of which allows the owner to prove and unlock the cryptocurrency received through that transaction. Cold storage allows this information to be stored in physical forms that are offline in order to reduce the likelihood that they will be electronically intercepted or hacked. Whether you’re an expert investor or new to the world of cryptocurrency, you could likely benefit from expert professional help.Consider speaking to a financial advisorto better understand how to move forward with an investing strategy. What Is Cold Storage for Bitcoin? Cold storage refers to the various non-digital, physical methods of holding Bitcoin cryptocurrency tokens off of the internet. Even though cryptocurrency is digital currency, users can still go through these physical methods to store the important information they need to access and trade the coins that they do own. In the eyes of many experts, cold storage methods (which includes cold wallets) are preferable to hot storage methods (which include hot wallets). This is because hot wallets, being digital storage options, are more susceptible to being hacked. Hot wallets are digital cryptocurrency wallets that are available in online and desktop forms, can hold anycryptocurrencies(including less mainstream types of coins) and are, for the most part, free. By contrast, cold wallets are actually physical devices. They help you keep yourBitcoincompletely offline. Types of Cold Storage There are various kinds of cold wallets and it’s important to remember that not all wallets support all types of cryptocurrencies. Paper wallets involve the use of a computer and printer entirely disconnected from the internet. Users will download a paper wallet generator before disconnecting, then generate the bitcoin address / public key(s) and private key(s). The next steps are to print the paper wallet(s), delete downloaded files and finallysend cryptocurrencyto each wallet. Hardware wallets store the private key(s) not on paper but on a secure hardware device. These devices sometimes look like small USB devices. Users connect them to a personal computer and download a program or visit a website that the hardware wallets can interact with. Only transaction data leaves the wallet, not the private key itself. Deep cold storage takes the idea of cold storage one level further, and can be useful for assets that someone plans on leaving untouched for a long period of time or even indefinitely. They require a recovery phrase to finally access. Users can store the recovery phrase on paper and keep it in a safe place. Pros and Cons of Cold Storage While you can actually have some cryptocurrency in cold wallet storage and some in hot wallet storage to see how each works for yourself, it might be useful to first go through the benefits and drawbacks of cold storage in particular. Pros: • Cold storage is portable.You can have your cryptocurrency with you wherever you go. • Devices are small and compact.Alongside being portable, these physical storage forms can be very discrete, so that compromising security is not an issue. • You get an added layer of protection from hackers.Because hot wallets are digital and online, they’re vulnerable to hacker attacks and attempts at scamming. Cold storage options prevent this issue. • Potential to complete transaction with trusted traders.As a result, in-person transactions are possible, thus allowing users to potentially be more certain that they are dealing with people they trust. Cons: • You’re not immune to loss or damage.Because they’re physical, cold storage hardware or paper documents can still be lost, stolen or broken in person somehow. • Cryptocurrency limitations.A smaller variety of cryptocurrencies can be stored on cold storage forms. • Can be on the expensive side.For the most part, hot wallet / storage options are free to use. Does Cold Storage Cost Anything? Cold storage options range from $50 to $200. Some are more advanced and some are simple storage devices. Some specific brands for cold storage options are Trezor, Ledger Nano S, KeepKey and CoolWallet S. The Bottom Line If youown Bitcoin, be sure to consider the many options available for you to store it and your private keys. While hot wallets are digital forms of storage, cold wallets may provide an added benefits even if they’re more old-fashioned. You can use a cold storage wallet to store this information offline, which keeps it safe from hacking and other web attacks. Tips for Cryptocurrency Investing • Cryptocurrency investments are very attractive to new and experienced investors alike, but they’re…well, cryptic. That’s why speaking to a financial advisor can help you gain further insight. Luckily,finding a financial advisordoesn’t have to be hard.SmartAsset’s free toolmatches you with up to three financial advisors in your area in just five minutes.Get started now. • Always do a little bit of number crunching on your own first. SmartAsset’sfree investment calculatorcan help you determine what kinds of returns you need to reach your goals. Photo credit: ©iStock.com/D-Keine, ©iStock.com/matejmo, ©iStock.com/alexsl The postHow to Use Cold Storage for Bitcoinappeared first onSmartAsset Blog. \|\| How to Use Cold Storage for Bitcoin: Image shows a brown wallet with the Bitcoin symbol stamped on it. If you own Bitcoin, you can use a cold storage wallet to store it offline, which keeps it safe from hacking and other web attacks. Cryptocurrency such as Bitcoin relies on the use of both public and private keys, the first of which allows the receipt of cryptocurrency transactions and the second of which allows the owner to prove and unlock the cryptocurrency received through that transaction. Cold storage allows this information to be stored in physical forms that are offline in order to reduce the likelihood that they will be electronically intercepted or hacked. Whether you’re an expert investor or new to the world of cryptocurrency, you could likely benefit from expert professional help. Consider speaking to a financial advisor to better understand how to move forward with an investing strategy. What Is Cold Storage for Bitcoin? Cold storage refers to the various non-digital, physical methods of holding Bitcoin cryptocurrency tokens off of the internet. Even though cryptocurrency is digital currency, users can still go through these physical methods to store the important information they need to access and trade the coins that they do own. In the eyes of many experts, cold storage methods (which includes cold wallets) are preferable to hot storage methods (which include hot wallets). This is because hot wallets, being digital storage options, are more susceptible to being hacked. Hot wallets are digital cryptocurrency wallets that are available in online and desktop forms, can hold any cryptocurrencies (including less mainstream types of coins) and are, for the most part, free. By contrast, cold wallets are actually physical devices. They help you keep your Bitcoin completely offline. Types of Cold Storage Image shows a Bitcoin gold coin with performance graphs in the background. If you own Bitcoin, you can use a cold storage wallet to store it offline, which keeps it safe from hacking and other web attacks. There are various kinds of cold wallets and it’s important to remember that not all wallets support all types of cryptocurrencies. Paper wallets involve the use of a computer and printer entirely disconnected from the internet. Users will download a paper wallet generator before disconnecting, then generate the bitcoin address / public key(s) and private key(s). The next steps are to print the paper wallet(s), delete downloaded files and finally send cryptocurrency to each wallet. Story continues Hardware wallets store the private key(s) not on paper but on a secure hardware device. These devices sometimes look like small USB devices. Users connect them to a personal computer and download a program or visit a website that the hardware wallets can interact with. Only transaction data leaves the wallet, not the private key itself. Deep cold storage takes the idea of cold storage one level further, and can be useful for assets that someone plans on leaving untouched for a long period of time or even indefinitely. They require a recovery phrase to finally access. Users can store the recovery phrase on paper and keep it in a safe place. Pros and Cons of Cold Storage While you can actually have some cryptocurrency in cold wallet storage and some in hot wallet storage to see how each works for yourself, it might be useful to first go through the benefits and drawbacks of cold storage in particular. Pros: Cold storage is portable. You can have your cryptocurrency with you wherever you go. Devices are small and compact. Alongside being portable, these physical storage forms can be very discrete, so that compromising security is not an issue. You get an added layer of protection from hackers. Because hot wallets are digital and online, they’re vulnerable to hacker attacks and attempts at scamming. Cold storage options prevent this issue. Potential to complete transaction with trusted traders. As a result, in-person transactions are possible, thus allowing users to potentially be more certain that they are dealing with people they trust. Cons: You’re not immune to loss or damage. Because they’re physical, cold storage hardware or paper documents can still be lost, stolen or broken in person somehow. Cryptocurrency limitations. A smaller variety of cryptocurrencies can be stored on cold storage forms. Can be on the expensive side. For the most part, hot wallet / storage options are free to use. Does Cold Storage Cost Anything? Cold storage options range from $50 to $200. Some are more advanced and some are simple storage devices. Some specific brands for cold storage options are Trezor, Ledger Nano S, KeepKey and CoolWallet S. The Bottom Line Image shows a Bitcoin logo connected to other identical logos in a conceptual blockchain network. If you own Bitcoin, you can use a cold storage wallet to store it offline, which keeps it safe from hacking and other web attacks. If you own Bitcoin , be sure to consider the many options available for you to store it and your private keys. While hot wallets are digital forms of storage, cold wallets may provide an added benefits even if they’re more old-fashioned. You can use a cold storage wallet to store this information offline, which keeps it safe from hacking and other web attacks. Tips for Cryptocurrency Investing Cryptocurrency investments are very attractive to new and experienced investors alike, but they’re…well, cryptic. That’s why speaking to a financial advisor can help you gain further insight. Luckily, finding a financial advisor doesn’t have to be hard. SmartAsset’s free tool matches you with up to three financial advisors in your area in just five minutes. Get started now . Always do a little bit of number crunching on your own first. SmartAsset’s free investment calculator can help you determine what kinds of returns you need to reach your goals. Photo credit: ©iStock.com/D-Keine, ©iStock.com/matejmo, ©iStock.com/alexsl The post How to Use Cold Storage for Bitcoin appeared first on SmartAsset Blog . \|\| How to Use Cold Storage for Bitcoin: Cryptocurrency such asBitcoinrelies on the use of both public and private keys, the first of which allows the receipt of cryptocurrency transactions and the second of which allows the owner to prove and unlock the cryptocurrency received through that transaction. Cold storage allows this information to be stored in physical forms that are offline in order to reduce the likelihood that they will be electronically intercepted or hacked. Whether you’re an expert investor or new to the world of cryptocurrency, you could likely benefit from expert professional help.Consider speaking to a financial advisorto better understand how to move forward with an investing strategy. What Is Cold Storage for Bitcoin? Cold storage refers to the various non-digital, physical methods of holding Bitcoin cryptocurrency tokens off of the internet. Even though cryptocurrency is digital currency, users can still go through these physical methods to store the important information they need to access and trade the coins that they do own. In the eyes of many experts, cold storage methods (which includes cold wallets) are preferable to hot storage methods (which include hot wallets). This is because hot wallets, being digital storage options, are more susceptible to being hacked. Hot wallets are digital cryptocurrency wallets that are available in online and desktop forms, can hold anycryptocurrencies(including less mainstream types of coins) and are, for the most part, free. By contrast, cold wallets are actually physical devices. They help you keep yourBitcoincompletely offline. Types of Cold Storage There are various kinds of cold wallets and it’s important to remember that not all wallets support all types of cryptocurrencies. Paper wallets involve the use of a computer and printer entirely disconnected from the internet. Users will download a paper wallet generator before disconnecting, then generate the bitcoin address / public key(s) and private key(s). The next steps are to print the paper wallet(s), delete downloaded files and finallysend cryptocurrencyto each wallet. Hardware wallets store the private key(s) not on paper but on a secure hardware device. These devices sometimes look like small USB devices. Users connect them to a personal computer and download a program or visit a website that the hardware wallets can interact with. Only transaction data leaves the wallet, not the private key itself. Deep cold storage takes the idea of cold storage one level further, and can be useful for assets that someone plans on leaving untouched for a long period of time or even indefinitely. They require a recovery phrase to finally access. Users can store the recovery phrase on paper and keep it in a safe place. Pros and Cons of Cold Storage While you can actually have some cryptocurrency in cold wallet storage and some in hot wallet storage to see how each works for yourself, it might be useful to first go through the benefits and drawbacks of cold storage in particular. Pros: • Cold storage is portable.You can have your cryptocurrency with you wherever you go. • Devices are small and compact.Alongside being portable, these physical storage forms can be very discrete, so that compromising security is not an issue. • You get an added layer of protection from hackers.Because hot wallets are digital and online, they’re vulnerable to hacker attacks and attempts at scamming. Cold storage options prevent this issue. • Potential to complete transaction with trusted traders.As a result, in-person transactions are possible, thus allowing users to potentially be more certain that they are dealing with people they trust. Cons: • You’re not immune to loss or damage.Because they’re physical, cold storage hardware or paper documents can still be lost, stolen or broken in person somehow. • Cryptocurrency limitations.A smaller variety of cryptocurrencies can be stored on cold storage forms. • Can be on the expensive side.For the most part, hot wallet / storage options are free to use. Does Cold Storage Cost Anything? Cold storage options range from $50 to $200. Some are more advanced and some are simple storage devices. Some specific brands for cold storage options are Trezor, Ledger Nano S, KeepKey and CoolWallet S. The Bottom Line If youown Bitcoin, be sure to consider the many options available for you to store it and your private keys. While hot wallets are digital forms of storage, cold wallets may provide an added benefits even if they’re more old-fashioned. You can use a cold storage wallet to store this information offline, which keeps it safe from hacking and other web attacks. Tips for Cryptocurrency Investing • Cryptocurrency investments are very attractive to new and experienced investors alike, but they’re…well, cryptic. That’s why speaking to a financial advisor can help you gain further insight. Luckily,finding a financial advisordoesn’t have to be hard.SmartAsset’s free toolmatches you with up to three financial advisors in your area in just five minutes.Get started now. • Always do a little bit of number crunching on your own first. SmartAsset’sfree investment calculatorcan help you determine what kinds of returns you need to reach your goals. Photo credit: ©iStock.com/D-Keine, ©iStock.com/matejmo, ©iStock.com/alexsl The postHow to Use Cold Storage for Bitcoinappeared first onSmartAsset Blog. \|\| How to Trade Bitcoin Futures: If you’re an investor who is otherwise familiar with trading strategies involving futures and options, you may have wondered whether futures trading applies to cryptocurrency too. The good news is that Bitcoin futures contracts are indeed available for investors, allowing them to speculate on and take advantage of the currency’s future price.Whether or not you’re new to investing in more traditional forms or in cryptocurrency, you may benefit from some expert professional help.Consider speaking to a financial advisorto better understand how to move forward with an investing strategy. What Are Bitcoin Futures? Afuturescontract is an agreement to buy or sell something at a future date for an agreed-upon price. Bitcoin future contracts have become relatively popular in recent years, but managing futures is them can be tricky because Bitcoin itself is a very volatile currency. Bitcoin futures, therefore, allow investors to speculate on Bitcoin’s future price. Furthermore, investors can effectively deal Bitcoin without holding the currency in the present moment. The idea of tradingBitcoinis to have the buyer lock in a lower price or the seller lock in a higher price in the future. This means that no bitcoins are actually involved in the transaction process. This is because the futures are contracts that settle in cash – the buyer pays the value of the bitcoin at the specified date and the seller receives this value in cash. Bitcoin itself does not even change hands. Bitcoin Futures Exchanges The Chicago Mercantile Exchange (CME) offers monthly contracts for cash settlement, meaning that investors take cash instead of Bitcoin upon settlement of the contract. CME opened its platform in December 2017. Along with Crypto Facilities Ltd. (CF), it created the Bitcoin Real Time Index (BRTI) and a reference rate (both monitored by a commission) to help set professional standards for trading. CME’s bitcoin futures contract, BTC, is a USD cash settled contract, based on a reference rate provided by the CME. This reference rate is called the bitcoin reference rate (BRR) and serves as a once-a-day reference rate of the USD price of one bitcoin. Investors can trade on the exchange from Sunday through Friday, 5pm to 4pm CST. A single bitcoin futures contract has a value of five times the BRR index. This means that one tick move of the bitcoin future is equal to $25. Futures expire on the last Friday of the month, and investors can choose to settle the cash at the expiry date or roll forward to extend the contract. The Commodity Futures Trading Commission (CFTC) regulates the trading and clearing of Bitcoin futures. The CFTC is the only regulatory agency that has jurisdiction over U.S. Bitcoin futures markets. Investors should note, however, that regulations may differ by country. Other exchanges are Bakkt and Intercontinental Exchange, which offer physical delivery of monthly and even daily Bitcoin futures contracts. Physical delivery means that an options or futures contract requires the actual asset to be delivered on the specified date, instead of trading it for a different asset. Benefits and Drawbacks of Trading Bitcoin Futures Since Bitcoin futures are different from Bitcoin itself, and Bitcoin itself can be transacted 24 hours a day, this might raise the question of the necessity of even considering futures. Why not justinvest in Bitcoinonly? Since Bitcoin futures are traded on an exchange, the one-hour period of inactivity indicates a clear open and close trade time. Bitcoin futures contracts are alsoblock tradeeligible, meaning that brokers can trade considerably large amounts of them.Optionson futures (having the option to buy or sell at the pre-set date, not necessarily obligated to buy vs. sell) are available as well, allowing investors another possibility for how to manage their risk or speculate on the price. Drawbacks of Bitcoin futures include the fact that they don’t trade in the same way that stocks do, so investors who are familiar with stocks will need to learn the ropes. In general, trading futures requires skilled expertise. As mentioned before, the process involves a lot of speculation, so it may not necessarily for beginner investors to participate in. Do I Need a Digital Wallet or a Broker to Trade Bitcoin Futures? You do not need a digital wallet to trade Bitcoin futures because transactions are settled financially. If youtrade Bitcoin, though, it could be a good idea to have a wallet so that you don’t have all your coins on an exchange – thereby lessening your susceptibility to hacking. To take advantage of Bitcoin futures, you must open an account with a registered broker. The broker will maintain account and guarantee trades. Brokerage firms for futures are known as either a futures commission merchant (FCM) or introducing broker (IB). Specific brokers include FOREX, TD Ameritrade andInteractive Brokers. Some of them even provide a demo account and trading simulators so that investors can practice without actually committing / investing any funds yet. The strategies that you use, of course, will depend on your personal financial situation and goals. Bottom Line Overall, investing in Bitcoin futures can be a useful way to get in on Bitcoin without having to buy and hold tokens directly. Usually, however, futures trading is not necessarily for beginners and can come with a lot of risk. Bitcoin in and of itself – andcryptocurrencymore generally – can be a risky asset, too. It’s important to do your research before dipping your toes in so that you can find a broker, set up a strategy and even connect with aprofessional advisorwho can work with you. Tips for Investors • Cryptocurrency investments are very attractive to new and experienced investors alike, but they’re…well, cryptic. That’s why speaking to a financial advisor can help you gain further insight. Luckily,finding a financial advisordoesn’t have to be hard.SmartAsset’s free toolmatches you with up to three financial advisors in your area in just five minutes.Get started now. • Always do a little bit of number crunching on your own first. SmartAsset’sfree investment calculatorcan help you determine what kinds of returns you need to reach your goals. • Tax code is another part of finance that can become mysterious and cryptic. Use SmartAsset’scapital gains tax calculatorto figure out how to minimize your taxes. Photo credit: ©iStock.com/sittipong phokawattana, ©iStock.com/SARINYAPINNGAM, ©iStock.com/guvendemir The postHow to Trade Bitcoin Futuresappeared first onSmartAsset Blog. \|\| How to Trade Bitcoin Futures: If you’re an investor who is otherwise familiar with trading strategies involving futures and options, you may have wondered whether futures trading applies to cryptocurrency too. The good news is that Bitcoin futures contracts are indeed available for investors, allowing them to speculate on and take advantage of the currency’s future price.Whether or not you’re new to investing in more traditional forms or in cryptocurrency, you may benefit from some expert professional help.Consider speaking to a financial advisorto better understand how to move forward with an investing strategy. What Are Bitcoin Futures? Afuturescontract is an agreement to buy or sell something at a future date for an agreed-upon price. Bitcoin future contracts have become relatively popular in recent years, but managing futures is them can be tricky because Bitcoin itself is a very volatile currency. Bitcoin futures, therefore, allow investors to speculate on Bitcoin’s future price. Furthermore, investors can effectively deal Bitcoin without holding the currency in the present moment. The idea of tradingBitcoinis to have the buyer lock in a lower price or the seller lock in a higher price in the future. This means that no bitcoins are actually involved in the transaction process. This is because the futures are contracts that settle in cash – the buyer pays the value of the bitcoin at the specified date and the seller receives this value in cash. Bitcoin itself does not even change hands. Bitcoin Futures Exchanges The Chicago Mercantile Exchange (CME) offers monthly contracts for cash settlement, meaning that investors take cash instead of Bitcoin upon settlement of the contract. CME opened its platform in December 2017. Along with Crypto Facilities Ltd. (CF), it created the Bitcoin Real Time Index (BRTI) and a reference rate (both monitored by a commission) to help set professional standards for trading. CME’s bitcoin futures contract, BTC, is a USD cash settled contract, based on a reference rate provided by the CME. This reference rate is called the bitcoin reference rate (BRR) and serves as a once-a-day reference rate of the USD price of one bitcoin. Investors can trade on the exchange from Sunday through Friday, 5pm to 4pm CST. A single bitcoin futures contract has a value of five times the BRR index. This means that one tick move of the bitcoin future is equal to $25. Futures expire on the last Friday of the month, and investors can choose to settle the cash at the expiry date or roll forward to extend the contract. The Commodity Futures Trading Commission (CFTC) regulates the trading and clearing of Bitcoin futures. The CFTC is the only regulatory agency that has jurisdiction over U.S. Bitcoin futures markets. Investors should note, however, that regulations may differ by country. Other exchanges are Bakkt and Intercontinental Exchange, which offer physical delivery of monthly and even daily Bitcoin futures contracts. Physical delivery means that an options or futures contract requires the actual asset to be delivered on the specified date, instead of trading it for a different asset. Benefits and Drawbacks of Trading Bitcoin Futures Since Bitcoin futures are different from Bitcoin itself, and Bitcoin itself can be transacted 24 hours a day, this might raise the question of the necessity of even considering futures. Why not justinvest in Bitcoinonly? Since Bitcoin futures are traded on an exchange, the one-hour period of inactivity indicates a clear open and close trade time. Bitcoin futures contracts are alsoblock tradeeligible, meaning that brokers can trade considerably large amounts of them.Optionson futures (having the option to buy or sell at the pre-set date, not necessarily obligated to buy vs. sell) are available as well, allowing investors another possibility for how to manage their risk or speculate on the price. Drawbacks of Bitcoin futures include the fact that they don’t trade in the same way that stocks do, so investors who are familiar with stocks will need to learn the ropes. In general, trading futures requires skilled expertise. As mentioned before, the process involves a lot of speculation, so it may not necessarily for beginner investors to participate in. Do I Need a Digital Wallet or a Broker to Trade Bitcoin Futures? You do not need a digital wallet to trade Bitcoin futures because transactions are settled financially. If youtrade Bitcoin, though, it could be a good idea to have a wallet so that you don’t have all your coins on an exchange – thereby lessening your susceptibility to hacking. To take advantage of Bitcoin futures, you must open an account with a registered broker. The broker will maintain account and guarantee trades. Brokerage firms for futures are known as either a futures commission merchant (FCM) or introducing broker (IB). Specific brokers include FOREX, TD Ameritrade andInteractive Brokers. Some of them even provide a demo account and trading simulators so that investors can practice without actually committing / investing any funds yet. The strategies that you use, of course, will depend on your personal financial situation and goals. Bottom Line Overall, investing in Bitcoin futures can be a useful way to get in on Bitcoin without having to buy and hold tokens directly. Usually, however, futures trading is not necessarily for beginners and can come with a lot of risk. Bitcoin in and of itself – andcryptocurrencymore generally – can be a risky asset, too. It’s important to do your research before dipping your toes in so that you can find a broker, set up a strategy and even connect with aprofessional advisorwho can work with you. Tips for Investors • Cryptocurrency investments are very attractive to new and experienced investors alike, but they’re…well, cryptic. That’s why speaking to a financial advisor can help you gain further insight. Luckily,finding a financial advisordoesn’t have to be hard.SmartAsset’s free toolmatches you with up to three financial advisors in your area in just five minutes.Get started now. • Always do a little bit of number crunching on your own first. SmartAsset’sfree investment calculatorcan help you determine what kinds of returns you need to reach your goals. • Tax code is another part of finance that can become mysterious and cryptic. Use SmartAsset’scapital gains tax calculatorto figure out how to minimize your taxes. Photo credit: ©iStock.com/sittipong phokawattana, ©iStock.com/SARINYAPINNGAM, ©iStock.com/guvendemir The postHow to Trade Bitcoin Futuresappeared first onSmartAsset Blog. \|\| How to Trade Bitcoin Futures: Image shows a conceptual illustration of cryptocurrency with the Bitcoin logo in blue text and design. Bitcoins futures can be another possibility for cryptocurrency investors to consider. If youre an investor who is otherwise familiar with trading strategies involving futures and options, you may have wondered whether futures trading applies to cryptocurrency too. The good news is that Bitcoin futures contracts are indeed available for investors, allowing them to speculate on and take advantage of the currencys future price. Whether or not youre new to investing in more traditional forms or in cryptocurrency, you may benefit from some expert professional help. Consider speaking to a financial advisor to better understand how to move forward with an investing strategy. What Are Bitcoin Futures? A futures contract is an agreement to buy or sell something at a future date for an agreed-upon price. Bitcoin future contracts have become relatively popular in recent years, but managing futures is them can be tricky because Bitcoin itself is a very volatile currency. Bitcoin futures, therefore, allow investors to speculate on Bitcoins future price. Furthermore, investors can effectively deal Bitcoin without holding the currency in the present moment. The idea of trading Bitcoin is to have the buyer lock in a lower price or the seller lock in a higher price in the future. This means that no bitcoins are actually involved in the transaction process. This is because the futures are contracts that settle in cash the buyer pays the value of the bitcoin at the specified date and the seller receives this value in cash. Bitcoin itself does not even change hands. Bitcoin Futures Exchanges The Chicago Mercantile Exchange (CME) offers monthly contracts for cash settlement, meaning that investors take cash instead of Bitcoin upon settlement of the contract. CME opened its platform in December 2017. Along with Crypto Facilities Ltd. (CF), it created the Bitcoin Real Time Index (BRTI) and a reference rate (both monitored by a commission) to help set professional standards for trading. CMEs bitcoin futures contract, BTC, is a USD cash settled contract, based on a reference rate provided by the CME. This reference rate is called the bitcoin reference rate (BRR) and serves as a once-a-day reference rate of the USD price of one bitcoin. Story continues Investors can trade on the exchange from Sunday through Friday, 5pm to 4pm CST. A single bitcoin futures contract has a value of five times the BRR index. This means that one tick move of the bitcoin future is equal to $25. Futures expire on the last Friday of the month, and investors can choose to settle the cash at the expiry date or roll forward to extend the contract. The Commodity Futures Trading Commission (CFTC) regulates the trading and clearing of Bitcoin futures. The CFTC is the only regulatory agency that has jurisdiction over U.S. Bitcoin futures markets. Investors should note, however, that regulations may differ by country. Other exchanges are Bakkt and Intercontinental Exchange, which offer physical delivery of monthly and even daily Bitcoin futures contracts. Physical delivery means that an options or futures contract requires the actual asset to be delivered on the specified date, instead of trading it for a different asset. Benefits and Drawbacks of Trading Bitcoin Futures Image shows an investor speaking on the phone while pointing to a computer screen with data analysis on investments. Bitcoins futures can be another possibility for cryptocurrency investors to consider. Since Bitcoin futures are different from Bitcoin itself, and Bitcoin itself can be transacted 24 hours a day, this might raise the question of the necessity of even considering futures. Why not just invest in Bitcoin only? Since Bitcoin futures are traded on an exchange, the one-hour period of inactivity indicates a clear open and close trade time. Bitcoin futures contracts are also block trade eligible, meaning that brokers can trade considerably large amounts of them. Options on futures (having the option to buy or sell at the pre-set date, not necessarily obligated to buy vs. sell) are available as well, allowing investors another possibility for how to manage their risk or speculate on the price. Drawbacks of Bitcoin futures include the fact that they dont trade in the same way that stocks do, so investors who are familiar with stocks will need to learn the ropes. In general, trading futures requires skilled expertise. As mentioned before, the process involves a lot of speculation, so it may not necessarily for beginner investors to participate in. Do I Need a Digital Wallet or a Broker to Trade Bitcoin Futures? You do not need a digital wallet to trade Bitcoin futures because transactions are settled financially. If you trade Bitcoin , though, it could be a good idea to have a wallet so that you dont have all your coins on an exchange thereby lessening your susceptibility to hacking. To take advantage of Bitcoin futures, you must open an account with a registered broker. The broker will maintain account and guarantee trades. Brokerage firms for futures are known as either a futures commission merchant (FCM) or introducing broker (IB). Specific brokers include FOREX, TD Ameritrade and Interactive Brokers . Some of them even provide a demo account and trading simulators so that investors can practice without actually committing / investing any funds yet. The strategies that you use, of course, will depend on your personal financial situation and goals. Bottom Line Two investors look at investment data on a screen and analyze the information to take their next step. Bitcoins futures can be another possibility for cryptocurrency investors to consider. Overall, investing in Bitcoin futures can be a useful way to get in on Bitcoin without having to buy and hold tokens directly. Usually, however, futures trading is not necessarily for beginners and can come with a lot of risk. Bitcoin in and of itself and cryptocurrency more generally can be a risky asset, too. Its important to do your research before dipping your toes in so that you can find a broker, set up a strategy and even connect with a professional advisor who can work with you. Tips for Investors Cryptocurrency investments are very attractive to new and experienced investors alike, but theyrewell, cryptic. Thats why speaking to a financial advisor can help you gain further insight. Luckily, finding a financial advisor doesnt have to be hard. SmartAssets free tool matches you with up to three financial advisors in your area in just five minutes. Get started now . Always do a little bit of number crunching on your own first. SmartAssets free investment calculator can help you determine what kinds of returns you need to reach your goals. Tax code is another part of finance that can become mysterious and cryptic. Use SmartAssets capital gains tax calculator to figure out how to minimize your taxes. Photo credit: ©iStock.com/sittipong phokawattana, ©iStock.com/SARINYAPINNGAM, ©iStock.com/guvendemir The post How to Trade Bitcoin Futures appeared first on SmartAsset Blog . \|\| XTZ Aims for New Highs, After Reclaiming Crucial Level: The tezos (XTZ) price has bounced at an important support area and began an upward movement. XTZ is expected to continue increasing and eventually reach a new all-time high price. XTZ reached an all-time high price of $7.75 on April 16. It has been moving downwards since then. Despite the drop, it has bounced above the $4.40 long-term support area. As long as the token is trading above this level, we can consider the trend bullish. Furthermore, technical indicators are also bullish. The MACD & Stochastic oscillator are both moving upwards. In addition, while the RSI is decreasing, it has generated considerable hidden bullish divergence. This is a strong sign of trend continuation. Therefore, XTZ is expected to continue increasing towards new highs. Cryptocurrency trader@damskotradesstated that XTZ willsurprise many people.If the hidden bullish divergence outlined transpire, it could indeed move towards a new all-time high. The daily chart supports the readings from the weekly one. The RSI, Stochastic Oscillator, and MACD are all increasing, a sign of a bullish trend. Furthermore, the movement since the beginning of Feb. shows a completedrunning flat correction. If so, XTZ would be expected to break out upwards with strength. Currently, it is facing resistance at the 0.618 Fib retracement level at $6.30. Afterwards, the next resistance levels are found at the all-time high of $6.86 and then $9.91, the1.61 external Fib retracement. The XTZ/BTC chart is also bullish. Previously, the 9,000 satoshi area had held as support since late 2018. The token fell thrice to this level, before initiating very significant upward movement. While it fell below it in December 2020, the price has moved above it since. This is a strong bullish sign that often leads to an upward movement. Technical indicators also support this possibility. If so, the next closest resistance level is found all the way at 25,916 satoshis. To conclude, XTZ/USD is expected to gradually increase towards a new all-time high. XTZ/BTC is expected to increase towards the 0.618 Fib retracement resistance at 25,916 satoshis. For BeInCrypto’s latestbitcoin(BTC) analysis,click here. [Social Media Buzz] None available.	56396.52, 57356.40, 58803.78, 58232.32, 55859.80, 56704.57, 49150.54, 49716.19, 49880.54, 46760.19
Given the historical Bitcoin prices from the last 90 days, predict the next 10 daily closing prices. The historical prices are: 6317.61, 6377.78, 6388.44, 6361.26, 6376.13, 6419.66, 6461.01, 6530.14, 6453.72, 6385.62, 6409.22, 6411.27, 6371.27, 6359.49, 5738.35, 5648.03, 5575.55, 5554.33, 5623.54, 4871.49, 4451.87, 4602.17, 4365.94, 4347.11, 3880.76, 4009.97, 3779.13, 3820.72, 4257.42, 4278.85, 4017.27, 4214.67, 4139.88, 3894.13, 3956.89, 3753.99, 3521.10, 3419.94, 3476.11, 3614.23, 3502.66, 3424.59, 3486.95, 3313.68, 3242.48, 3236.76, 3252.84, 3545.86, 3696.06, 3745.95, 4134.44, 3896.54, 4014.18, 3998.98, 4078.60, 3815.49, 3857.30, 3654.83, 3923.92, 3820.41, 3865.95, 3742.70, 3843.52, 3943.41, 3836.74, 3857.72, 3845.19, 4076.63, 4025.25, 4030.85, 4035.30, 3678.92, 3687.37, 3661.30, 3552.95, 3706.05, 3630.68, 3655.01, 3678.56, 3657.84, 3728.57, 3601.01, 3576.03, 3604.58, 3585.12, 3600.87, 3599.77, 3602.46, 3583.97, 3470.45.	[Bitcoin Technical Analysis for 2019-01-28] Volume: 6908930483, RSI (14-day): 37.30, 50-day EMA: 3870.78, 200-day EMA: 5342.07 [Wider Market Context] Gold Price: 1302.40, Gold RSI: 67.42 Oil Price: 51.99, Oil RSI: 52.31 [Recent News (last 7 days)] 25 Crypto Networks Vulnerable to ‘Fake Stake’ Attack, are Your Funds at Risk?: cryptocurrency crypto hack More than two dozen Proof-of-Stake (PoS) cryptocurrency networks are vulnerable to what has been dubbed a “fake stake” attack. The vulnerability allows a node with a very small stake to overwhelm competing nodes with false data and essentially crash them. Once competing nodes are gone, the attacking node can have a majority of stake on the crypto network, enabling it to conduct a 51% attack as the only validating node. Proof-of-Fake-Stake In a Proof-of-Stake system, mining is replaced by commitment of coins. The system uses existing coins to “mint” new coins instead of hashing power. A successful attacker could inadvertently make himself the only recipient of block rewards as well as transaction fees. At a minimum, he could limit the competition pool such that he was gaining disproportionate wealth. The Decentralized Systems Lab at University of Illinois at Urbana Champaign uncovered the attack when researching cryptocurrency codebases. All of the coins affected had begun with a Bitcoin codebase and dropped in PoS as an alternative to Bitcoin’s Proof-of-Work. Peercoin were the first to do this, and many Proof-of-Stake coins are forks of Peercoin. The researchers write : Read the full story on CCN.com . \|\| 25 Crypto Networks Vulnerable to ‘Fake Stake’ Attack, are Your Funds at Risk?: More than two dozen Proof-of-Stake (PoS) cryptocurrency networksare vulnerableto what has been dubbed a “fake stake” attack. The vulnerability allows a node with a very small stake to overwhelm competing nodes with false data and essentially crash them. Once competing nodes are gone, the attacking node can have a majority of stake on the crypto network, enabling it to conduct a 51% attack as the only validating node. In a Proof-of-Stake system, mining is replaced by commitment of coins. The system uses existing coins to “mint” new coins instead of hashing power. A successful attacker could inadvertently make himself the only recipient of block rewards as well as transaction fees. At a minimum, he could limit the competition pool such that he was gaining disproportionate wealth. The Decentralized Systems Lab at University of Illinois at Urbana Champaign uncovered the attack when researching cryptocurrency codebases. All of the coins affected had begun with aBitcoincodebase and dropped in PoS as an alternative to Bitcoin’s Proof-of-Work. Peercoin were the first to do this, and many Proof-of-Stake coins are forks of Peercoin. Theresearchers write: Read the full story onCCN.com. \|\| Van Eck Associates CEO: Bitcoin Investors Are Moving to Gold: Jan Van Eck, CEO of Van Eck Associates, suggested that Bitcoin ( BTC ) investors have moved to gold during an interview with CNBC published on Jan. 26. Van Eck declared that he thinks that Bitcoin pulled a bit of demand away from gold last year, in 2017. Afterward, he concluded: Interestingly, we just polled 4,000 Bitcoin investors and their number one investment for 2019 is actually gold. So gold lost to Bitcoin and now it's going the other way. During the same interview while talking about Bitcoin exchange-traded funds ( ETFs ), Tim Seymour, founder and chief investment officer of Seymour Asset Management, declared that Bitcoins function as a store of value is questionable: Not only have we lost all liquidity on the underlying [commodity] but truly outside of the existential blockchain argument, it's been very difficult to argue store of value which is really what we started hearing about. Gold is a store of value and there's no disputing that. Van Ecks firm created what CNBC defined as the most well known gold ETFs, namely the GDX gold miners ETF and the GDXJ junior gold miners ETF. Van Eck declared that those assets have been acting tremendously well over the last two or three months before underlining that they seemingly do the opposite of what stock markets do. In the majority of the days in Q4 when the S&P was down, GDX was up, he said, before concluding that decoupling makes me really excited about gold shares as a diversifier." Furthermore, according to CNBC, the GDX ETF grew by 14 percent in the fourth quarter, which according to the article is its best performance since Q2 2016. Moreover, the GDX is up under 1 percent this year, as the S&P 500 grew 6 percent. As Cointelegraph recently reported , the Chicago Board Options Exchanges (CBOE) BZX Equity Exchange has withdrawn its request for a rule change by the United States Securities and Exchange Commission ( SEC ). The requested change was meant to permit the listing of the ETF backed by VanEck and financial services company SolidX. Story continues At the end of last year, Bitcoins ( BTC ) average daily price change was the lowest value reported in the past nine years, Cointelegraph reported . Related Articles: UAE-Saudi Arabian Digital Currency 'Aber' to be Restricted to Select Banks at Start Bitcoin, Ripple, Ethereum, EOS, Bitcoin Cash, Litecoin, Tron, Stellar, Bitcoin SV, Cardano: Price Analysis, Jan. 28 NYSE Operator Partners With Blockstream to Launch Crypto Tracking Tool for Investors Bitcoin Skeptic, Ex-Starbucks CEO Howard Schultz Considers 2020 Presidential Run \|\| Van Eck Associates CEO: Bitcoin Investors Are Moving to Gold: Jan Van Eck, CEO of Van Eck Associates, suggested that Bitcoin (BTC) investors have moved togoldduring an interview with CNBCpublishedon Jan. 26. Van Eck declared that he thinks “that Bitcoin pulled a bit of demand away from gold last year, in 2017.” Afterward, he concluded: “Interestingly, we just polled 4,000 Bitcoin investors and their number one investment for 2019 is actually gold. So gold lost to Bitcoin and now it's going the other way.” During the same interview while talking about Bitcoin exchange-traded funds (ETFs), Tim Seymour, founder and chief investment officer of Seymour Asset Management, declared that Bitcoin’s function as a store of value is questionable: “Not only have we lost all liquidity on the underlying [commodity] but truly outside of the existential blockchain argument, it's been very difficult to argue store of value which is really what we started hearing about. Gold is a store of value and there's no disputing that.” Van Eck’s firm created what CNBC defined as the most well known gold ETFs, namely the GDX gold miners ETF and the GDXJ junior gold miners ETF. Van Eck declared that those assets “have been acting tremendously well over the last two or three months” before underlining that they seemingly do the opposite of what stock markets do. “In the majority of the days in Q4 when the S&P was down, GDX was up,” he said, before concluding “that decoupling makes me really excited about gold shares as a diversifier." Furthermore, according to CNBC, the GDX ETF grew by 14 percent in the fourth quarter, which according to the article is its best performance since Q2 2016. Moreover, the GDX is up under 1 percent this year, as the S&P 500 grew 6 percent. As Cointelegraph recentlyreported, the Chicago Board Options Exchange’s (CBOE) BZX Equity Exchange has withdrawn its request for a rule change by theUnited StatesSecurities and Exchange Commission (SEC). The requested change was meant to permit the listing of the ETF backed by VanEck and financial services company SolidX. At the end of last year, Bitcoin’s (BTC) average daily price change was the lowest value reported in the past nine years, Cointelegraphreported. • UAE-Saudi Arabian Digital Currency 'Aber' to be Restricted to Select Banks at Start • Bitcoin, Ripple, Ethereum, EOS, Bitcoin Cash, Litecoin, Tron, Stellar, Bitcoin SV, Cardano: Price Analysis, Jan. 28 • NYSE Operator Partners With Blockstream to Launch Crypto Tracking Tool for Investors • Bitcoin Skeptic, Ex-Starbucks CEO Howard Schultz Considers 2020 Presidential Run \|\| Van Eck Associates CEO: Bitcoin Investors Are Moving to Gold: Jan Van Eck, CEO of Van Eck Associates, suggested that Bitcoin (BTC) investors have moved togoldduring an interview with CNBCpublishedon Jan. 26. Van Eck declared that he thinks “that Bitcoin pulled a bit of demand away from gold last year, in 2017.” Afterward, he concluded: “Interestingly, we just polled 4,000 Bitcoin investors and their number one investment for 2019 is actually gold. So gold lost to Bitcoin and now it's going the other way.” During the same interview while talking about Bitcoin exchange-traded funds (ETFs), Tim Seymour, founder and chief investment officer of Seymour Asset Management, declared that Bitcoin’s function as a store of value is questionable: “Not only have we lost all liquidity on the underlying [commodity] but truly outside of the existential blockchain argument, it's been very difficult to argue store of value which is really what we started hearing about. Gold is a store of value and there's no disputing that.” Van Eck’s firm created what CNBC defined as the most well known gold ETFs, namely the GDX gold miners ETF and the GDXJ junior gold miners ETF. Van Eck declared that those assets “have been acting tremendously well over the last two or three months” before underlining that they seemingly do the opposite of what stock markets do. “In the majority of the days in Q4 when the S&P was down, GDX was up,” he said, before concluding “that decoupling makes me really excited about gold shares as a diversifier." Furthermore, according to CNBC, the GDX ETF grew by 14 percent in the fourth quarter, which according to the article is its best performance since Q2 2016. Moreover, the GDX is up under 1 percent this year, as the S&P 500 grew 6 percent. As Cointelegraph recentlyreported, the Chicago Board Options Exchange’s (CBOE) BZX Equity Exchange has withdrawn its request for a rule change by theUnited StatesSecurities and Exchange Commission (SEC). The requested change was meant to permit the listing of the ETF backed by VanEck and financial services company SolidX. At the end of last year, Bitcoin’s (BTC) average daily price change was the lowest value reported in the past nine years, Cointelegraphreported. • UAE-Saudi Arabian Digital Currency 'Aber' to be Restricted to Select Banks at Start • Bitcoin, Ripple, Ethereum, EOS, Bitcoin Cash, Litecoin, Tron, Stellar, Bitcoin SV, Cardano: Price Analysis, Jan. 28 • NYSE Operator Partners With Blockstream to Launch Crypto Tracking Tool for Investors • Bitcoin Skeptic, Ex-Starbucks CEO Howard Schultz Considers 2020 Presidential Run \|\| Top 5 Crypto Performers Overview: Tron, Litecoin, Binance Coin, Dash, Monero: The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Cointelegraph.com. Every investment and trading move involves risk, you should conduct your own research when making a decision. The market data is provided by theHitBTCexchange. Jeff Schumacher, founder of BCG Digital Ventures, toldCNBCduring a panel discussion in Davos, Switzerland that Bitcoin will go to zero. In another interview withFox Business, Fundstrat Global Managing Partner Thomas Lee said that Bitcoin can still go to $25,000, which he calls its fair value. Analysts at JPMorgan Chase have predicted that Bitcoin is likely to plunge to $2,400 and eventually further to $1,260. Such differing opinions can confuse new investors who are looking to enter the crypto markets. We believe that traders should focus on the fundamental developments in the crypto space, as well as on the price action on the charts. Cryptocurrencies as an asset class are here to stay. Numerous blockchain projects are securing funding from traditional investors every month, which confirms that those investors are confident in the long-term promise of crypto. Crypto companies are introducing new products to attract institutional investors. Moreover, efforts are in progress to integrate cryptocurrencies into the mainstream economy. It is only a matter of time before the bear market ends and a new bull phase begins. However, this time, we don’t expect a vertical rise as seen in 2017. It will likely be a more gradual movement higher. A few of the top cryptocurrencies are showing signs of bottoming out. Let’s see if any of the top performers of this week qualify as a buy. Tron (TRX) was the best performing cryptocurrency among the largest coins by market cap over the past week. In itsweeklyreport, Tron said that it has over “150 DApps and more than 300 smart contracts.” At the recent niTron Summit, Tron founder and CEO Justin Sun said that he expects the number of decentralized applications (DApps) on the network to surge to 2,000 by the year-end. TheTRX/USDpair is showing strength as the bulls are attempting to sustain above the overhead resistance at $0.02815521. As the cryptocurrency has been stuck in this range since mid-August, we believe that a breakout will result in a new uptrend. The immediate target objective is $0.4, but we expect this to be crossed and the rally to extend to $0.05218328. Therefore, we suggest long positions on a close (UTC time frame) above $0.02815521, with a stop loss just below $0.021. Conversely, if the cryptocurrency fails to sustain the breakout and drops below $0.02815521 once again, it will remain range bound between $0.0183 and $0.02815521. The sentiment will weaken if the bears push the price below the support of $0.0183. Litecoin (LTC) has come up with anewtagline “Take control of your money and pay with Litecoin” and a new logo. The logo was first showcased during a UFC event sponsored by the company and was widely appreciated. Will the new vision help change the fortunes for the struggling cryptocurrency? Let’s find out. TheLTC/USDpair is attempting to put a bottom in place. After the initial pullback from the low of $23.090, the bulls have held the support at $29.349 for the past five weeks. This increases the probability of this level being a higher low. We will get a confirmation if the price breaks out of the downtrend line and the previous swing high of $40.784. Long-term investors can expect the cryptocurrency to start a new uptrend if the price sustains above $40.784. There is a minor resistance at $47.246, above which the move can extend to $65.561. Our bullish view will be invalidated if the bears defend the overhead resistance of the downtrend line, or the $40.784 mark. In such a case, the price will remain range bound between $29.349 and $40.784 for a few more weeks, before breaking out or breaking down from it. Binance Coin (BNB) has made giant strides in the past few weeks and is now ranking12thlargest coin by market capitalization. Binance has become the latest exchange to offer a crypto-to-crypto over-the-counter (OTC) trading desk to benefit from the surge in OTC trading. The company has rebranded itsTrust Walletas a multi cryptocurrency wallet, adding support to a larger number of blockchains and has improved its various features. Binance Charity has announced a Lunch for Children program that will help providelunchto disadvantaged children in developing countries in Africa and elsewhere. Can BNB’s recovery continue or will it falter? Let’s see. TheBNB/USDpair has reached the resistance line of the descending channel. The 20-week EMA is also placed just above the channel. Therefore, we anticipate a strong resistance in the zone of $7.17–$7.7. A breakout and close (UTC time frame) above this zone is likely to signal a trend reversal. The upside target is $12 and if that is crossed, the move can extend to $15. We retain the buy proposed in the previousweeklyanalysis. If the position gets filled, we suggest traders book partial profits at resistance levels and raise the stops on the remaining amount. After all, the sentiment of the broader crypto market is still negative, so it is better to pocket small profits while one can, instead of waiting for a home run. Our bullish assumption will be invalidated if the price reverses direction from the current levels. The downtrend will resume if the bears sink the coin below $4.1723848. Dashrecently released version0.13of its build, and 47 percent of masternodes have already transitioned to it. The cryptocurrency is already quite popular in Venezuela with over2,600merchants accepting it. We expect the latest political crisis in Venezuela to attract more people to Dash, and this will highlight the importance of cryptocurrencies during times of unrest and crisis. Anypay and eGifter have partnered with coin, allowing customers to turn their DASH into eGift cards without converting to fiat. Can these fundamental factors propel the price? Let’s find out. The long-term trend in theDASH/USDpair is still down. The bulls are attempting to form a higher low around $67. However, both moving averages are trending down, and the RSI is also close to the oversold levels. This shows that the sellers currently have the upper hand. If the bears sink the cryptocurrency below $56.214, the downtrend will resume. The pair will show signs of strength if it breaks out of the overhead resistance zone of $103–$123. If that happens, a rally to $175 and above it to $224 will be probable. Another possibility is that the bears defend the immediate resistance at $103.261, resulting in a consolidation. Monero (XMR) managed to end the week with minor gains even though it was in the news for the wrong reasons. Astudypublished by academics from Spain and the UK has highlighted that about 4.3 percent of Monero’s total supply was mined illegally. The crypto exchange Gemini chose to list Dash instead of Monero because its founders, the Winklevoss Twins believe that the regulators would be more favorable to Dash. When the price doesn’t fall even amidst adverse news, it is usually a positive sign. So, is it a good time to buy? Let’s find out. TheXMR/USDpair has been consolidating in a tight range of $38.5–$60.147 for the past eight weeks. A breakdown of the range will resume the downtrend and can push it towards the next support at $28. On the other hand, a break out of the range can propel the cryptocurrency to the overhead resistance at $81. The downsloping 20-week EMA is located just below this level. Hence, we anticipate a strong resistance at $75–$81. As the price is currently trading close to the yearly low, we are not suggesting any trades. We might suggest long positions if the pair sustains above $81. Market data is provided by theHitBTCexchange. Charts for analysis are provided byTradingView. • Bitcoin, Ripple, Ethereum, EOS, Bitcoin Cash, Litecoin, Tron, Stellar, Bitcoin SV, Cardano: Price Analysis, Jan. 28 • Bitcoin Stays Over $3,600 as Most Top Cryptos See Slight Gains • Bitcoin, Ripple, Ethereum, Bitcoin Cash, EOS, Stellar, Litecoin, TRON, Bitcoin SV, Cardano: Price Analysis, Jan. 18 • Crypto Prices See Calm as ZB.Com Bypasses Binance to Become Top Exchange \|\| Top 5 Crypto Performers Overview: Tron, Litecoin, Binance Coin, Dash, Monero: The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Cointelegraph.com. Every investment and trading move involves risk, you should conduct your own research when making a decision. The market data is provided by the HitBTC exchange. Jeff Schumacher, founder of BCG Digital Ventures, told CNBC during a panel discussion in Davos, Switzerland that Bitcoin will go to zero. In another interview with Fox Business , Fundstrat Global Managing Partner Thomas Lee said that Bitcoin can still go to $25,000, which he calls its fair value. Analysts at JPMorgan Chase have predicted that Bitcoin is likely to plunge to $2,400 and eventually further to $1,260. Such differing opinions can confuse new investors who are looking to enter the crypto markets. We believe that traders should focus on the fundamental developments in the crypto space, as well as on the price action on the charts. Cryptocurrencies as an asset class are here to stay. Numerous blockchain projects are securing funding from traditional investors every month, which confirms that those investors are confident in the long-term promise of crypto. Crypto companies are introducing new products to attract institutional investors. Moreover, efforts are in progress to integrate cryptocurrencies into the mainstream economy. It is only a matter of time before the bear market ends and a new bull phase begins. However, this time, we don’t expect a vertical rise as seen in 2017. It will likely be a more gradual movement higher. A few of the top cryptocurrencies are showing signs of bottoming out. Let’s see if any of the top performers of this week qualify as a buy. TRX/USD Tron ( TRX ) was the best performing cryptocurrency among the largest coins by market cap over the past week. In its weekly report, Tron said that it has over “150 DApps and more than 300 smart contracts.” At the recent niTron Summit, Tron founder and CEO Justin Sun said that he expects the number of decentralized applications (DApps) on the network to surge to 2,000 by the year-end. Story continues TRX/USD The TRX/USD pair is showing strength as the bulls are attempting to sustain above the overhead resistance at $0.02815521. As the cryptocurrency has been stuck in this range since mid-August, we believe that a breakout will result in a new uptrend. The immediate target objective is $0.4, but we expect this to be crossed and the rally to extend to $0.05218328. Therefore, we suggest long positions on a close (UTC time frame) above $0.02815521, with a stop loss just below $0.021. Conversely, if the cryptocurrency fails to sustain the breakout and drops below $0.02815521 once again, it will remain range bound between $0.0183 and $0.02815521. The sentiment will weaken if the bears push the price below the support of $0.0183. LTC/USD Litecoin ( LTC ) has come up with a new tagline “Take control of your money and pay with Litecoin” and a new logo. The logo was first showcased during a UFC event sponsored by the company and was widely appreciated. Will the new vision help change the fortunes for the struggling cryptocurrency? Let’s find out. LTC/USD The LTC/USD pair is attempting to put a bottom in place. After the initial pullback from the low of $23.090, the bulls have held the support at $29.349 for the past five weeks. This increases the probability of this level being a higher low. We will get a confirmation if the price breaks out of the downtrend line and the previous swing high of $40.784. Long-term investors can expect the cryptocurrency to start a new uptrend if the price sustains above $40.784. There is a minor resistance at $47.246, above which the move can extend to $65.561. Our bullish view will be invalidated if the bears defend the overhead resistance of the downtrend line, or the $40.784 mark. In such a case, the price will remain range bound between $29.349 and $40.784 for a few more weeks, before breaking out or breaking down from it. BNB/USD Binance Coin ( BNB ) has made giant strides in the past few weeks and is now ranking 12th largest coin by market capitalization. Binance has become the latest exchange to offer a crypto-to-crypto over-the-counter ( OTC ) trading desk to benefit from the surge in OTC trading. The company has rebranded its Trust Wallet as a multi cryptocurrency wallet, adding support to a larger number of blockchains and has improved its various features. Binance Charity has announced a Lunch for Children program that will help provide lunch to disadvantaged children in developing countries in Africa and elsewhere. Can BNB’s recovery continue or will it falter? Let’s see. BNB/USD The BNB/USD pair has reached the resistance line of the descending channel. The 20-week EMA is also placed just above the channel. Therefore, we anticipate a strong resistance in the zone of $7.17–$7.7. A breakout and close (UTC time frame) above this zone is likely to signal a trend reversal. The upside target is $12 and if that is crossed, the move can extend to $15. We retain the buy proposed in the previous weekly analysis. If the position gets filled, we suggest traders book partial profits at resistance levels and raise the stops on the remaining amount. After all, the sentiment of the broader crypto market is still negative, so it is better to pocket small profits while one can, instead of waiting for a home run. Our bullish assumption will be invalidated if the price reverses direction from the current levels. The downtrend will resume if the bears sink the coin below $4.1723848. DASH/USD Dash recently released version 0.13 of its build, and 47 percent of masternodes have already transitioned to it. The cryptocurrency is already quite popular in Venezuela with over 2,600 merchants accepting it. We expect the latest political crisis in Venezuela to attract more people to Dash, and this will highlight the importance of cryptocurrencies during times of unrest and crisis. Anypay and eGifter have partnered with coin, allowing customers to turn their DASH into eGift cards without converting to fiat. Can these fundamental factors propel the price? Let’s find out. DASH/USD The long-term trend in the DASH/USD pair is still down. The bulls are attempting to form a higher low around $67. However, both moving averages are trending down, and the RSI is also close to the oversold levels. This shows that the sellers currently have the upper hand. If the bears sink the cryptocurrency below $56.214, the downtrend will resume. The pair will show signs of strength if it breaks out of the overhead resistance zone of $103–$123. If that happens, a rally to $175 and above it to $224 will be probable. Another possibility is that the bears defend the immediate resistance at $103.261, resulting in a consolidation. XMR/USD Monero ( XMR ) managed to end the week with minor gains even though it was in the news for the wrong reasons. A study published by academics from Spain and the UK has highlighted that about 4.3 percent of Monero’s total supply was mined illegally. The crypto exchange Gemini chose to list Dash instead of Monero because its founders, the Winklevoss Twins believe that the regulators would be more favorable to Dash. When the price doesn’t fall even amidst adverse news, it is usually a positive sign. So, is it a good time to buy? Let’s find out. XMR/USD The XMR/USD pair has been consolidating in a tight range of $38.5–$60.147 for the past eight weeks. A breakdown of the range will resume the downtrend and can push it towards the next support at $28. On the other hand, a break out of the range can propel the cryptocurrency to the overhead resistance at $81. The downsloping 20-week EMA is located just below this level. Hence, we anticipate a strong resistance at $75–$81. As the price is currently trading close to the yearly low, we are not suggesting any trades. We might suggest long positions if the pair sustains above $81. Market data is provided by the HitBTC exchange. Charts for analysis are provided by TradingView . Related Articles: Bitcoin, Ripple, Ethereum, EOS, Bitcoin Cash, Litecoin, Tron, Stellar, Bitcoin SV, Cardano: Price Analysis, Jan. 28 Bitcoin Stays Over $3,600 as Most Top Cryptos See Slight Gains Bitcoin, Ripple, Ethereum, Bitcoin Cash, EOS, Stellar, Litecoin, TRON, Bitcoin SV, Cardano: Price Analysis, Jan. 18 Crypto Prices See Calm as ZB.Com Bypasses Binance to Become Top Exchange \|\| Hodlers Digest, Jan. 2127: Top Stories, Price Movements, Quotes and FUD of the Week: Top Stories This Week CBOE Withdraws BTC ETF Rule Exchange Request From SEC Amid Govt Shutdown The Chicago Board Options Exchanges ( CBOE ) BZX Equity Exchange has withdrawn its request for a rule change from the United States Securities and Exchange Commission ( SEC ) in order to list its Bitcoin ( BTC ) exchange-traded fund ( ETF ). A CBOE spokesperson told Cointelegraph that U.S. government shutdown was the reason for the withdrawal, as the end of the review period is approaching with no government agencies able to operate fully. The CBOE will instead re-submit the filing for an ETF which was backed by investment firm VanEck and financial services company SolidX at a later date. Bank of International Settlements Believes Bitcoin Must Depart from Proof-of-Work According to new research from the Bank of International Settlements ( BIS ), Bitcoins problems can only be solved if the cryptocurrency departs from a proof-of-work system. The BIS research states that once Bitcoins block rewards fall to zero, the resulting transaction fees will not be sufficient to sustain mining expenses. While the study does not the existence of second-layer solutions like the Lightning Network , it notes that the only true remedy is a complete departure from proof-of-work to avoid an unusable network slowdown. US State of Wyoming Introduces Crypto Defining, Custody Legislation The state of Wyoming has introduced a bill that will both define cryptocurrency assets, as well as allow banks to provide custodial services for cryptocurrencies. According to the legislation, crypto assets would be placed into one of three categories digital consumer assets, digital securities and virtual currencies which means they would be defined as intangible personal property, granting virtual currencies the same treatment as money . Banks that provide 60 days written notice to the commissioner will be able to service as qualified custodians for digital assets if the bill passes. Story continues John McAfee Claims to Flee Country to Escape IRS, Conducts Presidential Campaign From Boat Crypto entrepreneur and advocate John McAfee claims that he has fled the country this week in order to escape an indictment by the U.S. Internal Revenue Service ( IRS ), and will be conducting his 2020 presidential campaign from a boat in international waters. According to McAfee, a grand jury had been convened against him by the IRS. McAfee also added that he has not paid U.S. taxes for eight years , speaking already from a boat in an unknown location from which he will use proxies to conduct his campaign. Bithumb Crypto Exchange Looks to Reverse Merger to Take Company Public in US Blockchain Exchange Alliance, a Singapore -based holding firm that has a controlling stake in crypto exchange Bithumb , is looking to acquire a publicly traded company in the U.S. According to media reports, Blockchain Industries a publicly traded company has signed a binding letter of intent with the Blockchain Exchange Alliance, which would in effect be the first instance of a crypto exchange going public if the reverse merge proves to be successful . An unnamed source added that the combined company plans to eventually uplist from the OTC markets to the New York Stock Exchange or Nasdaq . Winners and Losers The crypto markets are slightly down at the end of the week, with Bitcoin trading at around $3,581, Ripple at $0.31 and Ethereum about $115. Total market cap is around $119 billion. The top three altcoin gainers of the week are Obitan Chain, ALBOS and Bittwatt. The top three altcoin losers of the week are PlayerCoin, Hercules and Bitspace. Winners and Losers For more info on crypto prices, make sure to read Cointelegraphs market analysis . Most Memorable Quotations The next bull run will decide which public blockchains persist for the next 100 years. I believe Bitcoin is currently the only sure thing, Alistair Milne , United Kingdom -based investor and entrepreneur Most Memorable Quotations Institutional investors are pretty picky. They're very intelligent investors, but then they also require an ecosystem of sophisticated trading strategies and tools [...] They need derivatives, they need options, they need to get a short sell, and if our markets can get these things, what will happen is that you'll no longer see this massive volatility, Charles Hoskinson , founder of altcoin Cardano ( ADA ) 1) Either the innovation finds practical utility followed by years of steady and sustainable commercial progress and integration into the economic fabric (e.g., the Internet); or 2) The invention fails to achieve broad adoption and its commercial applications as medium of exchange are limited (e.g., the Segway), Adena Friedman , president and CEO of Nasdaq Inc. When it shot up high, I said I don't want to be one of those people who watches and watches it and cares about the number. I don't want that kind of care in my life [...] Part of my happiness is not to have worries, so I sold it all and just got rid of it, Steve Wozniak , Apple co-founder, on selling all of his Bitcoin FUD of the Week New Research Indicates $16 Million in Cryptocurrency Stolen in Cryptopia Hack According to an analysis by blockchain infrastructure firm Elementus, as much as $16 million in Ethereum and ERC20 tokens was stolen in the recent hack of New Zealand exchange Cryptopia . The exchange had originally reported that the losses were significant, without naming a specific number. According to the Elementus data, funds were transferred out of both core and secondary wallets from Jan. 13 to 17, while Cryptopia alerted police and the public about the hack by Jan. 15. Elementus investigations have found that around $15 million remains in the two wallets purportedly under control of the hackers, while about $880,000 has already been cashed out. Accused in Iceland Bitcoin Miner Heist Receives 4.5 Year Prison Sentence The Icelandic man accused of stealing Bitcoin mining equipment has received a four-and-a-half year prison sentence. Sindri Þór Stefánsson had been arrested in Amsterdam after reportedly flying to Holland with a stolen passport. Along with six other accomplices, Stefánsson received jail time after being convicted of the theft Bitcoin mining equipment reportedly worth $2 million , as well as two other attempted heists that took place December 2017 and January 2018. The groups target was Nordic IT company Advania, to which all seven defendants will now pay compensation of 33 million Icelandic Krona (about $273,000). Suspect Arrested in 11 Million IOTA Theft Case After International Police Collaboration A 36-year-old individual suspected of the theft of over $11 million in IOTA , as well as fraud and money laundering , has been arrested by the United Kingdoms South East Regional Organised Crime Unit. The Hessen State Police in Germany , the UKs National Crime Agency and Europol also helped with the arrest, following a search warrant carried out in Oxford, U.K. The suspect has reportedly stolen more than $11 million in IOTA from over 85 victims since January 2018 by using a malicious IOTA seed generator to lead users to private keys that he controls. Best Cointelegraph Features From the UK to Malaysia: How Countries Have Been Classifying Crypto Across the World Following the U.K.s release of a consultation paper for guidance on cryptocurrencies, Cointelegraph has released an analysis looking at how various country define and classify cryptocurrencies in the legal sense. Who Scales It Best? Inside Blockchains Ongoing Transactions-Per-Second Race As a series of blockchains keep competing to release a scalable product, Cointelegraph looks at various transaction times from different projects, bringing up the question of how important transaction speed really is. Controversial Content Creators Shift to Crypto After Censorship After a series of controversial figures have left mainstream crowdfunding sites in favor of raising money through cryptocurrency, Cointelegraph examines how the move to crypto works for both the creators and the crypto alternatives. Related Articles: Hodlers Digest, Jan. 1420: Top Stories, Price Movements, Quotes and FUD of the Week CBOE Withdraws Rule Change Request to List Bitcoin Exchange-Traded Fund Coinbase Adds Cross-Border Wire Transfers for High-Volume Customers in Europe, Asia Law Enforcement Requests to Shapeshift Rose 175% in Second Half of 2018 \|\| Hodler’s Digest, Jan. 21–27: Top Stories, Price Movements, Quotes and FUD of the Week: CBOE Withdraws BTC ETF Rule Exchange Request From SEC Amid Gov’t Shutdown The Chicago Board Options Exchange’s (CBOE) BZX Equity Exchange has withdrawn its request for a rule change from theUnited StatesSecurities and Exchange Commission (SEC) in order to list its Bitcoin (BTC) exchange-traded fund (ETF). A CBOE spokesperson told Cointelegraph thatU.S.government shutdown was the reasonfor the withdrawal, as the end of the review period is approaching with no government agencies able to operate fully. The CBOE will instead re-submit the filing for an ETF — which was backed by investment firm VanEck and financial services company SolidX — at a later date. Bank of International Settlements Believes Bitcoin Must Depart from Proof-of-Work According to new research from the Bank of International Settlements (BIS), Bitcoin’s problems can only be solved if the cryptocurrency departs from a proof-of-work system. The BIS research states that once Bitcoin’s block rewards fall to zero, the resulting transaction fees will not be sufficient to sustain mining expenses. While the study does not the existence of second-layer solutions like theLightning Network, it notes that the only true remedy is acomplete departure from proof-of-workto avoid an unusable network slowdown. US State of Wyoming Introduces Crypto Defining, Custody Legislation The state ofWyominghas introduced a bill that will both define cryptocurrency assets, as well as allow banks to provide custodial services for cryptocurrencies. According to the legislation, crypto assets would be placed into one of three categories — digital consumer assets, digital securities and virtual currencies — which means they would be defined as intangible personal property, granting virtual currencies thesame treatment as money. Banks that provide 60 days written notice to the commissioner will be able to service as qualified custodians for digital assets if the bill passes. John McAfee Claims to Flee Country to Escape IRS, Conducts Presidential Campaign From Boat Crypto entrepreneur and advocateJohn McAfeeclaims that he has fled the country this week in order to escape an indictment by the U.S. Internal Revenue Service (IRS), and will be conducting his 2020 presidential campaign from a boat in international waters. According to McAfee, a grand jury had been convened against him by the IRS. McAfee also added that hehas not paid U.S. taxes for eight years, speaking already from a boat in an unknown location from which he will use proxies to conduct his campaign. Bithumb Crypto Exchange Looks to Reverse Merger to Take Company Public in US Blockchain Exchange Alliance, aSingapore-based holding firm that has a controlling stake in crypto exchangeBithumb, is looking to acquire a publicly traded company in the U.S. According to media reports, Blockchain Industries — a publicly traded company — has signed a binding letter of intent with the Blockchain Exchange Alliance, which would in effect be thefirst instance of a crypto exchange going public if the reverse merge proves to be successful. An unnamed source added that the combined company plans to eventually “uplist” from the OTC markets to theNew York Stock ExchangeorNasdaq. The crypto markets are slightly down at the end of the week, with Bitcoin trading at around $3,581, Ripple at $0.31 and Ethereum about $115. Total market cap is around $119 billion. The top three altcoin gainers of the week are Obitan Chain, ALBOS and Bittwatt. The top three altcoin losers of the week are PlayerCoin, Hercules and Bitspace. For more info on crypto prices, make sure to read Cointelegraph’smarket analysis. “The next bull run will decide which public blockchains persist for the next 100 years. I believe Bitcoin is currently the only sure thing,” —Alistair Milne,United Kingdom-based investor and entrepreneur “Institutional investors are pretty picky. They're very intelligent investors, but then they also require an ecosystem of sophisticated trading strategies and tools [...] They need derivatives, they need options, they need to get a short sell, and if our markets can get these things, what will happen is that you'll no longer see this massive volatility,” —Charles Hoskinson, founder of altcoin Cardano (ADA) “1) Either the innovation finds practical utility followed by years of steady and sustainable commercial progress and integration into the economic fabric (e.g., the Internet); or 2) The invention fails to achieve broad adoption and its commercial applications as medium of exchange are limited (e.g., the Segway),” —Adena Friedman, president and CEO ofNasdaqInc. “When it shot up high, I said I don't want to be one of those people who watches and watches it and cares about the number. I don't want that kind of care in my life [...] Part of my happiness is not to have worries, so I sold it all and just got rid of it,”Steve Wozniak,Appleco-founder, on selling all of his Bitcoin New Research Indicates $16 Million in Cryptocurrency Stolen in Cryptopia Hack According to an analysis by blockchain infrastructure firm Elementus, as much as$16 million in Ethereum and ERC20 tokenswas stolen in therecent hackofNew ZealandexchangeCryptopia. The exchange had originally reported that the losses were significant, without naming a specific number. According to the Elementus data, funds were transferred out of both core and secondary wallets from Jan. 13 to 17, while Cryptopia alerted police and the public about the hack by Jan. 15. Elementus’ investigations have found that around $15 million remains in the two wallets purportedly under control of the hackers, while about $880,000 has already been cashed out. Accused in Iceland Bitcoin Miner Heist Receives 4.5 Year Prison Sentence TheIcelandicman accused of stealing Bitcoinminingequipment has received a four-and-a-half year prison sentence. Sindri Þór Stefánsson had been arrested in Amsterdam after reportedly flying to Holland with a stolen passport. Along with six other accomplices, Stefánsson received jail time after being convicted of the theft Bitcoin mining equipmentreportedly worth $2 million, as well as two other attempted heists that took place December 2017 and January 2018. The group’s target was Nordic IT company Advania, to which all seven defendants will now pay compensation of 33 million Icelandic Krona (about $273,000). Suspect Arrested in 11 Million IOTA Theft Case After International Police Collaboration A 36-year-old individual suspected of the theft of over $11 million inIOTA, as well as fraud andmoney laundering, has been arrested by theUnited Kingdom’sSouth East Regional Organised Crime Unit. The Hessen State Police inGermany, the UK’s National Crime Agency and Europol also helped with the arrest, following a search warrant carried out in Oxford, U.K. The suspect has reportedly stolen more than $11 million in IOTA from over 85 victims since January 2018 byusing a malicious IOTA seed generatorto lead users to private keys that he controls. From the UK to Malaysia: How Countries Have Been Classifying Crypto Across the World Following the U.K.’s release of a consultation paper for guidance on cryptocurrencies, Cointelegraph has released an analysis looking at how various country define and classify cryptocurrencies in the legal sense. Who Scales It Best? Inside Blockchains’ Ongoing Transactions-Per-Second Race As a series of blockchains keep competing to release a scalable product, Cointelegraph looks at various transaction times from different projects, bringing up the question of how important transaction speed really is. Controversial Content Creators Shift to Crypto After Censorship After a series of controversial figures have left mainstream crowdfunding sites in favor of raising money through cryptocurrency, Cointelegraph examines how the move to crypto works for both the creators and the crypto alternatives. • Hodler’s Digest, Jan. 14–20: Top Stories, Price Movements, Quotes and FUD of the Week • CBOE Withdraws Rule Change Request to List Bitcoin Exchange-Traded Fund • Coinbase Adds Cross-Border Wire Transfers for High-Volume Customers in Europe, Asia • Law Enforcement Requests to Shapeshift Rose 175% in Second Half of 2018 \|\| BIS Report Questions Longevity, Efficacy of Proof-of-Work Based Cryptocurrencies: A recent report from the Bank of International Settlements ( BIS ) has cast a spotlight on the efficacy and longevity of the proof-of-work ( PoW ) consensus and the future of Bitcoin . The paper takes an in-depth look at how the Bitcoin protocol verifies payments using blockchain technology and various consensus algorithms. PoW algorithms are a major point of discussion, with the author suggesting two major drawbacks. Firstly, the high cost of ensuring payment finality in a reasonable time frame, and the belief that PoW systems wont produce adequate transaction fees to guarantee payment security in the long run. It is a controversial and thought-provoking narrative, as it calls into question the future viability of Bitcoin as a transaction system and how it achieves payment finality through PoW. Unpacking the report The 31-page document goes into some technical detail, unpacking the nitty gritty aspects of the Bitcoin protocol, and how payments are validated and recorded on the blockchain. With a big focus on the economics of Bitcoin, the author examines how Bitcoin creates an immutable record of payments via PoW and goes into great depth examining data tied to transaction fees and block rewards, as well as the future potential of this method. In essence, the author suggests that a 51 percent attack by malicious miners is inherently profitable, using assumptions based on various economic considerations of Bitcoin mining. The author notes that a successful attacker would gain double-spent coins, by transaction fees and block rewards: This makes an attack inherently more profitable than honest mining, unless there are strong disadvantages in terms of costs for short-term rentals, a price collapse following any double-spending, or deterrence through overarching coordination. The second major argument of the research paper is solely focused on mining income. The premise of this section is that mining income from fees is not adequate enough for miners to keep their equipment operational in the future. Story continues Examining the way in which transaction fees fluctuate during different periods of time, it is suggested that the transaction market cannot produce enough income for miners to remain profitable. This is due to the way in which transaction fees work in the Bitcoin protocol. Users can assign the transaction fee of any given payment on the network, and miners naturally look to include transactions with the highests fees in their mined block to maximize their earnings. Nevertheless, some transactions are seen to be free-riding, as they may carry a small transaction fee but are bundled into a block therefore not contributing to a positive economic environment for miners. This is shown by the difference of transaction fees during periods of low and high transaction volumes. Considering this, it is argued that miners have relied heavily on the value of Bitcoin block rewards, which are garnered by successfully mining a block and recording transactions as examined below. So, with these two considerations, the report predicts that liquidity is set to drop in the coming years, as there is less incentive for miners to actively maintain the Bitcoin blockchain. This could potentially lead to massive delays in payments being processed and confirmed. The paper then goes on to explore various options that could address these concerns. Second-layer solutions like the Lightning Network are identified as potential answers to these problems. Nevertheless, the paper essentially argues that Bitcoin needs to depart from the PoW consensus and adopt some sort of social coordination or institutionalisation. How realistic are these assumptions? While this research paper provides some interesting food for thought, some of its assumptions are based on a reality that will be realized only after a century from now. Part of the writers argument assumes that once Bitcoin miners can no longer earn BTC rewards for unlocking a block, they wont be able to make enough income on transaction fees alone. In short, the Bitcoin mining process is what ensures that transactions are validated and recorded on the ever-expanding blockchain. Computers, known as miners, are required to solve a cryptographic algorithm in order to unlock a block, which is then used to store transactions. The reward for doing this work comes in the form of transactions fees and a certain amount of Bitcoin, which is awarded to the miner who unlocks a block. Bitcoin uses a PoW algorithm known as SHA-256, and it requires both time and electricity to solve. The system is programmed to become more difficult to solve as the mining pool grows. The Bitcoin reward for mining a block also halves every 210,000 blocks and, as it stands, miners receive a 12.5 BTC reward for unlocking a new block. The next halving is predicted to occur in May 2020. As Cointelegraph has previously reported , given that there are no changes to the protocol, the Bitcoin cap of 21 million tokens will be reached by the year 2140, 121 years from now. Thus, the argument put forward by the author that Bitcoin payments would take months once the block rewards hit zero holds no real relevance for the next 100 years, at least. However, as mentioned in the report, the development of the Lightning Network could very well answer the scaling and speed issues of transaction validation. Crypto industry investor Anthony Pompliano wasnt convinced that the BIS report paints an accurate prediction of how the mining ecosystem and Bitcoin could change: The more FUD that is published by legacy financial institutions, the more bullish I become. Bitcoin definitely has risks and challenges ahead, but this report does not give an accurate representation of them. While he may not agree with the outcomes given, Pompliano believes that the Lightning Network could well be the second-layer application that answers some of Bitcoins teething problems: The Lightning Network growth and adoption has been incredible. It is probably one of the fastest-growing products in crypto, which leads me to believe it has an increased probability of being the scaling solution of the future. A harsh truth While the paper hints at the possible shortcomings of Bitcoin, the preeminent cryptocurrency has proven itself through many trials over the last 10 years. That is not to say that it hasnt had its fair share of problems, which are documented in the BIS report. However, there has never been a successful 51 percent attack on Bitcoin. Data from Blockchain.com shows the major mining pools that dominate the hashrate distribution of Bitcoin. Should enough of these pools combine their resources, it would in theory be possible to have a majority of the hashrate and begin a dominant blockchain that is not honest. Source: Blockchain.com We need only look at the recent, successful 51 percent attack on the Ethereum Classic blockchain that grabbed headlines this month . This serves as a reminder that honest miners need to make up the bulk of the Bitcoin ecosystem for it to function as a truly decentralized cryptocurrency. The BIS report also suggests that the future of Bitcoins success and longevity could lie in the use of some sort of centralized system. As Pompliano says, this narrative seems to be a disruptive tactic by mainstream institutions that are resistant to the challenging nature of decentralized cryptocurrency: I wish legacy financial institutions would spend their time and resources to accelerate these innovations, but they wont. This is what slow disruption looks like. Related Articles: Tipping the Scales: Could Unit-e Finally Break Blockchains Scalability Impasse? Major Central Bank Institution BIS: Bitcoin Must Depart From Proof-of-Work Desktop Crypto Asset Manager Ledger Live Launches Mobile App Version India: Bank Blockchain Consortium Targets Improvements to Small Business Financing \|\| BIS Report Questions Longevity, Efficacy of Proof-of-Work Based Cryptocurrencies: A recentreportfrom the Bank of International Settlements (BIS) hascast a spotlighton the efficacy and longevity of the proof-of-work (PoW) consensus and the future ofBitcoin. The paper takes an in-depth look at how theBitcoinprotocol verifies payments usingblockchaintechnology and various consensus algorithms. PoW algorithms are a major point of discussion, with the author suggesting two major drawbacks. Firstly, the high cost of ensuring payment finality in a reasonable time frame, and the belief that PoW systems won’t produce adequate transaction fees to guarantee payment security in the long run. It is a controversial and thought-provoking narrative, as it calls into question the future viability of Bitcoin as a transaction system and how it achieves payment finality through PoW. The 31-page document goes into some technical detail, unpacking the nitty gritty aspects of the Bitcoin protocol, and how payments are validated and recorded on the blockchain. With a big focus on the economics of Bitcoin, the author examines how Bitcoin creates an immutable record of payments via PoW and goes into great depth examining data tied to transaction fees and block rewards, as well as the future potential of this method. In essence, the author suggests that a51 percent attackby malicious miners is inherently profitable, using assumptions based on various economic considerations of Bitcoin mining. The author notes that a successful attacker would gain double-spent coins, by transaction fees and block rewards: “This makes an attack inherently more profitable than honest mining, unless there are strong disadvantages in terms of costs for short-term rentals, a price collapse following any double-spending, or deterrence through overarching coordination.” The second major argument of the research paper is solely focused on mining income. The premise of this section is that mining income from fees is not adequate enough for miners to keep their equipment operational in the future. Examining the way in which transaction fees fluctuate during different periods of time, it is suggested that the transaction market cannot produce enough income for miners to remain profitable. This is due to the way in which transaction fees work in the Bitcoin protocol. Users can assign the transaction fee of any given payment on the network, and miners naturally look to include transactions with the highests fees in their mined block to maximize their earnings. Nevertheless, some transactions are seen to be “free-riding,” as they may carry a small transaction fee but are bundled into a block — therefore not contributing to a positive economic environment for miners. This is shown by the difference of transaction fees during periods of low and high transaction volumes. Considering this, it is argued that miners have relied heavily on the value of Bitcoin block rewards, which are garnered by successfully mining a block and recording transactions — as examined below. So, with these two considerations, the report predicts that liquidity is set to drop in the coming years, as there is less incentive for miners to actively maintain the Bitcoin blockchain. This could potentially lead to massive delays in payments being processed and confirmed. The paper then goes on to explore various options that could address these concerns. Second-layer solutions like the Lightning Network are identified as potential answers to these problems. Nevertheless, the paper essentially argues that Bitcoin needs to depart from the PoW consensus and adopt some sort of “social coordination or institutionalisation.” While this research paper provides some interesting food for thought, some of its assumptions are based on a reality that will be realized only after a century from now. Part of the writer’s argument assumes that once Bitcoin miners can no longer earn BTC rewards for unlocking a block, they won’t be able to make enough income on transaction fees alone. In short, the Bitcoin mining process is what ensures that transactions are validated and recorded on the ever-expanding blockchain. Computers, known as miners, are required to solve a cryptographic algorithm in order to unlock a block, which is then used to store transactions. The reward for doing this work comes in the form of transactions fees and a certain amount of Bitcoin, which is awarded to the miner who unlocks a block. Bitcoin uses a PoW algorithm known as SHA-256, and it requires both time and electricity to solve. The system is programmed to become more difficult to solve as the mining pool grows. The Bitcoin reward for mining a block also halves every 210,000 blocks and, as it stands, miners receive a 12.5 BTC reward for unlocking a new block. The next halving is predicted to occur in May 2020. As Cointelegraph haspreviously reported, given that there are no changes to the protocol, the Bitcoin cap of 21 million tokens will be reached by the year 2140, 121 years from now. Thus, the argument put forward by the author that Bitcoin payments would take months once the block rewards hit zero holds no real relevance for the next 100 years, at least. However, as mentioned in the report, the development of the Lightning Network could very well answer thescalingand speed issues of transaction validation. Crypto industry investor Anthony Pompliano wasn’t convinced that the BIS report paints an accurate prediction of how the mining ecosystem and Bitcoin could change: “The more FUD that is published by legacy financial institutions, the more bullish I become. Bitcoin definitely has risks and challenges ahead, but this report does not give an accurate representation of them.” While he may not agree with the outcomes given, Pompliano believes that the Lightning Network could well be the second-layer application that answers some of Bitcoin’s teething problems: “The Lightning Network growth and adoption has been incredible. It is probably one of the fastest-growing products in crypto, which leads me to believe it has an increased probability of being the scaling solution of the future.” While the paper hints at the possible shortcomings of Bitcoin, the preeminent cryptocurrency has proven itself through many trials over the last 10 years. That is not to say that it hasn’t had its fair share of problems, which are documented in the BIS report. However, there has never been a successful 51 percent attack on Bitcoin. Data fromBlockchain.comshows the major mining pools that dominate the hashrate distribution of Bitcoin. Should enough of these pools combine their resources, it would — in theory — be possible to have a majority of the hashrate and begin a dominant blockchain that is not honest. Source: Blockchain.com We need only look at the recent, successful 51 percent attack on the Ethereum Classic blockchain that grabbed headlinesthis month. This serves as a reminder that honest miners need to make up the bulk of the Bitcoin ecosystem for it to function as a truly decentralized cryptocurrency. The BIS report also suggests that the future of Bitcoin’s success and longevity could lie in the use of some sort of centralized system. As Pompliano says, this narrative seems to be a disruptive tactic by mainstream institutions that are resistant to the challenging nature of decentralized cryptocurrency: “I wish legacy financial institutions would spend their time and resources to accelerate these innovations, but they won’t. This is what slow disruption looks like.” • Tipping the Scales: Could Unit-e Finally Break Blockchain’s Scalability Impasse? • Major Central Bank Institution BIS: Bitcoin Must Depart From Proof-of-Work • Desktop Crypto Asset Manager Ledger Live Launches Mobile App Version • India: Bank Blockchain Consortium Targets Improvements to Small Business Financing \|\| Bitcoin Falls Under $3,600 Again as Most Top Cryptos See Mild Losses: Sunday, Jan. 27 — most of the top 20cryptocurrenciesare reporting slight losses on the day at press time. Bitcoin (BTC) is trading under $3,600 again, according toCoin360data. Market visualization fromCoin360 At press time, Bitcoin is down nearly 2 percent on the day, trading at around$3,562, according to CoinMarketCap. Looking at its weekly chart, the current price is about $100 lower than $3,655, the price at which Bitcoin started the week. Bitcoin 7-day price chart. Source:CoinMarketCap Ripple (XRP) has lost over 2.5 percent of its value in the 24 hours to press time and is currently trading at around $0.308. On its weekly chart, the current price is lower than $0.325, the price at which XRP started the week. Ripple 7-day price chart. Source:CoinMarketCap Second-largest altcoin Ethereum (ETH) has also seen its value decrease by nearly 2.5 percent over the last 24 hours. At press time, ETH is trading at $114, having started the day about 2 dollars higher. On the weekly chart, Ethereum’s current value is lower than $121, the price at which the coin started the week. Ethereum 7-day price chart. Source:CoinMarketCap Among the top 20 cryptocurrencies, the only ones experiencing growth areTron, which is up nearly 9 percent, and Binance Coin (BNB), which is up over 2.5 percent on the day at press time. Thecombined market capitalizationof all cryptocurrencies — currently equivalent to about $119.1 billion — is slightly lower than $121.6 billion, the value it reported one week ago. Total crypto market cap 7-day chart. Source:CoinMarketCap As Cointelegraph recentlyreported, a link to aphishingLocalBitcoinsclone website had been placed on the official LocalBitcoins forum earlier this week, but the attack has purportedly since been stopped. Also this week, crypto critic Nouriel Roubinicommentedat a blockchain conference that the technology is “no better than an Excel spreadsheet.” Cointelegraph alsoreportedon recent comments fromAppleco-founderSteve Wozniakthat he sold all of his BTC holdings at thepeakof $20,000 in December 2017. • Bitcoin Stays Over $3,600 as Most Top Cryptos See Slight Gains • Bitcoin Hovers Over $3,550 as Top Cryptos See Slight Losses • Bitcoin Approaches $3,700 as Top Cryptos Report Gains • Bitcoin Hovers Under $3,600 as Top Cryptos Remain Mostly Stable \|\| Bitcoin Falls Under $3,600 Again as Most Top Cryptos See Mild Losses: Sunday, Jan. 27 most of the top 20 cryptocurrencies are reporting slight losses on the day at press time. Bitcoin ( BTC ) is trading under $3,600 again, according to Coin360 data. Market visualization Market visualization from Coin360 At press time, Bitcoin is down nearly 2 percent on the day, trading at around $3,562 , according to CoinMarketCap. Looking at its weekly chart, the current price is about $100 lower than $3,655, the price at which Bitcoin started the week. Bitcoin 7-day price chart Bitcoin 7-day price chart. Source: CoinMarketCap Ripple ( XRP ) has lost over 2.5 percent of its value in the 24 hours to press time and is currently trading at around $0.308. On its weekly chart, the current price is lower than $0.325, the price at which XRP started the week. Ripple 7-day price chart Ripple 7-day price chart. Source: CoinMarketCap Second-largest altcoin Ethereum ( ETH ) has also seen its value decrease by nearly 2.5 percent over the last 24 hours. At press time, ETH is trading at $114, having started the day about 2 dollars higher. On the weekly chart, Ethereums current value is lower than $121, the price at which the coin started the week. Ethereum 7-day price chart Ethereum 7-day price chart. Source: CoinMarketCap Among the top 20 cryptocurrencies, the only ones experiencing growth are Tron , which is up nearly 9 percent, and Binance Coin ( BNB ), which is up over 2.5 percent on the day at press time. The combined market capitalization of all cryptocurrencies currently equivalent to about $119.1 billion is slightly lower than $121.6 billion, the value it reported one week ago. Total crypto market cap 7-day chart Total crypto market cap 7-day chart. Source: CoinMarketCap As Cointelegraph recently reported , a link to a phishing LocalBitcoins clone website had been placed on the official LocalBitcoins forum earlier this week, but the attack has purportedly since been stopped. Also this week, crypto critic Nouriel Roubini commented at a blockchain conference that the technology is no better than an Excel spreadsheet. Cointelegraph also reported on recent comments from Apple co-founder Steve Wozniak that he sold all of his BTC holdings at the peak of $20,000 in December 2017. Related Articles: Bitcoin Stays Over $3,600 as Most Top Cryptos See Slight Gains Bitcoin Hovers Over $3,550 as Top Cryptos See Slight Losses Bitcoin Approaches $3,700 as Top Cryptos Report Gains Bitcoin Hovers Under $3,600 as Top Cryptos Remain Mostly Stable \|\| Bitcoin Falls Under $3,600 Again as Most Top Cryptos See Mild Losses: Sunday, Jan. 27 — most of the top 20cryptocurrenciesare reporting slight losses on the day at press time. Bitcoin (BTC) is trading under $3,600 again, according toCoin360data. Market visualization fromCoin360 At press time, Bitcoin is down nearly 2 percent on the day, trading at around$3,562, according to CoinMarketCap. Looking at its weekly chart, the current price is about $100 lower than $3,655, the price at which Bitcoin started the week. Bitcoin 7-day price chart. Source:CoinMarketCap Ripple (XRP) has lost over 2.5 percent of its value in the 24 hours to press time and is currently trading at around $0.308. On its weekly chart, the current price is lower than $0.325, the price at which XRP started the week. Ripple 7-day price chart. Source:CoinMarketCap Second-largest altcoin Ethereum (ETH) has also seen its value decrease by nearly 2.5 percent over the last 24 hours. At press time, ETH is trading at $114, having started the day about 2 dollars higher. On the weekly chart, Ethereum’s current value is lower than $121, the price at which the coin started the week. Ethereum 7-day price chart. Source:CoinMarketCap Among the top 20 cryptocurrencies, the only ones experiencing growth areTron, which is up nearly 9 percent, and Binance Coin (BNB), which is up over 2.5 percent on the day at press time. Thecombined market capitalizationof all cryptocurrencies — currently equivalent to about $119.1 billion — is slightly lower than $121.6 billion, the value it reported one week ago. Total crypto market cap 7-day chart. Source:CoinMarketCap As Cointelegraph recentlyreported, a link to aphishingLocalBitcoinsclone website had been placed on the official LocalBitcoins forum earlier this week, but the attack has purportedly since been stopped. Also this week, crypto critic Nouriel Roubinicommentedat a blockchain conference that the technology is “no better than an Excel spreadsheet.” Cointelegraph alsoreportedon recent comments fromAppleco-founderSteve Wozniakthat he sold all of his BTC holdings at thepeakof $20,000 in December 2017. • Bitcoin Stays Over $3,600 as Most Top Cryptos See Slight Gains • Bitcoin Hovers Over $3,550 as Top Cryptos See Slight Losses • Bitcoin Approaches $3,700 as Top Cryptos Report Gains • Bitcoin Hovers Under $3,600 as Top Cryptos Remain Mostly Stable \|\| Fifteen Alleged Operators of $8 Million Crypto Scam Arrested in Taiwan: Police in New Taipei, Taiwan , have arrested fifteen suspects for allegedly running a cryptocurrency scam that earned them millions of dollars, English-language local media Focus Taiwan reports on Jan. 26. According to the article, the chief of the Criminal Investigation Bureau (CIB) Li Chi-hsun said at a press conference that the fifteen suspects — including the alleged leader surnamed Lin — have been arrested in two separate raids carried out on Jan. 9 and Jan. 17. The arrested suspects have been reportedly charged with fraud , and the case has been handed over to the Taipei District Prosecutors Office. The group allegedly defrauded over 30 people in the country of nearly NT$250 million (equivalent to about $8.16 million). The suspects reportedly promoted IBCoin, an Ethereum (ETH) ERC20 token aiming to be a means of payment for the adult entertainment industry, according to its promotional material . The alleged fraudsters reportedly also publicized the scheme on Facebook, posting pictures of expensive cars and luxurious lifestyles to lure in new victims, Focus Taiwan reports. The article explains that according to the CIB, Lin purchased the tokens at a price of NT$1.5 (equivalent to less than $0.05) per unit in 2017. Lin then allegedly asked his collaborators to sell the tokens at NT$50-NT$100 ($1.63-$3.27) per unit and promise high returns. According to the report, the CIB said that no victim has ever seen any return on their investment and the token has no real value since “there are currently no known companies that trade or deal in IBCoins.” As Cointelegraph recently reported , seven people who allegedly managed a fraudulent crypto investment scheme have been indicted in Taiwan . According to a report, citing local prosecutors, the defendants were charged with the violation of Taiwan's Banking and Multi-Level Marketing Supervision acts. Also, news broke earlier this month that Indian police have arrested an associate of a group accused of conducting a crypto scam involving 5 billion rupees (about $70.5 million). Related Articles: Malta’s Financial Watchdog Warns Global Investors Against ‘Bitcoin Revolution’ Scam International Police Collaboration Leads to Arrest of Suspect in $11 Million IOTA Theft Taiwan Indicts Seven Allegedly Fraudulent Bitcoin Investment Managers Italian Securities Regulator CONSOB Adds Crypto Company Togacoin to Scam Blacklist \|\| Fifteen Alleged Operators of $8 Million Crypto Scam Arrested in Taiwan: Policein New Taipei,Taiwan, have arrested fifteen suspects for allegedly running acryptocurrencyscamthat earned them millions of dollars, English-language local media Focus Taiwanreportson Jan. 26. According to the article, the chief of the Criminal Investigation Bureau (CIB) Li Chi-hsun said at a press conference that the fifteen suspects — including the alleged leader surnamed Lin — have been arrested in two separate raids carried out on Jan. 9 and Jan. 17. The arrested suspects have been reportedly charged withfraud, and the case has been handed over to the Taipei District Prosecutors Office. The group allegedly defrauded over 30 people in the country of nearly NT$250 million (equivalent to about $8.16 million). The suspects reportedly promoted IBCoin, anEthereum(ETH) ERC20 token aiming to be a means of payment for the adult entertainment industry, according to itspromotional material. The alleged fraudsters reportedly also publicized the scheme on Facebook, posting pictures of expensive cars and luxurious lifestyles to lure in new victims, Focus Taiwan reports. The article explains that according to the CIB, Lin purchased the tokens at a price of NT$1.5 (equivalent to less than $0.05) per unit in 2017. Lin then allegedly asked his collaborators to sell the tokens at NT$50-NT$100 ($1.63-$3.27) per unit and promise high returns. According to the report, the CIB said that no victim has ever seen any return on their investment and the token has no real value since “there are currently no known companies that trade or deal in IBCoins.” As Cointelegraph recentlyreported, seven people who allegedly managed afraudulentcryptoinvestmentscheme have been indicted inTaiwan. According to a report, citing local prosecutors, the defendants were charged with the violation of Taiwan's Banking and Multi-Level Marketing Supervision acts. Also,news brokeearlier this month thatIndianpolice have arrested an associate of a group accused of conducting a crypto scam involving 5 billion rupees (about $70.5 million). • Malta’s Financial Watchdog Warns Global Investors Against ‘Bitcoin Revolution’ Scam • International Police Collaboration Leads to Arrest of Suspect in $11 Million IOTA Theft • Taiwan Indicts Seven Allegedly Fraudulent Bitcoin Investment Managers • Italian Securities Regulator CONSOB Adds Crypto Company Togacoin to Scam Blacklist \|\| TRON Spikes 134% in 1 Month: Will the Crypto Sector’s Strong Performance Push Bitcoin Higher?: In the last 48 hours, since its daily peak on January 26, theBitcoin pricehas declined from $3,657 to $3,515, by nearly four percent against the U.S. dollar, while TRON surged by 10 percent on the day. The decline in the Bitcoin price has led the valuation of the crypto market to drop by $2 billion from $221 billion to $219 billion. Major crypto assets in the likes of Ethereum (ETH), Ripple (XRP), EOS (EOS), and Bitcoin Cash (BCH) initiated losses in the range of three to five percent. Read the full story onCCN.com. \|\| TRON Spikes 134% in 1 Month: Will the Crypto Sector’s Strong Performance Push Bitcoin Higher?: In the last 48 hours, since its daily peak on January 26, theBitcoin pricehas declined from $3,657 to $3,515, by nearly four percent against the U.S. dollar, while TRON surged by 10 percent on the day. The decline in the Bitcoin price has led the valuation of the crypto market to drop by $2 billion from $221 billion to $219 billion. Major crypto assets in the likes of Ethereum (ETH), Ripple (XRP), EOS (EOS), and Bitcoin Cash (BCH) initiated losses in the range of three to five percent. Read the full story onCCN.com. \|\| TRON Spikes 134% in 1 Month: Will the Crypto Sectors Strong Performance Push Bitcoin Higher?: Bitcoin, TRON, Cryptocurrency In the last 48 hours, since its daily peak on January 26, the Bitcoin price has declined from $3,657 to $3,515, by nearly four percent against the U.S. dollar, while TRON surged by 10 percent on the day. The decline in the Bitcoin price has led the valuation of the crypto market to drop by $2 billion from $221 billion to $219 billion. Major crypto assets in the likes of Ethereum (ETH), Ripple (XRP), EOS (EOS), and Bitcoin Cash (BCH) initiated losses in the range of three to five percent. Read the full story on CCN.com . \|\| Oil Price Fundamental Weekly Forecast – Next Major Move Hinges on This Week’s US-China Trade Talks: U.S. West Texas Intermediate and international benchmark Brent crude oil futures settled lower last week. Most of the pressure came from selling encouraged by weak GDP data from China and a bearish outlook for the global economy by the International Monetary Fund (IMF). Rising U.S. production also weighed on prices. Last week, March WTI crude oil settled at $53.69, down $0.35 or -0.65%. March Brent crude oil finished at $61.64, down $1.06 or -1.72%. Underpinning the market were the OPEC-led production cuts. The cartel along with its ally Russia have been reducing output by 1.2 million barrels per day since January 1 in an effort to trim the excess global supply and reduce prices. Late in the week, the market was underpinned by worries about supply disruptions due to economic and political turmoil in Venezuela. Global Economic Slowdown WTI and Brent crude oil were pressured early in the week after China announced that its official economic growth came in at 6.6 percent in 2018, the slowest pace since 1990. Fourth-quarter GDP growth was 6.4 percent, a sign the economy is decelerating. Shortly thereafter, an announcement from the International Monetary Fund (IMF) further weakened crude oil as it raised issues over future demand when it cut its global growth forecast for 2019 to 3.5 percent from 3.7 percent. Speaking at the World Economic Forum in Davos, Switzerland, IMF Managing Director Christine Lagarde said the move was due to the high level of economic risks that are accelerating around the globe. These include the U.S-China trade war, Brexit and China’s slowing economy. A dovish outlook from the Bank of Japan and the European Central Bank also weighed on prices. Rising U.S. Production and Fuel Inventories According to the EIA, U.S. crude inventories surprisingly surged last week. The data showed that crude oil inventories rose by 7.97 million barrels during the week-ending January 18. Traders were looking for a draw of about 200,000. Story continues Gasoline inventories also rose by 4.05 million barrels versus a forecast for a build of 2.66 million barrels. This was the eighth consecutive week of increases. Distillate stockpiles decreased by 0.62 million barrels, compared to estimates for a decline of 0.23 million. Supply Disruption Concerns Crude oil futures closed higher on Friday amid concerns that the political turmoil in Venezuela could lead to a disruption in supply. According to reports on Thursday, the Trump administration signaled it could impose sanctions on Venezuela’s crude exports. This is potentially bullish for crude oil prices because it comes on top of the sanctions against Iran that have already limited supply, However, some traders believe it could take months before the U.S. implements any sanctions against the nation. Forecast Since the U.S.-China trade dispute is sharing the blame for the slowing global economy and forecasts for lower demand, this week’s U.S.-China high level trade talks will take on added importance. The meetings will be held in Washington on January 30-31. Both sides have already offered concessions, but the major sticking points include protection of intellectual property and how to police any agreement. With U.S. production rising almost as much as the OPEC-led cuts, a severe global economic slowdown will be bearish for crude because of lower demand. Potential sanctions on Venezuela are a wildcard because no one is sure if or when they will take place. Anything positive from the trade talks is likely to be supportive for crude oil prices. This article was originally posted on FX Empire More From FXEMPIRE: Bitcoin Cash – ABC, Litecoin and Ripple Daily Analysis – 27/01/19 USD/JPY Fundamental Weekly Forecast – Investors Caught Between Potentially Dovish Fed, Increased Risk Appetite USD/JPY Forex Technical Analysis – Strengthens Over 110.452, Weakens Under 109.445 E-mini S&P 500 Index (ES) Futures Technical Analysis – Strengthens Over 2677.75, Weakens Under 2636.00 E-mini NASDAQ-100 Index (NQ) Futures Technical Analysis – Ready to Test Major Retracement Zone at 6792.75 to 7022.25 Brent Crude Oil Price Update – Strengthens Over $61.61, Weakens Under $60.95 [Social Media Buzz] #Swiss Bank Partners With #Bitstamp #NYSE Arca Files Paperwork for #Bitwise Bitcoin #ETF #LocalBitcoins Revealed It Was Breached by an Unauthorized Source https://t.co/jkOTBGs0Wf \|\| USD: 109.430 EUR: 124.910 GBP: 144.152 AUD: 78.636 NZD: 75.025 CNY: 16.232 CHF: 110.335 BTC: -- ETH: 11,520 Mon Jan 28 20:00 JST \|\| Total Market Cap: $113,323,883,003 1 BTC: $3,467.33 BTC Dominance: 53.53% Update Time: 28-01-2019 - 17:00:09 (GMT+3) \|\| #BLOCKUpdate Bitcoin Price: $3538.01 24h Change: -2.04% \|...	3448.12, 3486.18, 3457.79, 3487.95, 3521.06, 3464.01, 3459.15, 3466.36, 3413.77, 3399.47
Given the historical Bitcoin prices from the last 90 days, predict the next 10 daily closing prices. The historical prices are: 416.32, 422.37, 420.79, 437.16, 438.80, 437.75, 420.74, 424.95, 424.54, 432.15, 432.52, 433.50, 437.70, 435.12, 423.99, 421.65, 410.94, 400.57, 407.71, 414.32, 413.97, 414.86, 417.13, 421.69, 411.62, 414.07, 416.44, 416.83, 417.01, 420.62, 409.55, 410.44, 413.76, 413.31, 418.09, 418.04, 416.39, 417.18, 417.95, 426.77, 424.23, 416.52, 414.82, 416.73, 417.96, 420.87, 420.90, 421.44, 424.03, 423.41, 422.74, 420.35, 419.41, 421.56, 422.48, 425.19, 423.73, 424.28, 429.71, 430.57, 427.40, 428.59, 435.51, 441.39, 449.42, 445.74, 450.28, 458.55, 461.43, 466.09, 444.69, 449.01, 455.10, 448.32, 451.88, 444.67, 450.30, 446.72, 447.98, 459.60, 458.54, 458.55, 460.48, 450.89, 452.73, 454.77, 455.67, 455.67, 457.57, 454.16.	[Bitcoin Technical Analysis for 2016-05-16] Volume: 59171500, RSI (14-day): 54.45, 50-day EMA: 442.18, 200-day EMA: 399.45 [Wider Market Context] Gold Price: 1273.40, Gold RSI: 54.92 Oil Price: 47.72, Oil RSI: 67.46 [Recent News (last 7 days)] What to do if hackers hold your computer hostage and demand cash: You’re sitting at your computer when you get an email from your local bank saying you were just hit with a charge for a new $1,200 MacBook that you never bought. You click the email and follow the embedded link or download the included receipt to find out what’s up. Just like that, your computer has been infected with ransomware. You can’t access your files, and all you can see is a timer counting down the time until hackers delete your computer’s drive unless you pay them a fee in iTunes gift cards. All you can do is scratch your head and wonder what the hell just happened. Well, I’m here to explain that to you — and to help you fight back against ransomware criminals. The most important thing to remember is this: Never, ever pay the ransom. Let’s start with the basics. A particularly nefarious form of malware, ransomware is a piece of software criminals use to lock you out of your computer by encrypting its files and holding them for ransom for a specific dollar amount. If you don’t pay up, you can potentially say goodbye to your photos, tax documents, pay stubs, and any other documents you’ve saved throughout the years. This isn’t some idle threat, either. If you don’t pay, your documents will disappear or simply stay locked up until you completely reformat your system. Ransomware programs sometimes require you to pay in Bitcoin, an anonymous currency that can’t be tracked. However, criminals have increasingly begun demanding payment in the form of iTunes or Amazon gift cards, since the average person doesn’t know how to use Bitcoin, according to Gary Davis, chief consumer security evangelist at Intel Security. The amount you have to pay to unlock your computer can vary, with some experts saying criminals will ask for up to $500. To be clear, ransomware doesn’t just target Windows PCs. The malware has been known to impact systems ranging from Android phones and tablets to Linux-based computers and Macs. According to Davis, ransomware was actually popular among cybercriminals over a decade ago. But it was far easier to catch the perpetrators back then since anonymous currency like Bitcoin didn’t exist yet. Bitcoin helped changed all that by making it nearly impossible to track criminals based on how victims pay them. There are multiple types of ransomware out there, according to Chester Wisniewski, a senior security advisor with the computer security company Sophos. Each variation is tied to seven or eight criminal organizations. Those groups build the software and then sell it on the black market, where other criminals purchase it and then begin using it for their own gains. Ransomware doesn’t just pop up on your computer by magic. You actually have to download it. And while you could swear up and down that you’d never be tricked into downloading malware, cybercriminals get plenty of people to do just that. Here’s the thing: That email you opened to get ransomware on your computer in the first place was specifically written to get you to believe it was real. That’s because criminals use social engineering to craft their messages. For example, hackers can determine your location and send emails that look like they’re from companies based in your country. “Criminals are looking are looking up information about where you live, so you’ll click (emails),” Wisniewski explained to Yahoo Finance. “So if you’re in America, you’ll see something from Citi Bank, rather than Deutsche Bank, which is in Germany.” Cybercriminals can also target ransomware messages to the time of year. So if it’s the holiday shopping season, criminals might send out messages supposedly from companies like the US Postal Service, FedEx or DHL. If it’s tax time, you could receive a message that says it’s from the IRS. Other ransomware messages might claim the FBI has targeted you for using illegal software or viewing child pornography on your computer. Then, the message will tell you to click a link to a site to pay a fine — only to lock up your computer after you click. It’s not just email, though. An attack known as a drive-by can get you if you simply visit certain websites. That’s because criminals have the ability to inject their malware into ads or links on poorly secured sites. When you go to such a site, you’ll download the ransomware. Just like that, you’re locked out of your computer. Ransomware attacks vulnerabilities in outdated versions of software. So, believe it or not, the best way to protect yourself is to constantly update your operating system’s software and apps like Adobe Reader. That means you should always click that little “update” notification on your desktop, phone, or tablet. Don’t put it off. Beyond that, you should always remember to back up your files. You can either do that by backing them up to a cloud service like Amazon Cloud, Google Drive or iCloud, or by backing up to an external drive. That said, you’ll want to be careful with how you back up your content. That’s because, according to Kaspersky Lab’s Ryan Naraine, some ransomware can infect your backups. Naraine warns against staying logged into your cloud service all the time, as some forms of malware can lock you out of even them. What’s more, if you’re backing up to an external hard drive, you’ll want to disconnect it from your PC when you’re finished, or the ransomware could lock that, as well. Naraine also says you should disconnect your computer from the internet if you see your system being actively encrypted. Doing so, he explains, could prevent all of your files that have yet to be encrypted from being locked. Above all, every expert I spoke with recommended installing some form of anti-virus software and some kind of web browser filtering. With both types of software installed, your system up to date, and a backup available, you should be well-protected. Oh, and for the love of god, avoid downloading any suspicious files or visiting sketchy websites. Even if you follow all of the above steps, ransomware could still infect your computer or mobile device. If that’s the case, you have only a few options. The first and easiest choice is to delete your computer or mobile device and reinstall your operating system. You’ll lose everything, but you won’t have to pay some criminal who’s holding your files hostage. Some security software makers also sell programs that can decrypt your files. That said, by purchasing one, you’re betting that it will work on the ransomware on your computer, which isn’t always the case. On top of that, ransomware makers can update their malware to beat security software makers’ offerings. All of the experts agree that the average person should never pay the ransom — even if it means losing their files. Doing so, they say, helps perpetuate a criminal act and emboldens ransomware makers. Even if you do pay up, the ransomware could have left some other form of malware on your computer that you might not see. In other words: Tell the criminals to take a hike. Email Daniel [email protected]; follow him on Twitter at@DanielHowley. \|\| What to do if hackers hold your computer hostage and demand cash: Ransomware can ruin your computer and all of your files. You’re sitting at your computer when you get an email from your local bank saying you were just hit with a charge for a new $1,200 MacBook that you never bought. You click the email and follow the embedded link or download the included receipt to find out what’s up. Just like that, your computer has been infected with ransomware. You can’t access your files, and all you can see is a timer counting down the time until hackers delete your computer’s drive unless you pay them a fee in iTunes gift cards. All you can do is scratch your head and wonder what the hell just happened. Well, I’m here to explain that to you — and to help you fight back against ransomware criminals. The most important thing to remember is this: Never, ever pay the ransom. Ransom? Let’s start with the basics. A particularly nefarious form of malware, ransomware is a piece of software criminals use to lock you out of your computer by encrypting its files and holding them for ransom for a specific dollar amount. If you don’t pay up, you can potentially say goodbye to your photos, tax documents, pay stubs, and any other documents you’ve saved throughout the years. This isn’t some idle threat, either. If you don’t pay, your documents will disappear or simply stay locked up until you completely reformat your system. Ransomware programs sometimes require you to pay in Bitcoin, an anonymous currency that can’t be tracked. However, criminals have increasingly begun demanding payment in the form of iTunes or Amazon gift cards, since the average person doesn’t know how to use Bitcoin, according to Gary Davis, chief consumer security evangelist at Intel Security. The amount you have to pay to unlock your computer can vary, with some experts saying criminals will ask for up to $500. To be clear, ransomware doesn’t just target Windows PCs. The malware has been known to impact systems ranging from Android phones and tablets to Linux-based computers and Macs. Where it comes from According to Davis, ransomware was actually popular among cybercriminals over a decade ago. But it was far easier to catch the perpetrators back then since anonymous currency like Bitcoin didn’t exist yet. Bitcoin helped changed all that by making it nearly impossible to track criminals based on how victims pay them. Story continues Ransomware There are multiple types of ransomware out there, according to Chester Wisniewski, a senior security advisor with the computer security company Sophos. Each variation is tied to seven or eight criminal organizations. Those groups build the software and then sell it on the black market, where other criminals purchase it and then begin using it for their own gains. How they get you Ransomware doesn’t just pop up on your computer by magic. You actually have to download it. And while you could swear up and down that you’d never be tricked into downloading malware, cybercriminals get plenty of people to do just that. Here’s the thing: That email you opened to get ransomware on your computer in the first place was specifically written to get you to believe it was real. That’s because criminals use social engineering to craft their messages. For example, hackers can determine your location and send emails that look like they’re from companies based in your country. “Criminals are looking are looking up information about where you live, so you’ll click (emails),” Wisniewski explained to Yahoo Finance. “So if you’re in America, you’ll see something from Citi Bank, rather than Deutsche Bank, which is in Germany.” Cybercriminals can also target ransomware messages to the time of year. So if it’s the holiday shopping season, criminals might send out messages supposedly from companies like the US Postal Service, FedEx or DHL. If it’s tax time, you could receive a message that says it’s from the IRS. Other ransomware messages might claim the FBI has targeted you for using illegal software or viewing child pornography on your computer. Then, the message will tell you to click a link to a site to pay a fine — only to lock up your computer after you click. It’s not just email, though. An attack known as a drive-by can get you if you simply visit certain websites. That’s because criminals have the ability to inject their malware into ads or links on poorly secured sites. When you go to such a site, you’ll download the ransomware. Just like that, you’re locked out of your computer. How to protect yourself Ransomware attacks vulnerabilities in outdated versions of software. So, believe it or not, the best way to protect yourself is to constantly update your operating system’s software and apps like Adobe Reader. That means you should always click that little “update” notification on your desktop, phone, or tablet. Don’t put it off. Beyond that, you should always remember to back up your files. You can either do that by backing them up to a cloud service like Amazon Cloud, Google Drive or iCloud, or by backing up to an external drive. That said, you’ll want to be careful with how you back up your content. That’s because, according to Kaspersky Lab’s Ryan Naraine, some ransomware can infect your backups. A fake warning used by ransomware criminals. Naraine warns against staying logged into your cloud service all the time, as some forms of malware can lock you out of even them. What’s more, if you’re backing up to an external hard drive, you’ll want to disconnect it from your PC when you’re finished, or the ransomware could lock that, as well. Naraine also says you should disconnect your computer from the internet if you see your system being actively encrypted. Doing so, he explains, could prevent all of your files that have yet to be encrypted from being locked. Above all, every expert I spoke with recommended installing some form of anti-virus software and some kind of web browser filtering. With both types of software installed, your system up to date, and a backup available, you should be well-protected. Oh, and for the love of god, avoid downloading any suspicious files or visiting sketchy websites. What to do if you’re infected Even if you follow all of the above steps, ransomware could still infect your computer or mobile device. If that’s the case, you have only a few options. The first and easiest choice is to delete your computer or mobile device and reinstall your operating system. You’ll lose everything, but you won’t have to pay some criminal who’s holding your files hostage. Some security software makers also sell programs that can decrypt your files. That said, by purchasing one, you’re betting that it will work on the ransomware on your computer, which isn’t always the case. On top of that, ransomware makers can update their malware to beat security software makers’ offerings. All of the experts agree that the average person should never pay the ransom — even if it means losing their files. Doing so, they say, helps perpetuate a criminal act and emboldens ransomware makers. Even if you do pay up, the ransomware could have left some other form of malware on your computer that you might not see. In other words: Tell the criminals to take a hike. Email Daniel at [email protected] ; follow him on Twitter at @DanielHowley . \|\| Fintech could be bigger than ATMs, PayPal, and Bitcoin combined: This is a complimentary article from BI Intelligence, Business Insider's premium subscription service for business professionals.For more information about everything BI Intelligence has to offer, click here to learn more >> We’ve entered the most profound era of change for financial services companies since the 1970s brought us index mutual funds, discount brokers and ATMs. No firm is immune from the coming disruption and every company must have a strategy to harness the powerful advantages of the new financial technology (“fintech”) revolution. The battle already underway will create surprising winners and stunned losers among some of the most powerful names in the financial world: The most contentious conflicts (and partnerships) will be between startups that are completely reengineering decades-old practices, traditional power players who are furiously trying to adapt with their own innovations, and total disruption of established technology & processes: • Traditional Retail Banks vs. Online-Only Banks:Traditional retail banks provide a valuable service, but online-only banks can offer many of the same services with higher rates and lower fees • Traditional Lenders vs. Peer-to-Peer Marketplaces: P2P lending marketplaces are growing much faster than traditional lenders—only time will tell if the banks strategy of creating their own small loan networks will be successful • Traditional Asset Managers vs. Robo-Advisors: Robo-advisors likeBettermentoffer lower fees, lower minimums and solid returns to investors, but the much larger traditional asset managers are creating their own robo-products while providing the kind of handholding that high net worth clients are willing to pay handsomely for. As you can see, this very fluid environment is creating winners and losers before your eyes…and it’s also creating the potential for new cost savings or growth opportunities for both you and your company. After months of researching and reporting this important trend, Business Insider Intelligence has put together an essential briefing that explains the new landscape, identifies the ripest areas for disruption, and highlights the some of the most exciting new companies. These new players have the potential to become the next Visa, Paypal or Charles Schwab because they have the potential to transform important areas of the financial services industry like: • Retail banking • Lending and Financing • Payments and Transfers • Wealth and Asset Management • Markets and Exchanges • Insurance • Blockchain Transactions If you work in any of these sectors, it’s important for you to understand how the fintech revolution will change your business and possibly even your career. And if you’re employed in any part of the digital economy, you’ll want to know how you can exploit these new technologies to make your employer more efficient, flexible and profitable. Among the big picture insights you’ll get from this new report, titledThe Fintech Ecosystem Report: Measuring the effects of technology on the entire financial services industry: • Why financial technology is so disruptive to financial services—it will soon change the nature of almost every financial activity, from banking to payments to wealth management. • The basic conflict will be between old firms and new—startups are re-imagining financial services processes from top to bottom, while incumbent financial services firms are trying to keep up with new products of their own. • Both sides face serious obstacles—traditional banks and financial services firms are investing heavily in innovation, but leveraging their investments is difficult with so much invested in legacy systems and profit centers. • Meanwhile, startups are struggling to navigate a rapidly-changing regulatory landscape and must scale up quickly with limited resources. • The blockchain is a wild card that could completely overhaul financial services. Both major banks and startups around the world are exploring the technology behind the blockchain, which stores and records Bitcoin transactions. This technology could lower the cost of many financial activities to near-zero and could wipe away many traditional banking activities completely. This exclusive report also: • Explains the main growth drivers of the exploding fintech ecosystem. • Frames the challenges and opportunities faced by incumbents and startups. • Breaks down global and regionalfintech investments, including which regions are the most significant and which are poised for the highest growth. • Reveals which two financial services are garnering the most investment, and are therefore likely to be transformed first and fastest by fintech • Explains why blockchain technology is critically important to banks and startups, and assesses which players stand to gain the most from it. • Explores the financial sectors facing disruption and breaks them down in terms of investments, vulnerabilities and growth opportunities. • And much more. The Fintech Ecosystem Report: Measuring the effects of technology on the entire financial services industryis how you get the full story on the fintech revolution. To get your copy of this invaluable guide to the fintech revolution, choose one of these options: 1. Subscribe to an ALL-ACCESS Membership with BI Intelligence and gain immediate access to this report AND over 100 other expertly researched deep-dive reports, subscriptions to all of our daily newsletters, and much more. >>START A MEMBERSHIP 2. Purchase the report and download it immediately from our research store. >>BUY THE REPORT The choice is yours. But however you decide to acquire this report, you’ve given yourself a powerful advantage in your understanding of the fast-moving world of financial technology. More From Business Insider • Microsoft brings IoT to the Edge • Microsoft is launching an Echo competitor • Domestic smartphone brands continue to outshine Apple in China \|\| Fintech could be bigger than ATMs, PayPal, and Bitcoin combined: This is a complimentary article from BI Intelligence, Business Insider's premium subscription service for business professionals.For more information about everything BI Intelligence has to offer, click here to learn more >> We’ve entered the most profound era of change for financial services companies since the 1970s brought us index mutual funds, discount brokers and ATMs. No firm is immune from the coming disruption and every company must have a strategy to harness the powerful advantages of the new financial technology (“fintech”) revolution. The battle already underway will create surprising winners and stunned losers among some of the most powerful names in the financial world: The most contentious conflicts (and partnerships) will be between startups that are completely reengineering decades-old practices, traditional power players who are furiously trying to adapt with their own innovations, and total disruption of established technology & processes: • Traditional Retail Banks vs. Online-Only Banks:Traditional retail banks provide a valuable service, but online-only banks can offer many of the same services with higher rates and lower fees • Traditional Lenders vs. Peer-to-Peer Marketplaces: P2P lending marketplaces are growing much faster than traditional lenders—only time will tell if the banks strategy of creating their own small loan networks will be successful • Traditional Asset Managers vs. Robo-Advisors: Robo-advisors likeBettermentoffer lower fees, lower minimums and solid returns to investors, but the much larger traditional asset managers are creating their own robo-products while providing the kind of handholding that high net worth clients are willing to pay handsomely for. As you can see, this very fluid environment is creating winners and losers before your eyes…and it’s also creating the potential for new cost savings or growth opportunities for both you and your company. After months of researching and reporting this important trend, Business Insider Intelligence has put together an essential briefing that explains the new landscape, identifies the ripest areas for disruption, and highlights the some of the most exciting new companies. These new players have the potential to become the next Visa, Paypal or Charles Schwab because they have the potential to transform important areas of the financial services industry like: • Retail banking • Lending and Financing • Payments and Transfers • Wealth and Asset Management • Markets and Exchanges • Insurance • Blockchain Transactions If you work in any of these sectors, it’s important for you to understand how the fintech revolution will change your business and possibly even your career. And if you’re employed in any part of the digital economy, you’ll want to know how you can exploit these new technologies to make your employer more efficient, flexible and profitable. Among the big picture insights you’ll get from this new report, titledThe Fintech Ecosystem Report: Measuring the effects of technology on the entire financial services industry: • Why financial technology is so disruptive to financial services—it will soon change the nature of almost every financial activity, from banking to payments to wealth management. • The basic conflict will be between old firms and new—startups are re-imagining financial services processes from top to bottom, while incumbent financial services firms are trying to keep up with new products of their own. • Both sides face serious obstacles—traditional banks and financial services firms are investing heavily in innovation, but leveraging their investments is difficult with so much invested in legacy systems and profit centers. • Meanwhile, startups are struggling to navigate a rapidly-changing regulatory landscape and must scale up quickly with limited resources. • The blockchain is a wild card that could completely overhaul financial services. Both major banks and startups around the world are exploring the technology behind the blockchain, which stores and records Bitcoin transactions. This technology could lower the cost of many financial activities to near-zero and could wipe away many traditional banking activities completely. This exclusive report also: • Explains the main growth drivers of the exploding fintech ecosystem. • Frames the challenges and opportunities faced by incumbents and startups. • Breaks down global and regionalfintech investments, including which regions are the most significant and which are poised for the highest growth. • Reveals which two financial services are garnering the most investment, and are therefore likely to be transformed first and fastest by fintech • Explains why blockchain technology is critically important to banks and startups, and assesses which players stand to gain the most from it. • Explores the financial sectors facing disruption and breaks them down in terms of investments, vulnerabilities and growth opportunities. • And much more. The Fintech Ecosystem Report: Measuring the effects of technology on the entire financial services industryis how you get the full story on the fintech revolution. To get your copy of this invaluable guide to the fintech revolution, choose one of these options: 1. Subscribe to an ALL-ACCESS Membership with BI Intelligence and gain immediate access to this report AND over 100 other expertly researched deep-dive reports, subscriptions to all of our daily newsletters, and much more. >>START A MEMBERSHIP 2. Purchase the report and download it immediately from our research store. >>BUY THE REPORT The choice is yours. But however you decide to acquire this report, you’ve given yourself a powerful advantage in your understanding of the fast-moving world of financial technology. More From Business Insider • Microsoft brings IoT to the Edge • Microsoft is launching an Echo competitor • Domestic smartphone brands continue to outshine Apple in China \|\| Fintech could be bigger than ATMs, PayPal, and Bitcoin combined: This is a complimentary article from BI Intelligence, Business Insider's premium subscription service for business professionals. For more information about everything BI Intelligence has to offer, click here to learn more >> We’ve entered the most profound era of change for financial services companies since the 1970s brought us index mutual funds, discount brokers and ATMs. No firm is immune from the coming disruption and every company must have a strategy to harness the powerful advantages of the new financial technology (“fintech”) revolution. The battle already underway will create surprising winners and stunned losers among some of the most powerful names in the financial world: The most contentious conflicts (and partnerships) will be between startups that are completely reengineering decades-old practices, traditional power players who are furiously trying to adapt with their own innovations, and total disruption of established technology & processes: Traditional Retail Banks vs. Online-Only Banks: Traditional retail banks provide a valuable service, but online-only banks can offer many of the same services with higher rates and lower fees Traditional Lenders vs. Peer-to-Peer Marketplaces : P2P lending marketplaces are growing much faster than traditional lenders—only time will tell if the banks strategy of creating their own small loan networks will be successful Traditional Asset Managers vs. Robo-Advisors : Robo-advisors like Betterment offer lower fees, lower minimums and solid returns to investors, but the much larger traditional asset managers are creating their own robo-products while providing the kind of handholding that high net worth clients are willing to pay handsomely for. As you can see, this very fluid environment is creating winners and losers before your eyes…and it’s also creating the potential for new cost savings or growth opportunities for both you and your company. After months of researching and reporting this important trend, Business Insider Intelligence has put together an essential briefing that explains the new landscape, identifies the ripest areas for disruption, and highlights the some of the most exciting new companies. These new players have the potential to become the next Visa, Paypal or Charles Schwab because they have the potential to transform important areas of the financial services industry like: Story continues Retail banking Lending and Financing Payments and Transfers Wealth and Asset Management Markets and Exchanges Insurance Blockchain Transactions If you work in any of these sectors, it’s important for you to understand how the fintech revolution will change your business and possibly even your career. And if you’re employed in any part of the digital economy, you’ll want to know how you can exploit these new technologies to make your employer more efficient, flexible and profitable. Among the big picture insights you’ll get from this new report, titled The Fintech Ecosystem Report : Measuring the effects of technology on the entire financial services industry : Why financial technology is so disruptive to financial services—it will soon change the nature of almost every financial activity, from banking to payments to wealth management. The basic conflict will be between old firms and new—startups are re-imagining financial services processes from top to bottom, while incumbent financial services firms are trying to keep up with new products of their own. Both sides face serious obstacles—traditional banks and financial services firms are investing heavily in innovation, but leveraging their investments is difficult with so much invested in legacy systems and profit centers. Meanwhile, startups are struggling to navigate a rapidly-changing regulatory landscape and must scale up quickly with limited resources. The blockchain is a wild card that could completely overhaul financial services. Both major banks and startups around the world are exploring the technology behind the blockchain, which stores and records Bitcoin transactions. This technology could lower the cost of many financial activities to near-zero and could wipe away many traditional banking activities completely. This exclusive report also: Explains the main growth drivers of the exploding fintech ecosystem. Frames the challenges and opportunities faced by incumbents and startups. Breaks down global and regional fintech investments , including which regions are the most significant and which are poised for the highest growth. Reveals which two financial services are garnering the most investment, and are therefore likely to be transformed first and fastest by fintech Explains why blockchain technology is critically important to banks and startups, and assesses which players stand to gain the most from it. Explores the financial sectors facing disruption and breaks them down in terms of investments, vulnerabilities and growth opportunities. And much more. The Fintech Ecosystem Report : Measuring the effects of technology on the entire financial services industry is how you get the full story on the fintech revolution. To get your copy of this invaluable guide to the fintech revolution, choose one of these options: Subscribe to an ALL-ACCESS Membership with BI Intelligence and gain immediate access to this report AND over 100 other expertly researched deep-dive reports, subscriptions to all of our daily newsletters, and much more. >> START A MEMBERSHIP Purchase the report and download it immediately from our research store. >> BUY THE REPORT The choice is yours. But however you decide to acquire this report, you’ve given yourself a powerful advantage in your understanding of the fast-moving world of financial technology. More From Business Insider Microsoft brings IoT to the Edge Microsoft is launching an Echo competitor Domestic smartphone brands continue to outshine Apple in China \|\| Here's why 21 is the most exciting bitcoin company right now: Before 21 Inc. had even put out a product,it had raised $121 million in venture funding—the most of any bitcoin company. It was unclear, for months, what 21 would actually do or make. But some of the biggest names in fintech funding, including Andreessen Horowitz, Khosla Ventures, and the Winklevoss brothers, were interested enough to invest. Then things started to move very quickly. In February, 21 released its first product—and it was hardware, a rarity among bitcoin companies. It was the 21 bitcoin computer, which allows for mining the cryptocurrency as well as building applications on top of the bitcoinblockchain, the open-source, decentralized ledger that underlies bitcoin. The computer, which runs on Raspberry Pi (a small, single-board programming computer launched in 2012), sells for $400 and is about the length of an iPhone. It attracted a lot of buzz and attention in the bitcoin world. Last week,at the bitcoin conference Consensus, 21 CEO Balaji Srinivasan, a partner at Andreessen Horowitz, moved the company’s purview forward again. He announced that the 21 software can now be installed on any Mac or Linux-compatible system (Windows is coming soon), and eventually will come to mobile phones. “Every computer is now a bitcoin computer,” he said. And this is why 21 is arguably the single most exciting bitcoin company right now. Most people on Wall Street, as well as regular, everyday investors (and Yahoo Finance readers like you) still don’t quite understand what bitcoin is, or why it matters. Many think it’s a scam or some kind of illegal tool for hackers. (The negative publicity around stories like the Silk Road trial didn’t help.) Srinivasan’s argument is: You don’t need to know what it is or how it works for it to be important to your digital life. He explains it this way to a layperson: “I ask people, ‘Do you use Linux?’ They’ll probably say no. But if you’re using Google.com, or Facebook.com, or Yahoo.com, you actually are using Linux, even if you don’t know it. So Linux is there, everywhere, it’s just behind the scenes, and it just sounds very technical because it solves problems for developers. And I think it’s going to be the same thing with bitcoin.” Srinivasan frames bitcoin as the next major “system resource” in computing, something that will be a key component in every computer, just like a hard drive, RAM, and bandwidth. Bitcoin, he says, can be the resource that computers trade with other computers (without you having to worry about it), creating a “machine economy.” Once a computer can send a small amount of money as part of its operating system, “it can effectively rent or sell resources to other computers,” Srinivasan says. That was the idea behind the bitcoin computer: “If you had 500 of these things, what could they do together?” So, whatcanthey do together? For starters, you could earn a small amount of money (yes, in bitcoin, but a wide range of platforms now existfor quickly converting bitcoin to U.S. dollars, if that’s what you’d prefer) every time you visit a certain URL. On stage at Consensus,Srinivasan described it thusly: "Every time you load a webpage is a HTTP request. That’s a lot of HTTP requests. If you are earning bitcoin on every HTTP request, that could be a lot of earned bitcoins." This could get exciting for media companies, in particular, with paywalls. For years, print newspapers and magazines have struggled with how to charge readers for access to their content online. Paywalls have only been successful for a select few publications, mostly because of the friction created by the moment when you, a reader in a hurry, have to enter your credit card information. In the future that 21 envisions, your computer could cough up a small fee on its own every time you visit a publication's web site, or even every time you want to read a single article. If this process could become truly seamless, it would have major implications for digital journalism as an alternate revenue stream from selling digital ads, which has severe flaws. But this doesn’t just apply to journalism. It's much, much bigger than that. On the machine web, where computers can accept and send small amounts of money instantly, there would no longer be a need to ever enter your credit card information online. The concept would improve the experience of shopping at Amazon or any other e-tailer, or sending a donation to a Kickstarter campaign, or any instance when you need to send money online. This, after all, has been the value proposition of bitcoin’s rails since its inception—cutting down on the usual transfer fees, delays, and general friction you face when sending money through banks. And 21's vision should be exciting to everyone, not just developers who understand bitcoin, or speculators who have bought bitcoin as an investment. It should be exciting to anyone who has ever sat at their computer, aggravated and impatient, filling out a credit card form online. “One way of thinking about it is, the 21 software makes bitcoin a part of your operating system,” Srinivasan says. “Over time, what we think that will do is increase demand for bitcoin as a resource.” Of course, the rah-rah-bitcoin train has slowed recently, on the whole, asbanks and big financial institutions have gone gaga over blockchainwithout bitcoin. But along with a handful ofother companies that are doubling down on the cryptocurrency, like Coinbase, Srinivasan and 21 are betting that it’s still the digital coin that will prove to be the major innovation—not closed, permissioned blockchains. Big business will eventually come around to bitcoin, Srinivasan insists. He compares it to online dating, which once had something of a stigma around it that, today, has all but disappeared. “It was like, it’s for nerds, it’s for nerds, it’s for nerds,” he says, “and then suddenly, oh, here’s Tinder, and now it’s totally flipped and normal and you’d be crazy not to date that way.” For now, to most of the mainstream economy, it’s still the bitcoin believers who look like the crazy ones. Srinivasan is just fine with that. Check back with Yahoo Finance later this summer, when we will test out what the 21 bitcoin computer can do in a follow-up story and video. -- Daniel Roberts is a writer at Yahoo Finance, covering technology and sports business. Follow him on Twitter at@readDanwrite. Read more: Coinbase is more bullish on bitcoin than ever How Circle aims to use blockchain to win the payment-app war How big banks are paying lip service to the blockchain Bitcoin's biggest investor just bought its biggest news site \|\| Here's why 21 is the most exciting bitcoin company right now: Before 21 Inc. had even put out a product, it had raised $121 million in venture funding —the most of any bitcoin company. It was unclear, for months, what 21 would actually do or make. But some of the biggest names in fintech funding, including Andreessen Horowitz, Khosla Ventures, and the Winklevoss brothers, were interested enough to invest. Then things started to move very quickly. In February, 21 released its first product—and it was hardware, a rarity among bitcoin companies. It was the 21 bitcoin computer, which allows for mining the cryptocurrency as well as building applications on top of the bitcoin blockchain, the open-source, decentralized ledger that underlies bitcoin . The computer, which runs on Raspberry Pi (a small, single-board programming computer launched in 2012), sells for $400 and is about the length of an iPhone. It attracted a lot of buzz and attention in the bitcoin world. The 21.co bitcoin computer Last week, at the bitcoin conference Consensus , 21 CEO Balaji Srinivasan, a partner at Andreessen Horowitz, moved the company’s purview forward again. He announced that the 21 software can now be installed on any Mac or Linux-compatible system (Windows is coming soon), and eventually will come to mobile phones. “Every computer is now a bitcoin computer,” he said. And this is why 21 is arguably the single most exciting bitcoin company right now. Most people on Wall Street, as well as regular, everyday investors (and Yahoo Finance readers like you) still don’t quite understand what bitcoin is, or why it matters. Many think it’s a scam or some kind of illegal tool for hackers. (The negative publicity around stories like the Silk Road trial didn’t help.) Srinivasan’s argument is: You don’t need to know what it is or how it works for it to be important to your digital life. He explains it this way to a layperson: “I ask people, ‘Do you use Linux?’ They’ll probably say no. But if you’re using Google.com, or Facebook.com, or Yahoo.com, you actually are using Linux, even if you don’t know it. So Linux is there, everywhere, it’s just behind the scenes, and it just sounds very technical because it solves problems for developers. And I think it’s going to be the same thing with bitcoin.” Story continues Srinivasan frames bitcoin as the next major “system resource” in computing, something that will be a key component in every computer, just like a hard drive, RAM, and bandwidth. Bitcoin, he says, can be the resource that computers trade with other computers (without you having to worry about it), creating a “machine economy.” Once a computer can send a small amount of money as part of its operating system, “it can effectively rent or sell resources to other computers,” Srinivasan says. That was the idea behind the bitcoin computer: “If you had 500 of these things, what could they do together?” So, what can they do together? For starters, you could earn a small amount of money (yes, in bitcoin, but a wide range of platforms now exist for quickly converting bitcoin to U.S. dollars , if that’s what you’d prefer) every time you visit a certain URL. On stage at Consensus, Srinivasan described it thusly : "Every time you load a webpage is a HTTP request. That’s a lot of HTTP requests. If you are earning bitcoin on every HTTP request, that could be a lot of earned bitcoins." This could get exciting for media companies, in particular, with paywalls. For years, print newspapers and magazines have struggled with how to charge readers for access to their content online. Paywalls have only been successful for a select few publications, mostly because of the friction created by the moment when you, a reader in a hurry, have to enter your credit card information. In the future that 21 envisions, your computer could cough up a small fee on its own every time you visit a publication's web site, or even every time you want to read a single article. If this process could become truly seamless, it would have major implications for digital journalism as an alternate revenue stream from selling digital ads, which has severe flaws. But this doesn’t just apply to journalism. It's much, much bigger than that. On the machine web, where computers can accept and send small amounts of money instantly, there would no longer be a need to ever enter your credit card information online. The concept would improve the experience of shopping at Amazon or any other e-tailer, or sending a donation to a Kickstarter campaign, or any instance when you need to send money online. This, after all, has been the value proposition of bitcoin’s rails since its inception—cutting down on the usual transfer fees, delays, and general friction you face when sending money through banks. And 21's vision should be exciting to everyone, not just developers who understand bitcoin, or speculators who have bought bitcoin as an investment. It should be exciting to anyone who has ever sat at their computer, aggravated and impatient, filling out a credit card form online. “One way of thinking about it is, the 21 software makes bitcoin a part of your operating system,” Srinivasan says. “Over time, what we think that will do is increase demand for bitcoin as a resource.” Of course, the rah-rah-bitcoin train has slowed recently, on the whole, as banks and big financial institutions have gone gaga over blockchain without bitcoin. But along with a handful of other companies that are doubling down on the cryptocurrency, like Coinbase , Srinivasan and 21 are betting that it’s still the digital coin that will prove to be the major innovation—not closed, permissioned blockchains. Big business will eventually come around to bitcoin, Srinivasan insists. He compares it to online dating, which once had something of a stigma around it that, today, has all but disappeared. “It was like, it’s for nerds, it’s for nerds, it’s for nerds,” he says, “and then suddenly, oh, here’s Tinder, and now it’s totally flipped and normal and you’d be crazy not to date that way.” For now, to most of the mainstream economy, it’s still the bitcoin believers who look like the crazy ones. Srinivasan is just fine with that. Check back with Yahoo Finance later this summer, when we will test out what the 21 bitcoin computer can do in a follow-up story and video. -- Daniel Roberts is a writer at Yahoo Finance, covering technology and sports business. Follow him on Twitter at @readDanwrite . Read more: Coinbase is more bullish on bitcoin than ever How Circle aims to use blockchain to win the payment-app war How big banks are paying lip service to the blockchain Bitcoin's biggest investor just bought its biggest news site \|\| How an early bitcoin leader is staying relevant in a blockchain frenzy: If you are interested in dipping a toe in the waters of the digital currency bitcoin, the easiest way is to buy some bitcoin, and arguably the best-known service for that is Coinbase. The company launched four years ago today, and was one of the earliest bitcoin wallets—that is, simply, a place to buy and hold bitcoin. By being early to the craze, Coinbase became one of the most recognizable and respected brands in the bitcoin industry, it raised nearly $107 million in venture capital (by far the most raised by any bitcoin startupuntil 21 Inc. came along), and its co-founders, Brian Armstrong and Fred Ehrsam, became influential names in the business. Lately, the narrative about the bitcoin world has shifted toblockchain, the decentralized, peer-to-peer, open-source technologythat powers bitcoin. (For an explainer, check out this video.) The idea of blockchain came about side-by-side with bitcoin in 2009, but now major banks and financial institutions are gaga over the idea of using blockchains to speed up their transaction processing—closed, private blockchains without bitcoin. Now some of the hottest startups that started out as “bitcoin companies” have subtly edged away from bitcoin in their marketing.Bitreserve, a cloud bank that allows you to hold funds in many different currencies, changed its name to Uphold;Circle, which started as a bitcoin payment app, added the ability to deposit funds in U.S. dollars, and no longer mention bitcoin on its home page. Many bitcoin companies are focusing on blockchain and working with new partners who, in many cases, have no interest in a volatile cryptocurrency. But Coinbase and its leaders are more bullish on bitcoin than ever. “I think the whole narrative of blockchain without bitcoin will amount to very little,” declares Fred Ehrsam. In an interview with Yahoo Finance duringthe big bitcoin conference Consensusthis month, Ehrsam compared the current craze over blockchain to corporations that rushed to create “intranets” in the early days of the Internet—they were closed networks, accessible only to one company’s employees. And while those still exist at some companies today, most people eventually realized that they didn’t need to create private corners of the Internet, because the large, open Internet is good enough. It is a popular comparison among bitcoin believers at the moment. Many people on the banking side of things, in visits with Yahoo Finance, have been dismissive of that dismissiveness. They see potential in blockchain technology to reduce friction in payments overseas, and maybe even speed the settlement of stock purchases. Ehrsam’s point is that the bitcoin blockchain can already do that. A former Goldman Sachs (GS) foreign exchange trader, Ehrsam brings financial chops to bitcoin, a world which many of the most fervent supporters got into because they are anti-banking and anti-government. Ehrsam has said he aims for Coinbase to be a Goldman Sachs of cryptocurrency. Some in bitcoin would say it’s already there. Coinbase has grown far beyond a mere bitcoin wallet: It has more than 2 million users; it is now operable in 32 countries; it recently launched the ability for U.S. customers to buy bitcoin instantly using a debit card (previously you had to link up a bank account and wait a few days, which was a nice illustration of the sluggishness of traditional banking); and most significantly, last year it launched an entirely new business: a bitcoin exchange. Coinbase has major competition among bitcoin exchanges. Many, many exchanges have sprung up in the past two years, includingone from the Winklevoss brothers, Gemini, which last year scored regulatory approvalfrom the New York Department of Financial Services to operate as a trust, and this month got new approval to add the ability for customers to trade Ether, a much-hyped alternative digital-currency to bitcoin. Coinbase, in contrast with Gemini, did not wait for regulatory approval in New York before launching. But a report just this week from Reuters suggeststhe NYDFS is set to grant Coinbase a BitLicenseanyway, which, if true, will certainly make Coinbase look like it was smart not to wait. After a little over one year in business, Coinbase says it has the most liquid bitcoin exchange in the U.S. Meanwhile, Ehrsam and Armstrong have become key voices in a wonky internal debate in the bitcoin world over whether to increase the block-size limit of bitcoin’s blockchain. In simplest terms, transactions are recorded on the blockchain in bundles called blocks, but the blockchain has slowed down recently under the weight of larger transactions. Some in bitcoin want to raise the limit to allow for larger blocks, while others don’t want bitcoin mining to get to a point where a personal laptop can’t handle the data. Ehrsam and Armstrong are in the former camp, and Armstronghas written publicly on the block size debate. To be sure, many titans of Wall Street are still certain that while blockchain technology is heating up, bitcoin, the currency, is on its way to the grave. JPMorgan (JPM) CEOJamie Dimon has called bitcoin "doomed."Nonetheless, Ehrsam is laser-focused on a business plan that depends on people like Dimon being very wrong. The value of bitcoin, by the way, is up 91% in the last year. -- Daniel Roberts is a writer at Yahoo Finance, covering technology and sports business.Follow him on Twitter at@readDanwrite. Read more: How big banks are paying lip service to the blockchain Here’s how you can invest in the blockchain Bitcoin's biggest investor just bought its biggest news site Here's a sign that PayPal is embracing Bitcoin \|\| How an early bitcoin leader is staying relevant in a blockchain frenzy: If you are interested in dipping a toe in the waters of the digital currency bitcoin, the easiest way is to buy some bitcoin, and arguably the best-known service for that is Coinbase. The company launched four years ago today, and was one of the earliest bitcoin walletsthat is, simply, a place to buy and hold bitcoin. By being early to the craze, Coinbase became one of the most recognizable and respected brands in the bitcoin industry, it raised nearly $107 million in venture capital (by far the most raised by any bitcoin startup until 21 Inc. came along ), and its co-founders, Brian Armstrong and Fred Ehrsam, became influential names in the business. Lately, the narrative about the bitcoin world has shifted to blockchain, the decentralized, peer-to-peer, open-source technology that powers bitcoin. ( For an explainer, check out this video .) The idea of blockchain came about side-by-side with bitcoin in 2009, but now major banks and financial institutions are gaga over the idea of using blockchains to speed up their transaction processingclosed, private blockchains without bitcoin. Now some of the hottest startups that started out as bitcoin companies have subtly edged away from bitcoin in their marketing. Bitreserve, a cloud bank that allows you to hold funds in many different currencies , changed its name to Uphold; Circle, which started as a bitcoin payment app, added the ability to deposit funds in U.S. dollars , and no longer mention bitcoin on its home page. Many bitcoin companies are focusing on blockchain and working with new partners who, in many cases, have no interest in a volatile cryptocurrency. But Coinbase and its leaders are more bullish on bitcoin than ever. I think the whole narrative of blockchain without bitcoin will amount to very little, declares Fred Ehrsam. In an interview with Yahoo Finance during the big bitcoin conference Consensus this month, Ehrsam compared the current craze over blockchain to corporations that rushed to create intranets in the early days of the Internetthey were closed networks, accessible only to one companys employees. And while those still exist at some companies today, most people eventually realized that they didnt need to create private corners of the Internet, because the large, open Internet is good enough. Story continues It is a popular comparison among bitcoin believers at the moment. Many people on the banking side of things, in visits with Yahoo Finance, have been dismissive of that dismissiveness. They see potential in blockchain technology to reduce friction in payments overseas, and maybe even speed the settlement of stock purchases. Ehrsams point is that the bitcoin blockchain can already do that. A former Goldman Sachs ( GS ) foreign exchange trader, Ehrsam brings financial chops to bitcoin, a world which many of the most fervent supporters got into because they are anti-banking and anti-government. Ehrsam has said he aims for Coinbase to be a Goldman Sachs of cryptocurrency. Some in bitcoin would say its already there. Coinbase has grown far beyond a mere bitcoin wallet: It has more than 2 million users; it is now operable in 32 countries; it recently launched the ability for U.S. customers to buy bitcoin instantly using a debit card (previously you had to link up a bank account and wait a few days, which was a nice illustration of the sluggishness of traditional banking); and most significantly, last year it launched an entirely new business: a bitcoin exchange. Coinbase has major competition among bitcoin exchanges. Many, many exchanges have sprung up in the past two years, including one from the Winklevoss brothers, Gemini, which last year scored regulatory approval from the New York Department of Financial Services to operate as a trust, and this month got new approval to add the ability for customers to trade Ether, a much-hyped alternative digital-currency to bitcoin. Coinbase, in contrast with Gemini, did not wait for regulatory approval in New York before launching. But a report just this week from Reuters suggests the NYDFS is set to grant Coinbase a BitLicense anyway, which, if true, will certainly make Coinbase look like it was smart not to wait. After a little over one year in business, Coinbase says it has the most liquid bitcoin exchange in the U.S. Meanwhile, Ehrsam and Armstrong have become key voices in a wonky internal debate in the bitcoin world over whether to increase the block-size limit of bitcoins blockchain. In simplest terms, transactions are recorded on the blockchain in bundles called blocks, but the blockchain has slowed down recently under the weight of larger transactions. Some in bitcoin want to raise the limit to allow for larger blocks, while others dont want bitcoin mining to get to a point where a personal laptop cant handle the data. Ehrsam and Armstrong are in the former camp, and Armstrong has written publicly on the block size debate . To be sure, many titans of Wall Street are still certain that while blockchain technology is heating up, bitcoin, the currency, is on its way to the grave. JPMorgan ( JPM ) CEO Jamie Dimon has called bitcoin "doomed." Nonetheless, Ehrsam is laser-focused on a business plan that depends on people like Dimon being very wrong. The value of bitcoin, by the way, is up 91% in the last year. -- Daniel Roberts is a writer at Yahoo Finance, covering technology and sports business. Follow him on Twitter at @readDanwrite . Read more: How big banks are paying lip service to the blockchain Heres how you can invest in the blockchain Bitcoin's biggest investor just bought its biggest news site Here's a sign that PayPal is embracing Bitcoin \|\| Leon Cooperman Thinks The Hedge Fund Industry Is Under Attack: Hedge fund titan and CEO of Omega Advisors, Leon Cooperman, is concerned about the hedge fund industry's current environment. He is quoted as having warned, "The hedge-fund model is under challenge. It's under assault," according to a report on the Wall Street Journal. The report said Cooperman was even considering whether it was worth running hedge funds at all. The report recalled the March announcement from Omega Advisors that "U.S. regulators intend to recommend civil charges against the firm for alleged violations of securities law." Cooperman has denied any misconduct, saying he "would defend himself and the firm." Many investors are withdrawing money from the hedge funds, as the tepid market environment makes it tough for them to deliver desired returns that don't commensurate with the high service fees charged. Related Link: Is The Hedge Fund Industry's "Midas Touch" Dwindling? The WSJ report said hedge funds typically charge higher fees than other money managers, usually 2 percent of assets under management and 20 percent of profits. "[F]ees are too high. I'm surprised they've stayed this high for this long," the report said quoting James Chanos, a prominent manager. Meanwhile, the report added that big investors are pulling money from hedge-fund bets and investing into other non-traditional assets such as private equity, real estate, toll roads and bridges. "Others are migrating to cheaper alternatives that mimic the strategies of hedge funds but at significantly lower cost," the report highlighted. "Total global hedge fund capital declined to $2.86 trillion in the first quarter, including investor outflows of $15.1 billion marking not only the largest quarterly outflow since the second quarter of 2009, but also the first consecutive quarters of outflows since 2009," according to a press release from Hedge Fund Research. See more from Benzinga Richmond Fed Describes Its Role In Designing New Bill Can Bitcoin Resolve Central Bank Woes? Feel The Bern Burn? Analyst Says Sanders Presidency Would Add Trillion To National Deficit © 2016 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. \|\| Leon Cooperman Thinks The Hedge Fund Industry Is Under Attack: Hedge fund titan and CEO of Omega Advisors, Leon Cooperman, is concerned about the hedge fund industry's current environment. He is quoted as having warned, "The hedge-fund model is under challenge. It's under assault," according to a report onthe Wall Street Journal. The report said Cooperman was even considering whether it was worth running hedge funds at all. The report recalled the March announcement from Omega Advisors that "U.S. regulators intend to recommend civil charges against the firm for alleged violations of securities law." Cooperman has denied any misconduct, saying he "would defend himself and the firm." Many investors are withdrawing money from the hedge funds, as the tepid market environment makes it tough for them to deliver desired returns that don't commensurate with the high service fees charged. Related Link:Is The Hedge Fund Industry's "Midas Touch" Dwindling? The WSJ report said hedge funds typically charge higher fees than other money managers, usually 2 percent of assets under management and 20 percent of profits. "[F]ees are too high. I'm surprised they've stayed this high for this long," the report said quoting James Chanos, a prominent manager. Meanwhile, the report added that big investors are pulling money from hedge-fund bets and investing into other non-traditional assets such as private equity, real estate, toll roads and bridges. "Others are migrating to cheaper alternatives that mimic the strategies of hedge funds but at significantly lower cost," the report highlighted. "Total global hedge fund capital declined to $2.86 trillion in the first quarter, including investor outflows of $15.1 billion marking not only the largest quarterly outflow since the second quarter of 2009, but also the first consecutive quarters of outflows since 2009," according to apress releasefrom Hedge Fund Research. See more from Benzinga • Richmond Fed Describes Its Role In Designing New Bill • Can Bitcoin Resolve Central Bank Woes? • Feel The Bern Burn? Analyst Says Sanders Presidency Would Add Trillion To National Deficit © 2016 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. \|\| Disney, Apple may not stop the bleeding: Traders: Dow(Dow Jones Global Indexes: .DJI)titans Walt Disney(NYSE: DIS)and Apple(NASDAQ: AAPL)have lost momentum recently, and "Fast Money" traders debated whether their stocks had any pop left. Disney shares slid 4 percent Wednesday after the media giantmissed estimates for quarterly profit and sales. Apple, meanwhile, has shed 12 percent of its value this year, partly afterdisappointing earnings and guidance. Traders discussed the stocks' merit. Disney Trader Guy Adami said he would not sell Disney, yet. Trader Karen Finerman added she does not "like the Disney risk-reward here," citing uncertainty about its ESPN sports network and who will succeed CEO Bob Iger when his contract expires in 2018. Apple Apple has struggled lately, and concerns about sales of its flagship iPhone have weighed on shares. The stock has fallen nearly 27 percent in the last year. "Why not short it here?" Adami asked. Trader Tim Seymour, though, said he bought Apple shares last week amid weakness. He highlighted the company's services revenue as a "small but bright spot." Finerman added she preferred both Facebook(NASDAQ: FB)and Alphabet(NASDAQ: GOOGL)to either stock. She owns shares of both technology companies. Disclosures: Guy Adami Guy Adami is long CELG, EXAS, GDX, INTC, Guy Adami's wife, Linda Snow, works at Merck. Karen Finerman Karen is long BAC, C, DRII, DRII calls, FB, FL, GOOG, GOOGL, JPM, LYV, KORS, M, MA, SEDG, SPY puts, URI. Her firm is long ANTM, AAPL, BAC, C, C calls, DRII, DRII calls, FB, GOOG, GOOGL, JPM, JPM calls, KORS, LYV, M, MOH, PLCE, SPY puts, URI, her firm is short IWM, MDY. Karen Finerman is on the board of GrafTech International. Brian Kelly Brian Kelly is long BBRY, Bitcoin, GLD, US Dollar; he is short Australian Dollar, BLK, CS, DB, Euro, EWA, EWH, FRC, Hong Kong Dollar, UBS, Yuan, 5-Year Note Futures Tim Seymour Tim Seymour is long AAPL, AVP, BAC, BBRY, CLF, DO, EDC, EWZ, F, FCX, FXI, GM, GOOGL, GRMN, GE, GLNCY, INTC, LQD, MCD, MPEL, NKE, RACE, RAI, RL, SINA, T, TWTR, UA, VALE, VZ, XOM. Tim's firm is long BABA, BIDU, CLF, EWZ, F, HD, KO, MCD, MPEL, NKE, PEP, PF, SAVE, SBUX, SINA, VALE, VIAB, WMT, WEN, YHOO, short HYG, IWM, WYNN More From CNBC • Top News and Analysis • Latest News Video • Personal Finance \|\| Disney, Apple may not stop the bleeding: Traders: Dow (Dow Jones Global Indexes: .DJI) titans Walt Disney (NYSE: DIS) and Apple (NASDAQ: AAPL) have lost momentum recently, and "Fast Money" traders debated whether their stocks had any pop left. Disney shares slid 4 percent Wednesday after the media giant missed estimates for quarterly profit and sales . Apple, meanwhile, has shed 12 percent of its value this year, partly after disappointing earnings and guidance . Traders discussed the stocks' merit. Disney Trader Guy Adami said he would not sell Disney, yet. Trader Karen Finerman added she does not "like the Disney risk-reward here," citing uncertainty about its ESPN sports network and who will succeed CEO Bob Iger when his contract expires in 2018. Apple Apple has struggled lately, and concerns about sales of its flagship iPhone have weighed on shares. The stock has fallen nearly 27 percent in the last year. "Why not short it here?" Adami asked. Trader Tim Seymour, though, said he bought Apple shares last week amid weakness. He highlighted the company's services revenue as a "small but bright spot." Finerman added she preferred both Facebook (NASDAQ: FB) and Alphabet (NASDAQ: GOOGL) to either stock. She owns shares of both technology companies. Disclosures: Guy Adami Guy Adami is long CELG, EXAS, GDX, INTC, Guy Adami's wife, Linda Snow, works at Merck. Karen Finerman Karen is long BAC, C, DRII, DRII calls, FB, FL, GOOG, GOOGL, JPM, LYV, KORS, M, MA, SEDG, SPY puts, URI. Her firm is long ANTM, AAPL, BAC, C, C calls, DRII, DRII calls, FB, GOOG, GOOGL, JPM, JPM calls, KORS, LYV, M, MOH, PLCE, SPY puts, URI, her firm is short IWM, MDY. Karen Finerman is on the board of GrafTech International. Brian Kelly Brian Kelly is long BBRY, Bitcoin, GLD, US Dollar; he is short Australian Dollar, BLK, CS, DB, Euro, EWA, EWH, FRC, Hong Kong Dollar, UBS, Yuan, 5-Year Note Futures Tim Seymour Tim Seymour is long AAPL, AVP, BAC, BBRY, CLF, DO, EDC, EWZ, F, FCX, FXI, GM, GOOGL, GRMN, GE, GLNCY, INTC, LQD, MCD, MPEL, NKE, RACE, RAI, RL, SINA, T, TWTR, UA, VALE, VZ, XOM. Tim's firm is long BABA, BIDU, CLF, EWZ, F, HD, KO, MCD, MPEL, NKE, PEP, PF, SAVE, SBUX, SINA, VALE, VIAB, WMT, WEN, YHOO, short HYG, IWM, WYNN More From CNBC Top News and Analysis Latest News Video Personal Finance \|\| Billionaire VC Tim Draper wants 9 months and $40,000 to turn you into the next Steve Jobs, starting with military survival training: (Business Insider)Tim Draper. If you are between 18 and 28, famous billionaire venture capitalist Tim Draper has a plan to turn you into the "next Steve Jobs." That's why he launched aschool for young, would-beentrepreneurscalled Draper University of Heroes, he tells Business Insider, which he turned into a reality TV show last year. The show, "Startup U," failed to attract an audience, wasdropped from prime time, and there'sno word yetif ABC will renew it or not. But even if students won't appear on TV, Draper has a new plan for the school. He just added a new nine-month program to the curriculum, starting in the fall, which he views as an alternative to a master's degree. This is in addition to the school's classic two months of "hero training" offered since it launched three years ago. There's a reason he calls it hero training. Before you can become the next Steve Jobs, you have to learn to be tough. Navy SEAL tough. Hero training includes "four days of survival training with military teams. We have Navy SEAL special forces and Army Rangers that take them to real survival training," Draper says. (Athit Perawongmetha/REUTERS) Once students have spent those days foraging for food and shelter in the wilderness, the next step is city survival training, challenges that sound like what Donald Trump gave to contestants on his reality show, "The Apprentice." "There's another couple of days in the two months of hero training that's Urban Survival training," Draper says. Students have to go out and "sell something embarrassing, or go to San Francisco and come back with a job offer, on paper, in 24 hours." That job offer gives them the confidence that they can always quickly get a position, he says. As Draper says, "How to create a Steve Jobs? It's a way of thinking." The school admits people "that have that spark and we create an environment that ignites that spark." Once the students have learned how to survive, they are ready to learn about the tech industry — Draper U-style. The nine-month program will include learning about the newest, buzziest technologies. (Tim Neely/ABC Family)Tim Draper surrounded by students in the "Startup U" reality TV show. Although every class has a different curriculum, Draper says, students might explore Bitcoin — which Draper loves — learn design, and use the newest programming languages to build an app, or maybe a robot. They'll also draft a business plan, turn that plan into a pitch deck, and turn the pitch deck into a two-minute presentation and pitch it to "between 30 and 50 VCs," including himself, he says. He's dedicated a $1 million fund to invest seed money in startup ideas from the class, too, he says. But it's not a scholarship program. The two-month hero training costs $12,000. The full nine-month program costs $40,000, Draper tells us. Draper calls it an alternative to traditional school. That's important: This is not an accredited school. Students who finish the program do not earn an accredited degree. Just to compare, many accredited universities charge about $40,000 to earn a bona fide master's degree. Draper U has been controversial in its three years. While some students have posted glowingreviews of it on Yelp, some have given itbad reviews. Draper says, "We definitely get mixed reviews. Our training is not for everybody." AndThe Verge's Russell Brandom once called the school a BA in BS. But Draper points to the alumni success stories as proof of the school's value. Draper U has had over 500 alumni from 53 countries who have created 200 startups and landed a total of $22 million in funding, he says. He points to businesses like biomedical startup nVision and conference-tech firm Loopd as examples of alumni startups that got funding. Not that Draper is worried about controversy. He has come up witha plan to turn California into six states,offered to make a large charitable donation if people watched his reality TV show,and bought a huge stash of Bitcoin auctioned by the government after seizing black-market site Silk Road and is fond ofmaking large public bets. NOW WATCH:Meet the founder of a hot fintech startup that an old-line insurance company paid $250 million to buy More From Business Insider • This VC thinks Apple CEO Tim Cook is like 'human Ambien' • Go inside a venture capitalist's $26 million townhouse • The billionaire who wanted to split California into 6 states now has a crazy plan to give everyone $15,000 \|\| Billionaire VC Tim Draper wants 9 months and $40,000 to turn you into the next Steve Jobs, starting with military survival training: Tim Draper (Business Insider) Tim Draper. If you are between 18 and 28, famous billionaire venture capitalist Tim Draper has a plan to turn you into the "next Steve Jobs." That's why he launched a school for young, would-be entrepreneurs called Draper University of Heroes, he tells Business Insider, which he turned into a reality TV show last year. The show, "Startup U," failed to attract an audience, was dropped from prime time , and there's no word yet if ABC will renew it or not. But even if students won't appear on TV, Draper has a new plan for the school. He just added a new nine-month program to the curriculum, starting in the fall, which he views as an alternative to a master's degree. This is in addition to the school's classic two months of "hero training" offered since it launched three years ago. There's a reason he calls it hero training. Before you can become the next Steve Jobs, you have to learn to be tough. Navy SEAL tough. Days of survival training Hero training includes "four days of survival training with military teams. We have Navy SEAL special forces and Army Rangers that take them to real survival training," Draper says. survival training jungle (Athit Perawongmetha/REUTERS) Once students have spent those days foraging for food and shelter in the wilderness, the next step is city survival training, challenges that sound like what Donald Trump gave to contestants on his reality show, "The Apprentice." "There's another couple of days in the two months of hero training that's Urban Survival training," Draper says. Students have to go out and "sell something embarrassing, or go to San Francisco and come back with a job offer, on paper, in 24 hours." That job offer gives them the confidence that they can always quickly get a position, he says. As Draper says, "How to create a Steve Jobs? It's a way of thinking." The school admits people "that have that spark and we create an environment that ignites that spark." $12,000 to $40,000 Once the students have learned how to survive, they are ready to learn about the tech industry Draper U-style. The nine-month program will include learning about the newest, buzziest technologies. Story continues Tim Draper Startup U (Tim Neely/ABC Family) Tim Draper surrounded by students in the "Startup U" reality TV show. Although every class has a different curriculum, Draper says, students might explore Bitcoin which Draper loves learn design, and use the newest programming languages to build an app, or maybe a robot. They'll also draft a business plan, turn that plan into a pitch deck, and turn the pitch deck into a two-minute presentation and pitch it to "between 30 and 50 VCs," including himself, he says. He's dedicated a $1 million fund to invest seed money in startup ideas from the class, too, he says. But it's not a scholarship program. The two-month hero training costs $12,000. The full nine-month program costs $40,000, Draper tells us. Draper calls it an alternative to traditional school. That's important: This is not an accredited school. Students who finish the program do not earn an accredited degree. Just to compare, many accredited universities charge about $40,000 to earn a bona fide master's degree. Draper defends his school Draper U has been controversial in its three years. While some students have posted glowing reviews of it on Yelp , some have given it bad reviews . Draper says, "We definitely get mixed reviews. Our training is not for everybody." And The Verge's Russell Brandom once called the school a BA in BS . But Draper points to the alumni success stories as proof of the school's value. Draper U has had over 500 alumni from 53 countries who have created 200 startups and landed a total of $22 million in funding, he says. He points to businesses like biomedical startup nVision and conference-tech firm Loopd as examples of alumni startups that got funding. Not that Draper is worried about controversy. He has come up with a plan to turn California into six states , offered to make a large charitable donation if people watched his reality TV show, and bought a huge stash of Bitcoin auctioned by the government after seizing black-market site Silk Road and is fond of making large public bets . NOW WATCH: Meet the founder of a hot fintech startup that an old-line insurance company paid $250 million to buy More From Business Insider This VC thinks Apple CEO Tim Cook is like 'human Ambien' Go inside a venture capitalist's $26 million townhouse The billionaire who wanted to split California into 6 states now has a crazy plan to give everyone $15,000 \|\| Richmond Fed Describes Its Role In Designing New $20 Bill: While by now many are aware Harriet Tubman's likeness will replace that of Andrew Jackson on the new $20 bill, however, what is less circulated is the role the Currency Technology Office (CTO) at the Richmond Fed will play in minting the new money. The CTO is working closely with the U.S. Department of the Treasury's Bureau of Engraving and Printing and the Federal Reserve System's Board of Governors to define machine-readable security features for the new notes. The CTO, which is the technical arm of the Fed's Cash Product Office (CPO), assists in testing how new bills run on the Federal Reserve's high-speed currency processing environment, including effectiveness of reading security features that are visible and invisible to the naked eye. Related Link: Insider: Federal Reserve Process Is Broken And Has Been For A While Highly Sophisticated, Anti-Counterfeit Technology According to Kiran Krishnamurthy, Federal Reserve Bank of Richmond writer, "These high-speed machine inspections are one way the Federal Reserve inspects currency to detect counterfeit notes and helps ensure currency is fit for circulation." "We have to determine what the public and private security features in the bills will do when they're on our machines," Richmond Fed Senior Vice President Roland Costa said in a press release. Costa, who leads the CTO, cited an example, saying if a security feature is too shiny, it "could 'blind' the optical scanner on a high-speed currency processor." In order to determine whether an individual note is still fit for circulation or should be destroyed, the machine evaluates "152 fitness characteristics in a mere 0.025 seconds or less and with a 0.35 percent rejection rate across all denominations." Costa noted preparation and testing for new designs is likely to be more complex than in the past, "because the notes will include tactile features for the visually impaired for the first time." What's Next? In April, U.S. Treasury Secretary Jacob Lew said the new $10 note is up next; he has instructed the Bureau of Engraving and Printing to work in tandem with the Federal Reserve to speed up the process for the $20 bill and the $5 bill. "We anticipate that final concept designs for the new $20, $10, and $5 notes will all be unveiled in 2020 in conjunction with the 100th anniversary of the 19th Amendment, which granted women the right to vote," Costa added. See more from Benzinga Can Bitcoin Resolve Central Bank Woes? Feel The Bern Burn? Analyst Says Sanders Presidency Would Add Trillion To National Deficit Beyoncé Invests In Watermelon Water Company © 2016 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. View comments \|\| Richmond Fed Describes Its Role In Designing New $20 Bill: While by now many are aware Harriet Tubman's likenesswill replacethat of Andrew Jackson on the new $20 bill, however, what is less circulated is the role the Currency Technology Office (CTO) at the Richmond Fed will play in minting the new money. The CTO is working closely with the U.S. Department of the Treasury's Bureau of Engraving and Printing and the Federal Reserve System's Board of Governors to define machine-readable security features for the new notes. The CTO, which is the technical arm of the Fed's Cash Product Office (CPO), assists in testing how new bills run on the Federal Reserve's high-speed currency processing environment, including effectiveness of reading security features that are visible and invisible to the naked eye. Related Link:Insider: Federal Reserve Process Is Broken And Has Been For A While Highly Sophisticated, Anti-Counterfeit Technology According to Kiran Krishnamurthy, Federal Reserve Bank of Richmond writer, "These high-speed machine inspections are one way the Federal Reserve inspects currency to detect counterfeit notes and helps ensure currency is fit for circulation." "We have to determine what the public and private security features in the bills will do when they're on our machines," Richmond Fed Senior Vice President Roland Costa said in a press release. Costa, who leads the CTO, cited an example, saying if a security feature is too shiny, it "could 'blind' the optical scanner on a high-speed currency processor." In order to determine whether an individual note is still fit for circulation or should be destroyed, the machine evaluates "152 fitness characteristics in a mere 0.025 seconds or less and with a 0.35 percent rejection rate across all denominations." Costa noted preparation and testing for new designs is likely to be more complex than in the past, "because the notes will include tactile features for the visually impaired for the first time." What's Next? In April, U.S. Treasury Secretary Jacob Lew said the new $10 note is up next; he has instructed the Bureau of Engraving and Printing to work in tandem with the Federal Reserve to speed up the process for the $20 bill and the $5 bill. "We anticipate that final concept designs for the new $20, $10, and $5 notes will all be unveiled in 2020 in conjunction with the 100th anniversary of the 19th Amendment, which granted women the right to vote," Costa added. See more from Benzinga • Can Bitcoin Resolve Central Bank Woes? • Feel The Bern Burn? Analyst Says Sanders Presidency Would Add Trillion To National Deficit • Beyoncé Invests In Watermelon Water Company © 2016 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. \|\| Rocky Mountain Ayre to Launch Crypto-Currency Marketplace: DOVER, DE--(Marketwired - May 10, 2016) - Rocky Mountain Ayre, Inc., a holding company ( OTC PINK : RMTN ) is pleased to announce that it is ready to launch a brand new feature to its Hempcoin website ( www.hempcoin.com ). Hempcoin has developed the first of its kind Crypto-Currency marketplace for goods and services to be offered and purchased using Bitcoin and Hempcoin as the sole means of payment. Users can now offer goods and services for sale on Hempcoin crypto marketplace and get paid with Bitcoin or Hempcoin. The price of the listed products or services in BTC or HMP implicitly changes according to the current rate on the exchanges. This can potentially protect sellers from loss and buyers from over paying due to the constant market price fluctuation of the Crypto- Currencies. Users can also transfer Bitcoin or Hempcoin between each other within seconds without the need to pay any exchange fees. It is a very secure and easy to use. Hempcoin currently trades on two Crypto-Currency exchanges, C-Cex and Yobit , and plans on adding several more in the near future. About Hempcoin Hempcoin (HMP) runs on its own peer-to-peer blockchain like Bitcoin (BTC) but at a faster rate because it is using the script technique like LiteCoin. So in addition to having the advantage of being able to move HMP around faster than BTC, HMP is backed by the marketable securities of RMTN. BTC is strictly a fiat currency like the US Dollar, however, BTC has the potential to go up in value against the Dollar because of supply and demand factors and HMP has this same built in advantage because unlike the Dollar, both BTC and HMP have a limited amount of coins in circulation, while the Dollar is ever increasing in supply. About Rocky Mountain, Inc. Rocky Mountain Ayre, is a publicly traded company listed on the OTCmarkets under the "RMTN" trading symbol. It is a holding company increasing its asset and revenue base through acquisition and/or creation of operating entities. The Company currently has two entities in its portfolio and is focusing its efforts on its Crypto-Currency, Hempcoin, at this time. Safe Harbor Statement This Press Release may contain certain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. The Company has tried, whenever possible, to identify these forward-looking statements using words such as "anticipates," "believes," "estimates," "expects," "plans," "intends," "potential" and similar expressions. These statements reflect the Company's current beliefs and are based upon information currently available to it. Accordingly, such forward-looking statements involve known and unknown risks, uncertainties and other factors which could cause the Company's actual results, performance or achievements to differ materially from those expressed in or implied by such statements. The Company undertakes no obligation to update or advise in the event of any change, addition or alteration to the information catered in this Press Release including such forward-looking statements. \|\| Rocky Mountain Ayre to Launch Crypto-Currency Marketplace: DOVER, DE--(Marketwired - May 10, 2016) - Rocky Mountain Ayre, Inc., a holding company (OTC PINK:RMTN) is pleased to announce that it is ready to launch a brand new feature to its Hempcoin website (www.hempcoin.com). Hempcoin has developed the first of its kind Crypto-Currency marketplace for goods and services to be offered and purchased using Bitcoin and Hempcoin as the sole means of payment. Users can now offer goods and services for sale on Hempcoin crypto marketplace and get paid with Bitcoin or Hempcoin. The price of the listed products or services in BTC or HMP implicitly changes according to the current rate on the exchanges. This can potentially protect sellers from loss and buyers from over paying due to the constant market price fluctuation of the Crypto- Currencies. Users can also transfer Bitcoin or Hempcoin between each other within seconds without the need to pay any exchange fees. It is a very secure and easy to use. Hempcoin currently trades on two Crypto-Currency exchanges,C-CexandYobit, and plans on adding several more in the near future. About Hempcoin Hempcoin (HMP) runs on its own peer-to-peer blockchain like Bitcoin (BTC) but at a faster rate because it is using the script technique like LiteCoin. So in addition to having the advantage of being able to move HMP around faster than BTC, HMP is backed by the marketable securities of RMTN. BTC is strictly a fiat currency like the US Dollar, however, BTC has the potential to go up in value against the Dollar because of supply and demand factors and HMP has this same built in advantage because unlike the Dollar, both BTC and HMP have a limited amount of coins in circulation, while the Dollar is ever increasing in supply. About Rocky Mountain, Inc. Rocky Mountain Ayre, is a publicly traded company listed on the OTCmarkets under the "RMTN" trading symbol. It is a holding company increasing its asset and revenue base through acquisition and/or creation of operating entities. The Company currently has two entities in its portfolio and is focusing its efforts on its Crypto-Currency, Hempcoin, at this time. Safe Harbor Statement This Press Release may contain certain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. The Company has tried, whenever possible, to identify these forward-looking statements using words such as "anticipates," "believes," "estimates," "expects," "plans," "intends," "potential" and similar expressions. These statements reflect the Company's current beliefs and are based upon information currently available to it. Accordingly, such forward-looking statements involve known and unknown risks, uncertainties and other factors which could cause the Company's actual results, performance or achievements to differ materially from those expressed in or implied by such statements. The Company undertakes no obligation to update or advise in the event of any change, addition or alteration to the information catered in this Press Release including such forward-looking statements. \|\| The Market In 5 Minutes: Better Late Than Never: Below is a tool used by the Benzinga News Desk each trading day -- it's a look at everything happening in the market, in five minutes.Apply for daily AM access by clicking hereor email [email protected]. Macros Focus Oil prices also ticked higher Tuesday morning as Brent crude futures gained $0.75 to trade at $44.38 per barrel and U.S. crude futures gained $0.45 to trade at $43.89 a barrel. Asian stocks weremostly higheron Tuesday, led by a 2.15 percent gain in Japan's Nikkei index. Japan's Finance Minister Taro Aso said the government is prepared to intervene in the currency market if the nation's currency begins to hurt the economy. President Barack Obama will become the first sitting U.S. presidentto visit Hiroshima, as well as Japan after the conclusion of the G-7 Summit later this month. Turnover on Chinese commodity exchanges surged by $183 billion. AsBloomberg reports, traders are starting to withdraw as government deters speculation. MarketWatch posteda pretty interesting look at two centuries of U.S. immigration in "one mesmerizing graphic." BZ News Desk Some of last night's and this morning's notable earnings report: SolarCity(NASDAQ:SCTY) Reports Q1 Adj. EPS $(2.56) vs $(2.31) Est. Q1 Sales $122.57M vs $108M Est.Rackspace(NYSE:RAX) Reports Q1 Adj. EPS $0.34 vs $0.22 Est., Sales $518.1M vs $519M Est.WWE(NYSE:WWE) Reports Q1 EPS $0.18 vs $0.10 Est., Sales $171M vs $170.6M Est.; Sees Q2 Average Paid Subs ~1.5M, Adj. OIBDA $5M-$9MSodaStream(NASDAQ:SODA) Reports Q1 EPS $0.29 vs. Est. $0.11, Rev. $100.9M vs. Est. $89M After today's closing bell,Disney(NYSE:DIS) is the one to keep an eye on. CNBC pundits recently discussed if investors are overreacting to the company's ESPN segmentation loss. Find out what's going on in today's market and bring any questions you have to Benzinga's PreMarket Prep. Sell-Side Themes The Street was buzzing about SolarCity's and LendingClub's 20+ percent drops. Check Benzinga throughout the day for more analysis. Sell-Side's Most Noteworthy Calls SunTrust downgradesSt. Jude(NYSE:STJ) to Neutral. Topeka downgradesGap(NYSE:GPS) to Hold. Piper Jaffray cutHasbro(NASDAQ:HAS) to Neutral. Jefferies startedJC Penney(NYSE:JCP) at Hold. Piper Jaffray initiates coverage onKroger(NYSE:KR) at Underweight. Bank of America upgradesDover(NYSE:DOV) to Buy. Deal Talk Recode scoop: The second round of bidders in the sale ofYahoo(NASDAQ:YHOO) have begun holding all-day meetings with Yahoo's top management, including CEO Marissa Mayer, who has been taking front and center stage of the proceedings, according to sources. Long meetings have taken place over the last two weeks and continue this week. Medivation(NASDAQ:MDVN) will actively seek to sell itself after the U.S. cancer drug maker rejected a $9.3 billion takeover offer from France'sSanofi(NYSE:SNY), people familiar with the situation told Reuters. The San Francisco-based company has agreed to open its books to bothPfizer(NYSE:PFE) andAmgen(NASDAQ:AMGN), those people said. In The News "Hillary Clinton might be on the way to the Democratic presidential nomination but she enters territory that could be considered more favorable to Bernie Sanders on Tuesday with the West Virginia primary," CNN says. "And for the first time on the Republican side, there's only one candidate in the race -- but that doesn't mean there's consensus. Republicans in West Virginia and Nebraska will offer the first glimpse at whether the GOP can rally behind Donald Trump in a general election." Migrants are trying to make a living on the Greek side of the Macedonian border, where about 10,000 people have set up Europe's biggest refugee camp and are showing signs of settling in for the long term. They are turning to business to survive. A better prostate cancer test? Wall Street Journal dives into several new prostate cancer tests that aim to reduce needless biopsies and unnecessary treatments by sorting out harmless from aggressive tumors. Blogosphere Bitcoin isn't the answer to Central Bank woes. Leonid Bershidsky says, "This imaginary world of effectively socialized money is being seriously discussed by researchers and central bankers alike." "You have built a business that works really well for you and for Google, but it doesn’t work well for artists," legendary manager Irving Azoff wrote in an open letter toGoogle's(NASDAQ:GOOGL) YouTube. Redditors are debatingTesla's(NASDAQ:TSLA) cash flow. One user says, "If you look at a short term and long term liquidity analysis it's all red flags. Imminent bankruptcy." Trending SCTY AGN BBRY LL OMER KNDI GPS DIS SEDG WWAV SODA CROX NLNK VNET DF [StockTwits] It was reported that Steph Curry will win the NBA's Most Valuable Player award for the second straight season. In true MVP fashion, the shooting star returned to the Golden State Warriors lineup last night, scoring 40 points off the bench and leading the team to an overtime victory in the second round of the NBA playoffs. See more from Benzinga • The Market In 5 Minutes: Monday, May 9, 2016 • The Market In 5 Minutes: The Most Exciting Two Minutes In Sports • Synergy Pharma Seen 'Weighing' Options, Sell-Side Forecasts Upside Regardless Of M&A Rumors © 2016 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. [Social Media Buzz] Current Price of 1 Bitcoin is $457.00 - (May 15, 2016 at 11:59PM) 1 BTC = $457.00 USD Learn more at Finexus http://ow.ly/RyhP500jCvP \|\| Bitstamp: $454.77/BTC - last trade of USD/BTC at https://www.bitstamp.net/ (high: 458.00, low: 451.11) #bitcoin #BTC http://bitcoinautotrade.com \|\| Bittrex STV/BTC Vol.:$ 41(99.81 %) YoBit STV/BTC Vol.:$ 0(0.19 %) Cryptopia STV/BTC Vol.:$ 0(0.00 %) Cryptopia STV/DOGE Vol.:$ 0(0.00 %) \|\| #Anoncoin/#ANC price now: $ 0.168177, that's 1.00 % change in 1hour. 3.32...	453.78, 454.62, 438.71, 442.68, 443.19, 439.32, 444.15, 445.98, 449.60, 453.38
Given the historical Bitcoin prices from the last 90 days, predict the next 10 daily closing prices. The historical prices are: 15201.00, 15599.20, 17429.50, 17527.00, 16477.60, 15170.10, 14595.40, 14973.30, 13405.80, 13980.60, 14360.20, 13772.00, 13819.80, 11490.50, 11188.60, 11474.90, 11607.40, 12899.20, 11600.10, 10931.40, 10868.40, 11359.40, 11259.40, 11171.40, 11440.70, 11786.30, 11296.40, 10106.30, 10221.10, 9170.54, 8830.75, 9174.91, 8277.01, 6955.27, 7754.00, 7621.30, 8265.59, 8736.98, 8621.90, 8129.97, 8926.57, 8598.31, 9494.63, 10166.40, 10233.90, 11112.70, 10551.80, 11225.30, 11403.70, 10690.40, 10005.00, 10301.10, 9813.07, 9664.73, 10366.70, 10725.60, 10397.90, 10951.00, 11086.40, 11489.70, 11512.60, 11573.30, 10779.90, 9965.57, 9395.01, 9337.55, 8866.00, 9578.63, 9205.12, 9194.85, 8269.81, 8300.86, 8338.35, 7916.88, 8223.68, 8630.65, 8913.47, 8929.28, 8728.47, 8879.62, 8668.12, 8495.78, 8209.40, 7833.04, 7954.48, 7165.70, 6890.52, 6973.53, 6844.23, 7083.80.	[Bitcoin Technical Analysis for 2018-04-02] Volume: 4333440000, RSI (14-day): 33.85, 50-day EMA: 9066.97, 200-day EMA: 9009.24 [Wider Market Context] Gold Price: 1342.10, Gold RSI: 56.06 Oil Price: 63.01, Oil RSI: 49.27 [Recent News (last 7 days)] 3 Top Dividend Stocks for the AI Revolution: Dividend stocks overall have been shown to outperform their non-dividend-paying peers, but there always seems to be a tug of war between growth and income. The allure of owning a stock in a fast-growing industry with the potential for significant gains can be tempting, as this approach can also help investors reach their financial goals. There's an opportunity, however, to get both the potential for large-scale growth while still generating an ongoing income stream. Artificial intelligence (AI) is still in its infancy, but the technology can be found everywhere. The systems are used for everything from powering the voice responses on your smartphone to tagging friends on social media to providing the brains behind self-driving cars. While estimates vary, the market for artificial intelligence is expected to produce annual growth of 45% and exceed $19 billion by 2022. These dividend payers are at the forefront of the AI revolution. Image source: Getty Images. More importantly for income investors, there are a number of stable dividend-paying companies that are developing the technology. With that in mind, let's look at three companies that provide the possibility of significant returns from advances in AI that pay shareholders while they wait --Apple(NASDAQ: AAPL),Microsoft Corporation(NASDAQ: MSFT), andIntel Corporation(NASDAQ: INTC) Don't make the mistake of thinking that Siri is Apple's one-and-only AI technology. With the release of the iPhone X late last year, Apple leapt ahead of the competition in smartphone AI. The device boasted the A11 Bionic Chip, taking AI technology out of the cloud andinto the smartphone itself, as well as cutting-edge facial recognition enabled by AI. Apple has also been testingself-driving car technology, though it has been keeping most of its progress in that area under wraps. AI in the Apple Watch is also being used in a number of health studies and is currently being tested todetect a life-threatening heart condition. iPhone X has impressive AI capabilities. Image source: Apple. While Apple's yield of 1.5% may seem meager, it's important to remember that Apple has gained over 160% in the past five years compared to the 70% gain of the S&P 500. At the same time, Apple has increased its dividend by 66% since re-instituting its payout in 2012 and raised the payout by 10% in each of the last three years. The company is only paying out 25% of its profits to fund the dividend, so there's plenty of opportunity for future increases. Microsoft is known primarily for its Office suite of products and Windows operating system, but the company is quickly making a name for itself in the emerging fields ofcloud computingand artificial intelligence. The company was among the first to integrate AI capabilities into its cloud offering, and its Azure is now the second most popular cloud platform. The company's intelligent cloud segment generated a whopping 27% of Microsoft's revenue in its most recent quarter. Microsoft also has expanded its AI-based Cortana digital assistant to nearly every device that contains the company's software -- an estimated 145 million monthly active users. AI is now integrated into everything from its Xbox gaming platform to its Bing search. It also has a suite of 29 AI technologies, like voice recognition and computer vision, which are available to developers. Microsoft is integrating AI across its operations. Image source: Microsoft. The company's dividend currently yields 1.87%, though Microsoft has gained 230% over the last five years, far outpacing the 70% return of the broader market. Microsoft has increased its dividend by 82% in the past five years, and most recently by 8%. When adjusting for the one-time charge related to recent tax reform, the company is paying out just 48% of profits to fund the dividend, boding well for future increases. Intel became a household name by providing the processors that power most home computers. Now, the company has plans that could conceivably change its mantra from "Intel inside" to "AI inside." The company has been working on a number of chips specifically designed for AI applications. Intel supplied the field-programmable gate array (FPGA) processor that's the backbone of Microsoft's cloud AI system. The company also acquired start-up Nervana, which developed purpose-built processors that could handle the most common computations done bydeep-learningAI programs. Finally, Intel acquired Mobileye, a company that develops sensors and cameras for self-driving cars. These moves put the company squarely into some of the biggest areas of AI. Mobileye developed sensors and cameras to enable self-driving systems. Image source: Intel. Intel's dividend currently yields 2.3%, and the stock has doubled the return of the broader market over the past five years, gaining 140%. The company has paid a dividend going back to 1992 and increased its payout by 33% over the past five years, most recently by 10%. Adjusting for recent tax reform, Intel is paying out just 34% of its profits, leaving lots of room for future increases. It's important to point out that artificial intelligence is still a quickly evolving field and there are no guarantees that these companies will be able to capitalize on AI. Additionally, this technology may only end up augmenting existing products and may not result in new or additional revenue streams. That said, recent developments show the vast potential for AI, and owning stocks that pay a dividend while waiting for these advancements to materialize can be a smart way to approach a rapidly evolving technology. More From The Motley Fool • 3 Growth Stocks at Deep-Value Prices • 5 Expected Social Security Changes in 2018 • 6 Years Later, 6 Charts That Show How Far Apple, Inc. Has Come Since Steve Jobs' Passing • 10 Best Stocks to Buy Today • The $16,122 Social Security Bonus You Cannot Afford to Miss • Bitcoin's Biggest Competitor Isn't Ethereum -- It's This Teresa Kersten is an employee of LinkedIn and is a member of The Motley Fool's board of directors. LinkedIn is owned by Microsoft.Danny Venaowns shares of Apple. The Motley Fool owns shares of and recommends Apple. The Motley Fool has the following options: long January 2020 $150 calls on Apple and short January 2020 $155 calls on Apple. The Motley Fool recommends Intel. The Motley Fool has adisclosure policy. \|\| 3 Top Dividend Stocks for the AI Revolution: Dividend stocks overall have been shown to outperform their non-dividend-paying peers, but there always seems to be a tug of war between growth and income. The allure of owning a stock in a fast-growing industry with the potential for significant gains can be tempting, as this approach can also help investors reach their financial goals. There's an opportunity, however, to get both the potential for large-scale growth while still generating an ongoing income stream. Artificial intelligence (AI) is still in its infancy, but the technology can be found everywhere. The systems are used for everything from powering the voice responses on your smartphone to tagging friends on social media to providing the brains behind self-driving cars. While estimates vary, the market for artificial intelligence is expected to produce annual growth of 45% and exceed $19 billion by 2022. Dollar bill with center torn out and the word "dividends" showing through. These dividend payers are at the forefront of the AI revolution. Image source: Getty Images. More importantly for income investors, there are a number of stable dividend-paying companies that are developing the technology. With that in mind, let's look at three companies that provide the possibility of significant returns from advances in AI that pay shareholders while they wait -- Apple (NASDAQ: AAPL) , Microsoft Corporation (NASDAQ: MSFT) , and Intel Corporation (NASDAQ: INTC) Don't count out Apple Don't make the mistake of thinking that Siri is Apple's one-and-only AI technology. With the release of the iPhone X late last year, Apple leapt ahead of the competition in smartphone AI. The device boasted the A11 Bionic Chip, taking AI technology out of the cloud and into the smartphone itself , as well as cutting-edge facial recognition enabled by AI. Apple has also been testing self-driving car technology , though it has been keeping most of its progress in that area under wraps. AI in the Apple Watch is also being used in a number of health studies and is currently being tested to detect a life-threatening heart condition . Story continues An iPhone X with water splashing around the sides. iPhone X has impressive AI capabilities. Image source: Apple. While Apple's yield of 1.5% may seem meager, it's important to remember that Apple has gained over 160% in the past five years compared to the 70% gain of the S&P 500. At the same time, Apple has increased its dividend by 66% since re-instituting its payout in 2012 and raised the payout by 10% in each of the last three years. The company is only paying out 25% of its profits to fund the dividend, so there's plenty of opportunity for future increases. More than just Windows Microsoft is known primarily for its Office suite of products and Windows operating system, but the company is quickly making a name for itself in the emerging fields of cloud computing and artificial intelligence. The company was among the first to integrate AI capabilities into its cloud offering, and its Azure is now the second most popular cloud platform. The company's intelligent cloud segment generated a whopping 27% of Microsoft's revenue in its most recent quarter. Microsoft also has expanded its AI-based Cortana digital assistant to nearly every device that contains the company's software -- an estimated 145 million monthly active users. AI is now integrated into everything from its Xbox gaming platform to its Bing search. It also has a suite of 29 AI technologies, like voice recognition and computer vision, which are available to developers. Microsoft logo outside company campus. Microsoft is integrating AI across its operations. Image source: Microsoft. The company's dividend currently yields 1.87%, though Microsoft has gained 230% over the last five years, far outpacing the 70% return of the broader market. Microsoft has increased its dividend by 82% in the past five years, and most recently by 8%. When adjusting for the one-time charge related to recent tax reform, the company is paying out just 48% of profits to fund the dividend, boding well for future increases. AI inside Intel became a household name by providing the processors that power most home computers. Now, the company has plans that could conceivably change its mantra from "Intel inside" to "AI inside." The company has been working on a number of chips specifically designed for AI applications. Intel supplied the field-programmable gate array (FPGA) processor that's the backbone of Microsoft's cloud AI system. The company also acquired start-up Nervana, which developed purpose-built processors that could handle the most common computations done by deep-learning AI programs. Finally, Intel acquired Mobileye, a company that develops sensors and cameras for self-driving cars. These moves put the company squarely into some of the biggest areas of AI. Two passengers in a self-driving car with test driver. Mobileye developed sensors and cameras to enable self-driving systems. Image source: Intel. Intel's dividend currently yields 2.3%, and the stock has doubled the return of the broader market over the past five years, gaining 140%. The company has paid a dividend going back to 1992 and increased its payout by 33% over the past five years, most recently by 10%. Adjusting for recent tax reform, Intel is paying out just 34% of its profits, leaving lots of room for future increases. Still in development It's important to point out that artificial intelligence is still a quickly evolving field and there are no guarantees that these companies will be able to capitalize on AI. Additionally, this technology may only end up augmenting existing products and may not result in new or additional revenue streams. That said, recent developments show the vast potential for AI, and owning stocks that pay a dividend while waiting for these advancements to materialize can be a smart way to approach a rapidly evolving technology. More From The Motley Fool 3 Growth Stocks at Deep-Value Prices 5 Expected Social Security Changes in 2018 6 Years Later, 6 Charts That Show How Far Apple, Inc. Has Come Since Steve Jobs' Passing 10 Best Stocks to Buy Today The $16,122 Social Security Bonus You Cannot Afford to Miss Bitcoin's Biggest Competitor Isn't Ethereum -- It's This Teresa Kersten is an employee of LinkedIn and is a member of The Motley Fool's board of directors. LinkedIn is owned by Microsoft. Danny Vena owns shares of Apple. The Motley Fool owns shares of and recommends Apple. The Motley Fool has the following options: long January 2020 $150 calls on Apple and short January 2020 $155 calls on Apple. The Motley Fool recommends Intel. The Motley Fool has a disclosure policy . \|\| Microsoft Corp. Reportedly Considers Windows License-Fee Change: According to DigiTimes , software giant Microsoft (NASDAQ: MSFT) is considering a shakeup to the way that it charges computer makers for licenses for its Windows operating system. Microsoft is reportedly going to charge computer makers more for Windows licenses for computers with higher-end specifications -- such as more advanced displays and higher memory configurations -- than for computers with lower-end specifications. A woman holding a Surface Pro in the back of a car. Image source: Microsoft. Apparently, this wouldn't be an entirely new way of doing business for Microsoft: DigiTimes claims that beginning in 2017, Microsoft based its Windows licensing fees on the speed grades of the processors in the devices. The new licensing structure would simply be an extension of what the company was already doing. Let's go over what this will mean for Microsoft and notebook makers. A likely positive for Microsoft Although the overall personal-computer market continues to see a decline in unit shipments, there has been an interesting dynamic at play underneath the proverbial covers of the market. Chip-giant Intel (NASDAQ: INTC) , which supplies most of the processors that go into Windows-based computers, has seen a steady increase in the average selling prices of its notebook computer processors. In 2017, for example, Intel reported that notebook processor average selling prices grew 2% year over year. Intel reported a similar year-over-year increase in notebook average selling prices during 2016, as well. What this tells us is that computer buyers are increasingly opting to buy computers with higher-end processors . Generally speaking, computer makers will pair higher-end processors with higher-end computers while restricting lower-end processors to otherwise lower-end computers. Microsoft likely is trying to cash in on this trend toward higher-end computer sales so that it, like Intel and the computer makers, can offset declining PC unit shipments by capitalizing on the shift toward higher-end computers. Story continues A negative for computer manufacturers DigiTimes , citing industry sources, says that "this move is expected to put further pressure on notebook makers, which currently faces rising component costs." For some context, two significant parts of the bill of materials of a typical computer is the random access memory, or RAM, as well as the storage. In a low-end system, that storage is typically a hard disk drive, but in higher-end systems, computer makers opt for faster (but more expensive) NAND-flash-based solid state drives. Since demand for DRAM and NAND has been booming -- and key manufacturers are managing their capacity judiciously -- thanks to increases in both DRAM and NAND content in smartphones and data centers, prices for both commodities has been on the rise. Computer makers are obviously impacted by those trends. Piling on higher Windows license fees -- which already make up a significant portion of a computer's overall cost -- is only going to hurt the computer makers. That hurt can come in one of two ways: Computer makers themselves could absorb the higher licensing fees, hurting their per-device profit margins, or they could pass those higher fees onto the consumer, which results in higher device prices and possibly lower overall demand. If I had to guess, though, I'd imagine that computer makers are going to settle for the lower margins. More From The Motley Fool 3 Growth Stocks at Deep-Value Prices 5 Expected Social Security Changes in 2018 6 Years Later, 6 Charts That Show How Far Apple, Inc. Has Come Since Steve Jobs' Passing 10 Best Stocks to Buy Today The $16,122 Social Security Bonus You Cannot Afford to Miss Bitcoin's Biggest Competitor Isn't Ethereum -- It's This Teresa Kersten is an employee of LinkedIn and is a member of The Motley Fool's board of directors. LinkedIn is owned by Microsoft. Ashraf Eassa owns shares of Intel. The Motley Fool recommends Intel. The Motley Fool has a disclosure policy . \|\| Microsoft Corp. Reportedly Considers Windows License-Fee Change: According toDigiTimes, software giantMicrosoft(NASDAQ: MSFT)is considering a shakeup to the way that it charges computer makers for licenses for its Windows operating system. Microsoft is reportedly going to charge computer makers more for Windows licenses for computers with higher-end specifications -- such as more advanced displays and higher memory configurations -- than for computers with lower-end specifications. Image source: Microsoft. Apparently, this wouldn't be an entirely new way of doing business for Microsoft:DigiTimesclaims that beginning in 2017, Microsoft based its Windows licensing fees on the speed grades of the processors in the devices. The new licensing structure would simply be an extension of what the company was already doing. Let's go over what this will mean for Microsoft and notebook makers. Although the overall personal-computer market continues to see a decline in unit shipments, there has been an interesting dynamic at play underneath the proverbial covers of the market. Chip-giantIntel(NASDAQ: INTC), which supplies most of the processors that go into Windows-based computers, has seen asteady increase in the average selling pricesof its notebook computer processors. In 2017, for example, Intel reported that notebook processor average selling prices grew 2% year over year. Intel reported a similar year-over-year increase in notebook average selling prices during 2016, as well. What this tells us is that computer buyers areincreasingly opting to buy computers with higher-end processors. Generally speaking, computer makers will pair higher-end processors with higher-end computers while restricting lower-end processors to otherwise lower-end computers. Microsoft likely is trying to cash in on this trend toward higher-end computer sales so that it, like Intel and the computer makers, can offset declining PC unit shipments by capitalizing on the shift toward higher-end computers. DigiTimes, citing industry sources, says that "this move is expected to put further pressure on notebook makers, which currently faces rising component costs." For some context, two significant parts of the bill of materials of a typical computer is the random access memory, or RAM, as well as the storage. In a low-end system, that storage is typically a hard disk drive, but in higher-end systems, computer makers opt for faster (but more expensive) NAND-flash-based solid state drives. Since demand for DRAM and NAND has been booming -- and key manufacturers are managing their capacity judiciously -- thanks to increases in both DRAM and NAND content in smartphones and data centers, prices for both commodities has been on the rise. Computer makers are obviously impacted by those trends. Piling on higher Windows license fees -- which already make up a significant portion of a computer's overall cost -- is only going to hurt the computer makers. That hurt can come in one of two ways: Computer makers themselves could absorb the higher licensing fees, hurting their per-device profit margins, or they could pass those higher fees onto the consumer, which results in higher device prices and possibly lower overall demand. If I had to guess, though, I'd imagine that computer makers are going to settle for the lower margins. More From The Motley Fool • 3 Growth Stocks at Deep-Value Prices • 5 Expected Social Security Changes in 2018 • 6 Years Later, 6 Charts That Show How Far Apple, Inc. Has Come Since Steve Jobs' Passing • 10 Best Stocks to Buy Today • The $16,122 Social Security Bonus You Cannot Afford to Miss • Bitcoin's Biggest Competitor Isn't Ethereum -- It's This Teresa Kersten is an employee of LinkedIn and is a member of The Motley Fool's board of directors. LinkedIn is owned by Microsoft.Ashraf Eassaowns shares of Intel. The Motley Fool recommends Intel. The Motley Fool has adisclosure policy. \|\| How Duke Energy Corporation Makes Most of Its Money: On the surface,Duke Energy Corporation(NYSE: DUK)is a boring old utility stock offering a robust 4.6% dividend yield. And, in this case, that's pretty close to the truth -- but it isn't the entire story. In fact, if you haven't taken a deep look at Duke in a few years, you might be surprised at how much it has changed. Here's a quick rundown of how Duke Energy makes most of its money today. The core of Duke's business is its regulated electric utility assets, making up around 90% of its income in 2017. This business serves roughly 7.5 million retail electric customers in six states in the Southeast and Midwest, including notable footprints in Florida, the Carolinas, and Indiana. This division, however, should really be looked at as two parts: power generation and electric delivery. They live under one roof, but they have different dynamics. Image source: Getty Images. For example, of the $37 billion incapital spendingthe utility has planned across its entire business between 2018 and 2022, roughly 50% is going toward electric transmission and only about 20% toward power generation. The W.S. Lee Combined Cycle Gas Turbine power plant Duke is building in Florida is, indeed, a big deal, and will help to shift the company's production toward cleaner fuels, but it isn't in the biggest expense category. More money is going toward modernizing the grid, with things like smart meters and storm-hardened power lines. That speaks to the regulated nature of this business. Duke has to get its customer rates approved by the government. The best way to do that is to spend money on its business, with regulators currently appearing most fond of supporting the integrity of the power grid. Spending on the regulated electric utility side of the business, meanwhile, is expected to result in roughly 4% to 5% growth in this important division. The next largest division is the company's natural gas business (accounting for about 9% of income), which was created when Duke completed the purchase of Piedmont Natural Gas in late 2016. This business serves 1.5 million customers across five states. However, like the electric business, it isn't exactly one entity, since Duke also owns stakes in midstream natural gas assets in addition to its retail natural gas distribution business. The regulated distribution business, which sends gas into homes and businesses, is similar to the electric business. This portion of the natural gas division has to get rates approved by regulators, and spending to improve and expand distribution helps that along. That said, of the roughly $6 billion in capital spending that's going into the natural gas unit between 2018 and 2022 (roughly 15% of Duke's total spending), a little over half is going toward Duke's midstream segment. In the midstream space, an expanding asset base is the way that earnings are generally increased. That said, these assets usually operate under long-term contracts with large corporations, so it's a fairly stable business over time, much like Duke's retail-focused businesses. Overall, Duke's natural gas business, which is much smaller than its electric division, is projected to grow earnings by around 11% annually through 2022. The last business is Duke's merchant power operations (around 1% of income), an area in which it has been involved for a long time. This division, however, changed materially when the utility sold its fossil fuel merchant assets in early 2015. It has since refocused on building renewable power generation, including solar and wind, with assets spread across the United States. The power it generates is generally sold under long-term contracts, making it a fairly stable business. Duke has solid dividend-growth plans built on its capital spending. Image source: Duke Energy Corporation. Like the midstream operation, increasing the number of assets it controls is the path to growth here. On that score, Duke has plans to invest roughly $1.5 billion in this division between 2018 and 2022. That, in turn, is expected to result in growth of roughly 10% in this relatively tiny business. Although Duke's biggest business is a boring old electric utility, there's a lot of moving parts when you dig a bit deeper. Even the electric utility business is really more complex than you'd think when you look closely, with power generation and delivery increasingly looking like separate businesses. Then there's the relatively new natural gas division and the reshaped merchant power business, which are small but fast-growing. Overall, Duke is projecting that this combination -- andits capital spending plans-- will support earnings and dividend growth in the 4% to 6% range through 2022. More From The Motley Fool • 3 Growth Stocks at Deep-Value Prices • 5 Expected Social Security Changes in 2018 • 6 Years Later, 6 Charts That Show How Far Apple, Inc. Has Come Since Steve Jobs' Passing • 10 Best Stocks to Buy Today • The $16,122 Social Security Bonus You Cannot Afford to Miss • Bitcoin's Biggest Competitor Isn't Ethereum -- It's This Reuben Gregg Brewerhas no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has adisclosure policy. \|\| How Duke Energy Corporation Makes Most of Its Money: On the surface, Duke Energy Corporation (NYSE: DUK) is a boring old utility stock offering a robust 4.6% dividend yield. And, in this case, that's pretty close to the truth -- but it isn't the entire story. In fact, if you haven't taken a deep look at Duke in a few years, you might be surprised at how much it has changed. Here's a quick rundown of how Duke Energy makes most of its money today. The big business The core of Duke's business is its regulated electric utility assets, making up around 90% of its income in 2017. This business serves roughly 7.5 million retail electric customers in six states in the Southeast and Midwest, including notable footprints in Florida, the Carolinas, and Indiana. This division, however, should really be looked at as two parts: power generation and electric delivery. They live under one roof, but they have different dynamics. A man wearing a hard hat standing with the sun behind him in front of power equipment Image source: Getty Images. For example, of the $37 billion in capital spending the utility has planned across its entire business between 2018 and 2022, roughly 50% is going toward electric transmission and only about 20% toward power generation. The W.S. Lee Combined Cycle Gas Turbine power plant Duke is building in Florida is, indeed, a big deal, and will help to shift the company's production toward cleaner fuels, but it isn't in the biggest expense category. More money is going toward modernizing the grid, with things like smart meters and storm-hardened power lines. That speaks to the regulated nature of this business. Duke has to get its customer rates approved by the government. The best way to do that is to spend money on its business, with regulators currently appearing most fond of supporting the integrity of the power grid. Spending on the regulated electric utility side of the business, meanwhile, is expected to result in roughly 4% to 5% growth in this important division. Natural gas, a newcomer The next largest division is the company's natural gas business (accounting for about 9% of income), which was created when Duke completed the purchase of Piedmont Natural Gas in late 2016. This business serves 1.5 million customers across five states. However, like the electric business, it isn't exactly one entity, since Duke also owns stakes in midstream natural gas assets in addition to its retail natural gas distribution business. The regulated distribution business, which sends gas into homes and businesses, is similar to the electric business. This portion of the natural gas division has to get rates approved by regulators, and spending to improve and expand distribution helps that along. That said, of the roughly $6 billion in capital spending that's going into the natural gas unit between 2018 and 2022 (roughly 15% of Duke's total spending), a little over half is going toward Duke's midstream segment. Story continues In the midstream space, an expanding asset base is the way that earnings are generally increased. That said, these assets usually operate under long-term contracts with large corporations, so it's a fairly stable business over time, much like Duke's retail-focused businesses. Overall, Duke's natural gas business, which is much smaller than its electric division, is projected to grow earnings by around 11% annually through 2022. A new focus for an old timer The last business is Duke's merchant power operations (around 1% of income), an area in which it has been involved for a long time. This division, however, changed materially when the utility sold its fossil fuel merchant assets in early 2015. It has since refocused on building renewable power generation, including solar and wind, with assets spread across the United States. The power it generates is generally sold under long-term contracts, making it a fairly stable business. A bar chart showing Duke's projection that it will be able to grow the dividend by as much as 6% a year Duke has solid dividend-growth plans built on its capital spending. Image source: Duke Energy Corporation. Like the midstream operation, increasing the number of assets it controls is the path to growth here. On that score, Duke has plans to invest roughly $1.5 billion in this division between 2018 and 2022. That, in turn, is expected to result in growth of roughly 10% in this relatively tiny business. All together now Although Duke's biggest business is a boring old electric utility, there's a lot of moving parts when you dig a bit deeper. Even the electric utility business is really more complex than you'd think when you look closely, with power generation and delivery increasingly looking like separate businesses. Then there's the relatively new natural gas division and the reshaped merchant power business, which are small but fast-growing. Overall, Duke is projecting that this combination -- and its capital spending plans -- will support earnings and dividend growth in the 4% to 6% range through 2022. More From The Motley Fool 3 Growth Stocks at Deep-Value Prices 5 Expected Social Security Changes in 2018 6 Years Later, 6 Charts That Show How Far Apple, Inc. Has Come Since Steve Jobs' Passing 10 Best Stocks to Buy Today The $16,122 Social Security Bonus You Cannot Afford to Miss Bitcoin's Biggest Competitor Isn't Ethereum -- It's This Reuben Gregg Brewer has no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy . View comments \|\| The market is ‘right in the eye of the storm,’ and charts show dark clouds ahead: Bank of America: Paul Ciana, global chief FICC technical strategist at Bank of America Merrill Lynch, says the market's "headed right in the eye of the storm," and there are two charts to watch that could signal some dark clouds ahead. "Our thesis here suggests that U.S. financial conditions continue to deteriorate," he said Thursday on CNBC's "Futures Now." Ciana refers specifically to the bond market and gold as key indicators that could suggest that the second quarter could be as bumpy as the first. On a chart of the U.S. 10-year futures, Ciana sees a "double breakout" pattern that has recently occurred. This, along with the fact that rallies in the 10-year futures have also been accompanied by high volume, has Ciana believing that the bond market could soon rally. The strategist also sees bullish signs in the charts for gold, which is generally considered a safe haven trade once stocks start to fall. As of Thursday, gold was on pace for its longest quarterly winning streak since 2011, and according to Ciana could start second quarter on strong footing. "6 of the last 7 big rallies in gold did have substantially high volume compared to the declines that happened before that," said Ciana referring to a weekly chart of gold. On the same chart, Ciana also points out that a bull flag scenario could be forming, another sign that gold may take a leg higher. "So I think with gold sitting here at about $1,320 or so, you have a great risk reward where you could probably target somewhere in the mid-1,400s if a bull flag scenario does in fact follow." All of this leads Ciana to believe that the market volatility seen in the early months of 2018 could be replicated in the next few months. "Enjoy the little bit of calm in the middle of the storm, and get ready to hunker down as Q2 is probably going to be a bit more similar to Q1," he added. On Thursday to end last week, the Dow, Nasdaq and S&P 500 all saw their first gains in three days. More From CNBC Earnings season could stop the ‘bleeding’ on markets, says Nuveen strategist Bitcoin is nearing a 'death cross' on the charts. Here’s what it means A 'dumpster fire' in tech could scorch investors, money manager warns \|\| The market is ‘right in the eye of the storm,’ and charts show dark clouds ahead: Bank of America: Paul Ciana, global chief FICC technical strategist at Bank of America Merrill Lynch, says the market's "headed right in the eye of the storm," and there are two charts to watch that could signal some dark clouds ahead. "Our thesis here suggests that U.S. financial conditions continue to deteriorate," he said Thursday onCNBC's "Futures Now." Ciana refers specifically to the bond market and gold as key indicators that could suggest that the second quarter could be as bumpy as the first. On a chart of the U.S. 10-year futures, Ciana sees a "double breakout" pattern that has recently occurred. This, along with the fact that rallies in the 10-year futures have also been accompanied by high volume, has Ciana believing that the bond market could soon rally. The strategist also sees bullish signs in the charts for gold, which is generally considered a safe haven trade once stocks start to fall. As of Thursday, gold was on pace for its longest quarterly winning streak since 2011, and according to Ciana could start second quarter on strong footing. "6 of the last 7 big rallies in gold did have substantially high volume compared to the declines that happened before that," said Ciana referring to a weekly chart of gold. On the same chart, Ciana also points out that a bull flag scenario could be forming, another sign that gold may take a leg higher. "So I think with gold sitting here at about $1,320 or so, you have a great risk reward where you could probably target somewhere in the mid-1,400s if a bull flag scenario does in fact follow." All of this leads Ciana to believe that the market volatility seen in the early months of 2018 could be replicated in the next few months. "Enjoy the little bit of calm in the middle of the storm, and get ready to hunker down as Q2 is probably going to be a bit more similar to Q1," he added. On Thursday to end last week, the Dow, Nasdaq and S&P 500 all saw their first gains in three days. More From CNBC • Earnings season could stop the ‘bleeding’ on markets, says Nuveen strategist • Bitcoin is nearing a 'death cross' on the charts. Here’s what it means • A 'dumpster fire' in tech could scorch investors, money manager warns \|\| Oil Stocks: The Land Grab in the Permian Basin Is Over, but an M&A Boom Might Be About to Begin: A couple of years ago, the Permian Basin in Texas was a hotbed of activity. Oil companies were snapping up drillable land as quickly as they could, spending billions to acquire acreage, mainly from privately held companies. However, the land grab started cooling off last year as investor sentiment shifted from rewarding companies that grew their size to those that increased shareholder value. While that change slowed down M&A activity in the region, it could shift back into high gear after Concho Resources (NYSE: CXO) struck a deal to acquire Permian peer RSP Permian (NYSE: RSPP) in a pricey transaction that will create the largest shale producer in the region. That deal, which the company saw as a "road map" to consolidation, could spark a wave of M&A in the basin this year. A silhouette of two people near some oil pumps at sunset. Image source: Getty Images. Building the biggest empire Conoco Resources was one of the early leaders in the Permian land grab a few years ago, announcing a series of transactions in early 2016 to enhance its position in the region, including trading for some adjacent acreage as well as buying and selling some other properties. The company's wheeling and dealing continued throughout the year, making two more notable deals, spending $1.625 billion for 40,000 acres in the Midland Basin and then $430 million for land on the Delaware side of the Basin. The driller made another deal last year, spending $600 million for acreage in the Midland. However, its $9.5 billion deal for RSP Permian takes things to another level by creating the largest producer in the region. The combined company will also have the biggest drilling program in the area, with plans to run 27 rigs across the nearly 640,000 acres they'll control. An oil pump jack with an oil worker next to it. Image source: Getty Images. Blazing a new trail However, in addition to increasing its scale, Concho sees its transaction having an even greater strategic importance, as it should serve as "a road map for in-basin consolidation," according to CEO Tim Leach. The company paid a hefty price to set this trend, not only in the 29% premium for RSP's stock but also in the implied value of more than $75,000 an acre for the land acquired, which is well above recent deals. However, Concho believes it can justify this high cost by using its larger scale to reduce costs and become even more efficient at drilling wells, especially larger ones that require vast tracks of adjacent land. Story continues Analysts agree that the deal, while costly, "has the potential to spark an arms race in the region," according to industry consultant Wood Mackenzie. Diamondback Energy (NASDAQ: FANG) has already hinted to analysts that it's interested in merging with a Permian peer rather than just buying more undeveloped acreage. That's because it would allow Diamondback Energy to use its premium-priced stock to acquire a rival in a deal that would likely provide a significant boost to its per-share metrics even as it bolsters its scale in the region. EOG Resources (NYSE: EOG) has also hinted that it's open to M&A. While EOG typically avoids mergers, it did make what was one of the best deals in 2016 when it bought Yates for a fraction of what others paid for similar companies that year. However, with the company on pace to generate $1.5 billion in excess cash this year , it "does position us to take advantage of opportunities for maybe an acquisition," according to EOG CEO Bill Thomas, who also noted that "we continue to look at those." One potential target to keep an eye on is Energen (NYSE: EGN) . The driller's resource size rivals that of Diamondback Energy, yet it sells for half its valuation . That discount has driven one of Energen's largest investors to push the company to take action and address "what we believe is a material discount to its underlying value," by potentially putting the company up for sale. In fact, in a recent agreement with those investors, Energen agreed to "conduct an in-depth review, assisted by financial advisors, of the company's business plan, competitive positioning, and potential strategic alternatives." Given the premium Concho paid for RSP Permian, a sale looks like it could be a compelling alternative. Getting ready for the wave Concho Resources believes that its purchase of RSP Permian will not only turn two great Permian companies into one even stronger entity but spark a consolidation wave across the region. Those mergers would enable drillers to cut costs and drill better wells, which should boost returns and profitability. While it's anyone's guess what company might be the next acquisition target, Energen certainly seems like a high probability option. More From The Motley Fool 3 Growth Stocks at Deep-Value Prices 5 Expected Social Security Changes in 2018 6 Years Later, 6 Charts That Show How Far Apple, Inc. Has Come Since Steve Jobs' Passing 10 Best Stocks to Buy Today The $16,122 Social Security Bonus You Cannot Afford to Miss Bitcoin's Biggest Competitor Isn't Ethereum -- It's This Matthew DiLallo has no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy . \|\| Oil Stocks: The Land Grab in the Permian Basin Is Over, but an M&A Boom Might Be About to Begin: A couple of years ago, thePermian Basinin Texas was a hotbed of activity. Oil companies were snapping up drillable land as quickly as they could,spendingbillions to acquire acreage, mainly from privately held companies. However, theland grab started cooling off last yearas investor sentiment shifted from rewarding companies that grew their size to those that increased shareholder value. While that change slowed down M&A activity in the region, it could shift back into high gear afterConcho Resources(NYSE: CXO)struck a deal to acquire Permian peerRSP Permian(NYSE: RSPP)in apricey transactionthat will create the largest shale producer in the region. That deal, which the company saw as a "road map" to consolidation, could spark a wave of M&A in the basin this year. Image source: Getty Images. Conoco Resources was one of the early leaders in the Permian land grab a few years ago, announcing a series of transactions in early 2016 to enhance its position in the region, including trading for some adjacent acreage as well as buying and selling some other properties. The company's wheeling and dealing continued throughout the year, making two more notable deals, spending $1.625 billion for 40,000 acres in the Midland Basin and then $430 million for land on the Delaware side of the Basin. The driller made another deal last year, spending $600 million for acreage in the Midland. However, its $9.5 billion deal for RSP Permian takes things to another level by creating the largest producer in the region. The combined company will also have the biggest drilling program in the area, with plans to run 27 rigs across the nearly 640,000 acres they'll control. Image source: Getty Images. However, in addition to increasing its scale, Concho sees its transaction having an even greater strategic importance, as it should serve as "a road map for in-basin consolidation," according to CEO Tim Leach. The company paid a hefty price to set this trend, not only in the 29% premium for RSP's stock but also in the implied value of more than $75,000 an acre for the land acquired, which is well above recent deals. However, Concho believes it can justify this high cost by using its larger scale to reduce costs and become even more efficient at drilling wells, especially larger ones that require vast tracks of adjacent land. Analysts agree that the deal, while costly, "has the potential to spark an arms race in the region," according to industry consultant Wood Mackenzie.Diamondback Energy(NASDAQ: FANG)has already hinted to analysts that it's interested in merging with a Permian peer rather than just buying more undeveloped acreage. That's because it would allow Diamondback Energy to use its premium-priced stock to acquire a rival in a deal that would likely provide a significant boost to its per-share metrics even as it bolsters its scale in the region. EOG Resources(NYSE: EOG)has also hinted that it's open to M&A. While EOG typically avoids mergers, it did make what was one of thebest dealsin 2016 when it bought Yates for a fraction of what others paid for similar companies that year. However, with the company on pace to generate$1.5 billion in excess cash this year, it "does position us to take advantage of opportunities for maybe an acquisition," according to EOG CEO Bill Thomas, who also noted that "we continue to look at those." One potential target to keep an eye on isEnergen(NYSE: EGN). The driller's resource size rivals that of Diamondback Energy, yet it sells forhalf its valuation. That discount has driven one of Energen's largest investors to push the company to take action and address "what we believe is a material discount to its underlying value," by potentially putting the company up for sale. In fact, in a recent agreement with those investors, Energen agreed to "conduct an in-depth review, assisted by financial advisors, of the company's business plan, competitive positioning, and potential strategic alternatives." Given the premium Concho paid for RSP Permian, a sale looks like it could be a compelling alternative. Concho Resources believes that its purchase of RSP Permian will not only turn two great Permian companies into one even stronger entity but spark a consolidation wave across the region. Those mergers would enable drillers to cut costs and drill better wells, which should boost returns and profitability. While it's anyone's guess what company might be the next acquisition target, Energen certainly seems like a high probability option. More From The Motley Fool • 3 Growth Stocks at Deep-Value Prices • 5 Expected Social Security Changes in 2018 • 6 Years Later, 6 Charts That Show How Far Apple, Inc. Has Come Since Steve Jobs' Passing • 10 Best Stocks to Buy Today • The $16,122 Social Security Bonus You Cannot Afford to Miss • Bitcoin's Biggest Competitor Isn't Ethereum -- It's This Matthew DiLallohas no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has adisclosure policy. \|\| Better Buy: Freeport-McMoRan Inc. vs. Alcoa Corporation: Freeport-McMoRan Inc. (NYSE: FCX) and Alcoa Corporation (NYSE: AA) entered 2017 having made large changes to their businesses. As a result, both companies started off 2018 with stronger businesses and a brighter outlook. However, one of these metals companies still has some lingering baggage to deal with, and that gives the other stock the edge here. Better businesses today Before getting too deep into Freeport's and Alcoa's businesses, it's important to remember that Freeport is a copper and gold miner while Alcoa is an aluminum company. If you are looking for copper and gold exposure, don't buy Alcoa stock, and if you want aluminum exposure, don't buy Freeport stock. With that out of the way, it's time to look at the solid improvements each company made in 2017. A person pouring liquid aluminum into ingot molds Image source: Getty Images The big change for Alcoa was its separation from specialty parts maker Arconic (NYSE: ARNC) in late 2016. Effectively, 2017 was the aluminum company's first year as a stand-alone entity focused almost exclusively on the commodity side of the aluminum value chain . And it was a good year . Alcoa's top line advanced 25% in 2017, driven largely by higher aluminum and alumina prices. Adjusted EBITDA more than doubled, going from roughly $1.1 billion in 2016 to $2.35 billion last year. Cash on the balance sheet increased from $853 million to $1.35 billion even while long-term debt fell slightly from $1.42 billion to $1.39 billion. The aluminum giant was able to cut costs, too, taking selling, general, and administrative expenses down 20% through the year. Freeport-McMoRan's big change was effectively jettisoning the oil business it bought just before energy prices started to plummet in mid-2014. That ill-timed acquisition saddled the company with heavy debts and a struggling new business. Having refocused on its copper and gold mining assets , 2017 was something of a fresh start for Freeport. And it got off on the right foot performance-wise. Story continues FCX Chart FCX data by YCharts . The miner's top line advanced 10% in 2017, helped along by rising copper and gold prices . Net income from continuing operations went from a loss of $2.96 per share in 2016 to a gain of $1.21 in 2017. The improvement, however, was really on the balance sheet , where Freeport was able to reduce its net debt by 18% last year to roughly $13.1 billion. That number was roughly $20 billion after the debt-funded oil acquisition in 2014. Not a bad showing at all. Some issues remain Looking forward, the performances of Alcoa and Freeport are tied to their respective commodity markets. If you are researching either company, you have to keep that in mind, because falling commodity prices can be a major headwind for both stocks. However, Freeport has one additional problem that deserves very close attention: One of its largest assets, the Grasberg Mine in Indonesia, is in a state of flux. Although it's a complex issue, the Indonesian government effectively wants to get more financial benefit from the Grasberg Mine than it has been. Since achieving that end requires that Freeport give up its controlling stake in the mine, which accounts for around 30% of its copper reserves and virtually all of its gold reserves, Freeport isn't too pleased with the idea. The two sides have been in discussions for over a year on an equitable outcome. Although a broad framework was reached in the middle of 2017, hammering out the details has proven difficult. An overview of Freeport's largest assets, showing that Grasberg makes up roughly 30% of its copper reserves and virtually all of its gold reserves Grasberg is a giant asset in Freeport's portfolio. Image source: Freeport-McMoRan Inc. Until the Grasberg issue is resolved, there's a huge amount of uncertainty surrounding Freeport's business. Alcoa doesn't face a similar headwind. In fact, Alcoa is looking at generally rising long-term demand for the light and strong metal it supplies to the world. Although I wouldn't rush in to buy either name right now after their impressive 2017 runs, I would err on the side of caution and pick Alcoa if I were in a buying mood with this pair. I wouldn't want to worry about the very material Grasberg issue. Avoiding an extra risk Financial results at Alcoa and Freeport McMoRan will depend on the prices of the commodities they sell, and that will likely have a similar impact on their stocks. However, looking at the position each is in today, Freeport is dealing with a notable problem in Indonesia that could prove a huge headwind to its financial results if negotiations don't go well. Alcoa simply doesn't have that same kind of uncertainty hanging over it. Both companies have performed relatively well over the last year or so, but most investors would be better off staying away from the risks posed by the uncertainty at one of Freeport McMoRan's biggest mines. More From The Motley Fool 3 Growth Stocks at Deep-Value Prices 5 Expected Social Security Changes in 2018 6 Years Later, 6 Charts That Show How Far Apple, Inc. Has Come Since Steve Jobs' Passing 10 Best Stocks to Buy Today The $16,122 Social Security Bonus You Cannot Afford to Miss Bitcoin's Biggest Competitor Isn't Ethereum -- It's This Reuben Gregg Brewer has no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy . \|\| Better Buy: Freeport-McMoRan Inc. vs. Alcoa Corporation: Freeport-McMoRan Inc.(NYSE: FCX)andAlcoa Corporation(NYSE: AA)entered 2017 having made large changes to their businesses. As a result, both companies started off 2018 with stronger businesses and a brighter outlook. However, one of these metals companies still has some lingering baggage to deal with, and that gives the other stock the edge here. Before getting too deep into Freeport's and Alcoa's businesses, it's important to remember that Freeport is a copper and gold miner while Alcoa is an aluminum company. If you are looking for copper and gold exposure, don't buy Alcoa stock, and if you want aluminum exposure, don't buy Freeport stock. With that out of the way, it's time to look at the solid improvements each company made in 2017. Image source: Getty Images Thebig change for Alcoawas its separation from specialty parts makerArconic(NYSE: ARNC)in late 2016. Effectively, 2017 was the aluminum company's first year as a stand-alone entityfocused almost exclusively on the commodity side of the aluminum value chain. Andit was a good year. Alcoa's top line advanced 25% in 2017, driven largely by higher aluminum and alumina prices. AdjustedEBITDAmore than doubled, going from roughly $1.1 billion in 2016 to $2.35 billion last year. Cash on the balance sheet increased from $853 million to $1.35 billion even while long-term debt fell slightly from $1.42 billion to $1.39 billion. The aluminum giant was able to cut costs, too, taking selling, general, and administrative expenses down 20% through the year. Freeport-McMoRan's big change was effectively jettisoningthe oil business it bought just before energy prices started to plummetin mid-2014. That ill-timed acquisition saddled the company with heavy debts and a struggling new business. Havingrefocused on its copper and gold mining assets, 2017 was something of a fresh start for Freeport. And it got off on the right foot performance-wise. FCXdata byYCharts. The miner's top line advanced 10% in 2017,helped along by rising copper and gold prices. Net income from continuing operations went from a loss of $2.96 per share in 2016 to a gain of $1.21 in 2017. The improvement, however, was really on thebalance sheet, where Freeport was able to reduce its net debt by 18% last year to roughly $13.1 billion. That number was roughly $20 billion after the debt-funded oil acquisition in 2014. Not a bad showing at all. Looking forward, the performances of Alcoa and Freeport are tied to their respective commodity markets. If you are researching either company, you have to keep that in mind, because falling commodity prices can be a major headwind for both stocks. However, Freeport has one additional problem that deserves very close attention: One of its largest assets,the Grasberg Minein Indonesia, is in a state of flux. Although it's a complex issue,the Indonesian government effectively wants to get more financial benefit from the Grasberg Minethan it has been. Since achieving that end requires that Freeport give up its controlling stake in the mine, which accounts for around 30% of its copper reserves and virtually all of its gold reserves, Freeport isn't too pleased with the idea. The two sides have been in discussions for over a year on an equitable outcome. Although a broad framework was reached in the middle of 2017, hammering out the details has proven difficult. Grasberg is a giant asset in Freeport's portfolio. Image source: Freeport-McMoRan Inc. Until the Grasberg issue is resolved, there's a huge amount of uncertainty surrounding Freeport's business. Alcoa doesn't face a similar headwind. In fact, Alcoa is looking at generally rising long-term demand for the light and strong metal it supplies to the world. Although I wouldn't rush in to buy either name right now after their impressive 2017 runs, I would err on the side of caution and pick Alcoa if I were in a buying mood with this pair. I wouldn't want to worry about the very material Grasberg issue. Financial results at Alcoa and Freeport McMoRan will depend on the prices of the commodities they sell, and that will likely have a similar impact on their stocks. However, looking at the position each is in today, Freeport is dealing with a notable problem in Indonesia that could prove a huge headwind to its financial results if negotiations don't go well. Alcoa simply doesn't have that same kind of uncertainty hanging over it. Both companies have performed relatively well over the last year or so, but most investors would be better off staying away from the risks posed by the uncertainty at one of Freeport McMoRan's biggest mines. More From The Motley Fool • 3 Growth Stocks at Deep-Value Prices • 5 Expected Social Security Changes in 2018 • 6 Years Later, 6 Charts That Show How Far Apple, Inc. Has Come Since Steve Jobs' Passing • 10 Best Stocks to Buy Today • The $16,122 Social Security Bonus You Cannot Afford to Miss • Bitcoin's Biggest Competitor Isn't Ethereum -- It's This Reuben Gregg Brewerhas no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has adisclosure policy. \|\| 3 Growth Opportunities for Intel: Over the last several years, chip giant Intel (NASDAQ: INTC) has aimed to reinvent itself as a company that's less dependent on the flat-to-declining personal computer market and more dependent on markets that are growing, like data center processors and flash memory . That transformation, by and large, continues to be successful, as Intel has managed to deliver multiple years of reasonable revenue growth and substantial profit growth. The company expects revenue to grow again during 2018, even as it projects a decline in the personal computer total addressable market. Here are three potential growth opportunities for Intel that investors should keep a close eye on. An Intel desktop processor. Image source: Intel. 1. Memory Intel has sold storage drives based on NAND flash memory for years, but back in 2015, the company publicly announced its decision to really go all-in on memory technologies. The company converted one of its logic chip factories -- known as Fab. 68 -- into a memory chip factory. It has also increased its investments in technology development related to non-volatile memory technologies (both NAND flash and a new type of memory known as 3D XPoint) in recent years. That bet really began to pay off in 2017, as revenue in its non-volatile memory solutions group, or NSG, surged 36.6% that year. NSG accounted for about 5.7% of the company's revenue in 2017. Though profitability in this segment remains elusive -- NSG lost about $300 million last year -- the losses don't reflect poor gross profit margins on its memory products but rather the significant fixed technology development costs associated with memory technology. Its memory technology is increasingly competitive and the market for non-volatile memory continues to boom, so as Intel ramps up scale here, this segment should be a nice source of profitability for the company over the long term. 2. Network processors Intel has talked a lot about the opportunity that it sees in the market for network processors. According to the company's 2017 investor day materials, the total market for network processors was worth about $19.3 billion in 2017 and Intel's share was relatively low. Moreover, the company said that it outgrew the overall market by a factor of 10, suggesting significant market share gains in that year. Story continues Over the long term, as Intel designs increasingly targeted products for this market and continues to work with major networking customers to transition their software to Intel architecture, the company is poised to grow its share of the market. That growth, coupled with the potential growth of the overall market, could mean significant high-margin revenue growth for the company's network processor business, which is a part of the company's data center group (DCG) reporting segment, which accounted for about 31% of revenue last year. 3. Graphics processors In November 2017, Intel formally announced that it would be developing its own high-performance, stand-alone graphics processors. Although it's unlikely that the company is going to start generating significant revenue from such products this year or even next year (I'd bet on the first Intel-designed stand-alone graphics processors arriving sometime in 2020), the reality is that the market for high-performance graphics processors is large and seems to be booming. If Intel can persevere and eventually come to market with compelling stand-alone graphics processors, then it stands a chance of generating a significant amount of revenue from sales of such chips, accelerating the company's overall growth rate. More From The Motley Fool 3 Growth Stocks at Deep-Value Prices 5 Expected Social Security Changes in 2018 6 Years Later, 6 Charts That Show How Far Apple, Inc. Has Come Since Steve Jobs' Passing 10 Best Stocks to Buy Today The $16,122 Social Security Bonus You Cannot Afford to Miss Bitcoin's Biggest Competitor Isn't Ethereum -- It's This Ashraf Eassa owns shares of Intel. The Motley Fool recommends Intel. The Motley Fool has a disclosure policy . \|\| 3 Growth Opportunities for Intel: Over the last several years, chip giantIntel(NASDAQ: INTC)has aimed to reinvent itself as a company that's less dependent on the flat-to-declining personal computer market and more dependent on markets that are growing, like data center processors andflash memory. That transformation, by and large, continues to be successful, as Intel has managed to deliver multiple years of reasonable revenue growth and substantial profit growth. The company expects revenue to grow again during 2018, even as it projects a decline in the personal computer total addressable market. Here are three potential growth opportunities for Intel that investors should keep a close eye on. Image source: Intel. Intel has sold storage drives based on NAND flash memory for years, but back in 2015, the company publicly announced its decision to really go all-in on memory technologies. The company converted one of its logic chip factories -- known as Fab. 68 -- into a memory chip factory. It has also increased its investments in technology development related to non-volatile memory technologies (both NAND flash and a new type of memory known as 3D XPoint) in recent years. That bet really began to pay off in 2017, as revenue in its non-volatile memory solutions group, or NSG, surged 36.6% that year. NSG accounted for about 5.7% of the company's revenue in 2017. Though profitability in this segment remains elusive -- NSG lost about $300 million last year -- the losses don't reflect poor gross profit margins on its memory products but rather the significant fixed technology development costs associated with memory technology. Its memory technology is increasingly competitive and the market for non-volatile memory continues to boom, so as Intel ramps up scale here, this segment should be a nice source of profitability for the company over the long term. Intel has talked a lot about the opportunity that it sees in the market for network processors. According to the company's 2017 investor day materials, the total market for network processors was worth about $19.3 billion in 2017 and Intel's share was relatively low. Moreover, the company said that it outgrew the overall market by a factor of 10, suggesting significant market share gains in that year. Over the long term, as Intel designs increasingly targeted products for this market and continues to work with major networking customers to transition their software to Intel architecture, the company is poised to grow its share of the market. That growth, coupled with the potential growth of the overall market, could mean significant high-margin revenue growth for the company's network processor business, which is a part of the company's data center group (DCG) reporting segment, which accounted for about 31% of revenue last year. In November 2017, Intelformally announcedthat it would be developing its own high-performance, stand-alone graphics processors. Although it's unlikely that the company is going to start generating significant revenue from such products this year or even next year (I'd bet on the first Intel-designed stand-alone graphics processors arriving sometime in 2020), the reality is that the market for high-performance graphics processors is large and seems to be booming. If Intel can persevere and eventually come to market with compelling stand-alone graphics processors, then it stands a chance of generating a significant amount of revenue from sales of such chips, accelerating the company's overall growth rate. More From The Motley Fool • 3 Growth Stocks at Deep-Value Prices • 5 Expected Social Security Changes in 2018 • 6 Years Later, 6 Charts That Show How Far Apple, Inc. Has Come Since Steve Jobs' Passing • 10 Best Stocks to Buy Today • The $16,122 Social Security Bonus You Cannot Afford to Miss • Bitcoin's Biggest Competitor Isn't Ethereum -- It's This Ashraf Eassaowns shares of Intel. The Motley Fool recommends Intel. The Motley Fool has adisclosure policy. \|\| 3 Things to Watch in the Stock Market This Week: Stocks ticked lower last week following a brutal 5% decline in the prior week. The declines left both the Dow Jones Industrial Average (DJINDICES: ^DJI) and the S&P 500 (SNPINDEX: ^GSPC) in modestly negative territory so far this year, despite having been up nearly 8% by late January. ^SPX Chart ^SPX data by YCharts. As for the week ahead, Dave & Buster's (NASDAQ: PLAY) , CarMax (NYSE: KMX) and PriceSmart (NASDAQ: PSMT) each have earnings reports scheduled for release that could drive volatility in their stocks. Let's take a look at what investors can expect from these announcements. Dave & Buster's 2018 forecast Dave & Buster's stock has trailed the market since the entertainment chain revealed weakening traffic trends in early January . Rather than speeding up during the seasonally strong holiday weeks, comparable-store sales worsened from the third-quarter's 1.3% decline, to fall by 5% early in the fourth quarter. As a result, CEO Steve King and his management team now believe comps will be slightly negative for the full 2017 year. Dave & Buster's also lowered its profit forecast to between $108 million and $110 million compared to $91 million in 2016. On Tuesday, investors will be looking for an explanation from the company for that slowing demand, in addition to a credible plan to get growth back on track for the fiscal year that just started. Dave & Buster's should provide an update on the financial efficiency of its latest crop of stores, too, since the returns these locations generate form the support for management's plan to more than double its store base over the long run. CarMax's customer traffic Used-car giant CarMax will announce its fourth-quarter earnings results on Wednesday. Sales haven't been stellar in this business lately. In fact, revenue growth slowed in each of the last two quarters and fell below 3% in its most recent report . Thus, investors will be focused on whether that trend reversed itself over the holiday season. Story continues A car salesman hands over the keys to a customer. Image source: Getty Images. Amid a broader industry slowdown, CarMax has been struggling with weak customer traffic figures that have been partially offset by improving conversion rates. Look for the company to provide important updates on both these metrics on Wednesday. Gross profit per vehicle also is critical to the business, and that figure should hover at around $2,100, or about 11% of average selling prices. Looking further out, CarMax should update shareholders on its plans to expand into new markets at a pace of around 16 dealerships per year to continue making steady market-share progress in this large, but highly fragmented, industry. PriceSmart's membership income On Thursday, international warehouse club PriceSmart updates investors on its fiscal second-quarter earnings. Its top-line growth has been steady in recent months, with comps rising at a roughly 2% rate in each of the last three quarters. But that figure masks lots of volatility across the retailer's different regions. A customer browses the aisles at a warehouse retailer. Image source: Getty Images. Its Colombian segment, for example, grew by double digits last quarter , thanks to improving economic trends and a steadier exchange rate. Other markets, including Trinidad and Honduras, turned in far weaker results. Overall growth should be solid, though, given that comps improved by 4% in the month of February. On Thursday, investors will be looking for signs that PriceSmart paired those sales gains with steady profit margins and a healthy uptick in membership income. More From The Motley Fool 3 Growth Stocks at Deep-Value Prices 5 Expected Social Security Changes in 2018 6 Years Later, 6 Charts That Show How Far Apple, Inc. Has Come Since Steve Jobs' Passing 10 Best Stocks to Buy Today The $16,122 Social Security Bonus You Cannot Afford to Miss Bitcoin's Biggest Competitor Isn't Ethereum -- It's This Demitrios Kalogeropoulos has no position in any of the stocks mentioned. The Motley Fool owns shares of and recommends CarMax. The Motley Fool recommends Dave & Buster's Entertainment and PriceSmart. The Motley Fool has a disclosure policy . \|\| 3 Things to Watch in the Stock Market This Week: Stocks ticked lower last week following a brutal 5% decline in the prior week. The declines left both theDow Jones Industrial Average(DJINDICES: ^DJI)and theS&P 500(SNPINDEX: ^GSPC)in modestly negative territory so far this year, despite having been up nearly 8% by late January. ^SPXdata byYCharts. As for the week ahead,Dave & Buster's(NASDAQ: PLAY),CarMax(NYSE: KMX)andPriceSmart(NASDAQ: PSMT)each have earnings reports scheduled for release that could drive volatility in their stocks. Let's take a look at what investors can expect from these announcements. Dave & Buster's stock has trailed the market since the entertainment chain revealedweakening traffic trends in early January. Rather than speeding up during the seasonally strong holiday weeks, comparable-store sales worsened from the third-quarter's 1.3% decline, to fall by 5% early in the fourth quarter. As a result, CEO Steve King and his management team now believe comps will be slightly negative for the full 2017 year. Dave & Buster's also lowered its profit forecast to between $108 million and $110 million compared to $91 million in 2016. On Tuesday, investors will be looking for an explanation from the company for that slowing demand, in addition to a credible plan to get growth back on track for the fiscal year that just started. Dave & Buster's should provide an update on the financial efficiency of its latest crop of stores, too, since the returns these locations generate form the support for management's plan to more than double its store base over the long run. Used-car giant CarMax will announce its fourth-quarter earnings results on Wednesday. Sales haven't been stellar in this business lately. In fact, revenue growth slowed in each of the last two quarters andfell below 3% in its most recent report. Thus, investors will be focused on whether that trend reversed itself over the holiday season. Image source: Getty Images. Amid a broader industry slowdown, CarMax has been struggling with weak customer traffic figures that have been partially offset by improving conversion rates. Look for the company to provide important updates on both these metrics on Wednesday. Gross profit per vehicle also is critical to the business, and that figure should hover at around $2,100, or about 11% of average selling prices. Looking further out, CarMax should update shareholders on its plans to expand into new markets at a pace of around 16 dealerships per year to continue making steady market-share progress in this large, but highly fragmented, industry. On Thursday, international warehouse club PriceSmart updates investors on its fiscal second-quarter earnings. Its top-line growth has been steady in recent months, with comps rising at a roughly 2% rate in each of the last three quarters. But that figure masks lots of volatility across the retailer's different regions. Image source: Getty Images. Its Colombian segment, for example, grew bydouble digits last quarter, thanks to improving economic trends and a steadier exchange rate. Other markets, including Trinidad and Honduras, turned in far weaker results. Overall growth should be solid, though, given that comps improved by 4% in the month of February. On Thursday, investors will be looking for signs that PriceSmart paired those sales gains with steady profit margins and a healthy uptick in membership income. More From The Motley Fool • 3 Growth Stocks at Deep-Value Prices • 5 Expected Social Security Changes in 2018 • 6 Years Later, 6 Charts That Show How Far Apple, Inc. Has Come Since Steve Jobs' Passing • 10 Best Stocks to Buy Today • The $16,122 Social Security Bonus You Cannot Afford to Miss • Bitcoin's Biggest Competitor Isn't Ethereum -- It's This Demitrios Kalogeropouloshas no position in any of the stocks mentioned. The Motley Fool owns shares of and recommends CarMax. The Motley Fool recommends Dave & Buster's Entertainment and PriceSmart. The Motley Fool has adisclosure policy. \|\| Here's a Retirement Strategy That Can Promise You Won't Run Out of Money: Millions of Americans are poised to enter retirement in terrible financial shape. Fully 42% of them have $10,000 or less socked away for their future, per a recent GOBankingRatessurvey. Many of them are aware of their predicament, too, with the "2017 Retirement Confidence Survey" finding that 39% of respondents are not confident that they'll have enough money for a comfortable retirement. Fortunately, there's a way to shrink your odds of running out of money in retirement: the deferred annuity -- sometimes called a longevity annuity or longevity insurance. Image source: Getty Images. The idea of a very long life is typically appealing, but there's a downside to it, too, for many people: It means the money they socked away for retirement will have to last an extra-long time. The average age at which people retire these days is 63, so a typical retirement lasts from about age 63 to about age 81. Of course, that's just an average. While many people will die younger than 81, many others will live longer. An increasing number of Americans are even making it to age 100. Here are the chances of living to various ages, via Vanguard, using data from the Society of Actuaries: [{"Person/People": "62-year-old man", "Chance of Living to 85": "40%", "Chance of Living to 90": "19%", "Chance of Living to 95": "6%", "Chance of Living to 100": "1%"}, {"Person/People": "62-year-old woman", "Chance of Living to 85": "52%", "Chance of Living to 90": "31%", "Chance of Living to 95": "13%", "Chance of Living to 100": "4%"}, {"Person/People": "62-year-old man and woman", "Chance of Living to 85": "71%", "Chance of Living to 90": "44%", "Chance of Living to 95": "18%", "Chance of Living to 100": "5%"}, {"Person/People": "62-year-old man and man", "Chance of Living to 85": "64%", "Chance of Living to 90": "34%", "Chance of Living to 95": "11%", "Chance of Living to 100": "2%"}, {"Person/People": "62-year-old woman and woman", "Chance of Living to 85": "77%", "Chance of Living to 90": "52%", "Chance of Living to 95": "25%", "Chance of Living to 100": "8%"}] Data source:Vanguard calculator. The figures for the couples reflect the chance of either partner reaching that age. Clearly, many of us will live rather long lives. Image source: Getty Images. When buying an annuity, you typically hand over a lot of money to an insurance company in exchange for a bunch of regular payments over time. It's not quite that simple, though, as annuities come in many varieties: immediate vs. deferred (paying you immediately vs. starting at some point when you're older), fixed vs.variable(certain payouts vs. payouts tied to the performance of the market or part of the market), and lifetime vs. fixed-period (paying until death vs. paying for a certain span of time). For many, if not most, people, a fixed annuity, whether immediate or deferred, is the best choice, as variable and indexed annuities tend to be more problematic, with high fees and/or restrictive terms, among other issues. Annuity contracts will be more generous when interest rates are higher, but the chart below shows how much income they might deliver at recent rates. (Note that these figures are for immediate annuities -- we'll get to deferred annuities shortly.) [{"Person/People": "65-year-old man", "Cost": "$100,000", "Monthly Income": "$546", "Annual Income Equivalent": "$6,552"}, {"Person/People": "65-year-old woman", "Cost": "$100,000", "Monthly Income": "$522", "Annual Income Equivalent": "$6,264"}, {"Person/People": "70-year-old man", "Cost": "$100,000", "Monthly Income": "$628", "Annual Income Equivalent": "$7,536"}, {"Person/People": "70-year-old woman", "Cost": "$100,000", "Monthly Income": "$588", "Annual Income Equivalent": "$7,056"}, {"Person/People": "60-year-old man and woman", "Cost": "$200,000", "Monthly Income": "$846", "Annual Income Equivalent": "$10,152"}, {"Person/People": "65-year-old man and woman", "Cost": "$200,000", "Monthly Income": "$929", "Annual Income Equivalent": "$11,148"}, {"Person/People": "70-year-old man and woman", "Cost": "$200,000", "Monthly Income": "$1,028", "Annual Income Equivalent": "$12,336"}] Data source: immediateannuities.com. Image source: Getty Images. Deferred annuities will offer you more income for your dollars than immediate annuities, because the insurance company gets to hold on to your money -- the price you paid for the annuity -- for a while before paying you anything, and it can invest that money, growing it. They're called "deferred" because they're designed to begin paying you later in life, such as beginning at age 80, in order to help prevent your running out of money. The chart below shows some representative incomes at recent interest rates: [{"Person/People": "65-year-old man", "Cost": "$100,000", "Monthly/Annual Income Beginning in 10 Years": "$1,318 / $15,816", "Monthly/Annual Income Beginning in 15 Years": "$2,087 / $25,044"}, {"Person/People": "65-year-old woman", "Cost": "$100,000", "Monthly/Annual Income Beginning in 10 Years": "$1,135 / $13,620", "Monthly/Annual Income Beginning in 15 Years": "$1,730 / $20,760"}, {"Person/People": "65-year-old man and woman", "Cost": "$200,000", "Monthly/Annual Income Beginning in 10 Years": "$1,762 / $21,144", "Monthly/Annual Income Beginning in 15 Years": "$2,538 / $30,456"}] Data source: immediateannuities.com. If you're pretty sure your nest egg will last you from the beginning of your retirement until you're 80, you might buy a deferred annuity now that begins paying you at age 75 or age 80. That's a great way to ensure that you never run out of money. In fact, buying a deferred annuity that provides enough money to live on at, say, age 80, can mean you only have to have enough other savings to last you to age 80. That removes a lot of uncertainty and worry. Alternatively, if you're still many years from retirement and you've saved a lot of money already, you can buy a policy now that begins paying when you expect to retire. You'll forfeit a big chunk of change to do so, though, and that money will no longer be growing for you. Still, after crunching some numbers, you may find it's worth it. With deferred annuities, the longer the time span between when you buy and when you begin collecting, the lower the price should be. These annuities can pay you in regular installments or with a lump sum. A particular plus of the deferred annuity is that it pays you at a time in your life when your interest in managing your money -- or your ability to do so -- may have shrunk. As we age, many of us become at least somewhat cognitively impaired and the decisions we make may no longer be as sound as they used to be. Even if we reach old age with all our faculties intact, we may no longer want the responsibility of making lots of financial decisions regarding which stocks or bonds or funds to buy or sell, and when to do so. Enter the deferred annuity. It will just kick in at a time you have designated, paying you regularly. A deferred annuity can also serve as a kind of long-term-care insurance. If you want to have some guaranteed income available, should you need it for that, beginning around, say, age 75, you can buy a deferred annuity. There's a good chance it will be a better value than long-term-care insurance, which can be very costly and doesn't deliver unless you actually end up needing the care. With a deferred annuity, you'd receive the income to spend on long-term care or whatever else you'd like. It's now possible to buy annuities through employer-sponsored retirement accounts such as 401(k)s and also through IRAs. Another option is buying into an annuity over time, such as through Blueprint. The folks at Blueprint, a pension services company, explain: "You can start a Personal Pension with just $5,000, and contribute in (optional) installments as small as $100. Each contribution locks in a guaranteed amount of monthly retirement income and continues as long as you live." Annuities make a lot of sense for many of us, especially those without employer-provided pensions.Learn more about annuitiesbefore you buy one, though. More From The Motley Fool • 3 Growth Stocks at Deep-Value Prices • 5 Expected Social Security Changes in 2018 • 6 Years Later, 6 Charts That Show How Far Apple, Inc. Has Come Since Steve Jobs' Passing • 10 Best Stocks to Buy Today • The $16,122 Social Security Bonus You Cannot Afford to Miss • Bitcoin's Biggest Competitor Isn't Ethereum -- It's This The Motley Fool has adisclosure policy. \|\| Here's a Retirement Strategy That Can Promise You Won't Run Out of Money: Millions of Americans are poised to enter retirement in terrible financial shape. Fully 42% of them have $10,000 or less socked away for their future, per a recent GOBankingRates survey . Many of them are aware of their predicament, too, with the "2017 Retirement Confidence Survey" finding that 39% of respondents are not confident that they'll have enough money for a comfortable retirement. Fortunately, there's a way to shrink your odds of running out of money in retirement: the deferred annuity -- sometimes called a longevity annuity or longevity insurance. photo-like illustration of money coming out of a metal faucet. Image source: Getty Images. The downside to a long life The idea of a very long life is typically appealing, but there's a downside to it, too, for many people: It means the money they socked away for retirement will have to last an extra-long time. The average age at which people retire these days is 63, so a typical retirement lasts from about age 63 to about age 81. Of course, that's just an average. While many people will die younger than 81, many others will live longer. An increasing number of Americans are even making it to age 100. Here are the chances of living to various ages, via Vanguard, using data from the Society of Actuaries: Person/People Chance of Living to 85 Chance of Living to 90 Chance of Living to 95 Chance of Living to 100 62-year-old man 40% 19% 6% 1% 62-year-old woman 52% 31% 13% 4% 62-year-old man and woman* 71% 44% 18% 5% 62-year-old man and man* 64% 34% 11% 2% 62-year-old woman and woman* 77% 52% 25% 8% Data source: Vanguard calculator . *The figures for the couples reflect the chance of either partner reaching that age. Clearly, many of us will live rather long lives. timing is everything, printed on a torn piece of paper laid against a blue background Image source: Getty Images. Annuities in a nutshell When buying an annuity, you typically hand over a lot of money to an insurance company in exchange for a bunch of regular payments over time. It's not quite that simple, though, as annuities come in many varieties: immediate vs. deferred (paying you immediately vs. starting at some point when you're older), fixed vs. variable (certain payouts vs. payouts tied to the performance of the market or part of the market), and lifetime vs. fixed-period (paying until death vs. paying for a certain span of time). For many, if not most, people, a fixed annuity, whether immediate or deferred, is the best choice, as variable and indexed annuities tend to be more problematic, with high fees and/or restrictive terms, among other issues. Story continues Annuity contracts will be more generous when interest rates are higher, but the chart below shows how much income they might deliver at recent rates. (Note that these figures are for immediate annuities -- we'll get to deferred annuities shortly.) Person/People Cost Monthly Income Annual Income Equivalent 65-year-old man $100,000 $546 $6,552 65-year-old woman $100,000 $522 $6,264 70-year-old man $100,000 $628 $7,536 70-year-old woman $100,000 $588 $7,056 60-year-old man and woman $200,000 $846 $10,152 65-year-old man and woman $200,000 $929 $11,148 70-year-old man and woman $200,000 $1,028 $12,336 Data source: immediateannuities.com. close-up of hourglass, with green sandy substance slipping through it Image source: Getty Images. The deferred annuity Deferred annuities will offer you more income for your dollars than immediate annuities, because the insurance company gets to hold on to your money -- the price you paid for the annuity -- for a while before paying you anything, and it can invest that money, growing it. They're called "deferred" because they're designed to begin paying you later in life, such as beginning at age 80, in order to help prevent your running out of money. The chart below shows some representative incomes at recent interest rates: Person/People Cost Monthly/Annual Income Beginning in 10 Years Monthly/Annual Income Beginning in 15 Years 65-year-old man $100,000 $1,318 / $15,816 $2,087 / $25,044 65-year-old woman $100,000 $1,135 / $13,620 $1,730 / $20,760 65-year-old man and woman $200,000 $1,762 / $21,144 $2,538 / $30,456 Data source: immediateannuities.com. If you're pretty sure your nest egg will last you from the beginning of your retirement until you're 80, you might buy a deferred annuity now that begins paying you at age 75 or age 80. That's a great way to ensure that you never run out of money. In fact, buying a deferred annuity that provides enough money to live on at, say, age 80, can mean you only have to have enough other savings to last you to age 80. That removes a lot of uncertainty and worry. Alternatively, if you're still many years from retirement and you've saved a lot of money already, you can buy a policy now that begins paying when you expect to retire. You'll forfeit a big chunk of change to do so, though, and that money will no longer be growing for you. Still, after crunching some numbers, you may find it's worth it. With deferred annuities, the longer the time span between when you buy and when you begin collecting, the lower the price should be. These annuities can pay you in regular installments or with a lump sum. A particular plus of the deferred annuity is that it pays you at a time in your life when your interest in managing your money -- or your ability to do so -- may have shrunk. As we age, many of us become at least somewhat cognitively impaired and the decisions we make may no longer be as sound as they used to be. Even if we reach old age with all our faculties intact, we may no longer want the responsibility of making lots of financial decisions regarding which stocks or bonds or funds to buy or sell, and when to do so. Enter the deferred annuity. It will just kick in at a time you have designated, paying you regularly. A deferred annuity can also serve as a kind of long-term-care insurance. If you want to have some guaranteed income available, should you need it for that, beginning around, say, age 75, you can buy a deferred annuity. There's a good chance it will be a better value than long-term-care insurance, which can be very costly and doesn't deliver unless you actually end up needing the care. With a deferred annuity, you'd receive the income to spend on long-term care or whatever else you'd like. It's now possible to buy annuities through employer-sponsored retirement accounts such as 401(k)s and also through IRAs. Another option is buying into an annuity over time, such as through Blueprint. The folks at Blueprint, a pension services company, explain: "You can start a Personal Pension with just $5,000, and contribute in (optional) installments as small as $100. Each contribution locks in a guaranteed amount of monthly retirement income and continues as long as you live." Annuities make a lot of sense for many of us, especially those without employer-provided pensions. Learn more about annuities before you buy one, though. More From The Motley Fool 3 Growth Stocks at Deep-Value Prices 5 Expected Social Security Changes in 2018 6 Years Later, 6 Charts That Show How Far Apple, Inc. Has Come Since Steve Jobs' Passing 10 Best Stocks to Buy Today The $16,122 Social Security Bonus You Cannot Afford to Miss Bitcoin's Biggest Competitor Isn't Ethereum -- It's This The Motley Fool has a disclosure policy . \|\| How Safe Is AbbVie, Inc.'s Dividend Now?: AbbVie Inc.'s(NYSE: ABBV)treated shareholders to some hefty dividend bumps since its inception five years ago, but a 35% raise announced in February was the biggest yet. Not long after announcing the payout boostandanother $10 billion stock repurchase program, a high-profile clinical trialfailureknocked AbbVie's stock down a few pegs. At recent prices, AbbVie shares offer a nice 4% yield. That's more than twice as much as you'll get from the average dividend-paying stock in the benchmarkS&P 500index. If you're a cautious investor worried about a dividend that lookstoo good to be true, here's what you need to know about the pillars supporting AbbVie's rapidly rising payouts. Image source: Getty Images. Humira is the world's best-selling drug at the moment, but it's just a matter of time beforebiosimilarcompetition begins chipping away at its share of the rheumatoid arthritis (RA) market. Enough patents have expired to allow the Food and Drug Administration to approve two copycat versions, but additional patent litigation has kept them off the U.S. market.Amgen's(NASDAQ: AMGN)already agreed to delay Amjevita's U.S. launch until 2023, butBoehringer Ingelheimhasn't backed down with Cyltezo yet. I'd besurprisedif Cyltezo gets any further than Amjevita, but we can't rule out the possibility. Biosimilars aren't the only competitive threat that could make it hard for AbbVie to keep raising its dividend. Baricitinib from partnersIncyte(NASDAQ: INCY)andEli Lilly(NYSE: LLY)is already marketed in the European Union as Olumiant, but the FDA sent back the first baricitinib application Lilly submitted for more data. During clinical trials, adding Lilly's pills to standard care improved RA symptoms at a rate that bested Humira, and an eventual approval is widely expected. We'll know more about the Olumiant threat on April 23, when an independent advisory committee meets to discuss its risk-to-benefit profile in detail. In the meantime, AbbVie investors will want to keep an eye on how popular the oral therapy is among would-be Humira patients throughout Europe. Image source: Getty Images. AbbVie spent a stunning $5.8 billion for Rova-T in hopes it could earn a speedy approval to treat certain lung cancer patients. The assumption turned outwrong, but it probably won't ruin AbbVie's chances to keep raising the dividend in the years ahead. Humira and other products already on the market helped the company generate $9.4 billion infree cash flowlast year, which was a lot more than the company needed to make dividend payments that totaled $4.1 billion in 2017. Over the years, AbbVie's funneled Humira profits into a stable of experimental new drugs with potential blockbuster written all over them. Investors will be glad to know that Rova-T didn't even make mytop three list. Earlier this year, AbbVie predicted sales of drugs excluding Humira would rise from $9.8 billion in 2017 to $35 billion in 2025. The Rova-T letdown will knock several billion off that ambitious target, but there's a good chance the company's bottom line, and its dividend can continue expanding over the next decade. Image source: Getty Images. Dividend investments that depend entirely on potential drug launches are a terrible idea. Luckily, AbbVie's more recently launched offerings are already moving in the right direction. Leading the charge is a blood cancer tablet with sales that keep growing by leaps and bounds ever since it became the first chemo-free option for people recently diagnosed with the most common form of leukemia. AbbVie's share of Imbruvica's haul rose 41% last year to $2.5 billion, and AbbVie thinks it could go twice as high. AbbVie andRoche(NASDAQOTH: RHHBY)launched Venetoclax as a treatment for a very small, genetically defined group of leukemia patients in 2016. So far, sales haven't been worth mentioning, but results from a combination trial designed to expand Venetoclax to a larger population suggest it can still generate several billion annually for AbbVie. The rate of survival without disease progression at 24 months was 85% among patients given a combination of Rituxan plus Venetoclax, versus just 36% in the group given Rituxan plus a standard chemotherapy. Getting leukemia patients who've already relapsed to show initial responses to subsequent treatments is relatively easy, but the duration of those responses is generally poor. To see long-term eradication from these patients is just incredible, and a big reason AbbVie thinks Venclexta can become a $6 billion-per-year drug. MRK dividend. Data byYCharts. With a slightly diminished late-stage pipeline still ready to deliver the goods, and blood cancer products on the rise now, AbbVie has a good chance of avoiding the sort of long-term earnings contractions that have held backBristol-Myers SquibbandMerck's distributions. Thanks to patent cliffs for former lead earners, their earnings per share (EPS) are lower today than they were 20 years ago and both companies have struggled to keep payouts rising at a snail's pace. On a 10-year time frame, the same can be said forEli Lilly. As abiologic drug, Humira's eventual demise will be far less dramatic than the patent cliffs that have hobbled dividend growth for America's biggest pharmaceutical companies. That doesn't mean a steadily rising payout for the next two decades is guaranteed, but at 4% or better, you won't find a safer dividend in healthcare. More From The Motley Fool • 3 Growth Stocks at Deep-Value Prices • 5 Expected Social Security Changes in 2018 • 6 Years Later, 6 Charts That Show How Far Apple, Inc. Has Come Since Steve Jobs' Passing • 10 Best Stocks to Buy Today • The $16,122 Social Security Bonus You Cannot Afford to Miss • Bitcoin's Biggest Competitor Isn't Ethereum -- It's This Cory Renauerhas no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has adisclosure policy. \|\| How Safe Is AbbVie, Inc.'s Dividend Now?: AbbVie Inc. 's (NYSE: ABBV) treated shareholders to some hefty dividend bumps since its inception five years ago, but a 35% raise announced in February was the biggest yet. Not long after announcing the payout boost and another $10 billion stock repurchase program, a high-profile clinical trial failure knocked AbbVie's stock down a few pegs. At recent prices, AbbVie shares offer a nice 4% yield. That's more than twice as much as you'll get from the average dividend-paying stock in the benchmark S&P 500 index. If you're a cautious investor worried about a dividend that looks too good to be true , here's what you need to know about the pillars supporting AbbVie's rapidly rising payouts. The word dividends on a piece of paper on top of a $100 bill and the word income on another piece of paper next to that bill Image source: Getty Images. On the way down Humira is the world's best-selling drug at the moment, but it's just a matter of time before biosimilar competition begins chipping away at its share of the rheumatoid arthritis (RA) market. Enough patents have expired to allow the Food and Drug Administration to approve two copycat versions, but additional patent litigation has kept them off the U.S. market. Amgen 's (NASDAQ: AMGN) already agreed to delay Amjevita's U.S. launch until 2023, but Boehringer Ingelheim hasn't backed down with Cyltezo yet. I'd be surprised if Cyltezo gets any further than Amjevita, but we can't rule out the possibility. Biosimilars aren't the only competitive threat that could make it hard for AbbVie to keep raising its dividend. Baricitinib from partners Incyte (NASDAQ: INCY) and Eli Lilly (NYSE: LLY) is already marketed in the European Union as Olumiant, but the FDA sent back the first baricitinib application Lilly submitted for more data. During clinical trials, adding Lilly's pills to standard care improved RA symptoms at a rate that bested Humira, and an eventual approval is widely expected. We'll know more about the Olumiant threat on April 23, when an independent advisory committee meets to discuss its risk-to-benefit profile in detail. In the meantime, AbbVie investors will want to keep an eye on how popular the oral therapy is among would-be Humira patients throughout Europe. A man looking down at charts and graphs with his right hand on the side of his face. Image source: Getty Images. Shot missed AbbVie spent a stunning $5.8 billion for Rova-T in hopes it could earn a speedy approval to treat certain lung cancer patients. The assumption turned out wrong , but it probably won't ruin AbbVie's chances to keep raising the dividend in the years ahead. Humira and other products already on the market helped the company generate $9.4 billion in free cash flow last year, which was a lot more than the company needed to make dividend payments that totaled $4.1 billion in 2017. Over the years, AbbVie's funneled Humira profits into a stable of experimental new drugs with potential blockbuster written all over them. Investors will be glad to know that Rova-T didn't even make my top three list . Story continues Earlier this year, AbbVie predicted sales of drugs excluding Humira would rise from $9.8 billion in 2017 to $35 billion in 2025. The Rova-T letdown will knock several billion off that ambitious target, but there's a good chance the company's bottom line, and its dividend can continue expanding over the next decade. Kid wearing aviator goggles and a strapped camera around his neck riding a rocket going up into the clouds. Image source: Getty Images. Going up Dividend investments that depend entirely on potential drug launches are a terrible idea. Luckily, AbbVie's more recently launched offerings are already moving in the right direction. Leading the charge is a blood cancer tablet with sales that keep growing by leaps and bounds ever since it became the first chemo-free option for people recently diagnosed with the most common form of leukemia. AbbVie's share of Imbruvica's haul rose 41% last year to $2.5 billion, and AbbVie thinks it could go twice as high. AbbVie and Roche (NASDAQOTH: RHHBY) launched Venetoclax as a treatment for a very small, genetically defined group of leukemia patients in 2016. So far, sales haven't been worth mentioning, but results from a combination trial designed to expand Venetoclax to a larger population suggest it can still generate several billion annually for AbbVie. The rate of survival without disease progression at 24 months was 85% among patients given a combination of Rituxan plus Venetoclax, versus just 36% in the group given Rituxan plus a standard chemotherapy. Getting leukemia patients who've already relapsed to show initial responses to subsequent treatments is relatively easy, but the duration of those responses is generally poor. To see long-term eradication from these patients is just incredible, and a big reason AbbVie thinks Venclexta can become a $6 billion-per-year drug. MRK Dividend Chart MRK dividend . Data by YCharts . Know what to expect With a slightly diminished late-stage pipeline still ready to deliver the goods, and blood cancer products on the rise now, AbbVie has a good chance of avoiding the sort of long-term earnings contractions that have held back Bristol-Myers Squibb and Merck 's distributions. Thanks to patent cliffs for former lead earners, their earnings per share (EPS) are lower today than they were 20 years ago and both companies have struggled to keep payouts rising at a snail's pace. On a 10-year time frame, the same can be said for Eli Lilly . As a biologic drug , Humira's eventual demise will be far less dramatic than the patent cliffs that have hobbled dividend growth for America's biggest pharmaceutical companies. That doesn't mean a steadily rising payout for the next two decades is guaranteed, but at 4% or better, you won't find a safer dividend in healthcare. More From The Motley Fool 3 Growth Stocks at Deep-Value Prices 5 Expected Social Security Changes in 2018 6 Years Later, 6 Charts That Show How Far Apple, Inc. Has Come Since Steve Jobs' Passing 10 Best Stocks to Buy Today The $16,122 Social Security Bonus You Cannot Afford to Miss Bitcoin's Biggest Competitor Isn't Ethereum -- It's This Cory Renauer has no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy . View comments [Social Media Buzz] $BTC Current price of Bitcoin is $7030.00 #bitcoin \| More on #CryptoPresshttps://ift.tt/2lgMf2q \|\| 【上位5通貨の前日比と現在価格】 #BTC 744882.7 円（0.27%） #ETH 40903.3 円（-2.99%） #XRP 52.24 円（-3.79%） #BCH 70555.84 円（-4.52%） #LTC 12624.01 円（1.59%） 2018-04-02 13:00:02 \|\| UPDATED #verification video. along with updated payment methods: cash app • gift rocket • circle • google wallet • amazon • pp • btc • bch • eth • ltc: [email protected] #findom #humiliatrix #paypig #financialdomination https://t.co/LxKDF...	7456.11, 6853.84, 6811.47, 6636.32, 6911.09, 7023.52, 6770.73, 6834.76, 6968.32, 7889.25
Given the historical Bitcoin prices from the last 90 days, predict the next 10 daily closing prices. The historical prices are: 3882.70, 3854.36, 3851.05, 3854.79, 3859.58, 3864.42, 3847.18, 3761.56, 3896.38, 3903.94, 3911.48, 3901.13, 3963.31, 3951.60, 3905.23, 3909.16, 3906.72, 3924.37, 3960.91, 4048.73, 4025.23, 4032.51, 4071.19, 4087.48, 4029.33, 4023.97, 4035.83, 4022.17, 3963.07, 3985.08, 4087.07, 4069.11, 4098.37, 4106.66, 4105.40, 4158.18, 4879.88, 4973.02, 4922.80, 5036.68, 5059.82, 5198.90, 5289.77, 5204.96, 5324.55, 5064.49, 5089.54, 5096.59, 5167.72, 5067.11, 5235.56, 5251.94, 5298.39, 5303.81, 5337.89, 5314.53, 5399.37, 5572.36, 5464.87, 5210.52, 5279.35, 5268.29, 5285.14, 5247.35, 5350.73, 5402.70, 5505.28, 5768.29, 5831.17, 5795.71, 5746.81, 5829.50, 5982.46, 6174.53, 6378.85, 7204.77, 6972.37, 7814.92, 7994.42, 8205.17, 7884.91, 7343.90, 7271.21, 8197.69, 7978.31, 7963.33, 7680.07, 7881.85, 7987.37, 8052.54.	[Bitcoin Technical Analysis for 2019-05-25] Volume: 22256813107, RSI (14-day): 66.59, 50-day EMA: 6358.45, 200-day EMA: 5297.64 [Wider Market Context] None available. [Recent News (last 7 days)] It’s Water Under the Bridge as Zuckerberg & Winklevii Talk Crypto: Report: Mark Zuckerberg has reportedly turned to his former archnemeses Cameron and Tyler Winklevoss for advice on Facebook's new GlobalCoin. \| Source: (i) REUTERS/Charles Platiau (ii) REUTERS/Lucas Jackson/File Photo; Edited by CCN By CCN : Mark Zuckerberg has been collaborating with his old rivals, the Winklevoss twins , to launch a digital currency that can be used across Facebook, WhatsApp, Instagram and beyond, according to a report in the Financial Times . Facebook’s cryptocurrency, reportedly dubbed GlobalCoin , is expected to make its debut next year. The FT reports that Facebook is talking to crypto exchanges including Gemini, which was founded by Tyler and Cameron Winklevoss, in addition to Coinbase. The concept is that users of Facebook’s payment crypto would have the option to potentially hold their coins on a trading platform or convert it for another coin or cash. To us, it's always #GeminiSeason ✨ pic.twitter.com/J4U042FRAS — Gemini (@Gemini) May 21, 2019 Winklevoss Twins Bet Big on Bitcoin Aaron Sorkin’s blockbuster film “The Social Network” made the Winklevii famous. The movie tells the story of young Mark Zuckerberg jumping ship from the Winklevoss’ ConnectU network to start his own social media platform. The twins sued the Facebook founder in 2004 for stealing their idea. The judge awarded a $65 million settlement. Loathe to miss the next big disruption in technology, Cameron and Tyler Winklevoss plowed $11 million of their Facebook settlement into bitcoin in 2013 when 1 BTC was selling for $120. They claim to own around 1% of all bitcoin in existence. Their holdings reportedly made them the first known bitcoin billionaires during the bull run of 2017. It appears Mark Zuckerberg and the Winklevoss twins have patched things up since 2004. There might be a lot in it for all three tech entrepreneurs. After launching a New York-based bitcoin exchange Gemini Trust in 2015 and battling with the SEC to introduce a bitcoin ETF , the Winklevoss’ have both regulatory and technical experience to offer. Story continues Zuckerberg Copying the Winklevosses Again At this point one might be forgiven for thinking Mark Zuckerberg’s business strategy is to copy the Winklevosses. He cribs their business ideas to engineer them and market them better. Read the full story on CCN.com . \|\| It’s Water Under the Bridge as Zuckerberg & Winklevii Talk Crypto: Report: ByCCN:Mark Zuckerberghas been collaborating with his old rivals, theWinklevoss twins, to launch a digital currency that can be used across Facebook, WhatsApp, Instagram and beyond, according to a report in theFinancial Times. Facebook’s cryptocurrency,reportedly dubbed GlobalCoin, is expected to make its debut next year. The FT reports that Facebook is talking to crypto exchanges including Gemini, which was founded by Tyler and Cameron Winklevoss, in addition to Coinbase. The concept is that users of Facebook’s payment crypto would have the option to potentially hold their coins on a trading platform or convert it for another coin or cash. Aaron Sorkin’s blockbuster film “The Social Network” made the Winklevii famous. The movie tells the story of young Mark Zuckerberg jumping ship from the Winklevoss’ ConnectU network to start his own social media platform. The twins sued the Facebook founder in 2004 for stealing their idea. The judge awarded a $65 million settlement. Loathe to miss the next big disruption in technology, Cameron and Tyler Winklevossplowed $11 millionof their Facebook settlement into bitcoin in 2013 when 1 BTC was selling for $120. They claim to own around 1% of all bitcoin in existence. Their holdings reportedly made them the first knownbitcoin billionairesduring the bull run of 2017. It appears Mark Zuckerberg and the Winklevoss twins have patched things up since 2004. There might be a lot in it for all three tech entrepreneurs. After launching a New York-based bitcoin exchange Gemini Trust in 2015 and battling with the SEC to introduce abitcoin ETF, the Winklevoss’ have both regulatory and technical experience to offer. At this point one might be forgiven for thinking Mark Zuckerberg’s business strategy is to copy the Winklevosses. He cribs their business ideas to engineer them and market them better. Read the full story on CCN.com. \|\| Two Miners Purportedly Execute 51% Attack on Bitcoin Cash Blockchain: Twominershave reportedly executed a 51% attack on the bitcoin cash (BCH)blockchain, according totweetsby Cryptoconomy Podcast host Guy Swann on May 24. A 51% attackoccurswhen someone controls the majority of mining power on aProof-of-Workblockchain network. This means that the majority block verifier can prevent other users from mining and reverse transactions. While many have assumed that a 51% attack would be carried out with malicious intent, the above case happened as the two mining pools attempted to prevent an unidentified party from taking some coins that — due to acode update— were essentially “up for grabs.” According to Swann, two miners with majority control of the network — BTC.top and BTC.com — performed the attack in an effort to stop an unknown miner from taking coins that were sent to an “anyone can spend” address following the original hard fork in May 2017. As per Swann’s tweets: “When the unknown miner tried to take the coins themselves, http://BTC.TOP & http://BTC.COM saw & immediately decided to re-org & remove these [transactions] TXs, in favor of their own TXs, spending the same P2SH coins, + many others … So just 2 miners, in secret & w/ no trouble, took it upon themselves to remove 2 blocks w/ another’s TXs, & replace with their own.” 51% attacks have generally been considered an undesirable and unprofitable option to take funds, as it would require a massive amount of computing power, and once a network is considered compromised, users would ostensibly flee. According to statistics onCoin.Dance, BTC.top and BTC.com control 43% of the bitcoin cash mining pool. As Cointelegraphreported, the Ethereum Classic (ETC) blockchain experienced a 51% attack in January. Researchers at thecrypto exchangeGate.io reportedly found that an attacker had reversed four transactions, resulting in a loss of 54,200 ETC. The exchange promised to compensate the affected users, and advised other trading platforms to block transactions initiated by the attacker’s address. • BCH May Have Sustained $1.3 Million+ Double Spend: BitMex Research • Crypto Pioneer David Chaum: Pseudonymous Messaging With Integrated Payments Is Blockchain’s Killer App • Unconfirmed: Telegram’s TON Testnet Blockchain Light Client Uploaded to GitHub • Bitcoin Hits Highest Price Point in Over a Year, Pushing Toward $9,000 \|\| Two Miners Purportedly Execute 51% Attack on Bitcoin Cash Blockchain: Two miners have reportedly executed a 51% attack on the bitcoin cash ( BCH ) blockchain , according to tweets by Cryptoconomy Podcast host Guy Swann on May 24. A 51% attack occurs when someone controls the majority of mining power on a Proof-of-Work blockchain network. This means that the majority block verifier can prevent other users from mining and reverse transactions. While many have assumed that a 51% attack would be carried out with malicious intent, the above case happened as the two mining pools attempted to prevent an unidentified party from taking some coins that — due to a code update — were essentially “up for grabs.” According to Swann, two miners with majority control of the network — BTC.top and BTC.com — performed the attack in an effort to stop an unknown miner from taking coins that were sent to an “anyone can spend” address following the original hard fork in May 2017. As per Swann’s tweets: “When the unknown miner tried to take the coins themselves, http://BTC.TOP & http://BTC.COM saw & immediately decided to re-org & remove these [transactions] TXs, in favor of their own TXs, spending the same P2SH coins, + many others … So just 2 miners, in secret & w/ no trouble, took it upon themselves to remove 2 blocks w/ another’s TXs, & replace with their own.” 51% attacks have generally been considered an undesirable and unprofitable option to take funds, as it would require a massive amount of computing power, and once a network is considered compromised, users would ostensibly flee. According to statistics on Coin.Dance , BTC.top and BTC.com control 43% of the bitcoin cash mining pool. As Cointelegraph reported , the Ethereum Classic ( ETC ) blockchain experienced a 51% attack in January. Researchers at the crypto exchange Gate.io reportedly found that an attacker had reversed four transactions, resulting in a loss of 54,200 ETC. The exchange promised to compensate the affected users, and advised other trading platforms to block transactions initiated by the attacker’s address. Related Articles: BCH May Have Sustained $1.3 Million+ Double Spend: BitMex Research Crypto Pioneer David Chaum: Pseudonymous Messaging With Integrated Payments Is Blockchain’s Killer App Unconfirmed: Telegram’s TON Testnet Blockchain Light Client Uploaded to GitHub Bitcoin Hits Highest Price Point in Over a Year, Pushing Toward $9,000 \|\| Two Miners Purportedly Execute 51% Attack on Bitcoin Cash Blockchain: Twominershave reportedly executed a 51% attack on the bitcoin cash (BCH)blockchain, according totweetsby Cryptoconomy Podcast host Guy Swann on May 24. A 51% attackoccurswhen someone controls the majority of mining power on aProof-of-Workblockchain network. This means that the majority block verifier can prevent other users from mining and reverse transactions. While many have assumed that a 51% attack would be carried out with malicious intent, the above case happened as the two mining pools attempted to prevent an unidentified party from taking some coins that — due to acode update— were essentially “up for grabs.” According to Swann, two miners with majority control of the network — BTC.top and BTC.com — performed the attack in an effort to stop an unknown miner from taking coins that were sent to an “anyone can spend” address following the original hard fork in May 2017. As per Swann’s tweets: “When the unknown miner tried to take the coins themselves, http://BTC.TOP & http://BTC.COM saw & immediately decided to re-org & remove these [transactions] TXs, in favor of their own TXs, spending the same P2SH coins, + many others … So just 2 miners, in secret & w/ no trouble, took it upon themselves to remove 2 blocks w/ another’s TXs, & replace with their own.” 51% attacks have generally been considered an undesirable and unprofitable option to take funds, as it would require a massive amount of computing power, and once a network is considered compromised, users would ostensibly flee. According to statistics onCoin.Dance, BTC.top and BTC.com control 43% of the bitcoin cash mining pool. As Cointelegraphreported, the Ethereum Classic (ETC) blockchain experienced a 51% attack in January. Researchers at thecrypto exchangeGate.io reportedly found that an attacker had reversed four transactions, resulting in a loss of 54,200 ETC. The exchange promised to compensate the affected users, and advised other trading platforms to block transactions initiated by the attacker’s address. • BCH May Have Sustained $1.3 Million+ Double Spend: BitMex Research • Crypto Pioneer David Chaum: Pseudonymous Messaging With Integrated Payments Is Blockchain’s Killer App • Unconfirmed: Telegram’s TON Testnet Blockchain Light Client Uploaded to GitHub • Bitcoin Hits Highest Price Point in Over a Year, Pushing Toward $9,000 \|\| Bitcoin Cash Miners Undo Attacker’s Transactions With ‘51% Attack’: Schnorr Upgrade Set for Inclusion in Next Bitcoin Cash Hard Fork • Bitcoin Cash, Litecoin Futures Volumes Top $150 Million at Kraken Exchange • ‘A Sad Joke’: Bitcoin Cash’s Lead Coder Quits Bitcoin Unlimited Project \|\| Bitcoin Cash Miners Undo Attackers Transactions With 51% Attack: Schnorr Upgrade Set for Inclusion in Next Bitcoin Cash Hard Fork To coordinate a reorg to revert unknowns transactions. This is a 51% attack. The absolutely worst attack possible. Its there in the whitepaper. What about (miner and developer) decentralized and uncensorable cash? Only when convenient? Related Stories Bitcoin Cash, Litecoin Futures Volumes Top $150 Million at Kraken Exchange A Sad Joke: Bitcoin Cashs Lead Coder Quits Bitcoin Unlimited Project \|\| Bitcoin Cash Miners Undo Attacker’s Transactions With ‘51% Attack’: Schnorr Upgrade Set for Inclusion in Next Bitcoin Cash Hard Fork • Bitcoin Cash, Litecoin Futures Volumes Top $150 Million at Kraken Exchange • ‘A Sad Joke’: Bitcoin Cash’s Lead Coder Quits Bitcoin Unlimited Project \|\| Hut 8 Mining, The Largest Industrial Bitcoin Miner in Canada, CEO Clip Video: Vancouver, British Columbia--(Newsfile Corp. - May 24, 2019) - Andrew Kiguel, CEO of Hut 8 Mining, talks about their company that provides direct exposure to bitcoin. If you cannot view the video above, please visit: https://www.b-tv.com/hut-8-mining-exposure-to-bitcoin-ceo-clip-90sec/ Hut 8 Mining is being featured on BNN Bloomberg on May 25 - May 26, 2019, throughout the day and evenings. Hut 8 Mining (TSXV: HUT) hut8mining.com About CEO Clips: CEO Clips is the largest library of publicly traded company CEO videos in Canada and the US. These 90 second video profiles broadcast on national TV and online via 15 top financial sites including: Thomson Reuters, Bloomberg, Yahoo! Finance and Stockhouse.com. BTV - Business Television/CEO Clips Contact: Trina Schlingmann (604) 664-7401 x 5 [email protected] Corporate Logo To view the source version of this press release, please visit https://www.newsfilecorp.com/release/45030 \|\| Hut 8 Mining, The Largest Industrial Bitcoin Miner in Canada, CEO Clip Video: Vancouver, British Columbia--(Newsfile Corp. - May 24, 2019) - Andrew Kiguel, CEO of Hut 8 Mining, talks about their company that provides direct exposure to bitcoin. If you cannot view the video above, please visit:https://www.b-tv.com/hut-8-mining-exposure-to-bitcoin-ceo-clip-90sec/ Hut 8 Mining is being featured on BNN Bloomberg on May 25 - May 26, 2019, throughout the day and evenings. Hut 8 Mining (TSXV: HUT) hut8mining.com About CEO Clips: CEO Clipsis the largest library of publicly traded company CEO videos in Canada and the US. These 90 second video profiles broadcast on national TV and online via 15 top financial sites including: Thomson Reuters, Bloomberg, Yahoo! Finance and Stockhouse.com. BTV - Business Television/CEO Clips Contact: Trina Schlingmann (604) 664-7401 x [email protected] To view the source version of this press release, please visithttps://www.newsfilecorp.com/release/45030 \|\| Hut 8 Mining, The Largest Industrial Bitcoin Miner in Canada, CEO Clip Video: Vancouver, British Columbia--(Newsfile Corp. - May 24, 2019) - Andrew Kiguel, CEO of Hut 8 Mining, talks about their company that provides direct exposure to bitcoin. If you cannot view the video above, please visit:https://www.b-tv.com/hut-8-mining-exposure-to-bitcoin-ceo-clip-90sec/ Hut 8 Mining is being featured on BNN Bloomberg on May 25 - May 26, 2019, throughout the day and evenings. Hut 8 Mining (TSXV: HUT) hut8mining.com About CEO Clips: CEO Clipsis the largest library of publicly traded company CEO videos in Canada and the US. These 90 second video profiles broadcast on national TV and online via 15 top financial sites including: Thomson Reuters, Bloomberg, Yahoo! Finance and Stockhouse.com. BTV - Business Television/CEO Clips Contact: Trina Schlingmann (604) 664-7401 x [email protected] To view the source version of this press release, please visithttps://www.newsfilecorp.com/release/45030 \|\| Hedge or Seek Yield: What Advisors Need to Know: This article was originally published onETFTrends.com. Investors are still looking for ways to diversify and hedge against market volatility in a prolonged bull run, but traditional diversifiers like fixed-income assets are more at risk in the late business cycle. On the upcoming webcast,Hedge or Seek Yield: What Advisors Need to Know, Kevin McCreadie, Chief Executive Officer & Chief Investment Officer at AGF Management Limited, and Bill DeRoche, Chief Investment Officer & Portfolio Manager at AGF Investments LLC, will look to a strategic hedge to the equities market along with a source of yield and returns to help financial advisors better manage future downside risks and still participate in any further upside potential. For example, ETF investors can look to the recently launchedAGFiQ Dynamic Hedged U.S. Equity ETF (USHG)to diversify a traditional portfolio with alternative market exposures. The AGFiQ Dynamic Hedged U.S. Equity ETF provides exposure to a diversified portfolio of U.S. equities, while seeking to provide long-term capital appreciation with lower volatility using embedded downside risk management which seeks to protect capital. The ETF offers exposure to the long-term growth potential of U.S. equities using a multi-factor approach designed in an effort to have lower volatility and better risk-adjusted returns relative to the market through its use of a dynamic hedging model. ETF investors can also look to an ETF strategy that incorporates an “Anti-Beta” style to provide uncorrelated returns to stocks. TheAGFiQ U.S. Market Neutral Anti Beta ETF (BTAL)acts as a more traditional long/short strategy that goes long low beta stocks and short high beta stocks. Consequently, the ETF strategy can produce positive returns any time low beta outperforms high beta. BTAL provides investors with the means to capitalize on the spread return between low- and high-beta stocks within the S&P Dow Jones U.S. Index. When the market sells off and volatility rises, high-beta stocks tend to sell off more than low-beta stocks. On the other hand, during market recoveries, volatility diminishes and high-beta names outperform low-beta stocks. Additionally, investors may consider theAGFiQ Hedged Dividend Income ETF (DIVA) , which tracks the INDXX Hedged Dividend Income Index, to capture strong current yield capital appreciation potential with a risk profile similar to a corporate bond index. The fund holds 100 equally weighted securities within the universe of the largest 1000 US stocks that have paid consistent or growing dividends and which have the highest dividend yields. Additionally, the fund shorts approximately 150 to 200 stocks, within the same universe, that have the lowest-to-no dividend history and low yields. Due to its indexing methodology, investors may find higher yields than dividend stocks while potentially hedging against volatility of equity markets. Financial advisors who are interested in learning more about strategies for the current market environment canregister for the Tuesday, May 28 webcast here. POPULAR ARTICLES AND RESOURCES FROM ETFTRENDS.COM • SPY ETF Quote • VOO ETF Quote • QQQ ETF Quote • VTI ETF Quote • JNUG ETF Quote • Top 34 Gold ETFs • Top 34 Oil ETFs • Top 57 Financials ETFs • Bitcoin Up 3.16% as it Gains Tenability As Alternative Currency • Kevin O’Leary: Motherly Advice I Will Never Forget • Marijuana ETF YOLO Looks Toward A Budding Future • Vans, Nike Among 170 Footwear Companies Concerned About Tariffs • Bitcoin, Stablecoin, Blockchain, Enterprise Ledger … WTF? READ MORE AT ETFTRENDS.COM > \|\| Hedge or Seek Yield: What Advisors Need to Know: This article was originally published on ETFTrends.com. Investors are still looking for ways to diversify and hedge against market volatility in a prolonged bull run, but traditional diversifiers like fixed-income assets are more at risk in the late business cycle. On the upcoming webcast, Hedge or Seek Yield: What Advisors Need to Know , Kevin McCreadie, Chief Executive Officer & Chief Investment Officer at AGF Management Limited, and Bill DeRoche, Chief Investment Officer & Portfolio Manager at AGF Investments LLC, will look to a strategic hedge to the equities market along with a source of yield and returns to help financial advisors better manage future downside risks and still participate in any further upside potential. For example, ETF investors can look to the recently launched AGFiQ Dynamic Hedged U.S. Equity ETF (USHG) to diversify a traditional portfolio with alternative market exposures. The AGFiQ Dynamic Hedged U.S. Equity ETF provides exposure to a diversified portfolio of U.S. equities, while seeking to provide long-term capital appreciation with lower volatility using embedded downside risk management which seeks to protect capital. The ETF offers exposure to the long-term growth potential of U.S. equities using a multi-factor approach designed in an effort to have lower volatility and better risk-adjusted returns relative to the market through its use of a dynamic hedging model. ETF investors can also look to an ETF strategy that incorporates an “Anti-Beta” style to provide uncorrelated returns to stocks. The AGFiQ U.S. Market Neutral Anti Beta ETF (BTAL) acts as a more traditional long/short strategy that goes long low beta stocks and short high beta stocks. Consequently, the ETF strategy can produce positive returns any time low beta outperforms high beta. BTAL provides investors with the means to capitalize on the spread return between low- and high-beta stocks within the S&P Dow Jones U.S. Index. When the market sells off and volatility rises, high-beta stocks tend to sell off more than low-beta stocks. On the other hand, during market recoveries, volatility diminishes and high-beta names outperform low-beta stocks. Story continues Additionally, investors may consider the AGFiQ Hedged Dividend Income ETF ( DIVA ) , which tracks the INDXX Hedged Dividend Income Index, to capture strong current yield capital appreciation potential with a risk profile similar to a corporate bond index. The fund holds 100 equally weighted securities within the universe of the largest 1000 US stocks that have paid consistent or growing dividends and which have the highest dividend yields. Additionally, the fund shorts approximately 150 to 200 stocks, within the same universe, that have the lowest-to-no dividend history and low yields. Due to its indexing methodology, investors may find higher yields than dividend stocks while potentially hedging against volatility of equity markets. Financial advisors who are interested in learning more about strategies for the current market environment can register for the Tuesday, May 28 webcast here . POPULAR ARTICLES AND RESOURCES FROM ETFTRENDS.COM SPY ETF Quote VOO ETF Quote QQQ ETF Quote VTI ETF Quote JNUG ETF Quote Top 34 Gold ETFs Top 34 Oil ETFs Top 57 Financials ETFs Bitcoin Up 3.16% as it Gains Tenability As Alternative Currency Kevin O’Leary: Motherly Advice I Will Never Forget Marijuana ETF YOLO Looks Toward A Budding Future Vans, Nike Among 170 Footwear Companies Concerned About Tariffs Bitcoin, Stablecoin, Blockchain, Enterprise Ledger … WTF? READ MORE AT ETFTRENDS.COM > \|\| Knowing the developers: an analysis of Rippled: As part of our Knowing the developers series, we are going to to take a look at Rippled, the client responsible for ripple, the third-largest cryptocurrency by market cap. XRP and its associated company Ripple Labs have not been short of controversy. Ripple Labs has claimed it was gifted approximately 80 percent of the supply of XRP by open-source developers early on, but when this is held up to scrutiny it does not appear to be the case. Unlike the previous cryptocurrencies we’ve covered, Bitcoin and Ethereum, the Rippled client’s code was not always open-source. For example in its early days, when Ripple Labs developers were able to make direct changes to the protocol unilaterally, like changing the minimum balance for addresses from 200 XRP to 50. Join Genesis nowand continue reading,Knowing the developers: an analysis of Rippled! \|\| Knowing the developers: an analysis of Rippled: As part of our Knowing the developers series, we are going to to take a look at Rippled, the client responsible for ripple, the third-largest cryptocurrency by market cap. XRP and its associated company Ripple Labs have not been short of controversy. Ripple Labs has claimed it was gifted approximately 80 percent of the supply of XRP by open-source developers early on, but when this is held up to scrutiny it does not appear to be the case. Unlike the previous cryptocurrencies we’ve covered, Bitcoin and Ethereum, the Rippled client’s code was not always open-source. For example in its early days, when Ripple Labs developers were able to make direct changes to the protocol unilaterally, like changing the minimum balance for addresses from 200 XRP to 50. Join Genesis now and continue reading, Knowing the developers: an analysis of Rippled ! View comments \|\| AT&T is the first major US wireless carrier to let you pay via cryptocurrency: If youre an AT&T mobile customer, and you have some extra bitcoin lying around that youre not doing anything with, you can now use it to pay your phone bill. AT&T just became the first big US wireless carrier to announce that its customers can now use cryptocurrency to make payments, as greater acceptance of this digital medium of exchange can be seen at companies ranging from AT&T to cable provider Dish, which also lets its customers pay via cryptocurrency. Likewise, Facebook on Friday garnered headlines over a report that its set to launch its own cryptocurrency for use on the social network early next year. Related Stories: AT&T says it was perfectly legal to sell user location data, but stopped anyway AT&T CEO confirms that 5G subscription plans won't come cheap AT&T will unveil its new streaming service (and maybe ruin HBO Now) this fall About AT&Ts move, all customers need to do is select the BitPay option at MyAT&T. BitPay is an Atlanta-based bitcoin payment service provider, and its also worth noting: This is an option that only currently works online and via the myAT&T app, so its not as yet available for in-store payments. Were always looking for ways to improve and expand our services, said Kevin McDorman, vice president, AT&T Communications Finance Business Operations, in a statement about the new payment option. We have customers who use cryptocurrency, and we are happy we can offer them a way to pay their bills with the method they prefer. There are of course a slew of different cryptocurrency options out there, and AT&Ts announcement doesnt specify a particular kind. BitPays website, though, notes that currencies it supports include Bitcoin, Gemini USD, and Paxos, to name a few. As of now, its a safe bet to assume that crypto payments will probably remain a small minority of AT&Ts customer payment mix for the near future. Thats thanks to everything from the general publics unfamiliarity with the digital asset to obstacles like its fees and high volatility, the latter being two of the most frequent criticisms you hear. Story continues Still, expect to keep hearing more announcements like this as companies keep experimenting. Just a few weeks ago, for example, retailers like Whole Foods and GameStop likewise announced theyll be getting in on the act too, accepting cryptocurrency through the Flexa payment network. BGR Top Deals: Vizios surprisingly great compact sound bar is on sale for $79 Who would buy a $50 Echo Dot when this Alexa speaker is just as good for $19.99? Trending Right Now: Stunning new video shows off Apples leaked iPhone 11 design 10 movies and shows to watch on Netflix before theyre removed in June NASAs Kepler just spotted 18 new Earth-sized planets, but only one is worth dreaming about See the original version of this article on BGR.com \|\| AT&T is the first major US wireless carrier to let you pay via cryptocurrency: If youre an AT&T mobile customer, and you have some extra bitcoin lying around that youre not doing anything with, you can now use it to pay your phone bill. AT&T just became the first big US wireless carrier to announce that its customers can now use cryptocurrency to make payments, as greater acceptance of this digital medium of exchange can be seen at companies ranging from AT&T to cable provider Dish, which also lets its customers pay via cryptocurrency. Likewise, Facebook on Friday garnered headlines over a report that its set to launch its own cryptocurrency for use on the social network early next year. Related Stories: AT&T says it was perfectly legal to sell user location data, but stopped anyway AT&T CEO confirms that 5G subscription plans won't come cheap AT&T will unveil its new streaming service (and maybe ruin HBO Now) this fall About AT&Ts move, all customers need to do is select the BitPay option at MyAT&T. BitPay is an Atlanta-based bitcoin payment service provider, and its also worth noting: This is an option that only currently works online and via the myAT&T app, so its not as yet available for in-store payments. Were always looking for ways to improve and expand our services, said Kevin McDorman, vice president, AT&T Communications Finance Business Operations, in a statement about the new payment option. We have customers who use cryptocurrency, and we are happy we can offer them a way to pay their bills with the method they prefer. There are of course a slew of different cryptocurrency options out there, and AT&Ts announcement doesnt specify a particular kind. BitPays website, though, notes that currencies it supports include Bitcoin, Gemini USD, and Paxos, to name a few. As of now, its a safe bet to assume that crypto payments will probably remain a small minority of AT&Ts customer payment mix for the near future. Thats thanks to everything from the general publics unfamiliarity with the digital asset to obstacles like its fees and high volatility, the latter being two of the most frequent criticisms you hear. Story continues Still, expect to keep hearing more announcements like this as companies keep experimenting. Just a few weeks ago, for example, retailers like Whole Foods and GameStop likewise announced theyll be getting in on the act too, accepting cryptocurrency through the Flexa payment network. BGR Top Deals: Vizios surprisingly great compact sound bar is on sale for $79 Who would buy a $50 Echo Dot when this Alexa speaker is just as good for $19.99? Trending Right Now: Stunning new video shows off Apples leaked iPhone 11 design 10 movies and shows to watch on Netflix before theyre removed in June NASAs Kepler just spotted 18 new Earth-sized planets, but only one is worth dreaming about See the original version of this article on BGR.com \|\| Swiss Telecom Company Is Bringing Crypto Collectables to TV: Telecommunications giant Swisscom has unveiled a new approach to using non-fungible tokens (NFTs). The product, called Noow, will display art that you own and you and the artist will know how many copies of his or her works have been distributed. The app comes from a Zug-based, Dloop, which spun out of Swisscom’s accelerator, Kickbox . New App Lets You Create Instant Crypto Collectables From the Greater Zurich Area News : Digital art is displayed on screens in places such as hotels, restaurants and offices. Changing sequences or animations create a unique ambience. However, a lack of copy protection systems and distribution platforms means that these works are often used illegally. The startup dloop intends to change this situation with its NOOW app. The blockchain solution guarantees the ownership rights for buyers and payment for artists. The service will be available on Swisscom TV, a set top box service in Switzerland, and include 100 words by thirty artists. Stefanie Marlene Wenger will curate the first batch. Deutsche Börse, Swisscom Team Up to Build Digital Asset ‘Ecosystem’ Buyers get a certificate of authenticity and can see the art on their screen. They also know how many copies exist, allowing them to understand the rarity of their piece. It’s obviously a work in progress but as it stands, it’s a fun way to share the idea of cryptocollectables with a non-crypto audience. “Swisscom TV is one of the first providers in the world to offer art on the TV screen. We are delighted to have Swisscom on board for this courageous project,” said Rieder. “NOOW is making digital art into a collector’s object and creating a value for it.” Related Stories Bolivars to Bitcoin: Activists Take Down Venezuela’s Maduro in Crypto Art Exhibit Bitcoin Payments Aren’t Dead, They’ve Just Gone Niche \|\| Swiss Telecom Company Is Bringing Crypto Collectables to TV: Telecommunications giant Swisscom has unveiled a new approach to using non-fungible tokens (NFTs). The product, called Noow, will display art that you own and you and the artist will know how many copies of his or her works have been distributed. The app comes from a Zug-based, Dloop, which spun out of Swisscom’s accelerator,Kickbox. New App Lets You Create Instant Crypto Collectables From theGreater Zurich Area News: Digital art is displayed on screens in places such as hotels, restaurants and offices. Changing sequences or animations create a unique ambience. However, a lack of copy protection systems and distribution platforms means that these works are often used illegally. The service will be available on Swisscom TV, a set top box service in Switzerland, and include 100 words by thirty artists. Stefanie Marlene Wenger will curate the first batch. Deutsche Börse, Swisscom Team Up to Build Digital Asset ‘Ecosystem’ Buyers get a certificate of authenticity and can see the art on their screen. They also know how many copies exist, allowing them to understand the rarity of their piece. It’s obviously a work in progress but as it stands, it’s a fun way to share the idea of cryptocollectables with a non-crypto audience. “Swisscom TV is one of the first providers in the world to offer art on the TV screen. We are delighted to have Swisscom on board for this courageous project,” said Rieder. “NOOW is making digital art into a collector’s object and creating a value for it.” • Bolivars to Bitcoin: Activists Take Down Venezuela’s Maduro in Crypto Art Exhibit • Bitcoin Payments Aren’t Dead, They’ve Just Gone Niche \|\| Commodities ETF Sell-Off May Be a Buying Opportunity: This article was originally published onETFTrends.com. The recent trade-induced pullback in the commodities space may be a short-term, risk-off event that exchange traded fund investors can capitalize on. Goldman Sachs Group analysts including Sabine Schels argued that while rising macro concerns and escalating trade tensions have weighed on metals and agriculture prices, backwardation and a positive carry in the commodities market are beginning to offset those risks,Bloombergreports. The analysts pointed out that the benchmark S&P GSCI commodity index is showing positive roll returns for the first time in eight months, and the bank is projecting a 3-month return of 6.1%. In the wake of an escalating trade war between the U.S. and China, investor confidence in the global economy has waned as higher trade barriers diminish efficient productivity, dragging down on commodities prices. The S&P GSCI Enhanced Commodity Total Return Index declined about 4% this week and was heading toward its biggest loss since December as the U.S. considers blacklisting five Chinese companies in an escalation of trade tensions. However, Goldman cautiously views the recent pullback as a buying opportunity. The bank argued that an eventual trade deal between the two largest global economies as more likely than not, which would lift demand for cyclical raw materials and commodities in the second half. Meanwhile, on the supply side, tightening physical supplies for crude oil to live cattle and zinc is creating positive carry for rolling over futures contracts at expiration, which typically occurs in a backwardated market where later dated contracts look cheaper than near-term or expiring contracts. “Zinc backwardation has steepened on sharp inventory drawdowns, even though prices have dropped recently, while the petroleum product markets have tightened on refinery outages,” Goldman said. “Combined with modest near term spot price upside, the risk-reward thus reinforces adding length despite the current macro-induced volatility. This positive energy carry contributes to our expectations of positive commodity returns near-term.” Investors who are interested in the commodities space can look to broad commodity ETF plays to gain exposure to the asset class. For example, theGoldman Sachs Connect S&P GSCI Enhanced Commodity ETN (GSC) is an obvious choice since it tracks the S&P GSCI Enhanced Commodity Index that the bank is basing its projections on. Additionally, theiShares S&P GSCI Commodity-Indexed Trust (NYSEARCA: GSG)also tracks the benchmark. The underlying benchmark is comprised of a diversified group of commodities futures, with a heavy 62.6% til toward energy, followed by 15.4% agriculture, 10.1% industrial metals, 7.5% livestock and 4.4% precious metals. For more information on the commodities market, visit ourcommodity ETFs category. POPULAR ARTICLES AND RESOURCES FROM ETFTRENDS.COM • SPY ETF Quote • VOO ETF Quote • QQQ ETF Quote • VTI ETF Quote • JNUG ETF Quote • Top 34 Gold ETFs • Top 34 Oil ETFs • Top 57 Financials ETFs • Bitcoin Up 3.16% as it Gains Tenability As Alternative Currency • Kevin O’Leary: Motherly Advice I Will Never Forget • Marijuana ETF YOLO Looks Toward A Budding Future • Vans, Nike Among 170 Footwear Companies Concerned About Tariffs • Bitcoin, Stablecoin, Blockchain, Enterprise Ledger … WTF? READ MORE AT ETFTRENDS.COM > [Social Media Buzz] This is totally wrong and fake news article I have read today. Why the fud for? @cz_binance @binance #BNB \|\| 🤖 1 Hour Top 8 $USD Price: #BTC ⬆ $8006.97 (0.50%) #ETH ⬆ $251.45 (0.56%) #XRP ⬆ $0.386682 (0.19%) #BCH ⬆ $409.01 (0.39%) #EOS ⬆ $6.45 (0.31%) #LTC ⬆ $103.29 (0.79%) #BNB ⬆ $34.91 (1.69%) #ADA ⬆ $0.080989 (0.47%) https://t.co/4YdTWZOT4F #bitcoin #ethereum https://t.co/Y4SNTLANuE \|\| ☆》Blockchainist Are Like Religous Zealots《☆ So here is a realization I had this week . Blockchain futu...	8673.22, 8805.78, 8719.96, 8659.49, 8319.47, 8574.50, 8564.02, 8742.96, 8209.00, 7707.77
Given the historical Bitcoin prices from the last 90 days, predict the next 10 daily closing prices. The historical prices are: 12285.96, 12573.81, 12156.51, 11358.66, 11815.99, 11392.38, 10256.06, 10895.09, 9477.64, 9693.80, 10666.48, 10530.73, 10767.14, 10599.11, 10343.11, 9900.77, 9811.93, 9911.84, 9870.30, 9477.68, 9552.86, 9519.15, 9607.42, 10085.63, 10399.67, 10518.17, 10821.73, 10970.18, 11805.65, 11478.17, 11941.97, 11966.41, 11862.94, 11354.02, 11523.58, 11382.62, 10895.83, 10051.70, 10311.55, 10374.34, 10231.74, 10345.81, 10916.05, 10763.23, 10138.05, 10131.06, 10407.96, 10159.96, 10138.52, 10370.82, 10185.50, 9754.42, 9510.20, 9598.17, 9630.66, 9757.97, 10346.76, 10623.54, 10594.49, 10575.53, 10353.30, 10517.25, 10441.28, 10334.97, 10115.98, 10178.37, 10410.13, 10360.55, 10358.05, 10347.71, 10276.79, 10241.27, 10198.25, 10266.42, 10181.64, 10019.72, 10070.39, 9729.32, 8620.57, 8486.99, 8118.97, 8251.85, 8245.92, 8104.19, 8293.87, 8343.28, 8393.04, 8259.99, 8205.94, 8151.50.	[Bitcoin Technical Analysis for 2019-10-05] Volume: 12200497197, RSI (14-day): 27.02, 50-day EMA: 9515.76, 200-day EMA: 8739.36 [Wider Market Context] None available. [Recent News (last 7 days)] Bitcoin Cash sees slight gains, but signs point to further bearish days ahead: The ebbs and flows of the crypto market press on, as many of the top-20 cryptocurrencies by market cap are seeing green today, according to data from Messari . Bitcoin , for example, crossed the $8,200 temporarily, reaching the $8,204 per coin marka small increase of just 0.5 percent. Ethereum is currently trading at around $177 per token, nearly $5 per ETH increase from where it stood just 24 hours ago. XRP, meanwhile, remains more or less steady at around 25 cents per coin. Bitcoin Cash (BCH), Bitcoins little brother, if you will, is currently trading at around the $223 mark, an increase of just more than 2 percent over the last day. While this is good news for BCH holders, the currency lost quite a bit in value thanks to last weeks bloodbath. At that time, Bitcoin Cash was selling for more than $300 per coin. Meanwhile, technical charts suggest that Bitcoin Cash remains vulnerable to further bearish activity , according to FXStreet . The crypto is currently moving through a bearish pennant structure, though this could be the good news for day traders, as pennant structures can sometimes signify short-term results . The coin has nevertheless struggled to find support above the $250 per coin line, so if youre into reading the tea leaves, it could be a while longer before Bitcoin Cash regains the losses incurred over the last week. \|\| Bitcoin Cash sees slight gains, but signs point to further bearish days ahead: The ebbs and flows of thecryptomarket press on, as many of the top-20 cryptocurrencies by market cap are seeing green today, according to data fromMessari. Bitcoin, for example, crossed the $8,200 temporarily, reaching the $8,204 per coin mark—a small increase of just 0.5 percent.Ethereumis currently trading at around $177 per token, nearly $5 per ETH increase from where it stood just 24 hours ago. XRP, meanwhile, remains more or less steady at around 25 cents per coin. Bitcoin Cash(BCH), Bitcoin’s “little brother,” if you will, is currently trading at around the $223 mark, an increase of just more than 2 percent over the last day. While this is good news for BCH holders, the currency lost quite a bit in value thanks to last week’s bloodbath. At that time, Bitcoin Cashwas selling formore than $300 per coin. Meanwhile, technical charts suggest that Bitcoin Cash remains vulnerable tofurther bearish activity, according toFXStreet. The crypto is currently moving through a “bearish pennant structure,” though this could be the good news for day traders, as pennant structures can sometimessignify short-term results. The coin has nevertheless struggled to find support above the $250 per coin line, so if you’re into reading the tea leaves, it could be a while longer before Bitcoin Cash regains the losses incurred over the last week. \|\| Bitcoin Cash sees slight gains, but signs point to further bearish days ahead: The ebbs and flows of thecryptomarket press on, as many of the top-20 cryptocurrencies by market cap are seeing green today, according to data fromMessari. Bitcoin, for example, crossed the $8,200 temporarily, reaching the $8,204 per coin mark—a small increase of just 0.5 percent.Ethereumis currently trading at around $177 per token, nearly $5 per ETH increase from where it stood just 24 hours ago. XRP, meanwhile, remains more or less steady at around 25 cents per coin. Bitcoin Cash(BCH), Bitcoin’s “little brother,” if you will, is currently trading at around the $223 mark, an increase of just more than 2 percent over the last day. While this is good news for BCH holders, the currency lost quite a bit in value thanks to last week’s bloodbath. At that time, Bitcoin Cashwas selling formore than $300 per coin. Meanwhile, technical charts suggest that Bitcoin Cash remains vulnerable tofurther bearish activity, according toFXStreet. The crypto is currently moving through a “bearish pennant structure,” though this could be the good news for day traders, as pennant structures can sometimessignify short-term results. The coin has nevertheless struggled to find support above the $250 per coin line, so if you’re into reading the tea leaves, it could be a while longer before Bitcoin Cash regains the losses incurred over the last week. \|\| Financial Sector, Bank ETFs Could Find Support from Regulatory Relief: This article was originally published onETFTrends.com. The Federal Reserve could make major changes to bank rules and alleviate some of the pressure on the financial sector and related ETFs. The Fed said it would vote October 10 on a measure to ease liquidity and capital rules on large U.S. banks, working in plans that may lower regulatory costs for regional U.S. lenders under the $700 billion in assets, theWall Street Journalreports. “We’ve been working on a regulatory restructuring that is aggressive in its scope but responsible in its substance,” Fed Vice Chairman Randal Quarles said this summer. This could be good news for bank sector-specific ETFs, especially those that cover smaller banks, such as theInvesco KBW Bank ETF (KBWB) ,SPDR S&P Bank ETF (KBE) ,Invesco KBW Regional Bank Portfolio (KBWR) ,iShares U.S. Regional Banks ETF (IAT) andSPDR S&P Regional Banking ETF (KRE) . Central Bank Plans To Categorize The central bank plans to categorize large U.S. banks into four segments based on their size and other risk factors. Meanwhile, regional lenders would be either entirely free from certain capital and liquidity requirements or see those requirements reduced. “All but the very biggest banks doing business in the United States will receive significant regulatory relief,” Karen Petrou, head of Federal Financial Analytics, a regulatory advisory firm, told the WSJ. Regulators may even ease requirements that large banks plan annually for their own demise, or what are known as living wills. Fed previously in April proposed that the largest U.S. banks, including Bank of America Corp., JPMorgan Chase & Co. and Citigroup Inc., to produce living-will plans every four years rather than every year. Every two years banks would address capital and liquidity issues as core parts of their wind-down strategies, along with announcing any major shifts in their operations. The collective changes show a significant easing in the post-financial-crisis regulations since Dodd-Frank law was signed in to obviate another meltdown. For more information on Bank ETFs, visit ourBanks category. POPULAR ARTICLES AND RESOURCES FROM ETFTRENDS.COM • SPY ETF Quote • VOO ETF Quote • QQQ ETF Quote • VTI ETF Quote • JNUG ETF Quote • Top 34 Gold ETFs • Top 34 Oil ETFs • Top 57 Financials ETFs • ETF of the Week: iShares Russell 1000 Value ETF (IWD) • Liquid Strategies Presents Overlay Shares’ New Equity ETF Suite • Schwab Eliminates ETF, Stock and Options Commissions • European Stock ETF Could Offer Investors A Chance To Invest And Hedge Currencies • Bitcoin, Cryptocurrencies Tumble Over Past Week READ MORE AT ETFTRENDS.COM > \|\| Financial Sector, Bank ETFs Could Find Support from Regulatory Relief: This article was originally published on ETFTrends.com. The Federal Reserve could make major changes to bank rules and alleviate some of the pressure on the financial sector and related ETFs. The Fed said it would vote October 10 on a measure to ease liquidity and capital rules on large U.S. banks, working in plans that may lower regulatory costs for regional U.S. lenders under the $700 billion in assets, the Wall Street Journal reports. “We’ve been working on a regulatory restructuring that is aggressive in its scope but responsible in its substance,” Fed Vice Chairman Randal Quarles said this summer. This could be good news for bank sector-specific ETFs, especially those that cover smaller banks, such as the Invesco KBW Bank ETF ( KBWB ) , SPDR S&P Bank ETF ( KBE ) , Invesco KBW Regional Bank Portfolio ( KBWR ) , iShares U.S. Regional Banks ETF ( IAT ) and SPDR S&P Regional Banking ETF ( KRE ) . Central Bank Plans To Categorize The central bank plans to categorize large U.S. banks into four segments based on their size and other risk factors. Meanwhile, regional lenders would be either entirely free from certain capital and liquidity requirements or see those requirements reduced. “All but the very biggest banks doing business in the United States will receive significant regulatory relief,” Karen Petrou, head of Federal Financial Analytics, a regulatory advisory firm, told the WSJ. Regulators may even ease requirements that large banks plan annually for their own demise, or what are known as living wills. Fed previously in April proposed that the largest U.S. banks, including Bank of America Corp., JPMorgan Chase & Co. and Citigroup Inc., to produce living-will plans every four years rather than every year. Every two years banks would address capital and liquidity issues as core parts of their wind-down strategies, along with announcing any major shifts in their operations. The collective changes show a significant easing in the post-financial-crisis regulations since Dodd-Frank law was signed in to obviate another meltdown. Story continues For more information on Bank ETFs, visit our Banks category . POPULAR ARTICLES AND RESOURCES FROM ETFTRENDS.COM SPY ETF Quote VOO ETF Quote QQQ ETF Quote VTI ETF Quote JNUG ETF Quote Top 34 Gold ETFs Top 34 Oil ETFs Top 57 Financials ETFs ETF of the Week: iShares Russell 1000 Value ETF (IWD) Liquid Strategies Presents Overlay Shares’ New Equity ETF Suite Schwab Eliminates ETF, Stock and Options Commissions European Stock ETF Could Offer Investors A Chance To Invest And Hedge Currencies Bitcoin, Cryptocurrencies Tumble Over Past Week READ MORE AT ETFTRENDS.COM > \|\| The first block trade of Bakkt Bitcoin Futures has just been executed: The International Continental Exchange (ICE) todayannouncedthat the first block trade on the BakktBitcoinfutures contracts exchange submitted to ICE Futures U.S has been cleared. The trade, submitted on Tuesday, was between crypto investment fund Galaxy Digital and over-the-counter trading company XBTO. The size of the trade was not disclosed. The milestone is one of just several Bakkt has knocked since Bakkt launched last week. Bakkt Bitcoin Futures include the physical delivery of bitcoin against a futures contract—meaning that traders can bet on the price of Bitcoin in Bitcoin, rather than betting on the price of Bitcoin using U.S. dollars. It’s also the exchange backed by the toughest regulators. Other futures exchanges generally aren’t as regulated, meaning that the price of Bitcoin can be manipulated at the last second by traders desperate for a win. But Bakkt’s backed by the International Continental Exchange, which runs large exchanges—amongst them the New York Stock Exchange—and overseen by the CTFC, one of the country’s toughest regulators. “Each of these achievements, on top of tight bid/offer spreads and a growing base of participants and clearing firms, are contributing to the first end-to-end regulated futures contract from price discovery to custody and physical delivery,” President of ICE Futures U.S. Trabue Bland said in a statement. If only more people used the damn thing. Bakkt’s launch wasdisappointingcompared to a similar service launched back in 2017 by the Chicago Mercantile Exchange (CME). The CME’s exchange traded $460 million in its first week. Bakkt recorded just $5.8 million in trade volume—a disappointing start to a supremely hyped product, which has been widely cited asthe cause of Bitcoin’s latest price slump. \|\| The first block trade of Bakkt Bitcoin Futures has just been executed: The International Continental Exchange (ICE) todayannouncedthat the first block trade on the BakktBitcoinfutures contracts exchange submitted to ICE Futures U.S has been cleared. The trade, submitted on Tuesday, was between crypto investment fund Galaxy Digital and over-the-counter trading company XBTO. The size of the trade was not disclosed. The milestone is one of just several Bakkt has knocked since Bakkt launched last week. Bakkt Bitcoin Futures include the physical delivery of bitcoin against a futures contract—meaning that traders can bet on the price of Bitcoin in Bitcoin, rather than betting on the price of Bitcoin using U.S. dollars. It’s also the exchange backed by the toughest regulators. Other futures exchanges generally aren’t as regulated, meaning that the price of Bitcoin can be manipulated at the last second by traders desperate for a win. But Bakkt’s backed by the International Continental Exchange, which runs large exchanges—amongst them the New York Stock Exchange—and overseen by the CTFC, one of the country’s toughest regulators. “Each of these achievements, on top of tight bid/offer spreads and a growing base of participants and clearing firms, are contributing to the first end-to-end regulated futures contract from price discovery to custody and physical delivery,” President of ICE Futures U.S. Trabue Bland said in a statement. If only more people used the damn thing. Bakkt’s launch wasdisappointingcompared to a similar service launched back in 2017 by the Chicago Mercantile Exchange (CME). The CME’s exchange traded $460 million in its first week. Bakkt recorded just $5.8 million in trade volume—a disappointing start to a supremely hyped product, which has been widely cited asthe cause of Bitcoin’s latest price slump. \|\| The first block trade of Bakkt Bitcoin Futures has just been executed: The International Continental Exchange (ICE) today announced that the first block trade on the Bakkt Bitcoin futures contracts exchange submitted to ICE Futures U.S has been cleared. The trade, submitted on Tuesday, was between crypto investment fund Galaxy Digital and over-the-counter trading company XBTO. The size of the trade was not disclosed. The milestone is one of just several Bakkt has knocked since Bakkt launched last week. Bakkt Bitcoin Futures include the physical delivery of bitcoin against a futures contract—meaning that traders can bet on the price of Bitcoin in Bitcoin, rather than betting on the price of Bitcoin using U.S. dollars. It’s also the exchange backed by the toughest regulators. Other futures exchanges generally aren’t as regulated, meaning that the price of Bitcoin can be manipulated at the last second by traders desperate for a win. But Bakkt’s backed by the International Continental Exchange, which runs large exchanges—amongst them the New York Stock Exchange—and overseen by the CTFC, one of the country’s toughest regulators. “Each of these achievements, on top of tight bid/offer spreads and a growing base of participants and clearing firms, are contributing to the first end-to-end regulated futures contract from price discovery to custody and physical delivery,” President of ICE Futures U.S. Trabue Bland said in a statement. If only more people used the damn thing. Bakkt’s launch was disappointing compared to a similar service launched back in 2017 by the Chicago Mercantile Exchange (CME). The CME’s exchange traded $460 million in its first week. Bakkt recorded just $5.8 million in trade volume—a disappointing start to a supremely hyped product, which has been widely cited as the cause of Bitcoin’s latest price slump . \|\| Galaxy Digital, XBTO Just Made the First Block Trade of Bakkt Bitcoin Futures: Cryptocurrency investment fund Galaxy Digital and over-the-counter (OTC) trading firm XBTO have conducted the first-ever block trade of Bakkt’s bitcoin futures contract. Intercontinental Exchange (ICE), Bakkt’s parent company,announcedthe trade Friday but did not disclose its size. A block trade is a large transaction that takes place off the open market in order to avoid moving the price too much. The trade, which took place Tuesday, comes on the heels of a disappointing launch last week for the much-hyped Bakkt, whose on-exchange volume in its first five trading days totaled just over$5 million. Related:It’s Too Soon to Write Off Bakkt, Wall Street Analyst Tells ICE Investors Two years in the making, Bakkt is the first live market in the U.S. for bitcoin futures that are physically delivered, meaning the buyer receives the underlying commodity. Despite Bakkt’s inauspicious debut, Galaxy Digital and XBTO expressed confidence in the platform. “As the digital asset class continues to mature, we view the launch of Bakkt as a foundational piece of market infrastructure,” Galaxy Digital said in ICE’s press release. XBTO said in the release that it bought the first bitcoin daily futures last week, in addition to participating in the block trade. Related:Trading Volume for Bakkt’s Bitcoin Futures Hit Just $5 Million in First Week The new bitcoin futures contract has been closely watched by crypto investors, as well as in the broader financial industry, where it’s been billed as a product that might attract allocations from institutional money managers, including hedge funds, pension funds and endowments. Galaxy Digital is led by Mike Novogratz, a former Goldman Sachs executive who later helped run the hedge fund Fortress Investment Group. XBTO’s CEO is Philippe Bekhazi, a formerly of Citibank and Steven Cohen’s SAC Capital hedge fund. Friday’s press release from Atlanta-based ICE didn’t state whether the block trade was made in the exchange’s monthly- or daily-settled futures contracts. In the first two weeks since the start of trading, almost all activity has taken place in the monthly contract, but, even there, activity has disappointed. Some market analysts have even said that the sluggish uptake contributed to a drop last week in bitcoin prices, since it indicated a lack of demand among institutional investors – with most individual investors currently to gravitate toward the futures contracts started in late 2017 by the rival Chicago-based exchange CME. In the first four days of this week, just 260 of the Bakkt’s monthly futures contracts changed hands, worth about $2.1 million at the closing price of $8,152 per bitcoin on Thursday. While data wasn’t available for Friday, the pace of trading is down from last week’s volume of 623 contracts, which carried a value of just over $5 million. On Tuesday, when the block trade crossed, some 27 of the monthly contracts changed hands, for a value of just $226,584 based on that day’s closing price. No volume was reported in the daily contract for the day. Bitcoin prices were little changed in the 24 hours through 17:00 UTC on Tuesday, though were down sharply from over $10,000 prior to the Bakkt contracts’ debut on Sept. 19, based on CoinDesk’s Bitcoin Price Index. CoinDesk’s Michael Casey with Bakkt CEO Kelly Loeffler and ICE chairman and CEO Jeffrey Sprecher, image via CoinDesk archives • LedgerX Claims ‘Personal Animus’ Drove Ex-CFTC Chair to Stall Approvals • How Leverage Can Help With Bitcoin’s Price Discovery \|\| Galaxy Digital, XBTO Just Made the First Block Trade of Bakkt Bitcoin Futures: Cryptocurrency investment fund Galaxy Digital and over-the-counter (OTC) trading firm XBTO have conducted the first-ever block trade of Bakkt’s bitcoin futures contract. Intercontinental Exchange (ICE), Bakkt’s parent company,announcedthe trade Friday but did not disclose its size. A block trade is a large transaction that takes place off the open market in order to avoid moving the price too much. The trade, which took place Tuesday, comes on the heels of a disappointing launch last week for the much-hyped Bakkt, whose on-exchange volume in its first five trading days totaled just over$5 million. Related:It’s Too Soon to Write Off Bakkt, Wall Street Analyst Tells ICE Investors Two years in the making, Bakkt is the first live market in the U.S. for bitcoin futures that are physically delivered, meaning the buyer receives the underlying commodity. Despite Bakkt’s inauspicious debut, Galaxy Digital and XBTO expressed confidence in the platform. “As the digital asset class continues to mature, we view the launch of Bakkt as a foundational piece of market infrastructure,” Galaxy Digital said in ICE’s press release. XBTO said in the release that it bought the first bitcoin daily futures last week, in addition to participating in the block trade. Related:Trading Volume for Bakkt’s Bitcoin Futures Hit Just $5 Million in First Week The new bitcoin futures contract has been closely watched by crypto investors, as well as in the broader financial industry, where it’s been billed as a product that might attract allocations from institutional money managers, including hedge funds, pension funds and endowments. Galaxy Digital is led by Mike Novogratz, a former Goldman Sachs executive who later helped run the hedge fund Fortress Investment Group. XBTO’s CEO is Philippe Bekhazi, a formerly of Citibank and Steven Cohen’s SAC Capital hedge fund. Friday’s press release from Atlanta-based ICE didn’t state whether the block trade was made in the exchange’s monthly- or daily-settled futures contracts. In the first two weeks since the start of trading, almost all activity has taken place in the monthly contract, but, even there, activity has disappointed. Some market analysts have even said that the sluggish uptake contributed to a drop last week in bitcoin prices, since it indicated a lack of demand among institutional investors – with most individual investors currently to gravitate toward the futures contracts started in late 2017 by the rival Chicago-based exchange CME. In the first four days of this week, just 260 of the Bakkt’s monthly futures contracts changed hands, worth about $2.1 million at the closing price of $8,152 per bitcoin on Thursday. While data wasn’t available for Friday, the pace of trading is down from last week’s volume of 623 contracts, which carried a value of just over $5 million. On Tuesday, when the block trade crossed, some 27 of the monthly contracts changed hands, for a value of just $226,584 based on that day’s closing price. No volume was reported in the daily contract for the day. Bitcoin prices were little changed in the 24 hours through 17:00 UTC on Tuesday, though were down sharply from over $10,000 prior to the Bakkt contracts’ debut on Sept. 19, based on CoinDesk’s Bitcoin Price Index. CoinDesk’s Michael Casey with Bakkt CEO Kelly Loeffler and ICE chairman and CEO Jeffrey Sprecher, image via CoinDesk archives • LedgerX Claims ‘Personal Animus’ Drove Ex-CFTC Chair to Stall Approvals • How Leverage Can Help With Bitcoin’s Price Discovery \|\| The UK’s Financial Sector Leads the Way in AI Use: This article was originally published onETFTrends.com. When it comes to the United Kingdom, the financial sector leads the way when it comes to using artificial intelligence (AI), according to new research from Microsoft. For traders looking to leverage up in the financial sector, this could be a trading opportunity forDirexion Daily Financial Bull 3X ETF (FAS) andDirexion Daily Financial Bear 3X ETF (FAZ) , depending on where their intuitions are. Microsoft’s report showed that nearly three-quarters (72%) of banks, insurance firms and other financial institutions are incorporating the use of AI technology. When looking at the last 12 months, this shows a 7% increase and is 56% higher compared to the national average. Furthermore, thereportrevealed that businesses using AI are performing an average of 11.5% better versus those who have yet to adopt the technology—an increase of 5% compared to last year. “It is very early days for AI in the UK financial services industry, although UK banks are pretty much on the same level as the rest of Europe’s financial firms, if not slightly ahead,”wrotefinancial author and blogger Chris Skinner. “The banks in America and China are doing some really impressive stuff; for example, using an AI engine to analyse contracts and do in one second what previously took 360,000 hours of legal time. The biggest issue most institutions face is the fact they have 50 years of infrastructure that they need to now turn into a rationalised structure for intelligent customer servicing and marketing.” Future of Finance Will this development show more strength in the financial sector or disrupt current operations? FAS seeks daily investment results equal to 300% of the daily performance of the Russell 1000Â® Financial Services Index. The fund invests at least 80% of its net assets in financial instruments and securities of the index, ETFs that track the index and other financial instruments that provide daily leveraged exposure to the index or ETFs that track the index. The index is a subset of the Russell 1000Â® Index that measures the performance of the securities classified in the financial services sector of the large-capitalization U.S. equity market. FAZ seeks daily investment results that equate to 300% of the inverse (or opposite) of the daily performance of the Russell 1000® Financial Services Index. The fund invests in swap agreements, futures contracts, short positions or other financial instruments that, in combination, provide inverse or short leveraged exposure to the index equal to at least 80% of the fund’s net assets. The index is a subset of the Russell 1000® Index that measures the performance of the securities classified in the financial services sector of the large-capitalization U.S. equity market. For more market trends, visitETF Trends. POPULAR ARTICLES AND RESOURCES FROM ETFTRENDS.COM • SPY ETF Quote • VOO ETF Quote • QQQ ETF Quote • VTI ETF Quote • JNUG ETF Quote • Top 34 Gold ETFs • Top 34 Oil ETFs • Top 57 Financials ETFs • ETF of the Week: iShares Russell 1000 Value ETF (IWD) • Liquid Strategies Presents Overlay Shares’ New Equity ETF Suite • Schwab Eliminates ETF, Stock and Options Commissions • European Stock ETF Could Offer Investors A Chance To Invest And Hedge Currencies • Bitcoin, Cryptocurrencies Tumble Over Past Week READ MORE AT ETFTRENDS.COM > \|\| The UK’s Financial Sector Leads the Way in AI Use: This article was originally published on ETFTrends.com. When it comes to the United Kingdom, the financial sector leads the way when it comes to using artificial intelligence (AI), according to new research from Microsoft. For traders looking to leverage up in the financial sector, this could be a trading opportunity for Direxion Daily Financial Bull 3X ETF ( FAS ) and Direxion Daily Financial Bear 3X ETF ( FAZ ) , depending on where their intuitions are. Microsoft’s report showed that nearly three-quarters (72%) of banks, insurance firms and other financial institutions are incorporating the use of AI technology. When looking at the last 12 months, this shows a 7% increase and is 56% higher compared to the national average. Furthermore, the report revealed that businesses using AI are performing an average of 11.5% better versus those who have yet to adopt the technology—an increase of 5% compared to last year. “It is very early days for AI in the UK financial services industry, although UK banks are pretty much on the same level as the rest of Europe’s financial firms, if not slightly ahead,” wrote financial author and blogger Chris Skinner. “The banks in America and China are doing some really impressive stuff; for example, using an AI engine to analyse contracts and do in one second what previously took 360,000 hours of legal time. The biggest issue most institutions face is the fact they have 50 years of infrastructure that they need to now turn into a rationalised structure for intelligent customer servicing and marketing.” Future of Finance Will this development show more strength in the financial sector or disrupt current operations? FAS seeks daily investment results equal to 300% of the daily performance of the Russell 1000Â® Financial Services Index. The fund invests at least 80% of its net assets in financial instruments and securities of the index, ETFs that track the index and other financial instruments that provide daily leveraged exposure to the index or ETFs that track the index. The index is a subset of the Russell 1000Â® Index that measures the performance of the securities classified in the financial services sector of the large-capitalization U.S. equity market. FAZ seeks daily investment results that equate to 300% of the inverse (or opposite) of the daily performance of the Russell 1000® Financial Services Index. The fund invests in swap agreements, futures contracts, short positions or other financial instruments that, in combination, provide inverse or short leveraged exposure to the index equal to at least 80% of the fund’s net assets. The index is a subset of the Russell 1000® Index that measures the performance of the securities classified in the financial services sector of the large-capitalization U.S. equity market. Story continues For more market trends, visit ETF Trends . POPULAR ARTICLES AND RESOURCES FROM ETFTRENDS.COM SPY ETF Quote VOO ETF Quote QQQ ETF Quote VTI ETF Quote JNUG ETF Quote Top 34 Gold ETFs Top 34 Oil ETFs Top 57 Financials ETFs ETF of the Week: iShares Russell 1000 Value ETF (IWD) Liquid Strategies Presents Overlay Shares’ New Equity ETF Suite Schwab Eliminates ETF, Stock and Options Commissions European Stock ETF Could Offer Investors A Chance To Invest And Hedge Currencies Bitcoin, Cryptocurrencies Tumble Over Past Week READ MORE AT ETFTRENDS.COM > View comments \|\| The Proliferation of Cashless Payments Could Propel “EMQQ” ETF: This article was originally published on ETFTrends.com. The way cashless payments are growing, it may no longer be necessary to own a wallet or a purse. This trend, especially in emerging markets (EM) can fuel EM-focused funds like the Emerging Markets Internet & Ecommerce ETF ( EMQQ ) . One of the leading purveyors in cashless payments is China. It’s readily apparent that mobile payment options are trending to the upside. “Visitors to China will quickly observe that the country is rapidly transforming into a cashless society,” the fund noted in an email. “Alibaba (BABA), through its affiliation with Ant Financial and its Alipay payments platform, and Tencent, through its WeChatPay platform, dominate the Chinese payments landscape. A recent Brookings paper looks at and explains the differences between the U.S. and Chinese model and explores the future of the payments industry.” Given the sheer size of China, the numbers are staggering, but the rate of growth is even more impressive. “From virtually zero a decade ago, online payments in China have soared,” the fund said. “Mobile payment volume in China soared to over $41 trillion during 2018, according to the Brookings report. Both Alipay and WeChat Pay have over 1 billion users each. Over 90% of the Chinese population use one of the two platforms as their primary payment method. QR codes are ubiquitous in China. From large department stores to stands in a local market, online payments are the mode of exchange. Even panhandlers accept Alipay and WeChat Pay.” The growth of cashless payments is doing wonders for their ecommerce sector in general. It’s only a matter of time before the rest of the world adopts the trend and global growth will become apparent. Needing Emerging Markets “From zero, China has emerged as a powerhouse in the global payments industry,” the fund noted. “Cultural differences have created two significantly different payment systems. However, the Chinese model has been instrumental in facilitating the growth of eCommerce in China and is likely to continue to do so in the future.” EMQQ tracks an index of leading Internet and eCommerce companies serving Emerging Markets. It seeks to offer investors exposure to the growth of online consumption in the developing world. EMQQ holdings operate in diverse markets such as India, China, Brazil, Turkey, Nigeria, and Indonesia, to name a few. To be included, the companies must derive their profits from Ecommerce or Internet activities and include search engines, online retail, social networking, online video, e-payments, online gaming, and online travel. Story continues EMQQ is up 16.44% year-to-date, according to Yahoo Finance performance figures. Related: Why Investors Should Look to an Emerging Market E-Commerce ETF For traders, leveraged opportunities within EM can be utilized with the Direxion Daily MSCI Emerging Markets Bull 3X Shares ( EDC ) ETF. EDC seeks daily investment results, before fees and expenses, of 300 percent of the daily performance of the MSCI Emerging Markets Index. The fund invests at least 80 percent of its net assets in financial instruments, such as swap agreements, and securities of the index, ETFs that track the index and other financial instruments that provide daily leveraged exposure to the index or ETFs that track the index. The index is designed to represent the performance of large- and mid-capitalizations securities across 24 emerging market countries. For more market trends, visit the Leveraged & Inverse Channel . POPULAR ARTICLES AND RESOURCES FROM ETFTRENDS.COM SPY ETF Quote VOO ETF Quote QQQ ETF Quote VTI ETF Quote JNUG ETF Quote Top 34 Gold ETFs Top 34 Oil ETFs Top 57 Financials ETFs ETF of the Week: iShares Russell 1000 Value ETF (IWD) Liquid Strategies Presents Overlay Shares’ New Equity ETF Suite Schwab Eliminates ETF, Stock and Options Commissions European Stock ETF Could Offer Investors A Chance To Invest And Hedge Currencies Bitcoin, Cryptocurrencies Tumble Over Past Week READ MORE AT ETFTRENDS.COM > View comments \|\| The Proliferation of Cashless Payments Could Propel “EMQQ” ETF: This article was originally published on ETFTrends.com. The way cashless payments are growing, it may no longer be necessary to own a wallet or a purse. This trend, especially in emerging markets (EM) can fuel EM-focused funds like the Emerging Markets Internet & Ecommerce ETF ( EMQQ ) . One of the leading purveyors in cashless payments is China. It’s readily apparent that mobile payment options are trending to the upside. “Visitors to China will quickly observe that the country is rapidly transforming into a cashless society,” the fund noted in an email. “Alibaba (BABA), through its affiliation with Ant Financial and its Alipay payments platform, and Tencent, through its WeChatPay platform, dominate the Chinese payments landscape. A recent Brookings paper looks at and explains the differences between the U.S. and Chinese model and explores the future of the payments industry.” Given the sheer size of China, the numbers are staggering, but the rate of growth is even more impressive. “From virtually zero a decade ago, online payments in China have soared,” the fund said. “Mobile payment volume in China soared to over $41 trillion during 2018, according to the Brookings report. Both Alipay and WeChat Pay have over 1 billion users each. Over 90% of the Chinese population use one of the two platforms as their primary payment method. QR codes are ubiquitous in China. From large department stores to stands in a local market, online payments are the mode of exchange. Even panhandlers accept Alipay and WeChat Pay.” The growth of cashless payments is doing wonders for their ecommerce sector in general. It’s only a matter of time before the rest of the world adopts the trend and global growth will become apparent. Needing Emerging Markets “From zero, China has emerged as a powerhouse in the global payments industry,” the fund noted. “Cultural differences have created two significantly different payment systems. However, the Chinese model has been instrumental in facilitating the growth of eCommerce in China and is likely to continue to do so in the future.” EMQQ tracks an index of leading Internet and eCommerce companies serving Emerging Markets. It seeks to offer investors exposure to the growth of online consumption in the developing world. EMQQ holdings operate in diverse markets such as India, China, Brazil, Turkey, Nigeria, and Indonesia, to name a few. To be included, the companies must derive their profits from Ecommerce or Internet activities and include search engines, online retail, social networking, online video, e-payments, online gaming, and online travel. Story continues EMQQ is up 16.44% year-to-date, according to Yahoo Finance performance figures. Related: Why Investors Should Look to an Emerging Market E-Commerce ETF For traders, leveraged opportunities within EM can be utilized with the Direxion Daily MSCI Emerging Markets Bull 3X Shares ( EDC ) ETF. EDC seeks daily investment results, before fees and expenses, of 300 percent of the daily performance of the MSCI Emerging Markets Index. The fund invests at least 80 percent of its net assets in financial instruments, such as swap agreements, and securities of the index, ETFs that track the index and other financial instruments that provide daily leveraged exposure to the index or ETFs that track the index. The index is designed to represent the performance of large- and mid-capitalizations securities across 24 emerging market countries. For more market trends, visit the Leveraged & Inverse Channel . POPULAR ARTICLES AND RESOURCES FROM ETFTRENDS.COM SPY ETF Quote VOO ETF Quote QQQ ETF Quote VTI ETF Quote JNUG ETF Quote Top 34 Gold ETFs Top 34 Oil ETFs Top 57 Financials ETFs ETF of the Week: iShares Russell 1000 Value ETF (IWD) Liquid Strategies Presents Overlay Shares’ New Equity ETF Suite Schwab Eliminates ETF, Stock and Options Commissions European Stock ETF Could Offer Investors A Chance To Invest And Hedge Currencies Bitcoin, Cryptocurrencies Tumble Over Past Week READ MORE AT ETFTRENDS.COM > View comments \|\| Mark Cuban: Bitcoin is too “complicated” to go mainstream: Bitcoin has come a long way in it’s 10 years in existence—just not quite far enough, according to billionaire investor Mark Cuban. In a recent Q&A with Wired , Cuban laid into Bitcoin, saying it has “no intrinsic value,” among other unsavory things. In fact, Cuban said he’d rather hold bananas and baseball cards over Bitcoin, since he can collect cards and, er, eat the bananas when hungry. And, well, you just can’t say that about Bitcoin—or something. Justin Sun’s $4.6 million lunch with Warren Buffett is off (for now) But Cuban’s biggest problem with Bitcoin is that it’s just too complicated, he said. And for that reason, it’ll never go mainstream, claims the NBA franchise owner: “Crypto is so complicated for 99 percent of the population. Do you put it in a device? Do you print it out? How do you keep from being hacked, and who’s going to host it for you?” posited the billionaire tech entrepreneur who, evidently, finds new tech to be too much of a hassle for your average Joes. Of course, Cuban isn’t the only billionaire with not-so-nice things to say about Bitcoin. Warren Buffett, CEO of Berkshire Hathaway, has for years had his share of nasty comments to dole out. In an interview with CNBC last year, Buffett called Bitcoin a “fraud” and “worthless, artificial gold.” And even the president of the United States, Donald Trump , who is himself (allegedly) a billionaire is no fan of Bitcoin either. Last summer, Trump took to Twitter to make his feelings about crypto known. “I am not a fan of bitcoin and other cryptocurrencies, which are not money, and whose value is highly volatile and based on thin air. Unregulated crypto assets can facilitate unlawful behavior,” Trump said in a series of tweets . Nevertheless, for those looking for a silver lining in Cuban’s anti-Bitcoin remarks, he did admit to finding promise in Bitcoin’s underlying technology, and even compared Bitcoin to gold! “I say it’s like gold,” Cuban said. “Gold is a religion.” Yikes. Never mind—that’s probably not what Bitcoiners wanted to hear. View comments \|\| Mark Cuban: Bitcoin is too “complicated” to go mainstream: Bitcoinhas come a long way in it’s 10 years in existence—just not quite far enough, according to billionaire investor Mark Cuban. In a recentQ&AwithWired, Cuban laid into Bitcoin, saying it has “no intrinsic value,” among other unsavory things. In fact, Cuban said he’d rather hold bananas and baseball cards over Bitcoin, since he can collect cards and, er, eat the bananas when hungry. And, well, you just can’t say that about Bitcoin—or something. But Cuban’s biggest problem withBitcoinis that it’s just too complicated, he said. And for that reason, it’ll never go mainstream, claims the NBA franchise owner: “Crypto is so complicated for 99 percent of the population. Do you put it in a device? Do you print it out? How do you keep from being hacked, and who’s going to host it for you?” posited the billionaire tech entrepreneur who, evidently, findsnewtech to be too much of a hassle for your average Joes. Of course, Cuban isn’t the only billionaire with not-so-nice things to say about Bitcoin. Warren Buffett, CEO of Berkshire Hathaway, has for years had his share of nasty comments to dole out. In aninterviewwith CNBC last year, Buffett called Bitcoin a “fraud” and “worthless, artificial gold.” And even the president of the United States,Donald Trump, who is himself (allegedly) a billionaire is no fan of Bitcoin either. Last summer, Trump took to Twitter to make his feelings about crypto known. “I am not a fan of bitcoin and other cryptocurrencies, which are not money, and whose value is highly volatile and based on thin air. Unregulated crypto assets can facilitate unlawful behavior,” Trumpsaid in a series of tweets. Nevertheless, for those looking for a silver lining in Cuban’s anti-Bitcoin remarks, he did admit to finding promise in Bitcoin’s underlying technology, and even compared Bitcoin to gold! “I say it’s like gold,” Cuban said. “Gold is a religion.” Yikes. Never mind—that’s probably not what Bitcoiners wanted to hear. \|\| Mark Cuban: Bitcoin is too “complicated” to go mainstream: Bitcoinhas come a long way in it’s 10 years in existence—just not quite far enough, according to billionaire investor Mark Cuban. In a recentQ&AwithWired, Cuban laid into Bitcoin, saying it has “no intrinsic value,” among other unsavory things. In fact, Cuban said he’d rather hold bananas and baseball cards over Bitcoin, since he can collect cards and, er, eat the bananas when hungry. And, well, you just can’t say that about Bitcoin—or something. But Cuban’s biggest problem withBitcoinis that it’s just too complicated, he said. And for that reason, it’ll never go mainstream, claims the NBA franchise owner: “Crypto is so complicated for 99 percent of the population. Do you put it in a device? Do you print it out? How do you keep from being hacked, and who’s going to host it for you?” posited the billionaire tech entrepreneur who, evidently, findsnewtech to be too much of a hassle for your average Joes. Of course, Cuban isn’t the only billionaire with not-so-nice things to say about Bitcoin. Warren Buffett, CEO of Berkshire Hathaway, has for years had his share of nasty comments to dole out. In aninterviewwith CNBC last year, Buffett called Bitcoin a “fraud” and “worthless, artificial gold.” And even the president of the United States,Donald Trump, who is himself (allegedly) a billionaire is no fan of Bitcoin either. Last summer, Trump took to Twitter to make his feelings about crypto known. “I am not a fan of bitcoin and other cryptocurrencies, which are not money, and whose value is highly volatile and based on thin air. Unregulated crypto assets can facilitate unlawful behavior,” Trumpsaid in a series of tweets. Nevertheless, for those looking for a silver lining in Cuban’s anti-Bitcoin remarks, he did admit to finding promise in Bitcoin’s underlying technology, and even compared Bitcoin to gold! “I say it’s like gold,” Cuban said. “Gold is a religion.” Yikes. Never mind—that’s probably not what Bitcoiners wanted to hear. \|\| Momentum ETFs May Still Have Some Mojo: This article was originally published on ETFTrends.com. Momentum stocks and the related ETFs have recently been under scrutiny as concerns about the integrity of the bull market have emerged and some investors have rotated away from growth stocks into value fare. However, there's still a compelling case for momentum ETFs, such as the Invesco S&P 500 Momentum Portfolio ( SPMO ) . SPMO the S&P 500 Momentum Index, which is comprised of 100 high momentum S&P 500 components. “The Index tracks the performance of stocks in the S&P 500 Index that have a high “momentum score”. The Fund and Index are reconstituted and rebalanced twice a year on the third Fridays of March and September. Constituents are weighted by their market capitalization and their momentum score,” according to Invesco . Examining Momentum Strategy Most investors have heard the term momentum when applied to stocks. The momentum strategy is based on a simple idea, the theory about momentum states that stocks which have performed well in the past, should continue to perform well, while on the other hand, stocks which have performed poorly in the past, should continue to perform poorly. High momentum stocks are those that are capable of rising very fast in a short period of time, which makes them very attractive to potential buyers. However, in many cases, these stocks can also crash unexpectedly and carry significant risks as a result. When handled properly, however, momentum trading can be a rewarding method of profiting from the stock market. A key element of momentum stocks' performance is positive analyst revisions. “This is because, in the past, many companies released important information—such as advance warnings of earnings results—to selected institutional investors and analysts during meetings and conference calls at which the general public was excluded. Therefore, analysts’ change in views based on such knowledge was considered a key indicator of a stock’s fundamentals and future performance,” reports Evie Liu for Barron' s. Story continues Related: Sustainability And Growth With This Bond ETF As for SPMO, that momentum ETF is up 17% this year and has a history of outperforming the S&P 500. “Since its introduction in 2015, the total return in the Invesco S&P 500 Momentum ETF ( SPMO ) has outrun the S&P 500 by an average of 1.38 percentage points a year,” according to Barron's. For more investing ideas, visit ETFtrends.com . POPULAR ARTICLES AND RESOURCES FROM ETFTRENDS.COM SPY ETF Quote VOO ETF Quote QQQ ETF Quote VTI ETF Quote JNUG ETF Quote Top 34 Gold ETFs Top 34 Oil ETFs Top 57 Financials ETFs ETF of the Week: iShares Russell 1000 Value ETF (IWD) Liquid Strategies Presents Overlay Shares’ New Equity ETF Suite Schwab Eliminates ETF, Stock and Options Commissions European Stock ETF Could Offer Investors A Chance To Invest And Hedge Currencies Bitcoin, Cryptocurrencies Tumble Over Past Week READ MORE AT ETFTRENDS.COM > \|\| Momentum ETFs May Still Have Some Mojo: This article was originally published onETFTrends.com. Momentum stocks and the related ETFs have recently been under scrutiny as concerns about the integrity of the bull market have emerged and some investors have rotated away from growth stocks into value fare. However, there's still a compelling case for momentum ETFs, such as theInvescoS&P 500 Momentum Portfolio (SPMO) . SPMO the S&P 500 Momentum Index, which is comprised of 100 high momentum S&P 500 components. “The Index tracks the performance of stocks in the S&P 500 Index that have a high “momentum score”. The Fund and Index are reconstituted and rebalanced twice a year on the third Fridays of March and September. Constituents are weighted by their market capitalization and their momentum score,”according to Invesco. Examining Momentum Strategy Most investors have heard the term momentum when applied to stocks. The momentum strategy is based on a simple idea, the theory about momentum states that stocks which have performed well in the past, should continue to perform well, while on the other hand, stocks which have performed poorly in the past, should continue to perform poorly. High momentum stocks are those that are capable of rising very fast in a short period of time, which makes them very attractive to potential buyers. However, in many cases, these stocks can also crash unexpectedly and carry significant risks as a result. When handled properly, however, momentum trading can be a rewarding method of profiting from the stock market. A key element of momentum stocks' performance is positive analyst revisions. “This is because, in the past, many companies released important information—such as advance warnings of earnings results—to selected institutional investors and analysts during meetings and conference calls at which the general public was excluded. Therefore, analysts’ change in views based on such knowledge was considered a key indicator of a stock’s fundamentals and future performance,”reports Evie Liu for Barron's. Related:Sustainability And Growth With This Bond ETF As for SPMO, that momentum ETF is up 17% this year and has a history of outperforming the S&P 500. “Since its introduction in 2015, the total return in theInvesco S&P 500 Momentum ETF(SPMO) has outrun the S&P 500 by an average of 1.38 percentage points a year,” according to Barron's. For more investing ideas, visitETFtrends.com. POPULAR ARTICLES AND RESOURCES FROM ETFTRENDS.COM • SPY ETF Quote • VOO ETF Quote • QQQ ETF Quote • VTI ETF Quote • JNUG ETF Quote • Top 34 Gold ETFs • Top 34 Oil ETFs • Top 57 Financials ETFs • ETF of the Week: iShares Russell 1000 Value ETF (IWD) • Liquid Strategies Presents Overlay Shares’ New Equity ETF Suite • Schwab Eliminates ETF, Stock and Options Commissions • European Stock ETF Could Offer Investors A Chance To Invest And Hedge Currencies • Bitcoin, Cryptocurrencies Tumble Over Past Week READ MORE AT ETFTRENDS.COM > \|\| Aerospace and Defense ETFs Look Industrial Stalwarts: This article was originally published on ETFTrends.com. The Industrial SPDR ETF (XLI) and rival industrial ETFs have been hampered by the US/China trade war and fears that the global economy is stalling with some countries flirting with recessions. However, some analysts still believe one corner of the industrial space looks attractive: aerospace and defense stocks. Among the high-fly acts in the aerospace ETF group is the SPDR S&P Aerospace & Defense ETF ( XAR ) and the iShares U.S. Aerospace & Defense ETF ( ITA ) . XAR seeks to provide investment results that correspond generally to the total return performance of the S&P Aerospace & Defense Select Industry Index, which represents the aerospace and defense segment of the S&P Total Market Index (“S&P TMI”). In seeking to track the performance of the S&P Aerospace & Defense Select Industry Index (the “index”), the fund employs a sampling strategy. ITA seeks to track the investment results of the Dow Jones U.S. Select Aerospace & Defense Index composed of U.S. equities in the aerospace and defense sector. The fund generally invests at least 90% of its assets in securities of the underlying index and in depositary receipts representing securities of the underlying index, which measures the performance of the aerospace and defense sector of the U.S. equity market. Aerospace companies in the index include manufacturers, assemblers and distributors of aircraft and aircraft parts. Talking Technicals “Looking underneath the surface, aerospace and defense flags favorably in our work. I think you’re looking to buy those names on this market pullback and steer clear of the transports,” said Oppenheimer technical analyst Ari Wald in an interview with CNBC . The Federal Reserve’s recent interest rate cut could be a boost for defense names because industrials usually benefit from lower rates. Some of the sectors likely to receive a boost after the Fed starts cutting rates include Materials, Industrials, Consumer Discretionary, and Consumer Staples. Story continues “The industrials sector has managed to perform in line with the S&P 500 this year even as the uncertainty of trade policy with China keeps investors wary. The XLI ETF is up 17% in 2019, though down 2% in the past three months,” according to CNBC. For more information on the aerospace industry, visit our aerospace & defense category . POPULAR ARTICLES AND RESOURCES FROM ETFTRENDS.COM SPY ETF Quote VOO ETF Quote QQQ ETF Quote VTI ETF Quote JNUG ETF Quote Top 34 Gold ETFs Top 34 Oil ETFs Top 57 Financials ETFs ETF of the Week: iShares Russell 1000 Value ETF (IWD) Liquid Strategies Presents Overlay Shares’ New Equity ETF Suite Schwab Eliminates ETF, Stock and Options Commissions European Stock ETF Could Offer Investors A Chance To Invest And Hedge Currencies Bitcoin, Cryptocurrencies Tumble Over Past Week READ MORE AT ETFTRENDS.COM > [Social Media Buzz] @jja_fr Posted... https://t.co/pWBzaLuhap \|\| Tom Lee: Bitcoin (BTC) Is Still Too Small For Institutions https://t.co/7ZP4vLpHbH \|\| Atualização cumulativa do Office 2013 para agosto de 2013 @1jl4com - MicrosoftBr - Twitter - News - Noticias - Bitcoin - CryptoCurrency https://t.co/q8h3GQYdZf \|\| I don’t think so \|\| BTC 「6000$〜7000$」 BTCにおいて、6000$、7000$は重要な意味を持ちます。最初にタッチした2月から4月、6月とサポートとして機能しています。さらに6月の底打ち後は、この値幅の中で、逆三尊、レンジが形成されました。課題は7000$をレジスタンスでなくサポートにすることでしょう。 https://t.co/mepTdWtKex ...	7988.16, 8245.62, 8228.78, 8595.74, 8586.47, 8321.76, 8336.56, 8321.01, 8374.69, 8205.37
Given the historical Bitcoin prices from the last 90 days, predict the next 10 daily closing prices. The historical prices are: 3896.38, 3903.94, 3911.48, 3901.13, 3963.31, 3951.60, 3905.23, 3909.16, 3906.72, 3924.37, 3960.91, 4048.73, 4025.23, 4032.51, 4071.19, 4087.48, 4029.33, 4023.97, 4035.83, 4022.17, 3963.07, 3985.08, 4087.07, 4069.11, 4098.37, 4106.66, 4105.40, 4158.18, 4879.88, 4973.02, 4922.80, 5036.68, 5059.82, 5198.90, 5289.77, 5204.96, 5324.55, 5064.49, 5089.54, 5096.59, 5167.72, 5067.11, 5235.56, 5251.94, 5298.39, 5303.81, 5337.89, 5314.53, 5399.37, 5572.36, 5464.87, 5210.52, 5279.35, 5268.29, 5285.14, 5247.35, 5350.73, 5402.70, 5505.28, 5768.29, 5831.17, 5795.71, 5746.81, 5829.50, 5982.46, 6174.53, 6378.85, 7204.77, 6972.37, 7814.92, 7994.42, 8205.17, 7884.91, 7343.90, 7271.21, 8197.69, 7978.31, 7963.33, 7680.07, 7881.85, 7987.37, 8052.54, 8673.22, 8805.78, 8719.96, 8659.49, 8319.47, 8574.50, 8564.02, 8742.96.	[Bitcoin Technical Analysis for 2019-06-02] Volume: 20266216022, RSI (14-day): 67.52, 50-day EMA: 6980.30, 200-day EMA: 5553.96 [Wider Market Context] None available. [Recent News (last 7 days)] Bitcoin Millionaire Admits Steamy Sex Affair, Denies Model’s Grisly Murder: ByCCN: Bitcoin tycoon and Everus World founder Alex Johnson and his wife engaged in a threesome that ended with the mysterious death of a Dutch model in December 2017. Ever since, the couple has been living as outcasts, moving from one city to another while hiding from the anger and threats of vigilantes. Now, after 18 months, the Johnsons have broken the silence, claiming their innocence in the grisly murder case and calling for an end to their “witch hunt.” While they denied their involvement in her death, the couple confessed that they had sex with the model on the night she plunged to her death in Kuala Lumpur, Malaysia. Bitcoin millionaire Alex Johnson and his wife Luna first met teenage model Ivana Smit in October 2017 in a Kuala Lumpur nightclub.WhatsApp messagesbetween the couple and Smit exposed that the trio spent multiple nights together in November and December 2017. On December 6, Smit went to a club where she drank heavily with the Johnsons. According to her agent, the Dutch model was “OK” at first, but she started to look for drugs later on. CCTV later recorded Alex Johnson carrying an apparently-intoxicated Smit into an elevator. Read the full story on CCN.com. \|\| Bitcoin Millionaire Admits Steamy Sex Affair, Denies Model’s Grisly Murder: ByCCN: Bitcoin tycoon and Everus World founder Alex Johnson and his wife engaged in a threesome that ended with the mysterious death of a Dutch model in December 2017. Ever since, the couple has been living as outcasts, moving from one city to another while hiding from the anger and threats of vigilantes. Now, after 18 months, the Johnsons have broken the silence, claiming their innocence in the grisly murder case and calling for an end to their “witch hunt.” While they denied their involvement in her death, the couple confessed that they had sex with the model on the night she plunged to her death in Kuala Lumpur, Malaysia. Bitcoin millionaire Alex Johnson and his wife Luna first met teenage model Ivana Smit in October 2017 in a Kuala Lumpur nightclub.WhatsApp messagesbetween the couple and Smit exposed that the trio spent multiple nights together in November and December 2017. On December 6, Smit went to a club where she drank heavily with the Johnsons. According to her agent, the Dutch model was “OK” at first, but she started to look for drugs later on. CCTV later recorded Alex Johnson carrying an apparently-intoxicated Smit into an elevator. Read the full story on CCN.com. \|\| EOS Falls 11% In Bearish Trade: Investing.com - EOS was trading at $7.7440 by 19:37 (23:37 GMT) on the Investing.com Index on Saturday, down 10.58% on the day. It was the largest one-day percentage loss since February 24. The move downwards pushed EOS's market cap down to $7.3484B, or 2.70% of the total cryptocurrency market cap. At its highest, EOS's market cap was $17.5290B. EOS had traded in a range of $7.7440 to $8.6201 in the previous twenty-four hours. Over the past seven days, EOS has seen a rise in value, as it gained 25.66%. The volume of EOS traded in the twenty-four hours to time of writing was $4.9302B or 6.28% of the total volume of all cryptocurrencies. It has traded in a range of $6.2097 to $8.6511 in the past 7 days. At its current price, EOS is still down 66.30% from its all-time high of $22.98 set on April 29, 2018. Elsewhere in cryptocurrency trading Bitcoin was last at $8,545.0 on the Investing.com Index, down 0.16% on the day. Ethereum was trading at $264.24 on the Investing.com Index, a loss of 1.42%. Bitcoin's market cap was last at $152.5777B or 56.00% of the total cryptocurrency market cap, while Ethereum's market cap totaled $28.3590B or 10.41% of the total cryptocurrency market value. Related Articles EOS Climbs 12% In a Green Day Tether Stablecoin Now Available on EOS Blockchain Binance Charity Foundation Signs Memorandum of Understanding With Ugandan NGO \|\| EOS Falls 11% In Bearish Trade: Investing.com - EOS was trading at $7.7440 by 19:37 (23:37 GMT) on the Investing.com Index on Saturday, down 10.58% on the day. It was the largest one-day percentage loss since February 24. The move downwards pushed EOS's market cap down to $7.3484B, or 2.70% of the total cryptocurrency market cap. At its highest, EOS's market cap was $17.5290B. EOS had traded in a range of $7.7440 to $8.6201 in the previous twenty-four hours. Over the past seven days, EOS has seen a rise in value, as it gained 25.66%. The volume of EOS traded in the twenty-four hours to time of writing was $4.9302B or 6.28% of the total volume of all cryptocurrencies. It has traded in a range of $6.2097 to $8.6511 in the past 7 days. At its current price, EOS is still down 66.30% from its all-time high of $22.98 set on April 29, 2018. Bitcoin was last at $8,545.0 on the Investing.com Index, down 0.16% on the day. Ethereum was trading at $264.24 on the Investing.com Index, a loss of 1.42%. Bitcoin's market cap was last at $152.5777B or 56.00% of the total cryptocurrency market cap, while Ethereum's market cap totaled $28.3590B or 10.41% of the total cryptocurrency market value. Related Articles EOS Climbs 12% In a Green Day Tether Stablecoin Now Available on EOS Blockchain Binance Charity Foundation Signs Memorandum of Understanding With Ugandan NGO \|\| WEF Head of Blockchain Sheila Warren: ‘This Tech Can Solve the Trust Crisis’: Head of Blockchain and Distributed Ledger Technology at the World Economic Forum ( WEF ), Sheila Warren, claims that blockchain could be a solution to the worsening trust crisis globally. Warren made her comments during an interview with Cointelegraph on May 31. During the interview, Warren claimed that public trust towards governments , banks , media and institutions, namely in the U.S., is “rapidly eroding.” She then noted that she thinks that blockchain, if used correctly, can be a solution to this problem: “This technology could provide access to information that could enable third parties or other groups to actually come in and conduct audits of what is happening. And I actually think that could build faith back in institutions.” Warren then continued explaining that she believes the implementation of such auditable systems would be laborious but being able to prove the fairness of public processes and the authenticity of various media would bring vast benefits. She also said that — if not solved — the trust crisis she referenced will have far reaching consequences: “In my opinion that [erosion of public trust] is one of the biggest crises we face. Because you’re going to rapidly move towards anarchy and that is a deep, deep problem.” Warren also admitted that had owned some bitcoin ( BTC ) “almost as a joke,” but she did not make the connection between bitcoin and blockchain for quite some time and it wasn’t until later that he learned about blockchain. She noted: “It took about another three years from when we first bought bitcoin for me to understand what blockchain was.” Warren also pointed out that the six councils recently formed by the WEF, dedicated to the fourth industrial revolution — which are also dedicated to blockchain technology — are also meant to be a trusted place for world leaders to experiment and share their challenges, concerns and success stories involving technology. Story continues At the beginning of the current month, news broke that the WEF has teamed up with over 100 global supply chain and logistics leaders to standardize blockchain apps in the industry. Related Articles: Brazilian State-Owned Bank Funds Documentary via Its Own Ethereum-Based Token State Farm and USAA Test Blockchain Platform for Insurance Claims Process Galaxy Digital Purportedly Recruits Former Head of OTC at Coinbase US Congressmen Urge Presidential Economic Advisor to Hold Blockchain Forum \|\| WEF Head of Blockchain Sheila Warren: ‘This Tech Can Solve the Trust Crisis’: Head of Blockchain and Distributed Ledger Technology at the World Economic Forum ( WEF ), Sheila Warren, claims that blockchain could be a solution to the worsening trust crisis globally. Warren made her comments during an interview with Cointelegraph on May 31. During the interview, Warren claimed that public trust towards governments , banks , media and institutions, namely in the U.S., is “rapidly eroding.” She then noted that she thinks that blockchain, if used correctly, can be a solution to this problem: “This technology could provide access to information that could enable third parties or other groups to actually come in and conduct audits of what is happening. And I actually think that could build faith back in institutions.” Warren then continued explaining that she believes the implementation of such auditable systems would be laborious but being able to prove the fairness of public processes and the authenticity of various media would bring vast benefits. She also said that — if not solved — the trust crisis she referenced will have far reaching consequences: “In my opinion that [erosion of public trust] is one of the biggest crises we face. Because you’re going to rapidly move towards anarchy and that is a deep, deep problem.” Warren also admitted that had owned some bitcoin ( BTC ) “almost as a joke,” but she did not make the connection between bitcoin and blockchain for quite some time and it wasn’t until later that he learned about blockchain. She noted: “It took about another three years from when we first bought bitcoin for me to understand what blockchain was.” Warren also pointed out that the six councils recently formed by the WEF, dedicated to the fourth industrial revolution — which are also dedicated to blockchain technology — are also meant to be a trusted place for world leaders to experiment and share their challenges, concerns and success stories involving technology. Story continues At the beginning of the current month, news broke that the WEF has teamed up with over 100 global supply chain and logistics leaders to standardize blockchain apps in the industry. Related Articles: Brazilian State-Owned Bank Funds Documentary via Its Own Ethereum-Based Token State Farm and USAA Test Blockchain Platform for Insurance Claims Process Galaxy Digital Purportedly Recruits Former Head of OTC at Coinbase US Congressmen Urge Presidential Economic Advisor to Hold Blockchain Forum \|\| Bitcoin Price Approaches $8,600 as Top Cryptos See Slight Gains: Saturday, June 1 most of the top 20 cryptocurrencies are reporting slight gains on the day by press time, as bitcoin ( BTC ) approaches the $8,600 mark. Market visualization courtesy of Coin360 Market visualization courtesy of Coin360 Bitcoin is up just over 1% on the day, trading at $8,532 at press time, according to CoinMarketCap . Looking at its weekly chart, the coin is up over 6%. Bitcoin 7-day price chart. Source: CoinMarketCap Bitcoin 7-day price chart. Source: CoinMarketCap Recently released research from United States -based blockchain intelligence firm Chainalysis indicates that only 1.3% of economic transactions for bitcoin came from merchants in the first four months of 2019. Ether ( ETH ) is holding onto its position as the largest altcoin by market cap, which currently stands at $28.2 billion. The second-largest altcoin, Ripples XRP , has a market cap of $18 billion at press time. CoinMarketCap data shows that ETH has also seen its value increase by about 1% over the last 24 hours. At press time, ETH is trading around $265. On the week, the coin has also seen its value increase almost 6%. Ether 7-day price chart. Source: CoinMarketCap Ether 7-day price chart. Source: CoinMarketCap XRP is up just a fraction of a percent over the last 24 hours and is currently trading at around $0.428 . On the week, the coin is up almost 11%. XRP 7-day price chart. Source: CoinMarketCap XRP 7-day price chart. Source: CoinMarketCap Among the top 20 cryptocurrencies, the tron ( TRX ) is reporting the most notable price action, up almost 20% on the day and 37% on the week by press time. At press time, the total market capitalization of all cryptocurrencies is $270.2 billion, nearly 8% higher than the value it reported a week ago. Total market capitalization 7-day chart. Source: CoinMarketCap Total market capitalization 7-day chart. Source: CoinMarketCap As Cointelegraph reported yesterday, G20's international watchdog, the Switzerland -based Financial Stability Board, said in its latest report that regulators need to improve their risk assessment strategies regarding financial activity in the crypto space. Today, Cointelegraph reported that the United States is the top source of traffic to cryptocurrency exchanges globally, with Japan coming in second place. Related Articles: Bitcoin and Top Altcoins See Losses as US Stock Market Sees Slight Uptrend Bitcoin and US Stock Market Both See Minor Losses Bitcoin Continues to See Negative Corrections After Breaking $9,000, US Stocks Tumble Top Coins Are Trading Sideways While Oil Reports Mixed Signals \|\| Bitcoin Price Approaches $8,600 as Top Cryptos See Slight Gains: Saturday, June 1 — most of the top 20cryptocurrenciesare reporting slight gains on the day by press time, as bitcoin (BTC) approaches the $8,600 mark. Market visualization courtesy ofCoin360 Bitcoin is up just over 1% on the day, trading at$8,532at press time, according toCoinMarketCap. Looking at its weekly chart, the coin is up over 6%. Bitcoin 7-day price chart. Source:CoinMarketCap Recently releasedresearchfromUnited States-basedblockchainintelligence firm Chainalysis indicates that only 1.3% of economic transactions for bitcoin came from merchants in the first four months of 2019. Ether (ETH) is holding onto its position as the largest altcoin by market cap, which currently stands at $28.2 billion. The second-largest altcoin, Ripple’sXRP, has a market cap of $18 billion at press time. CoinMarketCap data shows that ETH has also seen its value increase by about 1% over the last 24 hours. At press time, ETH is trading around $265. On the week, the coin has also seen its value increase almost 6%. Ether 7-day price chart. Source:CoinMarketCap XRP is up just a fraction of a percent over the last 24 hours and is currently trading at around$0.428. On the week, the coin is up almost 11%. XRP 7-day price chart. Source:CoinMarketCap Among the top 20 cryptocurrencies, the tron (TRX) is reporting the most notable price action, up almost 20% on the day and 37% on the week by press time. At press time, thetotal market capitalizationof all cryptocurrencies is $270.2 billion, nearly 8% higher than the value it reported a week ago. Total market capitalization 7-day chart. Source:CoinMarketCap As Cointelegraphreportedyesterday,G20'sinternational watchdog, theSwitzerland-based Financial Stability Board, said in its latest report that regulators need to improve their risk assessment strategies regarding financial activity in the crypto space. Today, Cointelegraphreportedthat the United States is the top source of traffic to cryptocurrency exchanges globally, with Japan coming in second place. • Bitcoin and Top Altcoins See Losses as US Stock Market Sees Slight Uptrend • Bitcoin and US Stock Market Both See Minor Losses • Bitcoin Continues to See Negative Corrections After Breaking $9,000, US Stocks Tumble • Top Coins Are Trading Sideways While Oil Reports Mixed Signals \|\| Bitcoin Price Approaches $8,600 as Top Cryptos See Slight Gains: Saturday, June 1 — most of the top 20cryptocurrenciesare reporting slight gains on the day by press time, as bitcoin (BTC) approaches the $8,600 mark. Market visualization courtesy ofCoin360 Bitcoin is up just over 1% on the day, trading at$8,532at press time, according toCoinMarketCap. Looking at its weekly chart, the coin is up over 6%. Bitcoin 7-day price chart. Source:CoinMarketCap Recently releasedresearchfromUnited States-basedblockchainintelligence firm Chainalysis indicates that only 1.3% of economic transactions for bitcoin came from merchants in the first four months of 2019. Ether (ETH) is holding onto its position as the largest altcoin by market cap, which currently stands at $28.2 billion. The second-largest altcoin, Ripple’sXRP, has a market cap of $18 billion at press time. CoinMarketCap data shows that ETH has also seen its value increase by about 1% over the last 24 hours. At press time, ETH is trading around $265. On the week, the coin has also seen its value increase almost 6%. Ether 7-day price chart. Source:CoinMarketCap XRP is up just a fraction of a percent over the last 24 hours and is currently trading at around$0.428. On the week, the coin is up almost 11%. XRP 7-day price chart. Source:CoinMarketCap Among the top 20 cryptocurrencies, the tron (TRX) is reporting the most notable price action, up almost 20% on the day and 37% on the week by press time. At press time, thetotal market capitalizationof all cryptocurrencies is $270.2 billion, nearly 8% higher than the value it reported a week ago. Total market capitalization 7-day chart. Source:CoinMarketCap As Cointelegraphreportedyesterday,G20'sinternational watchdog, theSwitzerland-based Financial Stability Board, said in its latest report that regulators need to improve their risk assessment strategies regarding financial activity in the crypto space. Today, Cointelegraphreportedthat the United States is the top source of traffic to cryptocurrency exchanges globally, with Japan coming in second place. • Bitcoin and Top Altcoins See Losses as US Stock Market Sees Slight Uptrend • Bitcoin and US Stock Market Both See Minor Losses • Bitcoin Continues to See Negative Corrections After Breaking $9,000, US Stocks Tumble • Top Coins Are Trading Sideways While Oil Reports Mixed Signals \|\| US, Japan Top Sources of Traffic to Crypto Exchanges Globally: Study: TheUnited Statesis the top source of traffic tocryptocurrency exchangesglobally, Cointelegraph Japanreportedon June 1. The research wasreleasedby crypto news outlet The Block on May 31. The study shows that 24.5% of the total traffic directed to crypto exchanges originates in the U.S.Japancame in second, with 10% of the total traffic, whileSouth Koreagot about 6.5% andIndonesiaabout 4.5%. Still, as The Block points out, some countries — for instanceChina—blockaccess to cryptocurrency exchanges and users from those places usually access them through Virtual Private Networks (VPNs). VPNs mask users’ IP addresses, making them appear as if they were from another country, decreasing the accuracy of this study. Lastly, The Block claims to have noticed a positive correlation between gross domestic product per capita and the volume of internet traffic directed towards cryptocurrency exchanges. The report noted: “Data shows poorer countries aren’t trading crypto as much as wealthier countries.” As Cointelegraphreportedearlier this week,Americancryptoinvestmentmanager Bitwise Asset Management released a paper claiming that fake trading volumes bycrypto exchangesdo not impact bitcoin’s (BTC)price. Earlier this month,news brokethatJapan’s Financial Services Agency is reportedly cracking down oncrypto exchangesthat offer anonymous transactions or have weak identity verification practices in preparation for inspection by the Financial Action Task Force this fall. • Coinbase President and COO Departs From the Company • LocalBitcoins Imposes Restrictions on Iranian Accounts • BitMEX Ventures Invests in Crypto Exchange Licensed by Philippines Central Bank • Crypto Exchange Bitfinex Temporarily Shuts Down Deposits and Withdrawals \|\| US, Japan Top Sources of Traffic to Crypto Exchanges Globally: Study: The United States is the top source of traffic to cryptocurrency exchanges globally, Cointelegraph Japan reported on June 1. The research was released by crypto news outlet The Block on May 31. The study shows that 24.5% of the total traffic directed to crypto exchanges originates in the U.S. Japan came in second, with 10% of the total traffic, while South Korea got about 6.5% and Indonesia about 4.5%. Still, as The Block points out, some countries — for instance China — block access to cryptocurrency exchanges and users from those places usually access them through Virtual Private Networks ( VPNs ). VPNs mask users’ IP addresses, making them appear as if they were from another country, decreasing the accuracy of this study. Lastly, The Block claims to have noticed a positive correlation between gross domestic product per capita and the volume of internet traffic directed towards cryptocurrency exchanges. The report noted: “Data shows poorer countries aren’t trading crypto as much as wealthier countries.” As Cointelegraph reported earlier this week, American crypto investment manager Bitwise Asset Management released a paper claiming that fake trading volumes by crypto exchanges do not impact bitcoin’s ( BTC ) price . Earlier this month, news broke that Japan ’s Financial Services Agency is reportedly cracking down on crypto exchanges that offer anonymous transactions or have weak identity verification practices in preparation for inspection by the Financial Action Task Force this fall. Related Articles: Coinbase President and COO Departs From the Company LocalBitcoins Imposes Restrictions on Iranian Accounts BitMEX Ventures Invests in Crypto Exchange Licensed by Philippines Central Bank Crypto Exchange Bitfinex Temporarily Shuts Down Deposits and Withdrawals \|\| Crypto to Venezuela's rescue? A non-profit uses digital coin to ease crisis: A charity founded by Coinbase’s CEO Brian Armstrong is donating cryptocurrency to citizens in Venezuela, with the country roiled by famine, disease and political turmoil. As Venezuela’s political and economic crisis reaches a boiling point, GiveCrypto.org has figured a workaround to a widespread shortage of money. The organization is donating cryptocurrency to Venezuelans in need, to buy groceries and household goods. “We early on selected Venezuela as where we are going to work, primarily because money is so broken there,” said Joe Waltman, executive director of GiveCrypto.org toldYFi PMin an interview. The lack of food and money has worsened a crisis that’s driven nearly 4 million of its citizens from the oil-rich Andean nation, according to theUN High Commissioner for Refugees. Those who can’t leave the country are at extreme risk of starvation, as surging prices erode the value of Venezuela’s currency. Venezuela’s collapsing economy has been hit by skyrocketing hyperinflation, power cuts and shortages of food and medicine. It’s prompted some to look to the crypto market for solutions. Over the last year, the Venezuelan government hascreated its own digital currency, called the petro, to help ease the crisis. And at least one other charity, called Airdrop Venezuela,is collecting cryptocurrency donationsto distribute to 100,000 Venezuelans. Meanwhile, GiveCrypto.org works by recruiting on the ground “ambassadors” who will identify persons in need. Each participant will receive $10 paid in Ethereum (ETH) per week for six weeks. The organization will employ a field contractor to help recruit local vendors that accepts cryptocurrency payments and sell primary items like food and household supplies. “We have people on the ground who are trusted, who understands the situation in their communities,” Waltman told Yahoo Finance. “We rely on them to select people that are in need, and we directly transfer cryptocurrency to the people who are ambassador-select,” he added. The cryptocurrency payment and transaction is managed through Coinbase’s “Wallet Lite” app that is enhanced with Spanish-language options, and compatible with Android 4.1 and above. GiveCrypto.orgsaid recentlythat this will help reach 96% of Android users in Venezuela. Volatile price swings in the crypto market might make GiveCrypto’s solution seem curious. However, with an annual inflation rate at over 1,000,000%, digital currencies like Bitcoin (BTC) are relatively more stable than the Venezuelan bolivar. “On the vendor side, it’s not that hard of a pitch,” Waltman explained to Yahoo Finance. “If you go to a local corner store and say, ‘Hey, we’re going to be distributing cryptocurrency...to x people within 500 meter radius from your store, do you want to be the only place they can spend this?’” he asked. “Most small business owners will jump at that chance.” Some of the biggestdonorsso far are well known figures in the cryptocurrency world—including Ripple’s CEO Brad Garlinghouse— and former “Mighty Ducks” actor Brock Pierce, who is director of the Bitcoin Foundation. “We expect the crypto community is probably the place to where we will be getting a good chunk of the donations,” Waltman said. “Our mission is in line with some of the early crypto people.” Grete Suarez is producer at Yahoo Finance for YFi PM and The Ticker. Follow her on Twitter:@GreteSuarez Read more: • How Joe Duran came to the U.S. with $200 and sold a $750M business to Goldman Sachs • SpaceX founding member: Musk's success made space a safer investment • 59% of small business owners say tariffs won't affect them, Bank of America survey finds Follow Yahoo Finance onTwitter,Facebook,Instagram,Flipboard,SmartNews,LinkedIn,YouTube, andreddit. \|\| Nonprofit GiveCrypto uses digital coin to help Venezuela: A charity founded by Coinbases CEO Brian Armstrong is donating cryptocurrency to citizens in Venezuela, with the country roiled by famine, disease and political turmoil. As Venezuelas political and economic crisis reaches a boiling point, GiveCrypto.org has figured a workaround to a widespread shortage of money. The organization is donating cryptocurrency to Venezuelans in need, to buy groceries and household goods. We early on selected Venezuela as where we are going to work, primarily because money is so broken there, said Joe Waltman, executive director of GiveCrypto.org told YFi PM in an interview. The lack of food and money has worsened a crisis thats driven nearly 4 million of its citizens from the oil-rich Andean nation, according to the UN High Commissioner for Refugees . Those who cant leave the country are at extreme risk of starvation, as surging prices erode the value of Venezuelas currency. In this Feb. 14, 2019 photo, Dugleidi Salcedo complains to a neighbor about the high price of food as she prepares arepas for her three sons in her kitchen in the Petare slum, in Caracas, Venezuela. (AP Photo/Rodrigo Abd) Crypto to the rescue? Venezuelas collapsing economy has been hit by skyrocketing hyperinflation, power cuts and shortages of food and medicine. Its prompted some to look to the crypto market for solutions. Over the last year, the Venezuelan government has created its own digital currency, called the petro , to help ease the crisis. And at least one other charity, called Airdrop Venezuela, is collecting cryptocurrency donations to distribute to 100,000 Venezuelans. Meanwhile, GiveCrypto.org works by recruiting on the ground ambassadors who will identify persons in need. Each participant will receive $10 paid in Ethereum ( ETH ) per week for six weeks. The organization will employ a field contractor to help recruit local vendors that accepts cryptocurrency payments and sell primary items like food and household supplies. We have people on the ground who are trusted, who understands the situation in their communities, Waltman told Yahoo Finance. We rely on them to select people that are in need, and we directly transfer cryptocurrency to the people who are ambassador-select, he added. Story continues The cryptocurrency payment and transaction is managed through Coinbases Wallet Lite app that is enhanced with Spanish-language options, and compatible with Android 4.1 and above. GiveCrypto.org said recently that this will help reach 96% of Android users in Venezuela. Venezuela's annual inflation rate (Source: IMF) Volatile price swings in the crypto market might make GiveCryptos solution seem curious. However, with an annual inflation rate at over 1,000,000%, digital currencies like Bitcoin ( BTC ) are relatively more stable than the Venezuelan bolivar. On the vendor side, its not that hard of a pitch, Waltman explained to Yahoo Finance. If you go to a local corner store and say, Hey, were going to be distributing cryptocurrency...to x people within 500 meter radius from your store, do you want to be the only place they can spend this? he asked. Most small business owners will jump at that chance. Some of the biggest donors so far are well known figures in the cryptocurrency worldincluding Ripples CEO Brad Garlinghouse and former Mighty Ducks actor Brock Pierce, who is director of the Bitcoin Foundation. We expect the crypto community is probably the place to where we will be getting a good chunk of the donations, Waltman said. Our mission is in line with some of the early crypto people. Grete Suarez is producer at Yahoo Finance for YFi PM and The Ticker. Follow her on Twitter : @GreteSuarez Read more : How Joe Duran came to the U.S. with $200 and sold a $750M business to Goldman Sachs SpaceX founding member: Musk's success made space a safer investment 59% of small business owners say tariffs won't affect them, Bank of America survey finds Follow Yahoo Finance on Twitter , Facebook , Instagram , Flipboard , SmartNews , LinkedIn , YouTube , and reddit . \|\| Does Kik Stand a Chance Against the Goliath of the SEC in a US Court?: It’s difficult to fight progress. Although, if you're the United States Securities and Exchange Commission ( SEC ), you can at least try, which could explain why the agency has so far refrained from producing clear and favorable cryptocurrency regulation. Since February 2018, the SEC has taken to consider all initial coin offerings ( ICO s) as being securities . Meanwhile, in June 2018, SEC Chairman Jay Clayton proclaimed that the commission is "not going to do any violence to the traditional definition of a security that has worked for a long time." And given that the SEC has closed down its fair share of ICOs, it would seem there's little hope that it's going to provide any special treatment for crypto and propose lenient guidelines or regulation for the industry. Still, there is at least one company operating within crypto that believes such a scenario is possible. On May 28, it emerged that the creators of the kin cryptocurrency, the Kik platform, had launched what it calls the Defend Crypto fund . Establishing the new fund with an endowment of $5 million, Kik is calling on sympathetic members of the crypto community to donate cryptocurrencies , in case the initial $5 million isn't sufficient to negotiate with the SEC and possibly "take them on in court." However, while there's little doubt that Kik is absolutely serious about the possibility of fighting it out against the SEC in a legal setting, history suggests that the SEC won’t be budged from its view that kin is a security. But even if the two parties do eventually go to court, the legal opinion Cointelegraph obtained suggests that Kik has a good case, and that the commission should think very carefully before proceeding with any legal action. A brief history lesson Back in September 2017, Kik was able to raise almost $100 million in a "token distribution event" (i.e., an ICO) for its kin cryptocurrency, placing it in the top-10 biggest token sales of that year. However, in January 2018, rumors emerged that the SEC had begun investigating the sale, with the commission apparently sending inquiries and one subpoena to the Canadian company (something that has now been confirmed by Kik’s CEO, Ted Livingston). Story continues These inquiries gradually grew in number over the course of 2018, in parallel with the SEC's mounting interest toward ICOs in general. While everything was kept largely under wraps and there were no significant news reports at the time (beyond various pieces of speculation on Reddit), the SEC issued Kik with eight subpoenas between March and July 2018 — and between August and November of the same year, it demanded nine testimonies from members of the Kik team. This was all capped off on Nov. 16, when the SEC issued Kik with a Wells notice , indicating that it would begin enforcement action against the firm, pending approval by commissioners. As the Wells notice sent by the SEC makes clear, Kik had potentially violated Sections 5(a) and 5(c) of the 1933 Securities Act, which prohibit the sale of securities that haven't been registered with the commission. Of course, in its response to this letter, Kik strongly refuted any violations, affirming that "Kin is exempt from the federal securities laws" because it "possesses all the characteristics of a currency like Bitcoin and Ether." In other words, its line was that kin isn't a security but rather a currency or a utility token, while its token sale did not fall whatsoever under the description of an "investment contract." In fact, Kik's 30-page response to the Wells notice was so confident (if not aggressive) that it closed on a defiant tone, with its hired counsel, Patrick E. Gibbs, concluding, “Should the Commission choose to file an enforcement action, Kik and the Kin Foundation are prepared to litigate and are confident that they will prevail in court." This exchange of letters was then followed by a variety of discussions and negotiations between the two parties at the beginning of 2019, with the SEC also requesting further information and documents from Kik. Since then, the only thing that's happened is that, according to Defend Crypto's website, the SEC extended its Wells notice deadline to some time in May. This was done in order to give the commission additional time to decide and vote on whether to actually take enforcement action. This seems to have displeased Kik, as the messaging app company has responded by publicizing the Defend Crypto fund while explaining to the media on May 16 that it has so far spent $5 million on going back-and-forth with the SEC. Why the Defend Crypto initiative? Livingston revealed in a podcast on May 28 that the Defend Crypto fund has been launched not so much to cover the expenses Kik has run up so far, but to help it launch its own legal case against the SEC. The Kik CEO went on to say: "The continued challenge for us has been the lack of clarity on the regulatory side, and so over the last year and a half, we've also been working with the SEC. [...] Then, when they started to ask us for some comments and some meetings [...] to understand crypto, to create that clear guidance we all need. And after spending 18 months and over $5 million trying to work with them, we just continue to be super frustrated by the lack of clarity [...] and so we've put together defendcrypto.org, and what that's saying is that the only way we're going to get clarity is if somebody goes to court, and so we are prepared to do that." As Livingston went on to add, Kik and the industry in general need " a new Howey test ," so that future cryptocurrency projects can hold token sales without having to worry about whether they should be registered with the SEC or not. More importantly, "that new Howey test is going to come from a ruling in a court case," which is why Kik and the Kin Foundation have launched Defend Crypto — and which is why Kik is prepared to take the SEC to court if the SEC doesn't take them to court first. What are the chances of success? It's worth pointing out at this juncture that the SEC has only ever issued one “no-action” letter in its short history of scrutinizing ICOs, a letter that arrived in April and was addressed to TurnKey Jet concerning its TKJ utility tokens. Casual observers would therefore be forgiven for assuming that Kik doesn't have much of a chance when it comes to either changing the SEC's mind, or winning a legal case. However, while there isn't a clear conviction that Kik will prevail, certain figures within the crypto industry have welcomed its actions, indicating at least a willingness to believe it has a chance. Jake Chervinsky, a lawyer who currently serves as general counsel for decentralized money market Compound, tweeted: This is the most important storyline in the world of crypto securities law in 2019; far more significant than any SEC guidance or proposed legislation. The SEC keeps saying digital tokens are securities, but can they prove it in court? Respect to Kik for their aggressive stance. https://t.co/Csh8viwijj — Jake Chervinsky (@jchervinsky) May 28, 2019 Likewise, Anthony "Pomp" Pompliano hosted Livingston on his “Off the Chain” podcast on May 30, and while he arguably spent much of the show playing devil's advocate to Livingston's arguments, he concluded by saying, "I think that there are a lot of people who are paying attention to what you guys are doing, and frankly cheering for you guys to help get some clarity." Kik believes it has a chance, clarifying its position on whether Kik is a security in an extensively detailed response to the SEC's Wells notice and on the Defend Crypto website. In particular, it lists a number of reasons why it believes kin isn't a security, starting with the fact that kin is currently used by around 300,000 Kik users as a currency within the Kik ecosystem, making it one of the most-used cryptos in terms of transactions per 24 hours, as of writing. Because it's used in an ecosystem, this should qualify it first and foremost as a utility token, in Kik's opinion, and as it notes in its response to the Wells notice, "The industry understood the DAO Report to stand for the proposition that token sales with ‘specific utility […] to software or a platform’ likely do not require registration." Related to this, Kik also argue that, like Ethereum (which isn’t a security), kin was always intended to become a decentralized cryptocurrency that wouldn't be managed or overseen by Kik, but rather by its distributed community of developers and users. “Kik stressed that Kin would ‘serve as a foundation for a decentralized ecosystem of digital services.’ (SEC Ex. 88.) By providing an open and decentralized network of digital services, the Kin ecosystem would ‘foster direct economic relationships between developers, creators, and consumers, with value and governance shared among the participants,’” it wrote in the Wells letter, and what's interesting about this is that it echoes what the SEC's William Hinman had said at a summit in June 2018, when it was reported that the commission had decided Ethereum was not a security: "Based on my understanding of the present state of ether, the Ethereum network and its decentralized structure, current offers and sales of ether are not securities transactions." SEC Chairman Clayton seconded these views in March, in a letter to U.S. Rep. Ted Budd: "A digital asset transaction may no longer represent an investment contract if, for example, purchasers would no longer reasonably expect a person or group to carry out the essential managerial or entrepreneurial efforts. Under those circumstances, the digital asset may not represent an investment contract under the Howey framework." As Clayton's reasoning implies, the "essential managerial or entrepreneurial efforts" on which the exchange and transmission of ETH is based is no longer carried out by a centralized party. As such, it could no longer be classed as a security, which would explain why Ethereum hasn't faced any kind of SEC enforcement action, despite benefitting from an $18.4 million ICO in 2014. Lastly, there's also Kik's assertion that the kin token sale did not satisfy the criteria of an "investment contract" as defined in the Howey test, which states that such a contract is any "transaction or scheme whereby a person invests his money in a common enterprise and is led to expect profits solely from the efforts of the promoter or a third party." As Kik's counsel, Gibbs writes on its behalf, the kin token sale (or presale) doesn't qualify as an investment contract "because no common enterprise exists between Kik and/or the Kin Foundation, on the one hand, and Kin purchasers, on the other hand." Put simply, kin holders don't have any stake or ownership interest in Kik as a company, and neither do they have any claims to Kik's future profits or assets. Kik also argues that, just because kin holders stand to benefit from any increase in the currency's value, this doesn't qualify as a common enterprise: "Simply owning a common asset whose value rises and falls depending on market forces does not give rise to a ‘common enterprise’ for purposes of Howey. See Woodward v. Terracor, 574 F.2d 1023, 1025 (10th Cir. 1978)." Win or lose, will crypto be better off regardless? While it’s hard to provide a decisive prediction of what exactly will now happen between Kik and the SEC, legal opinion would agree that Kik has a pretty solid case, at least in terms of obtaining a favorable judgment on kin’s status. Benjamin J. Sauter, a lawyer with Kobre & Kim, said: “At the moment, it’s unclear whether Kik will be asserting an affirmative claim against the SEC. [...] In most cases, companies will wait to see if the SEC follows through on the threat to bring an enforcement action. Either way, Kik has put forward some credible arguments thus far, so the SEC will bear legitimate risk if it decides to follow through with an enforcement action.” Nonetheless, even if Kik isn’t being overly ambitious in challenging the SEC, it's still highly uncertain as to whether any case would result in a new Howey test for crypto in general. David H. McGill, also of Kobre & Kim, told Cointelegraph: “If the goal here is to overturn the Howey test or render it broadly inapplicable to tokens, I don’t think that is very realistic. But if the goal is to get a court to agree that, under the particular facts and circumstances at issue, KIN tokens don’t constitute securities, I think Kik has a reasonable chance of achieving that outcome, which can then serve as foothold for other token issuers to push back against the SEC.” These encouraging judgments aside, it still needs to be remembered that, in the past, the SEC has taken enforcement actions on the basis of evidence that investors believed they would benefit from “an increase in value of the tokens.” Because this also likely applies (at least to an extent) in the case of Kik, it’s possible that the commission could behave similarly, even if Kin is already more decentralized than other cryptos. Even so, because Kik has already spent so much care setting out its case and has now taken things a step further with Defend Crypto. But, Benjamin Sauter believes that the overall legal process may not take as long as some might fear. “Of course, even in a scenario where Kik waits for the SEC to file, Kik would have opportunities to seek an early exit ramp in the form of a motion to dismiss the case, which could help shorten an otherwise lengthy proceeding.” Yet, win or lose, Kik has taken an important step in confronting the SEC so openly — by expressing grievance with how long it has taken the governing body to reach an enforcement decision and with how the commission's lack of clarity has been damaging the American crypto industry. This could potentially goad the regulator into finally producing some clear, unequivocal ruling on how to classify cryptocurrencies that have been distributed via a token sale. And if the company does indeed follow through with the initiative and actually sues the SEC, then it's very likely that such a ruling would be produced by a United States court, regardless of the outcome. Related Articles: Examining Australia's Updated Regulations for ICOs and Crypto Trading SEC Commissioner Hester Peirce Encourages Less Caution Toward ETF Innovation Hodler’s Digest, May 27–June 2: Top Stories, Price Movements, Quotes and FUD of the Week Federal Preemption or States’ Rights? Crypto Advocates Clash Over Regulatory Approaches \|\| Does Kik Stand a Chance Against the Goliath of the SEC in a US Court?: It’s difficult to fight progress. Although, if you're the United States Securities and Exchange Commission (SEC), you can at least try, which could explain why the agency has so far refrained from producing clear and favorable cryptocurrency regulation. Since February 2018, the SEC has taken to consider all initial coin offerings (ICOs) asbeing securities. Meanwhile, in June 2018, SEC Chairman Jay Claytonproclaimedthat the commission is "not going to do any violence to the traditional definition of a security that has worked for a long time." And given that the SEC hasclosed downits fair share of ICOs, it would seem there's little hope that it's going to provide any special treatment for crypto and propose lenient guidelines or regulation for the industry. Still, there is at least one company operating within crypto that believes such a scenario is possible. On May 28, it emerged that the creators of the kin cryptocurrency, theKikplatform, hadlaunchedwhat it calls theDefend Crypto fund. Establishing the new fund with an endowment of $5 million, Kik is calling on sympathetic members of the crypto community to donatecryptocurrencies, in case the initial $5 million isn't sufficient to negotiate with the SEC and possibly "take them on in court." However, while there's little doubt that Kik is absolutely serious about the possibility of fighting it out against the SEC in a legal setting, history suggests that the SEC won’t be budged from its view that kin is a security. But even if the two parties do eventually go to court, the legal opinion Cointelegraph obtained suggests that Kik has a good case, and that the commission should think very carefully before proceeding with any legal action. Back in September 2017, Kik was able toraise almost $100 millionin a "token distribution event" (i.e., an ICO) for its kin cryptocurrency, placing it in the top-10 biggest token sales of that year. However, in January 2018, rumorsemergedthat the SEC had begun investigating the sale, with the commission apparently sending inquiries and one subpoena to the Canadian company (something that has now beenconfirmedby Kik’s CEO, Ted Livingston). These inquiries gradually grew in number over the course of 2018, in parallel with the SEC's mounting interest toward ICOs in general. While everything was kept largely under wraps and there were no significant news reports at the time (beyond variouspiecesofspeculationon Reddit), the SEC issued Kik with eight subpoenas between March and July 2018 — and between August and November of the same year, it demanded nine testimonies from members of the Kik team. This was all capped off on Nov. 16, when the SEC issued Kik with aWells notice, indicating that it would begin enforcement action against the firm, pending approval by commissioners. As theWells noticesent by the SEC makes clear, Kik had potentially violated Sections 5(a) and 5(c) of the 1933 Securities Act, which prohibit the sale of securities that haven't been registered with the commission. Of course, in itsresponseto this letter, Kik strongly refuted any violations, affirming that "Kin is exempt from the federal securities laws" because it "possesses all the characteristics of a currency like Bitcoin and Ether." In other words, its line was that kin isn't a security but rather a currency or a utility token, while its token sale did not fall whatsoever under the description of an "investment contract." In fact, Kik's 30-page response to the Wells notice was so confident (if not aggressive) that it closed on a defiant tone, with its hired counsel, Patrick E. Gibbs, concluding, “Should the Commission choose to file an enforcement action, Kik and the Kin Foundation are prepared to litigate and are confident that they will prevail in court." This exchange of letters was then followed by a variety of discussions and negotiations between the two parties at the beginning of 2019, with the SEC also requesting further information and documents from Kik. Since then, the only thing that's happened is that, according to Defend Crypto's website, the SEC extended its Wells notice deadline to some time in May. This was done in order to give the commission additional time to decide and vote on whether to actually take enforcement action. This seems to have displeased Kik, as the messaging app company has responded by publicizing the Defend Crypto fund whileexplainingto the media on May 16 that it has so far spent $5 million on going back-and-forth with the SEC. Livingstonrevealedin a podcast on May 28 that the Defend Crypto fund has been launched not so much to cover the expenses Kik has run up so far, but to help it launch its own legal case against the SEC. The Kik CEO went on to say: "The continued challenge for us has been the lack of clarity on the regulatory side, and so over the last year and a half, we've also been working with the SEC. [...] Then, when they started to ask us for some comments and some meetings [...] to understand crypto, to create that clear guidance we all need. And after spending 18 months and over $5 million trying to work with them, we just continue to be super frustrated by the lack of clarity [...] and so we've put together defendcrypto.org, and what that's saying is that the only way we're going to get clarity is if somebody goes to court, and so we are prepared to do that." As Livingston went on to add, Kik and the industry in general need "a new Howey test," so that future cryptocurrency projects can hold token sales without having to worry about whether they should be registered with the SEC or not. More importantly, "that new Howey test is going to come from a ruling in a court case," which is why Kik and the Kin Foundation have launched Defend Crypto — and which is why Kik is prepared to take the SEC to court if the SEC doesn't take them to court first. It's worth pointing out at this juncture that the SEC has only ever issued one “no-action” letter in its short history of scrutinizing ICOs, a letter thatarrivedin April and was addressed to TurnKey Jet concerning its TKJ utility tokens. Casual observers would therefore be forgiven for assuming that Kik doesn't have much of a chance when it comes to either changing the SEC's mind, or winning a legal case. However, while there isn't a clear conviction that Kik will prevail, certain figures within the crypto industry have welcomed its actions, indicating at least a willingness to believe it has a chance. Jake Chervinsky, a lawyer who currently serves as general counsel for decentralized money market Compound, tweeted: Likewise, Anthony "Pomp" PomplianohostedLivingston on his “Off the Chain” podcast on May 30, and while he arguably spent much of the show playing devil's advocate to Livingston's arguments, he concluded by saying, "I think that there are a lot of people who are paying attention to what you guys are doing, and frankly cheering for you guys to help get some clarity." Kik believes it has a chance, clarifying its position on whether Kik is a security in an extensively detailed response to the SEC's Wells notice and on the Defend Crypto website. In particular, it lists a number of reasons why it believes kin isn't a security, starting with the fact that kin is currently used by around 300,000 Kik users as a currency within the Kik ecosystem, making it one of themost-used cryptosin terms of transactions per 24 hours, as of writing. Because it's used in an ecosystem, this should qualify it first and foremost as a utility token, in Kik's opinion, and as it notes in its response to the Wells notice, "The industry understood the DAO Report to stand for the proposition that token sales with ‘specific utility […] to software or a platform’ likely do not require registration." Related to this, Kik also argue that, likeEthereum(which isn’t a security), kin was always intended to become a decentralized cryptocurrency that wouldn't be managed or overseen by Kik, but rather by its distributed community of developers and users. “Kik stressed that Kin would ‘serve as a foundation for a decentralized ecosystem of digital services.’ (SEC Ex. 88.) By providing an open and decentralized network of digital services, the Kin ecosystem would ‘foster direct economic relationships between developers, creators, and consumers, with value and governance shared among the participants,’” it wrote in the Wells letter, and what's interesting about this is that it echoes what the SEC's William Hinman had said at a summit in June 2018, when it was reported that the commission haddecidedEthereum was not a security: "Based on my understanding of the present state of ether, the Ethereum network and its decentralized structure, current offers and sales of ether are not securities transactions." SEC Chairman Clayton seconded these views in March, in aletterto U.S. Rep. Ted Budd: "A digital asset transaction may no longer represent an investment contract if, for example, purchasers would no longer reasonably expect a person or group to carry out the essential managerial or entrepreneurial efforts. Under those circumstances, the digital asset may not represent an investment contract under the Howey framework." As Clayton's reasoning implies, the "essential managerial or entrepreneurial efforts" on which the exchange and transmission of ETH is based is no longer carried out by a centralized party. As such, it could no longer be classed as a security, which would explain why Ethereum hasn't faced any kind of SEC enforcement action, despite benefitting from an $18.4 million ICO in 2014. Lastly, there's also Kik's assertion that the kin token sale did not satisfy the criteria of an "investment contract" as defined in the Howey test, whichstatesthat such a contract is any "transaction or scheme whereby a person invests his money in a common enterprise and is led to expect profits solely from the efforts of the promoter or a third party." As Kik's counsel, Gibbs writes on its behalf, the kin token sale (or presale) doesn't qualify as an investment contract "because no common enterprise exists between Kik and/or the Kin Foundation, on the one hand, and Kin purchasers, on the other hand." Put simply, kin holders don't have any stake or ownership interest in Kik as a company, and neither do they have any claims to Kik's future profits or assets. Kik also argues that, just because kin holders stand to benefit from any increase in the currency's value, this doesn't qualify as a common enterprise: "Simply owning a common asset whose value rises and falls depending on market forces does not give rise to a ‘common enterprise’ for purposes of Howey. See Woodward v. Terracor, 574 F.2d 1023, 1025 (10th Cir. 1978)." While it’s hard to provide a decisive prediction of what exactly will now happen between Kik and the SEC, legal opinion would agree that Kik has a pretty solid case, at least in terms of obtaining a favorable judgment on kin’s status. Benjamin J. Sauter, a lawyer with Kobre & Kim, said: “At the moment, it’s unclear whether Kik will be asserting an affirmative claim against the SEC. [...] In most cases, companies will wait to see if the SEC follows through on the threat to bring an enforcement action. Either way, Kik has put forward some credible arguments thus far, so the SEC will bear legitimate risk if it decides to follow through with an enforcement action.” Nonetheless, even if Kik isn’t being overly ambitious in challenging the SEC, it's still highly uncertain as to whether any case would result in a new Howey test for crypto in general. David H. McGill, also of Kobre & Kim, told Cointelegraph: “If the goal here is to overturn the Howey test or render it broadly inapplicable to tokens, I don’t think that is very realistic. But if the goal is to get a court to agree that, under the particular facts and circumstances at issue, KIN tokens don’t constitute securities, I think Kik has a reasonable chance of achieving that outcome, which can then serve as foothold for other token issuers to push back against the SEC.” These encouraging judgments aside, it still needs to be remembered that, in the past, the SEC has takenenforcement actionson the basis of evidence that investors believed they would benefit from “an increase in value of the tokens.” Because this also likely applies (at least to an extent) in the case of Kik, it’s possible that the commission could behave similarly, even if Kin is already more decentralized than other cryptos. Even so, because Kik has already spent so much care setting out its case and has now taken things a step further with Defend Crypto. But, Benjamin Sauter believes that the overall legal process may not take as long as some might fear. “Of course, even in a scenario where Kik waits for the SEC to file, Kik would have opportunities to seek an early exit ramp in the form of a motion to dismiss the case, which could help shorten an otherwise lengthy proceeding.” Yet, win or lose, Kik has taken an important step in confronting the SEC so openly — by expressing grievance with how long it has taken the governing body to reach an enforcement decision and with how the commission's lack of clarity has been damaging the American crypto industry. This could potentially goad the regulator into finally producing some clear, unequivocal ruling on how to classify cryptocurrencies that have been distributed via a token sale. And if the company does indeed follow through with the initiative and actually sues the SEC, then it's very likely that such a ruling would be produced by a United States court, regardless of the outcome. • Examining Australia's Updated Regulations for ICOs and Crypto Trading • SEC Commissioner Hester Peirce Encourages Less Caution Toward ETF Innovation • Hodler’s Digest, May 27–June 2: Top Stories, Price Movements, Quotes and FUD of the Week • Federal Preemption or States’ Rights? Crypto Advocates Clash Over Regulatory Approaches \|\| These US Insurance Giants Will Pay Each Other on a Blockchain: By CCN : USAA and State Farm have reportedly closed a deal that will see them using the blockchain to pay each other. So when two people get in an accident, and they’re represented by either of the companies, the company that has to pay will eventually be using a blockchain solution to settle the inter-company payment. Billions Per Year Settled On Blockchain The claims amount to billions of dollars a year, which is a lucrative volume that blockchains can settle in minutes. The advent of stablecoins and clearer regulations have renewed interest from traditional institutions. State Farm made its blockchain project public last year, but USAA wasn’t part of the announcement . Now the partnership is general information. Instead of issuing billions of dollars to each other via checks, the new blockchain system will make regular settlements between them. The new efficient system will save time and fees for both companies, as well as time. A State Farm representative told Coindesk that many other insurance companies could join the party. In a few short months, major companies like Whole Foods have announced the integration of cryptocurrency. Huge! Amazon-Owned Whole Foods Buoys Crypto by Accepting Bitcoin https://t.co/DivgUdoTHo — CCN.com (@CCNMarkets) May 13, 2019 Read the full story on CCN.com . \|\| Bitcoin Price Still Massive 75% Away From Next Bull Peak, Squeals Analyst: ByCCN: Since December 2018, within 168 days, the bitcoin price has increased by more than 130 percent year-to-date against the U.S. dollar, engaging in a powerful recovery following its crash to $3,150. Based on the historical performance of bitcoin and the length of bull markets throughout the past eight years, cryptocurrency trader Josh Rager suggested the likelihood of the bitcoin rally being sustained throughout the next two years. Although the bitcoin price briefly dropped to $8,000 asreportedby CCN in an unexpected 11 percent drop, many traders have expressed their optimism towards the dominant cryptocurrency on a macro level. Historically, the bitcoin price has tended to perform strongly a year before and after a scheduled block reward halving. A block reward halving is a mechanism on the Bitcoin blockchain network that reduces the rate in which new BTC is produced by miners every four years as the supply of the asset closes on its fixed supply of 21 million. Read the full story on CCN.com. \|\| Bitcoin Price Still Massive 75% Away From Next Bull Peak, Squeals Analyst: ByCCN: Since December 2018, within 168 days, the bitcoin price has increased by more than 130 percent year-to-date against the U.S. dollar, engaging in a powerful recovery following its crash to $3,150. Based on the historical performance of bitcoin and the length of bull markets throughout the past eight years, cryptocurrency trader Josh Rager suggested the likelihood of the bitcoin rally being sustained throughout the next two years. Although the bitcoin price briefly dropped to $8,000 asreportedby CCN in an unexpected 11 percent drop, many traders have expressed their optimism towards the dominant cryptocurrency on a macro level. Historically, the bitcoin price has tended to perform strongly a year before and after a scheduled block reward halving. A block reward halving is a mechanism on the Bitcoin blockchain network that reduces the rate in which new BTC is produced by miners every four years as the supply of the asset closes on its fixed supply of 21 million. Read the full story on CCN.com. \|\| Bitcoin SV Was the Best Performing Crypto in May – And it Wasn’t Close: The cryptocurrency markets saw rapid growth in May with quite a few outshining the largest by market capitalization, bitcoin. The leading cryptocurrency drew most of the attention, rising 67 percent from $5,265 on May 1st to $8,900 by month’s end. A considerable amount of the gains happened in thelead up tothe New York Blockchain event, that took place during the second week of May. For instance, sharp rallies in bitcoin’s price on May 11 and May 13 pushed its price tag above $7,000 and then $8,000 for the first time in over a year. Bitcoin Shines Amid Wall Street Losses Despite logging its best monthly gain since 2017 however, BTC ranks tenth on the list of May’s best-performing cryptocurrencies, according toMessari.iodata. Names like Chainlink (LINK), Dent (DENT), bitcoin SV (BSV), Holochain (HOT) and bitcoin gold (BTG) took a clear lead, each rising between 65 and 256 percent against their respective trading pairs with the U.S dollar. The total capitalization of the broader market excluding bitcoin reflected the growth by rising to $125.6 billion on May 30th– its highest value in nearly 10 months. The performance of individual altcoins when paired against BTC fared much worse, however. Bitcoin Price Looks Poised for Pullback But June Could Revive Rally Ether’s pairing with BTC, for example, found itself still unable to scale its 200-day moving average for much of the month, and at the time of writing has only increased roughly 2 percent since May 1 whereas its USD pair is currently up over 60 percent in the same time span. Such a discrepancy between the performance of both pairs can be attributed to bitcoin’s price rally inflated the USD value of most altcoins why devaluing it value in BTC terms. That said, a number of cryptocurrencies were able to flash strong performances in both categories, case in point being thetop five performers for the month of May seen below. BSV\| Price: $197 \| MCAP: $3.5 billion \| Percent Change: +231 percent The crypto project aptly named ‘Satoshi’s Vision’ claims to be the “original bitcoin,” by restoring BTC’s first protocol while stating that it can massively scale with increased stability. Bitcoin SV had a remarkable run during May and was the clear leader during the second half of the month after prices broke out on May 21, bringing it back above the elusive $100 price tag. Prices peaked at $252 according to data from Bittrex after landing itself in overbought territory and triggering a pullback, as shown by the dailyrelative strength index(RSI) exceeding a value of 70. BSV/USD remains bullishly bid above a technical resistance level of $148, but a strong close below could re-expose the $90 support in the coming weeks. LINK\| Price: $1.01 \| MCAP: $364.3 million \| Percent Change: +96 percent Chainlink’s (LINK) staggering 200 percent rise in mid-May suffered a setback as the monthly close approached, but today remains 96 percent up on the month, placing it firmly in 2nd place within the top 5 performers for May. Concerns are now building for greater drawdown, courtesy of a candle close below the 38.2 percent Fibonacci retracement line on the daily chart, exposing the neutral pivot along the 50 percent retracement at $0.84. Prices remain bullishly bid above the 200-daily moving average (red line) and above a key resistance that became support at $0.68, but expect a pullback if its price breaks below the neutral 50 percent retracement. DENT\| Price: $0.001747 \| MCAP: $124.1 million \| Percent Change: 78 percent DENT is a token issued on the ethereum blockchain that aims to facilitate global communications via its platform and service offerings. Its performance on the month was bullish to say the least, concluding May with a 78 percent higher price than it started and ranking as the 3rd best performer of the month. However, recent market developments have thrown into contention the short-term bullish trend as prices dipped below a key support by the time the monthly trading period came to a close. Similar to that of LINK, the longer term view remains bullish while trading above the 200-day moving average (red line), which looks set to complete positive crossover with the 100-day moving average on another significant upward move. BTG\| Price: $26.71 \| MCAP: $475.8 million \| Percent Change: +64 percent Bitcoin Gold (BTG), yet another bitcoin fork, changedBTC’s proof-of-work algorithm from SHA256 to Equihash, rendering specialized mining equipment obsolete in an attempt to democratize the mining process. Traders heavily favored BTG buy opportunities in May, leading it to place as the 5th best-performing crypto this month, outperforming other notable bitcoin forks such as bitcoin diamond (BCD) and bitcoin private (BTCP). BTG’s rising channel spanning more than four months looks set to break down courtesy of a rising wedge (bear reversal pattern) residing within the channel’s most recent price action. In addition, a long upper wick on the daily timeframe is evidence strong sell pressure still exists above $30. Should momentum falter here, a drop in value toward the 61.8 percent Fibonacci retracement line at $20.34 may be in the offing, but will remain bullish so long as the channel pattern holds. HOT\| Price: $0.002165 \| MCAP: $288.4 million \| Percent Change: +74 percent Holochain (HOT) is a decentralized application platform that uses peer-to-peer networking for processing agent-centric agreement and consensus mechanisms between users. Beginning in late May, HOT managed to break a key resistance zone of $0.0016, carving out a further 57 percent rise in value before prices peaked at $0.0027 on May 29. From there it has been a downhill battle for HOT with the forfeiture of the 38.2 percent retracement line opening up the neutral pivot point at $0.0018 (50 percent retracement). If prices continue to falter, buying pressure is likely to support HOT near $0.0016 due to it being a previous resistance zone. Disclosure:The author holds no cryptocurrency assets at the time of writing. Balloonsimage via Shutterstock; charts byTrading View • Bitcoin Remains on Hunt for $9K After Defense of Key Price Support • Bitcoin Price Eyes Longest Monthly Winning Run Since 2017 \|\| Bitcoin SV Was the Best Performing Crypto in May And it Wasnt Close: The cryptocurrency markets saw rapid growth in May with quite a few outshining the largest by market capitalization, bitcoin. The leading cryptocurrency drew most of the attention, rising 67 percent from $5,265 on May 1st to $8,900 by months end. A considerable amount of the gains happened in the lead up to the New York Blockchain event, that took place during the second week of May. For instance, sharp rallies in bitcoins price on May 11 and May 13 pushed its price tag above $7,000 and then $8,000 for the first time in over a year. Bitcoin Shines Amid Wall Street Losses Despite logging its best monthly gain since 2017 however, BTC ranks tenth on the list of Mays best-performing cryptocurrencies, according to Messari.io data. Names like Chainlink (LINK), Dent (DENT), bitcoin SV (BSV), Holochain (HOT) and bitcoin gold (BTG) took a clear lead, each rising between 65 and 256 percent against their respective trading pairs with the U.S dollar. The total capitalization of the broader market excluding bitcoin reflected the growth by rising to $125.6 billion on May 30th its highest value in nearly 10 months. Bitcoin pairings The performance of individual altcoins when paired against BTC fared much worse, however. Bitcoin Price Looks Poised for Pullback But June Could Revive Rally Ethers pairing with BTC, for example, found itself still unable to scale its 200-day moving average for much of the month, and at the time of writing has only increased roughly 2 percent since May 1 whereas its USD pair is currently up over 60 percent in the same time span. Such a discrepancy between the performance of both pairs can be attributed to bitcoins price rally inflated the USD value of most altcoins why devaluing it value in BTC terms. That said, a number of cryptocurrencies were able to flash strong performances in both categories, case in point being the top five performers for the month of May seen below. Top 5 Monthly Performers In May BSV \| Price: $197 \| MCAP: $3.5 billion \| Percent Change: +231 percent Story continues The crypto project aptly named Satoshis Vision claims to be the original bitcoin, by restoring BTCs first protocol while stating that it can massively scale with increased stability. Bitcoin SV had a remarkable run during May and was the clear leader during the second half of the month after prices broke out on May 21, bringing it back above the elusive $100 price tag. Prices peaked at $252 according to data from Bittrex after landing itself in overbought territory and triggering a pullback, as shown by the daily relative strength index (RSI) exceeding a value of 70. BSV/USD remains bullishly bid above a technical resistance level of $148, but a strong close below could re-expose the $90 support in the coming weeks. LINK \| Price: $1.01 \| MCAP: $364.3 million \| Percent Change: +96 percent Chainlinks (LINK) staggering 200 percent rise in mid-May suffered a setback as the monthly close approached, but today remains 96 percent up on the month, placing it firmly in 2nd place within the top 5 performers for May. Concerns are now building for greater drawdown, courtesy of a candle close below the 38.2 percent Fibonacci retracement line on the daily chart, exposing the neutral pivot along the 50 percent retracement at $0.84. Prices remain bullishly bid above the 200-daily moving average (red line) and above a key resistance that became support at $0.68, but expect a pullback if its price breaks below the neutral 50 percent retracement. DENT \| Price: $0.001747 \| MCAP: $124.1 million \| Percent Change: 78 percent DENT is a token issued on the ethereum blockchain that aims to facilitate global communications via its platform and service offerings. Its performance on the month was bullish to say the least, concluding May with a 78 percent higher price than it started and ranking as the 3rd best performer of the month. However, recent market developments have thrown into contention the short-term bullish trend as prices dipped below a key support by the time the monthly trading period came to a close. Similar to that of LINK, the longer term view remains bullish while trading above the 200-day moving average (red line), which looks set to complete positive crossover with the 100-day moving average on another significant upward move. BTG \| Price: $26.71 \| MCAP: $475.8 million \| Percent Change: +64 percent Bitcoin Gold (BTG), yet another bitcoin fork, changed BTCs proof-of-work algorithm from SHA256 to Equihash, rendering specialized mining equipment obsolete in an attempt to democratize the mining process. Traders heavily favored BTG buy opportunities in May, leading it to place as the 5th best-performing crypto this month, outperforming other notable bitcoin forks such as bitcoin diamond (BCD) and bitcoin private (BTCP). BTGs rising channel spanning more than four months looks set to break down courtesy of a rising wedge (bear reversal pattern) residing within the channels most recent price action. In addition, a long upper wick on the daily timeframe is evidence strong sell pressure still exists above $30. Should momentum falter here, a drop in value toward the 61.8 percent Fibonacci retracement line at $20.34 may be in the offing, but will remain bullish so long as the channel pattern holds. HOT \| Price: $0.002165 \| MCAP: $288.4 million \| Percent Change: +74 percent Holochain (HOT) is a decentralized application platform that uses peer-to-peer networking for processing agent-centric agreement and consensus mechanisms between users. Beginning in late May, HOT managed to break a key resistance zone of $0.0016, carving out a further 57 percent rise in value before prices peaked at $0.0027 on May 29. From there it has been a downhill battle for HOT with the forfeiture of the 38.2 percent retracement line opening up the neutral pivot point at $0.0018 (50 percent retracement). If prices continue to falter, buying pressure is likely to support HOT near $0.0016 due to it being a previous resistance zone. Disclosure: The author holds no cryptocurrency assets at the time of writing. Balloons image via Shutterstock; charts by Trading View Related Stories Bitcoin Remains on Hunt for $9K After Defense of Key Price Support Bitcoin Price Eyes Longest Monthly Winning Run Since 2017 [Social Media Buzz] @TIME $1 million dollar prayer rug & handkerchief. Click below & discover why it costs so... https://t.co/JnM2m3jNUP #business #cryptocurrency #art #Crypto #investing #عيد_الفطر #bitcoin #Trump #fashion #life #ليلة_القدر #luxury #startup #dubai #auction #stocks #Travel #Ramadan #رمضان \|\| @haydenotto_ @TravelbyBit @bchaustralia Btc has never had rolling checkpoints like bch does which only exist due to bch pitiful low hashrate which make it prone to reorg attacks \|\| @mail4dash Nice 👍, n...	8209.00, 7707.77, 7824.23, 7822.02, 8043.95, 7954.13, 7688.08, 8000.33, 7927.71, 8145.86
Given the historical Bitcoin prices from the last 90 days, predict the next 10 daily closing prices. The historical prices are: 1124.78, 1182.68, 1176.90, 1175.95, 1187.87, 1187.13, 1205.01, 1200.37, 1169.28, 1167.54, 1172.52, 1182.94, 1193.91, 1211.67, 1210.29, 1229.08, 1222.05, 1231.71, 1207.21, 1250.15, 1265.49, 1281.08, 1317.73, 1316.48, 1321.79, 1347.89, 1421.60, 1452.82, 1490.09, 1537.67, 1555.45, 1578.80, 1596.71, 1723.35, 1755.36, 1787.13, 1848.57, 1724.24, 1804.91, 1808.91, 1738.43, 1734.45, 1839.09, 1888.65, 1987.71, 2084.73, 2041.20, 2173.40, 2320.42, 2443.64, 2304.98, 2202.42, 2038.87, 2155.80, 2255.61, 2175.47, 2286.41, 2407.88, 2488.55, 2515.35, 2511.81, 2686.81, 2863.20, 2732.16, 2805.62, 2823.81, 2947.71, 2958.11, 2659.63, 2717.02, 2506.37, 2464.58, 2518.56, 2655.88, 2548.29, 2589.60, 2721.79, 2689.10, 2705.41, 2744.91, 2608.72, 2589.41, 2478.45, 2552.45, 2574.79, 2539.32, 2480.84, 2434.55, 2506.47, 2564.06.	[Bitcoin Technical Analysis for 2017-07-03] Volume: 964112000, RSI (14-day): 51.58, 50-day EMA: 2377.97, 200-day EMA: 1621.11 [Wider Market Context] Gold Price: 1217.90, Gold RSI: 31.69 Oil Price: 47.07, Oil RSI: 57.90 [Recent News (last 7 days)] Barron's Picks And Pans: Bristol-Myers, Texas Instruments, Altaba And More: "Bristol-Myers Could Return 40% in Two to Three Years" by Vito J. Racanelli points out that Bristol-Myers Squibb Co (NYSE: BMY ) may not be a high-flying tech stock, but it is a leader in high-tech cancer treatments. Though the drugmaker has taken a beating after a disappointing lung-cancer trial and a related setback involving its Opdivo, see how patient investors could be rewarded. In "Texas Instruments' Analog Advantage Could Reward Investors," Lawrence C. Strauss suggests that shrewd moves have made Texas Instruments Incorporated (NASDAQ: TXN ) a giant in embedded processors and analog chips, with strong margins and a dominant market position. Find out why Barron's believes shareholders could see 10-percent annual returns for years. Jack Hough's "A Surge of Dealmaking Ahead for Cable, Wireless" makes the case that as cable and wireless operators contemplate joining forces, plenty of opportunity lurks for investors. The article includes possible takeover targets such as Frontier Communications Corp (NASDAQ: FTR ) and Sprint Corp (NYSE: S ), and check out who else is in the mix as well. See also: Benzinga's Bulls And Bears For The Past Week: Delta Air Lines, Buffalo Wild Wings And More Since taking up the reins in 1990, the Mendelson family has found a runway to riches with Heico Corp (NYSE: HEI ), a maker of replacement aircraft parts, according to "A Niche Business With Extraordinary Returns" by money manager Adam Seessel. See why the stock of one of the best companies investors probably have never heard of could climb sharply going forward. In Andrew Bary's "As Altaba Winds Down Yahoo!'s Holdings, Shares May Post 20% Gain," find out why Altaba Inc (NASDAQ: AABA ), which is what remains of Yahoo after the sale of its internet business to Verizon Communications Inc. (NYSE: VZ ) in June, still offers a lot of ways for investors to win, according to a key research analyst. For instance, the stock trades at a significant discount to its net asset value. Also In This Week's Barron's How to invest in Bitcoin. A skeptic's view of popular stocks. Fed Chair Janet Yellen's prediction of no more financial crises. The path back to normal for central banks. Chip insurgents gaining on Intel Corporation (NASDAQ: INTC ). How to play Latin America's stealth rally. Whether to be wary of "too clever" ETFs. Bank payouts that are set to rise. Why U.S. jobs data are not fake news. See more from Benzinga What Do Short Sellers Know About Home Depot? Benzinga's Bulls & Bears For The Past Week: Netflix, AMD, Colgate And More © 2017 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. View comments \|\| Barron's Picks And Pans: Bristol-Myers, Texas Instruments, Altaba And More: "Bristol-Myers Could Return 40% in Two to Three Years" by Vito J. Racanelli points out that Bristol-Myers Squibb Co (NYSE: BMY ) may not be a high-flying tech stock, but it is a leader in high-tech cancer treatments. Though the drugmaker has taken a beating after a disappointing lung-cancer trial and a related setback involving its Opdivo, see how patient investors could be rewarded. In "Texas Instruments' Analog Advantage Could Reward Investors," Lawrence C. Strauss suggests that shrewd moves have made Texas Instruments Incorporated (NASDAQ: TXN ) a giant in embedded processors and analog chips, with strong margins and a dominant market position. Find out why Barron's believes shareholders could see 10-percent annual returns for years. Jack Hough's "A Surge of Dealmaking Ahead for Cable, Wireless" makes the case that as cable and wireless operators contemplate joining forces, plenty of opportunity lurks for investors. The article includes possible takeover targets such as Frontier Communications Corp (NASDAQ: FTR ) and Sprint Corp (NYSE: S ), and check out who else is in the mix as well. See also: Benzinga's Bulls And Bears For The Past Week: Delta Air Lines, Buffalo Wild Wings And More Since taking up the reins in 1990, the Mendelson family has found a runway to riches with Heico Corp (NYSE: HEI ), a maker of replacement aircraft parts, according to "A Niche Business With Extraordinary Returns" by money manager Adam Seessel. See why the stock of one of the best companies investors probably have never heard of could climb sharply going forward. In Andrew Bary's "As Altaba Winds Down Yahoo!'s Holdings, Shares May Post 20% Gain," find out why Altaba Inc (NASDAQ: AABA ), which is what remains of Yahoo after the sale of its internet business to Verizon Communications Inc. (NYSE: VZ ) in June, still offers a lot of ways for investors to win, according to a key research analyst. For instance, the stock trades at a significant discount to its net asset value. Also In This Week's Barron's How to invest in Bitcoin. A skeptic's view of popular stocks. Fed Chair Janet Yellen's prediction of no more financial crises. The path back to normal for central banks. Chip insurgents gaining on Intel Corporation (NASDAQ: INTC ). How to play Latin America's stealth rally. Whether to be wary of "too clever" ETFs. Bank payouts that are set to rise. Why U.S. jobs data are not fake news. See more from Benzinga What Do Short Sellers Know About Home Depot? Benzinga's Bulls & Bears For The Past Week: Netflix, AMD, Colgate And More © 2017 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. View comments \|\| JOBS WEEK What you need to know in markets this week: This is Yahoo Finances preview of the week ahead in markets. For Myles take on the stock markets surprising rally this year, scroll down. After we wrapped up the month, the quarter, and the first three-quarters of the decade last week, markets this week will turn their attention the U.S. jobs report and the second half of 2017. On Friday, the June employment numbers will cross, with economists expecting the economy added 177,000 jobs last month while the unemployment rate remained steady at 4.3%. And after a half-year that saw stocks in the U.S. rally, bond yields fall, and the focus move from what the Trump administration had planned to what Americas biggest tech companies were up to , investors will head into the back half of the year looking for a new script. David Rosenberg, a strategist at Gluskin Sheff, wrote this week that right now it is, a dangerous market. Rosenberg added, What else can one say when the CBOEs VIX is at 10x, the S&P 500 is within 0.6% of an all-time high, the P/E multiple on reported earnings is the second highest in the past thirty years, and value stocks have lagged the broad market by over 10 percentage points this year and have underperformed growth by an extent we have not seen in three decades. The risks are endless at the current time. Economic calendar Monday: Markit U.S. manufacturing PMI, June (52.1 expected; 52.1 previously); ISM manufacturing PMI, June (55.2 expected; 54.9 previously); Construction spending, May (+0.3% expected; -1.4% previously); Auto sales, June (16.5 million expected; 16.58 million previously) Tuesday : Markets closed for July 4th holiday Wednesday : Factory orders, May (-0.5% expected; -0.2% previously); FOMC minutes, June 13-14 meeting Thursday: ADP private payrolls, June (+190,000 expected; +253,000 previously); Initial jobless claims (243,000 expected; 244,000 previously); Trade balance, May (-$46.3 billion; -$47.6 billion previously); Markit services PMI, June (53 expected; 53 previously); ISM non-manufacturing PMI (56.5 expected; 56.9 previously) Friday: Nonfarm payrolls, June (+177,000 expected; +138,000 previously); Unemployment rate, June (4.3% expected; 4.3% previously); Average hourly earnings, month-on-month, June (+0.3% expected; +0.2% previously); Average hourly earnings, year-on-year, June (+2.6% expected; +2.5% previously) Story continues The bull case for stocks this year fell apart, then stocks rallied Coming into 2017, stock market investors were bullish on the plans then-President elect Donald Trump had for the U.S. economy. At the top of the list was tax reform , which Trump pledged would take the U.S. corporate tax rate down to 15% from its current level of 35%. This, analysts argued, would be a boon to U.S. profit margins and stocks rallied after his win. Additionally, stocks levered to an increase in infrastructure spending rallied, as did financials, as the Trump agenda was seen as something which would both be goods for stocks and executed in due time. Higher expected interest rates also sent bond yields higher. But by the end of the first quarter, these trades had started to unwind and yet, stocks were on the move higher. In the first half of 2017, the S&P 500 gained 8.2%. And as the Trump trades fell apart, big-cap tech companies once known as FANG but re-cast by Goldman Sachs analysts as FAAMG , became the market story in 2017. Facebook ( FB ) shares gained 31%, Apple ( AAPL ) gained 24%, Amazon ( AMZN ) added 29%, Microsoft ( MSFT ) shares rallied 10%, and Google parent Alphabet ( GOOGL ) rose 17%. Together, these companies added about $600 billion in market cap this year and are worth over $2.6 trillion collectively. This is the world we live in. Instead of investors looking to Washington, D.C. for guidance on where stocks would go they instead look to the big-cap tech stocks that define our digital lives and power the trend towards buying growth stocks that investors became enamored with this year. And while the markets driving narrative shifted from Trump to tech, the seas were calm, with the markets biggest peak-to-trough drawdown this year coming in at 2.8%, the lowest since 1995, according to Charlie Bilello , director of research at Pension Partners. Meanwhile, Bitcoin, blockchain, and digital currencies closed out the first half of the year with a cover story in Barrons , a sentiment check for those who have seen this space emerge as perhaps the most talked about asset class of the year. In the end, however, the old adage was true: stocks usually go up . On a log scale, the stock markets rise looks smooth. Along the way, things didnt seem so clear. (Source: Yahoo Finance) But the lessons of the first half of 2017 just as those we highlighted in 2016 remain very much the same. Since 1950, the S&P 500 has gone up just shy of 9% per year ; over the last century stocks have risen, on average, closer to 7% per year. Over this long arc, the returns look smooth and the idea is simple. As it happens, however, the markets action and the stories we tell about it appear lumpy, foolish, and contradictory, at the very least. The daily market action is jumble of ideas and technicalities and humans and computers colliding. Or as the philosopher Joseph Campbell attributes to Arthur Schopenhauer, when you look back on your life, it looks as though it were a plot, but when you are into it, its a mess: just one surprise after another. Then, later, you see it was perfect. In markets as in life. Myles Udland is a writer at Yahoo Finance. Follow him on Twitter @MylesUdland Read more from Myles here: Amazon is not going to be afraid of a Whole Foods flop The market is being powered by five big tech stocks and thats normal Its a great time to be a college grad in America How self-driving trucks can create more jobs than they kill How Trump can fix the most persistent problem in the U.S. economy \|\| JOBS WEEK What you need to know in markets this week: This is Yahoo Finances preview of the week ahead in markets. For Myles take on the stock markets surprising rally this year, scroll down. After we wrapped up the month, the quarter, and the first three-quarters of the decade last week, markets this week will turn their attention the U.S. jobs report and the second half of 2017. On Friday, the June employment numbers will cross, with economists expecting the economy added 177,000 jobs last month while the unemployment rate remained steady at 4.3%. And after a half-year that saw stocks in the U.S. rally, bond yields fall, and the focus move from what the Trump administration had planned to what Americas biggest tech companies were up to , investors will head into the back half of the year looking for a new script. David Rosenberg, a strategist at Gluskin Sheff, wrote this week that right now it is, a dangerous market. Rosenberg added, What else can one say when the CBOEs VIX is at 10x, the S&P 500 is within 0.6% of an all-time high, the P/E multiple on reported earnings is the second highest in the past thirty years, and value stocks have lagged the broad market by over 10 percentage points this year and have underperformed growth by an extent we have not seen in three decades. The risks are endless at the current time. Economic calendar Monday: Markit U.S. manufacturing PMI, June (52.1 expected; 52.1 previously); ISM manufacturing PMI, June (55.2 expected; 54.9 previously); Construction spending, May (+0.3% expected; -1.4% previously); Auto sales, June (16.5 million expected; 16.58 million previously) Tuesday : Markets closed for July 4th holiday Wednesday : Factory orders, May (-0.5% expected; -0.2% previously); FOMC minutes, June 13-14 meeting Thursday: ADP private payrolls, June (+190,000 expected; +253,000 previously); Initial jobless claims (243,000 expected; 244,000 previously); Trade balance, May (-$46.3 billion; -$47.6 billion previously); Markit services PMI, June (53 expected; 53 previously); ISM non-manufacturing PMI (56.5 expected; 56.9 previously) Friday: Nonfarm payrolls, June (+177,000 expected; +138,000 previously); Unemployment rate, June (4.3% expected; 4.3% previously); Average hourly earnings, month-on-month, June (+0.3% expected; +0.2% previously); Average hourly earnings, year-on-year, June (+2.6% expected; +2.5% previously) Story continues The bull case for stocks this year fell apart, then stocks rallied Coming into 2017, stock market investors were bullish on the plans then-President elect Donald Trump had for the U.S. economy. At the top of the list was tax reform , which Trump pledged would take the U.S. corporate tax rate down to 15% from its current level of 35%. This, analysts argued, would be a boon to U.S. profit margins and stocks rallied after his win. Additionally, stocks levered to an increase in infrastructure spending rallied, as did financials, as the Trump agenda was seen as something which would both be goods for stocks and executed in due time. Higher expected interest rates also sent bond yields higher. But by the end of the first quarter, these trades had started to unwind and yet, stocks were on the move higher. In the first half of 2017, the S&P 500 gained 8.2%. And as the Trump trades fell apart, big-cap tech companies once known as FANG but re-cast by Goldman Sachs analysts as FAAMG , became the market story in 2017. Facebook ( FB ) shares gained 31%, Apple ( AAPL ) gained 24%, Amazon ( AMZN ) added 29%, Microsoft ( MSFT ) shares rallied 10%, and Google parent Alphabet ( GOOGL ) rose 17%. Together, these companies added about $600 billion in market cap this year and are worth over $2.6 trillion collectively. This is the world we live in. Instead of investors looking to Washington, D.C. for guidance on where stocks would go they instead look to the big-cap tech stocks that define our digital lives and power the trend towards buying growth stocks that investors became enamored with this year. And while the markets driving narrative shifted from Trump to tech, the seas were calm, with the markets biggest peak-to-trough drawdown this year coming in at 2.8%, the lowest since 1995, according to Charlie Bilello , director of research at Pension Partners. Meanwhile, Bitcoin, blockchain, and digital currencies closed out the first half of the year with a cover story in Barrons , a sentiment check for those who have seen this space emerge as perhaps the most talked about asset class of the year. In the end, however, the old adage was true: stocks usually go up . On a log scale, the stock markets rise looks smooth. Along the way, things didnt seem so clear. (Source: Yahoo Finance) But the lessons of the first half of 2017 just as those we highlighted in 2016 remain very much the same. Since 1950, the S&P 500 has gone up just shy of 9% per year ; over the last century stocks have risen, on average, closer to 7% per year. Over this long arc, the returns look smooth and the idea is simple. As it happens, however, the markets action and the stories we tell about it appear lumpy, foolish, and contradictory, at the very least. The daily market action is jumble of ideas and technicalities and humans and computers colliding. Or as the philosopher Joseph Campbell attributes to Arthur Schopenhauer, when you look back on your life, it looks as though it were a plot, but when you are into it, its a mess: just one surprise after another. Then, later, you see it was perfect. In markets as in life. Myles Udland is a writer at Yahoo Finance. Follow him on Twitter @MylesUdland Read more from Myles here: Amazon is not going to be afraid of a Whole Foods flop The market is being powered by five big tech stocks and thats normal Its a great time to be a college grad in America How self-driving trucks can create more jobs than they kill How Trump can fix the most persistent problem in the U.S. economy \|\| Watch That Globe-Circling, Business-Crushing Malware Wreck Computers: Curious to know what Tuesday’sglobal cyber attacklooked like inside the businesses thatfound themselves victim? Wonder no longer. Daniel White, a cartographer who, in his spare time, runs apopular YouTube channelabout computer viruses,published a video demonstrationof the malicious software in action on Thursday. The demo had about 30,000 views at press time. In the video, White, who goes by the online alias “danooct1,” spins up four virtual machines--computer simulations within another computer--each running versions of Windows and connected on a local area network. The simulations contain copies of identical “dummy files,” which White uses to show the progress of the attack. Get Data Sheet, Fortune's technology newsletter. Within minutes of setting the malware into motion on one of the machines, the infection spreads across the network and runs its destructive course. One by one, White’s dummy files are encrypted, rendering them into inaccessible, alphanumeric gobbledygook. The malware--referred to as Petya, NotPetya, ExPet, Nyetya, along with other names--then forces the systems to reboot. When the computers come back online, their screens display false notes about “repairing” file systems until, ultimately, ransom notes demanding $300 in Bitcoin appear. You can watch the full video below. The cyber attack, which initiallyspread out of Ukraine, took down corporate networks at the Danish shipping companyMaersk, American drugmakerMerck, Russian oil giant Rosneft, British ad agency WPP, and British law firmDLA Piper, among other places. To spread the attack far and wide, the perpetrators apparently used hijacked auto-update software from a Ukrainian firm, leaked U.S. National Security Agency hacking tools, flaws in Microsoft Windows, and common IT administrative software, researchers has said. There has been some contention among security researchers about whether to classify this malware as a buggy piece of ransomware that, purposely or not, fails to provide a way for people to restore their systems, or as a “wiper,” intended from the outset to raze these networks. Both sides agree, however, that once infected, victims have little hope of recovering their data--even if theypay the demanded sum. See original article on Fortune.com More from Fortune.com • 3 Ways to Protect Your Data in the Cloud • India Wants a Discount on Microsoft Windows • Tech Giants Have Been Lobbying to Soften a Ban on Working With Russian Spies • Global Shipping Giant Maersk Is Reeling From the Ransomware Fallout • Police Suggest Petya Ransomware Attack Was a Distraction \|\| Watch That Globe-Circling, Business-Crushing Malware Wreck Computers: Curious to know what Tuesday’s global cyber attack looked like inside the businesses that found themselves victim ? Wonder no longer. Daniel White, a cartographer who, in his spare time, runs a popular YouTube channel about computer viruses, published a video demonstration of the malicious software in action on Thursday. The demo had about 30,000 views at press time. In the video, White, who goes by the online alias “danooct1,” spins up four virtual machines--computer simulations within another computer--each running versions of Windows and connected on a local area network. The simulations contain copies of identical “dummy files,” which White uses to show the progress of the attack. Get Data Sheet , Fortune's technology newsletter. Within minutes of setting the malware into motion on one of the machines, the infection spreads across the network and runs its destructive course. One by one, White’s dummy files are encrypted, rendering them into inaccessible, alphanumeric gobbledygook. The malware--referred to as Petya, NotPetya, ExPet, Nyetya, along with other names--then forces the systems to reboot. When the computers come back online, their screens display false notes about “repairing” file systems until, ultimately, ransom notes demanding $300 in Bitcoin appear. You can watch the full video below. The cyber attack, which initially spread out of Ukraine , took down corporate networks at the Danish shipping company Maersk , American drugmaker Merck , Russian oil giant Rosneft, British ad agency WPP, and British law firm DLA Piper , among other places. To spread the attack far and wide, the perpetrators apparently used hijacked auto-update software from a Ukrainian firm, leaked U.S. National Security Agency hacking tools, flaws in Microsoft Windows, and common IT administrative software, researchers has said. There has been some contention among security researchers about whether to classify this malware as a buggy piece of ransomware that, purposely or not, fails to provide a way for people to restore their systems, or as a “wiper,” intended from the outset to raze these networks. Both sides agree, however, that once infected, victims have little hope of recovering their data--even if they pay the demanded sum . Story continues See original article on Fortune.com More from Fortune.com 3 Ways to Protect Your Data in the Cloud India Wants a Discount on Microsoft Windows Tech Giants Have Been Lobbying to Soften a Ban on Working With Russian Spies Global Shipping Giant Maersk Is Reeling From the Ransomware Fallout Police Suggest Petya Ransomware Attack Was a Distraction \|\| How Bitcoin Is Like Donald Trump: InvestorPlace - Stock Market News, Stock Advice & Trading Tips Bitcoinand other cryptocurrencies share a similarity to President Donald Trump because people keep finding themselves looking at the sizzle, when they should be eyeballing the steak. Source: Shutterstock Bitcoin & Co. are the sizzle. Blockchain — the technology they’re derived from — is the steak. Crypto-currencies are backed by nothing, save the excess cash available to buy and trade them. They can rise in value as quickly as they fall because they’re even less real than the baseball cards you had as a kid. It’s true. Some people are “making” real money with them, getting in early. But when the leaders of a “market” are convictedconvicted felons, you’re dealing with professional wrestling, not a real sport. Blockchain — the idea of an encrypted ledger, with an audit trail to resist manipulation, andan Internet-like structure to resist attack— is the steak here. • Should You Buy Bitcoin? 3 Pros, 3 Cons Blockchain can secure all kinds of markets, and fully automate markets like payments you thought were automated already. This lies at the heart of the technology. The more scaled the database technology behind a blockchain, the greater its throughput and the more business it can handle. This is the reason the cryptocoinEthereumis now outperforming Bitcoin in the market. Ethereum is a newer implementation of the blockchain technology. Its transaction processing systems have greater throughput, andeven faster systems are being developed for it. But blockchain is not just about throughput. Blockchain systems allow information to be entered into a financial system just once, kept securely and matched by machines. There’s no re-checking and paperwork involved. This doesn’t just eliminate clerk jobs. It eliminates banking jobs, broker jobs anda host of white-collar functionsnow filling the skyscrapers of central cities around the world. It can also eliminate oversight jobs. Early Bitcoin pioneers liked to claim their system was private and anonymous. That’s why it attracted illegal markets like Silk Road and continues to attract ransomware hackers. But it doesn’t have to be private, which is behind efforts by big banks and governments to control (and tax) it. The key to blockchain is Internet-based technology bypassing gatekeepers. Keep that in mind whenever you read a story about blockchain. The big news on the cryptocurrency front was the bursting of what looks to have been a bubble in leading currencies like Bitcoin and Ethereum. Ethereum seems to have peaked at $413 per coin on June 9, hitting an intra-day low of $208 on June 26 before recovering to about $292 two days later. This had analysts with history degrees trotting out their “tulip mania” charts. Bitcoins peaked at $3,000, falling back to $2,550. This could be just a blow-off in a hot market — Ethereum was at $25 at the start of the year, Bitcoins at $1,000 — orit could be the start of something larger. The cryptocurrency markets are filled with speculators and traders. It is a global market, and we are a long way off from the kind of stability that would let these products stand in for real money. • Bitcoin Is Cryptocurrency, But It's Not Currency But as commodities, they are fun. A group called theDecentralized News Networkin New Jersey is announcing the first version of its blockchain-powered news service. DNN has built a blockchain that will let editors or publishers order political stories, freelancers sign up to write them, and handle the payments. Writers will get a small number of “DNN Tokens” when they sign up, installingMetaMask, an Ethereum plug-in, which would be used on the test bed atKovan, a Turkish research institution. Editors and publishers would buy Kovan tokens and offer them to writers through the testbed. Dana Blankenhornis a financial and technology journalist. He is the author of the historical mystery romanceThe Reluctant Detective Travels in Time, available now at the Amazon Kindle store. Write him [email protected] follow him on Twitter at@danablankenhorn. As of this writing he owned no shares of companies mentioned in this story. To follow the value of crypto currencies bookmarkCoinmarketcap. The postHow Bitcoin Is Like Donald Trumpappeared first onInvestorPlace. \|\| How Bitcoin Is Like Donald Trump: InvestorPlace - Stock Market News, Stock Advice & Trading Tips Bitcoin and other cryptocurrencies share a similarity to President Donald Trump because people keep finding themselves looking at the sizzle, when they should be eyeballing the steak. How Fintech Is Like Donald Trump Source: Shutterstock Bitcoin & Co. are the sizzle. Blockchain the technology theyre derived from is the steak. Crypto-currencies are backed by nothing, save the excess cash available to buy and trade them. They can rise in value as quickly as they fall because theyre even less real than the baseball cards you had as a kid. Its true. Some people are making real money with them, getting in early. But when the leaders of a market are convicted convicted felons , youre dealing with professional wrestling, not a real sport. Blockchain the idea of an encrypted ledger, with an audit trail to resist manipulation, and an Internet-like structure to resist attack is the steak here. Should You Buy Bitcoin? 3 Pros, 3 Cons Blockchain can secure all kinds of markets, and fully automate markets like payments you thought were automated already. This lies at the heart of the technology. The more scaled the database technology behind a blockchain, the greater its throughput and the more business it can handle. This is the reason the cryptocoin Ethereum is now outperforming Bitcoin in the market. Ethereum is a newer implementation of the blockchain technology. Its transaction processing systems have greater throughput, and even faster systems are being developed for it . But blockchain is not just about throughput. Blockchain systems allow information to be entered into a financial system just once, kept securely and matched by machines. Theres no re-checking and paperwork involved. This doesnt just eliminate clerk jobs. It eliminates banking jobs, broker jobs and a host of white-collar functions now filling the skyscrapers of central cities around the world. Story continues It can also eliminate oversight jobs. Early Bitcoin pioneers liked to claim their system was private and anonymous. Thats why it attracted illegal markets like Silk Road and continues to attract ransomware hackers. But it doesnt have to be private, which is behind efforts by big banks and governments to control (and tax) it. The key to blockchain is Internet-based technology bypassing gatekeepers. Keep that in mind whenever you read a story about blockchain. The Bitcoin Bubble Bursts? The big news on the cryptocurrency front was the bursting of what looks to have been a bubble in leading currencies like Bitcoin and Ethereum. Ethereum seems to have peaked at $413 per coin on June 9, hitting an intra-day low of $208 on June 26 before recovering to about $292 two days later. This had analysts with history degrees trotting out their tulip mania charts. Bitcoins peaked at $3,000, falling back to $2,550. This could be just a blow-off in a hot market Ethereum was at $25 at the start of the year, Bitcoins at $1,000 or it could be the start of something larger . The cryptocurrency markets are filled with speculators and traders. It is a global market, and we are a long way off from the kind of stability that would let these products stand in for real money. Bitcoin Is Cryptocurrency, But It's Not Currency But as commodities, they are fun. And Finally A group called the Decentralized News Network in New Jersey is announcing the first version of its blockchain-powered news service. DNN has built a blockchain that will let editors or publishers order political stories, freelancers sign up to write them, and handle the payments. Writers will get a small number of DNN Tokens when they sign up, installing MetaMask , an Ethereum plug-in, which would be used on the test bed at Kovan , a Turkish research institution. Editors and publishers would buy Kovan tokens and offer them to writers through the testbed. Dana Blankenhorn is a financial and technology journalist. He is the author of the historical mystery romance The Reluctant Detective Travels in Time , available now at the Amazon Kindle store. Write him at [email protected] or follow him on Twitter at @danablankenhorn . As of this writing he owned no shares of companies mentioned in this story. To follow the value of crypto currencies bookmark Coinmarketcap . The post How Bitcoin Is Like Donald Trump appeared first on InvestorPlace . \|\| How Bitcoin Is Like Donald Trump: InvestorPlace - Stock Market News, Stock Advice & Trading Tips Bitcoinand other cryptocurrencies share a similarity to President Donald Trump because people keep finding themselves looking at the sizzle, when they should be eyeballing the steak. Source: Shutterstock Bitcoin & Co. are the sizzle. Blockchain — the technology they’re derived from — is the steak. Crypto-currencies are backed by nothing, save the excess cash available to buy and trade them. They can rise in value as quickly as they fall because they’re even less real than the baseball cards you had as a kid. It’s true. Some people are “making” real money with them, getting in early. But when the leaders of a “market” are convictedconvicted felons, you’re dealing with professional wrestling, not a real sport. Blockchain — the idea of an encrypted ledger, with an audit trail to resist manipulation, andan Internet-like structure to resist attack— is the steak here. • Should You Buy Bitcoin? 3 Pros, 3 Cons Blockchain can secure all kinds of markets, and fully automate markets like payments you thought were automated already. This lies at the heart of the technology. The more scaled the database technology behind a blockchain, the greater its throughput and the more business it can handle. This is the reason the cryptocoinEthereumis now outperforming Bitcoin in the market. Ethereum is a newer implementation of the blockchain technology. Its transaction processing systems have greater throughput, andeven faster systems are being developed for it. But blockchain is not just about throughput. Blockchain systems allow information to be entered into a financial system just once, kept securely and matched by machines. There’s no re-checking and paperwork involved. This doesn’t just eliminate clerk jobs. It eliminates banking jobs, broker jobs anda host of white-collar functionsnow filling the skyscrapers of central cities around the world. It can also eliminate oversight jobs. Early Bitcoin pioneers liked to claim their system was private and anonymous. That’s why it attracted illegal markets like Silk Road and continues to attract ransomware hackers. But it doesn’t have to be private, which is behind efforts by big banks and governments to control (and tax) it. The key to blockchain is Internet-based technology bypassing gatekeepers. Keep that in mind whenever you read a story about blockchain. The big news on the cryptocurrency front was the bursting of what looks to have been a bubble in leading currencies like Bitcoin and Ethereum. Ethereum seems to have peaked at $413 per coin on June 9, hitting an intra-day low of $208 on June 26 before recovering to about $292 two days later. This had analysts with history degrees trotting out their “tulip mania” charts. Bitcoins peaked at $3,000, falling back to $2,550. This could be just a blow-off in a hot market — Ethereum was at $25 at the start of the year, Bitcoins at $1,000 — orit could be the start of something larger. The cryptocurrency markets are filled with speculators and traders. It is a global market, and we are a long way off from the kind of stability that would let these products stand in for real money. • Bitcoin Is Cryptocurrency, But It's Not Currency But as commodities, they are fun. A group called theDecentralized News Networkin New Jersey is announcing the first version of its blockchain-powered news service. DNN has built a blockchain that will let editors or publishers order political stories, freelancers sign up to write them, and handle the payments. Writers will get a small number of “DNN Tokens” when they sign up, installingMetaMask, an Ethereum plug-in, which would be used on the test bed atKovan, a Turkish research institution. Editors and publishers would buy Kovan tokens and offer them to writers through the testbed. Dana Blankenhornis a financial and technology journalist. He is the author of the historical mystery romanceThe Reluctant Detective Travels in Time, available now at the Amazon Kindle store. Write him [email protected] follow him on Twitter at@danablankenhorn. As of this writing he owned no shares of companies mentioned in this story. To follow the value of crypto currencies bookmarkCoinmarketcap. The postHow Bitcoin Is Like Donald Trumpappeared first onInvestorPlace. \|\| Follow Buffett Into Bank of America Corp (BAC) Stock: InvestorPlace - Stock Market News, Stock Advice & Trading Tips On the off chance there was any doubt about the matter, Warren Buffett just verified he’s the greatest investor of all time. How so? He’s about to make a trade that will instantly net him a gain of $12 billion on a position in Bank of America Corp (NYSE: BAC ). Follow Buffett Into Bank of America Corp (BAC) Stock Source: Shutterstock Granted, the trade is still technically an unrealized profit on BAC stock. But it doesn’t matter. As long as Buffett — through his Berkshire Hathaway Inc. (NYSE: BRK.A , NYSE: BRK.B ) fund — doesn’t turn the unrealized gain into a real one, he’ll collect at least $300 million in dividends from the position. Plus, he’ll have the option of exiting the trade and banking the gain anytime he wants. That’s why the call him the Oracle of Omaha. The Planets Align There’s a short backstory to the trade. The 7 Best Dividend Stocks to Buy for Q3 and Beyond Back in 2011, when Bank of America was still struggling to dig its way out of the 2008 subprime mess, Warren Buffett was more than glad to provide it with much-needed funding … on one condition. Buffett forked over $5 billion then to buy dividend-paying (a 6% yield) preferred shares , plus the rights to buy 700 million common shares in the distant future at a price of $7.14 apiece. For perspective, BAC stock is presently trading at $24.39, or 240% more than the price Buffett will be paying. With 700 million shares on the table, the total difference between his cost and the trade’s current value is just a tad over $12 billion. Not bad, even if it took six years to get there. The timing of Buffett’s decision and news that Bank of America just passed its so-called “stress test” isn’t a coincidence. With the Federal Reserve effectively saying BofA is financially sound enough to return more capital to BAC stock owners than it’s been able to dish out in the recent past, Bank of America is forging ahead with its plans to gradually raise its dividend from the current annual payout of 30 cents per share to a pace of 48 cents per share beginning in the third quarter of this year . Story continues At an annual payout of 44 cents, it becomes more fruitful — meaning the dividend is bigger — for Buffett’s Berkshire Hathaway to own the common stock rather than the preferred stock. Berkshire will simply swap the latter for the former. Lessons Learned In the grand scheme of things, the successful trade from Buffett shouldn’t come as a surprise to anyone. Warren Buffett practices what he preaches, and is impressively disciplined. Two of his axioms really come shining through with this particular trade, though. 1. Only buy something that you’d be perfectly happy to hold if the market shut down for 10 years: This tip is arguably interchangeable with his similar sounding, “My favorite holding period is forever.” Though he only held the preferred stock and the warrants for six years, the plan all along was to turn it into a long-term trade in BAC stock. It’s just that his entry allowed him to lower his risk and his entry price. He’s still going to hold onto all those common shares indefinitely. 2. Price is what you pay. Value is what you get: That’s the more poetic way of saying you can’t be afraid to buy into good companies even when their stocks are being beaten to a pulp. Good companies always find a way to recover, and their stocks will eventually snap back to reflect that recovery. He was able to pay a low price for BAC stock, but the value was always there. It just needed some time to be unleashed. Looking Ahead for BAC Stock For those investors that didn’t get into BofA back in 2011 or didn’t get a sweet deal on warrants to purchase the stock, don’t sweat. Everyone has stories about “the one that got away,” including Buffett. Just take the fact that he’s sticking with BAC stock now at face value. He doesn’t have to do that. He’s choosing to do that. Indeed, with plans to ramp up the dividend to 48 cents per share before the end of next year, Bank of America shares are trading at a forward-looking dividend yield of just under 2%. Bank of America Corp (BAC) Stock Gets Fed Clearance for Takeoff That’s not huge, but it’s healthy, and BofA is sporting a very healthy growth trajectory … finally. The annual dividend is apt to keep growing well beyond the 48 cent mark too, barring some sort of major economic headwind that not even Buffett sees on the horizon. As of this writing, James Brumley did not hold a position in any of the aforementioned securities. More From InvestorPlace 3 Stocks to Buy to Leverage the Bitcoin Craze Why I Won't Go Near Ford Motor Company (F) Stock 3 Great Fidelity Funds That AREN'T Magellan The post Follow Buffett Into Bank of America Corp (BAC) Stock appeared first on InvestorPlace . \|\| Follow Buffett Into Bank of America Corp (BAC) Stock: InvestorPlace - Stock Market News, Stock Advice & Trading Tips On the off chance there was any doubt about the matter, Warren Buffett just verified he’s the greatest investor of all time. How so? He’s about to make a trade that will instantly net him a gain of $12 billion on a position inBank of America Corp(NYSE:BAC). Source: Shutterstock Granted, the trade is still technically an unrealized profit on BAC stock. But it doesn’t matter. As long as Buffett — through hisBerkshire Hathaway Inc.(NYSE:BRK.A, NYSE:BRK.B) fund — doesn’t turn the unrealized gain into a real one, he’ll collect at least $300 million in dividends from the position. Plus, he’ll have the option of exiting the trade and banking the gain anytime he wants. That’s why the call him the Oracle of Omaha. There’s a short backstory to the trade. • The 7 Best Dividend Stocks to Buy for Q3 and Beyond Back in 2011, when Bank of America was still struggling to dig its way out of the 2008 subprime mess, Warren Buffett was more than glad to provide it with much-needed funding … on one condition. Buffettforked over $5 billion then to buy dividend-paying (a 6% yield) preferred shares, plus the rights to buy 700 million common shares in the distant future at a price of $7.14 apiece. For perspective, BAC stock is presently trading at $24.39, or 240% more than the price Buffett will be paying. With 700 million shares on the table, the total difference between his cost and the trade’s current value is just a tad over $12 billion. Not bad, even if it took six years to get there. The timing of Buffett’s decision and news that Bank of Americajust passed its so-called “stress test”isn’t a coincidence. With the Federal Reserve effectively saying BofA is financially sound enough to return more capital to BAC stock owners than it’s been able to dish out in the recent past, Bank of America is forging ahead with its plans to gradually raise its dividend from the current annual payout of 30 cents per shareto a pace of 48 cents per share beginning in the third quarter of this year. At an annual payout of 44 cents, it becomes more fruitful — meaning the dividend is bigger — for Buffett’s Berkshire Hathaway to own the common stock rather than the preferred stock. Berkshire will simply swap the latter for the former. In the grand scheme of things, the successful trade from Buffett shouldn’t come as a surprise to anyone. Warren Buffett practices what he preaches, and is impressively disciplined. Two of his axioms really come shining through with this particular trade, though. 1. Only buy something that you’d be perfectly happy to hold if the market shut down for 10 years: This tip is arguably interchangeable with his similar sounding, “My favorite holding period is forever.” Though he only held the preferred stock and the warrants for six years, the plan all along was to turn it into a long-term trade in BAC stock. It’s just that his entry allowed him to lower his risk and his entry price. He’s still going to hold onto all those common shares indefinitely. 2. Price is what you pay. Value is what you get: That’s the more poetic way of saying you can’t be afraid to buy into good companies even when their stocks are being beaten to a pulp. Good companies always find a way to recover, and their stocks will eventually snap back to reflect that recovery. He was able to pay a low price for BAC stock, but the value was always there. It just needed some time to be unleashed. For those investors that didn’t get into BofA back in 2011 or didn’t get a sweet deal on warrants to purchase the stock, don’t sweat. Everyone has stories about “the one that got away,” including Buffett. Just take the fact that he’s sticking with BAC stock now at face value. He doesn’t have to do that. He’s choosing to do that. Indeed, with plans to ramp up the dividend to 48 cents per share before the end of next year, Bank of America shares are trading at a forward-looking dividend yield of just under 2%. • Bank of America Corp (BAC) Stock Gets Fed Clearance for Takeoff That’s not huge, but it’s healthy, and BofA is sporting a very healthy growth trajectory … finally. The annual dividend is apt to keep growing well beyond the 48 cent mark too, barring some sort of major economic headwind that not even Buffett sees on the horizon. As of this writing, James Brumley did not hold a position in any of the aforementioned securities. • 3 Stocks to Buy to Leverage the Bitcoin Craze • Why I Won't Go Near Ford Motor Company (F) Stock • 3 Great Fidelity Funds That AREN'T Magellan The postFollow Buffett Into Bank of America Corp (BAC) Stockappeared first onInvestorPlace. \|\| Why I Won’t Go Near Ford Motor Company (F) Stock: InvestorPlace - Stock Market News, Stock Advice & Trading Tips I’ve never owned stock in Ford Motor Company (NYSE: F ), or any auto manufacturer, because they are too sensitive to economic changes. Now there are other crosscurrents as well, and I’m even less likely to own F stock, or General Motors Company (NYSE: GM ) for that matter. There’s far too much risk in these auto stocks. Why I Won’t Go Near Ford Motor Company (F) Stock Source: Shutterstock For starters, Ford has a new CEO. He’s shown success as a turnaround artist, whether it be in a furniture company or the University of Michigan’s football program. Still, the new CEO is coming into a difficult situation. April’s sales numbers for Ford were lousy. Retail sales fell 10.5% and fleet sales went nowhere year-over-year. Truck sales have long been the real moneymakers for F stock, and May sales grew 9.4%, but that was on the tail of a 4.2% decline in April. A volatile sales pattern doesn’t inspire confidence. That pattern was also evident in fleet sales, which grew 8.4% in May after that flat April. Still, car sales are a mess, falling 21% in April and 10% in May. 7 ETFs That Can Make You Love Retirement Still, when you look at the broader auto market , sales are falling. YoY, car sales, minivan and small vans are sick as dogs. Car sales fell 11% YoY in May, small vans fell 22% and minivans fell 13.6%. This was inevitable, as car sales cratered in the financial crisis , hitting about 9 million sales in 2009, and had since doubled. There’s another problem that’s been developing for some time, and we have to wait and see how it plays out. The NY Federal Reserve reported May consumer household debt, and the data is disturbing . On page 8 of the report, you can see that the doubling in autos sales was driven by debt. Originations across all credit scores increased dramatically since the financial crisis. Auto loan balances increased by $10 billion, continuing a six-year trend. Story continues On page 12, we can see auto loan delinquencies have started to tick upward, and 30-day-plus transition into delinquencies has been on the rise for some time. The transition into serious delinquencies (90 days plus overdue) has been rising at an even higher rate. Why is the debt issue of concern? As mentioned, it suggests that people are chewing on debt in order to buy cars. So if they cannot meet debt service, or discover that the price they paid for their car is more than what the market is signaling, they may walk away from the loan and the car to buy a cheaper vehicle. That means F stock, which partially depends on its finance business, could see a wave of defaults. But there’s one other wrinkle here, and that’s ride-sharing. As more and more people start using carpool services, that means fewer total miles get put on cars, which reduces demand for all cars, especially used cars. The problem with defaults is that the loss of principal on just one loan wipes out all the income from interest from many loans. That’s why even a few basis points can crater a company that depends on loans. Why might that happen? Look at what J.D. Power Valuation Services says about used car vehicle prices. They have fallen about 12% off their high. This is like an earthquake causing a massive crack in a home’s foundation. Click to Enlarge If used car pricing falls, then new car owners look at “like new” used cars and are more likely to buy from that segment of the market, suppressing new car purchases. That includes trucks. As it is, F stock has suffered as international operations have been flailing. Then used car sales continue to drop per ride-sharing, and the bottom falls out of that market. Tesla Inc (TSLA) Stock Will Make You a Crash Test Dummy I have no idea if all of this will come to pass, but the point is that significant risk exists in F stock, GM stock and the auto market in general. I’m staying away. Lawrence Meyers is the CEO of PDL Capital, a specialty lender focusing on consumer finance. As of this writing, he does not own any stocks mentioned. He has 22 years’ experience in the stock market, and has written more than 1,600 articles on investing. He also is the Manager of the forthcoming Liberty Portfolio. Lawrence Meyers can be reached at [email protected] . More From InvestorPlace The 7 Best Dividend Stocks to Buy for Q3 and Beyond This Is Why Starbucks Corporation (SBUX) Stock Is Just Getting Started 3 Stocks to Buy to Leverage the Bitcoin Craze The post Why I Won’t Go Near Ford Motor Company (F) Stock appeared first on InvestorPlace . \|\| Why I Won’t Go Near Ford Motor Company (F) Stock: InvestorPlace - Stock Market News, Stock Advice & Trading Tips I’ve never owned stock in Ford Motor Company (NYSE: F ), or any auto manufacturer, because they are too sensitive to economic changes. Now there are other crosscurrents as well, and I’m even less likely to own F stock, or General Motors Company (NYSE: GM ) for that matter. There’s far too much risk in these auto stocks. Why I Won’t Go Near Ford Motor Company (F) Stock Source: Shutterstock For starters, Ford has a new CEO. He’s shown success as a turnaround artist, whether it be in a furniture company or the University of Michigan’s football program. Still, the new CEO is coming into a difficult situation. April’s sales numbers for Ford were lousy. Retail sales fell 10.5% and fleet sales went nowhere year-over-year. Truck sales have long been the real moneymakers for F stock, and May sales grew 9.4%, but that was on the tail of a 4.2% decline in April. A volatile sales pattern doesn’t inspire confidence. That pattern was also evident in fleet sales, which grew 8.4% in May after that flat April. Still, car sales are a mess, falling 21% in April and 10% in May. 7 ETFs That Can Make You Love Retirement Still, when you look at the broader auto market , sales are falling. YoY, car sales, minivan and small vans are sick as dogs. Car sales fell 11% YoY in May, small vans fell 22% and minivans fell 13.6%. This was inevitable, as car sales cratered in the financial crisis , hitting about 9 million sales in 2009, and had since doubled. There’s another problem that’s been developing for some time, and we have to wait and see how it plays out. The NY Federal Reserve reported May consumer household debt, and the data is disturbing . On page 8 of the report, you can see that the doubling in autos sales was driven by debt. Originations across all credit scores increased dramatically since the financial crisis. Auto loan balances increased by $10 billion, continuing a six-year trend. Story continues On page 12, we can see auto loan delinquencies have started to tick upward, and 30-day-plus transition into delinquencies has been on the rise for some time. The transition into serious delinquencies (90 days plus overdue) has been rising at an even higher rate. Why is the debt issue of concern? As mentioned, it suggests that people are chewing on debt in order to buy cars. So if they cannot meet debt service, or discover that the price they paid for their car is more than what the market is signaling, they may walk away from the loan and the car to buy a cheaper vehicle. That means F stock, which partially depends on its finance business, could see a wave of defaults. But there’s one other wrinkle here, and that’s ride-sharing. As more and more people start using carpool services, that means fewer total miles get put on cars, which reduces demand for all cars, especially used cars. The problem with defaults is that the loss of principal on just one loan wipes out all the income from interest from many loans. That’s why even a few basis points can crater a company that depends on loans. Why might that happen? Look at what J.D. Power Valuation Services says about used car vehicle prices. They have fallen about 12% off their high. This is like an earthquake causing a massive crack in a home’s foundation. Click to Enlarge If used car pricing falls, then new car owners look at “like new” used cars and are more likely to buy from that segment of the market, suppressing new car purchases. That includes trucks. As it is, F stock has suffered as international operations have been flailing. Then used car sales continue to drop per ride-sharing, and the bottom falls out of that market. Tesla Inc (TSLA) Stock Will Make You a Crash Test Dummy I have no idea if all of this will come to pass, but the point is that significant risk exists in F stock, GM stock and the auto market in general. I’m staying away. Lawrence Meyers is the CEO of PDL Capital, a specialty lender focusing on consumer finance. As of this writing, he does not own any stocks mentioned. He has 22 years’ experience in the stock market, and has written more than 1,600 articles on investing. He also is the Manager of the forthcoming Liberty Portfolio. Lawrence Meyers can be reached at [email protected] . More From InvestorPlace The 7 Best Dividend Stocks to Buy for Q3 and Beyond This Is Why Starbucks Corporation (SBUX) Stock Is Just Getting Started 3 Stocks to Buy to Leverage the Bitcoin Craze The post Why I Won’t Go Near Ford Motor Company (F) Stock appeared first on InvestorPlace . \|\| This Is Why Starbucks Corporation (SBUX) Stock Is Just Getting Started: InvestorPlace - Stock Market News, Stock Advice & Trading Tips Starbucks Corporation (NASDAQ: SBUX ) has come a long way from its 1992 initial public offering and market capitalization of $250 million. Now more than two decades after its IPO, Starbucks by that same measurement is worth $85 billion. Starbucks Corporation Source: Shutterstock From 165 stores to over 24,000 stores, SBUX has led the way in food and beverages, and SBUX stock holders have enjoyed a return leaning up against 20,000%. What Howard Schultz has built is a force to be reckoned with both at home and abroad. Currently, no one else has the lethal combination of scale, branding and technological savvy to compete at the same level. All the while, SBUX has engendered goodwill with the community, managing to uphold a high standard of ethics. SBUX’s Future Is Abroad China, specifically. Starbucks China’s CEO, Belinda Wong, has stated , “In China in the coming five years we are definitely adding 10,000 plus new jobs every year. We open 500 stores a year and our goal is by 2021 … to have 5,000 stores.” 8 Stocks to Sell for July That means there is at least one store opening every day somewhere in China. And against the following economic backdrop, there will be plenty of demand with ever-increasing purchasing power. And by 2022, around 75% of China’s urban population will be considered middle class . That’s some 550 million people ! GDP Growth is forecast at 6%-7% through 2020, and the consumer economy will grow to $6.5 trillion by the end of the decade . At the time of the announcement there were approximately 2,500 stores in China. SBUX intends to infill in the first and second tier cities (Beijing, Guangzhou, Shenzhen, Shanghai) while simultaneously pursuing higher end and a more curated experience in Reserve bars. Further integrating into local Chinese life, SBUX added a social gifting feature on WeChat from Tencent Holdings Ltd (OTCMKTS: TCEHY ), China’s leading mobile social communications service, earlier this year, a show of creativity and good business sense in that market. Story continues This gifting feature allows SBUX to leverage Wechat’s 846 million global monthly active user accounts (as of Q3 of 2016), allowing customers to gift a frappacino with a few taps. Per Capita Right now, Starbucks stores per capita in the U.S. hovers around 41 (based on 319 million and 13,327 stores). Let’s do something drastic. Let’s cut that per capita figure in half to 20 and apply that to a conservative 1.3 billion population. How many theoretical Starbucks stores does that get us to? 26,000. At half the U.S. penetration, SBUX still has room for another 20,000 stores … in China alone. There’s still a long way to go. Lots of expansion opportunities based on conservative assumptions. And this is in a market with best in class ROIs. China boasts great unit economics: For company-owned stores, we are looking at 30% year-one cash profit (29% in the U.S. and 28% in Japan) and 64% return on investment (61% in the U.S., and 55% in Japan). ROI here is defined as total pre-tax cash profit divided by total store investment. A Digital Future A discussion of the future for any company cannot avoid mention of technology. Here, SBUX takes the cake when pitted against retailers and food & beverage companies alike. Starbucks offers the largest mobile ecosystem of any retailer in the world — 13.3 million Starbucks Rewards members and 8 million mobile paying customers (one out of three use Mobile Order & Pay). That’s a lot of engaged users, and the number keeps growing. When it comes to anticipating customers’ wants and needs and making checkout easy, SBUX is king. Last year, it unveiled a new ordering system, called My Starbucks Barista, powered by artificial intelligence (AI). This upgrade will let customers place orders via voice command or messaging interface. They will continue in this vein to out-digitize competitors, while increasing the stickiness of customers. Bottom Line on SBUX Stock Time and time again, SBUX demonstrates its commitment to innovation from digital technology to tea beverages (this concept hasn’t taken off in the way management has hoped but the future is promising with a massive global tea market without a dominant player) to food to new store concepts. Apple Inc. (AAPL) Stock and Its iPhone Woes Reveal a Critical Weakness As the company continues to tweak concepts and leverage its global supply chain, it will become harder and harder for competitors to catch up. The divide in footprint and growth will become increasingly wide. Twenty years from now, you’ll look back with regret if you didn’t own it “back in the day.” As of this writing, Luce Emerson did not hold a position in any of the aforementioned securities. More From InvestorPlace The 7 Best Dividend Stocks to Buy for Q3 and Beyond Bet on the T-Mobile US Inc (TMUS) Stock Bulls 3 Stocks to Buy to Leverage the Bitcoin Craze The post This Is Why Starbucks Corporation (SBUX) Stock Is Just Getting Started appeared first on InvestorPlace . \|\| This Is Why Starbucks Corporation (SBUX) Stock Is Just Getting Started: InvestorPlace - Stock Market News, Stock Advice & Trading Tips Starbucks Corporation(NASDAQ:SBUX) has come a long way from its 1992 initial public offering and market capitalization of $250 million. Now more than two decades after its IPO, Starbucks by that same measurement is worth $85 billion. Source: Shutterstock From 165 stores to over 24,000 stores, SBUX has led the way in food and beverages, and SBUX stock holders have enjoyed a return leaning up against 20,000%. What Howard Schultz has built is a force to be reckoned with both at home and abroad. Currently, no one else has the lethal combination of scale, branding and technological savvy to compete at the same level. All the while, SBUX has engendered goodwill with the community, managing to uphold a high standard of ethics. China, specifically. Starbucks China’s CEO, Belinda Wong,has stated, “In China in the coming five years we are definitely adding 10,000 plus new jobs every year. We open 500 stores a year and our goal is by 2021 … to have 5,000 stores.” • 8 Stocks to Sell for July That means there is at least one store opening every day somewhere in China. And against the following economic backdrop, there will be plenty of demand with ever-increasing purchasing power. And by 2022, around 75% of China’s urban populationwill be considered middle class. That’s some550 million people! GDP Growth is forecast at 6%-7% through 2020, and theconsumer economy will grow to $6.5 trillion by the end of the decade. At the time of the announcement there were approximately 2,500 stores in China. SBUX intends to infill in the first and second tier cities (Beijing, Guangzhou, Shenzhen, Shanghai) while simultaneously pursuing higher end and a more curated experience in Reserve bars. Further integrating into local Chinese life, SBUX added a social gifting feature on WeChat fromTencent Holdings Ltd(OTCMKTS:TCEHY), China’s leading mobile social communications service, earlier this year, a show of creativity and good business sense in that market. This gifting feature allows SBUX to leverage Wechat’s 846 million global monthly active user accounts (as of Q3 of 2016), allowing customers to gift a frappacino with a few taps. Right now, Starbucks stores per capita in the U.S. hovers around 41 (based on 319 million and 13,327 stores). Let’s do something drastic. Let’s cut that per capita figure in half to 20 and apply that to a conservative 1.3 billion population. How many theoretical Starbucks stores does that get us to? 26,000. At half the U.S. penetration, SBUX still has room for another 20,000 stores … in China alone. There’s still a long way to go. Lots of expansion opportunities based on conservative assumptions. And this is in a market with best in class ROIs. China boasts great unit economics: For company-owned stores, we are looking at 30% year-one cash profit (29% in the U.S. and 28% in Japan) and 64% return on investment (61% in the U.S., and 55% in Japan). ROI here is defined as total pre-tax cash profit divided by total store investment. A discussion of the future for any company cannot avoid mention of technology. Here, SBUX takes the cake when pitted against retailers and food & beverage companies alike. Starbucks offers the largest mobile ecosystem of any retailer in the world — 13.3 million Starbucks Rewards members and 8 million mobile paying customers (one out of three use Mobile Order & Pay). That’s a lot of engaged users, and the number keeps growing. When it comes to anticipating customers’ wants and needs and making checkout easy, SBUX is king. Last year, it unveiled a new ordering system, called My Starbucks Barista, powered by artificial intelligence (AI). This upgrade will let customers place orders via voice command or messaging interface. They will continue in this vein to out-digitize competitors, while increasing the stickiness of customers. Time and time again, SBUX demonstrates its commitment to innovation from digital technology to tea beverages (this concept hasn’t taken off in the way management has hoped but the future is promising with a massive global tea market without a dominant player) to food to new store concepts. • Apple Inc. (AAPL) Stock and Its iPhone Woes Reveal a Critical Weakness As the company continues to tweak concepts and leverage its global supply chain, it will become harder and harder for competitors to catch up. The divide in footprint and growth will become increasingly wide. Twenty years from now, you’ll look back with regret if you didn’t own it “back in the day.” As of this writing, Luce Emerson did not hold a position in any of the aforementioned securities. • The 7 Best Dividend Stocks to Buy for Q3 and Beyond • Bet on the T-Mobile US Inc (TMUS) Stock Bulls • 3 Stocks to Buy to Leverage the Bitcoin Craze The postThis Is Why Starbucks Corporation (SBUX) Stock Is Just Getting Startedappeared first onInvestorPlace. \|\| This Is the Cryptocurrency Mark Cuban Is Backing: Entrepreneur Mark Cuban,who previously helped Bitcoin’s value drop after calling it a “bubble,”is now interested in another digital currency. And no, it is not Ethereum, but theUnikoinGold. According theCoindesk, Cuban is participating in anotherfundraising round of one of his portfolio companies, a sports-betting blockchain platform dubbed Unikrn, via an initial coin offering. An ICO is a crowdfunding method that has grown in popularity as of late among blockchain startups, with more than30 ICOsalready this year. Companies sell their own digital currencies and use theproceeds to fund their businesses. Unikrn has already raised some $10 million from investors, including Ashton Kutcher. The company allows anyone to place bets with its digital token, the Unikoin, according to Coindesk. Investors will be allowed to register for the pre-sale starting mid-July. About 1 billion UnikoinGold tokens will be up for grabs. The company has yet to establish a price for the UnikoinGold, though investors will be able to exchange digital currency for Ether, the token under Ethereum. \|\| This Is the Cryptocurrency Mark Cuban Is Backing: Entrepreneur Mark Cuban, who previously helped Bitcoin’s value drop after calling it a “bubble,” is now interested in another digital currency. And no, it is not Ethereum, but the UnikoinGold . According the Coindesk , Cuban is participating in another fundraising round of one of his portfolio companies , a sports-betting blockchain platform dubbed Unikrn, via an initial coin offering. An ICO is a crowdfunding method that has grown in popularity as of late among blockchain startups, with more than 30 ICOs already this year. Companies sell their own digital currencies and use the proceeds to fund their businesses . Unikrn has already raised some $10 million from investors, including Ashton Kutcher. The company allows anyone to place bets with its digital token, the Unikoin, according to Coindesk. Investors will be allowed to register for the pre-sale starting mid-July. About 1 billion UnikoinGold tokens will be up for grabs. The company has yet to establish a price for the UnikoinGold, though investors will be able to exchange digital currency for Ether, the token under Ethereum. \|\| The Bears are Waiting for Their Chance in the Nasdaq: InvestorPlace - Stock Market News, Stock Advice & Trading Tips U.S. equities finished sharply lower on Thursday, although off of their worst levels, as a rise in long-term interest rates and recent central bank hawkishness took a toll. Big-cap tech stocks resumed their on-again, off-again weakness, dragging the major indices lower. In the end, theDow Jones Industrial Averagelost 0.8%, theS&P 500lost 0.9%, theNasdaq Compositelost 1.4% and theRussell 2000lost 0.6%. Treasury bonds extended their recent selloff, the dollar weakened, gold fell 0.3% and crude oil gained 0.4% for the sixth straight gain. Breadth was heavily negative, with 2.4 decliners for every advancing issue on the NYSE. Click to Enlarge Technology stocks were on the chopping block, down 1.8% as a group:Facebook Inc(NASDAQ:FB) fell 1.4%,Amazon.com, Inc.(NASDAQ:AMZN) fell 1.5%,Apple Inc.(NASDAQ:AAPL) fell 1.5%,Microsoft Corporation(NASDAQ:MSFT) fell 1.9% andAlphabet Inc(NASDAQ:GOOG, NASDAQ:GOOGL) fell 2.4%. • The 7 Best Dividend Stocks to Buy for Q3 and Beyond Semiconductors were among the day’s hardest hit, withNvidia Corporation(NASDAQ:NVDA) down 3.3% andAdvanced Micro Devices, Inc.(NASDAQ:AMD) down 4.8% asThe Wall Street Journalsuggests the company’s revenues are too exposed to cryptocurrency mining. Qualcomm, Inc.(NASDAQ:QCOM) fell 1.9%, boosting the July QCOM $56 puts recommended toEdge Prosubscribers to a 67% gain since added on Tuesday. Click to Enlarge Financials bucked the trend to gain 0.7% as a group thanks to net interest margin hopes. TheFinancial Select Sector SPDR Fund(NYSEARCA:XLF) is on the verge of an upside breakout from a long seven-month consolidation pattern. It’ll be interesting to see how the market bulls reconcile tech weakness/bank strength since both are heavily weighed sectors in the major averages. Also helping the banks was the announcement of capital return plans last night following the passage of Federal Reserve “stress test” capital tests.Citigroup Inc(NYSE:C) gained 2.8% on a larger-than-expected 100% dividend increase and a $15.6 billion buyback plan. In other corporate news,Staples, Inc.(NASDAQ:SPLS) gained 1.5% after agreeing to be acquired by Sycamore Partners for $10.25 per share in cash or nearly $7 billion.Groupon Inc(NASDAQ:GRPN) gained 4.3% on an upgrade from analysts at B Riley. AndLululemon Athletica Inc.(NASDAQ:LULU) gained 5.2% after its chairman purchased $5.5 million worth of shares. Rite Aid Corporation(NYSE:RAD) collapsed 26.5% after the company andWalgreens Boots Alliance Inc(NASDAQ:WBA) terminated their merger agreement due to regulator opposition. WBA will still acquire nearly 2,200 stores for $5.2 billion in cash. The company also announced Q1 earnings well below estimates on a 3.9% decline in same-store sales. Click to Enlarge The single biggest dynamic in play right now is the weakness hitting Treasury bonds as shown above. This is being driven by hawkish commentary from Federal Reserve officials lately, who have echoed each other on worries about elevated asset price valuations (stocks too expensive), leverage (too much credit overhang), reach-for-yield behavior (sentiment too hot), and the fact that credit conditions have loosened since they started tightening policy in December 2015 (based largely on the fact stock prices are up some 20% since then. Click to Enlarge Source: OptionsAnalytix There is a technical element to the action as well amid a reversal of some recent trends: Crude oil is up six days in a row, which is boosting inflation expectations, lifting long-term yields (thus weakening bonds), and weakening the dollar (down five of the last seven days). This is the best opportunity the bears have had in months to pile on: The Nasdaq 100 closed back below its 50-day moving average, a level that hasn’t been traded below in a major way since early December. • Buy Tesla Inc (TSLA)? Try This Undervalued Auto Stock Instead. That’s great news for theProShares UltraShort QQQ (ETF)(NYSEARCA:QID). Check out Serge Berger’sTrade of the Dayfor June 30. To see a list of the companies reporting earnings today,click here. For a list of this week’s economic reports due out,click here. Tell us what you think about this article! Drop us an email [email protected],chat with us on Twitter at@InvestorPlaceorcomment on the post on Facebook. Read more about ourcomments policy here. Anthony Mirhaydari is founder of theEdge(ETFs) andEdge Pro(Options) investment advisory newsletters. A two-week and four-week free trial offer has been extended to Investorplace readers. • 7 ETFs That Can Make You Love Retirement • 3 Stocks to Buy to Leverage the Bitcoin Craze • 3 Great Fidelity Funds That AREN'T Magellan The postThe Bears are Waiting for Their Chance in the Nasdaqappeared first onInvestorPlace. \|\| The Bears are Waiting for Their Chance in the Nasdaq: InvestorPlace - Stock Market News, Stock Advice & Trading Tips U.S. equities finished sharply lower on Thursday, although off of their worst levels, as a rise in long-term interest rates and recent central bank hawkishness took a toll. Big-cap tech stocks resumed their on-again, off-again weakness, dragging the major indices lower. In the end, the Dow Jones Industrial Average lost 0.8%, the S&P 500 lost 0.9%, the Nasdaq Composite lost 1.4% and the Russell 2000 lost 0.6%. Treasury bonds extended their recent selloff, the dollar weakened, gold fell 0.3% and crude oil gained 0.4% for the sixth straight gain. Breadth was heavily negative, with 2.4 decliners for every advancing issue on the NYSE. Click to Enlarge Technology stocks were on the chopping block, down 1.8% as a group: Facebook Inc (NASDAQ: FB ) fell 1.4%, Amazon.com, Inc. (NASDAQ: AMZN ) fell 1.5%, Apple Inc. (NASDAQ: AAPL ) fell 1.5%, Microsoft Corporation (NASDAQ: MSFT ) fell 1.9% and Alphabet Inc (NASDAQ: GOOG , NASDAQ: GOOGL ) fell 2.4%. The 7 Best Dividend Stocks to Buy for Q3 and Beyond Semiconductors were among the day’s hardest hit, with Nvidia Corporation (NASDAQ: NVDA ) down 3.3% and Advanced Micro Devices, Inc. (NASDAQ: AMD ) down 4.8% as The Wall Street Journal suggests the company’s revenues are too exposed to cryptocurrency mining. Qualcomm, Inc. (NASDAQ: QCOM ) fell 1.9%, boosting the July QCOM $56 puts recommended to Edge Pro subscribers to a 67% gain since added on Tuesday. Click to Enlarge Financials bucked the trend to gain 0.7% as a group thanks to net interest margin hopes. The Financial Select Sector SPDR Fund (NYSEARCA: XLF ) is on the verge of an upside breakout from a long seven-month consolidation pattern. It’ll be interesting to see how the market bulls reconcile tech weakness/bank strength since both are heavily weighed sectors in the major averages. Also helping the banks was the announcement of capital return plans last night following the passage of Federal Reserve “stress test” capital tests. Citigroup Inc (NYSE: C ) gained 2.8% on a larger-than-expected 100% dividend increase and a $15.6 billion buyback plan. Story continues In other corporate news, Staples, Inc. (NASDAQ: SPLS ) gained 1.5% after agreeing to be acquired by Sycamore Partners for $10.25 per share in cash or nearly $7 billion. Groupon Inc (NASDAQ: GRPN ) gained 4.3% on an upgrade from analysts at B Riley. And Lululemon Athletica Inc. (NASDAQ: LULU ) gained 5.2% after its chairman purchased $5.5 million worth of shares. Rite Aid Corporation (NYSE: RAD ) collapsed 26.5% after the company and Walgreens Boots Alliance Inc (NASDAQ: WBA ) terminated their merger agreement due to regulator opposition. WBA will still acquire nearly 2,200 stores for $5.2 billion in cash. The company also announced Q1 earnings well below estimates on a 3.9% decline in same-store sales. Conclusion Click to Enlarge The single biggest dynamic in play right now is the weakness hitting Treasury bonds as shown above. This is being driven by hawkish commentary from Federal Reserve officials lately, who have echoed each other on worries about elevated asset price valuations (stocks too expensive), leverage (too much credit overhang), reach-for-yield behavior (sentiment too hot), and the fact that credit conditions have loosened since they started tightening policy in December 2015 (based largely on the fact stock prices are up some 20% since then. Click to Enlarge Source: OptionsAnalytix There is a technical element to the action as well amid a reversal of some recent trends: Crude oil is up six days in a row, which is boosting inflation expectations, lifting long-term yields (thus weakening bonds), and weakening the dollar (down five of the last seven days). This is the best opportunity the bears have had in months to pile on: The Nasdaq 100 closed back below its 50-day moving average, a level that hasn’t been traded below in a major way since early December. Buy Tesla Inc (TSLA)? Try This Undervalued Auto Stock Instead. That’s great news for the ProShares UltraShort QQQ (ETF) (NYSEARCA: QID ). Check out Serge Berger’s Trade of the Day for June 30. Today’s Trading Landscape To see a list of the companies reporting earnings today, click here . For a list of this week’s economic reports due out, click here . Tell us what you think about this article! Drop us an email at [email protected] , chat with us on Twitter at @InvestorPlace or comment on the post on Facebook . Read more about our comments policy here . Anthony Mirhaydari is founder of the Edge (ETFs) and Edge Pro (Options) investment advisory newsletters. A two-week and four-week free trial offer has been extended to Investorplace readers. More From InvestorPlace 7 ETFs That Can Make You Love Retirement 3 Stocks to Buy to Leverage the Bitcoin Craze 3 Great Fidelity Funds That AREN'T Magellan The post The Bears are Waiting for Their Chance in the Nasdaq appeared first on InvestorPlace . \|\| Blue Apron Holdings, Inc. (APRN) Goes Stale Right Out of the Box: InvestorPlace - Stock Market News, Stock Advice & Trading Tips When Blue Apron Holdings, Inc. (NYSE: APRN ) filed its initial public offering, there was quite a bit of excitement. Investors would get a chance to participate in the new-fangled online delivery industry. But that optimism has fallen flat after some interesting developments in the grocery space. On Wednesday, the Blue Apron IPO got priced at $10 a share — which was at a steep discount to the original price range of $15 to $17. The lead underwriters on the deal included Goldman Sachs Group Inc (NYSE: GS ), Morgan Stanley (NYSE: MS ), Citigroup Inc (NYSE: C ) and Barclays PLC (ADR) (NYSE: BCS ). Unfortunately, even with the price cut, there is still not too much enthusiasm for the Blue Apron IPO. As of this writing, APRN stock is only up roughly 6%. 3 Stocks to Buy to Leverage the Bitcoin Craze So what’s going on here? A Blue Apron Primer Well, to see, let’s first get a backgrounder on the company. Founded in 2012, Blue Apron saw a big opportunity to deliver food kits to consumers. These kits included recipes as well as pre-portioned ingredients. All in all, the goal was to help people eat healthier offerings, but without the drudgery of menu planning and grocery shopping. From the start, Blue Apron was a hit. From 2014 to 2016, revenues spiked from $77.8 million to $795.4 million . In all, the company has delivered over 159 million meals across the U.S. Over time, Blue Apron has certainly bolstered its offerings. Just some include Blue Apron Wine, which is a direct-to-consumer wine delivery service, and also the Blue Apron Market, which is an e-commerce marketplace of curated cooking tools and pantry items. Another key part of the company is the logistics platform. Blue Apron has built a network of over 300 different supplier relationships that have exclusive arrangements. There is also custom-built fulfillment centers that effectively manage perishable inventory. Story continues And what about the business model? Note that Blue Apron has several plans, which range from $60 to $72 per week (this depends on the number of people in a family). Blue Apron IPO Pros & Cons Now the market opportunity for Blue Apron is certainly enormous. According to Euromonitor, the U.S. grocery sector generated $781.5 billion in revenues last year — and the foreign market is eight times this amount. As for the online market, it is relatively small, at about $9.7 billion. Yet, growth is expected to average at about 8.5% until 2020. By comparison, the traditional grocery market is forecasted to grow at only a 1.3% clip. Despite all this, Blue Apron definitely faces some tough challenges. Perhaps one of the most threatening is the churn of the customer base. Based on the number crunching of Emory University professor Daniel McCarthy, it could be as much as 60% . This means that Blue Apron will need to continue boosting its marketing spend, which is already at a hefty 25% of revenues. Besides, the heavy churn really casts doubt on the value proposition of the company. Do people really want this kind of service? Or, even if they do, does it have the right pricing or products? It’s tough to say. But after being in business for about five years, it seems that Blue Apron should have a better handle on such things. Even worse, the competitive landscape is likely to get even more intense. Amazon.com, Inc.’s (NASDAQ: AMZN ) proposed acquisition of Whole Foods Market, Inc. (NASDAQ: WFM ) has sent shockwaves across the grocery sector. For the most part, AMZN will be able to leverage a standout delivery service, which is backed by the ubiquitous Prime service. But at the same time, the traditional grocers like Kroger Co (NYSE: KR ) will likely get much more aggressive with their own digital efforts. Kroger Co (KR) Stock Oozes Value Thanks to Amazon.com, Inc. (AMZN) In light of all this, it should be no surprise that APRN has pulled off a lackluster offering. Unfortunately, Blue Apron could have even more difficulties sustaining its valuation as the pressures in the grocery sector continue to mount. Tom Taulli runs the InvestorPlace blog IPO Playbook and is the author of various books, including All About Commodities , All About Short Selling and High-Profit IPO Strategies . Follow him on Twitter at @ttaulli . As of this writing, he did not hold a position in any of the aforementioned securities. More From InvestorPlace The 10 Best Vanguard Funds for Retirement There's No Good Reason to Buy Snap Inc (SNAP) Stock 3 Stocks to Buy for Millennial Investors The post Blue Apron Holdings, Inc. (APRN) Goes Stale Right Out of the Box appeared first on InvestorPlace . [Social Media Buzz] 2496.00$ for #bitcoin this morning \|\| 2017-07-03 12:00 1 BTC son: 14.338.891Gs. #btc #gs #pyg #bitcoin #paraguay #guaranies \|\| Gana $45,00 Usd Por Afiliar, Quieres ganarte dólares con Bitcoin sin tanto esfuerzo? Es solo dedicar un ···- https://goo.gl/Cdo6SQ - # \|\| #DolarTrue BTC 03/07/2017 10:04 AM BTC Venta Panama : 2453.9 BTC USA : 2561.00 BTC Compra VEF : 20,054,589 USD/VEF : 7998 \|\| #bitcoin #miner USED - Antminer S7 4.73Th/s - FREE SHIPPING $450.00 http://ift.tt/2uDge5I pic.twitter.com/ZY...	2601.64, 2601.99, 2608.56, 2518.66, 2571.34, 2518.44, 2372.56, 2337.79, 2398.84, 2357.90
Given the historical Bitcoin prices from the last 90 days, predict the next 10 daily closing prices. The historical prices are: 13075.25, 13654.22, 13271.29, 13437.88, 13546.52, 13781.00, 13737.11, 13550.49, 13950.30, 14133.71, 15579.85, 15565.88, 14833.75, 15479.57, 15332.32, 15290.90, 15701.34, 16276.34, 16317.81, 16068.14, 15955.59, 16716.11, 17645.41, 17804.01, 17817.09, 18621.31, 18642.23, 18370.00, 18364.12, 19107.46, 18732.12, 17150.62, 17108.40, 17717.41, 18177.48, 19625.84, 18803.00, 19201.09, 19445.40, 18699.77, 19154.23, 19345.12, 19191.63, 18321.14, 18553.92, 18264.99, 18058.90, 18803.66, 19142.38, 19246.64, 19417.08, 21310.60, 22805.16, 23137.96, 23869.83, 23477.29, 22803.08, 23783.03, 23241.35, 23735.95, 24664.79, 26437.04, 26272.29, 27084.81, 27362.44, 28840.95, 29001.72, 29374.15, 32127.27, 32782.02, 31971.91, 33992.43, 36824.36, 39371.04, 40797.61, 40254.55, 38356.44, 35566.66, 33922.96, 37316.36, 39187.33, 36825.37, 36178.14, 35791.28, 36630.07, 36069.80, 35547.75, 30825.70, 33005.76, 32067.64.	[Bitcoin Technical Analysis for 2021-01-23] Volume: 48354737975, RSI (14-day): 47.39, 50-day EMA: 29628.57, 200-day EMA: 19036.36 [Wider Market Context] None available. [Recent News (last 7 days)] Bitcoin Core Lead Maintainer Steps Back, Encourages Decentralization: Bitcoin Core lead maintainer Wladimir van der Laan has decided to take “even more” of a “background role” for the sake of further decentralizing the project, according to a newblog post. Bitcoin Core is the key software underpinning the Bitcoin network. While van der Laan’s work is mostly “janitorial” in nature, making sure the project’s code proceeds smoothly, some in the community view him as a leader of sorts. As van der Laan puts it, he’s become a sort of “centralized bottleneck.” His announcement comes after finding himself in the midst ofcontroversyon Thursday. Some Bitcoin users didn’t like hisdecisionto pull the white paper from bitcoincore.org, following legal threats from Craig Wright. But van der Laan maintains this decision to pull back from Core is one he’s been thinking about for a while. Related:First Mover: Bitcoin Flushes 'Weak Hands' as Ethereum Hits New All-Time High “I will start by delegating my own tasks, and decreasing my involvement. I do not intend to stop contributing to Bitcoin, or even to the Bitcoin Core project, but I would like to remove myself from the critical path and take (even more) of a background role,” he wrote. He thinks this move will help to decentralize the project, a digital currency that is supposed to not have any leaders. “One thing is clear: This is a serious project now, and we need to start taking decentralization seriously,” van der Laan wrote. His decision is a part of a much larger effort to further decentralize the project. For instance, 2020 saw a wave of Bitcoin companies doling out grants to developers working on the underlying protocol full-time. ExchangeOKCoin, for instance, is funding Marco Falke, who is the most active maintainer behind van der Laan in terms of commits – code changes that have been successfully added to the project. Popular exchangeCoinbaseis now supporting two developers as well, after receiving many requests to do so from the community. Several other companies have joined them in doling out grants over the last year. Related:Crypto Long & Short: No, Bitcoin Was Not a Response to the Financial Crisis Bitcoin Core contributor John Newberylaunchednon-profit Brink for mentoring and funding more developers as well, in an effort to get even more contributors involved, particularly from diverse backgrounds. Indeed, van der Laan notes in his post that he’s no longer the most active Bitcoin Core maintainer, as several others have joined ranks over the years. Plus, he outlines other ideas for decentralizing the project. For instance, Bitcoincore.org is one of the major websites where users can download new versions of the Bitcoin Core code. But it is privately owned and centralized. He suggests moving it to an organization. “Bitcoin is quite different in some of the requirements here from other [free and open-source software] projects, so we’ll have to develop some tools as we go,” van der Laan wrote. “We could also, definitely, use some help here.” He has asked other developers to step up to take his place as the leader of the weekly Bitcoin Core development meeting, where developers discuss pressing next steps. • Bitcoin Core Lead Maintainer Steps Back, Encourages Decentralization • Bitcoin Core Lead Maintainer Steps Back, Encourages Decentralization \|\| Bitcoin Core Lead Maintainer Steps Back, Encourages Decentralization: Bitcoin Core lead maintainer Wladimir van der Laan has decided to take even more of a background role for the sake of further decentralizing the project, according to a new blog post . Bitcoin Core is the key software underpinning the Bitcoin network. While van der Laans work is mostly janitorial in nature, making sure the projects code proceeds smoothly, some in the community view him as a leader of sorts. As van der Laan puts it, hes become a sort of centralized bottleneck. His announcement comes after finding himself in the midst of controversy on Thursday. Some Bitcoin users didnt like his decision to pull the white paper from bitcoincore.org, following legal threats from Craig Wright. But van der Laan maintains this decision to pull back from Core is one hes been thinking about for a while. Related: First Mover: Bitcoin Flushes 'Weak Hands' as Ethereum Hits New All-Time High I will start by delegating my own tasks, and decreasing my involvement. I do not intend to stop contributing to Bitcoin, or even to the Bitcoin Core project, but I would like to remove myself from the critical path and take (even more) of a background role, he wrote. Decentralizing Bitcoin Core development He thinks this move will help to decentralize the project, a digital currency that is supposed to not have any leaders. One thing is clear: This is a serious project now, and we need to start taking decentralization seriously, van der Laan wrote. His decision is a part of a much larger effort to further decentralize the project. For instance, 2020 saw a wave of Bitcoin companies doling out grants to developers working on the underlying protocol full-time. Exchange OKCoin , for instance, is funding Marco Falke, who is the most active maintainer behind van der Laan in terms of commits code changes that have been successfully added to the project. Popular exchange Coinbase is now supporting two developers as well, after receiving many requests to do so from the community. Several other companies have joined them in doling out grants over the last year. Story continues Related: Crypto Long & Short: No, Bitcoin Was Not a Response to the Financial Crisis Bitcoin Core contributor John Newbery launched non-profit Brink for mentoring and funding more developers as well, in an effort to get even more contributors involved, particularly from diverse backgrounds. Indeed, van der Laan notes in his post that hes no longer the most active Bitcoin Core maintainer, as several others have joined ranks over the years. Plus, he outlines other ideas for decentralizing the project. For instance, Bitcoincore.org is one of the major websites where users can download new versions of the Bitcoin Core code. But it is privately owned and centralized. He suggests moving it to an organization. Bitcoin is quite different in some of the requirements here from other [free and open-source software] projects, so well have to develop some tools as we go, van der Laan wrote. We could also, definitely, use some help here. He has asked other developers to step up to take his place as the leader of the weekly Bitcoin Core development meeting, where developers discuss pressing next steps. Related Stories Bitcoin Core Lead Maintainer Steps Back, Encourages Decentralization Bitcoin Core Lead Maintainer Steps Back, Encourages Decentralization \|\| Bitcoin Core Lead Maintainer Steps Back, Encourages Decentralization: Bitcoin Core lead maintainer Wladimir van der Laan has decided to take “even more” of a “background role” for the sake of further decentralizing the project, according to a newblog post. Bitcoin Core is the key software underpinning the Bitcoin network. While van der Laan’s work is mostly “janitorial” in nature, making sure the project’s code proceeds smoothly, some in the community view him as a leader of sorts. As van der Laan puts it, he’s become a sort of “centralized bottleneck.” His announcement comes after finding himself in the midst ofcontroversyon Thursday. Some Bitcoin users didn’t like hisdecisionto pull the white paper from bitcoincore.org, following legal threats from Craig Wright. But van der Laan maintains this decision to pull back from Core is one he’s been thinking about for a while. Related:First Mover: Bitcoin Flushes 'Weak Hands' as Ethereum Hits New All-Time High “I will start by delegating my own tasks, and decreasing my involvement. I do not intend to stop contributing to Bitcoin, or even to the Bitcoin Core project, but I would like to remove myself from the critical path and take (even more) of a background role,” he wrote. He thinks this move will help to decentralize the project, a digital currency that is supposed to not have any leaders. “One thing is clear: This is a serious project now, and we need to start taking decentralization seriously,” van der Laan wrote. His decision is a part of a much larger effort to further decentralize the project. For instance, 2020 saw a wave of Bitcoin companies doling out grants to developers working on the underlying protocol full-time. ExchangeOKCoin, for instance, is funding Marco Falke, who is the most active maintainer behind van der Laan in terms of commits – code changes that have been successfully added to the project. Popular exchangeCoinbaseis now supporting two developers as well, after receiving many requests to do so from the community. Several other companies have joined them in doling out grants over the last year. Related:Crypto Long & Short: No, Bitcoin Was Not a Response to the Financial Crisis Bitcoin Core contributor John Newberylaunchednon-profit Brink for mentoring and funding more developers as well, in an effort to get even more contributors involved, particularly from diverse backgrounds. Indeed, van der Laan notes in his post that he’s no longer the most active Bitcoin Core maintainer, as several others have joined ranks over the years. Plus, he outlines other ideas for decentralizing the project. For instance, Bitcoincore.org is one of the major websites where users can download new versions of the Bitcoin Core code. But it is privately owned and centralized. He suggests moving it to an organization. “Bitcoin is quite different in some of the requirements here from other [free and open-source software] projects, so we’ll have to develop some tools as we go,” van der Laan wrote. “We could also, definitely, use some help here.” He has asked other developers to step up to take his place as the leader of the weekly Bitcoin Core development meeting, where developers discuss pressing next steps. • Bitcoin Core Lead Maintainer Steps Back, Encourages Decentralization • Bitcoin Core Lead Maintainer Steps Back, Encourages Decentralization \|\| Bitcoin Developers Weigh the Costs of Defying White Paper Copyright Claim: The Bitcoin community is debating the extent to which Bitcoin Core developers and maintainers should shoulder the symbolic burden of hosting its white paper, particularly when doing so could unnecessarily sap their time and finances. The question arose after the Bitcoin white paper was taken down from Bitcoincore.org, a canonical repository for the Bitcoin software and educational resources like Satoshi’s 10-page thesis, following legal threats of copyright infringement from nChain Chief Scientist Craig Wright. Wright, who has made a career of his claim that he is Satoshi Nakamoto, also helped to spawn the Bitcoin fork Bitcoin Satoshi’s Vision (BSV). Related:First Mover: Bitcoin Flushes 'Weak Hands' as Ethereum Hits New All-Time High The Bitcoin white paper, titled “Bitcoin: A Peer-to-Peer Electronic Cash System,” was published by Satoshi Nakamoto under anMIT public licensein 2008 and is distributed widely in many forms around the world. Wright has filed a copyright claim and that claim has been processed, but it is still open to challenge. But whether his legal pressure has merit is not the issue: Wright is no stranger to lawsuits and has eagerly sued prominent Bitcoiners, like British podcast Peter McCormack, for challenging his claim as the inventor of Bitcoin. The issue is whether it would be best to entertain another of Wright’s enervating (but expensive) lawsuits with a show of strength, or if sidestepping the problem entirely by removing the white paper – which exists in numerous corners of the web anyway – would be a wiser path for Bitcoincore.org to follow. While Bitcoincore.org’s maintainers have scuttled the white paper from the site, Bitcoin.org, the other website in the lawsuit’s sights, has yet to remove the white paper. Related:Crypto Long & Short: No, Bitcoin Was Not a Response to the Financial Crisis As to the matter of practicality vs. principal, as ever, Bitcoin’s open-source community is at odds with itself. Prolific Bitcoin contributor Gregory Maxwell, for instance, is in the camp that argues hosting the white paper on the Bitcoin Core website carries unneeded legal and financial risk for the Bitcoin Core developers who maintain the site. “It’s not currently needed there: The bitcoin white paper is already all over the place, it is on dozens of sites, it is in the Bitcoin blockchain and with publicity about this nonsense it’s going to get published in 1,000 more places.” The fuss is over a digital paper, Maxwell points out, not even the Bitcoin code itself, which will chug on, entirely unaffected by the brouhaha. “Wright might be able to abuse the legal system to take a copy down, or even to take down bitcoincore.org entirely (maybe even bitcoin.org entirely). And what effect would that have on Bitcoin?NONE. No effect at all. What effect would it have on the availability of the whitepaper? If anything it would make itmoreavailable. But even if he managed to get the whitepaper taken offevery site– a total impossibility – what would that do to Bitcoin? Still nothing.” He adds that instead of distracting Bitcoin engineers with years of hearings and lawsuits costing millions of dollars, it would be better to allow them the freedom to continue their important workmaintaining Bitcoin. He cites McCormack’s and other cases as evidence that Wright has plenty of money to throw at court hearings that go nowhere (and he’s even failed to pay legally mandated restitution after losing these fights, Maxwell says in the post). Responding to Maxwell’s post, Cobra, a pseudonymous developer who maintains the Bitcoin.org website, disagrees with Maxwell’s conclusion that “this isn’t the right battle.” Where Maxwell thinks it would show weakness to engage with Wright, Cobra believes submitting to the demand is weakness as well. “With respect to Greg, I think the Bitcoin Core project submitting to unreasonable demands that lack merit is a bad thing, and doesn’t inspire confidence in the robustness of the project to social and legal attacks” Cobra told CoinDesk over direct message. Cobra told CoinDesk the developers are willing to go to court to combat Wright’s “nonsense” allegations if necessary. Other Bitcoiners, in response to a post by Bitcoin Core lead maintainer Wladimir van der Laan (@orionwl), were more sympathetic. “Y’all made the right decision,” Pierre Rochard, Nakamoto Institute co-founder and Bitcoin Strategist at Kraken, responded. “Thank you for your excellent stewardship of the project.” Still, some suggested that van der Laan and other Bitcoin Core developers who would rather avoid legal conflict should pass the Bitcoincore.org domain on to someone who is willing to bear the litigious brunt of a potential lawsuit. In a blog post yesterday, Bitcoin Core’s lead maintainer made it clear that, in his view, this goes further than the debate over taking down the white paper that, in itself, is likely to be a battle that will need broader support that one person could handle alone. Indeed, he had already begun considering “decreasing [his] involvement” in the open source project prior to this week’s events. The “responses on social media” to Bitcoincore.org’s delisting the white paper he writes in the post “have made me realize that people have strange expectations from me, and what my role in the Bitcoin Core project is.” Van der Laan will be stepping down as chair of Bitcoin Core’s weekly meetings. For the rest of the post, he proposes ways to further decentralize Bitcoin’s development and software distribution. “Some arrangements that were acceptable for a small scale FOSS project are no longer so for one running a 600 billion dollar system. Market cap is famously deceptive, but my point is not about specific numbers here,” he writes. “This is a serious project now, and we need to start taking decentralization seriously.” • Bitcoin Developers Weigh the Costs of Defying White Paper Copyright Claim • Bitcoin Developers Weigh the Costs of Defying White Paper Copyright Claim \|\| Bitcoin Developers Weigh the Costs of Defying White Paper Copyright Claim: The Bitcoin community is debating the extent to which Bitcoin Core developers and maintainers should shoulder the symbolic burden of hosting its white paper, particularly when doing so could unnecessarily sap their time and finances. The question arose after the Bitcoin white paper was taken down from Bitcoincore.org, a canonical repository for the Bitcoin software and educational resources like Satoshi’s 10-page thesis, following legal threats of copyright infringement from nChain Chief Scientist Craig Wright. Wright, who has made a career of his claim that he is Satoshi Nakamoto, also helped to spawn the Bitcoin fork Bitcoin Satoshi’s Vision (BSV). Related:First Mover: Bitcoin Flushes 'Weak Hands' as Ethereum Hits New All-Time High The Bitcoin white paper, titled “Bitcoin: A Peer-to-Peer Electronic Cash System,” was published by Satoshi Nakamoto under anMIT public licensein 2008 and is distributed widely in many forms around the world. Wright has filed a copyright claim and that claim has been processed, but it is still open to challenge. But whether his legal pressure has merit is not the issue: Wright is no stranger to lawsuits and has eagerly sued prominent Bitcoiners, like British podcast Peter McCormack, for challenging his claim as the inventor of Bitcoin. The issue is whether it would be best to entertain another of Wright’s enervating (but expensive) lawsuits with a show of strength, or if sidestepping the problem entirely by removing the white paper – which exists in numerous corners of the web anyway – would be a wiser path for Bitcoincore.org to follow. While Bitcoincore.org’s maintainers have scuttled the white paper from the site, Bitcoin.org, the other website in the lawsuit’s sights, has yet to remove the white paper. Related:Crypto Long & Short: No, Bitcoin Was Not a Response to the Financial Crisis As to the matter of practicality vs. principal, as ever, Bitcoin’s open-source community is at odds with itself. Prolific Bitcoin contributor Gregory Maxwell, for instance, is in the camp that argues hosting the white paper on the Bitcoin Core website carries unneeded legal and financial risk for the Bitcoin Core developers who maintain the site. “It’s not currently needed there: The bitcoin white paper is already all over the place, it is on dozens of sites, it is in the Bitcoin blockchain and with publicity about this nonsense it’s going to get published in 1,000 more places.” The fuss is over a digital paper, Maxwell points out, not even the Bitcoin code itself, which will chug on, entirely unaffected by the brouhaha. “Wright might be able to abuse the legal system to take a copy down, or even to take down bitcoincore.org entirely (maybe even bitcoin.org entirely). And what effect would that have on Bitcoin?NONE. No effect at all. What effect would it have on the availability of the whitepaper? If anything it would make itmoreavailable. But even if he managed to get the whitepaper taken offevery site– a total impossibility – what would that do to Bitcoin? Still nothing.” He adds that instead of distracting Bitcoin engineers with years of hearings and lawsuits costing millions of dollars, it would be better to allow them the freedom to continue their important workmaintaining Bitcoin. He cites McCormack’s and other cases as evidence that Wright has plenty of money to throw at court hearings that go nowhere (and he’s even failed to pay legally mandated restitution after losing these fights, Maxwell says in the post). Responding to Maxwell’s post, Cobra, a pseudonymous developer who maintains the Bitcoin.org website, disagrees with Maxwell’s conclusion that “this isn’t the right battle.” Where Maxwell thinks it would show weakness to engage with Wright, Cobra believes submitting to the demand is weakness as well. “With respect to Greg, I think the Bitcoin Core project submitting to unreasonable demands that lack merit is a bad thing, and doesn’t inspire confidence in the robustness of the project to social and legal attacks” Cobra told CoinDesk over direct message. Cobra told CoinDesk the developers are willing to go to court to combat Wright’s “nonsense” allegations if necessary. Other Bitcoiners, in response to a post by Bitcoin Core lead maintainer Wladimir van der Laan (@orionwl), were more sympathetic. “Y’all made the right decision,” Pierre Rochard, Nakamoto Institute co-founder and Bitcoin Strategist at Kraken, responded. “Thank you for your excellent stewardship of the project.” Still, some suggested that van der Laan and other Bitcoin Core developers who would rather avoid legal conflict should pass the Bitcoincore.org domain on to someone who is willing to bear the litigious brunt of a potential lawsuit. In a blog post yesterday, Bitcoin Core’s lead maintainer made it clear that, in his view, this goes further than the debate over taking down the white paper that, in itself, is likely to be a battle that will need broader support that one person could handle alone. Indeed, he had already begun considering “decreasing [his] involvement” in the open source project prior to this week’s events. The “responses on social media” to Bitcoincore.org’s delisting the white paper he writes in the post “have made me realize that people have strange expectations from me, and what my role in the Bitcoin Core project is.” Van der Laan will be stepping down as chair of Bitcoin Core’s weekly meetings. For the rest of the post, he proposes ways to further decentralize Bitcoin’s development and software distribution. “Some arrangements that were acceptable for a small scale FOSS project are no longer so for one running a 600 billion dollar system. Market cap is famously deceptive, but my point is not about specific numbers here,” he writes. “This is a serious project now, and we need to start taking decentralization seriously.” • Bitcoin Developers Weigh the Costs of Defying White Paper Copyright Claim • Bitcoin Developers Weigh the Costs of Defying White Paper Copyright Claim \|\| Bitcoin Developers Weigh the Costs of Defying White Paper Copyright Claim: The Bitcoin community is debating the extent to which Bitcoin Core developers and maintainers should shoulder the symbolic burden of hosting its white paper, particularly when doing so could unnecessarily sap their time and finances. The question arose after the Bitcoin white paper was taken down from Bitcoincore.org, a canonical repository for the Bitcoin software and educational resources like Satoshis 10-page thesis, following legal threats of copyright infringement from nChain Chief Scientist Craig Wright. Wright, who has made a career of his claim that he is Satoshi Nakamoto, also helped to spawn the Bitcoin fork Bitcoin Satoshis Vision (BSV). Related: First Mover: Bitcoin Flushes 'Weak Hands' as Ethereum Hits New All-Time High The Bitcoin white paper, titled Bitcoin: A Peer-to-Peer Electronic Cash System , was published by Satoshi Nakamoto under an MIT public license in 2008 and is distributed widely in many forms around the world. Wright has filed a copyright claim and that claim has been processed, but it is still open to challenge. But whether his legal pressure has merit is not the issue: Wright is no stranger to lawsuits and has eagerly sued prominent Bitcoiners, like British podcast Peter McCormack, for challenging his claim as the inventor of Bitcoin. The issue is whether it would be best to entertain another of Wrights enervating (but expensive) lawsuits with a show of strength, or if sidestepping the problem entirely by removing the white paper which exists in numerous corners of the web anyway would be a wiser path for Bitcoincore.org to follow. While Bitcoincore.orgs maintainers have scuttled the white paper from the site, Bitcoin.org, the other website in the lawsuits sights, has yet to remove the white paper. Related: Crypto Long & Short: No, Bitcoin Was Not a Response to the Financial Crisis As to the matter of practicality vs. principal, as ever, Bitcoins open-source community is at odds with itself. Story continues No harm, no foul Prolific Bitcoin contributor Gregory Maxwell, for instance, is in the camp that argues hosting the white paper on the Bitcoin Core website carries unneeded legal and financial risk for the Bitcoin Core developers who maintain the site. Its not currently needed there: The bitcoin white paper is already all over the place, it is on dozens of sites, it is in the Bitcoin blockchain and with publicity about this nonsense its going to get published in 1,000 more places. The fuss is over a digital paper, Maxwell points out, not even the Bitcoin code itself, which will chug on, entirely unaffected by the brouhaha. Wright might be able to abuse the legal system to take a copy down, or even to take down bitcoincore.org entirely (maybe even bitcoin.org entirely). And what effect would that have on Bitcoin? NONE . No effect at all. What effect would it have on the availability of the whitepaper? If anything it would make it more available. But even if he managed to get the whitepaper taken off every site a total impossibility what would that do to Bitcoin? Still nothing. Greg Maxwell He adds that instead of distracting Bitcoin engineers with years of hearings and lawsuits costing millions of dollars, it would be better to allow them the freedom to continue their important work maintaining Bitcoin . He cites McCormacks and other cases as evidence that Wright has plenty of money to throw at court hearings that go nowhere (and hes even failed to pay legally mandated restitution after losing these fights, Maxwell says in the post). A matter of principle and pride Responding to Maxwells post, Cobra, a pseudonymous developer who maintains the Bitcoin.org website, disagrees with Maxwells conclusion that this isnt the right battle. Where Maxwell thinks it would show weakness to engage with Wright, Cobra believes submitting to the demand is weakness as well. With respect to Greg, I think the Bitcoin Core project submitting to unreasonable demands that lack merit is a bad thing, and doesnt inspire confidence in the robustness of the project to social and legal attacks Cobra told CoinDesk over direct message. Cobra told CoinDesk the developers are willing to go to court to combat Wrights nonsense allegations if necessary. Cant sue em all Other Bitcoiners, in response to a post by Bitcoin Core lead maintainer Wladimir van der Laan (@orionwl), were more sympathetic. Yall made the right decision, Pierre Rochard, Nakamoto Institute co-founder and Bitcoin Strategist at Kraken, responded. Thank you for your excellent stewardship of the project. Decentralizing Bitcoin Core Still, some suggested that van der Laan and other Bitcoin Core developers who would rather avoid legal conflict should pass the Bitcoincore.org domain on to someone who is willing to bear the litigious brunt of a potential lawsuit. In a blog post yesterday, Bitcoin Cores lead maintainer made it clear that, in his view, this goes further than the debate over taking down the white paper that, in itself, is likely to be a battle that will need broader support that one person could handle alone. Indeed, he had already begun considering decreasing [his] involvement in the open source project prior to this weeks events. The responses on social media to Bitcoincore.orgs delisting the white paper he writes in the post have made me realize that people have strange expectations from me, and what my role in the Bitcoin Core project is. Van der Laan will be stepping down as chair of Bitcoin Cores weekly meetings. For the rest of the post, he proposes ways to further decentralize Bitcoins development and software distribution. Some arrangements that were acceptable for a small scale FOSS project are no longer so for one running a 600 billion dollar system. Market cap is famously deceptive, but my point is not about specific numbers here, he writes. This is a serious project now, and we need to start taking decentralization seriously. Related Stories Bitcoin Developers Weigh the Costs of Defying White Paper Copyright Claim Bitcoin Developers Weigh the Costs of Defying White Paper Copyright Claim \|\| Stock Market Today: Nasdaq Scratches Out Another Record Finish: A muted Friday for the broader stock market was much more interesting under the microscope. The market received some good news in the form of readings from IHS Markit showing a decade-high level of manufacturing activity and expansion of services activity. That news was blunted by the nation's top infectious diseases expert, Dr. Anthony Fauci, who highlighted data showing that current COVID vaccines might not be as effective in curbing some mutated strains. SEE MORE The 13 Best REITs to Own in 2021 The Nasdaq Composite finished a modest 0.1% higher, good enough for a record close at 13,543. The Dow was clipped by 0.6% to 30,996, driven lower by International Business Machines ( IBM , -9.9%), which reported disappointing quarterly revenues, and Intel ( INTC , -9.3%), which popped yesterday after accidentally releasing its earnings before the closing bell, but yielded ground today. Capturing much of Wall Street's attention, however, was GameStop ( GME , +50.5%), which has rallied a wild 2,419% since April thanks to a mix of strong earnings, a transformative investor stake and the unraveling of bets against the stock. That helped the small-cap Russell 2000 violently rebound, with a 1.3% gain to a record 2,168. Other action in the stock market today: The S&P 500 slipped 0.3% to 3,841. Gold futures dropped 0.6% to $1,855.70 per ounce. U.S. crude oil futures settled at $52.42 per barrel, a 1.3% decline. Bitcoin prices, at $31,902 on Thursday, rebounded 5.3% to $33,606. (Bitcoin trades 24 hours a day; prices reported here are as of 4 p.m. each trading day.) stock chart for 012221 SEE MORE The 2021 Outlook for Bitcoin Prices, Adoption and Risks The Pros' Picks for 2021 The view from 10,000 feet is awfully different from the view on the ground. The analyst community's broad-stroke convictions about what will work in 2021 are fairly uniform. Value stocks will finally have their day in the sun, they say, even if COVID lingers longer than hoped. Value-priced sectors, then, are also the rage: Financial stocks should win out, goes the logic. So too should oil and gas names . Story continues But when you zoom in to the single-stock level, you'll find that many of the pros' favorite stocks for the year aren't all found in those favored niches. We've highlighted 21 stock picks that stand out because of their high concentration of recent bullish 12-month calls, and our list is a mishmash of just about everything the market has to offer – large-cap health insurers, mid-cap tech plays, tiny health innovators and everything in between. Check them out! Kyle Woodley was long Bitcoin as of this writing. SEE MORE The 21 Best Stocks to Buy for 2021 \|\| Stock Market Today: Nasdaq Scratches Out Another Record Finish: A muted Friday for the broader stock market was much more interesting under the microscope. The market received some good news in the form of readings from IHS Markit showing a decade-high level of manufacturing activity and expansion of services activity. That news was blunted by the nation's top infectious diseases expert, Dr. Anthony Fauci, who highlighted data showing that current COVID vaccines might not be as effective in curbing some mutated strains. SEE MORE The 13 Best REITs to Own in 2021 The Nasdaq Composite finished a modest 0.1% higher, good enough for a record close at 13,543. The Dow was clipped by 0.6% to 30,996, driven lower by International Business Machines ( IBM , -9.9%), which reported disappointing quarterly revenues, and Intel ( INTC , -9.3%), which popped yesterday after accidentally releasing its earnings before the closing bell, but yielded ground today. Capturing much of Wall Street's attention, however, was GameStop ( GME , +50.5%), which has rallied a wild 2,419% since April thanks to a mix of strong earnings, a transformative investor stake and the unraveling of bets against the stock. That helped the small-cap Russell 2000 violently rebound, with a 1.3% gain to a record 2,168. Other action in the stock market today: The S&P 500 slipped 0.3% to 3,841. Gold futures dropped 0.6% to $1,855.70 per ounce. U.S. crude oil futures settled at $52.42 per barrel, a 1.3% decline. Bitcoin prices, at $31,902 on Thursday, rebounded 5.3% to $33,606. (Bitcoin trades 24 hours a day; prices reported here are as of 4 p.m. each trading day.) stock chart for 012221 SEE MORE The 2021 Outlook for Bitcoin Prices, Adoption and Risks The Pros' Picks for 2021 The view from 10,000 feet is awfully different from the view on the ground. The analyst community's broad-stroke convictions about what will work in 2021 are fairly uniform. Value stocks will finally have their day in the sun, they say, even if COVID lingers longer than hoped. Value-priced sectors, then, are also the rage: Financial stocks should win out, goes the logic. So too should oil and gas names . Story continues But when you zoom in to the single-stock level, you'll find that many of the pros' favorite stocks for the year aren't all found in those favored niches. We've highlighted 21 stock picks that stand out because of their high concentration of recent bullish 12-month calls, and our list is a mishmash of just about everything the market has to offer – large-cap health insurers, mid-cap tech plays, tiny health innovators and everything in between. Check them out! Kyle Woodley was long Bitcoin as of this writing. SEE MORE The 21 Best Stocks to Buy for 2021 \|\| Market Wrap: Bitcoin Back Above $33K While Ether Up 65% in 2021: Crypto markets have reversed course across the board and are flashing green Friday. Bitcoin crossed over $32,000 and ether is rallying hard in 2021 so far. • Bitcoin(BTC) trading around $33,608 as of 21:00 UTC (4 p.m. ET). Gaining 5.3% over the previous 24 hours. • Bitcoin’s 24-hour range: $28,845-$33,873 (CoinDesk 20) • BTC above the 10-hour and the 50-hour moving averages on the hourly chart, a bullish signal for market technicians. Bitcoin’s price was on an uptrend Friday, a marked reversal from the past several days. The price per 1 BTC bottomed out at $28,845 around 01:00 UTC (8:00 p.m. ET Thursday) and since then the world’s oldest cryptocurrency has been on an upward run. It reached as high as $33,873, according to CoinDesk 20 data, an appreciation of over 17% in that time span. Price has since settled somewhat, at $33,608 as of press time. Read More:MicroStrategy Buys the Dip, Adds $10M to Bitcoin Treasury Related:First Mover: Bitcoin Flushes 'Weak Hands' as Ethereum Hits New All-Time High Guy Hirsch, U.S. managing director for multi-asset brokerage eToro, says one support level, where traders scoop up bitcoin to push the price back up, seems to have taken hold, leading to the reversal Friday. “There appears to be strong support around $30,000, as prices have rebounded to trade north of $32,000,” Hirsch told CoinDesk. This consolidation is likely the result of smart money continuing to buy bitcoin at a perceived discount. Quantitative trading firm QCP Capital echoed a similar sentiment about the $30,000 level in its most recent investor letter published Friday. “In the near term, we’re expecting a key battle at the $30,000 spot level. This battle for the $30,000 weekly close will be key.” In the derivatives market, bitcoin funding rates for swaps continue heading towards zero, particularly on venue FTX, which currently has the lowest rate, at 0.0318%. This signals leveraged demand to go long is dissipating. “We pay close attention to weekend price action and the leveraged [perpetual] funding rates to gauge retail interest,” QCP noted Friday. Related:Big Investors Stacked up Ether as Price Rose to Record High Read More:Bitcoin Exchange LVL Launches Mastercard Debit Card In the futures market, total open interest (OI) on the eight exchanges monitored by the CoinDesk 20 was at $11 billion Thursday, down from Tuesday’s record high of $13 billion. That is a sign institutional investors are losing interest and may be unwinding some of their positions. “After the BTC top two weeks ago, the strength in U.S. hours has lost momentum for the first time,” QCP also noted. “This is a clear sign of exhaustion in demand from the U.S. institutions and corporates [that] have been the primary drivers of this bull run.” Yet, macroeconomics may come into play, eToro’s Hirsch noted to CoinDesk. “With economic uncertainty continuing as the COVID-19 pandemic continues raging and central bank money printing continues unchecked, I’d expect more people to eventually rotate back into bitcoin in the not-too-distant future.” Ether(ETH), the second-largest cryptocurrency by market capitalization, was up Friday, trading around $1,253 and climbing 4% in 24 hours as of 21:00 UTC (4:00 p.m. ET). Read More:Mining Pools Threaten to Collude Against Contentious Ethereum Update While bitcoin has gained more than 15% thus far in 2021, ether is doing much better, up over 70% over the same time frame. “Ether appears to have finally broken its recent lockstep correlation with bitcoin, as evidenced by its more rapid recovery after a sell-off, which also appears to have been fueled by profit taking after the second-largest crypto asset hit an all-time high earlier this week,” noted eToro’s Guy Hirsch. Jake Brukhman, chief executive officer of crypto investment firm CoinFund, told CoinDesk investors are taking profits made from bitcoin and trading into ether and other assets given the 2021 price performance and high profile of bitcoin. “I think the major assets are going through a dynamic of high hitting, consolidation and rotation,” Brukhman said. “Bitcoin hits [a] high, then consolidates and the money flows into ether. Then ether hits a high, then consolidates and the money flows into polkadot.” Digital assets on theCoinDesk 20are mostly green Friday. Notable winners as of 21:00 UTC (4:00 p.m. ET): • tezos(XTZ) + 16.4% • chainlink(LINK) + 12.7% • algorand(ALGO) + 8.7% One notable loser: • ethereum classic(ETC) – 0.60% Equities: • Asia’s Nikkei 225 index ended the day in the red 0.44% astraders took profits ahead of corporate earnings reports that will arrive next week. • In Europe the FTSE 100 closed slipping 0.30% aseconomic data so far in January shows eurozone business activity is at a two-month low. • In the United States, the S&P 500 fell 0.30% asRepublicans began making statements that fresh government stimulus is not necessary. Commodities: • Oil was down 1.8%. Price per barrel of West Texas Intermediate crude: $52.05. • Gold was in the red 0.85% and at $1,853 as of press time. Treasurys: • The 10-year U.S. Treasury bond yield fell Friday to 1.084 and in the red 2.3%. • Market Wrap: Bitcoin Back Above $33K While Ether Up 65% in 2021 • Market Wrap: Bitcoin Back Above $33K While Ether Up 65% in 2021 \|\| Market Wrap: Bitcoin Back Above $33K While Ether Up 65% in 2021: Crypto markets have reversed course across the board and are flashing green Friday. Bitcoin crossed over $32,000 and ether is rallying hard in 2021 so far. Bitcoin (BTC) trading around $33,608 as of 21:00 UTC (4 p.m. ET). Gaining 5.3% over the previous 24 hours. Bitcoin’s 24-hour range: $28,845-$33,873 (CoinDesk 20) BTC above the 10-hour and the 50-hour moving averages on the hourly chart, a bullish signal for market technicians. Bitcoin’s price was on an uptrend Friday, a marked reversal from the past several days. The price per 1 BTC bottomed out at $28,845 around 01:00 UTC (8:00 p.m. ET Thursday) and since then the world’s oldest cryptocurrency has been on an upward run. It reached as high as $33,873, according to CoinDesk 20 data, an appreciation of over 17% in that time span. Price has since settled somewhat, at $33,608 as of press time. Read More: MicroStrategy Buys the Dip, Adds $10M to Bitcoin Treasury Related: First Mover: Bitcoin Flushes 'Weak Hands' as Ethereum Hits New All-Time High Guy Hirsch, U.S. managing director for multi-asset brokerage eToro, says one support level, where traders scoop up bitcoin to push the price back up, seems to have taken hold, leading to the reversal Friday. “There appears to be strong support around $30,000, as prices have rebounded to trade north of $32,000,” Hirsch told CoinDesk. This consolidation is likely the result of smart money continuing to buy bitcoin at a perceived discount. Quantitative trading firm QCP Capital echoed a similar sentiment about the $30,000 level in its most recent investor letter published Friday. “In the near term, we’re expecting a key battle at the $30,000 spot level. This battle for the $30,000 weekly close will be key.” In the derivatives market, bitcoin funding rates for swaps continue heading towards zero, particularly on venue FTX, which currently has the lowest rate, at 0.0318%. This signals leveraged demand to go long is dissipating. Story continues “We pay close attention to weekend price action and the leveraged [perpetual] funding rates to gauge retail interest,” QCP noted Friday. Related: Big Investors Stacked up Ether as Price Rose to Record High Read More: Bitcoin Exchange LVL Launches Mastercard Debit Card In the futures market, total open interest (OI) on the eight exchanges monitored by the CoinDesk 20 was at $11 billion Thursday, down from Tuesday’s record high of $13 billion. That is a sign institutional investors are losing interest and may be unwinding some of their positions. “After the BTC top two weeks ago, the strength in U.S. hours has lost momentum for the first time,” QCP also noted. “This is a clear sign of exhaustion in demand from the U.S. institutions and corporates [that] have been the primary drivers of this bull run.” Yet, macroeconomics may come into play, eToro’s Hirsch noted to CoinDesk. “With economic uncertainty continuing as the COVID-19 pandemic continues raging and central bank money printing continues unchecked, I’d expect more people to eventually rotate back into bitcoin in the not-too-distant future.” Ether blowing out bitcoin in 2021 Ether (ETH), the second-largest cryptocurrency by market capitalization, was up Friday, trading around $1,253 and climbing 4% in 24 hours as of 21:00 UTC (4:00 p.m. ET). Read More: Mining Pools Threaten to Collude Against Contentious Ethereum Update While bitcoin has gained more than 15% thus far in 2021, ether is doing much better, up over 70% over the same time frame. “Ether appears to have finally broken its recent lockstep correlation with bitcoin, as evidenced by its more rapid recovery after a sell-off, which also appears to have been fueled by profit taking after the second-largest crypto asset hit an all-time high earlier this week,” noted eToro’s Guy Hirsch. Jake Brukhman, chief executive officer of crypto investment firm CoinFund, told CoinDesk investors are taking profits made from bitcoin and trading into ether and other assets given the 2021 price performance and high profile of bitcoin. “I think the major assets are going through a dynamic of high hitting, consolidation and rotation,” Brukhman said. “Bitcoin hits [a] high, then consolidates and the money flows into ether. Then ether hits a high, then consolidates and the money flows into polkadot.” Other markets Digital assets on the CoinDesk 20 are mostly green Friday. Notable winners as of 21:00 UTC (4:00 p.m. ET): tezos (XTZ) + 16.4% chainlink (LINK) + 12.7% algorand (ALGO) + 8.7% One notable loser: ethereum classic (ETC) – 0.60% Equities: Asia’s Nikkei 225 index ended the day in the red 0.44% as traders took profits ahead of corporate earnings reports that will arrive next week . In Europe the FTSE 100 closed slipping 0.30% as economic data so far in January shows eurozone business activity is at a two-month low . In the United States, the S&P 500 fell 0.30% as Republicans began making statements that fresh government stimulus is not necessary . Commodities: Oil was down 1.8%. Price per barrel of West Texas Intermediate crude: $52.05. Gold was in the red 0.85% and at $1,853 as of press time. Treasurys: The 10-year U.S. Treasury bond yield fell Friday to 1.084 and in the red 2.3%. Related Stories Market Wrap: Bitcoin Back Above $33K While Ether Up 65% in 2021 Market Wrap: Bitcoin Back Above $33K While Ether Up 65% in 2021 \|\| Market Wrap: Bitcoin Back Above $33K While Ether Up 65% in 2021: Crypto markets have reversed course across the board and are flashing green Friday. Bitcoin crossed over $32,000 and ether is rallying hard in 2021 so far. • Bitcoin(BTC) trading around $33,608 as of 21:00 UTC (4 p.m. ET). Gaining 5.3% over the previous 24 hours. • Bitcoin’s 24-hour range: $28,845-$33,873 (CoinDesk 20) • BTC above the 10-hour and the 50-hour moving averages on the hourly chart, a bullish signal for market technicians. Bitcoin’s price was on an uptrend Friday, a marked reversal from the past several days. The price per 1 BTC bottomed out at $28,845 around 01:00 UTC (8:00 p.m. ET Thursday) and since then the world’s oldest cryptocurrency has been on an upward run. It reached as high as $33,873, according to CoinDesk 20 data, an appreciation of over 17% in that time span. Price has since settled somewhat, at $33,608 as of press time. Read More:MicroStrategy Buys the Dip, Adds $10M to Bitcoin Treasury Related:First Mover: Bitcoin Flushes 'Weak Hands' as Ethereum Hits New All-Time High Guy Hirsch, U.S. managing director for multi-asset brokerage eToro, says one support level, where traders scoop up bitcoin to push the price back up, seems to have taken hold, leading to the reversal Friday. “There appears to be strong support around $30,000, as prices have rebounded to trade north of $32,000,” Hirsch told CoinDesk. This consolidation is likely the result of smart money continuing to buy bitcoin at a perceived discount. Quantitative trading firm QCP Capital echoed a similar sentiment about the $30,000 level in its most recent investor letter published Friday. “In the near term, we’re expecting a key battle at the $30,000 spot level. This battle for the $30,000 weekly close will be key.” In the derivatives market, bitcoin funding rates for swaps continue heading towards zero, particularly on venue FTX, which currently has the lowest rate, at 0.0318%. This signals leveraged demand to go long is dissipating. “We pay close attention to weekend price action and the leveraged [perpetual] funding rates to gauge retail interest,” QCP noted Friday. Related:Big Investors Stacked up Ether as Price Rose to Record High Read More:Bitcoin Exchange LVL Launches Mastercard Debit Card In the futures market, total open interest (OI) on the eight exchanges monitored by the CoinDesk 20 was at $11 billion Thursday, down from Tuesday’s record high of $13 billion. That is a sign institutional investors are losing interest and may be unwinding some of their positions. “After the BTC top two weeks ago, the strength in U.S. hours has lost momentum for the first time,” QCP also noted. “This is a clear sign of exhaustion in demand from the U.S. institutions and corporates [that] have been the primary drivers of this bull run.” Yet, macroeconomics may come into play, eToro’s Hirsch noted to CoinDesk. “With economic uncertainty continuing as the COVID-19 pandemic continues raging and central bank money printing continues unchecked, I’d expect more people to eventually rotate back into bitcoin in the not-too-distant future.” Ether(ETH), the second-largest cryptocurrency by market capitalization, was up Friday, trading around $1,253 and climbing 4% in 24 hours as of 21:00 UTC (4:00 p.m. ET). Read More:Mining Pools Threaten to Collude Against Contentious Ethereum Update While bitcoin has gained more than 15% thus far in 2021, ether is doing much better, up over 70% over the same time frame. “Ether appears to have finally broken its recent lockstep correlation with bitcoin, as evidenced by its more rapid recovery after a sell-off, which also appears to have been fueled by profit taking after the second-largest crypto asset hit an all-time high earlier this week,” noted eToro’s Guy Hirsch. Jake Brukhman, chief executive officer of crypto investment firm CoinFund, told CoinDesk investors are taking profits made from bitcoin and trading into ether and other assets given the 2021 price performance and high profile of bitcoin. “I think the major assets are going through a dynamic of high hitting, consolidation and rotation,” Brukhman said. “Bitcoin hits [a] high, then consolidates and the money flows into ether. Then ether hits a high, then consolidates and the money flows into polkadot.” Digital assets on theCoinDesk 20are mostly green Friday. Notable winners as of 21:00 UTC (4:00 p.m. ET): • tezos(XTZ) + 16.4% • chainlink(LINK) + 12.7% • algorand(ALGO) + 8.7% One notable loser: • ethereum classic(ETC) – 0.60% Equities: • Asia’s Nikkei 225 index ended the day in the red 0.44% astraders took profits ahead of corporate earnings reports that will arrive next week. • In Europe the FTSE 100 closed slipping 0.30% aseconomic data so far in January shows eurozone business activity is at a two-month low. • In the United States, the S&P 500 fell 0.30% asRepublicans began making statements that fresh government stimulus is not necessary. Commodities: • Oil was down 1.8%. Price per barrel of West Texas Intermediate crude: $52.05. • Gold was in the red 0.85% and at $1,853 as of press time. Treasurys: • The 10-year U.S. Treasury bond yield fell Friday to 1.084 and in the red 2.3%. • Market Wrap: Bitcoin Back Above $33K While Ether Up 65% in 2021 • Market Wrap: Bitcoin Back Above $33K While Ether Up 65% in 2021 \|\| Shh! Commodity ETFs Quietly Rallying: While the stock market may be the biggest beneficiary of the enormous sums of money that governments around the world have pumped into their economies, another asset class is riding the reflation trade as wellcommodities. Left for dead by investors, many commodities have surprised to the upside. Several are higherin some cases, much higherthan where they were before the coronavirus pandemic struck. Its an interesting phenomenon considering most economies are still operating below their peaks, but one that makes sense in the context of a roaring bull market in financial markets across the board. Indeed, even though commodities are used in the real world, their movements are often influenced by trading activity on electronic exchanges, particularly futures markets. This is not to say that real-world fundamentals arent playing a part in the rally as well. Thanks to early stringent lockdown measures, China, the largest consumer of commodities, is back to growing at pre-virus rates. The worlds second-largest economy grew by 6.5% year over year in the fourth quarter, the fastest pace since 2018. Stronger economic growth boosts commodities, and similarly, any stimulus that turbocharges demand helps the group. Thats the case even if the stimulus causes inflation. While equities may be wary that inflation will provoke central banks into hiking interest rates, commodities live in the here and now. An overheated economy isnt an obstacle for the asset class in the short term, its a boon. Commodities also benefit from a sliding dollar, which makes USD-denominated commodities cheaper for overseas buyers, lifting demand on the margin. Solid Gains Of course, commodities are a disparate group, with separate supply and demand fundamentals for each. That said, most of the major ones are heading in the same direction right nowhigher. The largest broad commodities ETF, the $3.1 billion Invesco Optimum Yield Diversified Commodity Strategy No K-1 ETF (PDBC) , is up 20% over the past six months, similar to the 19.4% gain in the S&P 500 over the same time period. 6-Month Returns For PDBC & SPY Story continues Thats solid, but within PDBCs portfolio, certain individual commodities are sporting much higher returns. Take the agricultural complex; corn, soybeans and wheat have surged to levels not seen since 2014 due to strong Chinese demand and poor weather conditions in South American growing regions. The Teucrium Corn Fund (CORN) is up 40% over the past six months, while the Teucrium Soybean Fund (SOYB) has risen 43.14% in that same period. OPEC Supports Oil Meanwhile, oil, one of the worst-performing assets last spring, has made a respectable comeback over the past several months. Both primary oil benchmarksWTI and Brentwere last trading in the mid-$50/barrel range, levels last seen in February 2020. The United States Oil Fund LP (USO) and the United States Brent Oil Fund LP (BNO) gained 22.9% and 23.4%, respectively, over the past six months. An uneasy alliance between the OPEC countries, Russia and others have lent support to prices while demand slowly recovered. The groups output still remains millions of barrels per day below prepandemic levels, leaving the oil supply/demand balance in a slight deficit, according to analysts. Thats supportive of pricesfor now. But should prices continue to rise, OPEC and its allies will surely open their oil taps wider, bringing millions of barrels of more supply onto the market. Multiyear High For Metals Earlier I mentioned that the agricultural commodities were hitting multiyear highs. Theyre not the only ones doing so. Many of the metals are at prices not seen in at least a few years. Copper is at an eight-year high; nickel is at its highest point since 2014; and silver is close to its best level since 2013. These industrial metals have been beneficiaries of the strength in the goods-producing side of the global economy, which has flourished at the same time the services side has struggled amid social distancing. All three of the metals are used extensively in manufacturing and construction. Over the past six months, the iPath Series B Bloomberg Nickel Subindex Total Return ETN (JJN) is up 36.2%; the iShares Silver Trust (SLV) has gained 29.6%; and the United States Copper Index Fund (CPER) returned 23.7%. Signs Of Life Commodities may not be back to their high-flying days of a decade ago, but they are showing signs of life. With central banks committed to bolstering growth, and in some cases, letting inflation run a little hot, this might be an asset class that starts to attract some attention. The ETFs mentioned in this article and others can be found on ETF.coms commodities channel . Learn more about contango and backwardationkey drivers of commodity ETF returns here . Email Sumit Roy at [email protected] or follow him on Twitter @sumitroy2 Recommended Stories Hot Reads: Bitcoin Passes $50K Mark 2020 ETF Trends: Opportunity Expands, Fees Contract 'SLV' Powers Weekly Inflows Silver ETF Pump Loses Steam Permalink \| © Copyright 2021 ETF.com. All rights reserved \|\| Shh! Commodity ETFs Quietly Rallying: While the stock market may be the biggest beneficiary of the enormous sums of money that governments around the world have pumped into their economies, another asset class is riding the reflation trade as well—commodities. Left for dead by investors, many commodities have surprised to the upside. Several are higher—in some cases, much higher—than where they were before the coronavirus pandemic struck. It’s an interesting phenomenon considering most economies are still operating below their peaks, but one that makes sense in the context of a roaring bull market in financial markets across the board. Indeed, even though commodities are used in the real world, their movements are often influenced by trading activity on electronic exchanges, particularly futures markets. This is not to say that real-world fundamentals aren’t playing a part in the rally as well. Thanks to early stringent lockdown measures, China, the largest consumer of commodities, is back to growing at pre-virus rates. The world’s second-largest economy grew by 6.5% year over year in the fourth quarter, the fastest pace since 2018. Stronger economic growth boosts commodities, and similarly, any stimulus that turbocharges demand helps the group. That’s the case even if the stimulus causes inflation. While equities may be wary that inflation will provoke central banks into hiking interest rates, commodities live in the here and now. An overheated economy isn’t an obstacle for the asset class in the short term, it’s a boon. Commodities also benefit from a sliding dollar, which makes USD-denominated commodities cheaper for overseas buyers, lifting demand on the margin. Solid Gains Of course, commodities are a disparate group, with separate supply and demand fundamentals for each. That said, most of the major ones are heading in the same direction right now—higher. The largest broad commodities ETF, the $3.1 billionInvesco Optimum Yield Diversified Commodity Strategy No K-1 ETF (PDBC), is up 20% over the past six months, similar to the 19.4% gain in the S&P 500 over the same time period.6-Month Returns For PDBC & SPY That’s solid, but within PDBC’s portfolio, certain individual commodities are sporting much higher returns. Take the agricultural complex; corn, soybeans and wheat have surged to levels not seen since 2014 due to strong Chinese demand and poor weather conditions in South American growing regions. TheTeucrium Corn Fund (CORN)is up 40% over the past six months, while theTeucrium Soybean Fund (SOYB)has risen 43.14% in that same period. OPEC Supports Oil Meanwhile, oil, one of the worst-performing assets last spring, has made a respectable comeback over the past several months. Both primary oil benchmarks—WTI and Brent—were last trading in the mid-$50/barrel range, levels last seen in February 2020. TheUnited States Oil Fund LP (USO)and theUnited States Brent Oil Fund LP (BNO)gained 22.9% and 23.4%, respectively, over the past six months. An uneasy alliance between the OPEC countries, Russia and others have lent support to prices while demand slowly recovered. The group’s output still remains millions of barrels per day below prepandemic levels, leaving the oil supply/demand balance in a slight deficit, according to analysts. That’s supportive of prices—for now. But should prices continue to rise, OPEC and its allies will surely open their oil taps wider, bringing millions of barrels of more supply onto the market. Multiyear High For Metals Earlier I mentioned that the agricultural commodities were hitting multiyear highs. They’re not the only ones doing so. Many of the metals are at prices not seen in at least a few years. Copper is at an eight-year high; nickel is at its highest point since 2014; and silver is close to its best level since 2013. These industrial metals have been beneficiaries of the strength in the goods-producing side of the global economy, which has flourished at the same time the services side has struggled amid social distancing.All three of the metals are used extensively in manufacturing and construction. Over the past six months, theiPath Series B Bloomberg Nickel Subindex Total Return ETN (JJN)is up 36.2%; theiShares Silver Trust (SLV)has gained 29.6%; and theUnited States Copper Index Fund (CPER)returned 23.7%. Signs Of Life Commodities may not be back to their high-flying days of a decade ago, but they are showing signs of life. With central banks committed to bolstering growth, and in some cases, letting inflation run a little hot, this might be an asset class that starts to attract some attention. The ETFs mentioned in this article and others can be found on ETF.com’scommodities channel. Learn more about contango and backwardation—key drivers of commodity ETF returns—here. Email Sumit Roy [email protected] follow him on Twitter@sumitroy2 Recommended Stories • Hot Reads: Bitcoin Passes $50K Mark • 2020 ETF Trends: Opportunity Expands, Fees Contract • 'SLV' Powers Weekly Inflows • Silver ETF Pump Loses Steam Permalink\| © Copyright 2021ETF.com.All rights reserved \|\| 3 Crypto Stocks To Bull Trade In The Face Of Bitcoin Bearishness: Cryptocurrencies were smoking hot in 2020. Now, after a bit of a dousing, is it time to buy into this emerging market? That decision looks more approachable with an eye on the stock market and three diversified companies offering crypto exposure, as well as solid strides elsewhere. This week a shot was fired over the bow at cryptocurrencies, with specific ammunition aimed at Bitcoin and Ethereum by treasury secretary nominee Janet Yellen. In a nutshell, on Tuesday the soon-to-be government brass suggested“curtailing” the crypto marketgiven its ties to illicit wheeling and dealings. The warning was taken as a sure indication the new administration intends to crack down on digital currencies. And as one of Wall Street’s more favored investments in recent months, the comments didn’t go unnoticed. It even sparked criticism from staunch Bitcoin supporter Cathie Wood, whose outspoken andspot-on aggressive betonTesla(NASDAQ:TSLA) and other cutting edge investments has made her ARK Invest funds among today’s most profitable ETFs in the market. InvestorPlace - Stock Market News, Stock Advice & Trading Tips Yellen’s remarks also unsurprisingly stoked crypto bulls to action. Given Bitcoin’s huge run-up of more than 900% since its March Covid-19 low, some messy-looking and less sure-footed profit-taking followed in its wake. But were investors right to be spooked? If like the ARK Invest founder and CEO who noted Yellen was “on policy watch as bitcoin soared from ~$1,000 – ~$20,000 in 2017”, you might also find Yellen’s latest warning as bullishly“reassuring.” • 7 Great Sub-$20 Stocks to Buy After Inauguration Day Here are 3 crypto stocks to buy in the face of Bitcoin bearishness: • JPMorgan Chase(NYSE:JPM) • Nvidia(NASDAQ:NVDA) • Overstock(NASDAQ:OSTK) If, unlike Cathie Wood, you’re the kind of investor that isn’t ‘all-in’ on cryptos, but still wants exposure, the following three companies stocks may be just what you need. And who knows,Janet’s latest and modest backpedalingmight eventually assist as well. Source:Charts by TradingView The first of our crypto stocks to bull trade are shares of JPMorgan Chase. The top banker’s CEO Jamie Dimon was a notorious critic of the crypto market during the asset group’s initial and infamous rally in 2017. More recently, he saidBitcoin is still “not my cup of tea.” But JPM stock is a “do as I do, not as I say” stock with regards to crypto. Behind the curtain JPM is an outfit that’s embraced crypto’s tethered blockchain technology given its broad applications within the banking business. JPMorgan has also created its own cryptocurrency called JPM Coin. Technically speaking, shares recently broke out of a corrective cup-shaped base formed over the last year, but have since pulled slightly back to test the bullish pattern for support. With stochastics trending nicely, this crypto stock and market heavyweight is a buy today. Favored Strategy:March $125/$150 Collar Source:Charts by TradingView Nvidia is the next of our crypto stocks to buy. Behind much of Bitcoin’s mining activities you’re bound to find NVDA’s high-powered processors as they’re critical to demanding work which requires solving complex algorithms. Thus far, crypto’s reemergence over the past year hasn’t spelled additional demand for Nvidia’s GPUs. But the situation does have Wedbush’s Chief Technology Strategist’s watching attentively for a potential growth driver. I’d simply call crypto NVDA’s unnecessary ace up its sleeve given the semiconductor outfit’s success in other growth markets from data centers to gaming or autonomous automobiles and artificial intelligence. Technically, this crypto stock has been consolidating for nearly five-months. An irregular double-bottom has been followed up by mostly lateral price movement since mid-November. More recently, a confirmed weekly doji low inside the base backed by an oversold bullish stochastics crossover supports buying NVDA on weakness today. • 7 Great Sub-$20 Stocks to Buy After Inauguration Day Favored Strategy:March $575/$625 Bull Call Spread Source:Charts by TradingView Overstock is the last of our crypto stocks to buy. It’s also bar none, the most controversial. The e-commerce retailer’s founder andformer CEO would fit right inwith today’s conspiracy membership at QAnon. But to turn a blind eye to OSTK today looks like a big investment mistake. Aside from making a huge comeback in its retail business during Covid-19, this crypto play is an early adopter of allowing bitcoin transactions for buying all those essential and nonessential goods online. Overstock is also involved in cryptos vis-à-vis its Medici Ventures and tZERO businesses. Given the forceful upward sloping trend for online shopping and varied exposure to the crypto market, OSTK definitely has some ammo to move successfully forward. Given a valuation of just under $3 billion, maybe even more so. More assuredly and following today’s successful daily confirmation of a two-month candlestick reversal pattern to completea slightly ill-formed Gartley pattern, going long this crypto stock looks like smart business. Favored Strategy:June $80/$110 Bull Call Spread Stocks owned: On the date of publication, Chris Tyler holds, directly or indirectly, positions in listed Bitcoin and Ethereum stocks (GBTC, ETHE and ETCG), but no other securities mentioned in this article. Chris Tyler is a former floor-based, derivatives market maker on the American and Pacific exchanges. The information offered is based on his professional experience but strictly intended for educational purposes only. Any use of this information is 100% the responsibility of the individual. For additional market insights and related musings, follow Chris on Twitter@Options_CATandStockTwits. • Why Everyone Is Investing in 5G All WRONG • Top Stock Picker Reveals His Next 1,000% Winner • It doesn’t matter if you have $500 in savings or $5 million. Do this now. The post3 Crypto Stocks To Bull Trade In The Face Of Bitcoin Bearishnessappeared first onInvestorPlace. \|\| 3 Crypto Stocks To Bull Trade In The Face Of Bitcoin Bearishness: Cryptocurrencies were smoking hot in 2020. Now, after a bit of a dousing, is it time to buy into this emerging market? That decision looks more approachable with an eye on the stock market and three diversified companies offering crypto exposure, as well as solid strides elsewhere. This week a shot was fired over the bow at cryptocurrencies, with specific ammunition aimed at Bitcoin and Ethereum by treasury secretary nominee Janet Yellen. In a nutshell, on Tuesday the soon-to-be government brass suggested“curtailing” the crypto marketgiven its ties to illicit wheeling and dealings. The warning was taken as a sure indication the new administration intends to crack down on digital currencies. And as one of Wall Street’s more favored investments in recent months, the comments didn’t go unnoticed. It even sparked criticism from staunch Bitcoin supporter Cathie Wood, whose outspoken andspot-on aggressive betonTesla(NASDAQ:TSLA) and other cutting edge investments has made her ARK Invest funds among today’s most profitable ETFs in the market. InvestorPlace - Stock Market News, Stock Advice & Trading Tips Yellen’s remarks also unsurprisingly stoked crypto bulls to action. Given Bitcoin’s huge run-up of more than 900% since its March Covid-19 low, some messy-looking and less sure-footed profit-taking followed in its wake. But were investors right to be spooked? If like the ARK Invest founder and CEO who noted Yellen was “on policy watch as bitcoin soared from ~$1,000 – ~$20,000 in 2017”, you might also find Yellen’s latest warning as bullishly“reassuring.” • 7 Great Sub-$20 Stocks to Buy After Inauguration Day Here are 3 crypto stocks to buy in the face of Bitcoin bearishness: • JPMorgan Chase(NYSE:JPM) • Nvidia(NASDAQ:NVDA) • Overstock(NASDAQ:OSTK) If, unlike Cathie Wood, you’re the kind of investor that isn’t ‘all-in’ on cryptos, but still wants exposure, the following three companies stocks may be just what you need. And who knows,Janet’s latest and modest backpedalingmight eventually assist as well. Source:Charts by TradingView The first of our crypto stocks to bull trade are shares of JPMorgan Chase. The top banker’s CEO Jamie Dimon was a notorious critic of the crypto market during the asset group’s initial and infamous rally in 2017. More recently, he saidBitcoin is still “not my cup of tea.” But JPM stock is a “do as I do, not as I say” stock with regards to crypto. Behind the curtain JPM is an outfit that’s embraced crypto’s tethered blockchain technology given its broad applications within the banking business. JPMorgan has also created its own cryptocurrency called JPM Coin. Technically speaking, shares recently broke out of a corrective cup-shaped base formed over the last year, but have since pulled slightly back to test the bullish pattern for support. With stochastics trending nicely, this crypto stock and market heavyweight is a buy today. Favored Strategy:March $125/$150 Collar Source:Charts by TradingView Nvidia is the next of our crypto stocks to buy. Behind much of Bitcoin’s mining activities you’re bound to find NVDA’s high-powered processors as they’re critical to demanding work which requires solving complex algorithms. Thus far, crypto’s reemergence over the past year hasn’t spelled additional demand for Nvidia’s GPUs. But the situation does have Wedbush’s Chief Technology Strategist’s watching attentively for a potential growth driver. I’d simply call crypto NVDA’s unnecessary ace up its sleeve given the semiconductor outfit’s success in other growth markets from data centers to gaming or autonomous automobiles and artificial intelligence. Technically, this crypto stock has been consolidating for nearly five-months. An irregular double-bottom has been followed up by mostly lateral price movement since mid-November. More recently, a confirmed weekly doji low inside the base backed by an oversold bullish stochastics crossover supports buying NVDA on weakness today. • 7 Great Sub-$20 Stocks to Buy After Inauguration Day Favored Strategy:March $575/$625 Bull Call Spread Source:Charts by TradingView Overstock is the last of our crypto stocks to buy. It’s also bar none, the most controversial. The e-commerce retailer’s founder andformer CEO would fit right inwith today’s conspiracy membership at QAnon. But to turn a blind eye to OSTK today looks like a big investment mistake. Aside from making a huge comeback in its retail business during Covid-19, this crypto play is an early adopter of allowing bitcoin transactions for buying all those essential and nonessential goods online. Overstock is also involved in cryptos vis-à-vis its Medici Ventures and tZERO businesses. Given the forceful upward sloping trend for online shopping and varied exposure to the crypto market, OSTK definitely has some ammo to move successfully forward. Given a valuation of just under $3 billion, maybe even more so. More assuredly and following today’s successful daily confirmation of a two-month candlestick reversal pattern to completea slightly ill-formed Gartley pattern, going long this crypto stock looks like smart business. Favored Strategy:June $80/$110 Bull Call Spread Stocks owned: On the date of publication, Chris Tyler holds, directly or indirectly, positions in listed Bitcoin and Ethereum stocks (GBTC, ETHE and ETCG), but no other securities mentioned in this article. Chris Tyler is a former floor-based, derivatives market maker on the American and Pacific exchanges. The information offered is based on his professional experience but strictly intended for educational purposes only. Any use of this information is 100% the responsibility of the individual. For additional market insights and related musings, follow Chris on Twitter@Options_CATandStockTwits. • Why Everyone Is Investing in 5G All WRONG • Top Stock Picker Reveals His Next 1,000% Winner • It doesn’t matter if you have $500 in savings or $5 million. Do this now. The post3 Crypto Stocks To Bull Trade In The Face Of Bitcoin Bearishnessappeared first onInvestorPlace. \|\| 3 Crypto Stocks To Bull Trade In The Face Of Bitcoin Bearishness: Cryptocurrencies were smoking hot in 2020. Now, after a bit of a dousing, is it time to buy into this emerging market? That decision looks more approachable with an eye on the stock market and three diversified companies offering crypto exposure, as well as solid strides elsewhere. This week a shot was fired over the bow at cryptocurrencies, with specific ammunition aimed at Bitcoin and Ethereum by treasury secretary nominee Janet Yellen. In a nutshell, on Tuesday the soon-to-be government brass suggested “curtailing” the crypto market given its ties to illicit wheeling and dealings. The warning was taken as a sure indication the new administration intends to crack down on digital currencies. And as one of Wall Street’s more favored investments in recent months, the comments didn’t go unnoticed. It even sparked criticism from staunch Bitcoin supporter Cathie Wood, whose outspoken and spot-on aggressive bet on Tesla (NASDAQ: TSLA ) and other cutting edge investments has made her ARK Invest funds among today’s most profitable ETFs in the market. InvestorPlace - Stock Market News, Stock Advice & Trading Tips Yellen’s remarks also unsurprisingly stoked crypto bulls to action. Given Bitcoin’s huge run-up of more than 900% since its March Covid-19 low, some messy-looking and less sure-footed profit-taking followed in its wake. But were investors right to be spooked? If like the ARK Invest founder and CEO who noted Yellen was “on policy watch as bitcoin soared from ~$1,000 – ~$20,000 in 2017”, you might also find Yellen’s latest warning as bullishly “reassuring.” 7 Great Sub-$20 Stocks to Buy After Inauguration Day Here are 3 crypto stocks to buy in the face of Bitcoin bearishness: JPMorgan Chase (NYSE: JPM ) Nvidia (NASDAQ: NVDA ) Overstock (NASDAQ: OSTK ) If, unlike Cathie Wood, you’re the kind of investor that isn’t ‘all-in’ on cryptos, but still wants exposure, the following three companies stocks may be just what you need. And who knows, Janet’s latest and modest backpedaling might eventually assist as well. Story continues Crypto Stocks to Buy: JPMorgan Chase (JPM) JPMorgan Chase (JPM) monthly cup breakout and pullback Source: Charts by TradingView The first of our crypto stocks to bull trade are shares of JPMorgan Chase. The top banker’s CEO Jamie Dimon was a notorious critic of the crypto market during the asset group’s initial and infamous rally in 2017. More recently, he said Bitcoin is still “not my cup of tea.” But JPM stock is a “do as I do, not as I say” stock with regards to crypto. Behind the curtain JPM is an outfit that’s embraced crypto’s tethered blockchain technology given its broad applications within the banking business. JPMorgan has also created its own cryptocurrency called JPM Coin. Technically speaking, shares recently broke out of a corrective cup-shaped base formed over the last year, but have since pulled slightly back to test the bullish pattern for support. With stochastics trending nicely, this crypto stock and market heavyweight is a buy today. Favored Strategy: March $125/$150 Collar Nvidia (NVDA) Nvidia (NVDA) bullish base building and opportunity to buy on weakness Source: Charts by TradingView Nvidia is the next of our crypto stocks to buy. Behind much of Bitcoin’s mining activities you’re bound to find NVDA’s high-powered processors as they’re critical to demanding work which requires solving complex algorithms. Thus far, crypto’s reemergence over the past year hasn’t spelled additional demand for Nvidia’s GPUs. But the situation does have Wedbush’s Chief Technology Strategist’s watching attentively for a potential growth driver. I’d simply call crypto NVDA’s unnecessary ace up its sleeve given the semiconductor outfit’s success in other growth markets from data centers to gaming or autonomous automobiles and artificial intelligence. Technically, this crypto stock has been consolidating for nearly five-months. An irregular double-bottom has been followed up by mostly lateral price movement since mid-November. More recently, a confirmed weekly doji low inside the base backed by an oversold bullish stochastics crossover supports buying NVDA on weakness today. 7 Great Sub-$20 Stocks to Buy After Inauguration Day Favored Strategy: March $575/$625 Bull Call Spread Overstock (OSTK) Overstock (OSTK) completed monthly Gartley pattern Source: Charts by TradingView Overstock is the last of our crypto stocks to buy. It’s also bar none, the most controversial. The e-commerce retailer’s founder and former CEO would fit right in with today’s conspiracy membership at QAnon. But to turn a blind eye to OSTK today looks like a big investment mistake. Aside from making a huge comeback in its retail business during Covid-19, this crypto play is an early adopter of allowing bitcoin transactions for buying all those essential and nonessential goods online. Overstock is also involved in cryptos vis-à-vis its Medici Ventures and tZERO businesses. Given the forceful upward sloping trend for online shopping and varied exposure to the crypto market, OSTK definitely has some ammo to move successfully forward. Given a valuation of just under $3 billion, maybe even more so. More assuredly and following today’s successful daily confirmation of a two-month candlestick reversal pattern to complete a slightly ill-formed Gartley pattern , going long this crypto stock looks like smart business. Favored Strategy: June $80/$110 Bull Call Spread Stocks owned: On the date of publication, Chris Tyler holds, directly or indirectly, positions in listed Bitcoin and Ethereum stocks (GBTC, ETHE and ETCG), but no other securities mentioned in this article. Chris Tyler is a former floor-based, derivatives market maker on the American and Pacific exchanges. The information offered is based on his professional experience but strictly intended for educational purposes only. Any use of this information is 100% the responsibility of the individual. For additional market insights and related musings, follow Chris on Twitter @Options_CAT and StockTwits . More From InvestorPlace Why Everyone Is Investing in 5G All WRONG Top Stock Picker Reveals His Next 1,000% Winner It doesn’t matter if you have $500 in savings or $5 million. Do this now. The post 3 Crypto Stocks To Bull Trade In The Face Of Bitcoin Bearishness appeared first on InvestorPlace . \|\| Stop the Fixation With Bitcoin and Invest in Ethereum: The recent surge in popular cryptocurrencyBitcoin(CCC:BTC-USD) has sparked an increase in other cryptocurrencies’ prices. Right now,Ethereum’s(CCC:ETH-USD) Ether is the second most valuable altcoin and is up roughly 100% in the past month. Source: Shutterstock As such, institutional investors should start looking at Ethereum with similar engrossment as they do Bitcoin — the cryptocurrency should grow substantially following a constriction in supply as well as with the release of its new and improved platform. While Bitcoin is just digital money, Ethereum is essentially a programmable“smart contract” platform. The Bitcoin blockchain facilitates the storage, validation and replication of transactional data. But the Ethereum platform is unique as it allows its users to run computer code, termed as smart contracts. These contracts are useful for more or less any financial transaction. Hence, ETH eliminates the need for a middleman or intermediary in financial transactions, potentially disrupting several industries. InvestorPlace - Stock Market News, Stock Advice & Trading Tips That’s why an increasing amount of Ether — Ethereum’s digital currency — is being locked up. Savvy investors should be interested. That supply reduction will push up its value soon. Future growth in the value of Ether currency is a simple matter of supply and demand. Aset amount of the coinis put in each year with no hard cap on its issuance. The currency’s growth rate is therefore virtually at 0%. In the next few years, the issuance rate is likely to be even lower than Bitcoin. • 7 Great Sub-$20 Stocks to Buy After Inauguration Day There are two main factors for the constriction in supply. Firstly, the popularity of decentralized financial apps is rising. Therefore, more Ether is getting locked up for smart contract usage. The new Ethereum platform called “Ethereum 2.0 ” will require itsusers to lock-up a certain amountof Ether as collateral. Another element of the Ethereum 2.0 implementation is that it will lead to an increase in the platform’s network value. The new platformwill have fewer scalability troubles, a more extensive feature set and will abandon the need for proof of work. Staking will also allow users toearn returns from holding coins, similar to bank deposits. Moreover, it also enables the currency to become a carry asset, supporting its function as a value store. What does that mean? Well, institutional investors would be more interested in holding a fair bit of their portfolios in Ether. The cryptocurrency will also complement cash and securities for investors. However, one of the biggest edges that Ethereum has over its competitors is its agreement network that has become a hit in the decentralized finance industry. There are already major brands developing their projects on the Ethereum platform and more companies should follow suit, starting their blockchain efforts on 2.0. Ethereum has undergone a few minor upgrades in the past few years. But, now it’s undergoing its most significant upgrade yet. Ethereum 2.0 is based on a proof of stake system and relies on users posting collateral rather than performing complex calculations. It is also more secure and decentralized. And perhaps most crucially, itsscalable. So, Ethereum is a unique and powerful platform that is tailormade for a variety of financial projects. What’s more, the rollout of its latest update will offer greater flexibility, scalability and a more comprehensive range of options to its users. As such, the value of Ether cryptocurrency will continue to rise due to the constriction in supply from staking and the expected increase in demand. Therefore, investors should stop with the Bitcoin fixation and look at Ethereum. It is an incredibly viable alternative. Onthe date of publication, Muslim Farooque did not have (either directly or indirectly) any positions in the securities mentioned in this article Muslim Farooque is a keen investor and an optimist at heart. A life-long gamer and tech enthusiast, he has a particular affinity for analyzing technology stocks. Muslim holds a bachelor’s of science degree in applied accounting from Oxford Brookes University. • Why Everyone Is Investing in 5G All WRONG • Top Stock Picker Reveals His Next 1,000% Winner • It doesn’t matter if you have $500 in savings or $5 million. Do this now. The postStop the Fixation With Bitcoin and Invest in Ethereumappeared first onInvestorPlace. \|\| Stop the Fixation With Bitcoin and Invest in Ethereum: The recent surge in popular cryptocurrencyBitcoin(CCC:BTC-USD) has sparked an increase in other cryptocurrencies’ prices. Right now,Ethereum’s(CCC:ETH-USD) Ether is the second most valuable altcoin and is up roughly 100% in the past month. Source: Shutterstock As such, institutional investors should start looking at Ethereum with similar engrossment as they do Bitcoin — the cryptocurrency should grow substantially following a constriction in supply as well as with the release of its new and improved platform. While Bitcoin is just digital money, Ethereum is essentially a programmable“smart contract” platform. The Bitcoin blockchain facilitates the storage, validation and replication of transactional data. But the Ethereum platform is unique as it allows its users to run computer code, termed as smart contracts. These contracts are useful for more or less any financial transaction. Hence, ETH eliminates the need for a middleman or intermediary in financial transactions, potentially disrupting several industries. InvestorPlace - Stock Market News, Stock Advice & Trading Tips That’s why an increasing amount of Ether — Ethereum’s digital currency — is being locked up. Savvy investors should be interested. That supply reduction will push up its value soon. Future growth in the value of Ether currency is a simple matter of supply and demand. Aset amount of the coinis put in each year with no hard cap on its issuance. The currency’s growth rate is therefore virtually at 0%. In the next few years, the issuance rate is likely to be even lower than Bitcoin. • 7 Great Sub-$20 Stocks to Buy After Inauguration Day There are two main factors for the constriction in supply. Firstly, the popularity of decentralized financial apps is rising. Therefore, more Ether is getting locked up for smart contract usage. The new Ethereum platform called “Ethereum 2.0 ” will require itsusers to lock-up a certain amountof Ether as collateral. Another element of the Ethereum 2.0 implementation is that it will lead to an increase in the platform’s network value. The new platformwill have fewer scalability troubles, a more extensive feature set and will abandon the need for proof of work. Staking will also allow users toearn returns from holding coins, similar to bank deposits. Moreover, it also enables the currency to become a carry asset, supporting its function as a value store. What does that mean? Well, institutional investors would be more interested in holding a fair bit of their portfolios in Ether. The cryptocurrency will also complement cash and securities for investors. However, one of the biggest edges that Ethereum has over its competitors is its agreement network that has become a hit in the decentralized finance industry. There are already major brands developing their projects on the Ethereum platform and more companies should follow suit, starting their blockchain efforts on 2.0. Ethereum has undergone a few minor upgrades in the past few years. But, now it’s undergoing its most significant upgrade yet. Ethereum 2.0 is based on a proof of stake system and relies on users posting collateral rather than performing complex calculations. It is also more secure and decentralized. And perhaps most crucially, itsscalable. So, Ethereum is a unique and powerful platform that is tailormade for a variety of financial projects. What’s more, the rollout of its latest update will offer greater flexibility, scalability and a more comprehensive range of options to its users. As such, the value of Ether cryptocurrency will continue to rise due to the constriction in supply from staking and the expected increase in demand. Therefore, investors should stop with the Bitcoin fixation and look at Ethereum. It is an incredibly viable alternative. Onthe date of publication, Muslim Farooque did not have (either directly or indirectly) any positions in the securities mentioned in this article Muslim Farooque is a keen investor and an optimist at heart. A life-long gamer and tech enthusiast, he has a particular affinity for analyzing technology stocks. Muslim holds a bachelor’s of science degree in applied accounting from Oxford Brookes University. • Why Everyone Is Investing in 5G All WRONG • Top Stock Picker Reveals His Next 1,000% Winner • It doesn’t matter if you have $500 in savings or $5 million. Do this now. The postStop the Fixation With Bitcoin and Invest in Ethereumappeared first onInvestorPlace. \|\| Stop the Fixation With Bitcoin and Invest in Ethereum: The recent surge in popular cryptocurrency Bitcoin (CCC: BTC-USD ) has sparked an increase in other cryptocurrencies’ prices. Right now, Ethereum’s (CCC: ETH-USD ) Ether is the second most valuable altcoin and is up roughly 100% in the past month. A stack of ether or ethereum coins on a gold background. Source: Shutterstock As such, institutional investors should start looking at Ethereum with similar engrossment as they do Bitcoin — the cryptocurrency should grow substantially following a constriction in supply as well as with the release of its new and improved platform. While Bitcoin is just digital money, Ethereum is essentially a programmable “smart contract” platform . The Bitcoin blockchain facilitates the storage, validation and replication of transactional data. But the Ethereum platform is unique as it allows its users to run computer code, termed as smart contracts. These contracts are useful for more or less any financial transaction. Hence, ETH eliminates the need for a middleman or intermediary in financial transactions, potentially disrupting several industries. InvestorPlace - Stock Market News, Stock Advice & Trading Tips That’s why an increasing amount of Ether — Ethereum’s digital currency — is being locked up. Savvy investors should be interested. That supply reduction will push up its value soon. Etherium’s Supply and Demand Future growth in the value of Ether currency is a simple matter of supply and demand. A set amount of the coin is put in each year with no hard cap on its issuance. The currency’s growth rate is therefore virtually at 0%. In the next few years, the issuance rate is likely to be even lower than Bitcoin. 7 Great Sub-$20 Stocks to Buy After Inauguration Day There are two main factors for the constriction in supply. Firstly, the popularity of decentralized financial apps is rising. Therefore, more Ether is getting locked up for smart contract usage. The new Ethereum platform called “Ethereum 2.0 ” will require its users to lock-up a certain amount of Ether as collateral. Another element of the Ethereum 2.0 implementation is that it will lead to an increase in the platform’s network value. The new platform will have fewer scalability troubles , a more extensive feature set and will abandon the need for proof of work. Staking will also allow users to earn returns from holding coins , similar to bank deposits. Moreover, it also enables the currency to become a carry asset, supporting its function as a value store. What does that mean? Well, institutional investors would be more interested in holding a fair bit of their portfolios in Ether. The cryptocurrency will also complement cash and securities for investors. Story continues Smart Contract Platform However, one of the biggest edges that Ethereum has over its competitors is its agreement network that has become a hit in the decentralized finance industry. There are already major brands developing their projects on the Ethereum platform and more companies should follow suit, starting their blockchain efforts on 2.0. Ethereum has undergone a few minor upgrades in the past few years. But, now it’s undergoing its most significant upgrade yet. Ethereum 2.0 is based on a proof of stake system and relies on users posting collateral rather than performing complex calculations. It is also more secure and decentralized. And perhaps most crucially, its scalable. Bottom Line on Ethereum So, Ethereum is a unique and powerful platform that is tailormade for a variety of financial projects. What’s more, the rollout of its latest update will offer greater flexibility, scalability and a more comprehensive range of options to its users. As such, the value of Ether cryptocurrency will continue to rise due to the constriction in supply from staking and the expected increase in demand. Therefore, investors should stop with the Bitcoin fixation and look at Ethereum. It is an incredibly viable alternative. On the date of publication, Muslim Farooque did not have (either directly or indirectly) any positions in the securities mentioned in this article Muslim Farooque is a keen investor and an optimist at heart. A life-long gamer and tech enthusiast, he has a particular affinity for analyzing technology stocks. Muslim holds a bachelor’s of science degree in applied accounting from Oxford Brookes University. More From InvestorPlace Why Everyone Is Investing in 5G All WRONG Top Stock Picker Reveals His Next 1,000% Winner It doesn’t matter if you have $500 in savings or $5 million. Do this now. The post Stop the Fixation With Bitcoin and Invest in Ethereum appeared first on InvestorPlace . View comments \|\| Coinbase Now Has Over $90B in Assets on Platform: Coinbase saw whopping growth in 2020 as bitcoin rallied to close out the year. New numbers published on the Coinbase “ About ” page Friday show the exchange now has over $90 billion in assets on platform and over 43 million registered users. An Internet Archive snapshot from as recently as last week shows $25 billion in assets on platform though it’s unclear when that data was collected. The updated figures were collected as part of Coinbase’s 2020 year in review and are current as of Dec. 31, 2020. Related: Shariah-Compliant Crypto Exchange Wins License From Bahrain Central Bank “In this report, we take you on a comprehensive tour of the crypto asset class, sharing our unique perspective on how and why these institutions are engaging with the market,” Coinbase Institutional’s Brian Foster wrote in the report’s cover letter. Coinbase’s asset surge is likely driven by the likes of MicroStrategy , Ruffer Investment and other institutions that have used the exchange’s prime brokerage service to make large bitcoin buys in recent months. Assets under the control of Coinbase Custody accounted for “more than 50%” of the $90 billion total, the report states, adding that Coinbase executed “single trades exceeding $1 billion for some of the largest institutions in the world.” The update from Coinbase comes ahead of an expected public listing. Investment bank Goldman Sachs is reportedly working with the firm on its Wall Street debut. Related: Valkyrie Digital Assets Files for Bitcoin ETF Related Stories Coinbase Now Has Over $90B in Assets on Platform Coinbase Now Has Over $90B in Assets on Platform [Social Media Buzz] None available.	32289.38, 32366.39, 32569.85, 30432.55, 33466.10, 34316.39, 34269.52, 33114.36, 33537.18, 35510.29
Given the historical Bitcoin prices from the last 90 days, predict the next 10 daily closing prices. The historical prices are: 6865.49, 6859.08, 6971.09, 6845.04, 6842.43, 6642.11, 7116.80, 7096.18, 7257.67, 7189.42, 6881.96, 6880.32, 7117.21, 7429.72, 7550.90, 7569.94, 7679.87, 7795.60, 7807.06, 8801.04, 8658.55, 8864.77, 8988.60, 8897.47, 8912.65, 9003.07, 9268.76, 9951.52, 9842.67, 9593.90, 8756.43, 8601.80, 8804.48, 9269.99, 9733.72, 9328.20, 9377.01, 9670.74, 9726.58, 9729.04, 9522.98, 9081.76, 9182.58, 9209.29, 8790.37, 8906.93, 8835.05, 9181.02, 9525.75, 9439.12, 9700.41, 9461.06, 10167.27, 9529.80, 9656.72, 9800.64, 9665.53, 9653.68, 9758.85, 9771.49, 9795.70, 9870.09, 9321.78, 9480.84, 9475.28, 9386.79, 9450.70, 9538.02, 9480.25, 9411.84, 9288.02, 9332.34, 9303.63, 9648.72, 9629.66, 9313.61, 9264.81, 9162.92, 9045.39, 9143.58, 9190.85, 9137.99, 9228.33, 9123.41, 9087.30, 9132.49, 9073.94, 9375.47, 9252.28, 9428.33.	[Bitcoin Technical Analysis for 2020-07-08] Volume: 19702359883, RSI (14-day): 54.23, 50-day EMA: 9213.95, 200-day EMA: 8630.91 [Wider Market Context] Gold Price: 1815.50, Gold RSI: 68.20 Oil Price: 40.90, Oil RSI: 63.22 [Recent News (last 7 days)] How Apples COVID Policy Limited a Public Health App in Taiwan: The Taiwanese startup Bitmark , which participated in a government-sponsored hackathon in May , was unable to promote its blockchain solution due to Apples pandemic moderation policy . We were trying to essentially build a weather forecast but for public health, said Bitmark CEO Sean Moss-Pultz. It allowed people to volunteer their symptoms and what they are trying to do to get better, and connect that to public data from public health offices. Precisely because the World Health Organization excludes Taiwan, the small Asian nation has developed a unique set of software tools for combatting COVID-19. However, the Apple store only lists health apps published by government entities or nonprofits. This means the small nations startup community has limited access to mobile device users. (Apple did not respond to requests for comment by press time.) Related: Why Bitcoin Bulls Are Betting on Explosive Growth in India According to a report by the analytics and accelerator company AppWorks, there are now roughly 112 blockchain startups in Taiwan, including the supply chain management startup BSOS, which received an investment from Taiwans National Development Fund earlier this year. Read more: Austrian Government Funds Development of Blockchain-Based COVID-19 App What are the next growth opportunities for blockchain? Everyone has different interpretations and expectations, the AppWorks report said. However, currently, conversations are mostly centered around the pandemic, with criticisms mainly targeted at the limitations and failures of centralization. Moss-Pultz said his firm experienced those limitations first-hand. The mainstream app stores would only accept the resulting app, called Autonomy, if the Taiwanese government itself released the mobile app. Related: Swiss Government Makes Moves to Encourage Crypto Businesses People all around the world are getting their apps blocked, Moss-Pultz said. We spent most of June trying to figure out what type of strategy we could have. Most likely were just going to [release Autonomy] as a web thing. Story continues Incentives Apple and Google are hardly the only tech giants defining the public pandemic narratives. Amazon, for example, forced bitcoin advocate Knut Svanholm to remove a brief mention of the coronavirus from his self-published book in order to distribute it through Kindle in April. As the Svanholm incident illustrated, moderating health tools during a pandemic without resulting in blunt-force censorship is a difficult task to automate. Colin Steil, co-founder of the Taiwanese blockchain startup Cartesi, said tech companies always have to proceed with caution to avoid their software being used to cause unrest or disrupt in political issues. Internet giants can be accused of censorship regardless of whether they moderate content. Companies like Facebook and Twitter are both heavily criticized for rampant misinformation campaigns on their platforms, although they took radically different approaches to moderation. (Facebook has since recanted and said it will change its policies , due to public pressure.) Critics seem to consider the opposite of censorship to be, not digital anarchy, but consistently high-quality moderation. Read more: Social Media Bans Highlight the Profound Censorship on Web 2.0 Steil said that, compared to stringent but relatively healthy Taiwan, American leaders were stalled for many reasons in reacting to the pandemic and reliant on tech companies to offer solutions. Taiwan took the pandemic very seriously due to its prior experience with viruses, and reacted in a method that used whatever tools and tech they had available, Steil said, highlighting the contrast in public policies. Blockchain Commons founder Christopher Allen, who collaborated with Bitmark at the May hackathon and is an advocate for decentralized identity tech , said good actors at Silicon Valleys tech giants are often stymied by company objectives. So far, American tech companies dominate public services, sometimes even running servers for government agencies, he said, in ways other private companies cannot compete with. Their strategies have been to vertically integrate and limit other people, Allen said of companies like Google, Facebook and Apple. I dont think their intent is malicious in any fashion, but the nature of keeping competition out has a potential harm. Related Stories How Apples COVID Policy Limited a Public Health App in Taiwan How Apples COVID Policy Limited a Public Health App in Taiwan \|\| How Apple’s COVID Policy Limited a Public Health App in Taiwan: The Taiwanese startupBitmark, which participated in a government-sponsored hackathon inMay, was unable to promote its blockchain solution due to Apple’spandemic moderation policy. “We were trying to essentially build a weather forecast but for public health,” said Bitmark CEO Sean Moss-Pultz. “It allowed people to volunteer their symptoms and what they are trying to do to get better, and connect that to public data from public health offices.” Precisely because the World Health OrganizationexcludesTaiwan, the small Asian nation has developed a unique set ofsoftware toolsfor combatting COVID-19. However, the Apple store only lists health apps published by government entities or nonprofits. This means the small nation’s startup community has limited access to mobile device users. (Apple did not respond to requests for comment by press time.) Related:Why Bitcoin Bulls Are Betting on Explosive Growth in India According to a report by the analytics and accelerator company AppWorks, there are now roughly 112 blockchain startups in Taiwan, including the supply chain management startup BSOS, which received an investment from Taiwan’s National Development Fund earlier this year. Read more:Austrian Government Funds Development of Blockchain-Based COVID-19 App “What are the next growth opportunities for blockchain? Everyone has different interpretations and expectations,” the AppWorksreportsaid. “However, currently, conversations are mostly centered around the pandemic, with criticisms mainly targeted at the limitations and failures of centralization.” Moss-Pultz said his firm experienced those limitations first-hand. The mainstream app stores would only accept the resulting app, called Autonomy, if the Taiwanese government itself released the mobile app. Related:Swiss Government Makes Moves to Encourage Crypto Businesses “People all around the world are getting their apps blocked,” Moss-Pultz said. “We spent most of June trying to figure out what type of strategy we could have. … Most likely we’re just going to [release Autonomy] as a web thing.” Apple and Googleare hardly the only tech giantsdefining the publicpandemic narratives. Amazon, for example, forced bitcoin advocateKnut Svanholmto remove a brief mention of the coronavirus from his self-published book in order to distribute it through Kindle in April. As the Svanholm incident illustrated, moderating health tools during a pandemic without resulting in blunt-force censorship is a difficult task to automate. Colin Steil, co-founder of the Taiwanese blockchain startup Cartesi, said tech companies “always have to proceed with caution” to avoid their software being “used to cause unrest or disrupt in political issues.” Internet giants can be accused of censorship regardless of whether they moderate content. Companies likeFacebookandTwitterare both heavily criticized for rampantmisinformationcampaigns on their platforms, although they tookradically differentapproaches to moderation. (Facebook has since recanted and said it willchange its policies, due to public pressure.) Critics seem to consider the opposite of censorship to be, not digital anarchy, but consistently high-quality moderation. Read more:Social Media Bans ‘Highlight the Profound Censorship on Web 2.0’ Steil said that, compared to stringent but relatively healthy Taiwan, American leaders were “stalled for many reasons” in reacting to the pandemic and “reliant on tech companies” to offer solutions. “Taiwan took the pandemic very seriously due to its prior experience with viruses, and reacted in a method that used whatever tools and tech they had available,” Steil said, highlighting the contrast in public policies. Blockchain Commons founder Christopher Allen, whocollaboratedwith Bitmark at the May hackathon and is an advocate fordecentralized identity tech, said “good actors” at Silicon Valley’s tech giants are often “stymied” by company objectives. So far, American tech companies dominate public services, sometimes even running servers for government agencies, he said, in ways other private companies cannot compete with. “Their strategies have been to vertically integrate and limit other people,” Allen said of companies like Google, Facebook and Apple. “I don’t think their intent is malicious in any fashion, but the nature of keeping competition out has a potential harm.” • How Apple’s COVID Policy Limited a Public Health App in Taiwan • How Apple’s COVID Policy Limited a Public Health App in Taiwan \|\| DeFi Driving Chainlink’s Link Token to Record Highs: Chainlink’s link token jumped to record highs on Monday, far surpassing bitcoin’s returns since the start of 2020. The ever-increasing use of Chainlink’s price oracles in decentralized finance (DeFi) is driving the cryptocurrency higher, according to analysts. The 12th largest cryptocurrency by market value clocked a lifetime high of $5.72 at 11:45 UTC (7:45 a.m. ET) and was last trading at $5.65, representing over 200% gains on a year-to-date basis. Meanwhile, bitcoin is down more than 50% from its lifetime high of $20,000 reached in December 2017 and has gained only 29% so far this year, according to data source Coin Metrics. Related: Introducing the CoinDesk 20: The Assets That Matter Most in Crypto The link cryptocurrency has decoupled from bitcoin, the crypto market leader. Observers are associating link’s massive rally with Chainlink’s increased usage in the decentralized finance space. “We’re attributing this short-term price spike to Chainlink’s scaled usage in the DeFi space,” said Vance Spencer, co-founder of Framework Ventures, which is one of the largest private holders of link tokens. “The market cap for DeFi projects have quintupled in the last half year, and most of the ecosystem is now relying on (or planning to rely on) Chainlink for connecting on-chain DeFi smart contracts to off-chain data feeds like commodities and crypto price data.“ Read more: Investment Firm Plans ETF-Like Product for Compound Yield Farmers Meanwhile, Simon Peters, crypto market analyst at investment platform eToro said, “The crypto asset has been displaying a bullish trend for some time now, with Chainlink making all the right noises by partnering with a number of projects in the decentralized finance (DeFi) space.” Related: New Enterprise Ethereum Director Widens Tent to Include Exchanges and DeFi Chainlink is a system of oracles built on top of the Ethereum blockchain that supplies data to decentralized blockchains. For example, if two users bet on the outcome of a binary event, the oracle will tell the smart contract which user won, so it can pay the winning bettor. Story continues With Chainlink, the advantage is that it supplies data to smart contracts in a decentralized way, or from multiple sources. That ensures the security and reliability of the blockchain, which can be compromised in case the oracle depends on a single source. For instance, lending protocol bZx suffered multiple hacks in February as the platform once used Kyber Network as a single oracle, or supplier of asset prices. Hence, the DeFi industry has turned to Chainlinks. Major names in the DeFi space including Kyber Network, AVA, Graph Protocol, Opium Network, Synthetix and now bZx have integrated Chainlink’s oracles, according to its official blog . Chainlink’s official twitter handle has announced at least two partnerships every week over the last two months. The cryptocurrency may have received an additional boost from Chainlink’s association with China’s national blockchain project. “The importance of the Chinese government choosing to integrate Chainlink oracles into their national blockchain services network (BSN) cannot be understated,” said Spencer. Looking forward “Long term, we expect Chainlink’s value to continue to appreciate. We believe that the smart contract platform that eventually becomes the standard for Web3 will be valued at several factors higher than Ethereum’s current market cap. If that is the case, then it’s natural to assume that its security layer, Chainlink, will significantly grow in value as well,” said Spencer. Some observers are of the opinion Chainlink is best positioned to benefit from the ongoing multi-year shift in focus from base layer chains to the middleware services that provide security for data feeds. Read more: Tether CTO Claims USDT Stablecoin Can Boost DeFi Liquidity Further, the lure of earning additional by staking link tokens could drive demand for the cryptocurrency. “The idea that users could someday earn a steady income stream for participating in the crowdsourcing of useful data for smart contracts is likely to be attractive to institutional and educated retail investors alike,” said Spencer. In Chainlink’s ecosystem, staking involves depositing link tokens in a node in order to be able to undertake jobs that require collateral or joining a staking poll in order to connect blockchain to off-chain data, as noted by crypto exchange Exodus. Short-term correction ahead? With the flow of coins toward exchanges recently jumping to the highest level since March, there’s a chance the cryptocurrency could witness a short-term pullback. Exchange net flow, or the difference between volume flowing into and out of exchanges, rose to 3,482, the highest since March 14, according to data provided by the blockchain analytics firm Glassnode . Investors tend to move cryptocurrency from their wallets to exchanges to be able to more quickly liquidate holdings during a price crash or when they expect a price pullback. “From a technical perspective, link just broke past its largest resistance level at ~$4.90 and is now in price discovery mode both in terms of BTC and USD,” said Connor Abendschein, crypto research analyst at Digital Assets Data. Related Stories DeFi Driving Chainlink’s Link Token to Record Highs DeFi Driving Chainlink’s Link Token to Record Highs \|\| DeFi Driving Chainlink’s Link Token to Record Highs: Chainlink’s link token jumped to record highs on Monday, far surpassingbitcoin’sreturns since the start of 2020. The ever-increasing use of Chainlink’s price oracles in decentralized finance (DeFi) is driving the cryptocurrency higher, according to analysts. The 12th largest cryptocurrency by market value clocked a lifetime high of $5.72 at 11:45 UTC (7:45 a.m. ET) and was last trading at $5.65, representing over 200% gains on a year-to-date basis. Meanwhile, bitcoin is down more than 50% from its lifetime high of $20,000 reached in December 2017 and has gained only 29% so far this year, according to data source Coin Metrics. Related:Introducing the CoinDesk 20: The Assets That Matter Most in Crypto The link cryptocurrency has decoupled from bitcoin, the crypto market leader. Observers are associating link’s massive rally with Chainlink’s increased usage in the decentralized finance space. “We’re attributing this short-term price spike to Chainlink’s scaled usage in the DeFi space,” said Vance Spencer, co-founder of Framework Ventures, which is one of the largest private holders of link tokens. “The market cap for DeFi projects have quintupled in the last half year, and most of the ecosystem is now relying on (or planning to rely on) Chainlink for connecting on-chain DeFi smart contracts to off-chain data feeds like commodities and crypto price data.“ Read more:Investment Firm Plans ETF-Like Product for Compound Yield Farmers Meanwhile, Simon Peters, crypto market analyst at investment platform eToro said, “The crypto asset has been displaying a bullish trend for some time now, with Chainlink making all the right noises by partnering with a number of projects in the decentralized finance (DeFi) space.” Related:New Enterprise Ethereum Director Widens Tent to Include Exchanges and DeFi Chainlink is a system of oracles built on top of the Ethereum blockchain that supplies data to decentralized blockchains. For example, if two users bet on the outcome of a binary event, the oracle will tell the smart contract which user won, so it can pay the winning bettor. With Chainlink, the advantage is that it supplies data to smart contracts in a decentralized way, or from multiple sources. That ensures the security and reliability of the blockchain, which can be compromised in case the oracle depends on a single source. For instance, lending protocolbZx sufferedmultiple hacks in February as the platform once used Kyber Network as a single oracle, or supplier of asset prices. Hence, the DeFi industry has turned to Chainlinks. Major names in the DeFi space including Kyber Network, AVA, Graph Protocol, Opium Network, Synthetix and now bZx have integrated Chainlink’s oracles,according to its official blog. Chainlink’sofficial twitter handlehas announced at least two partnerships every week over the last two months. The cryptocurrency may have received an additional boost fromChainlink’s associationwith China’s national blockchain project. “The importance of the Chinese government choosing to integrate Chainlink oracles into their national blockchain services network (BSN) cannot be understated,” said Spencer. “Long term, we expect Chainlink’s value to continue to appreciate. We believe that the smart contract platform that eventually becomes the standard for Web3 will be valued at several factors higher than Ethereum’s current market cap. If that is the case, then it’s natural to assume that its security layer, Chainlink, will significantly grow in value as well,” said Spencer. Some observersare of the opinionChainlink isbest positionedto benefit from the ongoing multi-year shift in focus from base layer chains to the middleware services that provide security for data feeds. Read more:Tether CTO Claims USDT Stablecoin Can Boost DeFi Liquidity Further, the lure of earning additional bystakinglink tokens could drive demand for the cryptocurrency. “The idea that users could someday earn a steady income stream for participating in the crowdsourcing of useful data for smart contracts is likely to be attractive to institutional and educated retail investors alike,” said Spencer. In Chainlink’s ecosystem, staking involves depositing link tokens in a node in order to be able to undertake jobs that require collateral or joining a staking poll in order to connect blockchain to off-chain data,as noted bycrypto exchange Exodus. With the flow of coins toward exchanges recently jumping to the highest level since March, there’s a chance the cryptocurrency could witness a short-term pullback. Exchange net flow, or the difference between volume flowing into and out of exchanges, rose to 3,482, the highest since March 14, according to data provided by the blockchain analytics firmGlassnode. Investors tend to move cryptocurrency from their wallets to exchanges to be able to more quickly liquidate holdings during a price crash or when they expect a price pullback. “From a technical perspective, link just broke past its largest resistance level at ~$4.90 and is now in price discovery mode both in terms of BTC and USD,” said Connor Abendschein, crypto research analyst at Digital Assets Data. • DeFi Driving Chainlink’s Link Token to Record Highs • DeFi Driving Chainlink’s Link Token to Record Highs \|\| Bitcoin and Ethereum futures volume fell dramatically in June: Monthly volumes of both Bitcoin and Ethereum futures both fell in June, each falling back to levels last seen in late 2019 and early 2020, according to data collected by The Block. The monthly volume of Bitcoin futures fell by 40%, from $557 billion to $332 billion, after a record-setting month in May. As for Ethereum futures, the monthly volume fell by 16% in June (from $72.1 billion to $60.7 billion). That number has been steadily declining since it peaked in February 2020. In terms of relative popularity, the volume of Bitcoin futures was 5.5 times larger than those of Ethereum futures. © 2020 The Block Crypto, Inc. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice. \|\| Bitcoin and Ethereum futures volume fell dramatically in June: Monthly volumes of both Bitcoin and Ethereum futures both fell in June, each falling back to levels last seen in late 2019 and early 2020, according to data collected by The Block. The monthly volume of Bitcoin futures fell by 40%, from $557 billion to $332 billion, after a record-setting month in May. As for Ethereum futures, the monthly volume fell by 16% in June (from $72.1 billion to $60.7 billion). That number has been steadily declining since it peaked in February 2020. In terms of relative popularity, the volume of Bitcoin futures was 5.5 times larger than those of Ethereum futures. © 2020 The Block Crypto, Inc. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice. \|\| Bitcoin and Ethereum futures volume fell dramatically in June: Monthly volumes of both Bitcoin and Ethereum futures both fell in June, each falling back to levels last seen in late 2019 and early 2020, according to data collected by The Block. The monthly volume of Bitcoin futures fell by 40%, from $557 billion to $332 billion, after a record-setting month in May. As for Ethereum futures, the monthly volume fell by 16% in June (from $72.1 billion to $60.7 billion). That number has been steadily declining since it peaked in February 2020. In terms of relative popularity, the volume of Bitcoin futures was 5.5 times larger than those of Ethereum futures. © 2020 The Block Crypto, Inc. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice. \|\| Market Wrap: With Low Volatility, Traders Seem to Like $9,000 Bitcoin: Over the past month, while market action has been relatively quiet, crypto traders have punched the buy button when bitcoin’s price drops below $9,000. • Bitcoin(BTC) trading around $9,208 as of 20:00 UTC (4 p.m. ET), slipping 0.80% over the previous 24 hours. • Bitcoin’s 24-hour range: $9,201-$9,379 • BTC above 10-day and 50-day moving average, a bullish signal for market technicians, although trading volumes on Tuesday are lower than Monday. “Bitcoin managed to approach the level of $9,300, after which immediately rolled back to the $9,250 area,” said Constantine Kogan, partner at cryptocurrency fund of funds BitBull Capital. “The coin continues to trade in a narrow price range,” he said, adding that crypto markets are experiencing record low volatility. Read More:Exchanges See Drop in Volumes as Bitcoin Volatility Approaches 2020 Low Related:Introducing the CoinDesk 20: The Assets That Matter Most in Crypto “Such low volatility is uncharacteristic of bitcoin,” said Vishal Shah, an options trader and founder of derivatives exchange Alpha5. “However, this sentiment has permeated through the trading community.” Less volatility has translated into fewer options bets. Open interest has dropped since the June 26 expiration date and is now hovering at the $1.1 billion mark. That’s quite a bit off from where it was in June, when it hit a record $1.8 billion high, according to derivatives data aggregator Skew. The lack of action is causing vigilant traders to change their strategies. For example, there appears to be sentiment that bitcoin at $9,000 is a good price point for traders to buy. “Every time the market has poked its nose below $9,000, buyers have stepped in,” said Rupert Douglas, head of institutional sales at London-based broker Koine. Indeed, over the past month, when the world’s oldest cryptocurrency dipped below $9,000, traders scooped it up on spot markets like Coinbase. Related:As Gold Hits 9-Year High, Bitcoin Eyes Price Breakout Douglas says the narrow bitcoin price action might not last because most traders surely would like more volatility, which is what attracts many to crypto in the first place. “Bitcoin is coiled for a big move,” he told CoinDesk. “I still favor the upside. I think we will see bitcoin heading above $11,000 in short order when a move comes.” Read More:Lightspeed Invests $2.8M in Crypto Market Maker Wintermute Ether(ETH), the second-largest cryptocurrency by market capitalization, was in the red Tuesday, trading around $237, down 0.66% in 24 hours as of 20:00 UTC (4:00 p.m. ET). Read More:Ethereum Activity Metric Hits Highest Level in 2 Years Ethereum-based decentralized exchanges, or DEX, have shined in 2020, with over $5 billion in volume this year so far, according to aggregator Dune Analytics. Kyber Network, a DEX and token project, recently upgraded to its Katalyst and KyberDAO protocol version. This has led to its governance token, Kyber Network Crystal, or KNC, to jump from $0.18 at the start of 2020 to $1.64 Tuesday. Traders are purchasing the Kyber token for its rewards as “staking” KNC generates an ether-based return on fees paid for using the DEX. “Kyber has upgraded to Katalyst,” said Peter Chan, a quantitative trader at Hong Kong-based OneBit Quant. “There has been a staggering 6 million staking in KNC already, very impressive.” Read More:Industry Group Seeks to Get Ahead on Staking Regulations Digital assets on CoinDesk’s big board are mixed Tuesday. Notable winners as of 20:00 UTC (4:00 p.m. ET): • cardano(ADA) +14.2% • dogecoin(DOGE) +13% • ethereum classic(ETC) +5.2% Read More:Cardano at One-Year High on Shelley Upgrade Notable losers as of 20:00 UTC (4:00 p.m. ET): • bitcoin sv(BSV) -3.8% • tron(TRX) -3.8% • xrp(XRP) -1.4% Equities: • In Asia, Japan’s Nikkei 225 ended the day down 0.44%. The index was dragged down bylosses in the real estate and transportation sectors. • The FTSE 100 index closed in the red 1.5%.Coronavirus concerns and fresh lockdownssent European stocks lower Tuesday. • The S&P 500 lost 1.1%.Losses in travel stocksended the U.S. index’s five-day run of gains. Commodities: • Oil is down 0.58%. Price per barrel of West Texas Intermediate crude: $40.35 • Gold rallied in late trading Tuesday, up 0.78% at $1,796 per ounce Treasurys: • U.S. Treasury bonds were mixed Tuesday. Yields, which move in the opposite direction as price, were down most on the 10-year, in the red 6.3%. • Market Wrap: With Low Volatility, Traders Seem to Like $9,000 Bitcoin • Market Wrap: With Low Volatility, Traders Seem to Like $9,000 Bitcoin \|\| Market Wrap: With Low Volatility, Traders Seem to Like $9,000 Bitcoin: Over the past month, while market action has been relatively quiet, crypto traders have punched the buy button when bitcoin’s price drops below $9,000. Bitcoin (BTC) trading around $9,208 as of 20:00 UTC (4 p.m. ET), slipping 0.80% over the previous 24 hours. Bitcoin’s 24-hour range: $9,201-$9,379 BTC above 10-day and 50-day moving average, a bullish signal for market technicians, although trading volumes on Tuesday are lower than Monday. “Bitcoin managed to approach the level of $9,300, after which immediately rolled back to the $9,250 area,” said Constantine Kogan, partner at cryptocurrency fund of funds BitBull Capital. “The coin continues to trade in a narrow price range,” he said, adding that crypto markets are experiencing record low volatility. Read More: Exchanges See Drop in Volumes as Bitcoin Volatility Approaches 2020 Low Related: Introducing the CoinDesk 20: The Assets That Matter Most in Crypto “Such low volatility is uncharacteristic of bitcoin,” said Vishal Shah, an options trader and founder of derivatives exchange Alpha5. “However, this sentiment has permeated through the trading community.” Less volatility has translated into fewer options bets. Open interest has dropped since the June 26 expiration date and is now hovering at the $1.1 billion mark. That’s quite a bit off from where it was in June, when it hit a record $1.8 billion high, according to derivatives data aggregator Skew. The lack of action is causing vigilant traders to change their strategies. For example, there appears to be sentiment that bitcoin at $9,000 is a good price point for traders to buy. “Every time the market has poked its nose below $9,000, buyers have stepped in,” said Rupert Douglas, head of institutional sales at London-based broker Koine. Indeed, over the past month, when the world’s oldest cryptocurrency dipped below $9,000, traders scooped it up on spot markets like Coinbase. Story continues Related: As Gold Hits 9-Year High, Bitcoin Eyes Price Breakout Douglas says the narrow bitcoin price action might not last because most traders surely would like more volatility, which is what attracts many to crypto in the first place. “Bitcoin is coiled for a big move,” he told CoinDesk. “I still favor the upside. I think we will see bitcoin heading above $11,000 in short order when a move comes.” Read More: Lightspeed Invests $2.8M in Crypto Market Maker Wintermute Kyber DEX upgrade skyrockets token Ether (ETH), the second-largest cryptocurrency by market capitalization, was in the red Tuesday, trading around $237, down 0.66% in 24 hours as of 20:00 UTC (4:00 p.m. ET). Read More: Ethereum Activity Metric Hits Highest Level in 2 Years Ethereum-based decentralized exchanges, or DEX, have shined in 2020, with over $5 billion in volume this year so far, according to aggregator Dune Analytics. Kyber Network, a DEX and token project, recently upgraded to its Katalyst and KyberDAO protocol version. This has led to its governance token, Kyber Network Crystal, or KNC, to jump from $0.18 at the start of 2020 to $1.64 Tuesday. Traders are purchasing the Kyber token for its rewards as “staking” KNC generates an ether-based return on fees paid for using the DEX. “Kyber has upgraded to Katalyst,” said Peter Chan, a quantitative trader at Hong Kong-based OneBit Quant. “There has been a staggering 6 million staking in KNC already, very impressive.” Read More: Industry Group Seeks to Get Ahead on Staking Regulations Other markets Digital assets on CoinDesk’s big board are mixed Tuesday. Notable winners as of 20:00 UTC (4:00 p.m. ET): cardano (ADA) +14.2% dogecoin (DOGE) +13% ethereum classic (ETC) +5.2% Read More: Cardano at One-Year High on Shelley Upgrade Notable losers as of 20:00 UTC (4:00 p.m. ET): bitcoin sv (BSV) -3.8% tron (TRX) -3.8% xrp (XRP) -1.4% Equities: In Asia, Japan’s Nikkei 225 ended the day down 0.44%. The index was dragged down by losses in the real estate and transportation sectors . The FTSE 100 index closed in the red 1.5%. Coronavirus concerns and fresh lockdowns sent European stocks lower Tuesday. The S&P 500 lost 1.1%. Losses in travel stocks ended the U.S. index’s five-day run of gains. Commodities: Oil is down 0.58%. Price per barrel of West Texas Intermediate crude: $40.35 Gold rallied in late trading Tuesday, up 0.78% at $1,796 per ounce Treasurys: U.S. Treasury bonds were mixed Tuesday. Yields, which move in the opposite direction as price, were down most on the 10-year, in the red 6.3%. Related Stories Market Wrap: With Low Volatility, Traders Seem to Like $9,000 Bitcoin Market Wrap: With Low Volatility, Traders Seem to Like $9,000 Bitcoin \|\| Market Wrap: With Low Volatility, Traders Seem to Like $9,000 Bitcoin: Over the past month, while market action has been relatively quiet, crypto traders have punched the buy button when bitcoin’s price drops below $9,000. • Bitcoin(BTC) trading around $9,208 as of 20:00 UTC (4 p.m. ET), slipping 0.80% over the previous 24 hours. • Bitcoin’s 24-hour range: $9,201-$9,379 • BTC above 10-day and 50-day moving average, a bullish signal for market technicians, although trading volumes on Tuesday are lower than Monday. “Bitcoin managed to approach the level of $9,300, after which immediately rolled back to the $9,250 area,” said Constantine Kogan, partner at cryptocurrency fund of funds BitBull Capital. “The coin continues to trade in a narrow price range,” he said, adding that crypto markets are experiencing record low volatility. Read More:Exchanges See Drop in Volumes as Bitcoin Volatility Approaches 2020 Low Related:Introducing the CoinDesk 20: The Assets That Matter Most in Crypto “Such low volatility is uncharacteristic of bitcoin,” said Vishal Shah, an options trader and founder of derivatives exchange Alpha5. “However, this sentiment has permeated through the trading community.” Less volatility has translated into fewer options bets. Open interest has dropped since the June 26 expiration date and is now hovering at the $1.1 billion mark. That’s quite a bit off from where it was in June, when it hit a record $1.8 billion high, according to derivatives data aggregator Skew. The lack of action is causing vigilant traders to change their strategies. For example, there appears to be sentiment that bitcoin at $9,000 is a good price point for traders to buy. “Every time the market has poked its nose below $9,000, buyers have stepped in,” said Rupert Douglas, head of institutional sales at London-based broker Koine. Indeed, over the past month, when the world’s oldest cryptocurrency dipped below $9,000, traders scooped it up on spot markets like Coinbase. Related:As Gold Hits 9-Year High, Bitcoin Eyes Price Breakout Douglas says the narrow bitcoin price action might not last because most traders surely would like more volatility, which is what attracts many to crypto in the first place. “Bitcoin is coiled for a big move,” he told CoinDesk. “I still favor the upside. I think we will see bitcoin heading above $11,000 in short order when a move comes.” Read More:Lightspeed Invests $2.8M in Crypto Market Maker Wintermute Ether(ETH), the second-largest cryptocurrency by market capitalization, was in the red Tuesday, trading around $237, down 0.66% in 24 hours as of 20:00 UTC (4:00 p.m. ET). Read More:Ethereum Activity Metric Hits Highest Level in 2 Years Ethereum-based decentralized exchanges, or DEX, have shined in 2020, with over $5 billion in volume this year so far, according to aggregator Dune Analytics. Kyber Network, a DEX and token project, recently upgraded to its Katalyst and KyberDAO protocol version. This has led to its governance token, Kyber Network Crystal, or KNC, to jump from $0.18 at the start of 2020 to $1.64 Tuesday. Traders are purchasing the Kyber token for its rewards as “staking” KNC generates an ether-based return on fees paid for using the DEX. “Kyber has upgraded to Katalyst,” said Peter Chan, a quantitative trader at Hong Kong-based OneBit Quant. “There has been a staggering 6 million staking in KNC already, very impressive.” Read More:Industry Group Seeks to Get Ahead on Staking Regulations Digital assets on CoinDesk’s big board are mixed Tuesday. Notable winners as of 20:00 UTC (4:00 p.m. ET): • cardano(ADA) +14.2% • dogecoin(DOGE) +13% • ethereum classic(ETC) +5.2% Read More:Cardano at One-Year High on Shelley Upgrade Notable losers as of 20:00 UTC (4:00 p.m. ET): • bitcoin sv(BSV) -3.8% • tron(TRX) -3.8% • xrp(XRP) -1.4% Equities: • In Asia, Japan’s Nikkei 225 ended the day down 0.44%. The index was dragged down bylosses in the real estate and transportation sectors. • The FTSE 100 index closed in the red 1.5%.Coronavirus concerns and fresh lockdownssent European stocks lower Tuesday. • The S&P 500 lost 1.1%.Losses in travel stocksended the U.S. index’s five-day run of gains. Commodities: • Oil is down 0.58%. Price per barrel of West Texas Intermediate crude: $40.35 • Gold rallied in late trading Tuesday, up 0.78% at $1,796 per ounce Treasurys: • U.S. Treasury bonds were mixed Tuesday. Yields, which move in the opposite direction as price, were down most on the 10-year, in the red 6.3%. • Market Wrap: With Low Volatility, Traders Seem to Like $9,000 Bitcoin • Market Wrap: With Low Volatility, Traders Seem to Like $9,000 Bitcoin \|\| Nearly $60M in Bitcoin Moved to Ethereum in June: Nearly $60 million worth of bitcoins moved to Ethereum during June, according to data estimates from Dune Analytics . Wrapped Bitcoin, the oldest tokenized bitcoin protocol on Ethereum, is responsible for roughly 75% of that growth after moving more than 4,800 BTC to Ethereum last month. Demand has increased for using bitcoin in a variety of decentralized financial services as Ethereum continues to be the most popular off-chain destination for bitcoins. More specifically, yield farming and MakerDAO adding tokenized bitcoin as collateral are likely strong catalysts, said Medio Demarco, former associate at Deutsche Bank and co-founder of cryptocurrency research firm Delphi Digital. “The recent trend shouldn’t come as a surprise and will probably continue,” Demarco told CoinDesk. Related: Introducing the CoinDesk 20: The Assets That Matter Most in Crypto The increasing popularity of tokenized bitcoin is also no surprise to Ben Chan, CTO at BitGo, the cryptocurrency payments processor that spearheaded Wrapped Bitcoin. “The purpose of WBTC is to bring bitcoin to the world of decentralized finance,” Chan said. “Yield opportunities for lending and supplying WBTC” in Ethereum-based applications are driving recent growth, he added. Currently $132 million worth of bitcoin is on Ethereum, at the time of publication, or roughly 0.08% of the leading cryptocurrency’s market capitalization, according to OnChainFX . Is the growing demand to use bitcoin on Ethereum a positive signal for the leading cryptocurrency? According to Demarco, the trend has a “synergistic” effect for both blockchains. Chan agreed, telling CoinDesk that, for Ethereum, growth in the value of assets on decentralized finance applications is “a step towards the maturation of trustless and transparent financial services.” For Bitcoin, the benefit comes from being able to earn yield and collateralize bitcoin,” which “adds incentive” for users to invest in the cryptocurrency, according to Chan. Related: As Gold Hits 9-Year High, Bitcoin Eyes Price Breakout Using bitcoin on Ethereum is “potentially bullish for both networks,” Chan said. Related Stories Nearly $60M in Bitcoin Moved to Ethereum in June Nearly $60M in Bitcoin Moved to Ethereum in June View comments \|\| Nearly $60M in Bitcoin Moved to Ethereum in June: Nearly $60 million worth ofbitcoinsmoved to Ethereum during June, according to data estimates fromDune Analytics. Wrapped Bitcoin, theoldesttokenized bitcoin protocol on Ethereum, is responsible for roughly 75% of that growth after moving more than 4,800 BTC to Ethereum last month. Demand has increased for using bitcoin in a variety of decentralized financial services as Ethereum continues to be themost popular off-chain destinationfor bitcoins. More specifically,yield farmingand MakerDAOadding tokenized bitcoinas collateral are likely strong catalysts, said Medio Demarco, former associate at Deutsche Bank and co-founder of cryptocurrency research firm Delphi Digital. “The recent trend shouldn’t come as a surprise and will probably continue,” Demarco told CoinDesk. Related:Introducing the CoinDesk 20: The Assets That Matter Most in Crypto The increasing popularity of tokenized bitcoin is also no surprise to Ben Chan, CTO at BitGo, the cryptocurrency payments processor that spearheaded Wrapped Bitcoin. “The purpose of WBTC is to bring bitcoin to the world of decentralized finance,” Chan said. “Yield opportunities for lending and supplying WBTC” in Ethereum-based applications are driving recent growth, he added. Currently $132 million worth of bitcoin is on Ethereum, at the time of publication, or roughly 0.08% of the leading cryptocurrency’s market capitalization, according toOnChainFX. Is the growing demand to use bitcoin on Ethereum a positive signal for the leading cryptocurrency? According to Demarco, the trend has a “synergistic” effect for both blockchains. Chan agreed, telling CoinDesk that, for Ethereum, growth in the value of assets on decentralized finance applications is “a step towards the maturation of trustless and transparent financial services.” For Bitcoin, the benefit comes from being able to earn yield and collateralize bitcoin,” which “adds incentive” for users to invest in the cryptocurrency, according to Chan. Related:As Gold Hits 9-Year High, Bitcoin Eyes Price Breakout Using bitcoin on Ethereum is “potentially bullish for both networks,” Chan said. • Nearly $60M in Bitcoin Moved to Ethereum in June • Nearly $60M in Bitcoin Moved to Ethereum in June \|\| Nearly $60M in Bitcoin Moved to Ethereum in June: Nearly $60 million worth ofbitcoinsmoved to Ethereum during June, according to data estimates fromDune Analytics. Wrapped Bitcoin, theoldesttokenized bitcoin protocol on Ethereum, is responsible for roughly 75% of that growth after moving more than 4,800 BTC to Ethereum last month. Demand has increased for using bitcoin in a variety of decentralized financial services as Ethereum continues to be themost popular off-chain destinationfor bitcoins. More specifically,yield farmingand MakerDAOadding tokenized bitcoinas collateral are likely strong catalysts, said Medio Demarco, former associate at Deutsche Bank and co-founder of cryptocurrency research firm Delphi Digital. “The recent trend shouldn’t come as a surprise and will probably continue,” Demarco told CoinDesk. Related:Introducing the CoinDesk 20: The Assets That Matter Most in Crypto The increasing popularity of tokenized bitcoin is also no surprise to Ben Chan, CTO at BitGo, the cryptocurrency payments processor that spearheaded Wrapped Bitcoin. “The purpose of WBTC is to bring bitcoin to the world of decentralized finance,” Chan said. “Yield opportunities for lending and supplying WBTC” in Ethereum-based applications are driving recent growth, he added. Currently $132 million worth of bitcoin is on Ethereum, at the time of publication, or roughly 0.08% of the leading cryptocurrency’s market capitalization, according toOnChainFX. Is the growing demand to use bitcoin on Ethereum a positive signal for the leading cryptocurrency? According to Demarco, the trend has a “synergistic” effect for both blockchains. Chan agreed, telling CoinDesk that, for Ethereum, growth in the value of assets on decentralized finance applications is “a step towards the maturation of trustless and transparent financial services.” For Bitcoin, the benefit comes from being able to earn yield and collateralize bitcoin,” which “adds incentive” for users to invest in the cryptocurrency, according to Chan. Related:As Gold Hits 9-Year High, Bitcoin Eyes Price Breakout Using bitcoin on Ethereum is “potentially bullish for both networks,” Chan said. • Nearly $60M in Bitcoin Moved to Ethereum in June • Nearly $60M in Bitcoin Moved to Ethereum in June \|\| Central Banks Cannot Print Jobs: Understanding Real Economic Recovery, Feat. Daniel Lacalle: A leading economist shares why crisis-time central bank policies are saving zombie companies while hurting small businesses and startups. Formore episodesand free early access before our regular 3 p.m. Eastern time releases, subscribe withApple Podcasts,Spotify,Pocketcasts,Google Podcasts,Castbox,Stitcher,RadioPublica,iHeartRadioorRSS. This episode is sponsored byBitstampandCrypto.com. • Social media apps get caught in geopolitical tensions • Pitchforks around the Paycheck Protection Program • Brazil blocks Binance Related:Bitcoin News Roundup for July 7, 2020 Our main discussion is with Daniel Lacalle. Daniel is chief economist at Tressis and is the author of numerous books including “Life in the Financial Markets,” “Escape from the Central Bank Trap” and his most recent, “Freedom or Equality.” He has been named one of the 100 most influential economists in the world by Richtopia. See also:Is Scam Selling Suppressing the Price of Bitcoin? In this conversation, he and NLW discuss: • Why the recovery will likely be “L” shaped and uneven, not “V” shaped • Why the central bank driven “bailout of everything” undermines capitalism and promotes zombie companies that can’t service their debts • Why zombie companies crowd out space for startups and small businesses • How government programs can incentivize relationships with government over strong business practices • How the current economic crisis could become a banking crisis Find our guest online: Related:China Stocks Surge and NYC Real Estate Craters: 5 Stories Shaping Markets Today Website:dlacalle.com Twitter:@dlacalle_IA Formore episodesand free early access before our regular 3 p.m. Eastern time releases, subscribe withApple Podcasts,Spotify,Pocketcasts,Google Podcasts,Castbox,Stitcher,RadioPublica,iHeartRadioorRSS. • Central Banks Cannot Print Jobs: Understanding Real Economic Recovery, Feat. Daniel Lacalle • Central Banks Cannot Print Jobs: Understanding Real Economic Recovery, Feat. Daniel Lacalle \|\| Central Banks Cannot Print Jobs: Understanding Real Economic Recovery, Feat. Daniel Lacalle: A leading economist shares why crisis-time central bank policies are saving zombie companies while hurting small businesses and startups. For more episodes and free early access before our regular 3 p.m. Eastern time releases, subscribe with Apple Podcasts , Spotify , Pocketcasts , Google Podcasts , Castbox , Stitcher , RadioPublica , iHeartRadio or RSS . This episode is sponsored by Bitstamp and Crypto.com . Today on the Brief: Social media apps get caught in geopolitical tensions Pitchforks around the Paycheck Protection Program Brazil blocks Binance Related: Bitcoin News Roundup for July 7, 2020 Our main discussion is with Daniel Lacalle. Daniel is chief economist at Tressis and is the author of numerous books including “Life in the Financial Markets,” “Escape from the Central Bank Trap” and his most recent, “Freedom or Equality.” He has been named one of the 100 most influential economists in the world by Richtopia. See also: Is Scam Selling Suppressing the Price of Bitcoin? In this conversation, he and NLW discuss: Why the recovery will likely be “L” shaped and uneven, not “V” shaped Why the central bank driven “bailout of everything” undermines capitalism and promotes zombie companies that can’t service their debts Why zombie companies crowd out space for startups and small businesses How government programs can incentivize relationships with government over strong business practices How the current economic crisis could become a banking crisis Find our guest online: Related: China Stocks Surge and NYC Real Estate Craters: 5 Stories Shaping Markets Today Website: dlacalle.com Twitter: @dlacalle_IA For more episodes and free early access before our regular 3 p.m. Eastern time releases, subscribe with Apple Podcasts , Spotify , Pocketcasts , Google Podcasts , Castbox , Stitcher , RadioPublica , iHeartRadio or RSS . Related Stories Central Banks Cannot Print Jobs: Understanding Real Economic Recovery, Feat. Daniel Lacalle Central Banks Cannot Print Jobs: Understanding Real Economic Recovery, Feat. Daniel Lacalle \|\| Gold Price Prediction – Prices Break Out To 8-Year Highs as US Yields Ease: Gold prices broke out closing above the August 2012 highs putting short term support near the former highs at 1,791. This was a fresh 8-year high. Gold was buoyed as US treasury prices moved higher and yields continued to dip. The dollar whipsawed and closed unchanged but this failed to generate headwinds for the yellow metal. The Labor Department reported today that firings slowed considerably in May. Trade gold with FXTM Gold prices rallied on Tuesday breaking out to fresh 8-year highs. Prices are now poised to test target resistance near the August 2011 highs at $1,890. Support is seen near the 10-day moving average at 1,775 and additional support is seen near the 50-day moving average at 1,731. Short term momentum is positive as the fast stochastic recently generated a crossover buy signal. The current reading on the fast stochastic is 91, above the overbought trigger level of 80 which could foreshadow a correction. Medium-term momentum remains positive as the MACD (moving average convergence divergence) histogram prints in the black with an upward sloping trajectory which points to higher prices. Job Openings and Labor Turnover Survey, a poll of employers, showed a low number of layoffs eased in May. The number of Americans dismissed from their jobs fell to match levels recorded before the coronavirus pandemic and related shutdowns caused widespread layoffs. In May, 1.8 million workers were laid off or otherwise discharged from their jobs, according to the Labor Department. That was down from 7.7 million in April and 11.5 million in March. May’s dismissals were in line with the numbers reported in January and February before the pandemic shut swaths of the U.S. economy. Thisarticlewas originally posted on FX Empire • US Stock Market Overview – Stocks Slide Driven Lower by Energy; Consumer Staples Buck the Trend • Credit/Investments Turned Into End-User Risk Again • USD/JPY Price Forecast – US Dollar Grinds Against Japanese Yen Again • BTC Aims At Further Growth • Silver Price Daily Forecast – Silver Stays Below $18.50 • Crude Oil Price Forecast – Crude Oil Markets Continue to Press Resistance \|\| Gold Price Prediction – Prices Break Out To 8-Year Highs as US Yields Ease: Gold prices broke out closing above the August 2012 highs putting short term support near the former highs at 1,791. This was a fresh 8-year high. Gold was buoyed as US treasury prices moved higher and yields continued to dip. The dollar whipsawed and closed unchanged but this failed to generate headwinds for the yellow metal. The Labor Department reported today that firings slowed considerably in May. Trade gold with FXTM Technical Analysis Gold prices rallied on Tuesday breaking out to fresh 8-year highs. Prices are now poised to test target resistance near the August 2011 highs at $1,890. Support is seen near the 10-day moving average at 1,775 and additional support is seen near the 50-day moving average at 1,731. Short term momentum is positive as the fast stochastic recently generated a crossover buy signal. The current reading on the fast stochastic is 91, above the overbought trigger level of 80 which could foreshadow a correction. Medium-term momentum remains positive as the MACD (moving average convergence divergence) histogram prints in the black with an upward sloping trajectory which points to higher prices. JOLTS Report Show Layoffs Fell in May Job Openings and Labor Turnover Survey, a poll of employers, showed a low number of layoffs eased in May. The number of Americans dismissed from their jobs fell to match levels recorded before the coronavirus pandemic and related shutdowns caused widespread layoffs. In May, 1.8 million workers were laid off or otherwise discharged from their jobs, according to the Labor Department. That was down from 7.7 million in April and 11.5 million in March. May’s dismissals were in line with the numbers reported in January and February before the pandemic shut swaths of the U.S. economy. This article was originally posted on FX Empire More From FXEMPIRE: US Stock Market Overview – Stocks Slide Driven Lower by Energy; Consumer Staples Buck the Trend Credit/Investments Turned Into End-User Risk Again USD/JPY Price Forecast – US Dollar Grinds Against Japanese Yen Again BTC Aims At Further Growth Silver Price Daily Forecast – Silver Stays Below $18.50 Crude Oil Price Forecast – Crude Oil Markets Continue to Press Resistance View comments \|\| Credit/Investments Turned Into End-User Risk Again: Continuing our research from Part I , into what to expect in Q2 and Q3 of 2020, we’ll start by discussing our Adaptive Dynamic Learning predictive modeling system and our belief that the US stock market is rallied beyond proper expectation levels. The Adaptive Dynamic Learning (ADL) modeling systems attempts to identify price and technical indicator DNA markers and attempts to map our these unique price setups. Then, it attempts to learn from the past DNA markers and apply that learned price behavior to future price DNA markers. In this manner, it learns from the past and applies that knowledge to the future. ES ADL PREDICTIVE MODELING On June 15, 2020, we published this article referencing the ADL predictive modeling system and how the US stock markets were, at that time, 12% to 15% overvalued based on this analysis. Continuing this research, our researchers still believe the ES (S&P500) is very likely to fall to levels near $2500 before finding support just below that level. These predicted ADL price levels strongly suggest that the true valuation levels for the ES are near $2500 – not near the overvalued levels closer to $3000. NQ ADL PREDICTIVE MODELING Additionally, an update NQ ADL Weekly chart suggests the NQ has rallied to levels that appear to be extremely overvalued. The current ADL prediction levels suggest the NQ ADL valuation levels should be near $6600 – not near $10,325 as they are now. This suggests a massive -36% price disparity between the current overvalued rally level of the NQ and the expected ADL price level based on our advanced predictive modeling system. Now that we’ve attempted to explain one of the core elements of our research estimates, let’s get further into the data that is likely to present a very real opportunity for skilled technical traders. ECONOMIC CYCLES As you are likely well aware of by now, a series of catastrophic economic events continue to unfold throughout the globe. Most importantly, the ability to earn revenues for consumers and corporations while dealing with hard fixed costs. In previous articles, we’ve suggested our belief that a unique event in localized economies is not much of a concern because global central banks can support the market well enough to allow economic activity to resume near fairly normal levels. We’ve suggested that the bigger problem is when an extended economic contraction takes place that is a global or more wide-spread economic event. This type of economic crisis is much more dangerous because of two factors: Story continues _ A. The continued lack of revenue generation increases the pressure on the individual or corporation to cut costs, employees, or other assets. Without the ability to earn, these individuals or corporations begin to eat up cash reserves very quickly and will quickly begin to identify their longer-term sustainability objectives. Unless the economy starts to recover quickly, this crisis for the individual or corporation could be a moderately slow and dangerous “bleed-out” event leading to bankruptcy. _B. The efforts of localized governments and global banking institutions initially attempt to mitigate the risks of such an event. This is usually done by providing greater capital resources to certain industries, the general banking system, and in other ways/sources. Currently, within the US, a number of forbearance programs have been initiated to take away certain pressures for homeowners and others. Still, the economy must continue to operate within normal boundaries and bills must be paid. With an extended economic collapse, such as we may be experiencing with the COVID-19 virus event, the problems for consumers and corporations grow bigger and more dangerous the longer the economic contraction event continues. When you really start to understand the cycle of these events and then begin to understand the domino-effect process that may already be playing out in some form, skilled technical investors should already be preparing for extended price volatility and unknowns over the next 6+ months or longer. Allow us to explain, in simple terms, how this cycle plays out… _ Local consumers/workers are laid-off or fired from jobs. This puts immediate earnings pressure on local families and individuals and it pushes them into a protective mode where they suddenly must decide between essential items (food, medicine, personal care, transportation, and other essentials) vs. non-essential items (movies, dining out, travel, discretionary purchases, and others). Currently, there are more than 35 million unemployed people in the US (roughly 10% of the total population. _ The COVID-19 shutdown within the US has disrupted the earning capabilities of many businesses over the past 3+ months. As consumers slow down their purchases and businesses close because of government shutdown orders, the problems amplify for many business owners and employees. If you have ever owned your own business, you understand the risks involved and the ongoing hard costs associated with owning a business. Just because the governor orders a “shutdown” doesn’t mean that your hard monthly costs are going away too. This ongoing problem sets up another crisis event in the making – the Business Owner risk factor. How long before these individual business owners simply can’t sustain their operations any longer and are forced into bankruptcy? _ Local governments derive their operating budgets from taxes and revenues generated within their communities. With the COVID-19 shutdown crippling these revenues, we estimate that Q3 and Q4 2020 will become a point of “bleed-out” for many local governments. They may be able to manage their budgets for a few months within the economic contraction period, but we believe the longer this economic contraction event continues, more and more pressure will be put on local and regional (city/state) governments where revenues have likely collapsed 25% to 45%+ recently. _ The bigger cycle start to take place. (A) With consumers laid-off and/or fired from their jobs, their income levels drop dramatically and their spending decreases dramatically. (B) With business owners struggling to survive with hard costs and payroll in a depressed economic environment, these businesses will either find a way to survive or fail – laying off more people and creating further disruption in earnings/revenues for workers and local governments. (C) With local governments slow to react to the economic contraction (and mostly hiring under contract), the decreases in revenue over time may present a very real issue for government agencies and become a real problem 4 to 6+ months into the economic contraction. _ When businesses and governments suddenly realize the scale and scope of the economic contraction , they will attempt to balance their books by adapting (developing new sources of revenue: products, services, taxes, fees) and/or begin to contract themselves. Either of these two options is fraught with risk and could potentially increase the risks of a more extended economic contraction event. Raising taxes or fees on consumers/businesses within a massive economic contraction event will likely push more individuals/businesses into bankruptcy – further decreasing the government revenues. Developing new products/services and marketing them to consumers requires capital and resources. If the product is not a success, the business takes a huge risk making these aggressive transitional moves – which may lead to increased economic concerns. As long as the consumer is struggling and not earning sufficiently, the foundation of the economic structure is at risk of collapsing even further. This cycle is sometimes called the “death cycle” in economic terms. It is a cycle where economic contraction leads to further economic contraction. The process of breaking this cycle is simple, the entire economic engine must “unwind” sufficiently to remove/reduce the overextended valuation and “fluff” within the system. Once this has happened, then a new economic foundation will begin to establish where growth and opportunity will resume within local and regional economies. IMPORTANT ECONOMIC DATA Now, let’s look at some of the data that supports our research. The World Uncertainty Index has recently skyrocketed above 50, the highest level over the past 60+ years. Since the low point, in 1985, the World Uncertainty Index has continued to rise with higher peaks and higher troughs over the past 30+ years. Currently, this index suggests there is a massive amount of uncertainty throughout the globe related to economic function, central banks, geopolitical issues, and humanitarian issues. Bay very close attention to the peaks in this index and the dates of these peaks (2004, 2013, 2020). The 2004 and 2013 peaks occurred roughly 3 to 4 years after a major stock market bottom setup. The current index high would suggest a market bottom may have set up in 2016 and a peak in this Uncertainty index may still be 12 to 24 months away. This suggests we may still experience a moderately high degree of uncertainty and a number of unknown global and economic crisis events over the next 12 to 24 months. The US Federal Reserve has recently begun another massive quantitative easing phase and actively begun to purchase various forms of debt, bonds, and equity within the financial markets. Paying attention to the rallies in the Fed buying activity and the World Uncertainty Index, you’ll see the peaks in the Uncertainty index align with the midpoints of the Fed activities. Generally, the uncertainty levels rise as the US Fed intervenes and executes QE policies to support the global markets. This Global Commodity Price Index chart highlights the recent collapse in raw commodity prices and illustrates the incredibly depressed level of commodities related to global economic activities. Over the past 20 years, the only time when commodity prices were lower was in early 2000~2005 – just after the 9/11 economic contraction. The current Commodity Price Index level suggests we have entered a new deflationary price cycle with the peak setup near August/September 2018 – just before the big downside price contraction started in October 2018. Our researchers have continued to highlight that point on multiple charts as the true peak in the US and global markets At this point in time, developing a safe and protected strategy to ride out these uncertain times is essential. We’ve been advising our clients to stay safely away from the global stock market trends and we issued a Black Swan warning on February 21, 2020, telling all of our clients to “get into cash immediately”. Since then, we’ve advised our clients to move their capital into selected sectors to take advantage of hedging opportunities and targeted trading opportunities over the past 3+ months. We continue to believe the best way to profit from these market trends is to develop a super conservative investment model where Cash is King and proper hedging is essential. There are plenty of great trades to select from – assuming we want to take on the additional risks associated with these trades. We believe the next 3+ months will result in a massive volatility spike, likely seeing the VIX move above 50~60 again, as Q2and Q3 earnings and expectations continue to shock the investment community. We do not believe this potential “V-Shaped” recovery is sustainable and continues to advise our clients to be prepared downside price reversion. Get our Active ETF Swing Trade Signals or if you have any type of retirement account and are looking for signals when to own equities, bonds, or cash, be sure to become a member of my Passive Long-Term ETF Investing Signals which we are about to issue a new signal for subscribers. For a look at all of today’s economic events, check out our economic calendar . Chris Vermeulen Chief Market Strategies Founder of Technical Traders Ltd. NOTICE: Our free research does not constitute a trade recommendation or solicitation for our readers to take any action regarding this research. It is provided for educational purposes only. Our research team produces these research articles to share information with our followers/readers in an effort to try to keep you well informed. This article was originally posted on FX Empire More From FXEMPIRE: S&P 500 Price Forecast – Stock Markets Cotinue to Show Life AUD/USD Price Forecast – Australian Dollar Continues to Be Choppy Facebook Testing All-Time High Despite Growing Boycott GBP/JPY Price Forecast – British Pound Breaks Towards Major Level Silver Price Daily Forecast – Silver Stays Below $18.50 BTC Aims At Further Growth \|\| Credit/Investments Turned Into End-User Risk Again: Continuing our research fromPart I, into what to expect in Q2 and Q3 of 2020, we’ll start by discussing our Adaptive Dynamic Learning predictive modeling system and our belief that theUS stock marketis rallied beyond proper expectation levels. The Adaptive Dynamic Learning (ADL) modeling systems attempts to identify price and technical indicator DNA markers and attempts to map our these unique price setups. Then, it attempts to learn from the past DNA markers and apply that learned price behavior to future price DNA markers. In this manner, it learns from the past and applies that knowledge to the future. On June 15, 2020, we published this article referencing the ADL predictive modeling system and how the US stock markets were, at that time, 12% to 15% overvalued based on this analysis. Continuing this research, our researchers still believe the ES (S&P500) is very likely to fall to levels near $2500 before finding support just below that level. These predicted ADL price levels strongly suggest that the true valuation levels for the ES are near $2500 – not near the overvalued levels closer to $3000. Additionally, an update NQ ADL Weekly chart suggests the NQ has rallied to levels that appear to be extremely overvalued. The current ADL prediction levels suggest the NQ ADL valuation levels should be near $6600 – not near $10,325 as they are now. This suggests a massive -36% price disparity between the current overvalued rally level of the NQ and the expected ADL price level based on our advanced predictive modeling system. Now that we’ve attempted to explain one of the core elements of our research estimates, let’s get further into the data that is likely to present a very real opportunity for skilled technical traders. As you are likely well aware of by now, a series of catastrophic economic events continue to unfold throughout the globe. Most importantly, the ability to earn revenues for consumers and corporations while dealing with hard fixed costs. In previous articles, we’ve suggested our belief that a unique event in localized economies is not much of a concern because global central banks can support the market well enough to allow economic activity to resume near fairly normal levels. We’ve suggested that the bigger problem is when an extended economic contraction takes place that is a global or more wide-spread economic event. This type of economic crisis is much more dangerous because of two factors: _ A. The continued lack of revenue generation increases the pressure on the individual or corporation to cut costs, employees, or other assets. Without the ability to earn, these individuals or corporations begin to eat up cash reserves very quickly and will quickly begin to identify their longer-term sustainability objectives. Unless the economy starts to recover quickly, this crisis for the individual or corporation could be a moderately slow and dangerous “bleed-out” event leading to bankruptcy. _B. The efforts of localized governments and global banking institutions initially attempt to mitigate the risks of such an event. This is usually done by providing greater capital resources to certain industries, the general banking system, and in other ways/sources. Currently, within the US, a number of forbearance programs have been initiated to take away certain pressures for homeowners and others. Still, the economy must continue to operate within normal boundaries and bills must be paid. With an extended economic collapse, such as we may be experiencing with the COVID-19 virus event, the problems for consumers and corporations grow bigger and more dangerous the longer the economic contraction event continues. When you really start to understand the cycle of these events and then begin to understand the domino-effect process that may already be playing out in some form, skilled technical investors should already be preparing for extended price volatility and unknowns over the next 6+ months or longer. Allow us to explain, in simple terms, how this cycle plays out… _ Local consumers/workers are laid-off or fired from jobs. This puts immediate earnings pressure on local families and individuals and it pushes them into a protective mode where they suddenly must decide between essential items (food, medicine, personal care, transportation, and other essentials) vs. non-essential items (movies, dining out, travel, discretionary purchases, and others). Currently, there are more than35 million unemployed people in the US(roughly 10% of the total population. _ The COVID-19 shutdown within the US has disrupted the earning capabilities of many businesses over the past 3+ months. As consumers slow down their purchases and businesses close because of government shutdown orders, the problems amplify for many business owners and employees. If you have ever owned your own business, you understand the risks involved and the ongoing hard costs associated with owning a business. Just because the governor orders a “shutdown” doesn’t mean that your hard monthly costs are going away too. This ongoing problem sets up another crisis event in the making – the Business Owner risk factor. How long before these individual business owners simply can’t sustain their operations any longer and are forced into bankruptcy? _ Local governments derive their operating budgets from taxes and revenues generated within their communities. With the COVID-19 shutdown crippling these revenues, we estimate that Q3 and Q4 2020 will become a point of “bleed-out” for many local governments. They may be able to manage their budgets for a few months within the economic contraction period, but we believe the longer this economic contraction event continues, more and more pressure will be put on local and regional (city/state) governments where revenues have likely collapsed 25% to 45%+ recently. _ The bigger cycle start to take place. (A) With consumers laid-off and/or fired from their jobs, theirincomelevels drop dramatically and theirspendingdecreases dramatically. (B) With business owners struggling to survive with hard costs and payroll in a depressed economic environment, these businesses will either find a way to survive or fail – laying off more people and creating further disruption in earnings/revenues for workers and local governments. (C) With local governments slow to react to the economic contraction (and mostly hiring under contract), the decreases in revenue over time may present a very real issue for government agencies and become a real problem 4 to 6+ months into the economic contraction. _ When businesses and governments suddenly realize the scale and scope of theeconomic contraction, they will attempt to balance their books by adapting (developing new sources of revenue: products, services, taxes, fees) and/or begin to contract themselves. Either of these two options is fraught with risk and could potentially increase the risks of a more extended economic contraction event. Raising taxes or fees on consumers/businesses within a massive economic contraction event will likely push more individuals/businesses into bankruptcy – further decreasing the government revenues. Developing new products/services and marketing them to consumers requires capital and resources. If the product is not a success, the business takes a huge risk making these aggressive transitional moves – which may lead to increased economic concerns. As long as the consumer is struggling and not earning sufficiently, the foundation of the economic structure is at risk of collapsing even further. This cycle is sometimes called the “death cycle” in economic terms. It is a cycle where economic contraction leads to further economic contraction. The process of breaking this cycle is simple, the entire economic engine must “unwind” sufficiently to remove/reduce the overextended valuation and “fluff” within the system. Once this has happened, then a new economic foundation will begin to establish where growth and opportunity will resume within local and regional economies. Now, let’s look at some of the data that supports our research. The World Uncertainty Index has recently skyrocketed above 50, the highest level over the past 60+ years. Since the low point, in 1985, the World Uncertainty Index has continued to rise with higher peaks and higher troughs over the past 30+ years. Currently, this index suggests there is a massive amount of uncertainty throughout the globe related to economic function, central banks, geopolitical issues, and humanitarian issues. Bay very close attention to the peaks in this index and the dates of these peaks (2004, 2013, 2020). The 2004 and 2013 peaks occurred roughly 3 to 4 years after a major stock market bottom setup. The current index high would suggest a market bottom may have set up in 2016 and a peak in this Uncertainty index may still be 12 to 24 months away. This suggests we may still experience a moderately high degree of uncertainty and a number of unknown global and economic crisis events over the next 12 to 24 months. The US Federal Reserve has recently begun another massive quantitative easing phase and actively begun to purchase various forms of debt, bonds, and equity within the financial markets. Paying attention to the rallies in the Fed buying activity and the World Uncertainty Index, you’ll see the peaks in the Uncertainty index align with the midpoints of the Fed activities. Generally, the uncertainty levels rise as the US Fed intervenes and executes QE policies to support the global markets. This Global Commodity Price Index chart highlights the recent collapse in raw commodity prices and illustrates the incredibly depressed level of commodities related to global economic activities. Over the past 20 years, the only time when commodity prices were lower was in early 2000~2005 – just after the 9/11 economic contraction. The current Commodity Price Index level suggests we have entered a new deflationary price cycle with the peak setup near August/September 2018 – just before the big downside price contraction started in October 2018. Our researchers have continued to highlight that point on multiple charts as the true peak in the US and global markets At this point in time, developing a safe and protected strategy to ride out these uncertain times is essential. We’ve been advising our clients to stay safely away from the global stock market trends and we issued a Black Swan warning on February 21, 2020, telling all of our clients to “get into cash immediately”. Since then, we’ve advised our clients to move their capital into selected sectors to take advantage of hedging opportunities and targeted trading opportunities over the past 3+ months. We continue to believe the best way to profit from these market trends is to develop a super conservative investment model where Cash is King and proper hedging is essential. There are plenty of great trades to select from – assuming we want to take on the additional risks associated with these trades. We believe the next 3+ months will result in a massive volatility spike, likely seeing the VIX move above 50~60 again, as Q2and Q3 earnings and expectations continue to shock the investment community. We do not believe this potential “V-Shaped” recovery is sustainable and continues to advise our clients to be prepared downside price reversion. Get ourActive ETF Swing Trade Signalsor if you have any type of retirement account and are looking for signals when to own equities, bonds, or cash, be sure to become a member of myPassive Long-Term ETF Investing Signalswhich we are about to issue a new signal for subscribers. For a look at all of today’s economic events, check out oureconomic calendar. Chris VermeulenChief Market StrategiesFounder of Technical Traders Ltd. NOTICE: Our free research does not constitute a trade recommendation or solicitation for our readers to take any action regarding this research. It is provided for educational purposes only. Our research team produces these research articles to share information with our followers/readers in an effort to try to keep you well informed. Thisarticlewas originally posted on FX Empire • S&P 500 Price Forecast – Stock Markets Cotinue to Show Life • AUD/USD Price Forecast – Australian Dollar Continues to Be Choppy • Facebook Testing All-Time High Despite Growing Boycott • GBP/JPY Price Forecast – British Pound Breaks Towards Major Level • Silver Price Daily Forecast – Silver Stays Below $18.50 • BTC Aims At Further Growth \|\| S&P 500 Price Forecast – Stock Markets Cotinue to Show Life: TheS&P 500has pulled back initially during the Globex trading, but as you can see on the daily chart, we have turned around to show signs of strength again as the market seems all but destined to go looking towards the 3200 level. With that in mind, I like the idea of buying dips as they occur, because quite frankly with the Federal Reserve out there doing everything they can to pump out the asset bubble, it is difficult to imagine that stocks will sell off for a meaningful amount of time. Even if we do break down from here, the 3000 level should be rather supportive, as the 50 day EMA is right in that neighborhood as well. Not only is it a large, round, psychologically significant figure, but it is also where we have seen support in the past. With that, I like the idea of buying “hand over fist” in that area if we see some signs of a bounce, assuming that we can even get there. One thing is for sure, the market has been extraordinarily resilient, and it certainly seems as if 3200 is the main focus of the market right now. As long as the Federal Reserve has the back of Wall Street, there is no reason to think that anything is going to change. Even with coronavirus numbers going up, the market seems impervious to anything remotely close to bad news. As my mentor tells me occasionally, “embrace the stupidity.” We simply cannot fight this type of momentum. For a look at all of today’s economic events, check out oureconomic calendar. Thisarticlewas originally posted on FX Empire • Gold Price Forecast – Gold Markets Reach Highs Again • BTC Aims At Further Growth • Natural Gas Price Forecast – Natural Gas Markets Continue Breakout • GBP/JPY Price Forecast – British Pound Breaks Towards Major Level • GBP/USD Price Forecast – British Pound Shows Signs of Strength • Silver Price Daily Forecast – Silver Stays Below $18.50 [Social Media Buzz] None available.	9277.97, 9278.81, 9240.35, 9276.50, 9243.61, 9243.21, 9192.84, 9132.23, 9151.39, 9159.04
Given the historical Bitcoin prices from the last 90 days, predict the next 10 daily closing prices. The historical prices are: 626.32, 622.86, 623.51, 606.72, 608.24, 609.24, 610.68, 607.16, 606.97, 605.98, 609.87, 609.23, 608.31, 597.15, 596.30, 602.84, 602.62, 600.83, 608.04, 606.17, 604.73, 605.69, 609.73, 613.98, 610.89, 612.13, 610.20, 612.51, 613.02, 617.12, 619.11, 616.75, 618.99, 641.07, 636.19, 636.79, 640.38, 638.65, 641.63, 639.19, 637.96, 630.52, 630.86, 632.83, 657.29, 657.07, 653.76, 657.59, 678.30, 688.31, 689.65, 714.48, 701.86, 700.97, 729.79, 740.83, 688.70, 703.23, 703.42, 711.52, 703.13, 709.85, 723.27, 715.53, 716.41, 705.05, 702.03, 705.02, 711.62, 744.20, 740.98, 751.59, 751.62, 731.03, 739.25, 751.35, 744.59, 740.29, 741.65, 735.38, 732.03, 735.81, 735.60, 745.69, 756.77, 777.94, 771.16, 773.87, 758.70, 764.22.	[Bitcoin Technical Analysis for 2016-12-06] Volume: 116218000, RSI (14-day): 60.98, 50-day EMA: 716.46, 200-day EMA: 626.23 [Wider Market Context] Gold Price: 1167.60, Gold RSI: 26.88 Oil Price: 50.93, Oil RSI: 60.66 [Recent News (last 7 days)] UFOMiners Expands its Hardware Selection with Four New Products: Summary: UFOMiners, a Leading Cryptocurrency Mining Manufacture Based in Las Vegas, Just Released Four New High-Performance Products for Unbeatable Prices LAS VEGAS, NV / ACCESSWIRE / December 5, 2016 / When it comes to quality miner hardware development, UFOMiners LLC ( www.UFOMiners.com ) continues to push ahead of the competition. The growing company recently expanded its cost-efficient product offering, demonstrating their commitment to customer service and making high-quality cryptocurrency mining economical and readily available. The four additions to their hardware repertoire include two ethereum miners and two ZCash miners. Each device is unique in its features, offering a variety of hashing algorithms, hashing speeds, and consumption power rates of up to 1650 Watts. Like UFOminers first wave of miners, these four models are equipped with ports for monitor, mouse, and keyboard connection. All products come with a 5-year warranty and function in cascade mode at a connecting capacity of up to 32 devices via 100 Mbps Ethernet LAN. See product list . "Our in-house team of experts have outdone themselves again," says a spokesman of the firm. "The team's vast knowledge of blockchain technologies coupled with an innovative spirit to excel in delivering optimal, low-cost mining solutions to our customers is what brought this new line of products to fruition." The young and ambitious cryptocurrency mining developers at UFOMiners strongly believe in the philosophy of in-house quality production as a way of keeping costs low and making high-performance mining technologies readily available. They are not above offering consumer-friendly promotions and free international shipping to give their customers an exceptional experience. The new hardware, Ethereum RhinoMiner, Ethereum RhinoMiner Prime, ZCash Equinox and ZCash Equinox Prime, are now available for purchase at www.UFOMiners.com , ranging from $3200 to $4900. Company Profile UFOMiners was founded in 2014 on a vision to develop hardware equipment for mining scrypt cryptocurrencies, a project that later expanded to the development of the Bitcoin miner. This Las Vegas-based firm is now a rapidly growing provider of cryptocurrency mining hardware and blockchain-based technologies. UFOMiners currently services up to 1000 private customers as well as dozen businesses. Contact: Ruben Vos [email protected] SOURCE : UFOMiners View comments \|\| UFOMiners Expands its Hardware Selection with Four New Products: Summary: UFOMiners, a Leading Cryptocurrency Mining Manufacture Based in Las Vegas, Just Released Four New High-Performance Products for Unbeatable Prices LAS VEGAS, NV / ACCESSWIRE / December 5, 2016 / When it comes to quality miner hardware development, UFOMiners LLC ( www.UFOMiners.com ) continues to push ahead of the competition. The growing company recently expanded its cost-efficient product offering, demonstrating their commitment to customer service and making high-quality cryptocurrency mining economical and readily available. The four additions to their hardware repertoire include two ethereum miners and two ZCash miners. Each device is unique in its features, offering a variety of hashing algorithms, hashing speeds, and consumption power rates of up to 1650 Watts. Like UFOminers first wave of miners, these four models are equipped with ports for monitor, mouse, and keyboard connection. All products come with a 5-year warranty and function in cascade mode at a connecting capacity of up to 32 devices via 100 Mbps Ethernet LAN. See product list . "Our in-house team of experts have outdone themselves again," says a spokesman of the firm. "The team's vast knowledge of blockchain technologies coupled with an innovative spirit to excel in delivering optimal, low-cost mining solutions to our customers is what brought this new line of products to fruition." The young and ambitious cryptocurrency mining developers at UFOMiners strongly believe in the philosophy of in-house quality production as a way of keeping costs low and making high-performance mining technologies readily available. They are not above offering consumer-friendly promotions and free international shipping to give their customers an exceptional experience. The new hardware, Ethereum RhinoMiner, Ethereum RhinoMiner Prime, ZCash Equinox and ZCash Equinox Prime, are now available for purchase at www.UFOMiners.com , ranging from $3200 to $4900. Company Profile UFOMiners was founded in 2014 on a vision to develop hardware equipment for mining scrypt cryptocurrencies, a project that later expanded to the development of the Bitcoin miner. This Las Vegas-based firm is now a rapidly growing provider of cryptocurrency mining hardware and blockchain-based technologies. UFOMiners currently services up to 1000 private customers as well as dozen businesses. Contact: Ruben Vos [email protected] SOURCE : UFOMiners View comments \|\| A 26-year old Bitcoin entrepreneur was handed prison time, and the experience only confirmed his belief in the cryptocurrency: (Wikimedia) The rise of 26-year old Charlie Shrem was swift. So was his fall. The self-professed computer geek turned divisive digital currency entrepreneur won notoriety as the founder of BitInstant. The firm took off, attracting investors like theWinklevoss twins, and helping popularize bitcoin. Then, his whole world came crashing down. He was charged with operating an unlicensed money transmitting business. He pled guilty, and was given prison time. He had "knowingly transmitted money intended to facilitate criminal activity– specifically, drug trafficking on Silk Road," according to apress release by the United States Attorney's Office, Southern District of New York. Shrem got of prison earlier this year, and his experience there hasn't deterred his faith in bitcoin and blockchain, the technology behind it. In fact, an incident with a prison guard andmackerels, the currency of choice in prison, only confirmed his belief in an alternative currency system. Shrem opened up about his prison experience and his past onWall and Broadcast, apodcast hosted byTABB Group COO Alex Tabb, TABBForumproducerAnna StumpfandVested CEO Dan Simon. Raised in a deeply religious orthodox Jewish household, Shrem describes himself as an "outcast" at Yeshiva high school. "I just loved computers," he said in the podcast. "I would hang out in the internet chat rooms and all of the places where all socially awkward people hang out." Shrem first heard about the concept of Bitcoin from a friend in an internet forum he was a part of. "There was no website or anything," he said in the podcast. "Only a white paper," referring to the research paper released under the pseudonym Satoshi Nakimoto that unveiled the concept. Bitcoin is a digital currency in which transactions occur peer-to-peer, meaning no government or third party is involved.Shrem was immediately interested and purchased a few thousand bitcoin - at the time worth very little. (Flickr/Kosala Bandara)He caught the entrepreneurial bug early, foundingDaily Checkout, adaily dealwebsite that sold refurbished used goods, at 18. He also attended night school at Brooklyn College and got introduced to the Austrian School of Economics, an economic theory that promotes laissez-faire ideals and the elimination of government intervention. In his mind, something clicked. "I realized that bitcoin was taking all of that Austrian economic theory and putting it into practice," he said in the podcast. It was on Bitcointalk.org that he got the idea for a way to make the purchasing of bitcoin faster and more accessible to the every day consumer. He launchedBitInstant, which partnered with payment processors that had physical locations at CVS, Duane Reade, Walmart, Walgreens and 7-11, among others. The site allowed people to buy small amounts of bitcoin (with an average ticket size of $300-500) and charged customers a small fee for each transaction. "Within a few months, we enabled people to be able to buy bitcoin at almost a million locations in the US," Shrem said in the podcast. "And overnight volume exploded." The company achieved an average growth rate of 1.5x per month, according to Shrem, with advertising limited to word of mouth.At one point, the company was facilitating transactions worth a million dollars a day, he said. The growth of BitInstant attracted investors like theWinklevoss twinsand angel investor Roger Vere. They moved into bigger offices, shrouded in secrecy. "We needed an army security guard, our own floor, and shaded windows," he said. Soon the two man band become a 30 person office, and he admits in the podcast interview that he let the success get to his head. ( Entrepreneurs Tyler and Cameron Winklevoss arrive at the Met Gala in New York Thomson Reuters)"I started drinking too much," he said. "I invested in my friend's nightclub. In fact, I lived upstairs in the nightclub." The fall of BitInstant was just as quick as its rise. In March 2013, regulators enforced a ruling that outlined what type of companies were now considered money transmitters. Suddenly, BitInstant was operating without a license. "We couldn't take the risk of operating illegally," Shrem said in the podcast, "so we shut down...It was heartbreaking." Eight months later, Shrem travelled to Amsterdam to speak at a conference. It was when he returned toJFK airport that he was confronted by a dozen law enforcement officials, a joint task force of the FBI, IRS, DEA and other officials, he said in the podcast. Shrem had knowinglyfacilitated transactions to a re-seller, Robert Faiella, whose customers were using the Silk Road, an underground bitcoin only marketplace where people buy and sell illegal drugs. The re-seller was also trying to deposit more money than the new money transmitter laws allowed for, and these transactions were done behind the scenes to get around reporting requirements. On September 4 2014, Faiella and Shrem both pled guilty in connection with the sale of approximately $1 million in bitcoins for use on the Silk Road website. “Robert Faiella and Charlie Shrem opted to travel down a crooked path – running an illegal money transmitting business that catered to criminals bent on trafficking narcotics on the dark web drug site, Silk Road," Prett Bharara,United States Attorney for the Southern District of New York, said in a statement at the time. Shrem, who was also Chief Compliance Officer of BitInstant and thus in charge of compliance with federal anti-money laundering (AML) laws, was fully aware that Silk Road was a drug-trafficking website andthat he was operating a Bitcoin exchange service for Silk Road users. Nevertheless, he "knowingly facilitated Faiella’s business with the company in order to maintain Faiella's business as a lucrative source of revenue, " according to the court report. "Even though it was Shrem’s job to enforce the Company’s AML restrictions...[he] failed to file a single suspicious activity report with the US Treasury Department about Faiella's illicit activity...and deliberately helped Failla circumvent the Company’s AML restrictions." Shrem knew what he was doing, he said in the podcast, and he admits his guilt. Prison "was no country club, but it wasn't Rikers Island either," he explained in the podcast. One out of every ten prisoners were white collar criminals - a state senator, a judge, and a few law enforcement officials were among his group. They were all nonviolent offenders so the fear wasn't as great as in maximum security persons. That's not to say it was easy settling in. "Everything here is word of mouth," he said in the podcast. "There is no Google, information is trickling in. I think the hardest part is learning to use my own resources to grow, and not the internet." On the outside, he had this Bitcoin celebrity status, he said, and in the prison, nobody knew him nor did they care about him. "I needed to humble myself." Of particular fascination to Shrem was the prison currency system, which involved bartering mackerels. According to anarticle in the Wall Street Journal, there hasbeen a mackerel economy in federal prisons since about 2004, when federal prisons prohibited smoking and, by default, the cigarette pack, which was the earlier gold standard. Prisoners need a proxy for thedollar because they're not allowed to possess cash. Every inmate can only buy 14 mackerels per week, said Shrem, so there is a certain number in circulation in the prison. Also, not all mackerels are created equal. The fish expire after about 3 years, after which their value depreciates. Expired mackerels, referred to as "money macks," retain 75% of the value of the "eating macks," or non-expired fish, explained Shrem. There were currency exchanges between the two, and everything had two prices in the prison. (Wikimedia Commons) One day, a large number of mackerels were confiscated by prison guards and left out for any prisoner to take. Overnight, the guards essentially introduced hyperinflation, said Shrem, and flooded the market. They lost all of their value. This got Shrem thinking. He started to think about the value of digitizing the prison economy and putting it on theblockchain. If there was a shared, distributed ledger among say adozen inmates, everyone would have a real-time record of all transactions that occurred in the prison. All members would have to verify and validate a transaction to make sure it was legitimate before taking place. "Everyone has a financial incentive to make sure the system maintains its integrity," said Shrem. The experience reminded him of how blockchain could not only be useful, but also necessary - not only in the financial services world, but in the prison world. "Itavoids the guards having power over the value of the mackerel. Shrem's belief in the power of the bitcoin blockchain and the elimination of the middleman continues. He sees the digital currency as a "great equalizer" and believes that bitcoin will do to money what email did to the postal service. "It will allow everyone to be equal." Despite Shrem's optimism, the hype around Bitcoin seems to have died down from initial levels. Now, the investment and the excitementseems to be focused on theblockchain, the technology behind bitcoin. Digital currencies have also been challenged by recent security issues.In August, hackers stole $72 million worth of bitcoin from accounts at the Hong Kong cryptocurrency exchange Bitfinex. And in June, hackers stole $55 million worth of ether, a bitcoin rival. The nonprofit that runs ether, Ethereum Foundation, just rolled back the chain. It's as if the hack never took place, and business returned to normal. But that worries purists like Shrem. He continues to be a staunch believer in the integrity of the blockchain and denounces Ethererum's decision to roll back the chain, even though he said he is friends with the founder."Once you change the ledger for one specific reason, then you've already set the precedent." "I used to be a bitcoin maximalist, thinking bitcoin is the one and only blockchain," he said to Wall & Broadcast. "Now I believe that alternate chains can and do exist." NOW WATCH:A Harvard business professor explains a legal form of 'insider trading' in America More From Business Insider • Deloitte is launching a blockchain lab in Dublin • The CEO of one of China's largest biggest bitcoin exchanges says regulation is inevitable • Here's why the Chinese love bitcoin \|\| A 26-year old Bitcoin entrepreneur was handed prison time, and the experience only confirmed his belief in the cryptocurrency: charlie shrem (Wikimedia) The rise of 26-year old Charlie Shrem was swift. So was his fall. The self-professed computer geek turned divisive digital currency entrepreneur won notoriety as the founder of BitInstant. The firm took off, attracting investors like the Winklevoss twins , and helping popularize bitcoin. Then, his whole world came crashing down. He was charged with operating an unlicensed money transmitting business. He pled guilty, and was given prison time. He had "knowingly transmitted money intended to facilitate criminal activity – specifically, drug trafficking on Silk Road," according to a press release by the United States Attorney's Office, Southern District of New York . Shrem got of prison earlier this year, and his experience there hasn't deterred his faith in bitcoin and blockchain, the technology behind it. In fact, an incident with a prison guard and mackerels, the currency of choice in prison, only confirmed his belief in an alternative currency system. A computer geek Shrem opened up about his prison experience and his past on Wall and Broadcast , a podcast hosted by TABB Group COO Alex Tabb, TABBForum producer Anna Stumpf and Vested CEO Dan Simon. Raised in a deeply religious orthodox Jewish household, Shrem describes himself as an "outcast" at Yeshiva high school. "I just loved computers," he said in the podcast. "I would hang out in the internet chat rooms and all of the places where all socially awkward people hang out." Shrem first heard about the concept of Bitcoin from a friend in an internet forum he was a part of. "There was no website or anything," he said in the podcast. "Only a white paper," referring to the research paper released under the pseudonym Satoshi Nakimoto that unveiled the concept. Bitcoin is a digital currency in which transactions occur peer-to-peer, meaning no government or third party is involved. Shrem was immediately interested and purchased a few thousand bitcoin - at the time worth very little. Story continues Austrian parliament (Flickr/Kosala Bandara) He caught the entrepreneurial bug early, founding Daily Checkout, a daily deal website that sold refurbished used goods, at 18. He also attended night school at Brooklyn College and got introduced to the Austrian School of Economics, an economic theory that promotes laissez-faire ideals and the elimination of government intervention. In his mind, something clicked. "I realized that bitcoin was taking all of that Austrian economic theory and putting it into practice," he said in the podcast. It was on Bitcointalk.org that he got the idea for a way to make the purchasing of bitcoin faster and more accessible to the every day consumer. He launched BitInstant, which partnered with payment processors that had physical locations at CVS, Duane Reade, Walmart, Walgreens and 7-11, among others. The site allowed people to buy small amounts of bitcoin (with an average ticket size of $300-500) and charged customers a small fee for each transaction. "Within a few months, we enabled people to be able to buy bitcoin at almost a million locations in the US," Shrem said in the podcast. "And overnight volume exploded." The company achieved an average growth rate of 1.5x per month, according to Shrem, with advertising limited to word of mouth. At one point, the company was facilitating transactions worth a million dollars a day, he said. The growth of BitInstant attracted investors like the Winklevoss twins and angel investor Roger Vere. They moved into bigger offices, shrouded in secrecy. " We needed an army security guard, our own floor, and shaded windows," he said. Soon the two man band become a 30 person office, and he admits in the podcast interview that he let the success get to his head. Entrepeneurs Tyler and Cameron Winklevoss arrive at the Metropolitan Museum of Art Costume Institute Gala (Met Gala) to celebrate the opening of ( Entrepreneurs Tyler and Cameron Winklevoss arrive at the Met Gala in New York Thomson Reuters) "I started drinking too much," he said. "I invested in my friend's nightclub. In fact, I lived upstairs in the nightclub." The fall of BitInstant was just as quick as its rise. The fall of BitInstant In March 2013, regulators enforced a ruling that outlined what type of companies were now considered money transmitters. Suddenly, BitInstant was operating without a license. "We couldn't take the risk of operating illegally," Shrem said in the podcast, "so we shut down...It was heartbreaking." Eight months later, Shrem travelled to Amsterdam to speak at a conference. It was when he returned to JFK airport that he was confronted by a dozen law enforcement officials, a joint task force of the FBI, IRS, DEA and other officials, he said in the podcast. Shrem had knowingly facilitated transactions to a re-seller, Robert Faiella, whose customers were using the Silk Road, an underground bitcoin only marketplace where people buy and sell illegal drugs. The re-seller was also trying to deposit more money than the new money transmitter laws allowed for, and these transactions were done behind the scenes to get around reporting requirements. On September 4 2014, Faiella and Shrem both pled guilty in connection with the sale of approximately $1 million in bitcoins for use on the Silk Road website. “Robert Faiella and Charlie Shrem opted to travel down a crooked path – running an illegal money transmitting business that catered to criminals bent on trafficking narcotics on the dark web drug site, Silk Road," Prett Bharara, United States Attorney for the Southern District of New York, said in a statement at the time. Shrem, who was also Chief Compliance Officer of BitInstant and thus in charge of compliance with federal anti-money laundering (AML) laws, was fully aware that Silk Road was a drug-trafficking website and that he was operating a Bitcoin exchange service for Silk Road users. Nevertheless, he "knowingly facilitated Faiella’s business with the company in order to maintain Faiella's business as a lucrative source of revenue, " according to the court report. "Even though it was Shrem’s job to enforce the Company’s AML restrictions...[he] failed to file a single suspicious activity report with the US Treasury Department about Faiella's illicit activity...and deliberately helped Failla circumvent the Company’s AML restrictions." Shrem knew what he was doing, he said in the podcast, and he admits his guilt. (Forsaken Fotos/flickr) Digitizing the Prison Economy Prison "was no country club, but it wasn't Rikers Island either," he explained in the podcast. One out of every ten prisoners were white collar criminals - a state senator, a judge, and a few law enforcement officials were among his group. They were all nonviolent offenders so the fear wasn't as great as in maximum security persons. That's not to say it was easy settling in. "Everything here is word of mouth," he said in the podcast. "There is no Google, information is trickling in. I think the hardest part is learning to use my own resources to grow, and not the internet." On the outside, he had this Bitcoin celebrity status, he said, and in the prison, nobody knew him nor did they care about him. "I needed to humble myself." Of particular fascination to Shrem was the prison currency system, which involved bartering mackerels. According to an article in the Wall Street Journal , there has been a mackerel economy in federal prisons since about 2004, when federal prisons prohibited smoking and, by default, the cigarette pack, which was the earlier gold standard. Prisoners need a proxy for the dollar because they're not allowed to possess cash. Every inmate can only buy 14 mackerels per week, said Shrem, so there is a certain number in circulation in the prison. Also, not all mackerels are created equal. The fish expire after about 3 years, after which their value depreciates. Expired mackerels, referred to as "money macks," retain 75% of the value of the "eating macks," or non-expired fish, explained Shrem. There were currency exchanges between the two, and everything had two prices in the prison. mackerel fish (Wikimedia Commons) One day, a large number of mackerels were confiscated by prison guards and left out for any prisoner to take. Overnight, the guards essentially introduced hyperinflation, said Shrem, and flooded the market. They lost all of their value. This got Shrem thinking. He started to think about the value of digitizing the prison economy and putting it on the blockchain. If there was a shared, distributed ledger among say a dozen inmates, everyone would have a real-time record of all transactions that occurred in the prison. All members would have to verify and validate a transaction to make sure it was legitimate before taking place. "Everyone has a financial incentive to make sure the system maintains its integrity," said Shrem. The experience reminded him of how blockchain could not only be useful, but also necessary - not only in the financial services world, but in the prison world. "It avoids the guards having power over the value of the mackerel. Shrem's belief in the power of the bitcoin blockchain and the elimination of the middleman continues. He sees the digital currency as a "great equalizer" and believes that b itcoin will do to money what email did to the postal service. "It will allow everyone to be equal." Despite Shrem's optimism, the hype around Bitcoin seems to have died down from initial levels. Now, the investment and the excitement seems to be focused on the blockchain, the technology behind bitcoin. Digital currencies have also been challenged by recent security issues. In August, hackers stole $72 million worth of bitcoin from accounts at the Hong Kong cryptocurrency exchange Bitfinex. And in June, hackers stole $55 million worth of ether, a bitcoin rival. The nonprofit that runs ether, Ethereum Foundation, just rolled back the chain. It's as if the hack never took place, and business returned to normal. But that worries purists like Shrem. He continues to be a staunch believer in the integrity of the blockchain and denounces Ethererum's decision to roll back the chain, even though he said he is friends with the founder. "Once you change the ledger for one specific reason, then you've already set the precedent." "I used to be a bitcoin maximalist, thinking bitcoin is the one and only blockchain," he said to Wall & Broadcast. "Now I believe that alternate chains can and do exist." NOW WATCH: A Harvard business professor explains a legal form of 'insider trading' in America More From Business Insider Deloitte is launching a blockchain lab in Dublin The CEO of one of China's largest biggest bitcoin exchanges says regulation is inevitable Here's why the Chinese love bitcoin \|\| A 26-year old Bitcoin entrepreneur was handed prison time, and the experience only confirmed his belief in the cryptocurrency: (Wikimedia) The rise of 26-year old Charlie Shrem was swift. So was his fall. The self-professed computer geek turned divisive digital currency entrepreneur won notoriety as the founder of BitInstant. The firm took off, attracting investors like theWinklevoss twins, and helping popularize bitcoin. Then, his whole world came crashing down. He was charged with operating an unlicensed money transmitting business. He pled guilty, and was given prison time. He had "knowingly transmitted money intended to facilitate criminal activity– specifically, drug trafficking on Silk Road," according to apress release by the United States Attorney's Office, Southern District of New York. Shrem got of prison earlier this year, and his experience there hasn't deterred his faith in bitcoin and blockchain, the technology behind it. In fact, an incident with a prison guard andmackerels, the currency of choice in prison, only confirmed his belief in an alternative currency system. Shrem opened up about his prison experience and his past onWall and Broadcast, apodcast hosted byTABB Group COO Alex Tabb, TABBForumproducerAnna StumpfandVested CEO Dan Simon. Raised in a deeply religious orthodox Jewish household, Shrem describes himself as an "outcast" at Yeshiva high school. "I just loved computers," he said in the podcast. "I would hang out in the internet chat rooms and all of the places where all socially awkward people hang out." Shrem first heard about the concept of Bitcoin from a friend in an internet forum he was a part of. "There was no website or anything," he said in the podcast. "Only a white paper," referring to the research paper released under the pseudonym Satoshi Nakimoto that unveiled the concept. Bitcoin is a digital currency in which transactions occur peer-to-peer, meaning no government or third party is involved.Shrem was immediately interested and purchased a few thousand bitcoin - at the time worth very little. (Flickr/Kosala Bandara)He caught the entrepreneurial bug early, foundingDaily Checkout, adaily dealwebsite that sold refurbished used goods, at 18. He also attended night school at Brooklyn College and got introduced to the Austrian School of Economics, an economic theory that promotes laissez-faire ideals and the elimination of government intervention. In his mind, something clicked. "I realized that bitcoin was taking all of that Austrian economic theory and putting it into practice," he said in the podcast. It was on Bitcointalk.org that he got the idea for a way to make the purchasing of bitcoin faster and more accessible to the every day consumer. He launchedBitInstant, which partnered with payment processors that had physical locations at CVS, Duane Reade, Walmart, Walgreens and 7-11, among others. The site allowed people to buy small amounts of bitcoin (with an average ticket size of $300-500) and charged customers a small fee for each transaction. "Within a few months, we enabled people to be able to buy bitcoin at almost a million locations in the US," Shrem said in the podcast. "And overnight volume exploded." The company achieved an average growth rate of 1.5x per month, according to Shrem, with advertising limited to word of mouth.At one point, the company was facilitating transactions worth a million dollars a day, he said. The growth of BitInstant attracted investors like theWinklevoss twinsand angel investor Roger Vere. They moved into bigger offices, shrouded in secrecy. "We needed an army security guard, our own floor, and shaded windows," he said. Soon the two man band become a 30 person office, and he admits in the podcast interview that he let the success get to his head. ( Entrepreneurs Tyler and Cameron Winklevoss arrive at the Met Gala in New York Thomson Reuters)"I started drinking too much," he said. "I invested in my friend's nightclub. In fact, I lived upstairs in the nightclub." The fall of BitInstant was just as quick as its rise. In March 2013, regulators enforced a ruling that outlined what type of companies were now considered money transmitters. Suddenly, BitInstant was operating without a license. "We couldn't take the risk of operating illegally," Shrem said in the podcast, "so we shut down...It was heartbreaking." Eight months later, Shrem travelled to Amsterdam to speak at a conference. It was when he returned toJFK airport that he was confronted by a dozen law enforcement officials, a joint task force of the FBI, IRS, DEA and other officials, he said in the podcast. Shrem had knowinglyfacilitated transactions to a re-seller, Robert Faiella, whose customers were using the Silk Road, an underground bitcoin only marketplace where people buy and sell illegal drugs. The re-seller was also trying to deposit more money than the new money transmitter laws allowed for, and these transactions were done behind the scenes to get around reporting requirements. On September 4 2014, Faiella and Shrem both pled guilty in connection with the sale of approximately $1 million in bitcoins for use on the Silk Road website. “Robert Faiella and Charlie Shrem opted to travel down a crooked path – running an illegal money transmitting business that catered to criminals bent on trafficking narcotics on the dark web drug site, Silk Road," Prett Bharara,United States Attorney for the Southern District of New York, said in a statement at the time. Shrem, who was also Chief Compliance Officer of BitInstant and thus in charge of compliance with federal anti-money laundering (AML) laws, was fully aware that Silk Road was a drug-trafficking website andthat he was operating a Bitcoin exchange service for Silk Road users. Nevertheless, he "knowingly facilitated Faiella’s business with the company in order to maintain Faiella's business as a lucrative source of revenue, " according to the court report. "Even though it was Shrem’s job to enforce the Company’s AML restrictions...[he] failed to file a single suspicious activity report with the US Treasury Department about Faiella's illicit activity...and deliberately helped Failla circumvent the Company’s AML restrictions." Shrem knew what he was doing, he said in the podcast, and he admits his guilt. Prison "was no country club, but it wasn't Rikers Island either," he explained in the podcast. One out of every ten prisoners were white collar criminals - a state senator, a judge, and a few law enforcement officials were among his group. They were all nonviolent offenders so the fear wasn't as great as in maximum security persons. That's not to say it was easy settling in. "Everything here is word of mouth," he said in the podcast. "There is no Google, information is trickling in. I think the hardest part is learning to use my own resources to grow, and not the internet." On the outside, he had this Bitcoin celebrity status, he said, and in the prison, nobody knew him nor did they care about him. "I needed to humble myself." Of particular fascination to Shrem was the prison currency system, which involved bartering mackerels. According to anarticle in the Wall Street Journal, there hasbeen a mackerel economy in federal prisons since about 2004, when federal prisons prohibited smoking and, by default, the cigarette pack, which was the earlier gold standard. Prisoners need a proxy for thedollar because they're not allowed to possess cash. Every inmate can only buy 14 mackerels per week, said Shrem, so there is a certain number in circulation in the prison. Also, not all mackerels are created equal. The fish expire after about 3 years, after which their value depreciates. Expired mackerels, referred to as "money macks," retain 75% of the value of the "eating macks," or non-expired fish, explained Shrem. There were currency exchanges between the two, and everything had two prices in the prison. (Wikimedia Commons) One day, a large number of mackerels were confiscated by prison guards and left out for any prisoner to take. Overnight, the guards essentially introduced hyperinflation, said Shrem, and flooded the market. They lost all of their value. This got Shrem thinking. He started to think about the value of digitizing the prison economy and putting it on theblockchain. If there was a shared, distributed ledger among say adozen inmates, everyone would have a real-time record of all transactions that occurred in the prison. All members would have to verify and validate a transaction to make sure it was legitimate before taking place. "Everyone has a financial incentive to make sure the system maintains its integrity," said Shrem. The experience reminded him of how blockchain could not only be useful, but also necessary - not only in the financial services world, but in the prison world. "Itavoids the guards having power over the value of the mackerel. Shrem's belief in the power of the bitcoin blockchain and the elimination of the middleman continues. He sees the digital currency as a "great equalizer" and believes that bitcoin will do to money what email did to the postal service. "It will allow everyone to be equal." Despite Shrem's optimism, the hype around Bitcoin seems to have died down from initial levels. Now, the investment and the excitementseems to be focused on theblockchain, the technology behind bitcoin. Digital currencies have also been challenged by recent security issues.In August, hackers stole $72 million worth of bitcoin from accounts at the Hong Kong cryptocurrency exchange Bitfinex. And in June, hackers stole $55 million worth of ether, a bitcoin rival. The nonprofit that runs ether, Ethereum Foundation, just rolled back the chain. It's as if the hack never took place, and business returned to normal. But that worries purists like Shrem. He continues to be a staunch believer in the integrity of the blockchain and denounces Ethererum's decision to roll back the chain, even though he said he is friends with the founder."Once you change the ledger for one specific reason, then you've already set the precedent." "I used to be a bitcoin maximalist, thinking bitcoin is the one and only blockchain," he said to Wall & Broadcast. "Now I believe that alternate chains can and do exist." NOW WATCH:A Harvard business professor explains a legal form of 'insider trading' in America More From Business Insider • Deloitte is launching a blockchain lab in Dublin • The CEO of one of China's largest biggest bitcoin exchanges says regulation is inevitable • Here's why the Chinese love bitcoin \|\| Traders debate whether tech stocks will continue to fall: The " Fast Money " traders debated Friday whether its time to start buying opportunities in technology stocks. The Technology Select Sector SPDR Fund (NYSE Arca: XLK) fell more than 2 percent in the past week, as stocks that have made huge gains this year got pummeled. For example, Nvidia ( NVDA ) shares fell 6 percent this week, but are still up a stunning 168 percent so far in 2016. The stronger dollar and rotation into financials and materials aren't the only things plaguing the technology sector, trader Guy Adami said. He argued that in a rising interest rate environment, the "need to own stocks with dividend yields have gone down and a lot of these tech stocks have great yields." While the sector may continue to sell off for the next couple weeks, Adami said that there are interesting opportunities in the space. He said Cisco ( CSCO ) would be "extraordinarily interesting" if it falls to $27.50. Adami said he would also be interested in similar moves in Nvidia and Intel ( INTC ) . Trader Brian Kelly said investors should look at stocks with growth opportunity like Microsoft ( MSFT ) . He said that company also has a lot of cash overseas and could benefit if Donald Trump pushes for reform, allowing for repatriation of foreign earnings. Kelly said he is also interested in Google parent Alphabet ( GOOGL ) . Trader David Seaburg said that he likes Facebook ( FB ) because "it's trading at the cheapest [price-to-earnings ratio] it has since its IPO, 20 times next year's earnings." He said that "it's a stock that should be bought here." Trader Steve Grasso said that "Amazon ( AMZN ) is where you want to be because Amazon is going to have the growth." Disclosures: STEVE GRASSO Steve Grasso is long: BA, CC, CHK, EEM, EVGN, GDX, KBH, MJNA, MON, MU, OLN, PFE, PHM, SPY, SQ, T, TWTR. Grasso's children own: EFA, EFG, EWJ, IJR, SPY. No shorts. Grasso's firm is long: VIRT, WDR, FCX, ICE, KDUS, MAT, MJNA, NE, OLN, RIG, TAXI, TITXF, WDR, ZNGA, CUBA, HSPO, ICE, MJNA, TITXF. DAVID SEABURG Opinions expressed by David Seaburg are solely his own and do not reflect the views and opinions of Cowen Group, Inc. David Seaburg and Cowen have a financial interest in EDIT. Diamond Offshore: an employee of Cowen and Company, LLC serves on the Board of Directors of Diamond Offshore. EXPE, VA Not Approved. BRIAN KELLY Brian Kelly is long Bitcoin, U.S. West Texas Intermediate crude futures, CLR, silver futures, GDX, SLV. GUY ADAMI Guy Adami is long CELG, EXAS, GDX, INTC. Adami's wife, Linda Snow, works at Merck. More From CNBC Your first trade for Friday, February 24 Chip wreck ahead? The downgrade that wrecked chips View comments \|\| Traders debate whether tech stocks will continue to fall: The "Fast Money" traders debated Friday whether its time to start buying opportunities in technology stocks. The Technology Select Sector SPDR Fund(NYSE Arca: XLK)fell more than 2 percent in the past week, as stocks that have made huge gains this year got pummeled. For example, Nvidia(NVDA)shares fell 6 percent this week, but are still up a stunning 168 percent so far in 2016. The stronger dollar and rotation into financials and materials aren't the only things plaguing the technology sector, trader Guy Adami said. He argued that in a rising interest rate environment, the "need to own stocks with dividend yields have gone down and a lot of these tech stocks have great yields." While the sector may continue to sell off for the next couple weeks, Adami said that there are interesting opportunities in the space. He said Cisco(CSCO)would be "extraordinarily interesting" if it falls to $27.50. Adami said he would also be interested in similar moves in Nvidia and Intel(INTC). Trader Brian Kelly said investors should look at stocks with growth opportunity like Microsoft(MSFT). He said that company also has a lot of cash overseas and could benefit if Donald Trump pushes for reform, allowing for repatriation of foreign earnings. Kelly said he is also interested in Google parent Alphabet(GOOGL). Trader David Seaburg said that he likes Facebook(FB)because "it's trading at the cheapest [price-to-earnings ratio] it has since its IPO, 20 times next year's earnings." He said that "it's a stock that should be bought here." Trader Steve Grasso said that "Amazon(AMZN)is where you want to be because Amazon is going to have the growth." Disclosures: STEVE GRASSO Steve Grasso is long: BA, CC, CHK, EEM, EVGN, GDX, KBH, MJNA, MON, MU, OLN, PFE, PHM, SPY, SQ, T, TWTR. Grasso's children own: EFA, EFG, EWJ, IJR, SPY. No shorts.Grasso's firm is long: VIRT, WDR, FCX, ICE, KDUS, MAT, MJNA, NE, OLN, RIG, TAXI, TITXF, WDR, ZNGA, CUBA, HSPO, ICE, MJNA, TITXF. DAVID SEABURG Opinions expressed by David Seaburg are solely his own and do not reflect the views and opinions of Cowen Group, Inc. David Seaburg and Cowen have a financial interest in EDIT. Diamond Offshore: an employee of Cowen and Company, LLC serves on the Board of Directors of Diamond Offshore. EXPE, VA – Not Approved. BRIAN KELLY Brian Kelly is long Bitcoin, U.S. West Texas Intermediate crude futures, CLR, silver futures, GDX, SLV. GUY ADAMI Guy Adami is long CELG, EXAS, GDX, INTC. Adami's wife, Linda Snow, works at Merck. More From CNBC • Your first trade for Friday, February 24 • Chip wreck ahead? • The downgrade that wrecked chips \|\| First Bitcoin Capital Acquires Large Stake in One of the Oldest Mineable Cryptocoins Ranked High on Coin Market Cap; Also, Company’s Digital Shares Are Now Listed on Two International Cryptocurrency Exchanges: VANCOUVER, BC / ACCESSWIRE / November 30, 2016 / First Bitcoin Capital Corp. ( BITCF ) is pleased to announce that it has sold its Venezuela mining concessions for a large stake in the cryptocurrency of one of the oldest mineable coins that ranks high on Coin Market Cap. See: http://coinmarketcap.com/currencies/kilocoin/ . Kilocoin which is similar to Litecoin primarily trades on a popular cryptocurrency exchange at https://c-cex.com/?p=klc-btc A list of its nodes can be found via https://c-cex.com/?id=ws&shownodes=klc Kilocoin mining can be tracked at https://www.blockexperts.com/klc# From its web site via http://kilocoin.com/ their wallet can be downloaded. At its current rate of mining (159 coins per block) it should take centuries to reach the maximum of 25,000,000,000 mineable coins with a little over 10,000,000,000 coins mine thus far, giving BITCF nearly 10% participation. The Company anticipates that the KLC exchange will boost BITCF's balance sheet with tremendous upside potential and may become a source of future dividends. Differences from Bitcoin and Litecoin and Kilocoin Bitcoin Litecoin Kilocoin Coin limit 21 Million 84 Million 25 Billion Algorithm SHA-256 Scrypt Scrypt Mean block time 10 minutes 2.5 minutes 5 minutes Difficulty Target 2016 Block 2016 Blocks 288 Blocks Initial Reward 50 BTC 50 LTC 159 KLC Current block reward 25 BTC 50 LTC 159 LTC Block explorer blockchain.info block-explorer.com https://www.blockexperts.com/klc# Created by Satoshi Nakamoto Charles Lee Kilocoin, Inc (DAC) Creation date January 3, 2009 October 7, 2011 Feb 27th, 2014 Coins Mined (as of 8 April 2015) 14,029,116.67 37,984,800 10,013,105,152 Furthermore, in conjunction with BITCF's expanding ownership of its common shares onto its own blockchain (BIT) and trading on foreign international cryptocurrency exchanges, the company is proud to announce that its digital shares are now trading on an additional, popular cryptocurrency exchange, LIVECOIN www.livecoin.net . Story continues About the company: First Bitcoin Capital is engaged in developing digital currencies, proprietary Blockchain technologies, and the digital currency exchange- www.CoinQX.com . We see this step as a tremendous opportunity to create further shareholder value by leveraging management's experience in developing and managing complex Blockchain technologies, developing new types of digital assets. "Being the first publicly-traded cryptocurrency and blockchain-centered company (with shares both traded in the US OTC Markets as [BITCF] and as [BIT] in crypto exchanges) we want to provide our shareholders with diversified exposure to digital cryptocurrencies and blockchain technologies." At this time the Company owns and operates the following digital assets. www.BITCoinCapitalcorp.com company website. www.CoinQX.com Cryptocurrency Exchange, registered with FINCEN. www.iCoiNEWS.com real time cryptocurrency and bitcoin news site. www.BITminer.cc providing mining pool management services. www.2016coin.org online daily election coverage and home page for $PRES, $HILL and $GARY $BURN coins. Forward-Looking Statements Certain statements contained in this press release may constitute "forward-looking statements." Forward-looking statements provide current expectations of future events based on certain assumptions and include any statement that does not directly relate to any historical or current fact. Actual results may differ materially from those indicated by such forward-looking statements as a result of various important factors as may be disclosed in company's filings. In addition to these factors, actual future performance, outcomes, and results may differ materially because of more general factors including (without limitation) general industry and market conditions and growth rates, economic conditions, and governmental and public policy changes. The forward-looking statements included in this press release represent the Company's views as of the date of this press release and these views could change. However, while the Company may elect to update these forward-looking statements at some point in the future, the Company specifically disclaims any obligation to do so. These forward-looking statements should not be relied upon as representing the Company's views as of any date subsequent to the date of the press release. Such forward-looking statements are risks that are detailed in the Company's filings, which are on file at www.OTCMarkets.com . SOURCE: First Bitcoin Capital Corp. \|\| First Bitcoin Capital Acquires Large Stake in One of the Oldest Mineable Cryptocoins Ranked High on Coin Market Cap; Also, Company’s Digital Shares Are Now Listed on Two International Cryptocurrency Exchanges: VANCOUVER, BC / ACCESSWIRE / November 30, 2016 /First Bitcoin Capital Corp. (BITCF) is pleased to announce that it has sold its Venezuela mining concessions for a large stake in the cryptocurrency of one of the oldest mineable coins that ranks high on Coin Market Cap. See:http://coinmarketcap.com/currencies/kilocoin/. Kilocoin which is similar to Litecoin primarily trades on a popular cryptocurrency exchange athttps://c-cex.com/?p=klc-btc A list of its nodes can be found viahttps://c-cex.com/?id=ws&shownodes=klc Kilocoin mining can be tracked athttps://www.blockexperts.com/klc# From its web site viahttp://kilocoin.com/their wallet can be downloaded. At its current rate of mining (159 coins per block) it should take centuries to reach the maximum of 25,000,000,000 mineable coins with a little over 10,000,000,000 coins mine thus far, giving BITCF nearly 10% participation. The Company anticipates that the KLC exchange will boost BITCF's balance sheet with tremendous upside potential and may become a source of future dividends. Differences from Bitcoin and Litecoin and Kilocoin [{"": "Coin limit", "Bitcoin": "21 Million", "Litecoin": "84 Million", "Kilocoin": "25 Billion"}, {"": "Algorithm", "Bitcoin": "SHA-256", "Litecoin": "Scrypt", "Kilocoin": "Scrypt"}, {"": "Mean block time", "Bitcoin": "10 minutes", "Litecoin": "2.5 minutes", "Kilocoin": "5 minutes"}, {"": "Difficulty Target", "Bitcoin": "2016 Block", "Litecoin": "2016 Blocks", "Kilocoin": "288 Blocks"}, {"": "Initial Reward", "Bitcoin": "50 BTC", "Litecoin": "50 LTC", "Kilocoin": "159 KLC"}, {"": "Current block reward", "Bitcoin": "25 BTC", "Litecoin": "50 LTC", "Kilocoin": "159 LTC"}, {"": "Block explorer", "Bitcoin": "blockchain.info", "Litecoin": "block-explorer.com", "Kilocoin": "https://www.blockexperts.com/klc#"}, {"": "Created by", "Bitcoin": "Satoshi Nakamoto", "Litecoin": "Charles Lee", "Kilocoin": "Kilocoin, Inc (DAC)"}, {"": "Creation date", "Bitcoin": "January 3, 2009", "Litecoin": "October 7, 2011", "Kilocoin": "Feb 27th, 2014"}, {"": "Coins Mined (as of 8 April 2015)", "Bitcoin": "14,029,116.67", "Litecoin": "37,984,800", "Kilocoin": "10,013,105,152"}] Furthermore, in conjunction with BITCF's expanding ownership of its common shares onto its own blockchain (BIT) and trading on foreign international cryptocurrency exchanges, the company is proud to announce that its digital shares are now trading on an additional, popular cryptocurrency exchange, LIVECOINwww.livecoin.net. About the company: First Bitcoin Capital is engaged in developing digital currencies, proprietary Blockchain technologies, and the digital currency exchange-www.CoinQX.com. We see this step as a tremendous opportunity to create further shareholder value by leveraging management's experience in developing and managing complex Blockchain technologies, developing new types of digital assets. "Being the first publicly-traded cryptocurrency and blockchain-centered company (with shares both traded in the US OTC Markets as [BITCF] and as [BIT] in crypto exchanges) we want to provide our shareholders with diversified exposure to digital cryptocurrencies and blockchain technologies." At this time the Company owns and operates the following digital assets. www.BITCoinCapitalcorp.comcompany website. www.CoinQX.comCryptocurrency Exchange, registered with FINCEN. www.iCoiNEWS.comreal time cryptocurrency and bitcoin news site. www.BITminer.ccproviding mining pool management services. www.2016coin.orgonline daily election coverage and home page for $PRES, $HILL and $GARY $BURN coins. Forward-Looking Statements Certain statements contained in this press release may constitute "forward-looking statements." Forward-looking statements provide current expectations of future events based on certain assumptions and include any statement that does not directly relate to any historical or current fact. Actual results may differ materially from those indicated by such forward-looking statements as a result of various important factors as may be disclosed in company's filings. In addition to these factors, actual future performance, outcomes, and results may differ materially because of more general factors including (without limitation) general industry and market conditions and growth rates, economic conditions, and governmental and public policy changes. The forward-looking statements included in this press release represent the Company's views as of the date of this press release and these views could change. However, while the Company may elect to update these forward-looking statements at some point in the future, the Company specifically disclaims any obligation to do so. These forward-looking statements should not be relied upon as representing the Company's views as of any date subsequent to the date of the press release. Such forward-looking statements are risks that are detailed in the Company's filings, which are on file atwww.OTCMarkets.com. SOURCE:First Bitcoin Capital Corp. \|\| First Bitcoin Capital Acquires Large Stake in One of the Oldest Mineable Cryptocoins Ranked High on Coin Market Cap; Also, Company’s Digital Shares Are Now Listed on Two International Cryptocurrency Exchanges: VANCOUVER, BC / ACCESSWIRE / November 30, 2016 /First Bitcoin Capital Corp. (BITCF) is pleased to announce that it has sold its Venezuela mining concessions for a large stake in the cryptocurrency of one of the oldest mineable coins that ranks high on Coin Market Cap. See:http://coinmarketcap.com/currencies/kilocoin/. Kilocoin which is similar to Litecoin primarily trades on a popular cryptocurrency exchange athttps://c-cex.com/?p=klc-btc A list of its nodes can be found viahttps://c-cex.com/?id=ws&shownodes=klc Kilocoin mining can be tracked athttps://www.blockexperts.com/klc# From its web site viahttp://kilocoin.com/their wallet can be downloaded. At its current rate of mining (159 coins per block) it should take centuries to reach the maximum of 25,000,000,000 mineable coins with a little over 10,000,000,000 coins mine thus far, giving BITCF nearly 10% participation. The Company anticipates that the KLC exchange will boost BITCF's balance sheet with tremendous upside potential and may become a source of future dividends. Differences from Bitcoin and Litecoin and Kilocoin [{"": "Coin limit", "Bitcoin": "21 Million", "Litecoin": "84 Million", "Kilocoin": "25 Billion"}, {"": "Algorithm", "Bitcoin": "SHA-256", "Litecoin": "Scrypt", "Kilocoin": "Scrypt"}, {"": "Mean block time", "Bitcoin": "10 minutes", "Litecoin": "2.5 minutes", "Kilocoin": "5 minutes"}, {"": "Difficulty Target", "Bitcoin": "2016 Block", "Litecoin": "2016 Blocks", "Kilocoin": "288 Blocks"}, {"": "Initial Reward", "Bitcoin": "50 BTC", "Litecoin": "50 LTC", "Kilocoin": "159 KLC"}, {"": "Current block reward", "Bitcoin": "25 BTC", "Litecoin": "50 LTC", "Kilocoin": "159 LTC"}, {"": "Block explorer", "Bitcoin": "blockchain.info", "Litecoin": "block-explorer.com", "Kilocoin": "https://www.blockexperts.com/klc#"}, {"": "Created by", "Bitcoin": "Satoshi Nakamoto", "Litecoin": "Charles Lee", "Kilocoin": "Kilocoin, Inc (DAC)"}, {"": "Creation date", "Bitcoin": "January 3, 2009", "Litecoin": "October 7, 2011", "Kilocoin": "Feb 27th, 2014"}, {"": "Coins Mined (as of 8 April 2015)", "Bitcoin": "14,029,116.67", "Litecoin": "37,984,800", "Kilocoin": "10,013,105,152"}] Furthermore, in conjunction with BITCF's expanding ownership of its common shares onto its own blockchain (BIT) and trading on foreign international cryptocurrency exchanges, the company is proud to announce that its digital shares are now trading on an additional, popular cryptocurrency exchange, LIVECOINwww.livecoin.net. About the company: First Bitcoin Capital is engaged in developing digital currencies, proprietary Blockchain technologies, and the digital currency exchange-www.CoinQX.com. We see this step as a tremendous opportunity to create further shareholder value by leveraging management's experience in developing and managing complex Blockchain technologies, developing new types of digital assets. "Being the first publicly-traded cryptocurrency and blockchain-centered company (with shares both traded in the US OTC Markets as [BITCF] and as [BIT] in crypto exchanges) we want to provide our shareholders with diversified exposure to digital cryptocurrencies and blockchain technologies." At this time the Company owns and operates the following digital assets. www.BITCoinCapitalcorp.comcompany website. www.CoinQX.comCryptocurrency Exchange, registered with FINCEN. www.iCoiNEWS.comreal time cryptocurrency and bitcoin news site. www.BITminer.ccproviding mining pool management services. www.2016coin.orgonline daily election coverage and home page for $PRES, $HILL and $GARY $BURN coins. Forward-Looking Statements Certain statements contained in this press release may constitute "forward-looking statements." Forward-looking statements provide current expectations of future events based on certain assumptions and include any statement that does not directly relate to any historical or current fact. Actual results may differ materially from those indicated by such forward-looking statements as a result of various important factors as may be disclosed in company's filings. In addition to these factors, actual future performance, outcomes, and results may differ materially because of more general factors including (without limitation) general industry and market conditions and growth rates, economic conditions, and governmental and public policy changes. The forward-looking statements included in this press release represent the Company's views as of the date of this press release and these views could change. However, while the Company may elect to update these forward-looking statements at some point in the future, the Company specifically disclaims any obligation to do so. These forward-looking statements should not be relied upon as representing the Company's views as of any date subsequent to the date of the press release. Such forward-looking statements are risks that are detailed in the Company's filings, which are on file atwww.OTCMarkets.com. SOURCE:First Bitcoin Capital Corp. \|\| The San Francisco MUNI hacker got hacked: While most people were busy recovering from Thanksgiving and getting ready for massive shopping sprees, a hacker on Friday shut down the San Francisco Municipal Transportation Agency (SFMTA) computer network, asking for $73,000 in Bitcoin to unscramble the data. In ironic turns of events, the hacker was hacked, as a security researcher guessed the answer to the attacker’s email security question. DON’T MISS: There’s a fix for your iPhone 6s’ serious battery drain, but you might not like it The researcher then sent the contents of the hacker’s email address to KrebsOnSecurity . It turns out that the attacker made a poor choice when it comes to security questions for the email address he had to display on the SFMTA’s computer systems. That’s how ransomware attacks work. The hacker has to make an email address available so funds can be transferred to him or her via Bitcoin. Looking at the available data, Krebs was able to discover several interesting things about the hacker of the Muni attack. The attacker did not hit only the SFMTA with ransomware. On November 20th he extorted 63 Bitcoins, or around $45,000, from a US-based manufacturing firm. Krebs says that the criminal got at least $140,000 in Bitcoin since August from several victims, switching Bitcoin wallets regularly. However, the SFMTA refused to pay up, choosing to restore its systems from backups instead. The email hack also sheds some light on how the attack on the SFMTA was possible. Apparently, the hacker did not actively devise methods to attack the public transportation system. Instead, he or she used a server to find vulnerable targets. “It appears our attacker has been using a number of tools which enabled the scanning of large portions of the Internet and several specific targets for vulnerabilities,” Holden Security’s Alex Holden told Krebs. “The most common vulnerability used ‘weblogic unserialize exploit’ and especially targeted Oracle Corp. server products, including Primavera project portfolio management software.” The email also contains elements that could help law enforcement discover the identity, or at least location, of the attacker. According to Krebs, the hacker might be based in Iran, although a phone number connecting the hacker to Russia has also been found — probably a red herring, Krebs said. Read the Krebs’ full report at the source link. Trending right now: What it takes to get a NES Classic Leak reveals another key Galaxy S8 feature that has never been seen before on an iPhone Samsung has started to turn the Galaxy Note 5 into the Note 7 See the original version of this article on BGR.com View comments \|\| The San Francisco MUNI hacker got hacked: While most people were busy recovering from Thanksgiving and getting ready for massive shopping sprees, a hacker on Friday shut down the San Francisco Municipal Transportation Agency (SFMTA) computer network, asking for $73,000 in Bitcoin to unscramble the data. In ironic turns of events, the hacker was hacked, as a security researcher guessed the answer to the attacker’s email security question. DON’T MISS: There’s a fix for your iPhone 6s’ serious battery drain, but you might not like it The researcher then sent the contents of the hacker’s email address to KrebsOnSecurity . It turns out that the attacker made a poor choice when it comes to security questions for the email address he had to display on the SFMTA’s computer systems. That’s how ransomware attacks work. The hacker has to make an email address available so funds can be transferred to him or her via Bitcoin. Looking at the available data, Krebs was able to discover several interesting things about the hacker of the Muni attack. The attacker did not hit only the SFMTA with ransomware. On November 20th he extorted 63 Bitcoins, or around $45,000, from a US-based manufacturing firm. Krebs says that the criminal got at least $140,000 in Bitcoin since August from several victims, switching Bitcoin wallets regularly. However, the SFMTA refused to pay up, choosing to restore its systems from backups instead. The email hack also sheds some light on how the attack on the SFMTA was possible. Apparently, the hacker did not actively devise methods to attack the public transportation system. Instead, he or she used a server to find vulnerable targets. “It appears our attacker has been using a number of tools which enabled the scanning of large portions of the Internet and several specific targets for vulnerabilities,” Holden Security’s Alex Holden told Krebs. “The most common vulnerability used ‘weblogic unserialize exploit’ and especially targeted Oracle Corp. server products, including Primavera project portfolio management software.” The email also contains elements that could help law enforcement discover the identity, or at least location, of the attacker. According to Krebs, the hacker might be based in Iran, although a phone number connecting the hacker to Russia has also been found — probably a red herring, Krebs said. Read the Krebs’ full report at the source link. Trending right now: What it takes to get a NES Classic Leak reveals another key Galaxy S8 feature that has never been seen before on an iPhone Samsung has started to turn the Galaxy Note 5 into the Note 7 See the original version of this article on BGR.com View comments \|\| American Express is increasing its late fees: American Express (BI Intelligence) This story was delivered to BI Intelligence " Payments Briefing " subscribers. To learn more and subscribe, please click here . American Express will be the first major credit card issuer to raise its late payment fees under the Consumer Financial Protection Bureau’s updated allowable limit, according to the Wall Street Journal . At the start of 2017, Amex will begin charging a fee of up to $38 to customers with more than one late payment in a six month period. That's $1 more than what was previously charged by the card issuer, but could give the firm a solid revenue boost. Late fees could prove to be very lucrative in the current card market. As credit card usage increases, it's likely the number of delinquent accounts will also grow. Credit card accounts and usage are close to pre-recession numbers once again, according to Forbes. That's leading to a big rise in usage — US credit card debt is on track to hit $1 trillion this year, according to the Wall Street Journal . That could help explain the rise in delinquent accounts — since 2013, the percentage of accounts at least 90 days delinquent six months after origination has increased, according to Forbes. Late fees could be a vital revenue source. Nearly one in five active credit-card accounts incur a late fee, according to CFPB data used by the Wall Street Journal. This is significant, considering credit card companies were able to collect roughly $10.8 billion in fees during 2015 from these late payments. And for Amex, that revenue could be critical as the issuer grapples with the loss of Costco.Based on 2015 numbers, if Amex is able to capture just 1% of the late fee market, that's roughly $100 million in revenue — a figure that could grow as the market expands following the updated allowable limit. Although this revenue could boost any card network, it could be particularly beneficial to Amex in light of the firm's sale of its Costco cobrand portfolio to Citigroup earlier this year. Story continues Costco had 11.6 million cardholders and accounted for 8% of the firm's $1 trillion global billed business in 2015. As the firm realizes the impact of the Costco sale, it is looking for additional sources of revenue. Finding a way to capitalize on growing card spend and delinquencies could be one such way among a variety of strategies. The CFPB's new guidelines could have a significant effect on the payments ecosystem, which has grown in the last several years to include merchants, issuers, acquirers, processors, and more. BI Intelligence , Business Insider's premium research service, has compiled a detailed report on the payments ecosystem that drills into the industry to explain how a broad range of transactions are processed, including prepaid and store cards, as well as revealing which types of companies are in the best and worst position to capitalize on the latest industry trends. Here are some key takeaways from the report: 2016 will be a watershed year for the payments industry. Payments companies are improving security, expanding their mobile offerings, and building commerce capabilities that will give consumers a more compelling reason to make purchases using digital devices. Payments is an extremely complex industry. To understand the next big digital opportunity lies, it's critical to understand how the traditional credit- and debit-processing chain works and what roles acquirers, processors, issuing banks, card networks, independent sales organizations, gateways, and software and hardware providers play. Alternative technologies could disrupt the processing ecosystem. Devices ranging from refrigerators to smartwatches now feature payment capabilities, which will spur changes in consumer payment behaviors. Likewise, blockchain technology, the protocol that underlies Bitcoin, could one day change how consumer card payments are verified. In full, the report: Uncovers the key themes and trends affecting the payments industry in 2016 and beyond. Gives a detailed description of the stakeholders involved in a payment transaction, along with hardware and software providers. Offers diagrams and infographics explaining how card transactions are processed and which players are involved in each step. Provides charts on our latest forecasts, key company growth, survey results, and more. Analyzes the alternative technologies, including blockchain, which could further disrupt the ecosystem. To get your copy of this invaluable guide, choose one of these options: Subscribe to an ALL-ACCESS Membership with BI Intelligence and gain immediate access to this report AND over 100 other expertly researched deep-dive reports, subscriptions to all of our daily newsletters, and much more. >> START A MEMBERSHIP Purchase the report and download it immediately from our research store. >> BUY THE REPORT The choice is yours. But however you decide to acquire this report, you’ve given yourself a powerful advantage in your understanding of the payments ecosystem. More From Business Insider THE PAYMENTS INDUSTRY EXPLAINED: The Trends Creating New Winners And Losers In The Card-Processing Ecosystem THE DIGITAL REMITTANCE REPORT: The new platforms disrupting a $600 billion industry Credit cards are going the way of fax machines \|\| American Express is increasing its late fees: (BI Intelligence) This story was delivered to BI Intelligence "Payments Briefing" subscribers. To learn more and subscribe, pleaseclick here. American Express will be the first major credit card issuer to raise its late payment fees under the Consumer Financial Protection Bureau’s updated allowable limit, according to theWall Street Journal. At the start of 2017, Amex will begin charging a fee of up to $38 to customers with more than one late payment in a six month period. That's $1 more than what was previously charged by the card issuer, but could give the firm a solid revenue boost. Late fees could prove to be very lucrative in the current card market. • As credit card usage increases, it's likely the number of delinquent accounts will also grow. Credit card accounts and usage are close to pre-recession numbers once again,accordingto Forbes. That's leading to a big rise in usage — US credit card debt is on track to hit $1 trillion this year, according to theWall Street Journal. That could help explain the rise in delinquent accounts — since 2013, the percentage of accounts at least 90 days delinquent six months after origination has increased, according to Forbes. • Late fees could be a vital revenue source. Nearly one in five active credit-card accounts incur a late fee, according to CFPB data used by the Wall Street Journal. This is significant, considering credit card companies were able to collect roughly $10.8 billion in fees during 2015 from these late payments. And for Amex, that revenue could be critical as the issuer grapples with the loss of Costco.Based on 2015 numbers, if Amex is able to capture just 1% of the late fee market, that's roughly $100 million in revenue — a figure that could grow as the market expands following the updated allowable limit. Although this revenue could boost any card network, it could be particularly beneficial to Amex in light of the firm's sale of its Costco cobrand portfolio to Citigroup earlier this year. Costco had 11.6 million cardholders and accounted for 8% of the firm's $1 trillion global billed business in 2015. As the firm realizes the impact of the Costco sale, it is looking for additional sources of revenue. Finding a way to capitalize on growing card spend and delinquencies could be one such way among a variety of strategies. The CFPB's new guidelines could have a significant effect on the payments ecosystem, which has grown in the last several years to include merchants, issuers, acquirers, processors, and more. BI Intelligence, Business Insider's premium research service, has compileda detailed report on the payments ecosystemthat drills into the industry to explain how a broad range of transactions are processed, including prepaid and store cards, as well as revealing which types of companies are in the best and worst position to capitalize on the latest industry trends. Here are some key takeaways from the report: • 2016 will be a watershed year for the payments industry. Payments companies are improving security, expanding their mobile offerings, and building commerce capabilities that will give consumers a more compelling reason to make purchases using digital devices. • Payments is an extremely complex industry. To understand the next big digital opportunity lies, it's critical to understand how the traditional credit- and debit-processing chain works and what roles acquirers, processors, issuing banks, card networks, independent sales organizations, gateways, and software and hardware providers play. • Alternative technologies could disrupt the processing ecosystem. Devices ranging from refrigerators to smartwatches now feature payment capabilities, which will spur changes in consumer payment behaviors. Likewise, blockchain technology, the protocol that underlies Bitcoin, could one day change how consumer card payments are verified. In full, the report: • Uncovers the key themes and trends affecting the payments industry in 2016 and beyond. • Gives a detailed description of the stakeholders involved in a payment transaction, along with hardware and software providers. • Offers diagrams and infographics explaining how card transactions are processed and which players are involved in each step. • Provides charts on our latest forecasts, key company growth, survey results, and more. • Analyzes the alternative technologies, including blockchain, which could further disrupt the ecosystem. To get your copy of this invaluable guide, choose one of these options: 1. Subscribe to an ALL-ACCESS Membership with BI Intelligence and gain immediate access to this report AND over 100 other expertly researched deep-dive reports, subscriptions to all of our daily newsletters, and much more. >>START A MEMBERSHIP 2. Purchase the report and download it immediately from our research store. >>BUY THE REPORT The choice is yours. But however you decide to acquire this report, you’ve given yourself a powerful advantage in your understanding of the payments ecosystem. More From Business Insider • THE PAYMENTS INDUSTRY EXPLAINED: The Trends Creating New Winners And Losers In The Card-Processing Ecosystem • THE DIGITAL REMITTANCE REPORT: The new platforms disrupting a $600 billion industry • Credit cards are going the way of fax machines [Social Media Buzz] #ChainCoin #CHC $0.000084 (0.18%) 0.00000011 BTC (0.00%) \|\| #Triangles #TRI $0.066899 (-0.04%) 0.00008801 BTC (0.00%) \|\| 1 KOBO = 0.00000172 BTC = 0.0013 USD = 0.4082 NGN = 0.0177 ZAR = 0.1325 KES #Kobocoin 2016-12-06 14:00 pic.twitter.com/frEXaa0nlz \|\| #ChainCoin #CHC $0.000084 (-0.06%) 0.00000011 BTC (0.00%) \|\| One Bitcoin now worth $756.64@bitstamp. High $758.00. Low $745.11. Market Cap $12.126 Billion #bitcoin \|\| One Bitcoin now worth $750.11@bitstamp. High $758.00. Low $743.00. Ma...	768.13, 770.81, 772.79, 774.65, 769.73, 780.09, 780.56, 781.48, 778.09, 784.91
Given the historical Bitcoin prices from the last 90 days, predict the next 10 daily closing prices. The historical prices are: 226.39, 219.43, 229.29, 225.85, 225.81, 236.15, 232.08, 234.93, 240.36, 239.02, 236.12, 229.78, 237.33, 243.86, 241.83, 240.30, 242.16, 241.11, 236.38, 236.93, 237.60, 236.15, 236.80, 233.13, 231.95, 234.02, 235.34, 240.35, 238.87, 240.95, 237.11, 237.12, 237.28, 237.41, 237.10, 233.35, 230.19, 222.93, 225.80, 225.87, 224.32, 224.95, 225.62, 222.88, 228.49, 229.05, 228.80, 229.71, 229.98, 232.40, 233.54, 236.82, 250.90, 249.28, 249.01, 244.61, 245.21, 243.94, 246.99, 244.30, 240.51, 242.80, 243.59, 250.99, 249.01, 257.06, 263.07, 258.62, 255.41, 256.34, 260.89, 271.91, 269.03, 266.21, 270.79, 269.23, 284.89, 293.11, 310.87, 292.05, 287.46, 285.83, 278.09, 279.47, 274.90, 273.61, 278.98, 275.83, 277.22, 276.05.	[Bitcoin Technical Analysis for 2015-07-23] Volume: 18531300, RSI (14-day): 53.52, 50-day EMA: 262.60, 200-day EMA: 258.25 [Wider Market Context] Gold Price: 1094.00, Gold RSI: 22.24 Oil Price: 48.45, Oil RSI: 25.65 [Recent News (last 7 days)] Is Social Activism And Marketing A Good Combination?: Earlier this month, The Coca-Cola Co (NYSE: KO ) removed its logo from cans of coke in the Middle East and replaced it with a message that read "Labels are for cans, not people." The campaign ran during Ramadan, an Islamic festival that takes place from June 17 to July 17. Overall, Coke's decision to pair marketing with social activism appeared to be a success, as the campaign quickly made its way through social media. Smart Marketing Or Soap Box? Many big corporations have used a global issue to drive their marketing campaigns much like Coca-Cola did, but the results haven't always been so positive. Trying to drive social change can have big rewards as it gets consumers to associate a company's brand with positive influence. However, firms also run the risk of seeming insincere, hypocritical and even uninformed if their campaign is a failure. Related Link: Bitcoin In The Middle East Race Together When racial tensions were at an all-time high earlier this year in the U.S., Starbucks Corporation (NASDAQ: SBUX ) inserted itself into the cross fire with its " Race Together " campaign. Soon after asking baristas to write the phrase "race together" and encourage open dialogue about race relations, the company disassembled much of the campaign. Social media lit up with accusations that the coffee-chain was overstepping its boundaries and using the issue as a marketing ploy and ultimately, the "Race Together" initiative was considered a flop. Real Beauty On the other hand, Unilever plc (ADR) (NYSE: UL )'s Dove brand used its far-reaching popularity to send a message about female self-esteem through its "Real Beauty Sketches" campaign. The company released a video in which women received two portraits of themselves from a forensic artist. The first was drawn based on their own description of themselves and the second was from a stranger's point of view. The video drove home the point that many women are critical of their own appearance and that they are more beautiful than they perceive. Soon after its release, the video went viral. Story continues Image Credit: Public Domain See more from Benzinga Starbucks Hopes To Blend In With The Locals Starbucks Hits Its Stride In The Digital Age Beverage Makers Hope To Ride The Craft Beer Wave © 2015 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. \|\| Is Social Activism And Marketing A Good Combination?: Earlier this month, The Coca-Cola Co (NYSE: KO ) removed its logo from cans of coke in the Middle East and replaced it with a message that read "Labels are for cans, not people." The campaign ran during Ramadan, an Islamic festival that takes place from June 17 to July 17. Overall, Coke's decision to pair marketing with social activism appeared to be a success, as the campaign quickly made its way through social media. Smart Marketing Or Soap Box? Many big corporations have used a global issue to drive their marketing campaigns much like Coca-Cola did, but the results haven't always been so positive. Trying to drive social change can have big rewards as it gets consumers to associate a company's brand with positive influence. However, firms also run the risk of seeming insincere, hypocritical and even uninformed if their campaign is a failure. Related Link: Bitcoin In The Middle East Race Together When racial tensions were at an all-time high earlier this year in the U.S., Starbucks Corporation (NASDAQ: SBUX ) inserted itself into the cross fire with its " Race Together " campaign. Soon after asking baristas to write the phrase "race together" and encourage open dialogue about race relations, the company disassembled much of the campaign. Social media lit up with accusations that the coffee-chain was overstepping its boundaries and using the issue as a marketing ploy and ultimately, the "Race Together" initiative was considered a flop. Real Beauty On the other hand, Unilever plc (ADR) (NYSE: UL )'s Dove brand used its far-reaching popularity to send a message about female self-esteem through its "Real Beauty Sketches" campaign. The company released a video in which women received two portraits of themselves from a forensic artist. The first was drawn based on their own description of themselves and the second was from a stranger's point of view. The video drove home the point that many women are critical of their own appearance and that they are more beautiful than they perceive. Soon after its release, the video went viral. Story continues Image Credit: Public Domain See more from Benzinga Starbucks Hopes To Blend In With The Locals Starbucks Hits Its Stride In The Digital Age Beverage Makers Hope To Ride The Craft Beer Wave © 2015 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. \|\| Goldman Sachs' former technology chief is doing great business at his new payments company: Hank Uberoi (Earthport) Earthport CEO Hank Uberoi, who is Goldman Sachs' former co-COO for technology. Earthport, the cloud-based payment platform run by Goldman Sachs' former co-COO of technology, Hank Uberoi, put out unaudited results for the year to June on Wednesday — and they're pretty good. The London-based company's revenue jumped 78% last year to £19.25 million ($30 million). The dollar value of payments made on Earthport's cloud-platform rose by 75%, and the company is on track to process $10 billion (£6.4 billion) worth of transactions by the end of the year. Earthport is trying to build a faster, more tech savvy, international payments network, built on the cloud. The current systems of so-called payment "rails" were built decades ago, and are slow and costly. Thirty-one new customers signed up to the platform last year and big names like HSBC, Santander, and Standard Chartered all started routing payments through Earthport's system. Uberoi said in today's statement: "We are pleased and enthusiastic about the acceptance of the Earthport payment network as a truly valuable and innovative solution in the massive payments market." He said the medium- to long-term potential for Earthport's technology is "significant." Investors are clearly buying in to that theory. Earthport's shares, which are listed on London's market for growing companies AIM, are up 6% at a one-month high. Earthport shares (Investing.com) Earthport shares are jumping. NOW WATCH: The science behind losing weight More From Business Insider Citigroup beats earnings estimates Goldman Sachs had a great quarter … if you ignore legal costs Bitcoin is the 'Napster' of finance — and there'll be an iTunes \|\| Goldman Sachs' former technology chief is doing great business at his new payments company: (Earthport)Earthport CEO Hank Uberoi, who is Goldman Sachs' former co-COO for technology. Earthport, the cloud-based payment platform run by Goldman Sachs' former co-COO of technology,Hank Uberoi,put out unaudited results for the year to June on Wednesday— and they're pretty good. The London-based company's revenue jumped 78% last year to £19.25 million ($30 million). The dollar value of payments made on Earthport's cloud-platform rose by 75%, and the company is on track to process $10 billion (£6.4 billion) worth of transactions by the end of the year. Earthport is trying to build a faster, more tech savvy, international payments network, built on the cloud. The current systems of so-called payment "rails" were built decades ago, and are slow and costly. Thirty-one new customers signed up to the platform last year and big names like HSBC, Santander, and Standard Chartered all started routing payments through Earthport's system. Uberoi said in today's statement: "We are pleased and enthusiastic about the acceptance of the Earthport payment network as a truly valuable and innovative solution in the massive payments market." He said the medium- to long-term potential for Earthport's technology is "significant." Investors are clearly buying in to that theory. Earthport's shares, which are listed on London's market for growing companies AIM, are up 6% at a one-month high. (Investing.com)Earthport shares are jumping. NOW WATCH:The science behind losing weight More From Business Insider • Citigroup beats earnings estimates • Goldman Sachs had a great quarter … if you ignore legal costs • Bitcoin is the 'Napster' of finance — and there'll be an iTunes \|\| The weird Florida connection in a massive bank data breach that impacted 76 million households: A sign outside the headquarters of JP Morgan Chase & Co in New York, September 19, 2013. JPMorgan Chase & Co will pay $920 million in penalties in two countries to settle some of its potential liabilities from its (Thomson Reuters) JP Morgan Chase Four arrests made on Tuesday in two separate cases—one involving penny stocks and the other an underground Bitcoin exchange—might tie back to last year's massive cyberattack against JPMorgan Chase, Bloomberg News reports . Two people were arrested in Israel and the other two were arrested in Florida. One person is still at large. The JPMorgan cyberattack is not mentioned in any of the indictments. What's striking about these two separate cases is that they can be connected by a friendship that goes back a decade to Florida State University, Bloomberg News pointed out. Anthony Murgio, 31, was arrested in Florida and charged with running an unlicensed Bitcoin exchange. He was also charged with one count of money laundering. Joshua S. Aaron, a 31-year-old American citizen who resides in Tel Aviv and Moscow, faces multiple charges related to an alleged penny stock scheme. Aaron is the one who remains at large. On what appears to be Murgio's personal website, he mentions his friend Aaron, who he said " showed me the ropes to online marketing." Murgio and Aaron were both mentioned in an FBI memo from October 2014 regarding the JPMorgan hack, the Bloomberg report said. Bloomberg News noted that it was asked not to report about the memo earlier this year because it might impact the FBI's investigation. The JPMorgan breach Last year, JPMorgan said that 76 million households and 7 million small businesses may have had their data compromised in a cyberattack. At the time, the bank said that that the hackers had access to customer names, addresses, phone numbers, and email addresses. No customer money was lost. The bank also said there was no indication that account numbers, passwords, user IDs, dates of birth or Social Security numbers were compromised. That attack was so massive though that it was even believed that the Russian government may have been behind it. Millions of penny stock emails penny stock fraud (US DOJ) These are the charges the trio faces. Story continues The US Attorney's Office in New York charged Gery Shalon, Joshua Samuel Aaron, and Zvi Orenstein for their roles in an alleged multi-million dollar penny stock pump-and-dump that goes back to 2011. Shalon, 31, and Orenstein, 41, were arrested in Israel by the Israel Police. Aaron hasn't been arrested . Bloomberg pointed out that his wife shared photos on Instagram of them in St. Petersburg, Russia just a couple of days ago. We've also sent an email to Aaron seeking comment. The Securities and Exchange Commission has also filed civil charges against the trio. Shalon, who used the aliases "Phillipe Mousset" and "Christopher Engeham," and Aaron, who went by "Mike Shields," allegedly wrote emails that Shalon allegedly disseminated through "their possession of vast email lists," the SEC said. Orenstein, who went by "Aviv Stein" and"John Avery", is accused of handling brokerage accounts using the aliases. Authorities said that they sent spam emails to millions of people daily that contained "materially false" and "fraudulent" statements about the microcap companies based in Florida, Virginia, South Carolina, and California. They also allegedly used about 20 promotional sites to tout these stocks. "These promotional campaigns frequently urged people to buy shares of the promoted issuers without properly disclosing that the promoters themselves owned shares of these issuers and, contrary to their exhortations to readers of their emails to buy shares, intended to sell those shares immediately," the SEC alleged in its complaint. The Florida arrests The US Attorney's Office in New York also arrested and charged Florida residents Anthony Murgio, 31, and Yuri Lebedev, 37, for allegedly running an unlicensed Bitcoin exchange that " exchanged at least $1.8 million for Bitcoins on behalf of tens of thousands of customers." Murgio and Lebedev are accused of "knowingly operated Coin.mx, a Bitcoin exchange service, in violation of federal anti-money laundering (“AML”) laws and regulations," the US Attorney's Office in New York said. Murgio and his co-conspirators are also accused of having "knowingly exchanged cash for Bitcoins for victims of 'ransomware' attacks, that is, cyberattacks in which criminals (here, distributors of the ransomware known as 'Cryptowall') electronically block access to a victim’s computer system until a sum of 'ransom' money, typically in Bitcoins, is paid to them." The US Attorney's Office alleged that the pair hid the illegal exchange under the guise that they were operating a business called the "Collectables Club," a members-only group for people to buy and sell collectibles like sports memorabilia. Public records show a number of fictitious businesses registered to Murgio, including the "Collectables Club." The records also show that in 2013 he was hit with felony charges for allegedly not paying $110,000 in sales taxes for a a restaurant he owned . NOW WATCH: People doing backflips on a two-inch wide strap is a real sport called slacklining More From Business Insider Ex-JPMorgan star Blythe Masters is going to work for one of the biggest US auto lenders Carl Icahn told Larry Fink that Blackrock is 'dangerous' to his face Watching Ted Cruz talk to a room full of Wall Streeters is about as awkward as expected \|\| The weird Florida connection in a massive bank data breach that impacted 76 million households: A sign outside the headquarters of JP Morgan Chase & Co in New York, September 19, 2013. JPMorgan Chase & Co will pay $920 million in penalties in two countries to settle some of its potential liabilities from its (Thomson Reuters) JP Morgan Chase Four arrests made on Tuesday in two separate cases—one involving penny stocks and the other an underground Bitcoin exchange—might tie back to last year's massive cyberattack against JPMorgan Chase, Bloomberg News reports . Two people were arrested in Israel and the other two were arrested in Florida. One person is still at large. The JPMorgan cyberattack is not mentioned in any of the indictments. What's striking about these two separate cases is that they can be connected by a friendship that goes back a decade to Florida State University, Bloomberg News pointed out. Anthony Murgio, 31, was arrested in Florida and charged with running an unlicensed Bitcoin exchange. He was also charged with one count of money laundering. Joshua S. Aaron, a 31-year-old American citizen who resides in Tel Aviv and Moscow, faces multiple charges related to an alleged penny stock scheme. Aaron is the one who remains at large. On what appears to be Murgio's personal website, he mentions his friend Aaron, who he said " showed me the ropes to online marketing." Murgio and Aaron were both mentioned in an FBI memo from October 2014 regarding the JPMorgan hack, the Bloomberg report said. Bloomberg News noted that it was asked not to report about the memo earlier this year because it might impact the FBI's investigation. The JPMorgan breach Last year, JPMorgan said that 76 million households and 7 million small businesses may have had their data compromised in a cyberattack. At the time, the bank said that that the hackers had access to customer names, addresses, phone numbers, and email addresses. No customer money was lost. The bank also said there was no indication that account numbers, passwords, user IDs, dates of birth or Social Security numbers were compromised. That attack was so massive though that it was even believed that the Russian government may have been behind it. Millions of penny stock emails penny stock fraud (US DOJ) These are the charges the trio faces. Story continues The US Attorney's Office in New York charged Gery Shalon, Joshua Samuel Aaron, and Zvi Orenstein for their roles in an alleged multi-million dollar penny stock pump-and-dump that goes back to 2011. Shalon, 31, and Orenstein, 41, were arrested in Israel by the Israel Police. Aaron hasn't been arrested . Bloomberg pointed out that his wife shared photos on Instagram of them in St. Petersburg, Russia just a couple of days ago. We've also sent an email to Aaron seeking comment. The Securities and Exchange Commission has also filed civil charges against the trio. Shalon, who used the aliases "Phillipe Mousset" and "Christopher Engeham," and Aaron, who went by "Mike Shields," allegedly wrote emails that Shalon allegedly disseminated through "their possession of vast email lists," the SEC said. Orenstein, who went by "Aviv Stein" and"John Avery", is accused of handling brokerage accounts using the aliases. Authorities said that they sent spam emails to millions of people daily that contained "materially false" and "fraudulent" statements about the microcap companies based in Florida, Virginia, South Carolina, and California. They also allegedly used about 20 promotional sites to tout these stocks. "These promotional campaigns frequently urged people to buy shares of the promoted issuers without properly disclosing that the promoters themselves owned shares of these issuers and, contrary to their exhortations to readers of their emails to buy shares, intended to sell those shares immediately," the SEC alleged in its complaint. The Florida arrests The US Attorney's Office in New York also arrested and charged Florida residents Anthony Murgio, 31, and Yuri Lebedev, 37, for allegedly running an unlicensed Bitcoin exchange that " exchanged at least $1.8 million for Bitcoins on behalf of tens of thousands of customers." Murgio and Lebedev are accused of "knowingly operated Coin.mx, a Bitcoin exchange service, in violation of federal anti-money laundering (“AML”) laws and regulations," the US Attorney's Office in New York said. Murgio and his co-conspirators are also accused of having "knowingly exchanged cash for Bitcoins for victims of 'ransomware' attacks, that is, cyberattacks in which criminals (here, distributors of the ransomware known as 'Cryptowall') electronically block access to a victim’s computer system until a sum of 'ransom' money, typically in Bitcoins, is paid to them." The US Attorney's Office alleged that the pair hid the illegal exchange under the guise that they were operating a business called the "Collectables Club," a members-only group for people to buy and sell collectibles like sports memorabilia. Public records show a number of fictitious businesses registered to Murgio, including the "Collectables Club." The records also show that in 2013 he was hit with felony charges for allegedly not paying $110,000 in sales taxes for a a restaurant he owned . NOW WATCH: People doing backflips on a two-inch wide strap is a real sport called slacklining More From Business Insider Ex-JPMorgan star Blythe Masters is going to work for one of the biggest US auto lenders Carl Icahn told Larry Fink that Blackrock is 'dangerous' to his face Watching Ted Cruz talk to a room full of Wall Streeters is about as awkward as expected \|\| California Plans For Pot Expansion: Although current California legislation still prohibits recreational marijuana use, the state has been at the forefront of the cannabis industry since relaxing its laws to allow residents to use marijuana for medical reasons. However, as the push for full-scale legalization picks up momentum, the state's lawmakers have struggled to determine just how the industry should be allowed to grow. Regulation Questions In many California cities, dispensaries have been forbidden while in others a plethora of marijuana facilities, both legal and illegal, have sprung up. To streamline the industry and give growers a place to expand, Arcata, a northwestern city, isopeninga Medical Marijuana Innovation Zone. Related Link:Marijuana Proves Useful In Treating Bone-Related Conditions Marijuana Zone The zone will be wholly dedicated to the production of marijuana, something that is believed to be a first in the U.S. By giving pot growers a place apart from California's residential neighborhoods to cultivate their crops, Arcadia City Council officials hope to carve out their town's role in the growing industry. Regulating The Industry Arcata's decision to create a specific zone for marijuana cultivation could serve as a blueprint for other states struggling with the issue of how to regulate the cannabis industry. When the land has been specifically designated for marijuana production, it gives local officials a chance to impose rules on growers in regard to land use rather than drug policy. That means pot regulation can be carried out on a local rather than state level. Money Maker Not only will Arcata's marijuana zoning plan help revamp California's pot industry, it's also expected to bring in big bucks for the local economy. Arcata and its local businesses stand to profit from the pot industry in the coming years, especially if California legalizes recreational marijuana as well. See more from Benzinga • Venture Capitalists Pouring Money Into Bitcoin • Greek Bailout Deal: Agreed To By Many, Welcomed By None • People Using Cryptocurrency For Secret Communications © 2015 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. \|\| California Plans For Pot Expansion: Although current California legislation still prohibits recreational marijuana use, the state has been at the forefront of the cannabis industry since relaxing its laws to allow residents to use marijuana for medical reasons. However, as the push for full-scale legalization picks up momentum, the state's lawmakers have struggled to determine just how the industry should be allowed to grow. Regulation Questions In many California cities, dispensaries have been forbidden while in others a plethora of marijuana facilities, both legal and illegal, have sprung up. To streamline the industry and give growers a place to expand, Arcata, a northwestern city, is opening a Medical Marijuana Innovation Zone. Related Link: Marijuana Proves Useful In Treating Bone-Related Conditions Marijuana Zone The zone will be wholly dedicated to the production of marijuana, something that is believed to be a first in the U.S. By giving pot growers a place apart from California's residential neighborhoods to cultivate their crops, Arcadia City Council officials hope to carve out their town's role in the growing industry. Regulating The Industry Arcata's decision to create a specific zone for marijuana cultivation could serve as a blueprint for other states struggling with the issue of how to regulate the cannabis industry. When the land has been specifically designated for marijuana production, it gives local officials a chance to impose rules on growers in regard to land use rather than drug policy. That means pot regulation can be carried out on a local rather than state level. Money Maker Not only will Arcata's marijuana zoning plan help revamp California's pot industry, it's also expected to bring in big bucks for the local economy. Arcata and its local businesses stand to profit from the pot industry in the coming years, especially if California legalizes recreational marijuana as well. See more from Benzinga Venture Capitalists Pouring Money Into Bitcoin Greek Bailout Deal: Agreed To By Many, Welcomed By None People Using Cryptocurrency For Secret Communications © 2015 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. View comments \|\| Will Overstock.com (OSTK) Q2 Earnings Surprise Estimates? - Analyst Blog: Overstock.com Inc.OSTK is slated to report second-quarter 2015 results after the closing bell on Jul 23. Last quarter, the company posted a negative earnings surprise of 45.00%. Let us see how things are shaping up for this announcement. Factors to Consider Overstock’s first-quarter 2015 earnings of 11 cents missed the Zacks Consensus Estimate of 20 cents. Revenues of $398 million, however, beat the consensus mark of $387 million. In the past quarter, Overstock, a Bitcoin supporter, circulated a proposal among hedge funds, P-E firms, and other probable investors to sell a $25 million private bond using the blockchain. Bitcoin and other cryptocurencies operate on blockchain which is a distributed public ledger. This revolutionary development is part of the company's larger cryptofinance initiative known as Medici. Nevertheless, Overstock shares lost 5.43% over the last three months. According to Seeking Alpha, numerous hedge funds exited their positions in the shares of the company in their latest filings. Along with this, seven funds reduced their positions. Overstock also expanded its operations into China. The company will ship products from a warehouse situated just outside Shanghai. It has partnered with China's second largest online retail store, JD.com JD. Earnings Whispers Our proven model does not conclusively show that Overstock will beat earnings estimates this quarter. That is because a stock needs to have both a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) for this to happen. That is not the case here as you will see below. Zacks ESP:Both the Most Accurate estimate and the Zacks Consensus Estimate stand at 13 cents. Hence, the difference is 0.00%. Zacks Rank:Overstock’s Zacks Rank #3 when combined with 0.00% ESP makes surprise prediction difficult. We caution against stocks with a Zacks Rank #4 or 5 (Sell-rated stocks) going into the earnings announcement, especially when the company is seeing negative estimate revisions. Stocks to Consider Here are some companies, which you may consider as our model shows that they have the right combination of elements to post an earnings beat this quarter: PetMed Express, Inc. PETS, with an Earnings ESP of +3.57% and a Zacks Rank #1 Apple Inc. AAPL, with an Earnings ESP of +2.78% and a Zacks Rank #2 Want the latest recommendations from Zacks Investment Research? Today, you can download7 Best Stocks for the Next 30 Days.Click to get this free report >> Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days.Click to get this free reportPETMED EXPRESS (PETS): Free Stock Analysis ReportAPPLE INC (AAPL): Free Stock Analysis ReportOVERSTOCK.COM (OSTK): Free Stock Analysis ReportJD.COM INC-ADR (JD): Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment Research \|\| Will Overstock.com (OSTK) Q2 Earnings Surprise Estimates? - Analyst Blog: Overstock.com Inc. OSTK is slated to report second-quarter 2015 results after the closing bell on Jul 23. Last quarter, the company posted a negative earnings surprise of 45.00%. Let us see how things are shaping up for this announcement. Factors to Consider Overstock’s first-quarter 2015 earnings of 11 cents missed the Zacks Consensus Estimate of 20 cents. Revenues of $398 million, however, beat the consensus mark of $387 million. In the past quarter, Overstock, a Bitcoin supporter, circulated a proposal among hedge funds, P-E firms, and other probable investors to sell a $25 million private bond using the blockchain. Bitcoin and other cryptocurencies operate on blockchain which is a distributed public ledger. This revolutionary development is part of the company's larger cryptofinance initiative known as Medici. Nevertheless, Overstock shares lost 5.43% over the last three months. According to Seeking Alpha, numerous hedge funds exited their positions in the shares of the company in their latest filings. Along with this, seven funds reduced their positions. Overstock also expanded its operations into China. The company will ship products from a warehouse situated just outside Shanghai. It has partnered with China's second largest online retail store, JD.com JD. Earnings Whispers Our proven model does not conclusively show that Overstock will beat earnings estimates this quarter. That is because a stock needs to have both a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) for this to happen. That is not the case here as you will see below. Zacks ESP: Both the Most Accurate estimate and the Zacks Consensus Estimate stand at 13 cents. Hence, the difference is 0.00%. Zacks Rank: Overstock’s Zacks Rank #3 when combined with 0.00% ESP makes surprise prediction difficult. We caution against stocks with a Zacks Rank #4 or 5 (Sell-rated stocks) going into the earnings announcement, especially when the company is seeing negative estimate revisions. Story continues Stocks to Consider Here are some companies, which you may consider as our model shows that they have the right combination of elements to post an earnings beat this quarter: PetMed Express, Inc. PETS, with an Earnings ESP of +3.57% and a Zacks Rank #1 Apple Inc. AAPL, with an Earnings ESP of +2.78% and a Zacks Rank #2 Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report >> Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report PETMED EXPRESS (PETS): Free Stock Analysis Report APPLE INC (AAPL): Free Stock Analysis Report OVERSTOCK.COM (OSTK): Free Stock Analysis Report JD.COM INC-ADR (JD): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research \|\| Washington D.C. Celebrates Marijuana Legalization With Growing Competition: Five months ago, Washington D.C. relaxed its regulations governing the recreational use of marijuana despite arguments from the nation's lawmakers. The district has since held several events to take advantage of the new rules and this year's state fare is even incorporating pot into the festivities. Growing Contest A state fair conjures up images of homemade apple pies and prize-winning livestock, but in Washington D.C., the event will also include a marijuana growing competition. Fair organizers will give out a "Best Bud" award for the best specimen of a marijuana plant. The contest will run alongside other D.C. favorites like the knit and crochet contest, the pickled food contest and the homebrew contest. Related Link: Surprising Study Shows Lax Marijuana Laws May Benefit America's Youth Embracing Marijuana Rules The fair, set to take place in September, says its inclusion of a marijuana growing competition is an important step toward embracing the district's new laws. Not only will the contest underscore D.C.'s new freedom, but it will give home-growers a chance to show off their talent for sustaining what can be a difficult to grow plant. Judging The plants will be judged rigorously in four categories including appearance, odor, touch and growing method. However, the plants will not be judged on their potency and judges will not sample any of the entries. D.C. law prohibits anyone from smoking in public spaces, and the fair is planning to uphold that law by banning marijuana use on the premises. See more from Benzinga Bitcoin Makes A Musical Debut Starbucks Hopes To Blend In With The Locals Hacking Concerns Give New Life To Cybersecurity Field © 2015 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. \|\| Washington D.C. Celebrates Marijuana Legalization With Growing Competition: Five months ago, Washington D.C. relaxed its regulations governing the recreational use of marijuana despite arguments from the nation's lawmakers. The district has since held several events to take advantage of the new rules and this year's state fare is evenincorporating potinto the festivities. Growing Contest A state fair conjures up images of homemade apple pies and prize-winning livestock, but in Washington D.C., the event will also include a marijuana growing competition. Fair organizers will give out a "Best Bud" award for the best specimen of a marijuana plant. The contest will run alongside other D.C. favorites like the knit and crochet contest, the pickled food contest and the homebrew contest. Related Link:Surprising Study Shows Lax Marijuana Laws May Benefit America's Youth Embracing Marijuana Rules The fair, set to take place in September, says its inclusion of a marijuana growing competition is an important step toward embracing the district's new laws. Not only will the contest underscore D.C.'s new freedom, but it will give home-growers a chance to show off their talent for sustaining what can be a difficult to grow plant. Judging The plants will be judged rigorously in four categories including appearance, odor, touch and growing method. However, the plants will not be judged on their potency and judges will not sample any of the entries. D.C. law prohibits anyone from smoking in public spaces, and the fair is planning to uphold that law by banning marijuana use on the premises. See more from Benzinga • Bitcoin Makes A Musical Debut • Starbucks Hopes To Blend In With The Locals • Hacking Concerns Give New Life To Cybersecurity Field © 2015 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. \|\| C&W Unveils the 'New' Flow and Creates History in Barbados: BRIDGETOWN, BARBADOS--(Marketwired - Jul 16, 2015) - Telecoms history was made in Barbados today as Cable & Wireless Communications (C&W) officially launched its retail brand, Flow, for its newly combined consumer group. The 'new' Flow will deliver a compelling set of quad play products and services via its Fibre to the Home (FTTH) infrastructure set to reach 100% of Barbados homes by year end. This will make Barbados the first country in the world to have 100% FTTH coverage. "We are pleased to usher in a new culture of innovation and technical excellence, backed by major investments in our Fibre to the Home infrastructure," said John Reid, President of C&W Consumer Group. With our combined strengths, Barbados consumers will have access to the most technologically advanced quad play products in the region, through our mobile, video, landline and broadband services. Reid also said that the foundation of the new Flow brand strategy was consistent with the positive characteristics of the Caribbean. "We are driven by all that is positive in the Caribbean," he said. "The people, the passion, and the drive to succeed. Against that backdrop, we commit to continue our focus on innovation, technical excellence and great customer service." Flow also unveiled plans to become #1 for customer experience in Barbados and the region. According to Niall Sheehy, the Country Manager for Flow Barbados, "Flow will realise this bold vision by making significant changes across our operations to drive an outstanding customer experience, which will extend beyond the obvious frontline transactions." Sheehy said that, "In all departments and in each role the goal will be to put the customer first in every aspect of our business." The 'unveil' of the new brand, follows the announcement in March by C&W to merge its operations with Columbus International. C&W will follow this inaugural launch throughout the Caribbean on a phased, country-by-country basis over the next twelve months. Story continues About Cable & Wireless Communications: Cable & Wireless Communications Plc (CWC) is a full service communications and entertainment provider, operating in the Caribbean and Latin America. With annual sales of over $2.4 billion, it operates both mobile and fixed networks, supported by submarine and terrestrial optical fibre backhaul capacity. Through the acquisition of Columbus International Inc. on 31 March 2015, CWC now delivers superior high-speed mobile data, broadband and TV/video services. It has leading market positions in Mobile, Fixed Line, Broadband and TV consumer offers. Through its business division, CWC provides data centre hosting, domestic and international managed network services, and customised IT service solutions, utilising cloud technology to serve business and government customers. The company also operates a state-of-the-art subsea fibre optic cable network that spans more than 42,000 km -- the most extensive in the region -- as well as 38,000 km of terrestrial fibre providing wholesale and carrier backhaul capacity. CWC has more than 7,500 employees serving over 6 million customers (Mobile 3.8m; Fixed Line 1.1m; TV 430k and Broadband 650k) as well as over 125k corporate clients across 42 countries. The Company's leading brands include: LIME and Flow in the Caribbean; BTC in The Bahamas; Mas Movil in Panama; C&W Business and C&W Networks. CWC is the market leader in most products offered and territories served. It is a major contributor to local communities through its corporate social responsibility programmes. Cable & Wireless Communications' shares are quoted on the London Stock Exchange under the ticker CWC. The company is headquartered in London with its operational hub located in Miami, within close proximity to the Caribbean and Latin America. For more information visit: http://www.cwc.com . \|\| C&W Unveils the 'New' Flow and Creates History in Barbados: BRIDGETOWN, BARBADOS--(Marketwired - Jul 16, 2015) - Telecoms history was made in Barbados today as Cable & Wireless Communications (C&W) officially launched its retail brand, Flow, for its newly combined consumer group. The 'new' Flow will deliver a compelling set of quad play products and services via its Fibre to the Home (FTTH) infrastructure set to reach 100% of Barbados homes by year end. This will make Barbados the first country in the world to have 100% FTTH coverage. "We are pleased to usher in a new culture of innovation and technical excellence, backed by major investments in our Fibre to the Home infrastructure," said John Reid, President of C&W Consumer Group. With our combined strengths, Barbados consumers will have access to the most technologically advanced quad play products in the region, through our mobile, video, landline and broadband services. Reid also said that the foundation of the new Flow brand strategy was consistent with the positive characteristics of the Caribbean. "We are driven by all that is positive in the Caribbean," he said. "The people, the passion, and the drive to succeed. Against that backdrop, we commit to continue our focus on innovation, technical excellence and great customer service." Flow also unveiled plans to become #1 for customer experience in Barbados and the region. According to Niall Sheehy, the Country Manager for Flow Barbados, "Flow will realise this bold vision by making significant changes across our operations to drive an outstanding customer experience, which will extend beyond the obvious frontline transactions." Sheehy said that, "In all departments and in each role the goal will be to put the customer first in every aspect of our business." The 'unveil' of the new brand, follows the announcement in March by C&W to merge its operations with Columbus International. C&W will follow this inaugural launch throughout the Caribbean on a phased, country-by-country basis over the next twelve months. About Cable & Wireless Communications: Cable & Wireless Communications Plc (CWC) is a full service communications and entertainment provider, operating in the Caribbean and Latin America. With annual sales of over $2.4 billion, it operates both mobile and fixed networks, supported by submarine and terrestrial optical fibre backhaul capacity. Through the acquisition of Columbus International Inc. on 31 March 2015, CWC now delivers superior high-speed mobile data, broadband and TV/video services. It has leading market positions in Mobile, Fixed Line, Broadband and TV consumer offers. Through its business division, CWC provides data centre hosting, domestic and international managed network services, and customised IT service solutions, utilising cloud technology to serve business and government customers. The company also operates a state-of-the-art subsea fibre optic cable network that spans more than 42,000 km -- the most extensive in the region -- as well as 38,000 km of terrestrial fibre providing wholesale and carrier backhaul capacity. CWC has more than 7,500 employees serving over 6 million customers (Mobile 3.8m; Fixed Line 1.1m; TV 430k and Broadband 650k) as well as over 125k corporate clients across 42 countries. The Company's leading brands include: LIME and Flow in the Caribbean; BTC in The Bahamas; Mas Movil in Panama; C&W Business and C&W Networks. CWC is the market leader in most products offered and territories served. It is a major contributor to local communities through its corporate social responsibility programmes. Cable & Wireless Communications' shares are quoted on the London Stock Exchange under the ticker CWC. The company is headquartered in London with its operational hub located in Miami, within close proximity to the Caribbean and Latin America. For more information visit:http://www.cwc.com. \|\| Caribbean's Next Top Model Returns to the Catwalk With Flow TV Partnership: BRIDGETOWN, BARBADOS--(Marketwired - Jul 16, 2015) - It was a night of exciting news as C&W unveiled its new consumer brand in Barbados and Wendy Fitzwilliam, Miss Universe 1998, announced a mutually beneficial partnership with the 'new' Flow to air the second season of the reality show 'Caribbean's Next Top Model.' "We're absolutely excited to be working with Flow to bring Caribbean's Next Top Model back for a second season. We are resolute in our desire to showcase brand Caribbean and this partnership makes it possible to build on our first season and bring the show back to our fans in a much more interactive way," said Wendy Fitzwilliam at the launch. The regionally based reality show is tied to the successful original production -- America's Next Top Model -- owned by CBS International and created by former top model and television producer Tyra Banks and follows the stories of young women seeking to launch a career in the competitive world of modelling. Fitzwilliam stated, "We know that there are many young women in the Caribbean who have big dreams of success in fashion. The fashion and beauty industries have been impacted by the talent of women with Caribbean roots for quite some time, from history makers such as Grace Jones and Naomi Campbell to relative newcomers such as Barbadian model Lene Hall, the face of Prescriptives by Esteé Lauder and Puerto Rican supermodel Joan Smalls. CNTM," she says "provides an additional opportunity for more Caribbean women to be represented within the international fashion industry. The success of this show will impact more than individuals and models it will also highlight the Caribbean fashion and beauty industries, content development in the Caribbean and more." John Reid, President of the C&W Consumer Group noted that the partnership was a perfect fit for Flow, now positioned as a Caribbean brand "driven by all that is positive in the Caribbean, the people, the passion, the drive to succeed, innovation and positive vibes." He noted that Flow will also use its quad play technology to ensure that viewers have access across multiple channels so that they can access the programme when they want and how they want. "Flow customers," he explained, "will be able to access Caribbean Next Top Model before other viewers on Flow TV, via the Flow on Demand platform at their convenience. They can even access information about the programme on their smart phones and other mobile devices." Story continues Caribbean's Next Top Model is produced by Wendy Fitzwilliam and her sister Dionyse Fitzwilliam, who is the show's Executive Producer. Casting calls for the second season are currently being held in Barbados, Cayman Islands, Jamaica and Trinidad and Tobago. The casting calls are also being facilitated online to make it more accessible for potential participants throughout the region. The first show will be aired in October. About Cable & Wireless Communications: Cable & Wireless Communications Plc (CWC) is a full service communications and entertainment provider, operating in the Caribbean and Latin America. With annual sales of over $2.4 billion, it operates both mobile and fixed networks, supported by submarine and terrestrial optical fibre backhaul capacity. Through the acquisition of Columbus International Inc. on 31 March 2015, CWC now delivers superior high-speed mobile data, broadband and TV/video services. It has leading market positions in Mobile, Fixed Line, Broadband and TV consumer offers. Through its business division, CWC provides data centre hosting, domestic and international managed network services, and customised IT service solutions, utilising cloud technology to serve business and government customers. The company also operates a state-of-the-art subsea fibre optic cable network that spans more than 42,000 km -- the most extensive in the region -- as well as 38,000 km of terrestrial fibre providing wholesale and carrier backhaul capacity. CWC has more than 7,500 employees serving over 6 million customers (Mobile 3.8m; Fixed Line 1.1m; TV 430k and Broadband 650k) as well as over 125k corporate clients across 42 countries. The Company's leading brands include; LIME and Flow in the Caribbean; BTC in The Bahamas; Mas Movil in Panama; C&W Business and C&W Networks. CWC is the market leader in most products offered and territories served. It is a major contributor to local communities through its corporate social responsibility programmes. Cable & Wireless Communications' shares are quoted on the London Stock Exchange under the ticker CWC. The company is headquartered in London with its operational hub located in Miami, within close proximity to the Caribbean and Latin America. For more information visit: http://www.cwc.com . \|\| Caribbean's Next Top Model Returns to the Catwalk With Flow TV Partnership: BRIDGETOWN, BARBADOS--(Marketwired - Jul 16, 2015) - It was a night of exciting news as C&W unveiled its new consumer brand in Barbados and Wendy Fitzwilliam, Miss Universe 1998, announced a mutually beneficial partnership with the 'new' Flow to air the second season of the reality show 'Caribbean's Next Top Model.' "We're absolutely excited to be working with Flow to bring Caribbean's Next Top Model back for a second season. We are resolute in our desire to showcase brand Caribbean and this partnership makes it possible to build on our first season and bring the show back to our fans in a much more interactive way," said Wendy Fitzwilliam at the launch. The regionally based reality show is tied to the successful original production -- America's Next Top Model -- owned by CBS International and created by former top model and television producer Tyra Banks and follows the stories of young women seeking to launch a career in the competitive world of modelling. Fitzwilliam stated, "We know that there are many young women in the Caribbean who have big dreams of success in fashion. The fashion and beauty industries have been impacted by the talent of women with Caribbean roots for quite some time, from history makers such as Grace Jones and Naomi Campbell to relative newcomers such as Barbadian model Lene Hall, the face of Prescriptives by Esteé Lauder and Puerto Rican supermodel Joan Smalls. CNTM," she says "provides an additional opportunity for more Caribbean women to be represented within the international fashion industry. The success of this show will impact more than individuals and models it will also highlight the Caribbean fashion and beauty industries, content development in the Caribbean and more." John Reid, President of the C&W Consumer Group noted that the partnership was a perfect fit for Flow, now positioned as a Caribbean brand "driven by all that is positive in the Caribbean, the people, the passion, the drive to succeed, innovation and positive vibes." He noted that Flow will also use its quad play technology to ensure that viewers have access across multiple channels so that they can access the programme when they want and how they want. "Flow customers," he explained, "will be able to access Caribbean Next Top Model before other viewers on Flow TV, via the Flow on Demand platform at their convenience. They can even access information about the programme on their smart phones and other mobile devices." Caribbean's Next Top Model is produced by Wendy Fitzwilliam and her sister Dionyse Fitzwilliam, who is the show's Executive Producer. Casting calls for the second season are currently being held in Barbados, Cayman Islands, Jamaica and Trinidad and Tobago. The casting calls are also being facilitated online to make it more accessible for potential participants throughout the region. The first show will be aired in October. About Cable & Wireless Communications: Cable & Wireless Communications Plc (CWC) is a full service communications and entertainment provider, operating in the Caribbean and Latin America. With annual sales of over $2.4 billion, it operates both mobile and fixed networks, supported by submarine and terrestrial optical fibre backhaul capacity. Through the acquisition of Columbus International Inc. on 31 March 2015, CWC now delivers superior high-speed mobile data, broadband and TV/video services. It has leading market positions in Mobile, Fixed Line, Broadband and TV consumer offers. Through its business division, CWC provides data centre hosting, domestic and international managed network services, and customised IT service solutions, utilising cloud technology to serve business and government customers. The company also operates a state-of-the-art subsea fibre optic cable network that spans more than 42,000 km -- the most extensive in the region -- as well as 38,000 km of terrestrial fibre providing wholesale and carrier backhaul capacity. CWC has more than 7,500 employees serving over 6 million customers (Mobile 3.8m; Fixed Line 1.1m; TV 430k and Broadband 650k) as well as over 125k corporate clients across 42 countries. The Company's leading brands include; LIME and Flow in the Caribbean; BTC in The Bahamas; Mas Movil in Panama; C&W Business and C&W Networks. CWC is the market leader in most products offered and territories served. It is a major contributor to local communities through its corporate social responsibility programmes. Cable & Wireless Communications' shares are quoted on the London Stock Exchange under the ticker CWC. The company is headquartered in London with its operational hub located in Miami, within close proximity to the Caribbean and Latin America. For more information visit:http://www.cwc.com. \|\| US$160M C&W Investment for Barbados: BRIDGETOWN, BARBADOS--(Marketwired - Jul 16, 2015) - C&W is investing US$160M in Barbados as the Company rolls out its new retail brand Flow on the island as part of its merger with Columbus Communications. Barbados is the first country to launch the newly combined retail brand. Niall Sheehy, Country Manager of the 'new' Flow, revealed a number of significant developments for Barbados. "What we have today is the product of two legacies working in unison to meet our customers' needs," said Sheehy. Under the new consumer brand Flow, the company has combined the strengths of the former LIME and Flow organisations and is positioning Barbados as the first country in the world with 100% Fibre-to-the-Home (FTTH) broadband connectivity. The FTTH network will allow the Company to bring new and cutting edge services to its customers. As a start, customers will receive telephone (mobile and landline) video, audio, television and just about any other kind of digital data stream using Flow's comprehensive FTTH broadband connection. Sheehy indicated that the consumers will benefit from bundling of products, new and exciting apps and the ability to access products and services from a variety of platforms, via its network. Sheehy also outlined other aspects of the company's investments in Barbados as the Company rolls out its new consumer brand. "We have already moved into our new corporate home in Warrens (formerly the Orange Mall) and on August 1, we will officially transition from our Customer Care Centre at SkyMall to a new retail store under the Flow brand. This new retail outlet will serve as the touch-point for all our products and services of the combined entity," he said. "Customers will still be able to access a full Flow Customer Service Centre at Windsor Lodge (formerly LIME)," added Sheehy. "These changes are part of a wider plan to ensure that our newly combined company meets our stated goal of putting the customer at the heart of what we do." Story continues Sheehy also informed that the company is currently transitioning all of its products and services to the Flow brand. He noted that the transition phase will take some time, during which customers may still see communications using the former LIME and Flow brands. About Cable & Wireless Communications: Cable & Wireless Communications Plc (CWC) is a full service communications and entertainment provider, operating in the Caribbean and Latin America. With annual sales of over $2.4 billion, it operates both mobile and fixed networks, supported by submarine and terrestrial optical fibre backhaul capacity. Through the acquisition of Columbus International Inc. on 31 March 2015, CWC now delivers superior high-speed mobile data, broadband and TV/video services. It has leading market positions in Mobile, Fixed Line, Broadband and TV consumer offers. Through its business division, CWC provides data centre hosting, domestic and international managed network services, and customised IT service solutions, utilising cloud technology to serve business and government customers. The company also operates a state-of-the-art subsea fibre optic cable network that spans more than 42,000 km -- the most extensive in the region -- as well as 38,000 km of terrestrial fibre providing wholesale and carrier backhaul capacity. CWC has more than 7,500 employees serving over 6 million customers (Mobile 3.8m; Fixed Line 1.1m; TV 430k and Broadband 650k) as well as over 125k corporate clients across 42 countries. The Company's leading brands include; LIME and Flow in the Caribbean; BTC in The Bahamas; Mas Movil in Panama; C&W Business and C&W Networks. CWC is the market leader in most products offered and territories served. It is a major contributor to local communities through its corporate social responsibility programmes. Cable & Wireless Communications' shares are quoted on the London Stock Exchange under the ticker CWC. The company is headquartered in London with its operational hub located in Miami, within close proximity to the Caribbean and Latin America. For more information visit: http://www.cwc.com . \|\| US$160M C&W Investment for Barbados: BRIDGETOWN, BARBADOS--(Marketwired - Jul 16, 2015) - C&W is investing US$160M in Barbados as the Company rolls out its new retail brand Flow on the island as part of its merger with Columbus Communications. Barbados is the first country to launch the newly combined retail brand. Niall Sheehy, Country Manager of the 'new' Flow, revealed a number of significant developments for Barbados. "What we have today is the product of two legacies working in unison to meet our customers' needs," said Sheehy. Under the new consumer brand Flow, the company has combined the strengths of the former LIME and Flow organisations and is positioning Barbados as the first country in the world with 100% Fibre-to-the-Home (FTTH) broadband connectivity. The FTTH network will allow the Company to bring new and cutting edge services to its customers. As a start, customers will receive telephone (mobile and landline) video, audio, television and just about any other kind of digital data stream using Flow's comprehensive FTTH broadband connection. Sheehy indicated that the consumers will benefit from bundling of products, new and exciting apps and the ability to access products and services from a variety of platforms, via its network. Sheehy also outlined other aspects of the company's investments in Barbados as the Company rolls out its new consumer brand. "We have already moved into our new corporate home in Warrens (formerly the Orange Mall) and on August 1, we will officially transition from our Customer Care Centre at SkyMall to a new retail store under the Flow brand. This new retail outlet will serve as the touch-point for all our products and services of the combined entity," he said. "Customers will still be able to access a full Flow Customer Service Centre at Windsor Lodge (formerly LIME)," added Sheehy. "These changes are part of a wider plan to ensure that our newly combined company meets our stated goal of putting the customer at the heart of what we do." Sheehy also informed that the company is currently transitioning all of its products and services to the Flow brand. He noted that the transition phase will take some time, during which customers may still see communications using the former LIME and Flow brands. About Cable & Wireless Communications: Cable & Wireless Communications Plc (CWC) is a full service communications and entertainment provider, operating in the Caribbean and Latin America. With annual sales of over $2.4 billion, it operates both mobile and fixed networks, supported by submarine and terrestrial optical fibre backhaul capacity. Through the acquisition of Columbus International Inc. on 31 March 2015, CWC now delivers superior high-speed mobile data, broadband and TV/video services. It has leading market positions in Mobile, Fixed Line, Broadband and TV consumer offers. Through its business division, CWC provides data centre hosting, domestic and international managed network services, and customised IT service solutions, utilising cloud technology to serve business and government customers. The company also operates a state-of-the-art subsea fibre optic cable network that spans more than 42,000 km -- the most extensive in the region -- as well as 38,000 km of terrestrial fibre providing wholesale and carrier backhaul capacity. CWC has more than 7,500 employees serving over 6 million customers (Mobile 3.8m; Fixed Line 1.1m; TV 430k and Broadband 650k) as well as over 125k corporate clients across 42 countries. The Company's leading brands include; LIME and Flow in the Caribbean; BTC in The Bahamas; Mas Movil in Panama; C&W Business and C&W Networks. CWC is the market leader in most products offered and territories served. It is a major contributor to local communities through its corporate social responsibility programmes. Cable & Wireless Communications' shares are quoted on the London Stock Exchange under the ticker CWC. The company is headquartered in London with its operational hub located in Miami, within close proximity to the Caribbean and Latin America. For more information visit:http://www.cwc.com. \|\| Trading Google earnings: 3 stocks to buy: Google (NASDAQ: GOOGL) shares spiked following a strong quarterly earnings report Thursday, and CNBC "Fast Money" traders jumped on the bandwagon with investors. "I think the stock's got real runway here. I think it can turn and go a lot higher," said trader David Seaburg. The Internet giant's stock surged more than 10 percent in extended trading as second-quarter profit of $6.99 per share topped analysts' expectations. Though revenue fell slightly short of expectations and crucial ad metrics were mixed, markets cheered signs of expense control and strong signs for the YouTube video platform. "I thought it was undervalued before. This is not a crazy valuation here," said trader Karen Finerman, who owns Google stock. Read More Google shares jump as profits handily beat expectations Google seems primed to move higher, and investors should hold it with $600 per share as a floor, said trader Guy Adami. It closed the regular session above $601 before the after-hours spike. Trader Brian Kelly added that he saw positive signs in financial discipline and YouTube, but he would wait for a pullback to buy Google shares. A post-earnings spike in Netflix (NASDAQ: NFLX) shares, among other names, helped push the Nasdaq Composite (NASDAQ: .IXIC) to a record close Thursday. Looking forward in the technology sector, Kelly sees upside in Microsoft (NASDAQ: MSFT) . Read More Overseas growth is driving Netflix stock surge: Analyst Adami also noted that Facebook (NASDAQ: FB) looks to be "breaking out." The stock has gone about 16 percent higher this year. Disclosures: Brian Kelly Brian Kelly is long BBRY, BTC=; ITB, TAN, TLT, TSL and euro. He is short yuan and yen. Today he bought ITB. Karen Finerman Karen is long BABA, BAC, C, FINL, FL, GOOG, GOOGL, JPM, KORS, M, URI, BABA puts and URI calls. She is short SPY. Her firm is long ANTM, AAPL, BAC, C, DIS, FBT, FINL, FL, GILD, GOOG, GOOGL, GPS, IBB, JPM, KORS, M, SUNE, URI, XBI, KORS call spreads, URI calls, KORS puts and SPY put spreads. Her firm is short IWM, SPY and MDY. Karen Finerman is on the board of GrafTech International. Story continues Guy Adami Guy Adami is long CELG, EXAS and INTC. Guy Adami's wife, Linda Snow, works at Merck. More From CNBC Top News and Analysis Latest News Video Personal Finance \|\| Trading Google earnings: 3 stocks to buy: Google(NASDAQ: GOOGL)shares spiked following a strong quarterly earnings report Thursday, and CNBC"Fast Money"traders jumped on the bandwagon with investors. "I think the stock's got real runway here. I think it can turn and go a lot higher," said trader David Seaburg. The Internet giant's stock surged more than 10 percent in extended trading as second-quarter profit of $6.99 per share topped analysts' expectations. Though revenue fell slightly short of expectations and crucial ad metrics were mixed, markets cheered signs of expense control and strong signs for the YouTube video platform. "I thought it was undervalued before. This is not a crazy valuation here," said trader Karen Finerman, who owns Google stock. Read MoreGoogle shares jump as profits handily beat expectations Google seems primed to move higher, and investors should hold it with $600 per share as a floor, said trader Guy Adami. It closed the regular session above $601 before the after-hours spike. Trader Brian Kelly added that he saw positive signs in financial discipline and YouTube, but he would wait for a pullback to buy Google shares. A post-earnings spike in Netflix(NASDAQ: NFLX)shares, among other names, helped push the Nasdaq Composite(NASDAQ: .IXIC)to a record close Thursday. Looking forward in the technology sector, Kelly sees upside in Microsoft(NASDAQ: MSFT). Read MoreOverseas growth is driving Netflix stock surge: Analyst Adami also noted that Facebook(NASDAQ: FB)looks to be "breaking out." The stock has gone about 16 percent higher this year. Disclosures: Brian Kelly Brian Kelly is long BBRY, BTC=; ITB, TAN, TLT, TSL and euro. He is short yuan and yen. Today he bought ITB. Karen Finerman Karen is long BABA, BAC, C, FINL, FL, GOOG, GOOGL, JPM, KORS, M, URI, BABA puts and URI calls. She is short SPY. Her firm is long ANTM, AAPL, BAC, C, DIS, FBT, FINL, FL, GILD, GOOG, GOOGL, GPS, IBB, JPM, KORS, M, SUNE, URI, XBI, KORS call spreads, URI calls, KORS puts and SPY put spreads. Her firm is short IWM, SPY and MDY. Karen Finerman is on the board of GrafTech International. Guy Adami Guy Adami is long CELG, EXAS and INTC. Guy Adami's wife, Linda Snow, works at Merck. More From CNBC • Top News and Analysis • Latest News Video • Personal Finance [Social Media Buzz] LIVE: Profit = $1,892.99 (1.33 %). BUY B518.13 @ $274.00 (#BTCe). SELL @ $275.80 (#HitBTC) #bitcoin #btc - http://www.projectcoin.org \|\| Current price: 254.42€ $BTCEUR $btc #bitcoin 2015-07-23 17:00:05 CEST \|\| In the last 10 mins, there were arb opps spanning 22 exchange pair(s), yielding profits ranging between $0.00 and $2,180.42 #bitcoin #btc \|\| Current price: 251.84€ $BTCEUR $btc #bitcoin 2015-07-23 22:00:10 CEST \|\| LIVE: Profit = $1,812.88 (1.48 %). BUY B445.13 @ $274.00 (#BTCe). SELL @ $2...	288.28, 288.70, 292.69, 293.62, 294.43, 289.59, 287.72, 284.65, 281.60, 282.61
Given the historical Bitcoin prices from the last 90 days, predict the next 10 daily closing prices. The historical prices are: 437.75, 420.74, 424.95, 424.54, 432.15, 432.52, 433.50, 437.70, 435.12, 423.99, 421.65, 410.94, 400.57, 407.71, 414.32, 413.97, 414.86, 417.13, 421.69, 411.62, 414.07, 416.44, 416.83, 417.01, 420.62, 409.55, 410.44, 413.76, 413.31, 418.09, 418.04, 416.39, 417.18, 417.95, 426.77, 424.23, 416.52, 414.82, 416.73, 417.96, 420.87, 420.90, 421.44, 424.03, 423.41, 422.74, 420.35, 419.41, 421.56, 422.48, 425.19, 423.73, 424.28, 429.71, 430.57, 427.40, 428.59, 435.51, 441.39, 449.42, 445.74, 450.28, 458.55, 461.43, 466.09, 444.69, 449.01, 455.10, 448.32, 451.88, 444.67, 450.30, 446.72, 447.98, 459.60, 458.54, 458.55, 460.48, 450.89, 452.73, 454.77, 455.67, 455.67, 457.57, 454.16, 453.78, 454.62, 438.71, 442.68, 443.19.	[Bitcoin Technical Analysis for 2016-05-21] Volume: 42762300, RSI (14-day): 44.57, 50-day EMA: 442.93, 200-day EMA: 401.75 [Wider Market Context] None available. [Recent News (last 7 days)] Bitcoin exchange Coinbase to add ether currency to trading platform: By Gertrude Chavez-Dreyfuss NEW YORK (Reuters) - Bitcoin exchange Coinbase said on Thursday it will add digital currency ether on its trading platform next Tuesday. The addition of ether comes given the surge in interest in the digital asset among major financial institutions such as Barclays [BARCR.UL] and UBS [UBSAG.UL] as well as other enterprises worldwide like IBM (IBM.N), which are trying to explore the Ethereum network. Ether is the digital currency for the Ethereum platform, a blockchain, or public ledger that can create decentralized applications. Ethereum, which uses ether to execute peer-to-peer contracts automatically without the need for intermediaries, was co-founded and invented by 22-year old Russian Canadian programmer Vitalik Buterin. "We're very excited about Ethereum. There has been a tonne of progress made in the last six to nine months," said Adam White, vice president of business development at Coinbase in an interview with Reuters. "We have seen hundreds of emerging decentralized apps (applications) launched on Ethereum." He added that bitcoin cannot mirror Ethereum's "scripting language," so both bitcoin and ether can co-exist and will not necessarily compete with each other. Coinbase also plans to change the name of its platform to GDAX (Global Digital Asset Exchange), said White. The name Coinbase, however, will be retained for its retail service such as exchanging dollars for bitcoin or ether, he added. Coinbase, widely believed to be the largest bitcoin-focused company in terms of investment, will offer ether/dollar and ether/bitcoin currency pairs on GDAX. The name change was made because the company will add more digital assets for trading on its exchange, White said. According to coinmarketcap.com, ether is trading at $14.28 late on Thursday, with a market capitalisation of about $1.1 billion, the second largest behind bitcoin. Bitcoin currently has a market cap of $6.9 billion. Daily volume for ether is around $48 million, while average daily volume for bitcoin is $87.2 million. Story continues At the beginning of the year, ether traded at just $1 per token and it is the fastest-rising digital currency. White said ether will be available on GDAX in most states except New York because Coinbase is still in the process of applying for a licence in the state. Coinbase's move to add ether trading to its currency exchange platform came after New York approved the application of Gemini Trust Company, founded by investors Tyler and Cameron Winklevoss, to trade ether on its exchange. "What's powerful about ethereum is that I can write self-executing contracts and I can run them on Ethereum and it's not on any central server or computer," said White. (Reporting by Gertrude Chavez-Dreyfuss; Editing by Bernard Orr) \|\| Bitcoin exchange Coinbase to add ether currency to trading platform: By Gertrude Chavez-Dreyfuss NEW YORK (Reuters) - Bitcoin exchange Coinbase said on Thursday it will add digital currency ether on its trading platform next Tuesday. The addition of ether comes given the surge in interest in the digital asset among major financial institutions such as Barclays [BARCR.UL] and UBS [UBSAG.UL] as well as other enterprises worldwide like IBM (IBM.N), which are trying to explore the Ethereum network. Ether is the digital currency for the Ethereum platform, a blockchain, or public ledger that can create decentralized applications. Ethereum, which uses ether to execute peer-to-peer contracts automatically without the need for intermediaries, was co-founded and invented by 22-year old Russian Canadian programmer Vitalik Buterin. "We're very excited about Ethereum. There has been a tonne of progress made in the last six to nine months," said Adam White, vice president of business development at Coinbase in an interview with Reuters. "We have seen hundreds of emerging decentralized apps (applications) launched on Ethereum." He added that bitcoin cannot mirror Ethereum's "scripting language," so both bitcoin and ether can co-exist and will not necessarily compete with each other. Coinbase also plans to change the name of its platform to GDAX (Global Digital Asset Exchange), said White. The name Coinbase, however, will be retained for its retail service such as exchanging dollars for bitcoin or ether, he added. Coinbase, widely believed to be the largest bitcoin-focused company in terms of investment, will offer ether/dollar and ether/bitcoin currency pairs on GDAX. The name change was made because the company will add more digital assets for trading on its exchange, White said. According to coinmarketcap.com, ether is trading at $14.28 late on Thursday, with a market capitalisation of about $1.1 billion, the second largest behind bitcoin. Bitcoin currently has a market cap of $6.9 billion. Daily volume for ether is around $48 million, while average daily volume for bitcoin is $87.2 million. Story continues At the beginning of the year, ether traded at just $1 per token and it is the fastest-rising digital currency. White said ether will be available on GDAX in most states except New York because Coinbase is still in the process of applying for a licence in the state. Coinbase's move to add ether trading to its currency exchange platform came after New York approved the application of Gemini Trust Company, founded by investors Tyler and Cameron Winklevoss, to trade ether on its exchange. "What's powerful about ethereum is that I can write self-executing contracts and I can run them on Ethereum and it's not on any central server or computer," said White. (Reporting by Gertrude Chavez-Dreyfuss; Editing by Bernard Orr) \|\| Bitcoin exchange Coinbase to add ether currency to trading platform: By Gertrude Chavez-Dreyfuss NEW YORK (Reuters) - Bitcoin exchange Coinbase said on Thursday it will add digital currency ether on its trading platform next Tuesday. The addition of ether comes given the surge in interest in the digital asset among major financial institutions such as Barclays [BARCR.UL] and UBS [UBSAG.UL] as well as other enterprises worldwide like IBM (IBM.N), which are trying to explore the Ethereum network. Ether is the digital currency for the Ethereum platform, a blockchain, or public ledger that can create decentralized applications. Ethereum, which uses ether to execute peer-to-peer contracts automatically without the need for intermediaries, was co-founded and invented by 22-year old Russian Canadian programmer Vitalik Buterin. "We're very excited about Ethereum. There has been a tonne of progress made in the last six to nine months," said Adam White, vice president of business development at Coinbase in an interview with Reuters. "We have seen hundreds of emerging decentralized apps (applications) launched on Ethereum." He added that bitcoin cannot mirror Ethereum's "scripting language," so both bitcoin and ether can co-exist and will not necessarily compete with each other. Coinbase also plans to change the name of its platform to GDAX (Global Digital Asset Exchange), said White. The name Coinbase, however, will be retained for its retail service such as exchanging dollars for bitcoin or ether, he added. Coinbase, widely believed to be the largest bitcoin-focused company in terms of investment, will offer ether/dollar and ether/bitcoin currency pairs on GDAX. The name change was made because the company will add more digital assets for trading on its exchange, White said. According to coinmarketcap.com, ether is trading at $14.28 late on Thursday, with a market capitalisation of about $1.1 billion, the second largest behind bitcoin. Bitcoin currently has a market cap of $6.9 billion. Daily volume for ether is around $48 million, while average daily volume for bitcoin is $87.2 million. Story continues At the beginning of the year, ether traded at just $1 per token and it is the fastest-rising digital currency. White said ether will be available on GDAX in most states except New York because Coinbase is still in the process of applying for a licence in the state. Coinbase's move to add ether trading to its currency exchange platform came after New York approved the application of Gemini Trust Company, founded by investors Tyler and Cameron Winklevoss, to trade ether on its exchange. "What's powerful about ethereum is that I can write self-executing contracts and I can run them on Ethereum and it's not on any central server or computer," said White. (Reporting by Gertrude Chavez-Dreyfuss; Editing by Bernard Orr) \|\| Bitcoin exchange Coinbase to add ether currency to trading platform: By Gertrude Chavez-Dreyfuss NEW YORK (Reuters) - Bitcoin exchange Coinbase said on Thursday it will add digital currency ether on its trading platform next Tuesday. The addition of ether comes given the surge in interest in the digital asset among major financial institutions such as Barclays [BARCR.UL] and UBS [UBSAG.UL] as well as other enterprises worldwide like IBM, which are trying to explore the Ethereum network. Ether is the digital currency for the Ethereum platform, a blockchain, or public ledger that can create decentralized applications. Ethereum, which uses ether to execute peer-to-peer contracts automatically without the need for intermediaries, was co-founded and invented by 22-year old Russian Canadian programer Vitalik Buterin. "We're very excited about Ethereum. There has been a ton of progress made in the last six to nine months," said Adam White, vice president of business development at Coinbase in an interview with Reuters. "We have seen hundreds of emerging decentralized apps (applications) launched on Ethereum." He added that bitcoin cannot mirror Ethereum's "scripting language," so both bitcoin and ether can co-exist and will not necessarily compete with each other. Coinbase also plans to change the name of its platform to GDAX (Global Digital Asset Exchange), said White. The name Coinbase, however, will be retained for its retail service such as exchanging dollars for bitcoin or ether, he added. Coinbase, widely believed to be the largest bitcoin-focused company in terms of investment, will offer ether/dollar and ether/bitcoin currency pairs on GDAX. The name change was made because the company will add more digital assets for trading on its exchange, White said. According to coinmarketcap.com, ether is trading at $14.28 late on Thursday, with a market capitalization of about $1.1 billion, the second largest behind bitcoin. Bitcoin currently has a market cap of $6.9 billion. Daily volume for ether is around $48 million, while average daily volume for bitcoin is $87.2 million. Story continues At the beginning of the year, ether traded at just $1 per token and it is the fastest-rising digital currency. White said ether will be available on GDAX in most states except New York because Coinbase is still in the process of applying for a license in the state. Coinbase's move to add ether trading to its currency exchange platform came after New York approved the application of Gemini Trust Company, founded by investors Tyler and Cameron Winklevoss, to trade ether on its exchange. "What's powerful about ethereum is that I can write self-executing contracts and I can run them on Ethereum and it's not on any central server or computer," said White. (Reporting by Gertrude Chavez-Dreyfuss; Editing by Bernard Orr) \|\| Bitcoin exchange Coinbase to add ether currency to trading platform: By Gertrude Chavez-Dreyfuss NEW YORK (Reuters) - Bitcoin exchange Coinbase said on Thursday it will add digital currency ether on its trading platform next Tuesday. The addition of ether comes given the surge in interest in the digital asset among major financial institutions such as Barclays [BARCR.UL] and UBS [UBSAG.UL] as well as other enterprises worldwide like IBM, which are trying to explore the Ethereum network. Ether is the digital currency for the Ethereum platform, a blockchain, or public ledger that can create decentralized applications. Ethereum, which uses ether to execute peer-to-peer contracts automatically without the need for intermediaries, was co-founded and invented by 22-year old Russian Canadian programer Vitalik Buterin. "We're very excited about Ethereum. There has been a ton of progress made in the last six to nine months," said Adam White, vice president of business development at Coinbase in an interview with Reuters. "We have seen hundreds of emerging decentralized apps (applications) launched on Ethereum." He added that bitcoin cannot mirror Ethereum's "scripting language," so both bitcoin and ether can co-exist and will not necessarily compete with each other. Coinbase also plans to change the name of its platform to GDAX (Global Digital Asset Exchange), said White. The name Coinbase, however, will be retained for its retail service such as exchanging dollars for bitcoin or ether, he added. Coinbase, widely believed to be the largest bitcoin-focused company in terms of investment, will offer ether/dollar and ether/bitcoin currency pairs on GDAX. The name change was made because the company will add more digital assets for trading on its exchange, White said. According to coinmarketcap.com, ether is trading at $14.28 late on Thursday, with a market capitalization of about $1.1 billion, the second largest behind bitcoin. Bitcoin currently has a market cap of $6.9 billion. Daily volume for ether is around $48 million, while average daily volume for bitcoin is $87.2 million. At the beginning of the year, ether traded at just $1 per token and it is the fastest-rising digital currency. White said ether will be available on GDAX in most states except New York because Coinbase is still in the process of applying for a license in the state. Coinbase's move to add ether trading to its currency exchange platform came after New York approved the application of Gemini Trust Company, founded by investors Tyler and Cameron Winklevoss, to trade ether on its exchange. "What's powerful about ethereum is that I can write self-executing contracts and I can run them on Ethereum and it's not on any central server or computer," said White. (Reporting by Gertrude Chavez-Dreyfuss; Editing by Bernard Orr) View comments \|\| Bitcoin exchange Coinbase to add ether currency to trading platform: By Gertrude Chavez-Dreyfuss NEW YORK (Reuters) - Bitcoin exchange Coinbase said on Thursday it will add digital currency ether on its trading platform next Tuesday. The addition of ether comes given the surge in interest in the digital asset among major financial institutions such as Barclays [BARCR.UL] and UBS [UBSAG.UL] as well as other enterprises worldwide like IBM, which are trying to explore the Ethereum network. Ether is the digital currency for the Ethereum platform, a blockchain, or public ledger that can create decentralized applications. Ethereum, which uses ether to execute peer-to-peer contracts automatically without the need for intermediaries, was co-founded and invented by 22-year old Russian Canadian programer Vitalik Buterin. "We're very excited about Ethereum. There has been a ton of progress made in the last six to nine months," said Adam White, vice president of business development at Coinbase in an interview with Reuters. "We have seen hundreds of emerging decentralized apps (applications) launched on Ethereum." He added that bitcoin cannot mirror Ethereum's "scripting language," so both bitcoin and ether can co-exist and will not necessarily compete with each other. Coinbase also plans to change the name of its platform to GDAX (Global Digital Asset Exchange), said White. The name Coinbase, however, will be retained for its retail service such as exchanging dollars for bitcoin or ether, he added. Coinbase, widely believed to be the largest bitcoin-focused company in terms of investment, will offer ether/dollar and ether/bitcoin currency pairs on GDAX. The name change was made because the company will add more digital assets for trading on its exchange, White said. According to coinmarketcap.com, ether is trading at $14.28 late on Thursday, with a market capitalization of about $1.1 billion, the second largest behind bitcoin. Bitcoin currently has a market cap of $6.9 billion. Daily volume for ether is around $48 million, while average daily volume for bitcoin is $87.2 million. Story continues At the beginning of the year, ether traded at just $1 per token and it is the fastest-rising digital currency. White said ether will be available on GDAX in most states except New York because Coinbase is still in the process of applying for a license in the state. Coinbase's move to add ether trading to its currency exchange platform came after New York approved the application of Gemini Trust Company, founded by investors Tyler and Cameron Winklevoss, to trade ether on its exchange. "What's powerful about ethereum is that I can write self-executing contracts and I can run them on Ethereum and it's not on any central server or computer," said White. (Reporting by Gertrude Chavez-Dreyfuss; Editing by Bernard Orr) \|\| Bitcoin exchange Coinbase to add ether currency to trading platform: By Gertrude Chavez-Dreyfuss NEW YORK (Reuters) - Bitcoin exchange Coinbase said on Thursday it will add digital currency ether on its trading platform next Tuesday. The addition of ether comes given the surge in interest in the digital asset among major financial institutions such as Barclays [BARCR.UL] and UBS [UBSAG.UL] as well as other enterprises worldwide like IBM, which are trying to explore the Ethereum network. Ether is the digital currency for the Ethereum platform, a blockchain, or public ledger that can create decentralized applications. Ethereum, which uses ether to execute peer-to-peer contracts automatically without the need for intermediaries, was co-founded and invented by 22-year old Russian Canadian programer Vitalik Buterin. "We're very excited about Ethereum. There has been a ton of progress made in the last six to nine months," said Adam White, vice president of business development at Coinbase in an interview with Reuters. "We have seen hundreds of emerging decentralized apps (applications) launched on Ethereum." He added that bitcoin cannot mirror Ethereum's "scripting language," so both bitcoin and ether can co-exist and will not necessarily compete with each other. Coinbase also plans to change the name of its platform to GDAX (Global Digital Asset Exchange), said White. The name Coinbase, however, will be retained for its retail service such as exchanging dollars for bitcoin or ether, he added. Coinbase, widely believed to be the largest bitcoin-focused company in terms of investment, will offer ether/dollar and ether/bitcoin currency pairs on GDAX. The name change was made because the company will add more digital assets for trading on its exchange, White said. According to coinmarketcap.com, ether is trading at $14.28 late on Thursday, with a market capitalization of about $1.1 billion, the second largest behind bitcoin. Bitcoin currently has a market cap of $6.9 billion. Daily volume for ether is around $48 million, while average daily volume for bitcoin is $87.2 million. Story continues At the beginning of the year, ether traded at just $1 per token and it is the fastest-rising digital currency. White said ether will be available on GDAX in most states except New York because Coinbase is still in the process of applying for a license in the state. Coinbase's move to add ether trading to its currency exchange platform came after New York approved the application of Gemini Trust Company, founded by investors Tyler and Cameron Winklevoss, to trade ether on its exchange. "What's powerful about ethereum is that I can write self-executing contracts and I can run them on Ethereum and it's not on any central server or computer," said White. (Reporting by Gertrude Chavez-Dreyfuss; Editing by Bernard Orr) \|\| Bitcoin exchange Coinbase to add ether currency to trading platform: By Gertrude Chavez-Dreyfuss NEW YORK (Reuters) - Bitcoin exchange Coinbase said on Thursday it will add digital currency ether on its trading platform next Tuesday. The addition of ether comes given the surge in interest in the digital asset among major financial institutions such as Barclays [BARCR.UL] and UBS [UBSAG.UL] as well as other enterprises worldwide like IBM, which are trying to explore the Ethereum network. Ether is the digital currency for the Ethereum platform, a blockchain, or public ledger that can create decentralized applications. Ethereum, which uses ether to execute peer-to-peer contracts automatically without the need for intermediaries, was co-founded and invented by 22-year old Russian Canadian programer Vitalik Buterin. "We're very excited about Ethereum. There has been a ton of progress made in the last six to nine months," said Adam White, vice president of business development at Coinbase in an interview with Reuters. "We have seen hundreds of emerging decentralized apps (applications) launched on Ethereum." He added that bitcoin cannot mirror Ethereum's "scripting language," so both bitcoin and ether can co-exist and will not necessarily compete with each other. Coinbase also plans to change the name of its platform to GDAX (Global Digital Asset Exchange), said White. The name Coinbase, however, will be retained for its retail service such as exchanging dollars for bitcoin or ether, he added. Coinbase, widely believed to be the largest bitcoin-focused company in terms of investment, will offer ether/dollar and ether/bitcoin currency pairs on GDAX. The name change was made because the company will add more digital assets for trading on its exchange, White said. According to coinmarketcap.com, ether is trading at $14.28 late on Thursday, with a market capitalization of about $1.1 billion, the second largest behind bitcoin. Bitcoin currently has a market cap of $6.9 billion. Daily volume for ether is around $48 million, while average daily volume for bitcoin is $87.2 million. Story continues At the beginning of the year, ether traded at just $1 per token and it is the fastest-rising digital currency. White said ether will be available on GDAX in most states except New York because Coinbase is still in the process of applying for a license in the state. Coinbase's move to add ether trading to its currency exchange platform came after New York approved the application of Gemini Trust Company, founded by investors Tyler and Cameron Winklevoss, to trade ether on its exchange. "What's powerful about ethereum is that I can write self-executing contracts and I can run them on Ethereum and it's not on any central server or computer," said White. (Reporting by Gertrude Chavez-Dreyfuss; Editing by Bernard Orr) \|\| Bitcoin exchange Coinbase to add ether currency to trading platform: By Gertrude Chavez-Dreyfuss NEW YORK (Reuters) - Bitcoin exchange Coinbase said on Thursday it will add digital currency ether on its trading platform next Tuesday. The addition of ether comes given the surge in interest in the digital asset among major financial institutions such as Barclays [BARCR.UL] and UBS [UBSAG.UL] as well as other enterprises worldwide like IBM, which are trying to explore the Ethereum network. Ether is the digital currency for the Ethereum platform, a blockchain, or public ledger that can create decentralized applications. Ethereum, which uses ether to execute peer-to-peer contracts automatically without the need for intermediaries, was co-founded and invented by 22-year old Russian Canadian programer Vitalik Buterin. "We're very excited about Ethereum. There has been a ton of progress made in the last six to nine months," said Adam White, vice president of business development at Coinbase in an interview with Reuters. "We have seen hundreds of emerging decentralized apps (applications) launched on Ethereum." He added that bitcoin cannot mirror Ethereum's "scripting language," so both bitcoin and ether can co-exist and will not necessarily compete with each other. Coinbase also plans to change the name of its platform to GDAX (Global Digital Asset Exchange), said White. The name Coinbase, however, will be retained for its retail service such as exchanging dollars for bitcoin or ether, he added. Coinbase, widely believed to be the largest bitcoin-focused company in terms of investment, will offer ether/dollar and ether/bitcoin currency pairs on GDAX. The name change was made because the company will add more digital assets for trading on its exchange, White said. According to coinmarketcap.com, ether is trading at $14.28 late on Thursday, with a market capitalization of about $1.1 billion, the second largest behind bitcoin. Bitcoin currently has a market cap of $6.9 billion. Daily volume for ether is around $48 million, while average daily volume for bitcoin is $87.2 million. At the beginning of the year, ether traded at just $1 per token and it is the fastest-rising digital currency. White said ether will be available on GDAX in most states except New York because Coinbase is still in the process of applying for a license in the state. Coinbase's move to add ether trading to its currency exchange platform came after New York approved the application of Gemini Trust Company, founded by investors Tyler and Cameron Winklevoss, to trade ether on its exchange. "What's powerful about ethereum is that I can write self-executing contracts and I can run them on Ethereum and it's not on any central server or computer," said White. (Reporting by Gertrude Chavez-Dreyfuss; Editing by Bernard Orr) View comments \|\| Bitcoin exchange Coinbase to add ether currency to trading platform: By Gertrude Chavez-Dreyfuss NEW YORK (Reuters) - Bitcoin exchange Coinbase said on Thursday it will add digital currency ether on its trading platform next Tuesday. The addition of ether comes given the surge in interest in the digital asset among major financial institutions such as Barclays [BARCR.UL] and UBS [UBSAG.UL] as well as other enterprises worldwide like IBM, which are trying to explore the Ethereum network. Ether is the digital currency for the Ethereum platform, a blockchain, or public ledger that can create decentralized applications. Ethereum, which uses ether to execute peer-to-peer contracts automatically without the need for intermediaries, was co-founded and invented by 22-year old Russian Canadian programer Vitalik Buterin. "We're very excited about Ethereum. There has been a ton of progress made in the last six to nine months," said Adam White, vice president of business development at Coinbase in an interview with Reuters. "We have seen hundreds of emerging decentralized apps (applications) launched on Ethereum." He added that bitcoin cannot mirror Ethereum's "scripting language," so both bitcoin and ether can co-exist and will not necessarily compete with each other. Coinbase also plans to change the name of its platform to GDAX (Global Digital Asset Exchange), said White. The name Coinbase, however, will be retained for its retail service such as exchanging dollars for bitcoin or ether, he added. Coinbase, widely believed to be the largest bitcoin-focused company in terms of investment, will offer ether/dollar and ether/bitcoin currency pairs on GDAX. The name change was made because the company will add more digital assets for trading on its exchange, White said. According to coinmarketcap.com, ether is trading at $14.28 late on Thursday, with a market capitalization of about $1.1 billion, the second largest behind bitcoin. Bitcoin currently has a market cap of $6.9 billion. Daily volume for ether is around $48 million, while average daily volume for bitcoin is $87.2 million. At the beginning of the year, ether traded at just $1 per token and it is the fastest-rising digital currency. White said ether will be available on GDAX in most states except New York because Coinbase is still in the process of applying for a license in the state. Coinbase's move to add ether trading to its currency exchange platform came after New York approved the application of Gemini Trust Company, founded by investors Tyler and Cameron Winklevoss, to trade ether on its exchange. "What's powerful about ethereum is that I can write self-executing contracts and I can run them on Ethereum and it's not on any central server or computer," said White. (Reporting by Gertrude Chavez-Dreyfuss; Editing by Bernard Orr) \|\| Bitcoin exchange Coinbase to add ether currency to trading platform: By Gertrude Chavez-Dreyfuss NEW YORK (Reuters) - Bitcoin exchange Coinbase said on Thursday it will add digital currency ether on its trading platform next Tuesday. The addition of ether comes given the surge in interest in the digital asset among major financial institutions such as Barclays [BARCR.UL] and UBS [UBSAG.UL] as well as other enterprises worldwide like IBM, which are trying to explore the Ethereum network. Ether is the digital currency for the Ethereum platform, a blockchain, or public ledger that can create decentralized applications. Ethereum, which uses ether to execute peer-to-peer contracts automatically without the need for intermediaries, was co-founded and invented by 22-year old Russian Canadian programer Vitalik Buterin. "We're very excited about Ethereum. There has been a ton of progress made in the last six to nine months," said Adam White, vice president of business development at Coinbase in an interview with Reuters. "We have seen hundreds of emerging decentralized apps (applications) launched on Ethereum." He added that bitcoin cannot mirror Ethereum's "scripting language," so both bitcoin and ether can co-exist and will not necessarily compete with each other. Coinbase also plans to change the name of its platform to GDAX (Global Digital Asset Exchange), said White. The name Coinbase, however, will be retained for its retail service such as exchanging dollars for bitcoin or ether, he added. Coinbase, widely believed to be the largest bitcoin-focused company in terms of investment, will offer ether/dollar and ether/bitcoin currency pairs on GDAX. The name change was made because the company will add more digital assets for trading on its exchange, White said. According to coinmarketcap.com, ether is trading at $14.28 late on Thursday, with a market capitalization of about $1.1 billion, the second largest behind bitcoin. Bitcoin currently has a market cap of $6.9 billion. Daily volume for ether is around $48 million, while average daily volume for bitcoin is $87.2 million. At the beginning of the year, ether traded at just $1 per token and it is the fastest-rising digital currency. White said ether will be available on GDAX in most states except New York because Coinbase is still in the process of applying for a license in the state. Coinbase's move to add ether trading to its currency exchange platform came after New York approved the application of Gemini Trust Company, founded by investors Tyler and Cameron Winklevoss, to trade ether on its exchange. "What's powerful about ethereum is that I can write self-executing contracts and I can run them on Ethereum and it's not on any central server or computer," said White. (Reporting by Gertrude Chavez-Dreyfuss; Editing by Bernard Orr) View comments \|\| Bitcoin exchange Coinbase to add ether currency to trading platform: By Gertrude Chavez-Dreyfuss NEW YORK (Reuters) - Bitcoin exchange Coinbase said on Thursday it will add digital currency ether on its trading platform next Tuesday. The addition of ether comes given the surge in interest in the digital asset among major financial institutions such as Barclays [BARCR.UL] and UBS [UBSAG.UL] as well as other enterprises worldwide like IBM, which are trying to explore the Ethereum network. Ether is the digital currency for the Ethereum platform, a blockchain, or public ledger that can create decentralized applications. Ethereum, which uses ether to execute peer-to-peer contracts automatically without the need for intermediaries, was co-founded and invented by 22-year old Russian Canadian programer Vitalik Buterin. "We're very excited about Ethereum. There has been a ton of progress made in the last six to nine months," said Adam White, vice president of business development at Coinbase in an interview with Reuters. "We have seen hundreds of emerging decentralized apps (applications) launched on Ethereum." He added that bitcoin cannot mirror Ethereum's "scripting language," so both bitcoin and ether can co-exist and will not necessarily compete with each other. Coinbase also plans to change the name of its platform to GDAX (Global Digital Asset Exchange), said White. The name Coinbase, however, will be retained for its retail service such as exchanging dollars for bitcoin or ether, he added. Coinbase, widely believed to be the largest bitcoin-focused company in terms of investment, will offer ether/dollar and ether/bitcoin currency pairs on GDAX. The name change was made because the company will add more digital assets for trading on its exchange, White said. According to coinmarketcap.com, ether is trading at $14.28 late on Thursday, with a market capitalization of about $1.1 billion, the second largest behind bitcoin. Bitcoin currently has a market cap of $6.9 billion. Daily volume for ether is around $48 million, while average daily volume for bitcoin is $87.2 million. At the beginning of the year, ether traded at just $1 per token and it is the fastest-rising digital currency. White said ether will be available on GDAX in most states except New York because Coinbase is still in the process of applying for a license in the state. Coinbase's move to add ether trading to its currency exchange platform came after New York approved the application of Gemini Trust Company, founded by investors Tyler and Cameron Winklevoss, to trade ether on its exchange. "What's powerful about ethereum is that I can write self-executing contracts and I can run them on Ethereum and it's not on any central server or computer," said White. (Reporting by Gertrude Chavez-Dreyfuss; Editing by Bernard Orr) \|\| Bitcoin exchange Coinbase to add ether currency to trading platform: (Adds quotes, details about ether, and byline) By Gertrude Chavez-Dreyfuss NEW YORK, May 19 (Reuters) - Bitcoin exchange Coinbase said on Thursday it will add digital currency ether on its trading platform next Tuesday. The addition of ether comes given the surge in interest in the digital asset among major financial institutions such as Barclays and UBS as well as other enterprises worldwide like IBM, which are trying to explore the Ethereum network. Ether is the digital currency for the Ethereum platform, a blockchain, or public ledger that can create decentralized applications. Ethereum, which uses ether to execute peer-to-peer contracts automatically without the need for intermediaries, was co-founded and invented by 22-year old Russian Canadian programmer Vitalik Buterin. "We're very excited about Ethereum. There has been a ton of progress made in the last six to nine months," said Adam White, vice president of business development at Coinbase in an interview with Reuters. "We have seen hundreds of emerging decentralized apps (applications) launched on Ethereum." He added that bitcoin cannot mirror Ethereum's "scripting language," so both bitcoin and ether can co-exist and will not necessarily compete with each other. Coinbase also plans to change the name of its platform to GDAX (Global Digital Asset Exchange), said White. The name Coinbase, however, will be retained for its retail service such as exchanging dollars for bitcoin or ether, he added. Coinbase, widely believed to be the largest bitcoin-focused company in terms of investment, will offer ether/dollar and ether/bitcoin currency pairs on GDAX. The name change was made because the company will add more digital assets for trading on its exchange, White said. According to coinmarketcap.com, ether is trading at $14.28 late on Thursday, with a market capitalization of about $1.1 billion, the second largest behind bitcoin. Bitcoin currently has a market cap of $6.9 billion. Daily volume for ether is around $48 million, while average daily volume for bitcoin is $87.2 million. Story continues At the beginning of the year, ether traded at just $1 per token and it is the fastest-rising digital currency. White said ether will be available on GDAX in most states except New York because Coinbase is still in the process of applying for a license in the state. Coinbase's move to add ether trading to its currency exchange platform came after New York approved the application of Gemini Trust Company, founded by investors Tyler and Cameron Winklevoss, to trade ether on its exchange. "What's powerful about ethereum is that I can write self-executing contracts and I can run them on Ethereum and it's not on any central server or computer," said White. (Reporting by Gertrude Chavez-Dreyfuss; Editing by Bernard Orr) \|\| Bitcoin exchange Coinbase to add ether currency to trading platform: (Adds quotes, details about ether, and byline) By Gertrude Chavez-Dreyfuss NEW YORK, May 19 (Reuters) - Bitcoin exchange Coinbase said on Thursday it will add digital currency ether on its trading platform next Tuesday. The addition of ether comes given the surge in interest in the digital asset among major financial institutions such as Barclays and UBS as well as other enterprises worldwide like IBM, which are trying to explore the Ethereum network. Ether is the digital currency for the Ethereum platform, a blockchain, or public ledger that can create decentralized applications. Ethereum, which uses ether to execute peer-to-peer contracts automatically without the need for intermediaries, was co-founded and invented by 22-year old Russian Canadian programmer Vitalik Buterin. "We're very excited about Ethereum. There has been a ton of progress made in the last six to nine months," said Adam White, vice president of business development at Coinbase in an interview with Reuters. "We have seen hundreds of emerging decentralized apps (applications) launched on Ethereum." He added that bitcoin cannot mirror Ethereum's "scripting language," so both bitcoin and ether can co-exist and will not necessarily compete with each other. Coinbase also plans to change the name of its platform to GDAX (Global Digital Asset Exchange), said White. The name Coinbase, however, will be retained for its retail service such as exchanging dollars for bitcoin or ether, he added. Coinbase, widely believed to be the largest bitcoin-focused company in terms of investment, will offer ether/dollar and ether/bitcoin currency pairs on GDAX. The name change was made because the company will add more digital assets for trading on its exchange, White said. According to coinmarketcap.com, ether is trading at $14.28 late on Thursday, with a market capitalization of about $1.1 billion, the second largest behind bitcoin. Bitcoin currently has a market cap of $6.9 billion. Daily volume for ether is around $48 million, while average daily volume for bitcoin is $87.2 million. At the beginning of the year, ether traded at just $1 per token and it is the fastest-rising digital currency. White said ether will be available on GDAX in most states except New York because Coinbase is still in the process of applying for a license in the state. Coinbase's move to add ether trading to its currency exchange platform came after New York approved the application of Gemini Trust Company, founded by investors Tyler and Cameron Winklevoss, to trade ether on its exchange. "What's powerful about ethereum is that I can write self-executing contracts and I can run them on Ethereum and it's not on any central server or computer," said White. (Reporting by Gertrude Chavez-Dreyfuss; Editing by Bernard Orr) \|\| Bitcoin exchange Coinbase to add ether currency to trading platform: (Adds quotes, details about ether, and byline) By Gertrude Chavez-Dreyfuss NEW YORK, May 19 (Reuters) - Bitcoin exchange Coinbase said on Thursday it will add digital currency ether on its trading platform next Tuesday. The addition of ether comes given the surge in interest in the digital asset among major financial institutions such as Barclays and UBS as well as other enterprises worldwide like IBM, which are trying to explore the Ethereum network. Ether is the digital currency for the Ethereum platform, a blockchain, or public ledger that can create decentralized applications. Ethereum, which uses ether to execute peer-to-peer contracts automatically without the need for intermediaries, was co-founded and invented by 22-year old Russian Canadian programmer Vitalik Buterin. "We're very excited about Ethereum. There has been a ton of progress made in the last six to nine months," said Adam White, vice president of business development at Coinbase in an interview with Reuters. "We have seen hundreds of emerging decentralized apps (applications) launched on Ethereum." He added that bitcoin cannot mirror Ethereum's "scripting language," so both bitcoin and ether can co-exist and will not necessarily compete with each other. Coinbase also plans to change the name of its platform to GDAX (Global Digital Asset Exchange), said White. The name Coinbase, however, will be retained for its retail service such as exchanging dollars for bitcoin or ether, he added. Coinbase, widely believed to be the largest bitcoin-focused company in terms of investment, will offer ether/dollar and ether/bitcoin currency pairs on GDAX. The name change was made because the company will add more digital assets for trading on its exchange, White said. According to coinmarketcap.com, ether is trading at $14.28 late on Thursday, with a market capitalization of about $1.1 billion, the second largest behind bitcoin. Bitcoin currently has a market cap of $6.9 billion. Daily volume for ether is around $48 million, while average daily volume for bitcoin is $87.2 million. At the beginning of the year, ether traded at just $1 per token and it is the fastest-rising digital currency. White said ether will be available on GDAX in most states except New York because Coinbase is still in the process of applying for a license in the state. Coinbase's move to add ether trading to its currency exchange platform came after New York approved the application of Gemini Trust Company, founded by investors Tyler and Cameron Winklevoss, to trade ether on its exchange. "What's powerful about ethereum is that I can write self-executing contracts and I can run them on Ethereum and it's not on any central server or computer," said White. (Reporting by Gertrude Chavez-Dreyfuss; Editing by Bernard Orr) \|\| Bitcoin exchange Coinbase to add ether currency to trading platform: NEW YORK, May 19 (Reuters) - Bitcoin exchange Coinbase said late Thursday it will add digital currency ether on its trading platform next Tuesday. With the launch of ether trading next week, Coinbase is also changing the name of its platform to GDAX (Global Digital Asset Exchange), said Adam White, vice president of business development and head of GDAX. Coinbase, widely believed to be the largest bitcoin-focused company in terms of investment, will offer ether/dollar and ether/bitcoin currency pairs. Ether is the digital currency for the Ethereum platform, a blockchain, or public ledger that can create decentralized applications. Ethereum uses ether to execute peer-to-peer contracts automatically without the need for intermediaries. (Reporting by Gertrude Chavez-Dreyfuss; Editing by Bernard Orr) \|\| Bitcoin exchange Coinbase to add ether currency to trading platform: NEW YORK, May 19 (Reuters) - Bitcoin exchange Coinbase said late Thursday it will add digital currency ether on its trading platform next Tuesday. With the launch of ether trading next week, Coinbase is also changing the name of its platform to GDAX (Global Digital Asset Exchange), said Adam White, vice president of business development and head of GDAX. Coinbase, widely believed to be the largest bitcoin-focused company in terms of investment, will offer ether/dollar and ether/bitcoin currency pairs. Ether is the digital currency for the Ethereum platform, a blockchain, or public ledger that can create decentralized applications. Ethereum uses ether to execute peer-to-peer contracts automatically without the need for intermediaries. (Reporting by Gertrude Chavez-Dreyfuss; Editing by Bernard Orr) \|\| Bitcoin exchange Coinbase to add ether currency to trading platform: NEW YORK, May 19 (Reuters) - Bitcoin exchange Coinbase said late Thursday it will add digital currency ether on its trading platform next Tuesday. With the launch of ether trading next week, Coinbase is also changing the name of its platform to GDAX (Global Digital Asset Exchange), said Adam White, vice president of business development and head of GDAX. Coinbase, widely believed to be the largest bitcoin-focused company in terms of investment, will offer ether/dollar and ether/bitcoin currency pairs. Ether is the digital currency for the Ethereum platform, a blockchain, or public ledger that can create decentralized applications. Ethereum uses ether to execute peer-to-peer contracts automatically without the need for intermediaries. (Reporting by Gertrude Chavez-Dreyfuss; Editing by Bernard Orr) \|\| The controversy over Satoshi Nakamoto’s true identity is jeopardizing Bitcoin’s future: A new kind of wallet. Earlier in May, Australian entrepreneur Craig Wright made headlines with the claim that he was in fact the mysterious creator of Bitcoin, known as “Satoshi Nakamoto.” While Wright has yet to offer concrete public evidence to back up his claim, some in the Bitcoin community have insisted that even if Wright is Nakamoto, it doesn’t matter . This is a classic engineer’s fallacy. I say this with love—I’m an engineer myself—but it exemplifies a blinkered worldview which is both wrong and dangerous. The identity of the Bitcoin creator matters because if he or she were to come forward, they might have a real shot at finally uniting a fractious community. At the very least, the creator could provide some clarity on a host of unresolved, fundamental questions that are damaging Bitcoin’s credibility with investors and potential users alike. 20 misused English words that make smart people look silly The network is not the project is not the network It is true that Satoshi’s true identity is irrelevant to the Bitcoin network. The network was (brilliantly) designed so that its transactions require no trust or central authority. This will remain true as long as no entity controls too much of the “mining” computational power—more than one quintillion computations per second—that secures Bitcoin’s revolutionary blockchain. More than the sum of its code, the Bitcoin project has been divided by bitter disagreements. (Blockchain, for the uninitiated, is a digital platform that verifies and creates a permanent record of online transactions.) Nakamoto is believed to control 7% of all extant bitcoin, worth roughly $450 million today. That’s enough to influence Bitcoin’s spot price, but not enough to control it. But the Bitcoin network is a living, changing thing, composed of constantly evolving software. More than the sum of its code, the ongoing Bitcoin project has been divided by very public, bitter disagreements. These have at best slowed progress, and at worst dragged Bitcoin into something like a civil war. Story continues Raghuram Rajan explains why corrupt politicians win elections in India How Bitcoin is governed Final decisions regarding what software runs on the Bitcoin network are made by Bitcoin’s miners. Armed with cheap electricity and custom hardware, miners secure the blockchain and are rewarded with newly minted bitcoin. But miners do not (currently) develop new Bitcoin software; they merely choose what to adopt. This can be a fraught process. If different miners run fundamentally incompatible versions of the Bitcoin software—a situation known as a “hard fork”—then the blockchain will split in two. In theory the chain supported by the most mining power will ultimately be triumphant, but the outcome could be quite costly for those who choose the wrong side or fail to upgrade quickly. Bitcoin software is open source. Anyone can copy it, build on it, or release their own version. (Most “ altcoins ,” such as Litecoin and Dogecoin, adapt the Bitcoin code.) But in practice, for seven years, Bitcoin software was built by a small, tight-knit group of engineers—including Satoshi Nakamoto, until 2010, when he/she/they retired and vanished—whose code was universally accepted by miners. Then came 2015 . A brief and civil war Last year, the increasing popularity of the Bitcoin network began to threaten its capacity limit of roughly 7 transactions per second, and Bitcoin’s engineers fragmented into factions. One group, now known as Bitcoin Classic, wanted to immediately promote a hard fork that would double the bandwidth of the Bitcoin network. Another faction, Bitcoin Core, believed that this was too risky, and promoted a different short-term solution to the looming capacity crisis. As it turned out, however, the scuffle over capacity was only a symptom of a larger debate. To oversimplify: Bitcoin Classic and its backers believe the Bitcoin network should quickly scale to handle the same volume of transactions as mainstream platforms like Visa, regardless of the consequences. Bitcoin Core believes that Bitcoin should remain maximally decentralized and trustless, while new, more scalable solutions are developed that can handle millions of transactions per second. These solutions would be separate networks that use Bitcoin only sporadically, to settle large numbers of small transactions all at once. As it turned out, however, the scuffle over capacity was only a symptom of a larger debate. The argument was vitriolic and often very personal. Accusations of conflict of interest were flung around on Reddit like confetti. Several Bitcoin Core members are cofounders of the startup Blockstream, which has raised more than $70 million in pursuit of its vision of Bitcoin’s future. The CEO of the equally well-funded startup Coinbase threw his weight behind the hard fork strategy espoused by the Bitcoin Classic factions. One well-known developer publicly abandoned the project entirely, claiming “it has failed because the community has failed.” In the end, the miners chose Bitcoin Core’s solution rather than risk a hard fork—at least for now. But it seems unlikely that the debate has entirely ended , and its consequences were decidedly negative. Venture capitalists and tech media who once trumpeted Bitcoin as the Next Big Thing now seem far more skeptical . Data from Y Combinator indicates that the incidence of Bitcoin-related startups has plummeted over the last year. In some ways, everybody lost. It cannot be measured, and yet it exists This will not be the last Bitcoin battle, or the last stain on its public image. But the public perception of Bitcoin would certainly take another hit if, for instance, Nakamoto is revealed as Wright, whose public behavior has been inconsistent and confusing. Public perception filters into industry perception, and the attitudes held by venture capitalists and entrepreneurs alike. Simply put, the identity of the Bitcoin creator matters. Nakamoto’s secret identity has in some ways been very helpful to the Bitcoin project. Its mystery is alluring, and for those who dig deeper, the elegant brilliance of Nakamoto’s code and prose continue to inspire by example. But in the current environment, mystery may not be as helpful as clarity. If he/she/they were to reveal themselves, they could help resolve disputes before they become civil wars. As Mark Zuckerberg, who knows a thing or two about the merits of the iconic founder, says : The social capital and moral authority that comes from being the founder and having built many of the company’s key products means that on balance people trust you more and give you the benefit of the doubt more when you make tough calls. Fewer people complain and take your time to manage. Fewer people quit and slow your execution. Everything is easier with social capital. Bitcoin is an open-source project, not a company, but the same truth applies. The engineer’s fallacy is to assume that things that cannot be measured do not matter. Social capital is hard to measure, but it is extremely powerful. The attitude that technical projects are somehow beyond such human considerations is common, wrong, and dangerous. In the end, if Bitcoin ultimately fails to achieve its potential, it will be because of human failures, not technical ones. Follow Jon on Twitter at @rezendi . We welcome your comments at [email protected] . Sign up for the Quartz Daily Brief , our free daily newsletter with the world’s most important and interesting news. More stories from Quartz: The Bayer-Monsanto deal is a merger 4,000 years in the making Venmo is turning our friends into petty jerks \|\| The controversy over Satoshi Nakamoto’s true identity is jeopardizing Bitcoin’s future: A new kind of wallet. Earlier in May, Australian entrepreneur Craig Wright made headlines with the claim that he was in fact the mysterious creator of Bitcoin, known as “Satoshi Nakamoto.” While Wright has yet to offer concrete public evidence to back up his claim, some in the Bitcoin community have insisted that even if Wright is Nakamoto, it doesn’t matter . This is a classic engineer’s fallacy. I say this with love—I’m an engineer myself—but it exemplifies a blinkered worldview which is both wrong and dangerous. The identity of the Bitcoin creator matters because if he or she were to come forward, they might have a real shot at finally uniting a fractious community. At the very least, the creator could provide some clarity on a host of unresolved, fundamental questions that are damaging Bitcoin’s credibility with investors and potential users alike. 20 misused English words that make smart people look silly The network is not the project is not the network It is true that Satoshi’s true identity is irrelevant to the Bitcoin network. The network was (brilliantly) designed so that its transactions require no trust or central authority. This will remain true as long as no entity controls too much of the “mining” computational power—more than one quintillion computations per second—that secures Bitcoin’s revolutionary blockchain. More than the sum of its code, the Bitcoin project has been divided by bitter disagreements. (Blockchain, for the uninitiated, is a digital platform that verifies and creates a permanent record of online transactions.) Nakamoto is believed to control 7% of all extant bitcoin, worth roughly $450 million today. That’s enough to influence Bitcoin’s spot price, but not enough to control it. But the Bitcoin network is a living, changing thing, composed of constantly evolving software. More than the sum of its code, the ongoing Bitcoin project has been divided by very public, bitter disagreements. These have at best slowed progress, and at worst dragged Bitcoin into something like a civil war. Story continues Raghuram Rajan explains why corrupt politicians win elections in India How Bitcoin is governed Final decisions regarding what software runs on the Bitcoin network are made by Bitcoin’s miners. Armed with cheap electricity and custom hardware, miners secure the blockchain and are rewarded with newly minted bitcoin. But miners do not (currently) develop new Bitcoin software; they merely choose what to adopt. This can be a fraught process. If different miners run fundamentally incompatible versions of the Bitcoin software—a situation known as a “hard fork”—then the blockchain will split in two. In theory the chain supported by the most mining power will ultimately be triumphant, but the outcome could be quite costly for those who choose the wrong side or fail to upgrade quickly. Bitcoin software is open source. Anyone can copy it, build on it, or release their own version. (Most “ altcoins ,” such as Litecoin and Dogecoin, adapt the Bitcoin code.) But in practice, for seven years, Bitcoin software was built by a small, tight-knit group of engineers—including Satoshi Nakamoto, until 2010, when he/she/they retired and vanished—whose code was universally accepted by miners. Then came 2015 . A brief and civil war Last year, the increasing popularity of the Bitcoin network began to threaten its capacity limit of roughly 7 transactions per second, and Bitcoin’s engineers fragmented into factions. One group, now known as Bitcoin Classic, wanted to immediately promote a hard fork that would double the bandwidth of the Bitcoin network. Another faction, Bitcoin Core, believed that this was too risky, and promoted a different short-term solution to the looming capacity crisis. As it turned out, however, the scuffle over capacity was only a symptom of a larger debate. To oversimplify: Bitcoin Classic and its backers believe the Bitcoin network should quickly scale to handle the same volume of transactions as mainstream platforms like Visa, regardless of the consequences. Bitcoin Core believes that Bitcoin should remain maximally decentralized and trustless, while new, more scalable solutions are developed that can handle millions of transactions per second. These solutions would be separate networks that use Bitcoin only sporadically, to settle large numbers of small transactions all at once. As it turned out, however, the scuffle over capacity was only a symptom of a larger debate. The argument was vitriolic and often very personal. Accusations of conflict of interest were flung around on Reddit like confetti. Several Bitcoin Core members are cofounders of the startup Blockstream, which has raised more than $70 million in pursuit of its vision of Bitcoin’s future. The CEO of the equally well-funded startup Coinbase threw his weight behind the hard fork strategy espoused by the Bitcoin Classic factions. One well-known developer publicly abandoned the project entirely, claiming “it has failed because the community has failed.” In the end, the miners chose Bitcoin Core’s solution rather than risk a hard fork—at least for now. But it seems unlikely that the debate has entirely ended , and its consequences were decidedly negative. Venture capitalists and tech media who once trumpeted Bitcoin as the Next Big Thing now seem far more skeptical . Data from Y Combinator indicates that the incidence of Bitcoin-related startups has plummeted over the last year. In some ways, everybody lost. It cannot be measured, and yet it exists This will not be the last Bitcoin battle, or the last stain on its public image. But the public perception of Bitcoin would certainly take another hit if, for instance, Nakamoto is revealed as Wright, whose public behavior has been inconsistent and confusing. Public perception filters into industry perception, and the attitudes held by venture capitalists and entrepreneurs alike. Simply put, the identity of the Bitcoin creator matters. Nakamoto’s secret identity has in some ways been very helpful to the Bitcoin project. Its mystery is alluring, and for those who dig deeper, the elegant brilliance of Nakamoto’s code and prose continue to inspire by example. But in the current environment, mystery may not be as helpful as clarity. If he/she/they were to reveal themselves, they could help resolve disputes before they become civil wars. As Mark Zuckerberg, who knows a thing or two about the merits of the iconic founder, says : The social capital and moral authority that comes from being the founder and having built many of the company’s key products means that on balance people trust you more and give you the benefit of the doubt more when you make tough calls. Fewer people complain and take your time to manage. Fewer people quit and slow your execution. Everything is easier with social capital. Bitcoin is an open-source project, not a company, but the same truth applies. The engineer’s fallacy is to assume that things that cannot be measured do not matter. Social capital is hard to measure, but it is extremely powerful. The attitude that technical projects are somehow beyond such human considerations is common, wrong, and dangerous. In the end, if Bitcoin ultimately fails to achieve its potential, it will be because of human failures, not technical ones. Follow Jon on Twitter at @rezendi . We welcome your comments at [email protected] . Sign up for the Quartz Daily Brief , our free daily newsletter with the world’s most important and interesting news. More stories from Quartz: The Bayer-Monsanto deal is a merger 4,000 years in the making Venmo is turning our friends into petty jerks [Social Media Buzz] #ChainCoin #CHC $ 0.000182 (0.28 %) 0.00000041 BTC (0.00 %) \|\| LIVE: Profit = $500.36 (6.38 %). BUY B18.96 @ $420.00 (#VirCurex). SELL @ $442.19 (#BitStamp) #bitcoin #btc - http://www.projectcoin.org \|\| LIVE: Profit = $509.52 (6.50 %). BUY B18.96 @ $420.00 (#VirCurex). SELL @ $442.79 (#BitStamp) #bitcoin #btc - http://www.projectcoin.org \|\| $442.64 at 05:00 UTC [24h Range: $438.90 - $444.41 Volume: 2502 BTC] \|\| LIVE: Profit = $495.55 (6.32 %). BUY B18.96 @ $420.00 (#VirCurex). SELL @ $442.05 (...	439.32, 444.15, 445.98, 449.60, 453.38, 473.46, 530.04, 526.23, 533.86, 531.39
Given the historical Bitcoin prices from the last 90 days, predict the next 10 daily closing prices. The historical prices are: 42235.55, 41626.20, 39974.89, 39201.95, 38152.98, 39747.50, 40869.55, 42816.50, 44555.80, 43798.12, 46365.40, 45585.03, 45593.64, 44428.29, 47793.32, 47096.95, 47047.00, 46004.48, 44695.36, 44801.19, 46717.58, 49339.18, 48905.49, 49321.65, 49546.15, 47706.12, 48960.79, 46942.22, 49058.67, 48902.40, 48829.83, 47054.98, 47166.69, 48847.03, 49327.72, 50025.38, 49944.62, 51753.41, 52633.54, 46811.13, 46091.39, 46391.42, 44883.91, 45201.46, 46063.27, 44963.07, 47092.49, 48176.35, 47783.36, 47267.52, 48278.36, 47260.22, 42843.80, 40693.68, 43574.51, 44895.10, 42839.75, 42716.59, 43208.54, 42235.73, 41034.54, 41564.36, 43790.89, 48116.94, 47711.49, 48199.95, 49112.90, 51514.81, 55361.45, 53805.98, 53967.85, 54968.22, 54771.58, 57484.79, 56041.06, 57401.10, 57321.52, 61593.95, 60892.18, 61553.62, 62026.08, 64261.99, 65992.84, 62210.17, 60692.27, 61393.62, 60930.84, 63039.82, 60363.79, 58482.39.	[Bitcoin Technical Analysis for 2021-10-27] Volume: 43657076893, RSI (14-day): 52.36, 50-day EMA: 53891.78, 200-day EMA: 45651.60 [Wider Market Context] Gold Price: 1797.90, Gold RSI: 57.47 Oil Price: 82.66, Oil RSI: 63.72 [Recent News (last 7 days)] Worldcoin Is Older Than Ethereum —Just Not the Eyeball-Scanning One: Worldcoin is an angry, angry blockchain. Two years before Ethereum had even been released,Worldcoinhad already weathered a double-spend attack and releasedWorldcoin v3 — Flirtatious Ant, to rectify the situation. The DAO hack on Vitalik’s blockchain was still three years out and this payments-oriented blockchain was already negotiating a blockchain-wide crisis. And yet today no one is talking about Worldcoin. Well, everyone is talking about Worldcoin. They’re just not talking aboutthatWorldcoin. They are talking about the Worldcoin that justraised $25M at a $1 billion valuation, co-founded by the former president of Y Combinator, Sam Altman. The internet is abuzz about the new Worldcoin because of the big names and numbers, but also because it has weird optics. People are going around scanning people’s eyeballs with these devices that look sort of likethe spaceship inFlight of the Navigatorand then giving the scannees cryptocurrency. It’s unusual. Lots of people have been disconcerted bythis eyeball scanning. That’s not what the O.G Worldcoin builders are mad about though. They are mad about Worldcoin stealing their coin’s name. “This is big tech trying to squash the little guy. They really should have chosen a different name,” someone behind the original Worldcoin’s email wrote to The Defiant in response to a query about the company’s take, signing the email only as “Worldcoin Community.” In the post on Bitcointalk about Flirtatious Ant, Worldcoin explained, “Our major goal is to become the cryptocurrency of choice for merchants and consumers during their everyday transactions, whether it be a cup of coffee or bigger ticket items.” Day-to-day payments, as we know, haven’t really taken off in crypto, not for Worldcoin or even for Bitcoin. We only found out that there had already been a Worldcoin when we got curious about whether or not the eyeball scanning tokens had begun trading. After typing “Worldcoin” into the search box at Coingecko, we found aWorldcoin (WDC), but it was clear it was a different blockchain. WDC is trading at about $0.06 in evening trading New York Time, for what it’s worth. The email to The Defiant is not the only place where the Worldcoin team has expressed its ire, either. On the about page of the original Worldcoin’s website, it says: “Welcome newcomers. We want to clarify something with you. We are not the “ORB RETINA SCANNING WORLDCOIN”. They are imposters stealing our name … We do not want you investing in the wrong coin. We are looking for steady growth and not a simple pump and dump. Please make sure you have done your research prior to investing. It is wrong what this new Worldcoin is doing.” It seems that the conversation about Altman’s new project has had some unintended consequences for the older project. It’s largely traded below $0.06 since May, but briefly shot up to $0.20 on October 24, no doubt driven in part by investors looking to ape into the controversial token early. The aggrieved Worldcoin onlytrades on two markets, according to CoinMarketCap. “We are the original Worldcoin. Worldcoin is here for fast, low fee, worldwide payments. And the Worldcoin community will all continue volunteering to help keep the one and only true Worldcoin moving forward,” the email promised. Read the original post onThe Defiant. \|\| Worldcoin Is Older Than Ethereum —Just Not the Eyeball-Scanning One: Worldcoin is an angry, angry blockchain. Two years before Ethereum had even been released, Worldcoin had already weathered a double-spend attack and released Worldcoin v3 — Flirtatious Ant , to rectify the situation. The DAO hack on Vitalik’s blockchain was still three years out and this payments-oriented blockchain was already negotiating a blockchain-wide crisis. And yet today no one is talking about Worldcoin. Well, everyone is talking about Worldcoin. They’re just not talking about that Worldcoin. They are talking about the Worldcoin that just raised $25M at a $1 billion valuation , co-founded by the former president of Y Combinator, Sam Altman. The internet is abuzz about the new Worldcoin because of the big names and numbers, but also because it has weird optics. People are going around scanning people’s eyeballs with these devices that look sort of like the spaceship in Flight of the Navigator and then giving the scannees cryptocurrency. It’s unusual. Big Tech Lots of people have been disconcerted by this eyeball scanning . That’s not what the O.G Worldcoin builders are mad about though. They are mad about Worldcoin stealing their coin’s name. “This is big tech trying to squash the little guy. They really should have chosen a different name,” someone behind the original Worldcoin’s email wrote to The Defiant in response to a query about the company’s take, signing the email only as “Worldcoin Community.” In the post on Bitcointalk about Flirtatious Ant, Worldcoin explained, “Our major goal is to become the cryptocurrency of choice for merchants and consumers during their everyday transactions, whether it be a cup of coffee or bigger ticket items.” Day-to-day payments, as we know, haven’t really taken off in crypto, not for Worldcoin or even for Bitcoin. We only found out that there had already been a Worldcoin when we got curious about whether or not the eyeball scanning tokens had begun trading. After typing “Worldcoin” into the search box at Coingecko, we found a Worldcoin (WDC) , but it was clear it was a different blockchain. WDC is trading at about $0.06 in evening trading New York Time, for what it’s worth. Story continues The email to The Defiant is not the only place where the Worldcoin team has expressed its ire, either. On the about page of the original Worldcoin’s website, it says: “Welcome newcomers. We want to clarify something with you. We are not the “ORB RETINA SCANNING WORLDCOIN”. They are imposters stealing our name … We do not want you investing in the wrong coin. We are looking for steady growth and not a simple pump and dump. Please make sure you have done your research prior to investing. It is wrong what this new Worldcoin is doing.” It seems that the conversation about Altman’s new project has had some unintended consequences for the older project. It’s largely traded below $0.06 since May, but briefly shot up to $0.20 on October 24, no doubt driven in part by investors looking to ape into the controversial token early. The aggrieved Worldcoin only trades on two markets , according to CoinMarketCap. “We are the original Worldcoin. Worldcoin is here for fast, low fee, worldwide payments. And the Worldcoin community will all continue volunteering to help keep the one and only true Worldcoin moving forward,” the email promised. Read the original post on The Defiant . \|\| How to Manage Risk in Your Forex Trading Account: It is universally accepted that Forex money management is a set of processes that a Forex trader will use to manage the risk in their Forex trading account. Successful Forex traders tend to accept the adage, “If I’m right on the entry, the upside will take care of itself. If I’m wrong, the downside or losses can be unforgiving.” The underlying principle of Forex money management, or for that matter, any speculative investment, is to preserve trading capital. This doesn’t mean you won’t have any losing trades because that is impossible. The objective of Forex money management is to minimize trading losses so that they are “manageable”. That means keep your losses small and try to manage a winning trade to get the most profit out of the move. Essentially a successful Forex trader doesn’t necessarily have more winning trades than losing trades, but rather the dollar amount of his winning traders are consistently bigger than the dollar amount of his losing trades. The concept of money management is often used interchangeably with the term risk management. However, they are not the same. Risk management is about preparing for and managing all identifiable risks – that can include things as arbitrary as having a backup quote service or charting program. Money management, on the other hand, relates entirely on how to use your capital to grow your trading account balance without putting it in a position to risk it all. The implementation of a Forex money management plan may be the best way to try to avoid losing money in the Forex market. No trading system is perfect nor are humans, or even robot traders. They all have similar traits (good or bad), but collectively, they do share common mistakes. These common mistakes are the ones that successful traders strive to avoid. Successful Forex traders tend to think of trading as a business. In that business, there will be profitable trades and overall profitable days, but there will also be losses. Once again, if you want to stay in business then your profits are going to have to be greater than your losses. And once again, we are not saying that you can’t have any losses. It is important to say at this time that yes, you can lose all your money in any investment where your funds are put at risk. So it is your job as trader/business owner to minimize the chance of that happening. There are ways to fine tune a trading strategy i.e. optimal entry and/or optimal exit, tighter, well placed stop losses or identifying better profit objectives, with the goal to win more and lose less. But that is not usually the main reason traders lose money in the Forex markets. The main reason tends to be having no specific money management rules to follow. Here is a list of the rules that top Forex money managers tend to follow. The idea behind this rule is that a trader should risk only a small percentage of their trading capital on any one trade. Several books or papers on Forex trading preach the ‘2% rule” where a trader should risk 2% of their account on every trade. This ‘Fixed Percentage Risk’ can actually be any amount you are comfortable with and can afford. If your trading account has a $50,000 balance then 2% of that amount will be $1000 of risk per trade. A $1000 risk per trade may be a huge amount to a trader with a balance of $5000 in his account. In this case, 2% risk will be $100 of risk per trade. The reason you’ll want to risk a fixed percentage is because if the first trade is a loss then the next trade will carry a smaller amount of dollars at risk. Taking a smaller amount of risk following a loss will allow you to ride out a losing streak longer than an individual who risks the same amount on every trade. This will buy you time and allow you to have a big enough balance to perhaps start a willing streak. A drawdown is the difference in account value from the highest the account balance has been over a certain period and the account value after some losing trades. For example, if a trader begins with $5000 in his account and she loses $1000 then she has a 20% drawdown. The larger the drawdown, the harder it is to become profitable. Following a 20% drawdown, a trader would have to make 25% in the market just to get back to even. If your trading system has never shown that kind of return over a reasonable time period then your maximum drawdown rule will tell you to stop trading. At that point, you can reevaluate your trading strategy. You can lower your fixed percentage of risk, but most of all you can relax and breathe again, allowing you to regroup and reload after you have learned from your mistakes. The generally accepted rule in the trading industry is that traders should aim to have winning trades that are on average twice as big as losing trades. With this risk:reward ratio, the trader need win only a third of their trades to breakeven. The mathematics behind this rule says if a trader choses a risk/reward ratio of 1:1, then the trader must win a higher number of trades (at least 6 out of 10) trades to be profitable. If the trader chooses a risk/reward ratio of 3:1, then they need to win fewer trades (1 in every 4 trades) to break even. It should be noted that this rule works great on paper, but in reality a trader really has little control of the actual risk/reward he will achieve on a trade. Furthermore, a trader may be able to control is losses through stops (provided there is no slippage), but at the same time, a trader could cut his profits by not allowing a winning trade to end naturally, for example, by hitting a trailing stop. The best trading strategy tends to cut losses and let profits run. Over the long-run you’ll get the actual risk/reward ratio. Essentially, a successful trader has larger average wins than average losses. The bigger the average win, the less a trader has to worry about having a high percentage of wins. For example, you can have 90% accuracy, but if you average loss is $50 per trade and your average win is $10 per trade then one average loss will wipe out 5 of your winning trades. Using a stop loss locks in the maximum amount a trader can expect to lose in any one trade, while a profit objective order locks in the maximum amount the trader can profit. Don’t just use dollar stops. Place a stop in a place where you are wrong on the trade. Additionally, if your strategy has been tested for fixed profit levels then follow the rules. If your strategy calls for trailing stops to lock in profits then follow that strategy. Try to avoid mixing your exit strategies because it can skew the risk/reward ratio your trading system needs to be profitable over the long-run. Remember, in order to be successful, you’ll need to have a few big winners to offset a series of small losses. Successful trading is only possible when a trader can make unemotional decisions about what to do when a trading opportunity presents itself. If you are undercapitalized, you will trade scared. If you trade scared then you will cut corners which could be trading without a stop, taking profits too soon, doubling down on a losing trade or putting yourself in a position too big to handle. If you do any of those things then you limit your chances of success. Only trade with money you can afford to lose. Thisarticlewas originally posted on FX Empire • European Equities: German and U.S Stats and Corporate Earnings in Focus • Silver Price Prediction – Prices Drop on Strong Confidence Report • Bitcoin Retrace Can Lead To New Buy Signal • U.S. Dollar Index (DX) Futures Technical Analysis – Overcoming 94.020 Could Increase Momentum into the Close • AUD/USD and NZD/USD Fundamental Daily Forecast – Aussie Firms as CPI Rise Fans Flames of Early Rate Hike • Shiba Inu Coin – Daily Tech Analysis – October 27th, 2021 \|\| How to Manage Risk in Your Forex Trading Account: Forex Money Management Defined It is universally accepted that Forex money management is a set of processes that a Forex trader will use to manage the risk in their Forex trading account. Successful Forex traders tend to accept the adage, “If I’m right on the entry, the upside will take care of itself. If I’m wrong, the downside or losses can be unforgiving.” The underlying principle of Forex money management, or for that matter, any speculative investment, is to preserve trading capital. This doesn’t mean you won’t have any losing trades because that is impossible. The objective of Forex money management is to minimize trading losses so that they are “manageable”. That means keep your losses small and try to manage a winning trade to get the most profit out of the move. Essentially a successful Forex trader doesn’t necessarily have more winning trades than losing trades, but rather the dollar amount of his winning traders are consistently bigger than the dollar amount of his losing trades. The concept of money management is often used interchangeably with the term risk management. However, they are not the same. Risk management is about preparing for and managing all identifiable risks – that can include things as arbitrary as having a backup quote service or charting program. Money management, on the other hand, relates entirely on how to use your capital to grow your trading account balance without putting it in a position to risk it all. How to Best Avoid Losing Money when Trading Forex Markets The implementation of a Forex money management plan may be the best way to try to avoid losing money in the Forex market. No trading system is perfect nor are humans, or even robot traders. They all have similar traits (good or bad), but collectively, they do share common mistakes. These common mistakes are the ones that successful traders strive to avoid. Successful Forex traders tend to think of trading as a business. In that business, there will be profitable trades and overall profitable days, but there will also be losses. Once again, if you want to stay in business then your profits are going to have to be greater than your losses. And once again, we are not saying that you can’t have any losses. Story continues It is important to say at this time that yes, you can lose all your money in any investment where your funds are put at risk. So it is your job as trader/business owner to minimize the chance of that happening. There are ways to fine tune a trading strategy i.e. optimal entry and/or optimal exit, tighter, well placed stop losses or identifying better profit objectives, with the goal to win more and lose less. But that is not usually the main reason traders lose money in the Forex markets. The main reason tends to be having no specific money management rules to follow. Here is a list of the rules that top Forex money managers tend to follow. Top Forex Money Management Rules to Follow Define Your Risk Per Trade Using a Position-Sizing Model The idea behind this rule is that a trader should risk only a small percentage of their trading capital on any one trade. Several books or papers on Forex trading preach the ‘2% rule” where a trader should risk 2% of their account on every trade. This ‘Fixed Percentage Risk’ can actually be any amount you are comfortable with and can afford. If your trading account has a $50,000 balance then 2% of that amount will be $1000 of risk per trade. A $1000 risk per trade may be a huge amount to a trader with a balance of $5000 in his account. In this case, 2% risk will be $100 of risk per trade. The reason you’ll want to risk a fixed percentage is because if the first trade is a loss then the next trade will carry a smaller amount of dollars at risk. Taking a smaller amount of risk following a loss will allow you to ride out a losing streak longer than an individual who risks the same amount on every trade. This will buy you time and allow you to have a big enough balance to perhaps start a willing streak. Know Your Maximum Drawdown Level A drawdown is the difference in account value from the highest the account balance has been over a certain period and the account value after some losing trades. For example, if a trader begins with $5000 in his account and she loses $1000 then she has a 20% drawdown. The larger the drawdown, the harder it is to become profitable. Following a 20% drawdown, a trader would have to make 25% in the market just to get back to even. If your trading system has never shown that kind of return over a reasonable time period then your maximum drawdown rule will tell you to stop trading. At that point, you can reevaluate your trading strategy. You can lower your fixed percentage of risk, but most of all you can relax and breathe again, allowing you to regroup and reload after you have learned from your mistakes. Assign a Risk/Reward Ratio to Every Trade The generally accepted rule in the trading industry is that traders should aim to have winning trades that are on average twice as big as losing trades. With this risk:reward ratio, the trader need win only a third of their trades to breakeven. The mathematics behind this rule says if a trader choses a risk/reward ratio of 1:1, then the trader must win a higher number of trades (at least 6 out of 10) trades to be profitable. If the trader chooses a risk/reward ratio of 3:1, then they need to win fewer trades (1 in every 4 trades) to break even. It should be noted that this rule works great on paper, but in reality a trader really has little control of the actual risk/reward he will achieve on a trade. Furthermore, a trader may be able to control is losses through stops (provided there is no slippage), but at the same time, a trader could cut his profits by not allowing a winning trade to end naturally, for example, by hitting a trailing stop. The best trading strategy tends to cut losses and let profits run. Over the long-run you’ll get the actual risk/reward ratio. Essentially, a successful trader has larger average wins than average losses. The bigger the average win, the less a trader has to worry about having a high percentage of wins. For example, you can have 90% accuracy, but if you average loss is $50 per trade and your average win is $10 per trade then one average loss will wipe out 5 of your winning trades. Use a Stop Loss and Set a Profit Objective Using a stop loss locks in the maximum amount a trader can expect to lose in any one trade, while a profit objective order locks in the maximum amount the trader can profit. Don’t just use dollar stops. Place a stop in a place where you are wrong on the trade. Additionally, if your strategy has been tested for fixed profit levels then follow the rules. If your strategy calls for trailing stops to lock in profits then follow that strategy. Try to avoid mixing your exit strategies because it can skew the risk/reward ratio your trading system needs to be profitable over the long-run. Remember, in order to be successful, you’ll need to have a few big winners to offset a series of small losses. Only Trade with Risk Capital Successful trading is only possible when a trader can make unemotional decisions about what to do when a trading opportunity presents itself. If you are undercapitalized, you will trade scared. If you trade scared then you will cut corners which could be trading without a stop, taking profits too soon, doubling down on a losing trade or putting yourself in a position too big to handle. If you do any of those things then you limit your chances of success. Only trade with money you can afford to lose. This article was originally posted on FX Empire More From FXEMPIRE: European Equities: German and U.S Stats and Corporate Earnings in Focus Silver Price Prediction – Prices Drop on Strong Confidence Report Bitcoin Retrace Can Lead To New Buy Signal U.S. Dollar Index (DX) Futures Technical Analysis – Overcoming 94.020 Could Increase Momentum into the Close AUD/USD and NZD/USD Fundamental Daily Forecast – Aussie Firms as CPI Rise Fans Flames of Early Rate Hike Shiba Inu Coin – Daily Tech Analysis – October 27th, 2021 \|\| Brazilian Ride-Hailing Giant 99 to Enable Bitcoin Trading: 99Pay, the digital wallet of Brazilian ride-hailing company 99, will enable the purchase and sale of bitcoin on its platform, the company announced on Tuesday. Users of 99Pay will be able to execute commission-free transactions with a minimum purchase amount of 10 Brazilian reais and a maximum of 10,000 reais – equivalent to $1,800 – starting Nov. 3. 99Pay, part of the Chinese vehicle-for-hire company DiDi Chuxing, said that the platform will deliver bitcoin cashback promotions, as well. The initiative comes amid rapidly increasing interest in cryptocurrency among Brazilians. According to data published by the country’s Central Bank (BCB) in October, Brazilians haveacquired$4.27 billion in cryptocurrencies so far in 2021. On the legislative front, Brazil’s congressplans to discussa bill that would regulate crypto companies. Brazil’s 99 is a ride-hailing, food delivery and financial services company founded in 2012. It wasacquiredby DiDi, the Chinese equivalent of Uber, for $1 billion in 2018. The 99Pay platform has 20 million active users, according to the company. 99 launched its digital wallet in July 2020 within its app and introduced a 99Pay stand-alone app last week. Users won’t be able to use bitcoin to pay for trips on 99, because the cryptocurrency will first have to be switched to fiat, 99Pay executive director Maurício Orsolini Filho told CoinDesk. Orsolini Filho added that the company implemented the bitcoin trading feature following research conducted at the company’s request that showed strong demand for the service. According to the data, 81% of Brazilian digital banks’ users already know or have heard of cryptocurrencies, and 54% don’t invest in digital assets but have shown interest in entering the market. In 2020, DiDi told CoinDesk it was forming a task force to design andrun a trialof China’s central bank digital currency on its transportation platform. \|\| Brazilian Ride-Hailing Giant 99 to Enable Bitcoin Trading: 99Pay, the digital wallet of Brazilian ride-hailing company 99, will enable the purchase and sale of bitcoin on its platform, the company announced on Tuesday. Users of 99Pay will be able to execute commission-free transactions with a minimum purchase amount of 10 Brazilian reais and a maximum of 10,000 reais – equivalent to $1,800 – starting Nov. 3. 99Pay, part of the Chinese vehicle-for-hire company DiDi Chuxing, said that the platform will deliver bitcoin cashback promotions, as well. The initiative comes amid rapidly increasing interest in cryptocurrency among Brazilians. According to data published by the country’s Central Bank (BCB) in October, Brazilians haveacquired$4.27 billion in cryptocurrencies so far in 2021. On the legislative front, Brazil’s congressplans to discussa bill that would regulate crypto companies. Brazil’s 99 is a ride-hailing, food delivery and financial services company founded in 2012. It wasacquiredby DiDi, the Chinese equivalent of Uber, for $1 billion in 2018. The 99Pay platform has 20 million active users, according to the company. 99 launched its digital wallet in July 2020 within its app and introduced a 99Pay stand-alone app last week. Users won’t be able to use bitcoin to pay for trips on 99, because the cryptocurrency will first have to be switched to fiat, 99Pay executive director Maurício Orsolini Filho told CoinDesk. Orsolini Filho added that the company implemented the bitcoin trading feature following research conducted at the company’s request that showed strong demand for the service. According to the data, 81% of Brazilian digital banks’ users already know or have heard of cryptocurrencies, and 54% don’t invest in digital assets but have shown interest in entering the market. In 2020, DiDi told CoinDesk it was forming a task force to design andrun a trialof China’s central bank digital currency on its transportation platform. \|\| Brazilian Ride-Hailing Giant 99 to Enable Bitcoin Trading: 99Pay, the digital wallet of Brazilian ride-hailing company 99, will enable the purchase and sale of bitcoin on its platform, the company announced on Tuesday. Users of 99Pay will be able to execute commission-free transactions with a minimum purchase amount of 10 Brazilian reais and a maximum of 10,000 reais equivalent to $1,800 starting Nov. 3. 99Pay, part of the Chinese vehicle-for-hire company DiDi Chuxing, said that the platform will deliver bitcoin cashback promotions, as well. The initiative comes amid rapidly increasing interest in cryptocurrency among Brazilians. According to data published by the countrys Central Bank (BCB) in October, Brazilians have acquired $4.27 billion in cryptocurrencies so far in 2021. On the legislative front, Brazils congress plans to discuss a bill that would regulate crypto companies. Brazils 99 is a ride-hailing, food delivery and financial services company founded in 2012. It was acquired by DiDi, the Chinese equivalent of Uber, for $1 billion in 2018. The 99Pay platform has 20 million active users, according to the company. 99 launched its digital wallet in July 2020 within its app and introduced a 99Pay stand-alone app last week. Users wont be able to use bitcoin to pay for trips on 99, because the cryptocurrency will first have to be switched to fiat, 99Pay executive director Maurício Orsolini Filho told CoinDesk. Orsolini Filho added that the company implemented the bitcoin trading feature following research conducted at the companys request that showed strong demand for the service. According to the data, 81% of Brazilian digital banks users already know or have heard of cryptocurrencies, and 54% dont invest in digital assets but have shown interest in entering the market. In 2020, DiDi told CoinDesk it was forming a task force to design and run a trial of Chinas central bank digital currency on its transportation platform. \|\| Billionaire Tudor Jones: This is the single biggest threat' to stocks and society protect yourself now: Billionaire Tudor Jones: This is the single biggest threat' to stocks and society protect yourself now The stock market has bounced back after a sluggish September, but a billionaire hedge fund manager says it would be a mistake to drop your guard. Paul Tudor Jones, who runs Tudor Investment Corporation, told CNBC last week that runaway inflation remains the single biggest threat to financial markets and society in general. If we don't immediately shift to attack it, Jones warns, we run the risk of getting back into the '70s, where it was the single most important issue for multiple presidents, multiple Fed chairmen. Regardless of what the officials in Washington do, you can take action to protect your own portfolio. Here are three assets you can use to hedge against inflation, even if you just sprinkle some of your spare change on them. Cryptocurrencies r.classen / Shutterstock Due to their violent swings in value, cryptocurrencies remain a higher-risk solution to the problem of inflation. But more and more investors including Jones are getting onboard. We're moving into an increasingly digitized world. Clearly there's a place for crypto, and it's winning the race against gold, he says. Crypto would be my preferred inflation hedge over gold at the moment. There are many ways to play the crypto boom. For instance, ProShares Bitcoin Strategy ETF holds bitcoin futures contracts that trade on the Chicago Mercantile Exchange. Investors can also get exposure to Bitcoin through companies that have tied themselves to the crypto market, such as Coinbase, Tesla and PayPal. Of course, you can also purchase Bitcoin directly. Crypto exchanges often charge up to 4% in commission fees, but some investing apps charge 0%. Real estate QinJin / Shutterstock Real estate has been a popular inflation hedge throughout history. Not only do real estate prices tend to increase in an inflationary environment, but rental properties can also generate a stable income stream for investors. These days, however, you dont need to be a landlord to collect rent checks. Publicly traded real estate investment trusts (REITs) own and operate income-producing properties on investors behalf. Story continues Jones happens to own quite a few shares in this sector. According to Tudors latest 13F filing with the Securities Exchange Commission, the hedge fund held stakes in Digital Realty Trust, Public Storage, Kimco Realty, Simon Property Group, Vici Properties and National Retail Properties. These REITs all offer regular dividend payments with yields higher than the S&P 500. If you want to follow suit, some popular investing services let you lock in a steady income stream by investing in premium real estate from commercial developments in L.A. to residential buildings in N.Y.C. You'll receive regular payouts in the form of quarterly dividend distributions without any headaches or hassles. Fine art Luke W. Choi / Shutterstock This one is often overlooked. But, with inflation on the rise, Bank of Americas chief investment strategist Michael Hartnett said earlier this year that collectibles like wine and art could outperform in the next decade. Contemporary artwork has already outperformed the S&P 500 by a commanding 174% over the past 25 years, according to the Citi Global Art Market chart. It also helps that fine art has little correlation with the ups and downs of the stock market and the crypto market. Investing in art by the likes of Banksy and Andy Warhol used to be an option only for the ultra-rich, like Jones. But with a new investing platform , you can invest in iconic artworks, too, just like Jeff Bezos and Bill Gates do. This article provides information only and should not be construed as advice. It is provided without warranty of any kind. \|\| Billionaire Tudor Jones: This is the ‘single biggest threat' to stocks and society — protect yourself now: The stock market has bounced back after a sluggish September, but a billionaire hedge fund manager says it would be a mistake to drop your guard. Paul Tudor Jones, who runs Tudor Investment Corporation, told CNBC last week that runaway inflation remains “the single biggest threat to financial markets and society in general.” “If we don't immediately shift to attack it,” Jones warns, “we run the risk of getting back into the '70s, where it was the single most important issue for multiple presidents, multiple Fed chairmen.” Regardless of what the officials in Washington do, you can take action to protect your own portfolio. Here are three assets you can use to hedge against inflation, even if you just sprinkle some ofyour spare changeon them. Due to their violent swings in value, cryptocurrencies remain a higher-risk solution to the problem of inflation. But more and more investors — including Jones — are getting onboard. “We're moving into an increasingly digitized world. Clearly there's a place for crypto, and it's winning the race against gold,” he says. “Crypto would be my preferred inflation hedge over gold at the moment.” There are many ways to play the crypto boom. For instance, ProShares Bitcoin Strategy ETF holds bitcoin futures contracts that trade on the Chicago Mercantile Exchange. Investors can also get exposure to Bitcoin through companies that have tied themselves to the crypto market, such as Coinbase, Tesla and PayPal. Of course, you can also purchase Bitcoin directly. Crypto exchanges often charge up to 4% in commission fees, butsome investing appscharge 0%. Real estate has been a popular inflation hedge throughout history. Not only do real estate prices tend to increase in an inflationary environment, but rental properties can also generate a stable income stream for investors. These days, however, you don’t need to be a landlord to collect rent checks. Publicly traded real estate investment trusts (REITs) own and operate income-producing properties on investors’ behalf. Jones happens to own quite a few shares in this sector. According to Tudor’s latest 13F filing with the Securities Exchange Commission, the hedge fund held stakes in Digital Realty Trust, Public Storage, Kimco Realty, Simon Property Group, Vici Properties and National Retail Properties. These REITs all offer regular dividend payments with yields higher than the S&P 500. If you want to follow suit, somepopular investing serviceslet you lock in a steady income stream by investing in premium real estate — from commercial developments in L.A. to residential buildings in N.Y.C. You'll receive regular payouts in the form of quarterly dividend distributions without any headaches or hassles. This one is often overlooked. But, with inflation on the rise, Bank of America’s chief investment strategist Michael Hartnett said earlier this year that collectibles like wine and art could outperform in the next decade. Contemporary artwork has already outperformed the S&P 500 by a commanding 174% over the past 25 years, according to the Citi Global Art Market chart. It also helps that fine art has little correlation with the ups and downs of the stock market and the crypto market. Investing in art by the likes of Banksy and Andy Warhol used to be an option only for the ultra-rich, like Jones. But with anew investing platform, you can invest in iconic artworks, too, just like Jeff Bezos and Bill Gates do. This article provides information only and should not be construed as advice. It is provided without warranty of any kind. \|\| Market Wrap: Long-Term Bitcoin Holders Trim Positions as Rally Stalls: Bitcoin traded in a tight range on Tuesday as extreme bullish sentiment appears to be cooling. The cryptocurrency was trading at around $62,000 at press time and is roughly flat over the past 24 hours. The bitcoinFear & Greed Indexis starting to decline from its highest level in more than seven months, which suggests buyers are starting to take some profits after a nearly 45% rise in BTC’s price over the past month. In the bitcoin futures market, leveraged funds on the Chicago Mercantile Exchange (CME) raised their bets against bitcoin rising to a record high in the week ended Oct. 19, possibly to profit from the widening gap between futures and spot markets prices, CoinDesk’s Omkar Godbolereported. For now, technical indicators suggest limited pullbacks after a retest near the $60,000supportlevel in bitcoin’s price was achieved earlier this week. • Bitcoin (BTC): $62,020.52, -1.29% • Ether (ETH): $4,224.98, +0.65% • S&P 500: $4,574.79, +0.18% • Gold: $1,793.80, -0.79% • 10-year Treasury yield closed at 1.62% Blockchain data showlong-term bitcoin holdersare starting to take some profits, which typically occurs when BTC reaches an all-time high. Based on the current price cycle, profit-taking from long-term holders appears to be modest relative to extreme levels seen at the end of a bull market phase, according to ablog postfrom Glassnode. The chart below shows significant accumulation of bitcoin around mid-September during a pullback in BTC’s price. And despite the slight profit-taking, current positioning by long-term holders is consistent with the early phase of a bull market, according to Glassnode. The total balance of bitcoin on exchanges continues to decline, which suggests traders are holding coins in wallets instead of making them available to trade on an exchange. “Relative to the circulating supply, the bitcoin balance at exchanges sits at levels not seen since January 2018,” Arcane Research wrote in a Tuesdaynewsletter. “This could suggest that the demand to sell is low at the moment.” The last time the Bitcoin network locked in a major upgrade, in July 2017, the cryptocurrency’s price jumped almost 50% through Aug. 23 of that year, when the changes wentlive. Now, as the original blockchain network prepares for its next big upgrade in November, an upgrade that is known asTaproot, few investors are expecting a price reaction anywhere near that scale. BTC’s price has already doubled this year and hit a new all-time high near $67,000 last week. While further gains are possible, Taproot alone likely won’t be the catalyst, CoinDesk’s Lyllah Ledesma wrote. Read morehere. • Solana-based perpetual swaps DEX Drift Protocol raises $3.8 million:Crypto derivatives exchange Drift Protocol raised $3.8 million in a seed funding round that was led by Multicoin Capital with participation from crypto trading firms Jump Capital and Alameda, among others, CoinDesk’s Danny Nelsonreported. Drift, which focuses on perpetual swaps, or futures contracts without an expiration date, is set to launch this month with support for SOL, BTC, ETH and Solana ecosystem tokens. • Stablecoin protocol Frax’s governance token surges 80% on supply squeeze:Fractional-algorithmic stablecoin protocol Frax has jumped 80% in a single day, gaining nearly twice what bitcoin has done so far this month, CoinDesk’s Omkar Godbolereported. The protocol now trades near $14.40, according to data provided by Messari. • Tether enlists startup to help it comply with money laundering rules:Stablecoin issuer Tether has begun a trial partnership with startup software company Notabene to help combat money laundering in cross-border transactions, CoinDesk’s Cheyenne Ligonreported. Notabene, which provides software to crypto exchanges to help identify their users and track transactions, will help Tether comply with the Financial Action Task Force’s (FATF) “travel rule,” which requires disclosure of customer information of relevant transactions. • Valkyrie Files to Offer Leveraged Bitcoin Futures ETF • DCG’s $1B Pledge and an SEC Filing Kindle Fresh Speculation on ‘Grayscale Discount’ • ‘Data Pipeline’ Protocol KYVE Raises $2.8M From Industry Insiders • Winklevoss-Led Gemini Behind Bitcoin White Paper Excerpts on NYC Billboard Most digital assets in the CoinDesk 20 ended the day higher. Notable winners as of 21:00 UTC (4:00 p.m. ET): • The Graph (GRT): +11.04% • Polygon (MATIC): +10.64% • Aave (AAVE): +10.15% Notable losers: • Bitcoin (BTC): -1.46% • Filecoin (FIL): -0.79% • Dogecoin (DOGE): -0.56% \|\| Market Wrap: Long-Term Bitcoin Holders Trim Positions as Rally Stalls: Bitcoin traded in a tight range on Tuesday as extreme bullish sentiment appears to be cooling. The cryptocurrency was trading at around $62,000 at press time and is roughly flat over the past 24 hours. The bitcoinFear & Greed Indexis starting to decline from its highest level in more than seven months, which suggests buyers are starting to take some profits after a nearly 45% rise in BTC’s price over the past month. In the bitcoin futures market, leveraged funds on the Chicago Mercantile Exchange (CME) raised their bets against bitcoin rising to a record high in the week ended Oct. 19, possibly to profit from the widening gap between futures and spot markets prices, CoinDesk’s Omkar Godbolereported. For now, technical indicators suggest limited pullbacks after a retest near the $60,000supportlevel in bitcoin’s price was achieved earlier this week. • Bitcoin (BTC): $62,020.52, -1.29% • Ether (ETH): $4,224.98, +0.65% • S&P 500: $4,574.79, +0.18% • Gold: $1,793.80, -0.79% • 10-year Treasury yield closed at 1.62% Blockchain data showlong-term bitcoin holdersare starting to take some profits, which typically occurs when BTC reaches an all-time high. Based on the current price cycle, profit-taking from long-term holders appears to be modest relative to extreme levels seen at the end of a bull market phase, according to ablog postfrom Glassnode. The chart below shows significant accumulation of bitcoin around mid-September during a pullback in BTC’s price. And despite the slight profit-taking, current positioning by long-term holders is consistent with the early phase of a bull market, according to Glassnode. The total balance of bitcoin on exchanges continues to decline, which suggests traders are holding coins in wallets instead of making them available to trade on an exchange. “Relative to the circulating supply, the bitcoin balance at exchanges sits at levels not seen since January 2018,” Arcane Research wrote in a Tuesdaynewsletter. “This could suggest that the demand to sell is low at the moment.” The last time the Bitcoin network locked in a major upgrade, in July 2017, the cryptocurrency’s price jumped almost 50% through Aug. 23 of that year, when the changes wentlive. Now, as the original blockchain network prepares for its next big upgrade in November, an upgrade that is known asTaproot, few investors are expecting a price reaction anywhere near that scale. BTC’s price has already doubled this year and hit a new all-time high near $67,000 last week. While further gains are possible, Taproot alone likely won’t be the catalyst, CoinDesk’s Lyllah Ledesma wrote. Read morehere. • Solana-based perpetual swaps DEX Drift Protocol raises $3.8 million:Crypto derivatives exchange Drift Protocol raised $3.8 million in a seed funding round that was led by Multicoin Capital with participation from crypto trading firms Jump Capital and Alameda, among others, CoinDesk’s Danny Nelsonreported. Drift, which focuses on perpetual swaps, or futures contracts without an expiration date, is set to launch this month with support for SOL, BTC, ETH and Solana ecosystem tokens. • Stablecoin protocol Frax’s governance token surges 80% on supply squeeze:Fractional-algorithmic stablecoin protocol Frax has jumped 80% in a single day, gaining nearly twice what bitcoin has done so far this month, CoinDesk’s Omkar Godbolereported. The protocol now trades near $14.40, according to data provided by Messari. • Tether enlists startup to help it comply with money laundering rules:Stablecoin issuer Tether has begun a trial partnership with startup software company Notabene to help combat money laundering in cross-border transactions, CoinDesk’s Cheyenne Ligonreported. Notabene, which provides software to crypto exchanges to help identify their users and track transactions, will help Tether comply with the Financial Action Task Force’s (FATF) “travel rule,” which requires disclosure of customer information of relevant transactions. • Valkyrie Files to Offer Leveraged Bitcoin Futures ETF • DCG’s $1B Pledge and an SEC Filing Kindle Fresh Speculation on ‘Grayscale Discount’ • ‘Data Pipeline’ Protocol KYVE Raises $2.8M From Industry Insiders • Winklevoss-Led Gemini Behind Bitcoin White Paper Excerpts on NYC Billboard Most digital assets in the CoinDesk 20 ended the day higher. Notable winners as of 21:00 UTC (4:00 p.m. ET): • The Graph (GRT): +11.04% • Polygon (MATIC): +10.64% • Aave (AAVE): +10.15% Notable losers: • Bitcoin (BTC): -1.46% • Filecoin (FIL): -0.79% • Dogecoin (DOGE): -0.56% \|\| Market Wrap: Long-Term Bitcoin Holders Trim Positions as Rally Stalls: Bitcoin traded in a tight range on Tuesday as extreme bullish sentiment appears to be cooling. The cryptocurrency was trading at around $62,000 at press time and is roughly flat over the past 24 hours. The bitcoin Fear & Greed Index is starting to decline from its highest level in more than seven months, which suggests buyers are starting to take some profits after a nearly 45% rise in BTC’s price over the past month. In the bitcoin futures market, leveraged funds on the Chicago Mercantile Exchange (CME) raised their bets against bitcoin rising to a record high in the week ended Oct. 19, possibly to profit from the widening gap between futures and spot markets prices, CoinDesk’s Omkar Godbole reported . For now, technical indicators suggest limited pullbacks after a retest near the $60,000 support level in bitcoin’s price was achieved earlier this week. Latest Prices Bitcoin (BTC): $62,020.52, -1.29% Ether (ETH): $4,224.98, +0.65% S&P 500: $4,574.79, +0.18% Gold: $1,793.80, -0.79% 10-year Treasury yield closed at 1.62% Slight profit taking Blockchain data show long-term bitcoin holders are starting to take some profits, which typically occurs when BTC reaches an all-time high. Based on the current price cycle, profit-taking from long-term holders appears to be modest relative to extreme levels seen at the end of a bull market phase, according to a blog post from Glassnode. The chart below shows significant accumulation of bitcoin around mid-September during a pullback in BTC’s price. And despite the slight profit-taking, current positioning by long-term holders is consistent with the early phase of a bull market, according to Glassnode. Bitcoin balance on exchanges declines The total balance of bitcoin on exchanges continues to decline, which suggests traders are holding coins in wallets instead of making them available to trade on an exchange. “Relative to the circulating supply, the bitcoin balance at exchanges sits at levels not seen since January 2018,” Arcane Research wrote in a Tuesday newsletter . “This could suggest that the demand to sell is low at the moment.” Story continues Taproot priced in? The last time the Bitcoin network locked in a major upgrade, in July 2017, the cryptocurrency’s price jumped almost 50% through Aug. 23 of that year, when the changes went live . Now, as the original blockchain network prepares for its next big upgrade in November, an upgrade that is known as Taproot , few investors are expecting a price reaction anywhere near that scale. BTC’s price has already doubled this year and hit a new all-time high near $67,000 last week. While further gains are possible, Taproot alone likely won’t be the catalyst, CoinDesk’s Lyllah Ledesma wrote. Read more here . Altcoin roundup Solana-based perpetual swaps DEX Drift Protocol raises $3.8 million: Crypto derivatives exchange Drift Protocol raised $3.8 million in a seed funding round that was led by Multicoin Capital with participation from crypto trading firms Jump Capital and Alameda, among others, CoinDesk’s Danny Nelson reported . Drift, which focuses on perpetual swaps, or futures contracts without an expiration date, is set to launch this month with support for SOL, BTC, ETH and Solana ecosystem tokens. Stablecoin protocol Frax’s governance token surges 80% on supply squeeze: Fractional-algorithmic stablecoin protocol Frax has jumped 80% in a single day, gaining nearly twice what bitcoin has done so far this month, CoinDesk’s Omkar Godbole reported . The protocol now trades near $14.40, according to data provided by Messari. Tether enlists startup to help it comply with money laundering rules: Stablecoin issuer Tether has begun a trial partnership with startup software company Notabene to help combat money laundering in cross-border transactions, CoinDesk’s Cheyenne Ligon reported . Notabene, which provides software to crypto exchanges to help identify their users and track transactions, will help Tether comply with the Financial Action Task Force’s (FATF) “travel rule,” which requires disclosure of customer information of relevant transactions. Relevant News Valkyrie Files to Offer Leveraged Bitcoin Futures ETF DCG’s $1B Pledge and an SEC Filing Kindle Fresh Speculation on ‘Grayscale Discount’ ‘Data Pipeline’ Protocol KYVE Raises $2.8M From Industry Insiders Winklevoss-Led Gemini Behind Bitcoin White Paper Excerpts on NYC Billboard Other markets Most digital assets in the CoinDesk 20 ended the day higher. Notable winners as of 21:00 UTC (4:00 p.m. ET): The Graph (GRT): +11.04% Polygon (MATIC): +10.64% Aave (AAVE): +10.15% Notable losers: Bitcoin (BTC): -1.46% Filecoin (FIL): -0.79% Dogecoin (DOGE): -0.56% \|\| Direxion Files for Short Bitcoin Futures ETF: Exchange-traded fund (ETF) issuer Direxion wants to short the price of a bitcoin futures contract. According toa filingwith the U.S. Securities and Exchange Commission (SEC) on Tuesday, the Direxion Bitcoin Strategy Bear ETF will maintain short exposure to bitcoin futures contracts issued by the Chicago Mercantile Exchange. The product won’t directly invest in bitcoin. Shorting is a bet that the price of something – in this case, bitcoin futures contracts – will go down over a certain period of time. The ETF might also invest in other bitcoin futures ETFs or money market funds, deposit accounts or short-term debt instruments. “The fund will generally maintain its short exposure to bitcoin futures during periods in which the value of bitcoin is flat or declining as well as during periods in which the value of bitcoin is rising,” the filing said. This is Direxion’s first bitcoin ETF filing in three years, after the SEC rejected past efforts. Direxion isn’t the only issuer hoping to put a creative spin on bitcoin futures ETFs. On Tuesday, Valkyrie Investments filed to offer an ever-so-slightly leveraged bitcoin futures ETF. Valkyrie was one of two firms to launch the first bitcoin futures ETF products last week. Although the SEC has proven receptive to a narrow class of bitcoin ETFs – after years of stonewalling – it has not yet weighed in on these more ambitious follow-ups. The agency has 75 days to respond before Direxion’s ETF would automatically take effect. \|\| Direxion Files for Short Bitcoin Futures ETF: Exchange-traded fund (ETF) issuer Direxion wants to short the price of a bitcoin futures contract. According to a filing with the U.S. Securities and Exchange Commission (SEC) on Tuesday, the Direxion Bitcoin Strategy Bear ETF will maintain short exposure to bitcoin futures contracts issued by the Chicago Mercantile Exchange. The product wont directly invest in bitcoin. Shorting is a bet that the price of something in this case, bitcoin futures contracts will go down over a certain period of time. The ETF might also invest in other bitcoin futures ETFs or money market funds, deposit accounts or short-term debt instruments. The fund will generally maintain its short exposure to bitcoin futures during periods in which the value of bitcoin is flat or declining as well as during periods in which the value of bitcoin is rising, the filing said. This is Direxions first bitcoin ETF filing in three years, after the SEC rejected past efforts. Direxion isnt the only issuer hoping to put a creative spin on bitcoin futures ETFs. On Tuesday, Valkyrie Investments filed to offer an ever-so-slightly leveraged bitcoin futures ETF. Valkyrie was one of two firms to launch the first bitcoin futures ETF products last week. Although the SEC has proven receptive to a narrow class of bitcoin ETFs after years of stonewalling it has not yet weighed in on these more ambitious follow-ups. The agency has 75 days to respond before Direxions ETF would automatically take effect. \|\| Direxion Files for Short Bitcoin Futures ETF: Exchange-traded fund (ETF) issuer Direxion wants to short the price of a bitcoin futures contract. According toa filingwith the U.S. Securities and Exchange Commission (SEC) on Tuesday, the Direxion Bitcoin Strategy Bear ETF will maintain short exposure to bitcoin futures contracts issued by the Chicago Mercantile Exchange. The product won’t directly invest in bitcoin. Shorting is a bet that the price of something – in this case, bitcoin futures contracts – will go down over a certain period of time. The ETF might also invest in other bitcoin futures ETFs or money market funds, deposit accounts or short-term debt instruments. “The fund will generally maintain its short exposure to bitcoin futures during periods in which the value of bitcoin is flat or declining as well as during periods in which the value of bitcoin is rising,” the filing said. This is Direxion’s first bitcoin ETF filing in three years, after the SEC rejected past efforts. Direxion isn’t the only issuer hoping to put a creative spin on bitcoin futures ETFs. On Tuesday, Valkyrie Investments filed to offer an ever-so-slightly leveraged bitcoin futures ETF. Valkyrie was one of two firms to launch the first bitcoin futures ETF products last week. Although the SEC has proven receptive to a narrow class of bitcoin ETFs – after years of stonewalling – it has not yet weighed in on these more ambitious follow-ups. The agency has 75 days to respond before Direxion’s ETF would automatically take effect. \|\| Crypto Platform Bakkt Inks Two Massive Partnerships Amid Public Debut — Stock Soars by Over 230%: Crypto platform Bakkt, whichwent public earlier this month on the New York Stock Exchange, has partnered with two financial giants — Mastercard and Fiserv — to expand crypto access to both behemoths’ customers. Following the news, Bakkt’s stock soared 234% yesterday, according to The Motley Fool. See:8 Best Cryptocurrencies To Invest In for 2021Find:5 Reasons Why Accepting Crypto Right Now Is Good for Your Business “We couldn’t be more excited to partner with Mastercard to combine loyalty and crypto to create new and innovative options for merchants and consumers,” Gavin Michael, CEO ofBakkt, told GOBankingRates. “Broad adoption of digital assets is already underway and embedding opportunities for consumers to transact in and earn rewards in crypto, will lower barriers and accelerate the trend.” The partnership with Mastercard will enable consumers to buy, sell and hold digital assets through custodial wallets powered by the Bakkt platform and streamlined issuance of branded crypto debit and credit cards, according to an announcement. Mastercard will also integrate crypto into its loyalty solutions, enabling its partners to offer cryptocurrency as rewards and create fungibility between loyalty points and other digital assets. This means that consumers can earn and spend rewards in cryptocurrency instead of traditional loyalty points and seamlessly convert their crypto holdings to pay for purchases, according to the announcement. Mastercard is committed to offering a wide range of payment solutions that deliver more choice, value and impact every day,” Sherri Haymond, executive vice president, Digital Partnerships at Mastercard, said in the announcement. “Together with Bakkt and grounded by our principled approach to innovation, we’ll not only empower our partners to offer a dynamic mix of digital assets options, but also deliver differentiated and relevant consumer experiences.” Related:Robinhood’s Crypto Wallet Waitlist Tops 1 Million Signups As for the partnership with Fiserv, it will “enable practical uses of crypto and emerging market classes,” according to an announcement. “This partnership with Fiserv marks an important moment as we together create opportunities for consumers to seamlessly and at their own pace introduce digital assets into their daily habits,” Sheela Zemlin, Chief Revenue Officer at Bakkt, said in the announcement. “Whether it be buying bitcoin from within a financial institution’s app, redeeming loyalty points from their favorite restaurant for merchandise, using a digital asset wallet, or getting paid in bitcoin for their side gig grocery delivery runs, consumers will have new opportunities to participate in the digital economy.” While interest in cryptocurrencies is growing among consumers and businesses alike, many companies have been hesitant to enter the crypto space, Joe Tenebruso, acontributing Motley Fool analyst, told GOBankingRates. More:New Crypto Copy-Trading Platform Helps Those ‘In the Know’ Guide Beginners Toward Success “Cyber hacks, fraud, and other nefarious behavior are rampant in the crypto markets, which have long — and rightfully — been viewed as theWild West of the financial world,” he added. “Bakkt, together with Mastercard and Fiserv, wants to build financial infrastructure that could make it safer for businesses to offer a wide array of crypto services to their customers. Investors are clearly excited about the potential of Bakkt’s new partnerships — and they bid up its stock to reflect their now heightened enthusiasm for its crypto-fueled growth prospects,” he continued. Earlier this month, the company had announced a partnership with Google, which enables users to add their virtual Bakkt Visa Debit Card into Google Pay to purchase goods and services online or in-store. Digital assets such as bitcoin will be converted to fiat currency for these payments to occur, according to a statement. Discover:Best Bitcoin or Crypto Wallets 2021: How To ChooseExplore:Competitor Investing Platform to Robinhood Adds Crypto Trading Capabilities Bakkt, launched in 2018 by Intercontinental Exchange, announced in January that it was planning to go public, with an enterprise value of approximately $2.1 billion, according to the announcement. Thepublic listing for Bakktfollows the business combination merger with VPC Impact Acquisition Holdings, a Chicago-based special purpose acquisition company (SPAC). More From GOBankingRates • Find Out Who Made GOBankingRates’ Best Credit Cards Lists and Get Helpful Tips • NEW POLL: How Much Will You Spend Over the Holidays Relative to Last Year? • How To Use a Credit Card Like a Pro This Holiday Season • What To Consider When Choosing a Mortgage Lender Last updated: October 26, 2021 This article originally appeared onGOBankingRates.com:Crypto Platform Bakkt Inks Two Massive Partnerships Amid Public Debut — Stock Soars by Over 230% \|\| Crypto Platform Bakkt Inks Two Massive Partnerships Amid Public Debut — Stock Soars by Over 230%: Richard Drew / AP Crypto platform Bakkt, which went public earlier this month on the New York Stock Exchange , has partnered with two financial giants — Mastercard and Fiserv — to expand crypto access to both behemoths’ customers. Following the news, Bakkt’s stock soared 234% yesterday, according to The Motley Fool. See: 8 Best Cryptocurrencies To Invest In for 2021 Find: 5 Reasons Why Accepting Crypto Right Now Is Good for Your Business “We couldn’t be more excited to partner with Mastercard to combine loyalty and crypto to create new and innovative options for merchants and consumers,” Gavin Michael, CEO of Bakkt , told GOBankingRates. “Broad adoption of digital assets is already underway and embedding opportunities for consumers to transact in and earn rewards in crypto, will lower barriers and accelerate the trend.” The partnership with Mastercard will enable consumers to buy, sell and hold digital assets through custodial wallets powered by the Bakkt platform and streamlined issuance of branded crypto debit and credit cards, according to an announcement. Mastercard will also integrate crypto into its loyalty solutions, enabling its partners to offer cryptocurrency as rewards and create fungibility between loyalty points and other digital assets. This means that consumers can earn and spend rewards in cryptocurrency instead of traditional loyalty points and seamlessly convert their crypto holdings to pay for purchases, according to the announcement. Mastercard is committed to offering a wide range of payment solutions that deliver more choice, value and impact every day,” Sherri Haymond, executive vice president, Digital Partnerships at Mastercard, said in the announcement. “Together with Bakkt and grounded by our principled approach to innovation, we’ll not only empower our partners to offer a dynamic mix of digital assets options, but also deliver differentiated and relevant consumer experiences.” Related: Robinhood’s Crypto Wallet Waitlist Tops 1 Million Signups Story continues As for the partnership with Fiserv, it will “enable practical uses of crypto and emerging market classes,” according to an announcement. “This partnership with Fiserv marks an important moment as we together create opportunities for consumers to seamlessly and at their own pace introduce digital assets into their daily habits,” Sheela Zemlin, Chief Revenue Officer at Bakkt, said in the announcement. “Whether it be buying bitcoin from within a financial institution’s app, redeeming loyalty points from their favorite restaurant for merchandise, using a digital asset wallet, or getting paid in bitcoin for their side gig grocery delivery runs, consumers will have new opportunities to participate in the digital economy.” While interest in cryptocurrencies is growing among consumers and businesses alike, many companies have been hesitant to enter the crypto space, Joe Tenebruso, a contributing Motley Fool analyst , told GOBankingRates. More: New Crypto Copy-Trading Platform Helps Those ‘In the Know’ Guide Beginners Toward Success “Cyber hacks, fraud, and other nefarious behavior are rampant in the crypto markets, which have long — and rightfully — been viewed as the Wild West of the financial world ,” he added. “Bakkt, together with Mastercard and Fiserv, wants to build financial infrastructure that could make it safer for businesses to offer a wide array of crypto services to their customers. Investors are clearly excited about the potential of Bakkt’s new partnerships — and they bid up its stock to reflect their now heightened enthusiasm for its crypto-fueled growth prospects,” he continued. Earlier this month, the company had announced a partnership with Google, which enables users to add their virtual Bakkt Visa Debit Card into Google Pay to purchase goods and services online or in-store. Digital assets such as bitcoin will be converted to fiat currency for these payments to occur, according to a statement. Discover: Best Bitcoin or Crypto Wallets 2021: How To Choose Explore: Competitor Investing Platform to Robinhood Adds Crypto Trading Capabilities Bakkt, launched in 2018 by Intercontinental Exchange, announced in January that it was planning to go public, with an enterprise value of approximately $2.1 billion, according to the announcement. The public listing for Bakkt follows the business combination merger with VPC Impact Acquisition Holdings, a Chicago-based special purpose acquisition company (SPAC). More From GOBankingRates Find Out Who Made GOBankingRates’ Best Credit Cards Lists and Get Helpful Tips NEW POLL: How Much Will You Spend Over the Holidays Relative to Last Year? How To Use a Credit Card Like a Pro This Holiday Season What To Consider When Choosing a Mortgage Lender Last updated: October 26, 2021 This article originally appeared on GOBankingRates.com : Crypto Platform Bakkt Inks Two Massive Partnerships Amid Public Debut — Stock Soars by Over 230% \|\| How Blockchain-Based Firms Are Taking Over Banking and Public Sector Roles: If you told anyone ten years ago, non-bank entities could take over the role of banks, people could easily dispute your opinion. If asked the same about public roles, the no would be even more definite. But times change fast. The dawn of blockchain in 2009 brought about one of the mostdisruptive innovationsof recent times. At first, the only blockchain firms developed were those launching cryptocurrencies or crypto exchange platforms. The launch of Ethereum and Decentralized Finance created a second blockchain revolution, and with blockchain firms offering more services. Fast forward to the present; several firms utilize blockchain technology to offer all banking services on a digital platform. Some firms even go further to provide public services, a role initially controlled by government firms. Read on to find out what banking and public sector roles are. Related:The Contribution of Banks in the Growth & Development of Entrepreneurship It is important to note a fact regarding the roles of banks and public institutions. Private firms can't perform all of their roles. Many of the functions taken up are in the finance section. For example, no one can expect a private firm to hire, train, and pay a nation's army as governments do. Neither can such firms reduceinflationby purchasing government securities in such quantities that they reduce the circulation of a currency like banks do. Below are several roles initially offered by banks and public institutions that other private companies now provide; Related:The future of cryptocurrencies? 60% of central banks already work on their own digital currencies Before cryptocurrencies came into existence, government policies and bank actions created currencies. The central bank can reduce its benchmark lending rate, which causes a drop in banking lending rates. Demand for loans surges, increasing the money supply. Such a process is called anexpansionary monetary policy. When the policy occurs on an immense scale, it is referred to asquantitative easing. The central bank can also buy bank securities using newly printed money, increasing the money available to banks for lending. The process is known as open market operations. The banking system also creates money within the economy. When banks lend money, they expand the number of bank deposits by the figure lent, and the interest rate charged. The amount of money created may go beyond the government's targets thanks to a process called the multiplier effect. After cryptocurrencies came into play, blockchain firms created digital currencies. The process of mining or staking crypto to verify a transaction increases the coin's supply via the mining or staking reward. Blockchain firms that offer cryptocurrencies such as Bitcoin, Ethereum, and9300 other altcoinsprovide a platform for parking this role. Their consensus protocols are what determine if currency creation is through mining or staking. Related:How Blockchain Startups Transform Banking and Payments Industry For a long time, the only way one could transfer remittances between borders was through banks or financial services firms. One of the largest players in the latter is Western Union. Such trusted third-party financial services providers offered to host the transfers at very high fees. Many people, especially the poor from developing nations, found such charges unsustainable. Only after other options emerged did it become apparent that the fees hurt the volume of funds transferred A much cheaper transfer of funds across borders is now possible thanks to two crucial groups of firms, crypto exchanges andcrypto-wallets. Crypto exchanges are the platforms that allow the exchange of cryptos with other cryptos or fiat money. For a crypto exchange like Coinbase, one can send cryptos at a low fee under on-chain transfers or no fee using off-chain methods. The off-chain option is, however, slower. For crypto wallets, the transfer is free. However, both the sender and the recipient need to have the wallet for a transfer to occur. When the sender shares their private keys to the recipient, an exchange is made possible by allowing the recipient to access the coins. One of the primary roles of banks is accepting customer deposits by opening accounts for them and allowing lending services. People and businesses can access the two key financial services. They enjoy safe storage of funds as well as receive capital to meet expenditures at a fee called interest on loans. Securities back the issuing of loans to safeguard the interests of the bank. A borrower's defaulting on loan payments results in one's collateral security taken by the banks to cover the defaulted amount. Related:How Blockchain Is Revolutionizing Business-Communication Networks Several blockchain projects offer banking services to their clients, as would a commercial bank. The projects are diverse, and in various fields, some provide basic saving and lending while others go much further. Innovative next-generation crypto banks balance services between the traditional finance system, blockchain, and mobile banking like Mineplex Banking. Users can buy and mine tokens and manage their crypto savings while building up their ventures without restrictions. Moreover, merging the good old banking services with new developments like the blockchain places financial institutions such as Mineplex in a good position to serve more people globally. Private firms taking up roles of firms and bodies initially seen as unshakeable is a sign of change. Blockchain-based firms can now offer banking and public sector roles in finance. Yet, the world is barely scratching the surface of blockchain. As the technology continues to mature, the world could experience a revolution where new technologies cater for key services. \|\| How Blockchain-Based Firms Are Taking Over Banking and Public Sector Roles: Shutterstock If you told anyone ten years ago, non-bank entities could take over the role of banks, people could easily dispute your opinion. If asked the same about public roles, the no would be even more definite. But times change fast. The dawn of blockchain in 2009 brought about one of the most disruptive innovations of recent times. At first, the only blockchain firms developed were those launching cryptocurrencies or crypto exchange platforms. The launch of Ethereum and Decentralized Finance created a second blockchain revolution, and with blockchain firms offering more services. Fast forward to the present; several firms utilize blockchain technology to offer all banking services on a digital platform. Some firms even go further to provide public services, a role initially controlled by government firms. Read on to find out what banking and public sector roles are. Important Banking Roles Related: The Contribution of Banks in the Growth & Development of Entrepreneurship It is important to note a fact regarding the roles of banks and public institutions. Private firms can't perform all of their roles. Many of the functions taken up are in the finance section. For example, no one can expect a private firm to hire, train, and pay a nation's army as governments do. Neither can such firms reduce inflation by purchasing government securities in such quantities that they reduce the circulation of a currency like banks do. Below are several roles initially offered by banks and public institutions that other private companies now provide; Creation of Currencies by the Government and Banks Related: The future of cryptocurrencies? 60% of central banks already work on their own digital currencies Before cryptocurrencies came into existence, government policies and bank actions created currencies. The central bank can reduce its benchmark lending rate, which causes a drop in banking lending rates. Demand for loans surges, increasing the money supply. Such a process is called an expansionary monetary policy . When the policy occurs on an immense scale, it is referred to as quantitative easing . The central bank can also buy bank securities using newly printed money, increasing the money available to banks for lending. The process is known as open market operations. The banking system also creates money within the economy. When banks lend money, they expand the number of bank deposits by the figure lent, and the interest rate charged. The amount of money created may go beyond the government's targets thanks to a process called the multiplier effect. Story continues How Banks' Roles Are Fading Away After cryptocurrencies came into play, blockchain firms created digital currencies. The process of mining or staking crypto to verify a transaction increases the coin's supply via the mining or staking reward. Blockchain firms that offer cryptocurrencies such as Bitcoin, Ethereum, and 9300 other altcoins provide a platform for parking this role. Their consensus protocols are what determine if currency creation is through mining or staking. Overseas Funds Transfers by Banks and Financial Services Companies Related: How Blockchain Startups Transform Banking and Payments Industry For a long time, the only way one could transfer remittances between borders was through banks or financial services firms. One of the largest players in the latter is Western Union. Such trusted third-party financial services providers offered to host the transfers at very high fees. Many people, especially the poor from developing nations, found such charges unsustainable. Only after other options emerged did it become apparent that the fees hurt the volume of funds transferred The Dawn of Cryptocurrencies A much cheaper transfer of funds across borders is now possible thanks to two crucial groups of firms, crypto exchanges and crypto-wallets . Crypto exchanges are the platforms that allow the exchange of cryptos with other cryptos or fiat money. For a crypto exchange like Coinbase, one can send cryptos at a low fee under on-chain transfers or no fee using off-chain methods. The off-chain option is, however, slower. For crypto wallets, the transfer is free. However, both the sender and the recipient need to have the wallet for a transfer to occur. When the sender shares their private keys to the recipient, an exchange is made possible by allowing the recipient to access the coins. Saving and Lending and Other Services Offered by Banks One of the primary roles of banks is accepting customer deposits by opening accounts for them and allowing lending services. People and businesses can access the two key financial services. They enjoy safe storage of funds as well as receive capital to meet expenditures at a fee called interest on loans. Securities back the issuing of loans to safeguard the interests of the bank. A borrower's defaulting on loan payments results in one's collateral security taken by the banks to cover the defaulted amount. How Blockchain Projects Have Taken The Role Over Related: How Blockchain Is Revolutionizing Business-Communication Networks Several blockchain projects offer banking services to their clients, as would a commercial bank. The projects are diverse, and in various fields, some provide basic saving and lending while others go much further. Innovative next-generation crypto banks balance services between the traditional finance system, blockchain, and mobile banking like Mineplex Banking. Users can buy and mine tokens and manage their crypto savings while building up their ventures without restrictions. Moreover, merging the good old banking services with new developments like the blockchain places financial institutions such as Mineplex in a good position to serve more people globally. The Revolution is Here Private firms taking up roles of firms and bodies initially seen as unshakeable is a sign of change. Blockchain-based firms can now offer banking and public sector roles in finance. Yet, the world is barely scratching the surface of blockchain. As the technology continues to mature, the world could experience a revolution where new technologies cater for key services. View comments \|\| Stock Market Today: Dow, S&P 500 Continue to Hit New Highs: person climbing ladder to sky Getty Images It was another record-setting session for the Dow Jones Industrial Average and S&P 500 Index as investors parsed the latest corporate earnings reports. On the positive side, delivery firm United Parcel Service ( UPS , +7.0%) jumped after reporting higher-than-expected earnings and revenue for its third quarter. Industrial conglomerate General Electric ( GE , +2.0%) was another post-earnings winner thanks to its upwardly revised full-year earnings guidance. SEE MORE 5 Auto Chip Stocks to Buy for High-Horsepower Potential And while a solid reading on October consumer confidence kept the major benchmarks in the green – with the Conference Board reporting the first month-over-month increase in its composite index (to 113.8 from September's 109.8) since June – negative reactions to revenue misses from social media giant Facebook ( FB , -3.9%) and defense contractor Lockheed Martin ( LMT , -11.8%) brought them off their session highs. Sign up for Kiplinger's FREE Investing Weekly e-letter for stock, ETF and mutual fund recommendations, and other investing advice. Still, the Dow closed up 0.04% at 35,756 and the S&P 500 gained 0.2% at 4,574 – new record highs – while the Nasdaq Composite added 0.06% to 15,235. SEE MORE Can AI Beat the Market? 10 Stocks to Watch Other news in the stock market today: The small-cap Russell 2000 gave back 0.7% to end at 2,296. U.S. crude oil futures rose 1.1% to finish at $84.65 per barrel. Gold futures slipped 0.7% to settle at $1,793.40 an ounce. The CBOE Volatility Index (VIX) spiked 4.9% to 15.98. Bitcoin prices fell 1.2% to $61,951.69. (Bitcoin trades 24 hours a day; prices reported here are as of 4 p.m. each trading day.) Hasbro ( HAS ) gained 3.2% after the toymaker reported higher-than-expected third-quarter adjusted earnings of $1.96 per share on inline revenues of $1.97 billion. The company's entertainment division got a lift from its "My Little Pony" and "Come From Away" productions, which helped cushion the blow from shipment delays caused by global supply chain disruptions. CFRA analyst Zachary Warring maintained a Buy rating on HAS. "The company saw 76% sales growth in entertainment as the division benefitted from resumed productions and deliveries and 32% sales growth in digital gaming as they see continued momentum in the space. We believe HAS will outperform as its entertainment and digital segments drive margins and sales higher," he wrote in a note. Google parent Alphabet ( GOOGL ) delivered a wide third-quarter beat on both the top and bottom lines. The company brought in $65.1 billion in revenues to top estimates for $63.3 billion, and earned $27.99 per share to easily exceed expectations for income of $23.48 per share. That’s a particularly strong quarter given that traffic acquisition costs of $11.5 billion were much higher than the $8.2 billion reported in the year-ago quarter. GOOGL shares, however, were down 2% in early after-hours trade. Story continues stock price chart 102621 YCharts Is the Market Poised for More Gains? Seasonality suggests the stock market has plenty of upside left. The S&P 500 tends to mark its fourth-quarter lows in late October before rising into the new year, says Ryan Detrick, chief market strategist for LPL Financial. Furthermore, Q4 is historically the strongest quarter of the year. And looking beyond seasonality, Detrick points to several signs of improving market internals and fundamentals, including the recent rebound in copper prices, the broader indexes making new highs and declining COVID-19 cases. SEE MORE ‪11 Recovery Stocks That Could Get a Vaccine Spark‬ A confluence of such signals, notes Detrick, can "clear the way for a potentially bullish environment for equities through year-end." As such, the strategist believes "tactical investors should tilt portfolios in favor of stocks over bonds relative to their respective targets." For those looking to ride this bullish wave into the new year, consider financials , which are hitting new highs after several months of stagnation. Another way to participate in seasonal tailwinds is with consumer discretionary stocks – which are outperforming the S&P 500 after lagging it for most of the summer – and could continue to do so through the key holiday shopping season. Have a look as we examine 13 of the best opportunities in the consumer discretionary sector . SEE MORE Best Online Brokers, 2021 You may also like Your Guide to Roth Conversions The 25 Cheapest U.S. Cities to Live In "Below-Average" Stocks With Above-Average Potential [Social Media Buzz] None available.	60622.14, 62227.96, 61888.83, 61318.96, 61004.41, 63226.40, 62970.05, 61452.23, 61125.68, 61527.48
Given the historical Bitcoin prices from the last 90 days, predict the next 10 daily closing prices. The historical prices are: 8693.83, 8838.38, 8994.49, 9320.35, 9081.76, 9273.52, 9527.16, 10144.56, 10701.69, 10855.37, 11011.10, 11790.92, 13016.23, 11182.81, 12407.33, 11959.37, 10817.16, 10583.13, 10801.68, 11961.27, 11215.44, 10978.46, 11208.55, 11450.85, 12285.96, 12573.81, 12156.51, 11358.66, 11815.99, 11392.38, 10256.06, 10895.09, 9477.64, 9693.80, 10666.48, 10530.73, 10767.14, 10599.11, 10343.11, 9900.77, 9811.93, 9911.84, 9870.30, 9477.68, 9552.86, 9519.15, 9607.42, 10085.63, 10399.67, 10518.17, 10821.73, 10970.18, 11805.65, 11478.17, 11941.97, 11966.41, 11862.94, 11354.02, 11523.58, 11382.62, 10895.83, 10051.70, 10311.55, 10374.34, 10231.74, 10345.81, 10916.05, 10763.23, 10138.05, 10131.06, 10407.96, 10159.96, 10138.52, 10370.82, 10185.50, 9754.42, 9510.20, 9598.17, 9630.66, 9757.97, 10346.76, 10623.54, 10594.49, 10575.53, 10353.30, 10517.25, 10441.28, 10334.97, 10115.98, 10178.37.	[Bitcoin Technical Analysis for 2019-09-11] Volume: 15428063426, RSI (14-day): 47.21, 50-day EMA: 10334.78, 200-day EMA: 8618.18 [Wider Market Context] Gold Price: 1494.40, Gold RSI: 48.21 Oil Price: 55.75, Oil RSI: 49.64 [Recent News (last 7 days)] Binance creates NYDFS-approved US dollar stablecoin ahead of US launch: Crypto exchange giantBinancehas partnered withstablecoinproviderPaxosto launch BUSD, a stablecoin backed by the US dollar, it announced in a press release today. It has regulatory approval from The New York State Department of Financial Services (NYDFS) so it can be sold to people living in New York. The coin will start trading on Paxos’ and Binance’s exchange platforms later this month.Paxoswill issue the coin and look after the reserves of dollars–and Paxos customers will be able to trade the coin for real US dollars. On Binance, meanwhile, BUSD will be traded against BTC, BNB, and XRP. “We hope to unlock more financial services for the greater blockchain ecosystem through the issuance of BUSD, including more use cases and utility through the power of stable digital assets,” said Binance CEO Changpeng Zhao. The stablecoin’s launch in New York—one of the strictest financial regulatory environments—puts Binance in good stead ahead of its forthcomingUS launch, showing it can cooperate with regulators, if indirectly via a second company. While this doesn’t mean Binance’supcoming US platformwill be available in New York—it would require a BitLicense to do so—it helps to provide the exchange with a US-dollar stablecoin that customers can use. “NYDFS’s approval of BUSD is a vital step towards long term stability in global crypto markets,” said Paxos CEO Rich Teo. BUSD joins other stablecoins already issued on Binance’s nativeblockchain, including StableUSD and a GBP-backed stablecoin called Binance GBP. Crypto gold rush: Paxos launches gold-backed stablecoin While Binance has expanded its stablecoin offering, it continues to developVenus, an initiative to create multiple stablecoins for itself and other companies on Binance Chain.A press releaselast month described Venus as an “independent, regional version” of Facebook’s Libra. On top of the partnership, Paxos also announced it was launching its own gold-backed stablecoin. It’ll run on Ethereum but instead of being redeemable for US dollars, it can be swapped for gold, stored in a London vault. Binance is one of the largest crypto exchanges by volume, and Paxos has its own eponymously-named, dollar-backed stablecoin, running as a token on the Ethereum network. \|\| Binance creates NYDFS-approved US dollar stablecoin ahead of US launch: Crypto exchange giant Binance has partnered with stablecoin provider Paxos to launch BUSD, a stablecoin backed by the US dollar, it announced in a press release today. It has regulatory approval from The New York State Department of Financial Services (NYDFS) so it can be sold to people living in New York. The coin will start trading on Paxos and Binances exchange platforms later this month. Paxos will issue the coin and look after the reserves of dollarsand Paxos customers will be able to trade the coin for real US dollars. On Binance, meanwhile, BUSD will be traded against BTC, BNB, and XRP. We hope to unlock more financial services for the greater blockchain ecosystem through the issuance of BUSD, including more use cases and utility through the power of stable digital assets, said Binance CEO Changpeng Zhao. The stablecoins launch in New Yorkone of the strictest financial regulatory environmentsputs Binance in good stead ahead of its forthcoming US launch , showing it can cooperate with regulators, if indirectly via a second company. While this doesnt mean Binances upcoming US platform will be available in New Yorkit would require a BitLicense to do soit helps to provide the exchange with a US-dollar stablecoin that customers can use. NYDFSs approval of BUSD is a vital step towards long term stability in global crypto markets, said Paxos CEO Rich Teo. BUSD joins other stablecoins already issued on Binances native blockchain , including StableUSD and a GBP-backed stablecoin called Binance GBP. Crypto gold rush: Paxos launches gold-backed stablecoin While Binance has expanded its stablecoin offering, it continues to develop Venus , an initiative to create multiple stablecoins for itself and other companies on Binance Chain. A press release last month described Venus as an independent, regional version of Facebooks Libra. On top of the partnership, Paxos also announced it was launching its own gold-backed stablecoin. Itll run on Ethereum but instead of being redeemable for US dollars, it can be swapped for gold, stored in a London vault. Binance is one of the largest crypto exchanges by volume, and Paxos has its own eponymously-named, dollar-backed stablecoin, running as a token on the Ethereum network. \|\| ETF Strategies That Can Help Meet the Challenges Ahead: This article was originally published on ETFTrends.com. As ETF investors build out their portfolios to adapt to changing markets, it's important to keep in mind key trends that may shape the economic and market landscape over the next few years and look to strategies to cope with these shifts. In the recent webcast, Riding the Trends: Five Year Outlook , Dan Phillips, Director Asset Allocation Strategy at Northern Trust Asset Management, argued that there are a number of global trends that investors should watch out for, including the global growth restructuring, irreconcilable differences between the U.S. and China, the so-called stuckflation phenomena, executive power plays, monetary makeover and climate risk. "We believe a shifting economic model - due to geopolitical and technological developments - will slow growth," Phillips said. For example, global trade made up 58% of the world's GDP, but we are seeing trade as a percentage of GDP slipping among various countries, notably in China, the world's second largest economy. Growth is also expected to slowdown ahead. The U.S. experienced a trailing 5-year real GDP growth rate of 2.6%, but Northern Trust anticipates the U.S. experience a 5-year annualized GDP growth rate of 1.7% ahead. Meanwhile, other developed economies in Europe, Japan, the United Kingdom and Canada will also see growth lower than the U.S. "Our analysis suggests that the fractious U.S.-China relationship will produce a cascade of geopolitical, economic and market changes," Phillips said. As a percentage of total trade, we are seeing the U.S. rely more heavily on its neighbors, notably Canada, which accounts for 62.9% of total trade with the U.S. Meanwhile, China has shifted its trade relations to heavily rely on Australia, which accounts for 29.4% of total trade with China. "Muted growth in global demand and timid policy responses suggest Stuckflation is here to stay," Phillips said. Many countries around the world are struggling to stimulate the high growth that would come with high inflation. Over the past decade, the U.S. has seen core inflation exceed the Federal Reserve's 2% target only 5% of the time. Meanwhile, inflation in Europe has never exceeded 2% and inflation in Japan topped 2% 10% of the time in the same period. Phillips now argued that the 2% inflation level acts more like a ceiling than a real target since many developed economies have failed to reach the target level. Story continues ETF Plays for Inflation Expectations Investors can look to something like the FlexShares iBoxx 3-Year Target Duration TIPS Index Fund (NYSEArca: TDTT) and FlexShares iBoxx 5Yr Target Duration TIPS ETF ( TDTF ) to better handle a case of stuckflation. While inflation expectations may remain muted now, investors are already looking into TIPS as a hedge against rising prices ahead. TIPS returns are affected by interest-rate risk as well as changes in the principal value when the Consumer Price Index moves. TIPS will adjust their principal value upward in response to a higher CPI, but the reverse occurs during periods of deflation. "Solid growth has pacified power grab concerns, but leaders are at risk of overplaying their hands," Phillips said. Philips underscored the fractured party politics found in Europe as the European Parliament has more voices to be heard and represent vastly different groups of people. Looking ahead, he argued that smaller parties will continue to gain in popularity and take a bigger slice of the pie away from party majorities, notably from the Group of the European People's Party and Group of the Progressive Alliance of Socialists and Democrats. "Stuckflation has left central banks without a North Star and seeking relevance as their independence is challenged," Phillips said. Given the low inflationary pressures, global central banks have had more room to throw money at their economies to stimulate growth. The Japanese central bank's balance sheet has now expanded to 101% of GDP from 21% back in 2007. Meanwhile, central bank balance sheets have grown to 19% of U.S. GDP from 6%, 40% of European GDP from 16% and 22% of U.K. GDP from 2%. ETFs to address monetary makeover The strategist also pointed out alternative assets to address monetary makeover, such as the FlexShares STOXX Global Broad Infrastructure Index Fund ( NFRA ) , which offer investors sound fundamentals and above-average dividend yields, making the asset class appealing in the current market environment. The FlexShares Global Quality Real Estate Index Fund ( GQRE ) can also be seen as a haven with less exposure to trade conflicts and REITs typically do well in an environment of falling interest rates. "Climate risk regulatory impacts will likely slowly build, but with high dispersion and sporadic embracement," Phillips said. Many economies are already looking to combat the negative effects of climate change. There will be growing pains as countries make the shift, such as higher fuel standards, clean energy requirements and updated building codes that would increase costs. Environmental, social and governance, or ESG, investing concepts are receiving increased attention as more look to the benefits of addressing climate risks. The FlexShares STOXX US ESG Impact Index Fund (CBOE:ESG) is one way for investors to tap virtuous market concepts. The ETF also has a global counterpart, the FlexShares STOXX Global ESG Impact Index Fund ( ESGG ) . As investors are faced with an increasingly volatile market environment, Phillips highlighted quality and low-volatility ETF strategies, such as the FlexShares US Quality Low Volatility Index Fund (NYSE:QLV) , FlexShares Developed Markets ex-US Quality Low Volatility Index Fund (NYSE:QLVD) and FlexShares Emerging Markets Quality Low Volatility Index Fund (NYSE:QLVE) to better manage downside risks but still maintain upside potential. Financial advisors who are interested in learning more about market trends ahead can watch the webcast here on demand . POPULAR ARTICLES AND RESOURCES FROM ETFTRENDS.COM SPY ETF Quote VOO ETF Quote QQQ ETF Quote VTI ETF Quote JNUG ETF Quote Top 34 Gold ETFs Top 34 Oil ETFs Top 57 Financials ETFs Heated Tobacco May Replace Vaping Amidst Consumer Issues VanEck And SolidX Take First Steps For Bitcoin-Related ETF Approvals Could Inverse ETFs Thrive In September? Social Media Stock SNAP Gets An Upgrade Gold, Precious Metals ETFs Surge on Geopolitical Uncertainty READ MORE AT ETFTRENDS.COM > \|\| ETF Strategies That Can Help Meet the Challenges Ahead: This article was originally published onETFTrends.com. As ETF investors build out their portfolios to adapt to changing markets, it's important to keep in mind key trends that may shape the economic and market landscape over the next few years and look to strategies to cope with these shifts. In the recent webcast,Riding the Trends: Five Year Outlook, Dan Phillips, Director Asset Allocation Strategy at Northern Trust Asset Management, argued that there are a number of global trends that investors should watch out for, including the global growth restructuring, irreconcilable differences between the U.S. and China, the so-called stuckflation phenomena, executive power plays, monetary makeover and climate risk. "We believe a shifting economic model - due to geopolitical and technological developments - will slow growth," Phillips said. For example, global trade made up 58% of the world's GDP, but we are seeing trade as a percentage of GDP slipping among various countries, notably in China, the world's second largest economy. Growth is also expected to slowdown ahead. The U.S. experienced a trailing 5-year real GDP growth rate of 2.6%, but Northern Trust anticipates the U.S. experience a 5-year annualized GDP growth rate of 1.7% ahead. Meanwhile, other developed economies in Europe, Japan, the United Kingdom and Canada will also see growth lower than the U.S. "Our analysis suggests that the fractious U.S.-China relationship will produce a cascade of geopolitical, economic and market changes," Phillips said. As a percentage of total trade, we are seeing the U.S. rely more heavily on its neighbors, notably Canada, which accounts for 62.9% of total trade with the U.S. Meanwhile, China has shifted its trade relations to heavily rely on Australia, which accounts for 29.4% of total trade with China. "Muted growth in global demand and timid policy responses suggest Stuckflation is here to stay," Phillips said. Many countries around the world are struggling to stimulate the high growth that would come with high inflation. Over the past decade, the U.S. has seen core inflation exceed the Federal Reserve's 2% target only 5% of the time. Meanwhile, inflation in Europe has never exceeded 2% and inflation in Japan topped 2% 10% of the time in the same period. Phillips now argued that the 2% inflation level acts more like a ceiling than a real target since many developed economies have failed to reach the target level. ETF Plays for Inflation Expectations Investors can look to something like theFlexShares iBoxx 3-Year Target Duration TIPS Index Fund (NYSEArca:TDTT)andFlexShares iBoxx 5Yr Target Duration TIPS ETF (TDTF)to better handle a case of stuckflation. While inflation expectations may remain muted now, investors are already looking into TIPS as a hedge against rising prices ahead. TIPS returns are affected by interest-rate risk as well as changes in the principal value when the Consumer Price Index moves. TIPS will adjust their principal value upward in response to a higher CPI, but the reverse occurs during periods of deflation. "Solid growth has pacified power grab concerns, but leaders are at risk of overplaying their hands," Phillips said. Philips underscored the fractured party politics found in Europe as the European Parliament has more voices to be heard and represent vastly different groups of people. Looking ahead, he argued that smaller parties will continue to gain in popularity and take a bigger slice of the pie away from party majorities, notably from the Group of the European People's Party and Group of the Progressive Alliance of Socialists and Democrats. "Stuckflation has left central banks without a North Star and seeking relevance as their independence is challenged," Phillips said. Given the low inflationary pressures, global central banks have had more room to throw money at their economies to stimulate growth. The Japanese central bank's balance sheet has now expanded to 101% of GDP from 21% back in 2007. Meanwhile, central bank balance sheets have grown to 19% of U.S. GDP from 6%, 40% of European GDP from 16% and 22% of U.K. GDP from 2%. ETFs to address monetary makeover The strategist also pointed out alternative assets to address monetary makeover, such as theFlexShares STOXX Global Broad Infrastructure Index Fund (NFRA) , which offer investors sound fundamentals and above-average dividend yields, making the asset class appealing in the current market environment. TheFlexShares Global Quality Real Estate Index Fund (GQRE) can also be seen as a haven with less exposure to trade conflicts and REITs typically do well in an environment of falling interest rates. "Climate risk regulatory impacts will likely slowly build, but with high dispersion and sporadic embracement," Phillips said. Many economies are already looking to combat the negative effects of climate change. There will be growing pains as countries make the shift, such as higher fuel standards, clean energy requirements and updated building codes that would increase costs. Environmental, social and governance, or ESG, investing concepts are receiving increased attention as more look to the benefits of addressing climate risks. TheFlexShares STOXX US ESG Impact Index Fund (CBOE:ESG)is one way for investors to tap virtuous market concepts. The ETF also has a global counterpart, theFlexShares STOXX Global ESG Impact Index Fund (ESGG) . As investors are faced with an increasingly volatile market environment, Phillips highlighted quality and low-volatility ETF strategies, such as theFlexShares US Quality Low Volatility Index Fund (NYSE:QLV),FlexShares Developed Markets ex-US Quality Low Volatility Index Fund (NYSE:QLVD)andFlexShares Emerging Markets Quality Low Volatility Index Fund (NYSE:QLVE)to better manage downside risks but still maintain upside potential. Financial advisors who are interested in learning more about market trends ahead canwatch the webcast here on demand. POPULAR ARTICLES AND RESOURCES FROM ETFTRENDS.COM • SPY ETF Quote • VOO ETF Quote • QQQ ETF Quote • VTI ETF Quote • JNUG ETF Quote • Top 34 Gold ETFs • Top 34 Oil ETFs • Top 57 Financials ETFs • Heated Tobacco May Replace Vaping Amidst Consumer Issues • VanEck And SolidX Take First Steps For Bitcoin-Related ETF Approvals • Could Inverse ETFs Thrive In September? • Social Media Stock SNAP Gets An Upgrade • Gold, Precious Metals ETFs Surge on Geopolitical Uncertainty READ MORE AT ETFTRENDS.COM > \|\| You Can Now Buy Lightning-Powered Bitcoin With a Credit Card: Payments startupBreezhas unveiled a new feature allowing lightning-based bitcoin purchases directly from its mobile app. The feature, made possible thanks to a partnership with fiat-to-crypto broker MoonPay, is available to users in 35 countries. According to the company, it simplifies the currently long-winded procedure for lightning payments. A “Layer 2” payment protocol that operates on top of a blockchain, lightning is seen by many in the blockchain industry as solving bitcoin’s scalability issues. But it remains experimental technology and users can potentially lose money during transactions due to undiscovered bugs, say security experts. Related:Bitcoin Consolidates Above $10.2K After Failed Price Breakout While buying lightning directly with a credit card sounds like a simple feature, Breez claims this functionality hasn’t been possible before now. Breez CEO and co-founder Roy Sheinfeld told CoinDesk: “Breez is not just a wallet. It’s a lightning payment service that aims to provide a holistic experience. Breez’s goal is to take the lightning technology and infrastructure and expose it in an experience regular folks could use with compromising on the bitcoin values. Other [lightning] wallets are less UX focused.” Previously, if users wanted to buy lightning, they would need to buy bitcoin, move that bitcoin to a wallet that supports lightning, then wait for that transaction to go through (the industry standard is to wait for roughly an hour to make sure the transaction is final). Buying lightning directly within a wallet allows them to skip a step. Related:Bitcoin Price Faces Drop to Support Levels Below $10K Breez’s new feature is part of a growing effort to make lightning payments less arcane for average folks. “Going into a website and going through cumbersome process just to top up your wallet with a hundred bucks is not the UX we want to provide. We aim to provide a UX that is at least on-par with fiat,” Sheinfeld said. Developers are still ironing out security problems with lightning — for example, by developing third party“watchtowers”that monitor for suspicious on-chain activity. Breez doesn’t require users to provide personal information for monthly purchases up to a total of 150 euro. But for amounts larger than that, it requires users to prove their identity underKnow Your Customer (KYC) lawsmeant to outlaw money laundering and other criminal acts. Lightningimage via Shutterstock • Massive $1 Billion Bitcoin Whale Transaction Makes Waves • Leadership Shakeup at Wasabi Wallet as Bitcoin Business Surges \|\| You Can Now Buy Lightning-Powered Bitcoin With a Credit Card: Payments startupBreezhas unveiled a new feature allowing lightning-based bitcoin purchases directly from its mobile app. The feature, made possible thanks to a partnership with fiat-to-crypto broker MoonPay, is available to users in 35 countries. According to the company, it simplifies the currently long-winded procedure for lightning payments. A “Layer 2” payment protocol that operates on top of a blockchain, lightning is seen by many in the blockchain industry as solving bitcoin’s scalability issues. But it remains experimental technology and users can potentially lose money during transactions due to undiscovered bugs, say security experts. Related:Bitcoin Consolidates Above $10.2K After Failed Price Breakout While buying lightning directly with a credit card sounds like a simple feature, Breez claims this functionality hasn’t been possible before now. Breez CEO and co-founder Roy Sheinfeld told CoinDesk: “Breez is not just a wallet. It’s a lightning payment service that aims to provide a holistic experience. Breez’s goal is to take the lightning technology and infrastructure and expose it in an experience regular folks could use with compromising on the bitcoin values. Other [lightning] wallets are less UX focused.” Previously, if users wanted to buy lightning, they would need to buy bitcoin, move that bitcoin to a wallet that supports lightning, then wait for that transaction to go through (the industry standard is to wait for roughly an hour to make sure the transaction is final). Buying lightning directly within a wallet allows them to skip a step. Related:Bitcoin Price Faces Drop to Support Levels Below $10K Breez’s new feature is part of a growing effort to make lightning payments less arcane for average folks. “Going into a website and going through cumbersome process just to top up your wallet with a hundred bucks is not the UX we want to provide. We aim to provide a UX that is at least on-par with fiat,” Sheinfeld said. Developers are still ironing out security problems with lightning — for example, by developing third party“watchtowers”that monitor for suspicious on-chain activity. Breez doesn’t require users to provide personal information for monthly purchases up to a total of 150 euro. But for amounts larger than that, it requires users to prove their identity underKnow Your Customer (KYC) lawsmeant to outlaw money laundering and other criminal acts. Lightningimage via Shutterstock • Massive $1 Billion Bitcoin Whale Transaction Makes Waves • Leadership Shakeup at Wasabi Wallet as Bitcoin Business Surges \|\| Data Shows Growth Versus Value Stock Performance May Be Shifting: This article was originally published on ETFTrends.com. After four green days in a row for U.S. markets, stocks closed slightly lower Monday, selling off during the session but then rebounding some toward the close. As a result, the S&P 500 closed little changed for the session, but value stocks, which typically have low multiples and stable fundamentals, significantly outperformed their growth counterparts. The iShares Edge MSCI USA Value Factor ETF (VLUE) climbed 1.8% on Monday while the iShares Edge MSCI USA Momentum Factor ETF (MTUM) slumped 1.7%. Data compiled by Bespoke Investment Group displayed this was momentum’s worst daily performance relative to value since its inception in early 2013. VLUE has been rising again Tuesday, trading 0.5% higher while the momentum fund dropped another 1.3%. The momentum fund was also targeting its third straight down day. One major concern for investors is that momentum stocks, with generally large growth expectations relative to the broader market, have outperformed value names in recent years. Thus, a shift away from momentum could signify in a downturn for the broader market. Value stocks usually trade at lower prices relative to fundamental measures of value, like earnings and the book value of assets. On the other hand, growth-oriented stocks tend to run at higher valuations since investors expect the rapid growth in those company measures, but more are growing wary of high valuations. The factor has been a laggard over the course of much of this bull market, prompting speculation as to when value stocks will again be in style. During periods of accelerating growth, asset categories including value, small-cap and cyclical stocks that exhibit high levels of business leverage and needed access to credit tend to outperform. On the other hand, when we are in a slow down or a contraction, the growth, large-cap and defensive categories outperformed as they provide more diversified businesses and showed lower fixed costs to help them weather economic storms. Story continues “The rotation, despite it being a positive signal in terms of investor macro sentiment, is probably a net negative for the overall SPX in that super-cap tech will likely be caught up in the selling and these stocks dominate the index weighting,” Adam Crisafulli, executive director at J.P. Morgan, said in a note. Unique ETFs, namely the Direxion Russell 1000 Growth Over Value ETF ( RWGV ) and the Direxion Russell 1000 Value Over Growth ETF ( RWVG ) , allow investors to tap the chasm between growth and value stocks. If investors believe that value-oriented equities will outperform growth-oriented equities, RWVG provides a means to not only see value opportunities perform well, but as a way to capitalize on their outperformance compared to growth. For investors looking for pure value plays however, well-known value ETFs like the iShares Russell 1000 Value ETF (IWD) , iShares MSCI USA Value Factor ETF (CBOE:VLUE) , Vanguard Value Index Fund ETF Shares ( VTV ) and the Vanguard Small-Cap Value ETF (VBR) could be good choices. POPULAR ARTICLES AND RESOURCES FROM ETFTRENDS.COM SPY ETF Quote VOO ETF Quote QQQ ETF Quote VTI ETF Quote JNUG ETF Quote Top 34 Gold ETFs Top 34 Oil ETFs Top 57 Financials ETFs Heated Tobacco May Replace Vaping Amidst Consumer Issues VanEck And SolidX Take First Steps For Bitcoin-Related ETF Approvals Could Inverse ETFs Thrive In September? Social Media Stock SNAP Gets An Upgrade Gold, Precious Metals ETFs Surge on Geopolitical Uncertainty READ MORE AT ETFTRENDS.COM > \|\| Data Shows Growth Versus Value Stock Performance May Be Shifting: This article was originally published onETFTrends.com. After four green days in a row for U.S. markets, stocks closed slightly lower Monday, selling off during the session but then rebounding some toward the close. As a result, the S&P 500 closed little changed for the session, but value stocks, which typically have low multiples and stable fundamentals, significantly outperformed their growth counterparts. TheiShares Edge MSCI USA Value Factor ETF (VLUE)climbed 1.8% on Monday while theiShares Edge MSCI USA Momentum Factor ETF (MTUM)slumped 1.7%. Data compiled by Bespoke Investment Group displayed this was momentum’s worst daily performance relative to value since its inception in early 2013. VLUE has been rising again Tuesday, trading 0.5% higher while the momentum fund dropped another 1.3%. The momentum fund was also targeting its third straight down day. One major concern for investors is that momentum stocks, with generally large growth expectations relative to the broader market, have outperformed value names in recent years. Thus, a shift away from momentum could signify in a downturn for the broader market. Value stocks usually trade at lower prices relative to fundamental measures of value, like earnings and the book value of assets. On the other hand, growth-oriented stocks tend to run at higher valuations since investors expect the rapid growth in those company measures, but more are growing wary of high valuations. The factor has been a laggard over the course of much of this bull market, prompting speculation as to when value stocks will again be in style. During periods of accelerating growth, asset categories including value, small-cap and cyclical stocks that exhibit high levels of business leverage and needed access to credit tend to outperform. On the other hand, when we are in a slow down or a contraction, the growth, large-cap and defensive categories outperformed as they provide more diversified businesses and showed lower fixed costs to help them weather economic storms. “The rotation, despite it being a positive signal in terms of investor macro sentiment, is probably a net negative for the overall SPX in that super-cap tech will likely be caught up in the selling and these stocks dominate the index weighting,” Adam Crisafulli, executive director at J.P. Morgan, said in a note. Unique ETFs, namely theDirexion Russell 1000 Growth Over Value ETF (RWGV) and theDirexion Russell 1000 Value Over Growth ETF (RWVG) , allow investors to tap the chasm between growth and value stocks. If investors believe that value-oriented equities will outperform growth-oriented equities, RWVG provides a means to not only see value opportunities perform well, but as a way to capitalize on their outperformance compared to growth. For investors looking for pure value plays however, well-known value ETFs like theiShares Russell 1000 Value ETF (IWD),iShares MSCI USA Value Factor ETF (CBOE:VLUE),Vanguard Value Index Fund ETF Shares (VTV) and theVanguard Small-Cap Value ETF (VBR)could be good choices. POPULAR ARTICLES AND RESOURCES FROM ETFTRENDS.COM • SPY ETF Quote • VOO ETF Quote • QQQ ETF Quote • VTI ETF Quote • JNUG ETF Quote • Top 34 Gold ETFs • Top 34 Oil ETFs • Top 57 Financials ETFs • Heated Tobacco May Replace Vaping Amidst Consumer Issues • VanEck And SolidX Take First Steps For Bitcoin-Related ETF Approvals • Could Inverse ETFs Thrive In September? • Social Media Stock SNAP Gets An Upgrade • Gold, Precious Metals ETFs Surge on Geopolitical Uncertainty READ MORE AT ETFTRENDS.COM > \|\| Bakkt to Require $3.9K Down Payment on Bitcoin Futures Contracts: Bakkt has officially revealed the initial deposits its customers will have to make to margin trade its bitcoin futures products. In a new notice posted Tuesday, ICE Futures U.S. – the actual futures exchange Bakkt’s contracts are trading on – announced the initial hedge and speculative requirements for customers, as well as its monthly rate add-ons. John Todaro, director of research at TradeBlock, told CoinDesk that the initial margin requirements are “the amount of assets (collateral) that need to be pledged in order to open a position.” Related: Customers Can Deposit Bitcoin to Bakkt’s Warehouse Starting Next Week According to Tuesday’s notice, customers will have a $3,900 deposit requirement for both Bakkt’s daily and monthly futures contracts as an initial hedge. The speculative initial requirements will be somewhat higher, at $4,290 each. The initial hedge requirements are for accounts which already have exposure to bitcoin, Todaro said, adding: “Speculative requirements are for those accounts that are speculating on the price move on bitcoin through futures contracts. The CFTC and other regulating agencies have rules in place to protect futures markets from excessive speculation, which can lead to deviant price fluctuations, volatility, etc.” Add-ons Similarly to the initial hedge and speculation rates, Bakkt’s inter-month add-ons differ. Related: Bakkt Says It’s ‘Cleared to Launch’ Bitcoin Futures Next Month Both the monthly and daily futures contracts will have a $400-$1,000 hedge rate, but the speculative rate will fluctuate from $440-$1,100. A footnote clarifies that the margin rate will vary depending on the expiration date and the “difference in expiration dates of contracts.” “As contracts trade over time, there then becomes a maintenance requirement in order to keep your position open,” Todaro said. “Depending on market movements, this position may require you to allocate more funds to return the initial margin required.” The notice also included an inter-commodity spread credit percentage rate, which Todaro explained relates to the credit “available for offsetting positions in related instruments.” With bitcoin currently trading around $10,000, Tuesday’s notice matches the predicted margin rates detailed in a FAQ Bakkt published last month, which noted that the initial margin was “expected to be approximately 37 [percent] for outright contracts.” While the FAQ said the spread was expected to range from $400 to $800, it did note that the “ICUS risk department reserves the right to adjust the margin level based on market conditions.” Story continues Upcoming launch The notice comes less than two weeks before Bakkt is expected to launch its highly-anticipated futures contracts on Sept. 23. When Bakkt was first announced in August 2018, the company said it would not support margin trading. However, the warehouse seemingly moved away from this position when it announced its September launch date last month. Bakkt CEO Kelly Loeffler previously told CoinDesk that Bakkt’s daily contract would be margined. At the time, Loeffler did not say how much leverage would be available for the contracts. The company’s warehouse, which will actually hold customers’ bitcoin, began accepting customer deposits on Sept. 6. The company has declined to share how much it has received to date or the wallet address for its holdings. Tuesday’s notice noted that the margin requirements were “tentative.” UPDATE (Sept. 10, 2019, 18:20 UTC): This article has been updated with additional comment. Kelly Loeffler image via CoinDesk archives Related Stories Seed CX Begins Testing Swap Contracts Settled in Real Bitcoin Senior CFTC Official Who Set Bitcoin Futures Policy Is Leaving: Report View comments \|\| Bakkt to Require $3.9K Down Payment on Bitcoin Futures Contracts: Bakkt has officially revealed the initial deposits its customers will have to make to margin trade its bitcoin futures products. In a new notice posted Tuesday, ICE Futures U.S. – the actual futures exchange Bakkt’s contracts are trading on – announced the initial hedge and speculative requirements for customers, as well as its monthly rate add-ons. John Todaro, director of research at TradeBlock, told CoinDesk that the initial margin requirements are “the amount of assets (collateral) that need to be pledged in order to open a position.” Related: Customers Can Deposit Bitcoin to Bakkt’s Warehouse Starting Next Week According to Tuesday’s notice, customers will have a $3,900 deposit requirement for both Bakkt’s daily and monthly futures contracts as an initial hedge. The speculative initial requirements will be somewhat higher, at $4,290 each. The initial hedge requirements are for accounts which already have exposure to bitcoin, Todaro said, adding: “Speculative requirements are for those accounts that are speculating on the price move on bitcoin through futures contracts. The CFTC and other regulating agencies have rules in place to protect futures markets from excessive speculation, which can lead to deviant price fluctuations, volatility, etc.” Add-ons Similarly to the initial hedge and speculation rates, Bakkt’s inter-month add-ons differ. Related: Bakkt Says It’s ‘Cleared to Launch’ Bitcoin Futures Next Month Both the monthly and daily futures contracts will have a $400-$1,000 hedge rate, but the speculative rate will fluctuate from $440-$1,100. A footnote clarifies that the margin rate will vary depending on the expiration date and the “difference in expiration dates of contracts.” “As contracts trade over time, there then becomes a maintenance requirement in order to keep your position open,” Todaro said. “Depending on market movements, this position may require you to allocate more funds to return the initial margin required.” The notice also included an inter-commodity spread credit percentage rate, which Todaro explained relates to the credit “available for offsetting positions in related instruments.” With bitcoin currently trading around $10,000, Tuesday’s notice matches the predicted margin rates detailed in a FAQ Bakkt published last month, which noted that the initial margin was “expected to be approximately 37 [percent] for outright contracts.” While the FAQ said the spread was expected to range from $400 to $800, it did note that the “ICUS risk department reserves the right to adjust the margin level based on market conditions.” Story continues Upcoming launch The notice comes less than two weeks before Bakkt is expected to launch its highly-anticipated futures contracts on Sept. 23. When Bakkt was first announced in August 2018, the company said it would not support margin trading. However, the warehouse seemingly moved away from this position when it announced its September launch date last month. Bakkt CEO Kelly Loeffler previously told CoinDesk that Bakkt’s daily contract would be margined. At the time, Loeffler did not say how much leverage would be available for the contracts. The company’s warehouse, which will actually hold customers’ bitcoin, began accepting customer deposits on Sept. 6. The company has declined to share how much it has received to date or the wallet address for its holdings. Tuesday’s notice noted that the margin requirements were “tentative.” UPDATE (Sept. 10, 2019, 18:20 UTC): This article has been updated with additional comment. Kelly Loeffler image via CoinDesk archives Related Stories Seed CX Begins Testing Swap Contracts Settled in Real Bitcoin Senior CFTC Official Who Set Bitcoin Futures Policy Is Leaving: Report View comments \|\| Bakkt to Require $3.9K Down Payment on Bitcoin Futures Contracts: Bakkt has officially revealed the initial deposits its customers will have to make to margin trade its bitcoin futures products. In a new notice posted Tuesday, ICE Futures U.S. – the actual futures exchange Bakkt’s contracts are trading on – announced the initial hedge and speculative requirements for customers, as well as its monthly rate add-ons. John Todaro, director of research at TradeBlock, told CoinDesk that the initial margin requirements are “the amount of assets (collateral) that need to be pledged in order to open a position.” Related: Customers Can Deposit Bitcoin to Bakkt’s Warehouse Starting Next Week According to Tuesday’s notice, customers will have a $3,900 deposit requirement for both Bakkt’s daily and monthly futures contracts as an initial hedge. The speculative initial requirements will be somewhat higher, at $4,290 each. The initial hedge requirements are for accounts which already have exposure to bitcoin, Todaro said, adding: “Speculative requirements are for those accounts that are speculating on the price move on bitcoin through futures contracts. The CFTC and other regulating agencies have rules in place to protect futures markets from excessive speculation, which can lead to deviant price fluctuations, volatility, etc.” Add-ons Similarly to the initial hedge and speculation rates, Bakkt’s inter-month add-ons differ. Related: Bakkt Says It’s ‘Cleared to Launch’ Bitcoin Futures Next Month Both the monthly and daily futures contracts will have a $400-$1,000 hedge rate, but the speculative rate will fluctuate from $440-$1,100. A footnote clarifies that the margin rate will vary depending on the expiration date and the “difference in expiration dates of contracts.” “As contracts trade over time, there then becomes a maintenance requirement in order to keep your position open,” Todaro said. “Depending on market movements, this position may require you to allocate more funds to return the initial margin required.” The notice also included an inter-commodity spread credit percentage rate, which Todaro explained relates to the credit “available for offsetting positions in related instruments.” With bitcoin currently trading around $10,000, Tuesday’s notice matches the predicted margin rates detailed in a FAQ Bakkt published last month, which noted that the initial margin was “expected to be approximately 37 [percent] for outright contracts.” While the FAQ said the spread was expected to range from $400 to $800, it did note that the “ICUS risk department reserves the right to adjust the margin level based on market conditions.” Story continues Upcoming launch The notice comes less than two weeks before Bakkt is expected to launch its highly-anticipated futures contracts on Sept. 23. When Bakkt was first announced in August 2018, the company said it would not support margin trading. However, the warehouse seemingly moved away from this position when it announced its September launch date last month. Bakkt CEO Kelly Loeffler previously told CoinDesk that Bakkt’s daily contract would be margined. At the time, Loeffler did not say how much leverage would be available for the contracts. The company’s warehouse, which will actually hold customers’ bitcoin, began accepting customer deposits on Sept. 6. The company has declined to share how much it has received to date or the wallet address for its holdings. Tuesday’s notice noted that the margin requirements were “tentative.” UPDATE (Sept. 10, 2019, 18:20 UTC): This article has been updated with additional comment. Kelly Loeffler image via CoinDesk archives Related Stories Seed CX Begins Testing Swap Contracts Settled in Real Bitcoin Senior CFTC Official Who Set Bitcoin Futures Policy Is Leaving: Report View comments \|\| Security vulnerabilities found in Bitcoin’s Lightning Network were exploited: As Bitcoin Lighting Network users await details regarding a security vulnerabilityfoundon the network late last month, developers are nowwarningthat the vulnerability has been exploited. According toOlaoluwa Osuntokun, CTO at Lightning Labs, andACINQ, a Lighting Network development firm, there are "confirmed instances of the vulnerability being exploited in the wild." Users are advised to upgrade the following affected Lightning Node versions: - LND nodes version 0.7 and below- c-lightning nodes version 0.7 and below- eclair nodes version 0.3 and below On August 30, 2019, Rusty Russell, an Australian software programmer and Bitcoin Lightning coder,tweetedout a warning that security issues had been discovered on the Lightning Network that could cause various projects to lose funds. The Lightning Network is an experimental second-layer scaling solution built on top of the Bitcoin Network for quicker fund transfers. \|\| Security vulnerabilities found in Bitcoin’s Lightning Network were exploited: As Bitcoin Lighting Network users await details regarding a security vulnerabilityfoundon the network late last month, developers are nowwarningthat the vulnerability has been exploited. According toOlaoluwa Osuntokun, CTO at Lightning Labs, andACINQ, a Lighting Network development firm, there are "confirmed instances of the vulnerability being exploited in the wild." Users are advised to upgrade the following affected Lightning Node versions: - LND nodes version 0.7 and below- c-lightning nodes version 0.7 and below- eclair nodes version 0.3 and below On August 30, 2019, Rusty Russell, an Australian software programmer and Bitcoin Lightning coder,tweetedout a warning that security issues had been discovered on the Lightning Network that could cause various projects to lose funds. The Lightning Network is an experimental second-layer scaling solution built on top of the Bitcoin Network for quicker fund transfers. \|\| Security vulnerabilities found in Bitcoin’s Lightning Network were exploited: As Bitcoin Lighting Network users await details regarding a security vulnerability found on the network late last month, developers are now warning that the vulnerability has been exploited. According to Olaoluwa Osuntokun , CTO at Lightning Labs, and ACINQ , a Lighting Network development firm, there are "confirmed instances of the vulnerability being exploited in the wild." Users are advised to upgrade the following affected Lightning Node versions: - LND nodes version 0.7 and below - c-lightning nodes version 0.7 and below - eclair nodes version 0.3 and below On August 30, 2019, Rusty Russell, an Australian software programmer and Bitcoin Lightning coder, tweeted out a warning that security issues had been discovered on the Lightning Network that could cause various projects to lose funds. The Lightning Network is an experimental second-layer scaling solution built on top of the Bitcoin Network for quicker fund transfers. \|\| Malware uses Bitcoin blockchain to target victims: Cybersecurity firm TrendMicro has discovered a piece of malware that scans the Bitcoinblockchainfor secret instructions that allow the infected computer to be controlled remotely. Glupteba, firstdiscoveredin 2011 by WeLiveSecurity, is a piece of malware that can be used to hijack someone’s computer in order to steal information or be used to carry out denial of service attacks (where thousands of computers are used to put strain on a website or network causing it to crash). It’s also been used to mineMonero, according to TrendMicro. The bug hides inside adverts or links that unsuspecting users click on—a practice known as malvertising—and then downloads itself on to the user’s machine. Once there, it then connects to the hacker’s chosen server giving them access to the infected computer. But every now and again, that connection gets disrupted, typically because it gets caught by anti-virus software, which blocks it from connecting it to the server. But more recently Glupteba has mutated, and now uses theBitcoinblockchain to reconnect to the hackers’ server without anti-virus software noticing. According to TrendMicro, the hacker makes a Bitcoin transaction with a piece of encoded data hidden within one of its functions. Inside the encoded message contains the address for its server—giving the virus a new server location. All the virus has to do is scan the Bitcoin blockchain, identify the transaction and decode the hidden message. Then it can continue doing its evil deeds. While this isn’t the fault of the Bitcoin blockchain, it’s not the first time it has been used as a way of sharing secret, and frequentlyillegalinformation. \|\| Malware uses Bitcoin blockchain to target victims: Cybersecurity firm TrendMicro has discovered a piece of malware that scans the Bitcoin blockchain for secret instructions that allow the infected computer to be controlled remotely. Glupteba , first discovered in 2011 by WeLiveSecurity, is a piece of malware that can be used to hijack someone’s computer in order to steal information or be used to carry out denial of service attacks (where thousands of computers are used to put strain on a website or network causing it to crash). It’s also been used to mine Monero , according to TrendMicro. The bug hides inside adverts or links that unsuspecting users click on—a practice known as malvertising—and then downloads itself on to the user’s machine. Once there, it then connects to the hacker’s chosen server giving them access to the infected computer. But every now and again, that connection gets disrupted, typically because it gets caught by anti-virus software, which blocks it from connecting it to the server. But more recently Glupteba has mutated, and now uses the Bitcoin blockchain to reconnect to the hackers’ server without anti-virus software noticing. According to TrendMicro, the hacker makes a Bitcoin transaction with a piece of encoded data hidden within one of its functions. Inside the encoded message contains the address for its server—giving the virus a new server location. All the virus has to do is scan the Bitcoin blockchain, identify the transaction and decode the hidden message. Then it can continue doing its evil deeds. While this isn’t the fault of the Bitcoin blockchain, it’s not the first time it has been used as a way of sharing secret, and frequently illegal information. View comments \|\| Malware uses Bitcoin blockchain to target victims: Cybersecurity firm TrendMicro has discovered a piece of malware that scans the Bitcoinblockchainfor secret instructions that allow the infected computer to be controlled remotely. Glupteba, firstdiscoveredin 2011 by WeLiveSecurity, is a piece of malware that can be used to hijack someone’s computer in order to steal information or be used to carry out denial of service attacks (where thousands of computers are used to put strain on a website or network causing it to crash). It’s also been used to mineMonero, according to TrendMicro. The bug hides inside adverts or links that unsuspecting users click on—a practice known as malvertising—and then downloads itself on to the user’s machine. Once there, it then connects to the hacker’s chosen server giving them access to the infected computer. But every now and again, that connection gets disrupted, typically because it gets caught by anti-virus software, which blocks it from connecting it to the server. But more recently Glupteba has mutated, and now uses theBitcoinblockchain to reconnect to the hackers’ server without anti-virus software noticing. According to TrendMicro, the hacker makes a Bitcoin transaction with a piece of encoded data hidden within one of its functions. Inside the encoded message contains the address for its server—giving the virus a new server location. All the virus has to do is scan the Bitcoin blockchain, identify the transaction and decode the hidden message. Then it can continue doing its evil deeds. While this isn’t the fault of the Bitcoin blockchain, it’s not the first time it has been used as a way of sharing secret, and frequentlyillegalinformation. \|\| Binance Labs leads $5.7 million Series A in Dapix to build interoperable blockchain tech: The interoperablecryptocurrencywallets at Dapix Inc. just got a little fatter. Dapix, the company behind theFoundation for Interwallet Operability(FIO) protocol, today announced that it has raised $5.7 million in Series A funding round led byBinance Labs, the venture arm of the world’s largest cryptocurrency exchange by volume. Other investors includeBlockwall Capital,NGC Ventures, andLuneX Ventures. The money will allow Dapix launch its FIO mainnet sooner than expected, now targeting Q1 2020, and build new products and features that will be available to FIO members, according to the company. The Foundation for Interwallet Operability now consists of 25 crypto wallet providers, exchanges and other crypto-focused ventures, Dapix CEO and cofounder David Gold toldDecrypt. “The FIO Protocol will be the industry standard usability layer for the entire blockchain ecosystem,” he said. Several notable companies within the crypto industry are alreadyFIO members, including Erik Voorhees’s crypto exchange ShapeShift, Roger Ver’s Bitcoin.com, Mycelium, MyCrypto, and Binance’s Trust Wallet. The idea is for the FIO protocol to improve “usability across every blockchain, token or coin” through a common decentralized layer that seeks to eliminate many of the risks associated with sending and receiving digital assets. For example, the protocol aims to enhance blockchain security by eliminating the need “for users to know or see” a public blockchain address, according to Gold. “It will enable critically needed decentralized payment requests as well as providing metadata such as a note, invoice or order cart along with every transaction on every other blockchain,” he said. Gold said he launched Dapix in mid-2018 after he realized that while crypto wallets have great potential, they are difficult and risky to use. Something needed to be done if digital wallets were to move beyond the limitations of their respective blockchains, he said. “I began to think about how to fix this in a way that would be fully decentralized and no less private than the underlying blockchains, and in a way that it could gain traction and support in the marketplace,” Gold said. “We began to put details into the idea and get input from knowledgeable people we trusted. Some of those people were executives who jumped on board to back what we were doing when it was just an idea in a documentoutlining the roadmap.” And while it may sound audacious, Gold believes that in a few years, no one will build a crypto-based product without FIO protocol integration. He points to the growing list of impressive FIO members as evidence, including the fact that many of them have already begun integrating the protocol “before mainnet is even launched,” he said. Despite the fact that Dapix, a VC-backed company, is currently responsible for building the FIO protocol, Gold insists that its a “community-driven project.” Said Gold: “The FIO Protocol will be open-sourced prior to mainnet when it is given to the community.” \|\| Binance Labs leads $5.7 million Series A in Dapix to build interoperable blockchain tech: The interoperable cryptocurrency wallets at Dapix Inc. just got a little fatter. Dapix, the company behind the Foundation for Interwallet Operability (FIO) protocol, today announced that it has raised $5.7 million in Series A funding round led by Binance Labs , the venture arm of the worlds largest cryptocurrency exchange by volume. Other investors include Blockwall Capital , NGC Ventures , and LuneX Ventures . The money will allow Dapix launch its FIO mainnet sooner than expected, now targeting Q1 2020, and build new products and features that will be available to FIO members, according to the company. The Foundation for Interwallet Operability now consists of 25 crypto wallet providers, exchanges and other crypto-focused ventures, Dapix CEO and cofounder David Gold told Decrypt . The FIO Protocol will be the industry standard usability layer for the entire blockchain ecosystem, he said. Several notable companies within the crypto industry are already FIO members , including Erik Voorheess crypto exchange ShapeShift, Roger Vers Bitcoin.com, Mycelium, MyCrypto, and Binances Trust Wallet. Who's worth watching from Binance Labs 13 new startups The idea is for the FIO protocol to improve usability across every blockchain, token or coin through a common decentralized layer that seeks to eliminate many of the risks associated with sending and receiving digital assets. For example, the protocol aims to enhance blockchain security by eliminating the need for users to know or see a public blockchain address, according to Gold. It will enable critically needed decentralized payment requests as well as providing metadata such as a note, invoice or order cart along with every transaction on every other blockchain, he said. Gold said he launched Dapix in mid-2018 after he realized that while crypto wallets have great potential, they are difficult and risky to use. Something needed to be done if digital wallets were to move beyond the limitations of their respective blockchains, he said. Story continues I began to think about how to fix this in a way that would be fully decentralized and no less private than the underlying blockchains, and in a way that it could gain traction and support in the marketplace, Gold said. We began to put details into the idea and get input from knowledgeable people we trusted. Some of those people were executives who jumped on board to back what we were doing when it was just an idea in a document outlining the roadmap . And while it may sound audacious, Gold believes that in a few years, no one will build a crypto-based product without FIO protocol integration. He points to the growing list of impressive FIO members as evidence, including the fact that many of them have already begun integrating the protocol before mainnet is even launched, he said. Despite the fact that Dapix, a VC-backed company, is currently responsible for building the FIO protocol, Gold insists that its a community-driven project. Said Gold: The FIO Protocol will be open-sourced prior to mainnet when it is given to the community. \|\| Catch This Compelling Copper Conundrum: This article was originally published on ETFTrends.com. The iPath Series B Bloomberg Copper Subindex Total Return ETN (NYSEArca: JJC) has recently posted some modest upside, rising about 2% over the past week, but the copper exchange traded note (ETN) remains more than 11% below its 52-week, prompting some market observers to deliver split views on the red metal. Some analysts are growing concerned that global troubles could drag down the industrial metal as well. Along with the trade concerns, copper prices were weakening on softening global economic data. The base metal is a significant component in many industries, including construction, and is widely seen as a barometer for global economic health. “Funds remain heavily short, betting that copper demand is set to worsen amid what is looking like a synchronized downturn in the global manufacturing sector,” according to Reuters . “The copper price is starting to buckle under the weight of speculative selling pressure but it’s not yet ready to collapse.” Earlier this month, copper hit a bottom-barrel two-year low as chaos was ensuing in equities. Due to copper’s widespread use, particularly when it comes to home building and commercial construction, it’s a good measuring stick of how well the economy is doing. Good news: sentiment toward the red metal is improving. Trade Turmoil Rises Copper has myriad industrial applications and any slowdown in demand from the industries that normally support copper demand could send prices tumbling. “Market sentiment was helped by the prospect of renewed trade talks between the United States and China but also by copper’s still robust internal supply-demand dynamics, not least China’s continued appetite for imported metal,” reports Reuters. Unfortunately, a recent spate of slack global economic data has bears piling into copper. Related: Finally, Some Good News For The Copper ETN “The latest Commitments of Traders Report showed funds holding outright short positions of 117,898 contracts as of last Tuesday, within touching distance of the all-time record of 118,448 contracts seen in the middle of last month,” notes Reuters. Story continues ETF investors sensing an opportunity in copper can also gain exposure to the metals and mining space through miner-related ETFs, such as the SPDR Metals & Mining ETF ( XME ) , which is designed to track the broad metals and mining segment, and the Global X Copper Miners ETF (NYSEARCA: COPX) , which takes a more focused approach to copper miners. For more market trends, visit ETF Trends . POPULAR ARTICLES AND RESOURCES FROM ETFTRENDS.COM SPY ETF Quote VOO ETF Quote QQQ ETF Quote VTI ETF Quote JNUG ETF Quote Top 34 Gold ETFs Top 34 Oil ETFs Top 57 Financials ETFs Heated Tobacco May Replace Vaping Amidst Consumer Issues VanEck And SolidX Take First Steps For Bitcoin-Related ETF Approvals Could Inverse ETFs Thrive In September? Social Media Stock SNAP Gets An Upgrade Gold, Precious Metals ETFs Surge on Geopolitical Uncertainty READ MORE AT ETFTRENDS.COM > [Social Media Buzz] #CT_index Provided by Cointelegraph BTC - https://t.co/k60UDUHgoG ETH - https://t.co/FKNUWqWt2t https://t.co/5ZeEcpRhFk $BTC $ETH $XRP $BNB \|\| Elizabeth Day: 'A bitchy boss taught me a valuable lesson' @Bitcoinincoins - @InvestCrypForex - DailyMail - Twitter - News - Noticias - Bitcoin - CryptoCurrency - Forex https://t.co/NCApr5zeBW \|\| Bitcoin Q&A: Currency wars and anti-encryption laws https://t.co/v8gWFeoKQd https://t.co/lJLsgLGDi5 \|\| #virwox bitcoin transfer https://t.co/l9EHgUchRF btc...	10410.13, 10360.55, 10358.05, 10347.71, 10276.79, 10241.27, 10198.25, 10266.42, 10181.64, 10019.72
Given the historical Bitcoin prices from the last 90 days, predict the next 10 daily closing prices. The historical prices are: 4382.88, 4382.66, 4579.02, 4565.30, 4703.39, 4892.01, 4578.77, 4582.96, 4236.31, 4376.53, 4597.12, 4599.88, 4228.75, 4226.06, 4122.94, 4161.27, 4130.81, 3882.59, 3154.95, 3637.52, 3625.04, 3582.88, 4065.20, 3924.97, 3905.95, 3631.04, 3630.70, 3792.40, 3682.84, 3926.07, 3892.35, 4200.67, 4174.73, 4163.07, 4338.71, 4403.74, 4409.32, 4317.48, 4229.36, 4328.41, 4370.81, 4426.89, 4610.48, 4772.02, 4781.99, 4826.48, 5446.91, 5647.21, 5831.79, 5678.19, 5725.59, 5605.51, 5590.69, 5708.52, 6011.45, 6031.60, 6008.42, 5930.32, 5526.64, 5750.80, 5904.83, 5780.90, 5753.09, 6153.85, 6130.53, 6468.40, 6767.31, 7078.50, 7207.76, 7379.95, 7407.41, 7022.76, 7144.38, 7459.69, 7143.58, 6618.14, 6357.60, 5950.07, 6559.49, 6635.75, 7315.54, 7871.69, 7708.99, 7790.15, 8036.49, 8200.64, 8071.26, 8253.55, 8038.77, 8253.69.	[Bitcoin Technical Analysis for 2017-11-24] Volume: 5058610176, RSI (14-day): 66.11, 50-day EMA: 6550.68, 200-day EMA: 4339.31 [Wider Market Context] Gold Price: 1286.70, Gold RSI: 52.68 Oil Price: 58.95, Oil RSI: 72.32 [Recent News (last 7 days)] Ethereum Price Hits New High as Billionaire Predicts 25% Surge In the Next Month: The Ethereum price broke $400 for only the second time in its history on Thursday, setting a new all time high early on Thanksgiving morning in the U.S. A rival cryptocurrency to Bitcoin, Ethereum rose as high as about $425 Thursday, a gain of more than 16% in a 24-hour period. Until then, the Ethereum price had for months hovered below its previous peak in June, when it had briefly surpassed$400 for the first time. The surge came as the billionaire cryptocurrency investor Mike Novogratz, a former hedge fund manager on Wall Street, reversed hisbearish predictionon Ethereum. In June, shortly after Ethereum first hit $400, Novogratz had sold much of the cryptocurrency he owned, saying “I think we may have put the highs in for the year in Ethereum, and you're going to slowly consolidate.” Novogratz’s call turned out to be prescient, and the Ethereum price did not revisit its earlier highs--that is, until this week, when the influential investor suddenly turned bullish again. “Just in the last few days Ethereum has started to move, and I actually think it’s going to put a new high soon,” Novogratz said in an interview onBloomberg TVTuesday. It took less than 48 hours for the Ethereum price to prove Novogratz right again. “I think we end the year at close to $500 in Ethereum,” he predicted, adding that the Bitcoin price, which reached as high as $8,300 this week, would hit $10,000 before 2017 comes to a close. “There’s a lot of positive things happening in the Ethereum ecosystem,” added Novogratz, who has recently begun raising money for his new cryptocurrency-focused hedge fund. The Ethereum price has already risen more than 50 times this year. To reach $500 before 2017 is out, Ethereum would need to rise another 25% from the $400 mark where it was trading early Thursday morning--all in a little more than a month. Fueling the rally isincreasing business interest in the Ethereum blockchain, which can be used to build applications with uses beyond digital currencies. Hewlett Packard Enterprise , for one, recently demonstrated an applicationusing the Ethereum protocol to power iRobot’s Roombavacuum cleaner. This article is part of Fortune's new initiative, The Ledger, a trusted news source at the intersection of tech and finance.Click herefor more on The Ledger. See original article on Fortune.com More from Fortune.com • Bitcoin and Ethereum Prices Take a Hit After Another Cryptocurrency Was Hacked • Whether They're Calling It A Fraud, Bubble Or World Changer, A Lot of Companies Are Talking About Cryptocurrency • Bitcoin Gets a Boost as Coinbase Lures Hedge Funds, $10 Million Minimum Deposit • Data Sheet--This Bitcoin Mining Technique Is Being Used in Malware • Ethereum's Frozen Funds, YouTube Kid Trauma, Backstage at Web Summit \|\| Ethereum Price Hits New High as Billionaire Predicts 25% Surge In the Next Month: The Ethereum price broke $400 for only the second time in its history on Thursday, setting a new all time high early on Thanksgiving morning in the U.S. A rival cryptocurrency to Bitcoin, Ethereum rose as high as about $425 Thursday, a gain of more than 16% in a 24-hour period. Until then, the Ethereum price had for months hovered below its previous peak in June, when it had briefly surpassed $400 for the first time. The surge came as the billionaire cryptocurrency investor Mike Novogratz, a former hedge fund manager on Wall Street, reversed his bearish prediction on Ethereum. In June, shortly after Ethereum first hit $400, Novogratz had sold much of the cryptocurrency he owned, saying I think we may have put the highs in for the year in Ethereum, and you're going to slowly consolidate. Novogratzs call turned out to be prescient, and the Ethereum price did not revisit its earlier highs--that is, until this week, when the influential investor suddenly turned bullish again. Just in the last few days Ethereum has started to move, and I actually think its going to put a new high soon, Novogratz said in an interview on Bloomberg TV Tuesday. It took less than 48 hours for the Ethereum price to prove Novogratz right again. I think we end the year at close to $500 in Ethereum, he predicted, adding that the Bitcoin price, which reached as high as $8,300 this week, would hit $10,000 before 2017 comes to a close. Theres a lot of positive things happening in the Ethereum ecosystem, added Novogratz, who has recently begun raising money for his new cryptocurrency-focused hedge fund. The Ethereum price has already risen more than 50 times this year. To reach $500 before 2017 is out, Ethereum would need to rise another 25% from the $400 mark where it was trading early Thursday morning--all in a little more than a month. Fueling the rally is increasing business interest in the Ethereum blockchain , which can be used to build applications with uses beyond digital currencies. Hewlett Packard Enterprise , for one, recently demonstrated an application using the Ethereum protocol to power iRobots Roomba vacuum cleaner. Story continues This article is part of Fortune's new initiative, The Ledger, a trusted news source at the intersection of tech and finance. Click here for more on The Ledger. See original article on Fortune.com More from Fortune.com Bitcoin and Ethereum Prices Take a Hit After Another Cryptocurrency Was Hacked Whether They're Calling It A Fraud, Bubble Or World Changer, A Lot of Companies Are Talking About Cryptocurrency Bitcoin Gets a Boost as Coinbase Lures Hedge Funds, $10 Million Minimum Deposit Data Sheet--This Bitcoin Mining Technique Is Being Used in Malware Ethereum's Frozen Funds, YouTube Kid Trauma, Backstage at Web Summit \|\| Ethereum Price Hits New High as Billionaire Predicts 25% Surge In the Next Month: The Ethereum price broke $400 for only the second time in its history on Thursday, setting a new all time high early on Thanksgiving morning in the U.S. A rival cryptocurrency to Bitcoin, Ethereum rose as high as about $425 Thursday, a gain of more than 16% in a 24-hour period. Until then, the Ethereum price had for months hovered below its previous peak in June, when it had briefly surpassed$400 for the first time. The surge came as the billionaire cryptocurrency investor Mike Novogratz, a former hedge fund manager on Wall Street, reversed hisbearish predictionon Ethereum. In June, shortly after Ethereum first hit $400, Novogratz had sold much of the cryptocurrency he owned, saying “I think we may have put the highs in for the year in Ethereum, and you’re going to slowly consolidate.” Novogratz’s call turned out to be prescient, and the Ethereum price did not revisit its earlier highs—that is, until this week, when the influential investor suddenly turned bullish again. “Just in the last few days Ethereum has started to move, and I actually think it’s going to put a new high soon,” Novogratz said in an interview onBloomberg TVTuesday. It took less than 48 hours for the Ethereum price to prove Novogratz right again. “I think we end the year at close to $500 in Ethereum,” he predicted, adding that the Bitcoin price, which reached as high as $8,300 this week, would hit $10,000 before 2017 comes to a close. “There’s a lot of positive things happening in the Ethereum ecosystem,” added Novogratz, who has recently begun raising money for his new cryptocurrency-focused hedge fund. The Ethereum price has already risen more than 50 times this year. To reach $500 before 2017 is out, Ethereum would need to rise another 25% from the $400 mark where it was trading early Thursday morning—all in a little more than a month. Fueling the rally isincreasing business interest in the Ethereum blockchain, which can be used to build applications with uses beyond digital currencies. Hewlett Packard Enterprisehpe, for one, recently demonstrated an applicationusing the Ethereum protocol to power iRobot’s Roombavacuum cleaner. This article is part of Fortune’s new initiative, The Ledger, a trusted news source at the intersection of tech and finance.Click herefor more on The Ledger. \|\| Ethereum Price Hits New High as Billionaire Predicts 25% Surge In the Next Month: The Ethereum price broke $400 for only the second time in its history on Thursday, setting a new all time high early on Thanksgiving morning in the U.S. A rival cryptocurrency to Bitcoin, Ethereum rose as high as about $425 Thursday, a gain of more than 16% in a 24-hour period. Until then, the Ethereum price had for months hovered below its previous peak in June, when it had briefly surpassed $400 for the first time. The surge came as the billionaire cryptocurrency investor Mike Novogratz, a former hedge fund manager on Wall Street, reversed his bearish prediction on Ethereum. In June, shortly after Ethereum first hit $400, Novogratz had sold much of the cryptocurrency he owned, saying I think we may have put the highs in for the year in Ethereum, and youre going to slowly consolidate. Novogratzs call turned out to be prescient, and the Ethereum price did not revisit its earlier highsthat is, until this week, when the influential investor suddenly turned bullish again. Just in the last few days Ethereum has started to move, and I actually think its going to put a new high soon, Novogratz said in an interview on Bloomberg TV Tuesday. It took less than 48 hours for the Ethereum price to prove Novogratz right again. I think we end the year at close to $500 in Ethereum, he predicted, adding that the Bitcoin price, which reached as high as $8,300 this week, would hit $10,000 before 2017 comes to a close. Theres a lot of positive things happening in the Ethereum ecosystem, added Novogratz, who has recently begun raising money for his new cryptocurrency-focused hedge fund. The Ethereum price has already risen more than 50 times this year. To reach $500 before 2017 is out, Ethereum would need to rise another 25% from the $400 mark where it was trading early Thursday morningall in a little more than a month. Fueling the rally is increasing business interest in the Ethereum blockchain , which can be used to build applications with uses beyond digital currencies. Hewlett Packard Enterprise hpe , for one, recently demonstrated an application using the Ethereum protocol to power iRobots Roomba vacuum cleaner. This article is part of Fortunes new initiative, The Ledger, a trusted news source at the intersection of tech and finance. Click here for more on The Ledger. \|\| Signals Marketplace for Crypto Trading Strategies Launches a Token Presale: Signals Network Provides Sophisticated Machine Learning Algorithms to Help Cryptotraders Build Their Investment Strategies PRAGUE, CZECH REPUBLIC / ACCESSWIRE / November 23, 2017 / Crypto trading strategies are about to become a lot smarter. Signals ( https://signals.network ), a Prague-based startup, is building a platform to connect traders with data scientists. Signals will have an interface where traders will be able to assemble machine learning-powered trading strategy with a few clicks. Signals is going to offer sophisticated machine learning algorithms to anyone, and its team wants to achieve that by building a network open to cryptotraders and data science developers. Soon traders will be able to build strategies from specific trading indicators, ranging from technical analysis to crowd wisdom insights, train it on historical data, and monetize strategies by offering it for copytrading. Here's how it's going to work . To process extreme amounts of data and complex algorithmic computations within a short time, the Signals company has just partnered with iExec , a French company specializing in blockchain-based cloud computing. The alpha version of Signals should be released before the end of 2017 to the public, and it will include a Strategy Marketplace. All paid features of the Signals platform like purchasing indicators, data sets, or leasing a strategy for copytrading - will be available for users via a custom currency called Signals Token (SGN). After every payment made in the Signals Platform, a small amount of the currency will be burned, making SGN token effectively a deflationary currency. As the usage of SGN will increase, its supply will slowly shrink, making it more valuable. Signals is offering purchasing the SGN token for Ethereum cryptocurrency in Signals Token Presale , which started on Wednesday, November 22, 2017, at 14:00 UTC. The price of one token unit will start at approximately 0.26 USD, which will be set in Ethereum on the day of the token sale start. Before buying the SGN tokens, one needs to register with a name, email and an ETH wallet address. Story continues Website: https://signals.network White paper: https://cdn.signals.network/docs/Signals-Whitepaper.pdf Bitcointalk: https://bitcointalk.org/index.php?topic=2207141.0 YouTube: https://www.youtube.com/watch?v=KY2qu0zpq-Q Blog: https://blog.signals.network Media Contact Contact Name: Pavel Nemec Email: [email protected] SOURCE: Signals \|\| Signals Marketplace for Crypto Trading Strategies Launches a Token Presale: Signals Network Provides Sophisticated Machine Learning Algorithms to Help Cryptotraders Build Their Investment Strategies PRAGUE, CZECH REPUBLIC / ACCESSWIRE / November 23, 2017 /Crypto trading strategies are about to become a lot smarter. Signals (https://signals.network), a Prague-based startup, is building a platform to connect traders with data scientists. Signals will have an interface where traders will be able to assemble machine learning-powered trading strategy with a few clicks. Signals is going to offer sophisticated machine learning algorithms to anyone, and its team wants to achieve that by building a network open to cryptotraders and data science developers. Soon traders will be able to build strategies from specific trading indicators, ranging from technical analysis to crowd wisdom insights, train it on historical data, and monetize strategies by offering it for copytrading.Here's how it's going to work. To process extreme amounts of data and complex algorithmic computations within a short time, the Signals company has just partnered withiExec, a French company specializing in blockchain-based cloud computing. The alpha version of Signals should be released before the end of 2017 to the public, and it will include a Strategy Marketplace. All paid features of the Signals platform – like purchasing indicators, data sets, or leasing a strategy for copytrading - will be available for users via a custom currency called Signals Token (SGN). After every payment made in the Signals Platform, a small amount of the currency will be burned, making SGN token effectively a deflationary currency. As the usage of SGN will increase, its supply will slowly shrink, making it more valuable. Signals is offering purchasing the SGN token for Ethereum cryptocurrency inSignals Token Presale, which started on Wednesday, November 22, 2017, at 14:00 UTC. The price of one token unit will start at approximately 0.26 USD, which will be set in Ethereum on the day of the token sale start. Before buying the SGN tokens, one needs to register with a name, email and an ETH wallet address. Website:https://signals.networkWhite paper:https://cdn.signals.network/docs/Signals-Whitepaper.pdfBitcointalk:https://bitcointalk.org/index.php?topic=2207141.0YouTube:https://www.youtube.com/watch?v=KY2qu0zpq-QBlog:https://blog.signals.network Media ContactContact Name:Pavel NemecEmail:[email protected] SOURCE:Signals \|\| Feel the Financial Freedom with Bonpay Crypto Card: LONDON, ENGLAND / ACCESSWIRE / November 23, 2017 / Have some crypto, but don't know how to spend it because most shops accept only fiat? That's not a problem any more - crypto cards are the solution. You load it with Bitcoin or any other altcoin and then use it everywhere just like a usual plastic card. It instantly converts the necessary amount from your crypto to fiat, making the use of digital currency as easy as traditional money. One of the leading services that offer cryptocurrency cards is Bonpay , that due to extreme convenience and simplicity, has gained popularity among users of cryptocurrency with lightning speed - more than 2,000 clients already enjoy shopping with Bonpay crypto card, while 5,000 more cards have been ordered. Bonpay is currently holding a Token Sale, during which more than $7,000,000 already has been raised. It offers 51% of all tokens to the public now and 34% during the next few years to exclude possibility of control or manipulations from founders or partners. BON tokens will be available on Cryptopia, Livecoin and YoBit exchanges in the next few weeks. The company is in the process of negotiating with eight more large exchanges . For more about how to participate in Bonpay Token Sale and bonuses for Black Friday, read below. Although currently Bonpay crypto cards are available only for EU countries, the company is working on partnerships with three large card-issuers, so in the nearest future more and more people from different countries will experience all convenience of spending digital currency quickly and simply. Team and advisors - keys to success The young company successfully entered the market just a few months ago, but almost immediately became a leader. And it is not surprising – Bonpay was created by a team of experts with more than 50 years of collective experience in cryptocurrency systems, the banking industry and financial instruments, who truly believe in the future of digital currencies and blockchain technology and want to make its usage easy, convenient and secure for everyone. Due to deep knowledge of the market, the Bonpay team understands how to make cryptocurrency usage safe and convenient for people everywhere. Bonpay was created to bridge the gap between crypto and the real world, giving financial freedom to people. Story continues The company has a team of professional advisors with unique specialties and skillsets, whose support and guidance helps to provide best services and expertise for clients. One of the advisors is Viktor Chkan, who is an expert on payment processing issues and data security, and has unique experience in financial projects, blockchain and cryptocurrency ventures. Velin Vlasev, specialist in launching e-financial services in Europe and USA, also became the company's advisor to help in providing the best card issuing services for Bonpay clients. As Bonpay plans to expand its service, in order to fully understand the needs of other markets, Eddy Susanto, co-founder of FasaPay, who is an Asian market specialist and has a deep experience in payment gateways and electronic money transfers, joined the team. Dmitry Grushetsky, CEO of JustForex, a fintech and banking expert with 14 years of experience in financial technologies, helps service in improving liquidity to guarantee stable and secure service for clients. Token Sale - participate right now! Currently Bonpay has a Token Sale that will last until November 28. During the Token Sale, Bonpay has a unique offer - all participants who buy tokens for more than 10 ETH get their cryptocurrency cards absolutely free ! But, even if you send less, you will receive a 0.65% incentive reward and 0.15% cashback bonus , that are offered for all participants of Token Sale and card holders. Those who send more than 20 ETH, will receive an exclusive 20% bonus (around $1500 for every 20 ETH - the more you buy, the more of a reward you get!), special Black Card with lower fees and higher limits and other pleasant benefits. You don't have to send 20 ETH at once - the total amount from one wallet counts. You can learn more on the Token Sale page. There is another way to get this exclusive card - participate in the Bonpay art contest . You have a unique chance to express yourself and receive it for free - offer your design for the card, win the contest and get a Black Card! Also, Bonpay has an exclusive offer for the upcoming Black Friday and Cyber Monday! All participants, who buy tokens from November 24, 12:00 (GMT) to November, 28 14:00 (GMT) will get an additional bonus up to 50% . In addition, only during this time can you get rewards for encouraging your friends to participate - for every friend who joins the Bonpay Token Sale, you will receive 10% from purchased tokens. For more details, please contact our support team on our website . Although there is not much time left, you can still participate in the Bounty Program of the Bonpay Token Sale - you can get rewards for writing articles or making a video about Bonpay (up to 1250 BON). More details about the Bounty program can be found here . Remember, that there is only one week left - don't lose your chance to participate in Bonpay Token Sale ! Website: https://bonpay.com White paper: https://bonpay.com/whitepaper Bitcointalk: https://bitcointalk.org/index.php?topic=2375768 YouTube: https://www.youtube.com/channel/UC1djveSDMrExFMgl-XIM8tA Telegram: https://t.me/bonpay_eng Media Contact Contact Name: David Email: [email protected] Bonpay is the source of this content. Virtual currency is not legal tender, is not backed by the government, and accounts and value balances are not subject to consumer protections. This press release is for informational purposes only. The information does not constitute investment advice or an offer to invest. SOURCE: Bonpay \|\| Feel the Financial Freedom with Bonpay Crypto Card: LONDON, ENGLAND / ACCESSWIRE / November 23, 2017 /Have some crypto, but don't know how to spend it because most shops accept only fiat? That's not a problem any more - crypto cards are the solution. You load it with Bitcoin or any other altcoin and then use it everywhere just like a usual plastic card. It instantly converts the necessary amount from your crypto to fiat, making the use of digital currency as easy as traditional money. One of the leading services that offer cryptocurrency cards isBonpay, that due to extreme convenience and simplicity, has gained popularity among users of cryptocurrency with lightning speed - more than 2,000 clients already enjoy shopping with Bonpay crypto card, while 5,000 more cards have been ordered. Bonpay is currently holding a Token Sale, during which more than $7,000,000 already has been raised. It offers 51% of all tokens to the public now and 34% during the next few years to exclude possibility of control or manipulations from founders or partners. BON tokens will be available on Cryptopia, Livecoin and YoBit exchanges in the next few weeks. The company is in the process of negotiating witheight more large exchanges. For more about how to participate in Bonpay Token Sale and bonuses for Black Friday, read below. Although currently Bonpay crypto cards are available only for EU countries, the company is working on partnerships with three large card-issuers, so in the nearest future more and more people from different countries will experience all convenience of spending digital currency quickly and simply. Team and advisors - keys to success The young company successfully entered the market just a few months ago, but almost immediately became a leader. And it is not surprising – Bonpay was created by a team of experts with more than 50 years of collective experience in cryptocurrency systems, the banking industry and financial instruments, who truly believe in the future of digital currencies and blockchain technology and want to make its usage easy, convenient and secure for everyone. Due to deep knowledge of the market, the Bonpay team understands how to make cryptocurrency usage safe and convenient for people everywhere. Bonpay was created to bridge the gap between crypto and the real world, giving financial freedom to people. The company has a team of professional advisors with unique specialties and skillsets, whose support and guidance helps to provide best services and expertise for clients. One of the advisors is Viktor Chkan, who is an expert on payment processing issues and data security, and has unique experience in financial projects, blockchain and cryptocurrency ventures. Velin Vlasev, specialist in launching e-financial services in Europe and USA, also became the company's advisor to help in providing the best card issuing services for Bonpay clients. As Bonpay plans to expand its service, in order to fully understand the needs of other markets, Eddy Susanto, co-founder of FasaPay, who is an Asian market specialist and has a deep experience in payment gateways and electronic money transfers, joined the team. Dmitry Grushetsky, CEO of JustForex, a fintech and banking expert with 14 years of experience in financial technologies, helps service in improving liquidity to guarantee stable and secure service for clients. Token Sale - participate right now! Currently Bonpay has a Token Sale that will last until November 28. During the Token Sale, Bonpay has a unique offer - all participants who buy tokens for more than 10 ETH get their cryptocurrency cardsabsolutely free! But, even if you send less, you will receive a0.65% incentive rewardand0.15% cashback bonus, that are offered for all participants of Token Sale and card holders. Those who send more than 20 ETH, will receive anexclusive 20% bonus(around $1500 for every 20 ETH - the more you buy, the more of a reward you get!),special Black Cardwith lower fees and higher limits and other pleasant benefits. You don't have to send 20 ETH at once - the total amount from one wallet counts. You can learn more on theToken Salepage. There is another way to get this exclusive card - participate in the Bonpayart contest. You have a unique chance to express yourself and receive it for free - offer your design for the card, win the contest and get a Black Card! Also, Bonpay has anexclusive offerfor the upcomingBlack Friday and Cyber Monday!All participants, who buy tokens from November 24, 12:00 (GMT) to November, 28 14:00 (GMT) will get anadditional bonus up to 50%. In addition, only during this time can you get rewards for encouraging your friends to participate - for every friend who joins the Bonpay Token Sale, you will receive 10% from purchased tokens. For more details, please contact our support team on ourwebsite. Although there is not much time left, you can still participate in the Bounty Program of the Bonpay Token Sale - you can get rewards for writing articles or making a video about Bonpay (up to 1250 BON). More details about the Bounty program can be foundhere. Remember, that there is only one week left - don't lose your chance toparticipate in Bonpay Token Sale! Website:https://bonpay.comWhite paper:https://bonpay.com/whitepaperBitcointalk:https://bitcointalk.org/index.php?topic=2375768YouTube:https://www.youtube.com/channel/UC1djveSDMrExFMgl-XIM8tATelegram:https://t.me/bonpay_eng Media ContactContact Name:DavidEmail:[email protected] Bonpay is the source of this content. Virtual currency is not legal tender, is not backed by the government, and accounts and value balances are not subject to consumer protections. This press release is for informational purposes only. The information does not constitute investment advice or an offer to invest. SOURCE:Bonpay \|\| $413: Ether Prices Within a Whisker of All-Time High: Update: Ether hit a new all-time price high of $414.90 at around 15:48 UTC today. The price of ether, ethereum's native token, is closing in on record highs above $400. Soon before press time, the world's second largest cryptocurrency by market capitalization had hit $413 – a whisker short of ether's all-time high of just over $414 set in mid-June. As per CoinMarketCap , the ether-U.S. dollar (ETH/USD) exchange rate has appreciated by 12.61 percent in the last 24 hours. Week-on-week, ETH is up 24 percent, while on a monthly basis, it is up 43.33 percent. As detailed in CoinDesk's previous update , it looks as though ETH is still celebrating reports of upcoming access to its own regulated derivatives market. Meanwhile, comments on social media indicate investors are busy assessing the impact of the surge in transaction volume in the last 24 hours. Ethereum is reportedly processing more transactions a day than all other cryptocurrencies combined. And, of course, it can't be hurting that billionaire Mike Novogratz commented yesterday that ether could hit $500 by the end of the year. Cat image via Shutterstock Related Stories Getting Started? Ether Sets New High Above $500 Wallet Demo Showcases Lightning-Like Network for Ethereum Overstretched? Bitcoin Price on Shaky Ground After 1,000% Gains It's Official: Bitcoin's Price Makes History Passing $10k \|\| $413: Ether Prices Within a Whisker of All-Time High: Update: Ether hit a new all-time price high of $414.90 at around 15:48 UTC today. The price of ether, ethereum's native token, is closing in on record highs above $400. Soon before press time, the world's second largest cryptocurrency by market capitalization had hit $413 – a whisker short of ether's all-time high of just over $414 set in mid-June. As per CoinMarketCap , the ether-U.S. dollar (ETH/USD) exchange rate has appreciated by 12.61 percent in the last 24 hours. Week-on-week, ETH is up 24 percent, while on a monthly basis, it is up 43.33 percent. As detailed in CoinDesk's previous update , it looks as though ETH is still celebrating reports of upcoming access to its own regulated derivatives market. Meanwhile, comments on social media indicate investors are busy assessing the impact of the surge in transaction volume in the last 24 hours. Ethereum is reportedly processing more transactions a day than all other cryptocurrencies combined. And, of course, it can't be hurting that billionaire Mike Novogratz commented yesterday that ether could hit $500 by the end of the year. Cat image via Shutterstock Related Stories Getting Started? Ether Sets New High Above $500 Wallet Demo Showcases Lightning-Like Network for Ethereum Overstretched? Bitcoin Price on Shaky Ground After 1,000% Gains It's Official: Bitcoin's Price Makes History Passing $10k \|\| In Israel, a blockchain and crypto hyper-cluster is just getting started: In recent times, its Eastern Europe and Russia which have become a hot-bed of crytpocurrency development. But on a recent trip to Tel Aviv, Israel, I took part in what might well turn out to be a historic lunch. The lunch took place just after well-known tech investor Moshe Hogeg announced he would invest in every Israeli blockchain that approached him. That investor group, called Alignment, consisted of the Singulariteam Technology Group, together with CoinTree Capital, and BlockchainIL. Held at Alignment's new blockchain Hub in Tel Aviv, we got to hear from an array of new companies. Dubbed by many as Startup Nation, Tel Aviv has begun to produce a new breed of tech giants, but its now turning its hand to blockchain and crypto companies. In recent months, my mailbox has become inundated with pitches from companies claiming to be the next blockchain phenomenon, with plans to revolutionize the finance world, healthcare landscape, travel industry, you name it. The problem is, which one, if any, can deliver? However, after getting deep into the subject with the companies I met, I realized many were at least on to something. Whether they would survive or not Heres a run-down of who I met with: Erachain The idea of a blockchain network that works for the average person still seems far off. But Erachain wants to address that. Russian programmer Dmitrii Ermolaev, co-founder and CEO has grown it from a small operation to a distributed organization. Erachain is a decentralized blockchain platform that has incorporated European and World-Wide AML laws, potentially eliminating the need for traditional banks. It ties all coins with physical assets, reduces the cost of normal crypto transactions, and claims to eliminate anonymous transactions by verifying all users upon registration. Its been 4 years in development and is all about creating a Proof of Stake system where verified accounts are used as nodes. The use cases are enterprise and government, where using these technologies is often a huge barrier to entry. Right now its about document management and digital signatures. In the future, most applications of large-scale are going to require some kind of verification platform. Zen Protocol This team has been involved in the Bitcoin space since 2011. After the DAO hack, founder Adam Perlow wanted to focus on making Bitcoin better, more usable and useful. He has spent the last year creating Zen Protocol, leveraging the blockchain technology and the popularity of Bitcoin to try to decentralize the financial system by building a new protocol purpose-built for finance. Zens pitch is that it allows anyone to create financial transactions, at any time, anywhere in the world using Bitcoin. Zen is designed to be open, frictionless, transparent, and completely decentralized across a Proof-of-Work Blockchain. Zen Core is implemented in the .Net stack and uses the F* functional programming language, built by Microsoft Research, to power contracts. Story continues Perlow says: Today its very hard to enforce agreements. You put funds with the exchange and enter an agreement with a broker. But on the blockchain you dont need a trusted 3rd party. Banks have huge control and too much control over our lives. Zen wants to bring the entire financial world onto the blockchain, connecting digital and crypto assets with fiat stocks and commodities. If we had a mechanism by which to enforce contractual obligations you wouldn't need this trusted third-party," he says. COTI Its global world and commerce is global but it doesnt tap into the full potential because of trust. Trust is centralized and held by banks, Visa etc. These are centralized, high on fees and the approval rate is not good for rest of the world outside of the G10. Meanwhile, Ethereurm and ripple not designed for payments. So the solution is a system built from the ground up to be payment mechanism which is instant, zero fees, reversible, and has anti-fraud mechanisms. Founder Nir Gazit says: Bitcoin is not good for stuff, its not reversible, theres no mediation. So they are building a full stack, an exchange, a wallet, a credit card. COTI aims to make the global economy truly global by providing instant, scalable, and secure transactions using the COTIcoin. COTI, which appropriately stands for Currency of the Internet, is aimed at incentivizing honest conduct between sellers and buyers by creating a unique behavior scoring feature on the Bitcoin sidechain. Users who achieve an honest score, meaning those vendors who ship products on time, or buyers who pay when theyre supposed to, are rewarded. The system lets both buyers and sellers see the score of another user before he or she chooses to interact with them. COTI aims to reduce high checkout abandonment rates and eliminate uncertainty while shopping online. There are currently over 1,000 digital currencies operating on a decentralized basis, however, none can provide the services leading centralized payment providers can. By combining a centralized mediation process and a decentralized payment process, COTI says it has created a technological solution for the consumer payments sector. Jelurida Jelurida is the development company behind Nxt and Ardor blockchain platforms. It creates customized commercial versions of these platforms while continuously supporting and maintaining the decentralized public Nxt blockchain. With the upcoming Ardor platform, Jelurida will be creating custom child chains for its clients and partners as well. Whereas many blockchain companies are still in the fundraising stage, Nxt is fully operational and trading with a market cap of over a hundred million dollars. The company, which has in the past offered functions specifically designed for crypto developers, is turning its focus to use cases which have to do with everyday life, from introducing new voting mechanisms to offering transparent international bank transfers that consumers can enjoy. Ardor is the newest blockchain platform Jelurida has been working on, and functions as sort of a Nxt 2.0. Ardor features a unique parent-child chain structure, which helps combat blockchain bloat. Investor Moshe Hogeg has created the Alignment investment vehicle to invested purely in Israeli blockchain and crypto startups. CrowdWiz CrowdWiz, which is a fully decentralized crypto investment platform that lets users ditch third-party fund managers, recently began its ICO on November 20th. The company has already raised over $5 million in a public pre-sale, and plans to use the money to develop their investment platform. CrowdWiz relies on the so-called wisdom of the crowd to make funding decisions. The CEO Slavena Savcheva claims that a collective entity makes a better decision as a whole than the most intelligent person in the group alone. CrowdWiz allows the crowd, not fund managers, banks or middlemen, to decide on how the general fund is spent. Users of CrowdWiz will use the companys cryptocurrency, the OPX token, to vote on which asset they want funds to go to. The platform then distributes based on the majority opinion of the crowd. CrowdWiz solves some of the issues associated with traditional funds today, such as high entrance costs and large fees. Savcheva wants to make the trading process fun, easy, and completely transparent using the wisdom of the crowd to decide where the money goes. Prior to founding CrowdWiz, Savcheva was the Business Development Manager for TRADOLOGIC, one of the worlds leading FinTech software providers, where she operated and steered the firms business in Asian markets. Orbs Orbs sits under Cointree and is based on the Spector paper written by Hebrew university researchers. It takes the blockchain and turns it into a DAG, another database structure, so it can then process many more blocks in a second. The idea is that it puts the bottleneck at the communication layer not the not the consensus layer. Since the more forks in a blockchain the less secure and slower it become, Orbs claims to be able to process a transaction at whatever speed the network is. Alignment Alignment came about because the VC firm Singulariteam partnered with two local Israeli firms, Blockchain IL and CoinTree Capital, to form a sort of blockchain and ICO consultancy which they dubbed "Alignment." The company aims to groom and support the next blockchain unicorn coming out of Israel. The company consults, develops and funds Blockchain early-stage projects and existing companies, from inception through ICO, and later. Startups will need to pay for the privilege, of course. Its listed clients to date include Bancor, messaging app Kik, and Stox. Of those, Bancor conducted a $153 million ICO, while Kik raised $98 million in its token sale earlier this year. Since many people are skeptical of ICOs at the moment (especially in light of the Tezos controversy), Alignment supports blockchain companies, in a climate that's at best lukewarm towards ICOs. Moshe Hogeg, VC, Founder & Chairman of the Singulariteam, pledged Alignment would invest, without exception, in every Israeli blockchain company in 2017." Bancor If youve been following the blockchain revolution, youve probably heard about Bancor. This company made history when it held one of the most successful ICOs (at the time it was a world record), raising over $153 million from over 10,000 participants in less than three hours. Bancor has created a market maker application that aims to facilitate trading with other digital coins. The Bancor protocol enables built-in price-discovery and a liquidity mechanism for tokens on smart contract blockchains. Bancors claims it allows anyone to create their own cryptocurrency and operate it independent of a third-party exchange. The Bancor Protocol allows for the creation of thousands of cryptocurrencies on the Ethereum blockchain, creating a interconnected asset exchange ecosystem which unlocks the long tail of user-generated tokens. Smart tokens are designed with additional functionality such as delegated account recovery and vaults to address security issues. The aim of these features is to make cryptocurrencies more accessible and to encourage mass adoption. Stox You may have heard the news about Stoxs ethereum based prediction market platform when Floyd Mayweather boasted he would make a $hit t$n of money on the Stox.com ICO. Following Mayweathers bullish words, Stox raised $33 million in an ICO last August. Stox claims users can predict and trade the outcome of events in almost any imaginable category: Finance, sports, politics and even the weather, as they might in a traditional stock market. Unlike a lot of crypto companies which tailor their services to blockchain experts, the Stox platform is designed to accommodate, and be intuitive for mainstream audiences. As you can see, Israel, and specifically Tel Aviv, is creating a huge force in this new world. If they play their cards right, they could well start to rival the co-called Crypto Valley in Switzerland. View comments \|\| In Israel, a blockchain and crypto hyper-cluster is just getting started: In recent times, it’s Eastern Europe and Russia which have become a hot-bed of crytpocurrency development. But on a recent trip to Tel Aviv, Israel, I took part in what might well turn out to be a historic lunch. The lunch took place just after well-known tech investor Moshe Hogeg announced he would invest in every Israeli blockchain that approached him. That investor group, called Alignment, consisted of the Singulariteam Technology Group, together with CoinTree Capital, and BlockchainIL. Held at Alignment's new blockchain Hub in Tel Aviv, we got to hear from an array of new companies. Dubbed by many as “Startup Nation”, Tel Aviv has begun to produce a new breed of tech giants, but it’s now turning its hand to blockchain and crypto companies. In recent months, my mailbox has become inundated with pitches from companies claiming to be the next blockchain phenomenon, with plans to revolutionize the finance world, healthcare landscape, travel industry, you name it. The problem is, which one, if any, can deliver? However, after getting deep into the subject with the companies I met, I realized many were at least ‘on to something’. Whether they would survive or not… Here’s a run-down of who I met with: The idea of a blockchain network that works for the average person still seems far off. But Erachain wants to address that. Russian programmer Dmitrii Ermolaev, co-founder and CEO has grown it from a small operation to a distributed organization. Erachain is a decentralized blockchain platform that has incorporated European and World-Wide AML laws, potentially eliminating the need for traditional banks. It ties all coins with physical assets, reduces the cost of normal crypto transactions, and claims to eliminate anonymous transactions by verifying all users upon registration. It’s been 4 years in development and is all about creating a Proof of Stake system where verified accounts are used as nodes. The use cases are enterprise and government, where using these technologies is often a huge barrier to entry. Right now it’s about document management and digital signatures. In the future, most applications of large-scale are going to require some kind of verification platform. This team has been involved in the Bitcoin space since 2011. After the DAO hack, founder Adam Perlow wanted to focus on making Bitcoin better, more usable and useful. He has spent the last year creating Zen Protocol, leveraging the blockchain technology and the popularity of Bitcoin to try to decentralize the financial system by building a new protocol purpose-built for finance. Zen’s pitch is that it allows anyone to create financial transactions, at any time, anywhere in the world using Bitcoin. Zen is designed to be open, frictionless, transparent, and completely decentralized across a Proof-of-Work Blockchain. Zen Core is implemented in the .Net stack and uses the F* functional programming language, built by Microsoft Research, to power contracts. Perlow says: “Today it’s very hard to enforce agreements. You put funds with the exchange and enter an agreement with a broker. But on the blockchain you don’t need a trusted 3rd party. Banks have huge control and too much control over our lives.” Zen wants to bring the entire financial world onto the blockchain, connecting digital and crypto assets with fiat stocks and commodities. “If we had a mechanism by which to enforce contractual obligations you wouldn't need this trusted third-party," he says. Its global world and commerce is global but it doesn’t tap into the full potential because of trust. Trust is centralized and held by banks, Visa etc. These are centralized, high on fees and the approval rate is not good for rest of the world outside of the G10. Meanwhile, Ethereurm and ripple not designed for payments. So the solution is a system built from the ground up to be payment mechanism which is instant, zero fees, reversible, and has anti-fraud mechanisms. Founder Nir Gazit says: “Bitcoin is not good for stuff, it’s not reversible, there’s no mediation.” So they are building a full stack, an exchange, a wallet, a credit card. COTI aims to make the global economy truly global by providing instant, scalable, and secure transactions using the COTIcoin. COTI, which appropriately stands for Currency of the Internet, is aimed at incentivizing honest conduct between sellers and buyers by creating a ‘unique behavior scoring’ feature on the Bitcoin sidechain. Users who achieve an “honest” score, meaning those vendors who ship products on time, or buyers who pay when they’re supposed to, are rewarded. The system lets both buyers and sellers see the score of another user before he or she chooses to interact with them. COTI aims to reduce high checkout abandonment rates and eliminate uncertainty while shopping online. There are currently over 1,000 digital currencies operating on a decentralized basis, however, none can provide the services leading centralized payment providers can. By combining a centralized mediation process and a decentralized payment process, COTI says it has created a technological solution for the consumer payments sector. Jelurida is the development company behindNxtandArdorblockchain platforms. It creates customized commercial versions of these platforms while continuously supporting and maintaining the decentralized public Nxt blockchain. With the upcoming Ardor platform, Jelurida will be creating custom child chains for its clients and partners as well. Whereas many blockchain companies are still in the fundraising stage, Nxt is fully operational and trading with a market cap of over a hundred million dollars. The company, which has in the past offered functions specifically designed for crypto developers, is turning its focus to use cases which have to do with everyday life, from introducing new voting mechanisms to offering transparent international bank transfers that consumers can enjoy. Ardor is the newest blockchain platform Jelurida has been working on, and functions as sort of a Nxt 2.0. Ardor features a unique parent-child chain structure, which helps combat blockchain bloat. Investor Moshe Hogeg has created the Alignment investment vehicle to invested purely in Israeli blockchain and crypto startups. CrowdWiz, which is a fully decentralized crypto investment platform that lets users ditch third-party fund managers, recently began its ICO on November 20th. The company has already raised over $5 million in a public pre-sale, and plans to use the money to develop their investment platform. CrowdWiz relies on the so-called ‘wisdom of the crowd’ to make funding decisions. TheCEO Slavena Savchevaclaims that a collective entity makes a better decision as a whole than the most intelligent person in the group alone. CrowdWiz allows the crowd, not fund managers, banks or middlemen, to decide on how the general fund is spent. Users of CrowdWiz will use the company’s cryptocurrency, the OPX token, to vote on which asset they want funds to go to. The platform then distributes based on the majority opinion of the crowd. CrowdWiz solves some of the issues associated with traditional funds today, such as high entrance costs and large fees. Savcheva wants to make the trading process fun, easy, and completely transparent using the wisdom of the crowd to decide where the money goes. Prior to founding CrowdWiz, Savcheva was the Business Development Manager for TRADOLOGIC, one of the world’s leading FinTech software providers, where she operated and steered the firm’s business in Asian markets. Orbs sits underCointreeand is based on the “Spector” paper written by Hebrew university researchers. It takes the blockchain and turns it into a DAG, another database structure, so it can then process many more blocks in a second. The idea is that it puts the bottleneck at the communication layer not the not the consensus layer. Since the more forks in a blockchain the less secure and slower it become, Orbs claims to be able to process a transaction at whatever speed the network is. Alignment came about because the VC firm Singulariteam partnered with two local Israeli firms, Blockchain IL and CoinTree Capital, to form a sort of blockchain and ICO consultancy which they dubbed "Alignment." The company aims to groom and support the next blockchain unicorn coming out of Israel. The company consults, develops and funds Blockchain early-stage projects and existing companies, from inception through ICO, and later. Startups will need to pay for the privilege, of course. Its listed clients to date include Bancor, messaging app Kik, and Stox. Of those, Bancor conducted a $153 million ICO, while Kik raised $98 million in its token sale earlier this year. Since many people are skeptical of ICOs at the moment (especially in light of the Tezos controversy), Alignment supports blockchain companies, in a climate that's at best lukewarm towards ICOs. Moshe Hogeg, VC, Founder & Chairman of the Singulariteam, pledged Alignment would “invest, without exception, in every Israeli blockchain company in 2017." If you’ve been following the blockchain revolution, you’ve probably heard about Bancor. This company made history when it held one of the most successful ICO’s (at the time it was a world record), raising over $153 million from over 10,000 participants in less than three hours. Bancor has created a market maker application that aims to facilitate trading with other digital coins. The Bancor protocol enables built-in price-discovery and a liquidity mechanism for tokens on smart contract blockchains. Bancor’s claims it allows anyone to create their own cryptocurrency and operate it independent of a third-party exchange. The Bancor Protocol allows for the creation of thousands of cryptocurrencies on the Ethereum blockchain, creating a interconnected asset exchange ecosystem which unlocks the long tail of user-generated tokens. Smart tokens are designed with additional functionality such as “delegated account recovery” and “vaults” to address security issues. The aim of these features is to make cryptocurrencies more accessible and to encourage mass adoption. You may have heard the news about Stox’s ethereum based prediction market platform when Floyd Mayweatherboastedhe would “make a $hit t$n of money … on the Stox.com ICO.” Following Mayweather’s bullish words, Stox raised $33 million in an ICO last August. Stox claims users can predict and trade the outcome of events in almost any imaginable category: Finance, sports, politics and even the weather, as they might in a traditional stock market. Unlike a lot of crypto companies which tailor their services to blockchain experts, the Stox platform is designed to accommodate, and be intuitive for mainstream audiences. As you can see, Israel, and specifically Tel Aviv, is creating a huge force in this new world. If they play their cards right, they could well start to rival the co-called ‘Crypto Valley’ in Switzerland. \|\| Flying High: Bitcoin Cash Rallies on Korean Volume Spike: Bitcoin cash is flying high today and could gain more altitude in the near-term. This morning, the bitcoin cash-U.S. dollar (BCH/USD) exchange rate clocked an 11-day high of $1,623.80 at 08:14 UTC before losing some momentum. At press time, the world's third-largest cryptocurrency by market value is currently changing hands at $1,508 – up 21 percent for the last 24 hours, as perCoinMarketCap. A look at the exchange data indicates that the rally is being fuelled by Korean desks. Trading volumes in BCH/KRW pair offered by Bithumb, one of the largest cryptocurrency exchanges in South Korea, have gone up by 42 percent in the last 24 hours. Driving the rise may be today's news that a South Korean financial regulator has said it has "no plans" to regulate cryptocurrency trading. Meanwhile, the total trading volume for the last 24 hours is well above $4 billion, the highest since Nov. 13. A high volume rally indicates an active market, and that a rally is likely to be sustained. The price action analysis, too, suggests the rally could be extended in the near-term. The overbought nature of the relative strength index (RSI) could be responsible for the pullback from previous highs above $1,600. However, the 5-MA and 10-MA are curving up in favor of the bulls. On the daily chart, the moving averages (MA) are sloping upwards as well. The daily RSI, though close to the overbought territory, is well short of the highs seen in earlier this month. • The base appears to have shifted higher to $1,250. • Technical pullbacks could run out of steam around $1,250 • BCH looks set to take out resistance at $1,550 (horizontal red line) and move higher to $1,800-$2,000 in the near-term. Korean kiteimage via Shutterstock • Bitcoin Cash Plans to Increase Its Block Size, Again • Overstretched? Bitcoin Price on Shaky Ground After 1,000% Gains • It's Official: Bitcoin's Price Makes History Passing $10k • Bitcoin Cash Demand Shocked Us, Says Circle Trading Chief \|\| Flying High: Bitcoin Cash Rallies on Korean Volume Spike: Bitcoin cash is flying high today and could gain more altitude in the near-term. This morning, the bitcoin cash-U.S. dollar (BCH/USD) exchange rate clocked an 11-day high of $1,623.80 at 08:14 UTC before losing some momentum. At press time, the world's third-largest cryptocurrency by market value is currently changing hands at $1,508 – up 21 percent for the last 24 hours, as per CoinMarketCap . A look at the exchange data indicates that the rally is being fuelled by Korean desks. Trading volumes in BCH/KRW pair offered by Bithumb, one of the largest cryptocurrency exchanges in South Korea, have gone up by 42 percent in the last 24 hours. Driving the rise may be today's news that a South Korean financial regulator has said it has " no plans " to regulate cryptocurrency trading. Meanwhile, the total trading volume for the last 24 hours is well above $4 billion, the highest since Nov. 13. A high volume rally indicates an active market, and that a rally is likely to be sustained. The price action analysis, too, suggests the rally could be extended in the near-term. 4-hour chart The overbought nature of the relative strength index (RSI) could be responsible for the pullback from previous highs above $1,600. However, the 5-MA and 10-MA are curving up in favor of the bulls. On the daily chart, the moving averages (MA) are sloping upwards as well. The daily RSI, though close to the overbought territory, is well short of the highs seen in earlier this month. View The base appears to have shifted higher to $1,250. Technical pullbacks could run out of steam around $1,250 BCH looks set to take out resistance at $1,550 (horizontal red line) and move higher to $1,800-$2,000 in the near-term. Korean kite image via Shutterstock Related Stories Bitcoin Cash Plans to Increase Its Block Size, Again Overstretched? Bitcoin Price on Shaky Ground After 1,000% Gains It's Official: Bitcoin's Price Makes History Passing $10k Bitcoin Cash Demand Shocked Us, Says Circle Trading Chief \|\| Flying High: Bitcoin Cash Rallies on Korean Volume Spike: Bitcoin cash is flying high today and could gain more altitude in the near-term. This morning, the bitcoin cash-U.S. dollar (BCH/USD) exchange rate clocked an 11-day high of $1,623.80 at 08:14 UTC before losing some momentum. At press time, the world's third-largest cryptocurrency by market value is currently changing hands at $1,508 – up 21 percent for the last 24 hours, as perCoinMarketCap. A look at the exchange data indicates that the rally is being fuelled by Korean desks. Trading volumes in BCH/KRW pair offered by Bithumb, one of the largest cryptocurrency exchanges in South Korea, have gone up by 42 percent in the last 24 hours. Driving the rise may be today's news that a South Korean financial regulator has said it has "no plans" to regulate cryptocurrency trading. Meanwhile, the total trading volume for the last 24 hours is well above $4 billion, the highest since Nov. 13. A high volume rally indicates an active market, and that a rally is likely to be sustained. The price action analysis, too, suggests the rally could be extended in the near-term. The overbought nature of the relative strength index (RSI) could be responsible for the pullback from previous highs above $1,600. However, the 5-MA and 10-MA are curving up in favor of the bulls. On the daily chart, the moving averages (MA) are sloping upwards as well. The daily RSI, though close to the overbought territory, is well short of the highs seen in earlier this month. • The base appears to have shifted higher to $1,250. • Technical pullbacks could run out of steam around $1,250 • BCH looks set to take out resistance at $1,550 (horizontal red line) and move higher to $1,800-$2,000 in the near-term. Korean kiteimage via Shutterstock • Bitcoin Cash Plans to Increase Its Block Size, Again • Overstretched? Bitcoin Price on Shaky Ground After 1,000% Gains • It's Official: Bitcoin's Price Makes History Passing $10k • Bitcoin Cash Demand Shocked Us, Says Circle Trading Chief \|\| UC Berkeley, KyberNetwork Partner for Decentralized Exchange Research: Digital asset platform KyberNetwork is teaming up with a University of California, Berkeley, blockchain group to study ways to build better decentralized exchanges. The group, Blockchain at Berkeley, announced the new research partnership yesterday, stating that the two groups would be looking at aspects of trading, such as diversity, strategies and sustainability, specifically within KyberNetwork's early-stage exchange model. The two entities have drawn up a three-month roadmap that will see them determining potential problems and coming up with solutions, according to a press release. Kyber's chief executive and co-founder, Loi Luu, said: "We see the power of [decentralised exchanges] to influence adoption of the technology by mainstream users. Berkeley students, energetically focused on innovation and creative problem-solving, are an excellent group to help extend KyberNetwork's ideas and creative energy." While centralized exchanges use the orderbook model to eliminate trading risks, decentralized alternatives do not. According to the release: "The exclusion of orderbook in Kyber Network's model means that the calculated price of these tokens have to be very precise in order for the exchange to stay competitive while keeping the risk of reserve depletion low" To counter this factor, Kyber stressed the importance of maintaining a reserve for the exchange, as well as monitoring the value of its inventory and maintaining accurate prices. For the research parameters of the project, the team will consider four parameters: how long it takes to rebuild the reserve, how many tokens each user can transact with simultaneously, tokens prices and lock-up times for reserve contributors. The research partnership will encompass students, faculty, employees, researchers, engineers and others to develop concepts, undertake the research and "transform concepts into reality in measurable ways," according to the statement. Story continues Back in August, Luu argued that centralized exchanges are potentially unable to handle large volumes of users, touting decentralized trading platforms as a better alternative. However, he added, decentralized exchanges are not as user-friendly as centralized options, and may not have the funds to support mass trading due to small numbers of users. U.C. Berkeley image via Shutterstock Related Stories Former Virtu Trader Plans Decentralized Cryptocurrency Exchange Bitcoin Meets Zcash: Developers Test Tool for Trustless Trades Solving the Liquidity Challenge of Decentralized Exchanges A Cypherpunk Dream: Blockstream Developer Departs to Build Bitcoin Web \|\| UC Berkeley, KyberNetwork Partner for Decentralized Exchange Research: Digital asset platform KyberNetwork is teaming up with a University of California, Berkeley, blockchain group to study ways to build better decentralized exchanges. The group, Blockchain at Berkeley, announced the new research partnership yesterday, stating that the two groups would be looking at aspects of trading, such as diversity, strategies and sustainability, specifically within KyberNetwork's early-stage exchange model. The two entities have drawn up a three-month roadmap that will see them determining potential problems and coming up with solutions, according to a press release. Kyber's chief executive and co-founder, Loi Luu, said: "We see the power of [decentralised exchanges] to influence adoption of the technology by mainstream users. Berkeley students, energetically focused on innovation and creative problem-solving, are an excellent group to help extend KyberNetwork's ideas and creative energy." While centralized exchanges use the orderbook model to eliminate trading risks, decentralized alternatives do not. According to the release: "The exclusion of orderbook in Kyber Network's model means that the calculated price of these tokens have to be very precise in order for the exchange to stay competitive while keeping the risk of reserve depletion low" To counter this factor, Kyber stressed the importance of maintaining a reserve for the exchange, as well as monitoring the value of its inventory and maintaining accurate prices. For the research parameters of the project, the team will consider four parameters: how long it takes to rebuild the reserve, how many tokens each user can transact with simultaneously, tokens prices and lock-up times for reserve contributors. The research partnership will encompass students, faculty, employees, researchers, engineers and others to develop concepts, undertake the research and "transform concepts into reality in measurable ways," according to the statement. Story continues Back in August, Luu argued that centralized exchanges are potentially unable to handle large volumes of users, touting decentralized trading platforms as a better alternative. However, he added, decentralized exchanges are not as user-friendly as centralized options, and may not have the funds to support mass trading due to small numbers of users. U.C. Berkeley image via Shutterstock Related Stories Former Virtu Trader Plans Decentralized Cryptocurrency Exchange Bitcoin Meets Zcash: Developers Test Tool for Trustless Trades Solving the Liquidity Challenge of Decentralized Exchanges A Cypherpunk Dream: Blockstream Developer Departs to Build Bitcoin Web \|\| Thanksgiving Lull? Bitcoin Trades Sideways But Rally May Continue: Bitcoin is continuing its sideways journey today. A move to fresh all-time highs above $8,300 earlier this week has been followed by consolidation in the range of $8,000-$8,300. At press time, the bitcoin-U.S. dollar (BTC/USD) exchange rate is at $8,161 levels. According toCoinMarketCapdata, the world's largest cryptocurrency by market capitalization has depreciated by 1 percent in the last 24 hours. While BTC is holding above the $8,000 mark, the upside is being capped around $8,300. The muted trading conditions could be in part due to the Thanksgiving holidays in the major markets of Japan and the U.S. Further,concernsabout the financial health of Bitfinex, one of the largest exchanges, are possibly having an influence. However, theinvestor communitydoes not appear too concerned about theBitfinex issueand is instead assessing the impact of the rally in bitcoin cash (BCH) andethereum(ETH) prices on bitcoin.Comments on social mediaindicate investors are expecting the number one cryptocurrency by market value to feel the heat of rallies in alternative currencies like BCH and ETH. More immediately, the price action analysis indicates scope for a healthy pullback, although the broader outlook still remains bullish with fans of bitcoinpredicting a $10,000 priceby years' end. The above chart shows: • Rising channel as represented by higher highs and lower highs on price, coupled with falling tops on the RSI (i.e. bearish divergence). • The 50-MA and 100-MA are curled up in favor of the bulls, suggesting a pullback could be short-lived. A break below the rising channel support level of $8,020 could yield a pullback to $7,600 levels. Further losses are unlikely as the 10-day MA ($7,800) is curled up in favor of the bulls. Bullish scenario: A rebound from the channel support, followed by a move above $8,300 would open the door for a rally to a new record high around $8,550 (rising channel resistance). Pumpkinsimage via Shutterstock • It's Official: Bitcoin's Price Makes History Passing $10,000 • Bitcoin Wallet App Abra Adds Support For Ethereum • As Bitcoin Prices Soar, Forked Rivals Face Different Paths • Falling Dominoes? $10,000 Bitcoin Price Now Looks Inevitable \|\| Thanksgiving Lull? Bitcoin Trades Sideways But Rally May Continue: Bitcoin is continuing its sideways journey today. A move to fresh all-time highs above $8,300 earlier this week has been followed by consolidation in the range of $8,000-$8,300. At press time, the bitcoin-U.S. dollar (BTC/USD) exchange rate is at $8,161 levels. According to CoinMarketCap data, the world's largest cryptocurrency by market capitalization has depreciated by 1 percent in the last 24 hours. While BTC is holding above the $8,000 mark, the upside is being capped around $8,300. The muted trading conditions could be in part due to the Thanksgiving holidays in the major markets of Japan and the U.S. Further, concerns about the financial health of Bitfinex, one of the largest exchanges, are possibly having an influence. However, the investor community does not appear too concerned about the Bitfinex issue and is instead assessing the impact of the rally in bitcoin cash (BCH) and ethereum (ETH) prices on bitcoin. Comments on social media indicate investors are expecting the number one cryptocurrency by market value to feel the heat of rallies in alternative currencies like BCH and ETH. More immediately, the price action analysis indicates scope for a healthy pullback, although the broader outlook still remains bullish with fans of bitcoin predicting a $10,000 price by years' end. 4-hour chart The above chart shows: Rising channel as represented by higher highs and lower highs on price, coupled with falling tops on the RSI (i.e. bearish divergence). The 50-MA and 100-MA are curled up in favor of the bulls, suggesting a pullback could be short-lived. View A break below the rising channel support level of $8,020 could yield a pullback to $7,600 levels. Further losses are unlikely as the 10-day MA ($7,800) is curled up in favor of the bulls. Bullish scenario: A rebound from the channel support, followed by a move above $8,300 would open the door for a rally to a new record high around $8,550 (rising channel resistance). Pumpkins image via Shutterstock Related Stories It's Official: Bitcoin's Price Makes History Passing $10,000 Bitcoin Wallet App Abra Adds Support For Ethereum As Bitcoin Prices Soar, Forked Rivals Face Different Paths Falling Dominoes? $10,000 Bitcoin Price Now Looks Inevitable \|\| Thanksgiving Lull? Bitcoin Trades Sideways But Rally May Continue: Bitcoin is continuing its sideways journey today. A move to fresh all-time highs above $8,300 earlier this week has been followed by consolidation in the range of $8,000-$8,300. At press time, the bitcoin-U.S. dollar (BTC/USD) exchange rate is at $8,161 levels. According toCoinMarketCapdata, the world's largest cryptocurrency by market capitalization has depreciated by 1 percent in the last 24 hours. While BTC is holding above the $8,000 mark, the upside is being capped around $8,300. The muted trading conditions could be in part due to the Thanksgiving holidays in the major markets of Japan and the U.S. Further,concernsabout the financial health of Bitfinex, one of the largest exchanges, are possibly having an influence. However, theinvestor communitydoes not appear too concerned about theBitfinex issueand is instead assessing the impact of the rally in bitcoin cash (BCH) andethereum(ETH) prices on bitcoin.Comments on social mediaindicate investors are expecting the number one cryptocurrency by market value to feel the heat of rallies in alternative currencies like BCH and ETH. More immediately, the price action analysis indicates scope for a healthy pullback, although the broader outlook still remains bullish with fans of bitcoinpredicting a $10,000 priceby years' end. The above chart shows: • Rising channel as represented by higher highs and lower highs on price, coupled with falling tops on the RSI (i.e. bearish divergence). • The 50-MA and 100-MA are curled up in favor of the bulls, suggesting a pullback could be short-lived. A break below the rising channel support level of $8,020 could yield a pullback to $7,600 levels. Further losses are unlikely as the 10-day MA ($7,800) is curled up in favor of the bulls. Bullish scenario: A rebound from the channel support, followed by a move above $8,300 would open the door for a rally to a new record high around $8,550 (rising channel resistance). Pumpkinsimage via Shutterstock • It's Official: Bitcoin's Price Makes History Passing $10,000 • Bitcoin Wallet App Abra Adds Support For Ethereum • As Bitcoin Prices Soar, Forked Rivals Face Different Paths • Falling Dominoes? $10,000 Bitcoin Price Now Looks Inevitable [Social Media Buzz] Cryptobot reporting that 1 Bitcoin is now 8250.00 USD! #bitcoin #cryptocurrency \|\| BTC Real Time Price: $8205.01 #GDAX; $8188.15 #bitstamp; $8178.83 #hitbtc; $8175.00 #kraken; $8198.55 #gemini; $8242.00 #cex; \|\| Bitcoin $BTC is sliding, now at 8,173.00 USD. Check out http://btc0in.com for real-time #bitcoin prices. \|\| #Bitcoin -0.03% Ultima: R$ 28980.00 Alta: R$ 29240.00 Baixa: R$ 28680.00 Fonte: Foxbit \|\| GAIN ☞ #dct \| ↑11.5% (5min) \| 0.00008172 ↑ 0.00009112 \| 00:50:57 ET https://bittrex.co...	8790.92, 9330.55, 9818.35, 10058.80, 9888.61, 10233.60, 10975.60, 11074.60, 11323.20, 11657.20
Given the historical Bitcoin prices from the last 90 days, predict the next 10 daily closing prices. The historical prices are: 8801.04, 8658.55, 8864.77, 8988.60, 8897.47, 8912.65, 9003.07, 9268.76, 9951.52, 9842.67, 9593.90, 8756.43, 8601.80, 8804.48, 9269.99, 9733.72, 9328.20, 9377.01, 9670.74, 9726.58, 9729.04, 9522.98, 9081.76, 9182.58, 9209.29, 8790.37, 8906.93, 8835.05, 9181.02, 9525.75, 9439.12, 9700.41, 9461.06, 10167.27, 9529.80, 9656.72, 9800.64, 9665.53, 9653.68, 9758.85, 9771.49, 9795.70, 9870.09, 9321.78, 9480.84, 9475.28, 9386.79, 9450.70, 9538.02, 9480.25, 9411.84, 9288.02, 9332.34, 9303.63, 9648.72, 9629.66, 9313.61, 9264.81, 9162.92, 9045.39, 9143.58, 9190.85, 9137.99, 9228.33, 9123.41, 9087.30, 9132.49, 9073.94, 9375.47, 9252.28, 9428.33, 9277.97, 9278.81, 9240.35, 9276.50, 9243.61, 9243.21, 9192.84, 9132.23, 9151.39, 9159.04, 9185.82, 9164.23, 9374.89, 9525.36, 9581.07, 9536.89, 9677.11, 9905.17, 10990.87.	[Bitcoin Technical Analysis for 2020-07-27] Volume: 35359749590, RSI (14-day): 84.67, 50-day EMA: 9362.66, 200-day EMA: 8771.55 [Wider Market Context] Gold Price: 1931.00, Gold RSI: 81.96 Oil Price: 41.60, Oil RSI: 60.49 [Recent News (last 7 days)] The Future for Unregulated Bitcoin Exchanges: To KYC or not to KYC? In this episode, CoinDesk’s Anna Baydakova talks to Hodl Hodl and Bisq, two non-custodial, no-KYC bitcoin exchanges. For daily insights and unique perspectives listen or subscribe to the CoinDesk Podcast Network with Apple Podcasts , Spotify , Pocketcasts , Google Podcasts , Castbox , Stitcher , RadioPublica , IHeartRadio or RSS . This episode is sponsored by Bitstamp and Crypto.com . Related: Crypto News Roundup for July 27, 2020 One year ago, the Financial Action Task Force, the global anti-money laundering watchdog, ruled that crypto transactions data should be controllable, and ever since the question has been not if you know your customers (KYC) but how you do it. But not all bitcoiners have surrendered to this norm. Hodl Hodl and Bisq don’t provide centralized custody and don’t check user identity. They also don’t employ the blockchain tracing tools to block the “tainted” coins (blacklisted as coming from illicit activities), which has become a must for major bitcoin exchanges these days. What comes with this? A chance to buy and sell bitcoin without revealing your identity, as well as much more responsibility over how you buy and store your crypto. Max Keidun, the CEO of Hodl Hodl , and Steve Jain, contributor to Bisq , dig into why, in the times of crypto compliance, people still might need (or maybe just lawfully want) to keep their bitcoin deals to themselves. See also: P2P Exchange Hodl Hodl Takes First Step in Bringing Private Bitcoin Trades to BlueWallet Users Related: Is This China’s Century or the US’s? Maybe It’s Both There are more questions to arise from such old-school cypherpunk thinking: how can you make sure you don’t get scammed at these p2p platforms? What do you do if you buy “tainted” coins blacklisted by the FATF-abiding exchanges and vendors? Max and Steve share their takes on this, and the main explanation is probably: “everything has a price.” Including freedom from surveillance and data leaks. Story continues We also touch the matter of decentralization that is important to both Hodl Hodl and Bisq. Hodl Hodl is planning to open source itself , so everyone can clone and run their own p2p bitcoin exchange in case the regulators go after Keidun and his team. And Bisq fully decentralized last year, when it turned all its decision making over to a DAO . For daily insights and unique perspectives listen or subscribe to the CoinDesk Podcast Network with Apple Podcasts , Spotify , Pocketcasts , Google Podcasts , Castbox , Stitcher , RadioPublica , IHeartRadio or RSS . Related Stories The Future for Unregulated Bitcoin Exchanges The Future for Unregulated Bitcoin Exchanges \|\| The Future for Unregulated Bitcoin Exchanges: To KYC or not to KYC? In this episode, CoinDesk’s Anna Baydakova talks to Hodl Hodl and Bisq, two non-custodial, no-KYC bitcoin exchanges. For daily insights and unique perspectives listen or subscribe to the CoinDesk Podcast Network withApple Podcasts,Spotify,Pocketcasts,Google Podcasts,Castbox,Stitcher,RadioPublica,IHeartRadioorRSS. This episode is sponsored byBitstampandCrypto.com. Related:Crypto News Roundup for July 27, 2020 One year ago, the Financial Action Task Force, the global anti-money laundering watchdog,ruledthat crypto transactions data should be controllable, and ever since the question has been notifyou know your customers (KYC) buthowyou do it. But not all bitcoiners have surrendered to this norm. Hodl Hodl and Bisq don’t provide centralized custody and don’t check user identity. They also don’t employ the blockchain tracing tools to block the “tainted” coins (blacklisted as coming from illicit activities), which hasbecome a mustfor majorbitcoinexchanges these days. What comes with this? A chance to buy and sell bitcoin without revealing your identity, as well as much more responsibility over how you buy and store your crypto. Max Keidun, the CEO ofHodl Hodl, and Steve Jain, contributor toBisq, dig into why, in the times of crypto compliance, people still might need (or maybe just lawfully want) to keep their bitcoin deals to themselves. See also:P2P Exchange Hodl Hodl Takes First Step in Bringing Private Bitcoin Trades to BlueWallet Users Related:Is This China’s Century or the US’s? Maybe It’s Both There are more questions to arise from such old-school cypherpunk thinking: how can you make sure you don’t get scammed at these p2p platforms? What do you do if you buy “tainted” coins blacklisted by the FATF-abiding exchanges and vendors? Max and Steve share their takes on this, and the main explanation is probably: “everything has a price.” Including freedom from surveillance and data leaks. We also touch the matter of decentralization that is important to both Hodl Hodl and Bisq. Hodl Hodl is planning toopen source itself, so everyone can clone and run their own p2p bitcoin exchange in case the regulators go after Keidun and his team. And Bisq fully decentralized last year, when it turned all its decision making over to aDAO. For daily insights and unique perspectives listen or subscribe to the CoinDesk Podcast Network withApple Podcasts,Spotify,Pocketcasts,Google Podcasts,Castbox,Stitcher,RadioPublica,IHeartRadioorRSS. • The Future for Unregulated Bitcoin Exchanges • The Future for Unregulated Bitcoin Exchanges \|\| The Future for Unregulated Bitcoin Exchanges: To KYC or not to KYC? In this episode, CoinDesk’s Anna Baydakova talks to Hodl Hodl and Bisq, two non-custodial, no-KYC bitcoin exchanges. For daily insights and unique perspectives listen or subscribe to the CoinDesk Podcast Network withApple Podcasts,Spotify,Pocketcasts,Google Podcasts,Castbox,Stitcher,RadioPublica,IHeartRadioorRSS. This episode is sponsored byBitstampandCrypto.com. Related:Crypto News Roundup for July 27, 2020 One year ago, the Financial Action Task Force, the global anti-money laundering watchdog,ruledthat crypto transactions data should be controllable, and ever since the question has been notifyou know your customers (KYC) buthowyou do it. But not all bitcoiners have surrendered to this norm. Hodl Hodl and Bisq don’t provide centralized custody and don’t check user identity. They also don’t employ the blockchain tracing tools to block the “tainted” coins (blacklisted as coming from illicit activities), which hasbecome a mustfor majorbitcoinexchanges these days. What comes with this? A chance to buy and sell bitcoin without revealing your identity, as well as much more responsibility over how you buy and store your crypto. Max Keidun, the CEO ofHodl Hodl, and Steve Jain, contributor toBisq, dig into why, in the times of crypto compliance, people still might need (or maybe just lawfully want) to keep their bitcoin deals to themselves. See also:P2P Exchange Hodl Hodl Takes First Step in Bringing Private Bitcoin Trades to BlueWallet Users Related:Is This China’s Century or the US’s? Maybe It’s Both There are more questions to arise from such old-school cypherpunk thinking: how can you make sure you don’t get scammed at these p2p platforms? What do you do if you buy “tainted” coins blacklisted by the FATF-abiding exchanges and vendors? Max and Steve share their takes on this, and the main explanation is probably: “everything has a price.” Including freedom from surveillance and data leaks. We also touch the matter of decentralization that is important to both Hodl Hodl and Bisq. Hodl Hodl is planning toopen source itself, so everyone can clone and run their own p2p bitcoin exchange in case the regulators go after Keidun and his team. And Bisq fully decentralized last year, when it turned all its decision making over to aDAO. For daily insights and unique perspectives listen or subscribe to the CoinDesk Podcast Network withApple Podcasts,Spotify,Pocketcasts,Google Podcasts,Castbox,Stitcher,RadioPublica,IHeartRadioorRSS. • The Future for Unregulated Bitcoin Exchanges • The Future for Unregulated Bitcoin Exchanges \|\| Bitcoin rises above $10,000 for first time since early June: (Reuters) - After several weeks of trading in narrow ranges, bitcoin breached $10,000 on Sunday for the first time since early June. In addition to suffering pricing blows due to the economic fallout from the coronavirus outbreak, the virtual currency went through its third so-called halving on May 11, which cut the rewards given to those who "mine" bitcoin to 6.25 new coins from 12.5. The "halving" has affected the supply side of bitcoin and increased the time needed for miners to find their break-even point. On Sunday, the cryptocurrency hit highs of $10,200. (Reporting by Melissa Fares in New York; Editing by Lisa Shumaker) \|\| Bitcoin rises above $10,000 for first time since early June: (Reuters) - After several weeks of trading in narrow ranges, bitcoin breached $10,000 on Sunday for the first time since early June. In addition to suffering pricing blows due to the economic fallout from the coronavirus outbreak, the virtual currency went through its third so-called halving on May 11, which cut the rewards given to those who "mine" bitcoin to 6.25 new coins from 12.5. The "halving" has affected the supply side of bitcoin and increased the time needed for miners to find their break-even point. On Sunday, the cryptocurrency hit highs of $10,200. (Reporting by Melissa Fares in New York; Editing by Lisa Shumaker) \|\| Bitcoin rises above $10,000 for first time since early June: (Reuters) - After several weeks of trading in narrow ranges, bitcoin breached $10,000 on Sunday for the first time since early June. In addition to suffering pricing blows due to the economic fallout from the coronavirus outbreak, the virtual currency went through its third so-called halving on May 11, which cut the rewards given to those who "mine" bitcoin to 6.25 new coins from 12.5. The "halving" has affected the supply side of bitcoin and increased the time needed for miners to find their break-even point. On Sunday, the cryptocurrency hit highs of $10,200. (Reporting by Melissa Fares in New York; Editing by Lisa Shumaker) \|\| Bitcoin Price Logs Two-Month High Above $10,000: Bitcoin‘s price crossed into five figures on Sunday to hit its highest level in nearly two months. However, it still lags Ethereum’sethertoken, which recently traded at 13-month highs. • Bitcoin rose to $10,135 at 10:05 UTC – a level last seen on June 2. • The biggest cryptocurrency by market value is trading near $9,970 at press time, representing a 4% gain on a 24-hour basis and 8% gains on a week-to-date basis. • “TheDeFi-led surgein Ethereum’s ether token, the second-largest cryptocurrency, seems to have spilled over into the bitcoin market,” said John Ng Pangilinan, managing partner at Singapore-based Signum Capital. • Ether’s price rose to a 13-month high of $319 early Friday and is currently trading at $310 – up over 9% on a 24-hour basis and 30% this week alone. • The token, which powers Ethereum’s blockchain, has gained 140% this year, leaving bitcoin, up 40% on a year-to-date basis, far behind. • Bitcoin is outshining gold, which has appreciated by 25% this year. • However, gold is trading close to its record high of $1,920 reached in 2011, while bitcoin is still down 50% from its lifetime high of $20,000 hit in December 2017. • The U.S. Federal Reserve’s massive liquidity injections and thenegative yieldon the inflation-adjusted US bonds look to havepowered gainsin gold, an inflation-hedge. • Bitcoin, however, struggled to draw hedging bids over the past two months and was locked in the narrow range of $9,000 to $10,000. • Some investorsexpect bitcoin to chart stronger gains in the near future as the cryptocurrency has breached a bearish trendline falling from December 2017 and June 2019 highs. • Bitcoin Price Logs Two-Month High Above $10,000 • Bitcoin Price Logs Two-Month High Above $10,000 • Bitcoin Price Logs Two-Month High Above $10,000 • Bitcoin Price Logs Two-Month High Above $10,000 \|\| Bitcoin Price Logs Two-Month High Above $10,000: Bitcoin s price crossed into five figures on Sunday to hit its highest level in nearly two months. However, it still lags Ethereums ether token, which recently traded at 13-month highs. Bitcoin rose to $10,135 at 10:05 UTC a level last seen on June 2. The biggest cryptocurrency by market value is trading near $9,970 at press time, representing a 4% gain on a 24-hour basis and 8% gains on a week-to-date basis. The DeFi-led surge in Ethereums ether token, the second-largest cryptocurrency, seems to have spilled over into the bitcoin market, said John Ng Pangilinan, managing partner at Singapore-based Signum Capital. Ethers price rose to a 13-month high of $319 early Friday and is currently trading at $310 up over 9% on a 24-hour basis and 30% this week alone. The token, which powers Ethereums blockchain, has gained 140% this year, leaving bitcoin, up 40% on a year-to-date basis, far behind. Bitcoin is outshining gold, which has appreciated by 25% this year. However, gold is trading close to its record high of $1,920 reached in 2011, while bitcoin is still down 50% from its lifetime high of $20,000 hit in December 2017. The U.S. Federal Reserves massive liquidity injections and the negative yield on the inflation-adjusted US bonds look to have powered gains in gold, an inflation-hedge. Bitcoin, however, struggled to draw hedging bids over the past two months and was locked in the narrow range of $9,000 to $10,000. Some investors expect bitcoin to chart stronger gains in the near future as the cryptocurrency has breached a bearish trendline falling from December 2017 and June 2019 highs. Related Stories Bitcoin Price Logs Two-Month High Above $10,000 Bitcoin Price Logs Two-Month High Above $10,000 Bitcoin Price Logs Two-Month High Above $10,000 Bitcoin Price Logs Two-Month High Above $10,000 View comments \|\| Bitcoin Price Logs Two-Month High Above $10,000: Bitcoin‘s price crossed into five figures on Sunday to hit its highest level in nearly two months. However, it still lags Ethereum’sethertoken, which recently traded at 13-month highs. • Bitcoin rose to $10,135 at 10:05 UTC – a level last seen on June 2. • The biggest cryptocurrency by market value is trading near $9,970 at press time, representing a 4% gain on a 24-hour basis and 8% gains on a week-to-date basis. • “TheDeFi-led surgein Ethereum’s ether token, the second-largest cryptocurrency, seems to have spilled over into the bitcoin market,” said John Ng Pangilinan, managing partner at Singapore-based Signum Capital. • Ether’s price rose to a 13-month high of $319 early Friday and is currently trading at $310 – up over 9% on a 24-hour basis and 30% this week alone. • The token, which powers Ethereum’s blockchain, has gained 140% this year, leaving bitcoin, up 40% on a year-to-date basis, far behind. • Bitcoin is outshining gold, which has appreciated by 25% this year. • However, gold is trading close to its record high of $1,920 reached in 2011, while bitcoin is still down 50% from its lifetime high of $20,000 hit in December 2017. • The U.S. Federal Reserve’s massive liquidity injections and thenegative yieldon the inflation-adjusted US bonds look to havepowered gainsin gold, an inflation-hedge. • Bitcoin, however, struggled to draw hedging bids over the past two months and was locked in the narrow range of $9,000 to $10,000. • Some investorsexpect bitcoin to chart stronger gains in the near future as the cryptocurrency has breached a bearish trendline falling from December 2017 and June 2019 highs. • Bitcoin Price Logs Two-Month High Above $10,000 • Bitcoin Price Logs Two-Month High Above $10,000 • Bitcoin Price Logs Two-Month High Above $10,000 • Bitcoin Price Logs Two-Month High Above $10,000 \|\| The Pound Reacts to New Stimulus Plan that Aims to Jump-Start the Economy: The Organization for Economic Co-operation and Development (OECD) said that the UK’s economy is going to plunge by 11.5% throughout this year. Still, it could get worse if there were a second wave of COVID-19 infections. If this were to happen, the economy could compress further in the months to come leading to 2021. Given the concerning projections, chancellor Rishi Sunak rolled out a new plan that is set to jump-start the economy by supporting jobs and businesses. The idea behind the fresh measures is to ensure that the “economic recovery is as strong and as swift as possible.” The plan provides a clear path around protecting, supporting, and creating new jobs to boost the confidence of employers. But it fails to address how it will improve the day-to-day lives of the British people. In fact, there are no mentions regarding funding for public schools, transportation, and cultural amenities, such as museums, galleries, public parks, and others. With lockdown measures easing in the UK, investors are growing hopeful about a further economic recovery. This sense of optimism was barely interrupted on Monday, July 13th, after the governor of the Bank of England Andrew Bailey said to be “very worried” about jobs across the nation. Following the banker’s speech, the Pound crashed by 1.47% to hit a low of $1.248 on July 14th, but investors’ confidence did not fade away. The GBP/USD exchange rate has been able to recover since then surging over 1.70% to trade at $1.272 as of July 23rd. While Sterling seems to have more room to go up, there is a massive resistance barrier sitting ahead of it. The Pound must break through $1.275 to retest June 10th high of $1.281 or even reach the next hurdle at $1.301. Given the uncertainty around Britain’s economy, investors might be able to hedge against potential risks with Bitcoin . The flagship cryptocurrency recently moved past the $9,400 resistance wall and made a higher high for the first time since June. If the buying pressure behind BTC continues to rise, it would likely take another shot at the infamous $10,000 hurdle. Moving past this area of resistance increases the odds for new yearly highs. Story continues Everything will depend on Bitcoin’s ability to stay above the $8,900 support level. Expectations Grow Around the Pound Sterling was able to recover strongly following March’s market meltdown. The new fiscal stimulus recently announced and hopes for a vaccine against COVID-19 also seems to have helped propel the Pound higher. While the risks of Brexit talks and rising tensions with China are still relevant, GBP might be able to weather the storm against the US dollar. Given the current economic outlook with the Federal Reserve adding more liquidity into the market, traders must watch out for the $1.275 resistance level since it may allow the Pound to advance further. If sell orders begin to pile up, however, Sterling might retrace to $1.253. Under such circumstances, the two crucial price hurdles ahead of the Pound are the $1.275 resistance and the $1.266 support level. Moving above or below these critical price levels will determine where the GBP/USD exchange rate is headed next. For a look at all of today’s economic events, check out our economic calendar . Konstantin Anissimov, Executive Director at CEX.IO This article was originally posted on FX Empire More From FXEMPIRE: E-mini NASDAQ-100 Index (NQ) Futures Technical Analysis – Main Trend Changed to Down on Friday Gold Price Prediction – Prices Rise and are Poised to Test All-time Highs European Equities: A Week in Review – 25/07/20 E-mini Dow Jones Industrial Average (YM) Futures Technical Analysis – Possible Steep Plunge Under 26298 Apple to Outperform Q2 Estimates; Forecast Revenue and EPS of $55.1 Billion and $2.18: Morgan Stanley Dollar Momentum \|\| The Pound Reacts to New Stimulus Plan that Aims to Jump-Start the Economy: The Organization for Economic Co-operation and Development (OECD) said that the UK’s economy is going to plunge by 11.5% throughout this year. Still, it could get worse if there were a second wave of COVID-19 infections. If this were to happen, the economy could compress further in the months to come leading to 2021. Given the concerning projections, chancellor Rishi Sunak rolled out a new plan that is set to jump-start the economy by supporting jobs and businesses. The idea behind the fresh measures is to ensure that the “economic recovery is as strong and as swift as possible.” The plan provides a clear path around protecting, supporting, and creating new jobs to boost the confidence of employers. But it fails to address how it will improve the day-to-day lives of the British people. In fact, there are no mentions regarding funding for public schools, transportation, and cultural amenities, such as museums, galleries, public parks, and others. With lockdown measures easing in the UK, investors are growing hopeful about a further economic recovery. This sense of optimism was barely interrupted on Monday, July 13th, after the governor of the Bank of England Andrew Bailey said to be “very worried” about jobs across the nation. Following the banker’s speech, the Pound crashed by 1.47% to hit a low of $1.248 on July 14th, but investors’ confidence did not fade away. TheGBP/USDexchange rate has been able to recover since then surging over 1.70% to trade at $1.272 as of July 23rd. While Sterling seems to have more room to go up, there is a massive resistance barrier sitting ahead of it. The Pound must break through $1.275 to retest June 10th high of $1.281 or even reach the next hurdle at $1.301. Given the uncertainty around Britain’s economy, investors might be able to hedge against potential risks withBitcoin. The flagship cryptocurrency recently moved past the $9,400 resistance wall and made a higher high for the first time since June. If the buying pressure behind BTC continues to rise, it would likely take another shot at the infamous $10,000 hurdle. Moving past this area of resistance increases the odds for new yearly highs. Everything will depend on Bitcoin’s ability to stay above the $8,900 support level. Sterling was able to recover strongly following March’s market meltdown. The new fiscal stimulus recently announced and hopes for a vaccine against COVID-19 also seems to have helped propel the Pound higher. While the risks of Brexit talks and rising tensions with China are still relevant, GBP might be able to weather the storm against the US dollar. Given the current economic outlook with the Federal Reserve adding more liquidity into the market, traders must watch out for the $1.275 resistance level since it may allow the Pound to advance further. If sell orders begin to pile up, however, Sterling might retrace to $1.253. Under such circumstances, the two crucial price hurdles ahead of the Pound are the $1.275 resistance and the $1.266 support level. Moving above or below these critical price levels will determine where the GBP/USD exchange rate is headed next. For a look at all of today’s economic events, check out oureconomic calendar. Konstantin Anissimov, Executive Director at CEX.IO Thisarticlewas originally posted on FX Empire • E-mini NASDAQ-100 Index (NQ) Futures Technical Analysis – Main Trend Changed to Down on Friday • Gold Price Prediction – Prices Rise and are Poised to Test All-time Highs • European Equities: A Week in Review – 25/07/20 • E-mini Dow Jones Industrial Average (YM) Futures Technical Analysis – Possible Steep Plunge Under 26298 • Apple to Outperform Q2 Estimates; Forecast Revenue and EPS of $55.1 Billion and $2.18: Morgan Stanley • Dollar Momentum \|\| The Crypto Daily – Movers and Shakers – July 26th, 2020: Bitcoin, BTC to USD, rose by 1.63% on Saturday. Reversing a 0.58% loss from Friday, Bitcoin ended the day at $9,714.9. It was bullish day, with Bitcoin rallying from an early morning intraday low $9,555.5 to a late intraday high $9,754.5. Bitcoin broke through the first major resistance level at $9,645.5 and second major resistance level at $9,731.9 before easing back. A late pullback saw Bitcoin fall back to sub-$9,700 levels before wrapping up the day at $9,700 levels. The near-term bullish trend remained intact in spite of the early July pullback to sub-$9,000 levels. For the bears, Bitcoin would need to slide through the 62% FIB of $6,400 to form a near-term bearish trend. Across the rest of the majors, it was a bullish day on Saturday. Cardano’s ADA rallied by 17.76% to lead the way. Bitcoin Cash ABC (+6.00%), Bitcoin Cash SV (+7.59%), Ethereum (+9.30%), and Litecoin (+11.43%) also made strong gains. Binance Coin (+3.38%), EOS (+4.99%), Monero’s XMR (+2.55%), Ripple’s XRP (+5.23%), Stellar’s Lumen (+4.71%), Tezos (+0.89%), and Tron’s TRX (+3.98%) trailed the front runners. In the current week, the crypto total market cap fell to a Monday low $262.70bn before hitting a Saturday high $291.48bn. At the time of writing, the total market cap stood at $287.68bn. Bitcoin’s dominance rose to a Tuesday high 64.08% before sliding to a Saturday low 61.70%. At the time of writing, Bitcoin’s dominance stood at 62.07%. At the time of writing, Bitcoin was down by 0.19% to $9,696.5. A mixed start to the day saw Bitcoin rise to an early morning high $9,722.8 before falling to a low $9,690.4. Bitcoin left the major support and resistance levels untested early on. Elsewhere, it was a mixed start to the day. At the time of writing, Bitcoin Cash ABC (+0.92%) and Bitcoin Cash SV (+0.33%) bucked the trend early on. It was a bearish start for the rest of the majors, however. Stellar’s Lumen was down by 1.35% to lead the way down early on. https://www.tradingview.com/x/ztgae3yU/ For the Bitcoin Day Ahead Bitcoin would need to avoid a fall through the $9,675 pivot to support a run at the first major resistance level at $9,794. Support from the broader market would be needed, however, for Bitcoin to break out from Saturday’s high $9,754.5. Barring another extended crypto rally, the first major resistance level and Saturday’s high would likely cap any upside. In the event of a crypto breakout, Bitcoin could test the second major resistance level at $9,874 and resistance at $10,000. The third major resistance level sits at $10,073. Failure to avoid a fall through the $9,675 pivot level would bring the first major support level at $9,595 into play. Barring an extended crypto sell-off, however, Bitcoin should steer clear of the second major resistance level at $9,476. Thisarticlewas originally posted on FX Empire • Crude Oil Price Update – Trader Reaction to $41.24 Pivot Sets the Short-Term Tone • U.S. Dollar Index (DX) Futures Technical Analysis – Drilled Lower by Weaker-Than-Expected PMI Data • E-mini S&P 500 Index (ES) Futures Technical Analysis – Confirmed Reversal Top Shifts Momentum to Downside • Crude Oil Price Forecast – Crude Oil Markets Slump Into Weekend • US Stock Market Overview – Stocks Drop Ahead Large Tech Earnings • S&P 500 Weekly Price Forecast – 3200 Continues to Be Point of Contention \|\| The Crypto Daily – Movers and Shakers – July 26th, 2020: Bitcoin, BTC to USD, rose by 1.63% on Saturday. Reversing a 0.58% loss from Friday, Bitcoin ended the day at $9,714.9. It was bullish day, with Bitcoin rallying from an early morning intraday low $9,555.5 to a late intraday high $9,754.5. Bitcoin broke through the first major resistance level at $9,645.5 and second major resistance level at $9,731.9 before easing back. A late pullback saw Bitcoin fall back to sub-$9,700 levels before wrapping up the day at $9,700 levels. The near-term bullish trend remained intact in spite of the early July pullback to sub-$9,000 levels. For the bears, Bitcoin would need to slide through the 62% FIB of $6,400 to form a near-term bearish trend. The Rest of the Pack Across the rest of the majors, it was a bullish day on Saturday. Cardano’s ADA rallied by 17.76% to lead the way. Bitcoin Cash ABC (+6.00%), Bitcoin Cash SV (+7.59%), Ethereum (+9.30%), and Litecoin (+11.43%) also made strong gains. Binance Coin (+3.38%), EOS (+4.99%), Monero’s XMR (+2.55%), Ripple’s XRP (+5.23%), Stellar’s Lumen (+4.71%), Tezos (+0.89%), and Tron’s TRX (+3.98%) trailed the front runners. In the current week, the crypto total market cap fell to a Monday low $262.70bn before hitting a Saturday high $291.48bn. At the time of writing, the total market cap stood at $287.68bn. Bitcoin’s dominance rose to a Tuesday high 64.08% before sliding to a Saturday low 61.70%. At the time of writing, Bitcoin’s dominance stood at 62.07%. This Morning At the time of writing, Bitcoin was down by 0.19% to $9,696.5. A mixed start to the day saw Bitcoin rise to an early morning high $9,722.8 before falling to a low $9,690.4. Bitcoin left the major support and resistance levels untested early on. Elsewhere, it was a mixed start to the day. At the time of writing, Bitcoin Cash ABC (+0.92%) and Bitcoin Cash SV (+0.33%) bucked the trend early on. It was a bearish start for the rest of the majors, however. Story continues Stellar’s Lumen was down by 1.35% to lead the way down early on. https://www.tradingview.com/x/ztgae3yU/ For the Bitcoin Day Ahead Bitcoin would need to avoid a fall through the $9,675 pivot to support a run at the first major resistance level at $9,794. Support from the broader market would be needed, however, for Bitcoin to break out from Saturday’s high $9,754.5. Barring another extended crypto rally, the first major resistance level and Saturday’s high would likely cap any upside. In the event of a crypto breakout, Bitcoin could test the second major resistance level at $9,874 and resistance at $10,000. The third major resistance level sits at $10,073. Failure to avoid a fall through the $9,675 pivot level would bring the first major support level at $9,595 into play. Barring an extended crypto sell-off, however, Bitcoin should steer clear of the second major resistance level at $9,476. This article was originally posted on FX Empire More From FXEMPIRE: Crude Oil Price Update – Trader Reaction to $41.24 Pivot Sets the Short-Term Tone U.S. Dollar Index (DX) Futures Technical Analysis – Drilled Lower by Weaker-Than-Expected PMI Data E-mini S&P 500 Index (ES) Futures Technical Analysis – Confirmed Reversal Top Shifts Momentum to Downside Crude Oil Price Forecast – Crude Oil Markets Slump Into Weekend US Stock Market Overview – Stocks Drop Ahead Large Tech Earnings S&P 500 Weekly Price Forecast – 3200 Continues to Be Point of Contention \|\| What Sex Workers Want to Do With Bitcoin: In this audio interview, CoinDesk’s Leigh Cuen and OnlyFans performer Savannah Solo talk about fintech and the sex industry. From distribution platforms to Twitter and bitcoin , she helps break down what sex workers really need from digital tools. For more episodes and free early access before our regular 3 p.m. Eastern time releases, subscribe with Apple Podcasts , Spotify , Pocketcasts , Google Podcasts , Castbox , Stitcher , RadioPublica , iHeartRadio or RSS . This episode is sponsored by Bitstamp and Crypto.com . Related: The Future for Unregulated Bitcoin Exchanges Savannah Solo started her OnlyFans account in January 2020 and within a few months became one of the top earners on the platform in her category. She’s never used bitcoin before because she relies on platforms like OnlyFans and Cash App for regular banking services. She said some performers have been temporarily deplatformed or lost access to their funds, but she’s been lucky so far. She often works a 16-hour day during these first few months of building her business. “The market got super, super saturated during quarantine…they [OnlyFans performers] were having trouble getting any subscribers at all,” Solo said. “In my first month, in January, I only made $80.” There’s a common misconception that sex workers are now making much more money than before the coronavirus crisis. Both Solo and fellow sex worker Honey Li agreed the brief flurry of new customers settled down in the spring and that summer has been a particularly slow season. Related: Is This China’s Century or the US’s? Maybe It’s Both “ Nobody is saying they are making more because of the pandemic,” Li said. “There’s a lot more new models….as for the blue collar guys that tip you, a lot of them have lost their jobs.” Li prefers the camming site Chaturbate, instead of OnlyFans. Chaturbate charges performers nearly half of their earnings to use the site, much higher than the 20% charge from OnlyFans. But Chaturbate offers a feature that Li prefers; customers can pay in cryptocurrency and performers can cash out in bitcoin . The site still acts as a middleman, but at least Li can choose her currency. Story continues “My customer base is mostly American, so there are instances where bitcoin is more useful for me, especially when I’m traveling,” said Li, who is based in Europe. Bitcoin tippers Li said some Chaturbate performers, like her, take a fraction of their earnings in bitcoin if they make extra that month. This is regardless of whether the customer paid in bitcoin, since the payment is to the platform anyway. In addition to cashing out from the performance platform in bitcoin, Li also uses personal wallets to accept money directly from fans. Over the past year four clients tipped her in bitcoin. Yet that minority can have a large impact. “Customers that give money directly tend to be regulars, really big fans…5% of my customers make up 90% of my income,” Li said. “There’s not a lot of people that accept bitcoin from clients directly, but I do know some findommes [ financial dominatrix ] who do. For a birthday gift, for example, I’ll be like cool here’s my wallet.” Solo said she hasn’t been offered bitcoin yet. She’s still trying to manage some of the technical basics of running her own business. “The platforms do extremely little work to help you out,” Solo said. “There is no [tech] support.” Tech support There are a variety of tech-savvy sex workers creating their own bitcoin-friendly platforms and teaching each other how to use various technologies. For example, an escort booking consultant named Jo, who has been helping sex workers garner and screen clients for two years, said a few women paid her in 2019 to help them use bitcoin. The bitcoin advertising campaign lasted for a few months, on a website that only accepts bitcoin. This is generally uncommon. Jo said it was a hassle. “I think a lot of girls in this industry want to protect their identity. However, it [bitcoin] is not the most user-friendly thing,” Jo said about the returns for time spent using bitcoin. “It was pretty dead for a while [bookings]. Business has come back, but it’s slower than usual.” Solo also noticed the imbalance of supply and demand this summer across the sex industry. She said she usually turns to other performers for tech support and doesn’t know of other consulting options for sex workers. Performers like her generally rely on platforms like Twitter, Instagram, OnlyFans and Chaturbate to advertise their brands. Converting casual tippers into direct customers is the hardest part of the business. Until they do, performers like Solo struggle to deal with refund issues like chargebacks . “That’s a huge issue,” Solo said about chargebacks . “People send sex workers money…then the person can call their bank, have it back-charged, and all of the money comes out of the sex worker’s account.” “That’s such a nightmare and it happens all the time,” she added. “People get free service out of that and it’s super gross.” Related Stories What Sex Workers Want to Do With Bitcoin What Sex Workers Want to Do With Bitcoin \|\| What Sex Workers Want to Do With Bitcoin: In this audio interview, CoinDesk’s Leigh Cuen and OnlyFans performerSavannah Solotalk about fintech and the sex industry. From distribution platforms to Twitter andbitcoin, she helps break down what sex workers really need from digital tools. Formore episodesand free early access before our regular 3 p.m. Eastern time releases, subscribe withApple Podcasts,Spotify,Pocketcasts,Google Podcasts,Castbox,Stitcher,RadioPublica,iHeartRadioorRSS. This episode is sponsored byBitstampandCrypto.com. Related:The Future for Unregulated Bitcoin Exchanges Savannah Solo started her OnlyFans account in January 2020 and within a few months became one of the top earners on the platform in her category. She’s never used bitcoin before because she relies on platforms like OnlyFans and Cash App for regular banking services. She said someperformershave been temporarily deplatformed or lost access to their funds, but she’s been lucky so far. She often works a 16-hour day during these first few months of building her business. “The market got super, super saturated during quarantine…they [OnlyFans performers] were having trouble getting any subscribers at all,” Solo said. “In my first month, in January, I only made $80.” There’s a common misconception that sex workers are now making much more money than before the coronavirus crisis. Both Solo and fellow sex worker Honey Li agreed the brief flurry of new customers settled down in the spring and that summer has been a particularly slow season. Related:Is This China’s Century or the US’s? Maybe It’s Both “Nobody is saying they are making more because of the pandemic,” Li said. “There’s a lot more new models….as for the blue collar guys that tip you, a lot of them have lost their jobs.” Li prefers the camming site Chaturbate, instead of OnlyFans. Chaturbate charges performers nearly half of their earnings to use the site, much higher than the 20% charge from OnlyFans. But Chaturbate offers a feature that Li prefers; customers canpay in cryptocurrencyand performers cancash out in bitcoin. The site still acts as a middleman, but at least Li can choose her currency. “My customer base is mostly American, so there are instances where bitcoin is more useful for me, especially when I’m traveling,” said Li, who is based in Europe. Li said some Chaturbate performers, like her, take a fraction of their earnings in bitcoin if they make extra that month. This is regardless of whether the customer paid in bitcoin, since the payment is to the platform anyway. In addition to cashing out from the performance platform in bitcoin, Li also uses personal wallets to accept money directly from fans. Over the past year four clients tipped her in bitcoin. Yet that minority can have a large impact. “Customers that give money directly tend to be regulars, really big fans…5% of my customers make up 90% of my income,” Li said. “There’s not a lot of people that accept bitcoin from clients directly, but I do know some findommes [financial dominatrix] who do. For a birthday gift, for example, I’ll be like cool here’s my wallet.” Solo said she hasn’t been offered bitcoin yet. She’s still trying to manage some of the technical basics of running her own business. “The platforms do extremely little work to help you out,” Solo said. “There is no [tech] support.” There are a variety of tech-savvy sex workers creating their ownbitcoin-friendly platformsand teaching each other how to use various technologies. For example, an escort booking consultant named Jo, who has been helping sex workers garner and screen clients for two years, said a few women paid her in 2019 to help them use bitcoin. The bitcoin advertising campaign lasted for a few months, on a website that only accepts bitcoin. This is generally uncommon. Jo said it was a hassle. “I think a lot of girls in this industry want to protect their identity. However, it [bitcoin] is not the most user-friendly thing,” Jo said about the returns for time spent using bitcoin. “It was pretty dead for a while [bookings]. Business has come back, but it’s slower than usual.” Solo also noticed the imbalance of supply and demand this summer across the sex industry. She said she usually turns to other performers for tech support and doesn’t know of other consulting options for sex workers. Performers like her generally rely on platforms like Twitter, Instagram, OnlyFans and Chaturbate to advertise their brands. Converting casual tippers into direct customers is the hardest part of the business. Until they do, performers like Solo struggle to deal with refund issues likechargebacks. “That’s a huge issue,” Solo said aboutchargebacks. “People send sex workers money…then the person can call their bank, have it back-charged, and all of the money comes out of the sex worker’s account.” “That’s such a nightmare and it happens all the time,” she added. “People get free service out of that and it’s super gross.” • What Sex Workers Want to Do With Bitcoin • What Sex Workers Want to Do With Bitcoin \|\| What Sex Workers Want to Do With Bitcoin: In this audio interview, CoinDesk’s Leigh Cuen and OnlyFans performerSavannah Solotalk about fintech and the sex industry. From distribution platforms to Twitter andbitcoin, she helps break down what sex workers really need from digital tools. Formore episodesand free early access before our regular 3 p.m. Eastern time releases, subscribe withApple Podcasts,Spotify,Pocketcasts,Google Podcasts,Castbox,Stitcher,RadioPublica,iHeartRadioorRSS. This episode is sponsored byBitstampandCrypto.com. Related:The Future for Unregulated Bitcoin Exchanges Savannah Solo started her OnlyFans account in January 2020 and within a few months became one of the top earners on the platform in her category. She’s never used bitcoin before because she relies on platforms like OnlyFans and Cash App for regular banking services. She said someperformershave been temporarily deplatformed or lost access to their funds, but she’s been lucky so far. She often works a 16-hour day during these first few months of building her business. “The market got super, super saturated during quarantine…they [OnlyFans performers] were having trouble getting any subscribers at all,” Solo said. “In my first month, in January, I only made $80.” There’s a common misconception that sex workers are now making much more money than before the coronavirus crisis. Both Solo and fellow sex worker Honey Li agreed the brief flurry of new customers settled down in the spring and that summer has been a particularly slow season. Related:Is This China’s Century or the US’s? Maybe It’s Both “Nobody is saying they are making more because of the pandemic,” Li said. “There’s a lot more new models….as for the blue collar guys that tip you, a lot of them have lost their jobs.” Li prefers the camming site Chaturbate, instead of OnlyFans. Chaturbate charges performers nearly half of their earnings to use the site, much higher than the 20% charge from OnlyFans. But Chaturbate offers a feature that Li prefers; customers canpay in cryptocurrencyand performers cancash out in bitcoin. The site still acts as a middleman, but at least Li can choose her currency. “My customer base is mostly American, so there are instances where bitcoin is more useful for me, especially when I’m traveling,” said Li, who is based in Europe. Li said some Chaturbate performers, like her, take a fraction of their earnings in bitcoin if they make extra that month. This is regardless of whether the customer paid in bitcoin, since the payment is to the platform anyway. In addition to cashing out from the performance platform in bitcoin, Li also uses personal wallets to accept money directly from fans. Over the past year four clients tipped her in bitcoin. Yet that minority can have a large impact. “Customers that give money directly tend to be regulars, really big fans…5% of my customers make up 90% of my income,” Li said. “There’s not a lot of people that accept bitcoin from clients directly, but I do know some findommes [financial dominatrix] who do. For a birthday gift, for example, I’ll be like cool here’s my wallet.” Solo said she hasn’t been offered bitcoin yet. She’s still trying to manage some of the technical basics of running her own business. “The platforms do extremely little work to help you out,” Solo said. “There is no [tech] support.” There are a variety of tech-savvy sex workers creating their ownbitcoin-friendly platformsand teaching each other how to use various technologies. For example, an escort booking consultant named Jo, who has been helping sex workers garner and screen clients for two years, said a few women paid her in 2019 to help them use bitcoin. The bitcoin advertising campaign lasted for a few months, on a website that only accepts bitcoin. This is generally uncommon. Jo said it was a hassle. “I think a lot of girls in this industry want to protect their identity. However, it [bitcoin] is not the most user-friendly thing,” Jo said about the returns for time spent using bitcoin. “It was pretty dead for a while [bookings]. Business has come back, but it’s slower than usual.” Solo also noticed the imbalance of supply and demand this summer across the sex industry. She said she usually turns to other performers for tech support and doesn’t know of other consulting options for sex workers. Performers like her generally rely on platforms like Twitter, Instagram, OnlyFans and Chaturbate to advertise their brands. Converting casual tippers into direct customers is the hardest part of the business. Until they do, performers like Solo struggle to deal with refund issues likechargebacks. “That’s a huge issue,” Solo said aboutchargebacks. “People send sex workers money…then the person can call their bank, have it back-charged, and all of the money comes out of the sex worker’s account.” “That’s such a nightmare and it happens all the time,” she added. “People get free service out of that and it’s super gross.” • What Sex Workers Want to Do With Bitcoin • What Sex Workers Want to Do With Bitcoin \|\| As Economic Indicators Get Worse, the US Revs Up the Next Multi-Trillion Stimulus: The Breakdown Weekly Recap covers growing U.S.-China tensions, worsening job numbers and the next casual $1 trillion to $3 trillion in stimulus. Formore episodesand free early access before our regular 3 p.m. Eastern time releases, subscribe withApple Podcasts,Spotify,Pocketcasts,Google Podcasts,Castbox,Stitcher,RadioPublica,iHeartRadioorRSS. This episode is sponsored byBitstampandCrypto.com. • A terrible week for U.S.-China tensions, with dueling consulate closures and a strikingly hawkish speech from U.S. Secretary of State Mike Pompeo • Worsening economic indicators, particularly around jobless claims which saw their first weekly rise in four months • The likely size of the next U.S. stimulus bill Related:The Future for Unregulated Bitcoin Exchanges Monday \|What Is GPT-3 and Should We Be Terrified? Tuesday \|What’s Behind the Fed’s New Push to Promote Inflation? Wednesday \|A Simple Explanation of DeFi and Yield Farming Using Actual Human Words Thursday \|Will Big Tech Enable or Destroy Small Business? Feat. Sahil Bloom Related:Is This China’s Century or the US’s? Maybe It’s Both Friday \|Could the European Recovery Plan Actually Break Europe Apart? Formore episodesand free early access before our regular 3 p.m. Eastern time releases, subscribe withApple Podcasts,Spotify,Pocketcasts,Google Podcasts,Castbox,Stitcher,RadioPublica,iHeartRadioorRSS. • As Economic Indicators Get Worse, the US Revs Up the Next Multi-Trillion Stimulus • As Economic Indicators Get Worse, the US Revs Up the Next Multi-Trillion Stimulus \|\| As Economic Indicators Get Worse, the US Revs Up the Next Multi-Trillion Stimulus: The Breakdown Weekly Recap covers growing U.S.-China tensions, worsening job numbers and the next casual $1 trillion to $3 trillion in stimulus. For more episodes and free early access before our regular 3 p.m. Eastern time releases, subscribe with Apple Podcasts , Spotify , Pocketcasts , Google Podcasts , Castbox , Stitcher , RadioPublica , iHeartRadio or RSS . This episode is sponsored by Bitstamp and Crypto.com . This week on the Breakdown Weekly Recap, NLW covers: A terrible week for U.S.-China tensions, with dueling consulate closures and a strikingly hawkish speech from U.S. Secretary of State Mike Pompeo Worsening economic indicators, particularly around jobless claims which saw their first weekly rise in four months The likely size of the next U.S. stimulus bill This week on The Breakdown: Related: The Future for Unregulated Bitcoin Exchanges Monday \| What Is GPT-3 and Should We Be Terrified? Tuesday \| What’s Behind the Fed’s New Push to Promote Inflation? Wednesday \| A Simple Explanation of DeFi and Yield Farming Using Actual Human Words Thursday \| Will Big Tech Enable or Destroy Small Business? Feat. Sahil Bloom Related: Is This China’s Century or the US’s? Maybe It’s Both Friday \| Could the European Recovery Plan Actually Break Europe Apart? For more episodes and free early access before our regular 3 p.m. Eastern time releases, subscribe with Apple Podcasts , Spotify , Pocketcasts , Google Podcasts , Castbox , Stitcher , RadioPublica , iHeartRadio or RSS . Related Stories As Economic Indicators Get Worse, the US Revs Up the Next Multi-Trillion Stimulus As Economic Indicators Get Worse, the US Revs Up the Next Multi-Trillion Stimulus \|\| XBTS is First Exchange to List Skycoin Coin Hours (SCH): SHANGHAI, CHINA / ACCESSWIRE / July 24, 2020 /Skycoin automatically generates a parallel currency called Coin Hours (SCH) at the rate of one Coin Hour generated per hour, per Skycoin. While Skycoin has been tradable on major exchanges for many years, XBTS represents the first time Coin Hours have been made available to trade on an exchange as a separate and distinct crypto asset. Skycoin is a deflationary currency, with a total supply ultimately capped at 100 million coins. Coin Hours, on the other hand, were designed to be an inflationary currency with inbuilt deflationary control mechanisms, encouraging users to spend and trade Coin Hours instead of Skycoin. As the Skycoin project continues to refine Skywire - Skycoin's groundbreaking decentralized and encrypted global mesh network - Coin Hours are set to become the currency with which to purchase bandwidth, storage, and other services on the Skywire network. Introduction to Coin Hours: In short, Coin Hours are: 1. A commodity currency backed by the digital asset of bandwidth on the Skywire meshnet. 2. The basis of the first bandwidth market in history. 3. A form of interest on your investment in Skycoin. 4. A way to keep your transactions free so you don't have to spend $SKY to use it. 5. An anti-spam mechanism which prevents people from attacking the network with many tiny transactions. 6. A way to effectively prevent institutions from issuing paper $SKY derivatives as they do for gold, silver, etc., and are now doing for certain cryptocurrencies. Decentralized cryptocurrency exchange XBTS is set to offer its users the ability to buy, sell, and earn Coin Hours on its DEX beginning July 29, 12:00 UTC. XBTS DEX is a BitShares-based decentralized exchange, which means that Coin Hours will have 45 trading pairs the moment it is listed. Deposit Coin Hours on XBTS: • Register for a free trading account athttps://xbts.io • In the deposit section, you will receive a single address to deposit SKY and SCH. • Send Skycoin (from 0.001) and the desired number of Coin Hours. (Minimum deposit: 1000 SCH.) • Note that there is a deposit/withdrawal fee of 5% SCH. • The two assets (SKY and SCH) are immediately credited to your XBTS exchange balance. • You may start trading SCH or SKY to any of 45 available trading pairs! Withdraw Coin Hours on XBTS: • Select SCH or SKY. • Indicate the address to which you wish to withdraw. • Note that 10% of the SCH are burned as per the current Skycoin transaction burn rate. SKY has no fee for withdrawal. • If you are withdrawing only SCH, then 0.001 SKY + the specified number of SCH is sent minus the commission. • SKY / SCH are sent in Skycoin's native Fiber blockchain to the user's wallet • Minimum withdrawal: 1000 SCH. Media who wish to schedule interviews may reach out to:[email protected] About Skycoin: Skycoin is bringing people what they want: a truly decentralized network without any central authority. Founded in 2011 by early developers of Bitcoin and Ethereum, Skycoin quickly grew into an ecosystem of exciting and ambitious projects, including Skywire, the new decentralized Internet; CX, a revolutionary full-featured blockchain application programming language; and the cryptocurrency itself, Skycoin - simple to use, with virtually-free transactions that execute almost instantly. In November 2019, Skycoin became the only cryptocurrency project to launch their own hardware cryptocurrency wallet, called Skywallet. Skycoin plans to release a superior "web-of-trust" blockchain consensus algorithm called Obelisk, which solves the problems inherent to "proof-of-work" and "proof-of-stake" protocols, both of which are slowing down and compromising the integrity of other major cryptocurrencies. For more background on this groundbreaking project, please visithttps://www.skycoin.comSOURCE:Skycoin View source version on accesswire.com:https://www.accesswire.com/598918/XBTS-is-First-Exchange-to-List-Skycoin-Coin-Hours-SCH \|\| XBTS is First Exchange to List Skycoin Coin Hours (SCH): SHANGHAI, CHINA / ACCESSWIRE / July 24, 2020 / Skycoin automatically generates a parallel currency called Coin Hours (SCH) at the rate of one Coin Hour generated per hour, per Skycoin. While Skycoin has been tradable on major exchanges for many years, XBTS represents the first time Coin Hours have been made available to trade on an exchange as a separate and distinct crypto asset. Skycoin is a deflationary currency, with a total supply ultimately capped at 100 million coins. Coin Hours, on the other hand, were designed to be an inflationary currency with inbuilt deflationary control mechanisms, encouraging users to spend and trade Coin Hours instead of Skycoin. As the Skycoin project continues to refine Skywire - Skycoin's groundbreaking decentralized and encrypted global mesh network - Coin Hours are set to become the currency with which to purchase bandwidth, storage, and other services on the Skywire network. Introduction to Coin Hours: In short, Coin Hours are: A commodity currency backed by the digital asset of bandwidth on the Skywire meshnet. The basis of the first bandwidth market in history. A form of interest on your investment in Skycoin. A way to keep your transactions free so you don't have to spend $SKY to use it. An anti-spam mechanism which prevents people from attacking the network with many tiny transactions. A way to effectively prevent institutions from issuing paper $SKY derivatives as they do for gold, silver, etc., and are now doing for certain cryptocurrencies. Decentralized cryptocurrency exchange XBTS is set to offer its users the ability to buy, sell, and earn Coin Hours on its DEX beginning July 29, 12:00 UTC. XBTS DEX is a BitShares-based decentralized exchange, which means that Coin Hours will have 45 trading pairs the moment it is listed. Deposit Coin Hours on XBTS: Register for a free trading account at https://xbts.io In the deposit section, you will receive a single address to deposit SKY and SCH. Send Skycoin (from 0.001) and the desired number of Coin Hours. (Minimum deposit: 1000 SCH.) Note that there is a deposit/withdrawal fee of 5% SCH. The two assets (SKY and SCH) are immediately credited to your XBTS exchange balance. You may start trading SCH or SKY to any of 45 available trading pairs! Story continues Withdraw Coin Hours on XBTS: Select SCH or SKY. Indicate the address to which you wish to withdraw. Note that 10% of the SCH are burned as per the current Skycoin transaction burn rate. SKY has no fee for withdrawal. If you are withdrawing only SCH, then 0.001 SKY + the specified number of SCH is sent minus the commission. SKY / SCH are sent in Skycoin's native Fiber blockchain to the user's wallet Minimum withdrawal: 1000 SCH. Media who wish to schedule interviews may reach out to: Tiffany [email protected] 0085263533831 About Skycoin: Skycoin is bringing people what they want: a truly decentralized network without any central authority. Founded in 2011 by early developers of Bitcoin and Ethereum, Skycoin quickly grew into an ecosystem of exciting and ambitious projects, including Skywire, the new decentralized Internet; CX, a revolutionary full-featured blockchain application programming language; and the cryptocurrency itself, Skycoin - simple to use, with virtually-free transactions that execute almost instantly. In November 2019, Skycoin became the only cryptocurrency project to launch their own hardware cryptocurrency wallet, called Skywallet. Skycoin plans to release a superior "web-of-trust" blockchain consensus algorithm called Obelisk, which solves the problems inherent to "proof-of-work" and "proof-of-stake" protocols, both of which are slowing down and compromising the integrity of other major cryptocurrencies. For more background on this groundbreaking project, please visit https://www.skycoin.com SOURCE: Skycoin View source version on accesswire.com: https://www.accesswire.com/598918/XBTS-is-First-Exchange-to-List-Skycoin-Coin-Hours-SCH [Social Media Buzz] None available.	10912.82, 11100.47, 11111.21, 11323.47, 11759.59, 11053.61, 11246.35, 11205.89, 11747.02, 11779.77

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